ICT YT - 2022-01-26 - ICT Mentorship 2022 Episode 3.srt
Last modified by Drunk Monkey on 2022-01-28 18:44
| 1 | 00:00:17,760 --> 00:00:30,090 | ICT: Hi folks, welcome back. Alright, so this is the Tuesday, January 25 2022, ITT mentorship on the YouTube channel. Alright, so this is the internal range |
| 2 | 00:00:30,090 --> 00:00:40,650 | liquidity and market structure shifts lecture. Alright, so I gave you homework on the Community tab if you have not been paying attention to that, that's where |
| 3 | 00:00:40,650 --> 00:00:48,630 | I'm kind of keeping you abreast as to what you should be expecting next, or something that just comes to mind that I feel like sharing. So this is the link |
| 4 | 00:00:48,630 --> 00:00:59,610 | I sent out the other day. And I wanted you to go through this particular chart and look for reasons that provided the market structure shift and the buy side |
| 5 | 00:00:59,610 --> 00:01:08,640 | and sell side liquidity. So if you have not done that, please stop the video and do that now. Otherwise, you're cheating yourself of learning opportunity. |
| 6 | 00:01:11,940 --> 00:01:24,570 | Alright, so here is that chart. Again, 15 minute time frame on the E Mini NASDAQ 100 futures contract for March delivery 2022. And take your attention over here. |
| 7 | 00:01:25,020 --> 00:01:41,370 | Okay, this old low in these relatively equal highs, see that although below that is sell stops. And relative equal highs above that is by stops. Now you could |
| 8 | 00:01:41,370 --> 00:01:48,690 | have used this high here, there's nothing inherently wrong about that. But whenever I see equal highs like this, my if it's higher than old high over here, |
| 9 | 00:01:49,170 --> 00:01:58,710 | I'm going to use that. So that way, it's a little bit of insight for you for your study journal. the sell side liquidity, you can see that the market trades |
| 10 | 00:01:58,710 --> 00:02:10,020 | down hits that runs through it. Then rallies all the way back up clearing equal highs. So the bias that had been taken here, okay, so at both of these price |
| 11 | 00:02:10,020 --> 00:02:23,670 | points here, and here. That's the I guess the point at which you'll look for anticipate a market structure shift, and you don't force it. Okay, I see a lot |
| 12 | 00:02:23,670 --> 00:02:34,560 | of people try to teach my concepts. It'll talk about market structure breaks or shifts, and we'll use that term interchangeably. But for intraday, I want you to |
| 13 | 00:02:34,560 --> 00:02:48,120 | think about intraday market structure shifts, because it's not necessarily a break in market structure that leads to prolonged multi day movement. Okay. What |
| 14 | 00:02:48,120 --> 00:02:59,850 | I mean by that, if you see a market structure that's bearish, and it's broken to the downside, intraday, that may just lead to an intraday price leg that may |
| 15 | 00:02:59,850 --> 00:03:10,890 | eventually see that high, be taken out in the same day. So that's why I'm using the term market structure shift, not market structure break. For our |
| 16 | 00:03:10,890 --> 00:03:20,280 | conversation here on this mentorship, just know that when I'm going to lean on that term, market structure break, it means a little bit more in context versus |
| 17 | 00:03:20,310 --> 00:03:31,080 | an intraday shift in market structure just means that there's likely a downside draw, or an upside draw intraday by saying the term shift. Okay, so there's a |
| 18 | 00:03:31,080 --> 00:03:44,100 | little bit of semantics there. Alright, so we have both of these areas here in here, where there would be a likelihood of a market structure shift up here, |
| 19 | 00:03:44,280 --> 00:03:53,280 | we'd look for a fake run above here. So that fake run above How do we know it's going to be a market structure shift that's bearish? I get that question a lot |
| 20 | 00:03:53,280 --> 00:04:01,770 | even from mentorship students. What you're looking for is the evidence I'm going to show you here tonight. Okay. Forget everything else everybody else has about |
| 21 | 00:04:01,770 --> 00:04:09,930 | market structure breaks and shifts and all that stuff. This is it. Okay, this is the brass tacks there's absolutely nothing else that you need to know about it, |
| 22 | 00:04:09,960 --> 00:04:18,240 | I promise you, if they add anything to it, it's just because they want to sound and look different, but this is the algorithmic perspective of a market |
| 23 | 00:04:18,240 --> 00:04:34,080 | structure shift intraday. Now keep this price level in mind. So it's essentially 14,000 614,008 20. We're just eyeballing okay. Now dropping all the way down |
| 24 | 00:04:34,080 --> 00:04:55,440 | into a two minute chart, this is that same particular day. Here's those relative equal highs and this run down here, okay. If you recall, 14, six and around that |
| 25 | 00:04:55,440 --> 00:05:02,250 | 14 860 or so. Okay. If you look at this market structure |
| 26 | 00:05:04,259 --> 00:05:14,489 | without having the levels on your chart, it's easy to get lost in all the quote unquote noise, the uninitiated, and I know it's gonna Raz. The people that don't |
| 27 | 00:05:14,489 --> 00:05:23,669 | care. I'm really learning here. But the uninitiated folks that will watch a video or listen to some of the lectures I'll put out. They're trying to bring |
| 28 | 00:05:23,669 --> 00:05:31,169 | something in, they're trying to bring in their preconceived notions and ideas about what they think they understand about markets, or technical analysis or |
| 29 | 00:05:31,169 --> 00:05:42,959 | something in price action. And I want to kind of like, allow you to just put that aside for a moment. And just imagine, this chart is the first time you |
| 30 | 00:05:42,959 --> 00:05:50,969 | looked at price action for the first time. And that's hard, but kind of like strip away everything else that you want to bring to the conversation, no order |
| 31 | 00:05:50,969 --> 00:06:01,679 | block discussion, no breaker net stuff, okay? Supplying the main Elliott Wave audit garbage. If you look at this price action here. When we had this low form, |
| 32 | 00:06:03,449 --> 00:06:15,839 | right before this low was formed, there's a swing high right there. Now, in the first mentorship video I gave you, I mentioned that high frequency trading |
| 33 | 00:06:15,839 --> 00:06:28,289 | algorithms will use market structure on a three minute, two minute one minute chart many times sub one minute, that would be like 45, second 32nd 15 second |
| 34 | 00:06:28,289 --> 00:06:40,109 | intervals. Okay. What the algorithms are actually doing. And this is also going to correct a lot of people out there because they put out misinformation. It's |
| 35 | 00:06:40,109 --> 00:06:49,229 | so nonsensical, but I'm challenging you to go into your charts and see if this is not what's actually going on, because it happens every day. If high frequency |
| 36 | 00:06:49,229 --> 00:07:00,209 | algorithms are operating every single day, then these signatures will be in the chart. Okay? If you look at this short term high here, right before this low |
| 37 | 00:07:00,209 --> 00:07:16,949 | formed when this highest taken out right there on that candle, that's significant. Only, only if this rundown here, has traded into sell stops. Okay, |
| 38 | 00:07:16,979 --> 00:07:27,629 | below an old love some kind of could be a double bottom, it could be a single low. Okay. But it's got to be trading under some retail idea that would be |
| 39 | 00:07:27,659 --> 00:07:43,979 | viewed as support. Up here, the same thing. We're trading above highs. So we know that above old highs. A neophytes perspective will be these are unknown |
| 40 | 00:07:43,979 --> 00:07:50,609 | orders. So therefore, that's a flawed perspective on price action. How do you know there's liquidity out there? How do you know there's bias that's up there. |
| 41 | 00:07:50,609 --> 00:08:01,769 | It's this logic. It's simple look at the chart, everybody's trying to do something based on some kind of theory, logic, whatever, some system, there's |
| 42 | 00:08:01,769 --> 00:08:12,809 | buyers and sellers coming in at all times. Their buying and selling quote, unquote, strength, or pressure has absolutely no bearing on where these prices |
| 43 | 00:08:12,809 --> 00:08:20,849 | are going to go. I knew that may shake individuals that think they knew something about the markets, oh, I have an uncle that used to be on the floor of |
| 44 | 00:08:20,849 --> 00:08:28,229 | the Chicago Board of Trade and blah, blah, blah, the Mercantile Exchange guys say this, I don't care. Okay. I don't care what any of those folks say, because |
| 45 | 00:08:28,229 --> 00:08:40,679 | they didn't design the algorithm. So again, put all those talking points and everybody else's opinion you've adopted, because you've probably heard someone |
| 46 | 00:08:40,679 --> 00:08:47,339 | else talk about it. And you subscribe to the review, because it's easier just to do that, instead of going and looking at it for yourself. And that's what I'm |
| 47 | 00:08:47,339 --> 00:08:59,819 | asking you to do. I'm telling you, this is my personal belief. You're going to see proof of these things in a live account execution. But I want you to see the |
| 48 | 00:08:59,819 --> 00:09:08,879 | logic behind it. Because if you can see this, you'll be lightyears ahead of everyone else. And you'll laugh in the face of all these people that are going |
| 49 | 00:09:08,879 --> 00:09:19,559 | to tell you you're wasting your time trying to learn this, I promise you, this lesson is going to change a lot for you. When this run above these relative |
| 50 | 00:09:19,559 --> 00:09:32,219 | equal highs happens right there. You're anticipating a market structure shift, you're not forcing it. You're not trying to get ahead of it. Okay, I don't think |
| 51 | 00:09:32,219 --> 00:09:38,339 | any of you are going to have the skill set to do that. There are ways to know when to sell short rate above that not even wait for the shift in market |
| 52 | 00:09:38,339 --> 00:09:50,459 | structure. Just like there's ways to know to be a buyer down here without seeing that short term high broken. Then looking for a buy. Over here the opposite. See |
| 53 | 00:09:50,459 --> 00:09:53,459 | this swing low. Let me go back to this for a second. |
| 54 | 00:09:54,870 --> 00:10:04,830 | We have this high on this candle. Then we have the candle right after that here. Highest One in the lower high of this candle here. So that's a swing high, very |
| 55 | 00:10:04,830 --> 00:10:16,110 | simple little pattern. But it means a lot when it's in the proper context. When this highs broken with this particular candle right there, that is significant |
| 56 | 00:10:16,170 --> 00:10:26,370 | only on the basis that we have taken liquidity out of the marketplace. That's it. So when it broke this short term high, this is more meaningful, and then the |
| 57 | 00:10:26,370 --> 00:10:39,390 | market will start to seek buy stops, okay, or buy side liquidity that would rest about here, here. And here. Now, I shared an example of live executions, and I |
| 58 | 00:10:39,390 --> 00:10:53,940 | was teaching him the idea of utilizing micros, which are essentially $2 per candle, okay, so, or 50 cents per tick. This chart is NASDAQ, E Mini, this would |
| 59 | 00:10:53,940 --> 00:11:05,790 | represent $20 per handle, and there's four ticks and each handle, there's a $20 per handle. Okay, so again, what that means is 14 682 14 681, that's one handle |
| 60 | 00:11:05,820 --> 00:11:19,500 | or four ticks. There are some that will doubt the idea that you can trade all these little internal swings, okay, and I'm going to give you some insights on |
| 61 | 00:11:19,920 --> 00:11:33,330 | how I was doing it. Okay, the main context of this lesson is for you to go in to your charts, and try to prove me wrong. Okay. That's the challenge here. That's |
| 62 | 00:11:33,330 --> 00:11:42,210 | your homework. I want you to learn what I'm doing in this lesson here. And then you go into your charts back testing, and I'll show you what that looks like. |
| 63 | 00:11:42,210 --> 00:11:49,920 | What does it mean to be back testing, and what you're looking for, and how you're going to screen capture all those things. But your mission is to go into |
| 64 | 00:11:49,920 --> 00:12:03,090 | the charts. And look for this not being true. Okay, this is exactly what I did on baby pips. Back in 2010. I told everybody do not take my word for it. Don't |
| 65 | 00:12:03,090 --> 00:12:12,630 | take my word for it, go into the charts and see if this is true or not, I believe it. But I don't want to try to convince you because I won't. You'll |
| 66 | 00:12:12,630 --> 00:12:21,210 | convince yourself once you start seeing it, it's it. It's over. There's no argument after that, okay. But it's simple logic. Very simple. This is a very |
| 67 | 00:12:21,210 --> 00:12:34,980 | clean chart isn't not. All I'm gonna do is add a few annotations. And this is about as extensive of lipstick we put on our chart. I know it's shocking, right? |
| 68 | 00:12:36,090 --> 00:12:43,800 | Can you still see the candles? Because it might be a little obstructive. I'm being facetious. You see these guys out there with these charts that have |
| 69 | 00:12:43,830 --> 00:12:51,570 | graffiti all over it, you can't even see the price candle, nothing good can see any of it. But there's all kinds of overlays of all kinds of nonsense, which |
| 70 | 00:12:51,570 --> 00:13:02,610 | means absolutely nothing because algorithms could care less about any of that stuff. Triangles, harmonic this crabs. It's crazy. I know. But hey, everybody's |
| 71 | 00:13:02,610 --> 00:13:15,240 | got to have a religion. So here's those cell stops. So this little area here at shaded in, that's a area where cell stops would be residing below that 14 600 |
| 72 | 00:13:15,240 --> 00:13:26,370 | level. Okay, when that 15 minute timeframe. So the market douve into that liquidity. And you may or may not know that is a buy. You don't need to you |
| 73 | 00:13:26,370 --> 00:13:34,710 | anticipate a shift in market structure. When the market rallies above, when does that happen on this candle right here. See that little light bulb? That's when |
| 74 | 00:13:34,710 --> 00:13:47,400 | you're thinking, okay, now I have a condition in the marketplace, that I might see an opportunity intraday. But see if there's further evidence to that short |
| 75 | 00:13:47,400 --> 00:14:00,660 | term highest taken here, we traded above it, it does not need to close above that. Okay, real important. Once that candle closes, in this candle opens, |
| 76 | 00:14:00,750 --> 00:14:09,630 | you're going to monitor this candle and you want to see as soon as this candle closes, does it create that fear value gap? If it creates a fear of a gap, |
| 77 | 00:14:09,870 --> 00:14:20,010 | again, that's a candle with a high one single pass up. Next candle has a load it doesn't completely overlap all this. That's fair. Very simple. Okay. This candle |
| 78 | 00:14:20,010 --> 00:14:30,570 | is where you would look to potentially trade at the earliest because now there's a gap there. The market trades down into that boom, takes off here is insight |
| 79 | 00:14:31,080 --> 00:14:35,430 | that everybody needs to understand because they're out here running around on YouTube trying to teach otter block theory. |
| 80 | 00:14:36,810 --> 00:14:48,630 | Order blocks. Okay, I invented it. It's mine. No one talked about before me, and I first mentioned it in 2010 on baby pips prior to that 1996 I was only teaching |
| 81 | 00:14:48,630 --> 00:14:58,980 | it to people one on one in teachings. That's it. Okay. You can't find it in books prior to that. It's mine. No one else taught it before me. It is mine. So |
| 82 | 00:14:58,980 --> 00:15:09,240 | I'm going to correct all of you Today's that way you can teach your people correctly and not hurt them. See these down close candles, see that? That's all |
| 83 | 00:15:09,240 --> 00:15:22,320 | one continuous order block. What's it doing? It's inside that pool of liquidity cell stops. Where's the open on that series of down close candles right here. |
| 84 | 00:15:23,400 --> 00:15:34,230 | That's the price level extending out in time. Boom. So inside this variable, you got this opening price and the waterblock, that's your buy. Plus three pips or |
| 85 | 00:15:34,230 --> 00:15:47,610 | whatever spread. And that's what you would use for a limit order. That's pretty neat. Well, price starts to run were above the highest, whereby stocks will be |
| 86 | 00:15:47,610 --> 00:16:01,020 | here, above this high here, and about this high here. Now go back and look at the example where this particular day here, I put in orders. And I was still |
| 87 | 00:16:01,020 --> 00:16:09,660 | learning how to use the ThinkOrSwim platform. And there's a little toggle box where if you toggle it, it'll send your order right to the marketplace, it won't |
| 88 | 00:16:09,660 --> 00:16:17,550 | let you review it. And I had put that on to see if it was going to show me any kind of information on the screen. But it didn't take it off. So what happened |
| 89 | 00:16:17,550 --> 00:16:25,770 | was I put that on, and it was actually an ordered I mistakenly had in so I was hoping to see if that could give me an opportunity to get out of it and cover |
| 90 | 00:16:25,800 --> 00:16:34,320 | with next to nothing or maybe even squeak out a profit. It wasn't having it. So I had to reverse and then go back and go short, wrote it down. And then you'll |
| 91 | 00:16:34,320 --> 00:16:45,990 | see me covering in here and then going long, selling short, reversing going short, buying long in here, inside the order block, rallied up, sold the long |
| 92 | 00:16:46,110 --> 00:16:56,580 | reversed it bought here, got out over here and resold for that big run into that. Okay, that's what I was doing. There's people out there gonna tell you, he |
| 93 | 00:16:56,580 --> 00:17:05,520 | doesn't trade that way. These people don't know how I'm trading. You don't have no idea how I'm trading? None of you do. Okay? I'm teaching you. It obviously |
| 94 | 00:17:05,520 --> 00:17:13,470 | for those individuals that are outside my paid mentorship, which is not open. So please stop emailing asking people are still sending me emails, can I join? No, |
| 95 | 00:17:13,470 --> 00:17:22,170 | you can't join, be content with it, I'm teaching you gold. And it's costing you nothing but the time to sit down here. And it doesn't work, you're going to know |
| 96 | 00:17:22,170 --> 00:17:30,870 | right away. Okay, and that wasting your time. I'm gonna write into the brass tacks that way that people that are weak minded, will know right away, this is |
| 97 | 00:17:30,990 --> 00:17:37,770 | it or it's not that way, you'll know it's just too much work for you. And that's fine, go and do whatever you got to do. And I wish you good luck. But the |
| 98 | 00:17:37,770 --> 00:17:47,100 | individuals that really put the time in and test what I'm challenging to look for. You're gonna see it there. And it repeats like clockwork, okay, it's real |
| 99 | 00:17:47,100 --> 00:17:58,170 | important. You have that mindset. So by starts above here that was taken this swing low forms once this candle closes. So this candle we're watching, does it |
| 100 | 00:17:58,200 --> 00:18:06,810 | go below that short term low? It does. So now we have a shift in market structure that is now bearish. Only because we've taken buys thoughts. Okay. |
| 101 | 00:18:08,250 --> 00:18:21,510 | Fair Value got forms. The market rallies up into that you go short there. What are you looking for? The low here sell stops below here. Sell stops below here |
| 102 | 00:18:21,540 --> 00:18:32,910 | sells dots. And in this fear of a gap here. So if you are in a position that has multiple contracts, or say you have a Forex trade because this works in forex, |
| 103 | 00:18:32,910 --> 00:18:41,160 | too, it's not just limited to futures. Again, I'm just using this asset class because I cut my teeth on these markets. When everybody else was still in |
| 104 | 00:18:41,190 --> 00:18:49,860 | elementary school that's trying to teach today. I was trading the s&p. Okay, I probably sound like a young guy, but I'm actually getting turned 50. So I've |
| 105 | 00:18:49,860 --> 00:18:58,680 | been around for a long time, 30 years, this November 5 30 years, that's three decades. And the things I'm teaching you I'm not teaching you one trick, Pony |
| 106 | 00:18:59,730 --> 00:19:08,970 | insight, these things work on all asset classes. Now I'm not gonna cosign the crypto markets because that only my students are reporting that this stuff works |
| 107 | 00:19:08,970 --> 00:19:19,170 | there. I don't even mess around with it that much to know. Okay, but you can take partials below here, I probably wouldn't do it there, but below here, here. |
| 108 | 00:19:19,500 --> 00:19:24,990 | And then somebody saying, Well, why wouldn't you take them below their ICT? Well, if you're trying to get short here, that's not really that much movement. |
| 109 | 00:19:25,290 --> 00:19:32,790 | So if you're gonna take some thing off your trade below that low, why not just try to reach for that one, and you could get it there? Right here. Okay. And |
| 110 | 00:19:32,790 --> 00:19:34,770 | then below that low was nice as well. |
| 111 | 00:19:36,030 --> 00:19:49,020 | Below this low and this is what I mentioned on the first lesson, okay, elements to a trade setup. This is below the 50 level of this high in that low. Okay, so |
| 112 | 00:19:49,020 --> 00:20:00,780 | 50% level, that's what we targeting. Now, this candles low was the high end or first objective inside this gap. So that's your target you got to look for that. |
| 113 | 00:20:01,410 --> 00:20:09,480 | So you're looking for low hanging fruit, the easiest target to get to, you're not trying to be perfect and you grow into eventually holding to see if it will |
| 114 | 00:20:09,480 --> 00:20:24,870 | fill in that gap. Okay, this fear of a gun always going down to this candles high. That's something that you strive for overtime. If you understand what I |
| 115 | 00:20:24,900 --> 00:20:35,220 | just showed you here, that's a very simple process of looking for number one liquidity, gauging what happens without having to know for certain, because you |
| 116 | 00:20:35,220 --> 00:20:40,800 | don't know, you're not going to know until the market shows its hand. This is it showing its hand. |
| 117 | 00:20:45,780 --> 00:20:56,760 | Okay, that's it. Now, let's go into a one minute chart and see how that looks a little bit different, but still has the same characteristics. Here's that same |
| 118 | 00:20:56,820 --> 00:21:08,940 | price structure, just on a one minute chart. The same logic still there, right. So in high taken after liquidity has been traded into this short term high gets |
| 119 | 00:21:08,970 --> 00:21:19,260 | violated, right? When this trades down in here, what's actually occurring, okay, but this in your notes. High frequency algorithms are hammering, they're just |
| 120 | 00:21:19,290 --> 00:21:30,450 | throwing orders in buy, buy, buy, buy, buy, that is not okay, here's the important thing that is not causing, okay, it's not causing the market to go |
| 121 | 00:21:30,450 --> 00:21:47,250 | higher. It's just volume that's coming in. The algorithms that deliver price that offer price are constantly offering the price in the marketplace. That's |
| 122 | 00:21:47,250 --> 00:21:55,380 | what's beginning to spool and go higher. Okay. And regardless of where you want to trade at your limit orders, they may not get filled, where you're trying to |
| 123 | 00:21:55,380 --> 00:22:08,880 | buy with a market order. You may think you're getting in at 14 662. But by the time your order is executed and confirmed, you're in 14 664. That's slippage. |
| 124 | 00:22:09,420 --> 00:22:17,850 | Okay, that's negative slippage. If you were trying to buy it at 14 662, and it filled you at 14 661. That's positive slippage. That's better than what you were |
| 125 | 00:22:17,850 --> 00:22:32,220 | expecting. So when price starts to rally, all this is a default to the algorithm constantly offering price to higher price. Okay, and the logic and argument for |
| 126 | 00:22:32,220 --> 00:22:38,310 | anyone that wants to say, oh, it's buying selling pressure, this guy has no idea he's talking about I know somebody that used to trade on the floor, and he's |
| 127 | 00:22:38,310 --> 00:22:47,580 | laughing at ICT right now. Okay, go into your charts. Forget that out. I'll let you have that perspective for a moment for the argument. But go into the charts, |
| 128 | 00:22:48,000 --> 00:22:58,260 | and see if what I'm not suggesting to you is the truth. Okay. I could sit here and do a complete series on all the things that lead to what I'm saying is true. |
| 129 | 00:22:58,680 --> 00:23:05,970 | But none of you will still believe it. I'm showing a Live account and entries and executions, and they still doubt it. So no matter what I do, there's gonna |
| 130 | 00:23:05,970 --> 00:23:15,000 | be people out there but you didn't do it. wearing orange, you didn't do it in your Corvette Did you flip which I don't flip Corvettes. You're getting all |
| 131 | 00:23:15,000 --> 00:23:28,770 | kinds of stuff out there nonsense. But you don't see anybody going in at Rollins cup. Hello. So we're looking at the swing lower here, market breaks down, trades |
| 132 | 00:23:28,770 --> 00:23:36,930 | big back up into this back up in this fear it got here. And sells off is another fear that he got right there trades up into that as well. This is a one minute |
| 133 | 00:23:36,930 --> 00:23:50,190 | chart. So it's giving you multiple points of execution that you could trade on and then dives. See these two candles here. That's one consecutive bearish order |
| 134 | 00:23:50,190 --> 00:24:04,320 | block. The opening price extended out in time. Why is this a good bearish order block? Because it has that gap. And it's taken liquidity. And there's a market |
| 135 | 00:24:04,320 --> 00:24:16,110 | structure shift. There's your high frequency high power high probability bearish order block, forget everybody else's interpretation of my concept, the order |
| 136 | 00:24:16,110 --> 00:24:25,590 | block. That's it. Okay, what is an order block? Again? You see a lot of people asking what is an order block? Only my students in mentorship know what an order |
| 137 | 00:24:25,590 --> 00:24:38,550 | block is. Okay. What it is, it's changing the state of delivery. Okay, it's a change in the state of delivery. The markets being offered higher, higher, |
| 138 | 00:24:38,550 --> 00:24:49,290 | higher, higher in these two up close candles. How did this series of up close candles begin with this candles opening right there? That opening once this |
| 139 | 00:24:49,290 --> 00:24:50,640 | candle trades below it? |
| 140 | 00:24:52,560 --> 00:25:01,350 | That changes the state of delivery. So you go back to that point of reference right there. And that's why it's sensitive. The algorithm remembers that right |
| 141 | 00:25:01,350 --> 00:25:10,350 | there. Okay, that's all I'm gonna give you on the free mentorship level. But that is your answer. Okay? That is what an order block is, is a change in the |
| 142 | 00:25:10,350 --> 00:25:18,600 | state of delivery. Much in the same way, all of this movement down here, all these down close candles, the open on that candle starts this series of delivery |
| 143 | 00:25:18,600 --> 00:25:29,370 | on the downside. When that opening price gets violated here, it changes the state of delivery now it was offering sell side, when it goes above that |
| 144 | 00:25:29,370 --> 00:25:40,650 | opening, now it's offering by side will it be doing after that it'll be looking for by start by start by starts. That's because it's offering by side liquidity. |
| 145 | 00:25:41,160 --> 00:25:47,730 | See, you guys don't even know what you're talking about. You're trying to teach my concepts. And you have no idea what you're doing, you're talking about things |
| 146 | 00:25:47,730 --> 00:25:58,770 | in the left side of the chart, trade it, do it, okay. You don't know what you're looking at. And you're hurting the people you call your students. And then right |
| 147 | 00:25:58,770 --> 00:26:07,050 | away when people don't know how to use them, or understand what to do with them. They'll say, Well, this stuff doesn't work, because they learn from someone it |
| 148 | 00:26:07,050 --> 00:26:18,180 | doesn't know what they're doing. Okay. It's blatantly obvious what it is. But okay, same thing here by side is being offered until that opening price is |
| 149 | 00:26:18,180 --> 00:26:26,040 | violated right there, then it changes stated delivery occurs. Now the markets gonna be doing what offering sell side liquidity, what's that mean is going to |
| 150 | 00:26:26,040 --> 00:26:33,120 | start going lower and attacking the sell stops all the sell side liquidity, it's offering it to the marketplace. That's what's happening. That's what the |
| 151 | 00:26:33,150 --> 00:26:41,490 | algorithm is doing. That's what the algorithm does, okay? You buying and selling me buying and selling everybody over there on Reddit is not going to change |
| 152 | 00:26:42,210 --> 00:26:54,750 | anything at all, it's not going to do anything. And the argument that defeats all that buying and selling pressure is how do you argue against the bowl |
| 153 | 00:26:54,750 --> 00:27:03,060 | squeeze and the bear squeeze. There's a short squeeze going on in the markets rallying up when it's been bearish. That's the stir cop out that's their way of |
| 154 | 00:27:03,060 --> 00:27:12,750 | saying well, you know, thereby shorten. And now they're covering. So there it is. And I learned the same thing, folks, I believe all that garbage. 2000 Plus |
| 155 | 00:27:12,750 --> 00:27:24,630 | books, I know what those books told me, is what you're learning too. Because the same people teaching today, retail garbage, Elliott Wave this and that. It's all |
| 156 | 00:27:24,630 --> 00:27:32,610 | stupid stuff. Man. It has nothing to do with why these markets are doing what they're doing. Zero has nothing to do with it. Don't worry, I got proof today. |
| 157 | 00:27:34,020 --> 00:27:43,080 | But the market goes down to that 50% level, because it's going down to what I teach you what to say in the first video, it's going down from a premium market |
| 158 | 00:27:44,640 --> 00:27:52,230 | relative to this low and this high 50% is here that's equilibrium. So it's going to go down to a discount and that's that gap for you here does it doesn't look |
| 159 | 00:27:52,230 --> 00:28:00,600 | like a gap so much here. But we go back up one more time. That's that single opening right there on the two minute chart but then on the one minute chart, |
| 160 | 00:28:00,630 --> 00:28:07,170 | it's two candles that make that up but you're going to have to do is go through a progression of going from the three minute to minute one minute chart and |
| 161 | 00:28:07,170 --> 00:28:17,010 | you'll get your market structure in your areas of where it wants to look for an imbalance or older low and high and it just makes it easy but just a real nice |
| 162 | 00:28:17,010 --> 00:28:34,170 | delivery there. And here's the lipstick on it on the one minute chart swing high is broken market structure is now bullish rallies taking by stops taking by |
| 163 | 00:28:34,170 --> 00:28:46,740 | start taking by stops this right here these highs right here it's just staying below that low it's building up more interest that this is what resistance that |
| 164 | 00:28:46,740 --> 00:28:56,280 | is engineering liquidity. That way when this runs above it, those individuals that know what you're learning today, they know that that's a pool of liquidity |
| 165 | 00:28:56,460 --> 00:29:09,420 | for buyers coming in at a high price why is that useful? Because smart money they bought down here or here or here or here or here that's where they sell to |
| 166 | 00:29:09,420 --> 00:29:21,870 | high seeking buyers it's not hard logic folks. It's not complicated. Okay, it just feels complicated cuz you see other people trying to teach something and |
| 167 | 00:29:21,870 --> 00:29:30,120 | you hear for reading the comments you're teaching it better than ICT does know you don't know you're not you're not doing you're actually teaching it |
| 168 | 00:29:30,180 --> 00:29:40,320 | incorrectly and without the real context of what it is that you're missing. But I get it you think every down closed candle is a bullish order block and |
| 169 | 00:29:40,320 --> 00:29:49,560 | applying that it is a bearish order block and that's not the case. Look in here. Okay, for the guys that say I did not take trades or I didn't trade this way. |
| 170 | 00:29:50,100 --> 00:29:51,930 | See that gap right there. See that? |
| 171 | 00:29:52,440 --> 00:30:04,170 | She got down close candle right there. That's your order block boom by right there. What about this dropping down? All these candles here are more |
| 172 | 00:30:04,770 --> 00:30:19,740 | significant if you look at it on a two minute chart, see that it becomes one order block. Right here, buy it sell short, buy it again, we've got up into two |
| 173 | 00:30:19,740 --> 00:30:30,120 | stops, sell short, reverse and ride the larger swing down. Don't listen these Yahoo's outdated. Say that I'm not proving something to you, I'm proving it. |
| 174 | 00:30:30,150 --> 00:30:39,240 | That's what I said I was gonna come in here this year and do that's his whole point of being here this year. It's my 30th anniversary, November 5, I've been a |
| 175 | 00:30:39,240 --> 00:30:53,550 | trader in the markets, living and breathing this stuff for 30 years. You're not really in any position to demand anything from me, I enjoy doing this. But I |
| 176 | 00:30:53,550 --> 00:31:01,980 | don't need to provide any kind of proof do you either, but I'm loving it this year. I'm slowly putting it out there and enjoying all the naysayers and the |
| 177 | 00:31:01,980 --> 00:31:13,140 | things they're saying. And it's just fun, because they have no idea what I'm about to bring this entire year, none of you are going to doubt anything. So the |
| 178 | 00:31:13,140 --> 00:31:25,320 | one guy chart, just the real nice deliver here as well, filling that Fairbury gap, changing the state of delivery. Now it's offering sell side, what's that |
| 179 | 00:31:25,320 --> 00:31:39,750 | mean? It's going to match up, sell stops, it's going to keep going below lows into an imbalance until we get down to a discount. Is that hard? Is it hard to |
| 180 | 00:31:39,750 --> 00:31:50,490 | see what I'm showing you here? Pretty clean, clean chart. Now I don't have all these things on my chart when I'm watching price because I already know what I'm |
| 181 | 00:31:50,490 --> 00:31:58,770 | looking for. And I don't want to have any distractions. And I don't want to have a level or some kind of annotation that's going to keep me thinking only with |
| 182 | 00:31:58,770 --> 00:32:10,320 | that perspective, okay, or that idea. It allows me to be fluid with what the markets actually doing, versus going in and saying, Okay, this is what I think's |
| 183 | 00:32:10,320 --> 00:32:18,270 | going to happen. And this is the only thing that can happen. You understand what I just did there. I allow myself to be flexible. Whereas if you have all these |
| 184 | 00:32:18,270 --> 00:32:32,700 | things you're putting on your chart, you're only only seeing your will be done. So I keep my charts clean. And then I add annotations. So that way my students |
| 185 | 00:32:32,700 --> 00:32:41,610 | can see what the internal dialogue in my mind was while watching price do what it does naked. There's nothing on the charts at all when I'm trading zero, |
| 186 | 00:32:41,700 --> 00:32:58,800 | nothing. Okay. So with that, I want you to think about how this is useful. Okay. Number one, you're looking at London highs and lows, the session for London. |
| 187 | 00:32:59,520 --> 00:33:07,230 | Open, okay, for instance, like two o'clock in the morning to five o'clock in the morning. New York time, every time I tell you just always set it with New York |
| 188 | 00:33:07,230 --> 00:33:15,210 | local time. Two o'clock to five o'clock in the morning. That's your london session. What's the highs and lows of that session? Okay, that's important |
| 189 | 00:33:15,210 --> 00:33:25,830 | because the markets will probably sweep above those highs or sweep below those lows, and create situations like this. Okay. And the New York session is seven |
| 190 | 00:33:25,830 --> 00:33:34,290 | o'clock in the morning to 10 o'clock in the morning, New York local time. Okay, what's the session high and low for that? And do the same thing for Asia. Okay, |
| 191 | 00:33:34,380 --> 00:33:48,450 | 7pm to 9pm. And that's it. Those are the three times of the day that I'm looking for specific key highs and kilos, and any intraday high and low forming right |
| 192 | 00:33:48,450 --> 00:33:57,960 | before the equities open at 930. Pretty easy, right? The hours of operation again, are generally between 830 in the morning to 11. But it can be extended |
| 193 | 00:33:57,960 --> 00:34:00,270 | all it to New York lunch noon, I do not |
| 194 | 00:34:01,290 --> 00:34:12,060 | tend to take trades after noon, local time, New York, that hour is usually very problematic. And it just, it's better not to even look for any kind of setups. |
| 195 | 00:34:12,480 --> 00:34:21,900 | Wait until one o'clock, preferably really 130 to four o'clock, then you get the afternoon trend. Typically, you'll see between two o'clock and three o'clock |
| 196 | 00:34:21,900 --> 00:34:30,870 | there's a set up that usually forms in the afternoon trend are set up in that period of time of the day. That will also offer opportunities, but that's |
| 197 | 00:34:30,900 --> 00:34:38,160 | outside the scope of what I'm going to be teaching in this mentorship. But there's lots of things you can look on YouTube about the afternoon session. And |
| 198 | 00:34:38,310 --> 00:34:46,680 | you can just combine some of the things that I'm going to teach you here. And just it's not hard to make an addition to what you're learning here. That way if |
| 199 | 00:34:46,680 --> 00:34:56,340 | you want to try the afternoon session, you can obviously pick up some insights from other youtubers that do trade futures. But for developing students, this is |
| 200 | 00:34:56,340 --> 00:35:09,450 | enough. I promise you this is enough. Okay. Alright, so we talked about internal range liquidity, and internal range liquidity is looking for short term lows or |
| 201 | 00:35:09,450 --> 00:35:19,710 | short term highs inside a price leg that we're retracing back into. Okay, that's all it means internal range. Liquidity is a short term high or low with stops |
| 202 | 00:35:19,710 --> 00:35:30,900 | above or below it, or an imbalance in that same range of price action. And I taught you market structure shifts showed you exactly all of it's necessary. |
| 203 | 00:35:31,440 --> 00:35:40,920 | That is all that you require. And the skill set of identifying pools of liquidity that is going to be something you learn rather quickly just by going |
| 204 | 00:35:40,920 --> 00:35:47,280 | through old data and looking at the times of the day I gave you in this lecture. Alright, your homework is you're going to go through your E Mini futures |
| 205 | 00:35:47,280 --> 00:35:54,420 | intraday charts. And give me looking for stop hunts that lead to market structure shifts, intraday, you're going to log your examples with your own |
| 206 | 00:35:54,420 --> 00:36:06,000 | annotations for your study journal. So what I showed with the break in the market going higher and lower above old highs or lower, below an old low, that's |
| 207 | 00:36:06,090 --> 00:36:16,350 | running for stops, that's a stop hunt, then you're looking for that signature for the market structure shift 123 to one or one minute charts. Okay, if you |
| 208 | 00:36:16,350 --> 00:36:27,810 | look for that, between 830 in the morning to noon, New York local time, in the money markets, or if you're watching the micro markets, the same logic exists, |
| 209 | 00:36:27,840 --> 00:36:38,130 | okay. But you're going to start going back from today. And go back as far as the data will allow you, the more you do it, and you annotate your charts, the more |
| 210 | 00:36:38,130 --> 00:36:45,720 | experience you're going to have. And it's pseudo experience. Yes, but you're teaching your brain, I use this analogy a lot with my paid mentorship students. |
| 211 | 00:36:47,250 --> 00:36:56,670 | It's like hunters, okay? To know where you're gonna find a deer, if that's what you're going to go out and hunt, you need to know how to track one, okay, or set |
| 212 | 00:36:56,670 --> 00:37:04,380 | up in its treestands. Wait for the walk by, but usually, they go out and he walk around in the woods and look for tracks. Would you know what a deer track looks |
| 213 | 00:37:04,380 --> 00:37:12,150 | like? Before I was shown one, I didn't know what it was. Okay, but because I'm showing you what it looks like, that's all this lesson was predominately |
| 214 | 00:37:12,480 --> 00:37:24,750 | focusing on is the actual view of what it looks like the details, what you don't need is anything above and beyond what I'm showing you. The only thing that you |
| 215 | 00:37:24,750 --> 00:37:34,440 | need is what I've shown you here. It's simple. It's straight to the point. And I'm only talking to that way you understand that this is all that is required. |
| 216 | 00:37:35,430 --> 00:37:45,690 | Notice there is no commitment of traders. Notice there's no breakers, there's that stripped it down to the Chrome. Now this is the only way you can trade. But |
| 217 | 00:37:45,690 --> 00:37:54,390 | I'm showing you something I think personally, in my opinion, this is so universally simplistic. All of you should be able to do this one. Okay, in my |
| 218 | 00:37:54,390 --> 00:38:03,690 | opinion, I think this is it. And that's why I more or less built it because I think my daughter, which has zero interest in trading, I think that this is |
| 219 | 00:38:03,690 --> 00:38:10,950 | going to be easy for her to see it and understand what to look for. It doesn't have a lot of moving parts. And that is that it's very specific times of the day |
| 220 | 00:38:11,130 --> 00:38:20,970 | specific highs and lows you're going to look for. It's simple. But you won't appreciate how simple it is until you go back into your charts. And you annotate |
| 221 | 00:38:20,970 --> 00:38:29,520 | your 15 minute timeframe for your buyside liquidity pool and your salsa liquidity pools. And then going down into the three minute two minute one minute |
| 222 | 00:38:29,520 --> 00:38:37,440 | chart. So for every individual day that you're logging, and your back testing, back testing is just dressing your chart out like I'm showing you here. |
| 223 | 00:38:38,640 --> 00:38:48,540 | And then studying it not just do It's okay, I'm done. Really go into see how price moves and how it delivered. How many pips did it move? How long did it |
| 224 | 00:38:48,540 --> 00:38:57,180 | move going higher or lower? How much drawdown did it put on your position if you would have taken one, all those things, you want to annotate that in your chart. |
| 225 | 00:38:57,210 --> 00:39:05,190 | So that way, when you go back through your study journal, you'll have many examples that look at and because you're looking at it, and you're seeing it |
| 226 | 00:39:05,220 --> 00:39:14,010 | over and over again, repetitively. When you have a period of time where nothing feels like it's working and you feel confused, you want to go back through your |
| 227 | 00:39:14,010 --> 00:39:20,730 | study journal and look at these examples. Because it will encourage you through periods of time where you just feel like it isn't clicking, okay? It's why it's |
| 228 | 00:39:20,730 --> 00:39:31,380 | important to have a study journal, because you're going to see this stuff is happening every single day, every single day. And don't take the Infancy that |
| 229 | 00:39:31,380 --> 00:39:42,420 | you have right now. And the lack of experience and amplify that to there's no way I can learn how to do this because that's a lie. That's a facade. Don't buy |
| 230 | 00:39:42,420 --> 00:39:49,440 | into that view, okay? It's something that you're going to have to grow into. And it's going to be quick for some and it's going to be slower for others and |
| 231 | 00:39:49,440 --> 00:39:58,740 | there's no way I can make it easier than this. Okay? Because that workload that you have to go through a back testing and logging, acquiring examples. The more |
| 232 | 00:39:58,740 --> 00:40:10,920 | time you do that. The more examples you acquire in back testing, I swear this is the secret, okay? Because that is the thing. That's the work that's required. A |
| 233 | 00:40:10,920 --> 00:40:19,080 | lot of people say they do it, they don't, okay, they go back a couple days and say, Oh, this is, I don't feel like I'm getting anything from this. But that's |
| 234 | 00:40:19,080 --> 00:40:26,610 | the reason why they fail. Because that's the work that's required. You know, and having 10 pages in a notebook saying, I took notes, you didn't take notes, you |
| 235 | 00:40:26,610 --> 00:40:35,760 | scribbled, you wasted your time you knew going in, you weren't going to be that headstrong about doing it. And that's what is required to learn this. Otherwise, |
| 236 | 00:40:35,760 --> 00:40:43,020 | if you don't have that mindset, this isn't going to be for you. Because it's going to require work, it's going to take effort, and organization and personal |
| 237 | 00:40:43,020 --> 00:40:51,060 | responsibility. If you don't have those characteristics, you need to develop them. If you don't develop them and patience, you must go out there and find |
| 238 | 00:40:51,060 --> 00:41:00,750 | somebody that's good at giving you trade signals. And just submit to that, and you good luck with it. But this isn't it I kind of another portion of the video |
| 239 | 00:41:00,750 --> 00:41:09,180 | I want to show you now. And I'm going to show you this logic actually working today in the NASDAQ E Mini contract. Alright, so we're looking at trading views |
| 240 | 00:41:09,180 --> 00:41:20,910 | chart in the backdrop, and I have the TD Ameritrade opened overtop of it scrunched down so that we can operate with the trading view. And I'm going to |
| 241 | 00:41:20,910 --> 00:41:34,770 | highlight in trading view a fair value gap after a market structure shift that's bullish. And we'll show you an imbalance that is in a premium. A scene that just |
| 242 | 00:41:34,770 --> 00:41:46,950 | the opposite of what I've been showing you change the color on this. And the idea is I want to see it drop down into that green area. But if you look real |
| 243 | 00:41:46,950 --> 00:42:00,300 | close, there's actually a smaller little fairway got just below that green box, okay, this is not supplying demand. The idea is I want to see it drop down to |
| 244 | 00:42:00,300 --> 00:42:07,740 | that green box. And I don't know if it's going to dip into the lower fair value gap. So whenever there's two fairway gaps like this, this is where your notes in |
| 245 | 00:42:07,740 --> 00:42:17,640 | case you missed this, the idea is, I'm going to let it trade down to that lower one, I'll sacrifice that better entry. And if it trades down there and trades |
| 246 | 00:42:17,640 --> 00:42:26,070 | into it, and then comes right back up into that green box, the first higher fair value got, I'll enter when it's in there expected, the lower one won't be |
| 247 | 00:42:26,100 --> 00:42:40,260 | retreated to Okay. We'll be trading with a stop that will have essentially three and a quarter percent risk. I'm not suggesting that's a size of risk for you. |
| 248 | 00:42:40,320 --> 00:42:48,690 | I'm just telling you. That's what I have in mind when I'm taking this trade. And this is again, just my personal belief in this, I'm not suggesting that you |
| 249 | 00:42:48,690 --> 00:42:58,110 | should believe me or subscribe to this view. Because I'm showing you a live account. This does not mean that every trade you take forward from this day on |
| 250 | 00:42:58,140 --> 00:43:08,040 | is going to be like this doesn't mean guarantees profit doesn't. But my belief in my faith is that I've seen this work so many times over the last 30 years |
| 251 | 00:43:08,040 --> 00:43:17,520 | that I know that this is something that's going to work enough for me. And that's all it matters, it's a personal endeavor, human you're speculating. If |
| 252 | 00:43:17,520 --> 00:43:21,480 | you don't have any faith in it, then obviously you would never put live money in it. |
| 253 | 00:43:24,960 --> 00:43:35,850 | Alright, so the markets starting to drop down a little bit in here. And let's say for instance, that it runs up into that upper rectangle first, before going |
| 254 | 00:43:35,850 --> 00:43:42,570 | down the green one, then I would nix the trade. And that means I wouldn't take a trade out, move to the sidelines and probably do nothing the rest of the morning |
| 255 | 00:43:42,720 --> 00:43:50,730 | or watch and see if there's something else that sets up. Alright, so now I'm inside that rectangle. But notice again, I want to see if it goes down to that |
| 256 | 00:43:50,730 --> 00:44:01,260 | lower fair value gap that's not highlighted. I mentioned it when we get into it. That right there, I'm willing to sacrifice that because that's actually a better |
| 257 | 00:44:01,260 --> 00:44:15,930 | buy. But if we go back up into the higher fair value gap and create like a tail on this particular candle, I'll see that as just running for a lower imbalance |
| 258 | 00:44:15,930 --> 00:44:18,960 | and then it should accumulate in here |
| 259 | 00:44:25,409 --> 00:44:34,709 | and I have my trigger on the buy button. Okay, I'm just going to go with a buy at market and then trying to do anything advanced here |
| 260 | 00:44:40,619 --> 00:44:51,779 | okay, and if you look at the bottom of the TD Ameritrade Live account module, you'll see NASDAQ symbol, and you'll actually see my profit and loss going as |
| 261 | 00:44:51,779 --> 00:45:04,349 | the trade is entered. And I took a trade in the E Mini s&p And it was basically a scratch and making $75 Till I put a trade on in, came back on me stop mean, |
| 262 | 00:45:04,499 --> 00:45:05,339 | that was the end of that |
| 263 | 00:45:11,639 --> 00:45:28,799 | alright, I am putting the order in. And there's the confirmation that the orders were received. So now I'm long, you can see at the bottom of the pop out, it |
| 264 | 00:45:28,799 --> 00:45:43,499 | shows that I'm down initially what looks like $20, and I'm up $20 right now. So now down 75. So this is the part of trading where it feels scary. If you've |
| 265 | 00:45:43,499 --> 00:45:51,689 | never traded with live funds, and you just feel like you got to watch that number of how much money you're making and losing. That's the worst thing to do. |
| 266 | 00:45:51,959 --> 00:46:04,499 | Okay, what I'm watching is the chart, does the chart continuously, keep giving me feedback visually, that it's accumulating and not going lower. Now it can go |
| 267 | 00:46:04,499 --> 00:46:13,409 | one more time back into that lower fair value gap that's permissible to me, I'm willing to endure that. I just don't want to see it overlap that entire thing |
| 268 | 00:46:14,429 --> 00:46:24,329 | and go lower, because then I'd have to close the trade and preferably see my stop. Notice the bodies of the candles are staying relatively inside that fair |
| 269 | 00:46:24,329 --> 00:46:33,929 | value, got that shaded green. Now I again, I'm only adding this to the chart because I knew I was gonna record it and share it with you today. But I do not |
| 270 | 00:46:33,929 --> 00:46:43,709 | have this in my charts. Okay, the only annotations I have in my charts is when I'm teaching my students. And since you're here, at least for right now, I'm |
| 271 | 00:46:43,709 --> 00:47:03,239 | calling you, my students. Even the haters Alright, so with the aid of hindsight, because I live this moment, this morning, it does go down one more time, instead |
| 272 | 00:47:03,239 --> 00:47:05,879 | of into those wicks that are forming. |
| 273 | 00:47:27,239 --> 00:47:38,369 | And when you put a trade on, you kind of like give the complete control of everything to the marketplace. And you want to just allow the market to do what |
| 274 | 00:47:38,369 --> 00:47:51,209 | it's going to do and not try to overthink every fluctuation, every little minor movement in the price action is not something that is going to hopefully sway |
| 275 | 00:47:51,209 --> 00:47:58,529 | you. So I've already had it in my mind that it could go back down and make a slightly lower low then there's two little wicks that it's formed inside the |
| 276 | 00:47:58,529 --> 00:48:12,479 | lower fair value got. So since I had that expectation that it could potentially do that. And desensitizing myself to that in the event that it forms. An ideal |
| 277 | 00:48:12,479 --> 00:48:19,799 | scenario would be it doesn't deal with it at all, obviously. But I'm allowing for that price action, especially with the volatility that we've been seeing the |
| 278 | 00:48:19,799 --> 00:48:34,589 | last few days. And what I'm thinking right now is they're taking it down one more time to accumulate more Long's. Notice I'm saying that not it's selling |
| 279 | 00:48:34,589 --> 00:48:36,359 | pressure driving price down |
| 280 | 00:48:47,340 --> 00:48:58,380 | I think this, this is where I took the most heat on the trade if I'm not mistaken, it was like $455 of trade draw down while being still in the trade, |
| 281 | 00:48:58,740 --> 00:49:12,900 | which is below the threshold I've already said. My maximum risk on a trade if I'm trading competitively it's four and a half percent per trade. Generally, I |
| 282 | 00:49:12,900 --> 00:49:18,660 | like to take a trade that I feel comfortable with around three, three and a half percent that's a good trade for me. |
| 283 | 00:49:24,809 --> 00:49:34,859 | Okay, showing signs initially that it's wanting to go higher. And what I'm trying to do is keep my focus on that lower level or the the bottom of that pink |
| 284 | 00:49:34,859 --> 00:49:43,559 | rectangle. That's the low hanging fruit. That's the easy target. I'm telling you to try to practice and learn to reach for the ideal scenario would be go all the |
| 285 | 00:49:43,559 --> 00:49:55,679 | way to the top of that pink. But while you're learning, don't do that, okay. It's easier just to let it trade the low end and just take it off when it gives |
| 286 | 00:49:55,679 --> 00:50:09,479 | it to you. I have my trigger on the flatten button. So cancels a reorder, takes me completely out of the marketplace. As soon as it touches the low end of that |
| 287 | 00:50:09,479 --> 00:50:28,469 | rectangle, I'll collapse the trade. Right now I'm up seven, nine, almost $900 895-930-5925. Again, you can watch that fluctuation in the lower right hand |
| 288 | 00:50:28,469 --> 00:50:42,389 | corner of the pop out. I'm at 1100 plus less than 49. Okay traded there touched it now uncollapse in the trade. They're just like that. And that's it. Now, my |
| 289 | 00:50:42,389 --> 00:50:56,789 | accounts booked in mark to market with $1,190 in game, and the balance now reflects it with $27,915.11. So there's TradingView showing the chart I'm |
| 290 | 00:50:56,789 --> 00:51:04,529 | watching because I like trading these charts. I don't like TD Ameritrade charts. It's I don't like them. So I'm just using the pop out what is why are you |
| 291 | 00:51:04,529 --> 00:51:14,129 | showing us things scrunched up and just I'm not hiding anything. You can see it right there. So let's go over and take a look at the chart now. You can see |
| 292 | 00:51:14,159 --> 00:51:29,039 | nothing has changed or magnified that pop out. So it's entirely taking up the entire screen. We're gonna go to the NASDAQ E Mini contract symbol. And I am so |
| 293 | 00:51:29,039 --> 00:51:30,539 | clumsy with this platform still. |
| 294 | 00:51:36,599 --> 00:51:46,859 | Not sure I'll get real good at by the middle of the year. And hint nudge nudge. Alright, so we're gonna look at this day. And there's the chart on one minute |
| 295 | 00:51:47,099 --> 00:51:58,649 | and I'm going to add an overlay. Okay. But I'm going to put in so you can see where the trades are. In that chart, there's the executions, Bada bing, bada |
| 296 | 00:51:58,649 --> 00:52:08,729 | boom. And there is these areas I showed you on the trading view chart. So for the inquiring minds that wanted to see a live chart, and live account and all |
| 297 | 00:52:08,729 --> 00:52:18,569 | that business in the logic of what I'm teaching in the YouTube channel, I humbly submit this until I talk to you on Thursday. Be safe |