029-ict-tw-spaces-20230624-How-To-Trade-Big-Runners-Properly
Last modified by Drunk Monkey on 2023-06-24 05:02
Outline
01:15 - How to trade the big runners properly.
- How to trade the big runners properly.
- Holding on for a grand slam home run.
03:59 - How do you overcome the fear of holding on?
- Holding on to a trade for a big runner.
- Graduating to another threshold of trading.
06:56 - How to turn failed traders into consistently profitable traders.
- Different thresholds for a full weekly range.
- The one shot, one kill approach.
- Graduating from five handles to 10 handles.
- The invisible barrier to success.
12:52 - The importance of knowing your limitations.
- Balancing act of growth and fear in the beginning.
- Live fun trading.
- Using a funded account as a rattlesnake analogy.
- The importance of desensitization.
16:20 - Knowing when to take trades.
- The first thing to know about intraday fluctuations.
- Understanding the higher timeframe draw.
- Lower fair value gap on es and nasdaq.
- Nasdaq is a laggard on the upside.
22:59 - Holding on to a trade when the market is a runner.
- Holding on to a trade if it becomes a runner.
- Taking partials.
- The importance of a higher-timeframe frame of reference.
- Trading charts and fibonacci extensions.
26:36 - How to take partials.
- Taking partials off at logical levels.
- The secret to holding big ass runners.
- The danger of jumping too quickly into the trading business.
- Trading with one contract.
- Taking a live account at TD Ameritrade.
- First year trading results like expectations.
33:32 - Don’t try to emulate anyone.
- Don't try to emulate anyone else.
- Ladies are better than men in trading.
- Trading with one contract, then two, then three contracts.
- Know where the higher liquidity is.
36:45 - What is the impact of the news?
- Big gap down opening range gap.
- Nasdaq continues to consolidate sideways back and forth.
- Fair value gaps on the daily chart.
- Time of day for the Nasdaq.
41:08 - The importance of intermarket relationships in your trading.
- The importance of having intermarket relationships in trading.
- The 2022 mentorship playlist.
- Every move in Nasdaq is exaggerated.
- How to manage and grow as a trader.
- Get your honey and get the fuck out of dodge.
- Stick to what you're doing.
50:09 - Don’t waste the opportunity of influence.
- You are now an influencer, so don't waste it.
- Don't waste the opportunity of influence.
- Making $25,000 a month with one contract at TD Ameritrade.
- The entitlement mindset.
53:28 - Mentorship and the mental drain.
- Mentors, teachers, salespeople and course sellers.
- The threshold as a trader.
- Worst-case scenario, it will come back and roll against you.
- Partials are huge benefit to developing students.
- The first threshold of profit profitability for a partial.
- The two stages of liquidity.
01:00:54 - The importance of understanding liquidity.
- Transformation from a couple years ago to now.
- Understanding liquidity is the secret sauce.
01:04:01 - The importance of making money in trading.
- Get the fuck out when it gets to 6000 hours.
- Vinnie and patrick.
- Larry williams, close the trade.
- Managing money, risk and expectations of the audience.
- 90% of people on youtube can't find their own way.
- Focus on what you're doing.
01:11:12 - You can beat the shit out of 100 handle runs.
- How to become a 100% handle trader.
- The importance of having a hard timeframe.
- How Patrick minimizes questions and concerns.
- How to get to the goal quickly.
01:14:39 - Paying attention to your videos.
- Watch your own videos and listen to your own breathing.
- Close the trade now.
- Measuring progress with a journal.
- Finding power in yourself, not others.
01:18:18 - Having a niche and a willingness to trade.
- Drama marketing only works for so long.
- The importance of having a niche.
- Being a hit and run type trader.
- Being comfortable in your own skin.
- Manage the risk, close the trade and profit.
- Keep the main focus in the spotlight.
01:26:05 - People watch youtubers in trading to learn.
- People watch youtubers in trading to watch them trade.
- No human person can answer 100 questions.
- Being an encouragement to everyone, even the people that don't like him.
- Being a fad.
01:29:44 - I don’t want to be at the top.
- Being uncomfortable being at the top all the time.
- Being practical and realistic.
- Finding the sweet spot in forex trading.
- Mastering the model and key points.
- The only time to take a partial.
- How to get past the growth.
01:36:17 - The importance of journaling as a trading tool.
- The importance of journaling as a coping mechanism.
- The biggest crutch as a trader.
- Take a step away from the market.
- Everyday trading is not a casino.
01:39:35 - The importance of sharing your knowledge and experience.
- Trust in yourself and who you are.
- Being an asshole in sock puppet account.
- Slow and methodical wins every time, like a partial profit.
- Mental baggage.
- Don't let the satan choke your roots.
- Don't be an arrogant prick.
01:47:03 - Once you get it, you’ll never go back.
- The novelty wears off when it wears off.
- Being free of all the bullshit.
01:50:03 - The importance of having a real funded account.
- You do dumb shit and racing to get to these big runners.
- Two things incorrectly.
- Nothing is guaranteed in a funded account.
- The importance of being profitable.
01:53:58 - The importance of taking the first trade.
- Risking less than 1% and making big money.
- Being comfortable in one's own skin.
- The first losing trade or getting it wrong the first time.
- Trading is a process.
01:59:25 - What’s preventing you from getting into the market?
- What is preventing you from getting to these big runners.
- Concern is like a doctor.
- Sugar coated self-love and verbal masturbation.
- Desensitizing yourself to the outcome.
02:02:45 - How to set realistic expectations.
- You can do more than what you think you can do.
- Toxic thinking.
- Changes in his body and ability to do things.
- Every man thinks every man thinks.
02:08:42 - Men always do this to themselves in trading.
- Men do this to themselves all the time.
- Young men are rushing to get money.
- Closing in a dog house and getting out.
- Wasting time and money.
02:11:58 - Everything about trading is between your ears.
- Trading is between the ears of the seven-pound universe.
- Money doesn't fix everything.
- Keep all the unknowns in the backseat.
- Trading is about how you are.
- Disorganized and impatient, not following a rule-based idea.
- Every session every day trading.
Transcript
| 1 | 00:01:15,930 --> 00:01:25,740 | ICT: Good evening, folks. It's been a little bit of time since less than we have on these. I was waiting to at least we had 1000 people and we had an audience. |
| 2 | 00:01:28,020 --> 00:01:37,080 | We don't usually do this on a Friday night. But tonight I have to, because tomorrow, I won't be able to do Saturday morning check on, like, wants to do |
| 3 | 00:01:37,080 --> 00:01:46,020 | something early on. So that prevents me from obviously doing the normal. So we're gonna spend a little bit time at probably about an hour long tonight. |
| 4 | 00:01:46,980 --> 00:02:01,440 | Definitely locked out in an hour. I have a movie date with my wife. So we will absolutely be done by nine. So I'll label this one and title it rather, how to |
| 5 | 00:02:02,040 --> 00:02:17,130 | trade the big runners properly. What does that mean? Well, would you ever been into a trade and maybe the the idea that you first used or implemented to get |
| 6 | 00:02:17,130 --> 00:02:27,270 | into the trade was something along the lines of, well, if I can get 15 pips or if I get 10 handle that in this run, that's what I'm aiming for. And something |
| 7 | 00:02:27,270 --> 00:02:38,670 | happens and it's almost like love at first sight. That that mark that you entered into it, you rub your hand just the right way, Florida that you and you |
| 8 | 00:02:38,670 --> 00:02:50,880 | now you're in love, and now you want to marry it, and you want to hold on to it for the entire daily range. Or beyond that, if it's early in the week, this is |
| 9 | 00:02:50,880 --> 00:03:04,350 | something that you now have fallen in love with, it's going to be a weekly hold. And then something happens where you have reached that initial objective that |
| 10 | 00:03:04,350 --> 00:03:20,160 | you set out for for the trade. It's it's gone to it, and now we're past it, or a new territory. And that question comes to mind. Am I doing the right thing? Am I |
| 11 | 00:03:20,160 --> 00:03:33,720 | doing the right thing holding on for this big grand slam home run? Did I make a mistake by not getting out? Should I get out? If I take the trade off here, it's |
| 12 | 00:03:33,720 --> 00:03:44,280 | gonna run and I'm gonna regret it. But what happens if I hold on to it? And it reverses and goes beyond where I was aiming for for my target and goes below |
| 13 | 00:03:44,280 --> 00:03:57,390 | that maybe even goes even further. And it scares me it gets me out of the trade. And you mismanage entirely. If you have ever traded with live money, you know |
| 14 | 00:03:57,390 --> 00:04:06,450 | exactly what I'm talking about. It happens all the time. No matter who you are, what style trader you are, whether you've traded with my concepts or somebody |
| 15 | 00:04:06,450 --> 00:04:17,640 | else's stuff, you will have this event take place in your market trading and the career path that you've chosen. It's it's something that's going to creep in. |
| 16 | 00:04:18,990 --> 00:04:37,410 | And what will happen is, sometimes you will hold on to a tiger, but let go of it. And then it'll run. It'll run to three 500 pips or handles? Not really. I |
| 17 | 00:04:37,410 --> 00:04:46,170 | mean, you wouldn't have held on to it for several days. But that's how you'll beat yourself up. And I had that trip I just got held on to it. And the question |
| 18 | 00:04:46,170 --> 00:05:00,150 | becomes, how do you as a trader, how do you overcome that and graduate from, say, a five handle trader or a 20 handle trader for NASDAQ, and it's For the |
| 19 | 00:05:00,150 --> 00:05:12,060 | folks that ask all the time, if you're trying to do five handles for EAS, you know, what should it be for NASDAQ 20. There's your multiplier, okay. But the |
| 20 | 00:05:12,060 --> 00:05:26,250 | idea of holding on to a trade for a big runner, number one, let's get one thing straight. That is not greed. That's graduation, you're graduating to another |
| 21 | 00:05:26,250 --> 00:05:40,920 | threshold of trading. When I teach you that five handle run to start with, all that is, is something very small, something obtainable, easily obtainable each |
| 22 | 00:05:40,920 --> 00:05:49,320 | day. Now, in the beginning, it's going to be next to impossible for you to feel confident or even know what it is you're looking for, to get those five handles. |
| 23 | 00:05:49,620 --> 00:06:02,460 | But after a while doing it over and over and over again, you're gonna get bored with it real quick. Now, trading by an envelope envelope statement that says, |
| 24 | 00:06:02,460 --> 00:06:14,190 | okay, all trading in successful consistently profitable trading should be born. Yes. But you should not be just doing five handle trades for in perpetuity, that |
| 25 | 00:06:14,220 --> 00:06:22,230 | you need to eventually grow beyond that. But what happens if you your personality, prevents that from happening, and you just never get beyond that. |
| 26 | 00:06:22,260 --> 00:06:29,940 | There's nothing wrong with that. As long as you're consistently profitable, and you're able to do that, you get your five handles, out the door, you go, go live |
| 27 | 00:06:29,940 --> 00:06:40,680 | your life for that day. But I'm talking to the folks that know that five handles is just that first rung on the ladder that you're going to climb over the long |
| 28 | 00:06:40,680 --> 00:06:51,570 | career. Oh, consistently profitable. That's the path you're going. That's that's what you're aiming for. So what it is that you're going to have to endure is |
| 29 | 00:06:51,570 --> 00:07:03,990 | figuring out where your target is, where's your comfort zone. All of you're going to have different thresholds. When I set out to be a traded at traded |
| 30 | 00:07:04,020 --> 00:07:17,490 | Forex, and try to treat the one shot one kill where I'm trying to get a lion's portion of the weekly range. I settled in with 50 to 75 pips. It was easy for me |
| 31 | 00:07:17,520 --> 00:07:28,920 | to get 50 to 75 pips every single week, outlining it, showcasing it, trading it executing it, everyone seeing it, now people out there doing it. But that's not |
| 32 | 00:07:28,920 --> 00:07:40,320 | the entirety of a full weekly range. Right, it became real easy for me to juggle and manage the mentorships that I was running, the video production, the |
| 33 | 00:07:40,320 --> 00:07:49,050 | editing, all those things. So your personal life, what you're trying to do all these things, your personal life and your family, your girlfriend, your |
| 34 | 00:07:49,050 --> 00:08:03,090 | boyfriend, your career at work until you can leave it, all those things plus sleep. They're all going to talk me play tug of war with you. And you have to be |
| 35 | 00:08:03,090 --> 00:08:17,490 | realistic. You just can't go for Babe Ruth swinging for the fences knock him out of the park. Not right away, you can't. But you can get there. And I see folks |
| 36 | 00:08:18,150 --> 00:08:31,530 | in my email box. Folks that send me messages on trading view. I see other youtubers talk about this topic. And I'll give you the recipe that I use and |
| 37 | 00:08:31,530 --> 00:08:41,190 | that I teach my students, okay, and it'll be up to you whether or not you find any value in it. But I have turned traders that were failed traders into |
| 38 | 00:08:41,400 --> 00:08:52,650 | consistently profitable traders. I've turned breakeven traders to consistently profitable traders I've taken small, little fragmented type of fluctuations for |
| 39 | 00:08:52,680 --> 00:09:05,790 | profitability in certain traders, and made them able to find big, grand slam home runs. Now, every single day is not a Grand Slam opportunity. But I'm going |
| 40 | 00:09:05,790 --> 00:09:20,220 | to I'm going to pose a question to you. What happens if you get say 40 to 60% of the daily range? Wouldn't that be considered a lion's portion of the daily |
| 41 | 00:09:20,220 --> 00:09:27,780 | range? I'm not saying you have to be perfect and get the highest highs and lows low, but anywhere between the the range of 40 to 60% of the daily range, |
| 42 | 00:09:27,780 --> 00:09:39,960 | whatever that market you're trading is. Would you be content with that? Some of you because you're probably new would think, no. I've seen what you've been able |
| 43 | 00:09:39,960 --> 00:09:51,960 | to do ICT I want to do that. Okay. That's a goal. But I'm talking about going out after you've reached five handles consistently. And then you graduate to |
| 44 | 00:09:51,960 --> 00:10:03,600 | doing 10 handles consistently. And then you worked in towards maybe doing NASDAQ and you can get your 20 and then 40 handles And that index, at some point, |
| 45 | 00:10:03,660 --> 00:10:12,600 | you're going to be bored by it. And you're going to want to spread your wings and grow. And that is something that you should not be fearful of. But too many |
| 46 | 00:10:12,600 --> 00:10:22,590 | times, individuals, traders, like you and I, we will go out there in the early stages, and we'll think that we can bite off more than we typically do in |
| 47 | 00:10:23,640 --> 00:10:33,930 | previous endeavors. I'm ready for at least get there and try to do 10 contracts. I mean, I've never done 10 contracts before in my funded account trading |
| 48 | 00:10:34,230 --> 00:10:42,270 | challenges, or I've never done these things before. Let's just do it today. This is take a leap of faith and do it. That's a mistake. |
| 49 | 00:10:45,059 --> 00:10:53,369 | You have to graduate into it slowly. And that invisible barrier, that traitors, and I promise, I'm going to give you some how tos in a minute. But I kind of |
| 50 | 00:10:53,369 --> 00:11:02,969 | like want to set the stage for this. Because if you've never been here before, you've never been trading with live funds before, never felt the tug of war of |
| 51 | 00:11:03,389 --> 00:11:12,149 | what happens if I'm wrong, this is really going to take money out of my account, am I gonna be asleep tonight, if you've ever had that exposure or experience |
| 52 | 00:11:12,149 --> 00:11:20,489 | doing it, this is gonna sound alien to you, you're not gonna, it's not going to have the same impact that it does for individuals that are listening, that |
| 53 | 00:11:20,489 --> 00:11:38,369 | absolutely have had real risks with real money. So there's this invisible barrier, okay? You never notice it. Until you get to that threshold, you're at |
| 54 | 00:11:38,369 --> 00:11:52,049 | that precipice. Where I want to hold for a little bit more, just a little bit more, I want to go for that 50 handle run, I want to go for that 100 Pit rally, |
| 55 | 00:11:52,709 --> 00:12:06,869 | I want to hold for that 200 point, rally or decline because some big event took place and you feel like it's going to rip. Any other time when you're trading |
| 56 | 00:12:06,869 --> 00:12:15,839 | your five handles getting out when you hit it, you're content with it. There isn't there isn't this invisible barrier out there. But then when you start |
| 57 | 00:12:16,049 --> 00:12:27,599 | wanting to do more, where you know, if you could be consistent with this just a few times a month, wow. What would that do for your trading, I mean, that would |
| 58 | 00:12:27,599 --> 00:12:37,679 | really set you apart. Like you'd be top tier, you'd be in this upper echelon of trading. And everybody would look up to you, and you'd feel good about yourself. |
| 59 | 00:12:37,769 --> 00:12:47,279 | And you would feel like this is really respectable results. Because you probably aren't really thinking that your five handles consistently every single day is |
| 60 | 00:12:47,279 --> 00:12:59,939 | respectable when it is it absolutely is. So it's a balancing act that has to be maintained in your growth. In the beginning, you're scared shitless you don't |
| 61 | 00:12:59,939 --> 00:13:06,719 | know what you're doing. You're afraid to take a trade, you're afraid to lose, you don't want to be wrong. So you're worrying about all the wrong things in the |
| 62 | 00:13:06,719 --> 00:13:16,319 | beginning. But once you work out all that stuff, by experience and conditioning yourself with back testing and doing demo trading, and you work your way into a |
| 63 | 00:13:16,319 --> 00:13:27,269 | very low threshold of real monetary risk, when you decide you decide to get into live fun trading, you start with a very small amount of leverage. And the |
| 64 | 00:13:27,269 --> 00:13:40,379 | graduation from that is going to be slow. Not fast, slow. And the reason why it must be slow, is because you don't know what it feels like to do it. For |
| 65 | 00:13:40,379 --> 00:13:53,489 | instance, can you do a full side split? Right now? At your age, whatever it is, at your level of athleticism, can you just drop right now go into a side split. |
| 66 | 00:13:54,929 --> 00:14:04,979 | I'll be 51 I can do that. I've been doing it since I was seven years old. Now, some of you might think well, what the hell does that got to do with trading? |
| 67 | 00:14:04,979 --> 00:14:16,169 | Michael, you have to know your limitations or you're not that flexible yet to be able to go out there and just simply reach into 1015 contracts and trading. Now |
| 68 | 00:14:16,169 --> 00:14:25,229 | I'm going to set the analogy for the sake of the rest of the discussion here because a lot of my students are trying to use the funded account route. They |
| 69 | 00:14:25,229 --> 00:14:33,029 | don't have a lot of money, and they want to go that route because that allows them to do that. And if they make a mistake, all they have to do is reset and |
| 70 | 00:14:33,029 --> 00:14:43,139 | it's cheap. Okay. I'm not here to say that's the best way of dealing or the right or wrong way of doing it. But I'm just going to speak in those terms. I |
| 71 | 00:14:43,139 --> 00:14:59,369 | watched my son and his attempts to do these things. And the account that he tried to use allowed him up to 15 contracts. And while that is theoretically |
| 72 | 00:14:59,759 --> 00:15:17,969 | over elbow to you, should you be doing it? No. Even if you're conditioned in trading for, I don't know 30% of daily range, you can get that four times out of |
| 73 | 00:15:17,969 --> 00:15:31,469 | a week. You shouldn't go to the upper echelon of leverage. Just because it's offered to you don't touch it. Think of that as like a rattlesnake. Now, you |
| 74 | 00:15:31,469 --> 00:15:41,939 | might be able to grab that rattlesnake before it by dress, you might be able to dodge its fangs and pin it down to the ground. Or it might bite your ass, and |
| 75 | 00:15:41,939 --> 00:15:57,149 | you'll regret reaching for it. So treat that maximum lot size or contract size as a rattlesnake. It's an enticement. But don't touch it. Your job is to over |
| 76 | 00:15:57,149 --> 00:16:11,009 | time, desensitize yourself, desensitize yourself from the fear of missing out. And the fear of failure, the failure of choosing the trade to be in that you're |
| 77 | 00:16:11,009 --> 00:16:21,059 | trying to hold on to for a longer run, I'm going to tell you the secret, what causes that and how you overcome it. There's a couple things you have to know |
| 78 | 00:16:21,059 --> 00:16:32,219 | about. But once you understand these things, you will know exactly when to take those types of trades, you will not fumble it, you won't. second guess it, |
| 79 | 00:16:32,219 --> 00:16:41,009 | you'll just you'll know, this is the thing that I should be doing. This is not the thing I should be doing. The first thing that you have to understand is that |
| 80 | 00:16:41,009 --> 00:16:53,849 | you have to have a higher timeframe drawn liquidity. That's the thing I'm teaching you in all the core the coursework or content that I put on my YouTube |
| 81 | 00:16:53,849 --> 00:17:05,639 | channel, and when I'm talking to you, in these Twitter spaces, I'm conditioning you to look at that higher timeframe draw. Because if you don't consider that, |
| 82 | 00:17:06,389 --> 00:17:19,949 | understand this, how are you ever going to trust these intraday fluctuations and think to yourself that I'm going to hold for 100 handle run? Can 100 handle run? |
| 83 | 00:17:22,559 --> 00:17:35,969 | be birthed manifests itself in a range that has already moved, say several 100 handles down and really close in terms of proximity to a higher timeframe drawl |
| 84 | 00:17:35,969 --> 00:17:49,319 | and liquidity than words, if we think that it's going to go to a specific price level, lower, and it's the last day of the week. Does it have the potential to |
| 85 | 00:17:49,319 --> 00:18:04,109 | move another hand 100 handles beyond that target. Mean? Sure it can. But if it's more likely that it's only going to go to where we set our attention to some |
| 86 | 00:18:04,109 --> 00:18:17,159 | fair value get some old low where liquidity is. Why would you own that particular day, that particular time of day, expect your trade to somehow rub |
| 87 | 00:18:17,159 --> 00:18:28,019 | you the right way. And now you think it's going to be a big runner. So there has to be some frame of reference, which is exactly why I take everybody to a weekly |
| 88 | 00:18:28,019 --> 00:18:38,279 | chart, that weekly candlestick, what's it likely to reach for? And if we don't know what it is, on the weekend before trading starts, we use Monday to |
| 89 | 00:18:38,279 --> 00:18:51,029 | ascertain what that information is. And you work throughout the entirety of the week to see where it is, is reaching for. Now, step one is you have to know what |
| 90 | 00:18:51,029 --> 00:18:59,729 | the higher timeframe draws. Where is it reaching for on a higher timeframe chart. It doesn't have to be the weekly chart, I just prefer to teach my |
| 91 | 00:18:59,729 --> 00:19:11,069 | students to focus there. But if it's not clear, then you must at least at the very minimum, have some idea on a daily chart. What is it reaching for? This |
| 92 | 00:19:11,069 --> 00:19:26,129 | morning, this is June 23 2023, in case you've signed on to another swimming as a YouTuber someone because I don't put these Twitter spaces anywhere on my YouTube |
| 93 | 00:19:26,129 --> 00:19:33,959 | channel. So a lot of students, they'll record them and put them on there are mediums for other people to listen to. And it's fine. I have no problem with |
| 94 | 00:19:33,959 --> 00:19:52,169 | that. Today, Friday, June 23 2023. In the morning session, I sent out a tweet showing you the daily charts for both ES and NASDAQ. And I'd said that I favored |
| 95 | 00:19:53,099 --> 00:20:12,059 | the lower fair value the ES at one above And then the lower one. Obviously, you know, we have been focusing on the NASDAQ as the upside leadership index. So if |
| 96 | 00:20:12,059 --> 00:20:22,919 | we're looking for shorts, which one would be more likely to deliver to its target? The NASDAQ for ES? |
| 97 | 00:20:25,020 --> 00:20:38,100 | Yes. Because it's not done what it has not provided a way of keeping up with NASDAQ on the upside. So it's been a laggard. So when it becomes time for a |
| 98 | 00:20:38,100 --> 00:20:48,000 | market to sell off, or look for, discount or raise when it's bearish, which market is going to be easier. So you're thinking already? Well, the one that's |
| 99 | 00:20:48,000 --> 00:20:57,540 | going up more, it has more room to come down. So therefore, that's the one that sell short now. That's the one who's going to be more reluctant to go down, |
| 100 | 00:20:58,050 --> 00:21:12,540 | because the relative strength leader on the upside. So we want to focus on the index or forex pair, that's the weaker one. So having a higher timeframe drawl. |
| 101 | 00:21:14,040 --> 00:21:25,080 | Let's that daily fair value gap on ES. If you look at your daily chart, mark that off in your daily chart, you'll see that we actually did go into that by |
| 102 | 00:21:25,080 --> 00:21:43,050 | one tick. But that's still going there. NASDAQ was unable to do that. There was a large opening range gap. Both ES and NASDAQ had that today. We were able to |
| 103 | 00:21:43,050 --> 00:21:52,740 | see it trade software and you watch me execute. I shared that today actually put a trade in both of ES and NASDAQ. And I showed you what I was looking at real |
| 104 | 00:21:52,740 --> 00:22:07,770 | time. And how I nixed cancel closed in profit the ES short because it wasn't showing the willingness to want to reach down like the NASDAQ did. So in the |
| 105 | 00:22:07,770 --> 00:22:20,070 | morning session, it offered opportunity to see expansion lower on NASDAQ, even though it failed to get into its daily fair value gap. So when you're looking |
| 106 | 00:22:20,070 --> 00:22:35,580 | for trades to hold on to, and you want to catch a runner, you have to know what you're trying to reach for. And also, you have to also know where is this market |
| 107 | 00:22:35,610 --> 00:22:47,490 | indicating that it's not willing to do so I showed you that today. I've never showed both markets, side by side real time showing the executions, managing the |
| 108 | 00:22:47,490 --> 00:22:57,990 | positions, and then closing it because of some reason that was showing me in the charts. The NASDAQ was willing to open up at better market structure, it rose |
| 109 | 00:22:57,990 --> 00:23:13,470 | respecting its premium arrays. And es was it was rangy, and it was wanting to come back too much on his retracements. So if it's becoming a less likely |
| 110 | 00:23:13,470 --> 00:23:21,600 | scenario, that the market you're in is going to be a runner, don't hold on to the trade just because you want it to become a runner, it's going to be telling |
| 111 | 00:23:21,600 --> 00:23:31,680 | you something all the time, it's either going to be a hold. Or it's probably time to take a large portion of the trade off in the partial and then still wait |
| 112 | 00:23:31,680 --> 00:23:41,790 | out if you don't feel confident even after that. Meaning yet to take a sizable amount of the trade off. So you want to hold on for the full position, a full |
| 113 | 00:23:41,790 --> 00:23:52,020 | pole, a full pause, entry, whatever that position side is, I'm sorry, sizes. And then you place your stop and then it goes to target you've predetermined and |
| 114 | 00:23:52,020 --> 00:24:01,890 | that's it. You've taken no partial that's called a full pole. I've seen many traders talk a good game. A lot of pseudo mentors out there. They'll say that |
| 115 | 00:24:01,890 --> 00:24:08,190 | bullshit. You know, it doesn't make any sense. Take partials, but you don't see them executing shit. You don't see them doing anything, but they a lot of |
| 116 | 00:24:08,190 --> 00:24:19,920 | chatter. I teach you how to take partials. Because you won't know how to do that initially, just like you won't know how to hold on to a trade for a large, big |
| 117 | 00:24:19,950 --> 00:24:30,660 | profitable runner. There has to be something desensitize yourself by trusting all the factors that you're doing for higher timeframe trading. If you're |
| 118 | 00:24:30,660 --> 00:24:40,980 | looking at a three minute, two minute, five minute one minute chart, and you're trying to come to the conclusion that you're going to hold for 100 handles, it's |
| 119 | 00:24:40,980 --> 00:24:52,650 | going to be very, very difficult to do that without a higher timeframe frame of reference. Like you have to know what it's potentially reaching for. Because if |
| 120 | 00:24:52,650 --> 00:25:01,920 | you don't have that frame of mind when you're in your trading charts, whether you've annotated them or not, you have to at least know what it's likely to do. |
| 121 | 00:25:02,490 --> 00:25:15,750 | You can't look at a pivot number, you can't look at a standard deviation. That comes from my work, you can't look at a Fibonacci extension. And think that |
| 122 | 00:25:15,750 --> 00:25:29,100 | that's all there is. Those things are small little cogs, small little components to the larger hole. And if you blend those types of things, with something |
| 123 | 00:25:29,100 --> 00:25:38,970 | that's on a higher timeframe, that would be used for the purpose of liquidity, or repricing to an inefficiency and price, fair value gap, something to that |
| 124 | 00:25:38,970 --> 00:25:58,860 | effect. And those pivots, Fibonacci extensions, those things start to converge around that idea, then you have a better well, narrative, to hold on to, there's |
| 125 | 00:25:58,860 --> 00:26:06,060 | got to be a storyline that you can trust. Because you just can't buy you can't go out there and buy a market think it's gonna go up 100 handles because you |
| 126 | 00:26:06,060 --> 00:26:18,510 | want it to, there may be something up there that you can make a case for. But is one thing that you're making the case around, that makes it feasible for you to |
| 127 | 00:26:18,720 --> 00:26:27,900 | trust that it might go 100 handles, because your subconscious was really talking to you if you're uncertain, you're probably really just saying, I really want |
| 128 | 00:26:27,900 --> 00:26:34,470 | this to be a big runner, because I want to be able to show the world I want to be able to show my spouse, I just want to look in the mirror and say I did it. |
| 129 | 00:26:36,420 --> 00:26:45,990 | And there isn't really enough evidence behind the idea that going that far. So and then in the beginning stages, you have to wrestle through I did that, when |
| 130 | 00:26:45,990 --> 00:26:54,660 | you see me out here, and I'm trading Hunter handles, at handles, 70 handles all these, you know, they're not huge runs. But they're not five and 20 handles |
| 131 | 00:26:54,660 --> 00:27:08,640 | either. The way I get to that point is what I'm showing you. I take partials off at logical levels. I don't need to take the partials off. But I do it so that |
| 132 | 00:27:08,640 --> 00:27:16,710 | way you see by example, I'm because everybody, you know, when they learn from someone, they talk like the person they learn from, they wear their clothes, the |
| 133 | 00:27:16,710 --> 00:27:25,980 | types of things that they do, they pattern them, they emulate them. Well, I know that as a mentor, and I have an influence over you as a student. So I'm teaching |
| 134 | 00:27:25,980 --> 00:27:36,180 | you by example. I teach by example with a demo. So that way, you're not embarrassed to do it. And also, I teach you to take partials, because until you |
| 135 | 00:27:36,180 --> 00:27:44,010 | see how it works. And then you weigh it against what you've been trying to do. And not being consistent with it, it's easier for you to say you know what I'm |
| 136 | 00:27:44,010 --> 00:27:53,070 | going to let go what I thought I should be doing. And I see him doing this, I'm going to try that. And when you take those partials off, which is the secret, |
| 137 | 00:27:53,430 --> 00:28:04,170 | that's the secret to holding big ass runners, you're not doing a full pole. Okay, nobody just walks out there and starts doing that. It takes time |
| 138 | 00:28:04,440 --> 00:28:15,210 | conditioning yourself. So if you know that that's where you want to go and your trading doesn't need every day, you're getting 100 handles, it doesn't mean that |
| 139 | 00:28:15,660 --> 00:28:27,300 | it just means that when the market is offering it to you on a silver platter, here's what it's likely to do. I'll get to those details in a second. You'll |
| 140 | 00:28:27,300 --> 00:28:37,320 | know when to capitalize on it. But the most important thing is know when not to do it. And as a new trader, you probably are new and you feel like I need to get |
| 141 | 00:28:37,320 --> 00:28:45,420 | out there and do this. And many of you probably forgot about the five handles, you haven't even become consistent with that part yet. And you just want to jump |
| 142 | 00:28:45,420 --> 00:28:54,570 | to the 30 handles and 50 handle runs 100 handles because you're here and other people are showing examples of their trades. And now you think well, you know, |
| 143 | 00:28:54,840 --> 00:29:04,440 | why waste my time with these five handles, and this is jump into the grand slam home runs. That's what every trader does when they come into this business. They |
| 144 | 00:29:04,440 --> 00:29:15,120 | jump too quickly and have no idea where they're gonna grab onto it. There's no, there's nobody out there. There's going to catch you. If you don't get a grip on |
| 145 | 00:29:15,120 --> 00:29:24,300 | what the thing you're jumping up to reach for. You're trying to skip rungs in the ladder. That's dangerous. It's very, very dangerous. And when you fall that |
| 146 | 00:29:24,300 --> 00:29:32,790 | those heights, many people don't want to get back on the ladder. And they're scared to go into going through the process of going through it again the right |
| 147 | 00:29:32,790 --> 00:29:47,250 | way. They're upset with themselves. Now they're scared. They have fear, that's mental scar tissue. You have to allow doing the right things to reward you. |
| 148 | 00:29:48,900 --> 00:29:59,580 | Going back to the analogy of say you're going to be doing the funded account challenge stuff. Okay, so that's the pathway you chose. Let's assume for a |
| 149 | 00:29:59,580 --> 00:30:11,370 | moment you Got $150,000 quote unquote, account from a funded account challenged company, whatever they are, whoever they are, and they allow you up to 15 |
| 150 | 00:30:11,370 --> 00:30:20,610 | contracts, you have to remember that they have a threshold that you're not supposed to lose this much before they stop you. Your goal should be, I'm never |
| 151 | 00:30:20,610 --> 00:30:22,050 | going to be stopped by them. |
| 152 | 00:30:23,339 --> 00:30:30,989 | Now, right away, somebody you're going to be pissing them on and saying, Well, I can't make any money then. Well, you can't make any money if you blow the |
| 153 | 00:30:30,989 --> 00:30:39,029 | account either. But you will be spending more money to restart it. So what is it you want to be billing? You want to be resetting and paying for that bullshit? |
| 154 | 00:30:39,869 --> 00:30:52,559 | Or do you want to do it properly? Trade with one fucking contract? One, just because they say you can do 15 Just because you see somebody else me anyone else |
| 155 | 00:30:52,559 --> 00:31:02,429 | out there trading with more than one contract? Does it mean that that's what you should be doing? Especially if you're new. I took a Live account over at TD |
| 156 | 00:31:02,429 --> 00:31:12,869 | Ameritrade, which is a shitty as fucking broker. They put $200,000. In my account, one day that I didn't learn. It's all recorded. I went day by day |
| 157 | 00:31:12,929 --> 00:31:24,689 | showing my account statements, day by day, the winners and the losers. It's on my YouTube channel, I think the playlist is first year trading results, like |
| 158 | 00:31:24,689 --> 00:31:42,539 | expectations have what you should expect. One contract made 100% in five weeks, took 25,000 to 50,000. With a lot of losing trades, and a lot of drawdown to be |
| 159 | 00:31:42,539 --> 00:31:55,619 | able to show traders in my private mentorship. How to get out of that. With one contract, take one contract and make $25,000 a month. Are you fucking making |
| 160 | 00:31:55,619 --> 00:32:04,469 | $25,000 right now? Your job? The Mickey Mouse shirt you're trying to deal with your trading now over leveraging and all the how many times have you tried to do |
| 161 | 00:32:04,469 --> 00:32:13,109 | the funded account? How many times have you passed? How many times have you passed it and fucking blown it? Once you get there, you're at the dance. But you |
| 162 | 00:32:13,109 --> 00:32:27,569 | left your dancing shoes. And you blow it because you're not ready. You are not ready. Just like this, this stage in your trading. You will be content in the |
| 163 | 00:32:27,569 --> 00:32:35,639 | beginning with five handles and handles 20 handles and consistent and then that wild hair gets up your ass like everybody has it happen. It happens to every one |
| 164 | 00:32:35,639 --> 00:32:48,059 | of us. And you want to be a big leaguer and you want to go for that big grand slam? Yes, you can do it. Yes, you can be a Babe Ruth. But you can't be a Babe |
| 165 | 00:32:48,059 --> 00:33:01,259 | Ruth every fucking day. You can't. It's it's Murphy's Law. You know, you're the human element that you're bringing into this, which is what everybody does. I as |
| 166 | 00:33:01,259 --> 00:33:15,299 | ICT. I do that too. Sometimes I get out sooner than I want. Sometimes I don't take enough off where I should have. It's just it happens. You overthink it, you |
| 167 | 00:33:15,299 --> 00:33:28,049 | try to finesse it, it is what it is. Rules are there to guide you. So the rules for you to be able to do this is start with one contract. When you get funded, I |
| 168 | 00:33:28,049 --> 00:33:38,729 | don't give a shit what company it is who's doing what I don't give a flying fuck. Who is doing what? Do not try to emulate anyone. And I'm at the top of the |
| 169 | 00:33:38,729 --> 00:33:50,489 | fucking list. Don't try to do that. Because you don't know where your sweet spot is. What does that mean? You see me doing what I do on pyramiding. I'll go in, |
| 170 | 00:33:50,489 --> 00:34:00,659 | I'll take six contracts as my first initial entry. And then my second partial peer meeting in a larger position will be three contracts. And then my third |
| 171 | 00:34:00,899 --> 00:34:10,439 | will be one contract. So what I'm doing is I'm scaling in but I'm really showing traders how to do three entries and not need to be the best one. There isn't |
| 172 | 00:34:10,439 --> 00:34:22,529 | this one entry. There's lots of entries. But I'm showing you how to scale in to a trade with 10 contracts. That's my comfort zone. Right now, based on the |
| 173 | 00:34:22,529 --> 00:34:31,739 | volatility in the marketplace and how it's been behaving. It's been higher than it it's been lower than it depending on how fast the markets moving doesn't mean |
| 174 | 00:34:31,739 --> 00:34:40,139 | that that's what you should be doing. Your comfort level might end up becoming just three contracts. And that's nothing to be concerned about or ashamed of. |
| 175 | 00:34:40,709 --> 00:34:48,119 | Don't think of it like it's a dick measuring contest Okay, that's why ladies are better than fucking men when it comes to trading because they're not out there |
| 176 | 00:34:48,119 --> 00:34:56,489 | trying to scale up and say look my Cox larger than yours on trading with 30 contracts bitch, what's up? That's not how it works. Because really, you can |
| 177 | 00:34:56,489 --> 00:35:08,429 | pull out that 30 handle, man sorry that 30 contract tray he'd, but the whole time, You're shitting bricks, they don't see you, they don't see your face, they |
| 178 | 00:35:08,429 --> 00:35:16,439 | don't see your your shit and your palms sweating the whole time, you're thinking, man, if this blows up, I'm gonna be so embarrassed, I'm never gonna |
| 179 | 00:35:16,439 --> 00:35:29,669 | share this result, this is a job, I really didn't trade that day. You don't know only what people show you. So don't try to emulate anybody. Start with one |
| 180 | 00:35:29,669 --> 00:35:40,799 | contract, and then work up to two, and then work up to three. And if you feel uncomfortable, go back down, not one down, go all the way back to one, and |
| 181 | 00:35:40,829 --> 00:35:49,979 | graduate back up again. And see if that same thing happens when you go back to the three contracts. When you want to start hitting these grand slam home runs, |
| 182 | 00:35:50,429 --> 00:36:02,099 | you don't go into it with one or two contracts, five contracts, eight contracts, 15 contracts. And then now I want to do 15 contracts, and try to catch a handle, |
| 183 | 00:36:02,549 --> 00:36:14,009 | I'm sorry, 100. Handles, that doesn't work. Because it's too big of a leap forward, you haven't conditioned yourself to find out even if that's a realistic |
| 184 | 00:36:14,009 --> 00:36:25,229 | leverage for you, you are the trader, you can't emulate and find comfort, pressing yourself into the mold and image of somebody else doing it. me or |
| 185 | 00:36:25,229 --> 00:36:34,559 | anyone else. So you have to number one know where the higher timeframe drawn liquidity is that means is that there is room for these big runs, it may not be |
| 186 | 00:36:34,559 --> 00:36:44,909 | 100 handles you're reaching for it may be 30, it may be 50. But those only exist in the realm of possibility based on what the market structure showing right |
| 187 | 00:36:44,909 --> 00:36:56,639 | now. And what is it done? Is there an impact news driver that's coming out? Or are they behind you, you're later in the week like today, we had a big gap down |
| 188 | 00:36:57,149 --> 00:37:11,309 | an opening range gap that was really, really low. And sometimes it's not reasonable to go short when it's like that. I went short today. And I was going |
| 189 | 00:37:11,309 --> 00:37:22,139 | for it. And I went into both of them, just to show you that you can read it real time. And if it doesn't go down here, I'll see it and you watched it happen. I |
| 190 | 00:37:22,139 --> 00:37:32,219 | took a partial almost that the low end of NASDAQ. And then I took 50% of the remaining portion off before came back and knocked my stop off. That was still |
| 191 | 00:37:32,219 --> 00:37:47,819 | in profit. That's like 70 Plus handles on that move. Is that a runner for you? I mean, I got it in there pretty high, at the opening range high and almost near |
| 192 | 00:37:47,819 --> 00:37:57,659 | the low of the morning. And then it creeped back up to about 50% of the opening range, gap or sorry, opening range gap. So you have to look at where we stopped |
| 193 | 00:37:57,659 --> 00:38:06,599 | trading yesterday. And where we started trading. Its you know, this morning at 930. And I'm sorry, where we start trading yesterday afternoon, and settlement. |
| 194 | 00:38:06,659 --> 00:38:16,709 | And then where we opened up at 930 today. So that's your opening range gap, measure that and put their 50% on that. And you'll see the both ES and NASDAQ |
| 195 | 00:38:16,919 --> 00:38:27,899 | went essentially back up to that level is a little bit more. But in the early sessions until we got into the lunch hour, it was consolidating sideways, back |
| 196 | 00:38:27,899 --> 00:38:34,769 | and forth, back and forth. I watched YouTubers I watch all the time. And you could just hear their voice, you could see the ones that show their face. Were |
| 197 | 00:38:34,769 --> 00:38:44,159 | very frustrating. And it's that's normal. But if it doesn't want to go down to those fair value gaps that we outlined on the daily chart that I showed this |
| 198 | 00:38:44,159 --> 00:38:54,989 | morning, tweet, then it will respect that opening range gap and try to work into it. But it's not likely to go that close to the daily fair value gaps. After |
| 199 | 00:38:54,989 --> 00:39:04,949 | being down so much from the injury we cry and not go all we appear to feel that opening range gap. That's not likely. So if it's not likely what is reasonable. |
| 200 | 00:39:04,979 --> 00:39:18,749 | Hey, if the gap NASDAQ and es went up throughout lunch? And what do I teach you about time of day because this is the other things that you have to factor in. |
| 201 | 00:39:19,199 --> 00:39:30,749 | When do these characteristics manifest in price because everything is buy time. And price, not price. And then hope it is the right time for to buy and sell |
| 202 | 00:39:30,749 --> 00:39:46,739 | now. We wait for a specific time of day. After lunch, we know that the algorithm starts its pm session at 130 New York local time. around 140 or so I can |
| 203 | 00:39:46,739 --> 00:39:59,969 | remember the minute marker but it's that 140 We had a high forum in both ES and NASDAQ. NASDAQ was unwilling to make that higher high when it was proximately |
| 204 | 00:39:59,999 --> 00:40:17,489 | 80% of the opening range gap. So there's this divergence there. What did I tell you I favored today? The daily chart fair value gap. That's the draw. So now |
| 205 | 00:40:17,519 --> 00:40:23,699 | think for a second, just think for a second. If you want the lion's portion of the move, |
| 206 | 00:40:25,020 --> 00:40:34,260 | that means that the market crept up. After failing to run into those fair pay gaps on the daily chart in the morning session, I was able to take a big chunk |
| 207 | 00:40:34,260 --> 00:40:48,420 | of that move out, then went up into the opening range gap, half of it and at 130. The pm session starts its rotation. The market starts reaching for what |
| 208 | 00:40:48,420 --> 00:41:04,770 | that higher timeframe drawl and liquidity he asked reaches down into it. What time did it get there? Three o'clock on the dot. NASDAQ didn't do it didn't |
| 209 | 00:41:04,770 --> 00:41:15,840 | trade the trade down as low as es did? Why? Because you have to have intermarket relationships in your trading. If you really want to be a grand slam home run |
| 210 | 00:41:15,840 --> 00:41:26,580 | trader, and you want to hold these big runners? You have to do the research and see which one? Are you in? Are you in the right one? Are you in the one that's |
| 211 | 00:41:26,580 --> 00:41:38,550 | likely to give you the downside? That's no more bearish, which one is more likely to go lower? The one that's failed to go higher when it's been going up. |
| 212 | 00:41:39,540 --> 00:41:50,940 | It's the laggard. And the one that's stronger, when it's been going up, when it's time to go down, it's going to be reluctant to go down. So if you're having |
| 213 | 00:41:50,940 --> 00:42:00,750 | a hard timeframe draw on liquidity. You're balancing out what is this markets doing at the time, and I showed this to you this morning by being in both of |
| 214 | 00:42:00,750 --> 00:42:13,050 | them at the same time short. And when there's warning signs, that is not cooperating with you and your trade idea, kill it. I'm not afraid of being |
| 215 | 00:42:13,050 --> 00:42:21,450 | wrong. What mentor out there able to do that show you execution and explain to you, this is what I was looking for. And it doesn't do exactly what I wanted to |
| 216 | 00:42:21,450 --> 00:42:30,390 | do. But guess what, I'm still able to show profitability. That's what you want to start with, you want to be able to do that. That's a stage in your |
| 217 | 00:42:30,390 --> 00:42:38,790 | development, that when you watch me or other people do these big runs, you think that it's something that you should be able to do right off the bat, right off |
| 218 | 00:42:38,790 --> 00:42:45,870 | the bat, just you watched a couple of videos, you listened to them Jawbone me or someone else, you join a subscription based idea. And you think you're just |
| 219 | 00:42:45,870 --> 00:42:54,990 | gonna walk out there and do it too. And it's hard. It's very, very hard to do that. Consistently. I've never met anybody. And I know a lot of people that are |
| 220 | 00:42:55,320 --> 00:43:01,230 | traders and have tried trading and have been trading longer than me, and none of these motherfuckers have ever done what you're thinking you're going to be able |
| 221 | 00:43:01,230 --> 00:43:11,610 | to do. And I've already said this, if anybody was able to be able to walk out there and do it, it would have been ICT. And I couldn't do that. It took time |
| 222 | 00:43:12,000 --> 00:43:20,910 | working through a lot of shit. Graduating through. Can I trade with two contracts? Can I trade with five contracts? Can I trade with 25 contracts? Can I |
| 223 | 00:43:20,910 --> 00:43:30,570 | trade with 50 contracts? Can I trade 100 contracts? All these things are thresholds that you have to grow into. You have no idea what it feels like to |
| 224 | 00:43:30,570 --> 00:43:48,960 | have $3,500 per handle movement. Yet for ticks 3500 hours can you just walk out there to market you mastered the 2022 mentorship playlist, because you could |
| 225 | 00:43:48,960 --> 00:43:59,640 | condense it into 15 Fucking videos come on. These are unrealistic things and you're trying to do unrealistic feats. And that's what makes what you think |
| 226 | 00:43:59,640 --> 00:44:07,590 | you're learning from me. It's complicated. Now, what you're trying to do with it is the complication. So these big runners, these big runs in the marketplace, |
| 227 | 00:44:08,430 --> 00:44:16,080 | they happen over time. So, you have to know higher timeframe draw on the Quiddity where is it likely to go? You have to have intermarket relationships |
| 228 | 00:44:16,110 --> 00:44:25,860 | understood if you're going to be an index trader, whether you trade the Dow, which I don't whether you trade es, or don't prefer to trade NASDAQ because it's |
| 229 | 00:44:25,860 --> 00:44:37,650 | faster because it's thinner. That's why every move in NASDAQ has much more exaggerated. And that wild ass movement is an enticement. But you might get into |
| 230 | 00:44:37,650 --> 00:44:49,140 | index trading because of what I've been teaching or someone else doing it. And you get into NASDAQ and that shifts things your ass that doesn't mean quit. Just |
| 231 | 00:44:49,140 --> 00:45:00,240 | means okay, go trade ES. You can make a fuckload of money trading ES. You don't need to be in NASDAQ. I just do it because there's pony boys out They're to |
| 232 | 00:45:00,240 --> 00:45:07,290 | think they understand that Martin could do this and do that. And I go out there and I grab by its throat and strangle in front of you, and you see it happening. |
| 233 | 00:45:07,830 --> 00:45:15,990 | You watch me execute it and manage it. But you also see me doing more than 20 handles, you also see me doing more than five handles. And I'm showing you how |
| 234 | 00:45:15,990 --> 00:45:28,650 | to manage and grow in that. I can go through and do full polls entered the high and get out the lows. I can do that. And I'm gonna fucking do it. But you are |
| 235 | 00:45:28,650 --> 00:45:38,340 | trying to learn. So how do you graduate through that? You go in and you look for where is it likely to go? And then where in the process of where it's likely to |
| 236 | 00:45:38,340 --> 00:45:49,290 | go? Where can I take partials off. So that way it rewards me and gives me more courage to hold on. Because if it returns against me, and goes for my stop loss |
| 237 | 00:45:49,290 --> 00:46:02,400 | that may have trailed off too quickly, too quick, too fast. At least I've been paid. And it's soothing to have that experience when you're developing all of my |
| 238 | 00:46:02,640 --> 00:46:10,410 | profitable consistently not even listening to me anymore, because they're doing their own thing. All of my students that have gotten to that point. They're not |
| 239 | 00:46:10,410 --> 00:46:19,710 | doing partials like they first started. Don't need to, they've found their model. They know what they're looking for, to know what their setups are looking |
| 240 | 00:46:19,710 --> 00:46:33,300 | for. And they're just managing it properly, and just letting it go. And they're not trading every day. And they're fucking killing it. Do you think trading is |
| 241 | 00:46:33,300 --> 00:46:44,340 | this. But for you, it might be something entirely something else. And that is perfect for you. You might want to hit these grand slam home runs. But you know |
| 242 | 00:46:44,340 --> 00:46:55,200 | what, you might find out that you are a perfect 30 handle, stop, get out the trade and be done. Look for your next setup. And that's where you are highly |
| 243 | 00:46:55,200 --> 00:47:05,670 | efficient as a trader, you're managing your money properly, you're managing your mental capital properly. And you're not marrying these ideas, you're not going |
| 244 | 00:47:05,670 --> 00:47:16,020 | to be enticed to try to do a little bit more. Because NASDAQ bat its eyes at you and sugar data set you you're not trying to take them home to mom, you're just |
| 245 | 00:47:16,020 --> 00:47:23,970 | trying to have fun with them a romp that's it, there's no shame in it, get your shit, get your honey and get the fuck out of dodge. That's all this is about. |
| 246 | 00:47:24,750 --> 00:47:33,060 | There's no shame in that. Okay, there's nothing anti Christian about going out here making a lot of fucking money trading, you're not stealing from people, the |
| 247 | 00:47:33,060 --> 00:47:39,540 | people you took it from, they knew exactly what was going on, everybody walks in with their hands out of their pockets, with money sticking out there. And |
| 248 | 00:47:39,540 --> 00:47:49,170 | everybody take it from me if you can't, that's that's what this business is about. But if you go out here, and you're looking around constantly trying to do |
| 249 | 00:47:49,170 --> 00:48:00,600 | something that you're not prepared for, you're going to fail. And that little tiny failure is going to have such a huge impact. And it's going to derail you. |
| 250 | 00:48:00,780 --> 00:48:08,580 | And you'll forget about how you can consistently find five handles, you're gonna forget that you can find three good trades out of the week and know when not to |
| 251 | 00:48:08,580 --> 00:48:18,930 | trade on the bad days. And that's good. You're gonna beat yourself up because you tried to do something, you're trying to make an Olympic feat at a something |
| 252 | 00:48:18,930 --> 00:48:28,650 | that you're not quite ready for, but doesn't mean you're not going to get there just means that you're trying to do too much too soon. And many times, I've seen |
| 253 | 00:48:28,650 --> 00:48:39,390 | people as YouTubers, because they have an audience, or because they have a bone to pick, they have some kind of superiority complex, okay, or ego issue or |
| 254 | 00:48:39,390 --> 00:48:51,360 | something to that effect. Where they don't like me sometimes stupid is that they go out and they try to do something. And they don't do it well, or they blow |
| 255 | 00:48:51,360 --> 00:49:00,630 | something that they had on their hands as a winner. Or they start their live stream supposedly up and they shit themselves on the live stream. That's, that's |
| 256 | 00:49:00,630 --> 00:49:12,000 | what goes on out there. And it's because they're trying to do more than what's necessary. You're in this business to make money. That's it. That's the only |
| 257 | 00:49:12,000 --> 00:49:20,610 | reason why you should be here. If you want to have a large audience that loves you and worship you and matches your YouTube, you know, let that be a secondary |
| 258 | 00:49:20,610 --> 00:49:29,760 | thing. Because I promise you, if you stick to the first rule of trying to make money, the first and only priority, everybody will fucking flock to you. If you |
| 259 | 00:49:29,760 --> 00:49:39,180 | can do it consistently, and you're not a dick about it, people will watch you. They will love you. They will absolutely watch what you're doing and have |
| 260 | 00:49:39,180 --> 00:49:49,620 | nothing bad to say. Stay in your lane. Don't talk shit about nobody else. Stick to what it is that you're doing. And I promise you, that is exactly what that's |
| 261 | 00:49:49,620 --> 00:49:56,790 | what people want. If they're there to watch somebody else trade. They want to see you trade. They want to see trade. They don't want to hear you talk about |
| 262 | 00:49:56,790 --> 00:50:07,140 | other people. Just do what it is that you're doing. because they liked that about you, they liked what you're doing. They want to emulate you, they want to |
| 263 | 00:50:07,440 --> 00:50:18,060 | do half as much as what you're doing. You're now an influencer. So don't waste that don't waste, the influence, the opportunity of influence and people with |
| 264 | 00:50:18,060 --> 00:50:19,020 | the right things. |
| 265 | 00:50:20,580 --> 00:50:31,320 | So you, you don't go in trying to trade with big positions to try to catch these long runners. You do it with small positions. And over time you graduate with |
| 266 | 00:50:31,320 --> 00:50:40,950 | one more contract, or one more locked. If it's Forex, and you condition yourself over time, how much time is it gonna be? I don't know. It depends on what you're |
| 267 | 00:50:40,950 --> 00:50:50,670 | trying to do. But I don't want you thinking that you need to have a timeline on it, or a deadline, I gotta be able to catch these 100 pips or 100 handle runs by |
| 268 | 00:50:50,700 --> 00:51:03,090 | the end of this month. Because if I don't do that, I'm a failure. That's not that's that reasonable. That you think about, that's not even practical. Every |
| 269 | 00:51:03,150 --> 00:51:14,130 | person that sets foot in this injury industry that that has made themselves something of a success. I promise you if they sat down with you, or if they |
| 270 | 00:51:14,130 --> 00:51:24,360 | talked openly, and was honest about what they didn't have, and how they got to where they were. The biggest growths in their understanding and their ability as |
| 271 | 00:51:24,360 --> 00:51:38,700 | a trader was when they slowed the fuck down and tried not to do what's beyond necessary. If you can make $25,000 a month with one contract, and that's exactly |
| 272 | 00:51:38,700 --> 00:51:47,760 | what I was doing at TD Ameritrade, I was literally talking to one of the young ladies in my mentorship, who was struggling. She said, look, I can get in here |
| 273 | 00:51:47,760 --> 00:51:57,960 | I'm using the concepts, I can make money. And then when I try to tray with more position, size, and losing, but I don't blow the account, I just go right back |
| 274 | 00:51:57,960 --> 00:52:07,800 | down to breakeven. And yes, I scale down, I start back at square one. And I go with one lot, because she's a, you know, a future trader going in at one |
| 275 | 00:52:07,800 --> 00:52:16,410 | contract, and I'm trying to build it up, I'm trying to build it up, I get it. And then I go right back down to breakeven. And then I rush it, and I go on and |
| 276 | 00:52:16,410 --> 00:52:24,300 | try to get back what I lost. And then I get into deep drawdown, and then I don't know what to do. So I purposely put that account in the drawdown. And I went |
| 277 | 00:52:24,300 --> 00:52:33,060 | through the process of going through the entirety of doing it with real money. Not because I was fucking obligated to any of you. But I want this young lady to |
| 278 | 00:52:33,060 --> 00:52:46,260 | do well. So she asked me sincerely. That was why I did it. It was just for her. But that one contract making $25,000 in one month, five weeks, but that was |
| 279 | 00:52:46,260 --> 00:52:54,510 | correcting drawdown it was put in place to show her day by day showing her look, this is what you do. This is what you don't do. This is what happens if you do |
| 280 | 00:52:54,510 --> 00:53:05,010 | this. She paid me so I was obligated to her. I'm not obligated any you motherfuckers. Okay, I don't mean that be disrespectful. But seriously, some of |
| 281 | 00:53:05,010 --> 00:53:15,990 | you act like you fucking own me. You don't own me. You don't look, you don't fucking own me. That's the dichotomy here, you have to understand that I do this |
| 282 | 00:53:15,990 --> 00:53:25,650 | because I love doing it. And I want to see you succeed. But entitlement mindset, whether you think you should be able to do this faster, and you guard learning |
| 283 | 00:53:25,650 --> 00:53:33,870 | to do it, or that I should do more than I'm already am. Come on. That's not realistic, either. And there's a lot of personalities that come into this |
| 284 | 00:53:33,870 --> 00:53:44,310 | industry. And as a mentor, believe me, anybody that's listening here, that's a mentor or teacher, Guru, a salesman or sell a course seller, I guarantee you, |
| 285 | 00:53:44,310 --> 00:53:57,180 | you have dozens of people that you wish never ever came into your fold ever knew your fucking name, because they're just a mental drain, you can't help them. Are |
| 286 | 00:53:57,180 --> 00:54:04,830 | you that way in your trading, because if you are, I promise you, you will never be able to hold on to these big runners, because you have a lot of mental |
| 287 | 00:54:04,830 --> 00:54:13,110 | baggage. So you have to make sure you clear all that stuff before you can try to do these types of things. If you're trying to measure up to somebody else, if |
| 288 | 00:54:13,110 --> 00:54:21,900 | you're trying to be better than the other person's service, if you're trying to create a product that's better than somebody else's, all those things are going |
| 289 | 00:54:21,900 --> 00:54:30,150 | to lead you to do things that you're really not equipped to do. And you really just want to be able to chance it to see if you could do it, and then sell the |
| 290 | 00:54:30,150 --> 00:54:40,500 | idea that you do it all the time. Because as soon as you start doing it once in a while, your audience is going to say you know what? Mind you doing it like you |
| 291 | 00:54:40,500 --> 00:54:49,800 | did before? Why don't you do this? Why don't you do that? That's the way social media is. You're never going to satisfy anyone. So you might as well fucking be |
| 292 | 00:54:49,800 --> 00:55:01,140 | satisfying yourself. What is the threshold? As you as a trader? Where are you going to be most efficient limitation about your time I'm doing it, how much |
| 293 | 00:55:01,140 --> 00:55:13,440 | time you got to put into the charts. Graduating into that, holding on to a long, you know, big runner, that big runner, you're yours, you're fucking years away |
| 294 | 00:55:13,440 --> 00:55:25,770 | from getting in with your full position and holding on for these big runners. I'm being honest with you, you are fucking years 1000 Fucking days minimum. If |
| 295 | 00:55:25,770 --> 00:55:36,120 | you started today, counting today, day one, you're at least 1000 days away, and I'm talking market days not weekends too. Before you get to that point, that |
| 296 | 00:55:36,120 --> 00:55:45,780 | doesn't mean you can't get in with one contract. And get out there next week and take 100 handles down. Yeah, sure, you can do that. That's reasonable. But when |
| 297 | 00:55:45,780 --> 00:55:53,070 | you start building up these larger positions, whether it be a funded account challenge, or whether it be now you're funded with a company, or you're trading |
| 298 | 00:55:53,070 --> 00:56:04,290 | with real money, those things are gonna be heavy weight factors on your psyche, because you're going to be constantly worrying about did I do this, right? I'm, |
| 299 | 00:56:04,320 --> 00:56:12,150 | you're gonna know that you did it too soon. Guaran damn tee that's going to happen, you're going to feel that you're going to feel it. And it's going to |
| 300 | 00:56:12,150 --> 00:56:22,830 | cloud your mind, you won't even be able to know when the markets telling you. I'm not going to do that. But you want it to be so badly delivered in your |
| 301 | 00:56:22,830 --> 00:56:31,470 | hands. You won't you won't see it, you will not see it. And you'll hold on to too long. And the worst case scenario, which is what you're trying to avoid, |
| 302 | 00:56:32,340 --> 00:56:40,260 | will actually happen. It will come back and roll against you. And that nice big handsome profits you had that was unrealized. And you knew you should have |
| 303 | 00:56:40,260 --> 00:56:47,130 | fucking got out, at least with a partial. You didn't do it. So now what are you doing? You're kicking yourself and asked about that |
| 304 | 00:56:52,560 --> 00:57:01,350 | you're not ready, it doesn't mean you're never gonna get there. It just means that you haven't de sensitize yourself. You work up into it slowly. Now partials |
| 305 | 00:57:02,550 --> 00:57:15,180 | and I'll say this in closing. partials are huge, huge benefit to number one developing students because it teaches proper money management, and proper trade |
| 306 | 00:57:15,180 --> 00:57:28,050 | management. And it helps you grow as a trader, it helps you understand risk, it helps you navigate order flow. It teaches you liquidity and how to implement it |
| 307 | 00:57:28,050 --> 00:57:38,100 | in your trades. But the thing is, there's no perfect, I don't have it, there's no perfect way of saying okay, this is how many contracts you should start with. |
| 308 | 00:57:38,640 --> 00:57:47,880 | And when you get to your first target. This is how many you take off as a first partial. This is how many contracts I have still had to trade students from 2016 |
| 309 | 00:57:49,020 --> 00:57:59,220 | that were paid membership students, they send me emails, and they'll say hi, ICT, thank you so much for everything you're doing. Bada bing, bada boom, I'm |
| 310 | 00:57:59,220 --> 00:58:06,990 | really having a hard time. Can you tell me this is the third time they sent this email over the number of years it's been like I somehow forgot, like, I can see |
| 311 | 00:58:06,990 --> 00:58:15,510 | their email thread. When they send me an email, it's right there. And they know who they are. And I'm not making funny, I'm not saying your names, don't be |
| 312 | 00:58:15,510 --> 00:58:26,130 | embarrassed. But there is no and I'm telling you openly, there is no recipe that's going to be appropriate for everyone. That's the part that you bring into |
| 313 | 00:58:26,130 --> 00:58:35,070 | it. That's your personality. So you start with one contract. That means when you get to a first threshold of profit, profitability for a partial, which if you |
| 314 | 00:58:35,070 --> 00:58:43,770 | had more than one contract, or won lotto one, if it's a Forex position, the way you condition yourself to grow as a trader, when he gets to that first |
| 315 | 00:58:43,770 --> 00:58:53,520 | threshold, you close the trade Wait a minute, your targets somewhere beyond that, you just told me to get out where the first partial was yet, if you have |
| 316 | 00:58:53,520 --> 00:59:02,550 | not found consistency yet, that's what I teach my students to do. And then you do that, each time using lower timeframe charts, because you're gonna get lots |
| 317 | 00:59:02,550 --> 00:59:09,150 | of setups that way, you can do it a lot over the course of one month. If you're trying to do those types of trades with a four hour chart, it's gonna take a |
| 318 | 00:59:09,150 --> 00:59:17,160 | long fucking time. And I ain't got that kind of patience, you might think I have the patience of a saint, but I don't. You don't either when you start messing |
| 319 | 00:59:17,160 --> 00:59:25,500 | around with it, so you graduate. And when you get to the point where you can hold on to that first idea with one contract to the first partial and then you |
| 320 | 00:59:25,500 --> 00:59:35,790 | can get two contracts or two lots as a forex trader, then you take one off at your first partial and then you reach for the next partial, then you close it |
| 321 | 00:59:35,790 --> 00:59:47,520 | there too and still not get to your target. What is it teaching you you don't have to be right. What is it teaching you to pay yourself? Was it teaching you |
| 322 | 00:59:48,090 --> 01:00:01,140 | hold it for two stages of liquidity? Now when you can trade three contracts, you take one off at one partial second off at the second part Short, and you roll |
| 323 | 01:00:01,140 --> 01:00:10,740 | your stop to a point at which you're comfortable if you get stopped out what is that it might be breakeven, others, it might be $200, it might be some specific |
| 324 | 01:00:10,740 --> 01:00:17,820 | dollar amount, whatever that is, whatever that minimum expectation that you if you get knocked out of the trade, you don't care, it's not going to hurt your |
| 325 | 01:00:17,820 --> 01:00:27,120 | feelings, you're not gonna beat yourself up about it. But can you understand how many people listen to me, all around the world, there's lots of you, you're all |
| 326 | 01:00:27,120 --> 01:00:35,490 | coming from different walks of life, different income, different careers. Some of you have very stressful lives, some of you just got out of fucking prison. |
| 327 | 01:00:36,090 --> 01:00:44,550 | You think about it, there's different walks of life all around in this community. And I don't have a specific recipe for telling you how much to take |
| 328 | 01:00:44,550 --> 01:00:53,190 | off in partials. But in the beginning, it is its start with one, when you get to your first target, where a partial would be you get out, and you keep doing |
| 329 | 01:00:53,190 --> 01:01:01,830 | that, and it feels good. Because then you get to see does it really go to my target. And then when you journal that it gives you experience. So now apply |
| 330 | 01:01:01,830 --> 01:01:14,790 | that to doing these big runners. That's all you're doing. But see, what you're trying to do is you're skipping over a lot of necessary well conditioning. And |
| 331 | 01:01:14,790 --> 01:01:22,290 | Patrick, you train with weights, can you add to and benchpress 500 Fucking pounds right now, I bet you're 10,000, I can't do it. And that's not that that's |
| 332 | 01:01:22,290 --> 01:01:32,850 | not to demean you is that's the equivalent of when I watch you, I'm seeing you grow. Like I'm literally seeing you transform from what you were a couple years |
| 333 | 01:01:32,850 --> 01:01:42,030 | ago. And I didn't watch you then. But I can see the videos and stuff you did back then you're totally different now. And I asked you to do a video and talk |
| 334 | 01:01:42,030 --> 01:01:54,360 | about what it is that you have done to change. And I this is what my observation is. And I don't mean anything to be ignorant, I'm just sharing something as an |
| 335 | 01:01:54,360 --> 01:02:03,450 | observation. And I'm quite certain a lot of your audience in my audience would agree. These are the characteristics that I see in your trading, I see that you |
| 336 | 01:02:03,450 --> 01:02:16,320 | number one, understand liquidity now that you didn't, when you were trading in 2021, and in begins at 2022, it wasn't there. Now, you focus on where the market |
| 337 | 01:02:16,320 --> 01:02:25,890 | can likely draw to that liquidity. That's the secret sauce, you have to have some kind of understanding about where the markets likely to go. Because I don't |
| 338 | 01:02:25,890 --> 01:02:34,560 | give a shit what you use. If you don't have that, right, you're not making money period in this story. So I've seen that transformation in your, your trading. |
| 339 | 01:02:35,400 --> 01:02:46,680 | Sometimes you second guess it and that's normal, because you're still finding yourself. But you have a very simplistic entry model. And that's proving |
| 340 | 01:02:46,680 --> 01:02:55,320 | something I've already taught many times before, the entry is the least important thing. Literally, it's the least important thing. But knowing what's |
| 341 | 01:02:55,320 --> 01:03:07,950 | likely to be seen as a target or a drop in liquidity where the market reaches for. That is where I think you're shining. Now. You weren't doing those things |
| 342 | 01:03:07,950 --> 01:03:17,370 | in the in the past, as far as I could tell, and I might be incorrect. And you're welcome to correct me. And then kind of public response or whatever. But I think |
| 343 | 01:03:18,510 --> 01:03:34,440 | the direction you're going in, if you just slow down in terms of how much you're trying to bite off, like you could be huge on YouTube, like huge, really big. |
| 344 | 01:03:36,750 --> 01:03:48,390 | Just slow down, what you're trying to accomplish in terms of, I gotta get to 100 point handle, runs, I gotta I gotta do that, I gotta do that. That's great as a |
| 345 | 01:03:48,390 --> 01:03:59,130 | goal, but graduate into it. Like literally graduate into it. When you have an $8,000 trade running. And you're admitting that you're struggling because you |
| 346 | 01:03:59,130 --> 01:04:09,510 | want to hold on to these big runs. When it gets 8000 hours, bro, get the fuck out. Do that every time it gets to 8000 hours. Well, if it goes to 6000 Get out. |
| 347 | 01:04:10,290 --> 01:04:18,120 | Believe me, your fucking audience is not going to say What a dumbass, he has made 6000 hours. That's never gonna happen. Just like nobody can complain about |
| 348 | 01:04:18,120 --> 01:04:27,120 | a partial not being profitable. But because you're in front of an audience, and you're trying to entertain also, you're losing sight of what the fuck you're |
| 349 | 01:04:27,120 --> 01:04:36,150 | doing this for is to make fucking money. And that's a reminder for all of you listening. If you're trading if you're pushing a button. The results should be |
| 350 | 01:04:36,990 --> 01:04:45,180 | you're making money. That's it. Not that I impress the people that watch me fuck everybody that watches me. Seriously. I don't give a fuck if you'd like me. |
| 351 | 01:04:45,270 --> 01:04:53,430 | Okay, if I'm pushing a button I'm taking on risk. The end of that trade. I better fucking make money. I don't care if you liked my post. I don't care if |
| 352 | 01:04:53,430 --> 01:05:02,400 | you liked my my management retreat. I don't give a shit. Because whether you like what I did or whether you didn't like it, if I Do something I didn't feel I |
| 353 | 01:05:02,400 --> 01:05:10,080 | should have done or didn't do something I should have done. I'm beating my ass up mentally over that you could never troll me any of you could never troll me |
| 354 | 01:05:10,080 --> 01:05:21,030 | as hard as I do myself, if I know I did something incorrectly. But when you open yourself up to signal services, standing in front of the world saying, Okay, I'm |
| 355 | 01:05:21,030 --> 01:05:32,790 | going to do this, I'm going to treat this country that seriously, you have now literally multiplied the difficulty into a realm that is absolutely fucking |
| 356 | 01:05:32,820 --> 01:05:45,840 | insane. Because you're literally inviting everybody else to openly critique you if you're watching and looking at it. And if your disposition is combative. |
| 357 | 01:05:48,210 --> 01:05:59,280 | That's me, Patrick. That's you, Vinnie. That's you. You're increasing the level of difficulty for you to focus on what it is you're really doing this for, which |
| 358 | 01:05:59,280 --> 01:06:11,670 | is make money. I've watched both of you literally get into fabulous fucking trades. Fabulous. And then later on, that wasn't enough. You weren't content |
| 359 | 01:06:11,670 --> 01:06:22,560 | with it. You went and did more. Or you had open profit, you had it right there. And you both have said, there's gonna be a little bit more soon as you fucking |
| 360 | 01:06:22,560 --> 01:06:31,380 | say that you did you feel that fucking impulse. I'm telling you, this is what I did to fix me. That King Kong limit, this is exactly what Larry Williams said, |
| 361 | 01:06:31,410 --> 01:06:39,270 | Oh, no, I'm probably gonna get a knock on my door. My wife's gonna be like, it's not a clap, motherfucker. It's not. I wait until that happens. I know, I'm |
| 362 | 01:06:39,270 --> 01:06:39,930 | pushing it. But |
| 363 | 01:06:41,790 --> 01:06:50,430 | Larry Williams said that, if you ever get this impulse, when you're in a trade, and you whip out the calculator, and you're like, I'm gonna figure out how many, |
| 364 | 01:06:50,880 --> 01:06:58,080 | if I do this, I hold on to it this much more. And if I hold on this, and then I don't take much off of the position, I hold on everything, I'm gonna be able to |
| 365 | 01:06:58,080 --> 01:07:09,840 | make this much money. As soon as you start changing your mind about what you think it's likely to do, or how far it's gonna go beyond what you thought. Or |
| 366 | 01:07:09,840 --> 01:07:22,980 | for me. If I feel any kind of vibration, because of experience, and you both have experience, you've been doing it longer than most of these people out here, |
| 367 | 01:07:23,220 --> 01:07:35,820 | you know, yourself. And because you both live stream, you've shown your tell, like you've shown it. And I don't know if you realize it or not. But as soon as |
| 368 | 01:07:35,820 --> 01:07:46,770 | you say it out your mouth. I don't know if I should. That's it. Close the fucking trade. You are managing your money, you're managing the risk, you're |
| 369 | 01:07:46,770 --> 01:07:57,690 | managing your trade, and guessing you're also dealing, you're managing the expectations of your audience properly. That means you are seeing something your |
| 370 | 01:07:57,690 --> 01:08:07,230 | audience is watching you. And then now what are you doing? You're taking the action on say, Okay, I am no longer able to focus on this, it doesn't mean you |
| 371 | 01:08:07,230 --> 01:08:15,960 | suck as a trader, it doesn't mean that your concepts below, it just means that you as the operator working in that market environment in front of fucking an |
| 372 | 01:08:15,960 --> 01:08:24,510 | audience that's live and watching you critiquing you. You now have to pull the plug on the trade. And guess what you're doing, you're pulling the fucking trade |
| 373 | 01:08:24,660 --> 01:08:33,540 | at the height of the profitability while you're in the trade I used to aren't the only one. I've seen other YouTubers doing this shit. They don't even trade |
| 374 | 01:08:33,630 --> 01:08:44,160 | like me. They don't trade like neither one of us. But they have these positions on. And as soon as you see them or hear them question whether or not they should |
| 375 | 01:08:44,160 --> 01:08:53,190 | hold them to trade. As soon as you start thinking. I hope soon as you say hope it's it, the fucking trades done, close it. And if it runs to your target, who |
| 376 | 01:08:53,190 --> 01:09:03,030 | gives a fuck you closed that whatever you closed that 90% of everybody else out there on YouTube are fucking doing their own acids in they can't find their own |
| 377 | 01:09:03,030 --> 01:09:13,920 | fucking way. So because you want to be out there and from the audience doing that. I'm telling you, somebody that's been doing it longer than both of you. |
| 378 | 01:09:13,920 --> 01:09:25,020 | Motherfuckers I'm telling you, you both could be absolutely fucking phenomenal. But you are bringing in all the wrong things, whether it be an ego, whether it |
| 379 | 01:09:25,020 --> 01:09:32,790 | be competition, thinking, you know, you want to expose me as a fraud, or you want to prove that I don't trade with real money or this that I don't think I |
| 380 | 01:09:32,790 --> 01:09:40,320 | got more people following me and I won't demonstrate it doesn't make any sense. All that secondary bullshit, bro. Like you, you have an audience both of you |
| 381 | 01:09:40,320 --> 01:09:52,380 | have an audience. You both can do so much better. If you just focus on what the fuck you're doing. And when you get these little vibrations that tell you you |
| 382 | 01:09:52,380 --> 01:10:01,470 | know what's probably turning, close it. I've been doing it longer and I would not look at that as weakness. But you probably think it's we weakness, I got |
| 383 | 01:10:01,470 --> 01:10:09,780 | another trade I bailed, who the fuck is going to sit around and say you're, you're in 1000s of dollars in profit and you collapsed at the height of the |
| 384 | 01:10:09,780 --> 01:10:19,110 | trade right then and there, it went further. But that's a failure, nobody would say that. There ain't nobody out here that has common sense is gonna look at |
| 385 | 01:10:19,110 --> 01:10:29,610 | someone in a position start to finish. And they have 1000s of dollars in equity, and they close the trade. No one is ever going to say that's a fuckup no one's |
| 386 | 01:10:29,610 --> 01:10:39,930 | ever gonna say that's a failure, no one is ever going to say you did that wrong. And if they did, they're full of shit. But because you're trying to make these |
| 387 | 01:10:39,930 --> 01:10:51,330 | monumental and Olympic sized speeds, the real sole reason what you're doing it for, you've made this something other than trading. You've made it a an action |
| 388 | 01:10:51,330 --> 01:11:02,790 | movie, you made it, uh, I don't know, you've lost the plot. And so many of my students and everybody else I say to teachers, I'm sure you have students too, |
| 389 | 01:11:03,060 --> 01:11:13,770 | they've done this shit, they lose the plot, you're in this to make money, you grow from a starting point, it's rather modest. And you gradually over time, |
| 390 | 01:11:14,220 --> 01:11:23,520 | adding a little bit more and a little bit more. And you may discover that you won't become 100 handle trader. But you can beat the fuck and socks off of 30 |
| 391 | 01:11:23,520 --> 01:11:36,480 | and 40 handle runs. And you can find them all week long, up down sideways everywhere. But 101 might not be your thing. It doesn't mean you shouldn't try |
| 392 | 01:11:36,480 --> 01:11:45,450 | to reach for it. But you can't do it with a one minute chart or a three minute chart, you have to have a hard timeframe perspective, you have to have something |
| 393 | 01:11:45,450 --> 01:11:55,890 | beyond the interface. Well lay the lamb has to be larger than what you're looking at when it's a small little tiny interval. If you don't have that frame, |
| 394 | 01:11:55,890 --> 01:12:06,750 | and I've talked about this actually in whatever the last livestream, I did a catering call it taught me what it was. But I showed how I was trading something |
| 395 | 01:12:07,800 --> 01:12:17,340 | using the run on the lunchtime liquidity and then running up into the high of the day and then pyramiding it all the way through that. But also showing you |
| 396 | 01:12:17,340 --> 01:12:27,210 | that there was reference points from higher timeframe charts that you otherwise would not have seen in the recorded execution, which is again, I like to have my |
| 397 | 01:12:27,210 --> 01:12:34,620 | charts naked. I don't want anything on it. But I have to remember to consciously tell myself when I'm doing these things. Make sure I annotate this because I'm |
| 398 | 01:12:34,620 --> 01:12:43,500 | gonna prevent 1000 Different tweet questions or emails or people to noon, not tweeting, I don't know if you would call a message me from trading view. You did |
| 399 | 01:12:43,500 --> 01:12:51,600 | this and I can't answer all your emails, I can't answer all your tweets, I can't answer all your, your your notifications on trading view, there's too many of |
| 400 | 01:12:51,600 --> 01:13:01,590 | you. And that's the reality. It's not because I think I'm something that's too snooty. I can't do it. It's just too many of you doing it. So I tried to do |
| 401 | 01:13:01,590 --> 01:13:10,500 | everything I do to try to minimize what it is that is likely to come up as a question or concern. So I'll annotate the the most salient things. So that way, |
| 402 | 01:13:10,950 --> 01:13:19,500 | most of my students have been with me for a while, a lot of them will come in and field you the questions that come to me if it's on Twitter, and if I like |
| 403 | 01:13:19,500 --> 01:13:25,860 | your response, and if I'm an agreement, I'll read, I'll reply with like a heart or something like that. So it's kind of like me co signing your understanding |
| 404 | 01:13:26,130 --> 01:13:32,670 | and telling the person that we had that question. You told them correctly. And I mean, I didn't need to type that it's easier for me to just hit that little |
| 405 | 01:13:32,670 --> 01:13:41,760 | heart. And there it is, you've done me a favor and the person asking the question, but when you're getting these big runners, you didn't step into that |
| 406 | 01:13:41,760 --> 01:13:55,320 | overnight. You have to gradually over time you have to graduate, working slowly towards that goal. And, again, it may take you a lot longer to get to that. But |
| 407 | 01:13:55,320 --> 01:14:03,570 | you know how to get there. The shortest time is when you're stretching the boundaries of your comfort zone. Just like lifting weights, Patrick, just like |
| 408 | 01:14:03,570 --> 01:14:14,370 | lifting weights. You can't go out there and benchpress 500 pounds right now. But years from now, you could I fucking wouldn't try to do that. There's no way I |
| 409 | 01:14:14,370 --> 01:14:24,240 | would say too much. But everybody knows what their limitations are. And you have to stretch that boundary as soon as you get into these trades. And we have all |
| 410 | 01:14:24,240 --> 01:14:37,620 | seen you holding on to 1000s of dollars and trades, open unrealized profit and your faces on the screen. Your mannerisms, if we were playing poker, your tells |
| 411 | 01:14:37,710 --> 01:14:48,930 | are right there. And I'm saying as someone that's observing it. If you pay attention to what it is you're doing, watch your own videos. Just like a boxer |
| 412 | 01:14:48,930 --> 01:15:03,360 | watches this competition is fight. Watch your own videos. Listen to what you're saying. Listen to your breathing Oh god, oh god, I'm not making funny and bro, |
| 413 | 01:15:03,690 --> 01:15:13,140 | I'm literally telling you, you are talking to yourself, but the whole world that's watching your live stream. They're seeing some of the folks that you |
| 414 | 01:15:13,140 --> 01:15:20,910 | can't see them when you would have your own. What is it the chat window open? Sometimes they will tell you Look, close it now be content with that right now |
| 415 | 01:15:20,910 --> 01:15:30,930 | stop it right now. And that you're you're trying to do something beyond that, where if you just stopped, right? When you feel that uncomfortable point at the |
| 416 | 01:15:30,930 --> 01:15:39,180 | height of your trade. That's when you're doing it. You know, subconsciously you should be closing that trade, you know it. But what you're really wrestling |
| 417 | 01:15:39,180 --> 01:15:46,170 | with, it's not because you're afraid that it's going to go and run in your favor. You're afraid if it does do that, that the audience is going to say you |
| 418 | 01:15:46,170 --> 01:15:56,460 | fucked up, you didn't get that big run. That's really what's going on. That's what's going on. And you're not wanting to close the trade at the height of the |
| 419 | 01:15:56,460 --> 01:16:04,590 | trades profitability when you're feeling that uncomfortable threshold? Because you haven't been there enough times yet. You're not desensitized. This is all |
| 420 | 01:16:04,590 --> 01:16:12,870 | new, new territory for you. And it's awesome watching it. It's fucking amazing watching it. I love it. I wish more of you would do it. I would I would watch |
| 421 | 01:16:12,870 --> 01:16:26,310 | this shit, I'm telling you it would. But when you feel that discomfort, that's growing pains, that you doing that last repetition to failure? Stop, don't go |
| 422 | 01:16:26,310 --> 01:16:30,810 | anymore, you're not going to get any more muscle growth. Stop right there. |
| 423 | 01:16:32,069 --> 01:16:39,749 | Then watch and see what happens. Does it run to your objective where you thought it was gonna go? Or does it turn back on you, and then measure that with your |
| 424 | 01:16:39,749 --> 01:16:49,439 | journal, to say, this is what I did that day is how much I got that this is exactly the moment where I felt uncomfortable. I close to here, and then record |
| 425 | 01:16:49,469 --> 01:16:57,779 | what you took away from that as a positive reinforcement. And then each time you do that, just like weight training, you'll be able to add another two pound |
| 426 | 01:16:57,779 --> 01:17:12,119 | plate, five pound plate, 10 pound plate, one more repetition, one more set, and you'll go beyond and grow. But the things that I love most watching you is that |
| 427 | 01:17:12,119 --> 01:17:23,639 | you're finding this stuff out in yourself. But I don't see anybody else giving you power. You told me I'm not trolling you. I'm telling you, if you do these |
| 428 | 01:17:23,639 --> 01:17:33,839 | types of things, I guarantee you, I guarantee fucking t you, you will be absolutely phenomenal. You'll grow bigger than me on YouTube, you will |
| 429 | 01:17:33,839 --> 01:17:42,479 | absolutely grow bigger than me. And if you just do the things I'm suggesting, you don't have to credit me I'm not asking for any of that bullshit. It's not |
| 430 | 01:17:42,479 --> 01:17:50,909 | about that I want to see you do well, I want to see the I want to see Vinnie do well, I want his algo boxship to become popular for people that like that kind |
| 431 | 01:17:50,909 --> 01:18:02,819 | of stuff. I don't have anything against anybody else. And these two individuals are highly critical of me. And I'm telling you, if they spent more time doing |
| 432 | 01:18:02,819 --> 01:18:12,989 | what it is that they do, and stop worrying about all this other drama bullshit your brands would grow. What makes it stagnant. And the things that people talk |
| 433 | 01:18:12,989 --> 01:18:24,149 | about you is that you still do the things I did in early on. Drama marketing only works for so long. And then you have to be able to do something beyond |
| 434 | 01:18:24,149 --> 01:18:38,189 | that. You both can trade. You both can do it. But you bring in other things and you allow outside influence the fuck with you. I don't. That's why I don't do |
| 435 | 01:18:38,189 --> 01:18:46,919 | it. But see, both of you have something that I don't have. You have a willingness to sit out there and do that. You're willing to do that. I'm not |
| 436 | 01:18:46,919 --> 01:19:03,059 | willing to do that. Think about it. You have a niche, you have a segment of the community that I will not cater to, I will not do that. I can call a move, I can |
| 437 | 01:19:03,059 --> 01:19:13,199 | point to a level and I can record myself doing that very thing trading to that. Because I'm in a closed environment where I cannot be talked to. I can't be |
| 438 | 01:19:13,919 --> 01:19:23,579 | distracted. I can't have someone asked me why did you do this and want you to fuck that. I have 1000 voices in my head constantly. Constantly telling me do |
| 439 | 01:19:23,579 --> 01:19:31,649 | this, don't do that. I don't need hundreds 1000s More doing it with the chat room. I can't do it. I thought I could when I tried mentorship, I thought for |
| 440 | 01:19:31,649 --> 01:19:39,689 | sure I'd be able to do it. And I found that I couldn't do it. And I've been very vocal about it. And some of you that want to go out and learn how to do this |
| 441 | 01:19:39,689 --> 01:19:47,189 | skill set because you want to go out on YouTube and do live streaming, I promise you a large portion of you're gonna be like What the fuck, you're not gonna be |
| 442 | 01:19:47,189 --> 01:19:54,989 | able to you're not going to be able to focus. It's not stage fright. Because if you're, if you're making yourself available to the people that are watching you, |
| 443 | 01:19:56,309 --> 01:20:03,089 | you have a genuine concern to help them. That's what you're there for. work, you want to entertain them, you also want to prove to the world you can do something |
| 444 | 01:20:03,089 --> 01:20:11,489 | that's great. That's admirable, I got all the respect in the world for anybody that does it. God trades by Matt, he gets out there. He's not, you know, hitting |
| 445 | 01:20:11,489 --> 01:20:20,969 | 1000. But he's out there trying to do it. I got respect for that. I'm never going to shit on somebody that's trying to do something because they got bigger |
| 446 | 01:20:20,969 --> 01:20:32,609 | balls than I do. I'm not out there doing that. And I know how to do this. But I also know my limitations, I can't, I can't manage that distraction. You both |
| 447 | 01:20:32,609 --> 01:20:47,369 | can. Matt can, I can't. So I bloom where I'm planted, I can do this, in this closed environment where I can't be distracted. Both of you, all three of you |
| 448 | 01:20:47,369 --> 01:20:58,799 | have mentioned now you're out there in front of everybody. That takes a great deal of fucking courage, and focus. I can't focus like that. Like, I literally, |
| 449 | 01:20:58,859 --> 01:21:11,369 | I can't focus. So I know my limitations. Just like you may go out there. If you're listening to this, and you thought for, you know, maybe in recent times, |
| 450 | 01:21:11,369 --> 01:21:22,499 | or when you first started trading, you want to be 100 handle run type trader, you may discover you can't, you can't hold on to position that long. Because |
| 451 | 01:21:22,589 --> 01:21:34,259 | your comfort is not in your patience threshold. doesn't support that type of trading. You got to be a hit and run type search go five handle 10 handle |
| 452 | 01:21:34,289 --> 01:21:44,729 | amount. 10 handle 15 handle 20 pips, if it's a Forex trade, you're done, you're completely out of the marketplace, you can relax, because you're wound up like a |
| 453 | 01:21:44,729 --> 01:21:54,899 | top, you're stressed out constantly. Okay, you can grow out of that. But until you do, you have to be comfortable with what you're doing. Right? You got to be |
| 454 | 01:21:54,899 --> 01:22:06,329 | comfortable in your own skin. I'm not comfortable being out there taking on trades, where if I do something wrong, because I'm listening to other people, I |
| 455 | 01:22:06,329 --> 01:22:14,279 | can't have a chat window open because my eyes gonna go right to that. Think about what you guys bitch about when someone says something negative or |
| 456 | 01:22:14,279 --> 01:22:25,499 | whatever, they're like squirrels to me, I can't, I can't help it. I can't fucking help it. That's I'm wired to despite. So if I'm out there with a chat |
| 457 | 01:22:25,499 --> 01:22:34,019 | window open, I'm gonna have 1000 things going through that chat window. And I'm gonna look at that stuff. And the whole time price is doing what it's doing. And |
| 458 | 01:22:34,019 --> 01:22:47,759 | I won't focus there. So because I know that's a character flaw in me, that's a human weakness in me that I wrestle with, I have to, I must make no allowance |
| 459 | 01:22:47,759 --> 01:22:57,839 | for any outside distractions. Some of you may not have that problem I do. But if you do have that problem, or similar, or maybe different things that you have to |
| 460 | 01:22:57,839 --> 01:23:06,569 | wrestle with, you have to figure out what they are, and then manage them. You have to do whatever it is to keep those things from influencing your ability to |
| 461 | 01:23:06,569 --> 01:23:14,849 | trade, observe price action, and know what it feels like to be in that moment right then and there as a trader. Because if you're not able to pick up on |
| 462 | 01:23:14,849 --> 01:23:25,799 | those, well, vibrations that you're getting, because of experience, you're getting it from the market, it's telling you what you should be doing. But |
| 463 | 01:23:25,799 --> 01:23:32,819 | because of the situation you're in, where you have to perform for somebody else that's watching you, or you think someone's gonna laugh at you because you |
| 464 | 01:23:33,089 --> 01:23:43,319 | didn't do something profitably. You're not doing what it is that you're there to do, which is follow your model your model your method, and make mind, manage the |
| 465 | 01:23:43,319 --> 01:23:53,369 | risk, close the trade and profit, and get the fuck out of dodge and let the people come back to watch it again. That's the main focus. And you have to keep |
| 466 | 01:23:53,369 --> 01:24:03,959 | the main focus in the spotlight. And if you let all this other shit, competition, this guy's better than this one. I can be better than that. If I |
| 467 | 01:24:03,959 --> 01:24:14,009 | did this, and I've had to do that. Just trade distictive what it is that you do. And do that. Fucking guarantee you if you didn't do all these other things. And |
| 468 | 01:24:14,009 --> 01:24:25,379 | if you'd listened to your own experience, that little moment where you're, you're doubting, close it. And over time, the more time you do that, you'll see |
| 469 | 01:24:25,379 --> 01:24:34,709 | that you'll be more comfortable holding past that. And then over time, how much time I don't know but it'll be a fascinating discovery for yourself. And your |
| 470 | 01:24:34,709 --> 01:24:43,529 | audience's will see it happening. It'll be recorded in your in your live streams. You'll have a perfect video journal of what it is that you went |
| 471 | 01:24:43,529 --> 01:24:50,879 | through. I guarantee you watching the video. You'll remember that very moment and you'll think that's exactly where my asshole was puckering right then and |
| 472 | 01:24:50,879 --> 01:24:58,319 | there. And I did the right thing by closing it. Look, it went down and I didn't see it at the time. I kind of felt it could but I closed the trade. I did the |
| 473 | 01:24:58,319 --> 01:25:05,489 | right thing there. And then you can aim for heard yourself say I did the right thing in the privacy when nobody's around watching. You can't hear you and you |
| 474 | 01:25:05,489 --> 01:25:17,309 | encouraging you cheerlead yourself. I promise you that you are probably sitting in your house in Florida, watching the videos and you're beating yourself up |
| 475 | 01:25:17,639 --> 01:25:26,459 | more than you do and you're invidious. Stop. Stop doing that. Because it's channeling that same negativity into your viewership, your audience and then it |
| 476 | 01:25:26,459 --> 01:25:35,789 | makes them do the same thing for themselves. Don't do that. Don't do that. cheerlead yourself. So you know what? I fucking did this shit. Today this way, |
| 477 | 01:25:35,879 --> 01:25:44,909 | and it paid out. I'm fucking hammering it. That's right. That's exactly right. And people think that's arrogant. Fuck them. Fuck these people that talk that |
| 478 | 01:25:44,909 --> 01:25:57,329 | shit. Because they are not making money. So they're fucking miserable. They're miserable. But you're letting those types of people creep in. And you're trying |
| 479 | 01:25:57,329 --> 01:26:05,699 | to arm wrestle that shit. I'm going to show the the brokers the haters, the fucking ICT retards. That's what everybody fucking says about everything. And |
| 480 | 01:26:05,699 --> 01:26:16,619 | that kind of stuff is not necessary. People watch YouTubers in trading to watch them trade or teach something. They're not there to listen to some horseshit. |
| 481 | 01:26:19,079 --> 01:26:24,929 | And I watch all three of you. I watch all three of you. |
| 482 | 01:26:26,189 --> 01:26:36,749 | Not every video, not the entirety of them. But I want you. And all three of you here have characteristics that I like. And if I could sit down with you, I would |
| 483 | 01:26:36,749 --> 01:26:47,129 | say, Look, do this, do this, do this. But neither one of you would do that. Because you don't want anybody thinking that I taught you anything. And that's |
| 484 | 01:26:47,129 --> 01:26:56,849 | unfortunate, because I see potential in all three of you. And a lot more of other YouTubers out there. Some guy that trade stocks are watching it all the |
| 485 | 01:26:56,849 --> 01:27:08,069 | time. And they'll do the trade stock options. They do these same types of things. They let the people in the chat room, manage their focus. And I when I |
| 486 | 01:27:08,069 --> 01:27:21,449 | see that stuff, I'm so much relieved that I came to grips with that real quick. I learned that lesson in 2016. In my first group and mentorship for just Forex. |
| 487 | 01:27:22,649 --> 01:27:30,989 | I thought for sure I was gonna be able to do it. And I just couldn't do it. I could not have 100 People ask me questions and feel like I'm gonna give them all |
| 488 | 01:27:30,989 --> 01:27:40,499 | the attention that they feel that they should get. You can't no human person can do that. No human being can answer a chat window. Every single person that paid |
| 489 | 01:27:40,499 --> 01:27:49,529 | them. They think that they have to have their question answered, and they have every right and expecting that. But not at the single second they asked for it. |
| 490 | 01:27:49,649 --> 01:27:59,789 | It's unreasonable. It's unrealistic. And I felt guilty because I couldn't deliver that personal one on one experience for them. Like, I'm sure some of you |
| 491 | 01:27:59,789 --> 01:28:05,189 | when you tweet to me, and I reply to you, and you're like, well, thank you so much for giving me a response. Or you make a big deal about like, I'm a |
| 492 | 01:28:05,189 --> 01:28:15,569 | celebrity, I'm not a fucking celebrity. I'm just a man. That's it. But when you respond that it was an interaction between us both, it's meaningful. Every |
| 493 | 01:28:15,569 --> 01:28:25,889 | single one of my paid students want that experience. Every single one of them because I'm a human being that is. Like, I'm in one location at one time. I |
| 494 | 01:28:25,889 --> 01:28:35,639 | can't be everywhere at one time. I'm not omnipresent. Okay? I'm not God. Okay, I'm not Forex. Jesus. I'm not index futures new Godhead. I'm not, I'm just a |
| 495 | 01:28:35,639 --> 01:28:47,639 | man. That's it. I'm a man. And I try the best I can to be an encouragement to everyone, even the people that don't like me. There is always some kind of |
| 496 | 01:28:47,639 --> 01:28:58,589 | redeeming quality in a person and I look for that. I look for that in everyone. And also, when it's possible, I try to find some way to steer them in the right |
| 497 | 01:28:58,589 --> 01:29:09,989 | direction to make themselves better. There are better personalities out there, that if they just did similar things, like I'm suggesting here tonight, they |
| 498 | 01:29:09,989 --> 01:29:19,529 | will be much more popular than I am right now. I'm a fad. I'm gonna fizzle out past November. People will still probably watch my videos, but I'm not going to |
| 499 | 01:29:19,529 --> 01:29:27,209 | be the thing somebody else is going to come up and it'll be interesting to watch you that is I'm not gonna be out there fucking kicking sand in their face and |
| 500 | 01:29:27,209 --> 01:29:36,479 | saying, Oh, you're a fucking fraud. Fuck you, pal, you know is that I'm going to be back in my old ways of sitting in the sidelines and doing nothing. Just |
| 501 | 01:29:36,479 --> 01:29:48,629 | watching from a spectators position, enjoying whatever happens in terms of who comes up next. I don't want to be at the top all the time. Like, I'm |
| 502 | 01:29:48,629 --> 01:29:58,409 | uncomfortable being here. Like I'm being honest, I don't like this. I get nervous. I would be nervous if I looked and seen how many people are listening |
| 503 | 01:29:58,409 --> 01:30:06,329 | right now. I don't know. And I will be nervous when I'm live streaming, to see how many people when I close the lifestyle, see how many people are there, it |
| 504 | 01:30:06,329 --> 01:30:16,859 | makes me nervous. Because I'm introverted, I may not sound like an introvert because I had the comfort of talking to a phone, when there's nobody here. But I |
| 505 | 01:30:16,889 --> 01:30:29,309 | wouldn't be this open with all of you. If we were in a large group. I was invited, you know, many times over the last 24 months to be speakers, a keynote |
| 506 | 01:30:29,309 --> 01:30:41,609 | speaker and a lot of engagement, some of them are overseas. And I just don't do those things. I don't feel comfortable in that setting. And I get offers all the |
| 507 | 01:30:41,609 --> 01:30:54,869 | time to do like big events, you know, teaching circuits and things. And I just don't want to do that. And because I have gotten to this point, and I don't like |
| 508 | 01:30:54,869 --> 01:31:06,569 | it, I feel uncomfortable. Because I just don't feel comfortable with it. Some of you may do very well in this and become giants and titans in the industry. I |
| 509 | 01:31:06,569 --> 01:31:17,879 | don't want to be, I don't want to be that. I want to go back to being what I was just simple, Michael, I know what I've been blessed with. I believe by November, |
| 510 | 01:31:17,879 --> 01:31:28,619 | I've done exactly what I promised the Lord I would do if he gave me this. And I've been very upfront with y'all. This is what I'm able to teach. This is how |
| 511 | 01:31:28,619 --> 01:31:41,219 | far we're gonna go. And I will be satisfied in November. And I can lay it down and sleep at night knowing that I've done my part of it. And because it's a |
| 512 | 01:31:41,219 --> 01:31:47,069 | video, you can go back and click on it, you can download it, never go back to my YouTube channel, or ever contribute to ad revenue, if you think that's the |
| 513 | 01:31:47,069 --> 01:31:56,639 | problem, or we think that's going to hurt me or if you want to starve me and my family. Like it's gonna happen, whatever. But I just know, when I'm done second |
| 514 | 01:31:56,639 --> 01:32:07,019 | week of November, I have done everything I could possibly do, to teach and share with the capabilities that I have as human beings, because I'm not the best |
| 515 | 01:32:07,019 --> 01:32:23,879 | teacher. I wish I was better. But the things that I teach, and the way I do it, I try to be as practical as I can. I try to be as realistic as possible. And it |
| 516 | 01:32:23,879 --> 01:32:35,249 | bothers me that I can't reach everybody, because I try, I try so hard, I pray to try to reach more of you. Because I know what it feels like I was there. I know |
| 517 | 01:32:35,249 --> 01:32:44,519 | what it feels like when you know you can do it. But it's just seems like it's just outside your reach. Your fingertips are just almost touching it, you can |
| 518 | 01:32:44,519 --> 01:32:59,279 | see it, you can almost grab it. He's gonna hold on a little bit more time, keep doing what you're doing. And it'll happen. But big runners, they come by |
| 519 | 01:32:59,279 --> 01:33:10,559 | partials and managing it that way. And in finding your sweet spot. That means how many contracts, how many lots as a Forex trade that you're gonna be able to |
| 520 | 01:33:10,559 --> 01:33:28,619 | hold. And then you'd let it go. What's the sweet spot? Look at my trades. Look at my trades. Look I'm teaching you by example. That's how you get there. Over |
| 521 | 01:33:28,619 --> 01:33:38,639 | time, you're going to take less off at your first partial. And you'll leave more often towards the end Terminus or the where you think the price is going to go. |
| 522 | 01:33:39,959 --> 01:33:47,789 | That larger portion, you'll reserve it for that. And then over time, you'll get to the point where you'll know what your first partial would have been in the |
| 523 | 01:33:47,789 --> 01:33:57,689 | past. But because you now feel confident about what you're doing, you'll take your first partial at where your second or third partial would be. And it would |
| 524 | 01:33:57,689 --> 01:34:08,579 | be a very small and just a little token, paying homage to how far you've gone as a trader. And when you get to a point where you've mastered your own model, and |
| 525 | 01:34:08,729 --> 01:34:17,669 | key point, you've mastered yourself, then you just start doing full polls. And the only time you take a partial is like today what you saw me doing in the |
| 526 | 01:34:17,669 --> 01:34:25,109 | NASDAQ where I got that vibration saying okay, it's going to run back on my stop, let me just kill half the position because if I'm wrong about that, at |
| 527 | 01:34:25,109 --> 01:34:33,959 | least I have half the position still on. After the first partial was taken. Then if it rolls down and hits my objective, and I'm okay with that. I did proper |
| 528 | 01:34:33,959 --> 01:34:44,909 | trade management either way. I've lessen the load in terms of the risk and the outcome I'm satisfied with. That's the sweet spot, but you don't know what that |
| 529 | 01:34:44,909 --> 01:34:55,739 | is for you. You don't know what that is. All of you listening. You don't know what that is until you just discover it on your own. And it takes time. It takes |
| 530 | 01:34:56,009 --> 01:35:06,719 | the initiative of going through the process of doing it. exposing yourself to that uncomfortableness of not knowing, do I hold do I close? And the easiest way |
| 531 | 01:35:06,719 --> 01:35:16,649 | to get past that growth is say, Okay. I've been at this point where I got $6,000, in open profit, I have 4000 hours and open profit. And I want to see it |
| 532 | 01:35:16,649 --> 01:35:29,339 | go further. But I'm afraid if it rolls back on me. And I'm afraid if I close it, it'll run to my target. So what do you do take half off, take half off, and be |
| 533 | 01:35:29,339 --> 01:35:39,269 | content with whatever happens after that. That's how you do it. That's how you conditioned yourself to get these big runners. That's how I was able to do it. |
| 534 | 01:35:40,709 --> 01:35:50,549 | Nothing happened in the books that I bought. Nothing happened listening to lectures and people that did this and did that. The things I heard Billy |
| 535 | 01:35:50,549 --> 01:36:01,259 | Williams, the who took 10,000 hours and $1.2 million dollars. It wasn't for all he did it. All of his discussions didn't help me. |
| 536 | 01:36:02,880 --> 01:36:15,120 | It created more puzzles. Just like I'm sure when I'm teaching what I teach, it creates a plethora of new, unanswerable questions. But those questions get |
| 537 | 01:36:15,120 --> 01:36:24,450 | answered over time. But you're expecting them all to be in your understanding right away. And some of you think that big runners should be something that's |
| 538 | 01:36:24,450 --> 01:36:32,850 | because now you can trade, you can find profitability, I need to be able to know you don't need, you don't need that. And you shouldn't talk in terms of I need. |
| 539 | 01:36:33,750 --> 01:36:49,500 | I need places so much unnecessary pressure, on performance, which by as a default, will result in performance anxiety. These are so critical for people to |
| 540 | 01:36:49,500 --> 01:36:57,990 | be able to master within themselves. And you don't know what those trigger events are going to be in your trading. You don't know what it is. I can't tell |
| 541 | 01:36:57,990 --> 01:37:08,670 | you what they're going to be. But I tell you when they're going to creep in, and I give you coping mechanisms to graduate through it. And journaling is the |
| 542 | 01:37:08,760 --> 01:37:20,760 | biggest thing. That's the biggest crutch. As a trader. You have to be you have to have it, folks. You have to nobody's going to cheerlead you. When you're |
| 543 | 01:37:20,760 --> 01:37:28,590 | going through drought drawdown you're not they're not going to do it. They're not not sufficiently. So you have to do it yourself. How can you do it? To |
| 544 | 01:37:28,590 --> 01:37:36,510 | encourage yourself go back in your journal and find a period where you were hitting it? Like you were firing on all cylinders? Everything you touched turned |
| 545 | 01:37:36,510 --> 01:37:45,180 | to gold It was fucking phenomenal trading you were dialed in. Read what you annotated in the charts, see the trades that you've taken, the executions, where |
| 546 | 01:37:45,180 --> 01:37:54,120 | you're getting in where you're getting out at the profits, all that shit? That's where you want to get high off of that. You want to take on that shit, okay? |
| 547 | 01:37:55,320 --> 01:38:03,090 | Because you're going to need it when you mess up. When you go through a period of drawdown or if you go like we had an April where I knew the market was in |
| 548 | 01:38:03,090 --> 01:38:12,180 | some funk and if I come out here it would have been not typical ICT so I practice what I preach to you if you don't feel like you're in line with the |
| 549 | 01:38:12,180 --> 01:38:23,940 | marketplace take a step away I got a fucking RV going down the road are you willing to do that? Chances are you probably aren't you think it's everyday |
| 550 | 01:38:23,940 --> 01:38:37,170 | trading baby. It's everyday trading the markets are open every day is a casino. That's bullshit. If, if you're now learning how to trade and you haven't found |
| 551 | 01:38:37,170 --> 01:38:46,830 | your model, and you haven't gone through the growth of discovering who you are and how to fuck you're gonna mess it all up. Everyday trading is not something |
| 552 | 01:38:46,830 --> 01:38:54,330 | you should be aspiring for. You should not be trying to do that. If you're brand new, you don't know yourself you don't know a model. If you're not consistent |
| 553 | 01:38:55,290 --> 01:39:10,530 | health Fuck no, no way. You're guaranteeing failure. You're you're inviting it and promising is going to be successful and it's endeavor. Trade less, choose |
| 554 | 01:39:10,530 --> 01:39:22,710 | quality setups, and opportunities and market environments to do that trading while you're learning and you'll never fear missing anything. You'll be more |
| 555 | 01:39:22,710 --> 01:39:34,770 | confident to trade in the environments to get those big runners. The things I share an openly talk about on Twitter. When I point to something that's okay. |
| 556 | 01:39:35,250 --> 01:39:48,270 | Mark this. I'm rarely wrong about that. When I share them, it's because everything that I would trust in myself is who I am and what I codified and |
| 557 | 01:39:48,270 --> 01:39:58,920 | created and all this bullshit. I will feel confident that I know if there's ever a time where I know that there's an opportunity that people are going to take |
| 558 | 01:39:58,920 --> 01:40:07,320 | the information and put Your money behind it, which is not what I'm inviting you to do. But when I know what I have all the things that I have in my repertoire |
| 559 | 01:40:07,620 --> 01:40:18,480 | behind me, that I feel confident to share it, that's when I do it. Because I know it will be abused, you'll over leverage your shit. And if it's over |
| 560 | 01:40:18,480 --> 01:40:27,300 | leveraged, and I'm not 100% confident, and you're going to tweet to me and say, I fucking did monads, and it didn't work out, and I'm gonna ask all you're gonna |
| 561 | 01:40:27,300 --> 01:40:37,530 | tell me, I'm an asshole in your sock puppet account. That's going to grieve me. And even if no one said they lost money, and it didn't pan out, it would still |
| 562 | 01:40:37,530 --> 01:40:46,410 | grieve me, because I know some of you are sitting in quiet silence, regret and head falling, something I may have inspired. So that's why I don't do it as |
| 563 | 01:40:46,410 --> 01:40:57,360 | frequently as you probably would want me to do. But I tossed my hat in the ring once in a while just to remind you who I am. And keep you encouraged. So |
| 564 | 01:40:57,390 --> 01:41:05,100 | hopefully, this has been somewhat helpful to you, it probably hasn't scratched the itch for some of you. And for some of you, you probably feel like I wasted |
| 565 | 01:41:05,100 --> 01:41:19,620 | your time. And that's fine. Nobody, nobody paid anything to come here. And I'm not holding any hostages. So take what is I gave tonight as heartfelt |
| 566 | 01:41:20,340 --> 01:41:31,950 | encouragement, obviously, advice that I think is beneficial, because I went through this stuff, like I went through it, and I had to go through it with a |
| 567 | 01:41:31,950 --> 01:41:42,420 | lot of failures. I lost a lot of money in real accounts, trying to do it other ways. Listening this shit that didn't make sense didn't work. And I stripped it |
| 568 | 01:41:42,420 --> 01:41:55,170 | down to I have to treat it like any other process. slow and methodical, slow and methodical, wins every fucking time just like a partial pays every time. A |
| 569 | 01:41:55,170 --> 01:42:07,560 | partial profit never fails to pay you a sound approach, it will always yield experience. And that experience will always be profitable, even if you have a |
| 570 | 01:42:07,560 --> 01:42:23,040 | adverse result on a short term measurable basis. That same adverse reaction or result that you try to do and expected some positive response or outcome, you |
| 571 | 01:42:23,040 --> 01:42:31,500 | can use that as a measuring stick, because the next time you do it, it probably won't be that bad. There'll be a little bit better, if not at all. So you have |
| 572 | 01:42:31,500 --> 01:42:41,280 | to have some expectation, going into this industry in trading, that you're going to have failures, you're gonna have setbacks, you're gonna have a prolonged, |
| 573 | 01:42:42,030 --> 01:42:52,890 | much more prolonged learning curve that you never expected. Because listening to a mentor, whether it be me or someone else does not guarantee your success, it |
| 574 | 01:42:52,890 --> 01:43:03,480 | does not guarantee it. Nobody can guarantee that. No one can guarantee you're going to get these big runners. But there's a proper way of doing it. And I |
| 575 | 01:43:03,480 --> 01:43:12,600 | covered it tonight. There's no sugarcoating it. There's no faster way around it. It's just you have to go through because you every single one of you listening, |
| 576 | 01:43:13,500 --> 01:43:22,620 | just like me, I have a lot of mental baggage. I have mental illness that I had to wrestle with every single day. And it's not easy. And maybe you don't have |
| 577 | 01:43:22,620 --> 01:43:32,610 | that in your in your existence in this world. I do. But you have probably something else. Maybe you have a spouse that is just a nagging non supportive |
| 578 | 01:43:32,610 --> 01:43:38,340 | person. And every time you're looking at these charts, they're going to be over your shoulder. What the fuck are you doing that for? Why are you wasting time, |
| 579 | 01:43:38,760 --> 01:43:48,540 | you're wasting your time with this, you've been doing this shit for three months, you make any money yet. I'm not saying to be a terrible member of that |
| 580 | 01:43:48,540 --> 01:43:59,790 | relationship. But I would suggest if it's like that for you find a way to do it away from them. And I'm not saying divorce on this thing, find your way of doing |
| 581 | 01:43:59,790 --> 01:44:12,120 | it, where they're not able to put that energy overtop of you. Because it will steal your joy, it will replace your passion. And it'll rob you of the |
| 582 | 01:44:12,120 --> 01:44:24,780 | opportunity to be able to show them politely that they were fucking wrong. They were fucking wrong. Remember, this is your pursuit. And if you're married, you |
| 583 | 01:44:24,780 --> 01:44:35,640 | got to give them the fruits to believe in it. But don't let them choke your fucking roots before you start growing that fruit. Don't give any opportunity |
| 584 | 01:44:35,640 --> 01:44:45,570 | for the Satan, the enemy, the fucking thing that comes in it creeps in and spoils the vine. Don't get any opportunity for that. You have to guard your |
| 585 | 01:44:45,570 --> 01:45:01,050 | mind. Guard your time, keep the bullshit out of it. That may be toxic people. It may be members in your friendship circle. co workers, your very spouse Don't let |
| 586 | 01:45:01,050 --> 01:45:11,520 | them do it. It doesn't mean you mistreat them or be ignorant to them. Just don't make it available for them to be able to critique it. Put the work in, and when |
| 587 | 01:45:11,520 --> 01:45:20,310 | you get there, then you can decide how you reveal to them. And you'll have fun doing this, don't be an arrogant prick about it. Because I did that, and it |
| 588 | 01:45:20,310 --> 01:45:31,650 | doesn't work well. You don't get friends. And you don't really influence people in the right way. And people will care about your opinion, even for things that |
| 589 | 01:45:31,650 --> 01:45:40,680 | you don't even know the thing about. But it's really fake friendship, it's fake, it's fake adoration. Because they just want to be able to get something from you |
| 590 | 01:45:40,680 --> 01:45:49,860 | or you do something for them. And when you don't do it, or they feel like they've hit a wall in your relationship with you, they won't be interested in |
| 591 | 01:45:49,860 --> 01:45:57,720 | you. And then you'll be the deck you'll be the arrogant asshole bla bla. And that's exactly what happened. Let me borrow money, a lot of success and love to |
| 592 | 01:45:57,750 --> 01:46:03,870 | be able to do this and be able to do that. It's not the same |
| 593 | 01:46:05,729 --> 01:46:17,879 | as being someone that is more genuine, down the Earth. You're not out there trying to rub, but you haven't everybody's face. Talking down to people, because |
| 594 | 01:46:17,879 --> 01:46:27,089 | you have more than a half. That's all the wrong reasons to be doing this. And some of you young guys, you already know, that's what you want to do. And I hope |
| 595 | 01:46:27,089 --> 01:46:37,349 | you don't do those things. Because you might get attention, you might get a following from all that stuff. But you're gonna have a whole lot of people that |
| 596 | 01:46:37,619 --> 01:46:46,409 | won't have respect for you, they won't have any kind of consideration for what it is that you're you're dealing because they're going to see it for what it is, |
| 597 | 01:46:46,409 --> 01:46:54,779 | it's going to be just clout. You might be successful, you might be able to make a lot of money. But people don't really give a fuck, because they can't spend |
| 598 | 01:46:54,779 --> 01:47:01,799 | your money. They can't drive your cars, they can't sleep in your houses, they can't sleep, they can't swim in your heated pools, they can't go into your |
| 599 | 01:47:01,799 --> 01:47:15,449 | vacation homes. So none of that really matters. And if you're inspired by all that stuff, once you get it and listen to me, once you have all that stuff. It's |
| 600 | 01:47:15,449 --> 01:47:27,449 | like I had much higher expectations. Before I actually got it. Like I thought I would have this feeling I would have that experience. It's not like you think it |
| 601 | 01:47:27,449 --> 01:47:39,779 | is. It's nice to have it but once the novelty wears off, and everybody that you know sees you have it. It's it. They're not calling you up. Hey, do you still |
| 602 | 01:47:39,779 --> 01:47:48,329 | have that sports car in the garage? Do you still? Do you still go to that place that you have over here? Do you still have this over here? Do you do that? |
| 603 | 01:47:48,419 --> 01:47:56,729 | Nobody gives a fuck. But right now when you don't have it, you think that's what it's like for everybody that has it's not, it's not like that. It's just stuff. |
| 604 | 01:47:58,439 --> 01:48:09,329 | You need to enjoy being successful for the reasons of being successful. And free. Doing it so that way you don't have to work with fucking Karl again. You |
| 605 | 01:48:09,329 --> 01:48:20,429 | can leave you can tell your boss you're fucking fired. be unemployable. That's the reason why you do this. No other reason. Not for Klout not for people to |
| 606 | 01:48:20,429 --> 01:48:32,009 | suck your ass off on public. It's simply to be free of all the bullshit. You want fuck you money. If you think that's crude, I'm I'm talking in too much blue |
| 607 | 01:48:32,009 --> 01:48:39,329 | collar. This is what you get sometimes with me when I'm live, there's no filter. It's not pre recorded where it's edited out. You shouldn't have your kids |
| 608 | 01:48:39,329 --> 01:48:48,029 | listening to me when I'm here. Anyway. I'm talking to adults. I'm talking where the rubber meets the road. This is the kind of stuff that you would have someone |
| 609 | 01:48:48,029 --> 01:48:58,679 | tell you that has gone through it. I've had the good and I've had the bad and what some of you young guys think that you want. I've wanted that stuff too. And |
| 610 | 01:48:58,679 --> 01:49:12,839 | once you obtain it it's not as important in the things about being present present in the moment around your loved ones around when you're around your |
| 611 | 01:49:12,839 --> 01:49:24,179 | friends. Think about how many times you're posing you're trying to be more than you really are. I did that shit all the time as a 20 year old all the time |
| 612 | 01:49:25,289 --> 01:49:35,819 | 3000 $2,000 In my pocket all the time knotted up any opportunity to pull that fucker out gone and 711 grab something to drink the whole fucking wild had to |
| 613 | 01:49:35,819 --> 01:49:49,619 | come out because I wanted somebody say dare do that reminded me yeah, I've arrived now fucking stupid that was I would never do that today. I have fucking |
| 614 | 01:49:49,619 --> 01:49:56,099 | bad upside my fucking head be laid the fuck out and roll great day where I was stood. So my eyes to be like Damn, he was stupid as fuck carrying that knot |
| 615 | 01:49:56,099 --> 01:50:11,399 | around my mouth. But that's dumbshit people do when you're young. You do dumb shit. And racing to get to these big runners before you're properly equipped |
| 616 | 01:50:11,429 --> 01:50:20,459 | mentally, and the model and the experience to be able to do that consistently, you don't want to just do it one time and say, Yeah, I did it. You won't be able |
| 617 | 01:50:20,459 --> 01:50:36,029 | to do it consistently, a couple times a month. That has to take time. And time is what many of you don't want to spend. You'll be in a hurry to get there and |
| 618 | 01:50:36,059 --> 01:50:43,229 | blow accounts. And I got no time to be learning this shit. You talk too much ICT. Let me get out here and put my money in this account mean goodbye, some |
| 619 | 01:50:43,229 --> 01:50:52,019 | accounts, challenges, and fucking shit yourself trying to say, Oh, I blew that again. We go out and try to make some more money next two weeks, and I some more |
| 620 | 01:50:52,019 --> 01:51:03,269 | challenges. Which one makes more sense? Because that doesn't sound like it can make sense to me. Sounds like it's a waste of fucking time and money. So you're |
| 621 | 01:51:03,269 --> 01:51:14,399 | doing two things incorrectly, you're wasting your time rushing to try to do something you're not equipped to do. versus taking your time slowing the fuck |
| 622 | 01:51:14,399 --> 01:51:26,819 | down. Enjoy the process of doing this. Because it's a career. It's not. It's not a hobby. And some of you guys think it's like a scratch off, like you fucking |
| 623 | 01:51:26,849 --> 01:51:34,709 | get into a funded account. And like, Yeah, I'm gonna get here and make five fingers. Like, what happens if you do get lucky and do it one time, and it was |
| 624 | 01:51:34,709 --> 01:51:43,979 | just happenstance that got you there? You're gonna know damn well. What's if you listen to these people that are honest, that are funded account representatives. |
| 625 | 01:51:45,479 --> 01:51:57,089 | They'll come out and tell you they know the people that are going to be getting payouts consistently. And the ones that just got lucky. They know are you going |
| 626 | 01:51:57,089 --> 01:52:05,759 | to be the person that got to pay out the first time and knowing your heart that it's probably not going to happen again. I don't want to hear that. I don't want |
| 627 | 01:52:05,759 --> 01:52:12,419 | to see that in any of you. I want to see, you know, beyond the shadow of doubt that you're going to take money from these funded accounts, and then find |
| 628 | 01:52:12,419 --> 01:52:26,789 | yourself. Oops, yeah. Don't have they'll have all your expected future revenue in a company like these. They may be obtainable right now. But nothing's |
| 629 | 01:52:26,789 --> 01:52:40,499 | guaranteed. nothing's guaranteed. But if you take the money you earn from that and put it into something that makes you money. Something residual income. I'm |
| 630 | 01:52:40,499 --> 01:52:48,299 | not suggesting what that might be. Because there's lots of things you can do. But at the very minimum, you should have at least a real funded account in your |
| 631 | 01:52:48,299 --> 01:53:01,259 | name as a real broker, like a real burger where they can, where you can take out all the fucking money, you can take out 50% and more. And not gonna say no, they |
| 632 | 01:53:01,259 --> 01:53:08,339 | don't have any restrictions, you make $1,000 10,000 hours in that one day is not as long as you got time to deal with domestic wire where you're at, and they can |
| 633 | 01:53:08,339 --> 01:53:16,709 | send that shit out to you that day. Not you got to be profitable, five more business days. In fact, that's it, I get it, they all have rules, okay, they |
| 634 | 01:53:16,709 --> 01:53:25,949 | have a business model they have to adhere to. But at some point, you're gonna have to leave that or at least branch out into doing real brokerage. And I don't |
| 635 | 01:53:25,949 --> 01:53:36,149 | represent any brokers, I don't represent any funded account firm. I'm not introducing broker, I don't go there. But you need to be in a reputable but once |
| 636 | 01:53:36,149 --> 01:53:44,399 | you start being profitable, you need to take your money and put it into a real brokerage firm. And the things that you adhere to as far as the rules that got |
| 637 | 01:53:44,399 --> 01:53:54,959 | you to that point, just apply that same shit to your funded account. No approach, do that with your real money, but do even more strict adherence to |
| 638 | 01:53:54,959 --> 01:54:07,949 | rules. Many of you don't like the idea of hearing that. But listen to the guys that are making big money. ICT student does this and does that |
| 639 | 01:54:08,069 --> 01:54:25,919 | 100,000 180,000 500,000 not listen to what they're risking less than 1%. Yeah. They listened. They listened to those presentations where everybody said ICTs |
| 640 | 01:54:25,919 --> 01:54:39,749 | talk about 1% risk, but that should you can't get rich doing that. Did you make a half a million dollars this year? Did you make $180,000 this year? I think |
| 641 | 01:54:41,609 --> 01:54:50,249 | these cats are doing it. They're using what they learned. They're tricking you into blazing their own trail. I'm not giving them setups. They're finding |
| 642 | 01:54:50,249 --> 01:54:59,399 | themselves and they're not pushing the risk. And they're getting paid out and they're getting interviewed by the companies that paid them out. Where's the |
| 643 | 01:54:59,399 --> 01:55:11,789 | fraud? Where's The fucking fakery in that they're doing everything on their own. And I have so much respect. And I'm proud of them. I have many students that do |
| 644 | 01:55:11,819 --> 01:55:25,379 | more than that, that are quiet, they don't want any kind of fucking notoriety. And I'm proud of them to, I'm more proud of them. Because they know why they got |
| 645 | 01:55:25,379 --> 01:55:35,939 | into this. And they're staying inside their own lane, they don't give a shit about trying to prove to anybody else. They're not working anymore. That you |
| 646 | 01:55:35,939 --> 01:55:42,899 | don't need, you don't need to convince them that they did the right thing, believe me, they're waking up every day saying I did the right thing. And that's |
| 647 | 01:55:42,899 --> 01:55:51,089 | what you need to do, you need to be able to be comfortable in your own skin. And growing as a trader, whether it be this idea of trying to catch these big |
| 648 | 01:55:51,089 --> 01:56:02,309 | runners or there being just finding consistency, or what asset class to trade or what model to trade. So there's so many things that you're wrestling with, you |
| 649 | 01:56:02,309 --> 01:56:03,899 | may not feel like you are but you are. |
| 650 | 01:56:05,279 --> 01:56:14,879 | All these things are going to be impactful. And they're going to either derail you prolong your learning curve. Or if you figure out what it is that you have |
| 651 | 01:56:14,879 --> 01:56:25,349 | to do, to grow through it. Because some of these things, you're gonna have to go through these things. There's no way around them. Just like that first losing |
| 652 | 01:56:25,349 --> 01:56:35,159 | trade or getting it wrong the first time. You don't want to have that experience, you might as well just do it quickly. Just do a quick thing, get it |
| 653 | 01:56:35,159 --> 01:56:44,549 | over with. That's why I tell everybody, as soon as you get a live account, flip a quarter take the first trade based on a whim. Get that loss out of the way. |
| 654 | 01:56:44,699 --> 01:56:55,589 | But the first loss come that way. It's done. The ice is broken. Now it's nothing to fear server. Because you'll sit there in heaven Hall worry about me, it's my |
| 655 | 01:56:55,589 --> 01:57:04,229 | first. It's my first real trade man. It's like what about performance anxiety? What if she doesn't really think I measure up? That's the kind of shit that a |
| 656 | 01:57:04,229 --> 01:57:15,779 | guy does. When you look at this account. They make it sexual. They want to make sure that the market talks about them to their girlfriends tomorrow. No, you're |
| 657 | 01:57:15,779 --> 01:57:24,899 | going in there to have a romp. That's it. That's it. You got to stop loss. That's your fucking protection. There's no sexually transmitted diseases, STDs, |
| 658 | 01:57:24,899 --> 01:57:33,839 | a standard deviation, that's the only thing closest to STD in your trade, it's ever going to be there. So don't be worrying about this shit. You're not taking |
| 659 | 01:57:33,839 --> 01:57:45,719 | them home to meet mom. Go in, have a one night stand or romp. That's it, it's done. your stop loss is your protection, your target, that's your orgasm. There |
| 660 | 01:57:45,719 --> 01:57:57,119 | it is. Simple as that. Be thankful, happy ending. Next. It doesn't make you a player doesn't make you a dog doesn't make you a, you know, a less than a |
| 661 | 01:57:57,119 --> 01:58:06,989 | gentleman. It just means that you are a trader, you're going in there taking what's yours. That's it. And sometimes you're gonna get turned down. It happens |
| 662 | 01:58:06,989 --> 01:58:21,119 | guys, it happens ladies, you might think that that trade is something that you can take home. And they say Not tonight. And you go home. That's it. You're by |
| 663 | 01:58:21,119 --> 01:58:33,869 | yourself. You don't take any profits and you go in, in the club, you drop some money, buy some drinks, nothing happens. You lost. That's drawdown, get over it. |
| 664 | 01:58:34,949 --> 01:58:42,029 | But guess what happens? Guess what happens the next fucking weekend? You got Euro Money in Your Pocket? You're going out to that same Football Club, you're |
| 665 | 01:58:42,029 --> 01:58:49,679 | on the same fucking thing. That's your model. Well, why are you looking at trading any different? You got out there, you invest the money, you buy some |
| 666 | 01:58:49,679 --> 01:58:58,139 | drinks, you want to have a good time. And the market says tonight. Thanks for buying the drinks though. You're going to go back to the next trading |
| 667 | 01:58:58,139 --> 01:59:15,269 | opportunity at the club. It's a process. It's all it is. It's a process, how you think about it. What you make it in your mind as a deterrent, or a boundary or a |
| 668 | 01:59:15,269 --> 01:59:26,459 | barrier. You're doing it yourself. It's just numbers, the markets going up or it's going down or it's going sideways. That's it. That's all. That's all that |
| 669 | 01:59:26,459 --> 01:59:36,299 | is happening. But you don't realize what you're doing internally that's preventing you to be able to get to these big runners. What you're scaring |
| 670 | 01:59:36,299 --> 01:59:44,879 | yourself with what you're concerning yourself with. What is the distractions that being an impediment to you doing these types of trades? You know how you |
| 671 | 01:59:44,879 --> 01:59:55,589 | discover what they are journaling them. Journaling, there's nothing wrong about recording your concerns and saying I noticed today when I was in the market, I |
| 672 | 01:59:55,589 --> 02:00:05,819 | was at this point at this time the market has done this or that and I was concerned Not saying I'm scared. I was anxious. No, I was concerned about this, |
| 673 | 02:00:05,849 --> 02:00:12,779 | whatever it was that was distracting you, whatever it was that you were worrying about. But you're not saying worry or scared. You're saying you were concerned |
| 674 | 02:00:12,809 --> 02:00:19,979 | concern is something like a doctor, if you have something wrong with you, you want them to have concern, but they're not coming in, they saw your says, fuck, |
| 675 | 02:00:19,979 --> 02:00:27,569 | dude, you are not going to believe this. You got fucking what, six days, maybe five days at most, man, what the fuck I hate to be you, nobody's gonna do that |
| 676 | 02:00:27,599 --> 02:00:34,439 | doctor, you're not gonna, you're gonna level that guy. Or you might have smacked that woman, which is probably not the best thing to do. But you're gonna be |
| 677 | 02:00:34,439 --> 02:00:42,629 | scared shitless you're gonna be want to throttle them. Like what the fuck is coming, you're telling me that for. You don't want to do that. You don't wanna |
| 678 | 02:00:42,629 --> 02:00:51,989 | do that in your journal. You don't want to be scaring the shit out of yourself. When you refer back to it, you want it to be neutral, without emotion. But you |
| 679 | 02:00:51,989 --> 02:01:03,719 | know, by when you say I was concerned about this, you are saying? A roundabout way that this was a major issue for you, whether it be anxiety, or fear |
| 680 | 02:01:03,719 --> 02:01:17,129 | inducing. But you're not recording it that way in your journal. Everything else apart from those events has to be sugar coated, self fucking love. Yes, it is |
| 681 | 02:01:17,129 --> 02:01:26,909 | absolutely verbal masturbation, it's the thing that gets you off. When you go back into your journal. You're loving yourself. And there's no reason for you to |
| 682 | 02:01:26,909 --> 02:01:34,139 | be ashamed of it. It's not arrogance and pride, that's for you to read, you're not showing it to the world. You're not putting on New York's bestseller list. |
| 683 | 02:01:34,619 --> 02:01:45,869 | It's just for you to go back and cheerlead yourself when you need it. Because believe me, you're gonna fucking need it. And by going through that process, |
| 684 | 02:01:47,099 --> 02:01:55,169 | you're completely desensitizing yourself to the outcome. It's irrelevant. If trade wins or doesn't win, you don't care. You've been here before. You've been |
| 685 | 02:01:55,169 --> 02:02:05,369 | the disc club. Yeah. I went out this many times over the years, or this year, went to this club, I saw this girl several times bought her drinks, water |
| 686 | 02:02:05,369 --> 02:02:14,729 | drinks, water drinks, I thought for sure after the fifth time I was going to get it and no. So what are you going to do? You're not going to go there and do that |
| 687 | 02:02:14,729 --> 02:02:23,579 | again. But you're not going to stop going to that club, you're gonna, it's not gonna go to that lady or that guy, you're not going to give them that attention |
| 688 | 02:02:23,579 --> 02:02:33,809 | anymore, you're going to do something different, because it's not yielding you the result that you're looking for. You're going through the process, just like |
| 689 | 02:02:33,809 --> 02:02:43,409 | going through the process of trying to catch these big runners, you go into one contract, graduate two contracts. And then you take one contract off, and you |
| 690 | 02:02:43,409 --> 02:02:53,759 | let that last one run. And if it stops you out who cares? You're stopping should be in a position where it's not a loss anyway. And you do this over time, and |
| 691 | 02:02:53,759 --> 02:03:04,529 | you completely desensitize yourself, to getting to the point where you can hope for these longer runs. But you can't do it right out the gate. And anybody that |
| 692 | 02:03:04,529 --> 02:03:17,819 | tells you you can with their service, their product, or whatever the fuck they're doing is bullshit. Period. They're selling you a fucking pipe dream. I'm |
| 693 | 02:03:17,819 --> 02:03:27,119 | telling you, you can do it. I'm telling you. You can do more than what you think you can do right now. But you can't do it real quick. That's all I'm just being |
| 694 | 02:03:27,119 --> 02:03:36,269 | a realist. I'm being practical. I'm trying to talk to you. With the right parameters. That way, you can set yourself up with realistic expectations. And |
| 695 | 02:03:36,269 --> 02:03:42,869 | then allow yourself the time to get to these thresholds that you're probably not even aware that you can do something you probably don't think you're ever be |
| 696 | 02:03:42,869 --> 02:03:51,389 | able to do 100 handle around. Somebody you're struggling to find a five handle and you're thinking, dude, I can find five handles consistently two times a |
| 697 | 02:03:51,389 --> 02:04:00,689 | week, you're talking about 100 handles. And maybe the way I'm talking to you, right? Seems like it's word salad. It doesn't mean anything to you because it |
| 698 | 02:04:00,689 --> 02:04:14,369 | feels like it's unobtainable for you. Well, that's okay. It's for right now. I promise you when I first started doing this shit, November 5, in 1992, at nine |
| 699 | 02:04:14,369 --> 02:04:24,809 | o'clock on a Thursday evening, in my aunt Barb and Uncle stands house. I did not know what I know about trading right now, or even knew that it was possible to |
| 700 | 02:04:24,809 --> 02:04:34,469 | know what I know. So how the fuck could you right now, place any limitations on yourself when you just started? If you've been doing it less than two years, |
| 701 | 02:04:34,529 --> 02:04:44,819 | you're still fucking new. you're brand new, you have no idea what the fuck is going on yet? And why are you placing all of this weight on your shoulders? |
| 702 | 02:04:46,049 --> 02:04:55,319 | Nobody would do that. Nobody that is successful, would be able to go back in time and a time machine tell their selves at two years and experience. Say What |
| 703 | 02:04:55,319 --> 02:05:03,029 | the fuck? You're not doing enough. You should be doing this by now. Nobody knows. Got it, we'll do that. But something you think that that you should be |
| 704 | 02:05:03,029 --> 02:05:16,349 | doing to yourself. And that is toxic thinking. It draws you to if you do that in anything, whether it be personal relationships, exercise, weight loss, whatever, |
| 705 | 02:05:17,459 --> 02:05:26,999 | the hobby, something you're trying to do well, at a perfect example, my eyes aren't the best anymore. You know, I'm older, and I've been looking at screens, |
| 706 | 02:05:26,999 --> 02:05:38,429 | all my life, light sensitivity, and it's just, I have a lot of shit going on. So when I go to the range, I shoot, my eye fatigue is way sooner now than it used |
| 707 | 02:05:38,429 --> 02:05:51,539 | to be. And then I'm coming, I'm getting to an age where I'm an older guy. So I'm really seeing these changes in my body and my ability to do things I used to be |
| 708 | 02:05:51,539 --> 02:06:02,729 | able to do when I was a younger man. It's a little bit unsettling for me. What I took it as why I'll be able to do this now I'm not able to do as well. |
| 709 | 02:06:04,080 --> 02:06:12,510 | If you tear yourself down, and talk about how, oh, you know, I can't do this anymore. As miserable. I'm a failure on this now, I don't think was it gonna do |
| 710 | 02:06:12,510 --> 02:06:22,980 | for you, that's not gonna make you better. And it doesn't make you Macho. To say that, Oh, you're being a pussy when you talk to yourself, that doesn't make you |
| 711 | 02:06:22,980 --> 02:06:32,700 | macho doesn't make you more stronger. What it really does is it's beating down your subconscious. And your subconscious is what manifests through your |
| 712 | 02:06:32,700 --> 02:06:42,840 | emotions, and your psychological response to stress. Yeah, so when you're out there, and you're beating your chest and saying, Oh, I'm a pussy, I just got to |
| 713 | 02:06:42,840 --> 02:06:51,570 | learn how to hold these trades longer. Or I don't know why I can't hold these trades anymore. It's just, you know, this, this that you're literally charging |
| 714 | 02:06:51,570 --> 02:07:04,110 | your subconscious, with so much underlying anxiety, that it will always be there. At that time. When you feel uncomfortable about doing the very thing that |
| 715 | 02:07:04,110 --> 02:07:12,060 | you think you want to do or say out loud, you want to do it. Or tell people, This is my goal, I want to be 100 handle trader, I want to get these trades and |
| 716 | 02:07:12,060 --> 02:07:25,350 | make 30,000 $50,000 $100,000 months. Okay? That's a dream. When you say it, it's a goal, when you go through a process of working towards it, in limiting your |
| 717 | 02:07:25,350 --> 02:07:35,370 | focus and keeping bullshit from getting in. That it's not a dream anymore. It's a goal. And it's an accomplishment, when you go through that process of taking a |
| 718 | 02:07:35,370 --> 02:07:45,840 | dream, turning into a goal and putting the work behind it and filtering out all the bullshit. That's how people get there. But not pressing into that |
| 719 | 02:07:45,870 --> 02:07:56,850 | uncomfortable period, with a process of being able to weigh out what it is that they have to do. Marginally incrementally, holding on for a little bit longer on |
| 720 | 02:07:56,850 --> 02:08:07,680 | the next trade. And when you feel uncomfortable, stop it close the trade. You're getting out in profit. Why? What is the problem? Did you make whatever you're |
| 721 | 02:08:07,680 --> 02:08:17,580 | making that trade yesterday? Probably not. So are you doing, you know, improvement? Yes. Are you profitable? Yes. Are you adding to your bottom line |
| 722 | 02:08:17,580 --> 02:08:29,250 | for the month and the weekend? That day? Yes. Where the fuck is the shortcoming here? But in your mind, you're thinking it's not enough? It's not enough. It's |
| 723 | 02:08:29,250 --> 02:08:42,810 | the same thing, ladies that every man thinks every man thinks this before they laid down with you. Yes, we're talking in crude terms right now. But that's the |
| 724 | 02:08:42,810 --> 02:08:56,610 | reality. That's the reality. Men always do this to themselves. They always do it, man. What, what am I going to be like to her? We lay down together, and |
| 725 | 02:08:56,610 --> 02:09:09,450 | we're going to measure up. That's what men do all the time. All the time. And ladies don't do that in their trading. They're not looking at this and thinking, |
| 726 | 02:09:09,450 --> 02:09:18,990 | Well, you know, am I going to pull this trick off? Like I did on that last guy I was with? No, you're not doing that. It's money. It means something to you men. |
| 727 | 02:09:19,530 --> 02:09:27,660 | We think what are dicks. Everything's about measurement. Who can do it longer, lasts longer, who's longer? That has nothing to do with fucking trading that has |
| 728 | 02:09:27,660 --> 02:09:34,890 | nothing to do with the markets. But that's what you're thinking. And if you're not thinking about it right then and there, you're thinking when I get this |
| 729 | 02:09:34,890 --> 02:09:44,910 | payout, I'm gonna be going out to this this this I'm like trying to get this girl. Yeah. You're trading because you want to get screwed. And you're rushing |
| 730 | 02:09:44,910 --> 02:09:51,360 | to get to that because you think that that money is gonna make you attractive. It's gonna make you more significant. So therefore the honeys are gonna be |
| 731 | 02:09:51,360 --> 02:10:02,940 | wanting to warm up to you. And maybe they will. But you really want one that does that. All the perspective is fucking skewed in this industry. With younger |
| 732 | 02:10:02,940 --> 02:10:13,860 | men, they don't know what they're doing. They're running around doing stupid shit rushing to get money for all the wrong reasons. I don't know who needs to |
| 733 | 02:10:13,860 --> 02:10:23,100 | hear that. But there it is. But anyway, I tried to close this a little bit ago, and I'm quite certain I'm in dog house and I get out of here because it's 10 |
| 734 | 02:10:23,100 --> 02:10:31,290 | After I didn't get a knock on the door, so that means I'm in trouble. I am in some serious problem trouble. So I'll probably have to get some marriage |
| 735 | 02:10:31,290 --> 02:10:43,230 | counseling after this one. I knew he was gonna go up and stay. He told me is gone, man. I know. But she knows in November, this shit stops. So it doesn't |
| 736 | 02:10:43,230 --> 02:10:53,040 | mean I won't hear it. But anyway, I'm going to close it here. So you've had two hours and 10 minutes with me tonight. And I probably wasted some of your time. |
| 737 | 02:10:53,400 --> 02:11:00,930 | You know what, you'll be better for it. Even if you think it was a waste of time, you heard something tonight that it's going to come up later on when it's |
| 738 | 02:11:00,930 --> 02:11:14,100 | needed. And even if you think about it again. Think about how it is applicable to you. You never, you never need to come back and say he was right. I don't |
| 739 | 02:11:14,100 --> 02:11:24,570 | care about being right. But somebody that's listening, need to hear this tonight. Somebody needed to hear these things. Okay. And maybe he didn't need to |
| 740 | 02:11:24,570 --> 02:11:30,960 | hear you've overcome it. Maybe it was fun to hear how it used to be for you and how you don't have to feel that way anymore. Or maybe you know, somebody that's |
| 741 | 02:11:30,960 --> 02:11:37,860 | going through it, you've gone through it. And they're in the audience with you right now. Okay, and you're listening to an old guy that's been here before and |
| 742 | 02:11:38,970 --> 02:11:49,830 | fumbled my way through it and found my way on the other side of it. It's practical information. But you know, nobody at the time going through it thinks |
| 743 | 02:11:49,830 --> 02:11:58,620 | like this, they think there's going to be some easy fix some 123 operation or, or something in the trading charts or something that can fix it. For him. It's |
| 744 | 02:11:58,620 --> 02:12:09,840 | not, it's between your ears. Everything about trading is between your ears that that seven pound universe that we call our brain. It's a wonderful organ. God |
| 745 | 02:12:09,840 --> 02:12:21,210 | has been so gracious to give us such a super charged computer to do so many processes are so fast, infinitely faster than anything we can create. Don't give |
| 746 | 02:12:21,210 --> 02:12:33,150 | a fuck who says otherwise. We have a personality, we have a spirit we have a part of us that we bring into trading. And all of those things are going to have |
| 747 | 02:12:33,150 --> 02:12:46,440 | a major impact. And they can be positive. But unfortunately, in the beginning, most of its the negative, you're coming in here with needs. I need to make more |
| 748 | 02:12:46,440 --> 02:12:53,190 | money, I need to be able to pay my bills, I need to be able to be more profitable so that we can live in a better house. That way I can have a better |
| 749 | 02:12:53,190 --> 02:13:03,720 | relationship because I don't live well enough to get take a lady or male friend that I would like to have. I'm doing this because I'm lonely. I don't need to be |
| 750 | 02:13:03,720 --> 02:13:13,020 | with somebody else right now because you're hurting. And this is going to be compensation for that. It's not, you're still going to be lonely. Lots of money |
| 751 | 02:13:13,050 --> 02:13:24,270 | doesn't make you not lonely anymore. In fact, I can imagine that would be worse, having a lot of money and still being lonely. So money doesn't fix that. Being |
| 752 | 02:13:24,270 --> 02:13:32,100 | successful as a trader doesn't fix those things. There are outside external things that you have to work out outside of trading, don't come into trading |
| 753 | 02:13:32,280 --> 02:13:42,360 | with trading and profitability fixing them things because it doesn't. It doesn't fix up an abusive relationship. It won't make you able to deal with it better. |
| 754 | 02:13:42,510 --> 02:13:54,990 | If you're in a toxic relationship, get the fuck out of it. Simple, hard, but simple. You don't feel appreciated with who you're with. Right now, you can't do |
| 755 | 02:13:54,990 --> 02:14:04,050 | it. You can't leave him you got to be codependent. That's your circumstance, I get it. Do what you have to do to improve and build yourself up and make it |
| 756 | 02:14:04,050 --> 02:14:13,440 | available for you to be able to leave on your own terms to not need them. And maybe, you know, they could see the errors of their ways. And maybe he could be |
| 757 | 02:14:13,440 --> 02:14:20,940 | forgiving to get back in when you can show them that you don't need to be codependent with them. And they'd be more appreciative or she'll be more |
| 758 | 02:14:20,940 --> 02:14:29,640 | appreciative of you. And maybe they had that same toxic level again, or break free of it, and live with someone that really respects you. That way you can |
| 759 | 02:14:29,640 --> 02:14:45,900 | have a very fruitful life. Really just living. Some of you right now think that you might be living, you just need more money. That might be true. And a |
| 760 | 02:14:45,900 --> 02:14:55,110 | terrible thing might happen where you start making a lot of money and you're comfortable, successful. Personal life is made toxic because of the money. You |
| 761 | 02:14:55,110 --> 02:15:01,530 | don't know what your spouse or your friend that you're in with. terms of relationship is going to feel when you start making lots ammonia may become a |
| 762 | 02:15:01,530 --> 02:15:11,970 | point of the division. These are all things that you don't even know yet. And I'm not trying to create anxiety for you, but what you think you're getting into |
| 763 | 02:15:11,970 --> 02:15:26,970 | this for and how it's going to be, you don't know. But you don't know. So you have to keep all those things in the backseat. Just keep driving forward, keep |
| 764 | 02:15:26,970 --> 02:15:36,960 | your eyes on the windshield, not the rearview mirror, the bigger perspective of the windshield, you got to monitor where you're going, keep the hazards in front |
| 765 | 02:15:36,960 --> 02:15:46,290 | of you identify that leak and navigate into things behind you. That rearview mirror. That's the reason why so small, because they're they're insignificant, |
| 766 | 02:15:46,290 --> 02:15:51,750 | you've already experienced that. You don't have to relive those experiences, |
| 767 | 02:15:51,750 --> 02:16:00,060 | you don't have to go down that road anymore. Once you cross this bridge of going through the process of finding who you are and how you're gonna fuck yourself up |
| 768 | 02:16:00,060 --> 02:16:08,700 | and trading, that's the most important thing. It's not how to get into a trade. It's not what timeframe to trade. It's not what ICT model or what program to |
| 769 | 02:16:08,700 --> 02:16:16,170 | follow or what mentor to follow. It's how you are you, you are going to mess yourself up. How is it that you're going to do it? Because all of us do it? |
| 770 | 02:16:16,710 --> 02:16:24,390 | There has never been a trader that walked out into this industry, and didn't bring some kind of baggage or bullshit that caused them some kind of blown |
| 771 | 02:16:24,390 --> 02:16:36,480 | account, failure. Struggling point, everybody, we're all human. We all bring that stuff into this. And you don't know what it's going to be for you. Some of |
| 772 | 02:16:36,480 --> 02:16:45,720 | you probably do, but you're gonna discover it's more shit than just that. If you're unorganized, impulsive, you're going to know about it, because that's how |
| 773 | 02:16:45,720 --> 02:16:57,810 | your trading is going to be. I don't journal because you're disorganized. I don't know when to take a trade I'm impatient. That means you're not following a |
| 774 | 02:16:57,810 --> 02:17:07,380 | rule based idea. I tell you when the focus on the trades, it's inside of a 60 minute window. It's an obvious formation in price reaching for a pool of |
| 775 | 02:17:07,380 --> 02:17:17,970 | liquidity above or below what are you wrestling with? What timeframe you start with the five minute you can't see it on the five minute drop down to the four |
| 776 | 02:17:18,420 --> 02:17:25,530 | can't see it on the format drop down there three can't see it on a three minute drop down to a two then one if you have access to a second chart dropped down to |
| 777 | 02:17:25,530 --> 02:17:35,640 | a 32nd but anything less than that I wouldn't touch it. You don't have the experience for it or you can see it in a minute don't do anything wait for the |
| 778 | 02:17:35,640 --> 02:17:49,200 | next session. But ICT but shit you're already showing that you can't follow rules. There's your problem. You want every session every day trading I'm not |
| 779 | 02:17:49,200 --> 02:17:57,900 | promising you that not in the beginning I can't because I know you're not going to have the experience and somebody needs to hear this shit and I can't get off |
| 780 | 02:17:57,900 --> 02:18:12,960 | this this live session already am already in the doghouse that muscle or more of it right now, I've covered everything I want to cover tonight. So hopefully you |
| 781 | 02:18:13,020 --> 02:18:20,910 | got something out of this tonight. If you did let me know on Twitter. Give me a heads up say thanks for those bullshit. This is bullshit. I'll meet you. I |
| 782 | 02:18:20,910 --> 02:18:30,240 | promise I won't block you. I'll meet you though. I get tougher to toxicity. But if it was helpful to you appreciate, just let me know. And until I'll talk to |
| 783 | 02:18:30,240 --> 02:18:33,300 | you next time, enjoy your weekend. Be safe |