026-ict-tw-spaces-20230513-No-shoes-No-Shirt...-NWOG
Last modified by Drunk Monkey on 2023-05-14 06:53
Outline
00:19 - Good morning, everyone!
Good morning and happy saturday to you.
Three members of the family in hospital.
Life-threatening, but otherwise everything is well.
Q2 Nasdaq futures for June delivery and Q2023.
03:55 - Trading view symbol for Nasdaq.
Trading view symbol for nasdaq and weekly chart.
Volume imbalance on the Nasdaq.
Low volume will lead to actual gap, 13,004,53.
Levels in mind for this week.
07:23 - What are you looking for in the NQ?
Weekly chart analysis and daily chart analysis.
Daily chart for nqm.
Shading the fair value gap.
Breaking down the market this week.
13:49 - What stayed at the current week’s highs and lows.
Current new week opening gap, high and low rate.
Bullish and bearish order blocks.
16:28 - What are you looking for when looking at relative strength?
Only bullish on the Nasdaq 100 and Dow 30.
The six SR concept.
The six SR concept is multifaceted and multi-faceted.
How to use the sixSR concept.
Introducing the sixth SR concept.
Naked action relative strength analysis, relative strength.
25:27 - You don’t want to be relying on me or anyone else’s signals -.
Being independent from everyone else in trading.
The importance of looking at a market's strength.
28:29 - Does it mean we can’t trade?
Adapting to the current environment.
Looking at the chart for the first time since Thursday.
The one trick pony is a model.
The immediate rebalance in the algorithm.
34:11 - When you’re trading forex, there’s no centralized exchange -.
In-house liquidity vs centralized liquidity in forex trading.
Forex is a more mature marketplace.
The risks of central bank digital currencies.
The future of forex and index futures.
High frequency trading and the gap. 37:38
Nasdaq closes at 13,004 53.75, one point above the low.
High-frequency trading algorithms.
Immediate rebalancing is a signature that tells smart money.
Weekly gap and reprice to 8am candles.
42:10 - Why you have to learn incrementally -.
How the algorithm won't go back to high levels.
The importance of learning incrementally.
Growing an affinity for one thing.
When speed and magnitude should enter the marketplace.
45:34 - What did price do all week?
What happened this week in trading.
The regretful thing most students do.
Take two weeks of no markets, no videos, no social media.
Forgive yourself for mistakes.
Immediate rebalance creates a fair value gap.
Best case scenario, immediate rebalancing.
53:34 - What was the objective of the weekly chart?
One-sided avalanche of trading on the weekly chart.
Liquidity void on the chart.
56:24 - What does the New Week Open Gap mean for you?
New week opening gap and immediate rebounds.
The low of the day, 13,310.
Trading is never going to change or be made obsolete.
Traders are doers, not shit talkers.
How to become part of the hive mentality.
The two types of delivery delivery.
01:04:23 - You don’t know when you’re wrong.
The importance of taking partial profits.
The westernized version of rewarding lazy people in Asia.
Month one core content is all on one channel.
Month one content is done.
01:08:29 - The importance of using price action and relative strength analysis in price action.
Sentience enhancers and not being listened to around children.
Weekly chart candlestick formation and decisiveness.
Inefficiencies in education in trading.
Key turning points to look for in trading action.
Fair value gap on the daily chart on may 5, 2023.
Daily chart of may 2,2023.
01:15:50 - How the 1995 catalyst changed how he looks at price action.
Nasdaq is showing a willingness to go higher.
The 1970s book, supercharge.
01:18:45 - Daily Chart: Fair Value Gap.
The premium/fair value gap formed on may 2.
How to see the premium/price gap.
Nasdaq overbought and oversold between two fair value gaps.
Best moves for ES are short only.
01:22:33 - What is a holding pattern? What does it look like?
Market wants to go higher.
Dollar index in consolidation is a green light go.
Looking for strong forex currencies, not individual pairs.
The difference between knowing and knowing.
01:28:17 - How the market can sometimes move outside the line in forex.
How simon uses a mohawk in forex trading.
Three to five pips of variance in Forex.
01:31:10 - The fair-pay gap and liquidity pool.
The fair pay gap extended on the 15-minute chart.
The liquidity pool.
Don't heart your trade results.
Mentor is a mentor, not a trader.
Not trying to be an oracle or morpheus.
High risk, high reward environment.
01:37:58 - When I thought I knew something and later found out it wasn’t true.
Early years as a trader and being hard on yourself.
Being his worst critic.
01:40:59 - When did you know you wanted to be an entrepreneur?
Becoming a student of the markets in 1992.
The birth of inner-circle failure.
Get into a 401k american dream.
The last bastion of free enterprise is changing.
Kicking the can down the road farther and farther.
Two years from now, shit will be different.
01:47:55 - What’s the point of sticking with a strategy?
Time and effort is the key to success.
Five pages of scribble bullshit.
The importance of being a market maven.
The market right now is the most challenging.
01:51:18 - There are so many things going on all around the world that there’s huge pockets of what would be normally filled with interest institutionally.
Risks are so high right now.
Big money is coming into the marketplace.
What to do when the market is in a funk.
High frequency trading is not working.
01:57:08 - You have to lower your expectation, slow down.
Lower expectations and make things nice and slow and boring.
30 years of trading.
02:00:22 - You have to listen to people who have been around for a long time.
Listen to people who have been around for a while.
The one-hit wonder.
Working with his son cameron to wrestle with his demons.
The failed trading crypto bullshit.
02:05:20 - What’s the most difficult thing in this business?
The most difficult thing in trading.
The importance of being patient and impatient.
Nobody starts trading and sees how they're going to end up failing.
Narcissistic traders.
02:08:44 - The difference between someone who has a realistic expectation to invest and someone who wants to invest.
Good money management can work with a shitty system.
The difference between new traders and seasoned traders.
Nobody makes money trading in crypto.
How crypto traders are feeling right now.
Expectations of success and strength.
The importance of having a relationship with someone.
02:15:03 - Don’t look to other people for validation -.
Stop looking at other people for validation.
You have to be in love with this.
Relationships complicate things.
Take the time to appreciate the support from loved ones.
02:19:15 - You’re very blessed that 90% of the time you’ll find that every one of us is coming through the same way.
90% of the time, everyone wrestles with failure.
Mark Douglas doesn't talk about it.
How social media keeps the revolving door from turning.
The first rule of fight club.
Mentor wants to see you succeed.
20k royal challenge tomorrow on Twitter.
Transcript
| 1 | 00:00:19,980 --> 00:00:36,540 | ICT: Good morning. Good afternoon. Happy Saturday to you. So I ditched my wife. She loves to read her Kindle rom coms, she reads a bunch of those romance novel |
| 2 | 00:00:36,540 --> 00:00:48,300 | crap. And she gets lost in loses track of time. And we were down there for a little while. And once it gets too hot, I have to even look at the umbrella. And |
| 3 | 00:00:48,330 --> 00:00:56,160 | I don't like the heat like that. So, to me, people coming around, I was gonna do the Twitter space right next to her, because he had her earbuds in listening to |
| 4 | 00:00:56,160 --> 00:01:09,210 | her audiobook as she reads it. And the population around us was getting a little loud. So I just thought outside, it's gonna come back up to the room, get some |
| 5 | 00:01:09,210 --> 00:01:21,450 | AC and hang out with you for a little bit. I know I say this all the time. But I promise you that this will absolutely not be a long one. She will absolutely get |
| 6 | 00:01:22,230 --> 00:01:30,780 | irritated by me not being down there. Because we're away. The reason why we took off down here again, obviously, we're interested in some real estate down in |
| 7 | 00:01:30,780 --> 00:01:44,790 | this area. And I wanted to look at one more property a little bit lower than where we are now. But it looks like 30 A on the panhandle area of Florida is |
| 8 | 00:01:44,790 --> 00:01:59,970 | probably we're going to be heading up to in a couple days. So I'll be talking to you by way of hotel Wi Fi like I am here. Everyone's doing well. Three members |
| 9 | 00:02:00,090 --> 00:02:16,650 | of our family were in hospital, one of which my mom, she's been released. So one, somewhat life threatening the other two, were just scarce. So thank you for |
| 10 | 00:02:16,650 --> 00:02:27,660 | your concern. Everything is well otherwise. So I want to talk a little bit about this past week. The if you hear the air conditioner running the desk that I have |
| 11 | 00:02:27,660 --> 00:02:38,670 | in this room, position that right next to where they have the air conditioning unit. So to me that's bode well for someone that would be working, but it is |
| 12 | 00:02:38,670 --> 00:02:52,170 | what it is. So I mentioned a few things this week. And not a lot. But the things I mentioned this week were pretty much spot one a talked about how the MQ Nasdaq |
| 13 | 00:02:52,170 --> 00:03:04,050 | futures for June delivery and QM 2023. I'll give you a moment you can load that up on your trading view chart. While we're talking for those that are lazy and |
| 14 | 00:03:04,080 --> 00:03:11,430 | don't want to go through the process and want to complain and wish you would just do a live stream and do it that way. I will be talking about it in review. |
| 15 | 00:03:11,430 --> 00:03:20,730 | So that way, if you're new busy doing yard work or working out, whatever, I'll have some visuals for you. But for the folks that just want to sit here and have |
| 16 | 00:03:20,730 --> 00:03:32,730 | a interactive time with me. I haven't had an opportunity to see much at the charts. We did some driving yesterday to get down into this area. And we'll be |
| 17 | 00:03:32,730 --> 00:03:44,850 | driving again tomorrow. And then we'll work her way back up into northern part of Gulf Coast of Florida. So it looks like I'm probably going to be securing |
| 18 | 00:03:44,850 --> 00:03:57,750 | another property down here. So she's really in love with this area. So gotta keep the wife happy. So NQ M 2023. That's your trading view symbol for NASDAQ. |
| 19 | 00:03:58,320 --> 00:04:10,260 | And if you got to your weekly chart and you can pull that up on trading view by hitting the number one and then the W hit that. Once you look at the MQM two, |
| 20 | 00:04:10,260 --> 00:04:28,530 | zero to three, it'll take you to your weekly chart. And I mentioned that we had a volume imbalance. I'll give you the actual dates on the weekly chart. So the |
| 21 | 00:04:28,530 --> 00:04:41,040 | high candle that makes the high of the volume imbalance. That candle is going to be on your weekly chart on Monday, August 15 2022. That's what your chart should |
| 22 | 00:04:41,040 --> 00:04:55,110 | say on trading view. And then the next candle to the right for Monday, August 22 2022. Those respective candles where they have a wick, not even touching the |
| 23 | 00:04:55,110 --> 00:05:03,300 | separation between the bodies that's the volume imbalance. And I went one step further this week in a took your attention into the actual gap. This is a |
| 24 | 00:05:03,300 --> 00:05:13,950 | liquidity void. I know, people have referred to these liquidity voids in the past, but there is no liquidity void apart from an actual gap where there is no |
| 25 | 00:05:13,950 --> 00:05:26,820 | volume, no trading new printing of any price at all, that resides between the low of the weekly candle formed on Monday, August 15 2022 For MQM two, zero to |
| 26 | 00:05:26,820 --> 00:05:43,830 | three symbol. And then the high of Monday, August 22. To 2020, okay, and those respective price levels are going to be a high of 13,004 80.75. And that low of |
| 27 | 00:05:43,830 --> 00:05:58,530 | that volume, and I'm sorry, that by liquidity will lead to actual gap 13,004 53, even, okay, so to doober that said that 13,004 53 Wouldn't be hit this week, it |
| 28 | 00:05:58,530 --> 00:06:11,040 | was and so did 13,004 80 and three quarters. And I love how these folks have selective hearing. My focus for the upside was primarily on one specific market, |
| 29 | 00:06:11,040 --> 00:06:22,200 | and that was the MQ, you can go back to look at the tweets. And the weakness, or any kind of shorts would have been on the s&p or ESM 2023. Okay, I called out |
| 30 | 00:06:22,200 --> 00:06:33,840 | the levels in advance towards what we were looking for. And if you put those on your chart, and post the tweets as well, marking when and where I said it, you |
| 31 | 00:06:33,840 --> 00:06:43,080 | can see the major intermediate terms, swings in the marketplace occurred right at those levels. Okay, so I'll go through them briefly here in my discussion. |
| 32 | 00:06:43,680 --> 00:06:56,790 | And I'll tell you what that might mean for us going forward for this week. So what those levels in mind having 13,004 80.75 and 13,004 53 00. When your chart |
| 33 | 00:06:56,790 --> 00:07:07,860 | for the weekly now dropped down into the daily, you can get that by hitting the number one and the letter D. And that will take you into your daily chart. And |
| 34 | 00:07:07,860 --> 00:07:18,450 | there There's levels you can see pretty much repelled price. On Friday, we went to consequent encroachment of that gap on Thursday. Notice that went great |
| 35 | 00:07:18,450 --> 00:07:35,220 | between those two levels 13,004 80.75 and 13,004 53. Even. Okay, Thursday's price, high came right up into a high of 13,004 70.25. So that's very nice to |
| 36 | 00:07:35,220 --> 00:07:42,420 | see that that's a signature you want to see is it respecting that level. And then Friday, we opened rallied up to it had a little bit of a mohawk above the |
| 37 | 00:07:42,420 --> 00:07:55,020 | high we will be looking for for that gap on the weekly chart. And if you look at the tweets, I shared that gap with a blue rectangle in a tweet. So go back and |
| 38 | 00:07:55,020 --> 00:08:02,490 | look at I didn't do too many tweets this week. So it should be easy for you to find it also started the analysis of this week telling you that I was looking |
| 39 | 00:08:02,490 --> 00:08:13,500 | for and was interested in that gap as a draw up. My concern was the CPI obviously, and CPI can be murder to us as traders, if we're off side, that means |
| 40 | 00:08:13,500 --> 00:08:20,940 | we're not on the right side of the marketplace, when it's released, it can run you over and tell your face right off. So you don't want to be positioned ahead |
| 41 | 00:08:20,940 --> 00:08:34,650 | of CPI for that very reason. So I mentioned on the daily chart for NQ. I favored the upside. Okay, so that way we no bias was for me sharing it with you |
| 42 | 00:08:34,650 --> 00:08:42,780 | publicly, I wanted to see it go higher, admittedly, for CPI, you know, I don't want to tell you what to do, because I don't want you to get hurt if I'm wrong. |
| 43 | 00:08:43,200 --> 00:08:54,840 | And traditionally, I'm wrong. It just so happens that I was right this time. But for transparency purposes, the majority of times on the CPI number I'm not all |
| 44 | 00:08:54,840 --> 00:09:06,690 | that accurate, because it is what it is. So D if I wasn't I'd be trading all the time, so that there'll be something else that would give you a model around it. |
| 45 | 00:09:06,720 --> 00:09:16,200 | But I have not been able to frame a model that is consistent ahead of CPI. Okay, so I stick with telling you gun in my head. This is the side of the marketplace |
| 46 | 00:09:16,200 --> 00:09:22,140 | I'm looking for, even though I may say look, if it's going to go down, it's going to go for this particular sell side. It's going to go up it's gonna go for |
| 47 | 00:09:22,140 --> 00:09:29,520 | this particular buy side. Now, if you're a goober and you're listening to that, and you stop right there, and you take a soundbite of that and put it on the |
| 48 | 00:09:29,520 --> 00:09:38,520 | internet and say look at it ICT does, you know calls it high and low. Keep listening because I always say gun to my head, I favor one side or the other. I |
| 49 | 00:09:38,520 --> 00:09:51,090 | did that this week again like I always do. And I was framing it on the context of that daily candle on now you should be on TradingView NASDAQ symbol NQ M 2023 |
| 50 | 00:09:51,090 --> 00:09:51,900 | on the daily chart, |
| 51 | 00:09:53,160 --> 00:10:06,330 | put your mouse over and hover over the candle for Friday May 5 2023. Okay, so Though that particular day, that is your fair value gap on the daily chart for |
| 52 | 00:10:06,330 --> 00:10:20,040 | MQ, which is below the gap that had not been traded to and through, notice that the high on that particular candle fell short of that 13,004 53 Even. Okay, so |
| 53 | 00:10:20,040 --> 00:10:30,210 | it didn't do anything on that day, that's the day the goober said, use it, it was gonna go to 13,004 53 and it tanked. It's an objective, okay, you have to |
| 54 | 00:10:30,210 --> 00:10:39,510 | wait for time and price that often for setups. The fair value gap we dropped down into that day. They basically consequent correction, which is a midpoint |
| 55 | 00:10:39,510 --> 00:10:53,340 | between the low of candle, the daily candle of May 8 2023, and the high of the candle on May 4 2023. So those two respective candles, you should shade that in |
| 56 | 00:10:53,370 --> 00:11:06,510 | with a rectangle extended to the right. And the market rallied up just fell short of the 13,004 53. And then the Thursday, we had a trade up into the |
| 57 | 00:11:06,510 --> 00:11:17,490 | consequent encroachment, which is the midpoint between 13,004 80.75 and 13,004 53, respectively, in reference to that weekly gap I mentioned. And then |
| 58 | 00:11:17,490 --> 00:11:25,740 | on Friday, we opened, rallied up to it through it, and then gave up the ghost went back down into the order block that's formed on May 9 2023, on your daily |
| 59 | 00:11:25,740 --> 00:11:36,450 | chart that down close candle. With these levels in mind, and if you shaded that fair value gap with a rectangle on May 5 on the daily chart, you're prepared to |
| 60 | 00:11:36,450 --> 00:11:45,210 | drop down into the hourly chart with me. So let's do that now. Type in six, zero and hit enter, and your chart should drop down into an hourly chart. So you |
| 61 | 00:11:45,210 --> 00:11:56,670 | should be showing at least the price action from the 10th. Where it creates the low at 4am. On Wednesday, right essentially the consequent encroachment of that |
| 62 | 00:11:56,670 --> 00:12:04,890 | daily fear that you got I mentioned this week. Before it was a fact I said the I'm favoring now and I'm interested in this area here. And my draw was to the |
| 63 | 00:12:04,890 --> 00:12:15,990 | upside, and where specifically that weekly gap. Okay, so those levels were shared with you. You knew about them in advance. I told you my bias. I told you |
| 64 | 00:12:15,990 --> 00:12:25,500 | what I've been looking for. And I did some executions. And you guys, you had an opportunity to see that. So on Wednesday, the market did in fact rally up and |
| 65 | 00:12:25,500 --> 00:12:43,080 | then we had a huge rally up at 8am to 830. So we had news driver coming up. It came up, just fell short of was a high 13,004 33.75. That candle is the 10am on |
| 66 | 00:12:43,080 --> 00:12:59,730 | Wednesday on an hourly chart for NASDAQ. And then we dropped all the way down into a repricing to the candles. High of 7am on Wednesday on hourly chart. So |
| 67 | 00:12:59,760 --> 00:13:12,480 | all that by setting balance cells on efficiency on the 8am hourly candle for n Q. We reprice back down to that, but notice the bodies. Okay. Look at the bodies |
| 68 | 00:13:12,480 --> 00:13:24,000 | on the 1pm and 2pm candle on Wednesday on the hourly chart. The wicks do the damage but the bodies tell the story. Okay. So if you'd read this, yeah, we |
| 69 | 00:13:24,000 --> 00:13:33,510 | reached down into that box and balance was on an efficiency. We also tapped into rebooked to the order block that's on the 3am candle on Wednesday. See that big |
| 70 | 00:13:33,510 --> 00:13:44,280 | down Black Candle. But my candles are black when they're down. But that's your bullish order block. So we had a fair value gap on 8am. Candle New York local |
| 71 | 00:13:44,280 --> 00:13:57,090 | time and a bullish order block at 3am. We reprice down to it. And the bodies themselves did what stayed at the current new week opening gap high and low rate |
| 72 | 00:13:57,090 --> 00:14:09,750 | inside that range and more specifically, the one hour candle at 1pm on Wednesday, and the opening price on a 2pm. candle on Wednesday, May 10. Both of |
| 73 | 00:14:09,750 --> 00:14:23,820 | those candles bodies were rate at currently week opening gap below which will be last week's new week opening gap in the market route up, trade up into on EDM. |
| 74 | 00:14:25,110 --> 00:14:35,130 | You might might be paying attention in specific times, by the way at 8am. On Thursday, May 11. We went up to consequent encroachment, which was 13,004 66.75. |
| 75 | 00:14:35,550 --> 00:14:49,140 | You should have that noted that's the midpoint between 13,004 18.75 and 13,004 53, which is that weekly gap I mentioned in tweets. So we went up to that |
| 76 | 00:14:49,170 --> 00:14:56,790 | midpoint of that which is constant encroachments stopped in its tracks went down repriced into the fair value got and bullish order block. The butcher block is |
| 77 | 00:14:56,790 --> 00:15:08,940 | the two consecutive down close candles on Wednesday, May 10. At 12 noon, to 1pm. And the fair value gap forms 2pm candle, which is a mindset and balances on |
| 78 | 00:15:08,940 --> 00:15:19,530 | efficiency is that big up close green candle. We traded down into consequent encroachment of that. And that price level for consequent encroachment for that |
| 79 | 00:15:19,530 --> 00:15:41,820 | range comes in at 13,003 64. Shooting was at point seven, five yet the low comes in at 13,003 61 and a half on the 10am Thursday candle. So just a little bit in |
| 80 | 00:15:41,820 --> 00:15:52,530 | right back up to consequent encouragement of the weekly got and then pumped right on through it just above a little bit on the 9pm candle on Thursday, |
| 81 | 00:15:52,890 --> 00:16:02,430 | hugged, traded around between that gap high on the weekly chart and consequent quarters on the gap and find them on Friday, and gave up the ghost one more time |
| 82 | 00:16:02,460 --> 00:16:12,600 | sweeping through the high of it and breaking down and trading all the way back down to a completely random current new week opening gap low. And your current |
| 83 | 00:16:12,600 --> 00:16:24,120 | New weak opening gap low for NASDAQ should be 13,003 10.50, which just happens to be the Friday low of the day to the tick. Not one short not one over right to |
| 84 | 00:16:24,120 --> 00:16:41,730 | the tick formed exactly at 2pm. So my question to you is, we were only bullish on what market NASDAQ. Okay, I mentioned that, if you were looking at both of |
| 85 | 00:16:41,730 --> 00:16:53,310 | those indices, if you're looking at Spoos, which is es it was unable to make higher highs and able to make lower lows when NASDAQ wasn't. Okay, so in your |
| 86 | 00:16:53,310 --> 00:17:01,770 | journal you want to have when you're looking at relative strength, not the indicator relative strength analysis, looking for the weaker versus the stronger |
| 87 | 00:17:01,770 --> 00:17:09,360 | or stronger versus the weaker. You want to be looking for lungs in the market, it's showing you it's willing to go higher when the other ones aren't. And |
| 88 | 00:17:09,360 --> 00:17:18,480 | unwilling to go lower when others aren't either one of those scenarios. And I'll say it again, if a market is willing to go higher, when other markets are not. |
| 89 | 00:17:19,590 --> 00:17:26,730 | And not just any other market, but closely correlated markets. So what are we referring to? When we're talking about indices? We're talking about s&p 500, |
| 90 | 00:17:26,910 --> 00:17:37,020 | NASDAQ 100, and the Dow 30. So I don't care about Russell, okay, I don't care about all these other garbage indices, you only need three to watch these |
| 91 | 00:17:37,020 --> 00:17:46,320 | markets, and you're going to use them comparatively. So a indicee, that is making higher highs or not, I'm not saying that, in a sense of a trend, don't |
| 92 | 00:17:46,320 --> 00:17:55,680 | think it's limited to just that. Yes, it's true. But I'm not looking at it from the basis of trend. I'm looking at it on the basis of market structure, and |
| 93 | 00:17:55,680 --> 00:18:04,800 | liquidity, and relative strength analysis. So if I'm looking at a market that's bullish, or deemed bullish, I want to see that market perform the upside faster |
| 94 | 00:18:04,800 --> 00:18:15,780 | than the other indices. That's the one I want to be buying, because it's breaking out the higher highs before or over the unwillingness of the other |
| 95 | 00:18:15,780 --> 00:18:26,130 | indices. That is not always the case that would create a bearish scenario for SMT. And that's why I'm telling you when people watch me do this, or they'll |
| 96 | 00:18:26,130 --> 00:18:34,620 | watch a video where I'm starting to introduce a concept like the six SR concept. Someone that's just vaguely introduced to some of my things or learned it from |
| 97 | 00:18:34,620 --> 00:18:43,980 | somebody else or whatever it's watered down, they have no idea they're doing. You think you have an understanding? And you don't? And you think that it's it's |
| 98 | 00:18:44,040 --> 00:18:54,180 | a revamping of SMT? It's not? Okay. It's very similar to the IBM when I'm talking about waterblocks. Are there any gaps? If I have a rectangle, my chart |
| 99 | 00:18:54,240 --> 00:19:03,480 | right away, the the average person on the internet says what its supply and demand curves? Look, he's drawing rectangles on the chart. That's not the same. |
| 100 | 00:19:03,870 --> 00:19:16,170 | So the logic behind what I'm saying is I want to be focusing on a specific market that I would be willing to go along. That market should be willing to |
| 101 | 00:19:16,170 --> 00:19:25,020 | make higher highs faster or before the other indices that are closely correlated to it if it was used for forex, and yes, this does work on forex. So don't think |
| 102 | 00:19:25,020 --> 00:19:32,460 | that oh, ICT is just talking about these futures contracts, and I don't trade futures. So it's making me angry. I wish you'd start talking about forex. |
| 103 | 00:19:32,880 --> 00:19:40,230 | I'm talking about markets. I'm talking about price delivery, I'm talking about algorithmic price delivery. So it's the same thing. I'm not willing to trade |
| 104 | 00:19:40,230 --> 00:19:50,250 | Forex. So because I'm trading futures, and specifically index futures, I'm teaching you the concept with the real market. I'm not talking about something |
| 105 | 00:19:50,490 --> 00:19:58,200 | after the fact. I'm not showing you a hindsight cherry pick thing. I'm telling you these things in advance and you're watching them forming your chart. That's |
| 106 | 00:19:58,290 --> 00:20:07,050 | mentoring. Okay, I'm showing up For the fact, even when I'm uncertain because of a CPI number, I still tell you what I favor. I'm telling you what market I want |
| 107 | 00:20:07,050 --> 00:20:15,780 | a favor when I'm going along, and Q stronger because ES is weaker than MQ. So from an algorithmic stance, okay, if you were taking that logic or that data, |
| 108 | 00:20:16,500 --> 00:20:27,030 | you would say, Okay, I want to trade. So where's the trade form? Well, I want to be long because MQ has a gap. And if MQ has the gap, and it's willing to make |
| 109 | 00:20:27,030 --> 00:20:36,090 | higher highs when s&p is not, and we'll get to that in a moment, and the Dow is unwilling to make the higher highs and sit right away, we've already figured it |
| 110 | 00:20:36,090 --> 00:20:45,600 | out. We've singled out we've put the highlight on what market and cube, what do we want to do with that market, we want to buy it. We don't want to sell it |
| 111 | 00:20:45,600 --> 00:20:53,940 | until it gets to the end of the weekly range, when can that form Thursday and or Friday. And we'll get to that too in this discussion. So I don't want to be |
| 112 | 00:20:53,940 --> 00:21:01,830 | going long on ES and I don't want to be going long on that. Now, that doesn't mean there won't be a little bit of a spillover. Okay, or a little bit of |
| 113 | 00:21:01,830 --> 00:21:11,340 | sympathy move. If there is a strong move to the upside with MQ, it might pull up the other indices, but not as much as MQ will go up. And in hindsight, I can |
| 114 | 00:21:11,340 --> 00:21:20,730 | talk with this now, because I told you in advance, it was gonna be like this. Look at your chart, and Q outperformed to the upside. Dow and es were lethargic. |
| 115 | 00:21:21,660 --> 00:21:34,590 | They were not willing to go up there. So my six Sr. Concept is multifaceted. So you can't just run along and Watson might put something on YouTube thinking they |
| 116 | 00:21:34,590 --> 00:21:44,640 | know what I'm doing, you have no idea what I'm doing. There's different approaches to using the six SR concept. There's times when using it with you, in |
| 117 | 00:21:44,640 --> 00:21:53,430 | your present understanding of SMT. Yes, there's, that's one facet of SMT. But I'm teaching you a more advanced version of it, where you can see like an x ray |
| 118 | 00:21:53,430 --> 00:22:04,050 | view behind price, where you should be focusing. For instance, if you're watching several forex pairs, okay. You're watching Forex, and maybe you're |
| 119 | 00:22:04,050 --> 00:22:14,940 | looking at the POUND DOLLAR, versus the euro dollar, okay. And you want to know which one to be trading. Sometimes, the Euro is a better buy or a better short |
| 120 | 00:22:14,970 --> 00:22:25,230 | than cable. Even though cable can be exaggerated cables POUND DOLLAR, by the way. Just because the POUND DOLLAR can be a little bit more animated. In the |
| 121 | 00:22:25,230 --> 00:22:35,550 | same way that n q is more animated than es traditionally, it's a little bit faster market. So that's a characteristic that you need to be aware of. So if |
| 122 | 00:22:35,550 --> 00:22:48,570 | you have a market environment that is showing you, for instance, if the POUND DOLLAR is willing to make higher highs when the Dow I'm sorry, when the dollar |
| 123 | 00:22:48,810 --> 00:23:00,720 | is either going sideways or wanting to go lower, but the Euro is unwilling to make a higher high. Which one do you want to be buying? Now, if you've watched |
| 124 | 00:23:00,780 --> 00:23:08,250 | last week or so where I started introducing the sixth SR concept, you would think okay, well, it's going to be the Euro because it has to it has to keep up |
| 125 | 00:23:08,280 --> 00:23:19,650 | with what the pound it No, no, no, no, no, no, that's, that is not, it's not that cut and dry. You have to learn more logic, I'm showing you. And then I'm |
| 126 | 00:23:19,650 --> 00:23:26,040 | teaching you that way. I'm showing you the concepts what I used. I'm calling the levels beforehand, I'm telling you what I think's going to happen. I'm telling |
| 127 | 00:23:26,040 --> 00:23:34,620 | you what to look for in your chart. And your charts are printing off of those key swing points after I say them. So that way, I'm teaching you to trust what |
| 128 | 00:23:34,620 --> 00:23:43,230 | I'm saying. So that way, it's not just simply me talk about something. It's very complicated, because this is complicated. It is complicated. It's not easy. It's |
| 129 | 00:23:43,230 --> 00:23:51,390 | not a one trick pony video, right? And go out there and say, Do this, do this, do this. And there it is. Okay, I wish it was. And I thought about this long and |
| 130 | 00:23:51,390 --> 00:23:59,640 | hard for last few months. How could ring in this specific concept? Do you need this concept? No, you don't need it. But I promised that I would teach things |
| 131 | 00:23:59,640 --> 00:24:05,550 | that haven't taught before. Even my private mentorship doesn't even know this, the folks that have been with me since 2016. They don't know this. They're |
| 132 | 00:24:05,550 --> 00:24:12,900 | learning it right alongside you. And there's no advantage for them in this specific concept. They have no idea where I'm going with it. You don't know it |
| 133 | 00:24:12,900 --> 00:24:20,490 | either. I don't care how long you've been with me. I'm not trying to talk down to you. But you're trying to put things out into the community, that it's |
| 134 | 00:24:20,490 --> 00:24:27,930 | incomplete. You have no idea what I'm talking about. You have no idea where I'm going with the information and you have no idea what to do with it. So when I |
| 135 | 00:24:27,930 --> 00:24:40,260 | sit down, I tell you which market I'm favoring. I'm factoring in the willingness of the market itself to behave a specific way. That's market profiling. That's |
| 136 | 00:24:40,260 --> 00:24:48,990 | not market profile. Okay. I'm not talking about volume overlaid on a chart and horizontal basis. Okay, I'm not talking about that. I'm not talking about V wop |
| 137 | 00:24:48,990 --> 00:25:00,480 | and, you know, all these other stuff. I'm talking about reading pure naked price action, relative strength analysis, that relative strength analysis yields The |
| 138 | 00:25:00,480 --> 00:25:10,860 | six sister concept, when the specifics are in motion when they're in play when things are as they should be, based on my analysis in which will be future, your |
| 139 | 00:25:10,860 --> 00:25:20,250 | analysis, when you can do is independent of me, which is the goal, you don't want to be toggled to a not toggle, but tethered to me as a mentor, like I have |
| 140 | 00:25:20,250 --> 00:25:26,100 | to constantly keep giving you bread crumbs. And then this year, you're not going to need me for that, which is exactly where you want to be. It might be scary |
| 141 | 00:25:26,100 --> 00:25:33,150 | for some of you. But this is what you really want. You don't want to be relying on me or anybody else, you don't wanna be buying someone service, no one else's |
| 142 | 00:25:33,150 --> 00:25:40,530 | signals, none of that stuff, you want to be independent of yourself. From everyone else, you don't really doing anything that relies on anyone else's |
| 143 | 00:25:40,530 --> 00:25:50,460 | input, you want to trust what you know, you know. But this idea of focusing on Long's you want to be looking at a market, it's willing to already show its |
| 144 | 00:25:50,460 --> 00:26:01,770 | strength to go higher, and look back and recent price action. There should be indications and price action that shows you that it was unwilling to go lower on |
| 145 | 00:26:01,770 --> 00:26:14,520 | a specific swing, or a number of candles in the past, where a closely correlated market and deference to the indices, as we're talking about here, en que was not |
| 146 | 00:26:14,550 --> 00:26:27,840 | willing, it was not willing to make lower lows, when ES and Tao was, where's that occur? Well, if you look at the end que lo, at 1pm, on Wednesday, May 10, |
| 147 | 00:26:28,980 --> 00:26:40,350 | you see that that's a higher low than that of them's formed earlier in the morning. Look at your four I am low. Now toggle, to ES all you have to do is on |
| 148 | 00:26:40,350 --> 00:26:52,620 | trading, you type in the letter E S, M 2023, everything will stay the same. And it was gonna write to ES. And you'll see that on the ES comparatively and |
| 149 | 00:26:53,130 --> 00:27:08,760 | respectively to those two turning points. There was a lower low at 1pm. On es, then the low formed at 4am. On es, but go back to N q and QM 2023 on your hourly |
| 150 | 00:27:08,760 --> 00:27:18,870 | chart, and you'll see that that was a classic SMT divergence. So what was it indicating there? It was willing to show you that if you were following what I |
| 151 | 00:27:18,870 --> 00:27:28,380 | gave you this week, looking for that daily fair value get that should be shaded on your hourly chart where it dug down into that at 4am. On Wednesday, May |
| 152 | 00:27:28,380 --> 00:27:39,660 | 10 2023. It was willing to go higher. Look at your es tu es M 2023. |
| 153 | 00:27:45,300 --> 00:28:00,810 | On Thursday, es failed to make a higher high than that of the high on May 10 at 9am. So ES failed. It fell to the idea that I shared with it on Twitter said ES |
| 154 | 00:28:00,810 --> 00:28:10,710 | is weaker than q. Now if I'm telling you one is weaker than the other. I'm indicating to you that if you are trying to trade intraday price action, and |
| 155 | 00:28:10,710 --> 00:28:18,000 | you're just trading the intraday volatility, you're not really trying to worry about big runs, which is really where we're at right now. We still have not left |
| 156 | 00:28:18,030 --> 00:28:29,460 | this Bayley range where it gives this higher degree of swing trading probability where it can move and move in like weeks in the same direction. We're not in |
| 157 | 00:28:29,460 --> 00:28:37,950 | that environment right now, folks, we haven't been for a while. So I don't know when we're going to leave that. But we have to trade accordingly. Does it mean |
| 158 | 00:28:37,950 --> 00:28:47,760 | we can't trade it? Oh, absolutely not. It just means you have to adapt. You have to adapt. I got down here started sweating my ass off because I'm not used to |
| 159 | 00:28:47,760 --> 00:28:55,470 | this kind of heat. I'm used to being up north. So I gotta shed some clothing. I'm running around here with shorts and flip flops and no shirt on. So no shoes, |
| 160 | 00:28:55,470 --> 00:29:08,100 | no shirt. But now we're talking new week opening gap. My mind was not on the half naked women around me. Okay, it's not on my wife. It's listening to country |
| 161 | 00:29:08,100 --> 00:29:15,090 | music that I can't stand listening to my mind is I got to look at what this chart was doing. Because I didn't get a chance to see it yesterday. And I'm |
| 162 | 00:29:15,090 --> 00:29:25,950 | going through withdrawal. I want to know how he closed I want to see what we did. So I wasn't permitted to have the phone with me down there. So I'm going |
| 163 | 00:29:25,950 --> 00:29:32,850 | through a little bit of withdrawal. So I said listen, I'm hot, I'm uncomfortable. You stay down here. Here's your Kindle. Here's an umbrella. |
| 164 | 00:29:33,300 --> 00:29:40,770 | Here's a drink. Enjoy yourself. When you're when you're done, just come back up to the room. So I'm here talking to you about these things. I'm looking at the |
| 165 | 00:29:40,770 --> 00:29:51,480 | chart for the first time since really half like half a day on Thursdays over I think around one o'clock or so on Thursday was less than a peak that price. And |
| 166 | 00:29:51,480 --> 00:30:00,930 | I'm going to see how we performed and true to form and thank you was the relative strength leader to the upside. And the shorts. Were better arrived on? |
| 167 | 00:30:01,410 --> 00:30:16,470 | Yes, until here's the caveat until that weekly gap was delivered on en que, so NASDAQ once it goes, let's go back to your chart on MQ M 2023. That's your |
| 168 | 00:30:16,470 --> 00:30:31,050 | symbol for trading do, you should be on an hourly chart still. Look how on Friday, we stayed inside that new week, I'm sorry, that weekly gap between |
| 169 | 00:30:31,200 --> 00:30:45,210 | 13,004 80 and three quarters or point seven, five, and the low of 13,004 53 even look at all the consolidation around that between the 6pm Thursday candle all |
| 170 | 00:30:45,210 --> 00:30:58,650 | the way to a move on at 9am on Friday, where we broke lower, and he came back and touched it on the candle at 10am. So we opened that 20 amps candle on ng or |
| 171 | 00:30:58,650 --> 00:31:13,380 | NASDAQ opened when that Ally can trade right back up to that gap low right there at 10am. On Friday when our candle, that movement. Okay, there's several things |
| 172 | 00:31:13,380 --> 00:31:19,890 | here and the app pupil will take this and write it down with a great deal of excitement and go through price action and see this does in fact, repeat. It's |
| 173 | 00:31:19,890 --> 00:31:28,980 | not just a one trick pony. This in itself is a model folks. Okay, I've mentioned this many times in teaching every time I brought in a new membership group of my |
| 174 | 00:31:28,980 --> 00:31:37,830 | private mentorship, which is no longer there. I'm teaching publicly. Okay, so stop asking me, you don't need to pay me. Okay. I'm teaching you things until |
| 175 | 00:31:37,830 --> 00:31:50,730 | November and then I'm going away, going back to my personal life. Okay. But I have an ad one, very specific PD erase. Okay, I'm not gonna teach all of them to |
| 176 | 00:31:50,730 --> 00:32:02,490 | you. But one of them I've made mentioned in public, and I've taught it in my private mentorship. It's the immediate rebalance. Okay, if you look at how, for |
| 177 | 00:32:02,490 --> 00:32:14,520 | instance, look at your MQ chart, and q m 2023. Hover over top of the Wednesday May 10 2023. candle on ng have your hourly chart, it should show that it's 2pm. |
| 178 | 00:32:14,520 --> 00:32:21,360 | If you're set to New York local time, which is how you should have your trading view chart set that way you can follow me. And it's also how the algorithm runs |
| 179 | 00:32:21,360 --> 00:32:30,000 | is everything's booked and priced on New York time. I don't care where you are, who's totally different it is what it is. This is it. So that bullish candle |
| 180 | 00:32:30,030 --> 00:32:39,810 | that buys that analysis on efficiency, that is a fair value. It does not completely get repriced, to the low, which is the high of the candle at 1pm on |
| 181 | 00:32:39,810 --> 00:32:55,920 | May 10 of 2023 when we drop down on the candle on Thursday, May 11 2023. Okay, that 10am candle, we'd made that low of 13,003 61 and a half, it did not |
| 182 | 00:32:55,920 --> 00:33:09,570 | completely trade down to the low of the fair Vega. So it left some of that open. That fair value gap is a draw when price is above it and it seeks discount. If |
| 183 | 00:33:09,570 --> 00:33:23,640 | you go back to that candle at Friday, May 12 2023 at 10am. That candle opens at 13,445.00. Notice that if you're hovering over top of it looking at upper left |
| 184 | 00:33:23,640 --> 00:33:40,110 | hand corner, Midpoint your chart, you'll see the opening price 13,004 for 5.00. Then the high forms at 13,005. Sorry, 13,004. Five, that repricing okay that |
| 185 | 00:33:40,110 --> 00:33:54,570 | repricing is doing two things to two specific things are occurring there. It's repricing back to a low of importance with low with that make the hover over top |
| 186 | 00:33:54,570 --> 00:34:12,210 | of the 8am on Friday, May 12 2023. Okay, so that low comes in at 13,004 53.75. Now that point seven five is like creating the opportunity for a mohawk. Okay, a |
| 187 | 00:34:12,210 --> 00:34:21,900 | Mohawk is where the price action just goes just a little bit past a very specific level. And when you're trading we look for very specific things in |
| 188 | 00:34:21,900 --> 00:34:33,540 | precision Yes, but there's always going to have to be this gray area which is what I taught in forex where it's usually three to five pips. Okay, so because |
| 189 | 00:34:33,540 --> 00:34:40,710 | there's different brokerage firms and brokers are using different liquidity pools and their own in house liquidity pools when you're trading Forex. There |
| 190 | 00:34:40,710 --> 00:34:51,900 | isn't. There is no centralized exchange, there's no everybody has the same price. That creates an opportunity like in the beginning. When Forex became a |
| 191 | 00:34:51,900 --> 00:34:59,970 | thing where it was opened up to the public, it was the wild wild west. I mean, brokers were getting away with murder, stealing and robbing people. Okay, and |
| 192 | 00:35:00,000 --> 00:35:10,170 | And it's gotten way, way better. But there's still this disadvantage in terms of in house liquidity versus centralized liquidity where everybody sees this candle |
| 193 | 00:35:10,200 --> 00:35:22,380 | at Friday, May 12 2023. At 8am, we all, every single trader, every living soul that wants to handle the MQ on delivery contract, June of 2023, we all agree |
| 194 | 00:35:22,380 --> 00:35:34,200 | that that high is the same high price, we can see that it's there, you can see that that's an advantage over futures, over Forex, over crypto over whatever. |
| 195 | 00:35:34,350 --> 00:35:45,480 | Okay, this has a built in advantage and it's much more refined, it's much more mature of a marketplace. And if crypto goes the way of the dinosaurs, because of |
| 196 | 00:35:45,540 --> 00:35:56,100 | central bank, digital currencies, which I'm holding that that's possible, and I don't, I don't want to be involved in forex, or, you know, trading FX, when |
| 197 | 00:35:56,100 --> 00:36:07,200 | we're moving into this central bank, digital currency. Like, I don't understand the risks, and how far and vast it can be. And that's why I've counseled you to |
| 198 | 00:36:07,500 --> 00:36:14,730 | at least respect that risk. You do what you want to do. If you want to keep trading Forex, go right ahead. You're in charge of your own finances, I'm not |
| 199 | 00:36:14,730 --> 00:36:21,510 | giving you financial advice, I'm telling you, this is the reason why I won't touch them. Because at any given time, something can happen. And we can have a |
| 200 | 00:36:21,510 --> 00:36:31,440 | deep pegging, we can have something crazy, where if I'm in that I could get wrecked very quickly, and anybody else could be crazily destroyed. Just the same |
| 201 | 00:36:31,440 --> 00:36:41,820 | way when the euro and a Swissy was the pegged, and 1000s handle, you just boom, just like that instantaneously. And brokerage firms themselves, were instantly |
| 202 | 00:36:41,820 --> 00:36:53,160 | insolvent and out of business instantly. So if you have not paid attention to the things I've been talking about for several years, you were in, we're |
| 203 | 00:36:53,160 --> 00:37:04,440 | entering that. So I'm going back to my roots, this is where I started, I was a commodity trader. And this, this is the market that I felt most confident about |
| 204 | 00:37:04,800 --> 00:37:17,010 | index futures and bonds. So I don't, I don't personally care if Forex goes away, or if we go to a one world currency, or this that nothing or crypto takes over |
| 205 | 00:37:17,010 --> 00:37:24,840 | everything else, we're still going to have the futures market in the form of index futures for stocks, there's going to be companies publicly offered, okay, |
| 206 | 00:37:24,840 --> 00:37:31,590 | that's not going to go away. So that's the reason why I went back to this. So that way for the folks that are out there running around and giving up their own |
| 207 | 00:37:31,590 --> 00:37:36,300 | opinion about what I'm doing well, I'm not doing this and that I'm reiterating what I've already said many times before. |
| 208 | 00:37:38,220 --> 00:37:54,660 | But that candle at May 12 8am. Yesterday, Friday, at on the hourly chart for in queue for NASDAQ. That low comes in at 13,004 53.75, which is point seven, five |
| 209 | 00:37:54,660 --> 00:38:09,120 | or three quarters of a point or three ticks. Above the low of that gap on the weekly chart that I showed you, which is at 13,004 53. Even the high of the |
| 210 | 00:38:09,120 --> 00:38:26,940 | candle at 10am. comes in at what one point above that low. So it's allowing for what it's allowing for that load formed on 8am On Friday, to be booked. No |
| 211 | 00:38:26,940 --> 00:38:41,610 | person that would be long, aiming for that low as a target for a short entry, or a long exit. And high frequency trading algorithms would use that just buying |
| 212 | 00:38:41,610 --> 00:38:51,780 | that opening price at 10am. An algorithm could go long there and sell at the low on the ATM candle. That's high frequency trading. They go up and down all day |
| 213 | 00:38:51,780 --> 00:39:03,360 | long, firing all day long with a little bit of a bit of a boom. And it's reading these inefficiencies in price action. Because of that candle that formed at 9am. |
| 214 | 00:39:03,390 --> 00:39:17,250 | The candle between the two I've been referring to for last few minutes. The 9am may 12. One hour candle if we would have not made the high on the very next |
| 215 | 00:39:17,250 --> 00:39:29,970 | candle at 10am as high as we did, and it matched the low of the 8am Candle if that would have fell short of that. When the candle opened at 11am. We would |
| 216 | 00:39:29,970 --> 00:39:40,920 | have a fear of a gap up there. But because the market did this, it opened and rallied up to the new week open. I want to keep calling in the week opening a |
| 217 | 00:39:40,920 --> 00:39:56,700 | rally back up to the 13,004 53 low or the weekly gap and reprice to the 8am Candles low that makes that any immediate rebalance. Now and immediate |
| 218 | 00:39:56,700 --> 00:40:07,080 | rebalance, this is for your notes. Okay, I know you guys like to do do other things. Just note that at this minute marker, okay, look at your time on this |
| 219 | 00:40:07,110 --> 00:40:17,250 | Twitter size. If you're watching it live, send yourself a text message to this specific time so that we can go and write the notes down. Whenever price offers |
| 220 | 00:40:17,250 --> 00:40:25,020 | that to you, and it's an immediate rebounds, and we've already met an objective, what's the objective, the weekly gap? I told you? Were we able to make higher |
| 221 | 00:40:25,020 --> 00:40:39,060 | highs after that? No, just hug around right above that 13,004 80.75 level on multiple hours, between the 8am to 8pm. On Thursday, all the way to the 9am for |
| 222 | 00:40:39,060 --> 00:40:49,140 | 12 hours, it just stayed around inside that gap, but just wanting to know real interest above the high that was formed at 9pm on Thursday, which came in at |
| 223 | 00:40:49,140 --> 00:41:02,040 | 13,004 94.25. So that immediate rebalanced is a signature that tells smart money, that the algorithm will start spooling price, that means it starts |
| 224 | 00:41:02,040 --> 00:41:10,890 | sending it boom, where's it going down? where's it gonna seek inefficiencies? Okay, well, let's put your candle, I'm sorry, put your cursor right on it 10am |
| 225 | 00:41:10,890 --> 00:41:27,990 | candle on NQ M 2023. That high, read prices back to a specific price level, the weekly gap low, we've already filled it, we have balanced it. What does that |
| 226 | 00:41:27,990 --> 00:41:41,640 | mean? We went up through it, we pass down through it. And then we went up, tried to chase that tested as going through it once more time, one more time. And we |
| 227 | 00:41:41,640 --> 00:41:53,190 | failed immediately with a immediate rebalance. So that's the reason why I coined the immediate rebalance. When it rebalances like that. You don't need the ranges |
| 228 | 00:41:53,670 --> 00:42:07,110 | to shorten time, you only have those three candles, the candle formed at 10am at 9am and 8am. And 8pm is low. It read books, too, and allows the price to be |
| 229 | 00:42:07,110 --> 00:42:20,640 | offered one point above that. That's allowing for smart money to get short there. It does not it will not go back to the high of 13,004 80.75. And I know |
| 230 | 00:42:20,640 --> 00:42:27,300 | when you hear that it sounds like oh, he can say that now because it's hindsight. Look at my trades folks look exactly. Every single time I place a |
| 231 | 00:42:27,300 --> 00:42:36,660 | trade and where I'm placing my stop loss. You don't see that in retail books. You have no idea why I'm doing those stock placements. Unless you have trained |
| 232 | 00:42:36,660 --> 00:42:45,180 | with me. I know that the algorithm won't go back to those levels. And if it does, say I'm wrong, I'm human, say I'm wrong, I get that wrong, then I know |
| 233 | 00:42:45,180 --> 00:42:55,320 | that I'm going to sit sideways and do nothing for that session or look to reverse. I'll teach you that this year. But there's things that you have to |
| 234 | 00:42:55,320 --> 00:43:02,130 | learn incrementally. You can't just say, Okay, I'm gonna have a conversation ICT, he's going to tell me everything he needs to tell me in a couple of videos, |
| 235 | 00:43:02,160 --> 00:43:08,310 | boom, boom, boom, I'm gonna know everything I need to know. And now never have any questions about this or that? No, you're gonna have all kinds of questions, |
| 236 | 00:43:08,670 --> 00:43:15,210 | you're gonna have a lot of questions when I'm done in November that pertain to you personally, but not how you're going to trade, you're gonna have a plethora |
| 237 | 00:43:15,210 --> 00:43:23,520 | of ideas that you can go in and find setups, and this is one of them. This is a model that in and of itself can absolutely do everything you need for trading |
| 238 | 00:43:23,520 --> 00:43:32,940 | and not have to do anything else. Don't you always say that I see. ICP. Yes, that's what I'm talking about. I have lots of models, I can create a new model |
| 239 | 00:43:33,480 --> 00:43:43,950 | every single day. And they would be independent of one another. And they are offered every single week. See, that's the problem with all of you that are |
| 240 | 00:43:43,950 --> 00:43:50,130 | coming in here and you're feeling rushed. I need to learn this right now I gotta get funded, I gotta do this, I got to do that. Blah, blah, blah. Now you got to |
| 241 | 00:43:50,130 --> 00:44:01,350 | settle down, man, you just settled down. You have to allow yourself to grow an affinity for one thing that I've taught will teach. And then once you know what |
| 242 | 00:44:01,350 --> 00:44:12,060 | that is, then you pour all your attention and your focus into that via master of one thing. Don't try to be a master of everything. It took me three, three |
| 243 | 00:44:12,060 --> 00:44:19,950 | decades, to know what I know, to be able to do what I can do. You're not going to learn it just because I can do it. I'm not gonna be able to teach it to you |
| 244 | 00:44:19,950 --> 00:44:26,940 | real fast and short. And no five minute trainer guys out there on YouTube. They're trying to convince myself they're not going to help you either. They're |
| 245 | 00:44:26,940 --> 00:44:36,870 | not. And I get it, they want money, they want clicks, they want the attention, whatever. But that's not going to help you. You have to find something that |
| 246 | 00:44:37,320 --> 00:44:46,110 | resonates with you. In this immediate rebalance. It can be a model or it for me most of the time. It's just a confirmation that okay, I'm about ready to see |
| 247 | 00:44:46,110 --> 00:44:56,340 | what strong down move. I want to see large range candles, I saw a person send a tweet to me. How do you know it when the markets going to have these big sudden |
| 248 | 00:44:56,340 --> 00:45:03,180 | rushes and big candles? How do you always do that in a review to use your video arrows are in reviewing things and you're showing your executions, you type it |
| 249 | 00:45:03,180 --> 00:45:10,770 | out, and you know exactly when it's gonna happen. It's things like this. The signature here, I have about a dozen of these types of specific things I'm |
| 250 | 00:45:10,770 --> 00:45:19,500 | looking for. That tells me right when speed and magnitude should enter the marketplace and starts to take right off. When I'm looking for something right |
| 251 | 00:45:19,500 --> 00:45:30,870 | away, it should take off right in that that candle with a very next one. That is anticipation that's not reacting to price. So you need to know what you're |
| 252 | 00:45:30,870 --> 00:45:42,150 | looking for. Why should it form? Where will it form? And where is it going? If you placed your cursor on that 10am candle, you can see that the high went right |
| 253 | 00:45:42,150 --> 00:45:53,700 | up to the low of that gap that you if you would have never placed on your chart, it would completely be hidden from you. Notice that you have the lines on your |
| 254 | 00:45:53,700 --> 00:46:04,080 | chart, because I told you about it. Everyone outside of our circle has no idea that that thing even exists, or that's even worth having any mention on. And |
| 255 | 00:46:04,080 --> 00:46:14,760 | they're surprised at how price reacted on that on Thursday and the Friday, if no idea why it did what it did. But let's go over a couple things. What did price |
| 256 | 00:46:14,760 --> 00:46:25,050 | do all week and cue go higher? Where did price originate? That long price swing higher inside that daily fair value gap. As I mentioned, I was interested in |
| 257 | 00:46:25,050 --> 00:46:33,570 | that and seeking the premium. So I gave you what the discount to premium. I gave you the bias I told you what market I was favoring I wanted to be in in queue. |
| 258 | 00:46:33,780 --> 00:46:44,730 | What market should you be focusing on for Long's and cute. So go back and do your back testing on that this week, today or tomorrow. And look at all of the |
| 259 | 00:46:44,730 --> 00:46:52,830 | timeframes, and what you can see what you can find. And don't be worried about the fact that you're looking at after the fact. Everything is learned in |
| 260 | 00:46:52,830 --> 00:47:01,470 | hindsight, every doctor never does a surgery on you or anyone else, or your loved ones. They all did back testing. They all did hindsight study. They worked |
| 261 | 00:47:01,470 --> 00:47:13,920 | with a cadaver that was not alive when they cut on it. Don't be afraid to work in the sandbox. Don't waste your time, doing silly things to rush through that |
| 262 | 00:47:13,920 --> 00:47:20,190 | thinking I got a treat with a real account. Because I won't learn unless I do it with real money. The only thing you're going to learn is that you should have |
| 263 | 00:47:20,190 --> 00:47:30,750 | never done it as soon as you did. I promise you, every single one of my students have ever done that have always sent me emails and regrets and I wish I would |
| 264 | 00:47:30,750 --> 00:47:31,920 | have listened to that. |
| 265 | 00:47:33,480 --> 00:47:42,030 | That's the most regretful thing I always receive from from students is they wish they would have never went to live fun trading as soon as they did. And they |
| 266 | 00:47:42,030 --> 00:47:54,360 | went back to square one. And the ones that made it they understood rushing to that point that makes this whole process longer for you. Because now you're |
| 267 | 00:47:54,360 --> 00:48:03,090 | listening to me stressed out because you either lost money, you're in drawdown or you've wasted money on trying to get a funded account past where you'd lost |
| 268 | 00:48:03,090 --> 00:48:10,680 | your Live account. Or you're now afraid to take trades. And you can see them after they happen and you knew they were likely to do but you're afraid to push |
| 269 | 00:48:10,680 --> 00:48:20,880 | the button. Why? Because you lost money before you learned how to reprice. So now everything is completely skewed. You have no idea what to trust anymore. So |
| 270 | 00:48:20,880 --> 00:48:29,010 | that means you have to take some time away from the marketplace. What does that mean two weeks. If you're all messed up, you're confused. You know what to do? |
| 271 | 00:48:29,490 --> 00:48:40,800 | Take two weeks, no markets, no ICT, no videos, nothing. No social media, completely devoid of all market action, nothing. Unplug, and then come back. |
| 272 | 00:48:41,700 --> 00:48:49,650 | start at square one again. Don't think you know everything. Don't assume though I watch this video before I did this. Before I did this exercise. I did this |
| 273 | 00:48:49,650 --> 00:48:59,490 | back testing stuff before. Go through it all over again. And forgive yourself for making the mistakes that you did. Because everybody that succeeds forgive |
| 274 | 00:48:59,490 --> 00:49:09,360 | themselves for doing all the silly stuff they did. I didn't I didn't find myself until I forgave myself for all this silliness, trying to make something happen |
| 275 | 00:49:09,450 --> 00:49:20,670 | with such an infant mindset about understanding what I think price identity because it's some indicator. So I got I got rid of all that stuff. And when you |
| 276 | 00:49:20,670 --> 00:49:32,400 | start seeing signatures like this immediate rebalance it repeats it's indicating that it doesn't want to leave a fair value got why? Because it Egon William, it |
| 277 | 00:49:32,400 --> 00:49:45,750 | ain't gonna be wanting to come back to it later on. Not in in the immediate future. See, my fair value gap is a deferred repricing it's a deferment to a |
| 278 | 00:49:45,750 --> 00:49:57,150 | later in in time. It will come back to that. So that's the reason why I teach you to take scaled profits. When you listen these gurus out there, they don't do |
| 279 | 00:49:57,150 --> 00:50:01,890 | an education. They don't tell you what they're doing. They don't show you what you're doing. I haven't called any Things don't anything but they aren't shared |
| 280 | 00:50:01,920 --> 00:50:07,800 | opinion about everybody else, not just me but everybody else out there. Everybody else is a scammer. Everybody else out here is doing this and doing |
| 281 | 00:50:07,800 --> 00:50:13,650 | that. But the people that are really doing it like me, I'm calling I'm telling you, I'm teaching John people with making real money, this stuff repeating. It's |
| 282 | 00:50:13,680 --> 00:50:24,300 | like clockwork Swiss precision. And I'm gonna tell you, partials are stupid. It's dumb. You took this much risk when you put the trade on first, and then you |
| 283 | 00:50:24,300 --> 00:50:32,700 | took something off, it makes no sense. Okay, making money doesn't make sense to you then period. Apparently, if you are entering on fair value gap, okay, if |
| 284 | 00:50:32,700 --> 00:50:47,070 | you're entering on a fair value gap, you will be better served as a developing student to take partials when the price is giving it to you. If, okay, here's |
| 285 | 00:50:47,070 --> 00:50:56,820 | one of those unicorn moments where you should be writing this stuff down. If you get an immediate rebalance, where price does something that would otherwise in |
| 286 | 00:50:56,820 --> 00:51:07,320 | normal instances, this should have created a lower high on the candle at 10am. When you're in QM to zero to three, NASDAQ hourly chart, Friday, May 12, at |
| 287 | 00:51:07,320 --> 00:51:16,740 | 10am, New York local time, that high of that candle. In any other instance, if we didn't trade back to that weekly get low there, that would have formed a fair |
| 288 | 00:51:16,740 --> 00:51:26,010 | value gap at the 9am hourly candle. Absolutely would have done that. I would have anticipated that. And then I would have been insulated or ran right back up |
| 289 | 00:51:26,010 --> 00:51:36,450 | into that as long as the low at 10am. On Thursday hadn't been traded through. Because right below that is sell psi. Now from that low all the way up to the |
| 290 | 00:51:36,450 --> 00:51:49,800 | high formed at 9pm. On Thursday, there is no fair value gap in that price swing. There is no inefficiency. It's back and forth but still going higher. So what is |
| 291 | 00:51:49,800 --> 00:52:04,470 | going to be the draw from that immediate rebalance at 10am. On Friday, the sell side liquidity and what the open portion of the 2pm Wednesday, hourly by Sanibel |
| 292 | 00:52:04,470 --> 00:52:15,030 | sells on efficient that big green candle or big candle up close candle at 2pm on Wednesday, May 10 2023. So those are two targets. And best case scenario would |
| 293 | 00:52:15,030 --> 00:52:28,560 | be what returning back to what? New week opening gap. It's a magnet folks. That's where fair value exists for the week. The weekly range, the weekly candle |
| 294 | 00:52:28,680 --> 00:52:36,930 | has a built in fair value gap. That is my new week opening gap. That's the reason why I teach it to you the way I teach it everybody else that sees that |
| 295 | 00:52:36,930 --> 00:52:44,250 | gap and they watch it or they see it like that. Oh, there's still the gap. They're done. They're done. There's never been a writer there's never been an |
| 296 | 00:52:44,250 --> 00:52:53,040 | author there's never been an educator he's never been a trainer has not been anybody else out there ever that ever talked about this logic but me. And I say |
| 297 | 00:52:53,040 --> 00:53:01,440 | these friggin things because I'm tired of little boys on YouTube crowing about how Yeah, this guy's supposed to have concepts. He has this and he has that |
| 298 | 00:53:01,800 --> 00:53:10,740 | motherfucker. I'm calling this shit. Like to the tick. You're out there trying to get fucking funded accounts. Can't get fucking payouts can't do shit. Stop |
| 299 | 00:53:10,740 --> 00:53:19,440 | talking about me motherfucker. Mind your own fucking business. You can't keep up with me. Okay, I'm being fucking nice to all you motherfuckers I'm allowing you |
| 300 | 00:53:19,440 --> 00:53:35,460 | to have an audience immediate rebalance, you do not take fucking partials. You don't, you don't take partials on immediate rebalance. Because it's going to |
| 301 | 00:53:35,460 --> 00:53:48,600 | have a different type of delivery. It's going to be sudden, it's gonna be one sided. Avalanche blast off, straight up vertical or straight down. In this case, |
| 302 | 00:53:48,960 --> 00:53:59,820 | that gap that we had on the weekly chart and Q I talked about it's repricing. It's going right up into that low end repricing to the low at ADM. It's not |
| 303 | 00:53:59,820 --> 00:54:09,420 | allowing a fair value get the form on the nine o'clock candle. So once it reprice is immediately right to that we already know. We already know that |
| 304 | 00:54:09,420 --> 00:54:18,270 | Thursday and Friday. If we've been seeing prices going higher for the entirety of the week, which is what we saw in in queue. It hit our objective what was the |
| 305 | 00:54:18,270 --> 00:54:33,900 | objective we're looking for that gap closure on the weekly chart between 13,004 80.75 and 13,004 53 even. So it's already worked that level. It's filled |
| 306 | 00:54:33,900 --> 00:54:46,410 | it in. It's balanced because it's offered upside delivery and over its price has moved from the low of 13,004 53 up to 13,004 at point 75. It has done so in up |
| 307 | 00:54:46,410 --> 00:54:59,340 | close candles and down close candles. So because it's offered two sided delivery, that range that was in inefficiency at one time. Before I mentioned |
| 308 | 00:54:59,340 --> 00:55:07,320 | that we were We were looking at a chart that had an actual gap there, there was no buying and selling between those two price points. It was devoid of any |
| 309 | 00:55:07,320 --> 00:55:16,920 | trading, which makes it by definition, a real liquidity void. It is not the candle that is formed at 10pm. On Wednesday, May 10. That is not a fucking |
| 310 | 00:55:16,920 --> 00:55:31,650 | liquidity void. Okay, that's not a liquidity void. That's a buy side and sell side inefficiency. Liquidity was offered there. Void is when you say liquidity |
| 311 | 00:55:31,650 --> 00:55:41,040 | void. What is the subject matter? liquidity? What about it? What's the story? What Tell me? Tell me about it. What's what's the big deal about it? It's void |
| 312 | 00:55:41,220 --> 00:55:53,160 | of any liquidity, new buying or selling took place. A buy side imbalance sell side inefficiency. That means it's one sided offered that candle at 2pm May 10. |
| 313 | 00:55:53,160 --> 00:56:06,390 | On your alley, Treffer. And q by side was offered predominantly. In comparison, what was inefficient? It didn't allow price to go back down to the previous high |
| 314 | 00:56:07,200 --> 00:56:30,090 | on 1pm. May 10. When your hourly chart for MQ until we got to Friday, at noon. And that trades down into what? Currently week opening gap. Oh, this guy is full |
| 315 | 00:56:30,090 --> 00:56:39,930 | of shit, man. He's making it up as he goes along. How many times? How many times have you seen my new week opening gap? Get respected throughout the entirety of |
| 316 | 00:56:39,930 --> 00:56:52,140 | the week, create very specific highs and lows. And we see it again here. Now, we're not supply and demand we cut through candles going all the way back to |
| 317 | 00:56:52,140 --> 00:57:05,970 | Sunday. price has gone up down through it all around it. It runs quickly off that immediate rebounds. So what does that mean? What does that mean for you as |
| 318 | 00:57:05,970 --> 00:57:19,770 | a trader? Well, you don't want to be taken partials in between the range of 13,004 53 or 440. in that vicinity that where that's where you could have been |
| 319 | 00:57:19,770 --> 00:57:26,130 | going short anywhere in that 10 to 13 handle range. You can begin short there off of that immediate rebalance. |
| 320 | 00:57:27,510 --> 00:57:38,520 | Had I been in front of the charts on Friday and not driving? I absolutely, I absolutely would have been selling short there. At the touch of that 13,004 53 |
| 321 | 00:57:38,520 --> 00:57:49,410 | Even I would have been all over hammering it if it went above it a little bit more in touch the low of the 8am candle on Friday, May 12. I would have added |
| 322 | 00:57:49,410 --> 00:58:02,550 | more. And I would have taken no partials until we drew back down into new week opening gap. I need not have gotten that low. But I would aim for one ticket but |
| 323 | 00:58:02,550 --> 00:58:12,720 | the high which is 13,003 16.25 For me, and that would have filled in I would have been peacocking around saying haha. Here's another trade. And I didn't get |
| 324 | 00:58:12,720 --> 00:58:20,760 | the very low which is the new week open and get low. But it would have been no trade. I wish I would have been like need a dose here it is. But no partials |
| 325 | 00:58:20,760 --> 00:58:30,990 | would have been taken none. And how many hours did it take to move from the immediate rebalance at 10am down to the new week opening gap. Three hours, it |
| 326 | 00:58:30,990 --> 00:58:45,870 | hits the high of the new week opening gap at 1pm. Then at two o'clock, it makes the low of the day and trades very precisely. Not one tick off the low is the |
| 327 | 00:58:45,870 --> 00:59:03,840 | 13,003 10.50 level. You see it however talker 2pm May 12 2023. On Friday, at 2pm. In New York local time, that candles low is 13,310.50. That is the absolute |
| 328 | 00:59:03,930 --> 00:59:14,370 | low of the new week opening debt. Had you never been taught this, that low would have been completely a surprise to you. And for three fucking decades. I have |
| 329 | 00:59:14,370 --> 00:59:23,550 | watched this stuff happen every single week that goes by it's happening all the time, and it's never going to change. It's never going to stop working. It's |
| 330 | 00:59:23,550 --> 00:59:34,890 | never going to be reprogrammed. It's never going to be changed. It's never going to be made obsolete. So stop fucking worrying about it. Use it. It would have |
| 331 | 00:59:34,890 --> 00:59:45,360 | been tainted by me teaching it. My flesh would have kept me from teaching it. I'm promising you that I'm promising you that. I would have never shared that if |
| 332 | 00:59:45,360 --> 00:59:56,910 | I believed in my heart it would change. Greed, selfishness I would have kept it. Can you just respect the fact that I'm being that honest with you? You keep |
| 333 | 00:59:56,910 --> 01:00:07,140 | asking me these things. Stop. If I'm teaching It's gonna keep fucking working. There you go. The stuff that I won't teach. It's not it's not for the public, |
| 334 | 01:00:07,170 --> 01:00:15,510 | it's too good. And you probably look at this thing What the hell? Yeah. next level shit. next level shit. But you don't need that. Look what I'm teaching you |
| 335 | 01:00:15,510 --> 01:00:24,060 | here, look what I've already taught. Look at the fucking money these people are making around the world, they're all doing the same shit now. They're all doing |
| 336 | 01:00:24,060 --> 01:00:30,960 | independent from me. I'm not telling them what to trade, they're trading their own setups, they learned. They took the information, they made it their own and |
| 337 | 01:00:30,960 --> 01:00:39,810 | he did exactly that to him to do. Show me what you do with it. Run with it, I want to see what you all do. I'm encouraged as a mentor to see all of you do |
| 338 | 01:00:39,810 --> 01:00:48,630 | that. I love it. I want to see you succeed. But many of you are just sitting around twiddling your thumbs worrying about man. There's no point in me doing |
| 339 | 01:00:48,630 --> 01:00:56,820 | this because it's just gonna stop working soon as I start doing it because everybody else is doing, dude, you're not a traitor. Because traders don't fuck |
| 340 | 01:00:56,820 --> 01:01:08,940 | around and think about that kind of stuff. We're doers. Traders are people that do shit. talkers, talkers, that don't do shit. They're never in these markets |
| 341 | 01:01:08,940 --> 01:01:14,940 | making any kind of waves. They're not calling anything out. They're not taking any trades. They're not booking any profits. They're not doing any withdrawals. |
| 342 | 01:01:15,030 --> 01:01:24,390 | They're not doing shit. But sitting there worrying about what if, what if, what if, if you are a witness person, you need to change it to it is what it is. That |
| 343 | 01:01:24,390 --> 01:01:31,860 | means this is a setup. I'm fucking taking it. I'm taking that trade I'm taking. I'm getting in there. And I'm taking initiative. I'm doing what it is I'm |
| 344 | 01:01:31,860 --> 01:01:40,260 | supposed to be doing. That's an opportunity. Why the fuck am I not doing it? It's not like these things are going to jump out and surprise you. If you've |
| 345 | 01:01:40,260 --> 01:01:47,790 | been learning from me, you expect this? You anticipate this stuff? You're not reacting to it. You're not surprised? You're not shocked? Holy shit. Where did |
| 346 | 01:01:47,790 --> 01:01:56,280 | that move come from? Yeah, that doesn't happen here. That only happens for new students. The enthusiasm? And yes, it's wonderful. In the beginning, it feels |
| 347 | 01:01:56,280 --> 01:02:03,930 | like, wow, this is I'm learning something I feel like I shouldn't learn is this illegal? What the hell's going on. But after a while, you get desensitized to it |
| 348 | 01:02:03,930 --> 01:02:12,420 | and you mature as a student, and you become part of our community. You're now part of this hive mentality. We're winning. We're the cult of fucking winning. |
| 349 | 01:02:12,450 --> 01:02:19,620 | Okay, if you had a problem with that, get the fuck out of here. We don't mess around with people that don't want to do the right shit. Okay? You want to make |
| 350 | 01:02:19,620 --> 01:02:25,350 | money. You want to learn how to read these fucking markets and know exactly what's going on. You are in the right place. I'm not asking you for a fucking |
| 351 | 01:02:25,350 --> 01:02:33,360 | dime, you ain't got to do anything. But show up, take notes and repeat that same thing every single week. And I promise you come November, you're a fucking |
| 352 | 01:02:33,360 --> 01:02:42,090 | savage. Okay, you're gonna know exactly what you're going to do. And if I collected half a dozen of you, or dozen of you, and said, Okay, come together |
| 353 | 01:02:42,090 --> 01:02:50,520 | right now. What do you trade? How do you trade? It's not going to be an agreement. But you're going to be profitable, independent mindsets, looking for |
| 354 | 01:02:50,550 --> 01:03:03,570 | very specific things. They're algorithmic, they repeat their timing based timing price based premise. These things are going to repeat because there is a fucking |
| 355 | 01:03:03,570 --> 01:03:13,350 | algorithm because it's coded it's going to do this shit because it's supposed to do it why they probably deliver like that on in queue, because it had already |
| 356 | 01:03:13,350 --> 01:03:25,260 | delivered what it was reaching for it and I told you that the beginning of the week that gap filled bounced rebooked, lower random level know, the shit I |
| 357 | 01:03:25,260 --> 01:03:40,650 | taught you. But there's two types of delivery. Delivery that allows you to do what? Sit back and wait. Because that for target is coming. Now I've done |
| 358 | 01:03:40,650 --> 01:03:53,340 | examples of this executions where I take no partial. I pull out my heavy artillery, no partials, its dominance. When that is in the price action, you |
| 359 | 01:03:53,340 --> 01:04:01,710 | have to know what it is doing beforehand, so that we can anticipate that type of trading otherwise, in the beginning. I mean, let me slow down here for a second |
| 360 | 01:04:01,710 --> 01:04:10,110 | because a little animated guitar, spend a lot of time in the car, listen to country music and pent up. And there's country fans listening to me and don't |
| 361 | 01:04:10,110 --> 01:04:17,100 | take offense to that this button can stay in country music. But anyway, there are some of you they're gonna listen to this and say, Okay, that's it. This is |
| 362 | 01:04:17,100 --> 01:04:23,940 | the this is the next level, I'm going to skip over all the bullshit. I'm going to look for the trades that ICT aims for, but there's no partial taken. You'll |
| 363 | 01:04:23,940 --> 01:04:31,650 | never get there like that. Because you have to learn gradually, which is why I teach all my students to take partials because you don't know when you're wrong. |
| 364 | 01:04:32,370 --> 01:04:39,990 | You don't know that yet. You can't identify when everything this has shifted in your favor from what you thought was a setup. Now it's confirming you're wrong. |
| 365 | 01:04:40,380 --> 01:04:47,010 | But because you don't have the experience. You don't know what that is in price action. You can't observe it and can't identify it. So you can't do what you |
| 366 | 01:04:47,010 --> 01:04:58,950 | cannot adapt and remove yourself from risk or reverse. So you'll fall victim and you may have had a unrealized profit and paper where you didn't take the trade |
| 367 | 01:04:58,950 --> 01:05:08,580 | off with Even with a live account, you could have unrealized profit. That was handsome at one moment. And then something shifts in that market structure. And |
| 368 | 01:05:08,580 --> 01:05:17,460 | you overstayed your welcome. And it turns on you and becomes a losing trade. And then you're what you're going to think about that as a new student or a new |
| 369 | 01:05:17,460 --> 01:05:24,810 | trader is, this shit doesn't work. It's it's a scam, it's a fraud. This stuff was never going to work out. They're changing the algorithm, instead of saying, |
| 370 | 01:05:25,500 --> 01:05:33,060 | Yeah, at one time, I had $2,000 in profit, but my dumbass didn't fucking take it because I don't want to take partial because I listed some fucking Joker on the |
| 371 | 01:05:33,060 --> 01:05:46,950 | internet. You have to take them as you grow. Okay, you have to take the fruit as it's offered. It's sustained you, it rewards you. And that is what's necessary. |
| 372 | 01:05:47,880 --> 01:05:57,450 | Now, I said as many times as a martial artist, in any Western world, we have all these different colored belts. You know, in Asia, there is no belt system like |
| 373 | 01:05:57,450 --> 01:06:08,190 | that. It's a westernized version of rewarding lazy fucking people. Okay, and there's so many people that join services, gyms, martial arts, whatever. Okay, |
| 374 | 01:06:08,250 --> 01:06:18,270 | anything it takes effort. If it's being monetized, it's always put in a graduated presentation, because most people are going to quit that's the reason |
| 375 | 01:06:18,270 --> 01:06:26,430 | why I did 12 month mentorship to because I'm not going to lay all my good shit down for the guy that just wants to join one fucking month. Fuck you. You ain't |
| 376 | 01:06:26,430 --> 01:06:32,010 | got to put the time in. I'm not going to lay it all out there but for the people that want to pitch later on. I think I'm right back to month one content that |
| 377 | 01:06:32,010 --> 01:06:41,940 | you can see all on my YouTube channel. You don't need anything else but that month one core content that is you putting your fucking job. There it is. It's |
| 378 | 01:06:41,940 --> 01:06:54,420 | done. But you don't want to do that because it's not sexy. It doesn't have all the bling. It doesn't have all the hopped up on goofballs bullshit that's |
| 379 | 01:06:54,420 --> 01:07:02,880 | wrapped around with social media sugarcoating this and sugarcoating it, but that right there beats the brakes off every Vulcan thing else. And it's boring. It's |
| 380 | 01:07:02,880 --> 01:07:10,830 | simple. It's straight to the fucking point, but nobody gives a fuck about it. Why? Because I don't go out there and make video series is about I've tempted, |
| 381 | 01:07:10,980 --> 01:07:19,710 | I've been tempted this thing I'm gonna come out here and come up with some silliest fucking name. Okay, and I guarantee you had I done this there would |
| 382 | 01:07:19,710 --> 01:07:26,580 | have been a huge group of the internet would be out there fucking making videos and making courses around it and shit. And if I caught it like |
| 383 | 01:07:29,160 --> 01:07:39,420 | market assess and high frequency trading algorithm. What the hell, that's a bang and as title like, I'm fucking watching that shit. That's the That's the stuff I |
| 384 | 01:07:39,420 --> 01:07:49,410 | want to see. New week open. And guess what? My kids about that. I want to hear assassin shit. You know, I want to John wicks you tutorial on trading, like for |
| 385 | 01:07:49,410 --> 01:08:00,180 | shit, right? So, but it would have been all on month one core content. And I could have packaged that shit. And made it look like it was completely utterly |
| 386 | 01:08:00,180 --> 01:08:13,290 | brand new. But you still will be using the same vernacular and vocabulary from month one. And I would show trade examples and be like, it's just it's been it |
| 387 | 01:08:13,290 --> 01:08:23,280 | would have been just month one core content because you didn't apply it. Some of you are addicted to learning, but you aren't addicted to succeeding. You want to |
| 388 | 01:08:23,280 --> 01:08:32,310 | be entertained? And honestly, I have I have fun doing these things. I do absolutely love it. Forgive me. Sometimes I talk to him like I shouldn't do. But |
| 389 | 01:08:32,310 --> 01:08:41,310 | it is what it is. Okay. I'm not perfect. I'm a human being. And sometimes I feel like I have to have sentience enhancers. And I shouldn't be listened to around |
| 390 | 01:08:41,310 --> 01:08:48,570 | your children, okay, because I'm capable of going off the rails. But when I'm talking to you like this, and when I'm telling you these things, it's for your |
| 391 | 01:08:48,600 --> 01:08:56,970 | edification, it's for you to be better to know what it is that you should know, focus on the things you should be focusing on. And spending time studying price |
| 392 | 01:08:56,970 --> 01:09:12,420 | action with those premises in mind. The idea of looking at relative strength analysis, and also incorporating time and price day of week phenomena. Think |
| 393 | 01:09:12,420 --> 01:09:23,730 | about like this, if you were to take this chart, and you Okay, tap target to the weekly charts, you type in number one and W Okay, and it'll take you back to the |
| 394 | 01:09:23,730 --> 01:09:37,920 | weekly candle or weekly chart, that chart candlestick that we just closed for last week on Friday yesterday. It is what would be otherwise deemed by other |
| 395 | 01:09:37,920 --> 01:09:46,920 | traders or new Steve Nielsen's group of people that would be viewed as made times like an indecisive candle. Because we opened we traded down for you to |
| 396 | 01:09:46,920 --> 01:09:56,670 | detail where the width below the candle and then we rally up to our gap which is what was called beforehand and then it traded down away from that gap and closed |
| 397 | 01:09:56,700 --> 01:10:06,870 | high above the opening price. But there's a wick of both. And that candle on the weekly chart, it's a wick above it and with the lower, so it's a very small |
| 398 | 01:10:06,870 --> 01:10:17,220 | little body portion of that weekly candle. So when I look at time based charts, when I see that candlestick like that, I'm not looking at that, as in |
| 399 | 01:10:17,220 --> 01:10:26,130 | decisiveness, I know that that high went to a specific level. And when I used to look at those candlestick formations, I used to think to myself, Okay, everybody |
| 400 | 01:10:26,130 --> 01:10:33,930 | else thinks that's in decisiveness. Steve Nelson is not going to go in his books and talk to you real time and say, it made that because it was going up to that |
| 401 | 01:10:33,930 --> 01:10:45,930 | gap. So all those inefficiencies in education, because there's inadequacies in everything else out there in the world and trading, it's bullshit mostly, and |
| 402 | 01:10:45,960 --> 01:10:52,230 | they're not gonna be able to tell you with a high degree of precision, what's about to happen, and why should happen and what time it's going to occur. That's |
| 403 | 01:10:52,230 --> 01:11:02,250 | the difference between me. I'm a fucking cheetah and Greyhound race, okay, I don't need to do all these other things for all of you. But if you're here to |
| 404 | 01:11:02,250 --> 01:11:13,050 | learn, listen and compare, by contrast, the things I'm telling you to look for in price action, they're the key turning points. That's the framework. That's |
| 405 | 01:11:13,050 --> 01:11:28,830 | the beginning building blocks of you finding your model. Finding those setups in ES. Let's go over to ES. And we'll close this carnival like atmosphere with what |
| 406 | 01:11:28,830 --> 01:11:38,520 | I promised, which is Spoos. So you should be on a weekly chart for ESM two, zero to three on trading view. And look at the price action here on this. This is a |
| 407 | 01:11:38,520 --> 01:11:54,420 | turd like this didn't do anything this week. It was nasty. But it did offer some sell side. It did offer some shorts. I called out the My mind is trying to think |
| 408 | 01:11:54,420 --> 01:12:00,000 | about when it was I think it was Wednesday morning. I think it was Wednesday morning. I don't know to be honest with you. I don't know what day it is because |
| 409 | 01:12:00,000 --> 01:12:11,400 | it's Saturday and I've been jet lagged because of driving down here. And when the beds comfortable here, by the way, but when I'm away from my home, I it |
| 410 | 01:12:11,400 --> 01:12:18,720 | takes me a day or two to kind of like, you feel like you're in a stranger's house, you know what I mean? So when we moved into our new house, it was |
| 411 | 01:12:18,870 --> 01:12:27,150 | literally like a month before I wouldn't wake up in the middle night and look around, like Where the hell am I at. But going, yes, let's drop into a daily |
| 412 | 01:12:27,150 --> 01:12:36,630 | chart. So you want to type in number one and hit the D and then enter. And that will open up your chart on ESM 2023. That's your symbol for trading view, in |
| 413 | 01:12:36,630 --> 01:12:50,220 | case you didn't know. There is a fair value gap on the daily chart on May 5 2023. Okay, so that's a Friday. So if you highlight that, put that on your |
| 414 | 01:12:50,220 --> 01:13:03,840 | chart with a rectangle. And you would start by drawing it from the high on Thursday, May 4 2023, up to the low on the May 8, low, that drag that rectangle |
| 415 | 01:13:03,870 --> 01:13:14,070 | to the right. Okay, and you're gonna see that there's two candles, that sweep below it, but just a little bit that is on Wednesday, of this past week and |
| 416 | 01:13:14,070 --> 01:13:27,960 | Friday of this past week. Now that you have that range, you want to go into the same thing with the Tuesday. Fair value gap. So you want to draw a rectangle, |
| 417 | 01:13:28,140 --> 01:13:40,050 | this rectangle, you want to make this red, or something other than what you just drew for the other fair value gap. So you're going to draw from the low you can |
| 418 | 01:13:40,050 --> 01:13:51,330 | draw a rectangle from the low of May 1 2023 on your daily chart of ESM two zero to three. So June contract for Emini, s&p, and you'll draw the rectangle over to |
| 419 | 01:13:51,330 --> 01:14:01,620 | the right to the high of May 3 2023. You know, I thought I was going to do a video but you know, I'm not I'm gonna use this as a filtering. If you can't go |
| 420 | 01:14:01,620 --> 01:14:09,210 | through your charts and replay this and do this your charts you can't learn from me. And I'm not gonna hold your hand. Okay? If you can't go into your charts and |
| 421 | 01:14:09,210 --> 01:14:18,330 | listen to me, I'm giving you the various channels to do this. This is why I like doing Twitter because it separates the week. It separates the the chaff from the |
| 422 | 01:14:18,330 --> 01:14:31,800 | wheat, it takes the lions and makes them hungry. Champions over these charts they these individuals that that just simply want to have a handheld and just |
| 423 | 01:14:31,830 --> 01:14:40,680 | give it to me on a silver platter bullshit. Hey, I can't call you anymore. Like I can't do that. Because all I'm doing is making you weaker by doing it. |
| 424 | 01:14:41,460 --> 01:14:49,140 | Entertaining ICT do do all the work for me it do all the heavy lifting and just give me the chart what to focus on. I'm telling you what to look for. This is |
| 425 | 01:14:49,140 --> 01:15:01,350 | how we're doing it. Okay, that fair value got on the daily chart of May 2 2023. That's Tuesday. The gap is formed with the low of May 1 2023. And the high of |
| 426 | 01:15:01,350 --> 01:15:12,000 | May 3, so you can draw your rectangle to the right on your chart. And you'll see that there's two candles that touched into that gap. Those being on Wednesday, |
| 427 | 01:15:12,360 --> 01:15:26,610 | May 10 2023, and the high of May 11, which is Thursday of this past week. Okay, so my rectangle that I just did here for the premium, I had that shaded and like |
| 428 | 01:15:26,610 --> 01:15:41,100 | a, like a pink or red hue, and I have a blue rectangle for the fair value that that was formed on. May 5, okay, and then we're obviously talking about the |
| 429 | 01:15:41,130 --> 01:15:54,570 | daily chart. So my focus was primarily on the long side for MQ because of the weekly gap. And it was showing a willingness to want to go higher when Dow and |
| 430 | 01:15:55,620 --> 01:16:05,010 | es was unwilling to go higher. Every time ES and Dow would make lower lows, NASDAQ would push back and say, I'm not willing to go down here, that is a |
| 431 | 01:16:05,010 --> 01:16:15,000 | signature that's telling you, when internals shift in the marketplace, and anything that would be allowed to go higher, is permitted to go higher. It's |
| 432 | 01:16:15,000 --> 01:16:23,100 | telling you, it's showing you like a billboard sign, okay, neon sign flashing, this is the one that you want to be buying. This is the one you want to be |
| 433 | 01:16:23,100 --> 01:16:30,000 | buying. This is the one you want to be buying. Where did I learn that from? I learned that from a 1970s book, from Larry Williams, how I made a million |
| 434 | 01:16:30,000 --> 01:16:40,500 | dollars trading commodities last year. It's a small little section in that book as a small chapter. But folks, I'm telling you that fucking shit works. It |
| 435 | 01:16:40,500 --> 01:16:51,750 | changed a lot of things about how I look at price, it changed the way I look at specific indices, or markets that are closely correlated. Like, those are the |
| 436 | 01:16:51,750 --> 01:16:58,710 | building blocks, that is not the entirety of my analysis. I took that information and supercharged it. |
| 437 | 01:17:00,840 --> 01:17:08,220 | Don't believe me, go and look at his book, go buy, you should have it in your library anyway. I'm not going to get a kickback, I'm not giving you an affiliate |
| 438 | 01:17:08,220 --> 01:17:13,980 | link, I don't have an Amazon account where I can put a link up and when you buy it, I get a kickback. Fuck all that, go buy the book where the fuck you want to |
| 439 | 01:17:13,980 --> 01:17:26,670 | buy that book. It taught me the beginning stages of how I'm internalizing price action here, and I took it in supercharge that there's certain things that |
| 440 | 01:17:26,670 --> 01:17:40,380 | repeat at certain times. Whereas nuclear weapons don't make any mention of that stuff. But that's the that's the beginning that was the the 1995 catalyst. That |
| 441 | 01:17:40,380 --> 01:17:49,170 | changed for me, where I was really reading that chapter. And going through my my charts and thinking myself if there's something that I need to pay more |
| 442 | 01:17:49,170 --> 01:17:59,460 | attention to, and I'm going to spend it in this. And I started looking at old data and had data fucking shit, I paid for a lot of resources for charts and |
| 443 | 01:17:59,730 --> 01:18:07,830 | things that were really old and before my time as a trader. And unfortunately, it was a website that doesn't exist anymore, where you could pull up a daily |
| 444 | 01:18:07,830 --> 01:18:18,420 | chart of any futures contract for like 50 years back, and you could literally see the volume, the way the open interest was, it was, it was amazing. It's |
| 445 | 01:18:18,420 --> 01:18:29,580 | frickin amazing. But they went out of business and I just wished, man, I wish they would come back. But it doesn't, it doesn't exist anymore. So but I would |
| 446 | 01:18:29,580 --> 01:18:38,790 | go back and look at all those old moves. And I was like man, like this is a treasure trove of studying and building a really rich understanding and tapestry |
| 447 | 01:18:39,030 --> 01:18:48,870 | of how prices booked not just in futures but every other asset class, except for crypto because I don't cosign for that. Okay, so there you go. But if you look |
| 448 | 01:18:48,870 --> 01:19:02,460 | at this premium fair value gap, which is formed on May 2 of now again, we're on the daily chart of es es M 2023 Is your symbol for trading view on your daily |
| 449 | 01:19:02,460 --> 01:19:14,670 | chart, hover your cursor over top of May 2 2023. That's a premium fair value gap in a discount fair value gap was formed on May 5. Okay, so there should be |
| 450 | 01:19:14,670 --> 01:19:23,760 | rectangles drawn on your daily chart and drop down into an hourly charge, just type in six zero, enter and it should toggle your chart to a hourly chart and |
| 451 | 01:19:23,760 --> 01:19:35,580 | look at the wonderful price delivery between those two fair value gaps. On the 10th. We deliver it up into it the bodies didn't even touch the premium. Then on |
| 452 | 01:19:35,580 --> 01:19:50,640 | the 11th at 3am 4am and 5am. We whipped up into it but the body's still not up there. Every time we went up into that premium fair agar we sold off down into |
| 453 | 01:19:51,240 --> 01:20:01,350 | the minimum of at least the high of the discount fair value got which would have been again I cheated my blue you Now there's something you're pissed off, right? |
| 454 | 01:20:01,350 --> 01:20:08,070 | And think, man, I don't know what he's doing. It's all in the very thing I'm talking about. It's in record, I'm recording this, it'll be there, you just play |
| 455 | 01:20:08,070 --> 01:20:16,050 | it and do exactly what I'm doing and telling you what I'm doing with your chart. This is interactive. That way, you'll see it on your chart. And when you see it, |
| 456 | 01:20:16,050 --> 01:20:24,960 | and you annotate it, it's all you it's your information, your annotations. You see it, I'm not pointing to it, you're drawing your own analysis and your own |
| 457 | 01:20:25,620 --> 01:20:33,510 | perspective from what it is I'm talking about in the chart, but you'll see exactly what I'm referring to. So think about it like overbought, oversold, |
| 458 | 01:20:34,590 --> 01:20:43,440 | okay, between these two fair value gaps, because I'm not interested in going long in ES, I wasn't interested in going long es this week, I was only |
| 459 | 01:20:43,440 --> 01:20:54,210 | interested in going wrong in Q. So NASDAQ was my choice for upside. And I said that es was weaker than n q, that was your tip off, okay. If shorts are forming, |
| 460 | 01:20:54,480 --> 01:21:07,830 | you want to be focusing on shorting. Yes, and not so much on NASDAQ. Look at the fair value get that formed on Thursday, May 11, at 6am. On your hourly chart for |
| 461 | 01:21:07,860 --> 01:21:16,260 | ESM, two, zero to three, we roll back up into that, that eight o'clock in the morning. So that market report that came out at 830. It's what it's showing you |
| 462 | 01:21:16,260 --> 01:21:27,600 | that price delivery, went up, went a little bit above the low of the 5am candle, and then gave up the ghost and traded all the way down to 4122, which is an old |
| 463 | 01:21:27,600 --> 01:21:36,840 | new week opening gap. I'll let you do your own analysis and study and find out which one that is. ICT you're really getting bad as teaching. I never claimed to |
| 464 | 01:21:36,840 --> 01:21:48,420 | be the best teacher. And then the market trade again lower when below the low formed on Thursday at 10am. On Friday, making the low at 2pm. And then repricing |
| 465 | 01:21:48,420 --> 01:22:08,430 | back to an old new weak opening gap low at 4136. And the high of that discount. Daily Fairbury yet so short only where the best moves for ES in my opinion, |
| 466 | 01:22:09,090 --> 01:22:22,650 | belongings were better served on in queue, go back to your NASDAQ chart. By having an expectation anticipating price delivery to the upside on that weekly |
| 467 | 01:22:22,650 --> 01:22:34,410 | chart for ES that gap. Remember the levels at 13,004 80.75. And the low of that gap being 13,004 53. Even that was the drop in liquidity. The market wants to |
| 468 | 01:22:34,410 --> 01:22:43,530 | reach up to there. And it did. So there was nothing really clear with ES showing no willingness to want to go higher with NTU. So it's telling you it's being |
| 469 | 01:22:43,530 --> 01:22:52,740 | held. It's in a holding pattern, it means it's being manipulated heavily, not being permitted to trade higher. But what market was telling you it could go |
| 470 | 01:22:52,740 --> 01:23:01,650 | higher. And you so therefore, if MQ is the higher reaching market that wants to go higher, it's been given clearance the trade higher because it's given you |
| 471 | 01:23:01,650 --> 01:23:11,400 | signatures by saying okay, on the 10th it didn't make that lower low when ES and Dow did. So it's showing you okay, there's SMT. And now does it want to make |
| 472 | 01:23:11,400 --> 01:23:19,710 | higher highs and do down close candles? Find support? Yes. So it's telling you order flow is bullish. So what do you reach for higher timeframe objective |
| 473 | 01:23:19,710 --> 01:23:33,840 | whereas the John liquidity weekly chart that gap? What did your chart print that gap? So when we're looking at price action, it's not just simply go out there |
| 474 | 01:23:33,840 --> 01:23:42,810 | and say, Okay, well, I see T trades and Q, I'm going to trade the ES because that's going to be my model. That might be true sometimes. But you'll also get |
| 475 | 01:23:42,810 --> 01:23:55,560 | frustrated when it's a market like this, in this past week where we had manipulation. Think of it like this, for forex trading, when the dollar index is |
| 476 | 01:23:55,710 --> 01:24:06,240 | being held in consolidation. forex pairs that are not coupled with $1 will have extrapolated prices. So you had to do a lot of you have to do one step more in |
| 477 | 01:24:06,240 --> 01:24:16,410 | your analysis to trade those pairs. I call them exotics, dollar based crosses, they're just the standards. So anything apart from $1 based forex pair, to me is |
| 478 | 01:24:16,410 --> 01:24:28,470 | an exotic, so if you're trying to trade those exotic pairs, in forex, you're better suited when the dollar index is not poised to move directionally. So if |
| 479 | 01:24:28,470 --> 01:24:35,340 | it's being held in consolidation, that's a green light go and I've talked to some core content by the way, in case you haven't got to that point yet I go |
| 480 | 01:24:35,340 --> 01:24:44,700 | into great detail. But there's cross pair manipulation that occurs in forex, that if you don't have the understanding about what it is that the dollar is |
| 481 | 01:24:44,700 --> 01:24:52,410 | telling you, if the dollar is being held in consolidation, you don't want to be trading euro dollar. You don't wanna be trading POUND DOLLAR. You want to be |
| 482 | 01:24:52,410 --> 01:25:02,490 | trading LT dollar or New Zealand dollar or dollar yen, or dollar Swissy. You don't want to be trading those pairs You want to be trading the strongest |
| 483 | 01:25:02,490 --> 01:25:11,430 | performing currency? What would that look like? Well, what NASDAQ was showing here, willingness to go higher, when others aren't willing to make a lower low, |
| 484 | 01:25:11,460 --> 01:25:19,320 | when others are making lower lows, no, it's going to repel. And not saying I'm going to go lower like you. So that's telling you it's strong. Now, if you |
| 485 | 01:25:19,320 --> 01:25:29,820 | couple that with a currency, that is showing easy price delivery going make lower lows, and failing to make higher highs. Or here's one more advanced |
| 486 | 01:25:29,820 --> 01:25:40,440 | version of it. Fair Value gaps not getting filled or even retreated back up into that's it exceedingly weak market. So if you compare and look for strong Forex |
| 487 | 01:25:40,440 --> 01:25:50,400 | currencies, not pairs, currencies individually, that are going higher, or showing relative strength versus a currency pair that's weak, then between those |
| 488 | 01:25:50,400 --> 01:26:00,540 | two currency pairs, you find the exotic that makes that pair. And if it's the stronger being listed in the name of the currency pair first, then you want to |
| 489 | 01:26:00,540 --> 01:26:13,170 | be buying that exotic, and you're going to have a very handsome price wrong, while the dollar goes nowhere. Like drop, that's the shit that you don't learn |
| 490 | 01:26:13,170 --> 01:26:22,320 | books. That's the stuff that when you get with somebody that knows what's going on, and how to read price, and not just simply look at price action, you have to |
| 491 | 01:26:22,320 --> 01:26:29,760 | know you have to know the lay of the land, you have to know the environment, you're trading the market profile, the schematic that the market itself is |
| 492 | 01:26:29,760 --> 01:26:39,390 | under, you have no idea these Yahoo's out there, they're talking about the their their masters, their price action masters, okay, the fuck your master this, you |
| 493 | 01:26:39,390 --> 01:26:49,440 | ain't got any clue what you're doing, you got this a sprinkling of everybody else's shit, mostly mine. And you don't even know it. There's a difference |
| 494 | 01:26:49,440 --> 01:27:01,170 | between knowing and being familiar with. There's a difference between explaining something after it's happened. But not being able to do it in detail and call |
| 495 | 01:27:01,170 --> 01:27:01,800 | off, you know, call |
| 496 | 01:27:01,800 --> 01:27:18,180 | it out in detail what it should be doing. I gave you go back to collect it collected. Thank you. So thank you, m 2023. And let's go to a five minute chart. |
| 497 | 01:27:19,770 --> 01:27:26,940 | So just type a five and hit enter and you'll drop into. Alright, and if you recall back on. |
| 498 | 01:27:33,600 --> 01:27:50,070 | Actually, I think I missed the timeframe. Look at Wednesday, May 10, on a 15 minute timeframe for en QM to zero to three. So we're looking at NASDAQ June |
| 499 | 01:27:50,070 --> 01:28:04,230 | contract. And again, for trading view, the symbol you would type in would be NQ M 2023. And you want to put it on a 15 minute candlestick chart. And you want to |
| 500 | 01:28:04,230 --> 01:28:17,610 | take your cursor and move it over and hover over top of Wednesday, May 10 2023. And it's the 2:30pm New York local time candle that's a boss Annabelle. So Simon |
| 501 | 01:28:17,610 --> 01:28:29,280 | efficiency fair, there you go, you see that? Draw a rectangle on that and draw it to the right you'll see that we drop down into that on the 10:30am, Thursday, |
| 502 | 01:28:29,850 --> 01:28:38,280 | May 11 2023, we have a little bit of a mohawk, where we just go down just outside of that low the fair value got just a little bit that allows the |
| 503 | 01:28:38,280 --> 01:28:49,560 | algorithm to provide the liquidity for anybody that wants that low the fair value gap. So to get that low booked on a short cover, or to go long that needs |
| 504 | 01:28:49,560 --> 01:28:57,330 | to offer what at least one tick difference. So it has to go just outside the line. Okay, so we're not discouraged when price moves this a little bit outside |
| 505 | 01:28:57,330 --> 01:29:06,300 | of what we're looking for. It's still precise, and a Mohawk is my way of this explaining how the market can sometimes color outside the line. In Forex, I've |
| 506 | 01:29:06,360 --> 01:29:15,510 | built in all my concepts with three to five pips of variance and that's why I tell you you know the folks that always claimed they got one pip and two pip |
| 507 | 01:29:15,510 --> 01:29:23,550 | stop losses and they can do it all the time. And they always do it like that. You know I always say that's bullshit because your broker because I'm gonna say |
| 508 | 01:29:23,550 --> 01:29:29,400 | if I ran a brokerage I would do that shit. I would clean the floors with everybody that had that kind of shit but they put their stop loss where I can |
| 509 | 01:29:29,430 --> 01:29:37,830 | expand that spread just a little bit more and I get it and I would trade against them. I would be booked everybody and this is the way it is because your brokers |
| 510 | 01:29:37,830 --> 01:29:43,680 | telling you they're doing it anyone you sign up you never read those fucking applications you never read them you know you didn't you don't read them just |
| 511 | 01:29:43,680 --> 01:29:50,700 | like when you bank open up a bank account. You're saying here's my mind. And I agree to the rules. It says if you'll give it back to me if you feel like you've |
| 512 | 01:29:50,700 --> 01:29:59,610 | been back or if the market provides you the means to do so. Until then the money is taken legally yours. You don't read that but that's exactly what he's |
| 513 | 01:29:59,610 --> 01:30:10,320 | decided. Have, you just signed up for that show every single time. So we have to make certain allowances for price action. But there's not three or five handles |
| 514 | 01:30:10,590 --> 01:30:22,080 | of variance in forex comes, I'm sorry, futures trading is very small, up to one full point, which is four ticks. That's about enough for me. Anything more than |
| 515 | 01:30:22,080 --> 01:30:35,040 | that? I'm probably way off in my analysis. But you'll see that within four ticks, generally the things I'm teaching you are going to book and one point, |
| 516 | 01:30:36,330 --> 01:30:45,930 | slippage, we'll call it that, in terms of accuracy. I think that is, that's astounding. I've never seen anybody else to have anything conceptually, that |
| 517 | 01:30:45,930 --> 01:30:54,330 | allows for that, just that small portion. And I don't even need that that much. I mean, look at the things I show you. Like, it's usually right to the tick. But |
| 518 | 01:30:54,330 --> 01:31:02,130 | I allow for my own analysis, I allow for four ticks variance when I'm trading index futures. So in my analysis, and my stops, and all these sorts of things, I |
| 519 | 01:31:02,130 --> 01:31:10,860 | allow, and I build in that fluff, that could allow for just a little bit of coloring outside the lines, where it would otherwise scare other people. Like, |
| 520 | 01:31:10,860 --> 01:31:20,400 | at some point, if people were looking at this as a student of mine, and he had that fair pay gap, noted from May 10, on the 15 minute chart at 230. extended |
| 521 | 01:31:20,400 --> 01:31:30,540 | out in the candle forming on 1030, on Thursday, when it was bold, faced bearish. And it was below that I'm sure they were probably sweating thinking, man is this |
| 522 | 01:31:30,540 --> 01:31:41,220 | thing gonna go, it's just gonna keep going, it's gonna keep dropping No, it's It's allowing for that delivery, to get the very low of a fair rate. And then |
| 523 | 01:31:41,220 --> 01:31:51,390 | the market does what it closes at the higher the fair value got on that 10:30am. And then it opens right at that Fair Pay Gap high and then runs away, up to the |
| 524 | 01:31:51,390 --> 01:32:00,630 | upside drops back down into the order block that formed at 1030. And then rallies, higher backups into consequent encroachment of that weekly gap, that |
| 525 | 01:32:00,630 --> 01:32:18,540 | real liquidity void at 13,004 66.75. And subsequently, find some support at the low of the gap on 8pm, Thursday, and in rallies to build that weekly got. So you |
| 526 | 01:32:18,540 --> 01:32:28,530 | have price delivery, that you can go back and back test, you can look at all these things and how they repeat. But I gave you a short on ES. And it was a |
| 527 | 01:32:28,530 --> 01:32:38,070 | fair pay gap down into a liquidity pool. And you saw me execute obviously. And then later in the day, so I gotta go to ES now for ESM 2023. |
| 528 | 01:32:52,470 --> 01:33:04,050 | Gotta find my areas, I gotta find my invitation. So the Hatton was set to only show on five minute chart. So I gave you the the fair rager on Wednesday to look |
| 529 | 01:33:04,050 --> 01:33:08,370 | at and then the 4127 liquidity |
| 530 | 01:33:16,140 --> 01:33:28,860 | I'm trying to find a way to say this certainly doesn't sound like a discouragement to you. So allow me a moment to kind of like put this in a way |
| 531 | 01:33:28,860 --> 01:33:51,240 | where it's not so pointed. I don't feel comfortable when you show me trades that you've taken on days that I have already warned you about in terms of the risk. |
| 532 | 01:33:55,650 --> 01:34:08,610 | When I don't like or heart, your tweet, I don't think that I didn't see it. I see every tweet, every single tweet that comes to me. Either I don't agree with |
| 533 | 01:34:09,210 --> 01:34:25,710 | or if I agree with or if I find it noteworthy whatever, or I share in that sympathy. I'll retweet it. I don't heart your trade results. Because I don't |
| 534 | 01:34:25,710 --> 01:34:35,610 | want to encourage you to do something in a time when I don't know where you are in your learning. Like I don't know how long you've been studying. I don't know |
| 535 | 01:34:35,640 --> 01:34:46,770 | if you've ever made money. I don't know. I don't know anything about every one of you. So when I'm wearing the hat of a mentor, and you're showing me your |
| 536 | 01:34:46,770 --> 01:34:59,040 | trades, whether they're profitable or wildly even profitable. For instance, I saw a few people say I just passed my funded challenge with that trade that I |
| 537 | 01:34:59,070 --> 01:35:13,380 | shared with The other day with a silver bullet trade. And I knew sending that out. Everybody that would ever take my trades did it that day. And I'm not |
| 538 | 01:35:13,380 --> 01:35:23,400 | trying to be an Oracle, okay, well, I can either become a Neo, or Morpheus. And a lot of you want me to evolve to the Oracle, okay? Where you just come to me |
| 539 | 01:35:23,400 --> 01:35:31,890 | and I'm going to tell you what's going to happen, okay? I don't want to be that. I'm not new. I'm not Morpheus, I'm IC fucking T. And I'm not trying to be |
| 540 | 01:35:31,890 --> 01:35:49,380 | anything apart from that. And I get anxiety when I see students taking risks in environments where I'm explained to you that it's elevated risk. And in other |
| 541 | 01:35:49,380 --> 01:35:57,750 | instances and other circumstances where we aren't in those types of climates, I will be high fiving. You saying? Yes, that's awesome. I'm proud of you. But I'm |
| 542 | 01:35:57,750 --> 01:36:11,580 | trying to be very cognizant to the influence I have as an educator, I don't want to influence you into thinking, good behavior, with limited understanding in and |
| 543 | 01:36:11,610 --> 01:36:20,880 | that means it's reckless then, okay, things that would otherwise be done in other market environments, with more insight, more experience, that's what |
| 544 | 01:36:20,880 --> 01:36:31,680 | you're aiming for. But when I tell you, we're in a high risk environment, we're in a different kind of climate right now. And you're new, and you do something |
| 545 | 01:36:31,680 --> 01:36:39,870 | and you get a result that's positive, or you make money or if your demo account does well, or if you get a funded account, or it makes a money transaction that |
| 546 | 01:36:39,870 --> 01:36:50,310 | allows you to get a payout based on that trade that I shared. Admittedly, I want you to understand how it makes me feel anyone else out there would be champion |
| 547 | 01:36:50,550 --> 01:36:58,530 | and walking around like a pony show saying, See what I did see what I didn't see what I did. I gave this guy this, I gave this gal that even just made that. I'm |
| 548 | 01:36:58,530 --> 01:37:10,320 | telling you as the human being me, okay. I get really uncomfortable with that. And as much as I want to share in your success, I do absolutely want to do that. |
| 549 | 01:37:11,970 --> 01:37:21,990 | It makes me want to withdraw and not do what I'm doing. By calling out moves like that. I don't want that. So if you want more of what I'm doing, when I do |
| 550 | 01:37:21,990 --> 01:37:32,490 | that stuff, please don't share your trade results by doing it. I've said this before, I'm asking you. Please don't I know it's exciting for you. And if you |
| 551 | 01:37:32,490 --> 01:37:42,960 | want to share it on your Twitter, don't include my handle. It's a simple thing is that simple. Don't don't tweet to me that you made this much money are needed |
| 552 | 01:37:42,960 --> 01:37:53,850 | that you did that, when I'm telling you that the market climate is high risk. I'm not looking for clout, I've already earned it. I don't want students being |
| 553 | 01:37:53,850 --> 01:38:03,120 | led astray, thinking they're ready to do things when they're really not. And there's been times even in my own early years, where I thought I knew something. |
| 554 | 01:38:03,990 --> 01:38:13,920 | And I later found out because of my infancy as a trader, not understanding the markets when I first started 99 It was a long time ago. And if you could see the |
| 555 | 01:38:13,950 --> 01:38:23,010 | journal entries that I had, that were just just terrible, beating up sessions of myself, you know, telling myself that, you know, I don't know, this, and I don't |
| 556 | 01:38:23,010 --> 01:38:32,670 | know, I shouldn't do this by now. It's literally months since I started in. And I had these hard opinions of myself thinking that I should have learned my |
| 557 | 01:38:32,670 --> 01:38:41,760 | lesson about this or that, when in reality, I had no exposure to what it is I suffered. That was the first time I encountered it. But I was being so hard on |
| 558 | 01:38:41,760 --> 01:38:52,020 | myself that I was in my own journal, beating myself up saying I should have known better when I had no understanding how to even identify that. So how could |
| 559 | 01:38:52,020 --> 01:39:05,850 | I? How could I have known better, right? So I'm prone to be my worst critic. I have trolls, everybody has trolls? Okay. None of these fuckers could ever say |
| 560 | 01:39:05,850 --> 01:39:14,790 | anything to me. Worse than my own opinion about what it is that I think I should have done or shouldn't have done, or how I could have done it differently. |
| 561 | 01:39:15,060 --> 01:39:23,910 | Because I have obsessively compulsive disorder I have, I have a way of seeing things. That is what normal people wouldn't pay too much attention to be like, |
| 562 | 01:39:23,910 --> 01:39:36,090 | Okay, I don't give a fuck it's it is what it is. I obsessively, compulsively look at things beyond the normal perspective of the average person. And I'm |
| 563 | 01:39:36,090 --> 01:39:45,450 | hyper critical of myself, which is what got me here. It was a weakness. It was an impediment in the beginning but I turned it around and said, Okay, I was |
| 564 | 01:39:45,450 --> 01:39:53,550 | given this for a reason. I believe there's a creator. And the world will tell you, you should be on medication and to be drugged. I fucking will not take no |
| 565 | 01:39:53,550 --> 01:40:04,380 | medicine. I'm bipolar. It's hard wrestling with that. It's very hard. It's hard as shit wrestling with that. But I used all these things that's labeled in our |
| 566 | 01:40:04,380 --> 01:40:15,930 | world as disabilities mental health issues. Something wrong with a person or whatever crazy insane unstable all that bullshit. And I said you know what, it's |
| 567 | 01:40:15,930 --> 01:40:27,480 | a fucking superpower because my give a fuck is beyond the normal my give a fuck level is super fucking human I want to know every fucking thing about these |
| 568 | 01:40:27,480 --> 01:40:34,890 | ticks these fluctuations in price action and I want to know everything there is to know about it. That's what made me inner circle trader that's what makes me |
| 569 | 01:40:34,890 --> 01:40:44,340 | who I am. Nobody gives a fuck about these candlesticks as much as I do. The time they make them. None of that stuff in the 90s I was doing shit with price data |
| 570 | 01:40:44,730 --> 01:40:54,900 | that nobody ever even considered before. Wasn't in books wasn't in anybody's bullshit. Okay, everybody was doing moving on average crossovers, and stochastic |
| 571 | 01:40:54,900 --> 01:41:09,600 | and RSI and CCI bucking, overbought, oversold. That's that's just the way it was. And intraday trading really hadn't kicked off, it was everybody was trading |
| 572 | 01:41:09,600 --> 01:41:20,460 | on daily charts. Because everybody was just associating what they learned from the retail educators at that time. And it was a slow transition into intraday |
| 573 | 01:41:20,460 --> 01:41:30,810 | trading. I was coming up during that when I was becoming a student of the markets in 1992. Really putting an effort into it, not when I was 15 years old |
| 574 | 01:41:30,810 --> 01:41:38,490 | by my uncle showing me charts, if I wanted to be real, and tell you when I really started looking at pricing like that it'd be when I was 15. I'm not being |
| 575 | 01:41:39,630 --> 01:41:47,940 | in my opinion, genuine enough to say okay, my concern because I didn't give a fuck at the time and 15 years old, I was worried about martial arts and girls. |
| 576 | 01:41:48,060 --> 01:41:58,890 | That's what I was worried about. So markets were completely alien to me, I didn't care. But when I started working a job and hated it wasn't making very |
| 577 | 01:41:58,890 --> 01:42:07,110 | much money. It fell into my lap again saying okay, well, there's probably a sign to this, you know, I turned my nose to Uncle talked about it. He made money with |
| 578 | 01:42:07,110 --> 01:42:20,850 | it. So, you know, apparently I must be meant to do this. So I reacted and started digging into it. 99 two, but it wasn't until November 5 in 1992, on a |
| 579 | 01:42:20,850 --> 01:42:29,280 | Thursday evening at 9pm. And my aunt and uncle's family room. That was the that was the moment that was the very birth of inner circle failure. That was the day |
| 580 | 01:42:29,280 --> 01:42:40,800 | I said, I am going to learn how to do this. I might not be a success in real estate, I might not be a success in sports. You know, I maybe never opened up a |
| 581 | 01:42:40,800 --> 01:42:47,160 | martial arts dojo, like I wanted to when I was a teenager. And there's a lot of things I thought I was going to do. And some of the things I tried to do and |
| 582 | 01:42:47,160 --> 01:42:58,380 | failed. And I just said, I'm not interested in these things anymore. This, this here, I never said I fucking give up. I had to quit and take breaks, because I |
| 583 | 01:42:58,380 --> 01:43:08,580 | just couldn't, I couldn't deal with the pressure I was placing on myself. And maybe that's what you do, too. But quitting is not a fucking option. You have |
| 584 | 01:43:08,610 --> 01:43:16,710 | already been infected with this. So you might as well just fucking roll your sleeves up and say, Okay. I know I want to do this. |
| 585 | 01:43:17,040 --> 01:43:23,010 | I know everybody else around me says it's bullshit. It's a pipe dream. And it's going to be so hard to learn how to do it. And guess what, everybody that's ever |
| 586 | 01:43:23,010 --> 01:43:30,150 | made money in this thought the same thing and their friends and family and influences around them weren't saying the same thing. What was different? They |
| 587 | 01:43:30,150 --> 01:43:38,850 | told him to fuck themselves. I'm not listening to you. You didn't do this and make money and or you didn't do this and fail and learn anything from it. You're |
| 588 | 01:43:38,850 --> 01:43:49,950 | just telling me from your fucking Carl perspective. Your nine to fiver. Okay, you're a 401 K. American dream, get into a fucking 30 year mortgage debt. Pay |
| 589 | 01:43:49,950 --> 01:43:59,520 | all this fucking interest and consider that success. I don't listen to people like that. I've never listened to motherfuckers that do that. If you're going to |
| 590 | 01:43:59,520 --> 01:44:09,600 | work, and you have a good job, you aren't a fucking mentor to me. If you have a good career, and you go to work for somebody else, you're not a fucking mentor |
| 591 | 01:44:09,600 --> 01:44:18,480 | to me. Because you're not going to teach me any fucking thing that I want to do. I never wanted to fucking work for these people that I worked for. I never |
| 592 | 01:44:18,480 --> 01:44:30,840 | wanted to work for them. I never wanted to do that. I wanted to go to school, get an education, computer science, information systems specializing. It'd be a |
| 593 | 01:44:30,840 --> 01:44:38,850 | systems analyst. And I wanted to get some experience at a firm and I was gonna branch off and have my own firm I was going to do that. That was what I was |
| 594 | 01:44:38,850 --> 01:44:50,580 | going to do. My my whole point of living this adult life was to be an entrepreneur, my own person, fuck working for somebody else. And this right |
| 595 | 01:44:50,610 --> 01:44:56,520 | here, my friends this right here this industry that you're listening to this goofball talk to you about right now that sounds like he's hopped up on |
| 596 | 01:44:56,730 --> 01:45:11,430 | goofballs. This is the last bastion of free enterprise. This is it folks. Look around, every fucking thing is changing. Everything is changing brick and mortar |
| 597 | 01:45:11,430 --> 01:45:21,330 | stores. Look around how many places in your neighborhood are closing up? How many commercial places in those strip malls in the commercial real estate areas, |
| 598 | 01:45:21,330 --> 01:45:32,580 | how many fucking businesses that you've seen, now nobody's in there is vacant. How fast is someone moving on in there, they're sitting there empty, empty. Look |
| 599 | 01:45:32,580 --> 01:45:42,270 | around, folks. Shit is changing. The way we do business, the way people are going to work, the way we have careers, that's all changing right in front of |
| 600 | 01:45:42,270 --> 01:45:50,730 | you right now. And I'm here to tell you that the shit you're learning ain't gonna change. It's either there is no markets, or everything I'm teaching, you |
| 601 | 01:45:50,760 --> 01:45:59,610 | will keep fucking working. So stop worrying about that. Use the time, pour into yourself investing yourself, the only thing you're doing is kicking the can down |
| 602 | 01:45:59,610 --> 01:46:07,260 | the road farther and farther by you not just tearing into this, and I'm going to do this, it's going to probably take more time than I want it to. But it's okay. |
| 603 | 01:46:07,470 --> 01:46:15,900 | Because I have set a resolve in my heart and my spirit and my mind. I'm not changing. I'm not deviating and a motherfucker out there gonna tell me that this |
| 604 | 01:46:15,900 --> 01:46:24,060 | ain't for me, because I know it is. The more somebody tells me it ain't for me, the more I'm in love with it, it just means that you can't fucking do it. And |
| 605 | 01:46:24,060 --> 01:46:32,250 | it's going to be even more better. Once I get there, and you get to witness it, and I don't have to rub your fucking nose into it. You're just going to see me |
| 606 | 01:46:32,250 --> 01:46:39,810 | live better by it. That's the best revenge. If the best revenge for your naysayers, the people that say you aren't going to be successful at this, don't |
| 607 | 01:46:39,810 --> 01:46:46,650 | bother, you're going to lose your money, you're going to do this, you're gonna waste all this fucking time. Laugh at these motherfuckers on your breath. Two |
| 608 | 01:46:46,650 --> 01:46:54,570 | years from now, shits going to be different for you. It's going to be totally different for you. Everybody else is gonna be struggling to find another way to |
| 609 | 01:46:54,570 --> 01:47:05,250 | make their fucking ends meet. You got this? You got this? Every fucking Monday to Friday, there's an opportunity for me. Just like there's a workday for |
| 610 | 01:47:05,250 --> 01:47:17,790 | everybody else. In a couple of days, everybody's going to talk and work on Monday. And they had a fucking work until Friday, just to get the same thing |
| 611 | 01:47:18,270 --> 01:47:30,360 | that they got the previous week. Time stolen. You prostituted your life for somebody else to say this is what you were worth to me. And what did you lose in |
| 612 | 01:47:30,360 --> 01:47:36,540 | the process? You didn't see your wife, you didn't see your husband, you didn't see your boyfriend, your girlfriend, your kids, your friends. You didn't have |
| 613 | 01:47:36,540 --> 01:47:48,240 | peace of mind or relaxation whatsoever. You're fucking stressed out, because you're in debt. And you have no way out. Folks, it isn't for everybody. But for |
| 614 | 01:47:48,240 --> 01:47:58,590 | everybody who wants to dig their heels until it is for you. It is for you. And don't let anybody tell you that you can't do this. You can. It's hard as fuck to |
| 615 | 01:47:58,590 --> 01:48:08,040 | get through what you do to yourself. When you stand in front of yourself. And you say what's the point of me doing this? Or I failed yesterday. I failed last |
| 616 | 01:48:08,040 --> 01:48:19,110 | week. So I just give up? Who's stopping you? The market didn't. Your friends aren't right. Your co workers aren't right car was not right about you failing |
| 617 | 01:48:19,110 --> 01:48:32,250 | in this module. Just warm up and tie yourself up to the company just like he is. Company Man, Carl. It's you. You have the control of sticking with this come |
| 618 | 01:48:32,250 --> 01:48:43,650 | hell or high water until you get it or stopping. There's nothing out there, folks. There's nothing out there that's going to be an impediment to us |
| 619 | 01:48:43,650 --> 01:48:54,150 | succeeding. But you it says time and effort. You have to make an effort, an honest effort. Not well. I took some notes and five people's is five pages of |
| 620 | 01:48:54,150 --> 01:49:03,330 | scribble bullshit in ICT is full of shit. Because here's my proof. Here's my notes. Get the fuck out of here. Get out of here. That's not That's not effort. |
| 621 | 01:49:04,380 --> 01:49:12,810 | That's bullshit. Getting in here showing up every day doing back testing, getting data collected. How many times has this form? How many times has it |
| 622 | 01:49:12,810 --> 01:49:19,470 | performed? How many times has it developed a setup at this specific time? How many times has that happened over the course of a week of a month in the course |
| 623 | 01:49:19,470 --> 01:49:31,230 | of a year with one asset. And realistically think to yourself, if you just got one of those opportunities over the course of the week, and you stopped you |
| 624 | 01:49:31,230 --> 01:49:39,990 | exercise, due diligence and discipline and said I don't need to do more. I don't have the experience that so if I can get this I'll stop and study the rest of |
| 625 | 01:49:39,990 --> 01:49:50,040 | the week. And go at it again the following week. That's a winning trader. That's a fucking market Maven. That's somebody that has absolute control over |
| 626 | 01:49:50,040 --> 01:49:58,350 | themselves when 99.9 Motherfucking percent of these fucking traders out there whether your profit or not, they don't really have control themselves. Even the |
| 627 | 01:49:58,350 --> 01:50:04,380 | people that make money if they were honest with you tell you, you have no idea how many times I've spoken took these trades this entire week, I did this and do |
| 628 | 01:50:04,380 --> 01:50:10,410 | this. You know, I mean, I mean a lot of money, but at the end of the week, here's what I did. But look at all this other bullshit I went through. They're |
| 629 | 01:50:10,410 --> 01:50:18,930 | never going to do that. They're never going to do that. And you know what's nice about me? I can only talk about what I talked about, right? You see the fucking |
| 630 | 01:50:18,930 --> 01:50:28,440 | shit on Twitter. That's it, you see it? That's the point I made reference to? Was there anything deleted? No. Does your chart show all the market turns at |
| 631 | 01:50:28,440 --> 01:50:37,800 | those price points in those times? Yep. Did it go Russell's gonna go? Yep. Can you trust the logic apps of fucking literally will repeat apps of fucking |
| 632 | 01:50:37,800 --> 01:50:55,920 | literally. So it's not a lack of evidence that this shit works or not? It works. What's lacking is how much? How much do you have in the tank to stick with it. |
| 633 | 01:50:57,180 --> 01:51:06,240 | And sometimes you need to fill back up. Need to fill your tank up with energy to give a fuck is probably really low on some of you if you've been losing or not |
| 634 | 01:51:06,240 --> 01:51:19,860 | feeling like you're learning, reminding you folks, this market right now. Over the last 30 years is the most challenging for me. There's so many things going |
| 635 | 01:51:19,860 --> 01:51:31,050 | on all around the world. That there's huge pockets of what would be normally filled with a lot of interest institutionally. You're not seeing that right now. |
| 636 | 01:51:31,500 --> 01:51:44,610 | What does that mean? In layman's terms? What I'm saying to you is because risks are so high World War Three bullshit to Taiwan invasion, US invasion and yes, we |
| 637 | 01:51:44,610 --> 01:51:53,520 | fucking are being invaded. All these fucking things are happening Central Bank, digital currencies, bank failures, okay, banks are gonna exist, okay. And then |
| 638 | 01:51:53,520 --> 01:52:00,510 | they just get mentoring, banks are gonna exist. They're creating a situation that scared the fucking shit out of everybody. And they're gonna say, if we |
| 639 | 01:52:00,510 --> 01:52:06,510 | don't have a central bank, digital currency, we're gonna fall victim to this that the other thing, they have to come up with another COVID They got to come |
| 640 | 01:52:06,510 --> 01:52:14,610 | up with another 911 They gotta come up with another Saddam Hussein, a fucking terrorist, ghost killer that's gonna get you you know, some way shape or form. |
| 641 | 01:52:14,670 --> 01:52:25,440 | They gotta scrap that to scare you. That's what's happening right now. And people are people. And large corporations have fund managers, which are people, |
| 642 | 01:52:25,620 --> 01:52:38,700 | and we're all seeing the same Mickey Mouse shit. Lot of risk. Does it make sense? For these institutional firms that take other people's money and place it |
| 643 | 01:52:38,700 --> 01:52:49,560 | in risk? Does it make sense for them to just go in there and did dogpile on any old thing right now? No. There's a lot of cash reserves on the sidelines right |
| 644 | 01:52:49,560 --> 01:52:56,760 | now. They're not comfortable with taking risks. They're telling clients, we got to sit still for a little bit, you know, just we're waiting for for new |
| 645 | 01:52:56,760 --> 01:53:08,400 | developments. That's what's going on, folks. That's why the markets stagnant. That's why the markets doing what it's doing. Big money ain't moving right now. |
| 646 | 01:53:08,760 --> 01:53:16,320 | But when big money starts coming into the marketplace, or coming out of it, then we have our dance, then it becomes easy trading again. |
| 647 | 01:53:16,830 --> 01:53:27,810 | But you me anybody else out there saying otherwise can't change that. So you have to exercise patience, just got to relax and settle down to sit still. This |
| 648 | 01:53:27,810 --> 01:53:35,100 | won't be the last time you have to do that in your career. There'll be other future things that cause reason for us to sit still and try not to be so |
| 649 | 01:53:36,180 --> 01:53:46,530 | aggressive. You gotta be a little bit more passive as a trader right now. Contrast what you saw me in the years before, where I can go into a marketplace |
| 650 | 01:53:46,530 --> 01:53:53,850 | and buy, sell, buy sell up, down, up, down all over the place, just about every single intraday swing. I mean, recording it don't executions, the whole |
| 651 | 01:53:53,850 --> 01:54:10,830 | business? Is that the climate we're in right now? No. Nope. So if I'm taking the time to tell you that don't be selected and you're hearing and think, well, |
| 652 | 01:54:11,400 --> 01:54:17,280 | that's just for him. Because this other guy who said this and this other guy out there saying that bullshit and he talking telling you what's going to happen |
| 653 | 01:54:17,280 --> 01:54:25,110 | before it happens to take. He's not telling you what's going to happen. Okay. He's cherry picking this that the other thing that makes sense after it's |
| 654 | 01:54:25,110 --> 01:54:33,840 | happened, I'm telling you before it happens, I'm showing you what to look at, where it's gonna form, how it's going to behave. And I want you to understand |
| 655 | 01:54:33,840 --> 01:54:43,320 | that that is important. When we come at this funk, I don't know when in the markets loosened up and we started having bigger price swings on a daily chart. |
| 656 | 01:54:44,520 --> 01:54:55,800 | We're still in a range folks on the daily chart. We're not We're not changing any major higher timeframe profiles. We're still consolidating. And that's |
| 657 | 01:54:55,800 --> 01:55:05,220 | boring. To many of you action hounds that you just want to get in there and get these big While price runs, they'll come up, you gotta wait. That's the that's |
| 658 | 01:55:05,220 --> 01:55:15,330 | the Infancy that factor of inexperienced that many of you young 20 year olds that think you know everything right now, even if you're making lots of money |
| 659 | 01:55:15,330 --> 01:55:26,310 | with myself or other people's stuff, you don't know shit. You've been around long enough. And if you were being honest, you could see that these markets are |
| 660 | 01:55:26,310 --> 01:55:40,560 | totally different than where they were five years ago. 10 years ago, 20 years ago, insurance fucked different from 2003, three years ago. But you're not used |
| 661 | 01:55:40,560 --> 01:55:51,000 | to these adjustments. Because many of you started when we had these really big fast runs, and volatility we off the charts. And everything has been geared. |
| 662 | 01:55:51,120 --> 01:55:58,470 | Okay, here's the here's the part nobody's talking about. Everything has been geared to high frequency trading right now, with the expectation, we have big |
| 663 | 01:55:58,470 --> 01:56:08,340 | ranges when we're not getting big ranges. So what is their model building sitting still, it's idle. So if large flows aren't coming in from an |
| 664 | 01:56:08,340 --> 01:56:14,670 | institutional stance, then we're not going to see large extrapolations in price delivery and big ranges on a daily chart. That's it, that's as simple as it |
| 665 | 01:56:14,670 --> 01:56:24,510 | that's market one on one. So there's no reason for you to get upset, there's no reason for you to push real hard, and take stupid fucking risk to try to get |
| 666 | 01:56:24,510 --> 01:56:33,240 | funded. To try to get a payout, you got to relax and settle down. Because if you can't wrestle that down, now, when you do have a lot of money, you're gonna lose |
| 667 | 01:56:33,240 --> 01:56:41,880 | it all. Because you won't recognize these climates, these things that are occurring right now, they will occur again, in your lifetime, there's gonna be |
| 668 | 01:56:41,880 --> 01:56:52,590 | times when the market is act stupid, it's being held in consolidation, and you want it to move, you want to leave that range, and you can't make it you cannot |
| 669 | 01:56:52,590 --> 01:57:07,110 | make that happen. So don't look at your trading as a way of satisfying that itch. You have to sit the fuck down, don't do anything, or be very selective in |
| 670 | 01:57:07,110 --> 01:57:22,140 | what you're doing. And I have tools for that. I'm teaching it to you. You see more evidence of it this week. 40 handles on the ES short. I don't remember how |
| 671 | 01:57:22,140 --> 01:57:34,290 | many hurdles ahead when you are recording to the execution show to see, I did another one on a small little scalp that I didn't share about with my son. But |
| 672 | 01:57:34,320 --> 01:57:47,010 | like, maybe I want to say about Hunter handles or so. And I'm telling you, you can do extremely well with just 25 handles for the week. You have to lower your |
| 673 | 01:57:47,010 --> 01:57:57,210 | expectation, slow down, make things nice and slow and boring, you'll learn better, you'll retain more information. And then when the markets loosen up and |
| 674 | 01:57:57,210 --> 01:58:05,520 | get faster, you won't need to change anything, you'll just do more of what you've already been doing. That's the only thing that changes. But everybody |
| 675 | 01:58:05,520 --> 01:58:17,130 | else will lose their fucking mind and get crazy and take stupid risks and over leverage because they want to catch the next big 500 handle run, or 500 Pip run |
| 676 | 01:58:17,130 --> 01:58:28,650 | because this that Nilla things occurring. That's what 30 years does for you. I didn't think this way, when I first started, I didn't think this way in my first |
| 677 | 01:58:28,650 --> 01:58:38,370 | six years. That's one of the defining hallmarks to why it took me six years to get to where I am. Because I didn't have a mature mindset about it. I just |
| 678 | 01:58:38,370 --> 01:58:45,840 | thought it was Go go go. button push button, push button push, I wasn't afraid of shit I would get in every moment. Or at one ways to get into a motorcycle |
| 679 | 01:58:45,840 --> 01:58:57,150 | market. And guess what entry models and entry techniques isn't there's not a deficit for me. I can find a way to get in, I will get in there. If it's a move, |
| 680 | 01:58:57,180 --> 01:59:08,520 | I have something that will get me in there. And there isn't a lot of moves forming right now. But the things that do form, you have a skill set that's |
| 681 | 01:59:08,520 --> 01:59:20,310 | being taught to you on a conceptual basis that allows you to engage it it might not be your model of choice. It's okay It's good for you to learn. And over time |
| 682 | 01:59:20,490 --> 01:59:29,070 | you will get this experience you will get this understanding about yourself and how to control yourself which is paramount. Not enough said about that in the |
| 683 | 01:59:29,070 --> 01:59:44,250 | market. Not enough said and taught by educators about that it's okay to not do something on why this this stigma has been placed on Oh, this person's weight |
| 684 | 01:59:44,250 --> 01:59:52,050 | and not taking this trade district and yet the fucking trade you're taking a high risk and just got lucky. I'm aware that I was doing a lot of that when I |
| 685 | 01:59:52,050 --> 02:00:02,460 | first started. It was painful to admit that to myself. Because then when I was 20 some years old I thought I knew everything And based on what I know now, |
| 686 | 02:00:03,960 --> 02:00:16,380 | night and day, like not even pre K level understanding compared to today. But at the time, Schick, I thought I knew everything. And that's what happens to you. |
| 687 | 02:00:16,770 --> 02:00:26,670 | And these other educators that are just now finding themselves. You have to listen to people has been around for a while. That's one of the that's one of |
| 688 | 02:00:26,670 --> 02:00:35,280 | the best things you can do best piece of advice. If someone's brand new, whether they make a lot of money or not, unless they have learned from someone that has |
| 689 | 02:00:35,280 --> 02:00:44,550 | done for a long time, and they stick to the rules of that long timer has put forth and it's tried and trued method. Chances are, you're probably learning |
| 690 | 02:00:44,550 --> 02:00:53,280 | from a one hit wonder. And I mean, with all due respect, I'm not trying to shit on anybody or saying you know, what you have done for yourself, or what you've |
| 691 | 02:00:53,280 --> 02:01:00,720 | done with your little communities or whatever, isn't really, I'm just being honest. Because there was a time in my life as a young man, I thought I had it |
| 692 | 02:01:00,720 --> 02:01:14,010 | all figured out. And I didn't. Not even close. I know when not to walk forward. I know when to take a step back. I know when to sit still. And 99% of the people |
| 693 | 02:01:14,010 --> 02:01:23,130 | out there to act as a trading guru educator. They don't they don't know that. There is no getting because they have to keep up with this level of expectation |
| 694 | 02:01:23,400 --> 02:01:35,490 | that they placed on their viewership. I don't, I don't have to give you a set up every single day. When I talk, it matters. When I'm pointing to something, it's |
| 695 | 02:01:35,490 --> 02:01:45,120 | significant and uncomfortable with being still. Even when you're all expecting me to do more. Are you comfortable? I guarantee you you're itching like What the |
| 696 | 02:01:45,120 --> 02:01:54,900 | hell's going on? Why is this? Why is this guy not talking? Why is he not tweeting some zone? Something this is something that this is for the funded |
| 697 | 02:01:54,900 --> 02:02:03,120 | account, guys. There's one company that does all these things to try to get me to trade in their shit. You're never going to see me trade any of your funded |
| 698 | 02:02:03,120 --> 02:02:12,240 | account bullshit, okay? Because you're not going to copy anything. I will never allow you to copy anything. Okay? If I want to give to a charity, I'll give to |
| 699 | 02:02:12,240 --> 02:02:20,790 | charity. I don't need you to do it. If you want to do a charity, give your own fucking money that you made from other people to a charity. There you go. Me |
| 700 | 02:02:20,790 --> 02:02:29,220 | making money with 200,000 on our account, and you give it away to charity where you get the benefit of tax write off, you get all the credit. But you copy my |
| 701 | 02:02:29,220 --> 02:02:37,680 | fucking trades to look at that. There's no There's no upside for that. Okay, people that learn from me, they know I can do this. They're doing it. I don't |
| 702 | 02:02:37,680 --> 02:02:44,250 | need to wreck your company for doing that. And you benefit it's all you benefiting for it. I'm not like I'm not stupid. Anybody has a brain can see this |
| 703 | 02:02:44,250 --> 02:02:46,170 | shit. So |
| 704 | 02:02:51,210 --> 02:02:57,990 | there was really no other place to play stuff. I was gonna do it in the beginning, but I almost forgot to mention it in here. So I'd like I said I'm not |
| 705 | 02:02:57,990 --> 02:03:05,580 | interested in your your, your your funded account bullshit. I'm trying to work with my son Cameron. So that way he can do it. You know, he's he's trying to |
| 706 | 02:03:05,580 --> 02:03:12,330 | wrestle with these demons. He's already created for himself, being a young man impatient, trying to treat it like a video game, which it's not he's found out |
| 707 | 02:03:12,330 --> 02:03:22,170 | it's not. And you wrestle with a lot of stuff that you bring to it. He's had success and other things that he's done. And he thought it was going to just |
| 708 | 02:03:22,170 --> 02:03:28,710 | translate into trading. He's going to find his own way and be able to say this that no one thing say No, I did it my way down. Just like Cody tried to do it. |
| 709 | 02:03:28,710 --> 02:03:39,090 | And Cody fucking failed. Trading crypto bullshit. Okay. Dad knows what the fuck is going on. But dad has kids. Okay, bye, guys. You know what you're doing as a |
| 710 | 02:03:39,090 --> 02:03:47,010 | fucking teenager? Young man, young woman. You know what it's like not listen to your parents. You didn't think they understood any fucking thing? Oh, these |
| 711 | 02:03:47,040 --> 02:03:57,030 | people they don't get it. These old fucking geezers. Believe me, he's eating crow right now he doesn't like it. But it's okay. It's good for him. It's good |
| 712 | 02:03:57,030 --> 02:04:04,440 | fucking medicine. It just means it's gonna be harder for him to learn to get through that stuff. Which is why I teach the way I do. You don't have to have |
| 713 | 02:04:04,440 --> 02:04:12,030 | that scar tissue. To learn this, you don't have to. But some of you just simply want to go around and share your scars and say this is what I had to put myself |
| 714 | 02:04:12,030 --> 02:04:18,510 | through. And I learned from this and that nothing like it's a badge of honor. Like I wish I didn't have all that stuff. I wish I could come and say I never |
| 715 | 02:04:18,510 --> 02:04:26,190 | did and shit. I learned the right way and it's kept myself from learning to do it correctly. Hold on one second. |
| 716 | 02:04:55,320 --> 02:05:05,910 | So, anyway, my wife just got back to the room. So she's got I'd be wanting to do something with me. So I'm going to close this one here. But I think I've covered |
| 717 | 02:05:05,910 --> 02:05:19,050 | enough today, give you a little bit of a woodshed moment, gave me some encouragement as well put your nose in the chart. So we had built yourself and |
| 718 | 02:05:19,050 --> 02:05:28,380 | reminded folks of what matters most. And what's the most difficult thing in this, it's you, the person that you are, that brings all of your character |
| 719 | 02:05:28,380 --> 02:05:40,140 | flaws, all of your strengths, they are going to be the weaknesses in your trading. And I didn't say that wrong, all of your strengths. The thing that you |
| 720 | 02:05:40,140 --> 02:05:51,180 | feel are the very strength that you are as an individual. That's the very thing that trading will whip your ass with. The thing that you think makes you the |
| 721 | 02:05:51,180 --> 02:06:05,040 | best thing and everything else is going to be the very unwilling that unfolds in trading. What does that mean? Confidence, my son came in confident. And now he's |
| 722 | 02:06:05,040 --> 02:06:14,730 | not confident at all. He thought he could do it because everything else he was good at. So he came in with overconfidence. Some of you come in here thinking, |
| 723 | 02:06:14,760 --> 02:06:22,170 | Oh, I'm I'm patient, I'm patient, and you discover you're not fucking patient at all, you're impatient. So when you find out whatever that character strength is |
| 724 | 02:06:22,170 --> 02:06:32,640 | for yourself. Coming into this, you want to be very, very careful what you recognizing yourself as what makes you strong, what makes it worse the good |
| 725 | 02:06:32,640 --> 02:06:43,200 | qualities that you have. And that's going to be the very thing that the market uses, psychologically, to undo you. And that's why you never see it coming. |
| 726 | 02:06:44,190 --> 02:06:54,840 | Nobody starts this and sees how they're going to end up failing. Because they focus on their strengths. And they don't identify their weaknesses. And take the |
| 727 | 02:06:54,840 --> 02:07:02,250 | time to fortify those weaknesses and build themselves up and identify that they do have weaknesses. The people that come in narcissistically thinking they have |
| 728 | 02:07:02,250 --> 02:07:16,200 | everything, gods, I'm a demigod. They're the worst, because they have so many character flaws, that they will wreck themselves constantly. And they'll only |
| 729 | 02:07:16,200 --> 02:07:26,100 | champion the very few times that they're consistently doing something right. And that's unfortunate, because that's something that needs a lot of work to fix and |
| 730 | 02:07:26,100 --> 02:07:36,150 | correct. And certain personalities aren't willing to do that they won't, they aren't willing to identify that they have weaknesses. And in trading, you have |
| 731 | 02:07:36,150 --> 02:07:45,570 | to identify what they are. Otherwise, if you don't, you'll ignore the weaknesses, and have too much confidence in what you believe is your strength. |
| 732 | 02:07:46,260 --> 02:07:54,870 | And those strengths will be your undoing. And you'll blow your account, you'll fail. And it will be demoralizing to you because what are you doing |
| 733 | 02:07:54,870 --> 02:08:02,640 | subconsciously, you're thinking that this was the best I had, I came in with these strengths. And I failed, I can't do it, I'm quitting. And you're just |
| 734 | 02:08:02,640 --> 02:08:09,750 | doing it wrong. That's all you're just doing it wrong, you need to change and recalibrate and approach it from a different angle. And give yourself a lot more |
| 735 | 02:08:09,750 --> 02:08:18,750 | time and flexibility and permission to not do it right in the beginning. That's what learning is like. But whenever you start adding money to it now becomes |
| 736 | 02:08:18,750 --> 02:08:26,640 | something totally different, isn't it? You have to be right, you have to be profitable. Otherwise, you're broke, or you're failing or you've lost your |
| 737 | 02:08:26,640 --> 02:08:37,560 | account. It changes the score keeping mechanism from just feeling like you enjoy doing this to are you making money or not making money. In the beginning, you |
| 738 | 02:08:37,560 --> 02:08:45,480 | can't think of it like that. You have to know who you are, discover how you're going to do yourself and wreck yourself and derail yourself. And it's always the |
| 739 | 02:08:45,480 --> 02:08:57,870 | person. It's not the method. It's not it's not the fucking method. It is the person because good money management can work with a shitty system proofer is |
| 740 | 02:08:57,870 --> 02:09:12,690 | flip a coin, flip a coin and risk very, very small amounts. Let runners run. You won't make millions of dollars with it. But it's better than you trying to do |
| 741 | 02:09:12,690 --> 02:09:23,880 | what you've done in the past. Because it's a rule based idea. And you're limiting bosses, which is the first rule and trading control capital. preserve |
| 742 | 02:09:24,030 --> 02:09:32,190 | capital. That's the rule number one. But when you're coming into this as a new trader, a new student, you're not thinking that you're thinking how much can I |
| 743 | 02:09:32,190 --> 02:09:45,540 | make? How fast can I make? You see there's there's the things you're coming into it with? How fast can I quit my job? Not how can I make sure I don't lose all my |
| 744 | 02:09:45,540 --> 02:09:53,940 | money? How can I make sure I preserve capital even knowing that I can take losing trades, I can still weather that and make more money. That's the |
| 745 | 02:09:53,940 --> 02:10:02,490 | difference. That's the difference between someone that has a realistic expectation to invest mixing and trading versus someone that just wants to get |
| 746 | 02:10:02,490 --> 02:10:14,310 | in here, like the crypto phase. Okay, so many people got into trading because of Bitcoin gone, you know, 60,000 70,000 They'd never want to touch any markets |
| 747 | 02:10:14,310 --> 02:10:24,270 | ever. Stock markets always been there. commodities have always been there, the crypto came out and everybody else was sitting on the sidelines thinking, man, |
| 748 | 02:10:24,540 --> 02:10:35,850 | everybody's getting rich with crypto, I'm gonna go in here and pour money into it at 60,000. If it drops a little bit averaging and hold on for dear life. And |
| 749 | 02:10:35,850 --> 02:10:43,650 | it keeps on dropping, keeps on dropping keeps on dropping, and now they're demoralized. And they're thinking, oh, you know, there's nobody makes money |
| 750 | 02:10:43,650 --> 02:10:52,980 | trading. They came in with their strength, their strength is they're going to do what everybody says is risky at the time when everybody had already done it. |
| 751 | 02:10:55,320 --> 02:11:08,010 | Everybody was chasing it in when the mania was high. So that's what everybody thought my long term says no, this, I said, we're done. We're done. And it |
| 752 | 02:11:08,010 --> 02:11:16,530 | dropped. It doesn't mean I'm a good trip for crypto trader, it just means that I understand market psychology, I understand how traders are victimized when |
| 753 | 02:11:16,530 --> 02:11:29,400 | they're in that loser cycle. And when mania comes, it's it. They're gonna put the brakes on it and start doing the other way. But those traders that came in |
| 754 | 02:11:29,400 --> 02:11:41,790 | when crypto was running hot, who was left after that? Nobody. You're talking about John Q Public, the people that would have never done anything other type |
| 755 | 02:11:41,790 --> 02:11:55,890 | of investing or trading. They finally took the leap of faith to get into that stuff. What are they feeling right now when it tanked? You think they may think |
| 756 | 02:11:55,890 --> 02:12:05,160 | they feel like they made a good investment, buying it at 60,000 plus 50,000. Plus, it went all the way down to wherever it went. I don't even know where it |
| 757 | 02:12:05,160 --> 02:12:13,530 | went. And I don't even know, I don't know where it's at right now, to be honest with you. I'm talking in obviously, you know, in previous conversations in the |
| 758 | 02:12:13,530 --> 02:12:25,740 | past, I mean could be wherever it is on a millennial. But that expectation that you hold over yourself coming in that you think that you're going to be good at |
| 759 | 02:12:25,740 --> 02:12:34,740 | trading because of this that the other thing, that's never going to be the strength. Like I thought my obsessive compulsiveness would be my own dealing, |
| 760 | 02:12:34,740 --> 02:12:43,320 | when in fact, that's the very thing that makes me ICT I would have not been able to stay with this number one, I would have not been able to identify certain |
| 761 | 02:12:43,320 --> 02:12:56,490 | things that draw attention on myself and all of a sudden found myself in the presence of people that you would never meet. And gifted with insight. And here |
| 762 | 02:12:56,490 --> 02:13:04,980 | it is, you know, I'm sharing it with you. And you're seeing the fruits of it with other people doing it all by their own steam. And I'm so proud of that. I'm |
| 763 | 02:13:04,980 --> 02:13:11,490 | proud of that. I'm proud to see students that stick with it. They didn't listen to the naysayers. They didn't listen to the people around them and said they |
| 764 | 02:13:11,490 --> 02:13:20,610 | couldn't do it. Their spouses, when they don't agree with it, that's hard. That's so hard. If you have a relationship with somebody that doesn't believe in |
| 765 | 02:13:20,610 --> 02:13:33,750 | you, or believe in what you're doing, you might as well never bring it up or talk about it. Because you're going to add more dimensions to the difficulty and |
| 766 | 02:13:33,750 --> 02:13:41,100 | impossibility of succeeding in this because you're torn between who you love. You don't want to stress them out that you don't want them to stress you out. |
| 767 | 02:13:41,100 --> 02:13:49,260 | And you want them to encourage you. But if they don't, if they don't believe in it, or subscribe to the same views you hold in, in this. You can't convince them |
| 768 | 02:13:49,260 --> 02:13:59,400 | of it. And what that does is it creates a an insatiable desire to prove that there's no reason for them not to trust you. So you take on what bigger risks, |
| 769 | 02:13:59,760 --> 02:14:09,420 | you trade more. You do reckless bullshit, to try that run up the account. Just anything. Don't think I'm talking talking to truth. Think about the lesson, you |
| 770 | 02:14:09,420 --> 02:14:21,120 | got an argument. You want to be able to show her you want to show him. So that way you can ease their minds and their doubts. And that way, maybe you can |
| 771 | 02:14:21,120 --> 02:14:31,920 | convince them into encouraging you. I got news for you. If they aren't encouraging you, then they're not going to encourage you later to stop looking |
| 772 | 02:14:31,920 --> 02:14:42,240 | for outward affirmance affirmance you can't you can't you can't base your success or willing to stick with this on the premise that other people support |
| 773 | 02:14:42,240 --> 02:14:50,100 | what you're doing. Nobody thought I was going to be able to figure this stuff out. No body, no body nobody |
| 774 | 02:14:52,650 --> 02:15:00,900 | in my uncle who introduced me to the idea, but when I was 15 years old, got pissed off when I started figuring the shit out. You would think Man, he'd be |
| 775 | 02:15:00,900 --> 02:15:08,490 | like, Wow, you're this is this is really great. Continue what you're doing. No, never fucking not one time did you do that not one fucking time he sat in my |
| 776 | 02:15:08,490 --> 02:15:17,160 | passenger seat of my fucking Corvette telling me in volunteer saying that. I don't understand why I couldn't get this, I did it before you and I'm jealous, |
| 777 | 02:15:17,340 --> 02:15:30,810 | his fucking words. And I'm like, What the hell, dude, really. That's what you see and all this stuff, you resent me. Because I'm able to do it because I put a |
| 778 | 02:15:30,810 --> 02:15:40,290 | lot of effort into it. I've studied and studied and studied. Now, to start looking at other people for validation, stop looking to other people to |
| 779 | 02:15:40,290 --> 02:15:49,680 | encourage you. If you need other people to encourage you, you are not fucking passionate about this, and you have to be in love with it. You have to love this |
| 780 | 02:15:49,680 --> 02:16:00,570 | shit, you have to live this shit. Because if you can't do that, you aren't going to make it because losing trades will come. drawdown periods will come times |
| 781 | 02:16:00,570 --> 02:16:08,430 | when the market gets tough, and you can't find your way in it, it's going to happen, that shits always going to be there. And if you can't find the |
| 782 | 02:16:08,430 --> 02:16:15,810 | encouragement in yourself, to stick to the rules, trust that the process will yield the results that you're looking for, not on a timetable you're looking |
| 783 | 02:16:15,810 --> 02:16:23,220 | for, and certainly not on a timetable that your fucking friends and family want you to have to justify their doubts, fuck their doubts, who gives a shit they |
| 784 | 02:16:23,220 --> 02:16:29,310 | don't like what you're doing, if they don't believe is going to they're not doing it. You are, you're putting the fucking work and effort into it. And when |
| 785 | 02:16:29,310 --> 02:16:37,710 | it comes time for you to pull out the fruits of what it is you're putting the heart effort into. And they're your spouse, they're your significant other, they |
| 786 | 02:16:37,710 --> 02:16:47,730 | get to share in, in that reward. Whether they changed their tune after that or not, because a fuck. That's not while you're doing it, you're doing it because |
| 787 | 02:16:47,790 --> 02:16:55,920 | you want to do this, you believe in it. I don't look at my wife who doesn't like the fact that I'm still talking to you right now. I'm guarantee you, she's now |
| 788 | 02:16:55,920 --> 02:17:02,490 | one on the balcony. That's her way of so that let me know, you talk too much today. But I gotta get this off my fucking chest. And I don't have to apologize. |
| 789 | 02:17:02,490 --> 02:17:08,970 | And I'll have to see your attitude for a couple minutes until we go somewhere and get something nice and neat and whatever. But that's the shit that goes on |
| 790 | 02:17:08,970 --> 02:17:23,190 | when you're in a relationship. Relationships complicate this is so hard to balance. Not only your fucking self in this, but if you have a spouse or |
| 791 | 02:17:23,190 --> 02:17:32,490 | significant other or if your partner is not on the same page with you with this shit. Don't talk about it. Find an avenue or an outlet. If you're having |
| 792 | 02:17:32,490 --> 02:17:42,360 | difficulty you want to talk in that regard, I think a community is warranted or it's beneficial like that guy. His Twitter handles ICT concepts, he, he's got a |
| 793 | 02:17:42,360 --> 02:17:52,920 | nice group of people, they all come together and usually come together after I do one of these Twitter spaces. And you know, kind of like provide a soundboard |
| 794 | 02:17:52,920 --> 02:18:00,870 | for everybody else that to take the opportunity say, What did you get from that discussion? And then what does that mean for you? And what does it How does it |
| 795 | 02:18:00,870 --> 02:18:08,940 | resonate with you? What did you get from that? Or how did it make you think about things that challenge you in any way, you know, and hearing other people's |
| 796 | 02:18:08,940 --> 02:18:17,040 | perspectives and what they go through. That's, that's great. I wish I was listening to it before I started listening to it. Because it's real people going |
| 797 | 02:18:17,040 --> 02:18:23,910 | through real shit. And sometimes it's not the good stuff, sometimes it's them going through hardships, and they just need to be encouraged. Because they're |
| 798 | 02:18:23,910 --> 02:18:31,920 | not getting the encouragement with the people that have around them, their loved ones, I'm doing the quotes in the air with my fingers right now. Remember, that |
| 799 | 02:18:31,920 --> 02:18:41,460 | should be a strength, right? Your loved one, your spouse should support you in this, they should be behind you 110% Honey, go get them Tiger. You're not going |
| 800 | 02:18:41,460 --> 02:18:52,080 | to get that shit. Not most of the time. If you have it, you are a unicorn and be appreciative of that. Be thankful, take the time out when I'm done with this and |
| 801 | 02:18:52,080 --> 02:18:58,290 | say, You know what? I wanted to let you know that I really appreciate you supporting me in this because it's very hard. And it's very hard for me to |
| 802 | 02:18:58,290 --> 02:19:05,520 | manage everything that needs to go along with finding success in this. And I can't imagine how hard it would be if you weren't behind me. You need to take |
| 803 | 02:19:05,520 --> 02:19:14,670 | the time and give that acknowledgement to that person. If it's happening, it's probably not. But if it is happening for you know, you're very lucky person. |
| 804 | 02:19:15,510 --> 02:19:23,490 | You're very blessed to have that. Because 90% of the time, you're gonna find that every one of us is coming through the same fucking shit the same way |
| 805 | 02:19:23,970 --> 02:19:31,680 | through the trenches out of the fucking gutters. Okay, we got to pull ourselves out of nobody supporting us. Nobody encouraging us no one saying keep going. I |
| 806 | 02:19:31,680 --> 02:19:43,170 | didn't have it. I did not have it. And it was many times I thought about saying fuck this. I can't I can't overcome myself. I keep fucking up this stuff. I'm |
| 807 | 02:19:43,170 --> 02:19:51,660 | getting in the way. I keep bringing this into the equation. I'm trying to prove myself to this girl to this woman, my ex wife, my new girlfriend, my future |
| 808 | 02:19:51,660 --> 02:20:04,230 | wife, my this my children, all that kind of shit. And that stuff. Everybody wrestles with it. Everybody wrestles with it. Mark Douglas doesn't talk about |
| 809 | 02:20:04,230 --> 02:20:15,270 | it. This is the real shit, the rubber meets the road stuff, brass tacks, and it's uncomfortable. But when you hear other people talk about it, it's therapy. |
| 810 | 02:20:16,230 --> 02:20:29,670 | Because it feels like you aren't broken. It feels like there's not a problem with you. It's you, being a human being, trying to do something extremely |
| 811 | 02:20:29,850 --> 02:20:40,050 | technical, extremely complicated. And you're trying to wrestle with human reasoning in something that has no human reasoning behind it. It's all |
| 812 | 02:20:40,050 --> 02:20:49,380 | algorithmic. And it's why you have to take the elements of humanism out of it. And think about how people can lose money, and how someone else can get their |
| 813 | 02:20:49,380 --> 02:20:57,690 | seat on the bus. Because that's what this is all about. That's all this business is, it's about taking from those who can have it taken from them, and then |
| 814 | 02:20:57,690 --> 02:21:05,700 | profiting from that. That's how this business works. That's how this industry runs. And there's no way around it. It's packaged and marketed in a way where |
| 815 | 02:21:05,700 --> 02:21:17,940 | the average person can invest and build a good future for themselves. And very few find that. Very few find it. So what's the repeating success story? The |
| 816 | 02:21:17,940 --> 02:21:28,140 | small leak, do all the good stuff, they make money, they live on high on the hog. And the average person finds failure, frustration, and they run away saying |
| 817 | 02:21:28,200 --> 02:21:34,830 | nobody can do it. And yet, there's new suckers that come into the industry all the time, every single day, there's new people coming out and finding a reason |
| 818 | 02:21:34,830 --> 02:21:45,480 | to get in here and speculate. And social media keeps that that rotating door turn. But if you're if you're stuck in that rotating revolving door, and you |
| 819 | 02:21:45,480 --> 02:21:53,340 | haven't found your place yet, hopefully this conversation kind of like sparks that you have to look internally. You can't look at your spouse, you can't look |
| 820 | 02:21:53,340 --> 02:22:02,190 | at your wife like I don't look at my wife to encourage me with this. I don't I don't I can't rely on that. She's not going to see it the way I see it. My |
| 821 | 02:22:02,190 --> 02:22:12,420 | children aren't going to see it the way I see it or want them to see it. It might parents understood. You know what it is? I do? They wouldn't they wouldn't |
| 822 | 02:22:12,420 --> 02:22:21,210 | understand it. They they don't they don't have a capacity to understand what we do. My mother had a sixth grade mentality. She She dropped out of school in |
| 823 | 02:22:21,210 --> 02:22:35,100 | sixth grade back in new mouse. Inner center stomach Tomic. Basically, she said, That's it. I'm not I'm not gonna finish school. My father is living out the rest |
| 824 | 02:22:35,100 --> 02:22:43,800 | of his existence in Jessup, Maryland, live in two, two consecutive life sentences plus 20 years and plus whatever time he's gotten for trying to escape |
| 825 | 02:22:43,800 --> 02:22:54,750 | from the mountain penitentiary in 1983 Are you for. They don't have the capacity to understand what we're doing, or what it is that I do and what I'm able to |
| 826 | 02:22:55,110 --> 02:23:09,120 | teach and share with you all. So I don't look out externally for other people to encourage me except for you, you, the student. And I tell you things like don't |
| 827 | 02:23:09,120 --> 02:23:18,600 | share your trade results with me because like, the movie Fight Club, the first rule of fight club, we don't talk about fight club. Because for me to feel |
| 828 | 02:23:18,600 --> 02:23:29,640 | confident that I can share with you that I can be open with you is that you're not going to give me things to overcomplicate my frame of mind when I'm sharing |
| 829 | 02:23:29,640 --> 02:23:37,440 | things. And I've seen what I see in the chart at the time I share them. I'm not thinking about Tom, Dick, and Harry, in this collection are community of people |
| 830 | 02:23:37,530 --> 02:23:47,790 | that's going to take the information and do something reckless with it. I'm thinking about the student that sees me as someone that's taking my time taking |
| 831 | 02:23:47,790 --> 02:23:57,690 | my energy and resources and making them available to you free of charge. Talking to you in a medium where I'm not monetizing shit. This is all free. I'm on |
| 832 | 02:23:57,690 --> 02:24:05,790 | vacation right now. And my wife's looking at me like what the fuck are you doing? She just said, I'm leaving. I want to see you succeed. |
| 833 | 02:24:11,670 --> 02:24:22,200 | And I don't want you to give me feedback that derails me as the mentor. You tell me, You made this and you made that. That makes me feel like I don't want to do |
| 834 | 02:24:22,200 --> 02:24:30,570 | it again. So if you want more of that, don't do that. I'm not looking for high fives. You shouldn't want my high five. You don't need it. If you've done |
| 835 | 02:24:30,570 --> 02:24:37,770 | something right. You don't need anybody else to tell you. You did it right. You don't need me to critique it. You don't need anybody else to critique it if it |
| 836 | 02:24:37,770 --> 02:24:49,320 | feels right. And you did everything based on the rules. That's all you need. You log it and you go forward. So that's gonna be it for this one. Hopefully you got |
| 837 | 02:24:49,320 --> 02:25:00,300 | something out of it. I went a bit longer than I said I was gonna go always works like that. So I will be with you on a tweet tomorrow. I'll be tweet Getting the |
| 838 | 02:25:00,540 --> 02:25:12,420 | person I believe should receive that 20 or 20k. Royal challenge. And if I'm not mistaken, I believe I had the highest views on that. I can't remember company |
| 839 | 02:25:12,420 --> 02:25:27,840 | and apologize. But my choice we made a 5pm tomorrow on on Twitter. I will tweet the company that sent out that I think it's the funded trader or something like |
| 840 | 02:25:28,020 --> 02:25:38,580 | the funded trader or funded through that company I have no affiliation with I'm not getting any kickbacks. I'm not in any partnership with them. But I will |
| 841 | 02:25:39,030 --> 02:25:50,910 | tweet their handle and the person I believe should be gifted that to RT K Royal challenge at 5pm Tomorrow, and so I'll talk to you next time. Be safe. |