019-ict-tw-spaces-20230323-Unfolding-Truths...shortened
Last modified by Drunk Monkey on 2023-03-25 20:27
Outline
00:01 - What’s happening in the marketplace.
03:49 - How do you know if you’re using every available PDE array?
08:17 - What is revenge trading? -.
12:18 - Liquidity is a visible property in analysis.
16:44 - The importance of understanding bias and narrative.
20:18 - The subtle nuances of price delivery.
24:50 - When you anticipate something, that means you have the foresight to know it’s likely to occur.
28:48 - Does it change the overall understanding of what you’re looking for?
32:43 - The importance of knowing the daily bias every day.
38:00 - You’re your best friend in the marketplace.
42:28 - You don’t realize it because you’re not in these discussions taking notes.
47:01 - How do we open with a premium?
49:47 - Do you feel anxious? Do you doubt it’s going to happen? What are you feeling in the beginning?
54:36 - We’re not flipping burgers, we’re flipping accounts.
57:24 - What’s going to happen when you start pushing the button that’s going to manifest itself in your actions?
01:01:32 - What happens when you start applying gaming theory and money management to something like a trade?
01:05:29 - Why you need to have a different mindset when you’re working with us.
01:09:04 - How do you know if it’s going to go to buy side or inefficiency?
01:13:23 - When you have this moment of clarity when you finally get to that point where it makes perfect sense and you know exactly what you’re looking
01:18:01 - What’s going to happen around certain times of the day? -.
01:22:28 - You can’t learn it all just because you sit down with me.
01:26:53 - How long does it take to make big money in trading?
01:31:34 - How you deal with adversity will be uniquely personal to you.
01:36:32 - It’s like spring break and everybody brought kegs.
01:40:40 - Today is the day you don't touch the combine, you don't do nothing.
01:45:48 - Don’t hide from your mistakes.
01:49:48 - What do you do with a demo account? -.
01:54:30 - You should hear some of the stories he talks about -.
01:59:03 - Building a legacy for his children -.
02:03:06 - All the factors need to come together to make a plan.
02:07:30 - Prepare your kids to be resilient from falling victim.
02:12:02 - Every decision you make is not really clear headed -.
02:17:44 - The expression on your face when you show them your result and they're not impressed.
02:22:20 - Why you need to invite the spouse into the conversation.
02:28:01 - If you have children that are under 17, you can pay them each year and they don’t have to have any income taxes taken.
02:30:44 - If you have the skill set, you learn how to make money.
02:35:13 - What happens when you get an argument with your spouse.
02:39:12 - When you start making money, it changes you and you want more.
02:43:30 - Don’t worry about anybody else. Always be prepared as best as you can.
02:48:16 - There’s a right way to start doing it and there’s a wrong way.
Transcription
| 1 | 00:00:01,050 --> 00:00:08,430 | ICT: Good evening, folks hope everybody's doing well. It's really talking a little bit about some unfolding truths. So obviously, we had two live sessions |
| 2 | 00:00:08,430 --> 00:00:18,090 | this week in a week that had FOMC, which is behind us now, last day of trading tomorrow for the week, and ICT will be away from that, at least from the social |
| 3 | 00:00:18,090 --> 00:00:27,960 | media perspective, I'll be working with my son in private tutoring. So I kind of like want to talk a little bit about something I saw, I think it was a thread, |
| 4 | 00:00:28,020 --> 00:00:38,520 | other people were replying to, and someone had added my handle on Twitter to it something to the effect that a viewer that still follows me on Twitter mentioned |
| 5 | 00:00:38,520 --> 00:00:46,770 | that the the best thing and well they could have done was, you know, stop adding all the ICT stuff to their analysis and such. And it became a lot easier for |
| 6 | 00:00:46,770 --> 00:00:56,280 | them. And my take away from that is they stopped putting everything I talked about in their analysis. And I've said this many times, you in the lectures have |
| 7 | 00:00:56,280 --> 00:01:05,640 | talked about how I have a lot of tools, I have a lot of concepts and processes, but not all of them are applicable. And over time, you'll see the ones that meet |
| 8 | 00:01:05,670 --> 00:01:15,570 | the criteria that you want to adopt for your model for your trading. And not all of the tools that I implement, and teach and present to all of you are going to |
| 9 | 00:01:15,570 --> 00:01:23,100 | be useful to all of you, they won't resonate with you. And I've made that very candid point multiple times. So when I see that, and you know, people come |
| 10 | 00:01:23,100 --> 00:01:33,930 | behind it, they'll say yes, this is your spitting facts. This is the truth is a truth bomb. Some of the replies were like, Yeah, I can't get it to work for me |
| 11 | 00:01:33,960 --> 00:01:42,360 | how long you've been doing it? I've only been doing it for two months. Okay, well, there's your answer. The things I want to talk about tonight are simple |
| 12 | 00:01:42,390 --> 00:01:52,680 | truths that I'm showcasing. I'm doing it daily with you either in Twitter or now the live streams. And it's basically a pulling back on the information that are |
| 13 | 00:01:52,680 --> 00:01:59,520 | talked about in my lectures. So now you're getting to see it live. So there's no argument. Now, there's no question whether or not it's actually happening in the |
| 14 | 00:01:59,520 --> 00:02:06,450 | marketplace, because we were able to sit here as a community live over the charts, and it happens to script on the time that is supposed to happen. So when |
| 15 | 00:02:06,450 --> 00:02:14,850 | we look at the marketplace, and we're looking for opportunities, I want you to take a second to kind of put everything down in your mind that you try to reach |
| 16 | 00:02:14,850 --> 00:02:25,410 | for using my concepts or other analysis concepts and the simplicity that's available to you. But you yourself are complicating because I'm teaching various |
| 17 | 00:02:25,410 --> 00:02:34,620 | tools. But I'm not stating that these tools are applicable at all times all timeframes. Every asset class, there's certain things that are useful that are |
| 18 | 00:02:34,620 --> 00:02:43,710 | not useful and other times. And in that thread that I saw that the person that was creating it mentioned that they stopped trying to put everything on every PD |
| 19 | 00:02:43,710 --> 00:02:54,000 | array. Well, not every PD array is in every fractal of price action. Not every single one of my PD arrays are in any one given fractal and price action. So in |
| 20 | 00:02:54,000 --> 00:03:00,720 | other words, if we were to randomly scroll through any particular market, someone could call out a market and then someone else could call it a timeframe. |
| 21 | 00:03:00,930 --> 00:03:09,120 | And then I load the chart up and scroll through randomly, wherever it stops. The first 45 minutes of data, you want to lower timeframe say okay, that's the |
| 22 | 00:03:09,210 --> 00:03:17,490 | segment price action we're looking at. So everything would be randomized, not every single one of my PD arrays would exist in that fractal. But the ones that |
| 23 | 00:03:17,490 --> 00:03:25,500 | do exist and reside in that price action inside that market structure, they're pertinent that means it's something that you need to be considering whether or |
| 24 | 00:03:25,500 --> 00:03:34,110 | not you use it to trade with or enter matters not because you understand Hopefully, by now that when I'm doing pyramiding, when I'm doing multiple |
| 25 | 00:03:34,110 --> 00:03:42,930 | entries into the same general trade, but I'm just building the position larger, for instance, you usually see me go in with six contracts, then three, and then |
| 26 | 00:03:42,930 --> 00:03:55,560 | a final 410 lot. If I'm really aggressive, I'll do 64321 Is it all the time? No, but I'm utilizing every available pdra. So that way you can look at the examples |
| 27 | 00:03:55,560 --> 00:04:05,220 | I'm using, that would be a pyramid entry, that could be an individual standalone entry. And the other ones prior to that one may not fit you. So when I do these |
| 28 | 00:04:05,220 --> 00:04:13,710 | examples is meant for your edification. So that way you can see which one resonates with you, I don't need to do a pyramid, I could just do one full pool, |
| 29 | 00:04:14,010 --> 00:04:23,910 | and all in at one time and go all out at the terminus. But when I'm showing you these examples, I'm teaching you, by example real time by going in executing on |
| 30 | 00:04:23,910 --> 00:04:32,940 | live data, every possible permitting entry, that way you can see what they look like. Unfortunately, there's some of the viewers and students that are casual |
| 31 | 00:04:32,940 --> 00:04:41,460 | viewers really not trying to learn. They're looking at the pyramid examples and focusing on what would have been profitable in terms of the money and that's |
| 32 | 00:04:41,460 --> 00:04:52,680 | unfortunate, but I want to try to show how you can take a equity base and run it up using the tools, the money management, the trade management, all those things |
| 33 | 00:04:52,680 --> 00:05:01,860 | come together and how you can really parlay any equity size up to enormous heights. Now you aren't going to be We'll do that right away, someone in their |
| 34 | 00:05:01,860 --> 00:05:09,180 | first year isn't going to be able to do that. It's going to take some time looking at things. But what I want you to focus on is when I do those examples, |
| 35 | 00:05:09,390 --> 00:05:17,250 | and they're always made public, the look at each one of them in terms of where I entered, your main entry. Did I do what was it based on studying whatever want |
| 36 | 00:05:17,250 --> 00:05:25,230 | to the PV arrays I'm using in that example, does it jump off the chart that says, Oh, this is this is the one I always look for. Because sometimes I'll see |
| 37 | 00:05:25,230 --> 00:05:33,450 | students, they'll say, I got that trade, but I only use your second or third entry. I know what they mean. And they're doing it correctly. They're not trying |
| 38 | 00:05:33,450 --> 00:05:43,860 | to count things that was made on that paper trade. I'm not trying to inspire you with paper trading equity, I'm trying to inspire you to determine which one of |
| 39 | 00:05:43,860 --> 00:05:50,730 | the PDE arrays are most important to you. Because you're going to start with one of them, it doesn't mean it's going to be the last one for you, or the one |
| 40 | 00:05:50,730 --> 00:05:58,860 | you're going to settle in on. But it's we want to do the most work with until you find some continuity, and reading price. And then you'll grow into maybe |
| 41 | 00:05:58,860 --> 00:06:07,200 | another pdra maybe not be breakers, initially may not be the fair value gap initially, unfortunately, I feel like I'm funneling you all into this fair value |
| 42 | 00:06:07,200 --> 00:06:16,980 | gap idea. And if I was being 1%, honest with you, I am in a lot of ways trying to because it's easy to see it's visual. And when we look at price, hopefully by |
| 43 | 00:06:16,980 --> 00:06:26,670 | now, even the newer viewers and memberships to this community now can see that price is not random, if you think price is random. And that to me shows me that |
| 44 | 00:06:26,730 --> 00:06:32,700 | you haven't been really paying attention. You're not listening, you're not looking at the examples, the executions, by students executions, they're doing |
| 45 | 00:06:32,700 --> 00:06:40,890 | things that you see me teach from beginning to end. And I'm inspired. And I'm thankful that they put the work in, and they're showing their own individual |
| 46 | 00:06:40,890 --> 00:06:47,700 | community that people that follow their YouTube channel, or their social media accounts. And that feels good as a mentor, because it's transferable knowledge. |
| 47 | 00:06:47,730 --> 00:06:55,710 | But just as well as price is not random. The manipulation that occurs in these markets is in fact very real. And sometimes we can predict when that's going to |
| 48 | 00:06:55,710 --> 00:07:06,120 | occur, not all the time, but most times. And when we have weeks, like FOMC we had this week, and when we have CPI, and we have Non Farm Payroll, we have to |
| 49 | 00:07:06,120 --> 00:07:17,370 | adjust and adapt to the likelihood of unfavorable conditions for a short period of time, that is an unfolding market truth, it happens all the time, there's no |
| 50 | 00:07:17,460 --> 00:07:26,100 | ambiguity to that is absolutely something that repeats, but when there's no likely manipulation that comes by way of a high impact news driver, like FOMC, |
| 51 | 00:07:26,100 --> 00:07:35,190 | rate announcements or Non Farm Payroll or CPI, then we're more likely to see a medium or high impact news driver provide low liquidity runs, which is the |
| 52 | 00:07:35,190 --> 00:07:45,480 | hallmark to what I teach as a mentor. Now, you see me engaging in high resistance conditions. That means I'm looking at markets that I generally would |
| 53 | 00:07:45,540 --> 00:07:55,590 | shy away from not because I can't win, but because too much babysitting. And I may have to mitigate something that I did that didn't pan out, well, I had that |
| 54 | 00:07:55,590 --> 00:08:02,970 | today, no harm, no foul first trade out the gate, boom, no problem done, explained where the buy side was told you where the order block would be and |
| 55 | 00:08:03,780 --> 00:08:13,530 | took off. So that patted me out, then I tried to build in a position forcing an idea that I would otherwise try to do in another condition, not after FOMC The |
| 56 | 00:08:13,530 --> 00:08:21,240 | following morning. And it turned on me even I tried to pyramid it and build it up. It's no big deal. I said, Okay, I'm gonna reverse that's not chasing folks. |
| 57 | 00:08:21,300 --> 00:08:28,200 | Because if it's showing a willingness to not want to go lower, and we saw today, the new week opening gap was offering support. I wanted to see it traded below |
| 58 | 00:08:28,200 --> 00:08:36,540 | it and offer resistance and then displace lower, and I was trading with that idea in mind. It ripped higher. Okay, no problem. I'm wrong stopped me out. So |
| 59 | 00:08:36,540 --> 00:08:44,790 | now it's hanging around a mitigation block, not a breaker mitigation block. So I use that to get in at rallied up after me telling you that it was going to go to |
| 60 | 00:08:44,790 --> 00:08:49,380 | that 4026 and a quarter. I think it's 4026 and a quarter 4026 and a half. |
| 61 | 00:08:49,680 --> 00:08:58,470 | I don't recall but I know it's 426 at 4028. And I told you it was a five minute gap. It was basically hinging on and it blew up right up there. Bang, that net, |
| 62 | 00:08:58,500 --> 00:09:07,560 | that navigation that turning on a dime that comes with experience. You don't understand that when you're new. It feels like oh, well, it's revenge. I saw a |
| 63 | 00:09:07,560 --> 00:09:16,110 | couple guys who said well, you just revenge string that was not revenge trading. Number one, I did significantly less contracts after getting stopped out. And |
| 64 | 00:09:16,110 --> 00:09:27,480 | between the first when the loss in that final portion going up into that 4026 level, five minute fairway gap, no drama. So that frees me up to do what trade |
| 65 | 00:09:27,480 --> 00:09:36,750 | really where I want to be at in the afternoon, going FOMC the day after in the morning, all I'm doing is observing. I want to see what they're setting up for |
| 66 | 00:09:36,750 --> 00:09:45,360 | the afternoon. I wanted to see it trade back down in that opening range gap. But this kept pushing and pushing and pushing all the way up into that five minute |
| 67 | 00:09:45,480 --> 00:09:55,290 | city that it's framed around that for 4040 39 and a quarter. And you can find that on your five minute chart of the yes for the June contract. And so I should |
| 68 | 00:09:55,290 --> 00:10:04,470 | have mentioned that in your annotations on your chart and the fair value gap around 4026 4020 level all five minute basis. So eventually the market started |
| 69 | 00:10:04,470 --> 00:10:12,870 | to peter out and sorry, trade softer. And I gave you a inbalance with a dealing range. It was that blue shaded fair value gap. So I want to see it drop down in |
| 70 | 00:10:12,870 --> 00:10:21,150 | there after the lunch begins. It's noon time. Okay. I'm going to talk a little bit about that in this discussion. And why it's important to think like these |
| 71 | 00:10:21,180 --> 00:10:29,280 | protocols put you in front of charts looking for these signatures that repeat, come into the marketplace. So you're not reacting to price you're anticipating. |
| 72 | 00:10:29,310 --> 00:10:38,790 | Now, one could say, hey, well, you didn't you react to price when you reversed into a neophyte that would look like chasing price or revenge trading, revenge |
| 73 | 00:10:38,790 --> 00:10:47,430 | trading would have been doing the same amount or not that but more contracts going along and reversing, that's revenge trading. I know it will. I did it a |
| 74 | 00:10:47,430 --> 00:10:56,460 | lot when I was young, but expecting it to trade back down into the opening range gap. And when the shaded area was like orange or tan colored rectangle I was |
| 75 | 00:10:56,460 --> 00:11:05,430 | drilling out this morning, using the regular trading hours yesterday, settlement price closing price to where we opened up, today's trading on regular trading |
| 76 | 00:11:05,430 --> 00:11:14,550 | hours, it's that gap in between. So that's opening range gap. That's not new day opening gap. That's the difference between 5pm and 6pm. But those imbalances |
| 77 | 00:11:14,550 --> 00:11:23,490 | that are created with the opening range gap, it sets the tone for how we can trade intraday, so we can go into the marketplace, anticipating a certain |
| 78 | 00:11:23,490 --> 00:11:30,990 | measure of symmetry in price. And when there's a lack of symmetry, meaning the indices are doing opposite things are not in agreement, one's going up a little |
| 79 | 00:11:30,990 --> 00:11:38,040 | bit, one's going down lenses, do whatever it wants to do. That's not a symmetrical market. And we want to operate in a market that is just like this. |
| 80 | 00:11:38,040 --> 00:11:44,790 | This is for your notes, folks. If you're not writing this stuff down, I promise you, you will not remember this, you're not going to remember it was the time |
| 81 | 00:11:44,790 --> 00:11:51,210 | sitting here listening to me just bloviate about something that I know how to do my students that had been taking notes, they knew this, but those of you that |
| 82 | 00:11:51,210 --> 00:12:00,600 | don't, you need to take this and transpose it into your journal. But you have to anticipate this likelihood of a disparity between where we close the previous |
| 83 | 00:12:00,600 --> 00:12:06,480 | day, and where we're going to open up at 930. Now, obviously, you can forecast that because the markets are trading electronically, you can see, okay, we're |
| 84 | 00:12:06,480 --> 00:12:15,660 | going to be opening up with a gap higher or lower. But you're not going to immediately sell short expecting that gap to fill immediately, you have to |
| 85 | 00:12:15,660 --> 00:12:24,630 | anticipate some measure of continuation. What does that mean? Well, when we're looking at price, we know that it's not random. We know that manipulation is |
| 86 | 00:12:24,630 --> 00:12:34,470 | real, we know we can pretty much time majority of the manipulation. But we also understand that liquidity is a Visible property in analysis, we don't need some |
| 87 | 00:12:34,470 --> 00:12:45,600 | kind of application, okay, like depth of market. As a lot of names, I'll use things out there. And I understand that they may be useful to other folks. But |
| 88 | 00:12:45,600 --> 00:12:54,780 | I'm trying to teach you how to trade naked where there's no indicators, no reliance on some subscription service thing, though, indicator based idea, you |
| 89 | 00:12:54,780 --> 00:13:05,250 | don't need those things. And because liquidity is visible, meaning above old highs, it's it goes without saying if you look at a book map, or the ladders on |
| 90 | 00:13:05,250 --> 00:13:13,230 | depth of market level two data, you're going to see numbers raised above what you can see on your chart, that would be an old high how many times you need to |
| 91 | 00:13:13,230 --> 00:13:21,030 | see that and know that what's obvious above that high is the market has pulled away from the high recently, there's liquidity above that what kind of liquidity |
| 92 | 00:13:21,060 --> 00:13:29,850 | would that be, it would be by side liquidity by stops, someone's utilizing that area to potentially enter on a breakout going higher because they're bullish, or |
| 93 | 00:13:29,850 --> 00:13:38,190 | someone's utilizing that area to protect a short position in shorts are protected with a protective buy stop. And we're not trying to differentiate or |
| 94 | 00:13:38,220 --> 00:13:48,810 | get the ratio of what amount of buying on a breakout or buying a short covering exit. We don't care about that. We just know that that's a market truth above |
| 95 | 00:13:48,810 --> 00:13:58,110 | old highs or a singular high we are anticipate that there's going to be a drawl to that eventually, because there's liquidity there and it's visible, we can see |
| 96 | 00:13:58,110 --> 00:14:06,300 | it that high is going to have liquidity above it. It goes without saying just as well as we can see that visually in price with old highs and old lows because |
| 97 | 00:14:06,300 --> 00:14:15,600 | old lows we would have sellside below that. But it'd be a singular swing low and old, low or relatively equal are multiple lows. We know that the low that is |
| 98 | 00:14:15,600 --> 00:14:24,870 | going to be a pool of liquidity in the form of sell stock, which we dub sell side liquidity. We don't need any indicator. We don't need a heat map thing, |
| 99 | 00:14:24,900 --> 00:14:32,550 | whatever. Wherever these individuals that like to have all these tools and things it makes you feel like you're your high tech. I understand I wanted to be |
| 100 | 00:14:32,550 --> 00:14:40,020 | like that when I was younger. I want to have every gizmo that was out there because I felt like if someone were able to see my charts, they would be |
| 101 | 00:14:40,020 --> 00:14:50,880 | impressed. Look at what he's got. Look what he's got on his chart. Whoa, wow, look at all that. Look at those gain fans. I had all that stuff on him. He was |
| 102 | 00:14:50,880 --> 00:14:58,500 | nuts, but just as well as you can see the liquidity above and below swing highs and lows. And that's not rocket science. But it's amazing how people don't |
| 103 | 00:14:58,500 --> 00:15:09,300 | utilize that in their trade. They adopt some relief of, in my opinion, not really fond of sailing in some kind of religious approach to an indicator that |
| 104 | 00:15:09,300 --> 00:15:18,540 | it's more emphasis on an indicator or an overlay of some kind than simply reading the chart itself and understanding where orders would be. So if we were |
| 105 | 00:15:18,540 --> 00:15:27,660 | to ask the question like this, is it more likely that a Gartley pattern, which is a harmonic pattern, it's pretty simple stuff? But at some bullish Gartley |
| 106 | 00:15:27,660 --> 00:15:35,460 | pattern? Is it more likely that the market is going to go up? Because the market traded into a Gartley pattern? It would be bullish and going to its pattern |
| 107 | 00:15:35,490 --> 00:15:45,060 | target? Or is it more likely the fact that we traded down and there is a higher timeframe order flow that's bullish, and it's clear that we had some |
| 108 | 00:15:45,060 --> 00:15:52,320 | manipulation on the downside and sell side has been taken, then we're going to be looking for Counterparty to do what look for buy side, it's the second the |
| 109 | 00:15:52,320 --> 00:16:01,620 | market is not aware of harmonics. It doesn't matter. There's no There's no identification for that reference point in the algorithm it is seeking were |
| 110 | 00:16:01,680 --> 00:16:11,580 | obvious levels of liquidity with rest. And if it's not doing that it's doing what it's seeking inefficiencies. I mean, it's fair value gaps, cities, this is |
| 111 | 00:16:11,610 --> 00:16:21,240 | something that effect volume imbalances, so the market can see that it can see old highs and old lows, it cannot see the number of orders above old highs, it |
| 112 | 00:16:21,240 --> 00:16:29,430 | cannot see the number of orders below Oh lows, it doesn't need to know that because human psychology we're all being manipulated in the beginning when you |
| 113 | 00:16:29,430 --> 00:16:36,420 | first start trading, we all drink from the same tainted well put your stop above this old high, put your stop below this old low buy on a breakout sell on a |
| 114 | 00:16:36,420 --> 00:16:45,420 | breakout break and retest. We're just not gonna go most recent swing high, most recent, that's neophyte one on one how to lose money. And that's why the |
| 115 | 00:16:45,420 --> 00:16:53,310 | statistics are what they are. Because you're all dealing with I did to everybody that comes in this industry. If you buy a book or borrow a book, or someone |
| 116 | 00:16:53,310 --> 00:17:00,180 | teaches you from a book, you're getting misinformation, and it's not. It's not fun to realize that later on. And sometimes you like I did, I wrestled with it, |
| 117 | 00:17:00,210 --> 00:17:07,830 | I didn't want to let go of it. I was like, I'm just doing it wrong, I got to do it more, I got to trade harder, I gotta push my age and make it sharper. I |
| 118 | 00:17:07,830 --> 00:17:13,020 | haven't been trading enough, I just have to keep pushing, my stops are too tight, I got to make them wider, don't use one that's even better. |
| 119 | 00:17:14,760 --> 00:17:23,640 | And all of it resulted in blown accounts. So I know what it feels like to fall victim to all this stuff, and what place in my understanding about price action |
| 120 | 00:17:23,850 --> 00:17:33,480 | that prevented me from doing those things. Again, it's the understanding and the market truth of how markets seek liquidity above old highs below old lows. And |
| 121 | 00:17:33,480 --> 00:17:42,630 | if it's not doing that, it's going up into a premium to reprice to an inefficiency where price created us to be where it's only a down move, and it's |
| 122 | 00:17:42,630 --> 00:17:51,510 | going to reprice back up to that level again, now, because those are the two most important pillars of understanding bias and narrative, it's very important |
| 123 | 00:17:51,510 --> 00:17:59,400 | to spend the majority of your time studying old price moves with that in mind, going through your charts annotating, who got hurt here who was being targeted |
| 124 | 00:17:59,400 --> 00:18:07,110 | here, meaning you go through your charts and say, Okay, at this price run here intraday on the morning session, whether it's Forex, or whether it's futures, |
| 125 | 00:18:07,170 --> 00:18:16,440 | you're going to map out the chart with as much detail as you want to put in. But the better amount is try to be as detailed as you possibly can way beyond will |
| 126 | 00:18:16,440 --> 00:18:24,600 | be necessary for you to take a trade because you're teaching yourself how to read what took place a you're placing with the benefit of hindsight looking at |
| 127 | 00:18:24,600 --> 00:18:33,210 | it, you're placing a narrative on what clearly took place. And by doing that, for weeks and months, while learning how to read the draw on liquidity, read the |
| 128 | 00:18:33,210 --> 00:18:41,280 | tape, you're doing exercises in hindsight and you're watching me call it live and you're watching me outline it in live streams live. You're getting a |
| 129 | 00:18:41,280 --> 00:18:48,900 | complete understanding, you're doing drills and exercises by you going into the charts yourself. And then you're watching Real time you're hearing me you're |
| 130 | 00:18:48,900 --> 00:18:55,770 | watching me point out things real time, and you're seeing things whether you realize it right now or not. But you're seeing things repeat and your |
| 131 | 00:18:55,770 --> 00:19:03,930 | understanding is growing. It may not be exponential right now, it may be very marginal, but it's increasing. And over time, your subconscious is going to be |
| 132 | 00:19:03,960 --> 00:19:13,350 | gleaning more and more each time that I'm doing it live. And you're going to remember, oh, it's like those 50. Other times I saw that in my back testing. And |
| 133 | 00:19:13,350 --> 00:19:22,530 | where I'm annotating and logging. I see that it's there. That's That's my thing. That's the thing I'm looking for. That's the model that your eyes going to jump |
| 134 | 00:19:22,530 --> 00:19:29,700 | to every single time the market creates it, your eye will go right to and you won't be looking for it just your eye goes right to it. Boom, there it is, which |
| 135 | 00:19:29,700 --> 00:19:37,020 | is why I like to teach with the fair value gap. It's very easy to see it in the chart. It just stands out. It sticks out like a sore thumb mark, it's reaching |
| 136 | 00:19:37,020 --> 00:19:48,060 | to liquidity or reaching to inefficiency with the purpose in mind to reprice and be balanced that inefficiency. That is what we use for directional bias. But the |
| 137 | 00:19:48,060 --> 00:19:57,060 | narrative that's required that would deliver that up move or down move hinges on time. So there's there's three factors here. Now we're repricing for liquidity |
| 138 | 00:19:57,120 --> 00:20:07,440 | repricing for inefficiency in with the Purpose of rebalancing. And all of that is delivered by bases of time. We're not surprised. Okay. We're not surprised |
| 139 | 00:20:07,440 --> 00:20:15,840 | when moves happen. We're not like, Holy crow. Look at that. Where did that come? Who saw that coming, folks? Let me get on social media. Hey, did you just see |
| 140 | 00:20:15,840 --> 00:20:25,890 | what happened on the British pound? What just happened? Oh, it was it is so I can see. I don't know I'm looking at Yes, I am looking at Pam. So why I am not |
| 141 | 00:20:25,890 --> 00:20:33,570 | in my students are not surprised is because we understand the time aspects, intraday, we know that there are certain signatures that tend to repeat, and you |
| 142 | 00:20:33,570 --> 00:20:42,510 | hear me talking about them all the time, whether it's in tweets, or in live streams, in its macros, macros are these little time windows, when these subtle |
| 143 | 00:20:42,510 --> 00:20:51,600 | nuances come into price delivery, and the market will start running. Now, you have never paid that much attention to it, because you were never told to look |
| 144 | 00:20:51,600 --> 00:20:59,820 | for it, which is the reason why it goes underneath everybody's radar. But now with me telling you, this is what's going on your eyes keyed up, your reticular |
| 145 | 00:20:59,820 --> 00:21:09,060 | activating system is now dialed in on these specific times of the day, what times a day, but I taught you that's 950 to 1010, that's 110 50 to 1110. That's |
| 146 | 00:21:09,060 --> 00:21:18,660 | another one that 315 to 345 in the last hour of trading. That's one of their certain processes, little lists of orders, which is a macro, it starts to |
| 147 | 00:21:18,660 --> 00:21:27,960 | activate at these times. And looking at how the market is being delivered that particular session that particular day, that particular week, we can anticipate |
| 148 | 00:21:28,020 --> 00:21:37,680 | a great deal of expected delivery in price where it's not guaranteed that nothing's ever never really guaranteed. Which is reason why I promote and teach |
| 149 | 00:21:37,680 --> 00:21:45,930 | that you have to use a stop loss all the time. But I leave it to the viewer and my students to evaluate whether or not there's any efficacy to what it is I'm |
| 150 | 00:21:45,930 --> 00:21:53,460 | teaching. And with enough time most people come around say, Well, yeah, this is no doubt now it's obvious. It's here it is. And now you're seeing it with me |
| 151 | 00:21:53,460 --> 00:22:00,840 | calling every one minute candle explaining why it should do this. And once you do that, if there is no algorithm, if there is no control mechanism that's |
| 152 | 00:22:00,870 --> 00:22:09,060 | delivering price, then there would be no way for me to consistently be able to do what I'm doing. It would be completely randomized. My results would be what |
| 153 | 00:22:09,090 --> 00:22:19,020 | falling short 5050 Right. The things I tweet about, I'm taking your attention into a specific PD array, that PD array may be eventually any version level, the |
| 154 | 00:22:19,020 --> 00:22:27,990 | inversion of what would be normally expected a bullish breaker. Okay, well, what happens if it trades below that bullish breaker may act as resistance now, which |
| 155 | 00:22:27,990 --> 00:22:37,650 | would fly in the face of what the introductory lessons on my YouTube channel, state, but what's happening here is a change in the state of delivery. Oh, see |
| 156 | 00:22:37,680 --> 00:22:46,920 | those down close candles as you know about as my order block, it's not the down closed candle itself. It's the flipping from its opening price. Once it crosses |
| 157 | 00:22:46,920 --> 00:22:54,090 | that that's the change in the state of delivery, what's occurring there, the algorithm changes from sell side to buy side in any retracement back down into |
| 158 | 00:22:54,090 --> 00:23:02,760 | the opening price is just simply like a return to resistance broken now turned support. But it's not seen that way. Because it's not classic Support |
| 159 | 00:23:02,760 --> 00:23:11,160 | Resistance. It's not supply and demand. Because we're not dealing with zooms I'm dealing with a very specific price level within a context that's not ambiguous |
| 160 | 00:23:11,250 --> 00:23:19,050 | is very specific. And there are elements that are drawn together that make a model. And we'll talk about that as we go. But just like a down close candle |
| 161 | 00:23:19,050 --> 00:23:25,440 | limits got a fair value gap and the markets bullish and it trades down into it and touches the opening price of the down closed candle. That's a bullish order |
| 162 | 00:23:25,440 --> 00:23:32,820 | block, that's a change in the state of delivery. Well, if you have a bullish breaker in the market trades down below it and it fails to get above it or |
| 163 | 00:23:32,820 --> 00:23:39,900 | support it, and it trades back up into it what's happening right here, none of you are going to look at that. Because I didn't teach that on my YouTube |
| 164 | 00:23:39,900 --> 00:23:45,780 | channel, you're not going to see that as an entry, you're gonna be waiting for it to do what go up above it, come back down and touch it like a springboard |
| 165 | 00:23:45,780 --> 00:23:53,700 | trampoline, send the higher it can do that. But if you don't pick up on the subtle changes in order flow, where now it's not likely to do that, what is it |
| 166 | 00:23:53,700 --> 00:24:02,130 | doing? It's returning back to that order block, which is a breaker. And it's a change in a state of delivery. Now, once it gets back to those inversion levels, |
| 167 | 00:24:02,130 --> 00:24:09,240 | because it could be a breaker, it could be a mitigation block, you've seen me use the fair value gap. And when I call out a fair value gap on Twitter, the |
| 168 | 00:24:09,240 --> 00:24:16,410 | trolls would say oh my god, I failed. They not even knowing what I'm doing. I'm drawing your attention to it because it's going to become what inversion, we |
| 169 | 00:24:16,410 --> 00:24:23,940 | want to see it trade through it and then act as resistance or trade through it and act as support when just simply understanding whatever I talked about as an |
| 170 | 00:24:23,940 --> 00:24:31,500 | introductory lesson on my YouTube channel, or my core content lessons and paid mentorship, because that's all that was was a language peoples out there making |
| 171 | 00:24:31,500 --> 00:24:39,720 | courses and teaching you order blocks and so on. You don't know what an order block is, you have no idea what it is you're going to learn by me pointing to |
| 172 | 00:24:39,720 --> 00:24:49,380 | these specific things, real time, whether it be in tweets, or in the live streams. There's a process that you submit to that allows you to be comfortable, |
| 173 | 00:24:49,440 --> 00:24:57,120 | not anxious. We're not worrying about something. We're not worried about missing a move. We're not worried about any of that stuff. We're waiting for it to |
| 174 | 00:24:57,150 --> 00:25:04,650 | present itself. We're not reacting because we're already into this repeating. So when you anticipate something, that means you have the foresight to know it's |
| 175 | 00:25:04,650 --> 00:25:12,420 | likely to occur. Let's go back to the live stream on Tuesday for a moment. That morning, I told you, I said, Listen, I want to, I'm going to go in here today, |
| 176 | 00:25:12,420 --> 00:25:18,420 | I'm going to talk about an entry, I'm going to push the button because there's people out there say, ICT would never get on a live stream, he's never going to |
| 177 | 00:25:18,420 --> 00:25:27,750 | push a button, he's never going to do that, because he'll fail. Because he can't cherry pick. He's got 17 laptops. And my attention span is just this. Like, I |
| 178 | 00:25:27,750 --> 00:25:35,730 | just no way I could be looking at all these different monitors, and keep in different setups. And so in trading views, one account does it. So I sat there |
| 179 | 00:25:35,730 --> 00:25:43,410 | and told you, I said, we're gonna do one entry, one setup. And I want you to see what it's like to to submit to one idea, but I'll tell you, there's other ones |
| 180 | 00:25:43,410 --> 00:25:49,980 | in here, but I won't take them. If you didn't really pick up on this, I want you to watch the livestream on Tuesday, I did. It's not that long, like an hour |
| 181 | 00:25:49,980 --> 00:25:57,180 | long, you put it on twice the speed. And I'll get you right through it inside of 30 minutes. I promise. It'll be short and sweet. But I want you to listen to how |
| 182 | 00:25:57,180 --> 00:26:04,920 | I build you up with your expectations going in that we're going to absolutely see the 2020 model, it's absolutely happening, which is exactly what I taught |
| 183 | 00:26:04,920 --> 00:26:13,980 | you when I was teaching it last year, it happens every day. It happens every day. Now can you go out and say, My harmonic crab is going to happen every day, |
| 184 | 00:26:14,010 --> 00:26:21,210 | my harmonic unicorn, it might not be there, you're not going to have your harmonic bats and your Belfry every single trading day. But But and this is |
| 185 | 00:26:21,210 --> 00:26:30,570 | something that you really need to grasp. And this is why when I listened to this young man that was on can remember the company's name, and it's gonna sound like |
| 186 | 00:26:30,570 --> 00:26:38,040 | I just don't want to represent him. But the guy that's the farmer, and he's a prop fun trader, whatever he he's being interviewed about a guy from the |
| 187 | 00:26:38,040 --> 00:26:46,680 | company. And he said that they've done a lot of payouts with students from my phone, and what they've learned from me. And he says, it's really interesting to |
| 188 | 00:26:46,680 --> 00:26:50,700 | see how the students that come from our fold the lines then |
| 189 | 00:26:52,020 --> 00:27:01,260 | that they have a strange sense of constant the other people that get payouts don't seem to have. And his words were it just seems like we know and they know |
| 190 | 00:27:01,260 --> 00:27:10,800 | they got lucky. But you don't hear that from people that's trained with us. When you do it this way, we are absolutely confident. We know that we know there's no |
| 191 | 00:27:10,800 --> 00:27:18,540 | ambiguity about whether or not we're going to see what we're waiting for. We know how to stock we knew how to hunt. And we knew how to take it down. And I |
| 192 | 00:27:18,540 --> 00:27:24,360 | was showing you that this Tuesday. I said listen, there's gonna be other opportunities in here. I want to point out, okay, I'm only interested in going |
| 193 | 00:27:24,360 --> 00:27:29,880 | short, I said, here's where it's going to run up here. It's going to go into the 28th level, it'll be five minutes. I'm not interested in that. So there's one |
| 194 | 00:27:29,880 --> 00:27:35,640 | trade. So right now we're above this old high revised that is you just could be a turtle suit to trade down here. That's not what I'm going to take. And they |
| 195 | 00:27:35,640 --> 00:27:41,820 | interested in that we're waiting for what what did I say we're waiting for, we're waiting for displacement, that downside than a fair value got the form, |
| 196 | 00:27:42,150 --> 00:27:47,820 | I'm going to sell short the fair value, get that forms and write it down into the sell side liquidity. And I'm gonna try to do it with five handles. And then |
| 197 | 00:27:47,820 --> 00:27:55,020 | I said, You know what, it's not like me to just do five handles, I always got to over deliver. So let's just go 10 handles, and then I showed you that they were |
| 198 | 00:27:55,050 --> 00:28:03,570 | to fair value gaps there and then added the 2022 model and the rules right out of the book of ICT in 2022. It says that if there's two fair value gaps, you |
| 199 | 00:28:03,570 --> 00:28:11,670 | have to allow for the market to trade up into the second one. So I was being a little bit more demanding on price action, and really being willing really to |
| 200 | 00:28:11,670 --> 00:28:18,900 | let it go. Without me that didn't do it. But I wanted to wait and see if that trade up in this second pair of Vega, the higher one and I built the context |
| 201 | 00:28:18,900 --> 00:28:27,030 | around that bearish breaker, we can trade inside of the range of that breaker before it even really moves away from it. Once you understand the narrative, |
| 202 | 00:28:27,030 --> 00:28:37,350 | once you understand what it's likely to do, you can go in and do very, very refined entries. And I outlined that breaker, I outlined a fair value gap and |
| 203 | 00:28:37,350 --> 00:28:44,370 | the delay of trading view and because you can see me I pushed a button and it didn't, didn't execute. It was a wait and even complained that I said, Look, you |
| 204 | 00:28:44,370 --> 00:28:50,640 | saw me push the button. And it was a delay with them filling me which is fine. It's okay. But you're gonna have that too. Sometimes your broker is going to |
| 205 | 00:28:50,640 --> 00:28:58,320 | give you a free quote, maybe twice, sometimes, and you won't get the feel you want that's going to happen, it's going to happen in the real world to not just |
| 206 | 00:28:58,320 --> 00:29:06,960 | in paper trading is going to happen. But does it change the overall understanding of what you're looking for in that setup? If it doesn't, then it |
| 207 | 00:29:06,960 --> 00:29:15,030 | is what it is. You have to manage it now you have to trade your way through that. And that is a market truth that you're not always going to get your best |
| 208 | 00:29:15,030 --> 00:29:22,320 | Phil, you're going to get slippage. Does it change anything if it doesn't fundamentally change anything? You submit to it, you don't get all nervous and |
| 209 | 00:29:22,320 --> 00:29:29,700 | freak out thinking oh, no, this trades gonna be a loser. Look at all this and you start obsessively, compulsively thinking about what didn't happen for you |
| 210 | 00:29:29,700 --> 00:29:36,480 | favorably with your entry, like I used to do as a 20 year old and then completely distract yourself from paying attention to what the price is doing. |
| 211 | 00:29:36,690 --> 00:29:43,680 | And maybe giving you warning signs that you're no longer in a viable trade, but you still hold on to it and it stopped you out. So you have to be careful with |
| 212 | 00:29:43,710 --> 00:29:51,270 | not making a mountain out of a molehill. But I framed that breaker even explained it can go one tick above that breakers high, which would be |
| 213 | 00:29:51,270 --> 00:30:01,050 | reasonable. And then I said it would go lower and it was this beautiful, beautiful and it was just like I see 90% of the time but things I talked about, |
| 214 | 00:30:01,080 --> 00:30:10,650 | I'm trying to show you that these things are repeating with a level of precision, consistency and continuity that is outside the scope of what would be |
| 215 | 00:30:10,650 --> 00:30:17,760 | reasonable in this industry. And that should be encouraging. It should be very encouraging. And if it can be like that for me, and it can be like that for my |
| 216 | 00:30:17,760 --> 00:30:25,440 | students, then it can be like that for you too. But you have to do what you have to show up every day. And you have to go through the motions. Like everybody |
| 217 | 00:30:25,440 --> 00:30:32,610 | else that's making big money with this stuff. They didn't learn it right away, they floundered with it. They hemmed and hawed and thought, well, you know, I'm |
| 218 | 00:30:32,610 --> 00:30:35,850 | probably gonna quit, everybody feels like that once in a while. It's like exercising, |
| 219 | 00:30:35,910 --> 00:30:43,800 | you think you're gonna get the 21 inch guns just because you started working out three weeks ago, but I'm drinking protein shakes takes time. And and this is no |
| 220 | 00:30:43,800 --> 00:30:52,770 | different. It's actually vaccine. It's way different. It's really hard because you're competing with your expectations that are many times unrealistic, which |
| 221 | 00:30:52,770 --> 00:31:00,900 | is the reason why I teach you to do very low hanging fruit objectives. Five handles is easy hooks. Easy. How many times have you sat with a live stream and |
| 222 | 00:31:00,900 --> 00:31:06,300 | said, Okay, it's going to do this is gonna be five minutes, boom, it delivers it, okay, it's gonna go down here, boom, it's gonna be five to five deals are |
| 223 | 00:31:06,300 --> 00:31:14,100 | all over the place, you can be making 20 handles a day, in a market that ain't seeing sustained one way runs of 20 handles, this is back and forth, it takes |
| 224 | 00:31:14,100 --> 00:31:21,570 | time to get there are you willing to give yourself that permission to develop over time, because sometimes you aren't some of you listening, haven't really |
| 225 | 00:31:21,570 --> 00:31:29,700 | given yourself permission to take the time that's required for you, you didn't lead finding your own model, not trying to keep up with your friend on social |
| 226 | 00:31:29,700 --> 00:31:36,780 | media circle, the guy that puts you into trading, you want to catch up to him or your girlfriend, it's been starting the same time as you she's understanding a |
| 227 | 00:31:36,780 --> 00:31:42,720 | little bit more, and you're trying to keep up with her. That's not how you're supposed to be doing this. If you're competing with someone else outside of |
| 228 | 00:31:42,720 --> 00:31:52,500 | yourself, you're doing it improperly. And that's a market truth. You can't do those things and grow well, at a normal growth rate without having performance |
| 229 | 00:31:52,500 --> 00:32:02,130 | anxiety, regret, remorse, because you can't keep up with someone else. I mean, you've seen me do many times several, several instances of over 100 handles at |
| 230 | 00:32:02,130 --> 00:32:08,910 | handles with the handles when the markets moving like that. But what am I teaching you? Am I saying go after those moves like that? No, I'm not saying |
| 231 | 00:32:08,910 --> 00:32:18,270 | that. I'm saying go in look for five handles, because every session, every session, London, New York am lunchtime, New York pm session, all of them have an |
| 232 | 00:32:18,270 --> 00:32:26,130 | opportunity for you to go in there very, very easily. And pull out five handles every single session, every single one of them now is that me inviting you to go |
| 233 | 00:32:26,130 --> 00:32:34,740 | out there and do that? No, it just shows you that you have an open field of opportunity where you can just go out there and take it by force when you know |
| 234 | 00:32:34,740 --> 00:32:42,120 | what you're looking for, how to anticipate it, how to stalk your prey and know when it's going to show up. When you're a hunter, I can't help times I just I |
| 235 | 00:32:42,120 --> 00:32:48,600 | just can't bring myself to do it. I guess we got hungry enough to go out and kill something. But hunters they got the by these, these trail cams, and he put |
| 236 | 00:32:48,600 --> 00:32:55,200 | it up and they leave it out there for a week or so and then come back and download and see if there's any deers coming around. It tells him the time and |
| 237 | 00:32:55,200 --> 00:33:03,030 | the date and when they see him so they know what they have an inside advantage that they need to put their tree stand up hours before this thing usually comes |
| 238 | 00:33:03,030 --> 00:33:12,090 | through and it is wait around for it. Okay? Well, that same thing happens when you see what it is I'm teaching, I've already set these trail cams up their |
| 239 | 00:33:12,120 --> 00:33:19,410 | their windows in trading to kill zones, I knew the macros is going to happen. I know what the markets going to do. I know when the price is going to school, I |
| 240 | 00:33:19,410 --> 00:33:26,190 | know what liquidity is going to reach for. And I'm not talking out of my ass because I'm proving it on Twitter live in tweets that can't be augmented or |
| 241 | 00:33:26,190 --> 00:33:34,380 | changed. I'm not deleting anything. And you see it in the live streams live, right every one minute candle that should be building confidence in you. And I |
| 242 | 00:33:34,380 --> 00:33:43,980 | love seeing the students that are seeing at the end of the last danger. Like I felt amazing watching, I felt so comfortable watching how price was moving. And |
| 243 | 00:33:43,980 --> 00:33:49,980 | you would say it was going to do this and it did it. And then you would expect it to do that. And it did it and then it delivered to the next thing you said |
| 244 | 00:33:50,010 --> 00:33:59,430 | that is not randomness that's not randomness. And it should be very comforting that you're in good hands. You're with somebody that has the ability to transfer |
| 245 | 00:33:59,430 --> 00:34:04,200 | this information to you just look around there's people making lots of money with it doesn't mean you're gonna go out and make lots of money with it to |
| 246 | 00:34:04,230 --> 00:34:11,280 | probably not because you're going to mess it up. If you don't listen, we all do that. But you're growing in your understanding about it. And these elements of |
| 247 | 00:34:11,280 --> 00:34:21,360 | time coupled with liquidity coupled with inefficiencies and repricing to make them efficient, meaning a fair value gap gets repriced to so it's no longer one |
| 248 | 00:34:21,360 --> 00:34:30,420 | candle holding all of that price action alone. It's now been fortified by a redelivery of opposing market delivery. So a down closed candle that's a fair |
| 249 | 00:34:30,420 --> 00:34:38,790 | value gap. We have an up candle trading up into that range. So now we have a repricing once it leaves that range and goes away from it then it's rebalanced. |
| 250 | 00:34:38,820 --> 00:34:47,760 | What is going to look for then an opposing pool of liquidity or an opposing array that is inefficient that needs to be made efficient. How hard is that? |
| 251 | 00:34:47,940 --> 00:34:57,120 | That's not hard. It's very easy. It's not complicated at all. What makes it complicated is you want to know the daily bias every single day flawlessly |
| 252 | 00:34:57,150 --> 00:35:05,250 | that's that's the that's the hang up that most the most units have coming in to me and asking me to teach them. If you could just teach me a real simple five |
| 253 | 00:35:05,250 --> 00:35:12,900 | minute video on how I can know the bias, and I can do the rest. Now you'll lose money, you'll, you'll lose money, you'll do it, you'll you'll go in there, and |
| 254 | 00:35:12,900 --> 00:35:19,830 | you'll rush to get in or you'll wait for confirmation and it'll move too far. And you'll try to use a stop loss that isn't reasonable. It's going to pull back |
| 255 | 00:35:19,860 --> 00:35:27,360 | in a normal retracement stop you out, which would be a new buy signal. But you won't see that because you're now upset. And then it Mark runs away. And you |
| 256 | 00:35:27,360 --> 00:35:34,800 | think this is crap. Nobody makes money with ICT concepts. When it's you rushing to do something that you don't have to do. It's simple, but you don't want to |
| 257 | 00:35:34,800 --> 00:35:42,360 | see that. Just like I have students out there that are raising up pitchforks and torches. We're gonna get your eyes at your shit don't work. Well, I got receipts |
| 258 | 00:35:42,360 --> 00:35:48,930 | that says otherwise. And I got people all around them real proven it does. And I'm doing live streams proven it does. And there it is. But you're gonna be just |
| 259 | 00:35:48,930 --> 00:35:55,890 | like them if you don't listen to me. And I told him the same things I'm telling you right here in those long drawn out lectures over live data, just like you |
| 260 | 00:35:55,890 --> 00:36:03,240 | watched me do today. And just like you watched me do on Tuesday. And if you can't learn under those teaching lectures like that, I promise you listen, Okay, |
| 261 | 00:36:03,240 --> 00:36:09,990 | listen, I want you to understand how I don't need your ask to watch me. I don't need your ad revenue. I don't need you to support me on Twitter. I don't need to |
| 262 | 00:36:09,990 --> 00:36:19,470 | answer. I'm here for the people that want to learn. But if you don't see value in the things I'm doing in the amount of time I'm pouring into, this is not ad |
| 263 | 00:36:19,470 --> 00:36:27,420 | revenue generated here. I'm talking to you with no monetization. And this is where the real shit is. This is where the real lecturing the real mentoring. |
| 264 | 00:36:27,570 --> 00:36:34,470 | This is where it's at. Because I've already talked about those live streaming things that I'm pointing out that's already been explained to you. Some of you |
| 265 | 00:36:34,470 --> 00:36:42,450 | just need to see Can he really do it? Yes, of course I can. My students would have added me years ago, I've every year was saying if I'm not calling these |
| 266 | 00:36:42,450 --> 00:36:49,890 | markets live right now, every day behind my paywall, all my students come out here and say I'm a fraud. I'm not calling it right. And it never happened. No, I |
| 267 | 00:36:49,890 --> 00:36:56,940 | got more people signing up. And they found out that it was just like that, and you're seeing just what I was doing with them. It's just like this. It's been |
| 268 | 00:36:56,940 --> 00:37:03,990 | like this for years. It didn't just start working. But some of you think that this now just started working, or it's going to stop working. Because I have a |
| 269 | 00:37:03,990 --> 00:37:10,950 | lot of students the algorithms, they're gonna change the algorithm Michael, here's the market truth. It ain't fucking changing. It's not Oh, they're gonna |
| 270 | 00:37:10,950 --> 00:37:20,550 | change the tier one, tier two. It's not changing shit. It's not gonna change anything. That's not changing any thing. Trust me, okay, this stops working, |
| 271 | 00:37:20,640 --> 00:37:29,130 | when you cannot trade period when they take trading away from us sometime in a long distance future or maybe in the near future? I don't know. But there will |
| 272 | 00:37:29,130 --> 00:37:37,140 | be a time some nutcase will come out there and say, we're taking this from you. We're making it illegal for you to do it. It sounds far fetched. But man, |
| 273 | 00:37:37,140 --> 00:37:44,130 | listen, the last three years anything can happen now they're saying ETS real. I was telling the private mentorship group. This week for comedy remastered the |
| 274 | 00:37:44,130 --> 00:37:53,490 | Pentagon came out and said that there's a alien mothership in our solar system sending probes or our planet. This is our Pentagon, Chief UFO person, it's |
| 275 | 00:37:53,520 --> 00:38:00,120 | they've made the person that's in charge of all that crap. That's the that's the bullshit. They're saying that science fiction stuff and I told you I was coming. |
| 276 | 00:38:00,150 --> 00:38:08,730 | Well, here we are, we're in it. I mean, I could go on all kinds of rabbit trails and go off on a rant here, but I'm gonna try to dial it back in, you are gone, |
| 277 | 00:38:08,760 --> 00:38:17,130 | you're going to see by submitting and listening to these conversations because I want you to look at me not as your educator, I want you to look at me like |
| 278 | 00:38:17,130 --> 00:38:25,260 | you're your best friend in the marketplace. I'm the voice of reason for you. And I'm the person is trying to keep you on the right track. Not overleveraged not |
| 279 | 00:38:25,260 --> 00:38:34,230 | risk not gamble. Look for things that make sense. And stay on the well beaten track. The trail that I've forged for you, I've walked this path a lot I know |
| 280 | 00:38:34,230 --> 00:38:41,400 | it, I can walk it blindfolded. You haven't you don't know where the thorn bushes are, you don't know where that little root that sticks up in the ground that |
| 281 | 00:38:41,490 --> 00:38:47,940 | nobody else that knows about it would trip over. But I know where it's at. You don't know where the pitfalls are. You don't know where the poison ivy is, you |
| 282 | 00:38:47,940 --> 00:38:55,500 | don't know any of that stuff. So I'm lending you my experience through Twitter, calling out specific levels and watching what it should reach for. And I'm |
| 283 | 00:38:55,500 --> 00:39:03,060 | giving you those opportunities to have that epiphany, that moment of astonishment where you're like, oh, man, I see this. This keeps happening. |
| 284 | 00:39:03,090 --> 00:39:08,880 | There's something to this. That can't be random, right? It's not. I've been telling you all that it's not random. But some of you have to have that |
| 285 | 00:39:08,880 --> 00:39:16,530 | experience before you ever put any work into it. Like I don't have to do these live streams. I enjoy it. I don't have to do all this talking on Twitter and had |
| 286 | 00:39:16,530 --> 00:39:23,610 | my wife look at me all day long. Like why are you on the phone still? It's Twitter honey looks at here's what I'm doing. You talk to them too much. They |
| 287 | 00:39:23,610 --> 00:39:30,540 | probably tired of hearing from you. I'm sure some of them are but other people figure I'm not tweeting enough. So you know, it is what it is I'm doing because |
| 288 | 00:39:30,540 --> 00:39:38,820 | I have to do it. You can turn the notifications off if you don't wanna hear from me. But if you can't find the value in me explaining in detail like the most |
| 289 | 00:39:38,820 --> 00:39:46,590 | recent student of mine, Alex, he made it very good point. You know, if if I didn't know what I was talking about, I wouldn't have the volume of work that I |
| 290 | 00:39:46,590 --> 00:39:48,960 | have on YouTube like and I'm not even done. |
| 291 | 00:39:50,610 --> 00:39:58,470 | Shit I have so much I could still teach on it's ridiculous, but you don't constantly have to be learning new stuff to be profitable, which is the point of |
| 292 | 00:39:58,470 --> 00:40:07,980 | this discussions unfolding truths you you don't need much but you need to know what it is that you're looking for, for instance opening range that first 30 |
| 293 | 00:40:07,980 --> 00:40:15,510 | minutes of trading trading the ES ICT Why don't you talk about forex? I don't want to talk about forex right now, my attentions on futures, the things I'm |
| 294 | 00:40:15,510 --> 00:40:24,180 | teaching you work in forex. So just take the information and apply it to Forex. Just like you all that trade crypto, you've heard me say, I'm not interested in |
| 295 | 00:40:24,180 --> 00:40:30,480 | crypto, and the ones that are very respectful said, Okay, well, I'm not going to bother man about it no more, I'm going to trade it. But you know, he's not going |
| 296 | 00:40:30,480 --> 00:40:37,440 | to do it. So I can't twist his arm in, he's an old old dog doesn't wanna learn new tricks. And there it is. And you just filter it out. While I'm asking you, |
| 297 | 00:40:37,440 --> 00:40:44,220 | if you're a forex trader, filter out the fact that I'm not talking about forex, I'm still talking about forex, I'm still telling you, you know, from a macro |
| 298 | 00:40:44,220 --> 00:40:51,210 | perspective, where it's where the dollar is gonna go, where's the pound gonna go and the Euro Dollar is gone. But I don't need to do it every single day. Because |
| 299 | 00:40:51,360 --> 00:40:58,020 | we're I'm giving you analysis, it takes time for those big moves to pan out that swing trading models. So I'm giving you that approach where I don't have to |
| 300 | 00:40:58,020 --> 00:41:08,100 | babysit it every single day. And also by understanding that if I'm using market analysis concepts from a macro perspective, risk on risk off, if ES is dropping, |
| 301 | 00:41:08,130 --> 00:41:14,790 | grow, I'm expecting to be bearish, what do you think I'm expecting for the dollar index is going to go higher? Dave, if you're listening, you want to have |
| 302 | 00:41:14,790 --> 00:41:24,390 | the dollar index in your analysis, even when you're trading the ES because markets symmetry is perfect when it's like this dollar up, es down foreign |
| 303 | 00:41:24,390 --> 00:41:34,140 | currencies down all lower lows and higher highs are confirmed across the board. That's market symmetry. As soon as you start seeing es higher, forex higher and |
| 304 | 00:41:34,140 --> 00:41:44,100 | dollar not going lower. But consolidating, that means that you have a condition that's manipulation, that means that ES and or Forex can go up higher, higher |
| 305 | 00:41:44,100 --> 00:41:53,670 | high, and then the real news starts happening. So it's important to not just throw out the dollar index, because you're watching two markets, it's important |
| 306 | 00:41:53,670 --> 00:42:03,690 | to understand how markets symmetry aids, the traders perspective and analysis technique, because there's a different degree of market delivery, whether it be |
| 307 | 00:42:03,720 --> 00:42:11,670 | high resistance, high resistance would be in conditions like where the dollar index has been held in consolidation, and you can still see forex pairs going |
| 308 | 00:42:11,670 --> 00:42:18,630 | up, es going up, but dollar fail and make the low low. That means you have to trade that differently. What kind of environment is that? That's high |
| 309 | 00:42:18,630 --> 00:42:25,590 | resistance, you're gonna have to go through some before you get your targets met versus a symmetrical market. See, these are the things you should be writing |
| 310 | 00:42:25,590 --> 00:42:34,260 | down. This is million dollar making stuff here, folks. Okay. I mean, I gotta bullshit. Yeah, this is the stuff that makes your trading superior to everybody |
| 311 | 00:42:34,260 --> 00:42:42,870 | else. But you don't realize it because you're not in these discussions, taking notes and going into charts saying, Oh, wow, hey, line, it's right there, right? |
| 312 | 00:42:43,530 --> 00:42:50,850 | Yes, I'm leaving it to you to go into those price moves and see it, I'm not going to do all that work for you. I'm not convincing myself, I know this stuff, |
| 313 | 00:42:50,880 --> 00:42:58,230 | you need to be convinced of it. And it doesn't happen by me doing a video where I do all the work for you, or condense it down to cliffnotes. Like everybody |
| 314 | 00:42:58,230 --> 00:43:06,660 | else is asking for people. Hey, look, when you do his Twitter space on your YouTube channel, can you give me the transcript and the condensed version and |
| 315 | 00:43:06,660 --> 00:43:13,110 | the notes that you took during that? Because I really don't want to listen to it. He talks too much. He's full of shit. He does all these extra stuff, and I |
| 316 | 00:43:13,110 --> 00:43:21,660 | got time for that. I got things to do. Right? You got things to do losing money, okay, you got a real fast track on losing money. And then you're going to be |
| 317 | 00:43:21,660 --> 00:43:29,940 | down three months later saying ICT concepts don't work. Let me go here and trade this Yahoo's stuff. You're the problem. I'm not you are because I'm laying it |
| 318 | 00:43:29,940 --> 00:43:39,000 | out here. All of that it's happening for free. And I'm proving it live. But you don't want to listen because you think your your time is too valuable right now, |
| 319 | 00:43:39,030 --> 00:43:47,610 | when this is an investment in yourself. I feel like you're worth it. I'm listen, then. I don't need to do this stuff. Like I don't need to do this. I'm not |
| 320 | 00:43:47,700 --> 00:43:54,210 | priming you for another mentorship run where I can get more money. at NAU, I'm doing this because I love is my life. This is what I've been doing my entire |
| 321 | 00:43:54,210 --> 00:44:02,700 | life. I love this. I love teaching people how to do it. I love transforming people's lives and their mindset about who they are as a person and what they |
| 322 | 00:44:02,700 --> 00:44:11,190 | can accomplish. If I believe that you're worth investing the time and energy in why the fuck aren't you? Why don't you think that about yourself? And then and I |
| 323 | 00:44:11,190 --> 00:44:18,840 | got time for that. Let me give me the you know, the commercial grade five minute trainer version of this stuff. And then you wonder why you got dollar menu |
| 324 | 00:44:18,840 --> 00:44:26,430 | results. It's not because the concepts don't work. It's because you're half assing it you're using a half assed mentor watered down cliffnotes version of |
| 325 | 00:44:26,430 --> 00:44:34,740 | what I'm pouring out walking you through the logic why it should do this and why it shouldn't do that. There's, there's reasons for these things to be even |
| 326 | 00:44:34,740 --> 00:44:41,070 | talked about. And while you might not understand it, I don't like all these other PD arrays. Well, in the beginning, you got to know all of them doesn't |
| 327 | 00:44:41,070 --> 00:44:47,580 | mean you're going to use all of them going into your career, but you need to understand all of them until you settle in on the one you like and what does |
| 328 | 00:44:47,580 --> 00:44:55,230 | that mean what I did on Tuesday, I told you that we are going to rally up and take that 28 level out and that's five handles. I don't want to buy it goes |
| 329 | 00:44:55,230 --> 00:45:02,430 | against what I wanted to do. Okay, I told you we are above the old high we're in buyside it's gonna sell off there. I don't want to take that as a short, I'm |
| 330 | 00:45:02,430 --> 00:45:08,730 | going to wait for the displacement. Okay. Well, there's there's another trade right there. And then I told you we were waiting for the fair value got my mind |
| 331 | 00:45:08,730 --> 00:45:17,760 | was settled in on taking that trade. That's what it's like for you, you'll see all these PD erase Yeah, looking in and being distracted. Oh, I don't like |
| 332 | 00:45:17,760 --> 00:45:24,210 | breakers but look at that breaker right there the whole time it's forming institutional order flow entry job, which might be your entry technique. That's |
| 333 | 00:45:24,210 --> 00:45:32,220 | your multiplier. That's your model, you're aware of the breaker, much like I used on Tuesday, that wasn't the entry criteria, but it was being utilized to |
| 334 | 00:45:32,220 --> 00:45:41,700 | show you how far it can retrace and not take out that high it made you understand that you can can you draw the importance of knowing the PD erase for |
| 335 | 00:45:41,700 --> 00:45:50,640 | that purpose alone. Now the breaker in itself if if you weren't taught the fair value, you would have been using that breaker as an entry only after it moved |
| 336 | 00:45:50,640 --> 00:45:57,540 | away from it and then bumped the bottom of it. That's far less of a premium dem where I entered it with the fair value gap the second higher one, see the |
| 337 | 00:45:57,540 --> 00:46:04,380 | difference there. Now, some of you might feel like I feel comfortable trading the breaker when it worked away from it and came back up and retested it. I'm |
| 338 | 00:46:04,380 --> 00:46:10,020 | used to seeing it, that's what I want to do. Because you're comfortable. Well guess what? Don't let me change or anyone else talk you out of it. That's your |
| 339 | 00:46:10,020 --> 00:46:17,130 | model bloom where you're planted. But you can't just go out there and say, Yeah, I don't know what I'm doing. I don't know this model or any model, really. But |
| 340 | 00:46:17,670 --> 00:46:25,080 | is this Is this too much stuff, I'm not going to do it. But then you're lazy. That's, that's the bottom line, you're lazy. And I don't want to see people |
| 341 | 00:46:25,320 --> 00:46:33,390 | adding my handle on Twitter, talking shit like that. So I mute them, I'm not trying to block them. So they can't see anything on teach. But I just don't want |
| 342 | 00:46:33,390 --> 00:46:40,800 | to see that shit. So I hit mute. And there it is, you can talk out your ass all you want, but you're doing it with a half ass approach. And you're gonna be that |
| 343 | 00:46:40,800 --> 00:46:48,360 | same person once down the road that will not find the results that other students of mine are doing, and they're killing it. And you're walk away |
| 344 | 00:46:48,360 --> 00:46:56,730 | thinking that, you know, this isn't all that wonderful move on down the road. Like, I'm not here for you to worship me. I'm here to invest my time and energy |
| 345 | 00:46:56,730 --> 00:47:05,040 | into you. And I can leave social media in November and not have to worry about it. Because I know I've done more than enough. But that opening range that first |
| 346 | 00:47:05,040 --> 00:47:12,270 | 30 minutes, how do we open a net? are we opening with a premium? That means are we opening higher than where we closed in the regular session hours day before? |
| 347 | 00:47:12,390 --> 00:47:21,360 | Or are we opening lower? If we're opening higher, that's a premium, not in the sense that I'm teaching premium and discount for the pdra matrix, it just means |
| 348 | 00:47:21,360 --> 00:47:29,670 | that we're opening with a gap higher. And that's a premium, meaning that it's too expensive right now, and we have to see does it have to finish a higher |
| 349 | 00:47:29,670 --> 00:47:37,860 | timeframe price round, which is what we saw today where the market opened at a premium, it rallied up and traded to that 4039 level, the five minute fair value |
| 350 | 00:47:37,860 --> 00:47:45,420 | got the city which ended up being the high the day market traded lower and eventually went right into that opening range gap. So it went from opening in a |
| 351 | 00:47:45,420 --> 00:47:55,980 | premium at 930. trading higher only to reach a higher timeframe premium array and then sell off which brings in the idea of Day of Week and time of day |
| 352 | 00:47:56,040 --> 00:48:06,180 | Today's Thursday. And we've seen it rally up this week. And Thursday tends to not all the time but tends to create the opposite end of the weekly range so we |
| 353 | 00:48:06,180 --> 00:48:15,960 | can anticipate some likelihood of the market topping out and always going in anticipating some reason for it to do what trades off to go lower. We saw that |
| 354 | 00:48:15,960 --> 00:48:24,000 | today it rally higher and then ultimately gave up the ghost and went lower than it did yesterday after FOMC trading down into some random level new week opening |
| 355 | 00:48:24,000 --> 00:48:31,860 | gap failed to get down to the new week opening got low by ticker two. But that's okay. That's close enough, right significant drop in the afternoon, when we |
| 356 | 00:48:31,860 --> 00:48:40,350 | started the livestream, I was outlining where I thought the market was gonna go what it shouldn't do, why should gravitate lower and I walked you through every |
| 357 | 00:48:40,350 --> 00:48:47,790 | single candle. This is what it should do. We don't want to see this but it could spike up here and that'll be great because that would be knocking out trailed by |
| 358 | 00:48:47,790 --> 00:48:56,010 | stops and then it's probably gonna have a really sudden drop. It didn't do that. It wasn't just the high of that opening range gap, orange or tan shaded |
| 359 | 00:48:56,070 --> 00:49:03,570 | rectangle ahead in the live stream. It went right back up to that and then started selling off and then created what every up close candle we're expecting |
| 360 | 00:49:03,570 --> 00:49:12,060 | it to do what repel price? Because what they're shorter block every consequence of a wick. Hi treat that as what a premium array go up there. Does it repel |
| 361 | 00:49:12,060 --> 00:49:19,350 | price? Yes, it does volume imbalances. Is it going up there? Repelling price? Yes. Can it trade through a volume imbalance come back down below and act as |
| 362 | 00:49:19,350 --> 00:49:27,750 | resistance? Yes, all this movement in price action was being explained to you. What's the next discount rate, that fair value at 85 traded down into it, then |
| 363 | 00:49:27,750 --> 00:49:31,350 | that tells you what it's going to reach for the low of that opening range gap |
| 364 | 00:49:31,469 --> 00:49:38,759 | low and it shaved down into that I said nothing goes there. It's going to reach into the newly open and get high and it did that. So okay, well watch the |
| 365 | 00:49:38,759 --> 00:49:49,559 | consequent encroachment. Every time that I point to something your job is to observe and pull in that experience. Do you feel anxious? Do you doubt that it's |
| 366 | 00:49:49,559 --> 00:49:56,489 | going to do it? What are you feeling? In the beginning you want to have all your critical thoughts written down? And then over time while you're building your |
| 367 | 00:49:56,489 --> 00:50:06,179 | model and you're back testing, you're not recording anxiety or or stress driven annotations, you're recording the perspective that that you knew it was going to |
| 368 | 00:50:06,179 --> 00:50:15,599 | happen. And you're tricking your brain with positive self talk, which cancels out all of the necessary evils that come in, in the beginning for a trader, for |
| 369 | 00:50:15,599 --> 00:50:22,679 | them to want to quit, you're gonna cancel that, because you're feeding yourself positive self talk, the move, you may not have seen it coming in, you're looking |
| 370 | 00:50:22,679 --> 00:50:29,729 | at it in hindsight, but you're recording it in your journal, like you did in your subconscious retains that. And because you're seeing something that repeats |
| 371 | 00:50:29,729 --> 00:50:37,049 | because of the way it forms fair value gaps and delivery to old lows, and old highs and imbalances, when you're watching it live with me. And I've saw some |
| 372 | 00:50:37,049 --> 00:50:43,139 | people today, they were commenting. And so it's not just today, I've seen it several times in the past, when I was doing the live streams, you're |
| 373 | 00:50:43,139 --> 00:50:50,369 | anticipating before I say what it is, I'm saying you're you're already seeing it. And you're saying that it feels good that you're seeing it before I say it, |
| 374 | 00:50:50,429 --> 00:50:56,459 | that's exactly what you want to experience. In the beginning, you may not feel like that. And that's okay. That's why I'm doing the live streams, I want to |
| 375 | 00:50:56,759 --> 00:51:05,339 | teach you, I want to teach you by example, with my ability to be able to do it real time with you, I'm comfortable doing, I'm confident, I'm comfortable, I'm |
| 376 | 00:51:05,339 --> 00:51:14,009 | good at it, you're in good hands, I'm doing it enough. So that way you can go in and then do it on the days, I'm not doing it. And practice, record what your |
| 377 | 00:51:14,009 --> 00:51:22,049 | observations are, and not be emotionally strung out because it doesn't pan out like you want. Because you kind of have that in days where you're gonna try to |
| 378 | 00:51:22,049 --> 00:51:27,299 | put a trade on, and it's not going to move in your favor. And you're gonna wrestle with that, and some of you are gonna get angry, some of you are going to |
| 379 | 00:51:27,299 --> 00:51:34,109 | be resentful, and you're going to do something stupid, you're going to over leverage, you're going to trade too much, and you're gonna hurt your account or |
| 380 | 00:51:34,109 --> 00:51:41,429 | blow it lose your fund that account. And I'm trying to teach you how not to do those things, how to focus on times when you know, it's gonna be hard when I say |
| 381 | 00:51:41,429 --> 00:51:47,339 | it's gonna be high resistance. Liquidity run doesn't mean you can't move, it just means that it's going to be very, it's almost like the price is being |
| 382 | 00:51:47,339 --> 00:51:54,929 | argumentative. Yeah, it's gonna go there, but it's gonna be begrudgingly about it. That's good. I don't want to go there, Bob. Okay, I don't want to go to that |
| 383 | 00:51:54,929 --> 00:52:01,799 | by side, right. When I when you want it, I don't want to do it, then I'll do it on my own time. That's what it feels like when I've tried to personify with |
| 384 | 00:52:01,799 --> 00:52:08,099 | price action is dealing like, if I'm arguing internally with price, like, why aren't you doing what I wanted to do? Why aren't you doing what? Why don't you |
| 385 | 00:52:08,099 --> 00:52:15,149 | submitting to what I know you should be doing right now. And I view it as it's arguing with me saying, Listen, you want me to do it? So therefore I'm not going |
| 386 | 00:52:15,149 --> 00:52:25,649 | to do it. But my wife, can you do this? Look, I'll do when I'm ready to do them, right? It's done. Submit to the process, right? So with price in a low |
| 387 | 00:52:25,649 --> 00:52:37,469 | resistance, liquidity, it's very, it's almost like it wants to do it before you ask it. It's telegraphing, I'm going here, everybody stop is up here. Okay, I'm |
| 388 | 00:52:37,469 --> 00:52:44,879 | gonna go up there for you. And I'm gonna do it really fast. Because I don't want you to grow impatient ICT, it's gonna, it's gonna be so quick for you, all you |
| 389 | 00:52:44,879 --> 00:52:54,389 | have to do is to sit back and let me reach your limit order. I promise you big guy and let it take care of you. I'm gonna take it right home, baby, I'm gonna |
| 390 | 00:52:54,389 --> 00:53:02,189 | get it right. And that's what it feels like, it feels like Christmas morning. And that's what you're trained to see as my student, because there's a totally |
| 391 | 00:53:02,189 --> 00:53:10,889 | different experience trading those types of markets, those days, those sessions where it just feels like what the hell just happened? That was so easy. And |
| 392 | 00:53:10,889 --> 00:53:17,639 | here's the problem with it. This is the part where you write this down. Okay. When you have these windfall victories in these low resistance, liquidity |
| 393 | 00:53:17,969 --> 00:53:26,219 | conditions, when you have that when it's like me, that took like, no effort at all, it was very fast. I gotta go in there and do it again. That's the trap. |
| 394 | 00:53:26,279 --> 00:53:33,689 | That is the trap. When you have these easy windfall days, these goobers out there that like that sock puppet and troll people, because they can't get |
| 395 | 00:53:33,689 --> 00:53:41,009 | attention. They'll tell you, you got to push your edge and don't take partials got to go in here and do it again. And then lose what you made. If not all of |
| 396 | 00:53:41,009 --> 00:53:49,499 | it, some of it which is stupid, you're throwing good money. You're throwing good money after bad The point is the trade in these environments, get your easy wins |
| 397 | 00:53:49,529 --> 00:53:59,939 | and go home happy about it. We're not in this industry to do lots of trading. I took 15 freakin trades today and they were 12 wins out of 15 baby look at me I'm |
| 398 | 00:53:59,939 --> 00:54:07,169 | an eighth really I went in there and traded for 20 minutes made your whole monthly salary and I went out and started watching movies and playing with my |
| 399 | 00:54:07,169 --> 00:54:13,919 | kids in the park and you're at your sweat and trying to get 15 trades and didn't even do what I did see the difference there? Everybody's perspective is skewed. |
| 400 | 00:54:13,949 --> 00:54:22,889 | Mine is I want to go in when it makes the most sense to do it. I want to be in there easy in and out. Bang it's done. I want to be in the trades that run not |
| 401 | 00:54:22,889 --> 00:54:30,899 | just hang around. I'll get there when I get there ICT just hold your britches. I don't like that. I like shit my way. They named streets after me one way and I |
| 402 | 00:54:30,899 --> 00:54:36,809 | want my way. Okay. Some of you come to me. You want to have it your way mentorship, like it's Burger King here at Burger King. We're not flipping |
| 403 | 00:54:36,809 --> 00:54:45,209 | fucking burgers. Okay, we're flipping accounts. Okay, we're taking things to whole new levels here and we want to go in when there's a jet pack behind our |
| 404 | 00:54:45,209 --> 00:54:52,979 | trade and just boom, it's gone. Now we're talking hyperspace, we're not wasting time. Wondering when it's going to move. We know when it's going to move. We |
| 405 | 00:54:52,979 --> 00:55:00,779 | know how it's going to move and it's going to be quick, expedient delivery. That's what you're being trained to look for. You can appreciate it Identify |
| 406 | 00:55:00,809 --> 00:55:09,389 | until you see these types of conditions, you won't understand it, you won't see the difference. The characteristics are different. For instance, look at how it |
| 407 | 00:55:09,389 --> 00:55:16,079 | traded this morning going on, it was a little lethargic for a little bit and boom, boom, ran up into that 40 level, then it had a little bit of give and take |
| 408 | 00:55:16,079 --> 00:55:23,849 | back and forth as it was dropping down. And then once it got below that 4010 level that need to open gap and trade it back up in the daily fair value gap |
| 409 | 00:55:23,849 --> 00:55:31,079 | City High. That was it, then we entered into what low resistance liquidity run, where's it going to reach for filling in that opening range gap, the difference |
| 410 | 00:55:31,079 --> 00:55:37,229 | between where we opened in the morning at 930. And where we closed in the regular session hours yesterday, and I walked you through it live in the |
| 411 | 00:55:37,229 --> 00:55:46,259 | afternoon, you can't appreciate it until you see both sides of it. And when I'm prompting you, I'll say you want to log how you feel right now some of you think |
| 412 | 00:55:46,259 --> 00:55:55,829 | that that means go into your journal and bitch to yourself about how it's hard. No, you need to be saying prices being very fickle. It's being very demanding of |
| 413 | 00:55:55,829 --> 00:56:03,869 | my patients. It's not delivering as fast as I would like to see it. Do you see how that sounds versus this market sucks. This is chop city, this is garbage. |
| 414 | 00:56:03,869 --> 00:56:12,059 | This is trash market conditions, blah, blah, blah. How's that useful? emotionalize is that experience where now you're viewing it subconsciously, |
| 415 | 00:56:12,059 --> 00:56:18,299 | because you put that in your journal, oh, this is trash. This is garbage trading conditions. So now our is that going to be a market environment you're going to |
| 416 | 00:56:18,299 --> 00:56:24,629 | feel comfortable with, if you see a setup, you might see the setup, you might want to take the setup, but subconsciously, you don't realize it but it's |
| 417 | 00:56:24,629 --> 00:56:33,179 | manifesting underneath the surface and your psychology of how you're interpreting how that price is going to likely deliver, you're going to tap into |
| 418 | 00:56:33,179 --> 00:56:42,599 | that negative recording in your journal that you spiced up with negative reinforcements, trash market conditions, which means what this is probably gonna |
| 419 | 00:56:42,599 --> 00:56:49,289 | be scary. So subconsciously, you see the setup yet, but subconsciously, you're thinking, and I'm crying, I'm probably gonna lose on this. This is probably |
| 420 | 00:56:49,289 --> 00:56:56,219 | really low probability, but you're going to try to wrestle with it, which means what now you're in a trade or about the ticket trade. And you're in a divided |
| 421 | 00:56:56,219 --> 00:57:06,329 | mind, you see a signal, you want to take the trade, but you've poisoned tainted your subconscious. So now you have fear, you've invited you engineered fear in |
| 422 | 00:57:06,329 --> 00:57:13,649 | your next trade because you recorded something in your journal, or you posted something on social media, you had a conversation with somebody else that's |
| 423 | 00:57:13,649 --> 00:57:20,459 | trading and you said that you are you suck as a trader, you're not able to get this stuff to work and you can't ever get it and it's always failing on you |
| 424 | 00:57:20,459 --> 00:57:27,059 | blah, blah, blah, you're reinforcing subconsciously that you're a loser. What do you think's gonna happen when you start pushing the button that's going to |
| 425 | 00:57:27,059 --> 00:57:33,719 | manifest itself in your actions. Just look at YouTubers out there that are toxic, they're doing it to themselves, trying to make themselves look better |
| 426 | 00:57:33,719 --> 00:57:38,999 | than me and they're blowing their ass out right in front of everything and killing their entire brand. And I'm doing sitting back watching them do it. |
| 427 | 00:57:39,059 --> 00:57:47,789 | They're doing it to themselves, just like you're going to do it to yourself. If you do these things, you have to coach yourself, you have to cheerlead yourself. |
| 428 | 00:57:47,909 --> 00:57:56,609 | You have to pamper yourself in that journal, that journal is your love letter to yourself. That's the encouragement, that's the letter to your future self. These |
| 429 | 00:57:56,609 --> 00:58:05,099 | are the things that I've thought about for you. I'm planning all these things for you, your future self, you're writing all that to that person that you're |
| 430 | 00:58:05,099 --> 00:58:13,529 | developing into, but are you feeding that person positivity? Are you choking it and strangling it with negativity? It's really important. And you might think |
| 431 | 00:58:13,529 --> 00:58:21,089 | that, oh, it's not that big of a deal. Journaling is for the weak ones. I don't need a journal, I just go in here and take my trades and I got a model. I got |
| 432 | 00:58:21,119 --> 00:58:26,309 | age and I got time to mess around with that journal stuff. I'm going to tell you, that's a person that making money consistently. I'm gonna tell you, that's |
| 433 | 00:58:26,309 --> 00:58:33,149 | a person, it's going to be an emotional basket case while they're trading. There'll be highly emotional. Like, if you listen to me talking, like, there's |
| 434 | 00:58:33,149 --> 00:58:41,279 | no difference between that and me reading a book about fishing, and I'm not a fisher. like it'd be the same thing. It's that's guys putting me to sleep, man. |
| 435 | 00:58:41,459 --> 00:58:47,519 | The hell's going on? That's what it's like, when you know what you're doing. That's what it's like, and you want it to be that way. You don't want me on |
| 436 | 00:58:47,519 --> 00:58:56,159 | site. Lights and rave shit and music pumping around. Yeah, and now it's emotional stimuli. No, no, no, no, when you're learning it needs to be boring. |
| 437 | 00:58:56,159 --> 00:59:03,779 | Now, when you get good, you know your model, you want to play some blasting music that gets you all fired up. You know, the Ride of the Valkyries? If that's |
| 438 | 00:59:03,779 --> 00:59:10,709 | your thing, right? Whatever it is, that gets your juices flowing when you know, which you're looking for. And the models, they're in the charts. And you know, |
| 439 | 00:59:10,709 --> 00:59:21,779 | you're in the right day and everything's lined up. Sure. Yeah, man. Like I not my speakers are blaring, like, it's my upstairs is pulsating. I have a lot of |
| 440 | 00:59:21,809 --> 00:59:28,769 | sound coming out of that. But hey, you know, that's my thing. But I'm not telling you as a developing student to do that, while you're studying. It does. |
| 441 | 00:59:28,799 --> 00:59:36,389 | It's kind of it's counterproductive. You want to bring yourself to a level of anticipation, knowing that these things are likely to form when they're likely |
| 442 | 00:59:36,389 --> 00:59:45,209 | to form and how they're likely to form in a boring condition. Because you're you're not presenting any invitation for emotional stimuli, which will be |
| 443 | 00:59:45,209 --> 00:59:46,799 | distracting in your early development. |
| 444 | 00:59:46,860 --> 00:59:54,600 | You want to see every boring detail. This is what this chart should be doing. This is what this candle should do. It should not do these things. It shouldn't |
| 445 | 00:59:54,600 --> 01:00:02,790 | be allowed to do that. But not do this. Okay. And you're learning all that and I can't write a book. Okay. I can't write a book that's going to say these and |
| 446 | 01:00:02,790 --> 01:00:10,860 | work these things in words, and it make any sense to you. That's why when I mentor, I was doing live sessions, and I was reading price to them, just like |
| 447 | 01:00:10,860 --> 01:00:17,190 | you're watching me. And I'm sure there was people today watching me do that. And so this guy didn't push a button. He didn't enter a trade, he's talking all this |
| 448 | 01:00:17,190 --> 01:00:25,290 | stuff. And the market moved in, he didn't do anything I was teaching, I was teaching people how to submit themselves to price delivery, and also talked |
| 449 | 01:00:25,290 --> 01:00:32,340 | about how, when you're in a move, I guarantee these people that are very critical, they're probably getting in there and getting three handles or getting |
| 450 | 01:00:32,340 --> 01:00:41,100 | six pips in a box move, packing the entire time, not realizing the all the other move, that's still in the in the price action, because they're emotional. |
| 451 | 01:00:41,160 --> 01:00:48,690 | They're making everything a competition with themselves and everyone else, and everybody that's highly competitive. They're shitting themselves on so on social |
| 452 | 01:00:48,690 --> 01:00:55,980 | media, there's look around, none of them can carry themselves forward, consistently. They're all wrecking themselves, because they're trying to do |
| 453 | 01:00:55,980 --> 01:01:02,460 | something this industry is not meant to do compete. That's not what this is for. Look at that Robbins cup, people are up on the leaderboard, they're falling off |
| 454 | 01:01:02,460 --> 01:01:09,570 | the leaderboard getting real high and then falling off. It's a wonderful psychological experiment to watch how these people really push the envelope. And |
| 455 | 01:01:09,570 --> 01:01:16,350 | some of them are clearly gambling. And I don't want you to have that mentality. But what do you think would happen? This is play devil's advocate for a moment. |
| 456 | 01:01:16,350 --> 01:01:24,810 | Okay, what do you think would happen if you got that position in your learning that plateau of now you're your board, you know, what it's going to do you know |
| 457 | 01:01:24,810 --> 01:01:31,500 | how it's going to deliver, you've got to wait around for it to happen. And then when it presents itself, push the button and does what you thought was going to |
| 458 | 01:01:31,500 --> 01:01:40,170 | do. And the results were expected and it was delivered. So what do you think happens when you start applying gaming theory and money management to something |
| 459 | 01:01:40,170 --> 01:01:48,360 | like that when you're no longer emotionally stimulated, or stimulated by the result, but you're now pushing the envelope with high precision, high strike |
| 460 | 01:01:48,360 --> 01:01:58,980 | rate, high accuracy, and now you have optimal f applied to your risk management, you start seeing extrapolated increases in your equity, and you still don't have |
| 461 | 01:01:59,040 --> 01:02:06,660 | the emotions, you don't have the fear, you don't have any of that stuff. And when you place that against something other than what's normal in this industry, |
| 462 | 01:02:06,720 --> 01:02:16,020 | it rips it to shreds, nothing comes close to that it's breakneck velocity in terms of the equity increases, and contests are not even a contest. It's a |
| 463 | 01:02:16,020 --> 01:02:23,370 | clinic, here's what you'll never be like, Here's what you'll never be able to obtain doing the Mickey Mouse shit you use. But you can't jump into that you |
| 464 | 01:02:23,370 --> 01:02:30,570 | can't just jump into that league, there's a lot of things you have to do to prepare yourself, you have to completely desensitize yourself to the ebb and |
| 465 | 01:02:30,570 --> 01:02:37,650 | flow of your equity going up and down in a trade. And I talked about that today, when we were live streaming, the reason why I've talked to you in these live |
| 466 | 01:02:37,650 --> 01:02:45,090 | streams the way I do and in these Twitter spaces, because I want you to remember these discussions. Because when you're in a live trade, and some of you probably |
| 467 | 01:02:45,090 --> 01:02:52,920 | have never been in a really profitable, winning live trade with real money when it happens. And if you're not sitting with a trade that has a limit order where |
| 468 | 01:02:52,920 --> 01:02:58,740 | you know where it's gonna go, you just you got in, you don't know what it's going to do, he was just giving it a chance to start moving on, and it explodes |
| 469 | 01:02:58,740 --> 01:03:06,360 | in your favor at a blind luck. I say that facetiously, obviously, because if you're using what I'm teaching, it won't be blind luck, but it'll explode in |
| 470 | 01:03:06,360 --> 01:03:13,980 | your favor. And then you have this problem. It's running profits building constantly, and you're looking at it like a deer in headlights, you can't move, |
| 471 | 01:03:14,010 --> 01:03:22,680 | you're you're paralyzed, and you're watching the candle expand bigger and bigger and bigger in the profits growing faster and faster and faster. And you don't |
| 472 | 01:03:22,680 --> 01:03:27,930 | want to touch the stop loss. But you don't want to close the trade. But you're thinking I should close the trade because I'm making so much money. What happens |
| 473 | 01:03:27,930 --> 01:03:35,190 | if it reverses and it still keeps climbing, it still keeps building up, and you're all hopped up, and it feels like panic. That's one of the hardest |
| 474 | 01:03:35,400 --> 01:03:43,440 | positions to be in as a trader that's new, because everything you do is going to be wrong. If you get out right now, and it rips even more, you're wrong. If you |
| 475 | 01:03:43,440 --> 01:03:51,630 | don't get out and it retraces or reverses, you're wrong. If you stay in that position with no limit target placed and you don't trail your stop loss, the |
| 476 | 01:03:51,630 --> 01:03:58,860 | luck and something's wrong. And that's what's happening 100 mile an hour in your mind, all these things are zooming through and you can't focus on any one thing. |
| 477 | 01:03:58,950 --> 01:04:06,060 | All of a sudden you have attention deficit disorder. You didn't have it before, but you haven't now, buddy, and it's a weird feeling when when you encounter |
| 478 | 01:04:06,060 --> 01:04:13,590 | that it's like the hell do I do what I do. And if your spouse is in the room, they start talking to you shut up. Don't talk to me right now. Look, don't you |
| 479 | 01:04:13,590 --> 01:04:21,030 | understand how hard this is? I told you, I gotta be focusing now minutes ago, you're reading the fucking comic books, eating potato chips, clipping your |
| 480 | 01:04:21,030 --> 01:04:28,020 | fucking toenails. But now because you're in this position where everything's flying at lightspeed, you're not losing money, you're making money, you have no |
| 481 | 01:04:28,020 --> 01:04:36,210 | idea what to do with it. And here's your spouse to say hello to you. And you're tearing their fucking face off. Because you're that's one more thing that's |
| 482 | 01:04:36,240 --> 01:04:42,930 | competing for your attention, because you didn't do what you're supposed to do. Have your model outlined, where's your profit targets? Where's your partials? |
| 483 | 01:04:42,990 --> 01:04:49,260 | You have to be prepared for those types of things. And it's going to happen you're going to just get in there one day and just see it looks like it might |
| 484 | 01:04:49,260 --> 01:04:56,970 | move and we put it in here and not put your limit order in. Not put a partial in. This is see what happens in boom, NASA rocket takes off, boom, it's off off |
| 485 | 01:04:56,970 --> 01:05:01,830 | to the races. And then when it happens, you don't know what you're doing. You're not supposed to The one thing that you won't know what you're supposed to be |
| 486 | 01:05:01,830 --> 01:05:08,250 | doing, because it'll be moving too fast, and I guarantee you, whatever you do that moment, you're going to regret it later on, I wish I would have got out |
| 487 | 01:05:08,250 --> 01:05:14,100 | sooner I wish I would have held on to it longer wish I would have moved my stop loss up more. I wish it just would have just sat still. And you're gonna be |
| 488 | 01:05:14,100 --> 01:05:23,190 | flipping through all those decisions. So fast, so fast, and you're going to be panicked. And I'm holding these discussions with you. Because I want you to |
| 489 | 01:05:23,190 --> 01:05:29,400 | remember these things. When you're watching price. Using the things I'm teaching, you're not going to be surprised you're not going to have these. |
| 490 | 01:05:29,940 --> 01:05:37,170 | Where'd that come from? Why didn't happen? Why did that happen? Let me go on Twitter, ask everybody else. Dude, what just happened? You don't ever hear me |
| 491 | 01:05:37,170 --> 01:05:43,350 | saying that my students don't ever hear me saying it in any of the mentoring I've ever done over live streaming when I was mentoring behind the paywall. They |
| 492 | 01:05:43,350 --> 01:05:53,370 | never were like, Whoa, where we were anticipating. That's a different mindset. That's the truth. When you're here with us, we're training you to be a soldier |
| 493 | 01:05:53,400 --> 01:06:03,030 | that's war hardened. We know what we're walking into. We know bodies are going to be stacking up and we're doing the stacking. We know that someone's losing |
| 494 | 01:06:03,030 --> 01:06:11,220 | their ass, and it's on the other side of our trade. We know our setup is coming. What time of the day it's coming. We know how it's going to form. We're waiting |
| 495 | 01:06:11,220 --> 01:06:19,920 | to ambush it. We know how to stock our price. We are not ambushed. We are not taken by surprise. We're not caught in a snare. We know exactly where we're |
| 496 | 01:06:19,920 --> 01:06:28,620 | placing our next step. We know the terrain. We've been here before it's well mapped out. That's confidence. And to someone that's new. That's never been |
| 497 | 01:06:28,620 --> 01:06:36,120 | around us before. It sounds like fucking and arrogance. And guess what, if you want to call it arrogance, fine, I'll own that. It's just me being around the |
| 498 | 01:06:36,120 --> 01:06:43,980 | block enough times Now I know my way around, and my students do too. It doesn't make us pieces of shit doesn't make us bad people. It just means that we know |
| 499 | 01:06:43,980 --> 01:06:52,710 | our shit. We know what we're doing. And he's funded accounts and these companies they're finding out there find out we are built differently here. This is the |
| 500 | 01:06:52,710 --> 01:07:01,470 | monster lab. Okay, this is monsters Incorporated. You come in here, you spent enough time you're coming out a savage claws, fangs, everything and you're going |
| 501 | 01:07:01,470 --> 01:07:10,230 | for your pound of flesh. And dammit, you're going home with that pound of flesh. When you have these opportunities to sit down and watch live price action with |
| 502 | 01:07:10,230 --> 01:07:18,060 | me. I want you to feel what it was like before you had these experiences where you were looking at the price action and just felt like, what am I supposed to |
| 503 | 01:07:18,060 --> 01:07:25,860 | do with all this? I'm tickled Honestly, when I read comments after the live stream, it's like Dude, what the hell like it did everything you said I was |
| 504 | 01:07:25,860 --> 01:07:34,170 | gonna do it right. And I don't feel that way. But I'm amused when I see new students or people that never spend time with us their reaction to that I love |
| 505 | 01:07:34,170 --> 01:07:43,170 | that I take the Twitter's or tweets rather, and I share my son's I'll say, Look at this. This is someone now right now I have my hooks in them. They're never |
| 506 | 01:07:43,200 --> 01:07:49,710 | ever, ever going to forget this. In that moment. They're going to hold on to that and they're gonna, they're gonna want to do it themselves. They're going to |
| 507 | 01:07:49,710 --> 01:07:57,690 | do whatever it is they learn how to do that themselves, because they see it as a superpower. And it is we're fucking mutants here, man. We're not like the |
| 508 | 01:07:57,690 --> 01:08:06,090 | average traders. We look at things with precision perspective, discipline, we know what we're waiting, we're not distracted. We're not taken by surprise. |
| 509 | 01:08:06,330 --> 01:08:12,390 | We're not looking at stupid shit that has nothing to do what makes price go up and down. We're not worrying about fundamentals, because fundamentally, |
| 510 | 01:08:12,390 --> 01:08:20,100 | everything's in the technicals period. Like, what else do you want? What else do you need? Think about it when you first started trading or got interested in |
| 511 | 01:08:20,100 --> 01:08:28,410 | trading everything that you put your hands on, you know that this stuff that you were looking at? Just didn't make any damn sense? Yeah, I see what you're saying |
| 512 | 01:08:28,410 --> 01:08:35,910 | with these lines and stuff doing this and doing that. But how do you know what's going to go there? Well, we really don't know. You just got to, you know if it's |
| 513 | 01:08:35,910 --> 01:08:42,810 | wrong. No, no, no, no, no, no, no, no, I know what I'm looking to eat. It's fucking filet mignon, I'm pulling it off. If somebody's asked in this market, |
| 514 | 01:08:42,870 --> 01:08:50,370 | they're going to lose to me, I know that going in every day, I know how to find that next victim in the marketplace. I know that and you're being trained to do |
| 515 | 01:08:50,370 --> 01:08:59,340 | that, too. And when you see everything else next to what it is that we do, nothing compares to it. It gives you confidence, it gives you clarity, you know |
| 516 | 01:08:59,340 --> 01:09:07,740 | what you're looking for? Think about it, you know exactly what you're looking for. It's going to run up to that liquidity or it's going to run up into what |
| 517 | 01:09:07,800 --> 01:09:12,300 | inefficiency? How do you know if it's gonna go to buy side or inefficiency, Michael, |
| 518 | 01:09:12,330 --> 01:09:19,830 | how do you how do you do that? Like, how do you know that the mall has it ran up above by side recently, and then broke down, but has yet to take our sell side |
| 519 | 01:09:19,920 --> 01:09:27,090 | into a discount, then it's probably gonna go up into an efficient inefficiency, a premium and not run that high that's already ran the stops. That's how I trust |
| 520 | 01:09:27,090 --> 01:09:34,050 | it. They've already went into liquidity. Now they're just taking it into a premium to rebalance an inefficiency and then send it to the sell side and then |
| 521 | 01:09:34,050 --> 01:09:41,100 | reverse the other way. If you're bullish. It's going down for inefficiency. Or it's going down for sell side. It's going up for inefficiency, or it's going up |
| 522 | 01:09:41,100 --> 01:09:49,020 | for buy side if it ain't doing that. It's consolidation. Think about it, folks. You got three choices up, down or sideways. If it's sideways, well, the calendar |
| 523 | 01:09:49,020 --> 01:09:56,970 | is gonna tell you when it's going to happen. When do we expect consolidations to talk to you that so if it's not around those times, then we anticipate expansion |
| 524 | 01:09:57,000 --> 01:10:05,580 | which side of the market we want to expand on which side is like fleet to be traded to because it's been taken into cell side or by side Mark is going to |
| 525 | 01:10:05,580 --> 01:10:11,760 | move to the opposite range. Why to smart man is going to want to do all set distribution. If they're short, because they thicken by side, it's going to go |
| 526 | 01:10:11,760 --> 01:10:18,510 | down to a discount to inefficiency or sell side, reverse it. See, it sounds complicated because you haven't been spending enough time with us. That's all |
| 527 | 01:10:18,570 --> 01:10:25,140 | you haven't been watching price action, you haven't been seeing me outline it real time telling you what it's going to do, why it's going to do what it isn't |
| 528 | 01:10:25,140 --> 01:10:32,910 | going to do when it's supposed to do it. When you spend time in that environment, live have a real time data with me, it's easily to convince you |
| 529 | 01:10:32,910 --> 01:10:39,390 | there, but you're still gonna, at the end of the day, walk away from the live stream thinking, wow, that was amazing sorcery. That was a magic trick. He's |
| 530 | 01:10:39,390 --> 01:10:46,530 | doing something he can't, nobody can do this. And then you start thinking about how you can't do that yet. You're impressed. You don't know quite how he did it. |
| 531 | 01:10:46,560 --> 01:10:53,520 | But you go right back to thinking, let me turn it against myself. Can I do that right now, which is unrealistic, but then you start feeling bad like, this is |
| 532 | 01:10:53,520 --> 01:10:59,760 | really, this is really complicated. I want to see that. In my own trading. I want to be able to do what Michael and his students are doing. But I can't do it |
| 533 | 01:10:59,760 --> 01:11:07,560 | right now. But I've watched six videos, I've been watching, I've been watching these videos I've been watching for the last three weeks. And I put some things |
| 534 | 01:11:07,560 --> 01:11:15,630 | down on a notepad on I don't know where the notepad really is. I spilled coffee on it. And you know, pretty expect from me organization, yes, diligence, |
| 535 | 01:11:15,660 --> 01:11:21,720 | consistently showing up and taking it like a business. If you're just going to be willy nilly with it, then that's what you're gonna get out of it. You're |
| 536 | 01:11:21,720 --> 01:11:30,150 | gonna get what you put into this. If you treat it like you're learning, the highest form of financial warfare, you're going to handle yourself differently. |
| 537 | 01:11:30,180 --> 01:11:38,640 | If you're thinking this is like the lottery, and it's scratch offs. Oh, of course, you're gonna get instagram results, time of day and the signatures in |
| 538 | 01:11:38,640 --> 01:11:47,790 | the am session in the am system run, they're going to be different than that of the pm session. And the benefit of knowing what that opening range gap is if |
| 539 | 01:11:47,790 --> 01:11:55,620 | there is one, if we don't fill the gap in the morning session, we're going to expand till we get to a higher timeframe. pdra Once we hit that typically in the |
| 540 | 01:11:55,620 --> 01:12:05,640 | lunch hour, then during the lunch hour, we have some measure of retracement to morning session stops. Now it can be exaggerated past that if we have not filled |
| 541 | 01:12:05,640 --> 01:12:14,700 | in that opening range gap, which is what we saw today. What do you think would happen if we saw this morning open trade down closing the opening range gap then |
| 542 | 01:12:14,700 --> 01:12:23,400 | rally up going into the lunch hour? Any retracement lower on sell side would be what? Just to use the go higher in the afternoon because the unfinished business |
| 543 | 01:12:23,430 --> 01:12:32,010 | of the opening range gap had already been taken care of in the morning session. Sounds like narrative. Yes, things are expected. If they don't deliver. That |
| 544 | 01:12:32,010 --> 01:12:40,920 | means some it tells us how we are to anticipate the next session, the morning session after FOMC for the morning session after a large range day, we are |
| 545 | 01:12:40,920 --> 01:12:50,190 | willing to simply let it do what it wants to do. We're using it for Intel. We're out there collecting Intel, we're not engaging. We're on a clandestine mission. |
| 546 | 01:12:50,220 --> 01:12:57,000 | But we're out there just observe and how many victims? Are we going to stack up in the pm session? Where are we going to stack the bodies? That's where |
| 547 | 01:12:57,000 --> 01:13:05,130 | liquidity in the cell so they knew we could be in gaps below the marketplace. The discount fair value gaps are mapping out all the terrain where the centuries |
| 548 | 01:13:05,130 --> 01:13:13,860 | are where the guards are, where's the strongholds. And then when the time comes, and we get into that two o'clock hour, we release the hounds of hell, and it's |
| 549 | 01:13:13,860 --> 01:13:22,380 | war, and then you watch price unfold like you've outlined it, which is what you asked me do today. It's amazing when you finally get to the point that you can |
| 550 | 01:13:22,380 --> 01:13:29,010 | do these things yourself. But all of the interviews I'm doing and I have lots more of them. Got another one I'm recording tomorrow, but it probably won't be |
| 551 | 01:13:29,010 --> 01:13:38,040 | up until Monday. Why not? Why not? I see want to space them out a little bit. Sounds like gum, I'm filling my channel, which is that I gotta put some teaching |
| 552 | 01:13:38,040 --> 01:13:47,460 | videos in between them. But when you have this epiphany, this moment of clarity where you know, you know what it is that I'm training you to observe when you |
| 553 | 01:13:47,460 --> 01:13:56,130 | finally get to that point where it makes perfect sense. And you know exactly what you're looking for in price action without me having to say so I cannot |
| 554 | 01:13:56,190 --> 01:14:07,470 | find words to fully articulate the level of fucking power and confidence that it gives you. And I'm sorry, I know some of you like the language. Listen, listen, |
| 555 | 01:14:07,470 --> 01:14:15,750 | man, ma'am. We're talking about life changing shit here. You can play Sunday school. Once you learn how to do it. You want to carry yourself differently. |
| 556 | 01:14:15,900 --> 01:14:24,930 | Sometimes I can't carry myself 100% stable, I go off the rails. I'm fighting very hard to stay on right now. But when I feel what it felt like for me, and I |
| 557 | 01:14:24,930 --> 01:14:33,120 | know it's going to have the same impact on you probably even worse, not motorists in a bad way. But more more impactful because you didn't go through |
| 558 | 01:14:33,120 --> 01:14:40,650 | six years of it. Some of you are just coming here. And in this short span of time you're already learning things that you were not aware it was even |
| 559 | 01:14:40,650 --> 01:14:47,760 | possible. I guarantee you if I did a poll, and you were being honest not to try to fluffed me because I don't want any of you doing that. But if I was asked how |
| 560 | 01:14:47,760 --> 01:14:56,820 | many of you are astonished to see that it is possible for someone to be able to call every minor fluctuation in the marketplace with that level of degree of |
| 561 | 01:14:56,820 --> 01:15:03,690 | precision. It was unfathomable and beginning before you found me ain't anything like the things I'm teaching, you didn't think that was possible. I know I |
| 562 | 01:15:03,690 --> 01:15:10,440 | didn't, I just felt that there was people out there that would get more luckier than I was getting luckier on the few winning trades I had as a new student in |
| 563 | 01:15:10,440 --> 01:15:18,420 | the 20s. When I when I was in my 20s, rather. And it's weird when you think about all of the things that you wrestle with, in the beginning? Well, I will I |
| 564 | 01:15:18,420 --> 01:15:24,630 | be able to do this, how long will it take me? Everybody wants to ask the person that's teaching them? How long do you think it's going to take? Before I start |
| 565 | 01:15:24,630 --> 01:15:30,600 | making money? Well, if that's the first question you're worrying about, it's going to be a lot longer than you want to, because you're making about the |
| 566 | 01:15:30,600 --> 01:15:38,640 | money, when if you just simply say, I want to get good at reading price action, and I want to be desensitized to where I believe it's going to go and I'm |
| 567 | 01:15:38,640 --> 01:15:44,790 | submitting to whatever it does, that's a person is gonna make a lot of fucking money, that's a person that's going to be so consistent, and they're not going |
| 568 | 01:15:44,790 --> 01:15:51,030 | to be swayed by any little fluctuation in the marketplace that might scare everyone else. I mentioned it today. Like I said, Look at this big green candle |
| 569 | 01:15:51,030 --> 01:15:57,060 | here, something you're like, Oh, I'm getting nervous, it's gonna reverse and that's gonna go lower, it's gonna go lower it did. And that's what it's like, |
| 570 | 01:15:57,090 --> 01:16:04,260 | when you have experience, you want to see these up close candles, when the markets going lower, because you want to see price repel away from it, that's a |
| 571 | 01:16:04,260 --> 01:16:11,040 | bearish order block, you want to see the middle of that up, close candle hold price down. That's the mean threshold. And when you start seeing it go up into |
| 572 | 01:16:11,040 --> 01:16:20,430 | that level, and just fail to go any higher. It's like this invisible force field where it will not let it go past it, Iron Dome, baby, nothing gets through this, |
| 573 | 01:16:20,490 --> 01:16:27,840 | it stops right here. When you see that, when you're watching that in price action, that's immediate feedback that your own side, that means you're right, |
| 574 | 01:16:27,900 --> 01:16:35,970 | that means you're right in your direction. So stay with the ID. But if you start seeing premium arrays when you're bearish and three of them fail, bearish order |
| 575 | 01:16:35,970 --> 01:16:44,430 | block mean threshold breaks, they trades above a short term high or buy side is and then goes through a fair value gap above that, you probably reverse and you |
| 576 | 01:16:44,430 --> 01:16:51,630 | missed it. So you know you got to make the decision to abort it right there. Or do you wait for a small little retracement in your favor and get out? That's |
| 577 | 01:16:51,630 --> 01:16:59,670 | experience in the beginning. As soon as you see three fail, kill aboard don't even waste any time I walked you through how the dollar index went up into three |
| 578 | 01:16:59,670 --> 01:17:05,940 | premium arrays. I outline as I talked about it before it happened. So I was taking your attention there. I told you go into your own chart. And I felt sorry |
| 579 | 01:17:05,940 --> 01:17:12,870 | for some of you because I know you're new. And I wanted to try and show you where that was, but also outlined how we were going lower, lower, and then |
| 580 | 01:17:12,870 --> 01:17:22,110 | another low in ES but almost getting to that new week opening gap low at the same time it went into three premium arrays on the dollar index time of day, |
| 581 | 01:17:22,290 --> 01:17:30,630 | we're going in that three o'clock hour. Well, you saw that shoots up not surprised why? Because it's doing something that's symmetrical Dollar Index went |
| 582 | 01:17:30,660 --> 01:17:40,680 | up into three premium arrays. Es went down into the new week opening gap, pi new week opening gap consequent encouragement and we're in a lower quadrant of that |
| 583 | 01:17:40,680 --> 01:17:48,630 | new week opening gap at the same time dollar has dug into its buyside liquidity, it went through that volume, I'm sorry, liquidity void where there's an actual |
| 584 | 01:17:48,630 --> 01:17:57,480 | gap yesterday evening, and it started trading again. And the buyside liquidity at the 45 level or something that point 451 or 245. |
| 585 | 01:17:58,830 --> 01:18:06,630 | It went through both, both all three of them rather. And now we went to what time time. So things are going to happen around certain times of the day. So |
| 586 | 01:18:06,630 --> 01:18:15,060 | you're constantly balancing what you're reading, interpret, interpreting from price delivery, and other markets that are important. So if the dollar is going |
| 587 | 01:18:15,060 --> 01:18:24,480 | up, that's what that's a risk off. It's going up to what into liquidity three premium arrays was was traded into. And then we did that at a time of day where |
| 588 | 01:18:24,480 --> 01:18:33,450 | it can do what price in the daily range extreme higher low, what's it been doing since the afternoon, trading lower, it went completely down through the opening |
| 589 | 01:18:33,450 --> 01:18:40,890 | range gap. And through it, taking out the love yesterday. Now we're trading at three o'clock final hour trading, we've already made a run below the low |
| 590 | 01:18:40,890 --> 01:18:50,280 | yesterday. So what's it likely to do draw back on those individuals that have been doing what making money, that's what a macro does, it rolls against whoever |
| 591 | 01:18:50,280 --> 01:18:58,470 | has been profitable right now, or it completes a higher timeframe array. So in other words, if the morning session is rolling higher, higher, higher, the macro |
| 592 | 01:18:58,470 --> 01:19:09,630 | will spool send price up into the higher Time Frame array 950 1010 1050 1110. That's it simple. But you don't understand what simple means because you're new |
| 593 | 01:19:09,660 --> 01:19:17,400 | at what we're doing here. So that's the reason why I tell everyone to learn how to do this, you have to give me a year. And then you will see a full calendar |
| 594 | 01:19:17,400 --> 01:19:28,020 | year, you'll see the seasonal impacts that causes these major fluctuations or what I call a quarterly shift where we have major macro changes in the tide of |
| 595 | 01:19:28,020 --> 01:19:35,670 | direction and price action. And then you find what that is and you try to get in sync with that and you mind that you try to work with in that. So in other |
| 596 | 01:19:35,670 --> 01:19:42,210 | words, if we're looking at a quarterly shift, in other words, we're looking at two to three months of price movement on a daily chart and weekly chart to a |
| 597 | 01:19:42,240 --> 01:19:51,270 | higher timeframe array higher or lower. If we identify what we're in, bearish or bullish, you're going to really try to focus in on the weeks that are likely to |
| 598 | 01:19:51,270 --> 01:19:59,670 | expand on that weekly candle in that quarterly shifts direction. So we're going from a higher timeframe to a lower timeframe with the context of the quarterly |
| 599 | 01:19:59,670 --> 01:20:06,480 | shift seasonal tendency, weekly range expansion in the direction of that seasonal tendency, that's when you're gonna do the highest leverage whatever |
| 600 | 01:20:06,480 --> 01:20:13,470 | your maximum leverage is. Those are there's instances where you do that you don't want to do it when, if your analysis on the higher timeframe weekly and |
| 601 | 01:20:13,470 --> 01:20:22,230 | daily saying that we're bearish for the next two to three to three months, we're expecting prices to gravitate lower, okay, you may do your analysis and say, |
| 602 | 01:20:22,230 --> 01:20:30,450 | Okay, well, we've been going down for a little bit. And now this weekly candle could explain expand higher, you don't want to do your your largest leverage or |
| 603 | 01:20:30,450 --> 01:20:38,520 | risk the most that you would normally do as high in leverage in that instance, because you're going against your quarterly shift in the seasonal tendency. So |
| 604 | 01:20:38,550 --> 01:20:47,520 | you're not gambling, you're taking the trade, but you're limiting your exposure to risk based on your higher timeframe, macro analysis, and all these things |
| 605 | 01:20:47,520 --> 01:20:54,690 | come together. And then when you have the market finished its expansion against the quarterly shift, whatever your seasonal tendency is, for the next two to |
| 606 | 01:20:54,690 --> 01:21:02,400 | three months analysis, that's a weekly and daily chart driven, then if you have something that's going to expand on the weekly chart that's in that same |
| 607 | 01:21:02,400 --> 01:21:10,260 | direction, but the higher timeframe monthly and weekly chart, you're now you're in the movement or expectation of that quarterly shift being bearish. Now you're |
| 608 | 01:21:10,260 --> 01:21:16,950 | expecting the next week, when you're doing analysis on Sunday or Saturday before the market opens up, you're expecting that weekly candle to expand lower, what |
| 609 | 01:21:16,950 --> 01:21:25,590 | are you going to do in those instances, you're going to use potentially your largest leverage or do what pyramid when don't When don't you pyramid ICT, when |
| 610 | 01:21:25,590 --> 01:21:34,800 | it goes against the higher timeframe order flow or a quarterly shift that I just do? Simple get in my position, get out be done with it. You don't want to push |
| 611 | 01:21:34,830 --> 01:21:46,650 | violently with your equity trying to increase it when it's going against the macro orderflow. This this two to three month higher timeframe seasonal tendency |
| 612 | 01:21:46,650 --> 01:21:54,000 | that we're trying to discern if you know that you're going against that, why would you risk more? Why would you push your account because you're the chances |
| 613 | 01:21:54,000 --> 01:22:03,330 | of it delivering is what not as high and with low resistance, as it would be if you were in a two to three month higher timeframe bearish market, you're |
| 614 | 01:22:03,330 --> 01:22:11,040 | expecting seasonal tendencies to send that lower and then waiting for the next weekly candle that you are likely to see it expand lower. So therefore you're |
| 615 | 01:22:11,040 --> 01:22:19,710 | trying to go short, everything is framing a idea that you're trying to build a position going short, with everything in your favor going down, then you can do |
| 616 | 01:22:19,710 --> 01:22:27,930 | pyramiding, then you can build your positions larger. And you can hold on to those positions longer and not take partial so quickly or that much off as your |
| 617 | 01:22:27,930 --> 01:22:36,090 | first part. See how there's a graduated understanding that all these things come together. And it's a beautiful tapestry. But you can't learn it all just because |
| 618 | 01:22:36,180 --> 01:22:43,770 | I sit down with you and spend hours, there's a lot of other things that have to be understood. And that's what I mean when I say you can't have these |
| 619 | 01:22:43,830 --> 01:22:52,050 | expectations sitting down like that young man in the parable of the Jade Master. Yes, it's not a true story. But it's I love that story. Because it teaches that |
| 620 | 01:22:52,050 --> 01:22:59,340 | when a student thinks they're ready, and they go to someone that is equipped to teach them, they go there with the expectation that they know how to be taught, |
| 621 | 01:22:59,370 --> 01:23:05,970 | they know how to be trained or taught how to do it. So who's the master there? They're pretending to be the master. But the master knows that this is how |
| 622 | 01:23:05,970 --> 01:23:13,260 | everybody comes to the master. This is how it is you come to the instructor thinking that you know how you're supposed to be taught and trained. No, no, no, |
| 623 | 01:23:13,260 --> 01:23:20,070 | don't do Don't teach me this. This is how I want you to teach me how do you know the benefits of that? If you don't know something? How can you say, teach me |
| 624 | 01:23:20,100 --> 01:23:29,610 | this way makes no sense. That's a person that's not in a position to be trained. They're unteachable at that. And that's what those exercises and those drills |
| 625 | 01:23:29,790 --> 01:23:38,340 | that that trait that Jade master puts that young man through, makes him do chores, talks to him about things that are outside the topic of Jade, I'm doing |
| 626 | 01:23:38,340 --> 01:23:46,740 | the same thing many times in these lectures, because I'm teaching you to do what build discipline, build patience, you're learning everything you are here to |
| 627 | 01:23:46,740 --> 01:23:54,780 | learn. I'm not wasting your time. But I'm also fortifying your understanding. I'm presenting things that you're going to lean on when you start pushing real |
| 628 | 01:23:54,780 --> 01:24:01,530 | buttons. And when you get news, real thick moments of oh, boy, I'm really in it now, what are you going to remember, you're going to remember all these |
| 629 | 01:24:01,530 --> 01:24:07,890 | discussions, my voice is going to pop in your head, and it's going to be like, Oh, shit, that makes sense. Now, he talked about this, this is what I'm supposed |
| 630 | 01:24:07,890 --> 01:24:15,630 | to do. I remember he said, This is what usually happens. So just submit to this idea and see what happened instead of oh, man, what am I supposed to do? Then |
| 631 | 01:24:15,630 --> 01:24:22,530 | the analogy earlier, where you get into a trade, you don't have a top profit target put in and it blows up in your favor, and you don't know what to do. |
| 632 | 01:24:22,590 --> 01:24:30,780 | That's a terrible feeling. It's a good problem to have that don't get me wrong, but it's a terrible feeling. Because you're making money. And you're frozen in |
| 633 | 01:24:30,780 --> 01:24:39,750 | confusion, panic, and bewilderment. Like you don't know what to do, how unfortunate how unfortunate for an individual to end up in that condition. And |
| 634 | 01:24:39,750 --> 01:24:46,950 | yet it happens many times. And those are the same instances that you've done that with your demo account. And you think that that is the invitation for you |
| 635 | 01:24:46,950 --> 01:24:54,180 | to start trading with real money. Maybe it could have been like that with my phone that account. I can just get lucky to pass my combine and I can do these |
| 636 | 01:24:54,180 --> 01:25:01,230 | trades and like get lucky and I'll just withdraw my first $5,000 If I can just get 5000 That's all I'm looking for. Who cares it's worth if I upload a |
| 637 | 01:25:01,230 --> 01:25:08,010 | candidate that I mean, 5000 hours, there's so many of you that think like that, be honest, you probably felt like that before it maybe you don't think that way |
| 638 | 01:25:08,010 --> 01:25:14,460 | now. And if you're really honest, brutally honest with yourself, and me and the community, you would say so and Twitter right now, like, Yeah, that's exactly |
| 639 | 01:25:14,460 --> 01:25:20,670 | what I've contemplated many times, it's worth it for me, it's a couple 100 hours to get in there. If I blow it, who cares, I can just do $100 reset. |
| 640 | 01:25:20,790 --> 01:25:26,790 | I don't know if that's true how that works. But I know it's not a full amount of money to pay for it. And you're thinking, Oh, it's just like a lottery ticket, |
| 641 | 01:25:26,880 --> 01:25:33,870 | whatever the payout is, is worth it. That's a couple $1,000 It's more money that paid to do the challenge and the combine. And that's how you're thinking, you're |
| 642 | 01:25:33,870 --> 01:25:42,090 | really selling yourself short. Like, why waste your time with that, when you can do it the right way, make 6% on that account, build it up over months, and make |
| 643 | 01:25:42,090 --> 01:25:50,580 | 50% in six months of whatever that equity base is, if you're doing 100,000, in six months, build it up a 50,000, do your profit split, boom, there it is, |
| 644 | 01:25:50,580 --> 01:25:57,540 | you're done. You're in business, now you have enough money to do your own and still do that from that account. And you're just talking about one account, not |
| 645 | 01:25:57,540 --> 01:26:07,620 | like the savages I'm creating. We're managing 1.2 1.4 You know, all these crazy ass, you funded account thresholds they're operating in, they know what they're |
| 646 | 01:26:07,620 --> 01:26:14,010 | doing. They know what they're trying to accomplish. They didn't think that way and know what they're doing. And when he first started, you're learning, you're |
| 647 | 01:26:14,010 --> 01:26:22,620 | learning a lot about yourself, you're learning that there is no randomness to these markets. And the truth is, you're probably intimidated by how much you |
| 648 | 01:26:22,620 --> 01:26:31,740 | have learned in such a short period of time, it might be creating a scatterbrain feeling where it's information overload. And that's normal. That's absolutely |
| 649 | 01:26:31,740 --> 01:26:40,230 | normal. And that's exactly what happened with my, my paid students like, I gave them more content than they can technically digest, even though it was over the |
| 650 | 01:26:40,230 --> 01:26:49,290 | course of an entire year, they were getting every day, new content, live streams and eight lessons that you've seen that core content, think about that. And I |
| 651 | 01:26:49,290 --> 01:26:56,700 | was posting charts, static charts for a while in the forum. I don't do that anymore. It was too much. But I told them, that's what it's going to be, and not |
| 652 | 01:26:56,700 --> 01:27:05,280 | to try to cram everything in one year to just relax and let it happen. And every one of my students that are making big money, none of them are coming forward |
| 653 | 01:27:05,280 --> 01:27:14,400 | and saying, Yep, I figured it out. And nine months, 12 months, a year, it took them time, years plural. And I'm honest, I've been telling you all that from the |
| 654 | 01:27:14,400 --> 01:27:24,660 | beginning. Anybody that's made big money, as a trader worth listening to. I'm not talking to people on Twitter, real big fund manager, type level traders, if |
| 655 | 01:27:24,660 --> 01:27:31,620 | you had an opportunity to talk to them, they're all going to tell you, it's going to take you years to really know how to trade, can you be profitable, less |
| 656 | 01:27:31,620 --> 01:27:37,260 | time than that year, but you're not going to know yourself, you're not going to know your model like the back of your hand, you're not going to know what it is |
| 657 | 01:27:37,290 --> 01:27:44,880 | you're doing, you're not going to be me, I know I can walk into any market environment. And I will find a pound of flesh, you don't need to be able to do |
| 658 | 01:27:44,880 --> 01:27:51,540 | that. All you need to be able to do is know when your model is going to materialize in price and be there on time when it's supposed to be here, when |
| 659 | 01:27:51,540 --> 01:27:58,680 | it's done. Close your charts and go about your business. Not I made money. Let me do it again real quick, because it feels good. That's like a drug addict |
| 660 | 01:27:58,680 --> 01:28:06,420 | getting its first hit heroin or cocaine, whatever, whatever the first high is, they say that you always try to chase that high. And you can never get it. |
| 661 | 01:28:06,480 --> 01:28:13,740 | That's what it feels like when you start trading with your model. You know what you're looking for when it happens? And it's like, bang, there it is that power, |
| 662 | 01:28:13,890 --> 01:28:22,800 | that sense of accomplishment, the feeling of dialed in, you feel like you're fucking net worth is $200 million. All of a sudden, you just feel like you're |
| 663 | 01:28:22,800 --> 01:28:31,710 | minted, you're arrived like you know exactly, this is this is exactly what you were meant to feel like your whole life was for this moment. And it feels so |
| 664 | 01:28:31,710 --> 01:28:39,660 | good. It's intoxicating. And soon as you feel it wearing off, which will be minutes, your natural impulses is the I want to go back and do that, again, the |
| 665 | 01:28:39,660 --> 01:28:47,880 | movie already happened. So you had to put the gambler in the backseat and say you don't get to drive, take the keys away and keep the gambler from doing |
| 666 | 01:28:47,880 --> 01:28:56,370 | anything. You're not conversating with them. You're not having any discussions about anything emotional, you did what you did, you felt good about it. Now |
| 667 | 01:28:56,400 --> 01:29:06,810 | close your charts, exercise discipline, forwards responsibility. That's, that is so hard. And I can't write chapters, not just chapter, I can't write a book |
| 668 | 01:29:06,960 --> 01:29:14,700 | entirely about that. And still scratch the surface because it has to be experienced, you have to feel what that's like. Just like it feels different |
| 669 | 01:29:14,700 --> 01:29:24,630 | when you move into life on trading, even if it's a small minut little bit amount of money, your expectations on yourself and the elevated hopes for you surviving |
| 670 | 01:29:24,630 --> 01:29:31,170 | the live trade, let alone making money because when you first think you're gonna get in, it's like, Okay, I'm gonna push this trade, it might work but in your |
| 671 | 01:29:31,170 --> 01:29:38,190 | mind, you're thinking, Oh, shit, this is probably gonna fail. This is gonna fail, man. I gotta do it though. I gotta get it out of the way. Let me just get |
| 672 | 01:29:38,190 --> 01:29:45,390 | in here and do it. You put the trade on and as soon as you push the button, the weight of the world is on your neck. Now mind you, you're trading very, very |
| 673 | 01:29:45,390 --> 01:29:52,980 | small leverage. Probably the smallest but it feels like your hearts gonna stop it feels like you can't breathe like someone's holding you in a bear hug palms |
| 674 | 01:29:52,980 --> 01:30:00,000 | start sweating feel a little bit think now you just want to close the tray but you don't want to close the trade. But you do but really you don't. And you're |
| 675 | 01:30:00,000 --> 01:30:07,740 | hassling with and you just want to get out of it, you're up one, tick three ticks down below the dealing spread up two ticks, three ticks, and you can't |
| 676 | 01:30:07,740 --> 01:30:15,660 | stand it. And please, let me just get out of this trade. I just got to recuperating in, in, just gather my thoughts. That's what it feels like when you |
| 677 | 01:30:15,660 --> 01:30:21,840 | put your first live trade on with real money. That's what it feels like some of you, you're gonna be shocked when you feel that and that's why you have to do it |
| 678 | 01:30:21,870 --> 01:30:31,050 | with very, very little money. And you have to talk to yourself, and you remind yourself, how did I do in the demo? What was I doing? What was I focusing on, |
| 679 | 01:30:31,350 --> 01:30:38,610 | and take your money out of the equation, focus on price, that's the truth. That's the thing that you're supposed to do. But it won't feel like that's what |
| 680 | 01:30:38,610 --> 01:30:45,210 | you're supposed to do, you're gonna be worrying about the money, you're gonna be counting the ticks up and down. And the worst thing you can do is have that |
| 681 | 01:30:45,210 --> 01:30:52,050 | money tab, showing you the profit and loss in your trade that shouldn't even be on your chart, put your trade on, put your limit and all that business on it, |
| 682 | 01:30:52,290 --> 01:30:59,220 | and then toggle that off, then go back to watching price, the orders will be there, they're there to do their job and sit, let it go. You don't have any |
| 683 | 01:30:59,220 --> 01:31:08,280 | control, you can't steer price, you can't make it go there faster, you have to submit to the end, it's like a lifetime, 20 minutes, 30 minutes an hour feels |
| 684 | 01:31:08,280 --> 01:31:17,700 | like a lifetime, it feels like you gave up five of your life. Five your life years in that trade. And as you do more of it, and you trust your model, it |
| 685 | 01:31:17,700 --> 01:31:24,900 | feels like nothing like the livestream today that I did with you. It literally felt like 15 minutes. To me, it doesn't feel like a long time. Not that an hour |
| 686 | 01:31:24,900 --> 01:31:32,280 | or so it was a long time. It's not but it didn't feel like an hour to me, for some of you probably was like you could have made this shorter. But I wouldn't |
| 687 | 01:31:32,280 --> 01:31:38,640 | have been able to teach you everything I taught you in that live stream now. Good. So there's a lot of things that you're going to discover that are true, |
| 688 | 01:31:38,700 --> 01:31:48,180 | true about yourself and true about the markets and true about what it is I'm teaching you and those experiences are going to be uniquely personal to you. And |
| 689 | 01:31:48,180 --> 01:31:56,580 | how you deal with them. How you wrestle with them is all going to be an individual experience, some of it is going to be positive, someone's going to be |
| 690 | 01:31:56,580 --> 01:32:03,750 | negative. And you're going to learn from those things. And I can't write a book, no one else can write a book, How to prepare for it, because everyone's going to |
| 691 | 01:32:03,750 --> 01:32:13,650 | deal with it differently. And you need to expect that adversity excite that new level. But with a new level means there's a new boss the fight, there's a new |
| 692 | 01:32:13,740 --> 01:32:20,850 | devil to wrestle new levels, new devils. And that's what it's like in this industry until you get to the point where you know yourself, you know, your |
| 693 | 01:32:20,850 --> 01:32:27,900 | model, you know, the market, and the conditions that you'd like to operate in. And when those things are not in alignment, that's not an invitation for you to |
| 694 | 01:32:27,900 --> 01:32:34,530 | simply because you have time to turn the charts on and see what happens when you press the button. You don't need to know, after you push the button, what's |
| 695 | 01:32:34,530 --> 01:32:40,110 | going to happen, you know what's going to happen. As soon as you push the button in those conditions where you know, it's not likely for you to be trading that |
| 696 | 01:32:40,350 --> 01:32:48,300 | it's not high probability. But you're bored. So my major man at work, you got to have some kind of distraction. And if you win, even if it's 50 bucks, it's 50 |
| 697 | 01:32:48,300 --> 01:32:54,600 | bucks you didn't have and guess what it feels good to be able to do that because I took something from somebody else. Because right now I'm pissed off right now |
| 698 | 01:32:54,600 --> 01:33:00,510 | I'm having a hard time I'm stressing about some, and I just need to be able to feel good about myself, I've had an accomplishment, let me get out there and |
| 699 | 01:33:00,510 --> 01:33:07,770 | live stream, I'm gonna show the world I'm an awesome trader, and you got thing, you push the button, and you wreck your ass and just compounded all that grief, |
| 700 | 01:33:07,830 --> 01:33:15,120 | and you just brought witnesses into it well done, you played yourself, you know, once you know what you're doing, you know that that outcome is going to be |
| 701 | 01:33:15,120 --> 01:33:21,870 | unfavorable. So you don't do it. You don't trade to see what Fine, see what's gonna happen. You don't push the button to find out what's going to happen. You |
| 702 | 01:33:21,870 --> 01:33:30,780 | don't trade and push a button just to see if you can feel better about yourself. Your trades are not to make yourself better. Your trades are there to make |
| 703 | 01:33:30,960 --> 01:33:40,230 | fucking money. That's it. That's the only reason why you're doing this. It's not the impress Carl, it's not to impress your spouse, it's not to impress your |
| 704 | 01:33:40,260 --> 01:33:48,570 | friends, it's not to make yourself feel like you're accomplished to derivative, you're doing this to make money. If anytime you feel the impulse to push the |
| 705 | 01:33:48,570 --> 01:33:55,620 | button, because you need to feel better about yourself. You want to push the button to distract yourself from something someone said about you on social |
| 706 | 01:33:55,620 --> 01:34:02,760 | media, you feel bored, nothing else to do. Let me just get in here and trade Asia, you don't ever trade Asia never had never even came up in your model. You |
| 707 | 01:34:02,760 --> 01:34:11,160 | know what it like, if I get three handles, it's it's 150 bucks for contract. And I find that count says I can trade this many contracts. Let me just do one |
| 708 | 01:34:11,160 --> 01:34:18,900 | quarter of that and just see how I feel after I win. Well, you're inviting the very thing that you shouldn't be doing, who's going to be there to stop you. I'm |
| 709 | 01:34:18,900 --> 01:34:24,360 | not going to be there. Your broker is not going to say hey, you better not do that. You better not do that right now who's going to do it? Who's going to be |
| 710 | 01:34:24,360 --> 01:34:32,370 | the person that stands in the way and talks to you and remind you that what you're doing is outside your model. It's just you and you don't want to learn |
| 711 | 01:34:32,460 --> 01:34:39,810 | from bad experiences doing impulsive things that you're reckless you don't want to discover that you're reckless by doing those that you want to prevent the |
| 712 | 01:34:39,810 --> 01:34:47,550 | opportunity of discovering that you're reckless in those instances talking to yourself through your journal referring to your journal writing down what you |
| 713 | 01:34:47,550 --> 01:34:56,610 | intend to do that trading day. What what did you say Michael? Write down what I'm planning on doing today? I thought I'll just look for fairway. gasps wood. |
| 714 | 01:34:56,610 --> 01:35:01,440 | Yeah, that's it's part of the anticipatory price. skills that you're learning Yeah. |
| 715 | 01:35:01,499 --> 01:35:11,009 | But it makes you much more accountable. When you write down what you intend to do. I want to take a trade, like on Tuesday, I want to sell short, a fair value |
| 716 | 01:35:11,009 --> 01:35:18,239 | gap after there's displacement lower, and I want to take profit at this level, because there's sell side there, write it out, you should have a notepad where |
| 717 | 01:35:18,239 --> 01:35:25,469 | you are trading, if you're walking around at work at lunch, smoke breaks or whatever, and you're doing everything from your phone, your gambling, you need |
| 718 | 01:35:25,469 --> 01:35:33,329 | to have it written out. What's your plan of attack, just like war, just like football. They have their playbook. everything they're doing is a strategy that |
| 719 | 01:35:33,329 --> 01:35:41,249 | every player on that team understands what that play is. It's like a football. They should about that game. But I know this, they have a playbook. And the |
| 720 | 01:35:41,249 --> 01:35:50,519 | coaches say play this quarterback tells the players we're playing this, the stinky leg run around so and so play. Whatever the hell it is. I don't know. I |
| 721 | 01:35:50,519 --> 01:35:58,589 | couldn't tell you the flea flicker. I think it's something that's real. If it ain't Fuck it. But gameplan is you write it out. If you write it out, chances |
| 722 | 01:35:58,589 --> 01:36:07,439 | are you're going to probably submit to it better than you just staring at the chart impulsively reacting like retail. And if you write it out, you're more |
| 723 | 01:36:07,439 --> 01:36:15,239 | inclined to wait for the setup to form. But I see what happens if I'm watching what others say you write it out, then you wait for it. But I see what if I'm |
| 724 | 01:36:15,239 --> 01:36:23,849 | looking at you write it out, and you wait for it simple next to impossible for someone that's new. But it's simple. That's how you forge discipline. That's how |
| 725 | 01:36:23,849 --> 01:36:31,739 | you forge responsibility. That's how you plan your trade and trade your plan. In the beginning. You need to be diligent about it. But in the beginning, that's |
| 726 | 01:36:31,739 --> 01:36:39,779 | where everybody's reckless. It's like spring break. And everybody brought kegs. Oh, it's time to get drunk. You can't operate like that. Not here. Not here. Not |
| 727 | 01:36:39,779 --> 01:36:47,579 | not not in this industry. You can it's unforgiving. Some of you are going through combine, trying to get these funded account challenges passed. I placed |
| 728 | 01:36:47,609 --> 01:36:54,989 | a lot of emphasis on my son with this one. Like he didn't do any trades today. And I told him I said you can't do anything today. And I let him dabble with the |
| 729 | 01:36:54,989 --> 01:37:01,919 | demo. And I told him I said, Tell me what you think you're trying to do. And then you execute. He got all chopped up today. Okay. And that's fine. I mean, |
| 730 | 01:37:01,919 --> 01:37:09,419 | you have to get to see that. But he wanted to have a win in that combine. We had one day off this week. And atoma said, we're going to take another off today. |
| 731 | 01:37:09,449 --> 01:37:16,019 | Don't be trying to get that $9,000 Right away. You don't need to do it. Just because it says you have to trade five days is mean, do it in five days or less. |
| 732 | 01:37:16,049 --> 01:37:25,709 | That's unrealistic. It's unrealistic for him. So to curb his impulsive desires, like I teach you. I said here, let me reset the paper accounts. You try to do |
| 733 | 01:37:25,739 --> 01:37:33,749 | what you think you would do in that combine right now today, eight trades, every single one of them dusted. Now, it's not because he should be profitable because |
| 734 | 01:37:33,809 --> 01:37:42,989 | he doesn't know what he's doing. And truth be told he's pushing the button. But daddy's telling him do this do that. I'm teaching him that very sort timeframe, |
| 735 | 01:37:43,019 --> 01:37:52,439 | scalping. But he's the one clicking the button. He discovered today what it felt like if he would have done it with that compound that combine he would have lost |
| 736 | 01:37:52,439 --> 01:38:02,279 | his perfect no losing day no losing trade. That's that's what I placed on him. I said, Listen, you don't need to make a lot. It's real easy to make that $9,000. |
| 737 | 01:38:02,339 --> 01:38:09,599 | But you gotta give yourself time. What happens if it takes you two weeks? Does it mean anything that it took you two weeks versus what you thought five days |
| 738 | 01:38:09,629 --> 01:38:16,019 | meant? Like he thought five days you got to do it in five days, because he says you have to train at least five days. So I thought I said, Don't do that. Don't |
| 739 | 01:38:16,019 --> 01:38:23,399 | worry about that. Think about what it's like where you work, because he works at a coffee shop. And if you don't know anything about me, I make my children work. |
| 740 | 01:38:23,579 --> 01:38:32,249 | It's work hardening, I can give them cash, but then I did it with my oldest son. He didn't appreciate it. He just wants more money. He wasted on dumb shit and |
| 741 | 01:38:32,249 --> 01:38:39,089 | says that I need help with something else like my daughter. So I missed that with the two older ones. But the other ones, you know, I'm making them work. And |
| 742 | 01:38:39,089 --> 01:38:49,229 | yeah, they they work jobs that wouldn't be flashy. They're not college degree type white collar jobs. It's your grunt working. You're working in a warehouse. |
| 743 | 01:38:49,229 --> 01:38:58,229 | Caleb, you're doing coffee shit and dealing with people cussing you out in the drive thru window, Cameron, and I want him to feel that and I want him to feel |
| 744 | 01:38:58,229 --> 01:39:05,159 | like I don't want to spend the rest of my life doing this dumbshit not to hate other people and think that they're elite, but I want him to feel like I don't |
| 745 | 01:39:05,159 --> 01:39:17,219 | want to do this. And it's funny. My youngest son, he's in a hurry to work at a fucking Rita's Italian ice. Age a my youngest is very, very immature. Way, way, |
| 746 | 01:39:17,219 --> 01:39:28,589 | way more immature than his ages. So his whole lot working is you know, childlike. But Cameron and Caleb when they see their trades in a demo, like when |
| 747 | 01:39:28,619 --> 01:39:35,699 | I when I'm telling them, Look, this is not when you want to trade and I tell them go into your demo and paper trade and show me what you will done. And you |
| 748 | 01:39:35,699 --> 01:39:41,969 | can just read it on their face. It's like me, I'm glad it didn't happen but you were right. deadening. They don't like that. Like they don't like when dad's |
| 749 | 01:39:41,969 --> 01:39:49,919 | right about it like that. Because what they wanted was what? To go in there impulsively and do it and then look at me and say, See, you didn't want me to do |
| 750 | 01:39:49,919 --> 01:40:00,149 | it, but I did it. And that's what I'm wrestling with with them. Like Cameron is very competitive. Like he's on sports games and like all these combat games and |
| 751 | 01:40:00,149 --> 01:40:09,509 | shit on Xbox Live. And he's a bit of a shit talker. Like he's he's very respectful in real world, but winds up on Xbox Live. And he's up there |
| 752 | 01:40:09,509 --> 01:40:19,259 | screaming, hollering, like he's rowdy, he's really rowdy. So he's a bit of a hurry to get out here and start smacking assholes around on social media. So |
| 753 | 01:40:19,259 --> 01:40:26,819 | he's got to be a menace once I make him formidable, so he's going to be the one that runs around and gets in everybody's ass and stuff and show everybody what |
| 754 | 01:40:26,819 --> 01:40:36,209 | he's doing. He's in a hurry to do that. And I'm trying to wrestle that and wrangle that in him, because it'll undoing he's, he's too motivated for all the |
| 755 | 01:40:36,209 --> 01:40:45,719 | wrong reason. So today was a very sobering experiment for him. I said, I know what you want to do. And I understand why you're trying to do it. And also |
| 756 | 01:40:45,719 --> 01:40:52,559 | understand that the young man and you because you're all hopped up on testosterone, and you're in your, your peak of rebellion. And you want to show |
| 757 | 01:40:52,559 --> 01:41:01,619 | dad that you can whip dads as in what I believe you're going to do and what you think you're going to do with this today, I'm telling you just trust this, do |
| 758 | 01:41:01,619 --> 01:41:11,609 | whatever you would do in that paper trading account, and we'll watch and see what happens. And it was very, very humbling for him today. And it was almost |
| 759 | 01:41:11,609 --> 01:41:20,639 | like, I wouldn't say his spirit was broken. But I would say that it was near heartbreaking for me as his dad, because it was like he wanted so badly to do |
| 760 | 01:41:20,639 --> 01:41:29,519 | say I was able to do even though you thought I couldn't do that. And I had to reserve a lot of the things that would otherwise be coaching. I wanted him to |
| 761 | 01:41:29,519 --> 01:41:38,129 | just experience that because I need him to feel the weight of that. Because unless you feel that you won't be denying yourself that when you trade with your |
| 762 | 01:41:38,129 --> 01:41:45,959 | account, because that feeling of I want to prove some Okay, prove you have self control and don't fucking gamble. How about that? Let's start there. But |
| 763 | 01:41:45,959 --> 01:41:51,839 | unfortunately, nobody thinks that way. I didn't think that way. When I was 20 years old, I thought I gotta prove myself to everybody. I gotta prove, I gotta |
| 764 | 01:41:51,839 --> 01:42:00,869 | constantly prove prove proof. And unfortunately, everybody that ever does that always does them selves in it never works out like that. It's odd. This is like |
| 765 | 01:42:00,899 --> 01:42:10,619 | it's like a self fulfilling prophecy that you want to do something to elevate your perspective that other people have toward you the the outward appearance |
| 766 | 01:42:10,799 --> 01:42:19,589 | that you have it all put together and you're you're at Kitty go. And I'm hoping that I'm going to be able to be successful in wrangling this boys to He's wild. |
| 767 | 01:42:19,649 --> 01:42:27,509 | Like he wants to literally come out here because Dad, I'm going to do this. Like, okay, I understand. But give me a chance to get you there. I want to watch |
| 768 | 01:42:27,509 --> 01:42:35,519 | you do it. Trust me, I want to see all that shit. But let me turn you into that first. And you just literally just started that you can. It doesn't happen that |
| 769 | 01:42:35,519 --> 01:42:44,789 | quick. And today he had a real taste of humble pie today. And it was it was a good thing. But I hope he doesn't beat himself up too badly about it. Because |
| 770 | 01:42:44,789 --> 01:42:52,979 | you know how it is when a young man think about it. You're 18 years old. You think you know everything when you don't know shit. And he's he has an ego. Like |
| 771 | 01:42:52,979 --> 01:43:00,659 | he's really good at everything he does, whether it be you know, the sports that he plays, or the video games he's really good at like, he says he tries to be |
| 772 | 01:43:00,659 --> 01:43:07,949 | the best, which is great. I love that. But dad's dad, and I told him I said today is the day you don't touch the combine. You don't do any of that. You |
| 773 | 01:43:07,949 --> 01:43:17,279 | don't do nothing. You don't do anything outside of paper trading account. But But But nothing. This is what you do. Show me what you do in the first trade. |
| 774 | 01:43:17,279 --> 01:43:25,319 | He's sitting there. He's alright. This is this is what you said it was should do here. I didn't say that today. I'm silent right now. You tell me what you would |
| 775 | 01:43:25,319 --> 01:43:32,429 | do. Because you said you wanted to trade it. You tell me what you were going to do today. You're driving right now, you know the rules. I've told you, where do |
| 776 | 01:43:32,429 --> 01:43:39,689 | you what do you see, I'm not going to talk today, you're going to show me because you said that you figured it out and you know what you're going to do |
| 777 | 01:43:39,689 --> 01:43:48,359 | today you feel confident. show me show me what that equates to. When you push the button, lose, lose, lose. And then I lost. He's like rolling his shoulders. |
| 778 | 01:43:48,359 --> 01:43:55,259 | He's pumping his shoulders. And he's like, like, he's thinking I'm gonna, I'm gonna turn this around, and I'm gonna be able to shove us in dad's face to say, |
| 779 | 01:43:55,409 --> 01:43:55,829 | now. |
| 780 | 01:43:57,180 --> 01:44:04,410 | I could just see it on his face, he wouldn't do that. And I'm sitting back here trying not to show any kind of emotion. I don't want to use spur that type of |
| 781 | 01:44:04,410 --> 01:44:12,720 | shit on and I also don't want to break his spirit. So I'm just letting him do it. And finally, the last one he's like, alright, I couldn't I can't do it the |
| 782 | 01:44:12,720 --> 01:44:19,440 | data. He didn't say I was right. But he wouldn't make eye contact with me. And I tell him I said Son, listen, this is going to happen to you when you're trading |
| 783 | 01:44:19,440 --> 01:44:29,130 | with real and you have to know when not to do this. Everything you showed this morning was outward reasons to want to trade instead of taking the model none of |
| 784 | 01:44:29,130 --> 01:44:38,520 | the times that you push the button was the model at all you were manifesting your desire to prove to dad that you could do it when honestly don't you were |
| 785 | 01:44:38,520 --> 01:44:46,860 | armwrestling me you have to refrain from that. I have students that did that and mentorship and an argue with me. It doesn't work when they were feeding |
| 786 | 01:44:46,860 --> 01:44:56,190 | everything I said in commentary. Look what I'm doing in live streams fade that would you do well fuck now and I had students in the 2016 2017 and 2018 groups |
| 787 | 01:44:56,400 --> 01:45:06,480 | that consistently contrarian ly faded me Everything I said in euro and cable, and then had the audacity to send me emails saying this shit doesn't work. I |
| 788 | 01:45:06,480 --> 01:45:14,130 | guess it doesn't work, I guess I guess you aren't going to be successful when you're holding turned upside down. And some of them I have never been successful |
| 789 | 01:45:14,130 --> 01:45:22,410 | in making them understand what they're doing, then. How do you tell them? Think about that? I'd say you're the mentor, like, how do you tell them in a way that |
| 790 | 01:45:22,410 --> 01:45:29,790 | is not derogatory? Because there was a few times I was like, What the fuck is wrong with you? Like, do you not understand what you're doing is asked |
| 791 | 01:45:29,790 --> 01:45:36,120 | backwards. Like I'm telling you go north, you're running south, twice the speed, I told you to go north, you're running south, and then saying, I'm not getting |
| 792 | 01:45:36,120 --> 01:45:42,660 | where I'm supposed to go. Like, I'm never arriving where you said, I should be worried. How are you going? You're going the wrong direction. You're doing that? |
| 793 | 01:45:42,720 --> 01:45:49,320 | Oh, Cameron had that experience this morning. And it sucks because you have to wrestle with he's walking around here today? Because it's like a chip on his |
| 794 | 01:45:49,320 --> 01:46:00,120 | shoulder. It's his youth. It's his mail, ball and chain pride, pride. You want to show me? Yeah, there's a lot of people that want to show ICT and they're |
| 795 | 01:46:00,120 --> 01:46:08,430 | wreck their ass on live streams. They wrecked their ass and their results. And I didn't even mess with them. They brought on themselves. And my own son tried it |
| 796 | 01:46:08,430 --> 01:46:16,770 | today. And all I'm trying to do is make him prepared. That's all I'm doing. I'm trying to prepare him. But he was adamant. I'm going to do it that I know I can |
| 797 | 01:46:16,770 --> 01:46:23,400 | do it. Son. Today is not a day in the morning session. This is what I'm trying to explain to you. The rules I teach you. He wasn't trying to hear it. He's like |
| 798 | 01:46:23,400 --> 01:46:31,680 | no, Dad, I think I'm good. Okay, but you're not allowed to do that there. You're going to deal with this reset the paper trading account. I put one trade on so |
| 799 | 01:46:31,680 --> 01:46:39,480 | that way, when I walk away my trades in there, he didn't reset it. Because he did that one time already on me. I said, let me see the history. Alright, wait |
| 800 | 01:46:39,480 --> 01:46:46,410 | one second. One second. Let me see the history. You're not gonna trade any heads something that was not when I started the account. Wait, I said, Did you do |
| 801 | 01:46:46,410 --> 01:46:53,430 | something wrong? Yeah, did some stupid shit. I said, Well, that's not what you're supposed to be doing. The whole point is, you got to show me what you're |
| 802 | 01:46:53,430 --> 01:47:01,380 | doing. I can't help you. If you don't show me what you did wrong. Because I want to ask you what you saw there. What did you do wrong? Hiding the the losing |
| 803 | 01:47:01,380 --> 01:47:09,750 | trades or the the examples that you're trying to push the button on hiding that from me is making it impossible for me to help you. But I gotta take you into |
| 804 | 01:47:09,750 --> 01:47:16,740 | that trade and say, What did you do? What did you see? And then I can show you where you did it wrong. But you're trying to put a blinder up, though, I don't |
| 805 | 01:47:16,740 --> 01:47:22,350 | want to look at that. And I don't want to show that that. That's the whole reason why I reset the account, I do one trade. That means that that trade |
| 806 | 01:47:22,350 --> 01:47:29,490 | better fucking be there. When I asked you to show me what you've done. And he tried it one time. It's shame. It's all was I mean, he's not trying to be sneaky |
| 807 | 01:47:29,490 --> 01:47:36,120 | about it. He just, he just got reckless, okay, it's good that you're doing it in a paper trading account like that, but don't hide it. And that's his lesson for |
| 808 | 01:47:36,120 --> 01:47:43,710 | all of you. Like, don't hide from those mistakes, don't beat yourself up about them, which is what he was trying to do. He was trying to teach himself |
| 809 | 01:47:43,800 --> 01:47:52,080 | subconsciously, to hide it, sweep it under the rug, and you have to learn from them. Don't hide from them, embrace them. That's when you want to see yourself |
| 810 | 01:47:52,080 --> 01:47:59,640 | fail in the beginning when it's safe, where there's no money to lose no mental baggage accumulated because of it. But when you start doing stuff like that, |
| 811 | 01:47:59,640 --> 01:48:08,250 | think about a paper trading accounts. And he's hiding it, you know that that's a stupid shit used to do. Everybody's done it? Oh, well, you know, my next My next |
| 812 | 01:48:08,250 --> 01:48:15,270 | time I'll I won't make these dumb decisions. Let me just reset that paper trading account a demo account, and you know, focus on the wins. It's just much |
| 813 | 01:48:15,270 --> 01:48:23,820 | like what happens when people get these stupid trade ideas where they do 50 lots of gold, and they're not really able to trade 50 Lots, they wouldn't have the |
| 814 | 01:48:23,820 --> 01:48:30,870 | leverage to do it anyway. And they're doing 50 Lots entry. Two seconds later, they're buying it again. 50 lots and they're doing again, 50 lots and they have |
| 815 | 01:48:30,870 --> 01:48:41,040 | a series of 12 to 1550 entries were all off by one or two pips. And they show that on social media, they're all 90,000 r plus wins open profit on a demo |
| 816 | 01:48:41,040 --> 01:48:50,490 | account. And then then they think they think that's going to be something for people to say, Whoa, look at that. Wow. To me, when I see stuff like that, like, |
| 817 | 01:48:50,520 --> 01:48:56,940 | what are you trying to communicate? They're like, what made you feel that that was a good thing to put on social media, because that looks like you have no |
| 818 | 01:48:56,940 --> 01:49:04,440 | idea what the hell you're doing. And that number, while it might be large means absolutely nothing means nothing. It's not like you took an account and you |
| 819 | 01:49:04,500 --> 01:49:12,900 | parlayed 2030 trades up and you got that result after many different trades, you're just over leveraging something that you never would do with real money. |
| 820 | 01:49:12,960 --> 01:49:21,510 | And it's all these stupid little games that new traders do because you're trying to entertain yourself instead of saying alright, this is what ICT or whoever |
| 821 | 01:49:21,510 --> 01:49:30,690 | you're learning from says I should be doing and practicing and studying and I should be pressing into that and finding my entertainment and growth in that |
| 822 | 01:49:30,720 --> 01:49:40,260 | result. Not silly shit hiding from the losing trades, pretending they didn't exist only looking at the wins and over leveraging dumb shit to feel like you're |
| 823 | 01:49:40,260 --> 01:49:49,020 | doing something constructive. You're not if you're over leveraging your your your demo your paper trading account, just run up a fake number. What do you do? |
| 824 | 01:49:49,020 --> 01:49:56,400 | Oh, it's stupid. It's dumb, getting in a demo account and practicing your entries getting in there practicing so you can have very, very low drawdown and |
| 825 | 01:49:56,400 --> 01:50:05,730 | then doing lots of sample sets like that. That's constructive. Use of a demo not over leveraging just to see what you can do with it. Because it's not doing |
| 826 | 01:50:05,730 --> 01:50:12,210 | anything for you, you can't spend that money, you're wasting time that you could have been using for entry drills, getting in there waiting for the market to |
| 827 | 01:50:12,210 --> 01:50:19,320 | trade into an order block a fair value gap and trying to nail the middle point consequent encroachment of a fair value gap. That's a skill set, you should be |
| 828 | 01:50:19,320 --> 01:50:25,200 | practicing all the time on all timeframes. If it stopped you out, it goes through the fair value gap, who cares, what you're doing is you're conditioning |
| 829 | 01:50:25,200 --> 01:50:31,350 | yourself to wait and watch for it to trade into it. And then when it does, and it goes up and you're trying to trade into a sell side liquidity or something |
| 830 | 01:50:31,410 --> 01:50:39,180 | discount, know where it's going short, and then you're watching price trade up into that fair value. Go watch with your eyeball, when it hits the midpoint, you |
| 831 | 01:50:39,180 --> 01:50:47,130 | time it right then and there, boom, that's a timing drill. And it's also it completely desensitizes yourself to selling short and up moves. Because there's |
| 832 | 01:50:47,130 --> 01:50:52,710 | a lot of you that are going to be scared of doing that some of you are probably terrified right now. I just don't know if I can do that. Like how do you know |
| 833 | 01:50:52,710 --> 01:51:00,030 | that it won't go to the fair agar? How do you know is because you've done it hundreds of times, you've conditioned yourself to see oh, this is what it looks |
| 834 | 01:51:00,030 --> 01:51:06,240 | like. See, you all want to see the fair value got work. But you don't want to practice when it trades into it. Even with a demo. It's like you're scared to |
| 835 | 01:51:06,240 --> 01:51:14,070 | get the results. Just like my son this morning, I made him do it right in front of me, it probably would have been a lot easier for him. Had he not done it |
| 836 | 01:51:14,070 --> 01:51:22,230 | right in front of me. But because I was watching every losing trade felt like the weight of the world on his shoulders. Now I'm not the kind of dad in this, I |
| 837 | 01:51:22,230 --> 01:51:31,470 | would I would never say I told you. So you don't ask why you listen to your dad, I would never do that. I don't want to do anything. To steer him away from |
| 838 | 01:51:31,470 --> 01:51:40,200 | wanting to do this. I've been wanting all my children to do this. And now to see him want to do it. I want to make sure he does everything, right. And I want to |
| 839 | 01:51:40,200 --> 01:51:48,090 | encourage him, I want to keep him going the right way. And hopefully, I'll be successful in that regard. But, you know, that remains to be seen. But he's |
| 840 | 01:51:48,090 --> 01:51:57,870 | human beings like you and I are doing dumb things and playing stupid games and winning stupid prizes, right. But when you're 18, you're young male and an |
| 841 | 01:51:57,870 --> 01:52:07,290 | athlete. And typically, that's already enough to be an ego tripping maniac. But now you add to it that he's gotten my DNA in him. And he wants to prove his dad |
| 842 | 01:52:07,380 --> 01:52:17,190 | that he's capable. It's just a perfect recipe for him to just blow up. And I don't want him to do that. Like I'm, I'm very, very, very interested in making |
| 843 | 01:52:17,190 --> 01:52:25,800 | sure he does everything right. Because I know once he see done correctly, he can do what he does in his coffee shop in one trade, what he would earn that the |
| 844 | 01:52:25,800 --> 01:52:34,410 | whole entire month that that shit show, he can do that in one trade. I want him to experience that. Because once that happens, the magic really begins because |
| 845 | 01:52:34,410 --> 01:52:42,780 | he'll be like, Oh, hell no, no more video games. No more other dumb shit, I'm going to do this, because then he'll want to take that skill set and show his |
| 846 | 01:52:42,780 --> 01:52:49,260 | friends that, look, this is what I'm able to do. Ain't his friends don't know he's doing any of that right now soccer team players, none of them know anything |
| 847 | 01:52:49,260 --> 01:52:57,840 | about it. They all know me and who I am. But they don't know that he's involved in it yet. And he wants to be able to say this is because he wants to teach |
| 848 | 01:52:57,840 --> 01:53:05,430 | them. That's cool. But I want him to learn properly. And we all know what it's like when we first started doing this stuff. We did everything wrong, we made |
| 849 | 01:53:05,430 --> 01:53:15,420 | excuses for why we did oh, it's harmless. It's only a demo. Who cares, right. But that's how it starts. That's how toxic thinking that's how stupid lazy |
| 850 | 01:53:15,450 --> 01:53:24,000 | wasting time dumb stuff instead of going in there and doing laboratory experiments, timing entries, trying to do entries with the least amount of |
| 851 | 01:53:24,000 --> 01:53:31,530 | drawdown running out the sell side waiting for it when it's so obvious when you still have five handles left. This is another exercise I'd like to do right |
| 852 | 01:53:31,530 --> 01:53:40,620 | before it runs out an old low you are chasing price in this drill, you are doing that. But dropped down into a 15 minute I'm sorry, 15 second chart and wait for |
| 853 | 01:53:40,620 --> 01:53:50,310 | price to run up into a volume imbalance or a premium fair a gap on a 15 second chart right before it goes to a new low to run out like sell side. That is an |
| 854 | 01:53:50,310 --> 01:53:57,600 | exercise I like to do all the time. Like I do that many times. While I'm actually talking to you, you know, on Twitter, like I'm tweeting things, I'm |
| 855 | 01:53:57,600 --> 01:54:06,090 | doing a lot of exercises like that on a five second chart, a 15 second chart and I'm using literally like a 15 minute higher low. It doesn't have to be far away |
| 856 | 01:54:06,090 --> 01:54:13,140 | from wherever price is at and I'm just trying to get like three handles four handles, and and boom, there it is. If it allows that much range there it is. |
| 857 | 01:54:13,440 --> 01:54:21,900 | And I show my solid time like like this is it like literally that's your that's your whole week at this coffee shop right there just like that in literally in |
| 858 | 01:54:22,020 --> 01:54:30,750 | three minutes. That's your whole week dealing with that shit over there and people talking to you like you're, you know, subhuman over a fucking coffee. |
| 859 | 01:54:30,780 --> 01:54:38,310 | These people are ignorant. You should hear some of the stories he talks about. And as much as I want him to be able to say this is my last day Fuck, fuck all |
| 860 | 01:54:38,310 --> 01:54:47,550 | of you. I'm done. I never gonna come back here again. I need him to experience that because it will motivate him to never want to ever do that shit ever again. |
| 861 | 01:54:47,640 --> 01:54:53,880 | That's what it was like for me when I was working all these fucking menial jobs in working for people that I knew just because you went to college you didn't |
| 862 | 01:54:53,970 --> 01:55:00,480 | even smart your dumb ass like you don't even know what you're doing as your own job that you don't even know how to do your job. I know you're And you're the |
| 863 | 01:55:00,480 --> 01:55:07,470 | manager, and you're trying to tell me when I can have off when I can do certain things. Now get the fuck out of here, I'm not going to be submissive to that, |
| 864 | 01:55:07,530 --> 01:55:14,130 | I'm going to change everything. They don't have that he's having it. Now he's learning that, and it's good for him to have. It's good. It builds character. |
| 865 | 01:55:14,190 --> 01:55:23,310 | It's not, oh, you're letting your children do stupid shit. You're so rich, you should be doing that. Now, fuck off. When your kids get older, and they are in a |
| 866 | 01:55:23,310 --> 01:55:31,560 | working age. If you give them all loot, you don't have money. But if you're able to give them money, you're not setting them up for anything for success. You're |
| 867 | 01:55:31,560 --> 01:55:39,900 | giving them money they didn't earn because I've watched this with my older two, they squandered it, they fucking wasted it, they blew it on dumb shit, and then |
| 868 | 01:55:39,900 --> 01:55:47,280 | got into more debt. And then I had to bail them out. Credit card debt couldn't make the car payment. Okay, there you go, boom, there it is. I'm talking about |
| 869 | 01:55:47,280 --> 01:55:55,350 | my my daughter, because she had a car helped by her biological dad, I'm not her biological father. And she got herself in financial trouble. So I ended up |
| 870 | 01:55:55,350 --> 01:56:03,000 | giving her my first Highlander, we drove down, gave it to her, and she has that now, but it was just very stressful. And when you start making a lot of money, |
| 871 | 01:56:03,000 --> 01:56:10,500 | and you have two children, if you end up having kids, or if you have kids, now I have learned the hard way that just giving them money just makes it more |
| 872 | 01:56:10,500 --> 01:56:18,450 | stressful as a parent, because they don't appreciate money, because they didn't earn it, they didn't work for anything that you're an ATM that they'll be able |
| 873 | 01:56:18,450 --> 01:56:25,860 | to do is say, Daddy, and you bail him out. And I don't want to see him fail, obviously. But that part's hard. Having money doesn't really make things easier. |
| 874 | 01:56:26,100 --> 01:56:33,270 | It makes it harder as a parent, especially when your kids know that you have it. And they know that you love them. And you don't want to see him fail, that's |
| 875 | 01:56:33,420 --> 01:56:41,370 | going to be a deciding factor for some of you as traders. So that is an unfolding truth that you don't foresee right now. But you will encounter it if |
| 876 | 01:56:41,370 --> 01:56:47,730 | you have kids. And if you have lots of money that you've made from the markets, guess what, you're going to have that heartstring tugging on you too. You want |
| 877 | 01:56:47,730 --> 01:56:55,050 | to feel like you can remove them from the adversities that working with Carl does, you want to be able to tell them, Go in there and tell them this is your |
| 878 | 01:56:55,050 --> 01:57:02,430 | last day and feel good about it walk out. That's what you want to do as a parent, you want them to, you want to free them from that stuff, empower them |
| 879 | 01:57:02,430 --> 01:57:10,080 | like that, but you aren't empowering them. What you're doing is you're creating, and I didn't see this in the beginning, like I didn't, I didn't I didn't expect |
| 880 | 01:57:10,080 --> 01:57:17,280 | to see this. But someone told me years ago, this is what's going to happen. And it happened. They didn't appreciate it. And they wasted the money. And they're |
| 881 | 01:57:17,280 --> 01:57:24,810 | not any better off because of it. Yeah, they have two vehicles. Yeah, they got out of debt because I'm able to mount but they are not equipped. You know, my |
| 882 | 01:57:24,810 --> 01:57:31,950 | oldest son doesn't want to spend time learning how to do this because he's bent out of shape about his money being tied up with the crypto bullshit, and my |
| 883 | 01:57:31,950 --> 01:57:39,330 | daughter just doesn't want to do it. And it frustrates me. I don't understand why don't you want to do this, they see in Caleb do it. Cameron seen Caleb do |
| 884 | 01:57:39,330 --> 01:57:48,270 | it. So now he's motivated, he wants to do better than him, which is wonderful. I love that. And I know if Cameron does it, that will make my youngest. And |
| 885 | 01:57:48,270 --> 01:57:54,690 | hopefully my two older ones will be like, oh shit, we're older than them. And they're doing better than us. But let us start doing it too. And that's my plan. |
| 886 | 01:57:54,720 --> 01:58:01,800 | So I'm hoping that it's gonna pan out like that. I don't know if it's going to, and they could still be how they are and not doing anything, regardless of how |
| 887 | 01:58:01,800 --> 01:58:11,550 | successful the younger ones get. But I'm literally ensuring that Cameron is successful, I want to see be the monster he wants to be, I'm letting him be that |
| 888 | 01:58:11,640 --> 01:58:19,470 | it's in his personality to do it anyway. I ain't going to stop him. I couldn't stop and because it's who he is. So if that's where he wants to go, and I want |
| 889 | 01:58:19,470 --> 01:58:30,990 | him to be a monster in this, he will be the right version of me when I was 20. I was. That's another discussion. But I believe that Cameron would he's going to |
| 890 | 01:58:30,990 --> 01:58:39,330 | be the one that he's the to point out. That's that's the one Caleb's just steady Eddie, he doesn't want to draw any special attention to himself. Cameron wants |
| 891 | 01:58:39,330 --> 01:58:48,000 | all he wants all to smoke. He wants to all that. Every bit of it. He's got a hit list of who he wants to go after and make look stupid. And whatever I thought I |
| 892 | 01:58:48,000 --> 01:58:54,420 | said, when you start doing that song, just understand that once you put that out there like that, that energy will come right back to you. And then you're going |
| 893 | 01:58:54,420 --> 01:59:01,710 | to be constantly having that kind of shit online. And that's, that's what you want to do your life to spend it doing like that. But here's I don't care, Dad, |
| 894 | 01:59:01,770 --> 01:59:08,970 | this is what I want to do. I'm sick of this and sick of that. Okay, whatever. So the men understand that you're you're probably laughing and smiling, like, yeah, |
| 895 | 01:59:08,970 --> 01:59:16,890 | I remember what it's like to be young too. But I don't want to see him do it for all the wrong reasons. Like I want him to feel like he's building a legacy for |
| 896 | 01:59:16,890 --> 01:59:23,880 | his children. Should you just let me tell you something real quick as a side topic, since we're all friends here, and I'm hanging out around that fuzzy |
| 897 | 01:59:23,880 --> 01:59:32,400 | thing. My son Cameron has a girlfriend and they've been dating for a number of years. And obviously, you know, teenagers being teenagers left in the |
| 898 | 01:59:32,400 --> 01:59:40,890 | opportunity where things can happen. They've been happening for a while, obviously, am I and my wife found out last week that we were under the |
| 899 | 01:59:41,190 --> 01:59:51,120 | assumption that we were potentially grandparents and we are not, but it was a big to do between his girlfriend's parents. And in Cameron. It was it was |
| 900 | 01:59:51,120 --> 02:00:00,000 | pretty, pretty heated thing. But I told my son I said, now I realized that what's done is done. But do you have any idea how you've complicated everything? |
| 901 | 02:00:00,000 --> 02:00:06,630 | for not only yourself, but your girlfriend and her parents, that she's supposed to be starting college, they're graduate, she's graduating from school going |
| 902 | 02:00:06,630 --> 02:00:10,620 | away, and my son's not going to college. He's learning this. |
| 903 | 02:00:10,650 --> 02:00:20,100 | So there her parents have always been, you know, they're professionals. And they raised other children that are once a police officer was in the military, one is |
| 904 | 02:00:20,100 --> 02:00:28,290 | a physician, and another one's a lawyer. So they're pretty respectable careers, and his girlfriend is going to school to be a veterinarian, if I'm being honest, |
| 905 | 02:00:28,290 --> 02:00:35,220 | I don't believe that, that's what's going to happen. I don't, I just don't see it happening. Nothing to talk against her or anything like that. But I just |
| 906 | 02:00:35,220 --> 02:00:45,180 | don't see that happening. But they see how I am when he met me. And they see that we homeschool him. And it's just like, I think they look at him. Like, they |
| 907 | 02:00:45,180 --> 02:00:52,170 | don't understand what we do. But they all have no idea what it is that we do, and doesn't make sense to them. So they thought they've always looked at him, |
| 908 | 02:00:52,170 --> 02:01:00,270 | like, he's not gonna amount to anything. And that's why another reason why dad's making sure he's going to be ridiculous, because maybe it's details I'm going to |
| 909 | 02:01:00,360 --> 02:01:08,670 | keep out, it's probably not good for me to talk about that. I'll bring it up later on promise, but not tonight. But I just want to make sure that he shows |
| 910 | 02:01:08,760 --> 02:01:16,740 | his girlfriend's parents that he'll make what they make in a year in a week together. And he'll be able to do that consistently. So there won't be any, |
| 911 | 02:01:16,830 --> 02:01:26,250 | there won't be any need for concern for their kids being with someone that doesn't go to public school, and doesn't go to college, because that's the route |
| 912 | 02:01:26,250 --> 02:01:34,530 | they put all their kids through, they went through that too. And, okay, that's fine. But you're all working, you're going to work and being told when you can |
| 913 | 02:01:34,530 --> 02:01:42,360 | go home. And when you can take a vacation. And this is the most this is the most you can make. And maybe you might get a raise when you don't have to do that |
| 914 | 02:01:42,390 --> 02:01:49,530 | who's really in a better position. And that's unfortunate. That was one of the things that I didn't like, and when I found out that we were potentially |
| 915 | 02:01:49,560 --> 02:02:00,600 | grandparents something myself shit, now we're chained to these people. Like, oh, man, I mean, I love her. She's wonderful. But her parents, you just know, as a |
| 916 | 02:02:00,600 --> 02:02:10,410 | parent, they see your son, like, he ain't good enough. Like, that's the vibe I got. So I'm like, You know what, listen, let me explain to you, Cameron, how |
| 917 | 02:02:10,500 --> 02:02:18,840 | this should never be a factor for you to worry about. Because it it wore on him in a while, a little while, you know, hearing from her father question like, |
| 918 | 02:02:18,840 --> 02:02:25,650 | what's he going to do with his life? Where is he going? Why didn't he finished school in a public school? And is he going to go to college? And what, what's |
| 919 | 02:02:25,650 --> 02:02:32,220 | kind of degrees you're gonna get in? He's like, I'm not going to do that. I'm going to do what my dad does. And that's where I'm going to go in life. And when |
| 920 | 02:02:32,220 --> 02:02:38,460 | you don't understand what it is that we do, it doesn't make any sense, right? Like you ever try to explain to someone what you're trying to do, or what you |
| 921 | 02:02:38,460 --> 02:02:45,690 | do, it doesn't make any sense to them, like what do you what, how can how can you do that? Isn't a gambling? Like, how can you be consistently able to do |
| 922 | 02:02:45,690 --> 02:02:54,120 | that? Well, you're seeing how it's consistent, right? It starts by reading price action, which is how I teach. That's the mentor and me that's how I teach my |
| 923 | 02:02:54,120 --> 02:03:01,800 | students to learn how to read price action consistently. And if you manage yourself, and you're able to keep yourself composed, well, using sound money |
| 924 | 02:03:01,800 --> 02:03:10,140 | management, then you stand the chance of being successful consistently. But all those factors need to come together. Like you can't just have one, one piece of |
| 925 | 02:03:10,140 --> 02:03:18,150 | it, they all have to come together in a perfect 100% all factors moving in the same direction. So if I'm being honest with you, I wish I would've brought up |
| 926 | 02:03:18,150 --> 02:03:26,070 | the whole thing about almost being coming a grandfather and all that other business. I know she doesn't listen to these things. And I know her parents |
| 927 | 02:03:26,070 --> 02:03:34,530 | don't listen to this either. But my wife and I had been dying to have a conversation with them, because they were very upset when they thought she was |
| 928 | 02:03:34,530 --> 02:03:42,510 | and she's not. They've had multiple tests on she's, she's nice, she's she's protected, he was protected, but you just know, you know, I mean, whoever |
| 929 | 02:03:42,510 --> 02:03:50,100 | marries my daughter isn't gonna be good enough. I knew that. But I'm also the same guy that Cameron's my son, and for another man, regardless of whose |
| 930 | 02:03:50,130 --> 02:03:57,750 | daughter is for him to think he's not good enough pisses me off, I'm gonna be real honest with you pisses me off. So now I'm motivated to be like, You know |
| 931 | 02:03:57,750 --> 02:04:06,660 | what, I want you to earn enough money, where when it comes time to when he asked you, you say, Listen, let me just show you. And we got about a conversation |
| 932 | 02:04:06,660 --> 02:04:14,700 | about no more, and then boom, sit down and make what he makes in a year, in a week. And in all the conversations are no ego, it just stopped that shit out |
| 933 | 02:04:14,730 --> 02:04:22,290 | immediately. But I didn't tell him like that. I'm talking like that, because it's in me to get it out of me because I want to vent having to on that ship for |
| 934 | 02:04:22,290 --> 02:04:28,380 | a week, and it's pissing me off. Like, I want to go over there and have a conversation with him and his wife and say, hey, look, you know what you said |
| 935 | 02:04:28,380 --> 02:04:36,570 | the camera and how you talk to him and stuff. I understand. But you You knew this was going on too. And I don't know, maybe since the conversation. Like I |
| 936 | 02:04:36,570 --> 02:04:42,120 | said, I shouldn't be having these conversations. But maybe some of you are loving this too. But yeah, it's this. I'm a real person. You know, and I have |
| 937 | 02:04:42,120 --> 02:04:51,450 | kids, I have things that's going on in the real world, like all of you, okay, and it was weird to have that near miss or maybe it was not a near miss. But |
| 938 | 02:04:51,960 --> 02:04:59,970 | that potential total trajectory change in my own personal life and my son's personal life and his girlfriend's life. They're too young for that in a way |
| 939 | 02:05:00,000 --> 02:05:09,570 | They waited way too young for that shit. And my wife would be spending all the money on everything for this kid. And we would be wanting, not want. And she'd |
| 940 | 02:05:09,570 --> 02:05:17,160 | be wanting to be buying everything and wanting the kid to be over here all the time. And it would just be a totally different experience here. And while I'm |
| 941 | 02:05:17,160 --> 02:05:24,450 | not against being a grandfather, and I'm looking forward to a night, I realized how ill prepared I am. I don't want to be one yet. So I might be 50. But I am |
| 942 | 02:05:24,450 --> 02:05:32,400 | Papa that much. So anyway, I just feel like I've covered a lot of things. And I hopefully that were useful to you. But the last part of this stuff is more of a |
| 943 | 02:05:32,400 --> 02:05:39,180 | personal thing. Let me get it off my chest. And I appreciate you listening to it. If you ever had that experience, where you know, maybe one of your children |
| 944 | 02:05:39,270 --> 02:05:48,360 | either got pregnant or gotten them selves in a situation where they got their girlfriend in trouble. And that was dramatic for you. Give me a heads up on |
| 945 | 02:05:48,360 --> 02:05:56,160 | Twitter, let me know about it. Because I never, I never contemplated what it was feel like, like, I just thought it was the gears away, even with my older kids. |
| 946 | 02:05:56,190 --> 02:06:05,850 | But if there's going to be anybody that does, it's gonna be Cameron, like he is he is a young me all over again, but much more respectful. And I wasn't |
| 947 | 02:06:05,850 --> 02:06:13,350 | respectful. When I was younger. When I was learning all this stuff. I was very stupidly arrogant. And I'm trying very careful not to do those things. And it |
| 948 | 02:06:13,350 --> 02:06:20,070 | may not sound like that's what I'm doing. Because I said, I'm going to teach you how to do this. And if it's girlfriend's ask, and we're parents asking you, How |
| 949 | 02:06:20,070 --> 02:06:31,200 | are you able to live? And what are you doing? Like, look at it this way. Okay. Caleb was able to show like $2,200 In three days doing very little with the same |
| 950 | 02:06:31,200 --> 02:06:39,240 | model two, just a little bit. Now I know that's more money than Cameron's girlfriend's parents make together a week, I know that her father is an |
| 951 | 02:06:39,240 --> 02:06:48,900 | electrician, and his mother, I'm sorry, her mother is a nurse, a hospice nurse. And just in three days, that's enough money right there to say that, look, if I |
| 952 | 02:06:48,900 --> 02:06:58,800 | just did the next few days, I'm killing what you both do. And if Cameron can duplicate that, and if that's all he ever amounts to be able to do. He's still |
| 953 | 02:06:58,800 --> 02:07:06,630 | winning. And that's, that's where I'm pushing his attention. Because in sitting down telling him like, hey, look, you can parlay this up into this, this, this, |
| 954 | 02:07:06,630 --> 02:07:14,490 | this, I'd be feeding him all the wrong motivation. So what I'm telling him to do is focus on trying to make six figures a year, if you just focus on six figures |
| 955 | 02:07:14,490 --> 02:07:23,640 | a year, after taxation, it's still comfortable living, you're doing better than the average person in America, it's way above the median income. And you have |
| 956 | 02:07:23,670 --> 02:07:30,030 | all the time to do whatever you want to do. If you want to make it bigger, you can do that. If you want, just live there and not do anything more than that |
| 957 | 02:07:30,030 --> 02:07:35,460 | you're comfortable with that. And that's all you want to put into it. That's fine, too. I'm not going to worry about you. And that's all I want to be able to |
| 958 | 02:07:35,460 --> 02:07:44,400 | do is lay my head down at night, and know that my kids are not going to have to lean on me to bail them out. Because something bad's coming in the future into |
| 959 | 02:07:44,550 --> 02:07:52,440 | economic upheaval and all kinds of other dumb stuff that everybody else is worrying about. And I'm trying to prepare all you to be resilient from falling |
| 960 | 02:07:52,440 --> 02:08:00,930 | victim to I'm trying to do that with all my kids and not to older ones are just not falling in line with it. This doesn't make any sense once depressed, because |
| 961 | 02:08:00,930 --> 02:08:09,900 | he's got his money tied up, and I have the money to replace that. But he has not changed his perspective on crypto, if he had more money, he put more money into |
| 962 | 02:08:09,900 --> 02:08:15,630 | it. He said, and to me, I know I'm not gonna give him money, because that's the way he's gonna do it. So that's the reason why I don't bail him out. So I keep |
| 963 | 02:08:15,630 --> 02:08:22,350 | him in that he's paying credit card payments on the money he borrowed, that he put into that shit that he's locked up in, he can't get his money out of it. So |
| 964 | 02:08:24,750 --> 02:08:32,940 | what is a mentor to do? What is it? What is an ICT to do? And he's in this condition, or this situation rather, just like rusty, y'all got kids, I got a |
| 965 | 02:08:32,940 --> 02:08:39,840 | family and I'm trying to make the best of it. And you might have the answers. But if your kids don't want to listen, we're gonna do it. You can't make them do |
| 966 | 02:08:39,840 --> 02:08:47,970 | it, they're going to do it, or they're not going to do it. And when they're adults, they have the ability to say, Hey, Dad, I appreciate you. But no. And I |
| 967 | 02:08:47,970 --> 02:08:55,410 | don't like hearing them be able to tell me as an adult. No, I'm used to hearing them say, Yeah, Dad, okay, I'll take care of it. Thank you. Now they're adults. |
| 968 | 02:08:55,680 --> 02:09:04,380 | And they can tell me No, Dad, I'm not doing that. So I countered that in chess by telling them, then stay where you're at financially, because I'm not going to |
| 969 | 02:09:04,380 --> 02:09:11,520 | change it for you. And admittedly, Cody, we had a little case of the ask for a little while, and we didn't talk for a couple months, because his idea was, you |
| 970 | 02:09:11,520 --> 02:09:17,280 | know, you should give it to me because you have it. And I told him, You shouldn't have got yourself in that situation. Because I told you, that will, |
| 971 | 02:09:17,340 --> 02:09:24,540 | that's what's going to happen. And if I bail him out of that, and he doesn't feel the pain of it, he's just gonna He's already told me if I give him more |
| 972 | 02:09:24,540 --> 02:09:32,670 | money, he's just going to pour more money into crypto. That's not That's not what I want to do. I want him to learn how to trade something outside of crypto, |
| 973 | 02:09:32,730 --> 02:09:41,190 | and he tried to do it. Why? Because he's depressed. He's depressed about the whole situation. And a girlfriend isn't and they broke up and it's weighing on |
| 974 | 02:09:41,190 --> 02:09:49,410 | him. And when I talk to you all about how you when you have issues in your personal life and you have a separation or a breakup or a divorce or you lose a |
| 975 | 02:09:49,410 --> 02:09:58,140 | spouse or lose a girlfriend or boyfriend or a child, something traumatic happens. You can't take that into the marketplace. And I taught on that because |
| 976 | 02:09:58,350 --> 02:10:07,830 | I saw that in my son Cody when he and his long term girlfriend separated, and then she got with someone that was really well to do his life together house and |
| 977 | 02:10:07,830 --> 02:10:16,290 | everything and a police officer, and they already have three kids real quick, I think it hurt him. And since then he's been depressed. And just he, it's a |
| 978 | 02:10:16,290 --> 02:10:25,830 | physical depression. It's not like, don't feel up to Nick, you can see he's feeling I think he knows he, he let her go. And it was a matter of him pushing |
| 979 | 02:10:25,830 --> 02:10:34,350 | her away. And he doesn't show any signs of being able to cope with that. I mean, he's dated other girls since then. But you can see he's made financial decisions |
| 980 | 02:10:34,350 --> 02:10:44,910 | trying to do what cope replaced that depression with winning, and by betting on stupid shit, and it didn't pan out. So when I was teaching to you how that is an |
| 981 | 02:10:44,910 --> 02:10:53,940 | issue, I was reaching into my own personal family and Cody's experience. Now, Cody's not aware of it, he doesn't know that I'm talking about it. But it's |
| 982 | 02:10:53,970 --> 02:11:02,640 | helpful, Tom. And it's also therapy for me, because I know I have to stick to resolve about this, because he's not in the proper state of mind that me |
| 983 | 02:11:02,640 --> 02:11:10,530 | throwing more money at him is not going to fix it. Because he's not going to do the right things with it. So I let him stay right in this position right now. So |
| 984 | 02:11:10,530 --> 02:11:16,860 | that way, because he's already talking to me, and he's like, you know, I want to I want to make some changes in this that now I think he's coming around, which |
| 985 | 02:11:16,860 --> 02:11:25,290 | is what's required. Everybody has debt, you have debt, you got credit cards, you have a mortgage, you have car notes, you gotta you gotta pay for things. That's |
| 986 | 02:11:25,290 --> 02:11:33,150 | the way the world is. And by sparing my kids, any of that. Am I really teaching them anything? Fuck no, I'm messing them all up. That's how I got Cody in that |
| 987 | 02:11:33,150 --> 02:11:35,250 | situation by throwing money at him. Oh, well, yeah, |
| 988 | 02:11:35,280 --> 02:11:40,980 | that's got me, I gotta worry about shit. Let me just do stupid stuff. Well, there you go. And I regret it. I wish I could go back and change it and never |
| 989 | 02:11:40,980 --> 02:11:48,960 | have done it. And then add that to a young man having a long term relationship. And it fails because of his own actions. And then feeling like he gave the best |
| 990 | 02:11:48,960 --> 02:11:57,150 | thing and his relationship life, you know, that life partner that could have been with him still, he let her go. And I think it eats him up like, it's bad. |
| 991 | 02:11:57,300 --> 02:12:05,760 | It's he can't fix that. And when depression hits you, and it's physical, it's just real hard to shake. And every decision you make is not really clear headed. |
| 992 | 02:12:06,150 --> 02:12:12,150 | And you don't want to do that when you're trading, which is the reason why I mentioned all that stuff before. And I know some of you have things that you |
| 993 | 02:12:12,150 --> 02:12:18,180 | would never talk to me about or even mentioned on social media and you're hiding, it's in your closet, these these things that you didn't make mistakes in |
| 994 | 02:12:18,180 --> 02:12:27,060 | your life. And those are the very things that you're going to allow, if you're not careful to derail you, mess you up, not be profitable, wreck your account, |
| 995 | 02:12:27,090 --> 02:12:35,790 | pursue stuff emotionally, instead of following a model, that's an unfolding truth, that's something that happens, it ain't just the bullet only happens to |
| 996 | 02:12:35,790 --> 02:12:42,660 | me or only happens to you, that's what happens to everybody. In no circumstances. That's always the outcome, but you feel like he for the |
| 997 | 02:12:42,660 --> 02:12:51,480 | exemption, you're not going to be the person that that happens to win, you're probably going to be the centerfold, the perfect example of that, by definition, |
| 998 | 02:12:51,570 --> 02:12:59,280 | if we looked it up, you would be in the case study that that makes the perfect example of explaining, this is what you should not do. That's how it typically |
| 999 | 02:12:59,310 --> 02:13:05,760 | ends up. But you don't feel like you're going to be the statistic, you feel like you're gonna be exempt from it, because it's you, and you're different. And then |
| 1000 | 02:13:05,760 --> 02:13:15,000 | when you go into the marketplace, and you recklessly plow into it, hoping to get some kind of resolve or distraction by winning, knowing full well that that win |
| 1001 | 02:13:15,030 --> 02:13:23,280 | wasn't really a byproduct of your model. It's just because you impulsively gambled, no different from pushing a button on a slot machine at the casino or |
| 1002 | 02:13:23,340 --> 02:13:30,300 | laying down some chips at the roulette table. That's a gamble. So you don't want to do those things, you want to see what I'm doing, teaching you how to see it, |
| 1003 | 02:13:30,360 --> 02:13:38,460 | read it, be bored by it. And then like a business, you know, when when people are running a business, they're not hopping around, you know, all excited |
| 1004 | 02:13:38,460 --> 02:13:47,160 | because they're conducting business today, they're not doing that they're very methodically doing the same thing that's boring to them. You do this, you do |
| 1005 | 02:13:47,160 --> 02:13:53,790 | that you stay organized, you do your books, you pay your taxes, and this is the end of the year, and you can carve out a salary, it's boring, that's how you |
| 1006 | 02:13:53,790 --> 02:14:01,170 | want your trading, you want your trading just like that, it's not gonna cause you sleepless nights, it's not going to be something that you have to stress |
| 1007 | 02:14:01,170 --> 02:14:09,300 | over. It's a business, you know, you're looking for, you know how to anticipate these things repeating. And you know, when you're going to engage and take on |
| 1008 | 02:14:09,300 --> 02:14:17,670 | the risk, you're not allowing your personal life, you're not allowing to things that would make you feel insignificant or inferior, or you need a bump in your |
| 1009 | 02:14:17,670 --> 02:14:24,900 | feel good dopamine, you're not going to try to get that through your trading your trading and pushing the button because there's something your model says |
| 1010 | 02:14:25,110 --> 02:14:33,060 | that this is a high probability, low risk opportunity, and you're going to engage it and you're going to manage it until it's over. And when it's done. You |
| 1011 | 02:14:33,060 --> 02:14:40,650 | close the charts and you turn it off and you walk away and you go to the next session or the next trading day repeat. That's discipline that's running it like |
| 1012 | 02:14:40,650 --> 02:14:51,240 | a business and you're fortifying it and protecting it from any outside stimuli no reason to try to replace a bad feeling away from trading trading is an island |
| 1013 | 02:14:51,240 --> 02:14:58,590 | and of itself. You don't let any your personal stuff into that. You don't let other people in your relationships into your trading. You don't invite their |
| 1014 | 02:14:58,590 --> 02:15:06,150 | analysis. You don't invite their opinion of what you've done, your results are yours, your spouse sees it at the end of the year. That's the best way of doing |
| 1015 | 02:15:06,180 --> 02:15:14,850 | the best way. But isn't it hiding it from your spouse? No, you just tell them, I'm running a business. At the end of the year, I'm hopefully going to show you |
| 1016 | 02:15:14,880 --> 02:15:24,270 | what I was able to do with this. If I show you every day or every week, your response to what I think is either good or not so bad, I may see this response |
| 1017 | 02:15:24,270 --> 02:15:34,740 | that you give me, it may affect me adversely. And then every trade I take will have that same impact of regret or remorse. Because I have shown you something |
| 1018 | 02:15:34,770 --> 02:15:42,030 | that maybe didn't live up to your expectation that you're not trading, you're just my partner, you're my spouse, you're my life partner. So you don't invite |
| 1019 | 02:15:42,030 --> 02:15:51,150 | them into that, be honest, and say, on running this, this is what I'm doing, but you keep them out of it. Because two minds in this is toxic. You're never ever, |
| 1020 | 02:15:51,150 --> 02:15:59,040 | ever, you're never going to be able to be comfortable with that. When you do well. If you show your spouse, and they don't feel the same, you know, |
| 1021 | 02:15:59,100 --> 02:16:05,850 | excitement of what you were able to accomplish, what you're going to feel, wow, they didn't, they didn't see it like I did, they don't appreciate me how much |
| 1022 | 02:16:06,000 --> 02:16:12,090 | effort it took for me to do this and how hard it was, they're never going to understand it. So don't tell him at the end the year there's your results. There |
| 1023 | 02:16:12,090 --> 02:16:18,330 | it is, at the end, the next year, I'll show you my results again, and we'll pay taxes on it. And we get to live off of that. There it is, if the best way to do |
| 1024 | 02:16:18,330 --> 02:16:26,580 | it, you're not hiding it. You're saying look, I don't want to have any mental baggage, I don't want you to influence me, I don't want you to make me feel like |
| 1025 | 02:16:26,580 --> 02:16:32,730 | I got to do better. I don't want you to feel like I didn't do good enough. And if you're honest with your partner, wife, husband, whatever it is that you're |
| 1026 | 02:16:32,730 --> 02:16:40,080 | with, if you're honest with them like that, that's the best way to ring in what you're doing as a trader, you're honest with them, you're going to confide in |
| 1027 | 02:16:40,080 --> 02:16:46,410 | them, when it's time to pay the taxes to hear I'm going to show you what I was able to do. You're not hiding it from them. But you're being honest, because |
| 1028 | 02:16:46,410 --> 02:16:56,670 | it's a very psychological impact. When you will let someone else that you love give them you their opinion about or report card. And a lot of ways I'm thankful |
| 1029 | 02:16:56,670 --> 02:17:06,480 | that my wife is like, well, you know, it's a video game. All of you people play video games. That's all it is. Okay, wonderful. Great. That's easy. It's, it's |
| 1030 | 02:17:06,480 --> 02:17:14,520 | disarming. I gotta worry about it. And frankly, you know, when I do something right in this as a woman, it's not really interested in it. She's never going to |
| 1031 | 02:17:14,520 --> 02:17:21,570 | see this like you would see it or I would see it well. Yeah, that was really precise. Look at that. That was very little drawdown. Look how fast that went |
| 1032 | 02:17:21,570 --> 02:17:30,150 | down. Like we can appreciate that my wife, not so much. So if you know that that's likely in your personal relationships, don't invite it. That's not bad. |
| 1033 | 02:17:30,210 --> 02:17:39,480 | It's not hiding it and being surreptitious, it's better, it's better for you not to invite the adversities that can come into it, because they're not going to |
| 1034 | 02:17:39,480 --> 02:17:48,330 | make you take a trade because you told them unless they tell you Oh, yeah. I'm not really interested in that. We're not saying that. But the expression on your |
| 1035 | 02:17:48,330 --> 02:17:55,740 | face when you showed them your result, and they're not impressed, believe me a man, we know what that looks like. We know what that looks like when you ladies |
| 1036 | 02:17:55,740 --> 02:18:04,440 | say, that's nice. That means I really don't give a shit. What are you showing me that for? I don't care about that. But they're being polite by saying, Oh, |
| 1037 | 02:18:04,440 --> 02:18:14,520 | that's nice. We can read that in our ladies or women, we can see that in but we don't realize is and men, you probably maybe not having spent that many hours |
| 1038 | 02:18:14,520 --> 02:18:21,960 | thinking about how you're going to do this when you finally get with someone if you're single, but you didn't account for how that's going to impact you. And |
| 1039 | 02:18:21,960 --> 02:18:29,790 | then when you take your next trade, and it is approaching your stop loss, you're thinking man, if she really wasn't all that impressed when I had that win, which |
| 1040 | 02:18:29,790 --> 02:18:38,700 | I felt was great. If she asked me how I did today, or she reads it on my face that I took a stop in drawdown, I'm gonna feel really worse. Let me just get in |
| 1041 | 02:18:38,700 --> 02:18:45,900 | here and fix this right now. Right there, you just opened up the opportunity for you to do what wreck your account who's trading the account now retail Rick, the |
| 1042 | 02:18:45,900 --> 02:18:54,840 | gambler, the gamblers in control, you slip seated with retail Rick and the analyst is left home. And shotgun is the the trader at the mercy of wherever |
| 1043 | 02:18:54,840 --> 02:19:02,550 | retail rip steers the car, because now you've invited someone else to call the shots about your trade and how you feel about it, and how you're going to react |
| 1044 | 02:19:02,550 --> 02:19:13,020 | to the adverse respect or adverse react results. In that aspect. You're going to take that whole emotional stimuli and direct your next series of trades, not |
| 1045 | 02:19:13,050 --> 02:19:21,540 | because you're following the model, not because you're doing the right thing with your trading model and risk management. Now you're trading for a outward |
| 1046 | 02:19:21,600 --> 02:19:28,800 | response to something that probably isn't really going on, but in your head it is you're afraid that you're not going to be able to be able to present with |
| 1047 | 02:19:28,830 --> 02:19:37,020 | details and results to your spouse when they ask and he might not ask, but you're afraid they're going to nail and you're gonna wear it on your face. And |
| 1048 | 02:19:37,020 --> 02:19:45,240 | they're going to ask you now, what's wrong? What did you do? Well, you know, your wife, your husband, they know you they know what you did. You know, they |
| 1049 | 02:19:45,240 --> 02:19:51,450 | know you're troubled, and you don't want to lie to them, because that compounds it then you have to tell him what what you don't want to tell him. I was |
| 1050 | 02:19:51,450 --> 02:19:57,660 | thinking about what I showed you the other day, which I felt really good about. And you didn't really show any kind of interest in it and you kind of like |
| 1051 | 02:19:57,690 --> 02:20:05,730 | dismissed it as it really wasn't that big of a deal. So now today when I was trading, I didn't do as well as I should have. And then I tried to fix it. And |
| 1052 | 02:20:05,730 --> 02:20:13,470 | then I created more problems, because I didn't want to have this conversation that I'm having with you right now. And now I want to go back in there and over, |
| 1053 | 02:20:13,470 --> 02:20:23,010 | leverage everything and just go full fucking forward and just go in and risk it all. Because now I'm just angry about everything. How about that? I've done that |
| 1054 | 02:20:23,010 --> 02:20:26,700 | before. I've done that before. And unfortunately, |
| 1055 | 02:20:28,110 --> 02:20:38,190 | it causes a great deal of animosity, not for the spouse, but for you as the trader, because you know, you let yourself become unraveled. And it's so easy to |
| 1056 | 02:20:38,190 --> 02:20:46,080 | see the very moments where you could have took control and said, No, but you don't. Why is that because you're allowing motion, the emotions, the things that |
| 1057 | 02:20:46,080 --> 02:20:53,850 | are external to your trading, you're making that the driving factor in your decisions on when and how you're going to trade. And that is what causes you to |
| 1058 | 02:20:53,850 --> 02:21:02,700 | blow up, you're trying to invite other people to run your business, your spouse is your spouse, they're not your CEO, they're not your boss, this is your |
| 1059 | 02:21:02,700 --> 02:21:10,950 | trading business. Unless they're trading the account with you. They're not employee, they're not boss, they're not co partner, they're outside of the |
| 1060 | 02:21:10,950 --> 02:21:17,640 | company, period, they're no different than your wife, being your wife, your husband, being your husband, and the company you work for right now, they have |
| 1061 | 02:21:17,640 --> 02:21:25,140 | no place in that company, they can't go there, have a say in how the business is ran in the same way with your trading. That's how it's got to be. That's how it |
| 1062 | 02:21:25,140 --> 02:21:33,270 | has to be. And some of you think, Well, you know, I'm gonna start this with my partner with my spouse. And we're going to do this. And I'm telling you, I'm |
| 1063 | 02:21:33,270 --> 02:21:46,140 | telling you, unless you are the frickin extreme exemption, which I can't even imagine where that even exists, because two minds about money are rarely ever on |
| 1064 | 02:21:46,140 --> 02:21:55,140 | the same page. If you look at where divorce is usually, you know, what's the catalyst for divorce, it's number one infidelity. And why is infidelity. Because |
| 1065 | 02:21:55,140 --> 02:22:01,170 | you're not happy in the house, somebody's not doing what they're supposed to be doing. Or somebody's doing extra that they shouldn't be doing. And the other |
| 1066 | 02:22:01,170 --> 02:22:08,880 | reason why there's divorce is it's money. So right away, you're inviting an issue, that would probably never be a factor. If you just listened to me and |
| 1067 | 02:22:08,880 --> 02:22:17,820 | said, Listen, we're going to run a business and trading on the CEO, I'm the Chief Executive Officer, I am the president of the company I am, the sole |
| 1068 | 02:22:17,820 --> 02:22:25,680 | proprietor is through everything, or I'm Mrs. Everything in deference to the ladies that want to do it. But at the end of the year, we'll discuss what was |
| 1069 | 02:22:25,680 --> 02:22:34,530 | done. And then we'll at that time, discuss how we will spend the proceeds. That's where you invite the spouse back into the conversation, that's just the |
| 1070 | 02:22:34,530 --> 02:22:41,910 | way it is. But during the business operations, she's not invited, and he's not invited to the board meetings, you're not a board member. And that's how you, |
| 1071 | 02:22:42,270 --> 02:22:51,210 | that's how you keep the marriage safe. That's how you keep the relationship safe. That's how you keep the emotions and the weight of the opinion of your |
| 1072 | 02:22:51,210 --> 02:22:58,740 | loved one. Because as men, we just oh, wait, I don't give a shit up on my wife thinks she don't know nothing. Let me tell you something. If my wife told me, I |
| 1073 | 02:22:58,740 --> 02:23:04,620 | had a trade that I felt good about. And I showed it to her. And she said, that's really not all that big of a deal that would feel like a chicken and nuts to me, |
| 1074 | 02:23:04,650 --> 02:23:15,600 | because her opinion about me and whatever I do mean something to me. So I'd never invite that. I just, you know, peacock around, I don't talk about it, I |
| 1075 | 02:23:15,600 --> 02:23:22,650 | just let her know that I did it. And she's the rolls her eyes and whatever. But that's how I manage it. I don't sit down and ask for her opinion, because she |
| 1076 | 02:23:22,650 --> 02:23:30,930 | doesn't give a shit. So I never invite her to the board meetings, you may not like this approach. If you have something better, I'd love to hear it. I'd love |
| 1077 | 02:23:30,930 --> 02:23:40,680 | to hear it. I've been around the block enough times and met with so many people that have tried this with their relationships and is not been good. It's not |
| 1078 | 02:23:40,680 --> 02:23:51,600 | been good at all. And if you are going to be a husband and wife team, one of you have to be the CEO and the other person is there just for moral support. That's |
| 1079 | 02:23:51,600 --> 02:23:58,950 | the only other alternative because two minds looking at this, they're not generally going to agree. I see an opportunity here. I don't know about that. |
| 1080 | 02:23:58,980 --> 02:24:06,720 | What do you think about this? Oh, shit, there you go. You have a divided mind. Two minds, risking the same capital that have a relationship, a family a |
| 1081 | 02:24:06,720 --> 02:24:16,320 | household to manage as well, I promise you, the male will bring in problems to that structure. It may not be visible in beginning but it will manifest itself |
| 1082 | 02:24:16,470 --> 02:24:25,860 | because we're wired to be like that. We're the caveman, we do these things. And we are more willing to take risks that the women aren't women are nesters. |
| 1083 | 02:24:25,920 --> 02:24:32,550 | They're, they know that they have to take care of shit. When it's time to take care of shit men, I'll get around to it. When we're in a fucking water you get |
| 1084 | 02:24:32,550 --> 02:24:38,940 | down to it. If I don't want to do it right now I got to do it. Don't tell me how to do my weekend woman. I'm going to do what I want to do how I want to do it. |
| 1085 | 02:24:39,060 --> 02:24:45,330 | And then she puts her foot down says this is the way you're gonna do it. There's a fight and then he ultimately listens and has it done. But you can't have that |
| 1086 | 02:24:45,330 --> 02:24:53,070 | in trading. Somebody has to know that they're the one that is making the decisions. And the other one is subordinate to that whether it be the male or |
| 1087 | 02:24:53,070 --> 02:25:01,680 | the female, the husband or the wife doesn't matter. But one of them is the Chief Executive Officer, the president of the company. Everything is See, you're the |
| 1088 | 02:25:01,680 --> 02:25:10,710 | one and the other one does everything to allow that partner to succeed, cheerlead them on. Don't place any more stress on them that needs to be let them |
| 1089 | 02:25:10,710 --> 02:25:18,150 | talk to them when they want to talk about it and be encouraging all the time. And ladies, if you're listening, I can tell you as a male, that's how you |
| 1090 | 02:25:18,330 --> 02:25:26,580 | encourage your husband. That's how you keep him doing it for the right reasons. You let him do it, you give him space that you encourage him, and you don't pry. |
| 1091 | 02:25:26,640 --> 02:25:33,660 | So what did you do today? Let him tell you trust me, if he's done well, you're gonna know about it. And if he doesn't want to talk to you about it, chances are |
| 1092 | 02:25:33,690 --> 02:25:41,100 | he's probably in drawdown, he's gone through something, let him talk to you when he wants to talk to you. Because if you start asking questions, it's going to |
| 1093 | 02:25:41,100 --> 02:25:47,790 | make that even worse, he's gonna go right back to his computer, it's gonna go right back to his account, and he's going to try to fix it. So that way, he |
| 1094 | 02:25:47,790 --> 02:25:50,910 | doesn't have to feel uncomfortable in front of you. In your eyes. Gentlemen, give |
| 1095 | 02:25:50,910 --> 02:25:57,510 | me an amen. If you don't, I'm talking about you've been there. Because that's exactly how we record ourselves through our family through our relationships. |
| 1096 | 02:25:57,690 --> 02:26:06,600 | Even if the relationship is healthy. That's how it sneaks in. That's exactly how it creeps in and overtakes you. Because you don't want to look like a failure in |
| 1097 | 02:26:06,690 --> 02:26:14,760 | the eyes of your loved one, that's your life partner, you chose to be with that person for life maybe brought children in the world. And you don't want to look |
| 1098 | 02:26:14,910 --> 02:26:23,520 | like you don't care enough about your finances, or your why you're dealing when it's normally just that's a loss, it's drawdown big deal. And if he tells you, |
| 1099 | 02:26:23,790 --> 02:26:31,620 | hey, I took a loss today, it's okay, honey, you'll get it back. You don't need to rush to get it back either. You'll be fine, easy, encourage, say little, let |
| 1100 | 02:26:31,620 --> 02:26:38,580 | him do most of the talk. If he doesn't want to talk, leave it just like that. And you will not inspire him to feel like he has to fix it and just go about |
| 1101 | 02:26:38,580 --> 02:26:45,900 | your business run your household the way we normally would do. Because if you give this gentleman any more reason to feel like he has to put out a fire when |
| 1102 | 02:26:45,900 --> 02:26:55,590 | there ain't one, he'll start one. And then everything unravels very quickly. And many times I've had students that because they short circuited and lost the |
| 1103 | 02:26:55,620 --> 02:27:04,470 | money that they had invested, then problems started between them, because of the animosity of the husband lost control, the spouse did not support him as he |
| 1104 | 02:27:04,470 --> 02:27:12,330 | would wanted to see her support him. And he use that as an excuse to go in and be reckless, and then held a grudge against her for being upset that he was |
| 1105 | 02:27:12,360 --> 02:27:19,770 | reckless and lost their money, and then a divorce. So it's much, much more than blowing your account or losing your fund that account. If you are married, if |
| 1106 | 02:27:19,770 --> 02:27:27,780 | you're going into this with two minds, the other person in that relationship is not a board member. And they have to understand that they're not a board member, |
| 1107 | 02:27:27,840 --> 02:27:37,080 | you're benefiting by the proceeds and gain that this company presents at the end of the year, but you're outside of it, and you're a cheerleader for the one |
| 1108 | 02:27:37,080 --> 02:27:42,960 | that's running, you don't get in the way, you don't try to say what we're going to spend the money on while you're still earning it throughout the year, you |
| 1109 | 02:27:42,960 --> 02:27:49,470 | earn it for the year. And then you sit down as a as a partnership in the marriage is now you've taken income out of it, how you gonna spend it, then you |
| 1110 | 02:27:49,470 --> 02:27:58,860 | sit down and say now you're a board member of the marriage, how do we spend this money, and both be happy about it. That's how you manage this. That's how you do |
| 1111 | 02:27:58,860 --> 02:28:06,750 | it. If you have children, and I'll say this, and I'm going to end it. If you have children that are under 17. You can pay them each year, and they don't have |
| 1112 | 02:28:06,750 --> 02:28:14,820 | to have any income taxes taken from that you have to start an LLC to do that. I recommend an S corp. But you talk to your accountant find out if you're in the |
| 1113 | 02:28:14,820 --> 02:28:25,410 | States is S Corp. But if you have adult children, you can set up a family management LLC, where you can pay them basically a gift each year and you pay it |
| 1114 | 02:28:25,410 --> 02:28:34,590 | through the LLC. And they don't have to pay taxes on that income. And let your your accountant tell you all this stuff, but it will allow you to transfer money |
| 1115 | 02:28:34,590 --> 02:28:43,290 | into them in their hands. And they don't have to pay taxes on on stuff. And you can also write off expenses against that. But you have to let your accountant |
| 1116 | 02:28:43,290 --> 02:28:50,610 | tell you all that I'm not a financial adviser, I'm not a tax preparation person. I'm just telling you, you go talk to someone that can tell you do all those |
| 1117 | 02:28:50,610 --> 02:28:59,730 | things. But there's so many things you can do once you set this up as a business and it's profitable. Like you can do a lot of things that you as an employee at |
| 1118 | 02:28:59,730 --> 02:29:07,230 | the job you're working right now, you don't have any advantages to that, like your health benefits. I don't I don't personally have health insurance because |
| 1119 | 02:29:07,230 --> 02:29:13,830 | it's too absorbent. Even though I have lots of money. I refuse to pay the Obamacare bullshit that they put in place. I'll pay for whatever I got to pay |
| 1120 | 02:29:13,830 --> 02:29:20,010 | for when I get sick. I don't give a shit I am worried about I ain't paying deductibles that are not the doctor wasn't paying all these high premiums for |
| 1121 | 02:29:20,010 --> 02:29:29,760 | something I'm not needing to spend money on. But eventually because I'm now 50 I have to now start thinking about that because what happens if I fall ill to some |
| 1122 | 02:29:29,820 --> 02:29:38,760 | new like multiple sclerosis is in my in my family. Diabetes is in my family, heart disease and cancers in my family. God forbid in Jesus name, I have any of |
| 1123 | 02:29:38,760 --> 02:29:47,070 | that stuff. I'm healthy. I don't have anything wrong with me per se. But any anytime, you know in these years right now, that can change is something can |
| 1124 | 02:29:47,070 --> 02:29:55,560 | happen and boom. You know, I find out I have something that's you know, I have to contend with. It would be a high expense issue. Well, if you were working at |
| 1125 | 02:29:55,560 --> 02:30:01,980 | your job, you have to have health insurance and you pay for that through deductions and your weekly pay paycheck or bi weekly wherever you get paid. When |
| 1126 | 02:30:01,980 --> 02:30:11,850 | you set up your LLC, and you're making money, you can write off your expenses for health insurance. And everything you spend is a write off on that your |
| 1127 | 02:30:11,940 --> 02:30:20,580 | expenses for your cell phone, your automobile, insurance, gas, all those things. And if you make yourself someone online, like an influencer, where you're seeing |
| 1128 | 02:30:20,580 --> 02:30:29,310 | his image, portion of your clothing and things like that all of your travel writes off, and hotel stays and travel expenses, as long as you talk about or do |
| 1129 | 02:30:29,310 --> 02:30:37,350 | business during the time while you're there. If you're working on vacation, that's permissible, and 50% of the things that you spend on restaurant and food |
| 1130 | 02:30:37,440 --> 02:30:45,150 | is a write off, but you don't have that as an employee, like you don't have that benefit as an employee, which makes working for someone else stupid. So if you |
| 1131 | 02:30:45,150 --> 02:30:52,230 | had the skill set, you learn how to do this, and you're able to make money. Unless you were just foolish with money, and you don't want to do the right |
| 1132 | 02:30:52,230 --> 02:31:01,350 | things, you need to incorporate yourself, incorporate yourself. And if you start making a lot of you want to get like umbrella, umbrella policies that if you |
| 1133 | 02:31:01,350 --> 02:31:09,120 | drive down the road, someone does the pull in front of you hit the brakes, and then you rear ended, you want to get an umbrella policy that protects you from |
| 1134 | 02:31:09,120 --> 02:31:16,470 | being sued for a lot of different shit, okay, and they're not terribly expensive. And it takes like, I think like 20 100 hours, you can get like four |
| 1135 | 02:31:16,470 --> 02:31:24,030 | and a half million dollars $5 million coverage from any kind of lawsuits or any kind of like that, it just doesn't handle you got to worry, okay, and when you |
| 1136 | 02:31:24,030 --> 02:31:31,620 | start building the Fluence and you have money, you got to protect yourself from that, because there's ambulance chasers, they're out there all the time, all the |
| 1137 | 02:31:31,620 --> 02:31:39,510 | time, they're always trying to get something from you, okay, and you preserve your your net worth by having these things in place. Because if you were your |
| 1138 | 02:31:39,510 --> 02:31:46,260 | wealth, people will see it, and they're trying to take advantage of it and try to take it from you. And there's ways to prevent all that stuff. And I have lots |
| 1139 | 02:31:46,260 --> 02:31:52,860 | of conversations, I can talk to you about that as we go through the year. But I want you to change your way of thinking about a lot of things, your |
| 1140 | 02:31:52,860 --> 02:32:00,330 | relationships, because this is going to be impactful to your trading, I want you to think about how you run your work life and how you spend your money, what you |
| 1141 | 02:32:00,330 --> 02:32:08,400 | spend your money on, all those things are factors on what's going to cause you to be impulsive about trading, if you manage your finances correctly, if you do |
| 1142 | 02:32:08,400 --> 02:32:16,650 | things, the right things with your money, you won't be so quick to be impulsive about pressing the button to get a feel good moment, because you'll be in a |
| 1143 | 02:32:16,650 --> 02:32:26,070 | better position mentally, because you have all your finances in the right place. All the insurances in place, the protections, all the things that would cause |
| 1144 | 02:32:26,070 --> 02:32:33,090 | the the average person to be scared, and always stressing out, like, I'm not worried about any of that shit, I'm not worried about nothing. Okay, I know, I |
| 1145 | 02:32:33,090 --> 02:32:40,350 | know, any given day, something bad can happen, but I don't live my life worrying about that. I'm not gonna go into the market to make myself feel good. When it |
| 1146 | 02:32:40,350 --> 02:32:49,770 | does give a shit. I'm not worried about that stuff. But you as someone that's now starting how to do all this stuff. If you start falling into success, you |
| 1147 | 02:32:49,770 --> 02:33:01,650 | don't have that yet, because you're going to be new money. And new money isn't genuinely organized. It's not prepared. You are more interested in clout in |
| 1148 | 02:33:01,680 --> 02:33:07,950 | showing up and showing out. And there's things that you should be doing to fortify yourself, protect yourself from other people trying to take what you |
| 1149 | 02:33:07,950 --> 02:33:16,890 | have and victimizing you. So you want to be able to change your perspective on what it is you do in your personal life, your management of your marriage, your |
| 1150 | 02:33:16,890 --> 02:33:27,450 | your relationships, and allow this not to be a factor for impulsiveness for allowing that relationship to be toxic. And then because of that toxic |
| 1151 | 02:33:27,450 --> 02:33:33,360 | relationships thing with people you know, you shouldn't be with Are you in abusive relationship, it can be on both sides, physically or emotionally, |
| 1152 | 02:33:33,420 --> 02:33:41,700 | if you know that it's not working, you know, unfortunately, sometimes it's can't fix it. And if you're trying to reside with someone like that, that is toxic, |
| 1153 | 02:33:41,760 --> 02:33:49,740 | and you're going to be more inclined to do things impulsively, to give yourself a distraction. Or if I can just make a little bit of money today, it'll remind |
| 1154 | 02:33:49,740 --> 02:33:56,760 | me that this is the right thing to do. And I won't be here long. Because I'm, I'm making money, you're doing something outside your model, you're letting |
| 1155 | 02:33:56,820 --> 02:34:04,680 | something other than your model tell you when to press the button. And that is going to invite failure, you're going to blow your account, you're going to |
| 1156 | 02:34:04,680 --> 02:34:11,760 | wreck yourself, all these things compound. And you don't think about it when you first start getting into this because you think oh, it's just it's this trading |
| 1157 | 02:34:11,820 --> 02:34:18,840 | business pushing a button. It's so easy. It's up or down. You know, trading is easy trading is easy. But you're listening to people that aren't making money. |
| 1158 | 02:34:18,840 --> 02:34:27,660 | You're listening to people that are trying to be influencers and managing cloud, social media media engagement, and I'm not that kind of person. I'm telling you |
| 1159 | 02:34:27,660 --> 02:34:36,570 | how to run your life like a corporation, run your life, like a business and run your trading like a business. All these things have to be in balance your |
| 1160 | 02:34:36,570 --> 02:34:45,240 | personal life, your work life and your financial decision making in your trading, that all has to be 100% moving in the same direction, not over here |
| 1161 | 02:34:45,240 --> 02:34:52,470 | doing its own thing and over here doing it and you're not letting anybody even interpersonal relationships have a place in the decision making because if you |
| 1162 | 02:34:52,470 --> 02:35:02,430 | do that you're not in control. You will be impulsive. You will be reckless. You will be reacting emotionally to this stimuli that those relationships present, |
| 1163 | 02:35:02,550 --> 02:35:12,780 | everybody has a day where your spouse, and you just you're not doing things that would promote a calm environment, an argument of some kind of dispute, or |
| 1164 | 02:35:12,780 --> 02:35:20,700 | disagreement. Everybody has that everybody has that. But it's typical for a man to take that out in the marketplace. If you're a trader, you get an argument |
| 1165 | 02:35:20,700 --> 02:35:29,130 | with your spouse, like, generally, our disagreements are my daughter, our daughter, her daughter, biologically, but mine by marriage, but I raised her. So |
| 1166 | 02:35:29,160 --> 02:35:38,220 | she's my daughter, and I want to see her do things. But I also know my place, but sometimes I say more than I should. And I say, this is what she should be |
| 1167 | 02:35:38,220 --> 02:35:45,720 | doing. And I like the fact that you don't try to convince her that this is a problem for what she's doing. And she shouldn't be doing that. And then she |
| 1168 | 02:35:45,720 --> 02:35:53,820 | corrects me and says, No, I'm not going to do that. And I know without her saying, so it's not my place to say anymore. And it's, it's the truth. It's not |
| 1169 | 02:35:53,820 --> 02:36:04,200 | biologically her father, and she's an adult, she's her own person. But I'm also the guy that bails or I have a little bit of a horse in the race here. So I kind |
| 1170 | 02:36:04,200 --> 02:36:11,940 | of like want to defend myself as much as I can. But to also know my place, it's, I don't want to be too overbearing with it. And that's usually the source of our |
| 1171 | 02:36:12,030 --> 02:36:21,840 | arguments. Okay. And when that happens, I'm frustrated, because I know I can't breach that barrier, that are not biologically her debt. Even though she looks |
| 1172 | 02:36:21,840 --> 02:36:30,660 | at me like that. And she respects me more than her biological father, I never press hard. So that stress is a real factor for me. But I don't go into the |
| 1173 | 02:36:30,660 --> 02:36:37,170 | marketplace and say, I'm pissed off at my wife, I'm disappointed that my daughter's not doing what I told her to do. So I need to feel good about |
| 1174 | 02:36:37,170 --> 02:36:44,640 | something. Let me go on air and overleveraged, the British fans because I need to distract myself. Now I don't do that. I don't do that at all. But what I do |
| 1175 | 02:36:44,640 --> 02:36:56,430 | do is I go in to PlayStation, and I play a particular round in Splinter Cell where I kill all the Russians. And I take it all out on them. And that's what I |
| 1176 | 02:36:56,430 --> 02:37:03,600 | do, I go right there, I play that one round. And I do it one time, it takes me 20 minutes, and I feel good. And it's done. That's my coping mechanism. If I |
| 1177 | 02:37:03,600 --> 02:37:10,980 | don't have that, I probably would have gone into the marketplace. So you have to have some kind of hobby outside of trading. So you can channel your energy, |
| 1178 | 02:37:11,100 --> 02:37:19,350 | whether it be positive or negative energy, it might be the gym, it might be working out. It might be martial arts, it might be playing music, or a musician, |
| 1179 | 02:37:19,410 --> 02:37:26,580 | you need some kind of instrument or something, it may be art, whatever it is, you need to have something outside of trading. So that way you can channel your |
| 1180 | 02:37:26,580 --> 02:37:35,250 | energy and say, Okay, I'm investing my time in trading and investing my time and speculating. But once I'm done that disconnect, go do something outside of |
| 1181 | 02:37:35,280 --> 02:37:44,070 | reading some kind of club, you know, hunt, whatever, I don't know, or whatever it is for you. Like that guy, Pat, he serves. That's cool. I like looking at |
| 1182 | 02:37:44,070 --> 02:37:51,630 | that. To me, I'm waiting for a fucking shark to come up better engravers as at one time. I hope it doesn't happen, Pat, but I'm just expecting that shit all |
| 1183 | 02:37:51,630 --> 02:37:59,460 | the time, when I see people surf, I'm not going to do that. I love it. But I'm not going to do it. But you have to have a hobby, somebody has to, you know, be |
| 1184 | 02:37:59,460 --> 02:38:06,000 | able to draw your attention away from the markets and do not feel like you're going to suffocate because you don't have your lifeline connected to the |
| 1185 | 02:38:06,000 --> 02:38:15,510 | marketplace. And I had a long period of my time as a younger man, where everything was that there was this umbilical cord, this oxygen knew like a scuba |
| 1186 | 02:38:15,510 --> 02:38:23,160 | diver like it was my air supply. I had to constantly have my quarterback, I had to constantly be talking about the marketplace, I had to constantly be able to |
| 1187 | 02:38:23,160 --> 02:38:31,020 | see it. If I was visiting other people. And I didn't have my quarterback with me, I would ask him, Hey, can I turn on your cable network and see what the |
| 1188 | 02:38:31,020 --> 02:38:38,910 | financial news network said, which is CNBC now but that I had to see what the ticker tape said every 10 minutes, it would go about, you know, I would say |
| 1189 | 02:38:38,910 --> 02:38:46,710 | okay, here's s&p, here's bonds. And here's whatever market I'm looking at. That's not normal. I never had a chance to unplug, you have to schedule that you |
| 1190 | 02:38:46,710 --> 02:38:55,020 | need to do that in the beginning. So that way it keeps balance in your life. And it won't be like it was for me where it was everything this relationship |
| 1191 | 02:38:55,020 --> 02:39:05,040 | suffered. Children relationships suffered everything, my personal health, my fitness, everything, everything was second to this. The markets were my God, it |
| 1192 | 02:39:05,040 --> 02:39:13,800 | was my religion. It was my everything. And I was offended that other people didn't respect it, like I had respect for it. And I was offended with my family |
| 1193 | 02:39:13,800 --> 02:39:22,290 | members, when they asked me to spend less time with it, and spend more time with them. That's not normal, that's not balanced. And that is not proper for a |
| 1194 | 02:39:22,290 --> 02:39:30,900 | household or a family to run efficiently. And everyone feels like they're doing their part unless you schedule it in the beginning, and you run your life and |
| 1195 | 02:39:30,900 --> 02:39:37,290 | your trading business like that in the beginning. It's real easy to get obsessive with it. Even if you're not an obsessive person. When you start making |
| 1196 | 02:39:37,290 --> 02:39:46,170 | money, it changes you and you want more of it. Especially if you've never came from money. It makes you feel like that's your whole purpose. And that's your |
| 1197 | 02:39:46,200 --> 02:39:52,410 | that's who you are. And without that you're nothing when that's not true, which is a reason why you have to have something outside of trading outside of your |
| 1198 | 02:39:52,410 --> 02:40:00,840 | marriage to you have to have some kind of outlet that is not trading and whatever that is, you need to make sure that you're doing mean that away from |
| 1199 | 02:40:00,840 --> 02:40:07,140 | the marketplace and not thinking about I gotta get back to charts. We gotta get back to trading. If you're carrying your phone around while you're doing it |
| 1200 | 02:40:07,140 --> 02:40:13,050 | other thing for your app with your spouse or significant other and you're constantly looking at your phone, what's trading view? what's the, what's the |
| 1201 | 02:40:13,050 --> 02:40:20,340 | market saying right now, that's not healthy, that's not healthy. And that's how it started with me. And all of a sudden, it'll it will take every moment of your |
| 1202 | 02:40:20,340 --> 02:40:29,070 | life and you're a slave to it versus mastering you want to be the master of it. You're the CEO, you are Mr. Everything missus everything, you're the |
| 1203 | 02:40:29,070 --> 02:40:36,060 | corporation, you run the show, you call the schedule, when you work in when you're not going to work. But if you'd let the money become your Master, you're |
| 1204 | 02:40:36,060 --> 02:40:42,090 | going to slave for it all the time, and you're not going to be happy. No matter how much you make, it won't be enough, it won't ever be enough. No matter how |
| 1205 | 02:40:42,090 --> 02:40:49,920 | much money you make, when you fall victim to it like that. You are never satisfied, you never feel a sense of accomplishment. And you always feel like |
| 1206 | 02:40:49,920 --> 02:40:58,680 | it's not enough. And you want to do what poor money, poor money, pour money into the marketplace. Why? Because that's the report card. And when you make it and |
| 1207 | 02:40:58,680 --> 02:41:04,920 | you get profits, it's not enough. So what are you gonna do more of it, which means your family's gonna suffer, they're gonna see less of you. And I was a |
| 1208 | 02:41:04,920 --> 02:41:14,250 | ghost in my own home for years, they seen me talk to you a couple of minutes. That's a lie. Hours later, I'm still in here looking at shit trading this and |
| 1209 | 02:41:14,250 --> 02:41:22,200 | trade net, I'm done, I come out, everybody's sleeping. And I walk through their house, and I would watch them sleep. That's a lonely feeling when I would repeat |
| 1210 | 02:41:22,200 --> 02:41:32,580 | that over and over and over again. And I would tell myself out loud, I can't do this, like I gotta stop and stop trading and focus on them, I spend more time |
| 1211 | 02:41:32,580 --> 02:41:42,720 | with them. And I can literally see them growing up laying in their bed faces changing, becoming new teenagers. And reminding myself, I've said this so many |
| 1212 | 02:41:42,720 --> 02:41:51,840 | times, but my obsessive compulsive disorder fit into I gotta keep doing that. And you don't realize it. But you lose time, a couple months becomes a year and |
| 1213 | 02:41:51,840 --> 02:41:59,730 | a year becomes several. And all of a sudden, now they're adults, and you can't call that time back. You missed it, you wasted it, you blew it. And that's one |
| 1214 | 02:41:59,730 --> 02:42:08,760 | of the things I hope that you listen to me with because I know I can make you successful that that's, that's a given. I know I can but you have to give |
| 1215 | 02:42:08,760 --> 02:42:16,680 | yourself permission and the time to get there. But the ones that will do it, they'll still mess up by doing things that I did. Because you get too engrained |
| 1216 | 02:42:16,680 --> 02:42:23,580 | with trying to make more when it's enough, what is enough, you have to determine that for yourself. But whatever that is, once you hit it, you stop, then you |
| 1217 | 02:42:23,580 --> 02:42:31,410 | spend time your family do something outside of the marketplace, your hobby will have a life. If not, I'm promise you, you'll be like these weirdos. It's online |
| 1218 | 02:42:31,410 --> 02:42:37,740 | different constantly on social media, they're not with their own families, they're talking shit about everybody else, they ain't even proven, they're |
| 1219 | 02:42:37,740 --> 02:42:39,540 | profitable, they're gonna sue everybody. |
| 1220 | 02:42:41,280 --> 02:42:48,360 | You don't want to be that, okay? That's not what you want to be. You want to be happy. You want to be able to be uplifting to not only yourself, but other |
| 1221 | 02:42:48,360 --> 02:42:56,340 | people that know you and your family members. And you want to be successful. That's that's living. That's, that's the purpose of living is to help other |
| 1222 | 02:42:56,340 --> 02:43:03,570 | people be fruitful in their life, and you be a catalyst to help them do that. That's what, that's why we're here. That's exactly why we're here. We're not |
| 1223 | 02:43:03,570 --> 02:43:10,950 | here to shit on another person. Tell them that they're not good enough or not as good as you are run around telling everybody. You're better than have more money |
| 1224 | 02:43:10,980 --> 02:43:16,980 | accounts and bullshit. Yeah, that's, that's dumb. And people that really have money, they don't go around doing that, that's somebody that doesn't have money. |
| 1225 | 02:43:17,040 --> 02:43:23,160 | And when you're young, you think you want to go out there and do that and flex on everybody. And nobody will care when you do it. They'll have less respect for |
| 1226 | 02:43:23,160 --> 02:43:31,020 | you when you try to do that stuff. So landstar, don't, don't start it. Keep your mind on running your own business, in mind your own damn business. Don't worry |
| 1227 | 02:43:31,020 --> 02:43:38,220 | about anybody else. Whatever happens happens. Always be in a position where you're prepared as best as you can, and have a game plan and stick to it. And in |
| 1228 | 02:43:38,220 --> 02:43:46,800 | my opinion, everything I've talked about tonight is how I teach my children like these are the life lessons I learned. These are the things that I learned to get |
| 1229 | 02:43:46,800 --> 02:43:56,190 | myself prepared for balancing my marriage when I wasn't balancing it. Well. I'm thankful that I'm aware of it. Now. I wish I was more aware of it earlier. Like |
| 1230 | 02:43:56,190 --> 02:44:04,680 | I wish I would have been more aware of it 26 years ago, but 26 Years went by like that. And it's very much a source of regret. For me despite being |
| 1231 | 02:44:04,680 --> 02:44:16,260 | successful, despite being where I am, I'm not happy with the way I put my family aside to do everything that I did be wary, because it's hard. It's hard to |
| 1232 | 02:44:16,440 --> 02:44:25,560 | articulate what it feels like when you can't be satisfied as a young man wanting something you can't have which is the acceptance and approval of a loved one |
| 1233 | 02:44:25,560 --> 02:44:35,640 | that they are gone. So you have to do what you replace it but something you attribute to equal or more value, and that was imaged that was money that was me |
| 1234 | 02:44:35,670 --> 02:44:44,850 | becoming inner circle trader that was me being who you know me as and listening to people and transforming people's lives like I've been so blessed and |
| 1235 | 02:44:44,850 --> 02:44:53,520 | fortunate to be able to do is the only source of worth for having done it the way I did by not spending the time with my wife and my children like I should |
| 1236 | 02:44:53,520 --> 02:45:01,290 | have. It's not hard to understand how much time I spent away from them even in the same house. Look how much I'm still talking into you right now, I don't owe |
| 1237 | 02:45:01,290 --> 02:45:09,540 | you a damn thing. But my heart in my spirit feels like I want to pour out into all of you all the time. You're not talking to me. I don't hear you. I bet I |
| 1238 | 02:45:09,540 --> 02:45:17,790 | know you're listening. I know that you're hearing me. And I know that most times, I'm hitting the right buttons. Because I lived all this stuff. I've went |
| 1239 | 02:45:17,790 --> 02:45:26,760 | through it and hearing the stories of people who they knew finding success with it, seeing their faces lighting up when they're talking about it. Like that is |
| 1240 | 02:45:26,760 --> 02:45:34,860 | healing from it. Because I punish myself every day for not being the father, I should have been and not the husband. Should have been Mr. ICT. Yes, I know. |
| 1241 | 02:45:34,890 --> 02:45:42,900 | It's me. But what about that? I failed there. What about husband, I fell short there. So when I see people share their testimony, not only is it comforting for |
| 1242 | 02:45:42,900 --> 02:45:50,850 | me, and it heals me, it gives me a reason to feel like it wasn't a total waste pursuing it. Because money is wanting you know, but having an impact on other |
| 1243 | 02:45:50,850 --> 02:45:58,800 | people's lives. That's, that's something you can't put a price tag on and seeing the transformation and saw you like you see just the interviews that I've been |
| 1244 | 02:45:58,800 --> 02:46:05,670 | putting in, I have more of them coming. But I have people that reach out to me all the time. And so many of them don't want to do the interview. Like they |
| 1245 | 02:46:05,670 --> 02:46:13,230 | don't want to show their face, they don't want to be in a position where other people can criticize, ask them questions and pry into what they do and what they |
| 1246 | 02:46:13,230 --> 02:46:20,610 | don't do and why they didn't do this. And why did they choose this direction. And I can respect that. There's a lot of people that are in my private |
| 1247 | 02:46:20,610 --> 02:46:28,140 | mentorship that are, they all talk openly through, they're able to talk to one another. And they'll say, you know, I don't want to do interviews, but they |
| 1248 | 02:46:28,140 --> 02:46:36,210 | share their testimony openly in our community. And there's a lot of people that I've trained, I've never seen the face of I've never heard the voice. And I have |
| 1249 | 02:46:36,210 --> 02:46:44,700 | the opportunity to see and hear my students. I get emotional about that. Because if I was to open up this right now and start talking to someone, whoever would |
| 1250 | 02:46:44,700 --> 02:46:50,850 | be asked, and I'm not asking you to ask to talk to because I'm not going to talk to you that night, I will as we go further through the year, but it's not the |
| 1251 | 02:46:50,850 --> 02:46:59,130 | same, like it's not the same as seeing them face to face. And in watching them describe what it was like while they learned us and their view of me as their |
| 1252 | 02:46:59,130 --> 02:47:08,220 | teacher, as someone that poured themselves into them and watching them explain what it's like for themselves right now. And they're smiling, they're wearing |
| 1253 | 02:47:08,220 --> 02:47:17,760 | their joy. Like, that is such an emotional thing for me, I love it. I feel refreshed when I see that man. It's one thing when you know, it works, it's |
| 1254 | 02:47:17,760 --> 02:47:25,830 | wonderful. But when you see someone's life completely changed for the better. And they feel confident that they're going to be able to do this going forward. |
| 1255 | 02:47:26,040 --> 02:47:33,000 | They know they know what they're doing, and nobody can take it away from them. They can talk all this shit they want about it, they don't care, because they're |
| 1256 | 02:47:33,000 --> 02:47:41,280 | successful. Now, they know how to ride that bike. And when you learn how to ride a bike, you don't forget it. And it's just a wonderful, wonderful opportunity |
| 1257 | 02:47:41,280 --> 02:47:52,500 | for me to really nailed down real people for a long time. All I saw was user names, FX m two, one, you know, whatever the fuck it was. So many people were in |
| 1258 | 02:47:52,500 --> 02:47:59,250 | that mentorship. And it's all I knew a number. You know, that was all it was. And the reason why I did that is because everybody was asking for the same |
| 1259 | 02:47:59,250 --> 02:48:04,500 | username, and it was already taken. And you're like, Well, what about this? What about I was like, Man, fuck this, I'm just gonna, here's your username, here it |
| 1260 | 02:48:04,500 --> 02:48:12,570 | is it that's it. And then there was also a watermark for people that were leaking it. So anyway, I can keep on going. But I've said enough tonight, I said |
| 1261 | 02:48:12,570 --> 02:48:18,840 | I was going to stop talking a little while ago. But I just want you to know that there's a right way to do this. And there's a right way to start doing it. But |
| 1262 | 02:48:18,840 --> 02:48:25,590 | you can deviate and make all kinds of mistakes that you won't recognize until it's too late. And you lose time with your family and loved ones. You develop |
| 1263 | 02:48:25,590 --> 02:48:34,920 | toxic habits, impulsive, gambling, all those things can creep in without you realizing until it's too late. And you have to be very diligent and beginning on |
| 1264 | 02:48:34,920 --> 02:48:42,180 | how you're going to proceed, how you're going to manage yourself, who you are you going to allow to influence you. That's a big answer. And you don't really |
| 1265 | 02:48:42,180 --> 02:48:48,480 | think about it, and probably didn't think about it. Like I've talked about it tonight. Until now. Now you have something to consider going into the weekend, |
| 1266 | 02:48:48,540 --> 02:48:54,660 | you maybe have to make some changes and some adjustments in your personal relationships and maybe your marriage and say, hey, look, Michael was talking |
| 1267 | 02:48:54,660 --> 02:49:02,610 | about this tonight. And I want to be honest and let you know that I want to succeed. And are you comfortable with me doing this and we only look at the end |
| 1268 | 02:49:02,610 --> 02:49:09,750 | result in a year. And that way, I don't feel the pressure that you might be placing on me not that you're trying to do it. And not that I should be worrying |
| 1269 | 02:49:09,750 --> 02:49:16,680 | about it. But when you cancel any opportunity for that, it allows you to be objective, and you need to be very objective about what you're doing when you're |
| 1270 | 02:49:16,680 --> 02:49:24,330 | doing it, how you're doing it with your model. If you don't do those things in the beginning, it's real hard to muster the discipline to start doing it because |
| 1271 | 02:49:24,330 --> 02:49:31,200 | you get set in your ways. You're not gonna be consistent. It needs to be in there in the beginning. And right now you're just now learning how to read |
| 1272 | 02:49:31,200 --> 02:49:39,630 | price. You're seeing how nice it is to be able to know what it's going to do. And think about that. That's absurd to be able to say something that we know |
| 1273 | 02:49:39,660 --> 02:49:47,610 | what the markets most likely going to do. That's arrogant and that's preposterous. How can anyone say that and mean it and yet you see us doing it in |
| 1274 | 02:49:47,610 --> 02:49:59,190 | that fun in an amazing think of all these big conglomerates, these banking institutions, this financial firms Wall Street, they're all doing battle |
| 1275 | 02:49:59,220 --> 02:50:07,770 | worrying about that. fluctuations of these markets. And here we are sitting down every day measuring to the tick what they're going to do, when they're going to |
| 1276 | 02:50:07,770 --> 02:50:16,680 | do it. Think about yourself for a second. You're just like me and average Joe from wherever small town USA and Myrtle literally doing what the Goldman Sachs |
| 1277 | 02:50:16,680 --> 02:50:26,940 | boys, the UBS boys don't think about that. They're the movers and shakers in the industry. And it's noise to them. I don't know that gets my rocks off. I love |
| 1278 | 02:50:26,940 --> 02:50:35,490 | it. I love it. I love sharing it. I love seeing everyone's excitement when they see it unfold. And it's just hugely motivating. Because otherwise I'm not really |
| 1279 | 02:50:35,490 --> 02:50:44,850 | impressed by it. I mean, I you see it so many times for so many years. It's just like, and I fall in love with all over again, because I get to live vicariously |
| 1280 | 02:50:44,880 --> 02:50:52,800 | through all of you. When you had that epiphany, that moment of astonishment where the veils pulled back and you see it for the first time, I remember what |
| 1281 | 02:50:52,800 --> 02:51:03,330 | that felt like. And I get to relive it every single time a student says, holy shit, I can see that there it is, it's done. And I get the smile on my face |
| 1282 | 02:51:03,330 --> 02:51:11,520 | aches, because I'm reliving that moment all over again. And I don't feel 50 anymore. I feel 20. And it places just like a time machine right back in that |
| 1283 | 02:51:11,520 --> 02:51:19,890 | moment. And it's fun. It's really such a blessing to have. So many of you having that experience and sharing it with me and sharing it with everyone else. It's a |
| 1284 | 02:51:19,890 --> 02:51:27,120 | motivation that, you know, I never really thought too much about it didn't feel a need for it. Because I was really working too hard to keep this going and |
| 1285 | 02:51:27,150 --> 02:51:35,100 | teaching. But more people over the years asked for it is like, hey, look, can you create a way for us to talk to you and tell you what our stories like and |
| 1286 | 02:51:35,100 --> 02:51:42,270 | those again, you know, whenever I don't have time for it really making lessons for mentorship and managing different user groups and kicking people out that |
| 1287 | 02:51:42,270 --> 02:51:51,510 | we're fucking leaking it too much too much stress now, like I promised, you know, once I got done with that part of it, I would be able to return back to a |
| 1288 | 02:51:51,510 --> 02:52:00,510 | little bit more relaxed approach to teaching. And I'm really enjoying it like I'm I love I love teaching it. I love sharing it. I love showing it live, |
| 1289 | 02:52:00,540 --> 02:52:09,480 | because it's nothing better than it. And when you all get a chance to see it and handle it for free. It's disarming, isn't it like you didn't cost anything you |
| 1290 | 02:52:09,480 --> 02:52:19,080 | just show up and see, does this person really know? He thought he's talking? And then when you watch it's like, whoa, wow. And you start seeing other students |
| 1291 | 02:52:19,080 --> 02:52:27,270 | doing really well. I mean, think about it. What's $100,000 to you? What's $200,000? What's $300,000 to you? Maybe when you first started messing around |
| 1292 | 02:52:27,270 --> 02:52:27,690 | with this stuff, |
| 1293 | 02:52:27,720 --> 02:52:36,480 | you didn't think about those numbers, you were thinking, well, if I could just make 1000 hours a week, or a couple times a month make to turn to like 220 hours |
| 1294 | 02:52:36,480 --> 02:52:43,860 | or so. Yeah, that'd be awesome. Give me my payout and try to make my ends meet get my ends up. Now you're hearing and seeing students throwing big league |
| 1295 | 02:52:43,860 --> 02:52:53,670 | numbers around all from a guy teaching what demo to interesting in it. But anyway, I'm gonna get off here and just see my wife before she falls asleep and |
| 1296 | 02:52:53,670 --> 02:53:00,660 | then I'll have to hear about it tomorrow if I don't. You said he was only going to be down there for an hour and a half. Let me see what time it started at |
| 1297 | 02:53:00,660 --> 02:53:09,690 | seven o'clock. It's freaking for four hours. How about that? Like it's the typical ICT tutor for hours? I don't usually are still listening. I don't know |
| 1298 | 02:53:09,690 --> 02:53:16,740 | how to do that to be honest. I don't know I don't know how to do it just seems like there's a bunch of you still here so but hopefully you got something out of |
| 1299 | 02:53:16,740 --> 02:53:25,020 | this and I hope you had some fun hanging out with me. i This is going to be obviously the Saturday shotgun. Done it all on one, one clip here. I know I say |
| 1300 | 02:53:25,020 --> 02:53:31,230 | I don't plan on doing anything tomorrow. And I'm quite certain I won't be on social media. So don't look for any kind of tweets from me because I'm gonna be |
| 1301 | 02:53:31,230 --> 02:53:38,400 | working with my son in private and such because I have to make sure he stays motivated because today was a little bit harder than it needed to be for I |
| 1302 | 02:53:38,400 --> 02:53:46,110 | think, but enjoy your weekend study and we'll be back at it again, Lord willing on Monday and I'll talk to you then be safe |