ICT YT - 2022-04-21 - ICT Mentorship 2022 Episode 19.srt
Last modified by Drunk Monkey on 2022-04-30 15:53
| 1 | 00:00:05,339 --> 00:00:14,609 | ICT: Alright folks, welcome back. A little bit of a different type of presentation style tonight, only blending both of my communities kind of a |
| 2 | 00:00:14,609 --> 00:00:24,539 | private mentorship group, which I usually do a midweek review and commentary and teaching with on Wednesday, Monday and Friday. And then obviously, you know, |
| 3 | 00:00:24,599 --> 00:00:33,779 | YouTube mentorship group. You all get a video from me on Tuesday night, on Thursday night. Well, this is part of the video when I talked to my private |
| 4 | 00:00:33,779 --> 00:00:42,629 | group. I do a little bit of jawboning, so, bear with me, because I'm trying to save myself a lot of time, went on holiday last week, and we went down to |
| 5 | 00:00:42,629 --> 00:00:54,659 | Florida, did some gumshoe detective work, found some interesting things. And I'll bring that up in the coming weeks. It'll be interesting. But in the |
| 6 | 00:00:54,659 --> 00:01:04,889 | meantime, I came back obviously late, we had a lot of traffic, and delayed me, I couldn't get back home to do the video for the YouTube community. And I got home |
| 7 | 00:01:04,889 --> 00:01:16,259 | late today and had a lot of admin tasks due because of mentorship and the businesses that I'm running. So with that said, just know that this is not going |
| 8 | 00:01:16,259 --> 00:01:25,529 | to be a regular thing. I'm doing it because I have a lot of work to do when I'm producing these videos for my private group, so I am blending both. Okay, so I'm |
| 9 | 00:01:25,529 --> 00:01:37,889 | going to cover what I promised I was going to cover in the YouTube commentary on Tuesday night, but was unable to do so. And then also, I'm going to give the |
| 10 | 00:01:37,889 --> 00:01:48,719 | private mentorship group their commentary and blend both communities together. Okay, so it'll kind of give you a little bit of a, an appreciation for just how |
| 11 | 00:01:48,719 --> 00:02:00,269 | much I really am teaching here on YouTube. Okay. And just so you know, I noticed a lot of you that are commenting in the videos, and you're asking how to join |
| 12 | 00:02:00,269 --> 00:02:10,589 | the private mentorship group. And what is the distinction between that and the YouTube community? Well, the private mentorship group, they get to see things |
| 13 | 00:02:10,649 --> 00:02:18,899 | before it happens, okay. And then as I call moves before it happens, I call analysis, I break that down before it happens. And I'll give you a little taste |
| 14 | 00:02:18,899 --> 00:02:26,759 | of that what was given to them on Monday night. And I'll use that to segue into the teaching that I promised that I would give you YouTube community on Tuesday |
| 15 | 00:02:26,759 --> 00:02:38,789 | night, but I wasn't able to. And kind of give you also a preview, kind of like what I'm gonna be doing when I started doing live streams. What do you say, I |
| 16 | 00:02:38,789 --> 00:02:47,879 | see he's gonna be doing live streams. He said, he said he's going to do live streams. Didn't they say he would never do that? Yep, it's fine. 20 I'm doing |
| 17 | 00:02:47,909 --> 00:02:58,319 | everything they said I wouldn't do. Okay. So anyway, the point is, I'm going to give you a little bit of a taste of what I'm going to be outlining in real time |
| 18 | 00:02:58,649 --> 00:03:07,439 | with intraday charts, okay, which is a lot easier, because it's, it's quicker, number one, and it won't feel quicker when you're watching it with me. Okay, |
| 19 | 00:03:07,439 --> 00:03:17,669 | it's going to be probably me droning on about things while the price action is moving. Okay, so I'm going to drive most of you that don't like all of my |
| 20 | 00:03:17,849 --> 00:03:27,239 | lectures where I have a lot of insight being shared and things that you don't think are relevant to you, because you want to get to give me an entry pattern, |
| 21 | 00:03:27,329 --> 00:03:36,119 | give me a targeting technique. And that's it. That's all I need. That's not all you need. Okay, because if it was that easy, everybody would be rich. But I |
| 22 | 00:03:36,119 --> 00:03:45,359 | understand everybody has to go through that growth period. But when I get to that part, I'll tell you, this is the part where I'm going to show you basically |
| 23 | 00:03:45,359 --> 00:03:57,539 | what I'm gonna be doing in the live streams. Okay. So with that, I'm just want to make this point here, because my private group, you know, who you are. I have |
| 24 | 00:03:57,539 --> 00:04:07,979 | been telling you for over a year now to download all of your videos, okay, because the server will not be hosted any longer. starting June 1 2022. As I |
| 25 | 00:04:07,979 --> 00:04:17,789 | mentioned, we're going to be moving away from videos, and we're going to forum posts only. So everything I say usually in audio commentary over a video, I'll |
| 26 | 00:04:17,789 --> 00:04:27,719 | be just simply typing out on a chart because we're all now charter members, so I don't need to do so much. legwork with the audio. Okay, or commentary, I can |
| 27 | 00:04:27,719 --> 00:04:34,079 | point to certain things and you'll know exactly what I'm referring to what it means and what it's useful for. And, and obviously, I'll |
| 28 | 00:04:34,080 --> 00:04:42,270 | point to where it's gonna go before it's gonna go. So there you go. makes things a lot easier, quicker for me, everyone else as well. And it doesn't cost me a |
| 29 | 00:04:42,570 --> 00:04:51,120 | fortune to run this community. It's rather large. And since you all don't pay any more, I'm not running a mentorship anymore where you pay me, okay, no one |
| 30 | 00:04:51,120 --> 00:05:00,900 | can join this. So that's the distinction. They get to see analysis before the fact and incorporate the things that they learned whereas on YouTube, I'm giving |
| 31 | 00:05:00,900 --> 00:05:10,110 | you one specific model, a bread and butter approach where you can literally go in, there isn't a lot of moving parts. I've stripped it down to its Chrome, |
| 32 | 00:05:10,140 --> 00:05:24,360 | okay? No fluff in it. Okay, it's straight, right to the brass tacks. Now, the same thing I've done with this YouTube model, my mentorship, that is chartered |
| 33 | 00:05:24,360 --> 00:05:35,310 | member, they can do the same thing with what was taught to them, they can strip it down, or they can make it as intricate and complex as they want. That's the |
| 34 | 00:05:35,310 --> 00:05:45,360 | private mentorship group, it goes into a lot of detail that is honestly, overwhelming for the majority of them. And as I mentioned, when I promoted it, |
| 35 | 00:05:45,570 --> 00:05:56,610 | it's only for the freaks that want to just know everything. Okay? Not that it's going to be useful for everyone. But in contrast to what they get and what I'm |
| 36 | 00:05:56,610 --> 00:06:11,400 | giving you on YouTube, I've literally laid a working model with very easy rules that don't really go beyond what I'm going to show so far. That in my opinion, |
| 37 | 00:06:12,120 --> 00:06:21,780 | can make you a consistently successful analyst. Let's say it that way, take it I can't promise profitability. No one can. The only thing I promise and this is |
| 38 | 00:06:21,780 --> 00:06:29,010 | what I promised in my product, mentorship to its, I promise that you're going to learn how to read the markets better than anybody else would be able to show |
| 39 | 00:06:29,010 --> 00:06:38,340 | you. And I can prove that these things work. I do it every single week, every single week, I outline these things. And if it doesn't work, it won't hold up. |
| 40 | 00:06:39,000 --> 00:06:47,580 | So right away, you can read the comments in the YouTube, mentorship, and you can see people are really excited because they're seeing the results of simply going |
| 41 | 00:06:47,580 --> 00:06:54,450 | in and looking for the things I've outlined. I'm not giving you a lot of different things to look for, I'm giving you a very specific thing during a |
| 42 | 00:06:54,450 --> 00:07:03,000 | specific time of day. And if you focus there, over a period of time, you'll start to see things that repeat over and over and over again. Now they're going |
| 43 | 00:07:03,000 --> 00:07:12,660 | to have subtle differences, but they generally had the same framework. And what do I mean by that? Well, they'll have certain signatures in price, where it |
| 44 | 00:07:12,660 --> 00:07:22,590 | creates the fair value gap. And then it breaks a low comes back up and fills in the gap. Maybe it partially fills it maybe goes half way, maybe completely |
| 45 | 00:07:22,590 --> 00:07:31,920 | closes it in. We don't need that. We don't need to be precise. That's what I'm trying to show you here that you don't need to be pinpoint precision accurate, |
| 46 | 00:07:32,430 --> 00:07:44,010 | you can be very well average in your entry. And as long as you're using sound money management, you can obviously ferret out, you know, setups that will yield |
| 47 | 00:07:44,010 --> 00:07:55,110 | consistency. Okay, so with all that said, Now, you know the real story. I'm not getting shut down, okay, I'm not gonna start teaching. In fact, I'm probably |
| 48 | 00:07:55,110 --> 00:08:05,400 | going to now do more YouTube, how's that sound? Okay, just to get under the skin of those that just don't like it. Alright, so the dollar index is our daily |
| 49 | 00:08:05,400 --> 00:08:14,550 | chart. And I mentioned obviously, this is, you know, for the folks that were with me on Monday, so you're gonna have to just take that in stride if you |
| 50 | 00:08:14,550 --> 00:08:24,060 | weren't part of that group. But nonetheless, the idea is that we were looking for a bullish dollar. We've been bullish on dollar for a while now. And I was |
| 51 | 00:08:24,060 --> 00:08:31,980 | mentioning that we would go for the full 100 level, we hit that I mentioned, we were good one on one. And I mentioned how we could probably draw back down in |
| 52 | 00:08:32,160 --> 00:08:42,690 | after hitting one to one that's one of our targets. And then second one was going to be one Oh 1.947. And just for clarity sake. The other one was just |
| 53 | 00:08:42,870 --> 00:08:53,250 | short of one of the three, but I just rounded the one and three. I'm not calling a top here in dollar, you know, I don't do that. I'm staying with the online |
| 54 | 00:08:53,310 --> 00:09:02,970 | narrative that dollar should keep getting pressed higher. This is just the in my mind right now until proven otherwise, just a retracement after hitting another |
| 55 | 00:09:03,480 --> 00:09:15,300 | premium level. Now what changes my mind on about the dollar being bullish if we go below these lows in here, that to me signals a potential term or enemy term |
| 56 | 00:09:15,300 --> 00:09:24,180 | high forming in the marketplace. And it will take a little bit of time even after that for me to change my long term bullish stance on dollar. So when I |
| 57 | 00:09:24,180 --> 00:09:24,900 | think in short, |
| 58 | 00:09:26,940 --> 00:09:34,680 | allowing for sloppy price action, as I mentioned on Monday night's commentary for the private group, and it is going to be confusing for me. Oh, you're |
| 59 | 00:09:34,680 --> 00:09:45,210 | confusing me. Deal with the folks. Okay, it's free. So I mentioned on Monday night that we could probably see some sloppy price action. And I'm not in a |
| 60 | 00:09:45,210 --> 00:09:56,310 | hurry to make decisions about actually going in and taking live trades again yet because we just came off Passover is a lot of holiday volume. And a lot of money |
| 61 | 00:09:56,310 --> 00:10:09,120 | stays on the sidelines during that weekend and it may not seem Be practical to some of you, but it's true. So we have to work out that little bit of law in the |
| 62 | 00:10:09,120 --> 00:10:16,230 | volume. And I get that a few days. And in fact, it might be the rest of this week and and maybe next week, things will be a little bit cleaner in terms of |
| 63 | 00:10:16,230 --> 00:10:26,580 | the price action. So, higher prices on dollar, that's what I'm looking for until proven wrong. And we've obviously seen two targets here hit the 100 level and a |
| 64 | 00:10:26,580 --> 00:10:36,300 | one on one, rather handsomely. So I have that level highlighted here, we'll drop down into the hourly chart now. Okay, you see how we moved up in the one on one |
| 65 | 00:10:36,300 --> 00:10:48,960 | level? Look what the left here. See, that is how clean that is. Price does not like leave those types of formations, and it's weak. So in other words, even |
| 66 | 00:10:48,960 --> 00:10:55,500 | though we had a market drop, even though we took out a swing low, even though we had a fair value gap, even though it came up here and filled it in look at the |
| 67 | 00:10:55,500 --> 00:11:05,640 | bodies, respecting that it's beautiful. It's beautiful price action. Yes, there's a little bit of movement above it with the wicks here, okay. But the |
| 68 | 00:11:05,640 --> 00:11:15,570 | bodies lookouts telling the story there. That is algorithmic price action, okay, that is delivered by an algorithm that is not buying and selling pressure. Okay, |
| 69 | 00:11:15,720 --> 00:11:29,790 | that's not supply and demand. It's not harmonic, it's none of that stuff is the algorithm delivering price on its terms, and we as speculators, have the |
| 70 | 00:11:29,850 --> 00:11:41,970 | fortunate opportunity to be participants in these opportunities when they are presented, but they're not going to be profitable. Because of things we learned |
| 71 | 00:11:41,970 --> 00:11:52,560 | in books, indicators didn't drive markets higher or lower. Any retail logic did not drive markets higher or lower, these markets are going to book print and |
| 72 | 00:11:52,560 --> 00:12:04,830 | deliver on the basis of its algorithm. Now, either you understand that and get in line with that or get run over. If you're winning in any school of thought, |
| 73 | 00:12:04,830 --> 00:12:13,980 | and I don't care what it is, I've done all of that stuff. Okay. The only time that I can look back and see when my trades were profitable, is when I was in |
| 74 | 00:12:13,980 --> 00:12:22,890 | line with what the algorithm would do anyway. Now, some of you watching, and you may be watching this as a new viewer, for some of you, this may be the first |
| 75 | 00:12:22,890 --> 00:12:31,920 | viewing opportunity you had with me. It's gonna sound like this guy's talking conspiracy. Well, it's not conspiracy, it's obviously we're running electronic |
| 76 | 00:12:31,920 --> 00:12:41,190 | markets now. And AI is driving it. And there's really nothing you can do to change it. So the only thing I can suggest to you is just investigate the things |
| 77 | 00:12:41,190 --> 00:12:51,630 | I suggest are happening in the marketplace. And I promise you, if you spend no on a good month, you'll either see it, if you don't move along, there's a lot of |
| 78 | 00:12:51,630 --> 00:13:01,380 | other people that are very friendly on YouTube, I'm not saying that they're good. I'm not trying to represent anybody saying as a good teacher. But there's |
| 79 | 00:13:01,380 --> 00:13:12,630 | other people out there who are willing to give you their time, and you go chase them. But with the dollar index, showing even the signatures that I have been |
| 80 | 00:13:12,630 --> 00:13:22,740 | showing you in the YouTube community, doesn't this low being broken here in a very vague gap? It's right there, we have another higher value gap. So what did |
| 81 | 00:13:22,740 --> 00:13:32,220 | that mean? It could trade up into that. But we're looking for the entry in here. And then look at that. Now, is this a woman's or no? About a two minute chart? |
| 82 | 00:13:33,270 --> 00:13:44,310 | Five? No, of course not 15 minute news. It's an hourly chart. And that same fractal nature of that pattern, I'm teaching you in the YouTube community, it |
| 83 | 00:13:44,310 --> 00:13:56,910 | exists here. Now if we look at the high and the low, that whole price swing here, from that low up to this high here, that parent price swing, if you put a |
| 84 | 00:13:56,910 --> 00:14:04,710 | fib on that and find out 50% of that it's gonna put you out in this area syndrome eyeball on it, but ultimately right below that low isn't it interesting |
| 85 | 00:14:04,710 --> 00:14:17,910 | that's exactly what I was teaching you in the YouTube model. But I'm teaching you to use it on any market Don't be on this team mentality because I'm already |
| 86 | 00:14:17,910 --> 00:14:26,970 | see it brewing in the comment section. A lot of futures traders are like yeah, ICT you know, I love the NASDAQ trades an E Mini s&p. I love it. We're future |
| 87 | 00:14:26,970 --> 00:14:27,750 | traders. We |
| 88 | 00:14:27,750 --> 00:14:38,040 | love what you're doing. Like I just discovered futures trading. I did that stuff back in the 90s 1992. I cut my teeth on all that stuff. This is applicable to |
| 89 | 00:14:38,040 --> 00:14:48,450 | Forex. It's applicable to bonds. It's applicable to futures. Okay. I have students that will swear by it working in crypto for the folks that are asking |
| 90 | 00:14:48,450 --> 00:14:58,710 | about crypto. I am not a crypto trader. If I traded crypto, I would blow my accounts out. Okay, there you go. I'm not good at trading crypto. If I was, |
| 91 | 00:14:58,740 --> 00:15:08,430 | believe me, you'd hear about it. but I'm not. Okay, so I bloomed raft was planted. Okay, so I'm good. In Forex, I'm good at futures. That's it, okay, I |
| 92 | 00:15:08,430 --> 00:15:16,740 | don't need to be anything else, I don't need to be a jack of all trades and meet everyone's expectations. If it doesn't tickle your fancy, I apologize. But |
| 93 | 00:15:16,740 --> 00:15:24,990 | again, back to the way I said earlier, you're welcome to go see someone else if it's not what you're looking for. But it goes to about 50% of that parent price |
| 94 | 00:15:24,990 --> 00:15:35,580 | like here, from here to here that's algorithmic. So we have a break in structure here. If there's a gap here, the volume of the move is inside the bodies of the |
| 95 | 00:15:35,580 --> 00:15:47,610 | candles that we always allow for some inherent price action with the wicks and the tails of the candles, but we're looking for the underlying narrative, it's |
| 96 | 00:15:47,640 --> 00:15:56,610 | likely to go back in here and fill this one single candle that created that imbalance. This candle is low, this candle is high, that small little imbalance |
| 97 | 00:15:56,610 --> 00:16:06,180 | right in here, he goes up and fills in that spend some time there, then breaks aggressively attacking all the stops below here, here here fills in the gap and |
| 98 | 00:16:06,180 --> 00:16:17,700 | then goes right below that low. Why? Because equilibrium exists between this low and this high. Why did it drop like this? Because it hit our second target of |
| 99 | 00:16:17,700 --> 00:16:31,230 | one on one and plus it's 100 points or pips above the full 100 level whereas, whereas here it is. Okay, so we really stretched above it. And then we had this. |
| 100 | 00:16:31,560 --> 00:16:43,740 | Now to me, this looks a little bit like them trying to produce the sentiment idea that the dollar has taught. I'm not convinced of that yet. Okay. It could |
| 101 | 00:16:43,770 --> 00:16:52,980 | and I could be absolutely wrong. And these highs are may be the, you know, the ones that top the dollar that always exists. That's where I can be wrong. I |
| 102 | 00:16:52,980 --> 00:17:00,900 | don't mind being wrong by not trying to pick tops and bottoms. I don't mind that. Okay, it doesn't make me feel inferior doesn't make me feel like I don't |
| 103 | 00:17:00,900 --> 00:17:12,480 | know what I'm doing. It keeps me on the right side of institutional order flow, institutional order flow is routed on higher timeframe bias. Okay. And that |
| 104 | 00:17:12,480 --> 00:17:23,100 | being for the dollar, it's bullish? Well, it's bullish, in my opinion, and say it that way. So while I don't subscribe to the idea that we have topped here, I |
| 105 | 00:17:23,100 --> 00:17:34,350 | like the idea that we came back down into this run. And it looks like for everyone else that may be looking for resistance ideas, and a break in in the |
| 106 | 00:17:34,350 --> 00:17:43,530 | market structure and break and retest idea. I don't think it's that simple. I know some of you arguing Snickers Oh, is that simple. That's fine. That's for |
| 107 | 00:17:43,530 --> 00:17:51,570 | your model. But I'm talking about calling tops and bottoms in the marketplace. That's what I'm specifically honing in on. I think that we're going to revisit |
| 108 | 00:17:51,570 --> 00:17:59,160 | that one on one level, and we have unfinished business above it. That means it's likely go a little bit higher than that. That's what I'm subscribing to right |
| 109 | 00:17:59,160 --> 00:18:10,410 | now. I'm not convinced at all that we've changed gears. Now, why am I beating this up? Because some of you didn't listen to me when I said that. Some of you |
| 110 | 00:18:10,410 --> 00:18:18,690 | didn't listen to me when I said the second time, because you have selective hearing, you're waiting for the word order block, or fair value, or breaking |
| 111 | 00:18:18,690 --> 00:18:31,530 | market structure. Because you came into this video with preconceived notions or expectations that I'm going to somehow qualify your analysis that you think is |
| 112 | 00:18:31,530 --> 00:18:40,560 | gonna happen in forex. So therefore, when I say these buzzwords, your ears are gonna perk up, and you can be real attentive then. And then what will happen is, |
| 113 | 00:18:41,370 --> 00:18:48,540 | you're gonna do something in the marketplace based on that, and not even listen to anything else in this video, because I'm talking too much. That's going to be |
| 114 | 00:18:48,540 --> 00:18:58,050 | the excuse, but you're not listening. Okay, get the listen and understand what I'm teaching you. That's the lecture here. Do not try to pick tops and bottoms. |
| 115 | 00:18:58,230 --> 00:19:06,810 | You don't need that. There's a lot of opportunity between intermediate term highs and lows. I don't mind missing the long term high in a long term oil. I |
| 116 | 00:19:06,810 --> 00:19:16,050 | don't need that. I can be wrong in trades, trying to be bullish on dollar I don't trade the dollar. But if I'm bullish on dollar that means essentially I'm |
| 117 | 00:19:16,050 --> 00:19:20,490 | what bearish Euro bearish British Pound versus US dollar. |
| 118 | 00:19:21,150 --> 00:19:31,260 | All foreign currencies I'm bearish on and bullish on dollar. That's essentially what I'm saying here. So I don't want any of you taking what I'm saying here in |
| 119 | 00:19:31,260 --> 00:19:44,670 | one sentence or one little notation that I make reference to in a specific chart and make a sentiment idea. Okay, or a justification for your trade. So just be |
| 120 | 00:19:44,670 --> 00:19:56,970 | mindful that okay. Alright, so 50 minute time frame, we finally made it. Southside liquori wrestling below these lows in here swing low, and we had |
| 121 | 00:19:56,970 --> 00:20:06,180 | sellside wrestling below here as well. So as I mentioned to Clean up here, they're really building idea that this is resistance. I don't think that's the |
| 122 | 00:20:06,180 --> 00:20:17,760 | case. And we might want to go a little bit deeper. If it retreats back, let's go back up to here, we could trade back to the 100 level, maybe sneak below it just |
| 123 | 00:20:17,760 --> 00:20:27,930 | a little bit to make everybody think this is really done. If I was making the market for $1, I would take it down below 100, dividend to 99.95, or nine, two |
| 124 | 00:20:28,650 --> 00:20:36,270 | in that area here, and then start to work at higher. That's it. That's how I would do it. Because it was convinced everybody out there that the dollar is |
| 125 | 00:20:36,300 --> 00:20:45,480 | probably topped. And then I will take it the other direction. You know what I'm talking about? I happens most of the time in your trades, you get any take |
| 126 | 00:20:45,480 --> 00:20:56,760 | something off? It's not as bullish as I thought it was, and it went lower. I've been here focused on I'm not making funny. Alright, so here is that hourly, fair |
| 127 | 00:20:56,760 --> 00:21:08,820 | value gap. But now look at it with the lens of the 15 minute time frame. So we have this area here. But then we have this imbalance right there. So it comes up |
| 128 | 00:21:08,820 --> 00:21:21,900 | a little bit deeper, closes that in what did these two up close candles represent? A bearish order block? So we can use the low of the lowest up close |
| 129 | 00:21:21,900 --> 00:21:36,330 | candle? And its opening price. You draw that out and time hammered it. Why is this an order block? Well, it's because it's where price was delivered on the |
| 130 | 00:21:36,330 --> 00:21:47,010 | upside, even though it's indecisive candles here, that up close, right before this displacement that a downside? It's not listen to me, folks. It's not what |
| 131 | 00:21:47,010 --> 00:21:55,380 | these folks are taking from our videos and writing books on Amazon. Completely wrong. And there's a lot of things I'm going to keep from even my private |
| 132 | 00:21:55,380 --> 00:22:04,560 | mentorship group about waterblock theory until my books are released. Okay, and I've purposely held that back. Why is he holding back everything is because I |
| 133 | 00:22:04,560 --> 00:22:13,890 | have four books coming once a month of fiction, and three are technical. Okay, so I'm going to put things out there. Because there's a lot of people out there |
| 134 | 00:22:13,890 --> 00:22:22,860 | have falsely stated that they created this, or I copied it for something. And you don't know anything about autographs, okay, trust me, you don't know |
| 135 | 00:22:22,860 --> 00:22:33,990 | anything about it. But you know enough to find something that repeats over and over again. In the second book, in my trilogy, I'm writing, |
| 136 | 00:22:34,440 --> 00:22:43,200 | where's it coming out, you'll know more about that, as I come, there's a whole pandemic thing messed up the delivery schedule I had for him. But the second |
| 137 | 00:22:43,200 --> 00:22:53,040 | volume in that trilogy, I'm going to divulge a lot about OtterBox. So that way, the world, the community in trading will know that it's mine, and you'll know |
| 138 | 00:22:53,040 --> 00:22:59,280 | more about it there. So anything that happens after the fact, I'm going to correct a lot of people that think they know talking to order blocks, because |
| 139 | 00:22:59,490 --> 00:23:09,030 | actually harming people that pay them or listen to them. And it's not true. So really what they're saying is the stuff that goes along with supply and demand, |
| 140 | 00:23:09,390 --> 00:23:18,300 | and I'm not supplying the man. But why are these candles here an order block is because we had the change in the state of delivery, where it's already dropping, |
| 141 | 00:23:18,510 --> 00:23:31,920 | then it goes higher. So the algorithm is putting a kind like a bookmark, okay, this is where it will want to refer back to in the future. Okay, think of it |
| 142 | 00:23:31,920 --> 00:23:41,970 | like that. So, like, say you're reading a book, okay, and you're in this chapter, and all of a sudden, real life kicks in, you gotta go back to work, or |
| 143 | 00:23:42,090 --> 00:23:52,470 | you can't read anymore, because your spouse says, you know, you need to do some things around the house. And hint, nudge nudge. So you have to stop reading, you |
| 144 | 00:23:52,470 --> 00:23:59,940 | put your little bookmark and and page where you're at. Okay, and then you come back to it later on? Well, when you stop reading, that's essentially where this |
| 145 | 00:23:59,970 --> 00:24:07,950 | candle closes. And then all of this happens while you're away from the book. And then when you come back to the book, here, you pick up with a storyline. And |
| 146 | 00:24:07,950 --> 00:24:14,400 | what was the storyline? It was dropping, it just had a little pause in here, and then we'll go right back to the storyline. So maybe that analogy doesn't fit |
| 147 | 00:24:14,400 --> 00:24:25,710 | you. But it makes sense. A lot of ways to me, okay, it's like a reference point that the algorithm will go back to this. The algorithm doesn't know where your |
| 148 | 00:24:25,710 --> 00:24:37,200 | specific stop is at all times. Your broker does. But the algorithm doesn't necessarily know where your stop is, or my stop is at any given time. But it's |
| 149 | 00:24:37,200 --> 00:24:48,210 | based on the logic that is really promoted and regurgitated all the time in books and seminars and course teachers and things. Put your stop right above the |
| 150 | 00:24:48,210 --> 00:24:57,270 | line. Put your stop right above the highs, you know, it's always the same thing all the time. And it doesn't take a rocket scientist to sit down on the chart |
| 151 | 00:24:57,270 --> 00:25:03,930 | and say, yeah, well if it's been dropping fine Short Term high most recently, and that's where right above that is going to be BizStats. For anyone that's |
| 152 | 00:25:03,930 --> 00:25:12,510 | short, they trailed their stop loss down. So what does that mean? It's like anyone that went short up here and was fortunate to be right. And it does this |
| 153 | 00:25:12,510 --> 00:25:20,130 | move here starts to break down, their stop would be moved from here to right above this short term high, that trailing stop loss mentality, okay? I'm not a |
| 154 | 00:25:20,130 --> 00:25:28,200 | real big fan of rushing my stop. And that's why I teach the way I teach because I'm looking for things that make sense. And I'm not trying to strangle the |
| 155 | 00:25:28,200 --> 00:25:44,520 | marketplace. But this order block, here is a change in the state of delivery, it's been going lower, it's likely to go lower. This displacement qualifies that |
| 156 | 00:25:44,520 --> 00:25:57,420 | Orderbook because it creates a fair Vega and the narrative it's likely to go lower. Now, this lower movement is short term in nature, its counter long term |
| 157 | 00:25:57,420 --> 00:26:10,710 | bias, okay? You can and will absolutely lose money trading this style of trading, because you're going against the higher timeframe order flow, this type |
| 158 | 00:26:10,710 --> 00:26:20,490 | of trading, if you go in and you're trying to be very nimble trying to go in and think you can swing up and down, buy, sell, buy, sell, and you just recently |
| 159 | 00:26:20,490 --> 00:26:28,770 | started, you're going to absolutely blow your account. Okay, that is exactly what's going to happen. So don't do this. So why am I teaching this so that way |
| 160 | 00:26:28,770 --> 00:26:36,930 | you don't do it. Understand that this is all part of a natural retracement. And you can trust and study and back test all the things that I've been teaching |
| 161 | 00:26:36,930 --> 00:26:46,440 | you. And they exist even in these moves here. But you may not. And don't be offended by this. You may not have the skill set to see this type of retracement |
| 162 | 00:26:46,440 --> 00:26:57,630 | lower and short it. That's okay, you don't need to have that skill set. I have students that are really good with trading contrarian setups like this, that |
| 163 | 00:26:57,720 --> 00:27:06,930 | don't trust bias, because they think the moment they get in, it's going to turn on them. So they like to take contrarian trades where they trust it more because |
| 164 | 00:27:06,930 --> 00:27:08,730 | it just makes sense for it to be broken. |
| 165 | 00:27:09,990 --> 00:27:19,980 | If that makes any sense. In other words, they they know that this possibly may keep going higher, because they hear me saying it. But that doesn't change their |
| 166 | 00:27:20,430 --> 00:27:31,320 | convictions about being a contrarian. And in some ways, they're going against what I'm saying is a higher timeframe order flow bias, but they know how to pick |
| 167 | 00:27:31,320 --> 00:27:40,410 | these opportunities where there is confirmation that is not likely to continue at that very moment. So therefore, they'll go in and go against that bias and |
| 168 | 00:27:40,410 --> 00:27:49,530 | take trades. Now, is that wrong? No, because it matches their personality. And they know where those opportunities exist. Do I think that all new students |
| 169 | 00:27:49,530 --> 00:28:01,110 | should go in with an expectation and mode of study? Absolutely not? No way absolutely no way. Because if that's what you really are, internally, as a |
| 170 | 00:28:01,110 --> 00:28:10,560 | trader, it'll materialize and manifest itself over time. But the only way you're going to know that is by learning the way I'm teaching it, because I'm teaching |
| 171 | 00:28:10,560 --> 00:28:22,350 | you how to trust the higher timeframe bias, okay, and that teaching, the trend is your friend, because the things that they're using to promote these ideas and |
| 172 | 00:28:22,350 --> 00:28:29,670 | are subscribed to so since I don't subscribe to these views. I don't look at it that way. So I'm looking at how the market moves from discount the premium |
| 173 | 00:28:29,670 --> 00:28:40,380 | premium to discount and also within market structure. So some of you at times will point and say it looks like this or it looks like that over here. It's only |
| 174 | 00:28:40,380 --> 00:28:53,880 | momentary familiarity, it looks familiar, but it's not there's a whole lot of other things going on that just sometimes look very similar to certain things. |
| 175 | 00:28:54,120 --> 00:29:02,490 | But there's a specific criteria that takes place that I'm looking for that I teach my students and you learn a very simple approach to that that's existing |
| 176 | 00:29:02,490 --> 00:29:15,510 | right here in this chart, and the YouTube model Alright, so Euro dollar, daily chart. Alright, so it's been a while since I've talked to the YouTube community, |
| 177 | 00:29:15,750 --> 00:29:29,130 | I think it's been like two weeks or so. Something to that effect. But I drove your attention to that low I said we were aiming for that and as luck would have |
| 178 | 00:29:29,130 --> 00:29:41,550 | it, look, it went down there. So that is an example of bias. That's an example of what I've actually talked to my community about for well weeks as it was |
| 179 | 00:29:41,550 --> 00:29:50,400 | starting to come down we were up here looking for it to come down to that low. I mentioned this low here. I mentioned these lows here and this low there. And you |
| 180 | 00:29:50,400 --> 00:30:00,630 | all on YouTube knew that we were looking for this run on Euro the problem and this is why I'm not trading Forex at the moment. Okay, no Forex is not broken? |
| 181 | 00:30:00,630 --> 00:30:06,480 | No, I don't think they're ever gonna change the algorithm. No, I don't think that they're gonna change their algorithm, or go against the things I'm teaching |
| 182 | 00:30:06,480 --> 00:30:19,020 | because the way I'm teaching is the market itself. It's the internal engines that make these price deliveries appear on your chart. Okay? That's why I'm |
| 183 | 00:30:19,020 --> 00:30:31,620 | teaching it. And with with no real reservations, because I know, me teaching, this isn't going to change anything. The level of trades that are being pushed |
| 184 | 00:30:31,620 --> 00:30:44,310 | through these markets, is not going to be changed by you watching these videos, because honestly, I've taught for years. And there's a lot of people that just |
| 185 | 00:30:44,310 --> 00:30:51,540 | simply cannot follow instructions, they can't follow rules, and they want to fault somebody else, they want to fault this one over here, they want to fault |
| 186 | 00:30:51,540 --> 00:30:59,520 | me, they want to fault the concepts, when there's people already out there proving just from the free stuff, that they're passing, competitions and |
| 187 | 00:30:59,520 --> 00:31:07,890 | challenges and you making money in their own accounts, you're doing very well, in demo, they all have a wide range of experiences already. And I've only |
| 188 | 00:31:07,890 --> 00:31:16,980 | started the last week or so in January. So this business is very personal. And it's going to reveal a lot of things about you and you're going to see things |
| 189 | 00:31:16,980 --> 00:31:27,300 | that you didn't recognize before. And sometimes it's going to be ugly. You're not as good as you thought you were, you're not as astute as you thought you |
| 190 | 00:31:27,300 --> 00:31:37,890 | were, you're not as responsible as you thought you were. Believe me, I learned those lessons in the 90s. And it was not fun, and you resist it. And the folks |
| 191 | 00:31:37,890 --> 00:31:45,720 | that resist it will never get it. And they'll never learn how to trade properly for anyone else, because they have a deep rooted issue within themselves. So it |
| 192 | 00:31:45,720 --> 00:31:51,750 | won't make a difference. If somebody else steps in and says, Hey, I got something that's going to do it for you. ICT complicates things, I'm going to |
| 193 | 00:31:51,750 --> 00:32:01,860 | give you this thing here, you push a button and it gets you know, the same underlying issues that are plaguing the individual will manifest in any trading |
| 194 | 00:32:01,890 --> 00:32:09,810 | approach because they lack responsibility. Number one, they lack the adherence to rules. |
| 195 | 00:32:11,160 --> 00:32:22,170 | And they have not put enough time. If you're not getting instant gratification, you're done. That's what the main critical thing about me is, because I'm |
| 196 | 00:32:22,170 --> 00:32:30,630 | lecturing, I'm teaching you what you're going to encounter, you may not feel this is applicable to you, but I guarantee you stay long enough in this, you're |
| 197 | 00:32:30,630 --> 00:32:39,870 | going to be met with this. And if I don't tell you how to deal with it, overcome it, or think about how you should be overcoming it, when you get to that bridge, |
| 198 | 00:32:39,960 --> 00:32:48,240 | okay, because you're going to get to it eventually. Different times different people, everyone grows differently. But you're gonna have these crossroads where |
| 199 | 00:32:48,240 --> 00:32:54,840 | you come to where you feel like, you know, I don't think I should be doing this anymore, I think I should be doing that. Or the grass looks greener on that over |
| 200 | 00:32:54,840 --> 00:33:03,300 | here, or this person made money over here. And I haven't made money this week. So maybe my stuffs broken. Let me go and look at this. That's nonsense. There's |
| 201 | 00:33:03,300 --> 00:33:15,150 | people out there that don't train like me. And they make millions. Because they are good money managers. Period. That's it. They have something that gives them |
| 202 | 00:33:15,150 --> 00:33:27,660 | a decision making process. They call it their system, Okay, are there edge. But really, they're just good money managers period. They have something that |
| 203 | 00:33:27,690 --> 00:33:37,650 | instigates the idea of a transaction in the marketplace. They have a faith based system. And believing that as long as it doesn't do this low down to a level |
| 204 | 00:33:37,650 --> 00:33:46,920 | where they will put a stop, they'll stay with that idea. And then when it gets to another level, they get out. That's trading. Okay. But the idea is, I don't |
| 205 | 00:33:46,950 --> 00:34:01,110 | think that profitable systems outside of what I'm teaching are linked to their actual system. It's linked to their adherence to their rules, sound money |
| 206 | 00:34:01,110 --> 00:34:10,410 | management, and not over trading and not over leveraging. Because literally, I could flip a quarter, and you could do with Salmela management, you could make a |
| 207 | 00:34:10,440 --> 00:34:18,120 | account be profitable. Now that sounds crazy. Okay. Do it with a demo. So I'm suggesting to you here, |
| 208 | 00:34:19,140 --> 00:34:28,350 | flip a quarter if it's head you buy flip a quarter if it's tails, you sell short, do it every single day, Don't risk more than a half percent. Aim for 1% |
| 209 | 00:34:28,530 --> 00:34:43,350 | and do that by the open, sell to open. That's it. It's all you do. Use a user 30 pip stop and trade a forex pair and do it. Okay. And just test the idea and see |
| 210 | 00:34:43,350 --> 00:34:55,650 | how hard is the bully account? It takes a lot of effort to blow that account. But over time, you can see that it can show profitability. Now, if you take that |
| 211 | 00:34:55,650 --> 00:35:08,190 | application and apply it to okay, what happens if you limit Your number of trades, if you remove the frequency at which you trade intra week, that means |
| 212 | 00:35:08,190 --> 00:35:16,440 | what days of the week you're actually going to specifically trade on? And then within those days, what specific time of that day are you going to trade on? And |
| 213 | 00:35:16,440 --> 00:35:24,780 | and what asset classes? Are you gonna trade? And inside that asset class, what specific market? Are you gonna trade? And inside that specific market? Are you |
| 214 | 00:35:24,780 --> 00:35:33,990 | going to be bullish? Are you gonna be bearish? So you're refining everything down to a an algorithm or a recipe, because a recipe is an algorithm, okay, you |
| 215 | 00:35:33,990 --> 00:35:41,100 | have this list of ingredients, and you put these ingredients and find them in a specific order. And at the end, you should have an unexpected result being a |
| 216 | 00:35:41,100 --> 00:35:53,070 | cake or cookie or whatever it is that your mother or grandmother used to make for you. Bottom line is, I'm giving you recipes. Now, it's up to you to decide |
| 217 | 00:35:53,250 --> 00:36:02,130 | on what you're going to do with this information. I show it as you see every single week, in my mentorship group, I talk about where the markets gonna go |
| 218 | 00:36:02,130 --> 00:36:11,910 | beforehand, I'm not telling you to buy or sell short, anything, at any one particular level, I'm pointing to where the markets gonna go, because I've |
| 219 | 00:36:11,910 --> 00:36:19,470 | already taught you entry strategies. But I'm not trying to force a specific entry strategy on any one student or all of you collectively because there is no |
| 220 | 00:36:19,470 --> 00:36:31,350 | pressing all of you into a mode. Because that will absolutely guarantee failure, and failure as an as a mentor. And it'd be failure for a community of students. |
| 221 | 00:36:32,220 --> 00:36:40,560 | I am cognizant that there is a wide disparity between my personality and everyone else's. And just as well as if we were all in a room, we would all have |
| 222 | 00:36:40,590 --> 00:36:51,450 | different personalities as well, that's going to be an issue for all of you. So my teaching style allows for you to find your own style in the tools and |
| 223 | 00:36:51,450 --> 00:37:02,430 | concepts that I teach. Now I can trade with every single one of them. And my better students can do it with a good list of them. But I don't have one student |
| 224 | 00:37:02,430 --> 00:37:11,910 | out there that can do everything. Well, perfectly. That doesn't I haven't had that yet. I like to believe before I pass on. I will. But I don't have that yet. |
| 225 | 00:37:11,910 --> 00:37:25,410 | But I do have some extremely good traders, some consistently good, profitable traders, but also have fake failures, these folks just simply can't get it now |
| 226 | 00:37:26,790 --> 00:37:35,190 | in the YouTube community, give it time you're going to hit you're going to see people commenting that they can't do it. Okay, my courage meant to all of you is |
| 227 | 00:37:35,220 --> 00:37:45,990 | the same thing, I'm going to tell you that I tell my private group in the form, do not gang up on them. Don't make fun of them, don't say Oh, well, you know |
| 228 | 00:37:45,990 --> 00:37:56,970 | this, that nothing. be encouraging to it. Because really, if they're posting that they're hurting, they feel frustrated. And they're basically saying, unless |
| 229 | 00:37:56,970 --> 00:38:07,590 | someone intervenes, right now, I'm going to quit. And I have done that. There's been nobody to tell me keep going. Okay, back in the 90s, I just had to |
| 230 | 00:38:07,620 --> 00:38:20,250 | persevere. I'm hoping by me showing these things, publicly talking about what it's going to happen, where it's gonna go, it proves to you that it's possible |
| 231 | 00:38:20,250 --> 00:38:27,870 | to forecast these price moves. Now, what you do is you go back inside all the moves here and decipher what it is I'm |
| 232 | 00:38:29,430 --> 00:38:40,170 | pointing to and why it was useful for you to find a setup in it. And is that setup repeat enough for you to justify that specific way or approach of trading. |
| 233 | 00:38:40,170 --> 00:38:51,750 | What I mean by that some of my students can't day trade, they just don't have the ability to do it. They have businesses or school, or they have jobs. And |
| 234 | 00:38:51,780 --> 00:39:01,260 | they have to be making ends meet. They're elsewhere, they can't be in front of charts. So they have to position trade. So that means they're going to have to |
| 235 | 00:39:01,260 --> 00:39:10,950 | trade on a daily chart or a four hour chart. And that's fine, you can do that. It just takes a lot of time to move from these levels here, down to here. And |
| 236 | 00:39:10,950 --> 00:39:21,030 | you got to wait a long time for the next new setup. I'm not a fan of that. But I'm not trying to discourage anybody that has to operate under those restraints, |
| 237 | 00:39:21,150 --> 00:39:29,160 | but I mentioned on the YouTube community. In the mentorship videos for this channel, I mentioned that we were going to be aiming for that low. We got that |
| 238 | 00:39:30,330 --> 00:39:40,770 | it's sloppy on its delivery, but it got down there. Back to why I'm not touching Forex. It's because of this type of movement here. Everything is really muddy |
| 239 | 00:39:40,770 --> 00:39:51,630 | right now. The reason why currencies are not moving well is because trade is being hindered. There is a supply chain congestion. All these factors are |
| 240 | 00:39:51,630 --> 00:40:03,930 | causing currencies, not to move. If you look around, everybody that is been in this business for a long time. That's consistently trading profitable, they're |
| 241 | 00:40:03,930 --> 00:40:13,800 | noteworthy. They're kind of like the pillars of the trading community. None of them are really talking about currencies right now, because it's a quiet asset |
| 242 | 00:40:13,800 --> 00:40:23,580 | class. It's asleep right now. I don't think it's going to stay this way forever. Okay. And when it springs back to life, everybody's gonna want to go back into |
| 243 | 00:40:23,580 --> 00:40:37,020 | currencies, okay. But right now, it's a really slow market. And it's really hard for a trader to learn in this environment, because you want to see excitement, |
| 244 | 00:40:37,020 --> 00:40:44,850 | you want to see animation and the price action, and I get it. That's what we want as traders. So what I've done, and I do this in my own analysis, studies |
| 245 | 00:40:44,850 --> 00:40:53,520 | and teachings and trainings and the way I teach my private group to nail a test, we're in the comment section, you tell me, I'm a liar. Okay? If I'm not doing |
| 246 | 00:40:53,520 --> 00:41:02,880 | this, every week with you all, every month, every year, I navigate the marketplace. So I'm taking their attention to where the markets are going to be |
| 247 | 00:41:02,880 --> 00:41:11,220 | big movers. Where's the excitement? I do that beforehand. I'm not waiting for something to happen. Oh, let's go over here. Now. It's exciting. No, I'm always |
| 248 | 00:41:11,220 --> 00:41:23,970 | before the big news start coming. Forex is not eight right now. Okay. index futures has been. Now we're also entering a period where it could get a little |
| 249 | 00:41:24,150 --> 00:41:34,590 | dry, may typically can create some scenario where it's bearish. I'm looking for evidence that's going to continue. But we'll get into that when we talked about |
| 250 | 00:41:34,590 --> 00:41:46,290 | index futures, but Eurodollar delivered as we were expecting, we got the lower prices. And that same movement and idea of reaching for that low here is |
| 251 | 00:41:46,290 --> 00:41:57,000 | basically what I'm going to be doing with live streams, but just for intraday charts. Okay, so in other words, what am I, what I, what do I promise to do with |
| 252 | 00:41:57,000 --> 00:42:04,410 | all of you, and the few times in May, that I'm going to do the live streams, I'm basically on an outline where I think the draw on liquidity is now what does |
| 253 | 00:42:04,410 --> 00:42:12,510 | that draw liquidity was below this low here, all of this movement here, each candle going lower. Each day it went down, even though it made a low here on |
| 254 | 00:42:12,510 --> 00:42:20,910 | this candle and a low on this candle and a low here, even this candle being up close and this candle, not quite yet making that low. But then one day we |
| 255 | 00:42:20,910 --> 00:42:33,420 | smashed down through it, and we dug a little deeper on the more time, not deeper than that level deeper below that low. On a daily basis, you have 12345 days |
| 256 | 00:42:33,420 --> 00:42:36,060 | below that old low, and we came back up in |
| 257 | 00:42:38,970 --> 00:42:50,340 | I'm going to basically point to where I think intraday price action is going to go. Now, I don't want any of you to take that as an invitation to go in trade on |
| 258 | 00:42:50,340 --> 00:43:00,360 | that. That's the worst thing you can do. Not because I suck not because I can't trade not because I'm not good at analysis. Because I don't want you to do that. |
| 259 | 00:43:00,360 --> 00:43:11,790 | Yeah. I'm forcing you to study price action, you have to learn how to tape read. If you can't tape read, you will not be consistent in your trading period and |
| 260 | 00:43:11,790 --> 00:43:23,880 | story as the way it is. Because everything you'll be doing if you make money is really not based on the market. It's based on circumstance. And believe me, I've |
| 261 | 00:43:23,880 --> 00:43:35,970 | had periods of being profitable. With just dumb luck. It happened folks in the 90s I've really thought when I first started that while I've read a book, you |
| 262 | 00:43:35,970 --> 00:43:43,980 | know, and I watched a couple of videos, and wow, this stuff really works. And what I was really doing was this buying a perpetual bull market and everything |
| 263 | 00:43:43,980 --> 00:43:52,980 | was going up. I could throw a dart at the wall and whatever it hit, I was buying that and it made money. Everything was going on. So it tricked me in thinking I |
| 264 | 00:43:52,980 --> 00:44:05,730 | knew what I was doing at the time. And I didn't so I want you to take the live things I do in May. And sometimes it will be Forex majority time is gonna be |
| 265 | 00:44:05,760 --> 00:44:17,550 | futures. Don't be part of that team mentality. Futures is the better thing Forex is the better thing is this right now futures. I have a vested interest in |
| 266 | 00:44:17,850 --> 00:44:32,070 | proving to the YouTube community that number one, I know those markets better actually, than Forex. I started in futures in 1992. The same things that I |
| 267 | 00:44:32,070 --> 00:44:40,230 | always answer everyone Okay, let's say if you're wrong ICT Okay, I understand I asked you all the time in the comment section. What happens if you teach this to |
| 268 | 00:44:40,230 --> 00:44:49,500 | so many people? Will the algorithm be changed? Will they change the way it is? Will they go after people that use this? Blah, blah, blah? I don't believe |
| 269 | 00:44:49,500 --> 00:45:01,020 | that's the case. But let's go out on a limb and say ICT is wrong. Okay, say that the whole world goes to one currency and everything goes upside Now and forex no |
| 270 | 00:45:01,020 --> 00:45:13,440 | longer is there, what would I do? Well, if I was here, I would go back to trading futures, period. So I don't want you to think that teen futures is |
| 271 | 00:45:13,440 --> 00:45:22,200 | better than teen Forex, because believe me, when Forex comes back to life, it's going to smoke index futures. And it's going to be all kinds of excitement back |
| 272 | 00:45:22,230 --> 00:45:32,880 | in currencies. Okay? It that's the way it is, folks, it moves in and out of new asset classes are really, really hot, and then they go cold, and something else |
| 273 | 00:45:32,880 --> 00:45:45,090 | gets really exciting. It's this navigation through the asset classes, that experience and those with experience doing it, know how to do 30 years, you |
| 274 | 00:45:45,090 --> 00:45:54,660 | know, I've been doing this stuff, 30 years. And those 30 years, the greatest lessons I learned was what I'm suggesting and talking about right now, some of |
| 275 | 00:45:54,660 --> 00:46:02,970 | you young guys, okay, it's just too much talking. But these are the things that you need to understand because they're going to be the impediments to you |
| 276 | 00:46:03,240 --> 00:46:11,550 | succeeding, because you think every day, there's going to be a big move in the euro. Because you see something, just because you think you see something |
| 277 | 00:46:11,550 --> 00:46:21,300 | doesn't mean that that markets gonna do anything. Look how consolidated that was, for this day, here, here, here and here. Then finally, it is whips down |
| 278 | 00:46:21,300 --> 00:46:30,660 | below that low, that can be very frustrating for someone that has been expecting this thing to go down. And, for instance, look at the folks that we've been |
| 279 | 00:46:30,690 --> 00:46:41,730 | trying to break out, go short, below that low here, it does. So here and then comes ripping right back up in same day. And that might have changed their |
| 280 | 00:46:41,730 --> 00:46:51,360 | opinion about the market going lower. But I teach that that liquidity below that low is where it's really going to go. So these upclose candles really are just |
| 281 | 00:46:51,360 --> 00:47:03,720 | opportunities to go short. And then drive it lower. Okay, so I'll talk a little bit more about the live streams when you get to the E Mini s&p part. Alright, so |
| 282 | 00:47:03,810 --> 00:47:13,710 | admittedly, this video is a lot more talking than I normally do is because I'm conscious that there are two communities here. So I'm having conversations with |
| 283 | 00:47:13,710 --> 00:47:21,150 | both of you. Now, to me, it's normal, I can do these kinds of things, I can go back and forth and start a conversation, leave it, do some other things and come |
| 284 | 00:47:21,150 --> 00:47:32,490 | back and fill in the gaps I want to talk about. But I know this is the type of video that's going to drive most of you that are really, really critical. It's |
| 285 | 00:47:32,490 --> 00:47:38,040 | gonna drive me nuts. But I promise you, if you listen to me, there's some really good stuff in this video. |
| 286 | 00:47:39,330 --> 00:47:48,600 | So let's take what you find useful. And what you don't find useful, just filter out. So here's the hourly chart on Euro market traded down aggressively here on |
| 287 | 00:47:48,600 --> 00:48:01,020 | this day, swept below that low. Here's that daily low. We go back at me, because I've done a lot of talking. Didn't make note of that. That daily low is 1.0806. |
| 288 | 00:48:01,020 --> 00:48:11,850 | And one two bet that laundry here. Okay, so an hourly chart, it breaks down slides below it. And I don't know all this price action in here. See all that. |
| 289 | 00:48:12,600 --> 00:48:25,410 | This is during Passover week. Last week when I wasn't trading, and we hit that same low here. We rally create a fair value gap there, run right back up to the |
| 290 | 00:48:25,440 --> 00:48:39,660 | old highs in here. And optimal trade entry from the high to the low. We went right up into a short term premium. So as a short term trader going counter |
| 291 | 00:48:39,660 --> 00:48:49,170 | trend, remember I was referring to when $1 index where I have students that are contrarian, if I'm long term bullish on dollar, they knew where to go in and |
| 292 | 00:48:49,170 --> 00:48:59,370 | pick their shots where it looks like retail will see it as a reversal. And that's how they made their model. So I'm bullish on dollar. They'll wait for |
| 293 | 00:48:59,370 --> 00:49:07,230 | retail to think that that bullish dollar has topped and then they'll go in and find their setups. So hopefully that made it more clear about what I was saying |
| 294 | 00:49:07,230 --> 00:49:16,980 | earlier. Well what would that look like with Euro well it would look like this we have a run back down in too old support was an old daily low rallies creates |
| 295 | 00:49:16,980 --> 00:49:27,870 | a Faraday get Biden here, right back above the bodies of these candles into the 62% retracement level because 62 and 79% retracement levels are what I teach is |
| 296 | 00:49:27,900 --> 00:49:39,060 | optimal trade entry. range, but it's not optimal trade entry for the setup. Okay, so now, we could be a buyer down here and trade back up to 60% interest |
| 297 | 00:49:39,060 --> 00:49:47,730 | level or the bodies. Okay, round the round above the bodies of these candles here. Just pick the 62% tracing level and just make it really easy for yourself. |
| 298 | 00:49:48,570 --> 00:50:03,210 | But that'd be a nice little run in here. It's not a lot of pips. I mean, what is it? 2650 It's 1020 30 ish. For 3040 pips, there abouts. Not that's the bread and |
| 299 | 00:50:03,210 --> 00:50:12,660 | butter type setup. But that would be the version of a contrarian trade against the bias that I'm suggesting to my private group, which has also been shown to |
| 300 | 00:50:12,660 --> 00:50:22,620 | you in the YouTube community being bearish on Euro till we gotten below that low here. Now for the YouTube community, you're all scratching like, okay, get to |
| 301 | 00:50:22,620 --> 00:50:30,060 | the point where it's gonna go, where's it gonna go next? Okay, this is what I mentioned on Monday to my private group. Now, I'm telling you now, just because |
| 302 | 00:50:30,120 --> 00:50:37,770 | we're doing this style of teaching tonight, because I don't have the time to do multiple copies of the same video in my private group, then make a YouTube |
| 303 | 00:50:37,800 --> 00:50:48,990 | video. So what I'm choosing to do is make a very, very long, irritating video that has a lot of information in it for YouTube. So I don't have a bias at the |
| 304 | 00:50:48,990 --> 00:50:58,530 | very moment. For your notes, I don't have a clean level, it's going to go to and then reverse. Okay. At this specific recently, and you both communities have |
| 305 | 00:50:58,530 --> 00:51:06,630 | known it. But right now, we're back in that sideways consolidation, congestion area, and we have to wait for displacement. And what does that mean? Wait for |
| 306 | 00:51:06,630 --> 00:51:14,550 | something like this. Okay, if we get on the upside, okay, great, that's fine. It'll give us something to work with in terms of arrange, if it breaks lower, |
| 307 | 00:51:14,550 --> 00:51:23,490 | it's fine. It's something we can work with in terms of arrange as well. What do I mean by that? Well, from this high, that low, we went below these lows in |
| 308 | 00:51:23,490 --> 00:51:34,650 | here, and then we created a short term break in market structure here, so this low, broken came back down and fill the fairway, you got spent some time in here |
| 309 | 00:51:34,650 --> 00:51:44,700 | a lot of time. Okay, this is typical with a holiday. And I'm starting into a new week, it's slow volume, and then we get this little bit of movement. And we pop |
| 310 | 00:51:44,700 --> 00:51:55,260 | right back up into this range high and low fitzer sentiments like right here, above 50%, we're going to be looking for a premium. So 60 to 70%, tradesman |
| 311 | 00:51:55,260 --> 00:52:07,890 | level, that would be your objective. So if we get a displacement, lower, I'm going to look for this type of move here. This repeated later on. Vice versa, if |
| 312 | 00:52:07,890 --> 00:52:15,510 | it goes higher, I don't care at this point. Because it hit my objective. My objective was, I want to see your go below that low. Okay, this level here on |
| 313 | 00:52:15,510 --> 00:52:25,920 | the daily chart, since it's done that, and I am neutral near term on dollar, I'm still long term bullish. But right now, I don't see a setup to go in and say, |
| 314 | 00:52:25,920 --> 00:52:30,390 | Okay, now there's something to do. Now, for new traders or new students here. |
| 315 | 00:52:31,650 --> 00:52:39,480 | That doesn't sound feasible, you just said, You've been doing this for 30 years, you can't find a trade right now, not on a daily chart, not on the four hour |
| 316 | 00:52:39,480 --> 00:52:48,270 | chart, and not on the hourly, at the very moment, at the time of this recording, the way the charts are laid out in front of me, I have nothing to go on at this |
| 317 | 00:52:48,270 --> 00:52:57,300 | very moment. That's also another reason why I like to do this because I can't really tick off the private community, because I'm not really giving this |
| 318 | 00:52:57,390 --> 00:53:07,830 | YouTube channel. The prognostication I usually give them. But I'm teaching and lecturing. And I'm giving a kind of like a, a compare and contrast of what |
| 319 | 00:53:08,130 --> 00:53:15,480 | they're getting versus what you all get. And neither one of you should be fighting with one another or jealous of another, okay, because you all had |
| 320 | 00:53:15,480 --> 00:53:27,210 | opportunity to join, and no one's allowed to do it anymore. So let's go on to Euro dollar 15 timeframe. And you can see here, again, really nice, fair value. |
| 321 | 00:53:27,330 --> 00:53:38,640 | This is what I was referring to on the hour chart, it's really clean here on the 15 Minute. Now, when I say clean, what do I mean by that we have a nice run up |
| 322 | 00:53:38,640 --> 00:53:51,840 | here. He returns back to the old daily low, and then we have what displacement, that real energetic run higher that is algorithmic, when it creates this gap |
| 323 | 00:53:51,870 --> 00:54:03,720 | here. We don't care that it's still stretching up here. Now as a new trader, or someone that is impatient, that doesn't have an understanding of what they're |
| 324 | 00:54:03,720 --> 00:54:16,260 | looking for, it will feel like an impossibility for them to say, I'll wait to get back down here and then buy. Because what will happen is once it does, when |
| 325 | 00:54:16,260 --> 00:54:21,990 | it trades down like this, they're not going to look at that and say oh yeah, I feel good about that. They're gonna think, Man, this thing. What happens if it's |
| 326 | 00:54:21,990 --> 00:54:31,440 | going down below these equal lows? Because that's what everybody on YouTube is now teaching because I mentioned it. Now. What's the narrative? We're short |
| 327 | 00:54:31,440 --> 00:54:44,100 | term, right now oversold on a daily? Why? Because we took out that old daily low, we went below it. So now it's taken what out of the marketplace sell stops |
| 328 | 00:54:44,100 --> 00:54:52,590 | or sells high liquidity. So what's the market going to look for now? By sign liquidity. That means just got to go higher, get that so energetic move or that |
| 329 | 00:54:52,590 --> 00:54:59,850 | seems really low and it creates a displacement. When it trades back down into that? I'm thinking okay, well, it's created this short term high, it's going to |
| 330 | 00:54:59,850 --> 00:55:10,080 | one Don't run back up into that. But even if it doesn't, if I just get above the bodies of these candles in here and reach up invest 62% retracement level on the |
| 331 | 00:55:10,230 --> 00:55:17,670 | hourly chart as I mentioned right before I transition to the 15 minute timeframe, we reached up into that 62% retracement level. So that will be an |
| 332 | 00:55:17,670 --> 00:55:26,550 | opportunity to be a buyer here and sell should not sell syrup and sell your long there and be done. And there's about 30 pips or so that is a bread and butter |
| 333 | 00:55:26,550 --> 00:55:38,130 | trade. Now, that is not a style of trade that I would recommend you as a new developing student, because it's going against the order flow. These are types |
| 334 | 00:55:38,130 --> 00:55:49,230 | of moves that you want to go back and back test. And because you're doing that, what will happen is over months, and years, oh, here we go. He's kicking the can |
| 335 | 00:55:49,230 --> 00:55:56,040 | down the road, justifying why these concepts don't work because I can't make them work. That means that didn't spend enough time that says excuse now it's |
| 336 | 00:55:56,040 --> 00:56:07,050 | the truth, you are going to look for a setup that you watched a video one time, and you're going to expect it to work every single day, between 830 in the |
| 337 | 00:56:07,050 --> 00:56:15,810 | morning and 11 o'clock. And because you see what looks like a fair value got your bias is gonna be wrong. Or your expectation on the daily candle itself, the |
| 338 | 00:56:15,810 --> 00:56:23,220 | individual daily candle, which I'll talk about and teach later on this video. Yes, it's an impactful video tonight, it may be boring, but I got a lot of stuff |
| 339 | 00:56:23,220 --> 00:56:32,250 | in this one. You're going to do something incorrectly, because you're in a rush, because you want to feel like you have to know right away it works for you. |
| 340 | 00:56:33,270 --> 00:56:41,610 | And there is no right away in trading, except for blowing your account. Because if you don't know what you're doing right away, you're gonna blow your game. |
| 341 | 00:56:42,360 --> 00:56:51,960 | It's what's gonna happen. So I talk and I teach like this. So that way, you know, you have been fortified with all these things in advance, what to look out |
| 342 | 00:56:51,960 --> 00:57:00,540 | for what not to fall victim to how to think about it, and mental perspective on what you're doing as a trader and what the market should be doing. They have to |
| 343 | 00:57:00,540 --> 00:57:10,560 | be in agreement. And it takes time for that to happen. It doesn't happen by watching a video doesn't happen in 40 days, okay, it doesn't happen in 120 days, |
| 344 | 00:57:10,680 --> 00:57:19,620 | it doesn't happen in the first year, it takes a little bit of time. So there's a lot of fumbling that you're going to have to do that, figuring out what you are |
| 345 | 00:57:19,620 --> 00:57:28,770 | looking for. Because right now if you're just starting, I'm promising you right now, you have no idea what you want to do. And you're probably not realizing |
| 346 | 00:57:28,770 --> 00:57:37,680 | that what you're going to evolve into the end results of a speculator, what you're doing as a trading model and how you're trading the markets. You don't |
| 347 | 00:57:37,680 --> 00:57:53,250 | even know what that is yet. That's a gradual thing that it becomes. Well, obvious to someone that has taken this on as a business not I'm going to school. |
| 348 | 00:57:54,060 --> 00:58:01,350 | I'm treating this like a college degree. Well, that's good when you first start, but you need to treat this like a business. Are you going to open up a business |
| 349 | 00:58:01,350 --> 00:58:07,350 | and just not worry about it every day, you're going to be worrying about it every day. And you can put all your time and effort into it. That's how you |
| 350 | 00:58:07,350 --> 00:58:16,350 | should treat this every day. Whether the transactions that you make are profitable or not. They're all learning experiences. So that's why back testing |
| 351 | 00:58:16,350 --> 00:58:24,630 | is important. Keeping a trade journal is important. annotating your charts in referring back to how it worked off of that daily chart, which is what I'll talk |
| 352 | 00:58:24,630 --> 00:58:34,050 | about tonight also. Alright, finally made the British pound I'm gonna go through some pretty quick because I spend a lot of time jawboning. Right so we have a |
| 353 | 00:58:34,050 --> 00:58:43,440 | little bit of fear of a GET HERE rallied up in that mentioned we were gonna go below that low we did. And as I mentioned on Monday, we would have a |
| 354 | 00:58:44,580 --> 00:58:54,780 | consolidation type sloppy type, price action environment where we're not yet out of the holiday doldrum. Last week, a lot of money was on the sidelines. So we're |
| 355 | 00:58:54,780 --> 00:59:06,660 | waiting for the smart money to put things in motion. And then it'll give us a no bias as to what we're looking for. I'm maintaining a bearish stance on British |
| 356 | 00:59:06,660 --> 00:59:16,350 | Pound versus US dollar, because I have a long term bullish stance on dollar. So everything I think eventually we'll bend the knee and go lower like euro, pound, |
| 357 | 00:59:16,500 --> 00:59:27,240 | Ozzy, all those currencies should go lower. If I'm wrong, it'll trade above the fair value gap. If it does, I'm wrong. As long as we're below the fair value gap |
| 358 | 00:59:27,240 --> 00:59:37,230 | here. I'm bearish on cable. And for new people cable is pound versus dollar, just a nickname for it. Alright, so here is the hourly chart. I'm going to get |
| 359 | 00:59:37,230 --> 00:59:48,360 | very simple sweet to the point. There's nothing here absolutely zero nothing in this chart. Nothing to trade on. Not one thing. I can't look at this as like, |
| 360 | 00:59:48,390 --> 00:59:59,100 | Oh, I gotta set up here or I could do that. There's nothing. Okay, nothing here at all. Take a deep breath and hear that again. There's nothing on this chart. |
| 361 | 00:59:59,550 --> 01:00:02,760 | There is no it worthy. Now think about that. |
| 362 | 01:00:07,859 --> 01:00:17,099 | Does it feel comfortable? For somebody who doesn't feel comfortable? It's like what? There's got to be No, there's nothing here. That's the difference between |
| 363 | 01:00:17,099 --> 01:00:26,039 | what I mentioned when I was looking at the 15 timeframe on Euro. I said how nice and clean it was. There's nothing clean in this price action. It's all back and |
| 364 | 01:00:26,039 --> 01:00:35,999 | forth, back and forth. It's sloppy price action. Okay, when I say things are sloppy, this is it, there's nothing that you can very easily pick out as, okay, |
| 365 | 01:00:35,999 --> 01:00:43,739 | it's bullish, it's gonna pull down to a specific level, and I expect it to rally from there, I don't have any of that here. Nothing's in this chart that's |
| 366 | 01:00:43,829 --> 01:00:58,079 | noteworthy, or what I would ever put money behind. So when it looks like this, we roll on here is the 15 minutes anchoring. Sloppy, nothing here. So when you |
| 367 | 01:00:58,079 --> 01:01:05,219 | go through your charts, if the marketplace that you're looking at creates these scenarios, where it's just really messy, what's the first thing you should |
| 368 | 01:01:05,249 --> 01:01:15,479 | consider closing the charts, turning your computer off, and go do something you love to do? Spend time with your family, good friends, and hobby chasing |
| 369 | 01:01:15,479 --> 01:01:23,009 | whatever it is you're doing otherwise, outside of the markets, which is what all of you should have a hobby outside of this, not just watch my videos or someone |
| 370 | 01:01:23,009 --> 01:01:31,619 | else's stuff, have something that you do outside of trading, because you have to have an outlet, and otherwise you're gonna burn out. But when the markets look |
| 371 | 01:01:31,619 --> 01:01:40,109 | like this, you don't touch them. I'm not talking about that. My community knows that I have not been really, and it breaks my heart because this has always been |
| 372 | 01:01:40,109 --> 01:01:51,809 | my favorite pair. But I have not been touching British pound for a long time, months, months have gone by. I've not done one trade in this currency pair. |
| 373 | 01:01:52,379 --> 01:01:59,699 | Because it's just simply not delivering what I'm looking for. Now some of you are thinking, there's proof right there. They're changing the algorithm. No, |
| 374 | 01:02:00,029 --> 01:02:13,529 | it's just a mess right now, the whole world's all messed up. And trade is been affected by that. So it's going to show its hand and manifest itself in the |
| 375 | 01:02:13,529 --> 01:02:25,619 | currencies. And this is what you have, trust me folks in the offing just over the horizon, there's something about the happen. And when that happens, these |
| 376 | 01:02:25,619 --> 01:02:34,259 | markets are going to real, real excited, and you're going to be moving around a lot. And everybody's gonna be like, Man, I'm gonna go and trade Forex. Trust me |
| 377 | 01:02:34,289 --> 01:02:43,259 | that day is coming. What days? Exactly? I don't know. But I'm being patient until it manifests itself. When it does, you're gonna know it, everybody's gonna |
| 378 | 01:02:43,259 --> 01:02:54,359 | note. But when that creates that, man, it's going to be what I call salad days, it just means easy trading. So don't, don't get bummed out by looking at this |
| 379 | 01:02:54,359 --> 01:03:05,399 | and thinking, Oh, this is actually a good thing, because it teaches you when not to be doing anything. When it feels alien, it feels counterintuitive, or |
| 380 | 01:03:05,399 --> 01:03:14,009 | counterproductive, or the opposite of what you're in here learning about. You're thinking, I'm learning how to do this. So actually open up a chart and go and |
| 381 | 01:03:14,009 --> 01:03:23,879 | find a setup. Yes, that's reasonable for a neophyte. But you want to learn how to do this profitably, right? I mean, I would hope you would want that. You want |
| 382 | 01:03:23,879 --> 01:03:30,839 | to do things consistently, right? Hopefully, that's what you're trying to do. I'm trying to promote that in you, me, me, that's not what you thought about |
| 383 | 01:03:30,899 --> 01:03:40,289 | when you first started. But you want to be able to know why you're doing something and when not to do it. Knowing when not to do something is crucial, |
| 384 | 01:03:40,289 --> 01:03:50,399 | because it'll keep you from blowing your account. It'll keep you from being undisciplined, and it'll give you peace of mind, it'll remove that fear of |
| 385 | 01:03:50,399 --> 01:04:00,449 | missing out. I don't have any fear of missing any of this price action here. It's not losing any sleep over it. And you shouldn't either. And when your |
| 386 | 01:04:00,449 --> 01:04:10,649 | market, whatever that market is, is performing like this, just leave it alone. Take a break. You don't need to trade today. You don't need to trade tomorrow. |
| 387 | 01:04:11,069 --> 01:04:27,839 | If you feel that understanding this and listen, okay. But the potato chips down, put your drink down. Listen. You do not need to trade every single day. Despite |
| 388 | 01:04:27,839 --> 01:04:42,029 | what you're thinking and feeling. You don't. What you need to do is understand why today or tomorrow is a date. It's highly probable that your bias will |
| 389 | 01:04:42,029 --> 01:04:51,149 | deliver to a target to you or you know, there's likely to be treated to and I'll talk about that later in the video. But you have to have an expectation of where |
| 390 | 01:04:51,149 --> 01:05:05,849 | it's going to go. Where's it going next higher or lower? If you can't reasonably outline that Then you're gambling. And if you're trying to trade every day, |
| 391 | 01:05:06,030 --> 01:05:18,840 | or we have this impulse, that you have to be trading, you have to be in or you have to be doing it. That's a gamblers mentality. I do not promote gamblers, I |
| 392 | 01:05:18,840 --> 01:05:33,990 | do not promote gambling. I do not promote over leveraging, I do not promote lucky over leveraged trading. I promote one contract, work on trying to double |
| 393 | 01:05:33,990 --> 01:05:42,540 | your account. How long does it take? I don't know, how long is it gonna take you? I don't know. But that should be your goal. Work with the lowest leverage |
| 394 | 01:05:42,930 --> 01:05:53,730 | and try to double your account. If you don't have the patience to do that, you're a gambler. You're trying to rush to make big money. And there's only one |
| 395 | 01:05:53,730 --> 01:06:03,570 | end result that comes from that. You blow your account. I'm telling you, folks, if you don't believe me, watch when you try to do it. And you're going to be |
| 396 | 01:06:03,570 --> 01:06:11,940 | coming back and saying in the comment section. You're right, I wish I would have listened. And then the true test is Will you repeat the same error? Thinking |
| 397 | 01:06:11,970 --> 01:06:22,230 | you're just weren't schooled enough yet? Okay. You don't have the skill set yet? Now you do because you watch two more videos. And then you do it again? Then |
| 398 | 01:06:22,230 --> 01:06:29,250 | you're right in the comment section, I just blew my account. Because I didn't do this. And I didn't do that. What's wrong with me? I'm telling you what's wrong |
| 399 | 01:06:29,250 --> 01:06:41,280 | with you. You're rushing, and you're gambling. And I don't teach that. So you're doing what everything I'm telling you not to do. So are you really ready to be |
| 400 | 01:06:41,280 --> 01:06:52,140 | taught? No. Once you break yourself, and you have no more money in your account, and you have no more money to put back in the account. And you are questioning |
| 401 | 01:06:52,140 --> 01:07:05,460 | whether or not trading is for you that that is the student that's ready. Because they have nothing to go in and gamble with. And it's all up from there. Or they |
| 402 | 01:07:05,460 --> 01:07:16,200 | say trading is not for me. And guess what? That's the right decision. Because you know yourself better than anyone else. If you decide that, you know what? |
| 403 | 01:07:17,310 --> 01:07:25,650 | I've tried this, I've tried that it isn't working. Trading is not for me. Well, God bless you, you've probably saved yourself a fortune. Because there's a lot |
| 404 | 01:07:25,650 --> 01:07:34,050 | of people that this will never work for. Because they are not disciplined. They're not responsible. They're not gonna, they're not going to follow the |
| 405 | 01:07:34,050 --> 01:07:45,630 | rules. And they're not going to do things as they were taught. And they'll find fault with everything but themselves. And that is mental illness. I experienced |
| 406 | 01:07:45,630 --> 01:08:03,120 | it. I know it firsthand. And it's painful. It's embarrassing. It is the fleeting, it feels horrible. But it's not permanent. It's absolutely corrected |
| 407 | 01:08:03,450 --> 01:08:14,910 | by certain things. And skill sets replacing bad habits. That's all. But it takes responsible discipline, and a routine and adhering to it. And being accountable |
| 408 | 01:08:14,910 --> 01:08:24,240 | to someone. Who is that someone you trust, say, Look, this is how I'm going to be doing my studies and my trading. And I just want to show you what I'm doing. |
| 409 | 01:08:24,690 --> 01:08:33,990 | And it's better if you're in a community. That is like minded. And that's what I try to foster, I try to create that. And unfortunately, what happens is, is |
| 410 | 01:08:33,990 --> 01:08:42,840 | people on the outside that usually take shots at me or you think this or that about about what I do when I teach all my students, they'll say it's a cult, |
| 411 | 01:08:43,890 --> 01:08:51,270 | when all I'm trying to do is empower that individual to be an independent thinker. I don't want you to believe me, or anything I'm saying I want you to go |
| 412 | 01:08:51,270 --> 01:09:02,100 | in, look at these markets with the lens I'm providing you. If I'm a fraud, and these don't work, you're gonna know right away. If you're really putting the |
| 413 | 01:09:02,100 --> 01:09:11,430 | effort in, you're going to know right away if these things are valid or not. But for those that have done the work, nobody's convincing them otherwise, now that |
| 414 | 01:09:11,430 --> 01:09:23,520 | it absolutely is the truth. And it's consistent. But when I say consistent, that's not the same thing as it happens every single day. In the same pair. If |
| 415 | 01:09:23,520 --> 01:09:30,960 | you look at like, for instance, if none of the things I'm teaching are existing in this pair right now. That's why my private group and none of you have seen |
| 416 | 01:09:30,960 --> 01:09:43,080 | anything with this pair for me for a long, long time. Because it's not showing clear, clean price action. So since it's not doing it, I take my hands off of it |
| 417 | 01:09:43,140 --> 01:09:51,450 | and my attention goes elsewhere, whereas it been diverted to index futures. index futures we'll have this type of price action soon. |
| 418 | 01:09:53,519 --> 01:10:04,979 | Does it mean that index futures trading is dead? No. Does it mean the algorithm has stopped work? No, it just means that it's been heavily manipulated. So what |
| 419 | 01:10:04,979 --> 01:10:13,049 | does that mean for you internally? Don't touch it. This is a rattlesnake. If you see a rattlesnake on a trail and you're walking down there, and you hear that, |
| 420 | 01:10:13,049 --> 01:10:23,999 | well I've never seen a rattlesnake live in front of me, okay? But I'm telling you what, I'd recognize it if it's not around. And I'm going to stand still. And |
| 421 | 01:10:23,999 --> 01:10:34,289 | I'm gonna look around and find it. And wherever it is, I'm backing away from it. Simple. Well, I treat these times in the marketplace just like that. Because |
| 422 | 01:10:34,319 --> 01:10:45,719 | there were times where I looked at this and said, I'm better than average bear. Oh, get in here and find the honey. out. There you go. I got stung. That's why |
| 423 | 01:10:45,719 --> 01:10:58,559 | I'm talking to you like this, folks. You gave me your time. You gave me your ear, and you give me your trust and giving you the best advice anybody could |
| 424 | 01:10:58,559 --> 01:11:15,029 | ever give you don't discount it as just talking, droning on pontification. No, this is real insight, folks, it's three decades of it, I lost a lot of money not |
| 425 | 01:11:15,029 --> 01:11:28,859 | doing what I'm teaching you to do, like I'm teaching you the very things that I fell victim to, and how to avoid it. When you want to do that, I mean, I, I |
| 426 | 01:11:28,859 --> 01:11:40,979 | would literally give everything I had back in 99, to if I had someone like I'm trying to be for all of you. I'm trying to be that person that has real world |
| 427 | 01:11:40,979 --> 01:11:51,839 | experience that knows what's going on, proves it. And I'm trying to show you lower your expectations on yourself. Don't try to be an Olympic trader, okay, |
| 428 | 01:11:51,869 --> 01:12:02,699 | you don't need to be an Olympic. Just be consistent. If you find a bread and butter setup once a week, you can do a lot with that. It just takes consistency. |
| 429 | 01:12:03,389 --> 01:12:10,919 | And money management, the money management does the heavy lifting. The hardest thing is finding something you're going to trust and stay with. And when it |
| 430 | 01:12:10,919 --> 01:12:21,479 | doesn't deliver, or when you can't find it in your market. It doesn't change it. It just means you stand still. That's it. And it's hard. It's real hard. Because |
| 431 | 01:12:21,959 --> 01:12:32,129 | what happens if you go two weeks without taking a tree? What's that going to do for your mindset? For some of you, it's going to drive me nuts. Others, it's |
| 432 | 01:12:32,129 --> 01:12:47,699 | gonna make you want to change the style of trading. And they're both wrong. The 30 years taught me that books didn't teach me that. Books talked about system |
| 433 | 01:12:47,699 --> 01:12:57,419 | hopping. But you don't really know that lesson until you blow accounts, do dozens of different trading styles and approaches that don't work. They have no |
| 434 | 01:12:57,419 --> 01:13:08,039 | sound logic in the marketplace, why it's doing this and doing that divergence indicator this harmonic that all those things are something that promotes the |
| 435 | 01:13:08,039 --> 01:13:18,779 | idea of a religious view on the marketplace. And not just timing, price. Time and price is not a religion. It's the truth that these markets deliver on. Look |
| 436 | 01:13:18,779 --> 01:13:30,899 | at the chart. What's what's at the bottom of chart time? What's on the vertical axis? Price? Why are you complicating it? You're saying I'm complicating it? Why |
| 437 | 01:13:30,899 --> 01:13:39,449 | are you you're adding triangles and shapes and all these things and moving averages and all this stuff on your chart? Instead of just looking at what these |
| 438 | 01:13:39,809 --> 01:13:51,359 | candlesticks are documenting? Where was it an hour ago? Where was it last Friday? Was it likely go today? Where is it likely to go by the end of the week? |
| 439 | 01:13:53,069 --> 01:14:00,839 | If you ask those questions every single time you sit in front of a chart, you'll have a pretty good idea of what it's likely to do. What happen every single time |
| 440 | 01:14:00,869 --> 01:14:11,609 | now. But by itself that right there was just mentioned to you. That was the first steps for me to stop looking at those books. Those books are going to tell |
| 441 | 01:14:11,609 --> 01:14:25,109 | you things that 90% of people that trade lose money on let's be let's be honest, folks, let's just call it like it is okay. All of those books, all of those |
| 442 | 01:14:25,139 --> 01:14:42,659 | teachers, all these YouTube channels, everybody out there is talking about the same things that result in the 90% blowout of live traders. So why are you |
| 443 | 01:14:42,659 --> 01:14:52,439 | holding on to that stuff with a death grip? No, no, no. It's gonna work for me. I did that same thing. And I lost |
| 444 | 01:14:53,430 --> 01:15:09,120 | blue accounts over and over again. crying tears weeping black cannot figure it out. Those things are in a 90% bracket of losing money. If you walk down the |
| 445 | 01:15:10,020 --> 01:15:24,270 | road, and you see these glasses of water free to drink, you walk over to you pick it up, you sniff it just doesn't feel right. And you take a step back and |
| 446 | 01:15:24,270 --> 01:15:33,750 | watch other people walk around and they usually take a drink. They start choking and drop dead right there. How many people do you need to see, pick up that |
| 447 | 01:15:33,750 --> 01:15:46,470 | glass, take a drink and drop dead before you realize it's probably not a good idea for you to have a swig. But unfortunately, marketing is what it is. Okay, |
| 448 | 01:15:46,500 --> 01:15:58,980 | there's always some clever little way gimmicks is what they are, of making it seem like there's this new twist on something old. Okay. And bad logic. No |
| 449 | 01:15:58,980 --> 01:16:09,870 | matter how much lipstick you put on, it is still bad logic. And you can't change that. So the idea is for you to find it in the price action, the things you're |
| 450 | 01:16:09,870 --> 01:16:20,460 | looking for on the chart, or in price action, they must appear clearly in price. And if it's not clear, if it's real muddy and just choppy like this, it's |
| 451 | 01:16:20,460 --> 01:16:27,720 | indicating to you that this is not a market, the smart money is going to sit down and say, Yeah, this we're going to operate today. It's heavily manipulated, |
| 452 | 01:16:27,720 --> 01:16:38,730 | it's not being allowed to trade freely, it's held. So if it's being held and manipulated, do you want to be in there? Because if you are doing that you're |
| 453 | 01:16:38,730 --> 01:16:55,710 | gambling. So don't do that. Alright, so we made it to the futures portion of this long winded video about nonsense, right? Alright. daily chart on the E Mini |
| 454 | 01:16:55,710 --> 01:17:03,840 | s&p. Alright, so we have the market trading down into a very, very deep discount. If you look at the range low here. Why am I not picking this one here? |
| 455 | 01:17:04,200 --> 01:17:12,840 | Because this move started. There. Okay, so I'm looking at this move. These are relatively equal lows, so I'm just going to move over to the most recent swing |
| 456 | 01:17:12,840 --> 01:17:20,220 | low. Why is this swing? Well, it will candle to the left, it has a higher low than this one. And it came on to the right of it has a higher low than that one. |
| 457 | 01:17:20,280 --> 01:17:31,890 | So that's swing low. That one here to here. That's my daily dealing range. Okay, the market has recently retraced back down in about 50% equilibrium of that |
| 458 | 01:17:31,890 --> 01:17:42,690 | price move. Okay, so that's what we're annotating here about pathways are really a sense of it's being shown. And also, because of that, the market is likely to |
| 459 | 01:17:42,990 --> 01:17:52,320 | create a little bit of a retracement. Now on this video, I did a teaching called purge and revert. Okay, and I'm going to talk a little bit about that tonight |
| 460 | 01:17:52,320 --> 01:18:03,930 | and how it's a little somewhat of a variation on that idea and premise. But I want you to think about how the market created this. Low here. And then the |
| 461 | 01:18:03,930 --> 01:18:15,210 | reaction and price delivery on this day, here on the 19th. And on Monday night, I was mentioning to my private group. And you all know I mentioned this, I'm |
| 462 | 01:18:15,210 --> 01:18:26,250 | actually going to put a clip from Monday's video in here. So that way the folks that were not in that group, they will have the the the insights that was |
| 463 | 01:18:26,280 --> 01:18:33,630 | mentioned there, that way you can see what I'm showing you here is not pointing to something that after the fact I wanted you to both communities that |
| 464 | 01:18:33,660 --> 01:18:41,970 | appreciate what I'm teaching, not to beat the chest not to show off not to sound smart. Okay, but I want you to understand what I'm showing you here is rooted on |
| 465 | 01:18:41,970 --> 01:18:51,840 | sound logic, it's not chance it's not gambling. So because this daily chart has retraced down into about half of the move from that low that high. So we |
| 466 | 01:18:51,840 --> 01:19:02,370 | basically went back to equilibrium or roughly a short term, what discount so because of that, there's a likelihood that the daily bias is going to be bullish |
| 467 | 01:19:03,750 --> 01:19:15,090 | on this day here, and this here. Now, we're going to look at this candle because midpoint of this candle, that right there is the mean threshold mean threshold |
| 468 | 01:19:15,090 --> 01:19:27,030 | is the half point, okay? Or median of a order block. That's what this line here is representing. Okay, so when I dropped down into the hourly and lower |
| 469 | 01:19:27,030 --> 01:19:37,050 | timeframe, that right there is routed on this up close candle, why am I using the up close candle? Because from this high down into the 50% retracement of |
| 470 | 01:19:37,050 --> 01:19:47,040 | that low and high or the market goes back to equilibrium or short term discount. That means the bias has a likelihood Now folks, listen, you want to be taught |
| 471 | 01:19:47,040 --> 01:20:00,660 | about bias on teaching. Listen, we're down to equilibrium or short term discount the next day we can expect it to go higher. So what What do we do with that |
| 472 | 01:20:00,660 --> 01:20:08,880 | information? If it's likely to go higher the next day or the day after that, what happens if the next day is down, or whether it doesn't move? Okay, you go |
| 473 | 01:20:08,880 --> 01:20:19,410 | into the next day expecting it to go higher. That's it. That's all you're doing. It's not hard, right? But you want perfect. You want your recipe for those |
| 474 | 01:20:19,590 --> 01:20:27,450 | chocolate chip cookies to come out like grandma's. And sometimes guess what, it isn't going to be like that. You kind of have to take it the way it gives it to |
| 475 | 01:20:27,450 --> 01:20:38,670 | you. And sometimes your cookie ain't gonna rise. This is just so happens that what I outlined on Monday, panned out, but that's what I'm referring to every |
| 476 | 01:20:38,670 --> 01:20:50,640 | single week, I'm outlining something that because of the logic, that's that one good setup that you should be focusing on as my students. What am I going to |
| 477 | 01:20:50,640 --> 01:21:01,020 | show you here in this? This is your premium array. That means it's going to draw up into that it can be this candle as well, because it's the order block bearish |
| 478 | 01:21:01,020 --> 01:21:11,160 | order block. Why should I be concerned about this candle, because in this move here, right before this displacement, on the downside, this was the last up |
| 479 | 01:21:11,160 --> 01:21:22,560 | close candle. So you have several targets, here you have the candle low, the open, the mean threshold, have a water block, and you have the high, the |
| 480 | 01:21:22,560 --> 01:21:33,060 | highest, the less likely the easiest is one down here. So on this candle here, when we expect a little higher, we can see it trade up into that candle as well. |
| 481 | 01:21:33,630 --> 01:21:42,900 | We can see it straight up into that candles body, we can see it straight up into that candles mean threshold. So it's not a matter of me picking levels and |
| 482 | 01:21:42,900 --> 01:21:51,510 | saying look how smart I am. Look at hit that level. But what about those other levels you didn't see. For those people that think like that, or if you ever |
| 483 | 01:21:51,510 --> 01:21:58,770 | hear that, or see people talk like that, here's what you respond to internally, don't even worry about them, because they're not interested in learning, all |
| 484 | 01:21:58,770 --> 01:22:11,370 | they're trying to do is be a distraction to you. I promise you, if you put the work in, you will see the results. You're looking for the lowest hanging fruit, |
| 485 | 01:22:11,400 --> 01:22:19,890 | which one's the easiest for you. If you look at that in respect to this candle here. So if you're buying on this day, if you're buying down here below the |
| 486 | 01:22:19,890 --> 01:22:29,490 | opening, which I'm going to teach in detail in this video, if you're buying down below the opening, not that I use this particular opening price, but let's say |
| 487 | 01:22:29,490 --> 01:22:38,430 | you did say you bought this specific day below the opening price on that candle right there. And you were buying below it, you could find profitability, |
| 488 | 01:22:38,910 --> 01:22:48,150 | reaching just up into that candles low, draw that out in time, you can use the body dial that in time here hits it. Well today not yesterday's training, |
| 489 | 01:22:48,150 --> 01:22:58,230 | because that was yesterday stream. And you have this here being hit there and he had the mean threshold, or the little black there. So there's several targets. |
| 490 | 01:22:58,920 --> 01:23:07,800 | Now for you as a developing student, you want to pick the easiest one, which is this one here. And be content if it hits that now blending that with the idea of |
| 491 | 01:23:07,800 --> 01:23:16,140 | purge and revert now purge and rebirth, you can do a YouTube search on that. It's in my YouTube channel. It's a teaching that I'm gonna allow you to go back |
| 492 | 01:23:16,140 --> 01:23:25,860 | and look at yourself. But it's kind of built on that same premise here, we went down, we took out short term low sell side liquidity, see that right below here. |
| 493 | 01:23:26,010 --> 01:23:38,850 | So we purged sell stops, and it's going to revert back to the high in the last three days. So a 123 That's this day here. So this candle is high, it can draw |
| 494 | 01:23:38,850 --> 01:23:47,040 | back into so we have Yes, this border block low. But then we have this idea here where the move dropping down |
| 495 | 01:23:48,960 --> 01:23:58,320 | that high is going to have what resting above it by stops, why went up by stops there. Because traders that are short, they're going to tell their stop loss |
| 496 | 01:23:58,320 --> 01:24:05,580 | right there. It's going to be more easily understood. We've gotten to lower timeframes, but just know that that's the framework I'm showing here. You're |
| 497 | 01:24:05,580 --> 01:24:15,660 | going to have to listen to this part of the video a few times. Don't be against that okay don't don't feel like I don't want to do that trust me put the time |
| 498 | 01:24:15,660 --> 01:24:24,960 | into listen to this portion of the video because this is exactly what nobody is teaching you because they don't know it. But this is what goes on. And it's also |
| 499 | 01:24:24,990 --> 01:24:34,620 | the reason why I told my private group on Monday night what took place yesterday. Alright, so we're dropping down to the hourly chart. And here is the |
| 500 | 01:24:34,650 --> 01:24:45,720 | E Mini s&p June contract. market trade down into that short term low ran out sell stops here or sell side liquidity so it purged that liquidity. Then we had |
| 501 | 01:24:45,720 --> 01:24:56,670 | all this sloppiness starting the week and then we drop down and rallied up. Doesn't look too clean and clear here does it? It's okay. It's about to change. |
| 502 | 01:24:56,790 --> 01:25:06,510 | We're gonna drop down the lower timeframe because we have a bias I mentioned on Monday that I felt that this was going to go higher and clear up all this here. |
| 503 | 01:25:07,080 --> 01:25:14,160 | And that was the draw on liquidity. Now, here's that part of the video I said, when we get into the discussion about live sessions, what am I going to be |
| 504 | 01:25:14,160 --> 01:25:22,980 | doing? Basically what I'm going to show you a clip of when I get to the 15 minute timeframe, I'm going to show you the clip from Monday night's private |
| 505 | 01:25:22,980 --> 01:25:32,430 | mentorship video where I discuss before it happened, where the E Mini s&p was likely to go, why I felt it was likely to happen. And I'm going to amplify that |
| 506 | 01:25:32,430 --> 01:25:43,200 | here so that we both communities can appreciate what it is that I'm going to be doing with intraday price action. The guys over and Goldman Sachs in you been |
| 507 | 01:25:43,200 --> 01:25:50,370 | with me for a while you know who I'm talking about? They like to say that intraday is just noise. And one of those guys actually said he tried very hard |
| 508 | 01:25:50,370 --> 01:25:57,360 | to make it work. And if anybody tells you to intraday trading is profitable, and you can do it consistently run away from them, because they're a con artist. |
| 509 | 01:25:57,420 --> 01:26:08,670 | Okay. It's kind of funny that, you know, I'm proving technical science, okay, because it exists. It repeats, but you have to know what you're looking for. |
| 510 | 01:26:08,940 --> 01:26:19,500 | Okay. And I'm going to show you that here. I mentioned the opening price on the midnight candle, and I mentioned opening price at 830. And there's a lot of |
| 511 | 01:26:19,500 --> 01:26:25,680 | confusion as to what that means. And what am I supposed to be doing with that information? I'm gonna cover that in this video, too. But I want you to look at |
| 512 | 01:26:25,680 --> 01:26:39,300 | this hourly chart. And just see this movement here to hear see that? You don't have any reference points inside the hourly chart here. That's okay. I'm going |
| 513 | 01:26:39,300 --> 01:26:51,030 | to show it to you in amplification to what I was showing my group on Monday night before it happened. Do you see how level these two highs are here? See |
| 514 | 01:26:51,030 --> 01:27:04,800 | that. This is what I dub relative equal highs. That right there engineers by stops. For anyone that chases this going lower? They're going to think that this |
| 515 | 01:27:04,800 --> 01:27:14,460 | is the area where resistance is. So their stock will be placed above that, does it take rocket science to understand that no. Every book tells every trader that |
| 516 | 01:27:14,460 --> 01:27:24,720 | reads the book that stops get above the old high. And this is resistance because it went here, stop went lower. It tried one more time here and then went lower. |
| 517 | 01:27:24,870 --> 01:27:36,480 | So this is strong resistance. Now, granted, I'm not trying to make a case, the hourly timeframe is strong, okay. But there's a lot of people that trade in |
| 518 | 01:27:36,480 --> 01:27:38,940 | these lower timeframes, and they'll see that as what, |
| 519 | 01:27:40,260 --> 01:27:48,330 | formidable resistance. So don't feel that this is safe, the market should keep going lower, they work this low. So that means it's going to keep going lower. |
| 520 | 01:27:48,390 --> 01:27:56,250 | And when price starts going sideways like this slightly up, it's going to look like what to them. It's a bear flag. So we're gonna look at this high and that |
| 521 | 01:27:56,250 --> 01:28:06,300 | low and project that same movement lower as a measured move in this type of thing happens. Because they didn't use the context that I'm providing you both |
| 522 | 01:28:06,300 --> 01:28:15,090 | communities, understanding how the markets moved from discount their premium premium to discount. That's it. And then what ped arrays within the current |
| 523 | 01:28:15,090 --> 01:28:28,260 | market structure? And what narrative. So what is narrative? What is that? Well, we have the market trading down into that short term low, below old lows, about |
| 524 | 01:28:28,290 --> 01:28:39,600 | 80% of its daily range that I mentioned on the daily timeframe. So we purged the sell stops, where's it going to go higher? Why it needs to go to buy side, |
| 525 | 01:28:39,870 --> 01:28:49,980 | because it's now collected sell stops. So smart money is going to do what offset those buy orders that they use the pair out with the sell stops below these |
| 526 | 01:28:49,980 --> 01:28:59,250 | lows, they bought themselves out. So now their net long, how do they get out? They have to sell them to willing buyers. But at this point down here and over |
| 527 | 01:28:59,250 --> 01:29:09,720 | here, who's gonna be buying from them at a higher price? The bad stuffs at resting here. So you have to think algorithmically, how do you pair your orders? |
| 528 | 01:29:10,560 --> 01:29:20,850 | If you don't have this mindset going in before you click the Enter button of your trade, you are gambling. You have no idea what you're doing. You're trying |
| 529 | 01:29:20,850 --> 01:29:30,510 | to guess you're near seeing what would happen if I did this. And when it works, you're telling yourself wow, if I did that with real money, I could quit my job |
| 530 | 01:29:30,510 --> 01:29:41,430 | in three months wrong. And when it's bad you're thinking of I wouldn't have took that trade anyway. I'm really cool and astute. I'm an apt pupil of price action. |
| 531 | 01:29:42,030 --> 01:29:52,620 | Now. You're a gambler. You're dabbling with a demo account, and you're not learning anything. You're conditioning yourself to believe that these sensations |
| 532 | 01:29:52,620 --> 01:30:03,660 | that you feel when it's right. It's skill. And when it's not. Well that was just You just playing around You weren't really doing anything serious about it. And |
| 533 | 01:30:03,660 --> 01:30:14,820 | that creates toxic thinking. And it builds a false sense of security. And in certain instances, some individuals literally go out and say, Well, I'm going to |
| 534 | 01:30:14,820 --> 01:30:23,040 | put live money in here. Because, you know, I got lucky a couple of times, and I could afford to, you know, a couple $1,000. And I could do this, and I can do |
| 535 | 01:30:23,040 --> 01:30:31,860 | that. But if I mean that, and that's what, that's what everybody does, they fall victim to that. I don't want you doing that, you have to have a real reason why |
| 536 | 01:30:31,860 --> 01:30:42,810 | you're doing something, even in demo. Otherwise, you're teaching yourself to think well, and properly about what it is that you're trying to do in these |
| 537 | 01:30:42,810 --> 01:30:55,260 | marketplaces. So the logic is, we're looking for the runnable here. And now think about that, in this area here. Here's the 19th. On Tuesday, I told the |
| 538 | 01:30:55,260 --> 01:31:03,810 | group that it was likely to go to here. And I'll show you that clip and drop into 50 minute time frame. But don't think about what does your daily candle |
| 539 | 01:31:03,810 --> 01:31:14,220 | look like if it's going to likely go up to here, and we're down here, it's going to create what a little bit of a movement down, make the low today, then rally |
| 540 | 01:31:14,220 --> 01:31:22,470 | up the clean that live well. And we're not trying to predict the closing price on the daily candle, we're not trying to do that. We're trying to participate in |
| 541 | 01:31:22,470 --> 01:31:32,910 | a move in the morning session, that gets us long, that allows us to run up into this area here. And that would be your target, you're not trying to get the mood |
| 542 | 01:31:32,910 --> 01:31:40,680 | that goes all the way up to 4590. If it was to do something like that I'm not suggesting it is but I'm saying that you have to pick these periods of the |
| 543 | 01:31:40,680 --> 01:31:50,460 | marketplace where it makes sense for you to anticipate and expect a certain move to begin and originate in and where it ends or where it finds its terminus. So |
| 544 | 01:31:52,080 --> 01:32:11,220 | point of origin, terminus, buy orders on Smart Money. sell orders on Smart Money. Retail, buy orders, retail sell orders. That's the continuum that goes |
| 545 | 01:32:11,220 --> 01:32:23,070 | between smart money and retail. You have to change your thought process about what you're looking at in the charts in that is narrative. Looking for the daily |
| 546 | 01:32:23,070 --> 01:32:36,090 | delivery on that candle, Judas swing by the looping price, expect displacement to the upside run into liquidity, offset, sell to buyers, move to the sidelines, |
| 547 | 01:32:36,120 --> 01:32:39,570 | you're done. Now, what does that look like? On a lower timeframe? |
| 548 | 01:32:41,820 --> 01:32:53,820 | Here's a pretty minute timeframe. Here is the relative equalized, Basa liquidity resting there. Look at this price action here. What do you say? Pause the video. |
| 549 | 01:32:53,820 --> 01:32:55,440 | This is that moment where you want to study and look |
| 550 | 01:32:55,440 --> 01:33:11,190 | at it. Okay, I'm gonna continue now. Alright, so here we have this low. Why am I picking that low? Why not that low? Michael, why didn't you pick this low |
| 551 | 01:33:11,190 --> 01:33:21,840 | Michael. This here is a range that we worked in. And I mentioned this as brutal when I was discussing it with my students on Monday and it's commentary. But |
| 552 | 01:33:21,840 --> 01:33:29,010 | this movement here, this is the most recent swing low it rallied up and it created higher high rate about these relative equal highs. So they're at point |
| 553 | 01:33:29,010 --> 01:33:40,200 | one to point to that you're dealing range. Okay, I'm using that because it's the most energetic most recent, low and high. This is where I think the markets |
| 554 | 01:33:40,200 --> 01:33:53,130 | gonna go up to because I think all of this movement now here basically is accumulated all the sell stops. So now smart money is heavily net long. And they |
| 555 | 01:33:53,160 --> 01:34:06,960 | are sitting on all these new counterparty traders that either were knocked out in the marketplace and he absorbed all of their cell stops. Or they're caught |
| 556 | 01:34:06,960 --> 01:34:15,450 | offside and retails trying to go lower. It doesn't make a difference. I'm not suggesting that you should even waste any time trying to figure out what that |
| 557 | 01:34:15,450 --> 01:34:25,740 | is. I'm just saying that below lows sell stocks below old highs buy stocks. Just have it in mind. It's that simple. Now, knowing that by itself is not enough you |
| 558 | 01:34:25,740 --> 01:34:36,660 | need to know what is likely to occur. Here is the midnight candle in New York. Okay, how do you know that they're working on trading view click this little |
| 559 | 01:34:36,660 --> 01:34:44,670 | area here it'll pop up a list of time zones and such scroll to New York always put your trading view chart on New York I don't care where you live. You do |
| 560 | 01:34:44,670 --> 01:34:54,930 | that. Everything I'm teaching you will line up. Midnight opening price the opening prices here. draw that out in time and that's your New York midnight |
| 561 | 01:34:54,960 --> 01:35:06,210 | opening price. This is the price I want to preferably the buying below Now there are instances where the opening price will be lower. And then the market is |
| 562 | 01:35:06,210 --> 01:35:16,230 | trading higher but doesn't go back below the midnight opening price. This is why I said 830 opening price 830 is when a news embargo lifts. And a lot of news |
| 563 | 01:35:16,230 --> 01:35:25,710 | comes in around 830, typically. And I use that opening price there. Now, in this instance, this is why I'm teaching it to both groups today, because this is kind |
| 564 | 01:35:25,710 --> 01:35:34,950 | of like a, just a dandy of a setup means it's really good. I like these types of setup. So I'm going to show you here, when it delivers something like this, it's |
| 565 | 01:35:34,950 --> 01:35:44,760 | almost like it's presenting it to you on a silver platter. Like if you really, really want a good little setup that's going to just just be a real nice cracker |
| 566 | 01:35:44,760 --> 01:35:54,840 | jacket is delivered nicely. It's this one here, okay, if we're bullish, okay, and I'm assuming that you'll trust me when I show you the video clip from my |
| 567 | 01:35:54,840 --> 01:36:03,570 | private mentorship group, folks that are in my private mentorship group. If I'm sharing something that it was edited, if I've changed that video in any way to |
| 568 | 01:36:03,570 --> 01:36:12,570 | make it seem or sound like something that really didn't take place on Monday at the 30 minute mark of that video, please say so in the comment section. Okay, |
| 569 | 01:36:12,720 --> 01:36:20,250 | you're welcome to roast me, okay. I'm only telling you that because the comment sections open on my videos, you guys can say whatever you want to say I don't |
| 570 | 01:36:20,250 --> 01:36:30,900 | care. Bottom line is has proven it. Okay, and proven it that way you can feel comfortable learning from me. There's no sales pitch here anymore. Just put down |
| 571 | 01:36:30,900 --> 01:36:39,780 | all your reservations and just grab a pen and pad. And listen. And I promise you what you're looking for, it'll come the confusion that you're getting about the |
| 572 | 01:36:39,780 --> 01:36:54,330 | opening prices at midnight in the opening prices at New York 8:30am. Last ditch for power three is 830. What does that mean? If the opening price at midnight, |
| 573 | 01:36:54,660 --> 01:37:08,820 | if you're bullish is lower than price is trading at around 830 or after 830, then it's likely it's not going to be a factor. Then you use 830. If there is a |
| 574 | 01:37:08,820 --> 01:37:18,270 | day like this one here, where we have the opening price at midnight, here, we're already below it. And then after 830 we're below it again, still below them in |
| 575 | 01:37:18,270 --> 01:37:28,230 | like candles, opening price. We're really in a discount. Like we're really, really cheap. On the day, when we're bullish. Think about what I've outlined so |
| 576 | 01:37:28,230 --> 01:37:28,530 | far. |
| 577 | 01:37:30,360 --> 01:37:39,840 | It seems like a long way here. But everything I've discussed is paramount and crucial for you to understand why this is occurring. Because these are the |
| 578 | 01:37:39,840 --> 01:37:50,400 | things they're going to repeat. Don't take my word for it. Start back testing, logging your charts like this. And you will see these events repeating because |
| 579 | 01:37:50,400 --> 01:38:01,530 | it's algorithmic, it will not do it every single day. But every day, it will be present in something. That's why I say that's my motto. It's every week, every |
| 580 | 01:38:01,530 --> 01:38:11,550 | day, and it won't stop. It does not mean every week every day and it won't stop every single individual market. Because you have to be able to navigate some |
| 581 | 01:38:11,550 --> 01:38:23,370 | days, it may not happen in the futures. It might be in forex, or it might be in bonds. So you have to be flexible in that regard. Okay, but every single week, |
| 582 | 01:38:23,370 --> 01:38:34,380 | there's this type of setup, every single week, there's a setup like this. Inside this range, it moves from here to here, and then saga retracing down after |
| 583 | 01:38:34,380 --> 01:38:44,160 | midnight, and that is that. So all of this, here's that Judas swing, your swing is the move that's opposite to what you expect the daily range to be. So if |
| 584 | 01:38:44,160 --> 01:38:54,870 | we're bullish, and we think it's going up here, we like this movement going down. We love it. Now, you may not feel comfortable buying the London or |
| 585 | 01:38:54,870 --> 01:39:06,540 | overnight lows. That's fine. You don't need to wait for 830 If we dropped below 830 is opening price. And here's the here's the kicker. We're below the opening |
| 586 | 01:39:06,540 --> 01:39:18,030 | price at midnight too. We are really, really oversold. Does it take indicators to see that new? Did you require some kind of divergence? Nope. How about a |
| 587 | 01:39:18,030 --> 01:39:28,470 | Fibonacci? Nope. Easy, isn't it? visually see what's being shown here. Below the opening price, you want to be a buyer at midnight. By itself that's always the |
| 588 | 01:39:28,470 --> 01:39:39,480 | thing, the basis of what I'm trying to do each day. Then if we get 830 Candle opens below them in that candle, and then we have a move but below that. That |
| 589 | 01:39:39,480 --> 01:39:50,550 | move here also is like a micro Judas swing for the session of New York. This is a huge swing on the daily range or the daily candle. So this is basically |
| 590 | 01:39:50,550 --> 01:39:59,130 | building the low the daily candle. This is building low the New York session. Both are using the power three concept which is accumulation manipulation, |
| 591 | 01:39:59,130 --> 01:40:10,590 | distribution. So what we're saying is this movement below the opening price 830. And below the opening price at midnight, each move lower is the trap. It's the |
| 592 | 01:40:10,620 --> 01:40:22,020 | snare that catches traders thinking it's going down. We are looking for that move, we're looking for that drop down, not just any indiscriminate drop in |
| 593 | 01:40:22,020 --> 01:40:35,100 | price, we're looking for a very specific thing. Now I'm down into a five minute chart, same things I had on a 15 minute timeframe, I now have just showing and |
| 594 | 01:40:35,100 --> 01:40:43,800 | representing it on a five minute chart. I want to take a look at price study. Think about what you see in price action here. Pause the video |
| 595 | 01:40:51,180 --> 01:41:05,340 | if you're not ready, I'm about to begin. Where right there, see that fair value got right there. See these two down close candles. That's your order block |
| 596 | 01:41:05,430 --> 01:41:17,940 | that's bullish, your favorite, you got an 830, we have a drop down at 830. We're looking to the left and see where are our short term swing lows because we want |
| 597 | 01:41:17,940 --> 01:41:28,980 | to absorb, sell stops, because Smart Money will pair that with their buys. And we're looking for an imbalance preferably. And we just happen to have it also |
| 598 | 01:41:28,980 --> 01:41:39,000 | with an order block. So a lot of things happening here it comes down hits it, and then rallies 830 opening price, we've finally come back down into it find |
| 599 | 01:41:39,000 --> 01:41:52,080 | some support, and springs progressively above the short term highs by itself that retails enough. That's a That's a beautiful run on s&p, and that will be |
| 600 | 01:41:52,110 --> 01:42:02,310 | enough. You don't need to have the objective up here. But if you're holding it for the daily range, you're going to wait for the reach up in here. And it does |
| 601 | 01:42:02,310 --> 01:42:10,740 | so here. Now in this area who knows what happens it rallies up and consolidates during lunch in around the two o'clock hour going to three o'clock we run back |
| 602 | 01:42:10,740 --> 01:42:20,700 | down into cell stops traders to have trailed their stop loss up because they don't want to lose any their profits. And then they pump it one more time up |
| 603 | 01:42:20,700 --> 01:42:32,970 | into the pm session or afternoon move into liquidity that was outlined relative equal highs on the 15 minute timeframe. Here is the one minute chart. How can |
| 604 | 01:42:32,970 --> 01:42:45,990 | you apply what I've been teaching you on the YouTube model? Well, here it is. Here is the low performing. And now find the setup that would occur with the to |
| 605 | 01:42:45,990 --> 01:42:55,380 | model so much we're seeing a movement here. The bias is bullish. We're looking for continuation on the upside. We have a target based on that 15 minute time |
| 606 | 01:42:55,380 --> 01:43:08,790 | frame relative equal highs. What does the model I'm teaching on YouTube? Where does that exist here? Again, pause the video. Use this moment to really look for |
| 607 | 01:43:08,790 --> 01:43:12,750 | it yourself. If you just wait for me to show it to you. You waste the opportunity on learning |
| 608 | 01:43:18,510 --> 01:43:31,590 | alright, don't be upset if you don't get it. It's okay. But I'm gonna show you now what you should be seeing. Okay, the market has a run above this short term |
| 609 | 01:43:31,590 --> 01:43:41,880 | high. So we have a shift in market structure that's bullish. What's this fear of a gap? It trades down into it hammers it three because I can then close candles. |
| 610 | 01:43:41,880 --> 01:43:52,320 | That's what your order block all consecutive because we're looking at one minute candles. That is the order block with a fair value gap. Buy it there and then |
| 611 | 01:43:52,320 --> 01:44:02,970 | comes back down. retests sends it higher. And and one more time, New York, Midnight candle opening price. opportunity again, trades up entity in New York. |
| 612 | 01:44:03,210 --> 01:44:14,550 | Midnight opening candle trades back into another gap trades into the midpoint of that rallies up consolidates and expands up into our objective that was outlined |
| 613 | 01:44:14,550 --> 01:44:31,200 | in that 15 minute timeframe, the relative equal highs. Now let's dig a little bit deeper. Notice the price low here. It's around what is that 4370 Something |
| 614 | 01:44:31,860 --> 01:44:45,420 | 76 or something like that. We'll just for the sake of clarity, we'll just say 4377. Okay. 4377 is around here on this day. Now what I've shown is the daily |
| 615 | 01:44:45,420 --> 01:44:55,860 | chart but on an open high low close bar, not a candlestick because I want you to graphically see what's occurring here. Now this opening price is not the |
| 616 | 01:44:55,860 --> 01:45:09,840 | midnight candle opening price. As you can see, it's about what is it 44 04 and a half or something like that, that would be just above where this opening price |
| 617 | 01:45:09,840 --> 01:45:19,260 | is. So my opening price is just a little bit above this opening price. So I'm not using the opening price on the daily chart on TradingView. You can, there's |
| 618 | 01:45:19,260 --> 01:45:28,170 | nothing really inherently wrong about that. But I don't personally do that. So that way, for clarity and continuity, I don't use the opening price on the daily |
| 619 | 01:45:28,170 --> 01:45:38,190 | candle, I physically go into my chart and use the opening price at midnight, once that candle begins trading at midnight, that's your opening candle price |
| 620 | 01:45:38,190 --> 01:45:50,160 | before midnight. And same thing for a 30. Soon as a 30 starts that opening price on candle. That's my opening price 830. So I had to wait till 830 This candle, |
| 621 | 01:45:50,460 --> 01:46:02,070 | or 830 exactly the time, right when it happens. That's my opening price. I'm not referring to any opening or closing price on the candle. Okay, what I'm |
| 622 | 01:46:02,070 --> 01:46:12,870 | forecasting with my analysis concepts and teaching my students is I'm teaching them to anticipate these types of moves. So the relative equal highs on a 50 |
| 623 | 01:46:12,870 --> 01:46:22,590 | minute timeframe is basically this candles high. Go back and look at your chart. And you'll see that's exactly what that is. So this short term run below this |
| 624 | 01:46:22,590 --> 01:46:34,020 | short term low is taking all the sell stops on that day on the 18th. The 18th. That evening, I was telling my students that that is when I anticipate that the |
| 625 | 01:46:34,080 --> 01:46:41,940 | s&p should go higher and run for those relative equal highs on the 15 minute timeframe. Because we've already went down into the discount and daily chart. |
| 626 | 01:46:42,360 --> 01:46:50,250 | And it's likely to come back up and grab that liquidity even if it's just going to keep going lower, that's still okay doesn't change anything. Even if it goes |
| 627 | 01:46:50,250 --> 01:46:59,340 | higher from here and unrolling it's reversing makes it longer term rally higher, I don't care. We're looking for surgical strikes intraday for these markets |
| 628 | 01:46:59,340 --> 01:47:12,480 | index futures, but there has to be some kind of logic. So if we look at what we've done over here, and how this fits daily candle, what I'm suggesting is my |
| 629 | 01:47:12,480 --> 01:47:21,060 | opening price, because at midnight are a little bit higher. And I don't need to catch that very, very short term low that's lower than this one. Okay, because |
| 630 | 01:47:21,060 --> 01:47:34,020 | that low is right here and one extra little bit lower than that. To the left. I don't need that. This is the reference point, which my methods would see as an |
| 631 | 01:47:34,020 --> 01:47:45,390 | entry point. So that's real close. That's like right in here, that's real close to the low the day. I don't need to have to load a day, you don't need to have |
| 632 | 01:47:45,390 --> 01:47:56,760 | the Lola day. But when you get to the New York session opening it equities 930 In the morning, New York time, this run in here, that sets it up. Now that |
| 633 | 01:47:56,760 --> 01:48:01,470 | opportunity here. So we have optimal trade entry here. If you want to trade it ot pattern I teach on the YouTube channel, |
| 634 | 01:48:02,550 --> 01:48:12,120 | then it rallies up. And then you're running all the way up to daily range. Until we get to this candles high here, which is the relative equal highs on the 15 |
| 635 | 01:48:12,120 --> 01:48:20,430 | minute timeframe. Go back into your charts and you'll see that okay, this is what back testing does, it gives you the logic. So what's occurring here is what |
| 636 | 01:48:21,030 --> 01:48:33,360 | it's purging, sell stops, and reverting back to the high in the last three days. Now, for some of you that need to hear me, and what I said in the video clip in |
| 637 | 01:48:33,360 --> 01:48:46,260 | my private group, I'll play that for you now. 15 minute timeframe, even s&p futures June contract 2022. Again, just brutal back and forth just |
| 638 | 01:48:46,260 --> 01:48:58,050 | consolidations. And there isn't really a whole lot in here that I like that it may want to reach for except for just the old relative equal highs. To me, it |
| 639 | 01:48:58,050 --> 01:49:08,610 | looks too perfect. It looks too pristine, to classic Support Resistance idea. Okay, so a lot of people want to sell short, they want to get short, they want |
| 640 | 01:49:08,610 --> 01:49:17,190 | to be bearish on this thing. And notice what's happening with all that. We're going to run higher, a broke, it breaks lower than the Senate one more time |
| 641 | 01:49:17,190 --> 01:49:28,890 | higher, clean up that drop at once more lower. And now to me, it looks like they're just going to send this thing vertical to clean that up. If it doesn't |
| 642 | 01:49:28,890 --> 01:49:38,040 | do that, and it starts to trade lower. I'm not chasing it. I'm not trying to follow suit. With that. I just want to give it more time to find out what it |
| 643 | 01:49:38,040 --> 01:49:45,270 | wants to do. Because to me right now, we're so deep in discount on the daily chart. It can come up to this level here and really not upset anything if it's |
| 644 | 01:49:45,270 --> 01:49:53,220 | going to continue going lower. That's my point in saying that. All right. So hopefully, I've covered a lot of stuff tonight. talked about a lot of things |
| 645 | 01:49:53,220 --> 01:50:04,470 | that students have asked me to touch on in my private group and I've obviously seen some of the comments referring to the opening price, what is the opening |
| 646 | 01:50:04,470 --> 01:50:12,450 | price? What is it? And why should I use it and how I differentiate the importance between the opening at midnight, New York, and that of the 830 candle |
| 647 | 01:50:12,480 --> 01:50:22,680 | in New York session. So hopefully, it's been a little bit more clear for you. But the main thing is, you're looking for an opportunity to anticipate the |
| 648 | 01:50:22,680 --> 01:50:31,950 | expansion of that daily candle in one direction or the other, either higher or lower. And in that direction, higher or lower, where's it likely to go. And the |
| 649 | 01:50:31,950 --> 01:50:41,040 | easiest thing I teach is old highs and all those in relative equal highs and relative equal lows. Those two ways of looking for pools of liquidity are the |
| 650 | 01:50:41,070 --> 01:50:53,100 | easiest, most visual representations of targeting. There is the it's simple, because it's based on sound logic that the algorithm will never be changed. |
| 651 | 01:50:53,520 --> 01:51:01,440 | Because of because old highs, right about that it's always going to be by side liquidity by stuff, they're going to rest above that. And below lows, their cell |
| 652 | 01:51:01,440 --> 01:51:09,900 | stops resting below that. It's always going to be that way, folks, it always will be that way. Don't send me comments in the videos, please don't send me |
| 653 | 01:51:09,900 --> 01:51:17,400 | emails, asking me that question. Do I think by me teaching is going to break it or they're going to change the route. They're not changing anything, they can't |
| 654 | 01:51:17,400 --> 01:51:29,250 | change it, because that's the way these markets book. That's the way it is, folks. It's the way it is the skies blue. Not all the time. But the sky is blue. |
| 655 | 01:51:29,940 --> 01:51:42,450 | The grass is green, not all the time. But the grass is green. You follow what I'm saying? So these are rules we live by. Sometimes, there's going to be these |
| 656 | 01:51:42,450 --> 01:51:53,760 | outliers, these things that creep in that cause your interpretation of price to be incorrect. And guess what that means? You did something wrong. Does that mean |
| 657 | 01:51:53,760 --> 01:52:00,420 | that you're a failed trader? No, it just means you made a mistake that you're human, I'm human, I'm going to make mistakes, I'm going to read it wrong, I'm |
| 658 | 01:52:00,420 --> 01:52:09,810 | going to interpret it wrong. I'm going to react too late, I'm going to react too soon, I'm going to anticipate things that are not likely to occur. And then |
| 659 | 01:52:09,840 --> 01:52:18,870 | either I have to take the loss or I reverse. These are all things that you're going to have to be met with in time. And you're going to have to see whether or |
| 660 | 01:52:18,870 --> 01:52:31,530 | not this is for you. And some of you, in all honesty, this isn't gonna be for you. Not mine stuff alone, but trading in general, because it's risky. And don't |
| 661 | 01:52:31,530 --> 01:52:41,850 | ever think that something magical is gonna happen if you're not consistently profitable in a demo account, and you're not consistently finding setups, |
| 662 | 01:52:41,850 --> 01:52:52,410 | executing them getting in and getting out with confidence. On the lowest of leverage. See, that's what I don't like about I know, some of you |
| 663 | 01:52:53,760 --> 01:53:07,020 | are. I don't know how you guys link. Like when you, I don't know how you guys link in the comments, people link me. But every time I link someone, either on |
| 664 | 01:53:07,020 --> 01:53:17,010 | putting their name in Roth, it never links it. So I never do that. But they will make videos. And I see it as a mention in YouTube. Sometimes it's a day or two |
| 665 | 01:53:17,010 --> 01:53:26,430 | late. So it's not like I'm ignoring you. But for whatever reason, I get these notifications that are Daisley. And I see folks that are doing videos and are |
| 666 | 01:53:26,430 --> 01:53:34,170 | recording themselves actually entering in the trades on the paper trading application on trading view, which is great. But they're using leverage that |
| 667 | 01:53:34,290 --> 01:53:45,360 | everybody knows that they are not really in a position to afford. So I know it feels cool, it feels flashy, and you know, it might feel like you're playing a |
| 668 | 01:53:45,360 --> 01:53:56,340 | video game. I don't want you to have that mindset, I want you to think about how you can make this as boring as possible. Because if you make it boring, you |
| 669 | 01:53:56,340 --> 01:54:05,820 | won't be a victim of your emotions. It'd be just like you go to work. I'm not saying you love going to your job. But you know, doing those things that you go |
| 670 | 01:54:05,820 --> 01:54:15,300 | to work to do yields you what that paycheck at the end of the week. That's your minimum expectation, get to work and do what's expected of you anything about |
| 671 | 01:54:15,300 --> 01:54:24,150 | that, then obviously, it's up to your manager to decide whether or not it's warranted to receive anything more than your standard pay. But you need to treat |
| 672 | 01:54:24,150 --> 01:54:36,030 | this just like that. It's a business. So when you're doing your executions Don't be influenced by trolls or hecklers in the comment section, saying, Oh, well, |
| 673 | 01:54:36,030 --> 01:54:47,670 | you know, you, you're doing micro lots, one micro lot. It's not about that size of leverage. It's about you finding the consistency of getting in knowing what |
| 674 | 01:54:47,670 --> 01:54:58,500 | you're looking for in terms of managing the risk in terms of the points or pips, not the money, not the money. The money is a derivative of doing the right |
| 675 | 01:54:58,500 --> 01:55:10,050 | things. In the beginning, you need to focus on doing the right things, the logic needs to be there, not the reaction emotionally and psychologically to fake demo |
| 676 | 01:55:10,050 --> 01:55:25,140 | money. Don't do that, you're actually causing yourself. Barriers, it really is creating a barrier for you to find success. If you do those things, it feels |
| 677 | 01:55:25,140 --> 01:55:35,460 | cool, it feels fun. Like, if I would have been a real trader, I could have made as much money, but you didn't. So let that be the reality you didn't. So you're |
| 678 | 01:55:35,640 --> 01:55:44,820 | really tricking in conditioning yourself improperly, which is the opposite of what I teach my students with back testing. Whereas I teach my students and when |
| 679 | 01:55:44,820 --> 01:55:55,590 | they do their back testing in their annotations, they write in there, as if they saw the trade happening beforehand. And by doing that, it's like self talk, |
| 680 | 01:55:55,650 --> 01:56:05,640 | you're speaking to your subconscious. And your subconscious is gonna refer back to that as a false memory. Because it's a positive reinforcement. It teaches you |
| 681 | 01:56:05,640 --> 01:56:14,640 | because of pattern recognition, and over and over again, being exposed to the same elements, and you're reinforcing yourself with your own comments and your |
| 682 | 01:56:14,640 --> 01:56:26,040 | own cheerleading. You're fortifying your expectations going forward on this pattern yielding something in the past, not that it's going to absolutely work |
| 683 | 01:56:26,040 --> 01:56:36,750 | in the future all the time. But we as price action traders, we look for signatures that repeat, nothing is guaranteed that's going to repeat. That's why |
| 684 | 01:56:36,750 --> 01:56:45,810 | we have to have stop loss that way, we know that there's risk in this market, every market in trading has risks. But if you're going to hone an edge or a |
| 685 | 01:56:45,810 --> 01:56:55,230 | model, you need to have a framework. And you start by back testing, and back testing. In your annotations. You talk about how it feels good to see this move, |
| 686 | 01:56:55,230 --> 01:57:02,850 | deliver as I'm expecting from this fear that you get up to this boss out liquidity pool during the hours of this and this, and this is what my model |
| 687 | 01:57:03,090 --> 01:57:13,050 | suggests I should be looking for each day. Notice I didn't say I was stupid, I was playing video games, and I was watching some YouTube or talking about some |
| 688 | 01:57:13,050 --> 01:57:19,740 | nonsense, and I missed the trade setup. I should have known better. Never do that kind of stuff, not in your back testing, not in anything that you're |
| 689 | 01:57:19,740 --> 01:57:31,140 | recording, you journal. Everything has to be positive. You're sugarcoating everything in your back testing, you're tricking your brain to see that as |
| 690 | 01:57:31,140 --> 01:57:42,240 | experience. So that way, when you see it forming live, you're not going to be in fear and trepidation of oh, it's going to be a painful experience. Again, when |
| 691 | 01:57:42,240 --> 01:57:51,480 | right now, you don't have the experience yet. But because you keep logging in with back testing, you're filling your brain up with a lot of pseudo memories. |
| 692 | 01:57:52,290 --> 01:57:56,280 | So you're doing the the ideal |
| 693 | 01:57:57,600 --> 01:58:09,210 | utilization of a lie. A this is called what it is, you're lying to yourself. And it shows your love this. You're lying to yourself with positive reinforcement. |
| 694 | 01:58:09,900 --> 01:58:20,550 | Okay. So that way, when you look at something forming in real time, it will be remembered, and you won't have any negative triggering. Because of toxic |
| 695 | 01:58:20,610 --> 01:58:27,780 | annotations for toxic thinking, you'll have memories of Oh, yeah, I remember seeing that and your subconscious, you may not see it or understand it or feel |
| 696 | 01:58:27,780 --> 01:58:39,060 | it when you're doing it. But your subconscious reverts back to those experiences that you've logged with positive reinforcement. Don't take a demo account. And |
| 697 | 01:58:39,060 --> 01:58:48,690 | do that same thing with I'm going to over leverage my demo account or paper trading account and do a size of leveraging that there's no way I would be able |
| 698 | 01:58:48,690 --> 01:58:57,060 | to number one put the trade on because I would be too scared, because I'm a new trader. And I'm going to be afraid of any fluctuation. And if I put on a million |
| 699 | 01:58:57,060 --> 01:59:06,540 | dollars with a leverage, I can't really sit through the spread opening up on me when I put the trade on initially, let alone whether the ups and downs and |
| 700 | 01:59:06,540 --> 01:59:18,180 | initially, you know as the trade pans out, you're teaching yourself to anticipate a hopeful outcome with ridiculous leverage. And you're teaching |
| 701 | 01:59:18,180 --> 01:59:29,670 | yourself that that negative drawdown that you're experiencing is not something to be worried about, because you're only looking for the dopamine hit. If you |
| 702 | 01:59:29,670 --> 01:59:40,710 | did it right. In that video game. High score means absolutely nothing in your growth. You've created a speed bump and sometimes a barrier to being |
| 703 | 01:59:40,710 --> 01:59:56,970 | consistently profitable. Think when you do those things, what you're saying is I'm putting blinders on. I don't really see the real risk here. Because it's |
| 704 | 01:59:56,970 --> 02:00:11,460 | paper money, and I want to show all my video I really high profitability, and the end result. Because you want cloud every single time. Every single time, I |
| 705 | 02:00:11,460 --> 02:00:19,770 | see one of my students, whether from the YouTube community or some of my mentorship students that are in programs that have YouTube channels, they'll |
| 706 | 02:00:19,770 --> 02:00:29,790 | make a video, and I'll use really high leverage. But they may have executed extremely well manage the whole thing from beginning to end. My comment |
| 707 | 02:00:29,790 --> 02:00:40,590 | consistently is, next time, even though I've commented and said, You well done on the other stuff, I will always tell them next time, use realistic leverage. |
| 708 | 02:00:40,950 --> 02:00:50,670 | That's my only criticism, not because of me trying to kick the legs out from underneath them, I'm not trying to steal their steam, or their drive or |
| 709 | 02:00:50,670 --> 02:01:02,490 | motivation, I'm being the best influence I can, because I don't want them filling their head up with things that are toxic, because that's, that's what |
| 710 | 02:01:02,490 --> 02:01:12,000 | that is. It's all about cloud, you don't want cloud, you want consistently profitable. Trust me, being consistently profitable, feels a whole lot better |
| 711 | 02:01:12,120 --> 02:01:19,350 | than cloud on the internet. I don't need everybody to love me and look at me, I've been here for a long time. And there's a lot of people that hate me for no |
| 712 | 02:01:19,350 --> 02:01:28,350 | justified reason. But the point is, none of that stuff cause me to lose any sleep. So don't invite those environments where other people can influence your |
| 713 | 02:01:29,550 --> 02:01:40,980 | performance, your expectations on yourself, your model, your trading, none of these jokers on the internet should have any influence on you. None. They don't |
| 714 | 02:01:40,980 --> 02:01:55,830 | have it on me. Why? Because I have rooted deep rooted sound logic and the things that I'm looking for. You all are experiencing that you're seeing it firsthand, |
| 715 | 02:01:55,830 --> 02:02:06,840 | you're seeing it. And it's encouraging. So don't make the mistakes of adding these little things, these flavor enhancers to your experience, okay, in calling |
| 716 | 02:02:06,840 --> 02:02:14,520 | them something that they're not because they're not going to make you better. They're going to actually hurt you. By over leveraging just because you want to |
| 717 | 02:02:14,520 --> 02:02:22,950 | see big numbers show up on your on your trade. Everybody watching knows that you put a demo trade on, everybody knows that you build a paper trade on? They know. |
| 718 | 02:02:23,610 --> 02:02:39,060 | So don't you parade around with it like it's a big deal. It's not. So the way you make it more respectful to your viewers, and also remove the element of |
| 719 | 02:02:39,060 --> 02:02:43,590 | cloud chasing. Use the smallest leverage, |
| 720 | 02:02:44,820 --> 02:02:54,480 | lead to people that want to heckle let them Heckle. You worry about being consistent. If you want to showcase your skill set, do the executions and use |
| 721 | 02:02:54,480 --> 02:03:04,350 | the lowest leverage possible. And let that be the example that you're showcasing? So I think I've gone through a whole laundry list of things that I'm |
| 722 | 02:03:04,350 --> 02:03:11,550 | supposed to cover tonight. And this is I know it's a very, very long video. I know it's probably long winded for some of you to like to see me get right to |
| 723 | 02:03:11,550 --> 02:03:22,830 | the point. But this whole thing was the point. And it really is a clinic on how to operate and engage the marketplace using what I'm teaching even with what I'm |
| 724 | 02:03:22,830 --> 02:03:36,810 | teaching in the YouTube model. And I'm just so thankful that the community has really received it. Well. The comment section is just the love fest and I |
| 725 | 02:03:36,810 --> 02:03:45,240 | absolutely love it. Please don't call me the goat I will ever heart your comment. If you do that. It's not that I'm ignoring you. I just never do that. |
| 726 | 02:03:45,660 --> 02:03:53,790 | Don't call me a king there that I don't like those things, either appreciation or the things that you've observed in your own development. I love reading |
| 727 | 02:03:53,790 --> 02:04:02,610 | those. Now, just thank you for all of your your support of the channel. I think it's wonderful. I think the community is growing. And I think it's just a |
| 728 | 02:04:02,610 --> 02:04:12,480 | healthy experience for all of us. And I'm finding a great deal of pleasure doing it, which is what I was hoping I'd get from it. So to our 28,000 followers, it's |
| 729 | 02:04:13,140 --> 02:04:22,290 | it's pretty crazy, like it's really growing fast. At this pace. I'll probably have a quarter million by the end of the year, which is really nuts. But thank |
| 730 | 02:04:22,290 --> 02:04:30,840 | you very much for your time. Hopefully you've got something from this one. And until I talk to you on Hopefully, tomorrow, I guess it will be morning. So I'll |
| 731 | 02:04:30,840 --> 02:04:35,820 | have another video up on YouTube tomorrow night around 10 o'clock, until I'll talk to you then. Be safe. |