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ICT YT - 2020-10-27 - My View on Gurus Turn Reviewer and Why I Prefer Forex.srt

Last modified by Drunk Monkey on 2021-06-11 14:58
1 00:00:17,130 --> 00:00:37,290 ICT: Okay, folks, welcome back, there is a growing community of reviewers, of educators and service providers on the YouTube platform. And I think it's, in
2 00:00:37,290 --> 00:00:49,710 many ways good. And then there's other things about it that I don't necessarily like. And it's not because I'm afraid or concerned about anyone's opinion about
3 00:00:49,710 --> 00:01:02,640 me or what I do. Because I've been doing free education for over 20 years. And this YouTube channel is a collection of things that everyone in the trading
4 00:01:02,640 --> 00:01:11,850 community can come to this YouTube channel, and investigate the things that I claim, they can look at some of the things I talked about in terms of repeating
5 00:01:11,850 --> 00:01:24,060 phenomenon in the marketplace as it relates to foreign exchange. And then you as the constant reader, determine whether or not there's any value here, and or dig
6 00:01:24,060 --> 00:01:34,020 into it deeper, and start applying it to your own studies. Now, everyone that comes to this channel, invariably, we'll be inundated with the level of
7 00:01:34,620 --> 00:01:51,150 concepts, the the depth of and direction, your studies can take you that many times is very intimidating. And sometimes people come here, and they see that
8 00:01:51,150 --> 00:02:00,120 and they think, right right away that there's no trading plan here, or there's no way to, to make this work. When in fact, there's a myriad of ways of making
9 00:02:00,120 --> 00:02:16,110 it work. But it allows you as the viewer, to make it uniform and unique to you. So I'm just going to introduce that as an opening statement. Because while I do
10 00:02:16,110 --> 00:02:26,490 have a paid service, and it's a mentorship that I hold the hand of my students and kind of like guide them through the market climate, real time before it
11 00:02:26,490 --> 00:02:35,040 happens. And while that's not a signal service, I do not tell my students to buy here, sell there. But your stop here, take your profit. That's not what I do.
12 00:02:35,040 --> 00:02:45,570 I'm not licensed to give that level of advice. But I give my opinion about what I think the marketplace is likely to do using 20 years of experience, this
13 00:02:45,570 --> 00:03:02,460 November 5. So my community, both on YouTube, and my paid community, both have a high regard for the things that I teach, and me as a person, because number one,
14 00:03:02,460 --> 00:03:14,130 I put a lot of time and energy and passion into what I teach nothing forces anyone or twist the arm of any viewer here to pay me to join my mentorship. Many
15 00:03:14,130 --> 00:03:24,150 times I've had students come and watch this, the videos I have on this YouTube channel for free. It took multiple viewings on their part and study. But they
16 00:03:24,150 --> 00:03:33,420 found something that was their personal niche. And they have made a model out of that. And they can find consistent profitability, system setups, methodology,
17 00:03:33,420 --> 00:03:43,290 whatever you want to call it, they've made it their own. So I get lots of emails every month with individuals that are meeting their expectation and exceeding it
18 00:03:43,440 --> 00:03:54,060 just with the free level content here. So while I will be intermittently talking about periodically mentioning my mentorship, it's not a plug. Okay, so I want to
19 00:03:54,060 --> 00:04:09,000 draw a little contrast between that because what I've seen and many of you probably are seeing the same thing that there is this growing community of other
20 00:04:09,000 --> 00:04:21,600 educators becoming reviewers, other educators. Now, I have always called out every other educator out there saying hey, look, can you do what we do? Can you
21 00:04:21,600 --> 00:04:32,430 be as accurate as we are in our analysis, and it's been shocking to see how many especially in the foreign exchange market for x for short. That's kind of like
22 00:04:32,430 --> 00:04:44,160 where I settled in in 2006. Now prior to 2006, I was both forex and futures, trading e mini s&p and bond futures. And before I started dabbling with foreign
23 00:04:44,160 --> 00:04:53,520 exchange on the spot market, I was predominantly just a commodity trader and I started in 1992. So if
24 00:04:55,320 --> 00:05:05,370 any of you are like me, you probably enjoy a good ribbing. by someone that really deserves it. And you know, a lot of people in this community, the trading
25 00:05:05,370 --> 00:05:13,980 can be not just for exchange, they really deserve me tarred and feathered. Because you just know the things that they're saying are nonsense. And there's
26 00:05:13,980 --> 00:05:25,140 so image oriented to trap individuals into thinking they're much more profitable, or even profitable, for that matter, to low viewers into sending
27 00:05:25,140 --> 00:05:42,420 them money. And there are others that get more or less assaulted, verbally, or, or by way of a review video from an opinionated educator. And many of the things
28 00:05:42,420 --> 00:05:58,950 that are said, are just opinions. Okay? There's just opinions of other people. And it's hard to differentiate someone that has a service or a product, okay for
29 00:05:58,950 --> 00:06:08,610 sale. And they're pointing at other people saying, I think this person is a scam artist, this person's a scammer. This one's a scammer. And it, it slowly becomes
30 00:06:08,610 --> 00:06:21,000 obvious that these individuals are just looking to find a way to increase their own platform by hopefully reducing another person's platform. And I have been
31 00:06:21,000 --> 00:06:32,070 standing here for almost three decades, doing the same things, saying, look, this is what the markets do. You go in and investigate based on what I've taught
32 00:06:32,070 --> 00:06:38,400 you here. And you see if it's true or not, because if I'm fake, if the things I'm talking about aren't true, you're not going to see it in the marketplace,
33 00:06:38,400 --> 00:06:47,160 you're not going to see it repeating, you're not going to see any similarity whatsoever in the things I've talked about. Because I know for a fact that these
34 00:06:47,160 --> 00:06:59,310 things are true. They are very generic things that repeat over and over again. But it is opposed to 99.9% of everything else, all these other educators are
35 00:06:59,310 --> 00:07:08,220 using to justify why they take a trade. And I'm not talking about just foreign exchange traders, or educators, I'm talking about stock traders, stock option
36 00:07:08,220 --> 00:07:19,170 traders, and commodity futures traders, all of them, for whatever reason believe that their retail tools are the things that make the market move around their
37 00:07:19,170 --> 00:07:29,400 indicators push price, that type of thing. And me personally, I get a lot of flack because I stand out here all the time and ridicule everyone else. As soon
38 00:07:29,400 --> 00:07:35,400 as they put an indicator on our chart, you know, you're telling me that you don't know what you're doing. And that's just the bottom line. And it really
39 00:07:35,400 --> 00:07:44,760 rubs people the wrong way. Especially if they make money. If they make money, they swear that that's the reason why the markets moving, when it's not has
40 00:07:44,760 --> 00:07:53,430 nothing to do with why price is going up or down. Your indicator readings have nothing to do with it. So while I met in early on, when I was a commodity trader
41 00:07:53,430 --> 00:08:05,970 and I was neck deep in indicators at indicator itis I was always looking for more indicators to add to my chart. It was unsettling for me to realize that
42 00:08:06,000 --> 00:08:16,530 there's a way of looking at price and reading just price without any of that stuff and nonsense, really. And then come to a better, clearer understanding of
43 00:08:16,530 --> 00:08:25,860 what price may do in the future. Now I'm not perfect, I'm not 100%, I am not going to stand here and say I'm 100% accurate. But I have a very large community
44 00:08:25,860 --> 00:08:33,450 and they watch me do this every single week, I have to cosign and basically say what I believe is going to happen in the marketplace. And I'm only following
45 00:08:33,450 --> 00:08:42,330 predominantly the dollar index, the Euro dollar, and the pound dollar. Now occasionally I'll go in and I'll talk about other markets and E mini s&p or
46 00:08:42,330 --> 00:08:51,270 maybe the bond market or another pair, like the Aussie dollar and stuff like that. But I'm mainly looking at a very small universe of markets to look at,
47 00:08:51,450 --> 00:09:03,690 okay, and many times it's just there's three pairs, or three markets rather. And it isn't what everyone wants it to be when they when they sign up with me.
48 00:09:03,960 --> 00:09:11,460 Whereas if you look at my free content, you see me referring to all kinds of things and all different kinds of pairs and you naturally assume that I'm in
49 00:09:11,460 --> 00:09:22,110 here trading 1820 different pairs I'm not. I think that a trader should be focused and limiting their focus on one particular market maybe two at best. But
50 00:09:22,110 --> 00:09:29,250 I use the dollar index as a barometer to kind of like filter whether or not I should be a buyer or seller of Euro or pound. Now
51 00:09:31,110 --> 00:09:41,490 I have an opinion like everyone else, okay. And I have been very strong willed in the past when I was a younger man and basically stood in front of everyone
52 00:09:41,490 --> 00:09:51,720 and beat my chest and said, Come at me, bro, and see what you can do. And nobody really did that in the past. And it's still like that today. And I think
53 00:09:51,870 --> 00:10:01,170 majority of the reasons why is because most of everyone out there on social media aren't really profitable traders. And because of that Economic turn,
54 00:10:01,200 --> 00:10:14,280 because of all the illness, things in economy, you taking a dive because of all that people are really looking to do whatever they can to make money. And on
55 00:10:14,280 --> 00:10:22,560 YouTube, it's all about views. It's not about followers, it's about views. And if you can get views and you have ad revenue attached to your videos, then
56 00:10:22,560 --> 00:10:30,660 you'll make money. Now admittedly, I put ads on my videos, and I make a little bit of money. It's not a lot, but it's, it's something that gets me money to
57 00:10:30,660 --> 00:10:37,260 give to my children if they want video games or, or things to do with each month. But I certainly couldn't live off of it, let's put it that way. I don't
58 00:10:37,620 --> 00:10:49,020 make it a point to always go after someone else I have in the past, because I felt it was warranted. And I could have made this YouTube channel, a, let's
59 00:10:49,020 --> 00:10:58,260 expose everybody else. By contrast, here's what I can do. Let's see what you can do. And it's just nobody cares, okay? Really, the people that you're going to
60 00:10:58,260 --> 00:11:05,550 call out there, they're not going to be moved by it, they're not going to be compelled to, you know, show you their evidence that they can do what they're
61 00:11:05,550 --> 00:11:17,010 doing. And I believe they can't really, I mean, that's really what it boils down to. But when I see other people doing this growing trend of, okay, you're an
62 00:11:17,010 --> 00:11:28,680 educator and their videos are predominantly just calling out other people as a scammer. And they themselves have a service or a course. And they're not really
63 00:11:28,680 --> 00:11:38,040 teaching you anything on your YouTube channels. They're just basically saying, hey, you all suck. You are a dumb sheep, you are a loser trader, I bet you you
64 00:11:38,040 --> 00:11:48,810 lose trading, show me your statements. And the bottom line is, is where is the content in your YouTube channel that warrants anybody's interest in you at all,
65 00:11:48,810 --> 00:12:03,660 because at some point, it becomes simply a shouting match, you know, a you, who's, who's bigger than the next. And, to me, I've always put a lot of my time
66 00:12:03,660 --> 00:12:12,840 and effort into providing content that you as the viewers can come in, look at it, study it. If it doesn't resonate with you right away, then Hey, no harm, no
67 00:12:12,840 --> 00:12:22,170 foul, you didn't lose any money. And you found right away, that I'm not your cup of tea, and there's no real interest in pursuing anything with me. That's great.
68 00:12:22,860 --> 00:12:33,240 I have no problem with that. I've always openly said I'm not the mentor for everyone. My personality, my opinions on things are going to be very polarizing.
69 00:12:33,300 --> 00:12:43,950 And sometimes that creates this tribal or team mentality where it's team ICT against the world. Okay, when it's not the team, it's me against everyone else.
70 00:12:44,250 --> 00:12:55,290 Because what I see out here in YouTube, what I've seen on Instagram, is a lot of phony fakes, okay, and I get called out as a fake a lot. Many of times, it's
71 00:12:55,290 --> 00:13:03,330 from people that I have called out, they create sockpuppet accounts. And they'll go in and they'll make comments and make things up about it. You can go on the
72 00:13:03,330 --> 00:13:12,360 internet and look at pictures, people think I live in specific houses that look like the rundown and dilapidated. I don't live at these places. But that's the
73 00:13:12,360 --> 00:13:20,550 level that these people will go to. And as another youtuber out there, just recently put a video upset. I'm running from the feds, that's the reason why I
74 00:13:20,550 --> 00:13:32,460 don't show my face. I've tweeted my picture. I've tweeted, things that, you know, are clearly me, it's, it's me. And I've posted pictures of myself on my
75 00:13:32,460 --> 00:13:41,370 YouTube community tab. I don't think it's something that anybody should be interested in. Who cares what I look like? For whatever reason, I guess people
76 00:13:41,370 --> 00:13:49,530 get really fascinated when they want to know what you look like. But when you make malicious comments and say, hey, look, I think this person is a scammer,
77 00:13:49,830 --> 00:14:00,870 because why you didn't see me show you a Live account. Because you don't see me showing you my statements. I never came out on this platform and said, I'm going
78 00:14:00,870 --> 00:14:10,470 to show you trade signals. Because if I did that, then I would be more or less obligated to do that. Now there are other YouTubers out there that sell signals.
79 00:14:10,800 --> 00:14:19,770 And they themselves don't prove that they can call trades before they happen. So here's the thing. And this is going to connect my
80 00:14:21,270 --> 00:14:31,320 call to arms for all of you out there that are doing these YouTube channels that have a course and a service of your own. But you're also more active as a scam
81 00:14:31,320 --> 00:14:39,000 alert, okay, this person is a scammer. This person's a scammer. So, you're basically trying to make a name for yourself by calling other people fake. Now I
82 00:14:39,000 --> 00:14:46,590 can go out and say, Hey, this is what the markets going to do. This is where it's going to go to it's going to help it's going to trade there and call that
83 00:14:46,590 --> 00:14:56,190 before it happens. I can do that every single week. every single week, I can do that. Now, I cannot do that every single day with 100% accuracy. But I know when
84 00:14:56,220 --> 00:15:06,180 I can pull that trigger and do it. I have learned That all these other channels, and while they may say here, I'll show you my broker sign in into my login, and
85 00:15:06,180 --> 00:15:16,560 here's my TD Waterhouse, here's my tasty trades account, whatever. That's not the same as saying, here's what I think the markets going to do, and then watch
86 00:15:16,560 --> 00:15:24,480 and see what happens. That's what I do in front of thousands of people every single week. Now, if I was a scam artist, and I didn't know what I was talking
87 00:15:24,480 --> 00:15:36,240 about, and I failed, and I was fake, I would not know what the future's gonna likely do. And I'm in a 90% bracket with my analysis. I'm not operating as a
88 00:15:36,240 --> 00:15:46,140 signal provider, I don't tell everyone where to get in where to get out where that's not what I do. As a mentor in my mentorship program, I use what is fastly
89 00:15:46,140 --> 00:15:58,290 becoming three decades of experience. I help my viewers and students in my mentorship, navigate where the markets likely to go to next, they are taught
90 00:15:58,380 --> 00:16:10,380 these price action setups, conceptually, and they're given rules. And they're given criteria to anticipate these types of setups to form in specific market
91 00:16:10,380 --> 00:16:19,920 conditions, whether it be bullish or bearish. But if the market is in an uncertain period, where it's most likely not going to go anywhere, or it's
92 00:16:20,070 --> 00:16:29,430 highly unlikely that a high probability trade would form, then I lean on my experience and tell my community, hey, I don't think this is something we should
93 00:16:29,430 --> 00:16:40,860 be messing with right now. That's this sit on our hands. But in case it does move, this is what I believe it will do. And in those instances, I'm more apt to
94 00:16:40,860 --> 00:16:49,500 be wrong. And I tell them up front, this is an area where I'm probably going to be wrong. But I have to cosign every single time, two times a week when I sit
95 00:16:49,500 --> 00:17:03,390 with my community, but I see all this growing interest in calling everybody else out. And it's like these YouTube channels that came up years ago, then you still
96 00:17:03,390 --> 00:17:11,880 have them today. But they'll watch other people's video and put their mug on the screen. Like we want to see who they are and what they're doing. And their
97 00:17:11,880 --> 00:17:20,040 reaction they call reaction videos. And I can't stand it. That was one of the things about YouTube I hate. Okay, I can't stand that. Because what you're
98 00:17:20,040 --> 00:17:30,750 basically saying is, I have no skills, I have no talent, I have no reason to be on YouTube. But let's just watch another video and watch me carry on like a
99 00:17:30,750 --> 00:17:42,510 full. To me, that's what I see when I see other educators and other signal providers, point fingers at other people. Because if you are that good, people
100 00:17:42,510 --> 00:17:54,030 are going to recognize you on their own merit. I don't advertise. I don't go around and making YouTube videos about other YouTube videos. Okay, or YouTubers.
101 00:17:54,750 --> 00:18:03,510 I go on social media in the past and went right to their account says hey, can you do this? Can you do that? That I've done that. But for YouTube to do that,
102 00:18:03,750 --> 00:18:11,340 it just seems really low brow. And this is my opinion. And I'm I'm certainly welcome to it just like everyone else, I'm Welcome to look at what I'm saying
103 00:18:11,340 --> 00:18:20,490 here and say this is nonsense and waste of my time. But this video is really just for the people that are constant viewers of my work for someone new, maybe
104 00:18:20,490 --> 00:18:23,820 this is the first video you watch them in your price, and I ain't got time for this guy.
105 00:18:25,829 --> 00:18:36,419 It's not a big deal for someone to have an opinion. Okay, but to make your entire video library all about calling everybody else a scammer. And then when
106 00:18:36,419 --> 00:18:44,999 you see other scammers calling other people scammers, you don't want to have that heat on you. And you say well, I believe that person is highly intelligent.
107 00:18:45,689 --> 00:18:59,549 I believe this person is a good orator. When everything indicates that there's a contrary view that's easily grasped, then they believe that. And that's what I'm
108 00:18:59,549 --> 00:19:11,159 saying. So I'm waiting for this next YouTuber, to put their opinion out about me. But I would counsel you all if you all have that interest in me, you want to
109 00:19:11,159 --> 00:19:19,859 do something like that. Go through all of these videos. Because if you don't go through every single one of them and watch every single minute of them, your
110 00:19:19,859 --> 00:19:28,919 opinion doesn't matter. Because you're talking about something you don't even know. Namely myself, you have no idea what I talk about. You have no idea what I
111 00:19:28,919 --> 00:19:39,089 teach. So why should your opinion about me or the asset class that I prefer? Because I've done stock options. I've done stocks, I've done commodities, I've
112 00:19:39,089 --> 00:19:55,589 traded bonds, I've traded metals, I've traded coffee, cocoa, corn, soybeans, soybean oil, soybean meal, lumber, copper, cotton, sugar, orange juice, futures,
113 00:19:55,859 --> 00:20:04,079 pork bellies, when we used to have them but you can't trade them anymore. I've done all this stuff. Okay, I've done all of it. I've been around the block for a
114 00:20:04,079 --> 00:20:23,279 long, long time. I prefer forex, for one specific reason. It allows you to form fit risk management. Now, what does that mean? every asset class, no matter
115 00:20:23,279 --> 00:20:36,119 whether you're a stock options trader guru, okay, or if you are a commodity trader, or an index futures trader, a crypto trader, foreign exchange trader, it
116 00:20:36,119 --> 00:20:49,619 does not matter. Every single one of these asset classes incur risk. If you put your money at risk, in my opening a trade, there is a vacuum of risk free
117 00:20:49,619 --> 00:21:03,209 trading, there's always risk, always risk. There's no way to put a trade on and not have it at some point, some initial measure of risk. So as a speculator,
118 00:21:03,209 --> 00:21:17,219 whether you're trading any of these asset classes I've mentioned or the one I settled in on, you always have to deal with risk. So what I use as a medium is
119 00:21:17,249 --> 00:21:28,379 forex. Now, it's got a bad name. It's got a rat bad rap because years ago, when foreign exchange became popular, you had bucket shops open up, and they were
120 00:21:28,379 --> 00:21:37,469 doing some really unscrupulous things. They just we're just running the gamut on everyone. Opening the spread 2030 pips, I mean, it was madness. Okay. And
121 00:21:38,459 --> 00:21:49,019 admittedly, I got caught in some of those bucket shops, okay, because when it's first introduced, you think, Wow, this, I'm gonna go with that broker. I'm gonna
122 00:21:49,019 --> 00:21:58,949 go with that, because everybody was new. At that time, no one had a track record. And I got hurt with FX cm. And they ended up paying out a settlement to
123 00:21:58,949 --> 00:22:07,529 other people, and clients of theirs and in the US kicked them out. Because we can't use you in here. You got you can't operate in us. While they're still
124 00:22:07,529 --> 00:22:22,649 operating in other countries, they're not allowed to be here in the US. So all of that helps paint this tapestry of forex is impossible. It's impossible to
125 00:22:22,649 --> 00:22:32,459 make money. everybody loses money trading forex? Well, I got news for you. everybody loses trading stock options. everybody loses trading stocks, everybody
126 00:22:32,459 --> 00:22:47,789 loses commodities. everyone loses forex futures index trading, every asset class loses money. everyone loses money. Everyone, as a new trader is typically going
127 00:22:47,789 --> 00:23:00,299 to blow their account in any asset class. So it's kind of myopic, to go out and to say, all foreign exchange or Forex day traders lose money. Okay, and hear
128 00:23:00,299 --> 00:23:06,299 someone say, I have scientific it's been scientifically proven that foreign exchange day traders lose money
129 00:23:08,519 --> 00:23:19,229 that's supposes that you have access to every account on the planet. And folks, that's not happening. It's like the presidential election, you know, and all
130 00:23:19,229 --> 00:23:31,349 these suppose at polls, who's ahead, who's not? It doesn't matter what these polls say, what matters is you the trader. So if you're thinking that foreign
131 00:23:31,349 --> 00:23:42,569 exchange is impossible, into never consider doing it, okay, and you haven't gone through my YouTube videos, just do that. Because I promise you, I guarantee you,
132 00:23:43,319 --> 00:23:51,329 if you go through them, you're going to see things taught that other educators simply just don't know about. They're becoming fast learners, because they're
133 00:23:51,329 --> 00:23:59,219 taking the things that I teach here, and in my mentorship, and revamping and renaming them. So that looks like something that they came up with, but have
134 00:23:59,219 --> 00:24:09,869 been around enough people are starting to see it and they can call them out. Now. You are the only person that matters. in this industry, there are
135 00:24:10,019 --> 00:24:20,339 opportunities for you to test the theory without putting any money at risk. And you can do that with paper trading, which is hypothetically saying I would do
136 00:24:20,339 --> 00:24:26,789 this, I would do that I think the mark is going to go up here, or it's going to go down here. And it costs you nothing. There's no risk in that. And it's
137 00:24:26,789 --> 00:24:36,059 valuable insight. Then the next stage is to go to a demo account. And you trade with a demo account. And you use the things that you learn conceptually and
138 00:24:36,569 --> 00:24:47,879 practice in paper trading without actually entering pseudo or simulated entries, but a demo account, and you train yourself to view the marketplace to submit to
139 00:24:47,879 --> 00:24:56,849 the amount of time that it takes for these formations to complete. And also when they fail. You need to learn a lot about yourself. That's the unfortunate thing
140 00:24:56,849 --> 00:25:08,789 that most educators because they lack experience, real experience. They don't have a clear understanding of the huge chasm of experience that you're going to
141 00:25:08,789 --> 00:25:17,789 need the bridge from the beginning, first day, when you sit down, say, Hey, I'm going to be a trader of whatever asset class. And then when you arrive at
142 00:25:17,789 --> 00:25:26,309 whatever it is that you're going to do as a repeated model that you have faith in, it's not 100%, nobody has 100% trading model, no one, I don't have it, no
143 00:25:26,309 --> 00:25:33,929 one else has it where you're 100% accurate, never, it won't happen. Because you're going to do something, you're going to do something that's ahead of the
144 00:25:33,929 --> 00:25:44,579 time, you should have done it, do it too late, do it too much. or miss it entirely. Because you're human. That's the element of trading, that no one can
145 00:25:44,579 --> 00:25:54,179 really factor in as an educator, because we're all going to do something impulsive, or we're going to be very lazy, or we're not going to be responsive
146 00:25:54,179 --> 00:26:08,789 to the things that the market is telling us at a time when it's flashing across the screen. So if you have this test run, and proof of concept with it didn't
147 00:26:08,789 --> 00:26:18,569 cost you any money, it didn't take any money out of your pocket. And it didn't have to require you to open up an account with any specific broker. You learn
148 00:26:18,569 --> 00:26:27,539 right away that there are things that repeat, and then it builds your confidence and over a period of time, and how long will that be? It's completely unique to
149 00:26:27,539 --> 00:26:38,549 everyone. It no one has a trading plan, or a course that says everybody makes money under my teaching by this day. Because if you can prove that I'll pay you
150 00:26:38,579 --> 00:26:53,369 a million bucks. And I got it. Everybody out here cannot be scammers. Okay, everybody out here to as an educator and trader can't all be a scam artist. They
151 00:26:53,369 --> 00:27:06,419 can't be okay. Now, there may be a plethora of them. And I agree that there is but there are real people out here that are turning money from the markets. And
152 00:27:06,479 --> 00:27:18,839 for you to say that person is a scammer. Why? Because he's not showing me his personal information. How is that relevant to a skill set that's transferable?
153 00:27:19,619 --> 00:27:25,319 Because what you're saying is, unless I provide to you something that you're not entitled to see anyway,
154 00:27:26,640 --> 00:27:37,050 your opinion is paramount to everything else. And since you say that they're a scammer. Therefore, it must be true. That is a really distorted perception of
155 00:27:37,050 --> 00:27:50,550 reality. Because I believe, if someone knows how to do anything in trading, and they can do it with a pseudo or simulated account, they are proving a concept.
156 00:27:51,420 --> 00:28:03,690 Now how much money that person he or she may make with that skill set. I don't care about that. Because I understand mathematics. And if I can see a
157 00:28:03,690 --> 00:28:10,770 reoccurring pattern that repeats over and over and over again, whether it be in forex, or whether it be in stocks, or whatever. And the things that I teach are
158 00:28:10,770 --> 00:28:19,050 price action related. That means you can take this to a stock market chart, you can take it to the commodity markets, you can trade it in foreign exchange, some
159 00:28:19,050 --> 00:28:28,290 of my students swear by working in crypto, I don't personally have faith in crypto. So I have been very vocal about that asset class. And it's going to
160 00:28:28,290 --> 00:28:38,550 require a lot of things for me to ever really warm up to it. But I have a strong opinion about that. And I can see why other people still hold on to the idea
161 00:28:38,550 --> 00:28:48,750 that is very similar to how I view crypto. I have had times where my analysis and I've been public about it. I talked about the crypto market crash of Bitcoin
162 00:28:48,750 --> 00:28:56,490 at 20,000. Right before it went there. You know, the day before I said it's not going to 20,000 it's going to crash is going to go down to 6000. And it went
163 00:28:56,490 --> 00:29:08,790 there. Everybody saw I was getting laughed that okay, but it is what it is. But I had been wrong more times in my analysis with crypto. So therefore, it doesn't
164 00:29:08,790 --> 00:29:20,040 fit the models that I use to trade real currencies or fiat currencies. So until it does those similar things, I'm not going to touch it. If it ever does, then
165 00:29:20,040 --> 00:29:30,720 I'll probably be very active talking about crypto, but until then, that's the reason why I don't touch that or discuss it. I can see the opinions of other
166 00:29:30,720 --> 00:29:44,580 people that trade the futures market and say I would never touch forex, because it's it's scammy Okay, or it's this, it's that. And it's not that it's any
167 00:29:44,580 --> 00:29:53,790 different than the foreign exchange and futures You know, they're basically the same. They're basically the same. The only difference is the futures market have
168 00:29:53,820 --> 00:30:04,470 a expiration, their contract month expires, whereas the spot market just is always Right now what's the market right now, that's your cash price. So, for
169 00:30:04,470 --> 00:30:14,130 instance, if you're looking at this chart here, this is the year ago, you probably thought your chart was frozen. But I gave you a lot of introductory
170 00:30:14,310 --> 00:30:26,250 jawboning just to make the case for why I think the way I think about what I'm about to say, and then you as the viewer can go along with what I'm saying, or
171 00:30:26,250 --> 00:30:35,100 disagree with it, or agree with some of the things and disagree with other parts of it, it's up to you. And I really don't really care. Because this is one of
172 00:30:35,100 --> 00:30:45,000 those videos where it's just an opinion. And it's not something that I'm trying to, can convince anybody to do this or do that. Because ultimately, I teach how
173 00:30:45,000 --> 00:30:54,090 to trade price. And I tell my students don't trade forex. If you want to trade futures, if you're more comfortable trading with what I'm teaching you in forex,
174 00:30:54,330 --> 00:31:02,370 if you're comfortable with it in the futures market, then by all means do that. If you'd like what you've learned under my tutelage, and you think that you're
175 00:31:02,430 --> 00:31:11,700 more apt to being successful and comfortable, which is important, you have to be comfortable with the asset class, you cannot be a mentor or teacher and grab
176 00:31:11,730 --> 00:31:20,880 everybody out there that comes under your wing and say, I'm going to press you into my mode. And my mode is the best mode, nobody's going to be able to beat
177 00:31:20,880 --> 00:31:35,160 you, if you get pressed into my mode. I have lots of modes, okay. But their models, not modes, they're just foundations that you're gonna have to bring your
178 00:31:35,160 --> 00:31:43,980 own unique personality to. And it has to match also. And if it doesn't, you're going to have to keep studying my concept until you find the thing that matches.
179 00:31:44,280 --> 00:31:52,680 And I have lots of them have a lot of moving parts. But not every model, or trading approach has every facet that I teach in it, because then it's
180 00:31:52,680 --> 00:32:01,800 impossible to make a decision. But if you are learning from someone like me that I am well versed in all these asset classes, I know exactly what I'm talking
181 00:32:01,830 --> 00:32:07,920 about, I know what I'm looking for. And I know how to educate other people and transfer the information I know about them to them.
182 00:32:09,180 --> 00:32:19,860 But I'm also a realist, I know that I can't press someone that is really geared towards trading stock, even in the share capacity, not the option, just the
183 00:32:19,860 --> 00:32:27,270 shares alone. I have students that want to do that, and don't want to trade forex. I have other people that came to me as stock traders and said, you know,
184 00:32:27,270 --> 00:32:42,510 what I prefer forex, it makes more sense, are either one of those students slash traders, right or wrong. They're neither wrong. And they're both right. Because
185 00:32:42,720 --> 00:32:51,390 they have adopted a mindset about the marketplace and what they're going to do to engage with it. And it's in an asset class that is comfortable to them. You
186 00:32:51,390 --> 00:32:59,910 can't force everybody to be a day trader. I know this as an educator, I can't force people to use my short term trading models when they are really
187 00:32:59,910 --> 00:33:11,700 predisposed to be positioned swing traders. That's experience. That's something that all of these other educators out there are trying to do the opposite of
188 00:33:11,730 --> 00:33:19,590 they're trying to say, Okay, I have this magic trick, okay, I have these lines that you can put on your chart. And this is how it works. And if you only do
189 00:33:19,590 --> 00:33:30,930 this, you'll be successful in summit, sometimes in the past, people have listened to me. And in my dialogue. I've said, you know, everything else sucks,
190 00:33:30,930 --> 00:33:40,530 except for what I teach. And I still I believe that wholeheartedly, because I cut out the retail stuff. Because all that retail stuff is intended for you to
191 00:33:40,530 --> 00:33:48,390 lose money, okay, you're going to lose money. If you follow that logic, you're going to lose, guaranteed you're going to lose, you're going to lose what the
192 00:33:48,390 --> 00:33:59,490 things I teach to, but you're going to understand when you're likely to lose. So therefore, you do nothing. So that was one of the big things for me in leaving
193 00:33:59,490 --> 00:34:13,800 retail logic is I need to know what makes me lose money when I've lost it. And it was always with indicators every single time, I can find some route calls to
194 00:34:13,830 --> 00:34:24,540 that indicator or pair of indicators I was relying more on instead of the price action. But you don't have to worry about listening to someone like me saying
195 00:34:24,720 --> 00:34:35,010 you only trade forex. Because I'm a realist. I know that the things I teach also work in all these other asset classes, and you are welcome to go into any of
196 00:34:35,010 --> 00:34:45,720 those asset classes and thrive they're not struggle do very, very well. And it doesn't diminish forex, it doesn't make another asset class better than the
197 00:34:45,720 --> 00:34:58,440 other. It just means that that trader has paired up a model or trading plan with a an asset class that they're very comfortable with or they've grown to be more
198 00:34:58,440 --> 00:35:08,280 comfortable operating in So if we look at this chart here, I know, I got off on a rabbit trail, but I'm gonna make sure you understood what I was saying. The
199 00:35:08,370 --> 00:35:22,950 This is the Euro versus the US dollar. And this is a pair that's trading on many platforms out there. Okay. And there's a big push by you, people that are
200 00:35:22,950 --> 00:35:32,280 opposed to forex, and they're saying that everybody that trades forex is scamming. And anybody that's teaching is scamming, because they're using empty
201 00:35:32,280 --> 00:35:45,630 for, well, this is not empty for this is tradingview.com. And you as a trader can use platforms like forex.com, which is a regulated broker in the United
202 00:35:45,630 --> 00:35:57,840 States. Yes, it can be traded through mt four. But this is not Mt. Four, you can trade with O and O, which is another regulated broker in the United States. And
203 00:35:58,140 --> 00:36:11,400 they operate through and can be traded through mt four. I left empty for to show everybody that what I do and what I talk about, doesn't rely on what everybody
204 00:36:11,400 --> 00:36:18,480 else out there that are real scammers. And the list is long, I'm not gonna sit here and go through the list of who I believe is a scammer. If you've been with
205 00:36:18,480 --> 00:36:21,180 me for a while, you pretty much know who it is. But
206 00:36:22,590 --> 00:36:31,950 I moved away from that. As soon as it was common knowledge, everybody seen it for what it is, I mean, we all knew that it was likely to occur. But I didn't
207 00:36:31,950 --> 00:36:43,650 know how it was done. But now, Adam Webb from macro hedged, he made a video series or a couple videos and put it out on Twitter. And it's made its way and
208 00:36:43,710 --> 00:36:54,090 all around the community. And even back then, he himself was insinuating that I was doing that same thing. And listen, I have never done that, I wouldn't even
209 00:36:54,090 --> 00:37:02,760 know how to do it. Okay, and to prove that, I moved away from Mt four. And I went to tradingview. Because my community, I asked them off, they're looking at
210 00:37:02,760 --> 00:37:11,040 what's the what's the best thing right now, that would be opposed, or as far as I can possibly get away from Mt four, and then prove that what you're learning
211 00:37:11,040 --> 00:37:22,380 here is just price, it doesn't matter. I don't need to use something to gimmick, my results. So I do executions, and I teach from this platform, this is exactly
212 00:37:22,380 --> 00:37:30,420 how I teach, you can see it up here and mentorship in commentary. That's the template I use. So when I'm teaching, and I'm talking to my students, and even
213 00:37:30,420 --> 00:37:38,970 when I'm making my YouTube videos, this is the platform I'm using. So I'm not doing anything with Mt. Four, it's not dependent on that to be, quote unquote,
214 00:37:38,970 --> 00:37:49,980 successful. But this pair, if we were looking at this euro versus the US dollar as a commodity, it would be seen as this, okay, and this is the same 15 minute
215 00:37:50,010 --> 00:37:59,070 timeframe. But this is the Euro futures contract, and it's the delivery contract month of december 2020. Now, I want you to look at this price action in here,
216 00:37:59,160 --> 00:38:08,220 okay, see this price run there. This is a pattern that I teach. And you can actually find this pattern on this YouTube channel. You don't have to pay me for
217 00:38:08,220 --> 00:38:24,900 it. It's taught for free right here in this YouTube channel. Okay? What makes this futures contract any different than this? currency in forex, now, you
218 00:38:24,900 --> 00:38:35,340 probably don't see the the actual market move that I'm showing you on the futures contract chart, I'll get to that in a second. But this fluctuating
219 00:38:35,370 --> 00:38:47,370 higher and lower. It's basically the same underlying market moves. There's a slight difference in the delivery, but it's not so gross that I would never
220 00:38:47,370 --> 00:38:56,790 trade that. For instance, let's just say for instance, that this old high here, you felt that, you know, price could eventually come back down to that and act
221 00:38:56,790 --> 00:39:05,130 as what we'll call classic support resistance. Now, I don't personally subscribe to that. What I'm about to show you, there's other things, and I teach these
222 00:39:05,130 --> 00:39:14,880 things in this YouTube channel. But we'll just keep it very simple and say that that high right there, you're going to view that as resistance broken, and maybe
223 00:39:14,880 --> 00:39:24,330 it comes back down and gives you kind of a reaction to trade off. So we're going to scrub forward in time. And you can see that same price action move, let me
224 00:39:24,330 --> 00:39:35,190 take it off, so you can see it clearly. Okay, all of this. This is the foreign exchange pair, Euro versus the US dollar. And here's that same move in the
225 00:39:35,190 --> 00:39:48,120 futures contract for the euro. There's no difference in that. It's the same thing there. It is here. It's the same price swing. So why do I prefer forex
226 00:39:48,150 --> 00:39:58,800 over futures? Well, if you were looking at this market here and you were only going to trade the futures market, if you're trading with futures, if you go
227 00:39:58,800 --> 00:40:03,420 over to The Chicago Mercantile Exchange, this
228 00:40:05,130 --> 00:40:19,200 exchange gives you your margin required to trade the Euro futures. to trade that you need to have $2,900 per contract. Now, that's a standard lot. So you're
229 00:40:19,200 --> 00:40:34,890 looking at controlling $125,000 worth of the currency, or what we would see in forex, the equivalent of $12 and 50 cents per Pip. Now they do offer minis, and
230 00:40:34,890 --> 00:40:50,160 the leverage goes down to 1450. But even then, it's still sometimes out of the reach of developing traders. So and I also state when it's appropriate, and when
231 00:40:50,160 --> 00:40:58,740 is it appropriate when the student decides I never tell someone, you're ready to be trading live funds, because, frankly, that's financial advice. And I don't
232 00:40:58,740 --> 00:41:08,460 give financial advice, I give price action education. Now, there's a strong difference between that, okay, if I made this YouTube video, or this YouTube
233 00:41:08,460 --> 00:41:22,590 channel, or I sold my mentorship as a trading signal, providing service, okay, or follow me type trading, then yes, I would absolutely be obligated to provide
234 00:41:22,590 --> 00:41:30,450 a track record to show it with live funds and have to be licensed to do so and be a commodity trade advisor. None of those things I'm interested in because not
235 00:41:30,450 --> 00:41:41,280 because I can't do it, because it's such a tedious thing. And also, I have introduced an element that I am completely opposed to just look at the world
236 00:41:41,280 --> 00:41:52,800 today, everybody's blaming everybody for something going wrong. And nobody takes personal responsibility. So in trading, if you've been in this industry at any
237 00:41:52,800 --> 00:42:01,410 length of time, for ever traded with live money, you know exactly what I'm referring to when it comes to responsibility. When you lose, you want to blame
238 00:42:01,410 --> 00:42:08,100 the broker, you want to blame the report that came out, you want to blame the platform, you want to believe the methodology that you're using, you want to
239 00:42:08,100 --> 00:42:17,040 blame the person that taught you or you bought the book from, or the course from, or the person you copied and had no idea why you're taking the trade. But
240 00:42:17,040 --> 00:42:24,090 they got a big following on social media. They said they were buying this, they were selling that. So therefore you did it. And when it doesn't work out, who
241 00:42:24,240 --> 00:42:36,600 owns the responsibility in net? Now think if you were honest, you'd be saying you have in the past, look to other outside sources for responsibility. You
242 00:42:36,600 --> 00:42:46,590 don't want to take the responsibility for that. But when you when, if all those things were equal, and you looked at other things to influence you taking that
243 00:42:46,590 --> 00:42:56,400 trade, it wasn't your decision, something else made you take that trade. When you have that happen, and it wins. Who gets the responsibility for that trade?
244 00:42:57,030 --> 00:43:05,670 Well, naturally you do. Because guess what, you've made money. And the people that you've copied, or the people that gave you inspiration, or told us
245 00:43:05,670 --> 00:43:14,940 basically what to do, they don't get the credit. They don't deserve that credit, because you made money. So your subconscious is saying, You're smart. You made
246 00:43:14,940 --> 00:43:27,030 that money. You deserve all the respect and adoration. And you own that responsibility. If I was an educator that said, Whoa, we're going to do this
247 00:43:27,030 --> 00:43:35,250 with live funds. And someone does something wrong, because it's going to happen. I mentioned earlier in the video, you're going to hemin Hall, you're going to
248 00:43:35,250 --> 00:43:43,800 wait, you're going to think oh, he said he's buying Let me see if it's really going to start going up and it shoots up 20 pips and then then you buy. And then
249 00:43:43,860 --> 00:43:53,550 once you get in, there's a natural retracement of 12 to 15 pips. And that can happen and that's perfectly normal. But you start freaking out and you can't
250 00:43:53,550 --> 00:44:01,260 stay in it, you get out of the trade, you lost it in the trade goes in the intended direction. Who are you going to fault who's going to get the
251 00:44:01,260 --> 00:44:13,170 responsibility late in their lap when you lost money? The person that taught you and I am not subjecting myself to that, because human beings by nature are
252 00:44:13,380 --> 00:44:25,500 pathetic individuals, okay? They're just nasty creatures. They don't take responsibility for anything. They aren't considered by nature. And we are all
253 00:44:25,500 --> 00:44:38,220 monsters, pretending to be pleasant. So I would never open myself up again, to telling people because I've done this in the past. But I would never do that
254 00:44:38,220 --> 00:44:46,860 again. And that's the reason why I make it very clear to my community, that what I teach is price action. That's it. I'm not going to give you trades. I'm not
255 00:44:46,860 --> 00:44:55,770 going to tell you when to buy and sell. And I want the people that don't like that to scoff and walk away immediately because that's exactly what I want
256 00:44:55,800 --> 00:44:58,500 because that mindset I can't help people like that.
257 00:44:59,640 --> 00:45:09,150 The people that come to me and they say, you know what, he understands risk. Because for me to operate as a trade advisor, when I'm not licensed to do so, is
258 00:45:09,150 --> 00:45:18,480 considerable risk. And I like my students. In fact, I love them, I care about them. And I'm not talking about just the mentorship people that pay me, I'm
259 00:45:18,480 --> 00:45:29,760 talking about all of my students, because you trust me enough to give me your time. And time is extremely expensive. And I'm honest, and I tell you, all
260 00:45:29,910 --> 00:45:41,280 right, from Jump Street, this is going to take you more time to learn than you want it to, it's going to be more time involved, and more work than you ever
261 00:45:41,280 --> 00:45:53,160 imagined. But if you stick to it, you will be able to operate in these markets with a level of precision that is an unrivaled, and I don't care who tells you
262 00:45:53,160 --> 00:46:07,350 otherwise. Now, does that equate to making money? Truthfully, no, that's not the same as profitable trading. But you cannot reasonably expect to trade profitably
263 00:46:07,410 --> 00:46:16,950 without having a model that is well written, designed, that you understand front, the back, you know exactly what it is that you would be doing when you
264 00:46:16,950 --> 00:46:26,640 won't be doing something, when you have to wait, how you are going to manage risk all these factors, they cannot be minimized to a couple hour video course,
265 00:46:26,910 --> 00:46:36,030 you can't do that, folks, you need to see what it's like to be in a setting where the markets are not likely to do anything. Or, as I teach at Seek and
266 00:46:36,030 --> 00:46:46,440 Destroy, where it just goes up and down, chops everything up. And it may look like there's setups there. But it's not. And that's experience. And that's what
267 00:46:46,440 --> 00:46:57,720 I present as mentorship, I am a guide. everybody learns my concepts and tools. And then I say, this is what the markets likely to go to next. So therefore, you
268 00:46:57,720 --> 00:47:06,450 immediately remove the idea of half of the things you learn and only focus in on that side of the marketplace. And then you look for the pattern that you like
269 00:47:06,450 --> 00:47:18,720 most. And I can show you dozens of ways to get in the same price action move. It doesn't mean one's better than the other, it just means that you're I, as a
270 00:47:18,750 --> 00:47:27,510 developing student is going to be drawn to one particular approach to trading the same price action move that's occurring in everybody's charts all around the
271 00:47:27,510 --> 00:47:37,890 world, we have different ways to interpret that price action and get in, we don't have to be in the lowest low, we don't have to be in you at any one
272 00:47:37,890 --> 00:47:46,260 particular level, or we've missed it, like many other ways of trading is like if you miss their setup, then you have to sit on the sidelines, we don't have that
273 00:47:46,260 --> 00:47:55,980 problem. And we're not chasing price to do it either. There are things that are very logical, and I explained this, but you can't learn it all in a couple
274 00:47:55,980 --> 00:48:08,490 videos. And you can't learn and rely on your infancy as a trader and expect the results that you want by joining a service. In other words, I can give you an A
275 00:48:08,970 --> 00:48:23,400 ar 15 and say, Hey, here you have an AR 15 you are loaded and deadly. But it would be irresponsible for me to do that with any of you. And that you run
276 00:48:23,400 --> 00:48:32,730 around. Because you'd be shooting yourself or shooting other people and not hit your target. Many of you would be afraid to pull the trigger that the recoil of
277 00:48:32,730 --> 00:48:44,550 it would scare you. So you have to work with knowing what it feels like to hold the firearm without any ammunition, holding it, cleaning it taking care of it,
278 00:48:44,580 --> 00:48:52,080 setting it up, and then getting used to that. And then at some point, you get ammunition. And under some of your probably anti gun, you're thinking well, this
279 00:48:52,080 --> 00:49:03,540 is probably not the best, you know, example or analogy. But it's the first thing I went with books and give me a break. The point is this. If you are a trader,
280 00:49:05,190 --> 00:49:14,820 in the making or aspiring to be you have to be under the tutelage of someone that knows number one how to do it, and has a ability to be more right than
281 00:49:14,820 --> 00:49:31,500 wrong. And if they can't show you any substance, to why they believe the things that they do, and teach our number one true, there's some substance to it.
282 00:49:31,500 --> 00:49:44,220 There's it's proven valid. It's not a conjecture, it's something that can be seen, back tested, measured, how often it creates forms. That's what I've
283 00:49:44,310 --> 00:49:53,010 basically posed to everyone in this YouTube channel. I've put out content I put courses together and it's information that every single person that's ever
284 00:49:53,010 --> 00:50:01,650 really went into and roll their sleeves up said I'm going to get into this. They have become addicted because it's something They can see in their charts Now,
285 00:50:02,190 --> 00:50:10,410 that doesn't mean that they're in there buying and selling and killing it right away, it just means that they understand what's likely to happen next. And
286 00:50:10,410 --> 00:50:19,920 they're developing more of an experience and an understanding of what it is that should take place. That's that submission to time. And it's going to be
287 00:50:19,920 --> 00:50:28,890 different from all of you. And many times people just are completely opposed to that. And they are just like, you know, I want to learn how to trade I want to
288 00:50:29,160 --> 00:50:36,690 get through all of ICT videos. And the common thing is these lazy folks, okay? They sit around and chat rooms. They're all like, Hey, can you just show me the
289 00:50:36,690 --> 00:50:46,740 video? Or what's the where's the video on what part of the video ICT talks about mitigation blocks? I just need to know where the order blocks are. That's those
290 00:50:46,740 --> 00:50:57,510 people will never make it. And it to me, I think that that's what most of these reviewers, okay, that are dealing with their failed traders, okay, they're
291 00:50:57,510 --> 00:51:07,050 traders that aren't doing very well. And or they may modestly make money here and there. But they're trying to push their service. Because if their service
292 00:51:07,050 --> 00:51:15,150 was any good, it would grow organically. And if you're trying to make a case to say, hey, look, this person is fake. That person is a scammer. And that person
293 00:51:15,150 --> 00:51:25,890 is a scammer. And oh, yeah, by the way, I do have something for sale, too. But you're not giving anything to the community to weigh that out of any value. It
294 00:51:25,890 --> 00:51:35,400 just looks poor, it looks really bad. And it's not my opinion, it's just common sense how many times you need to be saying someone else sucks, and you not
295 00:51:35,400 --> 00:51:48,570 provide anything to prove there's any real reason to listen to you. So I just pose that as a, a means of personal reflection for everybody out there that's
296 00:51:48,570 --> 00:52:01,710 doing these types of things. If we were looking at trading this same euro trade, okay, and we wanted to do it with foreign exchange, I don't require and a trader
297 00:52:01,950 --> 00:52:11,820 out there would not require $1,450, let's say the person doesn't have that much money. They're on a very low budget, but they want to slowly add to their
298 00:52:11,820 --> 00:52:20,460 account, maybe they made up a budget where they can add new $25 a week, or maybe, you know, $25 a month, because they're just simply not in a position
299 00:52:20,460 --> 00:52:28,980 where they can afford to do it. Let's be honest, folks. I mean, look at the state of 2020 right now, a lot of people lost their jobs. A lot of people lost
300 00:52:29,010 --> 00:52:39,960 hours of their jobs, they still keep. So everybody's been affected by this. You know, I'm I have an affluent lifestyle, but I still have been affected. I'm
301 00:52:39,960 --> 00:52:49,350 taking care of family members that I didn't normally have to take care of. And I'm not complaining, I'm I'm honored to be able to do so. And I'm glad the Lord
302 00:52:49,350 --> 00:53:01,290 has blessed me. So I could do that. But not everybody can afford to trade these full futures contracts. Not everybody can afford to meet the minimum thresholds
303 00:53:02,040 --> 00:53:10,200 of these brokerages. You know, everybody says, Yeah, you got to be on a regulated platform. Well, forex.com is a regular platform, it's regulated by the
304 00:53:10,200 --> 00:53:20,010 Commodity Futures Trading Commission, how much more regulated you gotta get. I mean, they're regulated. let forex.com do the things that FX cm did, and see how
305 00:53:20,010 --> 00:53:29,820 long they stay in business. It just isn't gonna happen. They understand. And they made it an example of FX cm as a forex bucket shop. So if
306 00:53:30,750 --> 00:53:39,120 you spent the time to learn how to do the things that I teach on this YouTube channel, or even in the mentorship, but you don't have the money to pony up to
307 00:53:39,120 --> 00:53:47,400 do a trade like this in the futures market, what can you do? Well, forex.com, if you just simply google this, I'll put this on the screen so you can see it.
308 00:53:47,460 --> 00:53:57,330 Okay. It's amazing how many people have all these ideas or opinions, but they never even used Google. Okay, it's crazy. But you know, what's the minimum
309 00:53:57,390 --> 00:54:06,120 deposit for forex.com? Well, then the minimum initial deposit required is at least 100 of your selected base currency. So if you had $100, in the United
310 00:54:06,120 --> 00:54:14,730 States, you can open up an account with forex.com. And I know right away some of you're like, ah, what's $100 gonna do? Well, first of all, if you ever make the
311 00:54:14,730 --> 00:54:27,990 transition from trading paper, to demo to live trading, that's a huge jump in mindset, whatever you've done in your demo account, that's just preparing you to
312 00:54:27,990 --> 00:54:37,050 follow rules, but now you're going to really start learning because there's money involved. And what happens is, you want to use the least amount of money
313 00:54:37,050 --> 00:54:47,460 as possibly can, period and the story that's, that's the way it is. Now, I think, personally, if anybody ever traded with live funds, they should do so
314 00:54:47,460 --> 00:54:58,320 with about $300 $300 is three times when the minimum is and why 300 because you're gonna make a lot of mistakes. You're gonna you're gonna look at taking a
315 00:54:58,320 --> 00:55:10,980 trade and say the first trade you take And you're only trading at 10 cents per Pip. Okay? If it moves 30 pips in your favor, you've made $3. Now that $3 is not
316 00:55:10,980 --> 00:55:18,690 going to change your lifestyle. But if you lose $3, it's not going to change your lifestyle either. But guess what it's going to do internally, you're going
317 00:55:18,690 --> 00:55:26,910 to hate the fact that you lost. And then you're going to be tested because you're now you're losing, you're losing real money, but you're losing two. And
318 00:55:26,910 --> 00:55:40,650 now you don't have $300. In your account. You have $297 in your account. And there's the first test, can you assume a loss in it not with you out? Are you
319 00:55:40,650 --> 00:55:47,820 losing your mind having a conniption fit, because you'd lost on that same trade that you would have lost on a demo account, but it didn't feel like anything.
320 00:55:48,660 --> 00:55:58,020 But the role, say, take the next setup with this, this, this and this. But when you now have money in there, it becomes very competitive, where it's not
321 00:55:58,020 --> 00:56:07,920 competitive as a demo trader, it's highly dependent on you performing exceedingly well, when now there's money. And that's why I don't believe that
322 00:56:07,920 --> 00:56:19,020 people learn conceptually, and get to the point where they're so bored with finding the setups in demo, that to me, I think is the deciding factor when
323 00:56:19,020 --> 00:56:29,010 someone would ever consider taking a leap from demo to live fun trading, when you can consistently find setups every single week, not every day, because day
324 00:56:29,010 --> 00:56:35,970 trading is not every day trading. But when you can find setups that repeat over and over and over again, and you're able to find a few of them each week, and
325 00:56:35,970 --> 00:56:42,900 you're bored while you're waiting for them. And when you engage them, you're just you're not, you're indifferent to whether it works for you or not. You
326 00:56:42,900 --> 00:56:50,280 believe that's going to work, but you're indifferent to the outcome, you don't really have an opinion, whether it's a good thing or a bad thing, it's just
327 00:56:50,310 --> 00:56:59,820 another transaction. It's just like going to work. You doing it because this is the process, you go there, do your task, and you come home safely. And you do
328 00:56:59,820 --> 00:57:07,380 that for five days in a row. Generally, you get a paycheck at the end of the week. Okay, it's that process that mindset, but you just don't have that when
329 00:57:07,380 --> 00:57:18,300 you go from demo into Live account trading, even no matter how small the account balance may be at the initial start, that transition creates a competitive
330 00:57:18,510 --> 00:57:29,520 switch in your mind that hey, now it's game time. And we may laugh and snicker and think you know, we're talking about 10 cents per Pip. It's nothing, it's
331 00:57:29,520 --> 00:57:42,180 insignificant. Wait till you do it. Wait till you do it, that 10 cents per PIP is going to feel like $100 to you in terms of being right or wrong. You want it
332 00:57:42,180 --> 00:57:49,800 to be right all the time. Because what's going to happen in your brain, okay, all these little chemical responses gonna start firing off. And when it's moving
333 00:57:49,800 --> 00:58:02,040 in your favor, even if it's only up $1 50 or whatever, you're gonna Yeah, because if this was $10 per Pip, that's the stuff that people go through. And
334 00:58:02,850 --> 00:58:14,520 they rush through that part. And they blow their account. And they're part of the statistics that most traders not all most traders blow their account in the
335 00:58:14,520 --> 00:58:24,990 first 90 days, most of them actually in the first 30 days. Because they're not equipped to deal with the competitive nature of live fund trading. Who are they
336 00:58:24,990 --> 00:58:28,800 competing with? By the way? If you trade with live funds, who are you competing with?
337 00:58:29,490 --> 00:58:37,680 They'll say, oh, you're competing with the broker, or you're competing with the smart money. You're competing with yourself. Because you can do everything
338 00:58:37,680 --> 00:58:46,770 right. But if you don't have the mindset correct, and you think about what you're doing correctly, you'll, it'll be self defeating, you'll destroy yourself
339 00:58:46,770 --> 00:58:58,470 and blow the account out. You have to have a very clear idea about what it is you're doing. And do so responsibly, in starting with the least amount of money.
340 00:58:59,130 --> 00:59:10,140 And while this example and suggest in my part of $300 is not the minimum because it's three times out here just gives you wiggle room. Okay, but let's go back
341 00:59:10,170 --> 00:59:21,330 and look at this for x pair here. And I'll add the annotations back. And let's just say you were using my optimal trade entry pattern it's taught freely on
342 00:59:21,330 --> 00:59:32,430 this YouTube video channel. This level here, optimal trade entry between 62 and 70 retracement level and you add to spread to it. We added five pips For this
343 00:59:32,430 --> 00:59:44,970 example, buying here using a 15 PIP stop loss. your $300 account if you got stopped out went down here would be sitting at $297. But if it goes to your
344 00:59:44,970 --> 00:59:54,720 swing objective of negative three on the fib and you learn this also on this YouTube channel for free, they get to that level it does so here you would have
345 00:59:56,070 --> 01:00:13,470 4.5% For a little bit above that, so that might not be a whole lot to see $13 and 72 cents on one trade. But that is four and a half percent folks, you
346 01:00:13,470 --> 01:00:24,480 realize that if you just did that every single month, you would be killing it by all industry standards. But that's not what's taught to people in trading.
347 01:00:24,600 --> 01:00:33,720 That's not what is taught by forex gurus, they're taught that you have to double and triple your account, you got to flip your account weekly, monthly. And while
348 01:00:33,720 --> 01:00:47,040 that is possible, it can be done. It's not something that you should aspire to do. Because if you can consistently build this type of return, using relatively
349 01:00:47,040 --> 01:01:07,140 low risk, I mean, if you look at what's being shown here, the risk is 1%. The entry price is this. The stop losses this in a target is here, 300 hours of the
350 01:01:07,140 --> 01:01:17,760 account balance assumed using 1% risk, I think anyone starting out trading with 2% is nuts. Because you're assuming that you're way better than you really are.
351 01:01:18,060 --> 01:01:29,160 And then maybe in this example, here, 1% is probably still too high. In fact, it really is if you're a new trader, but you have to grow accustomed to seeing
352 01:01:29,250 --> 01:01:48,180 risk, you have to see it and handle it, work with it. And it might not be exciting to see it like this. But this is how you grow. This is how you build
353 01:01:48,180 --> 01:02:00,060 it. And this same four and a half percent. If you get to the point where you can grow to $100,000 account, that's 4.5% or 40 $500 for that month. And if you do
354 01:02:00,060 --> 01:02:09,420 that consistently, every single month, or net that afterwards, in order that you go through your your win and lose winning loose cycle that everybody goes
355 01:02:09,420 --> 01:02:25,410 through your results would be way above standard expectations. This industry, you know, they would consider 20 25% a year a banner year. Like that's it,
356 01:02:25,410 --> 01:02:36,720 that's a phenomenal rate of return. And to put down something like this, when it's just one intraday day trade it a level that makes logical sense to get a
357 01:02:36,720 --> 01:02:44,940 bounce, you're not trying to, you know, call the bottom of the marketplace, you're not trying to capture 1000 pips, you're trying to get in there take a
358 01:02:44,940 --> 01:02:59,790 surgical strike in and get out. Who could complain that this would be a bad return or rate of return. It's at a time of the day I teach, which is London
359 01:02:59,790 --> 01:03:07,410 open, it creates the higher the low of the day there. If it's a bullish likely scenario, then it's probably gonna perform the low the day, don't take my word
360 01:03:07,410 --> 01:03:20,160 on that folks, don't take my word, go into the videos, and you'll hear me teach that it length in detail. But to listen to other people say
361 01:03:20,340 --> 01:03:29,490 their asset classes the best and everybody else's sucks or specifically forex, that's too myopic of a view. And that, to me, this speaks volumes about number
362 01:03:29,490 --> 01:03:39,570 one them as a trader, and immediately raises the question of what's the ulterior motive here, okay, because if I hear someone that's highly opinionated like
363 01:03:39,570 --> 01:03:54,120 that, they're selling something. They're selling something, they have something that they want you to think is superior to that. And the folks that I have
364 01:03:54,930 --> 01:04:06,210 brought into forex, by, you know, bringing their interest into forex, the majority of them would never consider listening to anyone else, because the
365 01:04:06,210 --> 01:04:15,660 things that they see me teach them, they're easy to spot. They're generic, they repeat over and over again, because it's based around the market themselves, you
366 01:04:15,660 --> 01:04:30,240 are not going to find the signatures in price to the level of that is found in forex, forex has these characteristics are very, very, very specific. Now, a lot
367 01:04:30,240 --> 01:04:44,910 of the generic macro elements are applicable to stocks, commodities, crypto, you know, metals and all that in oil. But forex has these little signatures in price
368 01:04:45,000 --> 01:04:54,360 that repeat over and over again that are very specific to it. And when my students see this, and then they start testing it in hindsight, and then they
369 01:04:54,360 --> 01:05:03,870 find going forward using the rules that it just like it supposed to be. It's like it's going pletely scripted, because it is, all of these markets are
370 01:05:03,870 --> 01:05:16,020 scripted, they're controlled 100%. That's unsettling that bothers people when they hear it, and they think, oh, he's full of mess. It's $5 trillion industry,
371 01:05:16,140 --> 01:05:23,790 how could it possibly be controlled? Well, my counter argument would be, why would any country leave it up to speculators whether or not the currency is
372 01:05:23,790 --> 01:05:32,640 going to stay where it's at? Think about it, folks. It's just common sense. And maybe this is something that would have came up if we were friends, and you came
373 01:05:32,640 --> 01:05:43,200 over to my house, or I came over to your house. And it was this conversation about what people think, and how my opinion fits in all of that. And my opinion,
374 01:05:43,470 --> 01:05:54,510 let's just be honest, my opinion doesn't matter. My opinion, is my own. My belief is people should have an objective view, and a certain measure of
375 01:05:54,510 --> 01:06:03,660 tolerance. Okay, why I believe everybody else trading what they trade is something that I would never ever do. Like, I would not rely on any retail
376 01:06:03,660 --> 01:06:14,280 logic, I would not trade certain asset classes like crypto. But I understand and respect those people that do it, because they have found some way of doing it.
377 01:06:14,850 --> 01:06:25,380 And who am I to say, if they're making money, or they found a niche in that? What business do I have saying, they're stupid for doing so or they suck or
378 01:06:25,380 --> 01:06:35,310 they're a scammer? I'm not spending their money. I can't spend their money. And I know that they're not going to spend money. So what difference does it make?
379 01:06:35,880 --> 01:06:44,910 If someone has anything of value, and you have a YouTube channel, share that good stuff. Now, you don't have to give all your secrets if you have a service,
380 01:06:45,300 --> 01:06:56,220 but put out there, you know, a little bit to let people see that your opinion should be even considered. Because in this industry, we all know that it's toxic
381 01:06:56,280 --> 01:07:07,680 as a lot a lot of fraudulent activity, people pretending to be profitable or not. And I stand on the basis of price action. That's it. That's what I do. And
382 01:07:07,680 --> 01:07:15,390 sometimes that completely rubs people the wrong way. If you're so good, why don't you show me your bank accounts? Why don't you show me your statements? And
383 01:07:15,660 --> 01:07:25,530 why don't you show me a Live account? And once you do this? How about you just watch me call the markets. Okay? If I couldn't outline something, or anyone for
384 01:07:25,530 --> 01:07:35,880 that matter, couldn't outline in detail with specific concepts, why it should do this or that in charts. And it doesn't come to fruition? Doesn't that pretty
385 01:07:35,880 --> 01:07:47,700 much say? What it is that people would need to know that there is no validity to the things that you're peddling. And that's why I put so much effort into my
386 01:07:47,700 --> 01:07:58,440 videos, before I created this mentorship, I wasn't selling anything. I was just trading. But when I saw people around the world, taking my free lessons, and
387 01:07:58,440 --> 01:08:11,100 then selling them to people that really got under my skin. And I have a lot more to teach. And I just didn't want anybody else getting credit for something that
388 01:08:11,100 --> 01:08:16,680 was gifted to me. And it took a lot for me to get this to learn how to do it.
389 01:08:17,520 --> 01:08:27,960 And I've been blessed to receive it. But nobody deserves the credit. Apart from me, because when people come to me, I may say, I believe I'm the best trader.
390 01:08:28,530 --> 01:08:41,550 But when I say that, I want you to clearly Listen to me, okay? When I say on the best, it's not because I myself made myself the best. I believe I'm equipped by
391 01:08:41,550 --> 01:08:52,110 God. I believe everything that we receive in our lives that is good comes from him. Now you may not believe in God, and that's fine. But I do. And I don't go
392 01:08:52,110 --> 01:09:03,900 after people that say they don't believe in him. I believe it's a personal relationship that, you know, either you have it or you don't. And I know that
393 01:09:03,900 --> 01:09:15,270 there's no way on Earth, that I would have figured this stuff out. It would have not ever happened, had he not intervened. And he's continuously intervened. And
394 01:09:15,270 --> 01:09:24,510 every time I sit down with my students, before I do so, I pray and I say look, you know, give me wisdom, help me guide them so they don't get hurt. And let
395 01:09:24,510 --> 01:09:34,470 them receive something that you know is intended for them. And that's how I do everything. And if it doesn't fit your expectations, or if you don't like that
396 01:09:34,470 --> 01:09:42,270 type of thing, or it doesn't resonate with you, you know, God bless you anyway. You know, I'm sure if you look hard enough, you'll find somebody out there. And
397 01:09:42,270 --> 01:09:51,630 I do it all the time. If you don't like me, look at Chris Laurie. You know, he, he teaches price action. He doesn't teach what I teach, but I seen some of the
398 01:09:51,630 --> 01:10:01,380 things that he does. And I think it's noteworthy. So you can look at a lot of his stuff. It's for free too. He has something that paid. I don't know
399 01:10:01,380 --> 01:10:10,590 everything he teaches in this paid stuff. But there are other people out there besides ICT that can make money and can also teach. And just because they don't
400 01:10:10,590 --> 01:10:20,790 dance to your drum beat doesn't make them a scammer. If they're certainly willing to show you things in great detail before you even pay them a penny,
401 01:10:21,690 --> 01:10:30,000 then maybe they have something that's worth listening to. Maybe you learn something from this video, maybe you didn't. But I answered the question is why
402 01:10:30,000 --> 01:10:42,570 I think forex is better because you can frame it and make the risk specific to you. And having 20 cents per Pip. Okay, that's what this equates to 20 cents per
403 01:10:42,570 --> 01:10:52,080 Pip. You can't really frame that with futures market. It doesn't allow you to do that. Okay. So I think that's a benefit by trading forex, because you can scale
404 01:10:52,080 --> 01:11:02,670 your money management more appropriate to your equity base. And you can do that throughout your career. Where you as you're a trader in forex, or if you're a
405 01:11:02,670 --> 01:11:12,180 stock option trader, you have to pay the premiums and use the vehicles. In the multipliers for the option lower. It's like it's a multiplier of 100. So
406 01:11:12,180 --> 01:11:21,030 whenever you pay the premium, say the premium was 4.5. That option costs you $450 plus commission. What if you don't have that? What if that's basically 90%
407 01:11:21,030 --> 01:11:28,170 of your account balance, you can't do the trade you got to do something else. Wait for something else. Well, with forex, you can find setups a couple times a
408 01:11:28,170 --> 01:11:36,600 week. And it doesn't matter as long as you have what I'm outlining here, in terms of acuity bass as low as $300. You can still find setups and build the
409 01:11:36,600 --> 01:11:45,060 account. And you know it takes time, but you're learning how to do it appropriately. Till Talk to you next time. wish good luck and good trading.