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ICT YT - 2020-08-18 - ICT Forex - Institutional Concepts and Market Making Insights In Action.srt

Last modified by Drunk Monkey on 2021-06-12 06:32
1 00:00:16,350 --> 00:00:28,650 ICT: Welcome back, folks. Alright, so I promised you, I would review the trade example I showed on August 17 2020. And it was a 15 minute timeframe. And I'm
2 00:00:28,650 --> 00:00:38,160 going to show you what you did not see in that recording, but what was the logic behind what I was doing. And some of the ideas that led to my decision making
3 00:00:38,160 --> 00:00:52,650 process, not clearly, it's a lot more to it, but this is way more than YouTube should see. Okay, so I do this to prove number one prowess. And also to offer
4 00:00:52,650 --> 00:01:07,500 you the other side of the coin, because YouTube is littered with, quote, unquote, institutional trading, smart money trading. All these things, okay,
5 00:01:07,590 --> 00:01:17,880 that supposedly describe, really just a watered down approach. And rehashing of what I've taught since 1996, but you don't see them actually executing you don't
6 00:01:17,880 --> 00:01:28,050 see them, proving that they can do this. They can talk about it, in hindsight, they can show it on the left side of the chart, but they cannot execute, and
7 00:01:28,050 --> 00:01:48,840 they cannot do it consistently. And in this extreme daily. In 1996, I started pinning, and teaching on a one on one basis, individuals actual market making
8 00:01:48,840 --> 00:01:59,820 concepts. When I say market maker, I'm not talking about the dealer. Okay, because there are people that have gotten a hold of my 1996 lecture notes and
9 00:01:59,820 --> 00:02:11,850 actually added all kinds of indicators, all kinds of conjectures, and nonsense to mask where they got like the basic information from which was mean 1996
10 00:02:11,940 --> 00:02:24,570 because prior to 1996, you can't find it in print. You can't find it in VHS tapes, you can't find it in DVDs. It just didn't exist. And it's upsetting that
11 00:02:24,570 --> 00:02:41,010 may be for some of you. It really actually did. Start with me. Now, I give you these examples here on YouTube, to offset the common snide remarks that people
12 00:02:41,010 --> 00:02:49,380 will say, you never see ICT trading, you never seen execute, you never sees entry, you never seen trading in management. You never seen take profit. You
13 00:02:49,380 --> 00:03:02,310 never seen do any of those types of things. And I can tell you that there are 10s of 1000s that watch me call these moves in detail before they happen. I
14 00:03:02,310 --> 00:03:18,450 outlined the framework structure, the direction where it's drawn to. I do this every single week. Now my mentorship group is closed to new membership. But I
15 00:03:18,450 --> 00:03:31,500 have a large student base there. That will if we were all in the same room right now. And the new folks that are watching this video, were in attendance. And I
16 00:03:31,500 --> 00:03:44,520 said, these are the things that I teach. Now, when I show you this, if it's the first time you're exposed to that, you're going to be floored. It's going to
17 00:03:44,520 --> 00:03:57,870 feel like Hocus Pocus, it's going to feel like hindsight trickery. It's going to feel like lipstick after the fact. Okay, and that's actually a compliment. When
18 00:03:57,870 --> 00:04:14,970 I show people, my actual executions and management of trades. It's unsettling because it proves visibility, understanding and authorship. That's the main
19 00:04:14,970 --> 00:04:27,330 thing. And the only reason why I'm even here still. I'm proving that this stuff comes from me. When you hear traders talk about I'm an algorithmic trader, I
20 00:04:27,330 --> 00:04:36,330 have an algo. Okay, you have an algo, which is a recipe or a process that tells you when to trade when not to trade, when to get out of a trade when to move a
21 00:04:36,330 --> 00:04:50,190 stop, that's fine. But your algo your trading system, your method and your tools and indicators mean nothing, absolutely nothing in the grand scheme of things.
22 00:04:52,080 --> 00:05:05,310 What I see is how the price comes directly from the central bank period what time of day it's going to do it, what day of the week it's going to do it, how
23 00:05:05,310 --> 00:05:15,870 it's going to deliver in about 90% bracket. So, again, if you've been trading for a while and you hear these statistics I'm throwing around, it's going to be
24 00:05:15,870 --> 00:05:17,370 like, Okay, this guy's full of it,
25 00:05:18,360 --> 00:05:30,210 I get it, I understand. But again, I'm not going to convince every single one of you. And it's up to you to see whether or not there's any validity to this,
26 00:05:30,240 --> 00:05:38,430 because I'm actually showing you executions, I'm showing you management, I'm showing you now behind the scenes behind the curtain and pulling it back and
27 00:05:38,430 --> 00:05:54,570 showing you one, daily candle. One. Now, I can sit down and do this every single day, every single day. And if I do it, I'm gonna have losses. But if I cherry
28 00:05:54,570 --> 00:06:07,140 pick, the days that have all the signatures that I look for, I'm in a 90% bracket, I'm not trying to treat every single day. But I can see what's going to
29 00:06:07,140 --> 00:06:20,730 happen 90% of time before it happens. I let a lot of these types of trading days go by, because I have other things I want to do. As a developing student, or if
30 00:06:20,730 --> 00:06:29,700 you're new to trading, you're gonna see this video, and you're gonna say, I want to do this every single day. And I'm going to tell you right away, you are
31 00:06:29,700 --> 00:06:38,970 decades away from how to do this every single day, you just not going to be able to do it. Not because I'm superhuman, it's just that you have so many things
32 00:06:38,970 --> 00:06:39,510 that you have to
33 00:06:39,959 --> 00:06:40,799 work through
34 00:06:41,370 --> 00:06:50,580 on an individual basis, that you're going to self destruct, you're not going to have the confidence to stay with it to learn it. And there are a lot of moving
35 00:06:50,580 --> 00:07:05,430 parts. But in this YouTube channel, I have done my best to provide all of you that want to just spend a couple minutes each day here, how to go in and fleece
36 00:07:05,460 --> 00:07:15,930 this market. And you can do it a few times a week and absolutely replace your job. If you'd lost your job recently. You know, I know a lot of you folks that
37 00:07:15,990 --> 00:07:30,030 have, it's going to get worse. And you need to have a skill set to be able to find a way to earn an income. Now, you're going to lose money doing this. But I
38 00:07:30,030 --> 00:07:43,680 firmly believe that if you learn this skill set, it's recession proof. It's bomb proof. It doesn't matter who's in office, you can do this anywhere, as long as
39 00:07:43,680 --> 00:07:55,920 you have an internet connection. If you have a very low hanging fruit approach, and it's exactly how I teach it, you can make this your individual business
40 00:07:55,920 --> 00:08:11,010 model. But you have to learn a lot. You had to sacrifice a lot to get there. So hopefully, with that in mind, that's why I'm showing you this. And that's why
41 00:08:11,010 --> 00:08:24,780 I'm showing you these examples. Number one to prove that I can trade. It does work. And there's nothing like it. So when you look at this chart here, it looks
42 00:08:25,020 --> 00:08:35,160 if you're new, completely chaotic. It has no structure, it has no rhyme and reason as to why it's doing what it's doing. Why did it go up here? Why did it
43 00:08:35,160 --> 00:08:44,430 go down there? Why did it turn around there? Why to stay sideways for a little while, where it did. And ultimately, when it went up or down? What were the
44 00:08:44,430 --> 00:09:00,810 catalyst for that 1992 I had all those same feelings to fast forward to 2020. That'd be 28 years, November 5 of this year, which we're not too far from. And I
45 00:09:00,810 --> 00:09:12,300 can tell you that when I look at candles now, on a price chart, I see a whole lot more in there like well read novels. I know the characters. I know the plot.
46 00:09:12,630 --> 00:09:25,140 I know the plot twists, and I know how it ends. Imagine reading a book 200 300 1000 times you know what's going to happen before you get to the next
47 00:09:25,140 --> 00:09:37,380 sentence. The next paragraph, the next chapter, you know it very well. If someone were to read a paragraph out of that novel, just a paragraph and tell
48 00:09:37,380 --> 00:09:51,870 you nothing about it right away, you would know. That's that book that I know and this is the author that's what these candlesticks Tell me. It's a skill set
49 00:09:52,140 --> 00:10:02,100 that is transferable. You can learn it, but you have to submit to a lot of training and a lot of time and for some of you Actually, the majority of you, if
50 00:10:02,100 --> 00:10:12,060 I'm going to be honest, majority of you aren't going to be willing to submit to the requirements to learn this. Because there's a lot of moving parts. But you
51 00:10:12,060 --> 00:10:23,640 don't need every single moving part, you need certain components that are generic. That means time and price and profiling. When you understand those
52 00:10:23,640 --> 00:10:32,550 components, and you match it with your unique personality, because all of us have a unique personality, some of us are very quick thinkers, others are
53 00:10:33,000 --> 00:10:42,720 lethargic, and you procrastinate a lot. It doesn't mean that one individual is better than another or one personality is better than another, it just means
54 00:10:42,720 --> 00:10:50,280 that there are specific skill sets in trading that you're going to have to align yourself with, to match that personality. Otherwise, you're going to have a
55 00:10:50,280 --> 00:11:00,750 whole lot of wasted time and money, and frustration, I want you to take a look at this individual segment of price action. Now, I'm showing you a little bit of
56 00:11:02,460 --> 00:11:13,950 price in terms of a five minute chart, but I promise you, this is all you need. You only need one of these per week. And you don't need to have a job. Now that
57 00:11:13,980 --> 00:11:26,700 again, when you're new, or if you're very critical, and you're thinking it's gonna sound like this guy selling pipe dreams. No, I'm saying that it's
58 00:11:26,700 --> 00:11:34,590 possible, I'm not promising everyone's gonna be able to do it. But this is what I teach. And I'm able to do this. Now just because I'm able to do it doesn't
59 00:11:34,590 --> 00:11:35,700 mean you're able to do it.
60 00:11:37,290 --> 00:11:48,480 But I want you to think about what you see here in price. And if you're new, again, I'm going to walk you through this. And explain how much detail is here.
61 00:11:48,990 --> 00:12:00,030 As much as I'm going to show on YouTube, let's put it that way. But if you look at price from the 16th of August, and we transition from the 16th to the 17th.
62 00:12:00,900 --> 00:12:19,320 And we trade all the way into the 118 80 level. That 118 at level and the low formed at 430. On the 17th of August, at around 118 28 ish, something like that.
63 00:12:20,400 --> 00:12:36,060 Let's see what that low was. Yeah, 128. So from this low to this high, if I were to tell you that that low in that high was pre determined before the trading day
64 00:12:36,060 --> 00:12:48,570 even began. Most of you would shake your head say there's no way the Forex markets too big to be manipulated, it's too big to be controlled. That's what
65 00:12:48,570 --> 00:13:02,760 they'll tell you. And I'm here to tell you, that's not true. I want you to think for a moment. Imagine the banks, not your mom and pop bank, not where you have
66 00:13:02,760 --> 00:13:22,770 your auto loan or your mortgage for your home. I'm talking about the central banks, Federal Reserve, Bank of England, Bank of Japan, Bank of Australia. These
67 00:13:22,800 --> 00:13:40,290 store houses are in control of their commodity, their commodities price, the currency of their economy is their commodity. People tend to forget that. Since
68 00:13:40,290 --> 00:13:50,550 it's their currency, it's their commodity, they are in control of the price. If they want the price to be lower, they'll reprice it lower. If they want the
69 00:13:50,550 --> 00:14:00,990 price higher, they'll reprice it higher. They're not in the business of asking permission if it needs to be done on a slow basis or sudden basis. If you think
70 00:14:00,990 --> 00:14:12,060 about what we've seen in recent years with the euro and swissy, where it was the pegged. Go back and look at your charts and you'll see that central banks can do
71 00:14:12,060 --> 00:14:25,740 whatever they want to do. No, one police's, the central banks. No one. No one audits them. No one sets the rules and says you can and cannot do this. This is
72 00:14:25,740 --> 00:14:37,230 their playground. This is their storefront. So you have to submit to their roles and accept the punishment when you are wrong. Most of you aren't in a position
73 00:14:37,230 --> 00:14:46,500 to be able to do that. Because you'd like to see moving average crossovers overbought and oversold indicators, harmonic patterns, supply and demand zones,
74 00:14:46,710 --> 00:15:08,550 Elliot waves all these things the central bank has absolutely no respect for zero none trend lines joke Right away, I've sent some of you packing. And again,
75 00:15:08,820 --> 00:15:19,350 that's what I want. I want to weed through the individuals that really aren't here to learn. Feel like what you heard, obviously, you can hit that thumbs down
76 00:15:19,350 --> 00:15:30,030 button, it ain't gonna matter, because it doesn't change the truth. But if you look at this price action here, I'm going to toggle the annotations, and want to
77 00:15:30,030 --> 00:15:42,810 walk you through this individual day on the 17th. I want you to watch this portion. And then when you're done, go back and watch the recording that I did
78 00:15:42,840 --> 00:15:54,330 on the trade example for the 17th of August in the euro dollar. Now in that chart that you're watching tick and form. In that trade example, it's a 15
79 00:15:54,330 --> 00:16:07,920 minute timeframe. This chart, as you can see, here is a five minute chart. What I was trading was this five minute chart, but I was showing the candlesticks
80 00:16:07,920 --> 00:16:20,700 painting on a 15 minute timeframe. So on another screen, everything that I'm going to show you here is salient as to why I was doing what I was doing on that
81 00:16:20,700 --> 00:16:36,540 15 minute timeframe. The structure of the day, was seen on that 15 minute timeframe. The details are what's going to be shown here on this five minute
82 00:16:36,540 --> 00:16:36,870 chart.
83 00:16:38,309 --> 00:16:47,399 So with that said, let me add the annotations. And we'll start walking through this. All we're going to cover here are actual real market making concepts and
84 00:16:47,429 --> 00:16:54,749 actual institutional insights from its source, namely me. Now when I say that I'm not saying institutional trading started with me, okay, it's not what I'm
85 00:16:54,749 --> 00:17:06,749 saying. I'm saying that all the ideas around understanding how a retail trader can get in alignment with institutional trading that started with me, that was
86 00:17:06,749 --> 00:17:18,509 in 1996. Nothing existed in print, nothing existed in DVD or VHS because that's we had back then. blu ray wasn't in existence yet. And no one was doing seminars
87 00:17:18,539 --> 00:17:29,219 or anything like that teaching what I have introduced to the trading community, and I can do what I claim. I can also sit in a court of law and do what you see
88 00:17:29,219 --> 00:17:39,299 me do on the 17th. And I can do that daily. That's why I'm able to do what I'm doing. That's why I make boastful claims. That's why I went on Instagram and
89 00:17:39,299 --> 00:17:48,449 challenged every single guru over there, and said, if you can prove that you made $100,000 in trading in 2019. after taxes, I will pay you $1 million real
90 00:17:48,449 --> 00:17:59,339 money real currency I even showed the bank account. Not one person, not one could do it. So the question is this, if everyone knows institutional trading
91 00:17:59,339 --> 00:18:10,319 and smart money concepts, why is it that none of them could do it? None of them show executions, management of a trade none of them. It's easy. I did it. I'm
92 00:18:10,319 --> 00:18:23,039 going to do it every single week, just to prove I can and you can learn from these examples. But when you look at the idea of institutional trading, okay,
93 00:18:23,039 --> 00:18:34,679 there is all together something different from just using buzzwords, and then having the ability to do it. And that's what's lacking on YouTube. That's what's
94 00:18:34,679 --> 00:18:42,749 lacking on Instagram. All these individuals that are out there pretending are actually doing harm not only to the viewers of their content, because it's
95 00:18:42,749 --> 00:18:53,459 really watered down versions of my stuff, or taught incorrectly. And that's harmful. Not only is it harmful to you, if you're doing it because by you trying
96 00:18:53,459 --> 00:19:04,589 to teach something you don't really understand or can do, you are subconsciously retaining the incorrect perception of what it is that I actually teach and do.
97 00:19:05,699 --> 00:19:14,819 So it's not a good thing to pretend you know how to do this and teach or even collect money from people for doing it, because that's unethical, and, frankly,
98 00:19:14,849 --> 00:19:28,439 fraud. So I say that because I want you all as a community on YouTube to start holding these individuals a little bit more accountable. Because if they can say
99 00:19:28,469 --> 00:19:38,519 they know how to do it, then they'll be able to prove it publicly. It costs me no time, no money. It was no skin off my back to be able to do this example,
100 00:19:38,549 --> 00:19:47,609 just like it was no skin off my back. Last week to do it. It was no real effort on my part, to run up the small accounts that you've seen me do in the past. I
101 00:19:47,609 --> 00:19:58,259 did it on Twitter, I did it on Instagram, and no one was able to do similar. I was accused of using an empty for rented server. Well, here's what everybody
102 00:19:58,259 --> 00:20:08,639 uses. Now the industry standard trading You know, I'm here. And what I'm outlining here is the real brass tacks as to what I was doing on the 17th of
103 00:20:08,639 --> 00:20:22,349 August. So, in case you're misunderstanding me, I'm not here beating my chest. Okay, I really introduced myself openly in 2010 on baby pips, I stepped out and
104 00:20:22,349 --> 00:20:39,659 I said, My real name is Michael Joe Huddleston. I have been trading at that time, 18 years. Everything that I did, was with the intent of teaching the
105 00:20:39,659 --> 00:20:49,199 trading community, what really goes on and how not to get hurt, not promising you to get rich, but how not to get hurt, because the industry is plagued with
106 00:20:49,739 --> 00:21:03,299 misinformation, liars, frauds, pretenders, and they cannot prove they can do what they claim they can do. So I used to make fun of individuals that used to
107 00:21:03,449 --> 00:21:12,059 say you don't ever prove you can trade. And it was fun for me, because I know, I can. And I know that these individuals that are asking me to do all the time,
108 00:21:12,449 --> 00:21:25,199 they're not going to be convinced even if I do this every single day, they're not going to be convinced. So there's no point. But there is a time when real
109 00:21:25,199 --> 00:21:34,739 students that have an interest in learning how to do this, they need to see evidence that number one, it works. Number one, it is as precise as I say it is.
110 00:21:35,099 --> 00:21:37,139 And that yes, your teacher can do this.
111 00:21:39,420 --> 00:21:52,860 So I want you to have a different perspective. Not only me, but anyone else out there that claims to understand how to do this, they should be able to show you,
112 00:21:53,370 --> 00:22:04,410 okay, and when I say that I'm not saying a my effects book. Because you can set up a mp4 account with a rented server, make it look like it's a real account,
113 00:22:04,980 --> 00:22:21,180 and then link it to my effects book, and it would look 100% legit. But it's not. So I'm here, working within the capacity of educating, giving illustrative
114 00:22:21,750 --> 00:22:32,550 examples, but doing it in a way where I'm not exposing myself to liability. So every example you see me showing you on trading view, when you watch the trade
115 00:22:32,550 --> 00:22:43,770 examples, I'm actually using the paper trading application on trading view, because everyone will understand that that example was a paper trade, it was not
116 00:22:43,770 --> 00:22:53,700 taken with live funds. And it's also not indicative of future results. So I want you to understand that be very, very clear. And where we're going with this,
117 00:22:53,730 --> 00:23:02,280 because I'm not trying to entice you to believe that you should go out there and start trading with live funds, I absolutely am not a fan of that. When you're
118 00:23:02,490 --> 00:23:12,210 when you're a student, you're minimum a year away. Period, if this is your first day being exposed to learning how to trade, and real market maker concepts and
119 00:23:12,210 --> 00:23:22,170 institutional trading. You're not trading with live funds until at least a year from now. And that's your best case scenario. And right away, most of you are
120 00:23:22,170 --> 00:23:29,310 signing off right there. You might watch the video still, but you're signing off psychologically and emotionally. You're no longer committed, because that's too
121 00:23:29,310 --> 00:23:38,190 much time for you. And I can tell you right now, if that's how you thinking, you're not going to make it here. Not here with me, you're not gonna make it in
122 00:23:38,190 --> 00:23:49,860 the industry. Because you're expecting Fast Money and Fast Money doesn't exist on longevity, not not in trading, it doesn't. So have that in mind when we go
123 00:23:49,860 --> 00:24:00,510 through this. And like I said, I want you to appreciate the fact that I'm willing to do this, because I don't have to be here. I don't have to do this for
124 00:24:00,510 --> 00:24:10,050 free. But I'm doing it to be a contrast to those individuals that are on YouTube that claim they can do something that's really not true. They can't trade it,
125 00:24:10,080 --> 00:24:17,040 they can't do it. They don't know anything that's going to happen before it happens. They only talk about in hindsight. So proving authorship is what I'm
126 00:24:17,040 --> 00:24:28,530 here doing. This is mine. And I understand it because I authored it. I understand the algorithm, because I authored it, I understand what price is
127 00:24:28,530 --> 00:24:39,420 going to do because I'm three decades almost into it with all that said and probably bored the socks off you. I won't need to say it again because it's in
128 00:24:39,420 --> 00:24:49,260 this YouTube video. So if you ever see individuals that are claiming institutional this institutional that smart money, this smart money that SMT
129 00:24:49,950 --> 00:24:57,870 relative equal highs, breakers, bullish order blocks, bearish order blocks, mitigation blocks, these are all buzzwords you'll know my students by how they
130 00:24:57,870 --> 00:25:08,490 talk the things that they talk kabana charts, you'll know they spent time with me, no one talks like us, because I created that language. And there's been
131 00:25:08,490 --> 00:25:18,780 people out there that's been trying so very hard to come up with different terms and different ways of describing what I have introduced. And they can't, because
132 00:25:18,780 --> 00:25:27,030 I'm not done teaching it. And you have no idea just because you think you understand an order block doesn't mean, you understand order blocks. You don't,
133 00:25:27,600 --> 00:25:37,080 there's so much more to them. So I want you understand that there's many more rabbit trails ahead, that I can still go through on my YouTube channel, and
134 00:25:37,080 --> 00:25:40,560 still have a ton of content with my private group in the mentorship.
135 00:25:41,850 --> 00:25:51,510 If you are interested, this way I can kind of like, hold back, the number of people are sending emails cuz I'm getting inundated with them now. I will have
136 00:25:51,540 --> 00:26:07,590 one final enrollment for my mentorship in 2021, the enrollment process will begin very short window this time, January 3, to January 10 2021. Alright, so I
137 00:26:07,590 --> 00:26:16,560 will put a comment on the YouTube channel on the community tab of my YouTube channel. And it'll say enrollments are open at that time, it will be a different
138 00:26:16,560 --> 00:26:24,000 email address, not inner circle trader@gmail.com, it'll be a different one. Because I don't want you sending me the requests to join now because I get too
139 00:26:24,000 --> 00:26:35,070 many emails as it is. But around the week of Christmas, I will outpost the invitation with the email address that will send the interest in learning. If
140 00:26:35,070 --> 00:26:42,900 you want to join a mentorship at that time, that will be your last one because I'm ending the teachings, December 2021, I will have exhausted everything I
141 00:26:42,900 --> 00:26:51,870 wanted to teach at that time, the mentorship will still be open, I still will be interacting with the students. But when a more interactive basis where it's I'm
142 00:26:51,870 --> 00:27:00,540 not so interactive right now. It's just you watch what videos I have, and in what lessons and commentaries are performing that particular week. But other
143 00:27:00,540 --> 00:27:09,720 than that word is going to have a more intimate setting. Whereas it's not so intimate now, because right now I have people in the mentorship at different
144 00:27:09,720 --> 00:27:22,110 stages of their development. So again, sounds like a sales pitch. It's really just to help me manage my emails, and also answer a blanket statement, but
145 00:27:22,200 --> 00:27:30,930 you're not gonna be able to get in the mentorship. Yes, you get one more opportunity. And then after that we're done. Alright, so let's take a look at
146 00:27:30,930 --> 00:27:44,730 the details here. midnight on the 17th. Prior to that, we have previous day's low. So this is the lowest trading point on the 16th. And we transitioned into
147 00:27:45,060 --> 00:28:00,120 the New York Midnight Hour, that this moment, this is when all the banks come online and reset and peg, the daily high in the low, whether you want to believe
148 00:28:00,120 --> 00:28:18,060 it or not. That's really what goes on. At this moment, the highest high and lowest low of the next 24 hours is going to be pre determined. Now prior to me
149 00:28:18,060 --> 00:28:32,220 releasing evidence to this, no one believed that or even knew it was possible. But I prove it. And I have skills that will help you unlock that. It won't be an
150 00:28:32,220 --> 00:28:46,200 everyday occurrence. Because everyday occurrences Enigma, and I don't teach that. That's for me in my family. But what I teach here, and much more deeper
151 00:28:46,200 --> 00:28:54,360 understanding of what it is I'm showing you here. That is mentorship. mentorship is not a bunch of videos that have been made already. And you know everything,
152 00:28:54,450 --> 00:29:02,820 because if that's true, everybody that's ever seen those videos will would be able to do what I'm doing. And that's not true, it was just a way for me to get
153 00:29:02,820 --> 00:29:12,150 everyone on the same page. So you may be familiar with optimal trade entries, you may be familiar with the term of a bullish or bearish breaker, or mitigation
154 00:29:12,240 --> 00:29:24,960 or vacuum block or fair value gap. All those things, okay. They're all trademarks of mine, the highlighting a specific component to price, how they all
155 00:29:24,960 --> 00:29:37,110 fit together. That's mentorship. And no one has all that no one not one charter member has that. Not one individual person, but me. So it's very important. You
156 00:29:37,110 --> 00:29:45,090 understand a lot of people out there trying to rock people sell them that they have mentorship, they don't have they have videos, but those videos are
157 00:29:45,120 --> 00:29:53,370 incomplete. Without me, I'm the decoder ring. I didn't just come up with mentorship and say, Oh, come on, make some videos. And it's a cookie cutter
158 00:29:53,370 --> 00:30:03,660 approach to that. Now you're gonna need to have me decipher all this stuff. And that's what I'm gonna be spending the rest of This year and 2021 doing, and then
159 00:30:03,660 --> 00:30:17,250 at that point, I hope I get my wife back because I'm spending way too much time doing this. Knowing that the market has a predetermine high and low, if you
160 00:30:17,250 --> 00:30:30,690 don't believe that just for a moment, just suspend that disbelief, just for the sake of our discussion. Imagine if it were true, then there should be things
161 00:30:30,900 --> 00:30:42,180 that repeat over and over again, that would lead to the mechanism for illustrate evidence, how that process is done.
162 00:30:45,060 --> 00:30:56,640 That's what I figured out in the 90s. I want you to see some of the components here. And I'm going to show you one daily schematic, this is what one daily
163 00:30:56,640 --> 00:31:10,500 range in my understanding of how prices booked and delivered algorithmically it's not randomness, it's not harmonic, it's not Elliott Wave, it's not supply
164 00:31:10,500 --> 00:31:18,030 and demand, okay, I want you to write this is in your books, kb. If you are here, and you're serious about learning, you should be pausing the video
165 00:31:18,030 --> 00:31:27,240 periodically and writing down the things I'm saying. If you're not doing that you're not learning, I promise you you're not going to learn. Seeing it on my
166 00:31:27,240 --> 00:31:35,100 chart is not the same as knowing it. Because you're going to need to go into your own chart, and dress your chart just like this. And and put it into your
167 00:31:35,100 --> 00:31:53,700 study journal. And it'll mean much more to you next week. a month from now a year from now, because it's the truth. But if you can dispel your disbelief. And
168 00:31:54,270 --> 00:32:06,330 except for the sake of this discussion, that the high in the low is pre determined. Imagine what opportunities open up to you. It's not a lottery
169 00:32:06,330 --> 00:32:20,670 anymore, is it? It's something that repeats over and over and over again. Now there's going to be subtle nuances that shift in and out, it may look a little
170 00:32:20,670 --> 00:32:32,490 different. But generally, the underpinnings are the same. On the 17th of August, the market opens here and midnight continues into a small consolidation trades
171 00:32:32,490 --> 00:32:48,480 just slightly above the 16th high and then trades aggressively lower down into 4:30am New York time it runs the previous day's low Okay, resting below this is
172 00:32:48,480 --> 00:32:59,520 sell side liquidity. What is sell side liquidity it's sell stops, orders to sell short on a break below that level. Once it goes below that it purges that
173 00:32:59,520 --> 00:33:10,500 liquidity. So sellside liquidity now has been purged here. For the sake of this discussion, we're going to assume that you would be viewing the market for
174 00:33:10,500 --> 00:33:19,830 eurodollar to be bullish. In my personal and private group. We were bullish, we've been looking for higher prices, I prompted everyone we should be seeing
175 00:33:19,830 --> 00:33:32,430 higher prices not just eating at. But for the sake of this individual daily candle. I want to illustrate how I was operating within the previous low on the
176 00:33:32,430 --> 00:33:49,050 16th just swept. When that is swept and the daily bias is bullish. This is no longer just a sweeping of stops. It's a purging of stops. Because sweeping stops
177 00:33:49,560 --> 00:34:05,580 can still be traded lower. In this example here, much in the same way this high here, it swept and it goes lower. But the daily candle is pre determined to be
178 00:34:05,580 --> 00:34:15,030 bullish. I'm not going to teach you that here. And already your some of your hissing and moaning about that. If you look at your daily chart, you can clearly
179 00:34:15,030 --> 00:34:28,260 see that the 17th and even the 18th are bullish days or reasonably expected to be bullish days. So we're not looking at this down move and trying to short and
180 00:34:28,260 --> 00:34:40,560 try to hold for down close on the daily candle we're looking for an opportunity to go higher. So before it goes higher, it takes out the low here. It trades
181 00:34:40,560 --> 00:34:49,710 down below that and because it sweeps that low and the bias is bullish. This is now a purging of sell side liquidity. So in your notes you want to make sure you
182 00:34:49,710 --> 00:35:04,500 have stopped sweeps above old high or below an old low. They can still be traded through at a later time. A purging of liquidity is in line with the daily bias
183 00:35:04,530 --> 00:35:18,210 daily bias for this day is bullish. Okay. So we trade below the previous low and aggressively moves higher, comes back down in trades into the previous day's low
184 00:35:18,210 --> 00:35:30,420 again and into a bullish order block, which is this down close candle right here. Okay, that Black Candle right there, it trades down into it. And as it
185 00:35:30,420 --> 00:35:39,540 trades down into it, you can see me start the recording. And I go long on that basis, because you don't see the annotations I'm showing you here. But on that
186 00:35:39,540 --> 00:35:40,440 15 minute chart.
187 00:35:41,700 --> 00:35:51,420 This low, I was trusting as the low of the day, and it was the low formed in London. So I'm working with a bias that's bullish. I'm trusting the fact that
188 00:35:51,420 --> 00:35:59,280 the London session created the low of the day, I'm not scared of buying when this starts dropping down. I'm not fearful that it's going to go lower than this
189 00:35:59,280 --> 00:36:12,570 low. I'm trusting the signatures that the interbank algorithm provides me. Because the algorithm that books price every single day is not changing its
190 00:36:12,570 --> 00:36:29,400 state, its mode of delivery is always the same. It's reaching for liquidity. It's moving to a premium, it's moving to a discount, back and forth. All on a
191 00:36:29,400 --> 00:36:42,600 time delivery process. Everything is time. And price. Nothing happens in the markets. That is not directly linked to a specific time of the day, or day of
192 00:36:42,600 --> 00:37:00,240 the week. The magnitude, okay, of how big these moves occur, are based on the price level. So in the element of time and price, you anticipate moves relative
193 00:37:00,240 --> 00:37:12,510 to time, the magnitude of the move is linked directly to the price level. So the blending of both time and price gives you visibility. That's what I'm going to
194 00:37:12,510 --> 00:37:22,080 showcase here now. We trade down to the previous day's low again, rate below these relative equal lows, we have sell side liquidity, it's purged, it's not
195 00:37:22,080 --> 00:37:35,400 just swept, it's purged. Why is it purged? Because the daily bias is bullish. So any run on sell stops or sell side liquidity, that is a purging of liquidity.
196 00:37:37,140 --> 00:37:47,280 Once this happens, it should aggressively move higher. It breaks above these highs trades up to this high here. And now at this time of the day. This is the
197 00:37:47,280 --> 00:37:55,350 new york session. This is the session that I taught on the YouTube channel with the recent optimal trade entry pattern recognition series. Okay, so I gave you a
198 00:37:55,350 --> 00:38:09,030 specific element of time between 830 in the morning and 11. If you look at the beginning of this line here, it's 830 at the end 11. Okay, and it's all New York
199 00:38:09,030 --> 00:38:21,360 time. So if you are setting your trading view time to this, try not to use your local, geographic time, like your local, whatever it is time wise, where you
200 00:38:21,360 --> 00:38:31,140 live and reside. Don't set your trading view to that. They don't don't do that. You want to set it to this, okay, New York Times you do that everything in your
201 00:38:31,140 --> 00:38:43,140 charts will be in alignment with how I teach and how the actual interbank algorithm delivers. Okay, so IP to the interbank price delivery algorithm. That
202 00:38:43,140 --> 00:38:53,670 algorithm operates on New York time. If you're not a fan of America, it doesn't matter. It is what it is. All of them work on that same element of time.
203 00:38:53,970 --> 00:39:07,140 Alright, so between 830 and 11, that's your New York session. And we have a high here and prior that high we have this low. So this low and this high. This is
204 00:39:07,140 --> 00:39:17,850 your interbank dealing range, your interbank dealing range high here, and your interbank dealing range low here. Now, why am I using this low and not say this
205 00:39:17,850 --> 00:39:32,190 low? Because once we start the eight o'clock time window, all of the pre news events that occurred generally at 830 in the morning, all of those instruments
206 00:39:32,220 --> 00:39:45,990 start calibrating and anticipating price runs on the 830 news release. And I'll say that again, eight o'clock in the morning to 830 in that 30 minute window,
207 00:39:47,280 --> 00:39:56,640 every instrument that's trading at that time, they all start calibrating, and what do I mean by that? They're setting up parameters that would, if it goes
208 00:39:56,640 --> 00:40:03,450 above a certain high if it goes below a certain low, there's going to be liquidity above that, and how that works within the narrative of the daily
209 00:40:03,450 --> 00:40:13,500 range. And that schematic which is what we're outlining here. Again, in this idea, just think it's bullish. Now, if you're just watching this video, and you
210 00:40:13,500 --> 00:40:22,260 didn't watch the video prior to this one, which was filmed and posted on August 17, then this seems like a whole lot of hindsight and I understand it, I
211 00:40:22,260 --> 00:40:32,010 probably would think the same thing, but I'm actually trading it. Okay, you can see me executing and managing via trading view. Alright. Everything that's here
212 00:40:32,040 --> 00:40:40,830 is what was going on in my mind, what things I was looking at what I was measuring how I was working within the daily range, all these components is what
213 00:40:40,830 --> 00:40:52,050 I used. So we have a dealing range low here, this is the lowest low here 810. So at eight o'clock, eight o'clock, that's this candle here, it's low is only here.
214 00:40:53,070 --> 00:41:02,250 810 we have this low. Okay, so you have to use that low for your dealing range low. So the interbank dealing range lows this low and interbank dealing range
215 00:41:02,250 --> 00:41:13,320 highs here. So this is the range that sets the stage for your new york session. Now, enter my ICT optimal trade entry pattern recognition series. If you're
216 00:41:13,320 --> 00:41:20,850 bullish, this is your range you're working within. So from this low to this high, you're waiting for it to retrace down into an optimal trade entry, which
217 00:41:20,850 --> 00:41:30,450 is the 60 to 70% retracement level. And that's what I'm highlighting here. Now you can put your own fib on your own chart, relative to this candles low and
218 00:41:30,450 --> 00:41:37,110 this candle is high. And you'll see this is exactly an optimal trade entry. The only reason why I haven't like here is I want the chart to be a little bit less
219 00:41:37,110 --> 00:41:46,110 cluttered. Now in a moment, I'm going to add a fib just so you can see some measurements and how some market symmetry still exists in here. But you don't
220 00:41:46,110 --> 00:41:56,430 need the fib. Okay, the fib is just a way of providing a framework for new students, I don't sit down and put a Fibonacci on a chart before I take a trade.
221 00:41:56,850 --> 00:42:07,020 I use it to help illustrate to my students a range that is a premium, or a discount. And simply mean, are we overbought, oversold without the use of an
222 00:42:07,020 --> 00:42:17,760 overbought oversold indicator, there is no indicators on my charts, all of these boxes and these annotations, you can actually download these from my website,
223 00:42:18,090 --> 00:42:27,420 psych. You wanted it to be like that, you know, these are all hand drawn. I'm old school, I don't really believe in a clicking and populate your chart with
224 00:42:27,420 --> 00:42:36,270 indicators and overlays. I don't I don't like that. When I'm dressed my charts up, it's more meaningful to me. Because it resonates more with me I connect
225 00:42:36,270 --> 00:42:43,830 closer to the market when I do those types of things. And if you just want to press a button and populate a chart with all kinds of stuff, you might think to
226 00:42:43,830 --> 00:42:51,720 other people looking at you, you might all be a nice, he's a he or she's high tech, you're really not paying that much attention to it, they become more of a
227 00:42:51,720 --> 00:43:01,140 distraction versus simply adding an annotation to the chart that's meaningful. So I'm annotating a time window. And in my mind when I'm watching the chart, I'm
228 00:43:01,140 --> 00:43:12,840 not looking at the chart with these annotation. I'm doing this for teaching purposes. I know what time I'm looking for setup. But this daily range low is
229 00:43:13,050 --> 00:43:23,010 outside of the New York 830 to 11 o'clock, that's fine, it does not matter because the element of time is eight to 830 at eight o'clock. All the
230 00:43:23,010 --> 00:43:32,430 calibrations start for that 830 in the morning news embargo. When that news embargo lifts, all the news starts flooding the marketplace. The algorithms are
231 00:43:32,430 --> 00:43:45,120 going to start firing. This is your low, this is your high and we start receding down into that range that ranges the high here and the low here. trades down
232 00:43:45,120 --> 00:43:58,200 into optimal trade entry. And inside of this last up close candle prior to this low. So you have relatively equal lows here and a high prior to that low being
233 00:43:58,200 --> 00:44:09,330 ran. So this low that took out liquidity here. This is a bullish breaker, this candle right here, that's what I'm annotating there. So take that range out in
234 00:44:09,330 --> 00:44:21,300 time and extend it in time. So we're trading down into that breaker into this dealing range into an optimal trade entry inside of a day that's bullish with
235 00:44:21,840 --> 00:44:32,130 relative equal highs that have yet to be traded to. Now, this run above is not a purging of buyside liquidity. Why?
236 00:44:33,510 --> 00:44:43,770 Because the daily candle is expected to be bullish. So this is a sweeping on stops. Notice how the algorithm creates a high and then another high so we have
237 00:44:43,770 --> 00:44:52,590 relatively equal highs. They're going to want to come back up there and finish that unfinished business or Candyland. So traders are gonna look at that as what
238 00:44:52,890 --> 00:45:01,980 retail resistance as a double top. Maybe you can get short and hold for the lows down here to be taken out because guess what supports down here. So it's going
239 00:45:01,980 --> 00:45:12,030 to trade down there, because that's how trading ranges work. And I fell for all that stuff too. Don't, don't get upset with me. I believe that nonsense. The run
240 00:45:12,030 --> 00:45:23,160 to the 80 level, this is an institutional price level. What does that mean? You're at level, your point 50 level, your point, 20 level and your 00 levels
241 00:45:23,520 --> 00:45:30,930 are all institutional levels. Now, they're not the only institutional levels, but predominantly, they're the ones. If you have them on your chart, you're
242 00:45:30,930 --> 00:45:45,360 going to see key turning points and targets being traded to at these levels. Now, above these relative equal highs if we're bullish, and we are reaching
243 00:45:45,360 --> 00:45:56,460 above these equal highs, if you look for an institutional price level, a 50 level or an 80 level, or 00 level, if you use that as a target, many times
244 00:45:56,460 --> 00:46:08,010 you're going to get really, really close to the daily high in the low. Again, it's not exactly at 80. It's not exactly at 50. It's not exactly a 20. But they
245 00:46:08,010 --> 00:46:20,850 are your general rules of thumb. As you can see, the high on this candle, we trade to a high of 118 80 and nine pipettes. And then this candle here. Again,
246 00:46:20,970 --> 00:46:33,720 118 89 pipettes. So it just went a little bit above 1880, but not by much. And then we had a nice reaction here that retraces down into the price run here.
247 00:46:34,470 --> 00:46:45,180 Now, I'm not going to cover the 18th. Because that's not what I promised. But I promised that we would cover the 17th. Now if we're bullish, we have a price
248 00:46:45,180 --> 00:46:55,320 structure for this low, the price high here prior to this rundown and clearing sell side liquidity, trading back to a bullish order block. Why didn't go below
249 00:46:55,320 --> 00:47:03,060 this low because we've already taken sell side liquidity over here. So I'm not fearful of being a buyer here and afraid that it's going to take out this low
250 00:47:03,060 --> 00:47:10,890 and get my stop. Notice also, I'm not in a hurry to raise my stop either. Because what I'm doing is I'm waiting for price to show me Who wants to go
251 00:47:10,890 --> 00:47:19,830 higher. And as long as it's doing that, and prices booking higher, the algorithm is doing what I think it's going to do. So I'm in alignment, I'm not offside,
252 00:47:20,160 --> 00:47:30,870 I'm in alignment with the interbank price delivery algorithm. As it trades down to this level here, I'm waiting for it this launch, watch the recording again,
253 00:47:30,900 --> 00:47:41,580 on the 15 minute timeframe, I draw out another green box. Because in that green box, this is what I'm looking at. And I absolutely nail it, and it runs, sends
254 00:47:41,580 --> 00:47:50,280 it up into the 118 80. Now what was weird was, if you watch the recording, it was trading at 18 at a couple times. And for whatever reason tradingview
255 00:47:50,280 --> 00:47:59,490 wouldn't let me out with that woman order. So I manually closed and I'll show you the executions in a moment. But I want you to take a look at the price
256 00:47:59,490 --> 00:48:10,950 structure here, we have a low to high in this low in here, the volume of price structure swings are going to be better measured in the bodies. Now, there are
257 00:48:10,950 --> 00:48:18,630 times I teach this in mentorship, I'm not going to teach it here times and we use the wicks of the candles. And when we use the bodies of the candles. For
258 00:48:18,630 --> 00:48:26,610 this illustration, we don't need to worry about the differentiation between the body or the wick. Okay. everyone's familiar with this standard approach using
259 00:48:26,610 --> 00:48:40,050 the low to high. But I want you to trust the fact that there are reasons why we use the bodies and it's the volume, you use the bodies of the candles. This open
260 00:48:40,050 --> 00:48:51,270 in this closes the same price. Okay, let's double check myself here. 1856 and three, and the open on this is 1856 and three, yes. And then we have the bodies
261 00:48:51,300 --> 00:49:00,840 closed down here. So we have price trading down into and yes, it trades beyond the 797 trading level, that's fine, because I mentioned already the fib is not
262 00:49:01,290 --> 00:49:12,870 the secret. That's not what it is. I'm not entering always just on optimal trade entry. I'm looking for other factors. When we traded down into the order block,
263 00:49:13,500 --> 00:49:24,780 we reacted there. And by the time I got the trading view window open and set up, we just started on this candle. And then I bought just see the trade example
264 00:49:24,780 --> 00:49:29,820 yesterday where it was executed. With this price structure.
265 00:49:30,120 --> 00:49:38,400 We already know that relative equal highs there's gonna be a liquidity so the market should reach up to that level. Okay, fine. What level should it reach
266 00:49:38,400 --> 00:49:49,440 for? There's an institutional at level 18 at&t, scrunch this down a little bit so you can see it. There you go. So we have 1880. above these are relatively
267 00:49:49,440 --> 00:50:05,940 equal highs, and we have one standard deviation of 118 80 and one pit that see that what's the high on this candle here? 1889 and 1889. So we were off by eight
268 00:50:05,940 --> 00:50:19,050 pipettes with the fib, but still reaching for the 80 level. Alright, so now all this discussion. Okay, if I were to tell you all this stuff this is based not to
269 00:50:19,050 --> 00:50:29,790 this degree, obviously. But back in 2010 through 12, when I was doing reviews of optimal trade entry setups and such, I didn't have this much details, clearly.
270 00:50:29,940 --> 00:50:44,790 But when you see these V's or you were, if you were watching back then it probably felt like a whole lot of ever, always looking at after the fact. Okay,
271 00:50:44,910 --> 00:50:55,380 and I can promise you, okay, everything that I was showing you back then was executed on before it happened. And I'm showing you evidences of it here. Now,
272 00:50:55,740 --> 00:51:05,400 it's one thing to see a chart that's marked up like this, and it looks real pretty, it looks textbook this and it's textbook that, but experience, is what
273 00:51:05,400 --> 00:51:14,340 is required for you to be able to understand how to execute within it. See, I can see what's about to happen on the right side of the chart, I can see it for
274 00:51:14,340 --> 00:51:25,410 about three days, really, really tight, really, really precise. And I'm looking for signatures that will overlap to firm these ideas if I don't get them. Or let
275 00:51:25,410 --> 00:51:38,280 me say it this way. If I don't have a number of them, what number three to five specific signatures that I look for in the algorithmic price delivery. I won't
276 00:51:38,280 --> 00:51:46,800 take the trade. Now, I still might be right. But I'm not executing and engaging the market. So I see a lot of trades every single week that I'm just not a part
277 00:51:46,800 --> 00:51:56,250 of. But I could have been at any time. When you see examples like this, let me take this off. But anyway, the one standard deviation nails pretty much the high
278 00:51:56,250 --> 00:52:06,960 the day, and this was the low the day. Now, if I tell you, I traded down here and went long, and I covered at 80 in a Live account, How hard would it be for
279 00:52:06,960 --> 00:52:18,570 you to believe it? For some of you? It didn't happen? Okay, fine. If I tell you I bought down here on a Live account, and I got out here on a Live account. Is
280 00:52:18,570 --> 00:52:31,290 it hard for you to believe me? For somebody Nope, never happened. And that's fine. But what I want you to just appreciate here is all these points, all these
281 00:52:31,290 --> 00:52:42,090 things that I've shown you here, I want you to really take a look at this chart and recreate it in your own platform to the best of your ability. And then I
282 00:52:42,090 --> 00:52:52,320 want you to watch the 15 minute trade recap yesterday where I'm actually engaging in executing and managing stopping and taking partials off along the
283 00:52:52,320 --> 00:53:07,740 way. I want you to think about how that transpired with all these things here. Okay, so what I'm going to show you now is no annotations. And I'm going to add
284 00:53:09,330 --> 00:53:21,390 the trade executions. Okay, here they are. Me scratch this back down, you can see the highest one up here. There you go. So again, I'm going to toggle them
285 00:53:21,390 --> 00:53:38,100 off, so you can see them appear and disappear. See that? That's not me drawing arrows, Brian. That's execution. And it's proof of execution. Now, you're going
286 00:53:38,100 --> 00:53:45,030 to choke on the fact that it's not a Live account. And that's fine. You're just going to have to accept it because I'm not going to open myself a liability
287 00:53:45,030 --> 00:53:53,820 because I'm not licensed to give trade advice. What I'm doing here is illustrating prowess in reading price action. There's a stark contrast between
288 00:53:53,820 --> 00:54:05,940 that and live trading. As soon as I say trade with live funds and do this and do that. I am liable. I love all of you. But I don't love you that much. Okay, so
289 00:54:06,120 --> 00:54:25,740 when you see these things, okay, here's the execution, the by partial, partial and finally collapsing it very close to the 80 1879
290 00:54:25,740 --> 00:54:33,990 and four pipettes. So I was waiting for that limit move. You can see it in the recording just simply would not let me out at the 1880 level but whatever. I
291 00:54:33,990 --> 00:54:41,250 collapsed it and retraced now I'm going to leave these on here and add the annotations back and you can appreciate everything that I'm showing you here.
292 00:54:42,090 --> 00:54:55,530 That's what I was operating under. It's not a rented empty for folks. It's not the replay tab over here. Okay, that stuff. This thing over here. That's not
293 00:54:55,530 --> 00:55:04,080 what this is. Play around with it. You'll see the candles in the recording. Added yesterday you can see them, they're expanding and contracting. Whereas if
294 00:55:04,080 --> 00:55:14,400 you use this playback feature, it's just the candle at completion, I don't need that, I can see the candles before they form. I don't need to use trickery,
295 00:55:14,670 --> 00:55:27,480 okay. So if you've considered using me as a source of number one inspiration to learning, I want you to have confidence that I absolutely know what I'm talking
296 00:55:27,480 --> 00:55:38,010 about. I don't dance, and jump through hoops for people that don't really have an interest in learning. But I have no problem proving that I can do this stuff,
297 00:55:38,910 --> 00:55:54,030 I just simply have to be careful about how I engage, because as soon as I start talking, why funds, then I'm in a dangerous part of education. And I've already
298 00:55:54,030 --> 00:56:02,280 had a run in with the Commodity Futures Trading Commission back in the 90s. And I don't want to deal with that again. So if that upsets you that bothers you, if
299 00:56:02,280 --> 00:56:12,540 it is a stumbling block, where you just simply can't learn from me, unless I give you live trades in a Live account, I'm not your mentor, that's fine. But
300 00:56:12,540 --> 00:56:27,930 I'm 100% focused on your number one protection, my protection, and you're not going to learn with live funds, you're simply not going to not properly, you
301 00:56:27,930 --> 00:56:43,890 need thinking like this, you're going to go on an airplane trip to Greece, okay. And you're flying from the United States, do you want your pilot to be a pilot
302 00:56:43,890 --> 00:56:51,660 to just got on the seat the first time because he feels strongly that he's going to get you there safely. He's read a couple books, he's watched some YouTube
303 00:56:51,660 --> 00:57:02,400 videos, and he feels pretty adamant that he's ready to get you there safely, and everyone else on board. I'm not gonna feel so comfortable doing that. So you
304 00:57:02,400 --> 00:57:11,490 have to go through some degree of trial and error. And you don't want to discover that you're not good at landing in a crash landing situation with live
305 00:57:11,490 --> 00:57:19,740 funds. Because generally you don't walk away from that. It's painful. And it's very hard to get the money to put back in the account. If you're like me, when I
306 00:57:19,740 --> 00:57:27,210 first started, I didn't have a whole lot of money. So you want to learn in an environment that number one doesn't punish you when you're wrong. Because if you
307 00:57:27,210 --> 00:57:37,440 are punished by being incorrect, and you lose money, you are building a toxic perception of trading, and you don't really realize it. So when you see these
308 00:57:37,440 --> 00:57:44,550 people, they say, yeah, you can only learn how to trade if you use a Live account, even if it's peanuts and pennies. That's the way you know, that's the
309 00:57:44,550 --> 00:57:54,510 way you go into trading live funds, you transition that way. But you don't start learning how to trade like that. You spend time minimum six months in some kind
310 00:57:54,510 --> 00:58:06,270 of paper trading or demo account setting period. But you don't even do a demo or paper trading exercise or a regimen unless you have a well written trading plan.
311 00:58:06,330 --> 00:58:14,040 What is the operation that you're following? What's the process? What's the model you're working within? Because if you don't have that in written format,
312 00:58:15,120 --> 00:58:23,220 what are you doing in a demo, you're playing in the sandbox, and that's not going to do anything to build you up? You just got to get sand in your shorts,
313 00:58:23,520 --> 00:58:34,170 and it hurts blotchy thing. So you want to have all these uncomfortable experiences in an environment that is not going to hurt you? And also isn't
314 00:58:34,170 --> 00:58:42,660 going to have that much of an impact psychologically? Because if you lose money in a demo account, whatever, what what did you do wrong? So that way, you can go
315 00:58:42,660 --> 00:58:49,410 into it with the right frame of mind, say, Okay, this is what I did wrong. And this is what I should glean from that. So that way, you're not punishing
316 00:58:49,410 --> 00:58:59,010 yourself by losing funds. How hard is it for you to put $1,000 back in, if you wipe out that account, or $5,000 or foolishly even more than that. Think about
317 00:58:59,010 --> 00:59:10,500 it right now the world is struggling with holding on to their employment. And it's going to get worse. You need a skill set, that's going to help you weather
318 00:59:10,500 --> 00:59:21,420 that. So you want to do it properly. Do it with learning conceptually. Then once you understand the concepts, and you know what you're supposed to be doing with
319 00:59:21,420 --> 00:59:25,170 a particular model, then you spend six months
320 00:59:25,500 --> 00:59:38,760 demoing it. New Life funds, then if you're consistent after six months, then and only then would, I think not recommend I think that if you put the smallest
321 00:59:38,760 --> 00:59:48,210 amount of money such a small minute amount of money that if you'd lost it, it wouldn't even feel like it was a problem. That's what you start with and you do
322 00:59:48,210 --> 01:00:00,900 the smallest amount of trade units you can put on there. D leveraged then slowly work up to that and within the next six months If you're consistently
323 01:00:00,900 --> 01:00:09,360 profitable, and you're growing that up, then if it's something that you feel strongly about, then consider adding a little bit each week and treat it like a
324 01:00:09,360 --> 01:00:20,040 401k plan. And then if you're able to work with a larger equity size, as you start putting more in into the account, and you do it gradually, that's the
325 01:00:20,040 --> 01:00:28,200 proper way of doing it. But it's not what you want to hear, because it's not in those books. It's not in these courses. It's not these 20 year olds trying to
326 01:00:28,200 --> 01:00:40,290 make trading courses when they've never been profitable in their life trading ever. I'm one of two people, folks. I'm either the best friend you're ever going
327 01:00:40,290 --> 01:00:49,230 to have in this industry. On the guide, it stands in your way to collect the glory that you never deserved. Until next time, I wish you good luck and good
328 01:00:49,230 --> 01:00:49,530 trading.