042-ict-tw-spaces-2023-08-31-Knowing-Your-Model-Will-Deliver
Last modified by Drunk Monkey on 2023-09-26 13:07
Outline
00:58 - Knowing your model will deliver.
- The two main motivators in this world are sex and money. They are the two strongest influences over the human mind.
- Trading is no different than any other activity.
- The influence of money and how it affects your ability to trust a model and how to master it so that you can trust it.
- The secret to making money.
04:32 - Patience is the biggest hurdle to overcome.
- Why impatience is the biggest hurdle in front of every trader, and how to overcome it to become a successful trader.
- The importance of being comfortable being still.
- In the market, it can't bite you until you get in there on the sidelines. The only thing that is hurting you is your pride and ego that you didn't do something.
- The first step is to discover who you are and what makes you tick.
10:03 - Knowing how you will derail yourself.
- People know how they will derail themselves, and it's not a comfortable or popular topic to talk about, but it's paramount.
- I wish I would not have traded yesterday.
- Mentor is an impatient person, but has to work hard to be patient as an educator and mentor.
- One of the weirdest things to encounter when trading in a consolidation.
- You are conditioning yourself to be responsive to a collective mindset that may not be all that in tune with what is going to happen in the marketplace.
- Going into the handful of live streamers to see what their audience thinks about the marketplace and how the sentiment shifts.
17:00 - The worst thing you can do to stifle your proper development.
- The worst thing to do to stifle proper development is to be part of a group of people who are going to inspire you to do things many times after the fact.
- The experience that you are trying to gain should be the proper kind of experience.
- The lack of experience in how you are going to relate to the actions in that is the root or foundation of impatience.
- Impulsiveness is the next thing to look for.
22:23 - What separates me and our community from most others?
- What separates michael and his community from most others is that he speaks from a position of authority authorship.
- Stochastic divergence is a fucking joke myth. It ain't real. It's just like any other thing, a stochastic divergence didn't do shit for you.
24:59 - Focus on the right time and price.
- The difference between expecting a trade to go higher and expecting it to trade higher at a time of day when you expect it to run.
- Every single trading day is open to risk.
- The 2022 mentorship playlist, the silver bullet, and how to use it to get closer to the general idea of what the market can do.
- The fair value gap.
29:52 - How to apply price action to price action.
- You can't fix that and you're not going to undo it either, so you might as well find a way to apply that to action. Action will tell you it will not be the same.
- Forex is not favorable or can't be profitable because it's violent.
- You have to know what the normal delivery of the market is. When the market usually has a spooling event, where it starts to run in one direction.
- When markets move up there in a buy program, it has absolutely no cause and effect associated with it.
35:20 - The importance of price delivery in trading.
- You have to learn what these markets do through delivery to remove impulsiveness and remove impulsive behavior.
- The only way to combat impulsive trading is to learn about delivery.
- In certain instances, the market will create market reversals, continuations and range bound opportunities.
- Understanding and having a general knowledge of how the price is delivered is a strength.
- Even if a move has already started on the daily chart and it's ran several 100 handles or whatever on a big day, you know that you're not going to be impulsive the next morning.
- The first rule is to lower expectations on the morning session.
41:54 - The lack of case studies and case studies.
- The next tenant is fear. Fear is the lack of journaled case studies, fear that this isn't going to work for you.
- Fear is easily conquered once you go through the process of collecting the resources and case studies where it worked in the past.
- Training the brain to see examples by retention over and over again, giving yourself a pseudo experience.
- Your journal is your secret weapon. It's the greatest trading book you're ever going to read, and you can't make it more intimate.
47:34 - How to overcome your fear about trading?
- Meditation is a daily ritual. It has to be something you do as a daily routine, even on weekends, to feed the mind constructive, positive learning.
- Fear of heights.
- How to conquer fear about trading, condition yourself to find the atmosphere and the profile in the marketplace, not market profile.
- Why day trading is not about being greedy.
50:37 - Running from the bottom of a mountain slope.
- You think that this stuff works, but it just might be the day that you go in there and try to do it.
- Nobody goes up to Everest in a straight shot.
- When climbing the equity curve and getting in, trying to find profitability and consistently profitable each day in the beginning, and trying to make this percentage every single day.
- Your model says be done. You don't trust it. You're losing sight and you're pushing your entire career into one trading day.
- The four central tenants that keeps you from trusting and knowing that your model will deliver.
- The initial interest in trading and trying to make money is greed, morbid curiosity, because we are not really like average people to be willing to put ourselves through this.
57:35 - The definition of a weak person.
- The one person in his mentorship who ruined his life by calling the future before it happened, and how to fix it on his own.
- The realist is a realist.
- Once you unfuck yourself, you can make yourself a profitable student, a profitable trader and a fucking millionaire.
- Most people don't take notes, and they weren't paying attention.
- There will be periods in life when you are mentally and physically weak, like when your firstborn almost took himself out.
- Trading in a time when you should not have done it.
01:04:11 - Focus on how will you engage price.
- Focus on how to engage in day trading, whether it be short-term intraday, scalping day trading or day trading.
- Learn from larry williams, apply what your personality is to your trading, and find the approach to trading, short term, intradays, day trading and long-term trading.
- You have to know how you're going to do it, how you are going to engage in it, and when you're engaging in it.
- The first part of this presentation today is paramount to you, ever finding how a model will deliver consistently.
01:09:43 - How to prepare for the opening of the market?
- What to expect to see when the market opens on monday morning, and how the market reacts to a shift in market structure.
- How this will hurt the average retail trader.
- You can't read a chapter in a book or talk about it in a long-winded video or playlist. It needs to be experienced over months.
- One year is a good foundation.
01:12:57 - Killers were savages.
- They're meat eating motherfuckers, vampires, sucking the blood out of the retail mindset. They're caving their skulls in, walking all over their corpse and picking their pockets before they leave.
- They're apex predators here, apex predators, not scavenging, not going around and picking up what was left, not vultures.
- Trading is a scheduled delivery for you. You have work hours, a time window, and you have to wait until the next time it makes another broadcast. Patience is required.
- One hour can change everything in your family tree, yours and everybody behind you.
01:18:16 - Which one can you do?
- The importance of being a long-term position trader and being willing to sit through a lot of shit and be wrong more times than not.
- The two things missing in Asia.
- You don't even need a twitter space to encourage and get your feathers fluffed up. You won't need a Twitter space. You will know when it will be in your crosshairs.
- You have a life skill, no one can take it from you. Guard it mentally.
01:23:34 - The importance of being excited about trading now.
- There are ways to do it now that were not available when he was younger, and when you do these types of things, you submit to the idea that 2020 is going to cost you 20-30 on average net that a week.
- You are building an empire.
- The goal is to increase the aptitude in learning and remove the obstacles for students to learn.
- Recognition is the result of repeated exposure when back testing and journaling, providing yourself a means of recognition through repetition through repetition.
01:29:26 - Don’t try to sell your money from your account.
- The four central tenants to preventing a model that will deliver for them. They will be impatient, impulsive, impatient and impulsive.
- You have a lifetime of learning with what is already on youtube. You have enough more than enough, but you can't be a perpetual student.
- The one little curveball that causes you to take a small amount of risk that is taken from you as a loss.
- How a mindset shifts in profit and loss, making money, losing money, all these shifts in how you think about yourself and the markets and your model.
Transcription
| 1 | 00:00:58 --> 00:01:16 | ICT: Well, it's a good morning. It is a good morning. Hope you're all doing well. So I felt like jawboning here this morning. The topic is knowing your |
| 2 | 00:01:16 --> 00:01:29 | model will deliver. Now, for some of you that are listening, you may have not, at this point, discovered what your unique model is going to be for trading. And |
| 3 | 00:01:29 --> 00:01:40 | that's good, that's fine. There's no rush. This is a very important stage of your development, because many students, not just mine, but anyone really, that |
| 4 | 00:01:40 --> 00:01:52 | takes on the endeavor of trying to learn how to trade and speculate in these markets. They rush and that, that tendency to feel impatient. It's overwhelming. |
| 5 | 00:01:53 --> 00:02:03 | It feels like if you don't do it right now, you're going to miss out entirely. And everybody else is at the party having fun and you want to, you want to get |
| 6 | 00:02:03 --> 00:02:14 | there. Much like it was probably when you're younger, and you were last one to show up to the party, your friends were waiting on you. And you would speed and |
| 7 | 00:02:15 --> 00:02:27 | run red lights and drive recklessly just to get there just to find out that you really had missed anything yet. All the while incurring increased risks of |
| 8 | 00:02:27 --> 00:02:36 | damaging your own personal property and other people's property and maybe your own and other people's lives and health. Well, in trading is no different. |
| 9 | 00:02:37 --> 00:02:52 | Because there's two main motivators in this world. Sex, and money. They're the two strongest influences over the human mind. And while I'm not gonna be talking |
| 10 | 00:02:52 --> 00:03:07 | about sex, in this podcast, I'm gonna be talking about the influence of money, and how it affects your ability to trust a model, and how we can master it. So |
| 11 | 00:03:07 --> 00:03:21 | that we can trust knowing your model will deliver. One of the things that permeates the industry in terms of our community, we come across as a bunch of |
| 12 | 00:03:21 --> 00:03:34 | braggarts a bunch of snooty individuals thinking that, you know, we have what works and everything else doesn't work. It's superior to everything else. But |
| 13 | 00:03:34 --> 00:03:45 | there are other ways that make money. And the secret to making money is managing it well. Because as long as you don't risk too much, and you stay in the game |
| 14 | 00:03:45 --> 00:04:00 | long enough, you can be profitable. I don't like that way of thinking, at this sounds like surviving. And I don't like the idea of promoting the idea that you |
| 15 | 00:04:00 --> 00:04:13 | should be thankful you just made it out alive in any trading day. And for some of you, perhaps most of you probably feel that's exactly what it feels like when |
| 16 | 00:04:13 --> 00:04:23 | you endure a trading session. And you get out without blowing your account. You get out without having a major drawdown or get out with taking a loss at all |
| 17 | 00:04:23 --> 00:04:38 | just getting the costs of commission covered. And that's that bullet. If you feel that way. If you apply what I'm going to talk about today, you'll be far |
| 18 | 00:04:38 --> 00:04:49 | less likely to feel that again. They're all normal things. They're all characteristics of a developing trader. But many times that developing trader |
| 19 | 00:04:50 --> 00:05:04 | wants to go out there too quickly. ill prepared to navigate the financial storms that these markets can create The first topic I want to touch on is impatience. |
| 20 | 00:05:05 --> 00:05:22 | I kind of like, mentioned that briefly in the opening here. But I think that largely, this is the biggest hurdle in front of every trader. When I first |
| 21 | 00:05:22 --> 00:05:33 | started talking about forex and baby pips forum, one of the first things I mentioned, to anyone that would be willing to listen or read, what it was all |
| 22 | 00:05:33 --> 00:05:43 | sharing, is you're gonna need a lot of patience. And for the old hats, and here to have been with me since then, you know, that's true, I said, you're gonna |
| 23 | 00:05:43 --> 00:05:55 | require a lot of patience, and either you're gonna forge it, not fake it, you're gonna forge it, you're gonna create it, it's going to be made manifest in you. |
| 24 | 00:05:56 --> 00:06:08 | Because of putting in your due diligence of learning how to sit still, when you're not ready to do anything, you have to remain still. One of the things I |
| 25 | 00:06:08 --> 00:06:22 | found interesting, living at the house I'm at now, we have like little groups of deer that frequently come out and in the early morning, and in the late evening, |
| 26 | 00:06:22 --> 00:06:32 | they'll come out sometimes they're 1520, strong. And they had these little ones that come with them. And whenever they see something, the smallest of them |
| 27 | 00:06:32 --> 00:06:46 | immediately dropped down. You can't see them hardly. What are they doing? Remaining Still, why? Because they don't have the knowledge. They don't have the |
| 28 | 00:06:46 --> 00:06:58 | experience. They don't have the plan of action, to do anything to protect themselves. And to be honest with you, I don't know if it's by instinct, I don't |
| 29 | 00:06:58 --> 00:07:11 | know if it's taught to them by their their parent. But it's a skill set that every one of you has a phone, a little, tiny little fledgling. trader needs to |
| 30 | 00:07:11 --> 00:07:27 | learn, and be comfortable being still, it's safe. It's absolutely safe. In the market, it can't bite you. Until you get in there. On the sidelines, only thing |
| 31 | 00:07:27 --> 00:07:35 | that's hurting you is your pride and your ego that you didn't do something. But maintains it tricks you thinking that you really knew what you were doing. But |
| 32 | 00:07:35 --> 00:07:43 | really, if you were honest, did you tell anybody in advance? Was it public knowledge that you thought it was going to do this very thing, go only this low, |
| 33 | 00:07:44 --> 00:07:55 | then go up to that very high. In that entire run, you wouldn't have any adversities or any kind of anxiety. You're lying to yourself. You're lying to |
| 34 | 00:07:55 --> 00:08:05 | yourself. And I see many people, even in my own community here that are brand new, that do that kind of stuff. You see it permeated in industry across social |
| 35 | 00:08:05 --> 00:08:17 | media, everybody. Everybody knew it was going to do something after it happened. And when you talk like that, and you really didn't believe that was happening. |
| 36 | 00:08:18 --> 00:08:28 | You didn't believe that was really in the chart. You weren't one sided in your analysis. What you're creating is this overwhelming sense of impatience, because |
| 37 | 00:08:28 --> 00:08:38 | what's going to happen is you're going to trick yourself by lying like that. That you're ready to trade. One day, something's going to happen. And you're |
| 38 | 00:08:38 --> 00:08:48 | going to feel like you need to do something to change the way you feel about your life, your present circumstance. And you're going to go in there and try to |
| 39 | 00:08:48 --> 00:09:02 | press a button. And the results are not going to be favorable because of impatience. How do you overcome impatience? Well, it stems from a lack of |
| 40 | 00:09:02 --> 00:09:11 | experience, experience in the sense that number one, you have to know how these markets can hurt you. Obviously, it's it goes without saying that if you're |
| 41 | 00:09:11 --> 00:09:24 | wrong, you lose money. But you have to have the experience. Knowing who you are. That's the first step. And all the things I put you through. That's the first |
| 42 | 00:09:24 --> 00:09:35 | thing you're trying to discover who you are as a person, what makes you tick. What makes you think, what makes you want to take a trade, what's occurring in |
| 43 | 00:09:35 --> 00:09:46 | your mind at a time when you think that there's something going on that chart? That's the biggest hurdle. Every single person that's ever going to amount to |
| 44 | 00:09:46 --> 00:10:03 | anything as a trader, profitable, consistently profitable, wildly profitable. The central tenant to all of them because they know themselves very well. And |
| 45 | 00:10:03 --> 00:10:15 | they know how they will derail themselves. And it's not a comfortable or popular topic when I talk on it. But it's paramount. It wasn't until I understood how I |
| 46 | 00:10:15 --> 00:10:32 | could Ravel myself. Doesn't matter how many gizmos and things I can see in price action. If I'm Miss wired, if I'm off center, like I feel now, which is why I'm |
| 47 | 00:10:32 --> 00:10:41 | doing these, if I if I do this, it kind of allows me to discharge instead of going into the market and trade. Yeah. Yeah, I mean, pretty good yesterday |
| 48 | 00:10:41 --> 00:10:58 | trading. But I wish I wouldn't have done it. I'll say that again. I wish I would not have traded yesterday. I broke a rule yesterday. And while |
| 49 | 00:11:00 --> 00:11:16 | I left with something, the wind doesn't outweigh the fact that I know that I did not follow my rules. And I feel guilty. I feel like my hands are dirty. And in |
| 50 | 00:11:16 --> 00:11:29 | some ways, part of this Twitter spacer x space got to be hard now. It's something I'm a confessional. You know, I've been doing this for a long, long |
| 51 | 00:11:29 --> 00:11:42 | time. And I am a human being, I have emotions. I have a family and my oldest boy has recently hurt himself. And I'm wrestling with a lot of different emotions, |
| 52 | 00:11:42 --> 00:11:52 | fear. I'm anxious about him getting through the last stages of his healing. I'm angry and for not wearing a helmet. And I went into the market yesterday and I |
| 53 | 00:11:53 --> 00:12:08 | wanted to do something. And that I told you yesterday, I want to do it, but I shouldn't. But I moved to the part of the house where nothing could distract me. |
| 54 | 00:12:10 --> 00:12:24 | And I gave the devil idle hands and idle hands. Oh, you know, if they say they'll find trouble. And thankfully, it worked out in my favor yesterday, but I |
| 55 | 00:12:24 --> 00:12:39 | wish I wouldn't have done it. Now, as a mentor, as an educator, as a teacher, I want you to know that I'm prone to do those things. And you think that I'm a |
| 56 | 00:12:39 --> 00:12:52 | saint with patients. I'm one of the most impatient people by very, very, very, very small patience. But I have to work very hard to be patient as an educator. |
| 57 | 00:12:54 --> 00:13:06 | So when you wrestle with it, just know that it's not just you. I do to everyone else doesn't everybody says they don't are liars. It's liberating, when you're |
| 58 | 00:13:06 --> 00:13:16 | honest, it's liberating, when you come to terms with the fact that what makes you impatient is the very lack of experience and the experience of knowing how |
| 59 | 00:13:16 --> 00:13:30 | you are going to think, how will you respond to that stimuli? When you see that market move a particular way. First up, first down or consolidated? One of the |
| 60 | 00:13:30 --> 00:13:37 | weirdest things you're going to encounter is you'll think, when the markets being held in consolidation, you feel like you're going to know how it's going |
| 61 | 00:13:37 --> 00:13:49 | to break out. And you start anticipating. Yeah, I think it's gonna go up there. How do you know that? How do you know that? You just started? Do you have a |
| 62 | 00:13:50 --> 00:14:03 | journal, a track record of you trading with that idea that insight networks? Or are you just thinking impulsively about what you may expect in price or what you |
| 63 | 00:14:03 --> 00:14:14 | would like to see, and you're projecting your will on price, in a time of ignorance as a developing student, and I don't mean that to be derogatory, I |
| 64 | 00:14:14 --> 00:14:26 | mean, in terms of the lack of your understanding, the the lack of your ability that is a state of ignorance, and everyone had that in the beginning. But you |
| 65 | 00:14:26 --> 00:14:41 | have to know that you have zero or very little experience when you first start. And the experience mostly is about knowing what you're going to do. That causes |
| 66 | 00:14:41 --> 00:14:51 | you to react. I'll give you a couple of scenarios. If the market runs real quick, as soon as you sit down from the chart and you're expecting something to |
| 67 | 00:14:51 --> 00:14:58 | happen or you join a community or you're in a discord channel, or you're among a number of other people that are sharing openly what their opinions are about the |
| 68 | 00:14:58 --> 00:15:08 | marketplace or one particular your market and you're watching it if you're brand new, and I know this is going to feel like me kicking sand and and a lot of |
| 69 | 00:15:08 --> 00:15:16 | faces of people that are trying to start communities or have a community, but I really want you to be honest, okay? And think about this and apply it to |
| 70 | 00:15:16 --> 00:15:32 | yourself. Even if whatever this community is, if it's free, or if it's by pay wall, know what you're paying to be a part of it. You're actually conditioning |
| 71 | 00:15:32 --> 00:15:46 | yourself to be responsive to a collective mindset, that may not be all that in tune with what really is going to happen in the marketplace. In layman's terms, |
| 72 | 00:15:47 --> 00:16:01 | you're hanging around in a mob, and you're thinking, only based on what the collective mob mentality is gonna say about that market. And if you, if you've |
| 73 | 00:16:01 --> 00:16:08 | never paid attention to it, just watch and see how the ones that come out openly and say, Yeah, I think the markets gonna go up, I think the markets gonna go |
| 74 | 00:16:08 --> 00:16:17 | down. That's why I love going into the few, the handful of live streamers. I like watching. And this is the only reason why I like watching it, I want to see |
| 75 | 00:16:17 --> 00:16:24 | what their audience thinks about the marketplace, I want to see how the sentiment shifts in their chat window, if they make it available, or I want to |
| 76 | 00:16:24 --> 00:16:32 | hear how they themselves the presenters think if they start talking very dogmatic about how they know it's going to go up, they're just going to have to |
| 77 | 00:16:32 --> 00:16:43 | do this. And if I see a setup, I know I got a 99% likelihood, I'm going to make money there. And that sounds arrogant, that sounds condescending, and sounds |
| 78 | 00:16:43 --> 00:16:51 | ignorant to say something like that to some of you, but it's the honest truth. I'm not watching other YouTubers don't learn anything. I want to see what a |
| 79 | 00:16:51 --> 00:17:02 | retail traders mindset is about the market at the very time, I'm anticipating my algorithm to sports specific direction. That's it. Some of them are entertaining |
| 80 | 00:17:02 --> 00:17:14 | to watch. But if you're part of a community like that, or a discord or Telegram, or whatever it is that you're a part of, and you don't know how to trade, you |
| 81 | 00:17:14 --> 00:17:26 | don't have a model, you don't know what you're doing. The absolute worst thing you could ever do, to stifle your proper development is to be part of a group of |
| 82 | 00:17:26 --> 00:17:37 | people. They're going to inspire you to do things many times after the fact. Everybody in the room will come to the consensus that, oh, yeah, this was this |
| 83 | 00:17:37 --> 00:17:48 | market is going up after it starts running. I'm not saying there won't be rockstars amongst the community that generally get it right here and there. But |
| 84 | 00:17:48 --> 00:17:56 | what you're actually doing is you're conditioning yourself, and building the wrong kind of experience, you're looking for a hand holding experience versus |
| 85 | 00:17:56 --> 00:18:11 | how I'm teaching you, you're going to walk alone. Sounds scary in the beginning. It sounds intimidating. And that's why I share when we do Twitter commentary, or |
| 86 | 00:18:11 --> 00:18:20 | I'll share my analysis beforehand on market reviews. Honestly, I think it's going to go here and lending you my experience. And the best way I can because |
| 87 | 00:18:21 --> 00:18:30 | that way you can submit to that idea. Go into charts and study with that idea in mind, not listening to a bunch of chatter from people that may not even know how |
| 88 | 00:18:30 --> 00:18:42 | to trade or they themselves are reacting to price. And feeling impulsive. You don't know, you don't know these people. You don't know what they've done. You |
| 89 | 00:18:42 --> 00:18:49 | don't know if they're really taking a trade. You don't know if they've been taking 15 trades before they even open their mouth up in these communities. And |
| 90 | 00:18:49 --> 00:18:58 | they're in severe drawdown. And they just want to feel right inside by calling it publicly but never divulging that they just went into serious drawdown or |
| 91 | 00:18:58 --> 00:19:09 | blown their account, or their funded account or failed their combine. So the experience that you're trying to gain should be the proper kind of experience. |
| 92 | 00:19:09 --> 00:19:21 | That means sitting down, learning about the market themselves. Whatever pursuit you're gonna go after, it doesn't have to be mine. It doesn't, it doesn't have |
| 93 | 00:19:21 --> 00:19:34 | to be what I teach. You can apply what I'm saying today, to whatever approach to trading you want to do. Because if you use these rules today on sharing, you |
| 94 | 00:19:34 --> 00:19:42 | stand a far better chance of being profitable with whatever I teach or what everyone else is teaching. And you have sound money management, you stand the |
| 95 | 00:19:43 --> 00:19:52 | best chance of finding consistency and profitability. If you think like I'm going to show you today, so don't think I'm trying to contort your mind and |
| 96 | 00:19:52 --> 00:20:01 | brainwash you to only be a viewer of ICT concepts only and nothing else can work. That's not the message here today. Every other message has been that I'm |
| 97 | 00:20:01 --> 00:20:16 | not going to shy away from that. But today, I kind of like want to be a broad spectrum of insight, opinion. And it may not hit. Some of you like I'm aiming, |
| 98 | 00:20:16 --> 00:20:29 | that's okay. But some I came here and need to hear today. So that's what I'm doing. But your lack of experience in how you are going to relate to the actions |
| 99 | 00:20:29 --> 00:20:45 | in price. That is the root or foundation of your impatience. You just don't know what you're going to do. What am I going to do if this happens? Oh, well, let me |
| 100 | 00:20:45 --> 00:20:53 | rush through this part. Because it's uncomfortable, not knowing myself, not knowing how I'm going to react. That's one of the reasons why I never drank |
| 101 | 00:20:53 --> 00:21:01 | alcohol, am I never did drugs. I've watched my family do things recklessly and tear their lives up and my father |
| 102 | 00:21:03 --> 00:21:17 | went to prison. Because he gave himself over to substance abuse, which lowers inhibitions. And then when you have a mental disorder that, like he has, you're |
| 103 | 00:21:17 --> 00:21:29 | more prone to want to end somebody's life. And that's what he did. And he's serving time for that. month for parole recently. I'm not sure how that went, I |
| 104 | 00:21:29 --> 00:21:40 | don't communicate with him. But it'll be interesting to see how that pans out, by the way. But the next thing is impulsiveness. If you're an impulsive person, |
| 105 | 00:21:42 --> 00:21:53 | what you're doing is you're showing signs that you have a lack of knowledge of price. So the normal progression is, while a trader starts this journey, the |
| 106 | 00:21:53 --> 00:22:05 | thing they overlook first and foremost, is they themselves. Once they get a better grip on who they are as a trader, and they feel like they can, they can |
| 107 | 00:22:06 --> 00:22:25 | conquer themselves. In the personal sense, that doesn't mean that they have conquered the uncertainty about what price does generally. What separates me and |
| 108 | 00:22:25 --> 00:22:36 | our community from most others, is when we talk about price when I'm referring to price. I speak from a position of authority. Authorship, this is what my |
| 109 | 00:22:36 --> 00:22:48 | outro is going to do. This is what it's been coded, this is what it's going to deliver. Just watch. Versus we got to wait for our indicator to show us |
| 110 | 00:22:48 --> 00:22:58 | something. We got to our eyes on this indicator here. These indicators when these things do this price will do that. That's total bullshit. That's bullshit. |
| 111 | 00:22:59 --> 00:23:11 | Price has no respect of any of that stuff. It just happens to be there. But it has no reason. No reason the rhyme behind why price is doing that. Serious. I |
| 112 | 00:23:11 --> 00:23:19 | mean, it's just the way it is. I know it feels like it feels like it's got some kind of sorcery hold over top of price and it's going to make it do something |
| 113 | 00:23:19 --> 00:23:30 | walking on a leash as an absolutely nothing to do with it. V Whap is a fucking joke myth. It ain't real. It's just in there just like any other thing. A |
| 114 | 00:23:30 --> 00:23:38 | stochastic divergence, you can find 1000s of times where a stochastic divergence didn't do shit for price. We just kept on going. |
| 115 | 00:23:43 --> 00:23:55 | impulsiveness stems from the lack of knowledge of price, you have to understand the central tenants of price delivery. That takes a lot of time. You can't rush |
| 116 | 00:23:55 --> 00:24:06 | that it's not like you can go out there and buy technical analysis from A to Z book. And think you figured it all out. I own that book, by the way. I thought I |
| 117 | 00:24:06 --> 00:24:14 | was gonna figure it all out when I was 20 years old that Mandy, buy that book there. And oh, wow, this is this is a small little snapshot of this is an |
| 118 | 00:24:14 --> 00:24:22 | indicator. This is what I use for most. Okay, well, now I know how to use it. I didn't know what I was doing. And what I was placing my interest and focus and |
| 119 | 00:24:22 --> 00:24:36 | time studying was things that was manipulating price. Think about that. That's what these indicators are doing. They're taking data that has already been |
| 120 | 00:24:36 --> 00:24:48 | delivered in price action. And they're applying mathematic mathematics and equations and and compressing and contorting and torturing that data to spit out |
| 121 | 00:24:48 --> 00:24:59 | some kind of pure Look at this. Instead of Where's price going? How is it delivering right now? Was there any manipulation recently was there any stops? |
| 122 | 00:24:59 --> 00:25:07 | Right? Did while you're expecting it to go higher than a trade down into an inefficiency, while you are expecting it to trade higher at a time of day when |
| 123 | 00:25:07 --> 00:25:20 | you expect it to run. There's a difference between what it is I'm trying to teach you to focus on versus everybody else's stuff. I'm not trying to take your |
| 124 | 00:25:20 --> 00:25:33 | attention away from price, I'm taking your attention right to price. But specifically, at the right time. My algorithm delivers on time and price, it |
| 125 | 00:25:33 --> 00:25:47 | will not do anything but unless manual intervention steps in that means the powers that be say wants to go here, it will go there. And it will do it in |
| 126 | 00:25:47 --> 00:26:01 | short order, and it will not respect your stop loss, it will not allow you to get out at the stop loss price. That's a trade that you were in. If you've ever |
| 127 | 00:26:01 --> 00:26:09 | endured that you experience manual intervention. Because the algorithm will not spool like that that's not it doesn't it's not delivering price algorithmically. |
| 128 | 00:26:09 --> 00:26:19 | When it does that that's manual intervention. That that's risk. That's the thing that everybody has to understand about every every instance, every single |
| 129 | 00:26:19 --> 00:26:34 | trading session, every single trading day, every instrument that's tradable, is open to that risk. Excluding that and you never know when it's going to be there |
| 130 | 00:26:34 --> 00:26:44 | entirely. Generally, there's times we're on the economic calendar, you can anticipate that. I've taught that we talked about it before. I'm traveling with |
| 131 | 00:26:44 --> 00:26:52 | people that's going to mention Okay, well, we'll talk about now because I didn't see that video. No, watch the video. There's no shortcuts here. You're an |
| 132 | 00:26:52 --> 00:27:07 | asshole ICT. Okay. That's your opinion, I'm a prick. I'm not an asshole. The lack of knowledge about price and its delivery. You put that to bed when you |
| 133 | 00:27:07 --> 00:27:22 | study conceptual ideas, things like my core content, mentorship, playlists, month, one through 12. Things like the market maker primer playlist. The 2022 |
| 134 | 00:27:22 --> 00:27:39 | mentorship playlist, the silver bullet, the TGIF, you're bringing yourself closer to the general idea of what price can do in certain instances. What you |
| 135 | 00:27:39 --> 00:27:49 | should do with that information is determine how you feel drawn to certain aspects of what it is that the market does. Are you a type of trader that likes |
| 136 | 00:27:49 --> 00:28:01 | to go against everybody else and go against the market don't fight that you're contrarian. That's all that that's all that that means that you are contrary. |
| 137 | 00:28:01 --> 00:28:14 | And that means that you have to wait for instances where the markets literally just careening higher or lower and you're comfortable fading that and you can |
| 138 | 00:28:14 --> 00:28:24 | make lots of money doing that if you know what you're doing, and you're waiting for a specific thing to occur in price. Now, admittedly, that's one of the |
| 139 | 00:28:24 --> 00:28:37 | hardest things in trading. So as a contrarian, you're wired way different than most people. But I have a way of teaching that you can take that contrary, and |
| 140 | 00:28:38 --> 00:28:53 | mindset and apply it to any timeframe with a very specific model 2022, the fair value gap Silver Bullet idea. They're all contrary and now they're not there. |
| 141 | 00:28:53 --> 00:29:02 | They're trend found. There, whatever you want to encapsulate at that moment in time, if you cut enough of the candles off to the left, because we don't have to |
| 142 | 00:29:02 --> 00:29:13 | look left to see what price did all the time. We just need to know what time is it? Where's the draw on liquidity? And where those times that I would share on |
| 143 | 00:29:13 --> 00:29:22 | Twitter, what do you see? It'd be a small little section of price action. And invariably, some party would come for. There's not enough data here. This is |
| 144 | 00:29:22 --> 00:29:35 | ridiculous. really encapsulate the entire hour of 10 o'clock and five o'clock in the morning in New York local time. I was doing things just like that smart guy. |
| 145 | 00:29:36 --> 00:29:47 | All that stuff is there for you to narrow your focus into what you're going to be drawn to as a trader. Are you a reversal trader? contrarian, you fight |
| 146 | 00:29:47 --> 00:29:56 | against the trend, okay, that's inherently ingrained in your personality. I can't fix that and you're not going to undo it either. So you might as well find |
| 147 | 00:29:56 --> 00:30:04 | a way to apply that to price action, because price action is not going to be and it will tell you, it's not gonna say, You know what? Andy just started trading. |
| 148 | 00:30:04 --> 00:30:13 | And this guy's really strong willed, I'm going to bend to his will, you know, who am I as price the markets themselves? How am I going to, you know, continue |
| 149 | 00:30:13 --> 00:30:25 | doing what I'm doing and not give it to Andy. That's not how it works. But it's weird how some of us come into marketplace. neophytes brand new, and we think |
| 150 | 00:30:25 --> 00:30:33 | that you know what, I'm gonna whip this shits as it's gonna be easy, it's gonna bend to my will, I'm gonna conquer it, I'm gonna master the market. Let me tell |
| 151 | 00:30:33 --> 00:30:42 | you something, I wrote this shit. And I'm not the master of it, because anybody that's in a seat of authority higher than me can go in and push a button, slide |
| 152 | 00:30:42 --> 00:30:50 | a little thing over here, it says the price is going to run higher than you thought it was going to go in the opposite direction. That's manual |
| 153 | 00:30:50 --> 00:30:58 | intervention. That is not me, moving my stop too close too fast, too soon and getting stopped out. That's an error on my part, that's an error on your part, |
| 154 | 00:30:58 --> 00:31:09 | as a trader, I'm talking about, well, you're in a trade and all of a sudden, it's going 5075 100 Plus handles just like that. That's not an error in trading, |
| 155 | 00:31:09 --> 00:31:21 | that you're getting ran over by a Mack truck, and a combo is behind it. And it just keeps and over and over and over again, you're getting ran over. That's the |
| 156 | 00:31:21 --> 00:31:36 | risk in these markets. Every single time you get in the marketplace, that is there. And I've been telling all of you. We are going to see some wild as shit |
| 157 | 00:31:37 --> 00:31:47 | in currencies. And I am not opening myself up to that risk. That's the reason why I'm not trading Forex. I didn't forget how to trade Forex. I don't think |
| 158 | 00:31:48 --> 00:31:55 | that what I'm saying here is saying that Forex is not favorable or can't be profitable, because I have students and you see other people and other school of |
| 159 | 00:31:55 --> 00:32:07 | thought that they're making money trading Forex. I'm not personally accepting that level of risk, because it's going to be violent. When the Swissy and the |
| 160 | 00:32:07 --> 00:32:21 | euro were de pegged, we're talking about that. You can't survive that. I can't survive that brokerage firms didn't survive that. It's, you know, that's a |
| 161 | 00:32:21 --> 00:32:35 | extinction level event and trading. But you have to understand that that's always there, that risk is always there. And stop loss orders will not protect |
| 162 | 00:32:35 --> 00:32:48 | you from that. Putting that aside, you have to know what the normal delivery of prices, when does the market usually have a spooling event, that means where it |
| 163 | 00:32:48 --> 00:32:56 | starts to run in one direction, it doesn't need to be fast. doesn't always have to be a low resistance liquidity run, where it's here one minute, and then a |
| 164 | 00:32:56 --> 00:33:08 | couple minutes later, it's already up to 50 handles. It just means it starts going to a specific buy or sell program that's not a buy and sell model. A buy |
| 165 | 00:33:08 --> 00:33:15 | program is when price or institutional order flow just starts delivering higher prices, it doesn't matter how many people are buying, it has absolutely no |
| 166 | 00:33:15 --> 00:33:23 | fucking reason why price is going up. Doesn't matter how many contracts are buyer's or seller's are coming in. It's being offered continuously. That's a |
| 167 | 00:33:23 --> 00:33:32 | buyer program, it's going to just keep offering at a higher price. Keep higher and higher, higher, higher, higher. And it just keeps doing that. When markets |
| 168 | 00:33:32 --> 00:33:38 | move up there in a bike program, it has absolutely no |
| 169 | 00:33:40 --> 00:33:48 | cause and effect associated with the amount of volume of buying and selling. That is the biggest fucking myth. This industry pulls over everybody. And the |
| 170 | 00:33:48 --> 00:33:55 | people that work in the financial industry, they buy that shit, they spoon feed it and they say, Oh yeah, that's what it is. And they get on CNBC to talk that |
| 171 | 00:33:55 --> 00:34:06 | bullshit. They get into these podcasts, they get on their YouTube videos, they write fucking books, and it's all fucking fiction. These markets are controlled |
| 172 | 00:34:07 --> 00:34:22 | before their digital markets where everything is automated now. Men would sit here and just run the market just like this. That's the way it was. That was the |
| 173 | 00:34:22 --> 00:34:34 | market makers, not a dealer at a desk, who say, I'm a market maker. You're a fucking dealer. You can't control price. You facilitate a buyer and seller |
| 174 | 00:34:34 --> 00:34:43 | together. Yeah, that's right. That's wonderful. But you aren't controlling where price is going. That's a market maker. That's what a central bank does. They run |
| 175 | 00:34:43 --> 00:34:52 | everything. You can't stop it. You're not going to fucking change it. You ain't gonna master it. I can fall victim to it. Whenever you want to go in here and |
| 176 | 00:34:53 --> 00:35:01 | change the ship up right then in there. That's manual intervention, but they're not going to do that every single day every day. Like every session every week, |
| 177 | 00:35:03 --> 00:35:14 | because nobody would trade them. They only want to go in there once in a while and clean the table. That's what happens. That's the way it works. That's the |
| 178 | 00:35:14 --> 00:35:23 | real market. That's how these things operate. And for some of you, maybe you've been trading for a while, maybe unprofitable and you hear that kind of stuff. |
| 179 | 00:35:23 --> 00:35:30 | You're like, this guy's full of shit. Okay? Bring your shit here live, and I'll do my shit live. And I'll run circles around your fucking ass and be more |
| 180 | 00:35:30 --> 00:35:41 | precise than you've ever fuckin seen. I'll be a surgical precision artist, and I will make your shit look like fucking clamoring. It's simple. Don't talk from |
| 181 | 00:35:41 --> 00:35:55 | the sidelines. But you have to learn what these markets do through price delivery. And if you do that, you remove impulsiveness. What is impulsive, |
| 182 | 00:35:55 --> 00:36:07 | you're watching price. You're among some chattering community of people in a telegram or discord or whatnot. And you're simply waiting for something to |
| 183 | 00:36:07 --> 00:36:17 | happen in price and starts running higher. What they're going to do, oh, I'm buying boats going up. Everybody will find their voice then and say it's going |
| 184 | 00:36:17 --> 00:36:32 | higher? Of course it is. It's gone up 30 handles it's running. And then you feel like, I gotta get on. I gotta get on that. And what do you do? Bye. Buy it. I |
| 185 | 00:36:32 --> 00:36:41 | gotta buy it right now. Because it might keep going up to where I don't fucking know. But it's gonna go up. Because look what it's doing right now. That's |
| 186 | 00:36:41 --> 00:36:49 | impulsiveness. And so when you're fucking laughing right now, and smiling and shaking your head, this motherfucker just pegged me again, yes, we've all been |
| 187 | 00:36:49 --> 00:37:03 | there, I've been there. But the only way you combat that, and you keep it at bay and you conquer it, is to learn about price delivery. That means you're not even |
| 188 | 00:37:03 --> 00:37:14 | back testing, you're just studying what price is likely to do. Most times. In certain instances, in certain circumstances, the market will create market |
| 189 | 00:37:14 --> 00:37:30 | reversals, it'll create continuations, it'll create range bound opportunities. Admittedly, I can't stand trading inside of a narrow range, I can. But to me, |
| 190 | 00:37:30 --> 00:37:39 | it's too tedious. It pisses me off, I'll have more losing trades than I like to have that can come out of that, but it just don't like that. It's a waste of my |
| 191 | 00:37:39 --> 00:37:47 | fucking time doing that. I know I can sit on my hands and wait for the time when I knew the market is gonna run or offer me swings intraday, where I can operate |
| 192 | 00:37:47 --> 00:37:57 | and do well. Get in, take my and go home and leave it to the rest of the people try to figure out what they're doing with it. But your impulsiveness is |
| 193 | 00:37:57 --> 00:38:12 | conquered by the study of general price action. And understanding what's available in terms of how markets move. What's the benefit of that? Knowing what |
| 194 | 00:38:12 --> 00:38:24 | to do for yourself as a trader, in terms of pursuing certain aspects of trading, some of you can't do well, in a trending market. Like it completely does, again, |
| 195 | 00:38:24 --> 00:38:33 | like you would love to be in a range bound environment, you'd like that kind of thing. Okay, that says, that's a strength for you, when you when you identify |
| 196 | 00:38:33 --> 00:38:47 | that then you where you can go in and zone into that type of condition in the marketplace, every timeframe, every single day has that occurring. You're gonna |
| 197 | 00:38:47 --> 00:38:59 | find that somewhere in every trading day, on any one given market, you go down low enough, in a timeframe, you'll see that very characteristic and price. And |
| 198 | 00:38:59 --> 00:39:08 | you can use that to trade. That's what I mean by understanding and having a knowledge, a general knowledge of how price is delivered. It moves from |
| 199 | 00:39:08 --> 00:39:22 | consolidations, to expansions to reversals. Knowing that ebb and flow how it does it and then applying it from a higher timeframe monthly, weekly, daily, |
| 200 | 00:39:22 --> 00:39:35 | four hour one hour 15 or whatever timeframe joining us you navigate with that price delivery continuum from higher timeframe to lower timeframe. And even if a |
| 201 | 00:39:35 --> 00:39:43 | move has already started on the daily chart, and it's ran several 100 handles or whatever on a big day, you know that you're not going to be impulsive the next |
| 202 | 00:39:43 --> 00:39:51 | morning, I gotta go and chase that it's going to keep going down which is the first rule I told you, when a large range today what do we do lower our |
| 203 | 00:39:51 --> 00:39:56 | expectations on the morning session. That doesn't mean that Mark can't run. It doesn't mean it can't take a tray. It just means that you as a developing |
| 204 | 00:39:56 --> 00:40:10 | student you as a new trader in the making If you're not there yet, don't have a hard opinion. Immediately the next morning after a large range day, wait, that's |
| 205 | 00:40:10 --> 00:40:20 | amateur hour, everybody is going to be thinking the same thing. It should keep going lower. And they're going to be waiting for that. But what happens if it |
| 206 | 00:40:20 --> 00:40:30 | doesn't perfect, starts trading up into the previous day's range, if it went down, as long as it does go crossed half of that previous day's range, the |
| 207 | 00:40:30 --> 00:40:43 | highest probability short is going to exist in the lower half of the previous day's range. And if he can't get one quarter into it from its low, and it starts |
| 208 | 00:40:43 --> 00:40:51 | giving you a breakdown in market structure on lower timeframes, you have all of the hand that needs to be shown to you at the poker table, that this is what the |
| 209 | 00:40:51 --> 00:41:01 | markets about to do, then it will go lower. But retail will see that running up and think, oh, it's going up, it's going up, it's going to go up, it's going to |
| 210 | 00:41:01 --> 00:41:14 | sort of fill in that liquidity void. Bullshit. It's going into price in a short term premium, then you wait for a shift in market structure, which is not a |
| 211 | 00:41:14 --> 00:41:25 | breaking structure, it's a shift in market structure. So many people call them things a break in market structure. No. A shift in market structure. When |
| 212 | 00:41:25 --> 00:41:35 | there's an established bias, or an order flow, or a sell program is entered into the marketplace, and it's been going lower. When it moves against that, all |
| 213 | 00:41:35 --> 00:41:46 | you're doing is building a short term premium. And you're going to wait for the market to shift back into a sell program. It's not a break in market structure. |
| 214 | 00:41:47 --> 00:41:57 | A shifting market structure is a continuation of the existing narrative and or buy or sell program. That's it. That's definition. I want an ICT dictionary. |
| 215 | 00:41:58 --> 00:42:06 | Take fucking notes, because I'm talking about all the time. If you just listen into it eating talking Cheetos, you know it's not going to work for you. Okay, |
| 216 | 00:42:06 --> 00:42:21 | it's just, you know, something listen to, you're not gonna be able to use it. The next tenant is fear. Fear is the lack of journaled case studies, you're |
| 217 | 00:42:21 --> 00:42:29 | fearful that this isn't going to work. It's not gonna work for you. It's work for everybody else I can t can do it. But I know as soon as I get out there and |
| 218 | 00:42:29 --> 00:42:39 | I try to do it. These assholes are going to change the algorithm. I'm gonna waste my time. I'm afraid it's not going to work for me. I have so many |
| 219 | 00:42:39 --> 00:42:44 | problems, students that had that same fear. Get over |
| 220 | 00:42:45 --> 00:42:53 | by back testing and journaling case studies of what you are expected to do when you're trading live, what you're trying to see in price action. And that way, |
| 221 | 00:42:53 --> 00:43:03 | you see how many times it works. How many times that it fail. How many times did it go into a certain measure of drawdown? How many handles had to go against you |
| 222 | 00:43:03 --> 00:43:13 | before it started moving in your favor? How long did it take from your trade entry, using the worst case entry point not the best. And then when it got to |
| 223 | 00:43:13 --> 00:43:22 | your objective, whatever some liquidity would be or inefficient, it would be trading to your target is always going to be the opposing inefficiency. That |
| 224 | 00:43:22 --> 00:43:31 | means a fair of a gap below if you're short. You're looking for an inefficiency to target or you're looking for a low or relative equal lows. So you're looking |
| 225 | 00:43:31 --> 00:43:40 | for sell side or a buy side unbalanced sell side inefficiency. That's your two targets when you're short and how fucking hard is that? That's not complicated. |
| 226 | 00:43:40 --> 00:43:48 | Stop listening is fucking asshats out there saying that I'm overcomplicating? They're out there waiting for a fucking random time when an indicator is |
| 227 | 00:43:48 --> 00:43:55 | supposed to say something. I know exactly what the fuck I'm doing by the fucking minute. Every single fucking trading day. I know what minute I'm gonna fucking |
| 228 | 00:43:55 --> 00:44:04 | trade. I know what time my fucking targets gonna get hit. Don't fucking believe me? Bring your shit. Let's go bring all your fucking indicator horse shit. And I |
| 229 | 00:44:04 --> 00:44:12 | will compare and contrast and roll your ass like a fucking spliff and smoke your ass in front of everybody. Stop leaving comments and these fucking people's |
| 230 | 00:44:12 --> 00:44:26 | channels about me come right here motherfuckers. Fear is easily conquered, easily conquered. Once you go through the process of collecting the resources, |
| 231 | 00:44:27 --> 00:44:42 | and case studies where it worked in the past. And what you're doing is you're training your brain to see these examples. By retention, doing over and over and |
| 232 | 00:44:42 --> 00:44:50 | over again. You're giving yourself pseudo experience. That means that you're seeing something that's already happened, but you're putting annotations to it |
| 233 | 00:44:50 --> 00:45:01 | in a journal and you're really placing a lot of significance on that as if you were there. And because you're making it meaningful to you It's like writing a |
| 234 | 00:45:01 --> 00:45:15 | love letter to your future self. This is what you did so well. And I'm proud of you being able to see this as it happen. Sounds silly. Sounds weird, right? But |
| 235 | 00:45:15 --> 00:45:25 | that's how you have to treat it. You're gonna nurture yourself, and encourage yourself, and be the biggest cheerleader for yourself. And leave no opportunity |
| 236 | 00:45:25 --> 00:45:33 | for anybody to come in and fuck it up. You don't want anybody else's opinion, you don't want my opinion. As much as you think you do. You don't want my |
| 237 | 00:45:33 --> 00:45:41 | opinion. Your subconscious doesn't want to hear from inner circle trader, he doesn't want to talk in here. She doesn't want to hear you don't want to hear |
| 238 | 00:45:41 --> 00:45:53 | anything from anyone. This is your this is your fortress of solitude. No one can hurt you hear your journal is your fucking secret weapon. It's the greatest |
| 239 | 00:45:53 --> 00:46:01 | fucking Trading Book you're ever going to read and you're writing it yourself. You can't make it more intimate than that. It's your experiences, your study |
| 240 | 00:46:01 --> 00:46:12 | time, your focus, where you can be honest with yourself and not be embarrassed about, you know, you need maybe expected something else that day. And you can |
| 241 | 00:46:12 --> 00:46:25 | say it sweetly in annotations without being negative, because your subconscious is gonna retain that. Your subconscious doesn't remember things vaguely. It |
| 242 | 00:46:25 --> 00:46:48 | doesn't do that. It records things that are heightened, whether it by be euphoric, or fearful, extremely pleasant, or painful. Inspirational desperation, |
| 243 | 00:46:49 --> 00:47:01 | there's no middle ground and your subconscious. Everything is reactive. By black and white, good and bad. It's just the way it is. So you have to take that into |
| 244 | 00:47:01 --> 00:47:11 | account when you're training your brain. And this is a very integral part to learning how to do this. You have to condition yourself. That's why you can't do |
| 245 | 00:47:11 --> 00:47:23 | it in a very short span of time. Your brain is extremely complex. It's extremely powerful. And if you feed it the wrong things, it will scare that live and |
| 246 | 00:47:23 --> 00:47:37 | shatter you. And you'll never learn how to do this. Stop forcing it stop rushing it. It has to be meditative. It has to be something you do as a daily ritual. |
| 247 | 00:47:38 --> 00:47:49 | Even on weekends, you have to feed your mind constructive, positive learning case studies where you see these things happening in the past, you're fearful |
| 248 | 00:47:49 --> 00:48:00 | that it's not going to work for you, because you don't know what the fuck you're doing. That's all. That's all it is. I am afraid of heights. I have no shame in |
| 249 | 00:48:00 --> 00:48:07 | saying it. I don't have any control over it. I tried to conquer it, it is what it is. I'm not going up into a fucking perfectly good airplane just to jump out |
| 250 | 00:48:07 --> 00:48:14 | that bitch and say I survived a descent with a parachute on my fucking back that I don't have confidence it may open up and do what it needs to do. That's a |
| 251 | 00:48:14 --> 00:48:24 | level of risk that I'm not willing to take. But that's the equivalent of what you're trying to do. Without any training, you want to go up to the heights of |
| 252 | 00:48:24 --> 00:48:32 | whatever that airplane. Yeah, don't worry about the train. I didn't I didn't come to the training day. I don't know really know where the the ripcord is for |
| 253 | 00:48:32 --> 00:48:38 | the parachute. But I want to get up there and do what they're doing. Because it's going to be fun. You don't know if you're afraid of heights, you don't know |
| 254 | 00:48:38 --> 00:48:47 | if your blood pressure is gonna drop and pass out. You don't know, if you're going to be conscious to do all those things. To survive the descent. You don't |
| 255 | 00:48:47 --> 00:49:01 | know you're gonna have a heart attack. You don't know yourself. I know myself, I'm not fucking going up there. It's as simple as that. So I conquer my fear. By |
| 256 | 00:49:01 --> 00:49:12 | avoiding that situation. The way you conquer your fear about trading is you condition yourself to find the atmosphere, the the conditions, the profile in |
| 257 | 00:49:12 --> 00:49:22 | the marketplace, not market profile in the sense of volume bars turned sideways, you vertically on your chart and have all that bullshit on there. I'm talking |
| 258 | 00:49:22 --> 00:49:36 | about profile and sense like a schematic. Like how the market will behave. Whatever that is for you. Because I mean, you might be as simple as I want to do |
| 259 | 00:49:36 --> 00:49:45 | a classic. By city by day, where you're waiting for the opening. You want to wait for a Judas swing the drop down maybe going into take sell side liquidity |
| 260 | 00:49:45 --> 00:49:52 | out on a lower timeframe or trade into a buy, sell, sell sell efficiency, fair value gap. Then you're buying that with the expectation you're gonna hold it for |
| 261 | 00:49:52 --> 00:50:01 | the entire range. And you'll get out in the last hour trading. And you're going to wait for instances where that can and manifests itself in price. It won't be |
| 262 | 00:50:01 --> 00:50:15 | every day. But you're okay with that. Because you're not out there trying to impress everybody. That's day trading as you being an everyday trader which |
| 263 | 00:50:15 --> 00:50:28 | rolls us into greed. Greed stands for the lack of trust in yourself and or your model. How can that be? If you're greedy? And you're saying that I'm greedy, |
| 264 | 00:50:28 --> 00:50:37 | because I don't have a lack of, I have a lack of trust in myself and or my model? How can I be greedy? Because you want to have a lottery mindset. You |
| 265 | 00:50:37 --> 00:50:47 | think that this stuff works, yes. But it just might be the day that you go in there and try to do it. It might cause you losing money may cause you losing |
| 266 | 00:50:47 --> 00:51:00 | peace of mind, it may cause you, cos, self doubt. And you may blow the account. And you'll hear people out there that never show you that they make money. |
| 267 | 00:51:01 --> 00:51:10 | They'll tell you, you got to push your edge. When you're making money, you got to push your edge keep going and keep going. No, no, no, no, no. I teach |
| 268 | 00:51:10 --> 00:51:22 | plateaus. What is more likely for you to succeed from the bottom of a mountain slope. If it was a completely smooth 45 degree angle up to the peak of it. |
| 269 | 00:51:24 --> 00:51:32 | You're brand new, you just first time you've been there. What's more likely and sustainable for you just start running at the fastest pace that you have. And |
| 270 | 00:51:32 --> 00:51:41 | can do and start to run from the base of the mountain in a 45 degree slope all the way up to the top. You're at the zenith of it you did the very pinnacle at |
| 271 | 00:51:41 --> 00:51:54 | the top, you're at the highest point now. Can you sustain that highest fast pace in that? Chances are no. Think about when people ride the you know, the |
| 272 | 00:51:54 --> 00:52:03 | uncertainty roller coaster with going up to Mount Everest, nobody goes up in a straight shot, they go up for a little while and the level out for a little |
| 273 | 00:52:03 --> 00:52:15 | while. And you have to allow their body to do what get accustomed to that new height. lower oxygen, it's a whole it's a whole process. So when you're climbing |
| 274 | 00:52:15 --> 00:52:25 | your equity curve, and you're getting in, you're trying to find profitability and consistently profitable each day. In the beginning, you think I want to make |
| 275 | 00:52:25 --> 00:52:35 | this much money every single day, this percentage every single day. And when I'm winning in the market still running, don't go back in thinking I gotta get some |
| 276 | 00:52:35 --> 00:52:41 | more out of that. Your model says be done. You don't trust it. |
| 277 | 00:52:42 --> 00:52:49 | You think if you don't push, push, push, push, push, manage, push my edge, get in there and do as much as I possibly can. Because the markets really running, |
| 278 | 00:52:49 --> 00:53:00 | you're losing sight. And you're pushing your entire career into one trading day. That's greed. That's the only reason why that happens. Greed, you think that |
| 279 | 00:53:00 --> 00:53:09 | you're going to make so much more. And that one moment in time, you're thinking to yourself, This is the one that puts me over your fucking trading with Nano |
| 280 | 00:53:09 --> 00:53:22 | lots to trading with micro lots you're trading with one mini. Your life isn't changing. Okay, you're not retiring, you'll still see Carl tomorrow. Don't let |
| 281 | 00:53:22 --> 00:53:32 | this stuff mess with your head, thinking that you have to do something over leveraged over trading, doing more than what's necessary. Your model says take |
| 282 | 00:53:32 --> 00:53:41 | the trade when it gets to your target, be done be content, close the charts and then refer back to it at a later time when you wouldn't be trading. If you can't |
| 283 | 00:53:41 --> 00:53:50 | do that, you don't trust yourself. If you're thinking that way, you shouldn't trust yourself, you have to physically remove yourself from the markets. Leave, |
| 284 | 00:53:50 --> 00:54:03 | don't be around, don't have the app on your chart. I'm sorry, on your phone, don't do it. Or you don't trust your model. People are greedy because they think |
| 285 | 00:54:03 --> 00:54:13 | that their model is only working right then in there. So let's maximize because it might not work in the future. It might stop working. I might not be able to |
| 286 | 00:54:13 --> 00:54:22 | find the same fucking setup that repeats every fucking day, every single week, I might get amnesia and forget that this shit doesn't fucking actually occur every |
| 287 | 00:54:22 --> 00:54:34 | single fucking day. Sounds silly when it said like that. But that's exactly what you're doing. You're forgetting the fact that this stuff repeats. You're |
| 288 | 00:54:34 --> 00:54:42 | forgetting the fact that these things occur at a specific time of the day. Specific days of the fucking week. All these things are repeating phenomenon. |
| 289 | 00:54:42 --> 00:54:51 | They're not random. These are these are things that absolutely are coded. They're there because they're supposed to be there. They are set on a schedule. |
| 290 | 00:54:51 --> 00:54:58 | They're going to fucking happen. It doesn't matter how many fucking people are buying it or selling it on Reddit. They're not going to make the market do any |
| 291 | 00:54:58 --> 00:55:12 | fucking thing. They're going to fall I'll dictum AMC perfect fucking example. But when that herd mentality, we're gonna put the ship into the marketplace and |
| 292 | 00:55:12 --> 00:55:20 | fucking chef, these market makers, these billionaire hedge fund managers went bankrupt. They're fucking laughing at you |
| 293 | 00:55:25 --> 00:55:39 | this is their game. This is their casino, you're not going in there changing shit. You ain't doing nothing. You have to play by the fucking rules. And I'm |
| 294 | 00:55:39 --> 00:55:47 | showing you what the rules are. Some of you are kicking and screaming, saying I'm not going to do it. Okay? don't comply, fail. But don't fucking cry and |
| 295 | 00:55:47 --> 00:56:02 | pitch and say my stuff doesn't work or nobody makes money because look around. We're all here. Raise your hands. And I don't? I don't. How are you doing? I'm |
| 296 | 00:56:02 --> 00:56:12 | doing great. How are you doing? Are you wrestling still? Take stock in what I'm saying here today, folks, I promise you one of these things you're you're stuck |
| 297 | 00:56:12 --> 00:56:22 | on. And that's it. It's that's the thing. It's you. Every single one of these things. I've talked about these four central tenants. That keeps you from |
| 298 | 00:56:22 --> 00:56:36 | trusting and knowing that your model will deliver. It's all you. You. It was me. It will be the person that you see come up in the marketplace. Next, your buddy, |
| 299 | 00:56:36 --> 00:56:43 | your friend, your coworker, your relative that says hey, I want to do what you're doing once you find consistently profitable trading. And they'll have |
| 300 | 00:56:43 --> 00:56:56 | these things, same things that they have to work through. And generally they're in this order. And page impatience, impulsiveness, fear, greed. See greed? You |
| 301 | 00:56:56 --> 00:57:06 | don't really necessarily feel feel greed in the beginning, because you don't you don't know if it can work or not. I don't think that the initial interest in |
| 302 | 00:57:06 --> 00:57:15 | trading and trying to make money is greed. That says morbid curiosity, because we're not really like average people to be willing to put ourselves through this |
| 303 | 00:57:15 --> 00:57:27 | kind of shit. Which is a testimony to a great deal of people that say, you know, traders are weak minded people, they're not even people that are consistently |
| 304 | 00:57:27 --> 00:57:35 | losing. Think about it, think about what they're doing. If they're willing to keep resetting their account, they're willing to put more money into a trading |
| 305 | 00:57:35 --> 00:57:42 | account. Is that a weak person? Fuck, no, that's not weak. That's somebody that's fucking determined. They're just misinformed. They have no idea how to |
| 306 | 00:57:42 --> 00:57:52 | control themselves. And or find a model. If you give them control over themselves. coping skills to help them realize that they are the problem, and |
| 307 | 00:57:52 --> 00:58:04 | you give them a foul model, they will whip the shit out of you. Because they had the tenacity that's necessary in this business. This industry is a vampire it |
| 308 | 00:58:04 --> 00:58:15 | many times sucks the lifeblood out of everyone. They don't want to do it anymore. Don't do it. I had members in my mentorship that paid me never listened |
| 309 | 00:58:15 --> 00:58:23 | to me. Never proved that they were doing anything, never fucking use the insight about what I was saying about the marketplace, the euro was gonna go here, the |
| 310 | 00:58:23 --> 00:58:28 | British pound was gonna go here to dollars gonna go here, it's going to keep going down until it goes here. That's what I do. When I do reviews. I'm pointing |
| 311 | 00:58:28 --> 00:58:36 | to a higher timeframe daily chart, and submit to it. And then I'll show examples of what I did, or what other people have done in the community. And they did |
| 312 | 00:58:36 --> 00:58:44 | something completely opposite. They blow their account and they fucking sent me an email. It's only one person that did this. One person sent me an email said |
| 313 | 00:58:44 --> 00:58:54 | You ruined my fucking life ICT. I did. I did by calling the fucking future before it fucking happened. Made fucking profit on fucking students using the |
| 314 | 00:58:54 --> 00:59:05 | same fucking thing that you listened to at that time. I ruined your life. You're a fucking train wreck. You have to fix yourself. I can't fix that for you. I'm a |
| 315 | 00:59:05 --> 00:59:13 | realist. That's why I talk the way I talk. I know that there are going to be people out here that are going to try to do this stuff and blame everything |
| 316 | 00:59:13 --> 00:59:24 | externally. On me something else the fucking weather whatever it is, you are a warped mind that needs to be fixed. And I don't have the skills or the ability |
| 317 | 00:59:24 --> 00:59:35 | to fix that. That's a head and air syndrome and you had to fix that on your own. I can't do it. I'm not qualified. But once you unfuck yourself, I can make you a |
| 318 | 00:59:35 --> 00:59:41 | profitable student. I can make you a profitable trader. I can make you a fucking millionaire if you just listen to me |
| 319 | 00:59:46 --> 00:59:58 | but if you don't want to listen, you want to stay impulsive and he said it's gonna go here and he's been fucking right about 90 Fucking 5% of the time. But |
| 320 | 00:59:58 --> 01:00:16 | today I think he's wrong and I'm Gotta go in and feed him and then lose your ass. You don't want to own it. You don't want to swallow. That's on you. I'm |
| 321 | 01:00:16 --> 01:00:22 | still sleeping the same way I'm sleeping, living the way I'm living, all my students that are making money and doing what they're supposed to be doing. |
| 322 | 01:00:23 --> 01:00:38 | They're not skipping a beat either. You thought I forgot about you. I didn't forget about you. I think about you all the time. Your audience of one. I've |
| 323 | 01:00:38 --> 01:00:52 | never had anybody send me an email that said, I ruined their life, but you. And it's been a year, and two months or so since you sent that. And I think about |
| 324 | 01:00:52 --> 01:01:02 | you all the time. I'm hoping that you're fixing yourself. Because no excuse now you can see there's people all around the world using what you've learned. And I |
| 325 | 01:01:02 --> 01:01:14 | made it even easier with the YouTube lectures. All that stuff, that 2022 model actually taught that in a commentary in mentorship. But because most people |
| 326 | 01:01:14 --> 01:01:24 | don't take notes, they weren't paying attention. That was already taught, literally spelled out when remember |
| 327 | 01:01:31 --> 01:01:42 | all these things are simple to conquer, but they require time and application and replacing what you are negatively dealing with the positive things I'm |
| 328 | 01:01:42 --> 01:01:54 | telling you to do. And over time. The default response internally is that you won't fall victim to these things. It doesn't mean you won't see or feel the |
| 329 | 01:01:54 --> 01:02:04 | impulses of them creeping in. You'll say I know what this is going to go if I do that. I'm not going to do that. But there will be periods in your life when |
| 330 | 01:02:04 --> 01:02:28 | you're weak. And I'm mentally I'm weak right now. I'm fatigued by my firstborn, almost took himself out. And I wanted a victim yesterday. I got it. But I did |
| 331 | 01:02:28 --> 01:02:40 | something I shouldn't have done. I traded in a time when I should not have traded. I gave myself over to my emotions. And antennae. I'm telling you even |
| 332 | 01:02:40 --> 01:02:51 | though I made money, it doesn't make it right. It doesn't make it right. It's wrong. I should not have done it. And I feel guilty because as an educator as a |
| 333 | 01:02:51 --> 01:03:01 | person, that principle, I know I should not have done that. But I'm at a weekend and I'm not I'm not just please believe I'm not justifying this at all. But I am |
| 334 | 01:03:01 --> 01:03:20 | absolutely human. I have frailties, like all of you. And I'm trying my best to wrestle through this. And one of the things I know I can do very well is going |
| 335 | 01:03:20 --> 01:03:21 | to the market and take from those that don't know |
| 336 | 01:03:26 --> 01:03:38 | so once I did it, reflected on it. I thought to myself, I should have done that. So I'm confessing in front of you today that I beat the fuck out of me yesterday |
| 337 | 01:03:38 --> 01:03:47 | and I feel bad about it. Because I did it at a time when I shouldn't have done it. I was basically drunk not on alcohol. But I had a Bloodlust I wanted to hurt |
| 338 | 01:03:48 --> 01:04:06 | somebody else because I'm in pain I'm scared I'm afraid of my son you know he's out of the woods yet he's getting better but he's not out of the woods so once |
| 339 | 01:04:06 --> 01:04:18 | you get through all this stuff, how do you know your model will deliver? Well, you focus on how how will you engage price that means are you gonna be a day |
| 340 | 01:04:18 --> 01:04:27 | trader? Are you gonna be a swing trader give me a scalper something you think well, I want to be a scalper because I don't feel constantly in marketplace and |
| 341 | 01:04:27 --> 01:04:36 | I want to get in and get out. And I'll be able to avoid losing trades because if I can get them real quick, use these really small timeframes. I teach using 15 |
| 342 | 01:04:36 --> 01:04:49 | Second charts now, you know, that's probably the answer. It's not that's just me being me. You can trade on a daily chart. Trade lesson do probably way better. |
| 343 | 01:04:50 --> 01:05:01 | If it's your personality. I have a very short term attention span. I changed my mind a lot frequently. So that's why I can I can excel and very, very small |
| 344 | 01:05:01 --> 01:05:12 | timeframes, you mean not have that, that doesn't mean you're stupid doesn't mean you're you thick or incapable of trading, it just means that your personality is |
| 345 | 01:05:12 --> 01:05:19 | a little bit slower. At pace, it takes a little bit more information time to figure out what you want to do. Okay, you might be a good swing trader, if |
| 346 | 01:05:19 --> 01:05:28 | you're really fucking indecisive. And it's really taken you a lot to come to the conclusion about what you think the markets gonna do. You're a perfect position |
| 347 | 01:05:28 --> 01:05:36 | trader, it's gonna take a whole lot more things to change your mind about the marketplace. And those words are is closest verbatim as I can get from what I |
| 348 | 01:05:36 --> 01:05:46 | learned from Larry Williams, he nailed that shit when he said that. And I believe that wholeheartedly. And when I applied it to myself, it worked. When I |
| 349 | 01:05:46 --> 01:05:54 | tried to be a long term position trader, it was fucking murderous to me, I couldn't, I couldn't do it. Every little fluctuation in price was driving me |
| 350 | 01:05:54 --> 01:06:07 | nuts. I couldn't, I couldn't stick with it. If you feel that way, you have to apply what your personality is to your trading. And find the approach to trading |
| 351 | 01:06:07 --> 01:06:16 | whether it be short term intraday, scalping day trading, we trade for daily range, short term trading, we're used to weekly ranging you use four hour or one |
| 352 | 01:06:16 --> 01:06:25 | hour charts to time a set up, that would be just like you would expect on a one minute chart for the model 2022, or silver bullet, that same mindset being |
| 353 | 01:06:25 --> 01:06:39 | applied to a four hour one hour chart, you can be a swing trader, they're short term trader there. If you know day trading, you can pyramid using smaller |
| 354 | 01:06:39 --> 01:06:49 | timeframes within that price run and parlayed up to even much more than you'd ever imagine. But you can't do that right away. It's a lot of things you have to |
| 355 | 01:06:49 --> 01:06:56 | learn. But you have to know how you're going to do it. That means how you are going to engage price. Once you understand what you're going to do in terms of |
| 356 | 01:06:56 --> 01:07:10 | how what is it you're waiting for in price? The what we're looking at, for things here, how what, why and when how you're engaging price, that means what |
| 357 | 01:07:10 --> 01:07:21 | your model of engagement is short term trading, scalping, swing trading, position trading. But what are you patiently waiting for? What have you been |
| 358 | 01:07:21 --> 01:07:29 | doing case studies on? What are you conditioned yourself to anticipate in price action? Is it the silver bullet is modelled? 2022 as standard optimal trade |
| 359 | 01:07:29 --> 01:07:42 | entry? Are you looking for breakers? Like what you're looking for, are you looking for reactions to old highs and reversals. So like turtle soup or climate |
| 360 | 01:07:42 --> 01:07:55 | reversal patterns, because you're contracting that's the what? That's that, that model that your model, that's true looking for what you're patiently waiting |
| 361 | 01:07:55 --> 01:08:04 | for, you're not shifting in and out of different things as if he's talked about before. The one thing that you feel drawn to in your studies that makes most |
| 362 | 01:08:04 --> 01:08:13 | sense to you, you're early initial evidence of building an affinity for a specific thing either taught or mentioned. That's the one you start with. It |
| 363 | 01:08:13 --> 01:08:22 | doesn't mean abandoned. And when I release something new, you're hurting yourself when you do that. This is my shit, my creations. And I'm telling you, |
| 364 | 01:08:22 --> 01:08:32 | honestly, if you're dropping, whatever you're working on, every time I present something new, thinking that's the thing that you needed better. You've wasted |
| 365 | 01:08:32 --> 01:08:39 | your time. And you're wasting your your valuable time in developing understanding about pricing yourself. Because the first part of this |
| 366 | 01:08:39 --> 01:08:54 | presentation today is paramount to you ever finding how a model will deliver consistently, you'll be too busy wrestling with yourself. Why? Why, what is it |
| 367 | 01:08:54 --> 01:09:05 | you're doing in price action? What is it that you're doing? That trusts that model? the why behind why price should be doing what it's doing? The narrative |
| 368 | 01:09:05 --> 01:09:15 | is basically what I'm saying. Why should price react this way? Why should it why will it not do this very thing that you're expecting in price. You have to have |
| 369 | 01:09:15 --> 01:09:25 | an understanding narrative, what makes this market likely to behave a certain way. If the market is expected to go lower, you've been anticipating the market |
| 370 | 01:09:25 --> 01:09:33 | going lower on the weekly chart. There's something down there 150 handles below where we're at at the close on Friday. So your analysis on the weekend. If the |
| 371 | 01:09:33 --> 01:09:42 | market opens up you're looking at you're anticipating that it's likely to draw down 250 handles. Okay, that sets the tone for your bias going into the week. |
| 372 | 01:09:43 --> 01:09:53 | Then you want to see how we open on Sunday. Monday morning, see how we traded overnight, what we did in london session and then how we primed for Monday's |
| 373 | 01:09:53 --> 01:10:08 | opening what you will expect to see it is a rally higher, that's rejected. A clear and obvious shift in market structure with a displacement like that has a |
| 374 | 01:10:08 --> 01:10:19 | fair value get easy peasy lemon squeezy. But you don't want that. You want to fucking laser fucking lights and fucking shit flying across your fucking charts, |
| 375 | 01:10:19 --> 01:10:28 | and all that kind of stuff. This is It's entertainment than fuck entertainment. I'm entertaining myself with the fucking money I'm making, okay, I'm at war |
| 376 | 01:10:28 --> 01:10:36 | right now. I'm taking somebody's fucking head off in his marketplace. Everybody that gets in there. It's on the other side of my trade, it's falling on my |
| 377 | 01:10:36 --> 01:10:47 | sword. The why is why this mark is gonna fuck the average person who doesn't know what they're doing. That's narrative. How is this gonna hurt the average |
| 378 | 01:10:47 --> 01:10:57 | retail trader? That's the most succinct, easy, straightforward, no fucking punches held explanation of narrative? Because that's exactly what it's doing. |
| 379 | 01:10:58 --> 01:11:14 | The lesson formed Street money. How is it going to unwind on them? How is it going to remove them? How's it going to take from them? How is it going to stop |
| 380 | 01:11:14 --> 01:11:27 | them out so they can give their feet up on the bus? That's narrative. You can't read a chapter in a book, I can't talk about it in a long winded video or |
| 381 | 01:11:27 --> 01:11:37 | playlist. It needs to be experienced over months, seeing what price does so for today bullshit, don't work. One week book boot camps Don't fucking work. One |
| 382 | 01:11:37 --> 01:11:46 | year is a good foundation. But that's not enough either to be consistently profitable, and that you'll know you'll fucking know that your model deliver. |
| 383 | 01:11:48 --> 01:12:02 | Deliver to who you price is doing whatever it wants to do. It's unaware that you have an interest in taking a trade. You haven't you haven't entered it yet. |
| 384 | 01:12:02 --> 01:12:11 | You're not in the marketplace, you're not part of the open interest right now. You're just in a part of, I'm watching pricing, see what happens. It's not even |
| 385 | 01:12:11 --> 01:12:26 | aware of you. But you have to trust this model will deliver for you. I love all of you as my students I want to see you do all all of you do well. But when I'm |
| 386 | 01:12:26 --> 01:12:38 | in a trade, this is the truth. I don't give a fuck. If you're on the other side of it. I don't care. You made the mistake. You pay for it. That's what your |
| 387 | 01:12:38 --> 01:12:47 | mindset should be. Now I'll leave it to you. You can wrestle with all that moral, you know, bullshit about it. But the bottom line is, is whenever you win |
| 388 | 01:12:47 --> 01:12:57 | whenever you make a profitable trade you have taken from someone. And if that is a moral conflict for you, then you have to figure that out or stop trading. But |
| 389 | 01:12:57 --> 01:13:05 | here we're fucking killers were savages. We're out here we're meat eating motherfuckers vampires sucking the blood out of the retail mindset. We are |
| 390 | 01:13:05 --> 01:13:12 | literally caving their fucking skulls in walking all over their fucking corpse and picking their pockets before we fucking leave. And if you want to say it any |
| 391 | 01:13:12 --> 01:13:20 | other way to make it more palatable for you, then that's your business. But that's just the way it is for me. That's how I look at it. It's barbaric. Yes. |
| 392 | 01:13:23 --> 01:13:31 | But that's how I look at it because I was that motherfucker that got stomped up. In my pockets were picked when I was 20 years old. I know what that feels like. |
| 393 | 01:13:31 --> 01:13:38 | I'm coming back from retribution. I want my reparations motherfucker. Give me my shit with interest. That's how I'm looking at every time I go in there. I want |
| 394 | 01:13:38 --> 01:13:53 | somebody's asked on a silver platter and I'm going home with it. Parading it around that's the that's just the way it is. This is not 401k Fucking |
| 395 | 01:13:53 --> 01:14:00 | investments. Okay, sit back and passively earn income. Fuck that. There's nothing passive. We are aggressively going out there taking it by fucking force. |
| 396 | 01:14:01 --> 01:14:12 | We're waiting in ambush waiting for the ship. Come into our crosshairs step in this fucking vantage point and I'm gonna pounce on your ass. We are predators. |
| 397 | 01:14:12 --> 01:14:24 | Here. We are apex fucking predators. We're not scavenging. We're not going around and picking up what was left. We're not fucking vultures. sit around and |
| 398 | 01:14:24 --> 01:14:33 | watch it and when the real work is done, the carcasses that are left whatever it meets leftover, then they go in and eat on it. Fuck that shit. I want the prime |
| 399 | 01:14:33 --> 01:14:47 | cuts. I want that shit fresh off the bone. Something you vegetarians you're probably squeamish right now. Change it to whatever you want to call it. This is |
| 400 | 01:14:47 --> 01:15:01 | how I think about things. So we talked about how, what and why. But when at a specific time of day on a specific day, calendar and time of day Everything just |
| 401 | 01:15:01 --> 01:15:09 | like your favorite programs, the show billions this came back on. And I, for whatever reason I was unable to keep up with it. I got a painting it was like |
| 402 | 01:15:09 --> 01:15:19 | halfway through the first season. I know it supposed to be a good show and what I what I liked about it, and what I saw was was good. But does that fucking show |
| 403 | 01:15:19 --> 01:15:25 | or any show that you like watching? Just come on whenever it wants to fucking come on random times every day every week, it's something different Fuck no, |
| 404 | 01:15:25 --> 01:15:38 | it's scheduled. Your model is a scheduled delivery. For you. You have work hours, you have a time window. This is one I'm going to work. And when it's |
| 405 | 01:15:38 --> 01:15:46 | done, I turn the shirt off. When billions or whatever show that you like who's watching, does it repeat as soon as it ends, they go right back on and play it |
| 406 | 01:15:46 --> 01:15:58 | again. No, you have to fucking wait until the next time it makes another broadcast of it. Patience is required. you're submitting to a process the |
| 407 | 01:15:58 --> 01:16:09 | process is you're gonna get it spoon fed to you. Here. They're little on their time schedule. That's what the market does. That's all it's doing. And you can't |
| 408 | 01:16:09 --> 01:16:18 | force it as much as you can't wait to see the next thing so and so did this in the closing minutes of the show. I can't wait to watch it. I hope to see this |
| 409 | 01:16:18 --> 01:16:27 | happen. You can't make it. You can't make it play sooner. But you try to apply that mindset to trading. I just took a trade. I made money, man, it feels |
| 410 | 01:16:27 --> 01:16:36 | fucking good. Let me get out and do it again. What are you doing? What the fuck are you doing? That's not your model. That's retail fucking Rick at the driver's |
| 411 | 01:16:36 --> 01:16:53 | wheel. Hello. Hope you're waiting you're talking seatbelt because that's a fucking tree coming. When a specific time of day, in the most refined way, |
| 412 | 01:16:53 --> 01:17:03 | silver bullet 10 o'clock to 11 o'clock, folks, that's 60 minutes out of your 24 hours. You're gonna spend most of it sleeping. I know some of you spend too much |
| 413 | 01:17:03 --> 01:17:18 | time sleeping. But that's a set window of time. It's the 60 minutes 60 fucking minutes of your life. You have to be present. You have to be attentive. And you |
| 414 | 01:17:18 --> 01:17:38 | can change everything in your family tree. Yours and everybody behind you. One hour, one fucking hour can change everything for you. Why are you so anxious? |
| 415 | 01:17:40 --> 01:17:52 | Why are you so confused about what it is you should be looking for? It's going to form between 10 o'clock and 11. every fucking day, it's going to form between |
| 416 | 01:17:54 --> 01:18:01 | three o'clock and four o'clock. Every single day, it's going to form between two o'clock and three o'clock. every fucking day. It's going to form between three |
| 417 | 01:18:01 --> 01:18:15 | o'clock and four o'clock in the morning, every single day. That's four of them now, which one can your schedule your time of living through this existence on |
| 418 | 01:18:15 --> 01:18:24 | the spinning rock? What can you do? Which one can you do? I can't do any of them, I see that I need to be able to trade in Asia, well, then you have to be a |
| 419 | 01:18:24 --> 01:18:36 | long term position trader. You're gonna have to hold the IANA scalp, you're gonna have to trade the daily range. Because you can trade the Asian session, |
| 420 | 01:18:36 --> 01:18:46 | you can do that. But you have to be willing to sit through a lot of shit and be wrong More times than not. So your hit rates gonna be smaller, your opportunity |
| 421 | 01:18:46 --> 01:18:58 | to trade will be more infrequent that you can you can trade that. What do you mean by that? When you're bullish? When the market opens up, and it's in Asia, |
| 422 | 01:18:58 --> 01:19:10 | and you're expecting it to go higher for a series of days, if you get some kind of a Judas swing in Asia than a shift in market structure that's bullish first |
| 423 | 01:19:10 --> 01:19:21 | February gap you get by stop let alone let it go use a small slab as you can do there it is done teach you how to trade Asia I just fucking did. But it doesn't |
| 424 | 01:19:21 --> 01:19:29 | seem satisfying enough. And for some of you that heard that and you think well I want to trade Asia what I'm what do you mean by that? Right? You haven't spent |
| 425 | 01:19:29 --> 01:19:43 | time doing what? Working over that impulsive stage where you have a lack of knowledge of price. All these things is a natural progression through learning. |
| 426 | 01:19:45 --> 01:19:54 | But you're on hurry to skip certain aspects of it. ignore certain things about yourself that are going to be problematic and plague you and be the very |
| 427 | 01:19:54 --> 01:20:09 | roadblock to you being successful or profitable. So with all this said, this is not this is not a winning strategy. What's missing? sound money management, |
| 428 | 01:20:10 --> 01:20:26 | impeccable trade management, there are two topics in and of itself. They're completely in and of themselves two different things. But if you apply that you |
| 429 | 01:20:26 --> 01:20:35 | have a complete, holistic approach to working towards being consistently profitable. And then you will know, you will know, you don't need me to convince |
| 430 | 01:20:35 --> 01:20:43 | you you don't even need a Twitter space to encourage and get your route up, get your fucking feathers off, fluffed up. You won't need that shit. You will know I |
| 431 | 01:20:43 --> 01:20:54 | fucking know. Okay, even though today's a shit day. I don't like to trade these days. I know I can go out there today and make 15 Fucking $1,000 And not even |
| 432 | 01:20:54 --> 01:21:07 | talking try. I can do that. I know I can. I think I can trade the Non Farm Payroll tomorrow and make 15 grand. So today and tomorrow I can make $30,000 Do |
| 433 | 01:21:07 --> 01:21:17 | you have the confidence right now with your model, you have a model I have many models, I know I have a half a dozen of them that will be in there today. And |
| 434 | 01:21:17 --> 01:21:25 | they won't be the 2022 they won't be silver bullet. They won't be breakers. There won't be anything you know about, oh, look at this guy. He's selling them. |
| 435 | 01:21:25 --> 01:21:37 | But I'm not teaching that in my book. I'm not teaching that stuff. That's mine. That's for me and my family. But whenever you understand yourself and you've |
| 436 | 01:21:37 --> 01:21:47 | discovered the model for you, you will know when it will be in price. You will know you'll know when it was likely to form you know that you'll be in front of |
| 437 | 01:21:47 --> 01:21:59 | charts when it's ready to deliver it, you will be anticipating it and when it steps it's asked in your crosshairs, you will gently hug the trigger and take it |
| 438 | 01:21:59 --> 01:22:15 | home you will eat and you eat well. You won't have any emotion about it. You won't feel sorry for the person that lost. You won't doubt that it won't |
| 439 | 01:22:15 --> 01:22:28 | continue. You'll know that you'll be able to do this again. You have a life skill. No one can take it from you. It can't be diminished. But you need to |
| 440 | 01:22:28 --> 01:22:40 | guard it mentally don't let anybody having any conversation about it. Don't live your life on social media presenting everything about what it is that you do. |
| 441 | 01:22:41 --> 01:22:50 | Because what you're inviting is other people's opinion about shit that you knew are not paying their bills. They're not going to reimburse you if you have a |
| 442 | 01:22:50 --> 01:23:04 | losing trading day. What fucking differences that make if people know what you're doing. Be a gray man. They don't know you exist. You get in you get out |
| 443 | 01:23:04 --> 01:23:16 | live your life do what the fuck you want to do how you want to live it because shit is about to get really fucked up. In earning income not getting rich |
| 444 | 01:23:16 --> 01:23:24 | earning income is paramount. One Mini contract |
| 445 | 01:23:26 --> 01:23:36 | with a $50,000 trading account, funded, whatever company out there that's doing, I'm not ripping anybody. I don't have the money to do that I said to you, well, |
| 446 | 01:23:36 --> 01:23:47 | there's ways to do it. Now that wasn't available when I was coming up. And when you do these types of things, and you submit to the idea that okay, 2020 bucks |
| 447 | 01:23:47 --> 01:24:03 | per per handle. And I'm going to go on and on and try to go for 20 to 30 On average, net that a week. If you did that, even taxing it doesn't that do a |
| 448 | 01:24:03 --> 01:24:17 | whole lot in terms of doing damage to the inflation that you're feeling right now. What's it costing you to live to feed you and your family as prices, energy |
| 449 | 01:24:17 --> 01:24:30 | prices, grocery bills, Lord forbid you have a medical emergency or something that takes you to a doctor. All that stuff's costing more money. And it's going |
| 450 | 01:24:30 --> 01:24:43 | to be even more harder to get things. So all that stuff's gonna be a source of stress. But you should be excited about learning this because you're going to |
| 451 | 01:24:43 --> 01:24:53 | have something that the majority of most people aren't going to have hope. You'll have hope. You'll have the ability to know that. Whatever happens at your |
| 452 | 01:24:53 --> 01:25:02 | job, and whenever they say, well, we can't really do anything to raise you up because we can't afford to do any kind of raise now. If you didn't get the |
| 453 | 01:25:02 --> 01:25:17 | promotion you're looking for to make more money. You won't have any grief about that. Because what you're doing is you're building an empire. You don't realize |
| 454 | 01:25:17 --> 01:25:25 | it right now. But you're building a fucking Empire might be working a job right now and doing things you don't like making a little bit of money struggling |
| 455 | 01:25:25 --> 01:25:38 | right now. Everybody's been there. I was there. And it's hard. I know, when you don't have anybody around you, to encourage you. That patch on the backside, |
| 456 | 01:25:38 --> 01:25:48 | come on, man. Don't don't, you're gonna get there. Just keep doing what you're doing. You're doing the right things right now. If you're not doing what I |
| 457 | 01:25:48 --> 01:26:04 | talked about here today, well, guess what, it's gonna be harder for you. It's gonna be a lot more likely to be viewed as impossible for you. If you don't |
| 458 | 01:26:04 --> 01:26:16 | think like this, these pages, okay, these little bullet points that I went through today. If it was mentioned in a book, a breeze right over, it wouldn't |
| 459 | 01:26:16 --> 01:26:32 | give a talk about. It's only impactful when you hear it. When you hear it, you do self reflection. It hits. And you really had to come to terms with this is |
| 460 | 01:26:32 --> 01:26:46 | where I'm doing it wrong. And now I know, that's my area of opportunity is to increase the aptitude in learning. Remove the obstacles for me to learn how to |
| 461 | 01:26:46 --> 01:26:57 | do this. You are the one that can do that. I can't do it. I can't change how you think and what you're doing and what you're holding on to the bad habits, the |
| 462 | 01:26:57 --> 01:27:10 | character flaws. I revealed one to you. You never would have known. You never would have known for people who saw me share that trade in queue. Like, wow, |
| 463 | 01:27:10 --> 01:27:23 | yeah, that's awesome. Yeah, then it comes with a caveat. You don't know that. I'm regretting having taken that trade. You don't know that I wished I wouldn't |
| 464 | 01:27:23 --> 01:27:34 | have turned my charts on. Because you forgot that we're not supposed to be trading. When we're going through grief when we're sick. When we are hurting. |
| 465 | 01:27:34 --> 01:27:47 | When we're in a period of altered state. I guess one could argue I'm always in an altered state, right? Is not like a stone cold, crazy. It's all right. It's |
| 466 | 01:27:47 --> 01:28:04 | okay. Everybody is one time another, he lived on his rock long enough, you will too. And you have people you care about that you raised her love. And her pain |
| 467 | 01:28:06 --> 01:28:15 | may not be with you for the rest of your life. It makes you think about things differently. And I can only imagine if I was using substances like alcohol or |
| 468 | 01:28:15 --> 01:28:25 | drugs, I probably would be in jail, I probably would have done something that I would wish I never would have done. So that's the reason why I don't do it. I |
| 469 | 01:28:25 --> 01:28:37 | don't change my chemistry more than it already does on its own. It's hard enough the rest of what I have here. So I want to leave you with this thought. |
| 470 | 01:28:39 --> 01:28:53 | Recognition is the result of repeated exposure. When you're back testing, and you're journaling, you are literally providing yourself a means of recognition |
| 471 | 01:28:54 --> 01:29:04 | through repetition. So if you only do a little bit of that, that's why you're not getting a lot of understanding or visibility in the right side of the chart. |
| 472 | 01:29:05 --> 01:29:13 | How does ICP know that? How did he know this? And out of these students doing this, he must have taught them something extra. That's the thing. Everybody's |
| 473 | 01:29:13 --> 01:29:22 | trying to sell my shit, the unreleased videos, the only thing that only thing it's in there in that library is the commentary about what was going to happen |
| 474 | 01:29:22 --> 01:29:31 | next. It was already taught in the core content lessons. So if you're a joker out there, trying to sell it and you are a schmuck that's trying to buy it from |
| 475 | 01:29:31 --> 01:29:42 | them. You're wasting your money, because it's all been on the YouTube channel now. There it is. I'm not on Instagram, offering some bullshit mentorships my |
| 476 | 01:29:42 --> 01:29:56 | Instagram has three things on it. That's it, and they're all on unrelated to my personal trading. There are so many people that are going to come forward in |
| 477 | 01:29:56 --> 01:30:07 | November. They're going to pretend to be me, and they're going to rock a lot Other people just just don't know. And that's unfortunate. I don't know how to |
| 478 | 01:30:07 --> 01:30:20 | stop it or keep it from happening, because they're going to come in with these four central tenants to preventing a model that will deliver for them. They'll |
| 479 | 01:30:20 --> 01:30:33 | be impatient, there'll be impulsive, Oh, I gotta buy it. I gotta do this ICTs you're not teaching everything here. I taught you more than you need. More than |
| 480 | 01:30:33 --> 01:30:42 | you need. You have a lifetime of learning with what's already on YouTube. If I never put another fucking video out ever. If I never wrote these fucking books |
| 481 | 01:30:42 --> 01:30:59 | that's coming. You have enough more than enough. But you can't be like my daughter who wants to be a perpetual student. Avoiding adulthood, and personal |
| 482 | 01:30:59 --> 01:31:11 | responsibility by while I'm in school dad, I can only do so much. Now that excuses bullshit. You gotta grow up. You got to take responsibility and do |
| 483 | 01:31:11 --> 01:31:25 | things like an adult and trading. You have to think like a well rounded, responsible, disciplined adult. can't treat like a video game and think well, |
| 484 | 01:31:25 --> 01:31:40 | I'll just respond now. Because every time you think that way, and you do it, what you're inviting is allowance for substandard performance. That's poor, |
| 485 | 01:31:40 --> 01:31:50 | that's poor performance. You don't want to be doing those things you want to do what you have to do to keep your account in good standing. That means don't try |
| 486 | 01:31:50 --> 01:32:01 | to rock it up. Straight up the mountain 45 degree angle slope, it's the highest rate of speed running. You make a little bit of money. Enjoy it. Sit still. If |
| 487 | 01:32:01 --> 01:32:13 | you did it with five contracts only trade with one for a week or so. Because if you made money if your if your largest gain in your account equity curve has |
| 488 | 01:32:13 --> 01:32:23 | just recently happened. You are fucking on goofballs right now you're high. You're not thinking clearly you are not thinking clearly. You might be thinking, |
| 489 | 01:32:23 --> 01:32:35 | wow, this is awesome. I'm waiting, I thought it was or I'm gonna roll them and keep going. And you won't see the curveball coming. And that one little |
| 490 | 01:32:35 --> 01:32:45 | curveball that cause you that small measured appropriate risk that was taken from you as a loss now, it will now start that process of oh, this this killed |
| 491 | 01:32:45 --> 01:32:55 | my whole fucking vibe. This is a buzzkill. I gotta hurry and fix that because I can get back to my feeling good vibration. And then you lose again, because |
| 492 | 01:32:55 --> 01:33:06 | you're being impulsive. Fearful that things are changing in greed cuz you got to get back to that equity, how you just reached. See how that's like all goes |
| 493 | 01:33:06 --> 01:33:17 | through. It happens all the time. You don't get that Mark Douglass's book, you don't get that in any other psychological book out there on trading. This is the |
| 494 | 01:33:17 --> 01:33:25 | real mechanics of how a mindset shifts in profit and loss, winning loss, making money losing money. |
| 495 | 01:33:27 --> 01:33:37 | All these shifts in how you think about yourself and the markets and your model. It's always going to be doing this constant rotation back and forth through |
| 496 | 01:33:37 --> 01:33:52 | these four central tenants. And when you master them, you'll know you will know your model will deliver for you. Because you're not in its way. So that's gonna |
| 497 | 01:33:52 --> 01:34:02 | be it for this one. Hopefully you found something insightful. Hopefully I was encouragement to someone listening. I believe someone had to hear it today. It's |
| 498 | 01:34:02 --> 01:34:14 | good to wash my hands because some of you probably didn't think about. I shouldn't have traded yesterday. And let that be a lesson to you. I feel guilty |
| 499 | 01:34:14 --> 01:34:24 | about making money as the average retail record and see it like that. But you have to be personally responsible. You have to be disciplined. Don't break the |
| 500 | 01:34:24 --> 01:34:34 | fucking rules. The rules are there. I'd feel worse if I would have a loss yesterday if I went home and had $1 Less than a head that would be like a stick |
| 501 | 01:34:34 --> 01:34:47 | in my craw and fucking all up for the whole holiday weekend. I know my model will deliver today. I know my model will deliver on Non Farm Payroll too. But |
| 502 | 01:34:47 --> 01:34:59 | I'm not touching it. Don't touch it either. Just have a four day weekend. Enjoy yourself. And I will be back again on Tuesday with some kind of goodies I'm sure |
| 503 | 01:35:00 --> 01:35:07 | appreciate everything you've been doing for prayers for my son greatly appreciate me and my family love you for that and enjoy your weekend be safe |