032-ict-tw-spaces-20230706-When-Starting-Is-Difficult-Or-Intimidating
Last modified by Drunk Monkey on 2023-07-11 12:01
Outline
01:11 - Do you have any questions about the market?
- Hyperbolas doing well. Two boxers.
- Kirlian apologizes for the tardiness.
- His son is trying to overcome the things he was trying to prevent.
- Risk management and self control.
04:45 - You want it to beboring.
- The number one concern is being afraid to get into trading.
- Embrace the uncertainty.
- How to trade, make money and not lose.
- How to never take a loss.
08:41 - Spend the money you earn.
- The number one reason why most people abuse college.
- How cameron makes his kids work.
- How cameron is going about this.
- The proper way of doing it.
- Don't use a lot of stop loss.
- Expectations for the stock market.
17:09 - How to overcome the fear of entering the market?
- How to overcome fear of entering the market.
- How to desensitize yourself.
19:54 - How to deal with the pressure to succeed.
- Gambling, not trying to make it work.
- Mentally fatigued, waiting for the moment.
- Every kid wants to have that moment with their dad.
- Everyone has their own triggers.
23:26 - Proving to others that it’s worth it.
- Trading as a video game.
- Trading in a fortune 500 company.
- The two simple rules of trading.
- The first trade is the best thing.
- Don't let these things be crippling or a source of anxiety.
- One and a half percent risk.
31:41 - One day per week is better than all week.
- How to make $500 in one day.
- How he got hooked on bond trading.
34:44 - How to get into trading.
- The fear of trading in the 90s.
- Trading until fatigued, then pushing the button.
- Overwhelming thoughts that forced him to take on risk.
- How to identify these thoughts.
- The importance of self-control and responsibility in this industry.
- How to be profitable in the industry.
42:39 - You're scared shitless but you're still contemplating it.
- You're scared shitless, but still contemplating it.
- You shouldn't fear their response.
- Trading a video game vs trading real money.
- One and a half percent.
46:16 - The gladiator mentality of being a gladiator.
- Compounding the difficulty of being in a heckler's circle.
- Youtubers are like gladiators.
- Working in a place where he doesn't want to be.
- Taste it, mom.
50:10 - Dealing with stress and not defering.
- Homeschooling is not a thing for you.
- Humble beginning is not an embarrassment.
- Stop inviting social media fuckwads into your career.
- There is no herd mentality.
- Being able to write the check every week.
- Mental scar tissue, mental scar tissue.
56:46 - Start with a low hanging fruit objective.
- All of us have frailties and issues with us.
- Start with a small low-hanging fruit objective.
59:41 - You’re trying to present an outcome that may not be applicable for you.
- Going back to a simple approach.
- Larry williams and his approach to trading.
- Unrealistic expectations and the fear of being acted upon.
- One year minimum is ideal.
- Consistently profitable is not enough.
- The right amount of gain is not necessary.
01:07:13 - How to get out of a losing trade?
- Everyone that ever blows in account is in that state of mind.
- Trading too many trades.
- The one and a half percent maximum.
- High frequency trading. Algorithm.
01:10:56 - Knowing where the market is headed.
- Chop, chop, chop and chop all day long.
- Every trade is a profitable opportunity.
01:13:37 - Don’t put yourself through the pain of failure.
- Finding a needle in the haystack.
- Making money is the end result.
- Cleaning the wounds of ict.
- The wisdom of a student who wants to learn.
01:19:46 - How to get over the fear of trading.
- Five handles is a realistic target in the beginning.
- How to desensitize yourself to trading.
- Think about what you are doing with your demo account right now.
- Have a vision beyond that.
01:22:58 - There was no magic because he came from the fruit of my loins.
- Mental baggage from early mistakes.
- Discipline is not taught. It is forged through pain.
- Taking on more risk and taking on more contracts.
- Trading one contract at a time.
01:28:37 - How to be the best trader you can be.
- How to be the best trader that you can be.
- Unprofitable, unfunded challenges.
01:31:55 - Unrealistic expectations and unrealistic expectations.
- Unrealistic expectations, performance anxiety, rushing and not being organized.
- Slow and steady approach.
01:34:50 - You have to deal with the realities of trading wrong.
- Dealing with the realities of trading wrong.
- How to quit your job in 90 days.
- Why impatience and lack of discipline kill people.
- The importance of discipline and self-control.
01:40:54 - How many contracts should you be trading?
- Trading 3 handles a day instead of 5.
- Trading 50,000 a year.
01:43:40 - Don’t beat yourself up for losing money.
- Don't be beating yourself up if you lose money.
- Everyone has room to make change.
- The importance of having a realistic perspective.
- The three and a half years of trading.
- Trading in London, new york and asian markets.
- Making changes in life.
01:51:28 - Speed bumps are just speed bumps.
- Speed bumps are just speed bumps.
- Remember, no sugarcoating, no problem.
- You are the thing that will make it or break it.
- Your mentality needs to be.
01:54:53 - It’s your skill set for life.
- Your skill set for life and where you want to go.
- Nothing limits you.
- Letting go of fearful thoughts and excuses.
- Get out there and start working towards it.
01:58:50 - How to flip the what if mindset.
- What if is the worst thing you could ever do.
- How to overcome fear.
- Icyp wishes he would have started sooner.
- Nobody makes money in this industry.
- Going back in old moves and forex and futures.
- How to find your model.
02:06:20 - Manage your emotions and be passionate.
- On the fourth time it failed to work.
- The goat is a piece of shit.
- Doing the wrong things online and making it emotional.
- How social media is like a crucible.
02:09:55 - You have to invite emotion into your business.
- How to be a formidable force in the charts first.
- How to guard your mind.
- Why partials are stupid and counterintuitive.
- The importance of rewarding yourself along the way.
Transcription
| 1 | 00:01:11,370 --> 00:01:14,460 | ICT: Well do folks hyperbolas doing well |
| 2 | 00:01:19,920 --> 00:01:34,620 | send the girls out and have two boxers. They ask my wife to help me because Bailey will try to make her way up the steps. Try to get in this room with me. |
| 3 | 00:01:37,530 --> 00:01:51,630 | And he'd be sniffing, or she'd be sniffing around the door rather, trying to get in here with me, and Kirlian pologize for the minute or so, tardiness. But |
| 4 | 00:01:51,630 --> 00:02:07,560 | anyway, I don't think this is gonna go too long. But I was going to do a thread on Twitter was again, just like talking, set pretty much in one place all day to |
| 5 | 00:02:07,560 --> 00:02:20,790 | day working with my son to coach him along, encourage him and try to help him get beyond the concerns that he has. But if you're new to follow me if you're |
| 6 | 00:02:20,790 --> 00:02:35,340 | new to what it is I do and how I teach and what I'm presently working with, I have a son that just graduated homeschool. He's 18, freshly minted as a young |
| 7 | 00:02:35,340 --> 00:02:52,590 | man. And he is trying very hard to overcome the things I was trying to prevent him from forming, when it's many of the things I tell you all, in a very boring |
| 8 | 00:02:52,590 --> 00:03:02,310 | parts of the videos, or the majority of the Twitter spaces, it's like mindset and psychology and things that you don't realize you're going to be impactful. |
| 9 | 00:03:02,730 --> 00:03:15,570 | The things that are going to be detrimental, there's going to be the things that make it or break it for you. And many times we like to think that the the |
| 10 | 00:03:15,570 --> 00:03:26,190 | markets will yield its bounty to us simply because you know, we have a specific indicator or approach to looking at the markets and or we follow somebody that's |
| 11 | 00:03:26,190 --> 00:03:39,210 | really hot at the moment. And then when you step out there, and you're in that arena, and you don't have any real protection except for risk management, and |
| 12 | 00:03:39,210 --> 00:03:59,010 | your self control. My son tried very hard to do what he thought was very equivalent to a video game. Shot again they're trying to do. I found my counters |
| 13 | 00:03:59,010 --> 00:04:14,610 | Correct. Based on what he was using. He tried seven times to pass a top step combine. And he wasn't trying to adhere to any of the things I outlined for him. |
| 14 | 00:04:15,900 --> 00:04:26,460 | What's very frustrating, but yeah, I guess you're gonna you're gonna do these things, especially as young men, you're gonna rush into it, and he wants to be |
| 15 | 00:04:26,460 --> 00:04:40,080 | able to show me that I can do it that much. I'll do it my way in his way didn't work. So we sat down over the weekend. And I told him I said, Listen, are you |
| 16 | 00:04:40,080 --> 00:04:54,570 | ready to really sit down and do this the right way? It's going to be boring. And you want it to be boring. is number one concern was is he's afraid now to push |
| 17 | 00:04:54,840 --> 00:05:03,480 | the button to get in. And I said Well, you're in good company because that's exactly how it was for me. I was very, very scared to get into it. And beginning |
| 18 | 00:05:03,630 --> 00:05:17,760 | in 1992, I had no idea what the hell I was doing. But I was really inspired to learn, but the approaches to learning how to trade and how to time and entry, if |
| 19 | 00:05:17,760 --> 00:05:25,710 | you really look at all the books and manuscripts and things that were taught back then they really just glossed over it. It was very vague. I mean, they |
| 20 | 00:05:25,710 --> 00:05:35,520 | might show you things in a book. But this is, this is what it looks like. But that's the benefit of hindsight, it's very difficult to try to communicate that |
| 21 | 00:05:37,860 --> 00:05:52,080 | in a static picture. And that's why it's important for you, as a student to tape read, and watch pricing and get a, get a feel for what it's doing. When you feel |
| 22 | 00:05:52,080 --> 00:05:59,490 | this function and knew that it's going to move higher, it's gonna move lower, and then you watch it sit still for another 20 minutes before, it does the |
| 23 | 00:05:59,490 --> 00:06:09,780 | opposite what you expected. That's a learning experience, it's easy to think that you've learned something from me or someone else, or use some kind of |
| 24 | 00:06:10,920 --> 00:06:25,290 | automated, you know, I don't know what you would call it, something that would be non discretionary. And it still doesn't take away that hard right edge, that |
| 25 | 00:06:25,290 --> 00:06:39,360 | void, that abyss that we look into, on the right side of the chart that hasn't printed yet. See what divides the success stories from the failures is the |
| 26 | 00:06:39,360 --> 00:06:55,260 | comfort of embracing the uncertainty. And in the beginning, I was trying very hard to know everything, and always know when I avoid taking a loss. So I know |
| 27 | 00:06:55,260 --> 00:07:07,770 | what it's like for you, as my students to want to ask me in a lot of different varying ways, but really, the blunt question you want to know is how can I trade |
| 28 | 00:07:07,800 --> 00:07:17,640 | make money and not lose? And as most as you may want to argue and say, No, that's not how I think, or that's not what I'm asking, you are asking that. |
| 29 | 00:07:18,060 --> 00:07:27,690 | That's exactly what everybody wants that I would be lying if I said I didn't want it. So don't, don't lie to me, okay, don't lie to me, because I know, I |
| 30 | 00:07:27,690 --> 00:07:40,680 | would love to know how to never take a loss, I would love that know that. But you have to be comfortable with choosing these conditions that are more apt to |
| 31 | 00:07:40,680 --> 00:07:50,610 | be correct for your model, and your personal approach to trading. And that means you're going to have to submit to the idea that your model with those parameters |
| 32 | 00:07:50,610 --> 00:07:59,130 | and filters in place, may not, or may not present the opportunity for you today or that trading session. And it doesn't mean it's a bad model doesn't mean |
| 33 | 00:07:59,130 --> 00:08:08,760 | you're a bad trader doesn't mean anything, except for your waiting for your model. And all the things and circumstances that go around trusting that setup |
| 34 | 00:08:08,790 --> 00:08:22,470 | with that model with you as the driver, the operator in that system. So naturally, as a young man, you know, he, I thought he was paying for these top |
| 35 | 00:08:22,470 --> 00:08:32,340 | step funded account challenges on his own, but he wasn't it was actually his older brother Caleb, that was allowing him to purchase them, but he was the one |
| 36 | 00:08:32,340 --> 00:08:46,020 | that was doing it. So that's how I said you're gonna do in the future, anything that you do, you do it on your own. In your you have a job. And that money that |
| 37 | 00:08:46,020 --> 00:08:57,540 | you earn, you spend that because then you're going to care more about it. If you don't, if you don't put anything into it, you're not going to have that same |
| 38 | 00:08:57,540 --> 00:09:07,620 | level of concern about whether or not you're going to succeed or not. And I think that's the number one reason why most people that go to college in their |
| 39 | 00:09:07,620 --> 00:09:17,460 | parents pay for their college for them. They abuse it, they don't really take full advantage of what's been given to him. Because it's, you know, it's a |
| 40 | 00:09:17,460 --> 00:09:26,850 | silver spoon gift. And I have friends I grew up with that were like that. And they never amounted to anything that they went to school for, and they don't |
| 41 | 00:09:26,850 --> 00:09:35,580 | live well. So I'm not saying that's the the end result of that circumstance for those individuals that have that, but I'm not surprised when it ends up that |
| 42 | 00:09:35,580 --> 00:09:49,050 | way. So I make my children work, because I want them to know what it's like to have a master. Someone that tells them you can and can't. This is how much |
| 43 | 00:09:49,050 --> 00:09:54,420 | you'll get. If you do what I tell you to do. If you don't do what I tell you to do, you will be reprimanded. You want to take a vacation, it'll have to be |
| 44 | 00:09:54,420 --> 00:10:04,830 | approved first and work with people that they don't like and and develop these tendencies to want to impress them, even though they don't like them. It's |
| 45 | 00:10:04,830 --> 00:10:17,010 | really crucial to have that because once you do it, and you grow a disdain for it, it will be the motivating factor to keep your ass in the charts. So that way |
| 46 | 00:10:17,010 --> 00:10:26,730 | you don't stay there. And be very easy for me to say here, Cameron, here's a million dollars, here, I'm gonna go out here and get you a house, you already |
| 47 | 00:10:26,730 --> 00:10:36,450 | got a car, I'm gonna give you some money in an account to live off offset, we don't feel a rush to get in here and trade. But he's not equipped. He's not |
| 48 | 00:10:36,450 --> 00:10:37,470 | equipped to do anything with that. |
| 49 | 00:10:39,420 --> 00:10:51,990 | I've tried to do those things early on, with my older kids, and it doesn't work. It doesn't work. It's the equivalent of here, honey, I'm Daddy, I'm gonna pay |
| 50 | 00:10:51,990 --> 00:11:02,370 | for your college, impress daddy. Now, they're going to be kids, they're going to be reckless. And they're going to do things half assed, and they're not going to |
| 51 | 00:11:02,370 --> 00:11:11,610 | care because they know Daddy's gonna take care of them. So the only way I could kind of like, cancel that whole mindset. And I'm probably not going to be |
| 52 | 00:11:11,610 --> 00:11:22,290 | successful on all my kids with this. Okay, but that at least, is what I'm trying to do. And because I don't have a book, or someone that's come before me in this |
| 53 | 00:11:22,290 --> 00:11:33,180 | way, and it works for them or didn't work for him. It's just, it was a brainchild that I came up with. And this is what it is. But making them work is |
| 54 | 00:11:33,180 --> 00:11:41,850 | not a bad thing. It's something good all of us had to do, I had to do it. I had to work, you know, multiple jobs. Some of you might have multiple jobs right |
| 55 | 00:11:41,850 --> 00:11:48,840 | now, too. And you're trying to learn how to do this. And it's hard. It's really, really hard. It's hard to stay motivated. Because you're in debt, and you're |
| 56 | 00:11:48,990 --> 00:11:58,320 | trying to keep up with the bills that you're accumulating, and everything's more expensive. See, he's protecting it in a way that maybe you as an adult with |
| 57 | 00:11:58,350 --> 00:12:08,940 | maybe siblings, and siblings with children did you have to take care of, maybe you have a one income, family, and you're supporting all that stuff. And they |
| 58 | 00:12:08,940 --> 00:12:18,120 | expect you when you come home from work to give them your undivided attention. But here you are listening to me and watching videos by me and you're trying to |
| 59 | 00:12:18,120 --> 00:12:29,220 | look at charts and stuff. And they're looking at you like, you know, why are you doing this? I get it, I had to do the whole thing too. But it's hard to keep the |
| 60 | 00:12:29,220 --> 00:12:42,840 | real life from pressing in and overtaking your pursuits. It's easy for it to be trampled down. If you allow other people, your loved ones, your family members, |
| 61 | 00:12:43,350 --> 00:12:52,800 | to prevent you from putting in the time that's necessary to do this just makes it harder than it has to be. So I don't have all the answers for all that stuff. |
| 62 | 00:12:52,830 --> 00:13:08,550 | So I want to talk to you today about how my son Cameron is going about going through this, my mind the proper way of doing it. I am met with these teenage |
| 63 | 00:13:09,300 --> 00:13:21,930 | antics still, you know, he wants he wants to know the easiest short path to it. And I told him, I said no, what you're really feeling now is because you tried |
| 64 | 00:13:21,930 --> 00:13:30,510 | to do this on your own without using anything I taught. You weren't willing to sit down and watch the videos, you weren't willing to do this practice of this |
| 65 | 00:13:30,510 --> 00:13:38,460 | looking at pricing don't do anything, you were in a hurry to push the button. So this is exactly what I teach all of you. Don't be in a hurry to go out there and |
| 66 | 00:13:38,460 --> 00:13:45,990 | try to make money because you're gonna be doing so by pushing the button with ignorance, you're not going to know what you're doing. So what you're going to |
| 67 | 00:13:45,990 --> 00:13:53,790 | be teaching yourself and conditioning yourself is that because you know nothing, and you have no experience to lean on. When you're pressing the button, you're |
| 68 | 00:13:53,820 --> 00:14:02,730 | you're the equivalent of going to casinos and gambling, where there's no way of knowing the outcome. There's no probability, there's no statistical edge there. |
| 69 | 00:14:02,910 --> 00:14:16,380 | It's pure gambling. And you're hoping for some kind of a lottery win, to inspire you to do it the right way, when that wouldn't happen anyway. Because if you |
| 70 | 00:14:16,380 --> 00:14:24,240 | were to make money doing something on a whim, you're gonna think that you're just lucky. So why bother going through all those videos and go into the process |
| 71 | 00:14:24,240 --> 00:14:33,090 | of back testing and journaling? Who needs all that stuff, all I got to do is get lucky once in a while. overleveraged don't use a lot of stop loss. And that's |
| 72 | 00:14:33,090 --> 00:14:43,050 | what he did. And he would blow it and go right in there and reset it again, reset it again, reset it again. Seven times. And then finally, he got to the |
| 73 | 00:14:43,050 --> 00:14:54,900 | point where he just didn't want to do it anymore. And quietness walking around the house not trying to say anything to me. At all, like I said, I'm not going |
| 74 | 00:14:54,900 --> 00:15:06,450 | to bring him up. But I want to see how long it'll go without saying anything about it. It wasn't until his girlfriend mentioned it. And I was like, okay, the |
| 75 | 00:15:06,450 --> 00:15:16,260 | ice is broken. Now, what are we going to do with this, because clearly, where you're working, that isn't going to cut it, I don't think it's appropriate for |
| 76 | 00:15:16,260 --> 00:15:25,230 | you to have that type of mindset where what you're doing is normal for a teenager, while you're in school, he was homeschooled, you know, you go to a |
| 77 | 00:15:25,230 --> 00:15:34,770 | coffee shop, and you're working there, you're making 400 hours a week, wonderful 14 hours a week for, you know, a 17 year old, you know, spending money, I make |
| 78 | 00:15:34,770 --> 00:15:43,410 | him pay the car insurance for his car, and he buys his own gas. If he goes out entertains his girlfriend, he must do that out of his own pocket. Everything |
| 79 | 00:15:43,410 --> 00:15:55,620 | else, I closed them, I make sure everything that he needs as a member of our family, he has his disposal. But I make him work for the things that he has to |
| 80 | 00:15:55,620 --> 00:16:05,010 | spend for. So I'm not going to put money in his pocket to be a sugar daddy to his girlfriend. So all these things are meant to inspire him to be independent, |
| 81 | 00:16:05,460 --> 00:16:17,220 | you know that, that necessity for him to he has to make it on his own? Well, he sat down with me today, and we were looking at the markets. And I explained to |
| 82 | 00:16:17,220 --> 00:16:24,600 | my son, you were on the heels of the holiday. So the expectation is going to be rather light don't don't expect a whole lot of things that make a lot of sense. |
| 83 | 00:16:25,590 --> 00:16:36,570 | And he's like, Well, I don't know, really what I'm looking for anyway, I said, Well, we're watching price. And I want you to tell me when you think it's gonna |
| 84 | 00:16:36,570 --> 00:16:48,480 | go higher? Or do you think is gonna go lower? And I want you to push the button right in front of me. I don't want you to second guess it. I want you to hit in |
| 85 | 00:16:48,480 --> 00:16:57,030 | your mind know what it is that you think you expect, not that you believe it's going to happen, you're not going to be right or wrong. It's what you feel the |
| 86 | 00:16:57,030 --> 00:17:07,560 | impulsiveness inside you what, what is telling you, it's gonna go higher, or what's gonna go lower. Soon as you push the button, and you put a stoploss in |
| 87 | 00:17:07,560 --> 00:17:17,610 | there, I want to know where you think it's going. And explain to me why you just did that. And we did this this morning, all throughout the lunch hour and into |
| 88 | 00:17:17,610 --> 00:17:28,770 | the afternoon. And a couple of the things that he did, you know, obviously were way off, they there was no reason for him to have done it. But I'm teaching him |
| 89 | 00:17:29,010 --> 00:17:39,810 | how to overcome fear of entering because he's afraid to do that. Now sitting next to me. With me next to him, you know, he didn't seem to have all that much |
| 90 | 00:17:40,470 --> 00:17:47,880 | of a uncertainty. He just, you know, he was looking at it, like it's a video game, like I'm watching him play video game because he could just re up his |
| 91 | 00:17:47,880 --> 00:17:58,320 | mind. That's the mentality he had, you know, I got dad next to me. If anything happens, I can do whatever I got to do to fix it. And I did it twice today. But |
| 92 | 00:17:58,320 --> 00:18:15,570 | his first trade, he got out and he went in he went long. And he got $244 in the equivalent of you know, the movement. Assets. And I said I think about this. If |
| 93 | 00:18:17,430 --> 00:18:31,590 | you make 400 hours a week average after taxes, work in your job. That's not a lot of money. But you just did $244 in one trade in less than five minutes. But |
| 94 | 00:18:31,590 --> 00:18:44,970 | you have to work all week and then wait till the following pay period to get that same 400 Our net pay. Which one makes sense? Because one way I could do |
| 95 | 00:18:44,970 --> 00:18:57,900 | this just once a day. I said that's the right mindset. Now, did you get five points in that move? No. Did you go into that move with? I had to get a big |
| 96 | 00:18:57,900 --> 00:19:10,020 | gigantic run for the whole day. No. You went in and you were looking for movement. You're expecting volatility. So the way you overcome the fear of |
| 97 | 00:19:10,020 --> 00:19:19,530 | getting into the marketplace is you have to number one, desensitize yourself. That's the only thing I had to do for myself was I had to go in and press the |
| 98 | 00:19:19,530 --> 00:19:28,140 | button. I simply had to do it. And I did it with live money, which is the worst thing in the world to do because I didn't know if I was gonna be right or wrong. |
| 99 | 00:19:28,170 --> 00:19:39,270 | And I was gambling with money. I didn't I couldn't afford it. Like I was borrowing against a credit card. Yeah, my bad. So I was a cowboy when I first |
| 100 | 00:19:39,270 --> 00:19:54,660 | started undercapitalized goober that had no idea what I was dealing and trading with cash advances on credit cards. So that's the epitome of a noob. So trust |
| 101 | 00:19:54,660 --> 00:20:02,310 | me, I've been there. I know. I know what some of the silly stuff you guys have done. Taking cheap isn't trying to do what you got to do to make it work. But |
| 102 | 00:20:02,310 --> 00:20:14,670 | then when you look back, you really didn't do all the best in terms of trying to make it work, you were simply gambling. So I told him, I said, I don't want you |
| 103 | 00:20:15,930 --> 00:20:21,000 | to walk away from the charts. I want you to be here until fatigue sets in. |
| 104 | 00:20:22,770 --> 00:20:32,880 | I want you to feel that, I want you to be uncomfortable. And I still want you to tell me why you're pushing the button. Why do you think it's going up? Why do |
| 105 | 00:20:32,880 --> 00:20:42,330 | you think it's going to go down? He had the classic scenario where he tried to buy it several different times a day. And there was no fair value got there. |
| 106 | 00:20:43,080 --> 00:20:54,630 | There was no no reason for it to go up there. And he still would just push the button. And then we got into the lunch hour. And I could tell he was mentally |
| 107 | 00:20:54,630 --> 00:21:04,290 | fatigued. He's like, I don't know what to expect out. So I'm just going to push the button and see what happens. I said, that's what I've been waiting for. That |
| 108 | 00:21:04,290 --> 00:21:16,680 | moment, that moment right there. That's what blew every single combine that you tried to do. That moment, I want you to know what that feels like. Because what |
| 109 | 00:21:16,680 --> 00:21:29,460 | you're trying to do, right before you do that execution, that's your root problem. That's the thing that's going to keep popping up in your head, that's |
| 110 | 00:21:29,460 --> 00:21:43,830 | going to cause you do that same impulsive tendency to push a button to find out. I want to do it right. And then you say, good job. Okay. That's normal. Every |
| 111 | 00:21:43,830 --> 00:21:55,350 | kid wants to have that, that moment with their dad. But really, what are you trying to do? Because I want to be right, because I did a terrible job of trying |
| 112 | 00:21:55,350 --> 00:22:03,990 | to do it before. And now you're watching me, like you're sitting right next to me where I didn't do that last time that I was doing in my privacy, my own |
| 113 | 00:22:03,990 --> 00:22:14,490 | bedroom, I'm pushing the button, and nobody's watching it. So it didn't feel embarrassing, I was mad. Okay, that's normal. That's absolutely normal. But you |
| 114 | 00:22:14,490 --> 00:22:25,800 | have to understand that these things that you're feeling are going to be very influential in terms of what you do going forward. Because let's say we get you |
| 115 | 00:22:25,800 --> 00:22:38,550 | to the point where you can trade and that doesn't mean next to you. What are you going to do to unravel yourself, it's going to be these things. So you have to |
| 116 | 00:22:38,580 --> 00:22:57,090 | view them as well snares the traps, okay. And there's no shame in identifying what they are, and what they're triggering. But, you know, bases, or foundations |
| 117 | 00:22:57,090 --> 00:23:09,060 | are rooted on. That's the thing that you need to be aware of. Everybody has them. Every everyone has them. Some of you listening right now, it might be the |
| 118 | 00:23:09,060 --> 00:23:17,790 | fact that you don't have a partner or spouse that's supportive of what you're doing. And you simply just want to make money that prove it and shove it down |
| 119 | 00:23:17,790 --> 00:23:24,060 | their throat and say, See, this is the reason why I got a look at all these charts and listen to goober go on and on and listen to his rants, because this |
| 120 | 00:23:24,270 --> 00:23:34,020 | will work. If I did submit to it. That's why you're doing it. You're you're trying to prove to them in an expedient manner, that it's worth your time doing |
| 121 | 00:23:34,020 --> 00:23:40,440 | it, when they don't think it's worth their time waiting around for you to figure out whether or not you can do it or not, when they've already had it in their |
| 122 | 00:23:40,440 --> 00:23:53,040 | mind that you're going to be successful at it. So I understand have a balance, all that stuff is very difficult. But he does my son. He's got youth on his |
| 123 | 00:23:53,040 --> 00:24:02,970 | side, he has time on the side. But because of video game playing, and the tendency to play these games, and when you get killed in the game, oh, well, |
| 124 | 00:24:02,970 --> 00:24:10,770 | there's no time and no, no real loss, and we just respond and there it is, or I gotta wait the time limit for the time for the game to conclude in a new game of |
| 125 | 00:24:10,770 --> 00:24:19,740 | startup. So that's the mindset that he has. And that, to me is why I think viewing trading as a video game is the stupidest fucking idea anybody could ever |
| 126 | 00:24:20,010 --> 00:24:30,000 | employ. Because it tricks you into thinking, Well, you know, I'll get those respond. You can do that when you're doing Market Replay. You can do that when |
| 127 | 00:24:30,000 --> 00:24:38,040 | you're demonstrating. But when you're trying to do something like a combine if it's a funded account approach that you're going, or if you're trying to trade |
| 128 | 00:24:38,040 --> 00:24:48,330 | with real money, whether it be a lot of money or a little bit of money. Those rules don't apply. You have to treat this like a business when you go to work. |
| 129 | 00:24:49,560 --> 00:24:57,270 | Okay, when you go to work today, let the employees that you work among do whatever the hell they want to do. Now maybe at McDonald's, they might do that |
| 130 | 00:24:57,270 --> 00:25:06,210 | shit, but being doing it generally and In a fortune 500 company, and there's some structure that there's some limits and imbalances as to how far you can |
| 131 | 00:25:06,300 --> 00:25:18,330 | misbehave or, or waste time or be inefficient. And you are the boss, you're the CEO, you are the human resource manager, you're in charge of everything have you |
| 132 | 00:25:18,330 --> 00:25:30,360 | incorporated. So you have to have all of these hats. As a trader, you're the analyst, you're the trader, and you are the person that is in charge of where |
| 133 | 00:25:30,360 --> 00:25:45,630 | you're going. You're, you're it, you're at the helm, you're the captain, and you either sink or sail based on what you and your decisions result in. So if you go |
| 134 | 00:25:45,630 --> 00:25:54,150 | into with a Mickey Mouse approach that, hey, you know, let's see what happens. You know, they say F around and find out, the longer you f around, you're gonna |
| 135 | 00:25:54,150 --> 00:26:04,200 | eventually find out. And he found out rather quickly, that he couldn't do what he thought it was, Oh, it's a video game. It's just, it's a video game. It's |
| 136 | 00:26:04,200 --> 00:26:11,250 | just like, oh, it's like that game that sneaking. Because I used the analogy before Slither. Io, I think it's what it is, or something like that, or snake |
| 137 | 00:26:11,250 --> 00:26:20,790 | IO. Where there's little sneaky start out with you go around and get these little dots, some dots are bigger, some are smaller. And as you eat these things |
| 138 | 00:26:20,820 --> 00:26:30,930 | on the game, your your body is a snake grows larger, and you're not allowed to touch another snake. Or you can't touch their body, but you can make them run |
| 139 | 00:26:30,930 --> 00:26:39,900 | into yours, and then they disintegrate and you can eat them. Or you can't run into a wall or you die. So there's two simple rules there. The larger you get, |
| 140 | 00:26:40,950 --> 00:26:49,560 | the harder it gets. That's the same thing with trading, the things that you can do with a very small account, you can be very nimble with a very small count |
| 141 | 00:26:49,770 --> 00:26:59,760 | less than 50,000, less than 100,000, you can do a whole lot of stuff, when an account like that. When you start trading with $50 million in higher, you just |
| 142 | 00:26:59,760 --> 00:27:09,720 | can't do those types of things, you got to be a lot more reserved in what you're trying to do. And you got to be more aware of what you're trying to protect. In |
| 143 | 00:27:09,720 --> 00:27:20,940 | the beginning. It's a little bit of money. It's Oh, well, you know, 2% Ain't that much. It's not that much. So I sat down with him today, I said, Listen, one |
| 144 | 00:27:20,940 --> 00:27:30,360 | of the best things you can do is appreciate the fact that your first trade, whether you were right or wrong about the reason why I didn't I don't care about |
| 145 | 00:27:30,360 --> 00:27:43,020 | that. The fact that you saw and you identify that $244 is more than half of your net, bring home pay per week at your job. So I want you to think about that when |
| 146 | 00:27:43,020 --> 00:27:55,860 | you go to work. And you're looking around at the people that irritate you, the people that aren't doing as much as you are. You choose to be there because you |
| 147 | 00:27:55,860 --> 00:28:04,770 | haven't done the work. And I reminded him all the times when he was younger, I said, Those videos are there. You watch them. And when you have questions, I |
| 148 | 00:28:04,770 --> 00:28:15,450 | will sit down with you. Nope, video games is the only thing is interested in sports. So I waited around. When he became age of age where he can work, I'm |
| 149 | 00:28:15,450 --> 00:28:26,190 | making a meeting, get a job. He's had a job since he was legally allowed to do so. And now, because he has a girlfriend, because she's going away to college, |
| 150 | 00:28:26,730 --> 00:28:41,010 | she won't be here after August. So he'll have to wait for her to come home. She wants to be a veterinarian. And here he is working the typical teenager job and |
| 151 | 00:28:41,010 --> 00:28:50,280 | he feels even more pressure on what he did not do correctly. So he has all those things swirling in his head. What happens when she comes home, and he hasn't |
| 152 | 00:28:50,280 --> 00:29:00,780 | made any progress. I said, That's good that you think that but don't let these things be crippling, or a source of anxiety. because that in itself will cause |
| 153 | 00:29:00,780 --> 00:29:11,280 | you to do things impulsively. If you don't spend the right amount of time, while she's going away, to pursue her professional career. Whether or not she makes it |
| 154 | 00:29:11,280 --> 00:29:19,080 | or not is irrelevant. She may get out there and decide doing the right profession for her. Or she may get up and say The hell with this, I ain't doing |
| 155 | 00:29:19,080 --> 00:29:28,500 | it. I'll just work a regular job. That's her decision. But you can't allow those things just like you listening can't allow the pressures and stresses of your |
| 156 | 00:29:28,500 --> 00:29:39,420 | job. Or maybe you got fired. Maybe you've been made redundant and you don't have a job right now and you're between gainful employment. And that's stressful. In |
| 157 | 00:29:39,420 --> 00:29:48,930 | that event. You shouldn't be trying to trade. Just practice because you're not going to do the right things in that in that state of mind. Because you're gonna |
| 158 | 00:29:48,930 --> 00:29:57,510 | try to do anything you can to make yourself feel better about the situation you're in and just feel like oh, man, I worry about all this I can make $1,000 |
| 159 | 00:29:57,510 --> 00:30:05,550 | in one day trading over leveraging when our stop loss and just Get Lucky gambling. You won't say it that way. But that will be the reality of it if |
| 160 | 00:30:05,550 --> 00:30:09,540 | you're right, if you're correct about trading in those conditions. |
| 161 | 00:30:11,009 --> 00:30:20,489 | So when I sat down with him today and told him, I said, Listen, we're going to think about how a $50,000 account, I know you said, you were going for that |
| 162 | 00:30:20,519 --> 00:30:28,679 | $150,000 account. Okay, and you were trying to prove the dad and you were gonna go on the internet and piss all over my trolls. And like, you have to defend me |
| 163 | 00:30:28,679 --> 00:30:39,629 | which you don't. I want you to think about a $50,000 account. And I want you to think about one and a half percent risk of that that's the highest you can ever |
| 164 | 00:30:39,629 --> 00:30:52,829 | go. You can never go above one and a half percent. Now, if you go out, look at these funded accounts. It's they allow you more than that. Not by much. I think |
| 165 | 00:30:52,829 --> 00:31:02,129 | it's like 2%. But I told him, You are not allowed to go over one and a half percent. Because if you go over one and a half percent, you failed. In my eyes |
| 166 | 00:31:02,129 --> 00:31:14,009 | on your dad, I'm telling you, you fucking failed, not just a messed up, you fucking failed. You took that one, you did it yourself. You chose to fail. It |
| 167 | 00:31:14,009 --> 00:31:24,329 | didn't happen to you. You chose it. The reason why he was blowing it, trying to do the 150,000 because he was trying to trade with the maximum amount of |
| 168 | 00:31:24,329 --> 00:31:37,769 | contracts. Just because they're offering it to you, doesn't mean you should do it. So I sat with him today. And I said, Look, I want you to think about what 1% |
| 169 | 00:31:37,949 --> 00:31:53,429 | looks like on a $50,000 account. That's still more than you make all week long. What happens if you sit down and you make that in one day? How would that make |
| 170 | 00:31:53,429 --> 00:32:04,859 | you feel? Just one day? Yeah, one day, I said one day, what does that make you feel like? He's Oh, I would want more than that. I said why? You're not making |
| 171 | 00:32:04,859 --> 00:32:18,929 | that right now. You work all week long. Around these in so insufferable people that come to the location where he works at and where I work where I live at. |
| 172 | 00:32:20,969 --> 00:32:31,889 | There's this snootiness, okay. They everybody thinks they're better than everybody up here. It's believe me. It's ridiculous. Like it's nonsensical the |
| 173 | 00:32:31,889 --> 00:32:43,739 | way they all act up here. And if you go into a place of service, and a person's waiting on you, if you're going in there to and you're patronizing a place like |
| 174 | 00:32:43,829 --> 00:32:54,689 | where my son works at, he works at a coffee shop, it's a Starbucks. And it's unbelievable hearing some of the stories he comes home, if you're going to have |
| 175 | 00:32:54,689 --> 00:33:10,829 | his dinner, it's crazy here, these entitlement minded people, and they come in, they talk to you like you know, you're less than human. That $500 If you can |
| 176 | 00:33:10,829 --> 00:33:24,629 | make that one day per week, you've replaced the whole need to go to that place, and you're not even pushing it hard. You're not even pushing it hard. You're not |
| 177 | 00:33:24,629 --> 00:33:38,399 | pushing hard to break the account. You're not pushing hard to feel like you got to keep up with some level of measurement. Somebody on the internet's doing this |
| 178 | 00:33:38,399 --> 00:33:48,749 | much, I got to do that. You don't have to look at my videos, when I'm trading all those news contracts and building up a large position. You didn't get to do |
| 179 | 00:33:48,749 --> 00:34:02,549 | $12,000. You can do 16 and 20,000 30,000. Our days, you don't need to do those. You can get to those. But you have to grow into making 200 hours. Insane, okay. |
| 180 | 00:34:02,909 --> 00:34:15,629 | 200 bucks. That's your whole week in half right there with one transaction. That's how I got hooked on this. In the 90s. I got hooked on that. Because my |
| 181 | 00:34:15,629 --> 00:34:32,309 | pay was less than 300 hours a week, bring home. And I was thinking myself, man. If I could just do one bond trade per week, and just get half of a point. If I |
| 182 | 00:34:32,309 --> 00:34:45,689 | could just get lucky enough to find 16 ticks 16 ticks on one contract in the bond market. That's 500 bucks. That's better than going to work. And once I do |
| 183 | 00:34:45,689 --> 00:34:53,819 | it, I don't have to do it again because I'm scared to trade. Right. Well, that was my that was my whole approach going in easing into it. And I sat down with |
| 184 | 00:34:53,819 --> 00:35:06,419 | him I explain this whole thing to him today. I said I was afraid to get into it when I was in the 90s I mean, it was exciting, but still scary. Like, I don't |
| 185 | 00:35:06,419 --> 00:35:14,129 | ride roller coasters, I think they're thrilling to watch other people go nuts and throw their guts up and scream, and you probably blow out a, an intestine |
| 186 | 00:35:14,879 --> 00:35:24,119 | gutturals new changes that go down the deepest part of that decline. But I would never get on these things, I don't like them, I have to be in control, I have to |
| 187 | 00:35:24,119 --> 00:35:34,499 | be in control of me, the environment that I'm in. And that is not something I would do. And I don't want to treat my trading like that. So I have to be very |
| 188 | 00:35:34,499 --> 00:35:43,889 | methodical about what it is I'm looking for. And when I teach you as my students, I teach that same approach. We're not gambling. We're not inviting |
| 189 | 00:35:44,039 --> 00:35:57,689 | happenstance. Okay, so I told my son, you're gonna trade until you get fatigued. And then as soon as you are like, you just don't know why you're doing it, you |
| 190 | 00:35:57,689 --> 00:36:05,579 | just push the button to find out. Okay, what happens? That moment, you know, that's what I was waiting for. And I explained to him, I said, that's where |
| 191 | 00:36:05,579 --> 00:36:17,429 | everybody blows it. Everybody blows at that moment. It's because you have either hurt your account, someone has hurt your feelings, or made you angry, or you're |
| 192 | 00:36:17,429 --> 00:36:29,999 | sick, or something cost you money that was unexpected. You are using that moment to replace some kind of negative thing that you're going through, or maybe not |
| 193 | 00:36:30,029 --> 00:36:38,009 | even experiencing it yet. But you're afraid of it. You're afraid if something happens, it's looming in the offing. You know, what happens if my girlfriend |
| 194 | 00:36:38,039 --> 00:36:48,359 | what happens if my wife what happens if my husband leaves me? Well, I won't feel so bad. If I can make $1,000 Today, when really, you'll still hurt because you |
| 195 | 00:36:48,389 --> 00:36:58,589 | have emotional commitment to that. Whatever that thing might be, it might make my name be a relationship, it might be some kind of a I don't even know it could |
| 196 | 00:36:58,589 --> 00:37:08,069 | be a number of things. But a word of thinking scenario of something negative, something harmful, that may happen to you could be a very triggering thing for |
| 197 | 00:37:08,069 --> 00:37:18,389 | you to get into a trade that has no real sound reason to be in it. And you're looking at it with the expectation if it pays out. This is a better use of my |
| 198 | 00:37:18,389 --> 00:37:26,699 | time than sitting around worrying about something that may or may not even happen. And I have done that. And I have blown accounts, and a 20 year old |
| 199 | 00:37:26,699 --> 00:37:38,999 | mindset. I was fearful of a lot of things that never fucking happened. I had so many unrealistic fears. What if this happens? What if that happens? What if this |
| 200 | 00:37:38,999 --> 00:37:51,479 | happens, and none of it ever happened? It never happened. But they were so overwhelming to me at the time, that it forced me to take on trades and take on |
| 201 | 00:37:51,479 --> 00:38:02,219 | risk hoping that if I got paid out correctly on the other side of that trade, at least, it was better than me sitting there twiddling my thumbs in fear of what |
| 202 | 00:38:02,219 --> 00:38:14,519 | may not or may come. The uncertainty of what I'm thinking is paralyzing. But when it's not paralyzing, it's the instigation that take you into gambling |
| 203 | 00:38:14,519 --> 00:38:25,409 | environment. Think about it. I promise you, if you do some serious soul searching, you go back to those times where you blew your accounts, where you've |
| 204 | 00:38:25,409 --> 00:38:36,809 | done serious damage and drawdown in your accounts. You've probably many times been been in that same circumstance, and not even realized it. And the only way |
| 205 | 00:38:36,809 --> 00:38:48,929 | I identified it is because I was journaling it. And these same circumstances kept coming up when I blew the account. These things were there. So they may at |
| 206 | 00:38:48,929 --> 00:38:59,039 | the time, they don't feel like they're all that impactful. They're not the real problem. When they are you're just trying to push them to the side. You're |
| 207 | 00:38:59,039 --> 00:39:07,889 | you're letting them be the guy. You know, when you're out there, your friends and stuff like hey, yeah, and someone looks at you funny. And your drunk friend |
| 208 | 00:39:07,889 --> 00:39:16,829 | says, oh, yo, this guy's giving you the arm and you don't let him do that. It's nothing. It's no big deal. And you look over it and he's just, you know, |
| 209 | 00:39:16,829 --> 00:39:24,689 | whatever. And then your buddy says, Hey, keep that shit up. My balls gonna beat your ass. Well, what does this happen? You weren't trying to do nothing. You're |
| 210 | 00:39:24,689 --> 00:39:32,249 | just out there having a good time. But you're drunk, buddy Carl, fucking open his mouth up. Now you're in a fight. You got to defend yourself when there was |
| 211 | 00:39:32,249 --> 00:39:40,259 | really nothing there. There's no real static there. That's what these types of thoughts will do for you. They'll put you in circumstances that you really |
| 212 | 00:39:40,499 --> 00:39:43,589 | aren't comfortable in. But because |
| 213 | 00:39:44,910 --> 00:39:55,440 | I don't hand you push the button. Because sitting still not doing something when you're not disciplined. When you have self control, which is something that you |
| 214 | 00:39:55,440 --> 00:40:05,010 | have to wrestle and form and forge over time nobody will walks out in this industry and has self confidence, self control, and responsibility in the |
| 215 | 00:40:05,010 --> 00:40:13,890 | beginning is there those tears characteristics and these traits are developed over time, losing money, making money, losing money, making money, learning what |
| 216 | 00:40:13,890 --> 00:40:25,830 | you're doing wrong. Trimming all that stuff that is problematic that this is not a hard business to be profitable in. But it's a hard business to be organized, |
| 217 | 00:40:26,100 --> 00:40:35,880 | and disciplined in. Because there's so many things that could take you right out of consistently profitable and Reki right away. Because it's you as a person, |
| 218 | 00:40:35,880 --> 00:40:44,490 | you're a human being you have emotions, you have psychological weights placed on you because of relationships inside this industry and outside this industry. And |
| 219 | 00:40:44,490 --> 00:40:55,260 | the more people you allow, in your circle of influence, be it social media, your family members, your co workers, the more you allow that in, the more likely |
| 220 | 00:40:55,260 --> 00:41:10,110 | you're going to be placed in pressured circumstances to perform when there's no need to. There's no need to. But when you step out there in social media, and |
| 221 | 00:41:10,110 --> 00:41:19,080 | you have other people telling you what you should and shouldn't do, you get these people that have no real control over your life. If you do it wrong, |
| 222 | 00:41:19,110 --> 00:41:29,040 | they're not going to pay you to make your ends meet because they wanted you to do something like it's a UFC fight, or it's a sporting event you perform for me, |
| 223 | 00:41:29,700 --> 00:41:39,660 | fuck you go watch somebody else do that shit. You don't need to do those things for those people. You're running a business. There's a seat, there's a CEO of |
| 224 | 00:41:39,660 --> 00:41:49,980 | Netflix, go out and go on and talk to me, Hey, what should I do today? They're not doing that. Believe me, trust me, look at what they've done. They don't do |
| 225 | 00:41:49,980 --> 00:41:58,230 | that. Okay, they make their own policies and right or wrong, they're going with it. But they're not, they're not letting even their customer base, tell them how |
| 226 | 00:41:58,230 --> 00:42:11,700 | they should do things. When they should. You as a trader, you're you incorporated. You have to be in control of everything, at all times. And you |
| 227 | 00:42:11,700 --> 00:42:28,380 | can't let these opportunities that will cause you to do reckless things. To invite you to do the most ill advised things while risking money. That's like, |
| 228 | 00:42:29,430 --> 00:42:39,030 | he would never jump out of a perfectly working airplane. But hey, the girl that you love, says she wants to do it. And she wants to have a moment in life with |
| 229 | 00:42:39,030 --> 00:42:47,010 | you. Now you're, you're contemplating it. You're scared shitless. But you're still contemplating it now, man, if I don't do it, what did you gonna think of |
| 230 | 00:42:47,010 --> 00:42:59,760 | me when they should have been? Honey, that is extremely brave of you. And I hope you respect the fact that I don't have wings. And I don't want to be up there. |
| 231 | 00:43:00,150 --> 00:43:13,230 | Challenging the outcome of me opening that parachute and opening carry me down seated around. I will watch in the safety of how you do that. And I will applaud |
| 232 | 00:43:13,230 --> 00:43:26,550 | you when you land safely. But I'm not doing that. And you shouldn't fear their response. They shouldn't push you into that. But what's really going to happen? |
| 233 | 00:43:27,630 --> 00:43:33,570 | You're going to be worrying about whether or not you do this or don't do this and how they're going to think especially if you're dating them brand new in the |
| 234 | 00:43:33,570 --> 00:43:41,100 | relationship. You'll do anything you'll fight a guy you know, damn well you probably get your SP by him. But you can't look like a weakling in front of her. |
| 235 | 00:43:42,840 --> 00:43:49,320 | Get some beard muscles, some liquid muscles go to they'll get to the bar, you get you know, I'm going to have to deal with this guy later on night for the bar |
| 236 | 00:43:49,320 --> 00:43:58,350 | closes. So let me get some liquid courage in me. And that way if I look at my SP at least I'm numbed up. You can't have that mindset in trading. You can't do |
| 237 | 00:43:58,350 --> 00:44:06,570 | that. Now my son didn't go to those extremes, but I'm just talking because I want to have something more interactive than just simply saying my son who has a |
| 238 | 00:44:06,570 --> 00:44:18,390 | video game fetish that he thought he was gonna be able to segue right down into this and treat it the same way. When you're not making a living. You're not |
| 239 | 00:44:18,390 --> 00:44:32,400 | building wealth, playing a video game. And you're not losing your home. Your livelihood. Your life savings. When you lose a game, when you lose a video game. |
| 240 | 00:44:33,390 --> 00:44:48,810 | Tournament. Okay, you're good to go. And it's pride. It's it. But in this, you could lose more than you have put in. Things can go wrong real quick, especially |
| 241 | 00:44:48,810 --> 00:44:58,260 | in today's climate. All the things there's going around the world and it could cause real quick sudden market movements and your stop loss. didn't do a good |
| 242 | 00:44:58,260 --> 00:45:09,360 | enough job. And now Now we're gonna get that money from. If you're trading real money live funds, it can take more than you have. If you present the |
| 243 | 00:45:09,360 --> 00:45:23,280 | opportunities for it to do so. A perfect storms happen all the time. So that's almost answer, listen, think about one and a half percent. Because if you can |
| 244 | 00:45:24,270 --> 00:45:37,110 | grow in understanding that one and a half percent is what you can lose, that's the most you can lose. What should you do going forward? Find a way to chew into |
| 245 | 00:45:37,110 --> 00:45:47,340 | that one and a half percent. Now, does that mean you go out tomorrow? And try to make one and a half percent? Where do you have to do it today? No. But think |
| 246 | 00:45:47,340 --> 00:45:56,910 | about how that fits in your life cycle. As a employee of a working company right now you're gainfully employed. You're only making four hours a week as a |
| 247 | 00:45:56,910 --> 00:46:07,860 | teenager, you want to grow, you want to be able to move away from necessity of having that and make your own money. Half of that with one trade, and it didn't |
| 248 | 00:46:07,860 --> 00:46:18,060 | even go to where you thought was gonna go. Just a small little move. Do you see how that's rewarding? He's like, I never really thought about like that. Because |
| 249 | 00:46:18,060 --> 00:46:26,580 | I had to solve it. It was not enough. I was expecting you to say, Okay, we want you to make this much. I said no. Did I tell you that today? No. But in your |
| 250 | 00:46:26,580 --> 00:46:34,110 | mind, you were thinking that it's going to be to see this much in return. And this that and all those things were in your mind while you were doing each one |
| 251 | 00:46:34,110 --> 00:46:43,140 | of these executions. They weren't that easy. Yep. And that's exactly what everybody does. That's what makes it hard. That's what happens with these guys |
| 252 | 00:46:43,140 --> 00:46:50,490 | on YouTube. Some of them are honest, and saying, you know, this is not easy, I gotta get out here and worry about this and worry about that. Right? You're |
| 253 | 00:46:50,490 --> 00:47:00,930 | making it harder. I love watching them. It's like a gladiator. You getting out there and you're doing something as backwards. There's no war, but you're gonna |
| 254 | 00:47:00,930 --> 00:47:09,210 | go out there and take on a fight. You want to be able to show the world that you can be a gladiator would everybody else having the benefit of being in a heckler |
| 255 | 00:47:10,170 --> 00:47:19,020 | talk shit to you. And that's in your head. And anybody that says it's not in their head is full of shit. So that that to me, you're inviting more difficulty. |
| 256 | 00:47:19,860 --> 00:47:26,100 | I promise you, every one of these YouTubers out there that are live streaming that can that can be profitable, they will be so much better if they weren't |
| 257 | 00:47:26,100 --> 00:47:36,990 | lifting. And and I'm not saying they shouldn't do what they're doing. I'm saying that there's a way that we as individuals, as humans, we compound the |
| 258 | 00:47:37,020 --> 00:47:47,730 | difficulty. I know I did. When I was a younger man, I tried to do a whole lot more than was necessary. But my son was successful today in identifying that to |
| 259 | 00:47:47,730 --> 00:48:01,590 | earn 44 hours. When he makes 400, after taxes for a whole week of income. Working in a place that he doesn't want to be around people that are conceited, |
| 260 | 00:48:02,220 --> 00:48:10,110 | self centered, entitlement minded. They look at him, they don't know that he's my son. They don't know how we live and what we have in our bank accounts and |
| 261 | 00:48:10,110 --> 00:48:17,850 | how we can live and do whatever the fuck we want to do. They don't know that about him. They see him as just some teenager, the equivalent of somebody that |
| 262 | 00:48:17,850 --> 00:48:33,570 | would be in a McDonald's and give me my shit. So he's, he's felt that now. He's felt it. He knows what it feels like, and he doesn't like it. And that's exactly |
| 263 | 00:48:33,840 --> 00:48:44,460 | what I wanted him to feel. Because now he doesn't have a college mindset. Have you ever had, he doesn't have a working man's career mindset. There's nothing |
| 264 | 00:48:44,460 --> 00:48:58,200 | wrong with that. But I didn't want my children having that. Because when you have that you are owned, you are absolutely owned. You are not independent. You |
| 265 | 00:48:58,200 --> 00:49:13,080 | have to be given permission. And you're scheduled to show up here, perform this job, better do it to my expectations, or I'm getting rid of you. That's not what |
| 266 | 00:49:13,080 --> 00:49:23,010 | I want for my kids. And that's not what you should want for yourself or your children. But the only way for them to appreciate the necessity that needs to be |
| 267 | 00:49:24,930 --> 00:49:35,340 | really enforced with work ethic and studying is let them taste that shit. They have to taste it saying you don't want to have a job for your progress your |
| 268 | 00:49:35,340 --> 00:49:39,660 | life. You don't want that. You don't want to do that. Trust me. You don't want that son. |
| 269 | 00:49:41,460 --> 00:49:51,000 | It's just going in one ear out the other because they have no real experience doing it. But when they see it, and they live it and they can't be with their |
| 270 | 00:49:51,000 --> 00:49:59,970 | girlfriends, they can't go on a road trip with that mom, they can't do those things because they have a schedule to maintain. The truth be told God's honest |
| 271 | 00:50:00,000 --> 00:50:07,530 | There has been many times where I just wanted to tell this boy, go in there and tell them, you're done. I'm not working today, I'll be back from my check when |
| 272 | 00:50:07,560 --> 00:50:21,810 | whenever it supposed to be. But if I did that, I'm not helping him. I'm not helping him prepare himself to be able to deal with stress, conflict resolution, |
| 273 | 00:50:22,110 --> 00:50:34,110 | work past something, and also defer what he wants to have and what he can have and much more than what he's aware of now, to defer that because he has to learn |
| 274 | 00:50:34,110 --> 00:50:48,180 | a skill set. That impatience factor as a teenager, is still very, very heavy in him. And because we've homeschooled him, he has a different sense of freedom, |
| 275 | 00:50:49,830 --> 00:50:58,620 | where his girlfriend and many of his friends, were stuck in that go to school at this time. And when you get out of school, you got to do homework or go to your |
| 276 | 00:50:58,620 --> 00:51:14,250 | job. And he's had pretty much freedom. Now, maybe homeschooling isn't a thing for you, maybe you can't do it. But if you can, you should be there, everybody |
| 277 | 00:51:14,250 --> 00:51:24,120 | has to have an employment, some kind, whether you're self employed or working for someone else. And today, he understood that a partial, that's more than 50% |
| 278 | 00:51:24,120 --> 00:51:37,020 | of what he's earning right now, with no real effort. No real effort was really needed to do more than half of what he makes. And I told him, I said, I'm not |
| 279 | 00:51:37,110 --> 00:51:47,250 | saying that that is good or bad. I'm just saying, what do you feel about it? And when he didn't answer, like, I want him to I tell him, I said, Do you not see |
| 280 | 00:51:47,250 --> 00:51:59,310 | that, that that's beneficial for you to not have to work so much in terms of time. And you'd have to deal with anybody. And you got that? What happens? If |
| 281 | 00:51:59,310 --> 00:52:10,260 | you just did two of those per week? And it didn't go to your full target? You didn't take the full position off. But you had something like that happened two |
| 282 | 00:52:10,260 --> 00:52:23,220 | times. Is that not better than your full week income? Yes. So why is that not something to start with? Because I was listening to you. And I thought, no, no, |
| 283 | 00:52:23,220 --> 00:52:32,130 | no. Why is it not enough? It is because I want to make a lot of money, right? Everybody does. Everybody listening to me right now wants to make a lot of |
| 284 | 00:52:32,130 --> 00:52:42,180 | money. Some of you have made a lot of money, and you want to learn how to make a lot more. But you have to start somewhere. And you have to have some kind of |
| 285 | 00:52:42,180 --> 00:52:51,930 | humble beginning and humble beginning is not an embarrassment. It's nothing to be embarrassed about. And this is the reason why I tell you stop inviting social |
| 286 | 00:52:51,930 --> 00:53:01,560 | media fuck wads into your career. You're at the early stages. Why would you invite someone to tell you what you should or should not do when they brought |
| 287 | 00:53:01,560 --> 00:53:12,090 | nothing to the table as a alternative with proof that what they're telling you to do is going to work. But it's human nature. It's like the watercooler in the |
| 288 | 00:53:12,090 --> 00:53:18,510 | morning when you get to work. You want to get there early not because you love your employer. You want to get there so you can bullshit with your co workers |
| 289 | 00:53:18,510 --> 00:53:26,370 | and listen to the shit that they're going to talk about. You want to hear them bitch about how their wife didn't let them go to the game. You want to hear them |
| 290 | 00:53:26,370 --> 00:53:33,660 | bitch about how they had to do yard work. And that way it reminds you Hey, I'm not the only guy that has to go through that stuff. Somebody all the guys that |
| 291 | 00:53:33,660 --> 00:53:41,340 | are living, you know, another household know that neighborhood work in the same place I am. They're going through the same stuff like me. So I'm part of the |
| 292 | 00:53:41,340 --> 00:53:55,200 | herd? No, there is no herd mentality. You are an apex predator. You're outside the herd. You're picking these motherfuckers off. You don't want to be a part of |
| 293 | 00:53:55,200 --> 00:54:10,110 | the herd. You have to think differently. You have to behave differently. Everything in a herd gets consumed their food. Now, if you want to walk around |
| 294 | 00:54:10,110 --> 00:54:19,650 | like a sheep, like cattle, and waiting for your time to get picked off, and you're welcome to do that. And I told my son I said, What are you? What are you? |
| 295 | 00:54:21,570 --> 00:54:34,710 | Are you a sheep? Are you a wolf? What's it going to be? Because you can exist for a long time in this life. As a sheep going to work, letting someone tell you |
| 296 | 00:54:34,770 --> 00:54:42,480 | it's time to go over here. It's time to go over there. And you'll look at them as though they're a good shepherd to me. They provide a good life. They give me |
| 297 | 00:54:42,480 --> 00:54:53,130 | a good job. I got a good job. Fuck your good job. I don't want your job. There is no job out there that I want and none of them is good enough for my son. None |
| 298 | 00:54:53,130 --> 00:55:03,780 | of them are good enough for any of my sons. I don't want them working for anyone. I want them to be able to write the check that they want every week, |
| 299 | 00:55:04,770 --> 00:55:14,790 | based on their own efforts or own steam, and managing the risks, and knowing that they may not get the wind that they wanted, it may not pan out, they may |
| 300 | 00:55:14,790 --> 00:55:25,470 | have a loss, but it ain't gonna cause them to go on tilt, and just completely wreck themselves. But you don't know what it's like to think about those things. |
| 301 | 00:55:25,470 --> 00:55:34,950 | In the beginning, the only thing here is thinking is all the upside. And the ones that are conscious about the risk that keeps them from wanting to do |
| 302 | 00:55:34,950 --> 00:55:47,370 | anything, because they're afraid. And that's where he's at right now. Because he put money in out of his own pocket to do these resets. And he felt like that |
| 303 | 00:55:47,370 --> 00:55:56,430 | that was recklessness. And it was. And he doesn't want to do that whole thing all over again. And be reminded of, it didn't work for him, it didn't work for |
| 304 | 00:55:56,430 --> 00:56:05,400 | me. So I said, there's a way to do this. And it's going to be a lot harder now for you because you have this mental scar tissue, which is exactly why I was |
| 305 | 00:56:05,400 --> 00:56:11,490 | trying to teach you the way I was teaching you. So that way, you wouldn't have these things just like when you are listening to me now on these Twitter spaces. |
| 306 | 00:56:12,210 --> 00:56:18,780 | Just when you're watching those videos on YouTube, and I'm talking about the things that are outside the chart that you're gonna have to deal with whether |
| 307 | 00:56:18,780 --> 00:56:28,080 | you like it or not, they're conversations that you need to have. Preferably, before you get to that situation that I'm talking about. Because many times |
| 308 | 00:56:28,080 --> 00:56:37,080 | you're not going to have the skill sets or the coping mechanisms to get you through it unscathed. You're going to hurt yourself, and you're going to go back |
| 309 | 00:56:37,080 --> 00:56:44,160 | and listen to it. I wish I would have watched that video, I wish I would have heard that you heard it. You're just in denial. You didn't listen to it, because |
| 310 | 00:56:44,280 --> 00:56:53,910 | you thought you were going to be the exception to the rule. And you're not all of us are human. All of us have frailties, and issues with us. Mine, a lot more |
| 311 | 00:56:53,910 --> 00:57:05,250 | than some of you. But all of this can be managed. But you got to start with a very small, low hanging fruit objective, and be content with a little bit in the |
| 312 | 00:57:05,250 --> 00:57:18,690 | beginning. Because here's the thing. What happens if you could only just make $250 per trade? Think about it. What happens if that's the best you could arrive |
| 313 | 00:57:18,690 --> 00:57:28,530 | at? Every trade that you take? The best you could get is 250 bucks, is that a failure? Now some of you, especially the young man be like, Come on, man, I |
| 314 | 00:57:28,530 --> 00:57:46,530 | ain't doing trading, it's that much. That's exactly how I thought about to in 1992, that Christmas, I'm sitting there thinking, Man, I gotta at least I gotta |
| 315 | 00:57:46,530 --> 00:58:00,060 | at least make $500 per trade. And I would not accept anything less. If it was a foreign Arwin or I got stopped out and it was $375. I looked at that as a loss. |
| 316 | 00:58:00,750 --> 00:58:13,710 | In my mind, I treated that as a losing trade. And I was programming myself to expect and demand. My full pour in anything less was a failure. Now who was out |
| 317 | 00:58:13,710 --> 00:58:25,710 | to do that? A dumbshit somebody that had no idea what he was doing. And I was brainwashing myself into thinking that profitability at any measure was |
| 318 | 00:58:25,710 --> 00:58:38,070 | counterproductive. wasteful, insignificant. And that's what you're doing probably with a lot of things in trading. It wasn't until I started |
| 319 | 00:58:38,070 --> 00:58:48,390 | understanding high frequency trading algorithms. That whole their whole function. Their whole function was to go in and take very small bites of the |
| 320 | 00:58:48,390 --> 00:59:02,970 | market frequently, all day long. Now, when the developers of an algorithm sit down, and they contemplate how they want to go in and engage market they're not |
| 321 | 00:59:02,970 --> 00:59:17,760 | in there saying the trade has to be 500 out and they're not doing it. They are looking for small little snippets in price delivery, that they know absolutely. |
| 322 | 00:59:18,300 --> 00:59:32,010 | They can get dozens not one time a day, dozens per time, I'm sorry, dozens per day. Think about that. Now think about what you're trying to do. Think about |
| 323 | 00:59:32,010 --> 00:59:37,650 | what you go into my content, trying to squeeze out and say this is what I have to do. |
| 324 | 00:59:39,690 --> 00:59:51,840 | That's not my problem. That's your problem. You're trying to present a feat some outcome that may not be applicable for you and your understanding or your your |
| 325 | 00:59:51,840 --> 01:00:07,650 | present the ability so go back to a simple approach. thinking, Okay, if I could get 250 bucks 250 bucks, you want to here's the here's the fallacy in this |
| 326 | 01:00:07,650 --> 01:00:18,630 | because when I first started understanding this, Larry Williams talked about this a lot in a lot of his systems at the time, and in the 90s, he was wanting a |
| 327 | 01:00:18,630 --> 01:00:32,160 | trade, or a model, or system, if you will, to be able to pay at least $350 per trade. Wait a minute, did you just say Mr. Larry Williams, Mr. 10,000, the $1.2 |
| 328 | 01:00:32,160 --> 01:00:42,930 | million in the Robins cup in 1987. That guy said he wants to make at least $300 per trade, or he's, he's not really interested. That means he's not even getting |
| 329 | 01:00:42,930 --> 01:00:56,820 | a full handle in the s&p back then. Because it was 500 hours per handle. But because I was listening to that stuff, and it was a lot of number crunching. And |
| 330 | 01:00:56,820 --> 01:01:09,480 | it was very simplistic roles. That made no sense to me. And many of them, I still don't have any affinity for. But he had an approach that he wanted to take |
| 331 | 01:01:09,480 --> 01:01:23,190 | on. And they had to have this much in terms of that testing, saying it results in yields this much in terms of profit per trade. If you can find a setup that |
| 332 | 01:01:23,190 --> 01:01:37,860 | yields $250, that $200 can be scaled to whatever the fuck you want it to be. What's to honor for the hours, it's five handles, what happens if you get five |
| 333 | 01:01:37,860 --> 01:01:49,860 | handles over the course of a week. And that's all you got? Is that a bad week? Now some of you jokers out there, but this guy's talking about making sure to |
| 334 | 01:01:49,860 --> 01:02:00,390 | document right, but you're the same person that's blown your shitty s count live on live stream. And we all want to do it. Two or three hours more than you had |
| 335 | 01:02:00,390 --> 01:02:11,190 | the beginning of the week is still turning with the hours. If you were broke, and had someone hands you $20, you'd be appreciated, right? If you just did |
| 336 | 01:02:11,190 --> 01:02:20,490 | that, in the beginning, I'm not saying your whole career is this. But in the beginning, if you started with that mindset, and all you were able to scrape out |
| 337 | 01:02:20,520 --> 01:02:30,300 | over the course of the entire week, because you did not push real hard. Because you know that you're not ready to do that. You might want to win a lot every |
| 338 | 01:02:30,300 --> 01:02:39,750 | day. You want to be able to train every single day. But that's not realistic, because you don't have the skill set to do that. And I'm reminding my son that |
| 339 | 01:02:39,750 --> 01:02:48,840 | he doesn't have to do this every day. He needs to taper eat, he needs to execute in front of me because he needs to be conditioned and desensitized from the fear |
| 340 | 01:02:48,840 --> 01:03:00,300 | he has placed on himself because of unrealistic expectations being act upon. He tried to do it his own way. Well, it was everybody in retail does that. |
| 341 | 01:03:02,010 --> 01:03:11,730 | Everybody does. They read a book, they think they are going to go in and apply that stuff. Because they don't mind it is to watch this video on waterblocks. I |
| 342 | 01:03:11,730 --> 01:03:17,970 | watched his video on optimal trade entry. You know, I watched the Super Bowl, I'm going out there and trading silver bullet and then read their tweets to me. |
| 343 | 01:03:18,780 --> 01:03:28,560 | Why is this failing? Again? Well, first of all, you're doing it wrong. Everybody wants to be in a hurry to go out and do something to make money. When you have |
| 344 | 01:03:28,560 --> 01:03:39,870 | to figure out what it is you're going to do to mess yourself up. And that's why one year minimum is ideal. That's not what you want to hear. I know. But that's |
| 345 | 01:03:39,870 --> 01:03:50,250 | exactly what you need to hear. He can't figure this stuff out on a unique personal level. fast tracking and trying to do it real quick. You cannot it's |
| 346 | 01:03:50,250 --> 01:04:00,570 | impossible. Nobody's going to do this for you. Nobody, nobody's going to shorten it for you. Nobody's gonna make it easier for you. Because you are bringing the |
| 347 | 01:04:00,570 --> 01:04:13,290 | same bullshit that everybody else is brought into it. It's mental baggage. And social media brings more of that. Trying to stand out trying to make a you got |
| 348 | 01:04:13,290 --> 01:04:19,170 | to defend my mentor, I got to make myself look profitable. I got to be able to keep up with the people that are renting cars I all this stuff. It's all |
| 349 | 01:04:19,170 --> 01:04:29,400 | bullshit. And if I did not stop on the throat of Cameron, to tell him that that's not the right way of doing it. Now. That's the direction he would go. |
| 350 | 01:04:30,390 --> 01:04:40,020 | Because you know what started all this stuff is he wants to go out there and troll the trolls. And it's almost a you're already doing it wrong. You can do |
| 351 | 01:04:40,020 --> 01:04:50,970 | that. But that can't be the reason why you're doing it. That can't be the reason why. Because if that's the reason why you're going to rush you're going to rush |
| 352 | 01:04:50,970 --> 01:05:05,370 | to do something that is not needed. It's not needed. You need the bells We'll set because once I move on, if you want to live beyond what are able to live |
| 353 | 01:05:05,370 --> 01:05:17,940 | like, now, you want to earn a lot of money. This skill set can do that for you. But you have to grow over time. And you had to figure out what you think as a |
| 354 | 01:05:17,940 --> 01:05:28,380 | human being. What greed is going to feel like when you start feeling it when you are profitable. When you're consistently profitable. That doesn't mean no |
| 355 | 01:05:28,380 --> 01:05:39,630 | losses, it means you close the week, you close the month, you're in gain, you're in profit. It doesn't have to be a lot. You're just not losing. There's nothing |
| 356 | 01:05:39,630 --> 01:05:51,750 | wrong with that. And I told him that acid, I want you to see what it feels like to be at breakeven, majority of the day. So when he wasn't getting it correct, |
| 357 | 01:05:52,020 --> 01:06:03,450 | I'd say okay. Bye here. And as soon as it gets above that love right there, I want you to close it, do not use a limit order. I want you to feel it, I want |
| 358 | 01:06:03,450 --> 01:06:12,480 | you to feel it while you're in it. And as soon as I tell you go, you buy it. And when it gets to that level, you sell it. Sometimes he would sell it before he |
| 359 | 01:06:12,480 --> 01:06:24,870 | got to the level. I said, Why did you do that? Because I was afraid. Why did you not listen to me? You're not listening. 30 years of experience against yours. If |
| 360 | 01:06:24,870 --> 01:06:34,050 | you're not going to listen, you're not going to learn. And other times he'd hold past the level. And it would fall back on a little bit. So Casey, what you said |
| 361 | 01:06:34,050 --> 01:06:43,290 | there? You had you had the right amount of gain. But you held on too long. Why do you do that? Because I thought if I keep going, I didn't tell you to do that. |
| 362 | 01:06:46,080 --> 01:06:56,160 | And he would get frustrated and start getting antsy. I said, why? What do you what are you feeling right now? I'm just I'm done. I'm done dead? I'm done. I |
| 363 | 01:06:56,160 --> 01:07:08,880 | said no, no, this is exactly where you need to be at. This is where you will do what you did. By failing at this multiple combines that frustration, that |
| 364 | 01:07:08,880 --> 01:07:20,280 | feeling of I need to do something to replace this feeling. That's where it all comes from. Everybody that ever blows in account is in that state of mind. And |
| 365 | 01:07:20,280 --> 01:07:27,330 | if they don't start there, when they're in a trade that they know damn well has gone tits up and he got to pay out. They know they should get out and he don't. |
| 366 | 01:07:28,470 --> 01:07:37,020 | Men, they're in that moment. They're in that mindset then. But they can't bring themselves to get out of the trade and close it. And I put him in those today. |
| 367 | 01:07:40,260 --> 01:07:50,880 | Lots of executions, lots of them. And we hung around breakeven. And I told him, I said, What's it feel like he goes, Well, we were up a lot, we were down a lot. |
| 368 | 01:07:50,880 --> 01:07:58,350 | And then I said, What's a lot a couple $100 here a couple 100 hours here, I said, you're saying a lot because that's in relationship to what you earn on a |
| 369 | 01:07:58,350 --> 01:08:11,130 | weekly say, weekly payroll. But the most you lost them was down was like 500 bucks. And you only went there one time. But every time you went up, you'd come |
| 370 | 01:08:11,130 --> 01:08:19,920 | back, download it. And every time you go back back up, you make a new equity high. And you come right back down the middle, hanging around breakeven, go back |
| 371 | 01:08:19,920 --> 01:08:27,900 | down, breakeven go up a little bit more. And then I said, Now think about what you're doing all these transactions Do you want your trading to be this many |
| 372 | 01:08:27,900 --> 01:08:37,980 | trades, because there's a lot of people out on social media that will show you at the end of the day, this is what I made. Look, I was able to profit today. |
| 373 | 01:08:39,150 --> 01:08:52,770 | But they don't show you the 50 transactions they took there's nothing wrong with working your ass off to get out of something. If you're if you're really gung ho |
| 374 | 01:08:52,770 --> 01:09:01,050 | about trying to make a profit on the day, sometimes you're gonna get into a market environment where you have to work a lot to get it to come out or if you |
| 375 | 01:09:01,050 --> 01:09:10,470 | go into drawing and do it wrong. You're human, you do it incorrectly, and you go into a losing trade and try to get it back into another losing trade. You have |
| 376 | 01:09:10,470 --> 01:09:22,020 | to stop or know that you can come out of it. And that's why I tell them one and a half percent your maximum because that one half percent. You should now know |
| 377 | 01:09:22,590 --> 01:09:35,100 | you've made $544 today. Think about that. Now. You if you can make that. That means you can risk that. |
| 378 | 01:09:37,260 --> 01:09:49,020 | You got to be able to go out there and find like algorithm and high frequency trading developers. They go out there and they look for a trade. It may be 100 |
| 379 | 01:09:49,020 --> 01:10:01,500 | bucks may not be 250 bucks. But what they're doing is they're looking for something that they specialize in that that algorithm will go in and monetize a |
| 380 | 01:10:01,500 --> 01:10:14,820 | fluctuation based on this repeating phenomenon that happens all day long. And that same little tiny little piece, one little bite of price action, throughout |
| 381 | 01:10:14,820 --> 01:10:30,060 | the day, done hundreds of times 1000s of transactions a day, they're pulling out money you can't even fathom. Because they're taking something with a cookie |
| 382 | 01:10:30,060 --> 01:10:39,510 | cutter approach, something that they can repeat over and over and over again, every single one that PDE arrays that I've taught you are just like that. That's |
| 383 | 01:10:39,510 --> 01:10:49,200 | what high frequency trading algorithms that people have learned from me, they have used these things now. They can go out and find them any timeframe. That's |
| 384 | 01:10:49,200 --> 01:11:00,750 | why I went down into the sub one minute charts to tell you that this stuff is in there all day long. All day long. Oh, this is a shitty market, it doesn't, it's |
| 385 | 01:11:00,750 --> 01:11:09,270 | not moving around, it shouldn't chop, we're in some real chop the chops real man, the charts real no slicing and dicing, on a sudden, one minute chart, |
| 386 | 01:11:09,810 --> 01:11:17,880 | they're still breakers and all that chart, there's still institutional order flows. In all that chop on a sub one minute chart, you have to know where it's |
| 387 | 01:11:17,880 --> 01:11:28,530 | gonna go even in a small little choppy range, if you want to call it that, you can anticipate what pool of liquidity is going to go in. In that one hour. I can |
| 388 | 01:11:28,530 --> 01:11:41,640 | trade in an individual 60 minute range in beat everybody's assets on social media. And I said that, yes. That's not arrogance, that's just the facts. |
| 389 | 01:11:42,150 --> 01:11:53,160 | Because I understand what price is going to do. I understand how I can mess it up. And I can wait for those perfect instances where everything makes perfect |
| 390 | 01:11:53,160 --> 01:12:02,310 | sense to engage right then and there. And I know the times that hurt me, I know when it could look like there's an opportunity. And it's really not their |
| 391 | 01:12:03,990 --> 01:12:12,750 | experience is going to dictate that. And I told him today that there's going to be a lot of lessons that you're going to learn that are not going to be in my |
| 392 | 01:12:12,750 --> 01:12:20,910 | video, they're not going to be in our discussions, it's going to be what you have discovered about yourself. And you're going to find that you're going to |
| 393 | 01:12:20,910 --> 01:12:31,170 | excel in certain instances, something just really revs you up, you see this opportunity, it makes so much sense to you. And you're not demanding it pays |
| 394 | 01:12:31,170 --> 01:12:41,070 | more than it would any other time. It's a profitable opportunity. And you may not have the equity to do 100 contracts at a time, when you start doing it. |
| 395 | 01:12:41,550 --> 01:12:50,430 | Start with one and you build up. And when you make enough equity to be able to do too comfortably and not go over one and a half percent risk, then and only |
| 396 | 01:12:50,430 --> 01:13:04,860 | then do you do it. But every single trade that you make and put one it's never, it's never to be taken where you can at least get that same trade paid out to |
| 397 | 01:13:04,860 --> 01:13:12,900 | you at least two or three times in the same day. And I'll say that, again, in layman's terms for the folks that don't really understand or appreciate what it |
| 398 | 01:13:12,900 --> 01:13:30,540 | is said. One and a half percent of your equity. If you can't find a trade two or three times intraday with that yield on individual basis, two or three times. |
| 399 | 01:13:31,950 --> 01:13:45,180 | You have no business taking that risk on. Think about it. Because what you're doing is you're demanding that you find a needle in the haystack, in your |
| 400 | 01:13:45,180 --> 01:13:58,620 | limited understanding of the marketplace, and your limited experience doing it. In the most difficult market conditions I have ever been in you. You you're |
| 401 | 01:13:58,620 --> 01:14:07,200 | going to be the person that can just go out here and walk out there and do that. I'm sorry, but you won't, you won't be. So don't put yourself through it and |
| 402 | 01:14:07,200 --> 01:14:15,960 | discourage yourself through failure. make allowances for yourself to spend a little bit more time learning how to do it. Do it the right way. So that way you |
| 403 | 01:14:15,960 --> 01:14:28,230 | enjoy the process. It should not be a draining effort for you to want to do this. And some of you it the way you talk in your tweets. It seems like |
| 404 | 01:14:28,380 --> 01:14:40,680 | somebody's twisting your arm and it ain't me. If you're not having fun doing this, it's not for you, but you're grossly doing it incorrectly. Making money is |
| 405 | 01:14:40,680 --> 01:14:50,730 | the the end result of you doing things, learning how to do it and having fun having done it but not being on an emotional high that you have to have a win |
| 406 | 01:14:50,760 --> 01:15:02,910 | all the time, or that you're chasing it like a high and the only way you feel that or understand and appreciate it is when you lose Real money. The people |
| 407 | 01:15:02,910 --> 01:15:10,110 | that lose real money, know exactly what I've just said, and it resonates with them. But if you've only been in demo, you don't even you haven't even came to |
| 408 | 01:15:10,110 --> 01:15:23,970 | the dance yet. You just you're a spectator, not a speculator. As soon as you put risk on the line, it all changes. So you have to have some measure of experience |
| 409 | 01:15:23,970 --> 01:15:33,990 | that you didn't just get last week, Washington, five minute trainer, the cliffnotes of something that took 30 years to be placed in your hands now. |
| 410 | 01:15:35,700 --> 01:15:42,780 | There's a lot of things that you're gonna learn about yourself. And you're gonna laugh. When you look back at how you thought you were ready to trade when you |
| 411 | 01:15:42,780 --> 01:15:53,250 | were not. You were not. I know I wasn't. There's no shame in it. There's no shame in it. But right now, you would never do that. Because it sounds like |
| 412 | 01:15:53,760 --> 01:16:02,010 | you're not smart enough. That would be like admitting weakness. And that's exactly what my son's struggling with right now. See, he's at the peak of his |
| 413 | 01:16:02,010 --> 01:16:15,810 | testosterone. He's, he's at the height of his strength, his muscularity, he's he's in his mind, his present age, he's at the peak. And young men, you know |
| 414 | 01:16:15,810 --> 01:16:22,020 | what I was like, when you were a teenager, you thought you could jump over buildings and nobody could kick your ass. You were the best looking person on |
| 415 | 01:16:22,020 --> 01:16:34,530 | the world. Everyone wants to be with you. Unrealistic viewpoints of yourself. And see he did damage to himself. He did damage. And he bragged to his friends. |
| 416 | 01:16:34,920 --> 01:16:45,810 | He bragged to his girlfriend, that he was going to do this and he was going to do that. And he couldn't do it. Now he has that. He's wrestling with that. And |
| 417 | 01:16:45,810 --> 01:16:58,500 | now because he didn't do it successfully, like he walked out and thought he was gonna want to do it. He's doubting and doubt, in a hurt bruised pride in a man. |
| 418 | 01:16:59,430 --> 01:17:14,640 | It's dangerous. They'll it'll make you do stupid shit. It'll make you do dumb stuff. So most of today, it was me just cleaning those wounds, reminding him |
| 419 | 01:17:14,640 --> 01:17:28,830 | that it's normal. Dad went through that I did all that stuff. I did all that stuff and worse. And Nevers, nobody here, telling me this, I fix it. So I was |
| 420 | 01:17:28,830 --> 01:17:38,400 | trying to find my way through it all. And making it longer than has to be and it's painful. So when I talk to you, and I make these conversations available to |
| 421 | 01:17:38,400 --> 01:17:48,810 | you, it's for your edification and so that you don't go through it, like I did. Set where you can avoid it and appreciate it. You know what, I don't want to |
| 422 | 01:17:48,810 --> 01:17:55,710 | make those mistakes. I'm glad ICT went through it. I'm sorry, he went through it. But I'm glad he went through it. And he's telling me how I don't have to go |
| 423 | 01:17:55,710 --> 01:18:07,110 | through that. That's the that's the wisdom. In a student that's listening to me, not this guy talks and he likes to hear himself talk. Now, I don't give a fuck |
| 424 | 01:18:07,110 --> 01:18:13,680 | that. That's how you think Get the fuck out of here. You're not somebody that wants to learn, you're a clown, you will be broke, you work in the rest of your |
| 425 | 01:18:13,680 --> 01:18:23,430 | fucking life, you will not be able to be profitable as a trader. So just get the fucking step and the people that really want to be here and make themselves a |
| 426 | 01:18:23,430 --> 01:18:32,670 | profitable student that trades and earns their own money. They want to know how they're possibly going to mess it up. And I'm not going to talk to you always in |
| 427 | 01:18:32,670 --> 01:18:41,700 | a refined manner. I'm live I don't have a filter right now. So I'm going to feel the impulses and the emotional charge that I remember going through. It's all |
| 428 | 01:18:41,700 --> 01:18:49,680 | real stuff for me. I went through this stuff and it was painful. And it's painful to remember what it was like for me and I know that some of you are |
| 429 | 01:18:49,680 --> 01:19:02,310 | going through it right now. And it's normal. And you can get through it. You can grow out of it. Use it like rocket fuel. It'll be the deterrence to never doing |
| 430 | 01:19:02,310 --> 01:19:13,830 | those same things again, because you know what it's done to you. You don't want to relive that. You have now a reason to appreciate the rattlesnake that those |
| 431 | 01:19:13,830 --> 01:19:23,850 | circumstances provide, you know, walking into that situation again, it's like a rattlesnakes tail just shaken. You don't need to go back in there again. You |
| 432 | 01:19:23,850 --> 01:19:34,290 | know what it's like so avoid it don't try to push and make money in those situations. Just relax take the day off take the session off don't do it. That |
| 433 | 01:19:34,290 --> 01:19:38,400 | ICT I'm just be an everyday trader and who the hell said that? Wasn't me |
| 434 | 01:19:42,630 --> 01:19:56,010 | so having a very, very low expectation of yourself. Yes. Five handles is a wonderful target. realistic target in the beginning, if you're absolutely scared |
| 435 | 01:19:56,010 --> 01:20:06,510 | to death, if you're scared to death of take swing trades, and you don't want to get into a trade because you're just afraid to do it. Feel what it's like to |
| 436 | 01:20:06,510 --> 01:20:16,560 | desensitize yourself to go in and execute and put a limit order on one handle, put put a trade on, if it runs up one handle, it will close the trade out. And |
| 437 | 01:20:16,560 --> 01:20:27,210 | that's one handle. It's $50 is not a lot of money. And if you do this over and over and over again, with a demo account, you will get over the fear of |
| 438 | 01:20:27,480 --> 01:20:40,560 | entering, then you add one more handle to it. Put on an entry, reach for two. And you'll see even with static price action, if you know where the markets |
| 439 | 01:20:40,560 --> 01:20:48,180 | likely to go, doesn't mean you're right. This means that this is the next draw on liquidity. This is where the obvious equal highs are, this is where they |
| 440 | 01:20:48,180 --> 01:20:58,200 | haven't been all day. Let's aim in that direction. And then put a trade on and try to go for one handle. And do that all day long. Working with a one minute |
| 441 | 01:20:58,200 --> 01:21:07,770 | chart. It's not about how much drawdown you have. Don't worry about that. Because if you're trying to measure that, you need to get into the pushing of |
| 442 | 01:21:07,770 --> 01:21:20,400 | the button. And just looking for a small transaction. That's it. Over time, by gradually working into one more handle one more up to five, you'll completely |
| 443 | 01:21:20,400 --> 01:21:28,650 | desensitize yourself to the outcome, it won't matter to you. Because you've done it so many times you're bored by it, you don't care. But think about what you're |
| 444 | 01:21:28,650 --> 01:21:36,630 | doing with your demo account right now, think about what you're doing with your combine challenges. You're gambling, you're literally gambling, the whole time |
| 445 | 01:21:36,630 --> 01:21:44,250 | you're dealing you're scared. You're anxious, you're hoping and praying you can get that certificate says you're funded, because you can't wait to go on social |
| 446 | 01:21:44,250 --> 01:21:54,750 | and show it that you're never gonna show anything after that. Cuz chances are you probably will blow it. When you get to the funding level. Nobody will see |
| 447 | 01:21:54,750 --> 01:22:05,730 | your payouts, certificates or confirmations. But you did something you showed the world that you got funded, you pass the combine. I don't want any of my |
| 448 | 01:22:05,730 --> 01:22:19,770 | students thinking that's a success story that says that's not that's just okay, you showed up to the dance now dance. All these certificates, they're wonderful |
| 449 | 01:22:19,770 --> 01:22:26,310 | little hurdles for you to get across in the beginning. I'm not trying to minimize that if you've never done it. Wonderful. That's where you're gonna go. |
| 450 | 01:22:27,990 --> 01:22:37,740 | But you have to have some kind of vision beyond that. What are you going to do once you are funded? Because chances are you're not really responsible. You're |
| 451 | 01:22:37,740 --> 01:22:47,910 | not organized. Unless you're thinking like I'm trying to suggest to you in my teachings and lectures in here tonight. You have to have some measure of |
| 452 | 01:22:47,910 --> 01:22:59,160 | controlling yourself and thinking about things correctly. Don't just go in impulsively trying to execute my son my own DNA, flesh and blood. There was no |
| 453 | 01:22:59,160 --> 01:23:10,170 | magic because he came from the fruit of my loins, okay. It was no mystical, magical powers transferred to him. He did like anybody else would do the wrong |
| 454 | 01:23:10,170 --> 01:23:21,960 | shit. Well, here's your results. impossibly tried to do something he wasn't ready to do. And now he has the mental baggage from it, that I told him and I |
| 455 | 01:23:21,960 --> 01:23:35,790 | tell all of you how you can avoid all that. So now he has to wrestle through all of that pride that bruised ego and concerned about what if he doesn't really |
| 456 | 01:23:35,820 --> 01:23:49,620 | still learn how to do it. You have no idea the impact that has on a person, especially a male, we are performance oriented. From sexuality, to physical |
| 457 | 01:23:49,620 --> 01:24:01,590 | appearance to workplace sports, we are all about measuring. It's all it is it's measuring. And ladies don't think that way. And that's why they're better |
| 458 | 01:24:01,590 --> 01:24:13,620 | traders. So if you cause the damage in your, in your psyche early on, you will carry that the rest of your career. You might become better at coping with it, |
| 459 | 01:24:13,830 --> 01:24:27,240 | but it never goes away. It will always be that little that little limp. That little kick in your back that little bum knee sensation you get when it rains. |
| 460 | 01:24:28,170 --> 01:24:35,700 | It will always be there. When you do certain trades. It'll it'll jog your memory of it. And then while you're in a trade, you'll be thinking about how was it |
| 461 | 01:24:35,700 --> 01:24:41,370 | done trade? Is this going to be like one of those again? Are you are you focusing on that trade? Are you worried about and reliving and having a |
| 462 | 01:24:41,370 --> 01:24:55,050 | flashback moment? Having PTSD episode? As soon as you lose sight of your trade in the beginning, not 30 years later, the beginning soon as you lose focus and |
| 463 | 01:24:55,050 --> 01:25:05,880 | you start having your attention somewhere else. Close the trade. You've lost the plot Oh, this guy just said clothes, you need to reward yourself for being |
| 464 | 01:25:05,880 --> 01:25:15,930 | disciplined. Discipline is not taught, you can't buy it in a course, you can't read it in a book and acquire it. You can't have a five minute trainer or |
| 465 | 01:25:15,930 --> 01:25:36,090 | cliffnotes edition of anything myself or anyone elses and get discipline. It's forged through pain, struggle. And finding the outcome that is favorable, that |
| 466 | 01:25:36,090 --> 01:25:45,780 | you couldn't identify or see at the time. And the cause over time you do these types of things. And you know what it was like to be going through it painfully |
| 467 | 01:25:45,960 --> 01:25:53,070 | doing things that you shouldn't do, taking on more risk, taking on more contracts, because I know what you're thinking is the same thing that I just |
| 468 | 01:25:53,070 --> 01:26:06,420 | talked about, and my son lived it, they will tell you that you can trade up to 15 contracts with us 150,000 Our account? Sure, sure, you can do that. And |
| 469 | 01:26:06,420 --> 01:26:16,440 | you're thinking, well, it's worth the risk. It's like a lottery scratch off, it only cost the whatever it was, I don't even know what they cost to get the |
| 470 | 01:26:16,440 --> 01:26:23,700 | Combine started. But what happens if it works, man, so like a big shortcut, because if I can get the funded, something magical is gonna happen, I'll learn |
| 471 | 01:26:23,700 --> 01:26:32,730 | how to trade then. It sounds funny, and probably something of your life that you that's exactly what you were thinking to, you know, as long as I got to find a |
| 472 | 01:26:32,730 --> 01:26:42,150 | park, then I'll know what I'm gonna do, I'll pick the right trades, then I'm just, I want to hurry, I just want to get through that first stage. And these |
| 473 | 01:26:42,150 --> 01:26:57,870 | funding companies are loving that, to make lots of money with reset these. You can do this. But you have to change how you think. You have to lower your |
| 474 | 01:26:57,930 --> 01:27:08,070 | expectations. And that's not a bad thing. Trade with one contract, trade with one contract. And I promise you, this is what you're going to have happen. |
| 475 | 01:27:08,520 --> 01:27:13,800 | You're going to use one contract, you're still going to trade impulsively, you're still going to get in here because you want to have something good to |
| 476 | 01:27:13,800 --> 01:27:29,850 | happen. And then you're going to go into drawdown. And at one contract, you'll have three handles, become seven handles drawdown stop, you can afford to trade |
| 477 | 01:27:29,850 --> 01:27:45,030 | more because the max loss day, whatever it may be, you're not there yet. Still stop, can you stop 99% of you won't. That's a problem. That is a problem. |
| 478 | 01:27:46,470 --> 01:27:56,250 | Because if you can't control yourself and say, You know what? I can stop right now. And I'll come back tomorrow, even if this does move where I thought was |
| 479 | 01:27:56,250 --> 01:28:03,990 | gonna go today. Or if it moves even way beyond that, it doesn't matter because you weren't in that trade. So you can't regret it. You weren't in that trade, so |
| 480 | 01:28:03,990 --> 01:28:18,240 | you can't regret it. You have to start somewhere. Forging discipline, being self responsible. And that way you know, that you can control yourself in the future. |
| 481 | 01:28:18,480 --> 01:28:27,480 | And you can trust yourself because what you're doing and you don't realize it you're pushing the button in these instances with a demo account or in a combine |
| 482 | 01:28:27,480 --> 01:28:37,980 | because you know that you wouldn't be losing that money. If it's wrong, that's money that money is not coming out of your bank account. It's not coming out of |
| 483 | 01:28:37,980 --> 01:28:48,960 | your live equity. So it gives you this sense of false sense of security and it's also it feels like you have all upside no downside but you still have to pay for |
| 484 | 01:28:48,960 --> 01:28:56,220 | a reset and you're paying in time you're wasting time instead of just doing it the right way |
| 485 | 01:29:01,740 --> 01:29:13,620 | every one of these combines every single one of them all of you could do it in a month all of you could do it in a month but all of you want to do it in the |
| 486 | 01:29:13,620 --> 01:29:28,110 | minimum time all of you want to do it in some guys challenge on YouTube. Do it in this amount of time. How about make $5 million after taxes let's let's talk |
| 487 | 01:29:28,110 --> 01:29:38,280 | real money. Okay stop with the Mickey Mouse shit all these challenges do this and do that no, no, no, no, no, no. I'm teaching you how to be the best trader |
| 488 | 01:29:38,280 --> 01:29:52,110 | that you can be. And if you want to listen to other people tell you shit. You're welcome to do that. But that combine whatever company you're using every single |
| 489 | 01:29:52,200 --> 01:30:06,030 | one of them or Mickey Mouse level, easy. Day collectively understand that you are going to do what I've been talking about in this entire Twitter space |
| 490 | 01:30:06,030 --> 01:30:17,760 | tonight. You're going to be reckless, you're going to be impatient. You want to just get through that first step, that unprofitable, unfunded challenge that |
| 491 | 01:30:17,760 --> 01:30:33,990 | contest who you compete against you. You are you are competing with yourself. And when you blow it, who do you lose to? You, too? Doesn't it make sense to |
| 492 | 01:30:33,990 --> 01:30:42,720 | figure out what the fuck you're doing wrong? And that's why I talk like this. That's why I talk about the things outside of the concept and a video that you |
| 493 | 01:30:42,720 --> 01:30:54,870 | think I'm talking about dumb shit, I saw a guy on one of the dudes that take my Twitter spaces, and it'll it'll be in YouTube, he does the comment section of |
| 494 | 01:30:54,870 --> 01:31:01,050 | some goober, if you want to make money, or if you want to have more people watch your videos, you can cut the bullshit out and just get to the trading parts. |
| 495 | 01:31:01,890 --> 01:31:11,640 | Dude, you're listening to this, you are absolutely fucking doomed. You're never gonna make any money. The fact that you don't want to listen to someone that has |
| 496 | 01:31:11,640 --> 01:31:20,250 | gone through it, figured out how to fix it, and has taught other people how to do it. And they're making fortunes because they have adjusted and did these |
| 497 | 01:31:20,250 --> 01:31:32,160 | things in their own trading. There is no shortcut. There's no, there's no way around these things, whether you are met with it right now. Or in the future, |
| 498 | 01:31:32,370 --> 01:31:42,600 | every single one of you, you will come across this bridge in the road. And either you stop trading, because these things are going to be in front of you |
| 499 | 01:31:42,930 --> 01:31:53,700 | these problems that every trader has. Or you learn how to deal with it on an individual basis that you are going to wrestle with things that the next person |
| 500 | 01:31:53,700 --> 01:32:11,850 | isn't. But it's all the same things. Uncertainty, performance, anxiety, rushing, not being organized. And the top of the list, unrealistic expectations. My son |
| 501 | 01:32:11,850 --> 01:32:20,910 | went into it thinking I'm ICT son is going to be easy, like video games are going to tell my dad this is what I did Bada bing, bada boom, it's done. Yeah, a |
| 502 | 01:32:20,910 --> 01:32:32,940 | lot of bing bada boom, you got your it's done. It's over. Now you got to fix it. But now you have a harder because you have to fix all of that negative thinking. |
| 503 | 01:32:34,170 --> 01:32:46,350 | You got to cope with that now, which makes everything exponentially harder, but not impossible. But much, much harder. And when I talk to you this way, and most |
| 504 | 01:32:46,350 --> 01:32:58,050 | of this stuff is designed for my kids. I'm telling them how to avoid all these things. And two of my boys now have tasted this shit. Cody thought he's gonna |
| 505 | 01:32:58,050 --> 01:33:14,190 | whip Kryptos ass and it whipped as as I told him to stay away from it didn't listen. Okay. He's not trying to treat the sour by it doesn't want to talk about |
| 506 | 01:33:14,190 --> 01:33:24,600 | it. Doesn't care. Okay, I get it. He wants to be the owner of his stepfather's business and he thinks he's going to be passed on to him. I don't think that's |
| 507 | 01:33:24,600 --> 01:33:42,240 | going to happen. But he's an adult that didn't do what he wants to do. Cameron, tried to do it the the video game approach. All right. Caleb, slow and steady. |
| 508 | 01:33:42,660 --> 01:33:54,540 | Not trying to be big, not trying to worry about you getting out of his job real quick, just real slow and steady, real slow and steady. And he'll get there. I'm |
| 509 | 01:33:54,540 --> 01:34:08,250 | confident. I'm confident he will have all the traits that I want. All of my, all of my kids and all of you as my students to have. He's not in a hurry to go in |
| 510 | 01:34:08,250 --> 01:34:18,570 | and tell his boss, I don't need to be here anymore. And because of that, he has the right mindset and it'll carry him. He has no girlfriend. No social life. |
| 511 | 01:34:18,630 --> 01:34:36,720 | It's work study markets. That might not be for you. Okay. I already said I'm not for everyone. The markets are not for everyone. But there is no sugar coated |
| 512 | 01:34:37,350 --> 01:34:48,630 | cookie cutter approach, that you're gonna be able to walk out there. Start making money, have no problems, no issues mentally no baggage, no drawdown that |
| 513 | 01:34:48,630 --> 01:35:01,620 | cause you to think recklessly. There's nobody teaching this stuff. They're all trying to entice you to buy courses, buy memberships buy products. Follow me |
| 514 | 01:35:01,710 --> 01:35:13,590 | copy me trading you have to deal with the realities of you're going to do it wrong. What are you going to do when you do it wrong? How are you going to cope |
| 515 | 01:35:13,590 --> 01:35:26,610 | with it? How are you going to get past it? I've been there. I've been there lots of times. And I thought I had it figured out way faster than I really needed to |
| 516 | 01:35:26,610 --> 01:35:40,500 | invest more time. But I had to discover this stuff, going through it, patching myself up, stopping the bleeding, and working extra jobs, when I didn't have a |
| 517 | 01:35:40,500 --> 01:35:48,780 | whole lot of free time as it was just to get a little bit of money to start doing all over again, and making the same mistakes, thinking that I was gonna |
| 518 | 01:35:48,780 --> 01:36:00,030 | get a different result. And many of you're doing that, even with my concepts, you're trying to force something that's not in the chart. You're trying to see |
| 519 | 01:36:00,030 --> 01:36:08,790 | of a breaker, you're trying to see a fair value gap, but a silver bullet, because you want to be there, you're impatient and waiting for it to form. You |
| 520 | 01:36:08,790 --> 01:36:18,540 | want to be there. So you're going to look for it and dammit, you're going to see it. They're like inkblots, the Rorschach. They're, they're projecting what you |
| 521 | 01:36:18,540 --> 01:36:30,570 | want to see. And you're fooling yourself. Instead of understanding how to read price for real. And you can't do that quickly. I've never said that you could do |
| 522 | 01:36:30,570 --> 01:36:44,820 | it quickly. But once you understand how to read price. And you understand how to determine where the draw and liquidity is. 90 Fucking days, you apply that |
| 523 | 01:36:44,820 --> 01:36:52,680 | silver bullet, you don't need a job. That is not 90 days, you can quit your job. There's people out there taking my you know my comments and making YouTube |
| 524 | 01:36:52,710 --> 01:37:01,710 | channel videos, saying I'm going out there and telling you how to quit your job in 90 days. Now, you have to at least know what price is doing. Apart from the |
| 525 | 01:37:01,710 --> 01:37:10,950 | silver bullet, silver bullets, just a multiplier. It's a model that lets you go in and act on what you should already understand about the marketplace. You're |
| 526 | 01:37:10,950 --> 01:37:23,070 | not doing that in 90 Fucking days. Okay, you're not? You will not okay, so we were understanding ourselves. But if you spent a year back testing and tape |
| 527 | 01:37:23,070 --> 01:37:34,440 | reading, and you get a really good feel for what markets are doing and how they work from one liquidity to the next, look at the video I put up once for life. I |
| 528 | 01:37:34,440 --> 01:37:44,400 | literally tell you how to go on air and use the previous sessions liquidity. And for the folks that are asking me, Can you teach the london session just look at |
| 529 | 01:37:44,400 --> 01:37:55,380 | the previous day's Afternoon pm session on why you're making it hard. That's what you do. That's all you do. Apply that in between the two o'clock and five |
| 530 | 01:37:55,380 --> 01:38:03,990 | o'clock in the morning. My nothing kills them. Whether it's Forex or futures, it doesn't fucking matter. It's the same stuff that you are all complicating |
| 531 | 01:38:03,990 --> 01:38:15,930 | something I've made very simple. Because you're bringing something that you think is a mountain issue. And it's not, it's insignificant, but because of your |
| 532 | 01:38:15,930 --> 01:38:25,380 | impatience, because the lack of discipline and self control over yourself, you're making it something bigger. And it's the perfect excuse to say, I don't |
| 533 | 01:38:25,380 --> 01:38:33,570 | have to do it. And it's not working for me it's not profitable, because it is not teaching me this and that I've already told it that you don't want to put |
| 534 | 01:38:33,570 --> 01:38:48,270 | the work into it just like my own son didn't want to. And he saw how that worked. And today he had a taste of it for real. And he's drained. |
| 535 | 01:38:50,130 --> 01:39:03,090 | Yeah, this is what it's like. It's like fucking bootcamp. Six weeks, you go in there, fluffy for fucking ding dongs and bonbons and they whip your ass in the |
| 536 | 01:39:03,090 --> 01:39:12,690 | shade and six weeks. You're salty shit, you want to get there and chew somebody's liver from their abdomen? Well, some people need to go through that. |
| 537 | 01:39:13,800 --> 01:39:22,440 | They discover that they're their biggest adversary, they're their biggest problem. And most people will be quick to point the finger outside of |
| 538 | 01:39:22,440 --> 01:39:33,090 | themselves. Oh, that guy, that guy that thing was not profitable. Because this and that. You just didn't do what was required. You have to step into that |
| 539 | 01:39:33,540 --> 01:39:45,840 | uncomfortable area of development. Just like weight training, dieting, anything worth having and maintaining is going to require effort and you're trying to |
| 540 | 01:39:45,840 --> 01:39:57,180 | learn the highest form of financial education on the planet. Think about what you're expecting. You think that you're just going to roller skate into this |
| 541 | 01:39:57,180 --> 01:40:11,670 | shit with $500 See on our account, and all of a sudden, now you're fucking rich. This is not Instagram, okay? That's all bullshit over there, it's going to take |
| 542 | 01:40:11,670 --> 01:40:20,250 | you a lot more time, a lot more effort and a whole lot more money than you're willing to put into it. And now there's other avenues where these funding |
| 543 | 01:40:20,250 --> 01:40:33,120 | companies are making it available to you. That resource while it's available, it might be worth it, I'm not saying you should, it might be worth it for you to do |
| 544 | 01:40:33,120 --> 01:40:46,380 | it. But you won't beat it. Unless you're disciplined, you won't beat it unless you're organized, you won't beat it. You won't beat that combine. If you do not |
| 545 | 01:40:46,590 --> 01:41:00,990 | have the right mindset, and have control over yourself and say, Okay, this is all I'm doing. Is all I'm doing. To you think 10 handle runs 20 handle runs when |
| 546 | 01:41:00,990 --> 01:41:08,880 | I'm doing I'm like, Man, I wish I could do that. You know what you should be doing? You should be saying I want to be good at getting consistently three |
| 547 | 01:41:08,880 --> 01:41:22,950 | handles, not even five. Start there. If five too much. Start with three. Once a day, if you can do it, then start aiming for one in the morning, one an |
| 548 | 01:41:22,950 --> 01:41:36,450 | afternoon, that's six candles a day. In 10 days, you could work to share that combine if you did that, with one contract. You don't need it use their high end |
| 549 | 01:41:36,480 --> 01:41:48,690 | versus how many contracts you can trade. It's you don't need it. One contract, you can replace what you earn at majority of what your present income is not |
| 550 | 01:41:48,690 --> 01:41:58,290 | another saw your six figure people that have careers and such and God bless you for it. But the majority of folks in America don't make six figures. majority of |
| 551 | 01:41:58,290 --> 01:42:13,380 | them don't even make 50,000 a year. It's sad. But you can make $50,000 Easy as fuck. Even with that little $50,000 Low rung from that account. So I told him, I |
| 552 | 01:42:13,380 --> 01:42:23,220 | said, think about like that 50,000. That's all you got. You can't get the 100,000 you can't get the 150,000 You got to make it work with the 50,000. If |
| 553 | 01:42:23,220 --> 01:42:33,720 | you don't trade more than one contract, and you can replace your jobs income, is that a failure? He's now the awesome, right. So why didn't you think about that |
| 554 | 01:42:33,720 --> 01:42:51,300 | when you were doing the other shit? Well, because I want because you want that's the problem. You want wanting is a problem. You need to slow the fuck down. You |
| 555 | 01:42:51,300 --> 01:43:03,510 | have to slow down. All of that and more is available to the people that understand themselves, the markets and the timing aspect. All of you know, all |
| 556 | 01:43:03,510 --> 01:43:17,010 | of you now in the United States, at least, what took place yesterday in our country. for July, it's a holiday. So the protocol is expectations low. Now, we |
| 557 | 01:43:17,010 --> 01:43:26,040 | moved a lot in the morning. uncharacteristic uncharacteristically, that's fine. But what do we have in the afternoon? FOMC minutes. Now, typically, that's not a |
| 558 | 01:43:26,040 --> 01:43:39,390 | big mover, but it causes a little flurry of action. So was today a easy day? Not if you're brand new? No, it's not. So if you felt overwhelmed, it's normal. It's |
| 559 | 01:43:39,390 --> 01:43:49,830 | absolutely normal. And you shouldn't be beating yourself up. If you lost money, trying to do something today. Learn from it, but don't beat yourself up. But |
| 560 | 01:43:49,830 --> 01:43:59,880 | it's easy to try to tell yourself, why bother, I'm going to fail. I'm never going to do this. I've lost money, blah, blah. I was the guy out talking to last |
| 561 | 01:43:59,880 --> 01:44:11,190 | week. I think it was last week or over the weekend, saying you know, thanks for everything I see. But I was too much money. I gotta stop. Right away. I knew |
| 562 | 01:44:11,190 --> 01:44:21,900 | that the guy was trading before he should have. And I didn't want to Twitter beat him up. But you knew who you are. You rushed into that. Because you are |
| 563 | 01:44:21,990 --> 01:44:32,340 | probably overwhelmed in debt. You're probably overwhelmed with the pressures of the world and your personal life and you need to make a change. Everybody has |
| 564 | 01:44:32,760 --> 01:44:44,610 | room to make change. But in this industry, you can't speed it up. Just because you need it because you want it is it going to make it manifest itself. Okay. I |
| 565 | 01:44:44,610 --> 01:44:53,730 | am not a believer of manifest and it's going to appear now. Because if that happened, it would have happened for me because I was doing all that stuff in |
| 566 | 01:44:53,730 --> 01:45:02,010 | the beginning and it never worked. And working really hard doing the wrong shit isn't going to make it happen either. You have to know what you're doing. And |
| 567 | 01:45:02,010 --> 01:45:11,220 | you have to know yourself intimately. That means all the ugly parts, the things that you'd never want to share with anybody else. That shit is the problem. And |
| 568 | 01:45:11,220 --> 01:45:21,870 | every one of us, every single one of us have those flaws, those triggering mechanisms that cause us to lash out in our personal relationships, we start |
| 569 | 01:45:21,870 --> 01:45:33,900 | fights and arguments we don't realize it but we're doing it. We're causing drama at work. One line if you go to bars or whatever, something happens in your brain |
| 570 | 01:45:33,900 --> 01:45:41,520 | before you got an F fistfight either got your ass kicked or beat the other guy. Now you're in jail. You drive down the road to my desktop, you get out you |
| 571 | 01:45:41,520 --> 01:45:54,930 | kicked and stopped a car and now you're getting fucking sued. All of us have frailties, character flaws, and nobody talks about the things that's gonna wreck |
| 572 | 01:45:54,930 --> 01:46:07,920 | your ass in trading because it's not pleasant. Nobody wants to be reminded that we're all human, that we all have to wipe our ass. Yeah. That's the reality, |
| 573 | 01:46:07,920 --> 01:46:17,100 | folks. There's no sugarcoating it here. And if you don't have these realistic perspective going into this, it's easy to fall into Instagram fanciful, |
| 574 | 01:46:17,100 --> 01:46:23,940 | believing it's fairy tales, and it's all gonna happen for me magically all I gotta do is buy this guy's bullshit, sign up to his discord go into his |
| 575 | 01:46:23,940 --> 01:46:38,160 | horseshit. Nope. It's gonna take a lot of effort. But I promise you, I promise you, if you do what's required. There'll be a whole lot less time that you're |
| 576 | 01:46:38,160 --> 01:46:46,800 | fearful it will require. So you're thinking it's going to take 30 years? No, you're gonna, you're thinking it's going to take six years ICT said it took him |
| 577 | 01:46:46,800 --> 01:46:56,310 | six years to figure this shit out. Now, I had to figure myself out. In those six years, I figured out everything I needed to know about the trading part in a |
| 578 | 01:46:56,370 --> 01:47:03,360 | little less than three and a half years. But we'll call it three and a half this call three half, but it's just just a tad underneath. Three and a half years, I |
| 579 | 01:47:03,360 --> 01:47:14,850 | had everything in my head technically, that needed to be applied for me to find everything I needed to find, for setups, endless setups. But I wasn't satisfied, |
| 580 | 01:47:14,970 --> 01:47:23,670 | I wanted to supercharge it even more. And I was pursuing perfection. And I created a lot more performance anxiety issues in myself, but trying to improve |
| 581 | 01:47:23,670 --> 01:47:34,920 | upon what you now know and what I'm sharing here. So it won't, it won't take you. When you when you get there. You arrive at your consistently profitable, |
| 582 | 01:47:35,040 --> 01:47:40,290 | comfortable zone where you don't need to do anything else you didn't you don't need to tinker with it. You don't need to change anything. You need to watch |
| 583 | 01:47:40,290 --> 01:47:49,980 | anybody else's videos mine included. You got to watch anybody else's courses, books, none that shit. You know exactly what you're doing tomorrow, the next |
| 584 | 01:47:49,980 --> 01:48:01,860 | day, five years from now it's gonna be same show. Boring. You go in, you make your money, you stop, you go live your life. That's what real traders do. That's |
| 585 | 01:48:01,860 --> 01:48:10,680 | what real traders do. They are not in here all day long chained to these fucking computers. They're not doing that. They're not doing that, folks. The people |
| 586 | 01:48:10,680 --> 01:48:19,770 | that make money, they go in to get their shit. They get done and they go live their life. How many of you are looking at trading like that? Chances are you're |
| 587 | 01:48:19,770 --> 01:48:26,910 | not. You want to trade the london session, then you want to trade the New York session, then you want to treat the pm session. And then I hope there's gonna be |
| 588 | 01:48:26,910 --> 01:48:43,110 | a move in the Asian session because fuck it I got time. No, no. Which time of day? Works for You. London. Morning am in New York, or pm session. |
| 589 | 01:48:43,350 --> 01:48:53,550 | Forget Asia. You can't trade in Asia. There's not enough moves. Can it? Does it sometimes yes. But not, in my opinion not to find consistency and find yourself |
| 590 | 01:48:53,550 --> 01:49:05,070 | out of your job? No, no, the volatility is too low right now. When it mocked them when the markets were really wild. And we had these really 300 Pip handle |
| 591 | 01:49:05,400 --> 01:49:18,180 | not handled with 300 Pip ranges every day. It's years ago, AGC really nice. But it's it's consolidated and it's a whole lot more quiet in that period of time. |
| 592 | 01:49:18,300 --> 01:49:28,740 | Even the yen pairs, palsy pairs and New Zealand Dollar. They're usually the markets that are prone to be more active then. And they're just simply not |
| 593 | 01:49:28,740 --> 01:49:36,180 | enticing enough to do it. So what happens What do you got to do ICT if it's the only thing I can tell you right now it's in Asia, then you need to make changes |
| 594 | 01:49:36,180 --> 01:49:47,820 | in your life. If you want this bad enough, you'll make the changes and the efforts that you do and your back testing will give you the courage to make |
| 595 | 01:49:47,820 --> 01:49:57,720 | those changes. Don't just do it blindly. Show yourself with evidence that the things that I'm teaching you are in the charts, not because you did it for a |
| 596 | 01:49:57,720 --> 01:50:08,400 | week or a month really I really go in there and be highly critical. Do the things I tell you show up in price action, when I tell you, they're going to |
| 597 | 01:50:08,400 --> 01:50:17,820 | show up how I teach you that they're going to appear in price. You're not manifesting shit, the market is gonna design it's designed, it's coded to |
| 598 | 01:50:17,820 --> 01:50:29,070 | deliver like this. If these things are in price action beforehand, and that time of day, you expect this thing to unfold. And then you wait for it to happen. And |
| 599 | 01:50:29,070 --> 01:50:38,340 | you do that week after week until you have months of experience doing it, nobody's gonna be able to convince you that what you have observed isn't the |
| 600 | 01:50:38,340 --> 01:50:48,330 | facts and reality. And you will do whatever you need to do to make the changes in your life. That means change your career, change your location, move, step |
| 601 | 01:50:48,330 --> 01:50:56,370 | down from how you live, right now, if you're single, you don't have kids, it's real easy to do that. But if you have a family, and that's challenging, I'm not |
| 602 | 01:50:56,370 --> 01:51:05,970 | saying it isn't. But are you willing, if you discover that, you know, you can do this, but you have to make some changes that require you to go down in your |
| 603 | 01:51:05,970 --> 01:51:16,020 | living, you might live in a nice single family house, what happens if you go down to an apartment, because of the requirements for money, or moving to a |
| 604 | 01:51:16,020 --> 01:51:28,890 | different time zone? All of you are gonna have different things, these different kinds of barriers. But they're not mountains that can't be passed. They're just |
| 605 | 01:51:28,890 --> 01:51:36,540 | speed bumps. And I'm trying to minimize it, because I know some of you are going to have but you ICT, you don't know it's easy for you to say no, I'm not saying |
| 606 | 01:51:36,540 --> 01:51:48,150 | it's easy. I'm saying that. I don't have a way of fixing everything for all of you. Remember, no sugarcoating. And you can't fault me because you live in a |
| 607 | 01:51:48,150 --> 01:51:56,340 | time zone and work a career, and you have a family and you have a spouse, that is not supportive. That's not my fucking problem, I didn't create that problem |
| 608 | 01:51:56,340 --> 01:52:04,860 | for you. And some of you sent me emails pitching to me, like I caused that for you. I didn't do that. I didn't know you. But that's the level of mentality, |
| 609 | 01:52:04,860 --> 01:52:13,740 | some people will apply to me as a mentor, and think that, you know, I'm somehow supposed to post something on my ass that fix that I don't have a solution for |
| 610 | 01:52:13,740 --> 01:52:26,550 | those things, you're gonna have to make those changes. So there's a lot of difficulty when you step into this industry. And it's intimidating. And if you |
| 611 | 01:52:26,550 --> 01:52:36,060 | start off on the wrong foot, even worse, when you're told not to do those things, and you do it. And now you have fear behind every execution, you have |
| 612 | 01:52:36,150 --> 01:52:49,440 | concern about whether you're never going to be profitable or not. It's easy to talk yourself out of it. It's real easy to talk yourself out of this. And I'm |
| 613 | 01:52:49,440 --> 01:53:05,430 | just reminding, don't don't, I'm not making any money talking to you right now. There's no ads here. I want you to be successful, I want you to know what you're |
| 614 | 01:53:05,430 --> 01:53:16,140 | walking into is going to be very difficult, because you're going to make it almost impossible. You are, you are the thing that's going to make it or break |
| 615 | 01:53:16,140 --> 01:53:25,920 | it. That's it, that's the way it works. You're not going to shorten the learning curve by anything. Nothing, I don't care what they put in their titles or their |
| 616 | 01:53:25,920 --> 01:53:40,080 | fucking videos, nothing is going to shorten that learning curve, it is not going to happen. Whatever that you on an individual basis require is what's going to |
| 617 | 01:53:40,110 --> 01:53:50,580 | require and you don't know how long it's going to take. But you have to show up with the expectation that I'm here for the duration. This lifestyle, this |
| 618 | 01:53:50,580 --> 01:54:00,900 | income, opportunity is worth it. I don't give a shit how many months I gotta back testing. I don't give a shit how long I got to take bring in the future. My |
| 619 | 01:54:00,900 --> 01:54:08,490 | outcome, my end result is I'm going to make whatever the fuck I want to make it nobody's telling me how much it can be. Nobody's gonna put a lid on it. They're |
| 620 | 01:54:08,490 --> 01:54:19,020 | gonna tell me I can't go on a vacation, go here and go here. Nobody's gonna tell me I can't afford this. Nobody's doing that. Nobody is doing that. And I don't |
| 621 | 01:54:19,020 --> 01:54:26,700 | need to put a fucking resume together anymore. Because I'm not trying to get hired by any money. Nobody can employ me there's not a fucking job out there can |
| 622 | 01:54:26,700 --> 01:54:36,990 | pay what earnings marketplace that's what your mentality needs to be. Maybe not so much with the customers but that's how it has to be folks. That's how it has |
| 623 | 01:54:36,990 --> 01:54:47,490 | to be you have to resolve and yourself say You know what, this is going to be hard. But everything that you do that leads you to that once you get here once |
| 624 | 01:54:47,490 --> 01:54:57,150 | you know exactly what you're doing and it never changes once you once you learn how to ride this bicycle. It's your skill set for life. And where you want to |
| 625 | 01:54:57,150 --> 01:55:11,220 | pedal that fucking bike, how far and how high is Up to you. Nothing limits that nothing limits that look around, look around. These folks out there did not even |
| 626 | 01:55:11,220 --> 01:55:19,350 | use their own money. And he went into these other companies did their processes past their combine beat the shit out of the stuff they laid in front of them was |
| 627 | 01:55:19,350 --> 01:55:27,810 | a challenge. And they're taking down six figure plus half million dollars now. And the companies themselves are interviewing them. Where's the fucking reason |
| 628 | 01:55:27,810 --> 01:55:41,400 | to doubt it? What's the excuse that you can't do it now? Once, what is the excuse that says you, you can't do this? The ones that you're making up in your |
| 629 | 01:55:41,400 --> 01:55:54,420 | mind. The ones that you're saying, I just wish it was easier. I wish I could just do it faster. The folks that are doing it, I promise you, their fears, |
| 630 | 01:55:54,480 --> 01:56:04,170 | their biggest fear of how long it might take is a joke to them now, because they are there. Now they can do it. They know exactly what they're doing. They know |
| 631 | 01:56:04,170 --> 01:56:12,330 | tomorrow, next year, they're gonna be able to do the same shit. And they think about the things that they worried about while they are going up. When they were |
| 632 | 01:56:12,330 --> 01:56:19,770 | working their ass off going through this stuff. They were thinking about all the things you're putting in your brain right now as a reason this is what, why |
| 633 | 01:56:19,770 --> 01:56:33,570 | bother? I promise you, if you're listening, if you are listening, and you've made money, using the shit I've taught, and you felt this overwhelming fear, or |
| 634 | 01:56:33,630 --> 01:56:45,150 | I want to quit, or it's going to take me forever. Once you got there, isn't it silly? How you thought and clung to those fearful things and held them close to |
| 635 | 01:56:45,150 --> 01:56:54,960 | you like their best friends, you don't want to let go of them. Those fearful thoughts are perfect excuses for you to stop. There are excuses as to why you |
| 636 | 01:56:54,960 --> 01:57:00,810 | didn't succeed instead of saying it's normal for me to feel this way. And when you get there and you make your money and you're consistently properly, you're |
| 637 | 01:57:00,810 --> 01:57:09,660 | gonna look back at that and see how silly that was. You're gonna laugh literally out loud thinking, why the fuck that I think like that. But it's normal. But |
| 638 | 01:57:09,660 --> 01:57:19,080 | once you're there, and you look back, it's like, that was dumb. Like that was wasted fear and energy worrying about something that wasn't even that big of a |
| 639 | 01:57:19,080 --> 01:57:28,650 | factor. I just showed up every day do what I was supposed to do. And I'm here now. I can't I can't pull it back for them say, Oh, I don't like you. Let me let |
| 640 | 01:57:28,650 --> 01:57:39,900 | me take that information from you. Your your abilities are now being revoked. Like a license agreement? No. You learn that skill. You fucking earned it. You |
| 641 | 01:57:39,900 --> 01:57:48,570 | worked for it. It's yours now. Run with it. I'm just asking to share it and share with me in private what you're doing. I would love to I would love to keep |
| 642 | 01:57:48,570 --> 01:57:59,880 | up with all of you. And the folks that do well, they do that. Some of them have stepped out there in the public's eye and they see it. You see it they want to |
| 643 | 01:57:59,880 --> 01:58:08,280 | be bigger giants and titans in the industry. God bless them. I'm not trying to pull any of them down. I'm pointing to him. Look, look at they did look like |
| 644 | 01:58:08,280 --> 01:58:18,570 | they did. I didn't tell them those trades. They got to know on their own. They pushed their accounts up there on their own. That's fucking awesome. And every |
| 645 | 01:58:18,570 --> 01:58:28,350 | single one of you have the ability to do this and more. But you're sitting around worrying about oh, what if the market starts work? Who don't? Fuck knows |
| 646 | 01:58:28,350 --> 01:58:35,670 | if it's gonna stop tomorrow? Who cares? Why are you worried about all these people are learning your shit? I see. Nothing's gonna change. |
| 647 | 01:58:35,700 --> 01:58:46,890 | I'm not changing shit is not changing. Why are you wasting time making excuses for your shit? Get out there and start working towards it. You must just roll |
| 648 | 01:58:46,890 --> 01:58:54,120 | over and fucking die if that's are you thinking about it? Like, oh, well, you know, what's it? What's the point? You know, I'm out with this work. This shit |
| 649 | 01:58:54,120 --> 01:59:05,040 | job is mundane existence, you know? Because they might change everything. What if is the worst thing you could ever do? If it's holding you back, if a What If |
| 650 | 01:59:05,040 --> 01:59:16,980 | thought is holding you back? You need to flip that shit upside down and say, what if it doesn't stop? What if I get out there and I do it and I fucking make |
| 651 | 01:59:17,310 --> 01:59:28,470 | way more money than I fucking never thought I could. What happens if I do it in half the fucking time that I've been fearful it's gonna require do that. Because |
| 652 | 01:59:28,470 --> 01:59:38,940 | that's the shit I had to do. I had all those fearful thoughts. I had all that shit. And I said, You know what? There's nobody here encouraging me. So I'm |
| 653 | 01:59:38,940 --> 01:59:47,940 | gonna look at this. Like I'm a fucking underdog. The world says I can't do it. My friends and family says I can't do it. My wife left me I'm fucking broke. I'm |
| 654 | 01:59:47,940 --> 01:59:58,530 | going to change shit. Now. I'm going to fucking do this. They said I can't do it. I'm going to find 81 but in ways to do it 81 I pair a motherfucker out there |
| 655 | 01:59:58,530 --> 02:00:05,460 | to say they got more fucking entry techniques. There's a fucking person want to can do that I will tap dance every fucking day on leads fucking markets and do |
| 656 | 02:00:05,460 --> 02:00:13,110 | whatever I fuck I want to walk out the fucking door profitable Dana fucking thing I can't do in these markets and when you know how to do this shit you'll |
| 657 | 02:00:13,110 --> 02:00:23,040 | feel just like that and if they want to say you're arrogant then they're broke. They're fucking working they don't give a fuck about anything that's successful |
| 658 | 02:00:23,040 --> 02:00:29,280 | because they can't fucking do it. They want to drag you down. I'm telling you I'm grabbing you by your fucking hair. I'm getting your fucking ass up here with |
| 659 | 02:00:29,280 --> 02:00:41,160 | me talk here. Come up here you're laying around these low vibration fucking morons you're listening to people that are fucking broke their plant and you're |
| 660 | 02:00:41,160 --> 02:00:51,840 | taking this bullshit and you're listening to it and you're taking it, you're subscribing to it and you're holding yourself back from what? Or what? You're |
| 661 | 02:00:51,840 --> 02:01:00,300 | afraid someone's gonna say something bad about your mind. Fuck these fucking broke motherfuckers the people are talking about us they're fucking broke. They |
| 662 | 02:01:00,300 --> 02:01:11,250 | can't come here and cancel shit. Look at this fucking army we are like how many motherfuckers are coming up? This crop ain't done growing. We were climbing. |
| 663 | 02:01:11,460 --> 02:01:20,100 | Okay, everything that you're seeing around here this Jimmy even when I'm fucking slowing the fuck down. It's still gonna grow. Everybody's gonna be doing this |
| 664 | 02:01:20,100 --> 02:01:27,150 | shit in the future. And I'm gonna say You know what? This shit is the real fucking thing. This is the real shit. I wish I'd never would have done this this |
| 665 | 02:01:27,150 --> 02:01:35,010 | this this I wish I would have started sooner. Every person that's made fucking half $1,000,000.20 $1,000 We're talking is they've always said the same thing. I |
| 666 | 02:01:35,010 --> 02:01:42,030 | wish I wouldn't listen to the bullshit that people say about ICP and his fucking concepts. I wish I would have started fucking sooner. I'm gonna try to block out |
| 667 | 02:01:42,030 --> 02:01:50,430 | all the bullshit because this is it. This is exactly what I was looking for. And I wish I would have started sooner. Everybody fucking says that. Everybody says |
| 668 | 02:01:50,430 --> 02:01:58,920 | that nobody that put their efforts into this then fucking started making money said I regretted doing this. Fuck this. I don't like all this fucking money. I |
| 669 | 02:01:58,920 --> 02:02:07,830 | don't like this fucking success. I don't like this fucking continuity. I hate being this fucking calm going into marketplace. I can't stand not fucking being |
| 670 | 02:02:07,830 --> 02:02:14,820 | able to be a consistent loser. I want to fucking just stay in bed because it's just the same thing every day. I go out and I know what I'm looking for it and |
| 671 | 02:02:14,820 --> 02:02:21,900 | happens. Does that happen here? No. Everybody's calm folks. I'm the only one that gets fucking nuts |
| 672 | 02:02:27,060 --> 02:02:39,660 | Yes, this is the first time it's unfiltered here. I'm not supposed to be listened to with your kids next to you. But there's a whole lot of bullshit in |
| 673 | 02:02:39,660 --> 02:02:47,160 | this industry. from people that don't make no motherfucking money they can't produce a fucking millionaire student ain't got no profitable fucking students. |
| 674 | 02:02:47,190 --> 02:02:59,160 | They got a lot of chitchat. Not a shit talking. ain't done shit. Ain't no receipts ain't done shit. And you're letting them these low vibration. Fucking |
| 675 | 02:02:59,160 --> 02:03:10,770 | cretins. These little fucking waste of fucking breath mutants, they're sucking bringing you down. They're bringing you down. You want to be with them, you want |
| 676 | 02:03:10,770 --> 02:03:20,880 | to hang with them. The adult I don't roll like that. I don't roll with fucking people that says I can't do something because I'm going to believe them. I'm |
| 677 | 02:03:20,880 --> 02:03:28,470 | going to agree with them. And I'm moving. I'm not staying there. I'm not pitching a tent around people that says it can't be done. Something I can't do |
| 678 | 02:03:28,470 --> 02:03:34,560 | it. I'm gonna find multiple ways to come back in your fucking face and say, here's this way I did it. This is the way I did it over here. This is the way I |
| 679 | 02:03:34,560 --> 02:03:46,590 | did it here. This this this you got to motivate yourself. You got to stay motivated. It's not going to be easy. It's going to take a lot of effort, a lot |
| 680 | 02:03:46,590 --> 02:03:58,860 | of real effort, not just watching my fucking videos. It's I say all the time. Watching them is not learning. It might inspire you. It may give you reasons to |
| 681 | 02:03:58,860 --> 02:04:10,500 | stay at it. But that is not to replace you going into your own charts. Studying them go into old moves. At the times I tell you when these specific models |
| 682 | 02:04:10,680 --> 02:04:23,580 | present themselves go back in old moves. Forex futures commodities I don't give a fuck what it is. You go out there and you prove to yourself there's never been |
| 683 | 02:04:23,610 --> 02:04:32,790 | ever there has never ever been a motherfucker ever came back and said I went through all this stuff and I tried to look for it to fail. And it's always |
| 684 | 02:04:32,790 --> 02:04:41,160 | there. It's never fucking happened. No one's ever came out and said it shit doesn't work with facts. It's never happened. Now you got some Tom Dick and |
| 685 | 02:04:41,160 --> 02:04:48,510 | Harry that wants to fucking try to get ad revenue on a fucking YouTube channel ain't got shit going on in his life, Misery. He'll say all kinds of shit and |
| 686 | 02:04:48,510 --> 02:04:54,960 | people like him will say all that kind of shit, but there's no actual fucking evidence. What do you do when you have all these people around the world, |
| 687 | 02:04:54,960 --> 02:05:03,360 | different walks of life and they're coming forward and they're making real money and not one time. Pretty. Every fucking fund the company has ICT profitable |
| 688 | 02:05:03,360 --> 02:05:11,970 | students Hello? Where are the fuckers their students making money? Where are they making money? It ain't fair. But you're listening to this bullshit, you're |
| 689 | 02:05:11,970 --> 02:05:27,360 | listening, you're entertaining that you have to block out everything, everything, keep the focus on you. If you do that, I fucking guarantee you will |
| 690 | 02:05:27,360 --> 02:05:39,870 | find your model. And when you do, don't tinker with it, no add more to it. No matter what I teach in the future, don't do anything else. Except the fact that |
| 691 | 02:05:39,900 --> 02:05:47,700 | sometimes you're going to do it wrong, except the fact that it might not deliver on the day that you tried to trust it. It doesn't mean it's broken, it doesn't |
| 692 | 02:05:47,700 --> 02:05:56,850 | mean that you can't be profit doesn't mean you're a terrible trader, it just means that you messed it up. You did own it, come back the next day. The next |
| 693 | 02:05:56,850 --> 02:06:07,650 | opportunity, if you do that, you will be lightyears ahead of everyone else because everybody else will want to change. Oh, I tried this PDE array, I tried |
| 694 | 02:06:07,650 --> 02:06:15,630 | this fair value gap. It didn't work for me tries breaker now. I tried to break it didn't work, I'm gonna go into institutional order flow to go back to ote |
| 695 | 02:06:15,630 --> 02:06:21,960 | didn't work for me. Then when I tried it three times, I tried to call it experience and back testing. On the fourth time, it failed to me. So we're gonna |
| 696 | 02:06:21,960 --> 02:06:29,910 | see oh, he's got he's got something that's gonna teach. I mean, let me look at that one, too. That's not somebody that's really making a conscious effort. You |
| 697 | 02:06:29,910 --> 02:06:42,540 | need to be very diligent about doing these things and be very passionate about why you're doing it. If you're not in this, if you're not in this to make a |
| 698 | 02:06:42,540 --> 02:06:53,520 | shitload of fucking money, then you're here for the wrong reasons. That's it. That should be the motivating factor. Lots of fucking money, because that's |
| 699 | 02:06:53,520 --> 02:07:04,140 | what's available. If you can control yourself and you know what you're doing. If you can't do those things, manage yourself your emotions. Start with a low |
| 700 | 02:07:04,140 --> 02:07:13,500 | hanging fruit approach and build up slowly blocking out all the bullshit. And that means people that want to suck your own ass off to get on social media and |
| 701 | 02:07:13,500 --> 02:07:23,190 | people like oh, they love you, they pander to your destiny and you don't realize how much of a impediment that is? Because once you start listening to that, and |
| 702 | 02:07:23,190 --> 02:07:30,060 | this is exactly what happened to be on America Online. That's why I don't like it. I can't fucking stand you. When you say I'm the goat the greatest of all |
| 703 | 02:07:30,060 --> 02:07:39,300 | time. I see that as your a piece of shit ICT because I think everybody that calls themselves a goat is a fucking piece of shit. Poser motherfucker. Can't do |
| 704 | 02:07:39,300 --> 02:07:51,930 | shit. There is no goats. Okay, there's no goats. There's no greatest of all time and trading. I'm not a fucking King and a new fucking other king out there. Stop |
| 705 | 02:07:52,110 --> 02:08:00,300 | pandering to people like that. Stop worshipping them. Don't worship me. No, I don't need it in that kind of fucking attention. Just say thanks. That's enough. |
| 706 | 02:08:00,330 --> 02:08:10,350 | That's all it is. But when you when you allow that stuff in, or you start being a part of it, and you're in your glad handing with other people online, whether |
| 707 | 02:08:10,350 --> 02:08:21,180 | it be me or anyone else. You're literally doing all the wrong things, you're making it emotional. There's no reason for that stuff. I'm here, I'm a conduit. |
| 708 | 02:08:21,390 --> 02:08:30,990 | Whether you tell me you love me or you don't love me, I'm still gonna be doing that shit. So it's not required. I'm going to be doing, I'm still going to post |
| 709 | 02:08:30,990 --> 02:08:37,590 | videos, I'm still going to post the shit we got until November, none of this is going to slow down because I don't have enough people call me. I don't want to |
| 710 | 02:08:37,590 --> 02:08:47,520 | be caught together. With this, it's it's important that none of you fall into that trap. Whether you're dealing with me or someone else, or that you seek it |
| 711 | 02:08:47,520 --> 02:08:59,160 | yourself. Because as soon as you do that, you've now invited emotion dopamine hits, it's not about that. All of that is going to be impactful to your decision |
| 712 | 02:08:59,160 --> 02:09:10,380 | making your trading because whatever you did, I'll paint this picture for you and I'm gonna close this. Whatever you did that causes that social media |
| 713 | 02:09:10,380 --> 02:09:22,170 | response. You know, you're the goat or that was amazing. Or you're a beast mode or whatever. You're gonna want to do something again. When something creeps into |
| 714 | 02:09:22,170 --> 02:09:28,560 | your life, something bad sometimes uncomfortable, you don't feel good. You woke up with a bad stiff neck and you're just miserable because you can't get |
| 715 | 02:09:28,560 --> 02:09:36,600 | comfortable. I just need to I need to feel good about something. Let me get somebody to call me the goat online. Give me some reason to say I'm awesome |
| 716 | 02:09:36,600 --> 02:09:43,140 | fucking trader. So you're gonna go out there and you're gonna try to create something in your account. Why? Because the trades there No, because you want to |
| 717 | 02:09:43,140 --> 02:09:52,920 | do something out side and external to why your model would be telling you to take a trade. It sounds simplistic. It sounds like when they say this is |
| 718 | 02:09:52,920 --> 02:10:00,630 | nonsense. No, this is exactly what people do. And they blow their fucking asses out. Their accounts are gone. They're wrecked and they ruin themselves. It all |
| 719 | 02:10:00,630 --> 02:10:12,750 | stems from something simple like this because you've invited emotion into it. And that's exactly what my son did. He wanted to come out and prove to the world |
| 720 | 02:10:13,440 --> 02:10:25,620 | that ICT Jr is now born. And here it is, he wants to go out and run around on social media, Instagram, Twitter, YouTube MBMs. He still might be, but he's got |
| 721 | 02:10:25,620 --> 02:10:35,130 | to learn how to be a menace in the charts. First, he's got to be formidable in the charts. He can have all the and to want to do it right now. But without the |
| 722 | 02:10:35,130 --> 02:10:49,050 | skill set that can be acquired with time and effort and a whole lot more effort now. They won't happen otherwise. Just because I'm Daddy ICT just because he's |
| 723 | 02:10:49,080 --> 02:10:59,370 | my son does not give him that built in advantage. There's no broken and then there's no advantage at all. And with me sitting next to me, with all the things |
| 724 | 02:10:59,370 --> 02:11:09,660 | is going on in his mind, I have to now arm wrestle him and make him conform in the things that he doesn't see as the right way. Now, just like some of you |
| 725 | 02:11:09,660 --> 02:11:15,930 | probably already turned this sort of space off. Because doesn't you think it doesn't apply to you? I guarantee you haven't made money. If you did, the folks |
| 726 | 02:11:15,930 --> 02:11:23,880 | that turn this off, are the ones that think that they can go out there and watch a five minute trainer video, watch some kind of horseshit, go in and watch my |
| 727 | 02:11:23,880 --> 02:11:30,510 | video. And they should be able to walk out and be profitable and pass upon that account challenge the first time and start making $20,000 a month and payouts |
| 728 | 02:11:31,140 --> 02:11:38,790 | that's the people that turn off these parts of the video or these don't they don't listen to these discussions. Because they're they have their they have |
| 729 | 02:11:38,790 --> 02:11:47,220 | their own head up their own ass, they can't see where they're at. They don't know the lay of the land. They've never been there before. And they believe the |
| 730 | 02:11:47,220 --> 02:12:01,950 | bullshit that's online. So, yes, it's difficult. Yes, it's intimidating in the beginning. But you have to have this approach that you're not going to stop. |
| 731 | 02:12:03,240 --> 02:12:12,480 | Nothing is going to deter you nothing's going to talk you out of it, you or someone else. And you have to guard your mind. Every single one of my profitable |
| 732 | 02:12:12,480 --> 02:12:21,930 | students will tell you the same thing. They have to at least canceled the influence of other people that says they can't do it, whether it's their friends |
| 733 | 02:12:21,930 --> 02:12:29,520 | or family or co workers or people online that know him. Four, they completely cut it all off. |
| 734 | 02:12:32,550 --> 02:12:44,580 | That's not a cult. That's someone that's secluding themselves for intimate study. If you ever went to college, and you're studying for your final exams, |
| 735 | 02:12:45,630 --> 02:12:56,580 | did you go and just study in a public space where there's a lot of noise, and people can talk to you and do that at work? No, it would be unprofitable. It |
| 736 | 02:12:56,580 --> 02:13:09,930 | meant something to you, you had to put a lot of effort into that. Well, this is much worse than that. Because it's you, you are in the way what you think you |
| 737 | 02:13:09,930 --> 02:13:17,940 | should be able to do what you're afraid of what's going to happen to you what happens if this happens, what happens, you're worried about things that aren't |
| 738 | 02:13:17,940 --> 02:13:27,270 | there yet. And if you do the things I'm telling you to do, and you develop a good work ethic, and journaling. When you encounter the things you're afraid of. |
| 739 | 02:13:27,990 --> 02:13:35,730 | And by hearing what I'm telling you to do, and how to cope with all those things, they won't be so terrifying and scary. And the first thing you'll do is |
| 740 | 02:13:35,730 --> 02:13:45,540 | stop. It's not an invitation to go press a button. If you're uncertain if you're scared. There's no There's no shame in that. Stop. Now, there's going to be |
| 741 | 02:13:45,540 --> 02:13:51,810 | people out there on Twitter that will say partials are fucking stupid, and you trade like a policy. And they don't ever show you them executing. And they're |
| 742 | 02:13:51,810 --> 02:13:59,610 | gonna give you every reason why everything I just said in this lecture tonight is counterproductive and counterintuitive. But I'm going to tell you that you |
| 743 | 02:13:59,610 --> 02:14:12,480 | have to reward yourself along the way you have to do it. That means when you feel staying in a move and you're brand new, get out. It's so much better to do |
| 744 | 02:14:12,480 --> 02:14:22,020 | that. And then see if it pans out in your favor. It's okay, I wasn't comfortable there. I got out. It allowed me to have a clearer perspective of what the Mark |
| 745 | 02:14:22,020 --> 02:14:28,530 | was done because now I'm not influenced by the profit and loss of it. And then I'm now encouraged because if I just stay with it, it I'll remember this trade |
| 746 | 02:14:28,530 --> 02:14:38,550 | next time. And then I'll try to stay with a little bit longer. And you gradually grow into that. Nobody walks out there and does a full pool from entry stop loss |
| 747 | 02:14:38,700 --> 02:14:45,720 | and full target no partials. It just goes right to the thing and they just did it first time and that's how their trades are all the rest of their career. It |
| 748 | 02:14:45,720 --> 02:14:55,260 | doesn't work like that, folks, it does not work like that. If it did, they'd be on there showing you executions and so on so we can do and then they're not |
| 749 | 02:14:55,260 --> 02:15:07,200 | doing so anyway I got that off my chest today because it was a little it was a little much for me to sit there all day and go through a whole lot of stuff that |
| 750 | 02:15:07,230 --> 02:15:16,890 | could have been easily avoided if you would have listened to me but we're on the right path. And you are to discuss stay with it. Hopefully you got something out |
| 751 | 02:15:16,890 --> 02:15:25,440 | of this tonight that was helpful. Give you some encouragement. If anything. I made you laugh and you had some entertainment value out of it. That's that's a |
| 752 | 02:15:25,440 --> 02:15:34,290 | win too. Okay, so I'm going to close this one and wish you all very pleasant evening, pleasant day and I'll talk to you next time. Be safe. |