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Last modified by Drunk Monkey on 2024-08-13 07:58
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4
5 == Outline ==
6
7 ##06:12 -## Market analysis and trading strategies.
8
9 - 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.
10 - 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.
11 - ICT analyzes the market, identifying highs and lows to inform trading decisions.
12 - ICT highlights a minor sell side liquidity pool at 7am, with potential for disruption from the London session.
13
14 ##12:05 -## Market analysis and CPI/PPI data with little interest in directional moves.
15
16 - ICT suggests analyzing economic data with caution due to lack of news drivers.
17 - ICT deems directional market moves uninteresting, waits for intervention-induced price action instead.
18
19 ##15:45 -## Trading without economic data, focusing on price action insights.
20
21 - Trader prefers trading without economic data for better price action insights.
22
23 ##18:07 -## Trading strategies and market analysis.
24
25 - ICT emphasizes the importance of taking partial profits and being flexible in trading, even when there's big news coming up.
26 - ICT shares his strategy for managing emotions and avoiding losses in volatile markets, including taking partial profits and giving oneself flexibility.
27 - ICT looks for opportunities to trade based on liquidity and displacement.
28 - ICT wants to see price go below shaded areas and come back up for potential inversion.
29
30 ##24:06 -## Trading strategies for Monday mornings with market volatility.
31
32 - ICT avoids trading on Mondays before important economic data releases.
33 - Market volatility expected due to upcoming economic data releases.
34
35 ##27:36 -## New week opening gaps and their impact on market bias.
36
37 - ICT explains new week opening gaps and their impact on market bias.
38 - ICT discusses market inefficiencies and potential trading opportunities based on previous analysis.
39
40 ##31:11 -## Technical analysis and trading strategies in the forex market.
41
42 - ICT emphasizes the importance of understanding market patterns and trading to the midpoint.
43 - ICT says he's done trading and advises short-position holders to take profits.
44 - ICT recaps an old, clean level that could potentially fill, but warns against trading to it.
45 - ICT outlines rules for identifying buy side liquidity, including waiting for relative equal highs after 7 pm.
46 - ICT anticipates traders will run to fair value gap, bump highs, and drop lower, based on past behavior.
47
48 ##37:46 -## Trading strategies and risk management.
49
50 - 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.
51 - 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.
52
53 ##40:32 -## Trading strategies and mental discipline for market success.
54
55 - ICT shares his trading strategy with his son, emphasizing the importance of patience and logical reasoning.
56 - Caleb emphasizes the importance of developing discipline and mental capital in trading.
57 - He advises against obsessing over market outcomes and instead focuses on learning from experiences.
58
59 ##44:42 -## Trading strategies using economic calendar events.
60
61 - ICT explains how taking partial profits can help traders avoid significant losses and maintain a positive mindset.
62 - ICT highlights the importance of reacting to market stimuli and hunting for opportunities when stopped out prematurely.
63 - ICT analyzes market inefficiencies to identify trading opportunities.
64 - ICT waits for market to be "jagged" on opposing side of inefficiencies for entry.
65
66 ##50:31 -## Trading strategies and managing risk.
67
68 - ICT explains inefficiencies in the market and how to trade them.
69 - Trader shares trading strategies to create liquidity and attract attention.
70
71 ##54:06 -## Using narrative and time elements to predict market movements.
72
73 - ICT warns of misinterpretation of fair value gaps and market inefficiencies.
74 - ICT warns of failure in own hands due to lack of understanding, but success with experience.
75
76 ##57:16 -## Trading psychology and the importance of self-awareness.
77
78 - ICT emphasizes the importance of self-discovery in trading, citing the need for personal growth and development.
79 - ICT warns against relying on external factors for success, instead emphasizing the importance of internal factors like motivation and mindset.
80 - 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.
81 - The speaker discusses the importance of recognizing and addressing personal emotional and psychological factors that can impact trading performance.
82 - The speaker emphasizes the value of journaling and self-reflection in identifying and overcoming these factors.
83 - The speaker emphasizes the importance of having rules and protocols in place for trading, as it helps to avoid emotional responses and maintain control.
84 - 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.
85
86 ##01:05:20 -## Trading strategies using market analysis and order blocks.
87
88 - ICT emphasizes consistency in trading approach, refusing to adjust schedule for London session.
89 - Trader anticipates 20-30% retracement of previous week's range on Monday based on TGIF not materializing on Friday.
90
91 ##01:08:56 -## Technical analysis and trading strategies using candlestick patterns.
92
93 - Analyze morning session for potential run formation and directional bias.
94 - ICT explains how to identify bearish order blocks and trade with them.
95 - ICT demonstrates how to incorporate volume imbalances into gap measurements.
96 - ICT pushes away his laptop's touchpad while talking to someone, causing him to accidentally execute a trade.
97 - ICT dislikes seeing inefficiencies in his trades and prefers to see the algorithm executing as expected.
98 - ICT's dog, Piper, tries to get his attention while he's trading, causing distractions and making it difficult for him to focus.
99
100 ##01:16:48 -## Trading strategies and identifying price inefficiencies.
101
102 - ICT emphasizes the importance of identifying and respecting price inefficiencies to make informed trading decisions.
103 - ICT explains his price delivery continuum theory and trading strategy.
104
105 ##01:20:07 -## Identifying trading opportunities using candlestick patterns and stop-loss placement.
106
107 - ICT identifies gaps and inefficiencies in price action to place trades.
108 - ICT measures potential for market to reach new lows, then reverses.
109
110 ##01:23:56 -## Trading psychology and sentiment analysis using live streamers' chat windows.
111
112 - The speaker emphasizes the importance of understanding market dynamics and having a plan to cope with losses.
113 - The speaker highlights the value of demo trading and building experience to become profitable in the industry.
114 - The speaker warns against blindly following live streamers and their trading decisions without proper understanding and independent thinking.
115 - The speaker emphasizes the importance of being an independent thinker and not relying solely on others for trading ideas.
116 - ICT uses other live streamers' chat windows to analyze sentiment and identify trading opportunities.
117 - ICT's son Caleb watches and learns from his father's trading strategies, including using ICT as a sentiment indicator.
118
119 ##01:32:04 -## Trading strategies and time management.
120
121 - ICT emphasizes the importance of understanding market mechanics and trading rules, even when faced with unexpected events like a stop-out.
122 - Trader emphasizes importance of ICT time and waiting for relative highs and lows.
123
124 ##01:35:10 -## Using ICT to identify potential price movements based on time of day and clustering of new day opening gaps.
125
126 - ICT discusses using time and date analysis to identify potential trading opportunities.
127 - ICT outlines potential for directional run and sell side delivery based on new week opening gap.
128
129 ##01:38:53 -## Technical analysis and trading strategies using price action.
130
131 - ICT is looking for a bearish order block to form above old highs, waiting for price to pierce above relative equal highs.
132 - ICT emphasizes the importance of defining risk and using logic to enter trades, rather than relying on hindsight.
133 - Ict is looking at Piper's trading and identifying a bearish order block.
134 - Ict wants to use the low of a fair value gap as an entry point for a short trade.
135 - The speaker emphasizes the importance of understanding repeating patterns in price action to overcome fear and anxiety.
136 - The speaker teaches a live audience how to identify and trade these patterns, using examples from real-time market data.
137
138 ##01:45:52 -## Trading using technical analysis and probability.
139
140 - Trader regrets not learning this trading technique earlier, valuing it now.
141
142 ##01:48:07 -## Technical analysis and market manipulation.
143
144 - ICT argues that relying on indicators is pointless and instead, the market manipulates liquidity and runs in a predictable manner.
145 - The speaker observes a pattern in the market where price movements are influenced by live streamers' predictions.
146 - The speaker believes that having a baseline and measuring price movements can help break the cycle of emotional trading.
147
148 ##01:52:04 -## Technical analysis and trading strategies in the financial markets.
149
150 - 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.
151 - 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.
152 - The speaker shares their personal journey of growth through prayer and counseling, and how they arrived at an understanding of the market.
153 - The speaker provides their best insights and analysis to help others, despite not being obligated to do so.
154 - Ict shows how to read price movements by identifying fair value gaps, inversion fair value gaps, and order blocks.
155 - Ict demonstrates how to use up close candles to save off any advance higher and how to take profit from limit orders.
156
157 ##01:59:35 -## Trading and market analysis with emphasis on technical analysis and risk management.
158
159 - ICT emphasizes the importance of understanding market direction for successful trading.
160 - ICT emphasizes the importance of learning how to trade instead of relying on algorithms or gurus.
161 - ICT encourages traders to take personal responsibility and not overtrade or overleverage.
162
163 ##02:03:22 -## Trading strategies and frustration with students not understanding concepts.
164
165 - ICT explains that some of his students from 2016 are still not profitable, despite his efforts to help them.
166 - 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.
167 - The speaker is frustrated with their inability to explain a concept clearly, despite knowing it could be done differently.
168 - 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.
169
170 ##02:08:14 -## Trading and investing strategies using technical analysis.
171
172 - Father encourages son to trust trading process and have confidence in abilities.
173 - The speaker advises the listener to be humble and not act arrogant, even when successful, to avoid being seen as a celebrity.
174 - The speaker warns that focusing too much on others' opinions can lead to a personal reflection on oneself, causing self-doubt and anxiety.
175 - ICT discusses the importance of showing a losing trade to prove market concepts work (20 year old self loved seeing this)
176 - 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
177
178 ##02:15:19 -## Identifying market trends using time and price analysis.
179
180 - ICT explains his approach to identifying market direction based on time and price patterns.
181 - ICT: Mastering trading protocols for real-money success.
182
183 ##02:18:37 -## Learning technical analysis and understanding price movements.
184
185 - ICT emphasizes the importance of understanding market behavior and logic.
186 - The speaker promises to teach listeners how to read price movements like sheet music.
187
188 ##02:22:15 -## Trading strategies and managing expectations.
189
190 - Develop patience and anticipation by watching price action without trading, focusing on fair value gaps.
191 - The speaker emphasizes the importance of understanding market dynamics and anticipating setups to make informed trading decisions.
192 - The speaker shares their approach to identifying potential short ideas and managing risk, citing the value of patience and a solid foundation in trading.
193 - The speaker enjoys converting adversarial viewers into followers by providing valuable insights and entertainment.
194 - The speaker's approach to trading involves managing expectations, leading people to create traffic and interest in their channel without advertising.
195
196 ##02:29:17 -## Trading and personal development with a father's advice to his son.
197
198 - Caleb seeks mentorship, humility, and candor in his development.
199 - Father advises son on trading, emphasizing indifference and precision.
200
201 ##02:33:10 -## Trading strategies for beginners.
202
203 - The speaker regrets tinkering with their trading strategy instead of focusing on managing their money.
204 - The speaker's children want to live like them, indicating financial freedom and flexibility.
205 - ICT emphasizes the importance of controlling fear and greed in trading.
206 - Students struggle to adopt this approach due to social media and live streaming.
207 - ICT encourages listeners to adopt a systematic approach to trading and to be patient with themselves.
208
209 == Transcription ==
210
211 (% class="hover min" %)
212 |1 |00:01:00 ~-~-> 00:01:15 |ICT: Well, good morning, folks, how are you? Just give me a minute here or two.
213 |2 |00:01:19 ~-~-> 00:01:21 |Place you on mute for a Second. You
214 |3 |00:06:11 ~-~-> 00:06:19 |How do you check one? How do you check one? Okay, so we should, we should be
215 |4 |00:06:19 ~-~-> 00:06:26 |okay, okay, so we should, we should alright, good morning, folks. How are
216 |5 |00:06:26 ~-~-> 00:06:34 |you? Hope everybody's doing? Well, sorry for the delay. My wife is not here to
217 |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
218 |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
219 |8 |00:06:48 ~-~-> 00:06:53 |gonna be a casual one today. And just as a reminder, I will be here every day
220 |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
221 |10 |00:07:01 ~-~-> 00:07:08 |between 915, 925, ish, in that ballpark. There's a couple things I'm juggling my
222 |11 |00:07:08 ~-~-> 00:07:12 |personal life this this week that prevent me from doing a little bit
223 |12 |00:07:12 ~-~-> 00:07:18 |earlier start time. But with that said, just know that we'll have a live stream
224 |13 |00:07:18 ~-~-> 00:07:21 |just, I guess it, I guess the easiest way is just to, kind of like, head to
225 |14 |00:07:21 ~-~-> 00:07:26 |the channel you're going to you you're gonna want to be here, hang out around
226 |15 |00:07:26 ~-~-> 00:07:33 |915 and you'll probably see the, I guess, the logo for my YouTube channel.
227 |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
228 |17 |00:07:37 ~-~-> 00:07:42 |you right to the live stream. I don't know how to notify you otherwise, so I
229 |18 |00:07:42 ~-~-> 00:07:47 |just, I said, just anticipate between 915 and 925 you know today, which is
230 |19 |00:07:47 ~-~-> 00:07:56 |Monday, August 12 through Friday. So tomorrow and on Wednesday, we have some
231 |20 |00:07:56 ~-~-> 00:08:02 |high impact news drivers, the PPI CPI numbers, they're usually the ones that
232 |21 |00:08:02 ~-~-> 00:08:05 |tear your face off, and it's real hard to predict what they're going to do.
233 |22 |00:08:06 ~-~-> 00:08:12 |They're extremely manipulated. So just know that we'll be waiting for the
234 |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
235 |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
236 |25 |00:08:23 ~-~-> 00:08:30 |waiting for the market to be in. Around here, a little bit more the the YouTube
237 |26 |00:08:30 ~-~-> 00:08:36 |channel for my son, Caleb, last time I checked it, was about 12,000 ish
238 |27 |00:08:37 ~-~-> 00:08:40 |subscribers. Thank you for that. I'm sure there's probably gonna be a little
239 |28 |00:08:40 ~-~-> 00:08:43 |bit more people following it without actually subscribing. So it is what it
240 |29 |00:08:43 ~-~-> 00:08:50 |is, but he had to work this weekend, so that prevented us from having a session
241 |30 |00:08:50 ~-~-> 00:08:55 |together where we could review so I'm deferring that one. And if it becomes
242 |31 |00:08:55 ~-~-> 00:09:01 |impossible to do that, I will simply just do a video covering and revealing
243 |32 |00:09:01 ~-~-> 00:09:05 |the week and how his chart should look. And then he'll have to watch it, and
244 |33 |00:09:05 ~-~-> 00:09:10 |then we'll have to do a subsequent video where, you know, he can kind of like,
245 |34 |00:09:10 ~-~-> 00:09:16 |add his, uh, his view on but we have seven o'clock this morning, delineating
246 |35 |00:09:16 ~-~-> 00:09:20 |that here. This is kind of like what you should be doing, Caleb, and then we have
247 |36 |00:09:20 ~-~-> 00:09:27 |the run here, creating the initial buy side liquidity and the low taking that
248 |37 |00:09:27 ~-~-> 00:09:33 |out here. So we have a minor sell side liquidity pool resting right below here.
249 |38 |00:09:34 ~-~-> 00:09:37 |And you can see how we're working the initial sell side liquidity, which is
250 |39 |00:09:37 ~-~-> 00:09:41 |that low right there. Now, whenever I have a time where, if I'm looking at a
251 |40 |00:09:41 ~-~-> 00:09:45 |specific element of for instance, like seven o'clock, say yes, you're opening
252 |41 |00:09:45 ~-~-> 00:09:49 |time for your trading, as we were talking about last week. If you're going
253 |42 |00:09:49 ~-~-> 00:09:53 |to be looking at the charts and start watching prices early, at seven o'clock
254 |43 |00:09:53 ~-~-> 00:09:56 |in the morning, you're going to be met with something like this, where you'll
255 |44 |00:09:56 ~-~-> 00:10:01 |have a high right here to the left of your start time. And then actually right
256 |45 |00:10:01 ~-~-> 00:10:06 |at seven o'clock creates a high. Whenever it's like that, I'm going to
257 |46 |00:10:06 ~-~-> 00:10:11 |wait for the initial run, because I know it's probably going to take this high
258 |47 |00:10:11 ~-~-> 00:10:15 |up, and it's certainly probably going to, certainly probably hear that,
259 |48 |00:10:16 ~-~-> 00:10:22 |certainly probably just coined something else. The short term highest grade rate
260 |49 |00:10:22 ~-~-> 00:10:29 |at the seven o'clock candle. So that initial liquidity is an interest to me.
261 |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,
262 |51 |00:10:34 ~-~-> 00:10:38 |I'll give it some allowance. Okay, the trade there. I'm not trying to annotate
263 |52 |00:10:38 ~-~-> 00:10:43 |that high. I want to see the short term high here form and then start to trade
264 |53 |00:10:43 ~-~-> 00:10:47 |lower. And if it takes out that low, then I'm highlighting that high and I'm
265 |54 |00:10:47 ~-~-> 00:10:51 |highlighting that low. So now you can see we ran above this here. And if you
266 |55 |00:10:51 ~-~-> 00:10:58 |look at look scrub over here to the left, a little bit more. Michael, so you
267 |56 |00:10:58 ~-~-> 00:11:01 |have all these relative equal highs. The market did, in fact, make a run above
268 |57 |00:11:01 ~-~-> 00:11:13 |that. So that disrupted all that price action over there, which leaves this
269 |58 |00:11:13 ~-~-> 00:11:16 |low, which is a minor sell side liquidity. It's inside the range
270 |59 |00:11:16 ~-~-> 00:11:20 |starting at 7am but it's also inside the range that was formed from the run from
271 |60 |00:11:20 ~-~-> 00:11:27 |the London session, which is over here. Now, initially, when I'm looking at
272 |61 |00:11:27 ~-~-> 00:11:35 |this, my eye gravitates to this low, and it also gravitates to these lows here,
273 |62 |00:11:36 ~-~-> 00:11:40 |which is why I have, like I have this low in mine, this low and this low,
274 |63 |00:11:40 ~-~-> 00:11:44 |which is why I have all this highlighted as a layered sell side liquidity pool.
275 |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
276 |65 |00:11:48 ~-~-> 00:11:52 |equal to that, and it's also slightly higher than that. And then we have this
277 |66 |00:11:52 ~-~-> 00:11:57 |low here, even though this one disrupted, that I have to at least
278 |67 |00:11:57 ~-~-> 00:12:02 |consider that okay, the upside, where we had these relative equal highs, and we
279 |68 |00:12:02 ~-~-> 00:12:06 |had this old high here, which was initial buy side. We've already ran that
280 |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
281 |70 |00:12:12 ~-~-> 00:12:19 |made jagged initially, but we have no news data ahead of CPI and PPI going
282 |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
283 |72 |00:12:25 ~-~-> 00:12:31 |little bit more uncertain. I guess the right words would be. So you have to
284 |73 |00:12:31 ~-~-> 00:12:39 |pick your pick your shots a little bit more carefully, and kind of like
285 |74 |00:12:39 ~-~-> 00:12:44 |Amethyst and analysis, I got peanut butter on roof of my mouth too. I snuck
286 |75 |00:12:44 ~-~-> 00:12:50 |a bike before I gave to them. You have to do your analysis a little bit more
287 |76 |00:12:50 ~-~-> 00:12:55 |critical than if you had a high impact or news driver. That's medium impact
288 |77 |00:12:55 ~-~-> 00:13:00 |during the morning session. And since we have nothing of that this morning, and
289 |78 |00:13:00 ~-~-> 00:13:05 |then we have some really big heavy hitters for Tuesday and Wednesday. At
290 |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
291 |80 |00:13:13 ~-~-> 00:13:17 |until after that report comes out on Tuesday, and after the report comes out
292 |81 |00:13:17 ~-~-> 00:13:20 |on Wednesday. If you take a look at your economic calendar, you'll see what I'm
293 |82 |00:13:20 ~-~-> 00:13:24 |talking about. It's the PPI and CPI numbers. I don't ever care to know what
294 |83 |00:13:24 ~-~-> 00:13:28 |those numbers are actually stating. Because frankly, you know, like I
295 |84 |00:13:28 ~-~-> 00:13:33 |mentioned many times before, it's of no interest to me. I'm not going to be
296 |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
297 |86 |00:13:37 ~-~-> 00:13:40 |not giving me any kind of information that is actionable. So therefore I never
298 |87 |00:13:40 ~-~-> 00:13:45 |considered worrying about what the the raw data is. I'm sure some of you in
299 |88 |00:13:45 ~-~-> 00:13:51 |here listening that are very interested in the fundamental aspects of of the
300 |89 |00:13:51 ~-~-> 00:13:57 |market. And if that suits you, then you know, well done. I just don't have an
301 |90 |00:13:57 ~-~-> 00:14:02 |interest in that. So therefore I defer all of that to everyone that wants to
302 |91 |00:14:02 ~-~-> 00:14:07 |consider it useful. I look at the time when the market is likely to give those
303 |92 |00:14:07 ~-~-> 00:14:12 |types of runs, they go protracted, usually one directional, and then
304 |93 |00:14:12 ~-~-> 00:14:17 |sometimes they'll change on an aggressive reversal and go the other
305 |94 |00:14:17 ~-~-> 00:14:24 |direction. Most of the time it's just a one directional landslide, okay? Or just
306 |95 |00:14:24 ~-~-> 00:14:28 |blows up and goes straight up, and it's really unless you're really positioned
307 |96 |00:14:28 ~-~-> 00:14:32 |early on something in London or whatever, which I don't try to do that.
308 |97 |00:14:33 ~-~-> 00:14:40 |And to prove my very low interest in trying to be in a directional move for
309 |98 |00:14:40 ~-~-> 00:14:46 |CPR, ppi. I have on Twitter spaces in the past, mentioned what I thought was
310 |99 |00:14:46 ~-~-> 00:14:52 |going to potentially pan out and and what direction it may aim for, and true
311 |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
312 |101 |00:14:57 ~-~-> 00:15:02 |was right twice last year with the CPI. I. In ppi, but otherwise, I'm usually
313 |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
314 |103 |00:15:08 ~-~-> 00:15:13 |know, belabor the point and say, Okay, well, this is not advantageous for me.
315 |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
316 |105 |00:15:17 ~-~-> 00:15:23 |after that market is moving because of the intervention, because I don't know
317 |106 |00:15:23 ~-~-> 00:15:28 |where they're going to put the market right as that report comes out, and no
318 |107 |00:15:28 ~-~-> 00:15:32 |one really does, to be honest with you, no one knows that. And even if someone
319 |108 |00:15:32 ~-~-> 00:15:37 |had a inkling, I'm confident that if a position was placed large enough ahead
320 |109 |00:15:37 ~-~-> 00:15:40 |of it, they would run it the other way, just for the sake of upsetting it. So
321 |110 |00:15:40 ~-~-> 00:15:46 |that's the conspiratorial mindset of my of like of Michael, right? So I'm not
322 |111 |00:15:46 ~-~-> 00:15:50 |interested in worrying about all those types of things. When we look at the
323 |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
324 |113 |00:16:00 ~-~-> 00:16:11 |like this, where there's no there's no real data to concern ourselves with and
325 |114 |00:16:11 ~-~-> 00:16:13 |trading the afternoon. But
326 |115 |00:16:14 ~-~-> 00:16:18 |if there's things that are in the marketplace that are more conducive for
327 |116 |00:16:18 ~-~-> 00:16:24 |taking trade setups, looking for price runs that move to a logical price level
328 |117 |00:16:24 ~-~-> 00:16:31 |where it's it's really telling it gives you insight that, I guess goes against
329 |118 |00:16:31 ~-~-> 00:16:36 |the grain of retail stuff like supposed diagonal support and resistance, or
330 |119 |00:16:36 ~-~-> 00:16:42 |indicator crossovers or oversold that type of thing. If I have those types of
331 |120 |00:16:42 ~-~-> 00:16:47 |advantages in price action, and they're they're hinting to the likelihood of
332 |121 |00:16:48 ~-~-> 00:16:51 |that arm wrestling match I talked about last week, where we have smart money
333 |122 |00:16:51 ~-~-> 00:16:56 |concepts, time and price and liquidity and inefficiencies, if that's arm
334 |123 |00:16:56 ~-~-> 00:17:02 |wrestling, if it's arm wrestling, the central tenants that go along with
335 |124 |00:17:02 ~-~-> 00:17:12 |retail trading concepts and things that lead to, in my opinion, guessing, I
336 |125 |00:17:12 ~-~-> 00:17:17 |guess it's more appropriate for me. I'm not saying it should be appropriate for
337 |126 |00:17:17 ~-~-> 00:17:22 |you, but if you have a an affinity for just trying to trade every morning
338 |127 |00:17:22 ~-~-> 00:17:26 |session, because that's your operating hours. You know, if you have those types
339 |128 |00:17:26 ~-~-> 00:17:31 |of things in play and you can identify them, you don't really need economic
340 |129 |00:17:31 ~-~-> 00:17:38 |calendar to, I guess, push, push a narrative or push a sentiment. You can
341 |130 |00:17:38 ~-~-> 00:17:41 |just trade the just the price action itself. You don't need a whole lot that
342 |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
343 |132 |00:17:48 ~-~-> 00:17:54 |like promote the idea that an economic calendar behind you, moving with the
344 |133 |00:17:54 ~-~-> 00:17:58 |ideas that you're looking for. Technically, that, my opinion is better.
345 |134 |00:17:59 ~-~-> 00:18:03 |So when you have a morning without economic data, it becomes a whole lot
346 |135 |00:18:03 ~-~-> 00:18:07 |more problematic in terms of seeing sustained price runs. You have to know
347 |136 |00:18:07 ~-~-> 00:18:11 |what you're looking for, where you're looking to take profits partials move
348 |137 |00:18:11 ~-~-> 00:18:19 |quickly to protect your position, not try to look for home runs. Give yourself
349 |138 |00:18:19 ~-~-> 00:18:24 |flexibility, knowing that you potentially may get it wrong because you
350 |139 |00:18:24 ~-~-> 00:18:28 |have big news on the following day and day after. In this case, we have that
351 |140 |00:18:28 ~-~-> 00:18:33 |with ppi and CPI. So it's important to pay yourself if you get the opportunity
352 |141 |00:18:33 ~-~-> 00:18:38 |to do so, give yourself the opportunity to see if it can run. But don't punish
353 |142 |00:18:38 ~-~-> 00:18:44 |yourself if it doesn't. Case in point, right here, partials always pay. You
354 |143 |00:18:44 ~-~-> 00:18:48 |never have to worry about being right or wrong. Once you take your first partial,
355 |144 |00:18:48 ~-~-> 00:18:53 |it completely removes all of that necessity about being right or wrong. So
356 |145 |00:18:53 ~-~-> 00:18:57 |let me cancel this order, because it should have given it to me, in my
357 |146 |00:18:57 ~-~-> 00:19:03 |opinion, should have went down there, but it didn't so because it came back, I
358 |147 |00:19:03 ~-~-> 00:19:08 |have to sit and relax and give some more time to the marketplace. We have the
359 |148 |00:19:08 ~-~-> 00:19:11 |opening rain still here. I think we'll still come down in here, even though it
360 |149 |00:19:11 ~-~-> 00:19:17 |took me out before it actually did it. But this would have been a a transaction
361 |150 |00:19:17 ~-~-> 00:19:25 |that would not take away from the equity it added to when we have opportunities
362 |151 |00:19:25 ~-~-> 00:19:30 |to see the price action move in our favor. And we don't take partials if we
363 |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
364 |153 |00:19:38 ~-~-> 00:19:42 |before it gets to our major objective, or our terminus, our main target. If
365 |154 |00:19:42 ~-~-> 00:19:46 |that's not the case for your trading right now, you need to start adopting
366 |155 |00:19:46 ~-~-> 00:19:49 |that because especially with the volatility that's in the markets today.
367 |156 |00:19:49 ~-~-> 00:19:54 |You're not saying specifically today, but you know in recent months, in years,
368 |157 |00:19:54 ~-~-> 00:20:00 |that volatility is going to give you a whole lot more adversity. You. The
369 |158 |00:20:00 ~-~-> 00:20:05 |markets had come back multiple times into the general vicinity where you
370 |159 |00:20:05 ~-~-> 00:20:09 |entered the trade at. And when you have the potential for the market to pull
371 |160 |00:20:09 ~-~-> 00:20:14 |that deeply back into your trade, if you don't know what you're looking for, if
372 |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
373 |162 |00:20:18 ~-~-> 00:20:24 |no idea what it's doing, it's better just to take that victory, whatever that
374 |163 |00:20:24 ~-~-> 00:20:29 |was. In this case, you see a limit order was filled. You see the stop loss was
375 |164 |00:20:29 ~-~-> 00:20:34 |brought down to protect the underlying position, and it came back just to take
376 |165 |00:20:34 ~-~-> 00:20:38 |it. And now we're back inside the range created from that run here to that short
377 |166 |00:20:38 ~-~-> 00:20:42 |term high, and we have yet still to take out. Let me take these little
378 |167 |00:20:42 ~-~-> 00:20:48 |identifiers off for a second so you can see just fell short of running into
379 |168 |00:20:48 ~-~-> 00:20:56 |that. Okay. Now these are the the little Gremlins, okay, the little Gremlins that
380 |169 |00:20:56 ~-~-> 00:21:01 |creep in to your trading. And you can get emotional about it. You can get mad
381 |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
382 |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
383 |172 |00:21:11 ~-~-> 00:21:17 |certain signatures to pan out. It gave me the opportunity and displacement, and
384 |173 |00:21:17 ~-~-> 00:21:22 |it ran to obvious levels of liquidity. It took out this short term low I wasn't
385 |174 |00:21:22 ~-~-> 00:21:26 |interested in having any limit orders below that. This one here, I like that.
386 |175 |00:21:26 ~-~-> 00:21:31 |And I have this one shaded orange here, okay. And what that means is, I want to
387 |176 |00:21:31 ~-~-> 00:21:36 |see it, get below it, it, each one, each one of these candles, hasn't really
388 |177 |00:21:36 ~-~-> 00:21:45 |given me a kind of like a trade below it. Spend some time below it and then
389 |178 |00:21:45 ~-~-> 00:21:49 |come back up and tap into it as a potential inversion fair value gap. If
390 |179 |00:21:49 ~-~-> 00:21:53 |you ever looking at my charts, if I'm sharing shaded areas on price, if it's
391 |180 |00:21:53 ~-~-> 00:22:01 |shaded orange, like this to me, okay, my interest is some some facet of seeing
392 |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
393 |182 |00:22:07 ~-~-> 00:22:11 |it doesn't want to get back above it. If I start watching candlesticks promote
394 |183 |00:22:11 ~-~-> 00:22:16 |that idea, and then I see a displacement, I might invite the
395 |184 |00:22:16 ~-~-> 00:22:21 |opportunity for them to put me into a short with a fair value gap, a
396 |185 |00:22:21 ~-~-> 00:22:27 |institutional order flow entry drill, I don't know, maybe a bearish order block,
397 |186 |00:22:27 ~-~-> 00:22:32 |something, something to that effect, but it hasn't given me enough information
398 |187 |00:22:32 ~-~-> 00:22:36 |here to justify that yet. So I'm watching to see if they just take out
399 |188 |00:22:36 ~-~-> 00:22:40 |this short term high, and then what they do after that, it was to take like this
400 |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
401 |190 |00:22:46 ~-~-> 00:22:52 |below this one here, then I may entertain the idea of maybe trading that
402 |191 |00:22:52 ~-~-> 00:23:00 |down below here. I do really like the idea that they've kept this low and this
403 |192 |00:23:00 ~-~-> 00:23:05 |low in the kind of like in the rule book, if you will, that now we have
404 |193 |00:23:05 ~-~-> 00:23:11 |relative equal lows there, and this one here has a lot of liquidity in it,
405 |194 |00:23:11 ~-~-> 00:23:16 |because we have it's, it's 5am it's during the close of the London session.
406 |195 |00:23:17 ~-~-> 00:23:21 |So we see the market wanting to reach down into that, but then stop short of
407 |196 |00:23:21 ~-~-> 00:23:32 |it, okay, and I'm quite certain that Phil, P, H, I, L, yeah. Said No, not
408 |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
409 |198 |00:23:36 ~-~-> 00:23:48 |stop. But who's Phil? I them. So I'm interested in seeing, does it now want
410 |199 |00:23:48 ~-~-> 00:23:53 |to go down below this area here, come back up and then does it displace it?
411 |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
412 |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
413 |202 |00:24:01 ~-~-> 00:24:04 |importance of knowing when these high impact news drivers on the economic
414 |203 |00:24:04 ~-~-> 00:24:08 |calendar like we have a Monday Okay? Generally, I'm not a real big fan of
415 |204 |00:24:08 ~-~-> 00:24:13 |Mondays. I like to see other traders go out there, put their neck on the block,
416 |205 |00:24:13 ~-~-> 00:24:20 |and then see what the general consensus and sentiment is on a given week where
417 |206 |00:24:20 ~-~-> 00:24:26 |we don't have Non Farm Payroll. Okay, so if we have Non Farm Payroll, I'm
418 |207 |00:24:26 ~-~-> 00:24:29 |interested in trading on Mondays. Every single Monday that has Non Farm Payroll,
419 |208 |00:24:29 ~-~-> 00:24:35 |Friday, I'm trading and engaging on Mondays trading. I'm absolutely looking
420 |209 |00:24:35 ~-~-> 00:24:40 |for moves to do you know, something that gets me into a trade. Generally, I'm not
421 |210 |00:24:40 ~-~-> 00:24:47 |interested in Mondays otherwise, and because of that, I'm trying to counsel
422 |211 |00:24:47 ~-~-> 00:24:52 |my son and his brothers. If they watch these videos too, I'm hoping it will
423 |212 |00:24:52 ~-~-> 00:24:59 |inspire them to do it as well, but they shouldn't be trying to trade on a
424 |213 |00:24:59 ~-~-> 00:25:03 |Monday. It's. In the morning session, ahead of ppi and CPI numbers like like
425 |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
426 |215 |00:25:12 ~-~-> 00:25:15 |really try to trade on this. Because I know a lot of my students will say, and
427 |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
428 |217 |00:25:19 ~-~-> 00:25:23 |views and ad revenue or attention, they'll say, ICT never trades and or he
429 |218 |00:25:23 ~-~-> 00:25:26 |says, never trade on Monday. And then they'll show their after the fact trade,
430 |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,
431 |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
432 |221 |00:25:35 ~-~-> 00:25:40 |other people do and they make money. I'm not arguing that, but what I'm saying
433 |222 |00:25:40 ~-~-> 00:25:45 |is, because you're here watching my content, the interest is you're wanting
434 |223 |00:25:45 ~-~-> 00:25:50 |to know my opinion, or what I'm thinking, or what makes me tick about an
435 |224 |00:25:50 ~-~-> 00:25:53 |idea about a market going higher or lower, and what do I look for in terms
436 |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
437 |226 |00:25:59 ~-~-> 00:26:00 |taking those traits,
438 |227 |00:26:02 ~-~-> 00:26:08 |it's important for my son to know it's problematic on days like this, because,
439 |228 |00:26:08 ~-~-> 00:26:11 |number one, it's the morning session. Everybody's chomping at the bit to do
440 |229 |00:26:11 ~-~-> 00:26:19 |something, and large pools of liquidity, big, big players in the marketplace are
441 |230 |00:26:19 ~-~-> 00:26:23 |not going to position this morning, because they know what's waiting on
442 |231 |00:26:23 ~-~-> 00:26:28 |Tuesday and Wednesday. So because of that, just know that you're going to see
443 |232 |00:26:28 ~-~-> 00:26:32 |a lot of this type of action where it's up, down, it's real skittish, meaning
444 |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
445 |234 |00:26:36 ~-~-> 00:26:42 |becomes very, very sloppy, real quick. And it becomes almost seek and destroy
446 |235 |00:26:42 ~-~-> 00:26:45 |like now what is seek and destroy. Seek and Destroy is where the market will go
447 |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
448 |237 |00:26:50 ~-~-> 00:26:53 |low, then come back up, take out that short term high that was just formed,
449 |238 |00:26:53 ~-~-> 00:26:56 |and then vice versa, go back and forth, back and forth. And it kind of runs you
450 |239 |00:26:56 ~-~-> 00:27:00 |over, even if you're in a position, as you saw here, the opening the stream,
451 |240 |00:27:01 ~-~-> 00:27:05 |even though I can be right in the direction and I can see where it wants
452 |241 |00:27:05 ~-~-> 00:27:10 |to potentially go, la here we are, it can still come back and take me out.
453 |242 |00:27:10 ~-~-> 00:27:15 |Now, if it wasn't a Monday with a ppi and CPI numbers coming out on Tuesday
454 |243 |00:27:15 ~-~-> 00:27:20 |and Wednesday, I would go back in in short up here, but because it's not
455 |244 |00:27:21 ~-~-> 00:27:26 |conducive for that, because we have huge news coming out Tuesday and Wednesday. I
456 |245 |00:27:26 ~-~-> 00:27:30 |know that the probabilities are likely. Didn't think I saw that coming. Did you
457 |246 |00:27:30 ~-~-> 00:27:37 |feel the high being bumped there and then trading lower? Here is the new week
458 |247 |00:27:37 ~-~-> 00:27:43 |opening gap high. So the bias, as I was teaching last week. Here's your new week
459 |248 |00:27:43 ~-~-> 00:27:48 |opening gap for this week, we had price above it. It rallied up. It took
460 |249 |00:27:48 ~-~-> 00:27:54 |liquidity, and where's the draw going to be? Where's that like black hole of of
461 |250 |00:27:54 ~-~-> 00:27:59 |just constant tension and pressure to pull price? Caleb, it's the new week
462 |251 |00:27:59 ~-~-> 00:28:04 |opening gaps. Okay, so if we have that, and we have
463 |252 |00:28:10 ~-~-> 00:28:18 |an old New Day opening gap here, we'll have a new one tonight, when 5pm comes,
464 |253 |00:28:18 ~-~-> 00:28:24 |and then we have the opening at 6pm we'll create another new day opening
465 |254 |00:28:24 ~-~-> 00:28:28 |gap, but right now we have to work with new week opening gap and old. Remember,
466 |255 |00:28:28 ~-~-> 00:28:32 |I told you last week that the new day opening gaps have a shelf life, or life
467 |256 |00:28:32 ~-~-> 00:28:37 |cycle, not that it's limited to five days, but if you work with them in that
468 |257 |00:28:37 ~-~-> 00:28:41 |perspective, you'll see how the market uses this idea where it gravitates back
469 |258 |00:28:41 ~-~-> 00:28:46 |and forth towards towards these levels. They're inefficiencies that will be used
470 |259 |00:28:46 ~-~-> 00:28:52 |again, like a magnet will draw price to it. So when we're looking at bias, these
471 |260 |00:28:52 ~-~-> 00:28:56 |are going to be your first central tenants to trying to derive what that
472 |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
473 |262 |00:29:02 ~-~-> 00:29:07 |Sunday or yesterday evening, 6pm in relationship to, I guess if I scroll
474 |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
475 |264 |00:29:15 ~-~-> 00:29:18 |than 20 handles. So therefore I'm not really interested in imitating the
476 |265 |00:29:18 ~-~-> 00:29:21 |quadrants inside of it. You can eyeball it is about halfway here in Upper
477 |266 |00:29:21 ~-~-> 00:29:25 |quadrants here in lower quadrants there. And if it gets trade, if it can trade
478 |267 |00:29:25 ~-~-> 00:29:32 |through that. And then we go back into New Day opening gap of the ninth. Okay,
479 |268 |00:29:32 ~-~-> 00:29:35 |so that's Friday's New Day opening gap that would have been formed and
480 |269 |00:29:35 ~-~-> 00:29:41 |calibrated from Thursday evening New York local time. It's Thursday's 5pm
481 |270 |00:29:41 ~-~-> 00:29:47 |closing price and settlement, and then 6pm one hour later, new session opening.
482 |271 |00:29:48 ~-~-> 00:29:51 |So between those two price points, you get it here and again, it's not
483 |272 |00:29:51 ~-~-> 00:29:54 |annotating the quadrants or midpoint because it's less than 20 handles, okay.
484 |273 |00:29:54 ~-~-> 00:30:00 |So if we have a previous New Day opening, Guy below price, and we. Have
485 |274 |00:30:00 ~-~-> 00:30:05 |new week opening gap here, and the market was made jagged here, and we have
486 |275 |00:30:05 ~-~-> 00:30:09 |inefficiencies that we're respecting it, the market's going to do what at the
487 |276 |00:30:09 ~-~-> 00:30:14 |opening bell? It's going to gravitate in the direction of these old
488 |277 |00:30:14 ~-~-> 00:30:18 |inefficiencies, because the market is algorithmic, so it has to refer back to
489 |278 |00:30:18 ~-~-> 00:30:21 |those same things I was teaching last week, so that way we're not sitting here
490 |279 |00:30:21 ~-~-> 00:30:25 |staring at bookmap charts, okay, or things like that, talking about
491 |280 |00:30:25 ~-~-> 00:30:30 |nonsense, and the whole time the market's moving and not having had a
492 |281 |00:30:30 ~-~-> 00:30:36 |trade, or even knowing the bias, there you go. So you want to screenshot that.
493 |282 |00:30:36 ~-~-> 00:30:39 |Okay? You want to screenshot it again and put it on your calendar. The ICT was
494 |283 |00:30:39 ~-~-> 00:30:43 |talking about this stuff last week and talked about it live, coming back up and
495 |284 |00:30:43 ~-~-> 00:30:48 |just bumping this high here and then ripping it down. Here's your open
496 |285 |00:30:48 ~-~-> 00:30:52 |trades. Back up. Touch this touches the bottom of the inversion fair value got.
497 |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
498 |287 |00:30:57 ~-~-> 00:31:04 |lower, eats right on through all of the layered liquidity here, upper quadrant,
499 |288 |00:31:04 ~-~-> 00:31:09 |level trades lower. And look at the bodies, how the bodies are stocking,
500 |289 |00:31:09 ~-~-> 00:31:15 |right new week, opening gap. See that beautiful. So it's probably random. All
501 |290 |00:31:15 ~-~-> 00:31:21 |this stuff probably is working off of, you know, some classic Steve Nielsen
502 |291 |00:31:21 ~-~-> 00:31:22 |chart pattern.
503 |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
504 |293 |00:31:35 ~-~-> 00:31:41 |the idea of looking at bias, I gave you those elements last week, okay, and
505 |294 |00:31:41 ~-~-> 00:31:46 |using them, fortifying that as part of your repertoire and your regimen, your
506 |295 |00:31:47 ~-~-> 00:31:52 |guidance that I gave you last week. As you can see, all those rules are still
507 |296 |00:31:52 ~-~-> 00:31:58 |here. They're still here, and we're trading down into the previous Friday or
508 |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
509 |298 |00:32:10 ~-~-> 00:32:15 |look at these, these ideas, and think this is pretty complicated. It's very
510 |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
511 |300 |00:32:21 ~-~-> 00:32:24 |you're getting exposed to it for the first time, and because you have tick
512 |301 |00:32:24 ~-~-> 00:32:29 |tock mentality. You think it should be understood in 30 seconds, you know? And
513 |302 |00:32:29 ~-~-> 00:32:33 |it's not going to be like that. You first of all, you have your brain
514 |303 |00:32:34 ~-~-> 00:32:39 |clogged up with with nonsense and things that other people sold you in books and
515 |304 |00:32:39 ~-~-> 00:32:43 |courses and lied to you and said, This is what the market does, and this is how
516 |305 |00:32:43 ~-~-> 00:32:47 |it works, and smart money concepts are nonsense, and there's no algorithm. But
517 |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
518 |307 |00:32:50 ~-~-> 00:32:58 |going to see this stuff working again. Here it is, okay, but trading to the
519 |308 |00:32:58 ~-~-> 00:33:03 |midpoint, okay? Or consequent encouragement that ends my interest in
520 |309 |00:33:03 ~-~-> 00:33:07 |the morning session. It could come back up into this and then rotate one more
521 |310 |00:33:07 ~-~-> 00:33:11 |time, just to take that low out and trade the consequent encouragement and
522 |311 |00:33:11 ~-~-> 00:33:13 |that would complete my day, or my morning session, or the interest
523 |312 |00:33:13 ~-~-> 00:33:18 |thereof. I would not be interested in trying to buy it. I would not be trying
524 |313 |00:33:18 ~-~-> 00:33:23 |to go long. I would not be trying to go into a short that that hopefully moves
525 |314 |00:33:23 ~-~-> 00:33:28 |200 handles or plus, that would completely be against my expectations.
526 |315 |00:33:28 ~-~-> 00:33:33 |And why would I have that opinion about not doing much more, or having an
527 |316 |00:33:33 ~-~-> 00:33:38 |interest greater than than I've outlined here, which would be consequence number
528 |317 |00:33:38 ~-~-> 00:33:45 |one, it's already moved one sided. It's had a really nice displacement. Lower
529 |318 |00:33:45 ~-~-> 00:33:49 |just, really, just tore off. Went a lot lower than most of you probably were
530 |319 |00:33:49 ~-~-> 00:33:53 |expecting. But it went right to the levels I was showing you here in the
531 |320 |00:33:53 ~-~-> 00:33:57 |live stream. It was, it was, it was going to draw to these levels, because
532 |321 |00:33:57 ~-~-> 00:34:04 |we've made a run higher during London, we rallied up, bumped a previous high,
533 |322 |00:34:06 ~-~-> 00:34:10 |and then we had the market create jaggedness, as I was talking about,
534 |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
535 |324 |00:34:15 ~-~-> 00:34:18 |would move into sidelines, and everybody that's been following along and went
536 |325 |00:34:18 ~-~-> 00:34:23 |short, take your profits and be content. Okay, I don't care if it goes lower.
537 |326 |00:34:23 ~-~-> 00:34:28 |Just take your profits and move design. I know, I know you guys are following
538 |327 |00:34:28 ~-~-> 00:34:30 |this, and you're thinking, he's got these levels on there, and I know it's
539 |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
540 |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.
541 |330 |00:34:38 ~-~-> 00:34:41 |Please don't. Don't give me high fives in the comments. Actually, even I'm the
542 |331 |00:34:41 ~-~-> 00:34:45 |only one that can see that don't do that, because every single time I see a
543 |332 |00:34:45 ~-~-> 00:34:48 |wave of people doing that, and they're like, thank you so much. I took a trade
544 |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
545 |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
546 |335 |00:34:56 ~-~-> 00:35:02 |take a quick look, real quick, and. Recap what was going on. We have an old,
547 |336 |00:35:04 ~-~-> 00:35:09 |clean level over here, which very well could, don't. Could go up there and bump
548 |337 |00:35:09 ~-~-> 00:35:13 |that, but we have to use the rules, as I outlined last week, where you start
549 |338 |00:35:13 ~-~-> 00:35:18 |looking at seven o'clock and you're going to wait for relative equal highs.
550 |339 |00:35:19 ~-~-> 00:35:24 |Okay, relative equal highs, boom, boom. What's this high in relationship to that
551 |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
552 |341 |00:35:29 ~-~-> 00:35:35 |doesn't that mean that that meets the criteria, doesn't it? Yes? So when you
553 |342 |00:35:35 ~-~-> 00:35:39 |have this or the candle at seven o'clock, you know, it just starts to
554 |343 |00:35:39 ~-~-> 00:35:43 |drop down from there. I'm not interested to ever classifying that as the initial
555 |344 |00:35:44 ~-~-> 00:35:49 |point of buy side liquidity. I'm not interested in that. I'll wait and defer
556 |345 |00:35:49 ~-~-> 00:35:53 |my actions on annotating and labeling, because I know just to the left of that
557 |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
558 |347 |00:35:59 ~-~-> 00:36:02 |case you missed it, or I didn't give you a good enough explanation what I meant
559 |348 |00:36:02 ~-~-> 00:36:06 |earlier, when we first started talking, it's in the rules I told you last week.
560 |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
561 |350 |00:36:09 ~-~-> 00:36:14 |lectures. So you're going to wait. So if you're if your starting point is not
562 |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,
563 |352 |00:36:22 ~-~-> 00:36:28 |right there. Okay, the same thing you're going to refer to any relative equal
564 |353 |00:36:28 ~-~-> 00:36:32 |highs that have not been pierced or breached, that formed after seven
565 |354 |00:36:32 ~-~-> 00:36:38 |o'clock, but sometimes they will already have taken them out. And then you'll
566 |355 |00:36:38 ~-~-> 00:36:42 |have to sit and wait and wait for your own relative equal highs or relative
567 |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
568 |357 |00:36:48 ~-~-> 00:36:53 |hour, you have several other factors that you can use. Okay, the opening
569 |358 |00:36:53 ~-~-> 00:36:58 |range, as I was showing Caleb last Friday. You all as students, are
570 |359 |00:36:58 ~-~-> 00:37:02 |familiar with this, because I've shown this before, using the regular trading
571 |360 |00:37:02 ~-~-> 00:37:06 |hours. So if we were looking at it this way,
572 |361 |00:37:14 ~-~-> 00:37:18 |are you mad? ICT, they stopped you out before it dropped? No, because I know
573 |362 |00:37:18 ~-~-> 00:37:23 |this is going to work again. It doesn't just work on one day. Okay, it works
574 |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
575 |364 |00:37:30 ~-~-> 00:37:33 |explain to you that they would probably run it to this fair value gap, maybe
576 |365 |00:37:33 ~-~-> 00:37:39 |bump and clear the highs and then drop it lower, so I can anticipate, and this
577 |366 |00:37:39 ~-~-> 00:37:41 |is what experience, and this is also a little bit understanding the source
578 |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
579 |368 |00:37:50 ~-~-> 00:37:53 |someone that may hear that and think, Wait a minute, if you know you're going
580 |369 |00:37:53 ~-~-> 00:37:58 |to be wrong or you're potentially going to be wrong, like that's not bragging
581 |370 |00:37:58 ~-~-> 00:38:01 |rights, you know, if you know you're going to be wrong, why'd you take the
582 |371 |00:38:01 ~-~-> 00:38:05 |trade? Well, there's gonna be times where you get into a trade, and when you
583 |372 |00:38:05 ~-~-> 00:38:09 |take that trade, it seems appropriate, and then the things that you were
584 |373 |00:38:09 ~-~-> 00:38:13 |looking for start fizzling out, and they are no no longer supporting your trade.
585 |374 |00:38:14 ~-~-> 00:38:18 |So it becomes a much more likelihood that you're not going to get the
586 |375 |00:38:18 ~-~-> 00:38:23 |objective you're you're seeking. And if it's something that you anticipate
587 |376 |00:38:23 ~-~-> 00:38:27 |potentially closing the trade on you prematurely, wouldn't you want to move
588 |377 |00:38:27 ~-~-> 00:38:31 |your stop loss in an advantageous location, so that way, if it was the
589 |378 |00:38:31 ~-~-> 00:38:38 |reverse on you, you still go home with something, not a loss. That's that's the
590 |379 |00:38:38 ~-~-> 00:38:43 |parts that comes from learning from me talking when I'm talking about specific
591 |380 |00:38:43 ~-~-> 00:38:47 |things, if you don't have a frame of reference to refer to, the logic as to,
592 |381 |00:38:48 ~-~-> 00:38:53 |why is the trade still viable? Why should I hold the trade? What prevents
593 |382 |00:38:53 ~-~-> 00:38:57 |me from getting back into the trade if I get stopped out? There has to be rules
594 |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
595 |384 |00:39:03 ~-~-> 00:39:07 |your development, you won't have anything to lean on except for your
596 |385 |00:39:07 ~-~-> 00:39:12 |buying and being profitable, or you're selling and being profitable and all the
597 |386 |00:39:12 ~-~-> 00:39:16 |losses in between, and nothing except for the emotional response to that
598 |387 |00:39:16 ~-~-> 00:39:22 |versus these are the conditions this is More more appropriate for the chart to
599 |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
600 |389 |00:39:25 ~-~-> 00:39:30 |back into a trade idea that may still be viable, but if you are referring to the
601 |390 |00:39:30 ~-~-> 00:39:35 |economic calendar, and you and understand the effects of manipulation
602 |391 |00:39:35 ~-~-> 00:39:40 |that comes by way of ppi, CPI numbers, much like a Non Farm Payroll day and or
603 |392 |00:39:40 ~-~-> 00:39:45 |FOMC, where it's highly influenced by direct manual intervention. I mean,
604 |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
605 |394 |00:39:50 ~-~-> 00:39:56 |they're just going to steamroll over everything. But on a day ahead of those
606 |395 |00:39:56 ~-~-> 00:40:01 |reports, and if it happens to be a Monday, you. You give yourself one
607 |396 |00:40:01 ~-~-> 00:40:06 |chance if you can get into a trade early on. Wonderful. Using the things I taught
608 |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
609 |398 |00:40:12 ~-~-> 00:40:16 |to respect these levels. Okay, I've said it at nauseum when I first started
610 |399 |00:40:16 ~-~-> 00:40:19 |talking about last year on Twitter spaces, when I'll introduce the idea of
611 |400 |00:40:19 ~-~-> 00:40:23 |new week opening gaps and New Day opening apps. It was last spring, summer
612 |401 |00:40:23 ~-~-> 00:40:31 |time in 2023 for the most part, I've watched most of the online chatter about
613 |402 |00:40:31 ~-~-> 00:40:36 |them fizzle out. And frankly, that's exactly what I wanted to see happen,
614 |403 |00:40:36 ~-~-> 00:40:39 |because I shared it, and the students that have done any work in them, they
615 |404 |00:40:39 ~-~-> 00:40:44 |have seen value in it. But because the most, the majority of the online trading
616 |405 |00:40:44 ~-~-> 00:40:49 |community, not just my community, but everyone they they're all looking for
617 |406 |00:40:49 ~-~-> 00:40:52 |this magic lamp where they can pick it up, rub it three times in a genial pop
618 |407 |00:40:52 ~-~-> 00:40:55 |out and say, Where do you what do you want to know today? Okay, the market's
619 |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
620 |409 |00:40:58 ~-~-> 00:41:02 |want to stop loss. It doesn't ever get stopped out. Okay, there's your three
621 |410 |00:41:02 ~-~-> 00:41:04 |wishes for the day. Come the day. Come back tomorrow. Rub me, but rub me Right,
622 |411 |00:41:04 ~-~-> 00:41:12 |right? So I introduced the concept, and because there it's too good, it really
623 |412 |00:41:12 ~-~-> 00:41:22 |is too good to be in the majority of everyone's hands, I allow the the the
624 |413 |00:41:22 ~-~-> 00:41:26 |interest to fade, because if I keep pumping it, pumping it, pumping it,
625 |414 |00:41:26 ~-~-> 00:41:31 |you'll start seeing the things that I just revealed last week. So because my
626 |415 |00:41:31 ~-~-> 00:41:38 |son is interested and he wants to document it, I know that it'll hold your
627 |416 |00:41:38 ~-~-> 00:41:42 |attention longer if you're seeing the logic that I'm going to explain, as I
628 |417 |00:41:42 ~-~-> 00:41:46 |explained last week, and him using it, and then eventually seeing him go with
629 |418 |00:41:46 ~-~-> 00:41:49 |top step, and then eventually pass his combine and eventually get payouts.
630 |419 |00:41:50 ~-~-> 00:41:55 |You'll see that the logic works not just in my hands and not just in other
631 |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
632 |421 |00:41:59 ~-~-> 00:42:03 |then have the rewards of being able to do it and repeating it doesn't need to
633 |422 |00:42:03 ~-~-> 00:42:08 |happen every single day. Caleb, but overall, if you have a net positive
634 |423 |00:42:08 ~-~-> 00:42:12 |month, because in the beginning, you're not going to have a net positive every
635 |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
636 |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
637 |426 |00:42:20 ~-~-> 00:42:23 |making the right decisions, and when he doesn't make the right decision, the
638 |427 |00:42:23 ~-~-> 00:42:26 |right decisions, you have to feel that effect and then work through that
639 |428 |00:42:26 ~-~-> 00:42:31 |progress of it didn't work in my hands. I did something wrong, not the stuff
640 |429 |00:42:31 ~-~-> 00:42:36 |doesn't work that you did it wrong, and therefore you have to grind through
641 |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,
642 |431 |00:42:40 ~-~-> 00:42:43 |you're all gonna have those, those hit and miss. You're gonna have days where
643 |432 |00:42:43 ~-~-> 00:42:46 |it just works like a hot night through butter, just cuts through easily and
644 |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
645 |434 |00:42:49 ~-~-> 00:42:52 |whatever you want to do. Other days you're gonna have to really work for it.
646 |435 |00:42:52 ~-~-> 00:42:56 |And I have learned over 30 plus years the days that you really have to work
647 |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
648 |437 |00:43:01 ~-~-> 00:43:05 |having a whole lot of mental capital spent on the outcome of the trade, and
649 |438 |00:43:05 ~-~-> 00:43:10 |you're just worrying about it being right in your favor, it's actually a
650 |439 |00:43:10 ~-~-> 00:43:14 |better exercise for you to develop discipline just to close the trade, turn
651 |440 |00:43:14 ~-~-> 00:43:18 |the charts off and go do something else, because what you're doing is you're
652 |441 |00:43:18 ~-~-> 00:43:22 |burning mental capital. You're worrying and stressing, and what you're doing
653 |442 |00:43:22 ~-~-> 00:43:25 |also is you're triggering all of these stress hormones in your body. And I wore
654 |443 |00:43:25 ~-~-> 00:43:33 |myself down as a young man doing that. If you spend every single day of the
655 |444 |00:43:33 ~-~-> 00:43:38 |week, and for some of you, many hours each day, obsessing and worrying about
656 |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
657 |446 |00:43:42 ~-~-> 00:43:45 |when it does certain things, and signaling to you that, Okay, it's done.
658 |447 |00:43:45 ~-~-> 00:43:52 |Be content with it. If you don't adopt those protocols, you're going to stress
659 |448 |00:43:52 ~-~-> 00:43:57 |yourself out. And here's the thing, I have met tons of people that are
660 |449 |00:43:57 ~-~-> 00:44:03 |profitable, but they're absolutely unhealthy and unhappy, because they're
661 |450 |00:44:03 ~-~-> 00:44:09 |constantly trying to get more than what they need. I've seen many people go out
662 |451 |00:44:09 ~-~-> 00:44:14 |there and do exceedingly well intraday, and they go in again and they take
663 |452 |00:44:14 ~-~-> 00:44:19 |another trade because it isn't good enough on they want to make more. And
664 |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
665 |454 |00:44:23 ~-~-> 00:44:28 |something once a day, and you get the experience from it, if it's positive,
666 |455 |00:44:28 ~-~-> 00:44:32 |wonderful, if it's not positive, now you have an opportunity to study what you
667 |456 |00:44:32 ~-~-> 00:44:36 |didn't do right, or what you didn't observe correctly. Those are the two
668 |457 |00:44:36 ~-~-> 00:44:41 |perspectives to hold, not that you know this stuff doesn't work or they they did
669 |458 |00:44:41 ~-~-> 00:44:47 |it to you. Okay, I'll give you a perfect example. I knew there was a strong
670 |459 |00:44:47 ~-~-> 00:44:53 |likelihood that these relative equal highs could be retreated to, because
671 |460 |00:44:53 ~-~-> 00:44:56 |that the CPI and PPI numbers are coming out Tuesday and Wednesday, and the
672 |461 |00:44:56 ~-~-> 00:45:01 |characteristic of this morning session ahead of those days. It tends to be a
673 |462 |00:45:01 ~-~-> 00:45:06 |lot more of this type of stuff, back and forth, back and forth, back and forth,
674 |463 |00:45:06 ~-~-> 00:45:12 |and then bump stop me, and I said, and then once it does that, good old Phil
675 |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
676 |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
677 |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
678 |467 |00:45:30 ~-~-> 00:45:36 |took away the the majority of what I was trying to do, you didn't take everything
679 |468 |00:45:36 ~-~-> 00:45:40 |from me. And that's the benefit of knowing where to take partials, because
680 |469 |00:45:40 ~-~-> 00:45:43 |as soon as you take partials and you run your stock to a position of covering any
681 |470 |00:45:43 ~-~-> 00:45:51 |costs, you are in the closest thing to Nirvana as a trader, because now the
682 |471 |00:45:51 ~-~-> 00:45:57 |outcome of the trade is no longer all that critical, is it no because you've
683 |472 |00:45:57 ~-~-> 00:46:01 |taken something out of the trade, you've locked in a position where, even If it
684 |473 |00:46:01 ~-~-> 00:46:07 |were to come back on you, you can't lose, you can't lose, barring some crazy
685 |474 |00:46:07 ~-~-> 00:46:13 |gap, you know, like, that's always there, but you technically barring some
686 |475 |00:46:13 ~-~-> 00:46:18 |crazy volatility gap that would be, you know, unrealistic to expect. I guess it,
687 |476 |00:46:18 ~-~-> 00:46:21 |it could happen now, with all that, all the stuff that's going on over in Europe
688 |477 |00:46:21 ~-~-> 00:46:27 |and Middle East, to the Brits last year, when I was talking about watch Britain,
689 |478 |00:46:28 ~-~-> 00:46:32 |watch the UK. You're gonna you're gonna have some crazy stuff happen. Are you
690 |479 |00:46:32 ~-~-> 00:46:37 |paying attention? It's almost like, uh, reading price action, isn't it? So just
691 |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
692 |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
693 |482 |00:46:47 ~-~-> 00:46:52 |those types of stimuli where you get stopped out prematurely and go back and
694 |483 |00:46:52 ~-~-> 00:47:02 |hunt, try to do something extra, because you didn't get your full run. If I pull
695 |484 |00:47:02 ~-~-> 00:47:02 |this back up
696 |485 |00:47:08 ~-~-> 00:47:15 |this old high. Those are the relative equal highs that the market was reaching
697 |486 |00:47:15 ~-~-> 00:47:21 |for. But this is the level of least importance to me. What I want to see it
698 |487 |00:47:21 ~-~-> 00:47:27 |do is trade above these highs here. Why? Because starting at time 7am my interest
699 |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
700 |489 |00:47:35 ~-~-> 00:47:40 |taken, and just for good measure, it takes out the highs from the previous
701 |490 |00:47:41 ~-~-> 00:47:45 |session, and then we break lower, and then we have a fair value gap, okay? And
702 |491 |00:47:45 ~-~-> 00:47:51 |the market trades up into the fair value gap right there. And I'm looking at how
703 |492 |00:47:51 ~-~-> 00:47:56 |the market wants to use old inefficiencies, because I'm thinking
704 |493 |00:47:56 ~-~-> 00:48:02 |it's going to stay heavy and really work towards this low a lot faster, because
705 |494 |00:48:02 ~-~-> 00:48:07 |it wants to do the moves generally a little earlier. When we have big news on
706 |495 |00:48:07 ~-~-> 00:48:11 |a Tuesday and Wednesday, like we have in our academic calendar, when do you trade
707 |496 |00:48:11 ~-~-> 00:48:15 |these early sessions? ICT, why are you? Why are you sometimes taking trades
708 |497 |00:48:15 ~-~-> 00:48:21 |before 930 opening bell or before 10 o'clock? Silver bullet, I've said this
709 |498 |00:48:21 ~-~-> 00:48:25 |before, but this is the part where you write down, okay, if I have an economic
710 |499 |00:48:25 ~-~-> 00:48:29 |calendar that has like, these big, impactful events on the following
711 |500 |00:48:29 ~-~-> 00:48:35 |trading day, then I'm going to try to take the trades early, because
712 |501 |00:48:35 ~-~-> 00:48:39 |everybody's going to be in here trying to do something at the opening bell. And
713 |502 |00:48:39 ~-~-> 00:48:44 |it's also a Monday. So because nobody blew up anything, and we went we didn't
714 |503 |00:48:44 ~-~-> 00:48:48 |go thermonuclear over in the Middle East, everybody wants to go in and take
715 |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
716 |505 |00:48:51 ~-~-> 00:48:55 |lot of interest in trades right away. And I want to be in when the market's
717 |506 |00:48:55 ~-~-> 00:48:59 |the cleanest. And how is that going to be determined? Well, what I taught you
718 |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
719 |508 |00:49:03 ~-~-> 00:49:12 |minutes post 7am and that's here. Okay, so here's seven o'clock to 730 Ray
720 |509 |00:49:12 ~-~-> 00:49:18 |there. Okay, so what did we form that high, that low? That's why I'm
721 |510 |00:49:18 ~-~-> 00:49:23 |delineating those levels. Okay, in case you have forgot last, last week's rules,
722 |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
723 |512 |00:49:28 ~-~-> 00:49:34 |want to come back up and upset these here, knowing full well that the new
724 |513 |00:49:34 ~-~-> 00:49:39 |week opening gap is down here for this week, August 11, that's Sunday opening
725 |514 |00:49:39 ~-~-> 00:49:44 |from Friday's closing settlement price. That's what the new week opening gap is.
726 |515 |00:49:45 ~-~-> 00:49:51 |So since it's below it, and then the next new day opening gap is last Friday,
727 |516 |00:49:51 ~-~-> 00:49:57 |the ninth, where is that down here? So all we're going to do for guidance, all
728 |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
729 |518 |00:50:02 ~-~-> 00:50:07 |market to be made jagged on the opposing side of where these inefficiencies are.
730 |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
731 |520 |00:50:12 ~-~-> 00:50:17 |smooth areas right here, and they ran through the previous highs and then did
732 |521 |00:50:17 ~-~-> 00:50:23 |what we break lower, and then we have displacement in here. So if we go back
733 |522 |00:50:23 ~-~-> 00:50:30 |through all this price action here, we can then start looking for Hang on one
734 |523 |00:50:30 ~-~-> 00:50:34 |second. I thought I had my laptop plugged in. I'm in the in case the
735 |524 |00:50:34 ~-~-> 00:50:37 |acoustics are acting a little weird in the audio. It's because I'm inside the
736 |525 |00:50:37 ~-~-> 00:50:41 |great room of my first floor of the house. So it's I have really, really
737 |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
738 |527 |00:50:48 ~-~-> 00:50:51 |in a big, a big room here. So hang on one second and plug this in before
739 |528 |00:50:58 ~-~-> 00:51:01 |I lose the power. Speaking of power, last week, we had the remnants of
740 |529 |00:51:01 ~-~-> 00:51:07 |Hurricane Debbie come through, and the wind was kind of whipping up, so we lost
741 |530 |00:51:07 ~-~-> 00:51:10 |power for a moment, until I had all my generators turned back on. Since I
742 |531 |00:51:10 ~-~-> 00:51:14 |wanted to leave the session last week or last Friday at 10 o'clock, I had no
743 |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
744 |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
745 |534 |00:51:21 ~-~-> 00:51:24 |tell you what was going on, because what was going on, because I had things to
746 |535 |00:51:24 ~-~-> 00:51:30 |take care of. But anyway, we had this inefficiency here, and going back over
747 |536 |00:51:30 ~-~-> 00:51:36 |through all this, see, all this, right here, all this inefficiency, even though
748 |537 |00:51:36 ~-~-> 00:51:41 |we went back and forth through here, I'm aiming for all that in there. And then
749 |538 |00:51:41 ~-~-> 00:51:46 |we have this inefficiency. I traded into it there, right at the bottom, right
750 |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
751 |540 |00:51:51 ~-~-> 00:51:55 |teaching and say, Okay, I can see the fair value gaps. I can see the inversion
752 |541 |00:51:55 ~-~-> 00:52:00 |fair value gaps he's talking about. I can see I can see the order blocks.
753 |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
754 |543 |00:52:07 ~-~-> 00:52:14 |get short, I'm going to use the lowest, probably the lowest probable resistance
755 |544 |00:52:15 ~-~-> 00:52:19 |in terms of getting in the trade. In other words, I'm going to use the lowest
756 |545 |00:52:19 ~-~-> 00:52:24 |threshold level on a fair value gap that I think is going to hold price down,
757 |546 |00:52:24 ~-~-> 00:52:29 |because I have strapped many times to be very, very, very precise with the stuff.
758 |547 |00:52:29 ~-~-> 00:52:33 |I understand and know what the market's likely to do more times than it's not.
759 |548 |00:52:34 ~-~-> 00:52:39 |And I've watched my limit orders. Should it prints the price that should have
760 |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
761 |550 |00:52:43 ~-~-> 00:52:48 |me, as a 20 year old, that used to really make me angry, because it made me
762 |551 |00:52:48 ~-~-> 00:52:52 |like, you know, come on, this is like, I took it personal. I literally took it
763 |552 |00:52:52 ~-~-> 00:52:57 |personal. And I'm assuming, you know, like in this life dream, you have to
764 |553 |00:52:57 ~-~-> 00:53:01 |assume that they're just simply not going to let you have it, especially if
765 |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.
766 |555 |00:53:05 ~-~-> 00:53:09 |There's going to be a lot of other people that doing that's doing well, but
767 |556 |00:53:09 ~-~-> 00:53:13 |they have an issue with just you. I'm not saying you, I'm talking about me
768 |557 |00:53:13 ~-~-> 00:53:20 |specifically. They can, they can't stop all of you, but if they stop me, that
769 |558 |00:53:20 ~-~-> 00:53:23 |discourages anybody from trying to follow me or the logic that I teach see
770 |559 |00:53:23 ~-~-> 00:53:28 |the difference. So take out the King. I'm not saying I'm the king, but take
771 |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
772 |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
773 |562 |00:53:38 ~-~-> 00:53:44 |actually creating a liquidity and even a larger bullseye. So I tried to do things
774 |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
775 |564 |00:53:48 ~-~-> 00:53:55 |see all of the logic is still here, but entering on in the inefficiency over
776 |565 |00:53:55 ~-~-> 00:54:02 |here, extending it through what is it? What is this right here? What is that
777 |566 |00:54:02 ~-~-> 00:54:08 |right there? This inefficiency, what is it? What kind of classification is that?
778 |567 |00:54:10 ~-~-> 00:54:13 |Well, for folks that think they understand fair value gaps and whatnot,
779 |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
780 |569 |00:54:17 ~-~-> 00:54:20 |the information I'm teaching you. Because what are we expecting? We're
781 |570 |00:54:20 ~-~-> 00:54:23 |expecting we're expecting these relative equal highs to be taken in as much as
782 |571 |00:54:23 ~-~-> 00:54:28 |these levels up here traded to go back and listen to the lectures last week, if
783 |572 |00:54:28 ~-~-> 00:54:31 |you're if you're watching this one, and didn't watch the last last week's
784 |573 |00:54:31 ~-~-> 00:54:35 |lecture, or skipped, or didn't really listen to any of the things I said, and
785 |574 |00:54:35 ~-~-> 00:54:38 |you just watched, and maybe we're bored to death and turned off the thing
786 |575 |00:54:38 ~-~-> 00:54:43 |because you think it's not of any interest. Go back and really go through
787 |576 |00:54:43 ~-~-> 00:54:50 |and listen to it and take notes. Scouts over there snoring, you'll probably hear
788 |577 |00:54:52 ~-~-> 00:55:04 |it is a reclaimed fair value guy. Uh, meaning that, see, when the narrative in
789 |578 |00:55:04 ~-~-> 00:55:09 |the time are not in an agreement, even though it trades back up to these
790 |579 |00:55:09 ~-~-> 00:55:12 |inefficiencies, you're thinking just like everybody thought, a down close
791 |580 |00:55:12 ~-~-> 00:55:15 |candle every single time a down close candles touch, the market's going to go
792 |581 |00:55:15 ~-~-> 00:55:18 |up. That's what everybody over on baby pips thought when I was first teaching
793 |582 |00:55:18 ~-~-> 00:55:23 |about the idea of my order block, and because they tried to do those types of
794 |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
795 |584 |00:55:26 ~-~-> 00:55:31 |these candlesticks that ICT was talking about. And when they failed in their own
796 |585 |00:55:31 ~-~-> 00:55:34 |hands, because they didn't understand the narrative, they didn't understand
797 |586 |00:55:34 ~-~-> 00:55:39 |the logic and how to actually use them, they run away and say, well, it doesn't
798 |587 |00:55:39 ~-~-> 00:55:44 |work. And then you have a lot of people that are doing that, and you have new
799 |588 |00:55:44 ~-~-> 00:55:47 |people coming in, and they have an interest and say, Oh, I hear a lot about
800 |589 |00:55:47 ~-~-> 00:55:50 |this guy named ICT and these smart money concepts, and they start seeing other
801 |590 |00:55:50 ~-~-> 00:55:55 |people's opinions, and because they're lazy, they'll take those opinions and
802 |591 |00:55:55 ~-~-> 00:55:59 |say, Well, you know, they're saying they lost money. It doesn't work. So
803 |592 |00:55:59 ~-~-> 00:56:02 |therefore I'm going to avoid that, because I don't want to be prudent and
804 |593 |00:56:02 ~-~-> 00:56:06 |actually do the investigation myself and try to use it in my own hands and see if
805 |594 |00:56:06 ~-~-> 00:56:10 |there's any valid used to this information. So therefore, that's why
806 |595 |00:56:10 ~-~-> 00:56:14 |you get the stigma that's around me. But then for the people that actually go
807 |596 |00:56:14 ~-~-> 00:56:18 |through the process of learning it, doing the right way and spending time in
808 |597 |00:56:18 ~-~-> 00:56:22 |their own charts, weighing out the rules and things I've taught. I did give
809 |598 |00:56:22 ~-~-> 00:56:26 |guidance. But the problem is I've warned you ahead of time, it's going to take
810 |599 |00:56:26 ~-~-> 00:56:30 |you a whole lot more time that you want it to take. And then when you start
811 |600 |00:56:30 ~-~-> 00:56:35 |spending that time, and you really make good use of that time, journaling and
812 |601 |00:56:35 ~-~-> 00:56:40 |seeing the examples of what it looks like, you will see that the times that
813 |602 |00:56:41 ~-~-> 00:56:44 |in your own hands, that will fail. As long as you understand the correct
814 |603 |00:56:45 ~-~-> 00:56:50 |narrative, and you're understanding the elements of time when these things
815 |604 |00:56:50 ~-~-> 00:56:54 |should happen, you'll see that they work a lot more than they'll fail in your
816 |605 |00:56:54 ~-~-> 00:56:59 |hands, meaning that there's an edge there. And with experience, you'll start
817 |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
818 |607 |00:57:03 ~-~-> 00:57:08 |here, here, here, what was I doing those days, or those instances that I was
819 |608 |00:57:09 ~-~-> 00:57:13 |unaware of seeing when it was not likely to pan out for me. And then that's
820 |609 |00:57:13 ~-~-> 00:57:18 |experience that I can't encapsulate in a book. I can't encapsulate that in a
821 |610 |00:57:18 ~-~-> 00:57:23 |lecture. There are things that are going to be much more useful to you, because I
822 |611 |00:57:23 ~-~-> 00:57:26 |don't know where your shortcomings are in reading the information that's in
823 |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
824 |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
825 |614 |00:57:35 ~-~-> 00:57:38 |don't know all the things that you're feeling and what you're thinking, what
826 |615 |00:57:38 ~-~-> 00:57:41 |you're fearful of, what you're excited about, what your motivation is, all of
827 |616 |00:57:41 ~-~-> 00:57:45 |those things are going to be impactful for you, either taking the trade or not
828 |617 |00:57:45 ~-~-> 00:57:49 |taking the trade, and you're trying to rush through all those discoveries about
829 |618 |00:57:49 ~-~-> 00:57:53 |yourself. And that's the under, that's the undermining that that's going to
830 |619 |00:57:53 ~-~-> 00:57:57 |happen in your development. But you're going to fault something else, or me, or
831 |620 |00:57:57 ~-~-> 00:58:01 |some you know, something else outside yourself is going to be the external
832 |621 |00:58:01 ~-~-> 00:58:05 |factor for why you didn't find success, and to me, that's unfortunate, because
833 |622 |00:58:05 ~-~-> 00:58:10 |that's the that's the prevailing mindset of most people today, old and young,
834 |623 |00:58:11 ~-~-> 00:58:15 |because they're lazy. And I know you don't like hearing that. You think I'm
835 |624 |00:58:15 ~-~-> 00:58:19 |being condescending, but it's the truth, because you're not hearing me when I
836 |625 |00:58:19 ~-~-> 00:58:24 |tell you you're going to have to do this for months, okay? Months, and you should
837 |626 |00:58:24 ~-~-> 00:58:28 |be demoing Okay, for a minimum of six months before you ever trade with a real
838 |627 |00:58:28 ~-~-> 00:58:33 |account ever. Because you don't know enough about yourself. You don't know
839 |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
840 |629 |00:58:38 ~-~-> 00:58:43 |run of just everything's working out good, and you don't have the lessons
841 |630 |00:58:43 ~-~-> 00:58:48 |that come through hardship, that are going to come eventually, and then you
842 |631 |00:58:48 ~-~-> 00:58:52 |have to discover how to grind through that and refer back to when it was
843 |632 |00:58:52 ~-~-> 00:58:56 |working in your hands. Don't throw the baby out with the bathwater. And that's
844 |633 |00:58:56 ~-~-> 00:59:00 |what everybody wants to do. They want to find the next hot thing. I am the hot
845 |634 |00:59:00 ~-~-> 00:59:03 |thing. Okay, because this is the market. This is what the market's going to do
846 |635 |00:59:03 ~-~-> 00:59:09 |every day, every week. The problem is, there's going to be times where the DAC
847 |636 |00:59:09 ~-~-> 00:59:17 |is stacked. It's stacked. The deck is stacked mid game against even me. That's
848 |637 |00:59:17 ~-~-> 00:59:21 |manual intervention. In other words, you ever been to a casino? You ever been to
849 |638 |00:59:21 ~-~-> 00:59:26 |casino and you're playing blackjack, and the dealer, and you maybe a couple other
850 |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
851 |640 |00:59:31 ~-~-> 00:59:34 |making money, or someone at the table is making money, and then they'll come out
852 |641 |00:59:34 ~-~-> 00:59:37 |and they'll change the shoe, okay, the shoe is that little box they have
853 |642 |00:59:37 ~-~-> 00:59:44 |multiple decks in. Okay, that deck, or those decks that is a stack, okay? It's
854 |643 |00:59:44 ~-~-> 00:59:50 |designed to run out a certain favor of odds in the houses, hand the casinos
855 |644 |00:59:50 ~-~-> 00:59:56 |hand. Knowing how to count cards gives you an advantage. It doesn't tell you
856 |645 |00:59:56 ~-~-> 01:00:01 |every order that that shoe of cards. It just gives you an advantage. Inch of how
857 |646 |01:00:01 ~-~-> 01:00:05 |many cards are left in that shoe. But if they know, because they have the eye in
858 |647 |01:00:05 ~-~-> 01:00:07 |the sky, that means there's people up there watching, there's cameras
859 |648 |01:00:07 ~-~-> 01:00:11 |watching. If they know there's a man or a woman at a table that constantly is
860 |649 |01:00:11 ~-~-> 01:00:13 |cleaning up, they're going to come out and they're going to change the shoe.
861 |650 |01:00:13 ~-~-> 01:00:17 |They're not running out of cards, but they're bringing a new shoe there, which
862 |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
863 |652 |01:00:23 ~-~-> 01:00:26 |getting up, you're casting your chips, and you're going home and you're going
864 |653 |01:00:26 ~-~-> 01:00:30 |to go to another casino, and you won't come back to that one for months,
865 |654 |01:00:30 ~-~-> 01:00:36 |because now they they're on to you. Okay? These tells, these little things,
866 |655 |01:00:36 ~-~-> 01:00:40 |where it tells you in the marketplace that you are not likely to have the
867 |656 |01:00:40 ~-~-> 01:00:45 |advantage right? Now, something's been changed. Okay? If you watch the movie,
868 |657 |01:00:45 ~-~-> 01:00:49 |The Matrix, when they see a deja vu moment, that means there's a glitch in
869 |658 |01:00:49 ~-~-> 01:00:52 |the matrix, right? Something has changed according to the script in that movie.
870 |659 |01:00:52 ~-~-> 01:00:57 |Well, the same thing in price action. If you see something that upsets what is
871 |660 |01:00:57 ~-~-> 01:00:58 |normal?
872 |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
873 |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.
874 |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
875 |664 |01:01:13 ~-~-> 01:01:20 |time, I know how I can hurt myself. I can hurt myself in this so to prevent
876 |665 |01:01:20 ~-~-> 01:01:26 |myself from being overly emotional or too psychologically committed to the
877 |666 |01:01:26 ~-~-> 01:01:30 |outcome, needing it to be in my favor for the sake of being right. These are
878 |667 |01:01:30 ~-~-> 01:01:35 |all things I had to wrestle with. I had to create protocols and say, Okay, where
879 |668 |01:01:35 ~-~-> 01:01:39 |were my losing trades? Where were the times where I blew my account? Where
880 |669 |01:01:39 ~-~-> 01:01:44 |were the things that caused me to go into a tailspin, and I couldn't find the
881 |670 |01:01:44 ~-~-> 01:01:47 |rhythm of getting back into finding a series of winning trades. Again, you
882 |671 |01:01:47 ~-~-> 01:01:51 |find that by keeping a journal and being honest in it, but not beating yourself
883 |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
884 |673 |01:01:56 ~-~-> 01:02:00 |journaling initially as a 20 year old, all of those journals were highly toxic
885 |674 |01:02:00 ~-~-> 01:02:04 |and directed towards myself as a failure. So it'd be very easy for me to
886 |675 |01:02:04 ~-~-> 01:02:09 |highlight what I was thinking, and most of it was relationship and I didn't like
887 |676 |01:02:09 ~-~-> 01:02:13 |where I was working in. And it's probably for some of you that's the very
888 |677 |01:02:13 ~-~-> 01:02:18 |central tenets of why you're overdoing it. You're pushing too hard because you
889 |678 |01:02:18 ~-~-> 01:02:23 |want to get out of that uncomfortable state. This is the stuff that nobody
890 |679 |01:02:23 ~-~-> 01:02:26 |wants to hear about, because it's reminder that these things exist in your
891 |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
892 |681 |01:02:30 ~-~-> 01:02:35 |come and listen to the doctor, Phil, okay. I want to hear how to trade. But
893 |682 |01:02:35 ~-~-> 01:02:39 |you don't realize until you go through it, that those are the things that are
894 |683 |01:02:39 ~-~-> 01:02:44 |going to be impactful and resistance to you being successful, because you're
895 |684 |01:02:44 ~-~-> 01:02:47 |you're going to tap into them subconsciously, and by having rules
896 |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
897 |686 |01:02:51 ~-~-> 01:02:55 |even if the market does this or that, because I know the economic calendar
898 |687 |01:02:55 ~-~-> 01:02:58 |tomorrow and Tuesday, I'm sorry, Wednesday, Tuesday and Wednesday have
899 |688 |01:02:58 ~-~-> 01:03:04 |Such a huge weight of volatility in the offing. It's going to happen tomorrow,
900 |689 |01:03:04 ~-~-> 01:03:07 |guaranteed. We're going to have lots of movement on Tuesday, lots of movement on
901 |690 |01:03:07 ~-~-> 01:03:11 |Wednesday. And a lot of folks are sitting back, and they're going to wait
902 |691 |01:03:11 ~-~-> 01:03:15 |for those reports they're going to pass, and then they'll start putting money in
903 |692 |01:03:15 ~-~-> 01:03:19 |the marketplace or taking money out in respect to whatever the market does as a
904 |693 |01:03:19 ~-~-> 01:03:25 |response to those data points. But if you don't have rules and protocols in
905 |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
906 |695 |01:03:29 ~-~-> 01:03:34 |trying to avoid, you're going to be aimless, like a, like a, like a sailboat
907 |696 |01:03:34 ~-~-> 01:03:38 |out there without a rudder, wherever the wind blows you. And are you in control
908 |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
909 |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
910 |699 |01:03:45 ~-~-> 01:03:49 |have an emotional response that was always exaggerated. And when I was
911 |700 |01:03:49 ~-~-> 01:03:54 |right, it was, yeah, super skill, and when I was wrong, it was the end of the
912 |701 |01:03:54 ~-~-> 01:03:57 |world. And I wanted to quit trading. I never wanted to do it again, and I had
913 |702 |01:03:57 ~-~-> 01:04:00 |to convince myself by going back and look at the times where I did it right.
914 |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
915 |704 |01:04:04 ~-~-> 01:04:10 |these cheerleading sessions or guidance, okay? I had a couple videos that I knew
916 |705 |01:04:10 ~-~-> 01:04:15 |verbatim, and I couldn't, couldn't get anything out of them anymore to keep me
917 |706 |01:04:15 ~-~-> 01:04:21 |going, so I had to refer back to the times I did it correctly. And then also
918 |707 |01:04:22 ~-~-> 01:04:28 |treating my opportunities where I did it wrong as a means of this is my goal to
919 |708 |01:04:28 ~-~-> 01:04:33 |figure out what I was doing wrong there. Notice the language I used there. I
920 |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
921 |710 |01:04:39 ~-~-> 01:04:43 |being very personal about the opportunity of discovering where I was
922 |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
923 |712 |01:04:49 ~-~-> 01:04:52 |older students that have not been profitable yet. And they have those
924 |713 |01:04:52 ~-~-> 01:04:55 |tenants, they have those central tenants. They don't like to hear it
925 |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
926 |715 |01:04:57 ~-~-> 01:05:01 |didn't teach me right, or you didn't teach me to see. This in secret that
927 |716 |01:05:01 ~-~-> 01:05:06 |again, here I am on YouTube teaching the very things that are absolutely going to
928 |717 |01:05:06 ~-~-> 01:05:11 |cause these markets to do what they're doing based on time and price. And it's
929 |718 |01:05:11 ~-~-> 01:05:16 |happening again, just like every other lecture series I ever did, just like the
930 |719 |01:05:16 ~-~-> 01:05:20 |paid mentorship videos I uploaded on the YouTube channel, that stuff doesn't fall
931 |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
932 |721 |01:05:23 ~-~-> 01:05:30 |market's going to do. But because you have so many things, like a candy store
933 |722 |01:05:30 ~-~-> 01:05:34 |in front of you, how are you going to use the information? I can't
934 |723 |01:05:34 ~-~-> 01:05:39 |realistically force you into a mold, but I am in certain aspects. Because he's my
935 |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
936 |725 |01:05:44 ~-~-> 01:05:50 |trade the morning session, knowing full well that this will at least give him a
937 |726 |01:05:50 ~-~-> 01:05:54 |baseline. And then if he wants to change up and go to trade in the London session
938 |727 |01:05:54 ~-~-> 01:05:59 |or trading the afternoon session in the in the US, he can make that decision
939 |728 |01:05:59 ~-~-> 01:06:04 |because he'll have the same protocols that he uses here, just at a different
940 |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
941 |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
942 |731 |01:06:12 ~-~-> 01:06:16 |this is, you know, second time for him to go through this, it's dad saying,
943 |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
944 |733 |01:06:21 ~-~-> 01:06:24 |you the logic. And for all of you that are here wanting to learn, you have an
945 |734 |01:06:24 ~-~-> 01:06:29 |interest in that time of day, but you'll see that nothing's really changing. It's
946 |735 |01:06:29 ~-~-> 01:06:34 |just you're applying the same concepts of measuring time, determining where the
947 |736 |01:06:34 ~-~-> 01:06:39 |liquidity is, and then waiting for this disruption, and the waters are made
948 |737 |01:06:39 ~-~-> 01:06:43 |jagged or rough, wherever it's smooth, okay, you're waiting for that jaggedness
949 |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
950 |739 |01:06:53 ~-~-> 01:07:00 |these relative equal highs, this up close candle, I'm anticipating that as a
951 |740 |01:07:00 ~-~-> 01:07:08 |bearish order block. Why? Because it's going above the relative equal highs. We
952 |741 |01:07:08 ~-~-> 01:07:15 |had the market trade lower. It went beyond the opening price. Listen, folks,
953 |742 |01:07:15 ~-~-> 01:07:20 |this is for order block. Fans, okay, my order block does not require to trade
954 |743 |01:07:20 ~-~-> 01:07:26 |below the wick, if I understand the narrative. And let's talk a little bit
955 |744 |01:07:26 ~-~-> 01:07:32 |about narrative. This morning, my interest was being short. I wanted to be
956 |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
957 |746 |01:07:37 ~-~-> 01:07:42 |Friday. I talked about it with Kayla. Said I believe it could do it. It could
958 |747 |01:07:42 ~-~-> 01:07:45 |potentially have a retracement as much as 20 to 30% of the weekly range. It
959 |748 |01:07:46 ~-~-> 01:07:50 |didn't do that. They kept pressing it into Friday's close. Okay, wonderful. So
960 |749 |01:07:50 ~-~-> 01:07:55 |how do I trade with that information, knowing that TGIF did not form on a
961 |750 |01:07:55 ~-~-> 01:08:01 |Friday if the market didn't retrace 20 to 30% of previous week's range, and if
962 |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
963 |752 |01:08:06 ~-~-> 01:08:11 |deliver. Let's say I took a trade on Friday and I was trying to get short,
964 |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
965 |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
966 |755 |01:08:18 ~-~-> 01:08:23 |didn't give me what I thought was gonna happen, that the end result is what was
967 |756 |01:08:23 ~-~-> 01:08:28 |lacking. TGIF did not materialize and manifest itself on a Friday. Wonderful.
968 |757 |01:08:28 ~-~-> 01:08:34 |So fast forward to Monday. If you're going to trade on Monday, and this is
969 |758 |01:08:34 ~-~-> 01:08:38 |true, even if there is CPI PPI on Tuesday and Wednesday or later in the
970 |759 |01:08:38 ~-~-> 01:08:45 |week, you can use this information anticipate the likelihood of 20 to 30%
971 |760 |01:08:45 ~-~-> 01:08:51 |of the previous week's range occurring on Monday's trading. So it's TGIF, but
972 |761 |01:08:51 ~-~-> 01:08:56 |the the actual retracement of it is deferred to the following week. In this
973 |762 |01:08:56 ~-~-> 01:09:01 |case, it's Monday. Do you need 20% of the weekly previous week's range to be
974 |763 |01:09:01 ~-~-> 01:09:08 |profitable, no, but it's one more little box to check that probabilities are
975 |764 |01:09:08 ~-~-> 01:09:15 |better in the short than going long. So then, when you start mapping out your
976 |765 |01:09:15 ~-~-> 01:09:18 |your day, seven o'clock in the morning, as I outlined last week, determine what
977 |766 |01:09:18 ~-~-> 01:09:22 |your initial high for buy side is, and what your initial low is for your sell
978 |767 |01:09:22 ~-~-> 01:09:28 |side, wait for them to be taken. And if you have the weekly gap, the new week
979 |768 |01:09:28 ~-~-> 01:09:31 |opening gap and a new day opening gaps are below price, and you have that
980 |769 |01:09:31 ~-~-> 01:09:35 |function of determining, okay, well, it could retrace into some of previous
981 |770 |01:09:35 ~-~-> 01:09:40 |week's range. You have a lot of things going in your favor that point to what
982 |771 |01:09:40 ~-~-> 01:09:47 |the initial run will offer you a range so that way you can determine some kind
983 |772 |01:09:47 ~-~-> 01:09:53 |of directional bias. That bias doesn't have to be the daily range bias, where
984 |773 |01:09:53 ~-~-> 01:09:58 |you're predicting the closes above or below the opening price. Remember, it's
985 |774 |01:09:58 ~-~-> 01:10:03 |session bias too. And. You need to be able to determine that first Caleb, you
986 |775 |01:10:03 ~-~-> 01:10:08 |need to be focusing on in the morning session. I want to know where a run
987 |776 |01:10:08 ~-~-> 01:10:16 |could form that is measurable. It's something that I'm able to participate
988 |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
989 |778 |01:10:24 ~-~-> 01:10:28 |week opening gap, and we have new day opening gaps below the market at seven
990 |779 |01:10:28 ~-~-> 01:10:32 |o'clock or eight o'clock or nine o'clock, at opening bell, then you know
991 |780 |01:10:32 ~-~-> 01:10:37 |the weight of the market is going to be pressed to the downside. So the market's
992 |781 |01:10:37 ~-~-> 01:10:44 |going to discover probe into discount, arrays that's something that's below the
993 |782 |01:10:44 ~-~-> 01:10:50 |market price and or seek inefficiencies that are deep retracements into previous
994 |783 |01:10:50 ~-~-> 01:10:56 |week's range, or just taking out short term lows that can be determined from a
995 |784 |01:10:56 ~-~-> 01:10:59 |15 minute selling frame. Okay, so
996 |785 |01:11:00 ~-~-> 01:11:04 |as the market was trading on this candlestick right here, we opened down
997 |786 |01:11:04 ~-~-> 01:11:10 |here after a down closed candle that closed below the opening price of that
998 |787 |01:11:10 ~-~-> 01:11:15 |up close candle. Let me zoom in. Let me make sure you can see i
999 |788 |01:11:23 ~-~-> 01:11:28 |So this opening price, all I need to do is see price trade below that, and on
1000 |789 |01:11:28 ~-~-> 01:11:31 |the time frame, I'm seeing this candlestick, which is the one minute
1001 |790 |01:11:31 ~-~-> 01:11:36 |chart that closing price right there validates this as a bearish order block.
1002 |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
1003 |792 |01:11:44 ~-~-> 01:11:47 |open price. So I already have that filter, because it could open down here,
1004 |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
1005 |794 |01:11:54 ~-~-> 01:12:02 |up. Where's my fill? See it at the opening price. It's opening and there's
1006 |795 |01:12:02 ~-~-> 01:12:06 |where it's opening, on this candle, and trades up. I'm selling short when the
1007 |796 |01:12:06 ~-~-> 01:12:12 |market's going up, okay, stop loss goes to rejection block, which is the close
1008 |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
1009 |798 |01:12:17 ~-~-> 01:12:23 |trading to the initial buy side liquidity. That's these relative equal
1010 |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
1011 |800 |01:12:27 ~-~-> 01:12:30 |going to come back and use this information back there, because there is
1012 |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
1013 |802 |01:12:34 ~-~-> 01:12:40 |you every day. And the market trades again lower, and then we have a gap in
1014 |803 |01:12:40 ~-~-> 01:12:46 |here. So again, as I teach, you're not using the wick of that candlestick right
1015 |804 |01:12:46 ~-~-> 01:12:49 |there. You're using the body's clothes. Why? Because it's different. Then
1016 |805 |01:12:49 ~-~-> 01:12:52 |there's a separation to the next candles opening. So there's a volume imbalance
1017 |806 |01:12:52 ~-~-> 01:12:58 |there. So you have to incorporate that with your measurement of your gap. And
1018 |807 |01:12:58 ~-~-> 01:13:01 |then by doing that, you'll get a true consequent encroachment level, which is
1019 |808 |01:13:01 ~-~-> 01:13:06 |what you see all these candlesticks touching here, right in here. Now, truth
1020 |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
1021 |810 |01:13:10 ~-~-> 01:13:16 |you're looking for something to do, the gotcha stuff, or, Oh, he's lying here. I
1022 |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
1023 |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
1024 |813 |01:13:27 ~-~-> 01:13:33 |sitting right over here, just like that. And I was moving her and her claws,
1025 |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
1026 |815 |01:13:37 ~-~-> 01:13:40 |finish her last week when we were doing a pause and got her back done. But she
1027 |816 |01:13:40 ~-~-> 01:13:44 |she doesn't like to have it done, so I had to wait. Well, they were stabbing
1028 |817 |01:13:44 ~-~-> 01:13:47 |into me, and she was pouncing on because she don't want the other puppies to get
1029 |818 |01:13:47 ~-~-> 01:13:50 |near me. And I know this is probably boring you, but long story short,
1030 |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
1031 |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
1032 |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,
1033 |822 |01:14:05 ~-~-> 01:14:09 |obviously, when I'm using my my screens upstairs, but if I'm talking to you, if
1034 |823 |01:14:09 ~-~-> 01:14:13 |I'm executing or managing something on the laptop, I prefer I don't have a
1035 |824 |01:14:13 ~-~-> 01:14:18 |little mouse that's external. When I pushed her away, I ended up touching the
1036 |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.
1037 |826 |01:14:22 ~-~-> 01:14:27 |And there's no logic in here that justifies that fill, except for I pushed
1038 |827 |01:14:27 ~-~-> 01:14:32 |the pad without wanting to do so. But the trade is still viable. I know that
1039 |828 |01:14:32 ~-~-> 01:14:36 |it's giving me the information I want to see, because look at the wicks here. It
1040 |829 |01:14:36 ~-~-> 01:14:40 |only goes above it by one tick. It only goes above it by one tick. Okay,
1041 |830 |01:14:40 ~-~-> 01:14:44 |wonderful. The bodies are proving to me that we're only really respecting the
1042 |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
1043 |832 |01:14:50 ~-~-> 01:14:55 |it right back on in a second. Give me a moment. You see how the bodies are
1044 |833 |01:14:55 ~-~-> 01:15:00 |showing how it's just respecting the lower half. You want to see. My PD
1045 |834 |01:15:00 ~-~-> 01:15:03 |arrays and my inefficiencies and fair value gaps, whether it be sell side and
1046 |835 |01:15:03 ~-~-> 01:15:09 |balance buy side efficiency or buy side and balance cell sign efficiency, you
1047 |836 |01:15:09 ~-~-> 01:15:13 |want to see half of them not respected, because that in itself is insight.
1048 |837 |01:15:13 ~-~-> 01:15:17 |That's how you know the algorithm is doing exactly what you want it to do.
1049 |838 |01:15:17 ~-~-> 01:15:20 |See when I talk about signatures and price and what the algorithm is doing,
1050 |839 |01:15:20 ~-~-> 01:15:23 |what the algorithm is doing, what the algorithm is doing this, and when the
1051 |840 |01:15:23 ~-~-> 01:15:27 |algorithm is doing that. It sounds like bullshit, if you don't want to believe
1052 |841 |01:15:27 ~-~-> 01:15:30 |there's an algorithm, but then when you start seeing me execute and it's the
1053 |842 |01:15:30 ~-~-> 01:15:33 |same logic repeating over and over again, or I'm calling individual
1054 |843 |01:15:33 ~-~-> 01:15:36 |candlesticks, then suddenly you're met with an argument that you have to
1055 |844 |01:15:36 ~-~-> 01:15:39 |contend with. I don't give two shits if you believe there's an algorithm, I'm
1056 |845 |01:15:39 ~-~-> 01:15:43 |enjoying the fact that I'm rubbing your nose in it. But there are times where
1057 |846 |01:15:44 ~-~-> 01:15:49 |these inefficiencies will come back entirely, close in and still go lower. I
1058 |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
1059 |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
1060 |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
1061 |850 |01:16:05 ~-~-> 01:16:09 |wanting to do. I really wanted to execute as it hit this. That's what I
1062 |851 |01:16:09 ~-~-> 01:16:13 |want. I wanted consequent encouragement. I really wanted that fill but because
1063 |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
1064 |853 |01:16:17 ~-~-> 01:16:22 |in my trading office, but I'm down here being with them. Otherwise, if she's not
1065 |854 |01:16:22 ~-~-> 01:16:27 |in the house, my wife and the we only have my youngest living with me and my
1066 |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
1067 |856 |01:16:33 ~-~-> 01:16:36 |get my attention. And that's going to be distracting. You'll hear them in the
1068 |857 |01:16:36 ~-~-> 01:16:39 |background. I won't be able to mute them, because they're going to be
1069 |858 |01:16:39 ~-~-> 01:16:43 |howling because they want to be with me. Piper is the one that loves me the most,
1070 |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
1071 |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
1072 |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
1073 |862 |01:16:56 ~-~-> 01:16:59 |one of those things that happened in real life. Okay, it's going to happen to
1074 |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
1075 |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,
1076 |865 |01:17:09 ~-~-> 01:17:13 |as soon as you realize you did something that you shouldn't have done your best,
1077 |866 |01:17:14 ~-~-> 01:17:21 |learning curve to experience is to close that trade and then see All right, this
1078 |867 |01:17:21 ~-~-> 01:17:25 |is how I would still manage it. And what has it done? It completely disarms you.
1079 |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
1080 |869 |01:17:29 ~-~-> 01:17:33 |favor. Because now you're stressing about, oh, I got into a trade where I
1081 |870 |01:17:34 ~-~-> 01:17:40 |partially pyramided another position size in this trade idea, and now I'm
1082 |871 |01:17:40 ~-~-> 01:17:46 |worried about this is a mistake versus watching what is price doing? Okay? So
1083 |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
1084 |873 |01:17:50 ~-~-> 01:17:56 |or a inversion fair value gap that should act as resistance, or if you are
1085 |874 |01:17:56 ~-~-> 01:18:04 |using a reclaimed fair value gap, that's a premium array, a premium array you
1086 |875 |01:18:04 ~-~-> 01:18:08 |want to see the upper half of the inefficiencies or gaps. You want to see
1087 |876 |01:18:08 ~-~-> 01:18:13 |them leave that open. That's how you know the algorithm is respecting number
1088 |877 |01:18:13 ~-~-> 01:18:17 |one, the PD array, and it's also telling you that you're going to see a
1089 |878 |01:18:17 ~-~-> 01:18:23 |measurable displacement in your favor. Now, right away, you should be getting
1090 |879 |01:18:23 ~-~-> 01:18:28 |this warm and fuzzy moment going over you right now, because that's the stuff,
1091 |880 |01:18:29 ~-~-> 01:18:36 |that's the stuff that I never wanted to teach. That's the stuff that is not
1092 |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
1093 |882 |01:18:41 ~-~-> 01:18:46 |the things that are not in the candlesticks materialize. That means
1094 |883 |01:18:46 ~-~-> 01:18:51 |where there's an inefficiency. Okay, how do I know when certain gaps are not
1095 |884 |01:18:51 ~-~-> 01:18:56 |going to fill? Oh, I go into everyone that I'm referring to with a hope that
1096 |885 |01:18:56 ~-~-> 01:19:00 |they're not going to fill. Because that's the algorithmic signature that I
1097 |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
1098 |887 |01:19:04 ~-~-> 01:19:08 |to see an immediate response and rejection there. And then it has to
1099 |888 |01:19:08 ~-~-> 01:19:13 |displace, and I won't touch it until it gives us another fair value gap on that
1100 |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,
1101 |890 |01:19:18 ~-~-> 01:19:21 |30 seconds, something to that effect. And then I won't use a fair value gap on
1102 |891 |01:19:21 ~-~-> 01:19:25 |that time frame, because I've already missed the rejection, but I waited and
1103 |892 |01:19:25 ~-~-> 01:19:29 |looked for it at the top of the fair value gap, and once it starts to
1104 |893 |01:19:29 ~-~-> 01:19:32 |displace lower, then I'll just get into a lower time frame and get in sync with
1105 |894 |01:19:32 ~-~-> 01:19:37 |it. And it's fine. I ain't worried about it. That's the price delivery continuum
1106 |895 |01:19:37 ~-~-> 01:19:41 |theory that I was introducing last week. I don't need to be in the entries based
1107 |896 |01:19:41 ~-~-> 01:19:45 |on the time frames I'm studying, if I miss it, because sometimes I'm just
1108 |897 |01:19:45 ~-~-> 01:19:51 |being a little stubborn, and I'm trying to be very finessing about where I'm
1109 |898 |01:19:52 ~-~-> 01:19:56 |trying to get in at I'm trying to impress either my son or some of you.
1110 |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
1111 |900 |01:20:01 ~-~-> 01:20:06 |frame to get in sync with it. That's fine. It's very forgiving when you know
1112 |901 |01:20:06 ~-~-> 01:20:09 |what you're looking for. But that that was what that was okay. And then I have
1113 |902 |01:20:09 ~-~-> 01:20:15 |this inefficiency here, which also has this, what's this candlestick? What's
1114 |903 |01:20:15 ~-~-> 01:20:21 |this green candlestick? Right here it is a bearish order block, just like that
1115 |904 |01:20:21 ~-~-> 01:20:28 |one. So this opening price did this candle close below it once it passed
1116 |905 |01:20:28 ~-~-> 01:20:34 |through, yep. So that validates that as a bearish order block. So if I can see
1117 |906 |01:20:34 ~-~-> 01:20:38 |price create these areas where there's an inefficiency, and then I can label
1118 |907 |01:20:38 ~-~-> 01:20:41 |the very specific change in the state of delivery, which is what the opening
1119 |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
1120 |909 |01:20:47 ~-~-> 01:20:53 |doing this physically. You should do it when you start studying price. What with
1121 |910 |01:20:53 ~-~-> 01:21:00 |these things in mind? When price starts to trade back up into it as it's trading
1122 |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
1123 |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
1124 |913 |01:21:16 ~-~-> 01:21:21 |this order block between its opening price and its low, but I have to trade
1125 |914 |01:21:21 ~-~-> 01:21:23 |it soon as it soon as it gets there the first time.
1126 |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
1127 |916 |01:21:30 ~-~-> 01:21:37 |have the framework of this right here, this gap and the midpoint of this
1128 |917 |01:21:37 ~-~-> 01:21:43 |candlestick, which is what mean threshold. Some of you said consequent
1129 |918 |01:21:43 ~-~-> 01:21:47 |encroachment. Consequent encroachment is a gap. Okay? Anytime there's a gap or
1130 |919 |01:21:47 ~-~-> 01:21:51 |inefficiency, the midpoint is consequent encroachment. If there's a specific
1131 |920 |01:21:51 ~-~-> 01:21:57 |range that's formed by the border block, singular candle, it's mean threshold.
1132 |921 |01:21:57 ~-~-> 01:22:00 |Okay, so the midpoint of that, essentially, it's around here, okay, so
1133 |922 |01:22:00 ~-~-> 01:22:06 |what is it doing? It goes right there. So it goes just outside the fair value
1134 |923 |01:22:06 ~-~-> 01:22:09 |gap. But I'm referring to the midpoint of that gap. How do you know how to
1135 |924 |01:22:09 ~-~-> 01:22:13 |place your stop losses where they're at? ICT, when you put those stop losses in,
1136 |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
1137 |926 |01:22:16 ~-~-> 01:22:21 |never goes there. It's this type of stuff behind me. I'm I'm measuring all
1138 |927 |01:22:21 ~-~-> 01:22:26 |of the potential for the market to respect certain levels with this logic,
1139 |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
1140 |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
1141 |930 |01:22:34 ~-~-> 01:22:42 |order block because that's what starts this run lower. Notice that. So that
1142 |931 |01:22:42 ~-~-> 01:22:45 |takes us to the minor cell side liquidity here. Why is it a minor cell
1143 |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
1144 |933 |01:22:50 ~-~-> 01:22:54 |going to go down here, and I'm aiming down here in this layered cell side
1145 |934 |01:22:54 ~-~-> 01:22:59 |liquidity. And if it's going to go there, how far could it go? It can go
1146 |935 |01:22:59 ~-~-> 01:23:05 |down to the new weak opening gap, and if it expands through that, what's the next
1147 |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
1148 |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
1149 |938 |01:23:18 ~-~-> 01:23:24 |have captured this low No, and then trading down to this low. What I held on
1150 |939 |01:23:24 ~-~-> 01:23:28 |further? No, I'm not interested, because I understand what's forming. It's making
1151 |940 |01:23:28 ~-~-> 01:23:32 |the market jagged down here. It's enticing. People keep selling short.
1152 |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
1153 |942 |01:23:38 ~-~-> 01:23:45 |trades down to last Friday's New Day, opening gap, and then shows a
1154 |943 |01:23:45 ~-~-> 01:23:48 |willingness to want to go higher, and then trades right back over top of all
1155 |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
1156 |945 |01:23:54 ~-~-> 01:23:59 |that level here. Why? Because I have rules, I have protocols, I have
1157 |946 |01:23:59 ~-~-> 01:24:05 |understanding, and I know when to stop. I need to stop. Pull the plug, and the
1158 |947 |01:24:05 ~-~-> 01:24:10 |market will still gyrate. Someone, someone could very well be long in here.
1159 |948 |01:24:10 ~-~-> 01:24:14 |Great. Did you understand that the market was going to do the sell off
1160 |949 |01:24:14 ~-~-> 01:24:20 |here? Did you participate in anything going short? There are you mad about not
1161 |950 |01:24:20 ~-~-> 01:24:24 |catching that initial run. See, these are all things that you're going to have
1162 |951 |01:24:24 ~-~-> 01:24:29 |to learn how to cope with and replace it with, instead of toxic thinking like
1163 |952 |01:24:29 ~-~-> 01:24:33 |that, saying, Okay, well, these are the things I've done correctly, and this is
1164 |953 |01:24:33 ~-~-> 01:24:37 |panning out for me, and I'm growing in my understanding, and I'm making
1165 |954 |01:24:37 ~-~-> 01:24:41 |progress. It may be monetary and it may not be monetary initially, maybe just in
1166 |955 |01:24:41 ~-~-> 01:24:46 |your experience, gaining each day and the week that you do these things that
1167 |956 |01:24:46 ~-~-> 01:24:50 |exercise and build in your understanding, or it may be demo profits
1168 |957 |01:24:50 ~-~-> 01:24:55 |that you're going to use as a means to lean on. Because when you first start
1169 |958 |01:24:55 ~-~-> 01:24:59 |trading with real money, when you take losing trades, what reference Do you
1170 |959 |01:24:59 ~-~-> 01:25:03 |have? You haven't made a run of profitable trades. What experience do
1171 |960 |01:25:03 ~-~-> 01:25:07 |you have to lean on to encourage yourself the demo trading where you did
1172 |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
1173 |962 |01:25:12 ~-~-> 01:25:16 |you to stick with it. It's so easy to quit this industry, very, very easy to
1174 |963 |01:25:16 ~-~-> 01:25:20 |quit it. There's so many things that's going to cause you to second guess
1175 |964 |01:25:20 ~-~-> 01:25:24 |yourself, doubt it, and just the work ethic that's required is going to keep
1176 |965 |01:25:24 ~-~-> 01:25:27 |most of you from ever becoming profitable. And it's not because you
1177 |966 |01:25:27 ~-~-> 01:25:29 |don't have a good mentor. It's not because you don't have concepts being
1178 |967 |01:25:29 ~-~-> 01:25:34 |taught to you that are useful. It's because you aren't ready. That's really
1179 |968 |01:25:34 ~-~-> 01:25:43 |what it is. But anyway, the the gravitational brawl on price or based on
1180 |969 |01:25:43 ~-~-> 01:25:48 |the watches I gave you last week. So again, I tipped my hand to you last week
1181 |970 |01:25:48 ~-~-> 01:25:55 |in a grand level every single time I was on Twitter, every single time I am in
1182 |971 |01:25:55 ~-~-> 01:25:58 |other people's live streams, and I'm pointing to specific levels. This is the
1183 |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
1184 |973 |01:26:03 ~-~-> 01:26:09 |tell you, with no uncertain terms, that this is such a huge advantage. Some of
1185 |974 |01:26:09 ~-~-> 01:26:14 |you already know. I mean, you sent me emails and whatnot saying, This is wild,
1186 |975 |01:26:14 ~-~-> 01:26:17 |like, this is like, this is really, like, I can see it now, right? And
1187 |976 |01:26:17 ~-~-> 01:26:20 |that's how it should be, but you're still going to do it wrong eventually,
1188 |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
1189 |978 |01:26:23 ~-~-> 01:26:28 |fix that one day problem, that one day error that you caused in your own hands.
1190 |979 |01:26:28 ~-~-> 01:26:34 |And then that's going to create a toxic response to you being responsive to an
1191 |980 |01:26:34 ~-~-> 01:26:38 |emotional or psychological impact of you doing it wrong. You don't want to go
1192 |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
1193 |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
1194 |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
1195 |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
1196 |985 |01:26:51 ~-~-> 01:26:56 |going to cause you to want to do something to fix it. And my advice to
1197 |986 |01:26:56 ~-~-> 01:27:01 |you is, don't go home with the loss. Realize it, take it home, sleep on it
1198 |987 |01:27:01 ~-~-> 01:27:06 |and feel what it feels like. And you're going to find out, unless the Lord says
1199 |988 |01:27:06 ~-~-> 01:27:10 |no, the sun's going to come up tomorrow, the market's going to be trading, and
1200 |989 |01:27:10 ~-~-> 01:27:17 |this stuff will still be in the charts. But something happens where we lose all
1201 |990 |01:27:17 ~-~-> 01:27:23 |rational thinking and we just go nuts. And they call it tilt, where you just
1202 |991 |01:27:23 ~-~-> 01:27:27 |completely, just are out of your mind, and you're just trying to do anything,
1203 |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
1204 |993 |01:27:31 ~-~-> 01:27:35 |you cause severe drawdown, or blow the account, or lose the funded account, or
1205 |994 |01:27:35 ~-~-> 01:27:42 |fail the combine. I see this so many times, so many individuals out there
1206 |995 |01:27:42 ~-~-> 01:27:45 |that they're in other people's live streams. They're saying, Oh, I just blew
1207 |996 |01:27:45 ~-~-> 01:27:50 |my account again. Or the live streamers themselves are blowing their accounts,
1208 |997 |01:27:50 ~-~-> 01:27:53 |and they're showing you new accounts that they just started up because
1209 |998 |01:27:53 ~-~-> 01:27:56 |they're not consistently holding on to the same ones. But there's people
1210 |999 |01:27:56 ~-~-> 01:28:01 |flocking to them watching that, and their only real interest is, is they're
1211 |1000 |01:28:01 ~-~-> 01:28:06 |going to give out a discounted affiliate link, not that they can trade, not that
1212 |1001 |01:28:06 ~-~-> 01:28:09 |they have any useful information coming out of their mouth. Is it? Give us a
1213 |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
1214 |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
1215 |1004 |01:28:19 ~-~-> 01:28:23 |streaming. And this is no knock against anybody else, but that's why I teach. I
1216 |1005 |01:28:23 ~-~-> 01:28:27 |teach people to be their own independent thinker. But there's also going to be a
1217 |1006 |01:28:27 ~-~-> 01:28:32 |big, huge crowd of new people going to watch other people doing it. I watch
1218 |1007 |01:28:32 ~-~-> 01:28:35 |other people do it. I don't ever take a trade with another live stream or doing
1219 |1008 |01:28:35 ~-~-> 01:28:38 |something that I think, well, that's a good idea. I didn't see that coming. Let
1220 |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
1221 |1010 |01:28:43 ~-~-> 01:28:49 |there looking for their crowd, their cheerleaders in the chat window. I want
1222 |1011 |01:28:49 ~-~-> 01:28:52 |to see their response, and if it's diametrically opposed to the things I'm
1223 |1012 |01:28:52 ~-~-> 01:28:57 |teaching you here, well, guess what that means? It's Candy Land. It's literally
1224 |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
1225 |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
1226 |1015 |01:29:04 ~-~-> 01:29:08 |squeal and whine and say, You're a jerk. ICT, you called it right, and I lost
1227 |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
1228 |1017 |01:29:11 ~-~-> 01:29:14 |that. And when they watch other people, it didn't necessarily have to be my
1229 |1018 |01:29:14 ~-~-> 01:29:17 |stuff, but other people that had the balls and the Moxie to stand out there
1230 |1019 |01:29:17 ~-~-> 01:29:20 |and tell the world what they're doing and trade and push the button in front
1231 |1020 |01:29:20 ~-~-> 01:29:24 |of other people, I got a lot of respect for that. Respect for that, but they get
1232 |1021 |01:29:24 ~-~-> 01:29:28 |trolled. They get trolled for doing something the people that are trolling
1233 |1022 |01:29:28 ~-~-> 01:29:34 |them can't do or would never do, and they're miserable. But I love that,
1234 |1023 |01:29:34 ~-~-> 01:29:39 |because that proves that I'm going to get an emotional sentiment reading by
1235 |1024 |01:29:39 ~-~-> 01:29:43 |that group of people and when they have trolls in their comment section, and
1236 |1025 |01:29:43 ~-~-> 01:29:47 |other people are biting back at those trolls, and they're saying, the market's
1237 |1026 |01:29:47 ~-~-> 01:29:49 |going to go here, and the market's going, what did they do? They
1238 |1027 |01:29:49 ~-~-> 01:29:55 |emotionally wagered they've committed themselves. So I'm literally teaching
1239 |1028 |01:29:55 ~-~-> 01:30:00 |you how I use other live streamers chat window, and my my point. I'm telling you
1240 |1029 |01:30:00 ~-~-> 01:30:04 |this is start looking at it when, when it does these types of things, when you
1241 |1030 |01:30:04 ~-~-> 01:30:10 |start seeing it, okay? It's the perfect sentiment indicator when people are
1242 |1031 |01:30:10 ~-~-> 01:30:16 |showing you their hand, and it's emotionally driven and it's a lot of
1243 |1032 |01:30:16 ~-~-> 01:30:22 |emojis, or it's very, very pointed language against someone or the market,
1244 |1033 |01:30:23 ~-~-> 01:30:27 |they're telling you that they are completely letting go of the steering
1245 |1034 |01:30:27 ~-~-> 01:30:33 |wheel, closing their eyes and flooring the gas pedal. And if they're saying
1246 |1035 |01:30:33 ~-~-> 01:30:38 |that the market is going to go up, and I'm anticipating it going down, and that
1247 |1036 |01:30:38 ~-~-> 01:30:43 |criteria is there, and it's uncanny, they're doing that right when it's
1248 |1037 |01:30:43 ~-~-> 01:30:46 |trading into a fair value gap, or it's trading right above a short term high.
1249 |1038 |01:30:46 ~-~-> 01:30:52 |That should be upsetting buy SOPs, and they're bullish. I'm going long. I'm
1250 |1039 |01:30:52 ~-~-> 01:30:55 |long now I'm long 15 contracts. What are they telling you? They're traded with
1251 |1040 |01:30:55 ~-~-> 01:30:58 |the funded account. They're not passed the funded account yet, and they're
1252 |1041 |01:30:58 ~-~-> 01:31:04 |trying to make it all in that one trade. Perfect. Perfect. That is the perfect
1253 |1042 |01:31:04 ~-~-> 01:31:08 |scenario for ICT as a sentiment indicator, because now I'm going short,
1254 |1043 |01:31:11 ~-~-> 01:31:15 |but everything I'm doing behind the scenes is what I've been teaching you.
1255 |1044 |01:31:15 ~-~-> 01:31:16 |Last week.
1256 |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.
1257 |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
1258 |1047 |01:31:25 ~-~-> 01:31:29 |like, man, like it's literally doing everything right? I don't know why
1259 |1048 |01:31:29 ~-~-> 01:31:35 |you're surprised. I'm your dad's ICT, right? And when I watch other people,
1260 |1049 |01:31:36 ~-~-> 01:31:39 |and they're just staring at the charts, they don't know what they're looking
1261 |1050 |01:31:39 ~-~-> 01:31:43 |for, and they're talking and they're talking and they're talking when there's
1262 |1051 |01:31:43 ~-~-> 01:31:48 |opportunities, there's really opportunities right there. And then when
1263 |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,
1264 |1053 |01:31:54 ~-~-> 01:31:57 |I've literally told you where the market's going to go. And you can use
1265 |1054 |01:31:57 ~-~-> 01:32:02 |any retail logic entry pattern after that to get in sync with it and write it
1266 |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
1267 |1056 |01:32:07 ~-~-> 01:32:10 |doing to come to those conclusions? What I taught last week and what you saw here
1268 |1057 |01:32:10 ~-~-> 01:32:16 |today, now, when I, when I get stopped out, and you watch me get stopped out in
1269 |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
1270 |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
1271 |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
1272 |1061 |01:32:31 ~-~-> 01:32:35 |understand that the mechanics on a day like today, ahead of CPI and PPI numbers
1273 |1062 |01:32:35 ~-~-> 01:32:40 |back to back, Tuesday and Wednesday. It's a Monday. I didn't have TGIF
1274 |1063 |01:32:40 ~-~-> 01:32:43 |deliver on Friday. Okay, then it's going to be deferred. It's going to retrace
1275 |1064 |01:32:43 ~-~-> 01:32:48 |back into the range during Monday's trading, especially if we open up at
1276 |1065 |01:32:48 ~-~-> 01:32:55 |seven o'clock in the morning here and we punch above the marketplace to upset
1277 |1066 |01:32:55 ~-~-> 01:33:06 |what relative equal highs here. Where was that? Formed in London. So I know
1278 |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
1279 |1068 |01:33:10 ~-~-> 01:33:13 |needed to do was trade above these relative equal highs, because that's
1280 |1069 |01:33:13 ~-~-> 01:33:17 |what formed after seven o'clock in the morning. Just like I taught last week,
1281 |1070 |01:33:18 ~-~-> 01:33:21 |the rules are not morphing. I'm not changing, I'm not cherry picking
1282 |1071 |01:33:21 ~-~-> 01:33:27 |anything. Everything is the same thing every single day, and that's exactly
1283 |1072 |01:33:27 ~-~-> 01:33:30 |what your trading has to be. If you're trying to change settings and you're
1284 |1073 |01:33:30 ~-~-> 01:33:34 |optimizing bullshit because you know you got you're trying to look good in front
1285 |1074 |01:33:34 ~-~-> 01:33:38 |of other people. If you're constantly optimizing, you have substandard
1286 |1075 |01:33:38 ~-~-> 01:33:45 |bullshit. It's seven o'clock cooks. You know, seven o'clock isn't changing when
1287 |1076 |01:33:45 ~-~-> 01:33:48 |it's seven o'clock, it does when you go to different time frames or time zones
1288 |1077 |01:33:48 ~-~-> 01:33:52 |in the world. But I've already told everybody, calibrate. Everybody's
1289 |1078 |01:33:52 ~-~-> 01:33:58 |calendar, everyone's clock, everyone's charts, have to be ICT time. It's the
1290 |1079 |01:33:58 ~-~-> 01:34:03 |same ICT time, it's the same ICT fucking channel. Everything's going to be the
1291 |1080 |01:34:03 ~-~-> 01:34:07 |same thing every single day. You're not trying to reinvent the wheel. You're not
1292 |1081 |01:34:07 ~-~-> 01:34:10 |trying to make it better. You're not trying to optimize. You're not trying to
1293 |1082 |01:34:10 ~-~-> 01:34:15 |change settings. There's no fucking settings. Do you understand the value in
1294 |1083 |01:34:15 ~-~-> 01:34:20 |that? At seven o'clock, you're going to delineate that is a marking point, and
1295 |1084 |01:34:20 ~-~-> 01:34:22 |then you're going to wait for relative equal highs and relative equal low
1296 |1085 |01:34:22 ~-~-> 01:34:28 |relative equal lows in that fucking delicious isn't that delicious that it's
1297 |1086 |01:34:28 ~-~-> 01:34:32 |not going to hide from you. They cannot hide it from you. How are they gonna
1298 |1087 |01:34:32 ~-~-> 01:34:37 |keep seven o'clock from hiding? They're somehow gonna hide seven o'clock like
1299 |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
1300 |1089 |01:34:41 ~-~-> 01:34:45 |time, you're somehow going to forget that seven o'clock is on the front of
1301 |1090 |01:34:45 ~-~-> 01:34:50 |the face of the clock. They can't hide that. Then what are you waiting for?
1302 |1091 |01:34:50 ~-~-> 01:34:53 |You're waiting for relative equal highs and lows to form, and you're waiting for
1303 |1092 |01:34:53 ~-~-> 01:34:59 |them to be breached. And here's the thing, if they have the market in a
1304 |1093 |01:34:59 ~-~-> 01:35:07 |premium. Oh, you were talking about that in those internship videos. Michael,
1305 |1094 |01:35:08 ~-~-> 01:35:13 |could you peel back that onion a little bit more? Sure? Sure I can. Last week, I
1306 |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
1307 |1096 |01:35:21 ~-~-> 01:35:27 |there, you're looking for relative equal highs to form, if listen, if we're above
1308 |1097 |01:35:28 ~-~-> 01:35:33 |new week opening gap and clustering of New Day opening gaps, all of last week's
1309 |1098 |01:35:33 ~-~-> 01:35:40 |New Day opening gaps, where are they? In proximity to where we are here? Where
1310 |1099 |01:35:40 ~-~-> 01:35:45 |are they? Where's price in relationship to this week's new week opening up at
1311 |1100 |01:35:45 ~-~-> 01:35:50 |seven o'clock, we're above it. The previous new week's opening got we're
1312 |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
1313 |1102 |01:35:57 ~-~-> 01:36:05 |a discount. So how can it mathematically and use time go back to a random fucking
1314 |1103 |01:36:05 ~-~-> 01:36:16 |point, unless it has a very specific reach to time, date, day of week, week
1315 |1104 |01:36:16 ~-~-> 01:36:23 |of month, month of year. And where are these inefficiencies when time of
1316 |1105 |01:36:23 ~-~-> 01:36:34 |trading begins and ends? Oh, my, oh my, that's delicious, isn't it? My dogs like
1317 |1106 |01:36:34 ~-~-> 01:36:40 |it. Hang on. I think it's probably Amazon. Give me one second. I
1318 |1107 |01:37:19 ~-~-> 01:37:23 |i gotta tell you, really I enjoy these live streams because I don't have to go
1319 |1108 |01:37:23 ~-~-> 01:37:27 |back and edit anything. And I'm really loving this new ICT where I'm not
1320 |1109 |01:37:27 ~-~-> 01:37:34 |worried about, you know, a little quirky things that used to bother me. So
1321 |1110 |01:37:34 ~-~-> 01:37:39 |anyway, when we have these, these signatures I outlined last week, and we
1322 |1111 |01:37:39 ~-~-> 01:37:46 |start at predetermined price times, price times, times of the day, which are
1323 |1112 |01:37:46 ~-~-> 01:37:51 |what I gave you last week. We're measuring. We're waiting. What are you
1324 |1113 |01:37:51 ~-~-> 01:37:56 |waiting for? ICT, at seven o'clock. What are we looking for? Well, you're looking
1325 |1114 |01:37:56 ~-~-> 01:38:06 |for a directional run. Okay? And if we are starting at seven o'clock here, and
1326 |1115 |01:38:06 ~-~-> 01:38:10 |we have the new week opening gap for this particular week of trading, which
1327 |1116 |01:38:10 ~-~-> 01:38:14 |forms on August 11, Sunday's opening price relative to Friday's closing
1328 |1117 |01:38:14 ~-~-> 01:38:21 |price, if we're above that, that's one check box that is likely to displace and
1329 |1118 |01:38:21 ~-~-> 01:38:25 |move and deliver, sell side delivery. That means it's going to enter a cell
1330 |1119 |01:38:25 ~-~-> 01:38:28 |program. It means it's going to drop. The price is going to have a sustained
1331 |1120 |01:38:28 ~-~-> 01:38:36 |price run lower. It's further likely to occur if you have new day opening gaps
1332 |1121 |01:38:36 ~-~-> 01:38:42 |clustering below where price starts at seven o'clock. Well, you have your
1333 |1122 |01:38:42 ~-~-> 01:38:47 |Friday New Day opening gap and all the ones below it, and then you have last
1334 |1123 |01:38:47 ~-~-> 01:38:55 |week's previous new week opening gap down here. See that? So that's likely to
1335 |1124 |01:38:55 ~-~-> 01:39:02 |draw down into these levels. Wonderful. So now you have the first elements to
1336 |1125 |01:39:02 ~-~-> 01:39:07 |building your understanding of bias. So you're not looking to go long. Even if
1337 |1126 |01:39:07 ~-~-> 01:39:12 |the market springs higher and takes off it has a real huge dynamic price run.
1338 |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,
1339 |1128 |01:39:18 ~-~-> 01:39:26 |which is going to occur above old highs that formed after seven o'clock. So I'm
1340 |1129 |01:39:26 ~-~-> 01:39:30 |waiting for relative equal highs to form, and then I'm waiting for price to
1341 |1130 |01:39:30 ~-~-> 01:39:38 |pierce above it. When that happens, I'm not afraid. I'm literally high on
1342 |1131 |01:39:38 ~-~-> 01:39:43 |goofballs. I'm looking for the opportunity to see the price go below,
1343 |1132 |01:39:43 ~-~-> 01:39:48 |and it does right there that validates that as a bearish order block, not
1344 |1133 |01:39:48 ~-~-> 01:39:55 |because it traded above London's high. That's not it. It's not it ran stops
1345 |1134 |01:39:56 ~-~-> 01:40:00 |above London's high. So now someone's going to call the fucking the. They what
1346 |1135 |01:40:00 ~-~-> 01:40:04 |they call the fu candle. It's an institutional candle. You fucking
1347 |1136 |01:40:04 ~-~-> 01:40:07 |clowns. There's no such thing as an institutional candle, okay? You fucking
1348 |1137 |01:40:07 ~-~-> 01:40:11 |multi, multi level marketing mother fuckers. You liars, man, you're fucking
1349 |1138 |01:40:11 ~-~-> 01:40:14 |liars. Come out here and call every fucking candle like I do. Do that. Then
1350 |1139 |01:40:14 ~-~-> 01:40:18 |you'll have, then you'll prove that you have something hindsight. Motherfuckers,
1351 |1140 |01:40:19 ~-~-> 01:40:26 |relative equal eyes, okay? It goes above that and then shows me. It proves to me
1352 |1141 |01:40:27 ~-~-> 01:40:31 |that this change in the state of delivery, that opening price on that
1353 |1142 |01:40:31 ~-~-> 01:40:36 |candle, I want to be at that price, or between the low that candles, wick on
1354 |1143 |01:40:36 ~-~-> 01:40:39 |that candle anywhere near that's my sweet spot. That's where I'm trying to
1355 |1144 |01:40:39 ~-~-> 01:40:45 |trade. But my risk has to be defined as much as the midpoint or mean threshold
1356 |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.
1357 |1146 |01:40:53 ~-~-> 01:40:59 |ICT, damn, this is good. Yes, I'm cooking out all week. Come back. I got
1358 |1147 |01:40:59 ~-~-> 01:41:04 |some good shit coming. But that opening price, that's my entry on that candle. I
1359 |1148 |01:41:04 ~-~-> 01:41:09 |don't have them up here doing, sorry, I'm sitting here acting like you can see
1360 |1149 |01:41:10 ~-~-> 01:41:16 |the prices again. Here's the opening price, and that's the fill. Okay, that's
1361 |1150 |01:41:16 ~-~-> 01:41:20 |the logic being used. And then in here, that's this human error pushing the
1362 |1151 |01:41:20 ~-~-> 01:41:24 |button. And I was looking at Piper, thinking, man, you're messing up a
1363 |1152 |01:41:24 ~-~-> 01:41:29 |perfect illustration today, but I love her anyway. And then the market trades
1364 |1153 |01:41:29 ~-~-> 01:41:32 |with this fair Vega, and we have this order block as well. So the opening
1365 |1154 |01:41:32 ~-~-> 01:41:38 |price on an up close candle, when the market is in a sell program, that means
1366 |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
1367 |1156 |01:41:43 ~-~-> 01:41:49 |protracted delivery lower. It's moving lower. It's going down for a specific
1368 |1157 |01:41:49 ~-~-> 01:41:55 |reason, for inefficiencies that are in a discount and or sell stops, which is
1369 |1158 |01:41:55 ~-~-> 01:42:01 |sell side liquidity. So what does that mean? I want to be selling short when
1370 |1159 |01:42:01 ~-~-> 01:42:09 |the market returns into any inefficiency or up at the butt end of an up close
1371 |1160 |01:42:09 ~-~-> 01:42:15 |candle, because that's a bearish order block. Okay, so we have this candlestick
1372 |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
1373 |1162 |01:42:21 ~-~-> 01:42:26 |the lowest threshold entry, the easy one, the one I know I'm going to get.
1374 |1163 |01:42:26 ~-~-> 01:42:30 |I'm not going to worry about not getting it because of a limit order not filling.
1375 |1164 |01:42:30 ~-~-> 01:42:34 |What is it? It's the low of that fair value gap on that city right there,
1376 |1165 |01:42:35 ~-~-> 01:42:39 |right here, this candlestick right there, defined by this candle sticks
1377 |1166 |01:42:39 ~-~-> 01:42:44 |high. I want to use that candlesticks high. I'm using that as my point of
1378 |1167 |01:42:44 ~-~-> 01:42:49 |reference to get into the trade, knowing full well that this candlestick right
1379 |1168 |01:42:49 ~-~-> 01:42:57 |here is a bearish order block, but I have to afford myself the likelihood of
1380 |1169 |01:42:57 ~-~-> 01:43:06 |it touching this fair value gap. Again, notice that. So am I going to adjust the
1381 |1170 |01:43:06 ~-~-> 01:43:10 |stop loss? Because this fare back got formed and I went in here and added
1382 |1171 |01:43:10 ~-~-> 01:43:15 |more. Am I going to roll the stop loss aggressively, because it's it's afforded
1383 |1172 |01:43:15 ~-~-> 01:43:21 |me another entry? No. And when I add to it here, am I going to trade and
1384 |1173 |01:43:21 ~-~-> 01:43:26 |aggressively lower my stop loss simply because I went into a trade. No, I have
1385 |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
1386 |1175 |01:43:31 ~-~-> 01:43:35 |doing what I wanted to do. The bodies are being kept at the high of that fair
1387 |1176 |01:43:35 ~-~-> 01:43:40 |value gap right there, and essentially the midpoint of this order block, which
1388 |1177 |01:43:40 ~-~-> 01:43:45 |is mean threshold. So first time hearing this, if you're a first time viewer,
1389 |1178 |01:43:45 ~-~-> 01:43:48 |right away, this is bullshit to you, and you're going and looking for overall
1390 |1179 |01:43:48 ~-~-> 01:43:51 |oversold indicators and moving average, that's you're looking for. You're
1391 |1180 |01:43:51 ~-~-> 01:43:55 |looking for a signal service. And I want you to leave, because I have no interest
1392 |1181 |01:43:55 ~-~-> 01:44:00 |in dealing with people that are like that. I want to bring you quickly. Okay,
1393 |1182 |01:44:00 ~-~-> 01:44:05 |when I teach, I'm going to filter out the chaff, because if you really want to
1394 |1183 |01:44:05 ~-~-> 01:44:08 |learn how to do this, you're taking notes, you're listening, and you're
1395 |1184 |01:44:08 ~-~-> 01:44:11 |listening for logic that repeats, and you're going to fucking hear me say this
1396 |1185 |01:44:11 ~-~-> 01:44:14 |at nauseam. It's going to repeat a lot. You repeat yourself so much, go fuck
1397 |1186 |01:44:14 ~-~-> 01:44:18 |yourself. Comment, boy, because I'm teaching, I want to prove that what I'm
1398 |1187 |01:44:18 ~-~-> 01:44:23 |doing is a repeating logic. It's a repeating logic that you have to have
1399 |1188 |01:44:23 ~-~-> 01:44:27 |ingrained in your understanding and when you're watching price because if it's
1400 |1189 |01:44:27 ~-~-> 01:44:31 |not part of your intellect, if it's not part of your vernacular, if it's not
1401 |1190 |01:44:31 ~-~-> 01:44:35 |part of your daily technical vocabulary, then you're gonna fucking fail, aren't
1402 |1191 |01:44:35 ~-~-> 01:44:40 |you? But guess what? If I'm constantly bloviating on about how this is, this is
1403 |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
1404 |1193 |01:44:44 ~-~-> 01:44:47 |isn't, and it's never changing. It's never morphing. And then something new,
1405 |1194 |01:44:48 ~-~-> 01:44:52 |then it's scientifically proven. Nine out of 10 doctors will fucking approve
1406 |1195 |01:44:52 ~-~-> 01:44:57 |the ice. He's got his shit together, and it's gonna repeat. So therefore you have
1407 |1196 |01:44:57 ~-~-> 01:45:01 |no excuse not to be doing this stuff and observing it. And logging it and looking
1408 |1197 |01:45:01 ~-~-> 01:45:04 |for these signatures to be in price action. That's the experience that
1409 |1198 |01:45:04 ~-~-> 01:45:08 |you're lacking. That's what overcomes the fear and the anxiety and the
1410 |1199 |01:45:08 ~-~-> 01:45:11 |worrisome thoughts that you're thinking. You're thinking the algorithm is going
1411 |1200 |01:45:11 ~-~-> 01:45:14 |to stop working, because here I am. I'm teaching it live in front of everybody,
1412 |1201 |01:45:14 ~-~-> 01:45:17 |and now more people are going to learn it, and they're going to change the
1413 |1202 |01:45:17 ~-~-> 01:45:21 |algorithm. No, they're not. They're not. Okay, they're not. Because this is the
1414 |1203 |01:45:21 ~-~-> 01:45:26 |science of how price is booked. So if this is what price is going to do, are
1415 |1204 |01:45:26 ~-~-> 01:45:32 |they going to be able to change time? Seven o'clock ain't never going to come.
1416 |1205 |01:45:32 ~-~-> 01:45:37 |No, it's always going to be there. London session is always going to be
1417 |1206 |01:45:37 ~-~-> 01:45:41 |there. The New York sessions am is going to be there. The pm session in New York
1418 |1207 |01:45:41 ~-~-> 01:45:44 |is going to be there. And you saw last week how to deal with the Asian
1419 |1208 |01:45:44 ~-~-> 01:45:50 |sessions. You want to trade that time of day. You may do it wrong, but they're
1420 |1209 |01:45:50 ~-~-> 01:45:58 |not changing. Okay? So anyway, as I was watching price action, I mentioned how,
1421 |1210 |01:45:58 ~-~-> 01:46:04 |because these are relatively equal. What is it? Those are relative equal highs at
1422 |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
1423 |1212 |01:46:10 ~-~-> 01:46:16 |didn't have one, and I wasn't stopped out prematurely in gain, in profit. This
1424 |1213 |01:46:16 ~-~-> 01:46:20 |is your nine o'clock setup, right here. Isn't that your relative equal highs?
1425 |1214 |01:46:21 ~-~-> 01:46:25 |Isn't this price Run from here up to there, opposing where you think price
1426 |1215 |01:46:25 ~-~-> 01:46:29 |may draw to, or I was taking your attention here, and I told you the new
1427 |1216 |01:46:29 ~-~-> 01:46:34 |week opening gap last week, that's where it's going to draw to any clustering of
1428 |1217 |01:46:34 ~-~-> 01:46:45 |New Day opening gaps. That's your Friday New Day opening gap. These are the word
1429 |1218 |01:46:45 ~-~-> 01:46:51 |escapes me. These are qualifying factors that put probability so far in your
1430 |1219 |01:46:51 ~-~-> 01:46:56 |favor, and it was taught to you in advance last week in the same lot just
1431 |1220 |01:46:56 ~-~-> 01:47:01 |working here again, we're not trying to predict the closing price here, folks,
1432 |1221 |01:47:01 ~-~-> 01:47:05 |we're just trading a session run, something that's going to yield you
1433 |1222 |01:47:05 ~-~-> 01:47:12 |something that is clear. It's one sided. It's going to be very pronounced in
1434 |1223 |01:47:12 ~-~-> 01:47:15 |price. It's not going to be something that, oh, it looks like it could have
1435 |1224 |01:47:15 ~-~-> 01:47:19 |ran, but it's hard to tell there. No, it's definitely a run. It's
1436 |1225 |01:47:19 ~-~-> 01:47:23 |definitely a protraction in price. It's one directional, and it goes to a level
1437 |1226 |01:47:23 ~-~-> 01:47:30 |that can be predetermined. It's not random. Okay, this type of lesson I
1438 |1227 |01:47:30 ~-~-> 01:47:35 |would have, man, I would have given anything if someone knew this and was
1439 |1228 |01:47:35 ~-~-> 01:47:39 |willing to teach it to me when I was first starting, because I would be all
1440 |1229 |01:47:39 ~-~-> 01:47:43 |over these charts, studying, annotating and putting all these things in a
1441 |1230 |01:47:43 ~-~-> 01:47:47 |journal every single day and adhering to these rules, and I would be so much
1442 |1231 |01:47:47 ~-~-> 01:47:51 |better the trader and person, and I wouldn't have all the mental baggage I
1443 |1232 |01:47:51 ~-~-> 01:47:56 |have that I put myself it was self inflicted. But you have all the
1444 |1233 |01:47:56 ~-~-> 01:48:01 |advantages of having this information now and going forward, studying and
1445 |1234 |01:48:01 ~-~-> 01:48:06 |learning how to better yourself and avoid all of the bullshit nonsense
1446 |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
1447 |1236 |01:48:10 ~-~-> 01:48:13 |markets gonna do. This is what makes the market go up. This is a technique. This
1448 |1237 |01:48:13 ~-~-> 01:48:17 |is a pattern. This is some horse shit, some algo. This is some kind of a
1449 |1238 |01:48:18 ~-~-> 01:48:25 |indicator. Take the fucking indicators off your chart, every single one of
1450 |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
1451 |1240 |01:48:28 ~-~-> 01:48:32 |you, get over it, man, because you're you're literally lying to yourself when
1452 |1241 |01:48:32 ~-~-> 01:48:36 |you're saying that that indicator has any bearing on what price is doing. It
1453 |1242 |01:48:36 ~-~-> 01:48:40 |has absolutely fuck all to do with what price is going to do. It does nothing.
1454 |1243 |01:48:41 ~-~-> 01:48:45 |It's literally doing nothing. It's calculating, compressing, mathematically
1455 |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
1456 |1245 |01:48:51 ~-~-> 01:48:56 |time when the market is going to run. This is how the moves set up. They
1457 |1246 |01:48:56 ~-~-> 01:49:00 |engineer liquidity, then they run the liquidity. That's the manipulation. When
1458 |1247 |01:49:00 ~-~-> 01:49:04 |you see that manipulation gets guess what that means. The other side of the
1459 |1248 |01:49:04 ~-~-> 01:49:08 |marketplace is now it tag mother fucker. You're it. It's gonna go the direction.
1460 |1249 |01:49:09 ~-~-> 01:49:13 |And some of you are still gonna say this is complicated. It's not complicated. It
1461 |1250 |01:49:13 ~-~-> 01:49:18 |literally is the easiest shit. There's nothing else that can be easier than
1462 |1251 |01:49:18 ~-~-> 01:49:24 |this. Literally. I mean, how many times again, every time this does this, I'm
1463 |1252 |01:49:24 ~-~-> 01:49:28 |going to show you again, how many times you need to see this before you start
1464 |1253 |01:49:28 ~-~-> 01:49:32 |taking it serious and saying, I'm going to start journaling and start looking
1465 |1254 |01:49:32 ~-~-> 01:49:35 |for this stuff in old news and collecting data that way, I'm building
1466 |1255 |01:49:35 ~-~-> 01:49:40 |pseudo experience that will be used going forward when I walk test forward,
1467 |1256 |01:49:40 ~-~-> 01:49:45 |everything that's that's not realized in price delivery yet. That means you're
1468 |1257 |01:49:45 ~-~-> 01:49:48 |walking forward with the hard right edge. You don't know what price is going
1469 |1258 |01:49:48 ~-~-> 01:49:52 |to do next. So you're looking at the chart like this, you don't know what
1470 |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
1471 |1260 |01:49:56 ~-~-> 01:50:00 |streamers and just listen what they're doing, and if it, if they think it's. To
1472 |1261 |01:50:00 ~-~-> 01:50:03 |go up. You wait for it to move 30 handles, if they even hold a trade that
1473 |1262 |01:50:03 ~-~-> 01:50:06 |long, and then once it starts stealing it, it's usually the big, bold green
1474 |1263 |01:50:06 ~-~-> 01:50:10 |candle or bullish candle, then you'll go in and buy because, you know, it's got
1475 |1264 |01:50:10 ~-~-> 01:50:14 |five more handles that run. And then it starts squeezing against you 17 handles,
1476 |1265 |01:50:14 ~-~-> 01:50:16 |and you get out and but then it goes right where you thought it was going to
1477 |1266 |01:50:17 ~-~-> 01:50:21 |go, or the live streamer hinted at, but never took the trade to get there. And
1478 |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
1479 |1268 |01:50:25 ~-~-> 01:50:30 |how this does it over and over and over again. But to break that cycle, and to
1480 |1269 |01:50:30 ~-~-> 01:50:33 |prevent yourself from going through those types of things, you have to have
1481 |1270 |01:50:33 ~-~-> 01:50:38 |some kind of baseline. You have to have something you're going to start doing
1482 |1271 |01:50:38 ~-~-> 01:50:45 |and measuring. And then not only what is price doing when it's behaving a certain
1483 |1272 |01:50:45 ~-~-> 01:50:51 |way, but how you feel, how you're feeling when the market does certain
1484 |1273 |01:50:51 ~-~-> 01:50:55 |things. Do you get it real excited when you get in front of the charts and you
1485 |1274 |01:50:55 ~-~-> 01:50:59 |anticipate something happening and it starts moving in your favor? Notice, are
1486 |1275 |01:50:59 ~-~-> 01:51:04 |you getting really emotional and like adrenaline rush that you're right, and
1487 |1276 |01:51:04 ~-~-> 01:51:08 |are you focused on the feeling of you being right at the moment? Because
1488 |1277 |01:51:09 ~-~-> 01:51:15 |that's a problem. You cannot invite the warm and fuzzies until you close the
1489 |1278 |01:51:15 ~-~-> 01:51:20 |idea that means it goes to Terminus where you would no longer be in a trade,
1490 |1279 |01:51:20 ~-~-> 01:51:25 |and you have stages of your development before you even get to that part, even
1491 |1280 |01:51:25 ~-~-> 01:51:28 |with a demo, like we're just talking about the fundamentals of determining
1492 |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
1493 |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
1494 |1283 |01:51:36 ~-~-> 01:51:41 |the why it's going to do it. That proves there's a fucking algorithm. Because if
1495 |1284 |01:51:41 ~-~-> 01:51:44 |I'm pulling out of my ass, like some people, like to go around the internet
1496 |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
1497 |1286 |01:51:47 ~-~-> 01:51:52 |telling you beforehand where it's going to go look at the live streamers on
1498 |1287 |01:51:52 ~-~-> 01:51:59 |YouTube, predominantly, most of them, and I like lots of them, and I have an
1499 |1288 |01:51:59 ~-~-> 01:52:03 |affinity for A few of them, but most of them, they don't know where price is
1500 |1289 |01:52:03 ~-~-> 01:52:08 |going. They're reacting off of something that forms at a later time. They don't
1501 |1290 |01:52:08 ~-~-> 01:52:14 |they really don't know where it's dry driving to. And I've counseled one in
1502 |1291 |01:52:14 ~-~-> 01:52:20 |particular to watch these lectures to help them. So while I'm not mentioning
1503 |1292 |01:52:20 ~-~-> 01:52:26 |their name, per se, they understand what I'm saying right now and who I'm talking
1504 |1293 |01:52:26 ~-~-> 01:52:34 |to. If you start to implement these ideas, your trades will grow
1505 |1294 |01:52:34 ~-~-> 01:52:38 |exponentially, in terms of the yield, in terms of how much you're getting out of
1506 |1295 |01:52:38 ~-~-> 01:52:43 |it, the precision elements will increase. And the comfort of you being
1507 |1296 |01:52:43 ~-~-> 01:52:46 |in the trade and not being so skittish about okay, I don't like this and
1508 |1297 |01:52:46 ~-~-> 01:52:56 |getting out, I rarely have that. In my 20s, I was a basket case. I'm watching
1509 |1298 |01:52:56 ~-~-> 01:53:01 |quotere, you know, watching charts go up and down just by price. And I didn't
1510 |1299 |01:53:01 ~-~-> 01:53:05 |have charts. We just watched the data, the highest high and the lowest low, and
1511 |1300 |01:53:05 ~-~-> 01:53:11 |where it's at right now. How many contracts are traded? That's it. That's
1512 |1301 |01:53:11 ~-~-> 01:53:16 |what you had. So because of that experience, I learned how to read the
1513 |1302 |01:53:16 ~-~-> 01:53:21 |tape without realizing, knowing that that's what I was doing. And every time
1514 |1303 |01:53:21 ~-~-> 01:53:26 |the high of the day would be breached, and they would back off on the bond
1515 |1304 |01:53:26 ~-~-> 01:53:32 |market, or back off on British Pound futures, or back off on silver contracts
1516 |1305 |01:53:32 ~-~-> 01:53:37 |or cruel or whatever I was trading at time, live cattle, lean hogs, whatever
1517 |1306 |01:53:37 ~-~-> 01:53:43 |it was I was trading, I wasn't aware that I was learning how the market will
1518 |1307 |01:53:43 ~-~-> 01:53:50 |constantly keep pressing into liquidity. I just felt that, okay, it's going to be
1519 |1308 |01:53:50 ~-~-> 01:53:53 |a blast off move, because we just broke the high the day, no not realizing that
1520 |1309 |01:53:53 ~-~-> 01:53:58 |there could be deeper retracements around elements of time, because anytime
1521 |1310 |01:53:58 ~-~-> 01:54:01 |the market moved above a certain level, because I only wanted to be a buyer.
1522 |1311 |01:54:01 ~-~-> 01:54:04 |Then when I first started, I thought that now it broke out, it's going to
1523 |1312 |01:54:04 ~-~-> 01:54:07 |keep going higher, and I would be frustrated that we would have
1524 |1313 |01:54:07 ~-~-> 01:54:11 |retracements, and because I didn't know how far it would retrace, I didn't
1525 |1314 |01:54:11 ~-~-> 01:54:14 |understand where the Fairbank gaps were when I first started doing this. I
1526 |1315 |01:54:14 ~-~-> 01:54:17 |didn't understand where the buy set of balance consequent encroachment would
1527 |1316 |01:54:17 ~-~-> 01:54:20 |be. I didn't know where the short term lows would be, that they would go down
1528 |1317 |01:54:20 ~-~-> 01:54:23 |there to sweep them and start running higher and create a new and create a new
1529 |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
1530 |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
1531 |1320 |01:54:31 ~-~-> 01:54:35 |know those things initially. I didn't, I didn't have that understanding. I didn't
1532 |1321 |01:54:35 ~-~-> 01:54:40 |have the insight, experience seeing it, executing on it. I didn't have that.
1533 |1322 |01:54:41 ~-~-> 01:54:45 |These are all things I had to grow through and through prayer and just
1534 |1323 |01:54:45 ~-~-> 01:54:51 |helping you myself through personal counseling, which was, I mean, here I
1535 |1324 |01:54:51 ~-~-> 01:54:58 |am. I'm swinging from one spectrum to the next. Imagine being the person
1536 |1325 |01:54:58 ~-~-> 01:55:02 |that's going to coach you. You. But also tears yourself down, and you're the
1537 |1326 |01:55:02 ~-~-> 01:55:07 |person also that this ran into the tree with that account recklessly driving,
1538 |1327 |01:55:07 ~-~-> 01:55:10 |you know, the next trade before you should have taken it like it was, it was
1539 |1328 |01:55:10 ~-~-> 01:55:16 |crazy, like it was literally insane. And how I arrived, you know, if it wasn't
1540 |1329 |01:55:16 ~-~-> 01:55:20 |God helping me, I would have never arrived at my understanding of how these
1541 |1330 |01:55:20 ~-~-> 01:55:27 |markets do this. But I had to have some kind of foundation, and I'm providing
1542 |1331 |01:55:27 ~-~-> 01:55:35 |that for all of you, and you're not entitled to it. Okay? I'm not obligated
1543 |1332 |01:55:35 ~-~-> 01:55:40 |to tell this to you, but I just know that even when I'm done with this,
1544 |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
1545 |1334 |01:55:44 ~-~-> 01:55:49 |happens with Caleb, he could be wildly successful. He could be modestly
1546 |1335 |01:55:49 ~-~-> 01:55:53 |successful. You know, if he just gets half his monthly bills, I'm tickled to
1547 |1336 |01:55:53 ~-~-> 01:55:58 |death by that. If he can just make his monthly expense of where he lives, all
1548 |1337 |01:55:58 ~-~-> 01:56:03 |his bills paid, car insurance, all those things he has to pay out of that of his
1549 |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
1550 |1339 |01:56:07 ~-~-> 01:56:14 |better. And everything's expensive. But all of these foundational points here,
1551 |1340 |01:56:14 ~-~-> 01:56:21 |this is my best for him. Okay, this is my best. I'm not holding back because
1552 |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
1553 |1342 |01:56:26 ~-~-> 01:56:30 |the real thing. It's exactly what's going on the marketplace. And I even
1554 |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
1555 |1344 |01:56:33 ~-~-> 01:56:36 |I'm calling it and many times it's against what they're saying. And it's
1556 |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
1557 |1346 |01:56:40 ~-~-> 01:56:46 |streamer. I've never talked bad about them, but I'm also there sharing, and
1558 |1347 |01:56:46 ~-~-> 01:56:49 |I'm not doing it where. Okay, well, they're long. I'm going to go short
1559 |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
1560 |1349 |01:56:52 ~-~-> 01:56:56 |I see. And the people that follow me and understand me, they know right away what
1561 |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
1562 |1351 |01:57:00 ~-~-> 01:57:03 |about. So whatever the market's doing right now, he's going to be looking to
1563 |1352 |01:57:03 ~-~-> 01:57:07 |go up into some kind of premium array. That means go through the time frames
1564 |1353 |01:57:07 ~-~-> 01:57:14 |now, you know, 15, five, one. Go through it, and you'll see the fair value gaps,
1565 |1354 |01:57:14 ~-~-> 01:57:18 |the inversion fair value gaps, the order blocks, as I'm talking about here today.
1566 |1355 |01:57:19 ~-~-> 01:57:24 |Reading price like this. Caleb, you're not trying. I'm not trying to sway your
1567 |1356 |01:57:24 ~-~-> 01:57:29 |your interest in to an order block. I'm just showing you how when you're bearish
1568 |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
1569 |1358 |01:57:32 ~-~-> 01:57:38 |going lower. Up close candles should be used as a means of saving off any
1570 |1359 |01:57:38 ~-~-> 01:57:42 |advance higher. But not every up close candle is going to perform like that.
1571 |1360 |01:57:43 ~-~-> 01:57:48 |It'll go back up into inefficiencies. It may touch the inefficiency again. Why?
1572 |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
1573 |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
1574 |1363 |01:57:58 ~-~-> 01:58:06 |big game, because the opening bell is in 30 minutes. So at 930 right here, there,
1575 |1364 |01:58:07 ~-~-> 01:58:11 |as soon as that bell opens, or, sorry, as soon as the opening bell happens, and
1576 |1365 |01:58:11 ~-~-> 01:58:14 |the market's technically, quote, unquote open, it's been trading, but that's what
1577 |1366 |01:58:14 ~-~-> 01:58:19 |they call the day session. What has it done? Well, at that moment, it's created
1578 |1367 |01:58:19 ~-~-> 01:58:24 |these relative equal highs and has these relative equal highs, and that gap right
1579 |1368 |01:58:24 ~-~-> 01:58:29 |there so it can return back into it. Now I could have very easily moved my stop
1580 |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
1581 |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
1582 |1371 |01:58:39 ~-~-> 01:58:43 |me. It's just removing me off the bus before the bus goes where I was
1583 |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
1584 |1373 |01:58:47 ~-~-> 01:58:53 |here. I was showing you where the limit order was. I wanted to get out down
1585 |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
1586 |1375 |01:58:56 ~-~-> 01:59:01 |I talk like this. It's very easy for people with no character or just to just
1587 |1376 |01:59:02 ~-~-> 01:59:05 |little dick energy boys, okay, they'll say, Oh, you're saying that in Hines. I
1588 |1377 |01:59:05 ~-~-> 01:59:10 |literally do this all the time. I show you what I'm interested in, but if it
1589 |1378 |01:59:10 ~-~-> 01:59:14 |starts to really move, I'll take the limit order, expand it beyond, and then
1590 |1379 |01:59:14 ~-~-> 01:59:18 |I'll start taking single partials off. When it gets to levels, I like, just go
1591 |1380 |01:59:18 ~-~-> 01:59:22 |watch my examples. This is on Twitter and on my YouTube channel, like when I
1592 |1381 |01:59:22 ~-~-> 01:59:28 |do those things, I'm using predominantly the logic I'm showing you here. Okay, so
1593 |1382 |01:59:28 ~-~-> 01:59:31 |this is how you start learning how to read where price is going to go.
1594 |1383 |01:59:31 ~-~-> 01:59:36 |Because, as I said on baby pips, that's your first lesson. You have to know
1595 |1384 |01:59:36 ~-~-> 01:59:40 |where the market's going to go. If you don't do your initial work, there
1596 |1385 |01:59:40 ~-~-> 01:59:47 |anything and everything that you do is wasted time. And I can't stress that
1597 |1386 |01:59:47 ~-~-> 01:59:52 |enough, Caleb, if you try to do anything more than try to figure out where the
1598 |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
1599 |1388 |01:59:57 ~-~-> 02:00:01 |obvious based on what I'm showing you. Just in last week's lecture, and today,
1600 |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,
1601 |1390 |02:00:08 ~-~-> 02:00:11 |because the only thing you'll do is you're going to try to arm wrestle and
1602 |1391 |02:00:11 ~-~-> 02:00:18 |develop your will. And it'll be many times contrarian. And I had to wrestle
1603 |1392 |02:00:18 ~-~-> 02:00:20 |myself out of the contrarian perspective. I mean, I There's certain
1604 |1393 |02:00:20 ~-~-> 02:00:24 |times where I look for it to be beneficial for me as a trader, I let my
1605 |1394 |02:00:24 ~-~-> 02:00:27 |personality, which is what I was talking about here, and every other time I talk
1606 |1395 |02:00:27 ~-~-> 02:00:32 |about other people's live streams, the ones that have a live chat open and they
1607 |1396 |02:00:32 ~-~-> 02:00:37 |allow other people to talk I am diametrically opposed to the sentiment
1608 |1397 |02:00:38 ~-~-> 02:00:41 |of whatever they're saying. If the things I'm teaching are technically
1609 |1398 |02:00:41 ~-~-> 02:00:47 |there in price at the time I'm looking for that. Those are my best trades.
1610 |1399 |02:00:47 ~-~-> 02:00:52 |Those are the times where I am absolutely in stunner mode. I got no
1611 |1400 |02:00:52 ~-~-> 02:00:57 |problem going out in public and saying, This is where it's going. And look how
1612 |1401 |02:00:57 ~-~-> 02:01:02 |over the head. Look at the history on Twitter. 10s of 1000s of you would be in
1613 |1402 |02:01:02 ~-~-> 02:01:08 |my live stream, or whatever shorter space listening, and I'm calling every
1614 |1403 |02:01:08 ~-~-> 02:01:13 |single individual woman at candle and where it went to. And then you watch my
1615 |1404 |02:01:13 ~-~-> 02:01:17 |examples of recorded trades. And then I'm out here live streaming now, giving
1616 |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
1617 |1406 |02:01:23 ~-~-> 02:01:25 |going to worry about there is no algorithm, or it's going to stop
1618 |1407 |02:01:25 ~-~-> 02:01:30 |working, or I'm making up stuff. You You're you're worried about all the
1619 |1408 |02:01:30 ~-~-> 02:01:34 |wrong things instead of just learning how to do it yourself. You don't have to
1620 |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,
1621 |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
1622 |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,
1623 |1412 |02:01:46 ~-~-> 02:01:51 |give praise to God. That's it, because I want the invitation to redirect it right
1624 |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
1625 |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
1626 |1415 |02:02:02 ~-~-> 02:02:07 |stop open once I reduce it and I'm content with getting stopped out. If I
1627 |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
1628 |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,
1629 |1418 |02:02:17 ~-~-> 02:02:23 |and it's not today, because we have big news tomorrow, and frankly, I'm not
1630 |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
1631 |1420 |02:02:30 ~-~-> 02:02:33 |still deliver where I said I was going to go, because that's going to happen to
1632 |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
1633 |1422 |02:02:40 ~-~-> 02:02:45 |face? No because everything I'm teaching and taught last week is in your chart.
1634 |1423 |02:02:46 ~-~-> 02:02:51 |It's happening every day, and they're not going to stop doing it, because
1635 |1424 |02:02:51 ~-~-> 02:02:55 |there's a whole lot of people out there even listening to me, they're not going
1636 |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.
1637 |1426 |02:03:01 ~-~-> 02:03:05 |They're never going to trade with real money because they're afraid. So there's
1638 |1427 |02:03:05 ~-~-> 02:03:09 |no there's no concern there either. They're never going to pass their funded
1639 |1428 |02:03:09 ~-~-> 02:03:14 |account challenge because they don't have all the the wherewithal to be
1640 |1429 |02:03:14 ~-~-> 02:03:17 |personally responsible. They're going to over trade. They're going to over
1641 |1430 |02:03:17 ~-~-> 02:03:20 |leverage, even understanding this, they're still going to break the rules.
1642 |1431 |02:03:22 ~-~-> 02:03:26 |That's why I have students from 2016 that still aren't profitable. Not all of
1643 |1432 |02:03:26 ~-~-> 02:03:29 |them are like that, but I do have students from my very first paid
1644 |1433 |02:03:29 ~-~-> 02:03:34 |mentorship that can't find their way through this. And the ones that are
1645 |1434 |02:03:34 ~-~-> 02:03:37 |honest, they've been very candid with me. They say these are the same
1646 |1435 |02:03:37 ~-~-> 02:03:44 |repeating things I keep doing, and I can't stop I can't help them. They have
1647 |1436 |02:03:44 ~-~-> 02:03:48 |to make the decision. They know what those things are, so they have to figure
1648 |1437 |02:03:48 ~-~-> 02:03:51 |out what those triggering mechanisms are that cause them to keep doing that
1649 |1438 |02:03:51 ~-~-> 02:03:55 |repeated phenomenon that they know is going to give them an adverse response,
1650 |1439 |02:03:55 ~-~-> 02:03:59 |it's not going to get them the results that they're looking for. So they keep
1651 |1440 |02:03:59 ~-~-> 02:04:03 |doing it over and over again, expecting a different result, and that's where the
1652 |1441 |02:04:03 ~-~-> 02:04:10 |frustrations coming from. And for an educator, it's very frustrating for me,
1653 |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
1654 |1443 |02:04:16 ~-~-> 02:04:21 |it's all in their hands. Clearly, the things I'm telling you are there in the
1655 |1444 |02:04:21 ~-~-> 02:04:28 |charts. It's happening every single day. The problem is you're either not able to
1656 |1445 |02:04:28 ~-~-> 02:04:31 |identify because you haven't spent enough time practicing and logging and
1657 |1446 |02:04:31 ~-~-> 02:04:37 |then watching price deliver real time looking for these things to repeat. Yes,
1658 |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
1659 |1448 |02:04:42 ~-~-> 02:04:49 |sucked, but after I blew a number of accounts, I would have been really
1660 |1449 |02:04:49 ~-~-> 02:04:53 |interested in trying to do it. I know that because I had the tenacity to do
1661 |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
1662 |1451 |02:05:01 ~-~-> 02:05:07 |not knowing how to read price. I went in wanting to know everything about it. I
1663 |1452 |02:05:07 ~-~-> 02:05:12 |wanted to know everything that was there for me to take advantage of everybody
1664 |1453 |02:05:12 ~-~-> 02:05:18 |else's perspective and be superior to that was my goal. I wasn't trying to be
1665 |1454 |02:05:18 ~-~-> 02:05:22 |the best trader in the world. I wanted to be the guy that knew exactly what's
1666 |1455 |02:05:22 ~-~-> 02:05:27 |going to happen. And for some of you that you know that can't happen, and
1667 |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
1668 |1457 |02:05:31 ~-~-> 02:05:38 |that's always been my goal. And the way that these these concepts, you know,
1669 |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
1670 |1459 |02:05:42 ~-~-> 02:05:45 |that's behind the scenes that I can't teach you. These are the closest things
1671 |1460 |02:05:45 ~-~-> 02:05:50 |that get me to that point. And truth be told, I am not satisfied with it,
1672 |1461 |02:05:51 ~-~-> 02:05:56 |because I know there's some way that I could probably explain it differently,
1673 |1462 |02:05:56 ~-~-> 02:06:00 |and it would open up your understanding a lot better based on what I've already
1674 |1463 |02:06:00 ~-~-> 02:06:09 |shown that keeps repeating. But even in even knowing that I don't know how to do
1675 |1464 |02:06:09 ~-~-> 02:06:15 |that, it's very frustrating. So I had to, you know, be content with what I've
1676 |1465 |02:06:15 ~-~-> 02:06:18 |done, because I know I have students that do really, really well, and if it
1677 |1466 |02:06:18 ~-~-> 02:06:21 |was something that wasn't really there, they wouldn't be doing well, would they?
1678 |1467 |02:06:21 ~-~-> 02:06:25 |They wouldn't make money. They wouldn't have the accolades that they can prove
1679 |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
1680 |1469 |02:06:30 ~-~-> 02:06:33 |work, and they're making money, lots of money, you know, they don't work their
1681 |1470 |02:06:33 ~-~-> 02:06:37 |job. They have their own little business now, doing their thing. And to me, it's
1682 |1471 |02:06:37 ~-~-> 02:06:48 |awesome, but you have to have some kind of personal responsibility going into
1683 |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
1684 |1473 |02:06:52 ~-~-> 02:06:54 |say he sucks, and he's a fraud, and stuff doesn't work. Well, first of all,
1685 |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,
1686 |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
1687 |1476 |02:07:01 ~-~-> 02:07:05 |happens. I mean, look at these levels, look look at behaves around these
1688 |1477 |02:07:05 ~-~-> 02:07:10 |levels, and why it does what it does when it does it. See, these are all
1689 |1478 |02:07:10 ~-~-> 02:07:13 |questions I asked myself initially as a 20 year old. I'm like,
1690 |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
1691 |1480 |02:07:18 ~-~-> 02:07:24 |way stop. There's no way for me to determine that move starting when it
1692 |1481 |02:07:24 ~-~-> 02:07:29 |started like there's no way for me to have arrived at that. And then I would
1693 |1482 |02:07:29 ~-~-> 02:07:35 |go in and say, Okay, what was occurring? Then? What did price look like? Then,
1694 |1483 |02:07:35 ~-~-> 02:07:38 |what did every one of these Open, High, Low, Close bars, because that's what I
1695 |1484 |02:07:38 ~-~-> 02:07:42 |was using back then, not candlesticks. My eyes were better than they are today.
1696 |1485 |02:07:43 ~-~-> 02:07:45 |And I would stare at them and make annotations, and a lot of things that I
1697 |1486 |02:07:45 ~-~-> 02:07:49 |thought initially were catalysts for why they I soon found out that they had
1698 |1487 |02:07:49 ~-~-> 02:07:52 |nothing to do with it. And I would search indicators and see which one of
1699 |1488 |02:07:52 ~-~-> 02:07:57 |the indicators would do a better job of determining that it was going to go up
1700 |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
1701 |1490 |02:08:02 ~-~-> 02:08:06 |telling you, listen, sit still for a minute. I can't come about to close this
1702 |1491 |02:08:09 ~-~-> 02:08:14 |video. I want you to spend the least amount of time learning how to do this.
1703 |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
1704 |1493 |02:08:21 ~-~-> 02:08:24 |able to do this and know beyond the shadow of doubt even if you make a
1705 |1494 |02:08:24 ~-~-> 02:08:29 |mistake today or tomorrow or the next day that you trade that that loss
1706 |1495 |02:08:29 ~-~-> 02:08:33 |doesn't undermine your desire to do this and your confidence in trusting it.
1707 |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
1708 |1497 |02:08:41 ~-~-> 02:08:45 |know you can, but you're going to have to sit down and go through this, and
1709 |1498 |02:08:45 ~-~-> 02:08:49 |it's going to be daunting. It's going to feel like you're not learning anything.
1710 |1499 |02:08:49 ~-~-> 02:08:54 |It's going to feel like it ain't clicking for you. But it's going to
1711 |1500 |02:08:54 ~-~-> 02:09:00 |happen if you keep pressing into it, you'll see it. You'll be able to see
1712 |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
1713 |1502 |02:09:03 ~-~-> 02:09:23 |doing it. Last was it Sunday? We were watching it. What was it Friday? When
1714 |1503 |02:09:23 ~-~-> 02:09:26 |you see these things repeat, you'll be able to do this. Anything that was done
1715 |1504 |02:09:26 ~-~-> 02:09:29 |this candle stays going to go right up here. It's going to stop right here, and
1716 |1505 |02:09:29 ~-~-> 02:09:34 |then immediately that next candle, or the candle right after that one on a one
1717 |1506 |02:09:34 ~-~-> 02:09:38 |minute chart, you'll be able to determine the magnitude, the speed and
1718 |1507 |02:09:38 ~-~-> 02:09:42 |where it's going to run right to and it's going to feel like a mutant
1719 |1508 |02:09:42 ~-~-> 02:09:50 |superpower, and it gives you confidence. And in your age, because you're still in
1720 |1509 |02:09:50 ~-~-> 02:09:54 |your 20s, you could potentially become an arrogant prick like I was, because
1721 |1510 |02:09:54 ~-~-> 02:09:57 |when you're 20 years old, you already think your shit doesn't stink, and you
1722 |1511 |02:09:57 ~-~-> 02:10:01 |walk around and peacock about the smalls of little things you. Uh, because you
1723 |1512 |02:10:01 ~-~-> 02:10:08 |want other people to recognize you and give you another boy. But it'll impress
1724 |1513 |02:10:08 ~-~-> 02:10:16 |dad more if you quell that and you just learn how to just be consistent and not
1725 |1514 |02:10:16 ~-~-> 02:10:20 |be arrogant, not be arrogant to your brothers if you get good at because
1726 |1515 |02:10:20 ~-~-> 02:10:23 |they're going to look at you and they're going to pattern themselves after what
1727 |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
1728 |1517 |02:10:28 ~-~-> 02:10:31 |arrogant and not try to talk down anybody when you start making lots of
1729 |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,
1730 |1519 |02:10:39 ~-~-> 02:10:43 |you're not trying to be talking to anybody in a condescending tone, not to,
1731 |1520 |02:10:43 ~-~-> 02:10:48 |not to act like you're better than everybody else, because you're going to
1732 |1521 |02:10:48 ~-~-> 02:10:53 |want to do that sometimes, and that's not going to be what people see in you.
1733 |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.
1734 |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
1735 |1524 |02:11:00 ~-~-> 02:11:04 |they feel the same impulse. They want to be significant, and they think acting
1736 |1525 |02:11:04 ~-~-> 02:11:10 |like that will yield them significance or clout. And I'm trying to tell you, as
1737 |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
1738 |1527 |02:11:16 ~-~-> 02:11:20 |you find your way in success with this stuff, and you want to teach everything
1739 |1528 |02:11:20 ~-~-> 02:11:26 |that you know that I'm holding back for you getting this foundation, if you want
1740 |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
1741 |1530 |02:11:31 ~-~-> 02:11:36 |I give it to you, it's yours, but you have the ability to determine that. But
1742 |1531 |02:11:36 ~-~-> 02:11:45 |if you're not properly rooted in decency, and modesty and not being
1743 |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
1744 |1533 |02:11:52 ~-~-> 02:11:59 |show those signatures and your character, but if you use this and you
1745 |1534 |02:11:59 ~-~-> 02:12:03 |do well with it, and you show that you're not being arrogant or egotistical
1746 |1535 |02:12:03 ~-~-> 02:12:08 |or just trying to be better than everybody else. Believe me, you're going
1747 |1536 |02:12:08 ~-~-> 02:12:14 |to try it because it's going to feel like you arrived. It's going to feel
1748 |1537 |02:12:14 ~-~-> 02:12:19 |like you are a superstar, and therefore you're you deserve to be treated as a
1749 |1538 |02:12:19 ~-~-> 02:12:29 |celebrity. Don't try to be a celebrity. Make Your Money live well, let everybody
1750 |1539 |02:12:29 ~-~-> 02:12:34 |else think whatever they want to think about you. It doesn't change, it doesn't
1751 |1540 |02:12:34 ~-~-> 02:12:39 |reduce, it doesn't increase it, but you're concerned about everybody else's
1752 |1541 |02:12:39 ~-~-> 02:12:42 |opinion about you will be a personal reflection on you, and you'll care more
1753 |1542 |02:12:42 ~-~-> 02:12:51 |about that stuff than just the things that you're supposed to be doing
1754 |1543 |02:12:51 ~-~-> 02:12:53 |watching this thing just cascade lower and lower.
1755 |1544 |02:12:59 ~-~-> 02:13:05 |Beautiful drop. Did something happen? I don't have any news wires in front of me
1756 |1545 |02:13:05 ~-~-> 02:13:10 |because I'm just on my laptop wondering if something just happened there. I
1757 |1546 |02:13:10 ~-~-> 02:13:12 |mean, technically, we went back to the level I already outlined
1758 |1547 |02:13:17 ~-~-> 02:13:24 |to you. Well, I said what I wanted to say today, and I showed you the logic
1759 |1548 |02:13:24 ~-~-> 02:13:31 |working. You saw me get stopped out knocking out at like trail stop loss. So
1760 |1549 |02:13:31 ~-~-> 02:13:38 |it's not a loss when I showed how all these concepts work, and I talk about
1761 |1550 |02:13:38 ~-~-> 02:13:43 |how the market's going to behave, and it does it on Twitter, I had always people
1762 |1551 |02:13:43 ~-~-> 02:13:46 |ask me all the time, can you show a losing trade? Can you just do it wrong
1763 |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
1764 |1553 |02:13:50 ~-~-> 02:13:55 |that. The 20 year old in me loved reading comments like that. And I would
1765 |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,
1766 |1555 |02:13:58 ~-~-> 02:14:03 |Look at this. And that was just me, just nodding to the younger man, and me
1767 |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,
1768 |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
1769 |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
1770 |1559 |02:14:21 ~-~-> 02:14:25 |close it. Obviously we have day 30 news drivers on Tuesday and Wednesday.
1771 |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
1772 |1561 |02:14:29 ~-~-> 02:14:33 |predict the market ahead of that you've seen on Twitter and wherever else I've
1773 |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
1774 |1563 |02:14:36 ~-~-> 02:14:39 |and it would go the other direction, which is fine, because I'm not trying to
1775 |1564 |02:14:39 ~-~-> 02:14:43 |trade ahead of the CPI, not trying to trade ahead of the PPI number. PPI
1776 |1565 |02:14:43 ~-~-> 02:14:46 |number. They're face rippers. They're little bit decapitate you if you're
1777 |1566 |02:14:46 ~-~-> 02:14:51 |wrong, and it's unforgiving. So what we are doing is we're going to start our
1778 |1567 |02:14:51 ~-~-> 02:14:58 |session at 915 tomorrow, and on Wednesday and Thursday and Friday. So
1779 |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
1780 |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
1781 |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
1782 |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
1783 |1572 |02:15:14 ~-~-> 02:15:17 |they'll already be on the chart populated. So then when the stream
1784 |1573 |02:15:17 ~-~-> 02:15:21 |starts, I'll say, Okay, good morning, whatever. And then point to, this is
1785 |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
1786 |1575 |02:15:24 ~-~-> 02:15:28 |want to see if it does this or that. Then, therefore, I would be looking for
1787 |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,
1788 |1577 |02:15:32 ~-~-> 02:15:38 |you'll see how I'm really looking at price and formulating an idea around
1789 |1578 |02:15:38 ~-~-> 02:15:43 |bias. Maybe talk about, you know, how the market may behave in specific
1790 |1579 |02:15:43 ~-~-> 02:15:46 |profiles, not that you need to know how to do that right now. Caleb, it's not
1791 |1580 |02:15:46 ~-~-> 02:15:49 |even really essential at all, really, because all you're looking for is a run
1792 |1581 |02:15:49 ~-~-> 02:15:58 |from a stop hunt that is engineered based around time, then price, then it
1793 |1582 |02:15:58 ~-~-> 02:16:03 |goes to an area of inefficiency, drawing to a new week opening gap and or a
1794 |1583 |02:16:03 ~-~-> 02:16:07 |clustering of New Day or new week opening gap or a clustering of New Day
1795 |1584 |02:16:07 ~-~-> 02:16:17 |opening gaps. So it's this very, very bland, not sexy, not terribly exciting,
1796 |1585 |02:16:17 ~-~-> 02:16:23 |rule based idea of determining where the markets likely to go to and why. It's
1797 |1586 |02:16:23 ~-~-> 02:16:26 |the same logic I taught you last week. It's the same general idea I taught when
1798 |1587 |02:16:26 ~-~-> 02:16:32 |I was teaching liquidity, but I'm giving you a much more refined rate, to the
1799 |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
1800 |1589 |02:16:35 ~-~-> 02:16:39 |son, if you don't like, go fuck yourself. The idea is that you want to
1801 |1590 |02:16:39 ~-~-> 02:16:46 |strip it down to the Chrome. Where is it going? Why should it go there? And how
1802 |1591 |02:16:46 ~-~-> 02:16:50 |can I know when it's going to start doing it? And what is the beginning of
1803 |1592 |02:16:50 ~-~-> 02:16:55 |that move? Well, you're looking for the market to open up with your time when
1804 |1593 |02:16:55 ~-~-> 02:16:59 |you're going to sit down in front of charts. And if prices above New Leaf
1805 |1594 |02:16:59 ~-~-> 02:17:04 |opening gap, clustering of new opening gaps the market will tend to seek those
1806 |1595 |02:17:04 ~-~-> 02:17:09 |old reference points. Then if you're going to be looking for it to go lower,
1807 |1596 |02:17:09 ~-~-> 02:17:15 |you want to see relative equal highs form and then pierce them. And then once
1808 |1597 |02:17:15 ~-~-> 02:17:18 |it rejects that, all you have to do is get on board with a fair value gap,
1809 |1598 |02:17:18 ~-~-> 02:17:22 |institutional order flow entry drill a bearish breaker, a bearish order block,
1810 |1599 |02:17:23 ~-~-> 02:17:29 |a bearish mitigation block, inversion, fair value gap that used to be viewed as
1811 |1600 |02:17:29 ~-~-> 02:17:32 |maybe something that would have been bullish, but now, once it trades below
1812 |1601 |02:17:32 ~-~-> 02:17:39 |it, if it trades back up into it, see how fast it easily becomes usable. The
1813 |1602 |02:17:39 ~-~-> 02:17:43 |language now suddenly mean something. Instead of just talking like an ICT
1814 |1603 |02:17:43 ~-~-> 02:17:51 |student or SMT, SMC, Smart Money concepts trader, you understand what
1815 |1604 |02:17:51 ~-~-> 02:17:55 |that stuff means, not just using buzzwords. And then you know what you're
1816 |1605 |02:17:55 ~-~-> 02:18:01 |looking for. And by having that, that understanding that repeats and that
1817 |1606 |02:18:01 ~-~-> 02:18:05 |processes that you go through following specific protocols you'll learn by
1818 |1607 |02:18:05 ~-~-> 02:18:12 |experience, where your best setups for your personal risk and appetite for
1819 |1608 |02:18:13 ~-~-> 02:18:19 |leveraging anything in here in terms of real money, there's no shortcuts to it,
1820 |1609 |02:18:19 ~-~-> 02:18:23 |son, I promise you, If there was, I would be giving it to you, and you'd
1821 |1610 |02:18:23 ~-~-> 02:18:28 |already be using it. But this is the first part that everybody has to do. You
1822 |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
1823 |1612 |02:18:35 ~-~-> 02:18:40 |things I've already taught. But this is the shortest route through it. There's
1824 |1613 |02:18:40 ~-~-> 02:18:45 |no, there's nothing I can do to shorten this learning curve with what I'm
1825 |1614 |02:18:45 ~-~-> 02:18:49 |showing you here. And for some of you that are listening from the outside and
1826 |1615 |02:18:49 ~-~-> 02:18:54 |you think that this is too hard, too too daunting for you, I am not the mentor
1827 |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.
1828 |1617 |02:18:59 ~-~-> 02:19:02 |You just never have to come back here again. Don't waste your time if, if what
1829 |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
1830 |1619 |02:19:06 ~-~-> 02:19:10 |the market's doing and how it's behaving. Don't watch anything from me.
1831 |1620 |02:19:10 ~-~-> 02:19:13 |Don't even watch anybody else that talks about my stuff, because they're not
1832 |1621 |02:19:13 ~-~-> 02:19:17 |going to make it any easier for you. I promise you, they will not explain this.
1833 |1622 |02:19:17 ~-~-> 02:19:22 |They had no understanding what I gave last week at all, zero. Not one of my
1834 |1623 |02:19:22 ~-~-> 02:19:25 |paid mentorship students knew what I was teaching last week. You heard all the
1835 |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
1836 |1625 |02:19:31 ~-~-> 02:19:37 |them were teaching like that. So you're all in the same playing field right now.
1837 |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
1838 |1627 |02:19:42 ~-~-> 02:19:46 |skip ahead and don't try to be better faster than you should be. You're not
1839 |1628 |02:19:46 ~-~-> 02:19:51 |even supposed to be taking trades right now. But the logic is, is it gravitating
1840 |1629 |02:19:51 ~-~-> 02:19:56 |away from these things at the same time? Is it occurring at when we should see it
1841 |1630 |02:19:56 ~-~-> 02:20:01 |happen? The backdrop behind the trade? When it went to this level here,
1842 |1631 |02:20:02 ~-~-> 02:20:06 |piercing above just these little short term highs after seven o'clock, formed
1843 |1632 |02:20:08 ~-~-> 02:20:13 |all that logic. That's the repeating phenomenons that you're going to get
1844 |1633 |02:20:13 ~-~-> 02:20:16 |real comfortable with. And that means that you know what you're looking for.
1845 |1634 |02:20:16 ~-~-> 02:20:21 |How many times have you spent looking at the chart thinking, damn, I wish my dad
1846 |1635 |02:20:21 ~-~-> 02:20:26 |could just tell me how to read this easy. Like, all it looks like a foreign
1847 |1636 |02:20:26 ~-~-> 02:20:31 |language, like I used to look at charts, and it would just bleed together in the
1848 |1637 |02:20:31 ~-~-> 02:20:34 |open, high, low, close bars. You ever stare, and all of a sudden it goes to a
1849 |1638 |02:20:34 ~-~-> 02:20:38 |blur and like, almost like a double vision, like you're crossing your eyes.
1850 |1639 |02:20:38 ~-~-> 02:20:42 |I would be like that two hours before going to work, and I have been up all
1851 |1640 |02:20:42 ~-~-> 02:20:48 |night long, and I have to drive for a living back then, and it felt like a
1852 |1641 |02:20:48 ~-~-> 02:20:54 |language I was never going to learn. I know what that feels like, but
1853 |1642 |02:20:54 ~-~-> 02:20:59 |eventually, doing these things, you're going to start seeing it like sheet
1854 |1643 |02:20:59 ~-~-> 02:21:02 |music. I know you know how to play the instrument. You can read sheet music. To
1855 |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
1856 |1645 |02:21:06 ~-~-> 02:21:12 |played the trombone in school when he was in marching band, and my oldest son,
1857 |1646 |02:21:12 ~-~-> 02:21:18 |Cody, used to play the saxophone, and Cameron played the drums, and Caden
1858 |1647 |02:21:18 ~-~-> 02:21:22 |didn't play any instruments, but they had the ability of reading sheet music,
1859 |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.
1860 |1649 |02:21:27 ~-~-> 02:21:33 |It's something says, No, you are not going to pass. So I understanding what
1861 |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
1862 |1651 |02:21:36 ~-~-> 02:21:40 |to the degree does it, I understand it seems like something you can't do, but
1863 |1652 |02:21:40 ~-~-> 02:21:45 |I'm confident, son, I'm absolutely confident that everything I taught you
1864 |1653 |02:21:45 ~-~-> 02:21:49 |last week and what's in this today, and the reinforcement ideas that I'm giving
1865 |1654 |02:21:49 ~-~-> 02:21:54 |you here, that's all you need, and the rest is you just practicing it and
1866 |1655 |02:21:54 ~-~-> 02:21:59 |studying it and collecting the information. I promise you, you will
1867 |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
1868 |1657 |02:22:03 ~-~-> 02:22:07 |to buy and sell and pyramid and every entry that that's all that this is not
1869 |1658 |02:22:07 ~-~-> 02:22:12 |That's not important, but being able to read where price is going to go, that is
1870 |1659 |02:22:12 ~-~-> 02:22:17 |your first mutant power. All of you listening. That's your first goal to get
1871 |1660 |02:22:17 ~-~-> 02:22:23 |good at that. Because everything after that point is easy.
1872 |1661 |02:22:24 ~-~-> 02:22:29 |You'll anticipate fair value gaps when you're likely to see it go lower, just
1873 |1662 |02:22:29 ~-~-> 02:22:33 |simply wait for it to form on the chart. And that's what forward walk testing is.
1874 |1663 |02:22:34 ~-~-> 02:22:37 |Walking forward testing delivery of price where you're not pressing any
1875 |1664 |02:22:37 ~-~-> 02:22:40 |buttons, you're just tape reading. You're going to watch them form it's
1876 |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
1877 |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
1878 |1667 |02:22:47 ~-~-> 02:22:51 |drop hard. And you keep doing this every single day, week after week for months.
1879 |1668 |02:22:52 ~-~-> 02:22:56 |And then what will happen is is you get really comfortable with doing it, and
1880 |1669 |02:22:56 ~-~-> 02:23:00 |then that's your invitation to start doing demo trades. But before you get
1881 |1670 |02:23:00 ~-~-> 02:23:04 |consistently able to be able to see what price is doing and anticipate the
1882 |1671 |02:23:04 ~-~-> 02:23:06 |formation of the fair value gap, waiting for it to be there, and then
1883 |1672 |02:23:06 ~-~-> 02:23:10 |anticipating it trading up into it or down into it when it's going to go
1884 |1673 |02:23:10 ~-~-> 02:23:13 |higher, until you get to that point where you can anticipate that forming.
1885 |1674 |02:23:13 ~-~-> 02:23:18 |You shouldn't even be thinking about a demo. You shouldn't even have a demo
1886 |1675 |02:23:18 ~-~-> 02:23:23 |available to you. It should be just watching price not worrying about
1887 |1676 |02:23:23 ~-~-> 02:23:29 |nothing. And when it's boring and it keeps repeating, you have to get to that
1888 |1677 |02:23:29 ~-~-> 02:23:33 |point when it's boring to you watching price action, and you can see what it's
1889 |1678 |02:23:33 ~-~-> 02:23:38 |doing, how it's behaving. It's measurable. It should not go past this
1890 |1679 |02:23:38 ~-~-> 02:23:42 |point. Therefore, what you're saying is without saying so with a demo account is
1891 |1680 |02:23:42 ~-~-> 02:23:47 |a stop loss. Just outside that boundary point should not be traded to so the
1892 |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
1893 |1682 |02:23:50 ~-~-> 02:23:55 |account, and you're teaching yourself and desensitizing yourself to the
1894 |1683 |02:23:55 ~-~-> 02:23:58 |fluctuations when you're looking at the chart without this information, or not
1895 |1684 |02:23:58 ~-~-> 02:24:02 |knowing how to trade with another methodology. I mean, I have to say this,
1896 |1685 |02:24:02 ~-~-> 02:24:06 |because I know when I say certain things like this, it sounds very condescending
1897 |1686 |02:24:06 ~-~-> 02:24:12 |to like nobody else makes money but ICT traders, no, but if you're consistently
1898 |1687 |02:24:12 ~-~-> 02:24:17 |making money, you're following something that you've spent time with. You know it
1899 |1688 |02:24:17 ~-~-> 02:24:20 |intimately. These are the things that repeat. This is what it usually does,
1900 |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
1901 |1690 |02:24:26 ~-~-> 02:24:31 |this point of knowing how to anticipate the setups that it's going to create
1902 |1691 |02:24:31 ~-~-> 02:24:36 |relative equal highs, because the new week opening gap and the new day opening
1903 |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
1904 |1693 |02:24:40 ~-~-> 02:24:45 |for a relative equal highs to form right away. Contrast that with you not knowing
1905 |1694 |02:24:45 ~-~-> 02:24:51 |what price is doing or anything. Nobody thinks like that, except for our
1906 |1695 |02:24:51 ~-~-> 02:24:55 |community, and it's something that we anticipate, and we're sitting in here
1907 |1696 |02:24:55 ~-~-> 02:25:01 |waiting for it to form. Guess what? That gives you patience? It. It overcomes
1908 |1697 |02:25:01 ~-~-> 02:25:05 |fear. It manages anxiety. Because you know what you're looking for, and you
1909 |1698 |02:25:05 ~-~-> 02:25:09 |know why you're waiting for it. Because if it can create relative equal highs,
1910 |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
1911 |1700 |02:25:13 ~-~-> 02:25:19 |it there. And then from that point, you want to see every premium array that
1912 |1701 |02:25:19 ~-~-> 02:25:23 |means, anything that ICT could use to get into a short idea, which one makes
1913 |1702 |02:25:23 ~-~-> 02:25:27 |the most sense to you. And that's your initial model. That's the one you
1914 |1703 |02:25:27 ~-~-> 02:25:31 |practice with. And it may morph into something different. It may be, you
1915 |1704 |02:25:31 ~-~-> 02:25:36 |know, they may it may not be fair value guys. For Caleb, he may end up becoming,
1916 |1705 |02:25:36 ~-~-> 02:25:40 |you know, an order box trigger. It's something else, you know. But I'm
1917 |1706 |02:25:40 ~-~-> 02:25:44 |forcing him to that way. He has a foundation because I don't know how to
1918 |1707 |02:25:44 ~-~-> 02:25:50 |address questions with him or direct him, and I don't have the ability, and I
1919 |1708 |02:25:50 ~-~-> 02:25:53 |don't have the time to do this for everybody. And I know some of you are
1920 |1709 |02:25:53 ~-~-> 02:25:58 |sending me stuff, and you're emailing me these long, really long emails, and I'm
1921 |1710 |02:25:58 ~-~-> 02:26:01 |sure there are some really nice things being said in there, but you're asking
1922 |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
1923 |1712 |02:26:06 ~-~-> 02:26:10 |please don't be offended by it, but I have no time or interest in doing that.
1924 |1713 |02:26:10 ~-~-> 02:26:15 |You're getting the best of the best because I'm sharing it with my son, and
1925 |1714 |02:26:15 ~-~-> 02:26:19 |you're getting an experience that I had no interest in having with anybody else.
1926 |1715 |02:26:19 ~-~-> 02:26:24 |So just be content with that. You clearly see it works. I mean, it works.
1927 |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
1928 |1717 |02:26:29 ~-~-> 02:26:32 |supposedly, the person you paid or bought a course from, or a software
1929 |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
1930 |1719 |02:26:35 ~-~-> 02:26:40 |work. But on the other side of the coin is if it works, and it works really,
1931 |1720 |02:26:40 ~-~-> 02:26:45 |really well, and its logic is so sound that it's scary. Like this is
1932 |1721 |02:26:45 ~-~-> 02:26:50 |information that the general populace, they don't think like this. The average
1933 |1722 |02:26:50 ~-~-> 02:26:55 |traders don't think like this, and that's why it's hard for them to listen
1934 |1723 |02:26:55 ~-~-> 02:26:59 |to someone like me. And yeah, I make it entertaining for myself to be the prick,
1935 |1724 |02:27:00 ~-~-> 02:27:03 |the condescending prick when, when it's entertainment value, only because I knew
1936 |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
1937 |1726 |02:27:08 ~-~-> 02:27:11 |talk. I don't need to advertise, because if I say all the right things and push
1938 |1727 |02:27:11 ~-~-> 02:27:15 |buttons, they'll talk, and then it calls people's attention to my channel, and
1939 |1728 |02:27:15 ~-~-> 02:27:19 |then they'll come here, and then I'm giving them that litmus test, see if
1940 |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
1941 |1730 |02:27:23 ~-~-> 02:27:26 |in your charts, then it ain't real, right? And that means that you don't
1942 |1731 |02:27:26 ~-~-> 02:27:31 |have to ever come back and do anything with me. But I love converting people,
1943 |1732 |02:27:32 ~-~-> 02:27:36 |and I love it when they're coming at me as someone that is adversarial
1944 |1733 |02:27:36 ~-~-> 02:27:40 |initially, and I have lots of students like that. It's much more satisfying
1945 |1734 |02:27:40 ~-~-> 02:27:43 |doing that, if I can convert them. And they came here to either insult me or
1946 |1735 |02:27:43 ~-~-> 02:27:46 |try to say this that. Now, thing is, no, algorithm doesn't work, and all of a
1947 |1736 |02:27:46 ~-~-> 02:27:51 |sudden they're finding that it works. And they're like, dude, like this. I was
1948 |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
1949 |1738 |02:27:54 ~-~-> 02:27:59 |say that now, because I'm making bread. I'm living on it. Now I love that.
1950 |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.
1951 |1740 |02:28:05 ~-~-> 02:28:12 |So it's an art at managing expectations, leading people enough to make them want
1952 |1741 |02:28:12 ~-~-> 02:28:17 |to talk about me, and then that creates traffic. And I never had to advertise,
1953 |1742 |02:28:17 ~-~-> 02:28:23 |because I know how to instill an interest that will cause other people to
1954 |1743 |02:28:23 ~-~-> 02:28:31 |draw other people to this channel. It's simple as that. And if I advertise, it
1955 |1744 |02:28:31 ~-~-> 02:28:34 |would have been worse. It would have been really blown up. I don't need to do
1956 |1745 |02:28:34 ~-~-> 02:28:40 |that, but you'll get to this point where you know exactly what you're doing, when
1957 |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
1958 |1747 |02:28:43 ~-~-> 02:28:49 |have any regret when you do or don't because you're content. Being content as
1959 |1748 |02:28:49 ~-~-> 02:28:54 |a trader is such an elusive thing, and you think making lots of money should
1960 |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
1961 |1750 |02:28:59 ~-~-> 02:29:04 |of money being made doesn't make you content lots of money, generally, is a
1962 |1751 |02:29:04 ~-~-> 02:29:12 |result of you chasing lots of money, being content with making plenty, and
1963 |1752 |02:29:12 ~-~-> 02:29:16 |not needing to try to worry about other people's opinion of how well they hold
1964 |1753 |02:29:16 ~-~-> 02:29:22 |an opinion of you. Caleb, is the wrong direction. There's a lots of people out
1965 |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
1966 |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
1967 |1756 |02:29:33 ~-~-> 02:29:38 |about me. I want to have that kind of impact on you and your development. I
1968 |1757 |02:29:38 ~-~-> 02:29:44 |want you to be humble when you make a lot of money, call no attention to it.
1969 |1758 |02:29:46 ~-~-> 02:29:51 |Call no attention to it, because other people in their learning, they're going
1970 |1759 |02:29:51 ~-~-> 02:29:55 |to be inspired by that, but there's a whole lot of other individuals. They're
1971 |1760 |02:29:55 ~-~-> 02:29:59 |going to see you and they're going to hate you because they're not going to
1972 |1761 |02:29:59 ~-~-> 02:30:04 |learn it as fast. Is you might learn it, or if you take longer, because it could
1973 |1762 |02:30:04 ~-~-> 02:30:08 |happen if you struggle a little bit longer than both of us think it's going
1974 |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
1975 |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,
1976 |1765 |02:30:16 ~-~-> 02:30:20 |because if you, if you take off, and you start doing really well, invariably,
1977 |1766 |02:30:20 ~-~-> 02:30:25 |they're going to say, It's me doing everything, and since you want to do
1978 |1767 |02:30:25 ~-~-> 02:30:30 |this and share every aspect of it, they're going to see that it ain't me
1979 |1768 |02:30:32 ~-~-> 02:30:36 |when you when you share your your feedback, when we're doing our weekend
1980 |1769 |02:30:36 ~-~-> 02:30:39 |reviews, and we're talking about what your observations were and what you
1981 |1770 |02:30:39 ~-~-> 02:30:43 |thought was going to happen. And it didn't happen that way. I expect you to
1982 |1771 |02:30:43 ~-~-> 02:30:50 |be really candid about it and say, Look, you know, this is what I thought. It
1983 |1772 |02:30:50 ~-~-> 02:30:56 |was, maybe discouraging. I want you initially to say where you thought it
1984 |1773 |02:30:56 ~-~-> 02:30:59 |was going to happen, and it happened, and I want you to share how it felt. And
1985 |1774 |02:30:59 ~-~-> 02:31:03 |then we're going to move away from that happy, good, feel good, you know, warm,
1986 |1775 |02:31:03 ~-~-> 02:31:09 |fuzzy stuff, because that needs to be outside of your trading the deep anxiety
1987 |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
1988 |1777 |02:31:16 ~-~-> 02:31:20 |and you can't do anything wrong. You gotta keep that out of it, too. But in
1989 |1778 |02:31:20 ~-~-> 02:31:23 |the beginning, you want that more than anything, because that means it's
1990 |1779 |02:31:23 ~-~-> 02:31:26 |successful, that means you're doing everything right. And I'm telling you,
1991 |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,
1992 |1781 |02:31:30 ~-~-> 02:31:36 |because it will constantly be the goal. And that's not the goal. The goal is to
1993 |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
1994 |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
1995 |1784 |02:31:48 ~-~-> 02:31:51 |choosing to sit down in front of Christ because this is what I anticipate it
1996 |1785 |02:31:51 ~-~-> 02:31:55 |doing, because this is what my back testing, my journaling, my dad's taught
1997 |1786 |02:31:55 ~-~-> 02:32:01 |me, and it works like Swiss time piece precision, and I have to get myself
1998 |1787 |02:32:01 ~-~-> 02:32:07 |acclimated to that precision and develop a synchronicity to that precision,
1999 |1788 |02:32:08 ~-~-> 02:32:13 |because you are not going to beat the market ever. Son, that's never going to
2000 |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
2001 |1790 |02:32:19 ~-~-> 02:32:22 |beating the market maker. You're not beating dad, okay,
2002 |1791 |02:32:23 ~-~-> 02:32:28 |you're just getting in sync with the market, and that's all you need. You
2003 |1792 |02:32:28 ~-~-> 02:32:34 |just need pieces of the week, from Sundays open to Friday's closed, where
2004 |1793 |02:32:34 ~-~-> 02:32:40 |everything is just right for you. Then sit down, follow the rules. Dad's
2005 |1794 |02:32:40 ~-~-> 02:32:45 |teaching, engage with it, and when it gives you what you're looking for, be
2006 |1795 |02:32:45 ~-~-> 02:32:50 |content, turn the charts off. That's exactly what I'm looking for. If you do
2007 |1796 |02:32:50 ~-~-> 02:32:55 |that, son, I will be the happiest, most, proudest dad I've ever been, because I
2008 |1797 |02:32:55 ~-~-> 02:32:59 |know that that will yield the interest with your brothers. And then they're
2009 |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
2010 |1799 |02:33:01 ~-~-> 02:33:11 |themselves off of you, and that will send me over the moon. I'm not expecting
2011 |1800 |02:33:11 ~-~-> 02:33:15 |you to be an Olympic feet trader. I'm not expecting you to do any crazy town
2012 |1801 |02:33:15 ~-~-> 02:33:22 |stuff. I just want you to do just enough, and you'll see as soon as you
2013 |1802 |02:33:22 ~-~-> 02:33:26 |start making what you make at your job and how fast it can be done over the
2014 |1803 |02:33:26 ~-~-> 02:33:33 |course of a week with very little effort, then your mind will shift to
2015 |1804 |02:33:33 ~-~-> 02:33:40 |thinking, wow, if I'm only doing this much and I'm not emotionally driven to
2016 |1805 |02:33:40 ~-~-> 02:33:45 |do more. What happens when I allow money management to do all the heavy lifting,
2017 |1806 |02:33:46 ~-~-> 02:33:51 |and then your account starts to parlay and parlay and parlay, and you're not
2018 |1807 |02:33:51 ~-~-> 02:33:56 |doing any more effort than you did when you developed your own model. You're not
2019 |1808 |02:33:56 ~-~-> 02:34:00 |doing any more heavy lifting. You're just doing the same minuscule amount.
2020 |1809 |02:34:01 ~-~-> 02:34:06 |But the management of your money and the equity that it supports will do all the
2021 |1810 |02:34:06 ~-~-> 02:34:10 |heavy lifting. And you're never doing any more in terms of greater than 1%
2022 |1811 |02:34:10 ~-~-> 02:34:15 |risk. You're never going to assume a trade that has more than 1% risk. You're
2023 |1812 |02:34:15 ~-~-> 02:34:21 |not going to try to trade every session. You're not trying to trade more than one
2024 |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
2025 |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
2026 |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
2027 |1816 |02:34:34 ~-~-> 02:34:41 |be so much better if I would have done that instead of trying to meet Mr.
2028 |1817 |02:34:41 ~-~-> 02:34:51 |Wonderful, Mr. Everything, I put myself through stuff and cause all kinds of
2029 |1818 |02:34:51 ~-~-> 02:34:57 |mental scar tissue, chasing perfection, chasing more money, trying to outdo
2030 |1819 |02:34:57 ~-~-> 02:35:06 |everybody else when I had enough. I had enough to do exceptionally well and
2031 |1820 |02:35:06 ~-~-> 02:35:10 |never need to do anything else. But I kept tinkering and tinkering and
2032 |1821 |02:35:10 ~-~-> 02:35:14 |tinkering, and then now I took away from the real reasons why I was wanting to
2033 |1822 |02:35:14 ~-~-> 02:35:17 |trade was I wanted to live comfortably. I didn't want anybody tell me when I had
2034 |1823 |02:35:17 ~-~-> 02:35:21 |to go to work, when I can take a vacation and whatnot. And you're feeling
2035 |1824 |02:35:21 ~-~-> 02:35:26 |that right now, well, Mom and Dad, just say, well, we're out here. We're getting
2036 |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,
2037 |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
2038 |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
2039 |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
2040 |1829 |02:35:48 ~-~-> 02:35:53 |be fast. It isn't going to be easy in the beginning. But once you understand
2041 |1830 |02:35:53 ~-~-> 02:35:57 |these rules, once you understand what it is that you're trying to replicate every
2042 |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
2043 |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
2044 |1833 |02:36:05 ~-~-> 02:36:09 |will be adverse. It won't be a good thing. But it doesn't mean it changes
2045 |1834 |02:36:09 ~-~-> 02:36:13 |anything. It doesn't mean no longer works or you're not going to be
2046 |1835 |02:36:13 ~-~-> 02:36:18 |successful. It just means Okay, stop. If you have one bad result and you're
2047 |1836 |02:36:18 ~-~-> 02:36:24 |limited to only one exposure to the outcome, good or bad for that day, and
2048 |1837 |02:36:24 ~-~-> 02:36:30 |you stop. You can't be mad. You never are going to have an anxiety attack.
2049 |1838 |02:36:30 ~-~-> 02:36:33 |You're never going to be panicked about getting it back right away, because this
2050 |1839 |02:36:33 ~-~-> 02:36:37 |is the normal procedure. If I take a losing trade, I have to stop. That
2051 |1840 |02:36:37 ~-~-> 02:36:41 |prevents you from going into tilt, that prevents you from getting greedy. It
2052 |1841 |02:36:41 ~-~-> 02:36:44 |prevents you from being fearful of not knowing what to do, because you feel
2053 |1842 |02:36:44 ~-~-> 02:36:48 |like you gotta get it back, and you just try it again. You lost again. Now you
2054 |1843 |02:36:48 ~-~-> 02:36:52 |made a little loss now bigger. You'll never want to over trade. You'll never
2055 |1844 |02:36:52 ~-~-> 02:37:00 |need to over leverage. It becomes your job. You when you go to work, you're not
2056 |1845 |02:37:00 ~-~-> 02:37:03 |trying to do more than what your supervisor is asking you to do. Nobody
2057 |1846 |02:37:03 ~-~-> 02:37:08 |does. Nobody works like that. And your trading needs to be the same way. You
2058 |1847 |02:37:09 ~-~-> 02:37:13 |need to simply just look at and say, Well, this is, this is what I expect the
2059 |1848 |02:37:13 ~-~-> 02:37:17 |market's going to do. And I see this potentially being there as a setup, and
2060 |1849 |02:37:17 ~-~-> 02:37:20 |if I take it and I lose, okay, no problem. I'm going to turn the computer
2061 |1850 |02:37:20 ~-~-> 02:37:25 |off. I'm not going to give myself any toxic fuel to just worry myself into
2062 |1851 |02:37:26 ~-~-> 02:37:30 |anxiety or grief about it, and I'll try it again tomorrow. I'll log it tonight,
2063 |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
2064 |1853 |02:37:35 ~-~-> 02:37:42 |painless. That's a systematic approach of controlling fear and greed. But I
2065 |1854 |02:37:42 ~-~-> 02:37:46 |have a lot of students that hear me say that, and they know that that would
2066 |1855 |02:37:46 ~-~-> 02:37:50 |work, and that would have worked for them if they could stick to it. The
2067 |1856 |02:37:50 ~-~-> 02:37:55 |problem is, social media invites it. ICT live streaming now invites more of an
2068 |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
2069 |1858 |02:38:01 ~-~-> 02:38:04 |charts or trade anymore, especially if you have a losing trade, because you
2070 |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
2071 |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
2072 |1861 |02:38:13 ~-~-> 02:38:18 |see how that one or two or maybe five losing trades over the course of a month
2073 |1862 |02:38:18 ~-~-> 02:38:22 |has absolutely no real effect on what you're doing and direction you're going,
2074 |1863 |02:38:24 ~-~-> 02:38:29 |but you can't appreciate that just because I said it like anything else
2075 |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
2076 |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
2077 |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
2078 |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
2079 |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
2080 |1869 |02:38:56 ~-~-> 02:39:00 |default, I would be very, very proud if you are able to do it this way, because
2081 |1870 |02:39:00 ~-~-> 02:39:06 |that means you're going to be better than me. And I really want that, son. I
2082 |1871 |02:39:06 ~-~-> 02:39:11 |want you to be better than me in every aspect. And if you listen to me, you
2083 |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
2084 |1873 |02:39:18 ~-~-> 02:39:22 |close it, and I guess we'll be back at it again tomorrow at 915, Lord willing
2085 |1874 |02:39:23 ~-~-> 02:39:25 |and until I talk to you, then be safe. You.