045-ict-tw-spaces-2023-09-03-Life-Apart-From-Prop
Last modified by Drunk Monkey on 2023-09-26 13:08
Outline
00:40 - It is a good morning.
- Today's topic is life apart from prop firms, and how some of his students have hung their hopes and dreams on that.
- A hypothetical scenario of a hypothetical scenario.
- Patience is absolutely something that needs to be forged, and if you don't forge it, you'll tap out, because this industry is hard.
- The slow drip is just chinese torture.
04:42 - Funded accounts and how they work.
- Funded accounts started happening, and you started seeing these guys saying they had an ai that was going to make you profitable.
- Having prop firms out there and lower the challenge.
- Yield seekers are constantly looking for people and avenues and opportunities to invest in, and there are lots of different ways to approach them.
- The easiest way to approach people is to make yourself known.
09:15 - Learn how to trade.
- Trading with a small amount of hypothetical capital, and losing sight over that as well, because you want to do over leveraging.
- How to be profitable in this industry.
- Some of you guys are thinking that just because these prop firm companies exist, there is a short way of getting into it, it could happen for you, but you still have to know how to trade.
- A limited partnership is a binding legal agreement and partnership.
14:29 - A good deal is a good deal.
- A limited partnership is a partnership where the owner and the partner are both responsible for the money.
- There are a lot of ways to get to where you want to go.
- Depression can steal the joy, dreams and aspirations about finding success in this trade. It shouldn't, because if you know how to do this, you can still develop this skill online.
- There are people out there that want to sit in live sessions over a chart with someone that knows how.
19:38 - How to become viral.
- He never advertised, spent a penny on advertisement, never ran ads, never did any of that. Everything that you see on his youtube channel is organic.
- He never promised to be viral.
- There is no need to go in and try to buy people's attention, just do what he does and people are going to flock there.
- He wants everyone that is trying to make another income source, whether they like him or not, to listen to him.
24:35 - You should not feel bad about charging money.
- Everyone out there should be trying to do whatever they can to make money, even if it means sharing the analysis with a live account.
- Patrickwhelan is a great example.
- There is nothing wrong with monetizing time, but being honest and staying within the lines and boundaries of compliance is important.
- How to make money in a day.
- It's real money in a real account with amphitheatre cftc regulated broker in the us. It's not off-shore, and it would be illegal to say it was that when it was demo or something else.
- Be honest and tell them you're dealing with demo.
30:54 - What’s the difference between a live account and a demo account?
- Trading in a demo account is taxable when you run a business, which means you have the best tax treatment versus capital gains tax.
- Trading with a broker is not about the commission costs. It's about the contracts and fees and how they're cleared.
- If you have the skill set, you can move and navigate and do lots of different things and find your money.
- Making millions of dollars with the community.
35:31 - Building a community that can monetize.
- If you do that, you can build a community that you can monetize and have no guilt in that. You owe us your time for free.
- Listen when people talk shit, because it goes down the line faster than good news. Good news doesn't travel as fast as bad news.
- Your time is not cheap. Your life is not owed to anybody. If you want to monetize, you are not wrong for doing so.
- Some of you have been imprisoned in your dreams around this one thing. You put all your eggs in one basket.
42:14 - How to trade well.
- If someone knows that they can make more money doing something that they already do anyway, all they have to do is apply a paywall.
- If they do anything with real money, they eat that, then they eat it. They eat that.
- The one thing consistently in someone's hands that no one knows how to do it, and why ict wants to inspire more ict students.
- The charter member model is a ponzi scheme. ict is not a profitable trader. They need to do their due diligence and demand.
47:48 - The problem with prop firm conversations.
- Working for the jewish family in owings mills. The owner's son was involved in a ponzi scheme where he put 5000 hours each in and eventually got a payout of everyone's 5000 hours paid in for that week.
- The prop firms are the equivalent of ponzis.
- If you are a good trader, you can clearly see the effects of compound interest when you just let time do the heavy lifting.
- If you're doing it diversified, take the real money that they're willing to pay out, then put it to work with a real brokerage.
53:48 - Treating trading like a lottery ticket.
- You are trying to treat them like a lottery ticket. You're trying to spend 50 bucks a month for the activation.
- If you get your community up big enough and you really want to do it, you can mention it during your live streams.
- Some of you don't want to go that route. You want the easy push-a-button, get your credit card and get your funding account and just get rich. That might work for some of you, but for most, you won't.
- If prop firms are not the only way, you can do a lot with things outside of trading.
59:50 - It’s not investment advice, but it is.
- It's not investment advice. It's not trying to coax people into taking a buy or sell of any interest or security.
- If you're behind a paywall and they see you can do this consistently, they're not going to stop paying you.
- You might be behind a paywall with that, where you share your analysis or call things as it happens. Give them the access to you without any strings.
- As the market starts to do those things, start pointing out, this was where the market should stop.
01:06:03 - Stay in your lane and avoid drama.
- Stay in your lane, don't create drama, and don't point to anybody else when he talks shit about you. It's an advertisement.
- Avoid all the legal constraints about being a financial advisor. Be likable and have something of value, not drama.
- There is nothing anyone can do about the fact that viewership is monetized and there is nothing anybody can say about it.
- Treat everything like a business and schedule the expectations of your audience members. Try not to do more than what is necessary for yourself.
01:11:56 - How to call it before it happens.
- If you have the goods and you can call it before it happens, there is an army of people out there that are constantly coming into this industry that just simply need to see you as a champion.
- It doesn't matter where you are in the world.
- Try not to put all of your hopes and expectations into one thing, and trading has a multi-faceted, open conduit.
- Mind your own business. Mind your own fucking business.
Transcription
| 1 | 00:00:40 --> 00:01:00 | ICT: It is a good morning. It is a good morning. So I'm sitting here looking around on social media. Everybody's got like this Woe is me. Someone stole your |
| 2 | 00:01:00 --> 00:01:15 | dreams. Someone stole your future, because one company that did things that maybe they didn't, maybe they did that we're not really on the up and up. You |
| 3 | 00:01:15 --> 00:01:25 | have to have their day in court books, charges and accusations and such, are just that until they stick with a conviction. This might just blow over and |
| 4 | 00:01:26 --> 00:01:38 | you'll get to have access to yourself again, or maybe not. I don't know, I don't claim to have the answer to that. But today's topic is life apart from Prop. I |
| 5 | 00:01:38 --> 00:01:54 | don't trade prop firms. I don't have any affiliation with any of them. Full disclosure, my my son, Cameron, he has a three past combined $50,000 Each |
| 6 | 00:01:54 --> 00:02:14 | through top step, which he will be activating this week. So I have very limited, very, very limited it exposure to that side of this industry. And as some of you |
| 7 | 00:02:14 --> 00:02:26 | have hung your hopes and dreams on, that's how you're going to do it. And some of my students actually did it that way. And I want to talk a little bit from |
| 8 | 00:02:26 --> 00:02:39 | the perspective of a hypothetical scenario, okay. Because there's nothing worse than watching people does feel like they're deflated. You know, what's the use |
| 9 | 00:02:39 --> 00:02:51 | now my brother. And I know some of you are in areas in the world where it's very, very hard for you to scrape up money to do anything, let alone get the |
| 10 | 00:02:51 --> 00:03:06 | money to try to get one of these prop firm challenges purchased. So I don't have an answer for everyone just know that I'm not claiming to. But I kind of like |
| 11 | 00:03:06 --> 00:03:22 | hopefully, will remind you and stir up your imagination on how this is not the only way. Like, it's not the only way that you can arrive at your dream as a |
| 12 | 00:03:22 --> 00:03:41 | trader for the life of my mentoring, as an educator, if you knew me back in the 90s I always stressed patients. And when I was on baby pips, I really, really |
| 13 | 00:03:41 --> 00:03:51 | beat them down with making them wait a little bit at a time, a little bit at a time. And they felt and some people still do think that a slow drip is just |
| 14 | 00:03:51 --> 00:04:01 | Chinese torture, you know, where torture would have one drop of water constant keeps falling on your your brow can't move from it. These are people that are |
| 15 | 00:04:01 --> 00:04:08 | habit my way and have it right now. Type students and they can't learn, no matter who teaches some matter what it is that they're going to try to learn. |
| 16 | 00:04:10 --> 00:04:22 | But patience is absolutely something that needs to be forged. And if you don't forge it, you'll tap out because this industry is hard. Because it's all about |
| 17 | 00:04:22 --> 00:04:34 | you competing with yourself. And maybe maybe you sat around for a while and saw people talking about trading for a long time and always dismissed it as well. |
| 18 | 00:04:36 --> 00:04:44 | It'd be interesting if I could do it, but I don't have the money to do it. So I'm not really going to make an attempt to do it. And then funded accounts |
| 19 | 00:04:44 --> 00:04:53 | started happening. And you will be watching my videos or somewhere else or cat videos. And you start seeing these guys say hey, we have an AI that's gonna make |
| 20 | 00:04:53 --> 00:05:02 | you profitable. We're gonna pass your prop firm challenge or we'll keep doing it until you do. Guaranteed terrorists, CNET fucking commercial. |
| 21 | 00:05:08 --> 00:05:17 | And maybe you thought that that was going to be your ticket. That's it for you, you're going in and doing it. Now, let's take that very moment when you decided |
| 22 | 00:05:17 --> 00:05:30 | that that was what you were going to do. That was going to be your pathway to a professionally driven mindset that your income would be derived from your |
| 23 | 00:05:30 --> 00:05:43 | personal speculation. Whether it be in the forex market, or in the futures market. That moment in time, when you were thinking, that's what you were going |
| 24 | 00:05:43 --> 00:06:03 | to do. Did you give it any thought, at that moment? Exactly how you were going to trade profitably and consistently. We say it again. Do you even know how to |
| 25 | 00:06:03 --> 00:06:16 | trade some of you are skipping over this entire elephant in the room, okay? Having prop firm companies out there, and they can lower it down to $10 |
| 26 | 00:06:16 --> 00:06:26 | challenges. It means fuck all. If you don't know how to trade, they could give them away like fucking candy. They won't do shit for you if you don't know how |
| 27 | 00:06:26 --> 00:06:41 | to trade. Which goes back to the lessons I was teaching on baby pips. acquire this skill in doors open up to you that you don't even recognize right now. |
| 28 | 00:06:41 --> 00:06:51 | They're not, they're not even in your thought, at all. But there are people out there that act as angel investors, they want to have someone that knows how to |
| 29 | 00:06:51 --> 00:07:03 | do it. And they will front you, they're going to want a lot more than the split that they give you at these prop firms. Because they're taking all the fucking |
| 30 | 00:07:03 --> 00:07:16 | risk. Here you are walking in there, cowboy and up. You need me now these people have money, they don't need your fucking ass. But they like to get yield. Yield |
| 31 | 00:07:16 --> 00:07:28 | seekers are constantly looking for people and avenues and opportunities to invest in. And there's lots of different ways to approach them. The easiest one |
| 32 | 00:07:28 --> 00:07:48 | is make yourself known. I have had people literally approach me with 10 figures continuously, please, please manage this. Now that's not my interest. I have |
| 33 | 00:07:48 --> 00:07:56 | other people that say, Hey, look, you know, would you be interested in unlimited partnership with me and my brother, we have this much money, it would really |
| 34 | 00:07:56 --> 00:08:06 | help us out, you know, and no, I understand that. There's a hustle on that for them. Because they know there's a skill set here. And they're impatient. And |
| 35 | 00:08:06 --> 00:08:18 | they just want to tap into it right away and have like a passive income, but I'm not anyone's employee. And some of you might have to be that for a little while |
| 36 | 00:08:19 --> 00:08:32 | to get your scratch up to get your your bank roll up. In the 90s I was the type of guy that I put a classified ad in there. Angel investor, limited partnership. |
| 37 | 00:08:35 --> 00:08:47 | Just to get people contact me leads. And sometimes the person that would contact me may not be the person that really wants to do it with me. But they say you |
| 38 | 00:08:47 --> 00:08:58 | know what? This doesn't really fit what I want to do, but I have a friend can I give them your contact information? And then the relationship was formed with |
| 39 | 00:08:58 --> 00:09:11 | them Let's hypothetically say you really did learn how to do this correctly. And that should be your number one priority, not trying to get money, not trying to |
| 40 | 00:09:11 --> 00:09:20 | get rich not trying to pass funded account challenges and all that dumb shit. Okay, that is a later down the road thing. You have to learn how to trade if you |
| 41 | 00:09:20 --> 00:09:34 | don't have a trade. It doesn't matter how many companies fold get shut down or whatnot. Because all those companies you're literally only trading with a small |
| 42 | 00:09:34 --> 00:09:47 | amount of hypothetical capital. And many of you are losing sight over that as well. Because you want to do over leveraging you want to do five contracts on a |
| 43 | 00:09:47 --> 00:10:01 | $50,000 account you want to see 15,000 contracts on 150,000 Our account which is asinine, but it's ludicrous. It's all the guaranteeing you're going to fail. And |
| 44 | 00:10:01 --> 00:10:02 | a payout will not be necessary for them. |
| 45 | 00:10:09 --> 00:10:19 | There are many ways, and I've talked about this in my private mentorship. Where some of the students that came in they piggybacked on a lot of family members |
| 46 | 00:10:19 --> 00:10:29 | came in. Many of them are from Africa, which is, understandably because it's hard for them to find the capital to pay $155 a month, for 12 months and and |
| 47 | 00:10:29 --> 00:10:40 | final payment of $200. It's, it's a lot to ask for someone over there, that doesn't make a whole lot of money. But those were the terms. And they found |
| 48 | 00:10:40 --> 00:10:53 | their way in there. And the question maintained came up was, you know, how can I trade these markets, when we don't have that much money, you have to make your |
| 49 | 00:10:53 --> 00:11:08 | skill set known. Let's assume for a moment that you're consistent, and you're able to take six to 8% down a month, which is absolutely fucking bonkers. In |
| 50 | 00:11:08 --> 00:11:19 | this industry, because most people can't be profitable at all. If you can take down 6% a month, consistently, and grow real content with that, you're doubling |
| 51 | 00:11:19 --> 00:11:34 | whatever equity base, you have 12 months, roll it forward, compounded 6% over 100% You show a track record with that, or you show yourself able to do it how |
| 52 | 00:11:34 --> 00:11:48 | you do that YouTube channel, build a community? Say, look, I'm going to be trading, I'm gonna ask you anything. Just hanging out with me? And let them see |
| 53 | 00:11:48 --> 00:12:02 | what you do. How, how do you manage risk. Some of you're saying I can't do that, well, this is not the avenue for you then. But some of you are thinking that |
| 54 | 00:12:02 --> 00:12:13 | just because these prop firm companies exist, therefore you have a short way of getting into it because they exist. It could happen for me like a lottery ticket |
| 55 | 00:12:13 --> 00:12:23 | winning, you still have to know how to trade. They're not going to give you a certificate and another hypothetical amount of money that ain't real to trade, |
| 56 | 00:12:24 --> 00:12:38 | and then pay you out of fees that are coming in. Just because you want them to. There's a required skill there. And some of you guys get wrapped up in all of |
| 57 | 00:12:38 --> 00:12:46 | the Fanciful things about what could happen for you, and you live vicariously through other people, maybe me, other people, you've seen successful. And for |
| 58 | 00:12:46 --> 00:12:55 | whatever reason, you tap into them, thinking that their success is your success, and you're entertained by it, but you don't really take the steps for yourself |
| 59 | 00:12:55 --> 00:13:04 | to do it. You don't take the risks, you don't put the work in and try to learn how to really do this yourself. Understand what price is going to do and how |
| 60 | 00:13:04 --> 00:13:21 | you're going to engage with it. The the idea of folks that live in impoverished nations, or live in countries that their wages are very, very low. If you looked |
| 61 | 00:13:21 --> 00:13:31 | at what I posted for this Twitter space, the link is a few of them that came in and say hey, look, you know, this is what I'm looking for, like I'm gonna have a |
| 62 | 00:13:31 --> 00:13:42 | magic solution to it. It all goes back to rolling your sleeves up known how to do this. Because if you learn how to do this, and you make yourself known |
| 63 | 00:13:42 --> 00:13:53 | publicly, through a YouTube channel, even if no angel investor, no Limited Partnership person approaches you and says, Hey, look, I've watched what you've |
| 64 | 00:13:53 --> 00:14:02 | been doing. You handled yourself very well. You don't take exorbitant risks. You're not in there trying to do more than necessary. I liked what you're doing |
| 65 | 00:14:02 --> 00:14:11 | that looks like something I'd be willing to invest in. Would you be considering having a meeting with me in regard to a limited partnership, a limited |
| 66 | 00:14:11 --> 00:14:25 | partnership is a binding legal agreement and partnership between you and someone else? They're providing the capital, you're providing the means in which you |
| 67 | 00:14:25 --> 00:14:40 | pick and choose how you're going to do it. And the profits was agreed to. And the account would open up in that limited partnerships name. And you would both |
| 68 | 00:14:40 --> 00:14:55 | be responsible. No one can take this money and run away. And whatever that person that wants to front the money, you expect that they get the larger |
| 69 | 00:14:55 --> 00:15:07 | portion and don't think that that's a real deal. It's not it's actually a Good deal because they're taking on all the risks you aren't there's a lot of that |
| 70 | 00:15:07 --> 00:15:26 | that goes on in the world. Truth be told, when I was younger man I did a lot of favors like that the off the books because I was hiding from a gold digger. And |
| 71 | 00:15:26 --> 00:15:43 | we would meet at Dunkin Donuts. And I get a birthday card frequently. And I had some really nice notes inside of it, just for being a good friend. There's a lot |
| 72 | 00:15:43 --> 00:15:55 | of ways, folks, there's a lot of ways to get to where you're trying to get to. But all of them are going to require effort. And so many of you, even folks that |
| 73 | 00:15:55 --> 00:16:08 | are not even listening to this right now, just look around. They're all thinking it's owed to them. Now you, you companies, this, you owe us the opportunity to |
| 74 | 00:16:08 --> 00:16:18 | do this. You're assholes for not doing it for us, if you shut down in our area, because they're trying to mitigate risk as they should. Because whatever comes |
| 75 | 00:16:18 --> 00:16:37 | from this one company's misfortune or compounds, they're come up, it's maybe deserved. Maybe not, I don't know. Everything is settled when you're in the |
| 76 | 00:16:37 --> 00:16:51 | court. Everybody has an opinion until the final outcome. And this might blow over. This might also just be the instigation of whites, sweeping regulations. |
| 77 | 00:16:51 --> 00:17:13 | And you all have access to this stuff, still. But what happens if you can't? There's your life and there's depression. creep in and steal your joy and your |
| 78 | 00:17:13 --> 00:17:23 | dreams and your aspirations about finding success in this. It shouldn't. It shouldn't. Because if you know how to do this, I don't care if you're making |
| 79 | 00:17:24 --> 00:17:39 | $10. And that's a lot of money to you. If you're in a different country. And it's like that for you. You still can develop this skill, go online. The people |
| 80 | 00:17:39 --> 00:17:48 | don't give a flying fuck how much you're making in your country, or what you're making in your own trades, they don't really care. There's more people out there |
| 81 | 00:17:48 --> 00:17:57 | that just want to find someone that knows how to see what's going to happen before it happens. And share it before it happens. So they can mimic it. They |
| 82 | 00:17:57 --> 00:18:06 | have little thimble sized fucking brains, they just want to be a follower, not an independent thinker. They just want to find someone to pair it after to |
| 83 | 00:18:06 --> 00:18:15 | mimic. If you learn how to do this well, and you conduct yourself in a professional manner responsibly. And you make what you're doing or about to do |
| 84 | 00:18:15 --> 00:18:27 | noon publicly, just basically the only YouTube channel. You can grow that a monetization. That right there is maybe the way you get your scratch, your |
| 85 | 00:18:27 --> 00:18:45 | bankroll, your ability to fund an account. And it's residual. It takes time. It took a couple years for my child to catch up and start doing I didn't put videos |
| 86 | 00:18:45 --> 00:18:55 | up for a long, long time. I always knew if I started teaching the things I know it would be very sticky and people would come back to it. And it's going to be |
| 87 | 00:18:55 --> 00:19:05 | really sticky. Next year, because I'm not going to be jawboning it's going to be, here's what I think the marks gonna go. This is where, and this is why. And |
| 88 | 00:19:05 --> 00:19:13 | we'll come back later on and review it and I'll give it to you in the pm session. The chart will already be dressed, five minutes probably is going to be |
| 89 | 00:19:13 --> 00:19:23 | more than necessary. Short right to the point because I want my son's to be able to focus on what it is they should be looking for that day. There are people out |
| 90 | 00:19:23 --> 00:19:36 | there that want to sit in live sessions over a chart with someone that knows how to do it. They will spend their whole life there if you're good. And if you're |
| 91 | 00:19:36 --> 00:19:47 | good. You're going to do just like they did with me. I never advertised I never spent one penny on advertisement. I never ran ads. I never did any of that. |
| 92 | 00:19:47 --> 00:19:54 | Everything that you see with these 800 and some 1000 followers on my YouTube channel with absolutely honored and blessed. Thank you. It's crazy to see how |
| 93 | 00:19:54 --> 00:20:03 | fast it's growing. But that's all organic based on the things that people see they learn it Talk about it. You become viral? |
| 94 | 00:20:04 --> 00:20:13 | Are you doing things in your life right now as a developing student in the markets as a trader? Are you doing things that would make you viral if people |
| 95 | 00:20:13 --> 00:20:27 | started seeing what it is that you do? If not start there? Are you really, really good about managing risk? Are you really, really good at determining what |
| 96 | 00:20:27 --> 00:20:28 | the trading biases |
| 97 | 00:20:35 --> 00:20:47 | recently, I've been showing you trades with a live account that was never owed to you. None of you really. I never promised that I would sit down in front of |
| 98 | 00:20:47 --> 00:20:55 | any of you and say, Here, watch me trade live funds right here in front of you. I've never said I would do that. My private mentorship were never offered that |
| 99 | 00:20:55 --> 00:21:05 | they signed agreements, knowing that that was never offered to them. It was always demo. And I made a multi multi multi, multi multi million dollar empire |
| 100 | 00:21:06 --> 00:21:20 | on a fucking demo account. And you're sitting here wondering if you can do it. If you have a skill set, it does not matter. It does not matter. If you can |
| 101 | 00:21:20 --> 00:21:32 | garner an audience, and you respect that audience, and you nurture that audience with information that they will find valuable. That's going to help them they |
| 102 | 00:21:32 --> 00:21:43 | will keep coming back. And when you make a lasting impression on them. They will tell other people and you don't ever have to pay for YouTube ads, Facebook ads, |
| 103 | 00:21:44 --> 00:21:54 | TV ads, and whatever, whatever you want to say, in terms of advertisement, I've never advertised. There's no nessa there's no necessary reason for me to go in |
| 104 | 00:21:54 --> 00:22:04 | and say, let me buy people's attention. When I know all I got to do is do what it is I do and people are going to flock there. I know how to start a fire, but |
| 105 | 00:22:04 --> 00:22:14 | dumpster fire. I know how to cause a spectacle. I can bring controversy. I can twist the knife and get trolls chattering. All that stuff. It's all showmanship. |
| 106 | 00:22:16 --> 00:22:31 | But you don't need all that. You just need to do one thing real, real good. And just because I'm doing what I'm doing for free. I want everybody that's out |
| 107 | 00:22:31 --> 00:22:43 | there that's trying to make another income source. Whether you like me or don't like me, I want you to listen to me, okay? And I mean this sincerely. Just |
| 108 | 00:22:43 --> 00:22:56 | because I am willing to give my stuff away for free, give my time away for free, educate for free, make videos and analysis and call things online on Twitter |
| 109 | 00:22:56 --> 00:23:10 | point out stuff beforehand, just because I'm willing to do that for free. Doesn't mean that all of you that are running businesses are less. When I bark |
| 110 | 00:23:10 --> 00:23:21 | back, and I talk outwards about you know, this Yes, I can trade with life money, real real funds, I can trade with real money, it's the same shit that's in a |
| 111 | 00:23:21 --> 00:23:31 | demo account. The only difference is that money is taxable. But I can see what price is going to do before it happens. If you have a skill set, if you have a |
| 112 | 00:23:31 --> 00:23:46 | service. You don't owe anybody anything for free. Nobody does. I don't owe you my time for free. So if you have another service and your quote unquote |
| 113 | 00:23:46 --> 00:23:55 | competition, or you or you try to come over here, and you want to wipe your shoes off on my doormat, try to cause us think or whatever. That doesn't really |
| 114 | 00:23:55 --> 00:24:07 | work well. Because it's just going to look like you are wanting attention for people to buy what it is you're offering. And I want you to hear it from me, |
| 115 | 00:24:07 --> 00:24:18 | okay, it's coming right from me. You don't owe anybody anything for free. If you worked hard for something and you have a skill set, you have a service that is |
| 116 | 00:24:20 --> 00:24:32 | worth having worth using has value in it. You don't owe anybody just because I'm doing it for free. If someone says oh, well, you know, ICT is doing it for free. |
| 117 | 00:24:33 --> 00:24:42 | You know who you are doing this and doing that. You're charging money. You shouldn't feel bad about that. You're running a business and everybody out there |
| 118 | 00:24:43 --> 00:24:50 | has an opinion. They they still find fault in me even though I'm calling it before it happens, sharing the analysis down dealing it with a live account, and |
| 119 | 00:24:50 --> 00:25:03 | it's just called Lucky. So you're not going to be able to please everyone but everybody out there should be trying to do whatever they can to make money. I |
| 120 | 00:25:03 --> 00:25:14 | don't need to. And that's not to brag, it's not to square up in size anybody else, it's just, I feel led to do it this way, I think I'll be more impactful. I |
| 121 | 00:25:14 --> 00:25:28 | think the attention span will be a little bit better because there's nothing for them to lose. And now it's all upside. And it can go at their own pace. So it's |
| 122 | 00:25:28 --> 00:25:37 | important for, for people to understand that and even if you're a person that came out, and you've been doing things for free, and you promised the public, |
| 123 | 00:25:37 --> 00:25:48 | perfect, perfect example, Patrick Whelan. Hi, Pat, I know you're listening. The idea of what he's doing right now, some of you probably don't like that. I |
| 124 | 00:25:48 --> 00:25:56 | already knew was coming. I knew years ago, looking at some of the videos, he would pop up because used to be a troll of mine. He said, I ain't doing this, |
| 125 | 00:25:56 --> 00:26:05 | I'm not selling mentorships I'm not doing this, as soon as someone's doing that. But they're really, really, really trying to build an audience. They don't know. |
| 126 | 00:26:06 --> 00:26:13 | If they really want to, they're just testing the waters. And if they can get a larger audience and engagement, they know that they can fall back on that it's |
| 127 | 00:26:13 --> 00:26:24 | hard times come in the markets don't really deliver. That's an easy cash flow. Man, it's easy. Like it's a lot, a lot of money that can come in just like that. |
| 128 | 00:26:27 --> 00:26:37 | But it's extremely stressful. So if you decide that you want to start monetizing your time, there's nothing wrong with that. There's absolutely nothing fucking |
| 129 | 00:26:37 --> 00:26:44 | wrong. I just bite back when people talk shit about me. And I'm like, Look, dude, what do you what do you got to say about me, I'm, I'm not charging anybody |
| 130 | 00:26:44 --> 00:26:55 | any money. And I'm producing. I'm showing fruit with other people that can do this. If you do that. You're blameless too. And nobody's here to talk shit about |
| 131 | 00:26:55 --> 00:27:02 | you. But if you want to monetize your time, they're gonna fucking person, one that can justify why you shouldn't |
| 132 | 00:27:08 --> 00:27:18 | Your time is owed to no one. And if you learn this skill set, you can operate a YouTube channel. absolutely fucking legal. And nothing's going to stop it. As |
| 133 | 00:27:18 --> 00:27:28 | long as you're out there shenanigans, saying you can't ever lose. You got to be honest, you got to tell people hey, look, you're gonna lose. But this is how you |
| 134 | 00:27:28 --> 00:27:40 | navigate. Even if you do lose, you do this. And always, always stay within the lines and boundaries of compliance. That means the proper risk disclaimers, you |
| 135 | 00:27:40 --> 00:27:56 | just can't get up there and put something that's misspelled. I mean, these watchdog agencies are serious. They have unlimited funds on limited time. And if |
| 136 | 00:27:56 --> 00:28:13 | you make yourself a nail, there'll be that hammer. But you could have literally like, I don't ever have to ever take a trade ever again. Think about that. I |
| 137 | 00:28:13 --> 00:28:22 | don't ever have to do that. But clearly, you can see I can clearly you can see I can make with YouTube pays me in a day, would they pay in a month I can make |
| 138 | 00:28:22 --> 00:28:22 | that in a day. |
| 139 | 00:28:27 --> 00:28:38 | That's not bullshit. That's not demo dollars. It's real money in a real account with amphitheatre CFTC regulated broker in the US. It's not offshore. It's |
| 140 | 00:28:38 --> 00:28:46 | absolutely legitimate. And it would be illegal for me to say it was that when it was demo or something other and it's not, I don't take those risks. Folks, I |
| 141 | 00:28:46 --> 00:28:57 | don't do that. That's why I've always taught in demo. But you can literally go out there and never trade with a live fucking account. And literally, trade with |
| 142 | 00:28:57 --> 00:29:05 | just a demo in front of people. Just be honest and tell them I'm dealing with demo. Because I'm protecting myself. And I'm protecting you. If you decide to |
| 143 | 00:29:05 --> 00:29:14 | take these same setups that I'm doing with this demo account, you're doing it on your own, you're doing it with your own money, you're taking that risk on |
| 144 | 00:29:15 --> 00:29:22 | yourself, you're taking on that with that sole responsibility. You've done that I've not instructed you to do that. Never tell anybody to go to a brokerage |
| 145 | 00:29:22 --> 00:29:33 | firm. Never act as an intelligent introducing broker. You dodged so many fucking problems when you do that. But the problem is it's easy money. Affiliate, fuck |
| 146 | 00:29:33 --> 00:29:42 | affiliate. No, thank you. Everybody wants to be an affiliate with me. I don't want to be an affiliate with anybody else. And that's not arrogance. It's just |
| 147 | 00:29:42 --> 00:29:50 | It's how I conduct business. I don't I don't want to be a partnership with anybody because can you imagine? Can you imagine if I would have been out there |
| 148 | 00:29:50 --> 00:30:05 | repping this company My hands would be tied to it somehow. And it's not I have no affiliation with anything. And just because I clear through amp futures, |
| 149 | 00:30:06 --> 00:30:07 | doesn't mean you should trade with them. |
| 150 | 00:30:13 --> 00:30:23 | No broker is perfect. And you need to be honest, if you have a subscriber base, or a follower, group and community, if you want to call it that. Just be honest |
| 151 | 00:30:23 --> 00:30:37 | with them. You're not in that position to lead them into real risk. But if you have something that works, believe me, I crammed it down everybody's throats and |
| 152 | 00:30:37 --> 00:30:48 | literally called myself and coined the term demo baller, I was that guy, I coined that term. That was my fucking name on Twitter. That way, nobody, nobody |
| 153 | 00:30:48 --> 00:30:57 | took what I was doing. Had a context. And everybody wouldn't be upset, oh, you're just a demo board. Yep. And I loved it. Because all I gotta do is |
| 154 | 00:31:00 --> 00:31:14 | different tab. Now here's a Live account. What's changed? Now it's taxable. When you run a business, listen to this. Now, folks, when you run a business, in a |
| 155 | 00:31:14 --> 00:31:29 | demo, you're doing demo trades, you're doing demo results, you have the best tax treatment there. Versus capital gains tax. You can't write off cars and things |
| 156 | 00:31:29 --> 00:31:39 | like that, with your trading profits, like you can do with a company that's outside of that. Just like you can't claim your your commission costs. As a |
| 157 | 00:31:39 --> 00:31:49 | trader, you can't claim that you gotta eat it. And so when you make a big deal, but in the Commission's, if you look at commissions as something that is |
| 158 | 00:31:50 --> 00:32:01 | terrible, and it's unfair to you, you don't have if I can trade, I will always outpace commissions. If I trade as much as I want, I can be spending CIT five |
| 159 | 00:32:01 --> 00:32:11 | figures a month, easy in commissions, but I don't look at it, just like you know that they take out FICA, they take out federal, they take out Medicare, all |
| 160 | 00:32:11 --> 00:32:20 | those little fucking things in your paycheck, they take that stuff out. You know, that's not your money. When I'm taking a trade down, and real money, Live |
| 161 | 00:32:20 --> 00:32:29 | account trading. I'm not thinking about, okay, they took this many contracts and fees, and I got to play the NFA fee. And I got to do this, and I gotta do that. |
| 162 | 00:32:29 --> 00:32:39 | I don't, I'm not worried about that. Because I have a model that well paste that stuff. There, they're clearing for me. They this was the agreement, when I |
| 163 | 00:32:39 --> 00:32:45 | signed it with that broker, whenever you sign up with a broker, the commission costs are this, you knew what they are when you go in. She can't be mad when |
| 164 | 00:32:45 --> 00:33:01 | you're paying it. But you have all of these advantages by doing things outside of real market risks. And some of you for years have tried to troll me thinking |
| 165 | 00:33:01 --> 00:33:08 | that you're fucking smart. And I've laughed at this whole show with you. You literally have no idea what you're doing. You're financially illiterate. If you |
| 166 | 00:33:08 --> 00:33:22 | told me you're stupid. I did something that nobody else has ever done before. And I can still do it with a live account. If you have the skill set, you can |
| 167 | 00:33:22 --> 00:33:33 | move and navigate and do lots of different things and find your money. Who's honestly think about for some of you, you need to hear this. Who says you have |
| 168 | 00:33:33 --> 00:33:49 | to be trading with real money and get your money that way for you to be successful. Who says that? People aren't lying. Your buddy, someone you told at |
| 169 | 00:33:49 --> 00:34:01 | work yourself conscience, telling you how you discipline me you got to do like making millions of dollars with the community asked as Patrick Whelan if he |
| 170 | 00:34:01 --> 00:34:11 | fucking regrets going into some kind of a business opportunity now. He's got more money he's ever had before in his life. Look, you can see it. You'll see a |
| 171 | 00:34:11 --> 00:34:19 | little bit tired now because he's probably doing a whole lot more things than he did before. But you think he's worrying about money like he did before he |
| 172 | 00:34:19 --> 00:34:30 | started that he's not in the 1200 people that he got right there. That's minuscule. That's nothing. That's nothing. If he kept going when he was doing |
| 173 | 00:34:30 --> 00:34:40 | there's, there's an audience member. I like his character. It's not supposed to be pretty. It's not supposed to be Mr. Rogers. That's why I like him. It's it's |
| 174 | 00:34:40 --> 00:34:53 | funny. I like watching it. There's an audience for everything out there. And you got to find where your niche is. Where's your audience, your audience. If you've |
| 175 | 00:34:53 --> 00:35:10 | watched I've transitioned over the years in and out of different areas. different demographics, different age brackets, I've been in all of it. And when |
| 176 | 00:35:10 --> 00:35:23 | I talk, I try to talk in a way where we're old friends. Not stuffy not? Well, for some of the younger folks, it sounds condescending, because they're not used |
| 177 | 00:35:23 --> 00:35:34 | to having anyone, discipline them. But you need to know your audience. And if you do that, you can build a community that you can monetize, and absolutely |
| 178 | 00:35:34 --> 00:35:44 | have no guilt in that. And anybody that bitches about that, because you owe us your time for free. If you're so easily accessible to go in there and trade this |
| 179 | 00:35:44 --> 00:35:58 | and trade that. Would it be so wrong for you to go out and say, I live in a nation where it's hard for me to raise this kind of money. And I'm doing this so |
| 180 | 00:35:58 --> 00:36:10 | that way I can make money. But you just give me the time to prove that I have something of value. And I believe that you'll find value in it enough to support |
| 181 | 00:36:10 --> 00:36:25 | me. And if you don't, it's okay. Some of you are afraid to do that. Like that's somehow like begging, when it's not. You're providing a resource for free for |
| 182 | 00:36:25 --> 00:36:32 | other people to see what you can do and how that might be impactful for them. And it cost them nothing. But the time it takes just take a free look at it. And |
| 183 | 00:36:32 --> 00:36:41 | he may warm up to you, they may find that you are someone that they can resonate with. And if that happens, and you're not trying to be exorbitant in terms of |
| 184 | 00:36:41 --> 00:37:02 | what you charge that will be a good relationship. They will have a mentor in you a resource in you, a trader to emulate. And you're in a demo completely |
| 185 | 00:37:02 --> 00:37:12 | protected. You've disclosed the upfront. There's no performance anxiety necessary. You don't have to keep up with anybody else's results. Who cares |
| 186 | 00:37:12 --> 00:37:24 | who's talking about you on their live stream? That's all free publicity? Listen, when people talk shit, that's the easiest thing to get going. Because it goes |
| 187 | 00:37:24 --> 00:37:32 | down the line faster instead of saying something real positive. Good news doesn't travel as fast as bad news. And if you if you stir up drama, just be |
| 188 | 00:37:32 --> 00:37:44 | prepared to have to fight that continuously. And I'm okay with that. But you might not want that avenue. So it's going to be a little bit slower pace. So you |
| 189 | 00:37:44 --> 00:37:54 | have to again, pick your audience. But you do not absolutely need these prop companies to make money. You don't. If trading is your passion and you want to |
| 190 | 00:37:54 --> 00:38:07 | do it well. First learn how to trade well. Because if you can do this, so our community and you get well known for doing that, in your inbox, you will be |
| 191 | 00:38:07 --> 00:38:16 | getting offers from people that you've never met before. And they will be talking about numbers that you've never put your hands on before. They will give |
| 192 | 00:38:16 --> 00:38:29 | you offers and offers and offers and offers and offers. And it might become so pleasant for you. For you to say, I appreciate this offer. But I'm going to |
| 193 | 00:38:29 --> 00:38:40 | respectfully decline. I'm doing very well what I'm doing right now, because you're not incurring any risk. Think about that. If you're honest with your |
| 194 | 00:38:40 --> 00:38:53 | community, they are coming to you to see what you tell them is going to happen in price. And if you're good at it, you have something they want. You have |
| 195 | 00:38:53 --> 00:39:07 | something that they don't have the patience to sit down and try to learn your time is not cheap. Your time your life is not owed to anybody. So if you want to |
| 196 | 00:39:07 --> 00:39:16 | monetize that you're not wrong for doing so or wanting to just because good ol ICT wants to sit around and be everybody's best fucking friend on the cheap and |
| 197 | 00:39:16 --> 00:39:29 | free doesn't mean that you're obligated to do that too. And it doesn't mean that you aren't worth or have value or don't have value rather. I'm in the autumn of |
| 198 | 00:39:29 --> 00:39:41 | my life. And I want to do things a little bit differently. If I was 20 I'd be charging 400 hours a month. And I'd be sitting there calling the market behind a |
| 199 | 00:39:41 --> 00:40:01 | paywall. There you go. I'm not 20 anymore. My choices about things are different. And some of you have been imprisoned your dreams around this one sole |
| 200 | 00:40:01 --> 00:40:10 | thing, you put all your eggs in one basket, the prop firms only way to go. Not even probably even equipped with the skill set to know how to trade. If you have |
| 201 | 00:40:10 --> 00:40:12 | that skill set, I promise you, |
| 202 | 00:40:13 --> 00:40:23 | you will not feel like you feel if you feel demoralized and and feel like all your dreams are crashing down. Because if Prop firms get pushed aside, and they |
| 203 | 00:40:23 --> 00:40:34 | are no longer a thing, and I don't know if they're going to do that, I'm not saying I do or do not, no, I don't. But if you have that thought process right |
| 204 | 00:40:34 --> 00:40:50 | now, and you've had all of your hopes and dreams hung on this, you did it wrong. And you need to be told that and you receive it with a good spirit. And not |
| 205 | 00:40:50 --> 00:41:02 | being mad about if it happens. That's not the end of it. That's not the end of the road for you. There's so many other ways to do this. But it has to go back |
| 206 | 00:41:02 --> 00:41:15 | to square one, which is knowing how to trade. Because if you know how to trade you can get out there. Navigate through price in front of everyone and be free |
| 207 | 00:41:15 --> 00:41:26 | of any anxiety about anybody expecting you to show them how much money you made. If you do it wrong, did you lose anything? No. They'll see you lose. They're |
| 208 | 00:41:26 --> 00:41:37 | gonna watch how you navigate that. How will you deal with that? Maybe have a model that teaches you to follow good sound impeccable risk management, not over |
| 209 | 00:41:37 --> 00:41:49 | leveraging, trying to get it back real quick. How you think about it at the time. If it's the proper mindset, they will love you for that. And they will be |
| 210 | 00:41:49 --> 00:42:01 | there the next time you're on air live again. And if you monetize that, you shouldn't feel any shame in that at all. Your times not owed anyone |
| 211 | 00:42:06 --> 00:42:19 | the people that bitch about that kind of stuff. Oh yeah. If you're so good at trading market you trade? Why don't you just trade? Well, if someone knows that |
| 212 | 00:42:19 --> 00:42:31 | they can make more money doing something that they already do anyway. All they have to do is apply a paywall. Does that make them stupid, or smarter. I'm gonna |
| 213 | 00:42:31 --> 00:42:43 | submit that makes them smarter. But you want because you've seen me and maybe other people do things for free. And it feels good to do it for free. And maybe |
| 214 | 00:42:43 --> 00:42:51 | in time, you know, you'll get to the point after making money and, and doing it for length of time and you feel like you know, I just want to give back. And you |
| 215 | 00:42:51 --> 00:43:04 | just start doing things for free too. You don't have to. Nobody says you have to, you know an asshole because you charge for your time, your time is valuable. |
| 216 | 00:43:06 --> 00:43:20 | And you have a skill set and your ideal pattern in life, that seek a luxurious lifestyle and a fluent lifestyle and you want to do it through the markets. You |
| 217 | 00:43:20 --> 00:43:34 | don't have to necessarily do it through trading with real money. There's so many ways to monetize yourself and have zero risk. Who's really smarter hear the |
| 218 | 00:43:34 --> 00:43:41 | people out there saying I gotta trade with live money in front of people where other people may pattern what they're going to do with their money. And if I |
| 219 | 00:43:41 --> 00:43:55 | lose, they're gonna lose that means I caused them financial harm, it's compounded loss inviting trouble that you don't want. Whereas if you do what a |
| 220 | 00:43:55 --> 00:44:06 | demo they know it's demo. If they do anything with real money, they eat that then fucking selves spoonful, what a time swallow. You did that to yourself. |
| 221 | 00:44:08 --> 00:44:18 | That's exactly why I was always in demo. That's exactly why everybody signed up for our mentorship. The first thing they ever did was read that they signed it. |
| 222 | 00:44:20 --> 00:44:36 | They knew and your audience needs to know exactly what you're doing. If you do that. You're golden. handle yourself responsibly. Don't promise them the pie in |
| 223 | 00:44:36 --> 00:44:46 | the sky dreams of they're going to make millions of dollars. We're learning how to read price. That's exactly what I marketed as a mentorship. You're going to |
| 224 | 00:44:46 --> 00:44:55 | read price, you're going to know what price is going to do. Does that mean you can trade now as a skill set you have to develop on your own. Which one of the |
| 225 | 00:44:55 --> 00:45:05 | models are you going to stick with which pdra going to base your trades on For some of you, you'd like one thing? Well, that's wonderful. There's a lot of |
| 226 | 00:45:05 --> 00:45:14 | people out there that want to know what one thing looks like consistently in someone's hands that no one knows how to do it. Well. Some of you're thinking |
| 227 | 00:45:14 --> 00:45:24 | yourself, please, please let this Twitter space inspire more ICT students because this is harder than I want it to be. I'm not as disciplined as I thought |
| 228 | 00:45:24 --> 00:45:32 | it would be. And if I can find someone, I get emails all the time. Hey, ICT, can you put one of your best students in contact with me? I would really like to |
| 229 | 00:45:32 --> 00:45:42 | have someone sit down with me. I get that every single fucking week, every single week. Which is why I always tell you there are people out there that |
| 230 | 00:45:42 --> 00:45:53 | right now say their charter members. Oh, yeah, I'm an ICT charter member. That doesn't mean dick. It means nothing. It means they made all their payments, it |
| 231 | 00:45:53 --> 00:46:02 | doesn't mean that they are super fucking smart. And they can do what I do. It just means they went through the payment structure. All the payments were made. |
| 232 | 00:46:02 --> 00:46:11 | And now that's it. They have, they have a way of contacting me. And I can contact them in a private setting. And nobody can join that. And there's no |
| 233 | 00:46:11 --> 00:46:22 | videos being made there is interactions and if they have a question, or if I prompt them to do this or do that. But it's not trades, I'm not telling him what |
| 234 | 00:46:22 --> 00:46:33 | to do with trading. But there's a lot of people out there will claim that they're a charter member. Like that means something like automatically makes |
| 235 | 00:46:33 --> 00:46:43 | them a profitable trader, it doesn't. So if they're trying to sell a service in their market themselves as a charter member, you need to do your due diligence |
| 236 | 00:46:43 --> 00:46:54 | and demand, they show that they can do this in front of you openly. Call it before it happens execute with a stop loss. Who cares if it's a fucking demo? |
| 237 | 00:46:54 --> 00:47:07 | Who cares? Who cares about that? That's just an argument point for people to have a service of their own something they're selling. Or they just want to see |
| 238 | 00:47:08 --> 00:47:20 | other people dance, because they're nobody in life. But your time is owed to no one. And all of your hopes and dreams should not be hung on the fact of this |
| 239 | 00:47:20 --> 00:47:32 | prop firm model that is still here now, but it might not be in the future. Or it might be just with a much more stricter regulation applied to it, which I'm |
| 240 | 00:47:32 --> 00:47:48 | hopeful for. Even though Yeah, it is a fucking Ponzi scheme. It really is. When I went to work for a here we go, we're going down one rabbit trails, right. But |
| 241 | 00:47:48 --> 00:48:03 | it fits here. So I'm gonna tell you, when I was working for the Jewish family in Owings Mills, the owner son was saying, Hey, I'm involved in this. Ponzi Ponzi |
| 242 | 00:48:04 --> 00:48:16 | is yeah, what we do is we put 5000 hours each in, and then your name gets moved up, moved up, moved up, and eventually you get the payout of everybody's 5000 |
| 243 | 00:48:16 --> 00:48:27 | hours paid in for that week. So this went on for a little while. And he got a couple payouts. He's like, Man, this is great. All you got to do is talk other |
| 244 | 00:48:27 --> 00:48:34 | people into doing it, why don't you do it? And I thought that I don't it back then, I mean, I was a working person, you know, 5000 hours is, as that sounds |
| 245 | 00:48:34 --> 00:48:46 | like it's outside of my reach, I couldn't do that. But eventually, he got burned. Now he got paid out a few times. But he lost his money. Because the |
| 246 | 00:48:46 --> 00:48:50 | people that were running, it just vanished. They ran away with the money |
| 247 | 00:48:56 --> 00:49:08 | these prop firms are equivalent to that. Because you need other people paying in for you to ever get your money. There's orders are never gone to the exchanges. |
| 248 | 00:49:08 --> 00:49:21 | There's never any real counterparty to your trade. And let's be honest, folks, 99% of you knew that. If you didn't you know it now, and you still want to do |
| 249 | 00:49:21 --> 00:49:37 | it. So, yeah, let's be practical here. Okay. You know what you're trying to do? You just want to get money. And I understand that. But there's ways to do it |
| 250 | 00:49:37 --> 00:49:51 | outside of Prop. Those prop firms, companies, then their $150,000, whatever it is, whatever, whatever the highest threshold is. Whatever their minimum in terms |
| 251 | 00:49:51 --> 00:50:03 | of whatever the maximum drawdown is before you lose the account. That's what you're trading with. But it's even worse because it's not even real. money. If |
| 252 | 00:50:03 --> 00:50:21 | you traded real money with proper mindset, proper risk management and trade management, and allow time to do its work. That same $3,000 on a hypothetical |
| 253 | 00:50:21 --> 00:50:33 | $150,000 funded account, that same $3,000 can grow to 150,000 hours in a few short years. But I ain't got time for that. Okay? What happens when the prop |
| 254 | 00:50:33 --> 00:50:42 | firm stuff goes away, you got all kinds of fucking time now. You got to stop pushing yourself in these little boxes, saying it has to happen this way, or it |
| 255 | 00:50:42 --> 00:50:55 | can't work. You have to look at things differently. You have to broaden your perspective and say, You know what, I want to have a different way of doing it |
| 256 | 00:50:56 --> 00:51:14 | than the one I liked. Right? Now, I have to have options. I need to make my ends meet. And if you are a good trader, and you're well, if you have command of a |
| 257 | 00:51:14 --> 00:51:26 | rudimentary math, you can clearly see the effects of compound interest when you just let time do the heavy lifting. And that's what I've been telling you. And |
| 258 | 00:51:26 --> 00:51:37 | when I first mentioned, prop firm conversations, I said, if you're doing that, if you're doing that, take some of that out, put it aside, so that way you have |
| 259 | 00:51:37 --> 00:51:45 | money to trade with in a real brokerage account, don't just spend it thinking it's gonna keep continuously happening for you. You have to you have to put it |
| 260 | 00:51:45 --> 00:51:59 | aside and put it in a place where it can work for you. It's easily accessible, that, that trade a day on Friday, that short 15,000 hours, would prevent me to |
| 261 | 00:51:59 --> 00:52:09 | ask for a wire that day, and get it into my account. Do I have to wait for four days of profitability, five days of profitability, I have to wait and I can only |
| 262 | 00:52:09 --> 00:52:21 | do two withdrawals a month. Now, I can get that done that day. Worst case scenario, the next business day, it'll be in my bank account. That's what you |
| 263 | 00:52:21 --> 00:52:31 | want. You want to be liquid, you're really not liquid in these funded accounts. You're not. It's all kinds of extra rules that real trading and a real money |
| 264 | 00:52:31 --> 00:52:44 | account doesn't have. But you're walking into it and bracing and saying I love you. I've never been apart from you. You have me forever. And I'm never gonna do |
| 265 | 00:52:44 --> 00:52:52 | anything other than you. When they should be just a one night stand user while you have them. Ladies, I'm not trying to be a womanizer and teach my students to |
| 266 | 00:52:52 --> 00:53:02 | be womanizers. I'm saying the mindset should be hit it and quit it, get your money. But at the work somewhere else, still do it if you want to do it, if |
| 267 | 00:53:02 --> 00:53:10 | that's if that's what you want to do. I'm not saying to do it. But if you're doing it diversified, that take the real money that they're willing to pay out, |
| 268 | 00:53:11 --> 00:53:22 | however that is and then put it to work with a real brokerage firm, where you're paying real commissions, you have real liquid conditions where you can take the |
| 269 | 00:53:22 --> 00:53:43 | money out. Just like that that's peace of mind. That is preparing your life to operate like a business, not a lottery. And that's how you're treating these |
| 270 | 00:53:43 --> 00:53:52 | prop firms. I'm sorry, but I'm gonna be blunt. But that's exactly what all of you are trying to do. You're trying to treat them like a lottery ticket. Yeah, |
| 271 | 00:53:52 --> 00:54:01 | I'll spend 50 bucks because look, if I can get a payoff of five grant men that look at the return on that. I agree. I absolutely agree if you can do that, and |
| 272 | 00:54:01 --> 00:54:12 | you take $5,000 out or 10,000 hours and you only had to pay that 50 bucks or whatever it is, but it's really not that is it because other fees in there you |
| 273 | 00:54:12 --> 00:54:29 | gotta pay for the activation if my son was correct and when he read it sounds like they you have to pay something a month for data or the pain data for now I |
| 274 | 00:54:29 --> 00:54:39 | got data on TradingView that's reminds me I got a contact amp take off they're charging me like 30 some dollars a month for data and already have real time |
| 275 | 00:54:39 --> 00:54:56 | data into other resources. I don't need it through them. I can do that real quick like that life. The the world is wide open to you outside of profit from |
| 276 | 00:54:57 --> 00:55:08 | it is if you do really well with new learning have the skill set, and you're able to share it openly, people will talk about it. And people will eventually |
| 277 | 00:55:08 --> 00:55:18 | have that information placed in the right years, or before someone that has money, or know someone that's looking for someone that can do that really, |
| 278 | 00:55:18 --> 00:55:29 | really well. And if you get your community up big enough, and you really want to do it, you can just mention it during your live streams, hey, I'm looking for a |
| 279 | 00:55:29 --> 00:55:43 | partnership, a limited partnership, you know, something that is feasible for both of us, I'd like to have a limited partnership for a set number of time, |
| 280 | 00:55:43 --> 00:55:54 | like one year partnership, it dissolves after a year or two or whatever, or maybe it's six months. And if you do well, you, you re up the contract between |
| 281 | 00:55:54 --> 00:56:04 | the two of you. And you can negotiate the terms then. Because they will see that you're able to do what you can do. And it's absolutely legal, because you're not |
| 282 | 00:56:04 --> 00:56:14 | trying to be a stockbroker, you're not trying to be a financial adviser, you're going into a limited partnership. They know they're signing on that, hey, |
| 283 | 00:56:15 --> 00:56:26 | there's a mutual agreement. This is what we're doing together on the on the operator here and it's making decisions. And at anytime you feel that this is |
| 284 | 00:56:26 --> 00:56:36 | too much loss, you had an contract, that they can dissolve that. So that way they can they have control. They don't want to lose all their money. If you |
| 285 | 00:56:36 --> 00:56:47 | breach a threshold of drawdown, just like the prop firms, once you get to this point, you're done. You can't trade anymore, or you're personally responsible |
| 286 | 00:56:47 --> 00:56:58 | for anything beyond that. All that can be done by a lawyer. It's easy. It's easy to have all that stuff done. But some of you don't want to go that route, you |
| 287 | 00:56:58 --> 00:57:09 | want the easy push a button, let me put my credit card and get my funding account. And just get rich. That might work for some of you might, but for most |
| 288 | 00:57:09 --> 00:57:18 | you won't. And I want you to understand that that's reality. And you shouldn't hate me or be mad because I said that because some of you are in the cloud still |
| 289 | 00:57:18 --> 00:57:36 | about wanting to make money and you don't know how to trade yet. So I don't know if this kind of message helps you. Like I don't know if it makes you feel better |
| 290 | 00:57:36 --> 00:57:49 | about things or if it aggravates it, but some of you probably wish I wouldn't talk about it at all because my hands are not in it. And I'm not a participant |
| 291 | 00:57:49 --> 00:58:03 | of dealing it. So therefore I shouldn't have a say in the matter. But I told my son, I said, Well, your your options are wide open to you. He wants to do this |
| 292 | 00:58:03 --> 00:58:14 | because he wants to do it on his own. That way, when he gets out there on the internet and says, Look what I've done google google caveman. He can he can say |
| 293 | 00:58:14 --> 00:58:27 | in honesty that didn't do this for me. And I got from I can appreciate that, and I can respect that. But if Prop goes away for him, it's okay because we were |
| 294 | 00:58:27 --> 00:58:37 | going to just do a short little run. And as we push it and make sure he gets what he was supposed to get out of it, and then stop. It's not like a lifelong |
| 295 | 00:58:37 --> 00:58:49 | thing. I want him to go into a real brokerage account. Make enough to start it, go there. And then the real show starts. It's not about running up a top step |
| 296 | 00:58:49 --> 00:58:56 | account or accounts now because he did three of them. My understanding was he was gonna go for one, but he got three. So typical. |
| 297 | 00:58:59 --> 00:59:09 | I'm telling you, if this boy gets his shit together with this, he's going to be everything with every one of you wanted a show off that we'll do it live in |
| 298 | 00:59:09 --> 00:59:16 | front of you. He will fucking talk his shit and walk that shit in front everybody and he will chase down everyone. He's going to be a problem child. |
| 299 | 00:59:18 --> 00:59:26 | And, you know, in a lot of ways, I'd like to see it. But also know that he won't he won't do well with the drama side of it. It gets like with me, like it's too |
| 300 | 00:59:26 --> 00:59:41 | personal because he likes to scrap. So I'm going to close this one leave you with a reminder that Prop firms are not the only way here. And you can do a lot |
| 301 | 00:59:42 --> 00:59:53 | with things outside of trading with real money. You can talk you can do commentary and share your opinion. That's all it is. It's not investment advice. |
| 302 | 00:59:55 --> 01:00:07 | You're not trying to coax people into taking a buy or sell of any interest Women are any security, none of that stuff. But if you're behind a paywall, and they |
| 303 | 01:00:07 --> 01:00:19 | see you can do this consistently, do you think they're gonna stop paying you? Hell no. I got people that were in my mentorship that had to stop because of |
| 304 | 01:00:19 --> 01:00:27 | COVID Bullshit, they lost their job, their business were shut down. And they couldn't afford to pay the rest of the stuff that was required. Some of them |
| 305 | 01:00:27 --> 01:00:36 | were one four. So I'm more later in, in the series, but there was 12 months, they had to pay in a final one time payment of 200 hours for lifetime access to |
| 306 | 01:00:36 --> 01:00:36 | me. |
| 307 | 01:00:42 --> 01:00:53 | They are constantly emailing me, can I come back in when it's not there now? Does that sound like people that feel like they wasted their money, they knew |
| 308 | 01:00:53 --> 01:01:04 | they knew what they were seeing. Every day, I would sit down and explain to him this is where I think the marks gonna go. I was guiding them. If you do that |
| 309 | 01:01:04 --> 01:01:12 | with your community, and you know what you're doing, and you're comfortable, you're not trying to do more than what's necessary. You build rapport with your |
| 310 | 01:01:12 --> 01:01:22 | audience. They will be wherever you are. And they'll be glad to be a part of it. They'll feel like they're a part of something, which is what our community is |
| 311 | 01:01:22 --> 01:01:33 | here. There's a connection here, because they know like when I'm talking to you right now, I'm telling you things to help you. I'm not asking you for any money. |
| 312 | 01:01:34 --> 01:01:44 | I'm not putting you through ads on YouTube. I'm counseling you, I'm telling you to consider your options. Don't sell yourself short. Don't feel guilty if you |
| 313 | 01:01:44 --> 01:01:53 | want to monetize yourself. For fuck sake, I'm giving you these things here. There's dozens of them on YouTube that are getting paid. It doesn't hurt me is |
| 314 | 01:01:53 --> 01:02:04 | not hurting me to do this. I just don't want the people taking my videos and dumping them in your own language as a Russian channel and get ready to pull |
| 315 | 01:02:04 --> 01:02:10 | down and there's two Hispanic channels, and an Indian challenging reporting, you're going to lose all your monetization, because you did something I told you |
| 316 | 01:02:10 --> 01:02:20 | not to do. Do not put my mentorship videos on your YouTube channel. Don't because I will have them yanked down. I will it takes us two copyrights and you |
| 317 | 01:02:20 --> 01:02:25 | lost your monetization. And email me asked me to take them away, I'm not going to take them away, I will not do it. |
| 318 | 01:02:32 --> 01:02:48 | But be honest with your audience. Give them something that has value. Whether it's a YouTube channel, whether it be I think, I don't know much about discord. |
| 319 | 01:02:49 --> 01:02:58 | I know it's like a chat room thing. I've never, I've never been in one to know what it looks like. But the idea of like Telegram, they're popular. And you |
| 320 | 01:02:58 --> 01:03:07 | might be behind a paywall with that where you share your analysis or call things as it happens there. You can start like what I was doing here on Twitter, sit |
| 321 | 01:03:07 --> 01:03:19 | down and tweet openly. Give them the access to you without any strings, where everything is time and date stamped. Don't delete anything, don't get the blue |
| 322 | 01:03:19 --> 01:03:30 | checkmark bullshit where you can edit your tweets. Everything is one drop. There it is, it is what it is. Let people see what you're calling. Let them trust you. |
| 323 | 01:03:31 --> 01:03:39 | If you have something that's worthwhile and has value, you should want to do it that way. And you want to be careful and slow about doing it that way they know |
| 324 | 01:03:40 --> 01:03:51 | it's not a quick rush flash in the pan. Oh, he got lucky, she got lucky. Now, this person comes out here every day does the same type of thing. They're not |
| 325 | 01:03:51 --> 01:03:58 | emotionally charged, to not hyping up anything. This is what I want to see happen. This is what I'm watching. And this is the area that would be |
| 326 | 01:03:58 --> 01:04:06 | conflicting with my analysis. And I'll tell you what I'll expect if it does that. That's a fair assessment. That's not an A or B or doesn't know what the |
| 327 | 01:04:06 --> 01:04:17 | fuck is going on. You tell them what you want to see. I favor lungs to this level, I'm going to be looking for this or that. But if it does this and trades |
| 328 | 01:04:17 --> 01:04:27 | below here, I have to put that expectation on the sidelines and maybe consider reversal or stings. I have to see what happens there. I think that is a very, |
| 329 | 01:04:27 --> 01:04:42 | very fair comment. And as the market starts to do those things, start pointing out okay, this was where the market should stop here. This would be a good area |
| 330 | 01:04:42 --> 01:04:53 | to anticipate the market going higher. You're not saying by you're not encouraging them to press the buttons, press the buy button to get them used to |
| 331 | 01:04:53 --> 01:05:07 | your language, if you will. And they'll see exactly what they want to see Get a signal service, a guidance, whatever it is, okay, that little nudge they needed, |
| 332 | 01:05:07 --> 01:05:14 | they may be thinking it's gonna go higher too. And they just want to see that you have been doing this for months in front of them for free. I ain't doing |
| 333 | 01:05:14 --> 01:05:27 | that for free ICT shit. I'm trying to get my money. Well, let me tell you something, you have no idea, the amounts of money that are thrown at you. If you |
| 334 | 01:05:27 --> 01:05:37 | prove to people that you can do this beforehand, show them before it happens. And they will have access to that. If I said I'm opening up mentorship, and I'm |
| 335 | 01:05:37 --> 01:05:45 | going to do it again behind a paywall, every one of you and everybody else on his Twitter account, that's real, not a bot, would be scratching their heads |
| 336 | 01:05:45 --> 01:05:51 | thinking, Okay, where can I get the money to pay for this, because I'm doing that shit. That's what you want to create for yourself. By the way, I'm not |
| 337 | 01:05:51 --> 01:06:04 | doing that. Because I'm the same in terms of creating this level of demand. Like I need to be a part of that. You want to create that for yourself. And stay in |
| 338 | 01:06:04 --> 01:06:13 | your lane when you do it. Don't create drama, don't point to anybody else. When he talks shit about you just don't talk it. It's advertisement, it works. |
| 339 | 01:06:13 --> 01:06:22 | Because they'll come to you. And they'll see that you're doing exactly what you said you're gonna do. And people are supporting you. And they are finding |
| 340 | 01:06:22 --> 01:06:30 | success in what it is that you're doing. And it will eat at them like a cancer that they can't stop you that they can't affect you. And you're just gonna keep |
| 341 | 01:06:30 --> 01:06:39 | growing, and growing, and growing and more respect from people that are just going to meet you based on other people's success using what it is you share. |
| 342 | 01:06:40 --> 01:06:49 | And you're not dealing with a prop account. How about that didn't cost you any money. It's just your time investment, what you're going to invest time in |
| 343 | 01:06:49 --> 01:07:04 | anything you do. But if you want to build a community paywall it's easy to make millions of dollars a year doing that. Easy to do that. But you have to be |
| 344 | 01:07:04 --> 01:07:14 | likable. You have to be someone that has something of value, not drama all the time and had no substance whatsoever when Ian and Yang shit all of your chart, |
| 345 | 01:07:14 --> 01:07:29 | talking with a Fakest DJ voice. That's garbage. That's trash, as Jerry Springer fucking mentorships. Okay, that doesn't work. Fun to talk about, find the book |
| 346 | 01:07:29 --> 01:07:39 | and product. But you don't wanna be part of something like that. And you don't want to create an environment like that. And so many of you are selling yourself |
| 347 | 01:07:39 --> 01:07:52 | short in that area, because you know, you probably have performance anxiety, you don't want to take real trades. You love doing demo and your analysis |
| 348 | 01:07:52 --> 01:08:04 | phenomenal. But something's happening. When you go into live, you short circuit, you're not doing well with the money. You have not defeated that dragon yet. |
| 349 | 01:08:04 --> 01:08:17 | Okay. Don't go to that Dragon Lair. Stay in demo, let everybody know what you're doing is in demo, and Excel there. Avoid all the legal constraints about being a |
| 350 | 01:08:17 --> 01:08:29 | financial advisor. You're not an introducing broker where all these things could potentially put you in trouble legally. If you're up here with a demo account, |
| 351 | 01:08:29 --> 01:08:35 | and everybody knows this demo, it says it right in the fucking corner of the screen. And you also have a little tiny thing it says, this is all paper |
| 352 | 01:08:35 --> 01:08:47 | trading. for informational purposes only. It's not investment advice. It's constantly in your fucking face. You're never saying buy it here, sell it here. |
| 353 | 01:08:48 --> 01:08:59 | There's literally nothing. Nothing anybody can fucking do. And that viewership is monetized. And there is nothing anybody can say about it, and say it's wrong. |
| 354 | 01:09:01 --> 01:09:15 | That's liberating. And I fucking did that shit. For years. Millions and millions and millions of dollars. And I had fun. Yeah, but more people. More demands, |
| 355 | 01:09:15 --> 01:09:22 | talk about this market, talk about that market. So you have to be very clear and say, Look, this is all I'm going to be focusing on. If you're not interested in |
| 356 | 01:09:22 --> 01:09:31 | this. Don't subscribe to me. Don't come here. Don't ask me to do something I'm not willing to do and I wish you good luck and everything you're doing. be |
| 357 | 01:09:31 --> 01:09:41 | blameless. You tell them what you're willing to do. This is the only tight wire I'm walking. I'm not doing anything else. I'm not juggling two. If you're |
| 358 | 01:09:41 --> 01:09:50 | upfront and you tell them what you're willing to do and what you're not willing to do, they have to accept those terms. Hurt heard anything about Prop firm |
| 359 | 01:09:50 --> 01:10:04 | here. But I'm telling you if you knew how to trade and you had a read price, and you can do it in front of people Man, you have no idea, the money that fucking |
| 360 | 01:10:04 --> 01:10:16 | comes in. You have no idea. And that's the one of the things I've always had a complaint against when people troll me, many of them are sellers of things. |
| 361 | 01:10:16 --> 01:10:32 | Okay. And my question is, why aren't their members so violently ready to defend them? Like they do me. Because when I share something, it's visible, you can see |
| 362 | 01:10:32 --> 01:10:40 | it, you can anticipate you know exactly what I'm referring to when I'm talking about it. And when it delivers, it's the same thing all the time. But they don't |
| 363 | 01:10:40 --> 01:10:48 | have that with their own work, and their marketing. And they're doing this and they're doing that. And they come over here, and they try to stir up shit with |
| 364 | 01:10:48 --> 01:11:07 | me. Makes no sense. And none of it works. It never never works. And eventually, I get some of their subscribers. The drama marketing strategy doesn't work. It's |
| 365 | 01:11:07 --> 01:11:20 | equivalent to a schoolyard fight, fight, fight. Neither one these guys are gonna kill the next one. So this is go. Yeah, treat everything like a business. Your |
| 366 | 01:11:20 --> 01:11:33 | life needs to be run like a business, it needs to be organized, scheduled. And you have to schedule the expectations of your audience members. That means you |
| 367 | 01:11:33 --> 01:11:47 | hold them captive, their attention is held captive. And you direct their attention to things that you are strong in. Try not to do more than what's |
| 368 | 01:11:47 --> 01:11:59 | necessary for yourself and maintain that balancing act. And it's easy to make lots of money. Because if you have the goods and you can call it before it |
| 369 | 01:11:59 --> 01:12:11 | happens. There is an army of people out there that are constantly coming into this industry that just simply need to see that. Enable champion you What are |
| 370 | 01:12:11 --> 01:12:24 | you asking them, you don't have to call yourself the goat. The goat yours bullshit. But all these things would be applied to you. And it's all marketing |
| 371 | 01:12:24 --> 01:12:33 | that's free, it's all free. Because you brought value to it. It could be a community we're just hanging out together, you know, on |
| 372 | 01:12:35 --> 01:12:44 | a space like this. Hey, looking I'm gonna get it here, I'm gonna talk about the markets gonna do like a Squawk Box. Alright, watch this here and watch this, you |
| 373 | 01:12:44 --> 01:12:52 | know, gold should go here. And this is the level that you watch for here, it should find some support here should sign some resistance here and trade down to |
| 374 | 01:12:52 --> 01:13:05 | this liquidity up to that inefficiency. Call it as it's happening. Let your audience build a relationship with you. Let them see how you think. It will |
| 375 | 01:13:05 --> 01:13:22 | improve your trading. And you might end up becoming a little bit more willing to navigate over to live trading in front of them. Not that it has to happen. But |
| 376 | 01:13:22 --> 01:13:34 | it could happen as a default. By doing what you're doing this way, it may give you the confidence the encouragement that you're lacking right now. But YouTube |
| 377 | 01:13:34 --> 01:13:45 | channels, private communities limited partnerships. It doesn't fucking matter where you are in the world if you're dead ass broke right now. If you have this |
| 378 | 01:13:45 --> 01:13:59 | skill, it's easily marketed people are out there looking for someone it does not fucking matter if you came from an impoverished nation doesn't matter. Don't |
| 379 | 01:13:59 --> 01:14:08 | look at that shit. Like it's a chain holding you back it is not that is not an obstacle that you need to be fearful of. It is not something that's going to |
| 380 | 01:14:08 --> 01:14:22 | prevent you unless you allow it to if you think it's gonna hold you back it will if you believe that that's a formidable obstacle that you can't get past it will |
| 381 | 01:14:22 --> 01:14:36 | be that very thing for you it's just a speed bump that's all it's a pothole. You just got to go around it. It's all it's all it is. Now I see the universe and I |
| 382 | 01:14:36 --> 01:14:53 | was fucking homeless. I understand. Okay, I was homeless. Cody in the fucking passenger seat, not even a car seat, wrapped up in a blanket and my coat Believe |
| 383 | 01:14:53 --> 01:15:06 | me, I know all of these things are just suggestions to you to think about things a little bit differently. And try not to put all of your hopes and expectations |
| 384 | 01:15:06 --> 01:15:12 | into one thing. And trading has a multi faceted |
| 385 | 01:15:20 --> 01:15:32 | openness, conduits means of monetizing it, and doesn't necessarily mean that you're pushing a button in a live account that should hopefully become what you |
| 386 | 01:15:32 --> 01:15:46 | do. That's another income stream that you can monetize your efforts with what it is that you learn how to do. And there's nothing wrong with that some of you are |
| 387 | 01:15:46 --> 01:15:53 | going to be out there barking still this week, the people that are charging money, oh, but ICT does it for free, you're a bitch. Because if you were really |
| 388 | 01:15:53 --> 01:16:04 | good, you wouldn't charge. Like I said, he's not charging. Let these people do what they're doing. They have things they have to take care of. They're trying |
| 389 | 01:16:04 --> 01:16:11 | to run a business, they're trying to make their ends meet, you don't know how they live. And if they're not starting to shit over here, just leave him alone |
| 390 | 01:16:17 --> 01:16:30 | mind your fucking business. Simple that is the best mindset you can have in this industry. Just mind your own fucking business. Because if you don't, no one else |
| 391 | 01:16:30 --> 01:16:44 | is gonna do it. Profit not only WebKit. There's lots of other opportunities and it's much more than the ones listed here. But this is enough for today. You |
| 392 | 01:16:44 --> 01:16:53 | should be encouraged. You shouldn't be worrying about. I'm not going to be able to do this because the prop firms are going to go away. It's too myopic of a |
| 393 | 01:16:53 --> 01:16:59 | view. There's so many other ways for you to use this skill set |
| 394 | 01:17:05 --> 01:17:13 | Don't sell yourself short. You really G'day. Talk to you on Tuesday. Until next time, be safe |