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Last modified by Drunk Monkey on 2022-10-11 06:56
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1 == Outline ==
2
3 ##02:01 -## How liquidity will be hunted on the heels of the PPI numbers.
4
5 ##04:26 -## Annotation of the high and stop loss.
6
7 ##09:16 -## Why you don’t want to see this candle high.
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9 ##11:55 -## The fear of missing out is a big factor in trading.
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11 ##13:49 -## Why you don’t want to take a trade in the morning session after a large-range day.
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13 ##19:02 -## You have to know where you’re likely to get it wrong -.
14
15 ##21:06 -## If it accelerates back below the opening price, then it should not come back up.
16
17 ##23:37 -## How to use this as a secondary entry technique.
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19 ##25:52 -## How do you know when you’re going to fall victim to this?
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21 ##28:06 -## Why you need to avoid trading in the morning session.
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23 == Transcription ==
24
25 (% class="hover min" %)
26 |1 |00:02:01,890 ~-~-> 00:02:11,910 |ICT: Right, so I've already tweeted that I'm watching that Fairbury get with this vise on liquidity pool rate there. And I think that this liquidity will be
27 |2 |00:02:11,910 ~-~-> 00:02:25,020 |hunted. On the heels of the PPI numbers, it's going to come out here in about a minute and a half. So you have a volume imbalance in here between the bar
28 |3 |00:02:25,020 ~-~-> 00:02:34,530 |disease candles here and you have the low of that candle and this candle is high. So plus the short term high so I'm thinking they're going to pump it right
29 |4 |00:02:34,530 ~-~-> 00:02:45,120 |above the opening price at midnight, power three kicks in after it takes the short term stops here and then attack the sell side. Now I've already stated I'm
30 |5 |00:02:45,120 ~-~-> 00:02:55,710 |not going to push the button because it's a big day yesterday so I'm not trying to chase it but it's important for you and them to see why the morning session
31 |6 |00:02:55,740 ~-~-> 00:03:07,110 |after a big down day or big up day should be avoided in trading the pm session later on. Can you see how that fair value gap is a draw on liquidity rate before
32 |7 |00:03:07,920 ~-~-> 00:03:22,170 |the news event that's going to come out here in a couple of seconds Yes, you know, you don't have to be polite they hear about you and then they never hear
33 |8 |00:03:22,170 ~-~-> 00:03:22,380 |you
34 |9 |00:03:31,800 ~-~-> 00:03:37,950 |now I know somebody out here because I've already shared a short little video explaining that I think it's gonna go up the debt if you have a gap and then go
35 |10 |00:03:37,950 ~-~-> 00:03:46,710 |down below 39 3050 I already know there's people out there that's going to be taking this trade and this is going to be probably one of those instances where
36 |11 |00:03:46,710 ~-~-> 00:03:49,110 |they're gonna regret it right there. There's a gap there
37 |12 |00:03:55,440 ~-~-> 00:03:58,440 |so PPI numbers it's a high impact news driver
38 |13 |00:04:04,860 ~-~-> 00:04:17,490 |they want to see it overlap all these gaps and attack the low here aggressively and then big smashed down into sellside.
39 |14 |00:04:23,370 ~-~-> 00:04:34,740 |Does that would be at both the high right here. That's framing the high the gap. But again, because it's the day after large rains day, we don't want to do
40 |15 |00:04:34,740 ~-~-> 00:04:45,180 |anything because it's more prone to be either a losing trade or get stuck in chop
41 |16 |00:05:09,510 ~-~-> 00:05:24,360 |actually annotate the high to represent a stop loss so we'll go got one quarter point no one act as a stop loss
42 |17 |00:05:37,980 ~-~-> 00:05:39,090 |now we can see visually
43 |18 |00:05:44,730 ~-~-> 00:05:57,870 |see right away like I would have wanted to see this thing completely come down and overtake that gap there but it's been lethargic so far so that would be a
44 |19 |00:05:57,870 ~-~-> 00:06:01,290 |problem for me like it would need to really expand lower
45 |20 |00:06:09,090 ~-~-> 00:06:20,550 |but if we can get below 39 3050 level it could probably snap up from there because a lot of folks that are looking to trade a breakout below yesterday's
46 |21 |00:06:20,550 ~-~-> 00:06:33,780 |low which is again over here and anyone that tried to buy it they had their stop loss below here in the form of a sell stop so they washed it overnight into this
47 |22 |00:06:33,780 ~-~-> 00:06:40,770 |area here and to do order below or looking for a continuation and take out yesterday's low
48 |23 |00:06:49,800 ~-~-> 00:06:59,820 |mass see how we're inside this small fear of a gap and here we don't want to see it respected and in any of that we want to see this come Rayleigh into it and
49 |24 |00:06:59,820 ~-~-> 00:07:05,850 |get below it and once it gets below it you can act this some measure of resistance you're saying
50 |25 |00:07:20,820 ~-~-> 00:07:34,320 |know if you're in a trade as it hits into that fear vague that we're talking about now that'd be a partial but again bearing in mind that we're trading days
51 |26 |00:07:34,320 ~-~-> 00:07:43,950 |that are not going to be on the heels of a large range day at least not the morning session z are struggling to get below that fear Vega
52 |27 |00:07:59,580 ~-~-> 00:08:10,500 |now we've already taken the liquidity below the low here in here that's why I think we're we're stuck in this range here now because a lot more liquidity
53 |28 |00:08:10,920 ~-~-> 00:08:12,120 |below yesterday's low.
54 |29 |00:09:16,500 ~-~-> 00:09:28,350 |Now you don't want to see this candle here. You don't want to see it's high taken out to revisit that fear of a gap now. That's not constructive for a low
55 |30 |00:09:28,350 ~-~-> 00:09:42,510 |resistance liquidity run to take out the third arm 4250 and 3938 50 level touching here. We're going back into the body here. That's permissible. But we
56 |31 |00:09:42,510 ~-~-> 00:09:50,130 |don't want to see you go back above this candle time. That would be it would be an instance where I would neutralize trade
57 |32 |00:09:55,410 ~-~-> 00:09:57,300 |no words protecting the stop
58 |33 |00:10:02,879 ~-~-> 00:10:13,019 |Returning back to the opening price at midnight. That's that dotted line here. So the logic is, we should be bearish. But we don't trade the morning session,
59 |34 |00:10:14,009 ~-~-> 00:10:25,379 |we worked above the opening price at midnight overnight, came down took out the short term, sell side here left the yesterday's low intact, returned to a fair
60 |35 |00:10:25,379 ~-~-> 00:10:33,689 |value gap and above the opening price. So that's power three. The only thing that's not going good for it is because it's on the heels of a day, that was
61 |36 |00:10:33,689 ~-~-> 00:10:43,079 |large, big washout day yesterday. So don't try to go in on the morning session. A lot of manipulation in the morning session one big down day or update.
62 |37 |00:10:45,629 ~-~-> 00:10:56,189 |spending way too much time hanging around it opening prices should have already rejected it went lower. So a lot of folks ask me all the time, if I'm in a
63 |38 |00:10:56,189 ~-~-> 00:11:08,489 |trade, how do I know when to kill it like keep the stop loss from being tripped and taking the full initial risk or absorbing the risk, or that way by being
64 |39 |00:11:08,489 ~-~-> 00:11:19,589 |stopped out? What I just outlined here, if it takes out this candles high here, I won't allow for the stock to be hit. So I would close a trade here. So while
65 |40 |00:11:19,589 ~-~-> 00:11:39,059 |I'm pointing and talking to you, this zone not in a trade. But I was in a trade of you here ready to go collapse tree or use the open position tab here. Close
66 |41 |00:11:39,059 ~-~-> 00:11:54,209 |it out. But it's already given in my mind. A clear illustration of what it is that keeps me from wanting to trade the following days morning session on a big
67 |42 |00:11:54,209 ~-~-> 00:12:06,689 |day. Any day, there's a big huge range like yesterday was massive. The next day everybody's doing what that didn't trade yesterday where they want to do they
68 |43 |00:12:06,689 ~-~-> 00:12:17,909 |want to be a participant in something. So the the natural order of things is the excitement, the fear of missing out, all those things will be new catalysts for
69 |44 |00:12:17,909 ~-~-> 00:12:22,439 |them that go in and engage in that's usually what happens here, they get chopped up
70 |45 |00:12:36,660 ~-~-> 00:12:38,880 |see how long it's the opening price?
71 |46 |00:12:59,160 ~-~-> 00:13:12,330 |Not be it for me, I collapse trade there. If it was as long as if I was in a trade going about that would indicate that it's likely to go higher and longer,
72 |47 |00:13:12,840 ~-~-> 00:13:16,890 |and maybe even challenge overnight high. So I wouldn't be willing to sit in that.
73 |48 |00:13:28,200 ~-~-> 00:13:39,630 |So it's hard to tell where like, if we were to use the volume and balancing here were these candles separate, where there's no bodies connecting them. That was
74 |49 |00:13:39,630 ~-~-> 00:13:50,670 |my entry. You know, I could have potentially either broke even or just covered commission costs or maybe took the commission costs into effect. But either way,
75 |50 |00:13:50,700 ~-~-> 00:13:58,560 |would not be offering an opportunity for the stop loss to be tagged. But I'll leave the line here in the event that it does punch up into it, because that
76 |51 |00:13:58,560 ~-~-> 00:14:08,940 |would be an illustration because they want to see me get it wrong. Like they see all the time. Every single time I show something or I call something, it comes
77 |52 |00:14:08,940 ~-~-> 00:14:18,210 |to fruition. So it would be beneficial for them to see and understand why I'm saying I don't want to trade the morning session after the larger aims days.
78 |53 |00:14:18,570 ~-~-> 00:14:31,110 |Because even though it could pan out if it went down to 3938 50 Would I haven't gone back up into this area here that would otherwise force my hands and not
79 |54 |00:14:31,110 ~-~-> 00:14:43,590 |stay in a trade to protect the stop loss that's being illustrated here that little wine it would further well prove why I have the logic where I don't want
80 |55 |00:14:43,590 ~-~-> 00:14:48,900 |to take a trade in the morning session after a large range day because that's more more prone to be inaccurate
81 |56 |00:14:56,400 ~-~-> 00:15:03,600 |So that right there doesn't that doesn't bode well for the short So we will, we would already been neutralizing the position anyway.
82 |57 |00:15:11,460 ~-~-> 00:15:25,380 |So for study purposes it did go up into the fair value gap, it did trade down into the discount fair value gap that would offered what? Partial, so a partial
83 |58 |00:15:25,380 ~-~-> 00:15:39,060 |taken, they're looking to not really adjust the stop loss, because coming back into here, we already had made the decision that if we take out this candles
84 |59 |00:15:39,060 ~-~-> 00:15:49,620 |high, we would neutralize a trade anyway, protecting the full stop. So this is the part that, you know, a lot of students, they, they struggle with this
85 |60 |00:15:49,620 ~-~-> 00:15:58,980 |because they don't number one. They want to get their full profit, to hear other people out there saying yeah, this is this is foolish to take a partial, you
86 |61 |00:15:58,980 ~-~-> 00:16:09,660 |took the initial risk. So why take a small little are multiple, when you've taken let's say to 2% risk, why would you want to take a half a 1% off and a
87 |62 |00:16:09,660 ~-~-> 00:16:19,650 |partial. Because you're trying to make money. I mean, that's why you're doing it, you know, unless you take away something from the position when it gives you
88 |63 |00:16:19,650 ~-~-> 00:16:27,450 |an opportunity to do so profitably. The broker is not going to do that for you. And, and the platform isn't going to just magically just do it for you, you have
89 |64 |00:16:27,450 ~-~-> 00:16:32,280 |to have orders in there, or engage them manually, if there's profit to take take.
90 |65 |00:16:42,270 ~-~-> 00:16:53,250 |Now, let's play devil's advocate for a moment, say it just come up to take out that short term high right there. And then say, sinks and goes down here and
91 |66 |00:16:53,250 ~-~-> 00:17:04,470 |takes the sell side now. Invariably, because I've already shared the expectation, what I think would likely happen here, not that I'm engaging, you
92 |67 |00:17:04,470 ~-~-> 00:17:12,960 |can see it's a live account, there's no button being pushed, and we talked about it as it was happening. This instance where it comes up, just take that short
93 |68 |00:17:12,960 ~-~-> 00:17:22,650 |term high name runs down here and takes the 39 3050 out, and they're hearing me now talk like this, they'll say, Well, you know, you collapsed the treat, you
94 |69 |00:17:22,650 ~-~-> 00:17:34,050 |would have missed that treat, right? That's, that's that's the point, you have to manage the risk. Trade within the realm of high probability. And the fact
95 |70 |00:17:34,050 ~-~-> 00:17:43,980 |that we want to bow this candle is high, after running in here and trading to a discount, we don't ever want to see it come back up here again, like it's the
96 |71 |00:17:43,980 ~-~-> 00:17:52,650 |logic is, is it needs to come down to the sell side, and then attack the sell side here. If it's hemming and hawing or you know, hanging around in that the
97 |72 |00:17:52,650 ~-~-> 00:18:02,730 |senator here at the opening price, or in the fair value gap, it's spending too much time. So the first thing I teach, because of the algorithms tendency to
98 |73 |00:18:03,300 ~-~-> 00:18:14,670 |lean heavily on time first, then price. So the aspects of time this morning was the 830 news release, we should have seen it do what we saw, it ran up hit the
99 |74 |00:18:15,120 ~-~-> 00:18:26,940 |Vega, it broke lower went out into Vega, there's a discount relative to the range low and the high that formed here. So trading down to this area here if
100 |75 |00:18:26,940 ~-~-> 00:18:39,540 |you didn't take a partial while you're regretting it now. So all these things are building blocks to understanding number one, trade management trade
101 |76 |00:18:39,540 ~-~-> 00:18:50,580 |selection. The first stage of how losses are mitigated and drawdown, you have to understand how you're going to lose like where are the opportunities for you to
102 |77 |00:18:50,580 ~-~-> 00:18:58,560 |fall victim to price, just because we can see fair value guys just because you can see liquidity pools. And just because there's a new driver coming out does
103 |78 |00:18:58,560 ~-~-> 00:19:10,230 |not mean that everything's going to come together and all the planets are going online. And it's it's going to be perfect for you. So in my time, I Belger. The
104 |79 |00:19:11,880 ~-~-> 00:19:20,610 |the time I spent trying to figure out where my losing trades. She always whenever whenever she's in earshot of the microphone, if I'm recording, she'll
105 |80 |00:19:20,610 ~-~-> 00:19:33,390 |always come near me and shake her head and make her ears wet. Do you have to know where you're likely to get it wrong. And by no no's in advance, you just
106 |81 |00:19:33,420 ~-~-> 00:19:42,270 |simply let the market do what it wants to do. But you when you engage like a study, because when it doesn't pan out in the manner that you would if you would
107 |82 |00:19:42,270 ~-~-> 00:19:50,220 |have pushed a button, okay, if you would have done it for real. But because you have rules of engagement that tell you that you're not actually going to push
108 |83 |00:19:50,220 ~-~-> 00:19:57,570 |the button you're just going to watch price and study it. Watch how it reacts off this candle is high in the fear of a gap and it should expand up in here and
109 |84 |00:19:57,570 ~-~-> 00:20:10,080 |take out these highs. Maybe we reach up into here But unless you have parameters that keep you from wanting to sit on your hands and do nothing, that's one of
110 |85 |00:20:10,080 ~-~-> 00:20:20,430 |the most important tenants to profitable longevity. And consistency is knowing when not to do something, there's nothing wrong with sitting in front of the
111 |86 |00:20:20,430 ~-~-> 00:20:28,530 |charts and studying price, but you can't be in a position where it's going to load you into actually pushing the button when you know, your rules, or at least
112 |87 |00:20:28,530 ~-~-> 00:20:37,920 |my rules I'm trying to share with everybody else, is that many times after large Range Days, even if I was, let's say, sciatica, a series of trades yesterday,
113 |88 |00:20:37,920 ~-~-> 00:20:45,420 |and I was profitable. But you know, I was not I went, I didn't do anything, we sat here we watched it, and it moved too quickly. So there was nothing for me to
114 |89 |00:20:45,420 ~-~-> 00:20:58,350 |do. If I would have made money yesterday and I went in, in the morning session here, I would be breaking my own rules. So I I'm actually hoping that this thing
115 |90 |00:20:58,350 ~-~-> 00:21:05,370 |goes up and hits what would otherwise be a stoploss. For me, so that way, they get a taste of what it was like me getting it wrong, but I'm sticking to my
116 |91 |00:21:05,370 ~-~-> 00:21:09,960 |roles. And it would really illustrate why I have the role.
117 |92 |00:21:35,039 ~-~-> 00:21:46,919 |Now, if it accelerates back below the opening price, which is that little blue dotted line, if it accelerates down below that, then it should not come back up,
118 |93 |00:21:46,979 ~-~-> 00:21:58,469 |it would have been just them running back up here to take two stops here and then price lower with the fact that we're just spending too much time, it's not
119 |94 |00:21:58,679 ~-~-> 00:22:08,219 |trying to get somewhere in a hurry, that being below this low. And for the liquidity. So it should have in my mind, if I would have been in this trade.
120 |95 |00:22:09,719 ~-~-> 00:22:20,339 |Like say it was real entry, and it wasn't on the heels of a large range day yesterday. I'd be really interested to see it move now. Like when I do my
121 |96 |00:22:20,339 ~-~-> 00:22:31,349 |recordings, and I have the benefit of typing out what I think is likely to occur. Like I'll say, I'm expecting range expansion now. Speed. Now I want to
122 |97 |00:22:31,349 ~-~-> 00:22:41,339 |see it start moving with a lot of velocity right now. I'd be wanting that to happen at this moment, actually minutes ago. But because it's hanging around.
123 |98 |00:22:43,619 ~-~-> 00:22:57,239 |Notice the high and the low of the day. That being the highest point day, this being the lowest point of the day. Where are we at presently, in reference to
124 |99 |00:22:57,239 ~-~-> 00:23:06,899 |that range between that high and that low? Where's price right now that would be equilibrium. Right? Right. So it's, it's stagnating around equilibrium so that
125 |100 |00:23:06,929 ~-~-> 00:23:14,969 |we don't like to see that. If it returns back to equilibrium, we want to see it move quickly away from it, it has to move right away from that, because
126 |101 |00:23:14,969 ~-~-> 00:23:25,229 |equilibrium is acting as fair value. So if the algorithm is giving that moment, where it returns back to equilibrium, or midpoint of the range, it needs to
127 |102 |00:23:25,229 ~-~-> 00:23:36,959 |signal to us as smart money that is wanting to spool to a logical next liquidity pool that being below this low here. And here, because it's spending too much
128 |103 |00:23:36,959 ~-~-> 00:23:49,109 |time. That's a concern. So if OWD wasn't a live trade, I'd be demanding price. Now not get above the midpoint of this coast candle here because mean threshold,
129 |104 |00:23:50,039 ~-~-> 00:24:01,229 |this could act as a bearish order block and trade lower, attack this low in here. Now, if it does this, folks that again, heard me outline this here again.
130 |105 |00:24:03,719 ~-~-> 00:24:12,749 |There'll be concerned with the fact that well wait a minute, now your initial trade was a failure because you've closed it. Well now because partial would
131 |106 |00:24:12,749 ~-~-> 00:24:22,469 |have been taken down here. This could be utilized as a secondary entry technique where if it goes up and hits the opening of this candle here, that could be a
132 |107 |00:24:22,469 ~-~-> 00:24:36,599 |short entry, and a stop about the short term hot. So we'll we'll look at as the next case study here, please read this out but as you can see there. So let's do
133 |108 |00:24:36,599 ~-~-> 00:24:55,109 |this. Again, the idea is this is not to be done, because it's a day after the large range day. But these are trade ideas that I would engage on if it weren't
134 |109 |00:24:59,339 ~-~-> 00:25:10,169 |if it touches that we will assume that that would be a short entry. Okay? And stop would be here. Alright, so there you go, that'd be a short entry in the
135 |110 |00:25:10,169 ~-~-> 00:25:19,289 |stop loss would be here, one a day that I would not be trading a morning session. So I've already outlined publicly recording that this fair pay gap,
136 |111 |00:25:19,289 ~-~-> 00:25:27,809 |that'd be an area I'd expected to trade today and go for the sell side, normal, but not engaging, not pushing the button in, you can borrow, we're here. We're
137 |112 |00:25:27,809 ~-~-> 00:25:40,169 |not doing anything. The Live account hasn't been pushed, there's no trade entries. This idea here, if it weren't a day, after large range day, this
138 |113 |00:25:40,199 ~-~-> 00:25:50,279 |wouldn't be a trade that I would consider as well. But again, if it runs out my hits it, it just helps put it in perspective as the reasons why I don't trade it
139 |114 |00:25:50,489 ~-~-> 00:25:59,189 |on a day after a large range day. And if I did these things, they would see me losing. And then I would have examples of saying, okay, here, I did this wrong.
140 |115 |00:25:59,459 ~-~-> 00:26:09,899 |And the market did this as a result. And I got stopped out and I absorbed a loss. The folks that study with me, because I don't show them a litany of losing
141 |116 |00:26:09,899 ~-~-> 00:26:18,119 |conditions and trades or failed ideas. It seems too good to be true. And it's only because I have been doing it long enough to know that these are my problem
142 |117 |00:26:18,119 ~-~-> 00:26:26,069 |areas. And this is where I'm going to fall victim to it. And it's going to probably snap up here and hit that line and it would be viewed as a stoploss
143 |118 |00:26:26,069 ~-~-> 00:26:36,119 |being hit. And the difference between the two levels, that would be the loss, but lookouts is hanging around still in equilibrium between
144 |119 |00:26:37,799 ~-~-> 00:26:46,859 |here inherence trough fit on that just to illustrate some shorter is going to be people that aren't falling, what I mean, there's 50% of that, it's just hanging
145 |120 |00:26:46,859 ~-~-> 00:26:55,499 |around in there. So we don't want to see that it should have already moved away one direction or the other, but because they're just stagnant. That is the
146 |121 |00:26:55,499 ~-~-> 00:27:05,429 |characteristic of what the morning session looks like, after a big range day, and extremely large range they like yesterday, but the afternoon should have
147 |122 |00:27:05,429 ~-~-> 00:27:20,009 |something it will that's my that's my aim, I'm looking for something to be a little bit more high probability a little bit more of a low resistance liquidity
148 |123 |00:27:20,009 ~-~-> 00:27:28,079 |run, where it's going to be easy to see, it's going to be trying to run to a specific pool of liquidity. And with the proper market structure behind it,
149 |124 |00:27:28,079 ~-~-> 00:27:36,419 |whereas this is just it's just going sideways. And all we're trying to do is capture a move that would otherwise make perfect sense that it should take out
150 |125 |00:27:36,419 ~-~-> 00:27:46,469 |yesterday's low if everything's bearish. Okay. And yes, they obviously would indicate that average bear would see. And there's probably something bearish to
151 |126 |00:27:46,469 ~-~-> 00:27:54,149 |the market right now. It would make sense what they want to take out yesterday's low, but this is what happens, it denies them in the morning, the follow through
152 |127 |00:27:54,149 ~-~-> 00:28:04,529 |that they're looking for, and there's a stop loss. So for those who want to see me get it wrong, and when I would frame a trade and how it would be wrong, I
153 |128 |00:28:04,529 ~-~-> 00:28:15,239 |know when I'm likely to fail. And that's not a weakness, that's a strength. Because I have these understandings of where I've fallen victim to price over
154 |129 |00:28:15,239 ~-~-> 00:28:25,439 |the last 30 years, I try to avoid, I tread very lightly in these conditions, because I don't know if the algorithm is going to do what I want it to do. In
155 |130 |00:28:25,439 ~-~-> 00:28:40,589 |these instances, outside of these times these problem areas. My executions are cleaner, my understanding is, you know better synced to what the markets
156 |131 |00:28:40,589 ~-~-> 00:28:49,199 |algorithms doing. And I don't regret missing any moves. Like for instance, if this would have panned out, say it would have went down to 3938 50. And it did
157 |132 |00:28:49,199 ~-~-> 00:28:58,919 |it cleanly just ran right down to it. I'd be on Twitter, and or in this recording and saying okay, but it means nothing, because I have a rule that says
158 |133 |00:28:58,919 ~-~-> 00:29:10,379 |I cannot trade in the morning session. So I don't I don't puff myself up on that. And I don't want anybody feeling like, well, I missed that move. Because
159 |134 |00:29:10,379 ~-~-> 00:29:18,869 |if you do that, and you feed yourself toxic thinking about, Oh, I messed up, or I missed the move that took place like a lot of people that have regret for not
160 |135 |00:29:18,869 ~-~-> 00:29:29,189 |having been in the move yesterday. And they struggle with that. And I talked about this last night in the Twitter space, saying that it leads to people
161 |136 |00:29:29,189 ~-~-> 00:29:38,099 |wanting to rush to get into my new tomorrow, which is today's trading the day after the large range day. And they do things and they fall victim to this is
162 |137 |00:29:38,249 ~-~-> 00:29:49,799 |consolidation day where it's just chopping up and down, up and down. Now there's trades here, but the new students, many times that the young men, they see
163 |138 |00:29:49,799 ~-~-> 00:29:58,379 |themselves as a superhero because they've watched a couple videos, they've seen me do something so it feels like well, I've watched him do it so therefore I'm
164 |139 |00:29:58,379 ~-~-> 00:30:08,249 |gonna be able to do it and they Ignore the times when I'm saying that these are kryptonite to me, like these sessions after large Range Days in the morning.
165 |140 |00:30:09,149 ~-~-> 00:30:20,339 |They are kryptonite to me. So if I'm going to trade like Superman, okay, I'm not going to go out there when the playing field is covered with Kryptonite where I
166 |141 |00:30:20,339 ~-~-> 00:30:31,139 |know my weaknesses have the advantage over my strengths. So it's hard to communicate that to some individual, especially when it's a language barrier.
167 |142 |00:30:31,529 ~-~-> 00:30:38,669 |They think that just because there's something on my chart that I'm making note of, or referencing, therefore, then it's going to be a winning trade, just
168 |143 |00:30:38,669 ~-~-> 00:30:49,949 |simply because I see T said, so. No, there's times like this, where I'm illustrating it with Fourcade clarity, that this is the very reason why I don't
169 |144 |00:30:49,949 ~-~-> 00:30:58,199 |want to be trading the next day's morning session. And I would rather wait till the afternoon, where things hopefully have worked out all the the range here and
170 |145 |00:30:58,199 ~-~-> 00:31:07,139 |the liquidity that is above or below the range that's formed in the morning session going into the New York lunch, then I can work with that as a PM session
171 |146 |00:31:07,169 ~-~-> 00:31:15,119 |idea. It doesn't mean I'm going to have a winning trade, it means that I'm simply just waiting for something that is a little bit more likely to be
172 |147 |00:31:15,299 ~-~-> 00:31:17,849 |trustworthy. Does that make sense? Yes.
173 |148 |00:31:21,089 ~-~-> 00:31:29,069 |Again, look how much time we're just hanging around in there. That's very frustrating. It's frustrating for anyone that's going long. It's frustrating for
174 |149 |00:31:29,069 ~-~-> 00:31:37,739 |anyone that tried to go short. And that's one of the characteristics that's the signature of a morning session after a large range day. It's punishing, like
175 |150 |00:31:37,739 ~-~-> 00:31:47,699 |it's nerve racking. And it's just better for me to just leave it alone because I know I can find something in the afternoon or the next trading day. I don't have
176 |151 |00:31:47,699 ~-~-> 00:32:00,329 |to have anything for this afternoon, but I'm gonna go on hunting looking for. So this makes sense to you. Yes. That's gonna be it. Hope you guys found that
177 |152 |00:32:00,329 ~-~-> 00:32:00,899 |insightful