ICT YT - 2024-08-06 - ICT 2024 Mentorship - Lecture 02
Last modified by Drunk Monkey on 2024-08-07 10:36
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Outline
02:53 - Audio volume issues during live stream.
- The speaker is frustrated with comments about the audio volume, insisting they have good equipment and are using it properly.
- The speaker blocks text messages from unknown senders due to privacy concerns, mentioning their phone number and address are publicly available.
05:25 - Market analysis and trading strategies.
- ICT explains the importance of journaling and logging for traders.
- The speaker discussed their preference for pre-recorded lectures over live streaming due to their perfectionism and human frailties.
- The speaker introduced new concepts and visual aids to help viewers understand market behavior and observe charts without forcing predictions.
09:21 - Technical analysis and trading with a mentorship approach.
- Caleb wants to see a swing low followed by a long trade, with a reminder to check audio quality.
- The speaker is teaching their son how to trade and wants to show proper technique.
- The speaker emphasizes the importance of being present in the market and having a job.
13:03 - Trading strategies and journaling for personal growth.
- ICT explains the price continuum theory, using 15-minute time frames for intraday trading.
- New Zealand lawmakers passed a law allowing arrest for not receiving the arm ticket from Mr. 19.
- ICT emphasizes the importance of slowing down in the initial stages of trading to avoid making mistakes.
- ICT encourages traders to bring their own personality to the learning process to achieve success.
- The speaker emphasizes the importance of journaling and logging market observations and decisions made, even on non-trading days.
- The speaker encourages self-reflection and identifying opportunities for improvement through journaling, rather than dwelling on past mistakes.
20:10 - Journaling for self-improvement, avoiding toxic opinions.
- ICT advises filtering out toxic opinions and journaling for self-improvement.
- ICT emphasizes the importance of maintaining a positive mindset in journaling.
23:51 - Importance of journaling and self-reflection in personal growth and mentorship.
- ICT advises against engaging with toxic people or those who try to flatter (ICT, 0:23:51)
- ICT emphasizes the importance of balance in self-coaching and encouragement (ICT, 0:23:51)
- The speaker emphasizes the importance of personal contribution in the initial stages of a mentorship experience.
- The speaker wants to see if the person can stick to a process of studying charts and journaling their findings.
27:47 - Trading with precision and flexibility.
- ICT emphasizes the importance of understanding price action and overcoming fear of missing moves.
- ICT clarifies confusion around references to time, stating that he meant to look for directional moves before 7am, not avoid looking before that time.
- The speaker advises against relying solely on a smartphone for trading, suggesting a laptop with at least 15 inches of surface space is necessary for proper analysis.
- The speaker will demonstrate how to integrate a trading view subscription into a 15-minute time frame chart, showing how to study price movements and identify patterns.
- ICT emphasizes the importance of precision in trading, but acknowledges that it's unrealistic to demand perfection.
- ICT encourages traders to be flexible and adaptable, rather than getting upset when things don't go as planned.
35:25 - Using 15-second charts for trading, with emphasis on reducing risk and increasing opportunities.
- Trader emphasizes importance of focusing on one time frame, the 15-second chart.
- The speaker emphasizes the importance of taking action and reducing risk in trading, particularly with the 15-second time frame.
- The speaker's use of the 15-second time frame has led to responses from some listeners, including those who feel they have been given a "shortcut" or "golden ticket."
39:15 - Using TradingView for market analysis and avoiding fake brokers.
- ICT explains why son doesn't have live data, despite watching delayed videos.
- ICT rejects affiliation with brokers, emphasizes honesty and integrity in trading.
43:10 - Trading view charting and real-time data for a unique learning experience.
- Caleb learns trading through real-time data analysis with his father, who provides insights and executes trades live on the chart.
- Caleb gains unique perspective by seeing his father's real-time data analysis and trade execution, with the ability to stalk the chart and learn from his father's decisions.
- The speaker has faced challenges in the past and has learned to anticipate market movements through real-time data and charting.
- The speaker's student, Caleb, will not spend money on trading view charting or real-time data until the third Friday of November.
48:17 - Trading London session and New York session, focusing on relative equal highs and lows.
- ICT explains that prior to 7am New York time, London session price data and profile should be observed, not market profile making higher low of the day.
- Confusion about start time is clarified, with ICT emphasizing 7am New York time as the earliest reference point for price observation.
- ICT teaches day of week and time of day London session trading.
- ICT focuses on New York session market reversal profiles.
- ICT explains that before 7am New York time, traders should focus on relative equal highs and lows, not actual highs and lows.
- ICT uses the 5-minute chart to identify potential relative equal lows, making mental notes for future trading decisions.
55:27 - Patience and dedication in trading, with emphasis on repetition and experience.
- The speaker emphasizes the importance of patience and repetition in trading, as it takes time and effort to develop skills and gain experience.
- The speaker encourages listeners to submit themselves to the process of learning and improving, rather than rushing to be significant with no talent or understanding.
58:13 - Identifying price action and liquidity in the forex market using the 15-minute, 5-minute, and 1
- Observe liquidity engagement on charts to identify potential relative equal lows.
- ICT identifies relative equal highs and lows on 15-5-1 min charts to encapsulate price action.
- Retail traders look for support and resistance, while ICT seeks liquidity and inefficiencies.
01:03:20 - Identifying fair value gaps and using them for trading.
- ICT explains the concept of fair value gaps and how they can be used to identify potential trading opportunities.
- ICT highlights several inefficiencies in the market, including small gaps and imbalances, and shows how to use these to enter trades with minimal risk.
- The speaker emphasizes the importance of fair value gaps in analyzing price action, as they can be used to identify potential areas of support or resistance.
- The speaker introduces a new concept related to fair value gaps, which involves incorporating volume imbalances into the analysis to improve precision.
- The speaker discusses the importance of identifying fair value gaps in candlestick patterns, which can indicate potential price movements.
- The speaker demonstrates how to identify fair value gaps by analyzing the volume imbalance in a candle, and how to ignore any wicks that are below the halfway point of the candle.
01:10:48 - Technical analysis and chart patterns.
- Trader explains market manipulation through algorithm-induced buying pressure.
- ICT explains inversion fair value gaps in his book, emphasizing their importance in identifying potential turning points.
01:14:42 - Trading with breaker inversion fair value gaps.
- Inversion, fair value gaps, and breaker trading strategies discussed.
- ICT identifies reversal patterns in fair value gaps.
01:18:45 - Trading strategies using chart analysis.
- ICT emphasizes importance of relative equal highs and lows in trading.
- Trader identifies optimal trade entry point based on inversion and fair value gap.
01:22:00 - Identifying and trading fair value gaps in price action.
- ICT identifies areas of price action where stops can be placed and reversals can occur.
- ICT uses inefficiencies in price action to identify support and resistance levels.
- ICT identifies efficient price action by focusing on fair value gaps and sell side imbalances.
- By analyzing these signs, traders can remove ambiguity and focus on specific trades with high probability of success.
- ICT explains the importance of experience in trading, emphasizing the need for hands-on practice and hindsight.
- ICT highlights the significance of the first fair value gap prior to a stop run, using a red or pink color code to distinguish it from other gaps.
01:29:52 - Identifying trading opportunities through analysis of sell side imbalances and buy side efficiencies.
- ICT discusses stop management and identifies potential entry points based on sell side imbalances and buy side efficiencies.
- ICT analyzes price action, identifying potential reversals and trading opportunities.
01:33:24 - Analyzing stock market trends and identifying potential price movements based on pre-market range.
- ICT explains Judah swing, manipulation of price action against expected direction.
- ICT explains how to anticipate price movements by analyzing pre-market range.
01:36:46 - Trading strategies and market structure analysis.
- ICT explains the optimal trade entry pattern, using a 60-72% retracement level and 70.5 level.
- ICT emphasizes the importance of waiting for relative equal highs or lows during the morning session.
- The speaker discusses the importance of anticipating manipulation in the market, using the example of a gap and a city.
- The speaker highlights the role of bodies in the market, including the use of stops and the creation of inefficiencies.
- ICT emphasizes the importance of relative equal highs and lows in trading.
01:43:44 - Technical analysis and trading strategies.
- ICT wants to see market action align with fair value gaps, with a focus on London session low or high.
- ICT warns of low-probability trade setup due to overlapping patterns.
01:47:07 - Annotating charts and retaining memories.
- I annotate charts to retain significant price action memories subconsciously.
01:49:29 - Using technical analysis to manage emotions and make informed trading decisions.
- ICT emphasizes logging useful information to manage regret and fear.
- The speaker emphasizes the importance of managing emotions and expectations in trading, using a journal and role-based ideas to develop skill sets.
- The speaker identifies specific times of day (7-9 am) and price levels (highs/lows) to watch for potential manipulation, with a focus on waiting for a breakdown before entering a trade.
01:53:18 - Using Fibonacci levels to identify potential price movements.
- Analyzes price swings after the fact to teach range finding.
- Ict uses a model to identify convergence of levels in agreement with old highs or lows.
- Eye is drawn to sell side and balance by side efficiencies, including down, close, big range candles.
- The speaker emphasizes the importance of sticking with a trading idea and process, even when faced with opposition or uncertainty.
- The speaker warns against entering trades too quickly or without proper setup, leading to potential losses and emotional distress.
02:00:39 - Identifying trading opportunities using technical analysis and entry models.
- ICT explains how to identify potential entry points in the market by analyzing price action and identifying patterns such as breakers and inversion fair value gaps.
- ICT emphasizes the importance of studying price action in hindsight to develop an entry model that resonates with your observations.
02:03:49 - Trading psychology and self-awareness.
- Trader seeks to manage risk and find contentment in trading with minimal activity.
- The speaker emphasizes the importance of filtering out negativity and managing exuberance to avoid failure.
- The speaker advises against becoming emotionally stimulated by one's own abilities, and instead focuses on keeping a positive mindset.
02:07:44 - Trading and investing with a focus on simplicity and understanding market odds.
- ICT emphasizes the importance of a business-like approach to trading, prioritizing routine and monotony over emotions and excitement.
- ICT warns against seeking advice from unproven and unreliable sources, as they may try to use others for their own significance.
- The speaker emphasizes the importance of understanding the logic behind trading decisions and trusting one's own experience over proprietary algorithms.
- The speaker advises against blindly following any trading strategy without proper understanding and risk management, even if it seems simple or obvious.
02:13:50 - Using social media sentiment for trading, with a focus on opposing opinions and their impact on decision-making.
- ICT uses social media as a sentiment gauge for trading ideas and validates them by observing the reactions of his followers.
- ICT shares his trading ideas publicly and observes how the market reacts, using the reactions to confirm or disprove his ideas.
- ICT prioritizes accuracy over speed, valuing honesty and transparency in trading.
02:17:39 - Trading and emotional control.
- The speaker emphasizes the importance of saving and consistently doubling income before quitting a job.
- The speaker warns against trying to quit a job without sufficient savings and trading proficiency.
- ICT warns of emotional manipulation in trading, risking physical and mental health.
02:22:01 - Trading mindset and strategies for success.
- ICT emphasizes the importance of managing trades soberly and avoiding unfulfilled delivery of price.
- Trader prioritizes consistency and self-awareness over aggressive trading.
02:26:01 - Technical analysis and trading strategies using candlestick charts.
- ICT discusses technical analysis techniques for identifying trade opportunities.
- The mentor emphasizes the importance of real-time chart analysis and forward testing for consistent profitability in trading.
- By studying repeating price patterns at specific times of the day, traders can set realistic expectations and improve their chances of success.
02:31:08 - Trading, humility, and contentment.
- ICT warns against young men's desire for validation through risky trades.
- The speaker advises against comparing oneself to others in the industry, instead focusing on personal growth and contentment.
- The speaker encourages the listener to prioritize their own journey and not worry about being faster or better than others.
02:35:27 - Trading strategies and analysis of a price run.
- ICT highlights a price run on the 5-minute chart, annotating key levels and a potential immediate rebalance.
- ICT emphasizes the importance of identifying disruptions and trading accordingly, avoiding afternoon trading.
02:38:11 - Trading strategies using price delivery continuum theory.
- The speaker discusses the price delivery continuum theory, which provides a continuous opportunity for traders to participate in the market.
- The speaker emphasizes the importance of being consistent with small trades in the beginning to build the mindset and skill set for trading.
- Algorithm identifies key price points to rebalance inefficient markets.
02:43:48 - Algorithmic trading and market dynamics.
- ICT explains how algorithmic trading works, using examples from the audio.
- The algorithm constantly offers higher prices, regardless of buying or selling pressure.
02:47:15 - Trading inefficiencies and potential buying opportunities in a stock.
- ICT identifies a price drop opportunity despite limited move due to time and price inefficiency.
02:49:14 - Using 15-second charts for trading and identifying high-probability setups.
- The speaker emphasizes the importance of aligning with the market's movements and avoiding emotional trading decisions.
- The speaker believes that live streamers on YouTube often miss out on significant price movements due to their limited perspective and emotional decision-making.
- ICT explains how to use 15-second charts for trading, highlighting the importance of reference points and algorithmic trading.
- ICT challenges the idea that retail traders can outsmart algorithms by buying and selling at specific price levels, arguing that the market is scripted based on time.
- Caleb explains how to identify high probability setups using chart analysis.
- Caleb expresses frustration with low engagement and considers taking tomorrow off.
Transcription
| 1 | 00:02:53,200 --> 00:02:56,740 | Well, good morning. This is an audio check |
| 2 | 00:03:01,780 --> 00:03:10,320 | now, before we get into this, my comment section and my text messages on my cell |
| 3 | 00:03:10,320 --> 00:03:17,580 | phone and email box and every form of communication that anyone could get to |
| 4 | 00:03:17,580 --> 00:03:22,100 | me, everyone was trying to let me know that the volume was too low yesterday, |
| 5 | 00:03:23,420 --> 00:03:30,200 | and I'm doing the same thing I did yesterday. Okay, I noticed that some of |
| 6 | 00:03:30,200 --> 00:03:34,880 | the individuals that left comments saying that the audio was too low or |
| 7 | 00:03:34,880 --> 00:03:39,260 | that I was using a cheap microphone or whatever. I actually have good equipment |
| 8 | 00:03:39,860 --> 00:03:47,380 | to sometimes YouTube just doesn't want to communicate the way a streamer would |
| 9 | 00:03:47,380 --> 00:03:52,180 | like them to do. And I'm not doing anything different today. Um, I went |
| 10 | 00:03:52,180 --> 00:03:56,260 | through the process of checking everything I have the microphone |
| 11 | 00:03:56,320 --> 00:04:01,800 | literally almost clipping. There's a little gage that shows how, how high the |
| 12 | 00:04:01,800 --> 00:04:08,760 | audio goes up as I speak and I'm and I'm at the last little line before it goes |
| 13 | 00:04:08,760 --> 00:04:12,540 | into the orange, and then it's in red, and then it starts clipping. Then it's |
| 14 | 00:04:12,540 --> 00:04:19,800 | really bad audio. So the compression and all of the things that YouTube does on |
| 15 | 00:04:19,800 --> 00:04:25,760 | its servers sometimes corrects any issues through the capture of live |
| 16 | 00:04:25,760 --> 00:04:31,160 | streaming. I've actually had this happen in some of the, you know, the not live |
| 17 | 00:04:31,160 --> 00:04:35,060 | session, but lectures and videos I've made in the past where the audio, even |
| 18 | 00:04:35,060 --> 00:04:41,500 | on my side, when I would listen to it, would sound different than my original |
| 19 | 00:04:41,500 --> 00:04:47,620 | capture that's on my system. So I'm not doing anything to try to make it harder |
| 20 | 00:04:47,620 --> 00:04:52,720 | for you to listen to me. I'm not using substandard equipment. I have a pretty |
| 21 | 00:04:52,720 --> 00:04:57,880 | good amount of money in stuff I'm using, and I don't know what else to do. So my |
| 22 | 00:04:57,880 --> 00:05:02,640 | volume's exactly what it's. Supposed to be. My microphone is working properly, |
| 23 | 00:05:03,000 --> 00:05:07,080 | and I don't know what else to tell you. Okay, so if you're sending me text |
| 24 | 00:05:07,080 --> 00:05:11,040 | messages, by the way, I don't ever really get to see them until later on. |
| 25 | 00:05:11,640 --> 00:05:16,800 | And generally, I block your phone number because you took it upon yourself to |
| 26 | 00:05:17,460 --> 00:05:22,460 | step into my private area of my life, and I know my phone number and my |
| 27 | 00:05:22,460 --> 00:05:26,900 | address and all those things are on the internet. I'm not inviting you to send |
| 28 | 00:05:26,900 --> 00:05:31,340 | me text messages. So you can send me something one time, but I'll never see |
| 29 | 00:05:31,340 --> 00:05:34,940 | it again because you've crossed that line. It's kind of like the people that |
| 30 | 00:05:34,940 --> 00:05:38,060 | come to my door knock on my door, I'd like to meet you and talk to you. ICT, |
| 31 | 00:05:38,060 --> 00:05:41,060 | please don't do that. I'm not going to go out there and talk to you. I'm not |
| 32 | 00:05:41,060 --> 00:05:44,740 | going to shake your hand. I'm not going to shake your hand off. I'm not going to |
| 33 | 00:05:44,740 --> 00:05:48,100 | do a selfie with you. I'm not that important. So anyway, today it's going |
| 34 | 00:05:48,160 --> 00:05:52,000 | to be a little bit more technical, but I promise it won't be too much and it |
| 35 | 00:05:52,000 --> 00:05:57,580 | won't be a long session. Okay, I have an eye appointment tomorrow, just so you |
| 36 | 00:05:57,580 --> 00:06:03,000 | guys know, for scheduling purposes, we will be doing an afternoon lecture, so |
| 37 | 00:06:03,000 --> 00:06:08,400 | we'll be doing a pm session and some role based ideas for you to look at the |
| 38 | 00:06:08,400 --> 00:06:14,160 | market during that time. Caleb and so I won't be here tomorrow morning session, |
| 39 | 00:06:14,220 --> 00:06:19,080 | but we'll start the stream at 1:30pm eastern time tomorrow. So Wednesday |
| 40 | 00:06:19,080 --> 00:06:23,480 | session will be an afternoon session, and then Thursday, we'll be back to a |
| 41 | 00:06:23,480 --> 00:06:29,600 | morning session, and Friday will be a morning session as well. Okay, so one of |
| 42 | 00:06:29,600 --> 00:06:33,980 | the things I want you to understand, Caleb, is you when you're doing your |
| 43 | 00:06:33,980 --> 00:06:37,520 | journaling and your logging, which is what you're going to be primarily doing |
| 44 | 00:06:37,520 --> 00:06:42,880 | for the full month of August, okay, you're not trying to push any buttons, |
| 45 | 00:06:42,880 --> 00:06:48,100 | you're not trying to demo trade. You're not trying to do anything specific about |
| 46 | 00:06:48,100 --> 00:06:52,120 | entering the market, but you're just collecting data, collecting information, |
| 47 | 00:06:52,660 --> 00:06:57,520 | and you're being organized. So that way, it's training and activating your |
| 48 | 00:06:57,520 --> 00:07:01,740 | reticular activating system. Okay, that means the when you see a car that you |
| 49 | 00:07:01,740 --> 00:07:06,060 | just bought, it seems like everybody else bought the same car. It's only |
| 50 | 00:07:06,060 --> 00:07:10,200 | because it's now meaningful to you. So the things I introduced yesterday, I |
| 51 | 00:07:10,500 --> 00:07:15,480 | kind of like want to give you the rule based idea on what it is, very specific, |
| 52 | 00:07:15,780 --> 00:07:19,080 | and I have to clarify a few things, because it was live stream yesterday, |
| 53 | 00:07:19,740 --> 00:07:24,920 | and I said a couple things incorrectly after listening to the playback. And a |
| 54 | 00:07:24,920 --> 00:07:28,640 | couple of you actually reached out to me an email and questioned them, questioned |
| 55 | 00:07:28,640 --> 00:07:33,260 | me about what I meant, about certain areas of my dialog, and I realized I |
| 56 | 00:07:33,260 --> 00:07:36,680 | didn't say something correctly. And for instance, it was me referring to the |
| 57 | 00:07:36,680 --> 00:07:41,080 | second stage of re accumulation. I called it miss. Called it second stage |
| 58 | 00:07:41,200 --> 00:07:44,800 | redistribution. Oh, that's where market makers sell out. But because I'm out |
| 59 | 00:07:44,800 --> 00:07:48,640 | here without a script, I'm not following cue cards, I'm not reading teleprompter, |
| 60 | 00:07:49,240 --> 00:07:56,560 | I'm just going on my own steam and just what I see at the time. So I'm going to |
| 61 | 00:07:56,560 --> 00:08:01,560 | invariably make a mistake of MIS calling something. It's not intentional. It's |
| 62 | 00:08:01,560 --> 00:08:06,420 | not to confuse or anything. But I'm human, so I'm not AI like some of you |
| 63 | 00:08:06,420 --> 00:08:11,460 | actually think I am. I have frailties and thoughts just like any one of you. |
| 64 | 00:08:11,460 --> 00:08:16,140 | So if I'm out here in front of the world, doing it live, I'm going to make |
| 65 | 00:08:16,140 --> 00:08:21,380 | a mistake, say something incorrectly. I'm going to, you know, have no way of |
| 66 | 00:08:21,380 --> 00:08:27,020 | editing that out and make it more palatable for a first time viewer to |
| 67 | 00:08:27,020 --> 00:08:29,900 | listen to it and not have any distractions by something I did as a |
| 68 | 00:08:29,900 --> 00:08:34,880 | human being, and that's why I prefer to always to do pre recorded lectures, |
| 69 | 00:08:34,880 --> 00:08:40,840 | because my obsessive compulsiveness wouldn't let me do the live streaming, |
| 70 | 00:08:42,340 --> 00:08:45,940 | but I've spent a lot of time in the last year or so, just getting over a lot of |
| 71 | 00:08:45,940 --> 00:08:50,140 | that stuff. And I'm in my 50s, so I'm trying to take things a little bit |
| 72 | 00:08:51,520 --> 00:08:57,520 | easier. I make things too personal when it don't need to be. So anyway, I |
| 73 | 00:08:57,520 --> 00:09:01,680 | introduced some things yesterday, visually. I talked about what the market |
| 74 | 00:09:01,680 --> 00:09:05,400 | was going to do, why it should behave a specific way, and how you should be |
| 75 | 00:09:05,400 --> 00:09:12,180 | comfortable sitting in front of the charts and observing and getting used to |
| 76 | 00:09:12,180 --> 00:09:16,200 | doing that initially and not trying to force yourself into trying to pick a |
| 77 | 00:09:16,200 --> 00:09:20,280 | direction so you can impress dad, not try to tell me what you think is going |
| 78 | 00:09:20,280 --> 00:09:25,460 | to happen beforehand. That way you can tell that, hey, I did that right. Remove |
| 79 | 00:09:25,460 --> 00:09:28,880 | the right and wrong right now, just get that out of your head. You've already |
| 80 | 00:09:28,880 --> 00:09:32,780 | sent me text messages. Tell me what you think's going to happen. Okay, now for |
| 81 | 00:09:32,780 --> 00:09:37,760 | the purposes, for everyone here to know what he sent me, I'm not going to show |
| 82 | 00:09:37,760 --> 00:09:43,660 | you the screen, but I'm going to read, I didn't actually read it word by word, |
| 83 | 00:09:43,660 --> 00:09:50,200 | but I want you to see what Caleb's expectations were are for today, and |
| 84 | 00:09:50,200 --> 00:09:57,640 | this is without any prodding or coaxing on my part. At 7:33am he sends me a |
| 85 | 00:09:57,640 --> 00:10:02,460 | chart that I really don't understand with. Showing me. So that's the point of |
| 86 | 00:10:02,460 --> 00:10:07,140 | today's lesson. I want your charts to be organized. I want it to be very specific |
| 87 | 00:10:07,140 --> 00:10:13,380 | in capturing what I want to see so that way we can measure your progress going |
| 88 | 00:10:13,380 --> 00:10:18,960 | forward, and that way your your charts will look uniform every day, and then at |
| 89 | 00:10:18,960 --> 00:10:23,840 | the end of the week, you know, we'll sit down with a weekly recap, and that'll be |
| 90 | 00:10:23,840 --> 00:10:29,360 | your first video. Everybody's asking for your YouTube channel right now. There's |
| 91 | 00:10:29,360 --> 00:10:34,880 | nothing on it yet. Okay, so hopefully this weekend, we'll have something where |
| 92 | 00:10:34,880 --> 00:10:39,200 | we sit down together, maybe a resume call, and we'll review what you've done |
| 93 | 00:10:39,620 --> 00:10:44,200 | and how to go into next week as well. So it's kind of like over the shoulder |
| 94 | 00:10:44,200 --> 00:10:50,320 | approach to ICT grooming and teaching his son, mentoring him, and that way you |
| 95 | 00:10:50,320 --> 00:10:56,920 | get to be a part of that experience. So but he says at 734 he says he wants to |
| 96 | 00:10:56,920 --> 00:11:01,740 | see it, take the swing low, then go long, take out the relative equal highs. |
| 97 | 00:11:01,740 --> 00:11:08,040 | And then reminds me, don't forget to do an audio check. Listen the audio is |
| 98 | 00:11:08,040 --> 00:11:11,460 | going to be what the audio is going to be. Okay? So don't send me any messages, |
| 99 | 00:11:14,880 --> 00:11:18,240 | and for the assets to send it really rudely in the comment section, I never |
| 100 | 00:11:18,240 --> 00:11:21,680 | will see a comment from you ever again. So I make you invisible to the channel, |
| 101 | 00:11:21,980 --> 00:11:25,040 | so you think you're leaving messages and posts on my channel, but I'm never |
| 102 | 00:11:25,040 --> 00:11:29,300 | seeing that again. So if you're rude, I got no time for you. So anyway, Caleb |
| 103 | 00:11:29,300 --> 00:11:35,900 | thinks that there's going to be a rally higher today, and that's not to say |
| 104 | 00:11:35,960 --> 00:11:39,440 | that's right or wrong, because I purposely have to cut myself away from |
| 105 | 00:11:39,440 --> 00:11:43,060 | looking at the charts. So I'm sitting down with you right now, with the |
| 106 | 00:11:43,060 --> 00:11:47,560 | exception of this loading trading view and opening up the quadrants that are on |
| 107 | 00:11:47,680 --> 00:11:52,000 | the screen. Now the four charts, there's should be a chart in the upper left hand |
| 108 | 00:11:52,000 --> 00:11:59,380 | corner, right up here. That's my 15 minute time frame chart. Every chart |
| 109 | 00:11:59,380 --> 00:12:02,640 | here is naked. That means I have absolutely zero annotations on them, and |
| 110 | 00:12:02,640 --> 00:12:06,060 | this is what it's going to be like for you if you have a job, or if you're in |
| 111 | 00:12:06,060 --> 00:12:10,980 | university, or if you're sleeping and you're coming back to the marketplace to |
| 112 | 00:12:10,980 --> 00:12:16,140 | kind of learn what has happened, to train your eye. Okay, |
| 113 | 00:12:17,640 --> 00:12:20,840 | for the folks that are here that are just chomping at the bit, to watch me |
| 114 | 00:12:20,840 --> 00:12:25,940 | push buttons and enter trades. That's not today. The reason why is because I'm |
| 115 | 00:12:25,940 --> 00:12:29,840 | teaching my son on how to start, and anybody else wants to listen, this is |
| 116 | 00:12:29,840 --> 00:12:33,200 | the proper way of doing it. I've already proved yesterday I can call it minute by |
| 117 | 00:12:33,200 --> 00:12:36,080 | minute and tell you where it's going to go. If you didn't see that, go back and |
| 118 | 00:12:36,080 --> 00:12:39,680 | listen to it again. But we're going to go back into yesterday's price action |
| 119 | 00:12:40,160 --> 00:12:44,860 | and show how if you can't be there live, okay, say you can't watch me live |
| 120 | 00:12:44,860 --> 00:12:47,800 | either, because your boss is over your shoulder, constantly hovering over top |
| 121 | 00:12:47,800 --> 00:12:51,040 | of you, and you just don't want to risk losing your job. Please, don't do that. |
| 122 | 00:12:51,340 --> 00:12:54,820 | Don't lose your job, because you need that right now, until you get to the |
| 123 | 00:12:54,820 --> 00:12:59,140 | point where you can replace it with your investments and then eventually double |
| 124 | 00:12:59,140 --> 00:13:02,460 | it, and then have two years of living salary, and then you can quit your job. |
| 125 | 00:13:03,000 --> 00:13:09,360 | But until then, don't, we can't talk about quitting jobs. So the upper left |
| 126 | 00:13:09,360 --> 00:13:14,400 | hand corner is my 15 minute time frame. The lower left hand corner is a five |
| 127 | 00:13:14,400 --> 00:13:21,440 | minute chart, and then the upper right hand corner is a one minute chart, and |
| 128 | 00:13:21,440 --> 00:13:26,660 | for teaching purposes and to answer a few questions that came up from my |
| 129 | 00:13:26,660 --> 00:13:31,400 | private mentorship students, how to hold on to a trade and or how to look for it, |
| 130 | 00:13:32,780 --> 00:13:36,140 | additional entries if you missed the ideal one that would be on the one |
| 131 | 00:13:36,140 --> 00:13:40,720 | minute chart. So I'm going to give you a little bit of a lesson on the price |
| 132 | 00:13:40,720 --> 00:13:46,240 | continuum, price delivery continuum theory, which is where we go through all |
| 133 | 00:13:46,240 --> 00:13:50,560 | of the time frames and all the time frames, as I mentioned yesterday, this |
| 134 | 00:13:50,560 --> 00:13:54,940 | is it. I'm not using anything higher than a 15 minute time frame, because |
| 135 | 00:13:54,940 --> 00:13:58,780 | it's intraday trading. You don't need a daily chart, you don't need an hourly |
| 136 | 00:13:58,780 --> 00:14:01,740 | chart, you don't need a 30 minute chart. You don't need anything above a 15 |
| 137 | 00:14:01,740 --> 00:14:06,120 | minute time, because everybody, everyone's clock. I don't care if you're |
| 138 | 00:14:06,120 --> 00:14:12,900 | from Switzerland, Uganda, you know, New Zealand, by the way, did I? Did I read |
| 139 | 00:14:12,900 --> 00:14:17,400 | something correctly New Zealand? Did you just pass up bill or a law that says |
| 140 | 00:14:17,400 --> 00:14:22,400 | that they can arrest you if you've not received the arm ticket from mister 19. |
| 141 | 00:14:23,060 --> 00:14:27,260 | And I can't say everything exactly as I want, but it seems like I read something |
| 142 | 00:14:27,260 --> 00:14:32,120 | that said that New Zealand lawmakers have passed the law stating that they |
| 143 | 00:14:32,120 --> 00:14:34,880 | can arrest you if you don't have the thing that should have been introduced |
| 144 | 00:14:35,060 --> 00:14:42,580 | as a remedy for mister 19. Wow, that's and enforceably. Give it to you, send me |
| 145 | 00:14:42,580 --> 00:14:46,540 | an email if you have any information on that, and title it New Zealand in that |
| 146 | 00:14:46,540 --> 00:14:49,960 | way, I'll look for it because I get too many emails. I can't read everybody's |
| 147 | 00:14:49,960 --> 00:14:55,780 | email. But yeah, wherever you're from, you're all going to have the same face |
| 148 | 00:14:55,780 --> 00:14:59,920 | one o'clock and everybody has a seven o'clock in the morning. Everyone has. |
| 149 | 00:15:00,000 --> 00:15:02,640 | Eight o'clock in the morning, and everybody has a nine o'clock in the |
| 150 | 00:15:02,760 --> 00:15:08,700 | morning. And as long as that time is set to New York local time, every one of us |
| 151 | 00:15:08,700 --> 00:15:14,520 | are going to be on the same page every single market day. We're all going to be |
| 152 | 00:15:14,520 --> 00:15:22,520 | expecting the same thing. There's no way for me as the educator here to have out. |
| 153 | 00:15:22,760 --> 00:15:26,540 | I don't have a way of saying, Well, this is what I really meant, and it did this |
| 154 | 00:15:26,540 --> 00:15:31,640 | and that it either works or it doesn't right. Yeah, that's the litmus test. It |
| 155 | 00:15:31,640 --> 00:15:37,940 | either works or it doesn't. It either holds up, it stands the test of time, or |
| 156 | 00:15:37,940 --> 00:15:42,700 | it doesn't. How can you prove that to yourself to trust it. That's the |
| 157 | 00:15:42,700 --> 00:15:47,620 | important factor. And this is the part that most traders, when they're |
| 158 | 00:15:47,620 --> 00:15:52,600 | developing themselves, they rush through this. And this is such an essential part |
| 159 | 00:15:53,200 --> 00:15:58,000 | that I can't stress it enough, and I've done it a lot in lectures and teachings, |
| 160 | 00:15:58,000 --> 00:16:03,720 | and all of my mentor videos is focused on slowing you down in the initial |
| 161 | 00:16:03,720 --> 00:16:08,160 | stages because you're too quick to run out there and try to make money. And you |
| 162 | 00:16:08,160 --> 00:16:11,820 | don't know what you're supposed to know. You don't even know what it is that you |
| 163 | 00:16:11,820 --> 00:16:17,040 | should know and what you should avoid doing. And I'm going to cover a little |
| 164 | 00:16:17,040 --> 00:16:21,020 | bit of that today, also how to organize your charts, and then I'm going to show |
| 165 | 00:16:21,020 --> 00:16:23,960 | you what you need to be doing as homework for the rest of the day, |
| 166 | 00:16:23,960 --> 00:16:28,460 | because we're only going to be here to around nine o'clock. Hopefully, that's |
| 167 | 00:16:28,460 --> 00:16:35,120 | my plan, at least, right? So that way you can go in and start looking for very |
| 168 | 00:16:35,120 --> 00:16:41,080 | specific things that your eye will jump to initially. Doesn't mean that that's |
| 169 | 00:16:41,080 --> 00:16:44,260 | going to be your model. Doesn't mean that's going to be your entry technique |
| 170 | 00:16:44,320 --> 00:16:48,040 | that you live by and make all your money from. It just means that that's your |
| 171 | 00:16:48,040 --> 00:16:55,480 | first one, and it's an invitation for your personal interest, what you |
| 172 | 00:16:55,480 --> 00:16:58,780 | gravitate to initially, wherever you are in your development as a trader, and |
| 173 | 00:16:58,780 --> 00:17:03,360 | what you've been accustomed to seeing from my content, I have to allow that |
| 174 | 00:17:03,360 --> 00:17:08,100 | part. You have to give yourself permission to have that part as well, |
| 175 | 00:17:08,700 --> 00:17:12,300 | because if I force you into we're only going to use breakers, we're only going |
| 176 | 00:17:12,300 --> 00:17:15,900 | to use order blocks, we're only going to use fair value gaps. It's going to |
| 177 | 00:17:15,900 --> 00:17:20,840 | alienate a large segment of you, and you will be left behind in your development, |
| 178 | 00:17:20,840 --> 00:17:25,760 | and it's not that's not proper learning, that's not a hallmark or a signature of |
| 179 | 00:17:25,760 --> 00:17:31,040 | a good teacher. So I have to have to make allowance for you to bring your own |
| 180 | 00:17:31,040 --> 00:17:35,240 | personality to this, and you're going to see the benefits of that. Because some, |
| 181 | 00:17:35,300 --> 00:17:40,220 | for some of you, you've been trying to lock yourself into one trick pony ICT |
| 182 | 00:17:40,220 --> 00:17:43,840 | concepts, because either I've done a video, or I've done a trade, or I've |
| 183 | 00:17:43,840 --> 00:17:47,260 | recorded something, or I said something that really resonated with you, and you |
| 184 | 00:17:47,260 --> 00:17:52,060 | think because it sounded cool, you know, you want to be tapped to cool in your |
| 185 | 00:17:52,060 --> 00:17:59,140 | trading, instead of technically linked to your personality, it is going to be |
| 186 | 00:17:59,140 --> 00:18:03,060 | easier for you to See how you've held yourself back by trying to force |
| 187 | 00:18:03,060 --> 00:18:07,800 | yourself into a mode that nobody asked you to do. The proper learning is for |
| 188 | 00:18:07,800 --> 00:18:11,160 | you to come into this and say, Okay, there's lots of things in this candy |
| 189 | 00:18:11,160 --> 00:18:15,840 | store I can have. Which one do I want to work with first? It doesn't mean it has |
| 190 | 00:18:15,840 --> 00:18:19,740 | to be my favorite is, but I have to start somewhere, so I leave that up to |
| 191 | 00:18:19,740 --> 00:18:23,060 | you, and now it'll make much more sense when we get into the charts and the |
| 192 | 00:18:23,060 --> 00:18:26,900 | technical aspects. But initially, I want to give you the protocol that you go |
| 193 | 00:18:26,900 --> 00:18:30,260 | through every single day when you sit down in front of the charts, whether |
| 194 | 00:18:30,260 --> 00:18:35,300 | you're doing it live or if it's after the fact, and you come home from |
| 195 | 00:18:35,300 --> 00:18:39,080 | university, come home from school, if you wake up and now you're going to have |
| 196 | 00:18:39,080 --> 00:18:42,700 | time to do it, you haven't made the changes in your life to allow yourself |
| 197 | 00:18:42,700 --> 00:18:45,880 | to actually be in from the charts there live, or you're working, let's just be |
| 198 | 00:18:45,880 --> 00:18:49,240 | real. Okay, you may not be able to do what we're doing right here live, and |
| 199 | 00:18:49,240 --> 00:18:52,840 | you maybe you can't see any doing live streams when I'm doing them and having |
| 200 | 00:18:52,840 --> 00:18:56,980 | the benefit of of borrowing my experience. So what do you do with that |
| 201 | 00:18:56,980 --> 00:19:00,300 | information? How do you journal? How do you log what it is that you should be |
| 202 | 00:19:00,300 --> 00:19:04,140 | observing and studying each day, and then referring back to that same |
| 203 | 00:19:04,200 --> 00:19:08,280 | information on an individual day by day basis. On the weekend, whether it be a |
| 204 | 00:19:08,280 --> 00:19:12,180 | Saturday or a Sunday, when I used to do Twitter spaces, I would talk about how |
| 205 | 00:19:12,180 --> 00:19:15,540 | many this is our day to kind of like ground ourselves. The markets are not |
| 206 | 00:19:15,540 --> 00:19:18,540 | trading, unless you trade crypto and you're then you think that that's going |
| 207 | 00:19:18,540 --> 00:19:23,600 | to be real money in the future. All those things, but aside, that is the day |
| 208 | 00:19:23,600 --> 00:19:27,620 | where we rest. We don't try to trade, we don't try to formulate any kind of |
| 209 | 00:19:27,860 --> 00:19:33,080 | hardline ideas. We go back and refer to what decisions we made, what actions we |
| 210 | 00:19:33,080 --> 00:19:38,660 | took and or actions that we should have but didn't, and identify opportunities |
| 211 | 00:19:38,660 --> 00:19:42,100 | that we weren't able to see then and then encourage ourselves through |
| 212 | 00:19:42,100 --> 00:19:45,760 | journaling saying, These are the things I did right, and these are new |
| 213 | 00:19:45,760 --> 00:19:51,400 | opportunities for me to investigate and look into, because this was something I |
| 214 | 00:19:51,400 --> 00:19:58,240 | didn't have the pleasure or the the luxury of understanding or identifying |
| 215 | 00:19:58,240 --> 00:20:03,480 | at the time. You see what I did there, I. I took something that every one of us |
| 216 | 00:20:03,480 --> 00:20:05,760 | is going to have happen to us. Okay, there's a |
| 217 | 00:20:07,200 --> 00:20:11,340 | opportunity for us to see what we could have done better. Now, if you're on |
| 218 | 00:20:11,340 --> 00:20:15,420 | social media or you invite other people, usually people that are an idiot. They |
| 219 | 00:20:15,540 --> 00:20:18,600 | don't know how to trade, they're toxic. They work at Jiffy Lube, they got a |
| 220 | 00:20:18,600 --> 00:20:21,800 | raise, and they're probably on the verge of getting fired, you're going to listen |
| 221 | 00:20:21,800 --> 00:20:25,940 | to those individuals give you insight or opinions in your comment section, or |
| 222 | 00:20:26,120 --> 00:20:29,840 | they're going to comment to you in a live chat via someone else's live |
| 223 | 00:20:29,840 --> 00:20:36,200 | stream, if you make yourself available, okay, toxic people are going to give you |
| 224 | 00:20:36,200 --> 00:20:40,240 | their opinion unsolicited, and they're idiots. You don't want to listen to an |
| 225 | 00:20:40,240 --> 00:20:45,100 | idiot. The village idiot mentality is in every segment, in every community of |
| 226 | 00:20:45,100 --> 00:20:49,480 | trading, there's a whole bunch of them. There's a whole tribe of them, okay? And |
| 227 | 00:20:49,780 --> 00:20:53,860 | you should not care what anybody else thinks. And if someone takes the time to |
| 228 | 00:20:53,860 --> 00:20:57,700 | congratulate you or say, Well done, you need to dismiss that as well, because |
| 229 | 00:20:57,760 --> 00:21:01,620 | you're not trying to feel ego. You're not trying to allow anyone to influence |
| 230 | 00:21:01,620 --> 00:21:06,540 | you negatively, either. But that same element needs to occur in your |
| 231 | 00:21:06,540 --> 00:21:11,040 | journaling, which means you have to filter out all of the toxicity that |
| 232 | 00:21:11,040 --> 00:21:14,520 | you're invariably going to reach into and say, I didn't do that right. That |
| 233 | 00:21:14,520 --> 00:21:20,040 | was stupid of me. I should have saw that so and so forming in the chart, or I saw |
| 234 | 00:21:20,040 --> 00:21:25,220 | it, but I ignored it because I wanted to be right. And then you you feel |
| 235 | 00:21:25,220 --> 00:21:29,120 | compelled to you think journaling is a beat up session, like you're you're |
| 236 | 00:21:29,120 --> 00:21:32,960 | you're giving yourself an ass, chilling. You're not trying to parent yourself. |
| 237 | 00:21:33,980 --> 00:21:38,720 | You're not trying to be Dad. You're not trying to be mom, overbearing. You know, |
| 238 | 00:21:38,720 --> 00:21:43,120 | correcting you and punishing you, what you're trying to be is the best coach |
| 239 | 00:21:43,540 --> 00:21:48,160 | for someone that you love. If you're trying to coach someone that you |
| 240 | 00:21:48,160 --> 00:21:51,280 | genuinely love, and you don't want to break the spirit of and you want to |
| 241 | 00:21:51,280 --> 00:21:55,720 | encourage that person, you should love yourself just as much as you love your |
| 242 | 00:21:55,720 --> 00:21:59,020 | spouse or your children. You have to have some measure of respect for |
| 243 | 00:21:59,020 --> 00:22:03,900 | yourself, and tearing yourself a new ass in a journal is not going to help you |
| 244 | 00:22:03,960 --> 00:22:07,800 | get better. You're not trying to play a drill sergeant. We mentioned this |
| 245 | 00:22:07,800 --> 00:22:11,340 | yesterday as an analogy. When you go through boot camp, they're tearing these |
| 246 | 00:22:11,340 --> 00:22:16,440 | individuals down mentally and physically and to the breaking point, and then |
| 247 | 00:22:16,440 --> 00:22:21,500 | they're shaping them up into a sword. Okay, you're going to be a Marine, |
| 248 | 00:22:21,500 --> 00:22:25,160 | you're going to be a machine, you're going to be a soldier of fortune. You're |
| 249 | 00:22:25,160 --> 00:22:28,220 | going to you're going to go out there and rip people's hearts out and eat it |
| 250 | 00:22:28,220 --> 00:22:32,780 | before they die. You know, they're trying to turn them into an animal for |
| 251 | 00:22:32,780 --> 00:22:37,460 | war purposes. That's not what you're doing in a journal. Okay? You're not |
| 252 | 00:22:37,460 --> 00:22:41,980 | trying to mutate yourself into some crazy Wolverine. You're literally |
| 253 | 00:22:42,280 --> 00:22:47,080 | coaching yourself, and you're encouraging yourself in any opportunity |
| 254 | 00:22:47,080 --> 00:22:51,460 | where someone else could and yourself as well could take something out of context |
| 255 | 00:22:51,940 --> 00:22:58,840 | and say, this is a perfect opportunity for me to dump on myself and spend too |
| 256 | 00:22:58,840 --> 00:23:04,800 | much time dwelling on a negative thought, or a negative reaction, or an |
| 257 | 00:23:04,800 --> 00:23:10,260 | inability to respond or react to an opportunity, and frame it and |
| 258 | 00:23:10,260 --> 00:23:14,280 | encapsulate it with toxicity. You don't want to do those things in your journal. |
| 259 | 00:23:14,760 --> 00:23:19,020 | Now, for people that are idiots, they're going to say, well, you're just sugar |
| 260 | 00:23:19,020 --> 00:23:22,520 | coating it, okay, and it's a waste of time. Journaling is a waste of time. I |
| 261 | 00:23:22,520 --> 00:23:26,900 | promise you, these people are not making money. These people do not have trade. |
| 262 | 00:23:26,900 --> 00:23:31,040 | They're not consistent, and they're just absolutely miserable. Credence. You need |
| 263 | 00:23:31,040 --> 00:23:35,720 | to keep all that junk and filth out of your mind, out of your circle of |
| 264 | 00:23:35,720 --> 00:23:41,800 | influence. That's why social media is a cancer. This is my only mode of social |
| 265 | 00:23:41,800 --> 00:23:46,000 | media. I am not on Instagram. I'm not active on Twitter. I am not doing |
| 266 | 00:23:46,000 --> 00:23:49,540 | anything else. I'm not in a discord. I'm not running any kind of social media |
| 267 | 00:23:49,540 --> 00:23:53,140 | where people can engage with me. Hey, how you doing? It's not how that works. |
| 268 | 00:23:53,380 --> 00:23:59,980 | My private mentorship. We have a space, okay? We have a space where we |
| 269 | 00:23:59,980 --> 00:24:03,120 | communicate. When I want to make something available to them, I talk to |
| 270 | 00:24:03,120 --> 00:24:08,400 | them. That's it. And it's at my time. It's at my I don't schedule anything. |
| 271 | 00:24:08,400 --> 00:24:13,500 | It's just when you see me, I appear. And that's it. Outside of YouTube, this very |
| 272 | 00:24:13,500 --> 00:24:18,540 | YouTube channel, there's no other ICT experience, and when I mentioned that I |
| 273 | 00:24:18,540 --> 00:24:22,340 | was never going to do a paid mentorship, I had people leaving comments yesterday |
| 274 | 00:24:22,340 --> 00:24:27,800 | saying you said you was never going to do a mentorship. Right for money. I'm |
| 275 | 00:24:27,800 --> 00:24:30,920 | not asking for payments. You're not sending me any money here. You're |
| 276 | 00:24:30,920 --> 00:24:35,960 | watching because you want to watch or you don't want to watch. So you have to |
| 277 | 00:24:35,960 --> 00:24:41,020 | manage a lot of people's personalities if you allow them to have any |
| 278 | 00:24:41,020 --> 00:24:44,800 | interaction with you. So the best thing you can do if you're really going to |
| 279 | 00:24:44,800 --> 00:24:50,320 | make an attempt to do do it well, is what I told my son. I allowed him to be |
| 280 | 00:24:50,320 --> 00:24:55,420 | amongst my private mentorship students. He's a he's among them right now, but |
| 281 | 00:24:55,420 --> 00:24:59,320 | I've also told him, don't talk to any of them, and don't think that it's rude. |
| 282 | 00:24:59,500 --> 00:25:02,880 | Don't think. That you're trying to be pompous or arrogant, because these |
| 283 | 00:25:02,880 --> 00:25:08,040 | individuals are going to try to warm up to you. And I have leakers in my in my |
| 284 | 00:25:08,040 --> 00:25:12,480 | groups. They're they're there, okay, so I told them, don't even listen to it. |
| 285 | 00:25:12,480 --> 00:25:15,300 | They're going to blow smoke up your ass. They're going to try to befriend you. |
| 286 | 00:25:15,420 --> 00:25:18,180 | They're going to say whatever they want. Or some of them might take a shot and |
| 287 | 00:25:18,180 --> 00:25:21,060 | say, hey, look, your dad's not on the leaderboard of Robin's cup. He's a frog. |
| 288 | 00:25:21,060 --> 00:25:23,660 | And what are you going to say about that? You to say about that? Well, they |
| 289 | 00:25:23,660 --> 00:25:26,480 | won't have the balls to do that because they don't get I'll bring them around to |
| 290 | 00:25:26,480 --> 00:25:32,600 | mentorship. But the point is this, don't allow toxic people or anyone to fluff |
| 291 | 00:25:32,600 --> 00:25:37,100 | you up, and you need to do the same thing in your journal. It doesn't mean |
| 292 | 00:25:37,100 --> 00:25:40,220 | you can't congratulate yourself and cheerlead yourself when you do it right. |
| 293 | 00:25:40,280 --> 00:25:44,320 | Just don't lay it on thick. Where you think you're, you know, the bee's knees, |
| 294 | 00:25:44,320 --> 00:25:48,520 | if you will, meaning that you're really a hot shot or better than you really |
| 295 | 00:25:48,520 --> 00:25:54,220 | are. So you have to be very, very balanced, but you're leaning heavily on |
| 296 | 00:25:54,520 --> 00:26:00,300 | coaching, encouraging. Yeah, you may have not observed a specific function in |
| 297 | 00:26:00,300 --> 00:26:04,020 | price delivery, and it just happened to be probably the biggest run of the day. |
| 298 | 00:26:04,500 --> 00:26:08,220 | And you in your infancy and your understanding you don't see those things |
| 299 | 00:26:08,220 --> 00:26:11,460 | forming yet, because you haven't had an experience doing these very things I'm |
| 300 | 00:26:11,460 --> 00:26:15,540 | going to show you today, and then studying it and looking at old price |
| 301 | 00:26:15,540 --> 00:26:22,940 | moves. This is exactly what you need and must do. You will not be consistent. You |
| 302 | 00:26:22,940 --> 00:26:27,800 | will not be consistently profitable. You will not be comfortable waiting for |
| 303 | 00:26:27,800 --> 00:26:34,040 | setups until you've done this part. Now I'm forcing Caleb to do this for a month |
| 304 | 00:26:34,340 --> 00:26:38,060 | because I want to see that number one, he can stick to the process of doing it |
| 305 | 00:26:38,060 --> 00:26:41,140 | over and over and again. I don't want to receive texts from him saying what he |
| 306 | 00:26:41,140 --> 00:26:43,900 | thinks going to happen. I don't care about his opinion, and it's not |
| 307 | 00:26:43,900 --> 00:26:48,040 | appropriate for him to have that understanding yet. Anyway, he thinks, he |
| 308 | 00:26:48,040 --> 00:26:51,760 | thinks that he should. He thinks that that's going to be a measuring stick so |
| 309 | 00:26:51,760 --> 00:26:56,440 | that can feel like, okay, my son's doing his part. No, I'm going to know you're |
| 310 | 00:26:56,440 --> 00:27:00,360 | doing your part by what I'm going to outline today, and then this weekend, |
| 311 | 00:27:00,360 --> 00:27:04,920 | when we see it together, I'll know if you've been doing it or not, because you |
| 312 | 00:27:04,920 --> 00:27:08,040 | can't make that up. It's something you have to journal. It's something you have |
| 313 | 00:27:08,040 --> 00:27:11,100 | to go through the process of studying the charts. You can't fake that. You |
| 314 | 00:27:11,100 --> 00:27:14,220 | can't watch 10 minutes of my video like my son Cameron did, and said, Yeah, I |
| 315 | 00:27:14,220 --> 00:27:18,060 | was watching your videos, dad and so and so. Okay, then I asked him something |
| 316 | 00:27:18,060 --> 00:27:21,320 | else, I said in the video, and he had no idea what I was talking about, because I |
| 317 | 00:27:21,320 --> 00:27:24,800 | know what he did. He skimmed through the video, listened for a couple buzzwords, |
| 318 | 00:27:25,040 --> 00:27:28,400 | and he fell into the same click. A lot of people do on the internet. They want |
| 319 | 00:27:28,400 --> 00:27:31,520 | to talk with the language, but they have no understanding, but they'll use market |
| 320 | 00:27:31,520 --> 00:27:34,760 | replay to teach my stuff. It doesn't make any sense. You don't want to fake |
| 321 | 00:27:34,760 --> 00:27:38,060 | it. You want to be able to do it genuine, and you want to have a genuine |
| 322 | 00:27:38,060 --> 00:27:43,960 | mentorship experience. Well, your part of this, your personal contribution in |
| 323 | 00:27:43,960 --> 00:27:50,320 | initial stages, is what this is all about today. Okay, so yesterday I talked |
| 324 | 00:27:50,320 --> 00:27:55,360 | about the process of not going above a 15 minute time frame. And I know some of |
| 325 | 00:27:55,360 --> 00:27:59,200 | you that have a higher Time Frame affinity for like, a daily chart, weekly |
| 326 | 00:27:59,200 --> 00:28:04,860 | chart, whatnot, that probably feels very uncomfortable hearing that. And I said |
| 327 | 00:28:04,860 --> 00:28:10,320 | this before, you don't need all those time frames. Now, when you have a model |
| 328 | 00:28:10,320 --> 00:28:14,760 | that you're risking money behind, it's important to refer to those things. But |
| 329 | 00:28:14,760 --> 00:28:18,720 | right now, the only thing you're trying to do is get familiar with reading price |
| 330 | 00:28:18,720 --> 00:28:25,700 | action and getting over that fear of missing moves, and fear of not knowing, |
| 331 | 00:28:26,000 --> 00:28:30,800 | the fear of not knowing what's going to happen next. That's an it's an enormous |
| 332 | 00:28:30,980 --> 00:28:38,300 | sense of, Well, it's like a barrier. You feel like you can't break through this |
| 333 | 00:28:38,300 --> 00:28:43,240 | invisible force field of, I wish I could know what it's going to do next, because |
| 334 | 00:28:43,240 --> 00:28:47,200 | if I could just do that, then I could be profitable. And I'm telling you, that's |
| 335 | 00:28:47,200 --> 00:28:55,960 | not true. That's not true, but it has a necessary role in your overall |
| 336 | 00:28:55,960 --> 00:28:59,620 | development, and it needs to be the first thing. Where's the market likely |
| 337 | 00:28:59,620 --> 00:29:05,580 | to move directionally, where is it going to gravitate to, and what time usually |
| 338 | 00:29:05,580 --> 00:29:09,900 | will these moves form? I introduced the very generic form of that yesterday. |
| 339 | 00:29:10,500 --> 00:29:13,920 | It's not complicated, and we're going to go through the rules very, very |
| 340 | 00:29:13,920 --> 00:29:17,040 | specific. And it's not a lot of them. It's not a whole lot of moving parts. |
| 341 | 00:29:17,040 --> 00:29:21,020 | And I'm going to clarify what I meant yesterday, prior to seven o'clock in the |
| 342 | 00:29:21,020 --> 00:29:25,040 | morning and what you're specifically looking for. Because I got a question |
| 343 | 00:29:25,040 --> 00:29:28,340 | from one of my private mentorship students, and I went back and listened |
| 344 | 00:29:28,340 --> 00:29:31,880 | to I was like, Oh yeah, I can see how that causes confusion. So I'm gonna |
| 345 | 00:29:32,000 --> 00:29:37,280 | address that as well. I apologize if I confuse a little bit of some of the |
| 346 | 00:29:37,280 --> 00:29:40,720 | references to time around that seven o'clock in the morning, because it does |
| 347 | 00:29:40,720 --> 00:29:46,600 | sound like I say, look for it before 7am and then later on, I say, you don't want |
| 348 | 00:29:46,600 --> 00:29:50,800 | to look before 7am so I'm going to clarify what I really meant there. And |
| 349 | 00:29:50,980 --> 00:29:54,400 | like I said, I'm not using a script. I don't have any kind of bullet points to |
| 350 | 00:29:54,400 --> 00:29:54,880 | go by. I'm |
| 351 | 00:29:55,060 --> 00:29:58,180 | I know what I want to talk about, but because I was watching price action |
| 352 | 00:29:58,180 --> 00:30:03,960 | live, my 10. Tim was on that as well as as talking about what it is I wanted to |
| 353 | 00:30:03,960 --> 00:30:07,080 | cover. But yes, there was a casual lesson. This is a little bit more |
| 354 | 00:30:07,080 --> 00:30:13,500 | specific, so I have lots of charts available to me in hardware, on screens |
| 355 | 00:30:13,500 --> 00:30:17,460 | that are off right now in front of me, I'm only physically working with a |
| 356 | 00:30:17,460 --> 00:30:23,180 | laptop computer. Most of you only have, like a tablet or a singular computer |
| 357 | 00:30:23,180 --> 00:30:30,380 | screen or a laptop, okay? And you can do everything from that, okay? I would |
| 358 | 00:30:30,380 --> 00:30:36,500 | counsel you not to try to put your faith in using just a smartphone. Okay? If |
| 359 | 00:30:36,500 --> 00:30:40,600 | there's something you're observing and studying on the you know, on the move, |
| 360 | 00:30:40,600 --> 00:30:44,200 | like you're at work and you're getting a bathroom break, or if you're on lunch |
| 361 | 00:30:44,200 --> 00:30:47,200 | break and you want to look at the market through your phone. I don't have any |
| 362 | 00:30:47,380 --> 00:30:51,460 | qualms against that, but if you're going to try to make an attempt to learn how |
| 363 | 00:30:51,460 --> 00:30:56,800 | to do this well and consistently, you need to have something larger than your |
| 364 | 00:30:56,800 --> 00:31:01,320 | smartphone. Okay? And I don't mean the one phone like my son Cody has. He opens |
| 365 | 00:31:01,320 --> 00:31:05,700 | it up and unfolds and it's a bigger screen. That's still not enough. You |
| 366 | 00:31:05,700 --> 00:31:10,260 | have to have a laptop a minimum, okay, about 15 inches, you know, minimum |
| 367 | 00:31:10,500 --> 00:31:16,920 | surface space. You may not have a trading view subscription that allows |
| 368 | 00:31:16,920 --> 00:31:21,740 | you to do some of the things that I'm going to refer to today. You do not need |
| 369 | 00:31:21,740 --> 00:31:25,160 | a sub one minute time frame, but I'm going to show you, for the people that |
| 370 | 00:31:25,160 --> 00:31:29,600 | do have that, how to integrate that into this. Okay, I mentioned it in passing |
| 371 | 00:31:29,600 --> 00:31:33,860 | yesterday, so now I'm going to give you the rules and how it looks, what it |
| 372 | 00:31:33,860 --> 00:31:38,000 | looks like rather in the price runs from yesterday and how to study today, |
| 373 | 00:31:38,000 --> 00:31:43,600 | because I won't be with you after the opening bell at 930 Eastern Time, the |
| 374 | 00:31:43,600 --> 00:31:46,600 | and also, the reason why I want to keep this short is because I have not been |
| 375 | 00:31:46,600 --> 00:31:51,520 | doing a lot of talking. And yesterday, you know, a little over two hours, I got |
| 376 | 00:31:51,520 --> 00:31:54,460 | a little horse yesterday. So I want to make sure I can preserve my voice. I |
| 377 | 00:31:54,460 --> 00:31:59,380 | don't want to come to you tomorrow and say I can't talk. I lost my voice. As |
| 378 | 00:31:59,380 --> 00:32:03,960 | much as some of you guys really want to hear hear me say I lost my voice. So I'd |
| 379 | 00:32:04,320 --> 00:32:07,320 | probably still sit out here and type over the chart and without having to say |
| 380 | 00:32:07,320 --> 00:32:10,320 | anything, and still do the same thing. But people that don't know English, |
| 381 | 00:32:10,320 --> 00:32:13,740 | they'll send me hate mail saying, I can't read what you're saying. Why don't |
| 382 | 00:32:13,740 --> 00:32:17,700 | you have subtitles? Because I'm not speaking. It's all being typed out. So |
| 383 | 00:32:17,940 --> 00:32:23,660 | your your chart, if you have the ability put all four charts up on the screen |
| 384 | 00:32:23,660 --> 00:32:27,620 | like this. Your upper left is 15 minute time frame. Lower Left is five minute. |
| 385 | 00:32:27,920 --> 00:32:33,620 | Upper right is one minute. And if you do have the ability to look at anything |
| 386 | 00:32:33,620 --> 00:32:37,820 | less than one minute, you can put a 15 second chart, not that you need it, but |
| 387 | 00:32:38,060 --> 00:32:44,080 | you're going to find out today that it is very, very informative for seeing |
| 388 | 00:32:44,080 --> 00:32:48,160 | what price is doing underneath these one minute candlesticks that you never |
| 389 | 00:32:48,160 --> 00:32:54,820 | really are aware of, usually or you probably didn't think of it okay prior |
| 390 | 00:32:54,820 --> 00:32:59,440 | to investigating and studying it, because there's a lot of things that you |
| 391 | 00:32:59,440 --> 00:33:03,240 | would see on any other client frame occurring on that 15 second chart, and |
| 392 | 00:33:03,240 --> 00:33:10,020 | it's very forgiving. So is if you missed a move and you missed an entry, the 15 |
| 393 | 00:33:10,020 --> 00:33:15,480 | second allows me to get into a move if I missed my ideal fair value gap, or if I |
| 394 | 00:33:15,480 --> 00:33:19,560 | have a limit order and I had the order sitting inside of a level that I feel |
| 395 | 00:33:19,560 --> 00:33:23,000 | pretty confident that it's going to trade too. Sometimes I've had, and if |
| 396 | 00:33:23,000 --> 00:33:28,160 | you watch some of my recorded sessions before, you can see where I have had |
| 397 | 00:33:28,160 --> 00:33:32,540 | limit orders, where it goes up and touches the limit order but doesn't go |
| 398 | 00:33:32,540 --> 00:33:37,580 | above it for the spread. And I've had one instance where it did technically go |
| 399 | 00:33:37,580 --> 00:33:42,340 | above, and the spread should have afforded me the fill, but it did not |
| 400 | 00:33:42,340 --> 00:33:46,300 | fill me. Guess what that means? That's the real world. That's what's going to |
| 401 | 00:33:46,300 --> 00:33:49,720 | happen to you when you start trading. You're going to have limit orders that |
| 402 | 00:33:49,720 --> 00:33:55,360 | don't get filled because we're using such a degree of precision. That is a |
| 403 | 00:33:55,360 --> 00:34:00,400 | welcome struggle. That's a challenge that I enjoy having. And you're going to |
| 404 | 00:34:00,400 --> 00:34:03,660 | learn to learn to have that, that mindset as well. Whereas right now, if |
| 405 | 00:34:03,660 --> 00:34:09,540 | you don't have a whole degree of importance placed around precision, when |
| 406 | 00:34:09,540 --> 00:34:14,220 | you don't get your fill on a thing, it's, it's, it's struggling point for |
| 407 | 00:34:14,220 --> 00:34:18,420 | you to wrestle with. Why did that thing take off without me? I'm never going to |
| 408 | 00:34:18,420 --> 00:34:22,280 | get another move. This is the only move I'm ever going to capture, and I missed |
| 409 | 00:34:22,280 --> 00:34:26,240 | it. That's what you think. That's what you feel. But me and my students that |
| 410 | 00:34:26,240 --> 00:34:31,520 | have done these things for years and years now we're comfortable with, well, |
| 411 | 00:34:31,520 --> 00:34:35,240 | I was trying to be so perfect and precise about where I wanted to get in |
| 412 | 00:34:35,240 --> 00:34:40,120 | at so I can have a very small stop, excuse me, very small stop loss. It |
| 413 | 00:34:40,120 --> 00:34:44,500 | didn't fill me, and it started running away. So I didn't get my best fill. We |
| 414 | 00:34:44,500 --> 00:34:48,700 | don't get upset about that. We're not cussing at the screen. Oh, you so and |
| 415 | 00:34:48,700 --> 00:34:53,260 | so's You didn't give me my fill. Okay, that is an expression, and you know, |
| 416 | 00:34:53,260 --> 00:34:57,820 | don't be a dick for a tick if you're trying to be very, very precise about |
| 417 | 00:34:57,820 --> 00:35:02,400 | your fills and your entries. Um. And you don't give yourself flexibility and |
| 418 | 00:35:02,400 --> 00:35:09,120 | permission to see it not fill sometimes you're going to have a real hard time in |
| 419 | 00:35:09,120 --> 00:35:13,980 | the early stages of order placement and learning how to trade entries, because |
| 420 | 00:35:14,040 --> 00:35:19,680 | you're going to be demanding perfection. And demanding Perfection isn't is an |
| 421 | 00:35:19,680 --> 00:35:24,020 | invitation for frustration and regret and struggle, and it's going to make |
| 422 | 00:35:24,020 --> 00:35:26,540 | your learning process a whole lot harder. And you know, in longer you |
| 423 | 00:35:26,540 --> 00:35:32,300 | don't want that. So a 15 second chart just I'm going to say this, and then |
| 424 | 00:35:32,300 --> 00:35:39,740 | we'll get into the business of the 15 five and one the the advantages of a 15 |
| 425 | 00:35:39,740 --> 00:35:44,440 | second chart is that I can get into a price run that I missed on a one minute |
| 426 | 00:35:44,440 --> 00:35:50,140 | chart, a five minute chart, or 15 minutes chart, or any other time frame |
| 427 | 00:35:50,140 --> 00:35:54,040 | that I may be looking at, but for the rules that I'm placing on you, Caleb, |
| 428 | 00:35:54,400 --> 00:35:59,680 | these are the only time frames until I tell you otherwise you're not looking at |
| 429 | 00:35:59,680 --> 00:36:04,200 | anything else. So don't send me a daily chart. Don't send me an hourly chart. |
| 430 | 00:36:04,260 --> 00:36:09,360 | Don't even ask me questions about any other time frame ever, until I introduce |
| 431 | 00:36:09,360 --> 00:36:13,680 | some other reason for you to look at another time frame. Because this, this |
| 432 | 00:36:13,680 --> 00:36:21,020 | universe right here, okay, this whole solar system of price action is all you |
| 433 | 00:36:21,020 --> 00:36:27,440 | need. You don't need anything else. You literally need nothing else but this. I |
| 434 | 00:36:27,440 --> 00:36:30,620 | mean, truth be taught. I said this before. I don't even need a chart. I |
| 435 | 00:36:30,620 --> 00:36:35,240 | don't need a chart to trade, but to communicate what it is. I know that I'm |
| 436 | 00:36:35,240 --> 00:36:41,200 | not going to teach. I use charts to kind of bridge the gap. So it's a very |
| 437 | 00:36:41,200 --> 00:36:49,300 | effective medium to prove that is. It's your task to see what I'm saying is |
| 438 | 00:36:49,300 --> 00:36:55,420 | valid or not. So y'all have this entire month to walk forward and see what it is |
| 439 | 00:36:55,420 --> 00:37:00,100 | I'm talking about, whether it works or not. You all will be able to see if it's |
| 440 | 00:37:00,580 --> 00:37:06,780 | based on fluff, or if it's really valid, I walked you through it yesterday, live |
| 441 | 00:37:06,900 --> 00:37:12,780 | over one minute chart every fluctuation to tell you what was going to happen. |
| 442 | 00:37:12,780 --> 00:37:18,240 | There's still huge opportunity for you as the person in the driver's seat of |
| 443 | 00:37:18,240 --> 00:37:21,260 | determining what it is you're going to do with this information, because |
| 444 | 00:37:21,260 --> 00:37:24,680 | there's, as you're going to see today, there's a lot of that in your disposal. |
| 445 | 00:37:24,920 --> 00:37:28,940 | You have a lot of input that you're going to bring to this. And I'm not |
| 446 | 00:37:28,940 --> 00:37:32,660 | asking you to send me an email saying, Okay, I watched this, and this is what |
| 447 | 00:37:32,660 --> 00:37:35,480 | I'm choosing to do, like, like, I'm going to sit down and say, well, that's |
| 448 | 00:37:35,480 --> 00:37:39,200 | a good decision of what you're focused on. And I think this is a great I don't |
| 449 | 00:37:39,200 --> 00:37:42,280 | have time to do that. There's too many of you that always try to reach out to |
| 450 | 00:37:42,280 --> 00:37:46,660 | me, and I physically don't have the time to respond to everyone, and that makes a |
| 451 | 00:37:46,660 --> 00:37:50,740 | lot of you upset, like I'm ignoring you specifically. No, I'm trying. I'm trying |
| 452 | 00:37:50,740 --> 00:37:56,020 | to ignore all of you. I've been trying to have a normal life, okay? And I have |
| 453 | 00:37:56,200 --> 00:38:01,140 | ICT ism all the time, but the 15 second census simply gives you more |
| 454 | 00:38:01,140 --> 00:38:04,680 | opportunities to get into a move that's underway. That's really all I'm saying, |
| 455 | 00:38:04,980 --> 00:38:12,360 | or to dial down and reduce the risk and the exposure of a stop loss that would |
| 456 | 00:38:12,360 --> 00:38:16,320 | otherwise probably require much more handles or pips. If you're referring to |
| 457 | 00:38:16,620 --> 00:38:21,320 | Forex, it can be reduced very small because you're locating a 15 second time |
| 458 | 00:38:21,320 --> 00:38:24,560 | frame. Now, don't think for a second that the 15 seconds just answers all the |
| 459 | 00:38:24,560 --> 00:38:30,500 | equation and problems of larger stop losses, because if you don't know how to |
| 460 | 00:38:30,500 --> 00:38:35,480 | reprice action, and if you don't know what that 15 five and one's doing, just |
| 461 | 00:38:35,480 --> 00:38:38,600 | because you looked at a 15 second, some of you are thinking, Oh, he just gave me |
| 462 | 00:38:38,600 --> 00:38:41,800 | the shortcut. There's there's a shortcut. All right. ICT, is to plug. |
| 463 | 00:38:41,980 --> 00:38:45,580 | Hey, he just gave us the sneakers, the golden ticket. Don't look at anything |
| 464 | 00:38:45,580 --> 00:38:49,300 | else, folks. Everything else is distraction. To red herring. 15 seconds |
| 465 | 00:38:49,300 --> 00:38:53,320 | is the answer. And when I started talking and trading off a 15 second |
| 466 | 00:38:53,320 --> 00:38:58,120 | chart, I got responses like that, like, oh bro, like you're the go, like you're, |
| 467 | 00:38:58,120 --> 00:39:02,880 | you've, you've, you've, tipped the hand, you made it. It's easy for us now and |
| 468 | 00:39:02,880 --> 00:39:08,460 | then, invariably, weeks later, they're like, I don't know, I'm getting chopped |
| 469 | 00:39:08,460 --> 00:39:12,720 | up on this 15 second track, right? Yeah, because you thought you were just going |
| 470 | 00:39:12,720 --> 00:39:17,340 | to jump to the head of the line and no adversity. And you can't do that. So |
| 471 | 00:39:17,340 --> 00:39:21,140 | son, when you're doing this, I know right now, he doesn't have just so you |
| 472 | 00:39:21,140 --> 00:39:28,760 | know, he doesn't have a membership or plan through trading deal. Okay, so that |
| 473 | 00:39:28,760 --> 00:39:33,140 | way, here's what you maybe don't know, but my product internship students have |
| 474 | 00:39:33,140 --> 00:39:34,880 | been monitoring this for a little while. |
| 475 | 00:39:36,020 --> 00:39:41,480 | The we're probably gonna go to like 920 but all this is essential, because I'm |
| 476 | 00:39:41,480 --> 00:39:45,460 | going to answer a lot of questions. That you're going to keep trying to send to |
| 477 | 00:39:45,460 --> 00:39:48,880 | me, and it's going to frustrate me because I am answering them in the |
| 478 | 00:39:48,880 --> 00:39:53,980 | dialog. But my son doesn't have live data, okay? And you're probably saying, |
| 479 | 00:39:53,980 --> 00:39:57,520 | Well, what business should he have trying to learn this stuff if he's not |
| 480 | 00:39:57,520 --> 00:40:02,820 | looking at live data? Because I am talking. To him, and I'm telling him up |
| 481 | 00:40:02,820 --> 00:40:14,280 | until recently now, I would tell him by me, either entering a trade, live, not |
| 482 | 00:40:14,340 --> 00:40:19,620 | Market Replay, not hindsight stuff, I would point his attention to a specific |
| 483 | 00:40:19,620 --> 00:40:23,660 | level, like I was outlining it yesterday for all of you watching. And thank you |
| 484 | 00:40:23,660 --> 00:40:26,900 | all for giving the thumbs up. I appreciate that. Last time I looked at |
| 485 | 00:40:26,900 --> 00:40:33,020 | was 17,000 thumbs up. So it's like 10% 170,000 175,000 people watch the video |
| 486 | 00:40:33,140 --> 00:40:37,400 | or live stream, either replay or whatever. It's still a little bit lower |
| 487 | 00:40:37,400 --> 00:40:40,340 | number. So, you know, I'm trying to figure out what you were expecting, |
| 488 | 00:40:40,340 --> 00:40:43,660 | because it literally did exactly what I said I was going to do. I was going to |
| 489 | 00:40:43,660 --> 00:40:50,200 | do. But he watches delayed data. And for some of you that can't afford trading |
| 490 | 00:40:50,200 --> 00:40:55,240 | view stuff, they do a Black Friday sale. And last year I bought, like, six years |
| 491 | 00:40:55,300 --> 00:41:00,960 | of trading view membership at the level I have, which is the highest I use, the |
| 492 | 00:41:00,960 --> 00:41:05,460 | highest one. And it was, I think it's like 600 bucks or something like that. I |
| 493 | 00:41:05,460 --> 00:41:10,440 | got like, six years of, like, everything that I use right now, which is the |
| 494 | 00:41:10,440 --> 00:41:15,480 | highest membership. You don't need the highest membership, okay? But I'm not a |
| 495 | 00:41:15,480 --> 00:41:18,960 | representative for TradingView. I'm not trying to invite you to spend, spend |
| 496 | 00:41:18,960 --> 00:41:23,000 | money there. This is just the medium that my community asked me if I would |
| 497 | 00:41:23,000 --> 00:41:30,200 | use when Mt four became exposed as a way for people to rig it, okay? And people |
| 498 | 00:41:30,200 --> 00:41:34,520 | accused me of using a white label broker, and I've already smashed that |
| 499 | 00:41:34,520 --> 00:41:40,240 | lie and conspiracy. It's destroyed. You watched me do it yesterday. Okay? I know |
| 500 | 00:41:40,240 --> 00:41:44,920 | what price is going to do. I don't need a a gimmick. Okay? I don't have a fake |
| 501 | 00:41:44,920 --> 00:41:49,480 | brokerage firm that like Hanko trade, okay, oh yeah, that's make this person |
| 502 | 00:41:49,480 --> 00:41:53,020 | look like he's made a lot of money, and I can go in and edit my trades, and that |
| 503 | 00:41:53,020 --> 00:41:55,780 | way you can get other people to go in and sign up with them. They can lose |
| 504 | 00:41:55,780 --> 00:42:00,300 | their money. And these types of brokers, you know, keep the money because they |
| 505 | 00:42:00,300 --> 00:42:05,640 | debunk you. And that's the that's an opinion. That's not my opinion. I've |
| 506 | 00:42:05,640 --> 00:42:09,660 | heard other people say that. So just for for the people of Hanko trade, they want |
| 507 | 00:42:09,660 --> 00:42:13,620 | to send me some mail. Just know that I'll, I'll respond to that accordingly |
| 508 | 00:42:13,620 --> 00:42:17,640 | as well. I'm using an analogy that's been said and banded about by other |
| 509 | 00:42:17,640 --> 00:42:23,180 | people. I would never trade Hanko trade, by the way, but the point is, I'm using |
| 510 | 00:42:23,240 --> 00:42:26,480 | a medium that the community introduced to me. I didn't know anything about |
| 511 | 00:42:26,480 --> 00:42:30,320 | trading, so don't think that it's an invitation for me to make money. There's |
| 512 | 00:42:30,320 --> 00:42:35,000 | no business arrangement with me. Trading view has asked me in the past to have |
| 513 | 00:42:35,000 --> 00:42:38,900 | some kind of partnership. I have declined that I still had the messages. |
| 514 | 00:42:39,200 --> 00:42:43,540 | That's been screenshot. I can load that up on my trading view and show it to |
| 515 | 00:42:43,540 --> 00:42:47,260 | you, but for privacy's sake, I'm not going to disclose the person from |
| 516 | 00:42:47,440 --> 00:42:51,580 | trading view, but I've been honest. I've never had an affiliate with anyone, so |
| 517 | 00:42:51,580 --> 00:42:58,000 | my opinion is always raw. It's honest, and sometimes it's going to be appearing |
| 518 | 00:42:58,000 --> 00:43:01,380 | disrespectful to them. If it's something I don't agree with if I say there's |
| 519 | 00:43:01,380 --> 00:43:04,980 | something that there's a problem with, I don't like it, like, for instance, fxcm, |
| 520 | 00:43:05,520 --> 00:43:08,640 | I think they're a shit broker, and they should have been shut down entirely, not |
| 521 | 00:43:08,640 --> 00:43:12,000 | just moved out of the United States. But that's my opinion, right? That's my |
| 522 | 00:43:12,000 --> 00:43:16,080 | personal experience with them, and I'm glad that the US can't deal with them, |
| 523 | 00:43:16,560 --> 00:43:26,600 | and they did you a favor by leaving Long story short, he has a task of securing |
| 524 | 00:43:26,660 --> 00:43:33,020 | on Black Friday a trading view plan or membership where he has real time data. |
| 525 | 00:43:33,140 --> 00:43:39,260 | So he has what he has a few months, because Black Friday is in November, so |
| 526 | 00:43:39,260 --> 00:43:46,180 | he is not going to need or require live, real time data at all, because I'm I'm |
| 527 | 00:43:46,180 --> 00:43:50,620 | providing that perspective. I'm providing that okay? I'm coaching him |
| 528 | 00:43:50,620 --> 00:43:56,320 | along, and then, because he's doing it with a delayed data, I am pointing at |
| 529 | 00:43:56,320 --> 00:44:01,260 | real time data and a setup that I'm expecting to take a trade on drawing to |
| 530 | 00:44:01,260 --> 00:44:04,320 | a pool of liquidity, whether it be relative equal highs or relative equal |
| 531 | 00:44:04,320 --> 00:44:10,440 | lows, and then he has the benefit of not even having any hindsight advantage, |
| 532 | 00:44:10,860 --> 00:44:14,880 | because he's now, what is it? 1520, I don't even know what the delay is. Okay, |
| 533 | 00:44:14,940 --> 00:44:19,260 | whatever the delay is on trading view, like, if you don't have a membership and |
| 534 | 00:44:19,260 --> 00:44:23,240 | you're looking at the futures chart. I don't know what the time limit or |
| 535 | 00:44:23,300 --> 00:44:28,460 | deferred, uh, delivery of whatever the real time Price is Right now, for me, or |
| 536 | 00:44:28,460 --> 00:44:31,940 | anyone else has real time data versus what trading view shows you like. I |
| 537 | 00:44:31,940 --> 00:44:37,760 | don't personally, I don't know what that is, but Caleb doesn't have any |
| 538 | 00:44:37,880 --> 00:44:43,360 | advantage. He doesn't have any resource to tap into the C, okay, I want to |
| 539 | 00:44:43,360 --> 00:44:46,480 | impress that, but I'm going to cheat, and I'm going to look at a chart that |
| 540 | 00:44:46,480 --> 00:44:49,420 | has real time the I know it's going to go there in the next couple minutes. So |
| 541 | 00:44:49,420 --> 00:44:52,480 | therefore I'm going to trade this, or I'm going to say it's going to do that. |
| 542 | 00:44:52,480 --> 00:44:58,060 | See, he hasn't had any of that. So because of that, he has a unique |
| 543 | 00:44:58,060 --> 00:45:02,100 | perspective as me as his. Dad, I have the experience. I can see it real time |
| 544 | 00:45:02,100 --> 00:45:06,720 | and know what it's most likely going to do more times than it's not. And then I |
| 545 | 00:45:06,720 --> 00:45:12,300 | enter a trade. So he can see dad doing it right. Dad calling it. Dad executing |
| 546 | 00:45:12,300 --> 00:45:16,080 | on it. Dad managing a real stop loss, managing a stop loss throughout, and |
| 547 | 00:45:16,080 --> 00:45:19,980 | then watching the targets get hit, or if it reverses and takes me out with a stop |
| 548 | 00:45:19,980 --> 00:45:24,740 | loss that prematurely and exits the trade. He sees all that stuff, you know, |
| 549 | 00:45:24,740 --> 00:45:29,360 | as it's going I update it constantly as it's going on. But then he has the |
| 550 | 00:45:29,360 --> 00:45:35,780 | ability to see the trade forming with me telling him what I'm doing with my |
| 551 | 00:45:35,780 --> 00:45:41,260 | account, with real time data. And it's a unique learning experience, because, |
| 552 | 00:45:41,260 --> 00:45:45,640 | number one, he has me telling him what I'm doing real time, but then he can |
| 553 | 00:45:45,640 --> 00:45:55,360 | stalk the chart. He can see it as it's forming, knowing that I have placed skin |
| 554 | 00:45:55,360 --> 00:46:02,100 | in the race with my execution. I have faced the save. I have money to lose. I |
| 555 | 00:46:02,100 --> 00:46:08,940 | have profits to make. I have a real management engagement with this idea, |
| 556 | 00:46:09,060 --> 00:46:14,040 | whereas he has just the luxury of I don't have to be right or wrong. I want |
| 557 | 00:46:14,040 --> 00:46:18,900 | to wait and see when the chart presents the things that I'm trying to learn, and |
| 558 | 00:46:18,900 --> 00:46:25,880 | it when it's given to you like that. It's like the best of the best. And for |
| 559 | 00:46:25,880 --> 00:46:30,260 | anybody that has an issue with that, you're an idiot. Okay? Because he has |
| 560 | 00:46:30,260 --> 00:46:35,900 | all of the advantages and none of this disadvantages. He can't lose money. He's |
| 561 | 00:46:35,900 --> 00:46:40,120 | being primed to look at it at the right time. And it's always the same times all |
| 562 | 00:46:40,120 --> 00:46:45,340 | the time, because the market is algorithmic, so it subconsciously trains |
| 563 | 00:46:45,340 --> 00:46:53,980 | him, and he's learning, on the surface level, what he should be feeling and how |
| 564 | 00:46:53,980 --> 00:47:00,540 | he manages expectations over time and until We get to Black Friday, which is |
| 565 | 00:47:01,020 --> 00:47:05,640 | in November, he'll purchase at a discount rate, because trading view |
| 566 | 00:47:05,640 --> 00:47:10,200 | always does a very, very deep discount. And I don't recall how much it is |
| 567 | 00:47:10,200 --> 00:47:16,080 | because I don't worry about price tags, but I bought it at that time because I |
| 568 | 00:47:16,080 --> 00:47:19,560 | realized I was spending full price by buying it in January, and I didn't know |
| 569 | 00:47:19,560 --> 00:47:22,460 | they were doing Black Friday. I don't usually worry about Black Friday sales |
| 570 | 00:47:22,460 --> 00:47:25,820 | stuff. Like, if I want something, I just buy it. And I don't really care to know |
| 571 | 00:47:25,820 --> 00:47:29,060 | what it costs. I don't shop around and try to get a good deal. I don't give a |
| 572 | 00:47:29,180 --> 00:47:32,720 | if I want something, it's in front of if it's in front of me, I'm taking it home |
| 573 | 00:47:32,720 --> 00:47:36,620 | with me. Well, treating you. I'm telling you, if you're buying it any other day, |
| 574 | 00:47:36,620 --> 00:47:41,680 | except for Black Friday, you're wasting money. So there you go. Then you're |
| 575 | 00:47:41,740 --> 00:47:45,880 | probably gonna be mad at me because I said that. But Caleb isn't going to be |
| 576 | 00:47:45,880 --> 00:47:50,140 | spending any money on trading view charting or real time data until that |
| 577 | 00:47:50,260 --> 00:47:55,780 | that month, so the third Friday of November, and then he'll have the |
| 578 | 00:47:55,780 --> 00:47:59,560 | ability to see things real time too. But he has at that time, he has several |
| 579 | 00:47:59,560 --> 00:48:05,160 | months of learning how to anticipate these things that he watched me do like |
| 580 | 00:48:05,160 --> 00:48:08,760 | you did yesterday, but he's been watching me do that for a while, and my |
| 581 | 00:48:08,760 --> 00:48:13,500 | students have been watching me do that for years. It doesn't it doesn't change, |
| 582 | 00:48:13,500 --> 00:48:19,140 | doesn't morph. So let's go into the business. All right. So if you go over |
| 583 | 00:48:19,140 --> 00:48:26,300 | here and you look at my 15 minute chart, I know there's a really long monolog, |
| 584 | 00:48:26,300 --> 00:48:32,420 | but you have no idea how many questions I get and how those types of segments of |
| 585 | 00:48:32,420 --> 00:48:37,220 | my delivery removes a lot of headache, because people get mad at me like I'm |
| 586 | 00:48:37,220 --> 00:48:41,140 | ignoring them, and there are questions and it just it's not about you, Bro, |
| 587 | 00:48:41,200 --> 00:48:45,820 | okay, you're not the only person I'm talking to. And the 15 minute time |
| 588 | 00:48:45,820 --> 00:48:52,120 | frame, what you're doing is you're looking at time first. And let me first |
| 589 | 00:48:52,180 --> 00:48:56,140 | cancel out the confusion I'll probably cause some of you. So here's, here's |
| 590 | 00:48:56,140 --> 00:49:02,160 | seven o'clock in the morning today. All right, you want to put a vertical line |
| 591 | 00:49:02,160 --> 00:49:06,600 | on that. It doesn't need to be a very bold color and like that. You want to |
| 592 | 00:49:06,600 --> 00:49:13,020 | just be able to annotate seven o'clock. Okay, the things I mentioned yesterday |
| 593 | 00:49:13,080 --> 00:49:16,320 | where I said you want to start at seven o'clock in the morning, that's true. |
| 594 | 00:49:17,160 --> 00:49:19,980 | Caleb, you don't want to look at anything prior to seven o'clock |
| 595 | 00:49:21,420 --> 00:49:26,720 | because you are not versed in anything with the London session. I'm not |
| 596 | 00:49:26,720 --> 00:49:32,720 | expanding your your your focus and time beyond the scope of seven o'clock in the |
| 597 | 00:49:32,720 --> 00:49:37,040 | morning New York local time. That's your that's your punch in time. Okay, that's |
| 598 | 00:49:37,040 --> 00:49:41,920 | the earliest you can refer to in price. If we look at now, pay attention to |
| 599 | 00:49:41,920 --> 00:49:44,920 | this. Okay, because this is going to answer the confusion I called yesterday |
| 600 | 00:49:45,820 --> 00:49:50,680 | without really wanting to at seven o'clock in the morning. That begins your |
| 601 | 00:49:50,680 --> 00:49:56,920 | hunt for relative equal highs or relative equal lows. What I meant to |
| 602 | 00:49:56,920 --> 00:50:00,480 | say, but I wasn't very successful or articulate in the way I said it. Okay, |
| 603 | 00:50:00,480 --> 00:50:03,780 | is when I was referring to the London session. You do not this is the part |
| 604 | 00:50:03,780 --> 00:50:07,500 | where I say, this is really important. This is key takeaway information. Do not |
| 605 | 00:50:07,500 --> 00:50:13,380 | look for your relative equal highs or lows prior to seven o'clock Caleb. That |
| 606 | 00:50:13,380 --> 00:50:16,620 | does not mean students that have learned models from me in private mentorship |
| 607 | 00:50:16,620 --> 00:50:19,980 | that they shouldn't be doing an observation on these relative equal |
| 608 | 00:50:19,980 --> 00:50:24,560 | highs. Because if you're looking at prior to anything at seven o'clock in |
| 609 | 00:50:24,560 --> 00:50:27,800 | the morning, what you're really doing is, is you're referring to London |
| 610 | 00:50:27,800 --> 00:50:32,540 | sessions, price data and its profile, not market profile, where it has the |
| 611 | 00:50:32,540 --> 00:50:37,880 | volume, you know, horizontally, okay, like it's something special that that's |
| 612 | 00:50:37,880 --> 00:50:41,260 | not what I'm talking about. Market profile is, is it making the higher low |
| 613 | 00:50:41,260 --> 00:50:48,100 | of the day in London? Is it setting up a consolidation to expansion trend day, or |
| 614 | 00:50:48,100 --> 00:50:52,900 | is it going to be just a trending day? Is it seek and destroy? You know, all |
| 615 | 00:50:52,900 --> 00:50:56,020 | those profiles I taught, they're all my mentorship videos on this YouTube |
| 616 | 00:50:56,020 --> 00:50:58,900 | channel for free. You don't need to pay for them. You don't need to go to |
| 617 | 00:50:58,900 --> 00:51:01,740 | somebody else's five minute trainers. And I promise you, they don't know how |
| 618 | 00:51:01,740 --> 00:51:08,700 | to use them either this reference point at seven o'clock. If you know how to |
| 619 | 00:51:08,700 --> 00:51:12,480 | trade other price action models or ideas that I taught, and you've been with me |
| 620 | 00:51:12,480 --> 00:51:17,280 | as a student for a while, and you do trade London setups as a continuation or |
| 621 | 00:51:17,280 --> 00:51:21,320 | a potential reversal for a London, I'm sorry, a New York session market |
| 622 | 00:51:21,320 --> 00:51:25,880 | reversal profile, where, what that means is London session between two o'clock |
| 623 | 00:51:25,880 --> 00:51:29,720 | and five o'clock in the morning, Eastern Time. That's New York local time always, |
| 624 | 00:51:30,260 --> 00:51:34,880 | if that, if that session time has seen the market drop like we see here. Okay, |
| 625 | 00:51:34,880 --> 00:51:38,720 | if there, if there's going to be a New York session market reversal profile, |
| 626 | 00:51:39,080 --> 00:51:43,660 | that means that they're most likely going to see price trade back above and |
| 627 | 00:51:43,660 --> 00:51:47,740 | overlap all the movement that was started at two o'clock in the morning |
| 628 | 00:51:48,280 --> 00:51:53,980 | here. Well, if you're, if you're a brand new student of mine, or if you've been |
| 629 | 00:51:53,980 --> 00:51:57,280 | familiar with some of my videos, but you just feel confused, and you've never |
| 630 | 00:51:57,280 --> 00:52:01,380 | been able to find a footing on how to start, where to begin. This is what I'm |
| 631 | 00:52:01,560 --> 00:52:06,180 | I'm teaching that to my son, Kayla, because he's in that same boat. He has |
| 632 | 00:52:06,180 --> 00:52:12,000 | familiarity, you know, he he's had top step account, he's done all that stuff, |
| 633 | 00:52:12,300 --> 00:52:16,980 | but he hasn't seen consistency, and he doesn't really know what he's doing to |
| 634 | 00:52:17,220 --> 00:52:21,260 | to this. This is what I'm going to do, that I'm only going to do this. So what |
| 635 | 00:52:21,260 --> 00:52:25,400 | I'm trying to do is I'm stripping it down to the Chrome and saying, This is |
| 636 | 00:52:25,400 --> 00:52:31,340 | what you focus on. You start here. And then when he shows me by his progress |
| 637 | 00:52:31,520 --> 00:52:36,920 | that he understands what I've given at this point here today, then I will |
| 638 | 00:52:36,920 --> 00:52:42,880 | expand his circle of focus and his intentions on other factors of time. But |
| 639 | 00:52:42,940 --> 00:52:49,000 | you don't need anything, honestly, you don't need anything extra outside of |
| 640 | 00:52:49,000 --> 00:52:55,420 | today's stuff, what I'm going to teach today. So in clarity, if you are a |
| 641 | 00:52:55,420 --> 00:52:59,680 | trader that understands day of the week and time of day in London, session |
| 642 | 00:52:59,680 --> 00:53:04,140 | trading and how it can communicate a potential continuation or reversal in |
| 643 | 00:53:04,200 --> 00:53:08,820 | the New York session. You should have been fine with yesterday's commentary, |
| 644 | 00:53:08,880 --> 00:53:13,800 | but for the folks that don't understand how to trade the london session and how |
| 645 | 00:53:13,800 --> 00:53:17,940 | to integrate that with the New York session, and how it works together to |
| 646 | 00:53:17,940 --> 00:53:21,380 | make the daily range, that could have caused you a great deal of confusion. |
| 647 | 00:53:21,380 --> 00:53:25,520 | And I did. I saw a lot of folks in the comment section saying, you kind of like |
| 648 | 00:53:26,960 --> 00:53:31,760 | you made two two statements that are opposed to one another. At one point, |
| 649 | 00:53:31,760 --> 00:53:36,680 | you say, look for relative equal highs and lows prior to seven o'clock in the |
| 650 | 00:53:36,680 --> 00:53:41,020 | morning. And what I'm what I'm talking about is for anyone that wants to look |
| 651 | 00:53:41,020 --> 00:53:44,560 | at the London session, and you understand daily range, and you |
| 652 | 00:53:44,560 --> 00:53:47,380 | understand all the other things I've taught. And you're more of an advanced |
| 653 | 00:53:47,380 --> 00:53:52,300 | trader using my concepts, you can look for setups prior to seven o'clock in the |
| 654 | 00:53:52,300 --> 00:53:56,980 | morning, but if you're brand new, don't even worry about that right now. You |
| 655 | 00:53:56,980 --> 00:54:02,280 | trust me, you don't need anything else prior to seven o'clock in the morning at |
| 656 | 00:54:02,280 --> 00:54:10,020 | all. So for clarity sake and simplicity and to remove all the complications that |
| 657 | 00:54:10,020 --> 00:54:13,680 | you probably thought that was being thrown in there at seven o'clock in the |
| 658 | 00:54:13,680 --> 00:54:16,680 | morning, what you're doing is you're that's your that's your beginning of the |
| 659 | 00:54:16,680 --> 00:54:21,380 | day. You're now starting to look for relative equal highs and lows, and you |
| 660 | 00:54:21,380 --> 00:54:27,440 | start on what time frame first the 15 minute time frame. Okay, so this starts |
| 661 | 00:54:27,440 --> 00:54:31,580 | the hunt for at seven o'clock. Did we create a relative equal high yet? No, we |
| 662 | 00:54:31,580 --> 00:54:36,860 | just have one singular high. Do we have relative equal lows? Don't look at this |
| 663 | 00:54:36,860 --> 00:54:40,040 | because it's before seven o'clock the morning. Don't do that. Don't even refer |
| 664 | 00:54:40,040 --> 00:54:44,680 | to it. The rules are very simple. You're waiting to see relative equal highs and |
| 665 | 00:54:44,680 --> 00:54:56,080 | relative equal lows form after post 7am New York local time. Now these two lows |
| 666 | 00:54:56,080 --> 00:55:04,080 | may be a factor for the five minute chart. I'm. So we're going to go to the |
| 667 | 00:55:04,080 --> 00:55:05,760 | five minute chart. You're going to expand |
| 668 | 00:55:11,580 --> 00:55:18,480 | that all right. So now we do potentially have, if this starts to rally, we don't |
| 669 | 00:55:18,480 --> 00:55:23,660 | have it yet, this could potentially become relative equal lows. Now with |
| 670 | 00:55:23,660 --> 00:55:27,620 | that, all you're dealing is you're making a mental note of it. You're not |
| 671 | 00:55:27,620 --> 00:55:33,800 | annotating your chart because it's not there. You never, never, never lead your |
| 672 | 00:55:33,800 --> 00:55:38,900 | expectations with something that has not actually formed in the chart. Don't |
| 673 | 00:55:38,900 --> 00:55:44,380 | predict the setup. You have to wait for the setup. You have to wait for these |
| 674 | 00:55:44,380 --> 00:55:48,700 | signatures to form in price. You cannot anticipate them. You don't know what |
| 675 | 00:55:48,700 --> 00:55:51,820 | you're doing yet. I can do those types of things. You've watched me do that |
| 676 | 00:55:51,820 --> 00:55:56,500 | with calling inversion fair value gaps before they actually formed. And people |
| 677 | 00:55:56,500 --> 00:56:01,800 | insisted that it was after the fact annotations. It's it's not. So the point |
| 678 | 00:56:01,800 --> 00:56:06,600 | is, is that experience will be given to you by exposure and repetition. That's |
| 679 | 00:56:06,600 --> 00:56:10,620 | the only way you glean the experience. You have to do these things, and they |
| 680 | 00:56:10,620 --> 00:56:14,160 | are monotonous. They're boring. They feel like they're fruitless. In the |
| 681 | 00:56:14,160 --> 00:56:17,880 | beginning, it feels like what am I even doing this for? And that's why I'm |
| 682 | 00:56:17,880 --> 00:56:21,380 | talking to you this way, because you're going to want to not do this. You might |
| 683 | 00:56:21,440 --> 00:56:25,820 | you might do it tonight, today or tomorrow, maybe the rest of this week, |
| 684 | 00:56:26,300 --> 00:56:29,420 | but something's going to happen next week. You're going to want to do |
| 685 | 00:56:29,420 --> 00:56:32,960 | something differently, because it's not making you money. You're not pushing a |
| 686 | 00:56:32,960 --> 00:56:36,800 | demo trade, and you're going to mess up. You're not going to learn, you're not |
| 687 | 00:56:36,800 --> 00:56:40,360 | going to progress, you're not going to understand yourself and what you're |
| 688 | 00:56:40,540 --> 00:56:44,380 | expecting to see in price action because you're not doing enough of it. Just like |
| 689 | 00:56:44,380 --> 00:56:47,320 | working out, everybody can join the gym, but you're not going to stick to the |
| 690 | 00:56:47,320 --> 00:56:50,920 | process of eating well and exercising and sticking to that sticking to that |
| 691 | 00:56:50,920 --> 00:56:54,880 | regimen and that routine to see the results finally come that you're going |
| 692 | 00:56:54,880 --> 00:57:01,080 | to have to wait for those results are a deferred result. Everybody wants to join |
| 693 | 00:57:01,080 --> 00:57:04,920 | a gym and lose 10 pounds in the first two days and feel like I've been I made |
| 694 | 00:57:04,920 --> 00:57:09,300 | the right decision, but you have to submit yourself to the process that |
| 695 | 00:57:09,660 --> 00:57:13,200 | these results that you're wanting, you're going to have to wait for them, |
| 696 | 00:57:13,200 --> 00:57:17,160 | but you're still going to have to do a lot of work every single day, working |
| 697 | 00:57:17,160 --> 00:57:21,020 | towards those results that will come later On. That's the problem with |
| 698 | 00:57:21,020 --> 00:57:25,160 | millennial mindset and trading all of you Millennials out there that are |
| 699 | 00:57:25,160 --> 00:57:33,500 | trying to be substantial or significant in this community, you're rushing to try |
| 700 | 00:57:33,500 --> 00:57:38,840 | to be significant with no talent, no skill or understanding and no prowess. |
| 701 | 00:57:39,740 --> 00:57:43,720 | And if you do what I'm teaching you today, you'll get that for real and |
| 702 | 00:57:43,720 --> 00:57:48,040 | honestly, and in that skill set, no one can take it away from you. I won't be |
| 703 | 00:57:48,040 --> 00:57:50,980 | able to talk down to you. No one else will be able to talk down to you, |
| 704 | 00:57:50,980 --> 00:57:54,520 | because you'll be able to carry yourself with a with a skill set that no one can |
| 705 | 00:57:54,520 --> 00:57:58,900 | strip away or diminish and that's what everybody should aspire to have. But I'm |
| 706 | 00:57:58,900 --> 00:58:01,920 | promising you're not going to get it quick, five minute trainer videos. Five |
| 707 | 00:58:01,920 --> 00:58:05,580 | Minute mentorship, guys, they're not going to get you there. Okay, this is |
| 708 | 00:58:05,580 --> 00:58:10,980 | the way you get there. It's blood, sweat and tears. It's doing these very boring |
| 709 | 00:58:10,980 --> 00:58:16,320 | observations. So post seven o'clock, you're scanning through looking for |
| 710 | 00:58:16,320 --> 00:58:20,480 | relative equal highs and relative equal lows. We can't refer that low because |
| 711 | 00:58:20,480 --> 00:58:24,440 | it's before seven o'clock in the morning. So we go down to a one minute |
| 712 | 00:58:24,440 --> 00:58:30,560 | chart. I'm just going to toggle through on on the chart itself. And here is the |
| 713 | 00:58:30,560 --> 00:58:39,200 | seven o'clock delineation, and you're looking for relative equal highs. Now |
| 714 | 00:58:39,200 --> 00:58:44,140 | these have already happened, okay? So that's something that you could have |
| 715 | 00:58:44,140 --> 00:58:47,140 | observed at the time, at seven o'clock. We weren't here, obviously, at seven |
| 716 | 00:58:47,140 --> 00:58:52,480 | o'clock, but it ran through there. So what did this do? Okay, think about what |
| 717 | 00:58:52,480 --> 00:58:58,600 | I was talking about yesterday. There's two different characteristics in price |
| 718 | 00:58:58,600 --> 00:59:06,000 | delivery that is a very, very simple perception of what price has done. It |
| 719 | 00:59:06,000 --> 00:59:12,720 | took an area that's smooth and made it jagged. So what happened here? This was |
| 720 | 00:59:12,720 --> 00:59:18,540 | an engagement for liquidity. So what did it do? It took buy side. After it took |
| 721 | 00:59:18,540 --> 00:59:25,340 | that buy side, where did it go? Directionally lower. So if it's done |
| 722 | 00:59:25,340 --> 00:59:29,780 | this type of work, then you have to go back through this price like from here |
| 723 | 00:59:30,080 --> 00:59:37,280 | down to there, see that? So what you're going to wait for is something after |
| 724 | 00:59:37,280 --> 00:59:42,580 | seven o'clock in the morning to create relative equal lows. It could rally up, |
| 725 | 00:59:43,180 --> 00:59:47,920 | and then these relative equal lows could be the setup for a run lower. And if it |
| 726 | 00:59:47,920 --> 00:59:50,860 | goes below these relative equal lows, and I'm not saying it's there yet, |
| 727 | 00:59:50,860 --> 00:59:54,580 | because we're not, I'm not trying to push that on you today, but these are |
| 728 | 00:59:54,580 --> 00:59:59,800 | the things you're doing as you're watching the chart you're observing. And |
| 729 | 00:59:59,800 --> 01:00:03,240 | we're. Referring. So if these become relative equal lows, and it rallies |
| 730 | 01:00:03,240 --> 01:00:07,680 | higher than this high here, these become relative equal lows, and if it wants to |
| 731 | 01:00:07,680 --> 01:00:15,240 | go below that, how far can it go? Refer over there? That's not the same thing as |
| 732 | 01:00:15,420 --> 01:00:19,080 | looking at relative equal lows before seven o'clock. You're just looking for |
| 733 | 01:00:19,080 --> 01:00:23,000 | liquidity, for the sake of this simple liquidity, and you're referring to how |
| 734 | 01:00:23,000 --> 01:00:26,660 | far can it go beyond relative equal highs or relative equal lows. You gotta |
| 735 | 01:00:26,660 --> 01:00:30,980 | look at market structure outside this parameter. But initially, all you're |
| 736 | 01:00:30,980 --> 01:00:38,540 | looking for is to get a draw or a short term bias on to on a time frame, whether |
| 737 | 01:00:38,540 --> 01:00:43,240 | it be 15, five or, in this case, one minute chart, where it affords you |
| 738 | 01:00:43,300 --> 01:00:50,560 | movement. You're watching to see how it attacks or tracks to a relative equal |
| 739 | 01:00:50,560 --> 01:00:56,020 | low or relative equal high. We already see that. They've done some work up |
| 740 | 01:00:56,020 --> 01:01:00,300 | here. There was a shark frenzy. Okay? There's blood in the water up here. We |
| 741 | 01:01:00,300 --> 01:01:04,320 | don't want to trade up into that. We don't want to we don't want to trade |
| 742 | 01:01:04,320 --> 01:01:09,840 | into this because they've already done a lot of things in here. So what we're |
| 743 | 01:01:09,840 --> 01:01:16,020 | doing is we want to see it, try to make an attempt to run out some kind of a |
| 744 | 01:01:16,200 --> 01:01:21,740 | relative equal level. That's what you start with. It doesn't mean you're |
| 745 | 01:01:21,740 --> 01:01:24,620 | right. It doesn't mean it's going to pan out. It's just that's what you start |
| 746 | 01:01:24,620 --> 01:01:28,160 | with. That's the process. So you work from the 15 minute time frame. Look for |
| 747 | 01:01:28,160 --> 01:01:31,640 | relative equal highs, relative equal lows after seven o'clock in the morning, |
| 748 | 01:01:32,180 --> 01:01:35,900 | even if you see them obviously right before seven o'clock or during the |
| 749 | 01:01:35,900 --> 01:01:40,840 | London session, ignore them. All you're trying to do is learn how to encapsulate |
| 750 | 01:01:40,840 --> 01:01:47,800 | price action. If this price all say all this price action here was over the |
| 751 | 01:01:47,800 --> 01:01:53,080 | course of, I don't know, 15 minute time frames or 30 minute time frames. And |
| 752 | 01:01:53,140 --> 01:01:57,160 | this was the close at four o'clock in the afternoon New York time. What that |
| 753 | 01:01:57,160 --> 01:02:01,020 | would indicate is that this was the daily range. It created the Judah swing |
| 754 | 01:02:01,020 --> 01:02:05,460 | here, it dropped down and it came off the low to close near the low today, |
| 755 | 01:02:07,800 --> 01:02:12,600 | that's power three. You're going to discover that every single time you sit |
| 756 | 01:02:12,600 --> 01:02:16,560 | down and you look at the am session, you're essentially looking for that to |
| 757 | 01:02:16,560 --> 01:02:22,940 | form. You're looking for some fake manipulation that creates all this |
| 758 | 01:02:22,940 --> 01:02:27,500 | animation, and it does the harmful work of hurting people and putting them out |
| 759 | 01:02:27,500 --> 01:02:30,260 | of a trade that would have been profitable, or putting them in a |
| 760 | 01:02:30,260 --> 01:02:35,300 | direction that's not right. And now they're trapped long in this case, and |
| 761 | 01:02:35,300 --> 01:02:41,020 | then they rake them across the coals and drop it lower, so you're looking for |
| 762 | 01:02:41,080 --> 01:02:45,400 | where the retail or Street Money, Street Money trader is going to be, or less |
| 763 | 01:02:45,400 --> 01:02:48,880 | informed trader they're going to be looking for support and resistance. I'm |
| 764 | 01:02:48,880 --> 01:02:52,480 | not a support and resistance trader. I don't teach my students to trade support |
| 765 | 01:02:52,480 --> 01:02:56,860 | and resistance. We look for liquidity and inefficiencies. And when you go |
| 766 | 01:02:56,860 --> 01:03:00,780 | through the process of looking for all of the relative equal highs and relative |
| 767 | 01:03:00,780 --> 01:03:04,620 | equal lows on the 15 minute the five minute and one minute chart, once you |
| 768 | 01:03:04,620 --> 01:03:08,160 | have either panned through and either identified what's available on any one |
| 769 | 01:03:08,220 --> 01:03:13,740 | of those time frames, or if there is none that's obvious, then what you do is |
| 770 | 01:03:13,740 --> 01:03:16,560 | you go through your charts and you annotate all of the inefficiencies, and |
| 771 | 01:03:16,560 --> 01:03:19,740 | we're going to work our way back up. So right now, we're on the one minute |
| 772 | 01:03:19,740 --> 01:03:27,080 | chart. So this would be like this. You see this. There is no volume imbalance |
| 773 | 01:03:27,080 --> 01:03:31,040 | in here. So you're going to start right the candles low, drop it down to the |
| 774 | 01:03:31,040 --> 01:03:34,640 | very next candle after the big, long down close candle. What kind of |
| 775 | 01:03:34,640 --> 01:03:38,660 | candlestick? Fair value gap is this? It has a down close. What did I teach you |
| 776 | 01:03:38,660 --> 01:03:42,640 | yesterday? A down close fair value gap is a city |
| 777 | 01:03:54,280 --> 01:04:00,240 | stands for sell side imbalance, buy side inefficiency. That means it offered |
| 778 | 01:04:00,240 --> 01:04:06,180 | delivery on the downside, it's inefficient in any movement back up |
| 779 | 01:04:06,180 --> 01:04:10,620 | inside that same range that creates this one single pass through until you get |
| 780 | 01:04:10,620 --> 01:04:13,680 | into this area here. So that's the furthest we weren't back up into this |
| 781 | 01:04:13,680 --> 01:04:19,320 | range, right there. So it's inefficient by characteristic and definition. |
| 782 | 01:04:19,620 --> 01:04:23,180 | Anything above this high up to this candle sticks low, right there that |
| 783 | 01:04:23,180 --> 01:04:28,400 | candlesticks low. All of that is inefficient and is inviting the |
| 784 | 01:04:28,400 --> 01:04:31,880 | opportunity for price to want to trade up into. It doesn't mean it's going to |
| 785 | 01:04:31,880 --> 01:04:34,760 | happen right now, doesn't it's going to happen this session, but that's the |
| 786 | 01:04:34,760 --> 01:04:40,300 | characteristic. Then you have this one in here. We've already worked this one |
| 787 | 01:04:40,300 --> 01:04:44,440 | there. So there's a small little section between that candles low and that |
| 788 | 01:04:44,440 --> 01:04:50,980 | candles high. Maybe you didn't see it. Maybe you did. If you didn't, don't beat |
| 789 | 01:04:50,980 --> 01:04:56,200 | yourself up about it. I've been doing it for a long time, but your aisle jumped |
| 790 | 01:04:56,200 --> 01:04:59,740 | to these little gaps and these small little inefficiencies, where they where |
| 791 | 01:04:59,740 --> 01:05:03,180 | they. Seem insignificant to you right now, like, really? Why would you even |
| 792 | 01:05:03,240 --> 01:05:08,160 | highlight that? That's like nothing, meaning that from this candle is high |
| 793 | 01:05:08,160 --> 01:05:12,600 | and that candles low, essentially, this is what's remaining in that, that |
| 794 | 01:05:12,600 --> 01:05:15,660 | little, small section. And I'm telling you, I've entered trades and recorded |
| 795 | 01:05:15,660 --> 01:05:19,800 | myself doing it with real money and shared it with you where I've used |
| 796 | 01:05:19,800 --> 01:05:23,420 | levels just like that, and place limit orders just below it to get filled, and |
| 797 | 01:05:23,420 --> 01:05:26,900 | it never has any significant drawdown, and just runs and takes off. Goes to my |
| 798 | 01:05:26,900 --> 01:05:30,920 | limit order for target. If you're a student of mine, you're in private |
| 799 | 01:05:30,920 --> 01:05:34,820 | mentorship, you've seen some of those things lots of times, actually. And then |
| 800 | 01:05:34,880 --> 01:05:40,780 | over here, this inefficiency, let me fix this, because I always want to refer to |
| 801 | 01:05:40,780 --> 01:05:46,360 | refer to the original fair value gap, but noting what level of inefficiency |
| 802 | 01:05:46,360 --> 01:05:49,900 | still available. That means a small little section between this candle is |
| 803 | 01:05:49,900 --> 01:05:56,020 | high and that candle is low, right there. So I always keep the original |
| 804 | 01:05:56,020 --> 01:06:01,200 | fair value gaps the levels, because they're key. They can be used again. |
| 805 | 01:06:01,260 --> 01:06:05,580 | They're influential. It's not so much that I'm only looking for the remaining |
| 806 | 01:06:05,580 --> 01:06:09,900 | unfilled portion. I am aware of seeing that because I'm I can see the |
| 807 | 01:06:09,900 --> 01:06:13,200 | difference between the high at the fair value gap and this high of that candle. |
| 808 | 01:06:13,500 --> 01:06:19,860 | So I'm not trying to make any special, distinct, distinguishing note of it. But |
| 809 | 01:06:19,860 --> 01:06:23,240 | in my mind subconscious. I know that, that if I'm going to go back to that it |
| 810 | 01:06:23,240 --> 01:06:27,620 | may go back here, just to tap the high of it, and then it'll be it, or if it |
| 811 | 01:06:27,620 --> 01:06:33,080 | goes above, it comes back down. Then I could use this candles wick and halfway |
| 812 | 01:06:33,080 --> 01:06:36,260 | point of it, that's how far I can retrace back down into it. And it |
| 813 | 01:06:36,320 --> 01:06:41,500 | becomes an inversion, fair value gap when I have a candlestick like this. |
| 814 | 01:06:41,740 --> 01:06:46,780 | Okay, when you're annotating your inefficiencies, we have this one here. |
| 815 | 01:06:47,260 --> 01:06:56,980 | There's no volume imbalance up in this segment to here. Is that accurate? Look |
| 816 | 01:06:56,980 --> 01:07:07,980 | closely. All uh, what's wrong? The low of it needs to incorporate that volume |
| 817 | 01:07:07,980 --> 01:07:10,980 | imbalance right there. The volume imbalance is as if the separation |
| 818 | 01:07:10,980 --> 01:07:16,860 | between one candlesticks body and the very next subsequent candlestick, if the |
| 819 | 01:07:16,860 --> 01:07:21,920 | bodies don't overlap, or at least touch, there's a volume imbalance there. I'm, |
| 820 | 01:07:21,980 --> 01:07:25,880 | I'm quite certain you're not going to see any information about that unless |
| 821 | 01:07:25,880 --> 01:07:29,900 | someone else wrote a book about my concepts. And this is, this is new |
| 822 | 01:07:29,900 --> 01:07:34,160 | stuff, okay, I introduced it to the community, and it is very, very |
| 823 | 01:07:34,160 --> 01:07:37,580 | influential in terms of reading, price action, in terms of precision elements, |
| 824 | 01:07:38,000 --> 01:07:44,260 | you have to incorporate that. That is your your fair value gap. Why? Because |
| 825 | 01:07:44,260 --> 01:07:49,840 | the wicks are not the true narrative. That's where the damage can be done. |
| 826 | 01:07:50,080 --> 01:07:54,760 | It's like your child that colors with a crayon in a coloring book. They color |
| 827 | 01:07:54,760 --> 01:07:59,500 | sometimes outside the lines. You know that they messed that up, but you're not |
| 828 | 01:07:59,500 --> 01:08:03,600 | going to sit down say, Look here. Look here, Billy. I don't know how many times |
| 829 | 01:08:03,600 --> 01:08:06,720 | I gotta give you this lesson, but you will not be eating dinner tonight |
| 830 | 01:08:06,900 --> 01:08:11,760 | because you colored outside that picture again, sure, sure, sure. You'll do a |
| 831 | 01:08:11,760 --> 01:08:15,660 | better job next time. But right now, it's no dinner. You're not going to |
| 832 | 01:08:15,660 --> 01:08:23,120 | treat your son like that. If you do, you need to get stomped. But if you see your |
| 833 | 01:08:23,120 --> 01:08:28,100 | child do that and it colors outside the line, what do you do? Oh, he colored a |
| 834 | 01:08:28,100 --> 01:08:31,760 | picture for dad or mom, and you put it on your refrigerator, or you take it to |
| 835 | 01:08:31,760 --> 01:08:35,900 | work, and you're hanging in your cubicle because you're proud of them, right? |
| 836 | 01:08:36,560 --> 01:08:39,920 | Because you know that that's just an aberration. It's just something that |
| 837 | 01:08:39,920 --> 01:08:46,300 | just happened, and it's not a big deal. Well, that's how I look at Wix. Yes, the |
| 838 | 01:08:46,300 --> 01:08:50,320 | algorithm repriced up into there a little bit. That's fine. Where's the |
| 839 | 01:08:50,320 --> 01:08:58,480 | body, right there. So volume imbalances here. This is the stuff you're supposed |
| 840 | 01:08:58,480 --> 01:09:01,860 | to be writing down, folks. If you're just listening potato chips, you're |
| 841 | 01:09:01,860 --> 01:09:07,680 | completely oblivious to what's being introduced to you. The volume imbalance |
| 842 | 01:09:08,280 --> 01:09:13,380 | tells you to ignore any of the wick. This wick will not be all that |
| 843 | 01:09:13,380 --> 01:09:17,760 | influential, whereas, if you were without a volume imbalance in here, let |
| 844 | 01:09:17,760 --> 01:09:20,660 | me zoom in, because I really want you to see what I'm talking about, because I'm |
| 845 | 01:09:20,660 --> 01:09:23,600 | not sure if you can see it. Well, some of you guys are trying to learn this on |
| 846 | 01:09:23,600 --> 01:09:29,300 | your smartphone, and I've got students in prison that are studying, and they're |
| 847 | 01:09:29,300 --> 01:09:34,880 | like, Man, I wish you could zoom in this, brother. Just read my mind. How |
| 848 | 01:09:34,880 --> 01:09:39,380 | you like that. So that's the volume of balance, right there. Okay, so if you |
| 849 | 01:09:39,380 --> 01:09:43,780 | have a fair value gap or an imbalance, and it has a volume imbalance in it. Any |
| 850 | 01:09:43,780 --> 01:09:47,560 | wick inside the fair value gap just completely nullify any intention on |
| 851 | 01:09:47,560 --> 01:09:53,740 | that. Now find that in your textbooks, find that in your rip off ICT |
| 852 | 01:09:53,740 --> 01:09:56,440 | mentorship, five minute training guys, they're not going to tell you that |
| 853 | 01:09:56,440 --> 01:10:01,380 | insight, because they didn't make it so the. Diamond bounce right there that |
| 854 | 01:10:01,380 --> 01:10:06,420 | tells you, if you have that in any wick in there, just completely disregard it. |
| 855 | 01:10:08,160 --> 01:10:12,180 | Only if it's a wick that's that's below the consequent encroachment, which is |
| 856 | 01:10:12,180 --> 01:10:17,100 | the halfway point here. So any week wick that reaches up to that level or less, |
| 857 | 01:10:17,280 --> 01:10:21,260 | ignore any of those wicks. You have to take it to the body of the candle. Okay, |
| 858 | 01:10:21,260 --> 01:10:27,920 | so that gives you the true, real fair value gap, or, in this case, a city sell |
| 859 | 01:10:27,920 --> 01:10:32,600 | side imbalance, by signing efficiency. All right, so that's the business there, |
| 860 | 01:10:32,600 --> 01:10:36,860 | and extend it out in time, and the market goes right up to that high and |
| 861 | 01:10:36,860 --> 01:10:42,700 | then folds and creates what right here? What is this? That's that fair value gap |
| 862 | 01:10:42,700 --> 01:10:46,060 | between this low and this candle is high, and you see it trade right up into |
| 863 | 01:10:46,060 --> 01:10:50,440 | consequent encouragement plus a little bit more. Why? Why? Because the |
| 864 | 01:10:50,440 --> 01:10:55,720 | algorithm is affording anyone that uses this information, that uses this level |
| 865 | 01:10:55,780 --> 01:11:02,160 | as a entry point, they have to offer them the spread, right? Or they won't |
| 866 | 01:11:02,160 --> 01:11:05,100 | get their fill, and that's why you get this little bump right above right |
| 867 | 01:11:05,100 --> 01:11:09,600 | there. But you're going to be told that that's buying pressure. The buying |
| 868 | 01:11:09,600 --> 01:11:14,940 | pressure just happens to stop at levels of precision that fit inside the |
| 869 | 01:11:14,940 --> 01:11:18,900 | narrative that I've proven to you over and over and over again with live price |
| 870 | 01:11:18,900 --> 01:11:26,120 | action before it happens, folks, as we go through this, that onion, okay, that |
| 871 | 01:11:26,120 --> 01:11:31,820 | sits in the the skull of yours that you think is a brain. I'm gonna be peeling |
| 872 | 01:11:31,820 --> 01:11:35,300 | back those layers and getting rid of all that crusty shit, okay, when you get |
| 873 | 01:11:35,300 --> 01:11:38,480 | down to the Sweet kernel in the middle, and you're gonna find out that there |
| 874 | 01:11:38,480 --> 01:11:42,380 | really is an algorithm, and it really is absolutely 100% manipulated and |
| 875 | 01:11:42,380 --> 01:11:45,640 | controlled in and controlled and scripted, until they manually intervene, |
| 876 | 01:11:46,060 --> 01:11:50,860 | and then it seems like the markets are random. The markets are controlled by |
| 877 | 01:11:50,860 --> 01:11:56,260 | buying and selling pressure. Wrong, absolutely not. So you have all these |
| 878 | 01:11:56,260 --> 01:12:00,660 | levels here, and I'm gonna leave it up to you to have a color scheme that you |
| 879 | 01:12:00,660 --> 01:12:05,100 | like, okay, meaning that you're going to come up with the scheme fix that. |
| 880 | 01:12:05,100 --> 01:12:09,180 | Because people are always like, can you show us the colors that you use for your |
| 881 | 01:12:09,180 --> 01:12:11,940 | candlesticks? I get nervous when I see stuff like that, because I know |
| 882 | 01:12:11,940 --> 01:12:15,660 | invariably, what that means is there's somebody that wants it start putting |
| 883 | 01:12:15,660 --> 01:12:21,020 | their charts out like mine, and they want to put my videos and clips and |
| 884 | 01:12:21,020 --> 01:12:24,260 | whatever on their Instagram or their other social media, whatever, and |
| 885 | 01:12:24,260 --> 01:12:27,860 | pretend that they did these trades when I'm recording myself doing them, and |
| 886 | 01:12:27,860 --> 01:12:31,880 | then they can't show something after the fact or explain it in hindsight, because |
| 887 | 01:12:31,880 --> 01:12:35,360 | now they know that the move happened, they can't have their charts look like |
| 888 | 01:12:35,360 --> 01:12:40,180 | mine because they won't match the color. So it creates a problem for them, and |
| 889 | 01:12:40,180 --> 01:12:46,600 | they're fraud, so I don't sit down and try to show you the actual hue or color |
| 890 | 01:12:46,600 --> 01:12:54,340 | of here. In fact, this these charts may actually become a different color, and |
| 891 | 01:12:54,940 --> 01:12:58,840 | the background may change also, because it's starting to bottom my eyes, and |
| 892 | 01:12:58,900 --> 01:13:05,040 | even with the blue filters that have on, it's still, it's a little irritated, but |
| 893 | 01:13:05,100 --> 01:13:09,060 | you want to go through the charts and you want to highlight these things. And |
| 894 | 01:13:10,140 --> 01:13:19,320 | since we have done this work up here, where we had relative equal highs here |
| 895 | 01:13:19,740 --> 01:13:24,560 | and here, but did I teach you yesterday? How do you know it's a high probability |
| 896 | 01:13:24,560 --> 01:13:30,440 | relative equal high when the right side that is identified as a potential |
| 897 | 01:13:31,580 --> 01:13:36,680 | turning point for a quote, unquote potential relative equal, high, the |
| 898 | 01:13:36,680 --> 01:13:41,500 | right one is going to be slightly lower than the one on the left. |
| 899 | 01:13:43,180 --> 01:13:48,160 | We have that here. We don't even need to see this ahead of time. We just need to |
| 900 | 01:13:48,160 --> 01:13:52,840 | see, okay, it ran that. And you might, you might identify it after it does that |
| 901 | 01:13:52,840 --> 01:13:59,500 | run there, and then you start seeing it break down. See that at the turning |
| 902 | 01:13:59,500 --> 01:14:05,760 | points, or potential turning points like this. Okay, this is where, and I'm going |
| 903 | 01:14:05,760 --> 01:14:09,900 | to refer to this in my book with this lecture here, I've taught and introduced |
| 904 | 01:14:09,960 --> 01:14:15,360 | inversion fair value gaps on Twitter spaces last year. Okay, all of my PD |
| 905 | 01:14:15,360 --> 01:14:20,340 | arrays have an inversion aspect to every single one of them. Every single one of |
| 906 | 01:14:20,340 --> 01:14:26,960 | them can reverse their role, every single one of them, but it's not easy |
| 907 | 01:14:26,960 --> 01:14:30,260 | for you, and it's not easy for people that want to try to teach my stuff for |
| 908 | 01:14:30,260 --> 01:14:33,860 | money when you're actually getting it right from the source here for free. |
| 909 | 01:14:34,400 --> 01:14:38,420 | It's not easy for them to be able to teach that, because I've never went into |
| 910 | 01:14:38,420 --> 01:14:42,220 | great detail like I will in the books, so that way it kind of bridges the gap. |
| 911 | 01:14:42,220 --> 01:14:46,300 | And then you'll see everybody start teaching it then. But this is a note |
| 912 | 01:14:46,300 --> 01:14:51,160 | that's real important for you. Okay, inversion, fair value gaps, the highest |
| 913 | 01:14:51,160 --> 01:14:55,720 | form of precision, the ones that are really, really trustworthy, the ones |
| 914 | 01:14:55,720 --> 01:15:00,360 | that have the highest degree of working in your favor, depends. On your |
| 915 | 01:15:00,360 --> 01:15:04,320 | understanding of what I taught you yesterday, and I'm what I'm building on |
| 916 | 01:15:04,320 --> 01:15:10,260 | here, whereas we have an area that's smooth after seven o'clock, so the seven |
| 917 | 01:15:10,260 --> 01:15:15,420 | o'clock in the morning starts the am session. So now you start hunting on the |
| 918 | 01:15:16,080 --> 01:15:19,560 | 15 minute time frame, the five minute time frame and the one minute time |
| 919 | 01:15:19,560 --> 01:15:23,540 | frame, you're hunting relative equal highs and lows to form after seven |
| 920 | 01:15:23,540 --> 01:15:26,960 | o'clock. But we have that here. You may not have had the experience to |
| 921 | 01:15:26,960 --> 01:15:31,520 | anticipate this run up. That's fine. You don't need it. You don't need it. |
| 922 | 01:15:31,520 --> 01:15:36,860 | Remember when I first taught breakers, I thought that on baby pips back in 2011 I |
| 923 | 01:15:36,860 --> 01:15:48,700 | think it was 2011 if it wasn't, it wasn't 2012 the the idea of waiting for |
| 924 | 01:15:48,700 --> 01:15:54,940 | a stop run and then wait for the market to come back down in to the range prior |
| 925 | 01:15:55,000 --> 01:16:01,200 | to all that run up, and then wait for the bearish breaker. In this case, the |
| 926 | 01:16:01,200 --> 01:16:08,280 | bearish breaker is this candle, and this candle, the most sensitivity, is going |
| 927 | 01:16:08,280 --> 01:16:14,220 | to come inside of the most lowest down, closed candle prior to the run up, |
| 928 | 01:16:14,760 --> 01:16:18,960 | because you have a high, a low, and then you have the stock hunt, and then the |
| 929 | 01:16:18,960 --> 01:16:27,380 | reversal. Well, that's trading with a breaker inversion fair value gaps. If |
| 930 | 01:16:27,380 --> 01:16:32,300 | you have a gap inside of the range, that creates the bearish breaker, as we have |
| 931 | 01:16:32,300 --> 01:16:37,580 | here. Now remember what I tell you, a down close candle. That is a fair value |
| 932 | 01:16:37,580 --> 01:16:43,720 | gap. Is a city, a up close candle right here. This is the opposite which is a |
| 933 | 01:16:43,720 --> 01:16:50,740 | busy B, i, s, I buy side imbalance, sell side inefficiency. Now this is going to |
| 934 | 01:16:50,740 --> 01:16:55,360 | be a huge step in understanding narrative and understanding directional |
| 935 | 01:16:55,360 --> 01:17:02,820 | bias and also reversal patterns. This fair value gap here, if you don't |
| 936 | 01:17:02,820 --> 01:17:07,620 | understand you're looking for and you don't have the element of time Dave, and |
| 937 | 01:17:07,620 --> 01:17:13,740 | you trade back down into this fair value gap, you might be lulled into thinking, |
| 938 | 01:17:13,740 --> 01:17:16,680 | well, wow. You know, this is an opportunity for me to take on those ICT |
| 939 | 01:17:16,680 --> 01:17:23,960 | fair value gap buys. And go long, and then it's to your detriment that it |
| 940 | 01:17:23,960 --> 01:17:28,820 | reverses and collapses on you. Understanding that it's seven o'clock |
| 941 | 01:17:29,120 --> 01:17:34,820 | post seven o'clock, we have relative equal highs. It rallies after remember |
| 942 | 01:17:34,820 --> 01:17:38,480 | the new week opening gap I talked about yesterday. You're going to discover, |
| 943 | 01:17:38,900 --> 01:17:43,180 | Caleb, that your model is going to be gravitating towards those new week |
| 944 | 01:17:43,180 --> 01:17:47,260 | opening gaps. That's your model. You're going to be trading in that direction. |
| 945 | 01:17:47,500 --> 01:17:52,300 | But before we get to that, you have to be able to look at small, small, small |
| 946 | 01:17:52,360 --> 01:17:57,820 | fluctuations around segments of time that will have a repeating phenomena |
| 947 | 01:17:58,060 --> 01:18:05,880 | that they all look very similar to one another. It's a fractal, okay, but the |
| 948 | 01:18:05,880 --> 01:18:13,260 | fractal element is only repeating and verifiable on the time frames I'm |
| 949 | 01:18:13,440 --> 01:18:16,380 | teaching you to focus on right now. We're not going anything higher than the |
| 950 | 01:18:16,380 --> 01:18:20,160 | 15 minute time frame, but this buy sign and balance, sell sign and efficiency, |
| 951 | 01:18:20,520 --> 01:18:26,600 | that fair value gap is going to have a role reversal, where everyone else that |
| 952 | 01:18:26,600 --> 01:18:35,660 | thinks they understand it because they didn't introduce to it lightly. That is |
| 953 | 01:18:35,660 --> 01:18:44,020 | an inversion fair value gap. So the market creates this fair value gap after |
| 954 | 01:18:44,380 --> 01:18:50,680 | this run here. You don't want to use that as a buy. We're so elongated and |
| 955 | 01:18:50,680 --> 01:18:56,140 | stretched out from London, and it's past seven o'clock in the morning. So now |
| 956 | 01:18:56,140 --> 01:19:00,540 | we're in an am session. Am session characteristic is always first and |
| 957 | 01:19:00,540 --> 01:19:05,280 | foremost characteristic is re trade back into the London range. The London range |
| 958 | 01:19:05,280 --> 01:19:08,100 | is whatever the highest high and the lowest low was between two o'clock in |
| 959 | 01:19:08,100 --> 01:19:11,400 | the morning and five o'clock in the morning, Eastern Standard Time. Now I'm |
| 960 | 01:19:11,400 --> 01:19:16,200 | going to slow things down here, because already, I already know some of your |
| 961 | 01:19:16,200 --> 01:19:19,140 | your heads are spinning like, Dude, you said this is going to be easy. You're |
| 962 | 01:19:19,140 --> 01:19:24,740 | not complicated. But what I just said is not complicated. You have to look at |
| 963 | 01:19:24,740 --> 01:19:31,940 | these specific times of the day. So if we're anticipating a rally up because of |
| 964 | 01:19:31,940 --> 01:19:35,300 | these relative equal highs, and it's after seven o'clock in the morning, and |
| 965 | 01:19:35,300 --> 01:19:40,160 | it creates this type of reversal scenario where it breaks down, your eyes |
| 966 | 01:19:40,160 --> 01:19:45,880 | should go right to are we looking for relative equal highs or relative equal |
| 967 | 01:19:45,880 --> 01:19:52,480 | lows, or are we looking for inefficiencies? You have to go with what |
| 968 | 01:19:52,480 --> 01:19:57,280 | the charts giving you. You can only trade with the premise of relative equal |
| 969 | 01:19:57,280 --> 01:20:01,680 | lows or relative equal highs if it's in price action. If it's not there, you |
| 970 | 01:20:01,680 --> 01:20:05,880 | can't you can't refer to it. So if there's nothing else in price, because |
| 971 | 01:20:05,880 --> 01:20:10,260 | we want below these relative equal lows there, what's left now, at this price |
| 972 | 01:20:10,260 --> 01:20:13,260 | point, right here, if there were not anything else on the chart yet over |
| 973 | 01:20:13,260 --> 01:20:17,760 | here, this is the only chart candlestick at the time you're watching it, what |
| 974 | 01:20:17,760 --> 01:20:24,200 | does your eye go well, you'll naturally go to this, but my eye jumps to the stop |
| 975 | 01:20:24,200 --> 01:20:29,840 | hunt here, and the breaker, and from the breaker to the high where the stops were |
| 976 | 01:20:29,840 --> 01:20:35,300 | taken. Is there a fair value gap? If there is, I'm going to navigate away |
| 977 | 01:20:35,300 --> 01:20:40,040 | from the breaker, and I want to have that premium level right there. I want |
| 978 | 01:20:40,040 --> 01:20:44,620 | that. That's the one I want. Everybody else might be trading down here, and |
| 979 | 01:20:44,680 --> 01:20:48,640 | they might get a fill right there, and they won't be comfortable trading into |
| 980 | 01:20:48,640 --> 01:20:55,600 | this high here or right there. See where it's stopping. It's not random. The |
| 981 | 01:20:56,440 --> 01:21:02,220 | market breaks down that queue, working off of that inversion fair value gap, |
| 982 | 01:21:03,000 --> 01:21:09,780 | that drop, and it creates this gap right there. That right there is the sweet |
| 983 | 01:21:09,780 --> 01:21:14,220 | spot when you're bearish and you have everything behind you that's in play. |
| 984 | 01:21:15,300 --> 01:21:22,760 | It's your optimal trade entry. It's your model 2022 it's right there, and then |
| 985 | 01:21:22,760 --> 01:21:27,380 | this becomes a selling point. And now what do you have at this point? You have |
| 986 | 01:21:27,440 --> 01:21:34,460 | this low and this low. What time of day is that? Eight o'clock? So the price is |
| 987 | 01:21:34,460 --> 01:21:40,340 | rallying up against the underlying, expected, expected move, or directional |
| 988 | 01:21:40,340 --> 01:21:45,880 | bias, because this move here has caused a potential reversal, so now you have |
| 989 | 01:21:45,880 --> 01:21:51,520 | relative equal lows here. But how far can it go? You have to refer to the |
| 990 | 01:21:51,520 --> 01:21:56,260 | range prior to that reversal pattern that formed after relative equal hasn't |
| 991 | 01:21:56,260 --> 01:22:00,520 | been taken. So let me slow you down because you're getting a little |
| 992 | 01:22:00,520 --> 01:22:04,440 | panicked. I'm sure this is too much information on head spinning. ICT, all |
| 993 | 01:22:04,440 --> 01:22:09,420 | you're doing is you're looking for areas where they can stop people out and go |
| 994 | 01:22:09,420 --> 01:22:14,400 | the other direction. That's essentially all you're doing. And you're looking for |
| 995 | 01:22:14,400 --> 01:22:20,720 | little periods of price action where obvious highs can be targeted, obvious |
| 996 | 01:22:20,720 --> 01:22:25,820 | lows can be targeted for liquidity purposes and in between them. Or if |
| 997 | 01:22:25,820 --> 01:22:30,620 | there's nothing new to work off of, then you focus on all of the fair value gaps, |
| 998 | 01:22:30,620 --> 01:22:34,640 | the inefficiencies. That means things that we've been coloring here with the |
| 999 | 01:22:34,640 --> 01:22:42,220 | rectangles. Okay, your eye will jump to them with experience, you'll see them |
| 1000 | 01:22:42,220 --> 01:22:48,100 | more the more you do this, and because of that experience factor, you'll learn |
| 1001 | 01:22:48,100 --> 01:22:52,120 | to filter out some of them because they've already been used several times. |
| 1002 | 01:22:52,120 --> 01:22:56,020 | It doesn't mean that they won't be used again. It just means that the ones that |
| 1003 | 01:22:56,020 --> 01:23:03,060 | are unfilled or left in a state of imbalance, like this portion of this |
| 1004 | 01:23:03,060 --> 01:23:07,320 | gray box here, from this candle sticks high to that candle sticks low, there's |
| 1005 | 01:23:07,320 --> 01:23:10,260 | a little bit of inefficiency. And graphically, it looks like this. |
| 1006 | 01:23:10,800 --> 01:23:15,000 | That's the that's the remaining portion that's inefficient. That little segment |
| 1007 | 01:23:15,000 --> 01:23:19,080 | up there, it doesn't mean it need it can or needs that fill it right now. It just |
| 1008 | 01:23:19,080 --> 01:23:22,940 | that's the part that my eye goes to. But you still want to have the low, the |
| 1009 | 01:23:22,940 --> 01:23:26,480 | midpoint, with the consequent encroachment and the high. You want to |
| 1010 | 01:23:26,480 --> 01:23:31,640 | have those levels all the time, because they will refer to them. If the price is |
| 1011 | 01:23:31,640 --> 01:23:35,240 | trading anywhere around this range here, the rest of the day, watch and see how |
| 1012 | 01:23:35,240 --> 01:23:38,600 | it uses it. It will use it again. So if you want to talk about support and |
| 1013 | 01:23:38,600 --> 01:23:43,000 | resistance, these inefficiencies are the real support and resistance in price |
| 1014 | 01:23:43,000 --> 01:23:48,400 | action. You'll see them, kiss them, turn on a dime, go right to the level, stop, |
| 1015 | 01:23:48,400 --> 01:23:53,200 | turn around the bodies of them. Stop like it's it's so precise, it goes |
| 1016 | 01:23:53,200 --> 01:23:56,860 | without questions, laughable for anyone to say there isn't an algorithm these |
| 1017 | 01:23:56,860 --> 01:24:00,840 | price engines. What are they referring to? Think about it, what are they |
| 1018 | 01:24:00,840 --> 01:24:05,400 | referring to? They have, if it's an algorithm, it has to refer to something |
| 1019 | 01:24:05,400 --> 01:24:09,840 | it's happened in the past. So what I've done is I've created a language where |
| 1020 | 01:24:10,980 --> 01:24:14,700 | you're either going to be reaching for old highs for the Express purposes of |
| 1021 | 01:24:14,760 --> 01:24:19,440 | taking out or engaging that liquidity that we be resting above it in the form |
| 1022 | 01:24:19,440 --> 01:24:25,400 | of buy stops or going below a low, or equal lows for the Express purposes, |
| 1023 | 01:24:25,400 --> 01:24:30,800 | going down to engage the sell side of it, or sell stops outside of that. What |
| 1024 | 01:24:30,800 --> 01:24:36,440 | are we left with? Anything that's inefficient in terms of price action. So |
| 1025 | 01:24:36,440 --> 01:24:40,040 | if we have a inversion fair value gap here, after these relative equal highs |
| 1026 | 01:24:40,040 --> 01:24:45,220 | have been traded through, and it starts to break down. No panic. Don't worry |
| 1027 | 01:24:45,220 --> 01:24:51,040 | about panicking. There's no reason to do that. Go into this price. Run here. |
| 1028 | 01:24:52,000 --> 01:24:56,140 | That's your that's your breaker, right? Runs up and tags all the stops, gets |
| 1029 | 01:24:56,140 --> 01:24:59,680 | people stopped out if they were short, they're not allowed to be profitable. |
| 1030 | 01:24:59,800 --> 01:25:04,020 | You. Four trick them into a long trade, and then when they start raking them |
| 1031 | 01:25:04,380 --> 01:25:11,040 | across the coals, going lower, they're unprofitable. If that's the case, your |
| 1032 | 01:25:11,040 --> 01:25:14,820 | eye goes into this price run. Is there a fair value gap there? If there is, |
| 1033 | 01:25:15,120 --> 01:25:18,780 | extend it forward and then wait for the trade up there. Don't sell yourself |
| 1034 | 01:25:18,780 --> 01:25:22,820 | short and only look for the return to the breaker or the low point, because |
| 1035 | 01:25:22,880 --> 01:25:25,760 | it's going to trade right back up into that. And if you go back and look at |
| 1036 | 01:25:25,760 --> 01:25:28,880 | your examples, maybe you've taken trades, whether it be live demo, |
| 1037 | 01:25:28,880 --> 01:25:32,660 | whatever, or maybe you've done some annotations and chart work and |
| 1038 | 01:25:32,660 --> 01:25:36,620 | journaling, and you're focusing on studying on the breaker. Go back and see |
| 1039 | 01:25:36,620 --> 01:25:40,300 | if this signature doesn't appear in some of them, and maybe some of the things |
| 1040 | 01:25:40,300 --> 01:25:43,660 | that you would have taken as a trade there, or maybe you've taken and got |
| 1041 | 01:25:43,660 --> 01:25:48,100 | stopped out this was the factor that you didn't see it happening and notice that |
| 1042 | 01:25:48,100 --> 01:25:51,760 | this is the only buy side about sell side efficiency. And once you have a |
| 1043 | 01:25:51,760 --> 01:25:57,760 | valid return here and it sells off, what you should be focusing on is all of the |
| 1044 | 01:25:57,760 --> 01:26:03,360 | cities, all of the cities, until the narrative is likely to change, bullish, |
| 1045 | 01:26:04,080 --> 01:26:07,980 | your focus goes to only looking for sell side imbalances. That means a down close |
| 1046 | 01:26:07,980 --> 01:26:13,680 | candle that has a segment with the previous candles low in the subsequent |
| 1047 | 01:26:13,680 --> 01:26:19,140 | candle after it is has a high that doesn't connect, and the only bridge |
| 1048 | 01:26:19,140 --> 01:26:22,460 | between those two points is the down closed candle in between. That's your |
| 1049 | 01:26:22,460 --> 01:26:26,180 | fair value gap, and it's specifically a self sign of balance by signing |
| 1050 | 01:26:26,180 --> 01:26:33,440 | efficiency and by having that what that does, it removes the ambiguity, and it |
| 1051 | 01:26:33,440 --> 01:26:38,780 | gives you a very specific process of saying, Okay, I'm only focusing on these |
| 1052 | 01:26:38,780 --> 01:26:41,900 | specific fair value gaps. I get that question a lot, even with prior |
| 1053 | 01:26:41,900 --> 01:26:46,420 | mentorship students, how did I pick that one? Why did I pick that one? Why didn't |
| 1054 | 01:26:46,420 --> 01:26:50,320 | I pick this one over here? Well, that that comes with experience, and it may |
| 1055 | 01:26:50,320 --> 01:26:53,860 | seem like a compound to some of you to do straight assets, and you don't really |
| 1056 | 01:26:53,860 --> 01:26:57,580 | want to take the the honest truth. There's some things that you're going to |
| 1057 | 01:26:57,580 --> 01:27:01,320 | have to get with experience. And I don't make any bones about it. I don't sugar |
| 1058 | 01:27:01,320 --> 01:27:04,440 | coat it, and you're going to pick it up because you've been doing it long |
| 1059 | 01:27:04,860 --> 01:27:07,920 | enough. But to get that experience that's required to do a lot of things |
| 1060 | 01:27:07,920 --> 01:27:13,200 | that you're asking for answers, you got to do what I'm showing you here, and you |
| 1061 | 01:27:13,200 --> 01:27:16,980 | can do it after the fact. You can go back and look at it, and yes, you have |
| 1062 | 01:27:16,980 --> 01:27:21,500 | the added benefit of hindsight. Don't, don't discourage yourself in that, |
| 1063 | 01:27:21,860 --> 01:27:25,940 | because anything you learn, every surgeon that ever did a surgery on you, |
| 1064 | 01:27:26,660 --> 01:27:30,620 | they studied in a book. They watched other surgeons do it first, then they |
| 1065 | 01:27:30,620 --> 01:27:34,100 | worked on a cadaver to it's a dead body, okay? Where, if they cut some artery or |
| 1066 | 01:27:34,100 --> 01:27:36,620 | something, they make a mistake, the person is not going to assume for |
| 1067 | 01:27:36,620 --> 01:27:41,020 | malpractice or die on the on the table. They're already dead. So they're demo |
| 1068 | 01:27:41,020 --> 01:27:46,000 | trading with it with a corpse, okay? Or demo surgery with a corpse. But when you |
| 1069 | 01:27:46,000 --> 01:27:51,580 | start looking for it, there are, there's specific fair value gaps Caleb that I |
| 1070 | 01:27:51,580 --> 01:27:58,240 | want you to focus on, okay, the very first fair value gap prior to a stop |
| 1071 | 01:27:58,240 --> 01:28:03,120 | run, always, always, always, always have that one noted. And that's why it's |
| 1072 | 01:28:03,120 --> 01:28:06,720 | colored red here, or pink, if you want to call it that, because this is a |
| 1073 | 01:28:06,720 --> 01:28:11,340 | change in a direction. And what this is doing is acting just like an order |
| 1074 | 01:28:11,340 --> 01:28:18,960 | block. It's just change in the state of delivery. Oh, so I'm incorporating |
| 1075 | 01:28:18,960 --> 01:28:25,400 | narrative where the market goes up after seven o'clock stop hunt. Change breaks |
| 1076 | 01:28:25,400 --> 01:28:29,240 | lower, comes right back up into inefficiency, but to a very specific |
| 1077 | 01:28:29,240 --> 01:28:36,860 | fair value gap. It's the first one prior to a stop hunt. Okay, there's going to |
| 1078 | 01:28:36,860 --> 01:28:39,620 | be lots of times where this doesn't form, and that's okay, if it doesn't |
| 1079 | 01:28:39,620 --> 01:28:43,720 | form, what do throw everything out the window and start trading supply and |
| 1080 | 01:28:43,720 --> 01:28:50,740 | demand and Elliot leave, because nothing's going to work for you. I had |
| 1081 | 01:28:50,740 --> 01:28:53,680 | to toss that in there. I had to toss it in here, because some of you fall |
| 1082 | 01:28:53,680 --> 01:28:56,500 | asleep. You're like, Oh, dude, he's throwing on I don't know what's going |
| 1083 | 01:28:56,500 --> 01:29:02,040 | on. This fair value got okay, if it's not there, then you use the breaker. |
| 1084 | 01:29:02,400 --> 01:29:05,940 | It's very simple. It's the last down closed candle, okay, but your stop needs |
| 1085 | 01:29:05,940 --> 01:29:09,840 | to be above the highest high of the consecutive down closed candles, because |
| 1086 | 01:29:09,840 --> 01:29:14,100 | this is all the bearish breaker, both of these candles here. So your stop has to |
| 1087 | 01:29:14,100 --> 01:29:20,340 | be above that, okay. How much two? Two ticks, maybe one tick, many times. How |
| 1088 | 01:29:20,340 --> 01:29:24,500 | to Use this the high, because if it's really good, it won't, it really won't |
| 1089 | 01:29:24,500 --> 01:29:29,660 | like to go back up into the full range of that. So using the very high of that |
| 1090 | 01:29:30,020 --> 01:29:36,620 | with in our case, would be fine, not, not if you have this gap here inside the |
| 1091 | 01:29:36,620 --> 01:29:41,200 | leg that has to stop on because if you have that, then you could potentially |
| 1092 | 01:29:41,200 --> 01:29:44,920 | see a whole return back up into this and maybe a little Mohawk, a little, a |
| 1093 | 01:29:44,980 --> 01:29:48,760 | little tiny, little spike above outside with the wick of the candle, with the |
| 1094 | 01:29:48,760 --> 01:29:53,920 | body be inside or below that gap. So that's all part of stop management. So I |
| 1095 | 01:29:53,920 --> 01:29:58,840 | talked to no extra charge, but that changes the state of delivery, meaning |
| 1096 | 01:29:58,900 --> 01:30:03,840 | that we went up to stop. Out, and then this is where everything algorithmically |
| 1097 | 01:30:03,840 --> 01:30:08,040 | changes. Now we're going to start going lower. It's going to seek sell side |
| 1098 | 01:30:08,040 --> 01:30:12,840 | liquidity. It's going to reach for sell side it's going to expand lower. So you |
| 1099 | 01:30:12,840 --> 01:30:17,760 | want to key off of and look for turning points, or what will be future entry |
| 1100 | 01:30:17,760 --> 01:30:22,220 | points for you, Kayla, for trades to key off of these, sell side imbalances, buy |
| 1101 | 01:30:22,220 --> 01:30:31,100 | side efficiencies, every single city, every single short term high. So why do |
| 1102 | 01:30:31,100 --> 01:30:35,900 | you want short term high noted, even if it's a singular one, because there's |
| 1103 | 01:30:36,140 --> 01:30:41,260 | there stops above that. Okay, we already have a relative equal high here to form, |
| 1104 | 01:30:41,260 --> 01:30:46,600 | and it caused a potential reversal that moves lower, that seeks liquidity. We |
| 1105 | 01:30:46,600 --> 01:30:49,660 | had relative equal lows here. It traded down through that, and then we had all |
| 1106 | 01:30:49,660 --> 01:30:56,680 | this business in here. We swept below that here, actually, it's kind of |
| 1107 | 01:30:56,680 --> 01:31:00,940 | sloppy, isn't it? It's 940 Well, whatever you're not paying for it. I'm |
| 1108 | 01:31:00,940 --> 01:31:03,780 | giving you something extra I wanted to be done so wanted to be done sooner. My |
| 1109 | 01:31:03,780 --> 01:31:07,020 | wife's probably thinking every time he says he's going to be this much time, |
| 1110 | 01:31:07,020 --> 01:31:10,800 | it's invariably going to happen. If I say it's going to be a little one, it's |
| 1111 | 01:31:10,800 --> 01:31:16,020 | going to be a long one, but I really can't do a two hour one today, so we'll |
| 1112 | 01:31:16,020 --> 01:31:21,260 | probably end up doing a two hour one. This guy's bipolar, and he says one |
| 1113 | 01:31:21,260 --> 01:31:24,320 | thing in the next minute, he changed his mind. It's that's what it's like being |
| 1114 | 01:31:24,320 --> 01:31:29,540 | in my mind, it's a beautiful place. So every sell side imbalance, every cell |
| 1115 | 01:31:29,540 --> 01:31:38,540 | side imbalance. Don't see anyone here, yeah, notice how this one here? What is |
| 1116 | 01:31:38,540 --> 01:31:42,580 | this one? What's this? What's this? Fair Value yet, by classification and name, |
| 1117 | 01:31:42,820 --> 01:31:46,720 | what would you call that one? So buy side and balance out, sign in |
| 1118 | 01:31:46,720 --> 01:31:52,600 | efficiency. Okay, I'm not looking at that one. I won't highlight that one. I |
| 1119 | 01:31:52,600 --> 01:31:57,040 | won't extend it for because it's, it's against, it's against the underlying |
| 1120 | 01:31:57,040 --> 01:32:01,440 | direction and the state of delivery, which is it wants to go lower. So if it |
| 1121 | 01:32:01,440 --> 01:32:07,800 | wants to go lower, I'm not interested in this unless it shows me that it wants to |
| 1122 | 01:32:07,800 --> 01:32:12,780 | reverse, and it's done something very violent down here, like it could do it |
| 1123 | 01:32:12,780 --> 01:32:16,080 | here. I'm not saying it will, but if it did something violent and started to |
| 1124 | 01:32:16,080 --> 01:32:19,680 | reverse, then I would draw my attention to this one, because then I could act on |
| 1125 | 01:32:19,680 --> 01:32:23,480 | that as an inversion through Vega, because it would reverse its role. But |
| 1126 | 01:32:23,480 --> 01:32:27,860 | right now, when the narratives in in motion every sell side imbalanced by |
| 1127 | 01:32:27,860 --> 01:32:32,000 | side and efficiency I'm referring to, I'm not always drawing them out on the |
| 1128 | 01:32:32,000 --> 01:32:40,280 | chart, because, as you'll see, it's it can be rather uh, busy on your charts, |
| 1129 | 01:32:40,280 --> 01:32:43,120 | and I like to keep things naked, but not afraid, and |
| 1130 | 01:32:44,980 --> 01:32:48,760 | you can see it trading up into the consequent creation of that one. So |
| 1131 | 01:32:49,180 --> 01:32:52,720 | when, when you're trading or not sorry, when you're observing price action, |
| 1132 | 01:32:53,440 --> 01:32:56,980 | you're spending your time not pushing a button trying to trade. You're not |
| 1133 | 01:32:56,980 --> 01:33:00,640 | trying to convince people in live chats in their chat window. You're not trying |
| 1134 | 01:33:00,640 --> 01:33:04,200 | to tell influencers what you think is going to happen, because you're going to |
| 1135 | 01:33:04,200 --> 01:33:07,980 | wait for a high five, like, yeah, bro, or yeah sister. You know, none of that |
| 1136 | 01:33:07,980 --> 01:33:13,800 | stuff you're you're in your own little bubble every single day, and you're |
| 1137 | 01:33:13,800 --> 01:33:22,280 | looking for these things to unfold. Now, if you recall I mentioned yesterday. |
| 1138 | 01:33:24,260 --> 01:33:32,540 | Let's do that, right? Michael, come on. Eight o'clock is the same thing. There's |
| 1139 | 01:33:32,540 --> 01:33:38,060 | another point of confusion I want to clarify. I talked about the first 30 |
| 1140 | 01:33:38,060 --> 01:33:42,700 | minutes after seven o'clock and after eight o'clock and after nine o'clock, |
| 1141 | 01:33:42,700 --> 01:33:56,080 | that is your pre session range. Okay, it is 30 minutes of you expecting something |
| 1142 | 01:33:56,440 --> 01:34:02,280 | opposite. So in other words, if you see relative equal highs, what would you |
| 1143 | 01:34:02,280 --> 01:34:10,260 | expect after eight o'clock? You would expect a low or a price run lower. What |
| 1144 | 01:34:10,260 --> 01:34:14,700 | is that, by definition, opposing directional run that's against where you |
| 1145 | 01:34:14,700 --> 01:34:19,500 | think it's directing time go. That's a Judah swing. That's manipulation. It's |
| 1146 | 01:34:19,500 --> 01:34:24,500 | something that goes against the grain of what you're expecting, not what |
| 1147 | 01:34:24,500 --> 01:34:29,060 | everybody else on the internet is doing, but what you're expecting. Okay, if you |
| 1148 | 01:34:29,060 --> 01:34:32,840 | look around yesterday, everybody's titles on YouTube had stock market |
| 1149 | 01:34:32,840 --> 01:34:38,960 | crash, and I was in here telling you it's going to go up. Was that random? |
| 1150 | 01:34:40,400 --> 01:34:44,920 | No, because everybody had the same idea. And I sat down with you, explained to |
| 1151 | 01:34:44,920 --> 01:34:48,580 | you, this is what it's going to do, and we wait for it to present itself, and |
| 1152 | 01:34:48,580 --> 01:34:53,800 | then we put in motion a plan of where the next foothold or Next grab point, |
| 1153 | 01:34:53,800 --> 01:34:58,120 | like rock climbing, okay, a rock climber looks at the surface of the cliff that |
| 1154 | 01:34:58,120 --> 01:35:02,400 | is trying to climb, and he looks. Or she looks and tries to map out a pathway. |
| 1155 | 01:35:02,640 --> 01:35:06,720 | Okay, I am not going to just reach up for this grab point here with my hand |
| 1156 | 01:35:06,780 --> 01:35:10,320 | and pull myself up a little bit and then guess where the next hand hold is going |
| 1157 | 01:35:10,320 --> 01:35:13,860 | to be. They try to map out because they don't want to get to a point climbing up |
| 1158 | 01:35:13,860 --> 01:35:17,580 | using all that energy and then find out they're really not in a position to grab |
| 1159 | 01:35:17,580 --> 01:35:22,100 | onto something that's more efficient for the client to go back up? Well, in this |
| 1160 | 01:35:22,100 --> 01:35:29,120 | case, we have a descent, even though they were not trying to trade relative |
| 1161 | 01:35:29,120 --> 01:35:32,780 | equal highs and lows prior to seven o'clock in the morning. If this does |
| 1162 | 01:35:32,780 --> 01:35:37,040 | this and it starts to move lower, you have to incorporate the range. What |
| 1163 | 01:35:37,040 --> 01:35:42,280 | range is that the load it was formed prior to crossing the threshold of seven |
| 1164 | 01:35:42,280 --> 01:35:47,680 | o'clock in the morning. So we have all this run here. So every single one of |
| 1165 | 01:35:47,680 --> 01:35:54,700 | these inefficiencies over here, here, here, here, even though it's been used |
| 1166 | 01:35:54,700 --> 01:35:59,680 | already, you extend them in time, and they will be places for you to |
| 1167 | 01:35:59,680 --> 01:36:05,580 | anticipate price going up to and pushing into it, and then resisting and going |
| 1168 | 01:36:05,580 --> 01:36:09,720 | lower as it works and gravitates to that low right there, as I was hinting at |
| 1169 | 01:36:09,720 --> 01:36:17,220 | earlier. But the range, okay, the the pre session or pre market range after |
| 1170 | 01:36:17,580 --> 01:36:26,720 | the top of the hour, whether it be seven o'clock, eight o'clock or nine o'clock, |
| 1171 | 01:36:26,720 --> 01:36:31,640 | these are your three windows of opportunity. So right away, we can study |
| 1172 | 01:36:31,640 --> 01:36:37,880 | and see okay, there was really nothing in here except for these two right here, |
| 1173 | 01:36:37,880 --> 01:36:41,920 | these little, smaller ones. So what did it do? It rallied up where to go to some |
| 1174 | 01:36:41,920 --> 01:36:46,480 | random level. Nobody could have known that it was going to go that level. But |
| 1175 | 01:36:46,480 --> 01:36:51,220 | now you do, you have a stop hunt. The market broke down. So this is a shift in |
| 1176 | 01:36:51,220 --> 01:36:56,140 | market structure, okay? And this is a optimal trade entry, even if you didn't |
| 1177 | 01:36:56,140 --> 01:37:00,240 | have all the stuff I'm teaching you here and amplifying it. You already know |
| 1178 | 01:37:00,240 --> 01:37:05,460 | this? This was the flagship pattern of my channel since 12 2012 the optimal |
| 1179 | 01:37:05,460 --> 01:37:09,720 | trade entry, a shift in market structure. Measure your high to your |
| 1180 | 01:37:09,720 --> 01:37:21,620 | low. 60 to 72% retracement. 62 72% retracement level and 70.5 level. See, |
| 1181 | 01:37:21,620 --> 01:37:26,840 | this is, this is one of those moments where I'm able to hit control and tap M, |
| 1182 | 01:37:27,140 --> 01:37:31,220 | and I'll have to go back and listen to the audio, audio and edit and fix that |
| 1183 | 01:37:31,220 --> 01:37:36,500 | part, but it's live, so I have to, have to keep going. My OCD is, is tapping me |
| 1184 | 01:37:36,500 --> 01:37:39,860 | on the shoulder. But this is still a pattern you would have traded anyway |
| 1185 | 01:37:39,860 --> 01:37:45,460 | with using the rudimentary level lessons that I taught over a decade ago for free |
| 1186 | 01:37:45,460 --> 01:37:50,260 | on this YouTube channel, but now you're learning the signatures that present a |
| 1187 | 01:37:50,260 --> 01:37:57,880 | greater degree of precision and managing your expectations in the narrative. How |
| 1188 | 01:37:57,880 --> 01:38:02,280 | are you going to incorporate all these things and trust holding on to a trade. |
| 1189 | 01:38:03,540 --> 01:38:04,920 | So now we're going to go |
| 1190 | 01:38:12,120 --> 01:38:23,840 | into we have a I got distracted here. I had headphones on. So when I was |
| 1191 | 01:38:24,080 --> 01:38:29,540 | listening to a phone that's on Do Not Disturb I was still getting a flash on |
| 1192 | 01:38:29,540 --> 01:38:33,440 | the screen. I looked at it, made a mistake of looking at snap Abraham |
| 1193 | 01:38:33,440 --> 01:38:37,700 | concentration. But the each hour at seven o'clock, in this case, eight |
| 1194 | 01:38:37,700 --> 01:38:41,020 | o'clock, at nine o'clock, what you're doing is you're starting the whole |
| 1195 | 01:38:41,020 --> 01:38:44,860 | process all over again. You're waiting for relative equal highs to form or |
| 1196 | 01:38:44,860 --> 01:38:50,020 | identifying relative equal lows at eight o'clock, you can look prior to eight |
| 1197 | 01:38:50,020 --> 01:38:53,740 | o'clock. You just can't look prior to seven o'clock, relative equal highs or |
| 1198 | 01:38:53,740 --> 01:38:59,260 | lows because you're trying to work inside the range of the morning session. |
| 1199 | 01:38:59,980 --> 01:39:03,300 | Okay, in the morning session is essentially seven o'clock to 11 o'clock |
| 1200 | 01:39:03,300 --> 01:39:09,060 | in the morning, technically, until noon. But 11 o'clock for me, I like to, like |
| 1201 | 01:39:09,060 --> 01:39:13,680 | to be done by then. Frankly, I like to be done by 1015, 1030 you know, if I can |
| 1202 | 01:39:13,680 --> 01:39:18,240 | get something on and be paid out, I'm done. I don't I don't need to do |
| 1203 | 01:39:18,240 --> 01:39:22,160 | anything else. You may not like that. You might want to be for the whole day, |
| 1204 | 01:39:22,220 --> 01:39:25,340 | not me. I don't want to be in front of the charts. I don't like to be chained |
| 1205 | 01:39:25,340 --> 01:39:29,420 | in from the charts. But once you have a turn in the direction like this, and the |
| 1206 | 01:39:29,420 --> 01:39:38,060 | market's likely to draw lower, you'll see that by focusing on only one side of |
| 1207 | 01:39:38,060 --> 01:39:42,520 | the marketplace with the inefficiencies as we have here, it's moving lower, so |
| 1208 | 01:39:42,580 --> 01:39:47,920 | every Sibi is extended to the right. Okay, if you remember, on Twitter, I |
| 1209 | 01:39:47,920 --> 01:39:51,820 | would tell you note a specific fair value you got, and I'd say, extend it to |
| 1210 | 01:39:51,820 --> 01:39:59,740 | the right. That's this. That's me dealing this here. Okay, and you know |
| 1211 | 01:39:59,740 --> 01:40:04,860 | when. You see the market trade. You know, through them a little bit, you'll |
| 1212 | 01:40:04,860 --> 01:40:08,100 | see a troll or someone that has no idea what the hell is going on. They'll say, |
| 1213 | 01:40:08,100 --> 01:40:10,860 | oh, yeah, he thought it was going to sell. That's not, that's not what we're |
| 1214 | 01:40:10,860 --> 01:40:17,160 | doing here. You're you're going to wait for it to cover over top of it, and then |
| 1215 | 01:40:17,160 --> 01:40:22,220 | break back down through it, and then it will act as what you expect it to do. |
| 1216 | 01:40:23,540 --> 01:40:27,560 | Many of you, when you see me, talk about inefficiencies, fair value, gaps, |
| 1217 | 01:40:27,560 --> 01:40:32,840 | sippies, busy, all that business, you anticipate that, oh, it's a matter of |
| 1218 | 01:40:32,840 --> 01:40:36,320 | just going up once it gets into here. All you gotta do is sell short, right |
| 1219 | 01:40:36,320 --> 01:40:43,240 | there. That's not it, folks. You have to anticipate a measure of manipulation. |
| 1220 | 01:40:43,660 --> 01:40:47,200 | What was the price doing here? I told you, it was getting kind of sloppy. We |
| 1221 | 01:40:47,200 --> 01:40:53,320 | had this inefficiency. Yeah. But what else is there? What else is there? You |
| 1222 | 01:40:53,320 --> 01:40:57,340 | have this energetic drop that created that city, and there's going to be what |
| 1223 | 01:40:57,340 --> 01:41:00,160 | trailed there. For anyone that's short, they're going to put their stop loss |
| 1224 | 01:41:00,160 --> 01:41:05,640 | right there. Well, that efficiently done, been removed with this bump here, |
| 1225 | 01:41:06,240 --> 01:41:11,760 | back into an old Sibi. And then you have a market break down. Look at the work |
| 1226 | 01:41:11,760 --> 01:41:15,780 | around the halfway point, which is consequent encroachment. The market |
| 1227 | 01:41:15,780 --> 01:41:21,320 | drops. Opens again here, breaks lower. We have an inefficiency. The bodies are |
| 1228 | 01:41:21,320 --> 01:41:24,440 | telling you, yes, this is going to go lower. Why? Because it stops right |
| 1229 | 01:41:24,440 --> 01:41:29,180 | there. See that the wicks are allowed to do, what a little bit of damage is it |
| 1230 | 01:41:29,180 --> 01:41:32,660 | going to random locations? No, it just bumps the bottom of that city over |
| 1231 | 01:41:32,660 --> 01:41:42,100 | there, right there, and then works lower. Now, at nine o'clock. The same |
| 1232 | 01:41:42,100 --> 01:41:46,900 | thing, you can look at any relative equal high or low prior to eight |
| 1233 | 01:41:46,900 --> 01:41:54,040 | o'clock, up to seven o'clock if you're going to be trading with longer term |
| 1234 | 01:41:54,040 --> 01:41:57,940 | price runs. For the folks that are asking me, how do you hold on for longer |
| 1235 | 01:41:57,940 --> 01:42:01,980 | trades? In that case, you're going to have to look at the previous day's |
| 1236 | 01:42:01,980 --> 01:42:05,760 | range, and what is the previous day's low, or if it's if it's going higher, |
| 1237 | 01:42:05,820 --> 01:42:10,800 | what's the previous day's high? And that's your next logical level to reach |
| 1238 | 01:42:10,800 --> 01:42:14,220 | for. But I don't want to give Caleb anything beyond the scope of what I've |
| 1239 | 01:42:14,220 --> 01:42:18,780 | already covered, because it's giving him way too many things to worry about. And |
| 1240 | 01:42:18,780 --> 01:42:24,140 | if you're brand new, you're probably feeling that too. But in short, what |
| 1241 | 01:42:24,140 --> 01:42:28,640 | you're doing is is at seven o'clock that starts the hunt for relative equal highs |
| 1242 | 01:42:28,640 --> 01:42:32,840 | or lows. If you see a disruption, like we were talking about yesterday, where |
| 1243 | 01:42:32,840 --> 01:42:37,760 | it's jagged, you see how it's nice and jagged. That's that's indicating it's |
| 1244 | 01:42:37,760 --> 01:42:41,320 | probably going to go the opposite direction, especially if you have all |
| 1245 | 01:42:41,320 --> 01:42:45,820 | these other supporting factors where that would have been a breaker. This is |
| 1246 | 01:42:45,820 --> 01:42:50,800 | obviously a high probability inversion, fair value gap, and it hits it here |
| 1247 | 01:42:50,920 --> 01:42:54,700 | respects consequent encroachment breaks down, and then we have another return in |
| 1248 | 01:42:54,700 --> 01:42:59,920 | here. Here's the optimal trend entry as well. And everything is your mindset is |
| 1249 | 01:42:59,920 --> 01:43:04,260 | okay, I'm looking for lower, I'm looking for lower, I'm looking for lower. And it |
| 1250 | 01:43:04,260 --> 01:43:08,820 | breaks lower. And then you highlight every single time, it creates an |
| 1251 | 01:43:08,820 --> 01:43:14,160 | inefficiency where it's a big candle that doesn't have any overlapping with |
| 1252 | 01:43:14,160 --> 01:43:19,080 | the candle prior to it for me or the candle after it. So it creates that |
| 1253 | 01:43:19,080 --> 01:43:24,740 | inefficiency, that imbalance. And then when you have these long, protracted |
| 1254 | 01:43:24,740 --> 01:43:30,560 | consolidations like that, it's really better for you to sit still, let them do |
| 1255 | 01:43:30,560 --> 01:43:35,060 | whatever they're going to do. Why? What do we have there? What'd that say |
| 1256 | 01:43:35,060 --> 01:43:39,320 | yesterday? We have relative equal highs and we have relative equal lows. You're |
| 1257 | 01:43:39,320 --> 01:43:43,060 | going to be playing the breakout game. And I'm not a breakout artist. I'm not |
| 1258 | 01:43:43,060 --> 01:43:47,740 | trying to guess. I want to see what the market's going to do. So by this run up, |
| 1259 | 01:43:48,280 --> 01:43:55,060 | it can trade in any one of these fair value gaps in here. It does. And does it |
| 1260 | 01:43:55,060 --> 01:43:59,440 | fall out of bed? Yep. So what I would require, and you've heard me say, Well, |
| 1261 | 01:43:59,620 --> 01:44:04,800 | next, technically, he heard me. You'll see in old tweets where I'll say, we |
| 1262 | 01:44:04,800 --> 01:44:09,540 | want to see this fair value gap at as an inversion. Fair value gap, well, that |
| 1263 | 01:44:09,540 --> 01:44:13,560 | means it ran above it. It's got to go below it and then do this right there, |
| 1264 | 01:44:13,560 --> 01:44:20,840 | that function of redelivering to it, then a deeper protraction lower to upset |
| 1265 | 01:44:20,840 --> 01:44:25,580 | any liquidity that would be resting below here, as much as and to the degree |
| 1266 | 01:44:25,580 --> 01:44:29,900 | of reaching down into that low over there, because that's the low in London. |
| 1267 | 01:44:31,400 --> 01:44:38,900 | See that. So when you have your charts, Caleb, what I'm interested? I'm only |
| 1268 | 01:44:38,900 --> 01:44:44,080 | interested in seeing anything before seven o'clock, if the range of the |
| 1269 | 01:44:44,140 --> 01:44:49,300 | morning session trades to the London session low or the london session high. |
| 1270 | 01:44:50,140 --> 01:44:54,580 | Other than that, I don't want to see anything on your charts beyond this. |
| 1271 | 01:44:56,260 --> 01:45:01,620 | Okay, that's it. So all your charts are going to have about. Out six o'clock or |
| 1272 | 01:45:01,620 --> 01:45:08,580 | so, just to get a little taste of what London was doing, and then everything |
| 1273 | 01:45:08,580 --> 01:45:13,440 | else in your charts need to be very, very simple, but I want nine o'clock |
| 1274 | 01:45:13,440 --> 01:45:20,220 | delineated, eight o'clock delineated, and seven o'clock delineated, and any |
| 1275 | 01:45:20,520 --> 01:45:24,140 | formation of relative equal highs or lows. I want you to annotate them, okay? |
| 1276 | 01:45:24,140 --> 01:45:30,920 | And the way I want you to annotate them is, don't use this. Don't do this. Okay? |
| 1277 | 01:45:30,920 --> 01:45:32,180 | I want you to draw, |
| 1278 | 01:45:38,300 --> 01:45:42,760 | hold down, Shift as you drag it over. It'll keep it straight, and I want you |
| 1279 | 01:45:42,760 --> 01:45:49,900 | to annotate it like that and choose whatever color you want. It doesn't |
| 1280 | 01:45:49,900 --> 01:45:53,380 | matter. Don't just because dad's using this color, I'm just sticking with this |
| 1281 | 01:45:53,380 --> 01:45:58,840 | color right now because it's saving me some time. May not feel like it because |
| 1282 | 01:45:58,840 --> 01:46:04,080 | I'm taking more time than some of you guys are wanting me to spend doing it. |
| 1283 | 01:46:06,900 --> 01:46:11,340 | All right? And that's the relative equal lows and the relative equal highs I said |
| 1284 | 01:46:11,820 --> 01:46:16,740 | yesterday. When you have both of them, you wait, you wait for them to take one |
| 1285 | 01:46:16,740 --> 01:46:20,960 | side out. What does it do? It runs higher. So what's it going to attack |
| 1286 | 01:46:20,960 --> 01:46:28,520 | now, that one and it runs down below, okay, so as it is right now, if there |
| 1287 | 01:46:28,520 --> 01:46:34,460 | was any trade taken or no trade taken at all, you would do nothing, because it's |
| 1288 | 01:46:34,460 --> 01:46:39,080 | already done a whole lot of movement, and it's back in an area where I |
| 1289 | 01:46:39,080 --> 01:46:43,600 | wouldn't want to see it as a trade back in this city again, because we've |
| 1290 | 01:46:43,600 --> 01:46:48,460 | already done once, twice, overlapped, it, respected it, and now we're back |
| 1291 | 01:46:48,460 --> 01:46:51,640 | inside of it again. That is low probability, and it could fall out of |
| 1292 | 01:46:51,640 --> 01:46:55,480 | bed and crash 1000 points a day. It still wouldn't be a trade I took because |
| 1293 | 01:46:55,480 --> 01:47:00,660 | it's against the rules of me wanting to use it. It's it's been overlapped and |
| 1294 | 01:47:00,660 --> 01:47:06,720 | worked multiple times, and it's done enough so your day would be complete |
| 1295 | 01:47:06,720 --> 01:47:11,040 | here. And you would capture everything just like this, and then you would |
| 1296 | 01:47:11,100 --> 01:47:16,080 | annotate it like this. Would be an area where you could highlight or type out |
| 1297 | 01:47:16,680 --> 01:47:22,340 | any observations or what you felt about this movement here, in this little area |
| 1298 | 01:47:22,340 --> 01:47:25,700 | here you would annotate in text. So you would just take the text and say |
| 1299 | 01:47:25,700 --> 01:47:26,780 | something like this, like I'm |
| 1300 | 01:47:49,600 --> 01:47:53,380 | okay, and just simple little statements like this, and what you're doing is |
| 1301 | 01:47:53,380 --> 01:48:01,780 | you're highlighting your focus here and here and here And up here in this |
| 1302 | 01:48:01,780 --> 01:48:06,600 | segment, you can do something like, I like how it reacted off that inversion |
| 1303 | 01:48:06,600 --> 01:48:10,140 | fair value guy. So what you're doing is you're cherry picking points of |
| 1304 | 01:48:10,140 --> 01:48:17,040 | reference for your journal. And when you see the chart again the next day, like |
| 1305 | 01:48:17,040 --> 01:48:20,660 | tomorrow, when you sit down, you look at price action, you refer to what it did |
| 1306 | 01:48:20,660 --> 01:48:27,380 | yesterday. And these levels will be subconsciously retained as significant, |
| 1307 | 01:48:27,860 --> 01:48:33,320 | and it'll reinforce it subconsciously as a memory worth holding on to. And then |
| 1308 | 01:48:33,320 --> 01:48:37,340 | when the weekend comes and you go back to your journal and your charts and you |
| 1309 | 01:48:37,340 --> 01:48:41,380 | have these little annotations, what that will do is you'll read this comment |
| 1310 | 01:48:41,380 --> 01:48:48,100 | says, I like the obvious return of price. And don't have any typos like |
| 1311 | 01:48:48,100 --> 01:48:50,380 | this that |
| 1312 | 01:49:00,220 --> 01:49:05,400 | still don't I like the obvious return of price that the cities, |
| 1313 | 01:49:16,260 --> 01:49:24,140 | there we go, you know, Folks, you know, with one of those Biden movements, what |
| 1314 | 01:49:24,140 --> 01:49:30,320 | did you say? You Republican? Some bitch, here's one. I'm probably going to vote |
| 1315 | 01:49:30,320 --> 01:49:33,920 | this year. I'm probably going to vote for the first time, and you should vote |
| 1316 | 01:49:33,920 --> 01:49:38,900 | too. I'm not going to say who I'm voting for, because then you probably really |
| 1317 | 01:49:38,900 --> 01:49:48,460 | hate me, but I'll tell you any hairs. Oh, man, I'm such a troublemaker. So you |
| 1318 | 01:49:48,460 --> 01:49:51,400 | annotate your charts that way. You have something that when you refer to on the |
| 1319 | 01:49:51,400 --> 01:49:57,040 | weekend, it is a positive reference. You do nothing negative. You say nothing |
| 1320 | 01:49:57,040 --> 01:50:01,260 | negative. You criticize nothing negatively. You. And you draw out the |
| 1321 | 01:50:01,260 --> 01:50:06,600 | things that are useful information, okay? And when you do that, and you look |
| 1322 | 01:50:06,600 --> 01:50:10,560 | at it on the on the weekend, as a reflection, you're never looking at |
| 1323 | 01:50:10,560 --> 01:50:15,660 | things through the lens of regret, you notice that. And what does that do? It |
| 1324 | 01:50:15,660 --> 01:50:22,580 | manages your fear and greed. It manages regret. If you missed a move, you've |
| 1325 | 01:50:22,580 --> 01:50:26,780 | logged what you're focusing on. So when you look at an old chart, you're not |
| 1326 | 01:50:26,780 --> 01:50:29,480 | looking at man, I could have went short here, or I could have went short here |
| 1327 | 01:50:29,480 --> 01:50:34,640 | and held for all this move. That's what everybody does wrong. And I tortured |
| 1328 | 01:50:34,640 --> 01:50:40,180 | myself as a 20 year old doing that. I literally whooped my ass every day in a |
| 1329 | 01:50:40,180 --> 01:50:45,160 | journal, telling myself everything I did wrong, and then wondered why it took six |
| 1330 | 01:50:45,160 --> 01:50:49,900 | years for me to get it figured out that I was doing this to myself, like I was |
| 1331 | 01:50:49,900 --> 01:50:54,460 | doing all those things holding myself back. But I thought, well, I'm going to |
| 1332 | 01:50:54,460 --> 01:50:58,240 | be hard on myself because that's that's what I need to do, and that that was |
| 1333 | 01:50:58,240 --> 01:51:03,300 | actually detrimental to my development and my understanding about how I see |
| 1334 | 01:51:03,300 --> 01:51:07,080 | things in price and how I'm going to interact and how I'm going to treat |
| 1335 | 01:51:07,080 --> 01:51:10,500 | myself after the fact, whether I took a trade or didn't take a trade, whether I |
| 1336 | 01:51:10,500 --> 01:51:14,760 | had a win, I had a loss, I had a win, then lost money, like all those things, |
| 1337 | 01:51:14,760 --> 01:51:17,760 | you have no idea what you're going to do when you go through those experiences, |
| 1338 | 01:51:17,760 --> 01:51:21,020 | and until you develop skill sets to manage your emotions and your |
| 1339 | 01:51:21,020 --> 01:51:27,380 | expectations, and you do that with your journal, with role based ideas, okay, |
| 1340 | 01:51:27,740 --> 01:51:33,680 | until you appreciate the level of responsibility that this puts on you, |
| 1341 | 01:51:34,340 --> 01:51:38,000 | you won't understand it. It's easy to say, well, I'm going to trade. I'm just |
| 1342 | 01:51:38,000 --> 01:51:41,440 | going to go out and start pushing buttons. Well, okay, you know, people go |
| 1343 | 01:51:41,440 --> 01:51:44,140 | to casinos all the time, and they go home pissed off. They took too much |
| 1344 | 01:51:44,140 --> 01:51:47,260 | money and they didn't they didn't leave, or they should have stayed home because |
| 1345 | 01:51:47,260 --> 01:51:51,400 | they wasted their money. And you can waste your money looking at these |
| 1346 | 01:51:51,400 --> 01:51:55,960 | candlesticks and telling yourself a story that ain't there. So you have to |
| 1347 | 01:51:55,960 --> 01:52:01,440 | have an expectation on price at a time of day. In this case, you have three |
| 1348 | 01:52:01,440 --> 01:52:09,780 | specific times of the day, and the first 30 minutes, at 37 o'clock, after eight |
| 1349 | 01:52:09,780 --> 01:52:14,940 | o'clock and after nine o'clock. If there is relative equal highs or relative |
| 1350 | 01:52:14,940 --> 01:52:21,080 | equal lows below the marketplace, then you want to see a move the first 30 |
| 1351 | 01:52:21,080 --> 01:52:26,300 | minutes, go in the opposite direction, up, if there's relative equal highs that |
| 1352 | 01:52:26,300 --> 01:52:31,940 | form after seven o'clock, after eight o'clock and after nine o'clock, that |
| 1353 | 01:52:31,940 --> 01:52:38,060 | first 30 minutes, you want to see the market drop. You want to see a measure |
| 1354 | 01:52:38,060 --> 01:52:43,060 | of manipulation. It doesn't have to only be in that first 30 minutes. But in my |
| 1355 | 01:52:43,060 --> 01:52:48,040 | mind, I'm thinking, I want to see that. And if I got that and it was given to me |
| 1356 | 01:52:48,040 --> 01:52:53,200 | in delivery price, then my interest in this move is even more peaked. I'm |
| 1357 | 01:52:53,200 --> 01:52:58,600 | really interested in it. If it doesn't do it, I'll wait for more information, |
| 1358 | 01:52:58,840 --> 01:53:01,620 | because it might have a deeper retracement than I would have expected |
| 1359 | 01:53:01,620 --> 01:53:06,120 | initially, and then I'll wait for a breakdown, and then having all these |
| 1360 | 01:53:06,300 --> 01:53:10,920 | inefficiencies extended over the market will refer back to them. And then all I |
| 1361 | 01:53:10,920 --> 01:53:14,820 | have to do is wait for a bus to get there, and then ride that thing down the |
| 1362 | 01:53:14,820 --> 01:53:20,340 | southern town, and that's it, and be content with it. Okay? So another |
| 1363 | 01:53:22,080 --> 01:53:26,900 | suggestion, and this is something you'll learn more about Caleb. But for now, I |
| 1364 | 01:53:26,900 --> 01:53:31,580 | want you to start measuring all the price swings that form. In other words, |
| 1365 | 01:53:31,580 --> 01:53:36,080 | if it's if it's moved lower, this is something you do after the fact. Okay, |
| 1366 | 01:53:36,080 --> 01:53:40,480 | don't try to do this while it's happening, but after the fact, okay, and |
| 1367 | 01:53:40,480 --> 01:53:45,820 | it'll teach you range finding how like, how far prices can run. You're going to |
| 1368 | 01:53:45,820 --> 01:53:52,060 | take the FIB and you're high here, you're going to take that and anchor it |
| 1369 | 01:53:52,060 --> 01:53:59,140 | to the lowest low at seven o'clock. And this is what my Fibonacci settings are. |
| 1370 | 01:53:59,140 --> 01:54:04,980 | So that way, if you've never seen them, you can see them now. And then you have |
| 1371 | 01:54:04,980 --> 01:54:14,880 | two and a half, all right, so two, which is one standard deviation, would be |
| 1372 | 01:54:14,880 --> 01:54:18,180 | about right here, and then two standard deviations, and then you got two and a |
| 1373 | 01:54:18,180 --> 01:54:21,560 | half, which is usually, like the extreme, for like, the wick purposes, |
| 1374 | 01:54:21,560 --> 01:54:27,200 | where I can just, just get outside the range of what you'd reasonably expect. |
| 1375 | 01:54:27,440 --> 01:54:33,320 | And that's kind of like a ballpark figure. Same thing happening on the |
| 1376 | 01:54:33,320 --> 01:54:39,560 | eight o'clock hour. You can take the FIB from the high to the lowest low at eight |
| 1377 | 01:54:39,560 --> 01:54:46,420 | o'clock, all right, so we have almost all the lows in here, and then we have |
| 1378 | 01:54:46,420 --> 01:54:52,960 | the Fibonacci at nine o'clock. So the high, the highest high, at nine o'clock, |
| 1379 | 01:54:52,960 --> 01:55:02,580 | they form the floor. That's four and the lowest low, up to nine o'clock. One and |
| 1380 | 01:55:02,640 --> 01:55:05,520 | I have to go to standard deviation one, it looks like, |
| 1381 | 01:55:17,040 --> 01:55:26,600 | okay, so we have this area in here, this area in here, look how close in |
| 1382 | 01:55:26,600 --> 01:55:30,080 | proximity that is. And then you have this one here, starting at seven |
| 1383 | 01:55:30,080 --> 01:55:34,880 | o'clock. So these are all parameters without using like a thing, like average |
| 1384 | 01:55:34,880 --> 01:55:37,580 | daily range. We don't need to use anything like that. These are all |
| 1385 | 01:55:37,580 --> 01:55:42,520 | ballpark estimates where it gives you a feel for how far it can reach |
| 1386 | 01:55:42,940 --> 01:55:48,520 | mathematically by itself. That's absolutely useless information, useless. |
| 1387 | 01:55:48,700 --> 01:55:54,520 | But when you incorporate it with real range, like we have over here, so we |
| 1388 | 01:55:54,520 --> 01:55:57,880 | have below this low, that's definitely something that's possible. And if it |
| 1389 | 01:55:57,880 --> 01:56:01,560 | really wants to be animated and go below that low, it can go as far as this level |
| 1390 | 01:56:01,560 --> 01:56:05,040 | down here, and it got real close to it, but fell short of it. And that's fine, |
| 1391 | 01:56:06,300 --> 01:56:11,880 | which is one of the arguments when we start doing entries, when I start |
| 1392 | 01:56:11,880 --> 01:56:14,880 | teaching you how to actually get into the trades, and what you're you know, |
| 1393 | 01:56:14,880 --> 01:56:19,440 | what you're holding for, the targets, what you're holding for, and what it's |
| 1394 | 01:56:19,440 --> 01:56:24,980 | likely to give you, in terms of a profit or target, how to say, Okay, this is how |
| 1395 | 01:56:24,980 --> 01:56:29,360 | far it can go. But where's the highest degree of probability, where, even if it |
| 1396 | 01:56:29,360 --> 01:56:35,180 | doesn't go to that specific XYZ target, and that's the perfect case exit point, |
| 1397 | 01:56:35,660 --> 01:56:39,440 | where am I going to come to the conclusion that this is an appropriate |
| 1398 | 01:56:39,440 --> 01:56:43,000 | level for me to escape the trade and be content with that, even if it moves |
| 1399 | 01:56:43,000 --> 01:56:47,020 | beyond it, and see if it still goes 200 handles past where I get out. I don't |
| 1400 | 01:56:47,020 --> 01:56:50,980 | care, because this was such a lion's portion of the move. I'm content with |
| 1401 | 01:56:50,980 --> 01:56:56,080 | that these are types. These are types of strategies I use. Okay, I look for the |
| 1402 | 01:56:56,140 --> 01:57:00,540 | the expansion below the underlying market structure, and I reference it |
| 1403 | 01:57:00,540 --> 01:57:04,980 | with those specific elements of time, and I don't demand that they give the |
| 1404 | 01:57:04,980 --> 01:57:09,000 | highest high and the lowest low. I'm looking for a convergence of these |
| 1405 | 01:57:09,000 --> 01:57:14,940 | levels in agreement with an actual old low or an old high. Doesn't need to be |
| 1406 | 01:57:14,940 --> 01:57:18,780 | relative equal highs or relative equal lows. It's just it's reaching for |
| 1407 | 01:57:18,780 --> 01:57:25,760 | another a pool of liquidity. But for this model that you're learning, you're |
| 1408 | 01:57:25,760 --> 01:57:29,960 | looking for relative equal highs in form after seven o'clock, for relative equal |
| 1409 | 01:57:29,960 --> 01:57:34,580 | lows, and you're going to look for them to target that very drawn liquidity. And |
| 1410 | 01:57:34,580 --> 01:57:38,180 | then, as it goes to the next hour, if you don't have one or it worked off of |
| 1411 | 01:57:38,180 --> 01:57:42,820 | one already, as it did here at eight o'clock, you wait for it again, and you |
| 1412 | 01:57:42,820 --> 01:57:49,540 | measure that directional bias, where it's likely to go and if it is likely to |
| 1413 | 01:57:49,540 --> 01:57:53,440 | go, lower your focus your eye. This is the thing you're supposed to walk away |
| 1414 | 01:57:53,440 --> 01:57:58,000 | with. In terms of the learning today, your eye jumps to all the sell side and |
| 1415 | 01:57:58,000 --> 01:58:01,680 | balance by side efficiencies. That means the down, close, big range candles. |
| 1416 | 01:58:01,860 --> 01:58:06,480 | They're all by themselves that I'm highlighting on your eye jumps to those |
| 1417 | 01:58:06,720 --> 01:58:11,280 | Okay, so when you're going back and you look at last week's charts, and you do |
| 1418 | 01:58:11,280 --> 01:58:14,700 | this every single day of the week, Monday, Tuesday, Wednesday, Thursday and |
| 1419 | 01:58:14,700 --> 01:58:18,540 | Friday, and we sit down on the weekend and we look at this week, and you'll |
| 1420 | 01:58:18,540 --> 01:58:23,360 | have last week. So you're going to show me 10 charts, or 10 days of data, but |
| 1421 | 01:58:23,360 --> 01:58:29,960 | all of this needs to be shown at the very lowest, one minute chart. But |
| 1422 | 01:58:29,960 --> 01:58:33,440 | referring to things on a 15 minute chart, if it's salient, if it has some |
| 1423 | 01:58:33,800 --> 01:58:37,880 | relevance to what you're looking for, based on the rules I'm giving here, but |
| 1424 | 01:58:37,880 --> 01:58:42,940 | all you're doing is limiting your focus and highlighting, okay, it's likely to |
| 1425 | 01:58:42,940 --> 01:58:47,080 | go lower and reach for relative equal lows, or it's reaching higher for |
| 1426 | 01:58:47,080 --> 01:58:53,500 | relative equal highs, once you determine that you stick with it, even if it turns |
| 1427 | 01:58:53,500 --> 01:58:56,080 | against you, this is the part that somebody you're going to be |
| 1428 | 01:58:56,080 --> 01:58:59,320 | uncomfortable hearing, because you think it's going to work out perfectly for |
| 1429 | 01:58:59,320 --> 01:59:03,840 | you, and this is going to keep moving and you'll want to go do demo trades, or |
| 1430 | 01:59:03,840 --> 01:59:07,140 | past funded account challenges or trade with real money because you think you've |
| 1431 | 01:59:07,140 --> 01:59:12,060 | learned it already. That's a mistake. That's foolishness. Don't do that. What |
| 1432 | 01:59:12,060 --> 01:59:18,840 | you're doing is is you're sticking with an idea and a process. And my best model |
| 1433 | 01:59:18,840 --> 01:59:28,100 | isn't 100% my best model is not 100% so I have to build in what I have to afford |
| 1434 | 01:59:28,100 --> 01:59:33,620 | myself, the flexibility that I'm going to do it wrong. I'm going to be |
| 1435 | 01:59:33,620 --> 01:59:39,620 | overzealous, because if I've allowed social media, other people to be against |
| 1436 | 01:59:39,620 --> 01:59:43,660 | my idea, the more folks that are like that, I get really excited about that. |
| 1437 | 01:59:43,660 --> 01:59:48,340 | That's when I do get excited, because I know I'm a a minority in a move in the |
| 1438 | 01:59:48,340 --> 01:59:53,380 | marketplace that I know has a huge degree of probability. And then I, you |
| 1439 | 01:59:53,380 --> 01:59:58,180 | know, I many times will, I'll try to out trade my my methodology and anticipate |
| 1440 | 01:59:58,180 --> 02:00:01,740 | the setup. So this is why I stress to you. Don't, don't try to anticipate a |
| 1441 | 02:00:01,740 --> 02:00:06,600 | setup. Wait for it to be there, because if it's really there, you'll see it. And |
| 1442 | 02:00:06,600 --> 02:00:09,480 | contrast that with, well, you know, I think it's going to go up. I just want |
| 1443 | 02:00:09,480 --> 02:00:12,360 | to hurt and get in it, because I'm afraid it might run off without me. And |
| 1444 | 02:00:12,360 --> 02:00:15,180 | I don't want to wait for the setup. And then you get in, then it starts |
| 1445 | 02:00:15,180 --> 02:00:18,660 | squeezing against you, maybe even trading back to a level you thought was |
| 1446 | 02:00:18,660 --> 02:00:22,760 | going to be the entry for you, but now, because you entered at a higher level, |
| 1447 | 02:00:23,120 --> 02:00:26,840 | it's drawing money out of your account, and it you're worried about that, not |
| 1448 | 02:00:27,020 --> 02:00:30,140 | well, it was originally going to go to that level and get me in, but then you |
| 1449 | 02:00:30,140 --> 02:00:33,920 | get out, or you put a stop loss in there too quick, because you don't want to |
| 1450 | 02:00:33,920 --> 02:00:38,360 | lose too much money, even though that subconsciously, you know, you should |
| 1451 | 02:00:38,360 --> 02:00:43,360 | have never took that trade. Okay? All those things are managed and prevented |
| 1452 | 02:00:43,360 --> 02:00:46,480 | by doing what I'm telling you to do here. Don't worry about trading right |
| 1453 | 02:00:46,480 --> 02:00:49,900 | now. Don't worry about entering anything. You need to be focusing on |
| 1454 | 02:00:49,900 --> 02:00:53,980 | what is important in the marketplace right now. So if the market's going to |
| 1455 | 02:00:53,980 --> 02:01:01,680 | gravitate lower, your eye jumps to only cities. If you start seeing these |
| 1456 | 02:01:01,680 --> 02:01:07,080 | cities, that's these down, close, big, large range candles. You have one here, |
| 1457 | 02:01:07,080 --> 02:01:13,800 | you see that. And then I'm going to close it. We've had enough time to do |
| 1458 | 02:01:14,700 --> 02:01:21,440 | and, okay, we have the market trade. I think the bodies are pretty much |
| 1459 | 02:01:21,440 --> 02:01:25,220 | respecting this inefficiency. The wicks go back to this city that acts as an |
| 1460 | 02:01:25,220 --> 02:01:30,320 | inversion fair value gap, and then we have this nice launch lower, disrupting |
| 1461 | 02:01:30,380 --> 02:01:34,460 | all these relatively glows. Here, we expand down through it, and then we |
| 1462 | 02:01:34,460 --> 02:01:39,320 | trade back up to it, and it breaks lower. And then what does it do here? It |
| 1463 | 02:01:39,320 --> 02:01:44,440 | disregards it. So now something has happened down here. So when you're |
| 1464 | 02:01:44,440 --> 02:01:47,260 | looking at it spread out like it doesn't look so obvious, but when you do |
| 1465 | 02:01:47,260 --> 02:01:53,920 | something like this, take a step back. This is something I learned from Larry |
| 1466 | 02:01:53,920 --> 02:02:01,200 | Williams. If you feel like you're losing touch, zoom out or go to a hard time |
| 1467 | 02:02:01,200 --> 02:02:05,160 | frame and step back away from your charts, look at it from across the room, |
| 1468 | 02:02:05,880 --> 02:02:10,560 | and you'll see that this looks very jagged. But when you're zoomed in real |
| 1469 | 02:02:10,560 --> 02:02:15,420 | tight, it doesn't look jagged. But this is a disruption, and as I mentioned |
| 1470 | 02:02:15,660 --> 02:02:19,440 | earlier this morning, before it went below here, this would be a potential |
| 1471 | 02:02:19,440 --> 02:02:24,020 | area to look for, it to draw down based on any assumptions of this being a |
| 1472 | 02:02:24,020 --> 02:02:27,860 | reversal pattern, as I outlined with the breaker and inversion fair value gap. |
| 1473 | 02:02:28,820 --> 02:02:33,980 | But this right here is made jagged, smooth, made jagged. So what will we do? |
| 1474 | 02:02:34,220 --> 02:02:41,260 | We look for buy side by side. Would be this high and this high in here trades |
| 1475 | 02:02:41,260 --> 02:02:45,940 | above it. We don't really have a high to work off here, because this is the |
| 1476 | 02:02:45,940 --> 02:02:51,520 | highest one, and goes down as we go over here. So it's this high here. So this is |
| 1477 | 02:02:51,520 --> 02:02:55,600 | in a potential run on this high here. And that's something you can watch |
| 1478 | 02:02:55,600 --> 02:02:58,960 | today, the rest of the day, and study that. And then once it does it, if it |
| 1479 | 02:02:58,960 --> 02:03:02,700 | does it at all, you go back through the price action, and you study what was |
| 1480 | 02:03:02,700 --> 02:03:07,740 | there, and you pull out the points that you understand about what it is. I teach |
| 1481 | 02:03:07,980 --> 02:03:12,660 | breakers, fair value gaps, institutional order, flow, entry, drills, inversion, |
| 1482 | 02:03:12,660 --> 02:03:19,320 | fair value gaps, mitigation blocks in the whole the whole thing, everything |
| 1483 | 02:03:19,320 --> 02:03:23,600 | that you understand about it. And when you do that, and you're identifying |
| 1484 | 02:03:23,600 --> 02:03:27,440 | every single one of that you can see, in hindsight, what will happen is, is, |
| 1485 | 02:03:27,860 --> 02:03:31,400 | because you're collecting these screenshots and you're, you're you're |
| 1486 | 02:03:31,820 --> 02:03:37,400 | expressing your observations in your journal, what will happen is your eye |
| 1487 | 02:03:37,400 --> 02:03:43,840 | will start resonating with one particular entry model. What is an entry |
| 1488 | 02:03:43,840 --> 02:03:48,100 | model? If you think the price is going to go lower, what is the catalyst that |
| 1489 | 02:03:48,100 --> 02:03:51,460 | puts you in your trade? That's your multiplier. That's the thing you're |
| 1490 | 02:03:51,460 --> 02:03:56,380 | betting on panning out and based on where you're trying to get in at versus |
| 1491 | 02:03:56,380 --> 02:04:01,140 | where the stop loss should be relative to that trade idea you're trying to make |
| 1492 | 02:04:01,140 --> 02:04:08,460 | a multiple greater than one, okay, of whatever you're risking, and it need not |
| 1493 | 02:04:08,460 --> 02:04:12,900 | be exorbitant. You don't need to have two to one, you don't need to have three |
| 1494 | 02:04:12,900 --> 02:04:15,720 | to one, you don't need to have four to one, you don't have five to one. You |
| 1495 | 02:04:15,720 --> 02:04:20,300 | just need to be able to see and anticipate fluctuations in price that |
| 1496 | 02:04:20,300 --> 02:04:24,440 | are reasonable, and it gives you something to study, because the first |
| 1497 | 02:04:24,440 --> 02:04:28,700 | lesson you need to know is how you're going to interact with that. Soon as it |
| 1498 | 02:04:28,700 --> 02:04:32,240 | starts moving and it starts being quick about it even only moves 10 handles, |
| 1499 | 02:04:32,240 --> 02:04:35,120 | you're going to have a surge of adrenaline. And you're not even in a |
| 1500 | 02:04:35,120 --> 02:04:38,540 | real trade. It's a demo trade, but because you're seeing something that you |
| 1501 | 02:04:38,540 --> 02:04:43,000 | anticipated and starts to run in your favor. That sense of accomplishment and |
| 1502 | 02:04:43,000 --> 02:04:47,200 | satisfaction is very, very addictive, which is the reason why you go in and |
| 1503 | 02:04:47,200 --> 02:04:48,940 | you push another bump on demo, oh, trade. That |
| 1504 | 02:04:48,940 --> 02:04:52,180 | felt good. Let me do it again. Let me do it again, like someone's scratching your |
| 1505 | 02:04:52,180 --> 02:04:55,720 | back. Okay, we're doing something else for you. You don't want to find your |
| 1506 | 02:04:55,720 --> 02:05:02,280 | happy endings by over trading that that's not good. It Okay, your happy |
| 1507 | 02:05:02,280 --> 02:05:06,960 | ending comes by doing very little and being content with that. That's the |
| 1508 | 02:05:06,960 --> 02:05:12,420 | secret sauce in trading doing very little and being content with it, |
| 1509 | 02:05:13,380 --> 02:05:21,260 | everybody else, everybody else. And I was like this before too, you get a win, |
| 1510 | 02:05:21,320 --> 02:05:24,800 | or you make money, or do something right, and that sense of accomplishment, |
| 1511 | 02:05:25,880 --> 02:05:31,400 | nobody else feels it because it's it's in your skin that you're experiencing |
| 1512 | 02:05:31,400 --> 02:05:36,680 | it. And showing somebody a chart, or showing someone the the move, even if |
| 1513 | 02:05:36,680 --> 02:05:40,360 | you recorded it, sure other traders can look at that nod and think, yeah, that |
| 1514 | 02:05:40,360 --> 02:05:43,900 | was pretty good, that even if they told you you're the goat, it still isn't |
| 1515 | 02:05:43,900 --> 02:05:49,900 | going to satisfy you, because you want them to feel that elation, that orgasmic |
| 1516 | 02:05:49,900 --> 02:05:55,120 | experience that you felt because you saw it coming, you executed on it, and then |
| 1517 | 02:05:55,120 --> 02:06:00,580 | it panned out in your favor, and it delivered with fierce momentum, like It |
| 1518 | 02:06:00,580 --> 02:06:03,300 | was real quick and sudden. It was immediate response. Immediate response, |
| 1519 | 02:06:03,420 --> 02:06:06,660 | like it listened to you. It's what it feels like it listened to you, like you |
| 1520 | 02:06:06,660 --> 02:06:11,940 | had to own a leash. You need to quell that. Okay, you need to quell that |
| 1521 | 02:06:11,940 --> 02:06:18,120 | because nobody else is going to feel it like you want them to, and you're going |
| 1522 | 02:06:18,120 --> 02:06:25,220 | to be in a pursuit that always seeks outward confirmation. And by you doing |
| 1523 | 02:06:25,220 --> 02:06:28,880 | everything in your journal, and you being an island unto yourself, that |
| 1524 | 02:06:28,880 --> 02:06:33,320 | means everything you do, you're in charge of this corporation, this |
| 1525 | 02:06:33,320 --> 02:06:37,640 | enterprises you're creating. You're the CEO, you're the CFO, you're the |
| 1526 | 02:06:37,640 --> 02:06:43,180 | employee, you're the gender. You got to take the trash out. You see it, and |
| 1527 | 02:06:43,180 --> 02:06:48,220 | sometimes it's going to stink. You got to clean the toilets. You made that |
| 1528 | 02:06:48,220 --> 02:06:55,720 | mess. So it goes without saying that you should be focused on trying to keep |
| 1529 | 02:06:55,840 --> 02:07:02,400 | everything positive, filtering out negativity, and also managing your |
| 1530 | 02:07:02,520 --> 02:07:06,960 | exuberance, because you don't want it to be a sugar high all the time. Because |
| 1531 | 02:07:06,960 --> 02:07:11,220 | just like fear can paralyze you and clouds your mind when you think you |
| 1532 | 02:07:11,220 --> 02:07:16,380 | can't do anything wrong, that's usually when you are going to fail your worst. |
| 1533 | 02:07:17,100 --> 02:07:20,780 | And like it says in the Bible, says, you know, Pride goeth before the fall. You |
| 1534 | 02:07:20,780 --> 02:07:25,340 | don't want to be so high and lofty about yourself in terms of your thoughts about |
| 1535 | 02:07:25,340 --> 02:07:29,960 | yourself, or your ability or your prowess at any time, no matter if you're |
| 1536 | 02:07:29,960 --> 02:07:34,100 | been doing it for 30 plus years, or if you just discover your own routine and |
| 1537 | 02:07:34,100 --> 02:07:38,960 | then now it's feels like a model that you can trust. You have to really keep |
| 1538 | 02:07:38,960 --> 02:07:44,080 | yourself protected from becoming emotionally stimulated by your ability. |
| 1539 | 02:07:44,920 --> 02:07:49,960 | And it needs to be boring. It needs to be monotonous. It needs to be like a |
| 1540 | 02:07:49,960 --> 02:07:54,940 | business. Yeah, sure, I'm going to do all this stuff, and that might yield me |
| 1541 | 02:07:55,360 --> 02:07:59,620 | X amount of dollars if I do it correctly. But you're not focused on |
| 1542 | 02:07:59,620 --> 02:08:06,240 | that, because in the beginning stages, you want this to be so routine and so |
| 1543 | 02:08:06,300 --> 02:08:12,180 | dry and boring. You can't be emotional about it. It's just making money or |
| 1544 | 02:08:12,240 --> 02:08:17,040 | managing losses. That's it. You have to reduce it to that. And that's what a |
| 1545 | 02:08:17,040 --> 02:08:21,320 | business does. They're they're not in the business of worrying about if |
| 1546 | 02:08:21,320 --> 02:08:25,700 | they're still going to be in business. They're not doing that. They made money |
| 1547 | 02:08:25,700 --> 02:08:29,420 | with a business model, and they stick to it. And what you're doing with this is |
| 1548 | 02:08:29,420 --> 02:08:33,920 | you're starting your own business model. Caleb, you have to think about it like |
| 1549 | 02:08:33,920 --> 02:08:39,260 | that. And everybody that you allow to influence you or have an interaction |
| 1550 | 02:08:39,260 --> 02:08:44,620 | with you, they're all going to tell you something that is ass backwards. You |
| 1551 | 02:08:44,620 --> 02:08:49,420 | know who I am. You see what I do. You see how we lived. You know everything |
| 1552 | 02:08:49,480 --> 02:08:54,700 | I'm your dad, everybody else's opinion and the horseshit head up, their ass |
| 1553 | 02:08:54,700 --> 02:09:00,220 | perspective. Everybody else is talking from ignorance. Okay, you see this? |
| 1554 | 02:09:00,220 --> 02:09:04,320 | You've watched it now. You were trying to get serious about it. You want to |
| 1555 | 02:09:04,320 --> 02:09:09,000 | learn how to do it correctly, like I promised you. You cannot go quickly |
| 1556 | 02:09:09,000 --> 02:09:13,200 | through this and it's going to seem boring. It's going to feel like I don't |
| 1557 | 02:09:13,200 --> 02:09:16,260 | want to do this part. I just want to get in there and push a button. If I'm |
| 1558 | 02:09:16,260 --> 02:09:19,320 | right, I'm right. If I'm wrong, I'm wrong. That's what a man thinks. That's |
| 1559 | 02:09:19,320 --> 02:09:23,540 | the bar. That's a barbarian or gladiator perspective, I need to learn by losing |
| 1560 | 02:09:23,540 --> 02:09:28,880 | real money or trading with real money. No, you don't you stupid asshole. That's |
| 1561 | 02:09:28,880 --> 02:09:34,640 | an asshole perspective. That's somebody that's a fucking idiot, that's someone |
| 1562 | 02:09:34,640 --> 02:09:41,200 | that's fucking clueless. And I promise you, I promise you, they are not making |
| 1563 | 02:09:41,200 --> 02:09:44,380 | money, and I'm talking about living on your ass, doing whatever the fuck you |
| 1564 | 02:09:44,380 --> 02:09:49,000 | want to do, kind of money. That's a mentorship that doesn't know shit |
| 1565 | 02:09:49,060 --> 02:09:53,500 | mentality. I had to learn how to trade with real money, even if it's a small |
| 1566 | 02:09:53,500 --> 02:10:02,520 | account. That's bullshit, that's bullshit, that's bullshit. It. And many |
| 1567 | 02:10:02,520 --> 02:10:06,360 | times it's coming from the mouths of people that don't prove they can do |
| 1568 | 02:10:06,420 --> 02:10:10,080 | anything. They may even get out there and call it before it happens, let alone |
| 1569 | 02:10:10,080 --> 02:10:17,160 | trade it with real money. So you have to guard your your mind from all these |
| 1570 | 02:10:17,160 --> 02:10:21,440 | other people, because these people, they want to they're going to want to use you |
| 1571 | 02:10:21,740 --> 02:10:26,480 | as a way of finding significance in themselves. I had to tell Cody, I had to |
| 1572 | 02:10:26,480 --> 02:10:33,380 | tell Cameron, I had to tell Caleb. I had to tell his youngest son what to do. I |
| 1573 | 02:10:33,380 --> 02:10:37,640 | had to coach him because ICT his dad was telling him wrong. I had to put him on |
| 1574 | 02:10:37,640 --> 02:10:41,800 | point. All of you assholes out there are just wanting to have that opportunity to |
| 1575 | 02:10:41,800 --> 02:10:46,180 | say something to him, like you somehow fixed him, or you gave him this little |
| 1576 | 02:10:46,180 --> 02:10:50,680 | edge and you out. You all know shit. You know nothing. You absolutely know |
| 1577 | 02:10:50,680 --> 02:10:56,260 | nothing. You have no accolades. But you want to feel significant, because you |
| 1578 | 02:10:56,260 --> 02:11:00,760 | want to feel like you did something you made an installment in ICT sun, and |
| 1579 | 02:11:01,300 --> 02:11:05,340 | that's what you have to guard yourself from on an individual basis, because |
| 1580 | 02:11:05,340 --> 02:11:08,760 | soon as you say you're trying to study what I teach, everybody's going to come |
| 1581 | 02:11:08,760 --> 02:11:15,180 | at you and tell you why you shouldn't do it. Or it's a complicated thing. No, |
| 1582 | 02:11:15,180 --> 02:11:19,920 | it's work. It's not an indicator. Push a button when it tells you here it's a buy |
| 1583 | 02:11:19,920 --> 02:11:23,600 | or sell when you don't know what the hell that was all that, what's the logic |
| 1584 | 02:11:23,600 --> 02:11:29,480 | behind that? Nobody will tell you, because to do that, they're getting into |
| 1585 | 02:11:29,480 --> 02:11:33,920 | a proprietary information that creates that black box scenario where it's a |
| 1586 | 02:11:33,920 --> 02:11:37,520 | flashing Lux algo that does this and does that. What's the, what's the |
| 1587 | 02:11:37,520 --> 02:11:42,100 | method, methodology behind it? And you're going to trust that, versus what |
| 1588 | 02:11:42,100 --> 02:11:47,200 | your own experience doing something based on time and experience and seeing |
| 1589 | 02:11:47,200 --> 02:11:52,840 | the fruits of it. The next four weeks or so, you have an experiment. It's very |
| 1590 | 02:11:52,840 --> 02:11:59,020 | easy, and you'll never have to waste any more time ever if it doesn't make sense |
| 1591 | 02:11:59,020 --> 02:12:04,560 | to you, if you can't see it. Don't ever expect to learn from me. Don't ever |
| 1592 | 02:12:04,560 --> 02:12:09,300 | watch my videos. And just for you, Caleb, just expect that you're going to |
| 1593 | 02:12:09,300 --> 02:12:15,360 | work the rest of your life. Because this is as simple as it gets. That's it. It's |
| 1594 | 02:12:15,540 --> 02:12:18,840 | either going to go up or it's going to go down. Why would it go up? It's going |
| 1595 | 02:12:18,840 --> 02:12:22,760 | to go towards relative equal highs, or it's going to go down to relative equal |
| 1596 | 02:12:22,760 --> 02:12:27,800 | lows. And if they're not obvious in the chart, what do you do? Well, you force a |
| 1597 | 02:12:27,800 --> 02:12:32,300 | trade. That's what you do. Shit. If you can afford 10 contracts or 15 contracts, |
| 1598 | 02:12:32,300 --> 02:12:39,620 | you do as much as you can. No, you don't do anything. You sit on your hands, turn |
| 1599 | 02:12:39,620 --> 02:12:44,200 | the charts off and say, Okay, this is not obvious. Today. It's not obvious. If |
| 1600 | 02:12:44,200 --> 02:12:50,680 | it's not obvious, why are you risking money? Casinos operate on the basis of |
| 1601 | 02:12:50,680 --> 02:12:54,640 | it's obvious that people are going to come there with money. It's obvious that |
| 1602 | 02:12:54,640 --> 02:13:00,660 | the the odds are stacked in their favor. It's obvious that people will not quit |
| 1603 | 02:13:00,660 --> 02:13:04,560 | when they're up, when they're in profit. They will not stop trading, or I'm |
| 1604 | 02:13:04,560 --> 02:13:11,760 | sorry, they will not they will not stop betting or gambling because the bug bit |
| 1605 | 02:13:11,760 --> 02:13:18,240 | them. Oh, man, I'm up $5,000 I only came here with 250 bucks. Gertrude, hey, |
| 1606 | 02:13:18,240 --> 02:13:22,040 | we're gonna have a steak dinner tonight, but I'm coming back down afterwards. I |
| 1607 | 02:13:22,040 --> 02:13:26,480 | feel like I'm gonna make a real big run. Yeah, you're gonna run, run home, |
| 1608 | 02:13:26,540 --> 02:13:31,520 | fucking broke, but you had a good steak dinner, if I would have just stopped |
| 1609 | 02:13:31,520 --> 02:13:31,940 | right |
| 1610 | 02:13:37,220 --> 02:13:43,900 | here. It's the same thing. You have to know when the odds are in your favor and |
| 1611 | 02:13:43,900 --> 02:13:51,580 | when it's so obvious, it's so easy. That's what I'm pointing out this stuff, |
| 1612 | 02:13:51,580 --> 02:13:56,080 | and I'm telling people, look at this. Look at that. Look at this. I'm not |
| 1613 | 02:13:56,080 --> 02:14:02,520 | every single day in Tanja livestream or in trades by Matt. I'm listening to both |
| 1614 | 02:14:02,520 --> 02:14:06,060 | of them. It's, it's like background noise until I hear something that's |
| 1615 | 02:14:06,060 --> 02:14:09,180 | either funny or something that gets my attention or whatever, or if I'm waiting |
| 1616 | 02:14:09,180 --> 02:14:14,640 | for a specific straight setup, I'll go to their chat, and I'll see if they're |
| 1617 | 02:14:14,640 --> 02:14:18,480 | in love with something that's opposed to what I'm doing. And then I'll use them |
| 1618 | 02:14:18,480 --> 02:14:24,380 | as sentiment, not them particular, the live streamers, but their audience that |
| 1619 | 02:14:24,380 --> 02:14:27,920 | they allow for their open discussion of what they think is going to happen, and |
| 1620 | 02:14:27,920 --> 02:14:31,280 | the more cheer leading they think, or the more back biting they think, for |
| 1621 | 02:14:31,280 --> 02:14:35,180 | someone else that has an opinion that we need, similar to mine, I am much more |
| 1622 | 02:14:35,180 --> 02:14:39,440 | emboldened by my trade idea because of that very thing. And I don't mean that |
| 1623 | 02:14:39,440 --> 02:14:44,740 | to be disrespectful, but I've taught this openly. You know, I use social |
| 1624 | 02:14:44,740 --> 02:14:49,960 | media as a sentiment Gage, and if I have a trade idea, or I expect the market to |
| 1625 | 02:14:49,960 --> 02:14:54,400 | draw to a specific level, and the general public that doesn't think like I |
| 1626 | 02:14:54,400 --> 02:15:00,600 | teach, they if they're diametrically opposed to that to me. I like, that's |
| 1627 | 02:15:00,600 --> 02:15:04,800 | the surest thing there is, like, I have no I have no doubts that it's going to |
| 1628 | 02:15:04,800 --> 02:15:09,120 | pan out then. And then what do I do? I share it publicly. I'll go into their |
| 1629 | 02:15:09,120 --> 02:15:12,900 | chat and I'll say, look at this, or note this. And then all of a sudden, the |
| 1630 | 02:15:12,900 --> 02:15:16,860 | people like, oh, look, it's ICTs here. And then the people that are not looking |
| 1631 | 02:15:16,860 --> 02:15:19,800 | at me like a celebrity, and they're like, Okay, he just co signed. Let's |
| 1632 | 02:15:19,800 --> 02:15:22,460 | watch and see if it goes there. And they're like, Damn, he just did it |
| 1633 | 02:15:22,460 --> 02:15:27,200 | again. Their their mind. They got the they understand the plan. They |
| 1634 | 02:15:27,200 --> 02:15:32,120 | understood the assignment. Oh. ICT, just tipped his hand. This is where it's |
| 1635 | 02:15:32,120 --> 02:15:37,400 | going, guys. But everybody else is talking to me, like, hey, ICT, how you |
| 1636 | 02:15:37,400 --> 02:15:41,260 | doing? Hey. ICT, how you feeling, how Hey, ICT, how you doing on the Robins |
| 1637 | 02:15:41,260 --> 02:15:44,560 | cup? Hey, ICT, remember that guy that said this about you? Blah, blah, blah. |
| 1638 | 02:15:44,560 --> 02:15:50,560 | We saw some really interesting things about him. All that stuff is not minding |
| 1639 | 02:15:50,560 --> 02:15:57,160 | your own business, all that chat, that chatter, that's all wasted time. I'm not |
| 1640 | 02:15:57,160 --> 02:16:01,140 | reading everybody's comment. I don't have time for that. I'm looking for |
| 1641 | 02:16:01,140 --> 02:16:06,960 | keywords. If I'm bearish, I want people to talk about being bullish. I'm going |
| 1642 | 02:16:06,960 --> 02:16:14,880 | long, or I'm long this man. I love that. I love that. But if I have a trade idea |
| 1643 | 02:16:14,940 --> 02:16:19,620 | that I'm not all that terribly excited about, where I think it's it's still in |
| 1644 | 02:16:19,620 --> 02:16:27,860 | the early stages of developing, and I see so much chatter that's very similar |
| 1645 | 02:16:27,860 --> 02:16:32,840 | to what I'm expecting. I'm not taking that trade. What? Yeah, I'm not taking |
| 1646 | 02:16:32,840 --> 02:16:36,020 | that trade because if the street money is in alignment with what I'm thinking, |
| 1647 | 02:16:36,020 --> 02:16:42,040 | and it's already a lukewarm idea, anyway, I'm gonna side on the fact that |
| 1648 | 02:16:42,040 --> 02:16:46,660 | I'm probably wrong. I'll just stand out. And there's a few times, and it's not |
| 1649 | 02:16:46,660 --> 02:16:50,680 | many, but it's a few times where I stayed out because of that and it ran |
| 1650 | 02:16:50,680 --> 02:16:56,800 | without me. And that's okay. I can sleep good with that. What I don't like is if |
| 1651 | 02:16:56,800 --> 02:17:01,620 | I use them as opposing sentiment, and it's not just these two live streams. |
| 1652 | 02:17:01,620 --> 02:17:04,680 | Don't think I'm ganging up on them. I have respect for both of them. I've |
| 1653 | 02:17:04,680 --> 02:17:08,520 | pushed both their channels. I think they have the Moxie that stand out there in |
| 1654 | 02:17:08,520 --> 02:17:11,460 | front of people. They push the button in front of people. They tell you what |
| 1655 | 02:17:11,460 --> 02:17:19,560 | their opinions are. You know, it's to me, it's incredible to do because I |
| 1656 | 02:17:19,560 --> 02:17:24,260 | personally would not do that. I wouldn't do it. Frankly, none of you deserve it, |
| 1657 | 02:17:24,260 --> 02:17:29,300 | too. It's just not in my character to do it, because I will think about if I'm |
| 1658 | 02:17:29,300 --> 02:17:32,840 | wrong, say I'm wrong on this trade. I knew people were putting money behind |
| 1659 | 02:17:32,840 --> 02:17:35,960 | it, and if I lose, they lost, and I'm going to worry about their money, not |
| 1660 | 02:17:35,960 --> 02:17:43,180 | mine. Who's in charge of the trade? My emotions. So I can't I can't function |
| 1661 | 02:17:43,180 --> 02:17:46,900 | that way. It's not that I can't trade. It's just I can't trade with that type |
| 1662 | 02:17:46,900 --> 02:17:51,700 | of pressure, where, if I'm wrong and I can take that loss, you might not be in |
| 1663 | 02:17:51,700 --> 02:17:54,580 | a situation where you can and you probably over leveraged your funded |
| 1664 | 02:17:54,580 --> 02:17:59,140 | account hoping to get your thing passed in one day, because I took a trade that |
| 1665 | 02:17:59,140 --> 02:18:03,540 | made made it public. So I worry about those types of things. I don't want that |
| 1666 | 02:18:03,540 --> 02:18:06,840 | problem of having to worry about that when I put a trade on, I don't care it's |
| 1667 | 02:18:07,200 --> 02:18:12,060 | either going to work or it's not, and I'm devoid of any emotion about it. But |
| 1668 | 02:18:12,060 --> 02:18:16,380 | if I have other people that can cook, you know, cocktail, I don't want that |
| 1669 | 02:18:16,380 --> 02:18:22,940 | because it becomes a burdensome thing for me. So I say that because I I know |
| 1670 | 02:18:22,940 --> 02:18:27,740 | Caleb wants to potentially grow a channel into something like what I've |
| 1671 | 02:18:27,740 --> 02:18:33,380 | done with mine. And I'm not trying to talk him out of that, but I did very, |
| 1672 | 02:18:33,380 --> 02:18:41,800 | very vocally tell him that you have to be content with enough, you know, if, if |
| 1673 | 02:18:41,800 --> 02:18:46,360 | he gets his rent paid, or half his rent paid with whatever the channel does |
| 1674 | 02:18:46,360 --> 02:18:49,900 | while he's learning that's a huge advantage, and that's going to be an |
| 1675 | 02:18:49,900 --> 02:18:54,460 | encouragement for trying to study more to get good at doing this better and |
| 1676 | 02:18:54,460 --> 02:18:58,420 | eventually replacing his income at his job. Because that's the that's the main |
| 1677 | 02:18:58,480 --> 02:19:03,180 | goal right now, is to match what he earns at his job, and then the next goal |
| 1678 | 02:19:03,180 --> 02:19:07,800 | was to double that. And then after he can double that consistently, then he |
| 1679 | 02:19:07,800 --> 02:19:12,360 | has to do two years of saving with whatever he earns on that channel, and |
| 1680 | 02:19:12,360 --> 02:19:16,200 | what he earns in trading and what he can save at his job. Once he has two years |
| 1681 | 02:19:16,200 --> 02:19:20,720 | of that salary, then he has my blessing that he can quit his job. But prior to |
| 1682 | 02:19:20,720 --> 02:19:24,380 | that, he can't, there's no discussion. And if he tries to do it sooner than |
| 1683 | 02:19:24,380 --> 02:19:28,520 | that, I'm not going to help him, because it's irresponsible. You're setting |
| 1684 | 02:19:28,520 --> 02:19:32,600 | yourself up for failure if you do it any other way. And there's nothing different |
| 1685 | 02:19:32,600 --> 02:19:35,600 | from what I just said, from what I've said in the past about when you want to |
| 1686 | 02:19:35,600 --> 02:19:40,900 | quit and trade full time, because unless you have two years of salary, and you've |
| 1687 | 02:19:40,900 --> 02:19:47,140 | had consistently being able to double your income with your trades, you have |
| 1688 | 02:19:47,140 --> 02:19:50,680 | no business thinking about quitting your job. And I know a lot of people want to |
| 1689 | 02:19:50,680 --> 02:19:55,360 | do that, because you know that's the life, but you don't realize when you |
| 1690 | 02:19:55,360 --> 02:20:02,160 | quit your job, you've made trading harder. You. Made it harder, because now |
| 1691 | 02:20:02,160 --> 02:20:07,140 | you have to eat on your results, and that, my friends, is very, very |
| 1692 | 02:20:07,140 --> 02:20:11,340 | difficult unless you know exactly what you're doing. That means knowing when |
| 1693 | 02:20:11,340 --> 02:20:16,020 | not to do something and when to do it and when to push it real hard, because |
| 1694 | 02:20:17,040 --> 02:20:22,220 | that circumstance, that environment you're inside of right now, it's really |
| 1695 | 02:20:22,220 --> 02:20:28,940 | ripe to really be milked and just take it to the limits. But sometimes, when |
| 1696 | 02:20:28,940 --> 02:20:32,420 | we're brand new and we're overzealous about getting in there just to make |
| 1697 | 02:20:32,420 --> 02:20:36,860 | money, you think that social media influencers, and I'm guilty of this, |
| 1698 | 02:20:36,860 --> 02:20:41,320 | because I can talk somebody into doing something very easily because of the |
| 1699 | 02:20:41,320 --> 02:20:46,780 | hype that I place around the things that I promote. All my stuff is badass shit, |
| 1700 | 02:20:46,780 --> 02:20:51,760 | like it's it's top tier stuff. There's nothing like it. And when you see it |
| 1701 | 02:20:51,760 --> 02:20:57,400 | being implemented and explained and it happens, it doesn't do anything except |
| 1702 | 02:20:57,400 --> 02:21:00,220 | for get you, like, hopped up on goofballs you really want to run through |
| 1703 | 02:21:00,220 --> 02:21:02,760 | a wall. You're like, I'm ready to do this right now. I ain't got time for |
| 1704 | 02:21:02,760 --> 02:21:07,140 | this. ICD. I need to make my bread right now. So the next live stream, whatever |
| 1705 | 02:21:07,140 --> 02:21:10,020 | you say, is going to happen next time I'm putting money on that one. And if |
| 1706 | 02:21:10,020 --> 02:21:16,380 | you do that, you're an idiot, because you're going to feel emotions, physical |
| 1707 | 02:21:16,380 --> 02:21:20,460 | stimuli in your body. You're going to feel adrenaline, and that's going to |
| 1708 | 02:21:20,460 --> 02:21:25,160 | increase your heart rate, and then you'll start feeling that rush. And then |
| 1709 | 02:21:25,160 --> 02:21:30,200 | you might think about, oh, man, my hands are tingling. I feel a little excited to |
| 1710 | 02:21:30,200 --> 02:21:34,880 | feel like I'm seeing stars. And that's cortisol, and that's the stress hormone, |
| 1711 | 02:21:35,000 --> 02:21:38,960 | which literally will tear you down. You keep doing that, and then you're going |
| 1712 | 02:21:38,960 --> 02:21:42,400 | to start worrying about what you feel like, versus what's the price action |
| 1713 | 02:21:42,400 --> 02:21:46,780 | doing right now and then? I gotta walk away from the charts. I gotta, I gotta |
| 1714 | 02:21:46,780 --> 02:21:50,200 | just take a walk real quick. If you smoke, what you shouldn't do. I gotta go |
| 1715 | 02:21:50,200 --> 02:21:54,040 | get a smoke. I gotta go vape and stick the shit in my head and puff on that. |
| 1716 | 02:21:54,040 --> 02:22:02,460 | Are you in control yourself? No. Are you in control your trade? No. Are you |
| 1717 | 02:22:02,460 --> 02:22:09,360 | managing everything soberly? No, but you're trying to make money, and it's |
| 1718 | 02:22:09,360 --> 02:22:17,340 | all the wrong way. That's all the wrong way when you feel like you have lost the |
| 1719 | 02:22:17,340 --> 02:22:25,220 | plot and or you can't see it, son, don't feel obligated to tell me what you |
| 1720 | 02:22:25,220 --> 02:22:31,220 | think's going to happen. Be comfortable saying I don't know today or right now, |
| 1721 | 02:22:31,220 --> 02:22:37,760 | I don't know, and there's nothing to be ashamed of in there. I'll be more proud |
| 1722 | 02:22:37,760 --> 02:22:41,980 | of seeing you do that than trying to tell me what I know with experience, |
| 1723 | 02:22:42,220 --> 02:22:46,120 | this is dog shit. It's not going to do anything. It's it's this going to be a |
| 1724 | 02:22:46,120 --> 02:22:49,780 | mess, it's going to be unorganized, and it's going to do a whole lot of |
| 1725 | 02:22:49,780 --> 02:22:54,520 | unfulfilled delivery of price. That means it's chopping around and moving |
| 1726 | 02:22:54,520 --> 02:23:01,320 | around without any real rhyme or reason, because it can stay in a range, a |
| 1727 | 02:23:01,320 --> 02:23:05,520 | defined range, and do nothing extra outside of that. And I don't want to be |
| 1728 | 02:23:05,520 --> 02:23:11,940 | involved in an opportunity like that. I want to have where it's easy to run to a |
| 1729 | 02:23:11,940 --> 02:23:17,160 | range low. What range is that? Well, it could be the range of the seven o'clock |
| 1730 | 02:23:17,160 --> 02:23:20,540 | to eight o'clock hour. It could be the range of whatever the highest high in |
| 1731 | 02:23:20,540 --> 02:23:23,720 | the lowest low since nine o'clock or at the opening at 930 |
| 1732 | 02:23:25,340 --> 02:23:29,660 | all these ranges have the potential for you to have your own unique model, and |
| 1733 | 02:23:29,660 --> 02:23:33,980 | once it trades to them, you get out. You're not trying to get 100 handles |
| 1734 | 02:23:33,980 --> 02:23:37,220 | every day, but some of you think that's what you should be doing. I gotta make |
| 1735 | 02:23:37,220 --> 02:23:43,960 | 200 handles a week or I'm not killing it, really. I have students that have |
| 1736 | 02:23:44,260 --> 02:23:48,640 | one contract trades. They never do more than one contract, and they're doing |
| 1737 | 02:23:48,640 --> 02:23:58,960 | $20,000 a month, month after month after month after month. And they still keep |
| 1738 | 02:23:58,960 --> 02:24:03,360 | their job, they still have their insurance. They're not trying to impress |
| 1739 | 02:24:03,360 --> 02:24:07,080 | me with I'm trading two contracts now. They're like, I don't need to change |
| 1740 | 02:24:07,080 --> 02:24:12,840 | anything. This is good. You know what that is? That's maturity. And I fucking |
| 1741 | 02:24:12,840 --> 02:24:19,560 | love that. I love that because that's someone that listened, that's someone |
| 1742 | 02:24:19,560 --> 02:24:24,500 | that did the personal inventory on how they interact. How do they engage price |
| 1743 | 02:24:24,500 --> 02:24:31,460 | action? How do they work within the strengths of being in a state of not |
| 1744 | 02:24:31,460 --> 02:24:35,480 | knowing for sure what's going to happen, managing themselves, following the |
| 1745 | 02:24:35,480 --> 02:24:39,440 | processes and protocols and just submitting themselves to the process and |
| 1746 | 02:24:39,440 --> 02:24:44,440 | being content with enough 20 grand a month. Do you earn that at your job? |
| 1747 | 02:24:45,580 --> 02:24:52,180 | Chances are no you don't. I promise you, most trading influencers on social media |
| 1748 | 02:24:52,420 --> 02:24:54,220 | don't make that in their trades. Mm, hmm. |
| 1749 | 02:25:01,260 --> 02:25:04,560 | And I'm certain she could do a whole lot more. Oh, I shouldn't have said that. |
| 1750 | 02:25:04,560 --> 02:25:09,540 | Well, they can do a whole lot more than that. I'm convinced that they could, |
| 1751 | 02:25:09,780 --> 02:25:14,880 | because they only take one set up a day. They have a one trick pony mindset. |
| 1752 | 02:25:14,880 --> 02:25:19,380 | They're not trying to bring every ICT bell in West Linda the conversation. |
| 1753 | 02:25:19,920 --> 02:25:23,300 | They wait for one simple little thing, and when it happens, they take the |
| 1754 | 02:25:23,300 --> 02:25:27,320 | trade, they have their stop loss, it's reasonable all the time, and then bang, |
| 1755 | 02:25:27,980 --> 02:25:32,240 | once it trades to a high or a low that they know liquidity is resting at, |
| 1756 | 02:25:32,480 --> 02:25:36,200 | they're done for the day, and it doesn't matter to them when it has these big |
| 1757 | 02:25:36,200 --> 02:25:43,060 | Range Days. How about having something like that as a mindset initially, not |
| 1758 | 02:25:43,060 --> 02:25:46,900 | that you have to aim for $20,000 or you're not successful. If you just make |
| 1759 | 02:25:46,900 --> 02:25:53,200 | one quarter of your income a week and you lose four times out of five trades, |
| 1760 | 02:25:53,260 --> 02:25:58,600 | but you were still able to net that is, that is that failure? Some of you on |
| 1761 | 02:25:58,600 --> 02:26:03,360 | social media would see that that's that's failure. It's not. When you are |
| 1762 | 02:26:03,360 --> 02:26:09,420 | brand new. You better expect to have those types of results as a first rung |
| 1763 | 02:26:09,480 --> 02:26:13,200 | objective or goal, because you're going to flounder in the beginning. You're |
| 1764 | 02:26:13,200 --> 02:26:17,520 | going to feel like you don't have what it takes. And you're going to look at |
| 1765 | 02:26:17,520 --> 02:26:22,160 | days where it's challenging technically. You know, there's days where the market |
| 1766 | 02:26:22,160 --> 02:26:25,340 | may appear it's going to do so, so obvious, it's going to go here or go |
| 1767 | 02:26:25,340 --> 02:26:32,180 | there, and I'll get tripped up in that I'm human. I might come into it with a |
| 1768 | 02:26:32,180 --> 02:26:35,000 | case of the ass. I'm mad about something to happen. A guy cut me off the other |
| 1769 | 02:26:35,000 --> 02:26:39,320 | day on the road, and I'm still pissed off about it. You know, I'm trying to |
| 1770 | 02:26:39,320 --> 02:26:43,540 | exact revenge on this guy. I'll show him. He doesn't even think about an |
| 1771 | 02:26:43,540 --> 02:26:47,680 | email. And that's what we do as humans. We bring in all of our mental baggage, |
| 1772 | 02:26:48,040 --> 02:26:52,540 | and we want to have a triumph that reminds us that we're we're more than |
| 1773 | 02:26:52,540 --> 02:26:56,500 | what everybody else thinks of us or what we think of ourselves the previous day. |
| 1774 | 02:26:56,500 --> 02:27:02,340 | What do you think it's doing here? Just like we had over here, we had a |
| 1775 | 02:27:02,340 --> 02:27:07,380 | disruption. We have a disruption down here. So where's their relative equal |
| 1776 | 02:27:07,380 --> 02:27:16,020 | highs here and here. So what are we looking for? We want to see if it can |
| 1777 | 02:27:16,320 --> 02:27:21,200 | muster the ability to poke its head above high of a day over here. I |
| 1778 | 02:27:28,160 --> 02:27:32,600 | hate when it does that always jumps last second later, adjusted. |
| 1779 | 02:27:37,940 --> 02:27:43,720 | So we have inefficiency here. This could be an immediate rebalance. Immediate |
| 1780 | 02:27:43,720 --> 02:27:48,460 | rebalance is when you have a extended range, or a candle that goes up and then |
| 1781 | 02:27:48,460 --> 02:27:53,620 | it drops back down and just touches the candle high and then starts to run to an |
| 1782 | 02:27:53,620 --> 02:27:57,220 | objective or liquidity, or an efficiency, something like that. We all, |
| 1783 | 02:27:57,220 --> 02:28:03,600 | we also, we also have this fair value gap here, in this case, I'd like to see |
| 1784 | 02:28:03,600 --> 02:28:08,280 | this fair value gap stay open, not traded entirely down into that candles |
| 1785 | 02:28:08,280 --> 02:28:12,660 | high, and then reach out here. So these are all little drills and exercises you |
| 1786 | 02:28:12,660 --> 02:28:17,280 | can do that will eventually lead to trade entries and trade stop placement |
| 1787 | 02:28:17,280 --> 02:28:22,400 | and management. But more specifically, it teaches you expectation, anticipatory |
| 1788 | 02:28:22,400 --> 02:28:28,640 | price reading, where you you study charts real time, and you're watching |
| 1789 | 02:28:28,640 --> 02:28:31,580 | price. It has to be on a real time basis. It can't be a market replay, |
| 1790 | 02:28:31,580 --> 02:28:36,200 | because Market Replay is like, stilted. It's like wooden. It's stunted. It |
| 1791 | 02:28:36,200 --> 02:28:41,320 | doesn't have the fluidity that a real time candlestick has. Where you see the |
| 1792 | 02:28:41,320 --> 02:28:45,400 | candle, like, for instance, is your one minute candlesticks, so they can be seen |
| 1793 | 02:28:45,400 --> 02:28:48,760 | where, at one time it could be looking very much like it's going to be a down |
| 1794 | 02:28:48,760 --> 02:28:53,020 | close candle, and all of a sudden it flips and goes the other direction. |
| 1795 | 02:28:53,500 --> 02:28:57,700 | That's a dynamic, fluid environment. You want to be able to see price action if |
| 1796 | 02:28:57,700 --> 02:29:02,160 | you think you're going to trade well and consistently without having that |
| 1797 | 02:29:02,220 --> 02:29:08,520 | exposure to price, like you can't skip that part and be good. I promise you it |
| 1798 | 02:29:08,520 --> 02:29:14,160 | doesn't. It doesn't work. Nobody ever gets consistently profitable without |
| 1799 | 02:29:14,160 --> 02:29:19,740 | doing some measure of forward testing and back testing. It may be miniscule |
| 1800 | 02:29:19,740 --> 02:29:25,520 | for some that are very, very gifted, but it's usually failure without doing it. |
| 1801 | 02:29:25,940 --> 02:29:30,800 | And when you start understanding the things that I'm outlining, you'll see |
| 1802 | 02:29:30,800 --> 02:29:33,800 | that there's plenty of opportunities. There's so many opportunities that are |
| 1803 | 02:29:33,800 --> 02:29:40,040 | there all day long. But because you have painted yourself into a corner, you |
| 1804 | 02:29:40,040 --> 02:29:44,200 | think that there's no way that I'm going to be profitable unless I get the big |
| 1805 | 02:29:44,200 --> 02:29:48,460 | run of the day, so I'm going to start hunting just for the big run of the day, |
| 1806 | 02:29:48,880 --> 02:29:53,500 | and you might miss the ideal entry point, which that gives me, I guess, the |
| 1807 | 02:29:53,500 --> 02:29:56,920 | perfect opportunity to use that 15 second chart. Because you were thinking |
| 1808 | 02:29:56,920 --> 02:30:00,720 | earlier when I said we're going to say this and quit. You. Because this is |
| 1809 | 02:30:00,720 --> 02:30:05,520 | supposed to be a short one, right? I'll use this as an opportunity to go into |
| 1810 | 02:30:05,520 --> 02:30:09,000 | the 15 second chart in a second. I promise. I won't close the live stream |
| 1811 | 02:30:09,000 --> 02:30:14,100 | until I do that part, because I did mention it earlier. But one of the key |
| 1812 | 02:30:14,100 --> 02:30:19,320 | takeaways by doing this mentorship with you is I'm teaching you son to look at |
| 1813 | 02:30:19,320 --> 02:30:27,260 | price with these little, tiny, little pieces of repeating phenomena, and they |
| 1814 | 02:30:27,260 --> 02:30:32,840 | happen at specific times of the day. They happen at a measure of frequency |
| 1815 | 02:30:32,840 --> 02:30:37,940 | that is sustainable. It is going to repeat weeks and months and years in |
| 1816 | 02:30:37,940 --> 02:30:42,520 | advance. As long as there's a market, these things will manifest. They will |
| 1817 | 02:30:42,700 --> 02:30:47,440 | they will repeat over and over and over again. All of them will not be |
| 1818 | 02:30:47,440 --> 02:30:54,640 | profitable. The majority of them tend to be okay. So I'm setting your |
| 1819 | 02:30:54,640 --> 02:31:00,900 | expectations and trying to calibrate your your well expectations to a degree |
| 1820 | 02:31:00,900 --> 02:31:06,240 | that you should not be expecting perfection. Okay, that's something that |
| 1821 | 02:31:06,240 --> 02:31:11,100 | should be first and foremost. Don't expect perfection. Don't expect |
| 1822 | 02:31:11,100 --> 02:31:16,980 | everything that you do to be without pain. It's going to be hard, especially |
| 1823 | 02:31:16,980 --> 02:31:21,000 | in the beginning, where you feel like, you know, I have the best of the best. |
| 1824 | 02:31:21,000 --> 02:31:25,700 | Dads give me the best of the best. So therefore I should have no expectations |
| 1825 | 02:31:25,700 --> 02:31:32,720 | for adversity. It's going to be really, really hard, because you don't know the |
| 1826 | 02:31:32,720 --> 02:31:36,320 | outcome. And as much as you might want to dismiss it psychologically and say, I |
| 1827 | 02:31:36,320 --> 02:31:42,820 | have, I have the best of the best, you still have to endure the waiting of this |
| 1828 | 02:31:42,880 --> 02:31:47,560 | to pan out, and you still have to go through the process of developing, like |
| 1829 | 02:31:47,560 --> 02:31:51,880 | the rest of my students, there's nothing that you're going to be subjected to |
| 1830 | 02:31:51,880 --> 02:31:55,900 | that puts you at the front of the line. There's no shortcuts around this part. |
| 1831 | 02:31:56,200 --> 02:32:00,840 | This is the stuff that every single profitable trader does, and this is what |
| 1832 | 02:32:00,840 --> 02:32:04,260 | they do to make that money. They got to be in front of the charts. They had to |
| 1833 | 02:32:04,260 --> 02:32:08,760 | submit themselves to the idea when they co sign and say, Okay, I'm going to |
| 1834 | 02:32:08,760 --> 02:32:12,840 | assume a trade and take on that responsibility and risk. They have to |
| 1835 | 02:32:13,680 --> 02:32:20,180 | agree on if they are wrong, this is what they have to lose. And why compound that |
| 1836 | 02:32:20,180 --> 02:32:25,580 | by saying I'm taking a trade into the ether, saying I'm going long or I'm |
| 1837 | 02:32:25,580 --> 02:32:30,140 | going short, and this is where my stop loss is, for the sake of being able to |
| 1838 | 02:32:30,140 --> 02:32:35,540 | say you did it when you don't know what you're doing yet, or even when you first |
| 1839 | 02:32:35,540 --> 02:32:40,300 | find profitability, young men tend to want to do that, because it's Like the |
| 1840 | 02:32:40,300 --> 02:32:45,400 | gladiator scenario, where they want to do something to impress everyone, making |
| 1841 | 02:32:45,400 --> 02:32:49,960 | money, it wasn't enough for them. Being profitable wasn't enough for them. They |
| 1842 | 02:32:49,960 --> 02:32:56,740 | want to be lifted up on a pedestal and say, You are a goat, and that's a sign |
| 1843 | 02:32:56,800 --> 02:33:04,200 | and character flaw that is synonymous with men, usually young men, and I don't |
| 1844 | 02:33:04,200 --> 02:33:08,100 | want you to grow into that. I want you to be humble. I want you to be modest. I |
| 1845 | 02:33:08,100 --> 02:33:11,340 | want you to feel like you're you're blessed if God gives you your |
| 1846 | 02:33:11,340 --> 02:33:16,800 | understanding to this, and I'm praying that he gives it to you when this is |
| 1847 | 02:33:17,340 --> 02:33:21,500 | something that you can do on a consistent basis, you shouldn't go |
| 1848 | 02:33:21,500 --> 02:33:24,680 | around like a sharp stick and beat everybody over the head and say, you |
| 1849 | 02:33:24,680 --> 02:33:30,740 | know you're inferior, because this is what I'm my pedigree is this, and I can |
| 1850 | 02:33:30,740 --> 02:33:35,900 | do this because I learned this way of doing it. Number one, it's ugly. I won't |
| 1851 | 02:33:36,080 --> 02:33:40,360 | be proud of you for doing that. I don't think you would do that. But I say that |
| 1852 | 02:33:40,360 --> 02:33:44,680 | because I know other people are listening and they might have that as an |
| 1853 | 02:33:44,680 --> 02:33:48,880 | aspiration for I want to do this because I want to be significant in the |
| 1854 | 02:33:48,880 --> 02:33:54,640 | industry. I want to make a name for myself for the sake of clout, and the |
| 1855 | 02:33:54,640 --> 02:34:02,220 | best measuring stick is being content with what you did, how you did it. You |
| 1856 | 02:34:02,220 --> 02:34:07,500 | didn't hurt anybody, you didn't belittle anybody, you didn't try to measure |
| 1857 | 02:34:07,500 --> 02:34:12,000 | yourself up against anyone else, and you don't concern yourself with those types |
| 1858 | 02:34:12,000 --> 02:34:18,120 | of things. When you trade and live your life like that, you will have no drama, |
| 1859 | 02:34:19,080 --> 02:34:23,180 | you'll have no spirit of competition that you have to live up to. You don't |
| 1860 | 02:34:23,180 --> 02:34:28,040 | owe anybody anything. You don't owe dad any explanations for how you're doing |
| 1861 | 02:34:28,040 --> 02:34:31,160 | it. You don't know anybody on social media an explanation of how you're |
| 1862 | 02:34:31,160 --> 02:34:36,380 | doing. You have no reason to give anybody a testimony or update of where |
| 1863 | 02:34:36,380 --> 02:34:42,460 | you are and how you're doing. But if you choose to do that, do it tactically. Do |
| 1864 | 02:34:42,460 --> 02:34:45,760 | it in a manner where it's disarming. You're not trying to make anybody else |
| 1865 | 02:34:45,760 --> 02:34:49,360 | feel like they're inferior. You're not looking at anyone trying to say, you |
| 1866 | 02:34:49,360 --> 02:34:53,500 | know, I'm better at you, I'm better at this than you, or I'm going to be faster |
| 1867 | 02:34:53,500 --> 02:34:56,980 | in profitability, because, as I know, I guarantee you, there's lots of students |
| 1868 | 02:34:56,980 --> 02:35:01,440 | out there right now that are going to try to race to. Consistently profitable |
| 1869 | 02:35:01,920 --> 02:35:08,160 | with you, and that's a that's a terrible, terrible thing to do, because |
| 1870 | 02:35:08,160 --> 02:35:14,040 | it's not a competition. You know, it may take you longer than you already think |
| 1871 | 02:35:14,040 --> 02:35:19,200 | it may take. And I want you to know, as your dad, it's okay. It's okay. There's |
| 1872 | 02:35:19,200 --> 02:35:23,900 | no rush. I'm not going to ever run out of interest in trying to help you. This |
| 1873 | 02:35:23,900 --> 02:35:28,640 | is what I've lived for. I've wanted you to do this. And here you go. It pans out |
| 1874 | 02:35:28,640 --> 02:35:35,180 | that was a immediate rebalance. Immediate rebalance is here, retreats |
| 1875 | 02:35:35,180 --> 02:35:39,560 | down, touches the candle, rallies up, and then we have a order block. It |
| 1876 | 02:35:39,560 --> 02:35:43,960 | trades down into that and then expands up to there. So if you did something |
| 1877 | 02:35:43,960 --> 02:35:45,040 | like that where, |
| 1878 | 02:35:50,080 --> 02:35:55,060 | I don't know now, I forgot where the candles because I was so interested in |
| 1879 | 02:35:55,060 --> 02:35:59,140 | talking, but nonetheless, it delivered where, where we thought it would go. I |
| 1880 | 02:35:59,140 --> 02:36:03,540 | said I wanted to see this stay open here, because that would act as a |
| 1881 | 02:36:03,540 --> 02:36:08,160 | breakaway gap. And then the Yeah, this should have been the immediate rebalance |
| 1882 | 02:36:08,160 --> 02:36:13,680 | there. And the next candle is it rallies up, and then it trick you back down into |
| 1883 | 02:36:14,160 --> 02:36:17,340 | this down close candle, which is an order block. It rallies up, it |
| 1884 | 02:36:17,340 --> 02:36:22,280 | completely closes in this inefficiency one more time, taps into it there, and |
| 1885 | 02:36:22,280 --> 02:36:25,940 | then finally reaches up. I would absolutely be done. I wouldn't touch |
| 1886 | 02:36:25,940 --> 02:36:29,900 | anything the rest of the day. There wouldn't be anything else I'd be |
| 1887 | 02:36:29,900 --> 02:36:32,900 | interested, and it could have all kinds of excitement right now. I wouldn't |
| 1888 | 02:36:32,900 --> 02:36:38,420 | touch anything more. Why? Because we have traded down. We had a disruption, |
| 1889 | 02:36:38,660 --> 02:36:43,420 | took out the sell side after we had a disruption here, and then we've come |
| 1890 | 02:36:43,420 --> 02:36:47,380 | back and touched the high of the day. So I wouldn't want to worry about trading |
| 1891 | 02:36:47,380 --> 02:36:50,980 | in the afternoon. I wouldn't worry about doing anything. I would be content with |
| 1892 | 02:36:50,980 --> 02:36:54,880 | whatever it is that you've done, whatever you've collected today in terms |
| 1893 | 02:36:54,880 --> 02:37:04,320 | of insight, experience, logging, encouragement, whatever that is, okay. |
| 1894 | 02:37:05,460 --> 02:37:10,140 | It would be content and left right where it is right now. But I want to drop down |
| 1895 | 02:37:10,140 --> 02:37:14,760 | into a 15 second and kind of tell you what I was talking about as we started |
| 1896 | 02:37:14,760 --> 02:37:21,740 | this live stream. Let me go down into the 15 second chart. |
| 1897 | 02:37:26,899 --> 02:37:38,059 | Let's highlight this first All right, and then we'll make that green so it's |
| 1898 | 02:37:38,239 --> 02:37:45,219 | it's highlighting. So here's the five minute price run in here. Okay, and this |
| 1899 | 02:37:45,219 --> 02:37:48,699 | is the immediate rebalance right there. So I'm going to draw a little line on |
| 1900 | 02:37:48,699 --> 02:37:58,659 | that. And as you see, everything I'm doing here, it's highlighting it. It's |
| 1901 | 02:37:58,659 --> 02:38:06,239 | highlighting it on the 15 second chart Okay, and now we can take our attention |
| 1902 | 02:38:06,239 --> 02:38:10,079 | over here. So I annotated everything that I was talking about and expecting |
| 1903 | 02:38:10,079 --> 02:38:14,159 | on the one minute chart. Real time with you, and now we're inside this price |
| 1904 | 02:38:14,159 --> 02:38:18,419 | run. So I'm going to talk about and what I mentioned to my private mentorship the |
| 1905 | 02:38:18,419 --> 02:38:25,339 | other day. This is the price delivery continuum theory, where you have an |
| 1906 | 02:38:25,339 --> 02:38:31,279 | expectation where price is going to gravitate to, and it gives you a |
| 1907 | 02:38:31,279 --> 02:38:36,559 | continuous opportunity for you to be a participant in it. Because the markets |
| 1908 | 02:38:36,559 --> 02:38:40,719 | are fractal, they're going to offer you setups on one time frame, and then that |
| 1909 | 02:38:40,719 --> 02:38:45,159 | time frame has, once it's expired, all of its opportunities. That's used for an |
| 1910 | 02:38:45,159 --> 02:38:50,439 | entry mechanism. You can't do anything else unless you're going to just chase |
| 1911 | 02:38:50,439 --> 02:38:53,979 | price. I don't chase price, okay? I'm going to show you how you can |
| 1912 | 02:38:53,979 --> 02:38:58,479 | effectively, efficiently use a 15 second chart. Should you ever want to do? So |
| 1913 | 02:38:58,899 --> 02:39:03,179 | you don't have to, okay, but you're going to find that it is very forgiving |
| 1914 | 02:39:03,899 --> 02:39:14,939 | for traders that have missed an ideal entry and or wants to. I'm going to say |
| 1915 | 02:39:14,939 --> 02:39:19,559 | this, but please do not take this as an invitation to start doing it yet, |
| 1916 | 02:39:19,619 --> 02:39:25,999 | because pyramiding and adding to a trade that's winning. That is very, very |
| 1917 | 02:39:25,999 --> 02:39:30,499 | challenging for me as a mentor to teach that, because I already know that you |
| 1918 | 02:39:30,499 --> 02:39:35,059 | want to do as much as you can to make money as fast as you can. You see all |
| 1919 | 02:39:35,059 --> 02:39:40,599 | these people out here to have 1516, 20 accounts, and they're doing lots of |
| 1920 | 02:39:40,599 --> 02:39:49,419 | withdrawals, pretty sizable withdrawals from from trading, all that, and it's |
| 1921 | 02:39:49,419 --> 02:39:54,039 | important for you to be comfortable being consistent with small trades in |
| 1922 | 02:39:54,039 --> 02:39:58,179 | the beginning, because if you can be consistent making small trades, you're |
| 1923 | 02:39:58,179 --> 02:40:06,539 | building the mindset. Building the well, the skill set, really, that's the best |
| 1924 | 02:40:06,539 --> 02:40:12,599 | way of saying it, to adhere to rules and not chase extra money. And you're going |
| 1925 | 02:40:12,599 --> 02:40:17,099 | to want to do bigger, bigger, bigger trades all the time, especially if you |
| 1926 | 02:40:17,099 --> 02:40:20,959 | start sharing your results with people on social media, because a novelty will |
| 1927 | 02:40:20,959 --> 02:40:25,039 | wear off fast. You know, when you buy a really nice sports car, everybody around |
| 1928 | 02:40:25,039 --> 02:40:27,319 | you, your friends, your neighbors, and they're like, oh, wow, that's really |
| 1929 | 02:40:27,319 --> 02:40:31,099 | nice. Five weeks later, they might look at you as you go down the road, but |
| 1930 | 02:40:31,099 --> 02:40:38,419 | they're not they're not saying that only happens the first time. Everything's got |
| 1931 | 02:40:38,419 --> 02:40:44,379 | a novelty aspect to it. It everything wears away, and when you start being |
| 1932 | 02:40:44,379 --> 02:40:50,319 | profitable, if those trades are by most of the industry's expectations, you |
| 1933 | 02:40:50,319 --> 02:40:55,179 | know, $1,000 a week, that's awesome. I'm a millionaire, and I'm telling you now, |
| 1934 | 02:40:55,239 --> 02:40:59,019 | if you can make $1,000 a week trading, you're doing really good. There's |
| 1935 | 02:40:59,019 --> 02:41:01,619 | nothing to be ashamed of. That's actually something to be very, very |
| 1936 | 02:41:01,619 --> 02:41:07,019 | proud of. But what happens if you can only make $200 right now or in the first |
| 1937 | 02:41:07,019 --> 02:41:12,719 | three or four months of you trying to do this? That's not failure. Failure is I'm |
| 1938 | 02:41:12,719 --> 02:41:15,839 | quitting and I'm never going to put more effort into this. That's, that's, |
| 1939 | 02:41:15,959 --> 02:41:21,199 | that's, that's bad, so you have to lower your expectation. But anyway, as I was |
| 1940 | 02:41:21,199 --> 02:41:24,979 | showing on the one minute chart, it was likely to come back down and touch the |
| 1941 | 02:41:24,979 --> 02:41:29,239 | top of the candle and then start to expand up into this blue level. Okay, |
| 1942 | 02:41:29,239 --> 02:41:33,079 | that was the initial high of the day, right at seven o'clock in the morning, |
| 1943 | 02:41:33,079 --> 02:41:37,819 | using the morning session. And if you look at what was happening here, it |
| 1944 | 02:41:37,819 --> 02:41:43,959 | traded up and then came right back down. See that what's what is occurring there, |
| 1945 | 02:41:45,279 --> 02:41:51,819 | what's occurring here, it's coming right back down, and it's rebalancing the |
| 1946 | 02:41:51,819 --> 02:41:58,539 | inefficiency of this quick, sudden price run from this close to that close. |
| 1947 | 02:41:59,619 --> 02:42:03,959 | That's what's occurring. So what the algorithm does, it refers back to that |
| 1948 | 02:42:03,959 --> 02:42:11,819 | price point at that time, and this is what goes on the market. Algorithm |
| 1949 | 02:42:11,819 --> 02:42:17,159 | starts from a higher Time Frame and refers to key price points that are |
| 1950 | 02:42:17,159 --> 02:42:23,239 | salient to where it's at right now, at given sets of time, as I'm teaching you |
| 1951 | 02:42:23,239 --> 02:42:27,859 | here, it will refer to close proximity points of reference, and that means |
| 1952 | 02:42:27,919 --> 02:42:32,479 | things like this, where we have a quick, sudden run like this, in a 15 second |
| 1953 | 02:42:32,479 --> 02:42:39,199 | chart, in a five second chart, a one second chart, it's cycling through very, |
| 1954 | 02:42:39,199 --> 02:42:42,819 | very fast the the mechanism this, it's it's going through all these |
| 1955 | 02:42:42,819 --> 02:42:50,619 | calculations so fast you can't keep up with what, what's actually going on. So |
| 1956 | 02:42:50,619 --> 02:42:54,339 | when I had to sit down and create a language to try to compare and contrast, |
| 1957 | 02:42:54,339 --> 02:43:00,659 | the closest thing I can and not break any agreements, this is what you have, |
| 1958 | 02:43:00,659 --> 02:43:06,959 | you have this visual representation of it, where it's likely to draw to this |
| 1959 | 02:43:06,959 --> 02:43:14,399 | level, and just above it, it comes back down, and where there's an absence of a |
| 1960 | 02:43:14,399 --> 02:43:23,959 | fair offer for buying On a down tick. Okay, you ever hear how, like when, when |
| 1961 | 02:43:23,959 --> 02:43:30,019 | the circuit breakers go off on the market goes too far one direction, |
| 1962 | 02:43:30,199 --> 02:43:34,639 | there's a circuit breaker, they halt trading, say, for instance, the market |
| 1963 | 02:43:34,639 --> 02:43:40,899 | goes down too fast, too much at one time. And they pause trading until the |
| 1964 | 02:43:40,899 --> 02:43:45,579 | market starts to tick up. Okay, there's a lot of high frequency trading |
| 1965 | 02:43:45,579 --> 02:43:49,539 | algorithms that operate and engage in a marketplace like that. So they're |
| 1966 | 02:43:49,599 --> 02:43:55,359 | filtering out of they're not trying to buy when the market's expanding up. But |
| 1967 | 02:43:55,359 --> 02:43:59,679 | what their algorithm seeks is these inefficiencies here, and then they once |
| 1968 | 02:43:59,679 --> 02:44:04,019 | they get inside that range, once it meets that threshold of trading into it, |
| 1969 | 02:44:04,199 --> 02:44:10,679 | then once it's met, then it trades the first down tick after that, and then |
| 1970 | 02:44:10,679 --> 02:44:19,499 | their algorithm fires entry orders to get long knowing that the algorithm Is |
| 1971 | 02:44:19,499 --> 02:44:24,139 | repricing. Here you can, if you have the benefit of looking at Time and Sales, |
| 1972 | 02:44:24,199 --> 02:44:28,879 | you can look at how many contracts were traded here, from here, that's not a lot |
| 1973 | 02:44:28,879 --> 02:44:34,039 | of contracts. That's not a lot of contracts from here to there. It doesn't |
| 1974 | 02:44:34,039 --> 02:44:40,579 | take a lot of contracts to move price. It just needs one contract to book and |
| 1975 | 02:44:40,699 --> 02:44:47,859 | show time of sales. It's not volume that's moving price. Volume precedes |
| 1976 | 02:44:47,859 --> 02:44:52,299 | Price. That's a textbook right out of every retail language book there is, |
| 1977 | 02:44:53,379 --> 02:45:00,779 | volume precedes Price. What does that mean? There's going to be a lot. Volume |
| 1978 | 02:45:01,739 --> 02:45:09,059 | in this area down here? Why? Because it took stops out what's below here still |
| 1979 | 02:45:09,059 --> 02:45:17,399 | stops. So volume will be larger here than it will be in here, because this is |
| 1980 | 02:45:17,399 --> 02:45:23,299 | all discovery. This is all going to levels that are outside the range. And |
| 1981 | 02:45:23,299 --> 02:45:27,379 | while there might be buy stops above this blue line that I indicated, the |
| 1982 | 02:45:27,379 --> 02:45:31,699 | further above that line we get, the less volume there will be, because everybody |
| 1983 | 02:45:31,699 --> 02:45:34,219 | wants to have a stop loss real close to a level. |
| 1984 | 02:45:35,540 --> 02:45:39,140 | And it's thinner as it gets up here. And that's why you start to see the price |
| 1985 | 02:45:39,140 --> 02:45:43,840 | start having all these big gaps, because it's pressing higher and higher and |
| 1986 | 02:45:43,840 --> 02:45:47,140 | higher. The algorithm is just going to reprice higher whether you want to be a |
| 1987 | 02:45:47,140 --> 02:45:50,380 | buyer or everybody collectively want to be a buyer or not. It's programmed to |
| 1988 | 02:45:50,380 --> 02:45:55,240 | keep offering that price, because someone is always coming in with a sell |
| 1989 | 02:45:55,240 --> 02:45:58,180 | order at market and a buy order at market. Guess what that does? It gives |
| 1990 | 02:45:58,180 --> 02:46:02,280 | you the counterparty and it's going to book price. You can sit on your hands |
| 1991 | 02:46:02,280 --> 02:46:05,100 | and talk about how you're not going to buy it, because it's this that and the |
| 1992 | 02:46:05,100 --> 02:46:09,600 | other thing, there's always some market orders coming in always, and the |
| 1993 | 02:46:09,600 --> 02:46:14,460 | algorithm knows that that function of liquidity is always present, so it will |
| 1994 | 02:46:14,460 --> 02:46:18,960 | constantly offer higher prices, and it doesn't matter how many. Tom Dixon, |
| 1995 | 02:46:18,960 --> 02:46:27,860 | Harry's from Goldman Sachs, okay? Or, well, I like kicking them around. We'll |
| 1996 | 02:46:27,920 --> 02:46:31,400 | just leave it at that. All these large investment firms, no matter how many |
| 1997 | 02:46:31,400 --> 02:46:33,980 | volume, how much volume they got, or they're trying to push into the |
| 1998 | 02:46:33,980 --> 02:46:38,180 | marketplace, they're not pressing price down. They might go out and say, Yeah, |
| 1999 | 02:46:38,180 --> 02:46:42,820 | we did this, we did that. But they're not doing shit. They're stuck in the |
| 2000 | 02:46:42,820 --> 02:46:47,620 | same delivery paradigm that every one of us is to the markets. Going to go where |
| 2001 | 02:46:47,620 --> 02:46:50,740 | they're going to go, regardless of how much buying and selling pressure there |
| 2002 | 02:46:50,740 --> 02:46:55,720 | is, period, end of story and how many equation I or not equation. But analogy |
| 2003 | 02:46:55,720 --> 02:47:00,240 | I like to use is, you know, when there's a limit, limit up, move in the |
| 2004 | 02:47:00,240 --> 02:47:05,100 | marketplace. How many contracts does it take to cause the market to open up? |
| 2005 | 02:47:05,100 --> 02:47:09,300 | Limit up? Say you're trading silver, and the markets are closed, and then we open |
| 2006 | 02:47:09,300 --> 02:47:12,660 | up, and we open up the limit up. How many contracts does it take to cause |
| 2007 | 02:47:12,660 --> 02:47:19,500 | that trade to be lock limit up? Just one. Just one contract, because it's |
| 2008 | 02:47:19,560 --> 02:47:25,700 | price oriented, but it opened at a time when that first price was offered at the |
| 2009 | 02:47:25,700 --> 02:47:29,120 | furthest extreme that the exchanges will allow. And that means that you have a |
| 2010 | 02:47:29,120 --> 02:47:34,520 | limited move. So buying and selling pressure is not it okay? It's time and |
| 2011 | 02:47:34,520 --> 02:47:42,280 | price so in here we have price dropping down to overlap this inefficiency. |
| 2012 | 02:47:42,640 --> 02:47:49,120 | There's no gap in here. Is there? Is there any gap in here? Sure, there is. |
| 2013 | 02:47:50,080 --> 02:47:50,560 | Look, I |
| 2014 | 02:48:04,440 --> 02:48:13,620 | I'm not Chris Laurie, when air, when there is a inefficiency, if it comes |
| 2015 | 02:48:13,620 --> 02:48:22,220 | down and closes it in, I'm not done with it. Relative equal highs here, fair |
| 2016 | 02:48:22,220 --> 02:48:28,520 | value gap. It trades outside of it comes back down into it here with a one |
| 2017 | 02:48:28,520 --> 02:48:36,680 | minute, immediate rebalance. So it's trading down to a deeper discount. So |
| 2018 | 02:48:36,680 --> 02:48:41,740 | this is your first return in after taking the buy side here, but this is |
| 2019 | 02:48:41,740 --> 02:48:46,000 | left intact, so this is still in play. So this dropping down that right there |
| 2020 | 02:48:46,000 --> 02:48:50,440 | would have been a 15 second long for me, if I would have been buying down in |
| 2021 | 02:48:50,440 --> 02:48:53,500 | here, or if I was long here, this would be another area where I could go long |
| 2022 | 02:48:54,280 --> 02:49:00,100 | and add another partial, but it couldn't be larger than one contract. Why? |
| 2023 | 02:49:00,100 --> 02:49:03,780 | Because we're we're long in the tooth with the price run. And my limit order |
| 2024 | 02:49:03,780 --> 02:49:10,020 | would be just above here. It wouldn't be up here. Oh, ICT. You should have been |
| 2025 | 02:49:10,620 --> 02:49:14,220 | looking for something like that. Why the low hanging fruit is just above here. |
| 2026 | 02:49:14,220 --> 02:49:17,400 | That's all I want. That's where the largest degree of volume is going to be, |
| 2027 | 02:49:17,400 --> 02:49:20,720 | because the order is going to be closer to the levels that are expected. The |
| 2028 | 02:49:20,960 --> 02:49:24,560 | algorithm is going to reprice, because it's going to do the function of what a |
| 2029 | 02:49:24,560 --> 02:49:29,360 | wick does, where it does the damage it go. It colors outside the line, just |
| 2030 | 02:49:29,360 --> 02:49:33,200 | like your son or daughter will, and she's doing exactly what she's coded to |
| 2031 | 02:49:33,200 --> 02:49:39,140 | do. But I need to be efficient with executions and remove the element of |
| 2032 | 02:49:39,440 --> 02:49:43,720 | fear and greed and regret. So I'm going to take where it's obvious for me to get |
| 2033 | 02:49:43,720 --> 02:49:49,480 | out. If you start getting out at the highest high and getting in at the |
| 2034 | 02:49:49,480 --> 02:49:52,780 | lowest low all the time, you're going to experience broker problems. They're |
| 2035 | 02:49:52,780 --> 02:49:55,960 | going to slip you. They're going to do re quotes, and you're going to miss |
| 2036 | 02:49:56,620 --> 02:49:59,440 | because if they've been de booking you, and you'll know they've been debunking |
| 2037 | 02:49:59,440 --> 02:50:04,200 | you if. You start getting that kind of stuff, and you're winning, then they'll |
| 2038 | 02:50:04,200 --> 02:50:08,040 | start messing with you, because you're taking money out of their hands. You get |
| 2039 | 02:50:08,040 --> 02:50:11,460 | mad about all you want. Oh, it's just it's wrong. It doesn't matter. You give |
| 2040 | 02:50:11,460 --> 02:50:15,720 | them permission when you signed up. It's the way it is. If they can get you out |
| 2041 | 02:50:15,720 --> 02:50:20,220 | with the liquidity, then they will, but they can't guarantee it, so there's |
| 2042 | 02:50:20,220 --> 02:50:26,900 | their gray area. So the 15 second chart, when you see things on a one minute, |
| 2043 | 02:50:26,900 --> 02:50:30,560 | five minute chart, it gives you opportunity for you to get in alignment. |
| 2044 | 02:50:30,620 --> 02:50:33,680 | Now let's just say, for sake of argument, when I was calling the one |
| 2045 | 02:50:33,680 --> 02:50:39,380 | minute institution, one minute immediate rebalance and expecting it to run up |
| 2046 | 02:50:39,380 --> 02:50:46,960 | here, okay, that is a 40 handle run or more. The live streamers on YouTube, |
| 2047 | 02:50:47,020 --> 02:50:52,360 | most of them don't see that. They get out with, like, five handles, 15 |
| 2048 | 02:50:52,360 --> 02:50:57,220 | handles, 10. They might say they're aiming for 20. And they get out at |
| 2049 | 02:50:57,220 --> 02:51:01,740 | whatever they their emotions push them out of the market with. And you never |
| 2050 | 02:51:01,740 --> 02:51:05,400 | really, you never really see them enter. You don't you don't see when they're |
| 2051 | 02:51:05,400 --> 02:51:09,900 | actually telling you this is where it's happening right now. They they have a |
| 2052 | 02:51:09,900 --> 02:51:13,020 | target that's a lofty One. They'll say, I think it's going to go up here. And |
| 2053 | 02:51:13,140 --> 02:51:16,920 | then they'll say, Well, see, I caught it. Who's doing it like us. And they |
| 2054 | 02:51:16,920 --> 02:51:22,520 | show you the trade after the fact. They do that because they don't do what I'm |
| 2055 | 02:51:22,520 --> 02:51:25,220 | teaching you to do right here. And they're going to start doing it, trust |
| 2056 | 02:51:25,220 --> 02:51:28,280 | me. And then when they do it, their trading will improve, and then they'll |
| 2057 | 02:51:28,280 --> 02:51:32,420 | get more confident about pushing the button at the execution points from |
| 2058 | 02:51:32,420 --> 02:51:36,800 | beginning to end, and then they can earn the title of number one day trader on |
| 2059 | 02:51:36,800 --> 02:51:41,440 | YouTube. But until they do that, they can't. So let's say I missed this |
| 2060 | 02:51:41,440 --> 02:51:46,420 | opportunity to be long there. Okay, we have a down closed candle inside of a |
| 2061 | 02:51:46,420 --> 02:51:50,980 | fair value gap that came back down into an old inefficiency as well after the |
| 2062 | 02:51:50,980 --> 02:51:54,400 | first run above here. This is all extra credit stuff. Okay, so this is, this is |
| 2063 | 02:51:54,400 --> 02:51:57,820 | more or less not for you, Caleb. It's for the people that are familiar with my |
| 2064 | 02:51:57,820 --> 02:52:02,220 | stuff. But just want a little bit more icing on the cake when it trades back |
| 2065 | 02:52:02,220 --> 02:52:06,720 | down into this down closed candle here, that could be a buy for me as well, that |
| 2066 | 02:52:06,720 --> 02:52:12,960 | one, and we can look at this little gap right there, see that that's all it |
| 2067 | 02:52:12,960 --> 02:52:18,300 | takes. Trades down to here, my limit order would be just above midpoint of |
| 2068 | 02:52:18,300 --> 02:52:22,700 | that wick. I'm not demanding it gets me filled in it, because I may not get it. |
| 2069 | 02:52:22,700 --> 02:52:26,360 | So I'll be a little bit more forgiving and placing a limit order there, and |
| 2070 | 02:52:26,360 --> 02:52:29,480 | then I could use that to get in sync with the run if I felt like it was going |
| 2071 | 02:52:29,480 --> 02:52:33,020 | to go higher on this teaching on the basis of how to use the 15 second chart |
| 2072 | 02:52:33,020 --> 02:52:37,820 | and how it gives you a plethora of entries. There's so many entries offered |
| 2073 | 02:52:37,820 --> 02:52:42,280 | on a five second and a 15 second chart that you don't see in a one minute |
| 2074 | 02:52:42,280 --> 02:52:47,080 | chart, but the algorithm is doing the same thing. You're telling me that |
| 2075 | 02:52:47,680 --> 02:52:50,500 | people are looking at the chart and they're looking at reference points that |
| 2076 | 02:52:50,500 --> 02:52:55,300 | I've classically defined now is as PD arrays. The market keeps going back to |
| 2077 | 02:52:55,300 --> 02:52:58,960 | these price points. You mean to tell me everybody that learned from online Trade |
| 2078 | 02:52:58,960 --> 02:53:03,240 | Academy and supply and demand that they're all looking at 15 second charts, |
| 2079 | 02:53:03,240 --> 02:53:07,740 | and these are and they're stopping the market rate these levels they're buying |
| 2080 | 02:53:07,860 --> 02:53:11,100 | is stopping it right at these levels, and it's keying off of that stuff |
| 2081 | 02:53:11,280 --> 02:53:16,200 | precisely when you're full of shit. Any happen Jack, it's all algorithmic, and |
| 2082 | 02:53:16,500 --> 02:53:20,960 | it doesn't matter how many buying and selling a specific number of contracts, |
| 2083 | 02:53:20,960 --> 02:53:24,500 | the price is going to go where it's going to go because it's scripted, and |
| 2084 | 02:53:24,500 --> 02:53:27,920 | it's going to go there based on time. That's the way it works. And you can |
| 2085 | 02:53:27,920 --> 02:53:30,860 | argue with me, and I don't care, you're never going to convince me otherwise, |
| 2086 | 02:53:30,860 --> 02:53:33,800 | because I'm out here doing it. I'm out here telling you what it's going to do |
| 2087 | 02:53:33,800 --> 02:53:37,640 | beforehand. You're going to argue it in a hindsight capacity. If you want to |
| 2088 | 02:53:37,640 --> 02:53:41,440 | have a session where we sit down together and you're going to explain |
| 2089 | 02:53:41,440 --> 02:53:46,660 | things retail. I would love that. I would love that I will do a live stream, |
| 2090 | 02:53:46,840 --> 02:53:49,840 | and they could be on one side of the screen, and we can take turns talking |
| 2091 | 02:53:49,840 --> 02:53:53,620 | about what we think is going to happen. And I will run circles around you. I |
| 2092 | 02:53:53,620 --> 02:53:58,360 | will literally lay down every single price move all day long. But they'll, |
| 2093 | 02:53:58,420 --> 02:54:03,600 | they'll have nothing to say. Then they won't, but other people will still say, |
| 2094 | 02:54:03,600 --> 02:54:09,720 | Well, that was just one day. I was just, you know, he got lucky. It's fun. It's |
| 2095 | 02:54:09,720 --> 02:54:15,900 | really fun, but it anyway, the 15 second chart affords you that as a mechanism, |
| 2096 | 02:54:15,960 --> 02:54:20,040 | okay? It also gives you the ability to reduce your stop loss, okay, make it a |
| 2097 | 02:54:20,040 --> 02:54:23,480 | little bit tighter, not that you should be trading with really early, small stop |
| 2098 | 02:54:23,480 --> 02:54:27,980 | losses in the beginning, because it's important for you to read price |
| 2099 | 02:54:28,040 --> 02:54:32,000 | appropriately and effectively and efficiently first, and then eventually, |
| 2100 | 02:54:32,240 --> 02:54:37,220 | you know, when you're into the part of taking trades where you have to manage |
| 2101 | 02:54:37,220 --> 02:54:41,320 | real risk and real money, then these types of conversations are much more |
| 2102 | 02:54:41,320 --> 02:54:45,580 | pertinent to the discussion, but right now, it's so outside the scope of what |
| 2103 | 02:54:45,580 --> 02:54:49,120 | Caleb needs. Right now, it's not important at all. It's absolutely zero |
| 2104 | 02:54:49,120 --> 02:54:53,800 | importance, zero. But I wanted to kind of like outline something real time and |
| 2105 | 02:54:54,340 --> 02:54:59,560 | give you a feel for how you can make bread and butter setups. And they're |
| 2106 | 02:54:59,560 --> 02:55:04,620 | real easy. See the C like if you understand where the draw is, what it's |
| 2107 | 02:55:04,620 --> 02:55:09,120 | done. It made something jagged down here, and it made something jagged down |
| 2108 | 02:55:09,120 --> 02:55:17,520 | here, and it left that high in this high in place. It's relatively equal. When |
| 2109 | 02:55:17,520 --> 02:55:20,300 | you have the chart spread out like this, it doesn't look like that, but when you |
| 2110 | 02:55:20,300 --> 02:55:25,460 | compress it, we're back in the same discussion of, okay, it failed to get |
| 2111 | 02:55:25,460 --> 02:55:28,640 | back to that one, so the second one was lower. So what does that mean? It's a |
| 2112 | 02:55:28,640 --> 02:55:32,000 | high probability, relative equal high the market will reprice to that because |
| 2113 | 02:55:32,000 --> 02:55:36,980 | it wants to disrupt. It wants to disrupt, it wants to be that cousin or |
| 2114 | 02:55:38,600 --> 02:55:43,180 | in law that comes as a cookout that you really don't want there. That's what the |
| 2115 | 02:55:43,180 --> 02:55:46,600 | market does, okay? And when you understand that, you'll you'll do better |
| 2116 | 02:55:46,600 --> 02:55:50,680 | in your trades. But I've gone on and on today, I've really overstayed my |
| 2117 | 02:55:50,680 --> 02:55:54,520 | welcome. I'm tired, I'm hungry, and I want to get off here. So hopefully you |
| 2118 | 02:55:54,520 --> 02:55:58,060 | found this one insightful. If you did, I would appreciate a thumbs up. It doesn't |
| 2119 | 02:55:58,060 --> 02:56:01,020 | mean you love me. It just means that you learn something today, and you're |
| 2120 | 02:56:01,020 --> 02:56:05,580 | continuously getting a deposit in your understanding, and that's like a report |
| 2121 | 02:56:05,580 --> 02:56:10,020 | card for me to either continue or not. If there's 100,000 people watching and |
| 2122 | 02:56:10,020 --> 02:56:13,560 | there's less than 17,000 that's going to be very discouraging. I might take |
| 2123 | 02:56:13,560 --> 02:56:16,620 | tomorrow off if that's the case. So let that be a little factor in whether or |
| 2124 | 02:56:16,620 --> 02:56:20,160 | not you want to give me feedback until I'll talk to you next time. Be safe. |
| 2125 | 02:56:20,160 --> 02:56:20,280 | You. |