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ICT YT - 2022-05-06 - ICT Mentorship 2022 Episode 24.srt

Last modified by Drunk Monkey on 2022-05-06 11:27
1 00:00:00,000 --> 00:00:18,870 ICT: Hey folks, welcome back. This is gonna be episode 24 of the continuing series of the free ICT mentorship, on YouTube for 2022. Alright, so I want to
2 00:00:19,050 --> 00:00:26,550 kind of like, sit you down for a minute, get your attention. Because if you don't have the proper mindset for this one, this could be taken out of context.
3 00:00:27,060 --> 00:00:38,880 And viewed in a light that is not really my aim. Okay? So I want you to think about why are you even watching these videos? Are you trying to learn? Are you
4 00:00:38,880 --> 00:00:48,240 just entertaining yourself? Or are you here to try to be disruptive, because if you're trying to be disruptive, I don't have any time for that. So I want you to
5 00:00:48,240 --> 00:00:57,420 understand what I'm going to show in this video. This is not going to be a repeating theme. I just want to let the foundation be laid here. If I see any
6 00:00:57,420 --> 00:01:11,310 comments that are either disrespectful, or just meant to stir up chaos and and create a ruckus. I'm just going to ban you from the town and your posts will
7 00:01:11,310 --> 00:01:20,580 appear. Okay. The comment section is open. You guys said I don't open the comments up. I've been opening them up, all the mentorship videos are open.
8 00:01:20,610 --> 00:01:32,280 Okay, I use your comments to steer the future direction of the lessons, I try to incorporate things that you may have asked or shown a concern about
9 00:01:32,430 --> 00:01:43,260 respectfully. If this is not for you, then obviously you can go watch Tom, Dick and Harry, good play in Market Replay. Okay, that's fine. But here, I'm teaching
10 00:01:43,260 --> 00:01:52,560 you things that actually work in the live markets, pulling some strings that didn't make you feel like you're learning something that is a gimmick, this is
11 00:01:52,560 --> 00:02:01,410 real market delivery. Those of you that are really sincere about learning, obviously, you have a lot of work ahead of you. And we are in the development
12 00:02:01,440 --> 00:02:11,640 stages early on in this mentorship. So that means you have to understand that this is the discovery, where you see this pattern, you're supposed to be going
13 00:02:11,640 --> 00:02:25,050 back through the data and your old charts, not trading, not even demo trading. Okay, you're looking for this pattern through back testing. Now, some of you
14 00:02:25,050 --> 00:02:36,030 have asked me to do a back testing episode, I will do a back testing episode, okay. But I want you to understand that you have to have the proper mindset
15 00:02:36,030 --> 00:02:47,490 here, you got to be responsible, you have to be attentive, and you have to listen. So the things I'm teaching the things I'm saying suggesting to you, you
16 00:02:47,490 --> 00:02:57,390 have to make them applicable to your own journey. You can't just watch and think, Okay, I've seen him do this a few times in a video, I understand it. So
17 00:02:57,780 --> 00:03:11,250 I'm gonna go out there and try to do it. So I want you to understand in light of that idea or direction that some of you want to take, just know that that's not
18 00:03:11,280 --> 00:03:24,300 the proper way of doing it. Okay. So some of you are unaware that this is the other part of the ICT experience. So when I'm communicating to community here,
19 00:03:25,080 --> 00:03:36,060 not only am I doing it in the comment section, very, very rarely. But also talk on the community posts. And if you go on the YouTube, go to my YouTube channel,
20 00:03:37,050 --> 00:03:49,320 and click on this little area here, you'll see kind of like my Twitter, like my update area, sometimes I'll prompt you to look at certain charts, or encourage
21 00:03:49,320 --> 00:04:01,380 you give you ideas to think about you know where you are in your journey. And then sometimes I'll share YouTube channel or a specific video. It's not meant
22 00:04:01,380 --> 00:04:08,970 for you to be able to talk to me here. But you can obviously say anything you want in the comment section. Just know that if it's something that's
23 00:04:08,970 --> 00:04:16,440 disrespectful, you can say whatever you want on your last post, okay, because I'll just make you invisible, you won't be here anymore. And you can keep
24 00:04:16,440 --> 00:04:23,100 creating accounts and I don't care. It just takes one little click of a button for me. You gotta go through the whole overcoming row of email addresses and all
25 00:04:23,100 --> 00:04:35,460 that business and I don't get tired of clicking, hitting bam, I don't get tired of doing it. It's really easy. In fact, it's fun. But this area here is the
26 00:04:35,460 --> 00:04:49,590 other segment of the mentorship. So with that in mind, I made this post a little while ago. And today's date is May 5 2022. And I know some of you try to remind
27 00:04:49,590 --> 00:04:59,250 me to make these posts with the date. And I just don't I don't remember it. So I'm used to doing Twitter and Twitter used to do a time and date stamp all the
28 00:04:59,250 --> 00:04:59,640 time.
29 00:05:01,590 --> 00:05:10,710 It's just I'm a creature of habit like anybody else I don't really think about when I'm doing it. But I made this post this morning. I said, Good morning
30 00:05:10,710 --> 00:05:23,760 constant reader. I know right? That FOMC was pretty neat, huh? Now try this one. Open your NASDAQ 15 minute chart and E Mini s&p 15 minute charts, drop a
31 00:05:23,760 --> 00:05:33,090 horizontal line across those Smooth Criminal highs in both index. I'll explain what that is in a moment. See how we dropped into a discount overnight study how
32 00:05:33,090 --> 00:05:43,770 they treat those relative equal highs today, and nonfarm payrolls Friday as you were so I'm encouraging all of you to open up your charts in interact, okay,
33 00:05:43,770 --> 00:05:52,680 because some of you just want to watch my videos. And that's it and think it's going to translate from just watching. Now you know how to do it? No, you got to
34 00:05:52,680 --> 00:06:01,170 get in and study it. So I prompted everyone to look at their chart, Mr. Khan, like what I was drawing your attention to. Now as one caveat here, that little
35 00:06:01,170 --> 00:06:13,980 blue arrow, that is me drawing this specific set, we know what we're talking about here where my attention was really drawn in on this. I'm watching this
36 00:06:14,040 --> 00:06:24,960 guy, that little bubble there, that little gap right there. I'm watching and I'm waiting for that to drop down at 930. That's that little Judas swing. Okay, I'm
37 00:06:24,960 --> 00:06:34,800 waiting for that Judas swing to happen where it drops down at 930. If it goes into that area there, and then it creates displacement, then it looks for a fair
38 00:06:34,800 --> 00:06:43,770 value got. And if it trades back down into a fair value get inside that displacement, then I can go wrong. And I'll look for a run ended at 43 03. Okay.
39 00:06:45,540 --> 00:06:58,560 I did not tell my mentorship. Last night that I wanted to do this very thing here. But if I was going to tell my mentorship, anything, this is what I would
40 00:06:58,560 --> 00:07:10,290 have said, Okay, I would like to see it drop down into that area, and then create the model that I'm teaching here on the YouTube channel. Now read what it
41 00:07:10,290 --> 00:07:30,390 says here, it says you are studying this. And I am watching this. Okay. Pray tell, does this in any manner whatsoever? Suggest in any manner at all, that any
42 00:07:30,390 --> 00:07:44,280 of you should be buying or selling this? No, it doesn't. For years, I've been asked to do live sessions, I've been asked to trade live in front of people.
43 00:07:44,460 --> 00:08:00,570 Okay. The number one reason why I have refrained from doing it is what we're going to talk about next. Because responsibility is lacking predominantly across
44 00:08:02,670 --> 00:08:15,930 all countries all age, and demographics. It's simply something that most people in trading, lack. Okay? Now, it's going to be very easy for me to sit in front
45 00:08:15,930 --> 00:08:23,700 of a chart and say, This is what I think is going to happen. I think it might go up to this level or go down to that level. That is not a trade idea. That's just
46 00:08:23,730 --> 00:08:34,290 bias. It's logic. That's the extent. That's the extent of what I'm going to do in the live sessions. The reason why I already said that in the beginning, and I
47 00:08:34,290 --> 00:08:42,840 didn't change gears because of what I'm going to talk about tonight. But it says important, okay, mindset is absolutely crucial. If you young guys and gals in
48 00:08:42,840 --> 00:08:54,240 here are already bored. Do yourself a favor, turn this video off, don't ever watch another video by me. Because you're going to cheat yourself from the
49 00:08:54,240 --> 00:09:07,500 absolute best prevention of ruin. If you continuously try to just watch my videos, pay intermittent attention. And then think you're going to glean any
50 00:09:07,530 --> 00:09:17,070 real understanding. Because this is highly technical. I have simplified it. And you're going to see two very simplified approaches to what I'm trying to teach
51 00:09:17,190 --> 00:09:27,270 so that we can get right to the point. But these are the parts that cause people that don't want to listen. They don't want to pay the attention to the things
52 00:09:27,270 --> 00:09:38,940 I'm teaching you. These are the parts that will hurt you if you don't understand it. Do you want to succeed? Because to succeed, you need this part. Not the
53 00:09:38,940 --> 00:09:49,320 little patterns, not the little things that can draw on a chart that stuff. That's the smallest part of it. How you think about yourself, what you're think
54 00:09:49,320 --> 00:09:50,400 you're capable of doing.
55 00:09:51,780 --> 00:10:02,340 And the management and observation and respect of risk is going to determine what your success is going to be I Wish I could grab you by your propels and
56 00:10:02,340 --> 00:10:13,500 just shake you and say, Listen, this is the part you need to learn. It's not full of Lamborghinis. It's not for protec, leap, watches and floss and in front
57 00:10:13,500 --> 00:10:25,740 of everybody. I talk to you this way. Because I genuinely care about your success. That's all, that's all I want you to be able to do is take this
58 00:10:25,740 --> 00:10:35,820 information, the logic, in do well with it. I'm not trying to bore you, or burn through minutes just for the sake of hearing myself talk, I want you to
59 00:10:35,820 --> 00:10:51,930 understand. And some of you simply don't want to listen. You have to be a critical thinker. I'm training you to be a critical thinker. I'm gonna give you
60 00:10:51,930 --> 00:11:07,440 two examples tonight of what critical thinking is not. Alright, this individual here, it was in the comment section, okay. And this is the poster child for why
61 00:11:07,470 --> 00:11:21,510 I do not sit in front of people and trade with entry stop targets, I don't do that. Because invariably, someone's going to take something I'm doing or saying,
62 00:11:21,810 --> 00:11:33,180 or applying to a chart, and they're going to do something with live funds. And they're going to come out and say, just lost the 1000. Thanks a lot. Now, I
63 00:11:33,180 --> 00:11:40,140 don't know who this person is, this person may not have actually taken a trade and lost money, this person may be a troll, this person may be a genuinely
64 00:11:40,140 --> 00:11:51,390 sincere individual. At this point, I don't care. But I want to highlight this is the very thing, folks, this is it. This is the thing that prevented me all these
65 00:11:51,390 --> 00:12:03,510 years to sit in front of all of you, and entertain you with trading. Because someone's going to do something. And when they do something by their own
66 00:12:03,510 --> 00:12:17,910 actions, and it's painful for them if they lose money, guess whose fault that is? Because it's not mine. It's the person that lost the money. Listen,
67 00:12:18,660 --> 00:12:29,880 everything I teach here, is under the guise of demo and paper trading. That's compliance. I don't give trade advice. I can talk about where the markets gonna
68 00:12:29,880 --> 00:12:39,990 go, I can give my opinion about that market opinions. That's not traded buddies. It's the same logic, the same idea in the same language that all of my paid
69 00:12:39,990 --> 00:12:49,980 mentorship students sign an agreement and they give me indemnity. They know the union, that everything I'm saying is under the pretense of demo, and paper
70 00:12:49,980 --> 00:12:58,830 trading, and you can't make money with demonstrating. But guess what you can't do either. You can't lose money either. So it gives you that freedom to think
71 00:12:58,830 --> 00:13:10,260 about what you're doing without the tug of war of making and losing money. Some of you in here are so high strung in so impatient that you just want to go out
72 00:13:10,260 --> 00:13:17,370 there and say, Okay, I'm gonna watch this video, I'm gonna get a hint from ICT. Like, I'm giving you some kind of secret language for a signal service. And I
73 00:13:17,370 --> 00:13:26,070 say this stuff to my own paid mentorship. I've said it for six years, every time there was a new group coming in the No, there is no new group coming in and
74 00:13:26,070 --> 00:13:31,860 stopped listening to these Yahoo's out there saying that I'm going to start a new mentorship and I'm going to sell I'm not selling no more mentorships folks,
75 00:13:32,310 --> 00:13:46,440 because of this kind of stuff. Okay, I'm not doing so whether this person lost $1,000? Or didn't, I don't care that right there is why I have prevented myself
76 00:13:47,280 --> 00:13:53,760 saying, No, I'm not going to do it. Because I know there's going to be a lot of you out here that are going to hurt yourself. Because you're not ready. None of
77 00:13:53,760 --> 00:14:01,620 you should be trading this model with live funds. We haven't even gotten through all of the content, or the process of what it is you're doing with it. Today,
78 00:14:01,620 --> 00:14:10,140 you're getting another piece of it. But this is the crucial part. This is the stuff, the boring stuff, the things that you don't want to listen to the things
79 00:14:10,140 --> 00:14:16,200 that you want to go through the people that want to come in here later on and saying, Here's a minute marker when he starts really teaching and you want to
80 00:14:16,260 --> 00:14:23,730 avoid the crap, I will delete your posts. If you do stuff like that. It's disrespectful. Not only me, but the other viewers because you're really taking
81 00:14:23,730 --> 00:14:32,940 their attention away from what is the real lesson. You're all entitled to your opinion. But if your opinion is disruptive or disrespectful, I won't let it
82 00:14:32,940 --> 00:14:44,070 post. Now you can disagree respectfully, and those posts stay on the comment section. But nonsense that's meant to start a ruckus, your channel will be
83 00:14:44,070 --> 00:14:44,640 blocked.
84 00:14:47,040 --> 00:14:56,670 Then you have folks like this, who cannot be taught. Now again, this could be a troll. This could be someone that didn't really take a trade today because
85 00:14:56,670 --> 00:15:05,400 really the logic as I'm going to prove tonight, really wasn't in the marketplace today for this model, and it can't be argued, there's no way you're going to be
86 00:15:05,400 --> 00:15:20,760 able to say that what I posted this morning is mine, but when any of the logic that this model uses. So, again, this person may have done something foolish. Or
87 00:15:20,760 --> 00:15:29,520 maybe they're just here to troll, that's fine. It doesn't matter. Because the posts that were made even after this, indicate that the person is really not
88 00:15:29,520 --> 00:15:37,740 properly prepared to learn how to do this and or really not interested in learning. So they're going to get removed, they may come back in another form,
89 00:15:38,100 --> 00:15:50,820 but any disrespectful comment will be removed. This statement right down here at the bottom highlighted, take accountability for your actions. If you're taking
90 00:15:50,820 --> 00:15:59,850 trades, number one, you got to take it, you got to take accountability for your actions. Those are your actions. I didn't reach to the screen, I didn't go to
91 00:15:59,850 --> 00:16:07,440 your house, I didn't go to your apartment, I didn't meet you at your job and press your cell phone to get you into a trade. In fact, I didn't tell anybody
92 00:16:07,440 --> 00:16:21,570 about a trade. I said study. Watch, I'm watching this. Okay. That is not indications that's not instructions to buy or sell anything. So don't get caught
93 00:16:21,570 --> 00:16:30,960 up in all this frenzy to be pushing any buttons yet, because none of you know what you're doing. All right, I appreciate your patience getting through that
94 00:16:30,960 --> 00:16:40,590 had to get it off my chest. And I promise I won't do it again. Because it's already been done here. Just know that if you act like those individuals, I
95 00:16:40,590 --> 00:16:52,140 won't see your posts. Right. So me, s&p We won't cover tonight. But it's kind of similar to what this is shown here. But the E Mini NASDAQ 100 futures June
96 00:16:52,140 --> 00:17:04,830 contract delivery month 2022. This is a daily chart. And I felt that this morning, we could have popped through stabbed above these relative equal highs
97 00:17:05,460 --> 00:17:15,180 right in here and then created this run lower. That's kind of like what else prompting study that because if it happens, you can see and study in that test
98 00:17:15,210 --> 00:17:25,170 now that the markets already moved, you can go back in and look and see if the model in fact did what I teach. Now, this is actually a good lesson because it
99 00:17:25,170 --> 00:17:37,170 shows where I'm looking for something to form. But it doesn't form, it doesn't create a losing trade, it doesn't get me into something that causes me to buy it
100 00:17:37,290 --> 00:17:51,000 when there really isn't an entry pattern there. This is the proof the evidence that the model has validity. So if you have a valid, reasonable sound logic
101 00:17:51,000 --> 00:18:02,550 behind a model, whatever model that is, then it should prevent you from taking bad trades. Not all the time. But sometimes when there is a really big move
102 00:18:02,580 --> 00:18:13,230 going the other direction that you don't see or expect. It may do its job and keep you from getting into those bad traits. And I'll show you the logic here
103 00:18:13,230 --> 00:18:23,850 today. I want you to be a critical thinker. Okay. Think about what I've already thought about this model. In the comment section below. If you think that this
104 00:18:23,850 --> 00:18:34,530 model appeared, based on what I showed in that community post, say so if you don't think that this model appeared, based on what I showed, then say so as
105 00:18:34,530 --> 00:18:45,390 well. Also, I'd appreciate if you would include in your post, where are you all from folks, like I want to get a kind of like a broad range view of how far I'm
106 00:18:45,390 --> 00:18:50,610 reaching. I know I got a lot of people in different countries, but I get this tell me what country you're from. You don't have to be specific with your
107 00:18:50,610 --> 00:18:59,940 address or security number. not that interested. But I would like to know, you know where everyone's from. But here's the logic with that one hour chart in
108 00:18:59,940 --> 00:19:11,820 that relative equal high. So this is the framework, I'm looking for a run above here, if it can get above that, then what it could wash out and go lower. Why
109 00:19:11,820 --> 00:19:19,830 would that be possible in terms of a pattern or a setup or the logic will be
110 00:19:21,990 --> 00:19:33,120 the catalyst for that? What was the reasoning for being interested in these relative equal highs? Number one, it's Thursday. It's Thursday, and it's ahead
111 00:19:33,120 --> 00:19:42,210 of Non Farm Payroll Friday. Now Non Farm Payroll Friday is usually a volatile day can be messy and you can be sloppy, sometimes it's just a really just a dud,
112 00:19:42,270 --> 00:19:51,660 it doesn't really do anything. Other days, it could be extremely volatile like the FOMC. But because FOMC has done what it's done. I don't think that the Non
113 00:19:51,660 --> 00:20:04,050 Farm Payroll numbers is going to have that much impact. But I was looking for these relative equal highs to be taken out, then dropped lower thing create the
114 00:20:04,050 --> 00:20:10,920 model that I'm teaching. So that's why it's kind of drawing your attention to them. So that way, if it did present that you can have something to study. Now,
115 00:20:11,400 --> 00:20:22,410 what's the catalyst that sets the run up into those relative equal highs? I'm going to talk about that now. Much like I was suggesting in that post, we had
116 00:20:22,410 --> 00:20:35,370 dropped down into a discount, I posted ahead of the 930 opening, where equities open up in that volatility, it comes around 930, I want to see some kind of a
117 00:20:35,370 --> 00:20:44,490 manipulation in price. So if our focus and I was trying to get your attention up here, if our focus is up there, and it's dropping down, and it's ahead of 930,
118 00:20:44,790 --> 00:20:54,150 what are we likely to see, drop down, get traders thinking it's going to go lower, and then rally up, not just go down indiscriminately and then go higher,
119 00:20:54,150 --> 00:21:02,550 it's got to do something specific. I'm interested in this area right here. That's what I posted in that community posts saying, I'm watching this and that
120 00:21:02,550 --> 00:21:13,920 was that little area here. For all of these videos that I've been posting, it's very specific on teaching fair value got that fair value gap is right there.
121 00:21:14,100 --> 00:21:23,880 Okay. So dropping down into that, that would be a point of interest for me so that I can go in and look for something that gives me my setup. So in other
122 00:21:23,880 --> 00:21:39,030 words, this here is just where the trade might form. Here, what I just said, where the trade might, it could, it may not, it's absolutely going to, this is a
123 00:21:39,030 --> 00:21:49,350 promise, there's no way this can fail. Because that logic doesn't exist in trading, except for over leverage. And over trade, you're gonna build your
124 00:21:49,350 --> 00:22:03,420 account, that's a guarantee. Okay. But that fair value gap, that's the place in terms of price, where should the pattern form, by itself, it's just price. But
125 00:22:03,420 --> 00:22:14,850 we have to incorporate what element first, algorithmically it's time. So I'm teaching you elements of time at 930. We're expecting some volatility, dropping
126 00:22:14,850 --> 00:22:26,010 down into that area here. Which at this point in the chart, it doesn't do yet. So I'm looking for it to drop down into that area. If it does, then I'm going to
127 00:22:26,010 --> 00:22:37,830 be looking for what I teach you in this model. So with that area shaded, right here, this is a 15 minute chart, you can see we traded down into it, the candle
128 00:22:37,830 --> 00:22:49,500 stopped right at the old candle high. And the next candle just gave up the ghost. Right away, we should notice that we did have the initial criteria, which
129 00:22:49,500 --> 00:23:00,600 is trading below an old low. So what's gonna be resting below that sell stops? So they go down, run out, there's a sell stops, traders are caught in then what?
130 00:23:00,630 --> 00:23:11,610 What's the next logic? We got to look for displacement? It's got to trade back above this old low. It's got to have displacement above that. Did it happen
131 00:23:11,610 --> 00:23:25,440 here? No. Here is a five minute chart. Now if you're looking at this, with that same low here, it trades down below it, did we get displacement above that old
132 00:23:25,440 --> 00:23:38,070 low? No, it just went down, consolidated return back to it. But melted, didn't do anything above that old low, there was no displacement, no energetic move. So
133 00:23:38,070 --> 00:23:48,000 that way, you can look for a fair value gap to trade back down into the buy. So anyone that would have looked at this and bought today is not using what I'm
134 00:23:48,000 --> 00:23:58,830 teaching, they're just impulsively pushing a button. And if they lost money, you have to fault yourself for that. I'm not the I'm not going to be the target for
135 00:23:58,830 --> 00:24:08,400 all of you that fail, don't listen and want to gamble. And when it doesn't work for you, because you took a guess you took a stab at it. You just wanted to see
136 00:24:08,400 --> 00:24:17,880 what was going to happen and you lose money. You can never do that with me. Even my paid mentorships those students they can't do any of that either. Because I
137 00:24:17,880 --> 00:24:22,440 never tell them to go into anything and buy or sell anything. Nothing.
138 00:24:23,910 --> 00:24:34,290 I'm not going to cosign your financial ruin, it ain't going to happen. None of this can be placed on me, the responsibility is solely on you, the viewer. And
139 00:24:34,290 --> 00:24:43,620 it's a lot of responsibility. And some of you simply are not gonna be able to do this. Not because it doesn't work. But because you are not responsible. You
140 00:24:43,620 --> 00:24:53,910 don't have any self control. You don't want to listen, you don't want to have any rules. And those roles, look at it like this folks. In the videos, I'll
141 00:24:53,910 --> 00:25:01,350 suggest folks hey, look, pause the video here, study it so that way you can really look for it before it's revealed there. A lot of people, they make jokes
142 00:25:01,350 --> 00:25:09,060 and say, I'm not going to pull, I'm not going to pause the video, I promise you, if they're sincere in their response saying that, I promise you, they will not
143 00:25:09,060 --> 00:25:20,670 learn this, okay? It will not happen. Because they're showing a, a trait that is simply not conducive for success in doing this business. So it doesn't work like
144 00:25:20,670 --> 00:25:32,430 that. It's not easy. It's not Netflix and chill. It's ICT and study your ass off. Okay? That's the way it is. And it takes a lot of logic that you have to
145 00:25:32,430 --> 00:25:40,980 adhere to, and you have to break yourself. There's a lot of things you're going to try to do impulsively. If you do them here, and it works for you and you make
146 00:25:40,980 --> 00:25:53,670 profits. You're going to be in here in the comment section. High five, me? Yeah, we're killing ICP style, when in fact, you just got lucky. Because then the next
147 00:25:53,670 --> 00:26:04,410 time you take another trade impulsively, you're gonna want to fault me. You're gonna say you weren't around. When I posted that comment. This morning, I spent
148 00:26:04,410 --> 00:26:11,820 the day with my wife, I haven't seen her for a week. And I'm not obligated to babysit anybody through a community post. I don't even do that with my
149 00:26:11,820 --> 00:26:23,160 mentorship that pay me. Okay. So, again, it's all about responsibility. And I'm placing the logic in your hands, it's up to you to go through the charts, see if
150 00:26:23,160 --> 00:26:32,880 it fits you. If it doesn't fit you, folks. There's a lot of other ways to trade. There's lots of ways to trade you don't need to trade my way. Okay. I'm biased,
151 00:26:32,910 --> 00:26:45,390 I believe mine is the best. I believe I can outperform anybody in any style of trading. And I can do it consistently. Will that translate to you? No. But I'm
152 00:26:45,420 --> 00:26:56,340 saying and promising that you're going to learn how to read price better than you ever imagined. It's worth the investigation, look into it, see if it doesn't
153 00:26:56,340 --> 00:27:09,390 hold up. But don't do things outside the rules I'm giving you. And that's why I teach this way, slow incremental pieces. because invariably, you're going to do
154 00:27:09,390 --> 00:27:18,780 things impulsively. If you lack self control, if you don't have self control, you're going to blow up in folks, listen, there's nothing worse than thinking
155 00:27:18,780 --> 00:27:31,560 you understand something in a rush, and then go out there and treat it like funds and blow the account. It hurts it painful, it sucks. And it's easy to say,
156 00:27:31,860 --> 00:27:42,000 oh, it's that guy that wasn't there to tell me what's really going on, you know, if you would have told me this or that I wouldn't have lost money now. Because
157 00:27:42,510 --> 00:27:50,940 I'm never putting any of my students in a position where they have to be hand held through a trade. They're putting yourself in that if they did it all. And
158 00:27:50,940 --> 00:28:00,450 they gotta get themselves out of it. That teaches responsibility. And you have to own those results, good or bad. They're yours. And that's why I tell
159 00:28:00,450 --> 00:28:08,310 everybody, when they find success in this, and they like to say, hey, it was it was all credit to you ICT. You know, without you, I couldn't have done this
160 00:28:08,310 --> 00:28:21,030 wrong. Wrong. The only thing I did was show you how to read price. I did not sit with you and push a button. So if you took on that risk, if you sat through the
161 00:28:21,030 --> 00:28:31,020 learning and work through all the back testing and studying and forward testing, demoing and producing a track record that you can feel confident in, then and
162 00:28:31,020 --> 00:28:38,250 only then with the time that you choose not when I say so because I never tell anybody true iPhones. In fact, right now, I'm reminded don't travel iPhones.
163 00:28:40,590 --> 00:28:53,730 When you make that decision Should you ever do so you've done it on your own accord. So if you make money, whose success really is that it's yours. And it's
164 00:28:53,730 --> 00:28:54,600 well deserved.
165 00:28:55,380 --> 00:29:08,850 Never, ever champion me for your success. Now you can thank me for helping you with the logic. But I didn't help you make money. And just this well, I did not
166 00:29:08,850 --> 00:29:19,980 help you lose it either. Those buttons getting pushed, you push them. And you have to sleep with yourself knowing that that's the results that you provided in
167 00:29:19,980 --> 00:29:31,170 there it is you live with it. And if it's a bad taste in your mouth, swallow, it's the way it is. It's bitter medicine, but it's good for you, you'll learn
168 00:29:31,170 --> 00:29:41,340 from it, or it'll take you to the business and that might be the best thing for you. If you can't stick to the rules, this game has a funny way of taking you
169 00:29:41,340 --> 00:29:54,720 right out of it. The people that are consistently profitable, it's not by luck, and they're not stupid. They have a logic they adhere to. They have rules that
170 00:29:54,720 --> 00:30:05,160 they trade with any have to stick to them when they deviate from them or do something out side of what that rule based strategy is, then it's reasonable to
171 00:30:05,160 --> 00:30:16,650 expect ruin, or loss. And those moments are most painful. Because you can look back and say, This is not what I should have done. That's what I shared that
172 00:30:16,650 --> 00:30:28,050 other guy corbs video about. I'm sure he has a strategy. But for whatever reason, from his commentary, he suggested that he just lost control of himself
173 00:30:28,050 --> 00:30:37,650 and started doing things that made no sense. Anybody that's ever traded with my funds knows exactly what that means. If anybody has ever traded why funds, they
174 00:30:37,650 --> 00:30:48,300 understand what that man was saying, I know I've done a lot in the 90s. I know exactly what he was talking about. But it feels like it's never going to work.
175 00:30:48,330 --> 00:30:58,260 And you just want to beat yourself up. You're gonna have losing trades, folks. Okay, in your journal right now, today, with today's date, make a promise to
176 00:30:58,260 --> 00:31:10,500 yourself, write it out, I promise that as long as I'm doing this, I'm going to endure losses. Notice I said indoor, you're not going to be defeated by those
177 00:31:10,500 --> 00:31:20,730 losses, you're just gonna have to endure them. Because trading is all about managing losing trades, you got to trade your way out of a losing trade every
178 00:31:20,730 --> 00:31:27,720 single time you get into market, every single trade. As soon as you start off, you're under the commission, you're under the spread in forex, you got to come
179 00:31:27,720 --> 00:31:43,410 out of that. Every trader is a losing trader that find success out of loss, or suffers ruin in it. That's it, that's the only two things that can happen.
180 00:31:46,980 --> 00:31:52,890 Alright, so now we'll talk a little bit about the model and give a little bit more details. And I'll probably feel like I beat you up and you're like, Man,
181 00:31:52,890 --> 00:32:03,780 this is depressing. This is not what I was hoping to hear. I promise it was good stuff for you. Okay. Now, I want to talk about where do these setups form? So in
182 00:32:03,780 --> 00:32:16,650 your journal, this is like a subtitle area for this video. Where do setups form? Okay, think about that for a minute. When you're looking for this idea that I'm
183 00:32:16,650 --> 00:32:25,110 sharing the fair value get where would you expect them to appear in price? Obviously, I've been teaching you the run above an old high or relatively equal
184 00:32:25,110 --> 00:32:36,930 highs. And if you're bearish, that would set up a scenario where the market goes up, sweeps the highs, breaks back down below the highs, short term lows taken
185 00:32:36,930 --> 00:32:45,750 out with displacement. And then you go back through that displacement leg looking for a fair ageia to short into. That's pretty simple logic, isn't it?
186 00:32:46,110 --> 00:32:55,680 Well, visually, I want you to understand it. Okay. So that like in your mind, I do this exercise all the time with my students. Can you draw out with a diagram,
187 00:32:55,710 --> 00:33:00,960 like if you were at work, and you're trying to explain to your friend or co worker, what it is you're looking for in price? Now they're not going to
188 00:33:00,960 --> 00:33:10,740 understand what you're doing? But how would you draw it out in price or in a napkin with a pen or pencil? What would it look like? But you have obviously a
189 00:33:10,740 --> 00:33:21,210 level of relatively equal highs. And we're just going to use that green line as an example of that. And prices moving towards it. Small little correction or so
190 00:33:21,870 --> 00:33:24,420 it runs towards it again.
191 00:33:26,160 --> 00:33:36,360 And it finally runs through those relatively equal highs, okay. At that moment, soon as it goes above it, you start painting back through all this price run in
192 00:33:36,360 --> 00:33:47,550 here and find the nearest short term low. Because that right there is going to be your trigger. It's not that it goes above this old, relative equal high, and
193 00:33:47,550 --> 00:33:58,410 then goes down below that that's not it, folks, that's not it. You have to see it go below that in displacement with energetic move, take out a short term low.
194 00:33:58,830 --> 00:34:11,070 That's how you filter out these trades that may not be high probability. So that area right there. As soon as you run about the relative equal highs in your mind
195 00:34:11,070 --> 00:34:21,150 you're looking for where's the trigger? Because until it takes out that short term low, there's nothing going on. There's no trade there. There's no setup
196 00:34:21,150 --> 00:34:31,500 there. Then when there's displacement, that displacement leg and price action, that right there is your foundation to the setup. That's it. Once you have that,
197 00:34:31,530 --> 00:34:42,120 then you can go into that area and look for the fair value go. That's the logic. That's the pattern. That's what you're looking for. This is if it's bearish.
198 00:34:42,210 --> 00:34:53,160 Now, if there's relative equal highs would have been traded through this morning. I would have expected this scenario. Okay. Before it ran those relative
199 00:34:53,160 --> 00:35:02,610 equal highs. I was looking for, like down here. Price was trading down into that year I was showing you my interest Then I'm watching this, where it was likely
200 00:35:02,610 --> 00:35:11,430 go down to this is kind of like the low in my mind, I'm coming to using it as an example, what I was expecting price to do once it got down into that fair value
201 00:35:11,430 --> 00:35:19,500 gap that I was saying, I'm watching this little arrow, okay, I showed that little gap, I was expecting this type of movement to set up the run above,
202 00:35:19,500 --> 00:35:30,990 there's relative equal highs, but there was no movement here to setup that run either. So two scenarios that I would have loved to seen, develop just did not
203 00:35:30,990 --> 00:35:41,460 pan out. It just simply wasn't there. Now, I'm going to teach you another approach. And this is kind of like what I was expecting. And had it panned out
204 00:35:41,460 --> 00:35:47,700 this morning, if it would have gave the real setup, which it did not, I've already shown that that little fair value, get those waiting to see your
205 00:35:47,700 --> 00:35:56,430 response in it didn't do it this melted right through it. But if it would have done this, but this is going to be the sell version, okay? Just reverse it for
206 00:35:56,430 --> 00:36:07,440 the going long idea. If you have an old fair value gap above you. Okay, so you have an old fair value gap and the markets below it, and it's trading up and
207 00:36:07,470 --> 00:36:15,870 you're bearish. But you think it's going to go up the fear of a gap, the same logic, when it trades up to the relative equal highs? Once it trades into the
208 00:36:15,870 --> 00:36:26,970 fair value gap? It doesn't have to completely close it. If it trades up into it, anywhere between here and here is good. Okay. If it trades above it, you can
209 00:36:26,970 --> 00:36:34,560 really make it simple and say okay, the lower the fair value got treat that like the same logic that you use for the relative equal highs? Doesn't it make it
210 00:36:34,560 --> 00:36:41,250 simple and easy? That way, you don't have to worry about how hard do I need to know you don't need to know that. Because you're waiting for something to
211 00:36:41,250 --> 00:36:48,690 happen. What is that? Once it takes out the low of the fair value gap and trades in there you back through that leg and see, okay, here's what there's that
212 00:36:48,690 --> 00:36:57,510 trigger. That's that shift in the market structure you're waiting for, then you have the displacement lag. So once you have that, you can go back in and look
213 00:36:57,510 --> 00:37:10,590 for the fair Vega. Okay, so that's the two entry strategies for this model. There's no other way of worrying about what does it look like this now,
214 00:37:10,860 --> 00:37:19,260 visually, this is what you're doing. Okay. It's simple. If it feels like it's not simple, watch this part of the video a couple times, and then go back and
215 00:37:19,260 --> 00:37:28,800 look at price action in live data and in all back testing, go back and look at old moves. And you'll see this logic is there. Okay. It's algorithmic, it
216 00:37:28,800 --> 00:37:37,110 repeats. Unfortunately, today, it didn't give me the setup to allow myself to sit down with you tonight. Okay, this is what I did, because I was going to
217 00:37:37,110 --> 00:37:47,040 trade it. Okay, I'm going to enter it the low, run the highs go short, and write it down that way too. I was going to do it. But nothing panned out. It didn't
218 00:37:47,040 --> 00:37:54,840 mean that the models broke, it doesn't mean that the models broke, it doesn't mean that I can't find winning trades, it just means that the market did not
219 00:37:54,840 --> 00:38:04,830 provide the structure to allow this to form. Does it result in a losing trade? No, because the logic wasn't utilized. That would have put me in a losing trade.
220 00:38:06,000 --> 00:38:18,360 It never formed. This right here, reverse the logic here, apply it. That's the homework, apply this logic here. Does this appear in the fair value get that I
221 00:38:18,360 --> 00:38:25,320 was drawing your attention to you this morning on the commute post? No. And no one can manipulate and say it was.
222 00:38:26,460 --> 00:38:37,170 It just wasn't there, folks. So it's just a missed move. And there's nothing you can do about it. Except for beat yourself up and say Oh, I wish I woulda coulda
223 00:38:37,170 --> 00:38:46,770 shoulda in that stuff doesn't make your money. And it doesn't take any more money out of your pocket. So don't do it. Don't waste time doing that. It's
224 00:38:46,770 --> 00:38:52,620 toxic thinking. So hopefully I don't need to bring up all this negativity anymore and address any of it like this because I'm never going to into
225 00:38:52,620 --> 00:39:02,520 entertainment in a video again. But I want to lay the foundation in, provide my response to anybody that would think like this or say this, whether they're
226 00:39:02,520 --> 00:39:10,320 trolling, whether they are sincere, where they feel like they've been victimized, okay? You've done that to yourself. If you push the button and you
227 00:39:10,320 --> 00:39:20,220 enter trade, you did that. Nobody in this community, including me, Chief of all them, never told you to buy or sell anything. You're never going to have
228 00:39:20,220 --> 00:39:28,890 instructions where I'm telling you to buy or sell anything. It's always going to be studied this, observe this, watch this. That's That's what I'm saying.
229 00:39:29,280 --> 00:39:39,930 They're not codewords for anything. There's specific elements of study. Put your attention here, watch and see, observe. Is there any characteristics repeating
230 00:39:39,960 --> 00:39:49,380 with the logic that I teach? That's not trading? Okay. That's not trade advice. That's not investing advice. That's not money management advice. It's just
231 00:39:49,410 --> 00:40:00,570 practicing reading price action. And that's how I teach. It might not be for you. Maybe you want me to drive around in Lamborghinis and and lie to you about
232 00:40:00,570 --> 00:40:10,530 stupid stuff that ain't gonna work in the market. That's just not what I'm gonna do. That's not me. I do things in the charts. That makes sense. I teach it. It's
233 00:40:10,530 --> 00:40:22,440 transferable knowledge. But you have to be prepared to receive it, study it, practice it, and endure all these times where you look for something to be
234 00:40:22,440 --> 00:40:33,030 there, and it doesn't happen and then a move takes place that you've missed. That's the test. Are you going to lose your mind? Because you missed a big move
235 00:40:33,030 --> 00:40:51,960 like today? I used to do that when I was younger. No any got me nowhere but backwards. Don't live in your losses. Missing moves is a loss. Taking a monetary
236 00:40:51,960 --> 00:41:04,500 loss in the market is a loss. Taking a demo trade, that's a losing trade. That's a loss. The mental impact on that you have control over you can decide to
237 00:41:04,500 --> 00:41:15,390 amplify every bit of that. Or you can say, You know what, what can I take from this, so that way I can never be hurt this much again by it because it will
238 00:41:15,390 --> 00:41:27,330 repeat. But you have to be able to condition yourself so that way when these knocks and trips and falls and setbacks when they occur. I've been here before.
239 00:41:27,930 --> 00:41:36,330 That way it doesn't completely derail you. That's an important lesson. And unfortunately, no one really touches that because they all pretend that they
240 00:41:36,330 --> 00:41:46,740 never make mistakes, and they always catch the runs. And I'm just not that kind of guy. I'm honest. I'm going to tell you. If it doesn't fit you, again, change
241 00:41:46,740 --> 00:41:49,500 the channel. Until next time, be safe.