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Version 1.1 by Drunk Monkey on 2020-11-20 17:09
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3 ICT: Alright, so I'm going long euro dollar here. So it's
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7 trading view platform. It is a non empty for platform just
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11 to illustrate execution and trade management, this is a one
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15 minute chart also. And you're about to see an ICT unicorn.
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19 There's a lot of folks out there, I'll say, ICT never shows
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23 you when he loses. Well, you're going to see this here. And
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27 it wasn't me pretending to lose this to do it for stunt. Me,
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31 basically put him on stop too tight. So I'm looking for a
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35 move that take us above that 116 75 area, that'll be my
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39 first partial. But just as a spoiler, I do get stopped out
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43 on this entry here. I'm using a lot less leverage than I
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47 could use with this hypothetical balance. Because it's a
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51 Monday, and I'm not really wanting to trade this direction
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55 strongly yet. But for the purpose of execution, I flagged
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59 everyone on my community tab on my YouTube channel stating
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63 that there was an hourly equal highs if you're at least
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67 familiar with my content, and that's basically what I'm
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71 gonna be aiming for for this trade. But first partial, that
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75 means I'm going to take something off should a trade there
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79 and it stop loss should be getting tagged here.
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83 Alright, so I got stopped there for a $200 loss. But nothing
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87 has changed. Okay, so as I'm looking at price, I'm thinking
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91 to myself, well, I didn't have my stop at the right place I
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95 brought up too soon. And I still like the idea of it trading
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99 higher, and going after those hourly equal highs. So same
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103 framework, just considering every entry. So everything I'm
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107 looking at on the chart still is valid. So I'm not concerned
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111 about being right or wrong. Okay, that's the one big
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115 takeaways from this is not to let your ego or your pride or
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119 fear and greed get in the way of taking a trade if it still
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123 valid and invalid. Okay, you can see, look at the risk
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127 percentage. Once I set the stop, ultra low. And the cynics
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131 will watch this and say oh big deal, a couple hundred
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135 dollars. It's not about the money, it's about the pips. It's
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139 about the placement of entry, and management. And
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143 visibility, says the markets trading down like this, most
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147 retail traders are thinking Lower, lower lower, and annotate
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151 the chart, expecting it to rally once it's down there, oh,
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155 and the execution. So you can see there isn't any real
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159 distance between the actual low and where I got in it. And
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163 you'll actually see the stop out too. But the little errors.
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167 So with a one minute chart, letting it tick like this. At
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171 this point, I'm expecting it to probably stay consolidated
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175 until we get into Asia. And I think that Asia will pump it
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179 up over that 1685 1680 level.
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183 This compressing the chart a little bit so that we can see
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187 it. And I should be annotating the chart with the executions
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191 as you can see them now. And I'll show you those annotations
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195 with you know the cursor going over top of it. So you can
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199 see they're not just lipstick added to the chart. But pretty
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203 good placement on the on the entry, even the first entry.
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207 But when I moved my stop, I should have been able to weather
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211 that in the little eyeball icon is just to keep your focus.
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215 That's where I'm focusing my own attention. I think it's
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219 going to go above that. So I'm gonna set my objective to
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223 take something off above that. And I was a little premature.
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227 I thought I was gonna run above that but it didn't. So I'm
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231 annotating a run on sellside liquidity of that was a run on
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235 stops. Sell stops. So usually when that happens, it's an
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239 indicative characteristic of wanting to go higher.
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243 And you can see I'm annotating my anticipation is in asian
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247 session is going to rally up into that area. Okay, I came
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251 back to the recording it see it's just underneath the level
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255 I'm looking for.
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259 Okay, price runs through just my stop loss, and then I'm
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263 gonna take a partial off.
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267 Now my focus is up there, stop has been trailed up. And I'm
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271 going to take something off, and you can see the execution
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275 print as I do it. So this will leave 200,000. left on, you
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279 see all orders coming up on the screen. No empty for
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283 trickery. And there's the execution there on a partial
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287 and move my stop.
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291 Okay, at this point in here, I'm thinking to myself, I want
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295 to take something else off. But I don't do it. And looking
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299 back in hindsight, my processes and things that I do, while
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303 I was looking at this chart live at the moment, I didn't do
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307 it, I did not take a partial off, I would have taken off
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311 100,000 and left 100,001 to maybe run to that target or stop
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315 out. But I choose not to do it. So I actually have to take a
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319 partial, as it's retraced from this high at a later time, as
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323 you'll see in executions. But it did not have the recording
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327 going at the time. So it is what it is. But you'll be able
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331 to see the executions. And I'll show you on the chart. But
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335 at this very moment. There should have been another partial
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339 taken, because it's trading above the high that was formed
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343 between nine o'clock and 10 o'clock in the morning. And
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347 above that 116 at level. So that's a really good level to be
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351 taking something off. And it's not about being right, it's
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355 not about your target being hit, it's not about a perfect
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359 trade entry to perfect trade exit. Many times trades will
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363 give you the the carrot, if you will, dangling in front of
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367 you thinking that you're going to get that perfect
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371 development of a trade entry and exit. And it just falls
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375 short of it. And having been following the markets as long
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379 as I have I've had many instances like that, where it's
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383 forced me to do the take early profit, and be content with
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387 that, if I'm looking for 100% of a move, and I get out at
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391 85% of the move. I'm not upset with that no one really
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395 should be upset with that. So you're trying to get out
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399 during the meat, okay, or the lions portion of the move, and
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403 leaving all of the highs and the very lows to just Well, in
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407 this case, it's ego and pride that's allowed to be used
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411 there. Because you're you're using it over the analysis, not
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415 the trading. If you incorporate ego and your pride when the
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419 money is attached to it, then it tends to cloud your
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423 perception. And you care more about that than you do then of
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427 taking sound entry paying yourself along the way. And just
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431 being content with Yes, your analysis said it was going to
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435 go right to the laser guided pie of whatever number value
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439 that would be. But getting out before that happens, because
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443 there's nothing that comes by way of absolute perfection in
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447 your execution. Now price might deliver that specific price
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451 level, but it may not trigger your exit, you may have your
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455 limit order at that level plus one Pip. And it just denies
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459 you. I've had limit orders where prices actually hit in my
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463 limit or didn't activate. So to avoid all of that
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467 frustration. Over the years I've built in protocols that say
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471 oh Kay, I have to be getting in the direction of the
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475 expected target. And I've grown over the years. In fact, in
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479 the last three years or four years, I've grown even more
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483 content with it. Because I struggle with obsessive
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487 compulsive disorder. And I have to have things, my way My
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491 home is like that everything in my house is exactly where I
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495 want. And if it's moved on now, and I expect an unrealistic
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499 superhuman delivery of prowess in myself. So I have higher
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503 expectations than any of you would have of me as an educator
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507 or a mentor, or trader, or whatever. So to compensate and to
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511 provide therapy to myself, I've given myself permission to
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515 exit in the direction of my expected targets. That way, my
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519 ego, my pride is satisfied, should it trade there, but my
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523 bottom line isn't affected by that transaction of pride and
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527 ego, if that makes any sense. If you've ever traded with
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531 live money, you'll know what that means. If you've only been
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535 in demo, it really won't register with you. So let's go over
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539 to the live charts, and we'll take a look at what's going on
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543 and ocsea outline what I was doing. Alright, so here's the
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547 Euro dollars is their hourly chart. And yesterday on my
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551 community tab on the YouTube channel, I prompted everyone to
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555 look at the hourly chart, and I asked them, What do you see
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559 this area right over here is where your attention should
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563 have been drawn, especially if you're a student of mine,
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567 even on this YouTube channel, not necessarily requiring
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571 mentorship level. So when price was trading here, we don't
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575 chase price. Okay, during this time of day, okay, this is
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579 the new york session. So the market has been rallying
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583 straight from the low here at three o'clock in the morning.
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587 So from three o'clock in the morning, it has had no real
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591 significant retracements. The heart of New York, open
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595 trading is waiting for some measure of retracement that is
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599 preferably in line with the direction that the London
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603 session has put in motion. In this case, you can see that
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607 London had been trading higher. So right away, you know, if
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611 you've been watching this YouTube channel, if you've watched
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615 my optimal trade entry pattern recognition series, or if
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619 you've watched any of my teachings regarding that pattern,
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623 which is kind of like the flag ship of this YouTube channel.
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627 There's lots of other things that you can learn here. But
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631 that's kind of like the thing everybody comes here for. So
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635 if you look at this price swing from the low to this high,
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639 as price starts to decline, we're waiting for it to trade
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643 into an optimal trade entry. So what is that? Well, it's
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647 this pattern here, low to high trades down into the 62%
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651 retracement level. And you can actually see all the
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655 annotations that were on that one minute chart will drop
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659 down into one minute chart in a moment. But the market
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663 trades down to optimal trade entry and then starts to trade
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667 higher. I moved my stop loss up a little too prematurely.
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671 And lastly, as I indicated on my community tab, I ended up
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675 getting stopped out I did not re enter, I just left it
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679 alone. So I could have went back in and did another trade.
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683 But if I would have done that, those that are really not
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687 interested in follow me that are very critical of the things
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691 I do and teach or say, will say his ego wouldn't let him
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695 have a day where he took a loss or got stopped out. And here
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699 I am, I'm showing you imperfection, the human side of me
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703 where I did it wrong, but having the analysis, right, that's
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707 going to happen a lot, it's going to happen a lot for you as
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711 a developing student, but I'm not exempt from it, you're
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715 always going to have that possibility of doing it
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719 incorrectly, moving your stop too soon, or entering too
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723 soon, not a problem. If everything is still valid, then you
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727 just go back in again. But because I wasn't risking a lot on
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730 00:14:08,999 ~-~-> 00:14:11,219
731 the trade, I could go right back in with the same amount of
732
733 184
734 00:14:11,219 ~-~-> 00:14:14,759
735 leverage, which was very miniscule. Now let's say for
736
737 185
738 00:14:14,759 ~-~-> 00:14:17,729
739 instance, that I already got stopped out on that first entry
740
741 186
742 00:14:18,149 ~-~-> 00:14:22,349
743 with a full maximum, whatever that percentage exposure would
744
745 187
746 00:14:22,349 ~-~-> 00:14:25,019
747 be, let's just say the industry standard, which I believe is
748
749 188
750 00:14:25,019 ~-~-> 00:14:32,009
751 too high 2%. Say it was a loss of 2%. And so you have a role
752
753 189
754 00:14:32,099 ~-~-> 00:14:34,919
755 that you don't want to lose more than 3% in any one
756
757 190
758 00:14:34,919 ~-~-> 00:14:38,129
759 particular day. That's a highly speculative model, but let's
760
761 191
762 00:14:38,129 ~-~-> 00:14:41,339
763 just say that's the case, then I would have to go back in
764
765 192
766 00:14:41,729 ~-~-> 00:14:47,399
767 only leveraging 100,000 or in this case 125,000 half because
768
769 193
770 00:14:47,399 ~-~-> 00:14:52,409
771 the original position was 250,000 which is $25 per Pip. The
772
773 194
774 00:14:52,409 ~-~-> 00:14:54,659
775 next trade after getting stopped out it would have been a
776
777 195
778 00:14:54,659 ~-~-> 00:14:58,469
779 full maximum loss that I would be willing to assume, again
780
781 196
782 00:14:58,469 ~-~-> 00:15:01,229
783 assuming that would be 2% I didn't even have a half a
784
785 197
786 00:15:01,229 ~-~-> 00:15:06,179
787 percent really of leverage here. That's the reason why I
788
789 198
790 00:15:06,179 ~-~-> 00:15:09,299
791 could go back in and use the same amount of leverage I used
792
793 199
794 00:15:09,449 ~-~-> 00:15:13,979
795 when I took the loss. Okay. So that's why it's important for
796
797 200
798 00:15:13,979 ~-~-> 00:15:16,229
799 you to understand sound money management and risk
800
801 201
802 00:15:16,229 ~-~-> 00:15:19,829
803 management. And it's not always what's the maximum amount of
804
805 202
806 00:15:19,829 ~-~-> 00:15:23,969
807 money I can risk. Because you're really doing that with the
808
809 203
810 00:15:23,969 ~-~-> 00:15:27,989
811 expectation trying to make the maximum profit return. And
812
813 204
814 00:15:27,989 ~-~-> 00:15:31,409
815 that is the trap. You don't want that as long as you keep
816
817 205
818 00:15:31,409 ~-~-> 00:15:34,979
819 adding to your bottom line every week, every month, every
820
821 206
822 00:15:34,979 ~-~-> 00:15:42,059
823 quarter, the years that go by that make you a trader. That's
824
825 207
826 00:15:42,059 ~-~-> 00:15:45,239
827 all it matters, it will build it will be exponentially
828
829 208
830 00:15:45,569 ~-~-> 00:15:49,829
831 growing. But you can't expect 30% returns every single week.
832
833 209
834 00:15:50,729 ~-~-> 00:15:54,539
835 You know, there's so many people out there promoting that
836
837 210
838 00:15:54,539 ~-~-> 00:15:57,269
839 idea that Oh, yeah, I'm doing this and I'm doing it. They're
840
841 211
842 00:15:57,269 ~-~-> 00:16:00,359
843 not okay. You don't even see him executing on trading view.
844
845 212
846 00:16:00,359 ~-~-> 00:16:03,989
847 I watched the gentleman yesterday that was showing a mt four
848
849 213
850 00:16:04,019 ~-~-> 00:16:08,969
851 account platform, the profit, you know, the open ticket that
852
853 214
854 00:16:08,969 ~-~-> 00:16:12,479
855 was open showing their profit and loss, theoretically, they
856
857 215
858 00:16:12,479 ~-~-> 00:16:15,209
859 had it at the top of their chart, and then a showing a
860
861 216
862 00:16:15,209 ~-~-> 00:16:19,769
863 trading view chart, well, why didn't they do the execution
864
865 217
866 00:16:19,769 ~-~-> 00:16:25,889
867 and trading view and then show how that panned out? To me,
868
869 218
870 00:16:25,889 ~-~-> 00:16:29,549
871 it just seems like a whole lot of extra work to prove that
872
873 219
874 00:16:29,639 ~-~-> 00:16:32,699
875 they did something after it starts moving, because you don't
876
877 220
878 00:16:32,699 ~-~-> 00:16:35,639
879 see them entering. And that's what I'm trying to support
880
881 221
882 00:16:36,000 ~-~-> 00:16:40,260
883 the community with here. When I show you a trade, I'm
884
885 222
886 00:16:40,260 ~-~-> 00:16:43,050
887 showing you a trade, I'm showing you an execution, a stop
888
889 223
890 00:16:43,050 ~-~-> 00:16:46,590
891 placement, a management of the stop partials along the way
892
893 224
894 00:16:46,770 ~-~-> 00:16:49,620
895 and the thumb, right, it'll go to the target. If I'm not,
896
897 225
898 00:16:49,650 ~-~-> 00:16:52,200
899 it'll stop me out. But it doesn't change the fact that I'm
900
901 226
902 00:16:52,200 ~-~-> 00:16:59,100
903 executing, I'm putting it to work, pushing the button. So if
904
905 227
906 00:16:59,100 ~-~-> 00:17:02,010
907 that's the case, and we see it happening in trading view,
908
909 228
910 00:17:02,520 ~-~-> 00:17:06,810
911 you're seeing real examples from my perception of price at
912
913 229
914 00:17:06,810 ~-~-> 00:17:10,470
915 the time that I prompted everyone through the community tab.
916
917 230
918 00:17:10,470 ~-~-> 00:17:13,800
919 Now, that's pretty much how I do mentorship. You know, I
920
921 231
922 00:17:13,800 ~-~-> 00:17:16,890
923 outline what I think is gonna happen. It's not a trade
924
925 232
926 00:17:16,890 ~-~-> 00:17:19,800
927 signal service, I don't tell you exactly where to get in it.
928
929 233
930 00:17:19,830 ~-~-> 00:17:21,450
931 I don't tell you where to place your stop loss, but I
932
933 234
934 00:17:21,450 ~-~-> 00:17:26,190
935 believe by pointing Okay, like you're a scout sniper in
936
937 235
938 00:17:26,190 ~-~-> 00:17:30,780
939 training, and I am your shooting instructor. So I'm going to
940
941 236
942 00:17:30,780 ~-~-> 00:17:33,990
943 point and call down the range and say, Okay, I want you to
944
945 237
946 00:17:33,990 ~-~-> 00:17:37,500
947 aim for that target there. Okay, it's your job to sight up
948
949 238
950 00:17:37,500 ~-~-> 00:17:41,010
951 your rifle, scope it up, and then pull the trigger and hit
952
953 239
954 00:17:41,010 ~-~-> 00:17:45,510
955 it with the tools and training that you've been exposed to.
956
957 240
958 00:17:46,350 ~-~-> 00:17:49,200
959 If you aren't aiming at the right target, or going the
960
961 241
962 00:17:49,200 ~-~-> 00:17:51,480
963 opposite direction, you're going to hurt yourself or someone
964
965 242
966 00:17:51,480 ~-~-> 00:17:54,960
967 else. Okay. And the other person in this case is your bottom
968
969 243
970 00:17:54,960 ~-~-> 00:18:01,560
971 line. Okay, so to avoid that frustration, as a mentor, I use
972
973 244
974 00:18:01,560 ~-~-> 00:18:05,310
975 my almost three decades of experience coaching my students
976
977 245
978 00:18:05,310 ~-~-> 00:18:10,620
979 to aim for a specific level. Now, full disclosure. Before
980
981 246
982 00:18:10,620 ~-~-> 00:18:14,850
983 this week started, I was giving the market a willingness to
984
985 247
986 00:18:14,850 ~-~-> 00:18:18,330
987 go lower initially, but if it showed no willingness to go
988
989 248
990 00:18:18,330 ~-~-> 00:18:23,460
991 lower than it was going to aim right here. I say this in
992
993 249
994 00:18:23,460 ~-~-> 00:18:27,780
995 mentorship. Now what changed my opinion about looking for
996
997 250
998 00:18:27,780 ~-~-> 00:18:32,220
999 bearishness, well, this obvious run here higher. So I don't
1000
1001 251
1002 00:18:32,220 ~-~-> 00:18:35,760
1003 want to go short. And then I want to aim for this now. So
1004
1005 252
1006 00:18:35,760 ~-~-> 00:18:37,950
1007 that was the logic without going into all the great details.
1008
1009 253
1010 00:18:38,460 ~-~-> 00:18:41,790
1011 So let's drop down into one minute chart. And I'll flesh
1012
1013 254
1014 00:18:41,790 ~-~-> 00:18:44,910
1015 this out a little bit more. But basically, this area here is
1016
1017 255
1018 00:18:44,910 ~-~-> 00:18:47,430
1019 what I was aiming at. Alright, so here's the one minute
1020
1021 256
1022 00:18:47,430 ~-~-> 00:18:51,630
1023 chart. And price was dropping down inside of optimal trade
1024
1025 257
1026 00:18:51,630 ~-~-> 00:18:55,650
1027 entry right in here. So I'm going to take the fib off. So
1028
1029 258
1030 00:18:55,650 ~-~-> 00:19:00,270
1031 it's already accomplished its usefulness and I'm going to
1032
1033 259
1034 00:19:00,270 ~-~-> 00:19:09,660
1035 add the execution so you can see it. Here's the initial
1036
1037 260
1038 00:19:09,660 ~-~-> 00:19:12,720
1039 entry. And then we're I got stopped out right there. That's
1040
1041 261
1042 00:19:12,720 ~-~-> 00:19:19,920
1043 a $200 loss. Then I went back in within the next minute. But
1044
1045 262
1046 00:19:19,920 ~-~-> 00:19:26,790
1047 they're just in case you guys think they're added. I had a
1048
1049 263
1050 00:19:26,790 ~-~-> 00:19:32,280
1051 guy in about a month ago. He says, you're adding arrows, I
1052
1053 264
1054 00:19:32,280 ~-~-> 00:19:34,530
1055 can draw the arrows and make them small too. I want you to
1056
1057 265
1058 00:19:34,560 ~-~-> 00:19:40,440
1059 watch these arrows. Okay. Execution off. execution on, off,
1060
1061 266
1062 00:19:40,740 ~-~-> 00:19:46,680
1063 on, off on. Okay, so you can see they're perfectly where
1064
1065 267
1066 00:19:46,680 ~-~-> 00:19:49,050
1067 they're supposed to be at. Okay, they're not painted.
1068
1069 268
1070 00:19:51,390 ~-~-> 00:19:56,820
1071 Alright, so a call for the rally there, anticipated maybe a
1072
1073 269
1074 00:19:56,820 ~-~-> 00:19:59,460
1075 run back into this level here. Had it been there. I would
1076
1077 270
1078 00:19:59,460 ~-~-> 00:20:02,430
1079 have commented If I wasn't already long I would buy there,
1080
1081 271
1082 00:20:02,550 ~-~-> 00:20:06,210
1083 but it didn't trade down there. I put this level in the
1084
1085 272
1086 00:20:06,210 ~-~-> 00:20:13,500
1087 chart, it's a run on sell stops. There is my partial. This
1088
1089 273
1090 00:20:13,500 ~-~-> 00:20:15,990
1091 is the high I wish I would have taken something off at as
1092
1093 274
1094 00:20:15,990 ~-~-> 00:20:20,850
1095 well but it didn't do it. And I did it there. Because I was
1096
1097 275
1098 00:20:20,850 ~-~-> 00:20:23,190
1099 concerned we're going to get a retracement and we got it. So
1100
1101 276
1102 00:20:23,190 ~-~-> 00:20:26,520
1103 I took 100,000 off there, leaving a balance of 100 which
1104
1105 277
1106 00:20:26,520 ~-~-> 00:20:30,450
1107 eventually get stopped out there. Because I put my stop loss
1108
1109 278
1110 00:20:30,450 ~-~-> 00:20:33,210
1111 as you saw on the video right below here. I was hoping I was
1112
1113 279
1114 00:20:33,210 ~-~-> 00:20:39,570
1115 gonna run aggressively above the 85 level during Asia but it
1116
1117 280
1118 00:20:39,570 ~-~-> 00:20:42,900
1119 didn't have a deeper retracement. So in a lot of ways I did
1120
1121 281
1122 00:20:42,900 ~-~-> 00:20:47,580
1123 the right thing here. And I wasn't happy if I would have
1124
1125 282
1126 00:20:47,580 ~-~-> 00:20:51,390
1127 been awake watching it, I would have been not satisfied at
1128
1129 283
1130 00:20:51,390 ~-~-> 00:20:54,270
1131 all sitting through this much of retracement it
1132
1133 284
1134 00:20:54,270 ~-~-> 00:20:59,100
1135 consolidated, Spike down one more time, and then eventually
1136
1137 285
1138 00:21:01,200 ~-~-> 00:21:06,480
1139 made a larger trading range spiked up above. There's a sweep
1140
1141 286
1142 00:21:06,480 ~-~-> 00:21:10,320
1143 I was calling everybody's attention to yesterday. And then
1144
1145 287
1146 00:21:11,220 ~-~-> 00:21:16,230
1147 another spike up and then finally clearing another
1148
1149 288
1150 00:21:16,230 ~-~-> 00:21:24,840
1151 objective, as you saw. So all in all, you saw humanity. I'm
1152
1153 289
1154 00:21:24,840 ~-~-> 00:21:31,680
1155 human. I can see it forming. And I can see where my entry
1156
1157 290
1158 00:21:31,680 ~-~-> 00:21:32,430
1159 should be.
1160
1161 291
1162 00:21:33,990 ~-~-> 00:21:37,830
1163 And that they're down here. Okay, here, partial. I should
1164
1165 292
1166 00:21:37,830 ~-~-> 00:21:40,830
1167 have taken a partial here. Took a partial there. And then
1168
1169 293
1170 00:21:40,830 ~-~-> 00:21:43,740
1171 this retracement. So no matter how you slice this in here, I
1172
1173 294
1174 00:21:43,740 ~-~-> 00:21:46,290
1175 would have gotten stopped out. And if it not there, I would
1176
1177 295
1178 00:21:46,290 ~-~-> 00:21:51,750
1179 have been stopped out over there. So it is what it is folks,
1180
1181 296
1182 00:21:51,750 ~-~-> 00:21:54,270
1183 you're not going to be you're not going to be perfect every
1184
1185 297
1186 00:21:54,270 ~-~-> 00:21:57,570
1187 single time. And there is no reason for you to be upset,
1188
1189 298
1190 00:21:57,630 ~-~-> 00:22:01,710
1191 should you miss a full run to a target or more than what you
1192
1193 299
1194 00:22:01,710 ~-~-> 00:22:04,230
1195 were expecting. There's no reason for that. And you
1196
1197 300
1198 00:22:04,230 ~-~-> 00:22:08,820
1199 shouldn't be highly critical of yourself in your journal.
1200
1201 301
1202 00:22:09,270 ~-~-> 00:22:12,990
1203 When you're doing recaps. Like saying I feel stupid, I
1204
1205 302
1206 00:22:12,990 ~-~-> 00:22:16,380
1207 missed this. I missed that. There's so many trades that
1208
1209 303
1210 00:22:16,380 ~-~-> 00:22:20,160
1211 you're going to take the rest of your career. leave room for
1212
1213 304
1214 00:22:20,160 ~-~-> 00:22:25,080
1215 imperfection. Because imperfection. teaches it teaches you
1216
1217 305
1218 00:22:25,080 ~-~-> 00:22:27,750
1219 how to improve upon yourself. Because if you don't make any
1220
1221 306
1222 00:22:27,750 ~-~-> 00:22:32,700
1223 mistakes, how can you improve? Think. So as you can see,
1224
1225 307
1226 00:22:32,760 ~-~-> 00:22:36,660
1227 again, nice tight grouping. To me, when I first started,
1228
1229 308
1230 00:22:36,690 ~-~-> 00:22:41,250
1231 this was a dream, like I was thinking I would never find
1232
1233 309
1234 00:22:41,250 ~-~-> 00:22:45,540
1235 entry points like that. And looking back now I can see all
1236
1237 310
1238 00:22:45,540 ~-~-> 00:22:48,570
1239 the times where I was emotional, upset with myself feeling I
1240
1241 311
1242 00:22:48,570 ~-~-> 00:22:50,850
1243 was never going to get it, I was never going to be able to
1244
1245 312
1246 00:22:50,850 ~-~-> 00:22:53,220
1247 find setups, I was never going to be able to do it
1248
1249 313
1250 00:22:53,220 ~-~-> 00:22:57,120
1251 independently without relying on someone else. And that's
1252
1253 314
1254 00:22:57,120 ~-~-> 00:23:00,690
1255 the reason why I teach the way I teach. I do not can hold
1256
1257 315
1258 00:23:00,750 ~-~-> 00:23:03,360
1259 everyone in my mentorship and say, Okay, everybody put your
1260
1261 316
1262 00:23:03,360 ~-~-> 00:23:06,750
1263 stops here we're buying here. retargeting there. No, because
1264
1265 317
1266 00:23:06,750 ~-~-> 00:23:12,480
1267 I teach how to do that. In my lessons, your job is to hit
1268
1269 318
1270 00:23:12,480 ~-~-> 00:23:17,520
1271 the targets, I point at using that information using your
1272
1273 319
1274 00:23:17,520 ~-~-> 00:23:21,060
1275 specific setup that you favor more than all the other ones.
1276
1277 320
1278 00:23:21,480 ~-~-> 00:23:26,790
1279 And trust me, there are multiple entries in this price
1280
1281 321
1282 00:23:26,790 ~-~-> 00:23:29,640
1283 action, I could have used not just simply buying on the
1284
1285 322
1286 00:23:29,640 ~-~-> 00:23:32,100
1287 optimal trade entry. There's other things in this I could
1288
1289 323
1290 00:23:32,100 ~-~-> 00:23:35,040
1291 have used, it would have been slightly different entry
1292
1293 324
1294 00:23:35,040 ~-~-> 00:23:38,730
1295 points, but still same context of reaching for that
1296
1297 325
1298 00:23:38,730 ~-~-> 00:23:40,860
1299 runnable. There's relatively equal highs on the hourly
1300
1301 326
1302 00:23:40,860 ~-~-> 00:23:50,340
1303 chart. So hopefully, this has been inspiring, relieving in a
1304
1305 327
1306 00:23:50,340 ~-~-> 00:23:56,970
1307 way that, you know, even ICT can take a loss, follow the
1308
1309 328
1310 00:23:56,970 ~-~-> 00:24:01,380
1311 plan, which is looking for that run on liquidity and the
1312
1313 329
1314 00:24:01,410 ~-~-> 00:24:05,160
1315 trade still valid, then take it but don't over leverage
1316
1317 330
1318 00:24:05,160 ~-~-> 00:24:08,940
1319 every time because if you get it wrong. Are you going to
1320
1321 331
1322 00:24:08,940 ~-~-> 00:24:12,030
1323 take another trade late in the day like that, because this
1324
1325 332
1326 00:24:12,030 ~-~-> 00:24:16,200
1327 is London close. London closed is not always the opposite
1328
1329 333
1330 00:24:16,200 ~-~-> 00:24:20,790
1331 end of the daily range many times it's a continuation to the
1332
1333 334
1334 00:24:20,790 ~-~-> 00:24:24,540
1335 next day. So if there's something bullish and that's kind of
1336
1337 335
1338 00:24:24,540 ~-~-> 00:24:28,320
1339 like what I was aiming for, if that's the case, I'm going to
1340
1341 336
1342 00:24:28,320 ~-~-> 00:24:32,970
1343 go long here in hole through Asia. It doesn't it isn't a day
1344
1345 337
1346 00:24:32,970 ~-~-> 00:24:37,320
1347 trade then it's potentially a short term trade. And had I
1348
1349 338
1350 00:24:37,320 ~-~-> 00:24:40,230
1351 had a little bit more conviction behind it. I could have
1352
1353 339
1354 00:24:40,230 ~-~-> 00:24:43,080
1355 been leaving room for a little bit higher up into the
1356
1357 340
1358 00:24:43,080 ~-~-> 00:24:48,330
1359 117 10 117 15 level. What I've been up here No, no,
1360
1361 341
1362 00:24:48,330 ~-~-> 00:24:51,810
1363 honestly, I would not be holding anything up here long. So
1364
1365 342
1366 00:24:52,470 ~-~-> 00:25:04,740
1367 as much as it's painful Or deflating or frustrating for you,
1368
1369 343
1370 00:25:05,130 ~-~-> 00:25:09,630
1371 if you get stopped out. It's just a transaction. It's the
1372
1373 344
1374 00:25:09,630 ~-~-> 00:25:12,690
1375 same as paying taxes. When you buy something, you have to
1376
1377 345
1378 00:25:12,690 ~-~-> 00:25:16,950
1379 pay the sales tax. It's, it comes with the territory. And if
1380
1381 346
1382 00:25:16,950 ~-~-> 00:25:21,360
1383 you keep vilifying that thing, that's the reason why you're
1384
1385 347
1386 00:25:21,360 ~-~-> 00:25:23,970
1387 not making money. Well, it's because you're risking too much
1388
1389 348
1390 00:25:24,000 ~-~-> 00:25:29,040
1391 in trading too frequently. Or you need to revisit your model
1392
1393 349
1394 00:25:29,040 ~-~-> 00:25:32,340
1395 altogether. Because if you have a sound price action model,
1396
1397 350
1398 00:25:32,940 ~-~-> 00:25:37,710
1399 you should not be having more losing transactions in theory.
1400
1401 351
1402 00:25:38,730 ~-~-> 00:25:42,240
1403 And in the executions need to come on board with that same
1404
1405 352
1406 00:25:42,600 ~-~-> 00:25:45,510
1407 thought process. It can't, you can't have everything going
1408
1409 353
1410 00:25:45,510 ~-~-> 00:25:48,840
1411 their own direction, and doing a lot more frequently than
1412
1413 354
1414 00:25:48,840 ~-~-> 00:25:51,750
1415 you should, over leveraging with more money than you should.
1416
1417 355
1418 00:25:52,410 ~-~-> 00:25:54,180
1419 Because there's no reason for you to be worrying about
1420
1421 356
1422 00:25:54,180 ~-~-> 00:25:58,050
1423 taking the next trade. So there you go. He's seen a losing
1424
1425 357
1426 00:25:58,050 ~-~-> 00:26:04,140
1427 trade, you seen the executions, and it isn't a lot of money
1428
1429 358
1430 00:26:04,140 ~-~-> 00:26:08,400
1431 clearly. But I'm going to change this and work out a little
1432
1433 359
1434 00:26:08,400 ~-~-> 00:26:12,930
1435 bit lower leverage pace in my examples, because this was
1436
1437 360
1438 00:26:12,960 ~-~-> 00:26:16,980
1439 just using an example and running up to a level that my son
1440
1441 361
1442 00:26:16,980 ~-~-> 00:26:20,850
1443 needed to see for his development. So it doesn't mean
1444
1445 362
1446 00:26:20,850 ~-~-> 00:26:23,310
1447 anything. It's all paper money. Don't think that this is
1448
1449 363
1450 00:26:23,310 ~-~-> 00:26:26,430
1451 sitting in a trading account where I can go do withdrawals.
1452
1453 364
1454 00:26:26,490 ~-~-> 00:26:30,120
1455 Okay? I'm 100% transparent, I don't tell you anything that
1456
1457 365
1458 00:26:30,120 ~-~-> 00:26:32,520
1459 isn't true. And the point is,
1460
1461 366
1462 00:26:34,380 ~-~-> 00:26:37,050
1463 what I make or what I don't make is, frankly, none of your
1464
1465 367
1466 00:26:37,050 ~-~-> 00:26:42,210
1467 business. But if you want to see me execute, you start here.
1468
1469 368
1470 00:26:42,960 ~-~-> 00:26:45,510
1471 You can see it happening here. It's not an empty for
1472
1473 369
1474 00:26:45,510 ~-~-> 00:26:49,560
1475 platform. It's not an empty for server, it's trading you and
1476
1477 370
1478 00:26:49,560 ~-~-> 00:26:53,970
1479 if you can trade you can trade on tradingview you can
1480
1481 371
1482 00:26:53,970 ~-~-> 00:26:58,080
1483 execute and people will be able to see it and or you can
1484
1485 372
1486 00:26:58,080 ~-~-> 00:27:05,370
1487 have it it'll be in your your history on your account. But I
1488
1489 373
1490 00:27:05,370 ~-~-> 00:27:08,040
1491 think that's going to be it for today. And I will talk with
1492
1493 374
1494 00:27:08,040 ~-~-> 00:27:10,650
1495 you again on Thursday. Until then, I wish good luck and good
1496
1497 375
1498 00:27:10,650 ~-~-> 00:27:11,040
1499 trading