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2 |1 |00:00:00 ~-~-> 00:00:06 |ICT: Well, good morning. Good morning. Good morning is a good price. Here's a
3 |2 |00:00:06 ~-~-> 00:00:11 |four hour chart on es just let me know I'm bullish. I think we're gonna try to
4 |3 |00:00:11 ~-~-> 00:00:20 |press higher. And we'll jump into a 15 minute timeframe. See that fairway
5 |4 |00:00:20 ~-~-> 00:00:25 |getting right there, I missed that dilly dally and waiting for this Camtasia
6 |5 |00:00:26 ~-~-> 00:00:31 |platform to start. So this is where I believe we're gonna rip up into and hire
7 |6 |00:00:35 ~-~-> 00:00:38 |Okay, and I may
8 |7 |00:00:43 ~-~-> 00:00:57 |see if I use that and then put the stop below there's a little why because it
9 |8 |00:00:57 ~-~-> 00:01:08 |must be for non farm payrolls, wild and wooly price action. So right in there,
10 |9 |00:01:09 ~-~-> 00:01:19 |I'll make it white. So it's a contrast. So inside that for our for Vega, it's in
11 |10 |00:01:19 ~-~-> 00:01:26 |a discount relative to that low to the high, we drop down. There's a small
12 |11 |00:01:26 ~-~-> 00:01:32 |little gap in here I'm watching and see how it behaves in here as well. But this
13 |12 |00:01:32 ~-~-> 00:01:39 |is the one that's the inefficiency. Oh, and like, give us an allowance, you know
14 |13 |00:01:39 ~-~-> 00:01:44 |that that will take that thank you so much. Alright, so that might look like a
15 |14 |00:01:44 ~-~-> 00:01:49 |lot of money with you. But it's really not in the grand scheme of things. And
16 |15 |00:01:49 ~-~-> 00:02:01 |we'll take five off of here. And just so you understand what I'm referring to
17 |16 |00:02:01 ~-~-> 00:02:04 |here, and what's making this even important at all, is that this is a
18 |17 |00:02:04 ~-~-> 00:02:09 |Judas swing. Yes, initially, we had this little run up in here. But notice it did
19 |18 |00:02:09 ~-~-> 00:02:14 |not take the buy side here, here, or here. This is what they're tricking
20 |19 |00:02:14 ~-~-> 00:02:23 |traders to trust this resistance, okay. In here this inefficiency when price
21 |20 |00:02:23 ~-~-> 00:02:28 |started to rally up, and between this high been taken out through here, in
22 |21 |00:02:28 ~-~-> 00:02:34 |this low forming that range, if we look through that, and we only focus on this
23 |22 |00:02:34 ~-~-> 00:02:44 |segment of price action right in here. Okay, you know, color that yellow. Okay,
24 |23 |00:02:44 ~-~-> 00:02:53 |so all of us wanted. So all of this price range that ran from this area here
25 |24 |00:02:53 ~-~-> 00:02:59 |to here, all that price run, what I'm looking at is how price started the
26 |25 |00:02:59 ~-~-> 00:03:07 |rally here came up to this candles high and then retreated. repriced, back down
27 |26 |00:03:07 ~-~-> 00:03:14 |into the low end here. So from this high that candle to that candles low. This is
28 |27 |00:03:14 ~-~-> 00:03:20 |all efficiently delivered price action. Meaning that it's like a paint roller
29 |28 |00:03:20 ~-~-> 00:03:25 |analogy I use if you're painting your wall your home, when you apply the paint
30 |29 |00:03:25 ~-~-> 00:03:29 |to the roller and like place the roller against the wall and you roll it up the
31 |30 |00:03:29 ~-~-> 00:03:36 |first few inches of the paint being delivered to the wall, it's ample,
32 |31 |00:03:36 ~-~-> 00:03:42 |meaning that it's very significant amount of paint being distributed to the
33 |32 |00:03:42 ~-~-> 00:03:47 |wall surface. But eventually, as that roller keeps being being pressed higher,
34 |33 |00:03:47 ~-~-> 00:03:53 |it runs out of the amount of paint that would be equally distributed on the
35 |34 |00:03:53 ~-~-> 00:03:57 |surface of the wall. And you'll start seeing these little horse pockets, which
36 |35 |00:03:57 ~-~-> 00:04:03 |is what this has been shown here, this little chip, which is that one single
37 |36 |00:04:03 ~-~-> 00:04:08 |candle. Take that off. So this inefficiency here, just like if you were
38 |37 |00:04:08 ~-~-> 00:04:13 |rolling a paint roller with paint and applying it to this area here. Well,
39 |38 |00:04:13 ~-~-> 00:04:17 |looking back at where you just rolled the paint roller, this is a little area
40 |39 |00:04:17 ~-~-> 00:04:23 |where the paint wasn't equally distributed. Because of this very
41 |40 |00:04:23 ~-~-> 00:04:30 |candle. Let me widen them a little bit. This candle here it's high right there.
42 |41 |00:04:30 ~-~-> 00:04:35 |And then the next candle after big up close candle here. There's a gap where
43 |42 |00:04:35 ~-~-> 00:04:40 |there was nothing offered back down to at least touch this candles high. So
44 |43 |00:04:40 ~-~-> 00:04:44 |that's what makes a fair value gap, a fair value gap. Okay, why did I name it
45 |44 |00:04:44 ~-~-> 00:04:50 |and coin a fair value gap? It's offering fair value. If you're bullish, and this
46 |45 |00:04:50 ~-~-> 00:04:54 |is the part that news still escapes many of you that are running around trying to
47 |46 |00:04:54 ~-~-> 00:04:57 |talk about fair I guess when most the time don't really know what you're doing
48 |47 |00:04:57 ~-~-> 00:05:02 |it and I Understand the Zeel it's exciting because you're you're handling
49 |48 |00:05:02 ~-~-> 00:05:06 |something that you know and see it works. And you're, you're discovering
50 |49 |00:05:06 ~-~-> 00:05:14 |new multi facets to something that you're on the road the progression to
51 |50 |00:05:14 ~-~-> 00:05:18 |understanding. But don't try to teach it yet because you don't know what you're
52 |51 |00:05:18 ~-~-> 00:05:23 |doing it. But I appreciate and love the zeal and all of your excitement about
53 |52 |00:05:23 ~-~-> 00:05:30 |it. But this little area in here, it's lacking movement back down to at least
54 |53 |00:05:30 ~-~-> 00:05:34 |at least touch this candle is high. Okay, so because this candle is high and
55 |54 |00:05:34 ~-~-> 00:05:40 |at candles low, there's only one pass in delivery price and it's going up, you
56 |55 |00:05:40 ~-~-> 00:05:48 |see that? So that movement up? How does that re distribute efficiency in market
57 |56 |00:05:48 ~-~-> 00:05:53 |delivery for price, it must do what offering going back down at a later
58 |57 |00:05:53 ~-~-> 00:05:58 |time. While we're seeing it 830, which is nonfarm payroll Friday, this is where
59 |58 |00:05:58 ~-~-> 00:06:02 |we're at happening on payroll, the market drops back down into that area
60 |59 |00:06:02 ~-~-> 00:06:06 |overshoots a little bit. But that's, that's fine. Because all of this area in
61 |60 |00:06:06 ~-~-> 00:06:12 |here is a balanced price range. So goes down into the range. I mentioned it to
62 |61 |00:06:12 ~-~-> 00:06:18 |you live. It's part of that for our fair value guy. Okay, so the market has shown
63 |62 |00:06:18 ~-~-> 00:06:25 |a willingness to want to reach back up in to this area up in here. So what
64 |63 |00:06:25 ~-~-> 00:06:30 |we're gonna be watching now is, does price want to at least trade back above
65 |64 |00:06:31 ~-~-> 00:06:38 |the consequent encroachment of this wick, which is here. And once I drop
66 |65 |00:06:38 ~-~-> 00:06:44 |this level on, and I'll have the quarter segment, each one of these is a
67 |66 |00:06:44 ~-~-> 00:06:50 |quadrant. And it's not quarters theory, by the way. And what's all this business
68 |67 |00:06:50 ~-~-> 00:06:54 |about Goldbach levels, I don't do anything with Goldbach. The price
69 |68 |00:06:54 ~-~-> 00:07:01 |engines the algorithm itself. Enigma has no association with Goldbach. Okay, so
70 |69 |00:07:01 ~-~-> 00:07:06 |for the folks that are out there trying to claim that it is it's not okay, stop
71 |70 |00:07:06 ~-~-> 00:07:10 |doing that kind of stuff. Because you're you're sowing misinformation. And I'm
72 |71 |00:07:10 ~-~-> 00:07:15 |going to call you out on it. So anyway, let's jump into a five minute chart. And
73 |72 |00:07:15 ~-~-> 00:07:20 |you can see the bodies respecting that for our fair value get high. And see
74 |73 |00:07:20 ~-~-> 00:07:26 |that. And our focus is does it want to trade above that consequent
75 |74 |00:07:26 ~-~-> 00:07:36 |encouragement right here that midpoint. So I would like to pair my lungs with
76 |75 |00:07:36 ~-~-> 00:07:46 |the existing by stops that are resting above you might hear my puppy snoring,
77 |76 |00:07:47 ~-~-> 00:07:53 |the buy stops that are resting on this old high here. So I want to see it go
78 |77 |00:07:53 ~-~-> 00:08:00 |there. Because there's actual orders resting up there. And the initial run on
79 |78 |00:08:00 ~-~-> 00:08:04 |Non Farm Payroll generally is kind of like a FOMC event. It's a fake move. And
80 |79 |00:08:04 ~-~-> 00:08:10 |I don't see this initial rally is the fake move. Okay, it's more this trending
81 |80 |00:08:10 ~-~-> 00:08:12 |back down. And this really gets everybody thinking it's gonna go lower.
82 |81 |00:08:13 ~-~-> 00:08:16 |And you're probably watching live streamers right now they're probably
83 |82 |00:08:16 ~-~-> 00:08:23 |extremely bearish. And I'm not. So let's do this
84 |83 |00:08:30 ~-~-> 00:08:38 |inside, right, so right away, you know, I can be taking something off because
85 |84 |00:08:38 ~-~-> 00:08:47 |it's not from payroll Friday, it's it's moved enough to warrant a measure of
86 |85 |00:08:47 ~-~-> 00:08:51 |profit taking it certainly the five handles minimum I preach and teach that
87 |86 |00:08:52 ~-~-> 00:08:57 |you should be striving for about one give it some time, but it took a little
88 |87 |00:08:57 ~-~-> 00:09:05 |bit. And I would like to see it in the event that it does want to go up here
89 |88 |00:09:05 ~-~-> 00:09:10 |and shake out and then go lower again, I'm going to put a limit order right at
90 |89 |00:09:10 ~-~-> 00:09:17 |the consequent curtailment level for just one contract. Because I'm not
91 |90 |00:09:17 ~-~-> 00:09:19 |certain I'm gonna be able to pyramid anything on this. And because non farm
92 |91 |00:09:19 ~-~-> 00:09:26 |payrolls kind of woolly, it does some pretty gnarly stuff. So if it can reach
93 |92 |00:09:26 ~-~-> 00:09:29 |above this area here, one more pass up in there that will allow me to at least
94 |93 |00:09:29 ~-~-> 00:09:32 |get something out of it. And then I can roll the stop to break even then I can
95 |94 |00:09:32 ~-~-> 00:09:35 |just sacrifice the rest of the position. And some of you might say, Well, why
96 |95 |00:09:35 ~-~-> 00:09:41 |would you want to do that? You're leaving 7000 $8,000 on the table. And
97 |96 |00:09:41 ~-~-> 00:09:46 |the reason why I'm saying that is because of experience. You're not going
98 |97 |00:09:46 ~-~-> 00:09:51 |to get the big runs or big wins, unless you hold for. If you don't ever hold on
99 |98 |00:09:51 ~-~-> 00:09:56 |to it. You'll never get the big large range days you'll never get them. So you
100 |99 |00:09:56 ~-~-> 00:10:02 |have to allow for it to sometimes Take it all back, except for a small little
101 |100 |00:10:02 ~-~-> 00:10:08 |piece. This way it covers costs, it covers commissions, it covers that
102 |101 |00:10:08 ~-~-> 00:10:12 |little scratch that itch that you have, as a trader, when you're in a trade, you
103 |102 |00:10:12 ~-~-> 00:10:17 |feel like you have to have something profitable, or it's, it's a total
104 |103 |00:10:17 ~-~-> 00:10:27 |failure. I'm invested you a few minutes, that hasn't been very long, less than 10
105 |104 |00:10:27 ~-~-> 00:10:32 |minutes. And your 10 minutes is not a lot of time. So I can I can afford to
106 |105 |00:10:33 ~-~-> 00:10:38 |have a move on the market. See it came out, give me a small little piece like
107 |106 |00:10:38 ~-~-> 00:10:43 |it's about to hear. And then we're almost out to breakeven, and isn't the
108 |107 |00:10:43 ~-~-> 00:10:49 |only time I've made $10,000. Okay, so here we go, just got taken out. So now I
109 |108 |00:10:49 ~-~-> 00:10:55 |can roll my stop, to break even plus commissions plus a small little profit.
110 |109 |00:10:55 ~-~-> 00:10:59 |And why am I not jamming and all we back up here because it could respect the
111 |110 |00:10:59 ~-~-> 00:11:05 |same for our fair value gap. Hi, notice I have it sitting right here, you're
112 |111 |00:11:05 ~-~-> 00:11:08 |probably wondering, Well, isn't that rate below that low, where they're
113 |112 |00:11:08 ~-~-> 00:11:11 |sellside. They've already done the damage and rip through all of that.
114 |113 |00:11:12 ~-~-> 00:11:16 |Okay, so what I want to do is I'm gonna sit and watch does it give me that
115 |114 |00:11:16 ~-~-> 00:11:21 |close? Any close above this consequent encroachment level is going to be like
116 |115 |00:11:21 ~-~-> 00:11:27 |the hand of the dealers, okay? being shown to you, they're going to show you
117 |116 |00:11:27 ~-~-> 00:11:30 |their cards. If you can close above that level, meaning that I would like to see
118 |117 |00:11:30 ~-~-> 00:11:36 |it, then run up here hit my limit order. And then at that time, or how it trades
119 |118 |00:11:36 ~-~-> 00:11:41 |there, if at all, because I could be wrong, then I'll determine whether or
120 |119 |00:11:41 ~-~-> 00:11:47 |not I want to take more off you manually or if I get stopped out it everything
121 |120 |00:11:47 ~-~-> 00:11:51 |remains an uncertain right now. And that's the reason why I don't like
122 |121 |00:11:51 ~-~-> 00:11:55 |trading Non Farm Payroll because it really is a gamble. And if I fail in
123 |122 |00:11:55 ~-~-> 00:12:00 |seeing anything outside of what are you have posted here as a gain, and it comes
124 |123 |00:12:00 ~-~-> 00:12:05 |back and starting out and only allows me to have this exit here. And where the
125 |124 |00:12:05 ~-~-> 00:12:11 |stop losses when it comes back down. If he hits it, then you know, it is what it
126 |125 |00:12:11 ~-~-> 00:12:15 |is it's done. But it's a wonderful experience for you to study. It's a
127 |126 |00:12:15 ~-~-> 00:12:20 |wonderful experience for you to see why and appreciate why I don't actively go
128 |127 |00:12:20 ~-~-> 00:12:28 |out here and try to participate. Because it's not something that I don't need
129 |128 |00:12:28 ~-~-> 00:12:35 |this day of every month to need to feel good about being a trader. I've done it
130 |129 |00:12:35 ~-~-> 00:12:40 |long enough. And I've been hurt enough times to know that this is a day, just
131 |130 |00:12:40 ~-~-> 00:12:44 |like yesterday, Thursday, even though you saw me smoke it and literally
132 |131 |00:12:44 ~-~-> 00:12:50 |destroy it. That's the two days of the month, where it might accuracy, my
133 |132 |00:12:50 ~-~-> 00:13:00 |precision, my trust, my affinity for the market in itself is challenged. So I
134 |133 |00:13:00 ~-~-> 00:13:05 |don't excel very well on those two days out of the month. So would it be
135 |134 |00:13:06 ~-~-> 00:13:11 |advantageous for me to keep pushing in those two days, some might say, well,
136 |135 |00:13:11 ~-~-> 00:13:15 |you should just go in here and try to overcome it. Well, I overcome it by not
137 |136 |00:13:15 ~-~-> 00:13:18 |taking any risks in it. But today, I want to take those risks and show you
138 |137 |00:13:18 ~-~-> 00:13:23 |that, you know, on the mack daddy, and there's none nothing like this in the
139 |138 |00:13:23 ~-~-> 00:13:28 |marketplace. But there are times and it still could happen here where I can get
140 |139 |00:13:28 ~-~-> 00:13:32 |it wrong. And getting it wrong is not failure. getting it wrong is not
141 |140 |00:13:32 ~-~-> 00:13:38 |embarrassing. getting it wrong is not a I can't trade phenomenon. It's simply a
142 |141 |00:13:38 ~-~-> 00:13:43 |much more challenging environment. So therefore, I'd simply avoid most at a
143 |142 |00:13:43 ~-~-> 00:13:48 |time. But when asked to do so when you're pressed by real sincere students,
144 |143 |00:13:49 ~-~-> 00:13:53 |I have no problem showing you. It's not it's not a big deal. So I like where
145 |144 |00:13:53 ~-~-> 00:13:58 |we're at here, I want to see we're on a five minute chart. Let me add those
146 |145 |00:14:00 ~-~-> 00:14:03 |levels back here. So I want to see it close above that consequent current
147 |146 |00:14:03 ~-~-> 00:14:09 |level. If this candle can close above it, then that, to me indicates that the
148 |147 |00:14:09 ~-~-> 00:14:12 |algorithm should if it if it just doesn't already run right up later and
149 |148 |00:14:12 ~-~-> 00:14:18 |reach for it. As long as it closes about there. I'll trust that it will run for
150 |149 |00:14:18 ~-~-> 00:14:23 |my at least my first limit order resting above here. But I'm gonna be very
151 |150 |00:14:23 ~-~-> 00:14:27 |careful about how it trades here because it could run up rip that and then just
152 |151 |00:14:27 ~-~-> 00:14:35 |drop in for you know, the 450 I'm sorry. 4590 two's Alright, so we closed above
153 |152 |00:14:35 ~-~-> 00:14:42 |it. Now. My mindset is I trust I don't get afraid. I don't become nervous
154 |153 |00:14:42 ~-~-> 00:14:46 |because we're seeing it down close candle information. It doesn't freak me
155 |154 |00:14:46 ~-~-> 00:14:50 |out. It doesn't cause any anxieties. I'm gonna take this Fibonacci off because
156 |155 |00:14:50 ~-~-> 00:14:54 |you've already accomplished the method here. But explaining to you what it was
157 |156 |00:14:54 ~-~-> 00:14:59 |I was looking for. But I'm relaxed. What am I thinking? How far can it go back?
158 |157 |00:15:00 ~-~-> 00:15:04 |down, well, we have these two consecutive down close candles, that
159 |158 |00:15:04 ~-~-> 00:15:08 |body right there that can be treated as an order block. So it can trade back
160 |159 |00:15:08 ~-~-> 00:15:12 |down, rip into this here and then go higher, I don't want to see it do that.
161 |160 |00:15:12 ~-~-> 00:15:15 |Because the fact that it needs to go back down into this as an order block,
162 |161 |00:15:16 ~-~-> 00:15:21 |if it needs to do that, that's far less probability in my favor, I want to see
163 |162 |00:15:21 ~-~-> 00:15:25 |it not do so. So it's not a matter of knowing a PDA, right and expecting it to
164 |163 |00:15:25 ~-~-> 00:15:30 |be hit and respected. There's also a balancing, of seeing the PDA right in
165 |164 |00:15:30 ~-~-> 00:15:37 |price, but then also seeing and measuring the the magnitude of stuff
166 |165 |00:15:37 ~-~-> 00:15:40 |strength or weakness in the market. In this case, I want to see strength, I'm
167 |166 |00:15:40 ~-~-> 00:15:46 |gonna see price reaching up into without needing to come back down to a
168 |167 |00:15:46 ~-~-> 00:15:49 |discounted rate, if it doesn't need to go back down and touch this candles
169 |168 |00:15:49 ~-~-> 00:15:50 |body. And I'll show you what I mean by that.
170 |169 |00:15:58 ~-~-> 00:16:05 |There. So when you see me, showing examples where it's silent executions,
171 |170 |00:16:08 ~-~-> 00:16:13 |I'm testing this as a series, by the way, on the YouTube channel, where I'm
172 |171 |00:16:13 ~-~-> 00:16:17 |doing the executions, and kind of talking about what it is that's going
173 |172 |00:16:17 ~-~-> 00:16:21 |through my mind, I'm giving you the inner musings of ICT, as it happens real
174 |173 |00:16:21 ~-~-> 00:16:27 |time. I don't want to see it, come down and hit that. But if it does, it's
175 |174 |00:16:27 ~-~-> 00:16:31 |completely acceptable, it doesn't change the underlying narrative that we're
176 |175 |00:16:31 ~-~-> 00:16:36 |going to likely go higher, it just means that it's better if it doesn't come down
177 |176 |00:16:36 ~-~-> 00:16:41 |to hit that. Because if it doesn't go down and starts rallying, then it's
178 |177 |00:16:41 ~-~-> 00:16:46 |really going to be bullish, it's really going to be an energetic price run to
179 |178 |00:16:46 ~-~-> 00:16:51 |the upside. So there's a, there's a strong contrast to what you understand
180 |179 |00:16:52 ~-~-> 00:16:55 |in unlimited capacity about my order block theory, where you would think,
181 |180 |00:16:55 ~-~-> 00:16:59 |Okay, this makes sense to come down to hit that and then rally. But what
182 |181 |00:16:59 ~-~-> 00:17:05 |happens if the market is so strong, in not patient enough to even want to go
183 |182 |00:17:05 ~-~-> 00:17:10 |back down into that discount array? That means it's exceedingly bullish, right.
184 |183 |00:17:11 ~-~-> 00:17:14 |And I want to be a part of that move. And I'm going to be in trades. And I
185 |184 |00:17:14 ~-~-> 00:17:17 |want to hold on to my targets, when it's indicating those types of things.
186 |185 |00:17:17 ~-~-> 00:17:22 |Because it's giving me a great advantage that retail can't perceive and price
187 |186 |00:17:22 ~-~-> 00:17:27 |action, they have no idea what's going on, they have no idea what it's reaching
188 |187 |00:17:27 ~-~-> 00:17:32 |for. I'm sitting here, I'm calmly explaining to you, there's no anxiety,
189 |188 |00:17:32 ~-~-> 00:17:38 |there's no excitement, it's just this is the stuff that happens all the time. And
190 |189 |00:17:38 ~-~-> 00:17:42 |it's just like the same route that you take to your job, you, you drive it all
191 |190 |00:17:42 ~-~-> 00:17:46 |the time, you know, the person's house on the zone, so street that you're gonna
192 |191 |00:17:46 ~-~-> 00:17:50 |pass, you know, all the things you know, the people that you're going to pass
193 |192 |00:17:50 ~-~-> 00:17:55 |that are sitting in the bus stops. It's the same creatures of habit. While price
194 |193 |00:17:55 ~-~-> 00:17:59 |action is the same way after doing it for so long. You get accustomed to it.
195 |194 |00:18:00 ~-~-> 00:18:05 |So you're not surprised, okay. And surprise, invites the elements of fear
196 |195 |00:18:06 ~-~-> 00:18:12 |and greed. If it starts to explode, I'm not going to go wow, look at that, where
197 |196 |00:18:12 ~-~-> 00:18:18 |that comes from. And on the same coin, just turning the other side. If it were
198 |197 |00:18:18 ~-~-> 00:18:22 |to drop and stop me out, I'm not surprised by that either, because it's
199 |198 |00:18:22 ~-~-> 00:18:27 |the characteristic of this particular day of the month where it can absolutely
200 |199 |00:18:28 ~-~-> 00:18:35 |fool me because it's highly manipulated. Okay, but given all the factors being
201 |200 |00:18:35 ~-~-> 00:18:39 |equal, okay, assuming everything being equal is not Non Farm Payroll Friday,
202 |201 |00:18:40 ~-~-> 00:18:43 |how would I trade this market environment? Um, that's what I'm, that's
203 |202 |00:18:43 ~-~-> 00:18:47 |what I'm sharing with you right here. But I'm sharing under the pretense that
204 |203 |00:18:47 ~-~-> 00:18:51 |it is any market condition that is admittedly by my own words, not just
205 |204 |00:18:51 ~-~-> 00:18:56 |here today, but many times, okay, I always say NFP, Non Farm Payroll, I'm
206 |205 |00:18:56 ~-~-> 00:19:00 |going to borrow a term I learned from Linda Raschke. It's not for
207 |206 |00:19:00 ~-~-> 00:19:07 |professionals. Okay, so that idea stands true today. And right now, some of you
208 |207 |00:19:07 ~-~-> 00:19:12 |should be scratching your head thinking, you know, if you're uncertain, and it's
209 |208 |00:19:12 ~-~-> 00:19:18 |already showing unwillingness to rally continuously, why don't you just take
210 |209 |00:19:18 ~-~-> 00:19:23 |more profits off here? I could, but I don't want to. I want you to see what
211 |210 |00:19:23 ~-~-> 00:19:28 |it's like for me to try to trade like I normally do in this particular day. That
212 |211 |00:19:28 ~-~-> 00:19:32 |way you can appreciate the characteristics and the difficulty of
213 |212 |00:19:32 ~-~-> 00:19:38 |managing the emotions managing the the risk obviously is which is paramount.
214 |213 |00:19:39 ~-~-> 00:19:44 |And knowing what that feels like watching it, but also trusting your role
215 |214 |00:19:44 ~-~-> 00:19:50 |based ideas. So since these concepts are codified by me, and I understand them
216 |215 |00:19:50 ~-~-> 00:19:54 |intimately, I am okay with it. Even if it comes back and starts me out. This
217 |216 |00:19:54 ~-~-> 00:19:58 |isn't the only trade I'm ever going to win it. It's not the it's not the only
218 |217 |00:19:58 ~-~-> 00:20:03 |day I can be profitable. But when you are a new trader, and you're not really
219 |218 |00:20:03 ~-~-> 00:20:08 |versed in what it is that you're you should be focusing on, it's very easy to
220 |219 |00:20:08 ~-~-> 00:20:15 |encapsulate or try to encapsulate the entirety of your career. On the results
221 |220 |00:20:15 ~-~-> 00:20:18 |of that one trade that you're in right now, or the one you're about to take.
222 |221 |00:20:19 ~-~-> 00:20:28 |The, the measure of your success is based on the trade right now. And you
223 |222 |00:20:28 ~-~-> 00:20:33 |need to remove that. That's a plague. Okay, that's a terrible, toxic mindset.
224 |223 |00:20:34 ~-~-> 00:20:39 |And that's why trading is very difficult for everyone, because, especially for
225 |224 |00:20:39 ~-~-> 00:20:45 |men, because we are all about measuring up. And in trading, it really seizes on
226 |225 |00:20:45 ~-~-> 00:20:50 |that weakness in the male mindset that they have to measure up. When this isn't
227 |226 |00:20:50 ~-~-> 00:20:55 |about Olympic feet, it's about making money. That's all this is. It's unless
228 |227 |00:20:55 ~-~-> 00:20:58 |you're in a competition. If you're in a trading competition, then all you know,
229 |228 |00:20:58 ~-~-> 00:21:03 |then it's balls out, and let's see what happens. And who can do what, but on an
230 |229 |00:21:03 ~-~-> 00:21:06 |everyday basis, running it as a business. When you're not gambling,
231 |230 |00:21:06 ~-~-> 00:21:09 |you're not trying to over leverage because you want to have unrealistic
232 |231 |00:21:09 ~-~-> 00:21:15 |expectations realized as a competition result or percentage gain. If it's just
233 |232 |00:21:15 ~-~-> 00:21:18 |about making money, and you're running as a business, you're not going to take
234 |233 |00:21:18 ~-~-> 00:21:23 |foolish risks. But you're not going to also worry. If you own a business of
235 |234 |00:21:23 ~-~-> 00:21:27 |brick and mortar store that sold shoes, you know, you're not going to go to work
236 |235 |00:21:27 ~-~-> 00:21:32 |every day worrying about the likelihood of people not wanting to wear shoes
237 |236 |00:21:32 ~-~-> 00:21:36 |anymore, we're all going to wear shoes, we're all gonna have shoes, we're all
238 |237 |00:21:36 ~-~-> 00:21:40 |gonna have a need for shoes, okay. And there's lots of different brands of
239 |238 |00:21:40 ~-~-> 00:21:45 |shoes. Some are more popular than others. But the premise is that there is
240 |239 |00:21:45 ~-~-> 00:21:50 |a real need, there is a model that can be exploited there, people are going to
241 |240 |00:21:50 ~-~-> 00:21:55 |be born generally unless there's a birth defect, they're going to need covering
242 |241 |00:21:55 ~-~-> 00:22:00 |for the feet. So therefore that market will always exist. My pdra is my models,
243 |242 |00:22:00 ~-~-> 00:22:05 |okay, are based on that same idea that I know the market is going to reach for
244 |243 |00:22:05 ~-~-> 00:22:09 |inefficiencies, then it's going to reach for liquidity, or it's going to reach
245 |244 |00:22:09 ~-~-> 00:22:13 |for liquidity and then reach for inefficiencies, or vice versa. But those
246 |245 |00:22:13 ~-~-> 00:22:18 |two premise permeate the understanding that I have with the marketplace, and I
247 |246 |00:22:18 ~-~-> 00:22:22 |share with you as my students. So I'm not I'm not surprised when I'm looking
248 |247 |00:22:22 ~-~-> 00:22:25 |at price action. I'm like, Oh, my goodness, wait, why did that happen?
249 |248 |00:22:26 ~-~-> 00:22:31 |That's not That's not a concern. For me. My concern is, is am I following my
250 |249 |00:22:31 ~-~-> 00:22:36 |model, am I following the rule based ideas that I've codified, implemented,
251 |250 |00:22:36 ~-~-> 00:22:42 |and I've used for 30 years, so I'm not emotional about it. And frankly, I'm
252 |251 |00:22:42 ~-~-> 00:22:46 |bored. And this is actually not all that exciting, like, I wanted to see a whole
253 |252 |00:22:46 ~-~-> 00:22:49 |lot more movement for this particular Non Farm Payroll.
254 |253 |00:23:02 ~-~-> 00:23:08 |So we've had one close above. I'm watching this candle here.
255 |254 |00:23:13 ~-~-> 00:23:17 |And how it's behaving, we'll put the feedback on just to show you in
256 |255 |00:23:17 ~-~-> 00:23:24 |relationship to that wick right here. So all of this was a initial rate. And then
257 |256 |00:23:24 ~-~-> 00:23:28 |they dropped the object down into a deep discount. We've had one close above,
258 |257 |00:23:28 ~-~-> 00:23:33 |this one didn't close above, and we're now just below it. So I'm demanding
259 |258 |00:23:33 ~-~-> 00:23:39 |price action to show me another close above here. If this doesn't close above
260 |259 |00:23:39 ~-~-> 00:23:44 |it, I will take three contracts off just to fund the position and they get a
261 |260 |00:23:44 ~-~-> 00:23:56 |little bit better. Payment for my time. Okay, about 40 seconds to the close of
262 |261 |00:23:56 ~-~-> 00:24:02 |that candle. We're on a five minute candlestick chart, by the way. folks
263 |262 |00:24:02 ~-~-> 00:24:06 |asking can you do things with finance or I don't like the one minute charts too
264 |263 |00:24:06 ~-~-> 00:24:13 |fast. It's the same market. The fluctuations that you're watching from
265 |264 |00:24:13 ~-~-> 00:24:21 |Port 458 5.50 2.75. That's, that's happening the same speed on a minute
266 |265 |00:24:21 ~-~-> 00:24:26 |chart, it's happening the same speed on a five second chart or one second, it's
267 |266 |00:24:26 ~-~-> 00:24:32 |the same. The price action is the same. You need to stop thinking and being
268 |267 |00:24:32 ~-~-> 00:24:36 |imprisoned by timeframes. Alright, so it didn't close. You see that. So I'm going
269 |268 |00:24:36 ~-~-> 00:24:45 |to take three off there. So now I'm well funded on this. And now if it were to
270 |269 |00:24:45 ~-~-> 00:24:48 |come all the way back down in, it stopped me out. It's completely
271 |270 |00:24:48 ~-~-> 00:24:53 |irrelevant. Now. I've made more than the average person makes in a week's Wait,
272 |271 |00:24:54 ~-~-> 00:24:58 |even that professional wage, and I've done so in just a few minutes of the
273 |272 |00:24:58 ~-~-> 00:25:01 |worst trading environment day The other month, which is Non Farm Payroll Friday
274 |273 |00:25:04 ~-~-> 00:25:08 |in local markets behaving here, so we trading in the debt waterblock. And this
275 |274 |00:25:08 ~-~-> 00:25:16 |is where I would demand the importance of not importance. But the
276 |275 |00:25:16 ~-~-> 00:25:22 |characteristic that this should send price higher. Were in this area, he all
277 |276 |00:25:22 ~-~-> 00:25:26 |of this price action here was a raid. That's my entire interpretation of price
278 |277 |00:25:26 ~-~-> 00:25:31 |action. And I'm believing that they're going to want to rip up into this area
279 |278 |00:25:31 ~-~-> 00:25:36 |here because they want to attack people that are short. And they enticed people
280 |279 |00:25:36 ~-~-> 00:25:42 |to get short. But they stopped anyone that was already short ahead of time,
281 |280 |00:25:42 ~-~-> 00:25:46 |before 830, they come up, knock them out, so they can't get a part of this
282 |281 |00:25:46 ~-~-> 00:25:49 |move where you can get really good profits and cover at a really nice
283 |282 |00:25:49 ~-~-> 00:25:58 |handsome profit. Then they took it all back up here thinking okay. There is no
284 |283 |00:25:58 ~-~-> 00:26:09 |necessity for price to do what? Pay long holders. Nobody wants to be long. Nobody
285 |284 |00:26:09 ~-~-> 00:26:15 |would trust being short, as a smart money, mindset. They want to be long.
286 |285 |00:26:16 ~-~-> 00:26:20 |dipping down here as the discount, that's this is all trap. But they
287 |286 |00:26:20 ~-~-> 00:26:24 |cancelled out the potential for profitability for anyone that was short
288 |287 |00:26:24 ~-~-> 00:26:28 |that show their stop loss rate in here. So if they didn't trail their stop loss,
289 |288 |00:26:28 ~-~-> 00:26:32 |and we're short from back here, where's their stop at right there.
290 |289 |00:26:38 ~-~-> 00:26:44 |So as soon as the market decides if it wants to go up here, I will take one off
291 |290 |00:26:44 ~-~-> 00:26:49 |rate above this high manually if it allows me to do so I will not move my
292 |291 |00:26:49 ~-~-> 00:26:54 |stop loss from where it is right now. That's leaving a lot of money on the
293 |292 |00:26:54 ~-~-> 00:26:59 |table. I got a guy said to comment on the video the other day where I had a
294 |293 |00:26:59 ~-~-> 00:27:03 |couple $1,000 He came all the back and stopped me out. I wasn't in front of the
295 |294 |00:27:03 ~-~-> 00:27:07 |screen. But I am in front of screen today because it's not on payroll and I
296 |295 |00:27:07 ~-~-> 00:27:13 |want to be babysitting the position. But after the fact, it's real easy to ask
297 |296 |00:27:13 ~-~-> 00:27:16 |questions like you know, why did you leave all the money on the table. But if
298 |297 |00:27:16 ~-~-> 00:27:20 |this person is a traitor, you didn't take every bit of the profit of every
299 |298 |00:27:20 ~-~-> 00:27:23 |trade you were in either. There's going to be times where you leave money on the
300 |299 |00:27:23 ~-~-> 00:27:27 |table. But you're worried about that money. I'm not worried about that money.
301 |300 |00:27:28 ~-~-> 00:27:32 |That's I mean, that's that money can be taken and plucked off the money tree
302 |301 |00:27:32 ~-~-> 00:27:35 |that's in here every single day, when I'm going to sit down and read these
303 |302 |00:27:35 ~-~-> 00:27:39 |charts, I can do that. So that's the reason why I leave money on the table.
304 |303 |00:27:39 ~-~-> 00:27:43 |Because I'm looking for the larger hauls. I want a bigger harvest. And I
305 |304 |00:27:43 ~-~-> 00:27:49 |know what to do to get them. But sometimes it's not it's not going to be
306 |305 |00:27:49 ~-~-> 00:27:54 |that day for that particular trade to pan out in its biggest capacity or
307 |306 |00:27:54 ~-~-> 00:27:58 |largest magnitude that I'm anticipating in that specific setup, it may not yield
308 |307 |00:27:58 ~-~-> 00:28:04 |itself to me. So because I don't measure my success on the basis of one
309 |308 |00:28:04 ~-~-> 00:28:09 |individual transaction on one trade, I'm okay with letting it pick some back from
310 |309 |00:28:09 ~-~-> 00:28:14 |me. It's an it's a interesting one. Okay, I'm going to let the market take
311 |310 |00:28:14 ~-~-> 00:28:18 |it back from me, because I'm going to get it back with interest later on that
312 |311 |00:28:18 ~-~-> 00:28:23 |I don't look at losses as a failure. I look at it as a loan that I'm giving to
313 |312 |00:28:23 ~-~-> 00:28:27 |the marketplace. Someone made some money off of that money I left on the table.
314 |313 |00:28:28 ~-~-> 00:28:35 |Okay, that's fine. I'm in the business of interest and I'm going to get that
315 |314 |00:28:35 ~-~-> 00:28:40 |money back with interest in my future trades. See that's the difference
316 |315 |00:28:40 ~-~-> 00:28:45 |between me and my mindset and how smart money and longevity traders think you
317 |316 |00:28:45 ~-~-> 00:28:52 |know we are legacy moneymakers we're not you know, one hit wonders day traders
318 |317 |00:28:52 ~-~-> 00:28:56 |getting lucky here and there windfall victory traders, where you are counting
319 |318 |00:28:56 ~-~-> 00:29:01 |every penny, in every penny matters. That's that's not how we think we're not
320 |319 |00:29:01 ~-~-> 00:29:05 |we're not worried about those types of things. We're sitting back relaxing,
321 |320 |00:29:05 ~-~-> 00:29:10 |letting the probabilities do the heavy lifting. And just simply following the
322 |321 |00:29:10 ~-~-> 00:29:15 |model not over leveraging not forcing it. Alright, so here's a little bit of
323 |322 |00:29:15 ~-~-> 00:29:21 |the inefficiency and between this candle here and here. So I'll be watching how
324 |323 |00:29:21 ~-~-> 00:29:31 |we trade here the sky like the last line in the sand for me she got bullshit that
325 |324 |00:29:31 ~-~-> 00:29:37 |green just to have a little contrast. So there's a little inefficiency here. So
326 |325 |00:29:37 ~-~-> 00:29:45 |in a way, it's kinda like a breaker kinda like a reason for it needs to
327 |326 |00:29:45 ~-~-> 00:29:49 |start rallying here or it's likely come back down in touch and maybe trade
328 |327 |00:29:49 ~-~-> 00:29:53 |deeper into that for our fair value got which is in that darker blue shaded area
329 |328 |00:29:53 ~-~-> 00:30:02 |here. When I'm trading here when I'm at educating, I don't have all this stuff
330 |329 |00:30:02 ~-~-> 00:30:06 |on my chart, I have this the levels itself, the numbers, and I write them
331 |330 |00:30:06 ~-~-> 00:30:12 |down on a little notepad. And that's what I work on. Because all of these
332 |331 |00:30:12 ~-~-> 00:30:17 |boxes become very distracting to me. And, like I said, maintenance, if you
333 |332 |00:30:17 ~-~-> 00:30:21 |listen to my, like when I was doing Twitter spaces in the ramps and such,
334 |333 |00:30:23 ~-~-> 00:30:27 |unless I tell you, I'm reading off of the bullet point, list of things, I have
335 |334 |00:30:27 ~-~-> 00:30:31 |an owner, a script knew the things I want to make sure I cover most of the
336 |335 |00:30:31 ~-~-> 00:30:36 |time I'm talking 99.999% of time. I'm not, I'm not following the script here.
337 |336 |00:30:36 ~-~-> 00:30:40 |Obviously, I'm not running off the script, I'm just running off the mouth.
338 |337 |00:30:42 ~-~-> 00:30:50 |These Twitter spaces, show you how I can very easily distract myself from all
339 |338 |00:30:50 ~-~-> 00:30:56 |these different rabbit trails and different tangents I can go off of, in
340 |339 |00:30:56 ~-~-> 00:31:01 |many times, what you think I'm going to cover and talk about, I'll bring in 15
341 |340 |00:31:01 ~-~-> 00:31:06 |other different subjects. And for some people, it's very difficult to listen to
342 |341 |00:31:06 ~-~-> 00:31:16 |me when I'm live and unfiltered. Because I'm, I stray off topic, but I come back.
343 |342 |00:31:17 ~-~-> 00:31:20 |And it's comfortable for me to talk like that my wife, she doesn't really like to
344 |343 |00:31:20 ~-~-> 00:31:24 |have long winded conversations with me. Because I tend to bring in other
345 |344 |00:31:24 ~-~-> 00:31:27 |conversations. She's like, can we talk about this and finishes before we go
346 |345 |00:31:27 ~-~-> 00:31:31 |into another topic. And my mind doesn't work that way, it's 1000 miles an hour,
347 |346 |00:31:31 ~-~-> 00:31:37 |if you can't keep up, then stay on the porch. That's just the way it is. Okay,
348 |347 |00:31:37 ~-~-> 00:31:42 |unfortunately, that's a weakness. In my mind, in my observations as a mentor,
349 |348 |00:31:42 ~-~-> 00:31:47 |that's my weakness. It's very hard for me to stay on task, about one subject
350 |349 |00:31:47 ~-~-> 00:31:51 |matter, but I'm bored easily. Because there's lots of other things to talk
351 |350 |00:31:51 ~-~-> 00:31:54 |about in the price action, there's other things that I could be mentioning, and
352 |351 |00:31:54 ~-~-> 00:32:00 |having a greater appreciation for in the community. When I'm sharing and
353 |352 |00:32:00 ~-~-> 00:32:04 |teaching. There's a lot of things I leave out because I can't allow the
354 |353 |00:32:04 ~-~-> 00:32:07 |teacher to you. But and I don't want to say there's loads of things that get
355 |354 |00:32:07 ~-~-> 00:32:10 |under your skin. Oh, that's a bunch of tone. So it's marketing, it's this,
356 |355 |00:32:10 ~-~-> 00:32:14 |whatever, dude, I can literally keep putting out models every single month,
357 |356 |00:32:15 ~-~-> 00:32:18 |and they'll never be the same thing. And they'll all make money and people will
358 |357 |00:32:18 ~-~-> 00:32:22 |get funded people will make money in life funded accounts, or their own
359 |358 |00:32:22 ~-~-> 00:32:26 |actual money. And people will still try to discount and say it's not real, it's
360 |359 |00:32:26 ~-~-> 00:32:29 |something else made up or it's rehash something, there's always gonna be
361 |360 |00:32:29 ~-~-> 00:32:31 |somebody that has an opinion about what it is I'm doing what everybody else is
362 |361 |00:32:31 ~-~-> 00:32:36 |doing. But all of that stuff is irrelevant. Are you making money with
363 |362 |00:32:36 ~-~-> 00:32:39 |what I'm teaching? That's all it matters? Are you understanding what
364 |363 |00:32:39 ~-~-> 00:32:43 |price action is about the dude next, because if it isn't helping, you don't
365 |364 |00:32:43 ~-~-> 00:32:47 |want to buy stuff. If it's complicated, understand that it was already told to
366 |365 |00:32:47 ~-~-> 00:32:50 |you that it's going to be complicated. It's not an indicator based thing where
367 |366 |00:32:50 ~-~-> 00:32:54 |you wait for it to be overbought or oversold, and you trust something that
368 |367 |00:32:54 ~-~-> 00:32:56 |has absolutely no bearing on what price is going to do as a result of that
369 |368 |00:32:56 ~-~-> 00:33:03 |indicator saying whatever it's saying, there's no bearing at all on overbought,
370 |369 |00:33:03 ~-~-> 00:33:08 |oversold, crossover moving averages harmonic, none of that stuff's making
371 |370 |00:33:08 ~-~-> 00:33:13 |price go up or down. And buying and selling pressure is a myth. The depth of
372 |371 |00:33:13 ~-~-> 00:33:20 |market the DOM, it's not dumb, it's dumb. That in itself means absolutely
373 |372 |00:33:20 ~-~-> 00:33:23 |nothing to because it can be spoofed spoofed is where orders can be flashing
374 |373 |00:33:23 ~-~-> 00:33:27 |in there. Like there's a lot of buy orders above a specific price level or
375 |374 |00:33:27 ~-~-> 00:33:32 |at a particular price level on the on the ladder of a DOM. And they can be
376 |375 |00:33:32 ~-~-> 00:33:39 |spoofed large institutions, okay, like Goldman Sachs, and Citi, all these kind
377 |376 |00:33:39 ~-~-> 00:33:46 |of big, big conglomerates for trading, they have been punished and charges put
378 |377 |00:33:46 ~-~-> 00:33:52 |against them and fined for spoofing and pretending to really try to have orders
379 |378 |00:33:52 ~-~-> 00:33:59 |there. And that it's a gimmick, okay, your it takes more faith to believe in
380 |379 |00:33:59 ~-~-> 00:34:02 |that than it is that you just simply look at where the stops should be.
381 |380 |00:34:02 ~-~-> 00:34:06 |Where's the inefficiencies, they don't hide them from you. They can't hide them
382 |381 |00:34:06 ~-~-> 00:34:13 |from me. So because they can't hide them from you. That's an advantage. Because
383 |382 |00:34:13 ~-~-> 00:34:16 |everyone will have a stoploss when the market has been dropping low or
384 |383 |00:34:16 ~-~-> 00:34:21 |someone's short there or someone's short in a move that's dropping, okay. And we
385 |384 |00:34:21 ~-~-> 00:34:24 |don't need to know how many people are short who it is what their entity is.
386 |385 |00:34:24 ~-~-> 00:34:29 |This means that they're short. And if they're going to manage risk, they're
387 |386 |00:34:29 ~-~-> 00:34:35 |going to place a protective stop in the form of a buy stop above some important
388 |387 |00:34:35 ~-~-> 00:34:41 |high. Well, prior to this drop down. This high was important. We've seen it
389 |388 |00:34:41 ~-~-> 00:34:46 |go right back above it again, in this high. There's people that are short here
390 |389 |00:34:47 ~-~-> 00:34:52 |that their stop loss was never traded to hear. See that? So that's kind of like
391 |390 |00:34:52 ~-~-> 00:34:57 |when I'm basing the remaining portion of this trade on that. They have unfinished
392 |391 |00:34:57 ~-~-> 00:35:00 |business above here and if they get really overzealous on the UPS aside,
393 |392 |00:35:00 ~-~-> 00:35:05 |they can take it up here. And I have enough in the in the tank to allow for
394 |393 |00:35:05 ~-~-> 00:35:10 |to adjust that. If it can start the run up here, I'll change this five to
395 |394 |00:35:10 ~-~-> 00:35:14 |something other than five to allow me a runner because I don't want to pyramid
396 |395 |00:35:15 ~-~-> 00:35:21 |on Non Farm Payroll. Non Farm Payroll is a very challenging market environment
397 |396 |00:35:21 ~-~-> 00:35:28 |where I don't have the faith in my own ability to be very precise in nonfarm
398 |397 |00:35:28 ~-~-> 00:35:37 |payroll market structure. Because it's quirky, it's a little bit more wild,
399 |398 |00:35:37 ~-~-> 00:35:43 |where it is whips around and it seems aimless. And because of that, I can't
400 |399 |00:35:43 ~-~-> 00:35:49 |trust the UNbuilding in a larger position with sound footing. Meaning
401 |400 |00:35:49 ~-~-> 00:35:56 |that it's too uncertain for me to build larger positions were another day of the
402 |401 |00:35:56 ~-~-> 00:36:03 |month, where there isn't this highly manipulation, order flow where it's
403 |402 |00:36:03 ~-~-> 00:36:09 |literally constantly for the first hour, it's highly manipulated, and things that
404 |403 |00:36:09 ~-~-> 00:36:12 |I would otherwise trust in market delivering. And I could go in here and
405 |404 |00:36:12 ~-~-> 00:36:15 |just feel confident that I'm going to do this and do that. I've walked you
406 |405 |00:36:15 ~-~-> 00:36:18 |through most of it to so far this morning about all of this area in here.
407 |406 |00:36:18 ~-~-> 00:36:22 |And because it didn't do a certain thing I was looking for, you know, I banked
408 |407 |00:36:22 ~-~-> 00:36:27 |some more. So out of the 10 contracts that was available to me in the entry
409 |408 |00:36:28 ~-~-> 00:36:30 |down here. The
410 |409 |00:36:32 ~-~-> 00:36:36 |the partials that I've taken one, and then three more because it wasn't given
411 |410 |00:36:36 ~-~-> 00:36:41 |me what I wanted to see. And now look what's happened. Okay, we're in this
412 |411 |00:36:41 ~-~-> 00:36:47 |last enclosed candle. And we're inside of this very vague gap and I'm watching
413 |412 |00:36:47 ~-~-> 00:36:54 |does this candle have a body that closes below or outside this shaded blue area
414 |413 |00:36:54 ~-~-> 00:36:55 |or green area?
415 |414 |00:37:01 ~-~-> 00:37:07 |Here, here, Piper snore, Piper is one of my puppy boxers, all three of my dogs
416 |415 |00:37:07 ~-~-> 00:37:12 |are are female, by the way, sometimes I made so many like to comment and refer
417 |416 |00:37:12 ~-~-> 00:37:16 |to them as some was, sometimes they refer to them as a male puppy or a male
418 |417 |00:37:16 ~-~-> 00:37:21 |dog, I don't have male dogs. I prefer the females and I don't make them, I
419 |418 |00:37:21 ~-~-> 00:37:22 |don't make puppies with them.
420 |419 |00:37:29 ~-~-> 00:37:33 |Alright, so I'd like to see this candle or the very next candle, start to really
421 |420 |00:37:33 ~-~-> 00:37:38 |gain some momentum on the upside and get out of that green shaded area. The
422 |421 |00:37:38 ~-~-> 00:37:42 |longer we spend time in this little area, the more likely we are to trade
423 |422 |00:37:42 ~-~-> 00:37:45 |back down into the top of that fair value gap on the four hour chart, which
424 |423 |00:37:45 ~-~-> 00:37:46 |is this level were here.
425 |424 |00:37:52 ~-~-> 00:37:58 |But being in a position like this, where your your trade is funded, meaning that
426 |425 |00:37:58 ~-~-> 00:38:03 |you've taken something out, anything that can happen right now cannot remove
427 |426 |00:38:03 ~-~-> 00:38:09 |the profitability of this day. Like it could get down there and hit my stop, it
428 |427 |00:38:09 ~-~-> 00:38:15 |doesn't matter. Because the profits are already booked. It doesn't matter to my
429 |428 |00:38:15 ~-~-> 00:38:20 |trade psyche, where it will break me mentally, because it did it. If it comes
430 |429 |00:38:20 ~-~-> 00:38:23 |back and starts me out. I'm not gonna have a bad weekend, because I lost
431 |430 |00:38:23 ~-~-> 00:38:29 |money. It can't happen now. It cannot happen that this trade comes back
432 |431 |00:38:29 ~-~-> 00:38:34 |against me stops me out. And it becomes a negative experience where I can't go
433 |432 |00:38:34 ~-~-> 00:38:39 |on the weekend sailing into it with a smile, see that that's the strength.
434 |433 |00:38:39 ~-~-> 00:38:43 |That's the benefit of taking partials. And that's why I laugh in the face of
435 |434 |00:38:43 ~-~-> 00:38:47 |people that say taking partials is stupid from someone that is anonymous in
436 |435 |00:38:47 ~-~-> 00:38:51 |terms of their ability to trade or be profitable. And there's lots of them on
437 |436 |00:38:51 ~-~-> 00:39:00 |Twitter, lots of them, they have large followings for no reason. So I'd like
438 |437 |00:39:00 ~-~-> 00:39:03 |what we're seeing here, see how the bodies are staying just at the bottom of
439 |438 |00:39:03 ~-~-> 00:39:08 |that green box. The next candle on this candle we're looking at here it opened
440 |439 |00:39:08 ~-~-> 00:39:13 |right at the below the shaded area and we're working our way up in here. I want
441 |440 |00:39:13 ~-~-> 00:39:19 |to see it get really energetic and start to come up out here. I believe that
442 |441 |00:39:19 ~-~-> 00:39:24 |she's really snoring over there. I believe that you at 930 we're really
443 |442 |00:39:24 ~-~-> 00:39:29 |going to rip up into this area here. If it doesn't do before, it definitely will
444 |443 |00:39:29 ~-~-> 00:39:35 |be where I'm thinking that it's going to really reach up into that at 930 and
445 |444 |00:39:35 ~-~-> 00:39:38 |really punish the people that are thinking it's going to go lower. The
446 |445 |00:39:38 ~-~-> 00:39:43 |problem is is Do I have it in me to navigate and stay with this trade not
447 |446 |00:39:43 ~-~-> 00:39:51 |get stopped out. I think I'm safe with the stock where I'm at. It's a bit below
448 |447 |00:39:51 ~-~-> 00:39:59 |the fair pay gap on the four hour charts high and it's behind all the bodies here
449 |448 |00:40:00 ~-~-> 00:40:02 |So remember the bulk of the volume is what in the bodies of the candle, the
450 |449 |00:40:02 ~-~-> 00:40:08 |wick does the damage. And it just seems like, you know, if I get stopped out,
451 |450 |00:40:08 ~-~-> 00:40:14 |I'm okay, this is what I'm saying. And you really want to have your trait and
452 |451 |00:40:14 ~-~-> 00:40:18 |let's take this Fibonacci off because it's really cluttering up the chart. And
453 |452 |00:40:18 ~-~-> 00:40:21 |we've already seen what it was used for
454 |453 |00:40:31 ~-~-> 00:40:34 |She sounds like a lumberjack of theirs Lauren
455 |454 |00:40:44 ~-~-> 00:40:49 |some of you foreign folks are going to assume that that's flatulence. Somebody,
456 |455 |00:40:49 ~-~-> 00:40:53 |some I leave a comment in one of the videos where I've, I didn't mention it
457 |456 |00:40:53 ~-~-> 00:40:57 |was my puppy snoring. And that's why I do it. Because I'm human. I mean,
458 |457 |00:40:57 ~-~-> 00:41:02 |obviously, you know, when I eat and consume food, I'm just like, you know,
459 |458 |00:41:02 ~-~-> 00:41:07 |those things are gonna happen. But I'm not doing that on videos. I would never
460 |459 |00:41:07 ~-~-> 00:41:12 |do that on video. But yeah, some I've seen comments from folks I'm certain are
461 |460 |00:41:12 ~-~-> 00:41:20 |foreigners. They hear a sound, and because the sound isn't addressed. And
462 |461 |00:41:20 ~-~-> 00:41:25 |maybe they're watching my videos through like, subtitles and whatnot, closed
463 |462 |00:41:25 ~-~-> 00:41:37 |caption. They're thinking that so I'm so unsavory to do something like that on a
464 |463 |00:41:37 ~-~-> 00:41:43 |video or leave it in there, that would be it'd be atrocious. So that's the
465 |464 |00:41:43 ~-~-> 00:41:47 |reason why I'm bringing it out. I'm making sure I'm including it that way
466 |465 |00:41:47 ~-~-> 00:41:51 |for the folks that listen to these videos. They hear me talking in a
467 |466 |00:41:51 ~-~-> 00:41:54 |language you probably don't understand, but they're watching the subtitles. So
468 |467 |00:41:55 ~-~-> 00:41:58 |because they hear that sound, that sound is not in a specific language. It's my
469 |468 |00:41:58 ~-~-> 00:42:03 |puppy snoring. So that's why I'm making sure it's included here in the
470 |469 |00:42:03 ~-~-> 00:42:03 |discussion.
471 |470 |00:42:09 ~-~-> 00:42:16 |I've had people when I was in the middle of thought I'd be like, it would sound a
472 |471 |00:42:16 ~-~-> 00:42:20 |little funny. And they think Did you just belt or burp? And they you know,
473 |472 |00:42:20 ~-~-> 00:42:25 |they put a time stamp on it. I'm like, how can they think that's about or burn,
474 |473 |00:42:25 ~-~-> 00:42:29 |it's me just holding on to where I want to go with this. And sometimes I want to
475 |474 |00:42:29 ~-~-> 00:42:35 |say certain things. But then common sense kicks in says don't go there. So I
476 |475 |00:42:35 ~-~-> 00:42:39 |had to change the direction and what I'm going to say or deliver a specific
477 |476 |00:42:39 ~-~-> 00:42:42 |point, especially during live discussions
478 |477 |00:42:49 ~-~-> 00:42:55 |Alright, so we're coming up on just about 17 minutes till the opening bell
479 |478 |00:43:06 ~-~-> 00:43:08 |clean up this up, get this off here.
480 |479 |00:43:14 ~-~-> 00:43:19 |So while watching this, I'm gonna have these inefficiencies outlined from this
481 |480 |00:43:19 ~-~-> 00:43:28 |candles low, which is her here. This camp was high, that one single pass that
482 |481 |00:43:28 ~-~-> 00:43:32 |big candle right here. That is the fair value gap, that fair value gap because
483 |482 |00:43:32 ~-~-> 00:43:39 |it's an up close candle. Makes it a busy by side imbalance, sell side
484 |483 |00:43:39 ~-~-> 00:43:45 |inefficiency. We have since offered sell side. And I don't like the heaviness
485 |484 |00:43:45 ~-~-> 00:43:49 |that we're experiencing in here because it's spending way too much time at the
486 |485 |00:43:49 ~-~-> 00:43:55 |low end of that. I don't like that. It doesn't bode well for the setup. But I'm
487 |486 |00:43:55 ~-~-> 00:44:00 |going to commit to it for the basis of teaching the difficulties because it's
488 |487 |00:44:00 ~-~-> 00:44:04 |one thing for me to say I don't like to trade Non Farm Payroll. And for the
489 |488 |00:44:04 ~-~-> 00:44:09 |people that get out there and they over leverage, and they gamble, any guess and
490 |489 |00:44:09 ~-~-> 00:44:13 |they might live streaming or they maybe don't live stream. They don't show it to
491 |490 |00:44:13 ~-~-> 00:44:17 |live account. They don't show it to live data. You know for all those individuals
492 |491 |00:44:17 ~-~-> 00:44:20 |that say that and they always come after the fact. They always come after the
493 |492 |00:44:20 ~-~-> 00:44:25 |fact say, you know, I made money on this day and ICT doesn't trade on this day.
494 |493 |00:44:25 ~-~-> 00:44:28 |He tells you not to trade on Mondays I trade every Monday on that from payroll
495 |494 |00:44:28 ~-~-> 00:44:34 |week. I trade every single Monday on a Non Farm Payroll week. But I may not
496 |495 |00:44:34 ~-~-> 00:44:40 |trade a Monday on any other week. I'm comfortable with letting the market have
497 |496 |00:44:40 ~-~-> 00:44:44 |that. So see we had a close outside that shaded area. So because we had this one
498 |497 |00:44:44 ~-~-> 00:44:48 |single closed, it's inside this down close candle. So what I'm weighing out
499 |498 |00:44:48 ~-~-> 00:44:52 |is okay, well, it could still do what I would like to see it happen in move
500 |499 |00:44:52 ~-~-> 00:44:59 |higher. But the more time we spend drifting lower, the more likely that
501 |500 |00:44:59 ~-~-> 00:45:04 |they'll want to Take the 930, run, rip that low, then come back up here. That's
502 |501 |00:45:04 ~-~-> 00:45:08 |the that's the problem I'm facing with this trade right now. And that's what's
503 |502 |00:45:08 ~-~-> 00:45:11 |in my mind, that's what I'm concerned about, but not to the degree where it's
504 |503 |00:45:11 ~-~-> 00:45:14 |freaking me out or making me upset. And if it comes down and does that very
505 |504 |00:45:14 ~-~-> 00:45:19 |thing, I don't care. That's the wonderful thing about how taking
506 |505 |00:45:19 ~-~-> 00:45:23 |partials, knowing where and why you should take that partial, it frees your
507 |506 |00:45:23 ~-~-> 00:45:32 |mind up about needing to be what, right. That is power, that strength, partials
508 |507 |00:45:32 ~-~-> 00:45:36 |remove the necessity for you as the trader, whether you're advanced and
509 |508 |00:45:36 ~-~-> 00:45:40 |you've been dealing with for a long time, or you're new and are fledgling
510 |509 |00:45:40 ~-~-> 00:45:45 |student of price action, it removes that very, very difficult task of managing
511 |510 |00:45:45 ~-~-> 00:45:51 |the impulse to be correct to be right. Because I'm going to be honest with you,
512 |511 |00:45:51 ~-~-> 00:45:53 |I've said this many times before, and I learned this from Larry Williams that
513 |512 |00:45:53 ~-~-> 00:46:04 |coined it from many times, watching his four VHS tape series. You're never
514 |513 |00:46:04 ~-~-> 00:46:12 |right. In trading. You're never right. You're never ever, ever, ever, ever,
515 |514 |00:46:12 ~-~-> 00:46:18 |ever, right? You're either profitable or unprofitable. Now, how's that possible?
516 |515 |00:46:19 ~-~-> 00:46:23 |We surely you're right, if you make money? I guess so. But really are you?
517 |516 |00:46:23 ~-~-> 00:46:28 |Did you really buy as much as you really wanted to after the trade close, because
518 |517 |00:46:28 ~-~-> 00:46:32 |you're always going to say, if I just would have bought more shares, if I just
519 |518 |00:46:32 ~-~-> 00:46:37 |would have bought more contracts, if I would have just bought more lots. If I
520 |519 |00:46:37 ~-~-> 00:46:41 |just want to maximize the contract, they allow me to trade for my combine or my
521 |520 |00:46:41 ~-~-> 00:46:47 |funded account. If I just want to use the max leverage, I could have made this
522 |521 |00:46:47 ~-~-> 00:46:50 |much. So what are you saying? You weren't right. Even though you made
523 |522 |00:46:50 ~-~-> 00:46:55 |money? You're saying you weren't right? Because right is defined by you by doing
524 |523 |00:46:55 ~-~-> 00:47:01 |the most. And I'm telling you, that's a lie. That's toxic thinking. And that's
525 |524 |00:47:01 ~-~-> 00:47:06 |why that you're never going to be right. So you're objective in trying to be
526 |525 |00:47:06 ~-~-> 00:47:11 |right in your trades. That's a foolish errand and you can't do that it's
527 |526 |00:47:11 ~-~-> 00:47:16 |impossible for you to be right. Because even if you share your profitable trade
528 |527 |00:47:16 ~-~-> 00:47:20 |someone and I do it, people come into the comment section. And they'll say,
529 |528 |00:47:20 ~-~-> 00:47:24 |But why didn't you take profits here mighty profits there? That's your way of
530 |529 |00:47:24 ~-~-> 00:47:27 |doing it. But you're looking at it after it's happened? Why don't you show me
531 |530 |00:47:27 ~-~-> 00:47:31 |your trade where you did that? They're not doing that. So it's pointless to
532 |531 |00:47:31 ~-~-> 00:47:34 |have conversations about why didn't I do this? And why didn't because I didn't
533 |532 |00:47:34 ~-~-> 00:47:39 |trade it that way. Okay, when I'm doing a trade, and I'm explaining it to you,
534 |533 |00:47:39 ~-~-> 00:47:43 |and I'm showing you why I'm doing certain things. That's how I'm managing
535 |534 |00:47:43 ~-~-> 00:47:48 |that trade, based on my understanding my belief in how the market may behave, or
536 |535 |00:47:48 ~-~-> 00:47:54 |it shouldn't behave. I'm being responsible, I'm owning my own decision.
537 |536 |00:47:54 ~-~-> 00:47:58 |I'm not lending it out to someone else to critique it, and then learn from
538 |537 |00:47:58 ~-~-> 00:48:02 |their insight. I'm not here to learn from anybody. I already know what I'm
539 |538 |00:48:02 ~-~-> 00:48:10 |doing. And I'm comfortable with being not perfect. My results, you see them,
540 |539 |00:48:10 ~-~-> 00:48:14 |you see the results of my students, you see the growth in our community, in the
541 |540 |00:48:14 ~-~-> 00:48:18 |phenomenon that is Smart Money concepts, that it's global. Now it's viral, it's
542 |541 |00:48:18 ~-~-> 00:48:23 |everywhere, and really upsets a lot of people because it casts a very large
543 |542 |00:48:23 ~-~-> 00:48:28 |shadow, that they can't step outside up. Because we have students, you have a
544 |543 |00:48:28 ~-~-> 00:48:32 |mentor that can do this, that can explain it before it happens, do it in
545 |544 |00:48:32 ~-~-> 00:48:37 |great detail. And my students are able to learn that same skill set. And
546 |545 |00:48:39 ~-~-> 00:48:43 |unfortunately, it's created a very large body of witnesses that have testimonies
547 |546 |00:48:43 ~-~-> 00:48:47 |that are undeniable that it works, it works in their hands, they're trading
548 |547 |00:48:47 ~-~-> 00:48:51 |markets that I don't touch I won't even comment on and they're making money
549 |548 |00:48:51 ~-~-> 00:48:56 |using what they learned here on this YouTube channel. And that is inspiring.
550 |549 |00:48:56 ~-~-> 00:48:59 |It should be inspiring, it should not be a reason for you to go out and start
551 |550 |00:48:59 ~-~-> 00:49:05 |doing videos. Here's why ICT some concepts or Smart Money, concepts don't
552 |551 |00:49:05 ~-~-> 00:49:09 |work. And then not even teach it the way it's been taught or even referred to it
553 |552 |00:49:09 ~-~-> 00:49:13 |the way it's been taught. You can make videos saying that you failed using it
554 |553 |00:49:13 ~-~-> 00:49:16 |because you haven't spent enough time learning how to do it properly. That's
555 |554 |00:49:16 ~-~-> 00:49:19 |fine if you need clicks, okay, a lot of people put my name out there in their
556 |555 |00:49:19 ~-~-> 00:49:23 |YouTube videos just to get clicks. I get it things times are hard and groceries
557 |556 |00:49:23 ~-~-> 00:49:27 |are more expensive things are expensive. And you know my name sells right now.
558 |557 |00:49:28 ~-~-> 00:49:32 |But in trading, if you're in this industry to learn how to make money,
559 |558 |00:49:32 ~-~-> 00:49:36 |people don't have any time for all that nonsense. They're here to learn how to
560 |559 |00:49:36 ~-~-> 00:49:40 |trade. And if someone's not learning how to trade for me, they're not going to
561 |560 |00:49:40 ~-~-> 00:49:42 |spend time here. They're going to go on to somebody else that's going to be able
562 |561 |00:49:43 ~-~-> 00:49:47 |to help them and I'm telling you to do that very thing. This like I said
563 |562 |00:49:47 ~-~-> 00:49:52 |yesterday, in the YouTube video, I mentioned that if I'm not helping you
564 |563 |00:49:52 ~-~-> 00:49:56 |don't spend any time here. If I'm a distraction from something that you've
565 |564 |00:49:56 ~-~-> 00:50:00 |maybe you've already profitable, you have a model that works for you. You In,
566 |565 |00:50:00 ~-~-> 00:50:05 |I'm causing a great deal of confusion for you. And now you're having some
567 |566 |00:50:06 ~-~-> 00:50:14 |struggles. Don't listen to me. How hard is that? It's very easy. I don't have a
568 |567 |00:50:14 ~-~-> 00:50:19 |fragile ego, like I don't have a dependency on you loving me. But for the
569 |568 |00:50:19 ~-~-> 00:50:22 |folks that want to learn how to do this, it's been made available to you for
570 |569 |00:50:22 ~-~-> 00:50:27 |free, like I do spend time in and you don't have to come to this video, you
571 |570 |00:50:27 ~-~-> 00:50:32 |don't have to come to this YouTube channel, you can literally study what's
572 |571 |00:50:32 ~-~-> 00:50:36 |already been shown to you, the last few years, you never need to come back to
573 |572 |00:50:36 ~-~-> 00:50:41 |these videos. Because I've already taught it. It's there, it's already in
574 |573 |00:50:41 ~-~-> 00:50:44 |there, you've experienced it already. What's missing is that you haven't spent
575 |574 |00:50:44 ~-~-> 00:50:49 |time doing it back testing it, studying it. And going forward tests where you're
576 |575 |00:50:49 ~-~-> 00:50:53 |watching tape reading where you're not doing a trade. Okay? And again, this
577 |576 |00:50:53 ~-~-> 00:50:56 |sort of people all you know, show me your tape reading, okay, show me your
578 |577 |00:50:56 ~-~-> 00:51:00 |level two data at level two data is a gimmick, it's a bunch of bullshit. Okay,
579 |578 |00:51:00 ~-~-> 00:51:04 |let's be honest, it's bullshit. And it's the same thing as the depth of market
580 |579 |00:51:04 ~-~-> 00:51:10 |data, the Damn, it's all spoofed. You cannot spoof this candle being an
581 |580 |00:51:10 ~-~-> 00:51:14 |inefficiency. You cannot spoof this inefficiency down here in the four hour
582 |581 |00:51:14 ~-~-> 00:51:18 |range that I highlighted. You can't spoof the fact that that high rate there
583 |582 |00:51:18 ~-~-> 00:51:21 |had an price run move away from it. So there's going to be liquidity resting
584 |583 |00:51:21 ~-~-> 00:51:25 |mode that you need book map software program gimmick application to tell you
585 |584 |00:51:25 ~-~-> 00:51:29 |there's a stoploss out there or orders above that you need that I don't need
586 |585 |00:51:29 ~-~-> 00:51:34 |that. I don't need that. But in the beginning, it makes sense for you to be
587 |586 |00:51:34 ~-~-> 00:51:38 |able to see it visually with these crutches, these little aids, these these
588 |587 |00:51:38 ~-~-> 00:51:43 |helpers, but eventually, you're going to outgrow them. And you're not going to
589 |588 |00:51:43 ~-~-> 00:51:47 |have anything on your chart. All these things are on the chart. So that way,
590 |589 |00:51:47 ~-~-> 00:51:53 |you can see what I'm weighing in terms of concern, importance, what salient to
591 |590 |00:51:53 ~-~-> 00:52:00 |me in this price action, where it is my focus, lie inside of that what we're
592 |591 |00:52:00 ~-~-> 00:52:08 |having right now is price given to us. I do not have anything on my charts. When
593 |592 |00:52:08 ~-~-> 00:52:15 |I'm trading and I'm not trying to teach it, my charts look like this. That's it.
594 |593 |00:52:17 ~-~-> 00:52:22 |That's it, it's naked to me, on a notepad, I have the same levels that is
595 |594 |00:52:22 ~-~-> 00:52:26 |being indicated here. The high of The Four Hour, the low the four hour
596 |595 |00:52:26 ~-~-> 00:52:31 |ferrite, you got the high in the low in the midpoint of that inefficiency on the
597 |596 |00:52:31 ~-~-> 00:52:36 |lower timeframe we've literally did in front of you. I have these two levels.
598 |597 |00:52:36 ~-~-> 00:52:40 |Here. In the midpoint level, I'm written down on a notepad and what I'm
599 |598 |00:52:40 ~-~-> 00:52:43 |consciously doing, because I'm not trying to talk to anybody when I'm
600 |599 |00:52:43 ~-~-> 00:52:49 |trading. I'm looking at where price is every few minutes, every individual
601 |600 |00:52:49 ~-~-> 00:52:53 |Minute, I'm looking at other things in relationship to that. And those
602 |601 |00:52:53 ~-~-> 00:52:58 |measurements of how much time we're spending. How does it behave? Is it
603 |602 |00:52:58 ~-~-> 00:53:02 |respecting these levels, with the idea that I think we're going to go above
604 |603 |00:53:02 ~-~-> 00:53:09 |this high, this high end up in here, post 930. So when the market opens in
605 |604 |00:53:09 ~-~-> 00:53:13 |the New York session, opening bell rings and on CNBC, they're all clapping, like
606 |605 |00:53:13 ~-~-> 00:53:14 |they did something amazing.
607 |606 |00:53:15 ~-~-> 00:53:20 |And when that happens, that rush have liquidity, that order flow that comes
608 |607 |00:53:20 ~-~-> 00:53:24 |rushing in the marketplace, I believe that they're going to use all those
609 |608 |00:53:24 ~-~-> 00:53:29 |orders coming in. That is not buying and selling pressure. Because when that
610 |609 |00:53:29 ~-~-> 00:53:34 |liquidity is coming into the marketplace, when your stop loss gets
611 |610 |00:53:34 ~-~-> 00:53:40 |hit, that's the puppies rolling around in their kennel roll momentarily. When
612 |611 |00:53:40 ~-~-> 00:53:45 |that order flow comes in that rush and it hits a stop loss, when that stop loss
613 |612 |00:53:45 ~-~-> 00:53:51 |gets hit. If it's a sell stop, it is flooding the market with sell orders at
614 |613 |00:53:51 ~-~-> 00:53:58 |the market. whatever price you can give me and what the algorithm does, it uses
615 |614 |00:53:58 ~-~-> 00:54:03 |that constant rush of new orders coming in the marketplace to run up and reprice
616 |615 |00:54:03 ~-~-> 00:54:09 |to another pocket of liquidity here. By stops by stops by stops. Remember
617 |616 |00:54:11 ~-~-> 00:54:18 |relative equal highs here, and then over here. We have that high back there. So
618 |617 |00:54:18 ~-~-> 00:54:24 |they're gonna target that when opening bell rings at 930. That's my belief. If
619 |618 |00:54:24 ~-~-> 00:54:29 |I'm wrong, guess what? I mean money. Did you make money today? If you watch this
620 |619 |00:54:29 ~-~-> 00:54:33 |over the weekend, did you make money on Friday? See, I'm going to sweet position
621 |620 |00:54:33 ~-~-> 00:54:39 |right now. I don't need my trade to be right. I don't need to be right. I'm
622 |621 |00:54:39 ~-~-> 00:54:42 |right as rain as far as I'm concerned. It is straight up profitable for me
623 |622 |00:54:42 ~-~-> 00:54:46 |right now where I'm at and I don't need to be right and I don't have to be
624 |623 |00:54:46 ~-~-> 00:54:51 |afraid of being wrong. If this doesn't pan out and started me I'm uploading it
625 |624 |00:54:51 ~-~-> 00:54:58 |anyway. I don't I don't know how to make it any plainer than that. Like I have
626 |625 |00:54:58 ~-~-> 00:55:04 |zero emotion Zero emotion. If this fails and doesn't pan out like I want, it
627 |626 |00:55:04 ~-~-> 00:55:08 |doesn't mean that things that I know and trust won't work for me next Monday,
628 |627 |00:55:08 ~-~-> 00:55:11 |next Tuesday, next Wednesday, next Thursday, next Friday, it doesn't mean
629 |628 |00:55:11 ~-~-> 00:55:17 |that it won't work for me next May in 2024, it won't pan out for me in months
630 |629 |00:55:17 ~-~-> 00:55:21 |and years ahead. It's not going to change that. But see, when you're new,
631 |630 |00:55:22 ~-~-> 00:55:26 |you tend to think that way, if this trade doesn't pan out, I'm skipping over
632 |631 |00:55:26 ~-~-> 00:55:32 |SMC Smart Money, concepts, ICC stuff, it doesn't work. I'm going to skip over
633 |632 |00:55:32 ~-~-> 00:55:37 |this, because I can't make it work. So therefore, it doesn't work at all. And
634 |633 |00:55:37 ~-~-> 00:55:41 |you'll deny the ample evidence that it does, and people are making real money
635 |634 |00:55:41 ~-~-> 00:55:49 |with it undeniable evidence. So who really has a firm grasp on their
636 |635 |00:55:49 ~-~-> 00:55:56 |emotions here? I know I have. I'm bipolar. Yeah. But when it comes to
637 |636 |00:55:56 ~-~-> 00:56:00 |this, I'm very focused, I know exactly what I'm doing. But I can't be focused
638 |637 |00:56:00 ~-~-> 00:56:05 |if I'm in an environment where people can actively ask me questions while I'm
639 |638 |00:56:05 ~-~-> 00:56:12 |doing it. Because what does that do? It opens up this beautiful distraction,
640 |639 |00:56:12 ~-~-> 00:56:17 |where because of my experience, and my character, I can run rampant, and go
641 |640 |00:56:17 ~-~-> 00:56:24 |through all these different tangents. And because of my importance of making
642 |641 |00:56:24 ~-~-> 00:56:28 |sure that you understand anything I'm referring to I go overboard and trying
643 |642 |00:56:28 ~-~-> 00:56:36 |to make sure you understand to the, to a degree, that is just a testament that my
644 |643 |00:56:36 ~-~-> 00:56:42 |concern is, I want you to really know what I mean. Not just, yeah. The market
645 |644 |00:56:42 ~-~-> 00:56:48 |should go up to those stops up there at 4600. Okay, why? Why do you think that?
646 |645 |00:56:49 ~-~-> 00:56:52 |I'm glad you asked. Let me go through all of this. In New York, some of you
647 |646 |00:56:52 ~-~-> 00:56:56 |don't want to hear that. Because you just want to know, tell me how I can
648 |647 |00:56:56 ~-~-> 00:57:01 |easily just get to it's going to run the 45 98.75 high. Because if I can do that,
649 |648 |00:57:02 ~-~-> 00:57:06 |that's the bias. And I can make money wrong. Absolutely wrong. But you don't
650 |649 |00:57:06 ~-~-> 00:57:10 |want to hear that lesson. You don't hear that, that that truth from me. You don't
651 |650 |00:57:10 ~-~-> 00:57:13 |want to hear it, you reject it. Because it doesn't fit your underlying narrative
652 |651 |00:57:13 ~-~-> 00:57:18 |to what you believe how you should learn. You're coming to me with no
653 |652 |00:57:18 ~-~-> 00:57:21 |understanding about what it is I'm teaching. And you're going to tell me,
654 |653 |00:57:21 ~-~-> 00:57:25 |and many of you and many my paid students, which I don't have a paid
655 |654 |00:57:25 ~-~-> 00:57:29 |mentorship anymore, I will not be opening one in the future. If my books
656 |655 |00:57:29 ~-~-> 00:57:32 |sell like hotcakes, and it gets real popular because of the books. I'm not
657 |656 |00:57:32 ~-~-> 00:57:36 |going to do a mentorship where I'm charging people money for lessons like
658 |657 |00:57:36 ~-~-> 00:57:42 |that, again, I'm not doing that. Like I'm not trying to do anything except for
659 |658 |00:57:42 ~-~-> 00:57:48 |help you. That's it. That's all I'm trying to do. And many, many times
660 |659 |00:57:48 ~-~-> 00:57:54 |you're you're fighting me. No, I don't want your I don't want your free help. I
661 |660 |00:57:54 ~-~-> 00:57:58 |know how should be taught, I know how I should learn how to do this, when you
662 |661 |00:57:58 ~-~-> 00:58:01 |don't even know what it is you're trying to learn to how can you tell me as a
663 |662 |00:58:01 ~-~-> 00:58:06 |teacher, this is how you should teach me know, a real student is going to say,
664 |663 |00:58:06 ~-~-> 00:58:11 |I'm ready to be taught. What is it you have for me to learn today. And that let
665 |664 |00:58:11 ~-~-> 00:58:16 |experience dictate the pace and direction and where you go with it. But
666 |665 |00:58:16 ~-~-> 00:58:21 |in today's society, it doesn't that doesn't fit. It doesn't fit the mold. It
667 |666 |00:58:21 ~-~-> 00:58:25 |doesn't give the the comfort that's necessary for that. Give it to me right
668 |667 |00:58:25 ~-~-> 00:58:30 |now. And it's already too late. Crowd that that mindset of impatience
669 |668 |00:58:30 ~-~-> 00:58:35 |entitlement. It's rampant right now. And that's why I'm off of social media like
670 |669 |00:58:35 ~-~-> 00:58:38 |Twitter and stuff. You know, it's toxic. It's really toxic, because there's
671 |670 |00:58:38 ~-~-> 00:58:45 |people there that pretend to be smart. And they're idiots. bowls, and I don't
672 |671 |00:58:45 ~-~-> 00:58:48 |have time for that every year, I can be in my little bubble, I can talk if you
673 |672 |00:58:48 ~-~-> 00:58:50 |choose to come here and you came, you came here and by your own choice, I
674 |673 |00:58:50 ~-~-> 00:58:54 |didn't drag you over here, right. And you're watching these videos because you
675 |674 |00:58:54 ~-~-> 00:58:57 |want to listen to it. You want to learn the word, you want to take something
676 |675 |00:58:57 ~-~-> 00:59:03 |from it and you run in to your little circle of circle jerks and make fun of
677 |676 |00:59:03 ~-~-> 00:59:06 |something that you still don't understand or even come close to
678 |677 |00:59:06 ~-~-> 00:59:13 |replicating. So again, I will accommodate all manner of audience you
679 |678 |00:59:13 ~-~-> 00:59:18 |can come here to learn you can come here you feel like you're smart you know and
680 |679 |00:59:18 ~-~-> 00:59:22 |look at something and they'll go on social media and lie and said the same
681 |680 |00:59:22 ~-~-> 00:59:25 |tree that I did. Or you did something opposite when I was trying to do
682 |681 |00:59:25 ~-~-> 00:59:29 |something and said you made money but you're not really showing anything. I
683 |682 |00:59:29 ~-~-> 00:59:32 |don't have time for that. You shouldn't have any time for that. Okay, if you're
684 |683 |00:59:32 ~-~-> 00:59:35 |going to take the time to even post anything on social media at all. Here we
685 |684 |00:59:35 ~-~-> 00:59:42 |are an opening bell. Missy rip up into this, this in up here. So I'm gonna get
686 |685 |00:59:42 ~-~-> 00:59:55 |my orders ready because if it does me take this off and I want to just do
687 |686 |00:59:56 ~-~-> 01:00:03 |three above there and I want to do one and manually if at all, allow me if we
688 |687 |01:00:03 ~-~-> 01:00:07 |get above here, so these are relatively equal lows. So I'm looking at that
689 |688 |01:00:07 ~-~-> 01:00:11 |suddenly putting up here visually. So I'm watching if price goes up into that
690 |689 |01:00:11 ~-~-> 01:00:13 |level here and goes above it, I'm going to close one.
691 |690 |01:00:19 ~-~-> 01:00:29 |Piper, hey, I'm sorry, let's go. Alright, so far, so good, I want to see
692 |691 |01:00:29 ~-~-> 01:00:37 |it really accelerate, reaching into that area here. So if I close one above this
693 |692 |01:00:37 ~-~-> 01:00:41 |area hereby site is, then if it gets up to here and takes that limit order
694 |693 |01:00:41 ~-~-> 01:00:46 |there, that will give me two remaining contracts that I'll treat as a runner.
695 |694 |01:00:46 ~-~-> 01:00:51 |And if it can get up here, I'm going to place my stop loss rate at the high of
696 |695 |01:00:51 ~-~-> 01:00:55 |the, for our fair Vega, so it's not gonna be much of a change. But I do want
697 |696 |01:00:55 ~-~-> 01:00:59 |to have a little bit more protected on the balance of the two contracts, what's
698 |697 |01:00:59 ~-~-> 01:01:01 |more, they won't make a difference in the grand scheme of things.
699 |698 |01:01:12 ~-~-> 01:01:17 |Now, I want you to think about the mindset of who was hopeful and being
700 |699 |01:01:17 ~-~-> 01:01:23 |profitable this morning, they set the trap that it was going lower than it
701 |700 |01:01:23 ~-~-> 01:01:27 |really dropped down here. The mindset is, okay, the markets weak, it's
702 |701 |01:01:27 ~-~-> 01:01:31 |probably gonna keep going lower. And I don't want to subscribe to that view, I
703 |702 |01:01:31 ~-~-> 01:01:39 |want to see where they left traders feeling safe. These stops here, that
704 |703 |01:01:39 ~-~-> 01:01:44 |have been trailed from here to here. For those investors that were short from up
705 |704 |01:01:44 ~-~-> 01:01:47 |in here, that have their stop loss here, or felt like they had to place their
706 |705 |01:01:47 ~-~-> 01:01:57 |stop above that board, I back here. Back here, okay. So that's what I'm
707 |706 |01:01:57 ~-~-> 01:02:03 |attacking, I'm targeting that. And I'm running against the logic of a retail
708 |707 |01:02:03 ~-~-> 01:02:08 |trader that is, hopefully, you know, wanting to see lower prices. And they're
709 |708 |01:02:08 ~-~-> 01:02:14 |trying to be responsible with their account and using stock orders, which in
710 |709 |01:02:14 ~-~-> 01:02:20 |this case, is going to be their undoing. If I'm correct in my trade, and it pans
711 |710 |01:02:20 ~-~-> 01:02:24 |out like I want to, but I don't need it to That's the wonderful thing. Like
712 |711 |01:02:24 ~-~-> 01:02:29 |that's a wonderful place to be in your trading where you don't need it to do
713 |712 |01:02:29 ~-~-> 01:02:33 |this. But if it does, wow, what a feeling because it profits, and it's an
714 |713 |01:02:33 ~-~-> 01:02:37 |encouragement to you. But you don't have any of the negative components that come
715 |714 |01:02:37 ~-~-> 01:02:42 |along with, I needed to be right. Because to be right means in your mind,
716 |715 |01:02:43 ~-~-> 01:02:47 |you have to be right to be profitable, I can be profitable and not right. Think
717 |716 |01:02:47 ~-~-> 01:02:53 |about that. How's that for logic. And that's what really, I believe that
718 |717 |01:02:54 ~-~-> 01:02:58 |traders should focus there. And professional trader traders. That's what
719 |718 |01:02:58 ~-~-> 01:03:01 |that's how they operate. They operate in probabilities that allows them to be
720 |719 |01:03:01 ~-~-> 01:03:05 |profitable, and they leave their ego at the door. They don't care about being
721 |720 |01:03:05 ~-~-> 01:03:08 |right. They don't care about having the better feel than the other guy. They
722 |721 |01:03:08 ~-~-> 01:03:13 |don't care about. Anything except for did they make their ends meet? Are they
723 |722 |01:03:13 ~-~-> 01:03:16 |making more money? Did they protect what they have or be preserving capital,
724 |723 |01:03:16 ~-~-> 01:03:20 |which is number one rule. Number one we're winning the game is to preserve
725 |724 |01:03:20 ~-~-> 01:03:24 |capital. And that was the whole premise of how I traded so far this morning, is
726 |725 |01:03:24 ~-~-> 01:03:28 |I allowed the market to pay me there's no way that this trade can come back
727 |726 |01:03:28 ~-~-> 01:03:31 |against me and I can lose money on it. There's not there's not it's not going
728 |727 |01:03:31 ~-~-> 01:03:37 |to happen. I shouldn't say that there is a way for it to happen. If it were to be
729 |728 |01:03:37 ~-~-> 01:03:40 |here, right here at this moment and they drop a nuclear bomb somewhere and in the
730 |729 |01:03:40 ~-~-> 01:03:44 |market is gaps all the way down 100 points, then that would be a losing day.
731 |730 |01:03:45 ~-~-> 01:03:49 |But that's the inherent risks that you are associated with trading. When you
732 |731 |01:03:49 ~-~-> 01:03:52 |sign up to your account, when you put real money into a brokerage account.
733 |732 |01:03:53 ~-~-> 01:03:56 |You're basically saying as long as there's liquidity, we'll we'll try to
734 |733 |01:03:56 ~-~-> 01:03:59 |get out. But there's no guarantee. And there's no guarantee you're going to get
735 |734 |01:03:59 ~-~-> 01:04:04 |the price that you are hoping for, you might get a price that slips you
736 |735 |01:04:04 ~-~-> 01:04:10 |horribly. Barring that event, there's no way that this can turn into a negative
737 |736 |01:04:10 ~-~-> 01:04:15 |day for me. And that is a rare, very reassuring and comforting feeling. As a
738 |737 |01:04:15 ~-~-> 01:04:20 |trader, it frees you up to just sit back and trust what your model should be
739 |738 |01:04:20 ~-~-> 01:04:24 |doing. And if it doesn't pan out, it's not going to cause you to squirm.
740 |739 |01:04:24 ~-~-> 01:04:28 |Whereas if you've taken nothing out of the trade, if you take nothing out of
741 |740 |01:04:28 ~-~-> 01:04:32 |the trade you've taken no partial. You're hoping and praying please start
742 |741 |01:04:32 ~-~-> 01:04:37 |moving in my favor. Please start doing the touch that right there. Now I want
743 |742 |01:04:37 ~-~-> 01:04:40 |to see it, do a little bit of that and then repeat. That's what I want. I don't
744 |743 |01:04:40 ~-~-> 01:04:49 |want to see it close below the midpoint of that fair value gotten here. So it's
745 |744 |01:04:49 ~-~-> 01:04:53 |really important that you you guard your mind and you learn things that help you
746 |745 |01:04:54 ~-~-> 01:04:58 |understand how you behave and how you think about the market while you're in a
747 |746 |01:04:58 ~-~-> 01:05:03 |trade. It's Many times, it's the very things that you are ignoring about
748 |747 |01:05:03 ~-~-> 01:05:07 |yourself, that you keep repeating, that are going to be toxic to your
749 |748 |01:05:07 ~-~-> 01:05:12 |development. There are hindrances to you. And you don't realize it. You think
750 |749 |01:05:12 ~-~-> 01:05:15 |by pretending that it's not there or blocking it out. And in lying to
751 |750 |01:05:15 ~-~-> 01:05:19 |yourself, Well, I was right about this. I'm right about that. But you're not
752 |751 |01:05:19 ~-~-> 01:05:22 |addressing or at least identifying the things that are holding you back that
753 |752 |01:05:22 ~-~-> 01:05:26 |are problematic. The toxic thinking the what if thinking, what if it turns
754 |753 |01:05:26 ~-~-> 01:05:30 |around, I lose on this trade? Okay, that's the same thing as what happens if
755 |754 |01:05:30 ~-~-> 01:05:34 |you start to drive to work tomorrow. I shouldn't say tomorrow is Saturday or
756 |755 |01:05:34 ~-~-> 01:05:38 |something you work on Saturday, right? The next day, you go to work, you get in
757 |756 |01:05:38 ~-~-> 01:05:41 |your car, you get in your car, you start the car, and you think, oh, what happens
758 |757 |01:05:41 ~-~-> 01:05:44 |if I get a flat tire? Well, what are you going to do with it, you're just going
759 |758 |01:05:44 ~-~-> 01:05:47 |to leave the car on the side of the road and abandon it because he's got a flat
760 |759 |01:05:47 ~-~-> 01:05:50 |tire, now you're going to take care of it, you're going to address it, you're
761 |760 |01:05:50 ~-~-> 01:05:53 |going to lose some time, you're going to get late to work, you're going to lose
762 |761 |01:05:53 ~-~-> 01:05:56 |some wages, you're going to spend money that you don't enjoy spending, it's a
763 |762 |01:05:56 ~-~-> 01:06:00 |cost. It's a hindrance, but life still gonna go on, you're gonna still trust
764 |763 |01:06:00 ~-~-> 01:06:04 |the motto of getting up starting your car driving to work going there and
765 |764 |01:06:04 ~-~-> 01:06:08 |exchanging your time for money. So that way you can meet your bills, right? So
766 |765 |01:06:08 ~-~-> 01:06:12 |trading needs to be the same way. You need to be able to say, okay, my trade
767 |766 |01:06:12 ~-~-> 01:06:16 |that I'm in right now, if it doesn't pan out, it doesn't change my model, I'm
768 |767 |01:06:16 ~-~-> 01:06:19 |still going to do these things. I'm going to manage risk the same way. I'm
769 |768 |01:06:19 ~-~-> 01:06:24 |not going to over leverage. Do you everyday go to work speeding 120 mile an
770 |769 |01:06:24 ~-~-> 01:06:30 |hour? No. Now, you might do it once in a while when you're really really late.
771 |770 |01:06:30 ~-~-> 01:06:35 |But we're spirit a small period of time. But that's it's exaggerated risk. What
772 |771 |01:06:35 ~-~-> 01:06:39 |is it risking it's risking your life, your property, other people's property
773 |772 |01:06:39 ~-~-> 01:06:43 |and their health and their life. And it's risking you what a ticket,
774 |773 |01:06:44 ~-~-> 01:06:49 |potentially jail time because you're speeding excessively. And all of that is
775 |774 |01:06:49 ~-~-> 01:06:52 |excessive risk. So the same thing in your training, you don't go in there,
776 |775 |01:06:52 ~-~-> 01:06:56 |just because top staff or another company out there says hey, I'm going to
777 |776 |01:06:56 ~-~-> 01:07:02 |allow you to trade 15 contracts in your combine, it doesn't mean do it. Just
778 |777 |01:07:02 ~-~-> 01:07:06 |because your odometer says you can do 100 miles an hour doesn't mean that
779 |778 |01:07:06 ~-~-> 01:07:09 |you're on a road that you should be doing it on. There's risks to doing
780 |779 |01:07:09 ~-~-> 01:07:15 |that. So being able to manage your expectations, manage yourself, manage
781 |780 |01:07:15 ~-~-> 01:07:21 |how you behave. I'm looking at this candlestick right here, inside of that
782 |781 |01:07:21 ~-~-> 01:07:32 |fear Vega right there. Like to see it, respect that and start to sending it
783 |782 |01:07:32 ~-~-> 01:07:38 |higher. Spending a lot of time in this area here. I'm not. I'm not overzealous
784 |783 |01:07:38 ~-~-> 01:07:43 |about why it's spending so much time that consolidation
785 |784 |01:07:48 ~-~-> 01:07:51 |lost my train thought about what I was saying. But main thing is, is you just
786 |785 |01:07:51 ~-~-> 01:07:58 |want to be able to remove the necessity about being right. Okay, using the same
787 |786 |01:07:58 ~-~-> 01:08:05 |analogy of driving to work. What happens if you get in your car. And before you
788 |787 |01:08:05 ~-~-> 01:08:09 |start the car off and you think yourself what happens if my battery died? Well,
789 |788 |01:08:09 ~-~-> 01:08:12 |you're gonna get a hotshot, you're gonna get someone to give you a jump, or
790 |789 |01:08:12 ~-~-> 01:08:16 |you're gonna have to go some way to get to a store to buy a battery to replace
791 |790 |01:08:16 ~-~-> 01:08:20 |it, and then go back to doing what you're doing. It's an exchange for your
792 |791 |01:08:20 ~-~-> 01:08:26 |time. It's a nuisance, it's not fun. It's not pleasurable, it's an expense
793 |792 |01:08:26 ~-~-> 01:08:29 |that you would rather not be spending. But that's how trading is sometimes too.
794 |793 |01:08:30 ~-~-> 01:08:34 |But when you are a new trader, you're thinking, I gotta find a way to avoid
795 |794 |01:08:34 ~-~-> 01:08:39 |losing. What are you really saying about yourself, you have a character flaw that
796 |795 |01:08:39 ~-~-> 01:08:44 |you can't accept imperfection. When professional traders embrace
797 |796 |01:08:44 ~-~-> 01:08:50 |imperfection. We embrace it, we know that we can't be perfect. So therefore
798 |797 |01:08:50 ~-~-> 01:08:55 |Our strength is our acceptance of the uncertainty. This hard right edge over
799 |798 |01:08:55 ~-~-> 01:09:00 |here, where no one knows what the next candle is going to do. I'm comfortable
800 |799 |01:09:00 ~-~-> 01:09:05 |in that area. I'm real comfortable with it. As a new trader, it's scary. It's
801 |800 |01:09:05 ~-~-> 01:09:09 |uncharted territory. And there's mythological beasts and monsters and sea
802 |801 |01:09:09 ~-~-> 01:09:14 |creatures out there is going to take you under and drown you devalue. I was there
803 |802 |01:09:14 ~-~-> 01:09:18 |before I know what that feels like. But I'm also you that same person that says,
804 |803 |01:09:19 ~-~-> 01:09:25 |yeah, if I get out there, and I go, and deep sea dive in shark infested waters,
805 |804 |01:09:25 ~-~-> 01:09:34 |I run the risk of getting bitten, yes. But if I follow a model, and I stay in a
806 |805 |01:09:34 ~-~-> 01:09:40 |close proximity to the boat, I'm in a cage and that bleeding and that putting
807 |806 |01:09:40 ~-~-> 01:09:46 |chum in the water, those chances are far less likely. And I could still encounter
808 |807 |01:09:46 ~-~-> 01:09:51 |these beautiful creatures that God's created. So there's a measure of
809 |808 |01:09:51 ~-~-> 01:09:56 |managing the risks. Okay. So that's what trading should be about. And it's it's
810 |809 |01:09:56 ~-~-> 01:10:02 |fun when you are able to control the risk keep it manageable. And then by
811 |810 |01:10:02 ~-~-> 01:10:09 |doing that, that association of managing risk appropriately, allows you to enjoy
812 |811 |01:10:09 ~-~-> 01:10:14 |the experience of trading. It's fun, where it's not a terribly a frightening
813 |812 |01:10:14 ~-~-> 01:10:20 |experience for a new trader. an inexperienced trader trading is very,
814 |813 |01:10:20 ~-~-> 01:10:24 |very scary. Because of what you're thinking, you have all this toxic What
815 |814 |01:10:24 ~-~-> 01:10:30 |if this doesn't work? What if I do this wrong? What if? What if? What if? What
816 |815 |01:10:30 ~-~-> 01:10:35 |if is a waste of time? Because majority of what you're dealing with the what if
817 |816 |01:10:35 ~-~-> 01:10:40 |scenario is negative? It's rooted in negativity? What if this doesn't work
818 |817 |01:10:40 ~-~-> 01:10:44 |out for me? What if I don't make any money? What if I wasted all this time
819 |818 |01:10:44 ~-~-> 01:10:47 |watching these videos? What if I've wasted time believing something that
820 |819 |01:10:47 ~-~-> 01:10:52 |isn't really happening? What if it's all a scam? What if all these people were
821 |820 |01:10:52 ~-~-> 01:10:56 |paid actors and they don't really make money? That's all that one too. It's,
822 |821 |01:10:56 ~-~-> 01:11:01 |it's funny, right? It's ridiculous. But what happens if you just really put the
823 |822 |01:11:01 ~-~-> 01:11:06 |effort forward? And you just simply made your best attempt to do this and you
824 |823 |01:11:06 ~-~-> 01:11:10 |fell in love with it? And it started working for you? What if it happens like
825 |824 |01:11:10 ~-~-> 01:11:15 |that? Think about all the time you wasted not doing it. Think about that.
826 |825 |01:11:16 ~-~-> 01:11:19 |What about all those opportunities where you could have been doing this stuff
827 |826 |01:11:19 ~-~-> 01:11:24 |sooner? That's what I try to instill in all of my students minds, I want them to
828 |827 |01:11:24 ~-~-> 01:11:29 |think about the opportunities of how this may impact your life positively.
829 |828 |01:11:30 ~-~-> 01:11:33 |I'm not promising you're gonna get rich folks, I'm not I'm not saying that at
830 |829 |01:11:33 ~-~-> 01:11:37 |all. But I am saying that you will know how to read price action, and you will
831 |830 |01:11:37 ~-~-> 01:11:40 |do it better than anyone else is going to be able to teach you in a book course
832 |831 |01:11:40 ~-~-> 01:11:45 |or whatnot. It's more predictable. It's not ambiguous. It's something that is
833 |832 |01:11:45 ~-~-> 01:11:50 |transferable knowledge. And it is fun, when you really learn how to do this.
834 |833 |01:11:50 ~-~-> 01:11:55 |It's fun. And you can turn it into whatever you want to turn it into. You
835 |834 |01:11:55 ~-~-> 01:12:01 |want to get wealthy, there's lots of ways to turn this into a wealthy income
836 |835 |01:12:01 ~-~-> 01:12:05 |stream, through your trades that are profitable, you let time and money
837 |836 |01:12:05 ~-~-> 01:12:09 |management and the money management aspects, do all the heavy lifting,
838 |837 |01:12:09 ~-~-> 01:12:15 |compound interest and let time do that. But in the beginning, as a new trader,
839 |838 |01:12:15 ~-~-> 01:12:20 |time is a commodity that you don't have a lot of in your mind, when you have to
840 |839 |01:12:20 ~-~-> 01:12:23 |submit to the fact that you have whatever time you have left. It's it.
841 |840 |01:12:24 ~-~-> 01:12:28 |however long you're here until you're taken out of this world, that's how much
842 |841 |01:12:28 ~-~-> 01:12:31 |time you have. And nobody knows that. And I'm not saying that that should
843 |842 |01:12:31 ~-~-> 01:12:35 |speed up this urgency that you need to learn how to do it real quick, because
844 |843 |01:12:35 ~-~-> 01:12:39 |the urgency of trying to learn how to do it real quick. That unfortunately is a
845 |844 |01:12:39 ~-~-> 01:12:43 |problem. And it causes people to want to rush, they want to get through it too
846 |845 |01:12:43 ~-~-> 01:12:48 |fast, without really learning what it is that they should have learned. Two
847 |846 |01:12:48 ~-~-> 01:12:52 |things are about to happen. If it pans out. If it goes above this swing high,
848 |847 |01:12:52 ~-~-> 01:12:57 |as I mentioned before, there's buyside above that, and if it trades into that
849 |848 |01:13:03 ~-~-> 01:13:12 |top so if it trades above that high, I'm going to close I'm actually going to do
850 |849 |01:13:14 ~-~-> 01:13:22 |three, I'm gonna do three and then if it runs at this one here, I'll be I'll be
851 |850 |01:13:22 ~-~-> 01:13:26 |done for the day. Because it's a little late in the morning and my wife this
852 |851 |01:13:26 ~-~-> 01:13:35 |gave me the Harry I will have this satisfied with that. But doing your the
853 |852 |01:13:35 ~-~-> 01:13:39 |bird that comes every morning around the same time, and sit down sits out there
854 |853 |01:13:39 ~-~-> 01:13:46 |on my deck and starts chirping. But it's so fun, you know, seeing how students do
855 |854 |01:13:46 ~-~-> 01:13:51 |the very things I encourage them to do. And the two things I was going to do is
856 |855 |01:13:51 ~-~-> 01:13:56 |I'm gonna take profit here, above that 93 and a half level should offer it to
857 |856 |01:13:56 ~-~-> 01:14:00 |me. And let me just do it this way because it might pull some shenanigans
858 |857 |01:14:00 ~-~-> 01:14:06 |on me. Alright, so that way I limit orders there so it goes above it'll fill
859 |858 |01:14:06 ~-~-> 01:14:12 |me hopefully, and then it does that then I'm gonna roll the stop up to just half
860 |859 |01:14:12 ~-~-> 01:14:13 |of this wick is here
861 |860 |01:14:19 ~-~-> 01:14:25 |I will roll the stop just below to 4577 even which is below consequent
862 |861 |01:14:25 ~-~-> 01:14:30 |parchment. Okay. That's what's going to happen. Three contracts will come off.
863 |862 |01:14:30 ~-~-> 01:14:33 |Three will be left here. Also, if it really ramps up there. They'll
864 |863 |01:14:33 ~-~-> 01:14:37 |completely close out the trade and now we'll have one more opportunity to be
865 |864 |01:14:37 ~-~-> 01:14:42 |able to prance around the house like Mick Jagger and tell my wife. I told him
866 |865 |01:14:42 ~-~-> 01:14:45 |so. I told him so.
867 |866 |01:14:50 ~-~-> 01:15:00 |Scout. Hey, Scout. It's almost time honey relax, wants to get out bear with
868 |867 |01:15:00 ~-~-> 01:15:03 |me a second. These are all the things that usually get edited out of the video
869 |868 |01:15:03 ~-~-> 01:15:07 |about the stolen stuff anymore and getting it wrong
870 |869 |01:15:32 ~-~-> 01:15:36 |these are, these are times as a new trader, not really in front of my
871 |870 |01:15:36 ~-~-> 01:15:40 |laptop. So the price didn't pick me up on volume. But these are the times where
872 |871 |01:15:40 ~-~-> 01:15:44 |traders get nervous, they get scared like, Oh no, it's going back against me
873 |872 |01:15:44 ~-~-> 01:15:48 |just, it's pulling back inside of this range expansion, which if this candle
874 |873 |01:15:48 ~-~-> 01:15:52 |closes becomes a fair value gap, I would want to see that stay open. If this
875 |874 |01:15:52 ~-~-> 01:15:57 |candle closes, I don't want to see it. All young re visit a reprice back to
876 |875 |01:15:57 ~-~-> 01:16:00 |that candles Hi, I don't want to see that. There's liquidity here. There's
877 |876 |01:16:00 ~-~-> 01:16:05 |liquidity here. It's in striking distance. And it is opposed to the
878 |877 |01:16:05 ~-~-> 01:16:08 |underlying sentiment that's been engineered this morning where it's going
879 |878 |01:16:08 ~-~-> 01:16:11 |to go lower, they cancelled out any opportunity for those people that were
880 |879 |01:16:11 ~-~-> 01:16:14 |trying to be short to be profitable. See that mentioned that earlier in this
881 |880 |01:16:14 ~-~-> 01:16:23 |recording. So I'm trusting I'm trusting the arm one side, one side means that
882 |881 |01:16:23 ~-~-> 01:16:29 |it's going to run for the liquidity I'm targeting. I apologize if you hear
883 |882 |01:16:29 ~-~-> 01:16:32 |crunching in the background. She's eating a chicken foot and give them to
884 |883 |01:16:32 ~-~-> 01:16:39 |them once a day. And I think she's demand she was demanding it basically
885 |884 |01:16:39 ~-~-> 01:16:42 |that she wants to get out run around. She's in a kennel right now. Because if
886 |885 |01:16:42 ~-~-> 01:16:45 |I don't put her in a kennel, she'll be crawling up and jumping on my lap and
887 |886 |01:16:45 ~-~-> 01:16:49 |licking me in the face. And it'd be much more distracting. And I probably
888 |887 |01:16:49 ~-~-> 01:16:52 |wouldn't have been able to stay on track as much as I have been here even though
889 |888 |01:16:52 ~-~-> 01:16:56 |some of you may think that this guy is all over the place. And I'm doing
890 |889 |01:16:56 ~-~-> 01:17:00 |actually pretty good compared to what I've done in the past, it's to work
891 |890 |01:17:00 ~-~-> 01:17:06 |better focus, I've been enjoying my time, my time away from social media,
892 |891 |01:17:06 ~-~-> 01:17:12 |then away from Twitter. I miss engaging all of you. Obviously, you can see that
893 |892 |01:17:12 ~-~-> 01:17:18 |by me doing this. But it just it's nice not seeing all the other stuff that
894 |893 |01:17:18 ~-~-> 01:17:23 |social media constantly posts outside of trading is it constantly keep you
895 |894 |01:17:24 ~-~-> 01:17:31 |depressed, ain't got time for it. Alright, so again, we've been working on
896 |895 |01:17:31 ~-~-> 01:17:37 |a five minute chart. So I don't want to come off of the five minute chart. But
897 |896 |01:17:37 ~-~-> 01:17:42 |when this trade hopefully pans out, it gives me at least a 45 minute three and
898 |897 |01:17:42 ~-~-> 01:17:48 |a half. Phil, then I'll drop down to a limit chart and give you the the view or
899 |898 |01:17:48 ~-~-> 01:17:53 |the lay of the land, if you will, on what the one minute chart looks like. I
900 |899 |01:17:53 ~-~-> 01:17:57 |have forced myself to only use the chart that I'm showing you here. I'm
901 |900 |01:17:57 ~-~-> 01:18:03 |downstairs in my I guess it's called the great room. My trading room is upstairs,
902 |901 |01:18:03 ~-~-> 01:18:07 |where we have all the monitors and stuff. I've only used what I'm showing
903 |902 |01:18:07 ~-~-> 01:18:10 |you on the laptop. Okay, so everything the perspective I've had on the
904 |903 |01:18:10 ~-~-> 01:18:15 |marketplace, was limited to just what you have seen in this video. I've not
905 |904 |01:18:15 ~-~-> 01:18:18 |looked at anything else, I promise you in Jesus name, there's been nothing
906 |905 |01:18:18 ~-~-> 01:18:23 |else. There's no added advantages of any other timeframes. Everything was based
907 |906 |01:18:23 ~-~-> 01:18:26 |on what I'm showing you here. So that way for the folks are saying, you know,
908 |907 |01:18:26 ~-~-> 01:18:29 |I see you have that big setup, you know, and that's the reason why you're
909 |908 |01:18:29 ~-~-> 01:18:37 |profitable. No, no, those things helped me. But they are not requirements. You
910 |909 |01:18:37 ~-~-> 01:18:41 |can literally do this with one laptop and not have anything but one screen.
911 |910 |01:18:41 ~-~-> 01:18:45 |You don't need to divide it up either. You don't have to have all the windows
912 |911 |01:18:45 ~-~-> 01:18:48 |segregated, showing you different multiple timeframes. If you know what
913 |912 |01:18:48 ~-~-> 01:18:53 |you're looking for, you simplify your model. And I've, in my opinion, I've
914 |913 |01:18:53 ~-~-> 01:18:57 |simplified the things I've taught on this channel, again here on one of the
915 |914 |01:18:57 ~-~-> 01:19:03 |most complex, difficult trading days by my own description and definition. Non
916 |915 |01:19:03 ~-~-> 01:19:08 |Farm Payroll Fridays, are difficult trading days because they're highly
917 |916 |01:19:08 ~-~-> 01:19:14 |manipulated. Meaning that what you might anticipate in any given day, they may
918 |917 |01:19:14 ~-~-> 01:19:19 |deny you. They mean they may not allow me to at 9350 exit. They may not allow
919 |918 |01:19:19 ~-~-> 01:19:22 |me to get any more profit. They make this Senate lower and take the stop and
920 |919 |01:19:22 ~-~-> 01:19:27 |that's it. I don't care if it happens because I've done enough. But for some
921 |920 |01:19:27 ~-~-> 01:19:32 |of you, it might not seem like a victory feels like oh, that was a failure. It
922 |921 |01:19:32 ~-~-> 01:19:35 |didn't work like you said it was going to so therefore Smart Money concepts
923 |922 |01:19:35 ~-~-> 01:19:39 |don't work. Oh, that's flawed logic. You're still gonna be working next week.
924 |923 |01:19:39 ~-~-> 01:19:43 |So I mean, that's, that's the reason why you should be learning how to trade is
925 |924 |01:19:43 ~-~-> 01:19:47 |that way you don't need to go to work next week. You don't need to get that
926 |925 |01:19:47 ~-~-> 01:19:50 |paycheck that they're going to give you for prostituting your time.
927 |926 |01:20:00 ~-~-> 01:20:07 |We're going to take the better golfer Rhinelander
928 |927 |01:20:13 ~-~-> 01:20:17 |my wife doesn't like to take rides in the back because I get a little, a
929 |928 |01:20:17 ~-~-> 01:20:21 |little heavy on the acceleration pedal. No all the time, but just sometimes,
930 |929 |01:20:21 ~-~-> 01:20:30 |because of the the torque and pushing into the chair, it makes you think two
931 |930 |01:20:30 ~-~-> 01:20:35 |years ago we were, we were driving in some nut job cut in front of me
932 |931 |01:20:35 ~-~-> 01:20:44 |basically here to ODU driving a car economic vehicle, electric thing cut in
933 |932 |01:20:44 ~-~-> 01:20:53 |front of me new signal, whatnot. I just wanted to fly by and I was like, No,
934 |933 |01:20:54 ~-~-> 01:20:59 |don't do that. Why are you doing this man? I just wanted the buzzer. Like Top
935 |934 |01:20:59 ~-~-> 01:21:02 |Gun, you know, in the same way, say you mean buzzer tower. Yeah, I'm with the
936 |935 |01:21:02 ~-~-> 01:21:07 |buzzer him. So now I'm looking at the consequent correction and that wick
937 |936 |01:21:07 ~-~-> 01:21:14 |right here. So I want to see that just reach into that or just above it and
938 |937 |01:21:14 ~-~-> 01:21:18 |then run for that liquidity. You can go down here and wick below it, I just
939 |938 |01:21:18 ~-~-> 01:21:19 |don't want to see it close below it
940 |939 |01:21:31 ~-~-> 01:21:37 |you can clearly see how all this becomes a lot more confusing. And having too
941 |940 |01:21:37 ~-~-> 01:21:40 |many things on your chart. That's why I don't have it, but I'm showing you
942 |941 |01:21:40 ~-~-> 01:21:43 |visually. So hopefully you can appreciate what I'm doing here because
943 |942 |01:21:44 ~-~-> 01:21:50 |this is a terrible distraction to me. But I'm showing you from a conceptual
944 |943 |01:21:50 ~-~-> 01:21:54 |perspective, what in my mind, I'm concerning myself with and focusing on.
945 |944 |01:21:55 ~-~-> 01:22:02 |It's that very level right there. Okay, and I apologize if you can hear my dog
946 |945 |01:22:02 ~-~-> 01:22:10 |chewing up for chicken foot, but that's what they say in the real world is. You
947 |946 |01:22:10 ~-~-> 01:22:14 |know, I'm a human being I got puppies. You know, I love them. They're part of
948 |947 |01:22:14 ~-~-> 01:22:20 |my family. And if I'm not in their sight, they will freak out and cry. You
949 |948 |01:22:20 ~-~-> 01:22:27 |barking the hype and go on and on. And life is very jealous of that by the way.
950 |949 |01:22:28 ~-~-> 01:22:32 |I do everything for him and they love you most. That's because I'm ICT baby.
951 |950 |01:22:35 ~-~-> 01:22:45 |Yeah, yeah. I only pretend to be full of myself when the internet Trust me, I
952 |951 |01:22:45 ~-~-> 01:22:48 |don't feel that way about myself. In reality, I just deal with the rest of
953 |952 |01:22:48 ~-~-> 01:22:53 |people that don't like me. And you know, you are Mr watching my video but don't
954 |953 |01:22:53 ~-~-> 01:22:53 |like
955 |954 |01:23:01 ~-~-> 01:23:07 |it. Alright, so I have to submit myself to the willingness of letting it go into
956 |955 |01:23:07 ~-~-> 01:23:10 |this fair pay gap, which is what I didn't want to see it do, I don't want
957 |956 |01:23:10 ~-~-> 01:23:12 |to see it come around saying I don't want to see it come back or we do that
958 |957 |01:23:12 ~-~-> 01:23:16 |candle. So I have to submit myself to the idea that it may need to do that
959 |958 |01:23:16 ~-~-> 01:23:20 |very thing here. It's completely permissible. It's better if it doesn't
960 |959 |01:23:20 ~-~-> 01:23:24 |completely close it, the trades where it's here and then starts to rally up.
961 |960 |01:23:24 ~-~-> 01:23:28 |Okay, that's fine. Remember, there's three PD res three things I'm looking
962 |961 |01:23:28 ~-~-> 01:23:35 |at. That will cancel the trade, it will remove the I guess the the probabilities
963 |962 |01:23:35 ~-~-> 01:23:41 |of it panning out my favor. So after three PD arrays that outline in my mind,
964 |963 |01:23:41 ~-~-> 01:23:44 |and one of them was the constant encouragement of this wick here. It's
965 |964 |01:23:44 ~-~-> 01:23:50 |this candles high. And now it's this order block level, if we trade back into
966 |965 |01:23:50 ~-~-> 01:23:54 |that order block, I'm uncomfortable holding the trade and I'll probably I'll
967 |966 |01:23:54 ~-~-> 01:23:59 |cancel the trade at that point, I won't even let it go down to this low sum of
968 |967 |01:23:59 ~-~-> 01:24:03 |words, if it trades this order block and digs into that body right there, I will
969 |968 |01:24:03 ~-~-> 01:24:06 |make the trade right there. And even if it rips back up here, I'm okay I care
970 |969 |01:24:06 ~-~-> 01:24:12 |less. Now, that's something that most of you don't have a comfort level with.
971 |970 |01:24:12 ~-~-> 01:24:15 |Because you need your trade to pan out or you feel like a failure. I don't feel
972 |971 |01:24:15 ~-~-> 01:24:19 |that way. I don't feel that way at all. You know, I want to go home with a
973 |972 |01:24:19 ~-~-> 01:24:24 |couple $1,000 today. In addition to what I've already took away, that's how my
974 |973 |01:24:24 ~-~-> 01:24:29 |mindset works. So to sit in a trade and let it go all the way back down below
975 |974 |01:24:30 ~-~-> 01:24:35 |this orderbox mean threshold, like I don't want to see it do that because the
976 |975 |01:24:35 ~-~-> 01:24:38 |mean threshold is down close candle is also basically below of that fair value,
977 |976 |01:24:38 ~-~-> 01:24:44 |get the shape and green, you see that. So there's a lot of things that to me,
978 |977 |01:24:44 ~-~-> 01:24:48 |it doesn't need to go back down here for that. If it's going down there, it's
979 |978 |01:24:48 ~-~-> 01:24:53 |going down here to go lower, lower to a degree where I'm uncomfortable holding
980 |979 |01:24:53 ~-~-> 01:25:01 |the trade. So this is this thing that I got mentioned earlier. That's where
981 |980 |01:25:01 ~-~-> 01:25:07 |we're at right now. In my mind, I see traders seeing that as oh, we're we got
982 |981 |01:25:07 ~-~-> 01:25:14 |strong resistance at 4593 and a half and they're wanting to go short. So what
983 |982 |01:25:14 ~-~-> 01:25:19 |does that do it engineers liquidity more by side if there wasn't already a
984 |983 |01:25:19 ~-~-> 01:25:23 |significant amount here, which there is absolutely a significant amount up here.
985 |984 |01:25:23 ~-~-> 01:25:30 |This level in this level is building by side liquidity. Because they see this
986 |985 |01:25:31 ~-~-> 01:25:41 |when I say they, they are the retail traders. Hey, let's go. Okay. Enough of
987 |986 |01:25:41 ~-~-> 01:25:51 |that. She's rowdy when we got her first, first time home with her. She was very
988 |987 |01:25:52 ~-~-> 01:25:58 |timid. And Piper the other boxer puppy. She was rowdy, like I wanted to rename a
989 |988 |01:25:58 ~-~-> 01:26:04 |rowdy. But scat was always bullied by her. And now Scout has flipped the
990 |989 |01:26:04 ~-~-> 01:26:09 |script and now she's the rambunctious rowdy one in that's the one that's
991 |990 |01:26:09 ~-~-> 01:26:11 |making all the noise Piper's been laying at my feet the whole time just being
992 |991 |01:26:11 ~-~-> 01:26:17 |real she's she's a sweetheart I love them both but Scout I guess because she
993 |992 |01:26:17 ~-~-> 01:26:21 |was bullied by Piper her first few months now she's like well I'm gonna be
994 |993 |01:26:21 ~-~-> 01:26:26 |the dominant one and she does she dominates her in every aspect towards a
995 |994 |01:26:26 ~-~-> 01:26:30 |smaller in stature in size but she's gotten bigger like she's filled out
996 |995 |01:26:30 ~-~-> 01:26:37 |better and she's trying to exert her dominance so she's looking at a
997 |996 |01:26:37 ~-~-> 01:26:42 |hyperlink next to me and she wants to be over here trying to usurp
998 |997 |01:26:47 ~-~-> 01:26:51 |so this is what I was referring to earlier like on on nonpayroll Fridays
999 |998 |01:26:52 ~-~-> 01:26:56 |the things that you want to see happen which it should very easily just came
1000 |999 |01:26:56 ~-~-> 01:27:01 |right out there and swipe that look how close they got look at the high it's the
1001 |1000 |01:27:01 ~-~-> 01:27:06 |93.50 level so what do I need to get out there? I need that spread so it's
1002 |1001 |01:27:06 ~-~-> 01:27:12 |denying that it denied it okay. This candle High was nine 350 This candle as
1003 |1002 |01:27:12 ~-~-> 01:27:18 |high as nine 350 And you wonder why I don't trade aggressively and more
1004 |1003 |01:27:19 ~-~-> 01:27:23 |frequently when the Non Farm Payroll Friday that comes around it's because of
1005 |1004 |01:27:23 ~-~-> 01:27:26 |these very characteristics they're highly manipulated
1006 |1005 |01:28:03 ~-~-> 01:28:06 |just want to take a quick look at the NASDAQ real quick
1007 |1006 |01:28:11 ~-~-> 01:28:18 |alright it's pulled into Is there a gap as well liquidity is resting here
1008 |1007 |01:28:24 ~-~-> 01:28:30 |I'm gonna roll the staff up to brass I was gonna do to earlier so I'm gonna
1009 |1008 |01:28:30 ~-~-> 01:28:38 |lock in this is rolled up to 3000 it goes there I want to be out anyway so I
1010 |1009 |01:28:38 ~-~-> 01:28:47 |now I've completely removed any concern should have decided not to go to my
1011 |1010 |01:28:47 ~-~-> 01:28:55 |limit orders I've funded myself a paid the tree and I removed even further
1012 |1011 |01:28:57 ~-~-> 01:29:00 |she's she wants out of her kennel
1013 |1012 |01:29:31 ~-~-> 01:29:37 |she got her way just like my wife. I'm gonna keep doing this. Oh, there we go.
1014 |1013 |01:29:38 ~-~-> 01:29:44 |There's a limit order and then see if we can punch up and get the other one and
1015 |1014 |01:29:46 ~-~-> 01:29:51 |randomness again. There we go. Beautiful beautiful field you better fill me I
1016 |1015 |01:29:51 ~-~-> 01:29:59 |thought so. So again, you know one of those instances where I guess this stuff
1017 |1016 |01:29:59 ~-~-> 01:30:06 |still works. So I guess the they haven't figured out how to beat ICT. As I've
1018 |1017 |01:30:06 ~-~-> 01:30:09 |enjoyed my time with you all this morning, hopefully, you got something
1019 |1018 |01:30:09 ~-~-> 01:30:15 |out of all this. If anything, if it's an inspiring to you to stick to what it is
1020 |1019 |01:30:15 ~-~-> 01:30:18 |I'm teaching you it works, folks, I promise you there's nothing else there's
1021 |1020 |01:30:18 ~-~-> 01:30:22 |absolutely nothing else out there that's better than this. This is the market.
1022 |1021 |01:30:23 ~-~-> 01:30:27 |This is the market. Look at the turning point here. I told you I can go down and
1023 |1022 |01:30:27 ~-~-> 01:30:30 |touch that it's better if it doesn't, but if it does, I would expect it to do
1024 |1023 |01:30:30 ~-~-> 01:30:36 |what? move higher. In the event that I'm incorrect, what am I doing? I'm making
1025 |1024 |01:30:36 ~-~-> 01:30:43 |sure I'm paid. I rolled the stop and then delivered like gangbusters back
1026 |1025 |01:30:45 ~-~-> 01:30:52 |every week, every day and it won't stop. Until talk to you next time. Be safe
1027