ICT YT - 2023-03-15 - Live Tape Reading
Last modified by Drunk Monkey on 2023-03-16 11:39
Outline
01:36 - Audio check.
02:59 - Daily chart of the day.
07:46 - What we’re seeing in the morning session.
10:42 - Why you need to anticipate trading the afternoon session -.
17:24 - What’s gone on so far this week.
25:08 - What is the fair value gap?
29:55 - Dollar index is not lending any clues of weakness yet.
34:08 - Price swings within price swings within price swings.
38:01 - How could you use this as a model if you wanted to trade this and be short?
45:24 - How do I add the nasdaq chart at the bottom of my trading chart?
52:16 - What is choppiness? -.
55:40 - Retail traders are doing what 90% of retail traders are doing -.
01:01:53 - The difference between what I’m teaching you and what you learn anywhere else.
01:10:04 - When does the next big move usually occur?
01:13:10 - When do we engage when do we engage? When do we anticipate certain things?
01:19:31 - Where’s the market drawing to win the weekly and daily charts? Where’s the inefficiency?
01:22:45 - Is there any fair value gap below market price? Does that range offer opportunity for you to get at least five handles?
01:29:15 - How to trade with real money -.
01:36:15 - It’s not the buying and selling pressure, it’s the immediate feedback.
01:39:32 - What are you aiming for in this expansion?
01:46:05 - If you don’t do all these things, you will fail.
01:49:23 - What are they failing to do? They’re failing to find something that matches their personality, they’re failing to understand what makes
01:54:54 - Michael’s story of how he got into trading.
02:01:02 - Why he’s a book smart guy -.
02:04:02 - When you need help with something, they’re there to scratch your back.
02:09:35 - Why you should not learn how to trade with a live account -.
02:15:44 - What’s in vogue now is failure.
02:20:06 - The first step to entering the market is to know where it's going.
02:26:44 - You need to give yourself a cheerleading session before you open up the opportunity for trolls.
02:29:55 - When you’re in line, it’s the mental side of things that are not really trading.
02:36:23 - Why you have to know exactly what you’re looking for.
02:43:55 - Don’t be your own cheerleader.
02:48:27 - Identifying where you’re at in your career -.
02:53:37 - What’s going to happen if the index goes above $1,000?
02:57:21 - How to interpret forecast consolidation days and consolidation sessions.
03:02:49 - How do you know you’re ready to trade with real money?
03:09:07 - The downside open on this candle traded up, traded down.
03:11:11 - Is this a day you would have felt good about participating in or would you have regretted it?
03:15:35 - What is a day that you’d rather be doing something else?
Transcription
| 1 | 00:01:36,570 --> 00:01:45,540 | ICT: Good morning, folks. It's waiting for an audio check. You guys can hear me on Twitter. It's give me a heads up if I buy five of you here |
| 2 | 00:01:55,050 --> 00:01:59,670 | I can hear myself on the playback. So you should be seeing or hearing me fine |
| 3 | 00:02:14,670 --> 00:02:28,020 | thank you Leon Thank you. Thank you. Thank you. Alright, so we're running a little bit late here this I got a new microphone. Okay, so I'm trying to make |
| 4 | 00:02:28,020 --> 00:02:45,630 | sure everything's set up appropriately. We've had a large expansion overnight and we are looking at the E s future contract for June delivery. So on trading |
| 5 | 00:02:45,630 --> 00:03:01,530 | view your symbol so you can track it on your own that's your symbol right here. Okay. So you enter that into trading view. If you have live data, you'll be able |
| 6 | 00:03:01,530 --> 00:03:09,240 | to see what I'm showing you here. Otherwise this track it with what I'm showing on my string |
| 7 | 00:03:14,820 --> 00:03:27,390 | right so one of the things I'm looking at is this well here and we'll have these in a color I usually don't like to use not that there's an issue with it |
| 8 | 00:03:35,550 --> 00:03:44,460 | Okay, so right now on the daily chart, this is our dealing range. And dealing range is where we are in terms of the highs and the lows most salient at the |
| 9 | 00:03:44,460 --> 00:03:58,710 | moment. Meaning that yesterday's up close that high. That's important to me. In this low is important. This is the dealing range that we're presently within. |
| 10 | 00:04:00,960 --> 00:04:09,510 | We've already worked this wick here today. So I'll be watching to see if they want to revisit that as well. |
| 11 | 00:04:14,640 --> 00:04:24,510 | Okay, so the consequent question that wick comes in at 3867 and a quarter and the low came in at 65 Even. |
| 12 | 00:04:58,200 --> 00:05:09,570 | That way we can do it With that level is when we drop in the lower timeframes. Okay, so it's this constant encouragement of this wick here. And with this |
| 13 | 00:05:09,570 --> 00:05:19,020 | information here, if we if we happen to trade lower, and I don't suspect that we are right now, but if we haven't go below this low that my attention goes over |
| 14 | 00:05:19,020 --> 00:05:45,960 | here. Okay? Let's drop into our chart Alright, so we had a difficult time trying to get through the 70 twos. This hire here comes in at 70 and a quarter. I |
| 15 | 00:05:45,960 --> 00:06:01,410 | yesterday came in at 72 Point 50. Failed here rolled over. There's a lot of news about obviously, the banks failing and such. And it looks like the narrative is, |
| 16 | 00:06:01,410 --> 00:06:13,380 | is they're trying to get folks upset and worried and instilling fear. So we're not worried about any of that stuff, but because you're not going to stop with |
| 17 | 00:06:13,470 --> 00:06:27,240 | those. So worrying about it doesn't make it any better. One of the things that I'm looking at is obviously there's a lot of smoothness up here. And with the |
| 18 | 00:06:27,240 --> 00:06:30,900 | drop overnight, we've taken out these lows here. |
| 19 | 00:06:36,270 --> 00:06:47,880 | So right away, I want to let you know that I'm in no hurry today. To draw a hard line bias. Yesterday, I do a fairly good job of walking you through live action |
| 20 | 00:06:47,880 --> 00:06:56,340 | multiple times, pretty precisely. So if you haven't gone through my Twitter yesterday, you might want to do that drop the tweets into your trading a chart |
| 21 | 00:06:56,340 --> 00:07:00,180 | and you'll see that the precision was on par |
| 22 | 00:07:06,360 --> 00:07:13,440 | This magnet thing is strong. per second. |
| 23 | 00:07:18,480 --> 00:07:27,780 | Okay, so what I'm looking at, I'm looking at these, these lows here, and this low here. So it's kind of like three lows relatively equal. We went down below |
| 24 | 00:07:27,780 --> 00:07:33,450 | that so far today, we have city here, south on a balance by side and efficiency. |
| 25 | 00:07:41,220 --> 00:07:49,380 | So we're watching to see how much of this range in here we want to revisit. Right now I'm showing electronic trading hours. So I'm going to toggle to |
| 26 | 00:07:49,380 --> 00:08:01,050 | regular trading hours. So you can see the difference in here. This is where we're opening versus where we closed yesterday. So there's a significant |
| 27 | 00:08:01,050 --> 00:08:17,850 | discount. from yesterday's close to now this morning's opening. When it's this well prominent, I would look to the low of the last candle. So we'll be noting |
| 28 | 00:08:17,850 --> 00:08:27,240 | that here as well. So this is what I'm typically doing in the morning session that you don't see all behind the scenes and such I don't have these levels |
| 29 | 00:08:27,240 --> 00:08:37,200 | really drawn on my chart, I want some recording and execution so that we can come like follow along. But the logic is, is we could revisit this here. And |
| 30 | 00:08:37,200 --> 00:08:47,640 | that in my opinion would be a gap closure doesn't require going all the way back up to yesterday's closing price using regular trading hours. Okay. So, in short, |
| 31 | 00:08:47,640 --> 00:08:59,700 | what I'm saying is we have a soft, soft bias to return potentially to 3914 50 That's my interest that doesn't mean I'm going to go long it doesn't mean that |
| 32 | 00:08:59,700 --> 00:09:13,530 | you should go long it just that's what I'm watching that's what I'm monitoring so with that level here I'm going to make that level black just so I can keep |
| 33 | 00:09:13,530 --> 00:09:19,080 | track of what it is for me. Now make a little bit thicker than I normally would |
| 34 | 00:09:24,540 --> 00:09:42,270 | Okay. So we'll drop back down into electronic trading hours now. Alright, so now notice also by having that there 914 50 level annotated, which is the last |
| 35 | 00:09:42,270 --> 00:09:54,030 | candle of yesterday's trading before the session ended for regular hours. That also is really close to what luminous candles wick consequent encouragement. So |
| 36 | 00:09:54,030 --> 00:10:07,860 | while it could dig up into this range more it could go as far as the The previous day's last hour trading candle. And what's happens to be constant |
| 37 | 00:10:07,860 --> 00:10:15,870 | encouragement on that wick strap into a 15. |
| 38 | 00:10:31,710 --> 00:10:45,360 | On a day like this, where we have such a huge move overnight, your first rule of thumb is slow down. In fact, it's better for you to actually anticipate trading |
| 39 | 00:10:45,390 --> 00:10:56,340 | the afternoon session. Because the morning session, usually it chops around, it gives false moves, then consolidates, and just does a lot of potentially seek |
| 40 | 00:10:56,340 --> 00:11:03,480 | and destroy, so you can destroys where it goes above short term highs below short term lows and goes right back to the middle. And then later in the day, |
| 41 | 00:11:03,900 --> 00:11:16,950 | there's this big expansion move where it draws to liquidity that hadn't been tapped for a while. So I'm not, I'm not comfortable yet giving you a bias. Like |
| 42 | 00:11:16,950 --> 00:11:27,960 | when I tweet, I'm pretty much confident about what I'm saying because I wouldn't tweet it otherwise. And it's it's predominantly incorrect. Here, the rules and |
| 43 | 00:11:28,110 --> 00:11:34,620 | protocols that we're utilizing is right out of the notes, when I teach on my YouTube channel, my students have been with me for a long time, they know this |
| 44 | 00:11:34,620 --> 00:11:43,410 | is not something being foreign fitted for today, whenever there's a large move or a large range, the very next morning session, you have to be very careful not |
| 45 | 00:11:43,410 --> 00:11:54,870 | to try to go in and chase because we've had an expansion. And what that means is look at the ranges here on these candles, the sizes. Okay, relatively small. And |
| 46 | 00:11:54,870 --> 00:12:08,970 | then as it drops, it gets large. So we had this big movement, lower attacking sell side, we've not been able to trade above the 39 7250 level, we failed to |
| 47 | 00:12:08,970 --> 00:12:22,890 | get above that here. And just overall this weakness rolling overnight. Because it's moves so many handles and a handle was a point, one point would be 3871 to |
| 48 | 00:12:22,890 --> 00:12:39,360 | 3872. That's for texts, we've moved about 90 handles or so just almost about 100 handles, that's a significant price move. And to do it all in one session |
| 49 | 00:12:39,390 --> 00:12:51,630 | overnight in the London session going into the early hours of New York session. You just want to be careful not to don't try to chase it. In other words, and |
| 50 | 00:12:51,900 --> 00:13:02,610 | try to avoid trying to pick up reversal either. If I could go back in time, and show you where I've done the most damage to myself. It's trying to chase these |
| 51 | 00:13:02,610 --> 00:13:13,860 | moves after they've happened. And you just got to be very, very careful not to do that. So I'm going to walk you through this morning, as best as I can based |
| 52 | 00:13:13,860 --> 00:13:22,770 | on what we're looking at. But my interest, I want you to know this going forward, my interest is in the afternoon session. So two o'clock to four o'clock |
| 53 | 00:13:22,920 --> 00:13:32,730 | in that two hour window. So you're probably asking yourself, you know, why didn't you want to just do a live session then. Because I have a family. I have |
| 54 | 00:13:32,730 --> 00:13:42,090 | things I have to do today. So I'll be tweeting to everyone through my phone, walking around looking at charts from my phone. But it's important for you while |
| 55 | 00:13:42,090 --> 00:13:51,570 | you're here going through this mentorship to learn how to navigate that way when I stopped doing these, at the end of the year, second week of November, you'll |
| 56 | 00:13:51,570 --> 00:13:59,100 | have a procedure to follow yourself and rules that you've utilized watch me utilize and you'll understand why those rules and procedures are even been in |
| 57 | 00:13:59,100 --> 00:13:59,580 | place. |
| 58 | 00:14:09,210 --> 00:14:19,620 | So there's a there's a fair value gap that lines up exactly with this mitigation block. Now mitigation block is think of like a breaker. Most of you understand |
| 59 | 00:14:19,620 --> 00:14:31,020 | what the breaker is it's a high if it's bearish, a high low and a higher high and the low in between. Inside that low when you drop down to a lower timeframe, |
| 60 | 00:14:31,050 --> 00:14:45,450 | the down close candle in that low. That would be the bearish breaker. In this case we have a high a low, a lower high that eventually went through that is |
| 61 | 00:14:45,450 --> 00:14:56,730 | mitigation. Mitigation is a failed breaker, but the operate the same way. Nobody's treat it like real support resistance. It's it's not a matter of |
| 62 | 00:14:56,730 --> 00:15:08,730 | looking for where the market turned in previous data. That's, unfortunately, the misinformation that books and other educators and I fell victim to that too in |
| 63 | 00:15:08,730 --> 00:15:17,190 | the beginning, looking at just where the market turned around before, and thinking, okay, that's support that's resistance, there has to be some context |
| 64 | 00:15:17,190 --> 00:15:30,510 | as to why there was a turn there. And in this instance, in this high here, ran through liquidity over here, came down, tried to rally once more, and was unable |
| 65 | 00:15:30,510 --> 00:15:44,130 | to get above the previous high even through all this. So anyone that would be long here, once we dropped down below it, the concept of mitigation block is the |
| 66 | 00:15:44,130 --> 00:15:56,820 | same with a breaker. If someone on an institutional level is long, when it trades back to this level here, it allows them to mitigate that potential losing |
| 67 | 00:15:56,820 --> 00:16:06,630 | trade or drawdown, meaning that any Long's here that are underwater, that means they're holding on to a while dropping against them. When it returns back into |
| 68 | 00:16:06,630 --> 00:16:17,010 | it, it's offer them an opportunity to mitigate order blocks don't mitigate. Okay, price isn't mitigating, hear a lot of folks in the community and outside |
| 69 | 00:16:17,010 --> 00:16:28,680 | my personal community. And they'll say those types of things and mitigation, that word is thrown around a lot when it's really mislabeled. So the object is, |
| 70 | 00:16:29,640 --> 00:16:39,060 | because this market rallied here, but failed to take out that high. And we have a fair value gap there. Our focus is the watch this one here. Now, more |
| 71 | 00:16:39,060 --> 00:16:55,200 | specifically, if we get through this fair value gap, I'll draw it on the chart now. You can see how we're gravitating to it now. Just like magic. |
| 72 | 00:17:02,760 --> 00:17:18,090 | Okay, so the fact that we pulled back up to this level, and it's a fair value gap, this level here to me is important, because it can act as resistance, it |
| 73 | 00:17:18,090 --> 00:17:28,020 | can fail, in order to fail to trade through it, which is what we would reasonably expect. Because Long's here, they're underwater, they're going to |
| 74 | 00:17:28,020 --> 00:17:38,880 | want to do what to get out of it. Not that it causes the market to go down because of selling pressure. It's allowing the markets allowing those |
| 75 | 00:17:38,880 --> 00:17:52,530 | individuals that are using things outside of retail to get out of that long position. So what I like to do is like the read the interpretation of each PD |
| 76 | 00:17:52,530 --> 00:18:02,760 | array, where they lay out in the chart, and because we are in a day or morning session that has seen a large range expansion overnight in the London session, |
| 77 | 00:18:05,400 --> 00:18:16,230 | it's going to be a hard sell for people to want to be long, and doesn't mean that the market can't go high. But I want to see a lot of things in my favor |
| 78 | 00:18:16,230 --> 00:18:31,950 | that would support a run. If I were being honest with you, I'd like to see it run up and take out the 65 level 3965. I'd like to see that. It may not do that. |
| 79 | 00:18:33,120 --> 00:18:47,070 | But I'm watching that today, because I'm very I'm very leery the trust what's gone on so far this week. And I mentioned on Twitter that this week was going to |
| 80 | 00:18:47,070 --> 00:18:57,840 | be more difficult than most of you are prepared to navigate because you're either new, or you're not used to this much manipulation. And there's a lot of |
| 81 | 00:18:57,840 --> 00:19:12,300 | that right now. Lots of it. So what I'm watching is do we respect this fair Vega with the mitigation block, because the narrative would be this. We go up here to |
| 82 | 00:19:12,300 --> 00:19:21,510 | allow smart money to offset their lungs that they had here that were unable to get off now and you're probably thinking, Okay, if they're smart money, how did |
| 83 | 00:19:21,510 --> 00:19:32,580 | they end up in a position where they're losing? Because they're human. They're going to do what they're going to speculate just like any of us would, and they |
| 84 | 00:19:32,580 --> 00:19:41,910 | may do something wrong, they may have a bad day, you might be firing on all cylinders. I mean, they're, they're not artificial intelligence. The AI is the |
| 85 | 00:19:41,910 --> 00:19:51,960 | algorithm that's delivering these price movements. It's not the buying and selling pressure, but the participation of this group of traders. They're |
| 86 | 00:19:51,960 --> 00:20:01,470 | looking for these types of things in price action, to instigate some reason to be long or to get out of their position. or to get short or get out of their |
| 87 | 00:20:01,470 --> 00:20:13,440 | position. And so, you know, while that's not a lot of movement here, as a new student, you want to start with those small little incremental milestones, |
| 88 | 00:20:13,860 --> 00:20:25,560 | looking for things to draw to why price should be reached to a specific level, why should react or behave a specific way? Now, this wick here, okay, see this |
| 89 | 00:20:25,560 --> 00:20:39,720 | wick? When we trade above that, I like to use the consequent encroachment of that as well. Because we can have a retracement down and it has 92.75. |
| 90 | 00:21:00,210 --> 00:21:07,860 | In this level to me would be important. I'd want to see it it can it can step through it a little bit, but I want to see if it trades down there. I want to |
| 91 | 00:21:07,860 --> 00:21:28,800 | see the body stay above it. Make this thinner. Okay, I think we've got enough here on the 15 minute timeframe. We do have another imbalance here. Look, look |
| 92 | 00:21:28,800 --> 00:21:37,560 | at this right here. This is for folks that are struggling with my favorite you got a look at this candle straight down the next candle we trade up. And then |
| 93 | 00:21:37,560 --> 00:21:46,290 | down the next candle we trade up almost completely closing into that previous candles low and trade down. That's efficient delivery. There's no fair value gap |
| 94 | 00:21:46,290 --> 00:21:53,400 | here. It opens here trades up almost to that candle and then trades down the next candle we open we trade up and leave what that small little gap right |
| 95 | 00:21:53,400 --> 00:22:04,140 | there. See that. So if we do manage to get above this fairway get with mitigation that's bearish. This would need to act as support. And then we would |
| 96 | 00:22:04,140 --> 00:22:13,770 | need to power through this one if we're bullish. This one here is just the first point of interest. I'm only interested in see initially what we're doing because |
| 97 | 00:22:13,770 --> 00:22:22,380 | we're not rushing, we're still in the opening range. It's not even been 30 minutes since we opened. So we're only trying to get a feel for what it's likely |
| 98 | 00:22:22,380 --> 00:22:32,040 | to do. But not getting excited. Because why we had a big move overnight. Every retail trader in the world is going to be wanting to do what? Chase it, chase it |
| 99 | 00:22:32,040 --> 00:22:40,890 | where it's been going down. So you have what stop loss orders that are resting right above this wick, they ran to that to a fair value gap outline with the |
| 100 | 00:22:40,890 --> 00:22:48,660 | logic as to why it should go that out when because we have a mitigation block over here. So it's not just simply a Oh, this looks like a fair value gap. Let |
| 101 | 00:22:48,660 --> 00:22:57,420 | me just put a rectangle on it and call it a fair value gap. No, there has to be some context as to why it would be even returning back to that level. Just |
| 102 | 00:22:57,420 --> 00:23:08,700 | because there's a gap. For instance, there's one up here. There's one right here, very small portion of it here, very, very low. It's the low of that candle |
| 103 | 00:23:09,270 --> 00:23:21,630 | 33, even in the high on that comes in at 32. So it's a quarter of a point of a gap, but it's the gap nonetheless. The fact that we are in this area down here |
| 104 | 00:23:22,200 --> 00:23:29,100 | and this one here, why would I be interested in news and not suggesting something up here? Because if you look at the run from this low that we've |
| 105 | 00:23:29,100 --> 00:23:45,630 | created for the day, from the high overnight Where is these two fair pay gaps in the lower portion? So I'm wanting to justify if Smart Money tried to go along |
| 106 | 00:23:45,630 --> 00:23:56,250 | here, and they're utilizing this fair value gap and mitigation block to mitigate that long position or positions. They are thinking what if that's true if we |
| 107 | 00:23:56,250 --> 00:24:07,980 | can't get above this it's being tipped that markets tipping its hand that Long's shouldn't be favored. So therefore we could potentially grind eventually down |
| 108 | 00:24:07,980 --> 00:24:18,270 | into this low again today. I don't know that yet. I'm still observing the fair pay gap, that mitigation block and if we dropped down even further, this is |
| 109 | 00:24:18,270 --> 00:24:29,460 | where I would want to see it stop right and here it can touch the wick can touch this candles high that would be with it did it on one candle like this that |
| 110 | 00:24:29,460 --> 00:24:37,920 | would we refer to as my immediate rebalance. Next candle when you have a big up candle or down candle, the next candle opens and trades all the way back to the |
| 111 | 00:24:37,920 --> 00:24:49,830 | previous candles higher low. Creating no gap at all. That's an immediate rebalance using you see that? That's one of the sharpest quickest takes off runs |
| 112 | 00:24:49,830 --> 00:24:58,080 | and it doesn't give you the chance to get into it. Which is important when you watch these big runs like this because not that this is a big run but it's it's |
| 113 | 00:24:58,110 --> 00:25:09,300 | significant because We've had a lot of rains movement, intraday yet yesterday, there was so much speed in how fast the market was moving. And I'm training you |
| 114 | 00:25:09,300 --> 00:25:18,330 | to look for five handles initially. And man that's happened in like seconds of goods like boom, boom there. So you got to be really, really careful right now |
| 115 | 00:25:25,410 --> 00:25:37,950 | just look further, probably confuse some of you when I mentioned this range and what I was referring to, that's 50%. Okay, so this one here is still in a |
| 116 | 00:25:37,950 --> 00:25:48,330 | discount. So I want to see does it have an reluctance to get to even 50% of that range, which will be what equilibrium we're above it, which would take us into |
| 117 | 00:25:48,330 --> 00:25:57,420 | that fair bank gap, which would be what premium relative to this high and that low, we don't need an indicator to show us that you getting up to this level |
| 118 | 00:25:57,420 --> 00:26:05,940 | here would be short term overbought. So I don't need indicators to tell me that I'm looking at the range and determining where I am in regards and I'm |
| 119 | 00:26:05,940 --> 00:26:14,430 | eyeballing this, I'm not doing this. You know, you'd need to do it because you're learning. But you can rough eyeball after you've been doing it for a |
| 120 | 00:26:14,430 --> 00:26:25,290 | while and see, okay, this is about midpoint. In this fair, banquette would be premium. So what I'm suggesting here in terms of narrative, what I'm trying to |
| 121 | 00:26:25,290 --> 00:26:35,010 | flesh out in terms of what I think is likely to occur, is the fact that this fair value got we've outlined and that mitigation block, Smart Money was what, |
| 122 | 00:26:35,910 --> 00:26:47,220 | potentially long here, they went underwater. So they're in the business to make money. When the algorithm allows price to reprice back to an inefficiency and |
| 123 | 00:26:47,220 --> 00:26:59,550 | mitigation, they'll do what they will kill their lungs. And those lungs being neutralized is indication to me as a trader, if it can fail here that the better |
| 124 | 00:26:59,550 --> 00:27:07,470 | side is still looking for lower prices. And it would have done what it would have gone up to take out the cells inside of the protective buy stocks that were |
| 125 | 00:27:07,470 --> 00:27:15,000 | trailed in any shorts overnight, retail would be trying to go short thinking that this is resistance, because it went there and stopped on a lower timeframe |
| 126 | 00:27:15,000 --> 00:27:25,290 | chart, because everybody's using one minute charts now. And this run here perfectly takes out any trail by stops, but it goes to a level that's in my |
| 127 | 00:27:25,290 --> 00:27:36,090 | concepts. That makes sense. It's inefficient. mitigation. So far, we've seen movement here, it's already moved, what would have been considered what, five |
| 128 | 00:27:36,090 --> 00:27:45,210 | handle run or more, I mentioned that the wick, it would trade down into that. If it does go lower, I wanted to go there. Now some of you might look at that as |
| 129 | 00:27:45,270 --> 00:27:56,340 | that's a model, that that's enough for me, it makes perfect sense to me. And if it repeats these conditions in the future, you can practice with that. I'm gonna |
| 130 | 00:27:56,340 --> 00:28:09,450 | drop into a five minute chart. Now notice on the five minute chart, it doesn't look like a fair value gap. That's one of the I get this question many times |
| 131 | 00:28:09,450 --> 00:28:17,190 | from new students. How is it when I dropped down to a lower timeframe, the fair value gap that I have noted, there isn't a fair value gap on the lower |
| 132 | 00:28:17,190 --> 00:28:26,850 | timeframe, that's fine, you would sometimes see that because these intervals are going to be much more busy, they're going to fluctuate a lot more. So they're |
| 133 | 00:28:26,850 --> 00:28:37,170 | going to overlap. You got three of these five minute candles that make up 115 minute candle. So the fairway get that outlined on that previous chart and a 15 |
| 134 | 00:28:37,170 --> 00:28:47,640 | minute timeframe, you can't really see a fair value gap here except for the small little separation between this candles low which is 39, zero 9.5. And this |
| 135 | 00:28:47,640 --> 00:29:02,970 | candles high, which is 39 Zero 8.75. So it's three quarters of a point or three ticks. But that right there, that small little gap there can be refined. So if |
| 136 | 00:29:02,970 --> 00:29:11,400 | you were looking at the 15 minute timeframe for a gap and drop down, you would refine it to that area right there because that is the actual fair value gap. So |
| 137 | 00:29:11,400 --> 00:29:19,680 | that's calibrating your PD arrays you go from higher timeframe down to lower timeframe. You can see how we go right up into it hit it perfectly. And we |
| 138 | 00:29:19,680 --> 00:29:37,080 | dropped down to the consequent courtroom that wick there. So from high a fair value got oh nine, three quarters, which is this candle here to 92. So that |
| 139 | 00:29:37,860 --> 00:29:47,520 | that's plenty range to just get your five handles and move to the sidelines and just wait using the logic that I've outlined here. This would be mitigation. |
| 140 | 00:29:48,600 --> 00:29:56,970 | Smart Money we'll be doing what they will be killing their lungs that will be underwater as it dropped down below. And we are doing what we are not even |
| 141 | 00:29:56,970 --> 00:30:09,780 | returning back to equilibrium yet. So in my opinion indicates weakness. All these things are so far supporting the idea of weakness. Now what I'm looking at |
| 142 | 00:30:10,080 --> 00:30:27,720 | is the dollar index. It's really not showing anything that's clear or decisive. So it's not lending any kind of intermarket analysis yet it looks like honestly, |
| 143 | 00:30:27,720 --> 00:30:45,810 | it could go either way, I'm looking into a one minute chart. And we've already ran up on the hourly just falling short of 105 at a high of one Oh 4.959 British |
| 144 | 00:30:45,810 --> 00:30:56,160 | Pound looks really heavy here. Euro just marking time at 105 NASDAQ. |
| 145 | 00:31:09,990 --> 00:31:11,010 | The NASDAQ real quick |
| 146 | 00:31:16,950 --> 00:31:28,860 | Alright, so we have a discount right here. And it's an order block there to them close candles. And if everybody got there, so that would be an interesting PD |
| 147 | 00:31:28,860 --> 00:31:43,590 | array on the downside. Through The watching NASDAQ. All you talk about is es ICT. I don't trade es I want to talk about NASDAQ. So that's a level be mindful |
| 148 | 00:31:43,590 --> 00:32:07,350 | that what is that low comes in at 12. One in two and a half. So use that to study that. Back to ES. With that, Thomas like it's supposed to work they may |
| 149 | 00:32:07,350 --> 00:32:26,400 | get with mitigation failed to get to equilibrium of the previous range. Is there any imbalances in here? pay gaps on account? No, just the order block. We have a |
| 150 | 00:32:26,400 --> 00:32:42,300 | low that took out sell side here. But no inefficiencies. So what we're watching is this order block me drawn out. I'm using the open because it has a stubby |
| 151 | 00:32:42,300 --> 00:33:00,690 | little wick that a longer wick. I would use the elements I've been teaching you with the wicks. Fella down here. Okay. So we have this range. And now how far |
| 152 | 00:33:00,690 --> 00:33:09,360 | can it go down and still not take out that low mean threshold, which is half of this down close candle. So you'd like to hear |
| 153 | 00:33:14,550 --> 00:33:29,730 | technical science 3879. Three quarters. So that's kind of like the last line of defense. If it were going to lower turnout this year. If it were to trade |
| 154 | 00:33:29,730 --> 00:33:45,540 | through that, and start showing the bodies going through it, that would be in my opinion, indicative of wanting to revisit and maybe run out that low. So let's |
| 155 | 00:33:45,540 --> 00:33:57,450 | talk about if you were utilizing that mitigation block and that fair value gap and waiting for the market to go to what a short term premium? Well, wait a |
| 156 | 00:33:57,450 --> 00:34:09,510 | minute ICT, you said that this here is equilibrium in the overnight feeling range. So as long as it's below this, we're weak, right? But look inside this |
| 157 | 00:34:09,510 --> 00:34:21,750 | price leg here. From that low all that to the high here. There's several price swings from this low looking back for getting this one here, because that's just |
| 158 | 00:34:21,750 --> 00:34:29,310 | a small little reaction. We've already mentioned the purpose of why that would be used which will be trailed stop losses on shorts above it will be by stops. |
| 159 | 00:34:30,840 --> 00:34:43,860 | above that. The 15 minute fairway gap, which is this blue one here. And it falls below equilibrium of the overnight feeling range. From this high go on to the |
| 160 | 00:34:43,860 --> 00:34:55,230 | left higher than that high. Where's the next immediate swing high? You can't use this one because it's lower than that high. That's not a swing high. That's a |
| 161 | 00:34:55,230 --> 00:35:10,590 | swing high right here. So if we use that frame of reference There, this movement up to that fair value gap here within this dealing range, which is also in what |
| 162 | 00:35:11,550 --> 00:35:21,600 | a discount still relative to the low here, and the overnight range. Now I know some of you that are brand new, this is completely confusing to you, trust me, |
| 163 | 00:35:22,440 --> 00:35:32,280 | the core content, go through those lessons where I'm talking about price swings, and looking at how prices fractal price swings within price swings. This is how |
| 164 | 00:35:32,280 --> 00:35:40,080 | you build narrative, this is how you do it. Okay, it's not just simply plot an indicator are an indicator that's supposedly has my name plastered all over it, |
| 165 | 00:35:40,560 --> 00:35:48,030 | it's not going to do this kind of work for you, folks. Okay, I know, there's folks out there that are making things for trading view and other new platforms |
| 166 | 00:35:48,480 --> 00:35:59,250 | that at fair value, got an ICT, new week opening gap indicators, you're going to have lipstick on your chart, but unless you knew how to use it, it's going to do |
| 167 | 00:35:59,250 --> 00:36:05,220 | nothing for you, it's going to compute, you're gonna have more things that I have in my chart, if you use all these other indicators, there's gonna be fair |
| 168 | 00:36:05,220 --> 00:36:15,090 | value gets all up in here. I'm not looking at them, I have to have a process, I have to go through a process of what I'm walking you through here, which is the |
| 169 | 00:36:15,090 --> 00:36:22,830 | logic, how the algorithm is going to refer to these specific fair pay gaps. It's not just because there's a fair value, price is going to go there. That that's |
| 170 | 00:36:22,830 --> 00:36:33,480 | what separates me from everybody else is trying to be like me to sell mentorships and courses and such. And I hate sounding like, I'm a hater, because |
| 171 | 00:36:33,480 --> 00:36:41,760 | I'm not hating. I love the fact that people are gravitating to my concepts. But a lot of them are overzealous, and they're trying to be educators when they |
| 172 | 00:36:41,760 --> 00:36:49,590 | don't know what they're doing it and you're actually hurting your own image. And you're also presenting misinformation about my concepts that you don't know, |
| 173 | 00:36:49,800 --> 00:37:01,440 | like, you don't know it yet. But this fair value got is in a premium relative to the dealing range from this swing high to that low. Now think about what I was |
| 174 | 00:37:01,590 --> 00:37:12,870 | outlining earlier, the market has had a big move overnight, we do not go in chasing the market lower because it went down overnight. If we want to get |
| 175 | 00:37:12,870 --> 00:37:24,570 | short, we have to do what it least allow the market to do what per tray to a premium. So how do we identify a premium, we have to look at the price leg that |
| 176 | 00:37:24,570 --> 00:37:33,120 | we moved from, or within recently, which is this movement down. I showed you let me show another fibs that we can keep it in context of what I'm showing you |
| 177 | 00:37:33,120 --> 00:37:51,990 | here. So from this high, to that low here, this 50% level was equilibrium. That swing high happens to be where, right at equilibrium of the overnight range, |
| 178 | 00:37:53,400 --> 00:38:02,250 | then we have a fair value gap on the 15 minute time frame. Here. Because I'm looking at a five minute chart member we dropped down. It traded up into that |
| 179 | 00:38:02,250 --> 00:38:14,580 | fair value gap. At the same time it traded up into a 15 minute mitigation block. And the logic was, we want to see does the market reprice lower from there? |
| 180 | 00:38:15,150 --> 00:38:23,940 | First objective will be what trading down into the wick up here. Then I said if we go through that we have the order block. And then here, how could you use |
| 181 | 00:38:23,940 --> 00:38:34,380 | that as a model? How could you use that as a if you wanted to trade this and be short because now we have watched by stops that would be trailed here, because |
| 182 | 00:38:34,380 --> 00:38:42,960 | as the market went lower, traders are going to do what they're gonna want to jam their stop loss. And when it started to break a new low here by stocks will be |
| 183 | 00:38:42,960 --> 00:38:54,630 | placed right there. The market does what it trades up into a short term premium relative to this high to that low. And we're still in a discount market relative |
| 184 | 00:38:54,630 --> 00:39:02,970 | to the range overnight. So it's indicating weakness. So you have several things there in your favor. You did wait for it to go to a short term premium, you did |
| 185 | 00:39:02,970 --> 00:39:15,090 | go to a inefficiency and it's at an area where it created what mitigation. So because this range here is indicating overnight, that range. We haven't even |
| 186 | 00:39:15,090 --> 00:39:25,770 | made it back up to equilibrium. So we're still heavy. We knocked out by stops the market route up to a fair value and mitigation. Consequent corrosion was |
| 187 | 00:39:25,770 --> 00:39:38,190 | wick target one target to order block. And then you could get this as another objective which is not done so. Now we're working off of this order block |
| 188 | 00:39:44,130 --> 00:39:58,080 | and so far, the range hasn't been all that much but this is still tradable. Now earlier were here I was not streaming at the time but this down close candle |
| 189 | 00:39:58,080 --> 00:40:06,660 | using the logic of outline here This could have been another student of mines model where it traded at this open down into that order block, they're |
| 190 | 00:40:07,140 --> 00:40:15,930 | anticipating a run up into that fair value gap, that would be their trade, buying at the order block level here, buying, stop under the low of this candle, |
| 191 | 00:40:17,310 --> 00:40:29,130 | rallying up to here and get out and be done trading with the logic that it's oversold without the necessity of having an indicator, retail is going to do |
| 192 | 00:40:29,130 --> 00:40:38,790 | what chase it lower, they're gonna want to go short. And also, you know, utilizing the regular trading hours. And then we were talking about how it could |
| 193 | 00:40:38,790 --> 00:40:47,550 | potentially go up to recall, was it 3914 I lost my train of thought. |
| 194 | 00:40:56,730 --> 00:41:05,790 | Yeah, 3914 and a half. Okay, so that could be a draw for price up there initially. That's what we were talking about. And back down into electronic |
| 195 | 00:41:05,790 --> 00:41:16,830 | trading hours, the five minute chart. So 3914 is right there. Okay, so that was a draw, it could potentially trade back up to as using the regular trading |
| 196 | 00:41:16,830 --> 00:41:27,090 | session, or the opening range gap, because that's what that is. And I know I've been throwing a lot at you. But you know, it's, it's three decades, I've |
| 197 | 00:41:27,090 --> 00:41:37,200 | struggled to try to condense this where all the things that I utilize you, you want to learn it, I gotta teach it to you. But they all have to have their own |
| 198 | 00:41:37,200 --> 00:41:44,970 | individual labels that we keep track of what I'm looking at when you use it. But that could have been a nice little long for someone that would be trying to |
| 199 | 00:41:44,970 --> 00:41:53,370 | trade against retail mindset, which is they're trying to go short, because it's been going lower, and then rally up into a fair Vega with a mitigation block, |
| 200 | 00:41:53,790 --> 00:42:00,810 | and a draw to 3914. Which would be the last hour of trading yesterday, low. |
| 201 | 00:42:07,980 --> 00:42:09,120 | Lots of ways to skin a cat. |
| 202 | 00:42:17,220 --> 00:42:29,460 | Here you're following along on twitter, if what I just outlined in terms of how both sides of the marketplace using my concepts can be and that sounds like an |
| 203 | 00:42:29,460 --> 00:42:39,630 | oxymoron where it can't be so. But I've said it many times that my students, myself and my students, we can be traded in the same market two different |
| 204 | 00:42:39,630 --> 00:42:49,530 | directions and still find profitable trades. Did that explanation was that helpful to you, at least in that regard. And I'm looking for tweets as a |
| 205 | 00:42:49,530 --> 00:42:51,120 | response when I'm asking. |
| 206 | 00:43:02,639 --> 00:43:13,919 | Notice how we reversed up into the lower that fair value gap again, remember this this range here is a 15 Minute fair value gap. That's that gap here. We |
| 207 | 00:43:13,919 --> 00:43:24,959 | traded back up into it here. And now I want to see does it strongly reject that fair value gap and aggressively start moving lower? Or does it power through it |
| 208 | 00:43:25,019 --> 00:43:33,689 | and if it does, then we would look for this survey got the act of support. So you have to be really really nimble and patient in an environment like this. You |
| 209 | 00:43:33,689 --> 00:43:41,219 | don't want to go in here trying to force your will on it. impose your will and because of that this doesn't work |
| 210 | 00:43:52,500 --> 00:44:00,570 | Don't tell me you've took trades. That's the rule. First rule of fight club. You don't talk about fight club. If you start telling me you're taking trades is |
| 211 | 00:44:00,570 --> 00:44:06,600 | gonna get in my head and I'm gonna be worrying about what I say next. Because I don't I don't want you trading. I want you learning how to read price action. |
| 212 | 00:44:06,600 --> 00:44:19,320 | That's what my mentorship is my paid mentorship was how to teach and read on that how to teach but how I trade using price action. But the mentorship is how |
| 213 | 00:44:19,320 --> 00:44:26,760 | you are trained to read price action. That was the promise the promise was you're going to learn how to read price action better than anybody else is going |
| 214 | 00:44:26,760 --> 00:44:36,780 | to teach you and you'll understand precision elements that are outside the scope of retail logic. This is no different you're not paying me but the same |
| 215 | 00:44:36,780 --> 00:44:43,380 | expectation is being held here that you're not to be trading with this. You don't know what you're doing yet. And you really shouldn't be doing anything |
| 216 | 00:44:43,380 --> 00:44:47,910 | with demo either because you're you're reading the tape you're reading what these candlesticks are doing |
| 217 | 00:44:53,520 --> 00:45:04,980 | alright, so I'm looking at dollar dollar looks like it wants to come down a little bit. There's a bit of a a Diag. trendline on the dollar index, and I |
| 218 | 00:45:04,980 --> 00:45:14,250 | don't like that, I don't have any faith in diagonal support resistance. So that means it could potentially trade down a little bit lower on dollar, which would |
| 219 | 00:45:14,250 --> 00:45:18,240 | give some lift to get potentially above that fair value gap here on ES. |
| 220 | 00:45:24,599 --> 00:45:32,369 | Take a look at the NASDAQ, I'm gonna show you something here. I get questions all the time, how do I add the NASDAQ chart at the bottom of my trading chart, |
| 221 | 00:45:32,699 --> 00:45:48,929 | you go up to this little plus symbol here. Okay, click on that. And type in the symbol that you want to utilize as a compare. And you don't want to do that I |
| 222 | 00:45:48,929 --> 00:45:59,489 | click too fast, you want to go to New pain, and it'll plot it underneath it, okay. And then you can keep it on a line chart if you want. In this case, you |
| 223 | 00:45:59,489 --> 00:46:10,889 | would look at it with the low, plotting on low. You can see the divergence between the low here and es in the low here is lower than that one. Only, yes, |
| 224 | 00:46:11,249 --> 00:46:20,339 | we don't have that lower low on NASDAQ. Now if you don't like the line chart, the best way of doing it really would be distilling the candlesticks and setting |
| 225 | 00:46:20,339 --> 00:46:33,359 | your candlesticks up as you wouldn't do normal chart. And buy us all the time. What's your color scheme? It's no magic between what colors I'm using colors |
| 226 | 00:46:33,359 --> 00:46:52,199 | don't mean anything. It's what you see in the candlesticks, or sometimes that's not in the candlestick. So we have these diverse divergence here, yes, went |
| 227 | 00:46:52,199 --> 00:47:02,969 | lower. The NASDAQ failed to go lower. So that's also another contributing factor as to and I failed to mention, I apologize. But it's hard to read this stuff |
| 228 | 00:47:02,969 --> 00:47:12,569 | live and talk about what I'm thinking about at the time, and still make the lessons helpful to you. I'm not going to be able to always pull up everything |
| 229 | 00:47:12,569 --> 00:47:21,509 | because I'm I'm trying to articulate what it is I'm feeling inside. That makes me trust where it's going to go next, why it shouldn't do certain things. And I |
| 230 | 00:47:21,509 --> 00:47:32,669 | have to obviously think about what it is I'm expecting to see then I had to formulate a way to provide a statement to explain what it is I'm thinking the |
| 231 | 00:47:32,669 --> 00:47:40,349 | whole time the markets going on. Like it's not hindsight that do all this real time. But in a perfect world. Obviously, most of you already do this anyway that |
| 232 | 00:47:40,349 --> 00:47:53,459 | you've been trained to do. So you want to be referring to the highs and lows comparatively, between Dow Jones, that symbol for that would be y m. The symbol |
| 233 | 00:47:54,479 --> 00:48:04,319 | for June contract is m and then 2023. So if you wanted to plot that down here, instead of the NASDAQ NASDAQ symbols here in QM, M is for June, we were using h |
| 234 | 00:48:04,319 --> 00:48:16,349 | which is the symbol for March in the third Friday of June, this contract will expire and we will roll over into September. So the symbol for September would |
| 235 | 00:48:16,349 --> 00:48:27,149 | be the letter U. Okay, so there's only four symbols every year for the futures contract. It's H for March, M for June, you for September, and Z for December. |
| 236 | 00:48:28,229 --> 00:48:37,529 | So that way, you know your contract rollovers. It's always the third Friday of each month of that contract month and it expires. But I like to rollover, when I |
| 237 | 00:48:37,529 --> 00:48:50,189 | start either seeing one of two things, if I see the volume, explode more in the next month out, which is why I rolled over from the March contract to June. Or |
| 238 | 00:48:50,189 --> 00:48:56,579 | if open interest, like if I hadn't been trading the market, it's something I want to go back into trading another market that hadn't been touching for a |
| 239 | 00:48:56,579 --> 00:49:08,969 | while. I'll wait for open interest to be larger in the next month out and then I would roll over rollover simply taking the present nearby contract which is |
| 240 | 00:49:08,969 --> 00:49:23,759 | still March. But we roll over to the next month. So all trading would be rolled over to the next contract. Right So so far we've had day. If you look at the |
| 241 | 00:49:23,759 --> 00:49:34,709 | March contract, just pull this out real quick. Let me finish let me finish I thought I'm sorry. These lows here in ES were not matched in a symmetrical |
| 242 | 00:49:34,709 --> 00:49:43,019 | market this low here on NASDAQ should have went lower, it didn't. That also builds the case for why it moved from here up into that fair value gap that I |
| 243 | 00:49:43,019 --> 00:49:50,729 | mentioned, and we've seen it delivered. So let's take this off now. I want to show you the ES smart contract |
| 244 | 00:49:56,159 --> 00:50:17,399 | and this price is trading at 3869. quarter to 3862, essentially. And it's trading in the June contract at 3894. Okay, so that is a normal carrying charge |
| 245 | 00:50:17,399 --> 00:50:30,719 | market not that this is like a livestock, our grain market. But even even in these indices, if there is an inversion, where the nearby contract is more money |
| 246 | 00:50:30,869 --> 00:50:45,899 | in terms of its price, whereas it's not being shown that here, it's more higher. It's 3090 here, whereas in the 3860s, so it's like a 30 point premium. In the |
| 247 | 00:50:45,899 --> 00:50:56,039 | June contract, that's normal. But if there's ever a time when the market has a higher price in the nearby contract, and it gets cheaper, going further out in |
| 248 | 00:50:56,039 --> 00:51:06,869 | the future, than we are in a market that is poised to go up strongly, we don't have that here. I'm just tossing that out there, that extra new extra charge. |
| 249 | 00:51:17,699 --> 00:51:26,249 | So dollar did in fact, go lower, like I mentioned, gets diagnosed, Support Resistance sucks. Trend Lines are garbage. And I know it's probably gonna offend |
| 250 | 00:51:26,249 --> 00:51:34,349 | somebody that use them. But trust me, they're just, they're subjective. And you can find 50 different ways to put a trendline on the chart. And it's not |
| 251 | 00:51:34,349 --> 00:51:46,559 | consistent. Whereas fair value gaps, points of reference, where stops you the third, they're not ambiguous, they're there. So far, we've hit that fair value |
| 252 | 00:51:46,559 --> 00:51:58,589 | gap here. And we want to watch do we, if we trade below this low, how we manage to trade at this level here, it can trade down that mean threshold, which is |
| 253 | 00:51:58,589 --> 00:52:09,209 | this down close candles, midpoint, I'm using the high to the low, you can touch that, with the wick maybe even go just through a little bit. But the bodies, if |
| 254 | 00:52:09,209 --> 00:52:20,009 | a body trades through that, and starts a new candle, to me, that's indicating heaviness. Heaviness is when the markets likely to continue going lower. We |
| 255 | 00:52:20,009 --> 00:52:29,579 | don't have that yet. We're still inside of a small range, which is exactly what we were expecting anyway, because why we had a big movement overnight, all the |
| 256 | 00:52:29,579 --> 00:52:38,429 | excitement, all the movement was overnight. So now everybody's arm wrestling, trying to figure out what it's going to do next. And this is where people get |
| 257 | 00:52:38,429 --> 00:52:44,999 | chopped up, you get beat up, you get frustrated, because it's not moving the way you want it to move, you want to see a big move go one way or the other, you |
| 258 | 00:52:44,999 --> 00:52:53,729 | don't care. You just want to see movement as a trader. But you have to know when to anticipate these problematic periods where the market is going to be very |
| 259 | 00:52:53,729 --> 00:53:02,189 | fickle. fickle, was like, it doesn't want to do anything, it's just gonna say, No, I ain't gonna do nothing for you. And it'll frustrate you because you want |
| 260 | 00:53:02,189 --> 00:53:11,969 | to train, you want to see your targets hit, you took off for work, you know, or you stayed up to watch this because there's a live stream going on. But you need |
| 261 | 00:53:11,969 --> 00:53:20,909 | to know when I'm not doing this anymore, not teaching anymore. You're going to know these rules. And these procedures and protocols, you will lean on them. |
| 262 | 00:53:21,419 --> 00:53:28,829 | Because you've seen the effects of following them is beneficial. You're not surprised when the market goes in the chop, we can predict when that's going to |
| 263 | 00:53:28,829 --> 00:53:39,239 | occur. That's not a problem. Okay. We also can predict when there's going to be big movements. That's easy to the hard part is for me as an educator is to teach |
| 264 | 00:53:39,239 --> 00:53:48,629 | you, number one, be patient going through these lessons because you don't understand how much you're learning right now. You really don't. But you're |
| 265 | 00:53:48,629 --> 00:53:59,249 | going to understand months from now how impactful knowing when to anticipate consolidations, choppiness because that's going to do what it's going to help |
| 266 | 00:53:59,249 --> 00:54:10,229 | you stick to rule number one, which is preserve capital. Your job as a trader is not to make money first. Your job is to keep the money you have. Everybody else |
| 267 | 00:54:10,229 --> 00:54:18,329 | doesn't know efficient job of blowing out. If you believe the statistics and I believe them. You're 90% of people that trade with real money, they're going to |
| 268 | 00:54:18,329 --> 00:54:27,239 | lose their account expediently because they don't have these skill sets, they don't have patience, number one. And if they do have a losing trade, which all |
| 269 | 00:54:27,239 --> 00:54:39,779 | of us do, all of us have drawdown all of us have a series of losing trades and getting it wrong and missing trades. You're going to have that. But the retail |
| 270 | 00:54:40,049 --> 00:54:59,969 | trader and 99 999 9% of every educator out there does not does not teach when not to trade. And I have been a big proponent of that. Because that's where I |
| 271 | 00:54:59,999 --> 00:55:10,859 | got beat up. You know, when the markets are moving, I have tools that can get me in there in stunning fashion, and hold for amazing, amazing points or pitfalls. |
| 272 | 00:55:11,699 --> 00:55:23,879 | But when I was new, I didn't know how to avoid specific times the market or conditions just because we're in a kill zone. Okay, we're in a kill zone, and |
| 273 | 00:55:23,879 --> 00:55:32,459 | there was high impact news event a great, wonderful. That doesn't mean it's gonna move. Why? How did I outline that for you today, all the movement was |
| 274 | 00:55:32,459 --> 00:55:44,459 | overnight. It's one sided. And when we open up, they utilized that news event this morning at 830. Was it impactful? It moved around a little bit, it moved |
| 275 | 00:55:44,459 --> 00:55:57,509 | down, create a little lower low here than that low. And then retail is doing what think about what they do. Typically 90% of retail traders are doing some |
| 276 | 00:55:57,509 --> 00:56:07,679 | kind of breakout strategy. They want to have some kind of confirmation, they think that if it goes through a level where if it moves above a certain level, |
| 277 | 00:56:07,829 --> 00:56:16,169 | they want to be long, or if it goes below level, they want to be short. They think that once a move starts happening, they want to maintain a position on the |
| 278 | 00:56:16,169 --> 00:56:27,779 | basis of momentum. And that's exactly what I'm teaching my students and you listening, how to capitalize on that. Because that logic is flawed. It can work. |
| 279 | 00:56:29,069 --> 00:56:36,989 | Like you can use breakout strategies with my concepts that teach you like if you know how to trade the right direction, in the right time, you can use a breakout |
| 280 | 00:56:36,989 --> 00:56:44,999 | strategy and it'll work for you. In fact, if you go through the core content, I'm actually teaching you how to sell short on weakness and buy on strength. I |
| 281 | 00:56:44,999 --> 00:56:53,939 | don't like those entries, styles. But you're going to find that if you're going to be a higher timeframe trader, that's usually going to be the mechanism that |
| 282 | 00:56:53,939 --> 00:57:00,929 | you're gonna use to get into the trade. Because you don't have the benefit. Most times, if you're running a business or you're in school, or if you're working, |
| 283 | 00:57:01,379 --> 00:57:10,859 | you can't trade these lower intraday timeframes, you're gonna be utilizing that entry strategy where the market puts you in. But you'll be focusing on a time |
| 284 | 00:57:11,009 --> 00:57:20,159 | when the markets predisposed to move in a great, magnificent manner, higher or lower, not just simply, you know, it moves a little bit. Now you want to have |
| 285 | 00:57:20,159 --> 00:57:33,839 | higher timeframe, trade that's going to be moving for weeks, not just the day. So in this respect, we're looking at the sell side here that was this morning. |
| 286 | 00:57:39,210 --> 00:57:45,870 | Oops, I did not go round one bit. Left. |
| 287 | 00:57:53,070 --> 00:58:07,140 | Okay, so now think about what was going on overnight. Markets has kept going lower, made a short term low here at 658 30. News, we dropped down first 15 |
| 288 | 00:58:07,140 --> 00:58:17,760 | minutes, it does what it goes below that low. Think about what retail traders would see here. This is a bear flag to them. It drops down below a low retail |
| 289 | 00:58:17,760 --> 00:58:28,020 | traders that want to sell short on a breakout there are short right there. Where's their stop loss going to be? About here? That's a lot of movement. |
| 290 | 00:58:29,160 --> 00:58:43,440 | Maybe, maybe not. Maybe they're trading a micro, maybe they're trading with options, or something to that effect, the logic is above this high. That's a |
| 291 | 00:58:43,440 --> 00:58:53,610 | trigger for they don't want to be short anymore. So what's going to happen? It's going to trick them in going short. Those sell stops that trigger in misinformed |
| 292 | 00:58:53,610 --> 00:59:06,510 | traders. Street Money, dumb money, not smart money. They're short here, who was taking and who would take the other side of that trade, Smart Money aiming for |
| 293 | 00:59:06,510 --> 00:59:14,910 | what the Fair Pay Gap outlined for you this morning. And it would be above this high with a buy stocks will be resting. And this is where they would mitigate |
| 294 | 00:59:15,180 --> 00:59:26,130 | any positions that were long. They could get those off here. We haven't really seen any indication that that is in fact, the case because we're still inside |
| 295 | 00:59:26,130 --> 00:59:34,260 | this small little range, which is what the type of environment that I told you at the beginning of this livestream. That's what we were expecting. And I didn't |
| 296 | 00:59:34,260 --> 00:59:42,720 | say it just today that's in the rule sets in my YouTube channel and all the lectures after big candles, big daily candles, big movements, big days. Okay, in |
| 297 | 00:59:42,720 --> 00:59:52,410 | this case here. We had one sidedness overnight in London, huge one sidedness. You have to be very, very careful not to go in expecting, it's just going to |
| 298 | 00:59:52,410 --> 01:00:01,620 | keep going lower. Now, in my 30 years experience, I've probably seen maybe two or three times it's done something like that. But if you're trying to get short, |
| 299 | 01:00:02,820 --> 01:00:13,170 | and I'm not suggesting that you should be, but I'm saying if you are trying to be short, you have to wait. You have to wait until it trades to a premium. If |
| 300 | 01:00:13,170 --> 01:00:23,220 | you are not doing that, you are absolutely gambling and you're chasing price. That's that's the definition of it, you're chasing price, you're thinking like a |
| 301 | 01:00:23,220 --> 01:00:31,680 | retail trader like it did here, when it traded lower, they want to be selling short about below that low, it's already went significantly lower from |
| 302 | 01:00:31,680 --> 01:00:45,000 | overnight. With no real runs on liquidity prior to this one here. There's been no stock runs here at all. It's all been displacement lower, rebalance, trade |
| 303 | 01:00:45,000 --> 01:00:59,370 | lower. For leading fair Vega. the sell side here has been taken, putting retail traders short, the logic is smart money would buy those sell stops as they want |
| 304 | 01:00:59,370 --> 01:01:06,780 | to get short as a retail trader, they want to try to break out to the downside. Because he thinks new the banks are collapsing, it's Armageddon, it's going to |
| 305 | 01:01:06,780 --> 01:01:17,400 | keep this going straight down. The algorithms going to do this, it's going to give that to them, allowing smart money to do what they can buy that right up to |
| 306 | 01:01:17,430 --> 01:01:30,030 | the buy stops here. And the fair value gap that I've outlined this morning. So smart money buys retail sells stops and sells to the buy stops above here in |
| 307 | 01:01:30,030 --> 01:01:41,100 | this level, because not everybody's gonna put a stop loss right here, who's gonna put a stop loss up here, large funds, investment banks, larger traders |
| 308 | 01:01:41,160 --> 01:01:49,500 | that want to be trend following. They have more money than you folks they can they can withstand a little bit more of a price movement than you are. You see |
| 309 | 01:01:49,500 --> 01:02:02,490 | two handles movement against you, and you're freaking out. That's the difference. Okay, there's a difference in the food chain here. The the |
| 310 | 01:02:02,490 --> 01:02:11,820 | difference between what I'm teaching you, and what you learn anywhere else, is that we're not looking at patterns. We're looking at the context and logic as to |
| 311 | 01:02:11,820 --> 01:02:21,570 | why price should go where it's going. And if you can outline with a great deal of confidence, what you're expected to see in price action and why that would be |
| 312 | 01:02:21,570 --> 01:02:31,530 | even reasonable to anticipate. And again, if you can't see a storyline behind why the market would do specific things, and how it can take out lesson foreign |
| 313 | 01:02:31,530 --> 01:02:43,470 | money, why it would be advantageous for that to happen. Because if there are algorithms going to run from this low up to here, that movement offers |
| 314 | 01:02:43,470 --> 01:02:54,600 | opportunity. It's doing two things. Number one, it's allowing efficiency to this imbalance here. It's offering efficiency in terms of providing more liquidity |
| 315 | 01:02:55,170 --> 01:03:05,160 | for sellers at a higher price, with the spy stops above this high being taken out, because there's a buyer and seller at every transaction. So what we're |
| 316 | 01:03:05,160 --> 01:03:15,390 | doing is I'm teaching you, which is what I refer to as my market efficiency paradigm. The market is efficiently delivering price. Most times there are times |
| 317 | 01:03:15,390 --> 01:03:28,920 | when it delivers inefficiently in efficiencies, like fair value gaps Wickes those inefficiencies will be revisited, maybe not immediately, but they will be |
| 318 | 01:03:28,920 --> 01:03:42,090 | revisited. So we look at how the less informed traders that use retail concepts and logic, breakout strategies, trend lines, harmonics, Elliott Wave, that type |
| 319 | 01:03:42,090 --> 01:03:52,230 | of thing. All those gimmicks, I'm just gonna be honest, it's what they are, they have no bearing on what makes the market go up and down. The market is going to |
| 320 | 01:03:52,230 --> 01:04:03,060 | go to one of two things, it's going to go to an inefficiency. Or it's going to go to liquidity in the form of stops, be it buy stocks or sell stocks. That's |
| 321 | 01:04:03,060 --> 01:04:11,940 | the only two things that will do if it's not doing that it's going to go sideways. Now, think about what I just explained. I've said this before, but |
| 322 | 01:04:11,940 --> 01:04:20,730 | there's so many people that are watching my videos, because there's a lot of them. And if you're new, the question usually is is where do I start? Start with |
| 323 | 01:04:20,730 --> 01:04:29,010 | the 2020 mentorship, it's 40. Some videos, it'll catch you right into the marketplace looking for a specific setup. That way you can back test it, study |
| 324 | 01:04:29,010 --> 01:04:37,830 | it, look into Oh examples of it. And you'll be quickly convinced that there's something that you can see repeating week after week. When you have time, if you |
| 325 | 01:04:37,830 --> 01:04:47,040 | want to go through all the other stuff on the videos, do it. Who cares? I don't care. But I'm teaching this live to you and you really want to be in these live |
| 326 | 01:04:47,040 --> 01:04:53,820 | sessions or at least watching them as soon as you can get your hands on it. Because this is the this is the teaching. Okay, this is the part that makes it |
| 327 | 01:04:54,720 --> 01:05:03,900 | realistic to you. Because I can talk about things in a chart that's pre recorded and you're going I think like some of the trolls, oh, it's cherry picked, you |
| 328 | 01:05:03,900 --> 01:05:13,680 | forfeited that. But I don't do that when I'm on Twitter, and I'm doing here, I'm outlining it live, I don't have a safety net. I'm either right or I'm wrong. And |
| 329 | 01:05:13,680 --> 01:05:21,090 | I have a track record, look how many times I'm doing it, right. That's the track record, okay, I don't need to open up my books to you. I don't need to do that. |
| 330 | 01:05:21,120 --> 01:05:29,640 | I'm telling you what the market is going to do beforehand. If I didn't have an audience this long, it would be apparent that I don't know what I'm talking |
| 331 | 01:05:29,640 --> 01:05:37,020 | about. There is no algorithm, there's no way to time the marketplace. And there's no reasonable way of discerning what price is going to do next, then it |
| 332 | 01:05:37,020 --> 01:05:47,880 | will be what random. And these markets are not random. That's what I'm trying to communicate to you. Can I take you in front of hard line proof? That here is the |
| 333 | 01:05:47,880 --> 01:06:03,870 | algorithm? Here it is. I can't do that. I can show you in the chart, using the logic that, in my mind should convince anyone with reasonable common sense that |
| 334 | 01:06:03,870 --> 01:06:12,840 | there's not a buying and selling effect going on here. That's what we're told. We're told that as traders, we read books, we listen to other traders. They make |
| 335 | 01:06:12,840 --> 01:06:18,270 | money using whatever they're doing. There's people that make money with Elliott Wave. I'm not saying they don't. I'm not saying that there aren't people out |
| 336 | 01:06:18,270 --> 01:06:28,950 | there making money with harmonic patterns they do. But that's not what makes markets go up and down. That's not it. It's not buying and selling pressure. It |
| 337 | 01:06:28,950 --> 01:06:38,400 | doesn't matter if the markets going to collapse. Or go parabolically. Higher. It doesn't matter how many people's buying it, it's going there. Think about it. |
| 338 | 01:06:38,400 --> 01:06:46,950 | When you look at a forex pair. If a central bank comes out and says you know, their currencies overvalued, they're gonna reprice it lower. Who's stopping |
| 339 | 01:06:46,950 --> 01:06:56,250 | them? The buyers are gonna keep it from going down. No, no. When the euro and Swissy were the pegged, did the buying and selling pressure have any effect |
| 340 | 01:06:56,250 --> 01:07:10,470 | there? No. It was a massive destruction, gone, brokerages were closed down. When markets go into limit up, if you're looking at commodities, like say you're |
| 341 | 01:07:10,470 --> 01:07:21,240 | trading the grain market or something like that. And the market goes limit up or limit down. How many contracts were traded when that happened? They ever thought |
| 342 | 01:07:21,240 --> 01:07:28,080 | about it like that, did you? Right? And that's the things that I started thinking about like, wait a minute, wait a minute, wait a minute, all this |
| 343 | 01:07:28,080 --> 01:07:38,160 | attention on volume? Volume is not the answer. That is not the answer, folks. So market profile, another gimmick? Yes, people make money with it, because you can |
| 344 | 01:07:38,160 --> 01:07:47,490 | make money flipping a quarter two. All you need as a catalyst to do something people make money at casinos to, most don't. But some do. Some people win the |
| 345 | 01:07:47,490 --> 01:07:53,430 | lottery, some people buy scratch offs and when the likelihood is low. But sometimes that happens. |
| 346 | 01:07:55,050 --> 01:08:09,000 | But if we put 1000 traders in a room learning Elliott Wave, you're not getting 1000 profitable traders. You know, in that, in itself, should cancel any idea |
| 347 | 01:08:09,030 --> 01:08:22,410 | that, hey, this is the be all end all. What I'm teaching you is the market. We're not a cult, We're not a team, okay? And you don't have to like me. But |
| 348 | 01:08:22,410 --> 01:08:34,230 | what I'm teaching you is the actual market. So don't come here to try to be my worshipper. I don't want to be worshipped and I want to be anybody thinking to |
| 349 | 01:08:34,230 --> 01:08:42,630 | me, like I'm a hero, I'm not. It if you're on the other side of my trade, I don't feel sorry for you. So I want you to understand that. That's the person |
| 350 | 01:08:42,660 --> 01:08:57,330 | that you're looking up to. I have no compassion for you. If you made the mistake of taking the other side of my trade. I do not care if you lost the money. I'm |
| 351 | 01:08:57,330 --> 01:09:09,450 | teaching you so that way you don't fall victim to that. There's a way of doing this without all the mumbo jumbo gimmicks. Again, in case you missed it and you |
| 352 | 01:09:09,450 --> 01:09:24,660 | have your journal ready. These are the only two things that you need to worry about. Is the market likely to move in an expansion higher or lower? If the |
| 353 | 01:09:24,660 --> 01:09:33,870 | markets not predisposed to do that, then it's doing what it's going to consolidate? Should you trade and consolidations? No. You've seen the outline |
| 354 | 01:09:33,870 --> 01:09:42,030 | certain things in this small little consolidation. But I'm not going to lose my mind worrying about these small little tiny micro fluctuations. It's not worth |
| 355 | 01:09:42,030 --> 01:09:51,900 | it to me. I wouldn't be doing anything this morning. But I'm showing you how you need to prepare. So that we when we're not together in the future when I'm not |
| 356 | 01:09:51,900 --> 01:09:59,940 | doing live streams and such. You'll have this information in your journal. You'll have this video to refer back to so the markets either going to |
| 357 | 01:10:00,330 --> 01:10:10,320 | consolidate or expand. Now, if it's going to consolidate? When does that usually occur? After big moves, because large ranges, we get small ranges and small |
| 358 | 01:10:10,320 --> 01:10:21,690 | ranges, we get large ranges. So small moves big. Bring in the likelihood of a big move eventually. When can the big move happen? Your economic calendar? Just |
| 359 | 01:10:21,690 --> 01:10:30,840 | like a TV Guide. Okay. When you go on your cable TV, you want to see when the next sports teams that you follow is going to play. Go to ESPN, when's the next |
| 360 | 01:10:30,840 --> 01:10:42,210 | plane? When's the heat plan? When's the Ravens? The net the Yankees, whatever. You can pull up and see, okay, this channel on it this time. This is when that |
| 361 | 01:10:42,210 --> 01:10:54,030 | program is coming on what the markets are programmed folks. They're scripted with, like it or not, they're scripted. And these movements are timed. And |
| 362 | 01:10:54,030 --> 01:11:06,150 | you're looking at the volume thinking, that's the reason why No, it's not. That's when everybody is being induced into taking for getting removed from the |
| 363 | 01:11:06,150 --> 01:11:16,260 | marketplace. Because the markets moving regardless of how many buying and selling is going on. That's the big con, that's the scam that everybody buys |
| 364 | 01:11:16,260 --> 01:11:24,570 | into when they first start trading. And it's uncomfortable to suggest that it would be completely controlled. But why should it be? Why should you wrestle |
| 365 | 01:11:24,570 --> 01:11:34,260 | with that? I don't think anybody should wrestle with the idea of it, you should be thankful that they're 100% manipulated, because that means that your currency |
| 366 | 01:11:35,220 --> 01:11:45,720 | that the stock markets can't be influenced by some kind of terrorist act, where oh, they come in and they did heavy selling Saudi Arabia, they're rich, they |
| 367 | 01:11:45,720 --> 01:11:56,670 | have a lot of money. America has a lot of enemies. You don't think that China and Russia, Iran, they all could come together and short the markets and kill |
| 368 | 01:11:56,670 --> 01:12:03,630 | our entire stock market? They could? If that's what you believe buying and selling pressure could happen and cause these markets to do that? Why hasn't |
| 369 | 01:12:03,630 --> 01:12:12,090 | that ever happened? Because it can't happen, that's not going to happen. Now, eventually, I'm sure somebody's gonna see a big stock market crash and |
| 370 | 01:12:12,090 --> 01:12:18,750 | somebody's gonna get faulted for it. You know, in, they might even use a narrative, something like that, that put us into some kind of why aren't you |
| 371 | 01:12:18,750 --> 01:12:36,240 | paying attention. But it's just nonsense to believe that these markets are left open to any kind of potential for that to occur. I don't lose sleep over the |
| 372 | 01:12:36,240 --> 01:12:46,050 | market, being muscled by people like that. These markets are controlled. Now, just like a casino, casino, you can have a card counter coming in once or twice, |
| 373 | 01:12:46,170 --> 01:12:55,110 | you run the tables, and you gain them for a little while. But most people aren't counting cards aren't card counters. They're not professional gamblers in that |
| 374 | 01:12:55,110 --> 01:13:07,500 | respect. But they have a house edge. These markets have a house edge to. And just like the wrestling that used to watch and I used to watch, and still on TV |
| 375 | 01:13:07,500 --> 01:13:17,580 | now, the outcome is predetermined. And I'm sorry, I don't care where you work. I don't care how long you've been doing it. But that's how I do this. I know what |
| 376 | 01:13:17,580 --> 01:13:25,530 | the scripts are. I'm telling you where they're going to go and why it's happening. If it wasn't, if it wasn't like that I wouldn't be this consistent. I |
| 377 | 01:13:25,530 --> 01:13:32,370 | wouldn't be telling you on Twitter in live streams when it's happening minute by minute candle candle, telling you exactly where it's gonna go to next. There's |
| 378 | 01:13:32,370 --> 01:13:44,160 | never been any other approach to trading in retail that delivers this measure of precision this consistently every single day. And that's not a brag, it's not a |
| 379 | 01:13:44,160 --> 01:13:56,130 | brag. It's this simple logic. Are you paying attention? Are you paying attention to the fact that these things repeat over and over and over again. Because that |
| 380 | 01:13:56,130 --> 01:14:08,130 | should give you comfort, knowing that just like your boring job that you go to you can't wait to escape, you can turn this hobby into that eventually, if you |
| 381 | 01:14:08,130 --> 01:14:19,800 | put the time into it. And going back to that equation where it's one of two things is you're gonna consolidate, when's it gonna consolidate Michael, ahead |
| 382 | 01:14:19,800 --> 01:14:31,590 | of a major rate announcement, ahead of FOMC expect what consolidation big money is not going to position in front of something like that in front of a CPI |
| 383 | 01:14:31,590 --> 01:14:49,590 | number. Okay, something like that. Or, after a large move the next session, the morning session, there it is. They're going to use the sentiment idea that this |
| 384 | 01:14:49,590 --> 01:14:58,650 | smart money sits on our hands and waits for the retail crowd to go in and chase what's already been going on overnight like like we have here. Is the market |
| 385 | 01:14:58,650 --> 01:15:08,760 | going anywhere right now. So anyway, This is exactly out of the rules that I've given you on my YouTube channel. I taught those roles in my mentorship in 2016. |
| 386 | 01:15:10,740 --> 01:15:23,700 | They're in videos that haven't been edited. I taught this in 1996. These very rules. They have been with me since then you have to understand that there is a |
| 387 | 01:15:23,700 --> 01:15:32,850 | rule of engagement. When do we engage? When do we anticipate certain things? Well, if it's not going to be those instances there, and then we have a medium |
| 388 | 01:15:32,850 --> 01:15:40,950 | or high impact news driver. How do we know that the economic calendar, they're not, they're not hiding it from you. That's the wonderful thing. They're not |
| 389 | 01:15:40,950 --> 01:15:49,260 | hiding that from you. They're telling you this is when we're going to release data to the public, that data has absolutely no bearing on the marketplace. It's |
| 390 | 01:15:49,260 --> 01:15:58,980 | just a smokescreen. When it doesn't favor the outcome, matching what the report suggests? Then I say, well, it was already baked into the price it's already |
| 391 | 01:15:58,980 --> 01:16:08,340 | priced in. And then when does cause a movement that would be justified in the expectations of why that market report came out in the market does a specific |
| 392 | 01:16:08,340 --> 01:16:15,420 | thing that you should be expected to do it and onwards if the report is bearish in the market tanks? Oh, well, there you go. That's, that's the reason why the |
| 393 | 01:16:15,420 --> 01:16:26,070 | market went down. That's not why they did. But they conditioned us called priming, priming, giving you something to expect over and over again, 234 times |
| 394 | 01:16:26,100 --> 01:16:39,900 | is enough for most humans, okay, well, it's gonna be the same thing next time. You're trapped. So the economic calendar, you need to know what that is going to |
| 395 | 01:16:39,900 --> 01:16:54,630 | be providing you. And you can look at it weeks in advance months in advance when there's the CPI number in April, about in may have been December all that stuff |
| 396 | 01:16:54,630 --> 01:17:06,840 | scheduled. Just like your favorite sports. Used to be when I grew up, it was Monday Night Football. I can't stand football. But everybody would be watching |
| 397 | 01:17:06,840 --> 01:17:22,560 | football. Monday night. You plan when you're going to engage these high impact news drivers if we don't have a move? Like it's no large range move. Or we have |
| 398 | 01:17:22,560 --> 01:17:33,090 | an overnight move like this. And we have a medium or high impact news driver, then we are likely to do what have a low resistance liquidity run. Oh, you went |
| 399 | 01:17:33,090 --> 01:17:41,820 | and said, that's what I'm teaching you to look for. This is a high resistance liquidity run signature. Meaning that yes, I can see where it's going. And I can |
| 400 | 01:17:41,820 --> 01:17:51,330 | outline it, you can see it happening. But number one, it's not a lot of movement to it's very, very frustrating waiting for it to happen. Like I can be doing. |
| 401 | 01:17:51,360 --> 01:17:55,110 | I'd rather wash my cars. Wash my cars. |
| 402 | 01:17:55,410 --> 01:18:05,790 | I had somebody tell me, there's no are in wash. Listen, I was raised by Virginia. And this is the way it was dark again. I know there's no earlier but |
| 403 | 01:18:05,850 --> 01:18:16,080 | I'd be right. I'd rather watch Mike I would rather cut the grass. Then do anything with this today. But I am teaching you how to anticipate this. So that |
| 404 | 01:18:16,080 --> 01:18:24,450 | way you can see there is logic, you can predict when the markets not going to do something. So therefore you can do what not trade don't even open your charts up |
| 405 | 01:18:24,450 --> 01:18:33,270 | have a like do something else. And then you can also know by having these instances understood, if it's not under these conditions, what are we looking |
| 406 | 01:18:33,270 --> 01:18:43,620 | for then we are looking for medium or high impact news drivers to provide a smokescreen to trip up lesson forum traders to be our liquidity in low |
| 407 | 01:18:43,620 --> 01:18:54,960 | resistance liquidity runs where the market just goes and just easy salad days, easy trading. So that means Easy, easy, easy. But every day is not a low |
| 408 | 01:18:54,960 --> 01:19:04,710 | resistance liquidity run. So the equation is this is the market that you're sitting out in front of likely to consolidate. How do we know it's gonna |
| 409 | 01:19:04,710 --> 01:19:11,160 | consolidate? I've already mentioned those rules here, go back, I'm not gonna repeat it here. If it doesn't meet meet that criteria, it's likely to |
| 410 | 01:19:11,160 --> 01:19:22,890 | consolidate then we are looking for medium or high impact news drivers to offer a smokescreen, and then a low resistance liquidity run. That means a nice easy |
| 411 | 01:19:22,890 --> 01:19:35,220 | run to liquidity or inefficiency. So now we have in the next equation, are we buying or selling? Where's the market? Ben? Where's it drawing to win the weekly |
| 412 | 01:19:35,220 --> 01:19:44,970 | and daily chart? Where's the stops that have not been tapped yet? Where's the inefficiency opposed to the most recent price direction? Well go back to this |
| 413 | 01:19:44,970 --> 01:19:52,890 | example here. We went down overnight. It's likely to consolidate but more specifically, we know that the retail track trader is going to do what you're |
| 414 | 01:19:52,890 --> 01:20:03,840 | gonna take Chase ago In short, they trap them here. Take them up to the inefficiency and buy stops too. Two birds, one stone then enter what |
| 415 | 01:20:03,840 --> 01:20:18,660 | consolidation buying here buying the order block into that area here. There's are two trades for today SMT diversions the NASDAQ failed to make that lower low |
| 416 | 01:20:18,660 --> 01:20:26,820 | here that qualified, the likelihood of getting up into that range. I mean, just look at where we're at here. I told you we can go down the middle that order |
| 417 | 01:20:26,820 --> 01:20:37,200 | block, they are mean threshold, that in itself selling short here. Target mean threat I'm sorry, consequent crushing of the wick, order block, mean threshold |
| 418 | 01:20:37,200 --> 01:20:55,770 | waterblock. There you go boom. It's 30 handles, or so. In a rough market, it's chop. I outlined it showed it to you. I'm not interested in trading it. Am I |
| 419 | 01:20:55,770 --> 01:21:03,420 | saying that? You shouldn't? No, you might see this and say, You know what, I'm not afraid of this, this makes perfect sense to me, I'm going to trade in these |
| 420 | 01:21:03,420 --> 01:21:11,220 | types of markets. I'm going to trade in consolidation, because I won't have my face torn off. When a big run that came into new works. I don't have to see that |
| 421 | 01:21:11,220 --> 01:21:20,640 | yet. And then over time, you'll learn how to do that other approach to trading, which is where I think the better strategies are, when you are trading with |
| 422 | 01:21:20,640 --> 01:21:27,930 | expansions where the market is quickly gives you what you're looking for. And you can be done and go out your business. I don't want to be in markets like |
| 423 | 01:21:27,930 --> 01:21:42,690 | this where it's really just it's daunting to watch this. It's like watching paint dry. So the equation is consolidation or expansion. Okay, if there's going |
| 424 | 01:21:42,690 --> 01:21:49,680 | to be expansion, is it bullish or bearish? That goes back to the weekly chart? Is it likely to expand up or down on the weekly chart, we're not trying to |
| 425 | 01:21:49,680 --> 01:21:59,700 | predict a closing price, we're just likely to see more movement up or more movement down based on the weekly chart, the next candle for the weekly? Is it |
| 426 | 01:21:59,700 --> 01:22:09,330 | more likely that it's going to make a move higher or lower? where's it gonna go to is their stops, it needs to go to efficiency. And that logic, we use that to |
| 427 | 01:22:09,330 --> 01:22:21,630 | the entirety of the week. Specifically, Monday, Tuesday, Wednesday, we're looking for the setup by then. Now, if we're bearish, because we expect the |
| 428 | 01:22:21,630 --> 01:22:30,960 | weekly chart to expand lower, we go in looking for discount raise anything below market price, what's market price, where it's trading right now and you sit down |
| 429 | 01:22:30,960 --> 01:22:39,810 | from your charts? Where's the inefficiencies below that, that would be in line with the expansion lower on the weekly chart. So we're in a sell program where |
| 430 | 01:22:39,930 --> 01:22:50,910 | we're looking for shorts, but we have to know what it's aiming for. Where's the sell stops? Is there any fair value gap below market price? Does that range |
| 431 | 01:22:50,940 --> 01:22:58,860 | offer opportunity for you to get at least five handles or 10 handles you can use as a filter. If it can move 10 handles, chances are you probably have a really |
| 432 | 01:22:58,860 --> 01:23:11,460 | good idea but an opportunity to get five handles painlessly. If you know that can move 10 And you're only trying to get five, that's very forgiving. You can |
| 433 | 01:23:11,460 --> 01:23:22,080 | be a little off on your entry. And you can be a little off on your exit and still get the meat on the bone. Dollar is ripping higher trading above its |
| 434 | 01:23:22,110 --> 01:23:32,100 | relative equal highs formed at 930 and 10. If you're looking at a one minute chart, that's going to offer some heaviness on ES. So since we're at the mean |
| 435 | 01:23:32,100 --> 01:23:40,440 | threshold here, that order block, remember I was saying if we have a body that closes below that that's going to offer what? To me, I would interpret that as |
| 436 | 01:23:40,440 --> 01:23:50,490 | heaviness. And then we'll be revisiting this low here to sell side now it exists here. Okay, give me one second. |
| 437 | 01:23:58,980 --> 01:24:09,660 | So we have one of two things happening here. If we we cancelled out the idea that the markets in consolidation, it's going to expand is expanding lower or |
| 438 | 01:24:09,660 --> 01:24:18,870 | higher. You determine it from the weekly chart. What are you doing on a weekly chart? What I've outlined here on this five minute chart where it should |
| 439 | 01:24:18,870 --> 01:24:27,090 | gravitate to all these levels I've outlined and told you beforehand, and it's going to them. That's the same thing you're doing with a weekly chart, is it |
| 440 | 01:24:27,090 --> 01:24:36,510 | let's see what's your what's your fearful others, you don't have time or experience? Watching price action? See, I'm taking you into the charts, looking |
| 441 | 01:24:36,510 --> 01:24:45,750 | at this stuff when it's boring. These are the times that you need to be learning because this is where you're going to lose money. Everybody can make money in |
| 442 | 01:24:45,750 --> 01:24:56,070 | big moves. If you're on sign in a big move comes. Everybody gets lucky and so everybody shows on their social media accounts. You see it that way. But most |
| 443 | 01:24:56,070 --> 01:25:05,460 | times, a lot of traders don't have an idea what it is they're doing or how to filter out, potentially losing days. And you've got people out there, they'll |
| 444 | 01:25:05,460 --> 01:25:14,910 | say terrible things about me and say I'm cherry picking, and putting things on Twitter that I don't delete. It's, it's, it's a track record. It's ongoing in my |
| 445 | 01:25:14,910 --> 01:25:27,660 | private mentorship, and commentaries, which I don't upload and upload them. I was doing what you see me doing on Twitter, daily 90% accurate. And if I'm not |
| 446 | 01:25:27,660 --> 01:25:33,930 | telling the truth, my mentorship students can come into a comment section and say, I'm a liar, go right on to Twitter and say, I'm a liar, there should be |
| 447 | 01:25:33,930 --> 01:25:41,520 | 1000s of people saying I'm a liar, you won't see that, you're gonna see people saying, no, he's telling the truth. I was there, I'm one of them. I've seen it. |
| 448 | 01:25:41,550 --> 01:25:55,800 | I've seen it just like you're seeing it right now. But you have to determine you have to determine whether you're going to be submissive to the process that's |
| 449 | 01:25:55,800 --> 01:26:02,400 | required, you're gonna have to put a lot of time into this. And you have to do exercises like I'm putting you through right now. And I guarantee most of you |
| 450 | 01:26:02,430 --> 01:26:12,810 | have probably started this video, turned it off, you're like, I'm just going, tell me anything, and you're going to fail. You have to know this part. And |
| 451 | 01:26:12,810 --> 01:26:23,460 | nobody writes books about this kind of stuff. Nobody sells courses about this stuff, because nobody would pay. And that's why they fail. That's why they fail. |
| 452 | 01:26:24,870 --> 01:26:35,130 | You want to know where you're going to mess up? Wouldn't that make sense? When it makes sense in anything else, you're going to pay money, invest time and |
| 453 | 01:26:35,130 --> 01:26:48,600 | energy into something. What could go wrong? Where will I hurt myself? Think about it. If you joined a gym and the pain paid for a personal trainer, one of |
| 454 | 01:26:48,600 --> 01:26:57,240 | the things they're going to tell you to do is do it this way. So you don't do what hurt yourself. Let's with your knees and legs, don't live with your back. |
| 455 | 01:26:59,340 --> 01:27:07,500 | It's always in everything we do. But when we come to trading, it's got to be something different. The guy or the gal that's teaching me that you got to teach |
| 456 | 01:27:07,500 --> 01:27:15,240 | me the way I want to be taught, I know how I should be taught, I know how I should learn this, then you already know don't come to me don't come to anybody |
| 457 | 01:27:15,240 --> 01:27:26,580 | else, you know, you're the teacher. But if you discern whether or not the markets going to expand or in consolidation, if it's not consolidation, you go |
| 458 | 01:27:26,580 --> 01:27:33,180 | to the weekly chart is it going to expand higher or lower? If it's expanding higher and you're bullish, you're in a belt, you're an epi program. That means |
| 459 | 01:27:33,180 --> 01:27:45,990 | you're gonna be looking for inefficiencies, fair value gaps, cities above market price, or buy stops. If you are looking at the weekly chart, and you think that |
| 460 | 01:27:45,990 --> 01:27:52,740 | the weekly candle is going to expand lower, you are in a sell program. That means you're gonna be looking for inefficiencies, fair pay gaps, bases below |
| 461 | 01:27:52,740 --> 01:28:10,230 | market price, or sell stops. Now, folks, listen, listen, please, please listen. How complicated is that? It does not take acrobatics. To accomplish a simple |
| 462 | 01:28:10,230 --> 01:28:16,860 | process of saying, Okay, we talked about how does the market consolidate? When does the market consolidate? What do we use an economic calendar for when are |
| 463 | 01:28:16,860 --> 01:28:30,810 | these trades going to form it's all programmed, it's all scripted. Your work, the requirement that's required for you to do this is you have to sit and study |
| 464 | 01:28:30,840 --> 01:28:43,440 | old moves, you have to do that. You have to do it and enjoy doing it. Because you're gonna do that the rest of your life as a trader, you want money, you want |
| 465 | 01:28:43,440 --> 01:28:53,850 | to make money, you want to profit, that will not happen consistently without you doing these types of things. Because this is what leads to that. You have to |
| 466 | 01:28:53,850 --> 01:29:10,410 | know where everybody else loses you avoid that. I'll say it again. Where everyone else fails, where everyone else fails. You are sitting still. |
| 467 | 01:29:12,540 --> 01:29:22,980 | Everybody's in this stuff right now. Maybe live streaming. They're in here, China, trade all kinds of stuff. They see something in chart. It's a religion. |
| 468 | 01:29:24,480 --> 01:29:27,360 | The Rorschach, you see whatever you want to be showing you. |
| 469 | 01:29:33,480 --> 01:29:44,910 | It's a simple process. Simple. Think about what I taught in a 2020 model. And it's 40 videos from last year. It's on my YouTube channel. If you're new, and |
| 470 | 01:29:44,910 --> 01:29:54,510 | it's the first time you watch the video from me, how should you begin trading? Well, you don't start with Ally funds. And you don't even go into a demo |
| 471 | 01:29:54,510 --> 01:30:06,000 | account. You study price action. That's what mentorship is with me. I teach How to Read price. I do not teach you how to jump into a live account, I do not |
| 472 | 01:30:06,000 --> 01:30:13,860 | teach you to go out there and trade with these lifelong accounts, okay? I'm interviewing students that have done that. But in my mentorship, I've never said |
| 473 | 01:30:13,860 --> 01:30:19,680 | go out there and trade with real money. I always talk you out of it, I don't want you to, because in the most time, when you think you're ready, you probably |
| 474 | 01:30:19,680 --> 01:30:27,630 | aren't you probably impulsive, you're in a hurry to start making money because you're broke, you need more money, you need a secondary income, or you just |
| 475 | 01:30:28,020 --> 01:30:41,070 | can't wait to have action. But you have to have, you know, at some point, you gotta listen to some voice of reason, someone that's been here before, I've hurt |
| 476 | 01:30:41,070 --> 01:30:50,460 | myself financially hurt myself, emotionally and psychologically, and physically hurt myself in these markets, doing the things that you're trying to do right |
| 477 | 01:30:50,460 --> 01:31:02,010 | now. And thinking that you're going to be exempt, you won't be exempt. There's a way to do this properly, painlessly and without losing money. You have to do it |
| 478 | 01:31:02,400 --> 01:31:10,110 | by going through old data, studying and getting a feel for what is a low resistance liquid urine signature? What does it look like when the market |
| 479 | 01:31:10,110 --> 01:31:18,390 | created these high impact news drivers? Because you can go back and look at old calendars. You can see where the old reports were. And study, what did they do? |
| 480 | 01:31:18,450 --> 01:31:29,190 | That's my back testing. My back testing is not going into a Forex tester or a futures tester and playing like in market replay that to me, that's an that's a |
| 481 | 01:31:29,190 --> 01:31:41,940 | walk forward. It's a walk forward test of a model without using real time data. My back testing the way I teach my students as you go through old data, and you |
| 482 | 01:31:41,940 --> 01:31:54,840 | find the patterns that I'm teaching you that price will follow. They're not retail patterns. I'm teaching you how to discern the narrative. Why price does |
| 483 | 01:31:54,870 --> 01:32:07,830 | certain things, when it will do it, how it will do it. All the questions that I get fast most times are all answered by you simply sitting in your charts. But |
| 484 | 01:32:07,830 --> 01:32:20,220 | see, the problem is this. You are afraid you're afraid that you're going to put time into this half assed, you're going to think and defend it and say, Oh, no, |
| 485 | 01:32:20,220 --> 01:32:30,990 | I did it. I watched all your videos, and I scribbled some things on a new pad. But you did not go through and study old price data. study how much time it took |
| 486 | 01:32:30,990 --> 01:32:41,550 | for the price of the move? How much drawdown did it take? How much time required before it moved into your first partial. And then you conditioned yourself by |
| 487 | 01:32:41,550 --> 01:32:56,730 | seeing example after example, after example, that when you do that, and you have a long log of examples of case studies, you will know what you're looking for, |
| 488 | 01:32:56,730 --> 01:33:04,770 | because it'll make sense to you, it will lead off at the chart, you'll know exactly what pdra If it's a breaker that you like, if it's an order block, a |
| 489 | 01:33:04,770 --> 01:33:18,630 | fair value gap, institutional order flow entry drill, optimal trade entry, Turtle Soup implied fair value gap where your trade setups form? Are you going |
| 490 | 01:33:18,630 --> 01:33:29,730 | to trade away from a new weak opening gap? When you're bearish to the next lower new fair value gap? Is that going to be your criteria for looking for your |
| 491 | 01:33:29,730 --> 01:33:36,330 | setups, some of you might not want to do that. Most of you probably would love to do that. Now, because you've seen the power and effectiveness of that pattern |
| 492 | 01:33:36,330 --> 01:33:51,090 | of that pattern with that concept of using those specific three levels. I don't tell you how you should trade. I give you the tools. I teach you the logic on |
| 493 | 01:33:51,090 --> 01:34:03,210 | how to read price action. And you find your perfect model for you. And once you find it you don't tinker with it. You don't mess around with it. You don't try |
| 494 | 01:34:03,210 --> 01:34:11,400 | to make it more fancy or more complicated. You don't do that you don't try to add other things that I've taught. If it doesn't require it don't don't even |
| 495 | 01:34:11,400 --> 01:34:24,360 | refer to it. Consolidation or expansion? consolidation, we do nothing. Expansion. Is it bullish or bearish? If it's bullish, what fair value gap or |
| 496 | 01:34:24,360 --> 01:34:32,070 | inefficiency above price? Or where are the buy stops? That's the draw on liquidity. If you're bearish you're gonna sell a program you're looking for |
| 497 | 01:34:32,070 --> 01:34:42,000 | inefficiency below price, sebi. I'm sorry, busy or sell side liquidity. That's it. That's what you're you're targeting that. That's how the market is going to |
| 498 | 01:34:42,000 --> 01:34:49,050 | move. That's it. There's nothing else is going to happen. There's absolutely nothing going to happen outside of those conditions period in a story. That's |
| 499 | 01:34:49,050 --> 01:34:51,330 | the way it is. That's the gospel. |
| 500 | 01:34:56,400 --> 01:35:09,960 | Now how do you treat it? That gets to what P Do you like? Can you see in order blah? Do you see the fair value gap? If you're bullish, say your expansion is, |
| 501 | 01:35:10,020 --> 01:35:17,910 | is when the weekly chart you think is gonna go higher, whatever market it is you're looking at, because it's not just, yes, it's every asset class, that if |
| 502 | 01:35:17,910 --> 01:35:26,910 | you think it's gonna go higher, you have drawn liquidity. That means some fair value gap above price or old high or highs, whereby stops are gonna be resting. |
| 503 | 01:35:26,940 --> 01:35:35,280 | That's the drawl and liquidity, you think you're submitting yourself to the idea that the market is going to gravitate up there. Why? Because the market goes to |
| 504 | 01:35:35,280 --> 01:35:46,560 | inefficiencies, for the purpose of providing efficiency. Or it's going to go to liquidity, orders that are hardline in the market sitting there resting above |
| 505 | 01:35:46,560 --> 01:35:57,240 | old highs, what's above old highs by stops. So what you're looking for is from that point at time, when you're expecting prices to go up there, if you're |
| 506 | 01:35:57,240 --> 01:36:06,360 | bullish. You want to see something as a discount that to buy off of a down close candle that has a fair value gap, boom, there you go. That's a high probability |
| 507 | 01:36:06,360 --> 01:36:17,190 | bullish order block. If you see that during a time window when I'm teaching, that this is where the algorithm will start spooling. See, it's not the buying |
| 508 | 01:36:17,190 --> 01:36:25,140 | and selling pressure. It's the requires immediate feedback. Always working in your favor. You can't take a losing trade, you can't accept the fact that you've |
| 509 | 01:36:25,140 --> 01:36:40,290 | done something incorrectly. Or your learning curve is a lot more demanding, then someone else. You cannot cry, insane. Just stuff doesn't work. And then say, |
| 510 | 01:36:40,290 --> 01:36:49,410 | well, there's no algorithm because I can't make it work. When you now see there's people all around the world, making real money. I told you I have |
| 511 | 01:36:49,410 --> 01:37:01,920 | students that are absolutely killing it. And honestly, telling you many times that not all of my students do well. Nobody has 100% strike rate in teaching |
| 512 | 01:37:01,950 --> 01:37:12,390 | everything. There's going to be people that come into this lazily and they will defend it vehemently. All I wrote in a journal. I watched all your videos ICT, I |
| 513 | 01:37:12,390 --> 01:37:24,960 | watched them. But what did you do with it? You can pay for cable TV, and get the Food Network and had the favorite Gordon Ramsay program filmed here. And they |
| 514 | 01:37:24,960 --> 01:37:36,000 | can walk you through step by step. This is the recipe to make this. Look, I'm above average intelligence, I think. But I know enough to know even because I'm |
| 515 | 01:37:36,090 --> 01:37:47,820 | watching that. I may have all the ingredients, my other may be set properly. My result is not going to be the same thing as Gordon Ramsay. Okay, just because |
| 516 | 01:37:47,820 --> 01:37:56,400 | I'm watching just because I paid for the cable television. Just because I sat down. And I wrote down the recipe and I recorded it and I go try to follow |
| 517 | 01:37:56,430 --> 01:38:07,380 | everything step by step I know enough that I'm not gonna get a Gordon Ramsay result, simply because I've watched and I scribbled some things down. And I paid |
| 518 | 01:38:07,380 --> 01:38:18,960 | my price to observe it. It's going to require me doing what doing that same recipe, same procedure process over and over and over again. Not every oven is |
| 519 | 01:38:18,960 --> 01:38:27,540 | going to cook the same way. I've discovered that in our new home. This is a home that has propane, I've never had propane before. There's always been natural |
| 520 | 01:38:27,540 --> 01:38:38,940 | gas. And it cooks differently. The stovetop cooks differently and the oven cooks differently. And to be honest with you, I miss natural gas. But learning this is |
| 521 | 01:38:38,940 --> 01:38:53,340 | no different. And weak minded. half assed wannabes that come here. And they try to learn and they can't do it. And they cry fat all this. This doesn't work. |
| 522 | 01:38:54,420 --> 01:39:06,210 | It's a fraud. It's a scam. No, you're a failure. You are you are failing you. How is it that everyone else? Even the ones that didn't even pay me are using |
| 523 | 01:39:06,210 --> 01:39:12,900 | the watches. I'm teaching on this YouTube channel. And they're getting funded. They're making money. They're making ends meet, they're seeing progress, and |
| 524 | 01:39:12,900 --> 01:39:20,400 | they see precision. And many of them are actually taking the same things I'm recording my executions on and they say, Oh, yes, the same trade off took that |
| 525 | 01:39:20,400 --> 01:39:31,080 | same trade. Here it is. I'm not telling you where I'm getting in. I'm giving you the logic of where the markets gonna go. And my students know how to read |
| 526 | 01:39:31,080 --> 01:39:38,880 | between the lines. Oh, we're aiming here. Okay, so we're in expansion. We're going to buy program, we're going to be looking for a premium array, it means |
| 527 | 01:39:38,880 --> 01:39:46,260 | there's some kind of SEBI or a fair value gap, or buy side liquidity we're going to aim for Oh, that's easy. So what we want to do get into it, I will just buy a |
| 528 | 01:39:46,260 --> 01:40:00,120 | fair value get. We'll buy a bullish breaker. Oh, suddenly it starts to make a lot more sense. You mean to tell me I don't mean to put all those things In |
| 529 | 01:40:00,120 --> 01:40:11,580 | those 1500 plus videos into every one of my trades, no, I don't. But those videos are teaching you how to be independently thinking about how your model is |
| 530 | 01:40:11,580 --> 01:40:24,420 | going to serve you. And you have to be willing to put in that time in I'm sorry, but some of you don't have the patience to give yourself the required time. And |
| 531 | 01:40:24,420 --> 01:40:36,060 | that's unfortunate. That's impatience. That's the lack of discipline. And frankly, laziness. Oh, I didn't call me lazy. I just did. I just did. And if I |
| 532 | 01:40:36,060 --> 01:40:46,680 | was standing in front of, I'd say to your face, that's exactly what it is. I've seen it so many times. The ones that really vehemently tried to defend Oh, I've |
| 533 | 01:40:46,680 --> 01:40:57,810 | done it, I did this, I did that they are the worst in terms of what they've done. The most laziest ones. And they never provide evidence, the proof the time |
| 534 | 01:40:57,810 --> 01:41:06,510 | they put into it, what they did, show me what you were doing. They won't do that. Because believe me, if you're doing all the work I teach you to do you |
| 535 | 01:41:06,510 --> 01:41:22,020 | have logs, logs of case studies that you studied. And my mind is the failures here, like everywhere else are the ones that do not put in the work. You're just |
| 536 | 01:41:22,020 --> 01:41:30,270 | lazy. You wanted lottery wins, easy money. Every every trade when Nope, doesn't exist. |
| 537 | 01:41:35,280 --> 01:41:50,070 | Look at the bodies of the candles at the mean threshold of that order block. Is that random? Think about what I said? Did we close with a body below that mean |
| 538 | 01:41:50,070 --> 01:42:00,060 | threshold? Nope. And if it did that, what would it mean? It would be heaviness? Meaning that we would revert back to this sellside liquidity? Because the bodies |
| 539 | 01:42:00,060 --> 01:42:18,990 | didn't do what? What engineers said needs to happen. Would the price do after that? Oh 20 handle higher. Where do we look at now? You extend your fair value |
| 540 | 01:42:18,990 --> 01:42:34,770 | gap over and you identify the high here with by side. But where's the entry? You have to reprice for weeks and months before you even consider taking trades. |
| 541 | 01:42:35,160 --> 01:42:42,780 | That's the part that you don't understand. You're trying to rush in there to do something. It won't make any sense to me unless I'm trade with iPhones. Okay, go |
| 542 | 01:42:42,780 --> 01:42:51,870 | fail, go fail. Call me a fraud and go trade something else. I don't care. I don't have time for you. The people that are going to be weren't learning how to |
| 543 | 01:42:51,870 --> 01:43:01,500 | do this. Listen, listen, you're meeting people that are making significant annual salaries that people in professions make. They're not doing a whole year |
| 544 | 01:43:01,500 --> 01:43:11,190 | of trading to get these types of results. Like that's obviously that's not typical. I can't say that you're gonna get that. I can't promise that. But |
| 545 | 01:43:11,400 --> 01:43:24,240 | doesn't it least inspire your curiosity to do it the right way? If I'm telling you, I'm here, I've already said it multiple times. I guarantee you this the |
| 546 | 01:43:24,240 --> 01:43:35,580 | same. Okay, get your soundbite recordings ready now the business inner circle trader Michael Joe Huddleston. Guaran damn tee is you, you will be able to read |
| 547 | 01:43:35,580 --> 01:43:54,120 | price better than you would ever learn from anyone using any other methodology, course, gimmick, tool, indicator, anything, you will not find anything more |
| 548 | 01:43:54,120 --> 01:44:02,730 | precise than this. I'm out here in social media waiting for somebody else to come out here and do anything better than I'm showing you. I'm showing you to |
| 549 | 01:44:02,730 --> 01:44:18,900 | the tick precision, daily crickets and failed live streams. That's what you're seeing a lot of talk but a nobody bringing anything better than this. You need |
| 550 | 01:44:18,900 --> 01:44:31,470 | to put the work in and fall in love with it. It's a lifestyle. You cannot be listening to Mickey Mouse mentors out there telling you that this isn't going to |
| 551 | 01:44:31,470 --> 01:44:39,240 | work for you. Because if you listen to that, and you take that in, you will believe it. And you'll never do the work to show you the person that's most |
| 552 | 01:44:39,240 --> 01:44:48,630 | important that you can. I don't need to be out here on Twitter. I don't need to be here doing live streams. I don't need to teach. I don't need to be doing |
| 553 | 01:44:48,630 --> 01:44:57,960 | this. I know it works. My students know it works. And you're seeing people with real receipts, the companies themselves that they're getting paid through |
| 554 | 01:44:58,380 --> 01:45:04,650 | because they can say oh he's faking it. his broker statements, you think these fund accounts are going to do these mock ups where they're interviewing people |
| 555 | 01:45:04,650 --> 01:45:15,210 | where they paid out money? You said you're gonna script that? Think about it. It first I'll be honest with you, I didn't like any disappointed account stuff. I |
| 556 | 01:45:15,210 --> 01:45:23,130 | didn't like it. But it makes a perfect argument to anyone else out there saying, Oh, they Photoshop their the results. And you're still seeing people saying, oh, |
| 557 | 01:45:23,130 --> 01:45:32,340 | it's fake. These companies that other people are trading with and getting withdrawals from their interviewing these students of mine. I'm not just taking |
| 558 | 01:45:32,340 --> 01:45:46,320 | their word for it. I'm seeing their receipts. They're being interviewed by the very companies that gave them the money. Pray tell, how on earth is that fake? |
| 559 | 01:45:47,550 --> 01:46:04,860 | How's that gained? See, I told you this year, I'm canceling all of your excuses. I've had profitable students, since the 90s. Folks, I can make traders make |
| 560 | 01:46:04,860 --> 01:46:17,040 | money, I can do that. I can do that for you. But you have to do all these things. And if you don't do it, you will fail. You will fail. And you're going |
| 561 | 01:46:17,040 --> 01:46:25,980 | to see, take that same logic into some Mickey Mouse operation somewhere else outside of me, and you'll try their garbage. And you'll fail there. And you'll |
| 562 | 01:46:25,980 --> 01:46:35,160 | be like the cynics out there in the world. Oh, everybody loses money trading. It's a game that nobody can win. Nobody can time to market. And you're a |
| 563 | 01:46:35,160 --> 01:46:45,180 | statistic. That's what you are. And I'm trying to prevent you from becoming a statistic. All you have to do is pay attention show up every day. cost you |
| 564 | 01:46:45,180 --> 01:46:48,270 | nothing. But you're getting a PhD |
| 565 | 01:46:57,150 --> 01:47:09,330 | don't know maybe I'm just an old fuddy duddy. I just, I just like things to be blunt. And sometimes that comes across as rude or arrogant. And that's not my |
| 566 | 01:47:09,330 --> 01:47:17,760 | aim and not believing I can be arrogant. I can I can do a lot of things that would be very arrogant. And I can show off. That's not what I want to be. I |
| 567 | 01:47:17,760 --> 01:47:25,920 | don't want to be that. But I do want to be a voice of reason. I do want to kick in the ass when you need it. Like you need to be shook up sometimes. Sometimes |
| 568 | 01:47:25,920 --> 01:47:32,850 | you do things lazily. Sometimes you just, you know, you shouldn't be in here pushing the button just trying to see what's going to happen. Think about why |
| 569 | 01:47:32,850 --> 01:47:42,690 | you're doing that. Why are you pushing that button? If there isn't anything in your model saying that you should be entering? What are you really compensating |
| 570 | 01:47:42,690 --> 01:47:53,340 | for your board? Someone hurt your feelings. You want to flex on somebody that says SMC ICT concepts are a fraud. ICT is a fraud. You want to go on social |
| 571 | 01:47:53,340 --> 01:48:05,850 | media, look at this trade I did. That's all the wrong reasons. Either your models in price or it's not. If it's not, you do nothing. If it goes past the |
| 572 | 01:48:05,850 --> 01:48:16,890 | time of our trade windows where we'd like to look at where price formations, you produce these setups, then you do what you turn your charts off, go do something |
| 573 | 01:48:16,890 --> 01:48:30,630 | else. As long as the sun rises tomorrow. And as long as these markets are here. Opportunity will be here. They will be here. Okay, I promise you. It will be |
| 574 | 01:48:30,630 --> 01:48:39,510 | here. Don't be afraid. Okay? Don't be afraid that it's going to take you a couple months or the rest of this year. Don't learn this. But ICT your Twitter |
| 575 | 01:48:39,510 --> 01:48:50,340 | scare the shit out of me. You're telling me that it's TEOTWAWKI the end of the world as we know it. That's always a given. And then the sun could go into a |
| 576 | 01:48:50,340 --> 01:48:58,890 | supernova. There it is, we're done. Is it likely to happen? Probably not. But if you're gonna live your life like that, good grief, just crawl on your bed and |
| 577 | 01:48:58,890 --> 01:49:11,280 | just wait to die then. But you have to at least take the initiative and do all the things I'm telling you to do. And yes, it's hard. It's hard, absolutely |
| 578 | 01:49:11,280 --> 01:49:25,560 | hard, because you're conditioning yourself to do something 90% of everyone else fail at and you know, that statistic coming in? What are they failing? They're |
| 579 | 01:49:25,560 --> 01:49:36,240 | failing to find something that matches their personality. They're failing to understand what makes markets go up and down. And they're failing to have sound |
| 580 | 01:49:36,270 --> 01:49:54,780 | risk management. Those three things if you just simply apply that to anything trading with a quarter you can be profitable doing that. sounds impossible but |
| 581 | 01:49:54,780 --> 01:49:55,350 | it's true. |
| 582 | 01:50:02,909 --> 01:50:15,029 | So we've already tapped the bottom or the low that blue fair value got. We've done that here. We rallied down to the mean threshold at the order block that I |
| 583 | 01:50:15,029 --> 01:50:25,889 | outlined, I said that we have to see a close if we close below that, and that would indicate what heaviness the bodies respected that. Now we're back up here. |
| 584 | 01:50:26,399 --> 01:50:35,369 | Why should it be returning here? What's what's in this area over here, that would be useful. If we didn't have these wicks. Now, this is important to this, |
| 585 | 01:50:35,399 --> 01:50:43,379 | you want to screenshot this, before I start seeing anything screenshot this actual portion of price action right now, I'll give you a second to do it. |
| 586 | 01:50:52,380 --> 01:51:00,390 | If this singular candle here with a wick that touches the fair value gap, if that was the only wick here, and we didn't have this one, and this one and this |
| 587 | 01:51:00,390 --> 01:51:09,630 | one, I would look at that wick and run consequent encroachment on that. And if they hit that, then I would expect it to just gravitate back lower and just be |
| 588 | 01:51:09,630 --> 01:51:20,400 | in this range longer. But because we have all of these wicks, that consequent encroachment to me, it's already been utilized multiple times. Here, and now |
| 589 | 01:51:20,400 --> 01:51:31,110 | we're into it here again. And here again, it's not of interest to me. Can it be referred to later on? Yes, I would like to see it if we go higher, I want to see |
| 590 | 01:51:31,110 --> 01:51:38,070 | it act as support. I don't want to see bodies trade down below that if we go higher, I don't want to see it close below the consequent Crotona that wick |
| 591 | 01:51:39,480 --> 01:51:48,660 | meaning that I favor a run into that fair value get once more and more specifically, the next level is that rejection block, which is the up close |
| 592 | 01:51:49,290 --> 01:51:58,140 | price on that candle here, the green one. So that level, that's the rejection block. Okay, I would want to see a trade up to that and watch it trade through |
| 593 | 01:51:58,140 --> 01:52:11,220 | it. And then if it comes back down, I want to see this fair pay gap act as support. Now, is that difficult? No. You just aren't familiar with seeing that, |
| 594 | 01:52:11,610 --> 01:52:23,640 | like I have for three decades. Once you see these things repeat over and over and over again. You're conditioned to anticipate specific things. Is there. |
| 595 | 01:52:24,270 --> 01:52:35,760 | Okay. Is there a breaker in here? No. So why are you worrying about breaker is not there? Are you? Do you see a volume imbalance in here? No. So why are you |
| 596 | 01:52:35,760 --> 01:52:46,860 | worried about a volume imbalance? You only are looking for what the price itself is showing you. That's all that's all you're doing. I've given you very specific |
| 597 | 01:52:46,860 --> 01:52:57,810 | PD arrays, things that produce results that can be measured in price movements in the past that you can build confidence on. Will you do them in the future? |
| 598 | 01:52:57,990 --> 01:53:11,640 | And do it wrong? Yes, I do. But they will serve you most times better than if you didn't use them at all. It provides context to price. It gives you the |
| 599 | 01:53:11,640 --> 01:53:18,120 | storyline. Where's the turning points? Where's the real support resistance? Where's the point of retracement? where's it gonna go to? Where could you |
| 600 | 01:53:18,120 --> 01:53:26,880 | reasonably expect the retracement to stop? Think about that. That's everything that every friggin book out there won't touch. Because they don't know. You |
| 601 | 01:53:26,880 --> 01:53:33,690 | don't think that there would be dozens of books, encyclopedias on price action, the way I'm teaching if everybody else knew this, if this was rebranded Why the |
| 602 | 01:53:33,690 --> 01:53:42,150 | fuck isn't an inlet and all these books because it's not. It's not their folks. I don't care how many as hurt little people that can't run their own businesses |
| 603 | 01:53:42,540 --> 01:53:52,410 | can't sell their shit on their own merit. They got to come up with this nonsense that justify why they suck. They suck. They can't do what you're learning to do. |
| 604 | 01:53:52,980 --> 01:54:04,800 | They can't call it live. They can't call it minute by minute. They cannot do it. But they're going to shame you. So that way you don't become better than them. |
| 605 | 01:54:05,550 --> 01:54:16,200 | Just like your friends and family. If you tell them what you're doing, I promise you, you're gonna get the opposite of what you expect to hear. You want to hear |
| 606 | 01:54:16,590 --> 01:54:27,540 | your brother, your sister, your cousin, your mother, your father, your your boss, your co workers. Oh, that's a great idea. Bruce, you know what you're |
| 607 | 01:54:27,540 --> 01:54:37,380 | going to do? Well, you're going to do well if that. If anybody was going to do it, Bruce, you're going to do it. No, no. Carl is going to tell you. You're |
| 608 | 01:54:37,380 --> 01:54:49,860 | going to fail. You're going to be working here the rest of your life just like me. I'll be employee of the month. Well, screw Carl. Don't listen to Bruce, your |
| 609 | 01:54:49,860 --> 01:55:02,580 | family members. They don't understand what you're doing. Believe me, believe me, not one of my family members even My uncle that got me into this. It was funny |
| 610 | 01:55:02,580 --> 01:55:13,260 | watching him when I was a teenager cheerleading it because he made money in the sugar market and 80s. He's like, Michael, a lot of my older students knew this |
| 611 | 01:55:13,260 --> 01:55:23,430 | story. I'll just make it real brief. Michael, when you get out of school, get yourself a college degree become an electronic technician, because that's what |
| 612 | 01:55:23,430 --> 01:55:36,660 | he was at Westinghouse. And do what? Learn how to trade futures and options, the richest people in the world, Michael, trade, futures and options. Now, this is |
| 613 | 01:55:36,660 --> 01:55:43,560 | my uncle who made money, he ended up buying a condominium in Ocean City, which is not a big deal. But back then that was a big deal. So of course, you know, as |
| 614 | 01:55:43,560 --> 01:55:51,570 | a typical teenager, 1415 years old, I'm like, oh, stock market, you know, I'm not interested. Let me watch my martial art movies and go to like martial art |
| 615 | 01:55:51,570 --> 01:55:59,430 | class and hang out my friends. That was that's what I was interested in. I didn't even worry about money because a kid interested in money. But then when I |
| 616 | 01:55:59,430 --> 01:56:15,630 | started doing this very thing in the 90s, and he saw me doing well. He actually turned around from becoming a cheerleader too. Why are you doing well, and I've |
| 617 | 01:56:15,630 --> 01:56:27,990 | done this longer. And when I was paying room and board, because I moved out of my grandparents, and moved in with them because I wasn't prepared to do much as |
| 618 | 01:56:28,260 --> 01:56:37,950 | I mean, I basically was a hospice nurse for my grandparents, and a student and marry too young. So I was doing too many things, plate spinning, failure in |
| 619 | 01:56:37,950 --> 01:56:45,270 | every aspect, except for taking care of my grandparents. But when they got too sick, when my grandfather passed away, my grandma had to go to a nursing home |
| 620 | 01:56:45,270 --> 01:56:55,680 | because we couldn't take care of her anymore. She, incontinence became a factor. My uncle said, Yeah, and you can stay with us until you get up on your feet. |
| 621 | 01:56:56,220 --> 01:57:08,040 | Great. So I'm in school, trying to get my computer science up to par so I can get my job as a system analyst. That was what I was trying to do. I got involved |
| 622 | 01:57:08,040 --> 01:57:22,500 | in trading. And one of the critical points in my development was when I told my uncle, I said, look, look what I'm doing here. This is the uncle to introduce me |
| 623 | 01:57:22,590 --> 01:57:33,510 | to trading at 14 years old. All he could talk with me about on Sundays at my grandparents trading, trading, trading. You know, he bought his wife, my aunt |
| 624 | 01:57:33,570 --> 01:57:42,600 | Fierro with not a Ferrari Figueroa GT, which was a cool car back then. And I love to sit in it. And I was like, now I have this and they had their house, |
| 625 | 01:57:43,170 --> 01:57:53,430 | everybody else rented. And they knew they own a home. They're, they're paying a mortgage on it, but they had a swimming pool. And to me, you know, we had to go |
| 626 | 01:57:53,430 --> 01:58:02,490 | to an apartment complex up the road, which was Maple Crest at the time to go swimming with somebody that was either a friend or a school meet that would be a |
| 627 | 01:58:02,490 --> 01:58:11,910 | resident there. That's that's the one we did. Where we went to a creek. You know, that's the way it was. But here, I've looked at him, I'm thinking myself, |
| 628 | 01:58:11,910 --> 01:58:21,000 | you know, you have all these things. I want to have those things too. And it inspired me to do things that would have otherwise been like the rest of my |
| 629 | 01:58:21,000 --> 01:58:29,760 | friends. They just didn't care. You didn't want to do anything really, they're lazy. And they all live lives that show that today. They never really put any |
| 630 | 01:58:29,760 --> 01:58:42,150 | kind of real effort into you building past whatever be considered just the average wage earners lifestyle. Am I sorry, Shawn, my uncle said, look, look |
| 631 | 01:58:42,150 --> 01:58:52,410 | what I'm doing here. Here's the 50 day moving average. I'm using it as my bias. If nine days ago, the moving average was lower than it is today. That means I'm |
| 632 | 01:58:52,410 --> 01:59:08,340 | bullish. Then I waited for a 60 minute oversold condition on a stochastic which was the the lines that you set those stochastics was five and smoothed by three, |
| 633 | 01:59:08,340 --> 01:59:18,870 | three, that was the settings I used. And I looked for a bullish divergence type one or a trend following. They call it hidden divergence. And Nick Berenice was |
| 634 | 01:59:18,870 --> 01:59:24,840 | the inventor of that he's the one that brought it to the community. He never gets credit for it. That pisses me off, that everybody else knows what a hidden |
| 635 | 01:59:24,840 --> 01:59:34,470 | divergence is, or a type two, but he's the only person ever brought it out. He did that in the 90s. He never gets credit for it. But that was my bicycle. That |
| 636 | 01:59:34,470 --> 01:59:44,370 | was my bicycle. And I only wanted to go long, because I didn't understand so I'm short. So I started showing him the results of doing that. And then as soon as I |
| 637 | 01:59:44,370 --> 01:59:56,970 | would tell him that I'm trying to buy either wheat, or I'm trying to buy live cattle, or I'm trying to buy crude oil or or copper is he's going in with his |
| 638 | 01:59:56,970 --> 02:00:11,700 | real count. Dating going out direction? Well, you don't need to tell you how that ended. But he got really, like, argumentative, where I was looking at, |
| 639 | 02:00:11,700 --> 02:00:21,480 | like, we're going to learn how to do this together. And it's going to create a better bond between the nephew, the, the uncle. And it is complete the circle he |
| 640 | 02:00:21,480 --> 02:00:30,030 | invented, he didn't invent it. But he introduced me to the idea of trading when I was a younger kid, in here in my 20s, I'm actually now doing it. |
| 641 | 02:00:31,500 --> 02:00:43,560 | And because my analysis was right, and he was fading, he wanted to be able to say, he beat me. That's what it came down to. He wanted to be able to do the |
| 642 | 02:00:43,590 --> 02:00:55,410 | opposite of what his nephew to the kid that he was encouraging. But no longer was encouraging. I was able to do something he was unsuccessful at, because he |
| 643 | 02:00:55,410 --> 02:01:11,070 | only got lucky and sugar after that. Last, last, last, last, last last last. And I understand why. He's a book smart guy, graduated with a finance degree |
| 644 | 02:01:11,400 --> 02:01:25,380 | specialized in Business Administration specializing in finance. That's where he went to school in University of Baltimore. And he is analytical to a fault. He |
| 645 | 02:01:25,380 --> 02:01:37,080 | wants black and white binary, it only can be this. And he's a natural contrarian. And I tried to tell him, this is how you use your personality like |
| 646 | 02:01:37,080 --> 02:01:46,260 | that. This is a model that do that and do well with it wouldn't do it wouldn't touch it. Even though I was showing him proof. This is what it looks like. This |
| 647 | 02:01:46,260 --> 02:02:02,820 | is what it will do tomorrow. Boom, it did it. Never touched it. Failed bail, bail, bail, bail. So when we, when I got the, my oldest son's mother, who was |
| 648 | 02:02:03,060 --> 02:02:16,290 | married at the time, I didn't know it. And yes, I had a relationship with her that resulted in having a son. He's my oldest boy. He he and I had a |
| 649 | 02:02:16,290 --> 02:02:26,520 | conversation, I said, Listen, I want to hide from this woman, because she's a gold digger. I said, let's, let's put some money into an account together. But |
| 650 | 02:02:26,550 --> 02:02:38,400 | the name will be in your name. Okay, that's great. I said, so what we'll do, anytime I need something, you just pay for it. You're not giving me cash. But if |
| 651 | 02:02:38,400 --> 02:02:57,390 | I need something, you just use pay for it. Okay. Great, no problem. Well, we put money in together. And I was supposed to be deciding what we do. And that didn't |
| 652 | 02:02:57,390 --> 02:03:11,880 | work out. When he got involved in making his own decisions. And he lost half of what we put in, he took his half out, which was the remaining balance. Now talk |
| 653 | 02:03:11,880 --> 02:03:24,660 | about a screw job. Yeah, that's exactly what family did. It was my half that we lost. He his half never got any, never no losses there, he gets to take all his |
| 654 | 02:03:24,660 --> 02:03:34,050 | money out. So that's what I'm telling you about money with family and trading with family. You can't mix those together, folks, your best friends, even you |
| 655 | 02:03:34,050 --> 02:03:45,660 | can't do that. You can't do it. So load them from a distance. Do what you got to do keep it to yourself. And there it is. Now you can create partnerships. I've |
| 656 | 02:03:45,660 --> 02:03:57,180 | had partnerships over the years, where everything is off the books if you want to say it that way. And you can develop really good friendships like that. You |
| 657 | 02:03:57,180 --> 02:04:07,560 | can be an angel investor with your skill set, and never bring any money to it. And when you need help with something, they're there to scratch your back. And |
| 658 | 02:04:07,560 --> 02:04:18,330 | unfortunately, I had to live like that for a number of years because a gold digger knew I had a skill set that was going to lead to a better lifestyle than |
| 659 | 02:04:18,330 --> 02:04:31,350 | her husband was providing her. And my friends at the time, did me a great disservice by telling her where my pursuits were. So she had an insight that I |
| 660 | 02:04:31,350 --> 02:04:43,620 | didn't know she had. And yes, I take full responsibility of having relations with her that resulted in my oldest son who I love. But we raised him with joint |
| 661 | 02:04:43,620 --> 02:04:58,740 | custody. And I had to do a lot of things to live away from her reach. And maybe you wouldn't do those types of things. Maybe you would do something entirely |
| 662 | 02:04:58,740 --> 02:05:11,310 | different but my son did not want for anything, did not want for anything. And when I was working at Domino's I was doing that so she wouldn't get more than |
| 663 | 02:05:11,310 --> 02:05:21,660 | she should have gotten. In any time, I could have stopped. And I shared on Twitter years ago, a picture of me when I stopped in on my birthday, I'm sitting |
| 664 | 02:05:21,660 --> 02:05:31,230 | in my Domino's uniform. And I'm taking a bite of my Birthday Cake, ice cream cake and my mother took a picture of me in the face that I'm making, you can |
| 665 | 02:05:31,260 --> 02:05:40,560 | look at that day, I was thinking myself, Do I really want to put myself through this? Like, I don't think I'm doing the right thing. And every time I thought |
| 666 | 02:05:40,560 --> 02:05:56,250 | about her getting more from me, because she was an opportunistic person. This is not a sexist remark. Okay. She was calculated in what she was doing. And only |
| 667 | 02:05:56,250 --> 02:06:08,700 | when she got pregnant, she told me she was married. And she had a son, I knew nothing about. That's some low, greasy shit. Here I am. I'm 20 some years old, |
| 668 | 02:06:09,180 --> 02:06:23,820 | fresh out the box ready to run. And I have all this. So I had my son five days a week, except for Thursdays, which that was her only nightmare. She didn't run |
| 669 | 02:06:23,820 --> 02:06:35,490 | around doing her thing. And she'd have him then. So I was not a deadbeat dad, and I had all the problems that you might consider this a disadvantage for you. |
| 670 | 02:06:35,700 --> 02:06:43,860 | I'm a single parent, ICT. I don't make enough money and I had this problem. I gotta go to school. Listen, there ain't nothing you're going to tell me that I |
| 671 | 02:06:43,860 --> 02:06:58,140 | didn't have to. I had to ever see adversities to me. And believe me, I had all that. It wasn't easy for me. And I can see how the Lord laid my steps in |
| 672 | 02:06:58,140 --> 02:07:06,540 | accordance to how he led me to where I am right now. Everything happened for a reason. And while you're going through it, you feel like it's the worst thing |
| 673 | 02:07:06,540 --> 02:07:18,930 | could ever happen. It's being held, you're being held back. You're being hindered. Sometimes it's a good thing. Sometimes it's better for you not to be |
| 674 | 02:07:18,930 --> 02:07:27,000 | so successful right away. Sometimes it's better for you to wait and defer what you know you can do until a better time |
| 675 | 02:07:35,790 --> 02:07:48,720 | my uncle, I wish he would have been more successful trading actually gave him access to my my mentorship didn't use it is pride won't let him do it. Think |
| 676 | 02:07:48,720 --> 02:07:56,130 | about that. Most of you out there that are still email me know you can't join that private group. So please stop asking. I'm not trying to be ignorant to you. |
| 677 | 02:07:56,490 --> 02:08:07,470 | But I'm reminding you, I'm not selling a mentorship. You're not joining it, you can't get into it, that community is closed off. But most of you were to your |
| 678 | 02:08:07,470 --> 02:08:19,830 | own arm off to be able to get in there. And I gave that to my uncle. I said, Listen, just join us as part of the community. Loop he signed in one time, and |
| 679 | 02:08:19,830 --> 02:08:35,340 | that was it never ever, ever signed in again. That's a bitter person. That's bitterness. That makes no sense to me. It makes no sense at all. Like I would |
| 680 | 02:08:35,340 --> 02:08:41,280 | literally drive to his house every single day because I love him. He's been like a father figure to me. Isn't that just you hear me saying all these things you |
| 681 | 02:08:41,280 --> 02:08:55,470 | might think I have a poisonous venomous view about him. I don't, I feel sorry for him. I would literally drive to his house by a setup, set his trading room |
| 682 | 02:08:55,470 --> 02:09:06,240 | up with my own money, find him with my own money and sit down with him and teach him until he knew how to do this on his own. He won't do it. Tell me how to make |
| 683 | 02:09:06,240 --> 02:09:21,420 | that makes sense. It doesn't, it means he's bent. It's worked him in I've seen that and other people that have nothing to do with me just other traders that is |
| 684 | 02:09:21,480 --> 02:09:32,970 | out there. And it just eats them up like a cancer mentally they just they just can't do it. They have no discipline. They are the problem. They can't see it no |
| 685 | 02:09:32,970 --> 02:09:43,020 | matter how much you show them. That they're the problem. And that's unfortunately I think that's what most of this industry's failures are stemming |
| 686 | 02:09:43,020 --> 02:09:54,780 | from. It's not just the fact that the retail stuff is garbage. How we are to think about ourselves, how we conduct ourselves how we are to handle adversities |
| 687 | 02:09:55,110 --> 02:10:10,470 | stresses, losing doing things incorrectly. That is the, the factors that leads to people not being successful in this industry. And that's why I like a lot of |
| 688 | 02:10:10,500 --> 02:10:26,550 | books that are revolving around psychology, substance abuse, I have never drank alcohol. And I don't take pain pills, despite what many people will say. I'm |
| 689 | 02:10:26,550 --> 02:10:37,980 | pretty straight error. If I take an Advil, I feel that one Advil. And it's rare that I need to do that at all. I don't take medicines. I should guess in some |
| 690 | 02:10:37,980 --> 02:10:47,850 | medical professionals opinion, maybe some of you as listeners, because I'm bipolar. But I refuse to take a medicine like that, because it would alter my, |
| 691 | 02:10:48,180 --> 02:10:56,880 | my state, and my ability to focus and it would change who I am. And I'm not going to do that. So you have to take the good with the bear with me. Sometimes |
| 692 | 02:10:56,880 --> 02:11:11,640 | I'm gonna not be Mr. stay stable, okay. I'm doing my best. I think I'm doing pretty good today. But usually, sometimes I'm not very successful with it, and I |
| 693 | 02:11:11,640 --> 02:11:25,440 | go off the rails. But you're getting truth, even then, you're just getting it much more passionately delivered. But you don't realize what you're bringing to |
| 694 | 02:11:25,440 --> 02:11:33,150 | yourself, when you get involved in this. You think it's just the charts. And it's not, it's what's going on in your personal life. It's what you're feeling, |
| 695 | 02:11:33,540 --> 02:11:49,320 | your fears, your impatience about the success that you so painfully want to happen real quickly for you. In these candlesticks, they are going to be perfect |
| 696 | 02:11:49,320 --> 02:12:05,640 | vehicles for you to manifest impulsiveness, to manifest impatience, to manifest fear, and greed. So, the reason why I tell you and I preach this really hard |
| 697 | 02:12:05,730 --> 02:12:12,450 | that you should not be learning how to trade with a live account, I don't care if anybody tells you put the smallest amount and trade with a small amount |
| 698 | 02:12:12,450 --> 02:12:20,400 | because you can't learn a trade without putting money in it wrong. I don't care who you are, I don't care how many people follow you. Period. That is the |
| 699 | 02:12:20,400 --> 02:12:35,490 | stupidest advice anybody should ever receive or gift anyone else. The only thing you're going to get from that is the development of fear and regret. Oh, I wish |
| 700 | 02:12:35,490 --> 02:12:48,840 | I would have done it with real money. 20 bucks. 20 bucks is nothing. Okay? Would you go down the highway and just toss out 20 bucks every morning at nine |
| 701 | 02:12:48,840 --> 02:12:57,840 | o'clock. It's not a lot of money. But would you do it? Now, that's what you're doing when you trade with a live account without knowing what you're doing. |
| 702 | 02:12:59,700 --> 02:13:09,330 | Seems like a silly analogy. But that's what you're doing. You're throwing money away, doing it consistently the same way, not knowing what you're doing. If |
| 703 | 02:13:09,330 --> 02:13:20,640 | you're telling me are going to make the argument that you're not going to learn how to read what price is going to do without having a measurement applied to |
| 704 | 02:13:20,640 --> 02:13:30,450 | the candlestick that you're looking at? You need money to do that. You need money to be able to see if that candle isn't performing like you want it to. |
| 705 | 02:13:31,500 --> 02:13:43,320 | What are you looking at them? Because I'm giving you very specific PD arrays, things that you are going to absolutely go in there and study specifically. It's |
| 706 | 02:13:43,320 --> 02:13:52,740 | not ambiguous. These are very finite levels. There's very specific there's a reason for why I'm talking about them. And are they respecting price? Are they |
| 707 | 02:13:52,740 --> 02:14:05,370 | gravitating to them? Are they repelling them? You need to have a live account with some kind of risk on this to see that. That makes no sense to me. It makes |
| 708 | 02:14:05,400 --> 02:14:18,840 | zero sense. You need to learn how to be indifferent to the result of every trade. Because if you don't lose this fear that you have right now, or being |
| 709 | 02:14:18,840 --> 02:14:29,580 | wrong. The only way you get over that is by looking at price action when there's no trade on. You're not even pressing a demo. Because in the beginning, men, |
| 710 | 02:14:30,000 --> 02:14:39,150 | your pride is gonna get bruised, real easy. And you're gonna have that measuring up. Factor step in, you know what it's like when your girlfriend talks about |
| 711 | 02:14:39,150 --> 02:14:50,940 | their ex. You know exactly what I'm talking about. You start doing that with your trades. And unfortunately that's the worst thing you can do. Remove any |
| 712 | 02:14:50,940 --> 02:15:03,960 | measurement of success or failure by having no trade placed. None reading price interpreting what price is likely to do next. Studying. How do you feel while |
| 713 | 02:15:03,960 --> 02:15:14,040 | you're watching price? Do you feel anxious? Do you feel restless? Do you feel like you're impatiently waiting for something to happen? And you just are bored? |
| 714 | 02:15:14,130 --> 02:15:20,760 | Are you bored, not in the sense that you're bored, not learning what you're doing. But you're bored. Like, you'd rather be doing something else, instead of |
| 715 | 02:15:20,760 --> 02:15:31,770 | learning how to do this. Because that's a real thing, too. If you don't want to be looking at these candlesticks, you're going to fail. Okay. And that's what we |
| 716 | 02:15:31,770 --> 02:15:41,910 | do as traders, we look at price action, whether you're looking at indicators, or whether you're looking at this naked charts, you got to submit to that that's |
| 717 | 02:15:41,910 --> 02:15:50,370 | part of this whole business. And you'd be surprised how many students have come to me over the years. They're like, I can't do this, this is I don't have it for |
| 718 | 02:15:50,370 --> 02:15:58,350 | me. Okay, that's, that's being responsible. That's you being realistic about it's not the fact that these things don't work. It's just the fact that you |
| 719 | 02:15:58,350 --> 02:16:07,500 | can't do it. Well done for being responsible. But that's not what's in vogue. Now. What's in vogue is failure because they don't want to put the work in, they |
| 720 | 02:16:07,500 --> 02:16:20,580 | have not done what they were instructed to do. They haven't done it long enough. So therefore, laziness. It doesn't work. No, you don't work. You're not working |
| 721 | 02:16:20,580 --> 02:16:31,260 | hard enough. Because there's people around the world, all different walks of life that are taking this information, the same information. And doing extremely |
| 722 | 02:16:31,260 --> 02:16:44,460 | well. That's undeniable, you can't argue it, you can't beat it. You can't defend against it, because it's facts. And they're doing trades that I don't put them |
| 723 | 02:16:44,460 --> 02:16:58,410 | in. So where do we get the information from their own model, using what was instructed of them? Taking it and making it theirs. And that's how I teach. You |
| 724 | 02:16:58,410 --> 02:17:07,920 | can't do it any other way. Now, if I have a model that says, hey, this is the only way you're going to do it, this, this, this, this, this, and that's it, |
| 725 | 02:17:08,100 --> 02:17:19,020 | some of you could do that. Some is not my goal, I want all of you to have the same opportunity to be able to make your own unique model with this information. |
| 726 | 02:17:20,490 --> 02:17:28,680 | And worrying about oh, they're going to change the algorithm, oh, they're going to change things and make it impossible for this and that, listen, the only way |
| 727 | 02:17:28,680 --> 02:17:36,450 | this stuff stops working is when there's no more trading in the heart entirely. It's it. As long as there's trading, this is going to continue to work. I've |
| 728 | 02:17:36,450 --> 02:17:46,350 | said it many times in the past have tweeted many times in the past, this is not going to stop working period, there's going to be an open, there's going to be a |
| 729 | 02:17:46,350 --> 02:17:54,270 | high is gonna be a low, there's gonna be a close, there's going to be a gap that forms on Sunday, sometimes there's gonna be a gap, when it opens back up at six |
| 730 | 02:17:54,270 --> 02:18:06,900 | o'clock. There's going to be an inefficiency in price delivery. That is what you don't understand, because you're an infant in this. You're so new, you have no |
| 731 | 02:18:06,900 --> 02:18:17,910 | idea because you haven't done any real research and old price movement. These things have gone on forever. You just have never been brought in front of the |
| 732 | 02:18:17,910 --> 02:18:27,360 | chart, and looked at it and identified it as such. And that's what I'm telling you, you have to do that. Yes, you got to stop hanging out with your friends and |
| 733 | 02:18:27,360 --> 02:18:36,510 | your girlfriends and watching stupid TV programs and movies and wasting time playing video games. Go into these charts and take time studying them, look at |
| 734 | 02:18:36,510 --> 02:18:47,370 | old moves, break them down, explain it to yourself like you're teaching someone else. Say this is what I see. In hindsight, I'm going to explain what took place |
| 735 | 02:18:47,370 --> 02:18:56,130 | here using the logic that I teach in price action. Now you see me do it live minute by minute candles. You do the same thing you see me outlining, but you |
| 736 | 02:18:56,130 --> 02:19:05,550 | have the benefit of hindsight. And then after you're done annotating your chart, reasoning with why it did what it did, who was going to fail? Who was going to |
| 737 | 02:19:05,550 --> 02:19:18,090 | lose money, who did the market move against? Why? And how could smart money be an opposing liquidity to that move that will be profitable for them in how that |
| 738 | 02:19:18,090 --> 02:19:28,320 | it hurt retail. You go into your own moves like that. That's how I back tested. That's how I teach my students to back test. It's not pushing a market replay in |
| 739 | 02:19:28,320 --> 02:19:38,250 | watching a trade panel. That's a that's a walk forward test. That's not That's not what I'm saying before you even get there. You got to spend time in old |
| 740 | 02:19:38,250 --> 02:19:46,950 | price moves, annotate your charts. You walk out the whole details of what you see through the benefit of hindsight. And you're going to see these reoccurring |
| 741 | 02:19:46,950 --> 02:20:00,750 | things repeat over and over again. And then you'll be confident when you see me tweeting. Note this fair value gap here and note this by side what Am I saying |
| 742 | 02:20:00,750 --> 02:20:10,320 | when I do that? Did I say, by the fair value gap and take profits at that buyside liquidity? No. But you know, damn well, if you've been around for a long |
| 743 | 02:20:10,320 --> 02:20:21,450 | time, you're expecting me to do a trade recap later on or screenshot this, and you do a victory dance, because it's drawing to where I told you to look for |
| 744 | 02:20:22,260 --> 02:20:32,010 | keying off of that fear that you got. That's not a signal. I'm not going to place you in a trade. But I'm teaching you how to anticipate I'm building your |
| 745 | 02:20:32,010 --> 02:20:44,550 | anticipatory price skills. That's the first step, you have to know where it's going. If you can learn that skill set, I promise you the entry stuff is easy. |
| 746 | 02:20:45,690 --> 02:20:54,840 | When I do my trades, and I'm building pyramid up positions, I'm literally using every potential trading entry that you could utilize in that fractal at that |
| 747 | 02:20:54,840 --> 02:21:03,750 | time, it matters not if you use the very first one I use. Go back and look at my examples on Twitter, every time I do a trade execution, I don't put it in my |
| 748 | 02:21:03,750 --> 02:21:16,410 | private mentorship, I put it out where everybody can see it. Look at what I'm doing. Every one of those is a example of an entry which one makes no sense to |
| 749 | 02:21:16,410 --> 02:21:24,900 | you. And don't look at it from the perspective of Well, this one would have a smaller stop loss. So that's the one I want know which one makes more sense. |
| 750 | 02:21:25,200 --> 02:21:34,380 | What are you seeing in that example, me entering the trade and when I'm building up the positions, and appear meaning adding more to it? Which one of those entry |
| 751 | 02:21:34,920 --> 02:21:45,180 | points makes the most sense to you and why? And that's where you want to start. That's where you start. That's the very point at which that's the first |
| 752 | 02:21:45,630 --> 02:21:57,330 | beginning step to how you work in your entries. But we're not at entries yet. I promise you, we will be pushing the book, I will be pushing a button in this in |
| 753 | 02:21:57,330 --> 02:22:08,670 | front of you, I will be doing that. But before I do that, you have to understand why am I even interested in buying or selling, it has to be going somewhere has |
| 754 | 02:22:08,670 --> 02:22:16,800 | to go somewhere has to be a reason for it to be wanting to go there. There has to be a logic behind it that I've already taught. I can't be making something up |
| 755 | 02:22:16,800 --> 02:22:25,110 | as I go along. And these are always the same arguments. He's always got something to do something in any market environment. You're damn right. Because |
| 756 | 02:22:25,110 --> 02:22:33,270 | the market doesn't just do one thing. It's not a one trick pony. I want to be able to trade when I'm going to the markets going to create a high on Tuesday or |
| 757 | 02:22:33,270 --> 02:22:42,990 | a low on Tuesday. How about when it makes the higher low on Thursday? How about when it makes the higher low on Thursday on the New York session? I have macros |
| 758 | 02:22:42,990 --> 02:22:55,260 | for all that stuff. I have a playbook. Okay, I have a playbook that if I was an NFL coach, they would be breaking in my house to get this. It's not you know, |
| 759 | 02:22:55,260 --> 02:23:07,470 | it's not literally here, it's in my head. But the point is this. I have a game plan for more than one way to beat the shit out of these markets. I don't want |
| 760 | 02:23:07,470 --> 02:23:15,690 | to be stuck with just one approach. I'm not a one trick pony. And I promised you at the beginning of the year, I was going to show you things that you haven't |
| 761 | 02:23:15,690 --> 02:23:30,450 | seen yet even my private students, different entry models, different models, different approaches to entering the market analysis concepts. I got weapons you |
| 762 | 02:23:30,450 --> 02:23:40,740 | guys have never seen before. And you don't need them. I've already given you enough. I've already taught you how to trade. But what you need to do is do this |
| 763 | 02:23:40,740 --> 02:23:49,110 | sit here and watch price. And if I wasn't talking and jawboning to you, you probably be bored to death and probably pissed off because I'm jawboning. What |
| 764 | 02:23:49,110 --> 02:23:58,170 | about what I'm talking about. You're not prepared to be here, then if you if you can't sit here and listen to this because this is what you're going to have to |
| 765 | 02:23:58,170 --> 02:24:06,690 | endure these things. If you're going to be a traitor, you're going to eventually have these problems that you're going to contend with the wrestling matches in |
| 766 | 02:24:06,690 --> 02:24:15,450 | your mind. Or if you share your results with somebody else, how they make you feel. Who cares what anybody else's opinion about your results are, you |
| 767 | 02:24:15,450 --> 02:24:26,670 | shouldn't be sharing with anybody anyway. You think they're going to cheerlead you on? Wow, look at you. You're a goat. If you need that, that's a character |
| 768 | 02:24:26,670 --> 02:24:34,980 | flaw. That means you're weak minded. I don't want people calling me to go. I don't want anybody to cheer me on. No worship, no, none of that stuff. I'm not a |
| 769 | 02:24:34,980 --> 02:24:48,990 | king. But this industry is going to show you a lot about yourself. That, unfortunately gonna be really uncomfortable for you. When you discover you |
| 770 | 02:24:48,990 --> 02:24:57,840 | probably aren't as equipped as you thought you were. It doesn't mean you can't trade. It doesn't mean you can't develop into a profitable trade. It just means |
| 771 | 02:24:57,840 --> 02:25:09,960 | that you're going to have to fix those problems. There's kinks in your armor, they need to be hammered out. And unfortunately for men, that doesn't happen |
| 772 | 02:25:09,960 --> 02:25:21,090 | real fast, which is why you see a lot of people on social media, making pseudo wars and competitions and I'm better than you and you're better than nobody |
| 773 | 02:25:21,090 --> 02:25:29,130 | else. And you gotta do this. And you do that, because they have a character flaw. And you can't help people like that they have to wrestle through that |
| 774 | 02:25:29,130 --> 02:25:38,490 | themselves. And why would you open that up for yourself, if you know that your feeling is impulsiveness, about wanting to go out and show your results to |
| 775 | 02:25:38,490 --> 02:25:52,170 | somebody else on social media, whether it be me or anybody else? Ask yourself a question. Why do you want to do that? What are you wanting to get from that? If |
| 776 | 02:25:52,170 --> 02:26:02,940 | you're needing encouragement, that means that you're not satisfied with the continuity and consistency and frequency of what you're doing. Because I don't |
| 777 | 02:26:02,940 --> 02:26:14,760 | need anybody to tell me this stuff works. I know it does. I share it so that way you can be encouraged by it. I'm a teacher. I'm teaching you. I teach my |
| 778 | 02:26:14,760 --> 02:26:23,730 | students to cheerlead themselves. When they watch price, go to the level that we've outlined beforehand. That's not gloating. That's not bragging, I'm making |
| 779 | 02:26:23,760 --> 02:26:34,890 | a moment. Emotional for you. So that way, you can say, Oh, wow, I sat through this, I watched it deliver, Wow, it really did that. And it makes it an anchor |
| 780 | 02:26:34,890 --> 02:26:43,140 | point for you mentally, so you remember it, and you'll be more inclined to do what with it, journal it. This was a great day today, I watched this price |
| 781 | 02:26:43,140 --> 02:26:48,390 | action move here, blah, blah, blah. And there it is. Now it's in your journal exactly where it needs to be. And then when we can, you're gonna go back and |
| 782 | 02:26:48,390 --> 02:26:55,920 | read it in your own words. And you say, it was really interesting to watch how this happened. And I'm so happy to see how it unfolds, you're giving yourself a |
| 783 | 02:26:55,920 --> 02:26:56,910 | cheerleading session, |
| 784 | 02:26:58,440 --> 02:27:09,000 | you need to do that. You don't open up the opportunity for some trolls, or pseudo competitors, or people just have no interest in helping anybody else. |
| 785 | 02:27:09,240 --> 02:27:20,430 | They just want to detract, discourage you, there's no place in that new place in your trading or in this industry for that. It doesn't make anybody better. It |
| 786 | 02:27:20,430 --> 02:27:30,000 | just shines a light on them as a pathetic piece of shit. So why give them the opportunity to do that. You're not going to get what you want, really. You might |
| 787 | 02:27:30,000 --> 02:27:38,220 | get a couple people, especially in our community will be like, Hi, five units, wonderful. But really think about it for a second, why do you need that? Why |
| 788 | 02:27:38,220 --> 02:27:49,320 | would any of my students need to do that? The only reason why that would happen is that you haven't seen enough of it for you to be bored by it yet. I have a |
| 789 | 02:27:49,320 --> 02:27:57,180 | lot of students that are there now. And that's why there's not a lot of them worrying that whether you believe they believe you or you believe them, they |
| 790 | 02:27:57,180 --> 02:28:05,250 | don't care. They're doing it. You honestly believe the folks that I'm interviewing, that are making the money they're making? Do you think they really |
| 791 | 02:28:05,250 --> 02:28:14,850 | give a shit whether you believe that they can do it or not? Is it having any impact on what they're going to do tonight, next week, by the end of the year, |
| 792 | 02:28:15,690 --> 02:28:24,540 | has no bearing. They don't care. They have found what they've been looking for. Nobody's detracting them, no one's gonna convince them that they didn't do the |
| 793 | 02:28:24,540 --> 02:28:35,130 | right thing by sticking with it. And I promise you, they're not in a position where they got to feel like they gotta constantly prove anything to anybody. |
| 794 | 02:28:35,430 --> 02:28:42,660 | They're living it. They look in the mirror and they say that is my evidence right there. You're the person that did that yesterday. Wow, you did a great |
| 795 | 02:28:42,660 --> 02:28:53,250 | job. But the weak minded individuals that feel like they have to be reminded you got to be pinched, that it's real. That's normal in the beginning. It's normal |
| 796 | 02:28:53,250 --> 02:29:02,610 | for you to feel that way. That you got to feel like someone else can confirm what you're doing. It's real. Like, yeah, you really are trading. Yeah, you |
| 797 | 02:29:02,610 --> 02:29:11,160 | really took that money out. It's not a dream. It's happening. That's understandable in the beginning. But if your steady diet is you got to |
| 798 | 02:29:11,160 --> 02:29:18,630 | constantly keep going through social media with it. If you're profitable, you don't need to do that. Because your profits are going to tell you everything you |
| 799 | 02:29:18,630 --> 02:29:26,460 | need is going to either be you're losing and you're off your model. You're not doing what you're supposed to be doing. And you're getting immediate feedback, |
| 800 | 02:29:26,520 --> 02:29:36,510 | or you're following your model. You're making money and who cares what anybody thinks you're doing it. You don't you don't need anybody, anybody that all to |
| 801 | 02:29:36,510 --> 02:29:45,750 | cosign that you're doing it right, because you're making money. That's a goal for all of you. You need to get to that point. And there's a goal before that |
| 802 | 02:29:45,780 --> 02:29:57,090 | where you get to see where price is likely to go next. And you're bored by going exactly how you want to see it happen in your charts. I love sharing it with you |
| 803 | 02:29:57,090 --> 02:30:05,610 | on Twitter in line. I love it because I know It felt like for me when I started feeling like I was close to it. And I would get these once in a while beginning |
| 804 | 02:30:05,610 --> 02:30:16,500 | moves of consistency and continuity in my analysis. That was, I needed to have that sounding board where I could bounce an idea off of someone and say, Look, |
| 805 | 02:30:16,500 --> 02:30:25,200 | you know, this is what I've been doing, do you feel like this is something that I should pursue, but I didn't have that. So I had to do what stick to my |
| 806 | 02:30:25,200 --> 02:30:36,900 | journals. And most of that, in the beginning stages was me failing and failing and failing and failing and learning from them. I didn't look at the failure as |
| 807 | 02:30:36,900 --> 02:30:48,990 | a denial, it just meant that I had to spend more time doing it than I thought I was going to have to. And because I'm impulsive, I'm obsessive, and bipolar, I |
| 808 | 02:30:48,990 --> 02:31:01,860 | had a real hard time wrestling with that. And it wasn't until I started attacking the mental side of things that are not really trading. It's the |
| 809 | 02:31:02,010 --> 02:31:13,620 | shortcomings as a human being the things that we want, like I have a deep rooted desire to be affirmed by a family member that's passed away, I can't get that as |
| 810 | 02:31:13,620 --> 02:31:19,470 | much as new students to tell me, you know, they're thankful they're appreciative, you know, what I do and how much time and effort I put into this, |
| 811 | 02:31:20,070 --> 02:31:33,060 | that's great. And I'm thankful for that. But I'm not satisfied. I'm pursuing something that I'm not going to obtain. Which is frustrating for me. And that |
| 812 | 02:31:33,060 --> 02:31:44,130 | was a, a real struggling point for me as a developing student, because I didn't know how to deal with that. I allowed it to take me off the rails in my trading, |
| 813 | 02:31:44,430 --> 02:31:54,690 | I allowed it to blow my accounts, because I would just say, Okay, I'm gonna go in there, and risky at all, because I'm at a point where it needs to be a Win so |
| 814 | 02:31:54,720 --> 02:32:03,180 | big and astronomical, and unrealistic. Or I'm willing to lose the entire account, just to be out of it right now. And each time I did that, what I was |
| 815 | 02:32:03,180 --> 02:32:13,500 | asking for was traitor suicide. Like, like suicide by cop, you couldn't do it to yourself. So you go out there and run in front of a cop and have them draw down |
| 816 | 02:32:13,500 --> 02:32:20,970 | on you. That's what happens. You might listen to that and think to yourself, Well, it sounds morbid, or somebody's probably laughing about it thinking that |
| 817 | 02:32:20,970 --> 02:32:28,890 | it makes sense to me. But that's exactly what's occurring when people blow their accounts. It's like that, that numbness that a gambler gets when they're in a |
| 818 | 02:32:28,890 --> 02:32:38,400 | casino, where they're just thrown down bets. And they just want it to end. They don't, they don't have the discipline to get up and walk away when they know |
| 819 | 02:32:38,400 --> 02:32:47,400 | they should. So they want the game to remove them. Because they don't have the discipline to get up and walk away and stop. I didn't have the discipline, when |
| 820 | 02:32:47,400 --> 02:32:54,900 | I was new, to turn the charts off and walk away. I was afraid I was going to miss the move. Because I lost three four times already. The next one is really |
| 821 | 02:32:54,900 --> 02:33:05,520 | going to happen now. And if I believe it won't, it won't be able to get me back to break even and make more money. So because I didn't have to submit to that, |
| 822 | 02:33:05,700 --> 02:33:15,420 | or understand what I'm teaching you here, like, Look, what's the markets doing right now? Is it going up or down? It's consolidating? Isn't that what we |
| 823 | 02:33:15,420 --> 02:33:26,610 | outlined this morning? Sideways? When is the market consolidate ICT has taught you ICT has walked you through it? And it's right here? Do you want to trade in |
| 824 | 02:33:26,610 --> 02:33:35,250 | this environment? I don't. I don't. But there are some of you that may see this and say, oh, there's a set up here. There's a set up here. They're there. |
| 825 | 02:33:35,250 --> 02:33:43,770 | They're there. When I show the chart like this, this is how I have my charts like this. I'll come back to that psychological thing in a second. But if you're |
| 826 | 02:33:43,770 --> 02:33:49,200 | a scalper and you have your charts like this |
| 827 | 02:33:54,990 --> 02:34:03,840 | you know, suddenly now it looks more impactful what we're this is a move. Look at this move right here. I'm not, I'm not chasing moves like that. I can treat |
| 828 | 02:34:03,840 --> 02:34:16,770 | all these little minor fluctuations. But to me, it's not worth it. It's too much babysitting a stop. For such a small insignificant minor move. In an in a |
| 829 | 02:34:16,770 --> 02:34:27,510 | condition already know it's likely to do what we're seeing here. And kind of like presented to you before we got to where we are here now. But the the point |
| 830 | 02:34:27,510 --> 02:34:40,110 | at which when a trader gets to where they throw all logic right out the window, and they submit themselves to their emotions, or the whims of their |
| 831 | 02:34:40,110 --> 02:34:49,800 | psychological weaknesses. Here's what you're going to have happen if you trade with live money before you know how to trade on promises is going to happen to |
| 832 | 02:34:49,800 --> 02:34:58,470 | you. Nobody will be exempt from this. Or if you have a vendetta that you want to prove something in the public and you really don't know how to trade and you |
| 833 | 02:34:58,470 --> 02:35:07,170 | don't have any discipline and you don't have in risk management, you're going to do impulsive things, you're gonna have max loss days, you're going to throw away |
| 834 | 02:35:07,200 --> 02:35:17,100 | a good winning day, trying to be better than you need to be. Make a little bit of money here and make a little bit money there. You're not satisfied with that, |
| 835 | 02:35:17,100 --> 02:35:31,890 | because you want to prove something to the world. And then you lose it. That doesn't show superiority, that puts a bullet point rate on what everybody else |
| 836 | 02:35:31,890 --> 02:35:43,320 | watching you sees. You're not really all together. You're not as professional as you pretend to be. You're not a good trader, you're reckless, you gamble. And |
| 837 | 02:35:43,320 --> 02:35:56,100 | you have no self discipline. If you're in that condition, you blow your accounts, because you're trying to have a experience that's outside of trading |
| 838 | 02:35:56,100 --> 02:36:05,760 | and profiting, you want to have any Olympic event. You want to make something like it's a movie, like you've made yourself the main character in a movie |
| 839 | 02:36:05,760 --> 02:36:17,460 | that's not really going on. But you're seeing in front of your charts. And you have this mindset, that when it goes up here, the crowds going to cheer, because |
| 840 | 02:36:17,460 --> 02:36:28,050 | I'm the underdog in the villain and I'm up against is going to fall by my hand. It's silly, I know. But think about it. Some of you men, that's exactly what the |
| 841 | 02:36:28,050 --> 02:36:39,060 | hell you're doing. You're looking at these charts manifesting some kind of B movie plot. And that's the reason why I presented a lot of things I did on baby |
| 842 | 02:36:39,060 --> 02:36:49,560 | pips, because I knew my audience was men, predominantly. And that's true, ladies. So it wasn't being fixed. I had a few ladies in the collection of people |
| 843 | 02:36:49,560 --> 02:37:00,750 | that were following me over there that I knew about, but predominately, they were mostly men. And I did everything. Male, Sniper, this military that because |
| 844 | 02:37:00,750 --> 02:37:10,890 | that was my hook. It got you looking at something. Oh, and then because I'm showing you something, and it had the music and it had the sniper theme things |
| 845 | 02:37:10,890 --> 02:37:20,430 | and that would make the males do what pay attention. And anybody over on baby pips that was trying to draw a crowd for themselves, hated me because I was |
| 846 | 02:37:20,430 --> 02:37:30,960 | effective in drawing a crowd. And someone would literally go on the social media forum of baby pips and cry, like kids, I don't know why nobody's paying any |
| 847 | 02:37:30,960 --> 02:37:41,610 | attention to me. That's a character flaw. And when you trade with live money, without knowing what to do, when you're not conditioned, where you're bored at |
| 848 | 02:37:41,610 --> 02:37:51,930 | reading price action, you know what it's going to do, and it sounds it sounds ludicrous, to people that come in his industry in a by the bullshit that's in |
| 849 | 02:37:51,930 --> 02:37:58,770 | these books and says, nobody can turn the market, nobody knows where the markets gonna go, I fucking know where these markets are gonna go. I'm proving it every |
| 850 | 02:37:58,770 --> 02:38:07,440 | single day. I know when it's not likely to do something. So I'm not going to do anything. How much more of a testimony do you need when I'm doing every day? |
| 851 | 02:38:08,400 --> 02:38:17,430 | That's not arrogance, that's just reminding you that that's logic that's fake. They want you to believe that you can't do this. They want you to believe that |
| 852 | 02:38:17,430 --> 02:38:26,100 | it's random. They want you to have their faith in all these indicators and these bullshit approaches to reading things in price that have no bearing on why price |
| 853 | 02:38:26,100 --> 02:38:42,810 | goes up or down. But if you go in and you're trading with live money, and you have not been conditioned to anticipate where price is going to go why it should |
| 854 | 02:38:42,810 --> 02:38:52,110 | go there. And you have not seen months of being effectively accurate. Not once in a while getting the right. Okay, let me go in here and start doing a funded |
| 855 | 02:38:52,110 --> 02:39:06,510 | account challenge. No, you have to know exactly what you're looking for. Most times, what does that mean? 70% or more. If you can't be 70% accurate, you have |
| 856 | 02:39:06,510 --> 02:39:13,950 | no fucking business treatment, lied money. And that's just the truth. I don't care what anybody tells you. Other than that, that's exactly how it should be. |
| 857 | 02:39:14,310 --> 02:39:30,450 | Because if you can't see what the mark is going to do 70% of the time. You don't know what you're doing. And 70% seems extremely high. But it's really not. If |
| 858 | 02:39:30,450 --> 02:39:39,570 | you factor it out all the times where you fell victim to trading environments like this. If you took all those trades out, go back and look at all the |
| 859 | 02:39:39,570 --> 02:39:47,220 | bullshit you've been doing in your trading. How you lost your money, how you blow your accounts, it's environments like this. So if you listen to good old |
| 860 | 02:39:47,220 --> 02:39:56,430 | ICT and understand that this is how we stay out, we don't trade in these environments. How better would you have done if you take those big losing or |
| 861 | 02:39:56,490 --> 02:40:07,710 | blow out days? Or account blowers? Take them out of your trading, you'd still be in the game. Again, nobody's writing books about it, because they don't want |
| 862 | 02:40:07,710 --> 02:40:15,960 | people feeling bad about themselves. They want them to buy books and get excited and hopped up on goofballs, that they're gonna get rich. I don't present things |
| 863 | 02:40:15,960 --> 02:40:26,700 | like that. I don't do it like that. And that's why people don't like listening to these rants. They don't like listening to this stuff. Oh, he goes on and on |
| 864 | 02:40:26,700 --> 02:40:35,250 | and on, give me us teach ITT the better way, give me two sentences. And then that's the better way and you're still going to lose your fucking money. And you |
| 865 | 02:40:35,280 --> 02:40:47,340 | wish you had these points in your understanding? To you're in a hurry, you're making perfect excuses for getting out there before you're ready. You teach ICT |
| 866 | 02:40:47,340 --> 02:41:00,270 | better? It's so right to the point. Yeah, get to the point of losing your money. And a lot of people out there trying to teach what I do. But they're not |
| 867 | 02:41:00,300 --> 02:41:14,100 | equipped. You just know part of it. And if folks that have tried that with other people, Smart Money concepts through this guy or that gal, this organization, |
| 868 | 02:41:14,130 --> 02:41:24,750 | this multi level, multi level company in a wreck themselves, and they find me and like, Oh, something different now making money and I can find it and it's |
| 869 | 02:41:24,780 --> 02:41:34,140 | making perfect sense now well, what's different? What's different. The person that created it all is talking about teaching you what matters most and what to |
| 870 | 02:41:34,140 --> 02:41:48,660 | do, what not to do. But when you get there on a live account, you know you're doing this weird experience comes over you where you get to the point where you |
| 871 | 02:41:48,660 --> 02:42:01,050 | know, subconsciously, that you're not equipped to be doing what you're doing. But you don't have the discipline to stop. So you start pressing the button. And |
| 872 | 02:42:01,050 --> 02:42:11,580 | you just want some kind of miracle to happen. Some reason to inspire you to keep going back to the studying part of it. Because you don't want to. You don't want |
| 873 | 02:42:11,580 --> 02:42:19,050 | to do that. It's hard work. It's boring. All these people are getting withdrawals from their funded accounts. All these people are winning |
| 874 | 02:42:19,050 --> 02:42:32,790 | competitions, all these people are showing their profits or buying this or showing that. I want to do that. That's trading. Now, that's people living on |
| 875 | 02:42:32,790 --> 02:42:44,370 | social media. Are you trying to be a trader on social media? Are you trying to make money? Are you looking for your equity curve on social media to go up more |
| 876 | 02:42:45,300 --> 02:42:59,010 | than the equity in your account? And I'm sorry, that that that that hits it right on the head right there. So many people want to be viewed as a baller on |
| 877 | 02:42:59,010 --> 02:43:07,920 | social media. Then do it just for real in their own accounts, and being satisfied with that. That's how you know if someone's really making money. |
| 878 | 02:43:09,360 --> 02:43:18,090 | Because if they gotta constantly reward themselves in front of everyone else, and show the world what they're doing, that's all they have. How frequently do |
| 879 | 02:43:18,090 --> 02:43:30,180 | you own it? Not much. And that's what keeps them motivated, because they don't like what they're doing because they're not successful results or are not |
| 880 | 02:43:30,180 --> 02:43:42,150 | consistent. And they'll go into a live account and those individuals that rush in here to try to trade with real money before they know how to reprice. They'll |
| 881 | 02:43:42,150 --> 02:43:53,820 | have that gamblers numbness come over them. And it's a real thing, folks, you get in this this mindset where hey, I don't want to start trading because I |
| 882 | 02:43:53,820 --> 02:43:54,570 | don't have the discipline. |
| 883 | 02:43:55,800 --> 02:44:06,360 | And I'm going to keep pushing the button until it takes me out. In fact, I've been several times when I was younger, I literally screamed at my chart screen |
| 884 | 02:44:06,360 --> 02:44:16,620 | that if you take all of it, I'm not stopping. I don't care if you're taking all of it before I start. Now, does that sound like someone that's balanced and |
| 885 | 02:44:16,620 --> 02:44:25,650 | should be risking their money? Absolutely not. But I Guaran damn tee you. Some of you probably won't have the courage to say so but you've done it. You |
| 886 | 02:44:25,650 --> 02:44:35,340 | literally cussed at the market. You personified it like it picked your pocket. And you dared to take the rest of it. And it did. And then you were mad about |
| 887 | 02:44:35,340 --> 02:44:44,250 | it. I can't believe I lost my account. They did it to me. No, you knew that was going to happen. And you knew you should have stopped trading you should have |
| 888 | 02:44:44,250 --> 02:44:53,670 | turned the charts off and walked away. But gamblers numbness came after you and that's just the way it is. That's what happens. Because in internally what's |
| 889 | 02:44:53,700 --> 02:45:01,860 | going on is you're wrestling with Okay, I have a losing trade here. I don't feel motivated. So I don't want to go back To the charts. I don't want to study I |
| 890 | 02:45:01,860 --> 02:45:12,090 | don't want to back test. I don't want to look at what I've done wrong because it's too painful. Well, guess what, Dorothy? That's what it's like in us. Okay, |
| 891 | 02:45:12,150 --> 02:45:18,660 | you're gonna have to have those problems that you have to deal with. You have to go back and look at your journal. What did you do wrong? Okay, that wasn't that |
| 892 | 02:45:18,660 --> 02:45:32,910 | fun. But what do you do, right? You focus there. You focus there, because you have to be your own cheerleader. ICT is not going to be there. I'm not going to |
| 893 | 02:45:32,910 --> 02:45:39,270 | be I don't know, when you are doing those losing trades. I don't know when you're in there over leveraging and trying to make something happen because you |
| 894 | 02:45:39,270 --> 02:45:51,060 | want to get on a leaderboard. You want to make a big withdrawal, five figure withdrawals. I want to be able to prove that this stuff works. I'm not expecting |
| 895 | 02:45:51,060 --> 02:46:01,500 | you to prove it. I don't ask you to do that. But all of you are having these vigilante Type V MOVIE plots that you want to come out here and prove that you |
| 896 | 02:46:01,500 --> 02:46:15,510 | are a warrior. You're the main character in a Steven Seagal movie. I know I used to I used to do stupid. When I was 20 years old music playing in the background. |
| 897 | 02:46:15,930 --> 02:46:25,950 | Man. I got nobody to share it with. Because we don't have social media back in the 90s. Like, like you all have. It was just me fantasizing. Here it is I'm |
| 898 | 02:46:25,950 --> 02:46:38,670 | gonna win. There it is the music gonna be plan and boom, hit the credits. There it is. Audience is gonna love it. Who's the audience? Me? Me, I can even talk to |
| 899 | 02:46:38,670 --> 02:46:51,060 | my uncle that I don't tell the story. So who did I have? No one. Not one person. So I understand if I would have had that. Like you all have social media today. |
| 900 | 02:46:51,840 --> 02:46:57,420 | You'd be out there sharing everything, I'd be out there sharing it to if it was available to me back then I would have done it. And it probably would have been |
| 901 | 02:46:57,420 --> 02:47:08,640 | more detrimental to my development than not having had it. That's why I'm telling you don't do it. I know my own character falls. I know the imbalances I |
| 902 | 02:47:08,640 --> 02:47:15,120 | have chemically that I can't do anything about it. Because I won't take a medicine for it. I don't think it's medicine. It's a drug and I don't take |
| 903 | 02:47:15,120 --> 02:47:26,130 | drugs. So the drug I like is winning. I like getting high on winning. And you can see I love it. Because I share it every day on my Twitter. And when I'm |
| 904 | 02:47:26,130 --> 02:47:38,130 | doing the live streams. I love it. I love it. It's contagious, too. That's why my students talk like me. That's why my students trade like me, because they |
| 905 | 02:47:38,130 --> 02:47:47,460 | love fucking winning. It feels good. And when you do it, and you see other people do it, you want to be a part of that. Call that a cult, I don't care. I |
| 906 | 02:47:47,460 --> 02:47:56,430 | call it a circus. It's fun. It's carnival. Everybody gets to do what they want to do. No one's forced them into it. And they all have fun while they're |
| 907 | 02:47:56,430 --> 02:48:06,780 | learning. And you have to motivate yourself that way. You have to. You can't let gamblers numbness overtop of you. When that happens when you feel like you just |
| 908 | 02:48:06,780 --> 02:48:17,430 | want them to end it for you. You have to dig deep, and say that's it. I'm down big for the day. But I'm not out. I'm turning off the computers. I'm turning off |
| 909 | 02:48:17,430 --> 02:48:25,650 | the charts. Even you got to go tweet to me and say ICT I got it. I'm feeling it. I'm in drawdown, I'm done. I turn the charts off, I'm going to do something |
| 910 | 02:48:25,650 --> 02:48:36,150 | else. I'll see you in a couple days. What did you just do? You made yourself accountable. You've done the best thing you could do, which is identify where |
| 911 | 02:48:36,150 --> 02:48:44,460 | you're at. This is how you personally use it how you prevent yourself from blowing the account. I'm telling you, every single person that was blown their |
| 912 | 02:48:44,460 --> 02:48:51,720 | accounts, and there ain't one of you out there that's traded with real money to haven't built an account you have if you say you haven't you're fucking liar. |
| 913 | 02:48:51,840 --> 02:49:03,840 | Okay? I've dusted shit, probably 10 or 11 accounts. I've done that. And guess what that means? I have a lot of learning to do. I had a lot of learning, I had |
| 914 | 02:49:03,840 --> 02:49:16,800 | to come up through harder times than you. And you have all these advantages. And you have somebody talking to you that has been there and done it. And it just, |
| 915 | 02:49:16,830 --> 02:49:28,170 | it's irritating when I see these young people, bitch about how, oh, he just talks and talks and talks. You're a moron. Seriously, you're a moron. If you |
| 916 | 02:49:28,170 --> 02:49:37,770 | don't want to hear how to prevent yourself from failing. You're a person that's accurate, you know everything. And you want to cherry pick what information you |
| 917 | 02:49:37,770 --> 02:49:45,540 | want to get when you have no idea the benefit of having had it because you don't trade with real money. And when you start trading with real money, all these |
| 918 | 02:49:45,540 --> 02:49:56,130 | things are going to be real important to you then. And I hate when I see students that had that mindset came to me didn't want to listen to the dry |
| 919 | 02:49:56,130 --> 02:50:10,680 | boring shit. Where the real learning is they lose, they hurt themselves. And then they go back and listen to the stuff and they're like, What I fell victim |
| 920 | 02:50:10,680 --> 02:50:20,250 | to Utah in this lecture. If I just would have did that this wouldn't have happened to me exactly why I said it. I don't like hearing that you didn't |
| 921 | 02:50:20,250 --> 02:50:33,840 | listen to good advice. I don't like hearing that. Because I feel like I, I missed the mark, when I know I didn't miss the mark. All of my lectures are all |
| 922 | 02:50:33,840 --> 02:50:46,140 | predominantly psychological in risk management. Unless I'm pointing to the chart, I'm non stop telling you exactly how you are going to survive. Or do |
| 923 | 02:50:46,140 --> 02:50:58,860 | yourself and I'm not afraid to say these things and not be popular. I don't care. I don't care. I've been out here teaching what a demo and paper trading |
| 924 | 02:50:59,100 --> 02:51:08,280 | the entire time. And yet people still find themselves profitable, still find themselves able to read the price action. I've never cared about anybody's |
| 925 | 02:51:08,280 --> 02:51:21,420 | opinion on how I do it. How I do it works. You have to align yourself with what I'm doing, how I'm teaching it. If you can't, you know, good luck to you, I |
| 926 | 02:51:22,770 --> 02:51:28,770 | promise you, you'll do something else. And you'll come back here and then you'll discover if you would just want to listen, you could have avoided all that pain, |
| 927 | 02:51:28,770 --> 02:51:42,840 | you could have avoided all that time wasted. Let me ask you something. Let's say for instance, that Michael Huddleston guy talking to you right now, let's just |
| 928 | 02:51:42,840 --> 02:51:57,060 | say that I have a PhD, okay, piled higher and deeper. And say, just for instance, that I was a big wig at some bullshit investment bank, okay. And say |
| 929 | 02:51:57,060 --> 02:52:09,090 | that I had a speaking circuit where I went around, I talked to Fortune 500 companies and brokerage firms and all that bullshit. Okay, say I did all that |
| 930 | 02:52:09,090 --> 02:52:20,310 | stuff. And and I talked to you about these types of things, you know, what you would do? You'd be all ears, you'd be writing down all that bullshit. Why |
| 931 | 02:52:21,030 --> 02:52:35,040 | perception. And that's why you chase all these social media people image you fall victim to that. I'm giving you the real work. I'm telling you what the |
| 932 | 02:52:35,040 --> 02:52:43,620 | market is going to do, why it's going to do it, how to avoid hurting yourself with it. That's the real thing. Goldman Sachs ain't conditioning their students |
| 933 | 02:52:43,620 --> 02:52:45,360 | and in traders to do that shit |
| 934 | 02:52:53,190 --> 02:53:01,320 | you're learning from the trenches, over real price action live, that there really is a technical science |
| 935 | 02:53:06,690 --> 02:53:13,590 | second, you're gonna take a look at the other markets here. I talked in that my mother's good sleep. |
| 936 | 02:53:18,870 --> 02:53:29,220 | Alright, so Dollar Index has swept it's 104 92 that was sell side on a one minute chart and the poor Dixie chart real quick. |
| 937 | 02:53:37,020 --> 02:53:45,570 | So we've taken cell side here, small little imbalance here with by side. So we'll see if it wants to draw up here. That'll be a little bit more weakness on |
| 938 | 02:53:45,720 --> 02:53:56,460 | us. If it does that. If it fails to do anything like that, or goes up there and then rejects that right there. That cell side right there, it looks really |
| 939 | 02:53:58,590 --> 02:54:07,590 | doable. But I would want to see it go above here, this way, right you got which I'm not going to draw, draw that in time. If it goes above that come back down |
| 940 | 02:54:07,590 --> 02:54:19,410 | axis support. We will be looking for higher run on dollar and weakness on indices. So let's go back over to ES we'll stay in one minute chart |
| 941 | 02:54:29,100 --> 02:54:36,210 | look at this one here for a second. Hold on. Okay, so that's what we're looking at these lines here. That was what that was. That's where those blue lines come |
| 942 | 02:54:36,210 --> 02:54:47,010 | from. I don't even put it in there. But it's based on a five minute chart we've been jawboning about. So that wick here. I'm going to take that off that |
| 943 | 02:54:47,010 --> 02:54:57,360 | consequent encouragement. What a block I'm taking that off mean threshold. I'm going to keep that here because we're in close proximity to it. But I'm going to |
| 944 | 02:54:57,360 --> 02:55:09,180 | add consequent curtailment to this wick, right Hear I don't know how many people are listening, like, I don't want to look at how many people are listening to me |
| 945 | 02:55:09,180 --> 02:55:18,330 | when I'm live. I don't do that when I'm doing like Twitter spaces either. Because I like to pretend I'm doing just the recordings, where I can just talk |
| 946 | 02:55:18,360 --> 02:55:36,510 | freely and not feel intimidate because I am very intimidated by having a large audience. I might sound like I'm real extroverted, but I'm an introvert. But I'm |
| 947 | 02:55:36,510 --> 02:55:46,170 | certain that I lost a lot of viewers this morning, with the conversation I had, and that's good. That means I'm filtering out the ones that shouldn't be here. |
| 948 | 02:55:54,660 --> 02:56:02,760 | Alright, so I'm going to take this line here, make it blue, and then we dropped down to one minute chart, you'll see it, know what it is. |
| 949 | 02:56:09,690 --> 02:56:21,750 | And then we'll add one little line here for Southside on this low. I'll make that dotted. So that way, we can differentiate what it is. We have a city here |
| 950 | 02:56:21,750 --> 02:56:33,540 | south and unbalanced by some inefficiency. And we'll see if it wants to work in here. And here. We've tried multiple times to get beyond that fair value gap. |
| 951 | 02:56:34,770 --> 02:56:45,750 | And we've not been successful in doing that yet. Dollar index is pouring back down into the dollar index has a volume imbalance. I don't want to change the |
| 952 | 02:56:45,750 --> 02:57:02,100 | charts, but you can do it on your own is a volume imbalance on the one minute chart using the 1217 1218 One minute chart on the DX y. So have that on your |
| 953 | 02:57:02,100 --> 02:57:06,870 | chart annotated. It might drop down into that I'd want to see it support there. |
| 954 | 02:57:12,480 --> 02:57:23,370 | So sellside here, and then we have consequent courage on this wick entry down into there with this city. So we'll drop down to a one minute chart we'll just |
| 955 | 02:57:23,520 --> 02:57:26,040 | finish up our session with this timeframe. |
| 956 | 02:58:17,340 --> 02:58:23,550 | Almost at that 3875 sellside. It's also we have one over here as well. |
| 957 | 02:58:30,300 --> 02:58:38,340 | Digging below that would get us into levels we mentioned on the five minute chart |
| 958 | 02:58:48,270 --> 02:59:00,990 | I'm looking at Twitter for your feedback when I asked this. The discussion on how to interpret and forecast consolidation days, or consolidation sessions. I |
| 959 | 02:59:00,990 --> 02:59:09,180 | understand that I probably haven't scratched over itch today because I've talked about a lot of things that probably aren't comfortable. Or maybe you're just |
| 960 | 02:59:09,180 --> 02:59:18,780 | boring, but at least Did you garner at least that insight on how we can anticipate and forecast consolidation days was that clear in the least in that |
| 961 | 02:59:18,780 --> 02:59:21,690 | regard? On today's live session |
| 962 | 02:59:28,800 --> 02:59:30,690 | I'm looking at Twitter for your response by the way. |
| 963 | 02:59:48,870 --> 03:00:01,350 | Okay, so think about that right there that's already five handles and it hasn't even taken the sell side below that love yet. So We had a five minute city that |
| 964 | 03:00:01,350 --> 03:00:14,670 | it traded up into. Go back to the five year old this year. So we prayed up into that rejecting going into the sell side, so what did it do? It went up into an |
| 965 | 03:00:14,670 --> 03:00:27,330 | inefficiency, reaching down into a low, what's below that low? Sell side liquidity? So why would it want to go up here? When the algorithm goes up like |
| 966 | 03:00:27,330 --> 03:00:38,190 | this, it's going into this inefficiency. Why would that be useful? Smart Money can go short in here. So if they're short, inside of an inefficiency, it's not |
| 967 | 03:00:38,190 --> 03:00:46,290 | the same as like, like this hot here. That's by stops being taken when the arena into that very vague up again, when I went up into inefficiency, what it's doing |
| 968 | 03:00:46,290 --> 03:00:59,520 | is, it's allowing traders to have the view or the perception of how I'm teaching you to use that as a means of being short. Because it read prices back to an |
| 969 | 03:00:59,520 --> 03:01:11,700 | inefficiency in price. So going short, there, where's an ideal exit point, using the market efficiency paradigm. In other words, who's getting hurt? Who can we |
| 970 | 03:01:11,700 --> 03:01:21,780 | use to facilitate a profitable exit or entry, that's the market efficiency paradigm, you the how smart money cannibalizes everyone else out there? Well, |
| 971 | 03:01:21,810 --> 03:01:34,890 | getting short here, and targeting that low, that low is a target or draw on liquidity. And being in being short here in that city, that would be a catalyst |
| 972 | 03:01:34,890 --> 03:01:40,140 | for getting short. So inefficiency to liquidity. |
| 973 | 03:01:46,380 --> 03:01:53,790 | Dow has really fallen off. So I'm watching to see if we just poke below that low, and then dig up higher into this inefficiency there. |
| 974 | 03:02:20,040 --> 03:02:30,570 | So when this was a wick, here, and we transferred from the five minute down into the one minute chart, and was looking up in here, between that, and just getting |
| 975 | 03:02:30,570 --> 03:02:42,420 | to that low, that's five handles. If you start looking for those types of moves in the beginning, first of all, you're gonna see there's a lot of opportunity |
| 976 | 03:02:42,420 --> 03:02:53,250 | just to find five handles using the IES, but trusting that you can find them consistently. That takes time. It won't take you much time to get to that point. |
| 977 | 03:02:53,580 --> 03:03:04,920 | But you have to keep showing up every day and looking at old moves and studying how delivered. And when this gets to a point what how do you know? This is one |
| 978 | 03:03:04,920 --> 03:03:16,200 | of the questions I'm going to start asking and I wish I would have asked the two students that have already done interviews with you, how did they know? At what |
| 979 | 03:03:16,200 --> 03:03:28,950 | point did they get to where they felt they were ready to trade with real money? And unfortunately, it didn't dawn on me until you would think that's really a |
| 980 | 03:03:28,950 --> 03:03:40,290 | good question. I didn't ask it, I guess in a way that was kind of asking. But I wanted to be more specific. But I want to be very clear about how when I send |
| 981 | 03:03:40,290 --> 03:03:47,010 | the outline to them, like when they email me I have a lot of people have already emailed me. And I'm answering them in the order I got them. So no one's going to |
| 982 | 03:03:47,010 --> 03:03:56,790 | jump ahead. Some of you say, Hey, I got an email sent to you. Did you see it? I just haven't gotten to yours yet. Okay, so the one of the questions I'm going to |
| 983 | 03:03:56,790 --> 03:04:09,420 | add is like, what did they feel about themselves? What was the convincing thing for them that led them to the decision of trading with real money or going with |
| 984 | 03:04:09,420 --> 03:04:16,680 | a funded account? Because I don't ever teach that there's no lecture where it says, If you do this, this is how you know, you just know. And you make that |
| 985 | 03:04:16,680 --> 03:04:25,650 | decision on your own. So I'd like to know that from everyone that I interviewed going forward, like, what was that? That deciding factor? Because I'm sure most |
| 986 | 03:04:25,650 --> 03:04:33,720 | of you would probably love to know what that is to and not knowing what it would be for you yet. I mean, obviously, you know, if I know what I'm looking for it |
| 987 | 03:04:33,720 --> 03:04:42,990 | but what does that really mean for everybody else? Like what does it feel like? You know, what is it? How do you articulate that? I'm interested in knowing what |
| 988 | 03:04:42,990 --> 03:04:48,510 | that is for everyone else. Maybe maybe you don't have the interest in now, but I think it's important |
| 989 | 03:05:00,359 --> 03:05:01,709 | Watch this little area in here. |
| 990 | 03:05:30,930 --> 03:05:41,340 | Now if it would have, if it would have ran through this low, like when was right on here. So far, it looks like it's the same low comes at 75. Even on this |
| 991 | 03:05:41,340 --> 03:05:53,160 | candle here, it's 75 even so we match that low. If we were able to go through that, and looking at what the dollar is doing right now, I'd feel confident to |
| 992 | 03:05:53,160 --> 03:06:00,600 | say we're gonna go up above the fair pay gap. But we didn't do that. So I'm going to hold that in my pocket. But that's what I would have expected that if |
| 993 | 03:06:00,600 --> 03:06:10,050 | we went through here, and then had what we sell show on the ballot now. I will be telling you, we're gonna go up here next. But I don't I don't have that here, |
| 994 | 03:06:10,050 --> 03:06:19,860 | because we didn't take that liquidity out. So that's something else you want to add to your journal. Some of the questions I get, they'll ask like, you know, |
| 995 | 03:06:19,860 --> 03:06:31,920 | how do you avoid taking something like what keeps you from taking a trade? Or what would cause you to not really see or trust, I guess the better word would |
| 996 | 03:06:31,920 --> 03:06:45,750 | be used that way. Like, if I What would prevent me from expecting this buyside to be taken with dollar going down? What would prevent that the fact that we |
| 997 | 03:06:45,750 --> 03:06:57,420 | didn't go below to take the cell stops here, I would have preferred that went one tick below that and then did what we see here. Then I would look at the the |
| 998 | 03:06:57,420 --> 03:07:06,210 | see, sorry, the city here and treat it as support the sentence of the new here, but I don't have that here. So I will be waiting for either that to occur or sit |
| 999 | 03:07:06,210 --> 03:07:15,630 | on my hands and do nothing and expect this the consolidation to continue. And again, that's something that books aren't being written about. It's not a |
| 1000 | 03:07:15,630 --> 03:07:22,980 | popular subject matter. No one's making YouTube videos about those types of things. But that's the stuff I want to incorporate. Because that's over 30 |
| 1001 | 03:07:22,980 --> 03:07:32,160 | years, they're sort of things that I had to wrestle with one of the questions did you ask there all questions that I had of myself, my own development, and |
| 1002 | 03:07:32,160 --> 03:07:42,660 | you don't realize the importance of certain questions that are being asked because you haven't gotten that far yet in your journey when you get there. And |
| 1003 | 03:07:42,660 --> 03:07:51,810 | if you've never heard it, or it's not available to you believe me, you're going to ache, wishing someone would share how to deal with it. And I'm just that kind |
| 1004 | 03:07:51,810 --> 03:07:58,170 | of guy. And you get it up front even though you're kicking and screaming about it most of the times |
| 1005 | 03:08:03,750 --> 03:08:20,760 | but it's going on 1240 So I'll hang with you for another 11 minutes or so. And I'm going to kill it because I'm fasted and I need to eat something so I think |
| 1006 | 03:08:20,760 --> 03:08:28,590 | we've had a pretty good overall live session I know it's not the kind of live session you want but trust me we will have the kind of live sessions that you're |
| 1007 | 03:08:28,620 --> 03:08:47,040 | wanting to see where it's energetic and price moves and it's like gangbusters anyone here let's see something let's go to a 15 minute chart see this |
| 1008 | 03:09:03,690 --> 03:09:16,050 | see, we'll be done there. Price delivered the downside. Open on this candle traded up, bear shorter block traded down. Next candle here all the way up this |
| 1009 | 03:09:16,050 --> 03:09:27,450 | far left a fair Vega. So the market has moved from this low here up into that fear Vega. So now we're going to watch it's in lunch hour. So because we're |
| 1010 | 03:09:27,450 --> 03:09:41,160 | consolidating, we tried multiple times to work up here to take that by side out. We haven't been successful in doing so. And usually lunch, we go into seeking |
| 1011 | 03:09:41,160 --> 03:09:54,480 | liquidity that has not been tapped into. We've only done one raid on sell side down here. We've had one by side taken here. And we had buyside taken here and |
| 1012 | 03:09:54,480 --> 03:10:04,950 | we're in consolidation. We've left this low. Didn't take that out And we've repriced, up into this inefficiency here. left a little tiny little Mohawk here. |
| 1013 | 03:10:05,880 --> 03:10:17,070 | Now I'm thinking, let's watch and see if it wants to deliver down into this low and maybe into the consequent corrosion this wick, and maybe maybe reach for the |
| 1014 | 03:10:17,070 --> 03:10:26,580 | sell side. And that will be a lunch macro. And the reason why it is outlined why I would favor that versus going up to the buy side is because we've already |
| 1015 | 03:10:26,580 --> 03:10:34,740 | worked up here multiple times. And we only had one sell side, taken here, we didn't even do it on this low. |
| 1016 | 03:10:41,070 --> 03:10:52,140 | So they punish the shorts by coming back on them multiple times on by side. So the only people that haven't been messed around with today is anyone that's long |
| 1017 | 03:10:52,140 --> 03:11:00,840 | that went down here and bought the sell side or bought any year in here, their stop losses in here. Or maybe they traded up just below here and he feels like |
| 1018 | 03:11:00,840 --> 03:11:12,390 | they've dodged the bullet or something to that effect. And we're going to watch it and see if I can get it in the next couple minutes. Drop into a five minute. |
| 1019 | 03:11:14,700 --> 03:11:22,140 | Like you see how that fair a gap on the 15 minute chart doesn't look so clear does it but you always work from your higher timeframe down and you transpose |
| 1020 | 03:11:22,140 --> 03:11:31,080 | those higher timeframe, inefficiencies into your lower timeframes. And it clears up a lot of the things that doesn't look so clear to you in the charts that are |
| 1021 | 03:11:31,080 --> 03:11:39,510 | lower timeframe, you they say that they're noisy, they're not noisy, it's the same price prices price is still doing everything it was doing in the 50 minute |
| 1022 | 03:11:39,510 --> 03:11:52,260 | timeframe. You're just recording it's fluctuations on a smaller timeframe interval. So far dollars reaching will the hiring here I'd like to see get above |
| 1023 | 03:11:52,260 --> 03:11:57,960 | 105 that does that we should have no problem getting into that 3870 force |
| 1024 | 03:12:08,100 --> 03:12:09,570 | yo bones cracking |
| 1025 | 03:12:21,510 --> 03:12:33,780 | so I'm gonna do a poll. If you were looking at this day here, and you've probably been watching price action throughout the morning, maybe you've been |
| 1026 | 03:12:33,780 --> 03:12:42,360 | watching here and trying to feed me or going along with the ideas that outlined either way, it doesn't make a difference. Knowing with the benefit of hindsight |
| 1027 | 03:12:42,360 --> 03:12:54,300 | right now, would you say that this is a day that you would have felt good about participating in? or would this be one of those days you had regretted being a |
| 1028 | 03:12:54,300 --> 03:13:03,870 | part of even if you were right about certain things? Would this be a day that you would have been better suited to be doing something outside of trading? And |
| 1029 | 03:13:03,870 --> 03:13:11,220 | I'm asking that on Twitter, so you can reply to me there to send a tweet to me directly. I'm scrolling through looking now |
| 1030 | 03:13:25,800 --> 03:13:35,790 | Jan ZESA I don't know what you mean by that you have a real long question. And I'm not trying to do this as a mean thing here because I don't like to usually |
| 1031 | 03:13:35,790 --> 03:13:43,860 | look at Twitter while I'm doing this, but I'm going to wind it down so I don't mind doing it right now but you posted you would really appreciate teaching on |
| 1032 | 03:13:43,860 --> 03:13:55,110 | where the next weekly see is likely going to expand. I don't know what ces means. So I don't I don't know what that means. I'm trying to think I don't have |
| 1033 | 03:13:55,110 --> 03:13:58,290 | anything that I could abbreviate a CSR but I can think off the top my head |
| 1034 | 03:14:04,950 --> 03:14:07,290 | you got a rant all morning FBg. |
| 1035 | 03:14:19,620 --> 03:14:30,300 | Dollar Index when your hourly chart and we'll take a look at the eight o'clock from Friday. Eight o'clock in the morning. Your time should be always New York |
| 1036 | 03:14:30,300 --> 03:14:40,920 | local time by the way. Eight o'clock in the morning that candle is a city to fair that you got we traded up into that. I'm just hanging around in that right |
| 1037 | 03:14:40,920 --> 03:14:41,280 | now. |
| 1038 | 03:14:46,440 --> 03:14:58,860 | And there's a lot of biocides didn't want to 530 $4 So I'm watching to see how we behave here. On dollar we just dropped down into a more minute bullish order |
| 1039 | 03:14:58,860 --> 03:15:10,350 | block and fair game. Got it, we'll see if it wants a rip higher, send us down into consequent encouragement of Yes. |
| 1040 | 03:15:33,030 --> 03:15:40,380 | Very good. I'm seeking some of your responses. This is a day that you'd rather be doing something else like golf, I can't stay in golf and understand why |
| 1041 | 03:15:40,380 --> 03:15:47,160 | people don't really want to play that. But if the weather's nice, I can see how that'd be cool to hang out with your buddies. I just can't imagine beating a |
| 1042 | 03:15:47,160 --> 03:15:56,700 | small dented ball around on beautiful grass isn't making sense to me yet. But it would be better to do something like that, than to be trading in a day like |
| 1043 | 03:15:56,700 --> 03:16:06,720 | this. And, yes, it's wonderful to see students at least appreciate that. If you know when you're going to anticipate a day like this. And I think we've |
| 1044 | 03:16:06,720 --> 03:16:16,860 | effectively done that today outlining and why it should be like this. It's better for you to feel comfortable, not me, like if you if you go out and you do |
| 1045 | 03:16:16,860 --> 03:16:25,290 | something else, you're with your spouse, you're with your significant other, you're doing something your kids, I can be honest and tell you. There's many |
| 1046 | 03:16:25,290 --> 03:16:36,990 | times I didn't understand this. But I felt everyday was going to be a big mover. And when I said to my children, or if I said to my wife, look, I'm taking the |
| 1047 | 03:16:36,990 --> 03:16:46,110 | day off tomorrow, I'm not going to do anything with the charts, I'm not going to trade, I'm leaving my phone home, nothing. It's all you. And I was miserable. |
| 1048 | 03:16:47,040 --> 03:16:56,880 | Doing whatever I was doing with them. And it sounds horrible. But it's because I didn't know what I'm teaching you today. So this way, when you are doing things |
| 1049 | 03:16:56,910 --> 03:17:07,650 | apart from the marketplace, with your family, or if you're doing something else, you know that another hobby or something, you won't feel guilty, or miss it. Or |
| 1050 | 03:17:07,650 --> 03:17:18,660 | feel like you're going to come back and regret having taken a personal time away from the marketplace. It'll give you freedom to just trust it, who cares what |
| 1051 | 03:17:18,660 --> 03:17:27,180 | it's going to do, it's probably going to be a really lackadaisical day, lackluster, doing nothing. And it allows you to have the confidence to say I |
| 1052 | 03:17:27,180 --> 03:17:34,140 | can, I can step away from this, it's not going to hurt me, it's not going to be a big move, I don't miss anything. And that's one of the benefits of knowing |
| 1053 | 03:17:34,140 --> 03:17:43,380 | this because number one, it helps you conquer FOMO fear of missing out. And you can't appreciate that for those individuals that try to avoid these lessons or |
| 1054 | 03:17:43,380 --> 03:17:52,590 | these boring drawn out lectures. You have to be sitting here, watching the price action, and then listening to what I've said about it and thinking to yourself, |
| 1055 | 03:17:52,620 --> 03:18:01,170 | oh, this makes perfect sense. But only the people that sit here and listen to it and see it happen like this. can appreciate it. And so then we go forward. And |
| 1056 | 03:18:01,170 --> 03:18:08,910 | when I say we're likely to consolidate, you know, right away, oh, that's one of those days where I can go do something else. And you won't feel guilty about it. |
| 1057 | 03:18:08,910 --> 03:18:17,820 | You won't fear missing anything. And your attention elsewhere won't be divided. You won't be wondering, man, I wonder what whatever I'm usually trading is doing |
| 1058 | 03:18:17,820 --> 03:18:27,540 | right now. That was a haunting thing for me. Like, especially because I'm obsessively compulsive. It would make me short fused. And sometimes I would snap |
| 1059 | 03:18:27,540 --> 03:18:36,120 | at my wife or my kids, when they were just asking me to do something. And I'm thinking about man, I bet you're doing this or that right now. And they would |
| 1060 | 03:18:36,150 --> 03:18:44,070 | break my attention from worrying about something I can't even see because I don't have anything in front of me to look at. That's how obsessive I am. And |
| 1061 | 03:18:44,070 --> 03:18:54,180 | some of you might have that. You have it or you don't. But the way you beat that and we cope with it is knowing when these market environments are like this, so |
| 1062 | 03:18:54,180 --> 03:19:01,530 | that way you don't feel any of that impulsiveness about feeling. I have to be a part of it. I gotta be plugged in. I can check my phone. I gotta keep my phone |
| 1063 | 03:19:01,530 --> 03:19:12,060 | with me. No, plug into your family, because that's one of the biggest regrets I have. I lost a lot of time with them doing stupid shit. You worrying about these |
| 1064 | 03:19:12,060 --> 03:19:22,830 | candlesticks, when many times it was just like this. And they were days where I thought because in my ignorance, I thought I had something else forming. I |
| 1065 | 03:19:23,130 --> 03:19:33,270 | wasted time sporting events that my kids were doing, that I should have been there cheering them on as their dad, I'm looking at days like this, thinking, |
| 1066 | 03:19:33,300 --> 03:19:40,200 | Oh, it's gonna be a big move. I'm going to be so profitable and I'm going to show them and they're going to be thinking, well, at least you make a lot of |
| 1067 | 03:19:40,200 --> 03:19:46,950 | money. You didn't come to my Game and Watch me dad. But here, look at this. You made money today. Good for you. That was how I was rationalizing. And that's not |
| 1068 | 03:19:46,950 --> 03:19:59,490 | even the right way of looking at it. So you can be extremely misguided even if you are successful in this. So you have to be sure that the families first I |
| 1069 | 03:19:59,490 --> 03:20:08,070 | mean that's why you should be done in any way, right? You want your family to benefit from it? But are they really benefiting from it? If you're miserable |
| 1070 | 03:20:08,070 --> 03:20:20,160 | when you're not doing it at least by having a skill set like this and knowing when it's likely to be choppy, you listless not doing too much, you won't feel |
| 1071 | 03:20:21,090 --> 03:20:32,910 | all the problems that usually come with wanting to be trading all the time. Well, as much as I love talking, we are one minute past or almost two minutes |
| 1072 | 03:20:32,910 --> 03:20:42,510 | past the time I said I would spend with you. So I've walked you through as much as I could for today miss, doing pretty much what we outlined, it was sitting |
| 1073 | 03:20:42,510 --> 03:20:52,980 | sideways, hasn't done much in terms of movement. That would be terribly exciting. But we did see some fluctuations. I would be more interested in this |
| 1074 | 03:20:52,980 --> 03:21:03,450 | is for your own study, I would be more interested in the two o'clock to four o'clock, I think you might see something, then why because the market has been |
| 1075 | 03:21:03,450 --> 03:21:14,070 | going sideways here. Most people are going to be bored by it and do what go to the golf range, go. Whatever, whatever they whatever they do outside of trading, |
| 1076 | 03:21:14,070 --> 03:21:24,150 | I don't know. But in the last hour or so, maybe the last 90 minutes, we'll probably see something that is much more favorable in terms of price delivery |
| 1077 | 03:21:24,150 --> 03:21:31,530 | than what we've seen thus far for today. So I'm going to counsel you to go take a look at that later on today. Get yourself something to eat, stretch out, walk |
| 1078 | 03:21:31,530 --> 03:21:41,760 | around, get some exercise, and then around two o'clock, or 230 Going into the four o'clock hour study ES and see what you find in the in your price action |
| 1079 | 03:21:41,760 --> 03:21:51,840 | study. Any observation? Send it to me on Twitter, I'd like to see it. But that's gonna be it for today. Let me take a quick look at tomorrow's economic calendar. |
| 1080 | 03:21:51,870 --> 03:21:59,130 | I don't recall off the top my head what there is there isn't one tomorrow. Bear with me one second. |
| 1081 | 03:22:12,120 --> 03:22:24,810 | All right, we have unemployment claims tomorrow in Philly Fed manufacturing index. So there might be a little bit of a flurry tomorrow morning. I think what |
| 1082 | 03:22:24,810 --> 03:22:34,500 | I'll do tomorrow is I'll I'll start streaming that around 815. And we'll watch the delivery of the unemployment claims. And we'll carry that into like, maybe |
| 1083 | 03:22:34,500 --> 03:22:45,420 | 945 10 o'clock. And that'll be my second live stream for the week. And that'll be it for this week. And I think that'll be it. Okay, so, enjoy the rest of your |
| 1084 | 03:22:45,420 --> 03:22:53,370 | day, your rest of your evening, make sure that you have taken some notes because I've really shared some things in my opinion, and my experience going through |
| 1085 | 03:22:53,370 --> 03:23:04,440 | all this stuff for as long as I have. What I shared isn't in books, and I wish they would have been taught to me, and at least given me a different perspective |
| 1086 | 03:23:04,470 --> 03:23:14,160 | that you really won't have unless it's been explained to you on how to just let go. Let the market have these time of days, when you're not part of it. It's |
| 1087 | 03:23:14,160 --> 03:23:25,500 | okay, you're not missing anything. These these types of days can be mixed in, it's okay, your career will be fine. The importance of knowing how they form |
| 1088 | 03:23:25,590 --> 03:23:35,940 | when they form is when the conditions that create these types of environments or trading days, when you don't have that then you have the likelihood of a low |
| 1089 | 03:23:35,940 --> 03:23:46,860 | resistance liquidity run. You don't have that in this condition here. So it's important to know what it is like for it to be next to impossible for a low |
| 1090 | 03:23:46,860 --> 03:23:57,030 | resistance liquidity run to exist. So it's important that you take that away from today. And that way when we go forward into our future live sessions, when |
| 1091 | 03:23:57,030 --> 03:24:07,230 | it's not bringing these types of conditions, you'll see that we can call pretty much every minute ebb and flow of what's likely to occur in this market or any |
| 1092 | 03:24:07,230 --> 03:24:17,730 | other market. So with that, have a good day. Take care. And don't forget to share your observations even if it's later on today or tonight. Show me what you |
| 1093 | 03:24:17,730 --> 03:24:26,190 | see in the last two to two hours to 90 minutes during today's trading session. Until I talk to you next time. Be safe |