ICT YT - 2024-08-08 - ICT 2024 Mentorship - Lecture 04
Last modified by Drunk Monkey on 2024-08-13 07:58
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Outline
02:02 - The birthday of ICT, including its actual birth date and a message to the audience.
- ICT celebrates their birthday on August 8, 1969.
02:41 - Live stream disruptions and audio quality.
- ICT went off on a rant during a live stream, expressing frustration with interruptions and technical issues.
- ICT's personal, private students confirmed they could hear him loud and clear, despite technical difficulties.
05:16 - Economic calendar and market analysis.
- ICT discusses trading strategies and discloses his approach to analyzing market data without being influenced by monetary interests.
- ICT explains how to use Trading View and highlights the importance of labeling chart markers.
- The speaker is waiting for a medium high impact news event at 830, despite lacking high or medium impact news in the morning session.
- The speaker believes the market will still be volatile at 830 due to the absence of news, making it more probable for price runs to occur.
12:12 - Using Fibonacci levels to analyze stock market gaps.
- ICT suggests waiting to buy or sell based on market reaction to new week opening gaps.
- ICT explains how to use Fibonacci levels to identify potential trading opportunities.
15:41 - Identifying market trends and using Fibonacci levels for trading.
- ICT outlines Fibonacci settings for monitoring opening gaps, including 0.75 and 0.25 levels.
- ICT emphasizes the importance of only commenting on their YouTube channel or in direct messages, and being respectful of their time and opinions.
- The speaker discusses the importance of identifying areas of support and resistance in the market, using the New Day opening gap as a key indicator.
- The speaker emphasizes the role of buying pressure in turning the market, citing a Reddit thread as an example of collective buying pressure.
21:59 - Trading strategies and market inefficiencies.
- Trader identifies potential trading opportunities based on market structure and time of day.
- ICT argues that traditional support and resistance concepts are too narrow and can lead to losses.
25:47 - Identifying price direction using gaps and reference points.
- ICT emphasizes the importance of identifying reference points in price action.
- ICT explains how to anticipate market direction by analyzing price and time references.
- ICT emphasizes the importance of testing trading strategies personally to build trust and confidence.
- The speaker identifies a potential inversion fair value gap in the chart, which could indicate a potential direction for price movement.
- The speaker highlights the importance of identifying breakers and fair value gaps in technical analysis, and how they can help predict price movement.
33:00 - Technical analysis and market movement.
- ICT explains how to identify fair value in the market by looking for specific signatures and evidences.
- ICT demonstrates how to use these signatures to determine the direction of the market and make trades.
35:52 - Trading strategies and market analysis.
- ICT: Disputes opening gap, trades at high, then displaces lower (risky trading).
- Unknown Speaker: Seeks lower charts to maximize potential trading opportunities (15-second chart shown).
- ICT identifies a potential trading opportunity based on a balance between supply and demand.
41:42 - Annotating charts for trading with a focus on new day opening gaps.
- Speaker 2 explains importance of annotating charts with key levels for trading.
- ICT explains how to use news drivers to predict market movements.
44:59 - Price action and market analysis.
- ICT discusses the importance of 8:30 AM due to economic calendar and price movements.
- The speaker emphasizes the importance of not having an opinion when brand new to trading, and instead focusing on annotating and studying charts.
- The speaker suggests that by watching price action repeatedly, traders can pick up on patterns and learn to identify potential trading opportunities.
- ICT teaches student traders to trust their anticipatory price reading skills by practicing with real-time market data.
51:02 - Using price action to make informed trading decisions.
- ICT explains walking forward method to students, emphasizing log analysis and trade development.
- ICT emphasizes the importance of journaling and intentional observation in trading.
54:34 - Trading and market analysis.
- ICT discusses the market's tendency to rally after new day opening gaps, with a bias towards shorts experiencing pain.
- ICT highlights the importance of trading inefficiencies and First Order blocks, with potential for price runs up to the Tuesday New Day opening gap high.
- The speaker compares plate spinning to trading, emphasizing the need to avoid breaking plates (i.e., making mistakes) in the beginning stages of learning.
- The speaker shares personal experiences of trying and failing to use certain trading methods, emphasizing the importance of persistence and adaptability in trading.
- The speaker discusses their experience with trading, mentioning their impatience and desire to make money quickly.
- The speaker emphasizes the importance of patience and watching price action without emotional attachment to potential highs and lows.
01:02:06 - Using stop losses in trading, observing price action, and managing concerns.
- ICT emphasizes the importance of using a real stop loss to avoid mental stress and guarantee success in trading.
- ICT observes price action, notes concerns, and writes them down in real-time.
01:05:35 - Trading strategies and risk management using price action analysis.
- The speaker emphasizes the importance of watching price action and waiting for certain patterns to develop before making trades.
- The speaker encourages listeners to be patient and persistent in their trading, even if it's not fun or lucrative at first.
- ICT explains how he places stop losses based on volume imbalance and price action, using a real-life example.
- ICT's son is the one who requested him to document his stop loss placement method for trading.
01:09:53 - Trading strategies and market analysis.
- ICT argues that traders need to stop being skeptical and start trusting the evidence provided by successful students.
- ICT analyzes market activity, predicts potential future movements.
- ICT highlights a fair value gap in a stock, explaining why he chose that specific gap.
01:16:04 - Fibonacci levels and price movement.
- ICT measures Fibonacci levels to identify range highs and lows, and anticipates future directional movement based on recent protracted moves.
- ICT explains how open outcry trading worked before electronic markets, using examples from his teaching on baby pips.
- ICT anticipates a price movement based on logic taught yesterday, with potential impact from news driver.
01:20:00 - Using market replay to identify trading opportunities.
- ICT explains market dynamics, including spooling and liquidity.
- Analyzes price range convergence and potential trade opportunities.
- ICT analyzes market behavior and identifies patterns, using logic and real-time data to make informed trading decisions.
- ICT's screen appearance reflects their unique approach, with volume and balance indicators used to identify potential entry points and catalysts for price movement.
01:26:03 - Trading strategies and market analysis.
- ICT explains how smart money uses concepts like event horizon and dark pools to cannibalize stupid money.
- ICT criticizes others for teaching misinterpreted versions of his trading strategies.
01:29:41 - Technical analysis and trading strategies using candlestick patterns.
- ICT analyzes price action, identifying fair value gaps and wick behavior, providing insights for traders.
- ICT highlights the importance of volume balance and encroachment, showing how these factors impact price movement.
- The speaker discusses the importance of observing price action and identifying potential trading opportunities.
- The speaker provides examples of how to analyze price action and make trading decisions based on real-time observations.
01:35:17 - Technical analysis and trading strategies.
- ICT emphasizes the importance of managing risk in trading.
- ICT emphasizes the importance of focusing on one's own learning and understanding, rather than external opinions or projections.
01:38:33 - Trading psychology and managing emotions.
- ICT emphasizes the importance of understanding market dynamics and not relying solely on luck or past successes.
- ICT warns against the dangers of overconfidence and the tendency to attribute luck to skill in trading.
- The speaker emphasizes the importance of self-discipline and consistency in trading, citing examples from their own experience.
- The speaker encourages listeners to focus on the positive aspects of trading and to endure difficult moments with a growth mindset.
- The speaker warns against watching profit/loss while trading, as it can lead to toxic thinking and emotional distress.
- The speaker suggests breathing exercises and positive self-talk to manage stress and anxiety while trading.
01:46:23 - Managing distractions while trading, emphasizing the importance of a dedicated workspace and minimizing interruptions.
- The speaker emphasizes the importance of maintaining a focused mindset while trading, free from distractions and interruptions.
- The speaker shares their personal strategy for managing distractions, including closing the door to their office and limiting interactions with family and pets.
01:49:14 - Trading psychology and risk management.
- The speaker emphasizes the importance of trading with real money to learn and improve.
- The speaker advocates for a detached and unempathetic approach to trading, viewing it as a means to survive and succeed.
- The speaker emphasizes the importance of understanding the risks and having a balance in trading, rather than trying to trade every day or multiple times a day.
- The speaker encourages the listener to go through past price action and identify potential trading opportunities, with the goal of discovering their ideal trading model.
- ICT demonstrates a one-second chart to show opportunities for trading are present constantly.
01:56:06 - Trading and market analysis.
- ICT discusses fair value gaps and their impact on trading.
01:57:55 - Using charts to predict market movements.
- The speaker believes the markets are rigged and thankful for it, as it allows them to make informed decisions.
- The speaker compares the markets to a casino, where card counters are not allowed to play due to their skill set.
- ICT argues that relying on support and resistance levels is a losing strategy, and instead suggests attacking levels as opportunities.
- The speaker compares the economic calendar to a watering hole for lions, where gazelles (traders) go to get devoured.
- The speaker emphasizes the importance of respecting levels on a chart, rather than relying on random lines or levels.
02:04:54 - Technical analysis and trading strategies.
- ICT argues that market prices are not rigged, despite claims to the contrary, and that studying the charts can reveal valid patterns and levels.
- ICT searches for s and t divergences on multiple time frames to anticipate a fair value gap or run above old highs.
02:08:23 - Technical analysis and trading strategies.
- ICT wants to see divergence in a trade, where one asset fails and the other succeeds, as it provides quality behind analysis.
- ICT uses SMT to confirm trades, but doesn't necessarily need it, as it gives a little bit more quality behind analysis.
- ICT explains how to identify and trade on new day and new week gaps, using live data to verify opportunities.
- ICT emphasizes the importance of noticing and anticipating price action, calling it a "time machine" for forecasting the future.
- Enigma shares his experience and knowledge with enthusiasm and confidence, inspiring others to join the "cult of winning."
- Enigma's unique approach to technical analysis and trading has led to success for himself and those he has mentored.
Transcription
| 1 | 00:02:02 --> 00:02:10 | ICT: Happy Happy birthday to me. Happy birthday. Oh, hello. Good morning. Good |
| 2 | 00:02:10 --> 00:02:17 | morning. How are you? Well? Today is ICTs birthday. Not when Michael became |
| 3 | 00:02:17 --> 00:02:25 | ICT That's November 5, the actual birth date of the domain himself, Mr. Guru, |
| 4 | 00:02:28 --> 00:02:38 | August 8 at 7:11pm, tonight, 52 years ago, I entered the fray. So hope you're |
| 5 | 00:02:38 --> 00:02:47 | all doing well. Let me just start off real quick with the the live stream |
| 6 | 00:02:47 --> 00:02:52 | yesterday, I kind of like went off on a rant, and I don't apologize for it, so |
| 7 | 00:02:52 --> 00:02:57 | let me just make that very clear. I don't apologize for it, but I think |
| 8 | 00:02:58 --> 00:03:05 | those in the in the seats they have control over what's going on these live |
| 9 | 00:03:05 --> 00:03:09 | streams, I think they let me know that I was given a little too much opinion |
| 10 | 00:03:09 --> 00:03:13 | about certain things. So we're going to avoid that, because my stream was |
| 11 | 00:03:13 --> 00:03:20 | disrupted yesterday. So to avoid that happening again, we'll just have to |
| 12 | 00:03:21 --> 00:03:29 | leave it for another medium. So anyway, today on the economic calendar, and |
| 13 | 00:03:29 --> 00:03:35 | today you can take this one to the bank. We will be shutting down at nine |
| 14 | 00:03:35 --> 00:03:41 | o'clock. It's my birthday, and I do have plans, and my wife basically laid down |
| 15 | 00:03:41 --> 00:03:46 | the wall and said, nine o'clock, or else. So, gentlemen, you know what that |
| 16 | 00:03:46 --> 00:03:55 | means. I have to make my escape here at 859, so that way I have met our |
| 17 | 00:03:55 --> 00:03:58 | arrangement and agreements before I started the stream today. She was a |
| 18 | 00:03:58 --> 00:04:01 | little disappointed. Actually, it was going to be doing it at all, but I was |
| 19 | 00:04:01 --> 00:04:05 | like, yeah, come on. I gotta, I gotta go out here and hang up my people. Okay, so |
| 20 | 00:04:07 --> 00:04:12 | we're going to look at this morning's price delivery. If you've noticed on the |
| 21 | 00:04:13 --> 00:04:19 | let's see here. Get my cards out of the way. Yes, I still hold a deck of cards |
| 22 | 00:04:20 --> 00:04:26 | when I'm talking to y'all, I don't know what's going on with YouTube, like, I |
| 23 | 00:04:26 --> 00:04:34 | can't see anything that to check it or test it. So I'm going to go over to my |
| 24 | 00:04:34 --> 00:04:37 | personal, private group real quick, if you just give me a moment, |
| 25 | 00:04:40 --> 00:04:41 | I just want to get a check |
| 26 | 00:04:44 --> 00:04:47 | on my audio before I go in any further, because I've I've done live streams |
| 27 | 00:04:47 --> 00:04:52 | before and thought I was talking and could be heard and it wasn't picking up |
| 28 | 00:04:52 --> 00:04:56 | anything. And I've also done videos where I've recorded for hours |
| 29 | 00:04:57 --> 00:04:58 | and, uh. |
| 30 | 00:05:00 --> 00:05:05 | Become the finding I wasted my time talking. So, okay, my my personal, |
| 31 | 00:05:05 --> 00:05:09 | private students are letting me know they can hear me loud, clear. So I don't |
| 32 | 00:05:09 --> 00:05:13 | want to see any comments saying, Turn up your mic, get get better equipment, |
| 33 | 00:05:13 --> 00:05:18 | because you need to turn your volume up or use headphones. Alright? So at 830 |
| 34 | 00:05:18 --> 00:05:25 | today, the economic calendar gives us employment data. Okay, so it's not Non |
| 35 | 00:05:25 --> 00:05:31 | Farm Payroll, like, like typical, you know, first Friday of the month, it is |
| 36 | 00:05:32 --> 00:05:38 | something that is ahead of those numbers. Oh, not, I'm sorry, not ahead |
| 37 | 00:05:38 --> 00:05:45 | of those numbers. But it's like, related, to that, that information. I |
| 38 | 00:05:45 --> 00:05:50 | don't care what the number is. I never look at those numbers for any report. I |
| 39 | 00:05:50 --> 00:05:54 | don't look at the number for CPI, I don't look at PMI, I don't look at the |
| 40 | 00:05:54 --> 00:05:58 | knock on payroll numbers. I don't compare the trends of what it what all |
| 41 | 00:05:58 --> 00:06:03 | of that is all baked in. Okay, it's all baked into. What price is going to do, |
| 42 | 00:06:03 --> 00:06:11 | and I just want to hunt where I think it may reach for, okay, so you're probably |
| 43 | 00:06:11 --> 00:06:13 | looking at the charts, especially the one of the upper left hand corner, the |
| 44 | 00:06:13 --> 00:06:17 | 15 minute time frame, and you probably noticed that there's a whole bunch of |
| 45 | 00:06:17 --> 00:06:23 | lines on it, okay? And for a chart that is an ICT chart that's very busy. Okay, |
| 46 | 00:06:23 --> 00:06:27 | it's a whole lot of stuff going on, which is what I was referring to |
| 47 | 00:06:27 --> 00:06:34 | yesterday, when I was talking about how you want to create a low A layout, and |
| 48 | 00:06:35 --> 00:06:39 | also want to say something real quick, trading view. I think was a little upset |
| 49 | 00:06:39 --> 00:06:40 | with me, |
| 50 | 00:06:41 --> 00:06:44 | my representatives, tapping in the private message, |
| 51 | 00:06:46 --> 00:06:51 | usually you see the messages over here on the right hand side. I think he was |
| 52 | 00:06:51 --> 00:06:55 | letting me know that I disclosed too much information about but I really |
| 53 | 00:06:55 --> 00:06:58 | didn't disclose anything, except for they offered him an opportunity, and |
| 54 | 00:06:58 --> 00:07:02 | like I've been true to everyone else, every vendor, every brokerage firm, |
| 55 | 00:07:02 --> 00:07:08 | every prop firm, every person or entity or company has ever asked for some kind |
| 56 | 00:07:08 --> 00:07:13 | of a partnership with me, I've always declined it. Because if I do that, if I |
| 57 | 00:07:13 --> 00:07:19 | if I do a program or an affiliation with anyone, that means my opinion is |
| 58 | 00:07:19 --> 00:07:25 | influenced, period, and I don't trust anyone's opinion that has an affiliate |
| 59 | 00:07:25 --> 00:07:30 | or partnership monetarily with anyone or any company, because they're monetized. |
| 60 | 00:07:30 --> 00:07:34 | Their opinion is monetized. So when I say something, and I haven't said |
| 61 | 00:07:34 --> 00:07:38 | anything bad about trading view, in fact, you're probably all going to be |
| 62 | 00:07:38 --> 00:07:42 | buying a membership to trading view on Black Friday, so they should be |
| 63 | 00:07:42 --> 00:07:46 | thankful, and then I'm pushing and hurting everybody, but that's the day |
| 64 | 00:07:46 --> 00:07:49 | everybody should buy it. It's not my fault that they heavily discount their |
| 65 | 00:07:49 --> 00:07:53 | stuff on that day. I just wish I would have done it like that the first few |
| 66 | 00:07:53 --> 00:07:59 | times I paid for it. But don't bother me, dude. Okay, I'm repping. I'm repping |
| 67 | 00:07:59 --> 00:08:02 | as best as I can, because I like the service, but don't, don't nag me in the |
| 68 | 00:08:02 --> 00:08:10 | private messages. So anyway, the the lines you see here, this is kind of like |
| 69 | 00:08:10 --> 00:08:14 | what I was getting at yesterday, where you want to start populating your chart |
| 70 | 00:08:15 --> 00:08:20 | with you don't have to go back in time. You can just start doing it walking |
| 71 | 00:08:20 --> 00:08:25 | forward, which is essentially what I have here. I just picked the sunny new |
| 72 | 00:08:25 --> 00:08:30 | week opening gap, and that's as you see up here. And I want to take you to the |
| 73 | 00:08:30 --> 00:08:35 | chart where it actually is formed so we can see it. And then this is how I |
| 74 | 00:08:35 --> 00:08:43 | recommend that Caleb labels his okay. So while it's not important to have these |
| 75 | 00:08:43 --> 00:08:48 | on the chart you're watching, you know, all day long, or minute by minute, or if |
| 76 | 00:08:48 --> 00:08:52 | you're looking at a chart, like a less than one minute chart, 15 second 32nd |
| 77 | 00:08:52 --> 00:08:57 | chart, it's not important to view it from this perspective, because once you |
| 78 | 00:08:57 --> 00:09:00 | see where you're at, like, for instance, we're here right now. This is mark to |
| 79 | 00:09:00 --> 00:09:07 | market there. That's real time, and we are just below Wednesday's New Day |
| 80 | 00:09:07 --> 00:09:14 | opening gaps low, and we are above today's New Day opening got hot, so |
| 81 | 00:09:14 --> 00:09:19 | we're in between, okay, which is classic. It's typical, because we're |
| 82 | 00:09:19 --> 00:09:28 | waiting for a medium high impact type of event at 830 now, when we do not have |
| 83 | 00:09:28 --> 00:09:33 | high impact or medium impact news in the morning session, I still am watching |
| 84 | 00:09:33 --> 00:09:39 | these levels, because at 830 the element of time is still there. So the algorithm |
| 85 | 00:09:39 --> 00:09:44 | is going to just walk forward. It's not, it's not aware. Okay, this is, this is |
| 86 | 00:09:44 --> 00:09:49 | kind of like me saying probably too much more than I should. But this is why I |
| 87 | 00:09:49 --> 00:09:55 | say I don't care about the numbers that these reports, you know, present to the |
| 88 | 00:09:55 --> 00:10:00 | public, because at 830 the algorithm is going to start school. Going anyway, |
| 89 | 00:10:01 --> 00:10:08 | okay, on high impact news drivers or medium impact news drivers, they can |
| 90 | 00:10:09 --> 00:10:14 | push it a little bit further. I'm not saying that it's absolutely 100% manual |
| 91 | 00:10:14 --> 00:10:18 | intervention, but they will loosen it up a little bit so it starts to reach for a |
| 92 | 00:10:18 --> 00:10:24 | little bit farther outside the normal band of volatility where it can go up a |
| 93 | 00:10:24 --> 00:10:28 | little bit further than if it was, if without a news driver, that would be |
| 94 | 00:10:28 --> 00:10:32 | either medium or high impact. And what am I referring to? If this is the first |
| 95 | 00:10:32 --> 00:10:37 | time you're watching if you go to Forex factory.com, I don't have an affiliate |
| 96 | 00:10:37 --> 00:10:41 | with them either. I don't have anything with them, but they have a calendar that |
| 97 | 00:10:41 --> 00:10:44 | I've always used when I was on baby pips, I used that calendar, and when I |
| 98 | 00:10:44 --> 00:10:48 | was teaching forex and price action through Forex, that's the one I would |
| 99 | 00:10:48 --> 00:10:54 | use. You can still use it, but I prefer econo day, and that was the one I was |
| 100 | 00:10:54 --> 00:11:02 | using a long time ago, and it's a little bit harder on the eyes than the real |
| 101 | 00:11:02 --> 00:11:08 | nice presentation that Forex factory does. It's a real cleaner, easier and |
| 102 | 00:11:08 --> 00:11:12 | economy gives you a whole lot more information that I don't personally |
| 103 | 00:11:12 --> 00:11:17 | think you need everything it shows. But if you want to be a completeness freak |
| 104 | 00:11:17 --> 00:11:21 | like you just have to know everything. Econo day is the better economic |
| 105 | 00:11:21 --> 00:11:27 | calendar, okay? And it's free. You can go to their website, and there it is. If |
| 106 | 00:11:27 --> 00:11:31 | there is an absence of medium or high impact news in the morning session at |
| 107 | 00:11:31 --> 00:11:36 | 830 I still am watching 830 because the market will, in fact, still sport, |
| 108 | 00:11:36 --> 00:11:40 | because it does that. I'm already looking at 830 anyway, because it's a |
| 109 | 00:11:40 --> 00:11:47 | key time. It just makes it better, more probable that we'll have a lot more |
| 110 | 00:11:47 --> 00:11:52 | volatility, and the price runs will be a little bit more energetic when we have a |
| 111 | 00:11:52 --> 00:12:00 | medium impact or a high impact, new driver that's due out at 830 now, at 830 |
| 112 | 00:12:01 --> 00:12:05 | when we have something like we have today, this is classic where we'll be |
| 113 | 00:12:05 --> 00:12:13 | sandwiched between just waiting for that news to hit. Everybody that wants to |
| 114 | 00:12:13 --> 00:12:18 | play breakouts, okay, they're going to want to be a buyer, maybe above this |
| 115 | 00:12:18 --> 00:12:25 | high or that high. Short sellers are going to want to sell short here on a |
| 116 | 00:12:25 --> 00:12:29 | break, below those levels or above those levels, respectively, because they don't |
| 117 | 00:12:29 --> 00:12:34 | know what they're doing. I'm suggesting to you that we have to sit and wait, |
| 118 | 00:12:34 --> 00:12:41 | because it's not in an area where any one particular direction is more likely |
| 119 | 00:12:41 --> 00:12:47 | than the other. Let's say it that way. So let's go through a process of this is |
| 120 | 00:12:47 --> 00:12:51 | what we're practicing. We're looking at a time when the market should start |
| 121 | 00:12:51 --> 00:12:59 | running in about seven minutes or so, and then we want to watch and see how |
| 122 | 00:12:59 --> 00:13:04 | price reacts and delivers to I'm going to scroll back real quick and show you |
| 123 | 00:13:04 --> 00:13:08 | where the new week opening gap high the consequent crochet, which is the |
| 124 | 00:13:08 --> 00:13:13 | midpoint between the high and the low, and it's labeled, as you can see here. |
| 125 | 00:13:13 --> 00:13:20 | Okay. And then here is Tuesday's New Day opening gap, which you get that on |
| 126 | 00:13:20 --> 00:13:26 | Monday at 6pm Eastern, Standard Time. And then here is Wednesday's New Day |
| 127 | 00:13:26 --> 00:13:32 | opening got high mid point. New Day opening got low for Wednesday, which you |
| 128 | 00:13:32 --> 00:13:40 | get on Tuesday at 6pm Remember, you're the 6pm opening price gives you one or |
| 129 | 00:13:40 --> 00:13:46 | the other, the new day opening got high or low. And wherever that 6pm open is, |
| 130 | 00:13:46 --> 00:13:51 | if it's above where it's stopped trading at 5pm that same trading day, then |
| 131 | 00:13:51 --> 00:13:58 | that's that's going to mean we have an up gap, or opening gap higher, and the |
| 132 | 00:13:58 --> 00:14:04 | higher reading would be your high or your new day open gap high, and then |
| 133 | 00:14:04 --> 00:14:10 | where we closed at 5pm for that one hour break. If the close is lower, then that |
| 134 | 00:14:10 --> 00:14:14 | would be your new day opening gap low. And then you put a fib and measure the |
| 135 | 00:14:14 --> 00:14:19 | difference between both, and that 50% level is your consequent encouragement. |
| 136 | 00:14:19 --> 00:14:25 | So it's your midpoint. You don't need to put the quadrants on it, okay? Like I |
| 137 | 00:14:25 --> 00:14:29 | was teaching yesterday, after a while, you'll just trust the fact that you can |
| 138 | 00:14:29 --> 00:14:35 | eyeball it. You don't have to be so precise about those levels. I like to do |
| 139 | 00:14:35 --> 00:14:40 | the quadrant levels when there's a larger range, okay? And this particular |
| 140 | 00:14:40 --> 00:14:44 | range. This is one where I would have the quadrants on if it's a smaller |
| 141 | 00:14:44 --> 00:14:49 | range, like, say, the say the new day opening gap is like, you know, 1010, |
| 142 | 00:14:50 --> 00:14:54 | handles or 15, something less than 20 handles. I'm going to eyeball it. I'm |
| 143 | 00:14:54 --> 00:14:57 | not going to worry about the actual specific levels, because we're talking |
| 144 | 00:14:57 --> 00:15:02 | about very little in terms of. Of separation from where a trade might be |
| 145 | 00:15:02 --> 00:15:06 | entered and where a stop stop would be. It's not going to be an impact to me for |
| 146 | 00:15:06 --> 00:15:10 | making or breaking a trade. But this, this is a significant range here, from |
| 147 | 00:15:11 --> 00:15:20 | 18,099 to 18,033 so we have, we have 66 handles or so in here. So that's a |
| 148 | 00:15:20 --> 00:15:25 | pretty significant price range. So you would want to look at the quadrants, and |
| 149 | 00:15:25 --> 00:15:31 | then you simply would just when you put the FIB between the high and the low |
| 150 | 00:15:32 --> 00:15:35 | that makes up that new day opening gap. And if you don't know what I'm talking |
| 151 | 00:15:35 --> 00:15:38 | about, you didn't watch yesterday's presentation, go back and watch it. |
| 152 | 00:15:38 --> 00:15:40 | Okay, don't, don't skip ahead, because you're going to watch the video. Be |
| 153 | 00:15:40 --> 00:15:43 | frustrated. You have no idea what I'm talking about. I'm talking about, or |
| 154 | 00:15:43 --> 00:15:46 | assume that I don't care that you are trying to learn it properly because I've |
| 155 | 00:15:46 --> 00:15:52 | already outlined it yesterday. But when you put the fib on the low and the high |
| 156 | 00:15:52 --> 00:15:58 | of that gap on your Fibonacci, you're just going to toggle point seven five, |
| 157 | 00:15:58 --> 00:16:02 | or add it into your settings, point seven, five and point two, five. So it |
| 158 | 00:16:02 --> 00:16:06 | gives you your quadrant levels in addition to the point five zero level, |
| 159 | 00:16:06 --> 00:16:11 | which is the consequent encroachment. So you can see where everything is |
| 160 | 00:16:11 --> 00:16:18 | anchored, here, here, here, but I want to scrub back and show you where we |
| 161 | 00:16:18 --> 00:16:21 | opened. So here's where Friday's trading closed, and |
| 162 | 00:16:25 --> 00:16:30 | then here's where we opened on Sunday. See that, and then measuring the |
| 163 | 00:16:30 --> 00:16:38 | distance between the close on Friday and the open on Sunday at 6pm your 50% level |
| 164 | 00:16:38 --> 00:16:43 | now on new week, opening gaps, same thing. If it's a significant new week |
| 165 | 00:16:43 --> 00:16:48 | opening gap, I want, I want to put the quadrant levels on. Okay, so I'll do |
| 166 | 00:16:48 --> 00:16:54 | that here, so that way you can see it. This level was dropped in. So it's not |
| 167 | 00:16:54 --> 00:16:58 | like, it's not a it's not a fit, you can see that. So that's how I keep the chart |
| 168 | 00:16:58 --> 00:17:02 | clean, and that's it. What I'm suggesting to you, Caleb, all I'm doing |
| 169 | 00:17:02 --> 00:17:10 | is, when I put the fib on, I'm meshing the open to the close, and you can see |
| 170 | 00:17:10 --> 00:17:16 | it's the same price level. So four, five, 1.75 let's take that Fibonacci |
| 171 | 00:17:16 --> 00:17:22 | off. Four, five, 1.75 and all I did was drop the horizontal line, which is this |
| 172 | 00:17:22 --> 00:17:27 | one here, and put it on that price. And if you have to, if you have to calibrate |
| 173 | 00:17:27 --> 00:17:35 | it, you just drop it in close proximity to it. And then coordinates, you just |
| 174 | 00:17:35 --> 00:17:41 | put the price in 18,004 five, 1.75 and then if you have to move it around. Just |
| 175 | 00:17:41 --> 00:17:46 | do these types of things here. So that way it's sitting either below the high |
| 176 | 00:17:46 --> 00:17:51 | or just above the low. So it's it's closely correlated. So that way you know |
| 177 | 00:17:51 --> 00:17:55 | what you're you're monitoring. But to get the quadrants when it's an opening |
| 178 | 00:17:56 --> 00:18:03 | gap like that, these are the settings again, real quick. For for clarity sake, |
| 179 | 00:18:03 --> 00:18:07 | you're going to have these in your Fibonacci settings. So if you toggle |
| 180 | 00:18:07 --> 00:18:13 | them, 0.75 0.25 that'll give you your quadrant level. So I'm adding them now |
| 181 | 00:18:13 --> 00:18:19 | so you can see, you think that's random. You think that's random, right there. |
| 182 | 00:18:22 --> 00:18:26 | Some of you have already mentioned to me either in an email or a direct message |
| 183 | 00:18:26 --> 00:18:31 | to me on my cell phone, and I've asked you politely not to do that. My phone's |
| 184 | 00:18:31 --> 00:18:35 | been buzzing since 11 o'clock last night with everybody wishing me happy birthday |
| 185 | 00:18:35 --> 00:18:39 | while I appreciate that, you can just as well do it in the comment section on a |
| 186 | 00:18:39 --> 00:18:43 | most recent post on the Community tab on my YouTube channel, because that's like |
| 187 | 00:18:43 --> 00:18:48 | the replacement for Twitter. So while you don't see other people commenting, I |
| 188 | 00:18:48 --> 00:18:51 | see every comment that's made to me. Anything rude, I broom you. I don't ever |
| 189 | 00:18:51 --> 00:18:54 | need to see anything from you ever again, because I frankly don't care |
| 190 | 00:18:54 --> 00:18:57 | about your opinion. You're either here to learn or you're not. If you're not |
| 191 | 00:18:57 --> 00:19:03 | here to learn, piss off. So we spike through it. The wicks do the damage. And |
| 192 | 00:19:03 --> 00:19:07 | then we come back down. Look how it hits the bottom of the new week, opening gap |
| 193 | 00:19:07 --> 00:19:11 | there, and then accelerates lower. What is it reaching for? Well, you have |
| 194 | 00:19:11 --> 00:19:16 | Tuesdays, New Day opening gap there. It trades into that. Look at the consequent |
| 195 | 00:19:16 --> 00:19:22 | crochet one of that level, bang. And then we come back up, hit the low of it |
| 196 | 00:19:22 --> 00:19:29 | inside of a fair value gap trades lower. Here is the Wednesday New Day opening |
| 197 | 00:19:29 --> 00:19:33 | gap. Look at the bodies, respecting that you see that the wicks are going to do |
| 198 | 00:19:33 --> 00:19:39 | the damage, okay? And then we have look at this completely random comes back up, |
| 199 | 00:19:39 --> 00:19:44 | consequent encouragement. Trades lower. One more time drops back down. And now |
| 200 | 00:19:44 --> 00:19:51 | what have we done? 830 we traded up to Wednesday's New Day opening got low, |
| 201 | 00:19:51 --> 00:19:54 | consequent encroachment high. See if we can hit it. I. |
| 202 | 00:20:03 --> 00:20:08 | A little bit more of a spike. There you go. So what I was talking about |
| 203 | 00:20:08 --> 00:20:13 | yesterday, when we're looking at price, how do you learn to trust where the |
| 204 | 00:20:13 --> 00:20:17 | market's going to gravitate to? Okay, like, what side the market's going to |
| 205 | 00:20:17 --> 00:20:21 | reach for? Do you remember what I told you that you're going to focus on? If |
| 206 | 00:20:21 --> 00:20:24 | you've taken notes, you should already know this, because it's basically |
| 207 | 00:20:24 --> 00:20:30 | staring it in front of you right now, if the market's here, okay, and we have |
| 208 | 00:20:30 --> 00:20:35 | only today's New Day opening gap, which is here that's below opening right |
| 209 | 00:20:35 --> 00:20:40 | before 830 before the run. That's on that news driver. Where are you seeing |
| 210 | 00:20:40 --> 00:20:44 | clustering of New Day opening gaps and a new week opening gap? Where do you see |
| 211 | 00:20:44 --> 00:20:51 | it? Is it above the market or below it? Smiling? Aren't you look at it. You have |
| 212 | 00:20:51 --> 00:20:56 | it above, you have it above, and you have it above. Plus we've already had a |
| 213 | 00:20:56 --> 00:21:06 | nice drop down. We've taken liquidity relative equal lows inside of eight by |
| 214 | 00:21:06 --> 00:21:09 | sign a bell cell sign, in efficiency, right there. |
| 215 | 00:21:20 --> 00:21:27 | I'll extend it to the right. |
| 216 | 00:21:29 --> 00:21:33 | Okay, boom, trace down to upper quadrant of that fair value gap, which is a buy |
| 217 | 00:21:33 --> 00:21:39 | side and balance cell sign efficiency. Okay, let's just put some juice on this |
| 218 | 00:21:39 --> 00:21:39 | a little bit. |
| 219 | 00:21:42 --> 00:21:43 | Think that's random. |
| 220 | 00:21:46 --> 00:21:49 | You think that's just random? It's buying pressure there, guys, don't you |
| 221 | 00:21:49 --> 00:21:52 | understand? It's buying pressure that turns these markets right on a dime. |
| 222 | 00:21:53 --> 00:21:58 | Somebody collectively tells everybody in a Reddit thread that we're all going to |
| 223 | 00:21:58 --> 00:22:02 | buy at that price. So anyway, the price comes off of that comes back down. I |
| 224 | 00:22:02 --> 00:22:06 | like the fact that we didn't come down and touch this, because that sets the |
| 225 | 00:22:06 --> 00:22:12 | tone for it's trading up to these levels. Okay, it's going up into these |
| 226 | 00:22:12 --> 00:22:18 | levels for the sake of offering the equivalent to fair value, because all |
| 227 | 00:22:18 --> 00:22:24 | these levels here are potential areas for engagement, for deeper pockets, |
| 228 | 00:22:24 --> 00:22:29 | okay? And that means that they could, I'm not saying yet, but it could be |
| 229 | 00:22:29 --> 00:22:35 | going up here to create just a little bit of excitement to low or lower in |
| 230 | 00:22:35 --> 00:22:40 | buyers, and then they take them against the coals and come back down and work in |
| 231 | 00:22:40 --> 00:22:45 | today's New Day opening gap again, later in the afternoon, or maybe during the |
| 232 | 00:22:45 --> 00:22:50 | 930 opening while I won't be with you, and I will be with my wife. I will be |
| 233 | 00:22:50 --> 00:22:56 | admittedly peeking at my phone, watching at 930 to see what we're gravitating to. |
| 234 | 00:22:56 --> 00:23:02 | Okay, new week opening gap. It's going to take a real move to get up there. And |
| 235 | 00:23:02 --> 00:23:06 | that would indicate something entirely different. That would probably put me on |
| 236 | 00:23:06 --> 00:23:12 | the sidelines until we get to like 10 o'clock, like, if, in other words, if we |
| 237 | 00:23:12 --> 00:23:16 | run up there, if we start to really expand up in there prior to 930 opening, |
| 238 | 00:23:16 --> 00:23:21 | I would absolutely wait until 10 o'clock. Silver bullet, and that would |
| 239 | 00:23:21 --> 00:23:27 | be my my setup, and I would worry about taking a trade only around that premise, |
| 240 | 00:23:27 --> 00:23:33 | not something you know before, like usually, I'll have a an expectation in |
| 241 | 00:23:33 --> 00:23:38 | the marketplace where I think it's going to gravitate to this or that level, and |
| 242 | 00:23:38 --> 00:23:41 | if it's above that means I'm going to be looking for some scenario where I want |
| 243 | 00:23:41 --> 00:23:46 | to see a shift in market structure that's bullish time of day, I want to |
| 244 | 00:23:46 --> 00:23:50 | trade inside of a macro that's the last 10 minutes of the new new hour about to |
| 245 | 00:23:50 --> 00:23:55 | begin, and or 10 minutes after the top of the new hour. So I'm hunting that |
| 246 | 00:23:55 --> 00:24:02 | type of setup. And those conditions are not there yet for me, but I wanted to |
| 247 | 00:24:02 --> 00:24:06 | sit with you today and have it on the chart and kind of like, prove to you |
| 248 | 00:24:06 --> 00:24:11 | like, this is when you're when you're talking about support, resistance, okay? |
| 249 | 00:24:11 --> 00:24:14 | And you're looking at books like technical announcement, financial |
| 250 | 00:24:14 --> 00:24:18 | markets by John Murphy, or any other classical retail, you know, textbook. |
| 251 | 00:24:19 --> 00:24:24 | Those are absolutely helpful and useful, because it gives you what the other |
| 252 | 00:24:25 --> 00:24:29 | traders out there are going to be trying to do, and they're going to try to risk |
| 253 | 00:24:29 --> 00:24:34 | money on those ideas, these archaic ideas that have actually no bearing on |
| 254 | 00:24:34 --> 00:24:41 | what price is going to do. The concept of support and resistance is, in my |
| 255 | 00:24:41 --> 00:24:48 | opinion, to myopic, and I've lost a lot of money trying to trade them. Because |
| 256 | 00:24:48 --> 00:24:52 | the idea is, it goes to an old high, bounces down, and then if it goes up |
| 257 | 00:24:52 --> 00:24:55 | here one more time, the idea that going back up here and touch it again, to me, |
| 258 | 00:24:55 --> 00:24:59 | that's a trader with the perspective I have now is, why does it need to go |
| 259 | 00:24:59 --> 00:25:03 | back? Out there, if it's going to be resistance and it started to drop the |
| 260 | 00:25:03 --> 00:25:07 | first time it touched it, then there's really no weakness there. It's going |
| 261 | 00:25:07 --> 00:25:10 | back there for a reason, right? It's going back there to go above it because |
| 262 | 00:25:10 --> 00:25:14 | people are shorting it, but their stop loss is above that. And it took years |
| 263 | 00:25:14 --> 00:25:17 | for me to figure that out, because I wasn't someone that would want to sell |
| 264 | 00:25:17 --> 00:25:21 | short because I was afraid to sell short. I was only trying to buy if I was |
| 265 | 00:25:21 --> 00:25:26 | trying to trade. So when you look at how the market trades around these |
| 266 | 00:25:26 --> 00:25:30 | inefficiencies, these actual gaps, and then, because they trade to them and |
| 267 | 00:25:30 --> 00:25:36 | fill them in, everybody else in this industry, before I started teaching like |
| 268 | 00:25:36 --> 00:25:42 | this publicly, they would never worry about those levels again. It was |
| 269 | 00:25:42 --> 00:25:47 | completely tossed out. This, this, this got rid of it. It was no longer a factor |
| 270 | 00:25:47 --> 00:25:51 | for them. And they would look at price action. And I'm trying to tell you that |
| 271 | 00:25:52 --> 00:25:56 | you don't want to do that. You don't want to do that. They have a life cycle |
| 272 | 00:25:57 --> 00:26:03 | of a high degree of sensitivity that, in my opinion, to serve you as a student, |
| 273 | 00:26:04 --> 00:26:10 | New Day opening gaps, you want to have at least the last five days, okay, and |
| 274 | 00:26:11 --> 00:26:16 | the last five weeks, if it's the new week opening gap. And if you have these |
| 275 | 00:26:16 --> 00:26:22 | levels on a layout, you'll be able to see okay at the time of 830 when we were |
| 276 | 00:26:22 --> 00:26:29 | first talking, I mentioned how we're in between two significant inefficiencies. |
| 277 | 00:26:30 --> 00:26:36 | So nobody can sit there and say, Well, it's a so and so entry pattern because |
| 278 | 00:26:36 --> 00:26:42 | of this or that, because it's in like a no man's land. But as I was teaching you |
| 279 | 00:26:42 --> 00:26:48 | yesterday, how can you determine what side it's going to push through, and why |
| 280 | 00:26:48 --> 00:26:53 | would it do that? Well, if you're sitting and watching the market eight |
| 281 | 00:26:53 --> 00:26:56 | o'clock, it's when you're looking for relative equal highs and relative equal |
| 282 | 00:26:56 --> 00:27:03 | lows and into 830 and then at 830 what are we doing? We're looking for, where |
| 283 | 00:27:03 --> 00:27:09 | is the stacking and clustering of these inefficiencies, The New Day opening gaps |
| 284 | 00:27:09 --> 00:27:14 | and the new week opening gap, if it's above market price, which is right here |
| 285 | 00:27:14 --> 00:27:21 | at 830 where is it most likely going to press into the side that has all the |
| 286 | 00:27:21 --> 00:27:24 | inefficiencies, even if they've already been traded to see, this is what I'm |
| 287 | 00:27:24 --> 00:27:29 | referring to. Like, it's already crossed over this gap here. It's already touched |
| 288 | 00:27:29 --> 00:27:34 | the low of it here, and dropped this one here. We went back and forth inside of |
| 289 | 00:27:34 --> 00:27:39 | it and left it came up constant crochet to the low. Well, that means it's done |
| 290 | 00:27:39 --> 00:27:43 | right? Just toss it out the window. It's already been used up. It's stale. Now |
| 291 | 00:27:43 --> 00:27:47 | that's what you're, you're, you're going to think that, like anybody else with |
| 292 | 00:27:47 --> 00:27:51 | they saw a gap fill in. Okay, what gaps done? Let's go look at something else. |
| 293 | 00:27:52 --> 00:27:55 | You don't want to do that. You absolutely don't want to do that, |
| 294 | 00:27:55 --> 00:28:01 | because the algorithm this price engine that pushes price. It's driven by these |
| 295 | 00:28:01 --> 00:28:07 | reference points. So what the algorithm does is it calls back to these points of |
| 296 | 00:28:07 --> 00:28:14 | reference based on time and price, what prices, the prices I showed you, what |
| 297 | 00:28:14 --> 00:28:18 | locations and what date, the ones I'm showing you here, and what I taught you, |
| 298 | 00:28:19 --> 00:28:24 | and what will happen is, you're going to learn to anticipate what's direction the |
| 299 | 00:28:24 --> 00:28:29 | market will push to before it happens. So the next stage in your understanding |
| 300 | 00:28:29 --> 00:28:33 | would be, if you're expecting price to reach up, why? Because you have a new |
| 301 | 00:28:33 --> 00:28:37 | day gap. Need to open a gap here, a new day opening gap here, and a new week |
| 302 | 00:28:37 --> 00:28:41 | opening gap up here, and we've already dropped down into a very deep discount |
| 303 | 00:28:41 --> 00:28:46 | relative to the price. Run from down here all the way up to what we did as a |
| 304 | 00:28:46 --> 00:28:54 | high on Wednesday. So we've dropped down. We're in a deep discount here. It |
| 305 | 00:28:54 --> 00:28:58 | rallies up, and then we're waiting for that news driver to come out to wreck |
| 306 | 00:28:58 --> 00:29:04 | retail, because they're going to play the breakout game. They don't have any |
| 307 | 00:29:04 --> 00:29:11 | idea what side the market is going to reach for. And the way you build |
| 308 | 00:29:11 --> 00:29:14 | confidence and trust in your trades is you have to do these types of exercises. |
| 309 | 00:29:15 --> 00:29:18 | Notice, no button was pushed. Notice, there's no trade idea. There's no worry |
| 310 | 00:29:18 --> 00:29:22 | about a stop loss. There's no worry about how many contracts to buy or sell, |
| 311 | 00:29:23 --> 00:29:30 | because you have to do this drill for weeks and months to overcome that fear |
| 312 | 00:29:30 --> 00:29:36 | of I'm going to get it wrong. How do you How can you trust it, the things I'm |
| 313 | 00:29:36 --> 00:29:40 | teaching you, how can you personally trust these things outside of my word |
| 314 | 00:29:40 --> 00:29:44 | saying it's it's good stuff, you should take my word for it. I'm telling you |
| 315 | 00:29:44 --> 00:29:48 | don't take my word. I don't want you to take my word for any of it. I want you |
| 316 | 00:29:48 --> 00:29:58 | to test it yourself, because you already see it's valid. The logic is there, and |
| 317 | 00:29:58 --> 00:30:02 | if you can't see that, you. You're denying it, or you didn't pay attention |
| 318 | 00:30:02 --> 00:30:06 | or take notes, because this is the, this is the exact thing I outlined yesterday, |
| 319 | 00:30:07 --> 00:30:11 | where you see the new day, new day opening gap, New Day opening gaps, |
| 320 | 00:30:11 --> 00:30:16 | plural and the new week opening gap. It's above where market price was right |
| 321 | 00:30:16 --> 00:30:22 | before that high impact news driver at 830 so what does that mean? Well, let's |
| 322 | 00:30:22 --> 00:30:29 | say it like this, if we would have seen price drop down, okay, and there was a |
| 323 | 00:30:29 --> 00:30:34 | much cleaner fair value gap in here, not the inversion fair value gap that's |
| 324 | 00:30:34 --> 00:30:39 | right there. If it would have had another cleaner fair value gap here, and |
| 325 | 00:30:39 --> 00:30:44 | if it would have dropped down initially at 830 that would then a potential for |
| 326 | 00:30:45 --> 00:30:48 | us to say, Okay, we would expect it to drop down to that fair value gap, and |
| 327 | 00:30:48 --> 00:30:57 | then expand up and reach into these gaps here, and maybe look real close there. |
| 328 | 00:30:59 --> 00:31:06 | Why there? Well, if you look at the range from this high, I'll fix that in a |
| 329 | 00:31:06 --> 00:31:15 | second. It's always in the wrong place. Does that ever happen to you? This box |
| 330 | 00:31:15 --> 00:31:18 | always pops up right where I need to be adjusting something. So here we have the |
| 331 | 00:31:18 --> 00:31:27 | high down the low, and where is that? 50% there. It is right there. 50% level |
| 332 | 00:31:27 --> 00:31:33 | there. So above this level, we have this gap here, which is what it's we've |
| 333 | 00:31:33 --> 00:31:36 | already traded to. But this one here, I like that one because it's also inside |
| 334 | 00:31:36 --> 00:31:41 | of a breaker. See that now? |
| 335 | 00:31:42 --> 00:31:47 | If we're using this reference point, do you remember when I taught you about the |
| 336 | 00:31:47 --> 00:31:53 | breakers? What did I teach you about the breakers? I'll give you a minute and get |
| 337 | 00:31:53 --> 00:32:01 | a drink real quick. It should be in your notes. If you have a breaker, which is a |
| 338 | 00:32:01 --> 00:32:07 | high, low, higher high that blows out the buy side liquidity during the run |
| 339 | 00:32:07 --> 00:32:10 | up, if you have a fair value gap in there, that's the one you want to focus |
| 340 | 00:32:10 --> 00:32:14 | on. And you don't want to focus on just the down closed candles that make the |
| 341 | 00:32:14 --> 00:32:19 | last bit of turn before the rally up, because this is technically your bearish |
| 342 | 00:32:19 --> 00:32:26 | breaker here. But if you have a gap like that right there, that one could be a |
| 343 | 00:32:26 --> 00:32:34 | potential inversion, fair Vega, so you have to highlight that and extend it |
| 344 | 00:32:34 --> 00:32:41 | over. So we have this PDA right here, the breaker and the potential inversion |
| 345 | 00:32:41 --> 00:32:48 | fair Vega that could draw price up to that, meaning that what we see here, |
| 346 | 00:32:48 --> 00:32:55 | this was indicating the likely direction it would trade up to. And you have to |
| 347 | 00:32:55 --> 00:33:00 | appreciate in the beginning and not punish yourself or tell yourself, this |
| 348 | 00:33:00 --> 00:33:04 | isn't doing it. I'm not making any money doing this. This is foolishness. There |
| 349 | 00:33:04 --> 00:33:07 | should be a button being pushed. There should be a stop loss recommended, or |
| 350 | 00:33:07 --> 00:33:12 | something like that. You don't get to that level with confidence being able to |
| 351 | 00:33:12 --> 00:33:15 | take the trade and hold on to a trade and not get scared out of it or put a |
| 352 | 00:33:15 --> 00:33:19 | stop loss in the wrong place, until you do these types of things, and you have |
| 353 | 00:33:19 --> 00:33:25 | to do it daily for weeks and months, and then you overcome that fear of I don't |
| 354 | 00:33:25 --> 00:33:28 | know what's going to do, but I'm willing to press the button because I see |
| 355 | 00:33:28 --> 00:33:31 | somebody on the live stream or ICT talked about something, they talked |
| 356 | 00:33:31 --> 00:33:34 | about a specific level. That means it's going to go right there right away. No, |
| 357 | 00:33:34 --> 00:33:38 | that's where my interest is. And I want to then look for evidences and signs in |
| 358 | 00:33:38 --> 00:33:43 | press delivery that it's going to probably reach there. But the first step |
| 359 | 00:33:43 --> 00:33:47 | in you determining the direction or bias Caleb is when you're looking at when the |
| 360 | 00:33:47 --> 00:33:51 | market's about to move, which is 830 news driver. Even if there isn't any |
| 361 | 00:33:51 --> 00:33:55 | news, you still look for these same signatures here. It just means that if |
| 362 | 00:33:55 --> 00:34:02 | there's a high impact or a medium impact news report due at 830 then it's going |
| 363 | 00:34:02 --> 00:34:09 | to be a much more significant more the magnitude of the move and the speed of |
| 364 | 00:34:09 --> 00:34:13 | the move will be that much more prevalent, because there is a higher, |
| 365 | 00:34:13 --> 00:34:18 | medium impact news driver. If there is none, then we'll just start to see |
| 366 | 00:34:18 --> 00:34:23 | prices start to move up to these levels. Okay, it's not 100% but out of 100% |
| 367 | 00:34:24 --> 00:34:28 | you're probably in 80% or higher. That that's the right direction initially. So |
| 368 | 00:34:28 --> 00:34:31 | if you're a scalper, if you're looking for something to get in there and just |
| 369 | 00:34:31 --> 00:34:38 | make a run on some movement in handles and or in forex pips, this is what you |
| 370 | 00:34:38 --> 00:34:42 | do. Okay, you look for these types of signatures, these evidences that the |
| 371 | 00:34:42 --> 00:34:47 | market is going to want to do this type of thing, and it gravitates to it. It's |
| 372 | 00:34:47 --> 00:34:53 | like a magnet pooling price there. Okay, so I just want to real quick add these |
| 373 | 00:34:53 --> 00:34:58 | things on the chart, just as lipstick. I'll do this. I'm. |
| 374 | 00:35:04 --> 00:35:09 | And we'll do this |
| 375 | 00:35:18 --> 00:35:21 | whenever you see a fair value you got this highlighted in this shade of |
| 376 | 00:35:21 --> 00:35:27 | orange. That's that's my way of reminding myself, as I'm talking to my |
| 377 | 00:35:27 --> 00:35:32 | son, or you if I'm in a video, or if I share a trade, you should already know |
| 378 | 00:35:32 --> 00:35:37 | that I'm viewing that as an inversion. So if the market creates it as a buy |
| 379 | 00:35:37 --> 00:35:41 | side and balance sales on efficiency, and it rallies up for someone that just |
| 380 | 00:35:41 --> 00:35:44 | watches a five minute trainer video from somebody else that watches my stuff and |
| 381 | 00:35:44 --> 00:35:48 | thinks they understand it, or watches me do something with a concept of |
| 382 | 00:35:49 --> 00:35:52 | introduced, they'll think, Okay, well, this, when it drops back down here, |
| 383 | 00:35:52 --> 00:35:57 | that's a buy. No, it's not. No, it's not. All we did was go up and did a new |
| 384 | 00:35:57 --> 00:36:01 | week, opening gap, traded at a high, wick through it a few times, doing the |
| 385 | 00:36:01 --> 00:36:08 | damage, and then we displace lower. That's not a buy, okay, so with that, we |
| 386 | 00:36:08 --> 00:36:10 | can now go into |
| 387 | 00:36:14 --> 00:36:16 | where's my lower charts I'm |
| 388 | 00:36:22 --> 00:36:24 | Let me maximize this one. |
| 389 | 00:36:27 --> 00:36:29 | So here's a 15 second chart. And |
| 390 | 00:36:34 --> 00:36:41 | there's some of you don't have the ability to see this real time, but |
| 391 | 00:36:41 --> 00:36:49 | here's 830 right there. Bang. It opens and quickly runs in 15 seconds, the |
| 392 | 00:36:49 --> 00:36:59 | market travels from 17,009 86 and three quarters to 18,089 huge, huge amount of |
| 393 | 00:36:59 --> 00:37:04 | displacement. And if you don't know what you're doing and you're gambling that |
| 394 | 00:37:04 --> 00:37:07 | type of run, especially if you're trying to do these funded account company |
| 395 | 00:37:07 --> 00:37:11 | challenges, and they're offering you a maximum five contracts on their on their |
| 396 | 00:37:11 --> 00:37:17 | lowest thing, and your risk is is maximum 3000 Don't hold me these |
| 397 | 00:37:17 --> 00:37:20 | numbers. I just I'm just trying to remember what Cameron and Caleb were |
| 398 | 00:37:20 --> 00:37:24 | having to deal with when they were trying to do these things. But I think |
| 399 | 00:37:24 --> 00:37:27 | it's $3,000 if it's if it's not something close to that, but they |
| 400 | 00:37:27 --> 00:37:32 | offered like, you can trade with five contracts, or on the larger ones, you |
| 401 | 00:37:32 --> 00:37:36 | can trade with 15 contracts, and that's guaranteeing you're going to blow out. |
| 402 | 00:37:36 --> 00:37:39 | And then you have to pay a reset fee, and they don't have to pay you out |
| 403 | 00:37:39 --> 00:37:43 | anything, because you you you failed. So you just keep paying the transaction |
| 404 | 00:37:43 --> 00:37:48 | fees, and that's how they make their money. Well, on the 15 second chart, we |
| 405 | 00:37:48 --> 00:37:55 | can see it. It runs into Wednesday's New Day opening gap, Tuesday's New Day |
| 406 | 00:37:55 --> 00:38:02 | opening gap, and then we have this fairway gap that is above equilibrium on |
| 407 | 00:38:02 --> 00:38:05 | the price run that's dropped since Wednesday's high. |
| 408 | 00:38:12 --> 00:38:17 | And here we have price rally up, come back down. Look at the overlapping of |
| 409 | 00:38:17 --> 00:38:23 | this candles high, and the next calendar we open, we trade down. Where's the |
| 410 | 00:38:23 --> 00:38:27 | trade to consequent encroachment on Wednesday's New Day opening gap, you see |
| 411 | 00:38:27 --> 00:38:32 | that that's this level right here. It touches it right there, and then rallies |
| 412 | 00:38:32 --> 00:38:37 | leaving. What a fair value gap. What kind this is a buy side and balance sell |
| 413 | 00:38:37 --> 00:38:40 | side and efficiency. So if it's likely to keep going higher, because it's going |
| 414 | 00:38:40 --> 00:38:45 | to dig into this one and maybe reach into this level. We don't need to know |
| 415 | 00:38:45 --> 00:38:50 | right away, but because we have this potential new day opening gap, we can |
| 416 | 00:38:50 --> 00:38:54 | draw up into there's range between trading on this fair value gap and |
| 417 | 00:38:54 --> 00:39:01 | reprice two. And how far can it overshoot this gap? We'll look at the |
| 418 | 00:39:01 --> 00:39:06 | overlapping of here, where this body and this body agree the top of that one and |
| 419 | 00:39:06 --> 00:39:12 | the low of that one. That right there is a PD array, one of the 81 that |
| 420 | 00:39:12 --> 00:39:17 | supposedly, I don't have it can touch that perfectly. What's the open on that |
| 421 | 00:39:19 --> 00:39:26 | 18,081 and a half, what's the low on that candle? 18,081 and a half, perfect, |
| 422 | 00:39:27 --> 00:39:35 | perfect. And then it rallies. What does it create? Small, little volume and |
| 423 | 00:39:35 --> 00:39:41 | bounce inside of and real close to, what? What's, what's between these two |
| 424 | 00:39:41 --> 00:39:51 | levels here I sound a balance sell side inefficiency. So we want to see it form |
| 425 | 00:39:51 --> 00:39:55 | support, or an inability trade to the midpoint of it. Or if it does, it needs |
| 426 | 00:39:55 --> 00:39:58 | to repel it immediately. That looks like this. I'm. |
| 427 | 00:40:01 --> 00:40:03 | I see every time I do that, it jumps. |
| 428 | 00:40:07 --> 00:40:14 | So here's consequent approachency. We trade down to some random quadrant |
| 429 | 00:40:14 --> 00:40:21 | level. See that, and then what does it do? It routes. This is good. This is |
| 430 | 00:40:21 --> 00:40:25 | good because it leaves this volume and balance open, and it doesn't come back |
| 431 | 00:40:25 --> 00:40:31 | down to the midpoint and starts around then the market creates every little |
| 432 | 00:40:31 --> 00:40:36 | down close candle needs to support price, because that means it's acting as |
| 433 | 00:40:36 --> 00:40:40 | a bullish order block, until we get above here, and it does, and trace it a |
| 434 | 00:40:40 --> 00:40:44 | higher that New Day opening gap on Tuesday, which you derive that |
| 435 | 00:40:44 --> 00:40:48 | information from Monday at 6pm and the difference between Monday at 5pm to |
| 436 | 00:40:48 --> 00:40:54 | closing price market trades back down into down closed candles here, just |
| 437 | 00:40:54 --> 00:41:00 | outside of the Tuesday's New Day opening got low, hammering around back, back and |
| 438 | 00:41:00 --> 00:41:06 | forth inside here, if this falters and fails and goes below this candle is low |
| 439 | 00:41:08 --> 00:41:15 | to me, stand aside until 930 opening. Don't try to Mickey Mouse and play games |
| 440 | 00:41:15 --> 00:41:20 | with it, because it probably hurt you. I'm I |
| 441 | 00:41:27 --> 00:41:30 | challenge figure out what this level was here. |
| 442 | 00:41:39 --> 00:41:43 | It's the midpoint of the overall range. So I was like, Oh, what is that line? |
| 443 | 00:41:45 --> 00:41:55 | It's the measurement of that high on Wednesday to the low of yesterday. So |
| 444 | 00:41:56 --> 00:42:01 | distracting. But while you have these levels in mind, and when they're in |
| 445 | 00:42:01 --> 00:42:08 | close proximity, you want to have these on your chart for trade purposes. You |
| 446 | 00:42:09 --> 00:42:11 | don't have to have every single one of them on your chart that you're going to |
| 447 | 00:42:11 --> 00:42:14 | operate on. So again, as I was mentioning yesterday, you want to see |
| 448 | 00:42:14 --> 00:42:21 | them on a layout that you can refer back to that's outside of your operating |
| 449 | 00:42:21 --> 00:42:27 | trading layout. So over here, like where I have live trading this, this could be |
| 450 | 00:42:28 --> 00:42:37 | labeled as New Day opening gap template, okay, or it could be new week opening |
| 451 | 00:42:37 --> 00:42:40 | gaps and New Day opening gaps. If you want to have a lot of stuff on your |
| 452 | 00:42:40 --> 00:42:43 | chart and you're comfortable with navigating all that, you can navigating |
| 453 | 00:42:43 --> 00:42:46 | all that you can put them both on there. I personally don't recommend doing that, |
| 454 | 00:42:46 --> 00:42:51 | but, you know, I'm affording you your own personality to be implemented here. |
| 455 | 00:42:51 --> 00:42:56 | So I'm not trying to say this is the best way to do it. It's up to you how |
| 456 | 00:42:56 --> 00:42:59 | you want to annotate your charts. I'm just saying that this is how I'm |
| 457 | 00:42:59 --> 00:43:04 | coaching my son to do it. So that way his charts will look easy to me and |
| 458 | 00:43:04 --> 00:43:08 | understanding what he saw annotating, because it's something I've instructed |
| 459 | 00:43:08 --> 00:43:12 | him to do this way. So That way we're not trying to make it harder for me, |
| 460 | 00:43:12 --> 00:43:20 | because I'm a little older and can tankers now being 52 so here we have a |
| 461 | 00:43:20 --> 00:43:22 | potential, immediate rebalance. |
| 462 | 00:43:38 --> 00:43:46 | Yeah, my bones are telling me I'm 52 today. I All right, so the initial run |
| 463 | 00:43:47 --> 00:43:52 | from 830 unless you were already positioned long from early on, and |
| 464 | 00:43:52 --> 00:43:57 | you're just using it for a momentum run, like trying to get to a higher Time |
| 465 | 00:43:57 --> 00:44:03 | Frame objective, above the marketplace, your ability to get into move, you know, |
| 466 | 00:44:03 --> 00:44:08 | move like 100 handles in just like 15 seconds. You're not, you're not going to |
| 467 | 00:44:08 --> 00:44:14 | be able to pull that off, okay, using the ideas that just outlined when you're |
| 468 | 00:44:14 --> 00:44:17 | in the 15 second chart. That's the closest thing that could have been |
| 469 | 00:44:17 --> 00:44:21 | implemented for me, and I'm ICT, so that's the, that's the best I could have |
| 470 | 00:44:21 --> 00:44:26 | pulled off using the information that, as I taught yesterday, that draw would |
| 471 | 00:44:26 --> 00:44:32 | be deciphered and determined based on where the market was at right before the |
| 472 | 00:44:32 --> 00:44:38 | news driver hits, and then that means I have more probability that the market's |
| 473 | 00:44:38 --> 00:44:42 | going to expand higher. Why? Because I taught you yesterday. Go back and listen |
| 474 | 00:44:42 --> 00:44:47 | to it again. If you didn't listen to it, go in and listen to how I explained. If |
| 475 | 00:44:47 --> 00:44:53 | you start looking at a chart or a layout that has these new day opening gaps, and |
| 476 | 00:44:53 --> 00:44:57 | you start seeing clustering above it, above wherever you're at, waiting for a |
| 477 | 00:44:57 --> 00:45:04 | setup to form. When. Between seven o'clock, eight o'clock and nine o'clock? |
| 478 | 00:45:04 --> 00:45:08 | Well, we have a sweet little cherry on top with the fact that we have a news |
| 479 | 00:45:08 --> 00:45:11 | driver today at 830 so that means the attention and focus is going to be. |
| 480 | 00:45:11 --> 00:45:15 | Where is it going to be in the first 30 minutes of seven o'clock, Eastern Time? |
| 481 | 00:45:16 --> 00:45:21 | No, it's going to be ahead of eight o'clock. No, it's going to be right at |
| 482 | 00:45:21 --> 00:45:27 | 830 why? Because the economic calendar is your TV Guide to the next important |
| 483 | 00:45:27 --> 00:45:33 | event to watch on TV. Okay, so we're watching price like television. Our |
| 484 | 00:45:33 --> 00:45:38 | interest is peak wind at 830 because the new driver is going to happen and that |
| 485 | 00:45:38 --> 00:45:43 | volatility that will be introduced. Why? Because the market is going to spoil. |
| 486 | 00:45:43 --> 00:45:51 | It's going to run real quick. Look at your time and sales data. At 830 look at |
| 487 | 00:45:51 --> 00:45:59 | it at 829, at 828-820-7825. How much buying was taking place there? How much |
| 488 | 00:45:59 --> 00:46:08 | buying took place in the run up in this just one single candle at 830 you're not |
| 489 | 00:46:08 --> 00:46:13 | going to see a an exorbitant number of contracts. It's the fact that it's being |
| 490 | 00:46:13 --> 00:46:17 | repriced there aggressively. So how's that happening? The price engines. |
| 491 | 00:46:17 --> 00:46:22 | That's an algorithmic artifact. It's it's something that is driven by |
| 492 | 00:46:22 --> 00:46:28 | automation. It matters not how many buying of of the asset or contracts, or |
| 493 | 00:46:28 --> 00:46:31 | if it's a stock, it doesn't matter how many shares are being bought. It's going |
| 494 | 00:46:31 --> 00:46:37 | to be pushed up there, and then when it's at these lofty price levels, then |
| 495 | 00:46:38 --> 00:46:43 | it's your it's your task to see, does it justify being there? And if there's |
| 496 | 00:46:43 --> 00:46:48 | reasons to see it sustain a run higher, then you don't look at anything that |
| 497 | 00:46:48 --> 00:46:53 | would otherwise look like a reversal pattern. You cancel that out, and you |
| 498 | 00:46:53 --> 00:46:58 | look for continuation, which is very, very hard to do when you're brand new. |
| 499 | 00:47:00 --> 00:47:06 | When you look at runs like this, it's hard not to feel like, okay, I'm looking |
| 500 | 00:47:06 --> 00:47:11 | at indicators, and it's all these divergences bearishly, so I'm afraid to |
| 501 | 00:47:11 --> 00:47:16 | do anything going long. And when you're brand new and you don't know anything at |
| 502 | 00:47:16 --> 00:47:21 | all, that's why it's important to not have any opinion. So the only thing you |
| 503 | 00:47:21 --> 00:47:25 | can do is, in the beginning, you annotate your chart, as I annotate |
| 504 | 00:47:25 --> 00:47:30 | indicated for you here, and then you study it, and you watch it, and you |
| 505 | 00:47:30 --> 00:47:34 | observe. And when you see things that are interesting, you screenshot it and |
| 506 | 00:47:35 --> 00:47:39 | make a quick note. You have to have a pad and a pen or pencil next to you, and |
| 507 | 00:47:39 --> 00:47:44 | you write down, you know, the screenshot I took at 857 you know, on the one |
| 508 | 00:47:44 --> 00:47:49 | minute chart, you know, what was your concern there? There's a fair value gap |
| 509 | 00:47:49 --> 00:47:52 | here. It was like a buy side of balance sales and efficiency. And there's a fair |
| 510 | 00:47:52 --> 00:47:56 | value gap a little bit higher in price. Is it going to go into this and then |
| 511 | 00:47:56 --> 00:48:01 | propel up into this level here? Is it going to do that? Is it going to do it |
| 512 | 00:48:01 --> 00:48:05 | before 930 or does it want to retrace and clean up these relative equal lows, |
| 513 | 00:48:05 --> 00:48:09 | disrupt that and then run up there? Or does it completely fall out of bed and |
| 514 | 00:48:09 --> 00:48:14 | trade back down into this imbalance here to the low of Wednesday's new date |
| 515 | 00:48:14 --> 00:48:18 | opening gap? See, these are all questions when you're brand new. These |
| 516 | 00:48:18 --> 00:48:23 | are all things that you can study and you have no monetary risk involved. And |
| 517 | 00:48:23 --> 00:48:27 | by doing these types of things, it it desensitizes yourself to needing to be |
| 518 | 00:48:27 --> 00:48:30 | right in the beginning, because you're not going to be right. You don't know |
| 519 | 00:48:30 --> 00:48:35 | what what you're going to see you're learning. And by watching price do these |
| 520 | 00:48:35 --> 00:48:40 | things day after day, week after week, for months, you're going to pick up on |
| 521 | 00:48:40 --> 00:48:45 | things that I've talked about in lectures, but it didn't mean anything to |
| 522 | 00:48:45 --> 00:48:52 | you because you haven't saw price action repeat. You haven't seen it repeat |
| 523 | 00:48:52 --> 00:48:56 | rather over and over and over again, and then it means something to you. It |
| 524 | 00:48:56 --> 00:49:00 | resonates with you then, whereas right now, you don't know what it's doing. You |
| 525 | 00:49:00 --> 00:49:04 | don't know what to expect. If I had nothing on my charts, it would be, it |
| 526 | 00:49:04 --> 00:49:07 | would be completely alien to you. Wouldn't have any idea what it what's |
| 527 | 00:49:07 --> 00:49:11 | what's it trying to do. Why would it have gone up here? If I wouldn't have |
| 528 | 00:49:11 --> 00:49:16 | gave you that lecture yesterday in a live stream, you could not sit here in |
| 529 | 00:49:16 --> 00:49:19 | agreement and say, Yeah, this is what you said yesterday. This is what it will |
| 530 | 00:49:19 --> 00:49:25 | likely do, and this is what it did. Okay? So now, what do you do with it |
| 531 | 00:49:25 --> 00:49:32 | when the market has already traded in a manner where it has then set up the |
| 532 | 00:49:32 --> 00:49:38 | likelihood that, if it's bullish, okay, if it's going to likely press into an |
| 533 | 00:49:38 --> 00:49:42 | area above the marketplace where you're watching price form a potential setup. |
| 534 | 00:49:42 --> 00:49:47 | In other words, the key times when you're hunting a setup, what happens if |
| 535 | 00:49:47 --> 00:49:52 | it would have done something where it at 825 it had dropped down into a fair |
| 536 | 00:49:52 --> 00:50:00 | value gap, and then going into 830 what would have been potentially. Available |
| 537 | 00:50:00 --> 00:50:06 | to you. You could have traded into that news data as it dropped down to the fair |
| 538 | 00:50:06 --> 00:50:13 | value gap, buying that anticipating this type of run, but because we were between |
| 539 | 00:50:13 --> 00:50:17 | two new day opening gaps, and there was no real inefficiency to think of in |
| 540 | 00:50:17 --> 00:50:22 | terms of trusting it. Yeah, you had a bias that's based on what I taught |
| 541 | 00:50:22 --> 00:50:28 | yesterday, that it would likely go higher. But as a new developing student |
| 542 | 00:50:28 --> 00:50:32 | or trader, you don't want to gamble on that, because you're like, just saying, |
| 543 | 00:50:32 --> 00:50:36 | Okay, I want to test this theory, and if it's good, I'm going to make money on |
| 544 | 00:50:36 --> 00:50:41 | it. But you have to understand that if you're testing this, and you're |
| 545 | 00:50:41 --> 00:50:45 | observing it, and you're doing practice drills with watching price action tape, |
| 546 | 00:50:45 --> 00:50:48 | reading it. You're not even demo trading it. There's no paper trade execution. |
| 547 | 00:50:49 --> 00:50:53 | You're teaching yourself to trust your anticipatory price reading skills. |
| 548 | 00:50:54 --> 00:50:58 | Reading price, anticipating that it's going to behave a certain way. You can't |
| 549 | 00:50:58 --> 00:51:03 | rush this part of it. You gotta watch it, see it. And this is the part of the |
| 550 | 00:51:03 --> 00:51:11 | walk forward. So three, two and one. Lecture of this mentorship is basically |
| 551 | 00:51:12 --> 00:51:16 | the back testing, how to log, how to look for certain things and observe how |
| 552 | 00:51:16 --> 00:51:21 | the market behaves. This is what you're doing when you're walking forward. So |
| 553 | 00:51:21 --> 00:51:24 | that way, if you're a little bit further along in understanding, you don't have |
| 554 | 00:51:24 --> 00:51:29 | to go at the snail pace that I'm forcing Caleb to go through because he doesn't |
| 555 | 00:51:29 --> 00:51:34 | have this silk, this skill set strong enough, yet nowhere near where most of |
| 556 | 00:51:34 --> 00:51:38 | my students had been with him for a while. They could read price action |
| 557 | 00:51:38 --> 00:51:41 | better than him. Just because he's my son doesn't make him better than |
| 558 | 00:51:41 --> 00:51:46 | majority of you. He really isn't that good, but he's he's making an effort to |
| 559 | 00:51:46 --> 00:51:51 | get good at it, so that way he can make money and and, you know, carve out his |
| 560 | 00:51:51 --> 00:51:59 | way with actual trades and not rely only on his income. So this is like a |
| 561 | 00:51:59 --> 00:52:03 | beginning. This this lecture and Friday's lecture again, will be all |
| 562 | 00:52:03 --> 00:52:07 | based on walking forward, what you're supposed to be doing, what you're |
| 563 | 00:52:07 --> 00:52:11 | supposed to be looking for, how to weigh out factors that will help build a |
| 564 | 00:52:11 --> 00:52:19 | routine or guidance that helps you refer to it as a process or procedure. This is |
| 565 | 00:52:19 --> 00:52:23 | what we do every time we sit in front of the charts, we start like this. We look |
| 566 | 00:52:23 --> 00:52:29 | for things like this, and then we take the experience of watching it, logging |
| 567 | 00:52:29 --> 00:52:36 | it. And when you do that, what are you doing? You're making price action the |
| 568 | 00:52:36 --> 00:52:42 | same thing as if you went out and bought a brand new Ashton Martin or a new |
| 569 | 00:52:42 --> 00:52:48 | rolls, Royce, ghost or Wraith, or Lamborghini or Bugatti, or whatever, |
| 570 | 00:52:48 --> 00:52:50 | whatever car that tickles your fancy. |
| 571 | 00:52:52 --> 00:52:56 | Suddenly, your eye is keyed up on that car, and you're when you see it out in |
| 572 | 00:52:56 --> 00:53:00 | public. If someone else has it again, you'll say, Wow, that's my car. Or |
| 573 | 00:53:00 --> 00:53:04 | that's like my car, they must have bought one when I bought one. And it's |
| 574 | 00:53:04 --> 00:53:08 | just because now you've made it significant to you. You've opened up |
| 575 | 00:53:08 --> 00:53:12 | your mind and activated your reticular activating system, meaning that you've |
| 576 | 00:53:12 --> 00:53:18 | added significance to this. You've added significance to reading price when it |
| 577 | 00:53:18 --> 00:53:22 | makes these certain things or these characteristics. And therefore, because |
| 578 | 00:53:22 --> 00:53:27 | you're journaling them, you're continuously adding significance to the |
| 579 | 00:53:27 --> 00:53:31 | importance of understanding what these formations at the time of day that they |
| 580 | 00:53:31 --> 00:53:35 | form. What do you think is going to happen when you look at a new chart, |
| 581 | 00:53:35 --> 00:53:39 | when it's ticking real time? You're going to notice your your you're going |
| 582 | 00:53:39 --> 00:53:42 | to notice your car, right? You're going to notice your setup, your pattern, the |
| 583 | 00:53:42 --> 00:53:47 | thing that you have built affinity for and around because you have spent time |
| 584 | 00:53:47 --> 00:53:51 | caring about it by journaling. Now, if you're just going to sit back and and |
| 585 | 00:53:51 --> 00:53:56 | have an attitude that has, yeah, I know it's four minutes after nine, I got to |
| 586 | 00:53:56 --> 00:54:01 | get this part out entirely. And I'm I'm going to hope my wife's grace is a |
| 587 | 00:54:01 --> 00:54:05 | little bit more lenient, because it's my birthday, but I have to make this point, |
| 588 | 00:54:06 --> 00:54:09 | the fact that you're watching price and you're journaling it, not just looking |
| 589 | 00:54:09 --> 00:54:14 | at it blindly like a deer in headlights, confused and scared and wondering what |
| 590 | 00:54:14 --> 00:54:18 | it's going to do and or not pressing the button to try to chase a price run. |
| 591 | 00:54:18 --> 00:54:25 | You're looking at it with the intent, purpose of logging things that are |
| 592 | 00:54:25 --> 00:54:30 | important to you that you want to study and see if it pans out. And you're |
| 593 | 00:54:30 --> 00:54:36 | noticing how fast the price runs move if they fail. What did it look like before |
| 594 | 00:54:36 --> 00:54:41 | it fails? And how much does it how much does it run against you before it |
| 595 | 00:54:41 --> 00:54:46 | delivers to where you studied to see if it can reach for now, I have this fair |
| 596 | 00:54:46 --> 00:54:53 | value gap up here, and it may not get there. If it doesn't get there, I don't |
| 597 | 00:54:53 --> 00:54:58 | care, because the idea of the lecture and the thought process behind |
| 598 | 00:54:58 --> 00:55:02 | yesterday's teaching deliver. Are like gangbusters today, right in front of you |
| 599 | 00:55:02 --> 00:55:07 | in a live stream, the side of the marketplace that I gave you the rules on |
| 600 | 00:55:07 --> 00:55:14 | yesterday, the guidance, the process and protocol delivered today. There was no |
| 601 | 00:55:14 --> 00:55:19 | reason to enter beforehand, because it was not in an area where it could be |
| 602 | 00:55:19 --> 00:55:25 | trusted, and there wasn't any drop down rate before 830 which would have been a |
| 603 | 00:55:25 --> 00:55:28 | little bit more indicative of, okay, that would be where I would trade. I |
| 604 | 00:55:28 --> 00:55:33 | would I would trade in that because I anticipate the market wants to trade up |
| 605 | 00:55:33 --> 00:55:37 | into these inefficiencies that have already been crossed over by price |
| 606 | 00:55:37 --> 00:55:42 | action. So again, we're not doing supply and demand. We're not trading support |
| 607 | 00:55:42 --> 00:55:47 | and resistance. We're trading old reference points in inefficiency for the |
| 608 | 00:55:47 --> 00:55:54 | express purpose of seeing it engage and liquidate traders. That's liquidity. |
| 609 | 00:55:55 --> 00:55:59 | Where has the money been made prior to 830 where's the money been made? Being |
| 610 | 00:55:59 --> 00:56:08 | short. So if there is a huge bias to the market wanting to reach up into where |
| 611 | 00:56:08 --> 00:56:11 | the new day opening gaps are and a new week opening gap, what does that mean? |
| 612 | 00:56:12 --> 00:56:15 | The pain is going to be placed on the shorts, and that means the market's |
| 613 | 00:56:15 --> 00:56:20 | going to rally. You may or may not have an opportunity to get involved in it, |
| 614 | 00:56:20 --> 00:56:24 | and when it starts off as it did right before 830 that's one where you just |
| 615 | 00:56:24 --> 00:56:28 | simply have to wait, and you drop down into a 15 second chart, and then you |
| 616 | 00:56:28 --> 00:56:33 | trade the the inefficiencies and or the First Order block that will support that |
| 617 | 00:56:33 --> 00:56:39 | idea, in this case, is likely go up into the Tuesday, New day, new day opening |
| 618 | 00:56:39 --> 00:56:44 | gap, which it's done. It's working above it here, it still might fail. It still |
| 619 | 00:56:44 --> 00:56:48 | could very well fail and go down back into Wednesday's New Day, opening gap |
| 620 | 00:56:48 --> 00:56:53 | high, perfectly reasonable. It could still do that, and then still trade |
| 621 | 00:56:53 --> 00:56:58 | after 930 and trade up to here. It could do that. So all these things come with |
| 622 | 00:56:58 --> 00:57:02 | experience and weighing out. Okay, what's the probability? What time is it |
| 623 | 00:57:02 --> 00:57:09 | right now? It's seven minutes after nine. Is that? Is that conducive for a |
| 624 | 00:57:09 --> 00:57:15 | significant, sharp price run? When you have, in 22 minutes or so, the opening |
| 625 | 00:57:15 --> 00:57:19 | bell, we're going to have that initial volatility, and you have the opening |
| 626 | 00:57:19 --> 00:57:23 | range of 30 minutes that could easily trade all the way back down here and |
| 627 | 00:57:23 --> 00:57:27 | give the impression that it's completely failed and fell on out of bed, and it |
| 628 | 00:57:27 --> 00:57:31 | could never go back up here to this high again, and it could rip their face off, |
| 629 | 00:57:31 --> 00:57:35 | for anyone that tries to fade that. So it's a whole lot of it's like I've said |
| 630 | 00:57:35 --> 00:57:40 | it before when I was doing Twitter spaces and and other lectures too. It's |
| 631 | 00:57:40 --> 00:57:45 | many times like plate spinning. And it's usually where a guy has a dowel rod, a |
| 632 | 00:57:45 --> 00:57:50 | wooden dowel rod, and plates, china plates, and he spends the plate on top |
| 633 | 00:57:50 --> 00:57:54 | this single dowel rod. And he has like 2030, of them gone on the stage, and he |
| 634 | 00:57:54 --> 00:57:57 | has to constantly run around to the ones that are starting to slow down, and he |
| 635 | 00:57:57 --> 00:58:01 | don't want anything to fall and break. That's what you're doing. In the |
| 636 | 00:58:01 --> 00:58:06 | beginning, you feel like a plate spinner because you're trying to find the end |
| 637 | 00:58:06 --> 00:58:10 | that's profitable, but you don't want to break any plates in the process. When |
| 638 | 00:58:10 --> 00:58:12 | I'm telling you, it's like making an omelet, you're going to have to break |
| 639 | 00:58:12 --> 00:58:16 | some eggs for you to understand how to make a good omelet. You got to break |
| 640 | 00:58:16 --> 00:58:21 | them, and you have to screw up a few times. And that's where your learning |
| 641 | 00:58:21 --> 00:58:23 | comes from. A good see, in the beginning, you're thinking, I got to |
| 642 | 00:58:23 --> 00:58:28 | avoid losing, that's, that's, that's success, that's winning. I have to avoid |
| 643 | 00:58:28 --> 00:58:32 | doing it wrong, otherwise I'm going to fail. And I'm telling you, you have to |
| 644 | 00:58:32 --> 00:58:36 | fail in the beginning to see what you're doing wrong and not look at it as a way |
| 645 | 00:58:36 --> 00:58:42 | of, oh, I'm never going to get there. I failed a lot. I've done a lot of things |
| 646 | 00:58:42 --> 00:58:45 | in the beginning where I thought for sure this was going to this was going to |
| 647 | 00:58:45 --> 00:58:51 | be the thing, and that indicator didn't lend me anything but more drawdown. I |
| 648 | 00:58:51 --> 00:58:56 | would try a new, new study method, or I would follow somebody that was hot and |
| 649 | 00:58:56 --> 00:59:01 | important back then in the 90s, and I would lose money with Larry Williams |
| 650 | 00:59:01 --> 00:59:07 | stuff, you know, I tried to do his, his one 900 you know, his calls for the S, P |
| 651 | 00:59:07 --> 00:59:12 | in the bond market, and I would lose money, you know, I personally couldn't |
| 652 | 00:59:12 --> 00:59:15 | make it work for me. That's all I'm saying. And does that mean that he |
| 653 | 00:59:15 --> 00:59:18 | didn't make money using it? No, it just means that when I tried to use it for |
| 654 | 00:59:18 --> 00:59:25 | myself, I couldn't make it work. So because of that, I didn't stick with it. |
| 655 | 00:59:27 --> 00:59:30 | I would do a couple weeks, and with the I wouldn't do anything with it. |
| 656 | 00:59:30 --> 00:59:34 | Basically what most of my students, when they first come here, they try to they |
| 657 | 00:59:34 --> 00:59:37 | listen to the lectures, they hear me talk and cheerlead them on. They like, |
| 658 | 00:59:37 --> 00:59:40 | Hey, this guy can really talk a good game. I'm inspired. I'm gonna go out |
| 659 | 00:59:40 --> 00:59:44 | there and run out there and get successful, and then they realize, oh, |
| 660 | 00:59:44 --> 00:59:48 | this is kind of boring, like this. This is not all that exciting. I gotta do all |
| 661 | 00:59:48 --> 00:59:52 | this, man, there's gotta be an easier way to make money. And then they start |
| 662 | 00:59:52 --> 00:59:56 | looking at people that have indicators or signal services or whatnot. And then |
| 663 | 00:59:56 --> 01:00:02 | they do the very thing that I did when I was 20. My impatience got the better of |
| 664 | 01:00:02 --> 01:00:06 | me, and I just wanted to make money. And I'm telling you, that's not how you do |
| 665 | 01:00:06 --> 01:00:12 | it. It sounds counterintuitive and counterproductive, but you have to do |
| 666 | 01:00:12 --> 01:00:17 | these things here, and then once you get the skill set and knowing that you can |
| 667 | 01:00:17 --> 01:00:23 | trust yourself and you can read price action, no one can take it from you if |
| 668 | 01:00:23 --> 01:00:27 | you make a mistake, or if you if you do a trade incorrectly and you made it |
| 669 | 01:00:27 --> 01:00:32 | public, you they might troll you for that trade, but they that doesn't strip |
| 670 | 01:00:32 --> 01:00:37 | you of your ability or prowess to be able to do again and profitably and |
| 671 | 01:00:37 --> 01:00:40 | mitigate that drawing and make new equity highs while they're still trying |
| 672 | 01:00:40 --> 01:00:43 | to figure out what you're doing to make money, and they're miserable, and |
| 673 | 01:00:43 --> 01:00:46 | they're going around to the next person as soon as you win, they're going to go |
| 674 | 01:00:46 --> 01:00:49 | to another person and control that, because they're miserable, because |
| 675 | 01:00:49 --> 01:00:54 | misery loves company. So when you're watching price, you're trying not to |
| 676 | 01:00:54 --> 01:00:58 | think about the highs and lows emotionally. If it goes down here, |
| 677 | 01:00:58 --> 01:01:03 | that'll be demoralizing. I wasted all this time watching it from 830 to now. |
| 678 | 01:01:03 --> 01:01:06 | You know, this is like 45 minutes almost, and the market's just sitting |
| 679 | 01:01:06 --> 01:01:09 | around here like this. Well, that's what trading that's what trading is like, |
| 680 | 01:01:09 --> 01:01:13 | folks, you just because you want to make money and you eventually pass a funded |
| 681 | 01:01:13 --> 01:01:18 | account. It doesn't mean the market's going to say, Okay, well, Shirley has |
| 682 | 01:01:18 --> 01:01:23 | put her time in, so we're gonna, we're gonna run real quick for her, because |
| 683 | 01:01:23 --> 01:01:28 | she's in a trade, and she's, you know, she's, she deserves it. So let's just, |
| 684 | 01:01:28 --> 01:01:33 | let's just all work towards making this fast and painless for Shirley. Shirley |
| 685 | 01:01:33 --> 01:01:38 | needs to get a grip, because, anyhow, it works. This is a long, arduous task |
| 686 | 01:01:38 --> 01:01:44 | where you're just gonna sit there and watch candlesticks meander around and |
| 687 | 01:01:44 --> 01:01:48 | then eventually go against you or go in your favor. And what you're doing every |
| 688 | 01:01:48 --> 01:01:52 | single candle is you're watching and weighing out. Does it support the |
| 689 | 01:01:52 --> 01:01:57 | narrative that I underlyingly chose to get into as a trade? Is it still giving |
| 690 | 01:01:57 --> 01:02:01 | me indications that what I would like to see pan out is it still potentially |
| 691 | 01:02:01 --> 01:02:06 | there, as long as that is in play, you don't think about the opposite side. |
| 692 | 01:02:06 --> 01:02:12 | Why? Because your stop loss would do its job. You're paying that stop loss to |
| 693 | 01:02:12 --> 01:02:16 | protect you if it trades to a specific level that you don't want to be a part |
| 694 | 01:02:16 --> 01:02:21 | of. If it goes beyond that, you're gonna you're gonna pay for that stop loss to |
| 695 | 01:02:21 --> 01:02:25 | do its job, which is get you out at a loss, or at open profit, where you're |
| 696 | 01:02:25 --> 01:02:28 | willing to say, Okay, I don't want to give more open profit than this. If it |
| 697 | 01:02:28 --> 01:02:32 | goes to this level, I'm probably wrong, and that means I'm okay with being |
| 698 | 01:02:32 --> 01:02:35 | wrong. But now it's at a point where I have to make a decision, and I don't |
| 699 | 01:02:35 --> 01:02:38 | want to be focused on that decision every five seconds while the trades |
| 700 | 01:02:38 --> 01:02:42 | going on. So you have to use a real stop, not a mental stop, because it will |
| 701 | 01:02:42 --> 01:02:46 | make you mental when you lose 2030, 40% of your account, when a market move |
| 702 | 01:02:46 --> 01:02:50 | comes and you didn't expect it, it blows you out and you didn't have stop loss, |
| 703 | 01:02:53 --> 01:02:57 | you're mental, then you're literally going to go crazy, because it's a simple |
| 704 | 01:02:57 --> 01:03:03 | thing. You place a stop loss. Place it. Place it not using a stop loss is |
| 705 | 01:03:03 --> 01:03:06 | guaranteeing that you're going to fail eventually, given enough time, that |
| 706 | 01:03:06 --> 01:03:13 | outcome always, always comes with failure. That means blown account, that |
| 707 | 01:03:13 --> 01:03:17 | means back to square run, or you're completely not going to do it ever |
| 708 | 01:03:17 --> 01:03:23 | again. So I'm looking at that volume imbalance right here, and the fact that |
| 709 | 01:03:23 --> 01:03:29 | we came down and touched the top of the Tuesday New Day opening gap high. So we |
| 710 | 01:03:29 --> 01:03:36 | have two little PD arrays inside of this order block there. So I want to see, |
| 711 | 01:03:36 --> 01:03:42 | does it want to make a run for the high here and start squeezing towards that |
| 712 | 01:03:42 --> 01:03:49 | Fairbank out there. It's already done enough for me today, where I can go |
| 713 | 01:03:49 --> 01:03:52 | peacock in front of my wife. Tell her, I told him yesterday how I look for it. |
| 714 | 01:03:53 --> 01:03:56 | Have determined which side it's going to run for, and it did it beautifully |
| 715 | 01:03:56 --> 01:04:05 | today. And when you start seeing in the beginning, I gotta text my wife and tell |
| 716 | 01:04:05 --> 01:04:08 | her I'm gonna be here until the opening bell, and she's gonna yell at me with |
| 717 | 01:04:08 --> 01:04:20 | emojis. Give me a second. Dear honey, love of my life, my sunshine in the |
| 718 | 01:04:20 --> 01:04:22 | morning. How much do I love you? |
| 719 | 01:04:24 --> 01:04:36 | I will be down. Come on. I'll be down at 930 smack on that one. All |
| 720 | 01:04:40 --> 01:04:44 | right, so when you're watching price action like this, walking forward, |
| 721 | 01:04:46 --> 01:04:52 | you're observing certain things, anything that would make you feel |
| 722 | 01:04:53 --> 01:04:57 | apprehensive, anything that would make you feel that would second guess your |
| 723 | 01:04:57 --> 01:05:02 | expectations on what you think price might try. To do whenever you have that |
| 724 | 01:05:02 --> 01:05:11 | in the early stages. Okay, don't. Don't shun those concerns. Write them down in |
| 725 | 01:05:11 --> 01:05:15 | your your chart after you screenshot them. Okay, but you want to write that |
| 726 | 01:05:15 --> 01:05:19 | real quick, briefly inside of your notepad, because you have to have a |
| 727 | 01:05:19 --> 01:05:23 | notepad in a writing instrument when you're watching price, and you should do |
| 728 | 01:05:23 --> 01:05:29 | that while you're actually trading too. But if you have something that you know |
| 729 | 01:05:29 --> 01:05:33 | is a concern for you while you're watching price, deliver mind you in the |
| 730 | 01:05:33 --> 01:05:37 | beginning, you're not even demoing it. You're not pushing a demo entry. You're |
| 731 | 01:05:37 --> 01:05:42 | not trying to pick a entry point. You're not trying to know with great certainty |
| 732 | 01:05:42 --> 01:05:45 | where your stop loss should be, that those are questions that need to be |
| 733 | 01:05:45 --> 01:05:50 | answered later on, the initial stage of your development is sitting in front of |
| 734 | 01:05:50 --> 01:05:57 | price action and watching how it behaves. I promise you, 99% of all the |
| 735 | 01:05:57 --> 01:06:00 | instructors and mentor wannabes out there that are trying to sell |
| 736 | 01:06:00 --> 01:06:04 | mentorships or teaching you stuff. They didn't do this part very long at all. |
| 737 | 01:06:04 --> 01:06:09 | They went right into trying to demo and trying to demo and trying to demo and |
| 738 | 01:06:09 --> 01:06:13 | then doing funded account challenges. And how much money did they spend on |
| 739 | 01:06:13 --> 01:06:17 | funded account challenges versus how much money they've withdrawn? It would |
| 740 | 01:06:17 --> 01:06:21 | be really interesting to see that come here, in contrast, if, for people that |
| 741 | 01:06:21 --> 01:06:25 | do mentoring, if they do that kind of stuff, what would be the difference? |
| 742 | 01:06:25 --> 01:06:28 | What's the split, the ratio between that? I think you'd be probably |
| 743 | 01:06:28 --> 01:06:34 | illuminating. But instead of trying to be the next teacher, okay, because some |
| 744 | 01:06:34 --> 01:06:37 | of you want to learn how to do this, that way, you can do mentorships and |
| 745 | 01:06:37 --> 01:06:40 | make a lot of money too, and have all the tax breaks and benefits of that that |
| 746 | 01:06:40 --> 01:06:47 | trading doesn't afford you learn how to just be a good trader. And the way every |
| 747 | 01:06:47 --> 01:06:51 | good trader gets there is doing the boring part of what we're doing here and |
| 748 | 01:06:51 --> 01:06:58 | what I've been talking about last three sessions, if you don't have the tenacity |
| 749 | 01:06:58 --> 01:07:05 | and to say this is boring, this is not fun. I'm not making any money with this, |
| 750 | 01:07:06 --> 01:07:10 | but I know that this is absolutely the way I'm going to get there, because I |
| 751 | 01:07:10 --> 01:07:14 | will know by experience that there's absolutely no reason for me to be |
| 752 | 01:07:14 --> 01:07:19 | fearful of a movie that doesn't pan out, because I've seen many times where if I |
| 753 | 01:07:19 --> 01:07:24 | watched and waited for certain things to present themselves in price action, the |
| 754 | 01:07:24 --> 01:07:29 | probabilities get shifted so much more in my favor that it's going to happen, |
| 755 | 01:07:29 --> 01:07:34 | versus that if I didn't know these things, where? How would I know it |
| 756 | 01:07:34 --> 01:07:38 | otherwise? And then what you do is you end up coaching yourself and encouraging |
| 757 | 01:07:38 --> 01:07:42 | yourself, which is what self talk is self talk. You want to do that to |
| 758 | 01:07:42 --> 01:07:46 | yourself while you're watching price action by yourself. You want to say, |
| 759 | 01:07:46 --> 01:07:51 | Okay, you're doing good like it's it's reactive off of that volume imbalance in |
| 760 | 01:07:51 --> 01:07:55 | that order block and touching the top of that new day opening gap from Tuesday |
| 761 | 01:07:55 --> 01:07:59 | that otherwise other people would have never noticed it, never concerned |
| 762 | 01:07:59 --> 01:08:03 | themselves with it, because the gap filled. Well, here we are. It's, you |
| 763 | 01:08:03 --> 01:08:10 | know, ICT is birthday and is stuff still working days after that, these levels |
| 764 | 01:08:10 --> 01:08:18 | were formed. So my question to you is this, how many times do I have to come |
| 765 | 01:08:18 --> 01:08:23 | out here and prove this stuff theoretically, logically, and it |
| 766 | 01:08:23 --> 01:08:30 | delivers to it perfect again, like think about it. See, some of you, you need to |
| 767 | 01:08:30 --> 01:08:35 | see me push the button as a long as it goes down to that volume and balance and |
| 768 | 01:08:35 --> 01:08:38 | use a stop loss that would be right at the rejection block, right there on that |
| 769 | 01:08:38 --> 01:08:44 | close that's where your stop loss would be. So what's the risk between that and |
| 770 | 01:08:44 --> 01:08:48 | getting in at the high or the open on that candle, which is the volume and |
| 771 | 01:08:48 --> 01:08:52 | balance inside of that order block, right there? Devil's Advocate. You can |
| 772 | 01:08:52 --> 01:08:55 | be worst case scenario. Use the opening price of that order block and say that's |
| 773 | 01:08:55 --> 01:09:01 | your fill and your risk is the close of that candle. You're watching this level |
| 774 | 01:09:01 --> 01:09:07 | here. It could have wicked below it by a tick, but that's about as much as I |
| 775 | 01:09:07 --> 01:09:11 | would have expected. Why? Why would I only expected that much? Because it's |
| 776 | 01:09:11 --> 01:09:18 | already filled in this volume imbalance. There two bodies. This body's inside |
| 777 | 01:09:18 --> 01:09:21 | that volume balance too. Then we had a wick in here that went below that. |
| 778 | 01:09:21 --> 01:09:27 | There's no need for it to go back down below that, except for one tick. How |
| 779 | 01:09:27 --> 01:09:30 | does ICT know how to put these stop losses real tight like that? How does he |
| 780 | 01:09:30 --> 01:09:36 | know ICT stop placement is top tier. You're fucking ready to this because |
| 781 | 01:09:36 --> 01:09:40 | there's logic behind it that you're learning here, and you have my son to |
| 782 | 01:09:40 --> 01:09:45 | thank for it, because he's the one that wanted me to do this for him, and he |
| 783 | 01:09:45 --> 01:09:50 | wants it documented. So therefore, the things that I'm teaching him, he'll tell |
| 784 | 01:09:50 --> 01:09:54 | you I'm not talking to him about price action in in texts. I'm talking to you |
| 785 | 01:09:54 --> 01:09:59 | right here. Everything I'm doing in front of you, he's watching it just |
| 786 | 01:09:59 --> 01:10:08 | like. You are, and I do this every single day, every single day. I know |
| 787 | 01:10:08 --> 01:10:12 | what the I know what it's going to do. If I don't know at the moment when I sit |
| 788 | 01:10:12 --> 01:10:15 | down, I'm going to wait for more information, and then I know what it's |
| 789 | 01:10:15 --> 01:10:23 | going to do. Now, if you are someone that watches this and says, Well, you |
| 790 | 01:10:23 --> 01:10:28 | know, that's all well and good. He got lucky. What's it going to be like when |
| 791 | 01:10:28 --> 01:10:34 | we were five weeks into this and it's still panning out? Is it still luck? Is |
| 792 | 01:10:34 --> 01:10:41 | it? Is it still luck? Where's my where's my lucky rabbit's foot? No, no, no, it's |
| 793 | 01:10:41 --> 01:10:47 | this boring logic that repeats all the time. And you want your trading to be |
| 794 | 01:10:47 --> 01:10:51 | boring. You want it to be boring. You want it to be a monotonous task where it |
| 795 | 01:10:51 --> 01:10:55 | says, so redundant, just like your job, but yet you still find your ass back |
| 796 | 01:10:55 --> 01:10:59 | there to get that paycheck, don't you? You'll drive and sit through traffic, |
| 797 | 01:11:00 --> 01:11:04 | have other people cut you off and cuss you out, brave through the weather just |
| 798 | 01:11:04 --> 01:11:08 | to go get that little ass paycheck and deal with Carl. |
| 799 | 01:11:13 --> 01:11:17 | Well, if you're willing to put yourself through all that bullshit, what's |
| 800 | 01:11:17 --> 01:11:22 | keeping you from doing this? It's something simple, some kind of head up |
| 801 | 01:11:22 --> 01:11:26 | your ass syndrome that you gotta pull your head out of your own ass and say, |
| 802 | 01:11:26 --> 01:11:31 | You know what? This guy has the goods. He's got people all around the world |
| 803 | 01:11:31 --> 01:11:35 | proving that they're making money. You see the students names on the payout. |
| 804 | 01:11:36 --> 01:11:40 | You see them. You go on, go on to those funded account places that shows you |
| 805 | 01:11:40 --> 01:11:43 | who's getting paid out and then watch their videos. When they say, Yeah, I did |
| 806 | 01:11:43 --> 01:11:50 | this. This is how I'm making money. There was a time that they were thinking |
| 807 | 01:11:50 --> 01:11:55 | just like you, this guy's full of shit. You never see him get out here and trade |
| 808 | 01:11:55 --> 01:11:57 | a Live account in front of people. You're never gonna see him. Call the |
| 809 | 01:11:57 --> 01:12:06 | market live. What's going on right now, I'm giving you the logic the day before |
| 810 | 01:12:06 --> 01:12:10 | it does it, and then after the fact, I'm telling you, okay, now watch this. I'm |
| 811 | 01:12:10 --> 01:12:13 | watching this volume of balance right here. It's come down here. Now I want to |
| 812 | 01:12:13 --> 01:12:18 | see, does it run up here and reach into that now, because it's done this ahead |
| 813 | 01:12:18 --> 01:12:25 | of 930 opening bell. What does that mean? Well, on a day like today, I would |
| 814 | 01:12:25 --> 01:12:30 | wait, because I got a run from here to here. That's a, that's a pretty sizable |
| 815 | 01:12:30 --> 01:12:37 | run. What is it? Almost 100 handles. Let me make sure. I'm trying to say too |
| 816 | 01:12:37 --> 01:12:40 | much. I'll just use the opening price on the order block. That's, that's our |
| 817 | 01:12:40 --> 01:12:45 | hypothetical entry. Okay, so 173 and we're aiming for consequent |
| 818 | 01:12:45 --> 01:12:54 | encroachment. So consequent encroachment is, we'll say 250 did it get to 252 52 |
| 819 | 01:12:54 --> 01:13:03 | Okay, so 250 from 173 80 handles. Were there about 70 handles, something like |
| 820 | 01:13:03 --> 01:13:08 | that. I'm 52 years old today. Okay, I'm having a Biden amendment. You can do the |
| 821 | 01:13:08 --> 01:13:13 | math. It's better than every other YouTuber that live streams. Let's put it |
| 822 | 01:13:13 --> 01:13:15 | that way, except for my student, Taj, that killed it the other day, making it |
| 823 | 01:13:15 --> 01:13:20 | 130 handles. I watched you, girl, don't don't think I ain't looking okay. I'm |
| 824 | 01:13:20 --> 01:13:24 | watching you. Just because I'm quiet doesn't mean I got I don't have your |
| 825 | 01:13:24 --> 01:13:32 | live stream on. I'm watching what you're doing. The the takeaway is today, |
| 826 | 01:13:32 --> 01:13:36 | because we've already pressed up one sided and we've done all this business |
| 827 | 01:13:36 --> 01:13:41 | in here. Remember all saying that how most people would look at this and feel |
| 828 | 01:13:41 --> 01:13:47 | like it's petering out, and they may be second guessing, like, Okay, is it gonna |
| 829 | 01:13:47 --> 01:13:53 | is it gonna behave? Is it gonna act like resistance or bearish divergences? |
| 830 | 01:13:53 --> 01:13:57 | Because if you're watching indicators, it might trip you up and think, Wow, |
| 831 | 01:13:57 --> 01:14:01 | this is, this is really running out of momentum, and it's probably going to go |
| 832 | 01:14:01 --> 01:14:08 | back down here and fill in this liquidity void. No, no, no, no, it's |
| 833 | 01:14:08 --> 01:14:14 | drawing up to areas of inefficiency. Why did it? Why did I highlight this fair |
| 834 | 01:14:14 --> 01:14:19 | value gap? Remember that, why? Why was that even highlighted? What did i What |
| 835 | 01:14:19 --> 01:14:25 | did I use the same stuff that I taught in my private mentorship lectures that |
| 836 | 01:14:25 --> 01:14:30 | are on my YouTube channel for free. Stop paying people for mentorship, stuff that |
| 837 | 01:14:30 --> 01:14:36 | I've already played on this YouTube channel for free, for free, and it's |
| 838 | 01:14:36 --> 01:14:38 | there for you to watch it anytime you want. |
| 839 | 01:14:40 --> 01:14:44 | But this is formed on the. |
| 840 | 01:15:03 --> 01:15:08 | I always gonna kill me today, my birthday present, honey, is leniency. |
| 841 | 01:15:10 --> 01:15:14 | The warden. I'm asking the warden for leniency. Please be lenient with me |
| 842 | 01:15:14 --> 01:15:19 | today. I'm in my moment. Okay, I gotta have to, have to do this to my |
| 843 | 01:15:19 --> 01:15:22 | completion, and then I'm satisfied, because if I leave it and I don't say |
| 844 | 01:15:22 --> 01:15:25 | what I want to say, I won't be able to enjoy my time with her and my family, |
| 845 | 01:15:25 --> 01:15:29 | because I'll be thinking about this because I'm obsessive. This guy's a real |
| 846 | 01:15:29 --> 01:15:33 | jerk, man. He's He's putting trading before his wife and kids. That's been my |
| 847 | 01:15:33 --> 01:15:37 | whole life, and that's why I'm not the best mentor. So you have the low of this |
| 848 | 01:15:38 --> 01:15:41 | candle and the high that candle on the single pass through. It's sell side |
| 849 | 01:15:41 --> 01:15:47 | delivery inefficiency is on the buy side. That means, until this candlestick |
| 850 | 01:15:47 --> 01:15:52 | here that high, the difference between that and this candles high, that is your |
| 851 | 01:15:53 --> 01:15:58 | inefficiency still okay, so it looks like that, and what does it do? It |
| 852 | 01:15:58 --> 01:16:03 | trades up just above that on this candle there. But why did I pick this fair |
| 853 | 01:16:03 --> 01:16:07 | value gap? Why did I do that? Well, if you go back and look at where we were |
| 854 | 01:16:07 --> 01:16:12 | here before 830 started to run up, I measured in front of you |
| 855 | 01:16:17 --> 01:16:23 | this high, dragging the Fibonacci down to here, the only use of a Fibonacci for |
| 856 | 01:16:23 --> 01:16:27 | me is I want to know where the midpoint is. That's all Fibonacci does for me, |
| 857 | 01:16:28 --> 01:16:31 | because that determines if it's whoever bought or ever sold. I don't need an |
| 858 | 01:16:31 --> 01:16:34 | indicator to tell me that you don't need an indicator to tell you that and |
| 859 | 01:16:34 --> 01:16:38 | divergence on any indicator is useless. It doesn't mean because you're |
| 860 | 01:16:38 --> 01:16:43 | compressing numbers, and if you beat and torture numbers enough, the data will |
| 861 | 01:16:43 --> 01:16:48 | submit to anything you wanted to say. So it's a matter of looking for where are |
| 862 | 01:16:48 --> 01:16:56 | we at in the range. So can you see clearly that this is the range high all |
| 863 | 01:16:56 --> 01:17:03 | the way down to that low? So the most recent large degree of directional |
| 864 | 01:17:03 --> 01:17:09 | movement right at 830 as it happened, where was the profitable trades being |
| 865 | 01:17:09 --> 01:17:14 | held, the longs or the shorts? Predominantly, it's the shorts. Why? |
| 866 | 01:17:14 --> 01:17:18 | Because it's been the most recent protracted directional move, and it's |
| 867 | 01:17:18 --> 01:17:23 | been going lower. So when we have these big ranges like that, it's important to |
| 868 | 01:17:23 --> 01:17:27 | measure with the fit that way, if you're going to go long, or if you're |
| 869 | 01:17:27 --> 01:17:31 | anticipating it's going to go long, and why would we anticipate that? Because |
| 870 | 01:17:31 --> 01:17:36 | what I gave you yesterday as guidance, I'm going to I'm going to slap you |
| 871 | 01:17:36 --> 01:17:39 | around a little bit and get any space off like this. I got to get it out of my |
| 872 | 01:17:39 --> 01:17:44 | system. But 50% is here, so that's equilibrium. So at that level, or below |
| 873 | 01:17:44 --> 01:17:50 | is discount. At that level, or above is premium. So we're here at 830 I taught |
| 874 | 01:17:50 --> 01:17:53 | you yesterday that if there's clustering with the new day opening gaps and a new |
| 875 | 01:17:53 --> 01:17:56 | week opening gap, if that's above where the market price is and you're |
| 876 | 01:17:56 --> 01:18:02 | anticipating price to have a movement one directional, okay, or high impact or |
| 877 | 01:18:02 --> 01:18:08 | medium impact news drivers are likely to create a spooling in price where they |
| 878 | 01:18:08 --> 01:18:13 | start gapping prior price higher, and you see that in that 15 second chart |
| 879 | 01:18:13 --> 01:18:18 | where it traversed over 100 handles in 15 seconds. And you think that's buying |
| 880 | 01:18:18 --> 01:18:23 | pressure. It's not that's absolutely algorithmic. It's them repricing. Now, |
| 881 | 01:18:23 --> 01:18:28 | before the markets were electronic, there would be a group of men that sat |
| 882 | 01:18:28 --> 01:18:31 | around and they would pair orders. If you remember back in times where I was |
| 883 | 01:18:31 --> 01:18:35 | teaching on baby pips, is you're pairing their pairing orders. What does that |
| 884 | 01:18:35 --> 01:18:42 | mean? All they need is one trade, one contract to book price. That's it. So if |
| 885 | 01:18:42 --> 01:18:49 | they have an intention of repricing to 18,165 when prices sitting at 17,009 73 |
| 886 | 01:18:49 --> 01:18:56 | and it wasn't electronic markets, so the algorithm was all future, they can't do |
| 887 | 01:18:56 --> 01:18:59 | it yet because it's not automated yet. We don't have the technology to do that, |
| 888 | 01:18:59 --> 01:19:03 | so everything's open outcry. What they would do is they would sit in a room, |
| 889 | 01:19:04 --> 01:19:08 | one man would put an order in, okay, I want to buy at this price, and another |
| 890 | 01:19:08 --> 01:19:11 | guy would say, Okay, I will agree with that price. And they hurry up and they |
| 891 | 01:19:11 --> 01:19:15 | they stair step, it just like that. And that would feed that that price run. So |
| 892 | 01:19:15 --> 01:19:20 | that way the price would book on your chart before electronic trading. And |
| 893 | 01:19:20 --> 01:19:24 | they just kept prices moving just like that. And you can see it. You can |
| 894 | 01:19:24 --> 01:19:29 | validate it with volume. Just look at volume. How many contracts, how many |
| 895 | 01:19:29 --> 01:19:37 | contracts were traded at 830 to make that 100 handle run. When I get done |
| 896 | 01:19:37 --> 01:19:39 | showing this again, I'm going to, I'm going to drop down into like a one |
| 897 | 01:19:39 --> 01:19:46 | second chart, and we'll look at that, that first 830, to 831, movement with a |
| 898 | 01:19:46 --> 01:19:52 | one second chart. It's illuminating. So, because we have equilibrium here, and |
| 899 | 01:19:52 --> 01:19:55 | we're I'm anticipating based on the logic I taught yesterday, if the |
| 900 | 01:19:55 --> 01:19:59 | market's here before the news driver, the news driver is going to be the you. |
| 901 | 01:20:00 --> 01:20:05 | Uh, retails. Excuse for why price went up when it's not it's just the |
| 902 | 01:20:06 --> 01:20:10 | highlighting of the time when the market's going to start spooling. |
| 903 | 01:20:10 --> 01:20:15 | Spooling is just like when you have a fishing rod, okay, and you put your |
| 904 | 01:20:15 --> 01:20:18 | little anchor, your little sinker on the end of it, with your bait and your hook, |
| 905 | 01:20:19 --> 01:20:23 | and then you cast the fishing rod out into the water, the fishing line, when |
| 906 | 01:20:23 --> 01:20:33 | it starts leaving that that that spool, that reel of fishing line, as it's going |
| 907 | 01:20:33 --> 01:20:39 | off that reel, it's shooting off, but it's being unraveled real quick, and |
| 908 | 01:20:39 --> 01:20:43 | it's shooting out the length of the fishing pole and out into the water. |
| 909 | 01:20:44 --> 01:20:50 | That's exactly what's going on when the algorithm starts running. When it enters |
| 910 | 01:20:50 --> 01:20:55 | into a buy program, boom, it starts spoiling higher when it enters the cell |
| 911 | 01:20:55 --> 01:20:57 | program, boom, it starts going lower. |
| 912 | 01:21:02 --> 01:21:08 | Your task is to understand the characteristics when the time is likely, |
| 913 | 01:21:08 --> 01:21:14 | to see that unfold, when there is no market driver, when there's no news, |
| 914 | 01:21:15 --> 01:21:19 | like at 830 or 10 o'clock reports that come out, or sometimes it's a 945 number |
| 915 | 01:21:19 --> 01:21:25 | or 1030 if it's crude oil inventory, when you have all those those reports, |
| 916 | 01:21:25 --> 01:21:28 | or those times the day that's they're pretty generic. Everybody knows that. |
| 917 | 01:21:29 --> 01:21:33 | But there also are things like I taught as a macro. It's the first 10 minutes |
| 918 | 01:21:33 --> 01:21:37 | before the top of the hour, and 10 minutes after the top of the hour, the |
| 919 | 01:21:37 --> 01:21:41 | market will spool there as well. They'll start running. What is it running for? |
| 920 | 01:21:41 --> 01:21:45 | It's running for liquidity or run rushing to get into an inefficiency. You |
| 921 | 01:21:45 --> 01:21:47 | probably hear Bill in the background and |
| 922 | 01:21:52 --> 01:21:57 | thank you for the birthday cards. By the way, too many of them to show. I showed |
| 923 | 01:21:57 --> 01:22:01 | one of them. Moses, thank you again. But I just don't, I know some of you |
| 924 | 01:22:01 --> 01:22:05 | probably would like to see your stuff show up on my community post. I don't |
| 925 | 01:22:05 --> 01:22:15 | want to do that, but that day, I just got one, so that was nice. The the fair |
| 926 | 01:22:15 --> 01:22:19 | value get that I chose here is above the equilibrium price point, okay? And it's |
| 927 | 01:22:19 --> 01:22:24 | also inside of that breaker. And if it's going to trade above this, where could |
| 928 | 01:22:24 --> 01:22:29 | it trade to as an up, you know, upside target, this area here, that could act |
| 929 | 01:22:29 --> 01:22:35 | as what the inversion fair value got. So it's those levels we look for. Okay, so |
| 930 | 01:22:35 --> 01:22:42 | how can we use this information in a trade idea? Let's go back down and get |
| 931 | 01:22:42 --> 01:22:49 | this fitting onto go into a one minute chart, all right, and then when price |
| 932 | 01:22:49 --> 01:22:53 | had this big run here, that's not what I want to do. Let's go into 15 second |
| 933 | 01:22:53 --> 01:23:01 | chart. I apologize. Look at the reaction off the low of that fair value got |
| 934 | 01:23:01 --> 01:23:06 | there, that's probably random. Don't pay attention to that. So it's all selling |
| 935 | 01:23:06 --> 01:23:12 | pressure, the the balancing between this candle body and then open and trading |
| 936 | 01:23:12 --> 01:23:16 | down here, that makes this from this low to that high. That's a balanced price |
| 937 | 01:23:16 --> 01:23:22 | range. What? Yeah, that's balanced. That's balanced. Price delivery, both |
| 938 | 01:23:22 --> 01:23:26 | directions have been offered. It's from this low that we don't know yet is |
| 939 | 01:23:26 --> 01:23:30 | formed yet, but it's also the same low that makes a consequent encroachment of |
| 940 | 01:23:30 --> 01:23:35 | Wednesday's New Day opening gap, see that. So all these things are converging |
| 941 | 01:23:35 --> 01:23:41 | this run away from that and then close. We open trade down to that consequent |
| 942 | 01:23:41 --> 01:23:45 | encroachment, and then pass through and leave that high there. That means that |
| 943 | 01:23:45 --> 01:23:53 | this high is a balanced price range down to that low, because between this candle |
| 944 | 01:23:53 --> 01:23:58 | is low and that candle is high, price has been offered up and down that's |
| 945 | 01:23:58 --> 01:24:04 | balanced, that's balanced, and the market trades back down, and you see |
| 946 | 01:24:04 --> 01:24:11 | them hitting the up close, closing price here, and digging into this, candles |
| 947 | 01:24:12 --> 01:24:23 | open, hits it perfectly, rallies on a 15 second chart you can use order blocks as |
| 948 | 01:24:23 --> 01:24:29 | your entry small, fair value gaps, volume imbalances. I love them, if the |
| 949 | 01:24:29 --> 01:24:33 | direction still in play. Okay, and we're outlining this level here, so anytime |
| 950 | 01:24:33 --> 01:24:39 | you see a convergence of a new day opening gaps, low, high or consequent |
| 951 | 01:24:39 --> 01:24:43 | encouragement level and a down closed camel, and you're bullish, it leaves it |
| 952 | 01:24:43 --> 01:24:49 | and comes back down in you can use that as your catalyst to study price. Does it |
| 953 | 01:24:49 --> 01:24:56 | behave and run to your objective? I gave you the objective today. I outlined how |
| 954 | 01:24:56 --> 01:25:00 | the market will behave yesterday. So I pointed out the volume and balance. Once |
| 955 | 01:25:00 --> 01:25:07 | I pointed out the fact that we came down and touched the top of the Tuesday, |
| 956 | 01:25:07 --> 01:25:11 | yeah, Tuesday's New Day opening gap. And then we want to see, does it rally up |
| 957 | 01:25:11 --> 01:25:16 | and go into this pair of a gap? And we got that, okay, 70 plus handles, if not, |
| 958 | 01:25:17 --> 01:25:24 | you know, whatever that is, on a very small run, but after the major damage |
| 959 | 01:25:24 --> 01:25:29 | was done. So I used the logic in front of you. We didn't touch Market Replay to |
| 960 | 01:25:29 --> 01:25:33 | do that. You got to do this. Okay, you see how that changes. The bottom of my |
| 961 | 01:25:33 --> 01:25:38 | screen. Down here, my screen never looks like that. It never looks like that |
| 962 | 01:25:39 --> 01:25:42 | because ICT knows what the fuck is going on. I don't need to use no market replay |
| 963 | 01:25:42 --> 01:25:47 | to guess. Oh, let's start watching and going for it. The hell with that. It's, |
| 964 | 01:25:47 --> 01:25:52 | it's dumb. Okay, dumb. I want to leave this. Yes, I do. So that's why my chart |
| 965 | 01:25:52 --> 01:25:57 | looks and looks like that. Okay, even if I maximize it, you know, I don't think |
| 966 | 01:25:57 --> 01:26:00 | you can pull up Market Replay when you do that. Can you? No, you can't. So |
| 967 | 01:26:00 --> 01:26:04 | there you go. That's why I showed my screen maximize. I try. I go through all |
| 968 | 01:26:04 --> 01:26:10 | this to prove to you that all this stuff is happening in real time. The markets |
| 969 | 01:26:10 --> 01:26:14 | open account down to close a candlestick. I mean, it's all there. But |
| 970 | 01:26:15 --> 01:26:18 | there are specific things that you're going to find that are, they're real |
| 971 | 01:26:18 --> 01:26:23 | signals that you want to participate in. There are setups that are are more |
| 972 | 01:26:23 --> 01:26:27 | likely to pan out than just looking at, oh, well, it's trading down at the down |
| 973 | 01:26:27 --> 01:26:31 | closed candle. So it must go up. No, there has to be other contributing |
| 974 | 01:26:31 --> 01:26:35 | factors to it. And when you're looking at things that are outside the candles, |
| 975 | 01:26:35 --> 01:26:41 | a la New Day, opening gap, new week opening gaps, the separation between |
| 976 | 01:26:41 --> 01:26:47 | those price levels, which is event horizon, those types of things, they're |
| 977 | 01:26:47 --> 01:26:48 | like |
| 978 | 01:26:49 --> 01:26:50 | dark pools. |
| 979 | 01:26:51 --> 01:26:58 | They're things that the general public are not privy to. They're not something |
| 980 | 01:26:58 --> 01:27:02 | they can reach for and say, oh, yeah, this is they're looking at indicators. |
| 981 | 01:27:03 --> 01:27:07 | They're trying, they're trying to overlay stuff on their chart and looking |
| 982 | 01:27:07 --> 01:27:11 | at mathematically crunched data, thinking that that's what's going to |
| 983 | 01:27:11 --> 01:27:14 | cause the market to go up and down. No, the only thing that's doing is providing |
| 984 | 01:27:14 --> 01:27:18 | liquidity for people that use that logic, and they put orders in the |
| 985 | 01:27:18 --> 01:27:23 | marketplace based on that bullshit. And then we go in like a cannibal and devour |
| 986 | 01:27:23 --> 01:27:26 | them, and they don't even know what just happened. And we're going to go back the |
| 987 | 01:27:26 --> 01:27:29 | next day do the same thing all over again, and as long as they have money in |
| 988 | 01:27:29 --> 01:27:34 | their account and buttons to push to do so, and we'll be cleaning their clock |
| 989 | 01:27:34 --> 01:27:39 | again. And that's the that's the life cycle, stupid money, Street Money, dumb |
| 990 | 01:27:39 --> 01:27:44 | money, being cannibalized by smart money, and smart money uses these |
| 991 | 01:27:44 --> 01:27:51 | concepts. Look at what the market's doing consequent encroachment. I told |
| 992 | 01:27:51 --> 01:27:55 | you this level before it happened, it traded up to it and then hits it here. |
| 993 | 01:27:55 --> 01:27:59 | So what is it indicating? It's having resistance, right? It's having a hard |
| 994 | 01:27:59 --> 01:28:05 | time, and then it breaks down this level or that low after it touches this. |
| 995 | 01:28:05 --> 01:28:11 | Trades down below that low. What does that mean? Right there? It's a shift in |
| 996 | 01:28:11 --> 01:28:14 | market structure. So what it's going to do? It's probably going to trade up to a |
| 997 | 01:28:14 --> 01:28:22 | short term premium. What's it going to trade to see that gap, see it there to |
| 998 | 01:28:22 --> 01:28:28 | there. What's the bodies over here? Respecting that, but the wicks are |
| 999 | 01:28:28 --> 01:28:32 | allowed to do. What the damage? How far can it go? Well, do you see the volume |
| 1000 | 01:28:32 --> 01:28:35 | imbalance right there? These are all things that you annotate and screenshot |
| 1001 | 01:28:35 --> 01:28:39 | as price is doing what you're watching. And what does it trade down to some |
| 1002 | 01:28:39 --> 01:28:44 | random bullshit and do G some horse shit. It's it's all made up. It's all |
| 1003 | 01:28:44 --> 01:28:51 | make believe. I renamed this from something apparently. Find a book, find |
| 1004 | 01:28:51 --> 01:28:55 | it, find the VHS tapes and courses that talks about these new day opening gaps |
| 1005 | 01:28:55 --> 01:28:59 | being used like I taught it. Ain't there, folks. But guess what? It's all |
| 1006 | 01:28:59 --> 01:29:03 | over on Amazon right now. It's on Amazon right now, and it has my logo somewhere |
| 1007 | 01:29:03 --> 01:29:07 | in the book, or my name, the one that cover the book, ICTs, inner circle |
| 1008 | 01:29:07 --> 01:29:11 | trader, secrets, the blah, blah, blah, and they're teaching it through |
| 1009 | 01:29:11 --> 01:29:14 | ignorance. They have no idea what they're talking about. The only thing |
| 1010 | 01:29:14 --> 01:29:17 | they're doing is parroting what I said. That's why people that leave me notes |
| 1011 | 01:29:17 --> 01:29:21 | and stuff you talk too much, because that means they got to listen to all |
| 1012 | 01:29:21 --> 01:29:25 | that shit or try to condense it, and they failed in school. So they're trying |
| 1013 | 01:29:25 --> 01:29:32 | to do, you know, with with John fibotti, did make a book with a bunch of |
| 1014 | 01:29:32 --> 01:29:35 | bullshit, and it's all my stuff, but supposedly credit everyone else that has |
| 1015 | 01:29:35 --> 01:29:39 | nothing to do with them. It's because he want to do a cash grab until I put a |
| 1016 | 01:29:39 --> 01:29:44 | review on there. Come to the YouTube channel, you'll see this guy's a liar. |
| 1017 | 01:29:44 --> 01:29:52 | That's did you get from the multi level marketing gurus? 20 year old, rip offs, |
| 1018 | 01:29:52 --> 01:30:01 | rip off artists, hits it fails, blindly bounce survey gap you. The takeaway is |
| 1019 | 01:30:01 --> 01:30:06 | this, when you have a fair value gap and you have small little cracks in the |
| 1020 | 01:30:06 --> 01:30:11 | delivery of price, like that little, tiny volume of balance right there, this |
| 1021 | 01:30:11 --> 01:30:16 | tells you where the wit can go. But how can you trust the trade is still |
| 1022 | 01:30:16 --> 01:30:20 | valuable? Or, if you miss this first run up here, can you trade it? If it goes |
| 1023 | 01:30:20 --> 01:30:27 | into it again in here. Yes, that's a reclaimed fair value gap. That's the |
| 1024 | 01:30:27 --> 01:30:31 | fact that the market's offering that again. It's reclaiming that fair value |
| 1025 | 01:30:31 --> 01:30:35 | gap, but the wicks are doing the damage. So how far can it how can it run against |
| 1026 | 01:30:35 --> 01:30:38 | you? How far can it run against you? Rather well, it can trade into that |
| 1027 | 01:30:38 --> 01:30:42 | volume imbalance, but if it does both, and it starts to slam down, you really |
| 1028 | 01:30:42 --> 01:30:47 | are being like a billboard sign, like on an interstate, saying you're running low |
| 1029 | 01:30:47 --> 01:30:52 | on gas, or you you're, if you're hungry, pull out on this exit here, because we |
| 1030 | 01:30:52 --> 01:30:56 | have the goods. It's a good thing to come this direction. Well, that's kind |
| 1031 | 01:30:56 --> 01:30:58 | of like a neon sign saying that, like the bodies are staying inside this |
| 1032 | 01:30:58 --> 01:31:03 | volume of, I'm sorry, fair value got these are all things that you're going |
| 1033 | 01:31:03 --> 01:31:04 | to annotate while you're watching price. |
| 1034 | 01:31:13 --> 01:31:17 | Okay, and look where the body stop. I mean, really, really, really, really, |
| 1035 | 01:31:17 --> 01:31:20 | think about this. Okay, think about the bullshit that people are going to tell |
| 1036 | 01:31:20 --> 01:31:23 | you and you've read in books and you probably believe Ray. Believe, right |
| 1037 | 01:31:23 --> 01:31:27 | now, if you're new, that markets are random. It's all buying and selling |
| 1038 | 01:31:27 --> 01:31:31 | pressure. What the fuck are the chances of this candle is low and this candle is |
| 1039 | 01:31:31 --> 01:31:36 | high? That is my fair value gap. Midpoint is consequent encroachment. |
| 1040 | 01:31:36 --> 01:31:42 | That means it's it's encroaching into this space again, it's consequential. |
| 1041 | 01:31:43 --> 01:31:47 | It's, it's, it's likely to happen, because, therefore, if it's going to |
| 1042 | 01:31:47 --> 01:31:52 | return back to it, this is what you expect. That's why it's consequential. |
| 1043 | 01:31:52 --> 01:31:59 | Encouragement. Look where the bodies are. You see that, what's the wick doing |
| 1044 | 01:31:59 --> 01:32:04 | the damage to? What? To what degree is that wit going up against the underlying |
| 1045 | 01:32:04 --> 01:32:09 | expectation? If you're going to trade with this pattern, what is the extreme |
| 1046 | 01:32:09 --> 01:32:13 | of how far that wick can go? Well, look back over here. We have this short term |
| 1047 | 01:32:13 --> 01:32:16 | high. Does it go above that? Sure it does. But how high can it go above that? |
| 1048 | 01:32:16 --> 01:32:21 | ICT. Look to the left. What do you have left? Volume of balance, |
| 1049 | 01:32:28 --> 01:32:35 | deliver one tick above, back down in consequent encroachment. Consequent |
| 1050 | 01:32:35 --> 01:32:40 | encroachment fails to get to consequent encroachment. That's what you're looking |
| 1051 | 01:32:40 --> 01:32:46 | for. You want to see the next candle start to dive, go lower, does it? Oh, |
| 1052 | 01:32:46 --> 01:32:50 | wow. Now you can use this as a institutional order for entry drill |
| 1053 | 01:32:50 --> 01:32:54 | trades up into that gap, but you want to see that left open. You don't want to |
| 1054 | 01:32:54 --> 01:32:56 | see that fill in, because if it can leave that open, guess what that means. |
| 1055 | 01:32:57 --> 01:33:01 | It's a breakaway gap, and it's probably going to remain heavy, and it may afford |
| 1056 | 01:33:01 --> 01:33:08 | you 1520, or more handles something to that effect. And you're weighing out all |
| 1057 | 01:33:08 --> 01:33:13 | of these potential delivery mechanisms, your stop loss would be here. Here's |
| 1058 | 01:33:13 --> 01:33:16 | your fair value gap, institutional order, financial drill. There it spikes |
| 1059 | 01:33:16 --> 01:33:21 | up, yes, but beforehand it trades down to the low The New Day opening gap on |
| 1060 | 01:33:21 --> 01:33:27 | Tuesday, you would take a partial here if you were holding on for more. Chances |
| 1061 | 01:33:27 --> 01:33:30 | are you probably would have got stopped out, because you would have definitely |
| 1062 | 01:33:30 --> 01:33:34 | been moving your stop loss below the fair value guy. But you're paid. You're |
| 1063 | 01:33:34 --> 01:33:38 | paid. And if you did something like that, if you had an expectation, maybe |
| 1064 | 01:33:38 --> 01:33:41 | you're watching on the chart right now, while I was talking and you were looking |
| 1065 | 01:33:41 --> 01:33:46 | at something like that. That's a that's a plus. That's a win in your learning. |
| 1066 | 01:33:46 --> 01:33:49 | Not that you should have been taking a trade, by the way, but if you're |
| 1067 | 01:33:49 --> 01:33:56 | watching and observing it relative equal lows top of the Tuesday, let's see if we |
| 1068 | 01:33:56 --> 01:34:05 | can spike down below that. You can make these drills as small and as minute as |
| 1069 | 01:34:05 --> 01:34:11 | possible, and then looking and judging how does it behave. Or you can look at |
| 1070 | 01:34:11 --> 01:34:16 | it from I want to see it, try to traverse over a span of 20 to 30 handles |
| 1071 | 01:34:16 --> 01:34:22 | and study each one of them. And if you're looking at a 15 second chart, it |
| 1072 | 01:34:22 --> 01:34:26 | gives you a lot of examples where you can do this and just study. What is it |
| 1073 | 01:34:26 --> 01:34:30 | doing, how is it behaving? What levels is it respecting? How fast is it going |
| 1074 | 01:34:30 --> 01:34:36 | away from a level? How fast is it drawing to a level and or is it starting |
| 1075 | 01:34:36 --> 01:34:41 | to stagnate? Is it having a hard time moving around? All these things are |
| 1076 | 01:34:41 --> 01:34:46 | things that you need to be condition yourself to observe real time, because |
| 1077 | 01:34:46 --> 01:34:50 | that's the that's the experience that you're going to lean on when you're |
| 1078 | 01:34:50 --> 01:34:54 | trading with real money, or when you're trading a funded account challenge, or |
| 1079 | 01:34:54 --> 01:34:58 | when you're trading with a funded account, with a prop firm, or if you're |
| 1080 | 01:34:58 --> 01:35:02 | managing other people's money, you. Because I have students that are delving |
| 1081 | 01:35:02 --> 01:35:06 | into that now, and I'm not talking about Mickey Mouse money, like millions of |
| 1082 | 01:35:06 --> 01:35:11 | money, which my opinion. And you know who you are to just recently email me. |
| 1083 | 01:35:12 --> 01:35:17 | My opinion is no comment if you're if you're choosing to do that. I have no |
| 1084 | 01:35:17 --> 01:35:23 | input on that. I just know that it's very, very, very, very stressful. If |
| 1085 | 01:35:23 --> 01:35:27 | you're okay with that kind of stress, have fun. Don't do anything differently. |
| 1086 | 01:35:27 --> 01:35:33 | You're gonna trade. Just trade with a whole lot less risk. But I don't want to |
| 1087 | 01:35:33 --> 01:35:37 | comment anymore on that, because I don't I, I'm not, I'm not going to do that, |
| 1088 | 01:35:37 --> 01:35:40 | because I just know it's very, it's very, very stressful to manage other |
| 1089 | 01:35:40 --> 01:35:47 | people's money with that level. I think that's it. I gave you that's more than I |
| 1090 | 01:35:47 --> 01:35:51 | wanted to you got another 46 minutes beyond what I said I was willing to do. |
| 1091 | 01:35:51 --> 01:35:55 | Today. I spent a little bit of my birthday with you. Seattle. In the |
| 1092 | 01:35:55 --> 01:36:00 | balance, we wicked above that New Day opening. Got to what random level right |
| 1093 | 01:36:00 --> 01:36:04 | there, and then we move back down to make another little low |
| 1094 | 01:36:10 --> 01:36:14 | watch right here. Okay? Because all of this is pretty, pretty well balanced. If |
| 1095 | 01:36:14 --> 01:36:20 | it remains heavy at 10 o'clock or leading into 10 o'clock, we might get |
| 1096 | 01:36:20 --> 01:36:24 | some kind of a silver bullet. It could try to explore a little bit deeper in |
| 1097 | 01:36:24 --> 01:36:27 | here. It doesn't mean it's going to keep falling out of bed, but based on what |
| 1098 | 01:36:27 --> 01:36:31 | it's doing right now, at the very moment where we're looking at it, I'd give it |
| 1099 | 01:36:31 --> 01:36:37 | an opportunity to see that. I would rather see this stay open or not open, |
| 1100 | 01:36:37 --> 01:36:40 | but not traded too, because they're relative equal highs right now, I'd like |
| 1101 | 01:36:40 --> 01:36:45 | to see it come back down and upset this. Where's that? Right here. Come down and |
| 1102 | 01:36:45 --> 01:36:49 | hit that. Let everybody think it's going to drop, and then wake them across the |
| 1103 | 01:36:49 --> 01:36:52 | coast and take it back up here in the afternoon, or going into the lunch hour. |
| 1104 | 01:36:53 --> 01:36:59 | If I was making the market for NASDAQ, that's how I'd do it. But I'm just a |
| 1105 | 01:36:59 --> 01:37:02 | demo baller. I don't know anything. I had fun today. I hope you learned |
| 1106 | 01:37:02 --> 01:37:06 | something. If you did, I'd appreciate you giving me a thumbs up. I didn't |
| 1107 | 01:37:06 --> 01:37:12 | check yesterday's live stream, and because it abruptly ended, and I had no |
| 1108 | 01:37:12 --> 01:37:17 | control over that, it just, they just turned off the stream, and I couldn't do |
| 1109 | 01:37:17 --> 01:37:23 | anything about so I didn't bother trying to restart it. I just left it the way it |
| 1110 | 01:37:23 --> 01:37:27 | is. I don't even know what the last few words were that I was saying, but I was |
| 1111 | 01:37:27 --> 01:37:31 | pretty much done teaching. It was more or less me coaching and encouraging my |
| 1112 | 01:37:31 --> 01:37:35 | son to just keep his focus on what it is he's trying to learn, versus other |
| 1113 | 01:37:35 --> 01:37:39 | people's opinions, whether it be about me or or our ability to read Christ |
| 1114 | 01:37:39 --> 01:37:44 | action as a community, it's hard to it's hard to argue against the stuff when you |
| 1115 | 01:37:44 --> 01:37:49 | see it over a live chart where it's being explained, and especially with |
| 1116 | 01:37:49 --> 01:37:55 | this very, very small time frame like this, it's not random. It leaves the |
| 1117 | 01:37:56 --> 01:38:03 | viewer with a sense of astonishment. It is impressive to see the prognostication |
| 1118 | 01:38:03 --> 01:38:07 | that's available to you when you understand what it is it's doing and why |
| 1119 | 01:38:07 --> 01:38:11 | is it doing it. And you're not surprised, you're not scared, you're not |
| 1120 | 01:38:11 --> 01:38:15 | nervous. If I didn't know what I was doing, I certainly wouldn't be able to |
| 1121 | 01:38:15 --> 01:38:18 | sit out here and explain this stuff over a live chart, because I'd be afraid that |
| 1122 | 01:38:18 --> 01:38:25 | it wouldn't pan out. And I think that if you listen to me, I don't sound like I'm |
| 1123 | 01:38:25 --> 01:38:29 | animated at all, except for me making my dad jokes like I do all the time, like |
| 1124 | 01:38:29 --> 01:38:33 | that type of stuff is that's synonymous with that's my delivery mechanism. |
| 1125 | 01:38:33 --> 01:38:37 | That's how I talk with you all. But I'm not in any way afraid that this stuff's |
| 1126 | 01:38:37 --> 01:38:40 | going to fall out of style, like I mentioned before. It's going to keep |
| 1127 | 01:38:40 --> 01:38:44 | working, and the time that you're wasting worrying about all that stuff, |
| 1128 | 01:38:45 --> 01:38:49 | when the market's presenting opportunities for you to make your |
| 1129 | 01:38:49 --> 01:38:54 | grocery bill, to make your car, to make your home rent or mortgage payment a |
| 1130 | 01:38:54 --> 01:39:01 | little less painful or entirely covered, all you're wasting your opportunity and |
| 1131 | 01:39:01 --> 01:39:04 | time that could have been used to just go through the things that I'm teaching |
| 1132 | 01:39:04 --> 01:39:09 | you to do, that I'm putting my son through, and he has to subject himself |
| 1133 | 01:39:09 --> 01:39:13 | to doing these types of things, and when you see it pan out, it's really |
| 1134 | 01:39:13 --> 01:39:16 | rewarding, and you don't need to have any profit yet, because you're seeing |
| 1135 | 01:39:16 --> 01:39:21 | progress. And that's why people quit trading. That's the number one reason |
| 1136 | 01:39:21 --> 01:39:25 | why people quit trading, because it ain't the money that they made, even |
| 1137 | 01:39:25 --> 01:39:29 | when they gambled, that keeps them wanting to trade. It's the the truth |
| 1138 | 01:39:29 --> 01:39:33 | that's deep down inside their core, that they know what they did to earn that |
| 1139 | 01:39:33 --> 01:39:37 | money was absolutely fucking luck. It was not skill, and they can parade it |
| 1140 | 01:39:37 --> 01:39:41 | around on the internet like it was skill, but it isn't. It's not based on |
| 1141 | 01:39:41 --> 01:39:44 | anything, but it just happened, just like it happens for people when they buy |
| 1142 | 01:39:44 --> 01:39:49 | the lottery tickets or scratch offs or go to the casino, those moments of where |
| 1143 | 01:39:49 --> 01:39:54 | it just happened to be good for them. How can you attribute skill to going in |
| 1144 | 01:39:54 --> 01:39:58 | and buying a scratch off lottery ticket or picking a random lottery ticket? |
| 1145 | 01:39:58 --> 01:40:02 | You're in the line of how. Remember the main people there are, and you just |
| 1146 | 01:40:02 --> 01:40:06 | happen to get up to the register at that time, and then you ask the person to |
| 1147 | 01:40:06 --> 01:40:10 | give you a random lottery ticket. You didn't pick the number. He just bought a |
| 1148 | 01:40:10 --> 01:40:14 | random pick. And then it happened to be the winning ticket. You can't say that |
| 1149 | 01:40:14 --> 01:40:20 | skill. That's you just got lucky there. And sometimes, unfortunately, in trading |
| 1150 | 01:40:20 --> 01:40:25 | individuals when we do things we shouldn't do before, we should do them, |
| 1151 | 01:40:25 --> 01:40:29 | which is push a button on a live account and risk real money when that happens, |
| 1152 | 01:40:30 --> 01:40:34 | and we have a positive expectation met, where we hope to make money, and it |
| 1153 | 01:40:34 --> 01:40:38 | does. Chances are you probably got out of the level you didn't want to get out |
| 1154 | 01:40:38 --> 01:40:44 | at, and it's probably a level that is before or earlier than you wanted to get |
| 1155 | 01:40:44 --> 01:40:49 | out, but because you've never made money before, this now is $1,000 or 500 bucks, |
| 1156 | 01:40:50 --> 01:40:52 | and it's a lot of money to you because you've never made any money in the |
| 1157 | 01:40:52 --> 01:40:57 | market. And then you close the trade, and you want to tell yourself and |
| 1158 | 01:40:57 --> 01:41:02 | project that over the internet and say, This is my trade today. I made money. I |
| 1159 | 01:41:02 --> 01:41:07 | made real money. What did you do? You're a demo wallet like ICT or whatever. That |
| 1160 | 01:41:07 --> 01:41:17 | type of behavior and activity is. You literally lying to yourself and |
| 1161 | 01:41:17 --> 01:41:22 | condition yourself to believe that you're prepared to continuously do that. |
| 1162 | 01:41:22 --> 01:41:28 | When I teach, I teach a manner in which that you're going to learn how to do |
| 1163 | 01:41:28 --> 01:41:32 | this. It's going to be harder than you want it to be. It's going to take longer |
| 1164 | 01:41:32 --> 01:41:36 | than you want it to take, but once you get through it, you never have to go |
| 1165 | 01:41:36 --> 01:41:41 | through that ever again. It's like riding a bike. I don't even know the |
| 1166 | 01:41:41 --> 01:41:44 | last time I got on the bicycle, but I'm quite fucking certain I can ride that |
| 1167 | 01:41:44 --> 01:41:48 | bike. I can pretty much go anywhere I want to go in okay, even in bad weather. |
| 1168 | 01:41:49 --> 01:41:55 | So it's just like that. It's like knowing what it is that you're doing at |
| 1169 | 01:41:55 --> 01:42:00 | your job, but your job's only going to pay you what your company is willing to |
| 1170 | 01:42:00 --> 01:42:04 | pay you, but you have to go there every day, the time they tell you to go there |
| 1171 | 01:42:04 --> 01:42:08 | and stay there, as long as they tell you to stay there or you don't maintain that |
| 1172 | 01:42:08 --> 01:42:16 | gainful employment. If you go outside of the parameters, you lose the job. That |
| 1173 | 01:42:16 --> 01:42:19 | means you lose the income. That's like blowing your account in trading, well, |
| 1174 | 01:42:19 --> 01:42:23 | in trading, you have to start the same way. You have to submit to the boss |
| 1175 | 01:42:23 --> 01:42:28 | that's you, your future trading self that knows what they're doing. If you |
| 1176 | 01:42:28 --> 01:42:32 | have time machine, you go back in time, your future successful self will be |
| 1177 | 01:42:32 --> 01:42:35 | telling you what I'm telling you. Listen, this is going to suck. It's |
| 1178 | 01:42:35 --> 01:42:38 | going to be boring. It's going to be a monotonous task. It's going to be |
| 1179 | 01:42:38 --> 01:42:42 | mundane and redundant, and you're not going to make any money initially for |
| 1180 | 01:42:42 --> 01:42:49 | months, but stick with it. Stick with it. If you do the experience that you |
| 1181 | 01:42:49 --> 01:42:55 | garner from it, you glean all this positive self talk, and you focus on the |
| 1182 | 01:42:55 --> 01:43:00 | things that are are beneficial to you, and you endure the things that are |
| 1183 | 01:43:00 --> 01:43:04 | hardships and opportunities for you to learn better what you did wrong. But you |
| 1184 | 01:43:04 --> 01:43:10 | don't vilify those moments. You don't say and I that up. I didn't I didn't do |
| 1185 | 01:43:10 --> 01:43:13 | that right. If I would have traded with real money there, I would have lost my |
| 1186 | 01:43:13 --> 01:43:18 | ass. That's That's not how you record any observation in your journal, and |
| 1187 | 01:43:18 --> 01:43:21 | that's not how you think about it either. You may be watching the tape, |
| 1188 | 01:43:22 --> 01:43:25 | just watching and observing and saying, Okay, here's an opportunity to see if |
| 1189 | 01:43:25 --> 01:43:32 | the market behaves a certain manner here. But when it starts to turn on you, |
| 1190 | 01:43:32 --> 01:43:36 | you should not feel any body symptoms, but you're going to be aware of it. I |
| 1191 | 01:43:36 --> 01:43:43 | want you to think about it. When you start doing this, you breathe. Breathing |
| 1192 | 01:43:43 --> 01:43:47 | starts to speed up, or you start breathing through your mouth. That's the |
| 1193 | 01:43:47 --> 01:43:52 | first indication that you're now feeling stress and anxiety. And if you don't |
| 1194 | 01:43:52 --> 01:43:56 | check that, you'll develop that as a habit. And when you start trading with |
| 1195 | 01:43:56 --> 01:44:01 | real money, they will become full blown panic attacks, which will distract you |
| 1196 | 01:44:01 --> 01:44:05 | from watching the trade, even though the trade may still be viable and profitable |
| 1197 | 01:44:05 --> 01:44:09 | if you just stick with it, but because it's real money and you're watching the |
| 1198 | 01:44:09 --> 01:44:13 | ticker of the profit loss, little thing when you when you put a trade on, it'll |
| 1199 | 01:44:13 --> 01:44:19 | tell you what your open profit or loss is. You're going to be fixed on that and |
| 1200 | 01:44:19 --> 01:44:24 | not watching the candlesticks, and that's toxic thinking. It's toxic trade |
| 1201 | 01:44:24 --> 01:44:28 | management. You're trading your equity and you're not trading price action, |
| 1202 | 01:44:29 --> 01:44:34 | which is why you should not have your P L being shown on trader. I'm trying on |
| 1203 | 01:44:34 --> 01:44:38 | the trade while you're first taking your your trades, because you want to |
| 1204 | 01:44:38 --> 01:44:42 | condition yourself to focus on the price action. Is the chart still delivering? |
| 1205 | 01:44:42 --> 01:44:46 | Is it still doing the things that you were thinking it was expected to do at |
| 1206 | 01:44:46 --> 01:44:49 | the beginning of your trade, before you even enter the trade? Because as long as |
| 1207 | 01:44:49 --> 01:44:53 | those things are checking the boxes, yes, yes, yes. Who gives a shit what the |
| 1208 | 01:44:53 --> 01:44:57 | profit is? Because until you close the trade or get stopped out that month, |
| 1209 | 01:44:57 --> 01:45:01 | that number is not the number. It's going to be different. Higher, but |
| 1210 | 01:45:01 --> 01:45:04 | you're watching it because you're getting a dopamine hit every time it |
| 1211 | 01:45:04 --> 01:45:09 | makes a higher equity high, and then then you're feeling adrenaline and |
| 1212 | 01:45:09 --> 01:45:14 | cortisol when you're in drawdown. And it was moving away from the highest point |
| 1213 | 01:45:14 --> 01:45:18 | of the open trade equity, the highest point the profit was there. If you would |
| 1214 | 01:45:18 --> 01:45:21 | have closed it, then you're going to start thinking, I wish I would have |
| 1215 | 01:45:21 --> 01:45:25 | closed that. Are you watching price action when you're doing that? No, but |
| 1216 | 01:45:25 --> 01:45:29 | what are you doing? You're feeding your subconscious fear, anxiety, regret, |
| 1217 | 01:45:30 --> 01:45:35 | depression. So what are you gonna What are you gonna tap into? The next time |
| 1218 | 01:45:35 --> 01:45:38 | you sit in front of a chart and you do another engagement of price action, |
| 1219 | 01:45:39 --> 01:45:43 | entering a trade, even if it's demo, you're going to revert back to that same |
| 1220 | 01:45:43 --> 01:45:49 | toxic experience that you just left. So you have to be very guarded on how you |
| 1221 | 01:45:49 --> 01:45:54 | manage your perception of yourself, how you manage yourself, you have to keep |
| 1222 | 01:45:54 --> 01:45:57 | yourself calm. And |
| 1223 | 01:45:58 --> 01:46:02 | there's a lot of things that I'm capable of sharing in terms of managing the |
| 1224 | 01:46:02 --> 01:46:08 | stress and managing the anxiety that will initially be there, but it's mainly |
| 1225 | 01:46:08 --> 01:46:13 | around your breath, like breathing slow breathing through your nose, and also |
| 1226 | 01:46:13 --> 01:46:20 | self talk, because if you have your conscience On talking to yourself |
| 1227 | 01:46:20 --> 01:46:24 | positive saying, Okay, this is I want to see this. This is exactly what I'm |
| 1228 | 01:46:24 --> 01:46:28 | hoping to see, because this is supporting my original trade idea. But |
| 1229 | 01:46:28 --> 01:46:33 | even if it turns around, it's okay, because I have a idea that if it goes to |
| 1230 | 01:46:33 --> 01:46:37 | this threshold, if this was a trade, it would stop me out, and it would be |
| 1231 | 01:46:37 --> 01:46:41 | minuscule in terms of any damage, that would never take me completely on the |
| 1232 | 01:46:41 --> 01:46:45 | game. So I'm focusing on what price is doing right now, and everything is |
| 1233 | 01:46:45 --> 01:46:49 | indicating to me that's still moving in my favor. And every down close candle is |
| 1234 | 01:46:49 --> 01:46:53 | supporting a move higher, or every up close candle is supporting lower prices |
| 1235 | 01:46:53 --> 01:46:56 | that still has a target to reach for. There's an inefficiency or relatively |
| 1236 | 01:46:56 --> 01:46:59 | below that I'm holding for. I'm submitting to that. I don't need to rush |
| 1237 | 01:46:59 --> 01:47:03 | my stop loss. This is not the last trade I'm going to take. Everything I'm doing |
| 1238 | 01:47:03 --> 01:47:07 | is I'm doing everything as I'm supposed to. I'm sticking to the process, and it |
| 1239 | 01:47:07 --> 01:47:11 | feels good doing that. I have no anxiety about this, because everything I'm doing |
| 1240 | 01:47:11 --> 01:47:16 | is exactly pre planned and pre scripted. I know what this is likely to do, and |
| 1241 | 01:47:16 --> 01:47:21 | I'm fulfilling my obligation in following this procedures as I should. |
| 1242 | 01:47:22 --> 01:47:27 | There's nothing negative there is there you're being objective, you're |
| 1243 | 01:47:27 --> 01:47:32 | reinforcing things positively, and you're canceling out any potential for |
| 1244 | 01:47:32 --> 01:47:38 | negative stimuli to make you feel regret or fear or anxiety. And that's exactly |
| 1245 | 01:47:38 --> 01:47:42 | what professional traders are doing, whether audibly, like I just did in the |
| 1246 | 01:47:42 --> 01:47:46 | beginning, you need to do it audibly. That's why you have to be you have to |
| 1247 | 01:47:46 --> 01:47:50 | have a space away from everybody else. You don't want anybody looking at you or |
| 1248 | 01:47:50 --> 01:47:54 | listening to you and interrupting your train of thought. If you have animals |
| 1249 | 01:47:54 --> 01:47:57 | and pets like I do, they gotta be away from you. Every single time I've allowed |
| 1250 | 01:47:57 --> 01:48:00 | my pets in, they've always been a distraction, because I'm going to stop |
| 1251 | 01:48:00 --> 01:48:03 | and pet them and love all over them, and if they ain't enough love for them, then |
| 1252 | 01:48:03 --> 01:48:07 | they start jumping in my lap, and then all of a sudden, I just missed an |
| 1253 | 01:48:07 --> 01:48:11 | opportunity to take a partial. And then now what has happened, man, if I would |
| 1254 | 01:48:11 --> 01:48:15 | have took that partial off, where's my thought process? I'm not in the trade |
| 1255 | 01:48:15 --> 01:48:19 | anymore. I'm in the I'm in hindsight. I'm hanging on something I should have |
| 1256 | 01:48:19 --> 01:48:22 | done but didn't do. So I end up usually closing the trade, or at least 50% of |
| 1257 | 01:48:22 --> 01:48:27 | the trade. That's my mechanism for managing that, because I've already been |
| 1258 | 01:48:27 --> 01:48:32 | distracted and I could potentially have lost the plot. So to avoid that thing, |
| 1259 | 01:48:33 --> 01:48:39 | no new interactions. Okay, when my door is closed on my office, no one comes |
| 1260 | 01:48:39 --> 01:48:44 | knocking and my wife or children keep my pets downstairs. They're not allowed to |
| 1261 | 01:48:44 --> 01:48:47 | come to the door and scratch and let me know that they want to come and see me. |
| 1262 | 01:48:47 --> 01:48:51 | I'll see them when I'm done working, or when I'm done doing like these live |
| 1263 | 01:48:51 --> 01:48:56 | streams or lectures, and this is time to focus, and that's how you manage all |
| 1264 | 01:48:56 --> 01:49:01 | those things. But you're still going to feel it, and you're gonna have to cope |
| 1265 | 01:49:01 --> 01:49:07 | with it, and it's manageable, but in the beginning, you're going to feel them. |
| 1266 | 01:49:07 --> 01:49:13 | You're going to feel all these scary thoughts and feelings and the report |
| 1267 | 01:49:13 --> 01:49:19 | card mentality. Am I doing this? Am I going to be successful the more times |
| 1268 | 01:49:19 --> 01:49:24 | you expose yourself to watching price action without pushing a button, the |
| 1269 | 01:49:24 --> 01:49:28 | more acclimated you are to eventually get to the point where you can do a demo |
| 1270 | 01:49:28 --> 01:49:33 | trade. Because if you do anything with a demo account, prior to spending time |
| 1271 | 01:49:33 --> 01:49:36 | with reading price and tape reading and developing these skill sets within |
| 1272 | 01:49:36 --> 01:49:42 | yourself and managing your expectations, managing your emotions, managing the the |
| 1273 | 01:49:42 --> 01:49:46 | stimuli that you're receiving by watching price if it moves in your |
| 1274 | 01:49:46 --> 01:49:49 | favor, when it's not moving in your favor, you don't know anything about |
| 1275 | 01:49:49 --> 01:49:54 | yourself as a trader. If you're brand new, if you haven't done this, you learn |
| 1276 | 01:49:54 --> 01:49:57 | just how ill equipped you are when you start trading with real money and you |
| 1277 | 01:49:57 --> 01:50:01 | don't know how to trade. The only thing that does. Is trading with real money, |
| 1278 | 01:50:01 --> 01:50:06 | and I don't care if it's $100 account, that's bullshit. That's absolute asinine |
| 1279 | 01:50:06 --> 01:50:10 | bullshit. To start trading with any amount of money that's real because now |
| 1280 | 01:50:10 --> 01:50:15 | you have skin in the race. An ass has to tell you to try to learn how to trade |
| 1281 | 01:50:15 --> 01:50:18 | with real money, or you ain't really learning how to trade. That's an idiot. |
| 1282 | 01:50:19 --> 01:50:25 | That is an absolutely fucking idiot because you're putting so much toxicity |
| 1283 | 01:50:25 --> 01:50:30 | and negative thinking around every aspect of your decision making and |
| 1284 | 01:50:30 --> 01:50:36 | execution and management of that trade that you are fortifying and guaranteeing |
| 1285 | 01:50:36 --> 01:50:43 | that you're going to always trade in fear anyone that tells you different is |
| 1286 | 01:50:43 --> 01:50:49 | a fucking liar, and they aren't making money, period. That's this bottom line, |
| 1287 | 01:50:49 --> 01:50:54 | truth. The only way you're going to get to this point where you're completely |
| 1288 | 01:50:55 --> 01:51:00 | like you're completely detached like a psychopath, there's no remorse for the |
| 1289 | 01:51:00 --> 01:51:05 | victim. On the other side of my trade. I have zero fucking empathy for the person |
| 1290 | 01:51:05 --> 01:51:09 | that's on the other side of my trade. I have zero empathy. I don't lose sleep |
| 1291 | 01:51:09 --> 01:51:15 | over them. I'm not worried about that. I don't care. I want them to lose. I want |
| 1292 | 01:51:15 --> 01:51:20 | any person that's on the other side of my trade, I want them to fucking lose. |
| 1293 | 01:51:21 --> 01:51:30 | That's the way we eat here, like a lion, like wolves, they don't want to torture |
| 1294 | 01:51:30 --> 01:51:34 | they don't want to torture the animal, but they want to kill it because they |
| 1295 | 01:51:34 --> 01:51:37 | want to devour and eat it because they need that sustenance. They want to feed |
| 1296 | 01:51:37 --> 01:51:43 | themselves. They want to feed their their pride or their pack? Well, I have, |
| 1297 | 01:51:44 --> 01:51:49 | I have a family, and I'm fucking alpha, so I have to do things and make |
| 1298 | 01:51:49 --> 01:51:54 | decisions that I can live with or have to live with, and the only way you're |
| 1299 | 01:51:54 --> 01:51:58 | going to get through this without a conscience and moral dilemma is that |
| 1300 | 01:51:59 --> 01:52:04 | everybody understands the risks. And if you've ever listened to me, you |
| 1301 | 01:52:04 --> 01:52:09 | understand that it's hard, it's going to take you longer. It's not going to be |
| 1302 | 01:52:09 --> 01:52:14 | easy for you. But once you understand you and what you're trying to do, and |
| 1303 | 01:52:14 --> 01:52:17 | you spend time in the charts, trading will get real, real easy for you, |
| 1304 | 01:52:17 --> 01:52:21 | because you're going to do a whole lot less trading. Whereas right now, you |
| 1305 | 01:52:21 --> 01:52:26 | want to do it every day, every session, multiple times. You think high frequency |
| 1306 | 01:52:26 --> 01:52:30 | trading is an everyday appetite that you should walk into these markets with. |
| 1307 | 01:52:30 --> 01:52:37 | It's not. You have to have a balance. And without balancing, I see we're |
| 1308 | 01:52:37 --> 01:52:41 | talking the whole way out of this there. Well, we traded down into this area here |
| 1309 | 01:52:42 --> 01:52:47 | we hit it, and then went up for the relative equal highs, and it did that. |
| 1310 | 01:52:47 --> 01:52:53 | What time is it? 10 o'clock? So there you go. So that's a pretty good read on |
| 1311 | 01:52:53 --> 01:52:59 | a 15 second chart, right? I'm on 15 second, yeah. So how much? How much |
| 1312 | 01:52:59 --> 01:53:05 | could you have harvested from all the fluctuations today. That's your that's |
| 1313 | 01:53:05 --> 01:53:11 | your homework. Go through all this price action, all of the previous price |
| 1314 | 01:53:11 --> 01:53:15 | action, after 830 over here, how much of that could you reasonably expect for |
| 1315 | 01:53:15 --> 01:53:19 | yourself? Low end, it don't do the high end Don't do the best scenario of where |
| 1316 | 01:53:19 --> 01:53:23 | you could have got a perfect entry and a perfect exit. Could you have taken 25 |
| 1317 | 01:53:24 --> 01:53:31 | handles out of this today? Could you have taken 110 handle trade with little |
| 1318 | 01:53:31 --> 01:53:36 | to no drawdown? Could you have taken 50 handles out explore that, go into the |
| 1319 | 01:53:36 --> 01:53:39 | price action and look for those types of things. And by doing that, unless you |
| 1320 | 01:53:39 --> 01:53:44 | start seeking and looking for it, you're not going to discover what your ideal |
| 1321 | 01:53:44 --> 01:53:50 | model is. Your ideal model might simply just be 20 handles a day. It might be 15 |
| 1322 | 01:53:50 --> 01:53:54 | handles a day, and you're content with that. You're done. Others, it might be |
| 1323 | 01:53:54 --> 01:53:58 | 75 handles, and it might take you 325 handle runs to get it. There's nothing |
| 1324 | 01:53:58 --> 01:54:05 | wrong with that, but I don't want to press you into a specific locked in only |
| 1325 | 01:54:05 --> 01:54:12 | this way, because my my methods afford you flexibility. You can do whatever you |
| 1326 | 01:54:12 --> 01:54:16 | want to do. All you have to do is know when the price is going to behave in a |
| 1327 | 01:54:16 --> 01:54:22 | manner that is conducive for that to pan out. Look at this 15 second chart. This |
| 1328 | 01:54:22 --> 01:54:27 | looks like it's like a whole week of price action, but every individual |
| 1329 | 01:54:27 --> 01:54:33 | candlestick is 15 seconds. So everything you're seeing here is no different than |
| 1330 | 01:54:33 --> 01:54:37 | what you would have looked at over the span of a week with a one hour chart. |
| 1331 | 01:54:41 --> 01:54:46 | There's opportunities all the time, all the time, and I said I was going to show |
| 1332 | 01:54:46 --> 01:54:54 | you that one second chart at 830 just to show you that it's pretty much |
| 1333 | 01:54:54 --> 01:54:58 | untradable. At 830 when it first released, you either had to be |
| 1334 | 01:54:58 --> 01:55:00 | positioned beforehand, or you just. Mistake. |
| 1335 | 01:55:14 --> 01:55:17 | So if you like, today's lesson and you learn something, the way, you tell me, |
| 1336 | 01:55:18 --> 01:55:20 | is you have the thumbs up button. |
| 1337 | 01:55:30 --> 01:55:33 | I don't notice your thumbs down if you do that, and it doesn't change anything |
| 1338 | 01:55:33 --> 01:55:37 | when you do. I just look at the number. I don't look at the analytics page about |
| 1339 | 01:55:37 --> 01:55:45 | it. Some people obsess about that. I think it's pointless. So this is a one |
| 1340 | 01:55:45 --> 01:55:52 | second chart that means every single candlestick in this time frame is |
| 1341 | 01:55:52 --> 01:55:59 | represented by one second of open, high, low and close. So right here, that's 830 |
| 1342 | 01:56:00 --> 01:56:04 | right there at the turn of 830 even notice, there's no there's no additional |
| 1343 | 01:56:04 --> 01:56:08 | seconds or anything like that. And then we had this big run. So in one second, |
| 1344 | 01:56:10 --> 01:56:17 | we traversed from 17,009 86 and three quarters, to 18,037 and three quarters. |
| 1345 | 01:56:18 --> 01:56:29 | So in one second, boom, just like that, 50 handles or so one second. If you're |
| 1346 | 01:56:29 --> 01:56:34 | offside and you're trading one contract, man, you're getting pinched, aren't you? |
| 1347 | 01:56:34 --> 01:56:39 | What happens if you're doing that 15 contract, trying to use it from an |
| 1348 | 01:56:39 --> 01:56:47 | account? You're smoked Well, let me get the refund this account. Link here and |
| 1349 | 01:56:47 --> 01:56:54 | put that through. Got a line tell my wife had to buy a tire. Market drops |
| 1350 | 01:56:54 --> 01:57:03 | down, rallies again. What is this? What's that right there? It's a fair |
| 1351 | 01:57:03 --> 01:57:11 | value gap. But where is it? What's this level here? Consequence, encroachment on |
| 1352 | 01:57:11 --> 01:57:17 | Wednesdays, New Day opening gap. So you have a fair value gap, it drops down |
| 1353 | 01:57:17 --> 01:57:18 | 123, |
| 1354 | 01:57:20 --> 01:57:23 | times rally |
| 1355 | 01:57:25 --> 01:57:32 | trading up into Tuesday's New Day, opening gap trades back down into all of |
| 1356 | 01:57:32 --> 01:57:36 | this, which is a balanced price range. What makes us a balanced price range? If |
| 1357 | 01:57:36 --> 01:57:37 | you look inside, |
| 1358 | 01:57:39 --> 01:57:42 | do you have come on, |
| 1359 | 01:57:51 --> 01:58:00 | up down, up down. So it's painted like, say, this is a wall in your house. The |
| 1360 | 01:58:00 --> 01:58:05 | paint is coming off that roller. Really ample, really nice. And then you start |
| 1361 | 01:58:05 --> 01:58:09 | going to another area where there's no paint yet, and you paint all this up |
| 1362 | 01:58:09 --> 01:58:12 | here, and then you come right back down to where you finished before. You don't |
| 1363 | 01:58:12 --> 01:58:16 | need to go deep into that. Why? Because this has all been balanced. That's why |
| 1364 | 01:58:16 --> 01:58:19 | you see it's right down to here. There's no need for it to explore into this |
| 1365 | 01:58:19 --> 01:58:27 | range deeper so what is it doing? Using quadrants of that same balance price |
| 1366 | 01:58:27 --> 01:58:32 | range, put your fiber or something like that, and study that see what it's |
| 1367 | 01:58:32 --> 01:58:40 | doing. Everything is mathematically controlled by an algorithm. Everything |
| 1368 | 01:58:40 --> 01:58:45 | but it has to refer to specific things in price action that's already happened. |
| 1369 | 01:58:45 --> 01:58:51 | All of these calculations are happening so fast because it's computerized, and |
| 1370 | 01:58:51 --> 01:58:57 | it's cycling through time frames like real quick, and it's referring back to |
| 1371 | 01:58:57 --> 01:59:00 | them really quick, and making decisions and bang. But you think this is buying |
| 1372 | 01:59:00 --> 01:59:04 | and selling pressure, because it's easier to disbelieve that it's easier to |
| 1373 | 01:59:04 --> 01:59:08 | believe that, and it makes you sleep at night that it can't be this manipulated |
| 1374 | 01:59:08 --> 01:59:11 | and controlled, because if it's this manipulated controlled, that means that |
| 1375 | 01:59:11 --> 01:59:14 | they have strings on it, and they can tug their strings anytime they want and |
| 1376 | 01:59:14 --> 01:59:17 | have an outcome if they want to see and that's all I'm trying to tell you. |
| 1377 | 01:59:17 --> 01:59:20 | That's what it is. And you shouldn't be mad about that. You should be thankful |
| 1378 | 01:59:20 --> 01:59:23 | that the markets are rigged. I am. I'm certainly thankful of it. I don't look |
| 1379 | 01:59:23 --> 01:59:27 | at like a casino and say, You assholes. I know if I go there, I'm going to lose |
| 1380 | 01:59:27 --> 01:59:30 | my money, because it's rigged to the degree that you're going to screw you if |
| 1381 | 01:59:30 --> 01:59:33 | you start winning, they're going to escort you out the door. You're not |
| 1382 | 01:59:33 --> 01:59:36 | going to be allowed to play there anymore. Ask any count card, any card |
| 1383 | 01:59:36 --> 01:59:41 | counter in Las Vegas, they know him, and they're not allowed to be in there |
| 1384 | 01:59:41 --> 01:59:46 | because they're beating them. Does that sound like it's a fair place to gamble |
| 1385 | 01:59:46 --> 01:59:53 | at no if somebody can count cards, guess what? It's not easy to do. It's not easy |
| 1386 | 01:59:53 --> 01:59:57 | to do that. So they have a skill set, and they're matching that skill set |
| 1387 | 01:59:57 --> 02:00:01 | against your probabilities and your stack decks. In the eye in the sky and |
| 1388 | 02:00:01 --> 02:00:10 | the rib games they use. But even on the smaller time frame, like a one second |
| 1389 | 02:00:10 --> 02:00:15 | chart, you can see the same phenomenon as repeating fair value gaps, trading to |
| 1390 | 02:00:15 --> 02:00:26 | the levels, reacting off of them. You It's gravitating around the lower |
| 1391 | 02:00:26 --> 02:00:31 | quadrant in the midpoint. Consequence, look at respect to here a one second |
| 1392 | 02:00:31 --> 02:00:39 | chart. Look at respected there of the bodies. All this in here on a one second |
| 1393 | 02:00:39 --> 02:00:44 | chart. And there's no algorithm. There's no way, there's an algorithm. There's no |
| 1394 | 02:00:44 --> 02:00:47 | way you could never prove to me. ICT, there's an algorithm. Where is this |
| 1395 | 02:00:47 --> 02:00:53 | algorithm? At Tom who guard, someone sent me a clip Tom who guard said, Where |
| 1396 | 02:00:53 --> 02:00:57 | is this algorithm? It's in your charts. That's the closest thing you're ever |
| 1397 | 02:00:57 --> 02:01:02 | going to see. But if you don't want to believe it, because it upsets your |
| 1398 | 02:01:02 --> 02:01:07 | narrative or your your school of thought. It's just much painless, much |
| 1399 | 02:01:07 --> 02:01:12 | more painless for you to say, No, I don't believe in an algorithm. Okay, |
| 1400 | 02:01:14 --> 02:01:17 | you're not going to make me have the same thought process. That's for sure. |
| 1401 | 02:01:17 --> 02:01:23 | That's not going to happen with me. But look at look at this. This is a, you |
| 1402 | 02:01:23 --> 02:01:27 | know, Tuesdays New Day opening gap, and you're looking for support resistance |
| 1403 | 02:01:27 --> 02:01:31 | and failing at it, because the support resistance lines you're putting on is |
| 1404 | 02:01:31 --> 02:01:35 | what the books tell you to do an old high and old low, and we target those |
| 1405 | 02:01:35 --> 02:01:39 | things. You see how that's a completely paired, diametrically opposed paradigm |
| 1406 | 02:01:39 --> 02:01:45 | shift from what the losing crowds doing over and over and over again, and the |
| 1407 | 02:01:45 --> 02:01:48 | way they see price, and they're not smart enough to stop doing those things |
| 1408 | 02:01:49 --> 02:01:56 | and reverse it, just do the opposite of that, and then treat these levels as an |
| 1409 | 02:01:56 --> 02:02:02 | opportunity to be attacked because there's orders about that. How hard is |
| 1410 | 02:02:02 --> 02:02:06 | that to understand? I, for the life of me, I don't understand why anybody with |
| 1411 | 02:02:06 --> 02:02:12 | any common sense can't see the truth in that versus I'm looking for a pie, a |
| 1412 | 02:02:12 --> 02:02:17 | pattern, a harmonic crossover, this, that hunting ratio trades and all this |
| 1413 | 02:02:17 --> 02:02:22 | horse it's that's complicated to me. That's a complication. I went through |
| 1414 | 02:02:22 --> 02:02:28 | all that dumb and I said, Okay, what is the real mechanism here? Because when I |
| 1415 | 02:02:28 --> 02:02:32 | put a trade on, if I get stopped out, I lost. So if I lost, somebody got that |
| 1416 | 02:02:32 --> 02:02:38 | money. What were they doing to get to my money? Trading the other direction, |
| 1417 | 02:02:39 --> 02:02:44 | targeting my stop loss. Well, if that's the case, then it should start happening |
| 1418 | 02:02:44 --> 02:02:54 | all day long. And there it was, where the these things form timelines. They're |
| 1419 | 02:02:54 --> 02:02:59 | like traps and snares. Then you lay them down the same spot all the time. You go |
| 1420 | 02:02:59 --> 02:03:03 | out in the woods. If you ever go anywhere in the woods, you'll see a |
| 1421 | 02:03:03 --> 02:03:07 | hide. It's called a hide, where hunters will have, usually, like a tree stand or |
| 1422 | 02:03:07 --> 02:03:13 | something to that effect, and it's sitting there, and they might put deer |
| 1423 | 02:03:13 --> 02:03:16 | feeders or whatnot all around them, and they just keep feeding because they want |
| 1424 | 02:03:16 --> 02:03:20 | the deer to keep coming around. And then when they want to show up to hunt, they |
| 1425 | 02:03:20 --> 02:03:23 | go and they come up in their hide, and they wait for the deer to do what |
| 1426 | 02:03:23 --> 02:03:28 | they've been trained to do, keep coming here as food. Well, that's what the |
| 1427 | 02:03:28 --> 02:03:33 | economic counter has done. It's a watering hole for the Lions to wait for |
| 1428 | 02:03:33 --> 02:03:37 | all the gazelles and the dumb asses to go down there and get a drink. And when |
| 1429 | 02:03:37 --> 02:03:43 | they go down get a drink, it's their last supper, and lions eat. That's what |
| 1430 | 02:03:43 --> 02:03:47 | the economic calendar is for me. It tells me the time when the gazelles are |
| 1431 | 02:03:47 --> 02:03:53 | going to the watering hole. It tells me when my next meal in the marketplace is |
| 1432 | 02:03:53 --> 02:03:58 | coming to get devoured, and I can choose not to go down to the watering hole if I |
| 1433 | 02:03:58 --> 02:03:59 | have something better to do. |
| 1434 | 02:04:01 --> 02:04:02 | And that's a whole lesson in itself. |
| 1435 | 02:04:04 --> 02:04:07 | Just because that there's time and opportunity for you to be in front of |
| 1436 | 02:04:07 --> 02:04:11 | chart doesn't mean that you should be. And that's maturity. It's, it's, that's |
| 1437 | 02:04:11 --> 02:04:16 | you navigating your emotions. Look at this man, look at look how it's |
| 1438 | 02:04:16 --> 02:04:22 | respecting these levels, some random bullshit line dropped on a chart. That's |
| 1439 | 02:04:22 --> 02:04:24 | the goobers will tell you, Oh, eventually it's going to touch one of |
| 1440 | 02:04:24 --> 02:04:29 | those lines missing the entire plot, like missing the whole point of what |
| 1441 | 02:04:29 --> 02:04:35 | this is doing for you, it's giving you a means of determining where price should |
| 1442 | 02:04:35 --> 02:04:41 | fluctuate from or gravitate to. This is the real support and resistance that you |
| 1443 | 02:04:41 --> 02:04:45 | think that these books are teaching you, and when you try to do it, it's never |
| 1444 | 02:04:45 --> 02:04:49 | the right resistance as it goes through and just keeps trading higher, or it's |
| 1445 | 02:04:49 --> 02:04:54 | never the right support you try to buy it and just right through it. It's |
| 1446 | 02:04:54 --> 02:04:58 | demoralizing, isn't it? Consequence of the fair value I got, I told you i. |
| 1447 | 02:05:00 --> 02:05:02 | I hit the low of it. Boom. |
| 1448 | 02:05:04 --> 02:05:09 | Look at these levels. Man, this is one second. It looks just like any other |
| 1449 | 02:05:09 --> 02:05:13 | time frame, doesn't it trading down to the low of Tuesday's new video. Can gap? |
| 1450 | 02:05:16 --> 02:05:17 | Look at that. |
| 1451 | 02:05:19 --> 02:05:24 | There's no algorithm. There's no fucking algorithm, man. There's no way that |
| 1452 | 02:05:24 --> 02:05:26 | these markets are rigged. You could never convince me of it. |
| 1453 | 02:05:32 --> 02:05:35 | I'm telling you, every time I read somebody in somebody else's YouTube |
| 1454 | 02:05:35 --> 02:05:39 | channel, comment on that and say shit like that, tell me you're an idiot |
| 1455 | 02:05:39 --> 02:05:43 | without saying it, that's exactly what you just did, because all you have to do |
| 1456 | 02:05:43 --> 02:05:48 | is study it and see it. It's there. How the fuck is the buying and selling |
| 1457 | 02:05:48 --> 02:05:52 | pressure of all the traders in the world, stopping these prices on a dime |
| 1458 | 02:05:52 --> 02:05:56 | and respecting these levels that no one's ever talked about until I started |
| 1459 | 02:05:56 --> 02:06:00 | talking about, but you can go back in time before I taught them, and you can |
| 1460 | 02:06:00 --> 02:06:04 | find them in your chart, but you can't find Tom dick or fucking Harry or |
| 1461 | 02:06:04 --> 02:06:09 | mentors ever telling you about it. That's not me beating my chest and |
| 1462 | 02:06:09 --> 02:06:14 | bragging. I'm just trying to show you that this stuff is valid. But the people |
| 1463 | 02:06:14 --> 02:06:19 | that can't do it or made a very big argument about it online that there's no |
| 1464 | 02:06:19 --> 02:06:26 | algorithm now they're forced into a huge mob of all of you, now that you know it, |
| 1465 | 02:06:26 --> 02:06:29 | and some of you are very vocal, and I'm telling you, leave them in your |
| 1466 | 02:06:29 --> 02:06:34 | ignorance. Just leave them in it. It's better for you to do that. Just let them |
| 1467 | 02:06:34 --> 02:06:38 | stay stupid. They're just like that gazelle. Only thing they can think of |
| 1468 | 02:06:38 --> 02:06:41 | is, I gotta get a drink, and there's the water hole. Let me go down there, and |
| 1469 | 02:06:41 --> 02:06:49 | they're gone, ghosted. And where are we at here? What's that other level I told |
| 1470 | 02:06:49 --> 02:06:55 | you you could gravitate to? Do you remember that inversion fair value got |
| 1471 | 02:06:55 --> 02:06:56 | above the breaker? You |
| 1472 | 02:07:12 --> 02:07:16 | there's that gap I told you about high, low, high or high. This is where I can |
| 1473 | 02:07:16 --> 02:07:18 | draw to if it goes above here, |
| 1474 | 02:07:20 --> 02:07:26 | what's your chart? Show it's your chart. Show this. What about that |
| 1475 | 02:07:28 --> 02:07:33 | into that balanced price range that showed you little bit ago? So what I |
| 1476 | 02:07:33 --> 02:07:38 | have in front of me when I'm trading, the only thing I work with it today, was |
| 1477 | 02:07:38 --> 02:07:43 | the laptop that I swear in the Lord's name that all of my monitors that I have |
| 1478 | 02:07:43 --> 02:07:49 | in front of me are all off. They're they're all off. But what I have on my |
| 1479 | 02:07:49 --> 02:07:56 | charts is I have a 15 second chart, a one minute chart, a five minute 15 an |
| 1480 | 02:07:56 --> 02:08:02 | hour, a daily, a weekly, a monthly. And then I have a chart that I call a |
| 1481 | 02:08:02 --> 02:08:08 | matrix, where it's a five minute four minute three minute two minute one |
| 1482 | 02:08:08 --> 02:08:14 | minute chart for the NASDAQ, the S, P and the Dow. And what I'm doing is I'm |
| 1483 | 02:08:14 --> 02:08:19 | looking for s and t divergences on all of them at the same time, when I'm |
| 1484 | 02:08:19 --> 02:08:24 | anticipating a fair value gap to form, or a run above old highs. I want to see |
| 1485 | 02:08:24 --> 02:08:29 | it diverge. One of them will fail, and it's like a it's not a necessity for my |
| 1486 | 02:08:29 --> 02:08:32 | trade, but it's just one of those things I like to see as a qualifier. It gives a |
| 1487 | 02:08:32 --> 02:08:36 | little bit more quality behind my analysis, where I already think it's |
| 1488 | 02:08:36 --> 02:08:40 | going to do something anyway, and then it just behaves that way, even more |
| 1489 | 02:08:40 --> 02:08:45 | quicker and more strongly in my favor. And the speed usually really starts to |
| 1490 | 02:08:45 --> 02:08:49 | deliver, because I have that signature behind it. So you don't need SMT, like |
| 1491 | 02:08:49 --> 02:08:54 | you really don't need it to be in your trades. But I like to look for it, |
| 1492 | 02:08:54 --> 02:08:57 | because it gives me that little bit of, uh, okay, she's going to run now and |
| 1493 | 02:08:57 --> 02:09:02 | then she starts taking off, whether higher or lower, based on my analysis |
| 1494 | 02:09:02 --> 02:09:08 | and the SMT forms. So I want you to go back and listen to this again. Okay? And |
| 1495 | 02:09:08 --> 02:09:11 | you'll hear me talk about how, you know, if I was making the market, I would drop |
| 1496 | 02:09:11 --> 02:09:15 | it down, take it down into that area, wipe that out, and then run above the |
| 1497 | 02:09:15 --> 02:09:18 | relative equal highs. Earlier in the day, I told you that it's going to run |
| 1498 | 02:09:18 --> 02:09:22 | up into here and run up into here. If it goes above there, it's delivered all |
| 1499 | 02:09:22 --> 02:09:26 | that, folks, I'm a fucking fraud, right? I'm a fraud. I'm out here doing this in |
| 1500 | 02:09:26 --> 02:09:31 | front of you with a live data feed on the smallest of fucking time frames, one |
| 1501 | 02:09:31 --> 02:09:34 | second. Can you get any smaller than one second? Trading view, you're not. I know |
| 1502 | 02:09:34 --> 02:09:38 | you're listening now. Can you give me a time frame less than one second? Because |
| 1503 | 02:09:38 --> 02:09:44 | if you can, I will trade that too. Okay, I don't have any access to that. Okay, |
| 1504 | 02:09:44 --> 02:09:49 | it's, it's, this is what it is. So I don't know what else to tell you, folks. |
| 1505 | 02:09:49 --> 02:09:53 | Either you're going to sit down and listen, take notes and then stop, just |
| 1506 | 02:09:53 --> 02:09:57 | try it. That's all I'm asking you to do, is try it. I don't have to give you a |
| 1507 | 02:09:57 --> 02:10:01 | refund because you didn't pay for this. You're putting your. Time in to listen |
| 1508 | 02:10:01 --> 02:10:07 | to the rules, what it looks like, how to how to practice it, and observe and |
| 1509 | 02:10:07 --> 02:10:13 | capture the information, logging it. But all of this information doesn't have to |
| 1510 | 02:10:13 --> 02:10:19 | be on the same chart, but you should, if you can afford yourself a monitor, at |
| 1511 | 02:10:19 --> 02:10:23 | least one extra monitor, where you can have this information on a blank chart |
| 1512 | 02:10:23 --> 02:10:27 | without the other stuff there. But because I'm trying to teach you from the |
| 1513 | 02:10:27 --> 02:10:32 | ground up, a lot of you only have one device. That means you're stuck with one |
| 1514 | 02:10:32 --> 02:10:38 | chart, one screen. So it's a little bit harder. It's a lot more juggling between |
| 1515 | 02:10:38 --> 02:10:41 | time frames and whatnot, and you'll have a little bit more stuff on your chart. |
| 1516 | 02:10:42 --> 02:10:46 | But it's possible to grow from that. But you should have a chart that doesn't |
| 1517 | 02:10:46 --> 02:10:56 | have, like the fair Bay gap I have here, or that there for these or that. Okay, |
| 1518 | 02:10:56 --> 02:11:02 | and I taught you yesterday that, sorry, in this too. This shouldn't be earlier, |
| 1519 | 02:11:02 --> 02:11:07 | so you just have your new day opening gaps and new week opening gaps. I told |
| 1520 | 02:11:07 --> 02:11:13 | you how many to have and why. I told you how to determine the bias yesterday, and |
| 1521 | 02:11:13 --> 02:11:17 | I told you how to use these new day gaps. I'm sorry, New Day opening gaps |
| 1522 | 02:11:17 --> 02:11:21 | and new week opening gaps in relationship to when you anticipate |
| 1523 | 02:11:21 --> 02:11:25 | price schooling and moving directionally, and how to determine what |
| 1524 | 02:11:25 --> 02:11:30 | direction it moves for. Well, we were here, where is the clustering of all the |
| 1525 | 02:11:30 --> 02:11:34 | new day opening gaps? Is it above or below that? Above here, here and here? |
| 1526 | 02:11:35 --> 02:11:40 | So where's price going to go up? Then I told you, look at that fair value gap |
| 1527 | 02:11:40 --> 02:11:43 | right there. And then if it's going to go above that, it'll reach into here, |
| 1528 | 02:11:43 --> 02:11:48 | it's done that I would be done if I was trading I'm done. I'm not doing shit |
| 1529 | 02:11:48 --> 02:11:50 | now. I'm not worried about the afternoon. I'm going to have a |
| 1530 | 02:11:50 --> 02:11:54 | strawberry shortcake for birthday cake today. I'm going to chill. I'm probably |
| 1531 | 02:11:54 --> 02:11:58 | going to watch a movie with my wife in my theater. I'm going to kick back and |
| 1532 | 02:11:58 --> 02:12:05 | relax and enjoy being 52 you can do this. Folks, do not let these little |
| 1533 | 02:12:05 --> 02:12:09 | weasel nut motherfuckers on the internet talk you out of it, because it's costing |
| 1534 | 02:12:09 --> 02:12:13 | you nothing but the effort you put in. If you give it a half ass effort, you're |
| 1535 | 02:12:13 --> 02:12:18 | going to get it half ass results. You have no excuse. You have no hindrance |
| 1536 | 02:12:18 --> 02:12:21 | now. You have no reason to be fearful. You have no reason to doubt there's an |
| 1537 | 02:12:21 --> 02:12:24 | algorithm. You have no reason to believe that these things aren't going to work, |
| 1538 | 02:12:24 --> 02:12:29 | because they do fucking work. I come out here, I tell you what's going to happen |
| 1539 | 02:12:29 --> 02:12:34 | over live data on the smallest time, free time, fee, time, time frames and |
| 1540 | 02:12:34 --> 02:12:40 | feed that you all can verify. You all have live streaming of data, just like I |
| 1541 | 02:12:40 --> 02:12:45 | do, if you have live data, you watched everything before it happened today, |
| 1542 | 02:12:45 --> 02:12:51 | again, all of these opportunities that was pointed out to you are not all the |
| 1543 | 02:12:51 --> 02:12:55 | trades that were available. It's just that's the ones that I think, that I |
| 1544 | 02:12:55 --> 02:13:01 | believe that my son Caleb, should focus on those initially, but you only need |
| 1545 | 02:13:01 --> 02:13:05 | one of them, and the one that makes the most sense to you, that's the one that |
| 1546 | 02:13:05 --> 02:13:10 | you're going to work for and look for in all of your blogging and all your |
| 1547 | 02:13:10 --> 02:13:13 | forward testing and watching and reading price action without demoing. And then |
| 1548 | 02:13:13 --> 02:13:17 | when you get real good at noticing and when it's there and how to anticipate |
| 1549 | 02:13:17 --> 02:13:22 | how it's going to form, it's like a fucking time machine. It's like you can |
| 1550 | 02:13:22 --> 02:13:26 | predict tomorrow's weather better than the weatherman. You know the winning |
| 1551 | 02:13:26 --> 02:13:33 | lotteries tomorrow. You know the outcome of a sports event. You're literally a |
| 1552 | 02:13:33 --> 02:13:38 | time traveler, and you can forecast the future. And it feels like a mutant |
| 1553 | 02:13:38 --> 02:13:43 | superpower, and when you do it in the front of other people, they have to say |
| 1554 | 02:13:43 --> 02:13:47 | it has to be fake. This guy has to be a fraud, or this woman is a fraud. She has |
| 1555 | 02:13:47 --> 02:13:51 | to be a fraud. No one could do this. No one should be able to do this. But yeah, |
| 1556 | 02:13:51 --> 02:14:04 | here the fuck I am Enigma, something that shouldn't be, but is, and I'm |
| 1557 | 02:14:04 --> 02:14:16 | gifting this to you. I'm not selfish. I want to see you do well. I know you can |
| 1558 | 02:14:16 --> 02:14:20 | do it. You just have to believe it too and stick to the processes that I'm |
| 1559 | 02:14:20 --> 02:14:27 | laying out in front of you. Just do that. Just simply do that. You have an |
| 1560 | 02:14:27 --> 02:14:31 | advantage that I'm going to be doing this Monday through Friday, unless |
| 1561 | 02:14:31 --> 02:14:34 | something is scheduled, that I will tell you in advance, or if it's an emergency, |
| 1562 | 02:14:34 --> 02:14:39 | something comes up, but I'm committing myself to my son understanding how to do |
| 1563 | 02:14:39 --> 02:14:47 | this, so you're seeing it as he's intended to receive it. Do I look like I |
| 1564 | 02:14:47 --> 02:14:50 | know what I'm doing? Does it look like I'm scared? Does it look like I am |
| 1565 | 02:14:50 --> 02:14:55 | confused about what Christ is going to do? Does it seem like this is too good |
| 1566 | 02:14:55 --> 02:14:58 | to be true, because it fucking should feel like that, and that's how you know |
| 1567 | 02:14:58 --> 02:15:02 | you're at the right place listening to the. Right person, because there ain't |
| 1568 | 02:15:02 --> 02:15:06 | nobody else out there that's going to tell you what this price is going to do |
| 1569 | 02:15:06 --> 02:15:10 | like me, and that is arrogance, and that is me telling you, because I fucking |
| 1570 | 02:15:10 --> 02:15:17 | earned it. Like it or not. That's the way it is. I saw a comment and I'm going |
| 1571 | 02:15:17 --> 02:15:23 | to close that guy says, like it or not. ICT has a PhD in technical analysis, and |
| 1572 | 02:15:23 --> 02:15:26 | the only thing I'm going to submit to that is a correction. I have a PhD in |
| 1573 | 02:15:26 --> 02:15:30 | technical science, because that's what I've turned this into. It's a fucking |
| 1574 | 02:15:30 --> 02:15:36 | science. We are the cult of winning, and everybody outside of it wants to be in |
| 1575 | 02:15:36 --> 02:15:40 | it, but it's too fucking afraid to drink, drink deep, jump in the plasma |
| 1576 | 02:15:40 --> 02:15:44 | pool, baby. There's enough room for all of you, because it ain't changing. Shit. |
| 1577 | 02:15:44 --> 02:15:49 | Is this going to be a bigger club of winners, and it can keep going and going |
| 1578 | 02:15:49 --> 02:15:53 | and going, and who knows who you're going to inspire? Who knows who you are |
| 1579 | 02:15:53 --> 02:15:57 | going to inspire? Because your success you found in this all the doubt and |
| 1580 | 02:15:57 --> 02:16:01 | trepidation you've had, I don't know if it works. We're going to find out. We're |
| 1581 | 02:16:01 --> 02:16:05 | going to find out if. ICT, yeah, you're founding out, aren't you? You want me to |
| 1582 | 02:16:05 --> 02:16:08 | dance the way you want me to dance, and I'm going to dance the way that I want |
| 1583 | 02:16:08 --> 02:16:14 | to dance. I have no problem being out here every single day. No problem |
| 1584 | 02:16:14 --> 02:16:18 | whatsoever. And it's still going to work. It's still going to pan out, it's |
| 1585 | 02:16:18 --> 02:16:23 | still going to happen. You think this is fun, like you start seeing the entries |
| 1586 | 02:16:23 --> 02:16:28 | and the profit targets getting hit, in the partials, in the pyramiding all that |
| 1587 | 02:16:28 --> 02:16:32 | stuff, you ain't gonna be able to fucking sleep. You're gonna be buzzing |
| 1588 | 02:16:32 --> 02:16:37 | on goofballs. You think I put you to sleep with my talking. You're not going |
| 1589 | 02:16:37 --> 02:16:41 | to be able to fucking sleep waiting for the next live stream. So with that, it's |
| 1590 | 02:16:41 --> 02:16:44 | happy birthday. ICT, give me a thumbs up if you enjoyed it. Learn something |
| 1591 | 02:16:44 --> 02:16:48 | today, and I'll talk to you tomorrow at eight o'clock Eastern Standard. |
| 1592 | 02:16:55 --> 02:16:56 | Waiting for me sake, I. |