Wiki source code of 052-ict-tw-spaces-2023-09-30-When-The-Facts-Speak-For-Themselves
Last modified by Drunk Monkey on 2024-09-25 09:01
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| 1 | (% class="hover min" %) | ||
| 2 | |1 |00:00:22 ~-~-> 00:00:29 |ICT: It is a good morning. It is a good morning and we are in overtime. Yeah, | ||
| 3 | |2 |00:00:29 ~-~-> 00:00:35 |I'm fine. I had so much fun this morning. But all good things must come | ||
| 4 | |3 |00:00:35 ~-~-> 00:00:42 |to an end. And my wife said, I have until 10 o'clock or it's my ass. So | ||
| 5 | |4 |00:00:43 ~-~-> 00:00:49 |she's been, she's been very, very flexible. Okay. So at 10 o'clock, I have | ||
| 6 | |5 |00:00:49 ~-~-> 00:00:56 |to escape here today. But it gives me enough time to hopefully instill in you | ||
| 7 | |6 |00:00:56 ~-~-> 00:01:03 |some things and some takeaways for this week. So obviously, you can see the | ||
| 8 | |7 |00:01:03 ~-~-> 00:01:09 |other study, and live stream on YouTube. And we covered a lot of details, we | ||
| 9 | |8 |00:01:09 ~-~-> 00:01:14 |covered a lot of things that were not available to you at the time of me, | ||
| 10 | |9 |00:01:14 ~-~-> 00:01:17 |calling the market yesterday outlining it and then showing you the live trade, | ||
| 11 | |10 |00:01:18 ~-~-> 00:01:25 |working with the information. But the the thing I want to talk about today, in | ||
| 12 | |11 |00:01:25 ~-~-> 00:01:30 |this Twitter space is when the facts speak for themselves. And I want to | ||
| 13 | |12 |00:01:30 ~-~-> 00:01:35 |touch on a few things here. And kind of like remind you, what you're looking | ||
| 14 | |13 |00:01:35 ~-~-> 00:01:42 |for. You have it in your hands right now. You just haven't used it enough to | ||
| 15 | |14 |00:01:42 ~-~-> 00:01:47 |see the results that you're requiring whether you accept the fact that that's | ||
| 16 | |15 |00:01:47 ~-~-> 00:01:53 |what you're waiting for it or not. Chances are you want to see yourself, do | ||
| 17 | |16 |00:01:53 ~-~-> 00:02:02 |something one time. One time where it's rule based, you felt comfortable doing | ||
| 18 | |17 |00:02:02 ~-~-> 00:02:06 |it, it did exactly what you thought it was going to do. And if you have that | ||
| 19 | |18 |00:02:06 ~-~-> 00:02:12 |moment, even if it's in a demo account, if you could just get that one event | ||
| 20 | |19 |00:02:12 ~-~-> 00:02:17 |where I didn't tell you, no one else inspired you to do it, you found that | ||
| 21 | |20 |00:02:17 ~-~-> 00:02:23 |all by yourself, that will be a fact that you'll hold on to. And that would | ||
| 22 | |21 |00:02:23 ~-~-> 00:02:30 |be just enough for you to pursue and keep moving forward. Others may require | ||
| 23 | |22 |00:02:30 ~-~-> 00:02:34 |that same thing, but with a live account. And that's why you foolishly | ||
| 24 | |23 |00:02:34 ~-~-> 00:02:38 |sometimes try to do it with real money, or you rush to try to get combine with | ||
| 25 | |24 |00:02:38 ~-~-> 00:02:42 |it. And then try to do the same logic. Once you get funded, should you get | ||
| 26 | |25 |00:02:42 ~-~-> 00:02:49 |funded. And you either blow it or cause so much damage that it's pointless to | ||
| 27 | |26 |00:02:49 ~-~-> 00:02:56 |consider going forward with it. My son Cameron, as I mentioned, and you've | ||
| 28 | |27 |00:02:56 ~-~-> 00:03:01 |probably already seen, Tom step was very forthcoming with sharing you what he was | ||
| 29 | |28 |00:03:01 ~-~-> 00:03:13 |able to do. He's received two payouts. He passed three of his Express. I don't | ||
| 30 | |29 |00:03:13 ~-~-> 00:03:19 |know the exact terms for it. But I think Express funded account. That is the | ||
| 31 | |30 |00:03:19 ~-~-> 00:03:24 |thing that you get apparently, after you pass the challenge, or combine or I | ||
| 32 | |31 |00:03:24 ~-~-> 00:03:27 |don't even think I don't know if they call it Chi Minh combine. But it's the | ||
| 33 | |32 |00:03:27 ~-~-> 00:03:32 |part where if you win in the trade, you don't have the ability to take the money | ||
| 34 | |33 |00:03:32 ~-~-> 00:03:36 |out. And then when you get into Express, my understanding is you're still not | ||
| 35 | |34 |00:03:36 ~-~-> 00:03:41 |trading with real money. But if you ask for payouts, they will pay out based on | ||
| 36 | |35 |00:03:41 ~-~-> 00:03:45 |what you supposedly made. And again, eventually, if they like you as a | ||
| 37 | |36 |00:03:45 ~-~-> 00:03:52 |trader, and you exhibit the things that they want to see they will fund you. And | ||
| 38 | |37 |00:03:52 ~-~-> 00:03:57 |I just saw two of my students. Literally we're tapped on the shoulder by top step | ||
| 39 | |38 |00:03:57 ~-~-> 00:04:01 |and now they're funded traitor. So not from my image. And I'm not sure if this | ||
| 40 | |39 |00:04:01 ~-~-> 00:04:04 |is accurate. So if I'm not accurate, please forgive me and correct me in | ||
| 41 | |40 |00:04:04 ~-~-> 00:04:09 |response on Twitter. But when they say they're funding them, then now they're | ||
| 42 | |41 |00:04:09 ~-~-> 00:04:13 |in a live account where they're actually trading with real money. Whether that's | ||
| 43 | |42 |00:04:13 ~-~-> 00:04:18 |true or not, I don't know. But it's the tear above Express funded or what would | ||
| 44 | |43 |00:04:18 ~-~-> 00:04:21 |be considered classically funded, whatever by tries to get to basically, | ||
| 45 | |44 |00:04:23 ~-~-> 00:04:29 |if you look at the statistics, I'm not sure if Mike Pathak or top step has made | ||
| 46 | |45 |00:04:29 ~-~-> 00:04:34 |it public with the statistics are in terms of the rate of success for people | ||
| 47 | |46 |00:04:34 ~-~-> 00:04:40 |to try to get funded and get payouts. But if you look at the numbers that some | ||
| 48 | |47 |00:04:40 ~-~-> 00:04:43 |of the other Forex funded account companies, they have been very | ||
| 49 | |48 |00:04:43 ~-~-> 00:04:47 |forthcoming, which I have a great deal of respect for because they're telling | ||
| 50 | |49 |00:04:47 ~-~-> 00:04:53 |you openly like you have next to zero chance of doing this unless you know | ||
| 51 | |50 |00:04:53 ~-~-> 00:04:57 |what you're doing. You're you're you're probably going to fail. And when people | ||
| 52 | |51 |00:04:57 ~-~-> 00:05:03 |see those statistics and I gotta be real careful how I say these things because I | ||
| 53 | |52 |00:05:03 ~-~-> 00:05:07 |don't want to sound like I'm pissing all over them. And I don't want to sound | ||
| 54 | |53 |00:05:07 ~-~-> 00:05:12 |like I'm propping any of them up or representing them. Okay? What my son did | ||
| 55 | |54 |00:05:12 ~-~-> 00:05:16 |was in a selfie, he made the decision to do that. I didn't inspire him to pick | ||
| 56 | |55 |00:05:16 ~-~-> 00:05:21 |any one particular company, he picked up stuff because he saw the ads on YouTube. | ||
| 57 | |56 |00:05:22 ~-~-> 00:05:25 |So that's the one like anything else. You know, when you think of something. | ||
| 58 | |57 |00:05:26 ~-~-> 00:05:29 |When you think of a plumbing problem, what do you think of in the United | ||
| 59 | |58 |00:05:29 ~-~-> 00:05:35 |States? roto rooter. Okay, it's the shit, right? Well, I don't use roto | ||
| 60 | |59 |00:05:35 ~-~-> 00:05:39 |Rooter, by the way, it's really a good example. But when you think of | ||
| 61 | |60 |00:05:39 ~-~-> 00:05:42 |something, you know, whatever has been advertised and put in front of you, | ||
| 62 | |61 |00:05:42 ~-~-> 00:05:45 |because of what I talked about in the live stream is priming. Okay, in | ||
| 63 | |62 |00:05:45 ~-~-> 00:05:48 |advertising, the people that put the most money in capital behind their | ||
| 64 | |63 |00:05:48 ~-~-> 00:05:52 |advertising. They're the one that's going to get the squeaky wheel gets the | ||
| 65 | |64 |00:05:52 ~-~-> 00:05:58 |oil. Well, Cameron chose to upset not because I I said, Pick this one, because | ||
| 66 | |65 |00:05:58 ~-~-> 00:06:02 |I never would have picked any of them. I wasn't, you know, I wasn't of the | ||
| 67 | |66 |00:06:02 ~-~-> 00:06:06 |opinion that I wouldn't want my son going that route. You know, I was ready | ||
| 68 | |67 |00:06:06 ~-~-> 00:06:09 |to give him money. And he was saying, I don't want to do it that way. Dad, I | ||
| 69 | |68 |00:06:09 ~-~-> 00:06:18 |want to be able to say I did it. No, he did. He did it. But his initial sway | ||
| 70 | |69 |00:06:18 ~-~-> 00:06:22 |with it, where he I think he failed. I think he told me seven times he tried to | ||
| 71 | |70 |00:06:22 ~-~-> 00:06:27 |pass it and failed. But he was doing everything wrong, you that you could | ||
| 72 | |71 |00:06:27 ~-~-> 00:06:32 |possibly do over leveraging trying to the maximum, no idea where he was | ||
| 73 | |72 |00:06:32 ~-~-> 00:06:38 |dealing. Okay. And then we spent about a month of sitting down with these are the | ||
| 74 | |73 |00:06:38 ~-~-> 00:06:44 |rules. These are the rules, okay? You don't have discipline, but the only way | ||
| 75 | |74 |00:06:44 ~-~-> 00:06:49 |you can forge that discipline is by using these fucking rules. Okay, what | ||
| 76 | |75 |00:06:49 ~-~-> 00:06:54 |rules are there, you have to know where you're aiming for. Because if you aim at | ||
| 77 | |76 |00:06:54 ~-~-> 00:06:59 |nothing, you'll hit it every time. And for some of you that went right over | ||
| 78 | |77 |00:06:59 ~-~-> 00:07:03 |your head, but you have to have a target. You have to have a target in | ||
| 79 | |78 |00:07:03 ~-~-> 00:07:10 |mind where you're aiming for what price? What is it reaching for? If you can't | ||
| 80 | |79 |00:07:10 ~-~-> 00:07:14 |ascertain that, by looking at a chart, you have absolutely no business, pushing | ||
| 81 | |80 |00:07:14 ~-~-> 00:07:19 |a button where you incur risk, even if it's demo, because the outcome is going | ||
| 82 | |81 |00:07:19 ~-~-> 00:07:22 |to be detrimental to your development, because you're going to be feeding | ||
| 83 | |82 |00:07:22 ~-~-> 00:07:28 |yourself toxic results that were rooted on no real rhyme or reason or model. | ||
| 84 | |83 |00:07:28 ~-~-> 00:07:33 |Unless you're going to take it as a kick in the ass. You're going to take it as | ||
| 85 | |84 |00:07:33 ~-~-> 00:07:38 |failure, you're not getting what you want a dopamine hit. So you're treating | ||
| 86 | |85 |00:07:38 ~-~-> 00:07:42 |it like an ex girlfriend or an ex boyfriend that were toxic and need these | ||
| 87 | |86 |00:07:42 ~-~-> 00:07:45 |keep calling and you'll want to do with them. That's immensely which will treat | ||
| 88 | |87 |00:07:45 ~-~-> 00:07:49 |business with relationships. That way, you'll have that same thing towards the | ||
| 89 | |88 |00:07:49 ~-~-> 00:07:53 |markets and trading, which is the reason why I talk to you this way. I use | ||
| 90 | |89 |00:07:53 ~-~-> 00:07:57 |analogies so that we can draw parallels to something that I understand that | ||
| 91 | |90 |00:07:57 ~-~-> 00:08:01 |feels like I don't want that to feel like that when I'm trading. Don't do | ||
| 92 | |91 |00:08:01 ~-~-> 00:08:04 |this shit you're doing, do the things I'm telling you to do and avoid the | ||
| 93 | |92 |00:08:04 ~-~-> 00:08:10 |things I tell you to avoid. But here's my son, he's gonna go out there and show | ||
| 94 | |93 |00:08:10 ~-~-> 00:08:16 |me it's just like video games, and he's gonna be mister. I am having a senior | ||
| 95 | |94 |00:08:16 ~-~-> 00:08:19 |moment. I can't remember that fortnight. fortnight. Yeah, he's really really good | ||
| 96 | |95 |00:08:19 ~-~-> 00:08:23 |fortnight, and he's really really good at call duty. Like, he's fucking badass. | ||
| 97 | |96 |00:08:23 ~-~-> 00:08:29 |Like, he's kicks my ass. He's really, really good. And it's amazing. He | ||
| 98 | |97 |00:08:29 ~-~-> 00:08:33 |thought that was going to be the same thing for him. When he got into this. He | ||
| 99 | |98 |00:08:33 ~-~-> 00:08:38 |has that tenacious, like, I'm going to do it that and if it's hard, I'm gonna | ||
| 100 | |99 |00:08:38 ~-~-> 00:08:43 |be that much more inspired to do it. But then when he got his ASB trying to do | ||
| 101 | |100 |00:08:43 ~-~-> 00:08:49 |the combine and failed the seven times or said he did it. I watched him. And he | ||
| 102 | |101 |00:08:49 ~-~-> 00:08:52 |was sulking. And he's just like, you could see it and he wouldn't walk around | ||
| 103 | |102 |00:08:52 ~-~-> 00:08:56 |with the shoulders back like he always was, you know, the typical 18 year old | ||
| 104 | |103 |00:08:56 ~-~-> 00:09:01 |boy, right? There's everything. And I told him, I said, Look, here's the | ||
| 105 | |104 |00:09:01 ~-~-> 00:09:06 |rules, you have to aim for an hourly or a 15 minute high, which ones you're | ||
| 106 | |105 |00:09:06 ~-~-> 00:09:10 |going to reach for the obvious one that is trying to get to, that's all you | ||
| 107 | |106 |00:09:10 ~-~-> 00:09:17 |need. That's all you need, man. That's all you need. And then when you know | ||
| 108 | |107 |00:09:17 ~-~-> 00:09:22 |that you dropped down to a one or five minute chart, and you wait for a one or | ||
| 109 | |108 |00:09:22 ~-~-> 00:09:27 |five minute stop hunt that's against that draw on liquidity. So if you're | ||
| 110 | |109 |00:09:27 ~-~-> 00:09:31 |thinking it's going to go up, you wait for a swing low to be taken out on a one | ||
| 111 | |110 |00:09:31 ~-~-> 00:09:35 |or five minute chart. As soon as it does that. On that timeframe. You have to | ||
| 112 | |111 |00:09:35 ~-~-> 00:09:41 |wait for if it's a swing low, that takes out you got to wait for an up close | ||
| 113 | |112 |00:09:41 ~-~-> 00:09:46 |candle to form immediately after that swing low is taken out. As soon as that | ||
| 114 | |113 |00:09:46 ~-~-> 00:09:50 |happens. Then immediately you drop down to a 32nd chart and you buy the first | ||
| 115 | |114 |00:09:50 ~-~-> 00:09:59 |pair Vega that's easy shit man. That's easy. There's there's simple parameters | ||
| 116 | |115 |00:09:59 ~-~-> 00:10:03 |to that. It's based on the markets gonna gravitate to that higher timeframe | ||
| 117 | |116 |00:10:03 ~-~-> 00:10:08 |drawl. You just had a stop hunt on a lower timeframe. So there should be what | ||
| 118 | |117 |00:10:08 ~-~-> 00:10:11 |a displacement going towards the next opposing liquidity, that's higher | ||
| 119 | |118 |00:10:11 ~-~-> 00:10:16 |timeframe than the one you're entering on, which is 30 seconds right? Out here | ||
| 120 | |119 |00:10:16 ~-~-> 00:10:17 |on one second. | ||
| 121 | |120 |00:10:21 ~-~-> 00:10:24 |I only had one laptop, by the way, these fucking people talking about all these | ||
| 122 | |121 |00:10:24 ~-~-> 00:10:34 |laptops, I got one. Alright, so the model had rules. You have to do this, do | ||
| 123 | |122 |00:10:34 ~-~-> 00:10:39 |this, do this. And once you have it, whatever your winning trade is, whatever | ||
| 124 | |123 |00:10:39 ~-~-> 00:10:44 |it is, you eat it, you take it home, and that's what it is do not reenter. Well, | ||
| 125 | |124 |00:10:44 ~-~-> 00:10:49 |what does he lacking discipline? How does he forge it? Doing it? Doing it and | ||
| 126 | |125 |00:10:49 ~-~-> 00:10:53 |then not doing it and failing and getting the repercussions of it? Okay, | ||
| 127 | |126 |00:10:53 ~-~-> 00:10:58 |that's progress. What happens if he takes a losing trade? He stops? But what | ||
| 128 | |127 |00:10:58 ~-~-> 00:11:02 |if he sees another shot? But he can't take it? But does he lack discipline? So | ||
| 129 | |128 |00:11:02 ~-~-> 00:11:05 |when he tries to do a second trade, and he makes money on it, what does he hear | ||
| 130 | |129 |00:11:05 ~-~-> 00:11:11 |from me? Why are you doing that? But that was good. I mean, why did you not | ||
| 131 | |130 |00:11:11 ~-~-> 00:11:17 |listen? The whole point of this is for you to forge what discipline follow a | ||
| 132 | |131 |00:11:17 ~-~-> 00:11:22 |model, because that will yield you the results, you coloring outside the lines | ||
| 133 | |132 |00:11:22 ~-~-> 00:11:29 |is not you following the rules. The winds that you make outside of your | ||
| 134 | |133 |00:11:29 ~-~-> 00:11:36 |model are not to be celebrated. That's you cheating on your wife and getting | ||
| 135 | |134 |00:11:36 ~-~-> 00:11:43 |away with it. That doesn't mean keep doing it. Or it's good because it her | ||
| 136 | |135 |00:11:43 ~-~-> 00:11:47 |feelings didn't get hurt, or vice versa. And I'm giving an extreme that maybe it | ||
| 137 | |136 |00:11:47 ~-~-> 00:11:52 |doesn't fit, you have a sense of an analogy, but in my mind, you are | ||
| 138 | |137 |00:11:52 ~-~-> 00:12:02 |cheating on the model. You're not giving it time, energy focus that it requires. | ||
| 139 | |138 |00:12:03 ~-~-> 00:12:09 |that it deserves. I took the time to sit down and write this model up, gave him | ||
| 140 | |139 |00:12:09 ~-~-> 00:12:13 |the rule based ideas that he has to follow any deviations outside of that if | ||
| 141 | |140 |00:12:13 ~-~-> 00:12:20 |it's a win, I don't give a fuck about that when that doesn't matter. That is a | ||
| 142 | |141 |00:12:20 ~-~-> 00:12:26 |losing trade to me. It doesn't mean shit to me. How can you measure that? That's | ||
| 143 | |142 |00:12:26 ~-~-> 00:12:30 |not part of the the equation here. It's outside of the logic. So you can't | ||
| 144 | |143 |00:12:30 ~-~-> 00:12:35 |champion it. You can't give it its props and say, yeah, look at this. Because it | ||
| 145 | |144 |00:12:35 ~-~-> 00:12:41 |should about that. And that's what some of you might be doing. In your early | ||
| 146 | |145 |00:12:41 ~-~-> 00:12:44 |stages of your progress. You're doing things outside of a model. And when you | ||
| 147 | |146 |00:12:44 ~-~-> 00:12:49 |when it's gained its profit. I feel good. Yeah, well, this is what I want to | ||
| 148 | |147 |00:12:49 ~-~-> 00:12:53 |do. And to make it feel better, because even though I know I feel a little | ||
| 149 | |148 |00:12:53 ~-~-> 00:12:54 |guilty about because I didn't really know what the hell I was doing it, it | ||
| 150 | |149 |00:12:54 ~-~-> 00:12:59 |worked for me, I'm going to share it on social media. Because if I get some | ||
| 151 | |150 |00:12:59 ~-~-> 00:13:05 |likes, that dopamine hit over compensate for the fucking things I'm feeling that | ||
| 152 | |151 |00:13:05 ~-~-> 00:13:10 |are rooted in guilt in reality that wasn't really rooted on any logic or | ||
| 153 | |152 |00:13:10 ~-~-> 00:13:17 |model. It just happened to work out that time. So the facts are, my son beat the | ||
| 154 | |153 |00:13:17 ~-~-> 00:13:21 |statistics. He went out there. And not only did he get on the other side of | ||
| 155 | |154 |00:13:21 ~-~-> 00:13:27 |those seven, losing attempts to try to get a funded account. He went out there | ||
| 156 | |155 |00:13:27 ~-~-> 00:13:32 |and got three of them one time he used all three of them at the same time. And | ||
| 157 | |156 |00:13:32 ~-~-> 00:13:42 |then pass them off. Then told me he's I want to use one of them. And just try to | ||
| 158 | |157 |00:13:42 ~-~-> 00:13:50 |see if I can do what you're saying. Ultimately, he showed progress. He had | ||
| 159 | |158 |00:13:50 ~-~-> 00:13:55 |days where he did we were supposed to do, but didn't do it all the time. In | ||
| 160 | |159 |00:13:55 ~-~-> 00:14:00 |DaVinci caught up with him in on Friday, he burned the last 800 hours. And his | ||
| 161 | |160 |00:14:00 ~-~-> 00:14:04 |logic was I don't care, because I'm gonna start a new one. And I didn't do | ||
| 162 | |161 |00:14:04 ~-~-> 00:14:08 |what I was supposed to do with this one. So I got two payouts. I took something | ||
| 163 | |162 |00:14:08 ~-~-> 00:14:13 |from it in experience, and I got paid. So I look at it as it's a win win for me | ||
| 164 | |163 |00:14:13 ~-~-> 00:14:18 |that like, well, I guess that's a good way of looking at it. But if you don't | ||
| 165 | |164 |00:14:18 ~-~-> 00:14:23 |take what you learned from this one, it's going to repeat itself in the | ||
| 166 | |165 |00:14:23 ~-~-> 00:14:28 |second one, and the third one. And then if you blow them, guess what you have to | ||
| 167 | |166 |00:14:28 ~-~-> 00:14:32 |do? You have to start a new one or do something else. So what's your plan? | ||
| 168 | |167 |00:14:34 ~-~-> 00:14:37 |Because I want to trade with one micro contract like you were telling me to do | ||
| 169 | |168 |00:14:37 ~-~-> 00:14:41 |in the beginning. I wish I would have listened to that. But another way I | ||
| 170 | |169 |00:14:41 ~-~-> 00:14:45 |liked the fact that I did what I did, because I made 50 $140 I got two | ||
| 171 | |170 |00:14:45 ~-~-> 00:14:49 |payouts. And I did it all in one month. And for me that feels it feels great. | ||
| 172 | |171 |00:14:49 ~-~-> 00:14:53 |And I'm like, I'm proud of you. In that regard. I'm proud. I'm proud that you | ||
| 173 | |172 |00:14:53 ~-~-> 00:14:58 |now are inspired to do it. So the facts are he has now been bitten legitimately. | ||
| 174 | |173 |00:14:58 ~-~-> 00:15:04 |He'll never not trade now. he'll never, he'll never not want to do this. And | ||
| 175 | |174 |00:15:04 ~-~-> 00:15:10 |that's what I want. I want all my kids to have that. Now, it's $1,540. A lot of | ||
| 176 | |175 |00:15:10 ~-~-> 00:15:14 |money. Fuck no, it's not a lot of money. Literally, it's not. I spent more than | ||
| 177 | |176 |00:15:14 ~-~-> 00:15:17 |that at Target last night buying shit that my wife doesn't need. So the point | ||
| 178 | |177 |00:15:17 ~-~-> 00:15:24 |is the $1,540 is literally nothing. But from my perspective as his dad, I see | ||
| 179 | |178 |00:15:24 ~-~-> 00:15:28 |him doing something that I want all my kids to do what I've spent my entire | ||
| 180 | |179 |00:15:28 ~-~-> 00:15:36 |life in pursuit and perfecting. He did it. He canceled all the bullshit, that | ||
| 181 | |180 |00:15:36 ~-~-> 00:15:41 |people say that this stuff doesn't work, that you have to have a overcomplicated | ||
| 182 | |181 |00:15:41 ~-~-> 00:15:44 |approach that doesn't have any statistical probability and you lose | ||
| 183 | |182 |00:15:44 ~-~-> 00:15:48 |money trading on ICT, Smart Money concepts. My 18 year old son went out | ||
| 184 | |183 |00:15:48 ~-~-> 00:15:54 |there, and literally on his own effort, did everything, his own money from his | ||
| 185 | |184 |00:15:55 ~-~-> 00:16:02 |coffee shop job, went down to negative balance, paying for him in between his | ||
| 186 | |185 |00:16:02 ~-~-> 00:16:08 |paychecks. I did not give him any money. I would not pay him for it. And Michael | ||
| 187 | |186 |00:16:09 ~-~-> 00:16:11 |Trump stops up or talks if he would listen, it's not it's not a knock | ||
| 188 | |187 |00:16:11 ~-~-> 00:16:14 |against you, it would have been any other company, I would not give him | ||
| 189 | |188 |00:16:14 ~-~-> 00:16:20 |money to do that. I would love for him to prove for at least six months that | ||
| 190 | |189 |00:16:20 ~-~-> 00:16:24 |he's consistently profitable using a demo account, I would have put 50,000 | ||
| 191 | |190 |00:16:24 ~-~-> 00:16:28 |hours in an account. Real money, I would have done it. No problem not not even | ||
| 192 | |191 |00:16:28 ~-~-> 00:16:33 |batting an eye worrying about it. That's the route I was gonna go. They had to | ||
| 193 | |192 |00:16:33 ~-~-> 00:16:37 |prove to me, but he wants to go out there and do prove it to the world type | ||
| 194 | |193 |00:16:37 ~-~-> 00:16:46 |shit, you vigilante. Mentor, son, okay, he's got he's got it in his head. He | ||
| 195 | |194 |00:16:46 ~-~-> 00:16:49 |wants to do that kind of stuff. Which is, I guess if that's what you need for | ||
| 196 | |195 |00:16:49 ~-~-> 00:16:52 |motivation, whatever. Now he's motivated by something else that the facts are. He | ||
| 197 | |196 |00:16:52 ~-~-> 00:16:56 |doesn't want to worry about what other people think anymore. He wants to get | ||
| 198 | |197 |00:16:57 ~-~-> 00:17:02 |better at what he's doing. Because now that I know, I can do this. And I can | ||
| 199 | |198 |00:17:02 ~-~-> 00:17:06 |see where I messed up. In the days that I went back in when I had already made | ||
| 200 | |199 |00:17:06 ~-~-> 00:17:14 |money. Like, for instance, he had 13 days. 13 days of consistently winning, | ||
| 201 | |200 |00:17:15 ~-~-> 00:17:22 |he had up $180 that day. He said I just wanted to get it to 200. That's all I | ||
| 202 | |201 |00:17:22 ~-~-> 00:17:28 |wanted to do is is the bumper to 220 bucks that that's like, I'm not laughing | ||
| 203 | |202 |00:17:28 ~-~-> 00:17:32 |at you son did make funny, but I can't tell you how many times over my career | ||
| 204 | |203 |00:17:32 ~-~-> 00:17:37 |when I was trying to just get to that target for today. And then Murphy's law | ||
| 205 | |204 |00:17:37 ~-~-> 00:17:42 |comes in whatever can happen wrong, it will. Okay, that's exactly what happens | ||
| 206 | |205 |00:17:42 ~-~-> 00:17:50 |in that small, little tiny $20 Target turns you into a losing day. And if | ||
| 207 | |206 |00:17:50 ~-~-> 00:17:54 |you're weak, if you're not disciplined that losing trade net losing day turns | ||
| 208 | |207 |00:17:54 ~-~-> 00:17:59 |into a blown account. And that's exactly what he did. He went to a max loss day, | ||
| 209 | |208 |00:17:59 ~-~-> 00:18:07 |over 20 bucks. Son, that is not failure. That's what everybody goes through. | ||
| 210 | |209 |00:18:08 ~-~-> 00:18:14 |That's part of it. That's a growing pain, every trader, every single fucking | ||
| 211 | |210 |00:18:14 ~-~-> 00:18:18 |trader, male woman, child, you know, whatever is human, they're going to do | ||
| 212 | |211 |00:18:18 ~-~-> 00:18:23 |things that they know they're not supposed to do. Okay, as a trader, we | ||
| 213 | |212 |00:18:23 ~-~-> 00:18:27 |know we shouldn't push the envelope and we know and he knew at the same time | ||
| 214 | |213 |00:18:27 ~-~-> 00:18:32 |because he admitted that he was I knew it's not a big deal, but I just wanted | ||
| 215 | |214 |00:18:32 ~-~-> 00:18:37 |to get there. I wanted to get that $200 mark, because every day, he was striving | ||
| 216 | |215 |00:18:37 ~-~-> 00:18:41 |to get 200 hours or more. And he was doing it day after day after day after | ||
| 217 | |216 |00:18:41 ~-~-> 00:18:45 |day, but I told him and I even tweeted two days before he did this. This is the | ||
| 218 | |217 |00:18:45 ~-~-> 00:18:56 |time when you stop you stop sit still let the advancement experienced progress | ||
| 219 | |218 |00:18:56 ~-~-> 00:19:05 |the money that you've earned. Let it find its way in you and relish it just | ||
| 220 | |219 |00:19:05 ~-~-> 00:19:09 |really enjoy the fact that you did it. Let there be time between you hitting | ||
| 221 | |220 |00:19:09 ~-~-> 00:19:15 |that $3,000 mark that you were your was your goal. That's great. You already | ||
| 222 | |221 |00:19:16 ~-~-> 00:19:20 |paid out $740 It was more money than he earns after taxes at his job. | ||
| 223 | |222 |00:19:23 ~-~-> 00:19:28 |He's proven that he can do it. It's it can be done. He was following the model. | ||
| 224 | |223 |00:19:29 ~-~-> 00:19:36 |But when the small little trivial things come in these little tiny little it's | ||
| 225 | |224 |00:19:36 ~-~-> 00:19:41 |not enough. When you're on social media, you give it to the social media | ||
| 226 | |225 |00:19:41 ~-~-> 00:19:45 |assholes. feed the trolls give attention to people make it available invite other | ||
| 227 | |226 |00:19:45 ~-~-> 00:19:51 |people to give you their criticism. There always going to be some some guy | ||
| 228 | |227 |00:19:51 ~-~-> 00:19:56 |this fucking Reddit this morning. Almost one off on him. Tell me your son should | ||
| 229 | |228 |00:19:56 ~-~-> 00:20:00 |make more money than that. Get the fuck outta here. My fucking son Next year is | ||
| 230 | |229 |00:20:00 ~-~-> 00:20:03 |gonna make your whole fucking lifetime of fucking money. Get the fuck out of | ||
| 231 | |230 |00:20:03 ~-~-> 00:20:09 |here with that bullshit. Okay, believe me, I'm giving him a Nygma okay, I'm | ||
| 232 | |231 |00:20:09 ~-~-> 00:20:13 |giving it to him. I'm literally going to turn him into a fucking Rockstar. This | ||
| 233 | |232 |00:20:13 ~-~-> 00:20:17 |motherfucker is going to be absolutely insane. Okay, he's showing me that he | ||
| 234 | |233 |00:20:17 ~-~-> 00:20:23 |wants to do it now. That's all I needed. That's all I fucking needed. And now I | ||
| 235 | |234 |00:20:23 ~-~-> 00:20:28 |have it. He's tasted on his own effort with the least of what I have the least | ||
| 236 | |235 |00:20:29 ~-~-> 00:20:34 |of what I have. I'm giving him the whole fucking shebang, the whole fucking | ||
| 237 | |236 |00:20:34 ~-~-> 00:20:41 |arsenal, I'm giving him everything. You will know this motherfucker. You will | ||
| 238 | |237 |00:20:41 ~-~-> 00:20:51 |know his name and he will be recognized. The Beast will be unleashed. He wants to | ||
| 239 | |238 |00:20:51 ~-~-> 00:20:58 |walk that walk. I'm gonna give them every fucking weapons. Tommy, my fucking | ||
| 240 | |239 |00:20:58 ~-~-> 00:21:04 |son sort of made his 18 One month experience beat the statistics in the | ||
| 241 | |240 |00:21:04 ~-~-> 00:21:10 |Prop firm industry to payouts three carbines past 12 days consecutive | ||
| 242 | |241 |00:21:10 ~-~-> 00:21:17 |consecutively winning had the 13th day in his pocket if I would have told him | ||
| 243 | |242 |00:21:18 ~-~-> 00:21:23 |that the the rate or the high end was the 14 day watermark that was the high | ||
| 244 | |243 |00:21:23 ~-~-> 00:21:26 |end that tops that said since they started doing their live streams. No one | ||
| 245 | |244 |00:21:26 ~-~-> 00:21:31 |had done it more than 14 days now I'm sure there's probably more people prior | ||
| 246 | |245 |00:21:31 ~-~-> 00:21:36 |to that. Matter of fact, there was a guy that they were making a record out that | ||
| 247 | |246 |00:21:36 ~-~-> 00:21:41 |he had a really good strike rate but was it every single day? I don't know I | ||
| 248 | |247 |00:21:41 ~-~-> 00:21:48 |don't recall it that much. But he had 13 days and if I would have told him the 14 | ||
| 249 | |248 |00:21:48 ~-~-> 00:21:54 |day if you just do that and go one day pass that you beat it like that if you | ||
| 250 | |249 |00:21:54 ~-~-> 00:21:56 |want to have challenges or whatever treat it like a video game like | ||
| 251 | |250 |00:21:56 ~-~-> 00:22:00 |fortnight challenge or Call of Duty challenge whatever. You got to done it. | ||
| 252 | |251 |00:22:01 ~-~-> 00:22:05 |He was he I guarantee he was stopped at that one ad because it would have nailed | ||
| 253 | |252 |00:22:05 ~-~-> 00:22:09 |it because when he told me he was at one ad sent me a tweet and said from that | ||
| 254 | |253 |00:22:09 ~-~-> 00:22:15 |tweet text said that I'm on one ad and I'm thinking he's in a trade he's | ||
| 255 | |254 |00:22:15 ~-~-> 00:22:21 |watching it flash. I just here's a smiley face back to you. I'm not trying | ||
| 256 | |255 |00:22:21 ~-~-> 00:22:25 |to control his trades. He needs to do this on his own. And when he wins he's | ||
| 257 | |256 |00:22:25 ~-~-> 00:22:32 |earned it when he's lost he eats it that's the facts. Some of you don't want | ||
| 258 | |257 |00:22:32 ~-~-> 00:22:37 |it that way but that's the way it needs to be so in a way I kind of woke up this | ||
| 259 | |258 |00:22:37 ~-~-> 00:22:41 |morning pissed off thinking about how I wish I would have told him you know I | ||
| 260 | |259 |00:22:41 ~-~-> 00:22:45 |got to do is get 15 days if you do 15 days you basically smashed everything | ||
| 261 | |260 |00:22:45 ~-~-> 00:22:50 |then it doesn't matter how much money you made it doesn't make any difference | ||
| 262 | |261 |00:22:50 ~-~-> 00:22:55 |because you chose the smallest of the of the challenges you had a $50,000 account | ||
| 263 | |262 |00:22:55 ~-~-> 00:23:01 |with only $2,000 drawdown and you had stats that were highly respectable and | ||
| 264 | |263 |00:23:01 ~-~-> 00:23:05 |equity curve that every guy wants out there. That motherfucker looked like | ||
| 265 | |264 |00:23:05 ~-~-> 00:23:13 |Viagra it was beautiful beautiful perfect stair stepping each day that's | ||
| 266 | |265 |00:23:13 ~-~-> 00:23:18 |exactly what I want to see you trading like just like that not vertical fucking | ||
| 267 | |266 |00:23:18 ~-~-> 00:23:21 |like the backslash on a keyboard that's my equity curve if I want to go out and | ||
| 268 | |267 |00:23:21 ~-~-> 00:23:24 |show you a quicker that's what lines would look like and you won't believe it | ||
| 269 | |268 |00:23:24 ~-~-> 00:23:28 |and it'll keep people still talking about dumb shit. But as a brand new one | ||
| 270 | |269 |00:23:28 ~-~-> 00:23:33 |month trader 18 years old, no fucking experience and just lost seven compounds | ||
| 271 | |270 |00:23:33 ~-~-> 00:23:37 |trying to do it with no idea what he's doing. Guess what Joker he's done | ||
| 272 | |271 |00:23:37 ~-~-> 00:23:44 |amazingly well experience his baton from this is going to serve him exceedingly | ||
| 273 | |272 |00:23:44 ~-~-> 00:23:49 |well. Now he knows this is the tendency I feel when I feel this way this is what | ||
| 274 | |273 |00:23:49 ~-~-> 00:23:54 |I've done in the past and this was the adverse result. So therefore, I now have | ||
| 275 | |274 |00:23:54 ~-~-> 00:24:01 |a reason to be apprehensive about doing that Impulsive Desire is it inside mine | ||
| 276 | |275 |00:24:02 ~-~-> 00:24:07 |is inside my model is it inside my process my protocol? What is I'm doing | ||
| 277 | |276 |00:24:07 ~-~-> 00:24:12 |in trading? Does it fit what it is I try to do as a trader? Is it fit my risk | ||
| 278 | |277 |00:24:12 ~-~-> 00:24:17 |model? Am I allowed to trade that? I've already taken a trade and even though it | ||
| 279 | |278 |00:24:17 ~-~-> 00:24:21 |didn't hit what I want to trade in reach for the day the trade is closed the | ||
| 280 | |279 |00:24:21 ~-~-> 00:24:25 |rules are you stop you get the fuck out of there close up market down done you | ||
| 281 | |280 |00:24:25 ~-~-> 00:24:30 |can't look at it no more. Go put your phone in the fucking car so that way you | ||
| 282 | |281 |00:24:30 ~-~-> 00:24:33 |won't be touching it while you're at work. Remember he's doing this while | ||
| 283 | |282 |00:24:33 ~-~-> 00:24:40 |he's working. Add that add that to all this shit. He's doing it on a fucking | ||
| 284 | |283 |00:24:40 ~-~-> 00:24:47 |phone. Come on, but a new job. Want a new job? A new learning design a new | ||
| 285 | |284 |00:24:48 ~-~-> 00:24:54 |HVAC must have learned how to do it so you can open his own business doing it. | ||
| 286 | |285 |00:24:55 ~-~-> 00:25:03 |I love it. And he did all that at the same time. So I'm trying to tell you, if | ||
| 287 | |286 |00:25:03 ~-~-> 00:25:09 |he can do it that way. With no extra help from me, there was nothing extra | ||
| 288 | |287 |00:25:09 ~-~-> 00:25:17 |given to him. Nothing. If he can do that, why are you doubting yourself? Why | ||
| 289 | |288 |00:25:17 ~-~-> 00:25:21 |are you not willing to sit down and put yourself through the same process, you | ||
| 290 | |289 |00:25:21 ~-~-> 00:25:23 |don't have to do a funded account challenge, you don't have to get funded, | ||
| 291 | |290 |00:25:24 ~-~-> 00:25:28 |just do it with your demo. Stick to it gave you the rest of the year, the | ||
| 292 | |291 |00:25:28 ~-~-> 00:25:36 |challenge yourself, stick to that model, try to just do that. He aims for 12 to | ||
| 293 | |292 |00:25:36 ~-~-> 00:25:45 |15 handles, if he can get it great. And then he wants to bump up to 20. After we | ||
| 294 | |293 |00:25:45 ~-~-> 00:25:50 |did that, we were going to do 25 We got to that we're gonna look for 30, we got | ||
| 295 | |294 |00:25:50 ~-~-> 00:25:55 |to that 35, the goal was to get into 50. And then plateau there for the rest of | ||
| 296 | |295 |00:25:55 ~-~-> 00:25:57 |the year, just just try for that | ||
| 297 | |296 |00:26:04 ~-~-> 00:26:12 |his inexperience the least of room that you could have ever possibly have, is | ||
| 298 | |297 |00:26:12 ~-~-> 00:26:18 |when you take the money out. They they put your their trailing stop loss thing, | ||
| 299 | |298 |00:26:18 ~-~-> 00:26:23 |whatever it is, max loss day, something like that. When they stop you from | ||
| 300 | |299 |00:26:23 ~-~-> 00:26:29 |trading for the day, all that changes to you, whatever you got left, basically. | ||
| 301 | |300 |00:26:30 ~-~-> 00:26:34 |And when he took the second pay up his his thought processes this that I could | ||
| 302 | |301 |00:26:34 ~-~-> 00:26:42 |take more trades with $1,600 in the account, left. But what happens if I | ||
| 303 | |302 |00:26:42 ~-~-> 00:26:47 |don't do what I'm supposed to do? I already know its likelihood. So it's | ||
| 304 | |303 |00:26:47 ~-~-> 00:26:51 |better for me to take $100 And then do whatever I want to do with it. And | ||
| 305 | |304 |00:26:51 ~-~-> 00:26:58 |horses left, I got two payouts. To me 1500 hours is a lot. And I did two of | ||
| 306 | |305 |00:26:58 ~-~-> 00:27:02 |them. And it feels good to do that. So that way, it removes any emotions that I | ||
| 307 | |306 |00:27:02 ~-~-> 00:27:05 |have on that last day and on hearts because I know I'm going to I'm going to | ||
| 308 | |307 |00:27:05 ~-~-> 00:27:09 |open up the two remaining funded accounts that he has that hasn't | ||
| 309 | |308 |00:27:09 ~-~-> 00:27:14 |executed them, or what he called activated them. That's what he intended | ||
| 310 | |309 |00:27:14 ~-~-> 00:27:18 |to do. So he'll have two new ones that he already earned. He didn't work for | ||
| 311 | |310 |00:27:18 ~-~-> 00:27:24 |them now because he lost this one there in his pocket. He didn't do a linking of | ||
| 312 | |311 |00:27:24 ~-~-> 00:27:30 |all three of them and compound his losses. He made an attempt to go okay, | ||
| 313 | |312 |00:27:30 ~-~-> 00:27:36 |I'm going to do this. He put thought behind it, which I'm proud of. I'm glad | ||
| 314 | |313 |00:27:36 ~-~-> 00:27:45 |to see him do that. Even though he got paid out twice, he burned it. He has two | ||
| 315 | |314 |00:27:45 ~-~-> 00:27:50 |that he can now resume with. He's been paid. So the activation fees he has to | ||
| 316 | |315 |00:27:50 ~-~-> 00:27:56 |pay on them still he's profitable. Everybody else that tries to do these | ||
| 317 | |316 |00:27:56 ~-~-> 00:28:02 |things can't say that much. That's the facts. So when the facts speak for | ||
| 318 | |317 |00:28:02 ~-~-> 00:28:07 |themselves, that yes, this stuff works. Yes, you can be young and inexperienced | ||
| 319 | |318 |00:28:07 ~-~-> 00:28:16 |and still have a very simple model. But do you have discipline the following? Do | ||
| 320 | |319 |00:28:16 ~-~-> 00:28:20 |you have the discipline to do what it is you're supposed to do and stop when | ||
| 321 | |320 |00:28:20 ~-~-> 00:28:27 |you're supposed to stop? They bumped him up to five contracts, you can now trade | ||
| 322 | |321 |00:28:27 ~-~-> 00:28:32 |five contracts. And that's what he fell victim to when he was doing his combine. | ||
| 323 | |322 |00:28:32 ~-~-> 00:28:36 |He was trying to do the $150,000 account. And he was trading with 15 | ||
| 324 | |323 |00:28:36 ~-~-> 00:28:40 |contracts because it says you can trade up to 15 contracts. He didn't do the | ||
| 325 | |324 |00:28:40 ~-~-> 00:28:43 |math he didn't think about he didn't know what to experience. The normal | ||
| 326 | |325 |00:28:43 ~-~-> 00:28:52 |volatility of NASDAQ, mannequins flutter around in seconds 1015 handles and be | ||
| 327 | |326 |00:28:52 ~-~-> 00:29:00 |nowhere still. You can't be trading with 15 Fucking contracts. Okay, you can't do | ||
| 328 | |327 |00:29:00 ~-~-> 00:29:07 |that $300 per point or handle in a market that can fluctuate just in static | ||
| 329 | |328 |00:29:07 ~-~-> 00:29:13 |noise. Okay, and I said that with conviction, when it's just just gyrating | ||
| 330 | |329 |00:29:13 ~-~-> 00:29:20 |normally, in a one minute candle, it can flutter around and you can be up or down | ||
| 331 | |330 |00:29:21 ~-~-> 00:29:28 |1000s of dollars. When you don't have any experience, or the grasp of money, | ||
| 332 | |331 |00:29:30 ~-~-> 00:29:35 |the value of money he was just discovering it as a as a employee at a | ||
| 333 | |332 |00:29:35 ~-~-> 00:29:40 |coffee shop. Prior to that any money he ever had was given to him a Christmas or | ||
| 334 | |333 |00:29:40 ~-~-> 00:29:46 |a birthday car that he doesn't have any real tangible clue what the value of | ||
| 335 | |334 |00:29:46 ~-~-> 00:29:52 |money is. He was earning that learning it and when you put him into a situation | ||
| 336 | |335 |00:29:52 ~-~-> 00:29:55 |and put yourself in a situation like this, where you have the ability to see | ||
| 337 | |336 |00:29:56 ~-~-> 00:30:02 |wow, if I close the trade at that moment, I can be up $1,000 I can be up | ||
| 338 | |337 |00:30:02 ~-~-> 00:30:08 |$5,000 in less than five minutes. What's he going to do? What are you going to | ||
| 339 | |338 |00:30:08 ~-~-> 00:30:12 |do? You're going to try to do that every single time. And that's how they get | ||
| 340 | |339 |00:30:12 ~-~-> 00:30:20 |you. That's how this industry gets you. That's how your broker gets you. And I'm | ||
| 341 | |340 |00:30:20 ~-~-> 00:30:25 |trying to be the voice of reason. So okay. There's a day and a time for you | ||
| 342 | |341 |00:30:25 ~-~-> 00:30:32 |to be making $5,000 in trades there is. It says that today. You need to be | ||
| 343 | |342 |00:30:32 ~-~-> 00:30:39 |comfortable in humble in the beginning, trading with one micro law trying to get | ||
| 344 | |343 |00:30:39 ~-~-> 00:30:46 |those 10 handles graduate to 15 handles, can you get 20? Can you consistently do | ||
| 345 | |344 |00:30:46 ~-~-> 00:30:54 |20 Each day can you do 20 handles? If you can do that, all you're doing then | ||
| 346 | |345 |00:30:55 ~-~-> 00:31:00 |is then getting accustomed to now trading with two micros that's $10 per | ||
| 347 | |346 |00:31:00 ~-~-> 00:31:06 |point if it's a yes, or $4 if it's a NASDAQ. But I can't get rich that way. | ||
| 348 | |347 |00:31:06 ~-~-> 00:31:10 |Who the fuck says you can get rich? Who said that? You just did nobody else told | ||
| 349 | |348 |00:31:10 ~-~-> 00:31:14 |you that you got in your head that you need to be rich overnight, and nobody's | ||
| 350 | |349 |00:31:14 ~-~-> 00:31:18 |doing that in trading anyway. Why the hell you think you're gonna be the one | ||
| 351 | |350 |00:31:18 ~-~-> 00:31:29 |that's gonna do it? Listen, all the Lambos all the Lexus, Mercedes Benz, the | ||
| 352 | |351 |00:31:29 ~-~-> 00:31:34 |bullshit Audi's all that stuff. You can lease them for pennies on the fucking | ||
| 353 | |352 |00:31:34 ~-~-> 00:31:40 |dollar and have a write off. Okay, all that stuff is easily obtained. You don't | ||
| 354 | |353 |00:31:40 ~-~-> 00:31:43 |need to have that to encourage you as a trader to get the attention of other | ||
| 355 | |354 |00:31:43 ~-~-> 00:31:47 |people. You're a trader. You're driving a leased vehicle. And there's nothing | ||
| 356 | |355 |00:31:47 ~-~-> 00:31:52 |there's no knock against the lease. When I was running the mentorship, my | ||
| 357 | |356 |00:31:52 ~-~-> 00:31:58 |Corvettes were being well, let me put this way. The 2019 was a lease. When I | ||
| 358 | |357 |00:31:58 ~-~-> 00:32:06 |finished the lease, I paid it out. I own it. That's why it's still here. I got it | ||
| 359 | |358 |00:32:06 ~-~-> 00:32:10 |in 2018. Guess what, folks? If it was a lease, it would have already been turned | ||
| 360 | |359 |00:32:10 ~-~-> 00:32:15 |in and it's still here with me. I own all my cars. But that lease allowed me | ||
| 361 | |360 |00:32:15 ~-~-> 00:32:24 |to write off $1,300 100% right off. You as an employee of whatever company you | ||
| 362 | |361 |00:32:24 ~-~-> 00:32:28 |work for your car payment, your car note you have to eat that that's not a write | ||
| 363 | |362 |00:32:28 ~-~-> 00:32:34 |off for you. It's what you do with your money. How are you? Are you financially | ||
| 364 | |363 |00:32:34 ~-~-> 00:32:40 |literate? He's illiterate. He's learning literacy. Okay with money, he's learning | ||
| 365 | |364 |00:32:40 ~-~-> 00:32:46 |it. My son will be making lots of money. My son will be a multi fucking | ||
| 366 | |365 |00:32:46 ~-~-> 00:32:50 |millionaire from his own trading. So don't give me your fucking report cards | ||
| 367 | |366 |00:32:50 ~-~-> 00:32:54 |what he should be doing what he should have done in one fucking month. Okay, | ||
| 368 | |367 |00:32:54 ~-~-> 00:32:57 |one month, he's already kicked the shit out the statistics in the proper | ||
| 369 | |368 |00:32:57 ~-~-> 00:33:02 |ministry. He literally beat it's fucking as I'm sorry, that's not what this | ||
| 370 | |369 |00:33:02 ~-~-> 00:33:06 |Twitter space is about. But it just got on my skin. Like who the fuck are you to | ||
| 371 | |370 |00:33:06 ~-~-> 00:33:13 |even comment on my son. But nonetheless, when you do the things I'm telling you | ||
| 372 | |371 |00:33:13 ~-~-> 00:33:18 |to do, and you subscribe to The, the mindset I'm trying to cultivate in you. | ||
| 373 | |372 |00:33:19 ~-~-> 00:33:23 |Okay? Hourly, if your first time coming to a live event here and you're | ||
| 374 | |373 |00:33:23 ~-~-> 00:33:28 |listening to me. It sounds abrasive. It sounds toxic. It sounds toxic | ||
| 375 | |374 |00:33:28 ~-~-> 00:33:33 |masculinity. I don't wear a maga hat. Okay, I didn't vote for Trump, in case | ||
| 376 | |375 |00:33:33 ~-~-> 00:33:38 |you're wondering. But I do believe in the Constitution. And anything that goes | ||
| 377 | |376 |00:33:38 ~-~-> 00:33:40 |on right now today, it's not the Constitution, I think should be | ||
| 378 | |377 |00:33:40 ~-~-> 00:33:43 |abolished, and the people should be taken out the office. And that's the | ||
| 379 | |378 |00:33:43 ~-~-> 00:33:46 |extent of that, I put that in there. Because I know some of you are | ||
| 380 | |379 |00:33:46 ~-~-> 00:33:50 |wondering, what do I Where do I stand and all that stuff. I don't want to have | ||
| 381 | |380 |00:33:50 ~-~-> 00:33:57 |a political slant when I'm talking to you. But the facts are this, when you | ||
| 382 | |381 |00:33:57 ~-~-> 00:34:05 |submit yourself to a role based idea, you now have a Petri dish that you've | ||
| 383 | |382 |00:34:05 ~-~-> 00:34:11 |placed yourself in. And it's it's a controlled environment, that you're | ||
| 384 | |383 |00:34:11 ~-~-> 00:34:15 |willingly placing yourself and you can walk out of there anytime you want. But | ||
| 385 | |384 |00:34:15 ~-~-> 00:34:22 |to do so, exhibits, what a lack of discipline. The whole point is for you | ||
| 386 | |385 |00:34:22 ~-~-> 00:34:26 |to develop discipline, how do you do that? By playing a role based, | ||
| 387 | |386 |00:34:27 ~-~-> 00:34:33 |controlled environment. You can only do this, you can never do this. And you can | ||
| 388 | |387 |00:34:33 ~-~-> 00:34:38 |only do it this time and never that time. You can only look at this market. | ||
| 389 | |388 |00:34:38 ~-~-> 00:34:42 |You can only do this in price. If it does this, you cannot do anything else. | ||
| 390 | |389 |00:34:42 ~-~-> 00:34:45 |Once you press the button one time when you get out of that trade, whether it's | ||
| 391 | |390 |00:34:45 ~-~-> 00:34:49 |good or bad. You cannot press that button again until another 24 hours have | ||
| 392 | |391 |00:34:49 ~-~-> 00:34:56 |passed. So do you have the discipline to do that? My question today is do you | ||
| 393 | |392 |00:34:56 ~-~-> 00:35:05 |have that discipline to do that? For at least 20 trading days. Some of you can't | ||
| 394 | |393 |00:35:05 ~-~-> 00:35:10 |even do it one. And I know I was like that I know exactly what that feels | ||
| 395 | |394 |00:35:10 ~-~-> 00:35:15 |like. It feels like I could be doing this so much is so counterproductive. | ||
| 396 | |395 |00:35:15 ~-~-> 00:35:18 |This is counterintuitive. I should be doing it. No, no, no, no, no, no, no, | ||
| 397 | |396 |00:35:18 ~-~-> 00:35:24 |no, no, no, no, no. You want to learn how to make money. You want to learn how | ||
| 398 | |397 |00:35:24 ~-~-> 00:35:26 |to trade, you want to learn how to trade consistently, you want to be able to | ||
| 399 | |398 |00:35:26 ~-~-> 00:35:30 |control your emotions, control, fear, greed, FOMO, all that stuff, all those | ||
| 400 | |399 |00:35:30 ~-~-> 00:35:33 |things. You're worrying about all those things, and I'm telling you how to be | ||
| 401 | |400 |00:35:33 ~-~-> 00:35:40 |all that stuff. Right here. My son encountered all that stuff. He saw what | ||
| 402 | |401 |00:35:40 ~-~-> 00:35:44 |it looks like to have money flashing in those trades. And he didn't close on | ||
| 403 | |402 |00:35:44 ~-~-> 00:35:50 |when he felt like he should have greed was touching him and saying you're on a | ||
| 404 | |403 |00:35:50 ~-~-> 00:35:57 |roll boy. Push your edge. You know, it's gonna go right up there. You know, it's | ||
| 405 | |404 |00:35:57 ~-~-> 00:36:01 |gonna go down. And if it does, you're gonna make $1,000 Your dad's gonna be so | ||
| 406 | |405 |00:36:01 ~-~-> 00:36:02 |proud of you. He's | ||
| 407 | |406 |00:36:02 ~-~-> 00:36:06 |gonna put your ass on Twitter. You're gonna be on blast. Imagine how good it's | ||
| 408 | |407 |00:36:06 ~-~-> 00:36:12 |gonna feel. And $1,000 It's $1,000. Don't you want to make that? $1,000? | ||
| 409 | |408 |00:36:13 ~-~-> 00:36:17 |Come on. Hold it a little bit longer. Yeah, yeah, the rules, say the close it | ||
| 410 | |409 |00:36:17 ~-~-> 00:36:21 |right here. But take the limit order off. Take it off. You don't need that. | ||
| 411 | |410 |00:36:21 ~-~-> 00:36:26 |It's holding you back. It's holding you back. Go a little bit further, just a | ||
| 412 | |411 |00:36:26 ~-~-> 00:36:29 |little bit further down the road. That's where the better destination is. That's | ||
| 413 | |412 |00:36:29 ~-~-> 00:36:37 |where all the cool cats hang out. It's over shit the bed tray turn around | ||
| 414 | |413 |00:36:37 ~-~-> 00:36:41 |Riverstone and become a losing trade. How many times you've been there? How | ||
| 415 | |414 |00:36:41 ~-~-> 00:36:47 |many times have you heard that voice? whispering in your ear? Don't Don't | ||
| 416 | |415 |00:36:47 ~-~-> 00:36:52 |Don't close it. Don't Don't do it. Don't close the trade. Go for more. Yeah, you | ||
| 417 | |416 |00:36:52 ~-~-> 00:36:55 |didn't think about that before you put the trade on. But look, you're smarter. | ||
| 418 | |417 |00:36:55 ~-~-> 00:36:59 |Now you're into trade? Yeah, you're smart now, aren't you? The only thing | ||
| 419 | |418 |00:36:59 ~-~-> 00:37:06 |smart is your asset hurts. The facts are, you have to submit yourself to a | ||
| 420 | |419 |00:37:06 ~-~-> 00:37:11 |whole lot uncomfortable things. And you have to defer gratification. And that's | ||
| 421 | |420 |00:37:11 ~-~-> 00:37:15 |what makes this hard. It makes it so hard. Because you want to have something | ||
| 422 | |421 |00:37:15 ~-~-> 00:37:21 |to hold your head on, to cling to as a reason to keep going. Okay, and the fact | ||
| 423 | |422 |00:37:21 ~-~-> 00:37:25 |that you're progressing, and doing things in a controlled environment, and | ||
| 424 | |423 |00:37:25 ~-~-> 00:37:30 |you're not losing the discipline, you're not doing things recklessly, you're not | ||
| 425 | |424 |00:37:30 ~-~-> 00:37:35 |demanding it to do more than you want it to do. And being content with that. That | ||
| 426 | |425 |00:37:35 ~-~-> 00:37:42 |is progress. That is immaculate, that is impeccable. That is the the cream of the | ||
| 427 | |426 |00:37:42 ~-~-> 00:37:45 |crop type of progress that you want to hold on to throughout your entire | ||
| 428 | |427 |00:37:45 ~-~-> 00:37:52 |career. Because number one, it's realistic. It's required to be having | ||
| 429 | |428 |00:37:52 ~-~-> 00:37:57 |any longevity in this industry, you have to be absolutely dialed in, and | ||
| 430 | |429 |00:37:57 ~-~-> 00:38:01 |filtering out all these intrusive thoughts of doing things that's outside | ||
| 431 | |430 |00:38:01 ~-~-> 00:38:07 |your model. And not allowing for circumstances that are outside of your | ||
| 432 | |431 |00:38:07 ~-~-> 00:38:14 |model to yield a profit that you can't boast about that you can't champion. You | ||
| 433 | |432 |00:38:14 ~-~-> 00:38:20 |can't parade around and say, Look what I did. Like Tom Hanks in the movie | ||
| 434 | |433 |00:38:20 ~-~-> 00:38:24 |outcast. Where he gets up there, he makes fire for the first time and he | ||
| 435 | |434 |00:38:24 ~-~-> 00:38:29 |starts beating us just look at me. I made fire. You know, funny scene, great | ||
| 436 | |435 |00:38:29 ~-~-> 00:38:33 |scene. But that's exactly what it feels like when you make money. And you don't | ||
| 437 | |436 |00:38:33 ~-~-> 00:38:36 |know what the fuck you did before? Like, how do you do that? I don't know. But | ||
| 438 | |437 |00:38:36 ~-~-> 00:38:41 |it's burning, it's fine. It's lit. Your look for anything to make yourself feel | ||
| 439 | |438 |00:38:41 ~-~-> 00:38:44 |good about that thing. But when you take a step back and think about what you did | ||
| 440 | |439 |00:38:45 ~-~-> 00:38:50 |to get there, how did it happen? I can't replicate that. So therefore, why are | ||
| 441 | |440 |00:38:50 ~-~-> 00:38:55 |you bragging about it? Tell nobody, you did it. And tell yourself in your | ||
| 442 | |441 |00:38:55 ~-~-> 00:39:02 |journal. This doesn't count. I should not be doing these things. And I'm going | ||
| 443 | |442 |00:39:02 ~-~-> 00:39:05 |to refrain from doing it. That's not beating yourself up. That's scolding | ||
| 444 | |443 |00:39:05 ~-~-> 00:39:10 |yourself without having any negative connotations added to it. Very, very | ||
| 445 | |444 |00:39:10 ~-~-> 00:39:17 |critical. You're gonna do it, folks. It's human nature. We're gonna do it. I | ||
| 446 | |445 |00:39:17 ~-~-> 00:39:22 |am an I am a very monogamous man. Okay, I've never went out on my wife, I would | ||
| 447 | |446 |00:39:22 ~-~-> 00:39:29 |never do that. Okay, I am a man true and true. I literally can appreciate a very | ||
| 448 | |447 |00:39:29 ~-~-> 00:39:33 |attractive woman. And truth be told, she's caught my eye wandering into the | ||
| 449 | |448 |00:39:33 ~-~-> 00:39:37 |southern hemisphere of a woman that may be attractive that walks by, I'm not | ||
| 450 | |449 |00:39:37 ~-~-> 00:39:42 |looking at an oogling over her. But it's just the way it is a dog's adult, right? | ||
| 451 | |450 |00:39:42 ~-~-> 00:39:44 |It doesn't mean I'm gonna go after her. It doesn't mean I'm gonna pursue it as | ||
| 452 | |451 |00:39:44 ~-~-> 00:39:48 |me I'm gonna give her the time of day, or even that it would be warranted to do | ||
| 453 | |452 |00:39:48 ~-~-> 00:39:53 |that. But she'll look at me she'll say, I saw that. And I'm like, it is | ||
| 454 | |453 |00:39:53 ~-~-> 00:39:57 |automated, right? I work by nature. We're going to do it until I get out of | ||
| 455 | |454 |00:39:57 ~-~-> 00:40:01 |this flesh. I'm going to sin Okay, it doesn't mean because I believe in | ||
| 456 | |455 |00:40:01 ~-~-> 00:40:05 |Christ, it doesn't believe doesn't mean that I am a Christian doesn't mean, I'm | ||
| 457 | |456 |00:40:05 ~-~-> 00:40:08 |walking on water and I'm holier than now, it just means that I have a | ||
| 458 | |457 |00:40:08 ~-~-> 00:40:10 |redeemer and have someone that can ask that, forgive me when I make those | ||
| 459 | |458 |00:40:10 ~-~-> 00:40:15 |mistakes and sin, until I leave this body, I'm gonna make mistakes. And as a | ||
| 460 | |459 |00:40:15 ~-~-> 00:40:19 |trader, you are going to do things that you know you shouldn't do or regret that | ||
| 461 | |460 |00:40:19 ~-~-> 00:40:23 |you did it. And experience will teach, you don't do that, again, those are the | ||
| 462 | |461 |00:40:23 ~-~-> 00:40:29 |two transactions that you have to submit to and accept the consequences of it. | ||
| 463 | |462 |00:40:30 ~-~-> 00:40:33 |And you can look at them and say, This is enough for me to never want to do it | ||
| 464 | |463 |00:40:33 ~-~-> 00:40:40 |again. And some do that. Some smarter people do that, if they know they will | ||
| 465 | |464 |00:40:40 ~-~-> 00:40:44 |never be able to wrestle themselves into submission, and build and forge | ||
| 466 | |465 |00:40:44 ~-~-> 00:40:50 |discipline, the best thing you can do is stop and never do it again. Limit your | ||
| 467 | |466 |00:40:50 ~-~-> 00:40:54 |losses to that and just say, You know what, I tried, I learned a lot about | ||
| 468 | |467 |00:40:54 ~-~-> 00:40:57 |myself, I don't have the discipline to do that. And if I kept doing it, I would | ||
| 469 | |468 |00:40:57 ~-~-> 00:41:03 |lose more money. That is a win. That is someone that is mature, and they | ||
| 470 | |469 |00:41:03 ~-~-> 00:41:06 |understand their limitations as a human being. And they said, This is not for | ||
| 471 | |470 |00:41:06 ~-~-> 00:41:10 |me. There it is, it's done. I'm gonna go do something else with my life. And | ||
| 472 | |471 |00:41:10 ~-~-> 00:41:15 |guess what? Life is slow, continue, it ain't gonna, it's not gonna put you in | ||
| 473 | |472 |00:41:15 ~-~-> 00:41:21 |the grave. You can't do this. That's one thing. But as traders, we can't imagine | ||
| 474 | |473 |00:41:21 ~-~-> 00:41:24 |doing anything but this for the rest of our life. And for some of you to have | ||
| 475 | |474 |00:41:24 ~-~-> 00:41:28 |that feeling right now, and you haven't found profitability yet, or consistency. | ||
| 476 | |475 |00:41:28 ~-~-> 00:41:31 |You've already you've already subscribed to that. That's your lifestyle. Now, | ||
| 477 | |476 |00:41:31 ~-~-> 00:41:34 |you're always going to be doing that you can't imagine yourself never doing this, | ||
| 478 | |477 |00:41:35 ~-~-> 00:41:39 |or not doing it rather. That's a characteristic. That's a trait and a | ||
| 479 | |478 |00:41:39 ~-~-> 00:41:43 |trader that needs to be there. If you can't imagine a time when you're not | ||
| 480 | |479 |00:41:43 ~-~-> 00:41:49 |doing this, inside of you, that's the person I'm trying to help you cultivate. | ||
| 481 | |480 |00:41:49 ~-~-> 00:41:56 |That's the trader and you that's the person that is trying to grow. And many | ||
| 482 | |481 |00:41:56 ~-~-> 00:42:01 |of you are stifling that growth, you're choking it. You're smothering it, by | ||
| 483 | |482 |00:42:01 ~-~-> 00:42:05 |constantly feeding toxicity to it, worrying about stuff that doesn't help | ||
| 484 | |483 |00:42:05 ~-~-> 00:42:10 |that person in you, as a trader grow. You're holding that person back. And | ||
| 485 | |484 |00:42:10 ~-~-> 00:42:14 |it's a perfect excuse why you failed, because you're doing it to yourself. | ||
| 486 | |485 |00:42:14 ~-~-> 00:42:18 |Because deep down inside, you don't believe you deserve to be successful. | ||
| 487 | |486 |00:42:18 ~-~-> 00:42:21 |And that's an unfortunate thing. And I had a Twitter spat on that which was | ||
| 488 | |487 |00:42:21 ~-~-> 00:42:29 |raised, I did a SoundCloud about that. Are you deserving? Because honestly, I | ||
| 489 | |488 |00:42:29 ~-~-> 00:42:33 |didn't feel like I deserved it when I was younger man. I certainly didn't feel | ||
| 490 | |489 |00:42:33 ~-~-> 00:42:39 |like I earned any right to having disability. You know, while I wanted to | ||
| 491 | |490 |00:42:39 ~-~-> 00:42:47 |have the better than average lifestyle, I, I didn't see this type of lifestyle. | ||
| 492 | |491 |00:42:47 ~-~-> 00:42:53 |As the goal. I just wanted to not have to earn my job income on a week by week | ||
| 493 | |492 |00:42:53 ~-~-> 00:42:59 |basis working for somebody else. Once I turned 40. That was that was my goal. I | ||
| 494 | |493 |00:42:59 ~-~-> 00:43:05 |grew up in a very humble environment, where my grandfather made 300 hours a | ||
| 495 | |494 |00:43:05 ~-~-> 00:43:11 |week as a person working in the lumber yard in Essex. He worked a forklift and | ||
| 496 | |495 |00:43:12 ~-~-> 00:43:18 |stacked lumber all day. That's what he did. Nobody made a whole lot of money. | ||
| 497 | |496 |00:43:18 ~-~-> 00:43:27 |And where we lived was literally called cardboard city. And it's hard to have a | ||
| 498 | |497 |00:43:27 ~-~-> 00:43:31 |perspective about being rich, when you come from that when nobody else around | ||
| 499 | |498 |00:43:31 ~-~-> 00:43:37 |you had that kind of money. My whole area in Middle River was all low income. | ||
| 500 | |499 |00:43:38 ~-~-> 00:43:41 |Many of the people are out there, and my mother was one of them. We were on | ||
| 501 | |500 |00:43:41 ~-~-> 00:43:45 |subsidies, we had food stamps, we had all that stuff. And when you live like | ||
| 502 | |501 |00:43:45 ~-~-> 00:43:50 |that, it's real hard to open and broaden your mindset to living in a fluent | ||
| 503 | |502 |00:43:50 ~-~-> 00:43:55 |lifestyle. That is what people that are movie stars live in. And that was my | ||
| 504 | |503 |00:43:55 ~-~-> 00:44:00 |understanding is that little boy, only movie stars can live like that. So I'm | ||
| 505 | |504 |00:44:00 ~-~-> 00:44:04 |not a movie star. So I can't accept that I can't see that happening. But I knew | ||
| 506 | |505 |00:44:05 ~-~-> 00:44:10 |I'm sorry. I knew and I know still to this day that I was built differently. | ||
| 507 | |506 |00:44:11 ~-~-> 00:44:19 |And I was not meant to be a slave. I was not meant to be prostituted have my time | ||
| 508 | |507 |00:44:19 ~-~-> 00:44:25 |paid for at an under valued rate. And everybody that has a job has accepted | ||
| 509 | |508 |00:44:25 ~-~-> 00:44:28 |that. I don't give a fuck what you do. Okay, how much you earn. You can call | ||
| 510 | |509 |00:44:28 ~-~-> 00:44:31 |yourself a professional and you could be in a highly productive person in your | ||
| 511 | |510 |00:44:31 ~-~-> 00:44:38 |field. You're still prostituting your time you're allowing someone else to put | ||
| 512 | |511 |00:44:38 ~-~-> 00:44:45 |a value that they have kept. This is the this is what you're this is the most | ||
| 513 | |512 |00:44:45 ~-~-> 00:44:49 |you're worth to me. And you better show up on time or the fucker where you're | ||
| 514 | |513 |00:44:49 ~-~-> 00:44:56 |going. That's how I see a job. That's how I see it. And that may not be what | ||
| 515 | |514 |00:44:56 ~-~-> 00:45:00 |you see, you may see something entirely different. You may be you You're | ||
| 516 | |515 |00:45:00 ~-~-> 00:45:03 |blessed, you have a job and blah, blah. And I guess in a lot of ways you are, | ||
| 517 | |516 |00:45:03 ~-~-> 00:45:08 |because everybody needs the habit in the beginning, but to live there and spend | ||
| 518 | |517 |00:45:08 ~-~-> 00:45:12 |your entire existence in that. That's not me. And I don't want my sons and my | ||
| 519 | |518 |00:45:12 ~-~-> 00:45:17 |daughter to have that. But they choose the path that they're in. Because I | ||
| 520 | |519 |00:45:17 ~-~-> 00:45:24 |can't make them a trader unless they want to be a trader. That Nigma requires | ||
| 521 | |520 |00:45:24 ~-~-> 00:45:28 |effort. You have to think about things and you have to be disciplined, and you | ||
| 522 | |521 |00:45:28 ~-~-> 00:45:33 |have to follow specific things, or you'll lose money too. It's not an | ||
| 523 | |522 |00:45:33 ~-~-> 00:45:37 |automated thing. It's not something that's gonna just automatically | ||
| 524 | |523 |00:45:37 ~-~-> 00:45:43 |autonomously put you in to do any thinking at all. But they have to have a | ||
| 525 | |524 |00:45:43 ~-~-> 00:45:49 |baseline and the only one of my kids that had the closest thing to it now is | ||
| 526 | |525 |00:45:49 ~-~-> 00:45:55 |Cameron. Caleb, changes all the time. He wants to do swing trading, he wants to | ||
| 527 | |526 |00:45:55 ~-~-> 00:45:58 |do day trading, he wants to be positioned trading, he's still finding | ||
| 528 | |527 |00:45:58 ~-~-> 00:45:59 |himself. | ||
| 529 | |528 |00:46:03 ~-~-> 00:46:09 |Cameron literally walked out there and proved it proved to me that he has it in | ||
| 530 | |529 |00:46:09 ~-~-> 00:46:14 |him proved it to me that, you know, the information is transferable. And that my | ||
| 531 | |530 |00:46:14 ~-~-> 00:46:23 |concepts in the hands of a neophyte no experience, reckless abandon and not | ||
| 532 | |531 |00:46:23 ~-~-> 00:46:27 |giving a shit when anybody thinks about him. This going out there and just doing | ||
| 533 | |532 |00:46:27 ~-~-> 00:46:35 |it. And, you know, it is what it is he did two times what most people can't get | ||
| 534 | |533 |00:46:35 ~-~-> 00:46:40 |one off. He did three times. But most people can't get one off. And he did it | ||
| 535 | |534 |00:46:40 ~-~-> 00:46:47 |in one month. After failing seven times. I think that's an interesting number. | ||
| 536 | |535 |00:46:47 ~-~-> 00:46:55 |Completion. So you can look at your progress and look for all these things | ||
| 537 | |536 |00:46:55 ~-~-> 00:47:02 |to nitpick and be argumentative and condescending to yourself, say, Oh, this | ||
| 538 | |537 |00:47:02 ~-~-> 00:47:09 |is not good enough. Or you can say no, I no more this week, more than I did last | ||
| 539 | |538 |00:47:09 ~-~-> 00:47:15 |week. I didn't crash and burn. On this day. On this time. I didn't do that | ||
| 540 | |539 |00:47:15 ~-~-> 00:47:20 |foolish thing that I felt impulsively that I wanted to do. Whereas three weeks | ||
| 541 | |540 |00:47:20 ~-~-> 00:47:26 |ago, I would have Are you willing to trade with less margin all the way down | ||
| 542 | |541 |00:47:26 ~-~-> 00:47:31 |to one micro contract? If it meant that you're gonna fix all the problems that | ||
| 543 | |542 |00:47:31 ~-~-> 00:47:34 |you're fearful of, and you're spending so much time and energy worrying about | ||
| 544 | |543 |00:47:34 ~-~-> 00:47:40 |right now? What if I can't do it? What if I blow my account? What if I fail | ||
| 545 | |544 |00:47:40 ~-~-> 00:47:43 |this challenge? What if I lose my funded account? What if I do this? What if I, | ||
| 546 | |545 |00:47:44 ~-~-> 00:47:51 |what if you do what I'm asking him to do, which cost nothing. Trade in your | ||
| 547 | |546 |00:47:51 ~-~-> 00:47:58 |demo with one micro lot. Aim for consistency with 10 points, look and see | ||
| 548 | |547 |00:47:58 ~-~-> 00:48:02 |what it feels like to be with those trades and how little that amount of | ||
| 549 | |548 |00:48:02 ~-~-> 00:48:08 |money is and conditioned yourself to see the point values. And then when you get | ||
| 550 | |549 |00:48:08 ~-~-> 00:48:14 |real comfortable that you can do it consistently. offered up to one. I'm | ||
| 551 | |550 |00:48:14 ~-~-> 00:48:19 |sorry, one more. So nine, treatment two. And we get comfortable with that got the | ||
| 552 | |551 |00:48:19 ~-~-> 00:48:28 |three all the way up to 10, which is a standard mini lot. Once you do that | ||
| 553 | |552 |00:48:28 ~-~-> 00:48:33 |cycle all the way back down to one micro lot. Now try to do it for 15 points. | ||
| 554 | |553 |00:48:35 ~-~-> 00:48:43 |When you do that, consistently go up to two micro contracts and aim for that | ||
| 555 | |554 |00:48:43 ~-~-> 00:48:48 |same 15 What are you doing? You're doing reps, you're doing sets, you're doing | ||
| 556 | |555 |00:48:48 ~-~-> 00:48:52 |reps, you're conditioning yourself? Because none of you are ready to be | ||
| 557 | |556 |00:48:52 ~-~-> 00:48:56 |trading with $300 for fucking point. Okay, I don't give a fuck if it's a | ||
| 558 | |557 |00:48:56 ~-~-> 00:49:05 |combine, combine, challenge whatever $300 per point, folks, that is size in | ||
| 559 | |558 |00:49:05 ~-~-> 00:49:10 |on a market that moves. And when you have no experience, and you're limiting | ||
| 560 | |559 |00:49:10 ~-~-> 00:49:15 |it to just I hope it works out for me. That is not sound logic. That is not | ||
| 561 | |560 |00:49:15 ~-~-> 00:49:20 |what traders do. That's what gamblers do. You're gambling. And I'm sorry if | ||
| 562 | |561 |00:49:20 ~-~-> 00:49:24 |you want to resist that definition, and call it something other than what it is. | ||
| 563 | |562 |00:49:24 ~-~-> 00:49:30 |But that's absolutely what it is. And that's going to hold you hostage and | ||
| 564 | |563 |00:49:30 ~-~-> 00:49:34 |you'll never be able to hold those long winning big runners from today. Because | ||
| 565 | |564 |00:49:34 ~-~-> 00:49:38 |you're worried about that big win, dissolving down into a loss or a smaller | ||
| 566 | |565 |00:49:38 ~-~-> 00:49:43 |win. Instead of submitting to the idea that the trade is really designed to go | ||
| 567 | |566 |00:49:43 ~-~-> 00:49:47 |here. And it doesn't matter how much I have. I've traded what I could afford. I | ||
| 568 | |567 |00:49:47 ~-~-> 00:49:52 |traded where my sweet spot in equities, you might discover no matter how much | ||
| 569 | |568 |00:49:52 ~-~-> 00:49:59 |money you earn. I have students that made very, very huge runs in there. | ||
| 570 | |569 |00:50:00 ~-~-> 00:50:07 |Pretty big fucking money, end of working kind of money, okay. And they won't | ||
| 571 | |570 |00:50:07 ~-~-> 00:50:14 |trade more than 10 contracts, no matter what, they can do a whole lot more. But | ||
| 572 | |571 |00:50:14 ~-~-> 00:50:18 |why won't they go more intense, because they don't like how they feel about the | ||
| 573 | |572 |00:50:18 ~-~-> 00:50:25 |trades when they're trading with more than that. That's maturity. That's a | ||
| 574 | |573 |00:50:25 ~-~-> 00:50:29 |discipline mindset that has went to the processes I'm telling you to do. They | ||
| 575 | |574 |00:50:29 ~-~-> 00:50:33 |went through it meticulously, they submitted it, they submitted themselves | ||
| 576 | |575 |00:50:33 ~-~-> 00:50:37 |to it. And they discovered that little sweet spot where you might only be a | ||
| 577 | |576 |00:50:37 ~-~-> 00:50:42 |three contract trader, and you are fucking phenomenal as a three contract | ||
| 578 | |577 |00:50:42 ~-~-> 00:50:46 |trader, beat the brakes off everybody else that's trying to trade with 15 | ||
| 579 | |578 |00:50:46 ~-~-> 00:50:52 |contracts. Not that you should be comparing and contrasting. But there are | ||
| 580 | |579 |00:50:52 ~-~-> 00:50:55 |levels to this stuff that none of you are considering, they're going to be | ||
| 581 | |580 |00:50:55 ~-~-> 00:51:00 |highly impactful to you as the trader and how you think, just because it's | ||
| 582 | |581 |00:51:00 ~-~-> 00:51:05 |available, just because me or someone else that might be a student of mine, or | ||
| 583 | |582 |00:51:05 ~-~-> 00:51:08 |someone else that doesn't even trade like us, is trading with whatever | ||
| 584 | |583 |00:51:08 ~-~-> 00:51:13 |fucking amount it is, has this much in funding has this much in payout who | ||
| 585 | |584 |00:51:13 ~-~-> 00:51:17 |gives a flying fuck, you can't spend their money, you're not driving their | ||
| 586 | |585 |00:51:17 ~-~-> 00:51:19 |cars, you're not sleeping in their fucking house, they're not going to do | ||
| 587 | |586 |00:51:19 ~-~-> 00:51:22 |anything for you not going to pay your fucking bills. So you got to find your | ||
| 588 | |587 |00:51:22 ~-~-> 00:51:26 |own way in this. They found their own way. And they're comfortable doing what | ||
| 589 | |588 |00:51:26 ~-~-> 00:51:31 |they're doing, if it's, you know, gambling out their fucking mind and | ||
| 590 | |589 |00:51:31 ~-~-> 00:51:33 |doing high risk all the time. And they're comfortable with that. Guess | ||
| 591 | |590 |00:51:33 ~-~-> 00:51:36 |what? There are professional poker players that do that, and they make | ||
| 592 | |591 |00:51:36 ~-~-> 00:51:40 |their living doing it? Are you a professional fucking poker player? Are | ||
| 593 | |592 |00:51:40 ~-~-> 00:51:46 |you on that fucking final table every fucking year? No. So stop trying to do | ||
| 594 | |593 |00:51:46 ~-~-> 00:51:51 |that stuff and trading. You want it to be steady Eddie, stuff that this is | ||
| 595 | |594 |00:51:51 ~-~-> 00:51:57 |going to happen. And you can trust it. and work towards that each day you, you | ||
| 596 | |595 |00:51:57 ~-~-> 00:52:01 |train yourself and you conditioned yourself, do those things in mind. And | ||
| 597 | |596 |00:52:01 ~-~-> 00:52:06 |the facts will speak for themselves, progress will be measurable. It's not | ||
| 598 | |597 |00:52:06 ~-~-> 00:52:10 |going to be overnight. And it shouldn't be overnight. You can't get comfortable | ||
| 599 | |598 |00:52:11 ~-~-> 00:52:17 |doing things like this that are highly technical, highly dependent on a mindset | ||
| 600 | |599 |00:52:17 ~-~-> 00:52:23 |that is fortified in something that you believe in, that you know will continue. | ||
| 601 | |600 |00:52:23 ~-~-> 00:52:26 |The people that are asking me, this is going to start working, you're never | ||
| 602 | |601 |00:52:26 ~-~-> 00:52:31 |going to be a trader. You're never going to amount to shit as a trader. As long | ||
| 603 | |602 |00:52:31 ~-~-> 00:52:34 |as you start worrying about those types of things. You're looking for excuses. | ||
| 604 | |603 |00:52:34 ~-~-> 00:52:38 |Why not to do it. That's what you're really asking me. You're asking me to | ||
| 605 | |604 |00:52:38 ~-~-> 00:52:45 |give you permission to say don't try. Think about it is a lot of work. You can | ||
| 606 | |605 |00:52:45 ~-~-> 00:52:49 |make a lot of money. But it's a lot of user studies a lot of things to do. He | ||
| 607 | |606 |00:52:49 ~-~-> 00:52:53 |asked me do a lot of stuff, man. I really liked my personal time. And all | ||
| 608 | |607 |00:52:53 ~-~-> 00:52:56 |the TV shows and streaming apps that I have I've watched too much fucking stuff | ||
| 609 | |608 |00:52:56 ~-~-> 00:53:03 |to put this in there. I had no time for this. What's the chances that it was not | ||
| 610 | |609 |00:53:03 ~-~-> 00:53:06 |working? If all these people start doing ICT? Is this going to stop working? Or | ||
| 611 | |610 |00:53:06 ~-~-> 00:53:08 |they're gonna change the algorithm? Yeah, they are. They're gonna stop it. | ||
| 612 | |611 |00:53:08 ~-~-> 00:53:11 |They're gonna change right now. Don't bother go back to watch and fucking | ||
| 613 | |612 |00:53:11 ~-~-> 00:53:16 |family fucking feud. Okay, go ahead. Just go back to doing that. Go watch | ||
| 614 | |613 |00:53:16 ~-~-> 00:53:18 |your television, go listen to the fucking news. Go do whatever you want to | ||
| 615 | |614 |00:53:18 ~-~-> 00:53:22 |do waste your time doing other things because this isn't going to be | ||
| 616 | |615 |00:53:22 ~-~-> 00:53:30 |profitable for you. Either saved you a whole lot of time and money done. But | ||
| 617 | |616 |00:53:30 ~-~-> 00:53:35 |some of you know better than that. And that's who my audience is. So hopefully | ||
| 618 | |617 |00:53:35 ~-~-> 00:53:40 |you found some insight this week with me and learn some things and found some | ||
| 619 | |618 |00:53:40 ~-~-> 00:53:44 |encouragement. I'm going to encourage you to have a very pleasant relaxing | ||
| 620 | |619 |00:53:44 ~-~-> 00:53:49 |weekend. I'm going to do the same thing now likewise, and Lord willing, I will | ||
| 621 | |620 |00:53:49 ~-~-> 00:53:52 |talk to you on Monday. Until then, be safe |