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Last modified by Drunk Monkey on 2023-07-30 06:26
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1 == Outline ==
2
3 035-ict-tw-spaces-20230730-Advice-For-The-Son-Who-Trades-original
4
5 ##00:45 -## Opening Introduction.
6
7 - Good morning, and welcome to the show. A five by five tweet break to be able to know that you guys can hear me, and if not, reset it and start it again.
8 - The first day of the show is going well, having a wonderful, wonderful Saturday.
9
10 ##03:18 -## Advice for a son who trades.
11
12 - This is more or less an advice for a son who trades, and it's easy for all of you to take this as a means of building a foundation.
13 - Funded account trading.
14 - My son cameron, who just recently turned 18, took it upon himself to try to prove to the world that his dad is ict and he can teach people how to do this.
15
16 ##06:59 -## The worst thing to do.
17
18 - He's very good at that and he's never had any kind of hardships in his academics. He's homeschooled. He felt like he was going to conquer everything and go on youtube and troll me.
19 - He's not prepared, but left to his own devices, left to do something emotionally, which would have been toxic.
20 - He wanted it to be easy for him, but he has to do it that way. He has to be willing to lose as much money as he can afford.
21 - He had four funded accounts going, but one of them he lost, and he bitched about it.
22 - Less than 20% of his listening audience is going to be successful, and human nature is what it is, you don't have any sense of accountability except for your own.
23 - The most arrogant one is the one who's going to go out there and conquer features without your money.
24
25 ##14:03 -## Should you have a trading mindset?
26
27 - Everything in trading should be personal. Nana wants her students to strive to have their own business and treat trading as a personal business.
28 - Nana wants to help her students identify the things that might become a province they don't recognize right now.
29
30 ##17:05 -## The importance of having the right mindset in your trading.
31
32 - How easy it is to walk into the markets and say that the market is mine, but you have to be careful and dial back your risk.
33 - The geopolitical situation is ripe for intervention.
34 - Trading as a way of getting past some kind of uncomfortable state, whether it be financially or emotionally, the two factors.
35 - Quit your job in 90 days trading as a silver bullet, but if you have the right mindset, you can do it.
36
37 ##22:57 -## Can I get a vacation on this week?
38
39 - I don't want my children ever to have to ask for a vacation on this week.
40 - I went through 28 paying jobs in my lifetime, including a rubber tube manufacturing place.
41 - He failed as an employee because he shines as an entrepreneur. He's not made to be somebody's slave, and neither are you.
42 - His kids aren't lazy. They're not lazy.
43
44 ##26:31 -## The importance of earning money.
45
46 - Trading time, energy and lifeforce for 40 hours of work for a minuscule amount of money, and feeling good about it.
47 - The perfect opportunity for him to get paid.
48 - Her parents don't understand what they do as traders. She makes more than both of her parents gross annual income in one day in 124 hour interval.
49 - Her son wants to do the same thing she did with him when he was 20 years old.
50 - He has a warrior mentality and wants to go out there and show that he's definitely going to be a youtuber. He wants to be that guy that teaches enigma.
51 - He still has to correct some things. He has a four year plan.
52
53 ##33:45 -## The importance of having a property before marriage.
54
55 - A man and a woman should have a property before they marry, because it's just the way it is.
56 - A young adult should strive to secure a residence free and clear before they ever consider getting with someone, because that creates codependence.
57
58 ##36:50 -## The importance of living up to the expectations.
59
60 - It makes it harder to live up to some expectation. You have to have some money in the bank after paying off the first property.
61 - There is no excuse for you guys to go out there and go in with these fast expectations for yourself.
62 - Being behind the veil of protection because he is not a licensed financial advisor.
63 - His son wants to be me all over again, and the only way that is possible is if he listens to me, nobody else is going to teach him how to be better than me.
64 - You have to have a foul-mouthed ict and talk to your children like that sometimes. Sometimes passion comes through with no filter.
65 - The most popular funded account challenge.
66
67 ##43:59 -## Trading with multiple mini contracts.
68
69 - Trading with multiple mini contracts trading with 50,000 are funded accounts is the worst money manager there is.
70 - The companies that do these things may have a lot of things to say about these things, and truth be told, if these things were made available to me, I would have done it.
71
72 ##46:50 -## What is a funded trading account?
73
74 - There are a lot of people doing it, but there is no funded account with topstep for 50,000 hours. There is no $50,000 funded account.
75 - If michael runs topstep, he would keep the pay structure they have right now.
76 - If you have a $2,000 trading account not 50,000, you have 2000 and you're paying $165 a month, you're basically in a credit card format.
77 - You're paying the equivalent of eight and a quarter percent interest whether you make money or not, regardless of whether you're profitable.
78 - Trading with a mini contract is a viable option if you follow the rules and are comfortable taking a loss.
79 - If you follow these rules, you stand a far better chance than doing anything else out there. You have such a small edge to walk on.
80
81 ##55:05 -## How to use the bazooka.
82
83 - They all are inviting you to use the big battle axe. Come in here and use the bazooka. Use the big axe. You can trade up to 15 contracts with a $4,005,500 account.
84 - Show us how you got paid out at the end of the year on Monday.
85
86 ##57:49 -## The importance of having a family fund management account.
87
88 - He has to learn how to do it independent and successfully independent from me. He has to do this himself.
89 - He has a goal of hitting $650,000.
90 - The goal is for him to know how to do this on his own and carve out anywhere between 7500 to 10,000 hours a week.
91 - August is a weird month for trading.
92
93 ##01:01:47 -## They're human just like you.
94
95 - The problem is they are human, just like you are, and you want to rush to the end goal.
96 - The rule is, if you fail, that means that you failed.
97 - The second guest has nothing to beat himself up, but he has to show up at the right time and do exactly what these roles are.
98 - Scott is a strong, arrogant, arrogant man.
99 - The boy makes $400 a week working in a coffee shop. He gets paid every two weeks, so he has to wait two weeks before he gets his ends met.
100 - The first rule is to duplicate your income and spend your ends. You have to learn how to trade.
101
102 ##01:08:06 -## Have your bills and spendable expenses.
103
104 - You have to have your bills, your spendable expenses, and you have to be able to pay them.
105 - Don't take american express money.
106
107 ##01:09:46 -## Discover card and how to use it.
108
109 - Setting a goal to make $1,000 a month and doing it three months in a row.
110 - Every successful weight loss program or training regimen does at least 90 days.
111
112 ##01:13:08 -## The problem with funded account trading.
113
114 - What it's like to be on a live session, and the ease or the ease of being cheaper.
115 - The approachable benefits to being cheaper to be able to trade.
116 - I had to get involved and intervene and tell him to have a structured mindset and not swing for the fences.
117 - You cannot afford to trade ethereum contracts.
118
119 ##01:16:52 -## Trading one micro contract per contract.
120
121 - Trading one micro contract is all a trader can afford to trade, but if they are a better trader, they can trade a second micro contract.
122 - Trading minis for the S and P E mini contract for one point is four ticks, or the equivalent of $50 in change of fluctuation.
123 - My son is about to do this very thing with a micro, not even a mini. He's not even going to do near what they say they're offering to you.
124 - You can trade five micros, no $2,000 increments. That's what affords him one more micro
125
126 ##01:22:58 -## These are the rules he must follow.
127
128 - His son has one micro for Nasdaq, and he cannot trade another micro until he makes $2,000, which is a slow call.
129 - Finding consistency and business-oriented mindset as a trader.
130
131 ##01:25:23 -## How to be boring in trading.
132
133 - The first minute or two in the trade is the only time of the trade, because you are trading with the maximum amount of money allowed.
134 - The math behind trading with one mini, and how it can lead to a loss on a $50,000 IRA funded account.
135 - He tries to be a voice of reason and be consistent about it, and not get juiced up on the emotions of greed.
136 - He wager that you're not seeing a $10,000 growth in the same account for six weeks, but you'll receive that because it's a big selling point.
137
138 ##01:31:37 -## Stop trading when you get a losing trade.
139
140 - You have three chances to do this model. When you get one, cameron, stop and don't do another one. If you have a losing trade, stop.
141 - How many trades could you have avoided.
142 - If you can afford to use a 20 handle or 20 point stop loss on Nasdaq, you stand to make 80 bucks if you are right.
143 - The rules are there.
144
145 ##01:35:43 -## How do you make money when the market drops?
146
147 - He was short on nasdaq and his youngest son was sitting with him. He was watching the market go down below these relatively low lows and pointed to the chart.
148 - He was able to make money by borrowing a pikachu card and selling it to someone who would sell it to him.
149 - How to make $11,000 in less than an hour, and how to control the amount of exposure to the risk.
150 - How to mitigate drawdown and keep it controlled.
151 - You don't know what it feels like to be profitable. It's like a fucking drug that you've never had before, and you want it as soon as you get it in that 32nd initial initial.
152 - The first buzz that you get from being a profitable trader.
153
154 ##01:43:02 -## What does it feel like to have a profitable trading mindset?
155
156 - You have no idea what it feels like to have that profitable state of mind until you've never been there before.
157 - When cameron first had a profitable trade with real money.
158 - The feeling of accomplishment is the only reason why Cameron is trading, not anything else. Cameron is an amazing drawdown artist and account liquidator.
159 - The first rule of making money.
160
161 ##01:46:42 -## Comparison of price delivery on micro and mini.
162
163 - There will always be some discrepancies between the delivery on the micro and the mini, and why cameron uses a 20 handle stop loss.
164 - The micro is a little bit more volatile.
165 - You don't need to do the math on all this bullshit that people write books about. You can make money with a one to one ratio.
166 - The multiples that people say you have to have or you're going to lose, like three to one minimum.
167 - Planting plans need to be highly manipulated at that time, just like non-farm payroll. Chart is highly manipulated, so there's manual intervention and you can't trust your chart.
168 - To remove all the bullshit that people say about him and what he teaches, he has a 60 minute interval three times a day.
169
170 ##01:54:24 -## How do you stop a trade?
171
172 - Five handles to make 10 handles, and how the model is slated towards nasdaq trading.
173 - How the fair value gap can exist to the left prior to 10 o'clock.
174
175 ##01:57:14 -## You have no excuses.
176
177 - The money manager aspect is absolutely in iron. You can only trade one micro for every $2,000 in equity right now.
178 - The quality of trade setup, execution and risk management.
179 - You're paying an interest payment of 8% a month on money that doesn't exist whether you trade or not, and capitalizing on the likelihood that most people don't have financial literacy.
180
181 ##02:01:30 -## What happens if you lose your money?
182
183 - He has less than 1000 hours a month in expenses. His ends are literally less than $740 a month.
184 - What happens if he loses and drops below 52,000
185 - I've already entered the chat. ict is in this now. The boys is getting where he's going to get by a bhutanese as or it's a little bit longer duration, but he's not working the rest of his life.
186 - Trading with big money is stressful and stressful.
187 - The testimony of someone who is absolutely gambling and over leveraging. They are telling on themselves. They have no control of themselves and are over leveraged to the gills.
188 - Everything in Las Vegas stays in las vegas.
189
190 ##02:08:40 -## The money is the least important thing.
191
192 - Money is the least important fucking thing. The only time money is important is when it's time to pay taxes or settle with uncle sam.
193 - Trading for a new startup.
194 - Try to get money real fast, try to get rich real quick, and try to overleveraged. You only make money with big positions.
195 - Get a funded certificate is nothing.
196
197 ##02:12:37 -## How to beat the shit out of a funded account.
198
199 - How to beat the shit out of a funded account and how to make money from a real brokerage account.
200 - How to outpace inflation and make money.
201 - You want to turn this into a fucking spectacle. You want to entertain yourself and watch from afar. You don't want to listen.
202 - You have to listen if you don't.
203 - When he was younger guy, he came from a very very very low income family, and he didn't feel like he was from a low-income family because they didn't measure things on the basis of money.
204 - As a young man, he was looking for a mentor, looking for someone outside of books and tapes.
205
206 ##02:19:39 -## How much money should you be risking?
207
208 - Vinnie doesn't give a fuck what anyone's opinion of him, because he'll beat the shit out of the market. He'll trade outside their ass and literally run circles around them.
209 - When he was younger, he didn't know what it was like to have money, and he had no idea what was considered good money.
210
211 ##02:22:49 -## The marginal effect of time on volatility.
212
213 - The only aspects between forex and futures that have a very small marginal effect of time, and the specific times of the day that certain setups form.
214 - Trading in the morning.
215 - If you want to be a failure, make your own fucking bullshit. Don't listen to safaricom and other people.
216 - The 18 months that someone can consistently do 6% per month.
217 - For those who have never done any advanced math beyond rudimentary math, apply it to risk management. Compound interest in the hands of someone that's capable.
218 - How to use compound interest.
219
220 ##02:28:22 -## Rules of engagement.
221
222 - You didn't fucking listen. You can't follow rules. This is a reason why you're failing. You don't need a dad. You need to be grabbed by the lapels.
223 - If you tried to study how to trade and tried to trade with money before you were ready, you failed. You failed by trying to trading with real money.
224 - If you have six months of real data, you are not equipped to do that.
225
226 ##02:32:16 -## Do everything I say to do and stay silent.
227
228 - I'm done. Come forward with your results or remain silent, because nobody has time for your mickey mouse fucking opinions.
229 - I stayed a year longer on his application on Twitter than I wanted to be on Twitter. It's bull shit.
230 - Aaron, don't tinker with the fucking rules. Don't bring your bullshit gang into the discussion, unless it's part of the issue in the model that's being exposed.
231 - This is the time of the day, if you don't have a trade, you cannot take a trade.
232 - When making five figures a week, why the fuck are you going to push it? Live your life. Some of you will find the very existence that is phenomenal for you, and you don't have to make a million dollars a year.
233 - You can do whatever you want to do.
234
235 ##02:40:09 -## Everybody wants it easy.
236
237 - His son is not the only one who wants it to be easy. He knew when he was younger that it was going to be hard, so he decided to give himself 20 years.
238 - He wants to live above his means and not have to work when he is 40 years old.
239 - When he was done reading the book, he had a new appreciation for money, and it gave him an exit.
240 - He wanted to be a system analyst.
241
242 ##02:43:47 -## How I got into trading futures.
243
244 - At 11:30, michael was excited about something he barely knew anything about, and how many times his uncle brought it up when he was a younger teenager.
245 - He was being conditioned to trade futures and options, and the lord had this for him.
246 - The speaker is not trying to be a celebrity. He doesn't want to go on top shows or be on any of that stuff.
247 - He wants to take the advantage of not having all of this time invested in all of you.
248 - A lot of you are still shy, and there will be a void once he's gone. He's going to show everybody this analysis that he's done.
249 - Some of you have been writing him emails telling him he's selfish and ignorant because he's not willing to teach.
250
251 ##02:51:29 -## The toxic relationship he had with himself.
252
253 - In the first couple of years of his trading, Cameron felt like a traitor. He had a toxic relationship with his first wife and lost his grandfather, the only parent he had.
254 - Cameron had to give himself permission to stop trading for a week or two and grow past it.
255
256 ##02:54:41 -## The importance of consistency in trading.
257
258 - You have to be comfortable accepting periods where you lose money, and it might be a series of them.
259 - The learning experience that you get without losing money is astronomical in the times that you do that, because it goes the other direction.
260 - Experience is going to be the best mentor. The only thing he's been is the conduit to say, here's a language, look at the charts, this is what it's telling you, and if you're not ready, wait for the next one.
261 - The initial entry has to happen between 10 o'clock in the morning.
262 - Trading is algorithmic. It's doing something it was going to do regardless of how many people buy and sell period and a story that's all about it.
263 - Saturday get back to
264
265 == Transcript ==
266
267 (% class="hover min" %)
268 |1 |00:00:45,210 ~-~-> 00:00:59,940 |ICT: Good morning, folks. Not sure if you guys can hear me good. The volume is good if it's okay audio me a five by five tweet break to me not be able to know
269 |2 |00:00:59,940 ~-~-> 00:01:05,790 |that you guys can hear me fine. If not I'll reset it and start it again
270 |3 |00:01:19,140 ~-~-> 00:01:31,080 |Awesome, awesome, awesome. hope everybody's doing well. I am actually having a wonderful, wonderful Saturday, I enjoyed the first day, if you guys give me a
271 |4 |00:01:31,080 ~-~-> 00:01:40,590 |couple minutes, I promise it'll be like three minutes or less to update you on everything personally. But I lost one of my boxers on the 11th of this month.
272 |5 |00:01:40,680 ~-~-> 00:01:56,310 |And that's been very depressing for me. And I've really not had a whole lot of mojo Hoda to get him produce much content or do very much of anything. So in our
273 |6 |00:01:57,360 ~-~-> 00:02:08,820 |struggle of dealing with that, because I view my pets as part of my family, they're not just dogs, okay. And she's always been a very important part of my
274 |7 |00:02:08,820 ~-~-> 00:02:18,030 |life and my family. So we were hurting, I was hurting a lot. And I told my wife, I said, I'll never get another dog. Like I can't do it anymore. And I realized
275 |8 |00:02:18,030 ~-~-> 00:02:26,310 |that I need to have someone else to love in addition. So I talked, so let's go get another boxer. We went and got two of them. So I said, Well, if we're going
276 |9 |00:02:26,310 ~-~-> 00:02:34,470 |to get one, we gotta get two. Because Bailey, you know, she's getting over two. And if she passes away, you know, we're gonna be in that same situation. So we
277 |10 |00:02:34,470 ~-~-> 00:02:47,790 |bought two boxers that are absolutely beautiful. Piper, and scout are the names. So scouts, the brindle colored women fall on his scalp. So anyway, I'm upbeat,
278 |11 |00:02:47,850 ~-~-> 00:02:56,880 |I'm having a wonderful time. Yesterday, I tweeted, I said, a teaching later today, I was so out of whack. I thought it was Saturday. Like I literally
279 |12 |00:02:56,880 ~-~-> 00:03:02,970 |thought it was Saturday when I sent that tweet, and I blocked some, some guy saying if you're gonna make a commitment to teach something stick to it, I had
280 |13 |00:03:02,970 ~-~-> 00:03:12,150 |to block that guy. Sorry. So if you respond under another account, just don't don't do that stuff to me again, because I don't owe you anything. But that's
281 |14 |00:03:12,150 ~-~-> 00:03:21,690 |where I've been for last couple of weeks, mentally, I've just been not really in it. So today's discussion, we're gonna get to it. Now. I mentioned in the title,
282 |15 |00:03:22,440 ~-~-> 00:03:35,160 |it's more or less an advice for a son who trades. And it's easy for all of you to take this also as a means of building a foundation. The assumption is that
283 |16 |00:03:36,270 ~-~-> 00:03:45,480 |the listener has gone the route of a funded account trader. Now I'm going to say some things in here, that's going to probably piss off a lot of the cognitive
284 |17 |00:03:45,480 ~-~-> 00:03:54,480 |account companies. It's not my intention to do that. Because if it was my intention, I would just tell my son don't do it. And I would just throw 50,000
285 |18 |00:03:54,480 ~-~-> 00:04:06,900 |hours into an account and say, Here, let's just do that. But he wants to do this on his own. And I have to appreciate and respect that as any father would. I
286 |19 |00:04:06,900 ~-~-> 00:04:16,500 |don't think it's the right way for him personally. And he's found that out. Okay, so just know that if you're going to be a funded account company, and
287 |20 |00:04:16,500 ~-~-> 00:04:29,130 |you're listening into this, just know that I don't have any particular beef with any single one of you. But I know that there are a great deal of hurdles that
288 |21 |00:04:29,130 ~-~-> 00:04:38,910 |the average person goes through. And while it may be said that funded account, companies do this and do that for the client. There are some things that are
289 |22 |00:04:39,030 ~-~-> 00:04:48,000 |glaring, obvious mathematical hurdles that most people don't look at it. And I'm going to kind of like talk about that today. So it kind of makes it even harder
290 |23 |00:04:48,000 ~-~-> 00:04:56,250 |than trading really is. And I'll touch on that and my son now knows what that feels like, which is what I was trying to spare him up. And once you have those
291 |24 |00:04:56,250 ~-~-> 00:05:09,630 |cuts, once you have those deep cuts mentally about losing about measuring up and falling short of goals, which is fine, that part's fine, falling short of a
292 |25 |00:05:09,630 ~-~-> 00:05:20,160 |goal, as long as you're moving in the direction of your goals. And my belief is that that's fine. Because nobody's gonna get it 100%, right from the first step
293 |26 |00:05:20,160 ~-~-> 00:05:29,610 |into any journey, it just doesn't work that way. And this is absolutely not going to be the case for any of you. Because it's very challenging. So,
294 |27 |00:05:29,760 ~-~-> 00:05:43,920 |obviously, I mentioned over the last couple of months that my son Cameron, who just recently turned 18, in February, he's took it upon himself to want to come
295 |28 |00:05:43,920 ~-~-> 00:05:55,680 |out here and try to prove to the world his dad, is ICT. And he can teach people how to do this, and yada yada, and he's gonna go out here and make money and go
296 |29 |00:05:55,680 ~-~-> 00:06:03,690 |after the trolls. That was his mentality, that was his whole reason for doing it. And while that may be admirable to some of you, I thought it was rather
297 |30 |00:06:03,690 ~-~-> 00:06:12,750 |stupid. And I told him this before I said, you're going into this for all the wrong reasons you're going in, to do something other than be good at it, for the
298 |31 |00:06:12,750 ~-~-> 00:06:20,790 |sake of being good at it. And identifying the fact that it's going to take you time, it's gonna take you time to get over all the learning hurdles, all the
299 |32 |00:06:20,790 ~-~-> 00:06:26,010 |things that you're going to discover about yourself, the things you thought you're going to be strong at, they're going to be the weaknesses in your
300 |33 |00:06:26,010 ~-~-> 00:06:37,950 |trading. And it sounds like it can't be possible, but it is your you're confident in your ability to do things that are outside of trading. So
301 |34 |00:06:37,950 ~-~-> 00:06:47,550 |therefore, a male mindset. And he's the one that of all my kids that are most likely to be Mr. Testosterone, okay, he's the largest of all of them. He's
302 |35 |00:06:47,550 ~-~-> 00:06:59,040 |bigger than I am. He's taller than I am. He's stronger than I am. And he feels that his athleticism and his ability to be a gamer online, he does a lot of
303 |36 |00:06:59,040 ~-~-> 00:07:09,390 |stuff. He's very good at that. And he's never had any kind of hardships in his academics, we homeschool. And he felt that he was just gonna walk out there and
304 |37 |00:07:09,390 ~-~-> 00:07:17,010 |just conquer everything and go on YouTube and literally go in the comment section of the future. Yeah, who's out there that like to make a career out of
305 |38 |00:07:17,100 ~-~-> 00:07:24,690 |trolling me, and you try to make ad revenue off of being negative against me, which is fine, yeah, that's fine. If they have to do that to make their children
306 |39 |00:07:24,720 ~-~-> 00:07:31,590 |eat and have Christmas, that's wonderful. I'm not worried about it's not changing anything with me. But I told him, I said, that's the worst thing to do.
307 |40 |00:07:31,590 ~-~-> 00:07:42,450 |And so many times what I say to us, my students don't go into this, trying to go on to social media, and show your trading prowess as a report card. That's why I
308 |41 |00:07:42,450 ~-~-> 00:07:52,890 |believe if you're gonna have a My FX book, if you're a forex trader, that should be kept private. It absolutely should be kept private. Because as soon as you
309 |42 |00:07:52,890 ~-~-> 00:08:03,810 |feel like you got to unzip your pants, and show the world where you're measuring right now, you've lost the plot. You've literally lost the plot, because you now
310 |43 |00:08:03,810 ~-~-> 00:08:14,310 |have put a mile marker out there and saying, Okay, I felt so insignificant at that very moment, that I had to go out and do those types of things. To measure
311 |44 |00:08:14,310 ~-~-> 00:08:23,040 |up to let people see me and recognizing, but what you have just done is if so that you've established a baseline now, now you have to climb up above that.
312 |45 |00:08:24,600 ~-~-> 00:08:32,880 |What if you don't have the skill set to do it yet. And most of you listening, don't have that skill set. You're just now learning, you're learning how to find
313 |46 |00:08:33,060 ~-~-> 00:08:39,750 |setups, you're trying to read price action, you're not even in a stage where you should be going out there trying to get a combine past with a funded account,
314 |47 |00:08:40,020 ~-~-> 00:08:54,030 |whether it be Forex or futures, you're not prepared. My son was not prepared period, but left to his own devices left to his own functions and need to be
315 |48 |00:08:54,060 ~-~-> 00:09:04,290 |significant, the do something emotionally, which would have been toxic even more, if he would have been successful. Because then he would have been good. He
316 |49 |00:09:04,290 ~-~-> 00:09:19,110 |has the ability to become the biggest prick in trading. You think I'm arrogant, this little bit, okay would literally be a menace. Because he's got that
317 |50 |00:09:19,140 ~-~-> 00:09:27,810 |arrogance flare in. And that's what he's, he's suffering from that right now. Because he wanted it to be easy for him. It can be it will be easy for him. But
318 |51 |00:09:27,810 ~-~-> 00:09:35,220 |he has to do it that way. That's just the way it's gonna have to be. And the things that I was trying to spare him and what I tried to spare all of you who
319 |52 |00:09:35,220 ~-~-> 00:09:46,950 |listened to me. I tried to tell you how to go into this with the right mindset, because you can make as much money as you want. But you have to be willing to
320 |53 |00:09:46,950 ~-~-> 00:09:59,070 |lose as much as you can afford. Think about that. That's a sermon in of itself. I could teach on that whole premise right there for the rest of this year and
321 |54 |00:09:59,070 ~-~-> 00:10:09,090 |not scratch the surface. Because of the importance of knowing what I just said there. But all of you come into this, and you want to do something, and Olympic
322 |55 |00:10:10,230 ~-~-> 00:10:18,720 |go out there with the least amount of experience the least of no Hell, no responsibility whatsoever, because it's going to be the funded accounts, I
323 |56 |00:10:18,750 ~-~-> 00:10:26,640 |thought that you lost. It's going to be traded Bates data thing, because you lost me tell you something. Cameron got funded. Yes. But you know what, he blew
324 |57 |00:10:26,640 ~-~-> 00:10:35,010 |one of those accounts, he had four of them going, because they were like 49 bucks or 50 bucks. I think it's 50 bucks, don't quote me, I might have made I'm
325 |58 |00:10:35,010 ~-~-> 00:10:43,710 |even saying that part wrong. But he had four of them going. And his mentality was is I'm going to get one of them. You got one of them. But one of them, he
326 |59 |00:10:43,710 ~-~-> 00:10:55,020 |lost. And he bitched about how he didn't get the feel he should have gotten, but he let it ride. And top step, if you're listening, do not give him a credit. I'm
327 |60 |00:10:55,020 ~-~-> 00:11:05,310 |gonna ask you for fucking charity for my son, don't do it. He needs to understand that that was the wrong way to do it anyway. But there's always going
328 |61 |00:11:05,310 ~-~-> 00:11:09,360 |to be some reason, some reason for the inexperienced,
329 |62 |00:11:10,770 ~-~-> 00:11:22,410 |lack of self control, no discipline, mindset to blame everything and everyone but them because none of these funded account companies make you push these
330 |63 |00:11:22,410 ~-~-> 00:11:32,880 |buttons. None of them do. Not one of them. You do it, you come to the conclusion, whether you learned something from me, whether you learned something
331 |64 |00:11:32,880 ~-~-> 00:11:40,620 |from somebody else, or you didn't, then something pulls you out of your ass, it doesn't matter. You're doing these things because you feel the initiative to go
332 |65 |00:11:40,620 ~-~-> 00:11:47,970 |out there, hey, I'm going to do it, this is my way, and I'm going to do it. And if I fail, I'm okay with it. But then you realize that you now aren't
333 |66 |00:11:47,970 ~-~-> 00:11:58,020 |successful. And you blow out that combine in short order. Now you're wrestling with something that you weren't prepared for. That's the reason why I teach the
334 |67 |00:11:58,020 ~-~-> 00:12:15,030 |way I do. If I was honest, I believe that less than 20% of my listening audience is going to be successful. Less than 20% Not because of the ability that my
335 |68 |00:12:15,030 ~-~-> 00:12:24,990 |concepts can find setups consistently. It's the fact that human nature is what it is. Like, you don't have any sense of accountability whatsoever, except for
336 |69 |00:12:25,470 ~-~-> 00:12:38,250 |your own. And if you don't develop that initially in beginning, well, who's going to hold you accountable? No one. And my son had money to pay for these
337 |70 |00:12:38,250 ~-~-> 00:12:48,750 |things. So therefore, he's accountable to no one. That's not paying for it. So I don't owe him an explanation. But I'm going to do it. And I'm going to prove him
338 |71 |00:12:48,780 ~-~-> 00:12:57,420 |just like he thought he's going to do like his brother Cody. And our son, he's, I told him don't touch crypto. It's toxic. It's poison. I'm telling you don't do
339 |72 |00:12:57,420 ~-~-> 00:13:04,200 |it. You're gonna lose, you're gonna lose. You're gonna get your shit tied up in some kind of bogus broker account. You ain't gonna get your money. Well, guess
340 |73 |00:13:04,200 ~-~-> 00:13:20,040 |what? Just under $30,000 He can't get it. Well, there you go. didn't learn didn't learn. This one here, the most arrogant about my voice. Really the only
341 |74 |00:13:20,040 ~-~-> 00:13:27,990 |arrogant one. I'm going to go out there. I'm going to conquer features. And I'm going to do without your money. You're not going to help me. Because everybody's
342 |75 |00:13:27,990 ~-~-> 00:13:37,980 |going to say that you did it for me. Or hey, I can appreciate that. I was like, man, if you listen to me Sunday, you'll be able to do this and shit. Easy. It'll
343 |76 |00:13:37,980 ~-~-> 00:13:46,770 |be easy. It'll be a cakewalk. If you just listen, but it's not going to be as fast as you want to be. No, no, no, I got time for that. I got trolls the slap.
344 |77 |00:13:47,910 ~-~-> 00:13:59,670 |So what'd he do? He rushed he rushed to get in there for an emotional stimuli. That doesn't make any fucking money. I here's my my effects book. I'm down 5%
345 |78 |00:13:59,700 ~-~-> 00:14:10,260 |I've not been able to come out of that drawdown for nine months. But here you go. I'm teaching you wanna learn from me? Devastating. That's devastating to a
346 |79 |00:14:10,590 ~-~-> 00:14:24,810 |guru mentor. And it's devastating to you. As someone that's trying to learn how to trade should you have those KPIs? That's those measurements, those tools to
347 |80 |00:14:24,810 ~-~-> 00:14:36,900 |measure your ability to manage risk. How do you come back from drawdown? Which are actually accuracy? What's your are multiples? All those things? Should you
348 |81 |00:14:36,900 ~-~-> 00:14:52,830 |have those? Yes. But they should be personal. Everything in trading should be personal. Absolutely. Must be personal. Does the idea of you becoming an
349 |82 |00:14:52,830 ~-~-> 00:15:00,900 |entrepreneur? Does that excite you to get you thinking like you know, I would like to do that. Most of my audience probably would do We think that's a great
350 |83 |00:15:00,960 ~-~-> 00:15:08,460 |way of viewing life and say, I'm going to strive to have my own business. And I'm going to treat trading as my own business. That's wonderful. And I wish you
351 |84 |00:15:08,460 ~-~-> 00:15:19,020 |nothing but success. And I'm trying every time when you have time to listen to me, when I'm presenting these presentations, whether it be in this Twitter
352 |85 |00:15:19,020 ~-~-> 00:15:29,970 |space, or if I'm doing lectures on my YouTube channel, my intentions are to help you to help you identify the things that might become a province you don't
353 |86 |00:15:29,970 ~-~-> 00:15:39,390 |really recognize right now. And you won't see it coming otherwise. And then it'd be easy for you to feel like I just saw one of the young ladies that follow me
354 |87 |00:15:39,390 ~-~-> 00:15:51,090 |on Twitter. She tweeted yesterday, I said, I give up, I'm done. Nana. Trust me, you're not, you're just frustrated, and you need a break. So take a break. If
355 |88 |00:15:51,090 ~-~-> 00:16:02,160 |you have tried to do these funded account challenges, and you fail, stop, don't even do any more of it this year. Take the rest of this year, learn what you're
356 |89 |00:16:02,160 ~-~-> 00:16:14,340 |doing wrong. Identify some kind of resolution to those things. And come to grips with the fact that you're human. There's a lot of my students out there that are
357 |90 |00:16:14,340 ~-~-> 00:16:24,750 |smashing it. Don't look to them and say I'm going to do better than that guy or that gal, this person, that person. That's the wrong way to do it. Here's what
358 |91 |00:16:24,750 ~-~-> 00:16:34,290 |you have to have as a mindset, son. You're going out there and you're trying to do something that is one of the most difficult things in the world to do.
359 |92 |00:16:35,700 ~-~-> 00:16:53,940 |Financially carve out your own way. In the most corrupt, manipulated system, there is the city slickers that run this show, they have a mo, your dad has the
360 |93 |00:16:53,940 ~-~-> 00:17:05,580 |source code that that shit. If you just listen to me and help yourself, get over the mental hurdles, that's going to keep you from doing it correctly. Once that
361 |94 |00:17:05,580 ~-~-> 00:17:19,470 |part's figured out, it's easy. It is absolutely fucking easy. It is easy to walk your ass into those markets and say, That's mine. Thank you. That's mine. Thank
362 |95 |00:17:19,470 ~-~-> 00:17:28,740 |you. That's mine. Thank you. But you also have to identify there's going to be times when it's going to be simply don't touch me, because I am going to roll
363 |96 |00:17:28,740 ~-~-> 00:17:40,050 |over everyone today. You can't you can't just go into every single day. You can't. You cannot go in with that same mindset you cannot. Because every day
364 |97 |00:17:40,050 ~-~-> 00:17:51,360 |offers the opportunity for intervention that you can't see coming, and the economic climate, the geopolitical situation around the world right now. It is
365 |98 |00:17:51,360 ~-~-> 00:18:05,970 |ripe, it is so ripe for something coming out of the blue and completely decimate you do you have to be careful, you have to dial back your risk. You can't be
366 |99 |00:18:05,970 ~-~-> 00:18:16,320 |pushing 15 Fucking contracts because the funded account says you can trade up to that many. It doesn't mean that you're not my son. If you don't do 15 contracts
367 |100 |00:18:16,320 ~-~-> 00:18:27,480 |because that's the maximum they allow a dumbass trades was 15 contracts. A stupid dumb fuck that doesn't know how to trade is going to be using those 15
368 |101 |00:18:27,480 ~-~-> 00:18:37,980 |contracts and they're gonna be resetting their accounts every 10 to 12 days. It's gonna happen. Don't believe me? Ask the people that are doing it. How many
369 |102 |00:18:37,980 ~-~-> 00:18:47,730 |times when did that count start? You'll see that they've been resetting and resetting, resetting, resetting. That's that's the reality. But you're only
370 |103 |00:18:47,730 ~-~-> 00:18:58,440 |seeing a small piece of what social media shows you. I give you everything that's going to fucking hurt you. And I give you everything that's going to help
371 |104 |00:18:58,440 ~-~-> 00:19:10,980 |you. If you don't want to listen to the things that's going to derail you, it does not matter how strong my weapons are your cut your damn hands off. What
372 |105 |00:19:10,980 ~-~-> 00:19:22,020 |uses it then? How you gonna wield your sword if you've amputated both your hands doing stupid shit, dumb stuff, not listening, trying to run before you've
373 |106 |00:19:22,020 ~-~-> 00:19:37,200 |learned how to crawl. The reason why you are all going to fail. It's because the person that you see in that mirror isn't properly prepared mentally for it.
374 |107 |00:19:38,520 ~-~-> 00:19:48,600 |You're looking at trading as a way of getting past some kind of uncomfortable state, whether it be financially or emotionally. They're the two factors instead
375 |108 |00:19:48,600 ~-~-> 00:19:58,890 |of saying I have to have a job until I can not afford to go to work for somebody anymore so I can make more money doing what I'm doing. Whether it be running a
376 |109 |00:19:58,890 ~-~-> 00:20:07,350 |business or doing trading Either way, you have to submit yourself that idea. And some of the young folks out there like, I'm going to quit my job. I see somebody
377 |110 |00:20:07,410 ~-~-> 00:20:18,150 |out there all the time. New suggestion. ICT said quit your job in 90 days trading this silver bullet? I said I could. That doesn't mean you're absolutely
378 |111 |00:20:18,150 ~-~-> 00:20:26,010 |going to be able to. But if you had the right mindset, can someone do that? Yeah. Can someone do that if they're making $20,000 a year, they have mortgages
379 |112 |00:20:26,010 ~-~-> 00:20:36,780 |out their ass college tuitions are paying off with their kid, a wife that spends money like mine does, you can't do that. You can't. So there's, there's levels
380 |113 |00:20:36,780 ~-~-> 00:20:46,500 |to this, okay. And you can't just do a umbrella attachment to everything that either I say or anyone else says about trading, you have to make sure it fits
381 |114 |00:20:46,500 ~-~-> 00:20:55,380 |you. And what I do and how I teach, I make it scalable. So that way you can take everything that I teach and make it applicable to you. Unless I say something
382 |115 |00:20:55,380 ~-~-> 00:21:03,300 |specific about forex being the only way it works here for this, or if I say this is a futures thing. Don't try to use it for forex, unless I'm saying that at the
383 |116 |00:21:03,300 ~-~-> 00:21:07,470 |time about that very specific thing or teaching. It's universal.
384 |117 |00:21:10,020 ~-~-> 00:21:18,720 |The universal application of mental preparedness about trading, that's the first stage that you have to get yourself. You have to warm up to the idea that your
385 |118 |00:21:18,720 ~-~-> 00:21:28,560 |first year you're not making money. Can you if you go out there and trade get lucky. Sure you can. Absolutely. But the chances of you doing that consistently.
386 |119 |00:21:29,520 ~-~-> 00:21:36,420 |And that's okay for some of you, you just want to win a lottery win. I just want to get a payout like this, because get this damn credit card paid off, I got
387 |120 |00:21:36,600 ~-~-> 00:21:50,580 |over leveraged, you're charging me 36% a month. I just got to pay some debts off. You're doing it wrong. You're absolutely doing it wrong. So what I did was
388 |121 |00:21:50,580 ~-~-> 00:22:00,690 |I asked my son I said, you know, where do you see yourself? If that does not give you anything going forward? Where do you see yourself. He talked about a
389 |122 |00:22:00,690 ~-~-> 00:22:09,540 |welder and do his own welding business. He talked about being an HVAC and learning how to do that as a business. But he wants to be a business owner. So I
390 |123 |00:22:09,540 ~-~-> 00:22:19,080 |love that part of it. I just don't like the fact that he wants to be a grunt. But I know that that has to happen. I've allowed him to work at a coffee shop.
391 |124 |00:22:20,100 ~-~-> 00:22:31,320 |And as much as I hate hearing him bitch about how some people go in there. And they talk down to him because they think, Well, you know, you're just a kid,
392 |125 |00:22:31,440 ~-~-> 00:22:39,900 |you're just the kid. They don't know his pedigree. They don't know where he came from. I could buy and sell that fucking company. Bottom line is is he has to be
393 |126 |00:22:40,410 ~-~-> 00:22:49,050 |work hardened. He has to understand what keeps him doing the things and found the rules. Otherwise, he spends the rest of his life doing that kind of stuff
394 |127 |00:22:49,080 ~-~-> 00:23:01,860 |answering to the man. Can I have off? Can I go home early? Do I have to stay over? Because you asked me? Can I get a vacation on this week? So these are
395 |128 |00:23:01,890 ~-~-> 00:23:09,780 |these are questions that I don't want my children ever to have to ask for. And you know what if that makes me sound like an arrogant prick to any of you, fuck
396 |129 |00:23:09,780 ~-~-> 00:23:17,880 |you. Because I don't want my children begging. You shouldn't be begging, I don't want any of you listening to me ever feeling like you're in that situation. And
397 |130 |00:23:17,880 ~-~-> 00:23:27,270 |I don't want you to feel that way for your kids who grew up and and didn't depend, if you will, on somebody else feeding you for them. That's a terrible
398 |131 |00:23:27,270 ~-~-> 00:23:39,870 |feeling. It sucks. You don't have control of your life. You have zero control of your life. You're at the mercy. If you're part of the working class, and let me
399 |132 |00:23:39,870 ~-~-> 00:23:52,050 |tell you something. I was there. I was there. I did shit jobs. Shit jobs. I told my wife we were driving around. And all this is pertinent to this conversation
400 |133 |00:23:52,050 ~-~-> 00:23:58,440 |by the way. So if this isn't, you know, scratchy, it's you go watch something else or listen to something else. Or complain to me in Twitter. Second, blocky.
401 |134 |00:23:59,790 ~-~-> 00:24:08,580 |We're taking a drive like we normally do. And I said, How many jobs if you had in your lifetime? Like and when did you first start working? And she's like,
402 |135 |00:24:08,580 ~-~-> 00:24:18,660 |well, you know, just at the end, she had like four jobs started really young as a teenager. And when I was 16 My first job was a dishwasher. And long story
403 |136 |00:24:18,660 ~-~-> 00:24:38,160 |short, I went through a lot of things and I 28 jobs 28 w two paying jobs. Now. Some of them I worked one day. Some of them I didn't even work a day. There was
404 |137 |00:24:38,160 ~-~-> 00:24:49,590 |a place up in Bell camp. It was a rubber tube. Manufacturing place place stunk really bad. I got in and they were they're gonna pay me $18 Now and back then it
405 |138 |00:24:49,590 ~-~-> 00:24:56,970 |was great money. But I couldn't I couldn't tolerate I just said want to supervise it. I gotta go. Can't do this. Are you sure they can right? I'm sure
406 |139 |00:24:57,000 ~-~-> 00:25:08,160 |I'm out of here. Don't even worry about the hour I've been here. Keep it So I've had a lot of attempts to be an employee, I just failed at it. And guess what? I
407 |140 |00:25:08,160 ~-~-> 00:25:19,080 |am proud to tell you, I failed as an employee, because I shine as an entrepreneur. I'm not made to be somebody's fucking slave. I'm not. I'm not made
408 |141 |00:25:19,080 ~-~-> 00:25:28,290 |to be like that. And neither are you. But you're convinced and told otherwise, by the shit you watch on TV, the movies that you watch the people you hang
409 |142 |00:25:28,290 ~-~-> 00:25:39,150 |around with me, I got a good job. What? There's no jobs that are good. None of them are good. None of them are good. So here's my son growing up, seeing the
410 |143 |00:25:39,150 ~-~-> 00:25:49,860 |way we live, how we live, what we do, I don't look at price tags. If I want something, I buy it. Nobody tells me I can and can't. Whatever I want, I get
411 |144 |00:25:49,890 ~-~-> 00:26:04,200 |whatever I want to drive I buy. So how could he How could he as my son, understand the hardships that was felt for me? And like all of you that would
412 |145 |00:26:04,200 ~-~-> 00:26:12,630 |have to do the same stuff until you don't have to anymore? How do they understand how to get past that? Or appreciate the fact that this isn't the
413 |146 |00:26:12,630 ~-~-> 00:26:23,940 |right way. They have to be put in a situation where they do it. But my kids aren't lazy. So when they get in there, they start doing. You know, it was like
414 |147 |00:26:23,940 ~-~-> 00:26:31,140 |when you first got your first paycheck, right? It's like, Man, I gotta I gotta, this is my money. I made this money. It's only like, 300 some dollars after
415 |148 |00:26:31,140 ~-~-> 00:26:39,420 |taxes. But damn it, that's your money. You earned it. It's something special about it. It's meaningful to you. It's not that it's a lot of money. It's just
416 |149 |00:26:39,420 ~-~-> 00:26:48,840 |the fact that you earned it. You felt good. Because you did it. You went through the process to get there. Well guess what that is? That's fucking trading. You
417 |150 |00:26:48,840 ~-~-> 00:27:00,870 |traded your time, your energy, your lifeforce. Your time clock that's ticking down faster and faster. As you get older, you gave up a lot of that 40 hours for
418 |151 |00:27:00,870 ~-~-> 00:27:13,950 |that week, to get that minuscule pittance of money. Well done. You got raped, well done, you got taken advantage of. And you're going to have the audacity to
419 |152 |00:27:13,950 ~-~-> 00:27:22,710 |call it a good job. This is a good this is a good experience. No, it's not. It's experience. It's useful experience, but it's not good. It needs to be work
420 |153 |00:27:22,710 ~-~-> 00:27:31,020 |hardening at means you see it, you have to do it, you're told to do it, and you can't not do it to get to get paid, you have to do it. You have to follow rules.
421 |154 |00:27:31,140 ~-~-> 00:27:43,560 |You have to stay within a parameter. Do this, do that. Just get paid off. But then you gotta do it again. And where does that lead, you know, where you're not
422 |155 |00:27:43,560 ~-~-> 00:27:44,310 |gonna make any money.
423 |156 |00:27:49,589 ~-~-> 00:27:57,539 |So he has this mindset now. He doesn't come home defeated, he says irritate because some people will come in and complain to him. But now he's got that,
424 |157 |00:27:57,749 ~-~-> 00:28:10,079 |that feeling what it feels like, someone looked down at you. I needed him to feel that. Because he's he's a despite being arrogant. He's a likable guy. Okay,
425 |158 |00:28:10,079 ~-~-> 00:28:18,599 |and nothing that I'm aware of none of his friends and they don't seem to run short on friends. And the girls that he knew pal around with, he's got one he's
426 |159 |00:28:18,599 ~-~-> 00:28:30,929 |study with now she's gonna go to college. She leaves in a couple of weeks. So she's leaving state to do her veterinarian career. So I told him, I said,
427 |160 |00:28:30,929 ~-~-> 00:28:41,789 |Listen, this is such a perfect opportunity for you. Because here's what you can do. You can if you decide that you want to do something blue collar like the
428 |161 |00:28:41,849 ~-~-> 00:28:53,069 |HVAC tech, and you want to go into running your own business like that as the end result. That's wonderful. But this, this right here, this is the real thing.
429 |162 |00:28:53,429 ~-~-> 00:29:02,309 |That is this a Plan B that you don't really hope to hit you worry about. But you're doing that because her parents, they don't they don't understand what we
430 |163 |00:29:02,309 ~-~-> 00:29:11,909 |do. They obviously see how we live, but they don't understand what we do. As traders, they don't it doesn't make any sense to them. Like how can you they
431 |164 |00:29:11,909 ~-~-> 00:29:24,569 |don't understand that I make literally their entire year salary in one fucking day combined. And she's a nurse in one day, one day, 124 hour interval I make
432 |165 |00:29:24,569 ~-~-> 00:29:37,289 |more than both of her parents gross annual income in 124 hour period. I do that. They can't comprehend that. That's that's unfathomable. We talking about. That's
433 |166 |00:29:37,289 ~-~-> 00:29:45,629 |not even trying. That's just what it is. And none of your friends and your family got to understand that when you start becoming madly successful, too.
434 |167 |00:29:46,919 ~-~-> 00:29:52,109 |You're going to spend the rest of your life trying to convince people that aren't going to have the capacity to understand that's another thing that you're
435 |168 |00:29:52,109 ~-~-> 00:30:01,199 |trying to do. You're going into this industry, try to trade to try to show your friends and family. You could do it they are less than what you Are versus them
436 |169 |00:30:01,199 ~-~-> 00:30:11,879 |saying you're gonna fail. It's a pipe dream. There's nothing wrong with using it as steam. So when you get those markets and you reach that next plateau and your
437 |170 |00:30:11,879 ~-~-> 00:30:20,069 |development you and your understanding you get funded, or you get a payout, or you're now making money. Look back and reflect on that and say, Yeah, but that's
438 |171 |00:30:20,069 ~-~-> 00:30:26,039 |for your journal. That's not for you to go up to them. Say, Hey, motherfucker. Remember that time when you said, blah, blah, blah, look what I'm driving now,
439 |172 |00:30:26,039 ~-~-> 00:30:33,029 |bitch, look what I'm not, you know, I'm making all this money now. But they're not going to look at you and say, Wow, well done. They're gonna do the same
440 |173 |00:30:33,029 ~-~-> 00:30:39,809 |thing they did with me when I did that, when I was 20, some years old. Get the fuck outta here ticket, you're, you're you're conceited, you're conceited,
441 |174 |00:30:39,809 ~-~-> 00:30:46,679 |whatever, whatever. That's, that's the reaction you gotta get. So you're not even gonna get the reaction you want by doing those things. And that's exactly
442 |175 |00:30:46,709 ~-~-> 00:30:59,309 |what my son wants to do. Still, still. So I got it. I mean, he's got that warrior mentality, he wants to go out there and show this and show that he's
443 |176 |00:30:59,309 ~-~-> 00:31:05,759 |definitely gonna be a YouTuber. And it's like, you know, he will be a YouTuber, he's probably going to be the one that teaches enigma. Because he wants to be
444 |177 |00:31:05,759 ~-~-> 00:31:16,019 |that guy. So it is what it is. Okay. But he still has to correct some things. And what did we did, we sat down, I told him, I said, Listen, where do you see
445 |178 |00:31:16,019 ~-~-> 00:31:25,139 |yourself in a couple years from now, because your girlfriend will be graduating college in four years. So in my mind, I think you have a four year print program
446 |179 |00:31:25,139 ~-~-> 00:31:38,159 |or plan that you should follow. If you want to go to school, to learn to be an HVAC T, or was HVAC tech, you know, I don't think there's a college course for
447 |180 |00:31:38,159 ~-~-> 00:31:45,509 |that. I think you got to go like to a company, you got to work for a company and they pay for you to go to school, in the evening time, or on weekends or
448 |181 |00:31:45,509 ~-~-> 00:31:53,009 |whatever, and you become whatever, I think you sign a contract, as long as you work with them to pay for it or something, something to that effect. And I may
449 |182 |00:31:53,009 ~-~-> 00:32:04,409 |be absolutely incorrect in that assumption. But that's my understanding, right? So I thought about it. I don't know anybody that actually did it. But I want him
450 |183 |00:32:04,409 ~-~-> 00:32:15,359 |to go through this plan of four years. Whether he does that or not, I don't care. Personally, I don't care. Because if he just listens to me, one way or the
451 |184 |00:32:15,359 ~-~-> 00:32:24,089 |other, if I got to sit down, tell him by this cell that he's not going to work the rest of his life. But I need him to know how to do this correctly. So that
452 |185 |00:32:24,089 ~-~-> 00:32:30,209 |way, this information is passed on to his children, because I'm quite certain he's going to get this one he's with now. Pregnant, when they get out of
453 |186 |00:32:30,209 ~-~-> 00:32:37,589 |college, and they get settled down. I'm gonna I'm gonna have grandkids with these, these two. And I'm happy for it. I love her. It's like she's already part
454 |187 |00:32:37,589 ~-~-> 00:32:48,299 |of our family. But I don't want her to finish her college coursework in hitter degree in veterinary ism. Is it veterinarians? So you got to be a veterinarian?
455 |188 |00:32:48,929 ~-~-> 00:32:55,469 |I don't want her to come out of college and say, Okay, I've done my thing for four years, where are you? You know, I don't want him like saying, Well, you
456 |189 |00:32:55,469 ~-~-> 00:33:08,159 |know, I'm a breakeven trader, or I'm not trading anymore, and I tried, this isn't gonna work. So I said, here's, here's my home's cost right now average. We
457 |190 |00:33:08,159 ~-~-> 00:33:15,449 |went through Zillow, we went through a couple of different real estate agents, listings and things I said, Now, these are the property prices right now, in
458 |191 |00:33:15,449 ~-~-> 00:33:23,759 |four years, that could be greatly different from what they are, well, let's just say for the first starter home, you and your girlfriend, say, okay, she
459 |192 |00:33:23,759 ~-~-> 00:33:31,409 |graduates, you move in together, you get yourself a house, and we'll just say a 500,000. Our house is your first starter house. For some of you that might be
460 |193 |00:33:31,649 ~-~-> 00:33:42,029 |extravagant. To me, I think it's not even that big of a deal anymore, because real estate prices are jacked up, you know, unrealistically but to have like a
461 |194 |00:33:42,029 ~-~-> 00:33:51,029 |single family home, you know, small little plot of land. And something that's manageable, easily managed, doesn't take a whole lot to manage that. And for in
462 |195 |00:33:51,029 ~-~-> 00:34:03,719 |the habit before they get married, that would be important to me. But if you're listening, it's no offense meant by that. But it's, I think, a man and a woman
463 |196 |00:34:03,989 ~-~-> 00:34:11,669 |should have a property before they marry. And it's just the way it is. And if you have one that's nicer than the other, you live in the other ones. And you
464 |197 |00:34:11,669 ~-~-> 00:34:20,429 |use the other ones around that that's the way I look at it. But too many times people get with people, and they acquire something and then all of a sudden now
465 |198 |00:34:20,429 ~-~-> 00:34:28,709 |you're in court trying to fight who gets it when one party didn't really earn it. And that may sound sexist, but it's not it's either or whichever one comes
466 |199 |00:34:28,709 ~-~-> 00:34:36,689 |into the relationship having the money or the influence and the affordability to either pay for the property or own the property. The other person just because
467 |200 |00:34:36,689 ~-~-> 00:34:44,039 |they married him should not be entitled to that. And that's this my mindset now whatever you accrued during the marriage, that's absolutely 100% 5050 down the
468 |201 |00:34:44,039 ~-~-> 00:34:53,849 |middle and there's no bones about it. But I think everyone, as a young adult should be striving to secure a residence free and clear before they ever
469 |202 |00:34:53,969 ~-~-> 00:35:05,549 |consider getting with someone because that creates codependence. And if you've heard me teach before, I Uh, I'm a very strong proponent of independent mindset.
470 |203 |00:35:06,179 ~-~-> 00:35:14,699 |And you have to have that as a trader to be successful. As a young adult, if you're listening, you should be striving to do those types of things. That way,
471 |204 |00:35:14,849 ~-~-> 00:35:24,419 |the person that's with you knows that you don't need their ass for shit. But just the compatibility on emotional level, relationship wise, and anybody, you
472 |205 |00:35:24,419 ~-~-> 00:35:31,199 |can, like, don't find anybody to do the physical part. But you want to be with someone that wants to be with you in that need to be with you because you have
473 |206 |00:35:31,199 ~-~-> 00:35:40,739 |something that can afford something. So there's a lot of things I gotta fix about my son, because he wants to flash he wants the arrogance, he wants to do
474 |207 |00:35:40,739 ~-~-> 00:35:49,229 |all these things. And that will invite a lot of things that brought me to the situation I was this young man, where I got messed around with by a gold digger.
475 |208 |00:35:49,859 ~-~-> 00:36:00,419 |And that's not going to be the topic here. But I had to live my life a certain way to keep her from taking things from me. She didn't earn it. And those things
476 |209 |00:36:00,419 ~-~-> 00:36:08,999 |are going to be the same problems that you're going to run into, if you flash everything. If you show what you have all the time, you're inviting it, you're
477 |210 |00:36:08,999 ~-~-> 00:36:16,079 |you're advertising, hey, come take advantage of me. Come lie to me and tell me that you care about me, you love me. But then when you get what you can get,
478 |211 |00:36:16,679 ~-~-> 00:36:28,319 |you're done, you're done. That's the problem. That's really a big problem today, because social media image all about this stuff. And now you've invited that to
479 |212 |00:36:28,319 ~-~-> 00:36:40,949 |trading. You You've made it next to impossible. You cannot be emotional about trading. Now. If social media is a large part of your trading, and you're
480 |213 |00:36:40,949 ~-~-> 00:36:52,229 |successfully, consistently profitable, wow, that is saying something. Because I don't believe that that helps anyone. It makes it harder, it means you have to
481 |214 |00:36:52,229 ~-~-> 00:37:01,589 |live up to some expectation. So we sat down, I told him, I said, Listen, you know, let's assume for your first property is going to cost you $500,000. And
482 |215 |00:37:01,619 ~-~-> 00:37:11,909 |you want to have some money in the bank. So after you pay the house off, so you got 250,000 out. So you're looking at $650,000, you got to have that in four
483 |216 |00:37:11,909 ~-~-> 00:37:22,079 |years. So how are you going to do that? And you looked at me like I don't know. i So that part's easy. But you need to understand that what you're doing right
484 |217 |00:37:22,079 ~-~-> 00:37:33,059 |now. And how you think and how you behave. isn't going to get you there, it won't get you 10% there. You're not going to do well. Unless you listen, you've
485 |218 |00:37:33,059 ~-~-> 00:37:38,669 |already tried it your way. And did it work? No. So
486 |219 |00:37:39,690 ~-~-> 00:37:51,750 |there's this little thin razor small window of opportunity, where you now have got yourself funded you over leverage. So you broke the rules I laid down for
487 |220 |00:37:51,750 ~-~-> 00:38:02,130 |you. I don't give a shit about top steps rules. Top step is absolutely easy to pass. And I'm going to teach you this today. Okay, I'm going to teach it to you
488 |221 |00:38:02,130 ~-~-> 00:38:09,270 |today. To me, there's no fucking excuse for you guys to go out there and complain about, oh, well, they're trailing this and the trailing that oh, that
489 |222 |00:38:09,270 ~-~-> 00:38:18,750 |this that they just, they won't let me do this. It's easy as shit. The past that there isn't a funding account challenge out there. That is not passable. That's
490 |223 |00:38:18,750 ~-~-> 00:38:30,870 |so easy. The problem is you're going in with these too fast expectations for yourself. But don't let me sound like I'm sugar sweet on these companies. So I'm
491 |224 |00:38:30,870 ~-~-> 00:38:37,260 |gonna tell you some shit. They probably didn't think about and they're gonna be mad. I said it today. So I don't want you to shoot about it. This is my opinion.
492 |225 |00:38:37,740 ~-~-> 00:38:49,020 |My son's got himself into this. So now I'm going to show him a solution to get through it. Should it mean, you should apply it to you? No, because I don't want
493 |226 |00:38:49,020 ~-~-> 00:38:56,100 |any kind of bullshit. And if it doesn't work for him, it doesn't work for you. I don't want to hear about it. This is my opinion. I think it would work for me, I
494 |227 |00:38:56,100 ~-~-> 00:39:01,320 |could walk out there and do it. No problem. It's not a big deal. And there's some of these companies out there would love nothing more for me to do it.
495 |228 |00:39:02,520 ~-~-> 00:39:11,250 |Because you'll trade copy every fucking thing I do. And I get it, I understand it. But I don't need to do that. I'm trading with real money, folks. I know I
496 |229 |00:39:11,250 ~-~-> 00:39:20,550 |teach with a demo account, but I'm trading real fucking money. You're gonna see it. Okay, you're gonna see it. I'm telling you that it's July 29 2023. You're
497 |230 |00:39:20,550 ~-~-> 00:39:29,880 |gonna fucking see real money. But while I'm teaching, I have to behind I have to be behind the veil of protection, because I'm not a licensed financial advisor.
498 |231 |00:39:30,000 ~-~-> 00:39:39,150 |So everything I'm telling you here, I'm not advising you financially. I'm telling my son, my offspring, the fruit of my loins, okay, the boy that wants to
499 |232 |00:39:39,150 ~-~-> 00:39:50,040 |be me all over again, and faster and quicker for him. The only way that's possible is if he listens to me. Nobody else is going to teach him how to be me
500 |233 |00:39:50,160 ~-~-> 00:40:03,270 |or better than me. That me and I want him to be better than me. I want all of you to be better than me. But you Can't do stupid shit. And think about money
501 |234 |00:40:03,450 ~-~-> 00:40:18,420 |the way you do. So he has a four year plan to come up with 650,000 hours. Can he do it? Yes. Can he do it right now? The way he is, mentally? Or equipped as a
502 |235 |00:40:18,420 ~-~-> 00:40:29,910 |trader? No. Am I embarrassed to say that? No, he literally just started doing this a couple months ago. And he has not listened? doesn't listen. Have you
503 |236 |00:40:29,910 ~-~-> 00:40:39,060 |studied the charts today on this move? No, I'll get that too. What are you talking about? There's times the silver bullet, I created that for him the 2022
504 |237 |00:40:39,060 ~-~-> 00:40:50,550 |model, I created that for my daughter. Think I'm doing this actively interactive with all of you, you're not entitled to this stuff. And I'm hoping that they
505 |238 |00:40:50,550 ~-~-> 00:41:02,760 |feel because their social media, mindsets, I'm hoping they will feel like they have to put more effort into it now. Because they invited that they wanted to,
506 |239 |00:41:02,790 ~-~-> 00:41:11,760 |they wanted to be in the social media element. They want to be out there on my YouTube channel, talking face to face and be seen by everybody. They want that
507 |240 |00:41:11,940 ~-~-> 00:41:19,650 |because they want to be able to testify and say, none of you people know what the fuck you're talking about. Like, this is what we really do. This is how we
508 |241 |00:41:19,650 ~-~-> 00:41:30,510 |live, this is how it really is. And you don't see the half of it. But I don't need that I don't want them doing that. Just like I teach you. Like I said, when
509 |242 |00:41:30,510 ~-~-> 00:41:42,060 |I'm talking to these discussions, whether it be in video, I'm talking to my children all the time, all the time. You gotta have a foul mouthed ICT, you talk
510 |243 |00:41:42,060 ~-~-> 00:41:53,340 |to your children like that, sometimes I do. I don't walk on water, I repent, I make mistakes. I said I do those things. But I'm passionate. And sometimes my
511 |244 |00:41:53,340 ~-~-> 00:42:07,410 |passion comes through with no filter. And this is the way it is. So he has 650,000 hours, he's gonna make him for years. And he has a funded account that
512 |245 |00:42:07,410 ~-~-> 00:42:17,670 |he has not executed on yet. They sent him an email, they finally got his email result. It's okay to start your funded account, you have to pay some kind of I
513 |246 |00:42:17,670 ~-~-> 00:42:25,410 |don't know what it was some kind of fee said it was. So okay, it's fine. I know they expect you to pay something each month or whatever. So let's talk about
514 |247 |00:42:25,410 ~-~-> 00:42:35,280 |that. Let's get this stuff out the way to know someone we're just waiting on bated breath to hear what I'm gonna say about the ever think about what combine
515 |248 |00:42:35,280 ~-~-> 00:42:51,150 |you're gonna do. And I'm going to use top step because that's the only one I've seen. Because of my son being involved in it, that's it. Okay, the idea of going
516 |249 |00:42:51,150 ~-~-> 00:43:01,890 |in with a $50,000 account, or $100,000 account, or funded to $150,000. They have like a thing on air, at least when I checked it this morning before I got on
517 |250 |00:43:01,890 ~-~-> 00:43:08,190 |here. So I want to have some of those numbers correct before I started talking like I didn't want to be saying things that were not accurate at the time of
518 |251 |00:43:08,190 ~-~-> 00:43:24,180 |this presentation, which is July 29 2023. They are the most popular is the $50,000 funded account challenge. And this has been said many times not just by
519 |252 |00:43:24,180 ~-~-> 00:43:32,790 |me but other people too. And people that are really aware of what's going on to even our funded with them that have received payouts. When you say or you get a
520 |253 |00:43:32,790 ~-~-> 00:43:48,510 |certificate, or you're funded as part of some kind of 50,000 IRA account, or 100,000 or 150,000, you don't have 50,000 or 100,000 or 150,000 you have as much
521 |254 |00:43:48,510 ~-~-> 00:43:57,000 |money as they'll let you before they stop you from trading. So in real in reality, what you have is for $50,000 account you have $2,000 trading account.
522 |255 |00:43:59,040 ~-~-> 00:44:15,870 |That's it. So I got $400,000 You have $3,000 That's once you lose that you're done. You got to reset or walk away 450,000 You have a 45 on an IRA account. So
523 |256 |00:44:18,390 ~-~-> 00:44:28,890 |for any of you that are out there trading with multiple mini contracts, trading with that size, you're fucking stupid. Okay, you're absolutely fucking stupid.
524 |257 |00:44:29,640 ~-~-> 00:44:36,300 |You're literally over leveraging to the fucking gills. You have no idea what you're doing. You're the worst fucking money manager there is if you're
525 |258 |00:44:36,300 ~-~-> 00:44:48,630 |literally trading more than one contract on any one of those things. If you're trading a mini one singular Mini with that 50,000 are funded account. You're
526 |259 |00:44:48,630 ~-~-> 00:45:01,560 |absolutely going to blow your brains out. You're gonna fail. You're over leveraged. Look at how fast NASDAQ moves. She likes to Run, once she stretches
527 |260 |00:45:01,560 ~-~-> 00:45:13,740 |her legs and starts firing her stride, it can really gallop. How many of those points can you handle, if you're doing the maximum of five contracts, because
528 |261 |00:45:14,010 ~-~-> 00:45:23,520 |that's what they offer, you can trade up to five contracts. Here, you want to play Russian roulette, we're gonna give you not just one handgun with one
529 |262 |00:45:23,520 ~-~-> 00:45:31,920 |bullet, but we're gonna give you fucking five. So that way, you have a real good chance of blowing your brains out. But they didn't do it, they didn't make you
530 |263 |00:45:31,920 ~-~-> 00:45:41,520 |push the button. They're just making it available to you. Because that means that they're likely to get reset, and you're not getting funded. And you're not
531 |264 |00:45:41,520 ~-~-> 00:45:51,120 |gonna have to pay out to any of these people. So while there may be a lot of things to say about the companies that do these things, and truth be told, if
532 |265 |00:45:51,120 ~-~-> 00:46:00,000 |these things were made available to me, when I was younger, I would have done it. I absolutely would have done it. I would have done most likely worse than
533 |266 |00:46:00,000 ~-~-> 00:46:13,830 |what my son did here. He's done a lot of resets. And he traded through. He used his older brother, Caleb, he let him set it up. So we weren't aware of anything
534 |267 |00:46:13,830 ~-~-> 00:46:24,060 |that was going on. Even though top step could say, oh, yeah, Caleb was in here to Caleb was only letting him use his bank card. Now he's 18. He's got his own
535 |268 |00:46:24,060 ~-~-> 00:46:33,270 |show. So it's, he's doing it there. But that's how it's been. And he tried to do things where he was not prepared, not knowing what he's doing. And what's the
536 |269 |00:46:33,270 ~-~-> 00:46:41,640 |results, as you would expect, unsuccessful. Not even doing anything I taught him. Not one thing. Just thinking, Oh, it's moving really fast, it's going to
537 |270 |00:46:41,640 ~-~-> 00:46:50,760 |keep moving. That's the mentality of a momentum trader. You have to know what it's doing. Where's it going? You can you get lucky doing that? Sure. You can.
538 |271 |00:46:51,000 ~-~-> 00:47:01,740 |There's a lot of people doing it. But we sat down, and I tell him, I said right now you have, once you pay whatever that fee is, you're gonna have what is
539 |272 |00:47:01,890 ~-~-> 00:47:13,530 |considered a funded account with top step for 50,000 hours, okay? You do not, you do not have 50,000 hours, you have 2000. Now, here's what I want you to
540 |273 |00:47:13,530 ~-~-> 00:47:24,030 |understand folks listening, okay? If you have that funded account at 50,000, and you can do the math on all the other tiers, whether it be the 100%, I'm sorry,
541 |274 |00:47:24,090 ~-~-> 00:47:35,370 |100,000, or the $150,000 funded account, every month, you have to pay some kind of subscription fee to that. Okay.
542 |275 |00:47:37,260 ~-~-> 00:47:48,030 |Here's the part of the financial illiteracy, none of you are tapping into and correcting the fact that you're trying to say that you have a $50,000 account.
543 |276 |00:47:48,030 ~-~-> 00:48:02,430 |And my son, once he gets the fee paid, he does not have a $50,000 funded account. He has a relationship with a company that says we will pay out 90% on
544 |277 |00:48:02,430 ~-~-> 00:48:14,850 |anything that you earn, as long as everything that we've given you in terms of parameters are met. And that exceeded, Okay, wonderful. But you don't have a
545 |278 |00:48:14,850 ~-~-> 00:48:27,270 |$50,000 account, you have a 2000 IRA accounts that you have to pay. And if they do raise the money back up to their reg right now, it's 100, it's $49 a month.
546 |279 |00:48:28,890 ~-~-> 00:48:35,970 |And I think I'm sure they probably got a lot of people sign up because it got real cheap. And that to me, I think that's what they should do. Because the
547 |280 |00:48:35,970 ~-~-> 00:48:44,580 |stats are gonna stay the same, most people are gonna fail. If I was Michael, that runs top step, I would literally keep it 49 The pay structure they have
548 |281 |00:48:44,580 ~-~-> 00:48:53,310 |right now, I would keep it just like that. The fucking volume that that's going to bring in would weigh out do what they're going to do, because number one,
549 |282 |00:48:53,310 ~-~-> 00:49:02,310 |there's a lot of shit going on. Because the trading view and the trade have a link up, it's not available anymore. And for me and my community, we're we're
550 |283 |00:49:02,310 ~-~-> 00:49:09,360 |crew trading view. Okay, and I don't have any affiliation with them. They don't pay me. They've asked me to have business relationship with them. A couple weeks
551 |284 |00:49:09,360 ~-~-> 00:49:18,480 |ago, I said no, I don't do any affiliate nothing. So my opinion is absolutely mine. It's not influenced by anybody paying me. It's this. This is my opinion.
552 |285 |00:49:18,810 ~-~-> 00:49:30,000 |And if it's good, it's great. If it's not good, except the fact that it's my opinion. I don't want any kickbacks from any company, and I interested but
553 |286 |00:49:30,000 ~-~-> 00:49:40,170 |eventually, if they take it back to what they were expecting people to pay, I think if I'm not mistaken, it was $165 a month. Okay. So if you have a $2,000
554 |287 |00:49:40,170 ~-~-> 00:49:53,670 |trading account, not 50,000, you have 2000 and you're paying $165 You're basically in a credit card format. You're paying eight and a quarter percent to
555 |288 |00:49:53,670 ~-~-> 00:50:05,010 |have access to $2,000 that doesn't even exist. Hello. It's like fractional reserve Are banking. Listen, I'm not knocking them, that's fucking amazing that
556 |289 |00:50:05,010 ~-~-> 00:50:17,010 |they have people constant coming and doing that, that's wonderful. My job, my job and role as a teacher is to show you there are weaknesses, there's, there's
557 |290 |00:50:17,010 ~-~-> 00:50:30,030 |things that you can exploit, you can beat their ass, you can, you can get paid for these companies. I have students that are doing it. But most of you don't
558 |291 |00:50:30,030 ~-~-> 00:50:37,710 |know how to view this stuff, think about Have you have you really strongly considered the monthly fee and what you're really paying, you're paying the
559 |292 |00:50:37,710 ~-~-> 00:50:49,590 |equivalent of eight and a quarter percent interest whether you make money or not. And it's the same ratio, whether you got 250,000, or the 100,000, it's
560 |293 |00:50:49,590 ~-~-> 00:51:06,090 |anywhere between 8.33%. Or, in this case, eight and a quarter percent for the $50,000 account. So out of the 2000 hours that you really have access to you're
561 |294 |00:51:06,090 ~-~-> 00:51:13,860 |paying $165 A month towards that. So you're paying eight and a quarter percent. So you now have to do what you got to make eight and a quarter percent just to
562 |295 |00:51:13,860 ~-~-> 00:51:23,010 |break even. Now, you can fucking probably do that now, even in a demo account, but you're in a rush to get out there and trade in these fucking combines.
563 |296 |00:51:24,450 ~-~-> 00:51:31,860 |You're financially illiterate. That's why I talk to you the way I talk to you. That's why I give you all of these things to understand how you're supposed to
564 |297 |00:51:31,860 ~-~-> 00:51:42,810 |think about money, how you're supposed to behave, how you're supposed to conduct this as a business. When you trade with these companies, this is exactly what
565 |298 |00:51:42,810 ~-~-> 00:51:53,220 |I'm having my son do. He's he's not going to stay with this company, he's never going to go into another funded account, ever. He put money into it, we're going
566 |299 |00:51:53,220 ~-~-> 00:52:03,240 |to take that money back, he's going to make probably $10,000, and then he stopping, then he's going to take that $10,000, and he's going to put it in amp
567 |300 |00:52:03,360 ~-~-> 00:52:14,190 |futures. He's going to trade with a real broker that pays commission, and he can get a fucking wire withdrawal every single day when he makes it. There's no you
568 |301 |00:52:14,190 ~-~-> 00:52:21,060 |got to be profitable for days, five days in a row minimum, that's minimum that if you make money, you should be fucking pulling out the money, you should be
569 |302 |00:52:21,060 ~-~-> 00:52:33,600 |able to do that. All of these companies, all other rules are meant for you as a highly probable failure as a trader, their likelihood of paying out is so small.
570 |303 |00:52:34,950 ~-~-> 00:52:41,430 |It's a wonderful business for them. And they look like they're helping everybody. And for the people that know how to explain it just like card
571 |304 |00:52:41,430 ~-~-> 00:52:52,050 |counters. In all my students, I'm teaching you how to count fucking cards. They don't want you in there when you start beating their ass, but they want to put a
572 |305 |00:52:52,050 ~-~-> 00:53:02,100 |copy on Erina. It can't they can't copy everybody, okay? Because the flash in the pan guys that come in there and do it real quick, boom, make your money, get
573 |306 |00:53:02,100 ~-~-> 00:53:12,120 |out and go trade with a real broker. If you're stuck, and you don't have the money to do it, and you can't scrape up the amount of money that needs to be
574 |307 |00:53:12,150 ~-~-> 00:53:21,510 |properly funded. And you're probably saying what 10,000 hours, Michael, that's, that's nothing, you don't even know where I'm going yet to sit down. But you're
575 |308 |00:53:21,510 ~-~-> 00:53:37,860 |trading with $2,000. And you're literally trying to trade with a mini contract, whether it be s&p, or NASDAQ. You have such a small razor edge to walk on before
576 |309 |00:53:37,860 ~-~-> 00:53:50,100 |you're ended. Just because of the natural volatility that we have in the markets right now. And I'm sorry, listen, folks, I'm sorry, if you think I'm beating up
577 |310 |00:53:50,100 ~-~-> 00:53:57,600 |any one particular company, or that's not what I'm saying here. And if you own one of these companies, you know, you're pissed off right now. You know what I'm
578 |311 |00:53:57,600 ~-~-> 00:54:06,630 |saying? It's the fucking truth. But I'm also going to tell you that this is a viable option. If you listen to what I'm going to say in this presentation
579 |312 |00:54:06,630 ~-~-> 00:54:15,480 |today, if you follow these fucking rules, you stand a far better chance than doing anything else out there. I don't need to do a funded account challenge and
580 |313 |00:54:15,480 ~-~-> 00:54:29,220 |know how to whip their ass at it. I don't need to do that. I have the perfect laboratory experiment right now because my son listened. Push the button. Now
581 |314 |00:54:29,220 ~-~-> 00:54:40,560 |he's funded. But he needs to know how to do it. That's why I'm invested into it. That's the only reason why I want him. He wants to deal with his own money.
582 |315 |00:54:40,590 ~-~-> 00:54:54,360 |Wonderful. You want to take my money. Wonderful. So now, listen, go out there. Do what I told you to do. Follow the rules. Learn how to follow the rules and be
583 |316 |00:54:54,360 ~-~-> 00:55:06,210 |comfortable doing it. Be comfortable taking a loss Don't try to trade with the largest position, you're gonna deal with the least. Because that's how you beat
584 |317 |00:55:06,210 ~-~-> 00:55:21,060 |them. They all are inviting you to use the big battle axe here, come in here and use the fucking bazooka, we can let you trade up to 15 contracts with a
585 |318 |00:55:21,060 ~-~-> 00:55:42,180 |$4,005 $4,500 account. What the hell and, and futures will let you trade full Mini with 300 Our margin there you go. So there are brokers out there that will
586 |319 |00:55:42,180 ~-~-> 00:55:50,070 |let you trade, ridiculous leverage, which I think is that is absolutely ridiculous. But you're all thinking because here's why you're thinking you have
587 |320 |00:55:50,070 ~-~-> 00:56:02,910 |to have big leverage. Okay? Every time Dick and Harry and Patrick will want to swing with 15 contracts. Because they know in their heart of hearts, they're
588 |321 |00:56:02,910 ~-~-> 00:56:10,440 |going to have the inevitable tailspin and blow out. So they want to get those big wins when they're on a roll. But they already know deep inside and they're
589 |322 |00:56:10,440 ~-~-> 00:56:21,570 |conscious, they know. They know that one thing's coming. And it's the thing that you don't see. That's the part that social media hides from you. The people that
590 |323 |00:56:21,570 ~-~-> 00:56:31,200 |are on social media, they hide that. Here's the challenge for the people out there that say I am a funded account challenge beater, and I'm trading with a
591 |324 |00:56:31,200 ~-~-> 00:56:46,290 |fund account. And this is what I'm making today. Show us. Show us the end of the fucking year. Start right now into Monday, forget we'll we'll expose the career
592 |325 |00:56:46,380 ~-~-> 00:56:57,570 |up to now for this year, start your account funded, combine on Monday, get funded, show that publicly what the what the account number is, okay? And go
593 |326 |00:56:57,570 ~-~-> 00:57:05,790 |through the logic of showing it every single day and how you got paid out at the end of the year. Do that. Because that's what I don't see. I don't see that with
594 |327 |00:57:05,790 ~-~-> 00:57:18,060 |any of any of these guys, or gals. And you're not entitled to do it. I just see these these personalities out there. They're trying to say because I'll teach
595 |328 |00:57:18,060 ~-~-> 00:57:28,680 |them the demo. But they're doing is far better when you're not seeing anything except for one small little snapshot of this is what I did today. And the
596 |329 |00:57:28,680 ~-~-> 00:57:34,740 |account numbers they've been showing don't even match the ones they had two months ago. So that's not the same account, that's reset,
597 |330 |00:57:34,739 ~-~-> 00:57:46,049 |how many times did you reset, my son did dozens of this shit. He's wasted money on that. I'm the Heidi net is if perhaps that was only a spoken thing. They
598 |331 |00:57:46,049 ~-~-> 00:57:56,639 |would say, yep, that's exactly true. And this is the only one he got passed. And he only passed it because I was over his shoulder saying do that do this stop.
599 |332 |00:58:00,629 ~-~-> 00:58:15,089 |That's the truth. But he has to do this himself. He has to do it himself. Otherwise, he doesn't know how to do it. And that's what I'm trying to do. I'm
600 |333 |00:58:15,089 ~-~-> 00:58:26,339 |trying for him to learn how to do it independent and successfully independent from me. I don't want to go in there and help him by saying, buy here, sell
601 |334 |00:58:26,339 ~-~-> 00:58:40,529 |here, stop here, do this. I don't want to do that. Because if I'm doing that, I'm just going to do a Family Fund Management account, which is an LLC, if you
602 |335 |00:58:40,529 ~-~-> 00:58:51,209 |want to learn about that, I'll do it another Twitter space. But you can create all these things where your children can draw salaries from and you just do one
603 |336 |00:58:51,209 ~-~-> 00:59:04,499 |thing, and that's it, they live off of it. That's the that's the, that's my plan B if none of my children and they had to 30 years old. If they don't know how to
604 |337 |00:59:04,499 ~-~-> 00:59:11,549 |do this, they can't do it. Then I'm just gonna run an account with a nick on 1000 hours a year, and that's all they'll ever make for me. But I got to do one
605 |338 |00:59:11,549 ~-~-> 00:59:23,279 |thing, that one account, and I don't need to do shit to do that. Literally nothing, nothing at all for me to do that. I have five kids. That's only 500,000
606 |339 |00:59:23,279 ~-~-> 00:59:33,599 |hours. I can let that shit in every eight weeks. 500,000 hours. It's easy. That's easy. It's just math folks. It's just math. You just don't know how to
607 |340 |00:59:33,599 ~-~-> 00:59:43,679 |string an equation together to get that number. We're gonna talk about that tonight. Well today coming up tonight. So yes, he has a goal he has to hit
608 |341 |00:59:43,709 ~-~-> 00:59:53,699 |$650,000 And just so you know, tops that we won't be doing it through you. We're gonna we're gonna hit 10,000 and we're gonna pull out and then a 10,000 We're
609 |342 |00:59:53,699 ~-~-> 01:00:06,509 |going to go into amp and then he's gonna use AMP over the course of the duration Between then and when his girlfriend graduating comes home from college. So he
610 |343 |01:00:06,509 ~-~-> 01:00:16,589 |will have post taxes, that means he's got to pay taxes through this all to folks. He's going to 650,000 hours, by 1000 hours is going towards a home
611 |344 |01:00:16,589 ~-~-> 01:00:28,199 |purchase for them. And he'll have over 3000 hours in the bank. My goal is for him to know how to do this on his own, and he can carve out anywhere between
612 |345 |01:00:28,199 ~-~-> 01:00:38,099 |7500 to 10,000 hours a week. Tradable withdrawal funds. That's my personal goal, as is that everybody wants to know, what is your goals? You know, what would it
613 |346 |01:00:38,099 ~-~-> 01:00:48,269 |be for your son and daughter, what would it be, I want them to be able to hit 7500 to 10,000 hours a week. To me, that is very, very strong earning potential.
614 |347 |01:00:48,869 ~-~-> 01:00:57,269 |And it also relieves the necessity to have to trade every single month, if you have that much padding, because there's going to be a time when you're going to
615 |348 |01:00:57,269 ~-~-> 01:01:04,859 |end we're going into right now August August using typically sucks. It's it's the month that you know, we don't have any holiday in the United States.
616 |349 |01:01:06,029 ~-~-> 01:01:13,949 |Congress usually goes away, you know, it's a lot of shit that goes on in August, where if that's the month you're going to take a vacation. That's the time you
617 |350 |01:01:13,949 ~-~-> 01:01:25,319 |do it. That's that's then because it's just really weird month. Now, because I said this is probably gonna be an amazing, highly precise, technical month. And
618 |351 |01:01:25,319 ~-~-> 01:01:38,279 |if it does, that's great. I'll be here for it. But as a general rule of thumb, having 7500 to 10,000 hours a week. Earned income. That's withdrawal funds. To
619 |352 |01:01:38,279 ~-~-> 01:01:47,909 |me, I think that is the goal that my children should strive for, can they hit it, if they listen to me, they will do fucking 20 times that. I didn't
620 |353 |01:01:47,909 ~-~-> 01:02:04,379 |exaggerate. The problem is, they're human, just like you are. And you want to rush to get to that end, the end goal, paid out funded account. You don't
621 |354 |01:02:04,379 ~-~-> 01:02:18,179 |realize once now he's he's at the he's at the show. Now. He's at the dance. And he doesn't have his dancing shoes yet. He's not properly dressed. I'm just
622 |355 |01:02:18,179 ~-~-> 01:02:30,689 |escorting him there to the dance. So now this is the part where I say you have to do this this way, or fail. If you fail, and you tried it, and you did
623 |356 |01:02:30,689 ~-~-> 01:02:44,039 |everything that the rules say, and you failed, I will not and I cannot be upset with you. Because it's my rules. If you fail this, that means that failed. If
624 |357 |01:02:44,039 ~-~-> 01:02:55,499 |you follow every fucking rule that I tell you, you will have no responsibility whatsoever. But just like I teach you with logging, in journaling, everything.
625 |358 |01:02:56,399 ~-~-> 01:03:03,779 |You're using that as a pseudo experience, you're tricking your brain saying, Oh yeah, I saw this trade coming. And they cuz you're doing that. And you're
626 |359 |01:03:03,779 ~-~-> 01:03:10,709 |detailing with annotations, and you're seeing snapshots of price action like that. Your subconscious retains that and you sugarcoat it with all the self
627 |360 |01:03:10,709 ~-~-> 01:03:19,559 |love. Oh, this is great. I love seeing this happen. It came to fruition just like I thought it would. And you're writing a fictional book. But that fictional
628 |361 |01:03:19,559 ~-~-> 01:03:33,389 |book is meaningful to you. And it's about you the perfect future you will hear in his trading with this funded account. He has to follow these rules. If he
629 |362 |01:03:33,389 ~-~-> 01:03:49,439 |doesn't follow them correctly. He fails on his own accord. If he does what I tell him to do and only execute on those bases. I have failed. So I have removed
630 |363 |01:03:49,469 ~-~-> 01:04:03,269 |all of the fear for him. I've removed any reason the second guest shit is nothing nothing to beat himself up. But he has to show up at the right time and
631 |364 |01:04:03,269 ~-~-> 01:04:11,549 |do exactly what these fucking roles are. I'm gonna tell you that's what we're here today for get to the point is that these bullshit I got things to do as a
632 |365 |01:04:11,549 ~-~-> 01:04:20,729 |baseball coming coming on. I gotta go somewhere. I'm staying up late now man, I can't I can't see you at the other shed get to the point. It's gonna be like 15
633 |366 |01:04:21,119 ~-~-> 01:04:34,319 |YouTubers tonight, splicing all this stuff into this next couple minutes and sparing you all the parts that were really more important. Get an ad revenue. So
634 |367 |01:04:35,699 ~-~-> 01:04:47,279 |for a 50,000 hour top step account that he has access to once he funds it pays where he's already earned the right to do it. But he's got a $2,000 account just
635 |368 |01:04:47,279 ~-~-> 01:05:03,299 |like everybody else that has one. So he can't trade. Five contracts, like they say can't do not allow. That's my rules. Additionally, he cannot trade one mini
636 |369 |01:05:03,299 ~-~-> 01:05:19,289 |either. What was he supposed to trade? On micro? Come on, man. I'm never gonna get rich trade micro count. Come on a micro contract ICP we're talking about
637 |370 |01:05:19,289 ~-~-> 01:05:30,599 |$2 $2 per point. Come on man, you got something better for me than that? No, that's exactly what you need. That's exactly what you need. Let me give you some
638 |371 |01:05:30,599 ~-~-> 01:05:44,759 |numbers as it is right now my son who's 18 years old, just graduated homeschooling he geese fresh out the box green, brand new little whippersnapper.
639 |372 |01:05:46,589 ~-~-> 01:05:54,569 |Scott strong, arrogant walk around like a peacock ain't got no reason to feel that way because he ain't got anything set for gaming and his athleticism.
640 |373 |01:05:55,649 ~-~-> 01:06:10,259 |That's it. The boy makes literally gross $400 a week working in a coffee shop. So for an hour a week is what his gross income is. He gets paid every two weeks.
641 |374 |01:06:10,589 ~-~-> 01:06:20,069 |So he has to wait two weeks before he gets his ends met. And what ends does he have I make him pay his own car insurance. And is because he had a car accident
642 |375 |01:06:20,069 ~-~-> 01:06:26,729 |earlier in the year his fault because he didn't listen to me by staying on the on the right side of the yellow line. He crossed solid line to go around so he
643 |376 |01:06:26,729 ~-~-> 01:06:35,969 |was going too slow. So what is his problem? He's impatient. And I told him don't cross the yellow line. I don't care who's in front of you. I don't care how slow
644 |377 |01:06:35,969 ~-~-> 01:06:51,329 |they are. Stop whoever Nope, they want to listen to cosmetics same way with this he's rushing to get funded like that was gonna be some magical experience now
645 |378 |01:06:51,329 ~-~-> 01:07:00,059 |he's gonna start making money because he's funded now look at look at a testimonial how many times you did resets, you don't have to fucking trade so
646 |379 |01:07:00,059 ~-~-> 01:07:11,849 |you have to learn how to trade you have to manage yourself more properly and learn discipline he doesn't have that yet. So he has a $280 a month car
647 |380 |01:07:11,849 ~-~-> 01:07:25,199 |insurance bill his cell phone we make him pay 70 hours a month he spent 80 $80 a month in gas and on average he spends about $350 a month on entertainment
648 |381 |01:07:25,199 ~-~-> 01:07:29,729 |between him but you know buying whatever he wants to buy and pay for
649 |382 |01:07:31,170 ~-~-> 01:07:41,010 |any entertains his girlfriend new twice twice a month and when they go out to eat or something and the rest of his money you know he just sucks it. So I told
650 |383 |01:07:41,010 ~-~-> 01:07:52,110 |him I said listen, the first rule is that we have to duplicate your income that you spend your ends you have to be able to do that in addition to so that skill
651 |384 |01:07:52,110 ~-~-> 01:08:00,000 |set is something I teach all of you to try to you try to do that not get rich not try to get 50 are multiples not trying to be on the leaderboard of F TMO not
652 |385 |01:08:00,000 ~-~-> 01:08:10,230 |try to do this and try to do that your goal should be all monetary making ends meet. So how do we do that? You have to have your bills, what's your what's your
653 |386 |01:08:10,230 ~-~-> 01:08:23,190 |spendable expenses and once again, just realize my phone is about the crook here and these things drain them out my battery bear with me one second.
654 |387 |01:09:15,120 ~-~-> 01:09:28,410 |Want to put the lead away for just a second. My phone has 1% and I'm about to die and you could put them in the cage
655 |388 |01:09:42,930 ~-~-> 01:09:50,160 |don't take American Express. Use this Discover card. I'm gonna put these right here
656 |389 |01:10:30,780 ~-~-> 01:10:34,560 |It's only downside to having a big as house phone chargers on the other side of it
657 |390 |01:10:40,470 ~-~-> 01:10:42,720 |all right, we should be good now. Anyway
658 |391 |01:10:50,820 ~-~-> 01:11:05,580 |that my notes here. This is so unprofessional ICT Yeah, go fuck yourself, I'm spending my Saturday talking to you for free. So his total expenses come to $738
659 |392 |01:11:05,580 ~-~-> 01:11:17,430 |a month. For an 18 year old, he's got $730 A month coming out, he lives in my home. We feed him, except for if he wants to take his girlfriend or himself out
660 |393 |01:11:17,430 ~-~-> 01:11:30,150 |to a restaurant or whatnot. So I'm gonna say let's set a goal. To make $1,000 a month, you have to do this three months in a row. You have to you have to do
661 |394 |01:11:30,150 ~-~-> 01:11:45,300 |that. Because if you do something for 90 days, then you will see that that is something that can repeat. It can become a habit. I don't think 30 days is a
662 |395 |01:11:45,300 ~-~-> 01:11:54,660 |ground breaking thing. That creates a habit because anybody can do something for a month. Think about how many times have you done a diet? We should have been a
663 |396 |01:11:54,660 ~-~-> 01:12:04,440 |habit, you should have been able to live the rest of your life like it's not 90 days. Every successful weight loss program or training regimen. The ones that
664 |397 |01:12:04,440 ~-~-> 01:12:15,120 |are seeing the best results always do at least 90 days. Well, in this because I'm at money. One month, one snapshot of a day I made this much money today.
665 |398 |01:12:15,120 ~-~-> 01:12:33,180 |Look at me. It don't mean shit. It don't mean anything. This may not be a lot of money to you may not be a lot of money for anyone. But to him it is because I
666 |399 |01:12:33,180 ~-~-> 01:12:44,250 |don't dole out money. Hang on one second, we have an air conditioner guy come in here and to make sure my wife had her Carson. She's asked me something. They
667 |400 |01:12:44,250 ~-~-> 01:12:59,700 |can't hear you. Yeah, what you just sign it. We have two, two air conditioners here. And we run them very, very low. That's keep the house real cold. And yes,
668 |401 |01:12:59,700 ~-~-> 01:13:11,700 |it's hot. But I got our air conditioner on the upper floors won't go down below 70 degrees. And I don't like that. So I have people coming out here if I gotta
669 |402 |01:13:11,700 ~-~-> 01:13:19,470 |get another unit installed, and that's what it is. But yes, this is what it's like to be on a live session, and I will go off and do different things and
670 |403 |01:13:19,590 ~-~-> 01:13:32,730 |discussions. And that's just the way my mind works. But $1,000 a month is what his goal is. So you're probably thinking okay, $1,000. Okay. How can you do that
671 |404 |01:13:33,120 ~-~-> 01:13:42,900 |with a $2,000 trading account, but we'll call it a 50,000 are funded account, because that's what everybody wants to call it. It's a 2000 our equity, that's,
672 |405 |01:13:42,930 ~-~-> 01:13:50,820 |that's what you have. So I told him, I said, Listen, you're already paying what would be equivalent to eight and a quarter percent. If they go up to 165. And
673 |406 |01:13:50,820 ~-~-> 01:14:01,680 |they keep it at $49 a month plus the taxes or whatever it is, you're still you're still paying interest. You're paying interest to have access to something
674 |407 |01:14:01,680 ~-~-> 01:14:11,100 |like a credit card. If you don't do any trade, you're still paying an interest payment whether you use it or not. That's what you don't realize, when you're
675 |408 |01:14:11,100 ~-~-> 01:14:22,590 |looking at these funded account companies, you're paying an interest. A monthly subscription is an interest payment or money that doesn't even exist. great
676 |409 |01:14:22,590 ~-~-> 01:14:32,250 |business model, great business model. Is it helpful to someone that is not financially literate? Absolutely not. It's like playing Russian roulette. And
677 |410 |01:14:32,250 ~-~-> 01:14:45,210 |the ease or the I guess you could say the approachable. benefits to being cheaper. You might look at that said well, you know, you're not do blow it I can
678 |411 |01:14:45,210 ~-~-> 01:14:54,180 |afford to do $49 Again, it doesn't cost that much. Well, that was the mindset my son had. My own son had that same mindset, but he wasn't doing it for $49 He was
679 |412 |01:14:54,180 ~-~-> 01:15:05,490 |doing it when it was the full whatever it was. I don't even know how much money he's wasted on it. but I got it. I had to get involved and intervene and tell
680 |413 |01:15:05,490 ~-~-> 01:15:12,480 |him look, you have to do this with a structured mindset. You just can't go in here and swing for the fences and just think something magically is going to
681 |414 |01:15:12,480 ~-~-> 01:15:25,650 |happen. So I told him I said, you cannot afford to trade Emini contract in that's, that's the truth. Okay. I'm gonna be real blunt with you, for the folks
682 |415 |01:15:25,650 ~-~-> 01:15:41,640 |that have $150,000 funded accounts. If you're trading more than two contracts, many you're asking the blow up. You should be trading to Microsoft. Are you
683 |416 |01:15:41,640 ~-~-> 01:15:54,060 |fucking kidding me? Yes, absolutely. I'm telling you the truth, I'm telling you the truth, okay? That's the reality. Because if you have 150,000 are funded
684 |417 |01:15:54,060 ~-~-> 01:16:03,090 |account, you can only lose 4500 hours. If I did that, right. And if I read their website correctly, if I'm wrong, I apologize. And I'll retract it and say
685 |418 |01:16:03,090 ~-~-> 01:16:15,360 |something in a tweet that would be more accurate, but my understanding is $150,000 account, only afford you to lose up to 4500 hours. And then 3000 hours
686 |419 |01:16:15,360 ~-~-> 01:16:28,020 |maximum 400,000 are funded account and then 50,000, is you only get to lose 2000 before they end the show for you. So that's all you have. And while that is in a
687 |420 |01:16:28,020 ~-~-> 01:16:40,920 |certain measure of being unfortunate, in a way, the way it's being presented, and, and packaged. That isn't the end of the road. So here's my son, he's at the
688 |421 |01:16:40,920 ~-~-> 01:16:52,110 |cusp of executing on this this week, he's going to pay for his funded account to be began. I know it says it's an Express account. So I don't know what that is.
689 |422 |01:16:52,590 ~-~-> 01:17:01,470 |But that's what it apparently will become when he pays for it to begin. So whatever he earns, from that point on, as long as he has several days of
690 |423 |01:17:01,470 ~-~-> 01:17:13,980 |profitability, he can ask for up to 50% of it. We're not interested in 50%, because we're going to do all of it. And then we're done. But the idea is he
691 |424 |01:17:13,980 ~-~-> 01:17:25,020 |needs to be trading one micro contract. That's all he can afford to trade. But what if you're a better trader? That's all you can afford to trade? Where am I?
692 |425 |01:17:25,050 ~-~-> 01:17:36,600 |Where am I stuttering in it, you get one contract. at the micro level, if you only can afford to lose $2,000 That means you're only trading with one singular
693 |426 |01:17:37,320 ~-~-> 01:17:47,250 |micro contract. I see all these guys on YouTube. I watch them. Okay. And I love the fact that they have the brass the Moxie to get out there and do that. And
694 |427 |01:17:47,250 ~-~-> 01:17:57,630 |sometimes it's very entertaining. Okay. Sometimes it's tragic, because they are they're trying, but they're trying with too much leverage, and you don't have a
695 |428 |01:17:57,630 ~-~-> 01:18:09,060 |trade that really compounds it. So my own son fell victim to that same shit where you don't have to trade and you're trying to over leverage. That's
696 |429 |01:18:09,060 ~-~-> 01:18:20,400 |lottery. That's casino mentality. It's you going in there trying to gamble. So I told him, I said, for every $2,000. Right now you'll have 2000 you can work
697 |430 |01:18:20,400 ~-~-> 01:18:33,240 |with. So if you make $2,000 more, then you can afford to trade a second micro account contract rather. So for someone who doesn't know what a micro is, when
698 |431 |01:18:33,240 ~-~-> 01:18:43,710 |we talk about trading minis for the s&p E Mini contract, for one point, that means it's four ticks. And what would that look like? If you were trading 4500,
699 |432 |01:18:43,740 ~-~-> 01:18:59,220 |even if they went up to 45 01. That's one handle or four ticks, or the equivalent of $50 in change of fluctuation from one price to 4500 to 45, or one.
700 |433 |01:19:00,000 ~-~-> 01:19:16,800 |That's $50 increment, in terms of monetary value, but it's four ticks. For NASDAQ. It's usually we'll just say 15,800 to 15,000 801. That's one handle or
701 |434 |01:19:16,800 ~-~-> 01:19:31,590 |four tix for a mini that's $20 in the NASDAQ. So a micro for s&p Micro is going to be $5 per point and you're thinking what the hell? Well, it's equipment to
702 |435 |01:19:31,590 ~-~-> 01:19:41,850 |dow futures. You're just chopping it down from 50 to $5. I can't make money, man, you can make your whole fucking career income right now trading just one
703 |436 |01:19:42,180 ~-~-> 01:19:53,430 |micro. So if I hear any of this shit on Twitter, if I see any goober on YouTube, you're going to have to be showing that you can't make money because I'm gonna
704 |437 |01:19:53,430 ~-~-> 01:20:05,190 |tell you right now. My son is about to do it. He's about to do this very thing with a micro Not even a mini okay? He's not even gonna do nowhere near what they
705 |438 |01:20:05,190 ~-~-> 01:20:16,680 |say they're offering to you. You can trade it the five contracts. No. Does that mean you can trade five micros No. $2,000 increments. That's what affords him.
706 |439 |01:20:17,160 ~-~-> 01:20:26,910 |One more micro. When can he trade the money? Never. Because when he gets a $10,000, he's asking for all of his money, he's getting the fuck out of dodge.
707 |440 |01:20:28,980 ~-~-> 01:20:38,910 |Some of you, I've done the math, okay, he said 2000. Now, you can trade with one and guess the two you can trade to? No. He's not allowed to trade with one mini.
708 |441 |01:20:40,770 ~-~-> 01:20:44,010 |He doesn't have the equity to support it. See
709 |442 |01:20:45,450 ~-~-> 01:20:56,130 |all these fucking clowns out there and pretend to be gurus and mentors and teachers and this now the thing. They're absolutely gambling. That's why they
710 |443 |01:20:56,130 ~-~-> 01:21:02,730 |don't have a large degree of profitable students. Everybody can come out here and have a whole bunch of people with certificate saying they got funded. That
711 |444 |01:21:02,730 ~-~-> 01:21:15,150 |doesn't mean dick. How much money you making, as in spendable money, how much money came out where you can go out and spend it. That's what really matters
712 |445 |01:21:15,150 ~-~-> 01:21:26,040 |here. And I'm trying to get your mindset to understand that. That part is the goal, not getting a certificate. Well, that's wonderful. That's wonderful that
713 |446 |01:21:26,040 ~-~-> 01:21:34,350 |you got to that point, and you're funded, that's wonderful that you got to pay out. But that's just one thing. That doesn't get you act like you retired from
714 |447 |01:21:34,350 ~-~-> 01:21:43,440 |trading when you did that. And I'm not trying to talk down to you, but I'm making sure you understand. I'm talking to my son. I'm not trying to diminish
715 |448 |01:21:43,440 ~-~-> 01:21:52,080 |your appreciation for your efforts. And so you have worked very, very hard, and you finally got funded, and you finally got a withdrawal. And that's wonderful,
716 |449 |01:21:52,080 ~-~-> 01:22:01,350 |and I'm proud of you. But you're not That's not it. If that's all you went into this and then many of you think that's all there is to it. That's that's, that's
717 |450 |01:22:01,350 ~-~-> 01:22:12,210 |the visibility point you have. That's as far down the road, you can see is your first payout. That that's not a career. That's a one night stand. Fuck that. You
718 |451 |01:22:12,210 ~-~-> 01:22:23,070 |need to have a lifetime expectancy, that's beyond your first payout. And truth be told, I guarantee none of you really thought about like that until right now.
719 |452 |01:22:26,580 ~-~-> 01:22:36,480 |Think about it, you just got to get a happy ending. You just got to feel good that you've done it. And then you will fall in love with trading, then I'll
720 |453 |01:22:36,480 ~-~-> 01:22:45,030 |really put my efforts in being organized. I just, I just got some oats ICT, you know how it is feel. So we're at Wild Oats and get out there and have fun and
721 |454 |01:22:45,030 ~-~-> 01:22:53,040 |really make a mess of things. And if we can come out profitable and dodge and St. Being in, it's wonderful. It's great. But you can't, can't have that
722 |455 |01:22:53,040 ~-~-> 01:23:05,160 |mindset. Can't have that mindset as a trader, you got to be absolutely disciplined. So I'm forcing that on my son. These are his rules $2,000 That
723 |456 |01:23:05,160 ~-~-> 01:23:17,400 |means he's got one micro for NASDAQ, that means he's going to make $2 or lose $2 per point or handle a handle is four ticks. One point is four ticks, I use that
724 |457 |01:23:17,400 ~-~-> 01:23:41,160 |term interchangeably. It means the same thing. So he cannot trade another micro until he makes $2,000. Wow, that's that's a slow call. Yeah. Finding
725 |458 |01:23:41,160 ~-~-> 01:23:54,960 |consistency, finding your way as an entrepreneur, a business oriented mindset as a trader, it is a slow but steady pace. We're not gambling. Okay, we're not out
726 |459 |01:23:54,960 ~-~-> 01:24:12,210 |there trying to impress anybody. He is trying to work towards making his ends in this it takes time. It takes time for you to understand what it is that you're
727 |460 |01:24:12,210 ~-~-> 01:24:22,020 |supposed to be believing in yourself that you don't have to hurry up. You don't have to hurry up. But you do have to outpace that eight and a quarter percent
728 |461 |01:24:23,310 ~-~-> 01:24:35,490 |net monthly fee. If they go back to their regular charging, if they keep it at 70% discount or whatever. It's still a percentage but you're still paying
729 |462 |01:24:35,490 ~-~-> 01:24:51,810 |something and you have to outperform that and still see growth. So his scaling is this. He's going to shoot for four NASDAQ minis I'm sorry, micros. He's gonna
730 |463 |01:24:51,810 ~-~-> 01:25:07,260 |look for 20 points risk. That means his stop loss can be 20 points. How much can he lose if his multiplier is $2 per point. 80 bucks. Let me ask you something.
731 |464 |01:25:07,590 ~-~-> 01:25:22,320 |If you lost 80 bucks in your combine, would it shake? You know? Nope. But you don't think you're trading unless you're watching it go bananas. Several 100
732 |465 |01:25:22,320 ~-~-> 01:25:32,520 |points. I'm sorry. 700 hours up and down first minute or two in the trade because you're trading with the maximum a lot allows you so you're, you're
733 |466 |01:25:32,520 ~-~-> 01:25:49,020 |looking at it for the excitement aspect. You need to be fucking boring. You need to be boring. When you watch the world. What is it? The poker broke up. Do you
734 |467 |01:25:49,020 ~-~-> 01:26:00,960 |ever see those players on The Final Table? Acting like their own fucking cooking all hopped up? Hell no. They're dialed in. They're doing the shit that they
735 |468 |01:26:00,960 ~-~-> 01:26:12,240 |know. They're following rules. Show no emotion until the hands done. And then okay, I played out, well, I went all in, I got that. But then right back to what
736 |469 |01:26:12,240 ~-~-> 01:26:23,550 |stone faced no emotion, play the cards, play the player across the table. That's it. That's the rules. Push it when it's there. dial back, fold it when it's not
737 |470 |01:26:24,330 ~-~-> 01:26:37,620 |here. Because he has no fucking control over himself. That said, you get to trade one micro contract. Guess what that does. If you looked at the math behind
738 |471 |01:26:37,950 ~-~-> 01:26:51,090 |trading with one mini, okay. You have the plug pulled on you at $1,000 loss on a 50,000 IRA funded account. So that means they step in, they intervene, say,
739 |472 |01:26:51,090 ~-~-> 01:27:03,480 |okay, you've had enough fun for today, too much internet for you. And they stop you. That's wonderful. I would say that's actually a good thing, because they're
740 |473 |01:27:03,480 ~-~-> 01:27:11,160 |going to give you a second chance. Because chances are on the second day that you get allowed to go in there and do it again, you're gonna blow the account,
741 |474 |01:27:11,700 ~-~-> 01:27:18,990 |because you've been number one gonna be mad, you're gonna be impatient because the move that you really should have been a part of the day before when you were
742 |475 |01:27:18,990 ~-~-> 01:27:25,890 |not in that direction. But you're going to convince yourself, Oh, if I was really trading, if they want to stop me, I would have bullshit, you would have
743 |476 |01:27:25,890 ~-~-> 01:27:32,190 |lost your account that day. You don't have to trade most of you have no idea what you're doing. But you're trying to get out there and have a casino moment.
744 |477 |01:27:33,810 ~-~-> 01:27:48,150 |And I'm not allowing for I'm not building in the allowance for that in Cameron's model. So 80 bucks, is what he's trying to make.
745 |478 |01:27:58,770 ~-~-> 01:28:16,470 |80 bucks of $738 a month. That's a nice little bite out of that. What happens if you just made $80 a day? You for the person listening to this that has a rent
746 |479 |01:28:16,470 ~-~-> 01:28:23,070 |payment, or a mortgage payment, or a car note that you knew damn well you shouldn't have bought that car, it was too much money for you to buy it. But you
747 |480 |01:28:23,070 ~-~-> 01:28:38,940 |had to impress your friends. If you had $80.03 times a week, what would that do for your finances? See, that's how I teach. I try to be a voice of reason so
748 |481 |01:28:38,940 ~-~-> 01:28:48,360 |that we understand number one, if you can get to that point, and be consistent about it and not get juiced up on the emotions. We're logged in to with greed.
749 |482 |01:28:50,040 ~-~-> 01:29:05,880 |Oh man, I saw this guy on YouTube. Oh my goodness, man, he just literally just did $10,000 I got to do that. Ask the guy did it 10,000 hours to show you the
750 |483 |01:29:05,880 ~-~-> 01:29:25,380 |same account for six weeks. I wager that you're not seeing a $10,000 growth in the same account. But you'll receive that because it's in Tyson. That enticement
751 |484 |01:29:25,410 ~-~-> 01:29:36,540 |is a big selling point. Like if I was a piece of shit, I could literally market my ass and do all kinds of shit and make millions of dollars every week. That's
752 |485 |01:29:36,540 ~-~-> 01:29:45,840 |not my motive. My motive is to teach people how to do this. And I do it for free. I'm giving you something that you don't have any entitlement to my son's
753 |486 |01:29:46,620 ~-~-> 01:29:54,660 |real approach that he's gonna be going on trade with. He's risking 40 bucks.
754 |487 |01:30:00,539 ~-~-> 01:30:14,429 |To make ad for NASDAQ, that's a really simple model. If you look at the silver bullet, which is his model, that's his trading model. I'm not hiding that from
755 |488 |01:30:14,429 ~-~-> 01:30:25,259 |you. Now, honey long, I set up yesterday. If you look at your one minute chart, this is the interactive part. If you're not able to look at the charts right
756 |489 |01:30:25,259 ~-~-> 01:30:34,379 |now, if you're driving, just know that, you know, you can send yourself a tweet or send a tweet to me to make sure that this is what you're looking for. I'm
757 |490 |01:30:34,379 ~-~-> 01:30:48,269 |sure somebody else is going to tweet a chart and show you the actual moment but at 1pm and 56 minutes after, so 1:56pm, near local time, yesterday, that very
758 |491 |01:30:48,269 ~-~-> 01:31:05,129 |one minute fair value gap was the 2pm to 3pm Silverbolt. Your entry would have been in the 241 time on New York local time. That model was right there. For you
759 |492 |01:31:05,129 ~-~-> 01:31:15,089 |that you're trying to teach my silver bullet on YouTube and other places. I did not say that the Faraday got forms in in only between two o'clock and three
760 |493 |01:31:15,089 ~-~-> 01:31:30,059 |o'clock. You're trading a fair value gap between the time of 2pm and 3pm. You're trading a silver bullet that's traded to between the hour of 10am and 11pm. For
761 |494 |01:31:30,059 ~-~-> 01:31:41,909 |the am session. You're trading a London session Silver Bullet between 3am and 4am. New York local time. You have three fucking chances to do this model. When
762 |495 |01:31:41,909 ~-~-> 01:31:55,169 |you get one you stop. Cameron, stop. You don't do another one. You don't push them again. You don't try to get more you stop. If you have a losing trade. You
763 |496 |01:31:55,259 ~-~-> 01:32:04,319 |stop. You don't try to get it back that day. You stop. You don't need top step to come in and say you lost half your account. Because that's what you're doing.
764 |497 |01:32:04,559 ~-~-> 01:32:06,119 |You're losing half of your account
765 |498 |01:32:11,580 ~-~-> 01:32:22,530 |some of your pitching suddenly $1,000 I got 50,000 You got nothing. You have nothing you have a facade. You have a fucking illusion. That money's not there.
766 |499 |01:32:23,580 ~-~-> 01:32:34,500 |But you don't see that you have to be stopped. That is a very good thing. It's a good thing to have that in place. But you're you're you're feeling it you're
767 |500 |01:32:34,500 ~-~-> 01:32:45,060 |feeling and seeing it as this is an obstacle or a fucking is an obstacle if you're trying to cheat with five minis. And you can only afford to lose $1,000
768 |501 |01:32:45,210 ~-~-> 01:32:54,390 |Let me tell you something, I'm fucking inner circle trader if I'm trading five minis and I can only lose $1,000 Or have drawdown at that point before I'm
769 |502 |01:32:54,390 ~-~-> 01:33:05,580 |stopped out. I have to be really fucking dialed in. And look at this market right now. Look at it it's funky, it's wonky. It's got all kinds of little
770 |503 |01:33:05,580 ~-~-> 01:33:21,180 |fucking shitty quirky things going on in it you have to be realistic folks. And if this is all about making money, not Dick measuring this is how you make money
771 |504 |01:33:22,350 ~-~-> 01:33:32,700 |one fucking micro contract and you can only trade one micro contract in addition to that when you make $2,000 So if you make $2,000 And you make another $2,000
772 |505 |01:33:32,700 ~-~-> 01:33:51,480 |After that you have made what you have $6,000 in play 4000 of it is realize game. Now at that point, you can trade with three micro contracts. So now you're
773 |506 |01:33:51,480 ~-~-> 01:34:04,830 |trading with $6 per point on NASDAQ so your scaling is your your stop loss. Listen Listen folks. How many trades could you have avoided being stopped out or
774 |507 |01:34:04,830 ~-~-> 01:34:19,170 |being scared from holding anymore? If you can afford to use a 20 handle or 20 Point stop loss on NASDAQ and it only takes 40 bucks from you if you're wrong
775 |508 |01:34:21,300 ~-~-> 01:34:32,880 |but you stand to make 80 bucks if you're right you got three silver bullets today but I can't trade London Okay, find one that works but I can't do then you
776 |509 |01:34:32,880 ~-~-> 01:34:41,790 |have to make changes in your personal life. I can't fix every fucking thing. These are the rules okay, you have to bend to them they don't fucking bend to
777 |510 |01:34:41,790 ~-~-> 01:34:49,680 |you. That's what a trader does. The trader is a person that follows the rules and the rules are there the fucking protect them on a long term if you can't see
778 |511 |01:34:49,680 ~-~-> 01:35:01,080 |that you can't fucking trade period. I don't give a fuck who's telling you any otherwise, that's the reality. You have to have this When you have to have
779 |512 |01:35:01,080 ~-~-> 01:35:11,430 |control, and the only way you forge those two things is to operate in the realm of having rules. And I'm not going to sit here and blow smoke up your fucking
780 |513 |01:35:11,430 ~-~-> 01:35:18,780 |asses and give you all roses and candy bars and say, it's going to be so easy. Look, you're never gonna have to fucking worry about doing anything that's
781 |514 |01:35:18,780 ~-~-> 01:35:25,230 |complicated, it's gonna be hard, it's gonna be fucking extremely hard, it's gonna be hard for you to follow the rules, it's gonna be hard for you to find a
782 |515 |01:35:25,230 ~-~-> 01:35:35,550 |way for you to get in front of the fucking charts. Because guess what, a lot of you are afraid that this be wrong. Me, let me tell you a story. We're not done
783 |516 |01:35:35,550 ~-~-> 01:35:43,740 |talking about the model. It's not ad revenue, don't hold near for remember, this is a Twitter space, and I'll make it tick off of it. And I'm spending my
784 |517 |01:35:43,740 ~-~-> 01:35:56,310 |Saturday with you. The other day I was trading. I was short on NASDAQ. And my youngest was sitting with me and I said, Look, you know, watch this, we're going
785 |518 |01:35:56,310 ~-~-> 01:36:06,150 |to watch it go down below these relatively glows. And it's going to draw down into that little area right here pointing to the chart. Because so how are you
786 |519 |01:36:06,150 ~-~-> 01:36:15,090 |making money? Dad? If it's going down? Aren't you losing money, I said, now you can borrow somebody's thing. And promise you're gonna get it back. But you
787 |520 |01:36:15,450 ~-~-> 01:36:24,570 |borrow it and sell it to somebody at high price. And then you buy it back. Just like if you buy a Pokemon card, okay, because when he was a little young he was
788 |521 |01:36:24,570 ~-~-> 01:36:32,430 |in Pokemon. So if you buy a Pokemon card, or borrow a Pokemon card from someone say, hey, look, can I borrow your Pikachu card? Okay, and I can only say that,
789 |522 |01:36:32,490 ~-~-> 01:36:39,960 |because that's the only card I remember from doing it all. But if you take a peek, Pikachu card, and you borrow from somebody say promise, I'll give it back
790 |523 |01:36:39,960 ~-~-> 01:36:48,540 |to you. But you know that somebody would be willing to pay you 100 bucks for that. You sell it to that person for 100 bucks, but you now owe a Pikachu card
791 |524 |01:36:48,540 ~-~-> 01:36:56,040 |to that person steal that you borrowed it from, then you go and you wait until you can find somebody that will sell you another Pikachu card in equal or better
792 |525 |01:36:56,640 ~-~-> 01:37:06,000 |condition. And you buy it from them cheaper. The difference between what you sold the one at $100 for and when you pay $50 for whatever it was, you make the
793 |526 |01:37:06,000 ~-~-> 01:37:13,410 |difference? Everybody's answered. They got what they wanted. You were just the middleman. So that was the analogy I had to use for my youngest son for him to
794 |527 |01:37:13,410 ~-~-> 01:37:19,740 |understand short selling. If someone would have told me that when I was trying to figure it out, it would have been so much easier for me. But I was afraid of
795 |528 |01:37:19,740 ~-~-> 01:37:26,430 |short selling. But we were watching the marketplace. And I kept telling him I said look, it's going to go down. And every time he would run out new 15 handles
796 |529 |01:37:26,430 ~-~-> 01:37:33,870 |or something. He was like that. Aren't you scared right now? And I'm like, No, I wanted to go up to this area over here. Because if it does, I'm going to sell
797 |530 |01:37:33,870 ~-~-> 01:37:44,460 |one more. He goes, but how are you able to make money? If you sell it there? Aren't you out? I said no, I'm adding more. I'm adding one more every single
798 |531 |01:37:44,460 ~-~-> 01:37:53,520 |time it does this, I'm adding one more. And I kept doing this on a one minute chart, kept building and building and building and we got down and making almost
799 |532 |01:37:53,520 ~-~-> 01:38:06,420 |$11,000. He's like you made $11,000 in like less than an hour. I said just about an hour. Yeah, he goes, Can you do that every day, I said I can do more than
800 |533 |01:38:06,420 ~-~-> 01:38:15,300 |this every single day. But there are days where I will try to do this and I'll get hurt. And then I'll have to wait until the next part of the day. And then
801 |534 |01:38:15,300 ~-~-> 01:38:23,730 |I'll do whatever I did in the morning, I'll do half of whatever I tried to do in terms of the size. So if daddy's trying to trade with 10 contracts, I'm only
802 |535 |01:38:23,730 ~-~-> 01:38:32,970 |going to be able to do five. So that way, if I do take a loss, I can't lose the same amount of money that I lost in the morning. So I have to control the amount
803 |536 |01:38:32,970 ~-~-> 01:38:44,730 |of exposure to the risk. Because if I offered the same amount, or I make a new approach to trying to stave off your big drawdown, which is where we lose money
804 |537 |01:38:44,730 ~-~-> 01:39:00,090 |in the account, just keep doing laying down. You have to make plateaus, in your drawdown and also control your rate of acceleration and profiting. What Yeah, I
805 |538 |01:39:00,090 ~-~-> 01:39:08,610 |teach you how to mitigate drawdown and keep it controlled. Every time you take a loss, you use half the leverage that you use the previous time and then when you
806 |539 |01:39:08,610 ~-~-> 01:39:16,710 |make 50% of that previous loss back then you can go back to what that leverage was when he took the initial loss on. If you really want to be conservative, you
807 |540 |01:39:16,710 ~-~-> 01:39:25,290 |have to make all of that loss back before you can go back to that previous mental leverage. That's not sexy. Those videos and those lectures in when I was
808 |541 |01:39:25,290 ~-~-> 01:39:34,470 |in my private mentorship and then people were paying me they did not like that. But you know what the people that make money hundreds of 1000s of dollars real
809 |542 |01:39:34,470 ~-~-> 01:39:47,220 |money not demo not Market Replay bullshit reports from NinjaTrader they use this protocol to control their drawdown it's realistic it's real world Okay, real
810 |543 |01:39:47,220 ~-~-> 01:39:56,400 |money management concepts being employed there. But what you don't realize is you don't know because you've never been profitable for for the folks it's never
811 |544 |01:39:56,400 ~-~-> 01:40:03,660 |been profitable. I'm taking great deal liberty because again, my in my mind I'm I'm speaking to my son, Cameron. So some of you to get your ass all bent out of
812 |545 |01:40:03,660 ~-~-> 01:40:12,870 |shape, you think, Oh, you're talking down to me, I'm talking to my fucking son. You don't like it Get the fuck out of here. You don't know what it feels like to
813 |546 |01:40:12,870 ~-~-> 01:40:29,820 |be profitable. It's like a fucking drug that you've never had before. And you want it. As soon as you get it in that 32nd 22nd initial, like your body will be
814 |547 |01:40:29,820 ~-~-> 01:40:37,020 |vibrating, that you did something that you made money and you didn't have to work for it. Or you just pushed a couple of buttons and now sudden, that account
815 |548 |01:40:37,020 ~-~-> 01:40:44,970 |shows that you've made money and you start doing the math on it. Man, if I did this every hour every day, do not fucking trading like that. Okay, but that's
816 |549 |01:40:44,970 ~-~-> 01:40:53,940 |the kind of dumb shit I started know, when I was doing the bond market. In 1993, when I sat down, I started trading bonds. I was like, You know what? I'm going
817 |550 |01:40:53,940 ~-~-> 01:41:05,160 |to try to make $1,000 a month. And then all of a sudden, I'm making half of a point in one trade with one contract, it's 500 bucks. I'm like, What the hell?
818 |551 |01:41:06,420 ~-~-> 01:41:14,670 |Like, I just did this this morning. And it's not even the end of the day. It's not even lunchtime. I don't even make this fucking much money gross on my job.
819 |552 |01:41:16,050 ~-~-> 01:41:26,310 |And you start thinking yourself, man, how could you just every hour, that's bullshit. But that's naive mentality. And that naivete is going to be
820 |553 |01:41:27,090 ~-~-> 01:41:36,660 |exasperated when you get into profitable trading, because you've never been there before. And when you get there and you start winning, and you finding
821 |554 |01:41:36,660 ~-~-> 01:41:43,620 |consistency, it doesn't need to be a lot of money. The fact that you're making money, that first buzz that you get off of it when you get out your first
822 |555 |01:41:43,620 ~-~-> 01:41:53,310 |profitable trader, you follow the rules with the natural impulse and tendency is I'm gonna get in there find another one. I don't believe it. That was just luck.
823 |556 |01:41:54,090 ~-~-> 01:42:07,830 |That that's the very moment where you have to stop. Cameron. You have to stop. You did your job that day. You're done. You're fucking done. You made more than
824 |557 |01:42:07,830 ~-~-> 01:42:12,330 |you would have made at your coffee fucking job. He didn't do dick.
825 |558 |01:42:15,540 ~-~-> 01:42:29,520 |Why do you have to insist on doing more? It's just in your head that you have to do that. You are feeling the emotions. That's all. You're all hopped up on
826 |559 |01:42:29,520 ~-~-> 01:42:38,760 |fucking goofballs. Okay, and you're coming off of it real fast. That's what it's like to be a trader. But the ones that are in control themselves, the ones that
827 |560 |01:42:38,760 ~-~-> 01:42:50,190 |are consistently profitable. They are the ones that manage that impulsiveness. That drug that addiction. That feel good. I did it. I beat this fucking trade. I
828 |561 |01:42:50,190 ~-~-> 01:42:59,700 |want it. And it did exactly what my mother said I was gonna do it feels so good. That small little time that you were spending in that little profitable universe
829 |562 |01:43:00,900 ~-~-> 01:43:04,740 |immediately fades away. When you look around. You're right where you were.
830 |563 |01:43:13,650 ~-~-> 01:43:27,060 |Signing back in here. Can you help signify by five? If you hear me? Any one of you? You can tweet to me. Give me a five by five if you hear me.
831 |564 |01:43:35,520 ~-~-> 01:43:48,570 |Can you hear me? Thank you very much. I'm not sure why it disconnected me but it disconnected. But we're back. So you have no idea what it feels like to have
832 |565 |01:43:48,570 ~-~-> 01:43:58,920 |that profitable state of mind. And because you've never been there before, and it feels really good. You're gonna want to do it again. And that's exactly what
833 |566 |01:43:58,920 ~-~-> 01:44:12,900 |Cameron was doing on the days that he made. When he made a profit. He wasn't satisfied. And he was trading with more than one mini over leveraging. So you
834 |567 |01:44:12,900 ~-~-> 01:44:23,520 |have to forge this discipline, you have to have this control over yourself and your emotions. And there is no book. There is no fucking mentor. There is no
835 |568 |01:44:24,150 ~-~-> 01:44:36,150 |work at all out there. And there never will be. The answer is this enigma that everybody has to go through. You have to experience it. If you've never been
836 |569 |01:44:36,150 ~-~-> 01:44:44,940 |there, and you've never made a profitable trade with real money. When I'm talking to you sounds like another language you've never learned. It's not
837 |570 |01:44:44,970 ~-~-> 01:44:54,780 |there's no point in trying to arm wrestle it because you don't know what it feels like until you experience it. But give me a number one to send a tweet to
838 |571 |01:44:54,780 ~-~-> 01:45:04,770 |me with a number one. If you when you first had a profitable trade with real count The feeling that you had, it doesn't matter how much money it was. But the
839 |572 |01:45:04,770 ~-~-> 01:45:12,660 |feeling of accomplishment how fast that faded and you wanted to go back in again, even when you knew there was nothing in the fucking charts to make you
840 |573 |01:45:12,660 ~-~-> 01:45:23,070 |take a trade because that feeling of accomplishment is what your your that's what you're really trading for. That can't be while you're trading. That that
841 |574 |01:45:23,070 ~-~-> 01:45:30,990 |cannot be the sole reason while you're trading. The only reason okay? If you'd like to take notes while you're listening to me, this is what you're writing
842 |575 |01:45:30,990 ~-~-> 01:45:46,260 |this down, okay? The only reason why you're trading is to make fucking money. Not anything else. It's to make money. And the first rule of making that money
843 |576 |01:45:46,350 ~-~-> 01:46:01,050 |is keeping what you have. Cameron's already proven he's an amazing drawdown artist. He's an amazing account liquidator amazing, much like some of you. Now
844 |577 |01:46:01,050 ~-~-> 01:46:11,430 |that's an accomplishment that can be changed and turned on its head. But you have to make allowances for it by changing and replacing bad habits. The first
845 |578 |01:46:11,430 ~-~-> 01:46:26,580 |and foremost is in patience. He can only execute between 10 and 11. He can only execute between two and three o'clock. And chances of him trading London. Good
846 |579 |01:46:26,580 ~-~-> 01:46:42,570 |luck. But the point is, is he has two opportunities where he can take a trade. And he's looking to take a trade with the NASDAQ mini no micro Yes. Now there's
847 |580 |01:46:42,570 ~-~-> 01:46:52,740 |going to be some discrepancies. If you look at the comparison between the price delivery on the micro and the Mini, they don't always deliver mark to market.
848 |581 |01:46:53,580 ~-~-> 01:47:00,930 |And here's a little tip for you for the folks that like to stay in these and I don't ever like to give you the good stuff as being because I don't cater to the
849 |582 |01:47:00,930 ~-~-> 01:47:11,010 |lazy fucks. So if you compare and contrast the micro to the Mini, many times you're gonna find there's an s&p Divergence when they run against the micro,
850 |583 |01:47:11,790 ~-~-> 01:47:19,890 |there's always gonna be some kind of exaggerated move in the micro contract versus the mini because most people are trading the micro because they can't
851 |584 |01:47:19,890 ~-~-> 01:47:30,750 |afford the the whipsaw and volatility that the mini offers. So they think, Okay, well, it's easier for me to get in here and just trade the micro. But you have
852 |585 |01:47:30,750 ~-~-> 01:47:37,410 |to have a larger stop loss. That's why it's 20 handles for the folks that why is it going to be such a large stop loss? You could do this, you can do that,
853 |586 |01:47:37,410 ~-~-> 01:47:45,180 |right? But you're trading the micro and they can be a little bit more exaggerated. So that's why I'm building in that buffer 20 handles for a
854 |587 |01:47:45,180 ~-~-> 01:47:55,470 |stoploss. Always, but what if you can do it 20 Fucking handles okay, why are you going to ask me, that's exactly what you're thinking right now. But what are the
855 |588 |01:47:55,470 ~-~-> 01:48:08,880 |times when you can make it's a 20 handle stop loss. That's the rolls, you want to listen to it, go through something else. Cameron has to use a 20 handle
856 |589 |01:48:08,880 ~-~-> 01:48:19,890 |stoploss. He's using the micro, it's a little bit more volatile. When there's a major shift in in price delivery. Don't take my word for it. Just compare and
857 |590 |01:48:19,890 ~-~-> 01:48:29,310 |contrast the one minute chart on the micro mini and you'll see what I'm talking about. Okay. Sometimes you'll see that the micro makes a lower low than the mean
858 |591 |01:48:29,310 ~-~-> 01:48:41,400 |he does. And this is because it's coded that way. For example, He there's an algorithm, but he's going to try to make 40 handles. So he's doing two to one.
859 |592 |01:48:42,930 ~-~-> 01:48:50,070 |You don't need to do the math on all this bullshit that people write these books about. All you need to, you need to have this I can make money and he can make
860 |593 |01:48:50,070 ~-~-> 01:48:57,000 |money and you can make money with a one to one ratio. I don't give a fuck what anybody says, okay, because you don't know what you're doing when you first
861 |594 |01:48:57,000 ~-~-> 01:49:04,590 |start. And these jokers that write books and courses and horseshit, they're not making profitable trades either. And here's the thing, all these are multiple
862 |595 |01:49:04,590 ~-~-> 01:49:12,450 |setups, you have to have five to one, I teach that as a thought process. And you'll see that in the core content lessons of my mentorship videos I put on my
863 |596 |01:49:12,450 ~-~-> 01:49:19,620 |YouTube channel. Stop sending a request to join my private mentorship because I don't do that anymore. And I put the lessons up on the YouTube channel for free.
864 |597 |01:49:19,650 ~-~-> 01:49:27,870 |Go and fucking join them, learn from it, study it, and it is what it is that buying people stop paying people to learn what I've made available for free. You
865 |598 |01:49:27,870 ~-~-> 01:49:34,020 |get it right from the source. And I'm ongoing teaching right here again for free. But the
866 |599 |01:49:39,330 ~-~-> 01:49:49,080 |the multiples that people say you have to have or you're going to lose. For instance, you got to have three to one minimum or your risk of Ruin is this
867 |600 |01:49:49,080 ~-~-> 01:50:00,300 |definitely because they argued that you have to have that type of ratio in your trading where you risk $1 To make $3 minimum if you can't do that Don't pick the
868 |601 |01:50:00,300 ~-~-> 01:50:08,760 |truth. Okay? That's a religion. Okay, they say I'm a cult leader, and I'm running a cult here, I'm gonna turn this shit around on you. If you think that
869 |602 |01:50:08,760 ~-~-> 01:50:17,100 |you have to have a three to one to make money, you're a fucking clown, okay? Because what you're saying is you're ignoring the idea that you know, or don't
870 |603 |01:50:17,100 ~-~-> 01:50:27,150 |know the outcome of the next series of five trades. Even with that three to one, you're assuming that you can't have a fucking losing streak of 10 trades. Think
871 |604 |01:50:27,150 ~-~-> 01:50:38,220 |about it. When I was coming up, I had that. And I had a model that worked. Because I was trying to push the button more times than I should have. That's
872 |605 |01:50:38,220 ~-~-> 01:50:48,060 |the part that's the that's the thing. That's the real troll. In your trading. The impulsiveness, the times that you want to push it faster than it really is
873 |606 |01:50:48,060 ~-~-> 01:50:55,590 |in the chart. That's where the real work is. And that means knowing where the price is going, why should it behave at time? That's why I have time aspects to
874 |607 |01:50:55,590 ~-~-> 01:51:05,400 |my trading. I cut out all the bullshit. And like I was showing you that today with the FOMC rate announcement thing, why don't I trade those days? Why don't I
875 |608 |01:51:05,400 ~-~-> 01:51:18,720 |tell my students to trade those days, because the the absence of precision. Planting planer does need to be they're highly manipulated at that time, just
876 |609 |01:51:18,720 ~-~-> 01:51:29,340 |like Non Farm Payroll, just like CPI. You know, these big events are highly manipulated. So there's manual intervention, and you can't trust your chart. I
877 |610 |01:51:29,340 ~-~-> 01:51:41,850 |don't trust mine. So you have to wait for that initial Sandstorm to pass and then go on air into your business. But you don't think that way until you've
878 |611 |01:51:41,850 ~-~-> 01:51:54,540 |been burned lots of times and lose money. But once you have learned how to keep that from happening again, and the effects of having lost money, you will
879 |612 |01:51:54,540 ~-~-> 01:52:10,110 |appreciate sound logic and rules. I don't have a problem with rules. I'm a I'm a rule based principle based thinker. I have protocols, procedures, I have a
880 |613 |01:52:10,110 ~-~-> 01:52:18,480 |routine that I follow. There's a method behind my madness. Even though it may seem like it's scatterbrained. I know exactly what the fuck I'm doing when I'm
881 |614 |01:52:18,480 ~-~-> 01:52:31,050 |doing it in many times, weeks and months before I even do it. Do you have to be that fanatical about it now. So to remove all the bullshit that people say about
882 |615 |01:52:31,050 ~-~-> 01:52:41,370 |me, and what I teach, I have literally gave you a 60 minute interval three times a day where you can look for a setup, the setup requires you to know where
883 |616 |01:52:41,370 ~-~-> 01:52:53,790 |they'll draw and liquidity is. You don't even need the bias on the day that you don't need that. Just look at where we have come prior to that time. Is it more
884 |617 |01:52:53,790 ~-~-> 01:53:03,240 |likely because we've been going up? Who's profitable belongs? Okay? Is there a relative equal lows? Is there a singular low that hasn't been traded to yet.
885 |618 |01:53:03,840 ~-~-> 01:53:11,430 |Because even if the day is going to be higher, there's likely to see it, do what retrace, run some stocks and then accumulate those sell stops and go long. Smart
886 |619 |01:53:11,430 ~-~-> 01:53:23,490 |Money would be long in a run the daily range higher even still. Like you don't need a bias. But to help you understand to be principally oriented, have a rule
887 |620 |01:53:23,490 ~-~-> 01:53:33,450 |based idea. You should be focusing on developing a bias because there's gonna be days where you don't want to trade. You don't want to trade and I teach you that
888 |621 |01:53:33,720 ~-~-> 01:53:40,710 |they're very generic days, they're not hiding from you. And when I talked about on Twitter, this is a day I'm not really excited about or you know, this is this
889 |622 |01:53:40,710 ~-~-> 01:53:51,000 |is something I wouldn't touch. Otherwise it's very static Days. Days right before Non Farm Payroll any FOMC day don't trade ahead of CPI but after CPI you
890 |623 |01:53:51,000 ~-~-> 01:54:04,380 |can trade it I mean it's not rocket science. But many of you don't want to be told don't do this and maybe don't like to be told what to do. You come here you
891 |624 |01:54:04,380 ~-~-> 01:54:11,190 |listen to me talk you talk about trading you teach you give things you got students that are making real fucking money you're showing executions that prove
892 |625 |01:54:11,190 ~-~-> 01:54:25,140 |the concept but you don't want to listen to the logic I share. Cameron i It doesn't make any sense to me. Like why even fucking listen to me at all? Why? If
893 |626 |01:54:25,140 ~-~-> 01:54:39,990 |you're not going to do anything with the information and follow the rules I'm laying down what else are you going to do? I mean, think the details if you
894 |627 |01:54:39,990 ~-~-> 01:54:47,400 |study them, you will see the method works. If you take a losing trade guess what it does? The minimum
895 |628 |01:54:52,860 ~-~-> 01:54:54,210 |I lost 40 bucks
896 |629 |01:54:59,400 ~-~-> 01:55:05,700 |that's That's like fucking two pizzas today. Two pizzas
897 |630 |01:55:12,360 ~-~-> 01:55:24,900 |Yes, you stop losses five handles to make 10 handles. This model is slated in slanted a little bit heavier towards NASDAQ trading.
898 |631 |01:55:30,180 ~-~-> 01:55:42,870 |What distinguishes the time when he would trade, NASDAQ? Or ES? The market structure that's in the chart on a one minute basis. That's it. What does that
899 |632 |01:55:42,870 ~-~-> 01:55:56,580 |mean? If he wants to go long on a fair value gap, say between 10 o'clock and 11 o'clock, his role state that if he sees the NASDAQ as the moment chart forms,
900 |633 |01:55:56,880 ~-~-> 01:56:06,690 |and runs up into if he's seeing higher lows, compared to a series of candles, now, I'm not talking about a institutional price swing, you know what that is,
901 |634 |01:56:06,690 ~-~-> 01:56:17,580 |if you go into my core content, just in the actual candlesticks themselves, if you're seeing candles make lower lows, even though they're going higher in ES,
902 |635 |01:56:17,700 ~-~-> 01:56:28,890 |but not seeing it NASDAQ order flow stronger on the buy side in NASDAQ. So when he trades down into a fear of a gap, he will trade NASDAQ not yes. Very simple
903 |636 |01:56:28,890 ~-~-> 01:56:41,640 |filter, that's not SMT you're looking at the individual order flow on cannibal candlestick basis. Ahead of the decline down into a Faraday got that he would be
904 |637 |01:56:41,640 ~-~-> 01:56:51,720 |going long, the entry will form between 10 and 11 o'clock, the fair value get can exist to the left prior to 10 o'clock in the morning. Same thing applies to
905 |638 |01:56:51,720 ~-~-> 01:57:03,330 |the two o'clock to three o'clock afternoon silver bullet. If the trade idea if the fair value gap cannot yield, if it doesn't have it in the framework to allow
906 |639 |01:57:03,330 ~-~-> 01:57:15,540 |for 40 handles from its entry to draw on liquidity that you think is the next probable draw, where it's gonna go to you don't take the trade. Now, you have no
907 |640 |01:57:15,540 ~-~-> 01:57:27,780 |fucking excuses. You have zero excuses, you have rules, you have limitations placed on you. The money manager aspect is absolutely in fucking iron. Now, you
908 |641 |01:57:27,780 ~-~-> 01:57:37,860 |cannot erase it, it's what it is, you can only trade one micro for every $2,000 in equity. Right now, zero equity, when you start that funded account, you have
909 |642 |01:57:37,890 ~-~-> 01:57:50,880 |a $2,000 account, you can only afford to trade one micro. When you earn $2,000 Then you can do a second micro that means your point multiplier for every handle
910 |643 |01:57:50,880 ~-~-> 01:58:02,400 |move fluctuation up and down, will now be only worth $4. But it's not going to get me money real fast. That's the fucking point. That is the reason why you're
911 |644 |01:58:02,400 ~-~-> 01:58:19,050 |fucking broke and you can't make money. You're trying to do something that you can't do yet. Trade larger. It's not about fucking size. It's about quality. The
912 |645 |01:58:19,050 ~-~-> 01:58:28,560 |quality of trade setup and the quality of execution and the quality of risk management. That's the fucking game here. Okay, that's what everybody that's
913 |646 |01:58:28,560 ~-~-> 01:58:37,590 |making money is doing. They're not telling you the fucking trade with 15 contracts. They're not telling you to trade with five contracts to do it better
914 |647 |01:58:37,590 ~-~-> 01:58:46,500 |for you. It's there so you can blow the fuck out and pay reset fees because it's a lot of fucking students I'm going to be making over this this year it's going
915 |648 |01:58:46,500 ~-~-> 01:58:48,720 |to be coming for fucking payouts and they need that money
916 |649 |01:58:55,350 ~-~-> 01:59:05,340 |and it's every funded account company out there and that's like known for fucking making no money Hey, that's a that's a great model. Huge fucking
917 |650 |01:59:05,790 ~-~-> 01:59:14,640 |potential to be profitable because the statistics state that your fucking 90% And you're getting paid. And then you might have this aberration once in a while
918 |651 |01:59:14,640 ~-~-> 01:59:27,000 |we have to pay out to somebody. Wonderful, and it's under the guise that you're helping. It's even better. But let's be real. Okay, Let's call a spade a spade
919 |652 |01:59:27,000 ~-~-> 01:59:40,470 |this is what it is. You're paying an interest payment of 8% a month on money doesn't exist, whether you trade or not. And capitalizing on the likelihood that
920 |653 |01:59:40,470 ~-~-> 01:59:50,490 |most people most and I mean like 98% don't have any financial literacy whatsoever. They don't have any risk management in appreciation whatsoever. And
921 |654 |01:59:50,490 ~-~-> 02:00:01,260 |he had zero fucking self control. And I'm bipolar. I'm gonna tell you something right now. I'm not in your fucking doing Mickey Mouse money management If you
922 |655 |02:00:01,260 ~-~-> 02:00:11,460 |see me taking six trades, I'm sorry, six contracts for contracts. In a partial entry on a pyramid, I can afford to do those types of trades. You don't see me
923 |656 |02:00:11,460 ~-~-> 02:00:19,740 |out there doing 50 Fucking contracts of gold and 50 contracts when it moves one more tick away from the price and 50 contracts more on a fucking fake as empty
924 |657 |02:00:19,740 ~-~-> 02:00:20,520 |for bullshit
925 |658 |02:00:27,510 ~-~-> 02:00:41,700 |at some point, you're gonna have to listen to somebody that's talking real shit. Real stuff, real world stuff. Can you get rich with this model? Yes, you fucking
926 |659 |02:00:41,700 ~-~-> 02:00:52,410 |can. But you have to start where you're starting. And you can't start thinking that you have a $50,000 account when you don't? You can't start with 100,000
927 |660 |02:00:52,440 ~-~-> 02:01:02,100 |funded account thinking you have 100,000 You're not selling 100,000 You're starting with 3000 you have 100,000 I'm funded baby. I'm funded 150,000 No,
928 |661 |02:01:02,100 ~-~-> 02:01:14,970 |you're fucking not. You have the demo of $4,500. You don't it's like with a demo account. You can trade 25 contracts, your broker would not allow it. But hey,
929 |662 |02:01:16,920 ~-~-> 02:01:31,230 |it's fine, right? Well, these companies promise to be able to pay you up to 90%. If you're right, and you're in that funded account, wonderful. I don't give a
930 |663 |02:01:31,230 ~-~-> 02:01:42,180 |fuck what the parameters are, how many days gonna be profitable. The intention is he's getting one withdrawal. That's it. And it's the one where he closes the
931 |664 |02:01:42,180 ~-~-> 02:01:53,400 |account. And we're done. That's how it's going to roll. Because the intentions are, he wants to do this with his own money, wonderful. When you get it out of
932 |665 |02:01:53,400 ~-~-> 02:01:57,960 |this, you're gonna put it into a real brokerage account, and then the real fucking fun starts.
933 |666 |02:02:03,840 ~-~-> 02:02:12,690 |But he has less than 1000 hours a month in expenses, his ends are literally less than $740 a month. That's not going to stay that way in four years, it won't be
934 |667 |02:02:12,690 ~-~-> 02:02:23,250 |that right when he has his girlfriend coming home from college and whatever life changes, he's implemented to get himself in more of adult minded position to be
935 |668 |02:02:23,250 ~-~-> 02:02:36,900 |with her more formal way. He has to put the work in. And you can't think that less than 1000 hours is practical for an adult living with someone else,
936 |669 |02:02:37,200 ~-~-> 02:02:56,490 |especially someone that's going to be professional in the working community as a veterinarian, assuming that she's successful at it. So maybe you didn't give it
937 |670 |02:02:56,490 ~-~-> 02:03:06,900 |any thought. But what happens if he loses? Say he gets up to the point where he can trade now to micro accounts or micro contract rather. And he's trading with
938 |671 |02:03:06,900 ~-~-> 02:03:21,330 |$4 per point in the NASDAQ. But then he drops below that $4,000 cushion of his initial 2000 in the account but only 2000 and equity that he's made. So let's
939 |672 |02:03:21,330 ~-~-> 02:03:30,360 |put in perspective, it would look like this in your combine are profitable Count 52,000. As long as the 52,000 is showing on the account, he can trade two micro
940 |673 |02:03:30,390 ~-~-> 02:03:41,760 |contracts. If he dips down and closes a trade, whether by stop loss or physically manually closing in, it's below 52,000, he has to trade one micro
941 |674 |02:03:42,660 ~-~-> 02:03:58,410 |until he gets back to 52,000. Then, when it gets to 54,000 He can trade with three micro contracts. If he drops below 54,000 He drops down to two micro
942 |675 |02:03:58,410 ~-~-> 02:04:12,600 |contracts. That's the rules. But he can't I don't give a fuck what he can and can't in your mind. I or you know, as long as he listens, he will can't ain't
943 |676 |02:04:12,600 ~-~-> 02:04:24,390 |even fucking part of this. I've already entered the chat. ICT is in this now. The boys getting where he's got to get either by a Bhutanese as, or it's gonna
944 |677 |02:04:24,390 ~-~-> 02:04:36,660 |be a little bit longer duration, but he's not working the rest of his life. Okay, I'm gonna see to that. He's done it wrong. Wonderful. And he's got fucking
945 |678 |02:04:36,660 ~-~-> 02:04:46,590 |scar tissue. If I'm gonna be a good mentor, I'm a good mentor. You know, I'm a good dad or whatever you want to call it. Yeah, he won't be working. That's how
946 |679 |02:04:46,590 ~-~-> 02:04:57,300 |I'm looking at it. But I need him to have a mind shift. Change where it changes the way he views things. Because in his mind, as long as he's got money to
947 |680 |02:04:57,300 ~-~-> 02:05:06,990 |afford a new reset he's not going to We're at some point, how many you going to do before you're like, This is fucking stupid. We're in my mind it was way past
948 |681 |02:05:06,990 ~-~-> 02:05:21,270 |that. Way, way, way past that. But all of you out there that are trying to trade and you're trying to trade with mini contracts or multiple mini contracts, and
949 |682 |02:05:21,270 ~-~-> 02:05:34,860 |you're thinking, I'm doing this, right, this is so great, but you what you're experiencing is overleveraged luck. That's what that that's what that is. And
950 |683 |02:05:34,860 ~-~-> 02:05:48,810 |that shit ends abruptly. And the harm that you do to yourself psychologically and emotionally when it happens. It's so hard to work through. What I mean by
951 |684 |02:05:48,810 ~-~-> 02:05:59,520 |that? Well, when you're trading, and you're trading with big money, number one, it's stressful, it's shit. extremely stressful. You can't tell me that you're
952 |685 |02:05:59,520 ~-~-> 02:06:08,310 |focusing on price action or your model. While you're in that trade. It's over leverage. You're watching the value of profit and loss tick. That's what you're
953 |686 |02:06:08,310 ~-~-> 02:06:18,270 |really watching. And every time it takes up $1,000, more 1500 hours more 2000 hours more, because you're over leveraged. You're buzzing in every time it takes
954 |687 |02:06:18,270 ~-~-> 02:06:30,720 |against you $1,000 When it's such an insignificant fluctuation in actual price movement, you're trying to talk yourself out of closing the trade. And that's
955 |688 |02:06:30,720 ~-~-> 02:06:40,170 |not following your model. If you weren't over leveraged, you wouldn't even be feeling that impulsiveness to want to close the trade or fear. Oh, but a closer
956 |689 |02:06:40,170 ~-~-> 02:06:47,100 |now. Oh, you know, if I don't close this trade, and you're, you know, it's going to turn back on me. We're all if I close a trade, I know it's going to keep
957 |690 |02:06:47,100 ~-~-> 02:06:56,160 |running. That's the testimony of someone who is absolutely fucking gambling and over leveraging. They're literally telling on themselves, if that outside
958 |691 |02:06:56,340 ~-~-> 02:07:05,910 |language and dialogue is occurring, and you hear them, okay, if you hear them saying you watch them, some of them on YouTube doing it. When they do that. They
959 |692 |02:07:05,910 ~-~-> 02:07:15,180 |are literally removing all fucking doubt that they're gambling, they have no fucking control of themselves, and they're over leveraged to the fucking gills.
960 |693 |02:07:16,230 ~-~-> 02:07:29,760 |That is not a fucking sound trader. That is a gambler. That's the equivalent of the person that goes maybe once or twice a year flies out on cops to Las Vegas
961 |694 |02:07:30,960 ~-~-> 02:07:40,740 |and loses more money, but swears up and down they had a great fucking time. Thank you for not losing using any lube on me. I'll be back next year. Make sure
962 |695 |02:07:40,740 ~-~-> 02:07:49,440 |you give me another free rental room. I'm gonna come here with more money next year. Great time in Las Vegas. They say everything in Las Vegas stays in Las
963 |696 |02:07:49,440 ~-~-> 02:07:56,100 |Vegas, that mindset needs to fucking stay there. And don't go back out there. Do something that where they had the odds in your favor because that's shooting it.
964 |697 |02:07:56,820 ~-~-> 02:08:07,200 |In trading. Some of you are treating your trading just like Las Vegas. Well, you know, all I gotta do is reset. Now, eventually I'm gonna get that 15 contracts
965 |698 |02:08:07,200 ~-~-> 02:08:14,640 |and hold for 100 point move, it's gonna happen. The fuck it's gonna happen. It's not gonna happen, because everything you're doing is going to ensure that it
966 |699 |02:08:14,640 ~-~-> 02:08:24,900 |doesn't. You're increasing the amount of adrenaline and cortisol pulsating through your body, while you're watching something with the hopes that you don't
967 |700 |02:08:24,900 ~-~-> 02:08:33,390 |fail, when if you will to train it with the proper leverage. It doesn't fucking matter if it turns on you. Your state your trading, the statistical
968 |701 |02:08:33,390 ~-~-> 02:08:43,680 |probabilities of that setup, forming and falling suit to the rules in the models expectations. That's what you're doing as a trader. The money is the least
969 |702 |02:08:43,680 ~-~-> 02:08:51,180 |important fucking thing. The only time money is important is when it's time to pay your quarterly fucking taxes. Or when you settle with Uncle Sam at the end
970 |703 |02:08:51,180 ~-~-> 02:08:58,380 |of the fucking year, and you better be on fucking time with it. Then after that, once that part's done, then you can glory and gloat about what you fucking made.
971 |704 |02:08:58,380 ~-~-> 02:09:11,520 |Because until that man's fucking paid, you ain't made shit. You ain't done nothing. You've done nothing. One week, one day, one month ain't shit. It's
972 |705 |02:09:11,520 ~-~-> 02:09:22,740 |nothing. That's nothing. And the only way that you're going to forge the mindset that takes you out of the working class hero bullshit. The fuck everybody.
973 |706 |02:09:22,890 ~-~-> 02:09:31,080 |Everybody that's working is on the plantation. You're all fucking slaves. And I used to be a slave to. And the only way you get the fuck off that plantation is
974 |707 |02:09:31,080 ~-~-> 02:09:39,030 |to run your own show your own business. And this is one avenue, it doesn't mean it's going to work for everybody. But this is one Bastion that still exists
975 |708 |02:09:39,030 ~-~-> 02:09:49,860 |where you can get yourself up out of that. But you need to stop thinking I'm going to be rich overnight. I'm going to build up $2 million or four fucking
976 |709 |02:09:49,860 ~-~-> 02:10:01,410 |million dollars in funded account challenges, and I'm going to be funded and I'm going to do this and do that. Listen, I have students that do that. Okay, Even
977 |710 |02:10:01,410 ~-~-> 02:10:11,730 |they, if they use what I'm talking about today, their trading will be a lot less impulsive, there'll be more consistently profitable, they won't have the tug of
978 |711 |02:10:11,730 ~-~-> 02:10:20,280 |wars that's occurring inside of them. They gotta live up to expectations because they made everything they're doing public. So I'm so sad, he's $4 million
979 |712 |02:10:20,550 ~-~-> 02:10:30,360 |funded, you shouldn't be 8 million now. Don't do those things. You're literally making it harder than it needs to be trading already for a new startup. For a
980 |713 |02:10:30,360 ~-~-> 02:10:45,300 |person, it's beginning. This is one of the hardest things that exists. Like, it's very fucking hard. It's hard. But it's beautiful. And you have to do
981 |714 |02:10:45,330 ~-~-> 02:10:54,630 |everything opposite to what you think this industry tells you. You should do. Try to get money real fast, trying to get rich real quick, try to overleveraged
982 |715 |02:10:54,660 ~-~-> 02:11:02,730 |you only make money with big positions. You can't get rich trading small boss shit. These are fucking people that are working two fucking jobs open, you're
983 |716 |02:11:02,730 ~-~-> 02:11:14,130 |gonna buy their bullshit online. So they don't have to fucking work their second part time job, because they show us fucking making in the fucking market. Where
984 |717 |02:11:14,130 ~-~-> 02:11:16,050 |are the fucking results?
985 |718 |02:11:17,460 ~-~-> 02:11:27,750 |Just getting a funded certificate is nothing. You can't fucking buy groceries with that. You can't fill your gas tank with it. You can't make your ends meet
986 |719 |02:11:27,750 ~-~-> 02:11:37,140 |with that. You have to have visibility past that. And so many of you young folks are only seeing just that and you think something magical is gonna happen when
987 |720 |02:11:37,140 ~-~-> 02:11:44,850 |you get to that funded account. You know it is it's gonna be fucking funny. Something magically happens. Your give a fuck is gonna go through the fucking
988 |721 |02:11:44,850 ~-~-> 02:11:51,780 |roof because now you're gonna be scared shitless about every trade you take. Because the combine is oh, this reset it reset, reset. Now No, no, no, no, no,
989 |722 |02:11:51,780 ~-~-> 02:12:02,430 |no, no, no, no. Because now at the funding level, it's not just reset that bit. It's gotta reset, get the Combine done and then go back into that funded account
990 |723 |02:12:02,430 ~-~-> 02:12:12,000 |position all over again. And chances are if you learning anything from all that is next to nothing. Because you haven't controlled yourself, you have not
991 |724 |02:12:12,000 ~-~-> 02:12:23,040 |presented a rule based routine, a protocol that you have to follow. And the number one thing that you have to do is remove the interest in making a lot of
992 |725 |02:12:23,040 ~-~-> 02:12:32,400 |money fast. Everybody fucking blows at doing that. That's the Surefire fucking guaranteed approach that you're going to blow your shit. Blow your account, fail
993 |726 |02:12:32,400 ~-~-> 02:12:42,240 |as a fucking trader when you're trying to push too fucking hard too fast. You're Tom telling me you're telling me. Some guy walks up to you every fucking week
994 |727 |02:12:42,240 ~-~-> 02:12:49,050 |gives you 80 bucks three times a fucking week. You're gonna get a guy in middle fingers. Hey, fuck you, man. Don't you ever come up to me again and give me a
995 |728 |02:12:49,080 ~-~-> 02:13:03,300 |fucking eight hours? I just gave that to you here. I just told you exactly how to beat the shit out of these funded account every company out there. But it's
996 |729 |02:13:03,300 ~-~-> 02:13:11,430 |gonna take I gotta pay monthly pay. You're paying fucking bills, folks. Okay, you're gonna add that I'm fucking rich. I'm fucking loaded up the fucking answer
997 |730 |02:13:11,430 ~-~-> 02:13:19,200 |with money. And guess what? I still have every month, people holding their hands up. Yeah, you owe me $1,600 For this, you owe me $5,000 For that you're gonna be
998 |731 |02:13:19,200 ~-~-> 02:13:31,110 |fucking 6000 hours for that. I got bills, I got bigger fucking bills than all of you. But I still have them live in like this costs. More money, more problems.
999 |732 |02:13:31,470 ~-~-> 02:13:43,740 |But bills are gonna be paid. They have to get paid. That's what when you trade with a real brokerage account, guess what you're paying, you're paying fees and
1000 |733 |02:13:43,740 ~-~-> 02:13:50,970 |you're paying commissions. What do you think's gonna happen when you start trading with a real account and you want to trade successfully, and you're
1001 |734 |02:13:50,970 ~-~-> 02:14:01,860 |trading five 600 contracts a month? Your commission bill is going to be fucking ridiculous. If you simply focus on that, oh, I can't do this. This is this is
1002 |735 |02:14:01,890 ~-~-> 02:14:12,930 |cutting into my on my p&l? Of course it is. But if you learn how to fucking trade, it won't matter. You'll outpace all that stuff. That's the whole point of
1003 |736 |02:14:12,930 ~-~-> 02:14:26,520 |me teaching you. I teach and have taught how to outpace inflation. I've teach and I have taught students how to make money and you have seen them. You have
1004 |737 |02:14:26,520 ~-~-> 02:14:40,890 |seen them come forward with their evidence. They're proof you are next. Stop worrying about the next student that is going to be interviewed by me. You are
1005 |738 |02:14:40,890 ~-~-> 02:14:51,540 |the one you're the lucky next one. You're it. But you want to turn this into a fucking spectacle where I want to entertain myself and watch vicariously from
1006 |739 |02:14:51,540 ~-~-> 02:14:59,610 |afar. I want to see what everybody else is doing because I'm too chickenshit to get out there and do what's required to do it myself. And the whole time you're
1007 |740 |02:14:59,610 ~-~-> 02:15:08,100 |working with Fucking Carl, come Monday you're doing the same fucking shit. Making the same Mickey Mouse fucking wages and never changing shit because
1008 |741 |02:15:08,100 ~-~-> 02:15:17,250 |you're too fucking stubborn. You're too fucking stubborn. You don't want to listen, you don't want to listen. And what did he show for yourself? I live in
1009 |742 |02:15:17,250 ~-~-> 02:15:28,410 |that square one baby, you're still there. It's time to pull up the tent stakes, pack the fucking tent, move on down the road and pitch a tent further closer
1010 |743 |02:15:28,410 ~-~-> 02:15:41,490 |towards your fucking goals. That coffee shop fucking job. That is a fucking embarrassment. You should look at that and say, You know what? I'm 18. Now
1011 |744 |02:15:42,810 ~-~-> 02:15:50,520 |making a change. I'm going to do this. I'm not going to do that. That said do this. And that said don't do that. I'm gonna stay in those lines. I want to be
1012 |745 |02:15:50,520 ~-~-> 02:15:58,170 |able to say Dad, it worked. Or if it didn't work, Dad, you didn't do it. Right. And I failed because you told me to do this. That's exactly what I gave him. I
1013 |746 |02:15:58,170 ~-~-> 02:16:12,390 |gave him that fucking power. He personally doesn't fail. I do. So where's the fucking complication here? No. It's all me. I'm 50 years old about these GET THE
1014 |747 |02:16:12,390 ~-~-> 02:16:24,930 |ONE TWO WEEKS spinal compression injuries, that my back is strong enough. I can carry all of you. Okay, I can carry all of you. But you have to listen. You have
1015 |748 |02:16:24,930 ~-~-> 02:16:36,090 |to fucking listen, if you don't listen, if you don't have these role based ideas, controlling expectations, how fast you make money can ruin you. meteoric
1016 |749 |02:16:36,090 ~-~-> 02:16:49,350 |rises in equity increases absolutely can fucking crush you. What the hell did you just say yep. When people get into large sums of money, okay, and I'm gonna
1017 |750 |02:16:49,350 ~-~-> 02:17:03,330 |give you an experience. When I was younger guy. I came from a very, very, very low income family. And I'm talking fucking low income. But I didn't feel like I
1018 |751 |02:17:03,330 ~-~-> 02:17:12,060 |was from a low income family. Because we didn't measure things on the basis of money. We were a family, dysfunctional, you know, a lot of drunks and alcoholics
1019 |752 |02:17:12,060 ~-~-> 02:17:20,100 |in my family, which was reasonable, I don't drink and I'm gonna do those types of things because I watched what it did to their lives. And I was taking note.
1020 |753 |02:17:21,330 ~-~-> 02:17:31,890 |Like I said, I was a journaler. Okay, and I wrote all this shit down as a kid, it made a great impact on me. So I saw what unsuccessful living looks like. And
1021 |754 |02:17:31,890 ~-~-> 02:17:40,050 |I wasn't going to do those things. I didn't need anybody to say, hey, you know, your family's full of fucking failures. And if you do what they're doing, you
1022 |755 |02:17:40,050 ~-~-> 02:17:48,360 |shouldn't expect to see much better. I didn't mean that. I was fucking aware. I wasn't in the breed and I wasn't medicated where I didn't notice the obvious.
1023 |756 |02:17:49,260 ~-~-> 02:18:03,690 |But everybody else in my family got caught up in that shit. So I don't have a problem. With someone telling me do this don't do that. If they're doing better
1024 |757 |02:18:03,690 ~-~-> 02:18:16,710 |than me. I don't have a problem with that. I actually coveted that. As a young man, I was looking for a mentor. I was looking for someone outside of books, and
1025 |758 |02:18:16,710 ~-~-> 02:18:30,570 |VHS tapes and DVDs and whatever else I can get my hands on at the time and 99.99999 Fucking percent of all of it was absolute fucking bullshit. It never
1026 |759 |02:18:30,570 ~-~-> 02:18:43,020 |fucking made me money, not one bit of that horseshit made any bit of money for me when I took everything that they said inverted it and looked for specific
1027 |760 |02:18:43,020 ~-~-> 02:18:58,380 |times of the day where they would capitalize on that bullshit outcomes inner circle trader you're I am but I'm from a modest upbringing. I wasn't born with a
1028 |761 |02:18:58,380 ~-~-> 02:19:15,180 |silver spoon on my ass. But I appreciate risk. I I am aware of what can be lost in a trade more so than I'm trying to make and when you look at viewer ships
1029 |762 |02:19:15,480 ~-~-> 02:19:25,620 |have a specific person or a company or some kind of entity that is a trading expert or whatever it is. Everybody has a my hive mentality they have a team
1030 |763 |02:19:25,620 ~-~-> 02:19:36,630 |mentality. Okay, so I our community gets a lot of flack because number one I like in these presentations are unorthodox and animated sometimes and dramatic
1031 |764 |02:19:36,630 ~-~-> 02:19:42,720 |and other times and just basically unstable. I don't give a fuck what anybody's opinion of me is because I'll beat the shit out of the fucking market. I'll
1032 |765 |02:19:42,720 ~-~-> 02:19:49,320 |trade outside their fucking ass and literally run circles around them. That's why nobody's fucking doing shit and we're still here. We're closing the year and
1033 |766 |02:19:49,320 ~-~-> 02:19:56,640 |nobody actually fucking did it. Fuck you Vinnie. Your bullshit wasn't really there and I'm still waiting. Let's go baby because I can still kick your fucking
1034 |767 |02:19:56,640 ~-~-> 02:20:07,200 |ass by the end of this fucking year. Let's bring it up. back to early childhood program, you have to have these robust ideas. You have to have them, because if
1035 |768 |02:20:07,200 ~-~-> 02:20:18,270 |you have them, it removes all doubts about what it is you should be focusing on how much money should be risking. What happens if I have a loss? Nothing, you
1036 |769 |02:20:18,270 ~-~-> 02:20:31,500 |just take a loss, it was a tax. That's all it is. When you're trading with a micro, and you let that profit grow over time, you're allowing yourself, okay,
1037 |770 |02:20:31,530 ~-~-> 02:20:44,610 |you're allowing yourself to grow into new money. When I was younger, I didn't know what it was like to have money. I literally had no idea what it was like to
1038 |771 |02:20:44,610 ~-~-> 02:20:56,220 |have anything that would be considered good money. I worked menial shitty ass fucking jobs, the minimum wage threshold, that's where it was. Okay, and then,
1039 |772 |02:20:56,280 ~-~-> 02:21:06,660 |you know, I started my studies for computer science. And even then, I was doing a menial fucking job, I worked at a bookstore that the school
1040 |773 |02:21:07,950 ~-~-> 02:21:15,150 |students would come in, they would purchase their books, or they would come in and redeem them for a credit to go towards something else. I worked in that
1041 |774 |02:21:15,270 ~-~-> 02:21:23,940 |setting it gets was I was fucking doing at the time. Most of you would have been sitting on your fucking ass playing on your smartphones or whatever, but didn't
1042 |775 |02:21:23,940 ~-~-> 02:21:29,340 |have a smartphone back then. But if it was given the opportunity today, that's what you would have been doing? Are you listening to your headphones, like the
1043 |776 |02:21:29,340 ~-~-> 02:21:35,700 |guy that would relieve me, and when I would end my shift, he would come on and he bring his little fucking Walkman and, and be listened to his bullshit,
1044 |777 |02:21:35,700 ~-~-> 02:21:46,650 |whatever. He's a student just like I am. Know what I was fucking doing. I was in there reading the fucking books, taking notes in the fucking books. I didn't
1045 |778 |02:21:46,650 ~-~-> 02:21:58,470 |need to buy the fucking books, I'd read them already. I wrote down all the fucking notes that I needed to do. And boom. My GPA was fucking awesome. Because
1046 |779 |02:21:58,470 ~-~-> 02:22:12,750 |I took every advantage of the the immediate availability to what was available for resources. What was available to me in terms of time for studying, I didn't
1047 |780 |02:22:12,750 ~-~-> 02:22:24,000 |fuck around. And when I was younger, I was all in this. And the fruits of it is what you see today. Like I can literally go out there and do whatever the fuck
1048 |781 |02:22:24,000 ~-~-> 02:22:32,490 |I'm dealing right now in any timeframe. And it still will look like I'm doing it like I've always done because it's the same fucking thing. No matter what
1049 |782 |02:22:32,490 ~-~-> 02:22:42,000 |timeframe, whatever fucking market just don't ask me to do it in crypto because I won't do it. Or synthetic. Obviously called synthetic indices. Somebody else a
1050 |783 |02:22:42,000 ~-~-> 02:22:49,050 |lot of Africans asked me about the I don't know what the fuck that is. But I don't do anything with it. But crypto and that aside, doesn't matter what market
1051 |784 |02:22:49,050 ~-~-> 02:22:59,280 |it is. Everything I'm teaching it works there. Period, there's only certain aspects between forex and futures, that has a small and I'm talking very, very
1052 |785 |02:22:59,280 ~-~-> 02:23:09,870 |small marginal effect of time. And those being the very specific times of the day, that certain setups will form. And I've already taught it, it's already in
1053 |786 |02:23:09,870 ~-~-> 02:23:25,020 |the YouTube videos. It's there. Okay. So that's what he's going to be doing. It's very specific, it's time oriented. It's running for liquidity. Where's the
1054 |787 |02:23:25,020 ~-~-> 02:23:33,720 |next role liquidity, he's going to capitalize on that. He said he starts his analysis on a weekly chart, where's the weekly candlestick likely to reach for
1055 |788 |02:23:33,810 ~-~-> 02:23:40,110 |all everything I've already taught you. I'm not hiding any of that. And then he's looking at the economic calendar, when there's gonna be a high impact news
1056 |789 |02:23:40,110 ~-~-> 02:23:51,360 |driver. He's expecting some manipulation based on it and still reach for the draw. So he's using the economic calendar in that regard. But he's not taking
1057 |790 |02:23:51,360 ~-~-> 02:24:00,000 |any trades outside of 10 o'clock in the morning and 11 But what if it's a webinar? Was he taking the fucking trade? What if this what if the trading into
1058 |791 |02:24:00,000 ~-~-> 02:24:17,790 |the fair value gap at 959 He's not taking the fucking trade he's at an answer to me. He's got to answer to me now. So he has rules he can't take a trade outside
1059 |792 |02:24:17,790 ~-~-> 02:24:28,470 |of two o'clock and three o'clock that's it. If he makes money in the morning, he cannot he's not allowed he's not permitted to trade in the afternoon. That's the
1060 |793 |02:24:28,470 ~-~-> 02:24:36,630 |payment setup in the morning he can look for one in the afternoon if you lose his there okay. He's not taking on the trade. What happens is I fare back and
1061 |794 |02:24:36,630 ~-~-> 02:24:47,730 |forth between three o'clock in time and two o'clock you know, the silver bullet window. He can't take the fucking train. He has a loss he eats it. But but but
1062 |795 |02:24:47,730 ~-~-> 02:24:56,340 |shit. You if you want to be a failure, you do make your own fucking bullshit. Stop coming to me Safaricom and other people. If you know everything. Don't
1063 |796 |02:24:56,340 ~-~-> 02:25:05,190 |listen to people that are teaching. There's so many fucking nodes and comment sections. Oh, but you should just start a fucking YouTube channel. Trade do
1064 |797 |02:25:05,190 ~-~-> 02:25:12,930 |executions prove that you are somebody who listened to fuck your opinion, I don't give a shit. That's another reason why I can't wait to get out of here in
1065 |798 |02:25:12,930 ~-~-> 02:25:30,720 |fucking November, so many fucking idiots, man. But anyway, I covered a lot of stuff that many of you probably heard before, but I gave me a very specific
1066 |799 |02:25:30,930 ~-~-> 02:25:41,160 |element of controlling risk. And yes, it does slow down your, your expectations of making the big money, because like I mentioned and it ain't gonna make sense
1067 |800 |02:25:41,160 ~-~-> 02:25:49,350 |to you and to you do it when you have your first profitable trade or a series of profitable trades and you have your first profitable month. Okay, when you close
1068 |801 |02:25:49,350 ~-~-> 02:25:59,850 |the month out, and it's profitable. And you start doing the math on that you can't do that every month, this year and every year going forward, assuming
1069 |802 |02:25:59,850 ~-~-> 02:26:07,050 |you're going to have that same rate of success. And you can't have that. Don't expect that in your mindset having, you're going to do this every month, don't
1070 |803 |02:26:07,050 ~-~-> 02:26:16,020 |do that. Okay, I believe in setting goals, I believe in doing all those types of things. But I tell you, as a new trader don't expect those types of things in
1071 |804 |02:26:16,020 ~-~-> 02:26:26,130 |the beginning. That's a couple years into your trading a couple years. Do I think after a year, the 18 months that someone can consistently do six months,
1072 |805 |02:26:26,160 ~-~-> 02:26:45,060 |6% per month? Absolutely. Absolutely. For the folks that have never done any advanced math beyond rudimentary math, or apply it to risk management, it
1073 |806 |02:26:45,060 ~-~-> 02:26:53,490 |doesn't matter how much you have at the start, if you understand how to use compound interest, compound interest in the hands of someone that's capable, all
1074 |807 |02:26:53,490 ~-~-> 02:27:04,110 |you have to do is find something that repeats, that's measurable as a statistical probability of repeating More times than not in the future. And you
1075 |808 |02:27:04,110 ~-~-> 02:27:13,500 |have a fixed position in terms of how much money you can lose. Now, I'm saying that with quotations in the air with my fingers, okay, because for purposes of
1076 |809 |02:27:13,500 ~-~-> 02:27:20,790 |CFTC regulations and required risk disclaimers that I can't show you here. Past performance is not indicative of future results, and you can lose more than you
1077 |810 |02:27:20,790 ~-~-> 02:27:34,410 |have in your account. Putting that aside, because that's reality, you're opening yourself up to risk by having that specific number of handles of stop loss. In
1078 |811 |02:27:34,410 ~-~-> 02:27:43,950 |my son's case, I told him, his model needs to be 20 handles that allows for a lot of wiggle room. On a one minute chart, it gives you a lot of wiggle room.
1079 |812 |02:27:44,010 ~-~-> 02:27:51,000 |Because if your setups really there, it's not going to fuck around and go against you when the fair value gets traded into, it's not going to rip through
1080 |813 |02:27:51,000 ~-~-> 02:28:01,080 |that pitch 20 handles and still go the other direction. That's not happening. Okay, that's not happening. And you only have one chance. So don't take my word
1081 |814 |02:28:01,080 ~-~-> 02:28:09,990 |for it, go through the study of a 10 o'clock to 11 o'clock time interval. And see how many times the fair value gap trades down to it and rips through it. 20
1082 |815 |02:28:09,990 ~-~-> 02:28:17,670 |handles and then comes back up and still goes inside of that hour. Remember, your execution has to be within 10 o'clock in the morning. 11 o'clock.
1083 |816 |02:28:18,420 ~-~-> 02:28:24,240 |Somebody's going to come in here. Oh, look at this here. It went back down to it at 1115. So your bullshit wrong. You didn't fucking listen, you can't follow
1084 |817 |02:28:24,240 ~-~-> 02:28:37,830 |rules. This is a reason why you're failing. Some of you don't need a dad, you need to have your ask. You need to be grabbed by the fucking lapels and shook
1085 |818 |02:28:38,220 ~-~-> 02:28:47,460 |and say, listen, listen to me. You are not paying attention. You're not listening to the videos, you're asking me fucking questions or pointing out
1086 |819 |02:28:47,460 ~-~-> 02:29:04,740 |things that I said in the first 10 fucking minutes? How on earth? How on earth? Do you expect to beat these fucking institutions that run this shit. If you
1087 |820 |02:29:04,740 ~-~-> 02:29:17,340 |can't even pay attention to a fucking lecture you have to block out all the bullshit, you got to get focused dialed the fuck in. It's not going to happen
1088 |821 |02:29:17,340 ~-~-> 02:29:29,160 |overnight. And it can be easy for a lot of you. But once you get this understanding the works over you just have to implement it. But you got to have
1089 |822 |02:29:29,160 ~-~-> 02:29:36,150 |rules. You have to have rules you have to stick to that rules of engagement. If you don't stick to it, you're going to fucking lose money and you're going to
1090 |823 |02:29:36,150 ~-~-> 02:29:43,800 |lose money to the degree where you end up losing your account and guess what happens then you have a hard decision. Do you start all over again? Or do you
1091 |824 |02:29:43,800 ~-~-> 02:30:00,000 |pack it in say it ain't for me. If you have done the work of trying to trade, okay. If you tried to study how to trade and you tried to trade with money
1092 |825 |02:30:00,000 ~-~-> 02:30:13,200 |before you're ready, and because you failed by trying to trade with real money, and you do not have minimum six months of consistency with a rule based idea,
1093 |826 |02:30:13,320 ~-~-> 02:30:21,420 |using what I've taught or anybody else's bullshit. And you're saying, because you'd lost money on a real account, you're done. You're quitting. You're, you're
1094 |827 |02:30:21,420 ~-~-> 02:30:28,980 |not a fucking traitor. You're doing the best thing for yourself. You're absolutely making the best decision for yourself. But if you have six months of
1095 |828 |02:30:29,370 ~-~-> 02:30:39,030 |real data, where you follow the rule based idea, you were managing risk, you're not dinner fucking plane cowboy, you maximum leverage and trying to see what
1096 |829 |02:30:39,030 ~-~-> 02:30:47,640 |happens. Because when you do that maximum leverage shit. Number one, you can't do that consistently with live funds and expect to survive it. You can't. Nobody
1097 |830 |02:30:47,640 ~-~-> 02:30:49,860 |can fucking do that. As a new trader, you can't do it.
1098 |831 |02:30:50,670 ~-~-> 02:30:58,020 |You're not going to be the person that does it. Okay. Trust me, I'm telling I'm telling you that with love and sincerity. I'm not trying to tell you you're
1099 |832 |02:30:58,020 ~-~-> 02:31:07,350 |fucking stupid or a moron. I'm saying that you literally are not equipped to do that. Because if you've never made money with maximum leverage, and you've never
1100 |833 |02:31:07,350 ~-~-> 02:31:16,740 |seen that kind of profit come into your hands. It literally causes you to go fucking stupid like crazy. Like you think you see everything in a chart now. And
1101 |834 |02:31:16,740 ~-~-> 02:31:23,970 |you're impulsiveness. And because you're hopped up, you that might say you're hopped up on goofballs. It's just a funny expression for me to explain to you
1102 |835 |02:31:23,970 ~-~-> 02:31:35,280 |that you've lost all sense of rational thinking. You have that the feeling if you've met, Well, imagine you won the lottery. And it was the 750 million or $1
1103 |836 |02:31:35,280 ~-~-> 02:31:44,460 |billion bullshit that they say that exists. And you want to describe what that might feel you can't even come close to because you're never gonna be there. But
1104 |837 |02:31:44,460 ~-~-> 02:31:54,570 |the person that would be there, they're there, they're euphoric. They're out of their fucking mind. And that feeling because you've never been there before,
1105 |838 |02:31:54,690 ~-~-> 02:32:02,670 |will make you think that you are better than you really are. And you're gonna go on there and do the same thing. Again, when they're in a setup. Somebody with a
1106 |839 |02:32:02,670 ~-~-> 02:32:14,430 |rule based idea, a rule based protocol to trading and assuming risk and managing that risk appropriately. will say, I've done my executions I've entered, entered
1107 |840 |02:32:14,460 ~-~-> 02:32:25,830 |and ended the trade. I'm done my role. Say I can only do one setup. I don't give a fuck how much it runs. There's gonna be all people out there. ICT saying you
1108 |841 |02:32:25,830 ~-~-> 02:32:33,930 |shouldn't do this as soon. Listen for the fucking people that say that shit. Come forward with your fucking results. Okay, come forward with your fucking
1109 |842 |02:32:33,930 ~-~-> 02:32:40,680 |results because nobody's got time for your Mickey Mouse fucking opinions. I assure stalking don't have the time for it. I got till November. I'm looking at
1110 |843 |02:32:40,680 ~-~-> 02:32:48,690 |my book and watch here. We got much fucking time. Bring your shit. Bring your fucking shit or remain silent because I'm done. I'm fucking done. I stayed a
1111 |844 |02:32:48,690 ~-~-> 02:33:00,600 |year longer on his fucking application on Twitter longer than I wanted to be. Bullshit. It's fucking bull shit. You want to learn how to make money? Fine.
1112 |845 |02:33:01,170 ~-~-> 02:33:11,310 |Show up, roll your sleeves up, take notes and listen, do everything I say to do and don't do the things I say not to do expect it to take a minimum of a year
1113 |846 |02:33:11,400 ~-~-> 02:33:20,190 |minimum. Because there's things that you have to practice. There's things that you have to look forward to and see if they pan out if they don't pan out. What
1114 |847 |02:33:20,190 ~-~-> 02:33:26,580 |does that make you feel like as a trader? What does it give you in terms of impulsiveness. Does it make you feel you got to do something to fix that
1115 |848 |02:33:26,580 ~-~-> 02:33:34,080 |problem? Do you feel uncomfortable about being wrong? Those are things that people don't realize until they go through it but they put blinders on it's a
1116 |849 |02:33:34,110 ~-~-> 02:33:40,740 |bucket that doesn't really exist. I need to go into the next trade and over leverage. I need to refund my fucking shit. I gotta reset my stuff. I gotta go
1117 |850 |02:33:40,740 ~-~-> 02:33:46,650 |ahead and make the world believe I'm a good fucking trader. I got to show my stuff on the internet. I got to do a my effects book because nobody believes it.
1118 |851 |02:33:46,680 ~-~-> 02:33:54,930 |I'm making profits now but it gives us fuck if you're making profits. Nobody gives a fuck. Nobody cares. Nobody gives a fuck that I'm making money. Nobody
1119 |852 |02:33:54,930 ~-~-> 02:34:03,840 |gives a shit. Why are you worried about fucking shit? That doesn't make any more fucking money for you. But you're increasing your fucking concern about shit
1120 |853 |02:34:03,840 ~-~-> 02:34:12,150 |that's going to have more negative impact, then it's going to help you positively. I don't understand how many fucking people can have their head so
1121 |854 |02:34:12,150 ~-~-> 02:34:21,810 |far up their own ass that they can't see that that's counterproductive. You'll do all that extracurricular bullshit that's going to hold you back and distract
1122 |855 |02:34:21,810 ~-~-> 02:34:30,090 |you from actually doing the work than simply doing 25% of the effort you're doing to do everything opposed to following instructions. And then finding
1123 |856 |02:34:30,090 ~-~-> 02:34:41,550 |success that you say doesn't fucking exist. It's asinine. I don't understand. I don't understand why so many fucking people drag their feet. It's for free. It's
1124 |857 |02:34:41,550 ~-~-> 02:34:55,260 |fucking proven it fucking works. It's proof Come on. Seriously, why the fuck are you waiting around? Do you then Aaron start don't tinker with the fucking rules.
1125 |858 |02:34:55,320 ~-~-> 02:35:07,590 |Don't bring your bullshit gang is not part of this fucking discussion. Unless I talked about it, unless it's part of the fucking issue in the model that's being
1126 |859 |02:35:07,590 ~-~-> 02:35:15,360 |exposed. And as far as this is the time you're gonna trade. This is the time where if you don't have a trade, it's this time of the day. You cannot take a
1127 |860 |02:35:15,360 ~-~-> 02:35:26,640 |trade. I don't give a fuck if anything happens after that you can't trade period. That right there cancels about 75% of you. Well, I can't do it, because,
1128 |861 |02:35:26,670 ~-~-> 02:35:35,460 |okay. I'm not going to stop fucking being me. I'm not going to stop living my life. I'm not going to stop being who I am. Because a certain percentage of my
1129 |862 |02:35:35,790 ~-~-> 02:35:46,950 |viewership can't do something. You said you can't? I didn't say you can't. You fucking said you can't? Because you said you can't I fucking believe you. I
1130 |863 |02:35:46,950 ~-~-> 02:35:54,720 |absolutely believe that you can't do it. I believe you. You don't have to argue with me. You don't have to convince me. It's it's a settled matter. You said you
1131 |864 |02:35:54,720 ~-~-> 02:36:06,000 |can't therefore you can't. When you change your mind and say I can I believe you. You don't need to convince me I absolutely have proof that you can. Before
1132 |865 |02:36:06,000 ~-~-> 02:36:17,460 |you get your fruit, I already know you can. But I'm in a position where I don't need to be swayed. I don't need that. I don't need to prove shit that nobody
1133 |866 |02:36:17,460 ~-~-> 02:36:25,290 |else the proofs already out there. And I'm inviting all of you to simply investigate it on your own. And that way, you'll find it for yourself. And when
1134 |867 |02:36:25,290 ~-~-> 02:36:40,770 |you get it, even if it's the $80 When $80 A couple times a week, you know what that does? That pays for your fucking groceries? Yeah, it pays for a car
1135 |868 |02:36:40,770 ~-~-> 02:36:53,640 |payment, maybe a cellphone bill in addition to that. And then what happens over time? Wow, you know, I'm really learning how to do this, I can now apply more
1136 |869 |02:36:53,640 ~-~-> 02:37:06,210 |effort and more equity. And you compound, that same cookie cutter approach that you've been doing with a micro account, micro contract. Now you're trading
1137 |870 |02:37:06,390 ~-~-> 02:37:20,220 |minis. And eventually, dozens of them. And guess what happens? Then? Your frequency of trading? Drops? What did you say? Wait a minute. I'm already got my
1138 |871 |02:37:20,220 ~-~-> 02:37:27,120 |calculator here. And I'm doing 50 contracts of NASDAQ at this isn't I'm trying to do it Monday through Friday. Here's my phone this came in. I said, trade
1139 |872 |02:37:27,120 ~-~-> 02:37:39,960 |less, trade less. And what is this guy on? I'm on the reality tip. Because when you start making five figures a week, why the fuck are you going to push it?
1140 |873 |02:37:40,650 ~-~-> 02:37:56,610 |Live your life? Live it. Some of you, not all of you, some of you would find the very existence that's going to be absolutely phenomenal for you. And you don't
1141 |874 |02:37:56,610 ~-~-> 02:38:05,550 |have to make a million dollars a year. Many of you think that you have to be a millionaire every year over and over and over again. Or you're not successful.
1142 |875 |02:38:05,670 ~-~-> 02:38:16,740 |That's bullshit. Because the person that finds their income, and then a surplus income behind that outside of their job, and they no longer need their job and
1143 |876 |02:38:16,740 ~-~-> 02:38:25,650 |they fire their boss. I'm gonna tell you, that's a person that's walking on fucking clouds right now. They're absolutely comfortable inside their own skin.
1144 |877 |02:38:26,790 ~-~-> 02:38:35,370 |And they're not the ones out here trying to prove it to anybody because they don't give a fuck. They have got a lifestyle now that they are not plugging into
1145 |878 |02:38:35,370 ~-~-> 02:38:43,980 |social media which is 90% of horseshit and fucking negativity. They're not giving a fuck if somebody that doesn't. You think they care? Who doesn't believe
1146 |879 |02:38:44,070 ~-~-> 02:38:52,980 |that they're doing what they're doing? They don't even know they don't even know these people exist. That doubt what they do. They don't give a shit. And that's
1147 |880 |02:38:52,980 ~-~-> 02:39:01,710 |how I'm been. And I'm going back to that November I don't give a fuck who doesn't like me who doesn't believe in me who vote I don't give a shit. But I
1148 |881 |02:39:01,710 ~-~-> 02:39:09,180 |have left my fucking legacy in this fucking industry. And you can do whatever you want to do with it. You want to shoot holes through it? Okay, come with the
1149 |882 |02:39:09,180 ~-~-> 02:39:16,800 |data. You want to come here and say, well, it wasn't as good as he thought he was. Okay. Well show us what you did and how you fucking failed at it. What did
1150 |883 |02:39:16,800 ~-~-> 02:39:26,670 |you do? Where and how did you use the information? Okay, I think he did it wrong. But I took notes it through here's five pages and some scribbled Yes,
1151 |884 |02:39:26,670 ~-~-> 02:39:36,660 |bullshit. I took notes. It's like my son. Do I have to watch all these fucking videos? What does duck did you just say to me? What did you just say to me?
1152 |885 |02:39:37,050 ~-~-> 02:39:47,340 |Well, I'll just ask you, you're just what? You are just what? The whole fucking reason why I'm making these fucking videos is for you and your brothers. I don't
1153 |886 |02:39:47,340 ~-~-> 02:40:00,900 |need to do these fucking videos. I'm doing it in case something ever happens to me. My mindset, the things that I codified are actually accessible to you. You
1154 |887 |02:40:00,900 ~-~-> 02:40:03,870 |won't even understand my fucking journals unless you listen to this shit.
1155 |888 |02:40:09,059 ~-~-> 02:40:22,169 |So it's in, it's in the youth. It's not, you know, my son's not even exempt from it, it's just everybody wants it easy. And truth be told, if I believe that it
1156 |889 |02:40:22,169 ~-~-> 02:40:31,799 |was an easier way, you know, when I was younger, because I already knew it's gonna be hard, like, I knew it was gonna be hard. That's why I said, I'm gonna
1157 |890 |02:40:31,799 ~-~-> 02:40:39,479 |give myself 20 years. And I give myself 20 years, because it's gonna take a long time you make your money, lose money, and I'm gonna probably mess it up here and
1158 |891 |02:40:39,479 ~-~-> 02:40:49,739 |there. And I just, I just think that if I get to, when I'm 40, and I have a million dollars in the bank, I'm set. Now mind you, I'm thinking, I have a
1159 |892 |02:40:49,739 ~-~-> 02:41:02,399 |house, that needs to be a big house, like this one just needs to be a house, and a car or two. And maybe I have a dog, and have a wife and some kids or whatever.
1160 |893 |02:41:02,669 ~-~-> 02:41:10,889 |And I'm comfortable. And that trying to live above my means I just don't want to have to work when I'm 40 years old into the grave. That was my that was my plan.
1161 |894 |02:41:10,919 ~-~-> 02:41:24,449 |That was my goal for myself. It wasn't get rich. It wasn't drive Lamborghinis. It wasn't any of that stuff. It wasn't a jet set life. It was just being able to
1162 |895 |02:41:24,449 ~-~-> 02:41:31,799 |do whatever I wanted to do when I wanted to do it, and not have to worry about am I going to have to make my bills, if I spend that money, because I didn't
1163 |896 |02:41:31,799 ~-~-> 02:41:42,539 |come from rich. I didn't come from that. And when you start making money, and in the visibility of being able to make more money that wasn't available to you,
1164 |897 |02:41:43,079 ~-~-> 02:41:51,149 |like your mind is, is close to that. As much as you want to say, I can see myself and you're you're saying you would like that, but you can't really see
1165 |898 |02:41:51,149 ~-~-> 02:42:00,599 |it. Because if you can see it, if you really could see it, nothing's holding you fucking back. Not anybody that's doubting you and your family, your friends
1166 |899 |02:42:00,599 ~-~-> 02:42:07,619 |circle, and anybody online, none of that's just going to be an impediment. Nothing's going to slow you down. You're not going to hear the bullshit
1167 |900 |02:42:07,619 ~-~-> 02:42:21,419 |anybody's gonna say about it. And that's exactly what I felt. When I was 20. November 5 1992, at 9pm, on a Thursday evening, I cracked that book open. And
1168 |901 |02:42:21,419 ~-~-> 02:42:28,289 |when I was done reading it, you're probably asking for the first time if you're listening for the first time, but what was your reading, it was some piece of
1169 |902 |02:42:28,289 ~-~-> 02:42:37,769 |shit book written by Ken Roberts, I spent too much money on it was supposed to be a course on commodity trading. And it was really just the introduction, very,
1170 |903 |02:42:37,769 ~-~-> 02:42:49,469 |very oversimplification of something that would have otherwise been useless to anyone. But some people have made money with it. And it was just one of those
1171 |904 |02:42:49,469 ~-~-> 02:42:59,219 |things where they got lucky. It was a big move. And he taught long term daily chart trading where you hold on to a position for weeks, and maybe a couple
1172 |905 |02:42:59,219 ~-~-> 02:43:14,579 |months, which that doesn't fit me. But when I finished that book, I had a new appreciation for money, number one, and two, it gave me an exit. Because at that
1173 |906 |02:43:14,579 ~-~-> 02:43:24,419 |moment, I was thinking, I really want to be able to use my education and be a systems analyst. And basically work with programmers and work for companies that
1174 |907 |02:43:24,689 ~-~-> 02:43:35,459 |they have a function they need done, and work with an IT group and say, Okay, this is what they need. And we got to go through and make this for this company.
1175 |908 |02:43:36,299 ~-~-> 02:43:55,499 |So that was that was what I wanted to do. And I no longer wanted to do that. November 5 1992. At 1130. I was literally excited about something I barely knew
1176 |909 |02:43:55,499 ~-~-> 02:44:04,619 |anything about. And how many times my uncle brought it up when I was a younger teenager. You know, it's 14 1516 years old every Sunday, you know, richest
1177 |910 |02:44:04,619 ~-~-> 02:44:13,379 |people in the world trade futures and options, Michael, like I was being conditioned, I was being primed. So I know the Lord had this for me, like he he
1178 |911 |02:44:13,379 ~-~-> 02:44:25,289 |had every intention of me being who I am. The failures I've had is where I've allowed my instabilities. So mine is bipolar. You know, I don't always come
1179 |912 |02:44:25,289 ~-~-> 02:44:36,419 |across in an articulate manner. Sometimes I use language that isn't very well. easy on the ears. And I'll swing from one way or the other, but there's no
1180 |913 |02:44:36,419 ~-~-> 02:44:51,299 |denying that what he's laid in my hands is absolutely the closest thing to a holy grail than there's ever been. The problem is you're going to want to use it
1181 |914 |02:44:51,299 ~-~-> 02:45:00,509 |more times than you should. It's kind of like when you're a teenager and you discovered sex for the first time. You man, I was great. Let's do it again.
1182 |915 |02:45:00,539 ~-~-> 02:45:12,419 |Let's do it again, let's do it again. Some of you men still feel that way. Maybe maybe the ladies too, but you have to have a time in place to do it. And you
1183 |916 |02:45:12,419 ~-~-> 02:45:21,749 |have to be able to use protection. Okay? Otherwise you're going to multiply losing trades. And nobody wants a lot of unwanted children that the broken
1184 |917 |02:45:21,749 ~-~-> 02:45:35,429 |family will many times victimize. And I was from a fractured family. So I grew up in this world. With a chip on my shoulder, I wanted to prove that even though
1185 |918 |02:45:35,429 ~-~-> 02:45:46,139 |my parents didn't want anything to do with me, I'm going to make them regret that. Even still today. They don't give a fuck that you would think, Hey,
1186 |919 |02:45:47,069 ~-~-> 02:45:59,609 |Michael, this is crazy what you were able to do? Well, not one thing, but nothing like that. But they both had their handout for money though. My son has
1187 |920 |02:46:00,959 ~-~-> 02:46:15,299 |the best, the best fucking cheerleader he would ever fucking have. Because I've been where all of you are. And less than I've been homeless. I was sleeping in a
1188 |921 |02:46:15,299 ~-~-> 02:46:31,109 |Mustang. With my oldest son, laying in the front seat, no car seat. I was broke, broke. filed bankruptcy in 1998 is the fucking go into a courtroom to tell his
1189 |922 |02:46:31,109 ~-~-> 02:46:44,189 |mother, I don't have any money. That's the extent I was willing to go. My son who this whole presentation was about and circled around, doesn't have that
1190 |923 |02:46:44,249 ~-~-> 02:46:58,079 |problem. He is someone that is absolutely available all the time. Once the absolutely spend every waking fucking minute, building him up. I don't know any
1191 |924 |02:46:58,079 ~-~-> 02:47:08,669 |of you. And Alex, by the way, I have no availability to go to Miami, I appreciate your invite, I did get your email. But I'm also reminding everyone, I
1192 |925 |02:47:08,669 ~-~-> 02:47:16,139 |am not trying to be a celebrity, I don't want to go on people's shows. I don't want to I had people call me literally wanting to be on top shows, I don't want
1193 |926 |02:47:16,139 ~-~-> 02:47:23,519 |to be on any of that stuff. I don't want to be none of that stuff. I don't want to be a celebrity. If I wanted that shit, I wouldn't be leaving in November, I'm
1194 |927 |02:47:24,269 ~-~-> 02:47:35,009 |anticipating with a great deal of excitement, my leaving of social media in November. So I want you understand it's not a knock against you outs, I'm very
1195 |928 |02:47:35,009 ~-~-> 02:47:43,709 |proud of what you've been able to do. About I don't want to be in that setting. I'm uncomfortable with it. I don't want to have that type of climate around me.
1196 |929 |02:47:43,739 ~-~-> 02:47:57,599 |And I'll be watching whatever you do, and with a great deal of pride in what you've been able to accomplish. But I don't want to I don't want to waste more
1197 |930 |02:47:57,599 ~-~-> 02:48:10,379 |time away from my kids, because I have a little bit of interest in in the trading aspect on two of them right now. And because of that, my third, my
1198 |931 |02:48:10,379 ~-~-> 02:48:17,729 |youngest is now asking me questions. So he spent time with me three days, and we were watching price. And he actually watched me play live traded real money, by
1199 |932 |02:48:17,729 ~-~-> 02:48:31,199 |the way, probably not then. So that inspired him. So I really want to take the advantages of not having all of this time invested in all of you, which I have
1200 |933 |02:48:31,439 ~-~-> 02:48:40,559 |absolutely enjoyed. I've loved it. I've loved being able to share this with you. I've loved the time spent with all of you, I'd love to see the result that some
1201 |934 |02:48:40,559 ~-~-> 02:48:49,709 |of you actually went out and did what I told you to do, and you're lazing amazing results. A lot of you are still shy and I'm sure once I'm gone, there'll
1202 |935 |02:48:49,709 ~-~-> 02:48:55,949 |be a void there where people will say, Well, you know, this is where I'm coming out now. I'm going to show everybody this analysis that I've done and that's
1203 |936 |02:48:55,949 ~-~-> 02:49:06,689 |great. I watch you know, I'm gonna cheer from afar. But I don't even know you. And look what I'm willing to do for you. How much more do you think I'm going to
1204 |937 |02:49:06,689 ~-~-> 02:49:17,849 |do for my own kids? I have been wanting this my entire adult life. And I have it now. And some of you are literally writing me fucking emails telling me I'm
1205 |938 |02:49:17,849 ~-~-> 02:49:27,719 |selfish. Ignorant because I'm not willing to still teach. I'm not doing some secret fucking paid mentorship. You know what I'm doing? I'm investing my time,
1206 |939 |02:49:27,809 ~-~-> 02:49:39,059 |energy and whatever the Lord gives me into my children. I have already left you more than enough. But now I had exactly what I've been waiting for. My own
1207 |940 |02:49:39,059 ~-~-> 02:49:49,619 |children have an interest in doing this. I would hate to waste that opportunity. look back and say you know what? I spent too many times doing several hours on a
1208 |941 |02:49:49,619 ~-~-> 02:49:59,309 |Twitter space. For most of you didn't appreciate the fucking time on this thing and all of you this is being recorded like this because that way
1209 |942 |02:50:00,719 ~-~-> 02:50:05,639 |It's not like a conversation when you have your kid memorized last time, you had a conversation with your parents, and they were trying to tell you what you
1210 |943 |02:50:05,639 ~-~-> 02:50:14,459 |should and shouldn't do. You probably heard every ninth word in the conversation and everything else you fucking phased out. He's not gonna be able to have that.
1211 |944 |02:50:15,059 ~-~-> 02:50:24,389 |With this. This is the conversation. He knows exactly what I said. There was nothing hidden. When he says, but you didn't say, Oh, I fucking said it's on,
1212 |945 |02:50:24,419 ~-~-> 02:50:36,149 |let me play it back for you. Here's where this is where it happened. There's no excuse. Okay, and if something happens to me, he can go back in time. So you
1213 |946 |02:50:36,149 ~-~-> 02:50:43,889 |know, this is the day dad laid it out for me. And he that everybody else here. And while some of you think that this is something that, you know, I shouldn't
1214 |947 |02:50:43,889 ~-~-> 02:50:51,449 |shouldn't do, you know, get on here and talk about my kids or I talk about, you know, whatever happens in my personal life, I don't sit down and aim to bring
1215 |948 |02:50:51,449 ~-~-> 02:51:00,029 |all that stuff out. But because I just don't have a filter, it just comes out. And I don't care if it offends you. Or if it feels like it's wasting your time,
1216 |949 |02:51:00,029 ~-~-> 02:51:09,479 |because I don't give a fuck, okay, I don't care. I'm doing what I have to do. While I'm doing it. And this is the best way I can do it. I can't do it better.
1217 |950 |02:51:09,509 ~-~-> 02:51:16,199 |I don't know how to do it better not capable of doing it better. So therefore, this is the way it is. If you don't like it, if it doesn't resonate with you,
1218 |951 |02:51:16,499 ~-~-> 02:51:25,019 |I'm sorry. It's not like I didn't try I have tried for years to help all of you. And if it didn't work for you, I will hope you find something else that works.
1219 |952 |02:51:25,619 ~-~-> 02:51:34,949 |If trading has been you, I know what it feels like to have that. And you just can't leave it. In the first couple years of my existence as a traitor. I was
1220 |953 |02:51:35,099 ~-~-> 02:51:48,299 |just like that it was like a a toxic relationship. I couldn't like Oh. But when you finally go through marriage counseling with yourself, and you fix all the
1221 |954 |02:51:48,299 ~-~-> 02:51:58,169 |problems that you have, that's what happened for me. I was the one holding it all back. It was it was neat, over leveraging overtrading trying to find setups
1222 |955 |02:51:58,169 ~-~-> 02:52:10,409 |that really wasn't there, forcing my will and the trade taking my external desires of either depression, or embarrassment, because my first wife left me
1223 |956 |02:52:10,409 ~-~-> 02:52:21,149 |for an older man, all those things were problematic for anyone, whether they had the same mental baggage that I have or not, that's a hard pill to swallow. And
1224 |957 |02:52:21,149 ~-~-> 02:52:31,349 |then on top of that your parents don't want nothing to do with you. And then you lose the only parent that you had. Or envision, which was my grandfather. So I
1225 |958 |02:52:31,349 ~-~-> 02:52:41,369 |had all the fucking recipe of a comeback underdog story. And none of that is an excuse for me to lean on and say, that's the reason why I couldn't make it. It
1226 |959 |02:52:41,369 ~-~-> 02:52:52,889 |was always me. It was always me. It was my reactions to all those things. All of you had things done to you. Some of you have had worse physical things done to
1227 |960 |02:52:52,889 ~-~-> 02:53:02,039 |you than me, that have scarred you. Some of you, you don't have any knowledge of who your parents, are you maybe you discovered that you were adopted? And you're
1228 |961 |02:53:02,039 ~-~-> 02:53:12,329 |just like, Why would my parents even just give me my How could you do that? I get these types of emails from students. And that it holds them back. You can't
1229 |962 |02:53:12,329 ~-~-> 02:53:22,529 |change that stuff. You know, just like Cameron, he can't change the fact that he had that many attempts and that many failures. So he wrestles with that. Well,
1230 |963 |02:53:22,889 ~-~-> 02:53:33,779 |you either grow past that, and say, Okay, that was just a moment during this journey. I stubbed my toe there. But it didn't put me in a wheelchair where I
1231 |964 |02:53:33,779 ~-~-> 02:53:42,059 |can't walk the rest of the way, you're literally going to have this in the rest of your life, you're going to have drawdown, you're gonna have periods where you
1232 |965 |02:53:42,059 ~-~-> 02:53:50,699 |just can't find your groove, and you have to give yourself permission to stop trading. That means stop for a week or two. Don't try to push it really hard.
1233 |966 |02:53:51,239 ~-~-> 02:53:59,279 |And don't take external reasons for you to want to feel better about yourself. Or mask an uncomfortable situation you may be going through in your personal
1234 |967 |02:53:59,279 ~-~-> 02:54:09,389 |life, maybe a divorce, maybe it could be a number of things, whatever it is, it's making you feel like you need some kind of distraction from that pain, or
1235 |968 |02:54:09,389 ~-~-> 02:54:22,169 |that misery. The worst thing you can do is take that to the marketplace and say here reward me for doing this and make me feel better. Like you're picking up
1236 |969 |02:54:22,169 ~-~-> 02:54:33,779 |the charts and rubbing it like a genie in a lamp and answering my wishes. do my bidding, answering answer to my will. And you're not even looking at it
1237 |970 |02:54:33,899 ~-~-> 02:54:46,109 |objectively. When you're like that. You're in pain. You need some kind of like I said perfect distraction. And I was doing that in the beginning. That's most of
1238 |971 |02:54:46,109 ~-~-> 02:55:01,169 |what I was doing. Every single time I traded and it's something you don't identify until you hit rock bottom not once, not twice, but a few The Times. And
1239 |972 |02:55:01,169 ~-~-> 02:55:10,349 |if you still feel like you want to be here trying to learn how to do this, you are a traitor. You just haven't found your consistency or the model that shoot.
1240 |973 |02:55:12,179 ~-~-> 02:55:21,809 |Anybody that says, I quit, I'm not doing this, but you can't imagine living life without the illness, you're lying to yourself, you're lying to yourself. So just
1241 |974 |02:55:21,809 ~-~-> 02:55:29,129 |admit the fact that you're in a point right now, you're frustrated. And that's normal. I quit dozens of times when I was younger. But really, that was a code
1242 |975 |02:55:29,129 ~-~-> 02:55:37,379 |word for I need a break. And that break only was long enough until I had enough money to put back into the account. That's the way it was, folks. That's exactly
1243 |976 |02:55:37,379 ~-~-> 02:55:45,989 |what it was. And you should be encouraged by that. Because I don't want to be the catalyst that talk anybody out of doing this, because I think this is one of
1244 |977 |02:55:45,989 ~-~-> 02:55:59,759 |the one of the last best opportunities to become extremely comfortable. But with the potential to make whatever you want to make. But you have to be comfortable
1245 |978 |02:55:59,759 ~-~-> 02:56:11,909 |accepting periods where you lose money. And it might be a series of them. And if you can't control yourself, if you can't identify the fact that okay, I had a
1246 |979 |02:56:11,909 ~-~-> 02:56:21,269 |losing trade. I want to get that back. Mad. I'm regretful, I didn't see it like I should have. Okay. Is that the proper state of mind? Before you put on a new
1247 |980 |02:56:21,269 ~-~-> 02:56:35,939 |trade? Fuck now. So you start. That's why these rules are here for him. Because he couldn't. And then he would get mad. Just putting the trade on just to see
1248 |981 |02:56:35,939 ~-~-> 02:56:46,709 |what would happen. And then ready to take the credit if he was right. Like he did something you have been there before? Does that sound like something I did
1249 |982 |02:56:46,709 ~-~-> 02:56:58,919 |when I was younger, too? Let's go gambling. That is gambling. And I don't promote gambling, I don't promote that gamblers mindset, there has to be a
1250 |983 |02:56:58,919 ~-~-> 02:57:07,649 |reason for you to take that trade. If there isn't a sound reason to take that trade or stay in it. There's no reason for your stop loss to get hit. If
1251 |984 |02:57:07,649 ~-~-> 02:57:16,889 |everything in that chart is saying that it's not going to pan out, it's definitely you're wrong. Concede and say, Okay, I'm done. And don't go back in
1252 |985 |02:57:17,279 ~-~-> 02:57:29,129 |for that day. No matter what happens, the learning experience that you get without losing money is astronomical. In the times that you do that, and you are
1253 |986 |02:57:29,129 ~-~-> 02:57:38,939 |right, because it goes the other direction. That is a learning experience that is so powerful. That No book, no video course no example of me doing it in front
1254 |987 |02:57:38,939 ~-~-> 02:57:49,889 |of you doesn't have the same impact. You learn by doing. And experience is going to be your best mentor. The only thing I've been is the conduit that say, Hey,
1255 |988 |02:57:49,889 ~-~-> 02:57:56,219 |here's a language. Look at the charts. This is what it's telling you. Do you understand what it's speaking to you and saying, Hey, this is what I'm trying to
1256 |989 |02:57:56,219 ~-~-> 02:58:04,619 |do? Are you ready? Because if you're not, I don't give a shit. I'm still going. And if you weren't ready, you just wait for the next one. Like, in the
1257 |990 |02:58:04,619 ~-~-> 02:58:15,119 |beginning, you're new, and you feel like that was the only fucking trade I'm ever gonna have. Why did I miss that? That's infancy talking. It's like a baby a
1258 |991 |02:58:15,119 ~-~-> 02:58:21,239 |child, when you take the toy from them that make them get up in the chair to eat dinner. And you can have the toy back and you're done eating but they don't want
1259 |992 |02:58:21,239 ~-~-> 02:58:29,279 |to do that. They want to have it their way. It's infancy. That's all it is. And I'm not talking down to you because I know exactly what that felt like for me.
1260 |993 |02:58:30,269 ~-~-> 02:58:38,609 |You want to have it your way on your timing. And guess what the market says I don't give a fuck what you want. And what time I'm going to do it. It's my time
1261 |994 |02:58:38,609 ~-~-> 02:58:48,209 |not yours, you better be here when I'm doing it. That's how it is. So to remove all the ambiguity, all the guesswork, he has a start time he has to be in front
1262 |995 |02:58:48,209 ~-~-> 02:59:11,789 |of his computer at 945. Or on his phone checking in at 945. He has to be on duty until 1059. Because 11 o'clock, his shift is over. Now it is in a trade. And
1263 |996 |02:59:11,789 ~-~-> 02:59:24,599 |it's going past 11 o'clock. He hasn't hit his target. He still holds it. But the initial entry that has to that execution has to happen between 10 o'clock in the
1264 |997 |02:59:24,599 ~-~-> 02:59:36,989 |morning to 11 o'clock that at 11 o'clock. To me, I don't want him to take that trade. But 1059 He can. Why would you have a rule like that? Because that's how
1265 |998 |02:59:36,989 ~-~-> 02:59:49,139 |strict I am. I want him only on that time. I don't want him looking at anything past 11 o'clock. That tells you I have pressed on you the importance of that
1266 |999 |02:59:49,139 ~-~-> 02:59:49,589 |hour.
1267 |1000 |02:59:50,610 ~-~-> 03:00:00,690 |There's something going on in that hour that can't tell you. But this pattern this model this approach to trading capitalizes on it and this is The closest
1268 |1001 |03:00:00,690 ~-~-> 03:00:08,280 |fucking thing I can get you to it without telling it and getting myself in trouble is the same thing is happening at two o'clock to three o'clock in the
1269 |1002 |03:00:08,280 ~-~-> 03:00:14,580 |afternoon. And it's the same fucking thing that's happening at three o'clock in the morning and four o'clock in the morning, New York local time. It's
1270 |1003 |03:00:14,580 ~-~-> 03:00:24,930 |algorithmic, it's doing something it was going to do, regardless of how many people buy and sell period and a story. That's all I'm gonna say about it. But
1271 |1004 |03:00:24,930 ~-~-> 03:00:36,030 |anyway, I have a Saturday get back to, and I have these little baby puppies that I am absolutely in love with. And I'm having such a blast with. And they already
1272 |1005 |03:00:36,030 ~-~-> 03:00:46,500 |know their names. It's really, really important that you train them right away and you reinforce like I treat them with real chicken, we take chicken, we boil
1273 |1006 |03:00:46,500 ~-~-> 03:00:53,700 |it, and kind of into small little pieces. And for the folks that want to hear about trading and stuff, I'm done on on it. Now. I'm going to spend about five
1274 |1007 |03:00:53,700 ~-~-> 03:01:00,780 |minutes talking about personal shit, so you can sign off from there. But the folks that want to hear this, the personal stuff, not that it's all that
1275 |1008 |03:01:00,780 ~-~-> 03:01:11,640 |important, but I feel like sharing it. It's important that you imprint on them early on, and you reward them with something that number one because we got them
1276 |1009 |03:01:11,640 ~-~-> 03:01:24,900 |from the breeder. Breeders only give them kibble. So we give our dogs a natural diet, real food, real meats, you know, coconut oil, we really spend way more
1277 |1010 |03:01:25,500 ~-~-> 03:01:35,730 |than anybody would probably do for their pets. But we we treat them very well. And calling them by their names separately. Like we have two of them, they have
1278 |1011 |03:01:35,730 ~-~-> 03:01:45,420 |to separate segregate them and work with them one at a time. And by calling in their name and saying like calm and having a piece of chicken in your hand, the
1279 |1012 |03:01:45,420 ~-~-> 03:01:56,160 |mannerism of you laying your hand lower, calling them by name and telling them comm it teaches them to recognize their name. So already when they're outside
1280 |1013 |03:01:56,160 ~-~-> 03:02:06,540 |playing, if I say Scout comm they're roughhousing they'll immediately jailbreak find me with their eyes and then run to me and she's looking for my hand to come
1281 |1014 |03:02:06,540 ~-~-> 03:02:07,740 |down and I'll have a