025-ict-tw-spaces-20230506-Time-Based-Setups-and-Models-A-Chapter-Preview
Last modified by Drunk Monkey on 2023-05-14 06:53
Outline
025-ict-tw-spaces-20230506-Time-Based-Setups-and-Models-A-Chapter-Preview-original
00:27 - Introduction to the new book.
All the new books will be doing this outside today.
Introducing some ideas in his first book.
Time-based setups and models in volume 1.
Time, time and theory.
04:29 - It was very very expensive to take trades back then -.
What it was like to trade 30 years ago.
Time is crucial for consistency and longevity.
06:36 - What is a time based trading model?
What the books will be about.
The importance of having a trading plan.
The 2022 model and the silver bullet.
Time-based need or influence in trading.
Expectations of interest in trading at certain times of the day.
The 2020 model.
13:57 - What do you mean by consistency and continuity in your trading?
Consistency and continuity in trading, not over-trading or being impulsive.
Professional traders are not surprised.
The negative is always going to overwhelm the positive.
Minding your own business.
17:45 - You need to have the same mindset about trading as you do with traffic.
Have the same mindset about trading as you do with traffic.
Trading during rush hour.
Keeping up with everyone else in trading.
The smith system for defensive driving.
The importance of anticipating thoughts and expectations of individuals.
Comparing and contrast the mindset.
24:19 - What are the characteristics of each trading session?
Why 90% of traders fail, and how to avoid it.
Characteristics of each trading session.
27:03 - You can’t treat the markets like a drug, you need to treat it like a business.
The importance of not treating the market like a drug.
Trading with ict.
Trading based on a rule-based business model.
Why 90% of people fail.
30:31 - The importance of the weekly and daily charts.
Trading in london vs new york.
The importance of the weekly chart.
Anticipate the likelihood of the weekly candle expanding.
Look at the previous day's range.
35:53 - The importance of looking at the previous day’s trading range.
The importance of looking back to the previous day's range.
How to become a better analyst.
How to use a 15 minute chart as a bellwether.
Looking for a single high.
39:17 - What’s going to happen as the market rallies.
London session is a run on liquidity for smart money.
London session is violent.
Anticipate and predict the future to be profitable trading.
Being 100% honest about trading.
Over-trading too much and not being a specialist.
No perfect student on the market.
45:36 - You are the deciding factor in whether you’re going to succeed or not.
You are the deciding factor in whether to succeed or not.
How to think about trading London.
What to look for in the lower 50% of previous day's range.
Best shorts.
49:46 - You have to condition yourself to do this -.
How long it takes to desensitize yourself to London trading.
Why London trading is volatile.
Find your own special time of the day.
Trading in pre-market hours.
Wait until 10 o'clock to take trades.
New york vs London trading.
57:07 - When the market is low probability, it’s not a trading environment.
The low probability trading environment.
The yellow belt from a white belt to yellow belt.
The growth curve is being elongated and pushed further into the future.
Time-based principles.
01:01:29 - Why he doesn’t like sitting down anymore -.
Showing examples and teaching the logic.
The one-hit wonder that works one way.
The importance of having a logical, role-based idea.
Trading in the morning.
01:05:39 - When it’s obvious you’re trading the lunch hour -.
Trading in the lunch hour.
The importance of backtesting all sessions.
Compounding the likelihood of failure.
The band-aid approach to drawdown.
New York session continuation of London session.
New York reversal profile vs market reversal.
01:11:46 - Looking for a continuation of what London is outlining.
Looking for a drop in liquidity between 10:10 and 11.
The problem is, not patient.
Lunch hour trading in new york.
Expectations for the lunch hour.
01:15:31 - Don’t just take my word for what I just said -.
How liquidity works and what to look for.
The harmonic platypus pattern is a circuit breaker.
Time has to transpire before lower prices start.
Markets will be flooded with willing sellers.
The first rule of fight club.
How to see the obvious real-time.
01:22:12 - You have to get used to winning. It’s not easy.
How to build yourself up as a trader.
How to become a 25-30 handle trader.
The fear of losing the first time.
The importance of taking a week off.
01:25:21 - You’re the problem, not me.
Going back to square one.
The biggest roadblock, the biggest barrier.
01:28:14 - Silverbullets -.
Silver bullets, fair value gap setup.
Looking for stops or inefficiency in the market.
Easiest and simplest approach to daily trading model.
The daily range for index futures.
01:33:25 - When in doubt, stay out.
Expectations and entering the trade are two different things in the beginning.
The market is predictable.
New york session optimal trade entries and breakers.
London session turtle suits.
01:36:32 - The advantages of these time periods -.
Time-based and specific in character trading sessions.
The importance of back-testing.
The magic trick for trading in the short term.
The one-minute chart model.
How many trades can be made in a day.
Why trading intraday is important.
01:44:12 - Don’t be an impediment to your success.
Find something that works for you and find profitability.
Digital currencies are coming.
Trading is not guaranteed to be accessible.
The end of the world is coming.
01:47:55 - What’s going to happen to the financial industry.
Banks failing and financial institutions going out of business.
Major disruption to the financial industry.
Money is a control mechanism, a central bank digital currency.
Every country is moving towards cashless
Food and money will be controlled in South Africa.
Controversial in the things he talks about.
01:54:48 - The world has never been the same since September 11.
The reality of being part of the world economic forum.
How to prepare for the pandemic.
01:57:04 - What’s going to happen to jobs in cities.
Learn how to grow food and be self-reliant.
The future of the industry is here.
02:00:05 - You can’t have too many cows.
Can't have too many cows or too many lamborghinis.
Everything about the market is a lie.
How to prepare for a pandemic.
The world health organization removed covid restrictions.
People still driving around in cars with masks on.
China is bankrupting every country's currency.
02:07:23 - If you have kids, if you have a family, you don’t want to have any more than what’s already coming.
No more more than what is already there.
The world is changing.
The importance of being a voice of reason.
The danger of fear mongering.
02:10:54 - It’s easy to feel complacent about going to work every day.
The american dream is a distraction.
How to make life comfortable and bearable.
The future of social credit in China.
The importance of a purpose-driven life.
The death knell for the dollar.
The slow erosion of the buying power of dollar.
02:18:33 - Why you need to limit your risk exposure.
The number of opportunities in a day is more than doubled.
Mastery is not a goal.
Fear, performance and performance anxiety.
The first stages of learning to trade.
02:22:58 - There is a stark contrast between anticipating something and then reacting.
The stark contrast between anticipating and reacting to a trade.
The fear of making money.
Warning signs to look out for in down close candles.
The new week opening gap.
Transcript
| 1 | 00:00:27,450 --> 00:00:40,080 | ICT: All the new books gonna be doing this outside today you'll probably hear some birds chirping maybe in a distance you maybe you'll hear landscapers |
| 2 | 00:00:40,950 --> 00:00:55,260 | cutting grass and maneuvers and stuff like that walk towards the chair. How are you doing? Are you doing good today, hope you're doing well. I'm doing well. I |
| 3 | 00:00:55,260 --> 00:01:07,620 | set the rest of the night last night we went to the shooting range last night me and my two oldest boys put several 100 rounds through were all mostly my my |
| 4 | 00:01:07,620 --> 00:01:19,410 | handguns. But my my son Caleb, he brought his Glock and that was his first time taking it to the rain. So it was interesting to see him cowboy up. But anyway, |
| 5 | 00:01:19,800 --> 00:01:35,700 | so it's a beautiful day out here today. By the way, I hope it's nice where you are. I generally do these very long, long winded Twitter spaces. And this one |
| 6 | 00:01:35,850 --> 00:01:45,990 | has the potential or could be one of those that could go for like six, eight hours, I could go on and on and on. But I'm kind of like introducing some ideas |
| 7 | 00:01:45,990 --> 00:01:56,010 | that I have in my first of three books. Some of the things obviously, you know, I talked in great detail in the past. And you can find all that information on |
| 8 | 00:01:56,790 --> 00:02:03,840 | my YouTube channel. So for the folks that are here that like to say, I'll see he's plug in a book, man, he's plugging a book, well, I'm gonna write book I'm |
| 9 | 00:02:03,840 --> 00:02:13,500 | writing for him. Three of them are all technical. And they expand on the things that are on my YouTube channel. But you don't need to know anything more. Once |
| 10 | 00:02:13,650 --> 00:02:21,300 | they were added to the YouTube channel, I mean, if you just work with that, never buy the book, or books from me, you'll be fine, you don't need it. But |
| 11 | 00:02:21,300 --> 00:02:31,560 | it's just for the folks that just simply want to know, more. Okay, so, or want to have something nostalgic for you 20 years from now, and I'm probably no |
| 12 | 00:02:31,560 --> 00:02:40,350 | longer here, whatever. You say I got his book. And I heard him talking about this stuff, real time when it was being released to the public. But one of the |
| 13 | 00:02:40,350 --> 00:02:52,740 | chapters in Volume One is time based setups and models. And I kind of like want to just broad brush some ideas and conceptual views on price action that I want |
| 14 | 00:02:52,740 --> 00:03:04,980 | to instill in your thought process as an analyst or a trader in the making. Even if you're experienced as a trader, if you're profitable, if you trade with other |
| 15 | 00:03:04,980 --> 00:03:14,940 | approaches and such. And you just like to listen to me that maybe not necessarily use my content, or my ideas. These are ideas that I think will |
| 16 | 00:03:14,940 --> 00:03:24,960 | complement every other form of trading. So that way everyone can put down their pitchforks and torches and not try to come at me because I always tell everybody |
| 17 | 00:03:25,500 --> 00:03:41,280 | that what I teach is the market everything else is subpar. This this idea of time, time and price theory. It started with me when I was listening to Ken |
| 18 | 00:03:41,280 --> 00:03:52,230 | Robert twist was which was the first person I looked at as a mentor in trading and let me make it very clear. He didn't teach me anything that was profitable. |
| 19 | 00:03:52,560 --> 00:04:02,190 | Okay, so I'm not suggesting he's someone to go and chase after he doesn't even do anything with trading anymore. But he produced this course or book if you |
| 20 | 00:04:02,190 --> 00:04:15,990 | want to call it and build on it. And it was more or less like an Introduction to Trading. And if my memory serves me correct, he really had a business plan with |
| 21 | 00:04:16,320 --> 00:04:24,330 | specific brokers so he was like an introducing broker that he sold a book and course around. And I'm sure he got kickbacks from the brokers because I was |
| 22 | 00:04:24,330 --> 00:04:34,020 | paying $100 Round term per contract, like everyone else back in the 90s and 80s. It was very, very expensive to take trades back then. And it wasn't until |
| 23 | 00:04:34,020 --> 00:04:46,230 | traders brokerage firms like Lindwall doc in the equivalent we would have will be considered then discount brokers where you would pay $35 or $30 per contract. |
| 24 | 00:04:46,680 --> 00:04:55,470 | And today you're hearing that you're probably cringing thinking man, that's expensive it was which meant that you had to be very selective in your trading. |
| 25 | 00:04:56,070 --> 00:05:06,000 | It'd be selective in your engagements to it Any particular market and you had to really know what you were looking for otherwise, you know, just the Commission's |
| 26 | 00:05:06,000 --> 00:05:17,580 | alone, and you're all down through the slippage that occurred would compound over trade after trade and a break, even trader couldn't even survive back then |
| 27 | 00:05:17,910 --> 00:05:28,410 | it would just be a matter of time before you were gone. Today, you have all the advantages of having very, very low cost, commissions and or spreads. And I know |
| 28 | 00:05:28,410 --> 00:05:37,380 | some of you complain about that, oh, this spreads too high, you're spoiled. You're absolutely spoiled, you have no idea what it was like trade 30 years ago, |
| 29 | 00:05:37,410 --> 00:05:45,900 | you have no idea No, no conceptual appreciation for the advantages that you have today. So when you have this inclination to want to complain about how the |
| 30 | 00:05:45,900 --> 00:05:57,660 | industry is this and that, you have such a wonderful, cheap, inexpensive approach to getting in his industry, whereas, you know, back then, it was a lot |
| 31 | 00:05:57,660 --> 00:06:12,480 | more expensive. So time is a crucial factor in consistency, longevity, and success. Meaning that you need to know what you're looking for. Why do the |
| 32 | 00:06:12,480 --> 00:06:21,720 | setups? Or why should the setups form? What's the basis or premise behind the setups? Like what makes your trade idea that you're about to take or what you're |
| 33 | 00:06:21,720 --> 00:06:33,030 | stalking or hunting? What makes it valuable? Is it something that's, you know, built on your impulsive tendencies to just look for something? Or is it rooted |
| 34 | 00:06:33,030 --> 00:06:42,720 | in something that sound and logic? I want to touch on a couple of things in this discussion, I don't believe we're going to go very long. And I usually say that |
| 35 | 00:06:42,720 --> 00:06:53,850 | in the past, and we go for hours and hours, but I don't want to kill the the gyms in this particular chapter. But I want to kind of give you an idea of like, |
| 36 | 00:06:53,850 --> 00:07:02,700 | what is it I'm going to be talking about in these books, kind of like bringing together all the conceptual ideas I've taught and even my own older students, |
| 37 | 00:07:03,120 --> 00:07:14,640 | they have been made aware of, and I've taught some things with them as well. But taking these conceptual ideas and making them into a model, you know, I could |
| 38 | 00:07:15,390 --> 00:07:23,970 | have said this many times in the past, I could make a model every single day, three or 65 days a year, and they would all be uniquely different from one |
| 39 | 00:07:23,970 --> 00:07:35,490 | another, all using the content that's already on YouTube channel. Now that sounds like an exaggeration, but I assure you it's not. Because what you think a |
| 40 | 00:07:35,490 --> 00:07:44,580 | model is right now, if you're new, or you have a trading model that already makes money for you, and maybe you've been trading before, finally, me |
| 41 | 00:07:44,580 --> 00:07:51,570 | discovering or parking yourself down into a Twitter space like this for the first time. And you might think, well, you know, I have a trading plan, I have |
| 42 | 00:07:51,570 --> 00:08:00,060 | this I have that I look for all these things to come into agreement. And therefore I now look for a trade entry. Well, that's wonderful. You're not my |
| 43 | 00:08:00,060 --> 00:08:12,840 | audience, but you're welcome to be here and sit in and you know, share some time together. My audience is the individual that has been introduced to the idea of |
| 44 | 00:08:12,840 --> 00:08:26,970 | my order block theory. My fair value got now like, since February, the the interesting new week, opening gaps, New Day opening gaps, and breakers and all |
| 45 | 00:08:26,970 --> 00:08:36,210 | the other PDA raises you've been made aware of, and you probably feel like, there's probably one better than addressed, I want to learn that one if ICT |
| 46 | 00:08:36,210 --> 00:08:46,020 | could just sit down and a Twitter space or do a YouTube presentation or do a live stream and say, Okay, if I were going to just tell you the best of the best |
| 47 | 00:08:46,020 --> 00:08:56,100 | and get right down to the nitty gritty where the rubber meets the road. This is the only thing that you would ever need to do. That doesn't exist, because |
| 48 | 00:08:56,100 --> 00:09:05,970 | they're all equally effective to me. Now from a mentors perspective, I found that certain PD arrays in certain particular models are a little bit easier, |
| 49 | 00:09:05,970 --> 00:09:16,710 | more palatable for students, whether there have been a long duration of time spending, you know, under my wing as an educator or if they just recently |
| 50 | 00:09:16,710 --> 00:09:31,380 | discovered me like 21 or 22 or this year. And that being like the 2022 model. And now the silver bullet that I released on Twitter, and I have a lecture |
| 51 | 00:09:31,380 --> 00:09:41,160 | coming for that as well. As a reminder, I have a lecture for the new week opening gap that'll be on YouTube channel tonight at 10pm. And tomorrow, Sunday, |
| 52 | 00:09:42,210 --> 00:09:52,050 | May 7 2023. I'll have a presentation for New Day opening gap. And Sunday this week. I don't know how much guys was going to allow me to do it but I'll have |
| 53 | 00:09:52,050 --> 00:10:06,810 | the silver bullet am and pm session model that we can have the rules for that and Golf and have some fun with that as well. What is a time based |
| 54 | 00:10:08,279 --> 00:10:20,189 | need or influence in trading? Well, let's think about like this. Maybe you have a job right now maybe you have a job that you go to, and or maybe you're older |
| 55 | 00:10:20,189 --> 00:10:27,929 | and you've retired or maybe trading has been an allowance for you to no longer have to work anymore. But you know what it was like to be in rush hour traffic, |
| 56 | 00:10:27,929 --> 00:10:37,529 | right? In the States and United States, we have generally two times a day where it's considered rush hour, and you don't want to be on the busy highways and |
| 57 | 00:10:37,529 --> 00:10:46,319 | byways because there'll be congested. They are typically in the morning, seven o'clock and nine o'clock in the morning, and an evening time or afternoon, it's |
| 58 | 00:10:46,319 --> 00:11:00,599 | 3pm to 5pm. Those two hours in both morning and evening session. If you look at traffic like trading, that is scheduled congestion, it's at scheduled volume, |
| 59 | 00:11:01,529 --> 00:11:11,279 | you can set a clock to it, you know it's going to be there. And if you travel like I like to do, I don't fly. I used to fly don't fly anymore. I was told not |
| 60 | 00:11:11,279 --> 00:11:19,259 | to do so and I'm not doing it. And I'll let you figure out what that means. But I'm not going up in the air, I have no business going up there anymore. But the |
| 61 | 00:11:19,259 --> 00:11:28,619 | idea is this. You can set a clock to volume in trading as well, just like traffic, you know, when rush hour in the morning don't occur, you know where |
| 62 | 00:11:28,619 --> 00:11:38,519 | rush hour is in the afternoon? Well, the same thing occurs in trading. And I want you to think about the importance of knowing when there is going to be |
| 63 | 00:11:38,549 --> 00:11:49,289 | scheduled volume inflows. What does that mean? Certain times of the day, there is a reasonable expectation that there's going to be a lot of interest to be |
| 64 | 00:11:49,559 --> 00:12:02,609 | trading, that's at the beginning of the trading sessions. Being like London, New York session am or for forex, traders, New York open kill zone. And or the |
| 65 | 00:12:02,609 --> 00:12:15,389 | London closed session for forex traders, were the lunch hour for index trading. And then you have the pm session, which is two o'clock to four o'clock. So you |
| 66 | 00:12:15,389 --> 00:12:29,909 | can anticipate setups that will form within those little specific time windows. Now as an educator, every time I have ever released something new, if we were to |
| 67 | 00:12:29,909 --> 00:12:38,189 | look at the flock, the herd, if you will, that follows any educator and we're going to talk about just me in this instance, whenever I release something new, |
| 68 | 00:12:38,879 --> 00:12:50,969 | okay, or if I share something that builds on more understanding about a particular asset, or a model or a pdra, something that gets everybody excited. |
| 69 | 00:12:51,269 --> 00:12:59,219 | It's almost like they want to forget everything that they've already learned. And they only want to just do that. This is the thing that he's been holding out |
| 70 | 00:12:59,399 --> 00:13:06,899 | this long, now he's releasing this, this is the magic bullet. Okay, you've been taught the silver bullet. Now this is the magic bullet, whatever they say, |
| 71 | 00:13:06,929 --> 00:13:15,599 | obviously speaking rhetorically. And unfortunately, that's not a good thing. And it may not feel like it's a good thing at the time feels like the right thing. |
| 72 | 00:13:15,599 --> 00:13:23,069 | Because impulsiveness in humans is what it is you feel like that, this is the thing you're looking for, this is the thing I've been looking for all this time. |
| 73 | 00:13:23,639 --> 00:13:35,309 | And that may be true for some of you, some of you when you get to that 2020 model, that are, in my opinion, are very simple rules that lead to a consistent |
| 74 | 00:13:35,909 --> 00:13:48,329 | setup, that is very easy to see, it's conceptually pleasing, because it doesn't demand a lot of moving parts. It's rule based, as long as you can see where |
| 75 | 00:13:48,329 --> 00:13:59,939 | liquidity is above old highs or below lows, and you have a bias something on a higher timeframe basis. You can use that model and be very consistent with it. |
| 76 | 00:14:00,329 --> 00:14:09,269 | And once the trade pans out, you stop and there's nothing else to think about nothing else to worry about. The problem is, some of you aren't content with |
| 77 | 00:14:09,269 --> 00:14:18,539 | that. And you want more and more and more and more and more. And I want to kind of pull you back. Okay, pulling the reins on you because you get a little too |
| 78 | 00:14:18,539 --> 00:14:30,959 | wild. Sometimes you want to do more than what's necessary in time helps control that. So what do we mean by that? In the beginning of your trading, when you're |
| 79 | 00:14:30,959 --> 00:14:41,969 | looking for consistency and continuity in your trading and not over trading, not being impulsive, not trying to react the price you want to be anticipating it. |
| 80 | 00:14:43,049 --> 00:14:53,399 | Okay, professional traders. They are not surprised by the events market action. They're not. I know that sounds impossible. I know that sounds like you know |
| 81 | 00:14:53,399 --> 00:15:04,319 | come on. Nobody knows this stuff ICT nobody can know it in advance. Well, around here we do And my students prove it without me holding them. They're trading |
| 82 | 00:15:04,319 --> 00:15:13,169 | markets, I don't even trade anymore. And they're doing exceedingly well. So that means they've learned this concept, this mindset, this approach to trading and |
| 83 | 00:15:13,169 --> 00:15:22,439 | independently doing it apart from me. So you can join the ranks, that's the, that's the very thing I'm doing here is trying to make you an independent |
| 84 | 00:15:22,529 --> 00:15:32,879 | thinking and price action engaging trader. So that way, you're not needing me to handhold you, I don't want to do that. I don't do that. And I don't sugarcoat |
| 85 | 00:15:32,879 --> 00:15:43,859 | anything, it's going to be a lot of effort for you to figure out what your model is. And unfortunately, there is no mold, the press you into, if it was I could |
| 86 | 00:15:43,859 --> 00:15:57,119 | be turning out traders like this every day. But unfortunately, the factors that bring with trading as a human being, you have character flaws. And you have to |
| 87 | 00:15:57,119 --> 00:16:07,619 | limit the exposure in these charts in these markets. Because your natural impulses, which are always going to be negative, the negative is going to |
| 88 | 00:16:07,949 --> 00:16:17,939 | overwhelm the few times that you are in the beginning, doing the right things at the right time. And only takes a small series of events that you did wrong with |
| 89 | 00:16:17,939 --> 00:16:32,279 | a mindset that was incorrectly Well, focusing on things that aren't that big of a deal. Worrying about which model is better. This guy's posting that he got a |
| 90 | 00:16:32,279 --> 00:16:42,989 | payout from this company, and he's doing it consistently. What's he doing? Or what is she doing, that are not doing? Well, they're minding their own business. |
| 91 | 00:16:43,019 --> 00:16:52,799 | Number one, they're doing what it is that matches their personality. And I've said this before, and when I first heard this idea expressed by Larry Williams, |
| 92 | 00:16:52,799 --> 00:17:02,759 | he had a keynote, speaking engagement there had a VHS tape of in the 90s. I first heard him talk about it, it just went over my head. Like that's not |
| 93 | 00:17:02,759 --> 00:17:11,189 | interesting, give me an entry pattern. Much like some of you. And that's why I get it, I understand that people that will say You talk too much get to the |
| 94 | 00:17:11,189 --> 00:17:21,509 | point, because what you want is give me the easy 123 entry pattern that's going to work most of the time, which means that always and it never has a losing |
| 95 | 00:17:21,509 --> 00:17:28,619 | trade. And I'm going to be able to over leverage because it will work and I can trust that I can over leverage the maximum amount of contracts that my broker |
| 96 | 00:17:28,619 --> 00:17:36,179 | will allow me or my funded account company will allow me to trade and and I'll be able to get these five figure six figure payouts and and go on social media. |
| 97 | 00:17:36,419 --> 00:17:45,899 | And I can act like a, you know, a warrior and call everybody out and do this and do that. And I can make a name for myself in that doesn't happen. That doesn't |
| 98 | 00:17:45,899 --> 00:17:59,429 | happen, folks. You need to have this same approach or mindset about trading that you do with traffic. If you were going to go away on a trip and you were doing |
| 99 | 00:17:59,459 --> 00:18:10,019 | road trip driving, are you gonna plan your departure during the peak of rush hour traffic? No, you're not? Mom, would you likely do it? Well before it before |
| 100 | 00:18:10,019 --> 00:18:21,179 | it happens that way you can get through the congested scheduled traffic jams around high congested cities. And then when you get past that the same thing |
| 101 | 00:18:21,809 --> 00:18:30,239 | after the lunch hour, or I'm sorry, after the rush hour of nine o'clock in the morning in the States, wherever you are. There's traffic Yes, but it's not |
| 102 | 00:18:30,239 --> 00:18:41,819 | congested or are bunched up, you can have a pretty easy movement from one location to the next. Unless there's an accident or something like that. Well, |
| 103 | 00:18:41,819 --> 00:18:54,959 | that same thing should be applied to your trading. Do you want to go in at the very opening of say for instance 9:30am If you're brand new to trading, you |
| 104 | 00:18:54,959 --> 00:19:03,539 | don't you don't know what you're doing that's equivalent to you being a new driver. Do you want to be going out there over the speed limit? Texting while |
| 105 | 00:19:03,539 --> 00:19:15,689 | you're driving? in rush hour? What's that recipe for disaster? Okay, I got a guy over here cutting a tree now. So that's not going to sound good on this |
| 106 | 00:19:15,719 --> 00:19:28,469 | recording. So let's take it inside here. Some of you were like I don't care. Just talk and others are like yeah, we don't like these birds chirping dude. Can |
| 107 | 00:19:28,469 --> 00:19:35,339 | you second give me some edit work for those that want to put these up on their YouTube channel. |
| 108 | 00:19:41,730 --> 00:19:52,860 | Alright, so you don't want to schedule your trading. If you're brand new at the very opening, like the first minute or two of trading because you know that now |
| 109 | 00:19:52,950 --> 00:20:01,920 | everybody's in your dog piling in to take trades. So you think everybody in there is going to be pushing them off? because they're buying pressure, or |
| 110 | 00:20:01,920 --> 00:20:09,660 | they're gonna be sending the market lower because of their selling pressure. And again, that's all misinformation that you're all trying to do something that |
| 111 | 00:20:09,660 --> 00:20:20,910 | they're incorrect time. And that compounds, the likelihood of you wrecking. Just like in traffic as a new driver, you don't do all those high speed maneuvers |
| 112 | 00:20:20,910 --> 00:20:30,780 | when you're inexperienced. You don't distract yourself with social media, during your driving or in your trading, it means keeping up with everybody else. You |
| 113 | 00:20:30,780 --> 00:20:40,230 | need to be minding your own business and watching where you're traveling. When you're driving, years and years ago, they taught defensive driving it was called |
| 114 | 00:20:40,230 --> 00:20:51,660 | the Smith system. And I learned a lot of defensive driving skills that really find their way in my teaching as a educator in price action, you may not realize |
| 115 | 00:20:51,660 --> 00:21:05,310 | it, but it has a lot of sound logic. You don't want to be reacting to the drivers around you. Now, obviously, we would have to in price action, you don't |
| 116 | 00:21:05,310 --> 00:21:13,350 | want to be reacting to the knee jerk reactions and lower timeframes, because you could be convincing yourself rather quickly. Oh, it's not going to do what I |
| 117 | 00:21:13,350 --> 00:21:21,870 | thought to undo let me do this because now this one minute chart is five minute chart has done this or that. And the same thing with driving, you need to be |
| 118 | 00:21:21,870 --> 00:21:34,110 | anticipating not only what you're going to do if this or that happens, but you have to drive the cars around you. As a CDL driver. You have to learn to |
| 119 | 00:21:34,110 --> 00:21:42,720 | anticipate when they're not going to come over into your lane without signaling. And it's probably a game you probably played in your own driving, you think |
| 120 | 00:21:42,720 --> 00:21:50,040 | okay, because I'll tell my wife all the time. So watch this guy up here. He's going to come over, he's not going to signal and he's gonna go over one more |
| 121 | 00:21:50,040 --> 00:21:58,050 | lane. He's gonna go up and race pass everybody else? How do you know that? 30 seconds later he does it. She's like, What in the world, whatever. And of |
| 122 | 00:21:58,050 --> 00:22:04,950 | course, she rolls her eyes. And I'm peacocking next year, like, I see TV, what are you talking about? What are you talking about? First, I'm going to know he's |
| 123 | 00:22:04,950 --> 00:22:13,470 | going to do that. So the same thing happens in the market, you have to anticipate the thoughts and expectations of individuals that are going to see |
| 124 | 00:22:13,710 --> 00:22:23,280 | price action. And they're going to anticipate nothing in the future, they're going to react, they're going to chase, which is why my Judas swing is so |
| 125 | 00:22:23,280 --> 00:22:37,380 | effective at the right time. Time. So there's a time and place for everything but you, you are not to try to react the price. Even in your entries, you're not |
| 126 | 00:22:37,380 --> 00:22:46,380 | reacting, you're anticipating when you're moving your stop loss, you're not reacting, you're anticipating when you're taking your partials, you're not |
| 127 | 00:22:46,380 --> 00:22:55,680 | reacting, you're anticipating it going to a specific level. So that way you can press the exit or have your limit orders there, the scale off your potential |
| 128 | 00:22:56,490 --> 00:23:09,300 | partial profits that always pay 100%, they never ever fail. So when we look at price, or when we're looking for setups, or we're trading a particular model, |
| 129 | 00:23:09,900 --> 00:23:20,970 | time is a very important factor. There has to be a reason for that trade to even materialize. And you don't want to go in there in the first few minutes of |
| 130 | 00:23:20,970 --> 00:23:30,960 | trading. And say, Okay, this is it, I'm going in because now the markets have opened, everybody else's dogpiling Everybody else is creating this congestion, |
| 131 | 00:23:30,960 --> 00:23:41,010 | like rush hour. And I'm afraid I'm gonna be left behind. So I have to do what I have to react to what what I see in the price action. So therefore I have to do |
| 132 | 00:23:41,310 --> 00:23:52,950 | whatever else is doing, and that's wrong. It's absolutely wrong. Now, compare and contrast that mindset, which is very stressful, mind you, when you think |
| 133 | 00:23:52,950 --> 00:24:07,440 | about it, how can you know, with any assurity what you're doing is statistically probable, of having continued success when you're just guessing. You're guessing |
| 134 | 00:24:07,440 --> 00:24:17,460 | you're reacting to what you think you're seeing in price when price is always fluctuating up and down. Now put that to the side for a moment and then think |
| 135 | 00:24:17,460 --> 00:24:26,190 | about it like this. Let's talk about each individual session. Okay, and some of the characteristics that each one of those trading sessions have, and how you |
| 136 | 00:24:26,190 --> 00:24:39,390 | should go into those trading sessions with the proper mindset for anticipation, not reacting. Because your job as a trader, unlike 99.999% of every other |
| 137 | 00:24:39,390 --> 00:24:51,720 | trader, teacher trader that wants to share what they think is good advice. Your job is not to react to price. It is absolutely not. And if you believe this |
| 138 | 00:24:51,720 --> 00:25:02,970 | statistics that 90% of traders actually fail. Why would you take advice from people that are all saying the same thing Have, you got to be able to react the |
| 139 | 00:25:02,970 --> 00:25:13,320 | price, your job is not to be able to predict the future, it is absolutely your job to predict the future. That's why most of them fail. Because they don't have |
| 140 | 00:25:14,280 --> 00:25:24,990 | the skill set number one, to anticipate things that are generically in price action. And they're all time based. You can set clocks to it. And that's the |
| 141 | 00:25:24,990 --> 00:25:34,230 | reason why I'm consistent. When I talk about things that should happen in the marketplace, the primary function behind the accuracy is I'm only really |
| 142 | 00:25:34,230 --> 00:25:47,640 | focusing on specific times. Because those times are algorithmic, and if there is an algorithm, and this is this for a moment, let's just put it aside from |
| 143 | 00:25:47,670 --> 00:25:59,730 | whether there is or isn't I? I know there is, okay. Most of you know, there is, but let's make the case for a discussion for the idea that maybe there isn't an |
| 144 | 00:25:59,730 --> 00:26:13,890 | algorithm. Okay, if there isn't one, how is it that a trader can go in and trust that a setup will form perform a specific function in price delivery, that we |
| 145 | 00:26:13,890 --> 00:26:27,360 | can anticipate? It will be hard to do that. Like what rule based ideas, apart from pattern trading, which I'm not a Pattern Trader, I don't look for price |
| 146 | 00:26:27,360 --> 00:26:40,530 | patterns. I look for inefficiencies, and liquidity. That's it. That's all there is. And I look for that in time. specific times of the day, there's very |
| 147 | 00:26:40,530 --> 00:26:52,770 | specific times of the day where you as a trader can say, I have to be able to control myself and not allow impulsiveness to come into the marketplace. And |
| 148 | 00:26:52,770 --> 00:27:05,550 | draw me in to trades that would equate to over trading, which is a problem even for traders that can be profitable. And maybe you have done this you you can go |
| 149 | 00:27:05,550 --> 00:27:14,760 | in and you can find a trade or two and get profits. But then you want to do something else. Maybe because you see me tweet something maybe you see other |
| 150 | 00:27:15,030 --> 00:27:25,290 | traders out there other influencers and you see them doing something and you can't get the dopamine hit that you know that they're getting when they win if |
| 151 | 00:27:25,290 --> 00:27:35,610 | they're even winning, you don't know if they're being honest with you. So you seek that hit that feel good that rail like on cocaine, okay, you want to get a |
| 152 | 00:27:35,610 --> 00:27:49,620 | high. You can't treat the markets like a drug. You can't treat it like you know, a bump of adrenaline. This is a business. You need the mind your business. And |
| 153 | 00:27:49,620 --> 00:28:00,420 | when you make money, the job is to keep the money. But ICT Listen, man, you don't understand. I had a trade, I was up 1200 bucks. And I allowed the market |
| 154 | 00:28:00,420 --> 00:28:06,480 | to scare me. I was looking at this guy on YouTube. And he said he was going to do this and do that it scared me I read one of your tweets ICT and it made me |
| 155 | 00:28:06,480 --> 00:28:15,930 | get out of the trade too early. And then I regretted it because in making my profit target and even more. But I got out of it because you scared me with a |
| 156 | 00:28:15,930 --> 00:28:23,970 | tweet. Or I saw something else that made me second guess myself. Okay, what's the root cause of that? It's not me, it's not the other person. It's not the |
| 157 | 00:28:23,970 --> 00:28:36,180 | other YouTuber or influencer. It's you. You didn't trust your model. So if you don't trust your model, and you're not following a rule based idea, and you take |
| 158 | 00:28:36,180 --> 00:28:45,420 | a trade off that could have paid your full profit, or more, you can't worry about or more. Because if your targets have limit orders on it, how can you get |
| 159 | 00:28:45,420 --> 00:28:56,310 | upset that it went past that more? Why should you be upset about that? Your business model was you were taking a trade to that point. Your business model |
| 160 | 00:28:56,310 --> 00:29:05,490 | says you had a stop loss at this point risking that much money you were anticipating in the beginning. But now you're reacting to the influences of |
| 161 | 00:29:05,490 --> 00:29:15,870 | maybe something I've tweeted, a student of mine has done other influencer, other trader other YouTuber. You're not trading your trading anymore, is it? It's you |
| 162 | 00:29:15,870 --> 00:29:29,610 | reacting. Reacting to trades, reacting to price reacting to other people's success or failures is a recipe for failure. You have to keep that stuff at a |
| 163 | 00:29:29,610 --> 00:29:37,770 | very small level of influence. And it's better really, to not have it at all. |
| 164 | 00:29:39,480 --> 00:29:49,170 | I promise when you guys get to the point where you know what you're doing, and you leave social media. You turn it off. Your trading is going to go through the |
| 165 | 00:29:49,170 --> 00:30:00,000 | roof. Your performance is going to be astounding. You're not going to care how you measure up to somebody else. And you're not going to worry about that. |
| 166 | 00:30:00,000 --> 00:30:10,410 | they're doing, how bad they hurt themselves, or how much money they made, or what their payout is, or where they're at on the scmo leaderboard. All those |
| 167 | 00:30:10,410 --> 00:30:23,400 | things are there to cause you to do more of what is likely to incur failure. The statistics are there. 90% of people fail doing this. So if you entice them to do |
| 168 | 00:30:23,400 --> 00:30:34,560 | it more frequently, with larger leverage than they should, you can trade with 15 contracts with your funded account challenge. Well, guess what? That is a recipe |
| 169 | 00:30:34,560 --> 00:30:45,510 | for them to get another reset fee from you. And my son went through that, oh, it's only 100 and some dollars or whatever it is. I'll get it. And I'm gonna |
| 170 | 00:30:45,510 --> 00:30:58,830 | prove that wrong. Okay, well done. You paid them, you made nothing. So he has to go back to square one, what square one waiting for specific times of the day. So |
| 171 | 00:30:58,830 --> 00:31:09,180 | let's look at the dominant session. Now, as far as indices, I haven't talked too much about indices, but we'll, we'll be doing that. And I actually got some live |
| 172 | 00:31:09,180 --> 00:31:18,630 | sessions will do during the London hours, what's up, I got a call out of work. I can't miss that ICD. There you go. And there's a patient, you can't react to it. |
| 173 | 00:31:19,560 --> 00:31:32,040 | So London by characteristic, what I'm referring to is, we always refer to things in New York local time. So whatever the time is, in New York, you need to have a |
| 174 | 00:31:32,040 --> 00:31:41,460 | clock set at your trading desk, that is always showing you New York local time. I don't care where you live in the world, everything algorithmically is running |
| 175 | 00:31:41,460 --> 00:31:50,910 | on New York time. I don't care who tells you otherwise. I don't care. Okay, it's just the way it is. Just submit to it. So when I talk about specific times of |
| 176 | 00:31:50,910 --> 00:32:06,600 | the day, it's always on the basis of New York. Okay, so London time, between two o'clock in the morning, New York local time, to 5am New York local time. That's |
| 177 | 00:32:06,600 --> 00:32:20,040 | a three hour window. And the sweet spot is between two o'clock and four o'clock. So those two hours but it can extend the 5am Generally, you're gonna get some |
| 178 | 00:32:20,040 --> 00:32:30,750 | kind of false breakout. Okay. And that's not earth shattering. There's always been some idea of expectation of anticipate some false breakout in London. And |
| 179 | 00:32:30,750 --> 00:32:42,450 | that's just the natural characteristic to it. What you need to be concerned about is where we are coming from, on the hard timeframe, weekly and daily |
| 180 | 00:32:42,450 --> 00:32:52,170 | chart. If you're trading in London, if you're not referring to the weekly and daily for your setup, you're trading blind. You have to look at what that weekly |
| 181 | 00:32:52,620 --> 00:33:04,050 | what's the importance of the weekly chart, Michael? Well, I talked about how you can anticipate, not react anticipate what where that weekly chart candle that's |
| 182 | 00:33:04,050 --> 00:33:13,950 | forming, that will form tomorrow, when it starts on Sunday, at 6pm. When all trading begins, now we're starting a new weekly candle. So you want to |
| 183 | 00:33:13,950 --> 00:33:25,800 | anticipate the likelihood of that weekly candle expand, expanding up or expanding down and you're looking for an inefficiency or stops, that's most |
| 184 | 00:33:25,800 --> 00:33:32,520 | likely going to be the draw, it doesn't mean you're gonna be right. Sometimes I get it wrong, it's okay, if you're going to, especially with the climate right |
| 185 | 00:33:32,520 --> 00:33:40,110 | now, we don't know what was going to break out. We don't know if the bank is going to close over here. We don't know if you know, the Feds gonna do that so |
| 186 | 00:33:40,110 --> 00:33:49,230 | many things that are compounding the difficulty right now. And anybody that tells you it's easy, they're lying to you. They're this champion, they're |
| 187 | 00:33:49,290 --> 00:33:59,790 | getting lucky sessions at the time, and they're probably not showing you all the times that they're losing. But you have to factor in what that weekly chart is |
| 188 | 00:33:59,790 --> 00:34:14,130 | doing likely to do. And that starts your bias bullish or bearish. And on the daily chart, you have to confer with the previous day's range. Now, let's assume |
| 189 | 00:34:14,130 --> 00:34:23,070 | for a moment that the weekly chart you think that there's going to be an expansion lower on whatever market you're trading. Now, this is both forex and |
| 190 | 00:34:23,880 --> 00:34:33,120 | index futures and commodities. Okay, so it's not when unless I say here, here's another general rule of thumb. Unless you hear me say this only works. |
| 191 | 00:34:34,530 --> 00:34:46,740 | Everything I'm teaching you works on forex, and it works on futures, index, futures and commodities. Okay. I don't know about crypto, I don't have any |
| 192 | 00:34:46,740 --> 00:34:55,890 | affinity for it. So this is gonna let you discover for yourself if it works, great. If it doesn't, I don't care. I don't care either way because I'm not |
| 193 | 00:34:55,890 --> 00:35:04,860 | going to be trading in it. So London If you're gonna look at the previous day's range, and let's assume that you're looking for lower prices, you think that |
| 194 | 00:35:04,860 --> 00:35:17,220 | that weekly candle is going to expand yesterday's daily ranges up close or down close. There's more advantage if the candlestick from yesterday is up close |
| 195 | 00:35:17,220 --> 00:35:32,520 | because you want to see a move that breaks below that yesterday's low. And once it does that, that lower quarter percent or lower third of that daily range. If |
| 196 | 00:35:32,550 --> 00:35:42,060 | you are in fact correct about your analysis, and it's going to go lower, based on the weekly chart, your sell setups gonna form in the lower quarter, or lower |
| 197 | 00:35:42,060 --> 00:35:51,000 | third of the previous day's range. Now by itself, that's not earth shattering, but I'm gonna tell you something right now, if you chase price action, and |
| 198 | 00:35:51,000 --> 00:36:01,380 | always get burned, go back and look at your losing trades. And you'll see that's exactly what you didn't see. So it has to refer back to a previous portion of |
| 199 | 00:36:01,380 --> 00:36:13,020 | the previous day's range. And this is not new, this is all in my core content. I teach this in core content. But because there's so much content, and you breeze |
| 200 | 00:36:13,020 --> 00:36:21,330 | through them too quick, like Netflix and chill, you're binge watching, it's so much information, you have to watch these videos multiple times. Because you're |
| 201 | 00:36:21,330 --> 00:36:29,100 | going to you're not going to have an appreciation for what I'm talking about because you haven't encountered it yet and price. And then when you start |
| 202 | 00:36:29,100 --> 00:36:38,700 | looking at it conceptually, and looking for an old news, then it's impactful, then it has much more meaning to you. And then you'll learn more about using it |
| 203 | 00:36:38,730 --> 00:36:47,190 | and how it will groom you into a better analyst. You can't be a good trader without becoming first a good analyst. And so many of you just want to be a |
| 204 | 00:36:47,190 --> 00:36:57,540 | rockstar trader, and not know how to read markets. And that never works. That never works. That's why you get these flash in the pan winners which can hold on |
| 205 | 00:36:57,540 --> 00:37:10,500 | to you like a gunslinger that just picked up a gun for the first time. And you got lucky. You got lucky. And now when it comes time to do a duel with someone |
| 206 | 00:37:10,500 --> 00:37:21,210 | has lived their life as a gunslinger you get gunned down. If you have the breath and you long enough to think about what you did, you'd be admitting Oh, I wasn't |
| 207 | 00:37:21,210 --> 00:37:34,200 | ready for this. So in London, you're looking for false breakouts. Okay, and you want to see, this is where you write stuff down, folks, you want to see some |
| 208 | 00:37:34,200 --> 00:37:44,880 | measure of a 15 minute or five minute relative equal highs inside of the range that would be in the lower third or one quarter of the previous day's range when |
| 209 | 00:37:44,880 --> 00:37:55,350 | you're bearish. Now some of you are like, I want you to do this on a video, can you just show me? Can you just listen? Because I'm explaining to you? This is |
| 210 | 00:37:55,350 --> 00:38:04,620 | how you learn how to do you go into your charts looking for it. And when you find it and you do examples of logging that and having dozens of them as |
| 211 | 00:38:04,620 --> 00:38:13,200 | examples, then it's more meaningful because you found them using these rules. Whereas if I just show you a chart, oh, okay, well, it doesn't mean anything to |
| 212 | 00:38:13,200 --> 00:38:22,170 | you. You didn't do any work to look for it. But when you see it, and you study how it reacted in price after that, okay, we're anticipating that future |
| 213 | 00:38:22,170 --> 00:38:32,250 | reaction by price we aren't reacting to price we're anticipating price to do these specific things, which is what if we're bearish in London you want to look |
| 214 | 00:38:32,250 --> 00:38:44,280 | for a single high or a relatively equal like equal highs inside of the previous day's lower 1/3 or one quarter part of the daily range of yesterday whatever the |
| 215 | 00:38:44,280 --> 00:38:54,450 | yesterday if it's a Monday, it's Friday's daily range otherwise it's whenever the previous trading day is that's pretty simple rules right folks. So in |
| 216 | 00:38:54,450 --> 00:39:04,410 | between two o'clock and four o'clock we would anticipate a rally above those relative equal highs on our five or 15 minute chart whichever one's easier for |
| 217 | 00:39:04,410 --> 00:39:15,300 | you to see with regardless you'll see it if you want to use a 15 minute chart as a bellwether that I use that as mine, but you can look at it on a five minute |
| 218 | 00:39:15,300 --> 00:39:15,780 | basis. |
| 219 | 00:39:17,310 --> 00:39:28,470 | And as it rallies above that, what's gonna be resting about those relative equal highs or single high by stops. And the characteristic for London session is to |
| 220 | 00:39:28,470 --> 00:39:41,040 | run up and entice traders to Chase had gone wrong. When in fact it's a function of running into buyside liquidity for smart money to absorb those my stops and |
| 221 | 00:39:41,040 --> 00:39:52,830 | be counterparty as they flood the market with buy orders. shorts are entered by smart money there. Because it's a run on liquidity. It's engineered to provide a |
| 222 | 00:39:53,070 --> 00:40:06,390 | entry mechanism for smart money to go short. It takes a lot of confidence to take that type of trade. Because usually in London, the Judas swings are very |
| 223 | 00:40:06,390 --> 00:40:19,230 | violent. And they're quick. And it feels like it's going to go up 100 pips. It's going to go up, you know, 80 handles on SMP look at this thing move, man, well, |
| 224 | 00:40:19,230 --> 00:40:28,980 | it's gonna 12 hands, look how fast it's moved, this thing's gonna keep on going. If you feel that way, you're reacting the price. When we're looking for that to |
| 225 | 00:40:28,980 --> 00:40:38,880 | be a run real quick to get to those stocks, so that stops can't be pulled. And once that happens in the orders are not pulled by the traders that have those |
| 226 | 00:40:38,880 --> 00:40:49,890 | orders resting there. We anticipate price rejecting there and going lower. Now, if you can't take that type of trade or entry, in the beginning, you won't, |
| 227 | 00:40:49,980 --> 00:41:02,730 | let's just be fair, I say this all the time. Buying sell stops and selling short by stops is one of the hardest things to do as a trader, because at the time |
| 228 | 00:41:02,730 --> 00:41:12,060 | when it happens, it's fast, it's furious, and it's scary. And you have to know what you're looking for, which is why you have to anticipate and predict the |
| 229 | 00:41:12,060 --> 00:41:22,590 | future. You have to be profitable trading is predicting the future, folks, I don't know why you want to argue with that. But that's what it is. Reacting the |
| 230 | 00:41:22,590 --> 00:41:33,900 | price. Okay, you reacted to what it did, and you entered in to a trade. Now what you just let whatever the wind carry you in the in the current without a rudder |
| 231 | 00:41:33,900 --> 00:41:43,860 | you just whatever happens happens, man, you know, that's real random. If that's well trading really is to hell with that I'm never going to do it, I would never |
| 232 | 00:41:43,860 --> 00:41:53,580 | do that. anybody in their right mind, it would go into a venture like that risking money, saying, Well, you know, you just got to see what happens. You |
| 233 | 00:41:53,580 --> 00:41:59,010 | know what that did for you. And you start your demo trade, right, you get up there and you just push the button on board. And you see if I can make 5000 |
| 234 | 00:41:59,010 --> 00:42:07,320 | hours in 10 minutes, and you lose. So you know that mentality what it does for you, it's not going to change with real money. Let me see what happens if I push |
| 235 | 00:42:07,320 --> 00:42:16,350 | the trade on oops, there it is, I got funded, I got through the the portion of where we pass it. Now, let me see if I can just make one of those real quick |
| 236 | 00:42:16,350 --> 00:42:25,740 | five figure withdrawals. Because if I get one of them, that'll be enough to carry me through even knowing that I don't know how to trade and you wrestle |
| 237 | 00:42:25,740 --> 00:42:32,250 | with all that stuff. Because you're trying to do stuff that you're not prepared to do. You don't know how to anticipate. You're reacting, but you call it |
| 238 | 00:42:32,250 --> 00:42:41,580 | anticipation. You may share it with the community and me that you found a trade, but you're probably not being honest about what you felt the entire time you did |
| 239 | 00:42:41,580 --> 00:42:50,730 | it, it was just that one that pan out for you. So I'm not trying to encourage that type of thing. In our community or in any of my students, you need to be |
| 240 | 00:42:50,790 --> 00:43:01,530 | 100% honest. And if you're struggling, find out what you're struggling on. But having a time based approach helps you identify where your problem areas are. If |
| 241 | 00:43:01,530 --> 00:43:10,290 | you're not trying to trade at a very specific time of the day. How are you going to able to measure your progress? How could I fix your issues for you, if I was |
| 242 | 00:43:10,290 --> 00:43:19,620 | to sit down with I'm not I'm not making this invitation for you folks on the same if you were granted the opportunity to sit down with me one on one side by |
| 243 | 00:43:19,620 --> 00:43:26,280 | side right next to each other as I sit here. So here's my problem here. I'm doing this I took a trade in London and you know this that no thing and then I |
| 244 | 00:43:26,280 --> 00:43:33,090 | saw this trade in New York, and I was doing this and doing it and then you know, I made some money there. And I was like, you know, I want to I want to go into |
| 245 | 00:43:33,090 --> 00:43:39,870 | the afternoon session. I'm gonna trade it last hour and s&p and then I lost everything. You know, what am I doing wrong? Number one, you're over trading |
| 246 | 00:43:39,900 --> 00:43:50,160 | too. You're not being a specialist, you have to be a specialist in terms of what market you can trade. And what time of day you're going to trade. See in your |
| 247 | 00:43:50,160 --> 00:43:58,020 | mind, you're thinking well, I can trade the london session, I can trade in New York open session, I can trade the lunch hour when they run on stocks. And then |
| 248 | 00:43:58,020 --> 00:44:04,770 | I can do the pm session. And I got the two silver bullets in the am session, the pm session, good grief, I can do this. And all of a sudden you're on your top of |
| 249 | 00:44:04,770 --> 00:44:11,520 | the leaderboard of HTML, and you're winning the Robins cup and you're boned everybody else away on on social media and I got it. I know that's what |
| 250 | 00:44:11,520 --> 00:44:25,710 | everybody wants to do. But you can't do that. You're learning all of this at your own pace. And some of you if not all of you are not providing the |
| 251 | 00:44:25,710 --> 00:44:37,980 | permission that you yourself require of yourself to take whatever time is necessary for you to learn how to do this. Books, authors, teachers, mentors, |
| 252 | 00:44:37,980 --> 00:44:50,160 | courses, products. None of that is going to remove the impact that you yourself, bring to this, the learning curve. It's going to be whatever it is for you, |
| 253 | 00:44:50,190 --> 00:44:57,990 | however long it is because of who you are, and what you wrestle with. And pretending that you don't have any of these problems that I talked about and |
| 254 | 00:44:57,990 --> 00:45:07,920 | other traders may refer to is nonsense because there is no perfect student on the market that came in with new baggage or new mental barriers. Everybody has |
| 255 | 00:45:07,920 --> 00:45:18,630 | their own things. And some of them may not be a point of which we're you overcome them. And it might not be feasible for you to do this. And then you'd |
| 256 | 00:45:18,630 --> 00:45:25,770 | have to submit yourself to someone who does it really well, and you buy their signals or setups or their product. And in that case, I don't think that's |
| 257 | 00:45:25,770 --> 00:45:32,970 | wrong. I don't you know, if someone can prove that they have something that works, or they can have a signal service that does well, and you can't do it |
| 258 | 00:45:32,970 --> 00:45:42,480 | yourself. I don't think there's any shame in that at all. There's no shame in that. Because it's difficult folks, you're you're the deciding factor in whether |
| 259 | 00:45:42,480 --> 00:45:52,290 | you're going to succeed or not. It's not the thing that you're using. It's you, it's you and what you are willing to do and what you're not willing to do. So in |
| 260 | 00:45:52,290 --> 00:46:02,820 | London, you're looking for false breakouts and runs above relative equal highs when you're bearish or a single high, that is inside of the previous day's |
| 261 | 00:46:02,820 --> 00:46:09,660 | range. Now, I know there's no chart here, but I want you to think about conceptually, let's look at it like this. If you have note taking instruments in |
| 262 | 00:46:09,660 --> 00:46:19,860 | front of you, this should be an easy thing for you to do. Let's just say hypothetically, you draw a rectangle, leaving room for a rectangle to the right |
| 263 | 00:46:19,860 --> 00:46:30,990 | of that. Okay, so you're gonna draw a rectangle, and at the top of that rectangle, you're gonna say 100 is the high and the low is 20. So you have a |
| 264 | 00:46:30,990 --> 00:46:41,280 | previous range of ad units, it could be pips, it could be points, it could be whatever. But we're going to say it's ad units. Then you're going to see where |
| 265 | 00:46:41,280 --> 00:46:50,460 | you open up at two o'clock in the morning, New York local time. Wait a minute, we open up ICT, where do you wait, you're not used to said, and I understand |
| 266 | 00:46:50,460 --> 00:47:00,270 | that the market starts trading at six o'clock. What are you talking about opening at two o'clock? Yeah, that now we have a new opening range. Two o'clock |
| 267 | 00:47:00,300 --> 00:47:10,650 | opening price. What is that the first opening price on the first one minute candlestick at two o'clock, New York local time, you want to note that. Now |
| 268 | 00:47:10,650 --> 00:47:24,030 | that's an important, that's an important price point. From that price point, you want to see it be if you're bearish, you want to see it be below the 20 level of |
| 269 | 00:47:24,060 --> 00:47:31,050 | the previous day's range has that so that rectangle would represent. And that's for example, let's just say at two o'clock on trading data you're in right now. |
| 270 | 00:47:32,220 --> 00:47:43,290 | Say it's 18 in reference to the previous day's range. So now you're below the low of yesterday's daily range. So from six o'clock, all right now to two |
| 271 | 00:47:43,290 --> 00:47:55,110 | o'clock in the morning. The market has done whatever it's done. If those highs that relatively equal high or a single high in the previous range between 20 and |
| 272 | 00:47:55,110 --> 00:48:06,480 | 80. If there's a single high or relative equal highs in that lower 1/3, or quarter point of that previous rectangle that you're drawing out that represents |
| 273 | 00:48:06,480 --> 00:48:14,970 | the previous day's trading, you're anticipating at two o'clock in the morning, on the trading day that you're watching price at right now. You want to see a |
| 274 | 00:48:14,970 --> 00:48:25,020 | Judas swing shoot up, you're going to anticipate that you're not going to react to it, you're waiting for it, you want to see that very thing happen. Now as an |
| 275 | 00:48:25,020 --> 00:48:34,530 | ultra short term shock scalper, you can buy that. But you have to be very nimble, because it can go up there and turn on a dime quickly. Because Monden is |
| 276 | 00:48:34,530 --> 00:48:44,040 | a false breakout characteristic time period when it runs up there. Why are we anticipating a run back into the previous day's range but only the lower quarter |
| 277 | 00:48:44,040 --> 00:48:53,370 | or 1/3 percent of the range? Because we don't think that the previous day's high is going to be taken out. And we don't think that half of the previous day's |
| 278 | 00:48:53,370 --> 00:49:02,670 | range is going to be a factor at all. The best shorts are going to occur in the lower half of the previous day's range when bearish. What did you say? |
| 279 | 00:49:05,130 --> 00:49:18,240 | The best shorts will occur in the lower 50% of the previous day's range. Where do they form above old highs inside of that range? Where you look for it, just |
| 280 | 00:49:18,240 --> 00:49:28,620 | like the algorithm will look for it. It's going to look into 15 minute high or highs or five minutes high or highs inside that range. So if you're going to |
| 281 | 00:49:28,620 --> 00:49:39,120 | five or 15 minute chart can't hide from you. It's right there. And we're going to anticipate you're going to anticipate the market running up there. And when |
| 282 | 00:49:39,120 --> 00:49:53,970 | it does, you paper trade it you tape read it you do not live trade it. You have to condition yourself to do this. It takes weeks and months to do it. Not a |
| 283 | 00:49:53,970 --> 00:50:04,560 | couple of weeks I've been doing I don't know what I'm doing. No you don't know you don't you do not It takes time to desensitize yourself to the fear that |
| 284 | 00:50:04,920 --> 00:50:14,520 | London can create. Because it's very, very volatile. It can run up and repeat lower. And really, if you know what you're doing, you can miss it for a second |
| 285 | 00:50:14,520 --> 00:50:27,630 | guess it and totally do harm to yourself. So in London, you're looking for turtle soup scenarios, okay? And continuation on the basis of the higher |
| 286 | 00:50:27,630 --> 00:50:39,780 | timeframe, order flow. Higher they low a day is what's formed in the London session. Most of the time, not all the time, most of the time. In New York |
| 287 | 00:50:39,780 --> 00:50:53,610 | session, this is going to be for forex traders in New York open kills, and in which is seven o'clock to 10 o'clock, New York time. If you are index trader, |
| 288 | 00:50:54,030 --> 00:51:02,970 | you can use that same time window as well. You use that time window before the opening at 930. Like between like, say seven o'clock in the morning, New York |
| 289 | 00:51:02,970 --> 00:51:17,850 | political time, to 830 you can trade that time window, when there is a really big high impact news driver for that day, for instance, like FOMC, okay, say |
| 290 | 00:51:17,850 --> 00:51:33,930 | FOMC, or let's say? Well, I will stick with that FOMC is probably the best case, explanation for why you would want to trade before the 30 hour. Because |
| 291 | 00:51:33,930 --> 00:51:40,560 | generally what will happen is, you'll get these really nice little price runs the reference point and I have executed and showed you this throughout the year. |
| 292 | 00:51:40,560 --> 00:51:47,670 | And last year, I was doing it too. And usually it's the time or examples where you see people saying, but didn't you say we have to wait for this. And we have |
| 293 | 00:51:47,670 --> 00:51:55,110 | to wait for 10 o'clock, it sucks, I'm giving you different models, that way you are allowing yourself to pick up on what you want to do. I can trade all of |
| 294 | 00:51:55,110 --> 00:52:06,420 | them. But I can't make you be able to trade all of them. I mean, over time, you can if you put the time into it. But you have to find your own special time of |
| 295 | 00:52:06,420 --> 00:52:16,890 | the day in the asset class that you trade. And that's what I'm covering here. I'm helping you refine your level of focus. So you can pinpoint what your model |
| 296 | 00:52:16,890 --> 00:52:24,960 | is going to operate in terms of times that what you're not doing more than than it's required. You're not diluting your attention. And you're also controlling |
| 297 | 00:52:24,960 --> 00:52:34,200 | fear of missing out. Because if you're operating in a business model or trading model that allows you to only operate in this two or three window time period of |
| 298 | 00:52:34,200 --> 00:52:45,390 | every individual day. You turn the charts off, and you walk away and you exercise discipline. Over time, you won't care what the market has done over |
| 299 | 00:52:45,390 --> 00:52:54,600 | here, or this time of day who made this money that you're trying to get better at this. You can't improve by worrying about how much other people me or anyone |
| 300 | 00:52:54,600 --> 00:53:03,780 | else is making or losing or how often we get it right or wrong. You can't do anything to make yourself better by doing that. So why are you worrying about |
| 301 | 00:53:03,780 --> 00:53:17,130 | it? If your pocket watching me or anyone else, or if you're entertaining other people that do that you are wasting your time, you're wasting time to groom |
| 302 | 00:53:17,130 --> 00:53:25,110 | yourself into the analyst that's necessary for that profitable trader to work with. Because the trader is not going to be doing anything except for what the |
| 303 | 00:53:25,110 --> 00:53:35,040 | analyst says is good to go. And you can't do all these trading sessions in the beginning you can't. Now you can study and back test all of them. That's not |
| 304 | 00:53:35,040 --> 00:53:45,000 | trading. That's a good use of your time. But you can't go in as a new trader trying to do all these things simply because you've heard about it, or I've |
| 305 | 00:53:45,000 --> 00:53:50,700 | talked about it. So therefore you're gonna go in there, you're gonna figure it out. You don't figure it out. That way. You study you back test, and you figure |
| 306 | 00:53:50,700 --> 00:54:05,940 | out where it fits for your life. That's the only figuring out you're doing does your life allow for you to trade in 11 hours? Most people can't. If you can find |
| 307 | 00:54:05,940 --> 00:54:19,380 | time to get in there and trade in pre market hours before 930 and look for a setup. Which means seven o'clock and 830. Okay, there you go. You can you can |
| 308 | 00:54:19,380 --> 00:54:26,730 | find a setup that will probably yield you an opportunity and then you're done while everybody else is waiting for the 930 opening and equities opening bell in |
| 309 | 00:54:26,730 --> 00:54:36,000 | New York to find their trade. Or if they trade the silver bullet model. They have to wait till 10 o'clock is funny when I see people. I'm taking trades. I'm |
| 310 | 00:54:36,000 --> 00:54:45,870 | doing something before 10 o'clock. They're like wait a minute, didn't you say we have to wait, who else I had to wait. You? I didn't say we? I said you wait |
| 311 | 00:54:45,870 --> 00:54:59,100 | until 10 o'clock. I'm not saying we wait till 10 o'clock. I said you I'm tweeting you wait till 10 o'clock. That's not me saying I'm not going to do |
| 312 | 00:54:59,100 --> 00:55:10,470 | anything else. For anything in addition to, because I have a varying spectrum of experience in terms of students, like I have long term students I've been here |
| 313 | 00:55:10,470 --> 00:55:18,120 | I've charter members that are in my mentorship, I have students that have been with me longer, before I did mentorship and never join my mentorship. And their |
| 314 | 00:55:18,120 --> 00:55:26,310 | level of experience with me is much more vast than yours. And then I had the neophyte had just come to me today in this discussion today, first time you ever |
| 315 | 00:55:26,310 --> 00:55:38,310 | heard me before and you're listening to it, you probably doesn't make much sense to them. But their experience with me is brand new. So when I counsel you to do |
| 316 | 00:55:38,310 --> 00:55:49,320 | specific things, or not to do certain things, that doesn't mean I'm limited to that. But to keep the growth of the entire community going, not just being a one |
| 317 | 00:55:49,320 --> 00:55:58,830 | trick pony, which you can clearly see I have a whole lot of ponies in my fold, like all kinds of models, okay. And my models work, because of the element I'm |
| 318 | 00:55:58,830 --> 00:56:12,300 | teaching here. Time. I'm looking for setups in the New York session. The characteristic for New York is a continuation of what whatever London did. When |
| 319 | 00:56:12,300 --> 00:56:23,760 | does that not occur? If the range expansion that occurred in London, and then continues into New York, and it trades to a higher timeframe, pdra, something |
| 320 | 00:56:23,760 --> 00:56:31,710 | that I would have been targeting anyway, which was the basis for the draw on the bias for the weekly chart and or daily chart. So don't worry, if it gets to my |
| 321 | 00:56:31,710 --> 00:56:43,140 | higher timeframe target, then what shifts in my analysis, market reversal profile. Otherwise, I'm looking for New York session to continue in the |
| 322 | 00:56:43,140 --> 00:56:51,690 | direction of whatever that higher timeframe drawl is on the weekly and or daily chart. And I'm going to submit to that. And I'm going to look for things that I |
| 323 | 00:56:51,690 --> 00:57:00,480 | teach you that the algorithm will show in price delivery, in efficiencies runs on stops the whole business, I'm looking for those factors to come in agreement |
| 324 | 00:57:00,480 --> 00:57:09,750 | with that. And if it doesn't materialize, or if it's wishy washy, it could be done and explained both directions. That's low probability. It's not a trading |
| 325 | 00:57:09,780 --> 00:57:19,530 | environment I'm going to trade in. And then I watch or I'll tell you, lets you know what we're looking at or watching it. So it gives you experience to see |
| 326 | 00:57:19,530 --> 00:57:26,700 | what it's like when it's not optimal, but still putting chart time. And you need to have that. And I have the other students that are coming here, because their |
| 327 | 00:57:26,700 --> 00:57:35,430 | attention span is the size of a net. And they want everything right now. It's already three weeks late, you just met me. And you want to get right to the |
| 328 | 00:57:35,430 --> 00:57:42,360 | point of a ticket trade or you don't have to talk him out. Or you don't have to talk him out. Because you're doing this and you're doing that and you're not |
| 329 | 00:57:42,360 --> 00:57:49,110 | entertaining me, this is not how I want to be taught, then go somewhere else. I promise you, there's a lot of people, there's gonna teach you wonderful things |
| 330 | 00:57:49,110 --> 00:57:57,480 | to get into the marketplace, that the results are not going to be what you would get in comparison here, you're not going to be in control of yourself, you're |
| 331 | 00:57:57,480 --> 00:58:02,610 | going to be constantly looking for a new high, not inequity, but in dopamine. |
| 332 | 00:58:03,930 --> 00:58:12,390 | And that's what social media traders and influencers present to you provide you I'm not trying to do that. Now. When the market performs a specific way, then |
| 333 | 00:58:12,390 --> 00:58:22,920 | obviously, I'll put a meme out there a little funny little you tweet of some kind to anchor it emotionally to you not to make it look like we're celebrating, |
| 334 | 00:58:23,160 --> 00:58:32,340 | you know, ego or anything like that. It's to make you feel like this was worth you watching it. If it causes you to smile or laugh or, you know, think to |
| 335 | 00:58:32,340 --> 00:58:40,260 | yourself, like Oh, I see these a ham. It anchored it. And that's all I'm aiming for. Because it's meaningful because you didn't take a trade. So I have to give |
| 336 | 00:58:40,260 --> 00:58:48,360 | you that cookie that that yellow belt from a white belt to a yellow belt. That's that little progression for you as a student, because you didn't take anything |
| 337 | 00:58:48,360 --> 00:58:56,370 | out of it money wise, you didn't lose any money, you didn't make any money. But I have to anchor it to something that you can recall, or inspire you to |
| 338 | 00:58:56,370 --> 00:59:05,730 | journaling. Because until it makes its way into your journal, it's wasted time and attention. And I'm gonna say that again, if you're watching or listening or |
| 339 | 00:59:05,730 --> 00:59:13,650 | look at my tweets, and you do not Journal, the things I'm calling your attention to you are absolutely wasting your time. Yeah, I'm wasting my time. I know this |
| 340 | 00:59:13,650 --> 00:59:23,640 | stuff, but you're wasting your time. And that that growth that learning curve is being elongated and pushed further into the future by you not doing the simple |
| 341 | 00:59:23,640 --> 00:59:35,160 | thing of simply logging the experience. What does that mean logging it framing it in your chart by time. When that went did that set up for him? In the times |
| 342 | 00:59:35,160 --> 00:59:44,070 | I'm talking about here. And we have a couple more I'm gonna get to but you look at it in the basis of time and how does that move fit in the grand scheme of the |
| 343 | 00:59:44,070 --> 00:59:55,320 | last three trading days? Where we are in terms of what the weekly candle was likely to do expand up scan down. Where did it occur in the calendar event for |
| 344 | 00:59:55,320 --> 01:00:04,650 | that particular trading week? Did it occur on the heels of a medium or high impact news driver No words, you look at the economic calendar, if a medium |
| 345 | 01:00:04,650 --> 01:00:17,820 | impact or high impact news event report or something like that, was it on the heels? Does it occur after that market report hits the wires, and people can see |
| 346 | 01:00:17,820 --> 01:00:32,370 | the data? Or was it in between a medium or high impact news day. All those factors mean something. And you have to find your own comfort, and how you're |
| 347 | 01:00:32,370 --> 01:00:41,670 | gonna trade I don't say traders need to be afraid of medium or high impact news days, we want those days. Because there's gonna be a lot of manipulation. And |
| 348 | 01:00:41,670 --> 01:00:48,120 | then if they're going to manipulate the market, that means they're going to punish one side of the marketplace, and we can see clearly what side is going to |
| 349 | 01:00:48,120 --> 01:00:55,860 | be punished. You know, I do this every single week, every time I sit down with you, I outline what I think's going to happen. And for most part, it pans out. |
| 350 | 01:00:56,100 --> 01:01:07,350 | Not always, but most of the time it does. And it's all based on time based principles. It's scheduled volume, inflows at these things occur, because this |
| 351 | 01:01:07,350 --> 01:01:15,630 | is where all the orders are going to come in. Or they're going to run for the pending orders that are existent in price action, and how you're going to engage |
| 352 | 01:01:15,630 --> 01:01:25,230 | that. And it may feel like a whirlwind of ideas that you're being confused by, because I'm always introducing something or I'm executing on a motto or approach |
| 353 | 01:01:25,230 --> 01:01:34,830 | that maybe I haven't taught you yet. But I don't like sitting down anymore. Because I've been here doing it long enough that people know that I can do this. |
| 354 | 01:01:35,940 --> 01:01:42,600 | And students know that I can do this. Even the people that don't like me know, I can do it. But they just want me to jump and dance around for them. Okay, that's |
| 355 | 01:01:42,600 --> 01:01:53,940 | entertainment for them. I want to be able to show you examples. And then teach you the logic that was utilized in it not, like I've done in the past, or I've |
| 356 | 01:01:53,940 --> 01:02:00,270 | taught many things theoretically say, Hey, here's conceptually, this is what you do. And then people go out there and they can't do it themselves. So they |
| 357 | 01:02:00,270 --> 01:02:10,380 | assume, Oh, it doesn't work wrong. You can't make it work. I wouldn't waste my time putting it into roles in presentations, if it wasn't logical. And if it I |
| 358 | 01:02:10,380 --> 01:02:24,060 | couldn't do it. So I've switched my MO, to now doing the thing, showing it and then going in and teaching it conceptually. And then I disarm them. Because I've |
| 359 | 01:02:24,060 --> 01:02:30,870 | done it. This is what I've done. And then I go back. And actually this is what I utilized. And then you can take that logic and go into back testing and see |
| 360 | 01:02:30,870 --> 01:02:40,440 | exist, not just an example, but exist in many other examples. And it might become your model. But you decide that I don't decide that. I want to be the guy |
| 361 | 01:02:40,470 --> 01:02:48,900 | that make it easy for all of you. Here's the one hit wonder, this is it. This is all you have to do do this, this this. And you'll be able to make money all the |
| 362 | 01:02:48,900 --> 01:02:56,490 | time and not lose any money. And that will be great. And I wouldn't monetize it, I would give it away for free. I promise I swear to God Almighty, if I had one |
| 363 | 01:02:56,490 --> 01:03:10,050 | thing that simply worked one way only had to do this one thing, it will be given to you for free by me. But practically, that doesn't exist. Realistically, it |
| 364 | 01:03:10,050 --> 01:03:20,100 | can't be obtained. Because all of us have our own individual quirky characteristics, their own personality. And you have character flaws. All of us |
| 365 | 01:03:20,100 --> 01:03:28,980 | do. And you have to limit your exposure to these markets because they're Rorschach inkblot. So you're going to see what you want them to show you. You're |
| 366 | 01:03:28,980 --> 01:03:40,140 | going to read into these candlesticks, whatever you want to see happen. Now, if you're anticipating things with a logical role based idea based on statistical |
| 367 | 01:03:40,140 --> 01:03:49,530 | probabilities and things that have occurred in the past, and that's your reason for doing it, then okay, fine, then I agree with you looking at that inkblot |
| 368 | 01:03:50,670 --> 01:04:03,420 | that these characters line up in forms of candlesticks, we see a narrative in here, versus, well, if it does this, then I'll do that. That's reacting. We're |
| 369 | 01:04:03,420 --> 01:04:11,310 | not reacting to price, we're anticipating it. So in New York session, whether you're a forex trader trading between seven o'clock and 10 o'clock in the |
| 370 | 01:04:11,310 --> 01:04:19,620 | morning, New York local time, or if you're an index trader, trading anywhere between, you know, is earliest seven o'clock in the morning, all the way up to |
| 371 | 01:04:19,650 --> 01:04:31,260 | 11 o'clock. You don't want to take any new setups after 11 Unless Now, here's the caveat new unless your model is the trade in the lunch hour, which takes |
| 372 | 01:04:31,260 --> 01:04:41,490 | much more experience in the beginning, I don't want you to do try to do that because you probably don't know very well where liquidity would be resting, how |
| 373 | 01:04:41,490 --> 01:04:50,910 | it would work against the rains, it's already formed for that particular day. You wouldn't know what liquidity pool to aim for. What specific low if you think |
| 374 | 01:04:50,910 --> 01:05:00,450 | about it when I do trades. Well, look at what happened on Thursday. You know, I did it real time I said I'm taking three of the remaining six conch mics off |
| 375 | 01:05:00,450 --> 01:05:09,750 | because now we're 5050 Would you have known enough to do that? Chances are probably not. But I left three contracts on in the event that I as the analyst |
| 376 | 01:05:09,780 --> 01:05:17,760 | is a traitor listening to the animals in me was incorrect. So if it was to go lower, I still had three on but I didn't have the six on that I had on at nine |
| 377 | 01:05:17,760 --> 01:05:28,170 | contract short to partials of below an old low want to limit then three off because it didn't continue and left three on with a stop that would if it got |
| 378 | 01:05:28,170 --> 01:05:37,650 | stopped out it was in the black and wouldn't have been wouldn't be a losing trade, it would be a missed opportunity on the final balance. Lunch trade things |
| 379 | 01:05:37,650 --> 01:05:49,440 | like that. It takes experience. And sometimes I'll get that lunch hour wrong. Which is why I don't do a lot of it. But when it's really obvious when it's |
| 380 | 01:05:49,440 --> 01:05:56,670 | really, really obvious, I share it with you. And you see people say you told us not to teach, you're teaching us not to trade and launch out here you're trading |
| 381 | 01:05:56,670 --> 01:06:07,230 | the lunch hour. I'm the teacher I'm teaching you when I can do it, when I'm comfortable doing it. It might be a model for some of you. And you disregard |
| 382 | 01:06:07,230 --> 01:06:16,710 | everything else out there. And that sounds crazy. But I'm making an allowance for who you are as a person. You don't know what you don't know yet. You don't |
| 383 | 01:06:16,710 --> 01:06:23,970 | know what impact certain things are going to be for you as a student, you don't know what it's going to be like, when you find your model, you're going to be |
| 384 | 01:06:24,000 --> 01:06:33,870 | something completely diametrically opposed to what you thought trading was all about. You find your profitable model. And you're consistently finding setups |
| 385 | 01:06:33,900 --> 01:06:41,280 | and you're gonna look back and say, I didn't know anything, look what I'm able to do. And this is what I'm doing. So all I have to do, if I just live in bloom, |
| 386 | 01:06:41,280 --> 01:06:50,670 | right where I'm planted, I'll do whatever I need to do monetized. I've handled consistently, every setup that you look for, if you just find five handles that |
| 387 | 01:06:50,670 --> 01:07:01,590 | net, you that minimum, you don't need to do any more than that. You literally can carve out independent wealth. And that is defined by however you want to |
| 388 | 01:07:01,590 --> 01:07:13,230 | define it. Whatever dollar amount given enough time, compound interest will allow you to get there. But you can't do that. If you're jumping around trading |
| 389 | 01:07:13,230 --> 01:07:22,560 | them in New York session, London session, afternoon session pm session. You're just trying to get in and do everything. No, no, no, no. No. Back test all those |
| 390 | 01:07:22,560 --> 01:07:28,200 | sessions. Yes, actively trade and anticipate your setup and every single one of them. No. |
| 391 | 01:07:29,820 --> 01:07:39,450 | The only thing you're doing is compounding the likelihood of failure, losing trades and drawdown and in your new What are you going to do when you have |
| 392 | 01:07:39,450 --> 01:07:47,910 | drawdown? You're gonna want to fix it real quick, because a band aid ain't gonna work for you. What's a band aid, take the booboo limited cover your your your |
| 393 | 01:07:47,910 --> 01:07:56,640 | loss, cover your little cut your paper cut, cover it up and walk away and let time do the healing. That means don't take any more trades. That's hard to do, |
| 394 | 01:07:56,640 --> 01:08:04,020 | isn't it? But you don't understand I gotta go I gotta go look at myself in the mirror ICT I did something I never should have done. I gotta fix it. You're not |
| 395 | 01:08:04,020 --> 01:08:11,520 | in the right state of mind to fix it. And you're going to look at these next sessions, like I'm covering here in the same trading day and think that you're |
| 396 | 01:08:11,520 --> 01:08:19,140 | going to have the skill set while you're in drawdown mentally. Not that not what I'm talking about the mental, the mental, but the financial aspects of what |
| 397 | 01:08:19,140 --> 01:08:32,040 | drawdown you may have incurred. You're in mental drawdown. You're now a dangerous wild animal. And you're going to turn yourself loose to your money to |
| 398 | 01:08:32,040 --> 01:08:45,030 | your account. a caged animal, a cornered animal poked and prodded now made aggressive, that's what you are, you're aggressively trying to take back with |
| 399 | 01:08:45,060 --> 01:08:56,190 | somebody or something or the market took from you. When you did it to yourself. The band aid approach is the right way. Limit it stop the bleeding. Come back |
| 400 | 01:08:56,190 --> 01:09:05,070 | when you're ready to do it again. But not the same session. That's how I brand new traders should do it not. I gotta fix it right now. No, you don't. Who said |
| 401 | 01:09:05,070 --> 01:09:16,680 | you had to you? The wounded animal saying that you're home, you're safe. You're in a position where you can't lose any more money you are out of the market. |
| 402 | 01:09:16,710 --> 01:09:26,790 | You've been stopped out or squeezed out. You're done. The damage is done. Stop the bleeding put a bandaid on it and come back when it heals. Put one sleep |
| 403 | 01:09:26,880 --> 01:09:37,860 | between your drawdown and your next trade. Use that as a rule based idea that yourself go to bed and sleep a whole night before you take another trade. It's |
| 404 | 01:09:37,860 --> 01:09:51,060 | hard but you desensitize yourself I'm sorry, I go on these. These rabbit trails and it's completely outside the scope of the notes here but I feel like I'm |
| 405 | 01:09:51,060 --> 01:10:01,650 | talking to somebody I don't know who it is. But if that resonated with you, you give me a notification on Twitter that you it found its home I'm in here but the |
| 406 | 01:10:01,650 --> 01:10:08,970 | New York session is continuation of whatever to London is. So if London was going down, and it has not reached your higher timeframe daily or weekly |
| 407 | 01:10:08,970 --> 01:10:19,560 | objective, we expect some measure of short term retracement and then continuation in the New York session until the higher timeframe weekly or daily |
| 408 | 01:10:19,590 --> 01:10:28,440 | objective that we will be reaching for as a draw on liquidity, the target, when that's hit in the New York session, then you are entering New York reversal |
| 409 | 01:10:28,440 --> 01:10:40,290 | profile, not market profile, where they have the vertical volume bars going horizontally across the chart that to me, I don't use that stuff. When I say |
| 410 | 01:10:40,290 --> 01:10:50,940 | profile, that's a, like a schematic, or a roadmap or a visual representation of how the markets should perform. If you were looking at it from like a line chart |
| 411 | 01:10:50,940 --> 01:11:02,130 | basis, how it should look after the fact. But we're anticipating it to perform or behave a specific way. So New York sessions continuation of London, and then |
| 412 | 01:11:02,130 --> 01:11:11,880 | New York goes into market reversal profile, where whatever happened in London in the early stages of New York, now reverse in the market goes a different |
| 413 | 01:11:11,880 --> 01:11:19,740 | direction, whether it's going lower, now will go higher. Or if it's going higher, it will now go lower in length, it hits the weekly or daily objective |
| 414 | 01:11:19,740 --> 01:11:34,530 | that we were aiming for, that framed our bias or premise behind our trading week. Silver Bullet inside of the am session, that time window is very, very |
| 415 | 01:11:34,530 --> 01:11:44,790 | specific. It's inside of 60 minutes. Now, that doesn't mean the entire trade is encapsulated inside that 60 minutes, but most of the time you're going to find |
| 416 | 01:11:44,820 --> 01:11:56,880 | it is. But you can find the entry in between 10 o'clock and 11. And all you're looking for is a continuation of what London and or New York is outlining. So we |
| 417 | 01:11:56,880 --> 01:12:05,010 | have a target we're looking for a drop in liquidity could be a new week opening up that we're aiming for, it could be a fair value gap above the marketplace |
| 418 | 01:12:05,010 --> 01:12:17,940 | that we're aiming for if we're bullish. And that drawn liquidity is what we're looking for a reach from that fair value gap that forms whatever the fair value |
| 419 | 01:12:17,940 --> 01:12:27,570 | get the first one that forms between 10 o'clock and 11. That one, you're gonna see that right there, that's going to be a catalyst for a minimum five handle |
| 420 | 01:12:27,570 --> 01:12:38,760 | run. The problem is you're not patient, you're impatient. And you're you're not going to sit still long enough to wait for that Fairbury get the form, you're |
| 421 | 01:12:38,760 --> 01:12:44,850 | not going to have your chart annotated where the draw on liquidity is going to be reached for so you're having all these indicators on your chart, because |
| 422 | 01:12:44,850 --> 01:12:56,730 | you're looking for things that qualify and quantify and confirm something that my concepts don't require an indicator to tell you I'm anticipating before your |
| 423 | 01:12:56,730 --> 01:13:03,570 | indicator shows whatever the indicator is going to show I'm already anticipating all that stuff before the candle is even formed yet that would constitute your |
| 424 | 01:13:03,570 --> 01:13:13,890 | indicator creating the setups that you're using him for. I already know when and how the market is going to shift before moving averages later on crossover. Like |
| 425 | 01:13:13,890 --> 01:13:23,250 | I'm way ahead of the curve, my students are way ahead of the curve. We're in the future. When we're trading our chart, we're trading the future, we're entering |
| 426 | 01:13:23,280 --> 01:13:33,810 | on a future move that we have a statistical probability that is going to likely form and go to a specific price level by a specific time. And everybody else is |
| 427 | 01:13:33,810 --> 01:13:43,890 | waiting for the indicators just talk to him. I'm sorry, I'm tone deaf to indicators. I don't have any interest. Now. If you find value in that, that's |
| 428 | 01:13:43,890 --> 01:13:59,400 | fine. But I'm not teaching indicators. I'm teaching independence from everything else except for open high low and close and time. The lunch hour. The New York |
| 429 | 01:13:59,400 --> 01:14:09,240 | lunch hour is technically 11 o'clock in the morning to one o'clock in the afternoon New York local time. So it's a two hour window. And the reason why is |
| 430 | 01:14:09,930 --> 01:14:19,800 | back in the days where we had open outcry and electronic trading hadn't really taken off yet. Sometimes if the morning session had a really nice move, guys |
| 431 | 01:14:19,800 --> 01:14:26,790 | would go grab a bite to eat because they felt like they would have a very busy afternoon session. So they want to go early, be the lunch rush to whatever it is |
| 432 | 01:14:26,790 --> 01:14:34,170 | that you know, they would go and run and get there. They want sometimes they would eat at their desk. And others would be just hopped up on goofballs, and |
| 433 | 01:14:34,170 --> 01:14:45,510 | simply not leaving the floor in this trade through the lunch hour. But lunch hour trading is a real thing. And the algorithm operates on that mechanism of |
| 434 | 01:14:46,050 --> 01:14:58,860 | reversing back to whatever their session in the morning stops. wherever they're at whether they're bull stops or apples BizStats or bear stops. Sell Stop or buy |
| 435 | 01:14:58,860 --> 01:15:10,800 | stuff rather buy sell had her cell side. And as an example, let's assume that we've watched the market go higher in London, and then we had a continuation in |
| 436 | 01:15:10,800 --> 01:15:20,310 | New York, and whatever the target is that we had for our weekly chart or a daily chart has yet to be reached. So we're still below it. Your expectation for the |
| 437 | 01:15:20,310 --> 01:15:30,450 | lunch hour between 11 o'clock, and one is you want to go through and look for where a relative equal low or a 15 minute low is, because that's exactly where |
| 438 | 01:15:30,450 --> 01:15:37,860 | the algorithm is gonna go. Don't take my word for what I just said. Don't just say because ICT said it, I believe it No, go back and look through your charts. |
| 439 | 01:15:37,860 --> 01:15:47,160 | And you will see what I just said, is algorithmically proven to you. It goes on every single week, it happens this way all the time. It does it all the time, |
| 440 | 01:15:47,160 --> 01:15:54,360 | it's flawless, it never fails, it's always in the chart, you can set your life around it as a model. This is one way that you can look outside of the am |
| 441 | 01:15:54,360 --> 01:16:00,720 | session, the pm session, and go right in there. Once you understand how liquidity works and what you're looking for. That could be your model, your |
| 442 | 01:16:00,720 --> 01:16:11,130 | setup. And I have done examples of that last year and this year, recording my entries. And you're buying those sell stops. As it runs underneath it, you're |
| 443 | 01:16:11,130 --> 01:16:23,670 | buying it. What makes it better if it's if there's a fair value gap, or volume imbalance, just underneath that low. That great there is a unicorn. Why is it |
| 444 | 01:16:23,670 --> 01:16:34,410 | going to go down here because it's going to pick up more orders to allow smart money. It's not selling pressure. It's not a lack of buyers that lets the market |
| 445 | 01:16:34,410 --> 01:16:42,210 | drop. That's all the BS that's told to you and books and other authors and people out there to say I've been in industry, I used to be a trader at a desk, |
| 446 | 01:16:42,240 --> 01:16:58,260 | I'm a market maker. No, you're a trader, with the religion. You are a dealer, they call it a market maker. I'm talking about the mechanism that is the market |
| 447 | 01:16:58,530 --> 01:17:12,570 | that was coded and brought to us as a price engine that causes the fluctuations in price. And in you chase it other tape or other traders, they chase it, they |
| 448 | 01:17:12,570 --> 01:17:26,400 | go on a buy and sell after it. It will use their human psychology to know that there will be trades printed at the levels they want. When the algorithms |
| 449 | 01:17:26,400 --> 01:17:29,220 | running, it's not going to go to some random level. |
| 450 | 01:17:30,750 --> 01:17:39,810 | It always goes to something that I've taught you as a PDE array. It's always like that. But yet you dismiss it as its buying and selling pressure. It's this |
| 451 | 01:17:39,840 --> 01:17:48,480 | Elia had a wave. It caught a wave. There was supply and demand buying and selling pressure took it up there, down there, whatever. It was my harmonic |
| 452 | 01:17:49,650 --> 01:17:57,570 | platypus pattern, something that, you know, it takes more faith to believe in that than simply there's an algorithm that controls how far price will go. You |
| 453 | 01:17:57,570 --> 01:18:06,030 | have a belief and understanding there's a circuit breaker, right? The market goes down this much. They halt trading, and it has to be a number of time. |
| 454 | 01:18:07,110 --> 01:18:17,460 | Interesting, isn't it? Time has to transpire. And the market needs to uptick before they'll let lower prices start. Well, what the hell do you think that is? |
| 455 | 01:18:18,750 --> 01:18:29,130 | That's control measures. You think that they're gonna let us John Q Public, Jane Q Public, we're going to be able to wreck the markets and crash and if we want |
| 456 | 01:18:29,130 --> 01:18:40,380 | to collectively READ IT folks thought that you were gonna do that last year didn't You didn't happen, did it? It did not happen. Sorry. Sorry. But I told |
| 457 | 01:18:40,380 --> 01:18:48,180 | you that was not going to work. But they used them. They'd let them think that they were pumping it up. They bought it and then they started selling and |
| 458 | 01:18:48,180 --> 01:18:54,150 | distributing it when they were doing what we're going to kill these market makers and they're going to kill these fund managers. We're going to put them |
| 459 | 01:18:54,150 --> 01:19:08,610 | out of business. No, no, that didn't happen. And they were laughing at all of you on Reddit. And I told you before it's gonna happen in lunch hour, that 15 |
| 460 | 01:19:08,610 --> 01:19:20,130 | minute low when it's been bullish, and we haven't hit that weekly or daily objective is going to roll down here it's going to go right below that low and |
| 461 | 01:19:20,130 --> 01:19:30,870 | it's going to engage those sell stops in the markets going to be flooded with willing sellers at a low price. Why pray tell would that be advantageous? Your |
| 462 | 01:19:30,870 --> 01:19:40,860 | smart money will be buying those sell stops to re accumulate new lungs add to or start new positions and wait for that higher timeframe weekly or daily chart |
| 463 | 01:19:40,980 --> 01:19:54,720 | objectives to be met. And in new watch the pm session roll through and reach higher to that target or get closer to it ever so slightly. That's that |
| 464 | 01:19:54,720 --> 01:20:04,080 | liquidity matrix understanding where you are and you have to know where the markets gonna go So that's the first rule of fight club here, you have to know, |
| 465 | 01:20:04,380 --> 01:20:19,500 | where is it going, you have to know that if you don't know that everything else afterwards, you're lost. If you don't know where you are going, where the market |
| 466 | 01:20:19,500 --> 01:20:29,760 | is being led to, it's an obvious level, it's in your chart. And that's what I'm sharing my experience with, I'm pointing to those things. I'm hoping that you're |
| 467 | 01:20:29,790 --> 01:20:38,430 | aligning yourself with, Okay, I'm going to submit this just studying price delivery in the basis of it's going there, and filter out all the things that |
| 468 | 01:20:38,430 --> 01:20:46,830 | will be opposing that as an idea in terms of trades, accepting the fact that there will be fluctuations that you didn't participate in, that's okay. That's |
| 469 | 01:20:46,830 --> 01:20:57,300 | discipline. That's you sticking with a rule based idea. And you're keeping your focus on what is the highest probable direction, the market goes up and down, |
| 470 | 01:20:57,300 --> 01:21:05,550 | folks up and down, up and down. But where it's going to ultimately, once it gets there, and then you can look back and say, Wow, yeah, I can see how it was |
| 471 | 01:21:05,550 --> 01:21:16,950 | obvious there. But I'm teaching you how to see the obvious real time. It's not easy for some of you. Others it is. But most of you are going to find that it's |
| 472 | 01:21:16,950 --> 01:21:25,110 | very hard to do that, because you want it to be easy, and I want to be able to make it easy for you. There is no other way to make it easier, you have to go |
| 473 | 01:21:25,110 --> 01:21:33,840 | through it, you have to condition yourself, you have to look for it, to repeat over and over again, within specific times of the day. So between 11 o'clock and |
| 474 | 01:21:33,840 --> 01:21:43,800 | one o'clock in New York, local time, you're looking for a run on stops, what stops the stops that have not been hit, and punishing those individuals that may |
| 475 | 01:21:43,800 --> 01:21:55,380 | have trailed their stop loss up below and all low or down blown out? Hi. If you're bullish, it's been going up a 15 minute low. Underneath that, that sell |
| 476 | 01:21:55,380 --> 01:22:01,710 | stops, it's going to run down there and take those and then you're gonna see it trade higher, even if it fails and just goes into a higher high and never |
| 477 | 01:22:01,710 --> 01:22:09,240 | continues after that. That's still tradable. For some of you would think that that's a failure. It didn't keep going up to my target on higher timeframe, |
| 478 | 01:22:09,240 --> 01:22:18,210 | charts, etc. That's a failure wrong. Could you get five handles out of it? And did you take five handles, that's how you start. That's how you build yourself |
| 479 | 01:22:18,210 --> 01:22:26,220 | up. That's how you grow. And eventually, you do that enough. And you start seeing setups that you know, you've been here before. Yeah, I can get my five. |
| 480 | 01:22:26,220 --> 01:22:37,740 | But let me take five off with half the position and leave a runner. And then you graduate to becoming a 10 handle trader. And you do the same thing for a little |
| 481 | 01:22:37,740 --> 01:22:46,650 | while. But that builds up. And then you start seeing this looks like it's one of those setups that gives me a 2530 handle run. Let me take off half at 10. And |
| 482 | 01:22:46,650 --> 01:22:54,690 | then leave a runner on. And then you start growing into being a 25 or 30 handle trader. But you just can't make a decision cold turkey one day. So you know |
| 483 | 01:22:54,690 --> 01:23:06,540 | what? I've done 12 Maybe 15 paper trades. And I've done to these five handle with my Live account. So I think I'm ready for 50 handle runs. It doesn't work. |
| 484 | 01:23:07,170 --> 01:23:19,230 | That doesn't work, folks, that does not work is so much that you have to grow into and allow yourself to feel what it feels like to watch your profits go up |
| 485 | 01:23:19,230 --> 01:23:29,520 | and down while you're new straight. I mean, you're talking about something that if you have multiple contracts on, we're likely to see 1000s of dollars go up |
| 486 | 01:23:29,520 --> 01:23:40,560 | and down in unrealized profit in the first time you can counter that. The natural impulses is I've had to get out right now. I guess it's stressful. All |
| 487 | 01:23:40,560 --> 01:23:49,050 | this extra money I'm making I've never done before is stressful. I gotta get the hell out of here. It doesn't sound possible, right? So you should you should be |
| 488 | 01:23:49,050 --> 01:23:57,330 | thinking this is great. This is gonna keep making money the first time you get there. It's scary. Because you don't want it to go away you're afraid it's going |
| 489 | 01:23:57,330 --> 01:24:04,530 | to go back to zero occur into a losing trade, which, unfortunately beginning tends to happen for people to get rushed to that point. They haven't |
| 490 | 01:24:04,530 --> 01:24:13,680 | desensitized themselves to winning. Because winning is something you have to get used to. It doesn't sound right does it hearing that you have to get used to |
| 491 | 01:24:13,680 --> 01:24:23,940 | winning I could get used to winning real easy now. When there's money associated associated with it. It is a very scary thing. Because now all of a sudden, it's |
| 492 | 01:24:24,660 --> 01:24:34,590 | MMA think about like this. If you have a trade and you take a losing trade, then you lose and you take another trade and you lose and you take a third trade now |
| 493 | 01:24:34,590 --> 01:24:46,530 | you know you're down maybe 5% Now you have analysis paralysis. you second guess everything. And now you know that looks like something you would have traded but |
| 494 | 01:24:47,160 --> 01:24:55,560 | I don't really want to take it I'm scared. Let's see if it works. Then it works and you're thinking oh man, I should have took that trade. Why didn't I take |
| 495 | 01:24:55,560 --> 01:25:04,470 | that trade because you have not grown in learning how to do this properly and you've traded too much, you lost too much. Because 5% is too much for a new |
| 496 | 01:25:04,470 --> 01:25:15,570 | trader, you've pushed yourself too far. So you have to let time heal it. That means take a week off. Come on ICT, me, I'm never gonna get to being rich, if |
| 497 | 01:25:15,570 --> 01:25:23,490 | you talk about taking time away from the markets taking this taking it, you're not going to be successful. If you think like that. You're the problem. You're |
| 498 | 01:25:23,490 --> 01:25:33,000 | impatient and impulsive, and you're reckless. And that can't be fixed by me, it can't be fixed by any other educator. And no product is gonna fix it. No |
| 499 | 01:25:33,000 --> 01:25:47,550 | resource. No black box, no, mentorships No, none of that stuff's gonna fix that because you have a problem. And that has to be corrected by you. Over time, |
| 500 | 01:25:47,790 --> 01:25:59,670 | going back to square one. And a lot of people aren't willing to do that. And those same people will always and perpetuate fail. In everything they do, no |
| 501 | 01:25:59,670 --> 01:26:07,230 | matter what approach they used to trade in, they're gonna fail. Because they will not accept the fact that they themselves are presenting the catalyst for |
| 502 | 01:26:07,230 --> 01:26:14,640 | their failure. They're prolonging the development because they want to do it their way habit, their way mentorship habit, their way, success story. Everybody |
| 503 | 01:26:14,640 --> 01:26:21,780 | wants to be a trailblazer. I get it, folks, I get it. They want to take something and make it their own. And let everybody say, Wow, here's your |
| 504 | 01:26:21,780 --> 01:26:31,320 | flowers. Man, you did this. And you did that? How about just making money? Who cares where you learned it from? Okay, who cares how long it took you. Because |
| 505 | 01:26:31,320 --> 01:26:37,290 | believe me, when you start making 100,000 hours a month, you're not gonna you're not gonna give a single fuck what anybody thinks about how you got there, how |
| 506 | 01:26:37,290 --> 01:26:47,520 | long it took them, you're not gonna care, even your own your own time. And pressure that you place on yourself will be completely insignificant. Because |
| 507 | 01:26:47,520 --> 01:26:58,980 | once you arrive there, nobody can take it from you. Nobody can change your mind about what you've done, the decisions you made to get that point. That's |
| 508 | 01:26:58,980 --> 01:27:12,060 | empowerment. All of you can get there. But all of you are the biggest roadblock. You're the barrier, you our time is going to be the same for every one of us. |
| 509 | 01:27:12,300 --> 01:27:21,990 | But you make it require more time because of the things decisions and all the factors that you bring into it. Your toxic thinking, your doubts, you're trying |
| 510 | 01:27:21,990 --> 01:27:29,430 | to keep up with everybody else, you're trying to measure up to this one channel measure up to that one, instead of just simply thanking the folks that are |
| 511 | 01:27:29,430 --> 01:27:30,570 | making it available to you. |
| 512 | 01:27:32,370 --> 01:27:44,160 | And using the advice and conceptual ideas, the proper way, not trying to reinvent the wheel. There's so many people out there trying to add to twist the |
| 513 | 01:27:44,160 --> 01:27:53,490 | things that I've taught. And that's not what you're supposed to be doing. You have no idea what they're routed on. You don't know what the logic is behind it. |
| 514 | 01:27:55,050 --> 01:28:02,580 | Remember, I had to take what is really out there that you will never get your hands on and had to create a language around it so that way, you can see it in a |
| 515 | 01:28:02,580 --> 01:28:13,260 | chart when it looks like this. But there's many times that things that create a breaker. You won't see that idea in the chart, but the same things happening. |
| 516 | 01:28:14,430 --> 01:28:27,450 | What you dark pools, another shorter space for another time. So silver bullets, you have a fair value gap setup that's very specific. And that 60 minute chart, |
| 517 | 01:28:28,230 --> 01:28:37,320 | or 60 minute time window, one hour. At 10 o'clock to 11 o'clock. You had the lunch hour that runs on stops whoever's been making money, that's what it's |
| 518 | 01:28:37,320 --> 01:28:46,530 | going to do is going to run down there. Even if it reverses in the lunch hour, that's still a trade also, if you can anticipate that drop down that say the |
| 519 | 01:28:46,530 --> 01:28:59,100 | markets been going up. London session, New York session. Now you're entering at 11 o'clock to one o'clock an hour. You can sell short, a one minute 2022 model |
| 520 | 01:28:59,550 --> 01:29:13,110 | and aim for that. 15 minute low. What? Yes, yes, Virginia? Yes, you can do that. That is a model in and of itself. What's wrong with it? Nothing. It might not |
| 521 | 01:29:13,110 --> 01:29:23,700 | fit your appetite. It might not feel like it's something for you. Honey, it pays. It pays the bills it makes ends meet and guess what car nerds get paid |
| 522 | 01:29:23,700 --> 01:29:34,680 | with it rent gets paid with mortgage payments, get paid with it. Vacations get paid for with it, wardrobes get paid with it. Retirement gets paid with it. So |
| 523 | 01:29:34,680 --> 01:29:46,860 | what's your excuse? What's holding you back? Something something's holding you back. And then you had the pm session. Afternoon. Between two o'clock and three |
| 524 | 01:29:46,860 --> 01:29:54,570 | o'clock the same thing you would expect to happen in 10 o'clock till nine o'clock AM session silver bullet? Well, look what we have here. Another 60 |
| 525 | 01:29:54,570 --> 01:30:03,390 | minute time window. We have to look for stops or inefficiency. Where's the market going? whereas it reaching for, you know, you had that old high you were |
| 526 | 01:30:03,390 --> 01:30:12,870 | aiming for all morning. It didn't get there. We have relative equal highs now across the afternoon what's it going to reach for? The weekly and daily |
| 527 | 01:30:12,870 --> 01:30:21,060 | objective hasn't been met about the Marketplace yet. So we're still bullish, wait for it short term shift in market structure, one minute, five minute. Wait |
| 528 | 01:30:21,060 --> 01:30:30,630 | for a very rare you get the form between two o'clock and three o'clock. And then when it drops down until when you're bullish buy in for that intraday high. If |
| 529 | 01:30:30,630 --> 01:30:37,830 | he can give you five handles, take it there, leave it, leave a run around, and see if you can get to that higher timeframe weekly daily chart. That's a |
| 530 | 01:30:37,830 --> 01:30:46,080 | triggered afternoon silver bullet. Simple, real simple. There's a whole lot more things you add to it to supercharge it, though. But that's the easiest, simplest |
| 531 | 01:30:46,080 --> 01:30:59,670 | little approach to that model, being there every single day. Even in choppy days, it's there. Oh, it's there. Every day. Then you had the last hour trading |
| 532 | 01:31:01,140 --> 01:31:11,130 | three o'clock to four o'clock. I've taught you several macros that exist in an hour. And now we're talking about the extreme of the daily range for indices. |
| 533 | 01:31:11,700 --> 01:31:18,480 | You're not trying to trade Forex back that that this design at one o'clock in the afternoon, that's it you're done for forex, don't touch it after that. I |
| 534 | 01:31:18,480 --> 01:31:28,830 | don't care how much you see it do this and do that you don't trade it. In London close between 10 o'clock and 12. I apologize, I skip through that and all my |
| 535 | 01:31:30,180 --> 01:31:42,840 | fever pitch about everything that's really outside the scope of this Twitter space that had in mind that 10 o'clock, two o'clock is the extreme range and of |
| 536 | 01:31:42,840 --> 01:31:52,800 | the daily range for your forex trading pairs. It can extend the one o'clock the generally between 10 and 12 year focal time, you can finish your whole business |
| 537 | 01:31:52,800 --> 01:32:03,720 | there and be done. But as index trader, you're entering the lunch hour. Now you roll out of say you're a forex trader, and you want to trade the london session |
| 538 | 01:32:03,720 --> 01:32:14,820 | in New York session for forex. And now you know that Forex goes a little bit colder. The rest of the day in the US hours, stop trading Forex, rollover |
| 539 | 01:32:14,820 --> 01:32:24,000 | indices, trade the lunch hour, whereas the 15 Minute stop. Whereas the stops who's made money? Where are they leaving their stop, because it's resting right |
| 540 | 01:32:24,000 --> 01:32:35,820 | in the marketplace, and the algorithm will gladly go down to it or go up to it. And there it is. There's a setup there. Then we thought last hour, that's making |
| 541 | 01:32:35,820 --> 01:32:48,360 | the high or low of the day for index futures. Now all the time most of the time, unless he reaches the daily or weekly objective intraday, and that will be the |
| 542 | 01:32:48,360 --> 01:33:03,270 | higher low of the day. If it has done that, then the afternoon last hour trading has to be traded from a scalpers mindset, looking for a 15 and higher if it's in |
| 543 | 01:33:03,270 --> 01:33:10,680 | that level, or if it's in an inefficiency above or below the marketplace. And that's your target and be content with it. Does it offer you five handles if it |
| 544 | 01:33:10,680 --> 01:33:27,600 | does get it and beyond? So I've walked you through a daily range, mentioned the characteristics, they're very generic. Do you think about price like that? If |
| 545 | 01:33:27,600 --> 01:33:37,050 | you haven't been thinking about price like that, you should, because in my mind, the inner musings of ICT when I'm watching the Daily range form, I have all |
| 546 | 01:33:37,050 --> 01:33:47,370 | these thought processes in my mind, and I'm anticipating certain things based on the logic I showed you and talked about here. I am not surprised. I am not taken |
| 547 | 01:33:47,370 --> 01:33:59,190 | aback and gasp when the market does something at any one of these times of the day. I'm expecting all this stuff. But anticipating it and entering the trade is |
| 548 | 01:33:59,190 --> 01:34:08,850 | two different things in the beginning. You need to just sit still and watch and you desensitize yourself you remove all the doubt all the fear all the |
| 549 | 01:34:08,850 --> 01:34:16,380 | trepidation about you being able to do this. Oh it's great, it's fixed it's fake. He only shows you the winning trades you this and that nothing you got all |
| 550 | 01:34:16,380 --> 01:34:26,940 | these excuses. You have to sort out all that's put the bed when you start seeing it happen over and over and over again. When you start seeing it live, pan out |
| 551 | 01:34:26,940 --> 01:34:44,790 | to script who script mine? Not Elliot's not Sam tydens Not Wycoff mine this market is absolutely predictable. But there's times in the markets gonna be a |
| 552 | 01:34:44,790 --> 01:34:57,540 | little fickle. Is is simply not gonna give you the service that you'd like to see. New York session optimal trade entries london session, Turtle suits that |
| 553 | 01:34:57,570 --> 01:35:11,100 | shift into 2020 To model or optimal trade entry breakers really do well in London reversal market profiles in New York session. Once the targets on the |
| 554 | 01:35:11,100 --> 01:35:18,510 | weekly and the daily chart is met and reached, chances are we have an intermediate term high or low. And then a breaker can be forming there as well. |
| 555 | 01:35:18,750 --> 01:35:25,440 | You see how you can anticipate all this stuff. But you have to see these things, you probably hear my son going crazy. He's in a tournament on this computer |
| 556 | 01:35:25,440 --> 01:35:40,890 | playing PC games. Gets nuts. But all of these individual times the day, the silver bullets are always continuation. There's there continuations of whatever |
| 557 | 01:35:41,100 --> 01:35:49,860 | is in motion at the time. If you can't determine what is in motion, don't take the silver bullet. How about that? That's the logic for that. It's simple, isn't |
| 558 | 01:35:49,860 --> 01:36:05,190 | it? When in doubt, stay out. So we walked through rules, how to go into time day, what timeframe of the day, you know, all these different sessions? When are |
| 559 | 01:36:05,190 --> 01:36:15,060 | you going to set up shop? What's it going to be for you? Are you going to be a London Boy are you going to be a New York shirt that trades are going to be a |
| 560 | 01:36:15,060 --> 01:36:25,440 | lunch hour? hero are you going to be a silver bullet shooter gunslinger in the morning or a gunslinger in the afternoon? Are you going to be a giant come |
| 561 | 01:36:25,440 --> 01:36:34,380 | lately and trade the last hour trading, there is no advantage over any of them. They're all equally potentially profitable. And they all have their advantages |
| 562 | 01:36:34,410 --> 01:36:49,020 | within themselves. Because they're time based and specific. In character. Each one has their own individual character. So you have to trust that this is |
| 563 | 01:36:49,050 --> 01:36:59,100 | enough. If you just do one of these sessions and make it your model. You will control fear of missing out, you won't have it. Because you're limiting your |
| 564 | 01:36:59,100 --> 01:37:10,440 | attention, your focus to one specific time of the day. And it meets in allows you to work within your life. See, you're trying to probably do something that |
| 565 | 01:37:10,440 --> 01:37:21,570 | your business that your school schedule or your family, your spouse, your children. Something's preventing you to be in the New York session. You want to |
| 566 | 01:37:21,570 --> 01:37:27,600 | do what I'm doing. You want to be able to do what the community is doing. But you can't do and you're frustrated, like man, what the hell wish this guy would |
| 567 | 01:37:27,600 --> 01:37:29,580 | talk about something else besides this time of day? |
| 568 | 01:37:31,410 --> 01:37:43,140 | I've just did today. Where are you in that? Because it checks somebody's box off everywhere. Every one of these time periods can be traded. I don't care where |
| 569 | 01:37:43,140 --> 01:37:53,130 | you live. I don't care where you live, what you're doing, you're going to have to make a sacrifice, you're going to have to folks, if you want this bad enough, |
| 570 | 01:37:53,160 --> 01:38:02,160 | you're going to sacrifice. And here's the thing, if you don't back test it and see that there is absolute validity to what I'm teaching and showing you forget |
| 571 | 01:38:02,160 --> 01:38:09,000 | the people that are making money with it. Forget all that, okay? These companies could be fake, they could be paying on their high paid actors by ICT, they're |
| 572 | 01:38:09,000 --> 01:38:15,960 | probably talking about money that didn't even exist this this make that argument is not true. But let's just say that, for instance, okay. You're looking at the |
| 573 | 01:38:15,960 --> 01:38:25,500 | old data, back testing and seeing it and then thinking, Okay, I understand the concept. And I'm gonna go forward and now watch it going forward within one of |
| 574 | 01:38:25,500 --> 01:38:37,500 | these time windows of the day. Is it a lot of time that you're investing for that particular trading day? No, no, it's not. That's an advantage. You're not |
| 575 | 01:38:37,500 --> 01:38:47,610 | sitting there like a zombie staring into the abyss of these candlesticks, and just not knowing anything, which is very frustrating. And it's draining. These |
| 576 | 01:38:47,610 --> 01:38:59,550 | markets are vampires. If you hook up the IV tube to you and let it take all your blood, it will be will suck you dry all the way to the mirror. So limit the |
| 577 | 01:38:59,550 --> 01:39:09,450 | exposure to it. If you can't find your setup in these times of the day, where if you lose stop, you know it's never gonna happen, you're never going to blow your |
| 578 | 01:39:09,450 --> 01:39:22,200 | account. You're never going to have major drawdown if you control your risk and keep it realistic and use real stops. You won't be fear of missing anything. |
| 579 | 01:39:25,170 --> 01:39:35,280 | You'll have a complete business model. And you won't have to work a part time job schedule with it's very small in terms of your time and attention is |
| 580 | 01:39:35,280 --> 01:39:43,470 | required. But you have to put a lot of time in the beginning when you're back testing and looking at old moves studying. Did these things exist? Or is he |
| 581 | 01:39:43,470 --> 01:39:54,300 | talking about as as again? I'm telling you go back and look at the charts you're going to see and it repeats all the time. But see what happens is you get caught |
| 582 | 01:39:54,300 --> 01:40:04,350 | up in all the new things I'm teaching all the new content all the new concepts give me a new trick ICT teach me on Another magic trick. Wow, about just using |
| 583 | 01:40:04,350 --> 01:40:13,950 | what I already taught right now. I've made it very simple. I talked about very specific times of the day. That is rule based, because the algorithm is going to |
| 584 | 01:40:13,950 --> 01:40:22,770 | operate. In these hours, a very specific manner, is going to deliver price. Buying and selling pressure is not going to be a factor, the algorithm will |
| 585 | 01:40:22,830 --> 01:40:35,160 | price in all the setups. That's why it sounds like arrogance. That's why people say I don't like his attitude to arrogance too cocky. That's because I know my |
| 586 | 01:40:35,160 --> 01:40:42,630 | shit. I know the market like the back of my hand, I know it. I know I'm not going to be surprised Monday, I'm not gonna be surprised on Tuesday, Wednesday, |
| 587 | 01:40:42,630 --> 01:40:50,910 | Thursday, Friday, it doesn't mean I'm taking a trade, it just means I know what I'm looking for. And if it meets what I'm expecting it all lines up. And I feel |
| 588 | 01:40:50,940 --> 01:41:00,930 | like it's something I want to do. Done, you'll hear about it. And I'll ask you do you want to see a dose and you'll watch me go in there. Like I've already |
| 589 | 01:41:00,930 --> 01:41:13,410 | seen it before a half. But nonetheless, you'll get that same skill set. But you're pushing it further in the future by trying to always change. Always |
| 590 | 01:41:13,470 --> 01:41:26,730 | transitioning to something else. That 2022 model that I gave on YouTube last year. That Man That thing is a strong model. And for the folks that say can you |
| 591 | 01:41:26,730 --> 01:41:32,910 | just get off these one minute charts ICT get off these intraday charts, I need something on a higher timeframe I want to be with Swing Trade, okay, go to a |
| 592 | 01:41:32,910 --> 01:41:43,770 | four hour chart. The same thing that you use, or I've been using on a one to five minute chart with that 2020 mile if you put on a four hour chart that will |
| 593 | 01:41:43,770 --> 01:41:53,160 | allow you to swing trade you got to wait for it takes a long time. It takes forever for the setups to pan out to your objectives. But guess what? working |
| 594 | 01:41:53,160 --> 01:42:03,300 | class hero at your model did you have to change anything, just the timeframe. But all the logic is still there. You're not going to get a lot of trades. |
| 595 | 01:42:03,810 --> 01:42:12,090 | That's the sacrifice that you're going to have to make at a higher timeframe swing trader, you're not getting a swing trade. As many times as you can get a |
| 596 | 01:42:12,090 --> 01:42:27,900 | day trade or a scout I can find dozens of trades intraday, my students can find dozens of trades intraday. But we can't force dozens of swing trades. They don't |
| 597 | 01:42:27,900 --> 01:42:37,680 | form that frequent. You can't because the higher timeframes are what they are. So if you like frequency, and to be able to have velocity in your money, you |
| 598 | 01:42:37,680 --> 01:42:46,590 | short term trade intraday, you have no overnight risk, no gap risk, what's gap risk, the difference between where we closed on 5pm. And where we open at 6pm. |
| 599 | 01:42:47,670 --> 01:42:59,910 | Where we closed on Friday, where we open on Sunday. That's gap risk. In years before, you know I didn't mind holding over the weekend. I didn't mind holding |
| 600 | 01:42:59,910 --> 01:43:13,380 | every night. I don't do that anymore. I will never do that in the future. I don't trust what can happen, they can do some crazy nonsensical thing. And all |
| 601 | 01:43:13,380 --> 01:43:25,740 | kinds of manual intervention comes in because of something happening in the world where you one country doesn't like what another country is doing. An event |
| 602 | 01:43:25,800 --> 01:43:40,590 | that may or may not be foreseeable occurs. And if you're wiped out a black swan event that we're in, we're in those conditions still, and it's getting more and |
| 603 | 01:43:40,590 --> 01:43:52,080 | more likely. All these factors make trading much harder. And other just competitors out there that like to sell their craft. And you'd like to use me as |
| 604 | 01:43:52,080 --> 01:43:59,730 | a as a sounding board to be able to say okay for for the people that don't like ICT come over my house, you know, I got this and I got that I can do this and I |
| 605 | 01:43:59,730 --> 01:44:08,820 | got cookies, go over there. I'm not saying don't do that go there, whoever Summit, get your attention. If you're not happy here, if you're not finding what |
| 606 | 01:44:08,820 --> 01:44:17,460 | it is you're looking for here, go do something else. Really do it, you might find something that works for you. I'm not opposed to that. And the same my |
| 607 | 01:44:17,460 --> 01:44:26,250 | stuff is superior to everybody else's. And it might still not be effective for you because you have whatever's going on in your head. And if they have |
| 608 | 01:44:26,250 --> 01:44:34,620 | something that is useful that it makes a connection with you as a trader, it helps you find profitability great. Don't let me be an impediment to that. I'm |
| 609 | 01:44:34,620 --> 01:44:44,190 | not never an impediment. But if you find profitability, don't come back and try to throw rocks at me and say, you asshole. You didn't teach me this stuff over |
| 610 | 01:44:44,190 --> 01:44:52,800 | here. So you know, I hate you, whatever. I'm paying for you that you're making money. That's what this is all about me and this is it. I want all of you even |
| 611 | 01:44:52,800 --> 01:45:03,120 | the folks that hate me, even the folks that can't find success in marketing their own stuff. I want all of you to do well because I know what's coming. I've |
| 612 | 01:45:03,120 --> 01:45:10,290 | known it, I knew they'd been follow me for a long time have known that I've been saying this, this was gonna come even when we were in good times, I told you it |
| 613 | 01:45:10,290 --> 01:45:22,740 | was common. It feels like, Well, maybe it's getting better, it ain't getting better, that is changing the way it looks. Because they have a lot more progress |
| 614 | 01:45:22,740 --> 01:45:34,260 | to make over the next 18 months. Central Bank, digital currencies are coming, your money is about to change and turn into something that you don't recognize. |
| 615 | 01:45:35,580 --> 01:45:45,570 | And it will have an on and off switch, you don't perform or behave the way they want you to do. You can't spend your money the way you want to spend it. And |
| 616 | 01:45:45,570 --> 01:45:52,920 | you're gonna get control of everybody like that. Because you can say, I'm not going to do this. And I'm not going to do that, I'm going to resist until they |
| 617 | 01:45:53,160 --> 01:46:01,530 | turn your food, purchasing power off, and you have children that are starving. And suddenly, everything else that you've said in the past is going to mean |
| 618 | 01:46:01,530 --> 01:46:11,550 | nothing. Because you want to make sure your your family's fed. Like I said, I don't have all the answers. But I'm doing whatever I can to have a clear |
| 619 | 01:46:11,550 --> 01:46:20,970 | conscience that if it's feasible for us, there's nothing guaranteed that trading is going to be accessible like it is right now these funded accounts, regulation |
| 620 | 01:46:20,970 --> 01:46:34,800 | can come in change all that. work could be permitting it, and then allow that type of thing and be regulated. Or we could have something happens, where it |
| 621 | 01:46:34,800 --> 01:46:48,180 | disrupts the markets for a while. Imagine this for a second. And in closing, I want you to think about something here. If someone were to told you that the |
| 622 | 01:46:48,180 --> 01:46:59,490 | whole world was going to come to a screeching halt, over something that was invisible, had the ability to kill you if you stood up in a restaurant, but it |
| 623 | 01:46:59,490 --> 01:47:13,770 | was okay for you to sit down in a restaurant. So it was only effective at certain heights while in the restaurant. That the event, okay, that startled |
| 624 | 01:47:13,800 --> 01:47:26,010 | everybody in the thinking the end of the world was right here upon us. And we're all gonna die from some plague. In every global industry came to a screeching |
| 625 | 01:47:26,010 --> 01:47:30,900 | halt. You couldn't travel, you can't go anywhere, you can't do this can't do that. |
| 626 | 01:47:32,370 --> 01:47:41,040 | If someone would have told you that was going to happen a year before two years before, and that we wouldn't be allowed to see people at funerals that we loved. |
| 627 | 01:47:41,220 --> 01:47:50,400 | We couldn't visit them in the hospital. We couldn't do anything we couldn't even go to work unless you had this remedy. They said you all would have laughed and |
| 628 | 01:47:50,400 --> 01:48:05,010 | said there's no way in the world. No way in the world this would ever happen. And yet it did. The damage that has done. We're just now coming to grips with |
| 629 | 01:48:05,010 --> 01:48:16,830 | it. And you're seeing banks failing, you're seeing financial institutions that we're going to they're going to go out of business, big names are going to go |
| 630 | 01:48:16,830 --> 01:48:33,810 | out of business. All this stuff is designed. And it's not outside of the realm of potentially possible that we could have some kind of major disruption to our |
| 631 | 01:48:33,810 --> 01:48:46,620 | financial industry, in the form of investing 401k. I've always said that the 401k is a perfect little. It's like a big stop loss. It's a liquidity pool that |
| 632 | 01:48:46,620 --> 01:48:59,850 | they're going to read. Think about all these people are here to have contributed to their 401 life savings in their 401. That's a big pocket of money sitting out |
| 633 | 01:48:59,850 --> 01:49:11,070 | there collectively across a lot of people's retirement accounts. It may not be individually a large amount of money and for some it is but not a lot of people |
| 634 | 01:49:11,580 --> 01:49:20,250 | have millions of dollars in a 401k. But what happens if they have like 100,000 or 150,000 and do that over millions of people, hundreds of millions of people |
| 635 | 01:49:21,690 --> 01:49:36,570 | to have their retirement account even investing in the company they worked for invested in with them. We have a unpayable debt we have we can't pay that. If |
| 636 | 01:49:36,570 --> 01:49:46,200 | you knew how much it would take for every individual person on our country to pay that on that debt. It's It's shocking. And they're going to raise the debt |
| 637 | 01:49:46,230 --> 01:49:57,210 | ceiling again and keep calling it a debt ceiling and it keeps getting moved up. It's not a debt ceiling. They are absolutely going to bankrupt our country to |
| 638 | 01:49:57,210 --> 01:50:08,370 | the point where there is Nothing, money won't have the same value that it has right now. And I told you last year, okay, for the folks that didn't come into |
| 639 | 01:50:08,370 --> 01:50:20,280 | the sort of spaces I told you last year, watch Saudi Arabia, watch all the other countries. You know, we're in some deep shit if everybody starts turning away |
| 640 | 01:50:20,280 --> 01:50:34,050 | from the dollar. And here we are. Months later in spring, like I told you, April, May, you'll start seeing. There it is. It's happening. It's unfolding |
| 641 | 01:50:34,080 --> 01:50:48,330 | Exactly. As I told you, in 2016, before Trump was elected, and I had never voted ever in my life, and I was not I was not Trumper. I'm not someone that falls in |
| 642 | 01:50:48,330 --> 01:50:58,890 | line with this I Galleon, though, it's, it's an illusion of choice, you think you have a choice? You don't. They're all players in this theater. The whole |
| 643 | 01:50:58,890 --> 01:51:12,300 | world's a stage. And money is a control mechanism, where it used to be a tool. Now it's a control mechanism. We're going to be told what we can and can't do, |
| 644 | 01:51:12,300 --> 01:51:23,190 | because our money will be the control catalyst. Think about it. It's a central bank digital currency, you can't get mad at the establishment and say, Man, fu |
| 645 | 01:51:23,220 --> 01:51:32,070 | I'm going to the bank and keep my money out and sticking it in mason jars and putting them on Backyard. because cash is going to be there. It's going to be a |
| 646 | 01:51:32,070 --> 01:51:43,620 | digit that they can turn on and turn off. So how are you going to fight against that? You can't, which is the reason why they're doing it. We want to put |
| 647 | 01:51:43,620 --> 01:51:56,760 | everybody in a system where they can access resources that everybody else has, they're gonna sugarcoat everything, every excuse as to why everybody has to have |
| 648 | 01:51:56,760 --> 01:52:05,460 | this new digital ID, they're gonna have all these new things that locks your money up. And you can't ever take it away from them. When all your real money, |
| 649 | 01:52:06,480 --> 01:52:16,680 | they have it, the bank owns that money. Everything that I have in the bank isn't technically mine until I have it in my hands. And it's going to a cashless |
| 650 | 01:52:16,710 --> 01:52:27,270 | system. I told you all this stuff years and years ago, and we're seeing it. And it's not just in America, it's every country that's going to roll out a central |
| 651 | 01:52:27,270 --> 01:52:33,990 | bank, digital currency. And yeah, New South Africa said, Well, we're resisting it, you're resisting it for a little while, but it's gonna happen, whether you |
| 652 | 01:52:33,990 --> 01:52:49,620 | like it or not. It's gonna happen, folks, it's happening. They're going to be able to stop everybody from protesting because food and money will be |
| 653 | 01:52:49,620 --> 01:53:00,840 | controlled. And I don't know all the answers, I don't even know if you being successful as a trader, will be enough for some of you. But it's the only thing |
| 654 | 01:53:00,840 --> 01:53:11,400 | I can do that feel like I'm doing something positive, and not have a guilty conscience. And I'm not exempt. And anybody else out there that has money is not |
| 655 | 01:53:11,400 --> 01:53:21,090 | exempt from this. And I am very controversial in the things I talk about. And the more time I spend on social media, the more likely I'm going to say |
| 656 | 01:53:21,090 --> 01:53:31,200 | something that's more controversial. And they're going to be adopting a social credit score. Just like in China, that's what's coming here. In America, it's |
| 657 | 01:53:31,200 --> 01:53:39,240 | going to come to your neighborhood and your state and your country, it's going to be there. Whether you're Republican or not, it's happening regardless. You |
| 658 | 01:53:39,240 --> 01:53:47,820 | can't stop it, it's going to happen. So I'm going to be removing myself. And trying to get through this year, I'm hoping that I do have the time to get |
| 659 | 01:53:47,820 --> 01:53:58,890 | through to November. But I need to do I need to take care of my own house, I need to take care of my own family, my own friends, my attention is going to be |
| 660 | 01:53:58,890 --> 01:54:11,340 | needed. When all this stuff gets really fever pitched. My family members are going to be stressed out. And if my attention is diverted to all of you, doing |
| 661 | 01:54:11,340 --> 01:54:17,490 | things that it's not necessary for me to do these things, I don't need to do these things. I'm doing it because I want to have a clear conscience when |
| 662 | 01:54:17,490 --> 01:54:28,350 | everything is going on. And it's knee deep. And it's hard for me and all of you. Me having a lot of money in a bank doesn't exempt me from them controlling what |
| 663 | 01:54:28,350 --> 01:54:36,780 | we do and how I live my own personal life. If I'm on social media, and I say the things I'm saying right now. While I'm not saying you resist and do this and do |
| 664 | 01:54:36,780 --> 01:54:44,130 | that, because I don't think Dude, you're going to you're not going to stop it. That that's my point. You're you're not going to stop it. And people that think |
| 665 | 01:54:44,130 --> 01:54:52,230 | that they can vote their way out of this stuff. You're not voting anything out of anything. Any person that ever gets in leadership now. They're all part of |
| 666 | 01:54:52,230 --> 01:55:05,490 | the World Economic Forum. They're all selected. It's been like that since Reagan. You just didn't know about it. It's the reality of it all. In its knees |
| 667 | 01:55:05,490 --> 01:55:15,060 | sound dismal. See, it may sound, you know why even bother trading, because I could be wrong. I could be wrong. And you would cheat yourself out of a |
| 668 | 01:55:15,060 --> 01:55:27,720 | lifestyle. That, you know, could be great if it is wrong, and I hope I am. I hope I'm wrong. I have not been wrong. All throughout all this stuff before |
| 669 | 01:55:27,720 --> 01:55:38,220 | COVID, all this stuff on Twitter before I left it in 2019, I said, we are looking into something wicked, something really wicked is coming. And I saw what |
| 670 | 01:55:38,220 --> 01:55:48,900 | was going on in China. And again, in October, I told you in 2019, I said mean, get ready. Something weird is coming. And it's going to be worse than 911 and |
| 671 | 01:55:48,930 --> 01:56:05,160 | September 11, when he granted all the airplanes globally, everything changes, then the world hasn't been the same since since 2011. When I say 2000 moment, |
| 672 | 01:56:05,700 --> 01:56:24,960 | 2001 99, September 11 2001. That day, started all this. Everything changed. That date, the world slowly started changing. In the world prior to 2001, when the |
| 673 | 01:56:24,990 --> 01:56:35,460 | World Trade Center buildings collapsed, that has never been the same. And we're never going back to that we're not going back to the way it was in 2019. We're |
| 674 | 01:56:35,460 --> 01:56:50,730 | going into a world that is very closely identify with that book 919 84, which is why I told her about years ago read it. And you'll start recognizing where we |
| 675 | 01:56:50,730 --> 01:57:03,750 | are and where we're heading, and we're heading there. So having another way of making money is a good endeavor, I think that's the only way I think you can |
| 676 | 01:57:03,750 --> 01:57:11,610 | prepare for it. Learn how to grow your own food be self reliant. And if you live in cities like that, it's probably gonna be very difficult. So hopefully you |
| 677 | 01:57:11,610 --> 01:57:19,470 | have enough time to change your lifestyle to get yourself out of those cities go into a little bit different a rural setting, you know, away from the |
| 678 | 01:57:21,300 --> 01:57:29,430 | the congestion of city life, because that's where there's going to be a lot of crime, a lot of violence is going to be unsafe there. And things are going to |
| 679 | 01:57:29,670 --> 01:57:40,860 | change from a industry standard across all all industries. They're going to be reducing the necessity for people. And what you don't realize is when he told |
| 680 | 01:57:40,860 --> 01:57:51,780 | her to go home and work from home, they were beta testing a lot of things that were being ran without people being on site. So a lot of the jobs are going to |
| 681 | 01:57:51,780 --> 01:58:03,150 | fall away. I mean, even you look at McDonald's, and they poison you with that garbage. You drive through and you pay too much for poison. They're moving to |
| 682 | 01:58:03,180 --> 01:58:16,260 | restaurants that only have one person in them and they're all basically robot driven. Sounds like the Jetsons right? cartoon from the 80s. Think about toll |
| 683 | 01:58:16,260 --> 01:58:24,510 | booths when you were driving before you go through Tollbooth, and you get the people that you would give the money to and they let you go through, go across |
| 684 | 01:58:24,510 --> 01:58:33,180 | the bridge or go through a section of town or a specific highway. They ain't there anymore. They don't think about that until I was driving down to Florida. |
| 685 | 01:58:33,180 --> 01:58:42,630 | I was thinking myself, you know, why don't those people are doing today that used to be in those toll booths. And you know what I do now? And every industry |
| 686 | 01:58:42,630 --> 01:58:53,310 | is being shook up. Because they're preparing for less people. Less people, less headache. You don't have to pay health insurance for them. You don't have to |
| 687 | 01:58:53,310 --> 01:59:05,370 | have any kind of you extra this or extra that and they never call it a work. They never go on maternity leave. So people from a business owners perspective |
| 688 | 01:59:05,940 --> 01:59:16,500 | is a need right now. But there's a massive move for people not to be needed. They want artificial intelligence. They want automation. And that is going to |
| 689 | 01:59:16,500 --> 01:59:32,670 | make you redundant. You're talking about taking away natural gas hookups in New York. Madness. They're talking about no diesel engines in California. Madness. |
| 690 | 01:59:33,420 --> 01:59:49,710 | Like these things are all eventually coming to the Dutch. The government's are paying buying out the farmers out there for 100 or 120% of whatever the value |
| 691 | 01:59:49,710 --> 02:00:01,410 | is. By food is going to be controlled. You guys are laughing at me years ago when I was talking about it. The year Take a step back and look at everything. |
| 692 | 02:00:01,770 --> 02:00:12,030 | cow farts are not going to change the atmosphere. Okay? That's what you're saying. We can't have too many cows. Can't have too many cows, I probably should |
| 693 | 02:00:12,030 --> 02:00:18,960 | have warned you when we transitioned into the tinfoil. Some of you're like, What the hell does it have to do with trading has everything to do with it. Because |
| 694 | 02:00:18,960 --> 02:00:26,220 | it's going to be in your house, all these things are going to be impacting you, it's going to impact your life, it's going to impact how you live, what you pay |
| 695 | 02:00:26,220 --> 02:00:37,020 | for what you can acquire, how you feed your children, yourself, if you don't have children, all these things are going to be major impacts in your life. |
| 696 | 02:00:37,020 --> 02:00:45,030 | Whether you choose to believe it right now or not, it's gonna be an impactful event. And you gotta prepare yourself, make yourself ready, make your house |
| 697 | 02:00:45,030 --> 02:00:55,800 | ready. non perishable foods, a way for you to grow your own food. It may not be feasible, but you got to do whatever you can, right? What's the point of making |
| 698 | 02:00:55,800 --> 02:01:06,870 | all this money? If you just ride around in Lamborghinis? Lamborghini ain't gonna feed you. Lamborghinis. And if everybody is paying attention, you're trying to |
| 699 | 02:01:06,870 --> 02:01:20,010 | put laws in place that no combustion engines are going to be made after 25 and 2020. I'm sorry, 2030. Everything should be electric. Meanwhile, the batteries |
| 700 | 02:01:20,010 --> 02:01:31,020 | in these things? What do you do with them when they're no longer any good? You can't just you recycle them. They're not there. All this green stuff. Everybody |
| 701 | 02:01:31,020 --> 02:01:42,570 | talks about look at windmill blades. They're burying them, and they never disintegrate. Does that sound like a good use of resources? It's all lies. All |
| 702 | 02:01:42,570 --> 02:01:50,430 | this stuff. Everything you're told is a lie. Everything about the market, you've been learning from all these books and writers and teachers and things that they |
| 703 | 02:01:50,430 --> 02:02:05,610 | talk about on the news. So Alize you're being lied to, you're being manipulated, you're being controlled by misinformation. And having a lot of money. In a world |
| 704 | 02:02:05,640 --> 02:02:16,680 | that's changing to this degree, might not be enough. And that's my concern. I'm not sleepless at nighttime. My faith isn't in money. I've been taught before and |
| 705 | 02:02:16,680 --> 02:02:27,270 | I don't care, and how to fish and how to cook and all those types of things. I don't need to live on filet mignon, I don't really eat that much. But the point |
| 706 | 02:02:27,270 --> 02:02:38,100 | is, I don't need to have a high jetset life, I don't need to have that. For some of you, this never had it. You want it so bad. You're willing to do whatever |
| 707 | 02:02:38,100 --> 02:02:47,220 | shortcut there is. But I'm talking about things that you might not be aware of. Because when it starts happening, it might scare you. It might make you stressed |
| 708 | 02:02:47,220 --> 02:02:58,320 | out and scared or stressful, mindsets, can't trade efficiently. You'll be consumed with this in terms of anxiety. So if you're told about it in advance, |
| 709 | 02:02:58,320 --> 02:03:05,820 | and you can make your house ready as best you can. I'm hoping and this is real only reason why I'm talking about I'm not trying to scare anybody is that it's |
| 710 | 02:03:05,820 --> 02:03:15,090 | not meant to be fear mongering, it's meant for you to just prepare for it. However you feel that you can and how you can that's all I'm trying to inspiring |
| 711 | 02:03:15,090 --> 02:03:27,120 | you. I'm not telling you to resist or go right at your presidential palace, or White House or whatever, because that stuff isn't going to do anything. That's |
| 712 | 02:03:27,120 --> 02:03:35,520 | not going to do nothing. It's gonna get in trouble. Net. That's what you want to avoid rising up or insurrections and things. That's what they want. They want |
| 713 | 02:03:35,520 --> 02:03:48,270 | that to happen. They want that very thing to happen, because that's going to allow them to usher in more controls, control measures with finances and civil |
| 714 | 02:03:48,270 --> 02:03:56,790 | control mechanisms. You can't do this, you can't do that. You can only go outside at this time. Down in Baltimore, I don't live in Baltimore. I've never |
| 715 | 02:03:56,790 --> 02:04:05,940 | lived in Baltimore. But locally, they have a curfew. If you're this age, you can't be out past this time. If you're this age, you got to be home about this |
| 716 | 02:04:05,940 --> 02:04:22,410 | time and let's go into work. Really? You are you going to be comfortable with that? You can go outside at this time. But not this time. It's like we're in a |
| 717 | 02:04:22,410 --> 02:04:32,400 | weird science fiction movie that keeps getting worse. And just because of the world, world health organization who removed the COVID restrictions. And now I'd |
| 718 | 02:04:32,400 --> 02:04:45,090 | say there's no more pandemic. There wasn't a pandemic. They had ran a beta test on things to see how far they can get things done. And now they have condition |
| 719 | 02:04:45,090 --> 02:04:56,610 | as people still driving around in cars with the winners up with masks on and it's a it's unfortunate thing. I look at my wife all the time she sees it too. |
| 720 | 02:04:56,610 --> 02:05:06,090 | It's just like they watch the news and it's scares them. And they're not old. I can understand an elderly person thinking, Okay, I can't afford to catch |
| 721 | 02:05:06,090 --> 02:05:20,730 | anything. It is what it is. I understand that these people are young. And your mind is a battlefield. And they're coming at you with everything now. War, |
| 722 | 02:05:21,600 --> 02:05:29,700 | rumors of war, they're going to invade. What happens if this and what happens is they're trying to scare you with weather balloons. Oh, there's a balloon flying |
| 723 | 02:05:29,700 --> 02:05:39,270 | over top of the country book. You think China or any other country will use a balloon to navigate and take pictures? They can do that with satellites. They |
| 724 | 02:05:39,270 --> 02:05:47,940 | got sonar. So there's like 30,000 satellites above our planet right now. You think they can't scan through and see what we have in terms of military bases |
| 725 | 02:05:47,940 --> 02:05:57,480 | and how much artillery we have this there? That balloons stuff. It was just a distraction. Watch what they do with that information. It's gonna come back up |
| 726 | 02:05:57,480 --> 02:06:09,540 | again. You're gonna see more that silliness? Or we shut down an unidentified object? Oh, yeah. Right away, everybody's thinking it's at some UFO. Like, it's |
| 727 | 02:06:09,870 --> 02:06:21,150 | there. They're literally wearing us down. With all this nonsense, constantly keeping you distracted, while they're bankrupting every country's currency, to |
| 728 | 02:06:21,150 --> 02:06:29,040 | usher in a digital currency where they have complete control of you. How you spend your money, where you spend your money. And if you don't listen to them |
| 729 | 02:06:29,040 --> 02:06:39,420 | and comply. They just turn it off. What are you going to do? What are you going to do if they do that? What, what kind of response you're going to have for it, |
| 730 | 02:06:40,470 --> 02:06:47,340 | you're gonna get angry, you're gonna go on social media and complain, and then they're gonna do what affect your social credit score. Because you did that, |
| 731 | 02:06:47,340 --> 02:06:57,750 | too. It's a way of taking away free speech. It's a way of controlling people. And guess what, there's nothing you are going to be able to do to stop that. |
| 732 | 02:06:58,980 --> 02:07:01,950 | There's nothing zero that you're going to do to stop it. |
| 733 | 02:07:04,410 --> 02:07:15,180 | So losing control of yourself emotionally over it, either by fear about it right now, or getting angry when it happens. You have to find a way to stay in control |
| 734 | 02:07:15,180 --> 02:07:24,840 | of yourself and shut your mouth. Not because you're looking to boots, but because Why make a target of yourself. Especially if you have kids. If you have |
| 735 | 02:07:24,840 --> 02:07:38,490 | children, if you have a family that's depending on you. I don't want to have any more than what's already gonna come. And I don't hold back what I think I say |
| 736 | 02:07:38,490 --> 02:07:48,870 | what I think and I, it is what it is. So if I remain on social media, all I'm going to do is put a target on myself. And just look around see what you're |
| 737 | 02:07:48,870 --> 02:07:59,340 | doing people I don't think I've always been controversial and trading but I don't want to be a reason for people to feel like they got to reach out and |
| 738 | 02:07:59,340 --> 02:08:14,190 | touch me and upset my family life. My my personal life probably had enough intrusions in that from goobers. But the world's changing folks, it's changed in |
| 739 | 02:08:14,190 --> 02:08:22,230 | 20 years ago, these haven't recognized because the progression was very, very slow, small, incremental movements. It's not perceived by the average person |
| 740 | 02:08:22,230 --> 02:08:28,860 | because they keep you distracted with the football games and all the sporting events and all the drama and Keeping Up With The Kardashians. Keep giving you |
| 741 | 02:08:28,860 --> 02:08:42,210 | all things dramatize over about other things, other people not recognizing that your world is slowly becoming smaller and smaller. And it's about to become an |
| 742 | 02:08:42,210 --> 02:08:59,640 | even smaller, big population reduction as they're playing. So anyway, probably doesn't feel like a good way to end a twist. But these are all things I want to |
| 743 | 02:08:59,640 --> 02:09:06,990 | talk about. I want to talk about these things. When I was driving. I had a headset and I could have been talking while I was driving. It would have been |
| 744 | 02:09:06,990 --> 02:09:21,000 | completely legal and undistracted driving but I wanted to talk about all that stuff and put it on a SoundCloud but Sam had an opportunity to do so. So I |
| 745 | 02:09:21,000 --> 02:09:28,680 | included a here those individuals that were not interested in this kind of stuff, they primarily turn off the the Twitter space or they run subscribing me |
| 746 | 02:09:28,680 --> 02:09:41,730 | and whatever, doesn't matter. It ain't got to stop it. But I tell you these things, and I'm not making any money here, okay, there's no ads running. There's |
| 747 | 02:09:41,730 --> 02:09:49,290 | no monetization and if you choose never to come back because you heard something that scared you think I'm trying to push them out of fear mongering thing on |
| 748 | 02:09:49,290 --> 02:09:59,430 | you. Don't come back and telling you these things that we can get you and your household prepared the best way you can and let it also be an inspiration for |
| 749 | 02:09:59,430 --> 02:10:08,010 | you to learn him. Do this, treat it like a business because it's going to get harder for everyone. I have a lot of money. And having a lot of money is not |
| 750 | 02:10:08,010 --> 02:10:18,240 | going to exempt me from what is coming. It just makes it much more important that I don't talk about the things that I talk about in public forums like this, |
| 751 | 02:10:19,020 --> 02:10:30,570 | I'll be de platformed. And there it is. So if my youtube channel goes down, or they take the Twitter account down, or if I put a SoundCloud out on that |
| 752 | 02:10:30,570 --> 02:10:38,790 | SoundCloud account, and it talks about these things like this, and they take it down, then you know what I've said was absolutely true. And there it is, I won't |
| 753 | 02:10:38,790 --> 02:10:47,610 | come up, come back up with another platform to try to be a backup system, I'll just take that as okay. I don't need any more reminder. It's it is what it is. |
| 754 | 02:10:47,820 --> 02:10:55,650 | I've already said all these things anyway. But I'm just trying to be a voice of reason to keep you encouraged to keep doing what you're doing. That's all. I |
| 755 | 02:10:55,650 --> 02:11:03,180 | mean, it's easy to feel complacent about going to work every day and thinking, that's, that's the American dream, you're getting your bills paid, you're just |
| 756 | 02:11:03,210 --> 02:11:11,220 | eking through life, and you can make your mortgage or your rent payment. And this is like a distraction to all that stuff. Listen to me, are you pretending |
| 757 | 02:11:11,220 --> 02:11:19,920 | that you're going to eventually be profitable and trading. And that's not what I want you to do, I want you to learn how to do this as a means of secondary or |
| 758 | 02:11:19,950 --> 02:11:31,350 | primary income to help fortify you, and put in place the things that you would like to have to make existence comfortable and more bearable. Because times are |
| 759 | 02:11:31,350 --> 02:11:44,940 | gonna be harder in doing away with natural gas hookups in New York, in doing and banning all diesel engines in California, whether you realize it or not to |
| 760 | 02:11:44,940 --> 02:11:55,290 | things that start in these very, very liberal states eventually find their way into other states, even red states, they may be kicking and screaming, say |
| 761 | 02:11:55,290 --> 02:12:05,760 | that's never gonna happen here. But it will, you know, they do away with grocery bags, when you go to the store. And there's plastic bags, that's it, we're not |
| 762 | 02:12:05,760 --> 02:12:14,100 | going to hold them anymore. So you gotta go out and buy your own totes. We do that anyway, because I don't want all these plastic bags in my home. So we buy |
| 763 | 02:12:14,130 --> 02:12:21,000 | the reusable, nylon, you fold out real small and keep them in your car. When you go to store and you take them out and you bring your groceries home or whatever |
| 764 | 02:12:21,000 --> 02:12:30,570 | it is you bought. And then you have it to be reused. Or they charge you for a bag in the stores. Like if you go to Wegmans here in Maryland, I don't know if |
| 765 | 02:12:30,570 --> 02:12:38,280 | they have segments and other states and it's just the store we like to go to I like their food and like how to do their store but they don't give you they |
| 766 | 02:12:38,280 --> 02:12:50,340 | don't give you bags unless you pay for which it's not a big deal. And I can pay for bags for new for everybody. But the point is it started in California. And |
| 767 | 02:12:50,340 --> 02:13:01,470 | it's moved across other states and it will all eventually be no natural gas, no wood burning stoves, no diesel engines, no combustible engines, it'll all be |
| 768 | 02:13:01,530 --> 02:13:13,800 | green, all electric and they can all be turned off when they want them to be turned off. Think about I saw a video clip short this morning I was eating |
| 769 | 02:13:13,800 --> 02:13:24,480 | something before I came on. It was a short little clip of a guy talking about how a Hellcat you probably are seen this little short. But the Hellcat guys |
| 770 | 02:13:24,480 --> 02:13:32,580 | describing how if someone's going to carjack or steal your car, you push this little button on your remote, your key fob for your car. And then they can start |
| 771 | 02:13:32,580 --> 02:13:41,370 | the car up. But the gas pedal doesn't work. Okay, they're gonna smash the car, they couldn't steal it tonight, smashed all up. But think about the technology |
| 772 | 02:13:41,370 --> 02:13:51,960 | they had there. It'll start but you're going nowhere. Imagine a world where your social credit score can affect you being able to do that, too. They may allow |
| 773 | 02:13:51,960 --> 02:13:59,790 | you to drive to and fro to work in your electric vehicle. But on the weekends, they turn off access to it. You don't think it can happen? Look what they've |
| 774 | 02:13:59,790 --> 02:14:08,970 | done in China. They tell their people you can't even leave the house. Because you've done something to do it. And like, that's what's coming everywhere. |
| 775 | 02:14:09,780 --> 02:14:17,100 | Everywhere, it's gonna be like that. That's the goal. You know, it may not be successful in the next year or two, but that's where they're aiming. They're |
| 776 | 02:14:17,100 --> 02:14:30,090 | aiming for that before 2030. And that sounds nuts doesn't it sounds insane. And because I'm a person that is prone to say things and not think about the |
| 777 | 02:14:30,570 --> 02:14:41,970 | ramifications of it, because you know, I have a heart. I don't want any of you going through anything unpleasant. And I'm sharing my life and my time and my |
| 778 | 02:14:41,970 --> 02:14:52,110 | resources and my experience with you in hopes that you'll be able to live a better life and present a better life to your children. That to me is |
| 779 | 02:14:52,110 --> 02:15:04,200 | motivation. Why I do it. And I'm talking to you in a medium that I don't make any money with If I do that, because I want you to trust what I'm saying is only |
| 780 | 02:15:04,200 --> 02:15:14,340 | inspired because I want to do well with you and for you. So that way you can do what you're not really equipped to do otherwise. And maybe if I'm wrong, |
| 781 | 02:15:14,340 --> 02:15:22,500 | hopefully I am, none of these things happen, and you live a better life and your children live a better life, because you pass on this information to them. That, |
| 782 | 02:15:22,500 --> 02:15:32,520 | to me is a rewarding life. That to me is a purpose driven life, that's a, that gives me a sense of accomplishment, better than making money in the marketplace, |
| 783 | 02:15:32,550 --> 02:15:40,500 | okay, better than being recognized and energy as this guy or that guy, I want to be remembered as this, this person talking to you, the person that is investing |
| 784 | 02:15:40,500 --> 02:15:51,480 | his time, and resources and time teaching you how to do things to be a better person to equip yourself and your family to not go through as much discomfort as |
| 785 | 02:15:51,690 --> 02:16:01,650 | the average person will in the coming years. Because it's going to get stupid, like it's going to get really stupid. And I don't have answers for all of it. |
| 786 | 02:16:02,910 --> 02:16:15,000 | Like, I've racked my brain for years, all through the COVID crap and stuff like I was trying to come up with ways to navigate all of it, and what would be the |
| 787 | 02:16:15,000 --> 02:16:24,000 | exemption for me to do this or do that. And, you know, I've contemplated moving to other countries, I wanted to go to Ireland, and in Ireland started acting out |
| 788 | 02:16:24,000 --> 02:16:33,420 | and doing some silly stuff. And that's like going and going there. So it, it came painfully obvious that it's not going to be a place where I can go, there's |
| 789 | 02:16:33,420 --> 02:16:44,910 | no place that you're going to go that is exempt from it. And now because of Saudi Arabia's willingness to join in with the BRICS nations and also allow |
| 790 | 02:16:45,030 --> 02:16:50,370 | their oil to be purchased outside the US dollar. That's a death knell for the dollar. |
| 791 | 02:16:52,170 --> 02:17:03,540 | And I talked about this last summer, in Twitter spaces. So it will be a gradual, not an overnight like boom, sudden dollar just collapses, okay? It will be a |
| 792 | 02:17:03,540 --> 02:17:18,300 | slow, it has been, it's been a slow dissolving. Erosion of the buying power of dollar. Even if the dollar were to go up at contract value higher, the buying, |
| 793 | 02:17:18,780 --> 02:17:27,630 | purchasing power of it won't remain the same. And it doesn't make sense for someone that's new, there's like, let me cents. Just look at what you're doing |
| 794 | 02:17:27,630 --> 02:17:38,700 | right now. When you go to a store when you when you buy groceries, it costs a lot of money. And what I used to purchase for me and my family, and we I when I |
| 795 | 02:17:38,700 --> 02:17:50,970 | purchase food, I purchase one month's worth of normal consumption, and then I replenish my food stores in my pantry. So long term pantry, in the average |
| 796 | 02:17:50,970 --> 02:17:59,730 | everyday like milk and eggs and stuff like that, my wife will grab that on a week by week basis. But your bill probably is much more than it has been in the |
| 797 | 02:17:59,730 --> 02:18:10,380 | past two. But it cost me about 12 to 1300 hours to buy the food that we put in for a full month. You know I have teenagers are still live with me up a whole |
| 798 | 02:18:10,410 --> 02:18:25,680 | whole bunch of stuff. And over the course of a month, you every meal, I put dog food into it, by the way until I kind of factored that into. But look at dog |
| 799 | 02:18:25,680 --> 02:18:41,070 | food, if you have a pet, we used to spend like $10 for one case of food for one of our dogs. Now, it's more than doubled. So I'm sure the folks that are out |
| 800 | 02:18:41,070 --> 02:18:49,170 | there that are listening to haven't found profitability yet. You know, they're really trying to get to a point where they can make more money, you know, in, I |
| 801 | 02:18:49,170 --> 02:18:58,260 | get it. And that motivates me like that keeps me going to try to find ways to make it easier for you to learn how to do this. And hopefully this presentation |
| 802 | 02:18:58,260 --> 02:19:09,240 | has helped in that regard in terms of limiting your exposure and don't look at it as holding you back. Because it's easy for you to wrestle with this, this guy |
| 803 | 02:19:09,240 --> 02:19:16,200 | just outlined this many opportunities in a day. So why is he telling me only pick one of them, when it would make more sense for me to be able to win here |
| 804 | 02:19:16,200 --> 02:19:24,150 | when here when because you're assuming that as a new student that you're going to win all the time when you're not as a new student. You don't know yourself, |
| 805 | 02:19:24,180 --> 02:19:32,430 | you don't know the market well. And it's foolish for you to think that you're going to be successful that fast right out of the gate, and be able to trade |
| 806 | 02:19:32,460 --> 02:19:44,190 | every session, every opportunity in a 24 hour window. You can't. So learn one of them. Pick one that fits easily inside your personal lifestyle right now. That |
| 807 | 02:19:44,190 --> 02:19:53,760 | way when all these things, if they do start to get worse than the stresses that come with it, they won't compound you into doing something outside of the model |
| 808 | 02:19:53,760 --> 02:20:03,930 | that you've had. That has proven to you by then hopefully, the results that you'd love In for can be obtained just in one of these sessions in the day, you |
| 809 | 02:20:03,930 --> 02:20:15,240 | only need one of them. Just one. And if you get really good at one, then venture into another one in addition, and then slowly grow in that one. And over time, |
| 810 | 02:20:16,500 --> 02:20:22,980 | you may be able to do something in every one of them, but you can't do it in your first year, you can't do it in your first two years or three years, it's |
| 811 | 02:20:22,980 --> 02:20:34,650 | going to take you time to get real comfortable with working with a full daily range. And that shouldn't be a goal for everyone. But that's mastery. If you |
| 812 | 02:20:34,650 --> 02:20:43,170 | want to know what mastery is, you can go in every single one of these time windows and find a setup and engage and take it out. But unfortunately, young |
| 813 | 02:20:43,170 --> 02:20:51,450 | men are going to take that as a challenge, and try to do that in their first six months or their first month or their first year. And it's going to hurt them. |
| 814 | 02:20:51,930 --> 02:20:59,100 | And that's why I'm telling you not to do that. Because you can set yourself back and your progress and your development by doing something like that. Because |
| 815 | 02:20:59,100 --> 02:21:11,280 | it'll build in all this gear, fear, anxiety, performance anxiety, basically, because you've done something more than that is required to make money, you have |
| 816 | 02:21:11,280 --> 02:21:22,230 | to do something that repeats, that you can control risk with, you can limit the amount of risk exposure you have to it, both in time in front of the charts and |
| 817 | 02:21:22,230 --> 02:21:32,490 | in the market. And with the assumed risk in each individual trade. So in the beginning, you want to limit that to a very small degree of exposure, doing a |
| 818 | 02:21:32,490 --> 02:21:43,650 | lot of trades. Because think about it, you're in the beginnings of that. So everything that's painful, is going to be extremely exaggerated in your mind |
| 819 | 02:21:43,650 --> 02:21:51,210 | that that loss was way worse than it really was. You know, if you're trading a small account underfunded, and you lose 200 bucks, that's like the end of the |
| 820 | 02:21:51,210 --> 02:22:01,050 | world like man, I could have done something with that 200 bucks, blah, blah, blah, versus losing 200 bucks. And knowing that you don't have to hurry up and |
| 821 | 02:22:01,050 --> 02:22:08,610 | run away and get into another trading setup that same day, that same session to get it back. Otherwise, you're viewing yourself as a failure or never gonna be |
| 822 | 02:22:08,610 --> 02:22:19,800 | able to do this. It's a lot of growth that goes through the first stages of learning how to trade and rushing into life money or a funded account that's |
| 823 | 02:22:19,800 --> 02:22:32,250 | passed in, you can get withdrawals and payouts from a funding account company and still not know how to trade. You can get lucky, get a payout and still not |
| 824 | 02:22:32,250 --> 02:22:41,430 | know how to trade. So you don't want to discover that painfully. You want to know that you're absolutely bored with one of these times of the day, you know, |
| 825 | 02:22:41,430 --> 02:22:48,960 | that looks like the back of your hand, you know what you're looking for, you're not going to deviate from that. You're not in a rush, you're going to wait |
| 826 | 02:22:48,960 --> 02:22:57,570 | patiently for the setup to come to you. Because you're anticipating it, you're not waiting for the market to react to what price has shown you. You're not |
| 827 | 02:22:57,570 --> 02:23:09,420 | doing that. There is a difference. Okay, there's a there's a stark, stark contrast between anticipating something and then reacting. Knowing what you're |
| 828 | 02:23:09,420 --> 02:23:23,940 | looking for. Engaging it, managing that trade to to the end, impeccably managing risk the entire time, that your goal, that that's the primary focus for you, as |
| 829 | 02:23:23,940 --> 02:23:34,410 | a student of mine, I don't care what anybody else does, and how they teach under my wing, that's what you're trying to do. And then you grow gradually. Because |
| 830 | 02:23:34,410 --> 02:23:46,200 | you have to understand that even making money is scary. It's the people that would have seen that will be against that. I promise you they have never made |
| 831 | 02:23:46,200 --> 02:23:53,190 | any money. The ones that get on social media, you know who I'm talking about all these talkers. Yeah, I make this I make that I'm doing this, I'm doing that. |
| 832 | 02:23:54,690 --> 02:24:05,640 | When you're making money for the first time, that's going to be very scary. And you're going to freeze and you're going to feel an overwhelming desire just to |
| 833 | 02:24:05,640 --> 02:24:17,040 | close the trade. More so then I'm going to hold it and see how much it's gonna pay out more, you're going to be fearful, your stop loss is going to go down, |
| 834 | 02:24:17,040 --> 02:24:23,580 | hit my stop, and it's probably going to be you know, a significant distance between where the market is right now. And while in unrealized profit, and your |
| 835 | 02:24:23,580 --> 02:24:31,890 | stop loss will be pretty pretty far away from it. Even if it was the stop yet it would still be in profit. But you're going to start wrestling with this. To get |
| 836 | 02:24:31,890 --> 02:24:39,150 | out here. What happens if it goes down? Why stop? What happens if it goes down to more ticks? And it does and then you're thinking, Oh, no, oh, no. What do I |
| 837 | 02:24:39,150 --> 02:24:47,580 | do what? You're literally going to be arguing with yourself the whole time you're in unrealized profit, and you're not going to stick to the model. The |
| 838 | 02:24:47,580 --> 02:25:00,270 | limit orders, eight ticks or eight handles higher still hasn't got there yet. But you're in 12 handles of unrealized profit with a three point lock of you If |
| 839 | 02:25:00,270 --> 02:25:05,940 | you get stopped out, you made three handles. But you're gonna be wrestling, because you've never been here before you're gonna be wrestling with what do I |
| 840 | 02:25:05,940 --> 02:25:17,310 | do? What do I do, and it's painful. It's scary. And I teach, as soon as you feel that take half off. If you still don't feel better close the entirety, get out |
| 841 | 02:25:17,310 --> 02:25:26,640 | of it. You have to have gradual progress. And that is an experience that even if it goes back and stops you out, you've saved yourself from that experience, and |
| 842 | 02:25:26,640 --> 02:25:35,820 | it'll feel good. If it continues and goes for your target. It's okay, because you were part of that trade, and you still took a large portion out, and you |
| 843 | 02:25:35,820 --> 02:25:45,390 | removed yourself from that emotional turmoil. Because if you stay in that state of mind while you're trading, you can't effectively manage risk, you cannot |
| 844 | 02:25:45,390 --> 02:25:55,920 | effectively manage the trade, and you're worrying about the width, instead of worrying about what is, is the market showing me that it's still on the right |
| 845 | 02:25:55,920 --> 02:26:05,880 | side is orderflow. Still confirming if I'm bullish is to do down close candle support price. If it goes into the down close candles, is it going past the 50% |
| 846 | 02:26:06,360 --> 02:26:13,710 | mean threshold? If it does, and starts closing below that there are warning signs doesn't mean completely based on the trade? It just means. Okay, what's |
| 847 | 02:26:13,710 --> 02:26:24,690 | the next two P arrays below that if I'm bullish on long is price not being supported by down close candles, if that happens to not be true, then and only |
| 848 | 02:26:24,690 --> 02:26:33,960 | then you don't worry about it, you close the trade and you're happy with it. Be content with that. And you'll see many times that you did the right thing. But |
| 849 | 02:26:33,960 --> 02:26:44,340 | you can't appreciate what I just said, and you go through back testing, and then do tape reading. And then do demo trading. And you've been there you've seen it, |
| 850 | 02:26:44,550 --> 02:26:49,680 | you've experienced it, now you understand it and see it before it happens. You anticipate it. |
| 851 | 02:26:51,420 --> 02:26:58,320 | But if you're trying to just jump over top of all that stuff and go into live fun trading or getting past with a funded account, and trying to be able to |
| 852 | 02:26:58,320 --> 02:27:07,740 | trade a funded account and get withdrawals and payouts by these companies and not know what you're doing, you're going to fail. And you won't understand why |
| 853 | 02:27:07,740 --> 02:27:18,360 | you're failing, which will also be a great deal of negative impact in how you think about trading how you think about yourself as a trader, all those things |
| 854 | 02:27:18,360 --> 02:27:30,450 | are going to be paramount to what you do in the next set of trades. And it's going to create nervousness, anxiety, and you'll have fear of getting into a |
| 855 | 02:27:30,450 --> 02:27:41,940 | trade. It'll completely lock you down. And you may have just made money. But being in a trade that's making you money, and not understanding what it's like |
| 856 | 02:27:41,940 --> 02:27:56,190 | to be in that position. It's a scary feeling. And the only reason why that occurs and the answer that solution being found in that testing, condition |
| 857 | 02:27:56,190 --> 02:28:04,500 | yourself seeing it, then tape reading, looking for it without pushing the button. Getting bored with how many times you're able to see it and then |
| 858 | 02:28:04,560 --> 02:28:17,400 | venturing in slowly with demo trading for months. And you can't you absolutely cannot take yourself and I'm going to shortcut it and skip all that part you can |
| 859 | 02:28:18,060 --> 02:28:31,860 | handle it. So hopefully I've given you a ability to focus in on specific times of the day, time based setups and models that you can employ and use these as as |
| 860 | 02:28:31,860 --> 02:28:44,160 | a rule based idea going into the 24 hour trading day and find your unique model to start with in these specific times. Hope you found this one insightful. Enjoy |
| 861 | 02:28:44,160 --> 02:28:50,520 | the rest of your weekend and I'll have something for you tonight on YouTube with the new week opening gap. And until I'll talk to you then be safe |