Skip to Content

ICT YT - 2022-01-22 - ICT Mentorship 2022 Episode 2.srt

Last modified by Drunk Monkey on 2022-01-22 08:38
1 00:00:13,139 --> 00:00:24,449 ICT: Our books. Well, we're here to technically this is the first teaching, give you guys an introduction video. Obviously, if you haven't watched that one yet,
2 00:00:24,449 --> 00:00:34,619 go to the playlist on my YouTube channel. And please watch that one because it'll help at least establish the, in my opinion, the proper expectations, that
3 00:00:34,619 --> 00:00:43,649 way you understand what you're getting involved with here. And at least it gives me a chance to kind of like break the ice and show you the contrast of what you
4 00:00:43,649 --> 00:00:58,979 may be expecting versus what I intend to deliver. Alright, so this first installment is going to be elements to a trade setup. Alright, so coming out of
5 00:00:58,979 --> 00:01:10,559 the gate, this will let you know that this is predominantly going to be a futures index, trading mentorship, okay. The idea is going to be presented in
6 00:01:10,559 --> 00:01:24,509 the scope of paper trading on trading view.com. But what you're looking at here, this is thinker swims live data, these are actual executions I made today. And I
7 00:01:24,509 --> 00:01:35,099 want you to compare and contrast with what you see on YouTube and other educators where they'll tell that they can do this and they can do that. But
8 00:01:35,339 --> 00:01:47,369 really, I want you to compare and contrast what you see here. Alright, so we're looking at intraday price action for NASDAQ emini futures. And this is actually
9 00:01:47,999 --> 00:02:03,179 the main focus of this mentorship. Okay, I believe that this market is worth studying, I believe it is not just limited to NASDAQ. But I believe it's useful
10 00:02:04,379 --> 00:02:16,829 to learn as a trader, the views, obviously, the E Mini s&p, the E Mini Dow future, and the E Mini NASDAQ. Now, E Mini NASDAQ is a little bit faster, a
11 00:02:16,829 --> 00:02:29,819 little bit more aggressive. And even with that, you can still trade it. So I want you to think about what it means to watch price action and understand what
12 00:02:29,819 --> 00:02:38,789 it's likely to do before it does it now, I'm not promising you're gonna be able to do that right out the gate. But I'm going to show you is the Compare and
13 00:02:38,789 --> 00:02:49,709 contrast to how I can trade versus what I'm promising to teach you in this mentorship. How to find specific setups in your demo account, okay, or your
14 00:02:49,709 --> 00:02:59,609 paper trading account. I'm not trying to entice you to trade with live funds, okay, so that we know this going in the teachings will be predominantly through
15 00:02:59,609 --> 00:03:12,239 the scope of tradingview.com paper trading module or just hindsight data. Now already know some of your here we go the hindsight guy. Well, what you're
16 00:03:12,239 --> 00:03:23,579 looking at here is actually live executions from today. Okay. And I want you to think about if you were able to trade a micro account, and you were trading the
17 00:03:23,579 --> 00:03:35,519 NASDAQ, and you're able to capture just one of these moves, which one would you like to learn how to find, obviously, probably look at this, and they go, I'd
18 00:03:35,519 --> 00:03:46,109 like to do all of them. But I want you to think about which one really stands out off the entire chart, this is a one minute chart, which one really stands
19 00:03:46,109 --> 00:03:59,309 out, I'll give you a moment, you can pause the video and unpause it when you're ready. Something you folks never ever pause it. Alright, so obviously, we can
20 00:03:59,309 --> 00:04:12,329 see how the market moves from here. Okay, to orders executed here, whenever you see this, this is actually a reversal. So if there is a trade on long, it'll
21 00:04:12,359 --> 00:04:18,929 reverse and take you the other direction. Okay, and then this one here, this is a reversal as well.
22 00:04:20,250 --> 00:04:32,880 Then another close, and then another long entry, the exit, a short entry and then the cover. Okay. I'd like for you to consider what it would take for you to
23 00:04:32,880 --> 00:04:45,990 find consistency, and how many handles how many full handle moves in an index futures contract that would satisfy you. When I say a handle that's essentially
24 00:04:46,020 --> 00:04:58,620 four ticks the minimum fluctuation in these markets. An example would be if you were trading the Emini, s&p and you are trading obviously the 4450 level and you
25 00:04:58,620 --> 00:05:10,320 went long if it went to four or four or five, one, that's a full handle, okay, or four ticks, or four times $12.50, or $50 per handle. The NASDAQ is $20 per
26 00:05:10,320 --> 00:05:22,620 handle. So it's slightly different. But it's faster, it moves a lot more, more handles a lot more aggression. Now, it doesn't always move fast, or sometimes
27 00:05:23,070 --> 00:05:35,640 we'll have a lethargic price action in this indicee, or another one of the three, that would be the s&p, the NASDAQ in the Dow. I personally don't trade
28 00:05:35,640 --> 00:05:46,020 the Dow that much, but there's a lot of my students that love trading the y m, but y m is the symbol for the futures contract. And these three markets have the
29 00:05:46,020 --> 00:05:55,560 luxury for you that may not have the capability to put up at like $17,000 margin, if you were going to trade one full contract at the Nasdaq futures. Most
30 00:05:55,560 --> 00:06:03,600 brokers unless you're using a discount broker, they're gonna require you to have deep pockets in sense that you're gonna have to about $17,000, and about 12,000
31 00:06:03,690 --> 00:06:17,580 in a half for E Mini s&p futures contract, okay, you take basically a fraction of that. And you can trade a micro on each one of these markets, but obviously,
32 00:06:17,580 --> 00:06:28,470 it reduces the number of the tick multiplier, because you're trading with a lot less technically leverage. So I'm going to get into all that. But I'm just
33 00:06:28,470 --> 00:06:43,200 gonna, like want to begin the conversation informally, but also that's kind of like show you what it is that I do, versus what other people do. Okay, so I'm
34 00:06:43,200 --> 00:06:53,310 not trying to, you know, point my finger at anyone in particular. But if you look around on YouTube, there are people out there that try to make a big stink
35 00:06:53,310 --> 00:07:03,300 about themselves. And they'll try to show results that may or may not be real, I'm not here to disparage that they could be actually trading a Live account, I
36 00:07:03,300 --> 00:07:14,430 don't personally care. But anyone that trades on Thinkorswim, they can recognize this chart right away, I posted a results and updated reflection on the
37 00:07:14,430 --> 00:07:23,790 ThinkOrSwim or TD Ameritrade account. And it's on my community tab. I promise I won't beat you up too much with the Community tab. But that's my way of reaching
38 00:07:23,790 --> 00:07:33,330 out to you. So if you subscribe to the channel. And then when you subscribe to the channel, you want to toggle all notifications, you want to click that little
39 00:07:34,080 --> 00:07:42,540 thing, it's like a bell icon. And in all notifications, that way, anytime I post on my community tab, it'll let you know, otherwise, it won't let you know. So
40 00:07:42,540 --> 00:07:57,990 it's it's my replacement to Twitter, which in my opinion, sucks. So if we look at the ebb and flow of all this here, where the markets trading up, and between
41 00:07:58,020 --> 00:08:10,920 here, and here, it's not a small number of handles, it's a pretty respectful amount of handles, it's not a couple of some handful, and then up here, it's a
42 00:08:10,920 --> 00:08:26,490 reversal in comes back down, and then I buy it back here in reverse. So I'm selling short here. And I'm buying long here. 747 20, that's 20 handles, going
43 00:08:26,490 --> 00:08:43,770 long here at 720. I'm abbreviating the number just for brevity sake, getting out at 730 to 12 handles, then going along here, fit 756 And then getting out at 74
44 00:08:43,770 --> 00:08:56,880 and a half, then going short, at 798 and covering at 675. So I'll ask you which one of these trades do you think is the one that you want to learn? Again,
45 00:08:56,880 --> 00:09:08,220 putting aside the idea that you probably want to do all these, but I'm not promising you that? Okay, I'm going to take you into how to find this setup
46 00:09:08,220 --> 00:09:08,580 here.
47 00:09:10,830 --> 00:09:18,840 Notice the number of handles, I'm not promising you and get this many handles, but the setups and the logic behind it will help you find these types of
48 00:09:18,840 --> 00:09:27,690 frameworks. framework is that foundation to a trading model. So you have to have an understanding what it is you're looking for. And that's really the only thing
49 00:09:27,690 --> 00:09:39,030 I'm introducing tonight is the idea of what it is promising to educate you with so that we can go in and find the setups on your own. You will not need to be a
50 00:09:39,030 --> 00:09:49,530 slave to some kind of blackbox system. You don't need to be a part of some kind of signal generating gimmick. You don't need to be a part of a signal service.
51 00:09:49,530 --> 00:09:58,140 You can find these on your own independent that's exactly what I'm trying to frame in all my students. I do that with my mentorship students that paid me for
52 00:09:58,140 --> 00:10:06,930 education. Now here you You are in my YouTube channel, I'm telling you the same thing. I'm teaching independence. That way, you're not requiring any hand
53 00:10:06,930 --> 00:10:15,510 holding by me. Once you understand the rules, and you go through the processes and things I'm going to teach how to practice with, you will not need anything
54 00:10:15,540 --> 00:10:24,990 except for the chart itself. That's it. And that's how, in my opinion, and you can argue with this, if you want, I could care less if any of you would
55 00:10:24,990 --> 00:10:32,520 challenge the idea that independent thinking is not the best way of doing it. You want to be able to be unshackled. Okay? And if you're part of a signal
56 00:10:32,520 --> 00:10:44,610 service, or if you're part of a approach that requires you to use a blackbox system, you're kind of held captive, aren't you? So if you look at this, this
57 00:10:44,610 --> 00:10:59,910 chart is clean, except for the little bubbles actually show you the transactions, you don't really get any kind of well. Distortion from your
58 00:11:00,660 --> 00:11:09,180 reading of price action. I don't have a lot of graffiti on the chart. Okay. But the main takeaway here is I want you to understand that I don't hunt for three
59 00:11:09,180 --> 00:11:19,980 to five handles and consider that legendary. Okay, now, can you be profitable? If you take high frequency trades, and you do these types of trades? Absolutely.
60 00:11:19,980 --> 00:11:32,040 That's what algos do. algorithms do that. But I'm trying to show you by contrast that there is a way that you can find setups that are outside that parameter
61 00:11:32,040 --> 00:11:40,530 have very small little handles, and dealing lots of contracts. So if you're looking at this here, and it was say you're trading, and you're trading and
62 00:11:40,530 --> 00:11:52,320 NASDAQ micro account, you're not making a lot of money on these swings. Okay. I'm not making a lot of money on the swings, but I'm able to find the swings.
63 00:11:52,620 --> 00:12:03,090 And it's not the small little increments, okay. I'm going to teach you skill sets that focus primarily on this, okay? You want to find a nice price leg,
64 00:12:03,120 --> 00:12:14,400 intraday. I'm not promising you how to buy, sell short, buy, sell short, buy, sell short, that's, that's mine. Okay, I'm not teaching that. And then
65 00:12:14,400 --> 00:12:22,350 somebody's like, Oh, you're, you're this, you're that whatever. I didn't promise that. That's why I set the stage in the first introduction video so that we know
66 00:12:22,440 --> 00:12:30,540 what it is I'm teaching you. If any one of you here don't want to learn how to take this type of trade, you're welcome to not continue and turn this video off
67 00:12:30,540 --> 00:12:44,340 and go watch whoever, okay. But I think if you give it a chance, you'll find some amazing things that bring clarity to reading price action. Alright, so
68 00:12:44,340 --> 00:12:52,680 we're looking at the Nasdaq futures March delivery contract. And this is a trading view chart. And if you've never used trading view.com, the way you would
69 00:12:52,680 --> 00:13:07,620 pull this symbol up is n Q. H 2022. Okay. And this is a weekly chart. And I want you to think about each week before the new trading week begins, preferably on
70 00:13:07,620 --> 00:13:17,130 the weekend, okay. The idea is you want to try to get a read on what you think that next weekly candle is going to do? Is it going to go higher, or is going to
71 00:13:17,130 --> 00:13:28,020 go lower? You're not trying to predict the close of the weekly candle. That's important. Okay. You just want to see before this weekly candle opened up, all
72 00:13:28,020 --> 00:13:38,610 we had was this indecisive candle. Okay? Do you think that this candle that would have formed an open here is more likely to go higher or lower?
73 00:13:40,710 --> 00:13:46,920 Obviously, with the benefit of hindsight here, but I can tell you, all of my students know we've been looking for lower prices. And I'll just give you a
74 00:13:46,950 --> 00:13:55,980 quick short list as the reasons why. Number one, seasonality, okay, seasonal tendencies, it tends to go down around this time anyway. We also have
75 00:13:56,130 --> 00:14:04,650 discussions about how the Fed is going to raise interest rates, stock market does not like that. We're also in earnings season, there's a lot of volatility
76 00:14:04,680 --> 00:14:14,310 because of earnings. And those factors plus the underlying tone of the marketplace, which I'll show you and get into the daily chart. It just well,
77 00:14:14,370 --> 00:14:24,960 it's heavy. And this is where it was going to draw to. Okay. Did I expect this entire range to be delivered in one week? No, that's not important. The point
78 00:14:25,020 --> 00:14:34,080 is, I'm expecting that weekly candle to expand on the lower end, okay, or go down and gravitate towards this low which it hasn't broken yet. But I think
79 00:14:34,080 --> 00:14:42,300 that's what we're probably going to aim for on Sunday is opening going into Monday's trading. So that's where I think it's drawing to and that's the
80 00:14:42,660 --> 00:14:55,080 component I want you to focus on with your analysis. What is the market likely to draw to and I say draw to think of it as price being a paperclip, okay. And
81 00:14:55,080 --> 00:15:08,940 then you have this magnetic impulse, that specific price levels and seasonality, okay, we'll put on price, it'll cause price to gravitate towards certain levels,
82 00:15:09,090 --> 00:15:18,240 and the measure of speed and magnitude that it moves to get to these levels. You learn that over experience, that's not something I can transfer, it's something
83 00:15:18,240 --> 00:15:25,740 you have to practice and see and study and you get a rhythm for it. Okay? Every educator knows what I mean by that. And every student that's been trained
84 00:15:25,800 --> 00:15:32,730 successfully by any other educator will not understand exactly what I mean by that, you just get a feel for it, it's experienced, there's no way of defining
85 00:15:32,730 --> 00:15:41,730 outside of that. In the early stages of your development, you want to at least try to focus your attention on where that weekly candle is going to do. Now,
86 00:15:41,760 --> 00:15:50,670 here's the thing, it may start the first half of the week, or it may be just one day expand lower. And if you get a set up in that, that's it, you're done.
87 00:15:51,510 --> 00:16:02,160 That's how you start working towards consistency. No student ever should try to trade every single session every single day, because the only thing you're doing
88 00:16:02,430 --> 00:16:10,620 is building an expectation that you're going to be able to do this every single day properly. And then if you do get a run of profitability, soon as you get a
89 00:16:10,620 --> 00:16:18,570 losing trade, it's going to blow your mind in, you're gonna want to correct it quickly, and you're gonna start making irrational decisions. And then you enter
90 00:16:18,570 --> 00:16:29,460 that loser cycle I've talked about many times in the channel. So the only thing you're looking for is a likely movement higher or lower based on the weekly
91 00:16:29,460 --> 00:16:39,240 candle. Okay, that's all you're doing. That sets your initial bias for the week. On the daily chart, you're looking for swing highs and swing lows to get your
92 00:16:39,570 --> 00:16:51,510 liquidity and majority of your trading and the draw on liquidity, what makes the market go higher or lower? It's predominantly found on this timeframe. Okay, so
93 00:16:51,540 --> 00:17:00,870 majority of your analysis should really be went to this timeframe right here, you have to have an assumption, whether you're going to be expecting that weekly
94 00:17:00,870 --> 00:17:09,060 candle to expand higher or lower that your weekly bias, but then you have to go into the daily chart, and figure out basically where you are in the grand scheme
95 00:17:09,060 --> 00:17:18,810 of things on that weekly range expanding higher or lower. Because we're looking for lower prices, and we're looking for weakness, the expectation is we want to
96 00:17:18,810 --> 00:17:28,200 see every short term low, like this will be a short term low, this will be a short turn low. And underneath those lows is going to be self stops. Okay,
97 00:17:28,200 --> 00:17:40,440 that's liquidity. When I say learn to start looking for where the markets going to draw to, it's drawing to one of two things, okay? It's drawing two stops,
98 00:17:40,470 --> 00:17:55,650 which is liquidity, or it's running to an imbalance. Now, what's that mean? Above old highs, buy stops, below old lows, sell stops. Imbalances is something
99 00:17:55,650 --> 00:18:03,240 like this over here, we have one single candle pass higher in the previous candles high is here and next candles lows here. So
100 00:18:03,240 --> 00:18:12,630 it only went up one candle, nothing moved down the overlap with that same delivery on that price candle there. So in other words, that's an imbalance
101 00:18:12,810 --> 00:18:23,160 that's only going higher and nothing else is here to offset that and efficiently deliver price on the opposite end. Now, you've probably heard of the theory,
102 00:18:23,220 --> 00:18:33,210 auction theory, okay. And folks hear me try to communicate some of these things. And they'll run away with all he says talking the auction theory. And it's not
103 00:18:33,540 --> 00:18:42,840 just like when they see me do a rectangle or a box on chart and you'll see one in this video. It's not supplying demand, okay, it's just what it is, you'll see
104 00:18:42,840 --> 00:18:51,090 it and you'll know right away, it been with me for a couple weeks, that this is entirely unique, and there's nothing else like it. And I'm certain majority of
105 00:18:51,090 --> 00:18:58,440 you're going to fall in love with this model. So we're looking for lower prices, we're looking for an expansion, I'm using the benefit of hindsight, but I can
106 00:18:58,440 --> 00:19:06,690 promise you again, this was discussed, we were looking for lower prices in my pay group. And if I did not say that I have a lot of students that are making
107 00:19:06,690 --> 00:19:15,900 YouTube channels, they are welcome to come out and say I'm a liar. So we're looking at the daily chart, we're gonna drop down into the hourly chart. Okay,
108 00:19:15,900 --> 00:19:26,850 now what I have here is a framework for looking at the weekly range on an hourly chart. So all I did was beginning on midnight, New York time, Monday's candle,
109 00:19:27,600 --> 00:19:37,080 and then Friday's close, and then the beginning of Friday's trading at midnight. Okay. Now, what I'm delineating here is the fact that we had a nice sell off on
110 00:19:37,080 --> 00:19:47,730 Thursday in the market went into consolidation overnight. Notice what happens here on Friday. This is that old low on the daily chart. That's what we're
111 00:19:47,730 --> 00:19:58,050 thinking. And we're assuming that it's going to draw to because that daily chart, there's lots of liquidity and large fund traders, large institutional
112 00:19:58,080 --> 00:20:12,840 traders institutional mindset, investors will be looking at these old lows and old highs and liquidity providers will be looking to take business in around
113 00:20:12,840 --> 00:20:22,260 these same levels. So if we know that this level down here, is the old daily low again, I mean, take it back up to the chart on a daily chart that's this low
114 00:20:22,260 --> 00:20:32,850 right here. Okay. By dropping down into the hourly chart that levels here, all I'm doing is transposing those daily levels, right to this hourly chart. The
115 00:20:32,850 --> 00:20:44,760 entire week has been bearish. Okay, it's been going lower since the beginning. Then we had consolidation in here. The market creates this short term high, in
116 00:20:44,760 --> 00:20:53,040 this short term low. What rests above that short term high. If you've taken notes and been paying attention, it's by stops with resting below this low here,
117 00:20:53,250 --> 00:21:07,020 sell stops. Watch closely. The market trades down initially and takes out the sell stops. Why would it do that? First. This is inducing shorts. Okay? So it
118 00:21:07,020 --> 00:21:21,000 engineers liquidity, even if the idea is that they want to take the market down to this level, if it's been consolidating, I like to see them do this type of
119 00:21:21,000 --> 00:21:30,060 move here where it drops down first. It's kind of like a sucker play. Anybody has a sell stop below here, they want to sell on weakness, they're going to get
120 00:21:30,060 --> 00:21:39,120 tricked into the marketplace. So now they're triggered in short, and then they start doing a run against those traders, and against those that are already
121 00:21:39,120 --> 00:21:48,840 short from this high. So what are they doing? The markets being driven higher? And the algorithms are going to attack that by that liquidity pool? Why would
122 00:21:48,840 --> 00:21:59,370 they want to do that? Number one, it's going to punish those individual here that went short. With drive to go above this high here, it sends all those spy
123 00:21:59,370 --> 00:22:13,110 stops into market orders flooding the marketplace. That gives a huge influx of willing buyers at a high price, which is the perfect counterparty to smart money
124 00:22:13,110 --> 00:22:23,520 that wants to sell at a high price. Remember, the market wants go down here. So when it dries up to here, based buy stocks are the counterparty or the other
125 00:22:23,520 --> 00:22:32,760 side of a Smart Money trader that's wanting to go short, because they're gonna sell short, they gotta sell it to somebody wants to buy the high price. That's
126 00:22:32,760 --> 00:22:43,350 why the market does this. Okay, in your notes, you want to record anytime a significant price move lower is expected, always anticipate some measure of a
127 00:22:43,350 --> 00:22:52,560 stop hunt on buy stocks or short term high being taken out. Obviously, it's reversed when you're looking for higher prices, generally, you'll see a short
128 00:22:52,560 --> 00:22:58,890 term low taken out and sell stops taken before you see a very pronounced rally higher.
129 00:23:00,390 --> 00:23:09,390 Don't take my word for it, go through your charts, and you'll see it's actually occurring almost on a daily basis. So we're gonna drop down into a 15 minute
130 00:23:09,390 --> 00:23:18,990 timeframe. So that same old low level down here, and that high is mentioned on the hourly chart, and the low on the hourly chart is now been defined with a
131 00:23:18,990 --> 00:23:26,880 small little line segment. Okay, so we have a trend line here and a trend line here. That the extent of a trend line, that's it, I only use them to highlight
132 00:23:26,880 --> 00:23:37,350 to my students, these levels are not on my chart, I'm watching a naked chart, okay. You while you're developing, you should have these levels drawn out in
133 00:23:37,350 --> 00:23:45,630 your chart because it helps you build and ingrain the idea that this is where liquidity is it keeps you focused on that. Because it's easy to look at all
134 00:23:45,630 --> 00:23:53,880 these candles swarming if you have the luxury of watching it live, and you can lose sight of where you are. And once you lose your bearings, it's really
135 00:23:53,880 --> 00:24:02,910 confusing. And this helps you keep those bearings in mind. And what I mean by that, well, I mentioned how the market dropped down initially. And that takes
136 00:24:02,910 --> 00:24:12,810 the sell stops out. So sell side liquidity has been attacked. Traders are now tripped in going short if they sold on a break, trying to be a breakout artists.
137 00:24:13,140 --> 00:24:21,630 And then the algorithms go right back up to an area where it's been cleanly delivered. Relative equal highs. See how this high here right before a drop is
138 00:24:21,630 --> 00:24:34,290 basically the same high here. Notice that so retail traders see this and they trust that as what? Resistance. So the books always say, put your buy stop if
139 00:24:34,320 --> 00:24:43,650 you're going to go short right above and clear level of resistance. Well, these levels work for a short period of time. But majority of the time you see this
140 00:24:43,650 --> 00:24:50,370 event right here and this is how I teach my students to go in and look for those types of events because what did I just tell you moments ago about looking for
141 00:24:50,460 --> 00:24:59,520 significant price moves before there's a significant price move of any real magnitude or importance? Generally there's going to be a stop hunt that takes
142 00:24:59,520 --> 00:25:08,790 place Right before that price delivery occurs. So what does it look like? You have relatively equal highs this high and is high. The market goes up when we're
143 00:25:08,790 --> 00:25:16,470 what we're expecting lower prices on that weekly chart. We're on the last day of the week, it's already been heavy, it's weak, and the only thing it's been doing
144 00:25:16,470 --> 00:25:26,490 is consolidate. And the first thing it did was broke out to the downside, tripping what traders in a breakout to go short. So now they have traders caught
145 00:25:26,490 --> 00:25:33,660 on the wrong side offside. And now they want to take the market up here, where those buys thoughts are going to be resting for those that were smart enough to
146 00:25:33,660 --> 00:25:44,220 sell short here or here and didn't get down below here. So the larger pool of liquidity is going to be resting here, because it's in sync with the downtrend.
147 00:25:44,220 --> 00:25:53,310 And everybody that was short the day before. They seen this high form. And once it broke below this low here, they all rushed in trailed their stop loss right
148 00:25:53,310 --> 00:26:01,560 above that. And I understand if you're new. And you think well, this is easy to explain in hindsight, but I wanted to remind you go back and look at the first
149 00:26:01,560 --> 00:26:10,170 slide I showed you. Those were actual entries. That's a Live account through Thinkorswim. Charles Schwab, that was the clearing firm that did the brokers
150 00:26:10,410 --> 00:26:19,110 side of the business, okay. So I'm not showing you a demo account, I'm not showing you paper trading that those were real entries. Okay. They were real
151 00:26:19,110 --> 00:26:26,280 reversals, the whole business. But the main thing was I showed you that larger trade, this is going to be the framework that I'm teaching you how to find it,
152 00:26:26,280 --> 00:26:35,160 okay. But this pool of liquidity, Once this occurs, you want to drop down to your lower timeframes and start looking for something specific. And let's go
153 00:26:35,160 --> 00:26:44,730 into these lower timeframes and find out what that is. Okay, here's a two minute chart, why a two minute chart? Well, two minute, one minute or three minute or
154 00:26:44,730 --> 00:26:54,750 five, five minutes, still has a lot of room for imbalances still occur underneath that timeframe. And what I mean by that the one minute, two minute
155 00:26:54,780 --> 00:27:04,980 three minute chart tends to be the best for finding the imbalances for indices. Okay, don't take my word for that. Okay, if you're looking for high frequency
156 00:27:04,980 --> 00:27:14,580 setups, intraday, the one two or three minute chart are just beautiful. They just offer real good clarity. The reason why because the high frequency trading
157 00:27:14,580 --> 00:27:24,870 algorithms are operating on nothing really higher than three minutes, but majority of the time they're like seconds. Okay. 15, second, 32nd 45 seconds,
158 00:27:24,870 --> 00:27:33,600 62nd intervals, okay. And what they're looking for are these small little imbalances. And what does that look like? Well, we have that run on the bus
159 00:27:33,600 --> 00:27:44,430 stops here, okay? Remember that old high here, the old high here, old high here, it runs right on through that, once this occurs on that higher timeframe, 15
160 00:27:44,430 --> 00:27:51,900 minute timeframe, you want to drop down to the lower timeframes, and I'm using the two minute chart because this is exactly what I was using to find that
161 00:27:51,900 --> 00:27:54,390 imbalance and trade off of it. Okay.
162 00:27:56,280 --> 00:28:05,400 The market creates a short term low here, and then it breaks below that this is key, this is called a break in market structure. Now the foundations and
163 00:28:05,400 --> 00:28:15,090 underlying framework is we're in a market, that's what weekly bearish, you're expecting that weekly candle to expand lower, it's been expanding all week. So
164 00:28:15,540 --> 00:28:24,810 we have momentum on our side, we have a consolidation that's occurred. And we had a pool of liquidity engineered with these relative equal highs. And the
165 00:28:24,810 --> 00:28:34,110 market broke out to the downside first, and then the RAM on the highest. So once it went here, we don't rush in there just go short, because it went above old
166 00:28:34,110 --> 00:28:41,970 highs. We're looking for some specific signature that tips its hand to you. Okay. And I promise you, when you start going through your charts, and it's
167 00:28:41,970 --> 00:28:48,180 going to be homework for you, you're going to see this occurring almost every single day. And if it is not doing it this way, it's doing it the opposite
168 00:28:48,180 --> 00:28:58,080 direction as a bi. Okay, again, don't take my word for it, you're going to be flabbergasted, like flabbergasted when you see how many times this thing forms
169 00:28:58,230 --> 00:29:08,550 every single week, okay, it's many times throughout the intraday charts, it creates this type of move, but it runs the stops, then we have a short term low,
170 00:29:08,640 --> 00:29:17,460 and then it breaks below it. So now we have a break in market structure. Okay, once this low is broken, you're going to look for this little area here. That's
171 00:29:17,460 --> 00:29:25,740 that imbalance I mentioned in the beginning, right? So what's happening is the markets going to go right up inside that area there. And that's where you want
172 00:29:25,740 --> 00:29:32,820 to sell. Now, if you don't sell there, you can drop down to a lower timeframe, one minute chart, if this was a three minute chart, you can go to No Limit chart
173 00:29:33,060 --> 00:29:40,110 and look for that to occur on that timeframe as well. And it many times will form if you're looking at a lower timeframe. Let's say this was a five minute
174 00:29:40,110 --> 00:29:47,760 chart, and you looked at a one minute chart you find one down in here. It's a matter of scaling down in your timeframes. Because once you have an underlying
175 00:29:48,180 --> 00:30:00,660 premise to the market, now likely to go lower, it becomes an easy thing to look for these types of things. So in your chart, once you're developing this idea In
176 00:30:00,660 --> 00:30:08,520 learning it, you're going to highlight this candles low this candles high. And this right here is what I teach my students as a fair value got, okay? You don't
177 00:30:08,520 --> 00:30:17,340 have that as in books, okay, you don't have any of that kind of stuff out there. It's something I introduced back in 2016. And obviously, a lot of people
178 00:30:17,340 --> 00:30:27,480 discovered how good it is. And they try to make courses with it. But I'm going to not touch that right here. But the idea is, once it go up into that imbalance
179 00:30:27,480 --> 00:30:38,550 there, and once it does that, soon as it enters that area, the algorithm that delivers price. Now, some of you may not know what that means. And some of you
180 00:30:38,550 --> 00:30:46,380 may not even agree with it, you may think that this is made up or it's contrived, I promise you, if you spend time with this, you're going to quickly
181 00:30:46,380 --> 00:30:53,640 come to the conclusion that there absolutely is an algorithm. And it's manipulating the markets every single day, every single tick, it's completely
182 00:30:53,640 --> 00:31:02,070 controlled, okay? Period, you're led to believe its buying and selling pressure. Now, if I go back and use that analogy, where it went down here, first thing go
183 00:31:02,070 --> 00:31:09,120 up here, some of you may argue, see, that's the buying and selling pressure. No, it's not. It's liquidity. Now, you may argue and say, Well, we're arguing
184 00:31:09,120 --> 00:31:19,470 semantics, no, I'm telling you what's going on. This is the logic, this is how these markets book. Okay? Once you see these patterns, over and over and over
185 00:31:19,470 --> 00:31:28,020 again, it's very easy to execute on them. But the impulse to want to do it the first time you see it, because you watch this video, that is going to be
186 00:31:28,020 --> 00:31:37,320 problematic for you. So you're gonna do a certain number of weeks and months of back testing, there's no escaping that you have to do it. Any skill set, any
187 00:31:37,530 --> 00:31:45,750 teacher, educator system, whatever, okay, whatever they're going to give you, there's going to be some kind of growing period, where you have to trial and
188 00:31:45,750 --> 00:31:54,630 error, fix the problems that you have about yourself. And I've literally taken your attention to a very specific framework and setup, notice that some of you
189 00:31:54,630 --> 00:32:01,440 may think I'm still talking too much, but I'm taking you right into the heart of the matter. This is what it looks like, this is what you're looking for. Okay?
190 00:32:01,530 --> 00:32:13,020 These are the fingerprints of that setup, these repeat. So if you know what they are, and what those components are, that make up this setup, you'll be able to
191 00:32:13,020 --> 00:32:24,150 find them. But focus on the imbalance after the market structure break. So this big candle here, it breaks down, look at the next candle opens and trades higher
192 00:32:24,150 --> 00:32:30,600 and stops right there. So from this candles low, and this candles high, when this candle starts trading, soon as it opens, and it runs right up into that
193 00:32:30,630 --> 00:32:33,690 that's a short, you can go right in here sell short be done.
194 00:32:34,620 --> 00:32:45,030 Now, where's your stop going to be? Well, you can put it above this high here, or you can put it above this candles high, whichever your risk parameters allow
195 00:32:45,030 --> 00:32:57,180 for, okay? If you're trading the micro, which is again, it's not a lot of money per tick. So the multiplier for that is very small. If you trade the larger full
196 00:32:57,240 --> 00:33:07,200 futures contract, if it was 100 points, and they could do it real quick, it can bring in pretty bad. So you may have the leverage to trade with a discount
197 00:33:07,200 --> 00:33:15,180 broker. Okay, you may have the initial margin to trade with a discount broker, but you may not have the wherewithal and the skill set to navigate this market.
198 00:33:15,870 --> 00:33:23,250 And that's the only thing I'm trying to provide here as an alternative, because there's a lot of individuals here that will promote the idea that you can go out
199 00:33:23,250 --> 00:33:33,660 there with a discount broker, and just clean up yet if you know what you're doing. But you don't need a discount broker to be profitable. Okay. Looking at
200 00:33:33,660 --> 00:33:42,720 this further, we're gonna look at the logic in here. And I want you to think about after this forms, and you see that as your choice setup or entry, if it
201 00:33:42,720 --> 00:33:54,960 starts to move lower, you can still get in it, there's no reason not to think that you can't get it here. Or in here, it's close to or in close proximity to
202 00:33:54,960 --> 00:34:04,380 where that area is as an entry. Once we take out a low though, once that occurs, then it becomes a matter of your chasing price. And if you try to get in,
203 00:34:04,410 --> 00:34:11,700 especially if you use a market order, you may see it trade right to this low and say okay, now I believe it's going to go down and you put a market order to sell
204 00:34:11,700 --> 00:34:19,680 short and then slippage gets you down here. And it creates a larger area of risk that you have to assume it's it's problematic. You want to learn to trust going
205 00:34:19,680 --> 00:34:28,410 short when the markets going higher. And that feels scary at first. But once you start seeing this pattern form, it becomes easy to trust it. And in fact, as you
206 00:34:28,410 --> 00:34:37,980 want to be doing that you will be selling short, expecting lower prices, right when the candles going up. And retail traders can't grasp that many times. It's
207 00:34:37,980 --> 00:34:45,720 just like, it goes against the logic because they think I gotta have confirmation all the books say I have to have confirmation. And that's somebody
208 00:34:45,720 --> 00:34:54,150 that's coming in late that someone that doesn't have read price, it can't really follow it. And usually they're the people that will trade short with additional
209 00:34:54,150 --> 00:35:03,210 shelf sell stop. So but sell stops below the marketplace and that's the momentum entry for them. And it's kind of a no brainer. In fast markets, it works. But if
210 00:35:03,210 --> 00:35:11,940 you don't know you're doing, you try to do that, and the market is consolidating, or about the reverse. It hands you your backside. Okay? So if
211 00:35:11,940 --> 00:35:20,340 you're looking at this framework here, and we've taken the buy stocks, we have our entry pattern here. What would you be looking for, as a downside objective?
212 00:35:20,820 --> 00:35:31,080 Well, I'm going to teach you the liquidity matrix. Okay, and sounds pretty cool. sounds neat, and all that, but watch what it is. This here is your range. This
213 00:35:31,080 --> 00:35:39,090 is the low of the day. And this is the high of the day thus far. So if we take that range and split it from the low to the high to get the midpoint, all of
214 00:35:39,090 --> 00:35:47,190 this can be determined by a simple 50 level on a Fibonacci. So you drag your fib from this high down to that low or vice versa, and have your 50 level
215 00:35:47,190 --> 00:35:59,220 highlighted, then anything above that 50 level, this is referred to from an algorithmic stance as a premium market. That means is, is expensive. Now markets
216 00:35:59,220 --> 00:36:10,320 can stay in a premium for a while and not go to a discount, which would be below the 50. Point. Okay, 50%. Anything down here is a discount. If you're bearish,
217 00:36:10,320 --> 00:36:19,050 if you're going short, you want to look at the previous range. Where are you at inside that rain. So when this form here, that little fair value gap, once that
218 00:36:19,050 --> 00:36:31,320 formed, you're thinking, Okay, we are in a premium. So algorithms will won't want to go to a discount. That's the opposing side of the marketplace. So if
219 00:36:31,320 --> 00:36:39,270 it's going short, here, it's driving the market lower does that mean the algorithm is going to start pricing lower, you can have all the buyers in the
220 00:36:39,270 --> 00:36:46,950 world come in. If the algorithm is in a sell program, and it's going lower, it does not matter, it's going to reprice lower and lower, lower. And then what
221 00:36:46,950 --> 00:36:54,900 will happen is those buyers that may come in with a huge influx of volume, they're gonna get crushed, and they get squeezed, you ever get a term, oh, this
222 00:36:54,900 --> 00:37:02,310 is a bear squeeze, this is a bull squeeze. All that is an excuse for them not to know why the algorithms don't want to do it. That's it, that's all it is. It's
223 00:37:02,310 --> 00:37:12,750 an out, okay, I'm telling you, this is what's really going on. So the markets moving from this premium high, this specific entry point to a level below the 50
224 00:37:13,650 --> 00:37:24,060 of this range this low, and this high. Now I want you to, again, go back and rewind the video once we're done. And look at that execution page where I showed
225 00:37:24,060 --> 00:37:30,420 you my entries, going back and forth, up and down, up and down. And where I got out at where I got in. Okay,
226 00:37:31,470 --> 00:37:46,710 I want you to think about what below this level here the 50 level what is resting below here. Self stops. So now think about the idea of someone like you
227 00:37:46,710 --> 00:37:56,220 and I that would see this ideal entry as a short, we had to sell to get in that short. How do we get out of that short? We got to buy it back or cover it by
228 00:37:56,220 --> 00:38:06,030 buying? Well, we're gonna find willing sellers at a low price relative to this point here. They're willing already sitting down here with their selves thoughts
229 00:38:06,240 --> 00:38:19,380 rate below that low. Now, look closely, what else resides right near that low? Do you see it? Pause the video before I show it to you because it kind of ruins
230 00:38:19,380 --> 00:38:30,150 the experience. Because if you find it and I don't tell it, it feels good. Right there is that imbalance I mentioned. Okay, it's only one single candle passing
231 00:38:30,150 --> 00:38:39,540 up. And previous candles high in the next candles. Well, that area right there is an imbalance from this area here. It went down below the 50 level and
232 00:38:39,540 --> 00:38:49,950 attacked the sell stops and completely closed in this and bounced. So every point of this candles high to this candles low that range with the candle only
233 00:38:49,950 --> 00:39:03,510 going up. That's a buy side imbalance. It has to have an equal delivery to be efficiently priced and booked by the algorithm. It goes down and completely
234 00:39:03,510 --> 00:39:11,970 closes back in with down movement. Notice the candle in this here it opens and then trades down. So it fulfills its role of balancing the buy side offering.
235 00:39:12,390 --> 00:39:22,890 Now the sell side offering. So that is an efficiently delivered price move precision elements from the entry here, down to here. Everything else after that
236 00:39:22,890 --> 00:39:33,240 for the rest of the day I didn't care about even though I had an objective of that old daily low. I wasn't expecting it to run into this particular day. And
237 00:39:33,240 --> 00:39:41,160 that's why I didn't participate anymore in rest of the day. In hindsight, I wish I would have left the small position and just let it go. But you're going to
238 00:39:41,160 --> 00:39:46,920 have that you're never going to be right about everything all the time every single day. You're going to leave things on the table. You're going to get into
239 00:39:46,920 --> 00:39:52,710 early you're going to hold too long. You're not going to buy enough you're not going to sell enough there's always gonna be some reasons why you didn't do
240 00:39:52,710 --> 00:40:00,630 something right. So don't beat yourself up about it. Okay, but if you can find elements like this repeating in the price action, can you agree with me that
241 00:40:00,630 --> 00:40:11,190 that is an amazing precision. And this is the logic I used to do that trade. The very trade that I showed you, that was the largest one in the example of saying
242 00:40:11,190 --> 00:40:25,650 which one would you rather learn how to do? I basically just handed you an ATM machine. Okay? This repeats every single week, every single week. Now, I want
243 00:40:25,650 --> 00:40:38,310 you to count the number of the handles in this move. Let's say you got in at while this, say you got an 814,800 It started to go down, you trust that. Okay,
244 00:40:38,310 --> 00:40:46,470 we're going to go short. Ideally you want to answer as it goes into that, but it's going to take time for you to trust that. But let's say you done in 14,800.
245 00:40:48,090 --> 00:40:57,900 If you got out down here like I did I exit as it went right to the top of that range. Right here. This range here. That's the top of it. Once it went below
246 00:40:57,900 --> 00:41:13,500 that, that was it. For me that close the trade is that five handles is that 10 handles is at 20 handles at 30 handles, is that 50 handles? No, it's over 100,
247 00:41:13,500 --> 00:41:28,320 and so on. Now, let's assume for a moment that you get good at this, or I get the inclination that I want to go to some kind of a deep discount broker. And I
248 00:41:28,320 --> 00:41:37,260 go in I do trades like this, and I'm putting on 15 to 25. For futures contracts. What do you think the results are going to be?
249 00:41:41,190 --> 00:41:52,800 Yep. So not everything is going to be easy right away. And you're not going to see these things happen. Just because you sit in front of charts, you have to
250 00:41:52,800 --> 00:42:00,720 study, and you have to practice and by experience of looking at old moves, and watching Real Price Action is best as you can, if you can't watch it live
251 00:42:01,140 --> 00:42:13,110 TradingView has a replay button where you can watch the candles kind of form, but they're a little stilted, because it's not completely painting the candle.
252 00:42:13,170 --> 00:42:22,320 Okay, and you can't practice with entering like that, you can only just study how price moved and gravitated towards certain levels, it's the best thing you
253 00:42:22,320 --> 00:42:29,790 can have. If you if you at least, consider doing that much, that's good. But if you really want to take it to the next level, and say you're running a business,
254 00:42:29,790 --> 00:42:41,460 or if you're going to score, you have a job. And you can't watch the timeframe around the opening of the index features. And I like watching it around 830
255 00:42:41,460 --> 00:42:48,270 Morning, New York local time, to 11 o'clock, there's usually a setup in here that I'm gonna be able to find, obviously, you seen I did multiple setups and
256 00:42:48,480 --> 00:42:57,540 executions today. But the point is this, that's like that sweet little spot in the morning that I focus on. I teach that in this YouTube channel, I teach in my
257 00:42:58,470 --> 00:43:05,880 paid mentorship group. So you're getting real stuff here, it's not something that was contrived, I didn't just make it up. Because this day worked out my
258 00:43:05,880 --> 00:43:17,520 favor. My students recognize these things also. And these are simple elements that repeat, what you're looking for is a run on liquidity, buy stocks or sell
259 00:43:17,520 --> 00:43:26,280 stops. If you're bearish, you're looking for buy stocks to be ran, then a break in market structure lower a short term low been broken. That's what it looks
260 00:43:26,280 --> 00:43:34,470 like right here. Short term swing low, we have a candle high, I'm sorry, a candle higher to the left with it with its low here, then you have the low of
261 00:43:34,470 --> 00:43:42,690 this candle and the next candle is higher low than this one. So you have a swing low formed. If you have that. And then you have a break below that. If it
262 00:43:42,690 --> 00:43:52,560 happens, that creates a gap like this. That's what you're looking for. When it trades up into that you can go short. Or if you want to use sell stops, you can
263 00:43:52,560 --> 00:44:02,040 use a sell stop in this candle here in this, let it trip you in and then use the high of that candle as your stop. That may be too wide for you. But I mentioned
264 00:44:02,040 --> 00:44:10,890 logic around this is you're using a micro okay micros aren't that big of a deal. It's not a lot of money, okay? You're not risking for futures leverage. It's
265 00:44:10,890 --> 00:44:23,340 very, very small. So if you're looking at these types of setups, and you can find them forming repeatedly over and over and over again and you study them,
266 00:44:23,880 --> 00:44:32,370 you're going to see that you don't need to get these little five handle moves, these little 10 handle moves, you can make a living doing that. Don't get me
267 00:44:32,370 --> 00:44:41,550 wrong, I'm not trying to say that people cannot be profitable and wildly profitable. But when you learn how to do something like this, and you're able to
268 00:44:41,700 --> 00:44:53,550 pull down this number of handles and then you have sound money management. Nothing compares to it folks. These are the things that I use when you watched
269 00:44:53,790 --> 00:45:02,940 on when I was on Twitter and I ran up the demo accounts really high. These are the types of setups I was using. These types of setups. And as the account grew,
270 00:45:03,000 --> 00:45:11,790 there was more demo account leverage. Well, I'm not using a demo account right now, I'm showing you with Thinkorswim. And anybody that knows Thinkorswim, when
271 00:45:11,790 --> 00:45:22,590 I'm showing you those screenshots, the paper trading shows as arm. Everything on that page is orange. When it's a live account, it's green. Okay? Also, here's
272 00:45:22,590 --> 00:45:35,010 the rub with a demo account. It's this demo demo demo, okay? I'm not trying to promote the idea that you're going to get rich. Notice that account hasn't gone
273 00:45:35,010 --> 00:45:46,200 bonkers. It hasn't ran up to a million dollars. Because this mentorship is to hopefully inspire you to pick up a skill that if you deem it useful, and you
274 00:45:46,200 --> 00:45:52,770 decide at your own discretion in your own timing, and you assume that risk on your own, because I'm not going to tell you to do this, if you decide to get
275 00:45:52,770 --> 00:46:02,160 really good at this, and you put money behind it. That's a skill set that could I'm not promising, but it could alleviate some of the problems with what I
276 00:46:02,160 --> 00:46:10,350 believe is coming in terms of financial hardship, not just in America, but everywhere, jobs are getting harder and harder that half the economy is a mess.
277 00:46:10,380 --> 00:46:18,600 So how do we answer that? How do we get another income stream coming in? This is in my opinion, this is one of the ways that you can at least investigate the
278 00:46:18,600 --> 00:46:21,690 idea of doing it. Alright, so I'm going to give you some homework in closing.
279 00:46:23,580 --> 00:46:32,490 I want you to go through all of the E Mini futures contract charts, okay, just like I showed you here these timeframes, go back and look at the presentation
280 00:46:32,490 --> 00:46:42,480 and see what the timeframes I gave you listen to what I gave you in terms of audio commentary. That is enough, I in fact, I gave you a ton. And it may have
281 00:46:42,480 --> 00:46:50,940 your head spinning. If you're brand new to me, or you're brand new to technical analysis or trading me feel like minutes is too fast. Do not send me an email, I
282 00:46:50,940 --> 00:47:00,750 promise you, the lessons I have planned will help eliminate an answer majority of the things you're going to ask. Just try to study and keep up with the pace
283 00:47:00,750 --> 00:47:10,140 that I'm going to put you through which isn't gonna be all that bad. But as we progress deeper into the teachings, many of the questions that are going to come
284 00:47:10,140 --> 00:47:17,280 up, or when you start going into the homework assignment, were you looking at old data and insert a chart is anything less than a daily chart. So like a four
285 00:47:17,280 --> 00:47:25,410 hour chart, that's interesting. One in our chart, that's intraday, five minute, three minute, two minute, one minute, all those timeframes are intraday, what
286 00:47:25,410 --> 00:47:35,100 you're going to be looking for our breaks in market structure after a pool of liquidity, okay, buy stops or sell stops been taken in an opposing direction of
287 00:47:35,100 --> 00:47:42,990 your weekly expected range. In other words, are you expecting higher prices or lower prices on a weekly range. So if you're looking for lower prices, your
288 00:47:42,990 --> 00:47:53,430 focus is on a run above and Oh, hi. Once that forms, then you're looking for a break in market structure on lower timeframe. Once that occurs, and you have an
289 00:47:53,430 --> 00:48:03,450 imbalance, that's your trigger, okay. And then you split that range that was created, find out where the 50% is. And then if you're selling short, you want
290 00:48:03,450 --> 00:48:12,930 to find something like an old low or an inbounds to aim for as your target and you want to get the closest target. Don't try to get fancy and say okay, well, I
291 00:48:12,930 --> 00:48:21,930 think it's going to go down to that lowest low and try to use that for your exit. Because sometimes these markets can deny you that. So low hanging fruit is
292 00:48:21,930 --> 00:48:33,630 how I teach, you want to have the easiest target, and then allow the market to go farther and you just not be a part of it. It's okay, is 120 530 handles in an
293 00:48:33,630 --> 00:48:44,070 index not good enough. I think it's good enough. But I'm probably just biased. But the homework assignment is again, you going through the charts, using the
294 00:48:44,070 --> 00:48:50,760 logic I framed in this introduction lesson, looking for breaking market structure, also have lessons in this YouTube channel that talks about market
295 00:48:50,760 --> 00:48:58,020 structure breaks and things like that. And then you're going to look for the imbalance in price, which is that fair value can then you're going to determine
296 00:48:58,740 --> 00:49:07,620 where an opposing high or low resides. Then log in back test the number of handles you see in hindsight examples. Notice how much do they offer, and you're
297 00:49:07,620 --> 00:49:16,050 going to get a collection of doing that. The next lesson, I'm actually going to show you how to go back into charts in look for them, how to log them in your
298 00:49:16,050 --> 00:49:24,930 journal, and give you more insights about how you can find these setups that repeat every single week. Okay, so again, I'm going to build on this foundation
299 00:49:24,960 --> 00:49:32,790 in the next episode. The next episode will be next Tuesday in the time upload will be 10 o'clock, New York local time. Hopefully you've enjoyed this one. And
300 00:49:32,850 --> 00:49:35,070 I'll talk to you next time. I wish you good luck and good trading