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Last modified by Drunk Monkey on 2022-04-03 19:48
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2 |1 |00:00:06,390 ~-~-> 00:00:16,860 |ICT: Alright, so this is going to be an update to the YouTube channel, because there's a lot of people freaking out thinking I'm missing and gone. I'm on
3 |2 |00:00:16,860 ~-~-> 00:00:28,650 |vacation, folks, but took the opportunity to sit down here this morning with you and try to hopefully make a mile marker on the equity on the slide account.
4 |3 |00:00:29,370 ~-~-> 00:00:40,830 |Don't try to hit 50,000. So I'm watching this potential Mako fair value gap. I want to see that swing high broken. I'll see if we get out here.
5 |4 |00:00:48,240 ~-~-> 00:00:59,610 |Again, this count is really meant to show like averaging like 20% a month. I get questions all the time like you What do I think a student that has gone through
6 |5 |00:00:59,610 ~-~-> 00:01:10,350 |all the teachings have worked out a model? You know, what could they reasonably expect to see? And what can be done without really pushing the envelope? And
7 |6 |00:01:10,350 ~-~-> 00:01:21,720 |this is kind of like my answer to that. Also to kind of like, remind everybody, I'm not just finding cherry pick trades in a demo account. I can trade with live
8 |7 |00:01:21,720 ~-~-> 00:01:32,550 |funds to. Alright, so we're about to break that swing high. If it does, that'll be bullish market structure. I'm thinking we can trade back to one of the daily
9 |8 |00:01:32,550 ~-~-> 00:01:45,720 |chart back to like 14,000 But that's a little bit of a stretch so far intraday. Okay, we have the market structure bullish now. So there's a fair value gap.
10 |9 |00:01:47,130 ~-~-> 00:02:02,400 |I'll highlight that. I'll go into the chart here. Watching this candle, see how it closes because that will complete our imbalance. You can see that great
11 |10 |00:02:02,820 ~-~-> 00:02:05,940 |there. Okay, and give me another
12 |11 |00:02:12,300 ~-~-> 00:02:26,190 |right there, that's the low end of the fairway got. This thing's always tricky. Alright, so now we have the close of that candle. So now I can go off on that
13 |12 |00:02:26,190 ~-~-> 00:02:27,420 |because I'm clumsy with
14 |13 |00:02:33,270 ~-~-> 00:02:43,050 |Think or Swim, change the color here as you can see a little bit better. Now it's technically the open. So it's a little bit of volatility that comes in here
15 |14 |00:02:43,050 ~-~-> 00:02:49,530 |can overshoot that low, I don't care if it does. If it goes back up into the fair value gap, I will bite
16 |15 |00:02:58,770 ~-~-> 00:03:08,460 |Okay, now when you're entering on, like the opening, like 930, equities opening, you could take a long entry here, but you don't know how far it's gonna whip
17 |16 |00:03:08,460 ~-~-> 00:03:16,380 |below that low. And you could be wrong and painfully wrong. So what I'm watching is, does it want to go below that short term low that's already created moments
18 |17 |00:03:16,380 ~-~-> 00:03:26,640 |ago, which will be outside and below the fair value gap. And it does not negate the fair value gap. Because using narrative narrative is as I expect people to
19 |18 |00:03:26,640 ~-~-> 00:03:32,850 |look at that and say, Okay, it's going to go up and they're already trying to buy right now. But their stop loss is going to be below that swing low.
20 |19 |00:03:41,670 ~-~-> 00:03:53,640 |So sell stocks are resting at 13,006 14. They just took those now. Now this is a high risk entry long there. But I'm watching price now entering that same fair
21 |20 |00:03:53,640 ~-~-> 00:04:06,630 |value gap. So one more time to see if it wants to poke a little bit lower. And again, my daily bias is bullish, so I'm looking for higher prices. So I'm going
22 |21 |00:04:06,630 ~-~-> 00:04:16,980 |to go and aim for the 80 level. That'll give me a nice figure to run to 50,000 on equity. I do believe something go higher, but I'm on vacation. So I want to
23 |22 |00:04:17,040 ~-~-> 00:04:37,500 |kind of like let me take this long entry. And there we go. Alright, so now I'm watching price. I want to see expand up now, because it's the opening. And I
24 |23 |00:04:37,500 ~-~-> 00:04:49,200 |don't know where if we whip below that low. I'll give it a chance to go below it just by a little bit and I'll close it at market. Generally I like to trade with
25 |24 |00:04:49,200 ~-~-> 00:04:57,510 |a stop loss. But if I'm trading open like this stops can be taken really really easily and in reverse and then never get the chance to be in it. So I'm allowing
26 |25 |00:04:57,510 ~-~-> 00:05:06,390 |myself a little bit of flexibility I'm not trying to encourage you to try to stop off bleeding, I'm right here ready to click and close it if it trades below
27 |26 |00:05:06,390 ~-~-> 00:05:11,550 |it and wants you to expand up
28 |27 |00:05:17,850 ~-~-> 00:05:31,440 |now I want to see an energetic run above the swing high that was formed just to the left of where we are right now. There is a fair value gap at the 680 level,
29 |28 |00:05:32,070 ~-~-> 00:05:43,050 |and it's above equilibrium, so it'd be a premium market. So that's why I'm gonna be targeting the ad level. Plus it's around 50 handles so that gives me about
30 |29 |00:05:43,050 ~-~-> 00:05:54,870 |$1,000 or more. Alright, so now right now at this moment, I want to see the Expand aggressively, not dilly dally around I want to see it really try to
31 |30 |00:05:54,870 ~-~-> 00:05:57,270 |spread its wings and take off and start moving
32 |31 |00:06:09,390 ~-~-> 00:06:18,180 |there's a small little fear of a gap in the last three candles up, I don't think it needs to fill that in or even revisit it. But if it were to, I wouldn't
33 |32 |00:06:18,180 ~-~-> 00:06:25,980 |expect price to be supported by that. So we're not going below the 630 level
34 |33 |00:06:35,520 ~-~-> 00:06:36,000 |okay
35 |34 |00:06:43,710 ~-~-> 00:06:53,670 |now at this moment, I could put the stop loss one at my entry. And if it takes me out, then I would basically move to the sidelines and wouldn't take any more
36 |35 |00:06:53,670 ~-~-> 00:07:11,520 |trades today because it's FOMC and FOMC, you can trade in the morning, but you got to be done early. If you're trading equities it's important to be aware of
37 |36 |00:07:11,520 ~-~-> 00:07:20,310 |the economic calendar because we're probably gonna have a lot of volatility later on today. I still think I'll push it higher with that. So here's my limit
38 |37 |00:07:20,310 ~-~-> 00:07:29,160 |order and I'll place it there and we'll see if we can get this puppy to reach up here and grab it. I mean, I feel confidence gonna go way beyond that. But for a
39 |38 |00:07:29,160 ~-~-> 00:07:42,690 |little scout, very little drawdown, about three handles of drawdown if that from the entry. Or the cut the candle I entered on and say that like the love from my
40 |39 |00:07:42,690 ~-~-> 00:07:51,690 |entry was only like three animals below. I have to have to go watch the video and see what the actual drawdown was from the point of entry. I'm not sure if I
41 |40 |00:07:51,690 ~-~-> 00:07:59,880 |had any fur did and that's what it was 90 to 60 bucks or so. Not bad if you're trying to make $1,000
42 |41 |00:08:06,150 ~-~-> 00:08:08,070 |small little scout early in the morning
43 |42 |00:08:16,320 ~-~-> 00:08:33,750 |and now this is where neophyte traders are newbies, they get nervous in the wrong thing here, I always thank them on the other platforms I use TradeStation
44 |43 |00:08:33,750 ~-~-> 00:08:45,960 |I use trading view and it's different settings different things you can look for. Alright, so there's my fill on the limit we're rounding out the day and the
45 |44 |00:08:45,960 ~-~-> 00:08:55,530 |month of March I won't be taking any more trades this month. So $1,255 on two trades, about $15 or so in commissions so take that off of there that will be
46 |45 |00:08:55,530 ~-~-> 00:09:04,710 |the net for the day. I'll take you over to the monitor tab here after a scratch yourself show you the the run on right now I think it's gonna go higher but
47 |46 |00:09:04,710 ~-~-> 00:09:13,830 |here's the Monitor tab showing the actual trades today. And you can see the profit and loss since I started this account and the Commission's which are high
48 |47 |00:09:13,830 ~-~-> 00:09:21,360 |because I did a lot of latency tests and I've done a lot of things that would kind of like mimic what a new trader would do once they get into life on
49 |48 |00:09:21,360 ~-~-> 00:09:21,720 |trading.