ICT YT - 2024-08-12 - ICT 2024 Mentorship - Lecture 06
Last modified by Drunk Monkey on 2024-08-13 07:58
Quick Links
Outline
06:12 - Market analysis and trading strategies.
- ICT provides a live stream every day this week at 9:30 AM EST, with a casual tone and no personal assistant to help with wrangling the pups.
- High impact news drivers like PPI and CPI numbers are expected on Wednesday, with a good time to digest them before the opening bell at 9:30 AM EST.
- ICT analyzes the market, identifying highs and lows to inform trading decisions.
- ICT highlights a minor sell side liquidity pool at 7am, with potential for disruption from the London session.
12:05 - Market analysis and CPI/PPI data with little interest in directional moves.
- ICT suggests analyzing economic data with caution due to lack of news drivers.
- ICT deems directional market moves uninteresting, waits for intervention-induced price action instead.
15:45 - Trading without economic data, focusing on price action insights.
- Trader prefers trading without economic data for better price action insights.
18:07 - Trading strategies and market analysis.
- ICT emphasizes the importance of taking partial profits and being flexible in trading, even when there's big news coming up.
- ICT shares his strategy for managing emotions and avoiding losses in volatile markets, including taking partial profits and giving oneself flexibility.
- ICT looks for opportunities to trade based on liquidity and displacement.
- ICT wants to see price go below shaded areas and come back up for potential inversion.
24:06 - Trading strategies for Monday mornings with market volatility.
- ICT avoids trading on Mondays before important economic data releases.
- Market volatility expected due to upcoming economic data releases.
27:36 - New week opening gaps and their impact on market bias.
- ICT explains new week opening gaps and their impact on market bias.
- ICT discusses market inefficiencies and potential trading opportunities based on previous analysis.
31:11 - Technical analysis and trading strategies in the forex market.
- ICT emphasizes the importance of understanding market patterns and trading to the midpoint.
- ICT says he's done trading and advises short-position holders to take profits.
- ICT recaps an old, clean level that could potentially fill, but warns against trading to it.
- ICT outlines rules for identifying buy side liquidity, including waiting for relative equal highs after 7 pm.
- ICT anticipates traders will run to fair value gap, bump highs, and drop lower, based on past behavior.
37:46 - Trading strategies and risk management.
- ICT emphasizes the importance of understanding market manipulation and economic calendar events, such as Non Farm Payroll and FOMC, and how they can impact trading decisions.
- ICT shares his strategy for trading on days ahead of important reports, such as Monday, and how to use the concepts he's taught to identify potential trading opportunities.
40:32 - Trading strategies and mental discipline for market success.
- ICT shares his trading strategy with his son, emphasizing the importance of patience and logical reasoning.
- Caleb emphasizes the importance of developing discipline and mental capital in trading.
- He advises against obsessing over market outcomes and instead focuses on learning from experiences.
44:42 - Trading strategies using economic calendar events.
- ICT explains how taking partial profits can help traders avoid significant losses and maintain a positive mindset.
- ICT highlights the importance of reacting to market stimuli and hunting for opportunities when stopped out prematurely.
- ICT analyzes market inefficiencies to identify trading opportunities.
- ICT waits for market to be "jagged" on opposing side of inefficiencies for entry.
50:31 - Trading strategies and managing risk.
- ICT explains inefficiencies in the market and how to trade them.
- Trader shares trading strategies to create liquidity and attract attention.
54:06 - Using narrative and time elements to predict market movements.
- ICT warns of misinterpretation of fair value gaps and market inefficiencies.
- ICT warns of failure in own hands due to lack of understanding, but success with experience.
57:16 - Trading psychology and the importance of self-awareness.
- ICT emphasizes the importance of self-discovery in trading, citing the need for personal growth and development.
- ICT warns against relying on external factors for success, instead emphasizing the importance of internal factors like motivation and mindset.
- ICT uses the analogy of a casino to illustrate the importance of adapting to changing circumstances in trading, citing the need to constantly learn and evolve.
- The speaker discusses the importance of recognizing and addressing personal emotional and psychological factors that can impact trading performance.
- The speaker emphasizes the value of journaling and self-reflection in identifying and overcoming these factors.
- The speaker emphasizes the importance of having rules and protocols in place for trading, as it helps to avoid emotional responses and maintain control.
- The speaker notes that many traders struggle to accept responsibility for their mistakes and instead blame external factors, leading to a lack of progress in their trading.
01:05:20 - Trading strategies using market analysis and order blocks.
- ICT emphasizes consistency in trading approach, refusing to adjust schedule for London session.
- Trader anticipates 20-30% retracement of previous week's range on Monday based on TGIF not materializing on Friday.
01:08:56 - Technical analysis and trading strategies using candlestick patterns.
- Analyze morning session for potential run formation and directional bias.
- ICT explains how to identify bearish order blocks and trade with them.
- ICT demonstrates how to incorporate volume imbalances into gap measurements.
- ICT pushes away his laptop's touchpad while talking to someone, causing him to accidentally execute a trade.
- ICT dislikes seeing inefficiencies in his trades and prefers to see the algorithm executing as expected.
- ICT's dog, Piper, tries to get his attention while he's trading, causing distractions and making it difficult for him to focus.
01:16:48 - Trading strategies and identifying price inefficiencies.
- ICT emphasizes the importance of identifying and respecting price inefficiencies to make informed trading decisions.
- ICT explains his price delivery continuum theory and trading strategy.
01:20:07 - Identifying trading opportunities using candlestick patterns and stop-loss placement.
- ICT identifies gaps and inefficiencies in price action to place trades.
- ICT measures potential for market to reach new lows, then reverses.
01:23:56 - Trading psychology and sentiment analysis using live streamers' chat windows.
- The speaker emphasizes the importance of understanding market dynamics and having a plan to cope with losses.
- The speaker highlights the value of demo trading and building experience to become profitable in the industry.
- The speaker warns against blindly following live streamers and their trading decisions without proper understanding and independent thinking.
- The speaker emphasizes the importance of being an independent thinker and not relying solely on others for trading ideas.
- ICT uses other live streamers' chat windows to analyze sentiment and identify trading opportunities.
- ICT's son Caleb watches and learns from his father's trading strategies, including using ICT as a sentiment indicator.
01:32:04 - Trading strategies and time management.
- ICT emphasizes the importance of understanding market mechanics and trading rules, even when faced with unexpected events like a stop-out.
- Trader emphasizes importance of ICT time and waiting for relative highs and lows.
01:35:10 - Using ICT to identify potential price movements based on time of day and clustering of new day opening gaps.
- ICT discusses using time and date analysis to identify potential trading opportunities.
- ICT outlines potential for directional run and sell side delivery based on new week opening gap.
01:38:53 - Technical analysis and trading strategies using price action.
- ICT is looking for a bearish order block to form above old highs, waiting for price to pierce above relative equal highs.
- ICT emphasizes the importance of defining risk and using logic to enter trades, rather than relying on hindsight.
- Ict is looking at Piper's trading and identifying a bearish order block.
- Ict wants to use the low of a fair value gap as an entry point for a short trade.
- The speaker emphasizes the importance of understanding repeating patterns in price action to overcome fear and anxiety.
- The speaker teaches a live audience how to identify and trade these patterns, using examples from real-time market data.
01:45:52 - Trading using technical analysis and probability.
- Trader regrets not learning this trading technique earlier, valuing it now.
01:48:07 - Technical analysis and market manipulation.
- ICT argues that relying on indicators is pointless and instead, the market manipulates liquidity and runs in a predictable manner.
- The speaker observes a pattern in the market where price movements are influenced by live streamers' predictions.
- The speaker believes that having a baseline and measuring price movements can help break the cycle of emotional trading.
01:52:04 - Technical analysis and trading strategies in the financial markets.
- The speaker learned how to read the tape by watching the market's reaction to highs and lows, without realizing they were learning how the market works.
- The speaker didn't understand the importance of identifying Fairbank gaps, short-term lows, and the buy side of LLC efficiency until they gained experience and insight.
- The speaker shares their personal journey of growth through prayer and counseling, and how they arrived at an understanding of the market.
- The speaker provides their best insights and analysis to help others, despite not being obligated to do so.
- Ict shows how to read price movements by identifying fair value gaps, inversion fair value gaps, and order blocks.
- Ict demonstrates how to use up close candles to save off any advance higher and how to take profit from limit orders.
01:59:35 - Trading and market analysis with emphasis on technical analysis and risk management.
- ICT emphasizes the importance of understanding market direction for successful trading.
- ICT emphasizes the importance of learning how to trade instead of relying on algorithms or gurus.
- ICT encourages traders to take personal responsibility and not overtrade or overleverage.
02:03:22 - Trading strategies and frustration with students not understanding concepts.
- ICT explains that some of his students from 2016 are still not profitable, despite his efforts to help them.
- He acknowledges that he can't force students to change their behavior, but he can provide them with the tools to identify repeating patterns in price action.
- The speaker is frustrated with their inability to explain a concept clearly, despite knowing it could be done differently.
- The speaker encourages viewers to spend the least amount of time learning how to do something, rather than wasting time on unnecessary indicators and annotations.
02:08:14 - Trading and investing strategies using technical analysis.
- Father encourages son to trust trading process and have confidence in abilities.
- The speaker advises the listener to be humble and not act arrogant, even when successful, to avoid being seen as a celebrity.
- The speaker warns that focusing too much on others' opinions can lead to a personal reflection on oneself, causing self-doubt and anxiety.
- ICT discusses the importance of showing a losing trade to prove market concepts work (20 year old self loved seeing this)
- ICT plans to start session at 9:15 AM tomorrow with pre-market view, levels on charts, and no attempt to trade ahead of CPI or PPI numbers
02:15:19 - Identifying market trends using time and price analysis.
- ICT explains his approach to identifying market direction based on time and price patterns.
- ICT: Mastering trading protocols for real-money success.
02:18:37 - Learning technical analysis and understanding price movements.
- ICT emphasizes the importance of understanding market behavior and logic.
- The speaker promises to teach listeners how to read price movements like sheet music.
02:22:15 - Trading strategies and managing expectations.
- Develop patience and anticipation by watching price action without trading, focusing on fair value gaps.
- The speaker emphasizes the importance of understanding market dynamics and anticipating setups to make informed trading decisions.
- The speaker shares their approach to identifying potential short ideas and managing risk, citing the value of patience and a solid foundation in trading.
- The speaker enjoys converting adversarial viewers into followers by providing valuable insights and entertainment.
- The speaker's approach to trading involves managing expectations, leading people to create traffic and interest in their channel without advertising.
02:29:17 - Trading and personal development with a father's advice to his son.
- Caleb seeks mentorship, humility, and candor in his development.
- Father advises son on trading, emphasizing indifference and precision.
02:33:10 - Trading strategies for beginners.
- The speaker regrets tinkering with their trading strategy instead of focusing on managing their money.
- The speaker's children want to live like them, indicating financial freedom and flexibility.
- ICT emphasizes the importance of controlling fear and greed in trading.
- Students struggle to adopt this approach due to social media and live streaming.
- ICT encourages listeners to adopt a systematic approach to trading and to be patient with themselves.
Transcription
| 1 | 00:01:00 --> 00:01:15 | ICT: Well, good morning, folks, how are you? Just give me a minute here or two. |
| 2 | 00:01:19 --> 00:01:21 | Place you on mute for a Second. You |
| 3 | 00:06:11 --> 00:06:19 | How do you check one? How do you check one? Okay, so we should, we should be |
| 4 | 00:06:19 --> 00:06:26 | okay, okay, so we should, we should alright, good morning, folks. How are |
| 5 | 00:06:26 --> 00:06:34 | you? Hope everybody's doing? Well, sorry for the delay. My wife is not here to |
| 6 | 00:06:34 --> 00:06:42 | help me do the wrangling of the pups, so I was giving them a little bit of peanut |
| 7 | 00:06:42 --> 00:06:47 | butter to try to hold them off as I put them in their kennel. All right, so it's |
| 8 | 00:06:48 --> 00:06:53 | gonna be a casual one today. And just as a reminder, I will be here every day |
| 9 | 00:06:53 --> 00:07:01 | this week at 930 give me a little bit of time up to that point, I'm aiming |
| 10 | 00:07:01 --> 00:07:08 | between 915, 925, ish, in that ballpark. There's a couple things I'm juggling my |
| 11 | 00:07:08 --> 00:07:12 | personal life this this week that prevent me from doing a little bit |
| 12 | 00:07:12 --> 00:07:18 | earlier start time. But with that said, just know that we'll have a live stream |
| 13 | 00:07:18 --> 00:07:21 | just, I guess it, I guess the easiest way is just to, kind of like, head to |
| 14 | 00:07:21 --> 00:07:26 | the channel you're going to you you're gonna want to be here, hang out around |
| 15 | 00:07:26 --> 00:07:33 | 915 and you'll probably see the, I guess, the logo for my YouTube channel. |
| 16 | 00:07:33 --> 00:07:37 | It'll it'll turn red around the outside of it. If you click on that, it'll take |
| 17 | 00:07:37 --> 00:07:42 | you right to the live stream. I don't know how to notify you otherwise, so I |
| 18 | 00:07:42 --> 00:07:47 | just, I said, just anticipate between 915 and 925 you know today, which is |
| 19 | 00:07:47 --> 00:07:56 | Monday, August 12 through Friday. So tomorrow and on Wednesday, we have some |
| 20 | 00:07:56 --> 00:08:02 | high impact news drivers, the PPI CPI numbers, they're usually the ones that |
| 21 | 00:08:02 --> 00:08:05 | tear your face off, and it's real hard to predict what they're going to do. |
| 22 | 00:08:06 --> 00:08:12 | They're extremely manipulated. So just know that we'll be waiting for the |
| 23 | 00:08:12 --> 00:08:17 | market to kind of like digest that, and a good time to do that as a few minutes |
| 24 | 00:08:17 --> 00:08:23 | before the opening bell at 930 so I have a few things I want to cover while we're |
| 25 | 00:08:23 --> 00:08:30 | waiting for the market to be in. Around here, a little bit more the the YouTube |
| 26 | 00:08:30 --> 00:08:36 | channel for my son, Caleb, last time I checked it, was about 12,000 ish |
| 27 | 00:08:37 --> 00:08:40 | subscribers. Thank you for that. I'm sure there's probably gonna be a little |
| 28 | 00:08:40 --> 00:08:43 | bit more people following it without actually subscribing. So it is what it |
| 29 | 00:08:43 --> 00:08:50 | is, but he had to work this weekend, so that prevented us from having a session |
| 30 | 00:08:50 --> 00:08:55 | together where we could review so I'm deferring that one. And if it becomes |
| 31 | 00:08:55 --> 00:09:01 | impossible to do that, I will simply just do a video covering and revealing |
| 32 | 00:09:01 --> 00:09:05 | the week and how his chart should look. And then he'll have to watch it, and |
| 33 | 00:09:05 --> 00:09:10 | then we'll have to do a subsequent video where, you know, he can kind of like, |
| 34 | 00:09:10 --> 00:09:16 | add his, uh, his view on but we have seven o'clock this morning, delineating |
| 35 | 00:09:16 --> 00:09:20 | that here. This is kind of like what you should be doing, Caleb, and then we have |
| 36 | 00:09:20 --> 00:09:27 | the run here, creating the initial buy side liquidity and the low taking that |
| 37 | 00:09:27 --> 00:09:33 | out here. So we have a minor sell side liquidity pool resting right below here. |
| 38 | 00:09:34 --> 00:09:37 | And you can see how we're working the initial sell side liquidity, which is |
| 39 | 00:09:37 --> 00:09:41 | that low right there. Now, whenever I have a time where, if I'm looking at a |
| 40 | 00:09:41 --> 00:09:45 | specific element of for instance, like seven o'clock, say yes, you're opening |
| 41 | 00:09:45 --> 00:09:49 | time for your trading, as we were talking about last week. If you're going |
| 42 | 00:09:49 --> 00:09:53 | to be looking at the charts and start watching prices early, at seven o'clock |
| 43 | 00:09:53 --> 00:09:56 | in the morning, you're going to be met with something like this, where you'll |
| 44 | 00:09:56 --> 00:10:01 | have a high right here to the left of your start time. And then actually right |
| 45 | 00:10:01 --> 00:10:06 | at seven o'clock creates a high. Whenever it's like that, I'm going to |
| 46 | 00:10:06 --> 00:10:11 | wait for the initial run, because I know it's probably going to take this high |
| 47 | 00:10:11 --> 00:10:15 | up, and it's certainly probably going to, certainly probably hear that, |
| 48 | 00:10:16 --> 00:10:22 | certainly probably just coined something else. The short term highest grade rate |
| 49 | 00:10:22 --> 00:10:29 | at the seven o'clock candle. So that initial liquidity is an interest to me. |
| 50 | 00:10:30 --> 00:10:34 | So I want to watch and see, does it, in fact, trade above here? And if it does, |
| 51 | 00:10:34 --> 00:10:38 | I'll give it some allowance. Okay, the trade there. I'm not trying to annotate |
| 52 | 00:10:38 --> 00:10:43 | that high. I want to see the short term high here form and then start to trade |
| 53 | 00:10:43 --> 00:10:47 | lower. And if it takes out that low, then I'm highlighting that high and I'm |
| 54 | 00:10:47 --> 00:10:51 | highlighting that low. So now you can see we ran above this here. And if you |
| 55 | 00:10:51 --> 00:10:58 | look at look scrub over here to the left, a little bit more. Michael, so you |
| 56 | 00:10:58 --> 00:11:01 | have all these relative equal highs. The market did, in fact, make a run above |
| 57 | 00:11:01 --> 00:11:13 | that. So that disrupted all that price action over there, which leaves this |
| 58 | 00:11:13 --> 00:11:16 | low, which is a minor sell side liquidity. It's inside the range |
| 59 | 00:11:16 --> 00:11:20 | starting at 7am but it's also inside the range that was formed from the run from |
| 60 | 00:11:20 --> 00:11:27 | the London session, which is over here. Now, initially, when I'm looking at |
| 61 | 00:11:27 --> 00:11:35 | this, my eye gravitates to this low, and it also gravitates to these lows here, |
| 62 | 00:11:36 --> 00:11:40 | which is why I have, like I have this low in mine, this low and this low, |
| 63 | 00:11:40 --> 00:11:44 | which is why I have all this highlighted as a layered sell side liquidity pool. |
| 64 | 00:11:44 --> 00:11:48 | So it's there's a few of them in there that have my interest. This is relative |
| 65 | 00:11:48 --> 00:11:52 | equal to that, and it's also slightly higher than that. And then we have this |
| 66 | 00:11:52 --> 00:11:57 | low here, even though this one disrupted, that I have to at least |
| 67 | 00:11:57 --> 00:12:02 | consider that okay, the upside, where we had these relative equal highs, and we |
| 68 | 00:12:02 --> 00:12:06 | had this old high here, which was initial buy side. We've already ran that |
| 69 | 00:12:06 --> 00:12:12 | and started to sell off. So on the on the buy side of the market, it's been |
| 70 | 00:12:12 --> 00:12:19 | made jagged initially, but we have no news data ahead of CPI and PPI going |
| 71 | 00:12:19 --> 00:12:25 | into Tuesday and Wednesday's trading. So when we have that, it's, it's kind of a |
| 72 | 00:12:25 --> 00:12:31 | little bit more uncertain. I guess the right words would be. So you have to |
| 73 | 00:12:31 --> 00:12:39 | pick your pick your shots a little bit more carefully, and kind of like |
| 74 | 00:12:39 --> 00:12:44 | Amethyst and analysis, I got peanut butter on roof of my mouth too. I snuck |
| 75 | 00:12:44 --> 00:12:50 | a bike before I gave to them. You have to do your analysis a little bit more |
| 76 | 00:12:50 --> 00:12:55 | critical than if you had a high impact or news driver. That's medium impact |
| 77 | 00:12:55 --> 00:13:00 | during the morning session. And since we have nothing of that this morning, and |
| 78 | 00:13:00 --> 00:13:05 | then we have some really big heavy hitters for Tuesday and Wednesday. At |
| 79 | 00:13:05 --> 00:13:12 | 830 they're going to move around a lot, so a lot of interest is kind of deferred |
| 80 | 00:13:13 --> 00:13:17 | until after that report comes out on Tuesday, and after the report comes out |
| 81 | 00:13:17 --> 00:13:20 | on Wednesday. If you take a look at your economic calendar, you'll see what I'm |
| 82 | 00:13:20 --> 00:13:24 | talking about. It's the PPI and CPI numbers. I don't ever care to know what |
| 83 | 00:13:24 --> 00:13:28 | those numbers are actually stating. Because frankly, you know, like I |
| 84 | 00:13:28 --> 00:13:33 | mentioned many times before, it's of no interest to me. I'm not going to be |
| 85 | 00:13:33 --> 00:13:36 | astute enough to know what that data is going to tell me for a buy or sell. It's |
| 86 | 00:13:37 --> 00:13:40 | not giving me any kind of information that is actionable. So therefore I never |
| 87 | 00:13:40 --> 00:13:45 | considered worrying about what the the raw data is. I'm sure some of you in |
| 88 | 00:13:45 --> 00:13:51 | here listening that are very interested in the fundamental aspects of of the |
| 89 | 00:13:51 --> 00:13:57 | market. And if that suits you, then you know, well done. I just don't have an |
| 90 | 00:13:57 --> 00:14:02 | interest in that. So therefore I defer all of that to everyone that wants to |
| 91 | 00:14:02 --> 00:14:07 | consider it useful. I look at the time when the market is likely to give those |
| 92 | 00:14:07 --> 00:14:12 | types of runs, they go protracted, usually one directional, and then |
| 93 | 00:14:12 --> 00:14:17 | sometimes they'll change on an aggressive reversal and go the other |
| 94 | 00:14:17 --> 00:14:24 | direction. Most of the time it's just a one directional landslide, okay? Or just |
| 95 | 00:14:24 --> 00:14:28 | blows up and goes straight up, and it's really unless you're really positioned |
| 96 | 00:14:28 --> 00:14:32 | early on something in London or whatever, which I don't try to do that. |
| 97 | 00:14:33 --> 00:14:40 | And to prove my very low interest in trying to be in a directional move for |
| 98 | 00:14:40 --> 00:14:46 | CPR, ppi. I have on Twitter spaces in the past, mentioned what I thought was |
| 99 | 00:14:46 --> 00:14:52 | going to potentially pan out and and what direction it may aim for, and true |
| 100 | 00:14:52 --> 00:14:57 | to form, it's it's never accurate. So I shouldn't say never. I was, I think I |
| 101 | 00:14:57 --> 00:15:02 | was right twice last year with the CPI. I. In ppi, but otherwise, I'm usually |
| 102 | 00:15:02 --> 00:15:08 | wrong, so I don't need to do that for years and years and years just to, you |
| 103 | 00:15:08 --> 00:15:13 | know, belabor the point and say, Okay, well, this is not advantageous for me. |
| 104 | 00:15:13 --> 00:15:17 | So I, I sit on the sidelines and I wait, and I wait for more information to come |
| 105 | 00:15:17 --> 00:15:23 | after that market is moving because of the intervention, because I don't know |
| 106 | 00:15:23 --> 00:15:28 | where they're going to put the market right as that report comes out, and no |
| 107 | 00:15:28 --> 00:15:32 | one really does, to be honest with you, no one knows that. And even if someone |
| 108 | 00:15:32 --> 00:15:37 | had a inkling, I'm confident that if a position was placed large enough ahead |
| 109 | 00:15:37 --> 00:15:40 | of it, they would run it the other way, just for the sake of upsetting it. So |
| 110 | 00:15:40 --> 00:15:46 | that's the conspiratorial mindset of my of like of Michael, right? So I'm not |
| 111 | 00:15:46 --> 00:15:50 | interested in worrying about all those types of things. When we look at the |
| 112 | 00:15:50 --> 00:16:00 | market, it's it's probably better for you to trade when it's not having a day |
| 113 | 00:16:00 --> 00:16:11 | like this, where there's no there's no real data to concern ourselves with and |
| 114 | 00:16:11 --> 00:16:13 | trading the afternoon. But |
| 115 | 00:16:14 --> 00:16:18 | if there's things that are in the marketplace that are more conducive for |
| 116 | 00:16:18 --> 00:16:24 | taking trade setups, looking for price runs that move to a logical price level |
| 117 | 00:16:24 --> 00:16:31 | where it's it's really telling it gives you insight that, I guess goes against |
| 118 | 00:16:31 --> 00:16:36 | the grain of retail stuff like supposed diagonal support and resistance, or |
| 119 | 00:16:36 --> 00:16:42 | indicator crossovers or oversold that type of thing. If I have those types of |
| 120 | 00:16:42 --> 00:16:47 | advantages in price action, and they're they're hinting to the likelihood of |
| 121 | 00:16:48 --> 00:16:51 | that arm wrestling match I talked about last week, where we have smart money |
| 122 | 00:16:51 --> 00:16:56 | concepts, time and price and liquidity and inefficiencies, if that's arm |
| 123 | 00:16:56 --> 00:17:02 | wrestling, if it's arm wrestling, the central tenants that go along with |
| 124 | 00:17:02 --> 00:17:12 | retail trading concepts and things that lead to, in my opinion, guessing, I |
| 125 | 00:17:12 --> 00:17:17 | guess it's more appropriate for me. I'm not saying it should be appropriate for |
| 126 | 00:17:17 --> 00:17:22 | you, but if you have a an affinity for just trying to trade every morning |
| 127 | 00:17:22 --> 00:17:26 | session, because that's your operating hours. You know, if you have those types |
| 128 | 00:17:26 --> 00:17:31 | of things in play and you can identify them, you don't really need economic |
| 129 | 00:17:31 --> 00:17:38 | calendar to, I guess, push, push a narrative or push a sentiment. You can |
| 130 | 00:17:38 --> 00:17:41 | just trade the just the price action itself. You don't need a whole lot that |
| 131 | 00:17:41 --> 00:17:48 | you need to go on, but it's in it's in my interest, as an educator to kind of |
| 132 | 00:17:48 --> 00:17:54 | like promote the idea that an economic calendar behind you, moving with the |
| 133 | 00:17:54 --> 00:17:58 | ideas that you're looking for. Technically, that, my opinion is better. |
| 134 | 00:17:59 --> 00:18:03 | So when you have a morning without economic data, it becomes a whole lot |
| 135 | 00:18:03 --> 00:18:07 | more problematic in terms of seeing sustained price runs. You have to know |
| 136 | 00:18:07 --> 00:18:11 | what you're looking for, where you're looking to take profits partials move |
| 137 | 00:18:11 --> 00:18:19 | quickly to protect your position, not try to look for home runs. Give yourself |
| 138 | 00:18:19 --> 00:18:24 | flexibility, knowing that you potentially may get it wrong because you |
| 139 | 00:18:24 --> 00:18:28 | have big news on the following day and day after. In this case, we have that |
| 140 | 00:18:28 --> 00:18:33 | with ppi and CPI. So it's important to pay yourself if you get the opportunity |
| 141 | 00:18:33 --> 00:18:38 | to do so, give yourself the opportunity to see if it can run. But don't punish |
| 142 | 00:18:38 --> 00:18:44 | yourself if it doesn't. Case in point, right here, partials always pay. You |
| 143 | 00:18:44 --> 00:18:48 | never have to worry about being right or wrong. Once you take your first partial, |
| 144 | 00:18:48 --> 00:18:53 | it completely removes all of that necessity about being right or wrong. So |
| 145 | 00:18:53 --> 00:18:57 | let me cancel this order, because it should have given it to me, in my |
| 146 | 00:18:57 --> 00:19:03 | opinion, should have went down there, but it didn't so because it came back, I |
| 147 | 00:19:03 --> 00:19:08 | have to sit and relax and give some more time to the marketplace. We have the |
| 148 | 00:19:08 --> 00:19:11 | opening rain still here. I think we'll still come down in here, even though it |
| 149 | 00:19:11 --> 00:19:17 | took me out before it actually did it. But this would have been a a transaction |
| 150 | 00:19:17 --> 00:19:25 | that would not take away from the equity it added to when we have opportunities |
| 151 | 00:19:25 --> 00:19:30 | to see the price action move in our favor. And we don't take partials if we |
| 152 | 00:19:30 --> 00:19:37 | do not take a a piece of the pie, if you will, or a bite or a pound of flesh |
| 153 | 00:19:38 --> 00:19:42 | before it gets to our major objective, or our terminus, our main target. If |
| 154 | 00:19:42 --> 00:19:46 | that's not the case for your trading right now, you need to start adopting |
| 155 | 00:19:46 --> 00:19:49 | that because especially with the volatility that's in the markets today. |
| 156 | 00:19:49 --> 00:19:54 | You're not saying specifically today, but you know in recent months, in years, |
| 157 | 00:19:54 --> 00:20:00 | that volatility is going to give you a whole lot more adversity. You. The |
| 158 | 00:20:00 --> 00:20:05 | markets had come back multiple times into the general vicinity where you |
| 159 | 00:20:05 --> 00:20:09 | entered the trade at. And when you have the potential for the market to pull |
| 160 | 00:20:09 --> 00:20:14 | that deeply back into your trade, if you don't know what you're looking for, if |
| 161 | 00:20:14 --> 00:20:18 | you're if you're afraid to get back in or you just lose the plot and you have |
| 162 | 00:20:18 --> 00:20:24 | no idea what it's doing, it's better just to take that victory, whatever that |
| 163 | 00:20:24 --> 00:20:29 | was. In this case, you see a limit order was filled. You see the stop loss was |
| 164 | 00:20:29 --> 00:20:34 | brought down to protect the underlying position, and it came back just to take |
| 165 | 00:20:34 --> 00:20:38 | it. And now we're back inside the range created from that run here to that short |
| 166 | 00:20:38 --> 00:20:42 | term high, and we have yet still to take out. Let me take these little |
| 167 | 00:20:42 --> 00:20:48 | identifiers off for a second so you can see just fell short of running into |
| 168 | 00:20:48 --> 00:20:56 | that. Okay. Now these are the the little Gremlins, okay, the little Gremlins that |
| 169 | 00:20:56 --> 00:21:01 | creep in to your trading. And you can get emotional about it. You can get mad |
| 170 | 00:21:01 --> 00:21:05 | about it. You can punch the air and say, It's so and so's fault. It's somebody |
| 171 | 00:21:05 --> 00:21:11 | else's fault. Or you can say, You know what, I was part of a move. I looked for |
| 172 | 00:21:11 --> 00:21:17 | certain signatures to pan out. It gave me the opportunity and displacement, and |
| 173 | 00:21:17 --> 00:21:22 | it ran to obvious levels of liquidity. It took out this short term low I wasn't |
| 174 | 00:21:22 --> 00:21:26 | interested in having any limit orders below that. This one here, I like that. |
| 175 | 00:21:26 --> 00:21:31 | And I have this one shaded orange here, okay. And what that means is, I want to |
| 176 | 00:21:31 --> 00:21:36 | see it, get below it, it, each one, each one of these candles, hasn't really |
| 177 | 00:21:36 --> 00:21:45 | given me a kind of like a trade below it. Spend some time below it and then |
| 178 | 00:21:45 --> 00:21:49 | come back up and tap into it as a potential inversion fair value gap. If |
| 179 | 00:21:49 --> 00:21:53 | you ever looking at my charts, if I'm sharing shaded areas on price, if it's |
| 180 | 00:21:53 --> 00:22:01 | shaded orange, like this to me, okay, my interest is some some facet of seeing |
| 181 | 00:22:01 --> 00:22:07 | price go below it and come back up and then treat it as a means of barrier that |
| 182 | 00:22:07 --> 00:22:11 | it doesn't want to get back above it. If I start watching candlesticks promote |
| 183 | 00:22:11 --> 00:22:16 | that idea, and then I see a displacement, I might invite the |
| 184 | 00:22:16 --> 00:22:21 | opportunity for them to put me into a short with a fair value gap, a |
| 185 | 00:22:21 --> 00:22:27 | institutional order flow entry drill, I don't know, maybe a bearish order block, |
| 186 | 00:22:27 --> 00:22:32 | something, something to that effect, but it hasn't given me enough information |
| 187 | 00:22:32 --> 00:22:36 | here to justify that yet. So I'm watching to see if they just take out |
| 188 | 00:22:36 --> 00:22:40 | this short term high, and then what they do after that, it was to take like this |
| 189 | 00:22:40 --> 00:22:46 | high out, or maybe come back up and even touch in this again, if it can get back |
| 190 | 00:22:46 --> 00:22:52 | below this one here, then I may entertain the idea of maybe trading that |
| 191 | 00:22:52 --> 00:23:00 | down below here. I do really like the idea that they've kept this low and this |
| 192 | 00:23:00 --> 00:23:05 | low in the kind of like in the rule book, if you will, that now we have |
| 193 | 00:23:05 --> 00:23:11 | relative equal lows there, and this one here has a lot of liquidity in it, |
| 194 | 00:23:11 --> 00:23:16 | because we have it's, it's 5am it's during the close of the London session. |
| 195 | 00:23:17 --> 00:23:21 | So we see the market wanting to reach down into that, but then stop short of |
| 196 | 00:23:21 --> 00:23:32 | it, okay, and I'm quite certain that Phil, P, H, I, L, yeah. Said No, not |
| 197 | 00:23:32 --> 00:23:36 | today, because I C T's got a limit order down here. And then came back with a |
| 198 | 00:23:36 --> 00:23:48 | stop. But who's Phil? I them. So I'm interested in seeing, does it now want |
| 199 | 00:23:48 --> 00:23:53 | to go down below this area here, come back up and then does it displace it? |
| 200 | 00:23:53 --> 00:23:56 | May it could do it, and it could do it so quickly and violently that it doesn't |
| 201 | 00:23:56 --> 00:24:01 | really give me a chance to get in it. But I want, I want to talk about the |
| 202 | 00:24:01 --> 00:24:04 | importance of knowing when these high impact news drivers on the economic |
| 203 | 00:24:04 --> 00:24:08 | calendar like we have a Monday Okay? Generally, I'm not a real big fan of |
| 204 | 00:24:08 --> 00:24:13 | Mondays. I like to see other traders go out there, put their neck on the block, |
| 205 | 00:24:13 --> 00:24:20 | and then see what the general consensus and sentiment is on a given week where |
| 206 | 00:24:20 --> 00:24:26 | we don't have Non Farm Payroll. Okay, so if we have Non Farm Payroll, I'm |
| 207 | 00:24:26 --> 00:24:29 | interested in trading on Mondays. Every single Monday that has Non Farm Payroll, |
| 208 | 00:24:29 --> 00:24:35 | Friday, I'm trading and engaging on Mondays trading. I'm absolutely looking |
| 209 | 00:24:35 --> 00:24:40 | for moves to do you know, something that gets me into a trade. Generally, I'm not |
| 210 | 00:24:40 --> 00:24:47 | interested in Mondays otherwise, and because of that, I'm trying to counsel |
| 211 | 00:24:47 --> 00:24:52 | my son and his brothers. If they watch these videos too, I'm hoping it will |
| 212 | 00:24:52 --> 00:24:59 | inspire them to do it as well, but they shouldn't be trying to trade on a |
| 213 | 00:24:59 --> 00:25:03 | Monday. It's. In the morning session, ahead of ppi and CPI numbers like like |
| 214 | 00:25:03 --> 00:25:12 | we have here. So if there's ever a real big, huge neon sign that says, don't |
| 215 | 00:25:12 --> 00:25:15 | really try to trade on this. Because I know a lot of my students will say, and |
| 216 | 00:25:15 --> 00:25:19 | a lot of people that don't like me or they try to troll me for for clicks and |
| 217 | 00:25:19 --> 00:25:23 | views and ad revenue or attention, they'll say, ICT never trades and or he |
| 218 | 00:25:23 --> 00:25:26 | says, never trade on Monday. And then they'll show their after the fact trade, |
| 219 | 00:25:27 --> 00:25:30 | and they'll say, This is what I did. And that's great, you know, well, two dose, |
| 220 | 00:25:30 --> 00:25:35 | but there's a lot of things I don't personally want to do as a trader, and |
| 221 | 00:25:35 --> 00:25:40 | other people do and they make money. I'm not arguing that, but what I'm saying |
| 222 | 00:25:40 --> 00:25:45 | is, because you're here watching my content, the interest is you're wanting |
| 223 | 00:25:45 --> 00:25:50 | to know my opinion, or what I'm thinking, or what makes me tick about an |
| 224 | 00:25:50 --> 00:25:53 | idea about a market going higher or lower, and what do I look for in terms |
| 225 | 00:25:53 --> 00:25:59 | of a trade? Idea what I look for for a setup, okay? Or when do I try to avoid |
| 226 | 00:25:59 --> 00:26:00 | taking those traits, |
| 227 | 00:26:02 --> 00:26:08 | it's important for my son to know it's problematic on days like this, because, |
| 228 | 00:26:08 --> 00:26:11 | number one, it's the morning session. Everybody's chomping at the bit to do |
| 229 | 00:26:11 --> 00:26:19 | something, and large pools of liquidity, big, big players in the marketplace are |
| 230 | 00:26:19 --> 00:26:23 | not going to position this morning, because they know what's waiting on |
| 231 | 00:26:23 --> 00:26:28 | Tuesday and Wednesday. So because of that, just know that you're going to see |
| 232 | 00:26:28 --> 00:26:32 | a lot of this type of action where it's up, down, it's real skittish, meaning |
| 233 | 00:26:32 --> 00:26:36 | that it goes up, it goes back down, it goes back up, it goes back down. And it |
| 234 | 00:26:36 --> 00:26:42 | becomes very, very sloppy, real quick. And it becomes almost seek and destroy |
| 235 | 00:26:42 --> 00:26:45 | like now what is seek and destroy. Seek and Destroy is where the market will go |
| 236 | 00:26:45 --> 00:26:50 | just above a short term high, just to go back lower, to take out a old short term |
| 237 | 00:26:50 --> 00:26:53 | low, then come back up, take out that short term high that was just formed, |
| 238 | 00:26:53 --> 00:26:56 | and then vice versa, go back and forth, back and forth. And it kind of runs you |
| 239 | 00:26:56 --> 00:27:00 | over, even if you're in a position, as you saw here, the opening the stream, |
| 240 | 00:27:01 --> 00:27:05 | even though I can be right in the direction and I can see where it wants |
| 241 | 00:27:05 --> 00:27:10 | to potentially go, la here we are, it can still come back and take me out. |
| 242 | 00:27:10 --> 00:27:15 | Now, if it wasn't a Monday with a ppi and CPI numbers coming out on Tuesday |
| 243 | 00:27:15 --> 00:27:20 | and Wednesday, I would go back in in short up here, but because it's not |
| 244 | 00:27:21 --> 00:27:26 | conducive for that, because we have huge news coming out Tuesday and Wednesday. I |
| 245 | 00:27:26 --> 00:27:30 | know that the probabilities are likely. Didn't think I saw that coming. Did you |
| 246 | 00:27:30 --> 00:27:37 | feel the high being bumped there and then trading lower? Here is the new week |
| 247 | 00:27:37 --> 00:27:43 | opening gap high. So the bias, as I was teaching last week. Here's your new week |
| 248 | 00:27:43 --> 00:27:48 | opening gap for this week, we had price above it. It rallied up. It took |
| 249 | 00:27:48 --> 00:27:54 | liquidity, and where's the draw going to be? Where's that like black hole of of |
| 250 | 00:27:54 --> 00:27:59 | just constant tension and pressure to pull price? Caleb, it's the new week |
| 251 | 00:27:59 --> 00:28:04 | opening gaps. Okay, so if we have that, and we have |
| 252 | 00:28:10 --> 00:28:18 | an old New Day opening gap here, we'll have a new one tonight, when 5pm comes, |
| 253 | 00:28:18 --> 00:28:24 | and then we have the opening at 6pm we'll create another new day opening |
| 254 | 00:28:24 --> 00:28:28 | gap, but right now we have to work with new week opening gap and old. Remember, |
| 255 | 00:28:28 --> 00:28:32 | I told you last week that the new day opening gaps have a shelf life, or life |
| 256 | 00:28:32 --> 00:28:37 | cycle, not that it's limited to five days, but if you work with them in that |
| 257 | 00:28:37 --> 00:28:41 | perspective, you'll see how the market uses this idea where it gravitates back |
| 258 | 00:28:41 --> 00:28:46 | and forth towards towards these levels. They're inefficiencies that will be used |
| 259 | 00:28:46 --> 00:28:52 | again, like a magnet will draw price to it. So when we're looking at bias, these |
| 260 | 00:28:52 --> 00:28:56 | are going to be your first central tenants to trying to derive what that |
| 261 | 00:28:56 --> 00:29:02 | bias is. So if we know that the new week opening gap is, is here for this past |
| 262 | 00:29:02 --> 00:29:07 | Sunday or yesterday evening, 6pm in relationship to, I guess if I scroll |
| 263 | 00:29:07 --> 00:29:15 | over here, you'll see, well, we'll come back to it in a second. The it's less |
| 264 | 00:29:15 --> 00:29:18 | than 20 handles. So therefore I'm not really interested in imitating the |
| 265 | 00:29:18 --> 00:29:21 | quadrants inside of it. You can eyeball it is about halfway here in Upper |
| 266 | 00:29:21 --> 00:29:25 | quadrants here in lower quadrants there. And if it gets trade, if it can trade |
| 267 | 00:29:25 --> 00:29:32 | through that. And then we go back into New Day opening gap of the ninth. Okay, |
| 268 | 00:29:32 --> 00:29:35 | so that's Friday's New Day opening gap that would have been formed and |
| 269 | 00:29:35 --> 00:29:41 | calibrated from Thursday evening New York local time. It's Thursday's 5pm |
| 270 | 00:29:41 --> 00:29:47 | closing price and settlement, and then 6pm one hour later, new session opening. |
| 271 | 00:29:48 --> 00:29:51 | So between those two price points, you get it here and again, it's not |
| 272 | 00:29:51 --> 00:29:54 | annotating the quadrants or midpoint because it's less than 20 handles, okay. |
| 273 | 00:29:54 --> 00:30:00 | So if we have a previous New Day opening, Guy below price, and we. Have |
| 274 | 00:30:00 --> 00:30:05 | new week opening gap here, and the market was made jagged here, and we have |
| 275 | 00:30:05 --> 00:30:09 | inefficiencies that we're respecting it, the market's going to do what at the |
| 276 | 00:30:09 --> 00:30:14 | opening bell? It's going to gravitate in the direction of these old |
| 277 | 00:30:14 --> 00:30:18 | inefficiencies, because the market is algorithmic, so it has to refer back to |
| 278 | 00:30:18 --> 00:30:21 | those same things I was teaching last week, so that way we're not sitting here |
| 279 | 00:30:21 --> 00:30:25 | staring at bookmap charts, okay, or things like that, talking about |
| 280 | 00:30:25 --> 00:30:30 | nonsense, and the whole time the market's moving and not having had a |
| 281 | 00:30:30 --> 00:30:36 | trade, or even knowing the bias, there you go. So you want to screenshot that. |
| 282 | 00:30:36 --> 00:30:39 | Okay? You want to screenshot it again and put it on your calendar. The ICT was |
| 283 | 00:30:39 --> 00:30:43 | talking about this stuff last week and talked about it live, coming back up and |
| 284 | 00:30:43 --> 00:30:48 | just bumping this high here and then ripping it down. Here's your open |
| 285 | 00:30:48 --> 00:30:52 | trades. Back up. Touch this touches the bottom of the inversion fair value got. |
| 286 | 00:30:52 --> 00:30:57 | That's a trade, not on a date that's ahead of PPI CPI, and the market rips |
| 287 | 00:30:57 --> 00:31:04 | lower, eats right on through all of the layered liquidity here, upper quadrant, |
| 288 | 00:31:04 --> 00:31:09 | level trades lower. And look at the bodies, how the bodies are stocking, |
| 289 | 00:31:09 --> 00:31:15 | right new week, opening gap. See that beautiful. So it's probably random. All |
| 290 | 00:31:15 --> 00:31:21 | this stuff probably is working off of, you know, some classic Steve Nielsen |
| 291 | 00:31:21 --> 00:31:22 | chart pattern. |
| 292 | 00:31:27 --> 00:31:33 | I can't help it. I have to do it. It's my burden. I have to carry it. So the |
| 293 | 00:31:35 --> 00:31:41 | the idea of looking at bias, I gave you those elements last week, okay, and |
| 294 | 00:31:41 --> 00:31:46 | using them, fortifying that as part of your repertoire and your regimen, your |
| 295 | 00:31:47 --> 00:31:52 | guidance that I gave you last week. As you can see, all those rules are still |
| 296 | 00:31:52 --> 00:31:58 | here. They're still here, and we're trading down into the previous Friday or |
| 297 | 00:31:58 --> 00:32:10 | week of New Day opening up. Okay, so I know some of you. I know some of you may |
| 298 | 00:32:10 --> 00:32:15 | look at these, these ideas, and think this is pretty complicated. It's very |
| 299 | 00:32:15 --> 00:32:20 | hard for me to get a feel for what he's doing and that that's normal, because |
| 300 | 00:32:21 --> 00:32:24 | you're getting exposed to it for the first time, and because you have tick |
| 301 | 00:32:24 --> 00:32:29 | tock mentality. You think it should be understood in 30 seconds, you know? And |
| 302 | 00:32:29 --> 00:32:33 | it's not going to be like that. You first of all, you have your brain |
| 303 | 00:32:34 --> 00:32:39 | clogged up with with nonsense and things that other people sold you in books and |
| 304 | 00:32:39 --> 00:32:43 | courses and lied to you and said, This is what the market does, and this is how |
| 305 | 00:32:43 --> 00:32:47 | it works, and smart money concepts are nonsense, and there's no algorithm. But |
| 306 | 00:32:47 --> 00:32:50 | here again, I told you. I told you last week, we're going to sit here and you're |
| 307 | 00:32:50 --> 00:32:58 | going to see this stuff working again. Here it is, okay, but trading to the |
| 308 | 00:32:58 --> 00:33:03 | midpoint, okay? Or consequent encouragement that ends my interest in |
| 309 | 00:33:03 --> 00:33:07 | the morning session. It could come back up into this and then rotate one more |
| 310 | 00:33:07 --> 00:33:11 | time, just to take that low out and trade the consequent encouragement and |
| 311 | 00:33:11 --> 00:33:13 | that would complete my day, or my morning session, or the interest |
| 312 | 00:33:13 --> 00:33:18 | thereof. I would not be interested in trying to buy it. I would not be trying |
| 313 | 00:33:18 --> 00:33:23 | to go long. I would not be trying to go into a short that that hopefully moves |
| 314 | 00:33:23 --> 00:33:28 | 200 handles or plus, that would completely be against my expectations. |
| 315 | 00:33:28 --> 00:33:33 | And why would I have that opinion about not doing much more, or having an |
| 316 | 00:33:33 --> 00:33:38 | interest greater than than I've outlined here, which would be consequence number |
| 317 | 00:33:38 --> 00:33:45 | one, it's already moved one sided. It's had a really nice displacement. Lower |
| 318 | 00:33:45 --> 00:33:49 | just, really, just tore off. Went a lot lower than most of you probably were |
| 319 | 00:33:49 --> 00:33:53 | expecting. But it went right to the levels I was showing you here in the |
| 320 | 00:33:53 --> 00:33:57 | live stream. It was, it was, it was going to draw to these levels, because |
| 321 | 00:33:57 --> 00:34:04 | we've made a run higher during London, we rallied up, bumped a previous high, |
| 322 | 00:34:06 --> 00:34:10 | and then we had the market create jaggedness, as I was talking about, |
| 323 | 00:34:10 --> 00:34:15 | okay, so there you go. It completely went down to the low. So I'm I'm done. I |
| 324 | 00:34:15 --> 00:34:18 | would move into sidelines, and everybody that's been following along and went |
| 325 | 00:34:18 --> 00:34:23 | short, take your profits and be content. Okay, I don't care if it goes lower. |
| 326 | 00:34:23 --> 00:34:28 | Just take your profits and move design. I know, I know you guys are following |
| 327 | 00:34:28 --> 00:34:30 | this, and you're thinking, he's got these levels on there, and I know it's |
| 328 | 00:34:30 --> 00:34:34 | going to fill so I'm going to use my own methodology, and I'm going to trade to |
| 329 | 00:34:34 --> 00:34:38 | his levels. I don't want to hear about it. I don't want to hear about it. |
| 330 | 00:34:38 --> 00:34:41 | Please don't. Don't give me high fives in the comments. Actually, even I'm the |
| 331 | 00:34:41 --> 00:34:45 | only one that can see that don't do that, because every single time I see a |
| 332 | 00:34:45 --> 00:34:48 | wave of people doing that, and they're like, thank you so much. I took a trade |
| 333 | 00:34:48 --> 00:34:53 | on this, and I used your love. Don't do that, because that means I'm going to be |
| 334 | 00:34:53 --> 00:34:56 | worrying about you, and I don't want to worry about none of you, okay, but let's |
| 335 | 00:34:56 --> 00:35:02 | take a quick look, real quick, and. Recap what was going on. We have an old, |
| 336 | 00:35:04 --> 00:35:09 | clean level over here, which very well could, don't. Could go up there and bump |
| 337 | 00:35:09 --> 00:35:13 | that, but we have to use the rules, as I outlined last week, where you start |
| 338 | 00:35:13 --> 00:35:18 | looking at seven o'clock and you're going to wait for relative equal highs. |
| 339 | 00:35:19 --> 00:35:24 | Okay, relative equal highs, boom, boom. What's this high in relationship to that |
| 340 | 00:35:24 --> 00:35:29 | one? Is it higher to the high to the left of it, or lower? It's lower. So |
| 341 | 00:35:29 --> 00:35:35 | doesn't that mean that that meets the criteria, doesn't it? Yes? So when you |
| 342 | 00:35:35 --> 00:35:39 | have this or the candle at seven o'clock, you know, it just starts to |
| 343 | 00:35:39 --> 00:35:43 | drop down from there. I'm not interested to ever classifying that as the initial |
| 344 | 00:35:44 --> 00:35:49 | point of buy side liquidity. I'm not interested in that. I'll wait and defer |
| 345 | 00:35:49 --> 00:35:53 | my actions on annotating and labeling, because I know just to the left of that |
| 346 | 00:35:53 --> 00:35:59 | it's it's here too. So I want to see it form literal relative equal highs. So in |
| 347 | 00:35:59 --> 00:36:02 | case you missed it, or I didn't give you a good enough explanation what I meant |
| 348 | 00:36:02 --> 00:36:06 | earlier, when we first started talking, it's in the rules I told you last week. |
| 349 | 00:36:06 --> 00:36:09 | So it's not like I'm ad living here. It's what I said last week in the |
| 350 | 00:36:09 --> 00:36:14 | lectures. So you're going to wait. So if you're if your starting point is not |
| 351 | 00:36:14 --> 00:36:18 | seven o'clock, okay, say it's not seven o'clock, and you start at eight o'clock, |
| 352 | 00:36:22 --> 00:36:28 | right there. Okay, the same thing you're going to refer to any relative equal |
| 353 | 00:36:28 --> 00:36:32 | highs that have not been pierced or breached, that formed after seven |
| 354 | 00:36:32 --> 00:36:38 | o'clock, but sometimes they will already have taken them out. And then you'll |
| 355 | 00:36:38 --> 00:36:42 | have to sit and wait and wait for your own relative equal highs or relative |
| 356 | 00:36:42 --> 00:36:48 | equal lows to form post eight o'clock. If you're going to use the nine o'clock |
| 357 | 00:36:48 --> 00:36:53 | hour, you have several other factors that you can use. Okay, the opening |
| 358 | 00:36:53 --> 00:36:58 | range, as I was showing Caleb last Friday. You all as students, are |
| 359 | 00:36:58 --> 00:37:02 | familiar with this, because I've shown this before, using the regular trading |
| 360 | 00:37:02 --> 00:37:06 | hours. So if we were looking at it this way, |
| 361 | 00:37:14 --> 00:37:18 | are you mad? ICT, they stopped you out before it dropped? No, because I know |
| 362 | 00:37:18 --> 00:37:23 | this is going to work again. It doesn't just work on one day. Okay, it works |
| 363 | 00:37:23 --> 00:37:30 | every day and every week, and it won't stop. So if we have what's nice is, I'll |
| 364 | 00:37:30 --> 00:37:33 | explain to you that they would probably run it to this fair value gap, maybe |
| 365 | 00:37:33 --> 00:37:39 | bump and clear the highs and then drop it lower, so I can anticipate, and this |
| 366 | 00:37:39 --> 00:37:41 | is what experience, and this is also a little bit understanding the source |
| 367 | 00:37:41 --> 00:37:50 | code, what they'll do if I'm going to be wrong. How will I be wrong? Now, for |
| 368 | 00:37:50 --> 00:37:53 | someone that may hear that and think, Wait a minute, if you know you're going |
| 369 | 00:37:53 --> 00:37:58 | to be wrong or you're potentially going to be wrong, like that's not bragging |
| 370 | 00:37:58 --> 00:38:01 | rights, you know, if you know you're going to be wrong, why'd you take the |
| 371 | 00:38:01 --> 00:38:05 | trade? Well, there's gonna be times where you get into a trade, and when you |
| 372 | 00:38:05 --> 00:38:09 | take that trade, it seems appropriate, and then the things that you were |
| 373 | 00:38:09 --> 00:38:13 | looking for start fizzling out, and they are no no longer supporting your trade. |
| 374 | 00:38:14 --> 00:38:18 | So it becomes a much more likelihood that you're not going to get the |
| 375 | 00:38:18 --> 00:38:23 | objective you're you're seeking. And if it's something that you anticipate |
| 376 | 00:38:23 --> 00:38:27 | potentially closing the trade on you prematurely, wouldn't you want to move |
| 377 | 00:38:27 --> 00:38:31 | your stop loss in an advantageous location, so that way, if it was the |
| 378 | 00:38:31 --> 00:38:38 | reverse on you, you still go home with something, not a loss. That's that's the |
| 379 | 00:38:38 --> 00:38:43 | parts that comes from learning from me talking when I'm talking about specific |
| 380 | 00:38:43 --> 00:38:47 | things, if you don't have a frame of reference to refer to, the logic as to, |
| 381 | 00:38:48 --> 00:38:53 | why is the trade still viable? Why should I hold the trade? What prevents |
| 382 | 00:38:53 --> 00:38:57 | me from getting back into the trade if I get stopped out? There has to be rules |
| 383 | 00:38:57 --> 00:39:03 | for that, okay? And if you don't start to build on them in the early stages of |
| 384 | 00:39:03 --> 00:39:07 | your development, you won't have anything to lean on except for your |
| 385 | 00:39:07 --> 00:39:12 | buying and being profitable, or you're selling and being profitable and all the |
| 386 | 00:39:12 --> 00:39:16 | losses in between, and nothing except for the emotional response to that |
| 387 | 00:39:16 --> 00:39:22 | versus these are the conditions this is More more appropriate for the chart to |
| 388 | 00:39:22 --> 00:39:25 | say this to me again later on, and I'm going to take that as a setup to get |
| 389 | 00:39:25 --> 00:39:30 | back into a trade idea that may still be viable, but if you are referring to the |
| 390 | 00:39:30 --> 00:39:35 | economic calendar, and you and understand the effects of manipulation |
| 391 | 00:39:35 --> 00:39:40 | that comes by way of ppi, CPI numbers, much like a Non Farm Payroll day and or |
| 392 | 00:39:40 --> 00:39:45 | FOMC, where it's highly influenced by direct manual intervention. I mean, |
| 393 | 00:39:45 --> 00:39:50 | you're not going to be able to be a part of the move most of the time, because |
| 394 | 00:39:50 --> 00:39:56 | they're just going to steamroll over everything. But on a day ahead of those |
| 395 | 00:39:56 --> 00:40:01 | reports, and if it happens to be a Monday, you. You give yourself one |
| 396 | 00:40:01 --> 00:40:06 | chance if you can get into a trade early on. Wonderful. Using the things I taught |
| 397 | 00:40:06 --> 00:40:12 | last week and what I'm showing you here, it's not random that the market's going |
| 398 | 00:40:12 --> 00:40:16 | to respect these levels. Okay, I've said it at nauseum when I first started |
| 399 | 00:40:16 --> 00:40:19 | talking about last year on Twitter spaces, when I'll introduce the idea of |
| 400 | 00:40:19 --> 00:40:23 | new week opening gaps and New Day opening apps. It was last spring, summer |
| 401 | 00:40:23 --> 00:40:31 | time in 2023 for the most part, I've watched most of the online chatter about |
| 402 | 00:40:31 --> 00:40:36 | them fizzle out. And frankly, that's exactly what I wanted to see happen, |
| 403 | 00:40:36 --> 00:40:39 | because I shared it, and the students that have done any work in them, they |
| 404 | 00:40:39 --> 00:40:44 | have seen value in it. But because the most, the majority of the online trading |
| 405 | 00:40:44 --> 00:40:49 | community, not just my community, but everyone they they're all looking for |
| 406 | 00:40:49 --> 00:40:52 | this magic lamp where they can pick it up, rub it three times in a genial pop |
| 407 | 00:40:52 --> 00:40:55 | out and say, Where do you what do you want to know today? Okay, the market's |
| 408 | 00:40:55 --> 00:40:58 | going to go up to this level. Buy it at this you know, you got one more wish you |
| 409 | 00:40:58 --> 00:41:02 | want to stop loss. It doesn't ever get stopped out. Okay, there's your three |
| 410 | 00:41:02 --> 00:41:04 | wishes for the day. Come the day. Come back tomorrow. Rub me, but rub me Right, |
| 411 | 00:41:04 --> 00:41:12 | right? So I introduced the concept, and because there it's too good, it really |
| 412 | 00:41:12 --> 00:41:22 | is too good to be in the majority of everyone's hands, I allow the the the |
| 413 | 00:41:22 --> 00:41:26 | interest to fade, because if I keep pumping it, pumping it, pumping it, |
| 414 | 00:41:26 --> 00:41:31 | you'll start seeing the things that I just revealed last week. So because my |
| 415 | 00:41:31 --> 00:41:38 | son is interested and he wants to document it, I know that it'll hold your |
| 416 | 00:41:38 --> 00:41:42 | attention longer if you're seeing the logic that I'm going to explain, as I |
| 417 | 00:41:42 --> 00:41:46 | explained last week, and him using it, and then eventually seeing him go with |
| 418 | 00:41:46 --> 00:41:49 | top step, and then eventually pass his combine and eventually get payouts. |
| 419 | 00:41:50 --> 00:41:55 | You'll see that the logic works not just in my hands and not just in other |
| 420 | 00:41:55 --> 00:41:59 | people's hands, but as that I want to see him doing it in his own hands, and |
| 421 | 00:41:59 --> 00:42:03 | then have the rewards of being able to do it and repeating it doesn't need to |
| 422 | 00:42:03 --> 00:42:08 | happen every single day. Caleb, but overall, if you have a net positive |
| 423 | 00:42:08 --> 00:42:12 | month, because in the beginning, you're not going to have a net positive every |
| 424 | 00:42:12 --> 00:42:16 | single week, because there's going to be a lot of this, that you're going to have |
| 425 | 00:42:16 --> 00:42:19 | hands off, that he's got to do it and learn from it and trust it, and he's |
| 426 | 00:42:20 --> 00:42:23 | making the right decisions, and when he doesn't make the right decision, the |
| 427 | 00:42:23 --> 00:42:26 | right decisions, you have to feel that effect and then work through that |
| 428 | 00:42:26 --> 00:42:31 | progress of it didn't work in my hands. I did something wrong, not the stuff |
| 429 | 00:42:31 --> 00:42:36 | doesn't work that you did it wrong, and therefore you have to grind through |
| 430 | 00:42:36 --> 00:42:40 | that. And that's all of you are going to be the same way with this. I mean, |
| 431 | 00:42:40 --> 00:42:43 | you're all gonna have those, those hit and miss. You're gonna have days where |
| 432 | 00:42:43 --> 00:42:46 | it just works like a hot night through butter, just cuts through easily and |
| 433 | 00:42:46 --> 00:42:49 | goes right to where you want to go right away and you're done. You can go do |
| 434 | 00:42:49 --> 00:42:52 | whatever you want to do. Other days you're gonna have to really work for it. |
| 435 | 00:42:52 --> 00:42:56 | And I have learned over 30 plus years the days that you really have to work |
| 436 | 00:42:56 --> 00:43:01 | for it. It's better for you to get out of the trade that you're in, if you're |
| 437 | 00:43:01 --> 00:43:05 | having a whole lot of mental capital spent on the outcome of the trade, and |
| 438 | 00:43:05 --> 00:43:10 | you're just worrying about it being right in your favor, it's actually a |
| 439 | 00:43:10 --> 00:43:14 | better exercise for you to develop discipline just to close the trade, turn |
| 440 | 00:43:14 --> 00:43:18 | the charts off and go do something else, because what you're doing is you're |
| 441 | 00:43:18 --> 00:43:22 | burning mental capital. You're worrying and stressing, and what you're doing |
| 442 | 00:43:22 --> 00:43:25 | also is you're triggering all of these stress hormones in your body. And I wore |
| 443 | 00:43:25 --> 00:43:33 | myself down as a young man doing that. If you spend every single day of the |
| 444 | 00:43:33 --> 00:43:38 | week, and for some of you, many hours each day, obsessing and worrying about |
| 445 | 00:43:38 --> 00:43:42 | what the market's going to do and really not knowing what to do or how to behave |
| 446 | 00:43:42 --> 00:43:45 | when it does certain things, and signaling to you that, Okay, it's done. |
| 447 | 00:43:45 --> 00:43:52 | Be content with it. If you don't adopt those protocols, you're going to stress |
| 448 | 00:43:52 --> 00:43:57 | yourself out. And here's the thing, I have met tons of people that are |
| 449 | 00:43:57 --> 00:44:03 | profitable, but they're absolutely unhealthy and unhappy, because they're |
| 450 | 00:44:03 --> 00:44:09 | constantly trying to get more than what they need. I've seen many people go out |
| 451 | 00:44:09 --> 00:44:14 | there and do exceedingly well intraday, and they go in again and they take |
| 452 | 00:44:14 --> 00:44:19 | another trade because it isn't good enough on they want to make more. And |
| 453 | 00:44:19 --> 00:44:23 | I'm trying to teach you have a mindset where, if you go out there and you do |
| 454 | 00:44:23 --> 00:44:28 | something once a day, and you get the experience from it, if it's positive, |
| 455 | 00:44:28 --> 00:44:32 | wonderful, if it's not positive, now you have an opportunity to study what you |
| 456 | 00:44:32 --> 00:44:36 | didn't do right, or what you didn't observe correctly. Those are the two |
| 457 | 00:44:36 --> 00:44:41 | perspectives to hold, not that you know this stuff doesn't work or they they did |
| 458 | 00:44:41 --> 00:44:47 | it to you. Okay, I'll give you a perfect example. I knew there was a strong |
| 459 | 00:44:47 --> 00:44:53 | likelihood that these relative equal highs could be retreated to, because |
| 460 | 00:44:53 --> 00:44:56 | that the CPI and PPI numbers are coming out Tuesday and Wednesday, and the |
| 461 | 00:44:56 --> 00:45:01 | characteristic of this morning session ahead of those days. It tends to be a |
| 462 | 00:45:01 --> 00:45:06 | lot more of this type of stuff, back and forth, back and forth, back and forth, |
| 463 | 00:45:06 --> 00:45:12 | and then bump stop me, and I said, and then once it does that, good old Phil |
| 464 | 00:45:12 --> 00:45:15 | and take the price back down to where I says, where it was going to go. And it |
| 465 | 00:45:15 --> 00:45:25 | did, so I can get mad like I did when I was 20, and say, Oh, you so and so's you |
| 466 | 00:45:25 --> 00:45:30 | did it to me again. Or I can say you didn't beat me today, even though you |
| 467 | 00:45:30 --> 00:45:36 | took away the the majority of what I was trying to do, you didn't take everything |
| 468 | 00:45:36 --> 00:45:40 | from me. And that's the benefit of knowing where to take partials, because |
| 469 | 00:45:40 --> 00:45:43 | as soon as you take partials and you run your stock to a position of covering any |
| 470 | 00:45:43 --> 00:45:51 | costs, you are in the closest thing to Nirvana as a trader, because now the |
| 471 | 00:45:51 --> 00:45:57 | outcome of the trade is no longer all that critical, is it no because you've |
| 472 | 00:45:57 --> 00:46:01 | taken something out of the trade, you've locked in a position where, even If it |
| 473 | 00:46:01 --> 00:46:07 | were to come back on you, you can't lose, you can't lose, barring some crazy |
| 474 | 00:46:07 --> 00:46:13 | gap, you know, like, that's always there, but you technically barring some |
| 475 | 00:46:13 --> 00:46:18 | crazy volatility gap that would be, you know, unrealistic to expect. I guess it, |
| 476 | 00:46:18 --> 00:46:21 | it could happen now, with all that, all the stuff that's going on over in Europe |
| 477 | 00:46:21 --> 00:46:27 | and Middle East, to the Brits last year, when I was talking about watch Britain, |
| 478 | 00:46:28 --> 00:46:32 | watch the UK. You're gonna you're gonna have some crazy stuff happen. Are you |
| 479 | 00:46:32 --> 00:46:37 | paying attention? It's almost like, uh, reading price action, isn't it? So just |
| 480 | 00:46:37 --> 00:46:41 | be careful over there. And it's going to be coming here, and it's going to come |
| 481 | 00:46:41 --> 00:46:47 | to Canada, and we're all going to feel it. But the point is, you can react to |
| 482 | 00:46:47 --> 00:46:52 | those types of stimuli where you get stopped out prematurely and go back and |
| 483 | 00:46:52 --> 00:47:02 | hunt, try to do something extra, because you didn't get your full run. If I pull |
| 484 | 00:47:02 --> 00:47:02 | this back up |
| 485 | 00:47:08 --> 00:47:15 | this old high. Those are the relative equal highs that the market was reaching |
| 486 | 00:47:15 --> 00:47:21 | for. But this is the level of least importance to me. What I want to see it |
| 487 | 00:47:21 --> 00:47:27 | do is trade above these highs here. Why? Because starting at time 7am my interest |
| 488 | 00:47:27 --> 00:47:35 | is there. So we go up, we go down, we rally back above. So the buy side is |
| 489 | 00:47:35 --> 00:47:40 | taken, and just for good measure, it takes out the highs from the previous |
| 490 | 00:47:41 --> 00:47:45 | session, and then we break lower, and then we have a fair value gap, okay? And |
| 491 | 00:47:45 --> 00:47:51 | the market trades up into the fair value gap right there. And I'm looking at how |
| 492 | 00:47:51 --> 00:47:56 | the market wants to use old inefficiencies, because I'm thinking |
| 493 | 00:47:56 --> 00:48:02 | it's going to stay heavy and really work towards this low a lot faster, because |
| 494 | 00:48:02 --> 00:48:07 | it wants to do the moves generally a little earlier. When we have big news on |
| 495 | 00:48:07 --> 00:48:11 | a Tuesday and Wednesday, like we have in our academic calendar, when do you trade |
| 496 | 00:48:11 --> 00:48:15 | these early sessions? ICT, why are you? Why are you sometimes taking trades |
| 497 | 00:48:15 --> 00:48:21 | before 930 opening bell or before 10 o'clock? Silver bullet, I've said this |
| 498 | 00:48:21 --> 00:48:25 | before, but this is the part where you write down, okay, if I have an economic |
| 499 | 00:48:25 --> 00:48:29 | calendar that has like, these big, impactful events on the following |
| 500 | 00:48:29 --> 00:48:35 | trading day, then I'm going to try to take the trades early, because |
| 501 | 00:48:35 --> 00:48:39 | everybody's going to be in here trying to do something at the opening bell. And |
| 502 | 00:48:39 --> 00:48:44 | it's also a Monday. So because nobody blew up anything, and we went we didn't |
| 503 | 00:48:44 --> 00:48:48 | go thermonuclear over in the Middle East, everybody wants to go in and take |
| 504 | 00:48:48 --> 00:48:51 | a lot of trades. So there's going to be a lot of volatility, there's gonna be a |
| 505 | 00:48:51 --> 00:48:55 | lot of interest in trades right away. And I want to be in when the market's |
| 506 | 00:48:55 --> 00:48:59 | the cleanest. And how is that going to be determined? Well, what I taught you |
| 507 | 00:48:59 --> 00:49:03 | last week at seven o'clock to eight o'clock. I'm going to use that first 30 |
| 508 | 00:49:03 --> 00:49:12 | minutes post 7am and that's here. Okay, so here's seven o'clock to 730 Ray |
| 509 | 00:49:12 --> 00:49:18 | there. Okay, so what did we form that high, that low? That's why I'm |
| 510 | 00:49:18 --> 00:49:23 | delineating those levels. Okay, in case you have forgot last, last week's rules, |
| 511 | 00:49:24 --> 00:49:28 | so we traded down below it. Okay? So now we're going to wait and see. Does it |
| 512 | 00:49:28 --> 00:49:34 | want to come back up and upset these here, knowing full well that the new |
| 513 | 00:49:34 --> 00:49:39 | week opening gap is down here for this week, August 11, that's Sunday opening |
| 514 | 00:49:39 --> 00:49:44 | from Friday's closing settlement price. That's what the new week opening gap is. |
| 515 | 00:49:45 --> 00:49:51 | So since it's below it, and then the next new day opening gap is last Friday, |
| 516 | 00:49:51 --> 00:49:57 | the ninth, where is that down here? So all we're going to do for guidance, all |
| 517 | 00:49:59 --> 00:50:02 | we're going. Do is follow rules I gave you last week. We're gonna wait for the |
| 518 | 00:50:02 --> 00:50:07 | market to be made jagged on the opposing side of where these inefficiencies are. |
| 519 | 00:50:07 --> 00:50:12 | Isn't that easy. All you're doing is waiting for them to run up, take out the |
| 520 | 00:50:12 --> 00:50:17 | smooth areas right here, and they ran through the previous highs and then did |
| 521 | 00:50:17 --> 00:50:23 | what we break lower, and then we have displacement in here. So if we go back |
| 522 | 00:50:23 --> 00:50:30 | through all this price action here, we can then start looking for Hang on one |
| 523 | 00:50:30 --> 00:50:34 | second. I thought I had my laptop plugged in. I'm in the in case the |
| 524 | 00:50:34 --> 00:50:37 | acoustics are acting a little weird in the audio. It's because I'm inside the |
| 525 | 00:50:37 --> 00:50:41 | great room of my first floor of the house. So it's I have really, really |
| 526 | 00:50:41 --> 00:50:48 | high ceilings, and I can hear it as I'm talking. Sometimes it's like equity. I'm |
| 527 | 00:50:48 --> 00:50:51 | in a big, a big room here. So hang on one second and plug this in before |
| 528 | 00:50:58 --> 00:51:01 | I lose the power. Speaking of power, last week, we had the remnants of |
| 529 | 00:51:01 --> 00:51:07 | Hurricane Debbie come through, and the wind was kind of whipping up, so we lost |
| 530 | 00:51:07 --> 00:51:10 | power for a moment, until I had all my generators turned back on. Since I |
| 531 | 00:51:10 --> 00:51:14 | wanted to leave the session last week or last Friday at 10 o'clock, I had no |
| 532 | 00:51:14 --> 00:51:18 | interest in in trying to log back in, and I had to take care of what I had to |
| 533 | 00:51:18 --> 00:51:21 | take care of. So I wasn't going on this, the site or the community post to try to |
| 534 | 00:51:21 --> 00:51:24 | tell you what was going on, because what was going on, because I had things to |
| 535 | 00:51:24 --> 00:51:30 | take care of. But anyway, we had this inefficiency here, and going back over |
| 536 | 00:51:30 --> 00:51:36 | through all this, see, all this, right here, all this inefficiency, even though |
| 537 | 00:51:36 --> 00:51:41 | we went back and forth through here, I'm aiming for all that in there. And then |
| 538 | 00:51:41 --> 00:51:46 | we have this inefficiency. I traded into it there, right at the bottom, right |
| 539 | 00:51:46 --> 00:51:51 | there, you see that I want to get in the trade. Some of you may see what I'm |
| 540 | 00:51:51 --> 00:51:55 | teaching and say, Okay, I can see the fair value gaps. I can see the inversion |
| 541 | 00:51:55 --> 00:52:00 | fair value gaps he's talking about. I can see I can see the order blocks. |
| 542 | 00:52:01 --> 00:52:07 | Okay, I can see it. But where do I get in it? Well, if I'm trying to trade and |
| 543 | 00:52:07 --> 00:52:14 | get short, I'm going to use the lowest, probably the lowest probable resistance |
| 544 | 00:52:15 --> 00:52:19 | in terms of getting in the trade. In other words, I'm going to use the lowest |
| 545 | 00:52:19 --> 00:52:24 | threshold level on a fair value gap that I think is going to hold price down, |
| 546 | 00:52:24 --> 00:52:29 | because I have strapped many times to be very, very, very precise with the stuff. |
| 547 | 00:52:29 --> 00:52:33 | I understand and know what the market's likely to do more times than it's not. |
| 548 | 00:52:34 --> 00:52:39 | And I've watched my limit orders. Should it prints the price that should have |
| 549 | 00:52:39 --> 00:52:43 | given me a fill, but it doesn't do it, and it runs the other direction. And to |
| 550 | 00:52:43 --> 00:52:48 | me, as a 20 year old, that used to really make me angry, because it made me |
| 551 | 00:52:48 --> 00:52:52 | like, you know, come on, this is like, I took it personal. I literally took it |
| 552 | 00:52:52 --> 00:52:57 | personal. And I'm assuming, you know, like in this life dream, you have to |
| 553 | 00:52:57 --> 00:53:01 | assume that they're just simply not going to let you have it, especially if |
| 554 | 00:53:01 --> 00:53:05 | you're if you're right, a lot, if you're right, a lot you're standing out. |
| 555 | 00:53:05 --> 00:53:09 | There's going to be a lot of other people that doing that's doing well, but |
| 556 | 00:53:09 --> 00:53:13 | they have an issue with just you. I'm not saying you, I'm talking about me |
| 557 | 00:53:13 --> 00:53:20 | specifically. They can, they can't stop all of you, but if they stop me, that |
| 558 | 00:53:20 --> 00:53:23 | discourages anybody from trying to follow me or the logic that I teach see |
| 559 | 00:53:23 --> 00:53:28 | the difference. So take out the King. I'm not saying I'm the king, but take |
| 560 | 00:53:28 --> 00:53:34 | out the king and the pawns will fall. So if I share my stop loss orders, if I |
| 561 | 00:53:34 --> 00:53:38 | share my ideas of where I'm actually going to try to get into a trade, I'm |
| 562 | 00:53:38 --> 00:53:44 | actually creating a liquidity and even a larger bullseye. So I tried to do things |
| 563 | 00:53:44 --> 00:53:48 | in a manner where I don't want to draw too much attention to it, but you can |
| 564 | 00:53:48 --> 00:53:55 | see all of the logic is still here, but entering on in the inefficiency over |
| 565 | 00:53:55 --> 00:54:02 | here, extending it through what is it? What is this right here? What is that |
| 566 | 00:54:02 --> 00:54:08 | right there? This inefficiency, what is it? What kind of classification is that? |
| 567 | 00:54:10 --> 00:54:13 | Well, for folks that think they understand fair value gaps and whatnot, |
| 568 | 00:54:13 --> 00:54:17 | they think when it trades up there, it's going to sell off, not if you don't have |
| 569 | 00:54:17 --> 00:54:20 | the information I'm teaching you. Because what are we expecting? We're |
| 570 | 00:54:20 --> 00:54:23 | expecting we're expecting these relative equal highs to be taken in as much as |
| 571 | 00:54:23 --> 00:54:28 | these levels up here traded to go back and listen to the lectures last week, if |
| 572 | 00:54:28 --> 00:54:31 | you're if you're watching this one, and didn't watch the last last week's |
| 573 | 00:54:31 --> 00:54:35 | lecture, or skipped, or didn't really listen to any of the things I said, and |
| 574 | 00:54:35 --> 00:54:38 | you just watched, and maybe we're bored to death and turned off the thing |
| 575 | 00:54:38 --> 00:54:43 | because you think it's not of any interest. Go back and really go through |
| 576 | 00:54:43 --> 00:54:50 | and listen to it and take notes. Scouts over there snoring, you'll probably hear |
| 577 | 00:54:52 --> 00:55:04 | it is a reclaimed fair value guy. Uh, meaning that, see, when the narrative in |
| 578 | 00:55:04 --> 00:55:09 | the time are not in an agreement, even though it trades back up to these |
| 579 | 00:55:09 --> 00:55:12 | inefficiencies, you're thinking just like everybody thought, a down close |
| 580 | 00:55:12 --> 00:55:15 | candle every single time a down close candles touch, the market's going to go |
| 581 | 00:55:15 --> 00:55:18 | up. That's what everybody over on baby pips thought when I was first teaching |
| 582 | 00:55:18 --> 00:55:23 | about the idea of my order block, and because they tried to do those types of |
| 583 | 00:55:23 --> 00:55:26 | things and assume that, okay, it's going to go up, it's going to go down based on |
| 584 | 00:55:26 --> 00:55:31 | these candlesticks that ICT was talking about. And when they failed in their own |
| 585 | 00:55:31 --> 00:55:34 | hands, because they didn't understand the narrative, they didn't understand |
| 586 | 00:55:34 --> 00:55:39 | the logic and how to actually use them, they run away and say, well, it doesn't |
| 587 | 00:55:39 --> 00:55:44 | work. And then you have a lot of people that are doing that, and you have new |
| 588 | 00:55:44 --> 00:55:47 | people coming in, and they have an interest and say, Oh, I hear a lot about |
| 589 | 00:55:47 --> 00:55:50 | this guy named ICT and these smart money concepts, and they start seeing other |
| 590 | 00:55:50 --> 00:55:55 | people's opinions, and because they're lazy, they'll take those opinions and |
| 591 | 00:55:55 --> 00:55:59 | say, Well, you know, they're saying they lost money. It doesn't work. So |
| 592 | 00:55:59 --> 00:56:02 | therefore I'm going to avoid that, because I don't want to be prudent and |
| 593 | 00:56:02 --> 00:56:06 | actually do the investigation myself and try to use it in my own hands and see if |
| 594 | 00:56:06 --> 00:56:10 | there's any valid used to this information. So therefore, that's why |
| 595 | 00:56:10 --> 00:56:14 | you get the stigma that's around me. But then for the people that actually go |
| 596 | 00:56:14 --> 00:56:18 | through the process of learning it, doing the right way and spending time in |
| 597 | 00:56:18 --> 00:56:22 | their own charts, weighing out the rules and things I've taught. I did give |
| 598 | 00:56:22 --> 00:56:26 | guidance. But the problem is I've warned you ahead of time, it's going to take |
| 599 | 00:56:26 --> 00:56:30 | you a whole lot more time that you want it to take. And then when you start |
| 600 | 00:56:30 --> 00:56:35 | spending that time, and you really make good use of that time, journaling and |
| 601 | 00:56:35 --> 00:56:40 | seeing the examples of what it looks like, you will see that the times that |
| 602 | 00:56:41 --> 00:56:44 | in your own hands, that will fail. As long as you understand the correct |
| 603 | 00:56:45 --> 00:56:50 | narrative, and you're understanding the elements of time when these things |
| 604 | 00:56:50 --> 00:56:54 | should happen, you'll see that they work a lot more than they'll fail in your |
| 605 | 00:56:54 --> 00:56:59 | hands, meaning that there's an edge there. And with experience, you'll start |
| 606 | 00:56:59 --> 00:57:03 | saying, Okay, well if, if I see where it didn't work in my hands, here, here, and |
| 607 | 00:57:03 --> 00:57:08 | here, here, here, what was I doing those days, or those instances that I was |
| 608 | 00:57:09 --> 00:57:13 | unaware of seeing when it was not likely to pan out for me. And then that's |
| 609 | 00:57:13 --> 00:57:18 | experience that I can't encapsulate in a book. I can't encapsulate that in a |
| 610 | 00:57:18 --> 00:57:23 | lecture. There are things that are going to be much more useful to you, because I |
| 611 | 00:57:23 --> 00:57:26 | don't know where your shortcomings are in reading the information that's in |
| 612 | 00:57:26 --> 00:57:29 | price. I don't know that, and you can tell me in an email, and I have lots of |
| 613 | 00:57:29 --> 00:57:35 | people try to do that, and they want me to fix their their their hang up, and I |
| 614 | 00:57:35 --> 00:57:38 | don't know all the things that you're feeling and what you're thinking, what |
| 615 | 00:57:38 --> 00:57:41 | you're fearful of, what you're excited about, what your motivation is, all of |
| 616 | 00:57:41 --> 00:57:45 | those things are going to be impactful for you, either taking the trade or not |
| 617 | 00:57:45 --> 00:57:49 | taking the trade, and you're trying to rush through all those discoveries about |
| 618 | 00:57:49 --> 00:57:53 | yourself. And that's the under, that's the undermining that that's going to |
| 619 | 00:57:53 --> 00:57:57 | happen in your development. But you're going to fault something else, or me, or |
| 620 | 00:57:57 --> 00:58:01 | some you know, something else outside yourself is going to be the external |
| 621 | 00:58:01 --> 00:58:05 | factor for why you didn't find success, and to me, that's unfortunate, because |
| 622 | 00:58:05 --> 00:58:10 | that's the that's the prevailing mindset of most people today, old and young, |
| 623 | 00:58:11 --> 00:58:15 | because they're lazy. And I know you don't like hearing that. You think I'm |
| 624 | 00:58:15 --> 00:58:19 | being condescending, but it's the truth, because you're not hearing me when I |
| 625 | 00:58:19 --> 00:58:24 | tell you you're going to have to do this for months, okay? Months, and you should |
| 626 | 00:58:24 --> 00:58:28 | be demoing Okay, for a minimum of six months before you ever trade with a real |
| 627 | 00:58:28 --> 00:58:33 | account ever. Because you don't know enough about yourself. You don't know |
| 628 | 00:58:33 --> 00:58:38 | what these tools are going to do in your own hands. Some of you may have a wild |
| 629 | 00:58:38 --> 00:58:43 | run of just everything's working out good, and you don't have the lessons |
| 630 | 00:58:43 --> 00:58:48 | that come through hardship, that are going to come eventually, and then you |
| 631 | 00:58:48 --> 00:58:52 | have to discover how to grind through that and refer back to when it was |
| 632 | 00:58:52 --> 00:58:56 | working in your hands. Don't throw the baby out with the bathwater. And that's |
| 633 | 00:58:56 --> 00:59:00 | what everybody wants to do. They want to find the next hot thing. I am the hot |
| 634 | 00:59:00 --> 00:59:03 | thing. Okay, because this is the market. This is what the market's going to do |
| 635 | 00:59:03 --> 00:59:09 | every day, every week. The problem is, there's going to be times where the DAC |
| 636 | 00:59:09 --> 00:59:17 | is stacked. It's stacked. The deck is stacked mid game against even me. That's |
| 637 | 00:59:17 --> 00:59:21 | manual intervention. In other words, you ever been to a casino? You ever been to |
| 638 | 00:59:21 --> 00:59:26 | casino and you're playing blackjack, and the dealer, and you maybe a couple other |
| 639 | 00:59:26 --> 00:59:31 | people are playing, and you just got a good hot run, and all of a sudden you're |
| 640 | 00:59:31 --> 00:59:34 | making money, or someone at the table is making money, and then they'll come out |
| 641 | 00:59:34 --> 00:59:37 | and they'll change the shoe, okay, the shoe is that little box they have |
| 642 | 00:59:37 --> 00:59:44 | multiple decks in. Okay, that deck, or those decks that is a stack, okay? It's |
| 643 | 00:59:44 --> 00:59:50 | designed to run out a certain favor of odds in the houses, hand the casinos |
| 644 | 00:59:50 --> 00:59:56 | hand. Knowing how to count cards gives you an advantage. It doesn't tell you |
| 645 | 00:59:56 --> 01:00:01 | every order that that shoe of cards. It just gives you an advantage. Inch of how |
| 646 | 01:00:01 --> 01:00:05 | many cards are left in that shoe. But if they know, because they have the eye in |
| 647 | 01:00:05 --> 01:00:07 | the sky, that means there's people up there watching, there's cameras |
| 648 | 01:00:07 --> 01:00:11 | watching. If they know there's a man or a woman at a table that constantly is |
| 649 | 01:00:11 --> 01:00:13 | cleaning up, they're going to come out and they're going to change the shoe. |
| 650 | 01:00:13 --> 01:00:17 | They're not running out of cards, but they're bringing a new shoe there, which |
| 651 | 01:00:17 --> 01:00:23 | messes up your count you have, if you're a card counter, if you're smart, you're |
| 652 | 01:00:23 --> 01:00:26 | getting up, you're casting your chips, and you're going home and you're going |
| 653 | 01:00:26 --> 01:00:30 | to go to another casino, and you won't come back to that one for months, |
| 654 | 01:00:30 --> 01:00:36 | because now they they're on to you. Okay? These tells, these little things, |
| 655 | 01:00:36 --> 01:00:40 | where it tells you in the marketplace that you are not likely to have the |
| 656 | 01:00:40 --> 01:00:45 | advantage right? Now, something's been changed. Okay? If you watch the movie, |
| 657 | 01:00:45 --> 01:00:49 | The Matrix, when they see a deja vu moment, that means there's a glitch in |
| 658 | 01:00:49 --> 01:00:52 | the matrix, right? Something has changed according to the script in that movie. |
| 659 | 01:00:52 --> 01:00:57 | Well, the same thing in price action. If you see something that upsets what is |
| 660 | 01:00:57 --> 01:00:58 | normal? |
| 661 | 01:01:00 --> 01:01:04 | Are you going to go in and just say I'm not going to pay attention to that? It's |
| 662 | 01:01:04 --> 01:01:07 | not a warning to me. I'm going to I'm better than this. I'll overcome it. |
| 663 | 01:01:08 --> 01:01:13 | That's what I did when I was 20. Now, because I know I've been doing it a long |
| 664 | 01:01:13 --> 01:01:20 | time, I know how I can hurt myself. I can hurt myself in this so to prevent |
| 665 | 01:01:20 --> 01:01:26 | myself from being overly emotional or too psychologically committed to the |
| 666 | 01:01:26 --> 01:01:30 | outcome, needing it to be in my favor for the sake of being right. These are |
| 667 | 01:01:30 --> 01:01:35 | all things I had to wrestle with. I had to create protocols and say, Okay, where |
| 668 | 01:01:35 --> 01:01:39 | were my losing trades? Where were the times where I blew my account? Where |
| 669 | 01:01:39 --> 01:01:44 | were the things that caused me to go into a tailspin, and I couldn't find the |
| 670 | 01:01:44 --> 01:01:47 | rhythm of getting back into finding a series of winning trades. Again, you |
| 671 | 01:01:47 --> 01:01:51 | find that by keeping a journal and being honest in it, but not beating yourself |
| 672 | 01:01:51 --> 01:01:56 | up. But it was easy for me to see where I was hurting myself, because when I was |
| 673 | 01:01:56 --> 01:02:00 | journaling initially as a 20 year old, all of those journals were highly toxic |
| 674 | 01:02:00 --> 01:02:04 | and directed towards myself as a failure. So it'd be very easy for me to |
| 675 | 01:02:04 --> 01:02:09 | highlight what I was thinking, and most of it was relationship and I didn't like |
| 676 | 01:02:09 --> 01:02:13 | where I was working in. And it's probably for some of you that's the very |
| 677 | 01:02:13 --> 01:02:18 | central tenets of why you're overdoing it. You're pushing too hard because you |
| 678 | 01:02:18 --> 01:02:23 | want to get out of that uncomfortable state. This is the stuff that nobody |
| 679 | 01:02:23 --> 01:02:26 | wants to hear about, because it's reminder that these things exist in your |
| 680 | 01:02:26 --> 01:02:30 | personal life too, and you're like, This has nothing to do. Look, I didn't ask to |
| 681 | 01:02:30 --> 01:02:35 | come and listen to the doctor, Phil, okay. I want to hear how to trade. But |
| 682 | 01:02:35 --> 01:02:39 | you don't realize until you go through it, that those are the things that are |
| 683 | 01:02:39 --> 01:02:44 | going to be impactful and resistance to you being successful, because you're |
| 684 | 01:02:44 --> 01:02:47 | you're going to tap into them subconsciously, and by having rules |
| 685 | 01:02:47 --> 01:02:51 | about knowing when I'm not going to trade again, I'm not going to go back in |
| 686 | 01:02:51 --> 01:02:55 | even if the market does this or that, because I know the economic calendar |
| 687 | 01:02:55 --> 01:02:58 | tomorrow and Tuesday, I'm sorry, Wednesday, Tuesday and Wednesday have |
| 688 | 01:02:58 --> 01:03:04 | Such a huge weight of volatility in the offing. It's going to happen tomorrow, |
| 689 | 01:03:04 --> 01:03:07 | guaranteed. We're going to have lots of movement on Tuesday, lots of movement on |
| 690 | 01:03:07 --> 01:03:11 | Wednesday. And a lot of folks are sitting back, and they're going to wait |
| 691 | 01:03:11 --> 01:03:15 | for those reports they're going to pass, and then they'll start putting money in |
| 692 | 01:03:15 --> 01:03:19 | the marketplace or taking money out in respect to whatever the market does as a |
| 693 | 01:03:19 --> 01:03:25 | response to those data points. But if you don't have rules and protocols in |
| 694 | 01:03:25 --> 01:03:29 | play that you know this is what you're trying to do, and this is what you're |
| 695 | 01:03:29 --> 01:03:34 | trying to avoid, you're going to be aimless, like a, like a, like a sailboat |
| 696 | 01:03:34 --> 01:03:38 | out there without a rudder, wherever the wind blows you. And are you in control |
| 697 | 01:03:38 --> 01:03:41 | your trading when it's like that? I can tell you I was not in control of my |
| 698 | 01:03:41 --> 01:03:45 | trades when I was like that at like that at all, and then I was always forced to |
| 699 | 01:03:45 --> 01:03:49 | have an emotional response that was always exaggerated. And when I was |
| 700 | 01:03:49 --> 01:03:54 | right, it was, yeah, super skill, and when I was wrong, it was the end of the |
| 701 | 01:03:54 --> 01:03:57 | world. And I wanted to quit trading. I never wanted to do it again, and I had |
| 702 | 01:03:57 --> 01:04:00 | to convince myself by going back and look at the times where I did it right. |
| 703 | 01:04:01 --> 01:04:04 | And that encouraged me, because I didn't have an ICT talking to me. I didn't have |
| 704 | 01:04:04 --> 01:04:10 | these cheerleading sessions or guidance, okay? I had a couple videos that I knew |
| 705 | 01:04:10 --> 01:04:15 | verbatim, and I couldn't, couldn't get anything out of them anymore to keep me |
| 706 | 01:04:15 --> 01:04:21 | going, so I had to refer back to the times I did it correctly. And then also |
| 707 | 01:04:22 --> 01:04:28 | treating my opportunities where I did it wrong as a means of this is my goal to |
| 708 | 01:04:28 --> 01:04:33 | figure out what I was doing wrong there. Notice the language I used there. I |
| 709 | 01:04:33 --> 01:04:39 | didn't say how the market doesn't work and or the concepts don't work. I was |
| 710 | 01:04:39 --> 01:04:43 | being very personal about the opportunity of discovering where I was |
| 711 | 01:04:43 --> 01:04:49 | doing it wrong, and then my opinion as a mentor, I see that a lot. I see it in |
| 712 | 01:04:49 --> 01:04:52 | older students that have not been profitable yet. And they have those |
| 713 | 01:04:52 --> 01:04:55 | tenants, they have those central tenants. They don't like to hear it |
| 714 | 01:04:55 --> 01:04:57 | because they want to be able to say, Well, no, it's this, it's that. It's you |
| 715 | 01:04:57 --> 01:05:01 | didn't teach me right, or you didn't teach me to see. This in secret that |
| 716 | 01:05:01 --> 01:05:06 | again, here I am on YouTube teaching the very things that are absolutely going to |
| 717 | 01:05:06 --> 01:05:11 | cause these markets to do what they're doing based on time and price. And it's |
| 718 | 01:05:11 --> 01:05:16 | happening again, just like every other lecture series I ever did, just like the |
| 719 | 01:05:16 --> 01:05:20 | paid mentorship videos I uploaded on the YouTube channel, that stuff doesn't fall |
| 720 | 01:05:20 --> 01:05:23 | out of favor. It's not going to get stale. It's it's the it's what the |
| 721 | 01:05:23 --> 01:05:30 | market's going to do. But because you have so many things, like a candy store |
| 722 | 01:05:30 --> 01:05:34 | in front of you, how are you going to use the information? I can't |
| 723 | 01:05:34 --> 01:05:39 | realistically force you into a mold, but I am in certain aspects. Because he's my |
| 724 | 01:05:39 --> 01:05:44 | son, I'm leaning on the authority of being his dad when I say you're going to |
| 725 | 01:05:44 --> 01:05:50 | trade the morning session, knowing full well that this will at least give him a |
| 726 | 01:05:50 --> 01:05:54 | baseline. And then if he wants to change up and go to trade in the London session |
| 727 | 01:05:54 --> 01:05:59 | or trading the afternoon session in the in the US, he can make that decision |
| 728 | 01:05:59 --> 01:06:04 | because he'll have the same protocols that he uses here, just at a different |
| 729 | 01:06:04 --> 01:06:08 | time of day, and I'm not willing to make changes. I don't want to sit up in |
| 730 | 01:06:08 --> 01:06:12 | London. I don't want to do that all over again. I don't want to do that. So since |
| 731 | 01:06:12 --> 01:06:16 | this is, you know, second time for him to go through this, it's dad saying, |
| 732 | 01:06:16 --> 01:06:21 | Okay, I'm not willing to make changes to my schedule. I'll do it once. To show |
| 733 | 01:06:21 --> 01:06:24 | you the logic. And for all of you that are here wanting to learn, you have an |
| 734 | 01:06:24 --> 01:06:29 | interest in that time of day, but you'll see that nothing's really changing. It's |
| 735 | 01:06:29 --> 01:06:34 | just you're applying the same concepts of measuring time, determining where the |
| 736 | 01:06:34 --> 01:06:39 | liquidity is, and then waiting for this disruption, and the waters are made |
| 737 | 01:06:39 --> 01:06:43 | jagged or rough, wherever it's smooth, okay, you're waiting for that jaggedness |
| 738 | 01:06:43 --> 01:06:53 | to come in. And if you look at what has been shown here, what I traded off of is |
| 739 | 01:06:53 --> 01:07:00 | these relative equal highs, this up close candle, I'm anticipating that as a |
| 740 | 01:07:00 --> 01:07:08 | bearish order block. Why? Because it's going above the relative equal highs. We |
| 741 | 01:07:08 --> 01:07:15 | had the market trade lower. It went beyond the opening price. Listen, folks, |
| 742 | 01:07:15 --> 01:07:20 | this is for order block. Fans, okay, my order block does not require to trade |
| 743 | 01:07:20 --> 01:07:26 | below the wick, if I understand the narrative. And let's talk a little bit |
| 744 | 01:07:26 --> 01:07:32 | about narrative. This morning, my interest was being short. I wanted to be |
| 745 | 01:07:32 --> 01:07:37 | short because we had a nice run all last week, and we really didn't see TGIF on |
| 746 | 01:07:37 --> 01:07:42 | Friday. I talked about it with Kayla. Said I believe it could do it. It could |
| 747 | 01:07:42 --> 01:07:45 | potentially have a retracement as much as 20 to 30% of the weekly range. It |
| 748 | 01:07:46 --> 01:07:50 | didn't do that. They kept pressing it into Friday's close. Okay, wonderful. So |
| 749 | 01:07:50 --> 01:07:55 | how do I trade with that information, knowing that TGIF did not form on a |
| 750 | 01:07:55 --> 01:08:01 | Friday if the market didn't retrace 20 to 30% of previous week's range, and if |
| 751 | 01:08:01 --> 01:08:06 | it's an up close week, if I see that, that's likely to happen, but it doesn't |
| 752 | 01:08:06 --> 01:08:11 | deliver. Let's say I took a trade on Friday and I was trying to get short, |
| 753 | 01:08:11 --> 01:08:14 | and it just didn't Peter it just it didn't pan out, and it Petered out, and |
| 754 | 01:08:14 --> 01:08:18 | maybe it caused a losing trade, or maybe it didn't give me a fill in, or it just |
| 755 | 01:08:18 --> 01:08:23 | didn't give me what I thought was gonna happen, that the end result is what was |
| 756 | 01:08:23 --> 01:08:28 | lacking. TGIF did not materialize and manifest itself on a Friday. Wonderful. |
| 757 | 01:08:28 --> 01:08:34 | So fast forward to Monday. If you're going to trade on Monday, and this is |
| 758 | 01:08:34 --> 01:08:38 | true, even if there is CPI PPI on Tuesday and Wednesday or later in the |
| 759 | 01:08:38 --> 01:08:45 | week, you can use this information anticipate the likelihood of 20 to 30% |
| 760 | 01:08:45 --> 01:08:51 | of the previous week's range occurring on Monday's trading. So it's TGIF, but |
| 761 | 01:08:51 --> 01:08:56 | the the actual retracement of it is deferred to the following week. In this |
| 762 | 01:08:56 --> 01:09:01 | case, it's Monday. Do you need 20% of the weekly previous week's range to be |
| 763 | 01:09:01 --> 01:09:08 | profitable, no, but it's one more little box to check that probabilities are |
| 764 | 01:09:08 --> 01:09:15 | better in the short than going long. So then, when you start mapping out your |
| 765 | 01:09:15 --> 01:09:18 | your day, seven o'clock in the morning, as I outlined last week, determine what |
| 766 | 01:09:18 --> 01:09:22 | your initial high for buy side is, and what your initial low is for your sell |
| 767 | 01:09:22 --> 01:09:28 | side, wait for them to be taken. And if you have the weekly gap, the new week |
| 768 | 01:09:28 --> 01:09:31 | opening gap and a new day opening gaps are below price, and you have that |
| 769 | 01:09:31 --> 01:09:35 | function of determining, okay, well, it could retrace into some of previous |
| 770 | 01:09:35 --> 01:09:40 | week's range. You have a lot of things going in your favor that point to what |
| 771 | 01:09:40 --> 01:09:47 | the initial run will offer you a range so that way you can determine some kind |
| 772 | 01:09:47 --> 01:09:53 | of directional bias. That bias doesn't have to be the daily range bias, where |
| 773 | 01:09:53 --> 01:09:58 | you're predicting the closes above or below the opening price. Remember, it's |
| 774 | 01:09:58 --> 01:10:03 | session bias too. And. You need to be able to determine that first Caleb, you |
| 775 | 01:10:03 --> 01:10:08 | need to be focusing on in the morning session. I want to know where a run |
| 776 | 01:10:08 --> 01:10:16 | could form that is measurable. It's something that I'm able to participate |
| 777 | 01:10:16 --> 01:10:24 | in, and it's one sided. Okay, wonderful. If you can see that we're above the new |
| 778 | 01:10:24 --> 01:10:28 | week opening gap, and we have new day opening gaps below the market at seven |
| 779 | 01:10:28 --> 01:10:32 | o'clock or eight o'clock or nine o'clock, at opening bell, then you know |
| 780 | 01:10:32 --> 01:10:37 | the weight of the market is going to be pressed to the downside. So the market's |
| 781 | 01:10:37 --> 01:10:44 | going to discover probe into discount, arrays that's something that's below the |
| 782 | 01:10:44 --> 01:10:50 | market price and or seek inefficiencies that are deep retracements into previous |
| 783 | 01:10:50 --> 01:10:56 | week's range, or just taking out short term lows that can be determined from a |
| 784 | 01:10:56 --> 01:10:59 | 15 minute selling frame. Okay, so |
| 785 | 01:11:00 --> 01:11:04 | as the market was trading on this candlestick right here, we opened down |
| 786 | 01:11:04 --> 01:11:10 | here after a down closed candle that closed below the opening price of that |
| 787 | 01:11:10 --> 01:11:15 | up close candle. Let me zoom in. Let me make sure you can see i |
| 788 | 01:11:23 --> 01:11:28 | So this opening price, all I need to do is see price trade below that, and on |
| 789 | 01:11:28 --> 01:11:31 | the time frame, I'm seeing this candlestick, which is the one minute |
| 790 | 01:11:31 --> 01:11:36 | chart that closing price right there validates this as a bearish order block. |
| 791 | 01:11:37 --> 01:11:44 | All I need to do is trade on an uptick. Well, the next candle we open below that |
| 792 | 01:11:44 --> 01:11:47 | open price. So I already have that filter, because it could open down here, |
| 793 | 01:11:48 --> 01:11:54 | or it could have opened above it. I want to see it open below this and then trade |
| 794 | 01:11:54 --> 01:12:02 | up. Where's my fill? See it at the opening price. It's opening and there's |
| 795 | 01:12:02 --> 01:12:06 | where it's opening, on this candle, and trades up. I'm selling short when the |
| 796 | 01:12:06 --> 01:12:12 | market's going up, okay, stop loss goes to rejection block, which is the close |
| 797 | 01:12:12 --> 01:12:17 | on the order block. So we have a little bit of heat here. Not much. What's it |
| 798 | 01:12:17 --> 01:12:23 | trading to the initial buy side liquidity. That's these relative equal |
| 799 | 01:12:23 --> 01:12:27 | highs goes there too. So I know I can, I can absorb a little bit of heat. It's |
| 800 | 01:12:27 --> 01:12:30 | going to come back and use this information back there, because there is |
| 801 | 01:12:30 --> 01:12:34 | an algorithm. I know you don't like to hear it, but I'm going to prove it to |
| 802 | 01:12:34 --> 01:12:40 | you every day. And the market trades again lower, and then we have a gap in |
| 803 | 01:12:40 --> 01:12:46 | here. So again, as I teach, you're not using the wick of that candlestick right |
| 804 | 01:12:46 --> 01:12:49 | there. You're using the body's clothes. Why? Because it's different. Then |
| 805 | 01:12:49 --> 01:12:52 | there's a separation to the next candles opening. So there's a volume imbalance |
| 806 | 01:12:52 --> 01:12:58 | there. So you have to incorporate that with your measurement of your gap. And |
| 807 | 01:12:58 --> 01:13:01 | then by doing that, you'll get a true consequent encroachment level, which is |
| 808 | 01:13:01 --> 01:13:06 | what you see all these candlesticks touching here, right in here. Now, truth |
| 809 | 01:13:06 --> 01:13:10 | be told, this is the part where you're going to if you don't like me, or if |
| 810 | 01:13:10 --> 01:13:16 | you're looking for something to do, the gotcha stuff, or, Oh, he's lying here. I |
| 811 | 01:13:16 --> 01:13:20 | had Piper sitting to the left of me in my morning room, and I had my laptop on |
| 812 | 01:13:20 --> 01:13:27 | me, and I was trying to draw all this stuff on here, and then I had my cursor |
| 813 | 01:13:27 --> 01:13:33 | sitting right over here, just like that. And I was moving her and her claws, |
| 814 | 01:13:33 --> 01:13:37 | which I have to trim them back on her, her front paws. I didn't get a chance to |
| 815 | 01:13:37 --> 01:13:40 | finish her last week when we were doing a pause and got her back done. But she |
| 816 | 01:13:40 --> 01:13:44 | she doesn't like to have it done, so I had to wait. Well, they were stabbing |
| 817 | 01:13:44 --> 01:13:47 | into me, and she was pouncing on because she don't want the other puppies to get |
| 818 | 01:13:47 --> 01:13:50 | near me. And I know this is probably boring you, but long story short, |
| 819 | 01:13:50 --> 01:13:55 | because I was pushing her away, I use a mouse pad my laptop like I don't have an |
| 820 | 01:13:55 --> 01:14:01 | external like mouse. It's like a touch pad. I prefer them. I like them. I don't |
| 821 | 01:14:01 --> 01:14:05 | like external mouse. I don't like it. It's just way it is. I have to use it, |
| 822 | 01:14:05 --> 01:14:09 | obviously, when I'm using my my screens upstairs, but if I'm talking to you, if |
| 823 | 01:14:09 --> 01:14:13 | I'm executing or managing something on the laptop, I prefer I don't have a |
| 824 | 01:14:13 --> 01:14:18 | little mouse that's external. When I pushed her away, I ended up touching the |
| 825 | 01:14:19 --> 01:14:22 | pad and put me in there. And I had to, had to deal with it, had to accept it. |
| 826 | 01:14:22 --> 01:14:27 | And there's no logic in here that justifies that fill, except for I pushed |
| 827 | 01:14:27 --> 01:14:32 | the pad without wanting to do so. But the trade is still viable. I know that |
| 828 | 01:14:32 --> 01:14:36 | it's giving me the information I want to see, because look at the wicks here. It |
| 829 | 01:14:36 --> 01:14:40 | only goes above it by one tick. It only goes above it by one tick. Okay, |
| 830 | 01:14:40 --> 01:14:44 | wonderful. The bodies are proving to me that we're only really respecting the |
| 831 | 01:14:44 --> 01:14:50 | lower half of this gap. See that. Let me take the let me take the thing. I'll put |
| 832 | 01:14:50 --> 01:14:55 | it right back on in a second. Give me a moment. You see how the bodies are |
| 833 | 01:14:55 --> 01:15:00 | showing how it's just respecting the lower half. You want to see. My PD |
| 834 | 01:15:00 --> 01:15:03 | arrays and my inefficiencies and fair value gaps, whether it be sell side and |
| 835 | 01:15:03 --> 01:15:09 | balance buy side efficiency or buy side and balance cell sign efficiency, you |
| 836 | 01:15:09 --> 01:15:13 | want to see half of them not respected, because that in itself is insight. |
| 837 | 01:15:13 --> 01:15:17 | That's how you know the algorithm is doing exactly what you want it to do. |
| 838 | 01:15:17 --> 01:15:20 | See when I talk about signatures and price and what the algorithm is doing, |
| 839 | 01:15:20 --> 01:15:23 | what the algorithm is doing, what the algorithm is doing this, and when the |
| 840 | 01:15:23 --> 01:15:27 | algorithm is doing that. It sounds like bullshit, if you don't want to believe |
| 841 | 01:15:27 --> 01:15:30 | there's an algorithm, but then when you start seeing me execute and it's the |
| 842 | 01:15:30 --> 01:15:33 | same logic repeating over and over again, or I'm calling individual |
| 843 | 01:15:33 --> 01:15:36 | candlesticks, then suddenly you're met with an argument that you have to |
| 844 | 01:15:36 --> 01:15:39 | contend with. I don't give two shits if you believe there's an algorithm, I'm |
| 845 | 01:15:39 --> 01:15:43 | enjoying the fact that I'm rubbing your nose in it. But there are times where |
| 846 | 01:15:44 --> 01:15:49 | these inefficiencies will come back entirely, close in and still go lower. I |
| 847 | 01:15:49 --> 01:15:53 | do not like that. I don't like to see that in my trades. I don't like to see |
| 848 | 01:15:53 --> 01:15:58 | that in a trade that I'm waiting to see form. And for instance, say, I'm trying |
| 849 | 01:15:58 --> 01:16:05 | to anticipate this as a return, back up into it to go short, which is what I was |
| 850 | 01:16:05 --> 01:16:09 | wanting to do. I really wanted to execute as it hit this. That's what I |
| 851 | 01:16:09 --> 01:16:13 | want. I wanted consequent encouragement. I really wanted that fill but because |
| 852 | 01:16:14 --> 01:16:17 | I'm allowing the dog, and I talked about this last week when I don't let him up |
| 853 | 01:16:17 --> 01:16:22 | in my trading office, but I'm down here being with them. Otherwise, if she's not |
| 854 | 01:16:22 --> 01:16:27 | in the house, my wife and the we only have my youngest living with me and my |
| 855 | 01:16:27 --> 01:16:33 | nieces. So if they're not here with her, they're going to howl and cry trying to |
| 856 | 01:16:33 --> 01:16:36 | get my attention. And that's going to be distracting. You'll hear them in the |
| 857 | 01:16:36 --> 01:16:39 | background. I won't be able to mute them, because they're going to be |
| 858 | 01:16:39 --> 01:16:43 | howling because they want to be with me. Piper is the one that loves me the most, |
| 859 | 01:16:43 --> 01:16:47 | and she's trying to get on my lap. And I pushed the laptop and her away, and I |
| 860 | 01:16:47 --> 01:16:52 | did and executed one. I said, crap. So that's what that feel was in in here. It |
| 861 | 01:16:52 --> 01:16:56 | was not me trying to get into a trade based on any kind of logic. It was just |
| 862 | 01:16:56 --> 01:16:59 | one of those things that happened in real life. Okay, it's going to happen to |
| 863 | 01:16:59 --> 01:17:06 | you, but when it does, what do you do in the beginning, if you don't know these |
| 864 | 01:17:06 --> 01:17:09 | things, if you don't know how to trade and hold on to a trade or trust a logic, |
| 865 | 01:17:09 --> 01:17:13 | as soon as you realize you did something that you shouldn't have done your best, |
| 866 | 01:17:14 --> 01:17:21 | learning curve to experience is to close that trade and then see All right, this |
| 867 | 01:17:21 --> 01:17:25 | is how I would still manage it. And what has it done? It completely disarms you. |
| 868 | 01:17:25 --> 01:17:29 | You don't have the weight of it has to be right? It has to pan out in your |
| 869 | 01:17:29 --> 01:17:33 | favor. Because now you're stressing about, oh, I got into a trade where I |
| 870 | 01:17:34 --> 01:17:40 | partially pyramided another position size in this trade idea, and now I'm |
| 871 | 01:17:40 --> 01:17:46 | worried about this is a mistake versus watching what is price doing? Okay? So |
| 872 | 01:17:46 --> 01:17:49 | the signature is, is you want to see the upper half when you're looking at a city |
| 873 | 01:17:50 --> 01:17:56 | or a inversion fair value gap that should act as resistance, or if you are |
| 874 | 01:17:56 --> 01:18:04 | using a reclaimed fair value gap, that's a premium array, a premium array you |
| 875 | 01:18:04 --> 01:18:08 | want to see the upper half of the inefficiencies or gaps. You want to see |
| 876 | 01:18:08 --> 01:18:13 | them leave that open. That's how you know the algorithm is respecting number |
| 877 | 01:18:13 --> 01:18:17 | one, the PD array, and it's also telling you that you're going to see a |
| 878 | 01:18:17 --> 01:18:23 | measurable displacement in your favor. Now, right away, you should be getting |
| 879 | 01:18:23 --> 01:18:28 | this warm and fuzzy moment going over you right now, because that's the stuff, |
| 880 | 01:18:29 --> 01:18:36 | that's the stuff that I never wanted to teach. That's the stuff that is not |
| 881 | 01:18:36 --> 01:18:41 | printing in price. So it's not in it's not in your candlestick. You want to see |
| 882 | 01:18:41 --> 01:18:46 | the things that are not in the candlesticks materialize. That means |
| 883 | 01:18:46 --> 01:18:51 | where there's an inefficiency. Okay, how do I know when certain gaps are not |
| 884 | 01:18:51 --> 01:18:56 | going to fill? Oh, I go into everyone that I'm referring to with a hope that |
| 885 | 01:18:56 --> 01:19:00 | they're not going to fill. Because that's the algorithmic signature that I |
| 886 | 01:19:00 --> 01:19:04 | want to see in that now, if it goes up and trades to the top of it, then I need |
| 887 | 01:19:04 --> 01:19:08 | to see an immediate response and rejection there. And then it has to |
| 888 | 01:19:08 --> 01:19:13 | displace, and I won't touch it until it gives us another fair value gap on that |
| 889 | 01:19:13 --> 01:19:18 | time frame. Or in this case, it's a one minute chart. It has to be 15 seconds, |
| 890 | 01:19:18 --> 01:19:21 | 30 seconds, something to that effect. And then I won't use a fair value gap on |
| 891 | 01:19:21 --> 01:19:25 | that time frame, because I've already missed the rejection, but I waited and |
| 892 | 01:19:25 --> 01:19:29 | looked for it at the top of the fair value gap, and once it starts to |
| 893 | 01:19:29 --> 01:19:32 | displace lower, then I'll just get into a lower time frame and get in sync with |
| 894 | 01:19:32 --> 01:19:37 | it. And it's fine. I ain't worried about it. That's the price delivery continuum |
| 895 | 01:19:37 --> 01:19:41 | theory that I was introducing last week. I don't need to be in the entries based |
| 896 | 01:19:41 --> 01:19:45 | on the time frames I'm studying, if I miss it, because sometimes I'm just |
| 897 | 01:19:45 --> 01:19:51 | being a little stubborn, and I'm trying to be very finessing about where I'm |
| 898 | 01:19:52 --> 01:19:56 | trying to get in at I'm trying to impress either my son or some of you. |
| 899 | 01:19:57 --> 01:20:01 | Sometimes I won't get my fill, and then I have to I. Go and use a a lower time |
| 900 | 01:20:01 --> 01:20:06 | frame to get in sync with it. That's fine. It's very forgiving when you know |
| 901 | 01:20:06 --> 01:20:09 | what you're looking for. But that that was what that was okay. And then I have |
| 902 | 01:20:09 --> 01:20:15 | this inefficiency here, which also has this, what's this candlestick? What's |
| 903 | 01:20:15 --> 01:20:21 | this green candlestick? Right here it is a bearish order block, just like that |
| 904 | 01:20:21 --> 01:20:28 | one. So this opening price did this candle close below it once it passed |
| 905 | 01:20:28 --> 01:20:34 | through, yep. So that validates that as a bearish order block. So if I can see |
| 906 | 01:20:34 --> 01:20:38 | price create these areas where there's an inefficiency, and then I can label |
| 907 | 01:20:38 --> 01:20:41 | the very specific change in the state of delivery, which is what the opening |
| 908 | 01:20:41 --> 01:20:47 | price is on every quarter block. Then what I'll do is, I'm watching I'm not |
| 909 | 01:20:47 --> 01:20:53 | doing this physically. You should do it when you start studying price. What with |
| 910 | 01:20:53 --> 01:21:00 | these things in mind? When price starts to trade back up into it as it's trading |
| 911 | 01:21:00 --> 01:21:08 | into it. Okay, I'm going to hammer that as a short. I'm not going to worry about |
| 912 | 01:21:08 --> 01:21:16 | if it fills me with slippage at the low of the guy. I'm trying to get inside of |
| 913 | 01:21:16 --> 01:21:21 | this order block between its opening price and its low, but I have to trade |
| 914 | 01:21:21 --> 01:21:23 | it soon as it soon as it gets there the first time. |
| 915 | 01:21:24 --> 01:21:30 | I don't care how much heat and time I have once I get in it, because I know I |
| 916 | 01:21:30 --> 01:21:37 | have the framework of this right here, this gap and the midpoint of this |
| 917 | 01:21:37 --> 01:21:43 | candlestick, which is what mean threshold. Some of you said consequent |
| 918 | 01:21:43 --> 01:21:47 | encroachment. Consequent encroachment is a gap. Okay? Anytime there's a gap or |
| 919 | 01:21:47 --> 01:21:51 | inefficiency, the midpoint is consequent encroachment. If there's a specific |
| 920 | 01:21:51 --> 01:21:57 | range that's formed by the border block, singular candle, it's mean threshold. |
| 921 | 01:21:57 --> 01:22:00 | Okay, so the midpoint of that, essentially, it's around here, okay, so |
| 922 | 01:22:00 --> 01:22:06 | what is it doing? It goes right there. So it goes just outside the fair value |
| 923 | 01:22:06 --> 01:22:09 | gap. But I'm referring to the midpoint of that gap. How do you know how to |
| 924 | 01:22:09 --> 01:22:13 | place your stop losses where they're at? ICT, when you put those stop losses in, |
| 925 | 01:22:13 --> 01:22:16 | and you're putting it in, it looks like it's gonna get real close to it, but it |
| 926 | 01:22:16 --> 01:22:21 | never goes there. It's this type of stuff behind me. I'm I'm measuring all |
| 927 | 01:22:21 --> 01:22:26 | of the potential for the market to respect certain levels with this logic, |
| 928 | 01:22:27 --> 01:22:31 | and if it trades this to the top of the fair value gap, okay, what is it really |
| 929 | 01:22:31 --> 01:22:34 | reaching for? It's not that it has to go back to this. It's trading back to the |
| 930 | 01:22:34 --> 01:22:42 | order block because that's what starts this run lower. Notice that. So that |
| 931 | 01:22:42 --> 01:22:45 | takes us to the minor cell side liquidity here. Why is it a minor cell |
| 932 | 01:22:45 --> 01:22:50 | size? Because it's a low inside of this low to that high. When I think it's |
| 933 | 01:22:50 --> 01:22:54 | going to go down here, and I'm aiming down here in this layered cell side |
| 934 | 01:22:54 --> 01:22:59 | liquidity. And if it's going to go there, how far could it go? It can go |
| 935 | 01:22:59 --> 01:23:05 | down to the new weak opening gap, and if it expands through that, what's the next |
| 936 | 01:23:05 --> 01:23:14 | new day opening gap? It's August 9. Down here. As I told you, my interest in this |
| 937 | 01:23:15 --> 01:23:18 | is in the mid part of that. Would I've if I was still in the trade? Would I |
| 938 | 01:23:18 --> 01:23:24 | have captured this low No, and then trading down to this low. What I held on |
| 939 | 01:23:24 --> 01:23:28 | further? No, I'm not interested, because I understand what's forming. It's making |
| 940 | 01:23:28 --> 01:23:32 | the market jagged down here. It's enticing. People keep selling short. |
| 941 | 01:23:32 --> 01:23:38 | It's going to keep dropping. No, it's not. It's done its work. And then it |
| 942 | 01:23:38 --> 01:23:45 | trades down to last Friday's New Day, opening gap, and then shows a |
| 943 | 01:23:45 --> 01:23:48 | willingness to want to go higher, and then trades right back over top of all |
| 944 | 01:23:48 --> 01:23:54 | this. And here's where we're at. Notice I'm no longer interested if it trades at |
| 945 | 01:23:54 --> 01:23:59 | that level here. Why? Because I have rules, I have protocols, I have |
| 946 | 01:23:59 --> 01:24:05 | understanding, and I know when to stop. I need to stop. Pull the plug, and the |
| 947 | 01:24:05 --> 01:24:10 | market will still gyrate. Someone, someone could very well be long in here. |
| 948 | 01:24:10 --> 01:24:14 | Great. Did you understand that the market was going to do the sell off |
| 949 | 01:24:14 --> 01:24:20 | here? Did you participate in anything going short? There are you mad about not |
| 950 | 01:24:20 --> 01:24:24 | catching that initial run. See, these are all things that you're going to have |
| 951 | 01:24:24 --> 01:24:29 | to learn how to cope with and replace it with, instead of toxic thinking like |
| 952 | 01:24:29 --> 01:24:33 | that, saying, Okay, well, these are the things I've done correctly, and this is |
| 953 | 01:24:33 --> 01:24:37 | panning out for me, and I'm growing in my understanding, and I'm making |
| 954 | 01:24:37 --> 01:24:41 | progress. It may be monetary and it may not be monetary initially, maybe just in |
| 955 | 01:24:41 --> 01:24:46 | your experience, gaining each day and the week that you do these things that |
| 956 | 01:24:46 --> 01:24:50 | exercise and build in your understanding, or it may be demo profits |
| 957 | 01:24:50 --> 01:24:55 | that you're going to use as a means to lean on. Because when you first start |
| 958 | 01:24:55 --> 01:24:59 | trading with real money, when you take losing trades, what reference Do you |
| 959 | 01:24:59 --> 01:25:03 | have? You haven't made a run of profitable trades. What experience do |
| 960 | 01:25:03 --> 01:25:07 | you have to lean on to encourage yourself the demo trading where you did |
| 961 | 01:25:07 --> 01:25:12 | it right? You need to find the sugar in it, otherwise it's going to be hard for |
| 962 | 01:25:12 --> 01:25:16 | you to stick with it. It's so easy to quit this industry, very, very easy to |
| 963 | 01:25:16 --> 01:25:20 | quit it. There's so many things that's going to cause you to second guess |
| 964 | 01:25:20 --> 01:25:24 | yourself, doubt it, and just the work ethic that's required is going to keep |
| 965 | 01:25:24 --> 01:25:27 | most of you from ever becoming profitable. And it's not because you |
| 966 | 01:25:27 --> 01:25:29 | don't have a good mentor. It's not because you don't have concepts being |
| 967 | 01:25:29 --> 01:25:34 | taught to you that are useful. It's because you aren't ready. That's really |
| 968 | 01:25:34 --> 01:25:43 | what it is. But anyway, the the gravitational brawl on price or based on |
| 969 | 01:25:43 --> 01:25:48 | the watches I gave you last week. So again, I tipped my hand to you last week |
| 970 | 01:25:48 --> 01:25:55 | in a grand level every single time I was on Twitter, every single time I am in |
| 971 | 01:25:55 --> 01:25:58 | other people's live streams, and I'm pointing to specific levels. This is the |
| 972 | 01:25:58 --> 01:26:03 | logic I'm using. I said it last week. I'm saying it again here. I am trying to |
| 973 | 01:26:03 --> 01:26:09 | tell you, with no uncertain terms, that this is such a huge advantage. Some of |
| 974 | 01:26:09 --> 01:26:14 | you already know. I mean, you sent me emails and whatnot saying, This is wild, |
| 975 | 01:26:14 --> 01:26:17 | like, this is like, this is really, like, I can see it now, right? And |
| 976 | 01:26:17 --> 01:26:20 | that's how it should be, but you're still going to do it wrong eventually, |
| 977 | 01:26:20 --> 01:26:23 | and then you're going to get mad and you're going to try to do something to |
| 978 | 01:26:23 --> 01:26:28 | fix that one day problem, that one day error that you caused in your own hands. |
| 979 | 01:26:28 --> 01:26:34 | And then that's going to create a toxic response to you being responsive to an |
| 980 | 01:26:34 --> 01:26:38 | emotional or psychological impact of you doing it wrong. You don't want to go |
| 981 | 01:26:38 --> 01:26:41 | home with a losing trade. You're going to hire her and try to fix it, or you |
| 982 | 01:26:41 --> 01:26:44 | got a little bit of a drawdown, or you got in a trade, you didn't take a |
| 983 | 01:26:44 --> 01:26:47 | partial, and then you're mad because you'd let it turn back on you, and it's |
| 984 | 01:26:47 --> 01:26:51 | a small loss, or the full loss, because you didn't need a stop loss, and it's |
| 985 | 01:26:51 --> 01:26:56 | going to cause you to want to do something to fix it. And my advice to |
| 986 | 01:26:56 --> 01:27:01 | you is, don't go home with the loss. Realize it, take it home, sleep on it |
| 987 | 01:27:01 --> 01:27:06 | and feel what it feels like. And you're going to find out, unless the Lord says |
| 988 | 01:27:06 --> 01:27:10 | no, the sun's going to come up tomorrow, the market's going to be trading, and |
| 989 | 01:27:10 --> 01:27:17 | this stuff will still be in the charts. But something happens where we lose all |
| 990 | 01:27:17 --> 01:27:23 | rational thinking and we just go nuts. And they call it tilt, where you just |
| 991 | 01:27:23 --> 01:27:27 | completely, just are out of your mind, and you're just trying to do anything, |
| 992 | 01:27:27 --> 01:27:30 | and you don't even know why you're getting in a trade, and all of a sudden |
| 993 | 01:27:31 --> 01:27:35 | you cause severe drawdown, or blow the account, or lose the funded account, or |
| 994 | 01:27:35 --> 01:27:42 | fail the combine. I see this so many times, so many individuals out there |
| 995 | 01:27:42 --> 01:27:45 | that they're in other people's live streams. They're saying, Oh, I just blew |
| 996 | 01:27:45 --> 01:27:50 | my account again. Or the live streamers themselves are blowing their accounts, |
| 997 | 01:27:50 --> 01:27:53 | and they're showing you new accounts that they just started up because |
| 998 | 01:27:53 --> 01:27:56 | they're not consistently holding on to the same ones. But there's people |
| 999 | 01:27:56 --> 01:28:01 | flocking to them watching that, and their only real interest is, is they're |
| 1000 | 01:28:01 --> 01:28:06 | going to give out a discounted affiliate link, not that they can trade, not that |
| 1001 | 01:28:06 --> 01:28:09 | they have any useful information coming out of their mouth. Is it? Give us a |
| 1002 | 01:28:09 --> 01:28:16 | code. Give us a discount code. I'm not going to do that. I'm trying to give you |
| 1003 | 01:28:16 --> 01:28:19 | the how to do this on your own, so that way you don't have to watch anybody live |
| 1004 | 01:28:19 --> 01:28:23 | streaming. And this is no knock against anybody else, but that's why I teach. I |
| 1005 | 01:28:23 --> 01:28:27 | teach people to be their own independent thinker. But there's also going to be a |
| 1006 | 01:28:27 --> 01:28:32 | big, huge crowd of new people going to watch other people doing it. I watch |
| 1007 | 01:28:32 --> 01:28:35 | other people do it. I don't ever take a trade with another live stream or doing |
| 1008 | 01:28:35 --> 01:28:38 | something that I think, well, that's a good idea. I didn't see that coming. Let |
| 1009 | 01:28:38 --> 01:28:43 | me, let me join in and do their trade. I don't do that. I'm never doing that. I'm |
| 1010 | 01:28:43 --> 01:28:49 | there looking for their crowd, their cheerleaders in the chat window. I want |
| 1011 | 01:28:49 --> 01:28:52 | to see their response, and if it's diametrically opposed to the things I'm |
| 1012 | 01:28:52 --> 01:28:57 | teaching you here, well, guess what that means? It's Candy Land. It's literally |
| 1013 | 01:28:57 --> 01:29:00 | like walking over to a candy I mean, I'm walking over to a baby and taking the |
| 1014 | 01:29:00 --> 01:29:04 | candy out of its hand. I know they're going to cry. I know they're going to |
| 1015 | 01:29:04 --> 01:29:08 | squeal and whine and say, You're a jerk. ICT, you called it right, and I lost |
| 1016 | 01:29:08 --> 01:29:11 | money, so now I'm going to troll you. I'm going to do this. I'm going to do |
| 1017 | 01:29:11 --> 01:29:14 | that. And when they watch other people, it didn't necessarily have to be my |
| 1018 | 01:29:14 --> 01:29:17 | stuff, but other people that had the balls and the Moxie to stand out there |
| 1019 | 01:29:17 --> 01:29:20 | and tell the world what they're doing and trade and push the button in front |
| 1020 | 01:29:20 --> 01:29:24 | of other people, I got a lot of respect for that. Respect for that, but they get |
| 1021 | 01:29:24 --> 01:29:28 | trolled. They get trolled for doing something the people that are trolling |
| 1022 | 01:29:28 --> 01:29:34 | them can't do or would never do, and they're miserable. But I love that, |
| 1023 | 01:29:34 --> 01:29:39 | because that proves that I'm going to get an emotional sentiment reading by |
| 1024 | 01:29:39 --> 01:29:43 | that group of people and when they have trolls in their comment section, and |
| 1025 | 01:29:43 --> 01:29:47 | other people are biting back at those trolls, and they're saying, the market's |
| 1026 | 01:29:47 --> 01:29:49 | going to go here, and the market's going, what did they do? They |
| 1027 | 01:29:49 --> 01:29:55 | emotionally wagered they've committed themselves. So I'm literally teaching |
| 1028 | 01:29:55 --> 01:30:00 | you how I use other live streamers chat window, and my my point. I'm telling you |
| 1029 | 01:30:00 --> 01:30:04 | this is start looking at it when, when it does these types of things, when you |
| 1030 | 01:30:04 --> 01:30:10 | start seeing it, okay? It's the perfect sentiment indicator when people are |
| 1031 | 01:30:10 --> 01:30:16 | showing you their hand, and it's emotionally driven and it's a lot of |
| 1032 | 01:30:16 --> 01:30:22 | emojis, or it's very, very pointed language against someone or the market, |
| 1033 | 01:30:23 --> 01:30:27 | they're telling you that they are completely letting go of the steering |
| 1034 | 01:30:27 --> 01:30:33 | wheel, closing their eyes and flooring the gas pedal. And if they're saying |
| 1035 | 01:30:33 --> 01:30:38 | that the market is going to go up, and I'm anticipating it going down, and that |
| 1036 | 01:30:38 --> 01:30:43 | criteria is there, and it's uncanny, they're doing that right when it's |
| 1037 | 01:30:43 --> 01:30:46 | trading into a fair value gap, or it's trading right above a short term high. |
| 1038 | 01:30:46 --> 01:30:52 | That should be upsetting buy SOPs, and they're bullish. I'm going long. I'm |
| 1039 | 01:30:52 --> 01:30:55 | long now I'm long 15 contracts. What are they telling you? They're traded with |
| 1040 | 01:30:55 --> 01:30:58 | the funded account. They're not passed the funded account yet, and they're |
| 1041 | 01:30:58 --> 01:31:04 | trying to make it all in that one trade. Perfect. Perfect. That is the perfect |
| 1042 | 01:31:04 --> 01:31:08 | scenario for ICT as a sentiment indicator, because now I'm going short, |
| 1043 | 01:31:11 --> 01:31:15 | but everything I'm doing behind the scenes is what I've been teaching you. |
| 1044 | 01:31:15 --> 01:31:16 | Last week. |
| 1045 | 01:31:17 --> 01:31:22 | My son, Caleb, sits here and watches me do this. Okay? And I'll say it's fine. |
| 1046 | 01:31:22 --> 01:31:25 | It's going to do this. See. Do that, it's going to hit this candle. And he's |
| 1047 | 01:31:25 --> 01:31:29 | like, man, like it's literally doing everything right? I don't know why |
| 1048 | 01:31:29 --> 01:31:35 | you're surprised. I'm your dad's ICT, right? And when I watch other people, |
| 1049 | 01:31:36 --> 01:31:39 | and they're just staring at the charts, they don't know what they're looking |
| 1050 | 01:31:39 --> 01:31:43 | for, and they're talking and they're talking and they're talking when there's |
| 1051 | 01:31:43 --> 01:31:48 | opportunities, there's really opportunities right there. And then when |
| 1052 | 01:31:48 --> 01:31:54 | I'm in their chat and I say, you note this buy side, or note this sell side, |
| 1053 | 01:31:54 --> 01:31:57 | I've literally told you where the market's going to go. And you can use |
| 1054 | 01:31:57 --> 01:32:02 | any retail logic entry pattern after that to get in sync with it and write it |
| 1055 | 01:32:02 --> 01:32:07 | up there or write it down there. That's, that's what I'm doing. But what was I |
| 1056 | 01:32:07 --> 01:32:10 | doing to come to those conclusions? What I taught last week and what you saw here |
| 1057 | 01:32:10 --> 01:32:16 | today, now, when I, when I get stopped out, and you watch me get stopped out in |
| 1058 | 01:32:16 --> 01:32:20 | profit, it was not a loss. It's just I wasn't able to stay on the trade the |
| 1059 | 01:32:20 --> 01:32:26 | entire tire run. Do I go back in and rush and get mad? Try to get back? No, I |
| 1060 | 01:32:26 --> 01:32:31 | don't need to save face. I don't need to fix a problem. There's no problem. I |
| 1061 | 01:32:31 --> 01:32:35 | understand that the mechanics on a day like today, ahead of CPI and PPI numbers |
| 1062 | 01:32:35 --> 01:32:40 | back to back, Tuesday and Wednesday. It's a Monday. I didn't have TGIF |
| 1063 | 01:32:40 --> 01:32:43 | deliver on Friday. Okay, then it's going to be deferred. It's going to retrace |
| 1064 | 01:32:43 --> 01:32:48 | back into the range during Monday's trading, especially if we open up at |
| 1065 | 01:32:48 --> 01:32:55 | seven o'clock in the morning here and we punch above the marketplace to upset |
| 1066 | 01:32:55 --> 01:33:06 | what relative equal highs here. Where was that? Formed in London. So I know |
| 1067 | 01:33:06 --> 01:33:10 | that it's probable that it's going to go up there. It doesn't need to. All it |
| 1068 | 01:33:10 --> 01:33:13 | needed to do was trade above these relative equal highs, because that's |
| 1069 | 01:33:13 --> 01:33:17 | what formed after seven o'clock in the morning. Just like I taught last week, |
| 1070 | 01:33:18 --> 01:33:21 | the rules are not morphing. I'm not changing, I'm not cherry picking |
| 1071 | 01:33:21 --> 01:33:27 | anything. Everything is the same thing every single day, and that's exactly |
| 1072 | 01:33:27 --> 01:33:30 | what your trading has to be. If you're trying to change settings and you're |
| 1073 | 01:33:30 --> 01:33:34 | optimizing bullshit because you know you got you're trying to look good in front |
| 1074 | 01:33:34 --> 01:33:38 | of other people. If you're constantly optimizing, you have substandard |
| 1075 | 01:33:38 --> 01:33:45 | bullshit. It's seven o'clock cooks. You know, seven o'clock isn't changing when |
| 1076 | 01:33:45 --> 01:33:48 | it's seven o'clock, it does when you go to different time frames or time zones |
| 1077 | 01:33:48 --> 01:33:52 | in the world. But I've already told everybody, calibrate. Everybody's |
| 1078 | 01:33:52 --> 01:33:58 | calendar, everyone's clock, everyone's charts, have to be ICT time. It's the |
| 1079 | 01:33:58 --> 01:34:03 | same ICT time, it's the same ICT fucking channel. Everything's going to be the |
| 1080 | 01:34:03 --> 01:34:07 | same thing every single day. You're not trying to reinvent the wheel. You're not |
| 1081 | 01:34:07 --> 01:34:10 | trying to make it better. You're not trying to optimize. You're not trying to |
| 1082 | 01:34:10 --> 01:34:15 | change settings. There's no fucking settings. Do you understand the value in |
| 1083 | 01:34:15 --> 01:34:20 | that? At seven o'clock, you're going to delineate that is a marking point, and |
| 1084 | 01:34:20 --> 01:34:22 | then you're going to wait for relative equal highs and relative equal low |
| 1085 | 01:34:22 --> 01:34:28 | relative equal lows in that fucking delicious isn't that delicious that it's |
| 1086 | 01:34:28 --> 01:34:32 | not going to hide from you. They cannot hide it from you. How are they gonna |
| 1087 | 01:34:32 --> 01:34:37 | keep seven o'clock from hiding? They're somehow gonna hide seven o'clock like |
| 1088 | 01:34:37 --> 01:34:41 | you can't look at the fucking time on your watch that's set to New York local |
| 1089 | 01:34:41 --> 01:34:45 | time, you're somehow going to forget that seven o'clock is on the front of |
| 1090 | 01:34:45 --> 01:34:50 | the face of the clock. They can't hide that. Then what are you waiting for? |
| 1091 | 01:34:50 --> 01:34:53 | You're waiting for relative equal highs and lows to form, and you're waiting for |
| 1092 | 01:34:53 --> 01:34:59 | them to be breached. And here's the thing, if they have the market in a |
| 1093 | 01:34:59 --> 01:35:07 | premium. Oh, you were talking about that in those internship videos. Michael, |
| 1094 | 01:35:08 --> 01:35:13 | could you peel back that onion a little bit more? Sure? Sure I can. Last week, I |
| 1095 | 01:35:13 --> 01:35:19 | told you, if we're in the time of day, seven o'clock, eight o'clock and nine in |
| 1096 | 01:35:21 --> 01:35:27 | there, you're looking for relative equal highs to form, if listen, if we're above |
| 1097 | 01:35:28 --> 01:35:33 | new week opening gap and clustering of New Day opening gaps, all of last week's |
| 1098 | 01:35:33 --> 01:35:40 | New Day opening gaps, where are they? In proximity to where we are here? Where |
| 1099 | 01:35:40 --> 01:35:45 | are they? Where's price in relationship to this week's new week opening up at |
| 1100 | 01:35:45 --> 01:35:50 | seven o'clock, we're above it. The previous new week's opening got we're |
| 1101 | 01:35:50 --> 01:35:57 | above it. So the algorithm is going to do what it's going to seek fair value in |
| 1102 | 01:35:57 --> 01:36:05 | a discount. So how can it mathematically and use time go back to a random fucking |
| 1103 | 01:36:05 --> 01:36:16 | point, unless it has a very specific reach to time, date, day of week, week |
| 1104 | 01:36:16 --> 01:36:23 | of month, month of year. And where are these inefficiencies when time of |
| 1105 | 01:36:23 --> 01:36:34 | trading begins and ends? Oh, my, oh my, that's delicious, isn't it? My dogs like |
| 1106 | 01:36:34 --> 01:36:40 | it. Hang on. I think it's probably Amazon. Give me one second. I |
| 1107 | 01:37:19 --> 01:37:23 | i gotta tell you, really I enjoy these live streams because I don't have to go |
| 1108 | 01:37:23 --> 01:37:27 | back and edit anything. And I'm really loving this new ICT where I'm not |
| 1109 | 01:37:27 --> 01:37:34 | worried about, you know, a little quirky things that used to bother me. So |
| 1110 | 01:37:34 --> 01:37:39 | anyway, when we have these, these signatures I outlined last week, and we |
| 1111 | 01:37:39 --> 01:37:46 | start at predetermined price times, price times, times of the day, which are |
| 1112 | 01:37:46 --> 01:37:51 | what I gave you last week. We're measuring. We're waiting. What are you |
| 1113 | 01:37:51 --> 01:37:56 | waiting for? ICT, at seven o'clock. What are we looking for? Well, you're looking |
| 1114 | 01:37:56 --> 01:38:06 | for a directional run. Okay? And if we are starting at seven o'clock here, and |
| 1115 | 01:38:06 --> 01:38:10 | we have the new week opening gap for this particular week of trading, which |
| 1116 | 01:38:10 --> 01:38:14 | forms on August 11, Sunday's opening price relative to Friday's closing |
| 1117 | 01:38:14 --> 01:38:21 | price, if we're above that, that's one check box that is likely to displace and |
| 1118 | 01:38:21 --> 01:38:25 | move and deliver, sell side delivery. That means it's going to enter a cell |
| 1119 | 01:38:25 --> 01:38:28 | program. It means it's going to drop. The price is going to have a sustained |
| 1120 | 01:38:28 --> 01:38:36 | price run lower. It's further likely to occur if you have new day opening gaps |
| 1121 | 01:38:36 --> 01:38:42 | clustering below where price starts at seven o'clock. Well, you have your |
| 1122 | 01:38:42 --> 01:38:47 | Friday New Day opening gap and all the ones below it, and then you have last |
| 1123 | 01:38:47 --> 01:38:55 | week's previous new week opening gap down here. See that? So that's likely to |
| 1124 | 01:38:55 --> 01:39:02 | draw down into these levels. Wonderful. So now you have the first elements to |
| 1125 | 01:39:02 --> 01:39:07 | building your understanding of bias. So you're not looking to go long. Even if |
| 1126 | 01:39:07 --> 01:39:12 | the market springs higher and takes off it has a real huge dynamic price run. |
| 1127 | 01:39:12 --> 01:39:18 | I'm not thinking I'm probably wrong. I'm waiting for that to fizzle and run out, |
| 1128 | 01:39:18 --> 01:39:26 | which is going to occur above old highs that formed after seven o'clock. So I'm |
| 1129 | 01:39:26 --> 01:39:30 | waiting for relative equal highs to form, and then I'm waiting for price to |
| 1130 | 01:39:30 --> 01:39:38 | pierce above it. When that happens, I'm not afraid. I'm literally high on |
| 1131 | 01:39:38 --> 01:39:43 | goofballs. I'm looking for the opportunity to see the price go below, |
| 1132 | 01:39:43 --> 01:39:48 | and it does right there that validates that as a bearish order block, not |
| 1133 | 01:39:48 --> 01:39:55 | because it traded above London's high. That's not it. It's not it ran stops |
| 1134 | 01:39:56 --> 01:40:00 | above London's high. So now someone's going to call the fucking the. They what |
| 1135 | 01:40:00 --> 01:40:04 | they call the fu candle. It's an institutional candle. You fucking |
| 1136 | 01:40:04 --> 01:40:07 | clowns. There's no such thing as an institutional candle, okay? You fucking |
| 1137 | 01:40:07 --> 01:40:11 | multi, multi level marketing mother fuckers. You liars, man, you're fucking |
| 1138 | 01:40:11 --> 01:40:14 | liars. Come out here and call every fucking candle like I do. Do that. Then |
| 1139 | 01:40:14 --> 01:40:18 | you'll have, then you'll prove that you have something hindsight. Motherfuckers, |
| 1140 | 01:40:19 --> 01:40:26 | relative equal eyes, okay? It goes above that and then shows me. It proves to me |
| 1141 | 01:40:27 --> 01:40:31 | that this change in the state of delivery, that opening price on that |
| 1142 | 01:40:31 --> 01:40:36 | candle, I want to be at that price, or between the low that candles, wick on |
| 1143 | 01:40:36 --> 01:40:39 | that candle anywhere near that's my sweet spot. That's where I'm trying to |
| 1144 | 01:40:39 --> 01:40:45 | trade. But my risk has to be defined as much as the midpoint or mean threshold |
| 1145 | 01:40:45 --> 01:40:53 | of that order block. It does not need to be up here. Man, this is some good shit. |
| 1146 | 01:40:53 --> 01:40:59 | ICT, damn, this is good. Yes, I'm cooking out all week. Come back. I got |
| 1147 | 01:40:59 --> 01:41:04 | some good shit coming. But that opening price, that's my entry on that candle. I |
| 1148 | 01:41:04 --> 01:41:09 | don't have them up here doing, sorry, I'm sitting here acting like you can see |
| 1149 | 01:41:10 --> 01:41:16 | the prices again. Here's the opening price, and that's the fill. Okay, that's |
| 1150 | 01:41:16 --> 01:41:20 | the logic being used. And then in here, that's this human error pushing the |
| 1151 | 01:41:20 --> 01:41:24 | button. And I was looking at Piper, thinking, man, you're messing up a |
| 1152 | 01:41:24 --> 01:41:29 | perfect illustration today, but I love her anyway. And then the market trades |
| 1153 | 01:41:29 --> 01:41:32 | with this fair Vega, and we have this order block as well. So the opening |
| 1154 | 01:41:32 --> 01:41:38 | price on an up close candle, when the market is in a sell program, that means |
| 1155 | 01:41:38 --> 01:41:43 | there's going to be sell side delivery. That means the market's going to be in a |
| 1156 | 01:41:43 --> 01:41:49 | protracted delivery lower. It's moving lower. It's going down for a specific |
| 1157 | 01:41:49 --> 01:41:55 | reason, for inefficiencies that are in a discount and or sell stops, which is |
| 1158 | 01:41:55 --> 01:42:01 | sell side liquidity. So what does that mean? I want to be selling short when |
| 1159 | 01:42:01 --> 01:42:09 | the market returns into any inefficiency or up at the butt end of an up close |
| 1160 | 01:42:09 --> 01:42:15 | candle, because that's a bearish order block. Okay, so we have this candlestick |
| 1161 | 01:42:15 --> 01:42:21 | right there. You see that? Look at that. Phil, what's it doing? I'm going to use |
| 1162 | 01:42:21 --> 01:42:26 | the lowest threshold entry, the easy one, the one I know I'm going to get. |
| 1163 | 01:42:26 --> 01:42:30 | I'm not going to worry about not getting it because of a limit order not filling. |
| 1164 | 01:42:30 --> 01:42:34 | What is it? It's the low of that fair value gap on that city right there, |
| 1165 | 01:42:35 --> 01:42:39 | right here, this candlestick right there, defined by this candle sticks |
| 1166 | 01:42:39 --> 01:42:44 | high. I want to use that candlesticks high. I'm using that as my point of |
| 1167 | 01:42:44 --> 01:42:49 | reference to get into the trade, knowing full well that this candlestick right |
| 1168 | 01:42:49 --> 01:42:57 | here is a bearish order block, but I have to afford myself the likelihood of |
| 1169 | 01:42:57 --> 01:43:06 | it touching this fair value gap. Again, notice that. So am I going to adjust the |
| 1170 | 01:43:06 --> 01:43:10 | stop loss? Because this fare back got formed and I went in here and added |
| 1171 | 01:43:10 --> 01:43:15 | more. Am I going to roll the stop loss aggressively, because it's it's afforded |
| 1172 | 01:43:15 --> 01:43:21 | me another entry? No. And when I add to it here, am I going to trade and |
| 1173 | 01:43:21 --> 01:43:26 | aggressively lower my stop loss simply because I went into a trade. No, I have |
| 1174 | 01:43:26 --> 01:43:31 | to then wait for the market to roll out of this after it's proven it's it's |
| 1175 | 01:43:31 --> 01:43:35 | doing what I wanted to do. The bodies are being kept at the high of that fair |
| 1176 | 01:43:35 --> 01:43:40 | value gap right there, and essentially the midpoint of this order block, which |
| 1177 | 01:43:40 --> 01:43:45 | is mean threshold. So first time hearing this, if you're a first time viewer, |
| 1178 | 01:43:45 --> 01:43:48 | right away, this is bullshit to you, and you're going and looking for overall |
| 1179 | 01:43:48 --> 01:43:51 | oversold indicators and moving average, that's you're looking for. You're |
| 1180 | 01:43:51 --> 01:43:55 | looking for a signal service. And I want you to leave, because I have no interest |
| 1181 | 01:43:55 --> 01:44:00 | in dealing with people that are like that. I want to bring you quickly. Okay, |
| 1182 | 01:44:00 --> 01:44:05 | when I teach, I'm going to filter out the chaff, because if you really want to |
| 1183 | 01:44:05 --> 01:44:08 | learn how to do this, you're taking notes, you're listening, and you're |
| 1184 | 01:44:08 --> 01:44:11 | listening for logic that repeats, and you're going to fucking hear me say this |
| 1185 | 01:44:11 --> 01:44:14 | at nauseam. It's going to repeat a lot. You repeat yourself so much, go fuck |
| 1186 | 01:44:14 --> 01:44:18 | yourself. Comment, boy, because I'm teaching, I want to prove that what I'm |
| 1187 | 01:44:18 --> 01:44:23 | doing is a repeating logic. It's a repeating logic that you have to have |
| 1188 | 01:44:23 --> 01:44:27 | ingrained in your understanding and when you're watching price because if it's |
| 1189 | 01:44:27 --> 01:44:31 | not part of your intellect, if it's not part of your vernacular, if it's not |
| 1190 | 01:44:31 --> 01:44:35 | part of your daily technical vocabulary, then you're gonna fucking fail, aren't |
| 1191 | 01:44:35 --> 01:44:40 | you? But guess what? If I'm constantly bloviating on about how this is, this is |
| 1192 | 01:44:40 --> 01:44:44 | what it is, and this is what it isn't, this is what it is, and this is what it |
| 1193 | 01:44:44 --> 01:44:47 | isn't, and it's never changing. It's never morphing. And then something new, |
| 1194 | 01:44:48 --> 01:44:52 | then it's scientifically proven. Nine out of 10 doctors will fucking approve |
| 1195 | 01:44:52 --> 01:44:57 | the ice. He's got his shit together, and it's gonna repeat. So therefore you have |
| 1196 | 01:44:57 --> 01:45:01 | no excuse not to be doing this stuff and observing it. And logging it and looking |
| 1197 | 01:45:01 --> 01:45:04 | for these signatures to be in price action. That's the experience that |
| 1198 | 01:45:04 --> 01:45:08 | you're lacking. That's what overcomes the fear and the anxiety and the |
| 1199 | 01:45:08 --> 01:45:11 | worrisome thoughts that you're thinking. You're thinking the algorithm is going |
| 1200 | 01:45:11 --> 01:45:14 | to stop working, because here I am. I'm teaching it live in front of everybody, |
| 1201 | 01:45:14 --> 01:45:17 | and now more people are going to learn it, and they're going to change the |
| 1202 | 01:45:17 --> 01:45:21 | algorithm. No, they're not. They're not. Okay, they're not. Because this is the |
| 1203 | 01:45:21 --> 01:45:26 | science of how price is booked. So if this is what price is going to do, are |
| 1204 | 01:45:26 --> 01:45:32 | they going to be able to change time? Seven o'clock ain't never going to come. |
| 1205 | 01:45:32 --> 01:45:37 | No, it's always going to be there. London session is always going to be |
| 1206 | 01:45:37 --> 01:45:41 | there. The New York sessions am is going to be there. The pm session in New York |
| 1207 | 01:45:41 --> 01:45:44 | is going to be there. And you saw last week how to deal with the Asian |
| 1208 | 01:45:44 --> 01:45:50 | sessions. You want to trade that time of day. You may do it wrong, but they're |
| 1209 | 01:45:50 --> 01:45:58 | not changing. Okay? So anyway, as I was watching price action, I mentioned how, |
| 1210 | 01:45:58 --> 01:46:04 | because these are relatively equal. What is it? Those are relative equal highs at |
| 1211 | 01:46:04 --> 01:46:10 | nine o'clock. If I had not taken a trade, say I was not in a trade, say I |
| 1212 | 01:46:10 --> 01:46:16 | didn't have one, and I wasn't stopped out prematurely in gain, in profit. This |
| 1213 | 01:46:16 --> 01:46:20 | is your nine o'clock setup, right here. Isn't that your relative equal highs? |
| 1214 | 01:46:21 --> 01:46:25 | Isn't this price Run from here up to there, opposing where you think price |
| 1215 | 01:46:25 --> 01:46:29 | may draw to, or I was taking your attention here, and I told you the new |
| 1216 | 01:46:29 --> 01:46:34 | week opening gap last week, that's where it's going to draw to any clustering of |
| 1217 | 01:46:34 --> 01:46:45 | New Day opening gaps. That's your Friday New Day opening gap. These are the word |
| 1218 | 01:46:45 --> 01:46:51 | escapes me. These are qualifying factors that put probability so far in your |
| 1219 | 01:46:51 --> 01:46:56 | favor, and it was taught to you in advance last week in the same lot just |
| 1220 | 01:46:56 --> 01:47:01 | working here again, we're not trying to predict the closing price here, folks, |
| 1221 | 01:47:01 --> 01:47:05 | we're just trading a session run, something that's going to yield you |
| 1222 | 01:47:05 --> 01:47:12 | something that is clear. It's one sided. It's going to be very pronounced in |
| 1223 | 01:47:12 --> 01:47:15 | price. It's not going to be something that, oh, it looks like it could have |
| 1224 | 01:47:15 --> 01:47:19 | ran, but it's hard to tell there. No, it's definitely a run. It's |
| 1225 | 01:47:19 --> 01:47:23 | definitely a protraction in price. It's one directional, and it goes to a level |
| 1226 | 01:47:23 --> 01:47:30 | that can be predetermined. It's not random. Okay, this type of lesson I |
| 1227 | 01:47:30 --> 01:47:35 | would have, man, I would have given anything if someone knew this and was |
| 1228 | 01:47:35 --> 01:47:39 | willing to teach it to me when I was first starting, because I would be all |
| 1229 | 01:47:39 --> 01:47:43 | over these charts, studying, annotating and putting all these things in a |
| 1230 | 01:47:43 --> 01:47:47 | journal every single day and adhering to these rules, and I would be so much |
| 1231 | 01:47:47 --> 01:47:51 | better the trader and person, and I wouldn't have all the mental baggage I |
| 1232 | 01:47:51 --> 01:47:56 | have that I put myself it was self inflicted. But you have all the |
| 1233 | 01:47:56 --> 01:48:01 | advantages of having this information now and going forward, studying and |
| 1234 | 01:48:01 --> 01:48:06 | learning how to better yourself and avoid all of the bullshit nonsense |
| 1235 | 01:48:06 --> 01:48:10 | that's out here. There's so many things being told to you that this is what the |
| 1236 | 01:48:10 --> 01:48:13 | markets gonna do. This is what makes the market go up. This is a technique. This |
| 1237 | 01:48:13 --> 01:48:17 | is a pattern. This is some horse shit, some algo. This is some kind of a |
| 1238 | 01:48:18 --> 01:48:25 | indicator. Take the fucking indicators off your chart, every single one of |
| 1239 | 01:48:25 --> 01:48:28 | them. And if that makes you mad, and you watch me, if you like me and it offends |
| 1240 | 01:48:28 --> 01:48:32 | you, get over it, man, because you're you're literally lying to yourself when |
| 1241 | 01:48:32 --> 01:48:36 | you're saying that that indicator has any bearing on what price is doing. It |
| 1242 | 01:48:36 --> 01:48:40 | has absolutely fuck all to do with what price is going to do. It does nothing. |
| 1243 | 01:48:41 --> 01:48:45 | It's literally doing nothing. It's calculating, compressing, mathematically |
| 1244 | 01:48:45 --> 01:48:51 | old moves that you can't do shit about. But what am I teaching you? This is the |
| 1245 | 01:48:51 --> 01:48:56 | time when the market is going to run. This is how the moves set up. They |
| 1246 | 01:48:56 --> 01:49:00 | engineer liquidity, then they run the liquidity. That's the manipulation. When |
| 1247 | 01:49:00 --> 01:49:04 | you see that manipulation gets guess what that means. The other side of the |
| 1248 | 01:49:04 --> 01:49:08 | marketplace is now it tag mother fucker. You're it. It's gonna go the direction. |
| 1249 | 01:49:09 --> 01:49:13 | And some of you are still gonna say this is complicated. It's not complicated. It |
| 1250 | 01:49:13 --> 01:49:18 | literally is the easiest shit. There's nothing else that can be easier than |
| 1251 | 01:49:18 --> 01:49:24 | this. Literally. I mean, how many times again, every time this does this, I'm |
| 1252 | 01:49:24 --> 01:49:28 | going to show you again, how many times you need to see this before you start |
| 1253 | 01:49:28 --> 01:49:32 | taking it serious and saying, I'm going to start journaling and start looking |
| 1254 | 01:49:32 --> 01:49:35 | for this stuff in old news and collecting data that way, I'm building |
| 1255 | 01:49:35 --> 01:49:40 | pseudo experience that will be used going forward when I walk test forward, |
| 1256 | 01:49:40 --> 01:49:45 | everything that's that's not realized in price delivery yet. That means you're |
| 1257 | 01:49:45 --> 01:49:48 | walking forward with the hard right edge. You don't know what price is going |
| 1258 | 01:49:48 --> 01:49:52 | to do next. So you're looking at the chart like this, you don't know what |
| 1259 | 01:49:52 --> 01:49:56 | it's going to do. So what do you lean on? A lot of you just want to go to live |
| 1260 | 01:49:56 --> 01:50:00 | streamers and just listen what they're doing, and if it, if they think it's. To |
| 1261 | 01:50:00 --> 01:50:03 | go up. You wait for it to move 30 handles, if they even hold a trade that |
| 1262 | 01:50:03 --> 01:50:06 | long, and then once it starts stealing it, it's usually the big, bold green |
| 1263 | 01:50:06 --> 01:50:10 | candle or bullish candle, then you'll go in and buy because, you know, it's got |
| 1264 | 01:50:10 --> 01:50:14 | five more handles that run. And then it starts squeezing against you 17 handles, |
| 1265 | 01:50:14 --> 01:50:16 | and you get out and but then it goes right where you thought it was going to |
| 1266 | 01:50:17 --> 01:50:21 | go, or the live streamer hinted at, but never took the trade to get there. And |
| 1267 | 01:50:21 --> 01:50:25 | that's the cycle that I watch always panning out. It's just, it's, it's crazy |
| 1268 | 01:50:25 --> 01:50:30 | how this does it over and over and over again. But to break that cycle, and to |
| 1269 | 01:50:30 --> 01:50:33 | prevent yourself from going through those types of things, you have to have |
| 1270 | 01:50:33 --> 01:50:38 | some kind of baseline. You have to have something you're going to start doing |
| 1271 | 01:50:38 --> 01:50:45 | and measuring. And then not only what is price doing when it's behaving a certain |
| 1272 | 01:50:45 --> 01:50:51 | way, but how you feel, how you're feeling when the market does certain |
| 1273 | 01:50:51 --> 01:50:55 | things. Do you get it real excited when you get in front of the charts and you |
| 1274 | 01:50:55 --> 01:50:59 | anticipate something happening and it starts moving in your favor? Notice, are |
| 1275 | 01:50:59 --> 01:51:04 | you getting really emotional and like adrenaline rush that you're right, and |
| 1276 | 01:51:04 --> 01:51:08 | are you focused on the feeling of you being right at the moment? Because |
| 1277 | 01:51:09 --> 01:51:15 | that's a problem. You cannot invite the warm and fuzzies until you close the |
| 1278 | 01:51:15 --> 01:51:20 | idea that means it goes to Terminus where you would no longer be in a trade, |
| 1279 | 01:51:20 --> 01:51:25 | and you have stages of your development before you even get to that part, even |
| 1280 | 01:51:25 --> 01:51:28 | with a demo, like we're just talking about the fundamentals of determining |
| 1281 | 01:51:28 --> 01:51:31 | what price is going to do and why it should do it. That's the That's the |
| 1282 | 01:51:31 --> 01:51:36 | important, the why I'm telling you when I'm telling you how, but I'm telling you |
| 1283 | 01:51:36 --> 01:51:41 | the why it's going to do it. That proves there's a fucking algorithm. Because if |
| 1284 | 01:51:41 --> 01:51:44 | I'm pulling out of my ass, like some people, like to go around the internet |
| 1285 | 01:51:44 --> 01:51:47 | and pretend that's what it is, how is it that I'm sitting out here and I'm |
| 1286 | 01:51:47 --> 01:51:52 | telling you beforehand where it's going to go look at the live streamers on |
| 1287 | 01:51:52 --> 01:51:59 | YouTube, predominantly, most of them, and I like lots of them, and I have an |
| 1288 | 01:51:59 --> 01:52:03 | affinity for A few of them, but most of them, they don't know where price is |
| 1289 | 01:52:03 --> 01:52:08 | going. They're reacting off of something that forms at a later time. They don't |
| 1290 | 01:52:08 --> 01:52:14 | they really don't know where it's dry driving to. And I've counseled one in |
| 1291 | 01:52:14 --> 01:52:20 | particular to watch these lectures to help them. So while I'm not mentioning |
| 1292 | 01:52:20 --> 01:52:26 | their name, per se, they understand what I'm saying right now and who I'm talking |
| 1293 | 01:52:26 --> 01:52:34 | to. If you start to implement these ideas, your trades will grow |
| 1294 | 01:52:34 --> 01:52:38 | exponentially, in terms of the yield, in terms of how much you're getting out of |
| 1295 | 01:52:38 --> 01:52:43 | it, the precision elements will increase. And the comfort of you being |
| 1296 | 01:52:43 --> 01:52:46 | in the trade and not being so skittish about okay, I don't like this and |
| 1297 | 01:52:46 --> 01:52:56 | getting out, I rarely have that. In my 20s, I was a basket case. I'm watching |
| 1298 | 01:52:56 --> 01:53:01 | quotere, you know, watching charts go up and down just by price. And I didn't |
| 1299 | 01:53:01 --> 01:53:05 | have charts. We just watched the data, the highest high and the lowest low, and |
| 1300 | 01:53:05 --> 01:53:11 | where it's at right now. How many contracts are traded? That's it. That's |
| 1301 | 01:53:11 --> 01:53:16 | what you had. So because of that experience, I learned how to read the |
| 1302 | 01:53:16 --> 01:53:21 | tape without realizing, knowing that that's what I was doing. And every time |
| 1303 | 01:53:21 --> 01:53:26 | the high of the day would be breached, and they would back off on the bond |
| 1304 | 01:53:26 --> 01:53:32 | market, or back off on British Pound futures, or back off on silver contracts |
| 1305 | 01:53:32 --> 01:53:37 | or cruel or whatever I was trading at time, live cattle, lean hogs, whatever |
| 1306 | 01:53:37 --> 01:53:43 | it was I was trading, I wasn't aware that I was learning how the market will |
| 1307 | 01:53:43 --> 01:53:50 | constantly keep pressing into liquidity. I just felt that, okay, it's going to be |
| 1308 | 01:53:50 --> 01:53:53 | a blast off move, because we just broke the high the day, no not realizing that |
| 1309 | 01:53:53 --> 01:53:58 | there could be deeper retracements around elements of time, because anytime |
| 1310 | 01:53:58 --> 01:54:01 | the market moved above a certain level, because I only wanted to be a buyer. |
| 1311 | 01:54:01 --> 01:54:04 | Then when I first started, I thought that now it broke out, it's going to |
| 1312 | 01:54:04 --> 01:54:07 | keep going higher, and I would be frustrated that we would have |
| 1313 | 01:54:07 --> 01:54:11 | retracements, and because I didn't know how far it would retrace, I didn't |
| 1314 | 01:54:11 --> 01:54:14 | understand where the Fairbank gaps were when I first started doing this. I |
| 1315 | 01:54:14 --> 01:54:17 | didn't understand where the buy set of balance consequent encroachment would |
| 1316 | 01:54:17 --> 01:54:20 | be. I didn't know where the short term lows would be, that they would go down |
| 1317 | 01:54:20 --> 01:54:23 | there to sweep them and start running higher and create a new and create a new |
| 1318 | 01:54:23 --> 01:54:26 | buy side of LLC efficiency. And that's the one that you want to try to go along |
| 1319 | 01:54:26 --> 01:54:31 | in in the upper half of it. And that's a model right there. I didn't, I didn't |
| 1320 | 01:54:31 --> 01:54:35 | know those things initially. I didn't, I didn't have that understanding. I didn't |
| 1321 | 01:54:35 --> 01:54:40 | have the insight, experience seeing it, executing on it. I didn't have that. |
| 1322 | 01:54:41 --> 01:54:45 | These are all things I had to grow through and through prayer and just |
| 1323 | 01:54:45 --> 01:54:51 | helping you myself through personal counseling, which was, I mean, here I |
| 1324 | 01:54:51 --> 01:54:58 | am. I'm swinging from one spectrum to the next. Imagine being the person |
| 1325 | 01:54:58 --> 01:55:02 | that's going to coach you. You. But also tears yourself down, and you're the |
| 1326 | 01:55:02 --> 01:55:07 | person also that this ran into the tree with that account recklessly driving, |
| 1327 | 01:55:07 --> 01:55:10 | you know, the next trade before you should have taken it like it was, it was |
| 1328 | 01:55:10 --> 01:55:16 | crazy, like it was literally insane. And how I arrived, you know, if it wasn't |
| 1329 | 01:55:16 --> 01:55:20 | God helping me, I would have never arrived at my understanding of how these |
| 1330 | 01:55:20 --> 01:55:27 | markets do this. But I had to have some kind of foundation, and I'm providing |
| 1331 | 01:55:27 --> 01:55:35 | that for all of you, and you're not entitled to it. Okay? I'm not obligated |
| 1332 | 01:55:35 --> 01:55:40 | to tell this to you, but I just know that even when I'm done with this, |
| 1333 | 01:55:40 --> 01:55:44 | whenever that end is, I don't know what it's going to be, but no matter what |
| 1334 | 01:55:44 --> 01:55:49 | happens with Caleb, he could be wildly successful. He could be modestly |
| 1335 | 01:55:49 --> 01:55:53 | successful. You know, if he just gets half his monthly bills, I'm tickled to |
| 1336 | 01:55:53 --> 01:55:58 | death by that. If he can just make his monthly expense of where he lives, all |
| 1337 | 01:55:58 --> 01:56:03 | his bills paid, car insurance, all those things he has to pay out of that of his |
| 1338 | 01:56:03 --> 01:56:07 | wages, I don't give him money for that, so that's a motivation for him to do |
| 1339 | 01:56:07 --> 01:56:14 | better. And everything's expensive. But all of these foundational points here, |
| 1340 | 01:56:14 --> 01:56:21 | this is my best for him. Okay, this is my best. I'm not holding back because |
| 1341 | 01:56:21 --> 01:56:26 | you're all watching. I am proving to you that this shit is the real deal. It's |
| 1342 | 01:56:26 --> 01:56:30 | the real thing. It's exactly what's going on the marketplace. And I even |
| 1343 | 01:56:30 --> 01:56:33 | told you this is exactly what I use when I'm in other people's live stream, and |
| 1344 | 01:56:33 --> 01:56:36 | I'm calling it and many times it's against what they're saying. And it's |
| 1345 | 01:56:36 --> 01:56:40 | not to be rude. It's just for me to go and say, Hey, I support this live |
| 1346 | 01:56:40 --> 01:56:46 | streamer. I've never talked bad about them, but I'm also there sharing, and |
| 1347 | 01:56:46 --> 01:56:49 | I'm not doing it where. Okay, well, they're long. I'm going to go short |
| 1348 | 01:56:49 --> 01:56:52 | because I'm going to say, here's the sell side. I'm just saying this is what |
| 1349 | 01:56:52 --> 01:56:56 | I see. And the people that follow me and understand me, they know right away what |
| 1350 | 01:56:56 --> 01:57:00 | I'm doing. Okay, he's saying it's this is the sell side level. He's talking |
| 1351 | 01:57:00 --> 01:57:03 | about. So whatever the market's doing right now, he's going to be looking to |
| 1352 | 01:57:03 --> 01:57:07 | go up into some kind of premium array. That means go through the time frames |
| 1353 | 01:57:07 --> 01:57:14 | now, you know, 15, five, one. Go through it, and you'll see the fair value gaps, |
| 1354 | 01:57:14 --> 01:57:18 | the inversion fair value gaps, the order blocks, as I'm talking about here today. |
| 1355 | 01:57:19 --> 01:57:24 | Reading price like this. Caleb, you're not trying. I'm not trying to sway your |
| 1356 | 01:57:24 --> 01:57:29 | your interest in to an order block. I'm just showing you how when you're bearish |
| 1357 | 01:57:29 --> 01:57:32 | in the market is in sell side delivery. It means it's in a cell program and it's |
| 1358 | 01:57:32 --> 01:57:38 | going lower. Up close candles should be used as a means of saving off any |
| 1359 | 01:57:38 --> 01:57:42 | advance higher. But not every up close candle is going to perform like that. |
| 1360 | 01:57:43 --> 01:57:48 | It'll go back up into inefficiencies. It may touch the inefficiency again. Why? |
| 1361 | 01:57:48 --> 01:57:53 | Because there's a measure of time that's afforded to it to do that. So if we know |
| 1362 | 01:57:53 --> 01:57:58 | that at 930 that's like we're at the game. Now, you know this is it. It's the |
| 1363 | 01:57:58 --> 01:58:06 | big game, because the opening bell is in 30 minutes. So at 930 right here, there, |
| 1364 | 01:58:07 --> 01:58:11 | as soon as that bell opens, or, sorry, as soon as the opening bell happens, and |
| 1365 | 01:58:11 --> 01:58:14 | the market's technically, quote, unquote open, it's been trading, but that's what |
| 1366 | 01:58:14 --> 01:58:19 | they call the day session. What has it done? Well, at that moment, it's created |
| 1367 | 01:58:19 --> 01:58:24 | these relative equal highs and has these relative equal highs, and that gap right |
| 1368 | 01:58:24 --> 01:58:29 | there so it can return back into it. Now I could have very easily moved my stop |
| 1369 | 01:58:29 --> 01:58:35 | higher, but I don't do that, because I'm committed to this is what I see in |
| 1370 | 01:58:35 --> 01:58:39 | price. If it stops me out, I'll stop out with a gain. It's not taking things from |
| 1371 | 01:58:39 --> 01:58:43 | me. It's just removing me off the bus before the bus goes where I was |
| 1372 | 01:58:43 --> 01:58:47 | originally on the bus to go to which is down in here, down in here and down in |
| 1373 | 01:58:47 --> 01:58:53 | here. I was showing you where the limit order was. I wanted to get out down |
| 1374 | 01:58:53 --> 01:58:56 | here, but I was going to change that. And you've seen me do this. I know when |
| 1375 | 01:58:56 --> 01:59:01 | I talk like this. It's very easy for people with no character or just to just |
| 1376 | 01:59:02 --> 01:59:05 | little dick energy boys, okay, they'll say, Oh, you're saying that in Hines. I |
| 1377 | 01:59:05 --> 01:59:10 | literally do this all the time. I show you what I'm interested in, but if it |
| 1378 | 01:59:10 --> 01:59:14 | starts to really move, I'll take the limit order, expand it beyond, and then |
| 1379 | 01:59:14 --> 01:59:18 | I'll start taking single partials off. When it gets to levels, I like, just go |
| 1380 | 01:59:18 --> 01:59:22 | watch my examples. This is on Twitter and on my YouTube channel, like when I |
| 1381 | 01:59:22 --> 01:59:28 | do those things, I'm using predominantly the logic I'm showing you here. Okay, so |
| 1382 | 01:59:28 --> 01:59:31 | this is how you start learning how to read where price is going to go. |
| 1383 | 01:59:31 --> 01:59:36 | Because, as I said on baby pips, that's your first lesson. You have to know |
| 1384 | 01:59:36 --> 01:59:40 | where the market's going to go. If you don't do your initial work, there |
| 1385 | 01:59:40 --> 01:59:47 | anything and everything that you do is wasted time. And I can't stress that |
| 1386 | 01:59:47 --> 01:59:52 | enough, Caleb, if you try to do anything more than try to figure out where the |
| 1387 | 01:59:52 --> 01:59:57 | market's going to gravitate to, and when you don't see it like it's if it's not |
| 1388 | 01:59:57 --> 02:00:01 | obvious based on what I'm showing you. Just in last week's lecture, and today, |
| 1389 | 02:00:02 --> 02:00:08 | if you don't see that in price, don't hold an opinion. Don't try to form one, |
| 1390 | 02:00:08 --> 02:00:11 | because the only thing you'll do is you're going to try to arm wrestle and |
| 1391 | 02:00:11 --> 02:00:18 | develop your will. And it'll be many times contrarian. And I had to wrestle |
| 1392 | 02:00:18 --> 02:00:20 | myself out of the contrarian perspective. I mean, I There's certain |
| 1393 | 02:00:20 --> 02:00:24 | times where I look for it to be beneficial for me as a trader, I let my |
| 1394 | 02:00:24 --> 02:00:27 | personality, which is what I was talking about here, and every other time I talk |
| 1395 | 02:00:27 --> 02:00:32 | about other people's live streams, the ones that have a live chat open and they |
| 1396 | 02:00:32 --> 02:00:37 | allow other people to talk I am diametrically opposed to the sentiment |
| 1397 | 02:00:38 --> 02:00:41 | of whatever they're saying. If the things I'm teaching are technically |
| 1398 | 02:00:41 --> 02:00:47 | there in price at the time I'm looking for that. Those are my best trades. |
| 1399 | 02:00:47 --> 02:00:52 | Those are the times where I am absolutely in stunner mode. I got no |
| 1400 | 02:00:52 --> 02:00:57 | problem going out in public and saying, This is where it's going. And look how |
| 1401 | 02:00:57 --> 02:01:02 | over the head. Look at the history on Twitter. 10s of 1000s of you would be in |
| 1402 | 02:01:02 --> 02:01:08 | my live stream, or whatever shorter space listening, and I'm calling every |
| 1403 | 02:01:08 --> 02:01:13 | single individual woman at candle and where it went to. And then you watch my |
| 1404 | 02:01:13 --> 02:01:17 | examples of recorded trades. And then I'm out here live streaming now, giving |
| 1405 | 02:01:17 --> 02:01:23 | you the logic of how I do it. And it's still panning out, and you're still |
| 1406 | 02:01:23 --> 02:01:25 | going to worry about there is no algorithm, or it's going to stop |
| 1407 | 02:01:25 --> 02:01:30 | working, or I'm making up stuff. You You're you're worried about all the |
| 1408 | 02:01:30 --> 02:01:34 | wrong things instead of just learning how to do it yourself. You don't have to |
| 1409 | 02:01:34 --> 02:01:38 | be a fan of me. I don't want fans. I want students that learn how to do this, |
| 1410 | 02:01:38 --> 02:01:42 | and they tell me, I've been able to take care of my family. I've been able to |
| 1411 | 02:01:42 --> 02:01:46 | take care of my family, and I thank you so much for that. And I say in response, |
| 1412 | 02:01:46 --> 02:01:51 | give praise to God. That's it, because I want the invitation to redirect it right |
| 1413 | 02:01:51 --> 02:01:55 | back to him. That's it. I don't want to be worshiped. I'm not the guru, I'm not |
| 1414 | 02:01:55 --> 02:02:02 | in the goat. I'm not the greatest of all time, but I don't ever want to move my |
| 1415 | 02:02:02 --> 02:02:07 | stop open once I reduce it and I'm content with getting stopped out. If I |
| 1416 | 02:02:07 --> 02:02:12 | am, if I moved it too prematurely, I'm going to eat it. It is what it is. It's |
| 1417 | 02:02:12 --> 02:02:17 | just that I'm going to live with it, and if it's conducive for me to enter again, |
| 1418 | 02:02:17 --> 02:02:23 | and it's not today, because we have big news tomorrow, and frankly, I'm not |
| 1419 | 02:02:23 --> 02:02:30 | interested, and it's good for you to see me trade and see me get stopped out and |
| 1420 | 02:02:30 --> 02:02:33 | still deliver where I said I was going to go, because that's going to happen to |
| 1421 | 02:02:34 --> 02:02:40 | you. Do I sound regretful? No, do I feel like I gotta go out and try to save |
| 1422 | 02:02:40 --> 02:02:45 | face? No because everything I'm teaching and taught last week is in your chart. |
| 1423 | 02:02:46 --> 02:02:51 | It's happening every day, and they're not going to stop doing it, because |
| 1424 | 02:02:51 --> 02:02:55 | there's a whole lot of people out there even listening to me, they're not going |
| 1425 | 02:02:55 --> 02:03:01 | to do it. They're not going to do it, folks. They're not going to the rules. |
| 1426 | 02:03:01 --> 02:03:05 | They're never going to trade with real money because they're afraid. So there's |
| 1427 | 02:03:05 --> 02:03:09 | no there's no concern there either. They're never going to pass their funded |
| 1428 | 02:03:09 --> 02:03:14 | account challenge because they don't have all the the wherewithal to be |
| 1429 | 02:03:14 --> 02:03:17 | personally responsible. They're going to over trade. They're going to over |
| 1430 | 02:03:17 --> 02:03:20 | leverage, even understanding this, they're still going to break the rules. |
| 1431 | 02:03:22 --> 02:03:26 | That's why I have students from 2016 that still aren't profitable. Not all of |
| 1432 | 02:03:26 --> 02:03:29 | them are like that, but I do have students from my very first paid |
| 1433 | 02:03:29 --> 02:03:34 | mentorship that can't find their way through this. And the ones that are |
| 1434 | 02:03:34 --> 02:03:37 | honest, they've been very candid with me. They say these are the same |
| 1435 | 02:03:37 --> 02:03:44 | repeating things I keep doing, and I can't stop I can't help them. They have |
| 1436 | 02:03:44 --> 02:03:48 | to make the decision. They know what those things are, so they have to figure |
| 1437 | 02:03:48 --> 02:03:51 | out what those triggering mechanisms are that cause them to keep doing that |
| 1438 | 02:03:51 --> 02:03:55 | repeated phenomenon that they know is going to give them an adverse response, |
| 1439 | 02:03:55 --> 02:03:59 | it's not going to get them the results that they're looking for. So they keep |
| 1440 | 02:03:59 --> 02:04:03 | doing it over and over again, expecting a different result, and that's where the |
| 1441 | 02:04:03 --> 02:04:10 | frustrations coming from. And for an educator, it's very frustrating for me, |
| 1442 | 02:04:10 --> 02:04:16 | because I I'm at the I'm at the end of my ability to help them, because now |
| 1443 | 02:04:16 --> 02:04:21 | it's all in their hands. Clearly, the things I'm telling you are there in the |
| 1444 | 02:04:21 --> 02:04:28 | charts. It's happening every single day. The problem is you're either not able to |
| 1445 | 02:04:28 --> 02:04:31 | identify because you haven't spent enough time practicing and logging and |
| 1446 | 02:04:31 --> 02:04:37 | then watching price deliver real time looking for these things to repeat. Yes, |
| 1447 | 02:04:37 --> 02:04:42 | if I was told that that had to do that at 20 years old, again, that would have |
| 1448 | 02:04:42 --> 02:04:49 | sucked, but after I blew a number of accounts, I would have been really |
| 1449 | 02:04:49 --> 02:04:53 | interested in trying to do it. I know that because I had the tenacity to do |
| 1450 | 02:04:53 --> 02:05:01 | it, I that's in my makeup to do it. I did want to go into the. This and accept |
| 1451 | 02:05:01 --> 02:05:07 | not knowing how to read price. I went in wanting to know everything about it. I |
| 1452 | 02:05:07 --> 02:05:12 | wanted to know everything that was there for me to take advantage of everybody |
| 1453 | 02:05:12 --> 02:05:18 | else's perspective and be superior to that was my goal. I wasn't trying to be |
| 1454 | 02:05:18 --> 02:05:22 | the best trader in the world. I wanted to be the guy that knew exactly what's |
| 1455 | 02:05:22 --> 02:05:27 | going to happen. And for some of you that you know that can't happen, and |
| 1456 | 02:05:27 --> 02:05:31 | there are days where I get it wrong, but that's my that's my desire, that's my |
| 1457 | 02:05:31 --> 02:05:38 | that's always been my goal. And the way that these these concepts, you know, |
| 1458 | 02:05:38 --> 02:05:42 | that I've had to create a language for us so that way you can see what it is |
| 1459 | 02:05:42 --> 02:05:45 | that's behind the scenes that I can't teach you. These are the closest things |
| 1460 | 02:05:45 --> 02:05:50 | that get me to that point. And truth be told, I am not satisfied with it, |
| 1461 | 02:05:51 --> 02:05:56 | because I know there's some way that I could probably explain it differently, |
| 1462 | 02:05:56 --> 02:06:00 | and it would open up your understanding a lot better based on what I've already |
| 1463 | 02:06:00 --> 02:06:09 | shown that keeps repeating. But even in even knowing that I don't know how to do |
| 1464 | 02:06:09 --> 02:06:15 | that, it's very frustrating. So I had to, you know, be content with what I've |
| 1465 | 02:06:15 --> 02:06:18 | done, because I know I have students that do really, really well, and if it |
| 1466 | 02:06:18 --> 02:06:21 | was something that wasn't really there, they wouldn't be doing well, would they? |
| 1467 | 02:06:21 --> 02:06:25 | They wouldn't make money. They wouldn't have the accolades that they can prove |
| 1468 | 02:06:26 --> 02:06:30 | in front of the world that this is what they've learned. And now they put it to |
| 1469 | 02:06:30 --> 02:06:33 | work, and they're making money, lots of money, you know, they don't work their |
| 1470 | 02:06:33 --> 02:06:37 | job. They have their own little business now, doing their thing. And to me, it's |
| 1471 | 02:06:37 --> 02:06:48 | awesome, but you have to have some kind of personal responsibility going into |
| 1472 | 02:06:48 --> 02:06:52 | this and not just look for, well, it's going to be easy, or I'm just going to |
| 1473 | 02:06:52 --> 02:06:54 | say he sucks, and he's a fraud, and stuff doesn't work. Well, first of all, |
| 1474 | 02:06:54 --> 02:06:57 | you can't say this stuff doesn't work, and you can't say that it isn't precise, |
| 1475 | 02:06:57 --> 02:07:01 | and you can't say that it doesn't have the ability to call the market before it |
| 1476 | 02:07:01 --> 02:07:05 | happens. I mean, look at these levels, look look at behaves around these |
| 1477 | 02:07:05 --> 02:07:10 | levels, and why it does what it does when it does it. See, these are all |
| 1478 | 02:07:10 --> 02:07:13 | questions I asked myself initially as a 20 year old. I'm like, |
| 1479 | 02:07:14 --> 02:07:18 | I don't know why price did that when it did. I didn't see that move. There's no |
| 1480 | 02:07:18 --> 02:07:24 | way stop. There's no way for me to determine that move starting when it |
| 1481 | 02:07:24 --> 02:07:29 | started like there's no way for me to have arrived at that. And then I would |
| 1482 | 02:07:29 --> 02:07:35 | go in and say, Okay, what was occurring? Then? What did price look like? Then, |
| 1483 | 02:07:35 --> 02:07:38 | what did every one of these Open, High, Low, Close bars, because that's what I |
| 1484 | 02:07:38 --> 02:07:42 | was using back then, not candlesticks. My eyes were better than they are today. |
| 1485 | 02:07:43 --> 02:07:45 | And I would stare at them and make annotations, and a lot of things that I |
| 1486 | 02:07:45 --> 02:07:49 | thought initially were catalysts for why they I soon found out that they had |
| 1487 | 02:07:49 --> 02:07:52 | nothing to do with it. And I would search indicators and see which one of |
| 1488 | 02:07:52 --> 02:07:57 | the indicators would do a better job of determining that it was going to go up |
| 1489 | 02:07:57 --> 02:08:02 | or go down. And I wasted so much time with all that stuff, and it really I'm |
| 1490 | 02:08:02 --> 02:08:06 | telling you, listen, sit still for a minute. I can't come about to close this |
| 1491 | 02:08:09 --> 02:08:14 | video. I want you to spend the least amount of time learning how to do this. |
| 1492 | 02:08:14 --> 02:08:21 | I really do. I want you to be able to do this and have no fear. I want you to be |
| 1493 | 02:08:21 --> 02:08:24 | able to do this and know beyond the shadow of doubt even if you make a |
| 1494 | 02:08:24 --> 02:08:29 | mistake today or tomorrow or the next day that you trade that that loss |
| 1495 | 02:08:29 --> 02:08:33 | doesn't undermine your desire to do this and your confidence in trusting it. |
| 1496 | 02:08:34 --> 02:08:41 | That's what I want for you. I love you son, and I know that you can do this. I |
| 1497 | 02:08:41 --> 02:08:45 | know you can, but you're going to have to sit down and go through this, and |
| 1498 | 02:08:45 --> 02:08:49 | it's going to be daunting. It's going to feel like you're not learning anything. |
| 1499 | 02:08:49 --> 02:08:54 | It's going to feel like it ain't clicking for you. But it's going to |
| 1500 | 02:08:54 --> 02:09:00 | happen if you keep pressing into it, you'll see it. You'll be able to see |
| 1501 | 02:09:00 --> 02:09:03 | exactly what Dad's selling it. It's going to do this. I'm going to we were |
| 1502 | 02:09:03 --> 02:09:23 | doing it. Last was it Sunday? We were watching it. What was it Friday? When |
| 1503 | 02:09:23 --> 02:09:26 | you see these things repeat, you'll be able to do this. Anything that was done |
| 1504 | 02:09:26 --> 02:09:29 | this candle stays going to go right up here. It's going to stop right here, and |
| 1505 | 02:09:29 --> 02:09:34 | then immediately that next candle, or the candle right after that one on a one |
| 1506 | 02:09:34 --> 02:09:38 | minute chart, you'll be able to determine the magnitude, the speed and |
| 1507 | 02:09:38 --> 02:09:42 | where it's going to run right to and it's going to feel like a mutant |
| 1508 | 02:09:42 --> 02:09:50 | superpower, and it gives you confidence. And in your age, because you're still in |
| 1509 | 02:09:50 --> 02:09:54 | your 20s, you could potentially become an arrogant prick like I was, because |
| 1510 | 02:09:54 --> 02:09:57 | when you're 20 years old, you already think your shit doesn't stink, and you |
| 1511 | 02:09:57 --> 02:10:01 | walk around and peacock about the smalls of little things you. Uh, because you |
| 1512 | 02:10:01 --> 02:10:08 | want other people to recognize you and give you another boy. But it'll impress |
| 1513 | 02:10:08 --> 02:10:16 | dad more if you quell that and you just learn how to just be consistent and not |
| 1514 | 02:10:16 --> 02:10:20 | be arrogant, not be arrogant to your brothers if you get good at because |
| 1515 | 02:10:20 --> 02:10:23 | they're going to look at you and they're going to pattern themselves after what |
| 1516 | 02:10:23 --> 02:10:28 | you're doing. And I want to see you learn how to do this well and not be |
| 1517 | 02:10:28 --> 02:10:31 | arrogant and not try to talk down anybody when you start making lots of |
| 1518 | 02:10:31 --> 02:10:38 | money. I don't want to see that. I want to see you do well and be steady. Eddie, |
| 1519 | 02:10:39 --> 02:10:43 | you're not trying to be talking to anybody in a condescending tone, not to, |
| 1520 | 02:10:43 --> 02:10:48 | not to act like you're better than everybody else, because you're going to |
| 1521 | 02:10:48 --> 02:10:53 | want to do that sometimes, and that's not going to be what people see in you. |
| 1522 | 02:10:53 --> 02:10:56 | And they're not, they're not going to look at you and say, Wow, look at that. |
| 1523 | 02:10:56 --> 02:11:00 | The other 20 year olds are going to want to be like you if you did that, because |
| 1524 | 02:11:00 --> 02:11:04 | they feel the same impulse. They want to be significant, and they think acting |
| 1525 | 02:11:04 --> 02:11:10 | like that will yield them significance or clout. And I'm trying to tell you, as |
| 1526 | 02:11:10 --> 02:11:16 | a fuddy duddy old guy, I did all that stuff, and I'm not proud of it. And if |
| 1527 | 02:11:16 --> 02:11:20 | you find your way in success with this stuff, and you want to teach everything |
| 1528 | 02:11:20 --> 02:11:26 | that you know that I'm holding back for you getting this foundation, if you want |
| 1529 | 02:11:26 --> 02:11:31 | to give it to the world, that's entirely up to you. I won't say no, because once |
| 1530 | 02:11:31 --> 02:11:36 | I give it to you, it's yours, but you have the ability to determine that. But |
| 1531 | 02:11:36 --> 02:11:45 | if you're not properly rooted in decency, and modesty and not being |
| 1532 | 02:11:45 --> 02:11:52 | arrogant. You won't be prepared for it. I'll hold it back from you if you if you |
| 1533 | 02:11:52 --> 02:11:59 | show those signatures and your character, but if you use this and you |
| 1534 | 02:11:59 --> 02:12:03 | do well with it, and you show that you're not being arrogant or egotistical |
| 1535 | 02:12:03 --> 02:12:08 | or just trying to be better than everybody else. Believe me, you're going |
| 1536 | 02:12:08 --> 02:12:14 | to try it because it's going to feel like you arrived. It's going to feel |
| 1537 | 02:12:14 --> 02:12:19 | like you are a superstar, and therefore you're you deserve to be treated as a |
| 1538 | 02:12:19 --> 02:12:29 | celebrity. Don't try to be a celebrity. Make Your Money live well, let everybody |
| 1539 | 02:12:29 --> 02:12:34 | else think whatever they want to think about you. It doesn't change, it doesn't |
| 1540 | 02:12:34 --> 02:12:39 | reduce, it doesn't increase it, but you're concerned about everybody else's |
| 1541 | 02:12:39 --> 02:12:42 | opinion about you will be a personal reflection on you, and you'll care more |
| 1542 | 02:12:42 --> 02:12:51 | about that stuff than just the things that you're supposed to be doing |
| 1543 | 02:12:51 --> 02:12:53 | watching this thing just cascade lower and lower. |
| 1544 | 02:12:59 --> 02:13:05 | Beautiful drop. Did something happen? I don't have any news wires in front of me |
| 1545 | 02:13:05 --> 02:13:10 | because I'm just on my laptop wondering if something just happened there. I |
| 1546 | 02:13:10 --> 02:13:12 | mean, technically, we went back to the level I already outlined |
| 1547 | 02:13:17 --> 02:13:24 | to you. Well, I said what I wanted to say today, and I showed you the logic |
| 1548 | 02:13:24 --> 02:13:31 | working. You saw me get stopped out knocking out at like trail stop loss. So |
| 1549 | 02:13:31 --> 02:13:38 | it's not a loss when I showed how all these concepts work, and I talk about |
| 1550 | 02:13:38 --> 02:13:43 | how the market's going to behave, and it does it on Twitter, I had always people |
| 1551 | 02:13:43 --> 02:13:46 | ask me all the time, can you show a losing trade? Can you just do it wrong |
| 1552 | 02:13:46 --> 02:13:50 | once in a while? And I'll be honest with you, the 20 year old me loved seeing |
| 1553 | 02:13:50 --> 02:13:55 | that. The 20 year old in me loved reading comments like that. And I would |
| 1554 | 02:13:55 --> 02:13:58 | snicker, and I'd smile, and I'd look at my wife, I'd look at my sons, and say, |
| 1555 | 02:13:58 --> 02:14:03 | Look at this. And that was just me, just nodding to the younger man, and me |
| 1556 | 02:14:03 --> 02:14:10 | saying, that's what you want to see all the time. But if I do it, if I show you, |
| 1557 | 02:14:12 --> 02:14:17 | it's real, it's organic, like today, and I'm telling you when I'm interested in |
| 1558 | 02:14:17 --> 02:14:21 | going back in and when I'm not. So what does it mean for tomorrow, and then I'll |
| 1559 | 02:14:21 --> 02:14:25 | close it. Obviously we have day 30 news drivers on Tuesday and Wednesday. |
| 1560 | 02:14:25 --> 02:14:29 | They're going to absolutely be bonkers. It's going to be nuts. I'm not trying to |
| 1561 | 02:14:29 --> 02:14:33 | predict the market ahead of that you've seen on Twitter and wherever else I've |
| 1562 | 02:14:33 --> 02:14:36 | tried to go before. I've done my streams right? I thought we're going to go to |
| 1563 | 02:14:36 --> 02:14:39 | and it would go the other direction, which is fine, because I'm not trying to |
| 1564 | 02:14:39 --> 02:14:43 | trade ahead of the CPI, not trying to trade ahead of the PPI number. PPI |
| 1565 | 02:14:43 --> 02:14:46 | number. They're face rippers. They're little bit decapitate you if you're |
| 1566 | 02:14:46 --> 02:14:51 | wrong, and it's unforgiving. So what we are doing is we're going to start our |
| 1567 | 02:14:51 --> 02:14:58 | session at 915 tomorrow, and on Wednesday and Thursday and Friday. So |
| 1568 | 02:14:58 --> 02:15:04 | I'll give you my. Pre market view. I'll go right into that. I'll talk about the |
| 1569 | 02:15:04 --> 02:15:07 | levels. I'll have them on my charts that way it's already done, and I can just |
| 1570 | 02:15:07 --> 02:15:10 | point to them. Okay, I don't want to draw them out because it's a little too |
| 1571 | 02:15:10 --> 02:15:14 | tedious. So that I did that last week so that we can see it how it's done, but |
| 1572 | 02:15:14 --> 02:15:17 | they'll already be on the chart populated. So then when the stream |
| 1573 | 02:15:17 --> 02:15:21 | starts, I'll say, Okay, good morning, whatever. And then point to, this is |
| 1574 | 02:15:21 --> 02:15:24 | what I'm looking at. This is interesting to me. This is where my focus is. And I |
| 1575 | 02:15:24 --> 02:15:28 | want to see if it does this or that. Then, therefore, I would be looking for |
| 1576 | 02:15:28 --> 02:15:32 | price to go here or there as a result of that. Okay, so the rest of the week, |
| 1577 | 02:15:32 --> 02:15:38 | you'll see how I'm really looking at price and formulating an idea around |
| 1578 | 02:15:38 --> 02:15:43 | bias. Maybe talk about, you know, how the market may behave in specific |
| 1579 | 02:15:43 --> 02:15:46 | profiles, not that you need to know how to do that right now. Caleb, it's not |
| 1580 | 02:15:46 --> 02:15:49 | even really essential at all, really, because all you're looking for is a run |
| 1581 | 02:15:49 --> 02:15:58 | from a stop hunt that is engineered based around time, then price, then it |
| 1582 | 02:15:58 --> 02:16:03 | goes to an area of inefficiency, drawing to a new week opening gap and or a |
| 1583 | 02:16:03 --> 02:16:07 | clustering of New Day or new week opening gap or a clustering of New Day |
| 1584 | 02:16:07 --> 02:16:17 | opening gaps. So it's this very, very bland, not sexy, not terribly exciting, |
| 1585 | 02:16:17 --> 02:16:23 | rule based idea of determining where the markets likely to go to and why. It's |
| 1586 | 02:16:23 --> 02:16:26 | the same logic I taught you last week. It's the same general idea I taught when |
| 1587 | 02:16:26 --> 02:16:32 | I was teaching liquidity, but I'm giving you a much more refined rate, to the |
| 1588 | 02:16:32 --> 02:16:35 | point even there's a whole lot of other stuff in here, because I'm talking to my |
| 1589 | 02:16:35 --> 02:16:39 | son, if you don't like, go fuck yourself. The idea is that you want to |
| 1590 | 02:16:39 --> 02:16:46 | strip it down to the Chrome. Where is it going? Why should it go there? And how |
| 1591 | 02:16:46 --> 02:16:50 | can I know when it's going to start doing it? And what is the beginning of |
| 1592 | 02:16:50 --> 02:16:55 | that move? Well, you're looking for the market to open up with your time when |
| 1593 | 02:16:55 --> 02:16:59 | you're going to sit down in front of charts. And if prices above New Leaf |
| 1594 | 02:16:59 --> 02:17:04 | opening gap, clustering of new opening gaps the market will tend to seek those |
| 1595 | 02:17:04 --> 02:17:09 | old reference points. Then if you're going to be looking for it to go lower, |
| 1596 | 02:17:09 --> 02:17:15 | you want to see relative equal highs form and then pierce them. And then once |
| 1597 | 02:17:15 --> 02:17:18 | it rejects that, all you have to do is get on board with a fair value gap, |
| 1598 | 02:17:18 --> 02:17:22 | institutional order flow entry drill a bearish breaker, a bearish order block, |
| 1599 | 02:17:23 --> 02:17:29 | a bearish mitigation block, inversion, fair value gap that used to be viewed as |
| 1600 | 02:17:29 --> 02:17:32 | maybe something that would have been bullish, but now, once it trades below |
| 1601 | 02:17:32 --> 02:17:39 | it, if it trades back up into it, see how fast it easily becomes usable. The |
| 1602 | 02:17:39 --> 02:17:43 | language now suddenly mean something. Instead of just talking like an ICT |
| 1603 | 02:17:43 --> 02:17:51 | student or SMT, SMC, Smart Money concepts trader, you understand what |
| 1604 | 02:17:51 --> 02:17:55 | that stuff means, not just using buzzwords. And then you know what you're |
| 1605 | 02:17:55 --> 02:18:01 | looking for. And by having that, that understanding that repeats and that |
| 1606 | 02:18:01 --> 02:18:05 | processes that you go through following specific protocols you'll learn by |
| 1607 | 02:18:05 --> 02:18:12 | experience, where your best setups for your personal risk and appetite for |
| 1608 | 02:18:13 --> 02:18:19 | leveraging anything in here in terms of real money, there's no shortcuts to it, |
| 1609 | 02:18:19 --> 02:18:23 | son, I promise you, If there was, I would be giving it to you, and you'd |
| 1610 | 02:18:23 --> 02:18:28 | already be using it. But this is the first part that everybody has to do. You |
| 1611 | 02:18:28 --> 02:18:35 | have to do this part. And it's a, it's a sped up, advanced perspective on on the |
| 1612 | 02:18:35 --> 02:18:40 | things I've already taught. But this is the shortest route through it. There's |
| 1613 | 02:18:40 --> 02:18:45 | no, there's nothing I can do to shorten this learning curve with what I'm |
| 1614 | 02:18:45 --> 02:18:49 | showing you here. And for some of you that are listening from the outside and |
| 1615 | 02:18:49 --> 02:18:54 | you think that this is too hard, too too daunting for you, I am not the mentor |
| 1616 | 02:18:54 --> 02:18:59 | for you, and it's okay. You don't have to, you know, insult me on the way out. |
| 1617 | 02:18:59 --> 02:19:02 | You just never have to come back here again. Don't waste your time if, if what |
| 1618 | 02:19:02 --> 02:19:06 | I'm showing you here doesn't resonate with you and you can't see this is what |
| 1619 | 02:19:06 --> 02:19:10 | the market's doing and how it's behaving. Don't watch anything from me. |
| 1620 | 02:19:10 --> 02:19:13 | Don't even watch anybody else that talks about my stuff, because they're not |
| 1621 | 02:19:13 --> 02:19:17 | going to make it any easier for you. I promise you, they will not explain this. |
| 1622 | 02:19:17 --> 02:19:22 | They had no understanding what I gave last week at all, zero. Not one of my |
| 1623 | 02:19:22 --> 02:19:25 | paid mentorship students knew what I was teaching last week. You heard all the |
| 1624 | 02:19:25 --> 02:19:31 | same terms, but you did not get it laid out like that. Effort by me, and none of |
| 1625 | 02:19:31 --> 02:19:37 | them were teaching like that. So you're all in the same playing field right now. |
| 1626 | 02:19:37 --> 02:19:42 | It's all been evenly distributed to all of you at the same time. Don't try to |
| 1627 | 02:19:42 --> 02:19:46 | skip ahead and don't try to be better faster than you should be. You're not |
| 1628 | 02:19:46 --> 02:19:51 | even supposed to be taking trades right now. But the logic is, is it gravitating |
| 1629 | 02:19:51 --> 02:19:56 | away from these things at the same time? Is it occurring at when we should see it |
| 1630 | 02:19:56 --> 02:20:01 | happen? The backdrop behind the trade? When it went to this level here, |
| 1631 | 02:20:02 --> 02:20:06 | piercing above just these little short term highs after seven o'clock, formed |
| 1632 | 02:20:08 --> 02:20:13 | all that logic. That's the repeating phenomenons that you're going to get |
| 1633 | 02:20:13 --> 02:20:16 | real comfortable with. And that means that you know what you're looking for. |
| 1634 | 02:20:16 --> 02:20:21 | How many times have you spent looking at the chart thinking, damn, I wish my dad |
| 1635 | 02:20:21 --> 02:20:26 | could just tell me how to read this easy. Like, all it looks like a foreign |
| 1636 | 02:20:26 --> 02:20:31 | language, like I used to look at charts, and it would just bleed together in the |
| 1637 | 02:20:31 --> 02:20:34 | open, high, low, close bars. You ever stare, and all of a sudden it goes to a |
| 1638 | 02:20:34 --> 02:20:38 | blur and like, almost like a double vision, like you're crossing your eyes. |
| 1639 | 02:20:38 --> 02:20:42 | I would be like that two hours before going to work, and I have been up all |
| 1640 | 02:20:42 --> 02:20:48 | night long, and I have to drive for a living back then, and it felt like a |
| 1641 | 02:20:48 --> 02:20:54 | language I was never going to learn. I know what that feels like, but |
| 1642 | 02:20:54 --> 02:20:59 | eventually, doing these things, you're going to start seeing it like sheet |
| 1643 | 02:20:59 --> 02:21:02 | music. I know you know how to play the instrument. You can read sheet music. To |
| 1644 | 02:21:02 --> 02:21:06 | me, I don't know what the hell that is, okay, just so you guys know my son |
| 1645 | 02:21:06 --> 02:21:12 | played the trombone in school when he was in marching band, and my oldest son, |
| 1646 | 02:21:12 --> 02:21:18 | Cody, used to play the saxophone, and Cameron played the drums, and Caden |
| 1647 | 02:21:18 --> 02:21:22 | didn't play any instruments, but they had the ability of reading sheet music, |
| 1648 | 02:21:22 --> 02:21:27 | and I can't like I cannot read it. I've tried it just, I don't know what it is. |
| 1649 | 02:21:27 --> 02:21:33 | It's something says, No, you are not going to pass. So I understanding what |
| 1650 | 02:21:33 --> 02:21:36 | it's like for people when they see me talk about what price is going to do and |
| 1651 | 02:21:36 --> 02:21:40 | to the degree does it, I understand it seems like something you can't do, but |
| 1652 | 02:21:40 --> 02:21:45 | I'm confident, son, I'm absolutely confident that everything I taught you |
| 1653 | 02:21:45 --> 02:21:49 | last week and what's in this today, and the reinforcement ideas that I'm giving |
| 1654 | 02:21:49 --> 02:21:54 | you here, that's all you need, and the rest is you just practicing it and |
| 1655 | 02:21:54 --> 02:21:59 | studying it and collecting the information. I promise you, you will |
| 1656 | 02:21:59 --> 02:22:03 | have the ability to do what you see me doing here. It doesn't mean you know how |
| 1657 | 02:22:03 --> 02:22:07 | to buy and sell and pyramid and every entry that that's all that this is not |
| 1658 | 02:22:07 --> 02:22:12 | That's not important, but being able to read where price is going to go, that is |
| 1659 | 02:22:12 --> 02:22:17 | your first mutant power. All of you listening. That's your first goal to get |
| 1660 | 02:22:17 --> 02:22:23 | good at that. Because everything after that point is easy. |
| 1661 | 02:22:24 --> 02:22:29 | You'll anticipate fair value gaps when you're likely to see it go lower, just |
| 1662 | 02:22:29 --> 02:22:33 | simply wait for it to form on the chart. And that's what forward walk testing is. |
| 1663 | 02:22:34 --> 02:22:37 | Walking forward testing delivery of price where you're not pressing any |
| 1664 | 02:22:37 --> 02:22:40 | buttons, you're just tape reading. You're going to watch them form it's |
| 1665 | 02:22:40 --> 02:22:43 | okay, it's going to drive up into that fair value gap. And then I want to see |
| 1666 | 02:22:43 --> 02:22:47 | the upper half of it stay open. And then when it does Okay, now it's going to |
| 1667 | 02:22:47 --> 02:22:51 | drop hard. And you keep doing this every single day, week after week for months. |
| 1668 | 02:22:52 --> 02:22:56 | And then what will happen is is you get really comfortable with doing it, and |
| 1669 | 02:22:56 --> 02:23:00 | then that's your invitation to start doing demo trades. But before you get |
| 1670 | 02:23:00 --> 02:23:04 | consistently able to be able to see what price is doing and anticipate the |
| 1671 | 02:23:04 --> 02:23:06 | formation of the fair value gap, waiting for it to be there, and then |
| 1672 | 02:23:06 --> 02:23:10 | anticipating it trading up into it or down into it when it's going to go |
| 1673 | 02:23:10 --> 02:23:13 | higher, until you get to that point where you can anticipate that forming. |
| 1674 | 02:23:13 --> 02:23:18 | You shouldn't even be thinking about a demo. You shouldn't even have a demo |
| 1675 | 02:23:18 --> 02:23:23 | available to you. It should be just watching price not worrying about |
| 1676 | 02:23:23 --> 02:23:29 | nothing. And when it's boring and it keeps repeating, you have to get to that |
| 1677 | 02:23:29 --> 02:23:33 | point when it's boring to you watching price action, and you can see what it's |
| 1678 | 02:23:33 --> 02:23:38 | doing, how it's behaving. It's measurable. It should not go past this |
| 1679 | 02:23:38 --> 02:23:42 | point. Therefore, what you're saying is without saying so with a demo account is |
| 1680 | 02:23:42 --> 02:23:47 | a stop loss. Just outside that boundary point should not be traded to so the |
| 1681 | 02:23:47 --> 02:23:50 | trade should still be open if you were in a demo or if you were in a live |
| 1682 | 02:23:50 --> 02:23:55 | account, and you're teaching yourself and desensitizing yourself to the |
| 1683 | 02:23:55 --> 02:23:58 | fluctuations when you're looking at the chart without this information, or not |
| 1684 | 02:23:58 --> 02:24:02 | knowing how to trade with another methodology. I mean, I have to say this, |
| 1685 | 02:24:02 --> 02:24:06 | because I know when I say certain things like this, it sounds very condescending |
| 1686 | 02:24:06 --> 02:24:12 | to like nobody else makes money but ICT traders, no, but if you're consistently |
| 1687 | 02:24:12 --> 02:24:17 | making money, you're following something that you've spent time with. You know it |
| 1688 | 02:24:17 --> 02:24:20 | intimately. These are the things that repeat. This is what it usually does, |
| 1689 | 02:24:21 --> 02:24:26 | and I trust it, so therefore I'm willing to put risk behind it. When you get to |
| 1690 | 02:24:26 --> 02:24:31 | this point of knowing how to anticipate the setups that it's going to create |
| 1691 | 02:24:31 --> 02:24:36 | relative equal highs, because the new week opening gap and the new day opening |
| 1692 | 02:24:36 --> 02:24:40 | gaps are below price at seven o'clock. So I know at seven o'clock I'm waiting |
| 1693 | 02:24:40 --> 02:24:45 | for a relative equal highs to form right away. Contrast that with you not knowing |
| 1694 | 02:24:45 --> 02:24:51 | what price is doing or anything. Nobody thinks like that, except for our |
| 1695 | 02:24:51 --> 02:24:55 | community, and it's something that we anticipate, and we're sitting in here |
| 1696 | 02:24:55 --> 02:25:01 | waiting for it to form. Guess what? That gives you patience? It. It overcomes |
| 1697 | 02:25:01 --> 02:25:05 | fear. It manages anxiety. Because you know what you're looking for, and you |
| 1698 | 02:25:05 --> 02:25:09 | know why you're waiting for it. Because if it can create relative equal highs, |
| 1699 | 02:25:09 --> 02:25:13 | then you're going to wait for it to come back up to it and pierce it, and it does |
| 1700 | 02:25:13 --> 02:25:19 | it there. And then from that point, you want to see every premium array that |
| 1701 | 02:25:19 --> 02:25:23 | means, anything that ICT could use to get into a short idea, which one makes |
| 1702 | 02:25:23 --> 02:25:27 | the most sense to you. And that's your initial model. That's the one you |
| 1703 | 02:25:27 --> 02:25:31 | practice with. And it may morph into something different. It may be, you |
| 1704 | 02:25:31 --> 02:25:36 | know, they may it may not be fair value guys. For Caleb, he may end up becoming, |
| 1705 | 02:25:36 --> 02:25:40 | you know, an order box trigger. It's something else, you know. But I'm |
| 1706 | 02:25:40 --> 02:25:44 | forcing him to that way. He has a foundation because I don't know how to |
| 1707 | 02:25:44 --> 02:25:50 | address questions with him or direct him, and I don't have the ability, and I |
| 1708 | 02:25:50 --> 02:25:53 | don't have the time to do this for everybody. And I know some of you are |
| 1709 | 02:25:53 --> 02:25:58 | sending me stuff, and you're emailing me these long, really long emails, and I'm |
| 1710 | 02:25:58 --> 02:26:01 | sure there are some really nice things being said in there, but you're asking |
| 1711 | 02:26:01 --> 02:26:06 | me to have this one on one coaching type thing with you. I'm not doing that, so |
| 1712 | 02:26:06 --> 02:26:10 | please don't be offended by it, but I have no time or interest in doing that. |
| 1713 | 02:26:10 --> 02:26:15 | You're getting the best of the best because I'm sharing it with my son, and |
| 1714 | 02:26:15 --> 02:26:19 | you're getting an experience that I had no interest in having with anybody else. |
| 1715 | 02:26:19 --> 02:26:24 | So just be content with that. You clearly see it works. I mean, it works. |
| 1716 | 02:26:24 --> 02:26:29 | That's you want this kind of stuff. You want to be able to see the things that |
| 1717 | 02:26:29 --> 02:26:32 | supposedly, the person you paid or bought a course from, or a software |
| 1718 | 02:26:32 --> 02:26:35 | package or whatever. If it doesn't work, you'll, you'll see right away it doesn't |
| 1719 | 02:26:35 --> 02:26:40 | work. But on the other side of the coin is if it works, and it works really, |
| 1720 | 02:26:40 --> 02:26:45 | really well, and its logic is so sound that it's scary. Like this is |
| 1721 | 02:26:45 --> 02:26:50 | information that the general populace, they don't think like this. The average |
| 1722 | 02:26:50 --> 02:26:55 | traders don't think like this, and that's why it's hard for them to listen |
| 1723 | 02:26:55 --> 02:26:59 | to someone like me. And yeah, I make it entertaining for myself to be the prick, |
| 1724 | 02:27:00 --> 02:27:03 | the condescending prick when, when it's entertainment value, only because I knew |
| 1725 | 02:27:03 --> 02:27:08 | how to draw a crowd. That's the That's the purpose of it. I want people to |
| 1726 | 02:27:08 --> 02:27:11 | talk. I don't need to advertise, because if I say all the right things and push |
| 1727 | 02:27:11 --> 02:27:15 | buttons, they'll talk, and then it calls people's attention to my channel, and |
| 1728 | 02:27:15 --> 02:27:19 | then they'll come here, and then I'm giving them that litmus test, see if |
| 1729 | 02:27:19 --> 02:27:23 | it's real and see if it's not, if it doesn't, if it doesn't work and appear |
| 1730 | 02:27:23 --> 02:27:26 | in your charts, then it ain't real, right? And that means that you don't |
| 1731 | 02:27:26 --> 02:27:31 | have to ever come back and do anything with me. But I love converting people, |
| 1732 | 02:27:32 --> 02:27:36 | and I love it when they're coming at me as someone that is adversarial |
| 1733 | 02:27:36 --> 02:27:40 | initially, and I have lots of students like that. It's much more satisfying |
| 1734 | 02:27:40 --> 02:27:43 | doing that, if I can convert them. And they came here to either insult me or |
| 1735 | 02:27:43 --> 02:27:46 | try to say this that. Now, thing is, no, algorithm doesn't work, and all of a |
| 1736 | 02:27:46 --> 02:27:51 | sudden they're finding that it works. And they're like, dude, like this. I was |
| 1737 | 02:27:51 --> 02:27:54 | there. I was just like, the rest of you that talk shit about him, but I can't |
| 1738 | 02:27:54 --> 02:27:59 | say that now, because I'm making bread. I'm living on it. Now I love that. |
| 1739 | 02:28:00 --> 02:28:04 | That's how I scratch my ego. I get off on that that really gets my rocks off. |
| 1740 | 02:28:05 --> 02:28:12 | So it's an art at managing expectations, leading people enough to make them want |
| 1741 | 02:28:12 --> 02:28:17 | to talk about me, and then that creates traffic. And I never had to advertise, |
| 1742 | 02:28:17 --> 02:28:23 | because I know how to instill an interest that will cause other people to |
| 1743 | 02:28:23 --> 02:28:31 | draw other people to this channel. It's simple as that. And if I advertise, it |
| 1744 | 02:28:31 --> 02:28:34 | would have been worse. It would have been really blown up. I don't need to do |
| 1745 | 02:28:34 --> 02:28:40 | that, but you'll get to this point where you know exactly what you're doing, when |
| 1746 | 02:28:40 --> 02:28:43 | you're going to do it and when you don't want to do it, and you're not going to |
| 1747 | 02:28:43 --> 02:28:49 | have any regret when you do or don't because you're content. Being content as |
| 1748 | 02:28:49 --> 02:28:54 | a trader is such an elusive thing, and you think making lots of money should |
| 1749 | 02:28:54 --> 02:28:59 | equate to being content, and it won't. It won't be like that that doesn't lots |
| 1750 | 02:28:59 --> 02:29:04 | of money being made doesn't make you content lots of money, generally, is a |
| 1751 | 02:29:04 --> 02:29:12 | result of you chasing lots of money, being content with making plenty, and |
| 1752 | 02:29:12 --> 02:29:16 | not needing to try to worry about other people's opinion of how well they hold |
| 1753 | 02:29:16 --> 02:29:22 | an opinion of you. Caleb, is the wrong direction. There's a lots of people out |
| 1754 | 02:29:22 --> 02:29:27 | there that can't wait to see you be ICT 2.0 I'm looking for you to do the things |
| 1755 | 02:29:27 --> 02:29:33 | I wish I could go back in time and not have done, and I wish I could change |
| 1756 | 02:29:33 --> 02:29:38 | about me. I want to have that kind of impact on you and your development. I |
| 1757 | 02:29:38 --> 02:29:44 | want you to be humble when you make a lot of money, call no attention to it. |
| 1758 | 02:29:46 --> 02:29:51 | Call no attention to it, because other people in their learning, they're going |
| 1759 | 02:29:51 --> 02:29:55 | to be inspired by that, but there's a whole lot of other individuals. They're |
| 1760 | 02:29:55 --> 02:29:59 | going to see you and they're going to hate you because they're not going to |
| 1761 | 02:29:59 --> 02:30:04 | learn it as fast. Is you might learn it, or if you take longer, because it could |
| 1762 | 02:30:04 --> 02:30:08 | happen if you struggle a little bit longer than both of us think it's going |
| 1763 | 02:30:08 --> 02:30:12 | to take for you to do this. That's going to be a reassurance to some of them. And |
| 1764 | 02:30:12 --> 02:30:16 | they're going to be like, you know, I'm glad that he didn't go right into this, |
| 1765 | 02:30:16 --> 02:30:20 | because if you, if you take off, and you start doing really well, invariably, |
| 1766 | 02:30:20 --> 02:30:25 | they're going to say, It's me doing everything, and since you want to do |
| 1767 | 02:30:25 --> 02:30:30 | this and share every aspect of it, they're going to see that it ain't me |
| 1768 | 02:30:32 --> 02:30:36 | when you when you share your your feedback, when we're doing our weekend |
| 1769 | 02:30:36 --> 02:30:39 | reviews, and we're talking about what your observations were and what you |
| 1770 | 02:30:39 --> 02:30:43 | thought was going to happen. And it didn't happen that way. I expect you to |
| 1771 | 02:30:43 --> 02:30:50 | be really candid about it and say, Look, you know, this is what I thought. It |
| 1772 | 02:30:50 --> 02:30:56 | was, maybe discouraging. I want you initially to say where you thought it |
| 1773 | 02:30:56 --> 02:30:59 | was going to happen, and it happened, and I want you to share how it felt. And |
| 1774 | 02:30:59 --> 02:31:03 | then we're going to move away from that happy, good, feel good, you know, warm, |
| 1775 | 02:31:03 --> 02:31:09 | fuzzy stuff, because that needs to be outside of your trading the deep anxiety |
| 1776 | 02:31:09 --> 02:31:15 | and fear and worry that can't be part of it, and the elation of just being high |
| 1777 | 02:31:16 --> 02:31:20 | and you can't do anything wrong. You gotta keep that out of it, too. But in |
| 1778 | 02:31:20 --> 02:31:23 | the beginning, you want that more than anything, because that means it's |
| 1779 | 02:31:23 --> 02:31:26 | successful, that means you're doing everything right. And I'm telling you, |
| 1780 | 02:31:26 --> 02:31:30 | it's normal for you to feel that, but you can't have that as a steady diet, |
| 1781 | 02:31:30 --> 02:31:36 | because it will constantly be the goal. And that's not the goal. The goal is to |
| 1782 | 02:31:36 --> 02:31:42 | be indifferent. When you can get up and say, I know I can go out there and find |
| 1783 | 02:31:42 --> 02:31:48 | the next move. I know I can participate in it, but I don't have to. But I'm |
| 1784 | 02:31:48 --> 02:31:51 | choosing to sit down in front of Christ because this is what I anticipate it |
| 1785 | 02:31:51 --> 02:31:55 | doing, because this is what my back testing, my journaling, my dad's taught |
| 1786 | 02:31:55 --> 02:32:01 | me, and it works like Swiss time piece precision, and I have to get myself |
| 1787 | 02:32:01 --> 02:32:07 | acclimated to that precision and develop a synchronicity to that precision, |
| 1788 | 02:32:08 --> 02:32:13 | because you are not going to beat the market ever. Son, that's never going to |
| 1789 | 02:32:13 --> 02:32:19 | happen. The only thing you can aspire to do is get in sync with it. You're not |
| 1790 | 02:32:19 --> 02:32:22 | beating the market maker. You're not beating dad, okay, |
| 1791 | 02:32:23 --> 02:32:28 | you're just getting in sync with the market, and that's all you need. You |
| 1792 | 02:32:28 --> 02:32:34 | just need pieces of the week, from Sundays open to Friday's closed, where |
| 1793 | 02:32:34 --> 02:32:40 | everything is just right for you. Then sit down, follow the rules. Dad's |
| 1794 | 02:32:40 --> 02:32:45 | teaching, engage with it, and when it gives you what you're looking for, be |
| 1795 | 02:32:45 --> 02:32:50 | content, turn the charts off. That's exactly what I'm looking for. If you do |
| 1796 | 02:32:50 --> 02:32:55 | that, son, I will be the happiest, most, proudest dad I've ever been, because I |
| 1797 | 02:32:55 --> 02:32:59 | know that that will yield the interest with your brothers. And then they're |
| 1798 | 02:32:59 --> 02:33:01 | What are you going to do? They're going to do? They're going to try to pattern |
| 1799 | 02:33:01 --> 02:33:11 | themselves off of you, and that will send me over the moon. I'm not expecting |
| 1800 | 02:33:11 --> 02:33:15 | you to be an Olympic feet trader. I'm not expecting you to do any crazy town |
| 1801 | 02:33:15 --> 02:33:22 | stuff. I just want you to do just enough, and you'll see as soon as you |
| 1802 | 02:33:22 --> 02:33:26 | start making what you make at your job and how fast it can be done over the |
| 1803 | 02:33:26 --> 02:33:33 | course of a week with very little effort, then your mind will shift to |
| 1804 | 02:33:33 --> 02:33:40 | thinking, wow, if I'm only doing this much and I'm not emotionally driven to |
| 1805 | 02:33:40 --> 02:33:45 | do more. What happens when I allow money management to do all the heavy lifting, |
| 1806 | 02:33:46 --> 02:33:51 | and then your account starts to parlay and parlay and parlay, and you're not |
| 1807 | 02:33:51 --> 02:33:56 | doing any more effort than you did when you developed your own model. You're not |
| 1808 | 02:33:56 --> 02:34:00 | doing any more heavy lifting. You're just doing the same minuscule amount. |
| 1809 | 02:34:01 --> 02:34:06 | But the management of your money and the equity that it supports will do all the |
| 1810 | 02:34:06 --> 02:34:10 | heavy lifting. And you're never doing any more in terms of greater than 1% |
| 1811 | 02:34:10 --> 02:34:15 | risk. You're never going to assume a trade that has more than 1% risk. You're |
| 1812 | 02:34:15 --> 02:34:21 | not going to try to trade every session. You're not trying to trade more than one |
| 1813 | 02:34:21 --> 02:34:25 | time a day, and if you take a loss, you're done. And that's that's your |
| 1814 | 02:34:25 --> 02:34:30 | model. It's not I'm gonna go back and make it you're done. Those were the |
| 1815 | 02:34:30 --> 02:34:34 | things I should have done when I was 20. If I would have done that, my life would |
| 1816 | 02:34:34 --> 02:34:41 | be so much better if I would have done that instead of trying to meet Mr. |
| 1817 | 02:34:41 --> 02:34:51 | Wonderful, Mr. Everything, I put myself through stuff and cause all kinds of |
| 1818 | 02:34:51 --> 02:34:57 | mental scar tissue, chasing perfection, chasing more money, trying to outdo |
| 1819 | 02:34:57 --> 02:35:06 | everybody else when I had enough. I had enough to do exceptionally well and |
| 1820 | 02:35:06 --> 02:35:10 | never need to do anything else. But I kept tinkering and tinkering and |
| 1821 | 02:35:10 --> 02:35:14 | tinkering, and then now I took away from the real reasons why I was wanting to |
| 1822 | 02:35:14 --> 02:35:17 | trade was I wanted to live comfortably. I didn't want anybody tell me when I had |
| 1823 | 02:35:17 --> 02:35:21 | to go to work, when I can take a vacation and whatnot. And you're feeling |
| 1824 | 02:35:21 --> 02:35:26 | that right now, well, Mom and Dad, just say, well, we're out here. We're getting |
| 1825 | 02:35:26 --> 02:35:32 | up either get on the road and get on with the RV or if we just rent a car, |
| 1826 | 02:35:32 --> 02:35:37 | because I don't drive my personal cars and I go away, we can do that anytime we |
| 1827 | 02:35:37 --> 02:35:40 | want. And that's one of the things that my kids tell me all the time. I want to |
| 1828 | 02:35:40 --> 02:35:48 | live like you, dad. Okay, this is how you can get there, but it isn't going to |
| 1829 | 02:35:48 --> 02:35:53 | be fast. It isn't going to be easy in the beginning. But once you understand |
| 1830 | 02:35:53 --> 02:35:57 | these rules, once you understand what it is that you're trying to replicate every |
| 1831 | 02:35:57 --> 02:36:01 | time you do this, you're going to see it's the same stuff. In some days you'll |
| 1832 | 02:36:01 --> 02:36:05 | think you see it a certain way, and it won't pan out that way, and the outcome |
| 1833 | 02:36:05 --> 02:36:09 | will be adverse. It won't be a good thing. But it doesn't mean it changes |
| 1834 | 02:36:09 --> 02:36:13 | anything. It doesn't mean no longer works or you're not going to be |
| 1835 | 02:36:13 --> 02:36:18 | successful. It just means Okay, stop. If you have one bad result and you're |
| 1836 | 02:36:18 --> 02:36:24 | limited to only one exposure to the outcome, good or bad for that day, and |
| 1837 | 02:36:24 --> 02:36:30 | you stop. You can't be mad. You never are going to have an anxiety attack. |
| 1838 | 02:36:30 --> 02:36:33 | You're never going to be panicked about getting it back right away, because this |
| 1839 | 02:36:33 --> 02:36:37 | is the normal procedure. If I take a losing trade, I have to stop. That |
| 1840 | 02:36:37 --> 02:36:41 | prevents you from going into tilt, that prevents you from getting greedy. It |
| 1841 | 02:36:41 --> 02:36:44 | prevents you from being fearful of not knowing what to do, because you feel |
| 1842 | 02:36:44 --> 02:36:48 | like you gotta get it back, and you just try it again. You lost again. Now you |
| 1843 | 02:36:48 --> 02:36:52 | made a little loss now bigger. You'll never want to over trade. You'll never |
| 1844 | 02:36:52 --> 02:37:00 | need to over leverage. It becomes your job. You when you go to work, you're not |
| 1845 | 02:37:00 --> 02:37:03 | trying to do more than what your supervisor is asking you to do. Nobody |
| 1846 | 02:37:03 --> 02:37:08 | does. Nobody works like that. And your trading needs to be the same way. You |
| 1847 | 02:37:09 --> 02:37:13 | need to simply just look at and say, Well, this is, this is what I expect the |
| 1848 | 02:37:13 --> 02:37:17 | market's going to do. And I see this potentially being there as a setup, and |
| 1849 | 02:37:17 --> 02:37:20 | if I take it and I lose, okay, no problem. I'm going to turn the computer |
| 1850 | 02:37:20 --> 02:37:25 | off. I'm not going to give myself any toxic fuel to just worry myself into |
| 1851 | 02:37:26 --> 02:37:30 | anxiety or grief about it, and I'll try it again tomorrow. I'll log it tonight, |
| 1852 | 02:37:30 --> 02:37:35 | when the market's done and it's over, it's it. It's painless. It's literally |
| 1853 | 02:37:35 --> 02:37:42 | painless. That's a systematic approach of controlling fear and greed. But I |
| 1854 | 02:37:42 --> 02:37:46 | have a lot of students that hear me say that, and they know that that would |
| 1855 | 02:37:46 --> 02:37:50 | work, and that would have worked for them if they could stick to it. The |
| 1856 | 02:37:50 --> 02:37:55 | problem is, social media invites it. ICT live streaming now invites more of an |
| 1857 | 02:37:55 --> 02:38:01 | interest in doing stuff, and it's hard to say I'm not going to look at the |
| 1858 | 02:38:01 --> 02:38:04 | charts or trade anymore, especially if you have a losing trade, because you |
| 1859 | 02:38:04 --> 02:38:09 | feel like you got to fix it, and you don't need to fix it. You need to feel |
| 1860 | 02:38:09 --> 02:38:13 | what it feels like to go home with it and then over a course of a month and |
| 1861 | 02:38:13 --> 02:38:18 | see how that one or two or maybe five losing trades over the course of a month |
| 1862 | 02:38:18 --> 02:38:22 | has absolutely no real effect on what you're doing and direction you're going, |
| 1863 | 02:38:24 --> 02:38:29 | but you can't appreciate that just because I said it like anything else |
| 1864 | 02:38:29 --> 02:38:32 | when you were growing up, if I told you don't do this, you were the first one to |
| 1865 | 02:38:32 --> 02:38:36 | all the kids. Well, Dad said not to do it. Soon as dad turns around, I'm gonna |
| 1866 | 02:38:36 --> 02:38:42 | do I'm gonna do that. So I know it's, it's an inherent nature in anyone. But |
| 1867 | 02:38:42 --> 02:38:49 | of all my kids, you've had that in you. So I'm telling you, this is the best way |
| 1868 | 02:38:50 --> 02:38:56 | that you should go about it, and it's for your benefit to do it, and as a |
| 1869 | 02:38:56 --> 02:39:00 | default, I would be very, very proud if you are able to do it this way, because |
| 1870 | 02:39:00 --> 02:39:06 | that means you're going to be better than me. And I really want that, son. I |
| 1871 | 02:39:06 --> 02:39:11 | want you to be better than me in every aspect. And if you listen to me, you |
| 1872 | 02:39:11 --> 02:39:18 | will be and I can't wait to see it, but that's it for this one. I'm going to |
| 1873 | 02:39:18 --> 02:39:22 | close it, and I guess we'll be back at it again tomorrow at 915, Lord willing |
| 1874 | 02:39:23 --> 02:39:25 | and until I talk to you, then be safe. You. |