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Last modified by Drunk Monkey on 2023-04-19 17:51
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1 == Outline ==
2
3 ##00:15 -## Beauty For Ashes -.
4
5 ##05:00 -## The markets are not a toy store and it’s not a video game.
6
7 ##09:22 -## If you place yourself in a situation where you feel as if you’re never going to find your way into consistency, the market is going
8
9 ##15:49 -## The market owes you an easier pathway to consistency.
10
11 ##20:32 -## It’s frustrating to see the lack of respect for the rules that would lead to them doing the very thing they are looking for.
12
13 ##26:10 -## Having your own timing is more important.
14
15 ##33:11 -## Don't risk too much, don't trade more than one contract -.
16
17 ##38:32 -## You can’t trade with a lot of contracts if you expect to be successful -.
18
19 ##43:34 -## What makes it hard for a new trader is the level of drawdown that they permit.
20
21 ##51:47 -## It’s almost impossible for you to recognize that what you’re doing is wrong if you don’t recognize it.
22
23 ##57:39 -## One contract is all you need to do -.
24
25 ##01:03:05 -## Does that make you a bad trader? Does it make you less of a trader?
26
27 ##01:11:36 -## It’s like the lottery.
28
29 ##01:16:00 -## How do my students deal with losing?
30
31 ##01:21:53 -## Why you don’t want to create an atmosphere where you feel like you have to know what the next move is going to be.
32
33 ##01:29:46 -## Why am I calling everyone “doctor?”.
34
35 ##01:34:23 -## If your results are going to be unbelievably successful, people won’t care.
36
37 ##01:40:50 -## What is the deciding factor that keeps you from going from $10,000 to $100,000?
38
39 ##01:50:57 -## You can’t trade after four o’clock.
40
41 ##01:56:42 -## What is going on here? What is the limit?
42
43 ##02:01:58 -## Some of you want to do this, but you don’t want to pay for it.
44
45 ##02:10:29 -## I’m not making money off of this, I want to talk.
46
47 ##02:16:45 -## If things go where I think they’re going, it’s going to affect everybody and I don’t believe crypto is
48
49 == Transcription ==
50
51 (% class="hover min" %)
52 |1 |00:00:15,780 ~-~-> 00:00:30,030 |ICT: Good evening, folks, how are you? Hope you're doing well. So I figured I'd spend a little bit of time with you all on here on a Twitter space. First one
53 |2 |00:00:30,060 ~-~-> 00:00:51,720 |back from Passover break, which I needed that rest. So the title of this one is Beauty for Ashes. Now I could obviously go on a rabbit trail scripturally
54 |3 |00:00:51,720 ~-~-> 00:01:07,410 |speaking, but we're not going to do that tonight. The idea came to me when I was thinking about how my children are typical children. They don't like to listen,
55 |4 |00:01:07,740 ~-~-> 00:01:20,580 |just like you didn't like to listen. And most children are given enough leeway. They do whatever they want to do and discover the painful consequences. By not
56 |5 |00:01:20,580 ~-~-> 00:01:38,610 |listening to good advice. Now as a father, I've always imagined when my children grew up, if they would listen to the things that I endured painfully and choose
57 |6 |00:01:38,610 ~-~-> 00:01:58,530 |not to do those things that way, they wouldn't have to feel the same types of regret and misery sometimes. And you think as a, as a parent, I promise we'll
58 |7 |00:01:58,530 ~-~-> 00:02:13,410 |talk about the markets. This is all about the markets. But I'm kind of preface it by saying, there's a little bit of a monologue. I wanted to be a Father that
59 |8 |00:02:13,410 ~-~-> 00:02:32,340 |would have the ability to bail saying, This is what you do not do. Here's what it did to me. So therefore, don't do what it did to me. Wasted time, led to
60 |9 |00:02:32,430 ~-~-> 00:02:47,580 |doubt, maybe chase things that were unfruitful. But I had to see for myself, doing many things, pursuing different things, trying to get a result that was
61 |10 |00:02:47,580 ~-~-> 00:03:02,820 |just outside my reach or impossible. And maybe sometimes in your development, while learning how to read the market price, and how to find your own style and
62 |11 |00:03:02,820 ~-~-> 00:03:18,600 |approach. Sometimes it feels like you just can't get it. Once in a while, you'll have this flash of understanding. But it's too short lived. doesn't stay around
63 |12 |00:03:18,600 ~-~-> 00:03:32,490 |long enough, doesn't linger enough for you to feel confident in yourself. Sometimes you have this amazing ability to see precise entry points, precise
64 |13 |00:03:32,520 ~-~-> 00:03:47,220 |draws on liquidity, and you can see where the biases, what it's going to do, how it's going to behave. But it's not happening enough for you. So you go and you
65 |14 |00:03:48,900 ~-~-> 00:04:01,110 |pursue something else. Because you're impatient. You don't want to wait for the thing that you're supposed to be looking for. You chase after things. This thing
66 |15 |00:04:01,110 ~-~-> 00:04:14,220 |looks like it's gonna go up, you have no real reason why to believe it's gonna go up. But you expect it to chase it and it hurt you and it burned you. Now
67 |16 |00:04:14,220 ~-~-> 00:04:31,620 |instead of taking that lesson, and taking it as a deterrent from doing that again. Some of you will do that same thing again. expecting a different result.
68 |17 |00:04:33,450 ~-~-> 00:04:36,240 |And you'll get burned. Again
69 |18 |00:04:41,550 ~-~-> 00:04:57,870 |while doing these things. You don't see the scar tissue that you're creating. You think I'm going to beat this. I'm not going to change the way I'm doing it.
70 |19 |00:04:58,260 ~-~-> 00:05:11,700 |I'm going to do it on my own. I'm terms my own way of doing it. And while there may be something that's been explained to me, in a rule based idea that I have
71 |20 |00:05:11,700 ~-~-> 00:05:28,140 |to follow by someone else's instructions I just want to be a kid. It's like Toys R Us slogan. The markets are not a toy store. And it's not a place where you can
72 |21 |00:05:28,140 ~-~-> 00:05:50,820 |be a kid. It's not a video game. It's not a game at all. It's war. And when you set out in an endeavor to try to do something in these markets, using limp
73 |22 |00:05:50,820 ~-~-> 00:06:15,420 |noodle logic and infancy infancy in your understanding infancy in your app to and no model no model at all. No patience. No specific rule based idea to
74 |23 |00:06:15,420 ~-~-> 00:06:38,970 |follow, you just forge ahead and try to find yourself in the chaos and in the process. You burn your account, you burn your hope. Over time, it burns your
75 |24 |00:06:38,970 ~-~-> 00:06:55,350 |desire to want to do this. And it sears in your mind that this is probably impossible for you. And you're slowly pushing yourself away from it. But you
76 |25 |00:06:55,350 ~-~-> 00:07:07,740 |have friends online that you made acquaintance with, you're part of groups, you're part of mine, you're in this community. And you cut yourself artists
77 |26 |00:07:07,740 ~-~-> 00:07:22,050 |can't let go of it. I can't do it. But I can't stop. But you're not doing what you're supposed to do. You're not following the rules, you're not following the
78 |27 |00:07:22,050 ~-~-> 00:07:39,780 |instructions. You're doing everything but the very thing that you're told to do, and you are burning your house, your dreams, your confidence, the passion that
79 |28 |00:07:39,780 ~-~-> 00:07:55,770 |led you to want to do this at all and you're lying to yourself because you're telling yourself that it's impossible for you to do this. And I agree it's
80 |29 |00:07:55,770 ~-~-> 00:08:12,870 |impossible for you to do what you're doing outside of the instructions though was given to you specific instructions and when you look at your ashes which
81 |30 |00:08:12,870 ~-~-> 00:08:22,020 |you've burned up pursuing something that had no logic for it potentially panning out profitably.
82 |31 |00:08:27,360 ~-~-> 00:08:50,790 |Instead of identifying the lack of control that was required, but you should no concern in that. You placed all the emphasis on doing your way your way through
83 |32 |00:08:50,790 ~-~-> 00:09:08,280 |a very myopic, limited understanding into infantile pushing the button pushing the button expecting something to finally give you the confirmation that you're
84 |33 |00:09:08,280 ~-~-> 00:09:22,950 |doing the right thing by not following instructions. And you won't stop because you want that more than simply following logic that works. That's a discipline
85 |34 |00:09:22,950 ~-~-> 00:09:33,570 |issue. That's not a flawed concept, flawed idea, fake concepts or too rigid of a model
86 |35 |00:09:40,800 ~-~-> 00:09:55,590 |so you'll end up in this situation. If you place yourself there. feeling as if you've never been able to do this. You're never going to find your way into
87 |36 |00:09:55,590 ~-~-> 00:10:08,160 |consistency. The market is going to continuously beat you down so why keep Mikey true And why bother? What's the point? Every time you try to do it, it fails.
88 |37 |00:10:08,370 ~-~-> 00:10:22,620 |But I see what you're trying to do. Is outside of what you started to do, what was the model? Are you employing the model? Or were you doing everything outside
89 |38 |00:10:22,620 ~-~-> 00:10:40,320 |of it? Because you were impatient, and you weren't willing to wait for that model to form in the marketplace. I can tell you, as a younger man, I had that
90 |39 |00:10:40,320 ~-~-> 00:10:52,470 |impulsiveness. I was reckless, I did everything outside of the rules, I would sit down. Over the weekend, I'd write this plan out, I'm gonna do this, I'm
91 |40 |00:10:52,470 ~-~-> 00:11:06,390 |gonna do that, I'm gonna do this, I'm going to do that. And with the cares of the world, my job, everything that was going on around me. I don't have time to
92 |41 |00:11:06,390 ~-~-> 00:11:24,960 |wait for that thing to form, I think this next bar, because I didn't use candlesticks back then. I think it's gonna go up I think is going to go down. I
93 |42 |00:11:24,960 ~-~-> 00:11:42,810 |was forced five minutes ago. But now I think it's going to go down. That's not following a model that's being impulsive. That's trading from your gut, a hunch?
94 |43 |00:11:43,590 ~-~-> 00:11:51,540 |That inclination that you think you see something that you really never seen before. But you're lying to yourself saying, Hey, this looks like something I've
95 |44 |00:11:51,540 ~-~-> 00:12:10,650 |seen before. And what you're showing is, you have no patience to wait for the model. And to doll that ache, that pain of not being willing to sit and wait for
96 |45 |00:12:10,650 ~-~-> 00:12:21,450 |the setup the form for the time of the day, for that setup to form. You'll push the button in times of the day when there isn't any expectation for the market
97 |46 |00:12:21,450 ~-~-> 00:12:39,570 |to be delivering any measure precision. Demanding that it does tricks for you and pay you for your consideration of it. Like it owes you something. You
98 |47 |00:12:39,570 ~-~-> 00:12:53,580 |identified it. You've given recognition to the market, those candlesticks, you've given some of your time. You've placed everybody else and everything to
99 |48 |00:12:53,580 ~-~-> 00:13:11,970 |the sidelines and you've now given all your attention to that candlestick chart to now owes you something that's a lie. But you believe it wholeheartedly. And
100 |49 |00:13:11,970 ~-~-> 00:13:20,220 |you think every time pushing the button outside of the parameters outside of the time that these setups should form
101 |50 |00:13:28,650 ~-~-> 00:13:50,700 |you're victimizing yourself causing a learning curve. That would never end by doing those things. If you've never done this to yourself, if you are a person
102 |51 |00:13:50,730 ~-~-> 00:14:05,430 |that lacks patience, and falls victim to impulsiveness, this is one of the things I've talked about many times over the years. If your relationships and
103 |52 |00:14:05,430 ~-~-> 00:14:22,650 |the way you conduct yourself in the world outside of trading, it will be magnified in trading. If you are someone that is seeking validation, seeking
104 |53 |00:14:24,600 ~-~-> 00:14:38,370 |Well, acceptance you'll do things that are over the top. Expect expecting to be successful in that so therefore you can go forth and bring it in front of other
105 |54 |00:14:38,370 ~-~-> 00:14:53,160 |people so they can glad hand with you. patch on the back. Well done. You're awesome. You're a goat. You're the greatest that's ever done it. In trading
106 |55 |00:14:54,600 ~-~-> 00:15:09,390 |those types of things are the worst. For motivated thing. Now you might end up receiving those accolades as a result of doing things that are more focused,
107 |56 |00:15:10,590 ~-~-> 00:15:26,940 |more purpose driven, more detail oriented in terms of following a model, but not trading for the sake of attention. Status, recognition, a rush to prove
108 |57 |00:15:26,940 ~-~-> 00:15:46,680 |something that's a very, very dangerous path, especially for a young man, especially for a young man that has a desire to stand out from the crowd. That
109 |58 |00:15:46,680 ~-~-> 00:16:07,380 |has done well and other things. And you want this to be easier. easier, because it's somehow owed to you. The market owes you an easier pathway to consistency.
110 |59 |00:16:07,740 ~-~-> 00:16:17,820 |And look, your natural, you'll be able to do this without any kind of rules. That's what your subconscious is talking to you. It's telling you, you don't
111 |60 |00:16:17,820 ~-~-> 00:16:32,640 |need to listen to that stuff. And that's exactly what it was telling me as a 20 year old too. You have to have rules. You have to. And if you do not recognize
112 |61 |00:16:32,640 ~-~-> 00:16:42,060 |that, and you think that you can just impulsively just press buttons, trade on your impulsiveness and your gut feeling that we're price is gonna go, no
113 |62 |00:16:42,060 ~-~-> 00:17:00,840 |probability behind what it is you're doing. And then ignoring that that is not working. It will put you into a gambler cycle. You keep doing the same thing
114 |63 |00:17:00,840 ~-~-> 00:17:10,710 |over and over and over again, it's not giving you the result, but you're not letting go of it. You're gonna keep doing it. Because you accept the fact that
115 |64 |00:17:10,710 ~-~-> 00:17:20,520 |you did that wrong, then. But you want to sweep it under the rug and go right back in and say, yes, it didn't work that time. But I know it'll work the next
116 |65 |00:17:20,520 ~-~-> 00:17:41,880 |time. If you just simply recalibrated all of that energy, all of that focus on the right things. Everyone that blows their account fails at something, it
117 |66 |00:17:41,880 ~-~-> 00:18:03,300 |doesn't have to be trading me anything. Everyone that goes outside of the plan, the approach, the playbook. The results are random. You have no baseline to work
118 |67 |00:18:03,300 ~-~-> 00:18:12,000 |with, then you're building a new one that's outside of the scope of the rules and outlined process that you should be following for whatever endeavor you're
119 |68 |00:18:12,000 ~-~-> 00:18:28,380 |doing. For trading, you have a model, or you should have a model. And you need to follow that. stick to the rules. Trust that these roles will guide you and
120 |69 |00:18:28,380 ~-~-> 00:18:39,750 |remove all of the impulsiveness because the rules say I do this, I don't do that. I can only trade this pattern and setup in between this timeframe, this
121 |70 |00:18:39,750 ~-~-> 00:18:58,260 |beginning and ending window. You don't you don't trade 15 hours after that, and expect the same type of response in price action. You don't do those things
122 |71 |00:19:03,780 ~-~-> 00:19:14,670 |by recalibrating that impulsiveness, but sticking to your guns because, you know, if you keep doing it long enough event, eventually you're going to get a
123 |72 |00:19:14,670 ~-~-> 00:19:24,360 |result that you're looking for. And then by getting it you think that's a reward for doing the right thing when everything you're doing is the wrong thing.
124 |73 |00:19:24,840 ~-~-> 00:19:35,490 |You're shooting outside of a model. You're trading impulsively, you're impatient. You're waiting for the sub perform. Because you're having an issue
125 |74 |00:19:35,820 ~-~-> 00:19:51,570 |with discipline. You don't want to subscribe to an idea that someone else has walked before you lazy and said lays it down in front of you says Hey, start
126 |75 |00:19:51,570 ~-~-> 00:20:09,420 |here. Only do these things and then you failed and you failed again. And you failed again, multiple times over and over and over again. And it becomes an arm
127 |76 |00:20:09,420 ~-~-> 00:20:25,500 |wrestling match. You want to show the teacher that they don't know you. They don't understand you, you're going to be the exception, you're the one that
128 |77 |00:20:25,500 ~-~-> 00:20:43,710 |these models aren't built for. You're going to redefine everything. Yeah, I was mean to 21 years old. So you can imagine how frustrating it is for me to see,
129 |78 |00:20:43,740 ~-~-> 00:20:58,590 |number one, my students do that. But also children, that I had high expectations for that they would see what I'm able to do. And they would want to be better
130 |79 |00:20:58,590 ~-~-> 00:21:19,470 |than me. Like I was expecting my kids to say, hey, you know what? I'm gonna do it faster, and better, and more precise than dead. And here's the playbook. You
131 |80 |00:21:19,470 ~-~-> 00:21:25,620 |can do it better than me. You can do it faster to me, you won't do all the things that I hurt myself with.
132 |81 |00:21:30,960 ~-~-> 00:21:46,410 |In they aren't driven to do that. Which is, I guess it's proving human nature. Humans by default, we don't like to listen. We don't like to I look at the
133 |82 |00:21:46,410 ~-~-> 00:22:00,180 |students in this community. I mean, not everyone likes the long drawn out, teachings get to the point type thing. Because the attention span of a net is
134 |83 |00:22:00,180 ~-~-> 00:22:06,510 |what social media has cultivated. Nobody has time to learn anything properly.
135 |84 |00:22:11,550 ~-~-> 00:22:34,470 |And it's very disheartening to see my willingness to pour myself out even more because it's my own flesh and blood. And to see this lack this disregard for the
136 |85 |00:22:34,470 ~-~-> 00:22:53,970 |rules, that would lead to them doing the very thing that they're looking for. Which now makes me question Is it really the pursuit to do trading? Or is it the
137 |86 |00:22:53,970 ~-~-> 00:23:04,170 |pursuit to say, I did something on my own? Which I can, I can respect. I mean, anybody could respect that, right? There's a lot of people out there trading,
138 |87 |00:23:04,740 ~-~-> 00:23:16,590 |you all kinds of stuff. I mean, I don't subscribe to the things that they do. But they're making money with it. So who am I to say it doesn't work? Right. And
139 |88 |00:23:16,590 ~-~-> 00:23:25,560 |I can understand the passion that would lead one to pursue an endeavor that says, you know, I didn't listen to what you told me to do. And I still was able
140 |89 |00:23:25,560 ~-~-> 00:23:41,400 |to do this. Okay, great. But are you seeing the results that would indicate that you're doing the right things. And you should keep doing what you're doing for
141 |90 |00:23:41,400 ~-~-> 00:23:57,060 |is resetting and resetting and resetting and resetting and spending money? Still not listening? Still not doing the things you're supposed to be doing? Is that
142 |91 |00:23:57,060 ~-~-> 00:24:24,720 |really the better way of doing it? Is that the best direction? I would argue that it isn't. That I have to hold very loosely. These boys in mind. Because if
143 |92 |00:24:24,720 ~-~-> 00:24:43,950 |I say the wrong things. I'll turn their interest completely off. And that's what I'm trying to avoid. I'm trying to keep this little Ember burning. And hopefully
144 |93 |00:24:43,950 ~-~-> 00:24:51,360 |it'll turn into this wildfire that nobody can put out. And they'll be better than I am.
145 |94 |00:24:58,620 ~-~-> 00:25:13,350 |When you sit down and you listen to a child, they they say, if I don't understand why I can't do it. I don't understand why it's so hard. And then you
146 |95 |00:25:13,440 ~-~-> 00:25:27,960 |just gently slide a piece of paper in front of and say, are you talking about this? Are you saying this? This doesn't work? No, no, no. I'm talking about my
147 |96 |00:25:27,960 ~-~-> 00:25:41,910 |way of doing it. But what way is that? If you've never done it before, you've never been successful before. You just started, how can it be your way of doing
148 |97 |00:25:41,910 ~-~-> 00:25:56,160 |it, you're doing what everybody else has done. pushed buttons, found out. That didn't work. So let's push more buttons and find out that it still doesn't work.
149 |98 |00:25:56,640 ~-~-> 00:26:09,390 |And ignore the data that's being presented to you ignore the fact that you're not getting the results you're looking for. This is exactly what I talk about.
150 |99 |00:26:10,230 ~-~-> 00:26:32,700 |In all of my lessons. Having my DNA having my time, having me right next to them available to pick my brain was not advantageous at all. Because pursuing an
151 |100 |00:26:32,700 ~-~-> 00:26:49,890 |endeavor on their own steam, their own timing, their own way of doing it was more important. And I can't tell you how frustrating it is. Is very frustrating.
152 |101 |00:26:57,390 ~-~-> 00:27:11,400 |This is funded accounts. It's companies that do these things. I've never had an interest in and I generally don't have an interest in. But I've seen my son work
153 |102 |00:27:11,400 ~-~-> 00:27:26,520 |with this. And I'm not going to say anything about the company. Because like I said it's too soon to say really anything. But I've watched my son's account,
154 |103 |00:27:28,680 ~-~-> 00:27:42,480 |run into certain roles that they have. And when that account would make money, not really make money because it's like, it's, I guess it's like a demo, I guess
155 |104 |00:27:42,480 ~-~-> 00:27:50,940 |what they make you do a demo, or the equivalent thereof, where you're you're trying to pass the Combine or whatever. And then you get funded, quote, unquote,
156 |105 |00:27:50,940 ~-~-> 00:28:09,390 |funded? Well, they have these rules. And he got stopped out of his trading when he thought he had a cushion. So my understanding, I may not have this entirely
157 |106 |00:28:09,570 ~-~-> 00:28:22,170 |correct. So just bear with me here. From what I gathered as as you make money in the Combine account for when you increase the balances, but that might, because
158 |107 |00:28:22,170 ~-~-> 00:28:36,810 |there isn't any money in that. When you increase the value of the balance of that account, these companies they roll your maximum loss rate back up
159 |108 |00:28:37,290 ~-~-> 00:28:53,850 |underneath, you know, whatever fixed percentage or amount is. And he felt that he had cushion. So okay, well, if you start with 150,000, hypothetically, and
160 |109 |00:28:53,850 ~-~-> 00:29:06,030 |you make 2000, make 3000 make whatever it is, then you should have whatever that initial cushion was plus whatever you now put in the account. And apparently,
161 |110 |00:29:06,120 ~-~-> 00:29:18,840 |and I might be I might be incorrect by saying this. But from what I gathered from him, it's not like that. So what he thought was a cushion. Wasn't there. So
162 |111 |00:29:18,870 ~-~-> 00:29:38,370 |they said you broke a rule. Okay. So anger kicks in. He's gonna go and do it harder and faster now. More contracts, because he has time. Lost he wants to
163 |112 |00:29:38,370 ~-~-> 00:29:56,970 |make it up. So he's impulsively pushing the button, no model, not listening. And now he's dealing with more contracts. So I haven't sat down with this is one of
164 |113 |00:29:56,970 ~-~-> 00:30:09,120 |the things I was gonna do tomorrow morning. I want to sit down and see how they put this maximum stop loss in. And when you make money it goes up. It sounds to
165 |114 |00:30:09,120 ~-~-> 00:30:23,130 |me I want to say what I want to say, but it may not be fair. So just bear with me. Okay. This is what I'm suspecting right now, but I don't know in full
166 |115 |00:30:23,130 ~-~-> 00:30:36,420 |detail, okay? Because I only see screenshots. Okay, only see, you know, show me what you have right now. And then that's a login, does the login you can see
167 |116 |00:30:36,420 ~-~-> 00:30:44,910 |what he's doing and what he's done right and what he's done wrong, he wants to show what he did, right but he doesn't want to talk about what he did wrong. So
168 |117 |00:30:44,910 ~-~-> 00:31:01,020 |I had to be very careful. Because I know how this is going to go. He's going to hit a brick wall. And it's gonna be alright. I tried it my way. Certainly when I
169 |118 |00:31:01,020 ~-~-> 00:31:16,080 |was just still. And I had a little small window of opportunity to do that today. So I spent my time with him. I was all over the charts today. But I had to spend
170 |119 |00:31:16,080 ~-~-> 00:31:33,870 |time with him. So because of my frustration, as a dad, trying to get him to listen. And my other boys to listen when it comes to this stuff. It's amazing
171 |120 |00:31:33,870 ~-~-> 00:31:44,160 |though listen to everything else. That said this, this is what we're supposed to do. We're not allowed to do this. Don't talk out of character. Be respectful.
172 |121 |00:31:44,220 ~-~-> 00:31:54,000 |The whole business manners the whole show. So I guess is there one area, they can say? Look, we don't have to do this your way, when this is the very thing
173 |122 |00:31:54,000 ~-~-> 00:32:06,930 |that you should be doing my way, right. But that's not what I'm seeing here. And it's very frustrating for me. And my obsessive compulsive disorder is really
174 |123 |00:32:06,930 ~-~-> 00:32:22,770 |having a hard time managing all it. Like it's I want them if I if I could ever be one. Ogre over lording over them saying, you're gonna do this, and you have
175 |124 |00:32:22,770 ~-~-> 00:32:37,200 |no other way. This is it. I want my inside of me, I want to be that way towards them. Like I want to. I want to exert my dominance as their father in this area.
176 |125 |00:32:38,460 ~-~-> 00:32:48,570 |But I know that won't work. It wouldn't work with me if I was their age, it won't work for them. And it'll do the very thing that I don't want to see
177 |126 |00:32:48,570 ~-~-> 00:32:58,710 |happen, which is leave a bad taste in your mouth. And they'll just say, You know what, I'm not going about this. So I it's unbalancing something very, very
178 |127 |00:32:58,710 ~-~-> 00:33:07,830 |delicate, fragile. And they're young men. And young men, you know what it's like, you've been there before, probably. And you're probably feeling it right
179 |128 |00:33:07,830 ~-~-> 00:33:17,520 |now. You want things to be easy for you. There's nothing wrong with that. There's nothing wrong with wanting things to be easier. But you have to identify
180 |129 |00:33:17,520 ~-~-> 00:33:30,570 |doing the things wrong repeatedly. Against the good sound logic of something that has worked in the past. Don't risk too much don't trade more than one
181 |130 |00:33:30,570 ~-~-> 00:33:43,260 |contract. Because these funded accounts, I'm going to say this, and I don't need to have any more details to know this is what this is. They exist to fleece you.
182 |131 |00:33:45,150 ~-~-> 00:33:56,700 |They already know the statistical probabilities are, you're going to fail. You're gonna fail. Because you're going to be impulsive. You will not use sound
183 |132 |00:33:56,700 ~-~-> 00:34:07,380 |logic with risk management, you're going to trade more contracts, and that's why they lie. They dangle that carrot there. You can trade up to 15 contracts. They
184 |133 |00:34:07,380 ~-~-> 00:34:39,450 |didn't say trade with 15 contracts. They just said hey, you can and he tried once, not twice, not five times. Six times. Burn, burn, burn, burn over and over
185 |134 |00:34:39,450 ~-~-> 00:34:57,570 |and over again. Thinking that that was going to be the answer. Not realizing that threshold that is so small. Let's let's play devil's advocate for a moment.
186 |135 |00:34:57,570 ~-~-> 00:35:09,210 |Okay. I know some of you too. Hearing from the companies are listening to me and you follow me, just hear me out. I'm not spitting in your face or saying what
187 |136 |00:35:09,210 ~-~-> 00:35:20,940 |you're doing isn't helping some because some of my students are actually doing well. But this discussion here tonight is meant to just really place the
188 |137 |00:35:20,940 ~-~-> 00:35:42,720 |emphasis on doing the right things as you as as a trader that would use these types of companies. Number one, the risk is too tight. And I know how to trade.
189 |138 |00:35:44,700 ~-~-> 00:35:56,010 |If you're saying that, you have no chance of succeeding, if you only lose a couple $1,000. That ends it, that completely ends it. We're not even talking
190 |139 |00:35:56,010 ~-~-> 00:36:06,090 |about 10%. I don't know what the actual figure is, because I just don't know. But I know it's not 10% 10% would be reasonable to you, you just know, good
191 |140 |00:36:06,540 ~-~-> 00:36:17,010 |that, you know, you've messed up your 10 percents, that you should be able to do better than 10% not go to 10% drawdown. They're not none of them are doing that.
192 |141 |00:36:21,240 ~-~-> 00:36:45,030 |When I'm trading with I take a trade that I feel is worthy of a high risk percentage behind it. I can work with 5%. Now, I believe that would fail. These
193 |142 |00:36:45,030 ~-~-> 00:36:52,230 |funded account challenges if you were to use that, and you take a loss at the full 5%. I think if I found if I'm not mistaken, I think that would fall
194 |143 |00:36:52,650 ~-~-> 00:36:57,690 |underneath the umbrella of most if not all of them. And that would be considered, you failed.
195 |144 |00:36:59,010 ~-~-> 00:37:10,980 |In my eyes as a trader, that's nonsense. Because that one trade that one period of drawdown a 5%. That doesn't mean anything in the grand scheme of things.
196 |145 |00:37:12,180 ~-~-> 00:37:20,610 |Especially if you're pushing real hard. And I'm not suggesting that anyone should go into these companies or these carbines and push real hard, that's the
197 |146 |00:37:20,610 ~-~-> 00:37:39,660 |very thing you should not be doing. About my son, he felt that pressure. And the words were it feels like I'm trapped in this small room, and I can't move
198 |147 |00:37:39,660 ~-~-> 00:37:50,550 |around. Well, that would be true. If you're trading with 15 contracts. It would be true if you're trading with 10 contracts. It's true. If you're trading with
199 |148 |00:37:50,580 ~-~-> 00:38:12,540 |875. And you don't know what you're doing. The model was one contract. I don't care what these companies say you can trade as many as that is the hook. That's
200 |149 |00:38:12,540 ~-~-> 00:38:24,840 |the thing that you're going to reach to when you do the one trade that wasn't really all that heavily leveraged. And you want to fix it real quick. Well, you
201 |150 |00:38:24,840 ~-~-> 00:38:39,150 |know, all I gotta do is go in here and do five contracts and get it back real quick. They know that you're going to do that. And it it's advantageous for them
202 |151 |00:38:39,840 ~-~-> 00:38:54,120 |to see you fail, because you'll pay that $99.06 And seven different times and then expect to get you right around that next new month. You got to pay the
203 |152 |00:38:54,120 ~-~-> 00:39:07,440 |dues. And the whole time you're seeing all that stuff add up. Is it helping you get more patient? No. It's revenue up to do what? Think impulsively even more.
204 |153 |00:39:10,140 ~-~-> 00:39:24,630 |The words were, I gotta get this before they ask for more money. But you're feeding them every day. Reset, reset, reset, not doing what you're supposed to
205 |154 |00:39:24,630 ~-~-> 00:39:31,860 |be dealing, doing everything outside of the rules. Not just there's mine
206 |155 |00:39:38,190 ~-~-> 00:39:48,870 |this might sound like something that you've put yourself through. And you should be encouraged to know that even my own children. This is what they're going
207 |156 |00:39:48,870 ~-~-> 00:40:08,520 |through. It's a character flaw. It's something inside of you. And these 100 accounts You can't trade with a lot of contracts, if you don't know what you're
208 |157 |00:40:08,520 ~-~-> 00:40:21,690 |doing, and expect to be successful. And I'm trying to put that into say, just like that. So there's no real advantage. There's no real advantage to do
209 |158 |00:40:21,810 ~-~-> 00:40:37,410 |$150,000 account when you can do profitable trading with the 50. He doesn't like the idea of doing that. No, no, no, I'm going to do it this way, whenever show
210 |159 |00:40:37,410 ~-~-> 00:40:56,490 |me already knew how this is going to end. But show me daily, he builds the house. He's the builder. He's the architect. He's doing what he wants to do, and
211 |160 |00:40:57,390 ~-~-> 00:41:18,960 |burns down. And because it's so cheap, $9 like I do nine $9 And it's all gone. You get beauty for your ashes. It doesn't, it doesn't hurt anymore. Everything I
212 |161 |00:41:18,960 ~-~-> 00:41:26,610 |did wrong, doesn't exist anymore. It's swept under the rug. It only cost me less than 100 bucks.
213 |162 |00:41:31,770 ~-~-> 00:41:51,510 |Doing the same thing over and over again. When by simply doing one contract, following the model, taking that piece of flesh from the market and stopping.
214 |163 |00:41:54,900 ~-~-> 00:42:11,220 |You can't break any rules he did. What's today Friday, Thursday, Thursday, he had a trade on after four o'clock. And apparently there's a rule that they say
215 |164 |00:42:11,490 ~-~-> 00:42:21,750 |you can't trade after four o'clock, like you got to close your your trades at four o'clock. And he did well and went to Target set through something and went
216 |165 |00:42:21,750 ~-~-> 00:42:34,440 |right to his target. And then found out that that didn't matter. He had to reset, because he broke a rule about time. Listen, folks, trading in itself,
217 |166 |00:42:34,680 ~-~-> 00:42:48,180 |okay. Trading in itself is very, very difficult to learn in the beginning. And for you all out here that are trying to rush into these funded account
218 |167 |00:42:48,180 ~-~-> 00:43:03,990 |challenges. You're increasing the level of difficulty. When you don't have a model. You don't trade with real risk management, real risk and trade
219 |168 |00:43:04,020 ~-~-> 00:43:18,510 |management. I don't care what size account that you have with any of them. If you just trade with one contract, you'll never break their rules. And you'll
220 |169 |00:43:18,510 ~-~-> 00:43:41,400 |make money but greed, greed and impatience, I gotta get through. Step one. I gotta do it. This is I can do it in five days, I got to do it. The rule was
221 |170 |00:43:41,580 ~-~-> 00:43:50,160 |spend up two weeks. Don't listen to that. It says you can trade 15 contracts. Don't listen to that
222 |171 |00:43:55,289 ~-~-> 00:44:12,629 |what makes this very very hard for a new trader is the level of drawdown that they permit is stupid. Now, today because my son was basically looking at me
223 |172 |00:44:12,629 ~-~-> 00:44:24,539 |like this is this is impossible. Like it's impossible. So I had to step in, Mister possible. I said listen, let's let's just take a look at what's going on
224 |173 |00:44:24,539 ~-~-> 00:44:35,969 |this morning. Okay. You've been doing everything wrong. Let's just go back to this piece of paper here and what does it say to do? Alright, with that, I want
225 |174 |00:44:35,969 ~-~-> 00:44:57,539 |to do this alright, we'll do what you want to do. As long as it agrees with what's on this paper. Do you agree? Okay. So I got it. I say now look at this
226 |175 |00:44:57,539 ~-~-> 00:45:08,429 |right here. Do you see the chart showing you this. Do you see that that news at 830 caused this movement, and at 10 o'clock, we're expecting it to run again.
227 |176 |00:45:10,769 ~-~-> 00:45:24,269 |It's going to do what? Well, you as my students know that I was looking for 41 A, B and E S. I wanted to see a trade there and how it traded there would tell
228 |177 |00:45:24,269 ~-~-> 00:45:49,019 |me how we closed the week. So we sat there, we watched it spike up. Monster work through 4177 Nasdaq plummeting dollar raging higher. I said, now you have a
229 |178 |00:45:49,019 ~-~-> 00:45:49,469 |setup.
230 |179 |00:45:54,659 ~-~-> 00:46:13,199 |And suddenly, all the planets aligned. And immediately just only 36% of the $9,000 that he's supposed to get before he's, quote unquote, funded, falls into
231 |180 |00:46:13,199 ~-~-> 00:46:17,819 |his step one, phase equity.
232 |181 |00:46:23,579 ~-~-> 00:46:38,219 |Now I don't know how this works, because like I said, I have never had a real interest in. But apparently they have a rule, or this particular company has a
233 |182 |00:46:38,219 ~-~-> 00:46:49,709 |rule where you can't have more than 40% of the 9000 made in one day. So I'm assuming if you were to make more money, I'm saying this facetiously, because I
234 |183 |00:46:49,709 ~-~-> 00:47:03,599 |don't know. But if that's true, like if you make more than 40% of the 9000 in one day, does that fail you? Does it like does it like cause you to break a role
235 |184 |00:47:03,599 ~-~-> 00:47:11,969 |or they just don't count that and you just have to keep moving on? I don't know. But I plan on reading through all the stuff that way I can sit down with him.
236 |185 |00:47:11,969 ~-~-> 00:47:25,559 |And hopefully next week, he'll do better than he's been doing. But today I told him, this is what you're looking for. And when you see it push the button. I'd
237 |186 |00:47:25,559 ~-~-> 00:47:50,879 |like to say that that was enough to satisfying but no. No. In some ways, it felt like that bolstered the willingness to want to do his own way. Like he somehow
238 |187 |00:47:50,879 ~-~-> 00:48:00,929 |saw something new. He learned something new from that. And therefore that piece of paper that has a simple set of rules that he has to follow, need not be
239 |188 |00:48:00,929 ~-~-> 00:48:07,229 |concerned with. So what is he exhibiting a character for
240 |189 |00:48:13,710 ~-~-> 00:48:24,960 |those of you that learn from me, and you don't listen to what I'm telling you to do, follow the bias that I'm outlining. This is where I think the markets gonna
241 |190 |00:48:24,960 ~-~-> 00:48:38,310 |go and you're fading that and then crying, sending emails, posting things on Twitter, complaining to other people and videos about me when you're doing
242 |191 |00:48:38,310 ~-~-> 00:48:54,150 |everything opposite, and then struggling, and then trying to find the blame on me or something outside of yourself. That's nonsense. You have to snap out of
243 |192 |00:48:54,150 ~-~-> 00:49:06,930 |it. You have to stand that you can't do those things. Number one, the world isn't going to let you do that. You'll have a rude awakening. You can lie to
244 |193 |00:49:06,930 ~-~-> 00:49:17,340 |yourself in your trading. But eventually you're gonna have to see that person in the mirror and it's going to hurt when you have to come to grips with you're
245 |194 |00:49:17,340 ~-~-> 00:49:32,010 |burning it down. You're the one holding the gasoline. You're the one has the lighter in your hand. You're you're doing it each time you're doing that you're
246 |195 |00:49:32,010 ~-~-> 00:49:45,090 |causing that fire that causes more damage. And everything has to be rebuilt all over again from scratch. But it's not just as a reset. You're bringing something
247 |196 |00:49:45,090 ~-~-> 00:49:56,670 |new each time. Depression, fear concern of how many more you can afford
248 |197 |00:50:04,770 ~-~-> 00:50:22,530 |All those things you're bringing into that new reset. It's not just $99 anymore Is it? It's really expensive, really expensive. In each time, it's gonna get
249 |198 |00:50:22,530 ~-~-> 00:50:36,030 |harder and harder. Because at some point, you're going to start doing the math on how much money you can throw into resets, and how far you're behind. See,
250 |199 |00:50:36,030 ~-~-> 00:50:45,360 |when you first start, if you're new, you've never really put any money in the marketplace. The idea seems novel, it's wonderful, like, hey, wow, this is such
251 |200 |00:50:45,360 ~-~-> 00:50:52,230 |an opportunity for me to go in here and not really using my money. And then suddenly, you discover, you put a whole lot of your money into it, one reset of
252 |201 |00:50:52,230 ~-~-> 00:51:13,200 |time. Ever, every new monthly do payment. And you want the maximum. So you want to give them 400 hours a month. While doing nothing, right? And you build up a
253 |202 |00:51:13,200 ~-~-> 00:51:33,510 |list of resets, each one costing about 100 bucks. And not making anything. Not even getting to step two, where they're where you're considered funded. All that
254 |203 |00:51:33,510 ~-~-> 00:51:45,150 |money being wasted, all that time being wasted. And all of that scar tissue being created in your subconscious about what it is that makes you a traitor.
255 |204 |00:51:47,370 ~-~-> 00:51:58,290 |And it's interesting. It's almost impossible for you to recognize that what you're doing is wrong. You're telling yourself what you're doing is right, it
256 |205 |00:51:58,290 ~-~-> 00:52:17,040 |just has to be done longer. And it'll start working. If you just recalibrated that tenacity, that HuFa that that that Moxie, that thing that just says, I
257 |206 |00:52:17,040 ~-~-> 00:52:33,870 |don't care. I'm doing this. If you apply that to a model that works with sound logic, you're invincible. you're invincible doesn't mean you won't have losing
258 |207 |00:52:33,870 ~-~-> 00:52:44,640 |trades. It means even with losing trades, you're not going to deviate, you're gonna stick to what works. It's proven itself to you. The bad back testing has
259 |208 |00:52:44,640 ~-~-> 00:52:56,760 |proven it. I have proven it. I've shown live, this is what it's going to do. And it doesn't. This is what time is going to form and it does. But if you're not
260 |209 |00:52:56,760 ~-~-> 00:53:08,280 |going to reach for that logic, and what you're doing is costing you money and resetting and frustration and becoming more and more agitated by not following
261 |210 |00:53:08,280 ~-~-> 00:53:19,260 |the rules. Imagine what would happen if you started following the rules. If you just simply did what you're told to do. How much easier would it become
262 |211 |00:53:27,150 ~-~-> 00:53:41,640 |at some point, you're gonna have a whole pile of ashes. And you'll be sitting here looking at all the things that you've wasted. time, energy and money. And
263 |212 |00:53:41,640 ~-~-> 00:53:54,870 |when you really sift through those ashes, and honestly see what you've done, really didn't use what I taught. You really didn't listen to the lectures and
264 |213 |00:53:54,900 ~-~-> 00:54:10,530 |the advice about what not to do and what to do. You really didn't do that. But hey, look at that pile of ashes you got you were doing something you weren't
265 |214 |00:54:10,530 ~-~-> 00:54:30,420 |wasting time studying right? You were doing something in the something you were doing wasn't profitable. And that weighs on you subconsciously and over time. It
266 |215 |00:54:30,420 ~-~-> 00:54:44,970 |will make you toxic and you'll start being spiteful. Not to yourself. You won't hold yourself accountable. But you'll point the finger at everyone else. Your
267 |216 |00:54:44,970 ~-~-> 00:54:57,930 |friends, your family, me, our community trading in general because it hurts too much to identify the fact that you did this yourself. Nobody guided you
268 |217 |00:54:58,650 ~-~-> 00:55:09,480 |incorrectly. You did do everything wrong, and you made those decisions. Are you in a position to be accountable for that? Where you can say, you know, if I'm
269 |218 |00:55:09,480 ~-~-> 00:55:21,150 |being honest, I made these mistakes on my own, nobody told me to do that I did on my own. Because that's what a traitor is. It's a person that says, I own my
270 |219 |00:55:21,150 ~-~-> 00:55:30,960 |results, good or bad. I can live with myself, because I'm following a model, I have a robust idea that I'm going to stick to that allows me to be objective,
271 |220 |00:55:31,230 ~-~-> 00:55:39,180 |I'm not going to be swayed by my notions, I'm not gonna be swayed by the psychological impact of what other people think I should do, and how I should
272 |221 |00:55:39,180 ~-~-> 00:55:39,570 |trade.
273 |222 |00:55:44,849 ~-~-> 00:55:56,549 |Look at social media, I was gone for today. And I'm seeing people argue about me, what I have said nothing. I'm up that people are upset with me, and I
274 |223 |00:55:56,549 ~-~-> 00:56:05,459 |haven't done anything. Now I can cause a bunch of chaos. And I don't mind if they're talking about it, then. But if I'm not even around, if I'm staying in my
275 |224 |00:56:05,459 ~-~-> 00:56:20,549 |own lane, focusing on my family. And people, it's not fair, I got to deal with you. I haven't done anything. It's not that there's somebody else out there
276 |225 |00:56:20,549 ~-~-> 00:56:29,009 |pretending they created something when they just rebranded something on my core content. Yeah. That's what the ghost is said.
277 |226 |00:56:40,800 ~-~-> 00:56:57,900 |So I'm aware, obviously, I have students, I'm interviewing them, obviously, I have several more I got coming. I was going to do one today, I had asked the
278 |227 |00:56:57,900 ~-~-> 00:57:08,640 |gentleman to let me know if he was gonna be available today, at one o'clock, and obviously, my family took precedence. And I wasn't able to confirm that. So I'll
279 |228 |00:57:08,640 ~-~-> 00:57:18,210 |have to do that next week. But I have three of them scheduled next week for a sit down and recording. So I'll stagger them going into the future, releasing
280 |229 |00:57:18,210 ~-~-> 00:57:28,140 |them, but they all know that there'll be sitting with me talking. And they've done things like lease funded accounts. And they've made money. So what I'm
281 |230 |00:57:28,140 ~-~-> 00:57:42,240 |saying here, don't let it discourage you, if that's what you're doing, or plan on doing. But I think that if you are going to go that way. One contract, one
282 |231 |00:57:42,240 ~-~-> 00:58:09,780 |contract, is all you need to do. If if you can't lose 3000 hours, that's your max loss. And each point or handle in the ES is $50. If you're trading with more
283 |232 |00:58:09,780 ~-~-> 00:58:26,340 |than one contract, you are exponentially increasing the rate of impossibility for you to succeed long term. Because you're willing to take on the larger risks
284 |233 |00:58:26,340 ~-~-> 00:58:42,150 |because the payouts are better, and get more money faster. Well, that could happen. That could happen. I'm not saying it can't. But what also could happen
285 |234 |00:58:42,840 ~-~-> 00:58:56,490 |is you could be human, you could be a little off on the day. And the market could also behave just a little bit squirrely do something just a little bit
286 |235 |00:58:56,490 ~-~-> 00:59:10,890 |unexpected in color outside the lines that you thought it was going to stay within. In data you chose to do 10 contracts, stings, and takes a little bit of
287 |236 |00:59:11,160 ~-~-> 00:59:27,780 |your backside off. And then you got to correct all that. It now becomes, oh, I'm further away from the finish line. Now I gotta fix this. Whereas if you trade
288 |237 |00:59:27,780 ~-~-> 00:59:43,800 |one contract, regardless of what size account funding you have one contract that's a lot of wiggle room. If you only lose 3000 You're trading with one
289 |238 |00:59:43,800 ~-~-> 00:59:54,480 |contract. You can be horrible in your precision. As long as you're right on your draw and liquidity and you're trading in the right time of day. You can still
290 |239 |00:59:54,510 ~-~-> 01:00:08,970 |eke out profitability. You don't need precision. But you did You have to have precision, like my level of precision. If you're trying to trade, eight
291 |240 |01:00:08,970 ~-~-> 01:00:24,060 |contracts or more, and you can only lose 3000 Or you burn it most of you listening aren't in that skill set. And that's not a knock against you and me
292 |241 |01:00:24,060 ~-~-> 01:00:43,230 |saying, superior, I'm saying that the parameters that they're trying to place on yourself. You may not be versed in trading, know yourself well enough. And maybe
293 |242 |01:00:43,230 ~-~-> 01:00:51,510 |not even be able to do a precise entry, continuously over and over and over again, because you haven't done it long enough. You haven't identified when it's
294 |243 |01:00:51,510 ~-~-> 01:01:00,990 |not likely to be as precise as you would hope for, which is what I'm trying to teach this year by mentoring with live data, teaching you how to read the tape.
295 |244 |01:01:03,870 ~-~-> 01:01:14,220 |So why would you? Why would you want to increase the likelihood of burning everything down? Just to have one good, quick run, I got to step two, real fast.
296 |245 |01:01:15,000 ~-~-> 01:01:28,440 |But well done. You gambled? Well done. A lot of people that go to Vegas, and they make money. That doesn't mean they were skilled. You want everything that
297 |246 |01:01:28,440 ~-~-> 01:01:44,160 |you're doing in this industry in this endeavor, this pursuit of excellence in trading, to be that very focused, they're excellent. In excellence. You want to
298 |247 |01:01:44,160 ~-~-> 01:01:58,410 |be able to focus on being good at what you're doing, not showing up at the right time. And getting lucky. You don't want happenstance, you don't want coincidence
299 |248 |01:01:58,410 ~-~-> 01:02:10,590 |to be the common denominator in your success. That's not what you want. But if you're being honest with yourself, that's what you're asking the universe and
300 |249 |01:02:10,590 ~-~-> 01:02:23,310 |fate to come in to your favor. When you're over leveraged, just trying to get through to step one. That's enough Washington do of Washington, push and push
301 |250 |01:02:23,310 ~-~-> 01:02:38,010 |and push and just try to get there real fast. Because it took him longer. He's speeding up more intensity, and more fever to do everything backwards still.
302 |251 |01:02:40,110 ~-~-> 01:02:54,750 |Because panic is set in. And I just want to remind him today that there's no reason to feel that way. Think about you're gonna pay this monthly do to
303 |252 |01:02:54,750 ~-~-> 01:03:10,770 |whatever that company is. So why not just give yourself the full month? Does that make you a bad trader? Does it make you less of a trader than someone else?
304 |253 |01:03:12,600 ~-~-> 01:03:22,680 |Who cares how long it takes them to do it? And what they think that it should take you to do it. Because when you get funded, and if you make money, and you
305 |254 |01:03:22,680 ~-~-> 01:03:34,500 |do whatever those profit splits are, which I don't even know what the profits? It's, I don't know. But whenever that is, and whatever that payout is you get?
306 |255 |01:03:36,270 ~-~-> 01:03:42,090 |Are you going to listen to that same person that's telling you what you should do? How you should do how fast you should do it? Are you gonna let them tell you
307 |256 |01:03:42,090 ~-~-> 01:03:53,670 |how to spend it? No. So why are you going to listen to them when they tell you what you should be doing to get through a specific timeframe or duration, or
308 |257 |01:03:53,670 ~-~-> 01:04:04,380 |model or approach to doing so. All these things are distractions. They're all ways to keep your eye off of what it is you're trying to do, which is fine
309 |258 |01:04:04,380 ~-~-> 01:04:22,440 |consistency. Stop burning down things and receive Beauty for Ashes by doing what you're supposed to do. And focusing on that. Not trying to rush it not trying to
310 |259 |01:04:22,440 ~-~-> 01:04:34,920 |add 20 funded accounts. This is start with one. Let's just start with one trading with one contract. giving yourself time is okay. I know some of you are
311 |260 |01:04:34,920 ~-~-> 01:04:49,950 |thinking Wait, wait, wait, wait, wait, wait Michael, wait, wait, wait, man, wait. Listen. You said one contract, but they're asking for 400 bucks a month.
312 |261 |01:04:51,120 ~-~-> 01:05:03,300 |Come on, man. I can't get rich on that. They're in my pocket. They're going to be taking a portion of the profits split on top of that. Do it ain't worth it,
313 |262 |01:05:03,300 ~-~-> 01:05:24,180 |then it's not. You have to turn these odds around and place them in your favor. You got $3,000 3000 hours, draw down with one contract. That's a lot of wiggle
314 |263 |01:05:24,180 ~-~-> 01:05:39,720 |room. It's very forgiving. And to make 400 hours over the course of a month, with one contract is easy. See, you don't know it. Because you're trading with
315 |264 |01:05:39,750 ~-~-> 01:05:47,700 |larger leverage every time you're trying to do these combine to get through it real quick. Because you probably told yourself, I'll break all these rules to
316 |265 |01:05:47,700 ~-~-> 01:05:57,390 |get through it. I'll trade with five contracts, I'll trade with eight contracts, just accelerate my way through step one. But when I get to step two, I'm going
317 |266 |01:05:57,390 ~-~-> 01:06:09,660 |to be a good boy. I'm going to trade with no more than two contracts. Because it would be silly for me to lose that to funded by over leveraging, but you're not
318 |267 |01:06:09,660 ~-~-> 01:06:24,210 |using that same logic going through the first part of it. Silly isn't. And this is really no different than what people do with their live accounts. Before they
319 |268 |01:06:24,210 ~-~-> 01:06:30,720 |even send the money to the broker, they're gonna, I'm going to follow all the rules. I'm going to do this, I'm going to do that. As soon as the accounts
320 |269 |01:06:30,720 ~-~-> 01:06:34,980 |opened up, and you had the first losing trade. Oh, went out the window.
321 |270 |01:06:37,139 ~-~-> 01:06:47,759 |What do you say the casino never closes? That's exactly what I'm here for. Push it was the most contracts, I can trade. That's what we're doing. All logic goes
322 |271 |01:06:47,759 ~-~-> 01:07:02,399 |out the window when you're using real money. Which is why I tell you, you have to be bored with the results in demo six months. If you just do it for a month,
323 |272 |01:07:02,789 ~-~-> 01:07:17,459 |you're not really desensitized. You're not conditioned. You're not initiated. You just dabbled. That's equivalent to anybody else. It starts in forex or
324 |273 |01:07:17,459 ~-~-> 01:07:24,089 |trading. And they use a demo account. Oh, well, I could have made my like, that sounds like a plan, oh, let's go ahead and just put five hours 10,000 hours into
325 |274 |01:07:24,089 ~-~-> 01:07:37,889 |an account, I'm probably going to make money. It doesn't work like that does it? Suddenly, there's a scorecard. It has $1 Sign right in front of it.
326 |275 |01:07:43,380 ~-~-> 01:08:01,470 |You don't want to do all the wrong things multiple times. And realize over the course of a month, none of the things that you did panned out. None of them
327 |276 |01:08:02,010 ~-~-> 01:08:20,100 |resulted in step two funded. That's frustrating. You trade with one contract. I don't care who you see life getting making money. You don't know. If they're
328 |277 |01:08:20,100 ~-~-> 01:08:30,960 |resetting accounts, you don't know, if they're really trading with a funded account or trading with a practice account. He took trades, he thought he was in
329 |278 |01:08:30,960 ~-~-> 01:08:43,740 |the compound account. And turns out it was in a practice account that he didn't ask for. He did a reset early on. And then when he logged back in, it apparently
330 |279 |01:08:43,740 ~-~-> 01:08:52,620 |defaulted to a practice account. So he was working with that account, made a little bit increase and come to realize none of that was even going towards the
331 |280 |01:08:52,620 ~-~-> 01:09:02,670 |combine. So you can imagine he was little torqued up about that. I mean, I did everything I could not to laugh, but you know, it is what it is. I mean, you're
332 |281 |01:09:02,670 ~-~-> 01:09:14,610 |gonna do silly stuff. Sometimes. In the past, I pressed by when I wanted to do so. You're gonna get this or you're gonna do silly stuff. Okay. But imagine
333 |282 |01:09:14,610 ~-~-> 01:09:30,990 |doing work, thinking you've gained some ground. And it wasn't your Live account. It was in a demo, that type of thing, right. So I think he's learning that all
334 |283 |01:09:30,990 ~-~-> 01:09:48,000 |the things he's trying to do aren't going to work. And I'm hoping that this coming week he'll get hammered more. And finally they say that's it. I can't do
335 |284 |01:09:48,000 ~-~-> 01:10:00,690 |it this way. I'm only going to do what you said. And now he's satisfied I'll be happy because I know that will yield him what he needs to be hauled back,
336 |285 |01:10:02,280 ~-~-> 01:10:13,650 |improve and repair what he's done to himself, and then replace it with positive reinforcement. And all that little bit of stuff he's done to himself will be
337 |286 |01:10:13,830 ~-~-> 01:10:27,300 |just enough to remind him not to do it. Just a little bit of scar tissue just a little bit. That's healthy. But when you constantly just keep going, I have
338 |287 |01:10:27,300 ~-~-> 01:10:38,700 |students that came to me that tried to do other people's way of trading and such. And they've spent like 8000 $10,000, in all of these funded account
339 |288 |01:10:38,700 ~-~-> 01:10:51,720 |companies, hopping from one to the next and just paying all these things and never one time got to a point where they could be in a position to be funded. So
340 |289 |01:10:51,720 ~-~-> 01:11:00,660 |what's the point of doing this, then you should have just took that money and put it in a live account. Because you basically did the same thing. If you're
341 |290 |01:11:00,660 ~-~-> 01:11:12,030 |not going to follow rules this flush it away anyway. But see, you're tricked. You're thinking it's only 100 bucks. I can take this trade and over leverage it
342 |291 |01:11:12,030 ~-~-> 01:11:20,220 |because if whatever happens, what happens if it works? I'm only really risking $99 That's what you're thinking, right? Because that's exactly what he was
343 |292 |01:11:20,220 ~-~-> 01:11:39,540 |saying. And you are hooked, like crack. I might not win, but I could. It's like the lottery. Everybody's gonna be out there playing these lottery games, like
344 |293 |01:11:39,540 ~-~-> 01:11:54,510 |$400 million for the record. I don't know one of these big games, especially for millionaires, everybody everybody's talking about today. I was going into
345 |294 |01:11:54,510 ~-~-> 01:12:04,170 |seventh lemon. And the lady comes out she goes, Don't worry, I got the winning ticket right here. Like, okay, I didn't ask I'm going in here get milk See you
346 |295 |01:12:04,170 ~-~-> 01:12:26,100 |later. The mindset is, you know, the chances of you winning that is next to zero. So many degrees, it's not winning this put it that way. But people still
347 |296 |01:12:26,100 ~-~-> 01:12:42,030 |pay to play that. Because the idea is, yeah, that odds are so far against me, but it only cost me $1. Now, let's, let's take a step back. Nobody's getting
348 |297 |01:12:42,030 ~-~-> 01:12:55,230 |rich, when at $1 been spent. And he's funding companies aren't getting rich by your measly little $99. But they are getting rich, with the masses that keep
349 |298 |01:12:55,230 ~-~-> 01:13:10,410 |doing that same thing, just like the lottery administration. It's in their damage, to give you the freedom and rope to hang yourself. But they didn't kick
350 |299 |01:13:10,410 ~-~-> 01:13:25,050 |the chair out from underneath you. So they're not the bad guy. They laid a single round of ammunition on a table in front of you. They laid an empty hand
351 |300 |01:13:25,050 ~-~-> 01:13:39,840 |gun on the table in front of you. They made this Russian Roulette available for you to play, but you decided to pick the ball up. You placed it in the chamber,
352 |301 |01:13:40,110 ~-~-> 01:13:57,360 |you spun it and put it to your head. Whose fault is it when you pull the trigger? What consequence and result after you pushing that trade doing that
353 |302 |01:13:57,360 ~-~-> 01:14:12,480 |thing that you did? Who's going to have the responsibility when that trigger is pulled? Not them. Their hands are clean. They're getting paid. And they don't
354 |303 |01:14:12,480 ~-~-> 01:14:21,090 |care if you go away because there's going to be someone else that's going to jump in there spot your spot, everyone else's spot that says I'm tapped out I
355 |304 |01:14:21,090 ~-~-> 01:14:22,200 |can't afford to pay anymore
356 |305 |01:14:30,570 ~-~-> 01:14:43,650 |that same eye might not win. And there's a lot of things saying I can't likely succeed doing this. But if I win, I can get through the step one faster. Like
357 |306 |01:14:43,650 ~-~-> 01:14:57,780 |that's somehow going to change your level of discipline. Personal responsibility. And now you're gonna suddenly follow the rules. You won't
358 |307 |01:14:58,710 ~-~-> 01:15:12,450 |because now you're gonna say Well listen, I just took 10 contracts. And I made 1500 bucks on three handles was in like, seconds. It only took me seconds to do
359 |308 |01:15:12,450 ~-~-> 01:15:36,990 |that. Let me just go near with my live stage to fund that account. I can just do that every day. That's not the model. That's not the model. You're gonna make
360 |309 |01:15:37,080 ~-~-> 01:15:58,530 |every excuse to do the wrong things. Like a married man caught the eye of another woman that he knows he should not talk to him. He knows where he's at.
361 |310 |01:15:59,340 ~-~-> 01:16:06,780 |He's making excuses. Honey, we need bread. Now, I got bread today. All right, well, I mean, I'm gonna go get some soda. What do you need soda for I don't, I'm
362 |311 |01:16:06,780 ~-~-> 01:16:16,380 |thirsty, you're doing anything you can to get a house to go find yourself in the position to be in that step two funded position where you can over leverage and
363 |312 |01:16:16,380 ~-~-> 01:16:18,780 |play Russian roulette with a hoochie mama.
364 |313 |01:16:24,150 ~-~-> 01:16:38,910 |That's human nature. That's a character flaw. You're inviting chaos, you're asking for it. In this case, you're buying it, you're paying for it. And while
365 |314 |01:16:38,910 ~-~-> 01:16:42,630 |they may make available all these things
366 |315 |01:16:48,030 ~-~-> 01:17:00,600 |if you don't do the right thing, by having less leverage, don't give them the opportunity to see you fail so quickly and easily. Because they know the
367 |316 |01:17:00,600 ~-~-> 01:17:10,260 |majority of you are going to over leverage. They know you want to get to the part that makes money. And they have a 90% likelihood that you aren't never
368 |317 |01:17:10,260 ~-~-> 01:17:18,660 |getting there. And even if you did, and you get lucky, maybe one payout was great, great. You agree it's going to tap you there and say okay, I need to make
369 |318 |01:17:18,660 ~-~-> 01:17:38,640 |more. Or I need to go quicker this time. All they had to do is sit back and let circumstances be what they are. recklessness and chaos shows up. And for a
370 |319 |01:17:38,640 ~-~-> 01:17:51,060 |period of time, for those that are getting lucky with it. Ego ego is going to be that friend that leads you to ruin, I'm always going to be able to make money
371 |320 |01:17:51,060 ~-~-> 01:18:15,420 |now. Look at me. We are. And unfortunately, that kind of mindset leads to ruin. too, don't invite it. Don't make it about a spectacle. Don't make it about over
372 |321 |01:18:15,420 ~-~-> 01:18:39,240 |the top types of results or olympic size feats or speed at which you get the stage to take your time, relax. Just relax. One day, one day like today anybody
373 |322 |01:18:39,240 ~-~-> 01:18:53,670 |that uses what I'm teaching could get funded to stage two in a day like today with one contract. That's not impossible. One, one contract I could have been
374 |323 |01:18:53,670 ~-~-> 01:19:10,920 |done today. But you're looking at a move like today. And you're thinking if I had five contracts here, and five contracts here and five contracts there. Yeah,
375 |324 |01:19:10,920 ~-~-> 01:19:24,450 |he could have it could have been like that for you. But do you have that experience yet? Probably not. So don't have your expectations so high and lofty,
376 |325 |01:19:25,080 ~-~-> 01:19:36,870 |where it's easy for you to fall in not feel like you can do it. In other words, Don't set yourself up for more than just a temporary failure because trading
377 |326 |01:19:36,930 ~-~-> 01:19:49,560 |traders and trading is a lifetime of failure. How you deal with that? I asked that question on my interviews now. Yeah. How do my students that are funded and
378 |327 |01:19:49,590 ~-~-> 01:19:59,520 |consistently making money? How do they deal with losing? Everybody does something different. Some people take it harder than others, other people so you
379 |328 |01:19:59,520 ~-~-> 01:20:10,230 |know It sucks, but I ain't worried about it, I'm going to do the next trade because that trade didn't lose enough for me to feel like I've been beaten. Now
380 |329 |01:20:10,230 ~-~-> 01:20:17,490 |contrast that with I'm not going to stick to a model. I'm going to over leverage, I'm going to keep pushing and pushing and pushing because it only cost
381 |330 |01:20:17,490 ~-~-> 01:20:38,340 |me $99 To reset. Are they the same? The same thing? No. The trader that has a model is taking very small calculated risks, that sometimes does not pan out in
382 |331 |01:20:38,340 ~-~-> 01:20:49,410 |that small loss is insignificant in the grand scheme of their entire career as a trader as a speculator, and they're not worried about trying to avoid the losing
383 |332 |01:20:49,410 ~-~-> 01:21:02,760 |trade. Because the model and the rules say, do this. And this is what should happen. If it doesn't, you're not abandoning that model, because it didn't pan
384 |333 |01:21:02,760 ~-~-> 01:21:16,230 |out for you that transaction in the loss was insignificant, it will not have such a weight on your psyche. So that way, when you look at price action, you
385 |334 |01:21:16,230 ~-~-> 01:21:27,720 |won't be thinking is this is generally in other times, this is a trade I will be taking. But I'm going to wait for confirmation now. Because I have to make sure
386 |335 |01:21:27,870 ~-~-> 01:21:42,930 |why. Why would you feel that because you've taken a loss that's larger than you were comfortable with. If you're trading with a, quote unquote, $150,000
387 |336 |01:21:42,930 ~-~-> 01:21:59,070 |account, and you're using a five handle stop loss on one contract, you're risking What $250. That's not 3000. That's a very, very small, insignificant
388 |337 |01:21:59,070 ~-~-> 01:22:19,320 |amount. So it gives you wiggle room. Ma five handles for over the course of week, lots of them. Some form at specific times of the day, that are very
389 |338 |01:22:19,350 ~-~-> 01:22:36,990 |predictable. You don't trade 30 minutes before midnight, in New York local time, because you're done playing Xbox Live with your buddies. And now let's go see if
390 |339 |01:22:36,990 ~-~-> 01:22:52,170 |I can do something in the market. Don't Don't do that. You have business hours, you stick to him. Bank of America, he's not open 24 hours a day they have
391 |340 |01:22:52,170 ~-~-> 01:23:08,400 |banking hours. You don't want to create this atmosphere in your trading. Where you feel like you have to always know what the next move is gonna be. Narrative
392 |341 |01:23:08,400 ~-~-> 01:23:25,710 |is understanding what the algorithm is going to do in price. Next. It is not an every second of the day narrative. The narrative is when we go into New York
393 |342 |01:23:25,710 ~-~-> 01:23:38,280 |session during this period, I'm looking for the algorithm to do a specific thing. behave a certain way. present an opportunity, like the fair ageia drawing
394 |343 |01:23:38,280 ~-~-> 01:23:49,350 |to liquidity. That's a simple rule based idea. It's time based. Why would you want to complicate that? There's nothing easier than that. There really is
395 |344 |01:23:49,350 ~-~-> 01:24:03,420 |nothing easier though, as you can just follow a Moving Average crossover. Okay. What timeframe? What's your entry mechanism? Where's your stop? What are you
396 |345 |01:24:03,450 ~-~-> 01:24:15,690 |reaching for? What's the target? See, yeah, I can play devil's advocate just like anybody else. And I can say something. And when I've said it, you have the
397 |346 |01:24:15,690 ~-~-> 01:24:22,170 |luxury of coming back and saying, but what about this? And what about this? What about this? So I can't do all that by sitting in front of you with a live one
398 |347 |01:24:22,170 ~-~-> 01:24:34,470 |minute candlestick chart. And I tell you what's going to happen next. So all those other strawman arguments can't be used. We're all looking at the hard
399 |348 |01:24:34,470 ~-~-> 01:24:54,180 |right edge. And you don't want to take these perfect opportunities to do all the wrong things. waste time, waste money, build up frustration. And now fear. Fear
400 |349 |01:24:54,750 ~-~-> 01:25:05,940 |when you first want to learn how to trade were you scared? Now, I mean, obviously you said, Well, you know, sometimes you might lose money. But let me
401 |350 |01:25:05,940 ~-~-> 01:25:13,380 |look into it further and see what's happening. Because you're convinced that he looked hard enough, you would find a way to never lose money. Let me remind you,
402 |351 |01:25:13,380 ~-~-> 01:25:24,270 |that doesn't exist. But when you first started, and you wanted to get into this industry and find out more about it, you feel like a child on Christmas Eve,
403 |352 |01:25:24,390 ~-~-> 01:25:34,320 |like you couldn't wait to get more involved. And that's what it's like, when students come to my YouTube channel, they get their hands on something like
404 |353 |01:25:34,320 ~-~-> 01:25:44,970 |model 2020, which is hit the ground running. Approach, if you if you're brand new, you've never gone through any of my videos. 2022 model, there's 40 videos,
405 |354 |01:25:45,540 ~-~-> 01:25:57,780 |that's where you start. Because that right there will give you a 100%. Right now, drill into the charts and see it every day. You'll you don't need to know
406 |355 |01:25:57,780 ~-~-> 01:26:08,280 |anything about price action. Everything that's discussed in that 14 video series will give you enough to know that if that doesn't convince you that there's
407 |356 |01:26:08,910 ~-~-> 01:26:17,970 |worth and value in what I'm teaching. If you don't see there, don't waste any more time with me. Just move along, find somebody else. And I wish you good luck
408 |357 |01:26:17,970 ~-~-> 01:26:29,370 |with it. I promise you, if you don't see the value in those 40 videos, that communicates precision, time based ideas, things that repeat a logic of knowing
409 |358 |01:26:29,370 ~-~-> 01:26:38,970 |where to get in, where's your stop loss? Where do you take partials? Where is your target done. That's a complete 100%. Everything you're looking for, when
410 |359 |01:26:38,970 ~-~-> 01:26:44,790 |you buy a course, everything you're looking for when you join a mentorship, everything you're looking for, if you're trying to buy a book that supposedly
411 |360 |01:26:44,790 ~-~-> 01:26:45,600 |touch at a trade.
412 |361 |01:26:47,310 ~-~-> 01:26:56,670 |That's everything, it's a one stop one shop, here it is. And if you liked that, and you want to dig deeper, then go on the core content and all the other
413 |362 |01:26:56,670 ~-~-> 01:27:04,500 |lessons I have on YouTube channel, at whatever pace in whatever direction you want to go. Because you'll have something that you're going into the charts back
414 |363 |01:27:04,500 ~-~-> 01:27:17,040 |testing and looking and studying, whether it be in old moves or real time. Because that 2022 model is perfect. It's pure, it's easy, may not be easy for
415 |364 |01:27:17,040 ~-~-> 01:27:24,630 |you and you're brand new, because there's a lot of things you have to understand. But spend time with it. And you'll see right away that that is the
416 |365 |01:27:24,630 ~-~-> 01:27:35,430 |easiest, easiest thing there is in trading. And it checks all the boxes that you would want for precision and algorithmic theory. There's nothing that guess
417 |366 |01:27:35,430 ~-~-> 01:27:46,260 |about its logic. It's not flawed. It's proven it makes money and other people are making fortunes with it now. Yes, it fortunes, six figures, in my opinion,
418 |367 |01:27:46,290 ~-~-> 01:28:00,000 |that's a small fortune. We're not talking about Mickey Mouse, you know, domini wages. That's a significant amount of money is a respectable measure of money.
419 |368 |01:28:01,440 ~-~-> 01:28:10,410 |We're not talking about 1000 hours and 500 hours here and there, which is still in some people's eyes, the table if you made an extra 500 hours a month. And
420 |369 |01:28:10,410 ~-~-> 01:28:23,250 |that's all you could do. Would you say I don't want that 500 hours? No, no, you wouldn't. So it's all about perspective. What you're looking for, you'll find it
421 |370 |01:28:23,250 ~-~-> 01:28:32,250 |here. I'm not going to sugarcoat anything for you. I'm not going to pull any punches, I'm going to tell you, it's gonna be hard. It's gonna take longer than
422 |371 |01:28:32,250 ~-~-> 01:28:45,960 |you want it to. And you're gonna learn in a setting that makes you know, money. That's exactly how you want it. Doctors don't go out there and ask people to
423 |372 |01:28:45,960 ~-~-> 01:28:59,490 |come off the streets and say, I'm studying for my exam tomorrow. Can I cut open your abdomen and remove your spleen? No, that's not happening. They use
424 |373 |01:28:59,490 ~-~-> 01:29:16,920 |cadavers. Okay, so think, do you want a surgeon that has never did any kind of cutting at all on a body to put their scalpel into you? Nobody's gonna feel safe
425 |374 |01:29:16,920 ~-~-> 01:29:27,240 |with that. So what experience do they have if you're the patient one that they're going to now treat your patient want? You don't know this? They're not
426 |375 |01:29:27,240 ~-~-> 01:29:36,600 |saying hey, nice to meet you. Congratulations. You're my first patient. I've never done surgery before. So what time what time? Do you want to come in? No,
427 |376 |01:29:36,600 ~-~-> 01:29:47,760 |I'm out of here. See you later. So why would you expect anything different with your trading? Like you're you're that surgeon in trading? You're that doctor.
428 |377 |01:29:51,090 ~-~-> 01:29:59,970 |I'll have to remind myself about people asking why am I calling everybody doctor? I'll just say next. I don't say it. Now. I'll probably forget about it.
429 |378 |01:30:00,300 ~-~-> 01:30:13,470 |My ninth grade year in high school, I had a civics teacher. One of the coolest cats there was me and he kind of reminded me of Martin Luther King. And he just
430 |379 |01:30:14,730 ~-~-> 01:30:25,560 |was this real smooth man just real, real smooth, came in, smooth. Like he just scooted around, scooted through the hallways, scooted across the classroom.
431 |380 |01:30:26,880 ~-~-> 01:30:44,190 |sharp as a tack, really witty. And every time we would come into his classroom, every gentleman that came in and greeted him, he turned him small, little smirk
432 |381 |01:30:44,190 ~-~-> 01:30:55,620 |Doctor, Doctor Doctor. And that was one of the coolest things I saw. And it made me feel cool. When he would say it to me, and I could see the expression on the
433 |382 |01:30:55,620 ~-~-> 01:31:07,710 |other students got under their face with you, it would cause them to smile. And it resonated with me and it's stuck in my ninth grade year. And now when I greet
434 |383 |01:31:08,790 ~-~-> 01:31:24,060 |my friends or associates that work with me, that's how I do it. It to me is was one of those cool things that I saw someone that I looked up to. And it just
435 |384 |01:31:24,060 ~-~-> 01:31:32,220 |resonated with me. Much like you all try to talk and sound like me, because I've made an impression on you. Well, that's where I came from. So when I'm doing my
436 |385 |01:31:32,220 ~-~-> 01:31:41,820 |interviews, and I'm greeting them, that's where I came, that's where that came from. So anyway, you don't you're going through this process of learning how to
437 |386 |01:31:41,820 ~-~-> 01:31:58,050 |trade your that surgeon in development. So learning how to do this in a condition where you can't cause any harm. The surgeon that's learning how to do
438 |387 |01:31:59,460 ~-~-> 01:32:15,420 |a surgical procedure on a cadaver are they afraid that they're going to put the cadaver in the ground or kill them? Know that body's dead. It's been submitted
439 |388 |01:32:15,660 ~-~-> 01:32:31,590 |to the Department of science. And they're making that body available to do whatever they want to do with it. That's a cadaver. So a surgeon works with a
440 |389 |01:32:31,590 ~-~-> 01:32:41,730 |once living person, but no longer is living, it's expired, that body is lifeless. And they get to have all of the advantages of cutting on a real body.
441 |390 |01:32:43,650 ~-~-> 01:32:56,550 |Feeling the the restrictions of certain types of tissues even with a scalpel. How to navigate inside of the cavity of of an abdomen or ribcage or a brain
442 |391 |01:32:59,340 ~-~-> 01:33:21,540 |without the risk of loss. In trading, you want to learn how to what navigate the marketplace and engage without having loss. Do you think the surgeons first
443 |392 |01:33:21,540 ~-~-> 01:33:35,010 |procedure on a living person, you think they're calm, cool and collected? No. But they're going to lean on all the experience they gathered with cutting on
444 |393 |01:33:35,010 ~-~-> 01:33:46,170 |those cadavers. When they were doing their case studies in textbooks, writing out their ideas. That's not the same, that's you writing out your model. But
445 |394 |01:33:46,170 ~-~-> 01:33:56,940 |then when you go to that cadaver, which is a demo account for paper trading account, you're doing the theory in a setting that can't hurt you or anyone
446 |395 |01:33:56,940 ~-~-> 01:34:07,470 |else. That's proper learning. You're doing it without any concern psychologically or emotionally about the outcome. You're focusing on doing what
447 |396 |01:34:07,470 ~-~-> 01:34:16,860 |the theory suggests you're supposed to what's the process? What's the protocol, you're following that that's your model? Don't let anybody make fun of you, and
448 |397 |01:34:16,860 ~-~-> 01:34:28,170 |make you feel like oh, you know, I'm learning how to do this other demo account. It doesn't matter. Your results are gonna be yours. If your results are going to
449 |398 |01:34:28,170 ~-~-> 01:34:38,340 |be unbelievably successful, there's gonna be a lot of people that say that ain't real, and are you going to care? Are you going to care when you start making
450 |399 |01:34:38,340 ~-~-> 01:34:50,250 |real money? If people don't believe that how you learn was a good or bad way. You don't care. I have more students that aren't on social media, because
451 |400 |01:34:50,250 ~-~-> 01:34:58,920 |they're off doing their own thing now. Look at the young people that are making themselves available to you. And these interviews. They don't have to do those
452 |401 |01:34:58,920 ~-~-> 01:35:09,000 |interviews. they're interviewed by these companies. I don't own those companies. We don't have some kind of conspiracy together. I mean, you heard me talk,
453 |402 |01:35:09,270 ~-~-> 01:35:20,910 |really in very low key anti approach to funded accounts, if he heard what I was saying earlier. Like, I'm, I'm not a fan of them, even though I have profitable
454 |403 |01:35:20,910 ~-~-> 01:35:30,210 |students that use them, I'm not a fan of them. Um, that's why I will never do business with any of them. I will never have an affiliation with them. I will
455 |404 |01:35:30,210 ~-~-> 01:35:41,310 |never say, go and join this funded account in blah, blah, blah. And here's a 20% off type thing. I don't want affiliations. And when I tell you something, it's
456 |405 |01:35:41,310 ~-~-> 01:35:51,780 |my honest opinion. No one has influenced me, they're not paying for my opinion, I will never have my opinion paid for. And I never record. I represent no broker
457 |406 |01:35:51,840 ~-~-> 01:36:03,990 |whatsoever. Period. I'm not introducing broker. Anything I tell you. It's my opinion. And I'm not monetized with that opinion. And that's why Unfortunately,
458 |407 |01:36:04,350 ~-~-> 01:36:16,260 |my opinion isn't liked by a lot of other folks because it infringes on the comfort they hold with their affiliations. And I don't have a problem with them
459 |408 |01:36:16,260 ~-~-> 01:36:29,220 |having their affiliations, this get your money, man. But don't hold me to that same level of well, he must be in partnership with somebody else I'm not. So I'm
460 |409 |01:36:29,220 ~-~-> 01:36:34,800 |out here, sharing my opinion and doesn't mean my opinions, right? That's just my opinion.
461 |410 |01:36:36,690 ~-~-> 01:36:49,110 |You may take something I say, and get a hair off your backside, and say, Well, I'm going to use this as a reason to prove it wrong. And then you create
462 |411 |01:36:49,110 ~-~-> 01:37:03,240 |something entirely new. And that will be amazing. So it's not meant for me to be a reason for you not to do funded accounts. I'm just saying that everything that
463 |412 |01:37:03,240 ~-~-> 01:37:17,940 |I felt most people would encounter, my son's experiencing that. So I'm, in many ways I feel vindicated. And the only way I think he and anyone else will do well
464 |413 |01:37:17,940 ~-~-> 01:37:29,070 |doing it is by never really over leveraging and never really doing that trade with very small number of contracts. Even if they give you the freedom to do
465 |414 |01:37:29,070 ~-~-> 01:37:46,560 |more. Because you're really not trading with $150,000 You're trading $3,000.03 $1,000 is undercapitalized, grossly undercapitalized. And anyone that
466 |415 |01:37:46,560 ~-~-> 01:38:04,800 |says other than that is full of grade a cow patties. It's just the way it is folks. drawdown is a real part of trading. And when you burn your funded
467 |416 |01:38:04,800 ~-~-> 01:38:14,220 |account, and you burn your funded accounts, you'll feel like well, I'm gonna go back in and I'm gonna be a little bit more selective, but I'm not going to
468 |417 |01:38:14,220 ~-~-> 01:38:25,230 |change anything I've done it over leveraging is part of it, you're going to fail. Just give it enough time, you're going to fail. If you listen to my
469 |418 |01:38:25,230 ~-~-> 01:38:40,770 |students and other people that do this, they build up these well, they have like a deck of cards at your disposal. More multiple funded accounts, multiple ones,
470 |419 |01:38:41,730 ~-~-> 01:38:52,890 |because it allows them to have a card to play. When one roasted, when it's burned. They can't use that one anymore. They have something else they can lean
471 |420 |01:38:52,890 ~-~-> 01:39:06,390 |on. How about just have one year one account don't over leverage it. Don't demand more than it's going to pay out. make enough money to go with a company
472 |421 |01:39:06,390 ~-~-> 01:39:19,770 |like amp. Where offers you real trading very, very low margins. My son had experience with that company. And hey, it is what it is, you know brokers
473 |422 |01:39:19,770 ~-~-> 01:39:32,370 |perfect. No broker is going to be perfect. You're going to complain about all of them. But that's the world man like this. You're not going to have a silver
474 |423 |01:39:32,580 ~-~-> 01:39:40,710 |lining. That's seen by everyone and agreement. You're gonna have your favorite things about a broker, and you're gonna have these pet peeves that you don't
475 |424 |01:39:40,710 ~-~-> 01:40:02,460 |like about them. Everybody's gonna have that because they're the middleman but I don't think your best interest is suited For only dealing funded accounts, and
476 |425 |01:40:02,460 ~-~-> 01:40:12,450 |I've said I just don't believe that that segment of our industry is going to be allowed to stay around in the capacity that we have it right now. And that's the
477 |426 |01:40:12,450 ~-~-> 01:40:21,450 |reason why they're doing what they can to get what they can from whoever's willing to give it to him. Because the time is probably limited for them to do
478 |427 |01:40:21,450 ~-~-> 01:40:31,770 |what they're doing. So if you're going to do that, do it the right way, don't over leverage it. Make what you need to cover the costs, and build up enough
479 |428 |01:40:31,770 ~-~-> 01:40:42,360 |money to go with a real broker that allows you to trade with real funds and a real account that allows you to have more drawdown like in the real world,
480 |429 |01:40:42,690 ~-~-> 01:40:59,250 |greater than $3,000. Because $3,000 is nothing, literally nothing. I spent $3,000. This morning, just shopping for things that would never really cost that
481 |430 |01:40:59,250 ~-~-> 01:41:10,200 |much five years ago. But if I want to stock up on stuff, that's what it cost. Now, the 3000 hours in trading, you were really undercapitalized. And you're
482 |431 |01:41:10,200 ~-~-> 01:41:24,930 |paying monthly dues to be undercapitalized. And you can't trade past four o'clock, when Hey, sometimes earnings season, you'll see moves that are after
483 |432 |01:41:24,930 ~-~-> 01:41:35,820 |hours, right? You'll never be able to capture any of that. Now is that a deciding factor that should keep you from going from that accounts? Probably
484 |433 |01:41:35,820 ~-~-> 01:42:00,240 |not. But it's something that a real brokerage account doesn't place a limit on. So just food for thought. I can have him in a stage to fund that account. Like
485 |434 |01:42:00,240 ~-~-> 01:42:16,290 |that. No problem at all. Easy peasy lemon squeezy. But he's going through something. And I have to let the natural order of things push him to a point
486 |435 |01:42:16,290 ~-~-> 01:42:31,560 |where he has to identify what he's doing isn't going to work. And today, I proved that what I teach him when I do does in fact work even even in a
487 |436 |01:42:31,560 ~-~-> 01:42:46,470 |condition where you think that what you're doing will eventually materialize in the outcome you want. You probably don't have the resources, the patience or the
488 |437 |01:42:46,470 ~-~-> 01:43:02,790 |money to keep resetting until that thing unfolds like you hope it will. And he, he won't ever run out of money. What he'll run out of is trust in what he's
489 |438 |01:43:02,790 ~-~-> 01:43:15,420 |doing is going to lead to the result that he's looking for. And I'm trying to let the natural process that everybody goes through. Everybody goes through
490 |439 |01:43:15,420 ~-~-> 01:43:28,890 |this, some more than others, some much harder than others. Some are more stubborn. I was very stubborn. I wanted you. And I've said many times they make
491 |440 |01:43:29,010 ~-~-> 01:43:42,240 |the name streets after me one way. And I wanted to have it my way. My way. And if I'm teaching you, you can't come here and expect me to teach you a different
492 |441 |01:43:42,240 ~-~-> 01:43:54,030 |way than I'm willing to teach. It isn't your your way, mentorship, it's my way. And if you don't like how I teach it, and nothing's keeping you here. And you
493 |442 |01:43:54,030 ~-~-> 01:44:01,290 |can learn how to trade from somebody else. There's other stuff out there that works, just have good money management, I promise, you'll probably still make a
494 |443 |01:44:01,290 ~-~-> 01:44:13,680 |little bit of money which is looking to lose. And whatever you use to to find profits in whatever religious faith you want to place behind whatever it is
495 |444 |01:44:13,680 ~-~-> 01:44:27,810 |you're doing. You're welcome to have at it. The be rich, good luck. But it isn't going to change what I view about the marketplace. In my convictions about what
496 |445 |01:44:27,810 ~-~-> 01:44:38,550 |should be done correctly, and what things shouldn't be done incorrectly. All these things I've developed this opinion over three decades and I'm not going to
497 |446 |01:44:38,550 ~-~-> 01:44:50,580 |listen to some I just started up and they somehow knew more about how I should behave or view the marketplace in their infancy as a couple months in observing
498 |447 |01:44:50,610 ~-~-> 01:44:59,970 |price action are coming from another school of thought and having never really spent the full year in it. But they're not going to they're not going to do
499 |448 |01:45:00,000 ~-~-> 01:45:13,200 |Danger, impact my opinion about what it is I hold about the markets, it won't be like that. For you either it's going to be like, Okay, your opinion, I
500 |449 |01:45:13,200 ~-~-> 01:45:25,710 |understand it, I respect it. But I'm not going to do anything with it. So, there it is. And I'm hoping that what I'm saying here tonight, doesn't discourage
501 |450 |01:45:25,710 ~-~-> 01:45:33,900 |because, like I said, I'm gonna be talking to students that have done funded accounts next week. And you've already seen these individuals that I've already
502 |451 |01:45:33,900 ~-~-> 01:45:44,250 |interviewed. And they're right from my private mentorship. Like they paid me to learn what they do, and had made money with it. I have more of them next week.
503 |452 |01:45:45,870 ~-~-> 01:45:56,820 |If you have learned the 2022 model, and you did not join my private mentorship, which no one can, it's not happening anymore, I should just relax and you were
504 |453 |01:45:56,820 ~-~-> 01:46:06,090 |mentoring just like this. Now. If you've made money, and you've been profitable with your trading, whether it be with your own funds, or through funded account
505 |454 |01:46:06,090 ~-~-> 01:46:14,880 |companies, and you want to be interviewed, I'd love to sit down with you. But it just seems like that I'm only getting my private mentorship students, which
506 |455 |01:46:14,910 ~-~-> 01:46:24,090 |unfortunately, that gives the impression that nobody can be profitable. Like with the 2020 model, which that's not true. It's just
507 |456 |01:46:25,500 ~-~-> 01:46:38,760 |that model really clicked for a lot of my students that were trying to find their own model, and mentorship. When they paid me. I was given them everything
508 |457 |01:46:38,760 ~-~-> 01:46:48,210 |that I was willing to share, as components. But I also taught them how to take each component to build their own model. And for the students that were in that
509 |458 |01:46:48,210 ~-~-> 01:47:01,020 |month, that mentorship, I had a very loose overview, discussed in a commentary about that very model, that was leading people to just do that very thing, like
510 |459 |01:47:01,140 ~-~-> 01:47:09,060 |create that model. So I suggested the pieces, but it didn't put it out there in a step by step by step by step. And if anybody's out there telling you that
511 |460 |01:47:09,090 ~-~-> 01:47:16,530 |they're going to sell you access to videos, where I've done that they're lying to you. Because I didn't do that. In my mentorship students will tell you right
512 |461 |01:47:16,530 ~-~-> 01:47:28,230 |now, on Twitter that I did not do that. I called the market, just like you see me do daily, every single day. I did live streams the first year, doing what you
513 |462 |01:47:28,230 ~-~-> 01:47:36,660 |see me doing in these live streams and the same type of attitude that I got from some students, you still see in the community here, you didn't take any trades,
514 |463 |01:47:36,660 ~-~-> 01:47:43,200 |you talked for two hours, you didn't take any trades, I called all the logic as to why the market should behave a certain way. That's important, you need to
515 |464 |01:47:43,200 ~-~-> 01:47:55,590 |have all that. Otherwise, the entries won't make any sense. You won't know what to reach for. You won't know how to find your model. So opinions, they're always
516 |465 |01:47:55,590 ~-~-> 01:48:09,480 |going to be held by other people, my opinion of funded accounts and those companies that offer them. I am personally not a fan of them. If my son turns it
517 |466 |01:48:09,480 ~-~-> 01:48:22,740 |around, and makes money, I'm still not a fan of it. I'm of the opinion that, yes, most of you that use them, probably don't have the funds to go and do that,
518 |467 |01:48:22,740 ~-~-> 01:48:31,230 |I understand that. But if you're going to do it, do it the right way. So that way you can get something out of it, build up enough scratch money, whatever,
519 |468 |01:48:31,470 ~-~-> 01:48:43,860 |and go with a real brokerage firm, so that way, you know, it's your money, you have control, you're not limited to some unrealistic small little drawdown. Like
520 |469 |01:48:43,860 ~-~-> 01:48:55,800 |it always goes up the same amount. No matter how much you make. It's not increasing. It's always that small, little ultra small stop loss. That's how I
521 |470 |01:48:55,800 ~-~-> 01:49:07,230 |look at it. I look at that as a very, very, very tight stop loss and look at how I teach. I don't teach you to do that do I I don't teach you to hurry up and RAM
522 |471 |01:49:07,230 ~-~-> 01:49:15,180 |that stop loss underneath a profitable position, being fearful that it's going to stop you out. Because it's probably going to stop you out. And you won't be
523 |472 |01:49:15,180 ~-~-> 01:49:25,770 |able to see what the appreciation and equity gone higher. It stops you out too quickly because you're strangling the trade. That's what these funded account
524 |473 |01:49:25,770 ~-~-> 01:49:35,490 |companies do to you. And anybody that wants to say otherwise, you're welcome to your opinion but you're never going to convince me that it's anything but that
525 |474 |01:49:36,540 ~-~-> 01:49:49,500 |they're placing so many odds in your favor of failing. But the market it like this is the greatest advantage in the world. Look at this and look at that. Look
526 |475 |01:49:49,500 ~-~-> 01:50:05,250 |at we do we provide this you don't have the money, use our money. Really that that small altra Small trailing stop loss, maximum trailing loss or some I don't
527 |476 |01:50:05,250 ~-~-> 01:50:17,490 |know how to term it something like that. That is equivalent to a jammed up super tight stop loss in a trend that you're long in, and it's going right below the
528 |477 |01:50:17,490 ~-~-> 01:50:29,820 |last couple ticks. That's what you're doing in these 100 accounts. And when you add more contracts, you're all but Guaran damn tee, when you're getting stopped
529 |478 |01:50:29,820 ~-~-> 01:50:43,350 |out, you're going to break a rule, and you got to pay a reset. It's like getting margin called and you're paying for it. But looking at it, like it's a good
530 |479 |01:50:43,350 ~-~-> 01:50:53,040 |thing. I'm sorry if that ruffles feathers on that. That's not I'm not trying to do that. And there's some people were probably already preparing some kind of
531 |480 |01:50:53,490 ~-~-> 01:51:05,820 |tweet response. You know, this that nothing? It's my opinion. I've watched what's going on in my son's account. I've seen he's broken every rule. And two
532 |481 |01:51:05,820 ~-~-> 01:51:15,990 |of those rules don't make any damn sense to me. You can't trade after four o'clock, dude, what are you talking about? Like if you have a runner, and you
533 |482 |01:51:15,990 ~-~-> 01:51:27,660 |leave a small portion on and it's an earning season, sometimes you have these really sudden boom, like they just, it'll happen. But you'll never have that
534 |483 |01:51:28,110 ~-~-> 01:51:35,430 |ever. If they tell you you got to close a trade at four o'clock, or whatever it is, I don't know, it's like four o'clock, he say did something past four
535 |484 |01:51:35,430 ~-~-> 01:51:47,340 |o'clock. And it was a rule that they said it was broken. And he made money, hypothetically, because it went to his target. But he failed. Now tell me in the
536 |485 |01:51:47,340 ~-~-> 01:51:56,250 |real world, how that makes any sense. That's like the same people out there to argue and say partial profits or, or stupid partial profits are 100% profitable.
537 |486 |01:51:57,840 ~-~-> 01:52:12,120 |Like it doesn't make any sense. Trading is hard enough already. For new traders, it's already hard enough, don't compound the difficulty by forcing your results
538 |487 |01:52:12,210 ~-~-> 01:52:25,260 |to perform in a altra trailed stop loss, which is what leads companies are placing you underneath. They're charging you money to trade in such a difficult
539 |488 |01:52:26,790 ~-~-> 01:52:40,170 |parameter. If you're trying to trade with leverage, the way you beat it is don't don't use the leverage. That's the only way you're going to beat it. One
540 |489 |01:52:40,170 ~-~-> 01:52:52,650 |contract two at most. But one contract, your losses won't be so large that you can't fix them easily even with one contract. And they can't screw you out of
541 |490 |01:52:53,280 ~-~-> 01:53:03,390 |that account that you're working towards getting funded or a funded account. Because that same account, you know, trailed stop loss thing, my understanding I
542 |491 |01:53:03,390 ~-~-> 01:53:14,160 |might be wrong. So I'm open to being corrected here. But it seems like that that never goes away. So you're always going to have this limit of unrealistic
543 |492 |01:53:14,340 ~-~-> 01:53:26,370 |drawdown that completely ends your career, within, you know, a real account with your own money, you're not going to stop because you had a 5% loss. This is the
544 |493 |01:53:26,370 ~-~-> 01:53:38,670 |real, that's not happening, you're going to trade. So it's already making things that are difficult, next to impossible for an impulsive gambler that doesn't
545 |494 |01:53:38,670 ~-~-> 01:53:49,920 |have an idea of how to trade or use a model. And that's why there's such a high rate of failure in that. That's why you don't see a lot of other people out
546 |495 |01:53:49,920 ~-~-> 01:53:55,410 |there being interviewed yet you're seeing people interview, you're seeing people make money, but the ones that are really killing it. They're they're
547 |496 |01:53:55,410 ~-~-> 01:54:06,810 |disciplined. They're not guessing they're not gambling, they're doing things with a model. And they're not trying to blow up the account. Overnight. They're
548 |497 |01:54:06,810 ~-~-> 01:54:15,270 |working towards building up incrementally and outpacing the cost that they know they're gonna have to pay. And they're building up. And I promise you, they
549 |498 |01:54:15,270 ~-~-> 01:54:25,140 |probably have a game plan that they're doing that to take it from there and placing it with a real brokerage firm, which is what they should do. In my
550 |499 |01:54:25,140 ~-~-> 01:54:36,120 |opinion, that's what you should do. Because Tomorrow is not promised to no one in that segment of our industry. That could change overnight. They can say, You
551 |500 |01:54:36,120 ~-~-> 01:54:49,050 |know what, this isn't happening anymore. And they have to comply. Thinking about that. That would be upsetting. Now, what if your frame of trading right now is
552 |501 |01:54:49,050 ~-~-> 01:55:01,950 |only on the basis of funded accounts? And what would happen if they said this is no longer allowed? You got to stop doing it. Shut down all operate shins? How
553 |502 |01:55:01,950 ~-~-> 01:55:12,360 |would that impact your trading and your ability to make money? Hmm, something to think about. So, anyway
554 |503 |01:55:18,869 ~-~-> 01:55:31,199 |I really wanted to sit down and have like a kumbaya moment, you're sharing a personal thing that you would never know about, like, I didn't need to tell you
555 |504 |01:55:31,199 ~-~-> 01:55:41,969 |about my son. You don't need to know about that. It's not your damn business. But it's useful as a mentor, because I'm showing you that if you do all the
556 |505 |01:55:41,969 ~-~-> 01:55:53,729 |wrong things, no matter who you are, what pedigree you come from, you're still not going to see the results you want. And I'm showing you a side of me that
557 |506 |01:55:56,219 ~-~-> 01:56:04,619 |I'll probably regret it months from now, because it'll be taken out of context. And you'd probably take it out of context, the night or tomorrow, who cares. But
558 |507 |01:56:04,619 ~-~-> 01:56:25,259 |I'm sharing my frustration. Like, I don't know how to fix it. Like I can't, I can't do anything to change, what's not being done, or what's being done. And it
559 |508 |01:56:25,259 ~-~-> 01:56:42,899 |feels very, I feel powerless, you know, in a way where I know my words, and my instructions and my encouragement, are not going to be helpful. He's going to do
560 |509 |01:56:42,899 ~-~-> 01:56:56,969 |whatever he wants to do. And I'm trying to come to terms with that, because they're all grown into their own adult, they're going into their own person. And
561 |510 |01:56:57,689 ~-~-> 01:57:07,529 |while they may have certain characteristics of me, they're all individual. And they all have their own unique qualities that make them who they are, even
562 |511 |01:57:07,529 ~-~-> 01:57:20,849 |though they're my kids, they all have certain quirky little things that make them who they are. And, frankly, I was hoping I was going to have a lot more
563 |512 |01:57:20,849 ~-~-> 01:57:41,489 |influence in at least in this setting. And I'm discovering that my strength in what I thought was going to be my, my influential advantage, to be able to, to
564 |513 |01:57:41,489 ~-~-> 01:57:51,209 |guide them and avoid all the things that I know is problematic and prevent them from having all these problems and struggles and be easier for them to learn it.
565 |514 |01:57:52,259 ~-~-> 01:58:07,379 |It's much like some of you, they just want to do it their way. And I guess, in a lot of ways, I can appreciate it, because that's how I was. But I don't know. I
566 |515 |01:58:07,379 ~-~-> 01:58:21,719 |mean, you sit down, you say that watch this. This is the thing we're following. This is the list of procedures and protocols. And winning, winning, winning now
567 |516 |01:58:21,719 ~-~-> 01:58:32,459 |you do it. Okay, throw the piece of paper out the window. Let's start with a new language. Let's trade a different time of the day. Let's use a different market.
568 |517 |01:58:33,149 ~-~-> 01:58:49,049 |What is going on here? What just happened? Like, who are you? Are you my boy, what's wrong? Who are you you're an imposter. So human nature, you know, it's,
569 |518 |01:58:49,139 ~-~-> 01:59:05,309 |it's a real thing and dad doesn't fix it. You know, ICT isn't enough to overcome it. They have to break themselves. And they have to burn it down enough times.
570 |519 |01:59:05,879 ~-~-> 01:59:18,389 |And then sit there with the ashes in the ashes and come to grips with they were the ones that did it to themselves. They are the ones that are going to have to
571 |520 |01:59:18,389 ~-~-> 01:59:32,489 |come up all that wash themselves. And that's what I had to do. I wasn't spared any of that. And you think that you're going to spare yourself that
572 |521 |01:59:32,489 ~-~-> 01:59:46,259 |uncomfortable. Period. Because you're going to do it to yourself is some time in the future. You're going to eventually trade to not trade to a trade in a
573 |522 |01:59:46,259 ~-~-> 01:59:58,709 |setting that is taking on real monetary risk and or trading in this pseudo environment of a funded account, trying to get funded, where you have something
574 |523 |01:59:58,709 ~-~-> 02:00:06,929 |to lose What do you lose and the money you're putting into it? You got to pay that monthly dues, and you got to pay that reset every time you need to utilize
575 |524 |02:00:06,929 ~-~-> 02:00:21,749 |it. But have you considered for those of you that have done multiple resets over and over and over again, is there a line that you're not going across? I won't
576 |525 |02:00:21,929 ~-~-> 02:00:34,169 |reset seven times, I won't do it a 10 time presenting it, I won't do it after three times three times, I'm done. I'm just gonna have to do something else.
577 |526 |02:00:36,779 ~-~-> 02:00:51,929 |What is that limit for you? Have you considered what it is? Because if you don't have the right mindset, and a predetermined exit strategy, like when do you call
578 |527 |02:00:51,929 ~-~-> 02:01:04,469 |it quits, and say, Okay, this endeavor, this approach to dealing it isn't meeting what I need. And I can't hit that objective. So therefore, I'm going to
579 |528 |02:01:04,469 ~-~-> 02:01:15,449 |stop all funding to it, which is a, that's what an entrepreneur does. They say, I'm not going to waste any more money in this, this is not yielding a return for
580 |529 |02:01:15,449 ~-~-> 02:01:28,289 |me. So I'm not going to water it. Because it's not going to produce any more fruit. So what is it for you that does that? Where's the limit that you won't
581 |530 |02:01:28,289 ~-~-> 02:01:36,899 |cross, there's an there's a number, there's no amount of money that you're willing to invest in it. And when you hit that number, I don't care what video I
582 |531 |02:01:36,899 ~-~-> 02:01:50,189 |make. Or what I do in a live stream, or somebody else does, or whatever they're selling. You we're never doing it again. To Ever think about that. It should be
583 |532 |02:01:50,219 ~-~-> 02:02:00,389 |something you have in mind. Because you shouldn't treat it like a cable TV bill, or your Netflix bill. Ah, you know, I'm just gonna keep making the payment.
584 |533 |02:02:00,689 ~-~-> 02:02:15,059 |It'll happen from one day, you know, I'll eventually get what I need. Maybe. But in reality, some of you, it won't ever happen. And that's what makes me
585 |534 |02:02:15,089 ~-~-> 02:02:24,899 |unpleasant as a mentor, because I'm not gonna sugarcoat it. Some of you want to do this, but you don't want to work for it. Some of you want to do this, but you
586 |535 |02:02:24,899 ~-~-> 02:02:37,109 |don't want to pay for live data. Some of you want to do this, but you don't want to invest the time into it. Some of you want to make money and replace your job.
587 |536 |02:02:38,399 ~-~-> 02:02:53,039 |But you don't want to defer the things that's going to require your time to study your girl money on the weekend. That can't happen. All the weekend, and
588 |537 |02:02:53,099 ~-~-> 02:03:06,599 |over the week, going out to the clubs and hanging out with this one hand that one you should be studying. Some of you ain't gonna work for it. Some of you are
589 |538 |02:03:06,599 ~-~-> 02:03:16,769 |going to say you're going to do it. You're going to talk a good game online with me and other people in the community. And you won't do anything with it.
590 |539 |02:03:21,840 ~-~-> 02:03:33,420 |You gotta you can't pretend you can't go through the process of pretending that you're gonna do it. Pretending and going through the motions on on social media.
591 |540 |02:03:33,420 ~-~-> 02:03:46,920 |Yeah, I'm a trader. I'm a student. I'm a funded trader. I'm this and I'm that. Are you really working? Are you really studying? Are you really trying to prune
592 |541 |02:03:47,460 ~-~-> 02:04:01,050 |all the bad things out of you? That are character flaws. Keeping up with who is doing what on social media? Who's making money today? And how much who had the
593 |542 |02:04:01,050 ~-~-> 02:04:13,290 |biggest drawdown who lost today? These are all things that really don't do anything to make you better. And nobody's keeping score by that stuff. Nobody
594 |543 |02:04:13,290 ~-~-> 02:04:24,690 |cares. Keep all the drama out of it. Whatever it is you're doing in trading, keep it out. That's why I literally cannot wait for this to my older students.
595 |544 |02:04:24,990 ~-~-> 02:04:37,620 |The other day I said I can't wait till November. I'm so drained by social media. I have channels that I follow on YouTube that don't even trade like they're not
596 |545 |02:04:37,620 ~-~-> 02:04:52,380 |trading channels. They're just, well, a lot of different things. I like certain car channels, home setting YouTube channels, and listen to some Christian
597 |546 |02:04:52,920 ~-~-> 02:05:04,830 |channels that you follow things in the news and try to make a parallel to scriptures and things like that. It's funny to see how wrong they are. But to
598 |547 |02:05:04,830 ~-~-> 02:05:18,390 |read the comments section of everyone else's videos, you could be doing something very wholesome. Charged no money, kindness, polite Nereo. And using a
599 |548 |02:05:18,390 ~-~-> 02:05:30,360 |curse word, never talk bad about anybody else. And invariably, you'll see dozens of miserable people in the comment section, attacking the person that's doing
600 |549 |02:05:30,360 ~-~-> 02:05:39,210 |the video saying they should have did this and why aren't they doing that, or they're attacking other people in the comment section that are just being part
601 |550 |02:05:39,210 ~-~-> 02:05:51,000 |of the community. And that's what I'm seeing more of, I'm seeing in, in public. Like I said, this morning, we were out shopping, and the rudeness of people is
602 |551 |02:05:51,000 ~-~-> 02:06:01,860 |off the charts now, madness. And I've always been an introvert, I might not sound like an introvert because I'm talking about something I love, which is
603 |552 |02:06:01,860 ~-~-> 02:06:12,810 |markets and such. But if you were to meet me, in the public setting, you would never identify me as inner circle trader, you would never say, that's that guy.
604 |553 |02:06:14,310 ~-~-> 02:06:33,660 |Because I'm, I'm reserved, I'm quiet. I'm not trying to draw attention to myself. And I see how people are becoming much more toxic. And I want to be my
605 |554 |02:06:33,660 ~-~-> 02:06:45,480 |old reclusive self. In November, like I'm looking forward to that. Because the world's getting uglier. And people are getting very, very agitated over the
606 |555 |02:06:45,480 ~-~-> 02:06:57,750 |smallest things, which means that we're at a boiling point. And I don't want to talk about the topics the last time I did, since I mentioned a specific person,
607 |556 |02:06:57,930 ~-~-> 02:07:12,420 |they killed the stream, and space was ended. And I didn't end it, it was ended. And I've contemplated talking about using my soundcloud account for those types
608 |557 |02:07:12,420 ~-~-> 02:07:21,600 |of discussions. I don't want to put them on here. Because they've already been two times they've done this. And the last time I was on Twitter, the reason why
609 |558 |02:07:21,600 ~-~-> 02:07:31,170 |I left Twitter years ago, is because I was telling everybody in 2019, what we all went through with COVID in the whole world coming to a screeching halt and
610 |559 |02:07:31,170 ~-~-> 02:07:40,290 |all that stuff, I didn't say COVID. But I said, you know, we got something coming bad, it's gonna be worse than 911. And every country is gonna feel it.
611 |560 |02:07:41,370 ~-~-> 02:08:00,960 |And yada yada yada. I was putting up posts, and they weren't letting those posts go through. So that was the first time I ever felt like anything I say, is being
612 |561 |02:08:00,960 ~-~-> 02:08:11,550 |watched by people that can say you're not allowed to say that. And I was the first time I've ever been censored, like I've never felt censorship before. So I
613 |562 |02:08:11,550 ~-~-> 02:08:19,080 |felt uncomfortable with that. I was like, you know, I'm not showing any more attention to myself with this. I said, I'm done. Nobody drove me off of Twitter.
614 |563 |02:08:19,290 ~-~-> 02:08:30,420 |Nobody ever drove me off Twitter, and nobody drove me off now and he won't, I'm scheduling my departure. It's the second Friday of November of this year. That's
615 |564 |02:08:30,420 ~-~-> 02:08:41,490 |when I'm leaving Twitter. My tweets will stay up deleted new tweets. I don't edit, I don't have a payment with Twitter, I can edit my tweets. Everything is
616 |565 |02:08:41,490 ~-~-> 02:08:55,800 |exactly how I made them typos, incorrect, spelling the whole thing. But I don't want to talk about some of the topics that I've done before in the past on this
617 |566 |02:08:55,800 ~-~-> 02:09:09,810 |medium. Because I know it's under new management. But I'm not convinced the management is anything different. It's just another mask. So if I lose this
618 |567 |02:09:09,810 ~-~-> 02:09:26,160 |account, because they say I say too much, or I talk about certain things. One of the one of the concerns I I felt uncomfortable when I learned that the certain
619 |568 |02:09:26,160 ~-~-> 02:09:38,370 |members of the United Nations were actually listening to me on the Twitter feed. And I'm just, you know, a guy that talks about the markets. I'm not I'm not part
620 |569 |02:09:38,370 ~-~-> 02:09:53,340 |of any kind of leadership like that. And why they would be wanting to listen to me. And while they were in my three hour long Twitter spaces, like it would be
621 |570 |02:09:53,340 ~-~-> 02:10:04,530 |one thing to say okay, why is there a lot of people listening this space, but they're in there the whole time. So that was a little unnerving. And then when
622 |571 |02:10:04,530 ~-~-> 02:10:16,080 |I'm talking about things that are not real popular, and then I'm talking about certain subject matters, and then my Twitter space gets terminated. I feel like
623 |572 |02:10:16,080 ~-~-> 02:10:26,190 |I'm back in that same spot again. So I'm not going to talk about those things here. I can talk about that kind of stuff on my SoundCloud, and it's not
624 |573 |02:10:26,190 ~-~-> 02:10:34,650 |monetized. So it's not like me saying, come over here, so I can make money. I'm not making money off of this. I want to do these things I want to talk I want to
625 |574 |02:10:35,040 ~-~-> 02:10:46,260 |give you my opinion, number one, it's first and foremost, that's all it is. But also kind of want to guide you through the growth, and the growing pains that
626 |575 |02:10:46,260 ~-~-> 02:10:55,740 |you're going to go through, doing what it is that we do, learning something that's really incredibly difficult. And you have to submit to a lot of time, a
627 |576 |02:10:56,010 ~-~-> 02:11:11,610 |lot more time than you want to put through. Initially, when it's a medium with SoundCloud, if they were to shut that down, I don't care. I don't care. But I
628 |577 |02:11:11,610 ~-~-> 02:11:25,140 |have a voice hear it on Twitter, that I want to keep until the end of the year in November. That that medium I want to keep. So that way, everything I said
629 |578 |02:11:25,920 ~-~-> 02:11:37,710 |it's archived here, it's public. Everybody can see what I called everyone that can see what I was looking for real time. You can't hide it, I haven't deleted
630 |579 |02:11:37,710 ~-~-> 02:11:48,000 |anything and nothing has been changed. And nothing has been hidden from you. There wasn't a plan a plan B, it's all here. The last time I left Twitter, I
631 |580 |02:11:48,000 ~-~-> 02:11:57,990 |told everybody a week in advance, I said, I'm going to be removing my Twitter account. If you want any my tweets you have until Saturday to copy them. I
632 |581 |02:11:57,990 ~-~-> 02:12:08,850 |didn't just pull the plug. I'll let everybody know this is the way it is. When I shut down my mentorship, I said you have this many months to collect what you
633 |582 |02:12:08,850 ~-~-> 02:12:26,460 |want. Because it's done. I didn't pull the plug like that. I'm telling you, when I'm done teaching, it's the second Friday, in November of 2023. On I'm telling
634 |583 |02:12:26,460 ~-~-> 02:12:38,190 |you when I'm stopping. So everything has always been this way. I've always done these things. But I don't feel comfortable talking about some of the things I
635 |584 |02:12:38,190 ~-~-> 02:13:00,300 |felt I would be able to do, because it was under new management on Twitter. And you know, I don't, I don't view myself as someone that would be someone that
636 |585 |02:13:00,300 ~-~-> 02:13:17,040 |wouldn't be worth messing with. I'm just a simple guy. I got a very, very good skill set that I'm trying to share. And I'm trying to do it for free. And I'm
637 |586 |02:13:17,040 ~-~-> 02:13:21,510 |trying to do it in a way where I can find it fun.
638 |587 |02:13:22,800 ~-~-> 02:13:33,690 |It provides me a sense of satisfaction to stop people that have ripped off my content, and tried to market it as their own. Because now they can see that I'm
639 |588 |02:13:33,750 ~-~-> 02:13:44,070 |the person that put that out there. And you all had the advantage of being with me for free and see if it's worth your time and investment in it. If it's not,
640 |589 |02:13:44,610 ~-~-> 02:13:59,730 |no harm, no foul, good luck with whatever you do. But I don't want to put myself in a situation where that I'm just gonna say it. Some dude on Twitter, posted
641 |590 |02:13:59,730 ~-~-> 02:14:16,950 |something about a candidate in 2016. And he's facing 10 years in prison for something that wasn't really all that big of a deal. In my opinion wasn't. And
642 |591 |02:14:16,980 ~-~-> 02:14:28,650 |we can't make a joke about anything. Like you can't joke about certain things. You can't say certain things. And to me, we don't have freedom of speech. If
643 |592 |02:14:28,650 ~-~-> 02:14:45,240 |that's the case, certain speeches aren't free. You're free to say whatever you want, but be prepared to accept the consequences of your free speech. So I'm not
644 |593 |02:14:45,240 ~-~-> 02:14:58,890 |going to use this medium to talk about the things that in the past I use this medium for. So without losing my voice to you about prompting you real time and
645 |594 |02:14:58,890 ~-~-> 02:15:07,770 |being like I'm afraid and I can send you a text message. Like when I post a tweet, and you're following me on Twitter, it's just the same as if I had your
646 |595 |02:15:07,770 ~-~-> 02:15:17,700 |personal phone number. And I sent you a message, hey, look at IES at this minute. This fire I got is like we're best friends. We've known each other for a
647 |596 |02:15:17,700 ~-~-> 02:15:30,420 |long time, and I have your number. And I'm sending you a text message. I like that access to you. Because it's immediate, it's real time. And if I talk about
648 |597 |02:15:30,420 ~-~-> 02:15:41,340 |something here, and I know, some of you really want me to ramp that part of what I do up, I don't want to do that. Because it's getting, we're getting to
649 |598 |02:15:42,900 ~-~-> 02:15:53,700 |Orwellian levels. And I don't want to be a voice that they say, Yeah, this guy needs to be tapped. And he needs to be told he can't do that anymore in a really
650 |599 |02:15:54,090 ~-~-> 02:16:04,740 |convincing way. Like, I don't need to do that. Like I already see what's coming. And all those things that other people are enduring. I have other things I had
651 |600 |02:16:04,740 ~-~-> 02:16:14,130 |to do. I don't want to be bothered with all that crap. Now, I've already mentioned this stuff, you know, in 2016, I already laid all this stuff out and
652 |601 |02:16:14,130 ~-~-> 02:16:24,030 |said what we're dealing with right now. It's happening. All that stuff I talked about, and everyone made fun of me. And I didn't fully understand why I was
653 |602 |02:16:24,030 ~-~-> 02:16:40,050 |saying what I was saying at the time. But it's all it all came to pass. And is coming to pass right now. Like we're seeing all this stuff. And I don't have an
654 |603 |02:16:40,050 ~-~-> 02:16:56,940 |answer for it. Like I know some of you have this real high and lofty opinion of me. I don't know. Like, I have no idea where to put the money I have. Because if
655 |604 |02:16:56,940 ~-~-> 02:17:11,340 |things go where I think it's going, it's going to affect everybody and I don't believe crypto is the answer. And then some of your primary or sudden you're
656 |605 |02:17:11,340 ~-~-> 02:17:23,730 |typing out the tweet and put it in Bitcoin, put it in a theory and put it in XRP and expert XRP is gonna be different whatever. But buy, go buy silver buy this
657 |606 |02:17:23,730 ~-~-> 02:17:38,850 |buy that, you know, my trust is not in money. I don't have all the answers. The things I know about I talk about, if I don't know something, I'm not going to
658 |607 |02:17:38,850 ~-~-> 02:17:52,710 |talk about it, I'm not going to pretend that I do. Which makes me a boring kind of guy. And that's fine. I don't claim to know everything. But the things I talk
659 |608 |02:17:52,710 ~-~-> 02:18:01,980 |about. I feel like I'm an authority figure on it. Otherwise, I'm not going to talk about that's why I sound arrogant because it's really from a position and
660 |609 |02:18:01,980 ~-~-> 02:18:11,520 |stance of authority. I know what I'm talking about. I show you I prove it to you. You see that logic coming to pass in the charts. It's real time rate to the
661 |610 |02:18:11,520 ~-~-> 02:18:25,110 |second rate to the minute rate than in there but all this stuff that's coming down the pike without getting into too many details I mean if you just take a
662 |611 |02:18:25,110 ~-~-> 02:18:48,750 |look it's it's coming they're not hiding it now your sense of freedom is about to be redefined. And I'm not sure that direction is something that we want to be
663 |612 |02:18:48,750 ~-~-> 02:19:05,910 |going in there's a lot of tension in the world there's a lot of anger building up and that's going to increase and social media presents the perfect
664 |613 |02:19:06,060 ~-~-> 02:19:19,620 |opportunity for two opinions to come together and where it would have been fun in the past to rib another guy or girl and make fun of them and everybody
665 |614 |02:19:19,620 ~-~-> 02:19:34,650 |laughed about and it's you know what it is trolling? I was a troll. I was a troll I don't want to do that now because the consequences that they're placing
666 |615 |02:19:34,680 ~-~-> 02:19:46,950 |on simple little gags simple little things that needed the ribbon other person or make fun of someone else or make light of something. They've turned it into a
667 |616 |02:19:46,950 ~-~-> 02:19:57,420 |federal offense now. Now No, no, you're you're talking about they did this and they did that. I know. Their argument is going to be in relationship to the with
668 |617 |02:19:57,420 ~-~-> 02:20:14,610 |a guy who's facing federal charges for 10 years in prison for election interference. Listen, I understand the new generation are really not educated.
669 |618 |02:20:15,120 ~-~-> 02:20:30,300 |They're not. And my oldest is my daughter. And I can tell you, college was the worst investment ever. Because her whole her whole outlook, she likes socialism.
670 |619 |02:20:32,040 ~-~-> 02:20:41,670 |And that's a point of contention for her and I, and we are not allowed to have certain conversations like that, because my wife won't allow it. But she is
671 |620 |02:20:41,760 ~-~-> 02:20:56,370 |indoctrinated in socialism. She like she's been taught that in college. That's what they were. They're breeding that mindset. And, you know, it's unfortunate,
672 |621 |02:20:56,550 ~-~-> 02:21:10,740 |because I'm not a subscriber to that. I don't think that's the way any country should go in every country, they've done it. False. If you'd look at the order
673 |622 |02:21:10,740 ~-~-> 02:21:27,780 |of events, and how things transpired in Venezuela, on a timeline basis, you know, we're, we're near the end of it. Venezuela used to be amazingly rich, it
674 |623 |02:21:27,780 ~-~-> 02:21:42,270 |was one of the richest countries in the world. Everything was wonderful for it. And then they put their sights on it. And everything that's going on right now
675 |624 |02:21:42,270 ~-~-> 02:21:57,000 |in America, we're following that script, just like I said, in 2016, we will be Venezuela 2.0. It's repeating itself. Is it because I was clairvoyant? No. These
676 |625 |02:21:57,810 ~-~-> 02:22:06,330 |game plans are the same rulebook they work with all the time. It's the same stuff, but when they don't teach history anymore, you don't recognize it.
677 |626 |02:22:11,340 ~-~-> 02:22:13,530 |You can't even buy the history books I have any more.
678 |627 |02:22:18,990 ~-~-> 02:22:33,360 |I'm gonna get a list of names and people, what books you have. Can you make PDFs of the book now, I'm not going to do that. But and growing more and more
679 |628 |02:22:33,360 ~-~-> 02:22:44,700 |uncomfortable. Whereas back then, and even in the early stages of all the stuff in the corona stuff, I was bored, I wouldn't say whatever I felt like saying,
680 |629 |02:22:44,700 ~-~-> 02:22:58,260 |and I didn't care. I don't have that same carefree, feel about it anymore. I'm not paranoid, I'm just not trying to draw more attention to myself than it's
681 |630 |02:22:58,260 ~-~-> 02:23:09,840 |necessary. I have something I want to accomplish this year. And once I'm done, I want us to have the full complete experience together. That way, I haven't been
682 |631 |02:23:09,870 ~-~-> 02:23:16,650 |hindered. And nothing interrupted. So I'm trying to stay in my lane.
683 |632 |02:23:22,920 ~-~-> 02:23:35,130 |The break that I had on Passover was me basically trying to stay focused on what it is I'm trying to accomplish this year. Get through it, teach you all what I
684 |633 |02:23:35,130 ~-~-> 02:23:49,800 |want to teach. In present a, a way of study that way people can come to that channel and that list of tweets that showed things in the past and learn from
685 |634 |02:23:49,800 ~-~-> 02:24:06,450 |it. And don't cost you anything. And if you don't like it after spending some time with it, that's fine. But it didn't cost you any form of sacrifice. You can
686 |635 |02:24:06,480 ~-~-> 02:24:21,750 |test it, you can see it, you can see it's been proven. And other people have proven it works. So it's not a flawed logic. It's not a contrived logic. And I
687 |636 |02:24:21,750 ~-~-> 02:24:32,430 |have a lot more people come in with the receipts that they works. And they're doing it with markets I don't ever really touch or talk about which is again,
688 |637 |02:24:32,460 ~-~-> 02:24:35,250 |proof of transferred understanding and knowledge.
689 |638 |02:24:42,420 ~-~-> 02:24:57,450 |So anyway, there's a lot of things I want to talk about. But I can't do it on this medium. So like I said, I'm probably going to start doing once a week. Some
690 |639 |02:24:57,450 ~-~-> 02:25:09,390 |kind of a I guess it would be considered my 10 foil hat discussions, and it's wonderful segregation from the trading discussions. So that way, if it's not
691 |640 |02:25:09,390 ~-~-> 02:25:19,080 |your cup of tea, you have no business going over to my soundcloud account. If you'd like that type of thing, he just want to hear what I'm looking at what I'm
692 |641 |02:25:19,080 ~-~-> 02:25:29,040 |pondering what I've found interesting and noteworthy, or where my concern is. That's what I'll do over there. There is no ads, there's no monetization of it.
693 |642 |02:25:29,700 ~-~-> 02:25:39,210 |And if for whatever reason that account gets taken down, which I can't even imagine why it would, but if it did, I don't care. It doesn't affect this
694 |643 |02:25:39,240 ~-~-> 02:25:57,030 |platform here, which is what I'm utilizing throughout the rest of the year. So that's the business there. And I will, I guess, catch up with you on Monday. Try
695 |644 |02:25:57,030 ~-~-> 02:26:10,680 |to have a relaxing weekend. Don't do too much studying. Have a little bit of a downtime and reset yourself. So I'll talk to you next time. Be safe