060-ict-yt-space-2023-12-16-Proper-Mindset-Pitfalls-and-Plagues-That-Undermine-Performance

Last modified by Drunk Monkey on 2024-09-25 09:00

1	00:00:27 --> 00:00:35	ICT: Well, good morning. It is a good morning. Hope you're doing well. So I
2	00:00:35 --> 00:00:41	felt a little impulsive this morning. I got up for a little earlier than I
3	00:00:41 --> 00:00:46	planned to be today. And I made my rounds through YouTube and looked at the
4	00:00:46 --> 00:00:50	folks that I like to follow and see what they posted and see if their latest,
5	00:00:50 --> 00:01:01	updated social media post would be. And I came across one of the guys I follow
6	00:01:01 --> 00:01:10	who I'm rooting for. A lot of you don't understand why, but he was the
7	00:01:10 --> 00:01:18	inspiration behind this discussion today. Now right away, let me preface it
8	00:01:18 --> 00:01:24	by saying this is the kind of thing that the millennials that have it right now
9	00:01:24 --> 00:01:29	give it to me. I demand it. You owe it to me and make it real easy. And I don't
10	00:01:29 --> 00:01:34	want to have to put any effort into it. This is the kind of topic or discussion
11	00:01:34 --> 00:01:39	that you're not going to like, because it's going to require you to do some
12	00:01:39 --> 00:01:43	personal inventory. It's also going to put limitations on where you're placing
13	00:01:43 --> 00:01:48	your focus, what you should be doing, how you should be thinking. And the
14	00:01:48 --> 00:01:52	millennial mindset is, don't tell me how to think. I'll learn how to do that on
15	00:01:52 --> 00:02:03	social media. So in trading, in investing, your your end, entering an
16	00:02:03 --> 00:02:09	arena where the sharpest minds in the world are out here trying to cannibalize
17	00:02:09 --> 00:02:14	one another. And if you come in with a very limited perspective on how the
18	00:02:14 --> 00:02:18	markets are going to behave, how you are going to engage in these marketplaces,
19	00:02:18 --> 00:02:25	you're going to have your clock cleaned, okay, very efficiently and expediently,
20	00:02:26 --> 00:02:35	and it will be sudden, and you won't feel like anyone can be profitable or
21	00:02:35 --> 00:02:40	anyone can trade. And I've seen that over the years as a educator, you know,
22	00:02:40 --> 00:02:44	coming in contact with a lot of different personalities, a lot of
23	00:02:44 --> 00:02:54	different cultural divides, and largely the repeating phenomenon is that the
24	00:02:54 --> 00:03:06	lack of personal responsibility and also the just disproportionate level of what
25	00:03:06 --> 00:03:16	is realistic versus what's being promoted, largely on social media. So I
26	00:03:16 --> 00:03:19	want to talk a little bit, and I probably will be about an hour or less
27	00:03:19 --> 00:03:25	today, so I'm on schedule, so I have to make sure I stay on that that time
28	00:03:25 --> 00:03:28	frame, it's around the holidays, and it's something I'm trying to squeeze in
29	00:03:28 --> 00:03:31	on my personal time. Usually I do these types of things, or did these things.
30	00:03:31 --> 00:03:36	I'm not on Twitter anymore, but I would do Twitter spaces, and I wanted to kind
31	00:03:36 --> 00:03:41	of encourage you, because we're ending in 2023 a lot of you have learned a
32	00:03:41 --> 00:03:46	great deal of new things on the YouTube channel. You've learned a lot of things
33	00:03:46 --> 00:03:50	about trading. Maybe you've discovered a lot of things about yourself. Maybe you
34	00:03:50 --> 00:03:56	found the model, maybe you found the beginning footings, if you will, of a
35	00:03:56 --> 00:04:01	progress that you want to see increase and move forward. And I'm trying to
36	00:04:01 --> 00:04:05	encourage you to do that today, but also want to remind you some of the things
37	00:04:05 --> 00:04:13	that I met coming up, and also what I see a lot of traders and a lot of
38	00:04:13 --> 00:04:19	influencers slash traders and a lot of Youtubers that pretend to be traders,
39	00:04:19 --> 00:04:27	those pitfalls they're falling victim to, and admittedly, I have reached out
40	00:04:27 --> 00:04:34	to them, both publicly and privately, to try to encourage them to do things a
41	00:04:34 --> 00:04:37	little bit differently. And I understand some people just don't want to take
42	00:04:37 --> 00:04:42	advice, especially some of them not wanting to receive it from me, but
43	00:04:42 --> 00:04:49	that's, you know, that's a miss one. It's misfortunate for both of us,
44	00:04:49 --> 00:04:53	because I'd like to see these individuals improve, and I see them at a
45	00:04:53 --> 00:05:00	position of stagnant development. The chart will not change. In this
46	00:05:00 --> 00:05:04	discussion, by the way, so your your screen's not frozen. There will be a
47	00:05:04 --> 00:05:09	list of things here, and I'll show you the first one, the first pitfall and
48	00:05:09 --> 00:05:13	plague of trading well, is unrealistic expectations or results that you think
49	00:05:13 --> 00:05:18	that you have to have. Okay? And before I say anything more, just let me say
50	00:05:18 --> 00:05:26	this, we are in a performance oriented industry, it's all about the results.
51	00:05:26 --> 00:05:32	Okay, whose results matter? Yours, not mine, not the people you follow, not the
52	00:05:32 --> 00:05:36	people that you're trying to learn from, not the people you pocket watch on
53	00:05:36 --> 00:05:40	social media. This person has the better car, this person has the better house,
54	00:05:40 --> 00:05:44	this person has the better trading setup, the better. The better monitor
55	00:05:44 --> 00:05:50	array, the better trading desk, the better, whatever. Okay, all of those
56	00:05:50 --> 00:05:55	things do nothing to put money in your pocket or add to your bottom line on
57	00:05:55 --> 00:05:58	your account. Now that's not to say you can't be entertained by those types of
58	00:05:58 --> 00:06:03	things, but unfortunately, the state of the world today is they equate that to
59	00:06:03 --> 00:06:08	being equivalent to, well, I can be like them, and I want to be successful so I
60	00:06:08 --> 00:06:12	can do those things versus I want to learn how to trade so I don't have to go
61	00:06:12 --> 00:06:17	to work. I want to have a profitable trading endeavor, so that way I can
62	00:06:17 --> 00:06:21	operate like a business and be an entrepreneur and have the benefits of
63	00:06:21 --> 00:06:25	living a better lifestyle. And that's not being rich, okay? That's not that's
64	00:06:25 --> 00:06:29	not being promised to you here, but another stream of income that you can
65	00:06:29 --> 00:06:34	feel confident that you're going to be able to do this in perpetuity, without
66	00:06:34 --> 00:06:39	the necessity of you going to punch a time clock or leaning on the salary that
67	00:06:39 --> 00:06:43	a ball says that this is what you're worth to me. That's not guaranteed to
68	00:06:43 --> 00:06:51	you next year in 2024 that could change. So when we look at people, and I'm going
69	00:06:51 --> 00:07:00	to lump myself into this, okay, for all fairness, I share a lot of examples that
70	00:07:00 --> 00:07:07	many of you sometimes say in my comment section. You did it a lot on Twitter,
71	00:07:07 --> 00:07:12	too. Not all of you are guilty of this, but I'm of the opinion that it's the
72	00:07:12 --> 00:07:17	majority. I know that sometimes I'm executing with models that I have not
73	00:07:17 --> 00:07:25	fully revealed, or entry mechanisms or things like that, and invariably, I'll
74	00:07:25 --> 00:07:32	see people say I took the exact same trait. You're lying to yourself. I don't
75	00:07:32 --> 00:07:36	believe you, and those types of things are not going to help you as a trader,
76	00:07:36 --> 00:07:40	because what you're doing is you're saying to yourself in a comment to me
77	00:07:40 --> 00:07:44	that I'm not believing now, if you So, this is my example. And I have students
78	00:07:44 --> 00:07:51	that do this, they'll record themselves in engaging price, managing it. And I
79	00:07:51 --> 00:07:55	reached out to a person that just recently the day, did almost the same
80	00:07:55 --> 00:08:02	trade that I did, and I gave him a call out on my community tab. He's ever on
81	00:08:02 --> 00:08:07	Twitter. Just look at that name. Look at all the recent tweets towards me. Now,
82	00:08:07 --> 00:08:14	I'm not active on Twitter, but that person did exactly as close as you can
83	00:08:14 --> 00:08:20	can to what I did in terms of trying to trade the market. Was it exact same
84	00:08:20 --> 00:08:24	fill, no. Was it exact same targets? No, but the same premise. What was he
85	00:08:24 --> 00:08:32	employing? What he learned? Okay, what he learned so unrealistic results are
86	00:08:32 --> 00:08:41	assuming that you're going to have the same entries, the same targets, the same
87	00:08:42 --> 00:08:49	everything about my trade. When you don't hit that, it will be frustrating,
88	00:08:49 --> 00:08:54	and you'll start doing other things, because that impulsiveness will rise up
89	00:08:54 --> 00:09:00	in you, and you're going to know in the deepest part of you that you can't do
90	00:09:00 --> 00:09:06	what I'm doing yet. Not that you can't, but you can't do it yet. So then you
91	00:09:06 --> 00:09:09	start pushing a button to see well, let me entertain myself, because I don't
92	00:09:09 --> 00:09:13	feel well about what I think I should be able to do because I've watched a lot of
93	00:09:13 --> 00:09:16	these videos, therefore it means I should know how to do it. When you
94	00:09:16 --> 00:09:21	haven't practiced it, you haven't studied it, you haven't put chart time
95	00:09:21 --> 00:09:26	in, you haven't logged anything, and those things, they will equate to and
96	00:09:26 --> 00:09:29	delivered the results that you're looking for, but just simply watching
97	00:09:29 --> 00:09:34	videos that doesn't do it, watching videos about taking notes doesn't do it,
98	00:09:34 --> 00:09:41	so having unrealistic results in mind, meaning watching things like a Robin's
99	00:09:41 --> 00:09:46	cup performance next year, or watching what the historical returns have been,
100	00:09:46 --> 00:09:49	and thinking that you're going to walk out there in your trading, not
101	00:09:49 --> 00:09:54	necessarily entering the competition, but trading with that level of return
102	00:09:56 --> 00:10:00	every one of those individuals out there today, if you go look at it and. Any one
103	00:10:00 --> 00:10:04	of those divisions, they're all respectable returns.
104	00:10:06 --> 00:10:09	They're not to be diminished. I'm not trying to say they're not good returns.
105	00:10:09 --> 00:10:15	They're great returns. If you're making 100% return on your money in a year. And
106	00:10:15 --> 00:10:18	granted, there are a lot of you that are my students. There's a lot of you that
107	00:10:18 --> 00:10:22	don't even trade the way I trade, and you can do better than 100% return in a
108	00:10:22 --> 00:10:26	year. So please put your ego aside, because we're not out here trying to
109	00:10:26 --> 00:10:30	measure up anything. I'm trying to focus on the students or traders that are
110	00:10:30 --> 00:10:35	trying to accomplish consistency, and the things that they may or may not have
111	00:10:35 --> 00:10:40	identified are problematic barriers that they're either going to have to overcome
112	00:10:40 --> 00:10:45	or it will eventually become a factor in their development, and how to get around
113	00:10:45 --> 00:10:49	those types of things, at least, how I did it, and how I actively teach my own
114	00:10:49 --> 00:10:54	students and my own children. And I'll talk about my son, Cameron, who's
115	00:10:54 --> 00:11:00	wrestling with a lot of things as well. So you have to be realistic about this,
116	00:11:00 --> 00:11:04	okay, and watching someone that's been doing it for a very long time, and
117	00:11:04 --> 00:11:07	assuming that you're going to watch a few videos that you would maybe have
118	00:11:07 --> 00:11:11	been following me for a number of years, and then thinking, well, I should be
119	00:11:11 --> 00:11:17	able to do what you're doing when none of you would be expected to be able to
120	00:11:17 --> 00:11:20	trade like that. I would never have that expectation of you years down the road
121	00:11:20 --> 00:11:25	you will, but just simply because you went through a video series, you know,
122	00:11:25 --> 00:11:28	watched a couple videos, and maybe looked at some old charts, or maybe
123	00:11:28 --> 00:11:32	watching some of my executions, you might feel an affinity for wanting to
124	00:11:32 --> 00:11:36	trade like this, but don't assume for a moment that it's realistic for you to
125	00:11:36 --> 00:11:41	expect yourself be able to walk out in 2024 and trade like that. So when you
126	00:11:41 --> 00:11:48	see your favorite YouTuber, your favorite online personality and me in
127	00:11:48 --> 00:11:56	that list as well, our results are unique to us. You don't know what we're
128	00:11:56 --> 00:12:01	wrestling with at the time. You don't know what things are factors that are
129	00:12:02 --> 00:12:08	really plaguing us behind the scenes while in a trade, you don't know if we
130	00:12:08 --> 00:12:12	feel good about the leverage that we've put on or not. There's been several
131	00:12:12 --> 00:12:17	instances where I have shown executions this week, and when I moved my stop
132	00:12:17 --> 00:12:22	because of personal schedules, I want to be able to share something with you. And
133	00:12:22 --> 00:12:26	I moved the stop a little bit more aggressive than I would normally do if I
134	00:12:26 --> 00:12:29	wasn't trying to meet a time scheduled event, like my son going to the dentist,
135	00:12:30 --> 00:12:33	like my wife saying, hey, you know, we got to get the tree up. We got to do
136	00:12:33 --> 00:12:37	this. We got to get new sets of this for something around the house. Because I'm
137	00:12:37 --> 00:12:40	a family person as well. I have a family. I have a wife. I have a honey to
138	00:12:40 --> 00:12:46	do, or honey do list that she likes to throw at me. These are all things that
139	00:12:46 --> 00:12:50	you as a person are going to have to manage in your trading as well. And
140	00:12:50 --> 00:12:53	while you're learning how to do this, if you ever went to uni, if you've been a
141	00:12:53 --> 00:12:59	college student, whatnot, those types of things, you had to balance that as well.
142	00:12:59 --> 00:13:03	You had to work your job. If you have to keep a job study, do all those things,
143	00:13:03 --> 00:13:08	and it's a lot on your plate, and it's important that you realize that no one's
144	00:13:08 --> 00:13:14	holding you to a unrealistic expectation of yourself, except for you. You you're
145	00:13:14 --> 00:13:24	doing that, and don't allow other people to inflate what you should be viewing as
146	00:13:24 --> 00:13:30	realistic results, and what is a realistic result? To me, if you can make
147	00:13:30 --> 00:13:39	2% a week, that's phenomenal. Now, obviously you that's way below someone
148	00:13:39 --> 00:13:45	that's been trading for a long time, that's that's really nothing in terms of
149	00:13:45 --> 00:13:48	the grand scheme of things, but we're talking about where you are right now,
150	00:13:48 --> 00:13:59	the the the lack of consistency, or the trader student that is unable to find
151	00:13:59 --> 00:14:06	their way in consistency. Where should you aim? Finding yourself in the realm
152	00:14:06 --> 00:14:13	of 2% positive on the week, that is not a high water mark where you can't reach
153	00:14:13 --> 00:14:20	it is absolutely obtainable, and you can do it risking one quarter of 1% now
154	00:14:20 --> 00:14:27	that's not sexy. That's not in vogue right now. That's not a popular thing to
155	00:14:27 --> 00:14:31	be risking that little, because in your mindset, you're thinking, I can't get
156	00:14:31 --> 00:14:39	rich risking so little. I gotta risk big money. That's a lie. The people that say
157	00:14:39 --> 00:14:45	that are not profitable anyway, in their mind, that tells you that number one,
158	00:14:45 --> 00:14:49	they're mathematically challenged. They have no understanding of compound
159	00:14:49 --> 00:14:54	interest. They have no consistency in modeling a trading plan. They have no
160	00:14:54 --> 00:14:57	idea what they're looking for. They have no faith in what they're looking for is
161	00:14:57 --> 00:15:04	going to repeat just about every single. Single day, and because creatures of
162	00:15:04 --> 00:15:09	habit, that's what humans are. If you, if you follow or fly with a flock of
163	00:15:09 --> 00:15:14	birds, okay, that has a specific mindset, you will adopt that mindset,
164	00:15:14 --> 00:15:20	even if it is toxic, because you're going to try to fit in, and social media
165	00:15:20 --> 00:15:25	kind of captivates these individuals, where they feel like they're they're
166	00:15:25 --> 00:15:30	included in something, and you don't want to include yourself in to a
167	00:15:31 --> 00:15:40	community mindset that is unrealistic, having astronomical rates of return. You
168	00:15:40 --> 00:15:44	know, while that's wonderful, and it should be an aspiration over a long
169	00:15:44 --> 00:15:50	career, walking out in your first few years as a fledgling as a trader, you
170	00:15:50 --> 00:15:56	know, it's a it's going to sound like a buzzkill, but really, it's not
171	00:15:56 --> 00:16:00	practical. And I fell victim to that when I first started. I felt like it was
172	00:16:00 --> 00:16:05	something that, you know, that's what that's going to tell me, I'm doing the
173	00:16:05 --> 00:16:10	right thing, making lots of money, doing it correctly, you with lots of you know,
174	00:16:10 --> 00:16:18	percentage return, never losing. That's an unrealistic expectation as well. And
175	00:16:19 --> 00:16:24	I forced myself, I was actually talking to my private mentorship students, and I
176	00:16:24 --> 00:16:30	said I was forcing myself to trade in conditions that I don't generally want
177	00:16:30 --> 00:16:36	to trade in. And you see me get stopped out, you've watched me get stopped out.
178	00:16:37 --> 00:16:43	They have to re enter using the rules that I teach. I traded in settings that
179	00:16:43 --> 00:16:47	I would not risk real money in in the questions that are coming up in the
180	00:16:47 --> 00:16:52	comment section, why are you doing this? Because I'm showing you why I practice
181	00:16:52 --> 00:16:56	what I preach. Can I get it right? Sometimes, yes. But is that enough
182	00:16:56 --> 00:17:00	reason for me to go out there and trade in from the CPI, no. Is it enough reason
183	00:17:00 --> 00:17:07	for me to trade in front of the FOMC. No, is it something I should be trading
184	00:17:07 --> 00:17:12	on a Thursday and Friday of Non Farm Payroll? No. Can I Yes? Can I get
185	00:17:13 --> 00:17:19	fortunate enough to have a setup fall in my favor? Yes, but that doesn't entice
186	00:17:19 --> 00:17:27	me to do it as a steady diet every single month, because my precision, my
187	00:17:27 --> 00:17:34	accuracy, my trade management, is greatly hindered by the level of
188	00:17:34 --> 00:17:40	volatility and uncertainty that is caused around those types of days. So I
189	00:17:40 --> 00:17:45	don't need to go out on social media to do those things, to prove that my
190	00:17:45 --> 00:17:49	concepts or that I can trade, or anybody else can learn this and have it
191	00:17:49 --> 00:17:52	transferable knowledge. I don't need to do those things, but because I want to
192	00:17:52 --> 00:17:55	close this year out with other things and talk about it in a manner where,
193	00:17:55 --> 00:18:00	hey, look, you can see those examples, and think to yourself, Wow, that's
194	00:18:00 --> 00:18:05	that's that's really good to me. When I look at this, I look at it as I know
195	00:18:05 --> 00:18:09	it's entertaining for you, but I don't want you to look at it and say, Well, I
196	00:18:09 --> 00:18:12	want to trade like you and do that, because that's not what this is about.
197	00:18:15 --> 00:18:19	There's been several times this year, and in my private mentorship, they will
198	00:18:19 --> 00:18:25	vouch for this too. I'm rarely accurate in my expectation of front of the CPI
199	00:18:25 --> 00:18:29	number. I've said it many times in Twitter spaces. I've said it many times
200	00:18:29 --> 00:18:35	in this YouTube channel, and I'm rarely accurate in terms of what I think the
201	00:18:35 --> 00:18:41	CPI is going to do before it does it. So if I had a model, if I had a approach
202	00:18:41 --> 00:18:46	that could take advantage of that, then clearly I'd be in there doing every
203	00:18:46 --> 00:18:50	single month when it's available. I'd be in there, you know, fleecing it every
204	00:18:50 --> 00:18:55	every single opportunity. But because I've seen enough to know that that's not
205	00:18:55 --> 00:19:00	realistic for me to know in advance, with a great deal of consistency, what
206	00:19:00 --> 00:19:04	that report's going to do much like the Non Farm Payroll. I can have a schematic
207	00:19:04 --> 00:19:07	in mind where I think that this is what the price is going to do. It's going to
208	00:19:07 --> 00:19:11	behave this way. It's going to attack this liquidity first and then go here.
209	00:19:11 --> 00:19:15	But you know what that is? It's the equivalent of the same thing that a
210	00:19:15 --> 00:19:19	football team's head coach does when they're at the Super Bowl. They have a
211	00:19:19 --> 00:19:26	playbook. But how many times is the other team that didn't win? Looking at
212	00:19:26 --> 00:19:31	that playbook saying, but I had it all figured out beforehand. If the players
213	00:19:31 --> 00:19:35	just would have did this, if the candlesticks would have just did what
214	00:19:35 --> 00:19:40	they were supposed to do, that's unrealistic, thinking. Those are
215	00:19:40 --> 00:19:44	unrealistic results. I know that these markets are going to be even more
216	00:19:44 --> 00:19:51	manipulated in a degree where I can't participate and trust that my concepts,
217	00:19:51 --> 00:19:56	my models, are going to perform as efficiently as they would if they're not
218	00:19:56 --> 00:20:01	in those particular settings any given day of. Week, apart from the things I've
219	00:20:01 --> 00:20:02	mentioned here,
220	00:20:03 --> 00:20:07	I'm pretty confident that I'm going to find something I'm going to be able to
221	00:20:07 --> 00:20:14	take home now, me being your mentor, and you saying I'm a student of you, and I
222	00:20:14 --> 00:20:19	believe in your concepts, that doesn't equate to you being on the level,
223	00:20:20 --> 00:20:27	knowing how to do it yet. So don't blur that line. And some of you get very this
224	00:20:27 --> 00:20:31	is where it becomes, you know, admittedly, it's, it's cult like,
225	00:20:31 --> 00:20:37	because anything that gets popular and it feels like you want to be a part of
226	00:20:37 --> 00:20:43	it, and it's able to do things that it's something different. People want to plug
227	00:20:43 --> 00:20:48	into that, and it gives them an identity. You're stronger than that. You
228	00:20:48 --> 00:20:52	don't need to identify with me. You don't need to identify with my concepts.
229	00:20:52 --> 00:20:56	That doesn't mean you can't employ them. It doesn't mean that they can't be a
230	00:20:56 --> 00:21:02	basis for you to be trading. But so many of you are just trying to be part of
231	00:21:03 --> 00:21:09	something that's not required for you to be profitable, meaning the the carnival,
232	00:21:09 --> 00:21:14	like atmosphere. I love the camaraderie and the the tight knit feeling of our
233	00:21:14 --> 00:21:22	community, but many of you go on a defensive when you don't need to and
234	00:21:23 --> 00:21:27	that's an unrealistic result as well. You can't worry about defending me. You
235	00:21:27 --> 00:21:32	can't worry about defending my concepts. They do it all by themselves. Okay? I
236	00:21:32 --> 00:21:37	don't need anybody to defend me or how I trade. Your focus should be primarily on
237	00:21:37 --> 00:21:41	you. What are you doing today that's leading you to being better than you
238	00:21:41 --> 00:21:47	were yesterday, last week, last month, last quarter, last year, and are you
239	00:21:47 --> 00:21:52	logging that you have to be journaling? If you're not journaling, that's an
240	00:21:52 --> 00:21:58	unrealistic result. You have no baseline measurement. You have no way of being
241	00:21:58 --> 00:22:03	able to judge, are you really seeing progress? Because if you go by a gut
242	00:22:03 --> 00:22:05	feeling, yeah, I feel better about getting in trade. That's nothing.
243	00:22:06 --> 00:22:10	There's that's nothing. Some of those executions I did and shared with you
244	00:22:10 --> 00:22:15	this week and last you know, once I got into the trade, I was like, I wish I
245	00:22:15 --> 00:22:18	wouldn't have got in this trade now. I wish I would have waited on another move
246	00:22:18 --> 00:22:23	and even got in at a higher price, even though I was bullish, even though I got
247	00:22:23 --> 00:22:27	in at a lower price, I didn't like where I was in certain parts of those
248	00:22:27 --> 00:22:32	executions, but I was there, and that's exactly what it's like for you. When you
249	00:22:32 --> 00:22:35	get into the real world where you're trading with real money, you're going to
250	00:22:35 --> 00:22:39	push a button. And now, what do you do if you don't feel so warmed up to the
251	00:22:39 --> 00:22:43	idea that you've placed yourself correctly, you either have to manage
252	00:22:43 --> 00:22:49	yourself through that trade or kill it and then go in at a better place where
253	00:22:49 --> 00:22:55	you feel sound, you feel comfortable, and books don't talk about these types
254	00:22:55 --> 00:22:59	of things. You know other teachers, they don't talk about those things. It's
255	00:22:59 --> 00:23:05	something that you're going to encounter. But when you sugarcoat it and
256	00:23:05 --> 00:23:10	you put blinders on, you say, Well, I didn't really do anything wrong here,
257	00:23:10 --> 00:23:15	because the trade did eventually pan out. Well, that's not accurate. You have
258	00:23:15 --> 00:23:21	to identify what caused you the uncomfortable state of mind I was in
259	00:23:22 --> 00:23:27	I've been listening to the top step YouTube channel. Those guys over there.
260	00:23:27 --> 00:23:31	They used to trade on the floor, and I absolutely love listening to their
261	00:23:31 --> 00:23:36	stories. I love listening to their banter, and I like using their chat
262	00:23:36 --> 00:23:40	window for sentiment, because it's a wonderful way of being able to see, you
263	00:23:40 --> 00:23:44	know, oversold when capitulation is there, when I can fade that type of
264	00:23:44 --> 00:23:48	thing. And please don't be put off by that, because they're doing the same
265	00:23:48 --> 00:23:52	thing when they talk about their tilt. That's a sentiment indicator. You know,
266	00:23:52 --> 00:23:55	all of you are going to want to use that. And all I'm doing is using the
267	00:23:55 --> 00:24:00	real time sentiment indicators that the commentary of these participants in that
268	00:24:00 --> 00:24:04	chat window and other YouTubers I like to listen to. I'm not there to learn how
269	00:24:04 --> 00:24:09	to trade. I'm there for the community aspect of listening to them talk about
270	00:24:09 --> 00:24:12	how it was for them on the floor. I love hearing I wish they would do more of
271	00:24:12 --> 00:24:17	that. I wish they would do more of that. I started when that was still a way of
272	00:24:17 --> 00:24:22	trading. You know, we're dinosaurs. That type, that way of trading, is gone.
273	00:24:23 --> 00:24:30	It'll never be like that again. And when I heard one of the gentlemen talk about
274	00:24:30 --> 00:24:39	how they had traded, and while they did well enough to come out in a profit, he
275	00:24:39 --> 00:24:44	said, I don't like it, and even though I was profitable, I don't feel I did well
276	00:24:44 --> 00:24:48	today. You know what that is? That's not That's not beating yourself up. That's
277	00:24:48 --> 00:24:53	reality, and that's exactly what all of you need to do. You can't just say,
278	00:24:53 --> 00:24:59	well, I pushed a button when I hope in a prayer, it worked out my favor. So
279	00:24:59 --> 00:25:05	therefore it's. Baby, look at me. Watch me shine. I have a great deal of respect
280	00:25:05 --> 00:25:09	for that. I have a great deal of respect for any trader that says, You know what?
281	00:25:09 --> 00:25:15	This worked out my favor. But really, it was just a state of me being fortunate
282	00:25:15 --> 00:25:18	enough to see it come out in my favor. It had nothing to do with skill. Because
283	00:25:18 --> 00:25:22	if I was being honest with you. I wish I wouldn't have taken that very trade.
284	00:25:22 --> 00:25:29	There are you equipped to to critique yourself that way where it's not you're
285	00:25:29 --> 00:25:36	not beating yourself up. You're not undermining the the mindset that you're
286	00:25:36 --> 00:25:42	going to need to tap into. You're not trying to belittle yourself. You're not
287	00:25:42 --> 00:25:45	trying to shame yourself, but you're holding yourself to accountability. And
288	00:25:45 --> 00:25:52	that's a very, very hard line to walk as a human being, let alone placing it on
289	00:25:52 --> 00:25:57	the measurement of making money or losing and equating that to failure or
290	00:25:57 --> 00:26:01	successfulness. And you can't, you can't do that in trading, because you can be
291	00:26:01 --> 00:26:06	successful and still just taking very small losses or getting into a trade and
292	00:26:06 --> 00:26:11	saying, Oh, well, I thought I saw something here, but it really isn't
293	00:26:11 --> 00:26:17	there. And if I hold on to it, really what I'm doing is I'm gambling because I
294	00:26:17 --> 00:26:20	don't feel confident about that setup. And I'm not going to wrestle and arm
295	00:26:20 --> 00:26:24	wrestle myself and say, Well, if I get out, I know it's gonna run and I'm gonna
296	00:26:24 --> 00:26:29	regret that. No, a professional mindset doesn't think like that. You know, who
297	00:26:29 --> 00:26:34	thinks like that? A gambler. You know, it's this slot machine is cold. I've
298	00:26:34 --> 00:26:38	been put money on it for two three hours. It ain't paying out nothing. But
299	00:26:38 --> 00:26:44	I know as soon as I get up Larry over there in the corner, who's eating? Dial
300	00:26:44 --> 00:26:49	it back in. ICT, slow down. Slow down. Someone else is going to slide on in
301	00:26:49 --> 00:26:52	when you get up, and you know what they're going to do, they're going to
302	00:26:52 --> 00:26:55	put enough money in. The ratio will be met, and then the machine will pay out.
303	00:26:55 --> 00:27:01	And you'll say, I knew I was right, if I just would have. Well, you can't do that
304	00:27:01 --> 00:27:10	in trading. You can't have a slot machine mentality. Because if you're
305	00:27:10 --> 00:27:15	gaining the experience, learning how to navigate these markets, knowing what
306	00:27:15 --> 00:27:22	you're looking for, if that's not there for your trade, everything's not saying
307	00:27:22 --> 00:27:26	this is really what you should be in right now. You're all things are our go
308	00:27:26 --> 00:27:30	for this trade to be profitable. If those things are not, in fact, what's
309	00:27:30 --> 00:27:34	going on for your trade, then you need to kill it, or at the very minimum, take
310	00:27:34 --> 00:27:40	half the trade off and let experience guide you and the rest of it. But if
311	00:27:40 --> 00:27:44	you're honest with yourself right now, if we were in a conversation together,
312	00:27:44 --> 00:27:47	it was just the privacy of you and I talking, and I'll say, Hey, have you
313	00:27:47 --> 00:27:51	ever had this experience where you knew you shouldn't have been in the trade,
314	00:27:51 --> 00:27:57	but yet you're still in it? Wouldn't you? Wouldn't you feel uncomfortable
315	00:27:57 --> 00:28:03	saying it publicly? You would feel uncomfortable because you're equating it
316	00:28:03 --> 00:28:09	to, well, it's not something that you know. People should blame. They
317	00:28:10 --> 00:28:16	shouldn't blame me for it. They shouldn't have any harsh criticism
318	00:28:18 --> 00:28:23	because I'm trading I'm doing more than you, and I was willing to hold on to the
319	00:28:23 --> 00:28:26	trade, even though I knew was not likely to be profitable, I was able to hold on
320	00:28:26 --> 00:28:31	to it. So therefore it makes me stronger. No, it makes you a gambler. It
321	00:28:31 --> 00:28:41	makes you a gambler. It makes you hold on to emotional stimuli for fear of
322	00:28:41 --> 00:28:47	feeling an emotional stimuli at a later time that was going to be regretful,
323	00:28:47 --> 00:28:53	because if you're right, if you're right, and you hold on to it, you're
324	00:28:53 --> 00:28:59	going to call that skill. And I'm here to tell you that's not skill. If you
325	00:28:59 --> 00:29:05	know your model's no longer in that setup. You're in there blind. You're
326	00:29:05 --> 00:29:11	like a sailboat in a storm with no rudder. Wherever the wind's going to
327	00:29:11 --> 00:29:14	carry you, that's where you're going to go. And if you make it to shore
328	00:29:14 --> 00:29:17	somewhere, you're going to call that port of destination where you intended
329	00:29:17 --> 00:29:27	to be. And that's a lie. That's a lie. So having realistic results, being
330	00:29:27 --> 00:29:32	comfortable with it, being content with it, aiming for a very low hanging fruit.
331	00:29:32 --> 00:29:36	Objective 2% if you're beginning, if you're not really consistent, aim for 2%
332	00:29:36 --> 00:29:43	a week. I promise you, I promise you, you can make a lot of money if that's
333	00:29:43 --> 00:29:48	all you ever do, and you intend to trade the rest of your life, 2% per week, does
334	00:29:48 --> 00:29:51	wonders. Does wonders.
335	00:29:53 --> 00:29:58	But see you think it needs to be hundreds of 1000s of dollars. You see
336	00:29:58 --> 00:30:02	these people getting these payouts. And these funded account companies, how many
337	00:30:02 --> 00:30:07	times did they have to reset and how many times they blow out? That's the
338	00:30:07 --> 00:30:12	that's the stat I would love to see when they put up their payout. You know,
339	00:30:12 --> 00:30:17	leaderboard says, Hey, this trader just took out $20,000 this trader just took a
340	00:30:17 --> 00:30:24	payout of $50,000 here's how you make it really good. And it's encouragement, and
341	00:30:24 --> 00:30:27	it reminds the people that are trying to pursue that type of trading say, okay,
342	00:30:27 --> 00:30:31	look, this person failed this many times. This is how many times this
343	00:30:31 --> 00:30:35	person tried to do a combine. This is how many times they got into a funded
344	00:30:35 --> 00:30:39	account and then lost it. And now this is where they're at. This is how long it
345	00:30:39 --> 00:30:46	took them then then you would be able to tap into some real data, some real
346	00:30:46 --> 00:30:50	information that would really be helpful to you, because it isn't a flash in the
347	00:30:50 --> 00:30:57	pan, overnight success. I know it wasn't for me, and I'm not saying that it can't
348	00:30:57 --> 00:31:01	happen for someone. Lightning strikes. You know, they happen sometimes, but as
349	00:31:01 --> 00:31:06	a realistic expectation that everybody should expect it for themselves. That's
350	00:31:06 --> 00:31:13	not practical, and this isn't a popular talking point, but it's the very thing
351	00:31:13 --> 00:31:18	that you need to be reminded of. I'm just going to drop the name here because
352	00:31:19 --> 00:31:26	I think you know, if, if you listen to the person talking in the video that I'm
353	00:31:26 --> 00:31:32	going to mention here in a second, put aside all the things about the person
354	00:31:32 --> 00:31:35	and the personality and the things that they've said in the past, and how they
355	00:31:35 --> 00:31:40	carry on and whatnot, because it's all, in my opinion, it's, it's performance
356	00:31:40 --> 00:31:44	for entertainment purposes and to draw a crowd, which, you know, I'm good at
357	00:31:44 --> 00:31:50	that. But when you listen to this person articulate the hardships that they're
358	00:31:50 --> 00:31:56	going through, that's the very reason why I watch this person, because I'm
359	00:31:57 --> 00:32:01	actively interested in seeing them overcome the very things that I'm
360	00:32:01 --> 00:32:04	talking about, and this is the first time I talked about it with this person
361	00:32:04 --> 00:32:10	in mind. I want this person to succeed. I want this person to grow. I want this
362	00:32:10 --> 00:32:16	person to feel accomplished and overcome a lot of mental barriers and listen.
363	00:32:16 --> 00:32:20	Just listen and take the good advice and run with it. You don't you don't you
364	00:32:20 --> 00:32:23	don't even have to thank me. You don't have to go and say, I listen to you. And
365	00:32:23 --> 00:32:30	it worked. Just listen and just do it. Okay? But Patrick Whelan, he posted a
366	00:32:30 --> 00:32:36	video last night, and I watched it early this morning, and I I posted a response,
367	00:32:36 --> 00:32:39	and it hasn't made its way to his comment section. And I noticed the other
368	00:32:39 --> 00:32:43	day, I was in a chat window, and none of my posts were making it there, so
369	00:32:43 --> 00:32:47	apparently I made my way on his band list, and I'm not sure why, but I've
370	00:32:47 --> 00:32:52	always been encouraging to him. But he posted a video, and this is the very
371	00:32:52 --> 00:33:01	type of video I like watching from him. Usually, he's very flamboyant, very much
372	00:33:01 --> 00:33:07	of a braggart, and does a lot of talk, and it's great. It's at least he has a
373	00:33:07 --> 00:33:14	lot of showmanship. But he admitted where he was in his position of being in
374	00:33:14 --> 00:33:21	a funded account. He showed where he is financially, where, you know he had this
375	00:33:21 --> 00:33:25	much, and this is where he's at. He's losing, he's losing, he's losing. And
376	00:33:25 --> 00:33:28	I'm not encouraging you to go over there and talk any kind of smack. I'm not
377	00:33:28 --> 00:33:31	telling you to go over there and troll him. I'm telling you that that's the
378	00:33:31 --> 00:33:37	very thing that this industry needs, that type of stuff, where individuals
379	00:33:37 --> 00:33:42	come out and say, Hey, this is hard. This is what I'm going through. This is
380	00:33:42 --> 00:33:46	what I got to work through. And yeah, I can make a lot of money, but then I end
381	00:33:46 --> 00:33:50	up losing it. And I don't know the answers yet. You do know the answers,
382	00:33:50 --> 00:33:55	Patrick, but what you're doing is what social media, YouTuber, Twitter,
383	00:33:55 --> 00:34:02	Instagram traders do is they're trying to be the biggest profitable person, the
384	00:34:02 --> 00:34:09	biggest profitable the standout from a crowd, type person. And that's that's a
385	00:34:10 --> 00:34:16	big Pitfall, because if you're always trying to be the gold medalist, unless
386	00:34:16 --> 00:34:21	you're Michael Phelps, a freak of nature, you know, the chances of you
387	00:34:21 --> 00:34:24	being like that consistently? I mean, look at he did a real good run of it,
388	00:34:24 --> 00:34:30	but he's, did he do it again and again and again and again? No, it has a short
389	00:34:30 --> 00:34:36	it has a short lifespan. It looks great when it happens. It feels great. And the
390	00:34:36 --> 00:34:40	viewers that don't have experience, they think that, okay, you've done this, you
391	00:34:40 --> 00:34:47	need to keep doing it this way. If you don't do it this way, then you're a
392	00:34:47 --> 00:34:53	fraud, then you can't trade when it's the very factors that you're placing on
393	00:34:53 --> 00:34:59	yourself that are unrealistic, trying to live up to other people's expectation.
394	00:34:59 --> 00:35:03	You. You end up either trying to trade your PNL, which is you're trading your
395	00:35:03 --> 00:35:11	profit and loss equity curve, which should never be done, but 90% of the
396	00:35:11 --> 00:35:16	time, I'll just go out and say it's 99% of the time, especially with funded
397	00:35:16 --> 00:35:20	account traders. You know, they freak out. They think that the losing trade,
398	00:35:20 --> 00:35:24	it is took, or even if they hit maximum loss and they are forced to stop
399	00:35:24 --> 00:35:28	trading, that's the beginning and the end. So you might as well just
400	00:35:28 --> 00:35:32	recklessly trade the wrestling, the rest of it, and then start a brand new one.
401	00:35:32 --> 00:35:38	You're still met with the same problem. You have to get to the funded state, you
402	00:35:38 --> 00:35:41	have to get to a profitable state, and you have to be able to eventually
403	00:35:41 --> 00:35:46	withdraw money, otherwise. Why are you doing it if you're not in this to trade
404	00:35:46 --> 00:35:50	and make money, and it's irrelevant what other people think is an amount of money
405	00:35:50 --> 00:35:54	that's significant or insignificant. It doesn't matter, because you're they're
406	00:35:54 --> 00:35:58	not gonna you're not gonna give what you made in the market. You're not gonna
407	00:35:58 --> 00:36:03	give that money to anyone. They're not gonna spend your money just the same way
408	00:36:03 --> 00:36:07	you're not going to spend theirs, but you're all pocket watching. I got people
409	00:36:07 --> 00:36:10	in the comment section saying, you know, why don't you show us your real setups?
410	00:36:10 --> 00:36:17	I am. Why don't you do this live in front of us? I'm not going to do that
411	00:36:17 --> 00:36:24	because I know many of you are reckless. You'll over leverage. You Won't you
412	00:36:24 --> 00:36:28	won't have the wherewithal to hold the stop where I place it, because you over
413	00:36:28 --> 00:36:31	leverage, you'll hurt yourself, and then you'll blame me, and I didn't do
414	00:36:31 --> 00:36:36	anything to except for do what I'm doing right now, and or other people will do
415	00:36:36 --> 00:36:40	it, get credit from having an amazing trade pan out, and they'll be able to
416	00:36:40 --> 00:36:44	pretend that they can do what I'm doing, and they'll start mentorships and fleece
417	00:36:44 --> 00:36:50	people and take them and take advantage of them. I don't need to do that. Just
418	00:36:50 --> 00:36:53	watch what I do on the robin Scout next year. That's all I'm gonna say. Just
419	00:36:53 --> 00:36:56	watch what I do next year. Okay, that's all you gotta worry about. You're gonna
420	00:36:56 --> 00:37:01	have all the things to talk about next year, but having unrealistic
421	00:37:01 --> 00:37:07	expectations of yourself, especially if you're an influencer or trying to be an
422	00:37:07 --> 00:37:12	influencer or a YouTuber, the ones that I like are the ones that come out and
423	00:37:12 --> 00:37:16	say, You know what? These are the hardships I went through, and this is
424	00:37:16 --> 00:37:18	what I'm still wrestling with. You know what? That's someone to listen to,
425	00:37:20 --> 00:37:26	that's someone to listen to, because they're not hiding that part. They don't
426	00:37:26 --> 00:37:35	owe anything to you. They owe nothing to you. But they're being candid enough to
427	00:37:35 --> 00:37:42	say, hey, look, you see this? You see that I got paid out from this company. I
428	00:37:43 --> 00:37:47	took a withdrawal from my live account. That's not a prop fund account. It's my
429	00:37:47 --> 00:37:53	actual trading. I showed you broker statements. I logged in and showed you
430	00:37:53 --> 00:37:59	three months of my trading, win, loss, everything. You're not obligated. I'm
431	00:37:59 --> 00:38:03	not obligated, rather, to share any of that none of these individuals on
432	00:38:03 --> 00:38:09	YouTube or on social media are obliv obligated to show you anything but this
433	00:38:09 --> 00:38:14	expectation, this unrealistic expectation that everybody needs to sit
434	00:38:14 --> 00:38:20	down and prove to you who was no one, Tom Dick and Harry showing up from The
435	00:38:20 --> 00:38:24	position of anonymity, you owe me a full explanation of everything. I don't owe
436	00:38:24 --> 00:38:30	you shit, and neither does anybody else. And you coming up as a trader, you you
437	00:38:30 --> 00:38:37	owe no one else anything. None of you are spending my money. None of you are
438	00:38:37 --> 00:38:40	sleeping my house. You're not going to drive in my cars. You're not going to go
439	00:38:40 --> 00:38:43	on vacations with me. I'm not going to have presence with your name under under
440	00:38:43 --> 00:38:47	my fucking tree. Okay, none of those things are going to happen. But in this
441	00:38:47 --> 00:38:54	world today, everybody expects everybody to give them stuff, information,
442	00:38:54 --> 00:39:01	details, things that are not in any way, shape or form realistic to be expected
443	00:39:01 --> 00:39:03	if I was running or if anyone else is running a signal service, then
444	00:39:03 --> 00:39:09	absolutely you better have something. Show me what you're doing. Then that
445	00:39:09 --> 00:39:15	makes sense. It makes perfect sense. But all of you are in a rush to be in a
446	00:39:15 --> 00:39:21	position where other people are going to demand information from you, details
447	00:39:21 --> 00:39:25	that you're not obligated to give. You're not obligated. You're absolutely
448	00:39:25 --> 00:39:31	not obligated. But the mindset today is this is what it should be, and if you
449	00:39:31 --> 00:39:34	don't want to dance to the beat of my drum, then you're a frog. Go fuck
450	00:39:34 --> 00:39:46	yourself. Okay, go back here and second one, peer driven performance. Now I have
451	00:39:46 --> 00:39:50	a lot to do with this, because when I show examples
452	00:39:51 --> 00:39:56	other people, they're intimidated by that because they they don't trade that
453	00:39:56 --> 00:40:00	way. They, many times, don't even use a stop loss, and you don't. Know where to
454	00:40:00 --> 00:40:03	do a partial. They don't know where the market's going to go, and they're just
455	00:40:03 --> 00:40:09	really just getting into a trade to find out what happens. And to me, that's, you
456	00:40:09 --> 00:40:13	know, on a hope and a prayer type trading, they might be profitable,
457	00:40:14 --> 00:40:18	because honestly, you can flip a quarter and trade heads and tails. And if you
458	00:40:18 --> 00:40:22	got really, really good risk management, and you risk very little. You can make
459	00:40:22 --> 00:40:27	money. I wouldn't sleep at night, trading like that, but you can make
460	00:40:27 --> 00:40:39	money. So if, if you feel like you are another person on social media, and you
461	00:40:39 --> 00:40:45	feel like because my community, or maybe it's some of the things I say. If you
462	00:40:45 --> 00:40:51	listen to what I'm saying, I attack retail theology because it's flawed. It
463	00:40:51 --> 00:40:54	really is. I don't care what you're going to say about it in response,
464	00:40:54 --> 00:40:57	you're making money because you're a good risk manager, not because of white
465	00:40:57 --> 00:41:00	golf, not because of supply and demand, not because of Elliott Wave. You're
466	00:41:00 --> 00:41:07	making money because of good risk management. That's all because none of
467	00:41:07 --> 00:41:11	that stuff makes the market go up or down, buying and selling pressure, depth
468	00:41:11 --> 00:41:17	of market, Dom, market profile, all of that is horseshit. It's bullshit. But I
469	00:41:17 --> 00:41:21	know people. I know personally, people that make lots of money, and they
470	00:41:21 --> 00:41:28	attribute their success to that, but that stuff is in alignment when they're
471	00:41:28 --> 00:41:32	profitable with the things that I teach, which is the reality of the marketplace.
472	00:41:32 --> 00:41:35	The market's going to seek yield. It's going to run for inefficiency, for the
473	00:41:35 --> 00:41:39	purposes of making that market efficiently delivered. That's a fair
474	00:41:39 --> 00:41:43	value gap, in other words, or it's going to run for liquidity. That's it. That's
475	00:41:43 --> 00:41:47	all that's happening. And when it's not doing that, it's going to consolidate.
476	00:41:48 --> 00:41:52	That's it. There are going to be times when the market has a manual
477	00:41:52 --> 00:41:58	intervention, when you're going to see that interest rates, employment data, an
478	00:41:58 --> 00:42:04	unexpected geopolitical event, something wartime, something you know, something
479	00:42:04 --> 00:42:09	completely unexpected, and they'll go in, they'll do something where any one
480	00:42:09 --> 00:42:12	of us could lose money, and there's nothing that can be done to save you
481	00:42:12 --> 00:42:18	from that. That's the underlying inherent risks, the trading. And most of
482	00:42:18 --> 00:42:23	you are unaware that those types of things are gonna happen, and you have to
483	00:42:23 --> 00:42:26	be aware of that. So when you're trading your account and you're trying to use
484	00:42:26 --> 00:42:33	the maximum leverage, okay, you're doing that with the expectation that you're
485	00:42:33 --> 00:42:39	gonna have the best outcome. When I'm telling you as a trader, especially for
486	00:42:39 --> 00:42:45	folks that have not yet found consistency or profitability, that's the
487	00:42:45 --> 00:42:50	worst thing to do. That's the worst thing to do just because top step, or
488	00:42:50 --> 00:42:53	any other company out there says you can trade with this number of contracts,
489	00:42:53 --> 00:43:00	that's not what a professionally minded trader will do. It's an IQ test. It's
490	00:43:00 --> 00:43:04	available. You can do that just like your acceleration pedal on your car
491	00:43:04 --> 00:43:07	says, yeah, it can be pressed all the way to the floor, if you hold it there
492	00:43:07 --> 00:43:10	long enough, your car will go as fast as it will go until it can't go further
493	00:43:11 --> 00:43:18	forward by accident, by a lane change that is not accessible, and you're going
494	00:43:18 --> 00:43:25	to hit a brick wall or something, just because it can go fast, just because you
495	00:43:25 --> 00:43:30	can go, you know, zero to 60 in a couple seconds, doesn't mean that you on the
496	00:43:30 --> 00:43:36	road. You're trading. You're trading that you're traveling on should be done
497	00:43:36 --> 00:43:40	in your neighborhood, with your neighbors, with small children out there
498	00:43:40 --> 00:43:45	playing on their bicycles just because your car can go zero to 60 in 2.3
499	00:43:45 --> 00:43:51	seconds. Is that efficiently done? Safely done? Is it the right thing to do
500	00:43:51 --> 00:43:54	in front of your house when those children of your neighbors or your
501	00:43:54 --> 00:43:58	children are out front doing it? No, of course not. That's poor risk management.
502	00:44:00 --> 00:44:04	But there are people that do those types of things, and they get away with it,
503	00:44:04 --> 00:44:08	and they get a high off of that, and they take that same mindset and they
504	00:44:08 --> 00:44:12	apply it to their trading. And you see that thing happening, that that state of
505	00:44:12 --> 00:44:18	mind, that that peer driven performance, people that have little dick energy will
506	00:44:18 --> 00:44:21	go out there and say, Oh yeah, this guy over here doesn't know to trade. I'm
507	00:44:21 --> 00:44:26	going to be in a competition with them, really not in a competition, but we're
508	00:44:26 --> 00:44:31	going to compete my results against theirs. That's one of the worst things
509	00:44:31 --> 00:44:35	you can do, because all you have to do is sit back and watch them. They hurt
510	00:44:35 --> 00:44:39	themselves. Why? Because it's peer driven performance. That's not how they
511	00:44:39 --> 00:44:44	would really trade. That's not how they would trade, and you shouldn't trade
512	00:44:44 --> 00:44:51	that way. And social media and peer driven performance trying to measure up
513	00:44:51 --> 00:44:55	against the next guy. Oh, this is, oh, it's demo. I'm gonna, I'm gonna try to
514	00:44:55 --> 00:44:59	do it with a real account, and I'm gonna try to maximize this and really trade
515	00:44:59 --> 00:45:04	unlike i. Normally would, and then wreck yourself in front of everybody and do do
516	00:45:04 --> 00:45:11	so much damage to your own brand. That's that's a poor decision. That's poor
517	00:45:11 --> 00:45:17	decision. Those things should not be done just because I can sit there all
518	00:45:17 --> 00:45:21	day long and buy and sell all down, up, down, up down all day long in any given
519	00:45:21 --> 00:45:25	market. Doesn't mean that I'm going to need to do it. I don't. I can sleep at
520	00:45:25 --> 00:45:29	night knowing that I don't have to do that every single day. For you, I'm
521	00:45:29 --> 00:45:34	content with not having to do tardy tricks. Okay? I don't need to perform
522	00:45:34 --> 00:45:39	for you. I do it because I want to do it. I do it. I have done it in the past
523	00:45:39 --> 00:45:45	to throw my nose at people that say this stuff doesn't work, but never be sucked
524	00:45:45 --> 00:45:50	into this peer driven performance. And many social media YouTuber traders get
525	00:45:50 --> 00:45:56	tied up in all that stuff. I've been steady Eddie going forward, and I just
526	00:45:56 --> 00:46:04	looked at the following on the YouTube channel, and I got under 25,000 under
527	00:46:04 --> 00:46:09	24,000 more, and at the million mark. So thank you very, very much for that, by
528	00:46:09 --> 00:46:13	the way. And it's very intimidating to know that that many people are listening
529	00:46:13 --> 00:46:17	to me, maybe not at one time, but that's a lot of people. You ever think about
530	00:46:17 --> 00:46:23	that? A million people listening to a kid from Middle River, Maryland. That's
531	00:46:23 --> 00:46:30	weird. But anyway, one of the other factors is, obviously you want to, you
532	00:46:30 --> 00:46:35	want to trade to be an influence on social media, maybe not necessarily, be
533	00:46:35 --> 00:46:40	in competition with other influencers, but you want to rise to the occasion as
534	00:46:40 --> 00:46:46	a social media influencer, that's a pitfall, because, again, you're trying
535	00:46:46 --> 00:46:52	to trade for notoriety and for the sake of being a celebrity versus I'm trying
536	00:46:52 --> 00:46:57	to trade so I can make money. I'm trying to trade so I don't have to go back to
537	00:46:57 --> 00:47:03	having to have a job. I'm trying to leave a employment that may be very
538	00:47:04 --> 00:47:07	beneficial to me and my family may help. They may offer all kinds of insurances.
539	00:47:07 --> 00:47:10	They may offer all kinds of benefits. But guess what? If you can trade
540	00:47:10 --> 00:47:14	profitably, you can afford those things too. And it's a tax writer for you. See,
541	00:47:14 --> 00:47:19	it's a tax write off for your employer to give that to you when you're in, when
542	00:47:19 --> 00:47:24	you're self employed, you can create all these other income streams, whereas a
543	00:47:24 --> 00:47:28	lot of things, like writing off a lot of specific things, trading in itself,
544	00:47:28 --> 00:47:32	can't do that. It's not legal to do that. It's not like you can't write off
545	00:47:32 --> 00:47:35	your commissions. You can't write off commissions. It's something you just
546	00:47:35 --> 00:47:44	can't deduct that. Well, if you create a secondary entertainment, an educational
547	00:47:44 --> 00:47:50	type thing, or a vlog where you just basically share your life and experience
548	00:47:50 --> 00:47:56	as a trader. Well, guess what? Everything you do now you can go out to
549	00:47:56 --> 00:48:00	eat, 50% of everything you spend on food is a write off, unless you do catering,
550	00:48:00 --> 00:48:07	which is 100% right off. You can go and show your homes, you can show your cars,
551	00:48:08 --> 00:48:15	your boats, your ATVs, your travel expenses are 100% right off. When I go
552	00:48:15 --> 00:48:21	and I travel, I stay at the nicest place all the time, and I if they have hotels
553	00:48:21 --> 00:48:26	that have the restaurants I want to be in those highest end restaurants. And I
554	00:48:26 --> 00:48:32	don't care about what it costs. I don't care about tipping lavishly, because all
555	00:48:32 --> 00:48:36	of that's going to lower my taxable income that's coming through that
556	00:48:36 --> 00:48:41	secondary income stream. So all these things I get paid to drive my Corvettes
557	00:48:42 --> 00:48:46	that I own. I don't rent them. I don't lease them, okay, my 2019 I started as a
558	00:48:46 --> 00:48:50	company lease. I paid 13 hours a month for it. When the lease was finished, I
559	00:48:50 --> 00:48:54	bought it outright. I still have it. If you want to see it, I'll take it for a
560	00:48:54 --> 00:49:02	ride. But I own all my cars, okay? But I maximized the writing off of it and then
561	00:49:02 --> 00:49:08	for the car, like the 2021 i depreciate it, the RV that I paid almost $300,000
562	00:49:09 --> 00:49:14	for, I'm in depreciation on that. I show it. It's part of my lifestyle when I'm
563	00:49:14 --> 00:49:19	out gallivanting around in it, and I'm making videos, I'm working from it. So
564	00:49:19 --> 00:49:24	I'm paid to have that vehicle. Whereas, if you out and you working at a good
565	00:49:24 --> 00:49:29	career job, and you're doing all this wonderful stuff, and even if you do very
566	00:49:29 --> 00:49:33	well, you can't write off those types of things. When you buy a car, you are
567	00:49:33 --> 00:49:38	eating it. When you put gas in your car, you're eating it. That's a write off for
568	00:49:38 --> 00:49:41	me. Why? Because I have a social media presence.
569	00:49:43 --> 00:49:46	See the difference? Why do I do this? Because I'm financially literate. You
570	00:49:46 --> 00:49:49	dumb fucks. The people that sit on the sidelines talking, oh, why is he? Have a
571	00:49:49 --> 00:49:55	YouTube to be so profitable? Because the tax treatment in this you can't do that
572	00:49:55 --> 00:49:59	with your trading. It doesn't matter how much money you make. You're fucking
573	00:49:59 --> 00:50:03	stupid. Get a book man, the bottom line is there's a different way of living
574	00:50:03 --> 00:50:07	when you're financially illiterate. Everything that people do that you don't
575	00:50:07 --> 00:50:11	understand because you're fucking broke. You're critiquing other people, not just
576	00:50:11 --> 00:50:16	me, anyone else. You're You're literally broke. You have no idea what you're
577	00:50:16 --> 00:50:21	talking about. You're not have you have any capacity to understand the benefits
578	00:50:21 --> 00:50:26	of being an entrepreneur. Outside of trading, there's so many benefits that
579	00:50:26 --> 00:50:32	this industry can provide for you. If you learn how to trade, you don't have
580	00:50:32 --> 00:50:37	to be making lots of money trading. Just got to know how to trade and be
581	00:50:37 --> 00:50:41	profitable if it replaces your job. Well, guess what? Then you can be in a
582	00:50:41 --> 00:50:46	position to be in social media and let that income stream provide and it could
583	00:50:46 --> 00:50:51	be very, very profitable, very profitable. I've said this very
584	00:50:51 --> 00:50:57	candidly. I've made millions, millions and millions and millions more as an
585	00:50:57 --> 00:51:03	educator than I did as a trader, because look how many people follow me. Think
586	00:51:03 --> 00:51:07	about that. Do the math. You're mathematically challenged. If you can't
587	00:51:07 --> 00:51:12	see that. I haven't taken millions of trades in my lifetime. I haven't done
588	00:51:12 --> 00:51:18	that. I haven't taken millions of trades. Do the fucking math here, folks,
589	00:51:18 --> 00:51:23	you're you're learning a skill set that opens the doors to so many other
590	00:51:23 --> 00:51:29	possible income streams and benefits by doing those very things, for someone to
591	00:51:29 --> 00:51:33	sit on the sidelines say, Oh, if he's so rich. But I was rich before I did all
592	00:51:33 --> 00:51:39	that stuff, but now, when an accountant sits down, hey, you know, if you do
593	00:51:39 --> 00:51:46	this, you can reduce your taxable income. Okay, so what if I do this,
594	00:51:46 --> 00:51:51	this, and this, this, this, yeah, you end up paying $25,000 a year in taxes.
595	00:51:52 --> 00:52:01	What? Yeah, $25,000 for federal and something for Maryland. But your income
596	00:52:01 --> 00:52:06	is $500,000 you can't do that with your fucking jobs, man. You can go to college
597	00:52:06 --> 00:52:10	all you want. You'll never do that with your college education jobs. You'll
598	00:52:10 --> 00:52:16	never do it, and it's absolutely 100 fucking percent legal. It's not tax
599	00:52:16 --> 00:52:22	evasion, it's the proper use of the tax code, and it is what it is, and people
600	00:52:22 --> 00:52:27	are gonna hate you because you're gonna live a better lifestyle than them, and
601	00:52:27 --> 00:52:31	you're gonna pay less taxes than them, and they're going to work next fucking
602	00:52:31 --> 00:52:40	Monday, all from what you're learning to do in these markets. So yeah, you
603	00:52:40 --> 00:52:45	should, if you have the aspiration to to have another income stream, you should
604	00:52:45 --> 00:52:50	tap into social media. You should do those things, but it shouldn't be the
605	00:52:50 --> 00:52:55	driving force behind it. You need to know how to do this well, trading,
606	00:52:55 --> 00:52:59	learning how to trade. Well, that's how you fortify this. Because guess what you
607	00:52:59 --> 00:53:05	can do with this? You can do a signal service if you're inclined to do that,
608	00:53:05 --> 00:53:10	and that is extremely profitable. I did a social media experiment on Twitter
609	00:53:10 --> 00:53:15	before I left it, I said, knowing what I do and seeing how I trade. If I was able
610	00:53:15 --> 00:53:19	to show this to you in a live setting, you're a part of community, but I'm
611	00:53:19 --> 00:53:23	going to charge you $500 a month. I'm not doing this, folks. I'm just saying,
612	00:53:23 --> 00:53:31	I'm just saying, This is what it's like. I had 1000s of people in this first day.
613	00:53:31 --> 00:53:35	I don't know what the tweeter, the tweet is now, where people were like, Yeah, I
614	00:53:35 --> 00:53:37	want to sign up. I still get emails every day. I wish I wouldn't have done
615	00:53:37 --> 00:53:41	it now. But people like, hey, I want to sign up to your signals here. I don't
616	00:53:41 --> 00:53:44	have a signal service. I'm not on Instagram. There's people over there
617	00:53:44 --> 00:53:47	claiming they have the official Instagram account of me. No, I did open
618	00:53:47 --> 00:53:51	an account. It was hacked. And I said, Fuck them. I'm not gonna go back on air
619	00:53:51 --> 00:53:55	again if they're gonna, if they're gonna let that happen. And I'm not worried
620	00:53:55 --> 00:53:58	about I don't need to be on Instagram. I'm right here. This is my social media
621	00:53:58 --> 00:54:04	presence, right here, YouTube. I can talk through you. I'll talk to you
622	00:54:04 --> 00:54:08	through the community posts, and I can do live streams. Okay, it's the same
623	00:54:08 --> 00:54:12	thing I was doing over at Twitter. Nothing is so time sensitive that you
624	00:54:12 --> 00:54:18	need to have the right away tweet like it was over there. But social media can
625	00:54:18 --> 00:54:23	be an income stream that you can maximize, and you get the tax benefits
626	00:54:23 --> 00:54:27	that you can't get as a trader, you can make lots and lots and lots of money
627	00:54:27 --> 00:54:33	trading, yes, but you can't write your boat off. You can't write your cars off,
628	00:54:33 --> 00:54:36	you can't write your food off. You can't do all those types of things. But if you
629	00:54:36 --> 00:54:41	have a secondary income stream where your presence online, and it could be a
630	00:54:41 --> 00:54:46	very subtle where you're not even that active. You just share things. You're
631	00:54:46 --> 00:54:49	not actually teaching anything. Say, here's a trade I took. Okay, if you have
632	00:54:49 --> 00:54:54	a following the purpose of you showing what your lifestyle is like, as soon as
633	00:54:54 --> 00:54:58	you start showing your personal things that becomes part of your image, your
634	00:54:58 --> 00:55:04	clothing, your how. Housing, all those things, your your utilities, part of
635	00:55:04 --> 00:55:08	that becomes an expense that you can write off your home office, they give
636	00:55:08 --> 00:55:11	you a percentage that you can write and obviously I can't write off my whole
637	00:55:11 --> 00:55:18	home but there's a square footage that my accountant works out where this is
638	00:55:18 --> 00:55:23	what we say, that you can write off as part of a deduction, and you work
639	00:55:23 --> 00:55:28	towards all these types of things all year long, and everything I spend is
640	00:55:28 --> 00:55:33	maximized, and if I can't write it off, generally, I won't buy it. I won't spend
641	00:55:33 --> 00:55:38	money on it. See that that's financial literacy. Just because I have a lot of
642	00:55:38 --> 00:55:41	fucking money doesn't mean I go out there and blow it like some stupid ass,
643	00:55:42 --> 00:55:49	buying up stuff, spending money just as you can is stupidity. But when you spend
644	00:55:49 --> 00:55:53	your money to be paid using the very things that you're buying or and
645	00:55:54 --> 00:56:01	spending your money on, you look at how many cars I have. Well, you're not
646	00:56:01 --> 00:56:06	showing any Lamborghinis. You're not showing any McLarens. I can't drive
647	00:56:06 --> 00:56:12	those cars in these streets up here, because it'll beat them to death. Two. I
648	00:56:12 --> 00:56:16	already worry with the Corvettes that I have because I don't want to get out of
649	00:56:16 --> 00:56:19	them and leave them, because people in the world are assholes, because they'll
650	00:56:19 --> 00:56:24	come down to Nokia. I've had it happen before. I would not feel comfortable
651	00:56:24 --> 00:56:30	leaving a McLaren anywhere. It just wouldn't happen. So you know this is
652	00:56:30 --> 00:56:33	these are opinions from people that are broke. They probably don't even have a
653	00:56:33 --> 00:56:37	fucking car to run around on a fucking bicycle. They stole two blocks from
654	00:56:37 --> 00:56:42	fucking where you live at these mindsets are flawed thinking. They're toxic
655	00:56:42 --> 00:56:47	thinking. And when you do get on a social media, even if you can trade,
656	00:56:47 --> 00:56:51	well, even if you do open up your trading platform, you log in with the
657	00:56:51 --> 00:56:55	password, and you go through day by day statements. They're gonna say that you
658	00:56:55 --> 00:56:58	never showed live trading. They're gonna say you don't make money. They're gonna
659	00:56:58 --> 00:57:03	say that it's all fake. These people are fucking idiots, but you're gonna dance
660	00:57:03 --> 00:57:11	to their drum beat. I don't, I don't. I pull strings and I make them dance. I
661	00:57:11 --> 00:57:16	make them watch themselves break their own brand in front of everybody, all
662	00:57:16 --> 00:57:20	with the intent that they're gonna try to destroy the downfall of ICT. This is
663	00:57:20 --> 00:57:27	a fucking amazing downfall. I'm rolling uphill without any effort. See, see what
664	00:57:27 --> 00:57:31	happens when you know what you're doing and you're out here trying to help other
665	00:57:31 --> 00:57:36	people. You can't beat that, you can't beat that, you can't defeat it. You can
666	00:57:36 --> 00:57:42	talk all the stuff that you want, but it never can beat it. It can't be
667	00:57:42 --> 00:57:45	diminished. It can't be tarnished. They can Photoshop. They can make all the
668	00:57:45 --> 00:57:52	bullshit up they want. Okay, you see me live in a fucking shack? No, nope. You
669	00:57:52 --> 00:57:57	see me unable to show you executions every fucking day, every single day, I'm
670	00:57:57 --> 00:58:02	laying them out there, just twisting the knife, just twisting it ever so slowly.
671	00:58:02 --> 00:58:09	ICT, I have fun with social media, but most of you don't have the the thick
672	00:58:09 --> 00:58:15	skin that I have. I can take a lot of stuff, many you can't, and you'll be
673	00:58:15 --> 00:58:20	tore up from it, and it'll influence your trading decisions. And then you'll
674	00:58:20 --> 00:58:25	wrestle with trading where you've never had that problem before, when it was
675	00:58:25 --> 00:58:31	private, when it was just you and your trading statements, what you did in the
676	00:58:31 --> 00:58:36	privacy of your own decision making, those types of things you want to you
677	00:58:36 --> 00:58:39	want to hold on to that moment in your trading as long as you possibly can,
678	00:58:39 --> 00:58:43	even if you want to be in social media eventually, because you want to be able
679	00:58:43 --> 00:58:51	to lean on that, that is a very strong Fortress of Solitude knowing that you
680	00:58:51 --> 00:58:54	don't have to be in social media. I don't need to be in social media. I
681	00:58:55 --> 00:58:58	stepped away from Twitter like I said I would, but I said I would be here. I
682	00:59:03 --> 00:59:07	uh, some of you don't like that. Some of you, when we go back over to Twitter,
683	00:59:07 --> 00:59:13	I'm not going back over to Twitter, but everything that you do should be driven
684	00:59:13 --> 00:59:18	with the mindset that you are focused primarily on keeping your trading
685	00:59:18 --> 00:59:24	excellent, your efficiency, your execution and entry, your stock
686	00:59:24 --> 00:59:27	placement, your trade management. You're not over leveraging. You're not trying
687	00:59:27 --> 00:59:32	to do the maximum outcome, and you're worried about capital preservation.
688	00:59:32 --> 00:59:37	Number one, first and foremost, is you're not trying to risk money
689	00:59:37 --> 00:59:41	needlessly for the sake of being in there and seeing what happens, because
690	00:59:41 --> 00:59:44	I'm going to save you some money and time and heartache. Here's what's going
691	00:59:44 --> 00:59:48	to happen. You're going to lose your ass, and that one trade is going to
692	00:59:48 --> 00:59:51	cause you to go into a tailspin, and you're going to blow your account trying
693	00:59:51 --> 00:59:56	to rush to get it back. It happens all the time. Just, just don't do it,
694	00:59:56 --> 01:00:06	period, and find. Lean lead dog pitfall. Everybody wants to be the lead dog.
695	01:00:06 --> 01:00:09	Everybody on every on Twitter right now is clamoring to be the person everyone
696	01:00:09 --> 01:00:14	wants to talk about. It's silly, isn't it? And I'm not even over there anymore,
697	01:00:14 --> 01:00:20	and they're still bringing my name up. Here's the problem with this. Okay, if
698	01:00:20 --> 01:00:27	you don't have the re the real skill to be lead dog, you're going to be the one
699	01:00:27 --> 01:00:31	that tries to pretend to be lead dog. But guess what? Lead dog is the first
700	01:00:31 --> 01:00:38	one that falls into this, the pit, the snare, runs into the obstacle that needs
701	01:00:38 --> 01:00:43	to determine what's the next pathway, because you have a large following
702	01:00:43 --> 01:00:47	behind you, or you trying to build one, and you got to know where you're going.
703	01:00:48 --> 01:00:52	And most people out there pretending to be lead dog, they love having their
704	01:00:52 --> 01:00:57	asses sniffed, but they have no idea where they're going. They have no idea
705	01:00:57 --> 01:01:03	where they're going. So don't try. I don't try to be lead dog. I don't try to
706	01:01:03 --> 01:01:09	be lead dog. I just I'm me. And when I see bullshit, I'm going to call it
707	01:01:09 --> 01:01:13	bullshit. I'm going to tell you what works and what doesn't work for me. And
708	01:01:13 --> 01:01:18	if I say I like something, I don't like something, don't be so close minded.
709	01:01:18 --> 01:01:21	Say, well, ICC said he doesn't like it, so therefore I'm gonna think like him.
710	01:01:21 --> 01:01:27	That's the stupidest thing in the world to do. That is called like be critical.
711	01:01:27 --> 01:01:32	If I say I don't like something, well, if it doesn't bother you, then just
712	01:01:32 --> 01:01:36	dismiss it. Who cares? That's your opinion. It's wonderful. I didn't ask
713	01:01:36 --> 01:01:41	for it, but okay, we heard you. But if I say I don't like something, and this is
714	01:01:41 --> 01:01:45	the reason why I don't like it. Don't subscribe to that viewpoint, just simply
715	01:01:45 --> 01:01:50	because I said that I made those mistakes as a martial artist, as a young
716	01:01:50 --> 01:01:57	man, as a child, listening to martial arts, I like I looked up to and they
717	01:01:57 --> 01:02:01	would say certain things. I'm like, Okay, I'm gonna think like you. And then
718	01:02:01 --> 01:02:06	I found out that I couldn't hold that opinion of what they had and when I,
719	01:02:06 --> 01:02:11	when I first started trading and learning how to trade, everybody I read
720	01:02:11 --> 01:02:15	a book of, you know, I hung on every word that they wrote or said. Larry
721	01:02:15 --> 01:02:19	Williams was the one that I basically, I'm gonna be honest with you. You know,
722	01:02:19 --> 01:02:24	when I read his, how many million dollar trading commodities last year, and
723	01:02:24 --> 01:02:28	listened to those first four VHS, I was convinced that this guy was a
724	01:02:28 --> 01:02:32	billionaire. I'm not a billionaire, and some of you think I pull fucking
725	01:02:32 --> 01:02:39	trillions of dollars at my ass all the time. I'm not. The facts are you need to
726	01:02:39 --> 01:02:45	be an independent thinker, and you might have heroes. You might have people you
727	01:02:45 --> 01:02:50	look up to but never meet them, because the the pedestal you put them on,
728	01:02:51 --> 01:02:55	they're undeserving of it. I'm undeserving of what many of you think of
729	01:02:55 --> 01:03:00	me. I am a sinning, foul mouth person that wrestles with mental illness. Do
730	01:03:02 --> 01:03:07	you want to learn from me? See how hard of a sell that is? So I had to make
731	01:03:07 --> 01:03:13	videos, edit out those character flaws in me, so that way you could get past
732	01:03:13 --> 01:03:17	that, to see that this is what you should focus on while learning how to
733	01:03:17 --> 01:03:20	trade. I've been there. I've hurt myself, I've made lots of money and I've
734	01:03:20 --> 01:03:24	lost lots of money. So you tell me, do you want to make the same fucking
735	01:03:24 --> 01:03:27	mistakes that I've done when you can avoid it? Here's what you can avoid
736	01:03:28 --> 01:03:33	doing. Don't do this, don't do that, do these things. This is what helped me.
737	01:03:33 --> 01:03:36	And I have students that are making money because they listen to this
738	01:03:36 --> 01:03:43	information. They follow it. Where's the, where's the the faulty in that
739	01:03:43 --> 01:03:49	there's no, there's no faulty logic in it. It's based on real experience. It's
740	01:03:49 --> 01:03:56	based on an unadulterated, completely candid, I did my own ass in trading
741	01:03:56 --> 01:04:03	other stupid shit that has no bearing on why price is going to go up or down. So
742	01:04:03 --> 01:04:09	my whole life was, how do I fortify those weak points in the fear, the
743	01:04:09 --> 01:04:15	triggering moments of what did I fear most about trading, not knowing how to
744	01:04:15 --> 01:04:21	get in. I have so many ways to get into a trade now, it's unrealistic for you to
745	01:04:21 --> 01:04:25	have to have that many ways to get in, but I that was a real thing for me. I
746	01:04:25 --> 01:04:33	was a phobia. I don't hide my mental illness. I don't hide it from you. When
747	01:04:33 --> 01:04:38	I was on baby pips, I was trying to hide it. I was trying very, very hard to hide
748	01:04:38 --> 01:04:44	it, because I was afraid of it being used against me, and people still do.
749	01:04:45 --> 01:04:51	But you know, I can't change it. I can't fix it, so I have to wrestle with it and
750	01:04:51 --> 01:04:55	live with it. I'm a real person, just like you are. I have real things going
751	01:04:55 --> 01:04:58	in my personal life that I have to worry about and wrestle with. I have children
752	01:04:58 --> 01:05:02	that don't want to listen to me do. Like you do, or if you have children, or will
753	01:05:02 --> 01:05:06	have children, you'll have that experience too. They're not going to do
754	01:05:06 --> 01:05:11	what you tell them to do, which is good advice. Don't do this. Don't do that. If
755	01:05:12 --> 01:05:16	you get a flat tire to my daughter, don't drive home. Just tell me where
756	01:05:16 --> 01:05:19	you're at and we'll get it taken care of. And they drive home, they tear up
757	01:05:19 --> 01:05:25	the tire completely, and they ruin the rent. I told you don't drive it, yeah,
758	01:05:25 --> 01:05:28	but I didn't want to sit where I was sitting. You were completely safe in a
759	01:05:28 --> 01:05:34	shopping center. Come on, it was daytime. Come on, right? It's common
760	01:05:34 --> 01:05:39	sense, but you know what it's like when you don't listen? I tell you, don't
761	01:05:39 --> 01:05:42	trade on Non Farm Payroll, Friday, days, and what do you do? I want to see what
762	01:05:42 --> 01:05:47	happens. And then you're sending me emails. I wish I would have listened. So
763	01:05:47 --> 01:05:52	I mean, I get it. I mean, I get it. You want to be the exception, but that lead
764	01:05:52 --> 01:05:56	dog pitfall that it ain't never going to happen in you, and you're going to be
765	01:05:56 --> 01:06:00	the one that rises to the occasion, and you're going to have all the answers,
766	01:06:01 --> 01:06:07	man, I prematurely thought I had all the answers in the 90s. I thought I had them
767	01:06:07 --> 01:06:13	all figured out then, and I didn't. And I started teaching way before I knew
768	01:06:13 --> 01:06:19	what the hell I was doing, and I was discovering things while teaching that
769	01:06:19 --> 01:06:25	were actual weaknesses on me, and then I had to fortify those weak areas in my
770	01:06:25 --> 01:06:31	trading with protocols, processes, things that fill in the blank that I had
771	01:06:31 --> 01:06:38	a real phobia about. And the thing primarily was, how do I know when to
772	01:06:38 --> 01:06:41	buy? Because I didn't want to be a short seller, so I had to figure out, what
773	01:06:41 --> 01:06:46	were the catalysts that make me feel confident that I can buy that market
774	01:06:46 --> 01:06:53	knowing that it's not likely to drop. So if I can figure out when to time that
775	01:06:53 --> 01:06:57	all I have to do is sit around and wait for those conditions, and then when I do
776	01:06:57 --> 01:07:04	press the button, I'm just going to hold on to it until it bends to MY will. That
777	01:07:04 --> 01:07:10	became the secondary thing I would force my will on the marketplace. So I had to
778	01:07:10 --> 01:07:15	learn that even though I might have all those things in line that says I have a
779	01:07:15 --> 01:07:18	good buying opportunity, and it's meeting all the criteria that I had at
780	01:07:18 --> 01:07:22	the time, which was myopic, don't, don't think that I had it figured out back
781	01:07:22 --> 01:07:26	then, because I didn't. That was the early stages of me just falling in love
782	01:07:26 --> 01:07:32	with being right. That's a problem. But at the time, you think that their
783	01:07:32 --> 01:07:36	strengths, you think that they are the characteristics that make you a warrior.
784	01:07:36 --> 01:07:39	You're going to go out there. No one's going to hold you back. I'm going to
785	01:07:39 --> 01:07:43	beat it. I'm gonna beat everybody else's results. I'm gonna be the person. I'm
786	01:07:43 --> 01:07:53	gonna be lead dog. And I put myself through so much shit, losing accounts,
787	01:07:53 --> 01:07:59	blowing accounts, losing wonderful wins. Work for a whole month, building up
788	01:07:59 --> 01:08:07	equity. No. Losing days, none. And in one day, that starts off, picture
789	01:08:07 --> 01:08:14	perfect. I put the trade on bond starts shit in the bed. I'm long like, What the
790	01:08:14 --> 01:08:17	hell is this? All right, it's just dropping against me a little bit. I'm
791	01:08:17 --> 01:08:21	gonna buy more of it up. It's dropping a bit more. I don't know where to place a
792	01:08:21 --> 01:08:25	stop loss, but I'm right, so let me take the stop loss off. Well, you knew the
793	01:08:25 --> 01:08:32	end of that the account loan, I've wrestled, arm wrestled the entire day
794	01:08:33 --> 01:08:38	from the opening bell of bonds, trying to be long on a day that opened at the
795	01:08:38 --> 01:08:46	high and just kept going down. Never had one tick above the opening price. And I
796	01:08:46 --> 01:08:50	was wrestling with that as a 20 year old. When you think your shit doesn't
797	01:08:50 --> 01:08:54	stink, you're the cocktail walk. You made money all month long. No losing
798	01:08:54 --> 01:08:59	days, the Friday that ends the trading of that month.
799	01:09:00 --> 01:09:08	All that's gone and the account that's demoralizing, that's demoralizing, and
800	01:09:08 --> 01:09:12	that people that come up in this industry and they tell you, they fucking
801	01:09:12 --> 01:09:20	never blew an account. They're full of fucking shit. They are liars. They are
802	01:09:20 --> 01:09:24	liars. There is no progeny that walks out there in this world. They were
803	01:09:24 --> 01:09:28	touched by the grace of God, and they've never blown an account. That's never
804	01:09:28 --> 01:09:33	happened. It's never happened like that. Everybody, everybody has done that,
805	01:09:34 --> 01:09:38	anybody that claims they never have done that, they are liars or they just
806	01:09:38 --> 01:09:43	started. Just wait around because it's going to happen. It's human nature,
807	01:09:43 --> 01:09:46	folks, you do this long enough you're going to think that you figured it all
808	01:09:46 --> 01:09:50	out, and then when you find out that you won't have it, right, you want to use
809	01:09:50 --> 01:09:54	the magic eraser and get rid of that red day. And you're willing to do anything.
810	01:09:55 --> 01:09:59	You're willing to pay any commission level, right? Vinnie to try to get back
811	01:09:59 --> 01:10:06	to E. And you'll spend 6500 hours on commissions, just so you don't have a
812	01:10:06 --> 01:10:12	losing day. I should do stuff like that. I used to do that stupid shit. I used to
813	01:10:12 --> 01:10:22	do it. But there's a better way. There's a more efficient, less stress way to do
814	01:10:22 --> 01:10:28	it. It's going to require effort. It's going to take diligence and organization
815	01:10:28 --> 01:10:32	and a level of commitment to following rules that you're usually not used to
816	01:10:32 --> 01:10:39	doing, which makes this business very, very hard. You want to have it easy.
817	01:10:40 --> 01:10:46	Trading will and can be easy. It is. It really is easy if you're waiting for the
818	01:10:46 --> 01:10:51	choicest days to trade where the market structures so in favor of running to a
819	01:10:51 --> 01:10:56	specific pool of liquidity or inefficiency, everything moving in one
820	01:10:56 --> 01:11:02	tandem direction, everything being symmetrical, everything being so
821	01:11:03 --> 01:11:06	telegraphed that it's going to do this very thing. All you have to simply wait
822	01:11:06 --> 01:11:14	for it. Those conditions, is what I taught you. The problem is you're trying
823	01:11:14 --> 01:11:17	to force that just because you're sitting in front of the charts. ICT said
824	01:11:17 --> 01:11:21	the silver bullet happens between 10 o'clock and 11 o'clock. So I'm sitting
825	01:11:21 --> 01:11:28	down, and it's 1001, so I'm looking to take a trade. Where's the where's the
826	01:11:28 --> 01:11:37	problem? There you're forcing it. You're chomping at the bit, and your desire is
827	01:11:37 --> 01:11:46	forcing you to invite your will on the market. You already see yourself being
828	01:11:46 --> 01:11:51	accomplished in finding the right setup, because you know it's coming. But you
829	01:11:51 --> 01:11:56	might be looking at a two minute chart and it might not really be there. You
830	01:11:56 --> 01:11:59	might be looking at the one minute chart and it might not be there, and it
831	01:11:59 --> 01:12:05	materializes on a 15 second chart. Oh, man, see, he's always got a nail. No, I
832	01:12:05 --> 01:12:10	have lots of ways to get in. In my silver bullet may not be on the one
833	01:12:10 --> 01:12:16	minute chart. It may have been on a 32nd chart. I may have missed the exit, I'm
834	01:12:16 --> 01:12:21	sorry, the entry point on a silver bullet that I really would have been
835	01:12:22 --> 01:12:27	better suited to enter because I was chasing a puppy, or I walked away to
836	01:12:27 --> 01:12:31	grab a drink. Or, you know, there's packages left in front of my door. I
837	01:12:31 --> 01:12:34	gotta bring them in because my wife's saying I'm not home right now, and I
838	01:12:34 --> 01:12:38	just gotta alert saying that Amazon dropped off packages. Please. Please,
839	01:12:38 --> 01:12:42	bring them in like we live in a bad neighborhood, right? So these are all
840	01:12:42 --> 01:12:48	distractions, and because I'm watching a very small time frame, that point at
841	01:12:48 --> 01:12:52	which I'm trying to enter, may have I may have missed it. Oh, that's big. No
842	01:12:52 --> 01:12:56	big deal. If I miss an on one minute chart, I'll drop down to a 32nd 15
843	01:12:56 --> 01:12:59	second and five second chart, and then I'll use a fair value gap on that. I'm
844	01:12:59 --> 01:13:03	not missing the move, folks, I'm not going to miss the majority run of
845	01:13:03 --> 01:13:09	whatever I'm looking for. I may miss that pristine entry point and see for
846	01:13:09 --> 01:13:13	some of you, while you're new, you think because you missed that point of entry,
847	01:13:14 --> 01:13:20	it's done. When I tell you, if you miss it, to simply wait and watch it. That's
848	01:13:20 --> 01:13:25	teaching you patience. You don't have that when you first start. You don't
849	01:13:25 --> 01:13:29	have patience because you're trying to chase the lead dog, whether it be me,
850	01:13:29 --> 01:13:32	somebody else that's saying they making money. Someone else is doing something
851	01:13:32 --> 01:13:36	on our live stream, someone else is doing signal services. Someone else is
852	01:13:36 --> 01:13:41	doing whatever you're constantly trying to run when it's better for you in the
853	01:13:41 --> 01:13:46	beginning to learn to sit still. Observe. How are you thinking about the
854	01:13:46 --> 01:13:51	marketplace? Do you feel like this insatiable desire that you've got to be
855	01:13:51 --> 01:13:55	in there today, like come hell or high water? Even if you only get five handles
856	01:13:55 --> 01:14:00	of the 30 handle run, if you just get a piece of it, you know, at least you got
857	01:14:00 --> 01:14:05	something. You took a, you look a bite of the, you know, the beast that you've
858	01:14:05 --> 01:14:12	been hunting, that's a hyenas approach, you know, I don't, I don't trade like a
859	01:14:12 --> 01:14:18	hyena. I'm not out there cackling and making crazy noises and shit trying to
860	01:14:18 --> 01:14:24	just get a snap, a bite of something. I'm out there, literally stalking and
861	01:14:24 --> 01:14:31	waiting, and when I see the weak one in the herd, the Judah swing to see the
862	01:14:31 --> 01:14:36	retail traders thinking that they got something that's easy money for them. If
863	01:14:36 --> 01:14:41	that's 100% diametrically opposed to what I'm anticipating in price, I'm
864	01:14:41 --> 01:14:47	running that fucker down, and I'm going home with a full belly. And I'm not
865	01:14:47 --> 01:14:51	second guessing it. I'm not worrying about what other people are doing, what
866	01:14:51 --> 01:14:54	they think's making the market go up or down, what the volume profile said, what
867	01:14:54 --> 01:14:58	volume node they're looking at, what point of control, what V wop, what
868	01:14:58 --> 01:15:02	fucking supply and demand zone, what. To get wave count is I don't give a fuck
869	01:15:02 --> 01:15:10	about none of that stuff. I know exactly what I'm looking for. I'm not worried
870	01:15:10 --> 01:15:16	about anything else. I'm dialed in. I know exactly what I'm hunting. I got my
871	01:15:16 --> 01:15:24	eyes set on it, and I'm gonna run it down, and I'm taking it home. That's not
872	01:15:24 --> 01:15:31	arrogance, that's not narcissism, that's absolutely defined as confidence,
873	01:15:31 --> 01:15:36	because I've been here enough times to know that what I'm doing works. I don't
874	01:15:36 --> 01:15:40	need to change it. I don't need to look at somebody else to help me make it
875	01:15:40 --> 01:15:45	better. I'm not looking at any retail logic, because it's not even in there.
876	01:15:45 --> 01:15:52	I'm attacking that I am an apex predator. Is attacking the weakest form
877	01:15:52 --> 01:15:59	of trader in this industry at a time when they're making their actions known.
878	01:15:59 --> 01:16:04	This is what I'm gonna do, Mr. Six months of experience. And that's not a
879	01:16:04 --> 01:16:07	knock against anyone that has little experience. But if someone's gonna be so
880	01:16:07 --> 01:16:13	courteous enough to say, Hey, I believe this is what's gonna happen, where do
881	01:16:13 --> 01:16:17	they come? Where do they come? Late? Where they where they congregate and
882	01:16:17 --> 01:16:25	meet up on live streamers, live streams. That's a beautiful resource. It's a
883	01:16:25 --> 01:16:31	beautiful resource. You should encourage them to do it show up. I That's what I'm
884	01:16:31 --> 01:16:34	doing when I talk about top step, when I talk about Patrick wheeling, when I talk
885	01:16:34 --> 01:16:38	about trades by Matt. And there's a couple other people, I won't mention.
886	01:16:39 --> 01:16:47	They have really, really opinionated chat windows, and when I say things like
887	01:16:47 --> 01:16:52	that, it's very easy for people to have an issue with me. They want to try to
888	01:16:52 --> 01:16:56	paint me in a different light. I'm telling you that market sentiment is a
889	01:16:56 --> 01:17:02	thing. It's real okay. If you go to top step, they're basically telling you that
890	01:17:02 --> 01:17:07	they're looking at their traders. And how many are net long? How many short?
891	01:17:07 --> 01:17:11	Are they assholes for making that available? No, I think it's great. It's
892	01:17:11 --> 01:17:17	absolutely great information. It doesn't mean that that's a selling signal or a
893	01:17:17 --> 01:17:22	buy signal. It just that's a good sentiment read, but the better one is
894	01:17:22 --> 01:17:28	what they're saying in that chat window. Because if I already know that
895	01:17:28 --> 01:17:34	predominantly, most traders are offside, okay, whether trading in the top step
896	01:17:35 --> 01:17:39	company, whether trading in other companies, I can't think of any other
897	01:17:39 --> 01:17:47	company's name, but if this resource is made available to you, it's like a
898	01:17:47 --> 01:17:55	watering hole, just like on the on the plains of Africa. Okay, I'm this fucking
899	01:17:55 --> 01:18:00	cheetah. I'm hungry. I'm trying to get a fucking meal today. So I'm looking out
900	01:18:00 --> 01:18:08	here in the dry landscape in front of me. I want to get something to eat. So
901	01:18:08 --> 01:18:10	where am I gonna go? I'm gonna go through the fucking drive through.
902	01:18:10 --> 01:18:14	Where's that? At the watering hole? So they go out there and they lay down in
903	01:18:14 --> 01:18:19	the brush, and they watch all the animals go out there and they get a
904	01:18:19 --> 01:18:29	drink. Eventually, one's gonna walk over there with a bum leg, but they have the
905	01:18:29 --> 01:18:33	opinion that they're safely gonna make it to the watering hole, get a drink and
906	01:18:33 --> 01:18:36	live on the rest of the day. That's what their sentiment is, and they're making
907	01:18:36 --> 01:18:39	it known to everybody by walking out there publicly
908	01:18:39 --> 01:18:43	well as the same mindset as these individuals that share their opinion
909	01:18:43 --> 01:18:49	they're going to these, these watering holes, to me, that tells you it's a
910	01:18:49 --> 01:18:54	pretty safe bet that they're probably very new to trading, and if they're very
911	01:18:54 --> 01:18:59	chatty, the same names that keep coming up, they're the ones that absolutely
912	01:18:59 --> 01:19:03	don't know what the fuck they're talking about, because they can't shut up.
913	01:19:04 --> 01:19:08	They're chatty. The chattiest ones that show their opinion start paying
914	01:19:08 --> 01:19:13	attention to those individuals online too, not just simply in chat windows, on
915	01:19:13 --> 01:19:18	Twitter, on Instagram, on Facebook, whatever, whatever resource. If you're
916	01:19:18 --> 01:19:23	in discord, I don't go to any of those types of things, but in for the clarity,
917	01:19:23 --> 01:19:27	also, I don't have Facebook, I do not have Instagram. I am not on Discord.
918	01:19:27 --> 01:19:31	You're not going to talk to me on telegram. I don't have any other social
919	01:19:31 --> 01:19:34	media where you're going to be able to engage with me, except for my YouTube
920	01:19:34 --> 01:19:38	channel. That's it. There's nothing else. If you see anybody else pretending
921	01:19:38 --> 01:19:42	to be me, they're fucking liars, and if they're asking for money, it ain't me.
922	01:19:42 --> 01:19:50	So by watching these individuals online and when they share their opinion about
923	01:19:50 --> 01:19:57	what's going to happen, or if they co sign someone else's opinion, if that is
924	01:19:57 --> 01:20:01	diametrically opposed, that means it's op. To what I think is going to happen
925	01:20:01 --> 01:20:04	under the day. If I think it's going to be a bullish day, it's going to run for
926	01:20:04 --> 01:20:08	some some buy side liquidity above an old high or relatively equal highs. Or
927	01:20:08 --> 01:20:12	if I think it's going to reach up to an old fair value guy, if that's what I'm
928	01:20:12 --> 01:20:17	holding to as my expectation on the day, I'm going to side with that all the
929	01:20:17 --> 01:20:21	time. I got 30 years of doing this, these individuals are hanging out in the
930	01:20:21 --> 01:20:26	chat windows of these prop firm companies. Chances are, they're probably
931	01:20:26 --> 01:20:30	not long term traders. The chances of them being profitable or is very slim,
932	01:20:30 --> 01:20:35	and they're in there because they want other people to tell them what they
933	01:20:35 --> 01:20:38	should do, because they don't know what they're doing, but because they want to
934	01:20:38 --> 01:20:42	be part of something. The mindset is this, if I start talking a lot, it's
935	01:20:42 --> 01:20:45	going to feel like I'm part of the crew, but really, what you're doing is you're
936	01:20:45 --> 01:20:49	running out to that warning hole with a bum leg and part of your ass missing.
937	01:20:49 --> 01:20:54	That means I'm going to run you down easy your easy meal for me, dollar menu.
938	01:20:54 --> 01:21:00	Here you go, real cheap, easy meal. And if you're telling the world on that
939	01:21:00 --> 01:21:05	stage, that this is what you think is going to happen. You're going to make it
940	01:21:05 --> 01:21:08	to that watering hole and get to live the rest of the day. I'm going to be
941	01:21:08 --> 01:21:12	there at that watering hole eating your ass. Okay? I'm going to devour you right
942	01:21:12 --> 01:21:18	there. You're done. I'm fed. You're done. It's a mercy killing. That's how I
943	01:21:18 --> 01:21:22	look at it. I don't have a problem with it. I don't wrestle with it morally. It
944	01:21:22 --> 01:21:26	is the way it is. The food chain is what it is. You're either an apex predator or
945	01:21:26 --> 01:21:32	your asses prey, and I'm not getting eaten by nobody. Nope. I'm going to
946	01:21:32 --> 01:21:39	sharpen my flaws every day. I'm going to keep my teeth sharpest longest, and I
947	01:21:39 --> 01:21:46	want to make sure I eat. So how do you do that? You couple yourself with the
948	01:21:46 --> 01:21:51	weakest form of trader and use them as Counterparty. That's the whole essence
949	01:21:51 --> 01:21:56	of what sentiment is. That's what the benefit of market sentiment is. Looking
950	01:21:56 --> 01:22:03	for the weakest mindset in the most apt to be wrong, to be suggesting a
951	01:22:03 --> 01:22:09	direction that is opposed to what you with, more experience, more track
952	01:22:09 --> 01:22:15	record, more accuracy, is against when that arm wrestling match is going on
953	01:22:15 --> 01:22:18	between Smart Money, someone has been doing it for a very long time. I mean,
954	01:22:18 --> 01:22:23	think about it. There is nothing out there in the world that would ever
955	01:22:23 --> 01:22:26	entice me to go out there and grab a golf club and spend a whole afternoon
956	01:22:26 --> 01:22:30	trying to put a ball in a fucking hole. I know I can't do that. I know I can't
957	01:22:30 --> 01:22:33	do it. I'm not going to hang around people that do it. I'm not going to
958	01:22:33 --> 01:22:36	waste my time doing it, and I sure as hell I'm not going to watch it on TV.
959	01:22:36 --> 01:22:41	But people do it. They love it. Okay, so if I was go out there and try to golf
960	01:22:41 --> 01:22:47	against like Tiger Woods, and I would look like an idiot. There was there's no
961	01:22:47 --> 01:22:52	way I would even do that. Okay, but that's the equivalent in my mind. When I
962	01:22:52 --> 01:22:55	see someone that is green, they're brand new, they have no idea what they're
963	01:22:55 --> 01:22:59	talking about or doing, and they're not profitable, but they're always chatting
964	01:22:59 --> 01:23:04	it up, what they think the market's going to do. Just sit back for a week
965	01:23:04 --> 01:23:10	and watch them. You'll see the people that do it, and then fade them when the
966	01:23:10 --> 01:23:16	market is poised. Based on what I teach, it's near perfect setups. It's near
967	01:23:16 --> 01:23:25	perfect. I use them like a retail Squawk Box, and some of you are sending
968	01:23:25 --> 01:23:29	comments to me and you say, I'm a dick, I'm an asshole, I'm a narcissistic
969	01:23:29 --> 01:23:35	prick. Because I'm saying this, I'm giving you an advantage, like it's a
970	01:23:35 --> 01:23:41	real time advantage, because people are creatures of habit, if the people that
971	01:23:41 --> 01:23:44	are doing it, and they realize they're listening and they're thinking, I'm not
972	01:23:44 --> 01:23:48	gonna do that anymore, it doesn't matter. PT Barnum said it, there's a
973	01:23:48 --> 01:23:51	sucker born every second. And guess what, somebody else is gonna fill that
974	01:23:51 --> 01:23:55	void. They're gonna start talking to because they want to feel a part of
975	01:23:55 --> 01:24:02	something, and really what they want is someone to say, I agree with you. Think
976	01:24:02 --> 01:24:06	about it. They want someone to say, Yeah, that's the right idea, and then
977	01:24:06 --> 01:24:08	they feel like they're accomplished. They're not taking any trades, they're
978	01:24:08 --> 01:24:11	not pushing any buttons, not even trading a demo account. But now, what do
979	01:24:11 --> 01:24:15	they feel? A sense of camaraderie, some sense of community. It gives them a
980	01:24:15 --> 01:24:20	purpose, which is the problem into the world right now, because there is a lack
981	01:24:20 --> 01:24:30	of sense of self worth. Think about it. A lot of my students that follow me on
982	01:24:30 --> 01:24:34	YouTube, a lot of them have never had a fatherly figure in their life. They've
983	01:24:34 --> 01:24:38	never had anybody believe in them. Nobody's ever encouraged them. And I'm
984	01:24:38 --> 01:24:42	doing those types of things. That's why you feel like there is this rapport
985	01:24:42 --> 01:24:48	between us. You feel like I'm talking just to you because you came with a void
986	01:24:48 --> 01:24:52	that needed to be filled, and because I have a genuine interest in all of you
987	01:24:52 --> 01:24:56	succeeding. I'm not going to pull any punches. I'm not going to sugarcoat it,
988	01:24:56 --> 01:25:01	because if you were my son or daughter, you would hear just like this. Uh, you
989	01:25:01 --> 01:25:05	will hear it just like this. I want you to know what it's going to be like. It's
990	01:25:05 --> 01:25:11	going to be hard, it's going to be taxing, it's going to be an arduous
991	01:25:11 --> 01:25:14	task. It's going to be very, very difficult to go through in the
992	01:25:14 --> 01:25:20	beginning, but it's worth it, because once you get this skill set, all you
993	01:25:20 --> 01:25:23	gotta do is wait around in the morning, in the late evening at the watering
994	01:25:23 --> 01:25:30	hole. That's the kill zones. See the master of analogies, I'm never gonna run
995	01:25:30 --> 01:25:35	short of it. This Baker never runs out of yeast. But all of these pitfalls,
996	01:25:35 --> 01:25:38	they're gonna plague you and your development in the beginning, and then
997	01:25:38 --> 01:25:43	the longer you hold on to these types of thinking and ignoring the benefits of
998	01:25:43 --> 01:25:49	listening someone that's been doing it longer and better than you like. Here we
999	01:25:49 --> 01:25:55	are. It's a Saturday, folks. I'm investing in you. I'm giving you one of
1000	01:25:55 --> 01:26:00	my secret weapons. What I'm doing when I listen to these live streamers, and they
1001	01:26:00 --> 01:26:04	like to joke, I'm here to get codes for resets. Ask Michael patak If I've ever
1002	01:26:04 --> 01:26:07	done anything with trying to get an account with them. Never, won't ever
1003	01:26:07 --> 01:26:12	happen either. I'm not there to learn how to trade. I'm not there watching
1004	01:26:12 --> 01:26:16	Patrick wheeling learn how to trade. I'm not watching trades by Matt to learn how
1005	01:26:16 --> 01:26:22	to trade. I love trades by Matt. His attitude on everything. He's chill shit.
1006	01:26:23 --> 01:26:27	He's got no drama with him. He's just just hanging out. Never have to say
1007	01:26:27 --> 01:26:33	anything bad about anybody else. And he just does whatever he does, win, lose,
1008	01:26:33 --> 01:26:37	whatever it is, what it is. He's just how you gonna hate the guy? You know? I
1009	01:26:37 --> 01:26:42	think he's I think he should listen to me too. I mean the same advice I
1010	01:26:42 --> 01:26:47	mentioned in the post I made the Pat, and I hope he he allows it to post
1011	01:26:47 --> 01:26:51	because it was encouraging and it wasn't anything to be speaking down to him. And
1012	01:26:52 --> 01:26:55	I don't want anybody to think that. You know, he's a target that should be
1013	01:26:55 --> 01:26:59	trolled, even though he talks about me a lot. It's Shop Talk, folks. I don't take
1014	01:26:59 --> 01:27:02	any of that kind of that kind of stuff, unless you talk about my family and make
1015	01:27:02 --> 01:27:06	up bullshit about me. I got no time for You're an asshole. Okay, fuck you. You
1016	01:27:06 --> 01:27:09	make up bullshit. Try to get some ad revenue. Get the fuck out of here. Join
1017	01:27:09 --> 01:27:12	the Robins cup in because I'm telling you, I'm gonna beat your fucking ass in
1018	01:27:12 --> 01:27:14	that okay, I'm gonna rip your fucking head off and shove it straight up your
1019	01:27:14 --> 01:27:20	fucking ass. But apart from that decade, I don't have any problems with anybody
1020	01:27:20 --> 01:27:23	else. I have no problems. I can take Shop Talk. A good ribbing from other
1021	01:27:23 --> 01:27:29	people. It's fun. It's fun. But when someone like Patrick comes out and says,
1022	01:27:29 --> 01:27:36	Hey, this is what I'm struggling with right now, that that right there that
1023	01:27:36 --> 01:27:42	Garner's respect, because he doesn't need to make that public. He's not, he's
1024	01:27:42 --> 01:27:47	not obligated to share that level of detail. But yet he did, and I respect
1025	01:27:47 --> 01:27:51	that. That's the kind of stuff that needs to be shown. That kind of thing
1026	01:27:51 --> 01:27:59	needs to be revealed and say, hey, look, it's not easy. It's not easy at all. And
1027	01:27:59 --> 01:28:06	I would never try to punt a person that's doing that. I would never try to
1028	01:28:06 --> 01:28:10	knock against somebody that's doing that, because they're not trying to
1029	01:28:10 --> 01:28:14	deceive you. They're telling they're just showing you, basically, I'm trying
1030	01:28:14 --> 01:28:18	my best, and this is where I'm at right now, and I'm struggling, man, that takes
1031	01:28:18 --> 01:28:24	a lot of courage. It takes a lot of respect for your audience to say, hey,
1032	01:28:24 --> 01:28:29	look, I don't want you to look at me and see this when the reality I have this,
1033	01:28:29 --> 01:28:33	because it if someone is doing the opposite of that, that's a real piece of
1034	01:28:33 --> 01:28:38	shit. That's a real piece of shit that tries to hide it, but pretends that
1035	01:28:38 --> 01:28:39	they're better than they really
1036	01:28:41 --> 01:28:46	are. This this type of video, you know, it's the most one. I think he said, I'm
1037	01:28:46 --> 01:28:50	down really bad, or something like that. It's his. It's his most, at least at the
1038	01:28:50 --> 01:28:53	time of this recording. It's Saturday, 10 o'clock in the morning, Eastern Time.
1039	01:28:55 --> 01:28:59	It's a real short video, 12 minutes, you know, like, if you're a pseudo of mine,
1040	01:28:59 --> 01:29:04	you probably run it at two times the speed, it'll take you six minutes to get
1041	01:29:04 --> 01:29:10	through it. But he he covers a lot of things that I have preached hard and
1042	01:29:10 --> 01:29:15	fast for a long, long time are going to be the very barriers that you're going
1043	01:29:15 --> 01:29:19	to have if you do what he's been trying to do. And in short, this is what I have
1044	01:29:19 --> 01:29:24	said in his live streams, communicating to him, and I've made posts directly to
1045	01:29:24 --> 01:29:30	him in his comment sections on certain videos, and I've tried to encourage him
1046	01:29:30 --> 01:29:36	to do things like what I'm talking about here today, he has a following. His
1047	01:29:36 --> 01:29:41	following would grow exponentially if he stayed on track by doing what he did
1048	01:29:41 --> 01:29:46	today or last night, showing adversities, because that allows the
1049	01:29:46 --> 01:29:50	audience members to build a rapport. Saying, You know what, I'm not the only
1050	01:29:50 --> 01:29:55	one that's struggling right now, and because he has a built in audience that
1051	01:29:55 --> 01:30:00	like him, I like him from his his showmanship. I look at him as. Is a
1052	01:30:00 --> 01:30:04	Randy, macho man, savage WWF character, you know, I don't take anything that he
1053	01:30:04 --> 01:30:10	says as serious. I don't take anything that he says about me as a attack on me.
1054	01:30:10 --> 01:30:13	It's fun. It's just, it's, it's, it's shop talk. It's literally, you're
1055	01:30:13 --> 01:30:16	talking shit. It's like anything else. If you're on a football field, you know,
1056	01:30:16 --> 01:30:20	the other players gonna talk to a bit, you know, get up. I didn't hit you that
1057	01:30:20 --> 01:30:25	hard. It's, it's just like that. I don't, I don't need any of you to defend
1058	01:30:25 --> 01:30:30	me against these people. Okay, I have no problems, none whatsoever, with it, but
1059	01:30:30 --> 01:30:37	I want to see this guy do better. And he has enough. He has enough because I see
1060	01:30:37 --> 01:30:43	an AOL America Online version of me, okay, the way he acts, the way he talks,
1061	01:30:43 --> 01:30:46	and the way he brags and shit, and doesn't really have the skill set yet to
1062	01:30:46 --> 01:30:51	be like that. That's exactly what I was doing. On America Online, I talked like
1063	01:30:51 --> 01:30:56	I had it, then I have it. Now you see it, I have it. But back then on America
1064	01:30:56 --> 01:31:02	Online, I talked like I had it and I didn't. So I see an opportunity for me
1065	01:31:02 --> 01:31:07	to say, hey, look the ICG Junior, because that's his attitude. That was
1066	01:31:07 --> 01:31:12	exactly how I behaved on America Online. If you listen to me like I'm literally,
1067	01:31:12 --> 01:31:17	I'm literally talking to my 20 year old self in him, and a lot of you don't
1068	01:31:17 --> 01:31:21	understand it like but it's a it's a project for me. It's like a piece of
1069	01:31:21 --> 01:31:25	meat between my teeth and my tongue keeps going back to I want to fix him.
1070	01:31:26 --> 01:31:30	And he's being stubborn because he doesn't want people saying, you listen
1071	01:31:30 --> 01:31:33	to ICT and he's your instructor. He's your mentor. You don't need to ever call
1072	01:31:33 --> 01:31:38	me a mentor. Just listen to good advice, that's all, and watch how it changes you
1073	01:31:39 --> 01:31:47	for the better. Stop trying to trade once you get a win. Stop. Okay, I said
1074	01:31:47 --> 01:31:50	this in my post to you that may or may not make it to your comment section.
1075	01:31:50 --> 01:31:55	Stop trying to trade with the maximum size. Stop trying to cater to your
1076	01:31:55 --> 01:32:00	students or viewers, because you still have time in a day if you get out of a
1077	01:32:00 --> 01:32:05	trade and you made money. You made 2000 3000 4000 5000 whatever you made. Stop,
1078	01:32:05 --> 01:32:10	Turn the charts off, go, get on your boat and enjoy the rest of the day. Who,
1079	01:32:10 --> 01:32:14	in their right fucking mind would say, Dude, that's failure. You're going out
1080	01:32:14 --> 01:32:18	there making a couple $1,000 and then going out and living your life and doing
1081	01:32:18 --> 01:32:21	what you want to do, and you weren't even out here for an hour. See, you're
1082	01:32:21 --> 01:32:26	you're trying to cater. You're trying to cater to people that are most likely not
1083	01:32:26 --> 01:32:29	going to do shit with whatever you're doing. They're not going to pay you for
1084	01:32:29 --> 01:32:32	your service. They're in there listening, and most of them are there to
1085	01:32:32 --> 01:32:37	listen to you. Hopefully get it wrong. That's really what's going on. That's
1086	01:32:37 --> 01:32:41	what social media is. Social media is really a bunch of cannibalizing zombies
1087	01:32:41 --> 01:32:46	that just want to see other people fall so they can laugh about it. That's all
1088	01:32:46 --> 01:32:52	it is. So why cater to the majority? That's like that, when you could answer
1089	01:32:52 --> 01:32:58	the itch that everybody else that likes you wants, they want to see you share a
1090	01:32:58 --> 01:33:02	positive experience, talk about where you think the market's gonna go, and
1091	01:33:02 --> 01:33:04	then when you execute on it, and you show that I did this with my trade, I
1092	01:33:04 --> 01:33:09	made money now I'm done. I know I have the tendency to self destruct if I stay
1093	01:33:09 --> 01:33:13	here. I know I have the tendency to go, go in and do another trade when it's not
1094	01:33:13 --> 01:33:16	obligated to you. I'm not obligated to show you trades. I'm not obligated to
1095	01:33:16 --> 01:33:19	show you another winning trade. I'm not obligated to do the afternoon session
1096	01:33:19 --> 01:33:24	when I made money now in the morning, see that's control of yourself. That's
1097	01:33:24 --> 01:33:29	managing yourself, and it's managing your audience, but you are allowing your
1098	01:33:29 --> 01:33:34	audience to manage you. If I had every request that's ever given of me, I would
1099	01:33:34 --> 01:33:37	constantly be out here performing tricks all the time, doing shit all the time. I
1100	01:33:37 --> 01:33:43	don't need to do that. I'm in control of my audience. I dictate the pace. I
1101	01:33:43 --> 01:33:49	dictate every aspect of whatever the fuck I'm gonna do. I do that which gives
1102	01:33:49 --> 01:33:55	me, ultimately, control of me as the traitor. Now a 20 year old ICT on
1103	01:33:55 --> 01:34:01	America Online, anybody that asked me do anything I was like a dancing bear in a
1104	01:34:01 --> 01:34:06	carnival or a circus like whatever was asked of me. I was trying to do it, and
1105	01:34:07 --> 01:34:12	I was never able to satisfy everyone. And which was a problem for me, because
1106	01:34:12 --> 01:34:16	I was trying to satisfy everyone, you are not going to satisfy anyone or
1107	01:34:16 --> 01:34:19	everyone, rather. And if people talk shit about you, who gives a shit they
1108	01:34:19 --> 01:34:25	talk shit about you, look at look at where you are, look at what you've
1109	01:34:25 --> 01:34:29	accomplished. You have progress, even though you're saying you have a low
1110	01:34:29 --> 01:34:32	period right now, and this is the worst your trading has been for the year.
1111	01:34:33 --> 01:34:37	Guess what? You're acknowledging it. You're talking about pumping the brakes.
1112	01:34:37 --> 01:34:42	That's exactly what you should do, exactly what you should do. If you would
1113	01:34:42 --> 01:34:45	have said, I'm going to be out there and I'm going to push even harder because
1114	01:34:45 --> 01:34:48	I'm going to get out of this, that would have been the worst fucking thing to
1115	01:34:48 --> 01:34:53	say. That's what I was afraid you were going to say, but I was listening to you
1116	01:34:53 --> 01:34:58	and like, good. That's the right mindset. Dial it back. Cut short your
1117	01:34:58 --> 01:35:03	frequency of trading. Then take some time off. It's the holidays, folks. It
1118	01:35:03 --> 01:35:08	is the holidays. You want to make your holiday suck, try to make money, lose
1119	01:35:08 --> 01:35:13	it, and then wake up Christmas morning, you might see your children smile and be
1120	01:35:13 --> 01:35:17	bright. Oh, I'm opening presents and gifts. It's such a joyful time to be
1121	01:35:17 --> 01:35:21	together, having meals and being with your family. But you remember you blew
1122	01:35:21 --> 01:35:25	your fucking account yesterday, on Friday before whatever it's gonna it's
1123	01:35:25 --> 01:35:29	gonna put a big damper on all your holiday spirit, and you'll be faking it
1124	01:35:29 --> 01:35:32	in the presence of your family members, because you're tore up, because you lost
1125	01:35:32 --> 01:35:37	something that could easily be fixed when you restart it again, whatever
1126	01:35:37 --> 01:35:42	amount of money you've lost ever all of that is easily recouped with interest,
1127	01:35:42 --> 01:35:48	if you know what you're doing, but in your mind, you think that I blew my
1128	01:35:48 --> 01:35:51	account. I spent this much money on funded account challenges. I blew this
1129	01:35:51 --> 01:35:54	much money putting it in real accounts. I've done this, I've done that, I've
1130	01:35:54 --> 01:36:00	done this, I've done that. All of it. Add it all up. There's no money that
1131	01:36:00 --> 01:36:06	you've spent that can't be made in the future. See, you've allowed those things
1132	01:36:06 --> 01:36:10	to beat you down and make you second guess that anybody can be profitable,
1133	01:36:10 --> 01:36:14	that you can't be profitable, and you think that you have failed enough times
1134	01:36:14 --> 01:36:16	to it's solidified in your mind that you're a failure, so therefore I
1135	01:36:16 --> 01:36:20	shouldn't even try, but you just want to listen to other people, because you
1136	01:36:20 --> 01:36:24	can't let go of it. That means you're a trader, folks, that means you're a
1137	01:36:24 --> 01:36:28	trader. It just means you didn't listen to good advice, you didn't practice like
1138	01:36:28 --> 01:36:30	you should have, you didn't study like you should have, you didn't journal and
1139	01:36:31 --> 01:36:35	you didn't give yourself a real chance. You rushed into it, just like I did when
1140	01:36:35 --> 01:36:39	I first started. I've rushed into it after four fucking weeks of just reading
1141	01:36:39 --> 01:36:42	a book, I thought I knew how to trade, and I went out there and I lost 50% of
1142	01:36:42 --> 01:36:48	my money. My money overnight the first trade that's who's talking to you, the
1143	01:36:48 --> 01:36:52	same guy that you watched literally light it all up this week in a condition
1144	01:36:52 --> 01:36:57	in the market environment that I don't generally trade in, and I'm doing it
1145	01:36:57 --> 01:37:03	with a demo because I'm teaching period. I'm not licensed to give you trade
1146	01:37:03 --> 01:37:06	advice. I'm not going to open myself up to liability, and I don't give a shit.
1147	01:37:06 --> 01:37:10	How many times people talk about in a comment section? Oh, it's demo. Okay,
1148	01:37:10 --> 01:37:15	you do it in demo. You're going to watch me do it in a real Robin's cup next
1149	01:37:15 --> 01:37:22	year. What are you going to say then? Stupid thoughts. So hopefully you guys
1150	01:37:22 --> 01:37:25	have done some personal inventory with this discussion. This morning, I've
1151	01:37:25 --> 01:37:28	talked a little bit longer than I was supposed to, but that's usually what
1152	01:37:28 --> 01:37:32	happens around here in that over deliver, but I'm not going to charge you
1153	01:37:32 --> 01:37:37	anything more, but the pitfalls and plagues that I covered here, I really
1154	01:37:37 --> 01:37:41	want you to think about them, because I see a lot of it happening on social
1155	01:37:41 --> 01:37:46	media, a lot of it happening now on Twitter. They're all rushing in to try
1156	01:37:46 --> 01:37:50	to fill a void, and there's going to be a whole new supply of people. They're
1157	01:37:50 --> 01:37:56	going to be wanting to chase whatever lead dog barks loudest. And I'm not
1158	01:37:56 --> 01:38:01	saying that anybody that doesn't come up that they shouldn't be listened to. I'm
1159	01:38:01 --> 01:38:08	just saying Think, think, are you really seeing everything? Do you know these
1160	01:38:08 --> 01:38:11	people? Do you know that they can trade? Do you know that they have something
1161	01:38:11 --> 01:38:19	that works? Do you have, do you have the funds to pay them for what they're going
1162	01:38:19 --> 01:38:23	to ask you to pay them for? Because really, there's that that is a big thing
1163	01:38:23 --> 01:38:32	right now, and the the new movement is starting funding companies. I am not
1164	01:38:32 --> 01:38:35	associated with any funded account company. I would never be associated
1165	01:38:35 --> 01:38:38	with any funded account company, but it's
1166	01:38:40 --> 01:38:44	equivalent to running a brokerage firm that's fake, where, when you have
1167	01:38:44 --> 01:38:49	clients that deposit real money, and when they lose and they've only been
1168	01:38:49 --> 01:38:53	really given a demo account, really that operating under the guise of a demo,
1169	01:38:53 --> 01:38:58	when they lose money, the person that set up that shell company, they're just
1170	01:38:58 --> 01:39:01	taking that person's losses. That's how they're affording their land, or
1171	01:39:01 --> 01:39:06	Ferraris and bullshit, because they're not making money trading. But there's a
1172	01:39:06 --> 01:39:11	big window of opportunity for that type of business, and there's millions
1173	01:39:11 --> 01:39:17	available to that. I would never, ever set foot in that type of thing. I would
1174	01:39:17 --> 01:39:22	never be associated with any of that. And just look around and you're going to
1175	01:39:22 --> 01:39:26	see a whole lot more of that type of stuff. I'm not saying every person that
1176	01:39:26 --> 01:39:34	or individuals that do it are shady or that they're not, you know, trying to do
1177	01:39:34 --> 01:39:39	what's right. I'm just saying Just be careful, because that's the biggest
1178	01:39:39 --> 01:39:43	thing right now I see the trend shifting to, well, I really don't have to trade,
1179	01:39:43 --> 01:39:46	because now, if I start a funded company, the chances of someone being
1180	01:39:46 --> 01:39:52	successful in trading is is very limited. And while you may get the
1181	01:39:52 --> 01:39:56	individual outlier come out once in a while that does real well that to be
1182	01:39:56 --> 01:40:00	paid out the majority of individuals that come in and they're. Paying for
1183	01:40:00 --> 01:40:03	challenges, and they're failing, and failing that revenue that's constantly
1184	01:40:03 --> 01:40:09	coming in that will offset the few people that will ever join that company
1185	01:40:09 --> 01:40:14	to get paid out. And the flavor is also, you know, if there's someone extremely,
1186	01:40:14 --> 01:40:20	wildly profitable, this was one of my concerns, you know, do I have students
1187	01:40:20 --> 01:40:25	that eventually get banned because they're just beating them up, and I
1188	01:40:25 --> 01:40:30	don't know, I haven't had anybody come forward and say, Yeah, ICT, this is what
1189	01:40:30 --> 01:40:34	this and that's my interest, though, like I'm interested to see, because
1190	01:40:34 --> 01:40:38	there's a lot of you that listen to me. A lot of you trade with my concepts, and
1191	01:40:38 --> 01:40:43	a lot of you do, well, would there ever be a situation where there's so many
1192	01:40:43 --> 01:40:47	people coming in, like, that was that, like, I said, like, the question I would
1193	01:40:47 --> 01:40:55	ask if I was sitting down with all of the prop firm owners say, like, what
1194	01:40:55 --> 01:41:01	happens when there's a lot of winners and your model really is based on the
1195	01:41:01 --> 01:41:07	income stream that comes in, by way of the challenges being paid, paid for in
1196	01:41:07 --> 01:41:11	that revenue that comes in, they use that as their operating and I might be
1197	01:41:11 --> 01:41:17	wrong, but my understanding is that's what they do. But even if you have a
1198	01:41:17 --> 01:41:21	really good like, say, I went in there and I did a prop firm challenge, and
1199	01:41:21 --> 01:41:25	then they gave me a funded account, and I ran that up to millions of dollars
1200	01:41:27 --> 01:41:34	that still wouldn't be enough to pay out on just, I mean, that's, in my opinion,
1201	01:41:34 --> 01:41:39	I don't know, I've very limited understanding about it, but I see A meal
1202	01:41:39 --> 01:41:46	ticket that could be easily tapped into, and just sit back and watch over the
1203	01:41:46 --> 01:41:53	next six to 12 months, how many new prop firms creep up by social media traders.
1204	01:41:54 --> 01:41:57	That's all I'm saying. Okay? Because it's another way of fleecing
1205	01:41:57 --> 01:42:01	individuals. Because if you put money in into it okay, and you're pouring money
1206	01:42:01 --> 01:42:04	into challenges and challenges and challenges like when you have a fake
1207	01:42:04 --> 01:42:11	brokerage firm and they they put money into it, if you lose, naturally, you
1208	01:42:11 --> 01:42:15	thought you lost the money. But in reality, that money was never placed in
1209	01:42:15 --> 01:42:20	the marketplace. It was just worked with the premise of it, like a demo account.
1210	01:42:21 --> 01:42:25	If you win, okay, chances of you asking for a withdrawal is next mill, because
1211	01:42:25 --> 01:42:30	everybody wants to run it up big. So when you lose, you think, well, I lost
1212	01:42:30 --> 01:42:33	it. So that person that runs that fake brokerage account, they're just taking
1213	01:42:33 --> 01:42:38	that money and depositing in their bank account and paying for their Ferraris
1214	01:42:38 --> 01:42:43	and paying for their bullshit Rolex. Okay, all that's garbage. That's trash.
1215	01:42:43 --> 01:42:47	Okay? I would feel like a piece of shit if I ever did anything like that. I
1216	01:42:47 --> 01:42:51	would never even think to do things like that. But I'm not saying all prop firms
1217	01:42:51 --> 01:42:55	are like that, and I'm not saying all brokerage firms are like that, but
1218	01:42:55 --> 01:42:59	there's, there's a level of shadiness that certain individuals on social media
1219	01:42:59 --> 01:43:05	that they they're putting their hands in everything, and when they won't come out
1220	01:43:05 --> 01:43:10	of their empty for that's a problem, because if you're not a trade and you're
1221	01:43:10 --> 01:43:15	making money and you're a millionaire, okay, you'll be able to do that in
1222	01:43:15 --> 01:43:19	another brokerage account. You know, I've shown profitability and checking
1223	01:43:19 --> 01:43:24	trades with AMP global futures. That's a real regulated broker in the United
1224	01:43:24 --> 01:43:28	States. I traded with Thinkorswim. I literally have it on this YouTube
1225	01:43:28 --> 01:43:32	channel, and you can see me log into the account, and I doubled the account in
1226	01:43:32 --> 01:43:37	like five weeks using one contract. So that's not even trying. That was me
1227	01:43:37 --> 01:43:40	answering a lot of questions from students. What would you do if you got
1228	01:43:40 --> 01:43:43	drawdown here, and how would you fix this? I literally put the account in
1229	01:43:43 --> 01:43:48	drawdown and showed me coming out of it too. I went into 30% drawdown in one day
1230	01:43:48 --> 01:43:52	and came right back out of it in the same day. Like these are all questions
1231	01:43:52 --> 01:43:56	that students that paid me where I am obligated to answer their questions. I'm
1232	01:43:56 --> 01:44:00	obligated to answer everybody that makes comments questions, and I personally, I
1233	01:44:00 --> 01:44:04	can't answer every single question that gets made to me. I have so many videos,
1234	01:44:04 --> 01:44:08	and there's always new comments being left on them, and also people emailing
1235	01:44:08 --> 01:44:12	me that I can't get to because the email queue is so long. I can't I can't cater
1236	01:44:12 --> 01:44:17	to everybody, and I know some of times that it makes you feel like I'm ignoring
1237	01:44:17 --> 01:44:21	you, or you don't matter enough. Even some of my paid students feel this way,
1238	01:44:21 --> 01:44:27	because there's so many of you now. So it's one thing I wish I could do. I wish
1239	01:44:27 --> 01:44:33	I could be more accessible. I guess, the way it was when I was on baby pits,
1240	01:44:33 --> 01:44:36	where anybody that would ever ask anything, it was right then and there.
1241	01:44:37 --> 01:44:40	When we were on baby pips, I would go into the chat room and we would shut it
1242	01:44:40 --> 01:44:44	down. Basically, the chat window or chat room would stop working. There were so
1243	01:44:44 --> 01:44:48	many people that would come in because I wanted to answer questions, I wanted to
1244	01:44:48 --> 01:44:51	have an interaction. I want you to I want you to learn. But now, because the
1245	01:44:51 --> 01:44:56	audience size being what it is, it's impractical for any of you to expect me
1246	01:44:56 --> 01:45:01	to have a one on one type response into the guy that sent me the. Please, let me
1247	01:45:01 --> 01:45:06	be trained by you. I'll pay you $5,000 I'm not I'm not looking to get paid, and
1248	01:45:06 --> 01:45:16	I'm not doing one on ones. So my time is being given to you charitably because I
1249	01:45:16 --> 01:45:22	want you to do well. There's no, there's no currency exchange there. The way you
1250	01:45:22 --> 01:45:28	pay me back is, listen, follow the instructions, get your success, and then
1251	01:45:28 --> 01:45:35	tell me what you do that's all, that's all is it's all I want. Okay? And if you
1252	01:45:35 --> 01:45:40	use my concepts, you just give me a nod. So that way everybody knows that it's a
1253	01:45:40 --> 01:45:44	gift from God. Now I'm not saying, I'm God. I'm saying but it's that's where it
1254	01:45:44 --> 01:45:52	all came from. I want him to receive all the glory, not me. I want him. And when
1255	01:45:52 --> 01:45:56	I talk to you like I do today, it's intended for you to understand that you
1256	01:45:56 --> 01:46:00	will feel like you're the exception, that all these things are happening to
1257	01:46:00 --> 01:46:04	you that's holding you back. Everybody went through it, and you're going to
1258	01:46:04 --> 01:46:10	feel impulsive about making decisions to try to do what's unnecessary. If you
1259	01:46:10 --> 01:46:18	made $500 a day, is that failure? Because I'm going to tell you, it's not,
1260	01:46:19 --> 01:46:24	if you made $100 a day is that failure? It's not. But in your mind, you think
1261	01:46:24 --> 01:46:29	it's not success. You got to make a lot of money. No, you don't. Who said that
1262	01:46:29 --> 01:46:35	you did? Nobody came to you and said, unless you make this much money, you
1263	01:46:35 --> 01:46:39	aren't successful. And if anybody ever said that, that's somebody you don't
1264	01:46:39 --> 01:46:46	listen to, just disconnect from them, because impractical, unrealistic for you
1265	01:46:46 --> 01:46:51	to walk out there your very first time at that thinking that you're going to
1266	01:46:51 --> 01:46:55	start taking down these massive halls, these big windfall victories, which I
1267	01:46:55 --> 01:47:00	have no I have no respect for those. I don't give a shit. How much money you
1268	01:47:00 --> 01:47:05	withdraw on your first time. Can you do that the following month and the
1269	01:47:05 --> 01:47:08	following month in the following month and the following month? Because chances
1270	01:47:08 --> 01:47:13	are it's not going to happen like that. So like I said to Patrick in my comment,
1271	01:47:13 --> 01:47:17	I said, whenever you talk about your biggest win, you need to take that out
1272	01:47:17 --> 01:47:22	and throw it away your biggest losing trade, take that out also. What are you
1273	01:47:22 --> 01:47:27	left with? Because that's your real stats. That's your real meat on the bone
1274	01:47:27 --> 01:47:32	in the middle. That's what matters most. Your best, best, best trade is always
1275	01:47:32 --> 01:47:35	going to be the one that you over leveraged, and you were swinging for the
1276	01:47:35 --> 01:47:38	fences, and it was a gamble. So you can't even attribute that as your skill.
1277	01:47:39 --> 01:47:44	That's just that was a lottery win and the losing maximum loss day is the same
1278	01:47:44 --> 01:47:48	thing you held for that same expectation, but it went against you.
1279	01:47:48 --> 01:47:52	You weren't trading with your model, your biggest maximum loss. That's not
1280	01:47:52 --> 01:47:58	you trading responsibly so on both in both extremes, you need to take those
1281	01:47:58 --> 01:48:03	away. Now learn that from Larry Williams. So when you're looking at
1282	01:48:03 --> 01:48:07	systems and numbers, take your best number out. But he didn't say, take the
1283	01:48:07 --> 01:48:11	take the worst one out. He always said, take the best one out. I say both
1284	01:48:12 --> 01:48:17	because that's illustrating a lack of you not following your model, and what's
1285	01:48:17 --> 01:48:22	left is the clearest depiction of you when you are engaging your model within
1286	01:48:22 --> 01:48:27	the realm of your ability to stick within it. That's the results in the
1287	01:48:27 --> 01:48:33	data you have the show it. If that means that your average profitability on per
1288	01:48:33 --> 01:48:37	trade is less than $1,000 then that's what it is
1289	01:48:39 --> 01:48:44	that's not shameful, because if you're consistently doing that, as your equity
1290	01:48:44 --> 01:48:49	grows, you let money management do the heavy lifting when it's appropriate to
1291	01:48:49 --> 01:48:54	add to it. And like I told Matt, trades by Matt, I told Patrick wheel the same
1292	01:48:54 --> 01:48:59	thing I tell my students the same thing. You let your equity dictate how and when
1293	01:48:59 --> 01:49:04	you add more contracts when you've watched me run up accounts in Mt four,
1294	01:49:04 --> 01:49:09	and watch me run them up in trading view, and you watch me run them up in
1295	01:49:09 --> 01:49:16	the ThinkOrSwim, and you watch me run them up in amp. Those principles are or
1296	01:49:16 --> 01:49:21	what I was employing, not to those parameters, but I was allowing when I
1297	01:49:21 --> 01:49:27	made money that afforded me to trade with more contracts. When I lost money,
1298	01:49:27 --> 01:49:32	then I traded with less margin, less contracts, until I made 50% of that loss
1299	01:49:32 --> 01:49:36	back then I would bump right back up to whatever the leverage was that I made
1300	01:49:36 --> 01:49:42	prior to taking the losing trade. Now, if I'm in a trade intraday, and I take a
1301	01:49:42 --> 01:49:47	loss, and it may be less than what I'm allowing for for the trades onwards,
1302	01:49:47 --> 01:49:51	let's just say I'm risking three and a half percent. I'm not saying that you
1303	01:49:51 --> 01:49:54	should trade with three and a half percent risk, but let's say that's what
1304	01:49:54 --> 01:50:01	it was I get stopped out in the loss equates to 1.7% 1.9% okay? Okay, I'll
1305	01:50:01 --> 01:50:04	put the same amount of leverage back on because I didn't take a full three and a
1306	01:50:04 --> 01:50:08	half percent loss. So that's my marker that says, Okay, if it gets below that,
1307	01:50:08 --> 01:50:14	then I have to make a cut in the leverage. So I may take a smaller loss
1308	01:50:15 --> 01:50:21	that is less than what I would take as a full risk for that day. If I hit that
1309	01:50:21 --> 01:50:26	threshold, then if I take another trade, it has to be with less margin. See
1310	01:50:26 --> 01:50:29	someone you don't look like, look at trading like that. You're like, okay, I
1311	01:50:29 --> 01:50:33	can still afford to trade 15 contracts, so I'm going to take the next trade with
1312	01:50:33 --> 01:50:36	15 contracts. You're assuring that you're going to fail. You're
1313	01:50:36 --> 01:50:40	guaranteeing it, you're ushering it along, you're inviting it, you're laying
1314	01:50:40 --> 01:50:46	it out there with a red carpet. Blow my account out. You're not trading with
1315	01:50:46 --> 01:50:56	enough movement afforded to you by trading with that large leverage. So if
1316	01:50:56 --> 01:51:05	you just traded with one contract, okay, one, just one contract. I made 100% plus
1317	01:51:05 --> 01:51:10	percent in five weeks, trading with Thinkorswim, doing one contract, trading
1318	01:51:10 --> 01:51:17	on NASDAQ. Go look at it. It's on there, real money. And I set that up as a
1319	01:51:18 --> 01:51:22	realistic expectation for you. I think that that's realistic for a new student
1320	01:51:22 --> 01:51:28	first year. I think that's realistic. Not make 100% in one month, but for the
1321	01:51:28 --> 01:51:32	sake of if you were pick and choose in one trade per week, you take those
1322	01:51:32 --> 01:51:37	examples in mind you can make 100% in a year. And some of you are like, well,
1323	01:51:37 --> 01:51:42	that's not enough. Where are you going to be in 10 years from now, will you
1324	01:51:42 --> 01:51:46	have a million dollars working your job? You won't, but if you start with $1,000
1325	01:51:48 --> 01:51:53	and after taxes, you net 100% return, you got over a million dollars in 10
1326	01:51:55 --> 01:52:00	years. And that's a very, very slow paced, snail's crawl approach to
1327	01:52:00 --> 01:52:04	fortifying 10 years you have a million dollars now, a million dollars isn't
1328	01:52:04 --> 01:52:08	shit anymore today, but that's just an example that I started with. When I was
1329	01:52:08 --> 01:52:11	on baby pips. I was saying, Look, you guys look at money differently than I
1330	01:52:11 --> 01:52:19	do. I look at how I can take a little bit and make a lot over time, over time.
1331	01:52:20 --> 01:52:23	So when you sit down and you say to yourself, I'm going to learn how to
1332	01:52:23 --> 01:52:28	trade. I'm going to be successful at this. Okay, you all have a timeline that
1333	01:52:28 --> 01:52:35	you're going to be profitable by. That's a mistake. That's a mistake. You're
1334	01:52:35 --> 01:52:38	tying. You're trying to time your success. You're trying to time it like
1335	01:52:38 --> 01:52:41	it's the graduation when you go to college. Well, if I go through the
1336	01:52:41 --> 01:52:46	curriculum and I show up every year, I do all your semesters, spring, summer,
1337	01:52:46 --> 01:52:51	fall, winter, then I would have all my credits by this time, and then I'll
1338	01:52:51 --> 01:52:56	graduate this year. That's not how trading works. I know that's what you
1339	01:52:56 --> 01:53:03	want it to be like, but it's not. Some of you go in and you subscribe to the
1340	01:53:03 --> 01:53:09	idea it might take you a year and a half to get there, and you get into content
1341	01:53:09 --> 01:53:13	like I have, and listen to the good logic like this discussion today, where
1342	01:53:13 --> 01:53:17	it helps you calibrate your mindset and filter all the bullshit acknowledge the
1343	01:53:17 --> 01:53:21	things that you're feeling is real. It's you're not the exception, but there's a
1344	01:53:21 --> 01:53:26	way of going through it properly and staying on course. Don't let short term
1345	01:53:26 --> 01:53:31	adversities deviate your course of action, and then you make the learning
1346	01:53:31 --> 01:53:35	curve longer than it needs to be, because that's what really happens. I
1347	01:53:35 --> 01:53:38	made it longer for myself because I was trying to tinker with something that was
1348	01:53:38 --> 01:53:42	working, and I kept trying to make it better when it was already the best it
1349	01:53:42 --> 01:53:47	can be. I mean, look at my entries, the strategies I use for entering a trade.
1350	01:53:48 --> 01:53:53	Like I'm literally buying lows. I'm buying the middle of fair value gaps.
1351	01:53:53 --> 01:53:58	That's the low points. How can anybody argue against that? There was a comment
1352	01:53:58 --> 01:54:04	that was left by a guy. He said, Oh, come on, man, they make it believable,
1353	01:54:04 --> 01:54:08	like your every day being perfect with this. Thank you. Thank you for the
1354	01:54:08 --> 01:54:11	comment. I mean, apparently you didn't notice me getting stopped out a few
1355	01:54:11 --> 01:54:16	times. But I take that as a compliment. But that's not what he meant it as. When
1356	01:54:16 --> 01:54:20	your results are so good, other people can't acknowledge it or believe that
1357	01:54:20 --> 01:54:25	they're even real, that's the highest form of compliment. I don't look at that
1358	01:54:25 --> 01:54:30	and think, oh, he thinks I'm a fraud. He might think that I see him seeing my
1359	01:54:30 --> 01:54:36	results and my executions that are absolutely real, saying it's too good to
1360	01:54:36 --> 01:54:43	be true. That is the greatest compliment anybody could give to a trader, if your
1361	01:54:43 --> 01:54:47	results look too good to be true, then yet you keep proving it. That's
1362	01:54:47 --> 01:54:52	delicious. But it wasn't like that when I first started. It was a fucking train
1363	01:54:52 --> 01:54:55	wreck, and the train just kept backing up and rolling back over. Taught me
1364	01:54:55 --> 01:54:59	backing rolling back over top, and I felt like it was never going to end.
1365	01:54:59 --> 01:55:02	You. And I didn't have what I'm trying to provide for you as a source of
1366	01:55:02 --> 01:55:06	encouragement. Keep sticking to it. Okay, just keep sticking to it. You
1367	01:55:06 --> 01:55:10	don't need to come back to my YouTube channel. You don't need to contribute to
1368	01:55:10 --> 01:55:14	the ad revenue fund, okay? You don't need to do that. You already have the
1369	01:55:14 --> 01:55:20	videos downloaded. You know, you do. Just study them. Stick to it. Don't fall
1370	01:55:20 --> 01:55:25	away and think that it's not for you, because it is for you, but you're just
1371	01:55:25 --> 01:55:29	trying to do things that are not conducive for you to get the results,
1372	01:55:29 --> 01:55:32	because you cannot time your schedule. You can't schedule and time your
1373	01:55:32 --> 01:55:36	success. It's going to arrive right on time. It's going to make perfect sense
1374	01:55:36 --> 01:55:41	why it arrived when it does. And you're going to see how you not me, not anyone
1375	01:55:41 --> 01:55:47	else, not other things and other factors hindered you. You did, and it'll make
1376	01:55:47 --> 01:55:52	perfect sense, what you did that prolonged everything. Every single one
1377	01:55:52 --> 01:55:57	of my profitable students had the same epiphany that happens. They made it
1378	01:55:57 --> 01:56:02	harder themselves. Usually it's the conversations like this that triggers
1379	01:56:02 --> 01:56:07	them and says, You know what I am doing, those types of things. Let me try not
1380	01:56:07 --> 01:56:14	doing those things, and just listen. And all of a sudden, the curtain parts, and
1381	01:56:14 --> 01:56:18	they see the show for what it really is. They can see where the market's going to
1382	01:56:18 --> 01:56:22	go, and they can see their model is, in fact, there all the time, and then they
1383	01:56:22 --> 01:56:25	build the confidence of going in and engaging with it, and when they get the
1384	01:56:25 --> 01:56:29	result of being in it and getting out with a profitable move, they don't go
1385	01:56:29 --> 01:56:33	back in because they didn't feel good enough that that wasn't a good enough
1386	01:56:33 --> 01:56:38	move. I didn't make enough money. I could have made more. So what you could
1387	01:56:38 --> 01:56:42	have made even more money if you would have bought and sold every high and low
1388	01:56:42 --> 01:56:46	on an hourly chart from Sunday's opening to Friday's close, how much money did
1389	01:56:46 --> 01:56:51	you leave on the table? Folks, you're always leaving money on the table. It's
1390	01:56:51 --> 01:56:57	not realistic to think that way, but yet it's being posed as an argument in the
1391	01:56:57 --> 01:57:00	comment sections of my videos other people, from people that are working at
1392	01:57:00 --> 01:57:04	fucking Jiffy Lube on Monday, they're probably working right now listening to
1393	01:57:04 --> 01:57:06	this, hating my guts, because I've mentioned the fact that they're doing
1394	01:57:06 --> 01:57:10	Grease Monkey jaws and ain't trading. They can't trade, but they're very
1395	01:57:10 --> 01:57:16	opinionated in other people's stuff. You're a clown. You're a source of humor
1396	01:57:16 --> 01:57:21	for people that know how to do it, but for some of you that are very, very
1397	01:57:23 --> 01:57:32	impressionable. You let the impressions of other people make a huge alteration
1398	01:57:32 --> 01:57:35	to the course of action that you're trying to start with in this industry,
1399	01:57:36 --> 01:57:43	when 90% of this war in trading is in your head, it's a psychological battle.
1400	01:57:44 --> 01:57:47	You're battling it with yourself. And then once you get in the marketplace,
1401	01:57:47 --> 01:57:54	then you're you're on Wrestling market, and that's hard. It's real hard. If you
1402	01:57:54 --> 01:57:57	don't know what you're doing, and you're brand new, you have no experience.
1403	01:57:57 --> 01:58:00	You've never been here before. Every little, tiny fluctuation, one tick
1404	01:58:01 --> 01:58:04	against your entry feels like the beginning of a run on your stop. And
1405	01:58:04 --> 01:58:11	that's not what it's like when you're thinking like I'm teaching you, I trust
1406	01:58:11 --> 01:58:16	my model. If it goes to my stop, I place my stop incorrectly, and I'm okay with
1407	01:58:16 --> 01:58:19	that. I know the likelihood of my next trade is going to be just as well as the
1408	01:58:19 --> 01:58:25	one I just entered. It's not diminishing. The efficacy of my models
1409	01:58:25 --> 01:58:32	are not diminishing. They're constant. Your appreciation for those models and
1410	01:58:32 --> 01:58:36	approaches are on the upslope. You're at the beginning of your journey. And I
1411	01:58:36 --> 01:58:37	envy all of you.
1412	01:58:39 --> 01:58:44	I envy all of you, I miss those moments of astonishment where I would see
1413	01:58:44 --> 01:58:48	something and I'm like, Okay, this is what it should do, and let's see what
1414	01:58:48 --> 01:58:52	happens. And it delivers perfectly to the tick. And then you're looking around
1415	01:58:52 --> 01:58:58	the room like, am I supposed to know this? Like you're expecting the black
1416	01:58:58 --> 01:59:01	suits to show up in front of your house, a helicopter landing in your backyard,
1417	01:59:01 --> 01:59:08	like you're coming with us. You know, those moments of astonishment are
1418	01:59:08 --> 01:59:13	amazing, those epiphanies, those those moments where the veil is lifted and you
1419	01:59:13 --> 01:59:20	see the market as it really is in binary form. You know, Neo finally understands
1420	01:59:20 --> 01:59:24	who he is and where he's at. He doesn't see the people in front of him throwing
1421	01:59:24 --> 01:59:29	punches. It's just zeros and ones, and all he has to do is this is what his
1422	01:59:30 --> 01:59:32	response is going to be, and he knows what they're going to do before they do
1423	01:59:32 --> 01:59:40	it. That's a macro that's a macro manual intervention. When you see the black cat
1424	01:59:40 --> 01:59:45	glitch, and it's deja vu. Okay, there's so many similarities and analogies that
1425	01:59:45 --> 01:59:50	could be made with that movie, because we do live in a simulation. Everything
1426	01:59:50 --> 01:59:56	that's around us is pre, pre programmed and and scripted. And I could go a long
1427	01:59:56 --> 01:59:58	direction, off course with this, and probably get myself in trouble on
1428	01:59:58 --> 02:00:03	YouTube, but we're gonna we're. I leave that for another day in another medium.
1429	02:00:03 --> 02:00:13	But the idea is, in closing, you need to guard your mind. You need to do the very
1430	02:00:13 --> 02:00:18	least in the beginning, because if you can't get experience or growth or
1431	02:00:18 --> 02:00:26	progress measured in any capacity, with the least amount of exposure to risk. It
1432	02:00:26 --> 02:00:30	matters not how much more risk you can accumulate. What's the difference is, is
1433	02:00:30 --> 02:00:36	if you have 15 contracts on, or if you have one micro lot on, if you're wrong
1434	02:00:36 --> 02:00:39	about what you're trying to do in the marketplace, the market's going to show
1435	02:00:39 --> 02:00:46	you do you need the maximum pain, the mask, the maximum expense, the maximum
1436	02:00:46 --> 02:00:50	discomfort, for you to appreciate that you're not following the model
1437	02:00:50 --> 02:00:56	correctly. Because some of you, you're full of shit when you say, I got to
1438	02:00:56 --> 02:00:59	learn how to trade with real money. That's the only way I can learn how to
1439	02:00:59 --> 02:01:04	trade. No what you're doing is you're saying that I'm a fucking idiot. Please
1440	02:01:04 --> 02:01:08	beat me over the head with a stupid stick, because I don't know enough to
1441	02:01:08 --> 02:01:12	know that I can do this without any harm to myself, without any financial risk,
1442	02:01:12 --> 02:01:15	without any kind of hardships that's going to cause me to second guess my own
1443	02:01:15 --> 02:01:20	ability because of the fear of being wrong associated with money. That's the
1444	02:01:20 --> 02:01:24	reality books aren't going to teach you that way. Mentors aren't going to teach
1445	02:01:24 --> 02:01:32	you that way. It's sugar free as it should be. You want it to taste sweet
1446	02:01:32 --> 02:01:38	like honey, and sugar is a disease causer. The more you can cut sugar out
1447	02:01:38 --> 02:01:43	of your diet, the best you're going to have in terms of health, the same way
1448	02:01:43 --> 02:01:48	with trading you want meat and potatoes, baby meat and fucking potatoes. That's
1449	02:01:48 --> 02:01:55	it, because whatever you can do with the least, if you have a measurable outcome
1450	02:01:55 --> 02:01:59	that is more times than not delivered to you based on a model that you're working
1451	02:01:59 --> 02:02:04	with, when you do that same procedure over and over again, just like a cookie
1452	02:02:04 --> 02:02:08	cutter, you take it and you press it into the dough. Are you expecting a star
1453	02:02:08 --> 02:02:14	shaped cookie dough cutter to give you a shape of a circle or a square? No, it's
1454	02:02:14 --> 02:02:18	designed to do one thing. You press it into the dough, you lift it up. There
1455	02:02:18 --> 02:02:23	you have a piece of dough that's cut out in the form of a star. Wonderful. Are
1456	02:02:23 --> 02:02:28	you trying to do something else outside of that? No, your job is to find another
1457	02:02:28 --> 02:02:33	place where you can find a dough, which is a trade setup, and you can press your
1458	02:02:33 --> 02:02:37	cookie cutter, which is your mold or your model, rather, press it into that
1459	02:02:37 --> 02:02:42	dough and pull it out, and you take home that star shaped, or whatever the shape
1460	02:02:42 --> 02:02:45	of that cookie cutter is, whatever your model is, if it's the optimal trade
1461	02:02:45 --> 02:02:52	entry, if it's the silver bullet, if it's you anything else, that's all
1462	02:02:52 --> 02:02:58	you're there to do, and demanding it does anything more than that is
1463	02:02:58 --> 02:03:03	foolishness. The results that you get from the least amount of leverage from
1464	02:03:03 --> 02:03:09	that is irrelevant in the beginning, because you have to get to the point
1465	02:03:09 --> 02:03:12	where you can replicate that over and over and over again, more times than
1466	02:03:12 --> 02:03:17	not, over the course of a month, over course of a week, and taking that sample
1467	02:03:17 --> 02:03:22	set and saying, Okay, I have done This for a week, and this is the many
1468	02:03:22 --> 02:03:25	transactions I've taken. This is how many that were profitable. This is how
1469	02:03:25 --> 02:03:30	many times that were not profitable. This is how much I was able to yield as
1470	02:03:30 --> 02:03:37	a net return. Over time, it'll become easier to do it. That's the goal. And
1471	02:03:37 --> 02:03:44	you want it to be boring, you know, you know, on Wednesday morning of next week,
1472	02:03:44 --> 02:03:47	you're going to go out there and you're going to find 10 handles in s, p, you
1473	02:03:47 --> 02:03:52	know you're going to find 30 handles in the NASDAQ. I know that. I absolutely
1474	02:03:52 --> 02:03:55	fucking know I'm going to do that. I know I'm going to be able to do that. I
1475	02:03:55 --> 02:04:00	can do that. I know tonight, when I lay my head down, that my my thought is not
1476	02:04:00 --> 02:04:03	going to be swirling around. Am I going to be able to trade next week? Am I
1477	02:04:03 --> 02:04:07	going to be able to pull anything off? Am I going to be able to find a setup?
1478	02:04:07 --> 02:04:13	It's a given. It's absolutely given. I'm not worried about that. That is
1479	02:04:13 --> 02:04:19	confidence that you cannot depreciate until you have it. And most traders
1480	02:04:19 --> 02:04:23	don't have it, even if they are profitable there, they still say to the
1481	02:04:23 --> 02:04:28	markets, random, it is random. If you're believing the bullshit you're trying to
1482	02:04:28 --> 02:04:31	trade off of all these things that you're subscribing to as a religion.
1483	02:04:33 --> 02:04:37	Elliot, wave white, cough, it's this. It's jumping the creek. It's this, you
1484	02:04:37 --> 02:04:43	know, this wave count. Man, if I had to trade like that, I would not be able to
1485	02:04:43 --> 02:04:48	sleep at night. That's too many variables, too many variables where I'm
1486	02:04:48 --> 02:04:52	trading on constant. I know where the liquidity is. I know where the
1487	02:04:52 --> 02:04:56	inefficiencies are. I know what the economic counter is going to produce a
1488	02:04:56 --> 02:05:03	injection of volatility at a specific date and time. You. I'm not I'm not
1489	02:05:03 --> 02:05:08	clueless, I'm not confused. I know exactly when I'm gonna step my ass in
1490	02:05:08 --> 02:05:12	there and tap dance all over this shit and moon walk my ass out the door with a
1491	02:05:12 --> 02:05:17	bounty. I'm gonna do that anytime I fucking want. And when you learn how to
1492	02:05:17 --> 02:05:22	do it, you'll do the same thing. It's confidence that you cannot appreciate
1493	02:05:22 --> 02:05:30	until you have it in the hands of weaker men and ladies, you'll be a prick like I
1494	02:05:30 --> 02:05:35	was on American wine when I finally got it, I was an asshole. You think I'm an
1495	02:05:35 --> 02:05:40	asshole now? No, I was bragging. I was really bragging all the time. I'm just
1496	02:05:40 --> 02:05:43	spitting facts right now, and I'm bringing receipts every single day, but
1497	02:05:44 --> 02:05:48	you don't want to accept it because you can't do it yet, and you think it should
1498	02:05:48 --> 02:05:51	have happened to you because you watch a few videos, or you scribble some
1499	02:05:51 --> 02:05:56	bullshit on a notepad or a napkin at work, and you think that you've been
1500	02:05:56 --> 02:06:00	journaling. That's not That's not a real attempt at doing it. You're half assing
1501	02:06:00 --> 02:06:03	it. If you're half assing it, don't be surprised when you get half assed
1502	02:06:03 --> 02:06:08	results. When you make it your business, that this is your career, you are
1503	02:06:08 --> 02:06:15	learning how to operate and run a business. What is it you incorporated?
1504	02:06:15 --> 02:06:21	You incorporated because trading opens up so many more opportunities than just
1505	02:06:21 --> 02:06:25	getting funded, getting paid out, getting in an account with real money in
1506	02:06:25 --> 02:06:31	it and taking withdrawals from it. If that's all you see in trading, wow, what
1507	02:06:31 --> 02:06:39	a myopic view you have. So many ways to turn this into a enterprise like I could
1508	02:06:40 --> 02:06:47	look at the look at the level I am right now. Okay, no advertising all word of
1509	02:06:47 --> 02:06:53	mouth, and I'm not even selling anything anymore. Any one of you right now would
1510	02:06:53 --> 02:06:58	love to be where I'm at, and you would be pushing it, maximizing it, squeezing
1511	02:06:58 --> 02:07:06	every drop out of the the level of attention, it's only right now, imagine
1512	02:07:06 --> 02:07:14	if you had that with real skill. All I'm trying to do is inspire you to do that.
1513	02:07:16 --> 02:07:22	Just do that and apply it to everything you do in life. You'll never run into
1514	02:07:22 --> 02:07:28	money, you'll never feel any kind of anxiety. You'll never have second doubts
1515	02:07:28 --> 02:07:32	about what you're going to be able to accomplish. You won't see any ceiling at
1516	02:07:32 --> 02:07:38	all. No ceiling. Anytime. I want to walk out in any given time and start making
1517	02:07:38 --> 02:07:41	millions of dollars, I can do it, and I don't need to be trading a market to do
1518	02:07:41 --> 02:07:45	it either. I can make millions in the trading market. I can make money in
1519	02:07:45 --> 02:07:48	millions of dollars marketing myself as an educator. I could go out and write
1520	02:07:48 --> 02:07:52	books. I can go out and make courses. I can do signal services. I can go around
1521	02:07:52 --> 02:07:58	do teaching circuits. I can be hired on by companies that are asking me every
1522	02:07:58 --> 02:08:07	fucking week, please train our analysts. No who's in a seat of control. Here I
1523	02:08:07 --> 02:08:12	am. When you're comfortable with what you have and you don't need anymore,
1524	02:08:13 --> 02:08:16	that's a feeling none of you can understand. I don't ever need to trade.
1525	02:08:16 --> 02:08:20	I don't ever need to make any more money doing anything. I'm completely
1526	02:08:20 --> 02:08:28	comfortable. My family is set that's what you want to be able to do for your
1527	02:08:28 --> 02:08:33	family. You want to be able to lock it down, set it up where it's residual
1528	02:08:33 --> 02:08:33	wealth,
1529	02:08:34 --> 02:08:41	legacy wealth. But I hold my children to a higher degree of responsibility, while
1530	02:08:41 --> 02:08:45	they could easily just have money thrown in their hands, and I've done this, and
1531	02:08:45 --> 02:08:48	they've recklessly spent it. They've done stupid shit with it, put it in
1532	02:08:48 --> 02:08:54	fucking cryptocurrency and whatnot, and lost it with JDS brokers their wallet.
1533	02:08:54 --> 02:08:58	Something didn't happen. They can't get their money. Some other crypto went to
1534	02:08:58 --> 02:09:08	zilch, zero. Hey, shit happens, but I make them work. I want them to know what
1535	02:09:08 --> 02:09:12	it feels like, because if I just give them money, and they've never tasted
1536	02:09:12 --> 02:09:18	what it's like for everyone else to like it was for me, I had to work and part
1537	02:09:18 --> 02:09:22	time jobs on top of it, when I was replenishing the money I blew in those
1538	02:09:22 --> 02:09:28	accounts, I had to work a secondary job to get it. It took a lot to be able to
1539	02:09:28 --> 02:09:33	get that money back in there just to do it again. But I didn't lose hope. I was
1540	02:09:33 --> 02:09:36	cussing, right? Never even the whole time I had to do it, wanting to quit the
1541	02:09:36 --> 02:09:41	extra job I was working, but I knew, unless I did this, nothing's going to
1542	02:09:41 --> 02:09:46	change. Nothing is going to change unless you put your feet to the ground
1543	02:09:46 --> 02:09:51	and say, I'm digging my heels in. I know it's going to be hard. I know I'm going
1544	02:09:51 --> 02:09:55	to have pushback. I know it's going to be requiring me to put time into it.
1545	02:09:55 --> 02:09:58	When all my friends are out there running around and clubbing and doing
1546	02:09:58 --> 02:10:01	this and chasing tail and doing this. Doing that and drinking, having fun on
1547	02:10:01 --> 02:10:04	the weekends, knowing I'm gonna be in these charts, studying, I'm gonna be
1548	02:10:04 --> 02:10:09	living my life differently, but they're still gonna be out there trying to chase
1549	02:10:09 --> 02:10:14	tail broke as fuck, driving a beer fucking car. Ain't doing shit in their
1550	02:10:14 --> 02:10:21	life, and you'll be able to pull down annual fucking salaries on a week you
1551	02:10:21 --> 02:10:26	can't even imagine where you're going to be. You can't even imagine it. Whatever
1552	02:10:26 --> 02:10:31	you think, whatever you think is your level of success, it's not big enough.
1553	02:10:33 --> 02:10:38	It's not big enough. You have no idea. When you strip all these limitations
1554	02:10:38 --> 02:10:42	that you put on yourself, you shackle yourself with your own mindset. You do
1555	02:10:42 --> 02:10:47	it. This is all I can see myself doing right now. When you start making
1556	02:10:47 --> 02:10:51	$100,000 a year, you start thinking yourself, Well, shit, that wasn't all
1557	02:10:51 --> 02:10:55	that hard. I found it really hard. Well, now I'm gonna aim for $500,000 and the
1558	02:10:55 --> 02:10:58	attempts that you do to do that, you get there in less than half the time. You
1559	02:10:59 --> 02:11:02	start thinking, Well, shit. They say the first million dollars is the hardest
1560	02:11:02 --> 02:11:06	one. I'm about there, boom, a couple of months, and then you're there. Then you
1561	02:11:06 --> 02:11:09	look back and say, a million dollars isn't all that much money. And yeah, it
1562	02:11:09 --> 02:11:12	took some effort, but it didn't take as much effort I thought it was gonna take.
1563	02:11:12 --> 02:11:19	And then you start making 5 million, 10 million, 15 million, 50 million, and I'm
1564	02:11:19 --> 02:11:23	talking in numbers now you can fucking comprehend but it is what it is, folks.
1565	02:11:23 --> 02:11:27	It's just math. It's just math. You're compounding the efforts of what you're
1566	02:11:27 --> 02:11:33	able to do on the smallest form and that little cookie cutter mold that I'm gonna
1567	02:11:33 --> 02:11:37	find five handles in the s, p to begin with, and I'm gonna let it grow to I can
1568	02:11:37 --> 02:11:43	start doing eat and in 10, or start with 20 and NASDAQ and work towards 30 and 40
1569	02:11:43 --> 02:11:48	to 50. You only got to do them a few times a week, folks. And as your equity
1570	02:11:48 --> 02:11:53	increases, you can afford to do more contracts. That compounds, and you keep
1571	02:11:53 --> 02:11:57	adding it more and more and more. But the level of risk is always the same.
1572	02:11:57 --> 02:12:01	Whatever you associate in terms of your risk, I'm not going to risk more than 1%
1573	02:12:01 --> 02:12:06	but I can't get rich trading with 1% bullshit. You can get rich trading with
1574	02:12:06 --> 02:12:12	one quarter of 1% you have to submit the time. None of you want to do that part,
1575	02:12:13 --> 02:12:16	but that's the part you have to submit to. That's the first thing I submitted
1576	02:12:16 --> 02:12:21	to when I first started trading. I had a 20 year plan. Imagine me writing a book
1577	02:12:22 --> 02:12:28	how to be successful and retire 20 years as a trader. Nobody's buying that book
1578	02:12:28 --> 02:12:32	now in the 80s and the 90s, that would have been a great title, because
1579	02:12:32 --> 02:12:35	everything was around. What for younger folks. You ain't gonna know this, but it
1580	02:12:35 --> 02:12:40	was all mutual fund. It was when mutual funds and infidel, infidelity, fidelity,
1581	02:12:40 --> 02:12:44	everybody was trying to get people to invest in these mutual funds, and they
1582	02:12:44 --> 02:12:49	were projecting, this is what you should do. Average is 12% return on stocks over
1583	02:12:49 --> 02:12:52	the course of the years. You put this much money in your money can compound.
1584	02:12:52 --> 02:12:56	You'll have a million dollars by the time you're whatever. So I was like,
1585	02:12:56 --> 02:13:03	Well, shit, if I can make 12% in a mutual fund a year, what happens if I
1586	02:13:03 --> 02:13:10	start making 12% a month? And then what happens when I start making 12% every
1587	02:13:10 --> 02:13:16	two weeks? And then what happens if I make 12% a week? And what happens if I
1588	02:13:16 --> 02:13:23	can compound my efforts and find trades that yield 12% in the same day.
1589	02:13:24 --> 02:13:28	Suddenly, all these big numbers that were fearful for me as even
1590	02:13:28 --> 02:13:35	contemplating as realistic ever to reach for they became reachable because I'm
1591	02:13:35 --> 02:13:41	not increasing the level of effort in my trades. All I need is the setup, and as
1592	02:13:41 --> 02:13:45	the equity increases in the baseline is whatever it is at the time, it's 100,200
1593	02:13:46 --> 02:13:51	50,000 500,000 million dollar account, whatever that is, the risk percentage is
1594	02:13:51 --> 02:13:55	never increasing. So whatever you've adopted as your model is, this is what
1595	02:13:55 --> 02:13:59	I'm going to risk. It's going to be 1% or less. It's going to be a half
1596	02:13:59 --> 02:14:02	percent. It's going to be one quarter percent. You're trying to tell me you're
1597	02:14:02 --> 02:14:07	not satisfied risking one quarter of 1% of a million dollars if you have that in
1598	02:14:07 --> 02:14:13	your trading, okay, it's real money, not funded, bullshit. It's real money, and
1599	02:14:13 --> 02:14:20	you're able to take down a setup that yields five to eight to 10 times what
1600	02:14:20 --> 02:14:26	you're risking, really, you don't, you don't think that that's a good living,
1601	02:14:27 --> 02:14:38	50 fucking grand a week. You can't get rich. You're fucking great. That's rich.
1602	02:14:38 --> 02:14:42	You don't know what the fuck you're talking about. You failed math. But you
1603	02:14:42 --> 02:14:50	have to give yourself time. You gotta let it build up. And as you grow, and
1604	02:14:50 --> 02:14:54	you put more things into operation, where you're running a business, and you
1605	02:14:54 --> 02:14:59	start milking social media, and then if you put your presence online, where you
1606	02:14:59 --> 02:15:03	can. Monetize that as well, then you get best, the best tax treatment there is.
1607	02:15:04 --> 02:15:08	You can drive all these big, fancy cars and lease them and laugh at people and
1608	02:15:08 --> 02:15:12	say, Oh, it's a lease, yeah, I'm getting paid to drive it, fucker. Enjoy riding
1609	02:15:12 --> 02:15:16	around your beater ass fucking pickup truck. It's 15 years old, dusty ass shit
1610	02:15:16 --> 02:15:19	with McDonald's french fries that ain't even fucking decomposed yet, sitting
1611	02:15:19 --> 02:15:22	back here talking about some Oh, you know, you drive around on these car,
1612	02:15:22 --> 02:15:26	bitch, get out of here. My cars cost more than your fucking house. Get the
1613	02:15:26 --> 02:15:30	fuck out of here. With your bullshit. These people will try to tear you down
1614	02:15:30 --> 02:15:34	all the time. And the more success you have, the more success that you share.
1615	02:15:34 --> 02:15:37	There are more of them gonna come at you. They're gonna live your life
1616	02:15:37 --> 02:15:40	worrying about what they're gonna say about you. Fuck these people. They are
1617	02:15:40 --> 02:15:43	losers. The fact that they're spending their time talking about you, they're
1618	02:15:43 --> 02:15:47	fucking showing you they're losers. Nobody that has success spends any time
1619	02:15:47 --> 02:15:52	talking about somebody else. Nobody does. Nobody has time talking about that
1620	02:15:52 --> 02:15:58	shit. You keep your business minded by you. You mind your own business. Nobody
1621	02:15:58 --> 02:16:02	else is gonna mind it. You do it and you stay at everybody else's business. You
1622	02:16:02 --> 02:16:08	keep your head in the charts, you keep building understanding yourself. Where
1623	02:16:08 --> 02:16:12	you make mistakes. Where do you fear? What do you get anxious about? What do
1624	02:16:12 --> 02:16:18	you get too overzealous about? Prematurely or overconfident? Because
1625	02:16:18 --> 02:16:25	there's a real thing like that. I to identify those things. They're going to
1626	02:16:25 --> 02:16:30	help you prune that tree, that money tree that you're growing into a money
1627	02:16:30 --> 02:16:37	tree. I'm a money making dynamite. I can walk out these fucking doors. I could
1628	02:16:37 --> 02:16:44	lose everything. I could literally lose every fucking thing, and I could start
1629	02:16:45 --> 02:16:50	with zero money in my fucking pocket, and in 12 months be a multi millionaire
1630	02:16:50 --> 02:16:57	again. Do you feel that confident about yourself? Because everything I talked
1631	02:16:57 --> 02:17:04	about in this presentation today, it all leans on having one skill set. I could
1632	02:17:04 --> 02:17:09	be bred, I could be broke as fuck, and I can sit down with people and say, look,
1633	02:17:12 --> 02:17:16	let's come together. I'm going to prove to you that I can do this. Okay? I'm
1634	02:17:17 --> 02:17:24	going to prove to you that this can be made with real money. I don't have the
1635	02:17:24 --> 02:17:27	money to give to you right now to contribute, but I had the skill set.
1636	02:17:28 --> 02:17:31	Okay, I'm gonna pull back the veil and tell you what I was doing my younger
1637	02:17:31 --> 02:17:37	years, when I got a married woman pregnant. I had to do this very thing. I
1638	02:17:37 --> 02:17:43	had to be on the radar. I had friends that knew, friends and family that had
1639	02:17:43 --> 02:17:48	money. That's how it worked. So because I couldn't sit down and put money in a
1640	02:17:48 --> 02:17:51	brokerage firm, because this one was trying to get my back pocket all the
1641	02:17:52 --> 02:17:59	time, so I worked menial jobs. I did those things to keep a gold digger from
1642	02:17:59 --> 02:18:05	my bucket my back pocket. I did that. I promised her when we went to court, I
1643	02:18:05 --> 02:18:08	said, you won't see a fucking penny, and I had joined custody. So for the people
1644	02:18:08 --> 02:18:12	saying I was a deadbeat dad, I had him every day of the week, except for one
1645	02:18:12 --> 02:18:19	night Thursday, when you broadcast you have lots of money. You invite that kind
1646	02:18:19 --> 02:18:23	of shit. And some of you young men literally are asking for the biggest
1647	02:18:23 --> 02:18:24	fucking shock of your life.
1648	02:18:32 --> 02:18:37	My cousin owns a business. He does real well. He wants to talk to you, okay,
1649	02:18:39 --> 02:18:44	show me what it's going to do on this. All right. This, this, this, this, this,
1650	02:18:44 --> 02:18:48	damn, do it again tomorrow. All right, it's going to do this, this, this, this,
1651	02:18:48 --> 02:18:54	this, this, how could I how much money if I made there? 20 grand? What? Yep,
1652	02:18:55 --> 02:19:04	what's the split? I get 15% and help anytime I need it. And that's what I was
1653	02:19:04 --> 02:19:10	doing. That's exactly what the fuck I was doing. And I had everything I ever
1654	02:19:10 --> 02:19:17	wanted. I had money all the time. I had so many friends and resources and more
1655	02:19:17 --> 02:19:23	people constantly coming up. And I was scratching their back, they were
1656	02:19:23 --> 02:19:30	scratching mine. They were giving me gifts. Okay, so when people talk shit
1657	02:19:30 --> 02:19:34	about you and tear you down and think that they're winning, and you laugh at
1658	02:19:34 --> 02:19:39	them because you beat every fucking obstacle that was placed in front of
1659	02:19:40 --> 02:19:46	you, who's really laughing loudest? There's always going to be someone in
1660	02:19:46 --> 02:19:50	your family, your friends, that's going to deny and say you can't do this.
1661	02:19:50 --> 02:19:54	They're going to tell you, don't bake don't waste your time doing it. Don't
1662	02:19:54 --> 02:19:57	try, don't even bother trying. You're going to fail. You're going to fail.
1663	02:19:57 --> 02:20:03	You're going to fail. That's the enemy talking. You. That is something that's
1664	02:20:03 --> 02:20:08	trying to steal your future legacy that's literally being laid in front of
1665	02:20:08 --> 02:20:11	you. If it's your first time you ever listen to me, it's being laid in front
1666	02:20:11 --> 02:20:16	of you right now. And I guarantee you, if you make the mistake of talking about
1667	02:20:16 --> 02:20:19	to somebody else, friend or family, they're going to give you 15 fucking
1668	02:20:19 --> 02:20:24	reasons why you shouldn't do it. And ain't them telling you that it's the
1669	02:20:24 --> 02:20:34	enemy, steal, kill, destroy, that's what they do. And if you believe them, that's
1670	02:20:34 --> 02:20:44	unfortunate, because you can do this. You absolutely can do it. There's so
1671	02:20:44 --> 02:20:48	many people now that's came forward and says, This is what I use, and this is
1672	02:20:48 --> 02:20:52	what it's working for me. And you believe what you want to believe, but
1673	02:20:52 --> 02:20:57	I'm making money. And here's the proof. Here's the evidence of it. I promised
1674	02:20:57 --> 02:21:00	you two years ago I was going to bring the receipts, and here they are. But how
1675	02:21:01 --> 02:21:06	many people are out there saying, you know, this is it. I found my way. I
1676	02:21:06 --> 02:21:11	don't fear losing my job. I don't fear another pandemic. I don't fear
1677	02:21:11 --> 02:21:16	inflation. I don't give a shit what gas cost. I could care less what gasoline
1678	02:21:16 --> 02:21:20	cost. I have eight cylinder engines. I'm not going to size down. I will pay their
1679	02:21:20 --> 02:21:26	small tax. I don't give a fuck. None of that bothers me. None of that's a
1680	02:21:26 --> 02:21:32	deterrent to how I'm going to spend my money. That is a living experience that
1681	02:21:32 --> 02:21:37	I want all of you to have. I want you to all look at things and say, You know
1682	02:21:37 --> 02:21:43	what? I don't fear what things cost. I don't fear inflation, because you'll
1683	02:21:43 --> 02:21:50	always outpace it. When you're a student that goes through college and you have a
1684	02:21:50 --> 02:21:57	college education, inflation still a factor to you. Oh, well, you you don't
1685	02:21:57 --> 02:22:02	understand. House prices are too high. I know I paid over $2 million for this
1686	02:22:02 --> 02:22:07	house I paid too much money. Every house is inflated right now you're not going
1687	02:22:07 --> 02:22:10	to have a house because it's too, too expensive. You gotta have a place to
1688	02:22:10 --> 02:22:15	live, right? I don't give a shit, because I know all the things I'm doing
1689	02:22:15 --> 02:22:21	elsewhere are offsetting whatever I spent on this. I got a free RV,
1690	02:22:21 --> 02:22:26	basically for $300,000 it takes me about six years or so, and it'll be
1691	02:22:26 --> 02:22:31	depreciated. That's all being taken away from my taxable income, all my cars,
1692	02:22:32 --> 02:22:36	except for one family vehicle. I always had a car that was considered the family
1693	02:22:36 --> 02:22:44	vehicle, but I've always had company cars every gasoline intake that I put in
1694	02:22:44 --> 02:22:50	those except for my family car, is 100% right off when I buy food at a
1695	02:22:50 --> 02:22:54	restaurant. It used to be you had to talk about business, but they did away
1696	02:22:54 --> 02:22:57	with that. Now it's not like that anymore, but 50% of whatever you spend
1697	02:22:57 --> 02:23:01	in food look how much food costs if you go through a restaurant, say you go to,
1698	02:23:01 --> 02:23:07	uh, go to a Ruth. Chris, okay, have yourself a nice meal, nice crab cake,
1699	02:23:07 --> 02:23:14	nice steak or whatever. You can't not spend at least 200 some dollars. Well,
1700	02:23:14 --> 02:23:19	you're beat out of six of 200 hours plus the the chat, the tip, if you want to
1701	02:23:19 --> 02:23:23	give it, some people don't like the tip, which I think is ignorant, but it is
1702	02:23:23 --> 02:23:29	what it is. You're You're beat out of that money. Whenever I spend money, half
1703	02:23:29 --> 02:23:36	of whatever I spend is deducted from whatever my taxable income is when I go
1704	02:23:36 --> 02:23:43	on vacations, when I when I buy things like my computer, all of peripherals
1705	02:23:43 --> 02:23:49	that go for my computer All right off. So when I buy stuff, I buy the highest
1706	02:23:49 --> 02:23:55	in everything. I want the maximum benefit of having the best and I want
1707	02:23:55 --> 02:23:59	the maximum write off see. When you're an employee working for a company,
1708	02:24:00 --> 02:24:03	you're looking for what you can afford because you're getting beat for what you
1709	02:24:03 --> 02:24:09	spend because you're not financially literate. You've been indoctrinated.
1710	02:24:09 --> 02:24:14	You've been told the American dream is, go to work, get a good job, get an
1711	02:24:14 --> 02:24:18	education, get a house, get tied up in a 30 year mortgage. Fuck 30 year
1712	02:24:18 --> 02:24:22	mortgages. If you have a mortgage, you're an idiot. You're paying fucking
1713	02:24:22 --> 02:24:26	two times, three times for a house that's already too much money when it's
1714	02:24:26 --> 02:24:30	just so much easier for you to rent something that you can afford. Learn how
1715	02:24:30 --> 02:24:34	to invest. Take that money, maximize it, build it up and buy something fucking
1716	02:24:34 --> 02:24:41	cash. Oh, it's easier said than done. I understand that. I look I hear you. I
1717	02:24:41 --> 02:24:50	hear you. But I was there the same way. I lived in apartments, I lived in areas
1718	02:24:50 --> 02:24:55	that I would not feel comfortable walking in. I had did all that stuff.
1719	02:24:55 --> 02:24:58	Nobody walks out, you know. Well, let me, let me rephrase, there are people
1720	02:24:58 --> 02:25:05	walking around with silver. Doing up their ass, but it wasn't me. My middle
1721	02:25:05 --> 02:25:10	name is Joe, average fucking Joe. That's raking from average Joe from Middle
1722	02:25:10 --> 02:25:16	River, Maryland. That is me. And if I can do this with all the hardships and
1723	02:25:16 --> 02:25:21	mental illness and shit that I had to deal with, I know you can. I've already
1724	02:25:21 --> 02:25:27	been here. I've blazed that trail. I know all the problems. I know where
1725	02:25:27 --> 02:25:30	you're going to Step and twist your ankle. Don't step there. I have dudes
1726	02:25:30 --> 02:25:35	Listen to me. You don't want to listen to conversations like this. Oh, I got
1727	02:25:35 --> 02:25:38	better things to do this Saturday, I listen to this. This guy talks too much.
1728	02:25:38 --> 02:25:41	You love the way he talks. He loves his own voice, no, and I don't like my own
1729	02:25:41 --> 02:25:49	voice, actually. But the point is this, if someone that you knew had a big ass
1730	02:25:49 --> 02:25:55	fucking house, 10,000 square foot house, millions of fucking dollars, makes money
1731	02:25:55 --> 02:26:00	hand over fist, doesn't go to work, just does whatever the fuck they want to do,
1732	02:26:00 --> 02:26:05	and they say, Hey, let me help you out. Let me show you how to make some money.
1733	02:26:05 --> 02:26:08	Would you tell that guy? Go fuck himself. Get out of guy. Got time listen
1734	02:26:08 --> 02:26:15	to you. No, you'd be like, Yeah, I'd love to hear what you have to say. See,
1735	02:26:15 --> 02:26:19	the difference is you just look at a chart that says demo down on the left
1736	02:26:19 --> 02:26:23	hand side, and that's a big impediment. For some of you, you're a victim to
1737	02:26:23 --> 02:26:30	social media. You're a victim to indoctrination. See, I can't come out
1738	02:26:30 --> 02:26:37	here and promise you getting rich. I can't, I won't. But for the people that
1739	02:26:37 --> 02:26:43	are astute, they can see they can read between the lines. Okay? He's not
1740	02:26:43 --> 02:26:47	promising that I'm gonna get rich. He says promising that I'm gonna be able to
1741	02:26:47 --> 02:26:53	tell where this market's gonna go before it does it more times than not. Okay, so
1742	02:26:53 --> 02:26:58	now, what happens when I monetize that transaction? Oh, shit. And if I can
1743	02:26:58 --> 02:27:07	repeat it, oh my goodness, I didn't say it. This is something you came up with.
1744	02:27:08 --> 02:27:13	You came to that decision to start putting money behind it. And the
1745	02:27:13 --> 02:27:17	question really is, is, who wouldn't if you get really good at something, if you
1746	02:27:17 --> 02:27:22	knew the winning lottery numbers three days out of a week. Wouldn't you fucking
1747	02:27:22 --> 02:27:27	play lottery? When you deliver pizza to get some extra money to buy more
1748	02:27:27 --> 02:27:32	tickets, you would start doing all kinds of shit, right? And that's why I entice
1749	02:27:32 --> 02:27:37	all of you to simply go in and study what I've shared. If it's there, you'll
1750	02:27:37 --> 02:27:42	see it, and then you'll start doing the math and say, Oh, well, if I do this and
1751	02:27:42 --> 02:27:47	this, and then all of a sudden, the trader bug has bit you, you're infected
1752	02:27:47 --> 02:27:52	for life. And then once you see it working, you can't unsee it everything
1753	02:27:52 --> 02:27:55	else you listen to other people talk about why the market's going up and
1754	02:27:55 --> 02:28:00	down. It's laughable. It's comedy. And that's what makes us in the the eyes of
1755	02:28:00 --> 02:28:05	other people's discipline that were toxic. No, we just it is what it is.
1756	02:28:05 --> 02:28:08	It's the same thing. When you go to a football game, the other team that you
1757	02:28:08 --> 02:28:13	know, the, what do you call it? The the fans of the other team, they're in the
1758	02:28:13 --> 02:28:17	stands with you, and they're talking shit, just like you know, you're going
1759	02:28:17 --> 02:28:20	to talk to them, Steelers versus the Ravens. You know, I
1760	02:28:20 --> 02:28:23	couldn't tell you anything about football. Okay, that's probably the
1761	02:28:23 --> 02:28:28	extent of it. But I know that that rivalry, you know, the fans go at each
1762	02:28:28 --> 02:28:33	other. It's the same thing with this. I don't have my heart broken over to over
1763	02:28:33 --> 02:28:36	this stuff that when people say shit about me, I don't get upset about it.
1764	02:28:36 --> 02:28:41	That's laughable to me. It's, it's funny. The same thing with these fans.
1765	02:28:41 --> 02:28:46	Sometimes, some fanatics go too far, and they want to throw fists, or they want
1766	02:28:46 --> 02:28:50	to do things and follow you back to your car, and they want to follow you back to
1767	02:28:50 --> 02:28:52	your house, and they discover how much brass you have, and they made the
1768	02:28:52 --> 02:28:59	mistake. Okay, that's the problem when people go too far. And it's important
1769	02:28:59 --> 02:29:04	that if you grow in this and you become some kind of a celebrity, which I don't
1770	02:29:04 --> 02:29:09	want to be a celebrity, that the level of attention you're going to discover,
1771	02:29:09 --> 02:29:16	some of you aren't, aren't going to be comfortable with it. So just know that
1772	02:29:16 --> 02:29:23	you can become huge in this industry and become huge in terms of influence, be
1773	02:29:23 --> 02:29:29	madly successful, but you're going to get some weirdos that simply just want
1774	02:29:29 --> 02:29:33	to be weirdos, and it just, it's uncomfortable, it's weird. They sit
1775	02:29:33 --> 02:29:37	outside your house just to get pictures of you going through the mailbox. They
1776	02:29:37 --> 02:29:40	want to see your wife. They want to see your kids. They want to see what you're
1777	02:29:40 --> 02:29:43	driving. They want to see what your lawn looks like. They want to go through your
1778	02:29:43 --> 02:29:47	trash cans like we literally wait for the trash guys that come in to our
1779	02:29:47 --> 02:29:50	neighborhood before we put our trash out, because we have people in our trash
1780	02:29:50 --> 02:29:55	cans. Think about that. It's love. That's next level kind of creepy shit,
1781	02:29:55 --> 02:29:59	right? So just be careful what you ask for, because you really want to be a.
1782	02:30:00 --> 02:30:03	Big celebrity, you want to have all kinds of attention. There's going to be
1783	02:30:03 --> 02:30:07	people that want to get closer to you, and if you're you don't want to be best
1784	02:30:07 --> 02:30:11	buddies with them. They become weirdos, okay? And they take offense to it, and
1785	02:30:11 --> 02:30:15	they make up lies about you and talk on this kind of bullshit. And no matter
1786	02:30:15 --> 02:30:17	what you do, there's going to be other people out there that will believe
1787	02:30:17 --> 02:30:23	anything toxic said about you, even if it's not true and that's just the state
1788	02:30:23 --> 02:30:27	of the world. So there are all the pitfalls and the plagues that trading is
1789	02:30:27 --> 02:30:32	going to present to you, and how you navigate them is up to you. I've shared
1790	02:30:33 --> 02:30:38	what I have gone through myself. I have given you some advice on how to think
1791	02:30:38 --> 02:30:41	about it and how to navigate it. And the last bit of business called just forgot
1792	02:30:41 --> 02:30:45	about it and just forgot about it and just remembered it. A lot of you are
1793	02:30:45 --> 02:30:49	asking where my son, Cameron is in his trading. And for some of you that don't
1794	02:30:49 --> 02:30:56	know, I have, I have four boys, and my 18 year old, he is the same one that was
1795	02:30:56 --> 02:31:01	trying to get funded through and got funded with three accounts with top
1796	02:31:01 --> 02:31:07	step. He made his way to their little leaderboard thing. He was up there two
1797	02:31:07 --> 02:31:13	days in a row, whatnot. He had two payouts, and then failed to hold on to
1798	02:31:13 --> 02:31:19	it, lost it and then tried to get, I don't remember, whatever their biggest,
1799	02:31:19 --> 02:31:23	I think it's 100,000 account, whatever their biggest one is. He was trying to
1800	02:31:23 --> 02:31:28	do that after he lost his funded account, and then he failed on that. So
1801	02:31:28 --> 02:31:33	what he's going through is he had girlfriend, and some of you that are
1802	02:31:33 --> 02:31:36	little dick energy guys, you're gonna say this is perfect excuses, blah, blah,
1803	02:31:36 --> 02:31:40	whatever he should be perfectly because he's your son and he should be doing
1804	02:31:40 --> 02:31:45	this. And I force them to do this on their own. I give them advice, I tell
1805	02:31:45 --> 02:31:50	them how to trade, but they still have to follow the rules. How many people get
1806	02:31:50 --> 02:31:53	in the car? I've said, by not simply following the rules to stay on your side
1807	02:31:53 --> 02:31:56	of the fucking road, that line in the middle of the road is there to say,
1808	02:31:56 --> 02:32:00	Don't cross me. How many times do you cross it? How many times are you texting
1809	02:32:00 --> 02:32:03	and your shit goes over that line. So don't give me the bullshit about because
1810	02:32:03 --> 02:32:07	he's my son, it's still he's being held to accountability. I'm not making it
1811	02:32:07 --> 02:32:14	easy for any of them. So had a girlfriend, and she was going away to
1812	02:32:14 --> 02:32:17	college this year, and I sat down with them on the summer I said, I'm just
1813	02:32:17 --> 02:32:21	letting you know your chances of you surviving a boyfriend relationship,
1814	02:32:21 --> 02:32:26	girlfriend type thing is next to zero, because you're going out of state,
1815	02:32:26 --> 02:32:31	you're gonna be gone for months, and Cameron is going to want to worry you to
1816	02:32:31 --> 02:32:34	death, texting you, missing you, whatever, because he's a romantic at
1817	02:32:34 --> 02:32:41	heart, like his dad, right? So, long story short, the inevitable happen. She
1818	02:32:41 --> 02:32:48	said, You know, I, I can't stay with you in a boyfriend relationship, so we can
1819	02:32:48 --> 02:32:53	be friends. And she started dating another guy on campus. So that's done
1820	02:32:53 --> 02:32:59	him, in terms of, it broke his heart. He's he's not he's not the same anymore,
1821	02:32:59 --> 02:33:06	like he doesn't have any kind of drive. He's depressed all the time. It's just,
1822	02:33:06 --> 02:33:10	it's, it's sad. But I see myself because my first wife, I was the same way, like
1823	02:33:10 --> 02:33:16	she was my first in everything, and when she broke up, it was devastating, like I
1824	02:33:16 --> 02:33:20	couldn't think about anything but her it was just, it was a mess. It was total
1825	02:33:20 --> 02:33:24	mess. And he's going through that right now. So he doesn't want to do any
1826	02:33:24 --> 02:33:27	trading, he doesn't want to do video games, he doesn't want to hang out with
1827	02:33:27 --> 02:33:31	family. Doesn't want to do anything. He just goes to work, comes home tired and
1828	02:33:31 --> 02:33:37	sore, and then hates his life, he said, so it's depression. That's the reality
1829	02:33:37 --> 02:33:43	of the real world, folks. Okay, trading doesn't remove it okay, even if you make
1830	02:33:43 --> 02:33:46	money, those things are going to happen in your life. You're going to have a
1831	02:33:46 --> 02:33:51	breakup, you're going to have a health problem, you're going to, you know, get
1832	02:33:51 --> 02:33:54	into a car accident, and things are going to get broken or destroyed, and
1833	02:33:54 --> 02:33:57	you're going to have to pay money out of pocket. Things are going to blow up
1834	02:33:57 --> 02:34:03	that, you know, cost you to replace. All those things are stressful, and he's
1835	02:34:03 --> 02:34:09	young. When he's 18 years old, this is his first adult thing, and he's
1836	02:34:09 --> 02:34:16	wrestling with it. So guys, ladies, you don't know this, but men really have it
1837	02:34:16 --> 02:34:20	hard when a girl breaks up with them, especially when you didn't see it
1838	02:34:20 --> 02:34:25	coming, and they were cute together. If they weren't having the separation of
1839	02:34:25 --> 02:34:29	college, I think they would still be together. But you know, you spend months
1840	02:34:29 --> 02:34:34	away from each other, and then you are separate from your family too, in a new
1841	02:34:34 --> 02:34:37	location, constantly stress with school, and somebody starts giving you
1842	02:34:37 --> 02:34:40	attention. What are you going to do? You're going to PAL out with them. And
1843	02:34:40 --> 02:34:46	it's natural. It's unfortunate, but it's still it's natural, and he's wrestling
1844	02:34:46 --> 02:34:51	with that. So that's where he's at. He's not actively trying to do anything
1845	02:34:51 --> 02:34:56	except for work, his job, and he's going through depression. So that's the
1846	02:34:56 --> 02:35:00	reality of the real world, folks. I mean, it is what it is you. He has to
1847	02:35:00 --> 02:35:04	snap out of that. He has to pull himself together. And it took a while for me to
1848	02:35:04 --> 02:35:10	do it when I was younger, but eventually I realized that it's one person that I
1849	02:35:10 --> 02:35:15	wasn't meant to be with. It was nice while it lasted. I learned from it, and
1850	02:35:15 --> 02:35:20	I had better things to go and conquer, and that'll happen for him too, but
1851	02:35:22 --> 02:35:25	that's where he's at. And he's not in there trying to do anything else with
1852	02:35:25 --> 02:35:34	with top step. He's not trying to do anything at all with trading. So we're
1853	02:35:34 --> 02:35:38	giving him space. I'm not trying to push on him. And when he wants to talk to me
1854	02:35:38 --> 02:35:43	about anything, you know I'm available for it, but he'll get tired of working,
1855	02:35:44 --> 02:35:48	and they'll be like, Okay, Dad, can you help me? I already told him, I said,
1856	02:35:48 --> 02:35:51	when you're ready to do it, we'll just sit down and we'll trade together.
1857	02:35:51 --> 02:35:55	That's how we'll do it. And then you'll watch me do it. You'll copy what I'm
1858	02:35:55 --> 02:35:59	doing. I'll explain why I'm doing it, and he'll make money, and he'll learn
1859	02:35:59 --> 02:36:03	how to do it also. And then by the amount of money he makes, he will never
1860	02:36:03 --> 02:36:07	put it down. That was, like, the last card I was going to use. I didn't want
1861	02:36:07 --> 02:36:11	to do that part in the beginning because it creates codependency, but, like,
1862	02:36:11 --> 02:36:16	that's my insurance card with him, and that's what all of you want, but I'm not
1863	02:36:16 --> 02:36:19	obligated to any of you. He's my son. He's going to succeed. He will be
1864	02:36:19 --> 02:36:22	successful at it, but I got to let him go through these periods of
1865	02:36:22 --> 02:36:28	uncomfortable where, if I don't do this, this is what it's like. So that way,
1866	02:36:28 --> 02:36:33	when he starts making money consistently in its annual salaries per month, he
1867	02:36:33 --> 02:36:42	won't do anything to mess that up. Not a relationship, not someone else that's a
1868	02:36:42 --> 02:36:47	friend, nothing that's his business. It's his it's his interest, to keep it
1869	02:36:47 --> 02:36:51	guarded, and he's not going to make stupid decisions because he's running an
1870	02:36:51 --> 02:36:55	enterprise. But how do you teach an 18 year old that stuff? They got to go
1871	02:36:55 --> 02:37:00	through some stuff, they got to feel discomfort. And for the people that's
1872	02:37:00 --> 02:37:04	going to try to try to play father 101, for me, okay? And tell me I should do
1873	02:37:04 --> 02:37:09	this. Do that. You manage your own kids, okay? You manage your own kids, and you
1874	02:37:09 --> 02:37:12	do what you got to do in your life and your family. I'll do the way I want to
1875	02:37:12 --> 02:37:17	do it. I'm not taking advice on how to raise my fucking kids, okay, but they
1876	02:37:17 --> 02:37:20	won't be homeless. Let's put it that way. And none of my kids live in fucking
1877	02:37:20 --> 02:37:25	trailers. I'm gonna toss that in there because it's some stupid shit. None of
1878	02:37:25 --> 02:37:29	my kids live in fucking trailers, and they're not fucking gonna be homeless.
1879	02:37:29 --> 02:37:34	So there you go. But anyway, Vinnie, Vinnie Minnie, bring your bitch ass into
1880	02:37:34 --> 02:37:37	Robin's cup. I'm absolutely gonna be in there and I'm gonna throttle your
1881	02:37:37 --> 02:37:41	fucking ass. Bring your shit, Mickey Mouse, because I'm going to fucking
1882	02:37:41 --> 02:37:46	cartoon your ass all the way through next year. Then the real fun starts
1883	02:37:46 --> 02:37:50	until I'll talk to you next time. Be safe. You.