Skip to Content
Last modified by Drunk Monkey on 2021-12-01 05:26
From version 53.1
edited by Drunk Monkey
on 2021-03-10 15:57
Change comment: There is no comment for this version
To version 54.1
edited by Drunk Monkey
on 2021-03-24 18:51
Change comment: There is no comment for this version

Summary

Details

Page properties
Content
... ... @@ -1876,6 +1876,232 @@
1876 1876  1. [[What Do You See?>>https://www.youtube.com/post/UgzpGuvl6l2EZC3wl8V4AaABCQ]]
1877 1877  [[image:ICTYT-20210309-EurUsd.jpg]]
1878 1878  1. [[See EurUsd an hour later>>https://www.youtube.com/post/UgxdhOy9PR8DB6yC0IJ4AaABCQ]]... Paid.
1879 +1. (((
1880 +[[EurUsd>>https://www.youtube.com/post/UgzegAOEBleWsUBqG4B4AaABCQ]]... did you Pay The Trader?
1881 +
1882 +Volatility incoming in New York session.
1883 +)))
1884 +1. (((
1885 +[[Sitting here enjoying a glass of OJ and prepping for ECB in a couple of hours>>https://www.youtube.com/post/UgzB78nRvge92H-ZHgx4AaABCQ]]...
1886 +
1887 +Instagram posts showing Before and After pics of supposed Setups. Strangely enough... the Before is posted at the same time as the After. Where was the actual Before... "before" it was Hindsight?
1888 +
1889 +The others that sell courses and whatnot that deposit money into a broker then ask for some of it back... fronting it like it was profits on trades. No ledger on where that withdrawal is coming from.
1890 +
1891 +Most of you need to stop and think. If it was worth the time to create the account for flaunting purposes... flaunt what everyone is supposed to believe... actual evidence you trade and not spend subscription money and rub it in the faces of the gullible and ignorant.
1892 +
1893 +How is this proof or worth looking at? lol
1894 +
1895 +Oh Instagramers you make me smile.
1896 +)))
1897 +1. (((
1898 +[[Inner Musings Of ICT>>https://www.youtube.com/post/UgxfihnePqe_26jD0RJ4AaABCQ]]:
1899 +
1900 +If I were a conartist...
1901 +
1902 +I would take a few million from the income I actually make selling education and deposit it in an account. Take 100k out every two weeks and show bank statements... showing the wire transfers from the brokerage I "over deposited" to.
1903 +
1904 +I would rent a few exotic cars, hire a videographer, some pleasant to look at ladies and rent some luxurious locales and toss it up good and proper. Then post this garbage on various social media and hire a dozen sockpuppets to love me on every post.
1905 +
1906 +I would show a white label MT4 server linked to a MyFxBook and have a fabicated track record to convince you I was the bees knees in trading... I don't know how to do this but I bet before I closed this day... and offered someone to set it up for me for cash... it would be so.
1907 +
1908 +However, I have morales and a conscience and that would be both pathetic and illegal.
1909 +
1910 +Instead, I keep all of my personal things as such... personal. I prefer to prove it in charts and skillset... visible in my track record of proving it beforehand... and turning everyday Folks into dynamos in Price Action.
1911 +
1912 +Pick your passion... I just don't do fraud. ;)
1913 +
1914 +Boring is Alpha.
1915 +
1916 +GLGT
1917 +)))
1918 +1. (((
1919 +[[Point To Ponder>>https://www.youtube.com/post/UgwHfTswxPSsB7viZo94AaABCQ]]...
1920 +
1921 +When a Central Bank announces policy changes or lack thereof and or rate changes... You, yes you reading this... have no way of knowing how they will reprice after it hits the newswires.
1922 +
1923 +I don't.. you don't and neither will either of us ever know this.
1924 +
1925 +Don't stand in front of a CB event. It can end you.
1926 +
1927 +Or do and learn like I did. :)
1928 +)))
1929 +1. (((
1930 +[[If you are a Novice>>https://www.youtube.com/post/UgzDT9dCgQcsFXGVt194AaABCQ]]... there is nothing wrong with aiming for 10 pips consistently.
1931 +
1932 +If you are Maestro... there is nothing stopping you from a career with the same 10 pips.
1933 +
1934 +The secret is Money Management.
1935 +
1936 +Don't let them fool you will high "R" multiples as the evidence of wealth. Velocity wins all battles.
1937 +)))
1938 +1. (((
1939 +[["Else">>https://www.youtube.com/post/UgyyclbbXgMOc8w_top4AaABCQ]]
1940 +
1941 +Hello Constant Reader,
1942 +
1943 +It is Saturday... once more.
1944 +
1945 +Time to reflect on what has been done, what should have been done, but wasn't... and to leave the things done incorrectly behind you. Let your baggage be light. It is easy to carry regrets on your trading and beat yourself up, when you do it wrong.
1946 +
1947 +You, should see things like this. It is a weight that will hold you down and slow your development. Each of us are human, as such, we will make mistakes. Even though many of you look up to me, in high regard, I am not immune to mistakes. So invite them in, they showcase your opportunity to improve.
1948 +
1949 +Contrast that with the thought process that many hold, concerning losing or mistakes. The common misconception is that elite Traders are perfect or never get stopped out, or always see their targets hit... and quite possibly that they have no need for a stop loss. This is nonsense and I can tell you that I am not able to lump myself into that fantasy... and neither will you.
1950 +
1951 +Trying to be perfect, without loss or any measure of drawdown... only brings that very thing. Fear clouds the minds of Traders and it need not be. If you would just relax and allow the natural process of wins overtaking losses, you will see there is nothing to worry about. It does not mean you can not trade. It does not mean you are less than you should be. It does not mean you have a broken model or approach. It simply means you are doing something that will yield losses from time to time... nothing more.
1952 +
1953 +The issue that arises in the minds of those plagued with "pursuit of perfection", is that they place too much emphasis on the next trade. It must be profitable or "else". Stop and think about that... because you know you have done this to yourself... more than once. :)
1954 +
1955 +What is "else"? There will be no future opportunities? Your trading model expires? You lose interest in the markets? What makes the next trade a must have profit or "else"?
1956 +
1957 +Your unrealistic thinking is what makes it so. I want to gently remind you that this is not a requirement to succeed in trading. It never was, and here is comforting news... it never will be.
1958 +
1959 +If you can trust me on this advice, you will find it liberating to allow losses to come in when they do. You will not meet them with a war mentality... you will see them as a cost to pay to avoid total ruin. The minor inconvenience of losing trades should be like a small papercut. Sure, it isn't on your list of things you want to do today... but it will not stop you from doing what you need to do. Regardless of the minor sting it presents you - every time you press against it, the day and its tasks still get done.
1960 +\\Why is there pain? It is to remind you that the thing you allowed to happen or you endured... was not good for you. Perhaps you mindlessly ran your finger down the edge of a fresh sheet of paper in your note taking... and as a result your finger was the recipient of a small paper cut. Is the fact that your finger receiving the papercut more of a pressing matter than the rest of the things you must do that day? No.
1961 +
1962 +In the same thought... how about the notes that piece of paper had on it... is this flawed logic now? Remember, the paper holding the notes has just injured your finger. There needs to be reparations... or no? Obviously, when you see it like this, it is amusing and hard to find logic in thinking like this. However, it is precisely the same logic you have when you make the next trade a must have profit... or "else".
1963 +
1964 +You will lose. Accept it. Losing is not defeat. It is not forced retirement as a Trader. It is part of the lifestyle you chose to live now. Why wage war against the adversary that is meant to be your ally? You can't defeat the loss in the offing, that has yet to visit you. You need not fear it... you simply set a plate at your table for it, and serve it when it arrives.
1965 +
1966 +How? Manage it in a manner that does not elevate it as the Master of your house. You are the Master of your house and your house is Trading your model. If you allow a single loss to decide your continuation as a Trader or belief in your model to diminish, you are not the Master of your house... you have given that role to your loss.
1967 +
1968 +Where is the strength or logic in this? It escapes sound reasoning and invites defeat. More than defeat... it is surrender. You are essentially saying that your next trade has to be profitable or "else" you aren't ever going to succeed. You do not admit this at the time you enter the trade... but the leverage and mindset about the absence of a stop loss, come hell or high water you will take something out as a gain. Leaving no room to permit imperfection... and you wonder why you are stressed in the trade?
1969 +
1970 +The sound logic is this...
1971 +
1972 +"I can accept a result that is not favorable. If I follow my model, manage the risk impeccably, manage the position and take partials along the way... I will be fine. Or "else", I will need to endure needless pain and exaggerated drawdown, of which I was the sole responsible party."
1973 +
1974 +See the difference there? One mindset says... "I have to win or else I fail entirely" and the other recognizes the risk of not following sound Trade & Risk Management protocols and owns the responsibility. The second mindset is open to imperfection and it sees the losses as a transaction without gain... nothing more. The first mindset sees any loss as the death blow that ends their Trading career.
1975 +
1976 +Choices... we all have them. Which mindset do you want to hold fast to in this career?
1977 +
1978 +Choose wisely.
1979 +
1980 +As you were...
1981 +~_~_~_~_~_~_~_~_~_~_~_~_~_~_~_~_~_~_
1982 +March 13, 2021
1983 +)))
1984 +1. (((
1985 +[[All of you know I pointed to 62k in Bitcoin>>https://www.youtube.com/post/Ugw23b7T0puLVWJGHNx4AaABCQ]], and it appears we could see it shortly.
1986 +
1987 +In full honesty, I am not sure where it will go after, and if at all, it reaches 62000.
1988 +
1989 +I promised to tell you when it would go over 20k by Christmas 2020, it did.
1990 +I said it would go to 30k by New Year, it was off by one day.
1991 +I called 52k... it hit it.
1992 +
1993 +I only have 62k remaining on my target list. If it hits it, ICT is out of guesses.
1994 +Yes, guesses. I don't know this asset and I and no one else knows what it is
1995 +going to do. Keep that in mind.
1996 +
1997 +If you hold it, take something off here. 59700 is handsome.
1998 +
1999 +GLGT
2000 +)))
2001 +1. (((
2002 +[[Instead of setting Olympic style trade results up as your goal>>https://www.youtube.com/post/UgzWnRU72q5z9wDCj3Z4AaABCQ]]... first learn to find a bread & butter 10 pip setup that repeats daily.
2003 +
2004 +If you do that and learn money management, the velocity of that same 10 pips easily overtakes 200:1 myths and fables that get tossed around in social media circles.
2005 +
2006 +It is math Folks... nothing more.
2007 +
2008 +While 200:1 is hopefully panning out, for hindsight discussion, equity is flipping over dozens of times with as little as 10 pips... and 1:1... in the hands of the initiated.
2009 +
2010 +Now the ignorance of those in this industry would have you believe that 1:1 requires a high strike rate to be successful. This is a lie that people who do not trade live funds with repeat... and everyone just nods and listens and walks away subscribing to this garbage.
2011 +
2012 +Newsflash... and you might want to sit down for this one Folks....
2013 +
2014 +Every single trade ever taken has to be atleast 1:1 to begin with!
2015 +
2016 +If you argue the position you need 1:1 setups to be high strike rate, this is ignoring the fact that the 1:1 threshold is all trades - all times.
2017 +
2018 +The difference is not overleveraging and taking the 1:1 when given and they happen multiple times per day. Unlike 200, 100, 50, 20, 10:1 gearing on setups.
2019 +
2020 +I can turn 10 pips into whatever I want it to be. You can too. I can turn equity over at a high velocity and do it frequently and consistently. So can you.
2021 +
2022 +Stop buying into bad math and poor pocket logic.
2023 +
2024 +You don't need superhuman R multiples... but I teach that too. ;)
2025 +)))
2026 +1. (((
2027 +[[Think how many times you had a winner while at 10 pips open profit but it returned on your stop or reversed to run over your position that had no stop>>https://www.youtube.com/post/UgzuXIgx9O6Jh1jTNhl4AaABCQ]].
2028 +
2029 +I bet this happens more than 10:1 unfolds for you.
2030 +
2031 +Therein lies the truth.
2032 +
2033 +Take the money and run. Free up margin and do it again. Wash, Rinse... Repeat.
2034 +
2035 +That is trading Folks. Income producing, wealth generating, lifestyle changing cold hard facts.
2036 +
2037 +No ego. No pomp. No drama... just bread & butter setups and sound money management at work.
2038 +
2039 +Try it this week. 10 pips once a day and stop there. 10 pips for 10 pips... 1%. One try per day. Log the results on your demo and I will discuss more Friday night.
2040 +
2041 +Do the lab work first. :)
2042 +)))
2043 +1. (((
2044 +[[Naturally 10 pips is not all you can or will learn to do Folks, let's be honest about this>>https://www.youtube.com/post/UgzWiKe1_ZVw-_agzqJ4AaABCQ]].
2045 +
2046 +However, before you can learn to find, engage consistently and take down 50 pip trades or higher... you need training and trust in less.
2047 +
2048 +There is a myriad of setups in the 10 pip range... this is why Algorithms live there and make... Billions. That is a "B"... in case you missed it.
2049 +
2050 +They are not holding for 200:1 or even 5:1! Just a simple 1:1 in sound logic and it repeats daily, everyday the markets trade.
2051 +
2052 +Relax and realize that you do not need to stress this. You do not need to heap more worry on yourself. Trust the process... it works.
2053 +
2054 +You will be fine... back to studying for you.
2055 +
2056 +Be safe...
2057 +)))
2058 +1. So... how's that trading going?
2059 +1. (((
2060 +[[Imagine, if you will>>https://www.youtube.com/post/UgyVlyB7QbtXt8ZQ74l4AaABCQ]]...
2061 +
2062 +An account that aims for 20:1 setups.
2063 +
2064 +and...
2065 +
2066 +An account that aims for 1:1 setups.
2067 +
2068 +Each requires margin used to assume the position.
2069 +
2070 +The first holds for the duration, however long that will be.
2071 +
2072 +The second has surgical strikes and moves flat.
2073 +
2074 +The 20:1 has no guarantee of reaching 20 R.
2075 +
2076 +Both have the same odds of hitting 1:1.
2077 +
2078 +The new equity allows compounding to take effect. While the same equity and used leverage waits out 20 R, that is not promised to you.
2079 +
2080 +This is Velocity. The rate of turnover in equity.
2081 +
2082 +More on this Friday.
2083 +
2084 +As you were...
2085 +)))
2086 +1. (((
2087 +[[FOMC later today, don't break yourself trying to squeeze blood from a turnip>>https://www.youtube.com/post/UgyXX0EnNxdLnqjUdXt4AaABCQ]].
2088 +
2089 +Observe now, the fat has been taken from the bone.
2090 +
2091 +Be safe...
2092 +)))
2093 +1. (((
2094 +[[Looking around>>https://www.youtube.com/post/UgyyEqKA63MdtoBgRVB4AaABCQ]]...
2095 +
2096 +I read many got smoked yesterday at 2:00 pm.
2097 +
2098 +It pays to read the economic calendar. Be mindful of the events that can provide smoke screens for dramatic repricing... like FOMC.
2099 +
2100 +Learning through pain is never pleasant and you need not endure the lessons that hurt the most.
2101 +
2102 +As you were...
2103 +)))
2104 +1. [[Mentorship rewatch 8:00 mark to the end last night's Daily Log Entry.>>https://www.youtube.com/post/UgwweFYas6CSfg05C0t4AaABCQ]] Listen closely to what I say... then look at your GbpUsd chart. Then listen to it again, to make sure you hear exactly what I say about it being Friday.
1879 1879  1. z
1880 1880  1. z
1881 1881  1. z
... ... @@ -1893,18 +1893,3 @@
1893 1893  1. z
1894 1894  1. z
1895 1895  1. z
1896 -1. z
1897 -1. z
1898 -1. z
1899 -1. z
1900 -1. z
1901 -1. z
1902 -1. z
1903 -1. z
1904 -1. z
1905 -1. z
1906 -1. z
1907 -1. z
1908 -1. z
1909 -1. z
1910 -1. z