024-ict-tw-spaces-20230429-Equity-Concerns-When-Your-Heavens-Are-Like-Brass
Last modified by Drunk Monkey on 2023-05-05 09:26
Outline
01:35 - What a chore to get this thing connected.
- Good morning and welcome to the show.
- Taking a leave of absence from trading.
04:08 - Keeping up with the Joneses and the pressure to prove yourself.
- Keeping up with the Joneses in america.
- The joys of doing live streaming.
- Taking his mind away from the market.
- Why it feels so much harder now.
10:03 - When you’re new to trading, it’s going to move a little bit.
- Fluctuations during the times of the day.
- The importance of being re-centered and recalibrated.
- Trading less than four handles a day.
- The importance of knowing where to hurt yourself.
15:31 - I don't like being told what to do and when I know my personal limitations.
- I don't like being told what to do.
- A gas station in south carolina.
- The look in his face was like, what?
- The car that drove up.
21:37 - What happens if you don’t agree with the second amendment?
- Knock on the RV and let the occupants know it's time to go.
- North carolina.
- What would have happened if it was you.
- What happens in ladies.
- The fuel that kept him going on the trip.
- The worst could have happened.
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28:25 - When things start getting nuts, you need to be aware.
- Being aware of equity concerns.
- Deuteronomy, equity concerns when your heavens are brass.
- What to do when the market says no.
- The importance of having a model.
33:45 - The first ingredient to high probability is time -.
- Time is the first ingredient to high probability trading.
- The importance of being nimble.
36:24 - If I am left to my own devices, I have to prove myself.
- Being left to his own devices with mental illness.
- Being a sinner and repenting.
- Proud of what he's done, but not proud of some things.
- Low strike rate, low performance.
- I'm not obligated to you, but I love doing it.
- The line gets blurred.
44:12 - What happens when you get in a condition where you didn’t foresee the difficulty in price and now you’re in it.
- The danger of overnight trading.
- Praying god, please let this trade stop.
- Lessons can't be taught in a short amount of time.
- What happens after breaking up.
49:48 - You just know something's wrong, but you won’t admit it.
- Losing his first wife and feeling pressure to change.
- The importance of following rules.
- Faster, easier, faster, faster way to trade.
- The largest upheaval in the financial markets.
55:13 - Why you have to be aware of your own flaws -.
- Trading every week and not every day.
- The seven pound universe of gray matter.
- No one is exempt from this problem.
- Larry williams and one secret to short-term trading.
01:01:03 - What you want to avoid you are.
- Avoid the person who thinks this is a waste of time.
- The current market environment.
- Fear of paralysis, impulsive decisions and impulsive trading.
- Identifying weaknesses.
- John wick vs john wayne.
- The damage done in the last two weeks.
01:08:17 - When you come to grips with your failures, it’s liberating because then you start fixing them.
- The reason why most traders fail.
- The importance of journaling and journaling.
01:11:26 - You don’t have to fix your drawdown every day.
- Why trading every day is not the answer.
- Giving yourself permission to not trade.
- You don't have to fix your drawdown right now.
- Your conscience is telling you.
01:17:06 - Men don’t like losing money, women like losing it.
- The difference between men and women in trading.
- The five-handle rule.
- His first trade was impulsively in a market that he was never interested in.
- The first trade.
01:22:49 - Don’t learn how to trade with a demo account. Learn the broker with the demo and then go in with real money.
- Don't learn how to trade with a demo account.
- 81 ways to get into a trade.
- The best way to learn is in a closed-circuit environment.
- Stop listening to money millionaire mentors.
- 30 years of doing the same thing all the time.
- No shortcuts.
01:29:48 - Why I’m never charging ever again for education.
- Never charging for education anymore.
- The importance of unplugging from work and family.
- You can be wildly successful and be an utter failure.
- You need to learn lessons about money.
01:35:12 - You can’t hurry it up any faster.
- Laying down a legacy of safe, controlled trading.
- The importance of being patient.
- Everyone in the family is under the influence of alcohol and drugs.
- Trading with live money.
01:40:57 - If you don’t know yourself, you have no baseline.
- Knowing yourself is more important than knowing the market.
- Live money is not for everyone.
- Discovering who you are and what makes you impulsive.
- Finding coping mechanisms in trading.
-
01:45:00 - How to escape the pressure of wanting to do something you're not going to be able to do.
- Getting drunk in the markets.
- The new day opening gap trade.
- Weekly chart, volume and bounce on the weekly chart.
- Seasonal tendency to sell off in may.
-
01:50:52 - Fear of missing a trade -.
- Forecasting the quarterly shift in the chart.
- How to get back into the market.
- Learning to be rule-based.
- How many trading days next week and six months.
01:55:20 - What to do if you don’t want to be in this trade.
- The importance of sound logic in trading.
- Being comfortable with not knowing all the answers in beginning.
- Find your own unique approach to trading.
- Nothing better than precise, timely, precise precision.
- Listen, follow the rules and let time do its work.
- Get out of your comfort zone.
02:01:44 - Why are you stressing about stuff that has no real bearing on the success or failure of your future trading endeavor?
- The importance of being content with enough.
- The five-handles rule.
- Rebecca shares what keeps her motivated.
- Rebecca talks about the value of honesty.
02:07:32 - Be careful in the market -.
- A day before trade with the bond markets.
- Be careful in public now.
- Don't force it to take a week off.
- Knowing what to expect.
- The entry criteria for trading new week opening gaps.
- Seasonal tendency in trading.
Transcription
| 1 | 00:01:35,970 --> 00:01:47,610 | ICT: Greece what a what a chore to get this thing connected this morning. hope everybody's doing well. Good morning. Good morning, good morning, a little bit |
| 2 | 00:01:47,760 --> 00:01:57,660 | of a delay here, between my boxers letting me know they had to go to the bathroom before I started with this. And it's better for me to spend extra |
| 3 | 00:01:57,660 --> 00:02:09,630 | couple of minutes with them so that we can hopefully get through this without them. distracting me taking my attention away from my missed this morning. In |
| 4 | 00:02:09,630 --> 00:02:24,150 | case you were wondering where I've been not been paying attention as to where I've been and what I've done, took a road trip and took two of my sons on the |
| 5 | 00:02:24,150 --> 00:02:36,810 | road with me. We have an RV. And two weeks ago, I thought to myself looking at price action, I said, you know, I really can't connect with it right now. So to |
| 6 | 00:02:36,810 --> 00:02:46,590 | control the impulsiveness that I would have, if I were given the opportunity to sit here and try to look at certain things when I knew that probabilities were |
| 7 | 00:02:46,590 --> 00:03:04,800 | low. The tendency I have as a obsessively compulsive person. I wrestle with a lot of impulsiveness. And it may sound like I am a saint with patience or not. |
| 8 | 00:03:05,790 --> 00:03:18,090 | It takes a great deal of discipline for me to do what you see me do, and to manage my own internal dialogue. It's like arguing with 1000 different people, |
| 9 | 00:03:18,090 --> 00:03:30,180 | and all of them have their own opinion. And they all think they're right. And it's very hard to articulate it. But a mental illness is very hard to live with. |
| 10 | 00:03:30,180 --> 00:03:41,550 | It's hard for people to live with you. And it's very difficult to operate in an industry like this, where it requires you to be extremely focused and have no |
| 11 | 00:03:41,550 --> 00:03:55,770 | distractions. So to stave off that impulsiveness, I took a leave of absence and channeled that energy that would otherwise be utilized in markets that I knew, |
| 12 | 00:03:56,100 --> 00:04:04,680 | by experience, and by the rules that I teach you was going to be highly unfavorable. Now, does that mean that the market stayed sideways and didn't move |
| 13 | 00:04:04,680 --> 00:04:15,450 | at all? There was no fluctuations at all? No, of course not. But I think you all know. Now looking back at it, it was a little bit more trickier than it has been |
| 14 | 00:04:15,480 --> 00:04:27,690 | in recent months. And it's unfortunate, for some of you that have pushed the envelope too much, trying to get your funded accounts and or make more money or |
| 15 | 00:04:27,690 --> 00:04:35,850 | try to keep up with the Joneses. This expression says meaning in America, if you're not familiar with that term, it's kind of like keeping up with everybody |
| 16 | 00:04:35,850 --> 00:04:44,040 | else that's doing better or pretending to be doing better. So if someone gets a car, you try to get a car that's like theirs or better than you that type of |
| 17 | 00:04:44,040 --> 00:04:57,900 | thing. As a individual with a internal chip on my shoulder where I feel like I have to prove something all the time. And that's rooted in my childhood. I can't |
| 18 | 00:04:57,900 --> 00:05:14,550 | get my grandfather's approval. As he basically raised me, I do a lot of things impulsively, and I'm trying to garner something I can't obtain. So it's very |
| 19 | 00:05:14,550 --> 00:05:24,870 | difficult for me to have that impulsiveness in a market environment where I'm not obligated to sit in front of you. I'd like to remind you all that, like, I'm |
| 20 | 00:05:24,870 --> 00:05:34,050 | not obligated to spend my time with you. And I don't mean that to be condescending. What I'm saying is, I don't have any obligation to any of you. |
| 21 | 00:05:34,530 --> 00:05:46,290 | But I enjoy doing it. And because I don't run a signal service, and I facetiously made a comment to my older students, in private, stating that I'm so |
| 22 | 00:05:46,290 --> 00:05:58,050 | thankful that I'm not running a signal service in an environment like this where you're expected, you're, you're held to this standard of you have to do this, |
| 23 | 00:05:58,710 --> 00:06:11,160 | you know, we've come to you for these signals, and you're not doing it. So you're not meeting your end of the bargain, so to speak. Because it's very |
| 24 | 00:06:11,160 --> 00:06:22,650 | difficult right now. And that's also another reason why I'm glad I don't have a ironclad schedule for live streaming. That's Bella letting me know, she was back |
| 25 | 00:06:22,650 --> 00:06:30,720 | in Hold on one second, the joys of doing these things live, these are all things that would actually happen when I'm doing recordings. But you don't get the |
| 26 | 00:06:33,210 --> 00:06:42,630 | inside track because I'm editing them out. And you're probably saying, Well, what about that woman? You're married to ICT? Why don't you get her doing that? |
| 27 | 00:06:42,870 --> 00:06:56,520 | While she's out. She's doing her thing. So it's me and the girls here. So that's where I've been. And in case you haven't already picked up on where I've |
| 28 | 00:06:57,180 --> 00:07:07,590 | mentioned I was, we have an RV. So my sons two of them. I said, Let's go on a trip, let's hang out, have a little bit of a men's retreat, and just connect. |
| 29 | 00:07:08,040 --> 00:07:15,120 | That way I can take my mind away from the market take my mind away from all of you. Because it's good for us to be a part for some time. It's good, because |
| 30 | 00:07:15,120 --> 00:07:25,140 | absence makes the heart grow fonder. And you probably missed me, you know, as much as much as I missed you. And truth be told, I was really wanting to do a |
| 31 | 00:07:25,140 --> 00:07:38,820 | lot of these when I was over the road. And I thought to myself, it's actually better. It's better for you to endure this without me. Because it's kind of like |
| 32 | 00:07:39,450 --> 00:07:50,340 | a reminder that after November, it's going to be like that. And it's not to be afraid or not for you to be afraid of or grow anxious about. It's something to |
| 33 | 00:07:50,340 --> 00:07:57,900 | be excited about. Because you're going to venture into this all by yourself. And Eric, now you may not feel like you're equipped for it. It's okay, you will be. |
| 34 | 00:07:58,920 --> 00:08:10,050 | But I see T we lost a lot of April, it's okay. It's okay, you've learned a valuable lesson because I practiced what I preached. I did exactly what I teach, |
| 35 | 00:08:10,290 --> 00:08:19,410 | and taught you in these lessons in those lectures and those core content lessons that are on my mentorship videos on my YouTube channel. My long term, older |
| 36 | 00:08:19,410 --> 00:08:32,760 | students know that these times can be wearing that can wear you down and grind you down into bits. And if you're a new trader or a developing trader, these |
| 37 | 00:08:32,760 --> 00:08:46,890 | things can be major barriers to development or even willingness to stay with it. So I, I allowed for that to happen. Because I could have very easily been |
| 38 | 00:08:47,340 --> 00:08:59,760 | speaking to you through my Bose headset while I was driving hands free, completely legal in every state. But I went to South Carolina, and I spent a day |
| 39 | 00:08:59,760 --> 00:09:12,000 | and a half. And I thought to myself, This is good in Florida. And while I was diving down to Florida, I got to thinking I'm quite certain that many of you not |
| 40 | 00:09:12,060 --> 00:09:22,950 | all on you, but many of you are probably thinking to yourself, why is it feels so much harder right now? Like why is it feel like I can't find a setup that |
| 41 | 00:09:22,950 --> 00:09:32,250 | makes sense? Or why is the setups that I'm trying to get into? Why are they not performing for me? What's different about this environment? Or what's what's |
| 42 | 00:09:32,250 --> 00:09:43,800 | different about the algorithm? Did it change that something happened did too many people learn it now? Know the air sometimes the market will go into periods |
| 43 | 00:09:43,800 --> 00:09:57,330 | where it just simply has to stay put as the space basically sideways. And when it does that when it's a no immediate hurry to get anywhere. It's just gonna |
| 44 | 00:09:57,330 --> 00:10:08,280 | grind sideways. Now it's not gonna Draw a horizontal line. It's going to move and gyrate a little bit here a little bit there. You'll see fluctuations during |
| 45 | 00:10:08,580 --> 00:10:21,240 | the times of the day that we look for. But they just won't be as clean, they won't be so trustworthy. I think that's the word I'm looking for. Now, there's |
| 46 | 00:10:21,240 --> 00:10:33,150 | times where I can see setups in this sloppiness and still ferret out a move here and there. They won't be the 25 handle 30 handle 50 handle runs that you've seen |
| 47 | 00:10:33,150 --> 00:10:46,710 | me do, and they won't be always a 20 handle run. In fact, recently, even 10, handle runs have been not as frequent. Now, right away on there, some of you |
| 48 | 00:10:46,710 --> 00:10:54,120 | that are trading, you'll bring out your report card that you've been doing while it's gone, say but look at this ICT, you're being too hard on yourself, the |
| 49 | 00:10:54,120 --> 00:11:01,860 | model speaks the algorithm still working, and I did this, I did that, that's fine. That's your trade. That's your setup. I'm speaking to the individuals that |
| 50 | 00:11:01,860 --> 00:11:08,160 | didn't do it, that need the encouragement that this needs to be re centered and recalibrated. Because |
| 51 | 00:11:09,570 --> 00:11:19,530 | one or two days of not being able to find your footing. That's reasonable for a new trader, they think that's something that's within the realm of permissible, |
| 52 | 00:11:20,520 --> 00:11:31,470 | but a new trader, a new developing trader, they can't come to terms with the idea that a trading model or an approach to trading or a mindset about price |
| 53 | 00:11:31,470 --> 00:11:45,120 | action should not be two weeks, if not longer, there should be trades taken. Someone must be pushing a button somewhere. And they want to be in that group. |
| 54 | 00:11:45,570 --> 00:11:57,600 | That mindset, that approach of always being in something. And that's an unfortunate thing, because there is a time to sow and a time to reap. There's |
| 55 | 00:11:57,600 --> 00:12:05,940 | going to be times when you get into the marketplace. And you may not be able to foresee it like I was able to show you after two days sitting on Twitter and |
| 56 | 00:12:05,940 --> 00:12:19,200 | pointing out points of reference where I felt that were noteworthy two weeks ago or so. And right away, I knew that I was out of sync. And I wasn't able to |
| 57 | 00:12:19,200 --> 00:12:27,570 | connect. And that was number one. I kind of anticipated it because I told everybody we were in a scalpers market anyway. But even if we're in a scalpers |
| 58 | 00:12:27,570 --> 00:12:36,630 | market, I'm proficient enough, I can get in there and slice and dice into these small little type of price action moves. But you're not going to be impressed |
| 59 | 00:12:36,630 --> 00:12:46,260 | with 234 handles or less, a couple times a day. Now some of you might lie to yourself and say, Well, no, no, no ICT that's right up my alley. So exactly what |
| 60 | 00:12:46,260 --> 00:12:53,880 | I want to do, if you don't trust me, you don't want to do that. You don't want to do that. And the reason why you don't want to do that, and I can speak so |
| 61 | 00:12:53,880 --> 00:13:02,910 | confident about it. Because you'll start doing the math and think to yourself, Well wait a minute, now I can do two handles three handles less than four |
| 62 | 00:13:02,910 --> 00:13:15,120 | handles 2030 times a day, because look at it, look, it's moving like that all the time. And then you'll think more is better. Whereas Less is more, less is |
| 63 | 00:13:15,120 --> 00:13:26,130 | optimal, less trade frequency. When you're new, you do not want to be placing yourself in conditions and in opportunities. And I say that term opportunities |
| 64 | 00:13:26,130 --> 00:13:37,470 | loosely. And I'm doing quotes in the air with my fingers right now. You want to limit that in the beginning. It doesn't sound productive to do that. Because |
| 65 | 00:13:37,470 --> 00:13:49,590 | it's going to feel like you want to be doing this. Well, day trading must be everyday trading. And it's not not high probability then now you can get in here |
| 66 | 00:13:49,590 --> 00:13:58,950 | and get lucky and attributed to as a skillful trader navigating the treacherous waters of these markets. That's fine. Everybody's entitled their own |
| 67 | 00:13:58,950 --> 00:14:12,450 | imagination. But I'm trying to be practical and responsible as an educator to you the listener that doesn't know that yourself yet. You came into this |
| 68 | 00:14:12,450 --> 00:14:23,220 | industry, this ventured listening to me drone on about things that probably should have been said less words. But the more words, the better. Because I'm |
| 69 | 00:14:23,220 --> 00:14:32,040 | hammering down these principles, and for the people that are really prepared to want to learn. They're willing to sit through it and listen. Those that have |
| 70 | 00:14:32,040 --> 00:14:42,390 | done that. You see them doing exceedingly well. The industry has recognized them and now they're, they're making themselves known because of their results. |
| 71 | 00:14:42,420 --> 00:14:53,550 | They're not they're bragging. But some of you want to be just a fraction of what they're finding in terms of success. Even that fraction requires a great deal |
| 72 | 00:14:53,550 --> 00:15:03,180 | discipline. And you have to know yourself you have to know where you're likely to do damage to yourself. Where are you going to hurt yourself in the beginning, |
| 73 | 00:15:03,690 --> 00:15:16,260 | everything. Everything has thorns and sharp edges. Every single thing out there is too hot to touch. So you have to wear protection. And the protection that I'm |
| 74 | 00:15:16,260 --> 00:15:26,520 | offering you is experience. And sometimes that experience isn't always fully appreciated by the masses, because they want me to do certain things. They want |
| 75 | 00:15:26,550 --> 00:15:38,010 | me to perform tricks, they want me to do things that I'm obligated to do. And I don't like being told what to do. And when I know my personal limitations, as a |
| 76 | 00:15:38,070 --> 00:15:51,630 | man, as a person that suffers with mental illness, I know where I can get myself into trouble doing things as a 20 year old, trying to prove something. And I |
| 77 | 00:15:51,630 --> 00:16:02,940 | have very, very good tools, some that you aren't privy to, and won't be privy to, and others I'm teaching you throughout this year, I could still go in there |
| 78 | 00:16:02,940 --> 00:16:16,800 | navigate, but it would be completely diametrically opposed to the model I've introduced. I saw a statement the other day, I said for you. Okay, you you wait |
| 79 | 00:16:16,800 --> 00:16:31,080 | for the silver bullet. That means you wait for a setup between 10 and 11. Eastern Time, New York local time. That doesn't mean I have to. And I did a 20 |
| 80 | 00:16:31,080 --> 00:16:43,140 | hour run from Florida in an RV with only four stops. And they were just bathroom trips for my dog, and gas. And I'm just going to break this up real quick and |
| 81 | 00:16:43,140 --> 00:16:56,340 | throw this in here. We stopped in a gas station in South Carolina on the way back. And it was real close to the North Carolina border. And I have to look at |
| 82 | 00:16:56,340 --> 00:17:11,430 | my receipt to see exactly where it was. But I pulled off 95 North. And it was one of those things ran out of a movie like I pulled in. And there was only two |
| 83 | 00:17:11,430 --> 00:17:20,730 | gas stations one across the street from the other. And there was like these low rundown look in motels or hotels or whatever you want to call it. And it just |
| 84 | 00:17:20,730 --> 00:17:34,080 | looked like I was in a really bad area. But I need to guess. So. I pulled in an ocean and I got there. This car swoops in what's up at the gas pump and started |
| 85 | 00:17:34,080 --> 00:17:42,300 | pumping it and doing a walk around in my RV and look at making sure everything the tires are good news, nothing happened on the trip that far from where I left |
| 86 | 00:17:42,330 --> 00:17:53,610 | from Florida. And I'm thinking to myself, This guy's coming here really fast. Sure enough, he pulls up real quick to me. And it looks like two meth heads. |
| 87 | 00:17:53,790 --> 00:18:04,320 | Okay, I'm not trying to be funny. This is not trying to be like a comedy bit here. I could smell their body odor with the windows down and the guy that was |
| 88 | 00:18:04,320 --> 00:18:11,790 | in the passenger seat looked like he was dead. And the guy that was driving was Toothless. They look like they haven't been bathed in weeks. And guy says, hey, |
| 89 | 00:18:11,790 --> 00:18:23,550 | hey, buddy, I saw that. Your tag says you're from Maryland. And I really need some money for a hotel room. Can you help me out? Now? I don't carry cash. And I |
| 90 | 00:18:23,550 --> 00:18:35,250 | said to him, I said, I'm not sure how I could help you. I said, but I don't have any money. It's if I had cash, I would obviously I'll give it to you. But I |
| 91 | 00:18:35,250 --> 00:18:43,620 | don't have it. And the look in his face was like what and he looked over my shoulder and saw the RV. So naturally, you know you're looking at this 3000 our |
| 92 | 00:18:44,010 --> 00:18:55,500 | RV. And I'm telling him I don't have anything to give him. So as I'm looking at him, I see movement on my right your eye in the corner. And this guy is walking |
| 93 | 00:18:55,500 --> 00:19:05,130 | up real real suspicious. He got a cell phone to his ear. And he's looking around both directions as he's walking towards where we are. Now my sons are an RV. |
| 94 | 00:19:05,700 --> 00:19:14,790 | They're not aware of this. Okay, one of them is sleeping the older one and the youngest. He's He's not gonna be at any help of anything. And he's distracted |
| 95 | 00:19:14,790 --> 00:19:26,940 | because all handheld games. Something myself I am in a situation here. And usually, I have a friend shoots freedom seeds all over the place. And I don't |
| 96 | 00:19:26,940 --> 00:19:38,370 | have that with me here. I'm looking around. I'm thinking myself. Okay. My pump is in the RV. It's pumping. I don't even have $20 I'm sure pumped into the RV. |
| 97 | 00:19:40,620 --> 00:19:51,870 | I'm looking around this guy's looking for someone else. You just know you know you're in a situation. The car that drove up to me was the distraction. The guy |
| 98 | 00:19:51,870 --> 00:20:02,160 | that was coming to my right. He was on the side of the I guess the the store part of where the gas station is I didn't notice him when I pulled in, I wasn't |
| 99 | 00:20:02,160 --> 00:20:10,290 | thinking about that. I was thinking, I gotta get my RV in here without hitting anybody else's car, move my RV up, I have to take up two spots. It's so long and |
| 100 | 00:20:11,100 --> 00:20:20,790 | not hurt anything in the general area. But he came from generally the side of that building. Now, was he around the corner? Or was he leaned against the wall? |
| 101 | 00:20:20,790 --> 00:20:26,610 | I don't know that much. But the point is this, and you're practicing what the hell does this have to do with anything? I gotta get off my chest, because it's |
| 102 | 00:20:26,610 --> 00:20:33,570 | been around me. And I just say it in a tweet wouldn't be sufficient enough for me. So it's like, Ah, I gotta scratch. So |
| 103 | 00:20:35,160 --> 00:20:43,380 | the guy saying, Look, are you sure you can't do anything for me, man, I see you're from Maryland. And I understand my tag says Maryland. But I've also |
| 104 | 00:20:43,380 --> 00:20:51,510 | explained to you but I'm talking to him without looking at him now. So I'm painting over his roof of his car. And there's a car coming down. And there's |
| 105 | 00:20:51,510 --> 00:21:03,960 | not a lot of traffic in this area. Me the RV is older gentleman in a pickup truck. And what looked like young kids were leaving the gas station in their |
| 106 | 00:21:03,960 --> 00:21:15,540 | car. That was it. Just me is older guy that's two rows down. He can't see what's going on. He wouldn't be much help. And you might have something broke out. But |
| 107 | 00:21:15,540 --> 00:21:24,120 | his car comes cruising down the road. And I see that the attention of the gentleman that's coming from the right side, his eyes are fixed on that car. So |
| 108 | 00:21:24,120 --> 00:21:34,380 | I know right away, they're in connection. He comes flying in, pulls it right behind my RV. And he's looking at me doesn't say anything. He's looking at me. |
| 109 | 00:21:34,980 --> 00:21:44,820 | So I have my hand. And I put it underneath my hoodie. Like I have something. And I knock on the RV back up against RV and knock on it. Like I'm letting the |
| 110 | 00:21:44,940 --> 00:21:52,350 | occupants in my RV know that it's it's time to go. Like it's time to get what you got. Bring your heaters and let's go because we're lighting this area up. |
| 111 | 00:21:53,160 --> 00:22:03,450 | Now that's all pantomine I have nothing on me. I have nothing in my RV. Because I don't want to get caught in a state where, you know, anything happened today. |
| 112 | 00:22:03,630 --> 00:22:15,150 | And I'm not trying to go answer for something that we're licensed by the Constitution to do anyway. But some states like the blue Jana if this offends |
| 113 | 00:22:15,150 --> 00:22:24,570 | you, if you don't agree with the Second Amendment, and you cannot follow me because I don't care. But the point is this. As soon as I knocked on the RV, the |
| 114 | 00:22:24,570 --> 00:22:34,500 | Joker in a car rolled out immediately the other guy changed directions and walked into the store and the two guys in the car peeled off. Now, what's the |
| 115 | 00:22:34,500 --> 00:22:48,540 | chances? What's the chances of all that happening? And they're all not in concert with one another? They're not together? Dude, listen, it's getting wild |
| 116 | 00:22:48,540 --> 00:23:01,860 | out there. And if you are looking like you have something to take, if you have money on you, or potentially something to steal, I thought to myself as because |
| 117 | 00:23:01,860 --> 00:23:09,720 | I stopped the pump there. I had $37. I said, I'm not staying here, I gotta get out of this here. I'll go up into North Carolina and pull off into one of the |
| 118 | 00:23:10,350 --> 00:23:21,750 | bigger well known trucking stops and where I can be seen by other people. When I got rolling again, I start to take myself that could have been bad. Like I could |
| 119 | 00:23:21,750 --> 00:23:30,720 | have been held up there. Not that it could have got anything from me. I mean, but what happens if they would have that gunpoint, told me to give the RV to |
| 120 | 00:23:30,720 --> 00:23:39,420 | them. And maybe they didn't let me take my kids out of the RV. You know that that was that was what was going through my mind. And I was troubled and like I |
| 121 | 00:23:39,420 --> 00:23:53,130 | was really thinking in another instance someone else in that same predicament. What would have happened? Like didn't you know, but nobody's going to convince |
| 122 | 00:23:53,130 --> 00:24:10,020 | me that wasn't set up. there waiting for people to come in to this gas station. It's low traffic. It's in a seedy area. And it's a getaway right there. They can |
| 123 | 00:24:10,020 --> 00:24:30,990 | jump on the exit ramp to 95 south or 95 North and be gone. And when they peeled out they had no tag no tag a gray Saturn that had all kinds of body damage. What |
| 124 | 00:24:30,990 --> 00:24:45,270 | would you have done in that situation? I'm thankful that I had to auction the thing. Let me back up to the RV and knock on it. And as soon as I did that, it |
| 125 | 00:24:45,270 --> 00:24:56,910 | was just like that was the cue for them. Okay, it's time to go. Like it was all of them. All of them at one time did exactly the same thing. Cut Let's go. What |
| 126 | 00:24:56,910 --> 00:25:08,100 | happens in ladies, listen, I understand there's this i idea about what gender is and what gender ain't. But imagine it was you. Man, imagine if it was you and |
| 127 | 00:25:08,100 --> 00:25:16,050 | your pocketbook was sitting in the front seat of your car, where many times my wife does that very thing in a yacht or all the time, and you can get upset with |
| 128 | 00:25:16,050 --> 00:25:25,830 | me all about that is as much as you want. But she does these stupid things that offers off opportunity. Sometimes she leaves her pocketbook on the floorboard of |
| 129 | 00:25:25,830 --> 00:25:35,010 | the passenger seat, enticing what the when to get broken to get a pocketbook. Right now, today, you need to start thinking about those things. So now I'm |
| 130 | 00:25:35,010 --> 00:25:48,390 | really thinking about how even some of the things that I do open up an opportunity. People are getting desperate. People are getting unhinged. And |
| 131 | 00:25:48,780 --> 00:26:00,630 | crime is becoming organized in a way that it's a little unsettling. You see all these people running around going and tearing up places and stealing stuff that |
| 132 | 00:26:00,630 --> 00:26:08,610 | you never thought about getting robbed at a gas station, did you? I know, I never, it never even crossed my mind. Never one time, during the entire trip, I |
| 133 | 00:26:08,610 --> 00:26:21,330 | was enjoying everything. Until that moment, in the rest of the trip, was like, it's not gonna happen. And that was the fuel. That kept me going. Because |
| 134 | 00:26:21,330 --> 00:26:31,710 | otherwise I was gonna stop a little bit above midpoint in North Carolina and bed down there. But I couldn't rest. I was thinking myself how bad that could have |
| 135 | 00:26:31,710 --> 00:26:42,030 | turned out. So I just tossed it in there as a public announcement, it's kind of like, keep your head on a swivel. Look around. Be aware, don't be a zombie |
| 136 | 00:26:42,030 --> 00:26:50,940 | staring at your cell phone, walking in public or, or open up our opportunity because things could have turned out differently. And I may not have been able |
| 137 | 00:26:50,940 --> 00:27:00,180 | to sit with you imagine like the worst could have happened in that environment. And some of you, you're being new and dramatic. Listen, you weren't there. And |
| 138 | 00:27:00,180 --> 00:27:09,990 | exactly what I described is exactly how it unfolded. What's the chances are there's four people all doing the same thing just because I backed up against |
| 139 | 00:27:09,990 --> 00:27:20,850 | the RV and knocked on it real hard. Guess what that means? That's a big SRV. They don't know how many people were in there. And they don't know what we have. |
| 140 | 00:27:21,960 --> 00:27:41,910 | But it was a bluff. I had nothing in a tire Thumper that I did not have on me. I was in flip flops. And literally in the most ill prepared situation ever. But I |
| 141 | 00:27:41,910 --> 00:27:55,770 | pantomime like I had something. And he bought it. And I'm thankful and thankful. Because if anything would have happened, I'm not confident that I could have |
| 142 | 00:27:55,770 --> 00:28:09,540 | done very much with four people. Not in not in the position I was in no. Sorry. I mean, you just wouldn't be able to do anything with that situation. One was a |
| 143 | 00:28:09,540 --> 00:28:23,730 | lookout. One was a distraction. And they knew that I couldn't move my RV with that car behind me. Because I literally had to back out, swing around to get |
| 144 | 00:28:23,730 --> 00:28:35,610 | myself out of there. It's 30 feet long. So it's not it's like an airplane without wings on the ground. It's pretty big. But just be aware. Okay, so a nod |
| 145 | 00:28:35,610 --> 00:28:43,320 | probably spent more time on NIST and you want to hear about it. But when you're young, you think you're invincible and all this is something that women and old |
| 146 | 00:28:43,320 --> 00:28:51,240 | people have to worry about. No, you need to be aware of it now because things are getting nuts. So it's not just about making money, it's about making sure |
| 147 | 00:28:51,240 --> 00:28:58,140 | you're staying healthy and, and safe. I mean, I saw a hand ended all the time. Now when things start getting nuts. That's our end. It used to be good luck, |
| 148 | 00:28:58,140 --> 00:29:09,810 | good trading, I always say be safe. I want you to be safe now and know that there's a more impactful message behind it because I could have ended up in a |
| 149 | 00:29:09,810 --> 00:29:22,170 | potluck that could have changed everything in over something stupid. You know, I picked the wrong place to get gas, you know. But anyway, that's the topic of |
| 150 | 00:29:22,170 --> 00:29:33,870 | this one here with that long monologue out of the way. If you stay through it gratulations you did well, but the title is equity concerns when your heavens |
| 151 | 00:29:33,870 --> 00:29:42,360 | are like brass. What does that even mean? Well, there's a passage in Deuteronomy and no, I'm not gonna be preaching to you today. In case you're wondering |
| 152 | 00:29:42,360 --> 00:30:02,370 | atheists, the passes is about how through either disobedience or not adhering to the instructions or living a life that is unpleasing When you ask for help, and |
| 153 | 00:30:02,370 --> 00:30:09,810 | you send that prayer, it doesn't sound like it's getting answered. Okay, so it feels like your heavens are like brass, your your, your prayer can't get |
| 154 | 00:30:09,810 --> 00:30:22,860 | through. And your field or the ground that you're on is like iron. So you can't plant or harvest anything. So you're stuck. You're stuck right there, when it |
| 155 | 00:30:22,860 --> 00:30:34,890 | feels like you can't do anything you don't know what to do. And as a trader, what are we doing, we're trying to increase that equity curve, trying to prevent |
| 156 | 00:30:34,890 --> 00:30:36,000 | it from declining. |
| 157 | 00:30:37,380 --> 00:30:45,330 | And for Newt students trying to never have a losing trade. And that's never gonna happen, you're gonna have a losing trade, the harder you work towards not |
| 158 | 00:30:45,330 --> 00:30:55,590 | getting a losing trade, the easier you're gonna find one. Think about that. Because that's the truth. The more things you tried to hunt, and research and |
| 159 | 00:30:55,590 --> 00:31:04,740 | try to find, or try to trade in a way where you think you're never going to take a loss, they will come to you far easier if you were just to trade and accept |
| 160 | 00:31:04,740 --> 00:31:15,870 | the responsibilities of the risk and controlling that only staying within your models rules. So how does this equate to anything? What do we do with this |
| 161 | 00:31:15,870 --> 00:31:25,350 | message here? Well, your equity concern is you want to try to make money, you want to make the equity curve go up, and you want to go higher, you want to go |
| 162 | 00:31:25,350 --> 00:31:32,730 | higher on a leaderboard in the competition. You want to get a funded account challenge past you want to be able to get a certain payout. You want to be able |
| 163 | 00:31:32,730 --> 00:31:44,460 | to reach a equity high mile marker to be able to tell yourself that you can do this show the universe on social media, that you aren't a demo baller, you know, |
| 164 | 00:31:44,460 --> 00:32:01,200 | all these things are contributing factors for you to make that equity curve go up. But what happens when the market says no? What are you going to do? What are |
| 165 | 00:32:01,200 --> 00:32:13,680 | you going to do when the market is not showing you that it's a time for you to plant in IT risk. Because trading is planting in risk. You don't know just like |
| 166 | 00:32:13,680 --> 00:32:24,330 | a farmer doesn't know if that crop is going to yield anything. Think about it. They don't know. They're just doing the same thing they do all the time. They |
| 167 | 00:32:24,330 --> 00:32:37,260 | have a routine they have a model. Their model is at this time of year. Right away. What does that talk about? Are they planted their corn or wheat, their |
| 168 | 00:32:37,260 --> 00:32:54,990 | soybean, their oats, their okra that potatoes or potato in deference the folks that want to say that way. Did a plant that in December do the planet when it's |
| 169 | 00:32:54,990 --> 00:33:14,910 | likely to frost and freeze now. Their model begins with time. While there's a time to do everything, but not everything on that time. So a farmer knows as a |
| 170 | 00:33:14,910 --> 00:33:27,270 | certain time, his model as a farmer. He's supposed to do something. And outside that time it he is not to do anything. And he is not upset about that because he |
| 171 | 00:33:27,270 --> 00:33:43,110 | is following his model or her model. You don't want to have this impulsiveness as a farmer to try to get ahead and plant before you're supposed to and you |
| 172 | 00:33:43,110 --> 00:33:55,830 | don't want to be late. So the first emphasis was on time. That's exactly how I teach you how to read price action. The first ingredient to high probability is |
| 173 | 00:33:55,830 --> 00:34:06,720 | time. Is it time to do anything? Now I mentioned to that daily chart that we were in that range. And until we left it, we were in a scalpers market. And that |
| 174 | 00:34:06,720 --> 00:34:16,470 | means that you have to be very, very nimble on a one or five minute chart. And try not to have these expectations to hold for the full daily range. There's a |
| 175 | 00:34:16,470 --> 00:34:28,710 | time for that. We weren't in it. And that's why you saw this stagnant little choppy ranges where we would see a flutter here and there. Sometimes 10 handles |
| 176 | 00:34:28,710 --> 00:34:42,900 | maybe, maybe 15. But it was an erratic price delivery. And as a new student, I know that you don't have that skill set. You want it so badly. You want to be |
| 177 | 00:34:42,900 --> 00:34:52,080 | able to do it right now. And it's already a year late. That's the most that's the mentality and the motivation that you have as a new student. I understand |
| 178 | 00:34:52,080 --> 00:35:05,730 | that that's exactly how I was. I wanted to figure it all out faster than I did. But you can't speed it up. And when I gave you the insight that we're in this |
| 179 | 00:35:05,760 --> 00:35:19,950 | range, it's not high probability. So you have to be careful. And then I showed, not because of anything more, except for me wanting to tell you on that Monday |
| 180 | 00:35:19,950 --> 00:35:29,640 | or Tuesday, two weeks ago, on Twitter, what levels I was looking for. The market was not interested in the things that I wanted to see on the high end, and on |
| 181 | 00:35:29,640 --> 00:35:40,140 | the low end it was not interested in. So that told me immediately, unless something changes overnight, Tuesday of two weeks ago, in the Wednesday morning, |
| 182 | 00:35:42,420 --> 00:35:57,000 | I'm not touching it. So I had set plans in motion that if I have no interest in it, what am I going to do, because I already know the impulsiveness, the human |
| 183 | 00:35:57,390 --> 00:36:14,340 | aspect to me, the frailty of emotions, the psychological effects of wanting to show you will still be there. Which is why I said, I have the best tools in |
| 184 | 00:36:14,340 --> 00:36:22,350 | trading, I have the best models in trading. And if I'm trading in the optimal time, there is nobody that's going to trade better than me. That's not ego, |
| 185 | 00:36:22,380 --> 00:36:34,650 | that's the facts. You will experience that too. But if I am left to my own devices as a human being with mental illness, where I always feel like I have to |
| 186 | 00:36:34,920 --> 00:36:47,160 | prove myself, and people like to play counselor to me, why do you do this? Don't ask me. I don't know why. But I have to, I'm a dog chasing cars, and you're not |
| 187 | 00:36:47,160 --> 00:36:58,290 | going to fix me, a lot of people have tried good hearted attempts. But that won't work with me. It doesn't work. In fact, it in frankly, pisses me off, and |
| 188 | 00:36:58,290 --> 00:37:06,960 | I'm gonna be honest with you. I don't like when someone tries to Mother me. Now, I know a lot of you guys like to see me as a father figure. That's cool. But I'm |
| 189 | 00:37:06,960 --> 00:37:20,580 | just trying to be a voice of reason. And if I don't follow my own rules, I can blow it just as easily as someone brand new. It takes a great deal of effort on |
| 190 | 00:37:20,580 --> 00:37:32,940 | my part, to stay disciplined. I always want to moonwalk on the grass that says, Don't walk on it. I always want to do that. When someone says don't do |
| 191 | 00:37:32,940 --> 00:37:48,030 | something, I already have a dozen ways I'm going to do it. Now we kind of define that, as a Christian as a sinner. I am a sinner. And I have to repent every |
| 192 | 00:37:48,030 --> 00:37:58,740 | single day multiple times. Because the things that I want to do the things I think about wanting to do. It's not something that I would be proud of. And you |
| 193 | 00:37:58,740 --> 00:38:11,550 | probably wouldn't ever hear that from a mentor anywhere else. But I'm real practical, even though sometimes I seem impractical to most people. So I have to |
| 194 | 00:38:11,550 --> 00:38:22,740 | remove myself from that enticement. Because if I don't do that, I'm left to my own devices. And then I wouldn't be in a position where I knew I would be in a |
| 195 | 00:38:22,740 --> 00:38:32,340 | trade where I shouldn't have done it. I shouldn't be in that market. I shouldn't be in the market. You knew better ICT. Why are you doing this? Well, because I |
| 196 | 00:38:32,340 --> 00:38:44,700 | have something to prove. To who whoever will listen. That's the humanity of me that I wrestle with all the time. And for some of you younger folks, generally, |
| 197 | 00:38:44,700 --> 00:38:52,830 | the young men, you have this same thing inside you. And you want to get really, really good at this. So that way you can go out there and stick your thumb in |
| 198 | 00:38:52,830 --> 00:39:03,720 | everybody's eye that didn't have a problem with you. You'll create that audience. Because you feel like you have to do it. It's something inside of you |
| 199 | 00:39:03,720 --> 00:39:19,110 | that you can't cope with. And your coping mechanism is you want to do that. Because then you will feel like you are glad to hear that's not why I do what I |
| 200 | 00:39:19,110 --> 00:39:31,710 | do. I do it because I want to hear my grandfather telling me. You done well. I'm proud of you. And there's a lot of things I've done over the years as an |
| 201 | 00:39:32,040 --> 00:39:41,250 | educator and a teacher that I'm not proud of. And I know that if he was able to see me and had seen what I've done, or said some of the things I've said through |
| 202 | 00:39:41,250 --> 00:39:54,240 | ego, he would tell me that wasn't something that I would be proud of, or he would be proud of which would scar me but left my own devices over the last two |
| 203 | 00:39:54,240 --> 00:40:09,960 | weeks. I would have easily had an extremely low strike rate. And I'm, I talked to Tom who guard in private here and there. And I told him, I said, I would have |
| 204 | 00:40:09,960 --> 00:40:22,830 | had about 12% strike rate. If we were being honest, and we were sitting at a pub, not that I go to anything like that, but we were just hanging out here. And |
| 205 | 00:40:22,830 --> 00:40:35,310 | I. I told myself, I think, honestly, knowing myself, I would had about a 12% strike rate, which would have been abysmal. Hard. |
| 206 | 00:40:37,980 --> 00:40:52,350 | But me Knowing me, knowing my tendencies, knowing how I'm going to interpret the climate, the environment, the ideas that I know, we're going to jump up in my |
| 207 | 00:40:52,350 --> 00:41:03,420 | head and say, Okay, here's where you want to shine ICT, this is where you want to go out there and show everybody else that they can't get on your level. When |
| 208 | 00:41:03,420 --> 00:41:20,310 | this thing's doing this, you do it. I know that about me. I've done it for years, decades, I've done it. But there's something different about this now. We |
| 209 | 00:41:20,310 --> 00:41:33,750 | have so many things looming in the horizon, that can wreck these markets instantaneously. And I know that's coming. I know it is. And most of you even |
| 210 | 00:41:33,750 --> 00:41:41,880 | without me saying so you know it too. But it's not a deterrent enough for you to say, Oh, I'm not going to taking and not, I'm not gonna not take a trade right |
| 211 | 00:41:41,880 --> 00:41:52,500 | now. Because I see everybody else doing it. So I gotta do it. I'm 50 years old, I don't, don't look at everyone else and say, I want to do that because they're |
| 212 | 00:41:52,500 --> 00:42:07,590 | doing it. I look at my history. The human in me, the things I've always wrestled with. And I know that every single time I've hurt myself, it's because I wanted |
| 213 | 00:42:07,590 --> 00:42:22,710 | to do something that was not asked of me in times, where I should have done nothing, and I knew better. And now because not because I'm ominous how to open |
| 214 | 00:42:22,710 --> 00:42:32,640 | this up. In the beginning of this. Twitter space, I said that, you know, I'm not obligated to you. As a reminder, I'm not saying it to be condescending, but I'm |
| 215 | 00:42:32,640 --> 00:42:45,510 | not obligate you. And I'm telling you that because I'm reminding myself, I'm reminding myself that I don't have to do anything for you. But I love doing it. |
| 216 | 00:42:47,100 --> 00:42:55,140 | And there's a line that gets blurred sometimes because I listen to people that you all tell me not to listen to, but I want to help them because they don't |
| 217 | 00:42:55,590 --> 00:43:04,380 | believe either what I'm doing or what I teach, despite people making fortunes with it, in crediting their success to the things that they learned from me, |
| 218 | 00:43:04,380 --> 00:43:14,430 | which I'm so thankful for. And I've converted a lot of people to the school of thought not because they like me, because there's people out there that are |
| 219 | 00:43:14,430 --> 00:43:22,020 | making money using my stuff, but they don't want to say money. They don't want to give any kind of credit to it. They like to say it's always been there, but |
| 220 | 00:43:22,020 --> 00:43:31,470 | they're still using my vernacular, my terminology and my concepts. That's the thing that gets under my skin. That's what frankly, pisses me off and causes me |
| 221 | 00:43:31,470 --> 00:43:47,850 | to be the abrasive ICT. And I don't like being that person. I don't like being a drag. For the students are here to try to learn, but I'm sharing this because I |
| 222 | 00:43:47,850 --> 00:44:01,290 | want you to know that you're gonna go through this not me ICT, I'm not like you. I don't have to start making money. Start making money. And start noticing |
| 223 | 00:44:01,290 --> 00:44:11,100 | people out there doing things that are nonsensical. Like things that make no sense at all. And they're in there saying that they're this and they're that |
| 224 | 00:44:12,060 --> 00:44:24,600 | they can do this. And they can do that when you know better. And you're quietly doing it on your own, and you're doing things that they would never believe then |
| 225 | 00:44:24,600 --> 00:44:38,460 | you'll think differently. But what happens when you get in a condition where maybe you didn't foresee the difficulty in price, and now you're in it. And you |
| 226 | 00:44:38,460 --> 00:44:47,550 | just know that that trade that that trade that you're in just simply will not move but it hasn't gone your stop loss, but it won't move it you know, it's |
| 227 | 00:44:47,550 --> 00:44:57,270 | giving you every indication it's not going to go for you. Not in the manner that you want in terms of profits, it's probably gonna go for your stop. But what do |
| 228 | 00:44:57,270 --> 00:45:07,620 | you do in that situation? Well I can tell you as a young man, I was many times praying God, please let this trade not stop me. And please let this tray go to |
| 229 | 00:45:07,620 --> 00:45:21,210 | my prophet. And I promise I will stop trading this day. But I wasn't saying about overnight, trading Globex. I didn't say anything about that. So |
| 230 | 00:45:21,210 --> 00:45:33,360 | technically, I was being asked to some degree. But as soon as we crossed midnight, I'm gonna go right back out. And again, if he gets me out of it. In |
| 231 | 00:45:33,360 --> 00:45:50,100 | many times, that prayer went unanswered. And it got stopped out. And I knew, I knew I should have gotten out of the trade. But I wouldn't take it off. What's |
| 232 | 00:45:50,100 --> 00:45:58,980 | the problem with that? And hope you can appreciate me using my own examples and not talking about things, hypothetically, where you can feel victimized because |
| 233 | 00:45:58,980 --> 00:46:08,280 | you know, you've gone through this yourself. But I want you to reflect on how you've endured this. And what you were doing and what you were thinking what you |
| 234 | 00:46:08,280 --> 00:46:22,350 | were dismissing as. Now now, now, that's just me not being patient for the trade. That's not me. Falling model. So I gotta stick to my plan, my trading |
| 235 | 00:46:22,350 --> 00:46:35,820 | plan, gotta push my edge. See, when I was in those environments, and in those trades. I didn't want to get out because I was afraid if I got out, I'd be |
| 236 | 00:46:35,820 --> 00:46:50,370 | wrong. And you probably hear YouTubers, or see people type it out in their discord rooms, their telegram channels. I can't think of anything else off top |
| 237 | 00:46:50,370 --> 00:47:00,000 | my head, whatever medium Neil would use, but or maybe Twitter space like this. And you hear them or read them say, I know as soon as I get out of this, it's |
| 238 | 00:47:00,000 --> 00:47:13,680 | going to move. When they say those things, they're channeling ignorance. They're manifesting. They're basically showing you their cards, that they don't know |
| 239 | 00:47:13,680 --> 00:47:24,510 | what they're doing. Because if they didn't know what they were doing, it wouldn't matter if they got on it moved. When I was a younger man, and I fell |
| 240 | 00:47:24,510 --> 00:47:35,370 | victim to this, I was afraid to get out of the trades, even though I knew they were against me. The probabilities have shifted. Are you aware of it? While |
| 241 | 00:47:35,370 --> 00:47:47,310 | you're in trade? That's what I'm teaching you. Those lessons can't be taught through a paragraph, or a tweet with 130 characters or less. I can't do one |
| 242 | 00:47:47,310 --> 00:47:55,350 | single video and say Here it is. It's condensed in a nice little neat, easy ICT Real Fast Five Minute trainer, the easiest way to do it never have to worry |
| 243 | 00:47:55,350 --> 00:48:07,320 | about it again. That's the new flavor right now. You're not going to get it that way. You can't get it that way. It's something that has to be endured. Certain |
| 244 | 00:48:07,320 --> 00:48:17,040 | lessons have to be walked. And you have to feel it. You have to have that uncertainty. You have to know what it feels like to be in that environment. And |
| 245 | 00:48:17,040 --> 00:48:27,840 | how you react to it reactant. Some of you won't have these instances where you feel powerless to get out of it. You'll think, Okay, this isn't work anymore. |
| 246 | 00:48:27,840 --> 00:48:39,990 | Let me just kill the trade. That That right there. That is excellence. I wish I had that when I was younger. I didn't. I did not have that. I had no one telling |
| 247 | 00:48:39,990 --> 00:48:49,020 | me like I'm telling you right now listening. That's what you want to do. Believe me when I tell you, that is the answer. That's the solution. That's the thing |
| 248 | 00:48:49,020 --> 00:49:05,400 | you're supposed to do. And you're also indifferent to what happens after you get out. It's a bad relationship. What makes people go through all the turmoil after |
| 249 | 00:49:05,400 --> 00:49:15,390 | they break up with someone when it's a bad relationship, and you break up the person or persons spend all that time afterwards when you're no longer together |
| 250 | 00:49:15,390 --> 00:49:26,520 | and you're thinking you would what could have been if we stayed together? If we just would have if he just would have stayed in our bed and not ventured out and |
| 251 | 00:49:26,520 --> 00:49:38,700 | did something else if she would just understand me you're doing something that isn't going to result in anything except for misery. So why did the same thing |
| 252 | 00:49:38,700 --> 00:49:49,320 | you're trading that's what you're doing. You're not You're you're recognizing whether you realize it or not, even if you're new. You just know something's |
| 253 | 00:49:49,320 --> 00:50:07,320 | wrong. You are but you won't admit it. Just like I couldn't admit it. My grandfather recently passed away at the time when I started. So I get all of |
| 254 | 00:50:07,320 --> 00:50:26,910 | this pressure placed on me, as a young man, lost my father figure lost my first wife. And I had something to prove. So I had all the most amazing disadvantages |
| 255 | 00:50:26,910 --> 00:50:31,470 | going into this class I hated where I was in life. |
| 256 | 00:50:37,110 --> 00:50:45,510 | So I know what it's like to feel pressure to change the way you are and where you are and how you live. I know. I know what it's like to grow up and not have |
| 257 | 00:50:45,510 --> 00:51:04,170 | that family element supporting you. I know, I know. Even being successful, like I have known for decades, my mother didn't care. At some point, it doesn't |
| 258 | 00:51:04,170 --> 00:51:14,100 | matter. I don't worry about my mom, I don't worry about my father who's in prison on never to spend time with. They weren't supposed to have children. I |
| 259 | 00:51:14,100 --> 00:51:27,180 | wasn't supposed to be here. I was, I was supposed to be aborted. But because a threat by my biological father, my mother gave birth to me and never raised me. |
| 260 | 00:51:30,990 --> 00:51:41,880 | You can have all of your disadvantages, all the excuses of why you think you won't be able to do this. And it's all a lie. That's something for you to reach |
| 261 | 00:51:41,880 --> 00:51:56,490 | for. Because you don't follow the rules. Because when I don't follow rules, I fail. I can feel just like the newest person that starts in this, if I don't |
| 262 | 00:51:56,910 --> 00:52:06,990 | submit myself to the rules, and engage when I'm supposed to engage and not engage, and I'm not supposed to engage. Because I know me, this is why you |
| 263 | 00:52:06,990 --> 00:52:15,060 | cannot learn this in a workshop over a week, you can't learn this in a month, you can't learn in 120 days, you can't learn in six months, you can't learn in |
| 264 | 00:52:15,060 --> 00:52:28,740 | one year, but at one year, you get a good foundation. And that's when the real learning starts. And I have never one time, sugar coated that. And so many |
| 265 | 00:52:28,740 --> 00:52:35,760 | people out there are trying to take what I've taught and still actively teaching. And you're trying to condense it down to something to market it to |
| 266 | 00:52:35,760 --> 00:52:44,640 | people. For the real fast approach. I swear to God Almighty, if there was an easier, faster way I would do it, it would come right out of my lips and it |
| 267 | 00:52:44,640 --> 00:52:59,430 | would be done. I wasted time in the beginning doing that. Just like those environments where if you get in a market environment where it's not conducive |
| 268 | 00:52:59,430 --> 00:53:07,170 | for low resistance liquidity run where it just runs real easy, like a hot knife through butter just slices right through it, no problem at all going right to |
| 269 | 00:53:07,170 --> 00:53:16,620 | where you knew was gonna go. And doing it faster than you were hoping it would do it. That's what I'm teaching you to look for. But they're not every day like |
| 270 | 00:53:16,620 --> 00:53:26,460 | that. Those exist sporadically in the right times and the right settings. And because of all the uncertainty that we're seeing seeing in the world right now, |
| 271 | 00:53:27,780 --> 00:53:38,970 | believe me, folks, we are witnessing the largest upheaval in the financial markets and financial systems, plural. Globally, there has never been we're out |
| 272 | 00:53:38,970 --> 00:53:55,470 | the door. So you have to be careful. And I'm trying to be much more careful because of that. But if you get yourself in a situation, you may not believe in |
| 273 | 00:53:55,470 --> 00:54:14,700 | God, but somehow those three letters will come out of your mouth. Oh god. Oh, Jesus. It's funny. I've listened to Muslims doing live streams. And they'll |
| 274 | 00:54:14,730 --> 00:54:29,430 | alter his name, which is interesting. What are you doing? You're looking outside yourself. And you're resisting. You're resisting the very thing that your |
| 275 | 00:54:29,430 --> 00:54:46,620 | conscience is telling you to do. Get the hell out of that trade. You know, what's coming. Regret, loss, pain, but you want to arm wrestle it. You don't |
| 276 | 00:54:46,620 --> 00:54:58,830 | want to seem weak. I'm going down on they're going to carry me out on my shield. Well done. You blew your account. Maybe not on that trade. But the six or seven |
| 277 | 00:54:58,830 --> 00:55:12,030 | trades out of that one. That's what's coming. Why? Because you arm wrestled in an environment that you can't win. See, my tools in the right setting are |
| 278 | 00:55:12,030 --> 00:55:24,660 | flawless. That's why I can beat to the tick. But have you noticed that it's not every single day? That's like that? I like, wait, wait, wait, wait, wait, wait, |
| 279 | 00:55:24,690 --> 00:55:41,400 | wait, wait, stop right there. Your model is every week, every day, and it won't stop you, right. But the market you're trading that particular market won't be |
| 280 | 00:55:41,400 --> 00:55:53,880 | every week, every day. This is always occurring every day, and every week, somewhere. Oh, there's you're out there saying of course. I didn't say anything |
| 281 | 00:55:53,880 --> 00:56:04,500 | other than that. That's how it's always been. When I was teaching Forex, and primarily focusing on forex, I had two pairs. Euro might not go to the tick, but |
| 282 | 00:56:04,740 --> 00:56:16,290 | cable did. And vice versa. And there were some times where both those two pairs that I worked with, with my group, sometimes Ozzy dollar did something perfect. |
| 283 | 00:56:19,650 --> 00:56:29,130 | You can't have an every day, day trading expectation of precision, you can't, you're just starting. Okay, you can't do that. In the beginning, you have so |
| 284 | 00:56:29,130 --> 00:56:41,670 | many obstacles in front of you, you have no idea the difficulty in this. And it starts between your ears. And it remains between your ears. That seven pound |
| 285 | 00:56:41,670 --> 00:56:58,740 | universe, that gray matter that we call our brain has a wonderful, wonderful capability of telling you things at the wrong time. And sometimes it tells you |
| 286 | 00:56:58,770 --> 00:57:13,200 | exactly what you need to hear. And then you ignore it. So if you're in market environments, where by rules, the ones I've taught you nagging told you and it |
| 287 | 00:57:13,200 --> 00:57:25,620 | breaks my heart to see these people tweeting to me. I lost this much money, I'm not trading. Why did you do it? You know, your own reasons. And that's the thing |
| 288 | 00:57:25,620 --> 00:57:31,830 | that everybody has to learn about themselves. But you want to pretend it you're not going to be that person, you're not going to be one of those statistics that |
| 289 | 00:57:31,830 --> 00:57:42,750 | have all these other flaws inside them. Some of you may have mental illnesses that are beyond the scope of mine. And you'll have to wrestle harder and do |
| 290 | 00:57:42,750 --> 00:57:49,740 | things much more. While |
| 291 | 00:57:57,600 --> 00:58:11,880 | the word escapes me, it'll be harder for you. But you won't know that. You won't know that until you go through it. And buying courses and watching my videos or |
| 292 | 00:58:11,880 --> 00:58:21,360 | watching anybody else's videos or using this application they've created or filing signals from somebody else that will not make you exempt. No one's exempt |
| 293 | 00:58:21,360 --> 00:58:41,760 | from this. People fail because they don't incorporate their own flesh. Because that's what's going to do you in how many people do you know that educate, |
| 294 | 00:58:42,330 --> 00:59:00,420 | pretend to be a mentor will sit out here and tell you their own flaws. They will never do that. Because number one that will put a damper on sales will make you |
| 295 | 00:59:00,420 --> 00:59:11,070 | question oh maybe isn't the person I need to learn from? I would counsel you anyone in any industry in any kind of endeavor whatsoever. If they're willing to |
| 296 | 00:59:11,070 --> 00:59:26,940 | show you where their weaknesses are and if they can identify them, and then navigate with them. That's someone you can learn from. I'm telling you, I wish |
| 297 | 00:59:26,940 --> 00:59:39,030 | to God I had someone like I'm trying to be for you. When I was coming up there was no one I had four VCR tapes with Larry Williams. And one secret to short |
| 298 | 00:59:39,030 --> 00:59:49,020 | term trading. He did like a I don't know if he was a keynote speaker. I'm Africa exactly what it was. It was he was a keynote speaker from some event. And those |
| 299 | 00:59:49,020 --> 00:59:58,920 | are the tapes I had I had a course by Don fish back 90% options trading, which is trash. Don if you're listening I don't mean to be disrespectful but it really |
| 300 | 00:59:58,920 --> 01:00:13,170 | was garbage and In the books that are wasted. And I've said it many times before, why do I keep them because they have sentimental value, not because |
| 301 | 01:00:13,170 --> 01:00:22,290 | there's any value between the covers of those books. But I spent a lot of money, I worked hard to make the money to buy these books over the years collecting |
| 302 | 01:00:22,290 --> 01:00:34,050 | them. And I just can't bring it to throw them away. And they're not valuable enough to get anybody. So here, I don't want to have this anymore. Here you |
| 303 | 01:00:34,050 --> 01:00:52,200 | learn from this. This is all trash. It's all garbage. You want to hear how to do something, let the story start with it. Here's not, here's what not to do. And |
| 304 | 01:00:52,200 --> 01:01:01,500 | if you want to find out real quick, if you're ready, or someone else is ready to learn it their attention span will not permit them to listen to someone tell you |
| 305 | 01:01:02,070 --> 01:01:16,470 | or others. This is what you want to avoid. You that person listening, that feels that way you are the waste of time. You are. Because the point I'd gotten to |
| 306 | 01:01:16,500 --> 01:01:26,640 | from the beginning of this discussion, it's going to be far harder than you think it's ever going to be. And I've told everyone that's ever listened to me |
| 307 | 01:01:26,640 --> 01:01:41,970 | in the last three years. This is extremely hard. 30 years I've been doing this, these candlesticks are not new to me. But the way the markets are behaving is an |
| 308 | 01:01:41,970 --> 01:01:54,090 | anybody that's been trading for a longer period and two years, three years, some of you just now started, you have no idea what you're walking into, and how much |
| 309 | 01:01:54,090 --> 01:02:07,950 | harder it is. Anyone that has been trading for a long period of time. And I'm saying five years or more, I think that's a fair amount of time. You're not new. |
| 310 | 01:02:08,940 --> 01:02:18,510 | And you have seen market environments that are not like this. You know what I'm talking about, you know exactly what I'm referring to. And it's not some kind of |
| 311 | 01:02:18,510 --> 01:02:36,090 | cryptic message. This market is behaving differently. It is going to be hard for you to learn in this environment. But learning in this environment will make you |
| 312 | 01:02:36,150 --> 01:02:48,660 | so much better. So much better than it was for me. And we had well, by definition in terms of what we've seen in recent years in terms of volatility. |
| 313 | 01:02:49,410 --> 01:02:59,220 | It was like a snail's crawl. Where if you got three handles on the day, you did well. That was a good move in the morning, three handles, three handles, |
| 314 | 01:02:59,700 --> 01:03:12,420 | people's stop losses are bigger than that now. But that's where it was back then. But the volatility you have today, needs to be respected. Because he can |
| 315 | 01:03:12,420 --> 01:03:22,890 | do wild stuff in a short span of time. And you'll be in that situation, praying to a god you never believed in. But now you're reaching for him now. In Your |
| 316 | 01:03:22,890 --> 01:03:33,420 | heavens, there'll be like brass, and sometimes it'll be for people that are believers in the same fate that I had. And you want to get that situation. Oh, |
| 317 | 01:03:33,420 --> 01:03:42,060 | God, please, please, please let this trade pan out for me. Please, please just let me not get stopped out on this one. I will trade the rest of the week if I |
| 318 | 01:03:42,060 --> 01:03:57,810 | can just get this one flying. In that prayer gets answered. Because your heavens are like brass. What happens then you look down. And a new idea comes to mind. |
| 319 | 01:03:57,990 --> 01:04:09,180 | You're going to plant the seed again in that risk. But now the grounds like iron, you can't turn the soil over. You can't cultivate it. You can't put a new |
| 320 | 01:04:09,180 --> 01:04:22,740 | trade on because why? Fear paralysis? What do you do in that situation? See, as a new trader, a new developing student, you don't know what to do. So what are |
| 321 | 01:04:22,740 --> 01:04:33,780 | you going to be left to do impulsive decisions while the missus gone here and figured out. Now find my way through it. Yeah. Right on through another blown |
| 322 | 01:04:33,780 --> 01:04:47,670 | account. Well done. How many times do you have to do that before you would learn a lesson? I've watched people tweeting to others and me talking about doing that |
| 323 | 01:04:47,670 --> 01:04:58,440 | same thing in environments that I've openly said. We're in low probability. They're trying to pyramid to try and treat with larger leverage. They're trying |
| 324 | 01:04:58,440 --> 01:05:06,390 | to treat every session every day. I try to trade every macro ICT said we can between this time it's time there's gonna be when I'm getting in, I'm doing |
| 325 | 01:05:06,930 --> 01:05:17,820 | okay, you have to have some kind of premise to be acting on. You don't want you don't know what to expect. You're new, you have no idea what you're doing, |
| 326 | 01:05:18,720 --> 01:05:32,070 | trying to engage in an environment that I'm not willing to touch myself. So what does that teaching you about yourself? You're reckless, you're reckless and |
| 327 | 01:05:32,070 --> 01:05:41,370 | you're impulsive? Are you willing to observe that and identify it? If that's who you are, and it's listening to me? Are you willing to let yourself identify that |
| 328 | 01:05:41,370 --> 01:05:59,490 | weakness in you? Trust me, it's okay. To identify weaknesses, you want to do that? In the comfort of a demo. That's why I teach like this, folks. You have no |
| 329 | 01:05:59,490 --> 01:06:13,260 | idea who you are. You're gonna get in these markets and think you're asking me say John Wayne, but that really dates me now that you think you're John Wick, |
| 330 | 01:06:13,260 --> 01:06:26,370 | here you go, you think you're John Wick, you're gonna go out there and get your ass kicked. And you're frustrated. I'll just reset my account, doin $100 or so. |
| 331 | 01:06:26,670 --> 01:06:34,020 | And I was going to do the same thing I just did. Because all I did was entered too early or too late. Or I put my stop loss in the wrong position. Wrong. |
| 332 | 01:06:34,140 --> 01:06:40,590 | You're trading in an environment that's not conducive for high probability. But you can't see that you can't recognize that because you're not listening. When |
| 333 | 01:06:40,590 --> 01:06:54,630 | the guy that's talking to you is telling you these things in advance. He's taken a road trip 1100 miles away. Not touching the market, but you're in near blowing |
| 334 | 01:06:54,630 --> 01:07:09,360 | your funded account. Where's the logic in that? But I see you're not the only one I can find profitable trades, right? But why are you trying to push with my |
| 335 | 01:07:09,360 --> 01:07:21,630 | concepts in an environment? I'm not trying to touch every set if you win, it's coincidence. And it's painful for some of you to hear that. Like there's no way |
| 336 | 01:07:21,630 --> 01:07:34,410 | it's not coincidence skill. I'm a monster. I'm I'm being I'm being made into a monster. Sure. Like you said you said I was gonna be a monster. Yeah, okay. But |
| 337 | 01:07:34,440 --> 01:07:45,060 | you don't want to wreak havoc on your own account. Like Godzilla, stomping around and Tokyo destroying everything. That's your equity curve. He's just |
| 338 | 01:07:45,060 --> 01:07:51,330 | this, this totally dismantled it. In a short span of time in the last two weeks, how much damage have you done? |
| 339 | 01:07:53,760 --> 01:08:07,770 | Not me. Not your broker? Not the method or the concepts. How much damage did you do? Oh, that's a roll call for responsibility that nobody wants to take |
| 340 | 01:08:08,010 --> 01:08:20,040 | initiative and stand up say, Yeah, I did it. But the ones that are ready to do that they're ready to learn. I ignored it too. I tried to find some kind of |
| 341 | 01:08:20,040 --> 01:08:31,260 | external reasons why I was failing as a young man. And I promise you knowing what I know. Now looking back, it was always me. There was no other contributing |
| 342 | 01:08:31,260 --> 01:08:46,680 | factor. It was me. And when you come to grips with that, and you accept it, it's liberating. Because then and only then can you start fixing the issues. But you |
| 343 | 01:08:46,680 --> 01:08:55,980 | have to be able to identify them and stop ignoring them, or pretending they're not there. That's the reason why you're not finding success. You're armrests, |
| 344 | 01:08:55,980 --> 01:09:09,360 | wrestling things that need to be dealt with in you the person. Every single one of my failed students are failures because they themselves won't listen. Because |
| 345 | 01:09:09,360 --> 01:09:16,500 | if what I teach is flawed logic, it wouldn't be the fastest thing spread and all over the industry in terms of trading, people would not be passing all these |
| 346 | 01:09:16,500 --> 01:09:30,600 | funded accounts, getting on leaderboards, taking wild withdrawals from their efforts doing it. They would all be failing. What are they? What are they doing |
| 347 | 01:09:30,600 --> 01:09:40,470 | differently? They're taking it serious. They're treating it like a business. They're not in your gambling. They're not in there thinking Well, all I gotta do |
| 348 | 01:09:40,470 --> 01:09:53,760 | is reset the account. All I gotta do is pay the 100 bucks reset. If I get an affiliate program, I can do it and I don't have to pay for the resets. Think |
| 349 | 01:09:56,550 --> 01:10:10,890 | where are you and all that you have to yourself and I can't do it for you. No mentor can, no teacher can do that. You have to allow yourself the time to find |
| 350 | 01:10:10,890 --> 01:10:23,790 | out who you are, how you're going to derail yourself. And you will. And you'll know right when it's about to happen. And that's why you're supposed to journal. |
| 351 | 01:10:25,350 --> 01:10:36,030 | And for the folks that don't want to journal, I don't have time for journaling and money make me get time to journal and write books. I guarantee you these |
| 352 | 01:10:36,030 --> 01:10:54,210 | people don't make money consistently. I promise you, they don't make money. Every high tech position in the world, all of them keep that on their |
| 353 | 01:10:54,210 --> 01:11:12,630 | performance. KPIs every industry every, every food producer, every commodity manufacturer or producer, any kind of company. They all have performance stats, |
| 354 | 01:11:13,560 --> 01:11:23,730 | that means they're doing what they journaling. Now, for the folks that don't want to journal, in their trades in their development, doesn't that make you |
| 355 | 01:11:23,730 --> 01:11:37,020 | feel stupid? Like you're gonna walk through this? No real effort is just going to fall in your lap. It's gonna be easy. Why do that I got to spend time writing |
| 356 | 01:11:37,020 --> 01:11:45,000 | in journals. I can't make money on those old movies anyway, why? Like, why would you want to do that? You're going to continuously work the rest of your life. |
| 357 | 01:11:46,410 --> 01:11:58,020 | And you're gonna be even more miserable because you won't find success in this. And you won't be successful in your job. And you'll be miserable. The rest of |
| 358 | 01:11:58,020 --> 01:12:08,250 | your life, you've been relegated to the shared desk with Carl. Matt net. The last thing you see before retirement is him smiling, saying I told you never get |
| 359 | 01:12:08,250 --> 01:12:08,580 | out of here. |
| 360 | 01:12:14,700 --> 01:12:24,180 | There's gonna be times when your heavens are like brass. In the ground, you stand? Well, it's gonna be like iron. What do you do? You take a road trip, |
| 361 | 01:12:24,180 --> 01:12:32,160 | maybe you take a road trip, you go on a fishing trip, you go into your hobbies that are outside the marketplace. Pour your time and attention into your family |
| 362 | 01:12:32,160 --> 01:12:45,810 | or your friends, apart from the market, it's good. It's good to do it. It allows you to recalibrate and reset your mindset. And you give yourself permission to |
| 363 | 01:12:45,810 --> 01:13:01,080 | forgive yourself for not doing it sooner. I'm not obligated to do any of this for you. Just like you're not obligated to trade every day. Have you ever given |
| 364 | 01:13:01,080 --> 01:13:11,310 | yourself permission so I'm giving it to you right now. You have my permission as your mentor to not trade every day. In fact, that should be a goal for you. When |
| 365 | 01:13:11,310 --> 01:13:24,630 | you make money, and you're new stop. Let the week close and profit. That's a skill set. It's teaching patience. It's teaching enough to be content with |
| 366 | 01:13:24,630 --> 01:13:40,890 | enough that ICT it was only $1,100 I could have made right but did you make 1100 hours at your job after taxes? No. So why are you going to risk it? You're not |
| 367 | 01:13:40,890 --> 01:13:53,220 | skilled yet. You're finding yourself. You have to continuously instill this cheerleading mindset as you're going up in who you are eventually gonna begin as |
| 368 | 01:13:53,220 --> 01:14:05,370 | a trader, you have to cheerlead yourself. You have to do that through journaling. Spend time looking at when you got it right. You're going to need |
| 369 | 01:14:05,370 --> 01:14:18,000 | those times. You're going to doubt yourself, you're going to doubt your future performance. If you try to trade every single day and you start going into |
| 370 | 01:14:18,000 --> 01:14:31,050 | drawdown here's no permission. You don't have to fix your drawdown right now. What Yeah, you don't have to who says you had to do it right now? Who says you |
| 371 | 01:14:31,050 --> 01:14:41,460 | had to fix the drawdown and bring it completely back this week or this month? Who said that? You did? Or the people you hear other on social media CRO on |
| 372 | 01:14:41,460 --> 01:14:56,370 | about oh, this and that. Who's running your business? them? Are you think because if you're letting other people on social media impact your decisions |
| 373 | 01:14:56,370 --> 01:15:00,810 | about when how you're going to trade you're not run In your business |
| 374 | 01:15:05,819 --> 01:15:18,269 | if you're not running your business, who is the people that don't care about it? If they don't care about your business, believe me, they only care enough to see |
| 375 | 01:15:18,269 --> 01:15:32,159 | it fail. It would be nothing more pleasurable for them to see you fail and go on social media and complain and bellyache digital into myself. And they feel great |
| 376 | 01:15:32,159 --> 01:15:34,169 | about themselves because they're failing in privacy. |
| 377 | 01:15:40,229 --> 01:15:51,089 | So when your heavens are like brass, and you can't find your way out of the position you're in, in terms of profit close to trade. As soon as you recognize |
| 378 | 01:15:51,689 --> 01:15:59,429 | that you feel like you got to pray for the outcome of that trade to be different than what you think is already going to happen. Because you know, you're looking |
| 379 | 01:15:59,429 --> 01:16:11,909 | at the charts, you see it, something in the underpinnings of the marketplace have shifted. You recognize that. And now your conscience is telling you, it's |
| 380 | 01:16:11,909 --> 01:16:28,139 | time to hit the exit ramp. Just don't take the exit in South Carolina did. You have to stop, remove yourself from the risk and walk away from it. And it |
| 381 | 01:16:28,139 --> 01:16:38,969 | doesn't mean immediately look for another payer and other market to trade. And try to plant yourself in risk again, because the ground you're standing on is |
| 382 | 01:16:39,119 --> 01:16:53,129 | now iron. You can't turn the soil over and place good money in terms of seed for risk. And expect to get the results that you didn't make up in the first trade. |
| 383 | 01:16:54,509 --> 01:17:09,089 | Why why why not do that? Because your mindset is now distorted because you feel performance anxiety. You put on a trade, it didn't work for you. So now as a |
| 384 | 01:17:09,089 --> 01:17:19,589 | young man, especially, I noticed the ladies that are students of mine, they generally don't have this characteristic. And then like they they're willing to |
| 385 | 01:17:19,589 --> 01:17:29,309 | accept the wrong. They don't like when they lose money. That's the thing they don't like, where men, they don't like losing, but they don't mind taking on big |
| 386 | 01:17:29,309 --> 01:17:42,179 | losses. They don't like the aspect of it being wrong. So there's this, we may be arguing semantics. And I guess some of you could present that as an argument, |
| 387 | 01:17:42,179 --> 01:17:57,149 | but I don't see it that way. I see it as the men they have this. They want to be they want to be right. Women's not so much. They don't care. They don't care |
| 388 | 01:17:57,149 --> 01:18:02,999 | about being right. They don't want to lose money. Where men they don't care about losing money, they could lose money and as long as they ended the day |
| 389 | 01:18:02,999 --> 01:18:17,939 | being right. They can go down and severe drawdown and come back. Yeah, look what I was able to do. I was down 38% in intraday took 16 trades. But the last two, I |
| 390 | 01:18:17,939 --> 01:18:36,779 | got it all back baby, Allah and the ladies in my fold. Do not ever want to go through major drawdown like that and they don't care if they're wrong. So where |
| 391 | 01:18:36,779 --> 01:18:56,309 | are you in that spectrum? Where are you in that mindset? Some of you don't know, you haven't been doing it long enough. And that's why it takes a lot longer to |
| 392 | 01:18:56,309 --> 01:19:10,739 | learn this than everybody else promotes it to be. You can be so successful live the life of your dreams. It's Lambo lifestyle. But none of them are telling you |
| 393 | 01:19:11,549 --> 01:19:25,679 | the adversities that you're gonna go through. They're not going to tell you how to deal with it. What's permissible, what's realistic, five handles, not 200 to |
| 394 | 01:19:25,679 --> 01:19:44,369 | one are multiple setups. Everything I teach you is meant to meet the practical expectations of meeting ends. Meeting one bill a month. Whatever the lowest bill |
| 395 | 01:19:44,369 --> 01:19:57,389 | is, that's what you aim for first. But something happens, something happens in your mind when you when you first start dealing with these charts and you're |
| 396 | 01:19:57,389 --> 01:20:11,249 | demoing or your rushing through that part by never doing the demoing, which is to teach you, you, you're learning who you are in demo. That's why I can't stand |
| 397 | 01:20:11,249 --> 01:20:18,419 | these neophytes out there pretend to be mentors telling people, you can't learn how to trade with a demo, you got to put some money, you got to put some skin in |
| 398 | 01:20:18,419 --> 01:20:33,029 | the race. Okay, I've done that. And it fails miserably. And it gives you all of these anxiety inducing things that you would never have had, if you wouldn't did |
| 399 | 01:20:33,029 --> 01:20:45,149 | that. I didn't know the mistakes I had in me, and the capability of me screwing it up. Because I never risked real money before. As a younger man, I jumped in |
| 400 | 01:20:45,629 --> 01:20:57,839 | way sooner than I should have. I literally did like two, three weeks of just back testing paper trades. That's it. And I did one walk forward, I think a week |
| 401 | 01:20:57,839 --> 01:21:08,489 | or maybe we can have it most not even two weeks. And I convinced myself I was ready to put money into a live account $2,600 on a nation's Bank, which doesn't |
| 402 | 01:21:08,489 --> 01:21:23,519 | exist anymore, nation's bank credit card. Now tell me the sense of net zero. And it's no surprise, my first trade was impulsively in a market that I was never |
| 403 | 01:21:23,519 --> 01:21:33,149 | really interested in orange juice. It's too thin. It wasn't even seasonally. Looking back at seasonally, it was not even in a position where to do anything. |
| 404 | 01:21:36,569 --> 01:21:48,599 | And I traded in a vehicle I had no experience in options. But I had to do it, I got the account open, it's been two days, I better take a trade. And overnight |
| 405 | 01:21:48,599 --> 01:22:01,109 | 20% of the headcount gone. Not the account. But the options premium. I paid $50 for Orange Juice option, which is extremely expensive. So I bought an overvalued |
| 406 | 01:22:01,139 --> 01:22:17,699 | option. I didn't know it. And overnight, lost 750 hours of that option premium. And then close the account that day. Wonderful lesson, perfect illustration of |
| 407 | 01:22:17,699 --> 01:22:18,509 | what not to do. |
| 408 | 01:22:24,149 --> 01:22:33,809 | I wish we had demos back then, we had to do everything on paper, write it down on a notebook. That's how we did it. Make our own charts, we had draw the high |
| 409 | 01:22:33,809 --> 01:22:46,199 | load open and close ticks on every single chart. If we traded it or want monitored it, that's how we did it. You have no idea the advantages that you |
| 410 | 01:22:46,199 --> 01:22:57,479 | have today, but you won't use them. You're trying to rush through still. Don't learn how to trade with a demo account, learn the broker with the demo, and then |
| 411 | 01:22:57,479 --> 01:23:02,999 | go in with real money. Even if it's a little bit of money. That's someone that is absolutely not making money consistently. They don't know how to trade and |
| 412 | 01:23:02,999 --> 01:23:08,999 | you should not be listening to them. And I don't care who they are, how many people follow them, and how much they're like right now. I don't care. And you |
| 413 | 01:23:08,999 --> 01:23:24,959 | can hate me. I don't care. That's real. Because that's someone that doesn't even know what they're talking about. You have so many things going on in your mind |
| 414 | 01:23:25,889 --> 01:23:39,509 | that you're going to bring to this that are going to derail you and you have to know what they are and you cannot discover that with out pain and loss or |
| 415 | 01:23:39,509 --> 01:23:54,689 | building in fear anxiety inducing concerns for your equity. With live money, you do that you're going to be scared money in the beginning, my second account I |
| 416 | 01:23:54,689 --> 01:24:09,119 | opened up I was terrified. Yeah, yeah, I work two jobs. Pizza delivery, everything I could picked up cans, tournament and redeem them for money. I did |
| 417 | 01:24:09,119 --> 01:24:19,499 | all that stuff, folks. I did all of that. Walked down the streets picking up soda cans, beer cans, all that stuff. I did that just to get whatever I could |
| 418 | 01:24:19,499 --> 01:24:29,939 | scraped up so don't talk to me about you don't know what it's like ICT. You don't know what it's like. You don't know what I did. You don't know what I went |
| 419 | 01:24:29,939 --> 01:24:44,219 | through. But their second account. I was terrified. Terrified. I was afraid of every possible entry. And you're wondering why the hell does ICT have all these |
| 420 | 01:24:44,219 --> 01:24:56,219 | concepts? Because I had to cope with it. I wanted to have an arsenal. My weakness was fear of knowing when to get in. Bro. Let me tell you something. I |
| 421 | 01:24:56,219 --> 01:25:05,099 | got 81 ways to get into a trade AB One. And that's why these jokers on the internet will say, Oh, he's got something to always explain why the market it |
| 422 | 01:25:05,099 --> 01:25:16,709 | You're damn right I do. I know it like the back of my hand. But I also know when it's likely to slap me around on that plane. No, thank you. I've been there |
| 423 | 01:25:16,709 --> 01:25:26,279 | before you haven't. You're too new. You don't even know what it looks like. But I'm sharing that experience with you. I'm allowing you to find yourself in a |
| 424 | 01:25:26,279 --> 01:25:35,189 | closed circuit environment where you are not incurring monetary risk. That's why I teach what a demo. That's why it's the best way to learn. That's where you |
| 425 | 01:25:35,189 --> 01:25:44,879 | need to learn in a laboratory experiments setting where you can not lose money and build anxiety inducing mindsets. That's going to be a prevention to you |
| 426 | 01:25:44,879 --> 01:25:57,869 | finding success. How much plainer? Do I have to make it folks stop listening to these kids pretending to be money millionaire mentors, okay. They literally just |
| 427 | 01:25:57,869 --> 01:26:04,919 | graduated school, they probably dropped out of college, they have no idea what you're talking about. The only money they got in their accounts is from whatever |
| 428 | 01:26:04,919 --> 01:26:15,479 | they sold. Whatever their affiliate programs are, their multi level marketing garbage. They're not trading, they cannot train, they will not show you what the |
| 429 | 01:26:15,479 --> 01:26:28,679 | markets gonna do. They cannot do it. So why the hell you listening to their advice? Because you see them pretending with their pump. They're rented cars. I |
| 430 | 01:26:28,679 --> 01:26:40,109 | own my cars. I own my home. There's no note on my cars. There's no note on my homes. And I show you where it's gonna go. I execute on it. And I use the logic. |
| 431 | 01:26:41,129 --> 01:26:56,909 | And I'm telling you, when it's not right for me by example, I stopped a walked away. Think Who do you want to learn from? Somebody that can walk the walk and |
| 432 | 01:26:56,909 --> 01:27:11,789 | talk to talk and press stop? And know why and have no concerns for? Oh, I might miss something. I don't have any fear of missing out. You never hear me say, |
| 433 | 01:27:11,909 --> 01:27:29,129 | Whoa, why did that happen? Why did that slap in the end just happen? No, I'm not surprised by that. But I can go into a week where I'm expecting certain things |
| 434 | 01:27:29,129 --> 01:27:43,739 | to happen. And they don't manifest. Okay, I'm not surprised by that I'm just not interested. See the difference there. That's experience. That's 30 years baby of |
| 435 | 01:27:43,739 --> 01:27:54,179 | doing the same stuff all the time, expecting the expected results at the end of it. But if it's going to show me signatures that are not supporting what I'm |
| 436 | 01:27:54,179 --> 01:28:06,449 | teaching you. That's an invitation for you to find a new way of doing it. All these new guys and gals out there trying to reinvent the wheel have already gave |
| 437 | 01:28:06,449 --> 01:28:25,679 | you the wheel. You have to build the car on top of it. And some of you don't want a Lamborghini. Some of you are just okay with a pickup truck. A Volkswagen |
| 438 | 01:28:26,759 --> 01:28:41,909 | a jeep? Or even Why won't go there. Is he going to save? Or was he going to say I speak please tell me what you're gonna say no, I'm not going to do that. But |
| 439 | 01:28:41,909 --> 01:28:58,289 | there's a learning curve to this that nobody really expects to exist until they step into it. And they don't like it. It's a reminder to them that everything |
| 440 | 01:28:58,289 --> 01:29:07,169 | worth doing requires a lot more effort than you thought was gonna take. There's no shortcuts to this, folks. I am the shortcut. I promise you even though it |
| 441 | 01:29:07,169 --> 01:29:20,879 | seems like it's long winded all the time. This is the shortcut. You cannot make it simpler than this. You're waiting for the market to go up to run stops or |
| 442 | 01:29:20,969 --> 01:29:31,619 | reprice to an inefficiency. It's going to drop to run stops or repriced to inefficiency or it's going to go sideways. And guess what? When the markets |
| 443 | 01:29:31,619 --> 01:29:49,529 | gonna go sideways ICT is doing something else. Now imagine for a second imagine that you paid me money for your month of April. I would have to do something |
| 444 | 01:29:49,529 --> 01:30:00,539 | right. I would have to perform. I would have to sit down and give you my opinion. Guess what? That doesn't have to happen anymore. I don't do that |
| 445 | 01:30:00,539 --> 01:30:12,569 | anymore. That's why I'm never charging ever for education. When I'm done in November, I'm done. I'm done. I have so much enjoyed the last two weeks to just |
| 446 | 01:30:12,569 --> 01:30:25,049 | simply saying, that's my life. That's what I want to get back to. I didn't ask you for my work for your permission to do what I did. I don't need to ask for |
| 447 | 01:30:25,049 --> 01:30:37,439 | it. But I did what I had to do, from a psychological point of view, where I'm reminding myself that I'm in control of me. And since 2016, I have not felt in |
| 448 | 01:30:37,439 --> 01:30:49,259 | control of my own life. I've allowed people all around the world to conduct my life for me, tell me when I had to be somewhere what I had to do, answer emails, |
| 449 | 01:30:49,259 --> 01:31:03,059 | and I can't even keep up with the emails. It's too many of you. And it just feels so good for me as a man to be able to unplug, I needed it. Like I needed |
| 450 | 01:31:03,059 --> 01:31:16,679 | it. It was so good to be out there with my kids and just having conversations with them. And I broke down, we were in a restaurant. And one of my sons said to |
| 451 | 01:31:16,679 --> 01:31:26,279 | me, he goes, Dad, I've never seen this with you before. And I said, what he was like you're sitting down, you're talking to us. And you're not even talking |
| 452 | 01:31:26,279 --> 01:31:32,129 | about the market, you're not talking about your students. It's just like you're talking to us. And I lost it. |
| 453 | 01:31:47,819 --> 01:32:04,889 | So as much as I love doing this with you all. I love doing that with them more. And I'd be honest in by saying that I sometimes feel guilty about that. And I |
| 454 | 01:32:04,889 --> 01:32:26,489 | shouldn't my kids. But I have built this life, all around trading. Since I was 20 years old. And I was not the best father, I was not the best husband. I've |
| 455 | 01:32:26,489 --> 01:32:34,619 | never done anything outside of my relationship. And I've always provided for my kids, but I was not there in the house with them, but I was not there. |
| 456 | 01:32:40,080 --> 01:32:50,640 | So it's not always about money that you need to learn lessons about, because you can be wildly successful. Be a pillar in the community of the industry that |
| 457 | 01:32:50,640 --> 01:33:09,000 | you're in and be an utter failure as a father, a husband, a wife, and no amount of money. None of that can wipe it away. |
| 458 | 01:33:18,060 --> 01:33:28,410 | You have no idea how hard this industry is. Because you don't know how hard you're going to make it on yourself. That's the variable. And nobody ever writes |
| 459 | 01:33:28,410 --> 01:33:43,440 | that in their books about every one of them. They're never going to place that clarity on it. Because they have something else to sell later on. And the |
| 460 | 01:33:43,440 --> 01:33:52,080 | reality is, if you were told this in the beginning, and you're not going to be willing to make the sacrifices is when it really would this. You have to |
| 461 | 01:33:52,080 --> 01:34:01,980 | sacrifice your wants. Because you call them needs. Now I need to do this ICT you don't understand now I understand. But you need to understand too, simply |
| 462 | 01:34:01,980 --> 01:34:14,490 | because you want it and you call it needing it. And that's already a problem. Because when you say the word need need, it's going to be I need to take a |
| 463 | 01:34:14,490 --> 01:34:27,450 | trade. I need to get that drawdown back right now. I need to go and reset my account. I need to do this I need to do you don't need to do anything except for |
| 464 | 01:34:27,450 --> 01:34:39,690 | learn. You need to listen to me. I'm not giving you bad advice. I'm not trying to prolong your success. I'm not trying to steer you away from something else |
| 465 | 01:34:39,690 --> 01:34:46,440 | that might be better because if you can find it, go do it. If you find something better than I got, tell me about it. I'll look at it and I'll stop what I'm |
| 466 | 01:34:46,440 --> 01:34:56,190 | doing and do that. I swear to God, that's what I'll do that I've already been down that road before folks. I've already been down that road dozens of times |
| 467 | 01:34:56,310 --> 01:35:07,380 | before I left my 20s and I'll be 51 In August, this dog is set in his ways, and I'm changing this industry, and you're all part of it, you're on the ride with |
| 468 | 01:35:07,380 --> 01:35:20,370 | me. We're blazing a trail together. And that's friggin awesome. That's awesome. We're laying down a legacy where people are literally doing things in a |
| 469 | 01:35:20,370 --> 01:35:33,540 | controlled manner. Learning how to do this in a safe setting, and then you're watching students walk out there in the real world, and put it the task. And |
| 470 | 01:35:33,540 --> 01:35:45,690 | they're changing their lives with it, independent of whatever I think is going to be in the marketplace. That's awesome. Your success story is waiting. But you |
| 471 | 01:35:45,690 --> 01:35:56,520 | can't hurry it up. You can't, you can't assure it any faster, and it's going to be and the speed at which you receive it or get to it is unique to you. And be |
| 472 | 01:35:56,520 --> 01:36:07,410 | comfortable with that. The harder you push to make it sooner, you're just pushing it further down the line. I swear it's the way it is. You start to enjoy |
| 473 | 01:36:07,410 --> 01:36:15,330 | the process, go through it. And one day, you'll know you're reading, you won't feel impulsive about anything, you're comfortable, you'll be able to navigate, |
| 474 | 01:36:15,330 --> 01:36:25,590 | you'll notice the market and condition right now you don't want to touch it. And you don't care who else is making money. Who cares? Well done. Good job that you |
| 475 | 01:36:25,590 --> 01:36:36,210 | made money doesn't mean I have to do anything and doesn't mean I'm less of a trader? What, that's not what you see on social media. I don't want you to think |
| 476 | 01:36:36,210 --> 01:36:49,560 | that way. I don't promote that idea. Your results are yours. I can't sleep in your bed and wrestle with falling asleep because the drawdown you've taken on. |
| 477 | 01:36:50,790 --> 01:36:58,860 | And I can't relish in the successes of the profits that you made in your trades, because I didn't incur the risk. So why are you trying to do that with other |
| 478 | 01:36:58,860 --> 01:37:10,890 | people's results? You're minding their business, they're mine and theirs. You mine yours. Some of you won't, you certainly won't ever be in business because |
| 479 | 01:37:10,890 --> 01:37:18,600 | you're doing stupid stuff like that. You're trying to keep up with the Joneses. You're rushing too soon. And then when you find yourself in a situation that you |
| 480 | 01:37:18,690 --> 01:37:26,700 | know in your heart that you're rushing, you shouldn't be there risking real money or trying to get a funded account passed. You don't know you're doing it. |
| 481 | 01:37:27,960 --> 01:37:36,360 | Why even bother with that until you know exactly what you're doing. How you're going to mess yourself up. You have to learn who you are. |
| 482 | 01:37:42,930 --> 01:37:55,920 | The last time we talked. I was in Florida. And I said to you that Alexander elders book trading for a living. And the first portion of that book, in my |
| 483 | 01:37:55,920 --> 01:38:07,440 | opinion is the that's the gym. In talks about alcoholism and the effects of it and the way it affects people, families, relationships on a business. I've never |
| 484 | 01:38:07,440 --> 01:38:22,590 | been drunk in my life. But I've watched everybody in my family be under the influence of either drugs or alcohol. And you'd be surprised to see how some of |
| 485 | 01:38:22,590 --> 01:38:33,300 | them were totally different people when they are drunk. Absolutely, you would never recognize that's the same person. Totally nasty drunks, but crazy, violent |
| 486 | 01:38:33,300 --> 01:38:41,670 | drunk. And they would say, oh, what's the whiskey talking? No, that's not that's not whiskey talking. Whiskey, just numb them enough to let them have no |
| 487 | 01:38:41,670 --> 01:38:55,050 | inhibitions, without inhibitions. The real person manifest themselves. And that's what happens when you get with trading with live money. You're drunk. |
| 488 | 01:38:55,950 --> 01:39:09,300 | You're driving drunk right now, with a live account. With no experience. You're under the influence of what? Trying to make money and nobody's there, they can |
| 489 | 01:39:09,300 --> 01:39:21,510 | take the keys from you. So you have to know these things before you do it. Because you don't want to find out that you are a nasty, violent drunk, that |
| 490 | 01:39:21,510 --> 01:39:33,690 | crashes when you get with live money, that's why you have to do this in demo. You're going to find your character flaws. That causes those same individuals to |
| 491 | 01:39:33,690 --> 01:39:48,000 | go to alcohol to self medicate. They know what's going on, but they won't share it with anybody to help get themselves through it. They'll relationship midlife |
| 492 | 01:39:48,000 --> 01:40:01,380 | crisis, anxiety, generalized anxiety, I'm sure is a major contributing factor. But all those things in other things it's the list is too long. You've been |
| 493 | 01:40:01,380 --> 01:40:09,690 | hurt, you've been scarred a bad relationship, you broke up, you're lonely, whatever that is, leads them to alcohol or substance abuse and trading is in |
| 494 | 01:40:09,690 --> 01:40:24,930 | that too. It is the same thing, folks. It's the same thing. I have never been drunk with alcohol. Now, I guess you can say, then, I guess, high from CBD oil. |
| 495 | 01:40:25,620 --> 01:40:33,960 | They had THC in it, and I needed it for my back, it was very much crazy. I haven't done it in two years or more now. But I can tell you this, if I have |
| 496 | 01:40:33,960 --> 01:40:42,600 | another episode where I was going through it like I did, then I would gladly do it. And I was opposed to anything marijuana. I don't smoke it. I've never |
| 497 | 01:40:42,600 --> 01:40:50,970 | smoked. I've never smoked anything like that. But I am not against it. I don't think you should be trading under the influence of it. Because I was really |
| 498 | 01:40:50,970 --> 01:41:03,630 | relaxed. But the point is trading with live money. If you don't know yourself, you don't know your model. And you don't know the way the market is behaving. |
| 499 | 01:41:03,870 --> 01:41:12,360 | And you haven't seen at least four quarters or a four year of what seasonality looks like, you have no baseline, you have no idea. So that's equivalent to you |
| 500 | 01:41:12,360 --> 01:41:26,400 | flying into a city you've never been heartbroken. Angry, because if someone else left you, you got fired. You got a cancer diagnosis six months to live. And now |
| 501 | 01:41:26,430 --> 01:41:43,020 | you're in a hotel where there is a high end bar right across the street. What are you going to do? To go there and medicate yourself? But how are you going to |
| 502 | 01:41:43,020 --> 01:41:54,150 | conduct yourself after that? You don't know. So why would you do that with live money. You don't know what you're going to do to yourself, and you don't know |
| 503 | 01:41:54,360 --> 01:42:05,520 | the consequences that you're going to do to yourself as a result of whatever it is you do while you're drunk. trading with live money losing that, that pain |
| 504 | 01:42:05,520 --> 01:42:16,980 | that that's going to bring one because you weren't ready. And you're going to know that you weren't ready when you were ignoring that you knew beforehand. And |
| 505 | 01:42:16,980 --> 01:42:29,670 | that's gonna present all kinds of scar tissue that's gonna promote you to do what make bad decisions. And now you have fear when teaching my students to |
| 506 | 01:42:29,730 --> 01:42:41,190 | operate and learn about themselves in a demo, that's what the demos therefore. But they tell you here, learn our platform, learn how to trade, the patterns |
| 507 | 01:42:41,190 --> 01:42:51,060 | that you do with the demo. Well, you think you watch the video by me or someone else or read a book? So that's what I did. I know what that looks like a 123? |
| 508 | 01:42:51,060 --> 01:43:01,110 | Top Oh, yes, a descending wedge. And that's a hidden show. I'm ready. You're not? I wasn't? Yeah, it's just the way it is, folks. But the demo is there for |
| 509 | 01:43:01,110 --> 01:43:15,060 | you to discover who you are. What makes you tick? Where are you impulsive? See, that's what it takes to do this. And anybody who tells you otherwise, is full of |
| 510 | 01:43:15,060 --> 01:43:28,650 | shit. And this is the way it is. They have some kind of ulterior motive. They have something to sell you. They want to derail you. But I'm telling you, you |
| 511 | 01:43:28,650 --> 01:43:40,230 | can do this. But you're gonna have to submit to a lot more time than you want to. But once you learn how to do it, and you know, what sets you off? What makes |
| 512 | 01:43:40,230 --> 01:43:51,570 | you feel impulsive? What are the triggering mechanisms in your personal life? In your thinking? Are you wrestling with a mental illness that makes you do certain |
| 513 | 01:43:51,570 --> 01:44:05,130 | things that are not supportive for a successful endeavor and trading that you have to now find coping mechanisms? Are you a drunk? Are you a drug user? If you |
| 514 | 01:44:05,130 --> 01:44:15,000 | are you need to tackle that because trading will not work with that. Are you in a toxic relationship? If it is that you're in a toxic relationship, you either |
| 515 | 01:44:15,210 --> 01:44:30,210 | fix the relationship or leave it and if you've been removed against your joists from a relationship because they left you, or you had to leave because it was a |
| 516 | 01:44:30,210 --> 01:44:40,140 | toxic relationship, you have to let that go and forgive them and forgive yourself and move on. Because if you're feeling all those things, those |
| 517 | 01:44:40,140 --> 01:44:48,930 | pressures and regrets and what if thinking if we stayed together? What if I would have left sooner would have been so much better? You got to stop because |
| 518 | 01:44:48,930 --> 01:45:04,170 | all those things are going to trigger you to want to feel better. And to feel better, you escape that's what I did. I've gotten an RV. And I escaped the |
| 519 | 01:45:04,170 --> 01:45:13,890 | pressure of me wanting to do something I know my rules say, I'm not gonna be able to do. So I take myself away from it. I've never been drunk before. But I |
| 520 | 01:45:13,890 --> 01:45:26,010 | get drunk in these markets. Because I get a bloodlust. I know what I can do in here. But I also know that you're not going to like just well, just yesterday I |
| 521 | 01:45:26,010 --> 01:45:36,060 | recorded the trade, I told you where I was gonna go for ES tired, I could not really focus I was tired, really, really tired. When I was driving home, the |
| 522 | 01:45:36,060 --> 01:45:45,390 | yellow line was literally vanishing. And I had to keep blinking and modeling. Okay, I'm talking about the yellow line on the left side of the lane. So I was |
| 523 | 01:45:45,510 --> 01:45:59,070 | passing semi trucks to get get around them. Average speed, 76 miles an hour. Not safe. But I wanted, I wanted to get home. Like I wanted to get home and in bed |
| 524 | 01:45:59,070 --> 01:46:10,470 | down here. And I just I just lost my train of thought. That's what, really, but |
| 525 | 01:46:17,340 --> 01:46:27,390 | before I mentioned when I said I'm gonna need you to help me out here on Twitter, what was the thing I said before? What was I saying? Once you tweeted |
| 526 | 01:46:27,390 --> 01:46:28,530 | to me, I know exactly where I was. |
| 527 | 01:46:58,020 --> 01:47:06,060 | Folks, leave me out here hanging. Now I was saying right before driving home. I was tired. But |
| 528 | 01:47:17,310 --> 01:47:25,560 | yeah, I know that the trade that I did yesterday, that's what it was. Nobody really mentioned it here. But that's just remember what I was talking about. I |
| 529 | 01:47:25,920 --> 01:47:35,370 | told you what the ES was going to do. In tweets I said, I'd like to see the new day opening gap, which is the difference between where Fridays and on Friday, |
| 530 | 01:47:35,370 --> 01:47:47,820 | but where 5pm closing prices, and then the restart at 6pm. Eastern time. That's New Day opening gap. Friday, we didn't completely close that in and we traded |
| 531 | 01:47:47,820 --> 01:48:03,390 | lower. And we traded down into the gap. of time a fair value gap on the five minute chart was set the stage for a rally up into the new date opening gap and |
| 532 | 01:48:03,390 --> 01:48:14,100 | then that bisect liquidity pool. And there's a volume and bounce on the weekly chart. And I think I mentioned in the live session or Twitter space I did in |
| 533 | 01:48:14,100 --> 01:48:25,410 | Florida. I know I said it audibly. I'm wondering now if I said it to my older students. But I did talk about the the volume imbalance on the weekly chart. So |
| 534 | 01:48:25,410 --> 01:48:37,020 | for the sake of those individuals that don't know referring to, if you pull up the ES chart on TradingView, that symbol is ESM 2023. Click it to timeframe of |
| 535 | 01:48:37,020 --> 01:48:50,880 | weekly. And then you'll see on the weekly chart Monday, August 15 of 2022. It's a down close weekly candle. And then the next candle is down with Monday, August |
| 536 | 01:48:50,880 --> 01:49:01,860 | 22. Okay, there's a wick that doesn't come all the way back up to the previous week's low, there's a little bit of a gap there. That's a real gap. That's a |
| 537 | 01:49:01,860 --> 01:49:12,030 | liquidity void. That's a real liquidity. And the fact that those two bodies of those respective candles don't connect, you want to have that entire range |
| 538 | 01:49:12,030 --> 01:49:22,470 | highlighted on es because that's where we're likely to go. And if you look at the fair value gap that's on the march 27 of 2023 on that same weekly chart, the |
| 539 | 01:49:22,470 --> 01:49:31,830 | only thing we did was we trade down into that and then that's why you see it going higher. Now also stated that we're going into may end during the month of |
| 540 | 01:49:31,830 --> 01:49:45,660 | May going into June. Traditionally, that's a seasonal tendency for it to sell off and move lower. I'm thinking that we might pump up into the high on es for |
| 541 | 01:49:45,660 --> 01:49:56,430 | January 30. That high or that wick on the weekly chart that consequent encouragement. We've gone through it to subsequent weeks after that on the |
| 542 | 01:49:56,430 --> 01:50:07,440 | upside. So because of that I'm favoring more The January 30, high and then the volume and bounce that this gave you on the weekly chart. So that range, that |
| 543 | 01:50:07,440 --> 01:50:21,240 | small, little actual gap between August 15, weekly, low and the August 22, weekly high, that small little gap up there. We could go up to that and how we |
| 544 | 01:50:21,240 --> 01:50:32,340 | trade there, you know, that's gonna be watching. But if we do have the seasonal tendency for May going into June, if you look at the relative equal lows on es, |
| 545 | 01:50:32,790 --> 01:50:45,630 | those being December 19 of 2022 and the low on March 13 of 2023. There sell Cibolo that, so if we do have a weakness in ES in the season impact or seasonal |
| 546 | 01:50:45,630 --> 01:50:55,260 | tendency does materialize going into the month of May into the second week of June. That's where it would draw to. So I'm kind of like forecasting the |
| 547 | 01:50:55,410 --> 01:51:04,080 | quarterly shift before it's in the chart. So I'm not saying it is going to happen, but that's what I'm anticipating. So therefore, I would like to see |
| 548 | 01:51:04,080 --> 01:51:13,080 | things get in alignment with that. But obviously, I can trade against that, because it hasn't really, it hasn't manifested itself yet. So what I was going |
| 549 | 01:51:13,080 --> 01:51:21,870 | to say, and I lost my train of thought moments ago was yesterday, I gave you an outline on Twitter, where I was going to go near the opening gap and in there |
| 550 | 01:51:21,870 --> 01:51:35,310 | the Buy Sell liquidity pool. And because of my fatigue, the entry, I moved my stop up too soon. And it came down and stopped me out. But the conditions were |
| 551 | 01:51:35,310 --> 01:51:43,170 | still there. So I simply just reentered and I saw focusing on you what was it? What was the entry criteria? Why you how'd you get back into it. And you know, |
| 552 | 01:51:43,200 --> 01:51:51,690 | whatever the idea of what I outlined, that was going to be the draw on liquidity. And we had already traded to an old new weak opening gap high, |
| 553 | 01:51:51,960 --> 01:52:00,960 | multiple times. And we had three times that it traded lower on a one to five minute chart. So sell side was wiped out. So the inefficiency is want to be on |
| 554 | 01:52:00,960 --> 01:52:12,210 | the buy side. So reaching higher, how high can it go to old new week opening gap to the new day opening gap and too old by Selichot. report higher and higher. |
| 555 | 01:52:12,840 --> 01:52:23,250 | That's basically what I tweeted. So I recorded that and showed that example. And here it is. So I have ways of trading getting into a setup that aren't going to |
| 556 | 01:52:23,250 --> 01:52:34,680 | be always explained to you. But the models that I teach, if you stay with that I told you, as a student, I told you to wait until the silver bullet forms. The |
| 557 | 01:52:34,680 --> 01:52:45,270 | silver bullet is highlighted in that Faraday got it. When I'm usually doing fair a gap for like from bullishness, it'll either be like a light blue, or sometimes |
| 558 | 01:52:45,270 --> 01:52:54,270 | if I'm not using blue to be green. If I'm looking for something that's bearish, it's just going to be some hue or color, that's red. Okay. But I highlighted |
| 559 | 01:52:54,270 --> 01:53:02,880 | that fair value gap in the recording. That's the one that was going to be used for silver bullet. And you can see it does in fact, deliver it on that basis, it |
| 560 | 01:53:02,880 --> 01:53:15,570 | goes and runs up and goes higher. You're learning to be rule based, I have lots of rules, I have lots of models, I have lots of approaches to trading, I'm not |
| 561 | 01:53:15,570 --> 01:53:26,430 | limited to that. And because I've been away from the marketplace, I have to get myself back in alignment. So if I see something I'm going to, I'm going to get |
| 562 | 01:53:26,430 --> 01:53:37,050 | it because I have 81 ways to get into a trade. So I don't have a fear of missing a trade. I never ever, ever have a fear of missing a trade. You may not have on |
| 563 | 01:53:37,080 --> 01:53:49,320 | any one of my entry mechanisms, you have a number of them. But you won't have fear of missing out because I'm giving you time based setups between 10 o'clock |
| 564 | 01:53:49,320 --> 01:53:58,380 | in the morning and 11 o'clock in the morning, there is a fair value gap that will reach for inefficiencies or liquidity that happens every day, every single |
| 565 | 01:53:58,380 --> 01:54:10,560 | day that will form between two o'clock and three o'clock every single day. Every single trading day. There will be the same type of setup today as your Pm silver |
| 566 | 01:54:10,560 --> 01:54:21,420 | bullet through the form. We stuck them in real deep in these lectures because the weak ones won't listen. They'll watch the people that want to make the five |
| 567 | 01:54:21,420 --> 01:54:33,210 | minute trainers and they'll miss all the stuff that goes around that supports it. But the idea of fearing a missed the move, there's no reason to fear that |
| 568 | 01:54:33,990 --> 01:54:48,660 | how many here here's a question for you folks. Listen. Put the pork rinds down. Okay, listen. How many trading days next week? Six months from now, how many |
| 569 | 01:54:48,660 --> 01:54:58,470 | trading days are going to have a 10 o'clock to 11 o'clock in how many of them are going to have a two o'clock to three o'clock window of opportunity? And |
| 570 | 01:54:58,470 --> 01:55:10,950 | that's a trick question but Sit down, you're gonna have to prepare yourself for this. But every single one of them every single one of them have that. So why, |
| 571 | 01:55:10,950 --> 01:55:22,320 | pray tell? Would you ever fear missing a move? That's a that's what a neophyte does. That's what's, that's a hallmark. For someone that says, I don't want to |
| 572 | 01:55:22,320 --> 01:55:32,430 | be in this trade. I know, I know, if I, if I, if I stay with you, I'm going to be a loss. But I know also, if I get out, it's going to move, what? That's what |
| 573 | 01:55:32,430 --> 01:55:40,590 | they're talking to you with. They're telling you those things. They're literally telling you in no uncertain terms, they have no idea what they're doing. Why |
| 574 | 01:55:40,590 --> 01:55:55,080 | listen, their results are not rooted in sound logic. It's just happenstance. And I had nine months, nine months of happenstance, initially, I had that and |
| 575 | 01:55:55,080 --> 01:56:05,490 | evaporated. So you want to have logic, you want to sound logic as to why you're taking a trade, and you want to be doing it with a rule based idea that you've |
| 576 | 01:56:05,490 --> 01:56:16,050 | worked with, for months that you have grown accustomed to when it doesn't work for you, because you're floundering in the beginning, you have no idea what |
| 577 | 01:56:16,050 --> 01:56:22,260 | you're doing. But you're not beating yourself up, because you're not losing money, you're not wasting the mortgage money, your spouse is going to be upset |
| 578 | 01:56:22,260 --> 01:56:31,230 | with you, because you've wasted some money that should have been used for some other things around the home. If you just listen to me, I'm going to keep you |
| 579 | 01:56:31,230 --> 01:56:41,010 | out of trouble. Your spouse can't be upset with you, because you didn't waste any money. I'm not charging you any money. I'm teaching you a life skill that is |
| 580 | 01:56:41,010 --> 01:56:53,280 | absolutely going to benefit you in more ways than you realize. But you can't do things outside of what I'm telling you to do and what not to do. If you do your |
| 581 | 01:56:53,280 --> 01:57:04,500 | teaching yourself. The results are yours. And when you fail, don't describe that to me. The folks that listen to me to do everything I tell you to do and what |
| 582 | 01:57:04,500 --> 01:57:13,500 | not to do, and how to progress in practice and study and learn in a demo account. Stop listening to people complain about I'm teaching you in a demo |
| 583 | 01:57:13,500 --> 01:57:17,640 | account, why doesn't this guy trade with a live account? Why can't you be as accurate as I am? |
| 584 | 01:57:19,410 --> 01:57:26,940 | How's that? How about that? Okay, let's start there, how come you can't be as accurate as I can. Because until you get that fixed, I don't need to do anything |
| 585 | 01:57:26,940 --> 01:57:44,850 | else. So be comfortable with discovering who you are. Be comfortable with not knowing all the answers in beginning. Because you'll learn them, you'll find |
| 586 | 01:57:44,850 --> 01:57:54,900 | your own unique approach to doing this with everything that everyone else has been exposed to with my content. You might not want to trade at 2022 model, you |
| 587 | 01:57:54,900 --> 01:58:05,130 | might use an optimal trade entry, you might just simply do a bullish breaker. Bearish breaker, it's enough for you during 10 o'clock to 11 o'clock. If a |
| 588 | 01:58:05,130 --> 01:58:16,650 | breaker forms, okay, there's nothing wrong with that you just won't get the better fill that the fair baguette would give you. So it's a matter of letting |
| 589 | 01:58:16,650 --> 01:58:26,250 | your own personal tastes and your own personality dictate what you're going to do. That way you don't feel pressed into a mold and have the same feelings I |
| 590 | 01:58:26,250 --> 01:58:38,310 | had, where I can only trade with this guy said this book. And if it didn't make sense to me, I wasted all those times forcing something that wasn't fitting me. |
| 591 | 01:58:38,610 --> 01:58:51,360 | It didn't fit me. And that's why I'm I'm practical. I know. I'm not the best mentor out there. I'm not I have always maintained that. That's something I wish |
| 592 | 01:58:51,360 --> 01:59:05,760 | I was better at. But nothing out there is better than what my concepts do. There's nothing better than precise, timely, precise, precision, sound logic, |
| 593 | 01:59:06,060 --> 01:59:18,870 | understanding liquidity, understanding the algorithmic macros that really starts these moves. They're predictable. And you can, you can rest assured that there's |
| 594 | 01:59:18,870 --> 01:59:28,290 | much more coming this year. And what I've already given you is more than you'll ever find in any other medium. No other teacher, no other resource. No other |
| 595 | 01:59:28,290 --> 01:59:38,040 | approach is going to get this much detail that removes all the things you're worrying about. You're worried about what happens if this and what happens if |
| 596 | 01:59:38,040 --> 01:59:49,110 | that How about what if you just listen? Follow the rules and let time do its work. Let's do that. Hear me, okay. spend this year doing what I'm telling you |
| 597 | 01:59:49,110 --> 01:59:56,970 | to do and avoid the things I'm telling you to avoid. And then come at me with your questions. Because I promise you you're going to see results that you can't |
| 598 | 01:59:57,000 --> 02:00:04,530 | appreciate now because you don't know what's common. You don't Know where your discoveries are going to be in yourself in that many of them might be painful, |
| 599 | 02:00:05,040 --> 02:00:13,800 | but don't run from them. Don't hide from them. You don't want to be in a situation where you're trying to pray your way out of a situation that you put |
| 600 | 02:00:13,800 --> 02:00:23,580 | yourself into. And your conscious is telling you get out of it, just simply get out. If you have the thought process of, if I get out of this, or when I get out |
| 601 | 02:00:23,580 --> 02:00:40,830 | of this, I know it's gonna move. You don't know what you're doing. You're not content with the model. So you're greedy. You're being greedy. I know if I did |
| 602 | 02:00:40,830 --> 02:00:53,610 | have this trade, I'm in profit right now. But I know as soon as I close this trade, it's going to run. If you vocalize that, outwardly, if you type that into |
| 603 | 02:00:53,610 --> 02:01:07,710 | any kind of social media, that is the surest testimony that you don't know what you're doing. You have work to do. refine that? Why is it that you feel that |
| 604 | 02:01:07,710 --> 02:01:18,930 | way? What are you lacking? Targeting? Time of Day? Day of Week. |
| 605 | 02:01:23,970 --> 02:01:33,240 | Simple that you can't appreciate that until you wrestle with it. And then when you come to terms with it, and you understand, oh, well, I don't have to be |
| 606 | 02:01:33,360 --> 02:01:43,740 | concerned about if I get out of it. And it runs, because the setups that I use, they're time based. And they form every day, within a 60 minute window. What am |
| 607 | 02:01:43,740 --> 02:01:49,740 | I worried about? Like you're never going to have another 10 o'clock till 11 o'clock period ever in trading. Like there's never going to be another trading |
| 608 | 02:01:49,740 --> 02:02:03,660 | day that never has that time window aspect. Even on holiday schedules, there's a 10 to 11 because they shut that down at noon. Silver Bullet that's why it's |
| 609 | 02:02:03,660 --> 02:02:16,650 | named. Thank you have a full trading day. You have one again between two o'clock and three o'clock. That can be your entire model. Why are you stressing? You're |
| 610 | 02:02:16,650 --> 02:02:30,570 | worried about stuff that has no real bearing on the success or failure of your future trading endeavor? You're making mountains out of molehills worrying about |
| 611 | 02:02:30,570 --> 02:02:35,580 | stuff. It's eating up energy, time and concern. |
| 612 | 02:02:40,950 --> 02:02:53,220 | When in doubt, stay out. When in doubt, get out. There's so many statistically provable, go back in time, don't just take my word for this. Go back and look at |
| 613 | 02:02:53,220 --> 02:03:05,070 | it. It's always there. Be content with enough what's enough ICT five handles in the beginning that I did not say stop at five panels and never get any more than |
| 614 | 02:03:05,070 --> 02:03:15,060 | that. My audience members are people that don't know what they're doing. And they've never done this before. But you can do exceedingly well with five |
| 615 | 02:03:15,060 --> 02:03:26,100 | handles. Imagine if you just did five handles in the morning in five panels in the afternoon. And you did that twice a week. What kind of impact would that |
| 616 | 02:03:26,100 --> 02:03:37,590 | have was just with one mini contract. We're not talking about five contracts or 15 contracts because the funded account says you can trade that money what would |
| 617 | 02:03:37,590 --> 02:03:49,290 | it do for you? A lot? What would it do if you just got one of them a week? And you had to discipline to stop and you were consistent with doing that? How's |
| 618 | 02:03:49,290 --> 02:03:59,880 | that failure? Busy in your mind already saying that's not enough? Because you see me and other students doing way more than that. That's incorrect. That's |
| 619 | 02:03:59,910 --> 02:04:08,760 | toxic logic. You can't think like that in the beginning. That's what gets everybody in trouble. And you're gonna find yourself in that situation where |
| 620 | 02:04:08,760 --> 02:04:17,100 | your heavens are like brass and you're gonna be praying please fix this please help me get better at this please please please even atheists find a way to find |
| 621 | 02:04:17,100 --> 02:04:18,480 | a way to start talking to Jesus then. |
| 622 | 02:04:24,540 --> 02:04:40,740 | completely avoidable. completely avoidable if you feel that way. If you feel completely disconnected from the from the market, you just can't focus stop it's |
| 623 | 02:04:40,740 --> 02:04:51,900 | going to be there. I promise you. I was on a road trip came back. Boom felt confident. Look what I was looking for. There you go to script and I had a |
| 624 | 02:04:51,900 --> 02:05:00,120 | losing trade. He saw me bleed because Okay, well Rebecca near patched up the I |
| 625 | 02:05:05,790 --> 02:05:16,620 | had a guy read somebody else's YouTube channel comments. The video wasn't even about me, but someone mentioned me. And they'll go, yeah, he doesn't do this and |
| 626 | 02:05:16,620 --> 02:05:28,500 | do that when he's trading. And he's examples. He doesn't even have the candle countdown thing. That's definitely a delay data. What are the things that people |
| 627 | 02:05:28,500 --> 02:05:38,130 | come up with as an excuse to simply not learn what it is I'm teaching for free, is ridiculous. It's ridiculous. But that's human, right? People are human, |
| 628 | 02:05:38,160 --> 02:05:49,350 | you're human, I'm human. We all have our things, our quirky little things you have to deal with. Mine is wrestling with proving, proving proving proving, |
| 629 | 02:05:50,250 --> 02:06:00,420 | every single time I go out and do anything, in my mind, I'm expecting to hear my grandpa say, that was good. But I'm never going to get it. So that's what keeps |
| 630 | 02:06:00,420 --> 02:06:12,600 | me going. All the accolades, all the handshaking the the high fives, and the way to go ICT keep going, you know, that you all do for me. It's appreciated, but |
| 631 | 02:06:12,600 --> 02:06:23,490 | it's never gonna scratch the itch that I'm looking for. Okay, so that's, that's not the motivation. You aren't the motivation. But when you find success, and |
| 632 | 02:06:23,490 --> 02:06:34,650 | you overcome your barriers, man, that's rocket fuel for me. When when you're honest with me, and I can track because I don't know all of you. But I have |
| 633 | 02:06:34,650 --> 02:06:46,290 | about a dozen of you on Twitter that are pretty consistent with posting things to me or whatever. Some of you, not among these dozen, but some of you always |
| 634 | 02:06:46,290 --> 02:06:56,010 | simply post where you did it right. And you've never said anything about how it was hard for you about that particular day. When I even I've said this day was |
| 635 | 02:06:56,010 --> 02:07:10,020 | hard. That to me indicates that you're sugarcoating. And you're looking for outward. Well, approval, that's not what you want to be doing either. You're |
| 636 | 02:07:10,020 --> 02:07:20,010 | inviting something that helps you feel like you're wearing a BandAid on a blister on the back of your heel. Because in the privacy, you're really doing |
| 637 | 02:07:20,010 --> 02:07:27,090 | damage to yourself. And when you get something that worked, you're coming out and showing, basically what they accuse me of the people that don't like me will |
| 638 | 02:07:27,090 --> 02:07:35,310 | say, Oh, he's cherry picking as I won yesterday, what the yes was going to do and it delivered it. So I only agreed in what you saw. And I showed you a day |
| 639 | 02:07:35,310 --> 02:07:46,860 | before trade. With the bond markets, that way you can use the same account wasn't just the reset type thing. So anyway, saw a lot of you asked him about |
| 640 | 02:07:46,860 --> 02:07:58,290 | bonds. I'll talk about bonds in the in the fall right before we get to November. But one markets enough? And the answer folks are asking about crypto does my |
| 641 | 02:07:58,290 --> 02:08:05,550 | stuff working crypto? I don't know. I have students that swear by it. I've never traded crypto in my life, I have no intention to ever trade in crypto. So |
| 642 | 02:08:05,880 --> 02:08:12,840 | there's that. Certainly, I changed that for you that if you've been waiting this long to hear it I should have said at the beginning, but I wanted to get to that |
| 643 | 02:08:12,840 --> 02:08:27,090 | story about almost getting held up at the in South Carolina. You imagine? Can you imagine like, I don't know. Like that was a it was a wild, wild event. But |
| 644 | 02:08:28,440 --> 02:08:36,720 | be careful. Be careful when what you're doing in the market. But really be careful in public now. Don't walk around watching your phone. And don't be |
| 645 | 02:08:36,720 --> 02:08:47,580 | flashing money or doing things and don't go shopping by yourself. Ladies. If you're going out and you're spending money, or you're buying stuff, you don't |
| 646 | 02:08:47,580 --> 02:08:55,200 | know, if you're being watched, followed back to your home, you know, it's it really has opened my eyes up to the potential for things that happen to people |
| 647 | 02:08:55,440 --> 02:09:04,770 | that are not being prepared. And we're going to just get more and more that over the summer. I think it's going to get wild. So what's the point of working so |
| 648 | 02:09:04,770 --> 02:09:14,280 | hard doing this and finding an extra stream of income if you can find it, and then just fall victim to someone else? Because you weren't paying attention. You |
| 649 | 02:09:14,280 --> 02:09:20,910 | have to be responsible. Respect the level of risk that's in the world right now. Just because we're in the United States doesn't mean bad stuff can happen to |
| 650 | 02:09:20,910 --> 02:09:34,830 | where you live in your neighborhood, right. So anyway, got that off my chest. I feel better now feel clean. Hopefully I didn't bore you too much. But you have |
| 651 | 02:09:34,830 --> 02:09:47,220 | to you have to know when to stop and be comfortable with it. And if you feel like you're not able to find your way. Everything you're trying to do doesn't |
| 652 | 02:09:47,400 --> 02:09:59,070 | seem to be working. Don't force it. take a week off. Simply just unplug. Don't even watch my videos. Don't watch my Twitter space or Twitter was called Twitter |
| 653 | 02:09:59,460 --> 02:10:11,340 | feed Ever don't even look at my tweets. Okay, deactivate notifications. That way, you can't be enticed to look at what's going on and take a week off, the |
| 654 | 02:10:11,340 --> 02:10:19,890 | markets are not going to change the algorithms stop working, it's not going to stop working. Rather, it's going to be there when you come back. But what's |
| 655 | 02:10:19,890 --> 02:10:34,020 | different is he's gonna come back with a fresh perspective. You come in, it's like a car after being washed. It just looks good. Feels good to be in it. And |
| 656 | 02:10:34,020 --> 02:10:43,470 | yesterday, I knew what I was looking for. I knew what to expect. I saw it. And there was, notice the difference between that and two weeks ago on that Monday |
| 657 | 02:10:43,470 --> 02:10:51,720 | and Tuesday, I was giving you levels I wanted to see price gravitate towards. Versus yesterday, where I mapped that out showed your chart is that that's this |
| 658 | 02:10:51,750 --> 02:11:01,650 | that's different. That's different, that's knowing what you want to see happen in price because everything is indicating it's likely to do that. Versus, okay, |
| 659 | 02:11:01,680 --> 02:11:09,360 | we're looking for a draw on the liquidity right now. That's tape reading, it's an understanding of getting a feel for where we're at building a narrative, |
| 660 | 02:11:09,960 --> 02:11:16,230 | versus knowing what the narrative is and saying, Here's what it's going to do. And this is what I want to see happen. That means if I get what I need in terms |
| 661 | 02:11:16,230 --> 02:11:27,780 | of an entry I'm in, I got in it fatigued, wanted to get through it faster, because I was tired, I regretted actually putting the trade on. If I think |
| 662 | 02:11:27,780 --> 02:11:38,850 | myself, do I just let my limit order go and go to sleep. Because that's about that's what I wanted to do. And I was thinking myself, I mean, just stay with |
| 663 | 02:11:38,850 --> 02:11:47,460 | it. But I don't want to, I don't have any more risk than I have right now. And I put the stop loss up to too soon. And it came hit me. But nothing changed the |
| 664 | 02:11:47,460 --> 02:11:55,440 | trade is just I put it up too soon. So that's okay, what I'm just gonna read back in. So the entry criteria for those that are wondering was me simply just |
| 665 | 02:11:55,440 --> 02:12:04,950 | getting back in because the original idea that I used, which was trading old new week opening gap, and the fact that we had three sweeps below and the market |
| 666 | 02:12:04,950 --> 02:12:14,550 | likely to go higher, because we traded down into that weekly fairway cup I mentioned a while ago. And the likelihood of trading up into that volume and |
| 667 | 02:12:14,550 --> 02:12:25,410 | bounce on the weekly chart and running out the swing high. I look at my chart to make sure I get the the right day here, January 30. So January 30, as high, I |
| 668 | 02:12:25,410 --> 02:12:40,320 | think that going forward is the next draw. And then how we work within the volume imbalance between August 22 2022 and August 15 2020, twos weekly candles |
| 669 | 02:12:40,740 --> 02:12:54,690 | on ES. So again, you'd find out on es M 2023 on trading view. I think that's it. So I've missed you are I've missed talking to you. I have a lot of really good |
| 670 | 02:12:54,690 --> 02:13:07,770 | ideas I want to incorporate into the lectures and teachings this week, after do some video work that we guys can catch up, fill in the blanks for spaces that we |
| 671 | 02:13:07,770 --> 02:13:21,510 | had for around April. So give me some more content and some lecture points. And we're opening up a new month in May. So seasonally, you want to be studying does |
| 672 | 02:13:21,510 --> 02:13:30,990 | the market provide and I'll share the the seasonal tendency that I'm talking about. I'll give you the actual chart. You already have it anyway, it's in the |
| 673 | 02:13:30,990 --> 02:13:39,630 | core content on my YouTube channel. But I'm going to show you why I'm referring to what I'm referring to and we can watch it real time and see if it pans out |
| 674 | 02:13:39,900 --> 02:13:51,270 | which will be interesting. Until I talk to you next time. I've enjoyed spending time with you today. I'll be quiet until we get into Monday morning. Enjoy your |
| 675 | 02:13:51,270 --> 02:13:53,130 | weekend. Be safe |