ICT YT - 2023-01-24 - Conquering Fear Of Being Wrong Vs. Profitability
Last modified by Drunk Monkey on 2023-01-27 05:33
Outline
02:59 - E-Mini S&P Futures -.
04:53 - Fear of being wrong vs. focus on profitability -.
10:15 - The importance of having a full calendar year of experience.
13:14 - Looking for patterns for pattern’s sake.
19:50 - The importance of understanding why you’re getting into a trade -.
26:40 - Take everything off your chart and look at the market.
29:14 - S&P/Nasdaq divergence at the lows of September.
34:40 - Holding on to right or wrong vs harvesting.
38:08 - The desire to be right vs. profitability.
45:24 - Why you need to stop placing so much emphasis on being correct and never get it wrong.
52:57 - There’s no shame in learning how to trade -.
56:08 - Don’t measure your progress against someone else’s. Your progress is uniquely your progress.
01:02:06 - He only wants to make the money, that's the proper mindset.
01:05:49 - He doesn't want to fail and do it wrong.
01:11:46 - When you do this work you get all the results and you own it.
01:18:13 - Become the trader that you don’t even realize is in the making -.
01:21:24 - The market is a mirror -.
01:27:27 - How to find a model that fits your personality.
01:30:56 - Market Structure Break - Market Structure Shift.
01:35:55 - What to look for in the market.
01:42:28 - What is a bullish breaker?
01:45:41 - What you need to look for in a trader -.
01:51:58 - Hourly Chart:.
01:55:45 - How do you log what you see in your charts?
02:03:10 - What’s the likelihood of these relative highs?
02:10:51 - Real-time trading charts with one minute candles.
02:15:05 - There’s a gray area where experience dictates the outcome.
02:20:53 - What do you think I’ve been telling you? Five handles five panels is all over the place.
02:24:10 - How to plan your trading.
02:31:49 - Don’t touch the Dow.
Transcription
| 1 | 00:02:59,670 --> 00:03:10,710 | ICT: Everybody's doing well good morning just waiting for my confirmation that audio has gone through |
| 2 | 00:03:39,960 --> 00:03:42,960 | Alright, so it's important to pay attention to this risk disclaimer |
| 3 | 00:04:08,340 --> 00:04:23,760 | Alright, so we are looking at the E Mini s&p futures contract for March delivery 2023 in the upper left hand corner this one up here that's the hourly chart |
| 4 | 00:04:31,500 --> 00:04:47,160 | and the lower left is the 15 minute timeframe and in the larger chart to the right is the one minute chart all the same market just different timeframes. |
| 5 | 00:04:53,670 --> 00:05:04,920 | Alright, so if you're not following me on Twitter, you're probably not going to Appreciate as much as those individuals that watched me outline this morning was |
| 6 | 00:05:04,920 --> 00:05:15,420 | really short. But I'll give you the context as to why I was drawing everyone's attention to the buyside liquidity. And what we may or may not see going forward |
| 7 | 00:05:15,420 --> 00:05:30,090 | for the rest of the day. So it's topic I want to talk about is conquering fear of being wrong, versus the focus being on profitability. So if you're starting |
| 8 | 00:05:30,120 --> 00:05:42,930 | with me, or in trading in general, it's easy to get inundated with fear. And I promise it won't be a long, drawn out. Boring session. So I'm gonna take you |
| 9 | 00:05:42,930 --> 00:05:51,030 | into the charts. But I'll I'll kind of like want to build a foundation here as to why I'm going to be talking about this topic and why it's something that it's |
| 10 | 00:05:51,030 --> 00:05:59,880 | important for you to tackle early on. But it's also something for you to minimize as a concern. In the beginning, when you first start learning how to |
| 11 | 00:05:59,880 --> 00:06:12,990 | trade, and you're watching these charts, and it looks like a foreign language you've never learned before. Pressuring yourself to try to find correct entries, |
| 12 | 00:06:13,260 --> 00:06:26,340 | and correct stop placements. targets. Which timeframe in which market should you be falling? What approach or model or technique are you going to employ? Those |
| 13 | 00:06:26,340 --> 00:06:39,960 | are all normal things for a new student or trader to be concerned about. But the most significant factor in a developing students mindset is conquering the fear |
| 14 | 00:06:39,960 --> 00:06:52,350 | of being right or wrong. And more specifically, the fear of getting it wrong. There's nothing wrong with doing it incorrectly. But there is a lot of things |
| 15 | 00:06:52,350 --> 00:07:03,390 | wrong with doing it incorrectly, recklessly, with over leveraging overtrading and just gambling. So there's a lot of things that I teach in price action that |
| 16 | 00:07:03,390 --> 00:07:17,520 | are repetitive in nature, they tend to repeat when conditions are prone to produce the outcome that we're looking for. Now there are times when even myself |
| 17 | 00:07:17,520 --> 00:07:30,330 | I'll go in and expect a certain price delivery something to bring in a certain response in price action. And I try to align myself with that mindset, through |
| 18 | 00:07:30,330 --> 00:07:40,350 | the charts through my teaching so that we my students that are following me on Twitter, are alerted to where I'm thinking the markets gonna go to next. Now, |
| 19 | 00:07:40,380 --> 00:07:47,220 | don't do it yet. Because the tweets are already there, I can't change them, I can't edit them. Okay, and you can see the responses from people that were |
| 20 | 00:07:47,220 --> 00:07:59,760 | watching it, then as well. I don't delete any tweet, sometimes I'll do a typo. I may or may not catch it. But whatever tweet I put out, it stays. So you can |
| 21 | 00:07:59,760 --> 00:08:15,930 | grade my consistency based on all that. As well as precision. So when we're looking at being correct, or trying to avoid being incorrect, what we're placing |
| 22 | 00:08:15,990 --> 00:08:27,270 | on ourselves is an unrealistic expectation because nobody is perfect. I'm not perfect, I do get it wrong. Sometimes I miss trade, sometimes I enter a trade |
| 23 | 00:08:27,300 --> 00:08:35,250 | and it will hit my stop loss and I never get a profit out of it at all. And there's nothing wrong with that, it doesn't mean that the model that I employ |
| 24 | 00:08:35,280 --> 00:08:47,880 | are the concepts that I use and create they fail in my use, because on the operator, not the concepts themselves, I've misinterpreted price. So there's a |
| 25 | 00:08:47,880 --> 00:09:00,090 | great deal of responsibility that is placed on me as the analyst slash trader, while I'm trying to keep the gambler that's an all of us at bay, trying to |
| 26 | 00:09:00,630 --> 00:09:16,290 | preserve equity, and keeping the hands of the gambler out of the equation. So when we look at charts, and what I'm lending you in my experience, is by being |
| 27 | 00:09:16,290 --> 00:09:28,470 | on Twitter, I point to levels that I think are the next draw on liquidity. I think that providing that tool that resource allows my students to at least |
| 28 | 00:09:28,530 --> 00:09:38,790 | engage in this is my opinion now, okay, doesn't mean I'm correct, but my opinion and my thought processes, if I've been doing this for 30 years, I think it's |
| 29 | 00:09:38,790 --> 00:09:49,170 | reasonable to assume that I would have a better understanding where price is gonna go then that of a new student or a new startup or someone that's casually |
| 30 | 00:09:49,170 --> 00:10:02,070 | just viewing my tweets or my content. Can I show before the fact where the market is likely to go to next and what narrative behind that exists? So, if |
| 31 | 00:10:02,070 --> 00:10:13,590 | we're looking for repetitive patterns, or delivery in price that should be consistent doesn't mean it's going to be 100%. It just means that over a long |
| 32 | 00:10:13,590 --> 00:10:23,730 | sample size, what's a long sample size? Well, it's relative to whatever you think is reasonable. I think reasonable isn't as a year, one year of |
| 33 | 00:10:23,730 --> 00:10:35,790 | consistently being able to see the market real time call it beforehand, tape reading, practicing, then, I think in my opinion, may want to disagree with |
| 34 | 00:10:35,790 --> 00:10:46,200 | this. But after a full calendar year, where you see all of the seasonal factors that come into the marketplace, all the seasonal tendencies, the geopolitical |
| 35 | 00:10:46,560 --> 00:10:58,920 | tug of war, things that create Well, reverberations through the marketplace, because those shockwaves will be seen in these candlesticks. So having a full |
| 36 | 00:10:58,920 --> 00:11:12,210 | year behind you, allows you to have the confidence that you've seen enough to know that this is worth pursuing. While I'm talking about this, I'm watching the |
| 37 | 00:11:12,210 --> 00:11:22,110 | 4032 level, there's by sign up there. So as I'm talking to you, I'm just thinking out loud, it doesn't mean I'm taking a trade. I've already done for |
| 38 | 00:11:22,110 --> 00:11:33,840 | today, and I'll show you why I did what I did, and we'll go over that. But I want you to think about how I'm learning from a book. Okay, learning from a |
| 39 | 00:11:33,840 --> 00:11:49,920 | course, learning from static texts that come in a PDF format, okay. They all have their place in our learning, they all have a certain measure of value. But |
| 40 | 00:11:49,920 --> 00:12:01,620 | seeing something demonstrated repeatedly over and over again, week after week, day after day, taking your focus into a specific location and price action. And |
| 41 | 00:12:01,620 --> 00:12:13,470 | then watching that price deliver real time from an alert that comes through a tweet that says, note this on your chart. This morning, I noted in a tweet, I |
| 42 | 00:12:13,470 --> 00:12:24,330 | said 4028. Note that love letter by side liquidity. The reason why I sent that tweet out was I was watching price in here. See how it's relatively equal here. |
| 43 | 00:12:24,750 --> 00:12:30,330 | Now retail traders and I apologize, you're gonna hear one of my boxers Bella, she's barking she's trying to get my attention because she's she knows I'm |
| 44 | 00:12:30,330 --> 00:12:44,040 | upstairs in the office. And this area here, it looks like resistance to retail traders. So whenever the market looks smooth like this, I have an expression I |
| 45 | 00:12:44,040 --> 00:12:52,680 | like to use all the time smooth edges like to be made jagged in the marketplace. Much in the same vein, you see these relative equal lows, the market goes |
| 46 | 00:12:52,710 --> 00:13:03,450 | through them multiple times, and then reacts this level in response to this shaded area. I'll cover that all six, I mentioned that, you know, tweet before |
| 47 | 00:13:03,450 --> 00:13:12,540 | the fact too. But I want you to think about how the things I'm showing in my tweets and in my recordings and my executions, because you're seeing one right |
| 48 | 00:13:12,540 --> 00:13:25,380 | here. It's based on things that repeat over and over again, algorithmically in price. So when I'm looking at price, and when I'm trying to teach you as my |
| 49 | 00:13:25,380 --> 00:13:36,990 | students, I'm not trying to put your mind into the framework of looking for patterns for patterns sake, which is equivalent to what indicator traders do. |
| 50 | 00:13:37,500 --> 00:13:44,010 | And allow me the liberty to say that without feeling like I'm beating anybody over the hill, I know there's traders out there that use indicators that are |
| 51 | 00:13:44,010 --> 00:13:53,040 | profitable. But I want you to just take a step back and think for a moment. If you're using by contrast, I want you to think about what I'm teaching them what |
| 52 | 00:13:53,040 --> 00:14:05,100 | other traders do with indicators. And if you look at an indicator and you're measuring the bullishness or bearishness of a particular market on a specific |
| 53 | 00:14:05,100 --> 00:14:18,510 | timeframe, using any indicator could be stochastic. It could be RSI, CCI, MACD, you name it, whatever it is that you're attributing religious belief that that |
| 54 | 00:14:18,750 --> 00:14:27,210 | indicator, and it's compression and manipulation of data, which is the open high, low and close that's already happened. That's all these indicators do. |
| 55 | 00:14:27,630 --> 00:14:35,610 | They number crunch, they take something that's already happened, which is what you've already seen here in this chart. These candles are representative of the |
| 56 | 00:14:35,610 --> 00:14:45,000 | raw data that the indicators used to compress and crunch and spit out some kind of overbought, oversold or continuation or something to that effect. And when I |
| 57 | 00:14:45,000 --> 00:14:52,080 | first started as a trader, it was important for me to figure out what indicator I should be using. |
| 58 | 00:14:53,460 --> 00:15:01,320 | And over time, I learned that it's not all that important, because I got caught up in this one ticket Quick Look at NASDAQ. |
| 59 | 00:15:09,210 --> 00:15:21,330 | The indicators are not the secret, it's not when I first started, I felt that it was. And I had a lot of indicators on my chart, lots of them. And it became a |
| 60 | 00:15:21,330 --> 00:15:32,160 | pursuit of finding the pattern in indicators. So one can argue, and this is my argument here is that if you're looking at indicators, you're no different than |
| 61 | 00:15:32,160 --> 00:15:43,710 | someone that looks at just a classic chart pattern, you're looking for the pattern of price delivering on the heels of something you've attributed to, with |
| 62 | 00:15:43,710 --> 00:15:55,080 | a religious belief. And there's a lot of atheists in this marketplace, that are still religious because they have their faith based on something that may or may |
| 63 | 00:15:55,080 --> 00:16:04,530 | not be the real catalyst where my price is going where it's going. And that, to me was a big shock, when I discovered that my faith, that was indicators and the |
| 64 | 00:16:05,040 --> 00:16:19,050 | use of them wasn't needed. At least for me, it wasn't needed. And it provided clarity when I removed them from the chart. And I take a step back all the time. |
| 65 | 00:16:19,410 --> 00:16:28,230 | And I try to think about how I'm going to present this in a way where I won't offend someone, because invariably, I'm going to offend a group of listeners or |
| 66 | 00:16:28,230 --> 00:16:37,380 | viewers. It's not my intent. Okay, my intent is for you to just think about it for a moment and think about how this may or may not be true for you. But when I |
| 67 | 00:16:37,380 --> 00:16:46,230 | took away the indicators, it was scary for me because I felt like I was blind. Like I didn't know what I was doing. I was trying to drive in the dark, with no |
| 68 | 00:16:46,230 --> 00:17:00,810 | light. That's scary, right? So what it took for me to grow in trading naked, with nothing on the chart new indicators whatsoever. I had to understand why I'm |
| 69 | 00:17:00,840 --> 00:17:12,360 | even anticipating a specific price move in the first place. So I'm looking for reasons why the market should go higher. Okay. Why should it go higher? While |
| 70 | 00:17:12,360 --> 00:17:23,040 | the market has gone to a specific level, it's shown a willingness to go higher. It's punished those individuals that have already tried to go long. And there's |
| 71 | 00:17:23,070 --> 00:17:34,260 | a area where traders that would be profitable as the market dropped, where would they have their stop loss? And I started thinking about the market from a |
| 72 | 00:17:34,500 --> 00:17:47,160 | cannibalistic stance, how can I devour the less informed traders? That that was the mindset. So instead of going in and looking at price action with indicators |
| 73 | 00:17:47,160 --> 00:17:57,270 | over the chart, I started thinking about where are all the traders out there right now in the marketplace? Where would they have an order resting whether to |
| 74 | 00:17:57,270 --> 00:18:11,880 | get in the market? Or gadelle? Where would they have a protective stop loss. And the logic that most retail books would promote is this is resistance. So |
| 75 | 00:18:11,880 --> 00:18:19,650 | therefore, as the market drops, where would be the easiest place to place a protective buy, stop protecting your position, it would be above these highs. |
| 76 | 00:18:20,160 --> 00:18:30,030 | That's exactly what every person that does any kind of retail level trading when you first get into the marketplace. That's the first lesson they learn. That's |
| 77 | 00:18:30,030 --> 00:18:42,090 | the that's the first sip of the Kool Aid that poisons your entire outlook on price. I do the same thing. I'm guilty of that too. And it's hard to believe |
| 78 | 00:18:42,090 --> 00:18:56,310 | that they would allow all these books out there with all this misinformation, but yet they do. misinformation in the hands of someone that's reckless, can |
| 79 | 00:18:56,310 --> 00:19:09,510 | cause blown accounts. I've done that. Depression, I've experienced that. repeated failure, I've experienced that as well. That changed when I stopped |
| 80 | 00:19:09,510 --> 00:19:22,620 | forcing my treasured authors and mentors who I had foolishly placed faith in because they showed me static examples that they didn't actually trade |
| 81 | 00:19:22,620 --> 00:19:34,860 | themselves. So there's a limitation in terms of what you can learn from someone, even me if I would have never started doing what I'm doing here. Or when I was |
| 82 | 00:19:34,860 --> 00:19:42,570 | doing mentorship and showing my students daily, like you're getting the experience of right now on Twitter. Stop asking me to join because I'm doing it |
| 83 | 00:19:42,600 --> 00:19:50,430 | for free. Right in front of everybody. Everybody's here listening. Everybody's able to watch my tweets, okay? That's the mentorship you're all part of it when |
| 84 | 00:19:50,430 --> 00:20:00,030 | you go there. It didn't cost you anything but the time invested. But it's going to take you time to divulge or for me to divulge everything that is that I I |
| 85 | 00:20:00,030 --> 00:20:08,010 | want to cover and I think a minimum reasonable expectation in terms of time is a full calendar year because there's seasonal tendency to come in the marketplace. |
| 86 | 00:20:10,620 --> 00:20:23,640 | But you're gonna see a reoccurring theme that repeats itself, that I'm taking your attention to the most important level next. Contrast that with, alright, |
| 87 | 00:20:23,640 --> 00:20:34,830 | we're going to do a market review. And here's, here's the trade I did. I think I got in here. And I poked fun at people that's on YouTube like that. If you've |
| 88 | 00:20:34,920 --> 00:20:45,420 | taken the trade, you'll show that you've taken a trade, why wouldn't you? Why wouldn't you do that? So it's, it's an unfortunate thing, that we as new |
| 89 | 00:20:45,420 --> 00:20:57,000 | students, new traders in development, and I was like that 1992 We place a great deal of faith on logic that we've not proven ourselves. And we've not seen the |
| 90 | 00:20:57,090 --> 00:21:07,950 | teacher themselves, prove that they understand that as well. So one of the things that I set out to do as a trader is figuring out why the market should go |
| 91 | 00:21:07,950 --> 00:21:18,750 | where it's going to go next. There's lots of things that you can use, even from a retail traders perspective, to get into a trade. Getting into a trade is easy. |
| 92 | 00:21:19,170 --> 00:21:30,780 | Understanding why you're getting into that trade is more significant. And more important than just checking down real quick. It's also permanent, your video |
| 93 | 00:21:30,780 --> 00:21:31,410 | isn't frozen. |
| 94 | 00:21:39,510 --> 00:21:50,220 | So knowing why the market should go where it's going to go next, with a great deal of probability statistics behind the faith that you hold in that price |
| 95 | 00:21:50,220 --> 00:22:03,360 | movement, painting out on your chart, what's the logic behind that? days, weeks, months of back testing, forward testing and tape reading, you can't become |
| 96 | 00:22:03,630 --> 00:22:17,160 | precise with your trading. Without doing that, no trader, no mentor, no teacher, no course No. Program, no blackbox thing that you can follow that gives you |
| 97 | 00:22:17,160 --> 00:22:27,600 | signals, none of that is going to bridge the gap between you trusting in the core being of who you are, the thing that you're doing and risking potentially, |
| 98 | 00:22:27,600 --> 00:22:40,350 | if you ever decide to do this with real money, you have to have the faith that no person no other teacher other influence can remove your faith in what you're |
| 99 | 00:22:40,350 --> 00:22:51,360 | doing. Because you've done it, you've handled it. So when I set out to figure out what it is I'm looking for in price action, I wanted to target and victimize |
| 100 | 00:22:51,990 --> 00:23:01,470 | the less informed traders, because I was tired of being one of them. And I, I took that anger and that resentment I had all the time, the money, I invested in |
| 101 | 00:23:01,470 --> 00:23:13,200 | things that weren't able to be profitable for me. Blown accounts, failed continuously, and couldn't find traction. So I was looking for a way to take |
| 102 | 00:23:13,200 --> 00:23:25,950 | away all those things that I discovered. Were the very vices that caused me to put this unrealistic expectation on myself that I had to be right. I had to be |
| 103 | 00:23:25,950 --> 00:23:33,150 | right about the direction, yes. But I had to be right about the market to which one was going to trade. Because I was a commodity trader when I first started |
| 104 | 00:23:34,650 --> 00:23:46,170 | and what timeframe would I trade on? I to be right about all those things, folks, just like you are, you're holding yourself to the flame. If you don't |
| 105 | 00:23:46,170 --> 00:23:58,890 | know what you're doing, you get too close to the flame and it burns you. So I have to take away all the distractions in my perception about price and focus on |
| 106 | 00:23:58,980 --> 00:24:11,340 | where's the pain going to be? Where's the pain? Where are those bull's eyes that are sitting in the marketplace, there's the stops above the marketplace, there's |
| 107 | 00:24:11,340 --> 00:24:21,600 | buy stops this is by sight liquidity. This is by stocks that are pending, their orders are sitting there. I don't need a heat map. You know, gimmick thing that |
| 108 | 00:24:21,600 --> 00:24:29,820 | some brokers offer? I don't need to look at level two. I don't need to look at a DOM depth of market. I don't need to look at any of those things. I have 30 |
| 109 | 00:24:29,820 --> 00:24:39,510 | years behind me knowing that this is where everybody's gonna have their thoughts. This is where everyone's gonna have their religious faith placed on |
| 110 | 00:24:39,510 --> 00:24:46,530 | their system, their pattern, their approach their indicator, whatever it is they're using. And that's why the markets gonna go there because there's real |
| 111 | 00:24:46,530 --> 00:25:00,450 | orders. The market is not aware the algorithm has no idea about harmonic patterns or supply and demand zones. Okay, that's not how these markets Book, |
| 112 | 00:25:00,900 --> 00:25:13,710 | the price generates movements, and price runs based on the first premise of time. And if it's not the correct time of day, day of week, it's not going to |
| 113 | 00:25:13,710 --> 00:25:25,380 | deliver a specific way. Whether it be bullish or bearish in certain times the markets are predisposed to go into consolidation and range bound. That's an |
| 114 | 00:25:25,380 --> 00:25:34,440 | important factor of understand why time is a crucial element to knowing what you're learning here. This is algorithmic theory. I'm not teaching you classic |
| 115 | 00:25:34,440 --> 00:25:44,400 | chart patterns. In fact, I will show you how those chart patterns fail when they're going to fail. Fake bull flags, fake inverted head and shoulders, |
| 116 | 00:25:45,540 --> 00:25:53,220 | triangles, you know, in the books, they tell you, once it breaks out of these triangles, these wedges, then you go in the direction of the breakout, I don't |
| 117 | 00:25:53,220 --> 00:26:05,190 | like that, because I fell victim to that. And to me, it's guessing it's equivalent to the people that you see on social media, they'll draw a level line |
| 118 | 00:26:05,220 --> 00:26:10,800 | going up, if they think it's gonna go up, it's gonna go here. And if it's gonna go down, it's gonna go down here, I don't do that, I tell you exactly where it's |
| 119 | 00:26:10,800 --> 00:26:23,040 | gonna go next. If I don't know that, I'm saying nothing, I'm staying silent. And there's nothing wrong with that. Because it's about being profitable, or not |
| 120 | 00:26:23,040 --> 00:26:32,040 | being right, if I wanted to be right, my pursuit of being right, was the reason why I'm even teaching, I'd be tweeting 1000 times a day telling you the very |
| 121 | 00:26:32,040 --> 00:26:41,070 | next one minute or five minute bouts of liquidity to be reaching for, or inefficiency it would be reaching for, I could do that could drive me nuts. But |
| 122 | 00:26:41,070 --> 00:26:47,100 | that's not the point. The point is, I want you to understand how to take everything off your chart and look at the market the way the algorithm that |
| 123 | 00:26:47,130 --> 00:27:02,640 | books price. I have floor traders in my community. Now these folks, they were on the floor open outcry, you guys screaming, seven five, give me five give me |
| 124 | 00:27:02,670 --> 00:27:13,980 | they're they're the they're in the trenches, or they were now electronic trading there dinosaurs. Now it was a lot for them to transition. And some of them were |
| 125 | 00:27:13,980 --> 00:27:24,030 | unable to transition from that way of trading into electronic trading. There's a field that you get down on the floor, that the students that I listened to that |
| 126 | 00:27:24,030 --> 00:27:32,490 | were floor traders, they would they would tell you they would you'd see the tide turning. They don't have a chart in front of them. They got they have the number |
| 127 | 00:27:32,490 --> 00:27:41,550 | they have the orders coming in, where they have to work with the actual orders coming in the marketplace. So that was the first clue to me. And I learned this |
| 128 | 00:27:41,580 --> 00:27:54,900 | idea from Georgia and gel. Okay, he's a, he's an author wrote a bunch of books about trading, specifically the s&p. And I liked more about the things he |
| 129 | 00:27:54,900 --> 00:28:06,000 | remarked about that were not that many, really. But when he talked about being a floor trader, and as expected experiences being donor, and how they would sense |
| 130 | 00:28:06,000 --> 00:28:14,880 | that the turn of the tide, where the direction would change in the marketplace, based on the order flow coming in the fevered pitch of how much action was |
| 131 | 00:28:14,880 --> 00:28:24,720 | coming in and didn't need to see a chart. And I started thinking myself, if these floor traders are making their money without a chart, and they're |
| 132 | 00:28:24,780 --> 00:28:36,390 | interpreting the future price fluctuations, based on the orders that are coming in, that means that I should be able to visually see where these orders are. |
| 133 | 00:28:37,380 --> 00:28:47,580 | Wave before a floor trader even reacts to what would naturally be what, when this high in this high here is taken out here and you know what's gonna happen, |
| 134 | 00:28:47,580 --> 00:28:58,290 | it's gonna be a flood of orders coming in. There's gonna be a fevered pitch, the markets gonna be inundated with market orders coming in because these by stops. |
| 135 | 00:28:59,340 --> 00:29:09,510 | Once they're activated, they become market orders. In that intensity, that number, that number of contracts that are coming into the marketplace that are |
| 136 | 00:29:10,050 --> 00:29:27,570 | being exchanged, that's predictable. When it's down here, it's here, here and here. Even down here if you look at my tweets this morning, I mentioned that |
| 137 | 00:29:27,570 --> 00:29:35,340 | there was SMT divergence. Some of you probably thinking, Okay, what is that? I'm going to show you an indicator. Okay, this is one of my top secret indicators. |
| 138 | 00:29:36,270 --> 00:29:56,460 | Really. Look at that. That's crazy, right. This is not oversold. This is just simply the price on a line chart on the low of the NASDAQ. Okay, you can create |
| 139 | 00:29:56,460 --> 00:30:03,120 | this on trading view. If you're using trading view up in the upper left In quantum, there's a little plus symbol. If you click on it, it'll give you the |
| 140 | 00:30:03,120 --> 00:30:17,430 | opportunity to add a another instrument. So this chart here above is the E Mini s&p futures contract. And all I did was compared to the NASDAQ. comparably, and |
| 141 | 00:30:17,430 --> 00:30:26,490 | I clicked on new paint, new paint puts it down here, it's plotted on the closing. And I'm sorry, it's plotted on the low on a line chart, when you first |
| 142 | 00:30:26,490 --> 00:30:34,830 | open this up in the overlay like this and compare, it defaults to the closing price, you don't want that. So when you're bullish, or if I'm bullish, I'm |
| 143 | 00:30:34,830 --> 00:30:43,860 | comparing and contrasting the relationship between the lows of the s&p versus the lows of the NASDAQ. And you can see how we were going below these lows here, |
| 144 | 00:30:43,890 --> 00:30:52,770 | drop down here, but we didn't see that same thing occurring. Down here, we had higher lows forming in the NASDAQ. That's SMT. I mentioned that this morning in |
| 145 | 00:30:52,770 --> 00:31:02,310 | my first two. So there's the coupling in the stock indices. And there's s&p Divergence at the lows on September, I'm sorry, I'm on the s&p here. And that, |
| 146 | 00:31:02,310 --> 00:31:20,310 | oh, the NASDAQ. So that set the stage for the manipulation aspect, that I felt that was worth taking on the risk of going long. So if I'm seeing price, not an |
| 147 | 00:31:20,310 --> 00:31:33,990 | indicator, that's all this is, I'm comparing actual price action of closely correlated markets. I'm looking at the relationship of yours. decades of |
| 148 | 00:31:33,990 --> 00:31:36,690 | experience looking at when this occurs |
| 149 | 00:31:38,339 --> 00:31:47,219 | around the opening at the opening bell at 930. In the morning, New York time, if I see that, and there is something like this existing in price action, which is |
| 150 | 00:31:47,219 --> 00:31:59,639 | these relative equal highs, that's a smooth area in price action, the market does not like to leave smooth edges. Now by itself, doesn't mean much at all. |
| 151 | 00:31:59,669 --> 00:32:12,689 | But when you couple that with the fact that the market's been going down. And then as this is going lower here, we've taken out a smooth area here. This is |
| 152 | 00:32:12,689 --> 00:32:22,889 | going to be viewed as what in retail mindset support, right? And then when breaks through it, traders that would look for this level here as support. And |
| 153 | 00:32:22,889 --> 00:32:31,979 | they don't want to trust that there's going to go higher there, they expect it to break. They want to see that support broken turn, what resistance. So how are |
| 154 | 00:32:31,979 --> 00:32:40,979 | they going to be right about their trade, they're going to wait for it to come back up into this level here. And they're going to try to go short to the |
| 155 | 00:32:40,979 --> 00:32:52,439 | traders that are in the market up here, short there, right, if that never goes back up to this level here. I'm not worried about being right or wrong. I'm |
| 156 | 00:32:52,439 --> 00:33:10,139 | looking to devour, to consume, the less informed traders and they're willingly laying their necks, on my blade. They're willfully walking into the crosshairs |
| 157 | 00:33:10,439 --> 00:33:21,179 | of how I trade. They're not aware of me. And they're not aware of you as my students that internalize the market like this. They're just looking at their |
| 158 | 00:33:21,179 --> 00:33:30,779 | patterns, they're looking at their indicators, they're looking at the things that their religion says should equate to profitability. And when none of that |
| 159 | 00:33:30,779 --> 00:33:41,729 | stuff has any bearing on why price has gone, where it's going. And it's easy to convince yourself like it did mean when I had well, very few opportunities where |
| 160 | 00:33:41,729 --> 00:33:53,459 | it panned out in my favor using specific indicators. And I know this lesson painfully because I'm preaching you what it was that I discovered how I was |
| 161 | 00:33:53,459 --> 00:34:03,119 | won't because when I was doing it with these indicators and the Mark was predisposed go up anyway, I was only focusing on being long trader, I didn't |
| 162 | 00:34:03,119 --> 00:34:12,299 | understand going short. That idea of only focusing on being a buyer when the market is likely to go up. Well, it stands to reason that's the only reason why |
| 163 | 00:34:12,299 --> 00:34:22,139 | my trade p&l had nothing to do with the indicator had nothing to do with a price pattern. It was the fact that the market is going to go anyway. So the |
| 164 | 00:34:22,139 --> 00:34:38,639 | realization I had one day sitting in gunpowder State Park in a hammock looking out reading how I was trying to do something enforcing correct outcomes, |
| 165 | 00:34:39,149 --> 00:34:50,789 | avoiding incorrect outcomes. Here's your bias out of this mentioned by the way. It's one of those cherry picked moments. The the necessity of holding on to |
| 166 | 00:34:52,049 --> 00:35:04,739 | right or wrong as the outcome versus Am I making money? Am I consistently able to find As a way of harvesting, taking money out, and the only way you're going |
| 167 | 00:35:04,739 --> 00:35:13,889 | to be able to be assured that that's going to continue week after week, daily, every single time you sit in front of charts that that opportunity is presenting |
| 168 | 00:35:13,889 --> 00:35:28,289 | itself is understanding liquidity. Because if you don't understand liquidity, liquidity is the orders at rest above highs by side liquidity by stops or below |
| 169 | 00:35:28,289 --> 00:35:45,059 | lows, which is sell side liquidity sell stops. Understanding who's going to be targeted next, why should they be targeted next? So I don't want you as my |
| 170 | 00:35:45,059 --> 00:35:54,539 | student if you're new, or if you've been here for a while. And some of my students communicate grief in their results. In their tweets, they'll say, oh, |
| 171 | 00:35:54,569 --> 00:36:07,349 | you know, I messed up any almost flogged themselves publicly in a tweet. And I know why subconsciously. We as humans like to do those types of things. You're |
| 172 | 00:36:07,349 --> 00:36:16,739 | looking for the community, or maybe even me as the educator, the mentor, the hero that you looking at me as a witch, I'm not sure. You want me to coddle you. |
| 173 | 00:36:17,069 --> 00:36:27,209 | You want me to give you a pat on the back and say, don't? Don't worry, you know, you'll learn how to do this one day. And that's not how you are supposed to be |
| 174 | 00:36:27,209 --> 00:36:39,779 | doing it. You never ever record anything negative, whether it be a tweet, or in your journal, or in your notes, or vocalize it. Because your subconscious is |
| 175 | 00:36:39,779 --> 00:36:52,139 | going to remember that painful moment. And that's the very thing that anchors to the reason why you're fearful of being incorrect. Think about it. Social media |
| 176 | 00:36:52,169 --> 00:37:09,959 | has created a firestorm of that. Everybody's responding to what stimuli? If you don't like me, I don't like you that type of thing. Right here. There's your |
| 177 | 00:37:09,959 --> 00:37:20,789 | buyside. Next, let me make sure I haven't. Sorry, getting lost in my discussion. So there's buyside recording at 4041 50. |
| 178 | 00:37:26,490 --> 00:37:40,290 | So you're not trying to you're not trying to be liked by everybody. I don't feel bad when I win. And someone lost, I don't have any concern for that. Because |
| 179 | 00:37:40,290 --> 00:37:51,630 | when you open up a trading account, you understand the same risks that I did when I opened up mine. So if you lose money, whose fault is it? Yours when I |
| 180 | 00:37:51,630 --> 00:38:02,460 | lose money, whose fault is mine. But that problem of balancing and being responsible with the risk as a new student, as a new trader, it's easy for |
| 181 | 00:38:02,460 --> 00:38:14,160 | someone to say, well, those brokers did it to me. And sometimes that's true, especially if you're trading Forex. But when you're trading a futures market, |
| 182 | 00:38:14,670 --> 00:38:28,680 | where it's it is what it is, everybody has the same high low. It's a it's a pure, medium. But you're still going to be haunted and plagued by the desire to |
| 183 | 00:38:28,680 --> 00:38:41,880 | be right, because you think being right. is safe. No one can judge you. If you're right, you should have made money. But how many times have you watched |
| 184 | 00:38:41,880 --> 00:38:48,300 | the charts and been right that you didn't have a trade on? So you can't argue that's the reason why it's important for you to be right. Because you're not |
| 185 | 00:38:48,300 --> 00:38:57,300 | even making any money when you're right. Or even if you place a demonstrate you didn't make any money, you can't go buy groceries with that. So are you still |
| 186 | 00:38:57,330 --> 00:39:08,580 | doing things properly by placing the emphasis on being correct or right versus profitability. So you have to peel that onion back and get all the dead layers |
| 187 | 00:39:08,580 --> 00:39:18,450 | off of things that you're worrying about, which is normal. Everybody's done it. Everybody will do it continuously in the future. After I'm long gone, people |
| 188 | 00:39:18,450 --> 00:39:29,370 | that will come into this industry, they're still going to have the same problems that plagued them fearful about doing it wrong. And it's normal. You know what |
| 189 | 00:39:29,370 --> 00:39:37,920 | it was like when you made the mistake of telling your spouse, your friends or coworkers? Whomever, that you're getting ready to start learning how to trade |
| 190 | 00:39:38,460 --> 00:39:47,670 | and they probably gave you every reason why you shouldn't do it, right. Oh, man, you're gonna lose your rear end. I know a guy that lost. That's the first thing |
| 191 | 00:39:47,700 --> 00:39:55,470 | that's the first thing that I'm telling you. And what are you going to remember that? And all you wanted to do was share your excitement about wanting to learn |
| 192 | 00:39:55,470 --> 00:40:06,810 | something new in the well. Here's a news As for you, your family and friends, they don't really want to see you succeed, to stop inviting them into your |
| 193 | 00:40:06,900 --> 00:40:20,010 | business. They have no business and sharing the spoils and your victories. They didn't work for it, they didn't take the risk that you're doing. They're not |
| 194 | 00:40:20,010 --> 00:40:28,050 | putting in the work that you're doing, stopping, stop inviting them in the conversation, because they're only going to bring in their perspective of why |
| 195 | 00:40:28,050 --> 00:40:37,440 | they would never do this themselves. But in your heart, you're thinking, if this works for you, you're going to help them by getting them on the same page. No, |
| 196 | 00:40:37,620 --> 00:40:45,690 | it's not a team sport. If they want to do it, and then when you succeed, trust me, you will have to beat them off you with a stick, because they're gonna be |
| 197 | 00:40:45,690 --> 00:40:54,360 | bothering you constantly, hey, can you do this? Can you help me? Can you trade my account for me, and my family members do that all the time. I have family |
| 198 | 00:40:54,360 --> 00:41:06,660 | members that I cannot help out, give them money, I bought homes for them, they still lose everything. You can't help some people in this industry. If you are |
| 199 | 00:41:06,660 --> 00:41:14,790 | by yourself, even though you may be mentored by someone like me or someone else that's equivalent, that's well, meaning in terms of trying to protect you from |
| 200 | 00:41:14,790 --> 00:41:25,560 | yourself, knowing what it's like to do the wrong things. And also guiding you away from unrealistic expectations. Because you're expecting to be right all the |
| 201 | 00:41:25,560 --> 00:41:37,920 | time, never wrong. And even if you're wrong, that's gonna be when you're in demo, not with your Live account. That's unrealistic. You need to have a |
| 202 | 00:41:37,920 --> 00:41:49,680 | disconnect, from the equation of right or wrong. It's about being profitable. In the number one thing you want to do is focus on removing all those distractions. |
| 203 | 00:41:50,490 --> 00:42:07,530 | In the first one in that is social media. your Instagram, your Twitter worships your Facebook's, whatever it is, whoever you're worshiping, whoever you're |
| 204 | 00:42:07,530 --> 00:42:14,340 | following along and lifting up on a pedestal. And this is why I strike down. Everybody says, I'm the greatest of all time, that goat King, I can't stand |
| 205 | 00:42:14,340 --> 00:42:29,100 | that. I'm not. I'm just the guy that's been blessed with this information, and I'm trying to help you with it. I want you to do well. But you have to make |
| 206 | 00:42:29,100 --> 00:42:40,140 | decisions along the process, that either you're going to listen to everything I'm saying, or the results that you're aiming for are going to be skewed. And |
| 207 | 00:42:40,140 --> 00:42:48,090 | that's exactly what I get from students. Some of my hardline critics are students of mine, that failed themselves, not because my concepts don't work |
| 208 | 00:42:48,090 --> 00:42:56,820 | because they themselves had the wrong mindset. They're impatient, they expected something that was unrealistic. And they didn't do the things I tell them to do. |
| 209 | 00:42:58,800 --> 00:43:08,790 | Which is what I'm putting all of you through this year. And some of you have seen that it's a lot more work than you thought it was going to be. Some of the |
| 210 | 00:43:08,790 --> 00:43:20,910 | folks that started this very first video the year in 2023 first mentorship video, big huge list of views to get some views on some 1000. Other as the |
| 211 | 00:43:20,910 --> 00:43:31,800 | videos would go up, less viewership less viewership, because they can't perform. They don't have the wherewithal to do it. Because inside their mind, they're |
| 212 | 00:43:31,800 --> 00:43:42,840 | thinking, I was expecting this to be easy. And it takes them back to that fear of being right or wrong. If it's this hard, I'm probably going to be wrong. And |
| 213 | 00:43:42,990 --> 00:43:56,400 | we're ICT himselves, you know, scammer because he has rental properties. And, you know, he probably sleeps there to know. You're gonna have everybody and |
| 214 | 00:43:56,400 --> 00:44:07,770 | everything give you perfect excuses why you shouldn't do this. If you're swayed by that you're not a trader. Because you come hell or high water. Someone that's |
| 215 | 00:44:07,770 --> 00:44:18,120 | really dug their heels in and says themselves, I already know this is going to be hard. Already know it's going to take longer than I probably want to be. But |
| 216 | 00:44:18,120 --> 00:44:26,760 | I've seen enough to know that this is exactly what I want to do with my life. I want to pursue this. And I want to master myself notice I said Master myself and |
| 217 | 00:44:26,760 --> 00:44:40,230 | not master the markets. I have not mastered the markets. And I will never mess with the markets. How's that for a reality check? Now I'm pretty precise. I'm |
| 218 | 00:44:40,230 --> 00:44:46,770 | pretty consistent. I can see certain things in the marketplace. And I'll demonstrate that for years. And my students are able to do that as well. None of |
| 219 | 00:44:46,770 --> 00:44:54,450 | us are mastering the market. The only thing we can do is master ourselves and how do we do that? Number one, we wrestle with the idea and we hold it at bay. |
| 220 | 00:44:54,690 --> 00:45:09,870 | The idea or notion that we have to be right right is not always profitable. And wrong is not always unprofitable. There's many times I'll get in to a trade. And |
| 221 | 00:45:09,870 --> 00:45:17,250 | I expect a specific thing to be reached for, like, for instance, we're staring at right now the 4041 and a half level. I liked the idea that trading up there, |
| 222 | 00:45:17,250 --> 00:45:25,890 | but it might require going over lunch hour before it does it. Or it might just shoot up air while I'm talking to you. It doesn't make a difference to me. I'm |
| 223 | 00:45:25,890 --> 00:45:34,950 | not in the trade. But it's an expectation I have. So if I placed that in front of you, you're all watching me live. If I say I believe that 4041 and a half is |
| 224 | 00:45:34,950 --> 00:45:45,990 | likely to be traded to today. And it doesn't, what did I lose? Nothing. For some of you, you think, Ah, you got that wrong? And you'll overanalyze? How did you |
| 225 | 00:45:45,990 --> 00:45:55,320 | get that wrong? Here's what he didn't see. And you'll bring all your retail stuff as to why I should have trusted that versus what I've been doing for 30 |
| 226 | 00:45:55,320 --> 00:46:05,250 | years. I don't care about the opinion of other people. That's not going to change my perspective on how I teach what I use what my students make money |
| 227 | 00:46:05,250 --> 00:46:16,560 | with. They're not looking at their bottom line and thinking how many times they were correct, and how many times they were incorrect. They're looking at their |
| 228 | 00:46:16,560 --> 00:46:27,900 | bottom line growing. And that's why you're here. If you don't like me, as a person, I don't give you fashion tips. I'm here showing you lifestyle stuff. |
| 229 | 00:46:28,380 --> 00:46:36,270 | You're here because you know that I'm showing you something that repeats. And that's exactly why I want you here. That's it. You're not gonna have dinner with |
| 230 | 00:46:36,270 --> 00:46:49,890 | me, I'm not going to come over your house. I'm in your house every day, but I'm not going to visit you. Your relationship with me is I'm a conduit. I'm a |
| 231 | 00:46:49,890 --> 00:47:00,390 | pathway between where you are right now. And where I know you can be, your visibility may be limited. Because of experience because of doubt. The people |
| 232 | 00:47:00,390 --> 00:47:12,600 | you hang around with, where you came from. All those things are really factors in why you're placing so much emphasis on being correct. And never get it wrong. |
| 233 | 00:47:12,930 --> 00:47:24,060 | That's unrealistic, you need to put it aside and dismiss that. Don't worry about that. That will be an impediment to your development. As long as you hold on to |
| 234 | 00:47:24,060 --> 00:47:26,850 | it. I'm going to put you through drills. |
| 235 | 00:47:29,550 --> 00:47:39,060 | Live Streaming, I'm going to tell you watch this fractal here, watch this move here. Let's see if it goes to this level next. And we're going to record how |
| 236 | 00:47:39,060 --> 00:47:47,730 | much time it took how much drawdown from the time that we would anticipate the move beginning until it trades there or where it goes to a level that would be |
| 237 | 00:47:48,270 --> 00:48:00,240 | no longer valid for that price round. For those of you that are listening, you're thinking, that's it. ICT has given us a secret signal. Okay, that's the |
| 238 | 00:48:00,240 --> 00:48:12,120 | buy and sell that we're looking for. If you do that, if you do that you are cheating yourself of a learning experience that you cannot get otherwise, when |
| 239 | 00:48:12,120 --> 00:48:23,970 | you don't do it with money. If you place a trade based on the things I'm saying when I'm doing live streams, you're ignoring the benefit that's available by you |
| 240 | 00:48:23,970 --> 00:48:32,160 | not being swayed by the outcome. See if I say I think it's going to go here, and this is what we're watching. We're watching the reaction here, and it should go |
| 241 | 00:48:32,160 --> 00:48:39,930 | here next, and it shouldn't go here. That's enough for someone with reasonable understanding to say, okay, he said, This is where the stock would be. Because |
| 242 | 00:48:39,930 --> 00:48:46,740 | if it goes there, it's no good. And this is where things are gonna go. And he's saying right now is the time it should react. So that's the buy or the sell the |
| 243 | 00:48:46,740 --> 00:48:55,170 | stop and the target. Right? Right. I'm aware of that. But I'm not telling you a signal. I'm teaching you how to read price. And here's what's gonna happen. |
| 244 | 00:48:56,820 --> 00:49:04,080 | Folks are gonna go in there, I'm gonna press a button based on what I'm doing, and it's gonna move and then they're gonna go to my Twitter feed and they're |
| 245 | 00:49:04,080 --> 00:49:10,710 | going to try a High five me they're gonna say thank you ICT I just got my funded account this past that, or I'm getting my first payout because I just took that |
| 246 | 00:49:10,710 --> 00:49:20,490 | tree. I'm not going to like your post. In fact, it offends me because you're not listening to me. That's the number one reason why I refrained from doing these |
| 247 | 00:49:20,490 --> 00:49:31,440 | types of things. Because it's not helping you. As much as you think is that little bit of monetary push. You will not be able to do it on your own. If I |
| 248 | 00:49:31,440 --> 00:49:42,120 | stopped doing it, you're gonna be back at square one of I'm afraid if I do it, I'm gonna get it wrong. versus watching the tape with me live when we do it live |
| 249 | 00:49:42,120 --> 00:49:53,490 | over the charts. Putting aside the the requirement for it to be on a trade that makes money or loses money, because if you're thinking about the money, you're |
| 250 | 00:49:53,490 --> 00:50:07,140 | placing yourselves in the same category that I attack in my trades. When I'm doing my trades, I'll many times annotate sometimes facetiously and say, imagine |
| 251 | 00:50:07,140 --> 00:50:15,780 | you were short here, would you feel comfortable with your stop here. And invariably, it goes right to the area where the stop is. When I'm looking at |
| 252 | 00:50:15,780 --> 00:50:25,230 | these candlesticks, I'm reading the hearts and hopes of traders out there that are just trying to do everything they can to make money with things that will |
| 253 | 00:50:25,230 --> 00:50:33,480 | never deliver that I can never meet them, I can't get them, I can't tweet them, I can't text them, I can't call them I can't send him an email and say, Hey, |
| 254 | 00:50:33,480 --> 00:50:45,540 | you're doing it wrong, let me help you. So I don't have any moral dilemma here. They knew the risks. And when they lose, they'll either learn how to do it |
| 255 | 00:50:45,540 --> 00:50:54,090 | better, or stop trading, either one of those outcomes is favorable. I'm still going to sleep the same way whether those people still have an account after |
| 256 | 00:50:54,090 --> 00:51:09,450 | that loss or not. But you as a developing student, you're placing so much foolishness, on things that are controllable. And you're not placing emphasis on |
| 257 | 00:51:09,450 --> 00:51:22,470 | the things that are requiring a lot more of your time and due diligence, which is studying without any monetary commitment to demo, not even that no tape |
| 258 | 00:51:22,470 --> 00:51:30,330 | reading, what I'm putting you through watching the tape, when I tweet, I say this is the next level. Watch that note that if it's above the marketplace, at |
| 259 | 00:51:30,330 --> 00:51:43,710 | the time I tweeted it, my bias is what bullish I'm expecting it to go up to what zoom no to that level, to that price level. It might squeak through it, that's |
| 260 | 00:51:43,710 --> 00:51:52,950 | fine. But that's the level I want you to be following in watching the tweets go out in the market price that I'm telling you to note on your chart is below the |
| 261 | 00:51:52,950 --> 00:52:07,650 | market price at the time of the tweet, I'm signifying that I believe the next run to be focused on is going down. Isn't that pretty easy. Now, I still get |
| 262 | 00:52:07,650 --> 00:52:20,460 | criticized. And I don't give a rat's rear end. from people that just simply want me to spoon feed them. I am spoon feeding you. I have a 24 karat spoon every day |
| 263 | 00:52:20,460 --> 00:52:31,200 | on Twitter, all you have to do is show up, you have to study the things that are in my videos, you'll see your pattern form, the thing that you're going to be |
| 264 | 00:52:31,200 --> 00:52:43,200 | utilizing to make your trades on your own independent without me saying anything. That will come by you watching the tape, using my experience borrowing |
| 265 | 00:52:43,230 --> 00:52:52,170 | my experience of where I think the markets gonna go next, there's gonna be times when I get it wrong. But that's going to be far less than you would have been |
| 266 | 00:52:52,170 --> 00:53:01,440 | doing it. And it's all I'm suggesting is use it as a crutch. In the beginning, there's no shame in that. No shame at all. There's no shame in learning how to |
| 267 | 00:53:01,440 --> 00:53:12,540 | trade and demo. There's no shame in teaching in a demo. If an educator goes out there and says, Hey, you know, I'm responsible. I don't want to see any of you |
| 268 | 00:53:12,540 --> 00:53:19,830 | hurt. And also I want to protect myself because I'm a licensed trade adviser. I'm not a I'm not a fighter. And I'm a financial advisor. And by talking about |
| 269 | 00:53:19,830 --> 00:53:30,450 | charts like this, there was no button being pushed I'm in fact, I've actually told you not to do it. But the skill set of reading and interpreting price |
| 270 | 00:53:30,450 --> 00:53:38,490 | action. And by doing these exercises and spending time with someone that knows how to deal whether they're doing the demo where they push a button or not. If |
| 271 | 00:53:38,640 --> 00:53:52,710 | the market pans out continuously over time, over time repeats, there's something there that's worth mining. There's some kind of insight that's worthwhile to |
| 272 | 00:53:52,800 --> 00:54:06,930 | extract from that medium or person. And you foolishly place a trade on anything that I say or someone else's and you don't know the logic as to why it's being |
| 273 | 00:54:07,110 --> 00:54:20,850 | considered as a trade. Your attention is not going to be on the things I'm going to say draw reference to, you're going to be watching the profit and loss up and |
| 274 | 00:54:20,850 --> 00:54:27,450 | down as the fluctuations occur, you're going to zone out you're not going to hear the things that's going to be more pertinent to you to know how to do this |
| 275 | 00:54:27,450 --> 00:54:38,700 | independently. Because you're fearful of what the outcome now not being profitable, you're not going to listen to anything else. It's the same thing |
| 276 | 00:54:38,700 --> 00:54:47,370 | that everybody does when they watch a book or join a course. Or they follow somebody that thinks they're the bee's knees and trading and they're talking |
| 277 | 00:54:47,370 --> 00:54:55,650 | about where the markets gonna go next. And you're all out there trying to line up to do trades based on what they whatever they say. You have no idea what made |
| 278 | 00:54:55,650 --> 00:55:06,960 | that person say it's gonna go where it's gonna go in their analysis or their call A signal. To me that's the epitome of gambling, you have no reason why you |
| 279 | 00:55:06,960 --> 00:55:18,810 | should trust that. What's the logic? Contrast that with me, I'm literally trying to explain to you why these price patterns should form, when they should form, |
| 280 | 00:55:19,080 --> 00:55:29,640 | how you can trust them when you know they can fail. And also teaching you in certain instances, there's a environment that you don't want to be taking a |
| 281 | 00:55:29,640 --> 00:55:42,420 | trade in. Because the risks are too high versus the potential reward. That's a skill set that you can't learn from a book. You have to be side by side with |
| 282 | 00:55:42,420 --> 00:55:52,770 | someone. There's no way that isn't, there's literally no way to learn that except for walking hand in hand with someone on a daily basis, a weekly basis |
| 283 | 00:55:52,770 --> 00:56:04,590 | for months, in my opinion, a full year, you'll appreciate managing the risk more appropriately by doing it. And at the end of the year, you're gonna look back |
| 284 | 00:56:04,590 --> 00:56:14,460 | and say, You know what, I'm glad I didn't push myself into trying to trade before I was ready. And I'm confident that there are going to be many of you |
| 285 | 00:56:14,490 --> 00:56:22,290 | that won't listen to what I just said, You're zoning that part out. Because you need to make your ends meet, groceries are more expensive bills are going up |
| 286 | 00:56:22,320 --> 00:56:38,640 | rents, higher gas, electric, natural gas, even eggs 400% increase in egg prices, I get it. But you can't speed up progress. You can't, your progress is going to |
| 287 | 00:56:38,640 --> 00:56:46,890 | be uniquely your progress. And don't measure it against somebody else that you may be seeing do very, very well, you might see someone that you're friends with |
| 288 | 00:56:46,890 --> 00:56:57,330 | online, they came to the same place that you're at right now. They're trying to learn this stuff, great. They may do far better, faster, or give you the |
| 289 | 00:56:57,330 --> 00:57:08,460 | impression of doing it better. And you might think, well, that means I'm not good enough. I'm not a good enough student, I must be slower mentally than that |
| 290 | 00:57:08,460 --> 00:57:19,950 | person or everyone else. I have students that started with me in 2016 paid me money, and learn the same lessons that people that are making money right now |
| 291 | 00:57:21,090 --> 00:57:30,960 | learned that they can't do it themselves. And the common denominator is how much they put into it. What they're holding on to in terms of fear. |
| 292 | 00:57:33,179 --> 00:57:45,389 | Just doubt, and just doing the work and the work is sitting in front these charts and watching price action. You might not be a trader that has the ability |
| 293 | 00:57:45,389 --> 00:57:57,989 | to trade intraday may not be within the realm of well, it's possible for you, you might need to trade a higher timeframe. Don't discount what I'm showing you |
| 294 | 00:57:57,989 --> 00:58:08,519 | because everything that occurs in these one minute charts, is applicable to a daily or weekly, it's the same things, it's just takes a lot more time to pan |
| 295 | 00:58:08,519 --> 00:58:17,939 | out. So there's no reason for you to have these unrealistic expectations about being right or wrong. It's about being profitable in your ability to be |
| 296 | 00:58:17,939 --> 00:58:28,079 | profitable. Once you latch on to whatever it is that I'm teaching that you'd like, it might not be a fair value, it might be an order block. It might be the |
| 297 | 00:58:28,079 --> 00:58:36,659 | breaker, that's your only model you care about trading. That's it. That's your multiplier, that's the thing that you're looking for. Okay, what's wrong with |
| 298 | 00:58:36,659 --> 00:58:47,099 | that? Just because your entry is going to be different from somebody else, you might make less on your trade than the next trader. Is that trader going to give |
| 299 | 00:58:47,099 --> 00:59:02,009 | you any of that profit? No. Is it realistic for you to expect them to do that for you? No. You should be content with enough if all you do this year is |
| 300 | 00:59:02,249 --> 00:59:14,609 | develop a skill set that allows you to reduce some of your overhead costs, living day to day for you and your family. Is that not a success? How many of |
| 301 | 00:59:14,609 --> 00:59:25,469 | you considered that? That was the reason why I made that NS series on my YouTube channel is ground some of you younger folks that are just so worried about going |
| 302 | 00:59:25,469 --> 00:59:35,969 | out there trying to get Ferraris and Lamborghinis and such. They're fun. I get it. But once you own them, everybody knows you have them. Nobody cares anymore. |
| 303 | 00:59:37,559 --> 00:59:43,499 | You're still stuck with the insurance, the upkeep and the worrying about somebody scratching it and you're never going to want to park it somewhere and |
| 304 | 00:59:43,499 --> 00:59:59,969 | walk away from it because those types of things happen. More money more problems. Reverse it and say how can I use this skill set to help remove anxiety |
| 305 | 00:59:59,999 --> 01:00:07,709 | Eddie, whereas right now you're using it as this is the reason why I'm anxious. This is reason why I'm having anxiety because I can't figure this stuff out, |
| 306 | 01:00:08,189 --> 01:00:16,739 | when you need to relax, and understand that not every single moment of the day is an opportunity. And it's not realistic for you to see it. You're still |
| 307 | 01:00:16,739 --> 01:00:31,979 | learning. But being fearful of the outcome is always attributed to because you have money on the line. That's not to say that when you start trading with life |
| 308 | 01:00:31,979 --> 01:00:43,529 | funds should you decide to do so that you shouldn't be concerned about the risks. Yes, you should be. But it shouldn't be paralyzing. I'm about to work |
| 309 | 01:00:43,529 --> 01:00:52,409 | with my son Cameron, I mentioned the day he said he wanted to do a funded account. He watches my videos. And obviously you see the advertisements, people |
| 310 | 01:00:53,699 --> 01:01:05,369 | run ads on YouTube, and he lost his top step thing. I have no affiliation with top step. Okay, I'm just being open with you know, my son said he wanted to do |
| 311 | 01:01:05,369 --> 01:01:13,679 | it. And he does not want to have a Twitter account doesn't want to have a YouTube channel. In fact, frankly, I think that's great. And his words were I |
| 312 | 01:01:13,679 --> 01:01:24,119 | don't care about anybody else like me that if I can make money with it, that's all I care about. How proud how proud was I here to him to say you hear saying |
| 313 | 01:01:24,119 --> 01:01:33,149 | something like that? Because you don't see that as somebody that's selfish and greedy. That's someone that's got it figured out early on. If you're going to do |
| 314 | 01:01:33,149 --> 01:01:40,739 | this, only do it because you want to make money. I don't care who likes me, you shouldn't care. Who likes you? Do you think it's going to matter? When you |
| 315 | 01:01:40,739 --> 01:01:47,999 | figure out what you're doing, and you conquer this fear of being right or wrong, and you're unable to find consistency. It means making and losing money. But |
| 316 | 01:01:47,999 --> 01:01:58,019 | over time, you're making more than you lose, that's trading? Do you think that anybody is going to convince you that you've wasted your time when you start |
| 317 | 01:01:58,199 --> 01:02:07,199 | making money? No, you're not even going to give them the time of day. And the hair, my son say that he's not interested in that. He only wants to make the |
| 318 | 01:02:07,199 --> 01:02:24,599 | money. That's the proper mindset. But, but he admits that he has a fear, which is reasonable of pushing the button, because I can see that fair value gap. But |
| 319 | 01:02:24,599 --> 01:02:38,669 | I'm afraid if I go in, and I push the button that I'm afraid it won't pan out for me. And I don't want that transaction to be painful. And he plays video |
| 320 | 01:02:38,669 --> 01:02:48,719 | games. So he's trained himself conditioned himself into what new high score all the time, new high score all the time, new high score all the time. And that's |
| 321 | 01:02:48,719 --> 01:02:59,759 | fine for video games. But this is not video games. This is financial ruin if you let it happen. So it's important for you to understand there are times when |
| 322 | 01:02:59,999 --> 01:03:14,909 | right or wrong is important. But right or wrong isn't terribly important while you're learning. You need to learn how to balance that. And one of the things |
| 323 | 01:03:14,909 --> 01:03:25,139 | that I'm going to teach him, and I'm going to teach you all as a result of being a part of the program with my son being a developing trader is that I'm going to |
| 324 | 01:03:25,139 --> 01:03:41,399 | put him in to situations where I desensitize him. And I was afraid of putting on trades like that too. And hearing it come from my experiences. It only has so |
| 325 | 01:03:41,399 --> 01:03:55,439 | much help. So I have to show him how to desensitize yourself from fear of doing it wrong. We will be doing live streams. I will be thinking about this because I |
| 326 | 01:03:55,439 --> 01:04:03,689 | know there's people out there saying I do this all the time. I do reset my account for other reasons. But this is the this is the demo account I showed you |
| 327 | 01:04:03,689 --> 01:04:16,079 | guys the other day, I saw some joker say oh, he blew his account. That's why he's talking about something else. He screwed this up here. Not tweeted. You can |
| 328 | 01:04:16,079 --> 01:04:30,239 | see all the dates and stuff here. So I'm in two trades. This is nothing it's paper trading. It's a stupid, okay. But I'm going to reset this account. Okay, |
| 329 | 01:04:30,449 --> 01:04:40,079 | to 50,000 because I'm going to be working with my son Cameron. He wants to get a $50,000 top step funded account. That's his goal. That's what he wants to do. He |
| 330 | 01:04:40,079 --> 01:04:53,519 | works a job. I make him work a job. And it's important for him to make his own money. If I just dole out money to him, which is what I've done with one of my |
| 331 | 01:04:53,519 --> 01:05:07,589 | children, and it did not it did not help to make things worse. So now because of that experience, I don't have the the shame and guilt that I felt by having a |
| 332 | 01:05:07,589 --> 01:05:16,349 | lot of money and not giving it to them like I wanted to do when I was younger man. By making them work for it, it conditions them. It's work hardening, it's |
| 333 | 01:05:16,349 --> 01:05:29,249 | important. That's what gave me the work ethic that I have mail. But he has this fear of doing it wrong, because he's viewing it like a video game. Because in |
| 334 | 01:05:29,249 --> 01:05:40,229 | this if you lose your account, unless you have more money to put into the account, or reset with these found that accounts, I think that's what they call |
| 335 | 01:05:40,229 --> 01:05:47,759 | it, resetting it. It's something like well network, if you blow the account, challenge, whatever, you pay another fee to start it up again. So if it's not |
| 336 | 01:05:47,759 --> 01:06:02,849 | reset, I'm saying it wrong, I apologize. But he doesn't want to fail and do it wrong. And it's in his head about pushing the button. So I'm going to teach him |
| 337 | 01:06:02,849 --> 01:06:12,869 | how to desensitize himself, I'm physically going to be on live stream, you'll hear me talking to him. Now, I'm not going to do it daily. But I'm going to |
| 338 | 01:06:12,869 --> 01:06:26,429 | force him and you all have the benefit of hearing me, tell him exactly this is my flesh and blood. This is the the the sun that was given to me on Valentine's |
| 339 | 01:06:26,429 --> 01:06:38,459 | day That day, I was married to my wife supposed to be born on March 5, but the Lord seen fit to give it to him, Give us him that day, which is great. But I'm |
| 340 | 01:06:38,459 --> 01:06:50,459 | not going to give him advice that I don't wholeheartedly subscribe to. So that way you can trust the things that I'm teaching you. I'm talking to him right |
| 341 | 01:06:50,459 --> 01:07:01,499 | now, this entire discussion has been to him that you think I'm talking to you. All of my videos are to the My children. And when you watch us, and listen to me |
| 342 | 01:07:01,499 --> 01:07:12,599 | and him engage over live data. And I'm trying to tell him, do this right now. And tell me what you feel while you're doing it. For some of you, it's going to |
| 343 | 01:07:12,599 --> 01:07:23,369 | be very entertaining. Others, you're going to learn a great deal about yourself and how you see price as it's happening live. And I'm going to try to get him to |
| 344 | 01:07:23,369 --> 01:07:33,179 | be honest. And tell me exactly how he feels in his own words. He may or may not do this because that attorney teams Mr. Macho, you know, teenage boys are |
| 345 | 01:07:34,679 --> 01:07:47,759 | way bigger than I am. He looks like a frickin linebacker on NFL team. But he's a softy at heart. And he doesn't want to be judged. So I believe he has the makeup |
| 346 | 01:07:47,939 --> 01:07:57,479 | in him. If I turn him into a savage, he will be a menace on social media. If any of my kids are going to be like that it would be him. But he's also cognizant to |
| 347 | 01:07:57,479 --> 01:08:09,059 | the fact that he is not there yet he wants to be. But he's also admitted to his father, that he's scared to push the button because he doesn't want the results |
| 348 | 01:08:09,059 --> 01:08:21,179 | to be negative. And he doesn't know what that's going to feel like. Because he's doing it with, quote unquote, potential to make money. Now, this same son of |
| 349 | 01:08:21,179 --> 01:08:31,889 | mine, his only listened to me about trading, he has never sat down ever. Never ever, ever sat down, did it on his own, start the demo account started worked |
| 350 | 01:08:31,889 --> 01:08:44,759 | up, he's never done it, he has next zero experience. So if he get out if he gets out here in live, and he does this in the flounders in the beginning, that's |
| 351 | 01:08:44,759 --> 01:08:56,159 | exactly what it's like, when people do it. It doesn't matter if ICTs is dead. Because he's going to push the button. I'm not pushing the button. So it's a |
| 352 | 01:08:56,159 --> 01:09:06,599 | matter of grinding your way through because if I pass away and he doesn't learn his skill set, then guess what? He's stuck where you are. It's only in the |
| 353 | 01:09:06,599 --> 01:09:21,539 | videos. And I want my youngest son to learn. Like he will hopefully see Cameron do it. And understand that he had fear he had anxiety about performance anxiety, |
| 354 | 01:09:21,839 --> 01:09:36,599 | you know, you want to do it. But you're attributing the failure and success on an individual event or transaction and one trade. And that's what makes this |
| 355 | 01:09:36,599 --> 01:09:45,629 | difficult because not everybody can afford to lose one quarter of 1% No matter what they have in their account. If you can't you shouldn't be trading. Yes, I |
| 356 | 01:09:45,629 --> 01:09:57,269 | said one quarter of 1%. When you're learning how to trade with real money, that's where you start. Not 2% not 1% And the folks that are out there saying |
| 357 | 01:09:58,319 --> 01:10:10,739 | you can't make money with the 50 day doesn't dollar fund that account or a $50,000 trading account? Or with 1%? The same people don't know how to trade |
| 358 | 01:10:10,739 --> 01:10:27,419 | period? Because you're you're basically saying you don't know math? How can someone say that you can't make real money with 1%? Now, are you saying you |
| 359 | 01:10:27,419 --> 01:10:38,279 | can't flip your account every month? Or every three weeks? Risking 1%? Then yeah, I agree that that's a that's a true statement. But you can make six |
| 360 | 01:10:38,279 --> 01:10:50,669 | figures a year, making trades with less than 1%. In terms of risk, I'm not saying you're only making less than 1%. I'm saying to incur risk, or open |
| 361 | 01:10:50,669 --> 01:11:03,869 | yourself up to risk at 1% or less, you can still make six figures a year doing that. How can you do that ICT? It's math, all you're going to be doing is |
| 362 | 01:11:03,869 --> 01:11:10,109 | looking for something that repeats over and over again, you're looking for your cookie cutter. But right now you're afraid that your cookie cutter isn't going |
| 363 | 01:11:10,109 --> 01:11:18,179 | to give you the cookie that you want. That's why you're fearful of it, you have not handled it yet you have not worked with it yet you have not seen it perform |
| 364 | 01:11:18,179 --> 01:11:29,009 | in price data that's live. And it will desensitize you, and remove all that doubt that you have right now. You're fearful that you can't do this, because |
| 365 | 01:11:29,009 --> 01:11:40,019 | you haven't handled it yourself. Most of you are sitting on sidelines and waiting for me to do these live streams, call moves, call this call that. And |
| 366 | 01:11:40,019 --> 01:11:51,929 | then if I do it right most times, then you're gonna take the initiative to do it. Okay, it's fine. That's normal, I guess, in a lot of ways. But there still |
| 367 | 01:11:51,929 --> 01:12:03,659 | will be people that even when I showed them results, they're not going to be willing to do it. Because there's an there's a barrier there. And it's not with |
| 368 | 01:12:03,659 --> 01:12:15,209 | me, it's not what the content or the concepts it's in, it's in them. And you have to press into that, when it feels uncomfortable. That's exactly where the |
| 369 | 01:12:15,209 --> 01:12:28,979 | growth occurs. It's that scary feeling of I see it there. I know it's only a demo, I'm gonna push the button. But I don't want to see the bad result happen, |
| 370 | 01:12:28,979 --> 01:12:36,989 | because it's just gonna make me feel like I'm never gonna learn how to do this. That's exactly what you press into. You press into that moment, right then and |
| 371 | 01:12:36,989 --> 01:12:50,549 | there. There it is. And you log the experience, without having any of the negative self talk. You always positive self talk, you find the silver lining |
| 372 | 01:12:50,549 --> 01:12:57,839 | and everything and you record that in your journal, you record that in your charts in your annotations, you never emotionally charged it with a negative |
| 373 | 01:12:58,949 --> 01:13:10,319 | link to a bad reaction or regret. Because your subconscious remembers that. And it will be an impediment to you pushing the button when you need to in the next |
| 374 | 01:13:10,319 --> 01:13:17,819 | trade that will be perfect that you will be thinking and beating yourself up mentally in social media invites us to do those types of things. |
| 375 | 01:13:23,790 --> 01:13:35,910 | You don't want to do those things. As a trader, you want to guard your mind, filter in only positive. If anybody out there is toxic, they should be removed |
| 376 | 01:13:35,910 --> 01:13:44,970 | from your attention. If I am a distraction to your trading, don't follow me on Twitter. If you already know how to trade and you had to use my concepts, the |
| 377 | 01:13:44,970 --> 01:13:52,770 | worst thing you could do is listen to me on Twitter because I might be looking at a setup that will be contrary to yours. And I have students have done this. |
| 378 | 01:13:54,270 --> 01:14:01,800 | Man, I wish I never would have saw that tweet because it made me second guessing my trade that I'm in a larger timeframe. And I got out too early. And I would |
| 379 | 01:14:01,800 --> 01:14:11,430 | have made this much more. Yeah, whose fault is that? It's not my fault I'm teaching. I'm not aware of your trade. So you need to be responsible with your |
| 380 | 01:14:11,760 --> 01:14:22,170 | actions or inactions and own the results. If it's good, you earned it. If it's wrong and you did something incorrect, and you have an adverse reaction. You own |
| 381 | 01:14:22,170 --> 01:14:33,570 | that too. There's nothing shared in trading. I have students that are making real money. They're not sending me parts of their winnings because they feel |
| 382 | 01:14:33,570 --> 01:14:48,330 | like they owe me something they earned that when you do this work, you get all the results and you own it good or bad. But being fearful of the outcome is |
| 383 | 01:14:48,330 --> 01:15:01,740 | rooted in you not knowing what it is you're trying to do. And you're trying to make that like a boogeyman scenario. Like You're going to be a victim of |
| 384 | 01:15:01,740 --> 01:15:11,100 | something outside of yourself, when it's just you. You your broker didn't make you push the button. I didn't make you push a button, your spouse and your |
| 385 | 01:15:11,310 --> 01:15:22,770 | circle of influence friends and family, co workers, none of them forced you to put on a trade. None of you will ever be able to justify you're pushing a button |
| 386 | 01:15:22,920 --> 01:15:35,250 | on anybody else but yourself, you own that. So doesn't it make sense for you to desensitize yourself from the experience? In the beginning, doing it the right |
| 387 | 01:15:35,250 --> 01:15:46,560 | way, by not having money attached to the transactions, studying price, getting a close read on price. And knowing when not to trade, and when to close the charts |
| 388 | 01:15:46,560 --> 01:16:00,810 | and be done. And not being fearful of missing out. If any of you are in the listening audience right now, and you put on a trade, maybe took a couple |
| 389 | 01:16:00,810 --> 01:16:13,230 | trades, and you made money. The times I tell you in Twitter to close your charts and turn them off. Doesn't that feel like I'm asking you for your firstborn? |
| 390 | 01:16:16,260 --> 01:16:28,680 | What I might be able to get on the trade. I need to get my fund that account challenge finished. I just need that $5 more of a move to get back that last bit |
| 391 | 01:16:28,680 --> 01:16:36,180 | of drawdown. It's a Friday ICT, I gotta I gotta do this, or I'm not going to be able to live with myself this weekend. I'm not going to close my charts, I gotta |
| 392 | 01:16:36,180 --> 01:16:50,610 | go any more time. It's that fear of missing something. If you feel that that's the infancy as a trader. That's not maturity. Maturity is knowing that you have |
| 393 | 01:16:50,610 --> 01:17:00,510 | the discipline to follow sound advice? I'm not saying there isn't going to be fluctuations in price. I'm just saying, Do you have the discipline to say this |
| 394 | 01:17:00,510 --> 01:17:12,780 | is enough? Because the charts, I'm inviting you to forge discipline? And some of you, most of you if I'm being honest, does you don't doesn't register as sound |
| 395 | 01:17:12,780 --> 01:17:21,540 | device? Do you think I'm just oh, well, that's he's done doesn't mean I should be done? No, I'm teaching you to remember there's a time when you can be content |
| 396 | 01:17:21,630 --> 01:17:29,580 | and close the charts, then you're not inviting the wrestling match that happens with I need to be right on my train. And you know what it feels like when you |
| 397 | 01:17:29,580 --> 01:17:37,290 | still keep your charts open, and you go out there and you wreck yourself. And then you tweet to me, or you want to tweet to me, but you know, I'm gonna say |
| 398 | 01:17:37,290 --> 01:17:51,720 | these types of things to you. I told you not to do that. Everything I'm doing and saying and teaching on is meant for my children to do well. You are all |
| 399 | 01:17:51,720 --> 01:18:05,580 | guests in my house. That's it. That's, that's that's the way we do things here. And I'm teaching my children, you are just invited into the conversations. But |
| 400 | 01:18:05,580 --> 01:18:18,300 | when you make bad decisions, much like my own children will deal with. They're going to be told the same way. Eat it. It's good medicine. It's going to help |
| 401 | 01:18:18,300 --> 01:18:32,580 | you become the trader that you don't even realize is in the making that formidable, profitable, consistently. sound logic, not afraid, not swayed by |
| 402 | 01:18:32,580 --> 01:18:38,430 | emotions, you know exactly what you're going and therefore you know why you're doing it. And you know where you're going to be wrong so that we can measure and |
| 403 | 01:18:38,580 --> 01:18:49,080 | define risk. If you're going to weather losing trades, that's fine. That's normal. Every trader has losing trades. Every trader has drawdown, and better |
| 404 | 01:18:49,080 --> 01:18:53,790 | traders control drawdown, and mitigate systemic drawdown. |
| 405 | 01:18:59,010 --> 01:19:09,330 | Those are skill sets that you learn by getting in the trenches and being in these charts and pushing a button that you want to learn those lessons when |
| 406 | 01:19:09,330 --> 01:19:19,140 | there's no money attached to them. And most of you are attributing being right or wrong in the fear that of being wrong. Because you're trying to do it with |
| 407 | 01:19:19,140 --> 01:19:33,240 | live money when you're not even ready to trade. You have no idea. Can you honestly say and be honest now think? Can you find 15 profitable setups which |
| 408 | 01:19:33,240 --> 01:19:44,850 | were between now and the close of the month of January? Do you have the experience in you to know that you can absolutely frame that many high |
| 409 | 01:19:44,850 --> 01:19:57,270 | probability setups between now and the close of this month? If you can't do that? Why on earth would you be worrying about transactions being right or wrong |
| 410 | 01:19:57,270 --> 01:20:10,050 | and having so much emphasis on it? you're placing unrealistic expectations on yourself. I don't ask that of you or any of my students. So why are you asking? |
| 411 | 01:20:11,280 --> 01:20:23,610 | You're asking to be a gold medalist, the Olympic trader, because you watch a video series by me. I don't expect that of you or my viewers. But that's the |
| 412 | 01:20:23,610 --> 01:20:34,740 | equivalent of what it is you're doing. It may not feel like it, but that's exactly what you're doing. And that's irresponsible. It's unrealistic. And it |
| 413 | 01:20:34,740 --> 01:20:44,310 | needs to stop. Because you're holding up your your progress by doing those things, thinking about it like that. So when we tape read this year, and we're |
| 414 | 01:20:44,310 --> 01:20:52,650 | watching price action, and I'm taking you through the charts on Twitter, you need to be engaging and not thinking about how much money I would have made on |
| 415 | 01:20:52,650 --> 01:21:07,350 | it, that's the worst thing you could have done. Worst thing ever, because you're not taking advantage of the time I'm investing in you. By showing you how to |
| 416 | 01:21:07,350 --> 01:21:17,370 | read the tape, watch these candlesticks paint, and you have no outcome to worry about, you're not going to make any money on it, you're not going to lose any |
| 417 | 01:21:17,370 --> 01:21:28,980 | money on it. And you have all of the focus on what reading how price behaves between the time I send that tweet. And when it hits the level. There's lessons |
| 418 | 01:21:28,980 --> 01:21:39,330 | in that, that I can't even articulate, because it's going to be on an individual unique basis, you're going to discover, wow, I really am impatient. It took 11 |
| 419 | 01:21:39,330 --> 01:21:47,250 | minutes for the trade to go there. And it felt like a lifetime. I'm really impatient. Yes, that's what this market will do. This market is a mirror, it's |
| 420 | 01:21:47,250 --> 01:21:57,480 | going to show you every character flaw in you. And you can try your best to try to ignore it. pretend it's not there, it will just compound and show you in |
| 421 | 01:21:57,480 --> 01:22:08,370 | reckless trading. You got a superiority complex, you're on social media, you're going to try to be better than everybody else. And you're gonna break every |
| 422 | 01:22:08,370 --> 01:22:14,160 | sound logic rule in trading, you're gonna overlap it, you're going to Martin deal, you're going to push, you're going to say I should stop, I know I should |
| 423 | 01:22:14,160 --> 01:22:24,270 | stop and you're still going to do it on your live streams, enriched yourself. These markets are a mirror. And they're going to show you and the world that |
| 424 | 01:22:24,270 --> 01:22:34,920 | they're watching the real you. And if you're new, and you haven't even discovered how to trade yet, why would you invite other people to cast their |
| 425 | 01:22:34,920 --> 01:22:45,720 | judgment upon you when you don't even know who you are as a trader yet? You're trying to rush to do too many things. And there's more important things to be |
| 426 | 01:22:45,720 --> 01:22:57,780 | worrying about. sound logic, patience, knowing what to look for, what do these patterns look like on a day by day basis, week to week. And over time? What that |
| 427 | 01:22:57,780 --> 01:23:08,610 | does, it's a desensitizing event that you see these things panning out, it doesn't mean that you should be expecting to see the same thing when you first |
| 428 | 01:23:08,790 --> 01:23:20,070 | find me. Some people, I've watched your entire series, I started all your videos, which means I watched all of them. And I'm still struggling with bias. |
| 429 | 01:23:20,640 --> 01:23:33,510 | Okay, that's what this entire year is going to teach bias. I'm trying to figure out how to find the right fair value get that's what I'm doing this year. Here |
| 430 | 01:23:33,510 --> 01:23:45,090 | the last word in that sentence this year, you will not learn the correct bias. Ordinary active in watching one video series. I can't write a book. I can't |
| 431 | 01:23:45,090 --> 01:23:57,300 | condense it into a five minute trainer. Nobody can. You have to walk it with me. You have to see it daily, weekly, over months throughout this entire year. And |
| 432 | 01:23:57,300 --> 01:24:06,960 | then you'll be able to reflect back on all the journal entries all the times the events that we walked through live either on Twitter or on live streams. You'll |
| 433 | 01:24:06,960 --> 01:24:18,210 | have that experience and then they'll mean more to you because you walked it. You lived it. You went through it. And some of your kicking and screaming I |
| 434 | 01:24:18,210 --> 01:24:29,340 | don't want to do it ICT. Dammit, you're not going to make me do it. Right. Okay? Stay mediocre and unprofitable. Because that's what you're saying. Because |
| 435 | 01:24:30,330 --> 01:24:42,210 | whether you realize it or not, the long term continuous success in trading is doing this anyway. Every day. If you think you're not going to be looking at |
| 436 | 01:24:42,210 --> 01:24:48,540 | charts, how you're how you're gonna make money. I don't want to watch data. I don't want to watch the charts. I don't want to back tests. I don't want to do |
| 437 | 01:24:48,630 --> 01:25:03,090 | that stuff. What how are you going to trade? How are you going to find the setup you're looking for? You got to put your nose in the charts. got time for this, |
| 438 | 01:25:03,120 --> 01:25:11,670 | right? You are saying that you are in a hurry to lose, you want to fail, you're on the fast track to failure. Go ahead, have it your way mentorships are out |
| 439 | 01:25:11,670 --> 01:25:12,390 | there, do it. |
| 440 | 01:25:17,580 --> 01:25:30,720 | I'm here, and I'm talking to the folks that are ready to learn. They're not expecting pie in the sky results real fast. They're not trying to get Lambo |
| 441 | 01:25:30,720 --> 01:25:42,510 | lifestyles, now. You can get that real quick, learn how to trade and then make your analysis available to other people, they will pay you gladly for that. And |
| 442 | 01:25:42,510 --> 01:25:52,980 | you will make millions of dollars doing that real fast, you get lambda life just like that. So if that's really what your passion is, put the work into it, learn |
| 443 | 01:25:52,980 --> 01:26:00,630 | how to do this, and there's lots of other people that want to copy whatever you think is going to happen. If you're consistently profitable, your your analysis |
| 444 | 01:26:00,630 --> 01:26:10,500 | is correct. Believe me, there's more people on this planet that are willing to pay you for that skill set, then you can take his trades. And you can make more |
| 445 | 01:26:10,500 --> 01:26:17,490 | money doing that. And he does this whole argument, this whole argument? Well, if you could do it, you wouldn't teach you wouldn't charge money. That's bull. |
| 446 | 01:26:17,700 --> 01:26:25,740 | That's bull. Okay, if I needed to make a lot of money, if I needed to make a lot of money real fast, right now, all I gotta do is put a PayPal link up and say |
| 447 | 01:26:25,740 --> 01:26:34,680 | here, join my mentorship. I don't need to do that. I'm teaching you to trust me, I am not selling you a mentorship. I'm giving you my life right here for this |
| 448 | 01:26:34,680 --> 01:26:42,510 | entire year and pouring it out and giving you the experience. But don't let other people tell you if this is what you want to do, that you want to go out |
| 449 | 01:26:42,510 --> 01:26:49,830 | and you want to teach what the markets going to do next, using this newfound skill set you're learning. Don't let anybody tell you that something that you |
| 450 | 01:26:49,830 --> 01:27:03,000 | should be ashamed of get your bread. Get it. Because the same people that are going to criticize you and cause you to doubt, they're not going to be there |
| 451 | 01:27:03,000 --> 01:27:12,390 | handing out something when you need it. When your utility bills high, you can't pay it, they're not going to help you. So why you give them the time of day |
| 452 | 01:27:12,390 --> 01:27:21,180 | worrying about it. It's the same thing you're doing to yourself when you self sabotage yourself, doubting, Oh, I gotta be right, I gotta be right. No, you |
| 453 | 01:27:21,180 --> 01:27:30,000 | don't have to be right, you have to be responsible for knowing what it is you're looking for. And it has to fit your personality. If you're trying to find a |
| 454 | 01:27:30,000 --> 01:27:39,870 | model that I'm maybe even covering, you know, later in the year, you might not even see me talk about in this move here, I expect this type of price action and |
| 455 | 01:27:39,870 --> 01:27:51,030 | this model is XYZ. If it doesn't resonate with you don't force it like you have to because I maybe did something correctly and it panned out. Don't do that. I |
| 456 | 01:27:51,030 --> 01:27:58,410 | have people that have never left the simple optimal trade entry pattern, which was my flagship pattern on this YouTube channel. Even though I've taught |
| 457 | 01:27:58,440 --> 01:28:08,400 | everything new Fairbury got model the whole core content from the paid mentorships up on the YouTube channel. And they have still never left optimal |
| 458 | 01:28:08,400 --> 01:28:20,280 | trade entry. And that's what they make their money with, Hey, you are the poster child of who I'm trying to represent here. They're not influenced. Even by me, |
| 459 | 01:28:20,340 --> 01:28:26,970 | once they find their model. They don't care. They might watch my stuff, but it isn't changing anything. Right? It's not having any impact. They're not |
| 460 | 01:28:26,970 --> 01:28:35,640 | tinkering with what already works. And when you buy a new sports car, if you pay a lot of money for it, how quick are you to want to open the hood up and move |
| 461 | 01:28:35,640 --> 01:28:41,670 | things around underneath the hood. I ain't touching this though. I don't understand it. I ain't gonna shame and telling you I'm not tinkering with |
| 462 | 01:28:41,670 --> 01:28:54,930 | something that is already perfect is the way it is. So when you find your model, you find your approach. Don't let other people whether you positively or |
| 463 | 01:28:55,080 --> 01:29:04,830 | negatively let them have no impact on your trades. Not nothing not your model not anything. Talk about this real quick. NASDAQ is really really really sloppy |
| 464 | 01:29:04,830 --> 01:29:07,650 | here. really sloppy |
| 465 | 01:29:13,020 --> 01:29:25,560 | gun to my head maybe a higher high looks likely on this one. I don't know if it wants to run this high here on the 30 minute time frame that and they just drop |
| 466 | 01:29:25,560 --> 01:29:41,730 | a line on it just don't refer back to that later on. My stomach's talking to me saying yesterday you have lunch see here. Take a look at the dow I don't trade |
| 467 | 01:29:41,730 --> 01:29:51,330 | this instrument but I do use it for like the dollar index when I'm using dollar for like a barometer for forex, which I'm not actively trading anymore. I know |
| 468 | 01:29:51,330 --> 01:30:07,590 | some of you are upset about forex. So hopefully you know when I'm teaching my son, Cameron, and I'll put him through exercises, you can take those same |
| 469 | 01:30:07,590 --> 01:30:24,450 | exercises and utilize them as well. And that way you can, in my opinion, try to build the I guess the tolerance to resist being fearful of the outcome of a |
| 470 | 01:30:24,450 --> 01:30:34,770 | trade or an idea, some of you are just plagued with, you don't think you deserve to learn how to do this. And some of you are afraid of success is weird as that |
| 471 | 01:30:34,770 --> 01:30:47,640 | may sound, that's exactly what some of you are fearful of, is it going to change you as a person? It will, it takes a whole lot more energy and effort to resist |
| 472 | 01:30:47,640 --> 01:30:59,040 | being ugly. And when I started making a lot of money when I was younger man, that really made me arrogant. And you got to be careful with that. And it's |
| 473 | 01:30:59,040 --> 01:31:07,590 | something probably that you should be concerned about, if you're a young person, especially a male, and females not so much. But the males tend to be braggarts |
| 474 | 01:31:07,590 --> 01:31:19,650 | and want to show their peers that they're worth listening to. But I want to cover what I did this morning. And then we'll close this. And I could turn this |
| 475 | 01:31:19,650 --> 01:31:28,110 | into four hours easily, and probably bore the socks off for you. But I want to make it useful. So if we have the |
| 476 | 01:31:36,030 --> 01:31:50,760 | you can see it's not a market replay, by the way. So we had the s&p divergence down here. And that is here, we have the lower lows, but not seen in the NASDAQ, |
| 477 | 01:31:50,790 --> 01:32:00,510 | you see that. So this is the s&p divergence. And what does is what's actually occurring here, as the s&p market is dropping lower, it's going below the sell |
| 478 | 01:32:00,510 --> 01:32:09,270 | side of liquidity here. So I'm going to annotate that real quick. So you can see follow the logic is what's going on in my head, as the trader below here, sell |
| 479 | 01:32:09,270 --> 01:32:18,750 | stops. Okay, that's what we call sell side liquidity. So the market taps into that here, and then once more here, and right there, we're getting divergence |
| 480 | 01:32:19,980 --> 01:32:23,880 | between the lows of the NASDAQ and I'll show you what that looks like with the candlestick. |
| 481 | 01:32:29,640 --> 01:32:42,000 | See how we went lower here, this low, this low, this low, respectively on the NASDAQ, it's higher Ah, okay. So it didn't make a lower low on this pass on |
| 482 | 01:32:42,000 --> 01:32:50,970 | NASDAQ, which is the lower chart I'm pointing to, at the same time that the s&p went lower. So that's what I call SMT SMT. I've never really settled on a name |
| 483 | 01:32:51,000 --> 01:32:59,910 | specifically with the SMT stands for have interchangeably used Smart Money techniques Smart Money tool, okay. And that's why it's always just referred to |
| 484 | 01:32:59,910 --> 01:33:09,960 | as SMT. Because otherwise, I would have had the full three words as the name but creating the language for y'all when I was on baby pips. That's what we settled |
| 485 | 01:33:09,960 --> 01:33:21,960 | on. And it's never really changed. But that divergence, there was enough for me to look at this liquidity as a raid, especially if we run a short term high, |
| 486 | 01:33:21,990 --> 01:33:33,600 | which is what we get. Minimize this short term high right there. It runs through it there. Once it runs through it, let me zoom a little bit more. |
| 487 | 01:33:43,920 --> 01:33:53,070 | All right, the short term high right here, we run through it there that candle, so we have technically a shift in market structure that's bullish. Now, a shift |
| 488 | 01:33:53,070 --> 01:34:04,560 | in market structure. This is where your notes, Oh, you didn't bring a new pet? Oh, send yourself a text. The market structure shift is just a short term change |
| 489 | 01:34:05,910 --> 01:34:18,870 | in market sentiment, and it will deliver on a short term basis. A market structure break is where the entire tide of the marketplace changes. And we go |
| 490 | 01:34:18,870 --> 01:34:28,020 | into a longer higher timeframe, delivery of price where if it's been bullish, and then we have a break in market structure that's bearish, then what we're |
| 491 | 01:34:28,020 --> 01:34:40,830 | saying is, is there's a change in trend, if we want to call it retail logic. A shift in market structure is not equivalent to an outright reversal. It's just a |
| 492 | 01:34:40,860 --> 01:34:51,240 | change in short term market sentiment. And that's all we need to capitalize on in terms of intraday price action. So when we see the short term high changing |
| 493 | 01:34:51,240 --> 01:35:00,630 | here, right there that that candle once it passes through it, I never instance for you, and it's also a shift in market structure does not require a Higher |
| 494 | 01:35:00,630 --> 01:35:11,010 | close above the short term high. It just needs to trade above it. The algorithm is not basing its next run on price because it closes above that it just needs |
| 495 | 01:35:11,010 --> 01:35:19,230 | to run through it. Once it does that that trigger now starts a macro. Macro is a short list of instructions that the algorithm will run. And the price engine |
| 496 | 01:35:19,230 --> 01:35:28,020 | that creates these fluctuations in price, it matters not how much buying and selling pressure. That's a misnomer. It's like why. Okay, that is not how these |
| 497 | 01:35:28,020 --> 01:35:39,150 | markets book, I don't care who tells you otherwise. Okay, it's not the volume. Because if it was the case, then why do we study volume and prices going higher |
| 498 | 01:35:39,150 --> 01:35:46,980 | and making higher highs but volume is receding going lower? The volume didn't put it up there. It's being booked there. It's being priced it's being offered |
| 499 | 01:35:46,980 --> 01:35:53,850 | there. Regardless of how many people buy and sell, it doesn't matter. markets do not talk because it runs out of buyers. And it doesn't bother them when it runs |
| 500 | 01:35:53,850 --> 01:36:04,590 | out of sellers. You have been lied to? I know it's hard to take that it sounds what? There's no way this guy, I'm telling you spend the rest of the year with |
| 501 | 01:36:04,590 --> 01:36:11,970 | me, you're going to be convinced of it, I promise you, you're gonna be convinced of it. In fact, hold me to it as a challenge, I guarantee you, I'm going to |
| 502 | 01:36:11,970 --> 01:36:20,790 | convert you in least in that respect. So once we get below the sell side here, we run through the short term high, there's a shift in market structure. Now |
| 503 | 01:36:20,790 --> 01:36:27,930 | it's bullish, so your eye goes to what my eye goes to Where's liquidity? So the first thing I'm going to look for, as I pan back, is I'm going to look for is |
| 504 | 01:36:27,930 --> 01:36:38,430 | there a relative equal high, something smooth? Well, these highs are basically almost the same, right? So it feels like it's like a ceiling. If you're in your |
| 505 | 01:36:38,430 --> 01:36:45,540 | room. If you're here, if you're indoors right now look up and see the ceiling where you're at. That's like being down here looking up this ceiling. That's the |
| 506 | 01:36:45,540 --> 01:36:55,920 | ceiling right here. Retail thinks that's the highest they can go. Because that's what the books tell them. They say in their mind, okay, this is the highest it |
| 507 | 01:36:55,920 --> 01:37:05,250 | can go because that's resistance. I train you to think it's going there and going above it because that's exactly where the money's resting. That's where |
| 508 | 01:37:05,250 --> 01:37:16,890 | the victims are holding up signs. I'm heading to Loserville give me a ride. Okay, that's a hitchhiker. I want to pick up every time when the market trades |
| 509 | 01:37:16,890 --> 01:37:24,960 | down to the sell side here. And then I'm watching does it shift bullish Lee is a shift in market structure with that candle right there. It does not need to |
| 510 | 01:37:24,960 --> 01:37:36,510 | close above it. So now in my mind, I go back through what just took place? Well, we just ran sellside. We have SMT divergence. I'm not using an indicator just |
| 511 | 01:37:36,510 --> 01:37:49,200 | comparing correlated markets. The Dow, the NASDAQ in the s&p, I'm comparing the price action between those three, I'm sorry, there's three instruments. If I'm |
| 512 | 01:37:49,200 --> 01:38:03,990 | anticipating the likelihood of something bullish I'm already expecting the SMT. I'm not using the divergence as a trade selection. It's a confirmation tool. It |
| 513 | 01:38:03,990 --> 01:38:15,360 | qualifies something that I had already anticipated. This was too smooth. We were going below sellside. We went through it if it went through it, and we didn't |
| 514 | 01:38:15,360 --> 01:38:22,260 | diverge. And if the NASDAQ made lower lows with the s&p, then I would not expect this. Send on some of your product that could Can you just tell me what, what |
| 515 | 01:38:22,260 --> 01:38:29,520 | you're trusting and what you wouldn't have trusted, I just told you that. If the NASDAQ would have made a lower low like it did here in the s&p, I would not have |
| 516 | 01:38:29,520 --> 01:38:38,670 | gone long, even if it went above that short term high here because then I would expected this fair value gap to be something to be monitoring. But because we |
| 517 | 01:38:38,670 --> 01:38:48,570 | had divergence with the NASDAQ lows not meeting the lower low that we see in the SP here. Then I'm gonna watch and see does it give me does it show his hand to |
| 518 | 01:38:48,570 --> 01:39:00,000 | me? Does it tip his hand to me and say, Michael, this is what I'm about to do. I'm going higher. Get on board. I'm going to give you a fair bag that runs above |
| 519 | 01:39:00,000 --> 01:39:12,510 | the short term high here there. And as it's coded just like it's supposed to be this candle is high. Look at this price here. Okay. Right up here. This candles |
| 520 | 01:39:12,510 --> 01:39:24,780 | high. In this candles low. That's what I'm framing here. That's the fair value gap. Now it drops down what time is this? 945. That's when I told you the news |
| 521 | 01:39:24,780 --> 01:39:36,570 | was coming out. Now, that news report, I'm not afraid of that type of report. It's not the same thing like a CPI CPI will rip your face off. Like it's it's, |
| 522 | 01:39:36,870 --> 01:39:49,020 | you do not ever, ever, ever want to be trading ahead of the CPI number ever. You don't ever want to be trading ahead of a rate announcement ever, because it will |
| 523 | 01:39:49,020 --> 01:40:00,930 | tear your limbs off. If you don't want to do that but other market reports. They will just be fuel to something you already anticipate and see. So This 945 |
| 524 | 01:40:00,930 --> 01:40:18,120 | candle. Notice it does wick through the fair value gap. But does it take out the low? No. Your stop, could originate here at that low. Buying this candles low, |
| 525 | 01:40:18,150 --> 01:40:28,710 | that's your first entry. You can use that you can use the consequent encroachment, which is the midpoint of the gap, which is this one candle. So, |
| 526 | 01:40:28,890 --> 01:40:39,840 | when I'm talking about things on Twitter, I'll say, yes, one minute chart, and then I'll give a 09 colon four, two. I'm not saying I did it for this one here. |
| 527 | 01:40:39,840 --> 01:40:49,380 | But the other ones, I'm going to refer to them, I did. If I'm telling you 09, colon four, two, and I'm telling you one minute, yes, I'm telling you to look at |
| 528 | 01:40:49,380 --> 01:41:03,120 | the ES chart, find that time on the axis at the bottom of the chart, and put it right on that candle. And you'll see exactly what I'm looking at, I won't have |
| 529 | 01:41:03,120 --> 01:41:13,950 | to say this is a buy, I won't have to say this is a sell on the saying, watch that. Note that because you want to annotate that in your chart. And then watch |
| 530 | 01:41:13,950 --> 01:41:26,970 | how price reacts and goes towards what we're looking for which was tweeted, after the s&p divergence, I said, note the 4028 level that's by side. So the |
| 531 | 01:41:26,970 --> 01:41:37,950 | market runs, dips back down into this area here on the news comes back up in the candle closes here. The next candle opens trades one more time, was the tape |
| 532 | 01:41:37,980 --> 01:41:45,180 | trading into the fair value get one more time. This is the only other opportunity you have. If you're going to use in their fair pay gap, you got to |
| 533 | 01:41:45,180 --> 01:41:56,760 | buy it smack it rate as it goes into that candles low rate there. It goes a little bit passive but not much. But what is it really reaching for this wick |
| 534 | 01:41:56,820 --> 01:42:09,750 | from the high, I'm sorry, from the low of the body, which is the closing price to that low, eyeball half of it. Boom. And it's also inside the fair Vega. When |
| 535 | 01:42:09,750 --> 01:42:18,570 | you watch me talk about price live, you'll see me refer these things as they happen. And you're gonna be floored how it respects and responds to many of |
| 536 | 01:42:18,570 --> 01:42:25,740 | them. I'm gonna get it wrong, don't get me wrong, because I'm looking at one minute charts. One minute, there could be something that happens a little flurry |
| 537 | 01:42:25,740 --> 01:42:36,360 | of something that comes in, and I'll be off. Okay, no problem. But I have no fear of doing it with you showing you that this is what you can do. And then it |
| 538 | 01:42:36,360 --> 01:42:49,680 | rips through this short term. Hi. This is a bullish breaker. What does that the low here makes the high and then a lower low. So this move up, you were focusing |
| 539 | 01:42:49,680 --> 01:43:02,460 | on highest up close candle extend that range out. So as it's digging into this here, this is return into that bullish breaker. If okay, this is this is what |
| 540 | 01:43:02,460 --> 01:43:12,930 | some of my trolls and detractors like to say, Oh, this is only old Hi, this resistance broken turn support. Here's how you classify retail support |
| 541 | 01:43:12,930 --> 01:43:25,380 | resistance as the real levels to be trusted. Okay. If they're high has a low prior to it and a lower low after it after this high forms, then it comes back |
| 542 | 01:43:25,380 --> 01:43:33,780 | down to it, then yes, you can trust it as resistance broken turn support. The narrative behind why it should be that way is what makes my breaker the breaker. |
| 543 | 01:43:34,050 --> 01:43:45,090 | It broke. Anyone that was holding stocks below here, they went lower than and then rip through the short term high. This in itself is a shift in market |
| 544 | 01:43:45,090 --> 01:43:45,510 | structure. |
| 545 | 01:43:48,090 --> 01:43:56,160 | Notice that same event is occurring with this short term high here when that candle passes through it is occurring with this high with this movement right |
| 546 | 01:43:56,160 --> 01:44:08,280 | there. The logic is that we've done damage with this candle being high here he took out and broke, it broke the backs of anyone trying to go long on that low. |
| 547 | 01:44:09,150 --> 01:44:16,710 | When it ripped up higher like this, then went down one more time to knock them out. There's liquidity taken here and absorbed what kind of sell side who would |
| 548 | 01:44:16,710 --> 01:44:25,050 | want to take out sell side individual one of the long smart money buying those sell stops up there being counterparty to it and then using the fair value gap |
| 549 | 01:44:25,050 --> 01:44:34,800 | as it drops into here and then one more time here and it rips through the short term high here. We take this off when it comes right back down into the high but |
| 550 | 01:44:34,800 --> 01:44:48,180 | more specifically, it's a bullish breaker and old high Yes. And there's a fair begun right there. You have three things qualifying that level. Now compare and |
| 551 | 01:44:48,180 --> 01:45:02,190 | contrast that with the new Larry's School of logic in in trading retail books. They're cherry picking levels in the In the past, look at this trendline, this |
| 552 | 01:45:02,190 --> 01:45:08,760 | diagnosis how you could have bought this. I bought all that stuff in the beginning. I thought that's exactly what people do. And I thought I thought that |
| 553 | 01:45:08,760 --> 01:45:17,580 | was how it was going to be profitable for me. And I couldn't make it work. So I had to go in and figure out really what's going on. So when we trade back down |
| 554 | 01:45:17,580 --> 01:45:25,590 | into this high with the fair value gap, and it's a breaker, look at the perfect close look at the look at this right here. Look at this price, right there, |
| 555 | 01:45:25,590 --> 01:45:39,090 | folks, watch that price. When this candle is high? What is the high that for zero to 0.50? This movement back down into the fair value gap? What's the low of |
| 556 | 01:45:39,090 --> 01:45:50,400 | that candle? For zero to 0.50? Folks, listen, listen, I'm not where I'm not aware of where you're at with neck of the woods, you're from what country you're |
| 557 | 01:45:50,400 --> 01:46:02,340 | in. Okay, but perfect, is perfect. It's not a fluctuation short, it's not a fluctuation past it, it's dead ringer rate on the actual tick, I'm sorry, if I |
| 558 | 01:46:02,340 --> 01:46:12,540 | hurt your feelings, if it doesn't line up with your treasured guru mentor, okay, I'm sorry. But this is it, this is the thing you're looking for. You're looking |
| 559 | 01:46:12,540 --> 01:46:22,650 | for something that works, that you can trust the logic behind it, and you want something that is delivering with no opportunity to approve upon. This is it. |
| 560 | 01:46:22,950 --> 01:46:30,540 | And this is the reason why I talk to you the way I talk. And it sounds arrogant. But it's just confidence. I know what I created, I know what I'm holding in my |
| 561 | 01:46:30,540 --> 01:46:40,170 | hands, and I'm giving it to you, all you have to do is spend time with it. And you'll fall in love with it, I promise you, I promise you, you will fall in love |
| 562 | 01:46:40,170 --> 01:46:52,830 | with this. But if you sit on the side, and just hold on to your fear and struggle with the work ethic that's going to be required to learn it, then |
| 563 | 01:46:52,860 --> 01:47:01,530 | obviously, you know, it's easy to cast judgment because it's easy to talk about something you haven't really worked worked for. So everybody that's worked for |
| 564 | 01:47:01,530 --> 01:47:11,280 | it, and it's got it, they don't care, who believes me, who doesn't believe they're doing it, you're not going to either. But you're never gonna get to that |
| 565 | 01:47:11,280 --> 01:47:24,690 | stage, until you press through this ratio by itself as a trade. It moves from 421 50, what we'll call, we'll just do the low, you could not you could have |
| 566 | 01:47:24,690 --> 01:47:34,410 | went long on that at the low using the logic already taught, I'm not cherry picking anything here 4021 and a quarter. All it has to do is trade at that |
| 567 | 01:47:34,410 --> 01:47:47,790 | level, there used to be a buyer from 4021 and a quarter. Right there, it doesn't even have to go into the old highs back here, which is what I was going to be |
| 568 | 01:47:47,790 --> 01:47:58,050 | aiming for. But this candle here soon as it trades to 26 and a quarter. Right there. That price right there, bumping above these relatively equal highs right |
| 569 | 01:47:58,050 --> 01:48:08,610 | there. That's five handles, and you don't need to be right about trading to the boss out liquidity. That's the difference between worrying about profitability |
| 570 | 01:48:09,150 --> 01:48:17,910 | versus being right. You can be a buyer down here on the breaker in the fair value gap, run the short term high and not need these highs to be taken out. If |
| 571 | 01:48:17,910 --> 01:48:26,820 | you can get five handles on that. Guess what, that's exactly how you start. That's how you start. That's your first rung objective, your expectations on |
| 572 | 01:48:26,820 --> 01:48:33,600 | what it is that you're trying to do as a trader. That's what you're trying to do. Know where it's likely to go, what you're reaching for, where's the market |
| 573 | 01:48:33,600 --> 01:48:40,680 | more likely to go? I'm giving you that with my tweets, I'm telling you, I'm telling you what the market is likely to go to next. You won't be 100% of time. |
| 574 | 01:48:41,580 --> 01:48:51,300 | Nobody's 100% I'm not I've never said I was 100%. But I promise you you're never gonna find another person walking this planet is going to be more precise as I |
| 575 | 01:48:51,300 --> 01:49:03,930 | am. And that ruffles feathers and I don't care. You got something that's better bring it. Back five handles is an easy low hanging fruit objective. But once it |
| 576 | 01:49:03,930 --> 01:49:17,520 | clears those by stops here above this highs right here. Pay the trader that was a tweet that came in 4028 hit, done, booked, it's over. Move to the sidelines. |
| 577 | 01:49:17,610 --> 01:49:26,580 | But what is it? Who cares? What if that's not the text trade? And that's the other thing I want to talk about. Every time I do something and I call it it |
| 578 | 01:49:26,580 --> 01:49:36,780 | pans out. There's always this flurry of the same people. Franklin, does this mean that we're going to go short now? Like I'm sitting here buying and selling |
| 579 | 01:49:36,780 --> 01:49:47,160 | every swing high? I'm not doing that I can. I've done that before. But that's not what I'm promising you this year. I'm promising you how to go in find low |
| 580 | 01:49:47,160 --> 01:49:58,530 | hanging fruit. Something you can go in here and do five minutes, five minutes. Five handles on one mini is $250 Do you make 250 hours in a day? Working your |
| 581 | 01:49:58,530 --> 01:50:17,160 | job I'm not trying to be rude. But do you make $250 a week? In some countries you aren't. And you don't need to have these extremely irresponsible mentors out |
| 582 | 01:50:17,160 --> 01:50:24,630 | there trying to tell you that you could be making six figures a month, or that they're aspiring to make six figures, and therefore, because they're saying |
| 583 | 01:50:24,630 --> 01:50:32,820 | they're trying to do it, that means it should be realistic for you to try to do. I don't do that, folks. But what I'm saying to you is, what if you could just |
| 584 | 01:50:32,820 --> 01:50:45,540 | find one of these per week and had diligence and responsibility to stop for the week? And you did it every week? Every month? Wouldn't that help you? With your |
| 585 | 01:50:45,540 --> 01:50:55,980 | utility bills? And your maybe your car note? How much of a life changing impact would it be to have that thing off your neck every month? If that's all you got? |
| 586 | 01:50:56,460 --> 01:51:07,020 | your grocery bill was paid for? Wouldn't that mean a whole lot more to you, in terms of building your confidence to keep doing what you're doing and grow from |
| 587 | 01:51:07,020 --> 01:51:17,490 | that same five handle? Yes, it would. And if you're saying No, it wouldn't turn this video, don't come back to my channel again, because you are a gambler. I |
| 588 | 01:51:17,490 --> 01:51:25,560 | cannot work with gamblers. I'm not trying to promote gambling mindset. I'm not trying to promote somebody get rich quick stuff. I'm not teaching that at all. |
| 589 | 01:51:25,740 --> 01:51:38,100 | But listen, if you take the things I'm showing you here, and you want to get rich, Who's stopping you? I'm not. Nobody else would be only you are. But I |
| 590 | 01:51:38,100 --> 01:51:45,540 | don't, I'm not teaching you that. I don't want you walking into this thinking. I'm promising you getting rich, I'm promising you're going to work your rear end |
| 591 | 01:51:45,540 --> 01:51:55,290 | off. Because you got to overcome a lot of these character flaws that you're gonna have, that you don't even realize you have. But you can make this into |
| 592 | 01:51:55,290 --> 01:52:04,950 | whatever you want it to be big or small. Now over here, this low here is random reaction. Let's take a look at the |
| 593 | 01:52:09,990 --> 01:52:24,180 | hourly chart here. Alright, so I tweeted this also, I said, pull up on your hourly chart, your 60 minute chart, the Monday 23rd of January's hourly candle, |
| 594 | 01:52:24,180 --> 01:52:32,430 | note that that's a fair Vega. Okay, that rectangle is the same rectangle that's being shown over here, this this chart that I'm looking at the big one on the |
| 595 | 01:52:32,430 --> 01:52:41,100 | right hand side, that's a one minute, this same market is over here, just being viewed from an hourly chart. So every candle represents the interval of the |
| 596 | 01:52:41,100 --> 01:52:50,460 | highest high and the lowest low of each hour. candle on the bottom lower left, each candle represents the highest highs and lowest lows every 15 minute candle, |
| 597 | 01:52:50,640 --> 01:53:00,330 | you can see that rectangle here if I take it off, but it disappears from the other charts. If I Ctrl Z, they'll go back. So it's going down to that level |
| 598 | 01:53:00,330 --> 01:53:11,160 | based on the hourly chart. It trades down to it here. It trades down to it here. That reaction is what I tweeted, it's a note that when we were inside the fair |
| 599 | 01:53:11,160 --> 01:53:24,990 | value gap here. I taught last night that you can look for inversion levels to extend the fair pay gap in time and look where the bodies are collected in |
| 600 | 01:53:26,280 --> 01:53:38,880 | inside the fair value gap. It trades right back up to this candles low does it here hits it hits it hits it hits it breaks lower goes exactly what I said in a |
| 601 | 01:53:38,880 --> 01:53:52,830 | tweet on Twitter, the hourly fair value got there's five handles there. So 10 handles offered without really expecting a lot in terms of risk. There's risk |
| 602 | 01:53:52,830 --> 01:54:00,540 | every time you take a trade obviously, but in terms of movement against the idea that once I tweeted it very little fluctuation or will we be considered drawdown |
| 603 | 01:54:02,010 --> 01:54:13,740 | the market then rallies and returns back up into the area of what makes us larger again, it returns back to this pool of liquidity there. Then it comes |
| 604 | 01:54:13,740 --> 01:54:28,500 | right back down into this right here. Take this off. This candle here. In this candle here is one order block. An order block has nothing to do with a depth of |
| 605 | 01:54:28,500 --> 01:54:39,360 | market or level two data. It has nothing to do with actual orders. When I say it's an order block. What I'm saying to you is the algorithm refers back to this |
| 606 | 01:54:40,320 --> 01:54:55,950 | as an order block. It has nothing to do with mitigating order blocks don't get mitigated. Okay. The market when it trades back to this level here. You want to |
| 607 | 01:54:55,950 --> 01:55:11,610 | take the opening price. Extend Mountain Time you guys liked it. I'm having fun today. If you're learning something tweet me if you're having fun. Alright, so |
| 608 | 01:55:11,640 --> 01:55:21,780 | this order block, okay, this run lower and then shift in market structure, where's that occur? Right there. That candle right there. It's a shift in market |
| 609 | 01:55:21,780 --> 01:55:31,800 | structure, what took place? The sell stops or sell side liquidity resting below here has been purged. So if we take this level here and put it right there, I |
| 610 | 01:55:31,800 --> 01:55:41,010 | told you, we were here to put that level, the blue shaded area on your hourly chart and denote that if it was up here, and I tell you down here, where's my |
| 611 | 01:55:41,010 --> 01:55:52,650 | bias? Down? How far to that fair value gap? Once it hits it? What do you do? You log it? Does it offer five handles? If it does, you annotate your chart, you say |
| 612 | 01:55:52,650 --> 01:56:02,970 | this is what I seen. And you put in annotations, like you observed it with foresight before the fact. And by doing that, and putting it in your chart, |
| 613 | 01:56:03,840 --> 01:56:10,740 | technically, if you're going to be highly critical, you're technically lying to yourself in your annotations, because you're giving yourself positive self talk, |
| 614 | 01:56:10,740 --> 01:56:18,990 | like you saw it coming. When you look at your charts on the weekend, and you refer to your annotations, what's actually happening is, it's very aesthetically |
| 615 | 01:56:18,990 --> 01:56:27,300 | pleasing to see positive self talk in your charts. But it's also subconsciously reinforcing the positives of what it is you're supposed to be retaining in price |
| 616 | 01:56:27,300 --> 01:56:40,110 | action, and you're teaching yourself, subconsciously, to remember these things as what worthwhile endeavors. Not. I'm afraid I'm gonna get it wrong. Do you see |
| 617 | 01:56:40,110 --> 01:56:51,390 | what just took place there? There's a subtle shift, that paradigm shift is required for people to filter out negativity, never invited in your annotations, |
| 618 | 01:56:51,390 --> 01:57:00,720 | or you're logging in in your journals, or even in your social media posts. Never post regret? Not because I don't want students to see that they're feeling no, |
| 619 | 01:57:00,720 --> 01:57:09,990 | that's not what I said. You can say, I lost on this trade. I did this and didn't pan out. Okay, great. That's responsible. It's also sharing the community. Hey, |
| 620 | 01:57:09,990 --> 01:57:18,960 | look, I tried it. It didn't work. And I'm moving on not I blew it today. I'm so stupid. I'm gonna quit. I can never figure this out. This is so dumb. I'm dumb. |
| 621 | 01:57:19,020 --> 01:57:30,960 | Do you see the difference between that and the former? It's too toxic. People reading that? I guarantee you they're thinking, Man, this, this person's a |
| 622 | 01:57:30,960 --> 01:57:41,550 | wreck. And you are if you're doing that, because what you're trying to do is you want to be coddled, I don't coddle I'm going to tell you if you made a mistake, |
| 623 | 01:57:41,550 --> 01:57:52,500 | and it's okay. Blog it, learn from it. Don't repeat it. It may sound insensitive, maybe that's not the response you're looking for. But the response |
| 624 | 01:57:52,500 --> 01:58:03,270 | you're looking for the sugar coated, candy coated ICT mentorship dye, that doesn't work. Okay, that does not work. candy coated mentorships. And mentors |
| 625 | 01:58:03,780 --> 01:58:14,580 | are never going to give you the meat and potatoes that you want on your bones as a trader is there's no way that say other than that. You want the real truth, |
| 626 | 01:58:14,640 --> 01:58:23,610 | the real truth is, is as hard, you're going to earn it, it's going to feel uncomfortable sometimes. And that's normal, you press into that. And every time |
| 627 | 01:58:23,610 --> 01:58:37,380 | you do and you get more insight and you more confidence, it's harder for you to be defeated by yourself, your old self, that old self has to die. You got to put |
| 628 | 01:58:37,380 --> 01:58:47,820 | down and you're going to renew yourself into a new mindset. Replacing positive everything in your life will become you're seeking the positive. And you're |
| 629 | 01:58:47,820 --> 01:58:55,110 | going to take a different approach and everything you do because of what you do with your money in this trading endeavor. It's going to transform you into |
| 630 | 01:58:55,110 --> 01:59:02,460 | something totally different. And you won't even recognize yourself at the end of the year, you won't recognize you. And that's a good thing. Don't be fearful of |
| 631 | 01:59:02,460 --> 01:59:11,190 | it. But this down close these two down close candles That's an order block the algorithm was doing is once this shift and structure occurs here. Look at those |
| 632 | 01:59:11,190 --> 01:59:23,340 | right there on that candle rate at that moment there. The algorithm says okay, I need to reprice higher. It's going to start booking price higher. It doesn't |
| 633 | 01:59:23,340 --> 01:59:34,290 | matter, folks. Jim, the trader on Instagram, okay. It doesn't matter what he says his cousin used to be a broker, his guys, nephew, son, sister's, a market |
| 634 | 01:59:34,290 --> 01:59:43,110 | maker at UBC you are whatever it is, whatever the hell that you're going to try to tell you. I don't care. All of the things I'm going to show you real time |
| 635 | 01:59:43,110 --> 01:59:53,010 | this year is going to fly in the face of everything else out there. And I want you to figure it out. If it's not what I'm telling you what it is improving over |
| 636 | 01:59:53,010 --> 02:00:06,390 | and over again. Then what on earth is it? Because it's not retail? It's not I think in those books, but you have to see it, you have to handle it. And once |
| 637 | 02:00:06,390 --> 02:00:17,850 | you see it, you handle your own. No, this is something totally different. And that's what happens when people come into this content. It's infectious. It's |
| 638 | 02:00:17,880 --> 02:00:28,140 | sticky, you can't, you can't get it off your hands, you want more of it, though, it's like cotton candy. This return to this order block, the market will want to |
| 639 | 02:00:28,140 --> 02:00:43,350 | do that. Once it does that, accumulates buying opportunities. Let me say it better. It provides smart money to accumulate long positions. When it returns to |
| 640 | 02:00:43,350 --> 02:00:56,190 | this, the algorithm is not waiting for smart traders to buy and they're buying is not propelling price higher. It's going down there based on time, it goes |
| 641 | 02:00:56,190 --> 02:01:07,830 | down to it here pulls away from it, and goes down to it one more time. It's spending time allowing individuals that are privy to what I'm telling you what |
| 642 | 02:01:07,830 --> 02:01:18,330 | I'm teaching you when I'm showing you. There are people that are waiting for this opportunity. That is what they're paid to do. They are bank traders. They |
| 643 | 02:01:18,330 --> 02:01:34,350 | are not JP Morgan traders. They're not Goldman Sachs traders. They're at the bank. Oh, but they will not for this discussion. I don't care if you believe it. |
| 644 | 02:01:35,100 --> 02:01:43,050 | I'm not here to try to twist your arm in regards to that. But this run here, did it take out that high on this run here away from the order block when it has |
| 645 | 02:01:43,050 --> 02:01:50,910 | shifted microstructure on that candle right there. When it moved up? Did it take out that high? No matter? What did it leave there by side, I was talking to you |
| 646 | 02:01:50,910 --> 02:01:57,780 | earlier. And you'll hear it in the recording. You'll see in the recording, I mentioned that there's by side here. Be mindful of that. Okay, and I went back |
| 647 | 02:01:57,780 --> 02:02:07,380 | to my conversation with the Rock Creek drops back down into the order block. The algorithm offers the opportunity for traders, they're looking forward to get in |
| 648 | 02:02:08,700 --> 02:02:19,950 | prices higher rejection block, retraces back down to the order block. Once more. What's it doing? It's allowing smart money to accumulate inside the order block. |
| 649 | 02:02:20,190 --> 02:02:33,060 | What else is it doing? For supply and demand, folks? Fasten your seat belts. You're cutting through some candles? Oh, no. We're going back into that area of |
| 650 | 02:02:33,390 --> 02:02:50,520 | inefficiency. It was inefficient in what? Sell side. And it went up. It offered to here. Okay, is this balanced? This range here is this range here bounced at |
| 651 | 02:02:50,520 --> 02:03:01,890 | that point. No, it's only bounced when it comes to it and leaves it now to bounce price range. This is an entirely different endeavor of running out |
| 652 | 02:03:01,980 --> 02:03:12,930 | liquidity that's formed here. It does not cancel this out with you going through my core content, I teach you the pdra matrix. And there is a 2040 and 60 day |
| 653 | 02:03:12,930 --> 02:03:25,680 | look back. And there's a 2040 60 day cast forward. The algorithm refers to things in that scope. And I can obviously turn this into a whole all nighter |
| 654 | 02:03:25,680 --> 02:03:31,470 | here and teach and teach and teach. And it's just going to give you more things, especially if you're new. This is the first time you watch me, it's going to |
| 655 | 02:03:31,830 --> 02:03:39,270 | it's going to seem like it's too complicated. And it would be viewed as complicated for anyone that hasn't really spent any time with me. But for the |
| 656 | 02:03:39,270 --> 02:03:45,270 | folks has been here for a while. This is already starting to make a lot of sense to you. And your gears are turning like oh my goodness, I see it, I see it |
| 657 | 02:03:45,300 --> 02:03:58,050 | right. It's gonna keep repeating to every week, every day and it won't stop. I'm not changing anything. Okay, it will not stop working. will not trust me. The |
| 658 | 02:03:58,050 --> 02:04:07,500 | markets will cease to exist before this stops working period. If I believed by making it public, it would change or stop it. You never, you never would have |
| 659 | 02:04:07,500 --> 02:04:22,020 | heard of me. So trading out into the old fair bagel, what is it offering? sellside again, here and the order block. So how many factors do you have here, |
| 660 | 02:04:22,290 --> 02:04:38,940 | leading to the likelihood of these relative equal highs? Much like they were over here? What's above here? Same thing we have here from a narrative by side |
| 661 | 02:04:41,430 --> 02:04:52,170 | what, what the price do from here? Drop down to what? Toilet low? Why did it do that? It took ourselves like why would it be advantageous for the algorithm to |
| 662 | 02:04:52,170 --> 02:05:03,120 | reprice all way down here? You're trying to tell me that only short sellers came in here. Nobody bought That's what drove price down exactly to the fair value |
| 663 | 02:05:03,120 --> 02:05:13,710 | gap that I outlined beforehand. So every trader out there knew the fair value gap. You all just discovered it this year. My mentorships students learned about |
| 664 | 02:05:13,710 --> 02:05:27,060 | it in 2016. I've been using it for 26 years. So you're wrestling with trying to find a rhyme and a reason as to why I can do this and why my students are able |
| 665 | 02:05:27,060 --> 02:05:36,120 | to do this. And you can find another similarity to something else. And lean on retail logic as to why the markets book Oh, it's just auction theory. No, it |
| 666 | 02:05:36,120 --> 02:05:50,940 | ain't. Oh, no, it's not. It's not anybody, anybody that sits down and does the work of going through what I'm teaching you, that's dismissed immediately. The |
| 667 | 02:05:50,940 --> 02:06:02,010 | volume of how many contracts are traded is irrelevant. When they want the market to go to a price level, it's going to that price level regardless, regardless of |
| 668 | 02:06:02,010 --> 02:06:11,610 | how many buyers and sellers they are, why would it be advantageous for this level to be taken out? Because it's allowing traders that would be looking for |
| 669 | 02:06:11,940 --> 02:06:21,570 | higher prices, keying off of that discount array, which is the ferry I get on our chart, that blue shaded area down here, that I tweeted beforehand, before it |
| 670 | 02:06:21,570 --> 02:06:33,810 | even went there? And look at the look at turning point of that? Is that not beautiful? When I was a younger man, when I first started to learn how to trade, |
| 671 | 02:06:34,260 --> 02:06:44,700 | I never imagined that there would be this level of precision available. Anyway, could see it before it happens. And you all get the walk with me every day, |
| 672 | 02:06:45,150 --> 02:06:55,440 | every week. And I'm showcasing it, no deleted tweets. It's all there, bringing the receipts all year long. All you have to do start paying paying more |
| 673 | 02:06:55,440 --> 02:07:02,070 | attention to it. And what does it mean to you? What is it communicating to you? Because there's lots of trades here, based on what I've just shown, there's many |
| 674 | 02:07:02,070 --> 02:07:11,280 | trades that you can take. But this movement here was the catalyst that sent us up into the box of liquidity that I talked about in this live stream. That's |
| 675 | 02:07:11,280 --> 02:07:27,090 | where it's going to go next. What does that mean? It's not going below that low? Your focus was placed up here. Did it not do it? It did. Is it a big deal? No. |
| 676 | 02:07:27,780 --> 02:07:37,290 | But to a new student, for a new viewer, a casual viewer? Well, I was kind of lucky. We get lucky a lot around here. Like it's it's a reoccurring phenomenon. |
| 677 | 02:07:37,290 --> 02:07:50,250 | And really, I don't personally believe in luck, but it is what it is. But then we run from the waterblock. up to and through that buyside liquidity runs above |
| 678 | 02:07:50,250 --> 02:08:05,640 | it comes back down. works inside this range here. What's this down close candle? What's this right here? It's the same thing. This is it's an order block. It has |
| 679 | 02:08:05,670 --> 02:08:16,080 | absolutely nothing to do with how many contracts are bought or sold, has nothing to do, how many orders are resting on the depth of market, the DOM, using |
| 680 | 02:08:16,080 --> 02:08:24,450 | ladders and stuff like that market rope bucket profile point of control all those things, I have not a believer in it. If you make money and you use that |
| 681 | 02:08:24,450 --> 02:08:35,100 | stuff, and you attribute your profits to that, then well done. That's what you believe that's what you subscribe to. And I'm not going to have any any ability |
| 682 | 02:08:35,100 --> 02:08:43,710 | to defer your attention to anything else if that's what you subscribed to. And you shouldn't even pay any mind. If you're making money. It's irrelevant what I |
| 683 | 02:08:43,710 --> 02:08:54,930 | say. No matter what it is you use. If you're making money, don't tinker with it. But don't say that's what's making the market go higher and lower because then |
| 684 | 02:08:54,930 --> 02:09:04,230 | we will argue, but this is an order block. Okay, it's a downloads candle prior to the change in the state delivery, which is the current rate that opening |
| 685 | 02:09:04,230 --> 02:09:17,610 | price extending out in time, as soon as that price is touched and crossed to the upside. That is equivalent to a market structure shift. At that moment, this |
| 686 | 02:09:17,610 --> 02:09:35,670 | entire range here becomes sensitive to future returns to it. And I'll explain that in a minute. And ICTs poor clinic price action clinic today. So down close |
| 687 | 02:09:35,670 --> 02:09:43,470 | candle displacement to down obstructed upside. What's the opening price? Why is the opening price low because there's no wick? Well, why did you use the opening |
| 688 | 02:09:43,470 --> 02:09:50,580 | price down here? It didn't take I'll get back to that digit. Why don't you do it on the wick because whenever is a short little stubby work like that. I just |
| 689 | 02:09:50,790 --> 02:10:01,350 | immediately go right to the opening price. This is because I've traded Forex, and forex has a lot of spread issues. And that was were adopted the ruleset. |
| 690 | 02:10:01,710 --> 02:10:13,920 | There is. But the hard and fast rule is if it's a really little small little wick, just go to the body open. market trades down into it here. Look how much |
| 691 | 02:10:13,920 --> 02:10:30,030 | around the midpoint of that candle, which was mean threshold half of a gap, or inefficiency is consequent encroachment, it's the midpoint. If, if we have a |
| 692 | 02:10:30,030 --> 02:10:38,520 | order block, that's not a gap that's on a fair value gap, it's a, it's a specific range in one candle. And you split that in half, that's mean threshold. |
| 693 | 02:10:39,120 --> 02:10:51,600 | Look where they're going for here. If these candles, boom, half, half, here, half, and then breaks higher. what's occurring rate on this candle. Let me zoom |
| 694 | 02:10:51,600 --> 02:10:53,130 | in here, because I want you to really get this. |
| 695 | 02:10:56,340 --> 02:11:04,560 | When I'm watching my real time trades pan out, you see the recordings of it and you see me annotating as it's going, and I'm drawing lines on it. And I'll say I |
| 696 | 02:11:04,560 --> 02:11:13,410 | want to see it run from here. And I want to do this, I'm doing all that with one minute candles. So I'm looking at price, internalizing receiving what it is I'm |
| 697 | 02:11:13,410 --> 02:11:21,420 | seeing in price delivery, then I'm articulating a way of communicating to you, then I have to go to my keyboard and I have to type it out. And then sometimes I |
| 698 | 02:11:21,420 --> 02:11:29,220 | have to correct the typos. And then still maintain my focus on the chart. Now imagine all that going on with somebody that has attention deficit like I have, |
| 699 | 02:11:30,210 --> 02:11:37,410 | it's hard, it's very, very hard for me to do this, to communicate it on a one minute chart, there's no way to fake that. There's no way I could be managing |
| 700 | 02:11:37,440 --> 02:11:46,650 | another chart somewhere else. Another my I have moles right now I'm staring at eight monitors in front of me. But I'm holding a laptop, this laptop is away |
| 701 | 02:11:46,650 --> 02:11:54,600 | from my trade desk, but I'm in the room with them, those screens are not even on. And when I'm doing everything through the recording with Camtasia, I'm |
| 702 | 02:11:54,600 --> 02:12:05,010 | recording and I only record with a laptop on aisp That's only synced to this one, my Trading Computers are using a different ISP, I'm never going to record |
| 703 | 02:12:05,010 --> 02:12:12,030 | off of those, you're never going to see my TradeStation charts, you're never gonna see those things. You're not. So don't ask for it. And you're not, you're |
| 704 | 02:12:12,030 --> 02:12:20,490 | not, I'm not making you that close of a friend to me, okay, it's not to be rude or anything, but you don't need to see those things. Everything I'm teaching is |
| 705 | 02:12:20,490 --> 02:12:28,950 | communicated through TradingView. And I'm using a laptop because if I do get hacked, which I've had multiple instances of since 2006, they're not getting |
| 706 | 02:12:28,950 --> 02:12:40,680 | anything here. There's no credit cards, there's no nothing personal nothing. It's just the ISP connected to YouTube, and trading you That's it. That's it. So |
| 707 | 02:12:42,090 --> 02:12:56,400 | I didn't say that I'm sorry. But when we leave, when we leave this consolidation inside this order block, okay? drops down into here, I mean threshold is here |
| 708 | 02:12:56,400 --> 02:13:06,210 | for the order block. So half of this range, I'll show you that. This is what you want to do with your favorite gaps. And what you think is an order block. So |
| 709 | 02:13:06,210 --> 02:13:07,680 | 4027 even. |
| 710 | 02:13:14,490 --> 02:13:24,510 | Okay, 4027, even in my mind, I'm watching on a boardwalk, I'm watching the high to the midpoint, I want to see it show a willingness to support price. |
| 711 | 02:13:24,900 --> 02:13:34,650 | Preferably hit it and quit it and run the other direction real quick. That's what I'm really looking for. But if it starts doing this, as long as it's |
| 712 | 02:13:34,650 --> 02:13:43,320 | respecting that midpoint down here, I'm okay with it. I'm more specifically going to be watching if it starts to consolidate, I'm going with like six |
| 713 | 02:13:43,320 --> 02:13:51,120 | contracts, I'm doing my typical go in, I buy six contracts, and I'm going to try to parlay it up and build a bigger position. What would I do in this instance, |
| 714 | 02:13:51,870 --> 02:14:01,860 | using the order block going in right there at that price, I'd be going long on the first return to there. So I'll go long six contracts there. As it's digging |
| 715 | 02:14:01,860 --> 02:14:11,250 | down, I'm gonna watch this I want to go to the mean threshold mean threshold is half of an order block or half of a breaker or half of mitigation block and go |
| 716 | 02:14:11,250 --> 02:14:19,140 | back through my core content, you'll see all that stuff is on the YouTube channel. Then I would buy three right here on this channel as it hits the mean |
| 717 | 02:14:19,140 --> 02:14:28,260 | threshold. So now would be long nine contracts. If it runs like it does here and then one more time pumps into it one more time. Then I'm doing my one last |
| 718 | 02:14:28,260 --> 02:14:43,350 | contract and I'd be long net 10 contracts 631 hoping that I can get the little wick through in the midpoint trusting that isn't gonna go the other side. So |
| 719 | 02:14:43,350 --> 02:14:52,350 | you're thinking how do you know ICT then think I've got to know that. How can you trust that ICT experience knowing that it's likely to do what I'm explaining |
| 720 | 02:14:52,350 --> 02:15:04,890 | here, and also being comfortable with being wrong? Because I can be wrong and be profitable. I can be right. And be not as profitable as I should have been. |
| 721 | 02:15:05,490 --> 02:15:15,840 | There's, there's a gray area where experience dictates the outcome. And I don't make any sugar coated claims to make you not understand it's going to take you |
| 722 | 02:15:15,840 --> 02:15:28,440 | work to study this. But over time, you'll see it in time does its work. But when we when we see this range here, the midpoint of the, the order block, once it |
| 723 | 02:15:28,440 --> 02:15:44,190 | leaves it, okay, once it leaves that what's this candle right here? This is a proportion block. It's an order block within this order block. So it's a nested |
| 724 | 02:15:44,190 --> 02:15:55,500 | level. I love this formation. I love it. Let me show you why I love it. What's the opening price? was the opening price on the candle right here? You should |
| 725 | 02:15:55,500 --> 02:16:14,850 | see it right up here. 402 9.25 Okay, 4029 and a quarter. That price to its high, written here. That is one of the most sensitive bullish order blocks really |
| 726 | 02:16:15,210 --> 02:16:25,230 | responsive, quick, sudden, like it's like, it's like you want to see a dynamic movement. It's going to really do it on this. Like, show me the order blocks at |
| 727 | 02:16:25,230 --> 02:16:32,130 | work. Well, here's that lesson. Here's that lesson, folks. You're probably listening to me driving in your car while you're working your forklift at work |
| 728 | 02:16:32,130 --> 02:16:40,920 | and scooping ice cream in it. Bob Evans or maybe not bothered? And what's the other? What's the ice cream place? Now? I gotta figure this out. Now I can't go |
| 729 | 02:16:40,920 --> 02:16:49,590 | past the Baskin Robbins so I was thinking wherever you're at you're working. He wished you probably would have watched this with the new with the notepad. But |
| 730 | 02:16:49,800 --> 02:17:01,020 | go back the just remember that we're talking about the proportion but this opening price to its high that is the absolute most sensitive area in order |
| 731 | 02:17:01,020 --> 02:17:01,770 | block theory |
| 732 | 02:17:08,160 --> 02:17:08,850 | what'd he say? |
| 733 | 02:17:14,760 --> 02:17:27,540 | What's the opening price of this candle? 4029 and a quarter? It goes through it. It leaves it on this candle. Does it not? Yes. The next candle we open here. |
| 734 | 02:17:28,230 --> 02:17:40,440 | What's the low of that candle? You're looking at this price right here. What's the low 402 9.25 Wait a minute. Wait a minute, deja vu something something |
| 735 | 02:17:40,440 --> 02:17:53,520 | different here? No, it's exactly the same. The opening price for zero to 9.25. Now I know pick your jaw up. Okay, pick your jaw up. And that again, is exactly |
| 736 | 02:17:53,520 --> 02:18:08,820 | what I taught you. It's core content lessons. Those videos were produced in 2016. It's logic that I coined in 1996 and it's never been in any books. It's |
| 737 | 02:18:08,820 --> 02:18:24,900 | never been taught and until I released it you cannot improve upon perfect you can't improve upon it. It doesn't fluctuate it doesn't fall short of it. It goes |
| 738 | 02:18:25,680 --> 02:18:40,140 | right to the tick and does what it delivers exactly the logic I teach you for for propulsion block the running price here you have several things you can look |
| 739 | 02:18:40,140 --> 02:18:40,350 | at |
| 740 | 02:18:46,860 --> 02:18:50,070 | you have the buy side relative equal highs here |
| 741 | 02:18:55,979 --> 02:19:05,249 | having too much fun now you guys asked for his live streams now you're going to be killed by him. Don't get on ICT don't get on I need to have a marriage. So we |
| 742 | 02:19:05,249 --> 02:19:21,149 | have buyside here. And also what is the highest looking here? Look in this area here. What is the highest closing price was the highest closing price right |
| 743 | 02:19:21,149 --> 02:19:36,359 | there. I'm going to walk through the pdra matrix with you okay. There. And what else do you have? What's the highest high right there? So this high? What have I |
| 744 | 02:19:36,359 --> 02:19:57,599 | taught you about that? wicks are gaps. What works or gaps? The midpoint of that gap is constant encouragement. It's 4036 Even what is the closing price on that |
| 745 | 02:19:57,599 --> 02:20:11,249 | candle for 1036 Even, yes, there's a small little wick. I don't care about that. I'm caring more specifically about the bodies. Because the body is going to tell |
| 746 | 02:20:11,249 --> 02:20:22,709 | you the narrative. The wicks are where the damage is done. The bodies are what I'm looking for that that's telling me the storyline. What's the opening price |
| 747 | 02:20:22,709 --> 02:20:40,559 | of the next candle? 4036 even, can you improve upon it? Know what happens after that recedes and goes lower does it offer from this point here buying into the |
| 748 | 02:20:40,679 --> 02:20:55,439 | propulsion block? From here to the first rejection block right here. That's the first of your premium arrays. Does it offer five handles there? Yes. What do you |
| 749 | 02:20:55,439 --> 02:21:02,909 | think I've been telling you five handles, five panels is all over the place, intraday. It's all over the place, there's so many opportunities to get that |
| 750 | 02:21:03,779 --> 02:21:14,219 | it's very forgiving for folks that miss a move, you can find it again, if you're using a one minute chart. Oh, I see the I wish I could just be able to afford to |
| 751 | 02:21:14,219 --> 02:21:24,299 | pay my utility bills a month, well start mining this and you might be able to do that. I can't promise it. But you might be able to do that. Let's go back to the |
| 752 | 02:21:24,299 --> 02:21:51,419 | propulsion block in here what does it leave? What does that mean? You can see it's a pretty big gap in it. How do you know it's going to stay open? The |
| 753 | 02:21:51,419 --> 02:22:02,909 | propulsion block. This shouldn't stay open. It should stay. I'm sorry. It should stay open. It should not fill in. This would act as what a breakaway gap. |
| 754 | 02:22:07,589 --> 02:22:21,059 | surface this is breaking away. I'm going to expect what price delivery to be more bullish candles. Very little retracement and maybe one or two down close |
| 755 | 02:22:21,059 --> 02:22:30,599 | candles everything else be what bullish delivery by side being offered. Coming down close candles you have from the precaution block to the consequent question |
| 756 | 02:22:30,599 --> 02:22:41,549 | of the wick one down close candle. Why is that important? You need to know the difference between signatures that are going to be favorable for you. If you |
| 757 | 02:22:41,549 --> 02:22:49,499 | start seeing a lot of consolidation and down close candles forming and booking in a price round that you're in. Chances are you're probably going to retrace |
| 758 | 02:22:49,499 --> 02:22:59,339 | and come back on your stop loss or it's not going to go in your favor anyway. So I'm looking at how does price continuously deliver? Is it given me bullish |
| 759 | 02:22:59,339 --> 02:23:08,609 | candles? Is it staying bullish each time? With the exception of this this candle here? Every candle was bullish. And I'm not worrying about all the little |
| 760 | 02:23:08,609 --> 02:23:17,009 | whipsaws back and forth because I'm not going to wrap my stop loss up there. Theoretically because I want to see it do what I wouldn't even roll my stop up |
| 761 | 02:23:17,009 --> 02:23:24,659 | until this short term High was taken out. Because above that is what a very small pool of bison liquidity by stops anyone that's shortly able to trail it |
| 762 | 02:23:24,659 --> 02:23:39,119 | from here to here. And then we move back into consolidation and we're entering what time of day noon that's lunch. I teach that you most of the time you're |
| 763 | 02:23:39,119 --> 02:23:47,249 | going to be squaring your position before noon. I'm not saying that I don't trade in lunch I do I have done but as a developing student you don't want to be |
| 764 | 02:23:47,249 --> 02:23:50,909 | doing that because you don't know the characteristics that are part of that. |
| 765 | 02:23:55,980 --> 02:24:11,070 | Alright, we're in the noon lunch hour. And at the time it's been going for two hours. More than two hours to like two and a half hours. It doesn't feel like it |
| 766 | 02:24:11,640 --> 02:24:20,190 | to me. Some of you probably think man this lifetime I'm gonna close this thing. I'm afraid I'm gonna miss some but it's getting on my nerves. It doesn't feel |
| 767 | 02:24:20,190 --> 02:24:37,350 | like a long time. For me it feels like I've been here for like 20 minutes. So if we were to look at the rest of the day, okay. We moved in a range that looks as |
| 768 | 02:24:37,350 --> 02:24:53,730 | if we've already taken sell side here with this drop. This is all to clean. I'm not trading the rest of the day. Okay, but I would watch this area here if it |
| 769 | 02:24:53,730 --> 02:25:02,850 | doesn't run for it. Going into the two o'clock hour and it leaves this low intact. If this low It stays intact. If it doesn't breach that low, I would look |
| 770 | 02:25:02,850 --> 02:25:10,650 | for the last hour trading to try to attack this. That's how I would look at it. Now that's just forecasting, that's not trading. That's not saying it's |
| 771 | 02:25:10,650 --> 02:25:18,780 | absolutely going to pan out that way. That's how I would plan like I would go get something to eat, and come back to my charts at 130. And see does everything |
| 772 | 02:25:18,780 --> 02:25:28,800 | I just said, exists on the chart, if this low stays intact, we haven't gone below it in this stays like it is nothing piercing it, then I would expect the |
| 773 | 02:25:28,830 --> 02:25:40,710 | final hour trading to reach for 4030. And I would plan my afternoon like that. And if it if I come back, and it has done that, then I would do nothing for the |
| 774 | 02:25:40,710 --> 02:25:49,350 | last part of the day. So that's how I plan my trades. That's how I plan my sessions. I think about the logic, just mapped out why they said what I said. |
| 775 | 02:25:50,010 --> 02:25:59,130 | And if it's anything other than I'm not interested, it can do something, it could completely collapse and go down below 4000 From where we are right now. |
| 776 | 02:25:59,790 --> 02:26:11,850 | That's not my trade. And that in that and that I'm not participating in it. I'm not claiming to be in every single swing, I am claiming that you can find very |
| 777 | 02:26:11,850 --> 02:26:22,230 | specific surgical strikes with precision. And it doesn't need to have any indicator, nothing that's going to be new, in addition to anything that I |
| 778 | 02:26:22,230 --> 02:26:34,710 | applied to my chart is just lipstick to essentially dial in your attention to a very specific element of price. I don't I don't have it on my chart. It's an |
| 779 | 02:26:34,710 --> 02:26:41,130 | adjustment for me to have these things. While I'm watching price. I annotate them. And then I turn my attention to my other charts. Because if I look at |
| 780 | 02:26:41,130 --> 02:26:54,270 | things I drawn on the chart, it's a distraction to me. Very obsessive, and it's very difficult. And you'll probably hear me vocalize that in certain times when |
| 781 | 02:26:54,270 --> 02:27:03,300 | I'm doing the live sessions, because it will be something that I wish I didn't have on the chart, but you're going to find it helpful to you because your your |
| 782 | 02:27:03,300 --> 02:27:12,780 | frame of reference needs to be anchored on some limitation and price action, not like everything that's been explained here doesn't even factor in all this over |
| 783 | 02:27:12,780 --> 02:27:20,820 | here. This is already done. This fractals done are very outlined, can you see when it's done, I've given you my expectation for the afternoon. This low, we |
| 784 | 02:27:20,820 --> 02:27:31,800 | ran out during the lunch hour, it only took it two minutes to get into lunch or to do it. So this drop down. I liked that. I liked the fact that we have |
| 785 | 02:27:31,800 --> 02:27:40,350 | relatively equal highs. I'm not trying to call a top in the marketplace. So I'm not going to arm wrestle that, that logic with retail tries to do they try to |
| 786 | 02:27:40,350 --> 02:27:50,070 | pick tops and try to pick bottoms, I don't want to do that. I look for where the obvious liquidity is. And the low here, they ripped through that in this low |
| 787 | 02:27:50,070 --> 02:28:02,100 | here. So we ran through that this is not smooth anymore. It's jagged. Where's their smooth levels, it's here. And if it was to drop through this low, I don't |
| 788 | 02:28:02,100 --> 02:28:13,860 | do anything. I just take the rest of the day off. Now think about that for a second. Doesn't that sound like someone that has put together? They're not just |
| 789 | 02:28:13,860 --> 02:28:24,420 | jumping around and reacting to price. They can plan their day, they can plan how they're going to engage the marketplace. They're not chasing something, they're |
| 790 | 02:28:24,420 --> 02:28:34,140 | not fearful of missing a move? I've outlined it does any of these things, then I'm not interested? Do you have that in your system right now? Chances are, if |
| 791 | 02:28:34,140 --> 02:28:44,040 | you're new, you don't know. Those are things that experience teaches you to consistently profitable traders, I'm gonna say this in closing, they have |
| 792 | 02:28:44,070 --> 02:28:56,070 | processes to get into a trade. That's without saying, obviously, they also have processes that keep them out of the marketplace, for various reasons may be an |
| 793 | 02:28:56,100 --> 02:29:07,800 | economic report that's due that it's going to invite a lot of volatility. Or it may be a expectation that the market does, in fact, do nothing. And it's not |
| 794 | 02:29:07,800 --> 02:29:16,920 | imperative for them to engage right now and no wait for later time for the market to get more animated. And then they'll participate that they're not an |
| 795 | 02:29:16,920 --> 02:29:26,700 | I'm not. And my students that have adopted this mindset, we're not worrying about missing a move. And if a move was to manifest itself, and rip and tear off |
| 796 | 02:29:26,700 --> 02:29:36,960 | and do something phenomenal, and we aren't a part of it, we're not breathing over that. Because we know that we can find repeating phenomena in price action |
| 797 | 02:29:36,990 --> 02:29:45,900 | that are rooted in statistical probabilities that you can go back and see many times have that very thing occurring. But it's not the same thing as saying, |
| 798 | 02:29:45,930 --> 02:29:54,180 | like I've taught and this is a joke right there on Twitter right now trying to make a name for himself because he's French to some numbers. In my lectures, I |
| 799 | 02:29:54,180 --> 02:30:08,670 | teach that it's in a bearish model. Okay, it's in a sell model, the high that we tends to form 70% of time on Tuesday. If you take every week, indiscriminately, |
| 800 | 02:30:10,110 --> 02:30:19,410 | and look for does it form the high on Tuesday, between two o'clock and four o'clock in the morning, you're gonna get data that doesn't support that you |
| 801 | 02:30:19,410 --> 02:30:29,910 | don't even define what a sell model is. And I do. So having that mindset, I'm not going out there every day, thinking the high of the week is going to be on |
| 802 | 02:30:29,910 --> 02:30:39,690 | Tuesday, or the low of the week is going to be on Tuesday, between two o'clock, four o'clock in the morning. There has to be other factors that filter that. And |
| 803 | 02:30:39,690 --> 02:30:48,120 | that's what happens when people come to my content. And they cherry pick things that they hear me say, and they take it completely out of context. But then, |
| 804 | 02:30:48,120 --> 02:30:59,160 | when you sit down with me, and I'm outlining things real time before it happens, they get quiet. They want to talk about things that aren't true. And they're |
| 805 | 02:30:59,160 --> 02:31:08,220 | gonna try to distract you. And you need to think about what it is that you're seeing what you're witnessing, what you're seeing other people profit with real |
| 806 | 02:31:08,220 --> 02:31:24,630 | money. Is there more things here inviting you to dig deeper, for free? Or is there a warning sign saying, I better not touch this, this ICT content is, is a |
| 807 | 02:31:24,630 --> 02:31:32,340 | plague we need to teach people to stay away from it. You're gonna hear a whole lot more that as the year goes on, because you're not supposed to learn this. |
| 808 | 02:31:32,610 --> 02:31:41,070 | Right now. It's just jokers and people that are jealous, but I'm telling you watch and see how it just starts to manifest. There is going to be a lot more |
| 809 | 02:31:41,370 --> 02:31:51,960 | spotlight placed on the things that I'm teaching here. And it's going to be a whole new level of campaign the smearing. That's okay. You ain't changing |
| 810 | 02:31:51,990 --> 02:32:06,030 | anything. You ain't stopping anything? Because it's already on the back. It will repeat every week. Every day, it will stop. I do hope you had fun with me today. |
| 811 | 02:32:06,150 --> 02:32:22,440 | I hope you had some learning. Hopefully, you picked up some things and you've adopted some new approaches and techniques and thought processes. I just want to |
| 812 | 02:32:22,440 --> 02:32:40,830 | scan through real quick before I close. NASDAQ is ugly. The Dow. Yeah, look at this. Look at this, you should be seeing the NASDAQ. That price action on the |
| 813 | 02:32:40,830 --> 02:32:53,820 | right hand side. That rate there is a day that says Don't touch me. Now you might see that thinks something else. But I'm saying that right there tells me |
| 814 | 02:32:54,150 --> 02:33:07,950 | Don't touch me. Because I say don't touch the NASDAQ was closely correlated to NASDAQ. Yes. So if it's a no touch on NASDAQ, then it's a no touch on what? Yes. |
| 815 | 02:33:10,170 --> 02:33:21,480 | They have to confirm one another. If I don't see a sustained move in all three of the averages. And here's the Dow if I don't see a justification for them to |
| 816 | 02:33:21,510 --> 02:33:33,900 | move in agreement, it gives me the market breadth to trust that we have a sustainable price move underway. If one of them acts like a six Sister, this one |
| 817 | 02:33:33,900 --> 02:33:45,210 | here's like a hobbling bum leg. It's not doing all that much in terms of symmetry. This is all over the place. Looks like a heart attack. That's your |
| 818 | 02:33:45,210 --> 02:33:45,840 | warning sign |
| 819 | 02:33:45,840 --> 02:33:55,830 | that you're probably trading with low probability conditions. So going back to ES while I do believe that those highs could be taken out, because of what I've |
| 820 | 02:33:55,830 --> 02:34:05,190 | just shown you in this deck, I'm probably going to be incorrect. So I've subscribed to something publicly. But I'm also communicating the reasons why I |
| 821 | 02:34:05,190 --> 02:34:16,080 | personally will not be going back in to take a trade because of what we're seeing in NASDAQ now doesn't have this army. It gives you a reason to say okay, |
| 822 | 02:34:16,110 --> 02:34:24,630 | I'm not going to be doing something and I'm okay with not doing not I don't know what I'm doing. But I feel like I'm missing something. Big difference, isn't it? |
| 823 | 02:34:25,290 --> 02:34:34,770 | So that type of feeling that comfort comes from someone that's been doing it for a while, and traders that have been subscribing to me my Twitter feed. They have |
| 824 | 02:34:34,770 --> 02:34:48,570 | been benefiting from that because they've seen a lot of well, things that would otherwise be distracting. Not really providing any clarity as to what they would |
| 825 | 02:34:48,570 --> 02:35:02,040 | expect as a trader, what they would be dealing as a trader, and how to think as a trader and what well, how to conduct themselves and think and these are |
| 826 | 02:35:02,040 --> 02:35:11,910 | lessons you have to walk with someone doing it. You can't just read it in a book, it doesn't communicate well. You have to walk with that person doing it |
| 827 | 02:35:11,910 --> 02:35:21,990 | live, seeing what they would think about at this moment, at this juncture, does the things that you were hoping to see in price action? Does that still ring |
| 828 | 02:35:21,990 --> 02:35:33,720 | true now? And if it doesn't, why doesn't it? And if it doesn't communicate why that's useful, and how can we can take that insight and move forward with it |
| 829 | 02:35:33,720 --> 02:35:41,160 | that way we won't hurt ourselves as students. That's my motivation. That's what I'm trying to do. Because I've already taught you how to trade I'm |
| 830 | 02:35:46,410 --> 02:35:55,920 | not sure what just happened, that it's connected, reconnected, hopefully, I promise you, you will not regret having learned this. You'll do amazing things |
| 831 | 02:35:55,920 --> 02:36:02,310 | with this information in your personal life doesn't mean you're getting rich. It just means that you're going to do amazing things, and your direction of your |
| 832 | 02:36:02,310 --> 02:36:13,710 | life is gonna change. You'll be more organized the way you take on risks in every aspect of your life. And to me, that's a success. So that's it for this |
| 833 | 02:36:13,710 --> 02:36:19,830 | one. Hopefully, you found it insightful. Hopefully you found it encouraging. And until next time, be safe. |