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ICT YT - 2023-12-16 - ICTs YouTube Space - Proper Mindset Pitfalls and Plagues That Undermine Performance

Last modified by Drunk Monkey on 2025-09-27 13:18
1 00:00:27 --> 00:00:36 ICT: Good morning, it is a good morning. Hope you're doing well. So I felt a
2 00:00:36 --> 00:00:42 little impulsive. This morning, I got up a little earlier than I planned to be
3 00:00:42 --> 00:00:46 the a and I made my rounds through YouTube and looked at the folks that I
4 00:00:46 --> 00:00:54 like to follow and see what they posted and see if their latest updated social
5 00:00:54 --> 00:01:04 media posts would be. And I came across one of the guys I follow who I'm rooting
6 00:01:04 --> 00:01:13 for. A lot of you don't understand why. But he was the inspiration behind this
7 00:01:14 --> 00:01:19 discussion today. Now, right away, let me preface it by saying this is the kind
8 00:01:19 --> 00:01:26 of thing that the millennials that have it right now give it to me, I demand it,
9 00:01:26 --> 00:01:30 you owe it to me and make it real easy. And I don't want to have to put any
10 00:01:30 --> 00:01:35 effort into it. This is the kind of topic or discussion that you're not
11 00:01:35 --> 00:01:39 going to like, because it's going to require you to do some personal
12 00:01:39 --> 00:01:43 inventory. It's also going to put limitations on where you're placing your
13 00:01:43 --> 00:01:49 focus, what you should be doing, how you should be thinking and the millennial
14 00:01:49 --> 00:01:52 mindset is Don't tell me how to think I'll learn how to do that on social
15 00:01:52 --> 00:02:05 media. So in trading, and investing, you're you're entering an arena, where
16 00:02:05 --> 00:02:10 the sharpest minds in the world are out here trying to cannibalize one another.
17 00:02:10 --> 00:02:15 And if you come in with a very limited perspective on how the markets are going
18 00:02:15 --> 00:02:20 to behave, how you are going to engage in these marketplaces, you're going to
19 00:02:20 --> 00:02:26 have your clock cleaned, okay? very efficiently. And expediently and it will
20 00:02:26 --> 00:02:36 be sudden, and you won't feel like anyone can be profitable or anyone can
21 00:02:36 --> 00:02:41 trade. And I've seen that over the years as a educator coming in contact with a
22 00:02:41 --> 00:02:48 lot of different personalities, a lot of different cultural divides. And largely
23 00:02:48 --> 00:02:57 the repeating phenomenon is that the lack of personal responsibility. And
24 00:02:57 --> 00:03:10 also the just a disproportionate level of what is realistic, versus what's been
25 00:03:11 --> 00:03:17 promoted largely on social media. So I wanted to talk a little bit, I probably
26 00:03:17 --> 00:03:23 will be about an hour or less today. So I'm on schedule. So I have to make sure
27 00:03:23 --> 00:03:27 I stay on that. That timeframe. It's around the holidays. And it's something
28 00:03:27 --> 00:03:30 I'm trying to squeeze in on my personal time. Usually I do these types of
29 00:03:30 --> 00:03:34 things, or did these things. I'm not on Twitter anymore, but I would do Twitter
30 00:03:34 --> 00:03:38 spaces. And I wanted to kind of encourage you, because we're ending in
31 00:03:38 --> 00:03:44 2023. A lot of you have learned a great deal of new things on the YouTube
32 00:03:44 --> 00:03:48 channel, you've learned a lot of things about trading, maybe you've discovered a
33 00:03:48 --> 00:03:51 lot of things about yourself. Maybe you found the model, maybe you found the
34 00:03:51 --> 00:03:59 beginning footings, if you will have a progress that you want to see increase
35 00:03:59 --> 00:04:04 in move forward. And I'm trying to encourage you to do that today. But also
36 00:04:04 --> 00:04:11 want to remind you some of the things that I met coming up. And also what I
37 00:04:11 --> 00:04:16 see a lot of traders, and a lot of influencers slash traders, and a lot of
38 00:04:16 --> 00:04:23 YouTubers that pretend to be traders, those pitfalls they're falling victim
39 00:04:23 --> 00:04:32 to. And admittedly, I have reached out to them both publicly and privately, to
40 00:04:32 --> 00:04:36 try to encourage me to do things a little bit differently. And I understand
41 00:04:36 --> 00:04:40 some people just don't want to take advice, especially some of them, not
42 00:04:40 --> 00:04:45 wanting to receive it from me. But that's, you know, that's missing it's
43 00:04:45 --> 00:04:52 misfortunate for both of us because I'd like to see these individuals improve
44 00:04:52 --> 00:05:00 and I see them at a position of stagnant development. The chart will not change
45 00:05:00 --> 00:05:04 In this discussion, by the way, so your screens not frozen. There'll be a list
46 00:05:04 --> 00:05:09 of things here. And I'll show you the first one. The first pitfall and plague
47 00:05:09 --> 00:05:13 of trading well is unrealistic expectations or results that you think
48 00:05:13 --> 00:05:18 that you have to have. Okay. And before I say anything more, just let me say
49 00:05:18 --> 00:05:26 this. We are in a performance oriented industry, it's all about the results,
50 00:05:26 --> 00:05:32 okay? Whose results matter, yours, not mine, not the people you follow, not the
51 00:05:32 --> 00:05:36 people that you're trying to learn from, not the people, you pocketwatch on
52 00:05:36 --> 00:05:40 social media, this person has the better car, this person has the better house,
53 00:05:40 --> 00:05:44 this person has the better trading setup, the better, the better. Monitor
54 00:05:44 --> 00:05:50 array, the better trading desk, the better whatever, okay, all of those
55 00:05:50 --> 00:05:54 things, do nothing to put money in your pocket or add to your bottom line on
56 00:05:54 --> 00:05:58 your account. Now, that's not to say you can't be entertained by those types of
57 00:05:58 --> 00:06:02 things. But unfortunately, the state of the world today is they equate that to
58 00:06:02 --> 00:06:08 being equivalent to Well, I can be like them, and I want to be successful. So I
59 00:06:08 --> 00:06:11 can do those things versus I want to learn how to trade so I don't have to go
60 00:06:11 --> 00:06:17 to work. I want to have a profitable trading endeavor, so that we can operate
61 00:06:17 --> 00:06:22 like a business, and be an entrepreneur and have the benefits of living a better
62 00:06:22 --> 00:06:26 lifestyle. And that's not being rich. Okay, that's not that's not being
63 00:06:26 --> 00:06:29 promised to you here. But another stream of income, that you can feel confident
64 00:06:29 --> 00:06:36 that you're going to be able to do this in perpetuity, without the necessity of
65 00:06:36 --> 00:06:40 you going to punch a time clock, or leaning on the salary that a ball says
66 00:06:40 --> 00:06:44 that this is what you're worth, to me. That's not guaranteed to you next year
67 00:06:44 --> 00:06:51 in 2024, that could change. So when we look at people, and I'm going to lock
68 00:06:51 --> 00:07:00 myself into this, okay, for all fairness, I share a lot of examples that
69 00:07:00 --> 00:07:08 many of you sometimes say in my comment section, you did a lot on Twitter, too.
70 00:07:08 --> 00:07:12 Not all of you are guilty of this, but I I'm of the opinion that it's the
71 00:07:12 --> 00:07:17 majority, I know that sometimes on executing with models that I have not
72 00:07:17 --> 00:07:25 fully revealed, or entry mechanisms or things like that. And invariably, I'll
73 00:07:25 --> 00:07:32 see people say, I took the exact same trade, you're lying to yourself, I don't
74 00:07:32 --> 00:07:36 believe you. And those types of things are not going to help you as a trader,
75 00:07:36 --> 00:07:40 because what you're doing is, you're saying to yourself, in a comment to me
76 00:07:40 --> 00:07:44 that I'm not believing. Now, if you so this is my example. And I have students
77 00:07:44 --> 00:07:51 that do this. They'll record themselves in engaging price, managing it. And I
78 00:07:51 --> 00:07:54 reached out to a person that just recently in the day did almost the same
79 00:07:54 --> 00:08:02 trade that I did. And I gave him a call out on my community tab. He's ever on
80 00:08:02 --> 00:08:07 Twitter. Just look at that name. Look at all the recent tweets towards me. Now,
81 00:08:07 --> 00:08:14 I'm not active on Twitter. But that person did exactly as close as you can
82 00:08:14 --> 00:08:20 can to what I did in terms of trying to trade the market. Wasn't it exact same
83 00:08:20 --> 00:08:24 film? No. Was it exact same targets? No. But the same premise? What was he
84 00:08:24 --> 00:08:32 employing? What he learned? Okay, what do you learned? So unrealistic results
85 00:08:32 --> 00:08:41 are assuming that you're going to have the same entries, the same targets the
86 00:08:41 --> 00:08:48 same, everything about my trade. When you don't hit that, it will be
87 00:08:48 --> 00:08:54 frustrating. And you'll start doing other things because that impulsiveness
88 00:08:54 --> 00:08:59 will rise up in you. And you're going to know, in the deepest part of you that
89 00:08:59 --> 00:09:05 you can't do what I'm doing yet. Now did you can't, but you can't do it yet. So
90 00:09:05 --> 00:09:09 then you start pushing a button to see, well, let me entertain myself because I
91 00:09:09 --> 00:09:12 don't feel well about what I think I should be able to do. Because I've
92 00:09:12 --> 00:09:16 watched a lot of these videos. Therefore it means I should know how to do it.
93 00:09:16 --> 00:09:20 When you haven't practiced that. You haven't studied it. You haven't put
94 00:09:20 --> 00:09:25 chart time and you haven't logged anything. And those things they will
95 00:09:25 --> 00:09:29 equate to and deliver the results that you're looking for. But just simply
96 00:09:29 --> 00:09:33 watching videos, that doesn't do it. Watching videos about taking notes
97 00:09:33 --> 00:09:39 doesn't do it. So having unrealistic results in mind meaning watching things
98 00:09:39 --> 00:09:45 like a Robins cup performance next year, or watching what the historical returns
99 00:09:45 --> 00:09:49 have been and thinking that you're going to walk out there in your trading, not
100 00:09:49 --> 00:09:57 necessarily entering the competition but trading with that level of return. Every
101 00:09:57 --> 00:10:00 one of those individuals out there today if you go look at it and Any one of
102 00:10:00 --> 00:10:04 those divisions, they're all respectable returns.
103 00:10:06 --> 00:10:08 They're not to be diminished. I'm not trying to say that they're not good
104 00:10:08 --> 00:10:13 returns, they're great returns, if you're making 100% return on your money
105 00:10:13 --> 00:10:17 in a year. And granted, there are a lot of you that are my students, there's a
106 00:10:17 --> 00:10:22 lot of you that don't even trade the way I trade. And you can do better than 100%
107 00:10:22 --> 00:10:26 return in a year. So please put your ego aside, because we're not out here trying
108 00:10:26 --> 00:10:30 to measure up anything I'm trying to focus on the students or traders that
109 00:10:30 --> 00:10:35 are trying to accomplish consistency. And the things that they may or may not
110 00:10:35 --> 00:10:39 have identified are problematic barriers that they're either going to have to
111 00:10:39 --> 00:10:44 overcome, or will eventually become a factor in their development, and how to
112 00:10:44 --> 00:10:48 get around those types of things, at least, how I did it, and how I actively
113 00:10:48 --> 00:10:53 teach my own students, and my own children. And I'll talk about my son
114 00:10:53 --> 00:10:58 Cameron, who's wrestling with a lot of things as well. So you have to be
115 00:10:58 --> 00:11:03 realistic about this. Okay, and watching someone that's been doing it for a very
116 00:11:03 --> 00:11:07 long time. And assuming that you're gonna watch a few videos that you maybe
117 00:11:07 --> 00:11:11 have been following for a number of years, and then thinking well, I should
118 00:11:11 --> 00:11:16 be able to do what you're doing. When none of you would be expected to be able
119 00:11:16 --> 00:11:20 to trade like that, I would never have that expectation on you. years down the
120 00:11:20 --> 00:11:25 road, you will. But just simply because you went through a video series last a
121 00:11:25 --> 00:11:28 couple of days, and maybe looked at some old charts, or maybe watching some of my
122 00:11:28 --> 00:11:33 executions, you might feel an affinity for wanting to trade like this. But
123 00:11:33 --> 00:11:36 don't assume for a moment that it's realistic for you to expect yourself to,
124 00:11:36 --> 00:11:43 to walk out in 2024, and trade like that. So when you see your favorite
125 00:11:43 --> 00:11:50 YouTuber, your favorite online personality in me in that list as well.
126 00:11:51 --> 00:11:57 Our results are unique to us. You don't know what we're wrestling with at the
127 00:11:57 --> 00:12:04 time. You don't know what things are factors that are really plaguing us
128 00:12:04 --> 00:12:09 behind the scenes, while in a trade. You don't know if we feel good about the
129 00:12:09 --> 00:12:13 levers that we put on or not. There's been several instances where I have
130 00:12:14 --> 00:12:19 shown executions this week. And when I moved my stop because of personal
131 00:12:19 --> 00:12:23 schedules, I want to be able to share something with you. And I moved the stop
132 00:12:23 --> 00:12:27 a little bit more aggressive than I would normally do. If I wasn't trying to
133 00:12:27 --> 00:12:30 meet a time scheduled event like my son going to the dentist, like my wife
134 00:12:30 --> 00:12:33 saying, hey, you know, we got to get the tree up, we got to do this, we got to
135 00:12:33 --> 00:12:37 get new sets of this for you something around the house because I'm a family
136 00:12:37 --> 00:12:42 person as well. I have a family, I have a wife of a honey to do, or honey do
137 00:12:42 --> 00:12:46 list that she likes to throw at me. These are all things that you as a
138 00:12:46 --> 00:12:50 person are going to have to manage in your trading as well. And while you're
139 00:12:50 --> 00:12:54 learning how to do this, if you ever went to uni, even a college student
140 00:12:54 --> 00:12:59 would not be those types of things. You had to balance that as well. You had to
141 00:12:59 --> 00:13:03 work your job if you have to keep a job steady, do all those things. And it's a
142 00:13:03 --> 00:13:08 lot on your plate. And it's important that you realize that no one's holding
143 00:13:08 --> 00:13:14 you to a unrealistic expectation of yourself except for you. You you're
144 00:13:14 --> 00:13:24 doing that and don't allow other people to inflate what you should be viewing as
145 00:13:24 --> 00:13:30 realistic results and what is a realistic result. To me, if you can make
146 00:13:30 --> 00:13:39 2% a week, that's phenomenal. Now obviously, you that's way below someone
147 00:13:39 --> 00:13:45 that's been trading for a long time. That's, that's really nothing in terms
148 00:13:45 --> 00:13:48 of the grand scheme of things. But we're talking about where you are right now.
149 00:13:48 --> 00:13:59 The the the lack of consistency, or the trader student that is unable to find
150 00:13:59 --> 00:14:06 their way in consistency. Where should you aim? Finding yourself in the realm
151 00:14:06 --> 00:14:13 of 2% positive on the week. That is not a high watermark where you can't reach
152 00:14:13 --> 00:14:20 it is absolutely attainable. And you can do it risking one quarter of 1% Now
153 00:14:20 --> 00:14:27 that's not sexy, that's not in vogue right now. That's not a popular thing to
154 00:14:27 --> 00:14:31 be risking that little because in your mindset, you're thinking I can't get
155 00:14:31 --> 00:14:39 rich, risking so little I gotta risk big money. That's a lie. The people that say
156 00:14:39 --> 00:14:45 that are not profitable anyway. In their mind that tells you that number one,
157 00:14:45 --> 00:14:49 they're mathematically challenged. They have no understanding of compound
158 00:14:49 --> 00:14:54 interest. They have no consistency in modeling a trading plan. They have no
159 00:14:54 --> 00:14:57 idea what they're looking for. They have no faith in what they're looking for.
160 00:14:57 --> 00:15:04 It's gonna repeat just about every sing all day. And because creatures of habit,
161 00:15:04 --> 00:15:10 that's what humans are, if you if you follow or fly with a flock of birds,
162 00:15:10 --> 00:15:15 okay, that has a specific mindset, you will adopt that mindset, even if it is
163 00:15:15 --> 00:15:20 toxic, because you're going to try to fit in. And social media kind of
164 00:15:21 --> 00:15:25 captivates these individuals where they feel like they're, they're included in
165 00:15:25 --> 00:15:34 something. And you don't want to include yourself in to a community mindset. That
166 00:15:34 --> 00:15:41 is unrealistic, having astronomical rates of return. You know, while that's
167 00:15:41 --> 00:15:47 wonderful, and it should be an aspiration over a long career, walking
168 00:15:47 --> 00:15:52 out in your first few years as a fledgling as a trader, you know, it's,
169 00:15:52 --> 00:15:58 it's going to sound like a buzzkill. But really, it's not practical. And I fell
170 00:15:58 --> 00:16:01 victim to that when I first started, I felt like it was something that, you
171 00:16:01 --> 00:16:07 know, that's what that's going to tell me, I'm doing the right thing, making
172 00:16:07 --> 00:16:11 lots of money doing it correctly, you with lots of new percentage return,
173 00:16:13 --> 00:16:20 never losing. That's an unrealistic expectation as well. And I forced myself
174 00:16:20 --> 00:16:25 I was actually talking to my private mentorship students. And I said, I was
175 00:16:25 --> 00:16:30 forcing myself to trade in conditions that I don't generally want to trading.
176 00:16:31 --> 00:16:37 And you've seen me get stopped out, you've watched me get stopped out. They
177 00:16:37 --> 00:16:43 have to re enter using the rules that I teach, traded in settings that I would
178 00:16:43 --> 00:16:47 not risk real money in. And the questions that are coming up in the
179 00:16:47 --> 00:16:52 comment section, you know, why are you doing it? Because I'm showing you why I
180 00:16:52 --> 00:16:55 practice what I preach. Can I get it right? Sometimes? Yes. But is that
181 00:16:55 --> 00:16:59 enough reason for me to go out there and trade in front of the CPI? No. Is it
182 00:16:59 --> 00:17:06 enough reason for me to trade in front of the FOMC? No. Is it something that
183 00:17:06 --> 00:17:11 should be trading on a Thursday and Friday of Non Farm Payroll? No. Can I
184 00:17:11 --> 00:17:18 Yes. Can I get fortunate enough to have a setup fall in my favor? Yes. But that
185 00:17:18 --> 00:17:25 doesn't entice me to do it as a steady diet every single month. Because my
186 00:17:26 --> 00:17:34 precision, my accuracy, my trade management is greatly hindered by the
187 00:17:34 --> 00:17:40 level of volatility and uncertainty that is caused around those types of days. So
188 00:17:40 --> 00:17:45 I don't need to go out on social media to do those things to prove that my
189 00:17:45 --> 00:17:49 concepts or that I can trade or anybody else can learn this and have it
190 00:17:49 --> 00:17:52 transferable knowledge. I don't need to do those things. But because I want to
191 00:17:52 --> 00:17:55 close this year out with other things and talk about it in a manner where hey,
192 00:17:55 --> 00:18:00 look, you can see those examples and think to yourself, Wow, that's, that's
193 00:18:00 --> 00:18:05 really good. To me, when I look at this, I look at it as I know, it's
194 00:18:05 --> 00:18:09 entertaining for you. But I don't want you to look at it and say, Well, I want
195 00:18:09 --> 00:18:15 to trade like you and do that. Because that's not what this was. Well. There's
196 00:18:15 --> 00:18:19 been several times this year. And in my prime ministership, they will vouch for
197 00:18:19 --> 00:18:26 this too, I'm rarely accurate in my expectation of front of the CPI number.
198 00:18:26 --> 00:18:30 I've said it many times in Twitter spaces. I've said it many times in this
199 00:18:30 --> 00:18:35 YouTube channel. And I'm rarely accurate, in terms of what I think the
200 00:18:35 --> 00:18:41 CPI is going to do before it does it. So if I had a model, if I had a approach
201 00:18:41 --> 00:18:46 that could take advantage of that thing, clearly I'd be in there doing every
202 00:18:46 --> 00:18:50 single month when it's available, I'd be in there you fleecing it every every
203 00:18:50 --> 00:18:55 single opportunity. But because I've seen enough to know that that's not
204 00:18:55 --> 00:19:00 realistic for me to know in advance with a great deal of consistency, what that
205 00:19:00 --> 00:19:04 report is going to do much like the Non Farm Payroll, I can have a schematic in
206 00:19:04 --> 00:19:07 mind where I think that this is what the price is going to do. It's going to
207 00:19:07 --> 00:19:11 behave this way. It's going to attack this liquidity first and then go here.
208 00:19:11 --> 00:19:15 But you know what that is? It's the equivalent of the same thing that a
209 00:19:15 --> 00:19:19 football teams head coach does when they're at the Superbowl. They have a
210 00:19:19 --> 00:19:26 playbook. For how many times is the other team that didn't when looking at
211 00:19:26 --> 00:19:31 that playbook saying, but I had it all figured out beforehand. If the players
212 00:19:31 --> 00:19:35 just would have did this if the candlesticks would have just did what
213 00:19:35 --> 00:19:40 they were supposed to do. That's unrealistic thinking. Those are
214 00:19:40 --> 00:19:44 unrealistic results. I know that these markets are going to be even more
215 00:19:44 --> 00:19:51 manipulated in a degree where I can't participate and trust that my concepts
216 00:19:51 --> 00:19:56 my models are going to perform as efficiently as they would if they're not
217 00:19:56 --> 00:20:01 in those particular settings. Any given day of the Week, apart from the things
218 00:20:01 --> 00:20:02 I've mentioned here,
219 00:20:03 --> 00:20:06 I'm pretty confident that I'm gonna find something that I'm gonna be able to take
220 00:20:06 --> 00:20:14 home. Now, me being your mentor, and you saying, I'm a student of you, and I
221 00:20:14 --> 00:20:19 believe in your concepts, that doesn't equate to you being on the level,
222 00:20:20 --> 00:20:26 knowing how to do it yet. So don't blur that line. And some of you get very
223 00:20:26 --> 00:20:32 misses where it becomes, you know, admittedly, it's it's cult like, because
224 00:20:33 --> 00:20:37 anything that gets popular, and it feels like you want to be a part of it, and
225 00:20:37 --> 00:20:43 it's able to do things that something different. People want to plug into
226 00:20:43 --> 00:20:48 that, and it gives them an identity, you're stronger than that, you don't
227 00:20:48 --> 00:20:53 need to identify with me, you don't need to identify with my concepts. That
228 00:20:53 --> 00:20:57 doesn't mean you can't employ them, it doesn't mean that they can't be a basis
229 00:20:57 --> 00:21:02 for you to be trading. But so many of you are just trying to be part of
230 00:21:03 --> 00:21:09 something that's not required for you to be profitable, meaning the the carnival
231 00:21:09 --> 00:21:14 like atmosphere, I love the commodity and the tight knit feeling of our
232 00:21:14 --> 00:21:22 community. But many of you go on to defensive when you don't need to. And
233 00:21:23 --> 00:21:27 that's an unrealistic result as well. You can't worry about defending me, you
234 00:21:27 --> 00:21:32 can't worry about defending my concepts, they do it all by themselves. Okay, I
235 00:21:32 --> 00:21:37 don't need anybody to defend me or how I trade. Your focus should be primarily on
236 00:21:37 --> 00:21:41 you. What are you doing today? That's leading you to being better than you
237 00:21:41 --> 00:21:47 were yesterday? Last week, last month, last quarter last year? And are you
238 00:21:47 --> 00:21:52 logging that? You have to be journaling? If you're not journaling? That's an
239 00:21:52 --> 00:21:58 unrealistic result. You have no baseline measurement, you have no way of being
240 00:21:58 --> 00:22:03 able to judge, are you really seeing progress? Because if you go by gut
241 00:22:03 --> 00:22:07 feeling, yeah, I feel better by getting in trade. That's nothing. That's
242 00:22:07 --> 00:22:11 nothing. Some of these executions, I didn't share it with you this week. And
243 00:22:11 --> 00:22:16 last year, once I got into the trade, I was like, a rush. So when I got in this
244 00:22:16 --> 00:22:20 trade, now, I wish I would have waited on another move and even got in at a
245 00:22:20 --> 00:22:24 higher price. Even though I was bullish, even though I got in and a lower price.
246 00:22:24 --> 00:22:29 I didn't like where I was in certain parts of those executions. But I was
247 00:22:29 --> 00:22:32 there. And that's exactly what it's like for you. When you get into the real
248 00:22:32 --> 00:22:36 world where you're trading with real money, you're gonna push a button. And
249 00:22:36 --> 00:22:40 now what do you do if you don't feel so warmed up to the idea that you've placed
250 00:22:40 --> 00:22:46 yourself correctly, you either have to manage yourself through that trade, or
251 00:22:46 --> 00:22:51 kill it, and then go in in a better place where you feel sound, you feel
252 00:22:51 --> 00:22:56 comfortable. And books don't talk about these types of things. You know, other
253 00:22:56 --> 00:23:00 teachers, they don't talk about those things. It's something that you're going
254 00:23:00 --> 00:23:07 to encounter. But when you sugarcoat it, and you put blinders on, you say, Well,
255 00:23:09 --> 00:23:11 I didn't really do anything wrong here, because the trade did eventually pan
256 00:23:11 --> 00:23:17 out. Well, that's not accurate. You have to identify what caused you the
257 00:23:17 --> 00:23:25 uncomfortable state of mine. I was in, I've been listening to the tops that
258 00:23:25 --> 00:23:30 YouTube channel, those guys over there, they used to trade on the floor. And I
259 00:23:30 --> 00:23:33 absolutely love listening to their stories. I love listening to their
260 00:23:33 --> 00:23:38 banter. And I like using your chat window for sentiment because it's a
261 00:23:38 --> 00:23:42 wonderful way of being able to see overbought, oversold when capitulations
262 00:23:42 --> 00:23:46 there, when I can feed that type of thing. And please don't be put off by
263 00:23:46 --> 00:23:49 that because they're doing the same thing when they talk about their tilt.
264 00:23:50 --> 00:23:53 That's a sentiment indicator. You know, all of you are going to want to use
265 00:23:53 --> 00:23:57 that. And all I'm doing is using the real time sentiment indicators that the
266 00:23:57 --> 00:24:02 commentary of these participants in that chat window and other YouTubers I like
267 00:24:02 --> 00:24:08 to listen to. I'm not there to learn how to trade. I'm there for the community
268 00:24:08 --> 00:24:11 aspect of listening to them talk about how it was for them on the floor. I love
269 00:24:11 --> 00:24:14 hearing I wish they would do more of that. I wish they would do more of that.
270 00:24:15 --> 00:24:20 I started when that was still a way of trading. You know, we're dinosaurs, that
271 00:24:20 --> 00:24:27 type of that way of trading is gone. It'll never be like that again. And when
272 00:24:27 --> 00:24:35 I heard one of the gentlemen talk about how they had traded, and while they did
273 00:24:35 --> 00:24:41 well enough to come out in a profit. He said, I don't like it. And even though I
274 00:24:41 --> 00:24:46 was profitable, I don't feel I did well today. Yield that is that's not that's
275 00:24:46 --> 00:24:52 not beating yourself up. That's reality. And that's exactly what all of you need
276 00:24:52 --> 00:24:57 to do. You can't just say, well, I pushed a button. I want to open a
277 00:24:57 --> 00:25:00 prayer. It worked out in my favor. So therefore it's good. Oh baby, look at
278 00:25:00 --> 00:25:07 me, watching me shine, I have a great deal of respect for that. I have a great
279 00:25:07 --> 00:25:10 deal of respect for any trader that says, You know what, this worked out my
280 00:25:10 --> 00:25:16 favor. But really, it was just a state of me being fortunate enough to see it
281 00:25:16 --> 00:25:19 come out in my favor, it had nothing to do with skill, because if I was being
282 00:25:19 --> 00:25:24 honest with you, I wish I wouldn't have taken that very trade there. Are you
283 00:25:24 --> 00:25:30 equipped to, to critique yourself that way, where it's not, you're not beating
284 00:25:30 --> 00:25:37 yourself up. You're not undermining the, the mindset that you're going to need to
285 00:25:37 --> 00:25:42 tap into, you're not trying to belittle yourself, you're not trying to shame
286 00:25:42 --> 00:25:47 yourself, but you're holding yourself to accountability. And that's a very, very
287 00:25:48 --> 00:25:54 hard line to walk as human being, let alone, placing it on the measurement of
288 00:25:54 --> 00:25:58 making money or losing and equating that to failure or successfulness. And you
289 00:25:58 --> 00:26:02 can't can't do that in trading. Because you can be successful and still just
290 00:26:02 --> 00:26:08 taking very small losses, or getting into a trade and saying, Oh, well, I
291 00:26:08 --> 00:26:13 thought I saw something here. But it really isn't there. And if I hold on to
292 00:26:13 --> 00:26:18 it, really what I'm doing is I'm gambling. Because I don't feel confident
293 00:26:18 --> 00:26:22 about that setup. And I'm not going to wrestle an arm wrestle myself and say,
294 00:26:22 --> 00:26:26 Well, if I get out, I know it's gonna run. And I'm gonna regret that no, a
295 00:26:26 --> 00:26:30 professional mindset doesn't think like that, you know, who thinks like that a
296 00:26:30 --> 00:26:35 gambler, you know, if this slot machine is cold, and they put money on it for
297 00:26:35 --> 00:26:39 two, three hours and ain't paying out nothing. But I know as soon as I get up,
298 00:26:39 --> 00:26:45 Larry over there in the corner who's eaten. dial it back, and it slow down,
299 00:26:45 --> 00:26:50 slow down. Someone else is going to slide on in when you get up. And you
300 00:26:50 --> 00:26:53 know what they're gonna do, they're gonna put enough money in the ratio will
301 00:26:53 --> 00:26:58 be met, and then the machine will pay out. And he will say I knew I was right,
302 00:26:58 --> 00:27:04 if I just would have, we can't do that in trading. You can't have a slot
303 00:27:04 --> 00:27:13 machine mentality. Because if you're gaining the experience, learning how to
304 00:27:13 --> 00:27:18 navigate these markets, knowing what you're looking for. If that's not there,
305 00:27:19 --> 00:27:24 for your trade. Everything's not saying this is really what you should be in
306 00:27:24 --> 00:27:28 right now. You're all things are a go for this trade to be profitable. If
307 00:27:28 --> 00:27:32 those things are not, in fact, what's going on for your trade, then you need
308 00:27:32 --> 00:27:37 to kill it. Or at the very minimum, take half the trade off, and let experience
309 00:27:37 --> 00:27:42 guide you and the rest of it. But if you're honest with yourself, right now,
310 00:27:42 --> 00:27:45 if we were in a conversation together, it was just the privacy of you and I
311 00:27:45 --> 00:27:49 talking. And I will say hey, have you ever had this experience where you knew
312 00:27:49 --> 00:27:55 you shouldn't have been in trade? But yet you're still in it? Wouldn't you?
313 00:27:56 --> 00:28:01 When you feel uncomfortable saying it publicly. You feel uncomfortable,
314 00:28:02 --> 00:28:08 because you're equating it to? Well, it's not something that people should
315 00:28:09 --> 00:28:16 blame. They shouldn't blame me for it. They shouldn't have any harsh criticism.
316 00:28:18 --> 00:28:23 Because I'm trading, I'm doing more than you. And I was willing to hold on to the
317 00:28:23 --> 00:28:26 trade, even though I knew was not likely to be profitable, I was able to hold on
318 00:28:26 --> 00:28:31 to it. So therefore it makes me stronger. No, it makes you a gambler. It
319 00:28:31 --> 00:28:41 makes you a gambler. It makes you hold on to emotional stimuli, for fear of
320 00:28:41 --> 00:28:47 feeling in emotional stimuli at a later time that was going to be regretful,
321 00:28:47 --> 00:28:53 because if you're right, if you're right, and you hold on to it, you're
322 00:28:53 --> 00:28:59 going to call that skill. And I'm here to tell you, that's not skill. If you
323 00:28:59 --> 00:29:05 know your model is no longer in that setup. You're in their blind, you're
324 00:29:05 --> 00:29:11 like a sailboat in a storm, with no rudder. Wherever the winds gonna carry
325 00:29:11 --> 00:29:15 you, that's where you're gonna go. And if you make a dish or somewhere, you're
326 00:29:15 --> 00:29:18 going to call that port of destination where you intended to be. And that's a
327 00:29:18 --> 00:29:29 lie. That's a lie. So, having realistic results, being comfortable with it,
328 00:29:29 --> 00:29:33 being content with it, aiming for a very low hanging fruit objective 2% If you're
329 00:29:33 --> 00:29:37 beginning, if you're not really consistent, aim for 2% a week. I promise
330 00:29:37 --> 00:29:44 you. I promise you, you can make a lot of money. If that's all you ever do. And
331 00:29:44 --> 00:29:50 you intend to trade the rest of your life. 2% per week does wonders. does
332 00:29:50 --> 00:29:51 wonders.
333 00:29:53 --> 00:29:58 Percy, you think it needs to be hundreds of 1000s of dollars. You see these
334 00:29:58 --> 00:30:02 people getting these payouts. Nice funded account companies, how many times
335 00:30:02 --> 00:30:07 did they have to reset and how many times they blow out? That's the, that's
336 00:30:07 --> 00:30:13 the stat I would love to see. When they put up their payout. New leaderboard
337 00:30:13 --> 00:30:18 says, Hey, this trader just took out $20,000, this trader just took a payout
338 00:30:18 --> 00:30:24 of $50,000. Here's how you make it really good. And it's encouragement. And
339 00:30:24 --> 00:30:27 it reminds the people that are trying to pursue that type of trading, say, hey,
340 00:30:27 --> 00:30:31 look, this person failed this many times. This is how many times this
341 00:30:31 --> 00:30:35 person tried to do a combine this how many times they got into a funded
342 00:30:35 --> 00:30:39 account and then lost it. And now this is where they're at, this is how long it
343 00:30:39 --> 00:30:46 took them, then then you would be able to tap into some real data, some real
344 00:30:46 --> 00:30:50 information that would really be helpful to you, because it isn't a flash in the
345 00:30:50 --> 00:30:57 pan overnight success. I know it wasn't for me. And I'm not saying that it can't
346 00:30:57 --> 00:31:01 happen for someone lightning strikes, you know, they happen sometimes. But as
347 00:31:01 --> 00:31:06 a realistic expectation that everybody should expect it for themselves. That's
348 00:31:06 --> 00:31:13 not practical. And this isn't a popular talking point. But it's the very thing
349 00:31:13 --> 00:31:18 that you need to be reminded of. I'm just going to drop the name here.
350 00:31:18 --> 00:31:26 Because I think if if you listen to the person talking in the video that I'm
351 00:31:26 --> 00:31:32 gonna mention here in a second, put aside all the things about the person
352 00:31:32 --> 00:31:35 and the personality and the things that they've said in the past and how they
353 00:31:35 --> 00:31:39 carry on and whatnot. Because it's all environment. It's my opinion, its
354 00:31:39 --> 00:31:43 performance for entertainment purposes, and to draw a crowd, which you know, I'm
355 00:31:43 --> 00:31:50 good at that. But when you listen to this person, articulate the hardships
356 00:31:50 --> 00:31:55 that they're going through. That's the very reason why I watch this person.
357 00:31:56 --> 00:32:00 Because I'm actively interested in seeing them overcome the very things
358 00:32:00 --> 00:32:04 that I'm talking about. It isn't the first time I've talked about it. With
359 00:32:04 --> 00:32:09 this person in mind, I want this person to succeed. I want this person to grow.
360 00:32:09 --> 00:32:14 I want this person to feel accomplished, and overcome a lot of mental barriers.
361 00:32:15 --> 00:32:20 And listen, just listen, and take the good advice and run with it. You don't
362 00:32:20 --> 00:32:23 even you don't even have to thank me. You don't have to go and say I listened
363 00:32:23 --> 00:32:30 to you. And it worked. Just listen and just do it. Okay. But Patrick Whelan, he
364 00:32:30 --> 00:32:35 posted a video last night, and I watched it earlier this morning. And I posted
365 00:32:35 --> 00:32:39 the response, it hasn't made its way to his comment section. And I noticed the
366 00:32:39 --> 00:32:43 other day, I was in a chat window. And none of my posts were making it there.
367 00:32:43 --> 00:32:47 So apparently, I made my way on his banned list. And I'm not sure why but
368 00:32:47 --> 00:32:51 I've always been encouraging to them. But he posted a video. And this is the
369 00:32:51 --> 00:32:58 very type of video I like, watching from him usually is very flamboyant, very
370 00:33:01 --> 00:33:07 much of a braggart and does a lot of talk. And it's great. It's like he has a
371 00:33:07 --> 00:33:14 lot of showmanship. But he admitted where he was in his position of being in
372 00:33:14 --> 00:33:21 a funded account. He showed where he is finance financially where, you know, he
373 00:33:21 --> 00:33:23 had this much, and this is where he's at, he's losing, he's losing, he's
374 00:33:23 --> 00:33:27 losing. And I'm not encouraging you to go over there and talk any kind of
375 00:33:27 --> 00:33:30 smack. I'm not telling you to go over there and troll him. I'm telling you
376 00:33:30 --> 00:33:36 that that's the very thing that this industry needs. That type of stuff,
377 00:33:36 --> 00:33:41 where individuals come out and say, Hey, this is hard. This is what I'm going
378 00:33:41 --> 00:33:45 through. This is what I got to work through. And yeah, I can make a lot of
379 00:33:45 --> 00:33:49 money, but then I ended up losing it. And I don't know the answer is yet. You
380 00:33:49 --> 00:33:53 do know the answers, Patrick, but what you're doing is what social media
381 00:33:53 --> 00:34:00 youtube or twitter, instagram traders do is they're trying to be the biggest
382 00:34:00 --> 00:34:05 profitable person, the biggest profitable, the stand out from a crowd
383 00:34:05 --> 00:34:13 type person. And that's a that's a big pitfall. Because if you're always trying
384 00:34:13 --> 00:34:20 to be the gold medalist unless you're Michael Phelps, a freak of nature, the
385 00:34:20 --> 00:34:23 chances of you being like that consistently. I mean, look at he did a
386 00:34:23 --> 00:34:27 real good run of it. But he's did he do it again and again and again and again.
387 00:34:27 --> 00:34:34 Now. It has a short, it has a short lifespan. It looks great. When it
388 00:34:34 --> 00:34:39 happens, it feels great. And the viewers that don't have experience, they think
389 00:34:39 --> 00:34:45 that okay, you've done this, you need to keep doing it this way. And if you don't
390 00:34:45 --> 00:34:51 do it this way, then you're a fraud. Then you can't trade when it's the very
391 00:34:52 --> 00:34:57 factors that you're placing on yourself that are unrealistic, trying to live up
392 00:34:57 --> 00:35:02 to other people's expectation. You ended up either trying to trade your p&l,
393 00:35:02 --> 00:35:08 which is your trading your profit and loss equity curve, which should never be
394 00:35:08 --> 00:35:14 done. But 90% of the time, I'll just go out and say it's 99% of the time,
395 00:35:15 --> 00:35:20 especially with funded account traders, they freak out. They think that the
396 00:35:20 --> 00:35:24 losing trade is took for even if they hit maximum loss, and they are forced to
397 00:35:24 --> 00:35:27 stop trading. That's the beginning in the end. So you must have this
398 00:35:28 --> 00:35:31 recklessly trade to Wrestlin the rest of it and then start a brand new one,
399 00:35:32 --> 00:35:38 you're still met with the same problem, you have to get to the funded state, you
400 00:35:38 --> 00:35:41 have to get to a profitable state, and you have to be able to eventually
401 00:35:41 --> 00:35:46 withdraw money. Otherwise, why are you doing it? If you're not in this to
402 00:35:46 --> 00:35:50 trade, and make money, and it's irrelevant what other people think is an
403 00:35:50 --> 00:35:54 amount of money that's significant or insignificant, it doesn't matter.
404 00:35:54 --> 00:35:57 Because you're not going to, you're not going to give what you made in the
405 00:35:57 --> 00:36:01 market, you're not going to give that money to anyone. They're not going to
406 00:36:01 --> 00:36:04 spend your money, just the same way. You're not going to spend theirs. But
407 00:36:04 --> 00:36:08 you're all pocket watching. I got people in the comment section saying, you know,
408 00:36:08 --> 00:36:15 why don't you show us your real setups? I am. Why don't you do this live in
409 00:36:15 --> 00:36:20 front of us, I'm not going to do that. Because I know many of you are reckless,
410 00:36:21 --> 00:36:26 you'll over leverage. You won't, you won't have the wherewithal to hold the
411 00:36:26 --> 00:36:30 stock where I place it. Because you're over leverage, you'll hurt yourself. And
412 00:36:30 --> 00:36:33 you'll blame me and I didn't do anything except for do what I'm doing right now.
413 00:36:34 --> 00:36:39 And or other people will do it get credit from having an amazing trade p&l,
414 00:36:39 --> 00:36:43 and they'll be able to pretend that they can do what I'm doing. And they'll start
415 00:36:43 --> 00:36:49 mentorships and fleece people and take them take advantage Oh, I don't need to
416 00:36:49 --> 00:36:52 do that. Just watch what I do on Robins cup next year. That's all I'm gonna say,
417 00:36:53 --> 00:36:56 just watch out the next year. Okay, that's all you got to worry about.
418 00:36:56 --> 00:37:01 You're gonna have all the things to talk about next year. But having unrealistic
419 00:37:01 --> 00:37:07 expectations of yourself, especially if you're an influencer, or trying to be an
420 00:37:07 --> 00:37:12 influencer, or a YouTuber, the ones that I like, are the ones that come out and
421 00:37:12 --> 00:37:16 say, You know what, these are the hardships I went through. And this is
422 00:37:16 --> 00:37:18 what I'm still wrestling with. You know what, that's someone that listened to,
423 00:37:20 --> 00:37:26 that someone to listen to? Because they're not hiding that part. They don't
424 00:37:26 --> 00:37:35 owe anything to you. They owe nothing to you. But they're being candid enough to
425 00:37:35 --> 00:37:42 say, hey, look, you see this, you see that I got paid out from this company, I
426 00:37:43 --> 00:37:46 took a withdrawal from my live account, that's not a prop from that account.
427 00:37:47 --> 00:37:52 It's my actual trading. I showed you broker statements. I logged in and
428 00:37:52 --> 00:37:58 showed you three months of my trading when loss everything. You're not
429 00:37:58 --> 00:38:02 obligated, I'm not obligated rather, to share any of that none of these
430 00:38:02 --> 00:38:06 individuals on YouTube or on social media are obligated obligated to show
431 00:38:06 --> 00:38:13 you anything. But this expectation, this unrealistic expectation that everybody
432 00:38:13 --> 00:38:19 needs to sit down and prove to you who was no one. Tom, Dick and Harry showing
433 00:38:19 --> 00:38:24 up from the position of anonymity, you owe me a full explanation of everything,
434 00:38:24 --> 00:38:29 I don't owe you shit. And neither does anybody else. And you coming up as a
435 00:38:29 --> 00:38:36 traitor, you you owe no one else, anything. None of you are spending my
436 00:38:36 --> 00:38:39 money. None of you are sleeping in my house, you're not going to drive in my
437 00:38:39 --> 00:38:42 cars, you're not going to go on vacations with me, I'm not going to have
438 00:38:42 --> 00:38:46 presents with your name under under my fucking tree. Okay, none of those things
439 00:38:46 --> 00:38:50 are gonna happen. But in this world today, everybody expects everybody to
440 00:38:50 --> 00:38:59 give them stuff. Information details, things that are not in any way shape or
441 00:38:59 --> 00:39:02 form realistic to be expected. If I was running, if anyone else was running a
442 00:39:02 --> 00:39:08 signal service, then absolutely, you better have something. Show me what
443 00:39:08 --> 00:39:14 you're doing, then that makes sense. It makes perfect sense. But all of you are
444 00:39:14 --> 00:39:18 in a rush to be in a position where other people are going to demand
445 00:39:18 --> 00:39:24 information from you details that you're not obligated to give. You're not
446 00:39:24 --> 00:39:29 obligated. You're absolutely not obligated. But the mindset today is,
447 00:39:29 --> 00:39:32 this is what it should be. And if you don't want to dance to the beat of my
448 00:39:32 --> 00:39:41 drum, then you're a fraud. Go fuck yourself. Okay. Go back here and second
449 00:39:41 --> 00:39:49 one, peer driven performance. Now, I have a lot to do with this. Because when
450 00:39:49 --> 00:39:50 I show examples,
451 00:39:51 --> 00:39:56 other people they're intimidated by that because they they don't trade that way.
452 00:39:56 --> 00:40:00 They many times don't even use a stop loss and they don't Nowhere to do a
453 00:40:00 --> 00:40:03 partial, they don't know where the market is gonna go. And they're just
454 00:40:03 --> 00:40:09 really just getting into a trade to find out what happens. And to me, that's, you
455 00:40:09 --> 00:40:14 know, hope and a prayer type trading, they might be profitable, because
456 00:40:14 --> 00:40:18 honestly, you can flip a quarter, and trade heads and tails. And if you got
457 00:40:18 --> 00:40:22 really, really good risk management and you risk very little, you can make
458 00:40:22 --> 00:40:29 money. I wouldn't sleep at night trading like that. But you can make money. So
459 00:40:29 --> 00:40:39 if, if you feel like you are a another person on on social media, and you feel
460 00:40:39 --> 00:40:45 like because my community, or maybe some of the things I say, if you listen to
461 00:40:45 --> 00:40:51 what I'm saying, I attack retail theology, because it's flawed. It really
462 00:40:51 --> 00:40:55 is, I don't care what you're going to say about it and response, you're making
463 00:40:55 --> 00:40:57 money because you're a good risk manager, not because of Wycoff not
464 00:40:57 --> 00:41:01 because of supply and demand, not because of Elliott Wave, you're making
465 00:41:01 --> 00:41:07 money. Because of good risk management. That's all because none of that stuff
466 00:41:07 --> 00:41:11 makes the market go up or down. Buying and selling pressure, depth of market
467 00:41:11 --> 00:41:17 DOM market profile, all of that is horseshit. It's bullshit. But I know
468 00:41:17 --> 00:41:22 people I know personally, people that make lots of money, and they attribute
469 00:41:22 --> 00:41:29 their success to that. But that stuff is in alignment, when they're profitable
470 00:41:29 --> 00:41:32 with the things that I teach, which is the reality of the marketplace, the
471 00:41:32 --> 00:41:35 market is going to seek yield, it's going to run for inefficiency, for the
472 00:41:35 --> 00:41:39 purposes of making that market efficiently delivered, that's a fair
473 00:41:39 --> 00:41:43 value gap. In other words, it's going to run for liquidity. That's it, that's all
474 00:41:43 --> 00:41:47 that's happening. And when it's not doing that, it's going to consolidate.
475 00:41:48 --> 00:41:52 That's it, there are going to be times when the market has a manual
476 00:41:52 --> 00:41:58 intervention, when you gotta see that interest rates, employment data, an
477 00:41:58 --> 00:42:04 unexpected geopolitical event, something more time something, something
478 00:42:04 --> 00:42:09 completely unexpected. And they'll go in, they'll do something where any one
479 00:42:09 --> 00:42:12 of us could lose money. And there's nothing that can be done to save you
480 00:42:12 --> 00:42:18 from that. That's the underlying inherent risks to trading. And most of
481 00:42:18 --> 00:42:23 you are unaware that those types of things are gonna happen. And you have to
482 00:42:23 --> 00:42:26 be aware of that. So when you're trading your account, and you're trying to use
483 00:42:26 --> 00:42:32 the maximum leverage, okay, you're dealing that with the expectation that
484 00:42:32 --> 00:42:38 you're going to have the best outcome. When I'm telling you as a trader,
485 00:42:39 --> 00:42:43 especially for folks that have not yet found consistency or profitability,
486 00:42:44 --> 00:42:50 that's the worst thing to do. That's the worst thing to do. Just because top
487 00:42:50 --> 00:42:52 staff or any other company out there says you can trade with this number of
488 00:42:52 --> 00:42:56 contracts. That's not what a professionally minded trader will do.
489 00:42:58 --> 00:43:03 It's an IQ test. It's available, you can do that, just like your acceleration
490 00:43:03 --> 00:43:07 pedal on your car says, yeah, it can be pressed all the way to the floor, if you
491 00:43:07 --> 00:43:10 hold it there long enough, your car will go as fast as it will go until it can't
492 00:43:10 --> 00:43:18 go further forward. By accident, by a lane change that is not accessible, and
493 00:43:18 --> 00:43:23 you're gonna hit a brick wall or something. Just because it can go fast.
494 00:43:24 --> 00:43:30 Just because you can go zero to 60 in a couple seconds, doesn't mean that you're
495 00:43:30 --> 00:43:33 on the road, you're trading, you're trading enough that you're traveling on
496 00:43:35 --> 00:43:40 should be done in your neighborhood, with your neighbors, with small children
497 00:43:40 --> 00:43:44 out there playing on their bicycles, just because your car can go zero to 60
498 00:43:44 --> 00:43:51 in 2.3 seconds. Is that the efficiently done safely done? Is it the right thing
499 00:43:51 --> 00:43:54 to do in front of your house? When those children of your neighbors or your
500 00:43:54 --> 00:43:58 children out front doing it? No, of course not. That's poor risk management.
501 00:44:00 --> 00:44:04 But there are people that do those types of things, and they get away with it.
502 00:44:04 --> 00:44:08 And they get high off of that. And they take that same mindset. And they apply
503 00:44:08 --> 00:44:13 it to their trading. And you see that thing happening, that state of mind that
504 00:44:13 --> 00:44:18 that peer driven performance. People that have little dick energy will go out
505 00:44:18 --> 00:44:22 there and say, oh, yeah, this guy over here doesn't know how to trade, I'm
506 00:44:22 --> 00:44:26 going to be in a competition with them. Really not in a competition, but we're
507 00:44:26 --> 00:44:31 going to compete my results against theirs. That's one of the worst things
508 00:44:31 --> 00:44:35 you can do. Because all you have to do is sit back and watch them. They hurt
509 00:44:35 --> 00:44:39 themselves. Why? Because it's peer driven performance. That's not how they
510 00:44:39 --> 00:44:44 would really trade. That's not how they would trade. And you shouldn't trade
511 00:44:44 --> 00:44:51 that way. And social media and peer driven performance, trying to measure up
512 00:44:51 --> 00:44:56 against the next guy. Oh, this is Oh, it's demo. I'm going to I'm going to try
513 00:44:56 --> 00:44:59 to do it with a real account. I'm going to try to maximize this and really trade
514 00:44:59 --> 00:45:04 unlike it normally would, and then wreck yourself in front of everybody, and to
515 00:45:04 --> 00:45:10 do so much damage to your own brand. That's, that's a poor decision. That's
516 00:45:10 --> 00:45:17 poor decision. Those things should not be done. Just because I can sit there
517 00:45:17 --> 00:45:21 all day long and buy and sell up, down, up, down up down all day long in any
518 00:45:21 --> 00:45:25 given market, doesn't mean that I'm going to need to do it. I know I can
519 00:45:25 --> 00:45:27 sleep at night, knowing that I don't have to do that every single day for
520 00:45:27 --> 00:45:34 you. I'm content with not having to do tardy tricks. Okay. I don't need to
521 00:45:34 --> 00:45:39 perform for you. I do it because I want to do it. I do it I have done in the
522 00:45:39 --> 00:45:45 past to thumb my nose at people that say this stuff doesn't work. But never be
523 00:45:45 --> 00:45:48 sucked into this peer driven performance. And many social media,
524 00:45:48 --> 00:45:54 YouTube perpetrators get tied up and all that stuff. I've been steady Eddy going
525 00:45:54 --> 00:46:00 forward. And I just looked at the following. On the YouTube channel, I got
526 00:46:00 --> 00:46:08 under 25,200 24,000 more and not the million mark. So thank you very, very
527 00:46:08 --> 00:46:11 much for that, by the way. And it's very intimidating to know that that many
528 00:46:11 --> 00:46:17 people are listening to me. Maybe not at one time. But that's a lot of people
529 00:46:17 --> 00:46:22 here. Think about that a million people listening to a kid from Middle River,
530 00:46:22 --> 00:46:29 Maryland. It's weird. But anyway, one of the other factors is obviously you want
531 00:46:29 --> 00:46:35 to you want to trade to be an influencer on social media. Maybe not necessarily
532 00:46:35 --> 00:46:39 be in competition with other influencers, but you want to rise to the
533 00:46:39 --> 00:46:46 occasion as a social media influencer. That's a pitfall. Because, again, you're
534 00:46:46 --> 00:46:51 trying to trade for notoriety. And for the sake of being a celebrity versus I'm
535 00:46:51 --> 00:46:57 trying to trade so I can make money. I'm trying to trade. So I don't have to go
536 00:46:57 --> 00:47:03 back to having to have a job. I'm trying to leave a employment that may be very
537 00:47:03 --> 00:47:06 beneficial to me, and my family may help. They may offer all kinds of
538 00:47:06 --> 00:47:10 insurances. They may offer all kinds of benefits. But guess what, if you can
539 00:47:10 --> 00:47:13 trade profitably, you can afford those things too. And it's a tax write off for
540 00:47:13 --> 00:47:18 you. It's a tax write off for your employer to give that to you. When
541 00:47:18 --> 00:47:23 you're when you're self employed, you can create all these other income
542 00:47:23 --> 00:47:27 streams. Whereas a lot of things like writing off a lot of specific things
543 00:47:27 --> 00:47:32 trading in itself can't do that. It's not legal to do that. It's not like you
544 00:47:32 --> 00:47:35 can't write off your commissions. You can't write off commission to something
545 00:47:35 --> 00:47:43 you just can't deduct that. Well, if you create a secondary entertainment, AD,
546 00:47:43 --> 00:47:49 educational type thing, or a vlog, where you just basically share your life and
547 00:47:49 --> 00:47:55 experience as a trader. Well, guess what? Everything you do now, you can go
548 00:47:55 --> 00:47:59 out to eat 50% of everything you spend on food is a write off unless you do
549 00:47:59 --> 00:48:06 catering, which is 100%. Right off, you can go and show your homes. You can show
550 00:48:06 --> 00:48:15 your cars, your boats, your ATVs, your travel expenses are 100% right off. When
551 00:48:15 --> 00:48:20 I go and I travel, I stay at the nicest place all the time. And if they have
552 00:48:20 --> 00:48:25 hotels that have the restaurants, I want to be in those the highest end
553 00:48:25 --> 00:48:31 restaurants. And I don't care about what it costs. I don't care about tipping
554 00:48:31 --> 00:48:36 lavishly because all of that is going to lower my taxable income that's coming
555 00:48:36 --> 00:48:41 through that secondary income stream. So all these things I get paid to drive my
556 00:48:41 --> 00:48:46 Corvettes that I own. I don't rent them. I don't lease them. Okay, my 2019 I
557 00:48:46 --> 00:48:49 started as a company lease, I paid $13 a month for it. When the lease was
558 00:48:49 --> 00:48:53 finished. I bought it outright. I still have it. If you want to see it, I'll
559 00:48:53 --> 00:48:59 take it for a ride. But I own all my cars, okay, but I maximized the riding
560 00:48:59 --> 00:49:07 off of it. And then for the car like the 2021 I depreciated the RV that I paid
561 00:49:07 --> 00:49:13 almost $300,000 For I'm in depreciation on that. I show it. It's part of my
562 00:49:13 --> 00:49:18 lifestyle. When I'm out gallivanting around in it, and I'm making videos, I'm
563 00:49:18 --> 00:49:23 working from it. So I'm paid to have that vehicle. Whereas if you out and you
564 00:49:23 --> 00:49:28 working at a good career job, and you're doing all this wonderful stuff, and even
565 00:49:28 --> 00:49:32 if you do very well you can't write off those types of things. When you buy a
566 00:49:32 --> 00:49:37 car. You are eating it. When you put gas in your car. You're eating it that's a
567 00:49:37 --> 00:49:41 write off for me. Why? Because I have a social media presence.
568 00:49:43 --> 00:49:46 See the difference? Why do I do this? Because I'm financially literate eat
569 00:49:46 --> 00:49:49 dumb fucks the people are sitting on the sidelines talking Oh, why do you have a
570 00:49:49 --> 00:49:55 YouTube to be so profitable? Because the tax treatment in this you can't do that
571 00:49:55 --> 00:49:59 with your trading and doesn't matter how much money you make? You're fucking
572 00:49:59 --> 00:50:03 stupid. Your book, man, the bottom line is there's a different way of living.
573 00:50:03 --> 00:50:07 When you're financially illiterate, everything that people do that you don't
574 00:50:07 --> 00:50:11 understand, because you're fucking broke. you're critiquing other people,
575 00:50:11 --> 00:50:16 not just me, anyone else, you're you're literally broke, you have no idea what
576 00:50:16 --> 00:50:20 you're talking about, you're not have you have any capacity to understand the
577 00:50:20 --> 00:50:25 benefits of being an entrepreneur, outside of trading. There's so many
578 00:50:25 --> 00:50:31 benefits that this industry can provide for you, if you learn how to trade. You
579 00:50:31 --> 00:50:37 don't have to be making lots of money trading, just got to know how to trade
580 00:50:37 --> 00:50:41 and be profitable. If it replaces your job. Well, guess what, then you can be
581 00:50:41 --> 00:50:46 in a position to be in social media and let that income stream provide and it
582 00:50:46 --> 00:50:51 could be very, very profitable, very profitable. I've said this very
583 00:50:51 --> 00:50:57 candidly, I've made millions, millions and millions and millions more as an
584 00:50:57 --> 00:51:03 educator than I did as a trader. Because look, how many people follow me. Think
585 00:51:03 --> 00:51:07 about that, do the math, you're mathematically challenged. If you can't
586 00:51:07 --> 00:51:12 see that. I haven't taken millions of trades in my lifetime. I haven't done
587 00:51:12 --> 00:51:18 that. I haven't taken millions of trades. Do the fucking math here, folks.
588 00:51:18 --> 00:51:23 You're you're learning a skill set that opens the doors to so many other
589 00:51:23 --> 00:51:29 possible income streams and benefits by by doing those very things. For someone
590 00:51:29 --> 00:51:33 to sit on the sidelines, say, Oh, if he's so rich, but I was rich before I do
591 00:51:33 --> 00:51:39 that stuff. But now, when an accountant sits down, hey, you know, if you do
592 00:51:39 --> 00:51:46 this, you can reduce your taxable income. Okay, so what if I do this, this
593 00:51:46 --> 00:51:55 and this, this, you end up paying $25,000 a year in taxes? What? Yeah,
594 00:51:55 --> 00:52:03 $25,000 for federal and something for Maryland, but your income is $500,000.
595 00:52:04 --> 00:52:06 You can't do that with your fucking jobs, man, you can go to college, all
596 00:52:06 --> 00:52:11 you want, you'll never do that with your college education jobs, you'll never do
597 00:52:11 --> 00:52:17 it. And it's absolutely 100 Fucking percent legal. It's not tax evasion.
598 00:52:17 --> 00:52:22 It's the proper use of the tax code. It is what it is. And people are going to
599 00:52:22 --> 00:52:27 hate you. Because you're going to live a better lifestyle than them. And you're
600 00:52:27 --> 00:52:31 going to pay less taxes than them. And they're going to work next fucking
601 00:52:31 --> 00:52:40 Monday. All from what you're learning to do in these markets. So yeah, you
602 00:52:40 --> 00:52:45 should, if you have the aspiration to to have another income stream, you should
603 00:52:45 --> 00:52:49 tap into social media, you should do those things. But it shouldn't be the
604 00:52:49 --> 00:52:55 driving force behind it. You need to know how to do this well, trading,
605 00:52:55 --> 00:52:58 learning how to trade well. That's how you fortify this because guess what you
606 00:52:58 --> 00:53:05 can do with this. You can do a signal service, if you're inclined to do that.
607 00:53:05 --> 00:53:10 And that is extremely profitable. I did a social media experiment on Twitter
608 00:53:10 --> 00:53:15 before I left it. I said, knowing what I do, and seeing how I trade if I was able
609 00:53:15 --> 00:53:19 to show this to you in a live setting. You're a part of community, but I'm
610 00:53:19 --> 00:53:23 gonna charge you 500 hours a month. I'm not doing this, folks. I'm just saying,
611 00:53:23 --> 00:53:30 I'm just saying this is what it's like. I had 1000s of people. In this first
612 00:53:30 --> 00:53:35 day. I don't even know what the Twitter. The tweet is now where people were like,
613 00:53:35 --> 00:53:38 Yeah, I want to sign up. I still get emails every day. I wish I would have
614 00:53:38 --> 00:53:41 done it now. But people are like, hey, I want to sign up to your signals. I don't
615 00:53:41 --> 00:53:44 have a signal service. I'm not on Instagram. There's people over here
616 00:53:44 --> 00:53:47 claiming they have the official Instagram account of me. No, I did open
617 00:53:47 --> 00:53:51 an account, it was hacked. I said fuck them, I'm not gonna go back on air
618 00:53:51 --> 00:53:55 again. If they're gonna, if they're gonna let that happen. And I'm not
619 00:53:55 --> 00:53:58 worried about I don't need to be on Instagram. I'm right here. This is my
620 00:53:58 --> 00:54:04 social media presence right here, YouTube. I can talk through, you know,
621 00:54:04 --> 00:54:08 talk to through the community posts, and I can do live streams. Okay, it's the
622 00:54:08 --> 00:54:12 same thing I was doing over Twitter. Nothing is so time sensitive that you
623 00:54:12 --> 00:54:18 need to have it right away tweet like it was over there. But social media can be
624 00:54:18 --> 00:54:23 an income stream that you can maximize. And you get the tax benefits that you
625 00:54:23 --> 00:54:28 can't get as a trader, you can make lots and lots and lots of money trading Yes.
626 00:54:29 --> 00:54:34 But you can't write your boat off. You can't write your cars off. You can't
627 00:54:34 --> 00:54:37 write your food off. You can't do all those types of things. But if you have a
628 00:54:37 --> 00:54:41 secondary income stream where your presence online and it can be very
629 00:54:41 --> 00:54:46 subtle, where you're not even that active. You just share things, you know
630 00:54:46 --> 00:54:49 actually teaching anything. So here's a trade I took. Okay, if you have a
631 00:54:49 --> 00:54:54 following the purpose of you showing what your lifestyle is like as soon as
632 00:54:54 --> 00:54:58 you start showing your personal things, that becomes part of your image, your
633 00:54:58 --> 00:55:04 clothing, your house Using all these things, your your utilities, part of
634 00:55:04 --> 00:55:08 that becomes an expense that you can write off your home office. They give
635 00:55:08 --> 00:55:11 you a percentage that you can write on. Obviously, I can't write off my whole
636 00:55:11 --> 00:55:17 home. But there's a, there's a square footage that my accountant works out
637 00:55:17 --> 00:55:22 where this is what we say that you can write off as part of deduction. And you
638 00:55:22 --> 00:55:28 work towards all these types of things all year long. And everything I spend is
639 00:55:28 --> 00:55:33 maximized. And if I can't write it off, generally I won't buy it. I won't spend
640 00:55:33 --> 00:55:38 money on it. See that? That's financial literacy. Just because I have a lot of
641 00:55:38 --> 00:55:41 fucking money doesn't mean I go out there and blow like, some stupid ass.
642 00:55:42 --> 00:55:48 Buying up stuff. Spending money. He says you can is stupidity. But when you spend
643 00:55:48 --> 00:55:53 your money to be paid, using the very things that you're buying or and
644 00:55:54 --> 00:56:01 spending your money on. You look at how many cars I have. Well, you're not
645 00:56:01 --> 00:56:06 showing any Lamborghinis. You're not showing any McLaren's. I can't drive
646 00:56:06 --> 00:56:12 those cars in these streets up here because it'll beat them to death, too. I
647 00:56:12 --> 00:56:16 already worry with the Corvettes that I have because I don't want to get out of
648 00:56:16 --> 00:56:19 them and leave them because people in the world are assholes. Because they'll
649 00:56:19 --> 00:56:23 come down and they'll kill it. I've had it happen before. I would not feel
650 00:56:23 --> 00:56:30 comfortable leaving a McLaren anywhere. It just wouldn't happen. So, you know,
651 00:56:30 --> 00:56:33 this is these are opinions from people that are broke. They probably don't even
652 00:56:33 --> 00:56:36 have a fucking car to run around on a fucking bicycle. They stole two blocks
653 00:56:36 --> 00:56:42 from fucking where you live at. These mindsets are flawed thinking they're
654 00:56:42 --> 00:56:47 toxic thinking. And when you do get on a social media, even if you can trade
655 00:56:47 --> 00:56:51 well, even if you do open up your trading platform, you log in with the
656 00:56:51 --> 00:56:55 password and you go through day by day statements. They're gonna say that you
657 00:56:55 --> 00:56:58 never showed live trading, they're gonna say you don't make money. They're gonna
658 00:56:58 --> 00:57:03 say that it's all fake it these people are fucking idiots. But you're gonna
659 00:57:03 --> 00:57:10 dance to their drumbeat. I don't, I don't I pull strings and I make them
660 00:57:10 --> 00:57:15 dance. I make them watch themselves break their own brand in front of
661 00:57:15 --> 00:57:18 everybody, all with the intent that they're going to try to destroy the
662 00:57:18 --> 00:57:23 downfall of ICT. This is a fucking amazing downfall. I'm rolling up hill
663 00:57:23 --> 00:57:29 without any effort. See, see what happens. When you know what you're
664 00:57:29 --> 00:57:32 doing. And you're out here trying to help other people. You can't beat that.
665 00:57:33 --> 00:57:37 You can't beat that you can't defeat it. You can talk all the stuff that you
666 00:57:37 --> 00:57:44 want, but it never can beat it. It can't be diminished. It can't be tarnished.
667 00:57:44 --> 00:57:47 They can Photoshop they can make all the bullshit up they want. Okay, you see me
668 00:57:47 --> 00:57:55 live in a fucking shack, no. Loop. You see me unable to show you executions
669 00:57:55 --> 00:58:00 every fucking day, every single day I'm laying them out. They're just twisting
670 00:58:00 --> 00:58:06 the knife just twisting ever so slowly ICT I have fun with social media. But
671 00:58:06 --> 00:58:11 mostly you don't have the, the thick skin that I have. I can take a lot of
672 00:58:11 --> 00:58:17 stuff. Many you can't. And you'll be tore up from it. And it'll influence
673 00:58:17 --> 00:58:24 your trading decisions. And then you'll wrestle with trading, where you've never
674 00:58:24 --> 00:58:28 had that problem before, when it was private, when it was just you and your
675 00:58:29 --> 00:58:32 trading statements, what you did in the privacy of your own decision making
676 00:58:34 --> 00:58:38 those types of things you want to you want to hold on to that moment in your
677 00:58:38 --> 00:58:41 trading as long as you possibly can, even if you want to be in social media
678 00:58:41 --> 00:58:47 eventually, because you want to be able to lean on that. That is a very strong
679 00:58:47 --> 00:58:53 Fortress of Solitude. Knowing that you don't have to be on social media. I
680 00:58:53 --> 00:58:56 don't need to be in social media. I stepped away from Twitter, like I said I
681 00:58:56 --> 00:58:58 was but I said I would be here
682 00:59:03 --> 00:59:07 some of you don't like that. Some of you want me go back over to Twitter. I'm not
683 00:59:07 --> 00:59:13 going back over to Twitter. But everything that you do should be driven
684 00:59:13 --> 00:59:18 with the mindset that you are focused primarily on keeping your trading
685 00:59:18 --> 00:59:24 Excellent. Your efficiency, your execution and entry, your stop
686 00:59:24 --> 00:59:27 placement, your trade management, you're not over leveraging you're not trying to
687 00:59:27 --> 00:59:32 do the maximum outcome. And you're worried about capital preservation.
688 00:59:32 --> 00:59:37 Number one, first and foremost, is you're not trying to risk money
689 00:59:37 --> 00:59:42 needlessly, for the sake of being in here and seeing what happens, because
690 00:59:42 --> 00:59:44 I'm gonna save you some money and time and heartache. Here's what's going to
691 00:59:44 --> 00:59:48 happen. You're going to lose your ass. And that one trade is going to cause you
692 00:59:48 --> 00:59:52 to go into a tailspin and you're gonna blow your account, trying to rush to get
693 00:59:52 --> 01:00:00 it back. It happens all the time. Just Just don't do it, period and fine Link,
694 01:00:01 --> 01:00:07 lead dog Pitfall, everybody wants to be the lead dog. Everybody over on Twitter
695 01:00:07 --> 01:00:11 right now is clamoring to be the person everyone wants to talk about. It's silly
696 01:00:11 --> 01:00:16 in it. And I'm not even older anymore, and they're still bringing my name up.
697 01:00:18 --> 01:00:23 Here's the problem with this, okay? If you don't have the real the real skill
698 01:00:23 --> 01:00:29 to be lead dog. You're gonna be the one that tries to pretend to be lead dog.
699 01:00:29 --> 01:00:34 But guess what lead dog is the first one that falls into this, the pit, the snare
700 01:00:35 --> 01:00:41 runs into the obstacle that needs to determine what's the next pathway.
701 01:00:42 --> 01:00:46 Because you have a large falling behind you're you're trying to build one and
702 01:00:46 --> 01:00:50 you got to know where you're going. And most people out there pretending to be
703 01:00:50 --> 01:00:55 legal. They love having their asses sniffed. But they have no idea where
704 01:00:55 --> 01:01:01 they're going. They have no idea where they're going. So don't try I don't try
705 01:01:01 --> 01:01:08 to be leadoff. I don't try to be legal. I just, I'm me. And when I see bullshit,
706 01:01:08 --> 01:01:11 I'm going to call it bullshit. I'm going to tell you what works and what doesn't
707 01:01:11 --> 01:01:17 work for me. If I say I like something, I don't like something. Don't be so
708 01:01:17 --> 01:01:20 close minded. Say well, ICC said he doesn't like it. So therefore I'm gonna
709 01:01:20 --> 01:01:24 think like him. That's the stupidest thing in the world to do. That is called
710 01:01:24 --> 01:01:31 like, be critical. If I say I don't like something. Well, if it doesn't bother
711 01:01:31 --> 01:01:34 you, then just dismiss it. Who cares? Yeah, that's your opinion. It's
712 01:01:34 --> 01:01:39 wonderful. I didn't ask for it. But okay, we heard you. But if I say I don't
713 01:01:39 --> 01:01:44 like something, and this is the reason why I don't like it. Don't subscribe to
714 01:01:44 --> 01:01:49 that viewpoint, just simply because I said that. I made those mistakes as a
715 01:01:49 --> 01:01:55 martial artist as a young man, as a child listening to martial arts I like I
716 01:01:55 --> 01:02:00 looked up to, and they would say certain things. I'm like, Okay, I'm gonna think
717 01:02:00 --> 01:02:04 like you. And then I found out that I couldn't hold that opinion of what they
718 01:02:04 --> 01:02:09 had. And when I've when I first started trading, and learning how to trade
719 01:02:10 --> 01:02:14 everybody, I've read a book of, you know, I hung on every word that they
720 01:02:14 --> 01:02:18 wrote or said, Larry Williams was the one that I basically, I'm gonna be
721 01:02:18 --> 01:02:22 honest with you. When I read his how many million dollar trading commodities
722 01:02:22 --> 01:02:27 last year. And listen to those first four VHS I was convinced that this guy
723 01:02:27 --> 01:02:31 was a billionaire. I'm not a billionaire and somebody you think I have poor
724 01:02:31 --> 01:02:39 fucking trillions of dollars on my ass all the time. I'm not the facts are, you
725 01:02:39 --> 01:02:44 need to be an independent thinker. And you might have heroes. You might have
726 01:02:44 --> 01:02:50 people you look up to, but never meet them. Because the pedestal you put them
727 01:02:50 --> 01:02:55 on. They're undeserving of it. I'm undeserving of many of you think of me.
728 01:02:56 --> 01:03:02 I am a sinning foul mouthed person that wrestles with mental illness. Do you
729 01:03:02 --> 01:03:08 want to learn from me? See how hard of a cell that is? So I had to make videos,
730 01:03:08 --> 01:03:14 edit out those character flaws in me. So that way you could get past that to see
731 01:03:14 --> 01:03:18 that this is what you should focus on while learning how to trade. I've been
732 01:03:18 --> 01:03:21 there I've heard myself I've made lots of money and I've lost lots of money. So
733 01:03:21 --> 01:03:26 you tell me do you want to make the same fucking mistakes that I've done when you
734 01:03:26 --> 01:03:31 can avoid it? Here's what you can avoid doing don't do this don't do that. Do
735 01:03:31 --> 01:03:35 these things this is what helped me and I have students that are making money
736 01:03:35 --> 01:03:42 because they listen to this information a foul it worse the worst of the faulty
737 01:03:42 --> 01:03:49 in there's no there's no faulty logic, and it's based on real experience. It's
738 01:03:49 --> 01:03:56 based on an unadulterated completely candid, I did my own ass in trading
739 01:03:57 --> 01:04:03 other stupid shit that has no bearing on why price is gonna go up or down. So my
740 01:04:03 --> 01:04:09 whole life was how do I fortify those weak points in the fear? The triggering
741 01:04:09 --> 01:04:17 moments of what did I fear most about trading? Not knowing how to get in. I
742 01:04:17 --> 01:04:21 have so many ways to get into a trade now. It's unrealistic for you to have to
743 01:04:22 --> 01:04:26 have that many ways to get in but I that was a real thing for me. I was a phobia.
744 01:04:29 --> 01:04:34 I don't hide my mental illness. I don't hide it from you. When I was on baby
745 01:04:34 --> 01:04:39 pips, I was trying to hide it. I was trying very, very hard to hide it.
746 01:04:40 --> 01:04:45 Because I was afraid of it being used against me. And people still do. But you
747 01:04:45 --> 01:04:51 know, I can't change it. I can't fix it. So I have to wrestle with it live with
748 01:04:51 --> 01:04:55 it. I'm a real person just like you are. I have real things going on my personal
749 01:04:55 --> 01:04:58 life that I have to worry about and wrestle with have chosen to don't want
750 01:04:58 --> 01:05:02 to listen to me just like you do, or if you have children or will have children,
751 01:05:02 --> 01:05:07 you'll have the experience to they're not going to do what you tell them to
752 01:05:07 --> 01:05:13 do, which is good advice. Don't do this. Don't do that. If you get a flat tire to
753 01:05:13 --> 01:05:16 my daughter, don't drive home, just tell me where you're at. And we'll get it
754 01:05:16 --> 01:05:20 taken care of. And they drive home. They tear up the tire completely in the ruin
755 01:05:20 --> 01:05:26 the rent. I told you don't drive it. Yeah, but I didn't want to sit where I
756 01:05:26 --> 01:05:30 was sitting. You were completely safe in a shopping center. Come on, it was
757 01:05:30 --> 01:05:37 daytime. Come on, right. It's common sense. But you know what it's like when
758 01:05:37 --> 01:05:40 you don't listen. That's how you don't trade on non farm payrolls Friday days?
759 01:05:40 --> 01:05:44 And what do you do want to see what happens? And then you're sending me
760 01:05:44 --> 01:05:50 emails, I wish I would have listened. So I mean, I get it. I mean, I get it. You
761 01:05:50 --> 01:05:55 want to be the exception, but that lead dog pitfall? The, it ain't never going
762 01:05:55 --> 01:05:58 to happen to you. And you're going to be the one that rises to the occasion. And
763 01:05:58 --> 01:06:04 you're going to have all the answers. Man, I prematurely thought I had all the
764 01:06:04 --> 01:06:10 answers. In the 90s, I thought I had them all figured out then. And I didn't.
765 01:06:10 --> 01:06:16 And I started teaching way before I knew what the hell I was doing. And I was
766 01:06:16 --> 01:06:23 discovering things while teaching that were actual weaknesses on me. And then I
767 01:06:23 --> 01:06:28 had to fortify those weak areas in my trading with protocols, processes,
768 01:06:29 --> 01:06:34 things that fill in the blank that I had a real phobia about. And the thing
769 01:06:34 --> 01:06:40 primarily was, how do I know when to buy? Because I didn't want to be a short
770 01:06:40 --> 01:06:43 seller. So I had to figure out what were the catalysts that make me feel
771 01:06:43 --> 01:06:50 confident that I can buy that market, knowing that it's not likely to drop. So
772 01:06:50 --> 01:06:55 if I can figure out when the time that I have to do is sit around and wait for
773 01:06:55 --> 01:06:59 those conditions, and then when I do press the button, I'm just going to hold
774 01:06:59 --> 01:07:06 on to it until it vents them, I will. That became the secondary thing. I would
775 01:07:06 --> 01:07:12 force my will on the marketplace. So I had to learn that even though I might
776 01:07:12 --> 01:07:16 have all those things in line that says I have a good buying opportunity. And
777 01:07:16 --> 01:07:20 it's meeting all the criteria that I had at the time, which was myopic, don't
778 01:07:20 --> 01:07:24 don't think that I had it figured out back then because I did. That was the
779 01:07:24 --> 01:07:31 early stages of me just falling in love with being right. That's a problem. But
780 01:07:31 --> 01:07:34 at the time, you think that their strengths, you think that they are the
781 01:07:34 --> 01:07:37 characteristics that make you a warrior, you're gonna go out there, no one's
782 01:07:37 --> 01:07:41 gonna hold you back. I'm going to be that I'm going to be everybody else's
783 01:07:41 --> 01:07:48 results. I'm going to be the person I'm going to be lead dog. And I put myself
784 01:07:48 --> 01:07:57 through so much shit. Losing accounts, blowing accounts, losing wonderful wins.
785 01:07:57 --> 01:08:04 Work for a whole month building up equity. No losing days, none. In in one
786 01:08:04 --> 01:08:11 day. That starts off picture. Perfect. I put the trade on. Bond starts shitting
787 01:08:11 --> 01:08:16 the bed I'm long. Like what the hell is this? Alright, it's just dropping
788 01:08:16 --> 01:08:20 against a little bit. I'm gonna buy more of it up it's dropping a bit more I
789 01:08:20 --> 01:08:23 don't know where to place a stop loss. But I'm right. So let me take the stop
790 01:08:23 --> 01:08:30 loss off. Well unit ended up the account blown. I've wrestled arm wrestled the
791 01:08:30 --> 01:08:38 entire day, from the opening bell bonds, trying to be long on a day that opened
792 01:08:38 --> 01:08:45 at the high and just kept going down. Never had one tick above the opening
793 01:08:45 --> 01:08:49 price. And I was wrestling with that. As a 20 year old when you think your shit
794 01:08:49 --> 01:08:54 doesn't stink. You're the caca walk. You made money all month long, no losing
795 01:08:54 --> 01:08:59 days. The Friday the ends the trading of that month.
796 01:09:00 --> 01:09:08 All that's gone. And the account. That's demoralizing. That's demoralizing. And
797 01:09:08 --> 01:09:12 that people that come up in this industry and they tell you they fucking
798 01:09:12 --> 01:09:20 never blew an account. They're full of fucking shit. They are liars. They are
799 01:09:20 --> 01:09:24 liars. There is no progeny that walks out there in this world. They were
800 01:09:24 --> 01:09:28 touched by the grace of God, and they've never blown an account. That's never
801 01:09:28 --> 01:09:33 happened. It's never happened like that. Everybody. Everybody has done that.
802 01:09:35 --> 01:09:38 Anybody that claims they never have done that. They are liars or they just start
803 01:09:38 --> 01:09:44 and just wait around for this gonna happen. It's human nature, folks. You do
804 01:09:44 --> 01:09:46 this long enough. You're gonna think that you figured it all out. And then
805 01:09:46 --> 01:09:51 when you find out you won't have it right. You want to use the magic eraser
806 01:09:51 --> 01:09:55 and get rid of that red day and you're willing to do anything. You're willing
807 01:09:55 --> 01:10:03 to pay any commission level, right any to try to get back to eat And you'll
808 01:10:03 --> 01:10:08 spend 6500 hours on commissions just so you don't have a losing day. I actually
809 01:10:08 --> 01:10:15 do stuff like that. I used to do this stupid shit, I used to do it. But
810 01:10:15 --> 01:10:22 there's a better way, there's a more efficient, less stress way to do it.
811 01:10:24 --> 01:10:29 It's gonna require effort, it's going to take diligence and organization, and a
812 01:10:29 --> 01:10:32 level of commitment to falling roles that you're usually not used to doing,
813 01:10:33 --> 01:10:40 which makes this business very, very hard. You want to have it easy. Trading
814 01:10:40 --> 01:10:46 will and can be easy. It is it really is easy. If you're waiting for the choices,
815 01:10:46 --> 01:10:51 days to trade, where the market structures, so in favor of running to a
816 01:10:51 --> 01:10:56 specific pool of liquidity, or inefficiency, everything moving in one
817 01:10:56 --> 01:11:02 tandem direction. Everything being symmetrical, everything being so
818 01:11:03 --> 01:11:06 telegraphed that it's going to do this very thing, all you have to do is simply
819 01:11:06 --> 01:11:14 wait for it. Those conditions is what I taught you. The problem is, you're
820 01:11:14 --> 01:11:17 trying to force that, just because you're sitting in front of the charts, I
821 01:11:17 --> 01:11:20 said, he said the silver bowl happens between 10 o'clock and nine o'clock. So
822 01:11:20 --> 01:11:28 I'm sitting down, and it's 1001. So I'm looking at the country. where's the
823 01:11:28 --> 01:11:34 where's the problem there, you're forcing it, you're chomping at the bit.
824 01:11:34 --> 01:11:45 And your desire is forcing you to invite your will on the market. You already see
825 01:11:45 --> 01:11:50 yourself being accomplished in finding the right setup, because you know what's
826 01:11:50 --> 01:11:55 coming. But you might be looking at a two minute chart, it might not really be
827 01:11:55 --> 01:11:59 there, you might be looking at the one minute chart, and it might not be there.
828 01:11:59 --> 01:12:05 it materializes on a 15 second chart. Oh man, see, he's always got an out No, I
829 01:12:05 --> 01:12:10 have lots of ways to get in. It my silver bullet may not be on the one
830 01:12:10 --> 01:12:16 minute chart and may have been on a 32nd chart. I may have missed the exit, or
831 01:12:16 --> 01:12:21 I'm sorry, the entry point on a silver bullet that I really would have been
832 01:12:22 --> 01:12:27 better suited to enter because I was chasing a puppy. Or I walked away to
833 01:12:27 --> 01:12:31 grab a drink or, you know, there's packages left in front of my door, I got
834 01:12:31 --> 01:12:34 to bring them in because my wife saying I'm not home right now. And I just got
835 01:12:34 --> 01:12:38 an alert saying that Amazon dropped off packages, please, please bring them in,
836 01:12:38 --> 01:12:45 like we live in a bad neighborhood. So these are all distractions. And because
837 01:12:45 --> 01:12:49 I'm watching a very small timeframe. That point at which I'm trying to enter
838 01:12:49 --> 01:12:54 May, I may have missed it. Oh, it's big, no big deal. If I miss it on one minute
839 01:12:54 --> 01:12:58 chart, I'll drop down to a 32nd 15 second five second chart. And then I'll
840 01:12:58 --> 01:13:01 use a fair value gap on that I'm not missing the move, folks. I'm not going
841 01:13:01 --> 01:13:08 to miss the majority run of whatever I'm looking for. I may miss that pristine
842 01:13:08 --> 01:13:12 entry point. And see for some of you while you're new, you think because you
843 01:13:12 --> 01:13:17 missed that point of entry. It's done when I tell you if you miss it to simply
844 01:13:17 --> 01:13:24 wait and watch it. That's teaching you patience. You don't have that when you
845 01:13:24 --> 01:13:28 first start you don't have patience because you're trying to chase the lead
846 01:13:28 --> 01:13:31 dog whether it be me somebody else that saying they make him money someone
847 01:13:31 --> 01:13:34 else's to doing something in our live stream someone else is doing signal
848 01:13:34 --> 01:13:39 service someone else is doing whatever you're constantly trying to run when
849 01:13:39 --> 01:13:45 it's better for you in the beginning to learn to sit still. Observe how are you
850 01:13:45 --> 01:13:50 thinking about the marketplace? Do you feel like this insatiable desire that
851 01:13:50 --> 01:13:55 you got to be in there today? Like come hell or high water even if you only get
852 01:13:55 --> 01:13:59 five handles of the 30 handle run if you just get a piece of it, you know, at
853 01:13:59 --> 01:14:05 least you got something you took you took a bite of the beast that you've
854 01:14:05 --> 01:14:12 been hunting that's a hyenas approach you know I don't I don't trade like a
855 01:14:12 --> 01:14:18 hyena are out there cackling and in making crazy noises and shit. Trying to
856 01:14:18 --> 01:14:25 get a snap a bite of something. I'm out there, literally stocking in waiting.
857 01:14:26 --> 01:14:31 And when I see the weak one in the herd, the Judas swing the sea, the retail
858 01:14:31 --> 01:14:36 traders thinking that they got something that's easy money for them. If that's
859 01:14:36 --> 01:14:42 100% diametrically opposed to what I'm anticipating in price. I'm running that
860 01:14:42 --> 01:14:47 fucker down. And I'm going home with a full belly. And I'm not second guessing
861 01:14:47 --> 01:14:51 it. I'm not worried about what other people are doing. What they think's
862 01:14:51 --> 01:14:55 making the market go up or down what the volume profile said what volume node
863 01:14:55 --> 01:14:59 they're looking at what point of control what V whap. What fucking supply and
864 01:14:59 --> 01:15:02 demand zone what else Get wave count is, I don't give a fuck about none of that
865 01:15:02 --> 01:15:10 stuff. I know exactly what I'm looking for. I'm not worried about anything
866 01:15:10 --> 01:15:17 else, I'm dialed in. I knew exactly what I'm hunting, I got my eyes set on it,
867 01:15:17 --> 01:15:25 and I'm gonna run it down. And I'm taking it home. That's not arrogance.
868 01:15:26 --> 01:15:32 That's not narcissism. That's absolutely defined as confidence, because I've been
869 01:15:32 --> 01:15:37 here enough times to know that what I'm doing works, I don't need to change it.
870 01:15:38 --> 01:15:42 I don't need to look at somebody else to help me make it better. I'm not looking
871 01:15:42 --> 01:15:48 at any retail wise, because it's not even in there. I'm attacking that. I am
872 01:15:48 --> 01:15:55 apex predator is attacking the weakest form of trader in this industry at a
873 01:15:55 --> 01:16:01 time when they're making their actions known. This is what I'm going to do Mr.
874 01:16:01 --> 01:16:05 Six months of experience. And that's not a knock against anyone that has little
875 01:16:05 --> 01:16:10 experience. But if someone's going to be so courteous enough to say, Hey, I
876 01:16:10 --> 01:16:14 believe this is what's going to happen. Where do they? Where do they commonly
877 01:16:14 --> 01:16:20 where they where they congregate, and and meet up on live streamers, live
878 01:16:20 --> 01:16:27 streams. That's a beautiful resource. It's a beautiful resource, you should
879 01:16:27 --> 01:16:32 encourage him to do it show up, if that's what I'm doing when I talked
880 01:16:32 --> 01:16:35 about top step. And I talked about Patrick Whelan, when I talk about trades
881 01:16:35 --> 01:16:40 by Matt. And there's a couple other people I want mentioned. They have
882 01:16:40 --> 01:16:47 really, really opinionated chat windows. And when I say things like that, it's
883 01:16:47 --> 01:16:52 very easy for people to have an issue with me, they want to try to paint me in
884 01:16:52 --> 01:16:58 a different light. I'm telling you, that market sentiment is a thing. It's real.
885 01:16:59 --> 01:17:03 Okay. If you've got a top step, they're basically telling you that they're
886 01:17:03 --> 01:17:07 looking at their traders. And how many are net long? How many net short? Are
887 01:17:07 --> 01:17:12 they assholes for making them available? No, I think it's great. It's absolutely
888 01:17:12 --> 01:17:17 great information. It doesn't mean that that's a selling signal or a buy signal.
889 01:17:18 --> 01:17:23 It just, that's a good sentiment read. But the better one is what they're
890 01:17:23 --> 01:17:29 saying in that chat window. Because if I already know that, predominantly, most
891 01:17:29 --> 01:17:34 traders are offside, okay, whether they're trading in the tops that
892 01:17:35 --> 01:17:39 company, but they're trading in other companies, I just can't think of any
893 01:17:39 --> 01:17:47 other company's name. But if this resource is made available to you, it's
894 01:17:47 --> 01:17:54 like a watering hole. Just like on the on the plains of Africa, okay, I'm this
895 01:17:54 --> 01:17:59 fucking cheetah. I'm hungry. I'm trying to get it fucking meal today. So I'm
896 01:17:59 --> 01:18:07 looking out here in the dry landscape in front of me. I want to get something to
897 01:18:07 --> 01:18:10 eat. So where am I gonna go, I'm gonna go through the fucking drive thru.
898 01:18:10 --> 01:18:15 Whereas at the watering hole, so they go out there and they lay down in the
899 01:18:15 --> 01:18:22 brush. And they watch all the animals go out there and get a drink. Eventually,
900 01:18:22 --> 01:18:25 one's going to walk over there with a bum leg.
901 01:18:26 --> 01:18:32 But they have the opinion that they're safely going to make it to the watering
902 01:18:32 --> 01:18:35 hole, get a drink and live on the rest of the day. That's what their sentiment
903 01:18:35 --> 01:18:39 is. And they're making it known to everybody by walking out there publicly.
904 01:18:39 --> 01:18:42 Well as the same mindset as these individuals that share their opinion.
905 01:18:43 --> 01:18:49 They're going to these, these watering holes. To me, that tells you it's a
906 01:18:49 --> 01:18:54 pretty safe bet that they're probably very new to trading. And if they're very
907 01:18:54 --> 01:18:59 chatty, the same names that keep coming up. They're the ones that absolutely
908 01:19:00 --> 01:19:04 don't know what you're talking about, because they can't shut up. They're
909 01:19:04 --> 01:19:08 chatty, the chattiest ones that show their opinion. Start paying attention to
910 01:19:08 --> 01:19:14 those individuals online to not just simply in chat windows, on Twitter, on
911 01:19:14 --> 01:19:19 Instagram, on Facebook, whatever whatever resource if you're in discord,
912 01:19:19 --> 01:19:23 I don't go to any of those types of things. But in for clarity, also, I
913 01:19:23 --> 01:19:28 don't have Facebook, I do not have Instagram. I am not on Discord. You're
914 01:19:28 --> 01:19:31 not going to talk to me on telegram. I don't have any other social media where
915 01:19:31 --> 01:19:34 you're going to be able to engage with me, except for my YouTube channel.
916 01:19:35 --> 01:19:39 That's it. There's nothing else if you see anybody else pretending to be me.
917 01:19:39 --> 01:19:44 They're fucking liars. And if they're asking for money, it ain't me. So by
918 01:19:44 --> 01:19:50 watching these individuals online and when they share their opinion about
919 01:19:50 --> 01:19:57 what's going to happen or if they cosign someone else's opinion. If that is
920 01:19:57 --> 01:20:00 diametrically opposed, that means it's awesome. Sit to what I think is going to
921 01:20:00 --> 01:20:04 happen on the day. If I think it's going to be a bullish day, it's going to run
922 01:20:04 --> 01:20:08 for some, some buyside liquidity above an old high or relatively equal highs,
923 01:20:08 --> 01:20:12 or if I think it's going to reach up to a fair value gap. If that's what I'm
924 01:20:12 --> 01:20:17 holding to as my expectation on the day, I'm going to side with that all the
925 01:20:17 --> 01:20:21 time, I got 30 years of doing this, these individuals are hanging out in the
926 01:20:21 --> 01:20:26 chat windows of these prop firm companies, chances are, they're probably
927 01:20:26 --> 01:20:31 not long term traders, the chances of them being profitable is very slim. And
928 01:20:31 --> 01:20:35 they're in there because they want other people to tell them what they should do,
929 01:20:35 --> 01:20:39 because they don't know what they're doing. But because they want to be part
930 01:20:39 --> 01:20:43 of something, the mindset is this, if I start talking a lot, it's going to feel
931 01:20:43 --> 01:20:46 like I'm part of the crew. But really, what you're doing is you're running out
932 01:20:46 --> 01:20:49 to that one hole with a bum leg and part of your asset missing. That means I'm
933 01:20:49 --> 01:20:55 gonna run you down easy. You're an easy meal for me. Dollar Menu, here you go.
934 01:20:55 --> 01:21:02 real cheap, easy meal. And if you're telling the world on that stage, that
935 01:21:02 --> 01:21:05 this is what you think's going to happen. You're going to make it to the
936 01:21:05 --> 01:21:09 watering hole and get delayed the rest of the day. I'm going to be there at
937 01:21:09 --> 01:21:13 that watering hole eating your ass. Okay, I'm gonna devour you right there.
938 01:21:13 --> 01:21:18 You're done. I'm fed, you're done. It's a mercy killing. That's how I look at
939 01:21:18 --> 01:21:22 it. I don't have a problem with it. I don't wrestle with it morally, it is the
940 01:21:22 --> 01:21:26 way it is. The food chain is what it is. You're either an apex predator, or your
941 01:21:26 --> 01:21:33 assets prey. And I'm not getting eaten by nobody. Nope. I'm going to sharpen my
942 01:21:33 --> 01:21:40 claws every day. I'm going to keep my teeth sharpest, longest. And I want to
943 01:21:40 --> 01:21:47 make sure I eat. So how do you do that? You couple yourself with the weakest
944 01:21:47 --> 01:21:51 form of trader and use them as Counterparty. That's the whole essence
945 01:21:51 --> 01:21:56 of what sentiment is. That's what the benefit of market sentiment is looking
946 01:21:56 --> 01:22:03 for the weakest mindset and the most apt to be wrong to be suggesting a direction
947 01:22:04 --> 01:22:10 that is opposed to what you with more experience, more track record more
948 01:22:10 --> 01:22:16 accuracy is against when that armwrestling match is going on between
949 01:22:16 --> 01:22:18 Smart Money, someone that's been doing it for a very long time. And we think
950 01:22:18 --> 01:22:23 about there's nothing out there in the world that would ever entice me to go
951 01:22:23 --> 01:22:27 out there and grab a golf club and spend a whole afternoon trying to put a ball
952 01:22:27 --> 01:22:30 in a fucking hole. I know I can't do that. I know I can't do it. I'm not
953 01:22:30 --> 01:22:34 going to hang around people that do it. I'm not gonna waste my time doing it.
954 01:22:34 --> 01:22:37 And I sure as hell, I'm not going to watch it on TV. But people do it. They
955 01:22:37 --> 01:22:44 love it. Okay, so if I was go out there and try to golf against like, Tiger
956 01:22:44 --> 01:22:49 Woods, and I would look like an idiot. There's no way I would even do that.
957 01:22:49 --> 01:22:53 Okay, but that's the equivalent. In my mind, when I see someone that is green,
958 01:22:53 --> 01:22:56 they're brand new, they have no idea what you're talking about or doing. And
959 01:22:56 --> 01:23:00 they're not profitable. But they're always chatting it up, what they think
960 01:23:00 --> 01:23:05 the mark is going to do. Just sit back for a week and watch them you'll see the
961 01:23:05 --> 01:23:12 people that do it. And then fade them. When the market is poised based on what
962 01:23:12 --> 01:23:21 I teach. It's near perfect setups. It's near perfect. I use them like a retail
963 01:23:21 --> 01:23:27 Squawk Box. And some of you are sending comments to me and you say I'm a dick.
964 01:23:28 --> 01:23:31 I'm an asshole. I'm a narcissistic prick. Because I'm saying this. I'm
965 01:23:31 --> 01:23:39 giving you an advantage. Like it's a real time advantage. Because people are
966 01:23:39 --> 01:23:42 creatures of habit, if the people that are doing it, and they realize they're
967 01:23:42 --> 01:23:45 listening, and they're thinking, I'm not gonna do that anymore. It doesn't
968 01:23:45 --> 01:23:50 matter. PT Barnum said, there's a sucker born every second and guess what,
969 01:23:50 --> 01:23:54 somebody else is gonna fill that void you're gonna start talking to because
970 01:23:54 --> 01:23:58 they want to feel a part of something. And really what they want is someone to
971 01:23:58 --> 01:24:05 say I agree with you. Think about it. They want someone to say yeah, that's
972 01:24:05 --> 01:24:07 the right idea. And then they feel like they're accomplished. They're not taking
973 01:24:07 --> 01:24:10 any trades. They're not pushing any buttons, not even trading a demo
974 01:24:10 --> 01:24:14 account. But now what did they feel a sense of camaraderie, some sense of
975 01:24:14 --> 01:24:18 community, it gives them a purpose, which is the problem in the world right
976 01:24:18 --> 01:24:28 now. Because there is a lack of sense of self worth. Think about it. A lot of my
977 01:24:28 --> 01:24:32 students that follow me on YouTube, a lot of them have never had a fatherly
978 01:24:32 --> 01:24:36 figure in their life. They've never had anybody believe in them that nobody's
979 01:24:36 --> 01:24:40 ever encouraged them. And I'm dealing those types of things. That's why you
980 01:24:40 --> 01:24:44 feel like there is this report between us. You feel like I'm talking just to
981 01:24:44 --> 01:24:51 you. Because you came with a void that needs to be filled. And because I have a
982 01:24:51 --> 01:24:54 genuine interest in all of you succeeding, I'm not going to pull any
983 01:24:54 --> 01:24:58 punches. I'm not going to sugarcoat it. Because if you were my son or daughter,
984 01:24:58 --> 01:25:04 you would hear just like this You will hear just like this, I want you to know
985 01:25:04 --> 01:25:08 what it's going to be like it's going to be hard. It's going to be taxing, it's
986 01:25:08 --> 01:25:13 going to be an arduous task, it's going to be very, very difficult to go through
987 01:25:13 --> 01:25:20 in the beginning, but it's worth it. Because once you get this skill set I
988 01:25:20 --> 01:25:24 can do is wait around in the morning, in the late evening at the watering hole.
989 01:25:24 --> 01:25:30 That's the kill zones. See, the master of analogies. I'm never going to run
990 01:25:30 --> 01:25:35 Georgia. But this baker never runs out of yeast. But all these pitfalls,
991 01:25:35 --> 01:25:38 they're going to plague you and your development in the beginning. And then
992 01:25:38 --> 01:25:44 the longer you hold on to these types of thinking. In ignoring the benefits of
993 01:25:44 --> 01:25:49 listening, someone that has been doing it longer and better than you like, here
994 01:25:49 --> 01:25:55 we are, it's a Saturday, folks. I'm investing in you and giving you one of
995 01:25:55 --> 01:26:00 my secret weapons. What I'm doing when I listen to these live streamers, and they
996 01:26:00 --> 01:26:04 like to joke I'm here to get codes for resets. asked Michael Pathak if I've
997 01:26:04 --> 01:26:08 ever done anything with trying to get an account with them never will ever happen
998 01:26:08 --> 01:26:13 either. I'm not there to learn how to trade. I'm not there watching Patrick
999 01:26:13 --> 01:26:16 Whelan, learn how to trade and not watching trades by Matt to learn how to
1000 01:26:16 --> 01:26:22 trade. I love trades by Matt, his attitude on everything. He's chill shit.
1001 01:26:23 --> 01:26:27 He's got no drama with him. He's just just hanging out, never to say anything
1002 01:26:27 --> 01:26:33 bad about anybody else. And he's just does whatever he does win, lose whatever
1003 01:26:34 --> 01:26:38 it is what it is. He says, How are you gonna hate the guy? You know, I think
1004 01:26:38 --> 01:26:42 he's, I think he should listen to me too. I mean, the same advice I
1005 01:26:42 --> 01:26:47 mentioned. In the post, I made the past and I hope he he allows it the post
1006 01:26:47 --> 01:26:52 because it was encouraging and it wasn't anything to be speaking down to him. And
1007 01:26:52 --> 01:26:56 I don't want anybody to think that. He's a target. That should be trolled. Even
1008 01:26:56 --> 01:27:00 though he talks about me a lot. It's sharp talk, folks, I don't take any of
1009 01:27:00 --> 01:27:02 that kind of stuff. Unless you're talking about my family and make up
1010 01:27:02 --> 01:27:06 bullshit about me. I got no time for your nasil Okay, fuck you, you make a
1011 01:27:06 --> 01:27:09 bullshit, try to get some ad revenue, get the book out of here. Join the
1012 01:27:09 --> 01:27:11 Robins cup in because I'm telling I'm going to beat your fucking ass in it.
1013 01:27:11 --> 01:27:14 Okay, I'm going to rip your fucking head off and shove it straight your fucking
1014 01:27:14 --> 01:27:20 ass. But apart from that decade, I don't have any problems anybody else? I have
1015 01:27:20 --> 01:27:24 no problem. I can take shop talk a good ribbing from other people. It's fun.
1016 01:27:24 --> 01:27:29 It's fun. But when someone like Patrick comes out and says, Hey,
1017 01:27:31 --> 01:27:36 this is what I'm struggling with right now. That That right there. That
1018 01:27:36 --> 01:27:42 Garner's respect. Because he doesn't mean to make that public. He's not, he's
1019 01:27:42 --> 01:27:47 not obligated to share that level of detail. But yet he did. And I respect
1020 01:27:47 --> 01:27:51 that. That's the kind of stuff that needs to be shown. That kind of thing
1021 01:27:51 --> 01:27:58 needs to be revealed and say, hey, look, it's not easy. It's not easy at all. And
1022 01:27:59 --> 01:28:06 I would never try to punt a person that's doing that. I would never try to
1023 01:28:06 --> 01:28:10 knock against somebody that's doing that. Because they're not trying to
1024 01:28:10 --> 01:28:15 deceive you. They're telling, showing, basically, I'm trying my best. And this
1025 01:28:15 --> 01:28:19 is where I'm at right now. And I'm struggling. Me and that takes a lot of
1026 01:28:19 --> 01:28:25 courage. It takes a lot of respect for your audience, to say, hey, look, I
1027 01:28:25 --> 01:28:29 don't want you to look at me and see this, when in reality, I have this
1028 01:28:29 --> 01:28:34 because if someone is doing the opposite of that, that's a real piece of shit.
1029 01:28:35 --> 01:28:38 That's a real piece of shit, that tries to hide it, but pretend that they're
1030 01:28:38 --> 01:28:45 better than they really are. This this type of video, you know, it's the most
1031 01:28:45 --> 01:28:49 one I think he said, I'm down really bad or something like that. It's his, it's
1032 01:28:49 --> 01:28:52 his most releases. At the time of this recording. It's Saturday 10 o'clock in
1033 01:28:52 --> 01:28:58 the morning, Eastern Time. It's a real short video, 12 minutes. You know, like,
1034 01:28:58 --> 01:29:01 if you're a student of mine, you probably run into two times the speed.
1035 01:29:02 --> 01:29:06 It'll take you six minutes to get through it. But he covers a lot of
1036 01:29:06 --> 01:29:12 things that I have preached hard and fast, for a long, long time, are going
1037 01:29:12 --> 01:29:16 to be the very barriers that you're going to have if you do what he's been
1038 01:29:16 --> 01:29:20 trying to do. And in short, this is what I have said in his live streams
1039 01:29:20 --> 01:29:25 communicating to him. And I've made posts directly to him in his comment
1040 01:29:25 --> 01:29:31 sections on certain videos. And I've tried to encourage him to do things like
1041 01:29:31 --> 01:29:36 what I'm talking about here today. He has a following. His following would
1042 01:29:36 --> 01:29:42 grow exponentially if he stayed on track by doing what he did today, or last
1043 01:29:42 --> 01:29:48 night showing adversities because that allows the audience members to build a
1044 01:29:48 --> 01:29:51 report saying you know what, I'm not the only one that's struggling right now.
1045 01:29:53 --> 01:29:58 And because he has a built in audience that like him, I like him from his his
1046 01:29:58 --> 01:30:03 showmanship. I look at him as So, Randy Macho Man Savage, WWF character, you
1047 01:30:03 --> 01:30:07 know, I don't take anything that he says is serious. I don't take anything that
1048 01:30:07 --> 01:30:13 he says about me as a attack on me. It's fun. It's, it's, it's it's sharp talk,
1049 01:30:13 --> 01:30:15 it's limit, you're talking shit. It's like anything else if you're on a
1050 01:30:15 --> 01:30:18 football field, you know, the other players gonna talk to you a bit, you
1051 01:30:18 --> 01:30:24 know, get up to hit you that hard. It's just like that. I don't I don't need any
1052 01:30:24 --> 01:30:28 of you to defend me against these people. Okay, I have no problems, none
1053 01:30:28 --> 01:30:34 whatsoever with it. But I want to see this guy do better. And he has enough.
1054 01:30:35 --> 01:30:41 He has enough because I see an AOL America Online version of me. Okay, the
1055 01:30:41 --> 01:30:45 way he acts the way he talks and the way he brags and shit, and doesn't really
1056 01:30:45 --> 01:30:49 have the skill set yet to be like that. That's exactly what I was doing on
1057 01:30:49 --> 01:30:54 America Online. I talked like I had it, then I have it now. And you see, I have
1058 01:30:54 --> 01:31:00 it. But that then on America Online, I talked like I had it and I didn't. So I
1059 01:31:00 --> 01:31:06 see an opportunity for me to say hey, look, ICICI Jr. Because that's his
1060 01:31:06 --> 01:31:11 attitude. That was exactly how I behaved on America Online. If you listen to me,
1061 01:31:11 --> 01:31:15 like I'm looking like, I'm literally talking to my 20 year old self in him.
1062 01:31:16 --> 01:31:20 And a lot of you don't understand it, like, but it's a it's a project for me,
1063 01:31:20 --> 01:31:23 isn't it, it's like a piece of meat between my teeth and my tongue keeps
1064 01:31:23 --> 01:31:28 going back to I want to fix him. And he's being stubborn, because he doesn't
1065 01:31:28 --> 01:31:32 want people saying, you listen to it, and he's you're instructing your mentor.
1066 01:31:32 --> 01:31:37 You don't need to ever call me a mentor, this listen to good advice, it's all and
1067 01:31:37 --> 01:31:44 watch how it changes you for the better. Stop trying to trade. Once you get a
1068 01:31:44 --> 01:31:49 win, stop. Okay, I said this in my post to you that may or may not make it to
1069 01:31:49 --> 01:31:55 your comment section. Stop trying to trade with the maximum size. Stop trying
1070 01:31:55 --> 01:31:59 to cater to your students or viewers. Because you still have time in a day, if
1071 01:31:59 --> 01:32:03 you get out of a trade and you made money you made 2000 3000 4000 5000 or
1072 01:32:03 --> 01:32:07 whatever you made, stop, turn the trucks off, go get on your boat and enjoy the
1073 01:32:07 --> 01:32:13 rest of the day. Who in their right fucking mind would say, Dude, that's
1074 01:32:13 --> 01:32:16 failure, you're gonna have to make a couple $1,000 And then going out and
1075 01:32:16 --> 01:32:19 living your life and doing what you want to do. And you weren't even out here for
1076 01:32:19 --> 01:32:25 an hour. See, you're you're trying to cater, you're trying to cater to people
1077 01:32:25 --> 01:32:28 that are most likely not going to do shit with whatever you're doing. They're
1078 01:32:28 --> 01:32:31 not going to pay you for your service. They're in, you're listening, and most
1079 01:32:31 --> 01:32:35 of them are there to listen to you hopefully get it wrong. That that's
1080 01:32:35 --> 01:32:40 really what's going on. That's what social media is. Social media is really
1081 01:32:40 --> 01:32:44 a bunch of cannibalizing zombies that just want to see other people fall, so
1082 01:32:44 --> 01:32:49 they can laugh about it. That's all it is. So why cater to the majority. And
1083 01:32:49 --> 01:32:55 it's like that, when you can answer the itch that everybody else that likes you.
1084 01:32:55 --> 01:33:00 Once they want to see you share a positive experience, talk about where
1085 01:33:00 --> 01:33:03 you think the markets gonna go. And then when you execute on it, and you show
1086 01:33:03 --> 01:33:07 that I did this with my trade, I made money and now I'm done. I know I have
1087 01:33:07 --> 01:33:12 the tendency to self destruct if I stay here. I know I have a tendency to do go
1088 01:33:12 --> 01:33:15 in and do another trade when it's not obligated to you, I'm not obligated to
1089 01:33:15 --> 01:33:18 show you trades, I'm obligated to show you another winning trade. I'm not
1090 01:33:18 --> 01:33:21 obligated to do the afternoon session when I made money now. I didn't morning.
1091 01:33:22 --> 01:33:26 See, that's control of yourself, that's managing yourself, and it's managing
1092 01:33:26 --> 01:33:31 your audience. But you are allowing your audience to manage you. If I had every
1093 01:33:31 --> 01:33:36 request that's ever given of me. I would constantly be out here performing tricks
1094 01:33:36 --> 01:33:41 all the time doing shit all the time. I don't need to do that. I'm in control of
1095 01:33:41 --> 01:33:45 my audience. I dictate the pace, I dictate every aspect of whatever the
1096 01:33:45 --> 01:33:52 fuck I'm gonna do. I do that. Which gives me ultimately control of me as the
1097 01:33:52 --> 01:33:58 trader. Now a 20 year old ICT on America Online. Anybody asked me to do anything.
1098 01:33:58 --> 01:34:04 I was like a dancing bear in a carnival or circus. Like whatever was asked me I
1099 01:34:04 --> 01:34:11 was trying to do it. And I was never able to satisfy everyone in which was a
1100 01:34:11 --> 01:34:14 problem for me because I was trying to satisfy everyone. You are not going to
1101 01:34:14 --> 01:34:18 satisfy anyone or everyone rather. And if people talk shit about you, who gives
1102 01:34:18 --> 01:34:24 a shit they captured about you. Look at look at where you are. Look at what
1103 01:34:24 --> 01:34:29 you've accomplished. You have progress, even though you're saying you have a low
1104 01:34:29 --> 01:34:32 period right now. And this is the worst your training has been for the year.
1105 01:34:33 --> 01:34:37 Guess what? You're acknowledging it. You're talking about pumping the brakes.
1106 01:34:37 --> 01:34:43 That's exactly what you should do. Exactly what you should do. If you would
1107 01:34:43 --> 01:34:46 have said I'm gonna go out there and I'm gonna push even harder because I'm gonna
1108 01:34:46 --> 01:34:50 get out of this that would have been the worst fucking thing the thing that's
1109 01:34:50 --> 01:34:54 what I was afraid you were gonna say, but I was listening to you. I like good.
1110 01:34:54 --> 01:35:00 That's the right mindset. dial it back. cut short, your frequency of trading and
1111 01:35:00 --> 01:35:05 and take some time off. It's the holidays, folks. It is the holidays, you
1112 01:35:05 --> 01:35:10 want to make your holiday suck, try to make money, lose it. And then wake up
1113 01:35:10 --> 01:35:15 Christmas morning, you might see your children's smile and be bright. On
1114 01:35:15 --> 01:35:18 opening presents and gifts. It's such a joyful time to be together having meals
1115 01:35:18 --> 01:35:21 and being with your family. But you remember, you blow your fucking account
1116 01:35:21 --> 01:35:25 yesterday on Friday and for whatever it's going to, it's going to put a big
1117 01:35:25 --> 01:35:30 damper on all your holiday spirit. And you'll be faking it in the presence of
1118 01:35:30 --> 01:35:33 your family members. Because you're tore up because you lost something that can
1119 01:35:33 --> 01:35:38 easily be fixed. When you restart it again. Whatever amount of money you've
1120 01:35:38 --> 01:35:43 lost ever, all of that is easily recouped with interest, if you know what
1121 01:35:43 --> 01:35:48 you're doing. But in your mind, you think that I blew my account, I spent
1122 01:35:48 --> 01:35:51 this much money on funded account challenges, I blew this much money
1123 01:35:51 --> 01:35:55 putting it in real accounts. I've done this, I've done that I've done this,
1124 01:35:55 --> 01:36:01 I've done that. All add it all up. There's no money that you've spent, that
1125 01:36:01 --> 01:36:07 can't be made in the future. See, you've allowed those things that beat you down
1126 01:36:08 --> 01:36:11 and make you second guessed that anybody can be profitable, that you can't be
1127 01:36:11 --> 01:36:15 profitable. And you think that you have failed enough times, it's solidified in
1128 01:36:15 --> 01:36:18 your mind that you're a failure. So therefore I shouldn't even try. But you
1129 01:36:18 --> 01:36:21 just want to listen to other people because you can't let go of it. That
1130 01:36:21 --> 01:36:25 means you're a trader folks. That means you're a trader, it just means you use
1131 01:36:25 --> 01:36:28 listen to good advice, you didn't practice like you should have, you
1132 01:36:28 --> 01:36:31 didn't study like you should have you didn't journal. And you didn't give
1133 01:36:31 --> 01:36:35 yourself a real chance, you rushed into it just like I did. When I first
1134 01:36:35 --> 01:36:39 started, I've rushed into it. After four fucking weeks of just reading a book, I
1135 01:36:39 --> 01:36:42 thought I knew how to trade and I went out there and I lost 50% of my money.
1136 01:36:43 --> 01:36:48 Overnight, the first rate, that's who's talking to you, the same guy that you
1137 01:36:48 --> 01:36:53 watched, literally light it all up this week, in a condition in the market
1138 01:36:53 --> 01:36:58 environment that I don't generally trade in. And I'm doing it with a demo.
1139 01:36:58 --> 01:37:04 Because I'm teaching period. I'm not licensed to give you trade advice, I'm
1140 01:37:04 --> 01:37:06 not going to open myself up to liability, and I'm gonna give a shit how
1141 01:37:06 --> 01:37:10 many times people talk about in the comment section. Oh, it's demo. Okay,
1142 01:37:10 --> 01:37:16 you do it in demo. You're gonna watch me do it in real Robins cup next year? What
1143 01:37:16 --> 01:37:19 are you gonna say then? stupid thoughts. So
1144 01:37:21 --> 01:37:24 hopefully, you guys have done some personal inventory with this discussion
1145 01:37:24 --> 01:37:27 this morning to talk a little bit longer than I was supposed to. But that's
1146 01:37:27 --> 01:37:31 usually what happens around here and over deliver. But I'm not going to
1147 01:37:31 --> 01:37:35 charge you anything more, but the pitfalls and plagues that are covered
1148 01:37:35 --> 01:37:40 here, I really want you to think about them. Because I see a lot of it
1149 01:37:40 --> 01:37:45 happening on social media, a lot of it happening now on Twitter, they're all
1150 01:37:45 --> 01:37:50 rushing in to try to fill a void. And there's going to be a whole new supply
1151 01:37:50 --> 01:37:54 of people, they're going to be wanting to chase whatever lead dog barks
1152 01:37:54 --> 01:37:59 loudest. And I'm not saying that anybody that doesn't come up, that they
1153 01:37:59 --> 01:38:05 shouldn't be listened to. I'm just saying, think, think, are you really
1154 01:38:05 --> 01:38:10 seeing everything? Do you know these people? Do you know that they can trade?
1155 01:38:10 --> 01:38:17 Do you know that they have something that works do you have? Do you have the
1156 01:38:17 --> 01:38:21 funds to pay them for what they're going to ask you to pay them for? Because
1157 01:38:21 --> 01:38:28 really, there's that that is a big thing right now. And the new movement is
1158 01:38:29 --> 01:38:33 starting funding companies, I am not associated with any funded account
1159 01:38:33 --> 01:38:38 company, I would never be associated with any funded account company. But
1160 01:38:39 --> 01:38:45 it's equivalent to running a brokerage firm, that's fake when you have clients
1161 01:38:45 --> 01:38:50 deposit real money. And when they lose, and they've only been really given a
1162 01:38:50 --> 01:38:54 demo account, really, that operating under the guise of a demo. When they
1163 01:38:54 --> 01:38:58 lose money, the person that set up that shell company, they're just taking that
1164 01:38:58 --> 01:39:02 person's losses. That's how they're affording their land or Ferraris and
1165 01:39:02 --> 01:39:07 bullshit, because they're not making money trading. But there's a big window
1166 01:39:07 --> 01:39:11 of opportunity for that type of business. And there's millions available
1167 01:39:11 --> 01:39:17 to that. I would never ever set foot in that type of thing. I would never be
1168 01:39:17 --> 01:39:22 associated with any of that. And just look around, and you're gonna see a
1169 01:39:22 --> 01:39:26 whole lot more of that type of stuff. I'm not saying every person or
1170 01:39:27 --> 01:39:34 individuals that do it are shady, or that they're not trying to do what's
1171 01:39:34 --> 01:39:39 right. I'm just saying Just be careful. Because that's the biggest thing right
1172 01:39:39 --> 01:39:43 now I see the trend shifting to Well, I really don't have to trade because now
1173 01:39:43 --> 01:39:47 if I start a funded company, the chances of someone being successful and trading
1174 01:39:47 --> 01:39:54 is is very limited. And while you may get the individual outlier coming out
1175 01:39:54 --> 01:39:58 once in a while, it does really well to have to be paid out. The majority of
1176 01:39:58 --> 01:40:01 individuals that come in in their pay Paying for challenges and they're
1177 01:40:01 --> 01:40:05 failing and failing, that revenue is constantly coming in, that will offset
1178 01:40:05 --> 01:40:12 the few people that will ever join that company to get paid out. And the flavor
1179 01:40:12 --> 01:40:16 is also if there's someone extremely, wildly profitable. This was one of my
1180 01:40:16 --> 01:40:23 concerns, you know? Do I have students that eventually get banned? Because
1181 01:40:23 --> 01:40:28 they're just beating them up? And I don't know, I haven't had anybody come
1182 01:40:28 --> 01:40:33 forward and say, Yeah, ICT this is what this. And that's my interest, though,
1183 01:40:33 --> 01:40:36 like, I'm interested to see, because there's a lot of you that listen to me,
1184 01:40:36 --> 01:40:41 a lot of you trade with my concepts. And a lot of you do well. Would there ever
1185 01:40:41 --> 01:40:45 be a situation where there's so many people coming in? Like that was that
1186 01:40:45 --> 01:40:50 like I said, it's like the question I would ask if I was sitting down with all
1187 01:40:50 --> 01:40:57 the prop firm owners, say, like, what happens when there's a lot of winners.
1188 01:40:58 --> 01:41:04 And your model really, is based on the income stream that comes in by way of
1189 01:41:04 --> 01:41:09 the challengers being paid, paid for in that revenue that comes in, they use
1190 01:41:09 --> 01:41:12 that as their operating, and I might be wrong, but my understanding is, that's
1191 01:41:12 --> 01:41:19 what they do. But even if you have a really good, like, say, I went in there,
1192 01:41:19 --> 01:41:23 and I did a prop firm challenge, and then they gave me a funded account, and
1193 01:41:23 --> 01:41:28 I ran that fucker up to millions of dollars. That still wouldn't be enough
1194 01:41:29 --> 01:41:35 to pay out. When one just I mean, that's my opinion, I don't know, I have very
1195 01:41:35 --> 01:41:41 limited understanding about it. But I see a meal ticket that can be easily
1196 01:41:41 --> 01:41:48 tapped into, and just sit back and watch over the next six to 12 months, how many
1197 01:41:49 --> 01:41:55 new prop firms creep up by social media traders. That's all I'm saying, okay?
1198 01:41:55 --> 01:41:59 Because it's another way of fleecing individuals. Because if you put money in
1199 01:41:59 --> 01:42:03 into it, okay, and you're pouring money into challenges and challenging
1200 01:42:03 --> 01:42:08 challenges, like when you have a fake brokerage firm, and they put money into
1201 01:42:08 --> 01:42:14 it, if you lose, naturally, you thought you lost the money. But in reality, that
1202 01:42:14 --> 01:42:19 money was never placed in the marketplace. It was just worked with the
1203 01:42:19 --> 01:42:23 premise of it's like a demo account. If you win, okay, chances of you asking for
1204 01:42:23 --> 01:42:28 a withdrawal is next nil because everybody wants to run it up big. So
1205 01:42:28 --> 01:42:32 when you lose, you think, well, I lost it. So that person that runs that fake
1206 01:42:32 --> 01:42:35 brokerage account, they're just taking that money and depositing in their bank
1207 01:42:35 --> 01:42:40 account and paying for their Ferraris and paying for their bullshit Rolex.
1208 01:42:40 --> 01:42:46 Okay, all that's garbage. That's trash. Okay. I would feel like a piece of shit.
1209 01:42:46 --> 01:42:49 If I ever do anything like that. I would never even think to do things like that.
1210 01:42:50 --> 01:42:53 But I'm not saying all prop firms are like that. And I'm not saying all
1211 01:42:53 --> 01:42:57 brokerage firms are like that. But there's, there's a level of shakiness
1212 01:42:57 --> 01:43:00 that certain individuals on social media, that they they're putting their
1213 01:43:00 --> 01:43:08 hands in everything. And when they won't come out of there empty for. That's a
1214 01:43:08 --> 01:43:11 problem. Because if you're not a trade and you're making money, and you're a
1215 01:43:11 --> 01:43:17 millionaire, okay? You'll be able to do that in another brokerage account. You
1216 01:43:17 --> 01:43:22 know, I've shown profitability in taking trades with AMP global futures. That's a
1217 01:43:22 --> 01:43:27 real regulated broker in the United States. I traded with Thinkorswim. I
1218 01:43:27 --> 01:43:29 literally have it on this YouTube channel, and you can see me log into the
1219 01:43:29 --> 01:43:35 account. And I doubled the account in like five weeks using one contract. So
1220 01:43:36 --> 01:43:39 that's not even trying that was me answering a lot of questions from
1221 01:43:39 --> 01:43:42 students, what would you do if you got drawdown here? And how would you fix
1222 01:43:42 --> 01:43:45 this? I literally put the account in drawdown and showed me coming out of it
1223 01:43:45 --> 01:43:50 too. I went into 30% drawdown in one day and came right back out in the same day.
1224 01:43:50 --> 01:43:54 Like these are all questions that students that paid me where I am
1225 01:43:54 --> 01:43:58 obligated to answer their questions I'm obligated to answer by makes comments
1226 01:43:58 --> 01:44:02 questions. And I've heard personally, I can't answer every single question that
1227 01:44:02 --> 01:44:05 gets made to me. I have so many videos, and there's always new comments being
1228 01:44:05 --> 01:44:10 left on them. And also people email me that I can't get to because the email
1229 01:44:10 --> 01:44:15 queue is so long. I can't I can't cater to everybody. And I know sometimes that
1230 01:44:15 --> 01:44:19 it makes you feel like I'm ignoring you. Or you don't matter enough even some of
1231 01:44:19 --> 01:44:26 my paid students feel this way. Because there's so many of you now. So it's one
1232 01:44:26 --> 01:44:31 thing I wish I could do. I wish I could be more accessible I guess the way it
1233 01:44:31 --> 01:44:36 was the last one baby pets were anybody that would ever ask anything. It was
1234 01:44:36 --> 01:44:39 right then in there. When we were on baby pips, I would go into the chat room
1235 01:44:39 --> 01:44:43 and we would shut it down. Basically, the chat window or chat room would start
1236 01:44:43 --> 01:44:46 working. There's so many people that would come in, because I wanted to
1237 01:44:46 --> 01:44:50 answer questions. I wanted to have an interaction I want you to I want you to
1238 01:44:50 --> 01:44:55 learn. But now because the audience size being what it is, it's impractical. For
1239 01:44:55 --> 01:44:59 any of you to expect me to have a one on one type response into the guy that sent
1240 01:44:59 --> 01:45:05 me a Please help me be trained by you, I'll pay you 5000 hours. I'm not, I'm
1241 01:45:05 --> 01:45:13 not looking to get paid. And I'm not doing one on ones. So my time is being
1242 01:45:13 --> 01:45:19 given to you charitably. Because I want you to do well, there's no, there's no
1243 01:45:20 --> 01:45:25 currency exchange there. The way you pay me back is, listen, follow the
1244 01:45:25 --> 01:45:30 instructions, get your success, and then tell me what you do. That's all. That's
1245 01:45:30 --> 01:45:37 all is it's all I want, okay. And if you use my concepts, you just give me a nod.
1246 01:45:38 --> 01:45:41 So that when they everybody knows that it's a gift from God. Now, I'm not
1247 01:45:41 --> 01:45:46 saying I'm god, I'm saying, but it's, that's where it all came from. I want
1248 01:45:46 --> 01:45:52 him to receive all the glory, not me, I want him. And when I talk to you, like I
1249 01:45:52 --> 01:45:57 do today, it's in 10, for you to understand that you will feel like
1250 01:45:57 --> 01:46:01 you're the exception that all these things are happening to you, that's
1251 01:46:01 --> 01:46:05 holding you back, everybody went through it. And you're going to feel impulsive
1252 01:46:05 --> 01:46:12 about making decisions to try to do what's unnecessary. If you made $500 a
1253 01:46:12 --> 01:46:20 day? Is that failure? Because I'm gonna tell you, it's not. If you made $100 a
1254 01:46:20 --> 01:46:25 day is that failure? It's not. But in your mind, you think it's not success?
1255 01:46:26 --> 01:46:32 You got to make a lot of money. Now you don't? Who said that? You did. Nobody
1256 01:46:32 --> 01:46:36 came to you and said, unless you make this much money, you aren't successful.
1257 01:46:37 --> 01:46:42 And if anybody ever said that, that's a lie. You don't listen to just disconnect
1258 01:46:42 --> 01:46:42 from them.
1259 01:46:44 --> 01:46:49 Because impractical, unrealistic for you to walk out there, your very first time
1260 01:46:49 --> 01:46:53 at bat, thinking that you're going to start taking down these massive halls,
1261 01:46:53 --> 01:46:58 these big windfall victories, which I have no, I have no respect for those. I
1262 01:46:58 --> 01:47:03 don't give a shit how much money you withdraw when you're first time. Can you
1263 01:47:03 --> 01:47:06 do that the following month, and the following month, in the following month,
1264 01:47:06 --> 01:47:09 in the following month, because chances are it's not going to happen like that.
1265 01:47:09 --> 01:47:15 So like I said to Patrick, in my comment, I said, whenever you talk about
1266 01:47:15 --> 01:47:20 your biggest win, you need to take that out and throw it away. Your biggest
1267 01:47:20 --> 01:47:24 losing trade, take that out also, what are you left with? Because that's your
1268 01:47:24 --> 01:47:28 real stats, that's your real meat on the bone in the middle. That's what matters
1269 01:47:28 --> 01:47:33 most. Your best best best trade is always going to be the one that you over
1270 01:47:33 --> 01:47:37 leveraged, and you were swinging for the fences, and it was a gamble. So you
1271 01:47:37 --> 01:47:41 can't even attribute that as your skill. That's just that was a lottery win. And
1272 01:47:41 --> 01:47:45 the losing maximum last day is the same thing you held for that same
1273 01:47:45 --> 01:47:50 expectation. But when against you, you weren't trading with your model, your
1274 01:47:50 --> 01:47:57 biggest maximum loss. That's not you trading responsibly. So on both both
1275 01:47:57 --> 01:48:02 extremes, you need to take those away. Now learn that from Larry Williams. So
1276 01:48:02 --> 01:48:06 when you're looking at systems and numbers, take your best number out. But
1277 01:48:06 --> 01:48:10 he didn't say to take the worst. Now he always take the best one. Yeah, I say
1278 01:48:10 --> 01:48:16 both. Because that's illustrating a lack of you not following your model. And
1279 01:48:16 --> 01:48:21 what's left is the clearest depiction of you, when you are engaging your model
1280 01:48:22 --> 01:48:27 within the realm of your ability to stick within it. That's the results in
1281 01:48:27 --> 01:48:32 the data you have the show it. If that means that your average profitability,
1282 01:48:33 --> 01:48:40 per trade is less than $1,000, then that's what it is. That's not shameful.
1283 01:48:41 --> 01:48:45 Because if you're consistently doing that, as your equity grows, you let
1284 01:48:45 --> 01:48:50 money management do the heavy lifting, when it's appropriate to add to it. And
1285 01:48:50 --> 01:48:55 like I told Matt trades by Matt, I told Patrick Whelan the same thing. I tell my
1286 01:48:55 --> 01:49:00 students the same thing. You let your equity dictate how and when you add more
1287 01:49:00 --> 01:49:05 contracts. When you've watched me run up accounts in Mt four, and watch me run
1288 01:49:05 --> 01:49:10 them up in trading view and you watch me run them up in the ThinkOrSwim. And you
1289 01:49:10 --> 01:49:19 watch me run them up in amp. Those principles are what I was employing. Not
1290 01:49:19 --> 01:49:24 to those parameters. But I was allowing when I made money that afforded me to
1291 01:49:24 --> 01:49:29 trade with more contracts. When I lost money than I traded with less margin
1292 01:49:30 --> 01:49:34 less contracts until I made 50% of that loss back then I would bump right back
1293 01:49:34 --> 01:49:37 up to whatever the leverage was that I made prior to taking the losing trade.
1294 01:49:38 --> 01:49:46 Now if I'm in a trade intraday and I take a loss it may be less than what I'm
1295 01:49:46 --> 01:49:50 allowing for for the trades in other words list the same risking 25% I'm not
1296 01:49:50 --> 01:49:53 saying that you should trade with three and a half percent risk. But let's say
1297 01:49:53 --> 01:49:59 that's what it was. I get stopped out in the loss equates to 1.7% and 1.9%. Okay,
1298 01:50:00 --> 01:50:03 I'll put the same amount of leverage back on because I didn't take a full
1299 01:50:04 --> 01:50:08 three and a half percent loss. So that's my marker that says, Okay, if it gets
1300 01:50:08 --> 01:50:13 below that, then I have to make a cut in the leverage. So I may take a smaller
1301 01:50:13 --> 01:50:21 loss that is less than what I would take as a full risk for that day. If I hit
1302 01:50:21 --> 01:50:25 that threshold, then if I take another trade, it has to be with less margin.
1303 01:50:26 --> 01:50:29 See someone you don't look like, look at trade like that, you're like, Okay, I
1304 01:50:29 --> 01:50:32 can still afford to trade 15 contracts. So I'm going to take the next trade with
1305 01:50:32 --> 01:50:37 15 contracts, you're assuring that you're gonna fail. You're guaranteeing
1306 01:50:37 --> 01:50:40 it, you're ushering it along, you're inviting it, you're laying it out there
1307 01:50:40 --> 01:50:50 with a red carpet below my account now. You're not trading with enough movement
1308 01:50:50 --> 01:50:57 afforded to you by trading with that large leverage. So if you just traded
1309 01:50:57 --> 01:51:06 with one contract, okay, one, just one contract. I made 100% plus percent in
1310 01:51:06 --> 01:51:13 five weeks trading with Thinkorswim, doing one contract trading on NASDAQ. Go
1311 01:51:13 --> 01:51:19 look at it its own air real money. And I set that up as a realistic expectation
1312 01:51:19 --> 01:51:23 for you. I think that that's realistic for a new student first year, I think
1313 01:51:23 --> 01:51:29 that's realistic. Not make 100% in one month, but for the sake of if you were
1314 01:51:29 --> 01:51:34 pick and choose and one trade per week, you take those examples in mind. You can
1315 01:51:34 --> 01:51:39 make 100% in a year. And some of you're like, well, that's not enough. Where are
1316 01:51:39 --> 01:51:43 you going to be in 10 years from now? Will you have a million dollars working
1317 01:51:43 --> 01:51:50 your job, you won't. But if you start with $1,000, and after taxes, you net
1318 01:51:50 --> 01:51:56 100% return, you got over a million dollars in 10 years. And that's a very,
1319 01:51:56 --> 01:52:02 very slow paced, snail's crawl approach to fortifying 10 years, you have a
1320 01:52:02 --> 01:52:06 million dollars. Now a million dollars isn't shit anymore today. But that's
1321 01:52:06 --> 01:52:09 just an example that I started with. When I was on baby pips, I'm saying,
1322 01:52:09 --> 01:52:14 Look, you guys look at money differently than I do. I look at how I can take a
1323 01:52:14 --> 01:52:21 little bit and make a lot over time. Over time. So when you sit down and you
1324 01:52:21 --> 01:52:24 say to yourself, I'm going to learn how to trade, I'm going to be successful at
1325 01:52:24 --> 01:52:30 this, okay? You all have a timeline that you're going to be profitable by that's
1326 01:52:30 --> 01:52:36 a mistake. That's a mistake. You're trying, you're trying to time your
1327 01:52:36 --> 01:52:39 success, you're trying to time it like it's the graduation when you go to
1328 01:52:39 --> 01:52:43 college. Well, if I go through the curriculum, and I show up every year, I
1329 01:52:43 --> 01:52:49 do all your semesters, spring, summer, fall winter, then I would have all my
1330 01:52:49 --> 01:52:53 credits by this time, and then I'll graduate this year. That's not how
1331 01:52:53 --> 01:52:57 trading works. I know that's what you want it to be like, but it's not
1332 01:52:59 --> 01:53:06 something you go in and you subscribe to the idea, it might take you a year and a
1333 01:53:06 --> 01:53:10 half to get there. And you get into content like I have and listen to the
1334 01:53:10 --> 01:53:14 good logic like this discussion today. Where it helps you calibrate your
1335 01:53:14 --> 01:53:18 mindset and filter all the bullshit. Acknowledge the things that you're
1336 01:53:18 --> 01:53:21 feeling is real, it's you're not the exception. But there's a way of going
1337 01:53:21 --> 01:53:27 through it properly. And staying on course, don't let short term adversities
1338 01:53:27 --> 01:53:31 deviate your course of action. And then you make the learning curve longer than
1339 01:53:31 --> 01:53:36 it needs to be. Because that's what really happens. I made it longer for
1340 01:53:36 --> 01:53:40 myself, because I was trying to tinker with something that was working. And I
1341 01:53:40 --> 01:53:45 kept trying to make it better when it was already the best that can be. I
1342 01:53:45 --> 01:53:48 mean, look at my entries, the strategies I use for entry and trade. Like I'm
1343 01:53:48 --> 01:53:54 literally buying lows. I'm buying the middle of fair value gaps at the low
1344 01:53:54 --> 01:53:59 points. How can anybody argue against there was a comment that was left by a
1345 01:53:59 --> 01:54:05 guy. He said, Come on, man, let's make it believable, like your everyday being
1346 01:54:05 --> 01:54:10 perfect with this. Thank you. Thank you for the compliment. I mean, apparently
1347 01:54:10 --> 01:54:13 didn't notice me getting stopped out a few times. But I take that as a
1348 01:54:13 --> 01:54:17 compliment. But that's not what he meant that when your results are so good,
1349 01:54:17 --> 01:54:21 other people can't acknowledge it, or believe that they're there. They're even
1350 01:54:21 --> 01:54:26 real. That's the highest form of compliment. I don't look at that and
1351 01:54:26 --> 01:54:30 think oh, he thinks I'm a fraud. He might think that I see him seeing my
1352 01:54:30 --> 01:54:36 results in my executions that are absolutely real. Saying it's too good to
1353 01:54:36 --> 01:54:43 be true. That is the greatest compliment anybody could give to a trader. If your
1354 01:54:43 --> 01:54:47 results look too good to be true, then yet you keep proving it. That's
1355 01:54:47 --> 01:54:52 delicious. But it wasn't like that when I first started it was a fucking train
1356 01:54:52 --> 01:54:56 wreck in the train just kept backing up and rolling back ever taught me back in
1357 01:54:56 --> 01:55:00 Rome, Becker taught me and I felt like it was never going to end And I didn't
1358 01:55:00 --> 01:55:04 have what I'm trying to provide for you as a source of encouragement. Keep
1359 01:55:04 --> 01:55:07 sticking to it. Okay, just keep sticking to it, you don't need to come back to my
1360 01:55:07 --> 01:55:12 YouTube channel, you don't need to contribute to the ad revenue fund, okay?
1361 01:55:12 --> 01:55:15 You don't need to do that. You already have the videos download, you know, you
1362 01:55:15 --> 01:55:22 do the study him, stick to it, don't fall away. And think that it's not for
1363 01:55:22 --> 01:55:26 you, because is for you. But you're just trying to do things that are not
1364 01:55:27 --> 01:55:31 conducive for you to get the results. Because you cannot time your schedule,
1365 01:55:31 --> 01:55:36 you can't schedule on time your success is going to arrive right on time. It's
1366 01:55:36 --> 01:55:39 going to make perfect sense why it arrived? When it does. And you're gonna
1367 01:55:39 --> 01:55:43 see how you, not me, not anyone else, not other things. And other factors
1368 01:55:43 --> 01:55:49 hindered you, you did. And it'll make perfect sense, what you did that
1369 01:55:49 --> 01:55:54 prolonged everything. Every single one of my profitable students have the same
1370 01:55:54 --> 01:56:00 epiphany that happens, they made it harder themselves. Usually, it's the
1371 01:56:00 --> 01:56:05 conversations like this, that triggers them, and says, You know what, I am
1372 01:56:05 --> 01:56:09 doing those types of things. Let me try not doing those things, and just listen.
1373 01:56:10 --> 01:56:15 And all of a sudden, the curtain parts, and they see the show for what it really
1374 01:56:15 --> 01:56:20 is, they can see where the markets gonna go. And they can see their model is in
1375 01:56:20 --> 01:56:24 fact there all the time. And then they get to build the confidence going in and
1376 01:56:24 --> 01:56:28 engaging with it. And when they get the result of being in it and getting out
1377 01:56:28 --> 01:56:32 what a profitable move. They don't go back in because they didn't feel good
1378 01:56:32 --> 01:56:36 enough that that wasn't a good enough move. I didn't make enough money I could
1379 01:56:36 --> 01:56:37 have made more. So what
1380 01:56:38 --> 01:56:41 you could have made even more money, if you would have bought and sold every
1381 01:56:41 --> 01:56:45 high and low on an hourly chart from Sunday's opening to Friday's close. How
1382 01:56:45 --> 01:56:49 much money did you leave on the table, folks, you're always leaving money on
1383 01:56:49 --> 01:56:56 the table. It's not realistic to think that way. But yet, it's been posted as
1384 01:56:56 --> 01:57:00 an argument in the comment sections of my videos, other people from people that
1385 01:57:00 --> 01:57:03 are working at fucking Jiffy Lube on Monday, they're probably working right
1386 01:57:03 --> 01:57:06 now listen into this hate in my guts, because I've mentioned the fact that
1387 01:57:06 --> 01:57:10 they're doing grease, monkey jobs, and ain't trading, they can't trade. But
1388 01:57:10 --> 01:57:14 they're very opinionated, and other people's stuff. You're a clown, you're a
1389 01:57:14 --> 01:57:20 source of humor for people that know how to do it. But for some of you that are
1390 01:57:20 --> 01:57:31 very, very impressionable, you let the impressions of other people make a huge
1391 01:57:31 --> 01:57:35 alteration to the course of action that you're trying to start with, in this
1392 01:57:35 --> 01:57:42 industry, when 90% of this war in trading is in your head. It's a
1393 01:57:42 --> 01:57:47 psychological battle. You're battling with yourself. And then once you get in
1394 01:57:47 --> 01:57:52 the marketplace, then you're your armwrestling market. And that's hard.
1395 01:57:53 --> 01:57:56 It's real hard. If you don't know what you're doing. And you're brand new, you
1396 01:57:56 --> 01:57:59 have no experience, you've never been here before. Every little tiny
1397 01:57:59 --> 01:58:03 fluctuation one tick against your entry feels like the beginning of a run on
1398 01:58:03 --> 01:58:07 your stock. And that's not what it's like, when you're thinking like I'm
1399 01:58:07 --> 01:58:14 teaching it. I trust my model. If it goes to my stock, I placed my stop
1400 01:58:14 --> 01:58:18 incorrectly. And I'm okay with that. I know that likelihood of my next trade is
1401 01:58:18 --> 01:58:24 going to be just as well as the one I just entered. It's not diminishing, the
1402 01:58:24 --> 01:58:31 efficacy of my models are not diminishing their constant. Your
1403 01:58:31 --> 01:58:35 appreciation for those models and approaches are on the upslope. You're at
1404 01:58:35 --> 01:58:40 the beginning of your journey, and I envy all of you. I envy all of you, I
1405 01:58:40 --> 01:58:45 miss those moments of astonishment where I would see something and I'm like,
1406 01:58:45 --> 01:58:49 Okay, this is what should do. And let's see what happens and it delivers
1407 01:58:49 --> 01:58:53 perfectly to the tick. And you're looking around the room like, am I
1408 01:58:53 --> 01:58:59 supposed to know this? Like you're expecting the black suits to show up in
1409 01:58:59 --> 01:59:02 front of your house. Helicopters landing in your backyard, like you're coming
1410 01:59:02 --> 01:59:09 with us, you know. Those moments of astonishment are amazing, those
1411 01:59:09 --> 01:59:14 epiphanies, those those moments where the veil is lifted, and you see the
1412 01:59:14 --> 01:59:21 market as it really is in binary form. Neo finally understands who he is and
1413 01:59:21 --> 01:59:25 where he's at. He doesn't see the people in front of him throwing punches. It's
1414 01:59:25 --> 01:59:30 just zeros and ones. And all he has to do is this is what his response is going
1415 01:59:30 --> 01:59:33 to be and he knows what they're going to do before they do it. That's a macro.
1416 01:59:36 --> 01:59:41 That's a macro manual intervention. When you see the black cat glitchyness it's
1417 01:59:41 --> 01:59:46 deja vu. Okay, there's so many similarities, analogies that can be made
1418 01:59:46 --> 01:59:51 with that movie because we do live in a simulation. Everything that's around us
1419 01:59:51 --> 01:59:56 is pre pre programmed and in scripted, and I could go a long direction of
1420 01:59:56 --> 01:59:59 course with this and probably get myself in trouble on YouTube but we're going to
1421 02:00:00 --> 02:00:09 leave that for another day in another medium. But the idea is, in closing, you
1422 02:00:09 --> 02:00:15 need to guard your mind, you need to do the very least in the beginning, because
1423 02:00:15 --> 02:00:21 if you can't get experience or growth or progress measured in any capacity with
1424 02:00:21 --> 02:00:27 the least amount of exposure to risk, it matters not how much more risky you can
1425 02:00:27 --> 02:00:33 accumulate. What's differences is, if you have 15 contracts on or if you have
1426 02:00:33 --> 02:00:37 one micro lot on, if you're wrong about what you're trying to do in the
1427 02:00:37 --> 02:00:43 marketplace, the market is going to show you do you need the maximum pain, the
1428 02:00:43 --> 02:00:49 mass, the maximum expense, the maximum discomfort for you to appreciate that
1429 02:00:49 --> 02:00:54 you're not following the model correctly. Because some of you, you're
1430 02:00:54 --> 02:00:57 full of shit, when you say I got to learn how to trade with real money.
1431 02:00:58 --> 02:01:01 That's the only way I can learn how to trade know what you're doing is, you're
1432 02:01:01 --> 02:01:05 saying that I'm a fucking idiot, please beat me over the head with the stupid
1433 02:01:05 --> 02:01:10 stick. Because I don't know enough to know that I can do this without any harm
1434 02:01:10 --> 02:01:13 to myself without any financial risk. Without any kind of hardships, that's
1435 02:01:13 --> 02:01:17 going to cause me to second guess my inability, because of the fear of being
1436 02:01:17 --> 02:01:22 wrong associated with money. That's the reality books aren't going to teach you
1437 02:01:22 --> 02:01:29 that way. Mentors aren't going to teach you that way. It's sugar free, as it
1438 02:01:29 --> 02:01:36 should be. You want it to taste sweet, like honey. And sugar is a disease
1439 02:01:36 --> 02:01:40 caused her, the more you can cut sugar out of your diet, the best you're gonna
1440 02:01:40 --> 02:01:44 have in terms of health. The same way with trading, you want meat and
1441 02:01:44 --> 02:01:50 potatoes, baby meat and fucking potatoes. That's it. Because whatever
1442 02:01:50 --> 02:01:56 you can do with the least, if you have a measurable outcome, that is more times
1443 02:01:56 --> 02:02:01 than not delivered to you, based on a model that you're working with. When you
1444 02:02:01 --> 02:02:04 do that same procedure over and over again, just like a cookie cutter, you
1445 02:02:04 --> 02:02:08 take it and you precedent, the dough. Are you expecting a star shaped cookie
1446 02:02:08 --> 02:02:15 dough cutter to give you a shape of a circle? Or a square? No, it's designed
1447 02:02:15 --> 02:02:19 to do one thing. You press it into the dough, you lift it up there you have a
1448 02:02:19 --> 02:02:23 piece of dough that's cut out in the form of a star. Wonderful. Are you
1449 02:02:23 --> 02:02:28 trying to do something else outside of that? No, your job is to find another
1450 02:02:28 --> 02:02:32 place where you can find the dough, which is a trade setup. And you're gonna
1451 02:02:32 --> 02:02:37 press your cookie cutter, which is your mold, or your model rather, pressing
1452 02:02:37 --> 02:02:41 into that dough and pull it out. And you take home that star shaped or whatever
1453 02:02:41 --> 02:02:44 the shape of that cookie cutter is whatever your model is, if it's the
1454 02:02:44 --> 02:02:49 optimal trade entry, if it's the silver bullet, if it's you anything else.
1455 02:02:52 --> 02:02:57 That's all you're there to do. And Domaining does anything more than that
1456 02:02:58 --> 02:03:03 is foolishness. The results that you get from the least amount of leverage from
1457 02:03:03 --> 02:03:09 that is irrelevant in the beginning, because you have to get to the point
1458 02:03:09 --> 02:03:12 where you can replicate that over and over and over again more times than not
1459 02:03:12 --> 02:03:17 over the course of a month over the course of a week. And taking that sample
1460 02:03:17 --> 02:03:22 set and saying, Okay, I have done this for a week. And this is the main
1461 02:03:22 --> 02:03:26 transactions I've taken. This is how many that were profitable. This is how
1462 02:03:26 --> 02:03:30 many times that were not profitable. This is how much I was able to yield as
1463 02:03:30 --> 02:03:37 a net return. Over time, it'll become easier to do it. That's the goal. And
1464 02:03:37 --> 02:03:43 you want it to be boring, you know, you know, on Wednesday morning, of next
1465 02:03:43 --> 02:03:48 week, you're gonna go out there and you're gonna find 10 handles in s&p, you
1466 02:03:48 --> 02:03:52 know, you're gonna find 30 handles in the NASDAQ. I know that I absolutely
1467 02:03:52 --> 02:03:55 fucking know, I'm going to do that. I know, I'm gonna be able to do that I can
1468 02:03:55 --> 02:04:00 do that. I know, tonight when I lay my head down, that my thought is not gonna
1469 02:04:00 --> 02:04:04 be swirling around. Am I gonna be able to trade next week? Am I gonna be able
1470 02:04:04 --> 02:04:09 to pull anything off? Am I gonna be able to find a setup? It's a given. It's
1471 02:04:09 --> 02:04:14 absolutely given. I'm not worried about that. That is confidence that you can
1472 02:04:14 --> 02:04:21 not appreciate until you have it. And most traders don't have it. Even if they
1473 02:04:21 --> 02:04:26 are profitable. There. They still say that the markets random. It is random.
1474 02:04:26 --> 02:04:29 If you're believing the bullshit, you're trying to trade off of all these things
1475 02:04:29 --> 02:04:34 that you're subscribing to us. irreligion Elliott, wave Wycoff it's
1476 02:04:34 --> 02:04:40 this it's jumping the creek. It's this, this wave count. Man, if I had a trade
1477 02:04:40 --> 02:04:46 like that, I would not be able to sleep at night. But too many variables, too
1478 02:04:46 --> 02:04:50 many variables where I'm trading on constants. I know where the liquidity
1479 02:04:50 --> 02:04:54 is. I know where the inefficiencies are. I know what the economic downturn is
1480 02:04:54 --> 02:04:59 going to produce a injection of volatility at a specific date and time
1481 02:05:02 --> 02:05:07 I'm not I'm not clueless. I'm not confused. I know exactly when I'm going
1482 02:05:07 --> 02:05:11 to step my SN there and tap dance all over this shit. And moonwalk my ass out
1483 02:05:11 --> 02:05:16 the door with a bounty. I'm going to do that anytime I fucking want. And when
1484 02:05:16 --> 02:05:21 you learn how to do it, you'll do the same thing. It's confidence that you
1485 02:05:21 --> 02:05:29 cannot appreciate until you have it in the hands of weaker men. And ladies, you
1486 02:05:29 --> 02:05:33 will be a prick like I was on America Line when I finally got it. I was an
1487 02:05:33 --> 02:05:37 asshole. You think I'm an asshole. Now? No, I was bragging. I was really
1488 02:05:37 --> 02:05:42 bragging all the time. I'm just spitting facts right now. And I'm bringing
1489 02:05:42 --> 02:05:47 receipts every single day. But you don't want to accept it. Because you can't do
1490 02:05:47 --> 02:05:49 it yet. And you think it shouldn't happen to you because you watch a few
1491 02:05:49 --> 02:05:55 videos, or you scribble some bullshit on an on a notepad or a napkin at work. And
1492 02:05:55 --> 02:05:58 you think that you've been journaling? That's not That's not a real attempt at
1493 02:05:58 --> 02:06:02 doing it. You're half assing it if you're half assing it, don't be
1494 02:06:02 --> 02:06:06 surprised when you get half assed results. When you make it your business,
1495 02:06:07 --> 02:06:11 that this is your career, you're learning how to operate in run a
1496 02:06:11 --> 02:06:18 business. What is it you incorporated, you incorporated? Because trading opens
1497 02:06:18 --> 02:06:23 up so many more opportunities than just getting funded, getting paid out getting
1498 02:06:23 --> 02:06:27 in an account with real money in it and then taking withdrawals from it. If
1499 02:06:27 --> 02:06:35 that's all you see in trading, wow, what a myopic view, you have so many ways to
1500 02:06:35 --> 02:06:37 turn this into a enterprise.
1501 02:06:39 --> 02:06:47 Like I can look at, look at the level I am right now. Okay? No advertising, all
1502 02:06:47 --> 02:06:53 word of mouth. And I'm not even selling anything anymore. Any one of you right
1503 02:06:53 --> 02:06:58 now would love to be where I'm at. And you would be pushing it, maximizing it
1504 02:06:58 --> 02:07:02 squeezing every drop out of them the level of potential it's only right now.
1505 02:07:05 --> 02:07:14 Imagine if you had that with real skill. All I'm trying to do is inspire you to
1506 02:07:14 --> 02:07:22 do that. Just do that and apply it to everything you do in life. You'll never
1507 02:07:22 --> 02:07:27 run out of money, you'll never feel any kind of anxiety, you'll never have
1508 02:07:27 --> 02:07:32 second doubts about what you're going to be able to accomplish. You won't see any
1509 02:07:32 --> 02:07:37 ceiling at all, no ceiling. Anytime I want to walk out in any given time and
1510 02:07:37 --> 02:07:40 start making millions of dollars, I can do it. And I don't need to be trading
1511 02:07:40 --> 02:07:44 the market to do it there. I can make millions in the trading market. I can
1512 02:07:44 --> 02:07:48 make money and millions of dollars marketing myself as an educator, I can
1513 02:07:48 --> 02:07:52 go out and write books. I can go out and make courses, I can do signal services.
1514 02:07:52 --> 02:07:57 I can go around do teaching circuits. I can be hired on by companies that are
1515 02:07:57 --> 02:08:06 asking me every fucking week, please train our analysts know who's in a seat
1516 02:08:06 --> 02:08:11 of control. Here I am. When you're comfortable with what you have, you
1517 02:08:11 --> 02:08:16 don't need any more. That's a feeling none of you can understand. I don't ever
1518 02:08:16 --> 02:08:19 need to trade I don't ever need to make any more money, doing anything. I'm
1519 02:08:19 --> 02:08:27 completely comfortable. My family is set. That's what you want to be able to
1520 02:08:27 --> 02:08:32 do for your family. You want to be able to lock it down, set it up where it's
1521 02:08:32 --> 02:08:39 residual wealth, legacy wealth, but I hold my children to a higher degree of
1522 02:08:39 --> 02:08:44 responsibility. While they can easily just have money thrown in their hands,
1523 02:08:44 --> 02:08:47 and I've done this and they've recklessly spent it, they've done stupid
1524 02:08:47 --> 02:08:51 shit with it, put it in fucking cryptocurrency and whatnot, and lost it
1525 02:08:51 --> 02:08:56 with TDs brokers their wallet. Something didn't happen. They can't get their
1526 02:08:56 --> 02:09:03 money. Some other crypto went to zero, zilch, zero. Hey, you should happens.
1527 02:09:05 --> 02:09:09 But I make them work. I want them to know what it feels like. Because if I
1528 02:09:09 --> 02:09:13 just give them money, and they've never tasted what it's like for everyone else
1529 02:09:13 --> 02:09:21 to like it was for me. I had to work and part time jobs on top of it. When I was
1530 02:09:21 --> 02:09:25 replenishing the money on blue in those accounts, I had to work a secondary job
1531 02:09:25 --> 02:09:29 to get it. It took a lot to be to get that money back in there just to do it
1532 02:09:29 --> 02:09:34 again. But I didn't lose hope. I was cussing and ranting and raving the whole
1533 02:09:34 --> 02:09:39 time I had to do it. Wanting to quit the extra job. I was working. But I knew
1534 02:09:39 --> 02:09:44 unless I did this, nothing's going to change. Nothing is going to change
1535 02:09:44 --> 02:09:49 unless you put your feet to the ground and say I'm digging my heels in. I know
1536 02:09:49 --> 02:09:53 it's going to be hard. I know I'm gonna have pushback. I know it's going to be
1537 02:09:53 --> 02:09:56 requiring me to put time into it when all my friends are out there running
1538 02:09:56 --> 02:10:00 around and clubbing and doing this and chasing tail and doing this and doing
1539 02:10:00 --> 02:10:03 that and drinking, having fun on the weekends knows I'm going to be in these
1540 02:10:03 --> 02:10:07 charts studying, I'm going to be living my life differently. But they're still
1541 02:10:07 --> 02:10:12 gonna be out there trying to chase tail broke his fuck driving a beater fucking
1542 02:10:12 --> 02:10:17 car ain't doing shit in their life. And you'll be able to pull down annual
1543 02:10:17 --> 02:10:23 fucking salaries on a week. You can't even imagine where you're going to be,
1544 02:10:24 --> 02:10:29 you can't even imagine. Whatever you think whatever you think is your level
1545 02:10:29 --> 02:10:36 of success. It's not big enough. It's not big enough, you have no idea. When
1546 02:10:36 --> 02:10:40 you strip all these limitations that you put on yourself, you shackle yourself
1547 02:10:40 --> 02:10:45 with your own mindset, you do it. This is all I can see myself doing right now.
1548 02:10:47 --> 02:10:50 When you start making $100,000 a year, you start thinking stuff Oh, shit, that
1549 02:10:50 --> 02:10:53 wasn't all that hard. I thought it was really hard. Well, now I'm going to aim
1550 02:10:53 --> 02:10:57 for 500,000 hours. And the attempts that you do to do that you get there in less
1551 02:10:57 --> 02:11:02 than half time. These are thinking Well, shit, they say the first million dollars
1552 02:11:02 --> 02:11:05 is the hardest one I'm about they're putting in a couple of months, and then
1553 02:11:05 --> 02:11:08 you're there, then you look back and say, a million dollars isn't all that
1554 02:11:08 --> 02:11:11 much money. And yeah, it took some effort, but it didn't take as much as I
1555 02:11:11 --> 02:11:17 thought it was going to take. And you start making 5 million 10 million 15
1556 02:11:17 --> 02:11:21 million 50 million, and I'm talking to numbers now you can fucking comprehend.
1557 02:11:21 --> 02:11:26 But it is what it is, folks. It's just math, it's just math, you're compounding
1558 02:11:26 --> 02:11:31 the efforts of what you're able to do on the smallest form. In that little cookie
1559 02:11:31 --> 02:11:36 cutter mold that I'm going to find five handles and SAP to begin with. And I'm
1560 02:11:36 --> 02:11:41 gonna let it grow to I can start doing eat and intend or start with 20 in
1561 02:11:41 --> 02:11:45 NASDAQ and work towards 30 and 40 to 50, you only got to do them a few times a
1562 02:11:45 --> 02:11:50 week, folks. And as your equity increases, you can afford to do more
1563 02:11:50 --> 02:11:55 contracts, that compounds and you keep adding it more and more and more. But
1564 02:11:55 --> 02:11:59 the level of risk is always the same. Whatever you associate in terms of your
1565 02:11:59 --> 02:12:03 risk, I'm not going to risk more than 1%. But I can't get rich trading with 1%
1566 02:12:03 --> 02:12:09 Bullshit, you can get rich trade with one quarter of 1% You have to submit the
1567 02:12:09 --> 02:12:14 time. None of you want to do that part. But that's the part you have to submit
1568 02:12:14 --> 02:12:19 to. That's the first thing I submitted to when I first started trading. I had a
1569 02:12:19 --> 02:12:25 20 year plan. Imagine me reading a book, how to be successful and retire 20 years
1570 02:12:25 --> 02:12:30 as a trader, nobody's buying that book. Now in the 80s and 90s. That would have
1571 02:12:30 --> 02:12:34 been a great title because everything was around what? For younger folks, you
1572 02:12:34 --> 02:12:38 ain't gonna know this. But it was all mutual fund. It was when mutual funds
1573 02:12:38 --> 02:12:42 and infidel infidelity, fidelity. Everybody was trying to get people to
1574 02:12:42 --> 02:12:46 invest in these mutual funds. And they were projecting this is what you should
1575 02:12:46 --> 02:12:51 do. Average is 12% Return on stocks over the course of the years, you put this
1576 02:12:51 --> 02:12:54 much money in your money can compound you'll have a million dollars by the
1577 02:12:54 --> 02:12:59 time you're whatever. So I was like, Well, shit. If I can make 12% in a
1578 02:12:59 --> 02:13:07 mutual fund a year? What happens if I start making 12% a month? And then what
1579 02:13:07 --> 02:13:13 happens when I start making 12% every two weeks. And then what happens if I
1580 02:13:13 --> 02:13:18 make 12% a week? And what happens if I can compound my efforts and find trades
1581 02:13:18 --> 02:13:25 that yield 12% in the same day, suddenly, all these big numbers that
1582 02:13:25 --> 02:13:30 were fearful for me, as even contemplating as realistic ever to reach
1583 02:13:30 --> 02:13:37 for they became reachable. Because I'm not increasing the level of effort. In
1584 02:13:37 --> 02:13:43 my trades, all I need is the setup. And as the equity increases in the baseline,
1585 02:13:44 --> 02:13:47 it was whatever it is at the time, it's 100,000 or 50,000 100,000 million dollar
1586 02:13:47 --> 02:13:53 account, whatever that is, the risk percentage is never increasing. So
1587 02:13:53 --> 02:13:56 whatever you've adopted as your model is, this is what I'm going to risk. It's
1588 02:13:56 --> 02:14:00 going to be 1% or less. It's going to be a half percent, it's gonna be one
1589 02:14:00 --> 02:14:05 quarter percent. You're trying to tell me you're not satisfied. Risking one
1590 02:14:05 --> 02:14:08 quarter of 1% of a million dollars if you have that in your trading, okay?
1591 02:14:08 --> 02:14:15 It's real money, not fungible shit, it's real money. And you're able to take down
1592 02:14:16 --> 02:14:24 a setup that yields five to eight to 10 times what you're risking. Really, you
1593 02:14:24 --> 02:14:33 don't you don't think that that's a good living 50 Fucking grand a week. You
1594 02:14:33 --> 02:14:38 can't get rich. Your fucking grade that's rich. You don't know what the
1595 02:14:38 --> 02:14:43 fuck you're talking about. You fail math. But you have to give yourself
1596 02:14:43 --> 02:14:52 time. You got to let it build up. And as you grow, and you put more things in
1597 02:14:52 --> 02:14:56 operation where you're running a business, and you start milking social
1598 02:14:56 --> 02:15:00 media, and then if you put your presence online where you can amortize that as
1599 02:15:00 --> 02:15:05 well. Then you get back the best tax treatment there is. You can drive all
1600 02:15:05 --> 02:15:10 these big fancy cars and lease them and laugh at people and say, oh your lease
1601 02:15:10 --> 02:15:13 Yeah, I'm getting paid to drive it fucker. Enjoy ride around your beater as
1602 02:15:13 --> 02:15:17 fuckin pickup truck that's 15 years old does the shit with McDonald's french
1603 02:15:17 --> 02:15:20 fries at that bucket decomposed yet, sitting back here talking about some
1604 02:15:20 --> 02:15:24 hola you know you go around and leased car bitch get out of here and my car is
1605 02:15:24 --> 02:15:28 cost more than your fucking house. Get the fuck out of here what your bullshit.
1606 02:15:28 --> 02:15:32 These people will try to tear you down all the time. And the more success you
1607 02:15:32 --> 02:15:35 have, the more success that you share. They're more of I'm going to come at
1608 02:15:35 --> 02:15:38 you. Are you gonna live your life worrying about what they're gonna say
1609 02:15:38 --> 02:15:42 about you fuck these people. They are losers the fact that they're spending
1610 02:15:42 --> 02:15:45 their time talking about you. They're fucking showing you they're losers.
1611 02:15:45 --> 02:15:50 Nobody that has success spends any time talking about somebody else? Nobody
1612 02:15:50 --> 02:15:55 does. Nobody has time talking about that shit. You keep your business minded by
1613 02:15:55 --> 02:16:00 you, you mind your own business, nobody else is going to mind it. You do it. And
1614 02:16:00 --> 02:16:04 you stay at everybody else's business. You keep your head in the charts. You
1615 02:16:04 --> 02:16:10 keep building, understanding yourself, where you make mistakes. Where do you
1616 02:16:10 --> 02:16:16 fear? What do you get anxious about? What do you get too? overzealous about
1617 02:16:16 --> 02:16:23 prematurely or overconfident? Because there's a real thing like that. Identify
1618 02:16:23 --> 02:16:28 those things. They're going to help you prune that tree that money treat it,
1619 02:16:28 --> 02:16:35 you're growing into a money tree. I'm a money making Dynamo. I can walk out
1620 02:16:35 --> 02:16:38 these fucking doors, I can lose everything.
1621 02:16:39 --> 02:16:46 I can literally lose every fucking thing. And I could start with zero money
1622 02:16:46 --> 02:16:53 in my fucking pocket. And in 12 months be a multimillionaire again. Do you feel
1623 02:16:53 --> 02:16:57 that confident about yourself? Because everything I talked about in this
1624 02:16:57 --> 02:17:05 presentation today, it all leans on having one skill set. I can be great, I
1625 02:17:05 --> 02:17:12 can be broke as fuck. I can sit down with people say look. Let's come
1626 02:17:12 --> 02:17:17 together. I'm going to prove to you that I can do this. Okay. I'm going to prove
1627 02:17:17 --> 02:17:25 to you that this can be made with real money. I don't have the money to give to
1628 02:17:25 --> 02:17:29 you right now to contribute but I have the skill set. Okay, I'm gonna pull back
1629 02:17:29 --> 02:17:33 the veil and tell you what I was doing my younger years. When I got a married
1630 02:17:33 --> 02:17:39 woman pregnant. I had to do this very thing. I had to be under the radar. I
1631 02:17:39 --> 02:17:46 had friends that knew friends or family that had money. That's how it worked. So
1632 02:17:46 --> 02:17:49 because I couldn't sit down and put money in a brokerage firm because this
1633 02:17:49 --> 02:17:56 one was trying to get in my back pocket all the time. So I worked menial jobs. I
1634 02:17:56 --> 02:18:00 did those things that keep a gold digger from my bucket my back pocket. I did
1635 02:18:00 --> 02:18:06 that. I promised her when we went to court I said you won't see a fucking
1636 02:18:06 --> 02:18:09 Penny and I had joint custody. So for the people saying it was a deadbeat that
1637 02:18:09 --> 02:18:16 I had him every day of the week except for one night Thursday. When you
1638 02:18:16 --> 02:18:20 broadcast you have lots of money, you invite that kind of shit. And so many
1639 02:18:20 --> 02:18:24 young men literally are asking for the biggest fucking shock of your life
1640 02:18:32 --> 02:18:37 my cousin owns a business he does real well. He wants to talk to you. Okay.
1641 02:18:39 --> 02:18:45 Show me what it's going to do on this. Alright, this this, this this this damn
1642 02:18:45 --> 02:18:49 door to get in tomorrow. Alright, it's gonna do this, this this this this this?
1643 02:18:49 --> 02:18:56 How could I'm how much Monica made their 20 grand what you were, what's the
1644 02:18:56 --> 02:19:04 split? I'll get 15% and help anytime I need it. And that's what I was doing.
1645 02:19:05 --> 02:19:12 It's exactly what the fuck I was doing. And I had everything I ever wanted. I
1646 02:19:12 --> 02:19:18 had money all the time. I had so many friends and resources and more people
1647 02:19:18 --> 02:19:23 constantly coming up. And I was scratching their back. They were
1648 02:19:23 --> 02:19:30 scratching mine. They were giving me gifts. Okay. So when people talk shit
1649 02:19:30 --> 02:19:34 about you and tear you down and think that you're winning, and you laugh at
1650 02:19:34 --> 02:19:38 them, because you beat every fucking obstacle that was placed in front of
1651 02:19:38 --> 02:19:46 you. Who's really laughing loudest? There's always going to be someone in
1652 02:19:46 --> 02:19:50 your family, your friends that's going to deny and say you can't do this.
1653 02:19:50 --> 02:19:54 They're going to tell you Don't be don't waste your time doing it. Don't try
1654 02:19:54 --> 02:19:57 don't even bother trying. You're going to fail. You're gonna fail. You're gonna
1655 02:19:57 --> 02:20:05 fail. That's the enemy talk. That is something that's trying to steal your
1656 02:20:05 --> 02:20:09 future legacy that's literally being laid in front of you. If it's your first
1657 02:20:09 --> 02:20:13 time you ever listened to me, it's being laid in front of you right now. And I
1658 02:20:13 --> 02:20:16 guarantee you, if you make the mistake of talking about to somebody else,
1659 02:20:17 --> 02:20:20 friend or family, we're gonna give you 15 Fucking reasons why you shouldn't do
1660 02:20:20 --> 02:20:29 it. And ain't them telling you that it's the enemy. steal, kill, destroy. That's
1661 02:20:29 --> 02:20:39 what they do. And if you believe them, that's unfortunate. Because you can do
1662 02:20:39 --> 02:20:45 this, you absolutely can do it. There's so many people now that's came forward
1663 02:20:45 --> 02:20:51 and says, This is what I use. And this is what's working for me. And you
1664 02:20:51 --> 02:20:53 believe what you want to believe. But I'm making money. And here's the proof.
1665 02:20:53 --> 02:20:58 Here's the evidence of it. I promised you two years ago, I was going to bring
1666 02:20:58 --> 02:21:03 the receipts. And here they are becoming people out there saying, you know, this
1667 02:21:03 --> 02:21:08 is it, I found my way. I don't fear losing my job. I don't fear another
1668 02:21:08 --> 02:21:15 pandemic. I don't fear inflation. I don't give a shit what gas cost? I could
1669 02:21:15 --> 02:21:18 care less what gasoline cost. I have eight cylinder engines, I'm not going to
1670 02:21:18 --> 02:21:23 size them. I will pay their small tax, I don't give a fuck. None of that bothers
1671 02:21:23 --> 02:21:31 me a bit. But none of that's a deterrent to how I'm going to spend my money. That
1672 02:21:31 --> 02:21:36 is a living experience that I want all of you to have. I want you to all look
1673 02:21:36 --> 02:21:41 at things and say, You know what? I don't fear what things cost? I don't
1674 02:21:41 --> 02:21:48 fear inflation, because you'll always outpace it. When you're a student that
1675 02:21:48 --> 02:21:53 goes to college, and you have a college education, inflation is still a factor
1676 02:21:53 --> 02:22:01 to you. Well, you, you understand, house prices are too high. I knew I paid over
1677 02:22:01 --> 02:22:05 $2 million for this house, I paid too much money. Every house is inflated
1678 02:22:05 --> 02:22:10 right now. You're not going to have a house because it's too expensive. You
1679 02:22:10 --> 02:22:14 got to have a place to live, right? I don't give a shit. Because I knew all
1680 02:22:14 --> 02:22:20 the things I'm doing elsewhere, are offsetting whatever I spent on this. I
1681 02:22:20 --> 02:22:25 got a free RV. Basically for $300,000. It takes me about six years or so and
1682 02:22:25 --> 02:22:30 it'd be depreciated. That's all being taken away from my taxable income. All
1683 02:22:30 --> 02:22:36 my cars, except for one family vehicle. Always had a car that was considered the
1684 02:22:36 --> 02:22:43 family vehicle. But I've always had company cars. Every gasoline intake that
1685 02:22:43 --> 02:22:50 I put in those except for my family car is 100 cent write off. When I buy food
1686 02:22:50 --> 02:22:54 at a restaurant. It used to be you had to talk about business, but he did away
1687 02:22:54 --> 02:22:57 with that. And now it's not like that anymore. But 50% of whatever you spend
1688 02:22:57 --> 02:23:03 on food. Look how much food costs if you go through a restaurant, so you go to go
1689 02:23:03 --> 02:23:08 to Ruth's Chris, can you have yourself a nice meal, nice crab cake, nice steak or
1690 02:23:08 --> 02:23:15 whatever. You can't not spend at least 200 some dollars. Well, you're beat out
1691 02:23:15 --> 02:23:20 of six of 200 hours plus the the TAT the tip if you want to give it some people
1692 02:23:20 --> 02:23:25 don't like to tip which I think is ignorant, but it is what it is. Your
1693 02:23:25 --> 02:23:31 your beat out of that money. Whenever I spend money here for whatever I spend is
1694 02:23:31 --> 02:23:37 deducted from whatever my taxable income is. When I go on vacations when I when I
1695 02:23:37 --> 02:23:44 buy things like my computer, all the peripherals that go from my computer,
1696 02:23:44 --> 02:23:52 all right off. So when I buy stuff, I buy the highest and everything. I want
1697 02:23:52 --> 02:23:58 the maximum benefit of having the best. And I want the maximum right off. See,
1698 02:23:58 --> 02:24:01 when you're an employee working for a company, you're looking for what you can
1699 02:24:01 --> 02:24:06 afford, because you're getting beat for what you spend. Because you're not
1700 02:24:06 --> 02:24:10 financially literate. You've been indoctrinated. You've been told the
1701 02:24:10 --> 02:24:16 American Dream is go to work, get a good job, get an education, get a house get
1702 02:24:16 --> 02:24:20 tied up in a 30 year mortgage, fuck 30 year mortgages. If you have a mortgage,
1703 02:24:20 --> 02:24:24 you're an idiot. You're paying fucking two times three times for a house that's
1704 02:24:24 --> 02:24:28 already too much money when it's just so much easier for you to rent something
1705 02:24:28 --> 02:24:33 that you can afford. Learn how to invest, take that money, maximize it,
1706 02:24:33 --> 02:24:38 build it up and buy something fucking cash. Flow. It's easier said than done.
1707 02:24:38 --> 02:24:45 I understand that. I think look, I hear you. I hear you. But I was the same way.
1708 02:24:46 --> 02:24:51 I lived in apartments. I lived in areas that I would not feel comfortable
1709 02:24:51 --> 02:24:58 walking in. I did all that stuff. Nobody walks out. You know, let me rephrase
1710 02:24:58 --> 02:25:01 there are people walking around with servers. The numbers, but it wasn't me.
1711 02:25:05 --> 02:25:10 My middle name is Joe. Average fucking Joe. That's rockin from average Joe from
1712 02:25:10 --> 02:25:15 Middle River, Maryland. That is me. And if I can do this with all the hardships
1713 02:25:15 --> 02:25:21 and mental illness and shit that I had to deal with, I know you can. I've
1714 02:25:21 --> 02:25:26 already been here I've thought blazed that trail. I knew all the problems. I
1715 02:25:26 --> 02:25:29 know where you're going to Step and twist your ankle. Don't step there. I
1716 02:25:29 --> 02:25:35 have those. Listen to me. You don't want to listen to conversations like this.
1717 02:25:35 --> 02:25:38 Oh, I got better things to do Saturday night, listen to this guy talks seem to
1718 02:25:38 --> 02:25:41 love the way he talks about his own voice. No, and I don't I don't like my
1719 02:25:41 --> 02:25:49 own voice, actually. But the point is this. If someone that you knew had a big
1720 02:25:49 --> 02:25:54 ass fucking house, 10,000 square foot house, millions of fucking dollars,
1721 02:25:54 --> 02:25:59 makes money hand over fist doesn't go to work, just does whatever the fuck they
1722 02:25:59 --> 02:26:04 want to do. And they say, Hey, let me help you out. Let me show you how to
1723 02:26:04 --> 02:26:08 make some money. Would you tell that guy go fuck himself? Get out of going get
1724 02:26:08 --> 02:26:13 time listen to you. Know, you'd be like, Yeah, I'd love to hear what you have to
1725 02:26:13 --> 02:26:19 say. See differences. You just look at a chart that says demo down on the left
1726 02:26:19 --> 02:26:23 hand side. And that's a big impediment for some of you. You're a victim to
1727 02:26:23 --> 02:26:30 social media. You're a victim to indoctrination. See, I can't come out
1728 02:26:30 --> 02:26:36 here and promise you getting rich. I can, I won't. But for the people that
1729 02:26:36 --> 02:26:43 are astute. They can see they can read between the lines. Okay, he's not
1730 02:26:43 --> 02:26:48 promising that I'm gonna get rich. He says promising the younger the but tell
1731 02:26:48 --> 02:26:52 where this mark is gonna go before it does it more times than not. Okay. So
1732 02:26:52 --> 02:26:58 now what happens when I monetize that transaction? Oh, shit. And if I can
1733 02:26:58 --> 02:27:07 repeat it? Oh, my goodness. I didn't say it. This is something you came up with.
1734 02:27:08 --> 02:27:13 You came to that decision to start putting money behind it? And the
1735 02:27:13 --> 02:27:17 question really is, is who wouldn't? If you get really good at something, if you
1736 02:27:17 --> 02:27:22 knew the winning lottery numbers, three days out of a week, when you fucking
1737 02:27:22 --> 02:27:27 play the lottery. When you deliver pizza, to get some extra money to buy
1738 02:27:27 --> 02:27:31 more tickets, you would start doing all kinds of shit, right? And that's why I
1739 02:27:31 --> 02:27:37 entice all of you to simply go in and study what I've shared. If it's there,
1740 02:27:37 --> 02:27:41 you'll see it. And then you'll start doing the math and say, Oh, well if I do
1741 02:27:41 --> 02:27:46 this and this and then now all of a sudden, the traitor bug is bit you.
1742 02:27:47 --> 02:27:51 You're infected for life. And then once you see it working, you can't unsee it.
1743 02:27:52 --> 02:27:54 Everything else you listen to other people talking about why the markets
1744 02:27:54 --> 02:27:56 going up? Now it's laughable. It's comedy.
1745 02:27:58 --> 02:28:02 And that's what makes us in the the eyes of other people's discipline that were
1746 02:28:02 --> 02:28:06 toxic. No, we just it is what it is. It's the same thing when you go to a
1747 02:28:06 --> 02:28:11 football game. The other team and you know the what do you call it? The the
1748 02:28:11 --> 02:28:16 fans of the other team. They're in the stands with you. And they're talking
1749 02:28:16 --> 02:28:20 shit just like you're gonna talk to them. Steelers versus the Ravens. I
1750 02:28:20 --> 02:28:23 couldn't tell you anything about football. Okay, that's probably the
1751 02:28:23 --> 02:28:28 extent of it. But I know that that rivalry knew the fans go at each other.
1752 02:28:29 --> 02:28:33 It's the same thing with this. I don't come out heartbroken over this stuff
1753 02:28:33 --> 02:28:36 that when people say shit about me, I don't get upset about it. That's
1754 02:28:36 --> 02:28:41 laughable. To me. It's it's funny. The same thing with these fans, sometimes
1755 02:28:41 --> 02:28:46 some fanatics go too far. And they want to throw fists, or they want to do
1756 02:28:46 --> 02:28:50 things and follow you back to your car. And they want to follow you back to your
1757 02:28:50 --> 02:28:53 house and they discover how much brass you have. And they made the mistake.
1758 02:28:53 --> 02:29:00 Okay? That's the problem when people go too far. And it's important that if you
1759 02:29:00 --> 02:29:05 grow in this and you become some kind of a celebrity, which I don't want to be a
1760 02:29:05 --> 02:29:10 celebrity, that the level of attention, you're gonna discover some of you
1761 02:29:10 --> 02:29:17 aren't, aren't gonna be comfortable with it. So just know that you can become
1762 02:29:17 --> 02:29:24 huge in this industry and become huge in terms of influence. Be madly successful.
1763 02:29:25 --> 02:29:30 But you're gonna get some weirdos that simply just don't want to be weirdos.
1764 02:29:30 --> 02:29:35 And it just it's uncomfortable. It's weird. They sit outside your house, just
1765 02:29:35 --> 02:29:38 to get pictures of you going into the mailbox. They want to see your wife they
1766 02:29:38 --> 02:29:41 want to see your kids, they want to see what you're driving. They want to see
1767 02:29:41 --> 02:29:45 what your lawn looks like. They want to go through your trash cans. Like we
1768 02:29:45 --> 02:29:48 literally wait for the trash guys that come in our neighborhood before we put
1769 02:29:48 --> 02:29:53 our trash out. Because we have people in our trash cans. Think about that. It's
1770 02:29:53 --> 02:29:58 love at the next level kind of creepy shit, right? So just be careful what you
1771 02:29:58 --> 02:30:01 ask for because you really want to be big celebrity, you want to be all kinds
1772 02:30:01 --> 02:30:06 of attention, there's gonna be people that want to get closer to you. And if
1773 02:30:06 --> 02:30:09 you don't, you don't want to be best buddies with them, they become weirdos,
1774 02:30:09 --> 02:30:12 okay, and they take offense to it. And they make up lies about you and talk
1775 02:30:12 --> 02:30:17 cons, cons bullshit. And no matter what you do, there's gonna be other people
1776 02:30:17 --> 02:30:21 out there that will believe anything toxic said about you, even if it's not
1777 02:30:21 --> 02:30:26 true, in essence, the state of the world. So there are all the pitfalls and
1778 02:30:26 --> 02:30:29 the plagues that trading is going to present to you and how you navigate them
1779 02:30:29 --> 02:30:37 is up to you. I've shared what I have gone through myself, I have given you
1780 02:30:37 --> 02:30:41 some advice on how to think about it and how to navigate it. And the last bit of
1781 02:30:41 --> 02:30:45 business called just forgot about it and just remembered it. A lot of you're
1782 02:30:45 --> 02:30:49 asking where my son Cameron is in his trading. And for some of you that don't
1783 02:30:49 --> 02:30:57 know, I have my four boys and my 18 year old. He is the same one that was trying
1784 02:30:57 --> 02:31:03 to get funded through and got funded with three accounts with top step. He
1785 02:31:03 --> 02:31:08 made his way to their little leaderboard thing he put up there two days in a row,
1786 02:31:08 --> 02:31:15 whatnot, he had two payouts, and then failed the hold on to it, lost it, and
1787 02:31:15 --> 02:31:19 then tried to get I don't remember whatever their biggest, I think it's
1788 02:31:19 --> 02:31:23 100,000 account, wherever their biggest one is. He was trying to do that after
1789 02:31:23 --> 02:31:29 he lost his funded account. And then he failed on that. So what he's going
1790 02:31:29 --> 02:31:34 through, is he a girlfriend, and some of you that are little dick energy guys,
1791 02:31:34 --> 02:31:37 you're gonna say this is perfect excuses, blah, blah, whatever. He should
1792 02:31:37 --> 02:31:41 be perfectly because he's your son, and he should be doing this. I forced them
1793 02:31:41 --> 02:31:46 to do this on their own. I give them advice. I tell them how to trade. But
1794 02:31:46 --> 02:31:51 they still have to follow the rules. How many people get in the car accident, by
1795 02:31:51 --> 02:31:54 not simply follow the rules to stay on your side of the fucking road? That line
1796 02:31:54 --> 02:31:58 in the middle of the road? is there to say don't cross me? How many times do
1797 02:31:58 --> 02:32:01 you cross it? How many times are you texting and your shit goes over that
1798 02:32:01 --> 02:32:04 line. to Don't give me the bullshit about because he's my son, it's still
1799 02:32:04 --> 02:32:09 he's being held to accountability. I'm not making it easy for any of them. So
1800 02:32:11 --> 02:32:15 he had a girlfriend, and she was going away to college this year. And I sat
1801 02:32:15 --> 02:32:19 down with him on the summer. I said I'm just let you know, the chances of you
1802 02:32:19 --> 02:32:25 surviving a boyfriend relationship. Girlfriend type thing is next to zero.
1803 02:32:25 --> 02:32:30 Because you're going out of state you're gonna go on for months. And Cameron is
1804 02:32:30 --> 02:32:33 going to want to worry you to death, texting and you missing you whatever.
1805 02:32:33 --> 02:32:39 Because he's the romantic at heart. Like is that right? So long story short, the
1806 02:32:39 --> 02:32:45 inevitable happened. She said, You know, I can't stay with you in a boyfriend
1807 02:32:45 --> 02:32:51 relationship. So we can be friends. And she started dating another guy on
1808 02:32:51 --> 02:32:58 campus. So that's done him in terms of it broke his heart. He's, he's not, he's
1809 02:32:58 --> 02:33:03 not the same anymore. Like he doesn't have any kind of drive. He's depressed
1810 02:33:03 --> 02:33:09 all the time. It's, it's sad. But I see myself because my first wife is the same
1811 02:33:09 --> 02:33:14 way. Like she was my first and everything. And when she broke up, it
1812 02:33:14 --> 02:33:18 was devastating. Like, I couldn't think about anything but her. It was just, it
1813 02:33:18 --> 02:33:23 was a mess. It was total mess. And he's going through that right now. So he
1814 02:33:23 --> 02:33:26 doesn't want to do any trading. He doesn't want to do video games, he
1815 02:33:26 --> 02:33:29 doesn't want to hang out with family, he doesn't want to do anything. He just
1816 02:33:29 --> 02:33:34 goes to work comes home tired and sore, and then hates his life. He said, so
1817 02:33:35 --> 02:33:39 it's depression. That's the reality of the real world, folks, okay, trading
1818 02:33:39 --> 02:33:44 doesn't remove it. Okay. Even if you make money, those things are gonna
1819 02:33:44 --> 02:33:48 happen in your life, you're gonna have a breakup, you're gonna have a health
1820 02:33:48 --> 02:33:52 problem, you're gonna, you know, get into a car accident and things are gonna
1821 02:33:52 --> 02:33:55 get broken or destroyed, and you're gonna have to pay money out of pocket,
1822 02:33:56 --> 02:34:00 things are gonna blow up that, you know, cost you to replace, all those things
1823 02:34:00 --> 02:34:07 are stressful. And he's young, when he's 18 years old, is his first adult thing.
1824 02:34:08 --> 02:34:15 And he's wrestling with it. So, guys, ladies, you don't know this. But men
1825 02:34:15 --> 02:34:20 really have it hard when a girl breaks up with them, especially when he didn't
1826 02:34:20 --> 02:34:25 see it coming. And they were cute together. If they weren't having the
1827 02:34:25 --> 02:34:28 separation of college, I think they would still be together. But you know,
1828 02:34:28 --> 02:34:32 he spent months away from each other. And then you are separate from your
1829 02:34:32 --> 02:34:36 family to in a new location, constantly stressed with school, and somebody
1830 02:34:36 --> 02:34:39 starts giving you attention. What are you gonna do? You're gonna pile up with
1831 02:34:39 --> 02:34:43 them. And it's natural. It's unfortunate, but it's still it's
1832 02:34:43 --> 02:34:50 natural. And he's wrestling with that. So that's where he's at. He's not
1833 02:34:50 --> 02:34:54 actively trying to do anything except for work his job and he's going through
1834 02:34:54 --> 02:34:59 depression. So that's the reality of the real world, folks. I mean, it is what it
1835 02:34:59 --> 02:35:04 is. He has to snap out of that. He has to pull himself together. And it took a
1836 02:35:04 --> 02:35:08 while for me to do it when I was younger. But eventually, I realized that
1837 02:35:08 --> 02:35:13 it's one person that I wasn't meant to be with. It was nice while it lasted. I
1838 02:35:13 --> 02:35:18 learned from it. And I have better things to go and conquer. And that'll
1839 02:35:18 --> 02:35:25 happen for him too. But that's where he's at. And he's not in there trying to
1840 02:35:25 --> 02:35:31 do anything else with with top step. He's not trying to do anything at all
1841 02:35:31 --> 02:35:37 with trading. So we're giving him space. I'm not trying to push on him when he
1842 02:35:37 --> 02:35:42 wants to talk to me about anything, you know, I'm available for it. But he'll
1843 02:35:42 --> 02:35:47 get tired of working in the oil, you'll be like, Okay, Doc, can you help me, I
1844 02:35:47 --> 02:35:49 already told him, I said, you know, when you're ready to do it, we'll just sit
1845 02:35:49 --> 02:35:53 down, and we'll trade together. That's how we'll do it. And then you'll watch
1846 02:35:53 --> 02:35:58 me do it, you'll copy what I'm doing. I'll explain why I'm doing it. And he'll
1847 02:35:58 --> 02:36:01 make money and he'll learn how to deal with ourselves. And by the amount of
1848 02:36:01 --> 02:36:06 money he makes, he will never put it down. That was like the last card I was
1849 02:36:06 --> 02:36:09 going to use. I didn't want to do that part in the beginning, because it
1850 02:36:09 --> 02:36:14 creates codependency but like, that's my insurance card with him. And that's what
1851 02:36:14 --> 02:36:18 all you want, but I'm not obligated to any of you. He's my son, he's gonna
1852 02:36:18 --> 02:36:21 succeed, he will be successful at it. But I gotta let him go through these
1853 02:36:21 --> 02:36:27 periods of uncomfortable. Where if I don't do this, this is what it's like.
1854 02:36:28 --> 02:36:31 So that when when he starts making money, consistently in its annual
1855 02:36:31 --> 02:36:41 salaries per month, he won't do anything to mess that up. Not a relationship. Not
1856 02:36:41 --> 02:36:46 someone else's a friend. Nothing. That's his business, isn't it? His interest to
1857 02:36:46 --> 02:36:50 keep it guarded? And he's not going to make stupid decisions because he's
1858 02:36:50 --> 02:36:55 running an enterprise. But how do you teach an 18 year old that stuff? They
1859 02:36:55 --> 02:37:00 gotta go through some stuff. They got to feel discomfort. And for the people
1860 02:37:00 --> 02:37:04 that's going to try to play father one on one for me, okay, and tell me I
1861 02:37:04 --> 02:37:08 should do this do that. You manage your own kids, okay? You manage your own
1862 02:37:08 --> 02:37:11 kids, and you do what you got to do in your life and your family. I'll do the
1863 02:37:11 --> 02:37:14 way I want to do it. I'm not taking advice on how to raise my fucking kids.
1864 02:37:14 --> 02:37:19 Okay. But they won't be homeless as let's put it that way. And none of my
1865 02:37:19 --> 02:37:24 kids live in fucking trailers. I'm gonna toss that in here. Because it's some
1866 02:37:24 --> 02:37:27 stupid shit. None of my kids live in fucking trailers, and they're not
1867 02:37:27 --> 02:37:32 fucking going to be homeless. So there you go. But anyway, Vinnie, Vinnie me
1868 02:37:32 --> 02:37:36 bring your bitch ass into Robins cup. I'm absolutely going to be in there and
1869 02:37:36 --> 02:37:40 I'm gonna throttle your fucking ass. Bring your shit Mickey Mouse because I'm
1870 02:37:40 --> 02:37:45 going to fucking cartoon your ass all the way through next year. Then the real
1871 02:37:45 --> 02:37:50 fun starts until talk to you next time. Be safe.