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Last modified by Drunk Monkey on 2024-09-11 12:21
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2 |1 |00:03:43 ~-~-> 00:03:55 |ICT: Good grief, this OBS see if I can hear myself, I'll check one. There's the
3 |2 |00:03:55 ~-~-> 00:04:02 |old man. Good morning, folks. How are you? So we're back at it again here. So
4 |3 |00:04:02 ~-~-> 00:04:08 |let's see, see what guy here. There's nothing really to speak of, because we
5 |4 |00:04:08 ~-~-> 00:04:17 |have basically an empty Monday and Tuesday economic calendar. Later, we
6 |5 |00:04:17 ~-~-> 00:04:26 |have ppi and CPI numbers, so they're face rippers a bit of a premium, premium
7 |6 |00:04:27 ~-~-> 00:04:35 |gap opening here. So that's where we're at here with that. Just going to use the
8 |7 |00:04:35 ~-~-> 00:04:45 |FIB here and make it a little easier and the open up here. These back on,
9 |8 |00:04:50 ~-~-> 00:04:55 |alright, so mid gap is way down here. These two levels here I did a little bit
10 |9 |00:04:55 ~-~-> 00:05:09 |of needling on. Social media last night. So we have the weekly inversion fair
11 |10 |00:05:09 ~-~-> 00:05:14 |value gap in here. I'm allowing it to try to reach for that, see if it can get
12 |11 |00:05:14 ~-~-> 00:05:22 |up in there and tap into that, and see if they'll let it run a little bit lower
13 |12 |00:05:22 ~-~-> 00:05:23 |after that, into the gap I'm
14 |13 |00:05:50 ~-~-> 00:05:59 |I mean time frame. Notice that the bottom of that weekly inversion for your
15 |14 |00:05:59 ~-~-> 00:06:10 |Vega here also has that little tiny separation between that candles low,
16 |15 |00:06:11 ~-~-> 00:06:17 |this candle is high, so that is a Sibi, so you want to Have that annotated on
17 |16 |00:06:17 ~-~-> 00:06:31 |your chart. There. We're just hitting it now. I'd very much prefer it hitting the
18 |17 |00:06:31 ~-~-> 00:06:36 |weekly version of your vague gap before selling off. Otherwise I'd have to let
19 |18 |00:06:36 ~-~-> 00:06:42 |it have another chance to run there, not chasing anything.
20 |19 |00:06:58 ~-~-> 00:07:08 |Do you have fun this weekend? I did alright. So here's a one minute chart.
21 |20 |00:07:08 ~-~-> 00:07:16 |We have not had any first presentation fair value gap yet. There is one
22 |21 |00:07:16 ~-~-> 00:07:25 |obviously on that 15 second chart that's, uh, right here. She'll annotate
23 |22 |00:07:25 ~-~-> 00:07:28 |that and keep it off my chart now, because these are a little too much
24 |23 |00:07:28 ~-~-> 00:07:38 |stuff on the chart for my clicking. This is all stuff from me needling Twitter
25 |24 |00:07:38 ~-~-> 00:07:48 |last night. I hopefully I've inspired a bunch of you live streamers out here, or
26 |25 |00:07:48 ~-~-> 00:07:54 |those that don't live stream to come out here and play in the sandbox with us.
27 |26 |00:07:54 ~-~-> 00:07:54 |You
28 |27 |00:08:10 ~-~-> 00:08:20 |okay, small, right in here, small, little favor again. I
29 |28 |00:08:33 ~-~-> 00:08:38 |got a chance to sleep in today, actually trying to get some rest for tonight's
30 |29 |00:08:38 ~-~-> 00:08:45 |London livestream. So I promised the Forex gang that we would look at some
31 |30 |00:08:45 ~-~-> 00:08:51 |London stuff. I'll look at futures too during the London session. It's not just
32 |31 |00:08:51 ~-~-> 00:08:55 |Forex, but I promised I would ring in some of that insight into this
33 |32 |00:08:55 ~-~-> 00:09:01 |mentorship. We're only going to go till 1030 this morning. I have to take care
34 |33 |00:09:01 ~-~-> 00:09:09 |of something at the bank, some fraudulent activity. Check your bank
35 |34 |00:09:09 ~-~-> 00:09:14 |statements, folks. If you see somebody going in and giving you like 3036, cents
36 |35 |00:09:14 ~-~-> 00:09:19 |or 17 cents, and then taking it back out, that's them testing to see if money
37 |36 |00:09:19 ~-~-> 00:09:24 |can come in and now, because somebody just took $7,000 a month, but they don't
38 |37 |00:09:25 ~-~-> 00:09:27 |have an ownership of that's okay, all Right.
39 |38 |00:09:41 ~-~-> 00:09:47 |So I want to see it run up into that weekly inversion, Fairbank gap in that
40 |39 |00:09:47 ~-~-> 00:09:52 |orange shade area that would also be another run above these highs in here.
41 |40 |00:09:52 ~-~-> 00:09:58 |It's a little too blocky in here, too consolidated, even though it is a 15
42 |41 |00:09:58 ~-~-> 00:10:02 |second chart. I. Want to see some kind of disruption to the upside you
43 |42 |00:10:27 ~-~-> 00:10:35 |that's actually now in the right place it should be there. So a little
44 |43 |00:10:35 ~-~-> 00:10:41 |lackluster. So far this morning. Nothing terribly exciting for the opening range.
45 |44 |00:10:41 ~-~-> 00:10:46 |Opening range is between 930 and 10 o'clock Eastern time, and the opening
46 |45 |00:10:46 ~-~-> 00:10:53 |range gap is previous day settlement. That's the close here to the open the
47 |46 |00:10:53 ~-~-> 00:10:55 |very first print at 930
48 |47 |00:11:02 ~-~-> 00:11:24 |and so when I have your economic calendar with the PPI and CPI number,
49 |48 |00:11:24 ~-~-> 00:11:31 |and all you have to do is go to Forex factory.com, or econo day calendar, or
50 |49 |00:11:31 ~-~-> 00:11:36 |any other decent calendar, they'll they'll show that those reports are
51 |50 |00:11:36 ~-~-> 00:11:44 |This, like this week, Wednesday and Thursday. And then there's an absence of
52 |51 |00:11:44 ~-~-> 00:11:48 |any real news drivers on Monday and Tuesday. You want to try to find your
53 |52 |00:11:48 ~-~-> 00:11:54 |trades. If you're going to try to trade and avoid all of the huge volatility
54 |53 |00:11:54 ~-~-> 00:11:59 |that is introduced by those reports, you simply just trade on the Monday and
55 |54 |00:11:59 ~-~-> 00:12:05 |Tuesday, not this week not to say you can't trade post ppi and CPI number,
56 |55 |00:12:05 ~-~-> 00:12:10 |because I certainly will be all right, we just touch the bottom of that
57 |56 |00:12:10 ~-~-> 00:12:20 |inversion of fair value gap. Again, that's this up here. Okay, I'm a nice
58 |57 |00:12:41 ~-~-> 00:12:44 |set of reactions so far, that's probably random.
59 |58 |00:12:58 ~-~-> 00:13:04 |I'm just going to show the mid gap and have a little bit more real estate in
60 |59 |00:13:04 ~-~-> 00:13:06 |the size of these candles shown
61 |60 |00:13:13 ~-~-> 00:13:17 |again, mid gap is here for the opening range gap. I'm
62 |61 |00:13:32 ~-~-> 00:13:36 |watching the breaker here on the one minute chart, the short term, high,
63 |62 |00:13:37 ~-~-> 00:13:42 |higher, high. This down close candle. I'm watching how we behave and print
64 |63 |00:13:42 ~-~-> 00:13:42 |around that. I'm
65 |64 |00:13:58 ~-~-> 00:14:02 |gonna apologize in advance, because we're answering the time of year where I
66 |65 |00:14:02 ~-~-> 00:14:08 |have fall allergies, and it's unfortunate I can't do anything about
67 |66 |00:14:08 ~-~-> 00:14:12 |because I'm not gonna take medicines, but the clearing of my throat,
68 |67 |00:14:12 ~-~-> 00:14:17 |unfortunately, might be a little bit distracting or something. You'll get a
69 |68 |00:14:17 ~-~-> 00:14:22 |minor so I know if I was listening to someone else sound like that, just don't
70 |69 |00:14:22 ~-~-> 00:14:25 |need the comments, because I'll just broom you. I don't ever see your comment
71 |70 |00:14:25 ~-~-> 00:14:34 |ever again. You can just say it one time. You can say anything you want one
72 |71 |00:14:34 ~-~-> 00:14:39 |time. See how flat price is right now. Yes, it went up to a level we were
73 |72 |00:14:39 ~-~-> 00:14:46 |looking for an anticipating, but it's just like not trying to do much in the
74 |73 |00:14:46 ~-~-> 00:14:59 |15th second inside the city here air shorter block, not enough energy to the
75 |74 |00:14:59 ~-~-> 00:15:06 |downside to. Yeah, they get me interested yet, meaning like that. What
76 |75 |00:15:06 ~-~-> 00:15:11 |do you mean by that? The short term low here, the wicks came down, and we had
77 |76 |00:15:11 ~-~-> 00:15:17 |two of them. So it's not something that has me all that terribly excited.
78 |77 |00:15:17 ~-~-> 00:15:21 |Meaning we could see one more punch into this high a little bit higher than that,
79 |78 |00:15:21 ~-~-> 00:15:29 |then we'll have to see what the what the delivery is after that. Just relax.
80 |79 |00:15:29 ~-~-> 00:15:37 |There's plenty of setups this week coming. Plenty of them new. Need to rush
81 |80 |00:15:37 ~-~-> 00:15:41 |out the gate to get the first one that comes in the first 10 to 20 minutes, and
82 |81 |00:15:41 ~-~-> 00:15:46 |I don't know, not on a Monday, not with a week like we're getting ready to see,
83 |82 |00:15:46 ~-~-> 00:15:53 |I'll see all kinds of movement. If you come out here and you you waste your
84 |83 |00:15:53 ~-~-> 00:16:03 |ammo and your mental fortitude on less than optimal conditions. It just makes
85 |84 |00:16:03 ~-~-> 00:16:07 |it harder for you to be in when the markets are really given out for free.
86 |85 |00:16:07 ~-~-> 00:16:12 |Well, maybe I shouldn't say for free, but a lot of lot more easier price
87 |86 |00:16:12 ~-~-> 00:16:19 |deliveries, lot more fluctuations and prices can work and navigate in again.
88 |87 |00:16:19 ~-~-> 00:16:21 |This chart over here is a 15 second chart
89 |88 |00:16:30 ~-~-> 00:16:42 |and one minute chart on the Right got a lot of comments from the annotation
90 |89 |00:16:42 ~-~-> 00:16:48 |markups I'm teaching my son to do. And of course, I have a few other ones that
91 |90 |00:16:48 ~-~-> 00:16:53 |are saying things like, this is tedious. It's not necessary. Well, I mean, if
92 |91 |00:16:53 ~-~-> 00:16:57 |you're already profitable and you know what you're doing, you didn't, by all
93 |92 |00:16:57 ~-~-> 00:17:00 |means, do what you got to do, but for people to go ahead and reprice action, I
94 |93 |00:17:01 ~-~-> 00:17:05 |would venture to say that ones that say that they don't journal, they probably
95 |94 |00:17:05 ~-~-> 00:17:08 |aren't as precise or consistent as they like to pretend they are on social
96 |95 |00:17:08 ~-~-> 00:17:13 |media. But the way you get better at it and learn how to see the things that
97 |96 |00:17:13 ~-~-> 00:17:21 |teach and execute on you see my executions, those intricate details that
98 |97 |00:17:21 ~-~-> 00:17:28 |I'm showing in my markups for cables channel we have this week and next week,
99 |98 |00:17:28 ~-~-> 00:17:34 |and then he'll have enough for him to have conversation with me in the videos.
100 |99 |00:17:35 ~-~-> 00:17:38 |He has to learn some things first, otherwise it's gonna be a lot of grunts
101 |100 |00:17:38 ~-~-> 00:17:45 |like you see that, son. I hmm, which isn't all that engaging.
102 |101 |00:17:55 ~-~-> 00:18:01 |So you want to, want to, kind of, like, note any kind of anxiety you're feeling
103 |102 |00:18:01 ~-~-> 00:18:07 |right now, or any kind of unwavering excitement about wanting to be in
104 |103 |00:18:07 ~-~-> 00:18:13 |something right now that's usually are not aware of what you're looking for,
105 |104 |00:18:13 ~-~-> 00:18:20 |and you just trying to like a dog, like my wife, she takes the food bowls out As
106 |105 |00:18:20 ~-~-> 00:18:24 |soon as they hear the metal clanking together, they immediately drop whatever
107 |106 |00:18:24 ~-~-> 00:18:27 |they're doing, and they're like, Okay, I gotta, I gotta get ready, run in here
108 |107 |00:18:27 ~-~-> 00:18:33 |and get something. And that's usually what FOMO feels like for a trader that
109 |108 |00:18:34 ~-~-> 00:18:38 |doesn't have a model, doesn't know what they're looking for, and just because
110 |109 |00:18:38 ~-~-> 00:18:42 |these candlesticks are, you know, flicking up and down. There's no setup
111 |110 |00:18:42 ~-~-> 00:18:52 |here yet, so you just have to sit still. Let it come to you. One of the best
112 |111 |00:18:52 ~-~-> 00:18:57 |exercises you can do for yourself is just physically sit still the first 30
113 |112 |00:18:57 ~-~-> 00:19:03 |minutes, even if there is an ideal setup that you may identify or recognize, sit
114 |113 |00:19:03 ~-~-> 00:19:09 |still, don't do anything, engage price after 10 o'clock and do that for a few
115 |114 |00:19:09 ~-~-> 00:19:16 |months. And just really take inventory on how you feel. Are you feeling
116 |115 |00:19:16 ~-~-> 00:19:22 |impulsive? Are you feeling reckless? You feel like you want to gamble, those are
117 |116 |00:19:22 ~-~-> 00:19:26 |wonderful observations to discover about yourself early on, before you start
118 |117 |00:19:26 ~-~-> 00:19:30 |trading with real money, because these, those are the various characteristics
119 |118 |00:19:30 ~-~-> 00:19:38 |that will undo you and prevent you find for finding success, but not enough's
120 |119 |00:19:38 ~-~-> 00:19:43 |been taught about it. I mean, Mark Douglas book and other people have
121 |120 |00:19:43 ~-~-> 00:19:52 |touched very, very lightly on trade psychology and what, what are catalysts
122 |121 |00:19:52 ~-~-> 00:19:55 |for people to go on tilt? How do you prevent it? What skill sets do you have
123 |122 |00:19:55 ~-~-> 00:20:03 |to develop and muster for. Before you end up in that situation where you have
124 |123 |00:20:03 ~-~-> 00:20:14 |regret, and it's by journaling and tape reading and anytime you feel impulsive,
125 |124 |00:20:15 ~-~-> 00:20:18 |anytime you feel impulsive or anxious that you're afraid you're going to miss
126 |125 |00:20:18 ~-~-> 00:20:23 |something, take a screenshot of the chart. Take a screenshot of it, and then
127 |126 |00:20:23 ~-~-> 00:20:29 |annotate that with, you know, simple words like anxious, feeling reckless,
128 |127 |00:20:29 ~-~-> 00:20:33 |feeling impulsive. And then at the end of the session, what would that be like
129 |128 |00:20:33 ~-~-> 00:20:38 |for index trading to be noon, near global time, and then look and see what
130 |129 |00:20:38 ~-~-> 00:20:43 |price did actually after that moment. And you'll see many times what you were
131 |130 |00:20:43 ~-~-> 00:20:48 |fearful of, that you were going to miss wasn't even in the chart at all, and it
132 |131 |00:20:48 ~-~-> 00:20:54 |desensitizes your whole like this pursuit, I got to catch something. I
133 |132 |00:20:54 ~-~-> 00:20:58 |didn't catch something. It goes away after you've conditioned yourself to
134 |133 |00:20:58 ~-~-> 00:21:06 |say, look, I've been here before. It's just me wanting to do something, eat on
135 |134 |00:21:06 ~-~-> 00:21:10 |a 15 second chart, which usually is very, very fluid from can find a lot of
136 |135 |00:21:10 ~-~-> 00:21:17 |setups on it's still just looks like a picket fence. The neighbor that doesn't
137 |136 |00:21:17 ~-~-> 00:21:24 |take care of his yard. It's all tattered looking in here, I'd like to see it
138 |137 |00:21:24 ~-~-> 00:21:28 |displaced lower here. Admittedly, I'd like to see that, because we have now
139 |138 |00:21:28 ~-~-> 00:21:34 |had a body come down below the breaker, which is this down closed candle here.
140 |139 |00:21:35 ~-~-> 00:21:39 |I'd prefer to see it start to make a move lower and work towards these lows
141 |140 |00:21:39 ~-~-> 00:21:46 |here, because if we can get between here, let me outline it, because we can
142 |141 |00:21:46 ~-~-> 00:21:55 |go between this low and the upper quadrant of the opening range, gap,
143 |142 |00:21:55 ~-~-> 00:21:56 |which is here.
144 |143 |00:22:02 ~-~-> 00:22:08 |And I'd like to see some kind of move lower here, and then either on the one
145 |144 |00:22:08 ~-~-> 00:22:14 |minute chart or the 15 second chart, create a fair value gap to watch price
146 |145 |00:22:14 ~-~-> 00:22:19 |trade up into, and then try to make a run into mid gap. That's all I would
147 |146 |00:22:19 ~-~-> 00:22:24 |look for today, and then if it wants to close more of the gap or go higher, you
148 |147 |00:22:24 ~-~-> 00:22:29 |know, so be it. But when I'm looking at price and I want to kind of frame up a
149 |148 |00:22:29 ~-~-> 00:22:33 |setup that I'm willing to sit and wait for, that's what I would be looking for
150 |149 |00:22:33 ~-~-> 00:22:37 |today, I would not be interested in chasing it going higher. We have too
151 |150 |00:22:37 ~-~-> 00:22:43 |much of a gap opening higher. They're building a huge premium, and we're
152 |151 |00:22:43 ~-~-> 00:22:51 |taking it back to a weekly objective, which is that orange shaded box up here.
153 |152 |00:22:52 ~-~-> 00:22:57 |All of that range is a weekly inversion for value gap. And it's, it's, it's big.
154 |153 |00:22:58 ~-~-> 00:23:06 |So I don't want to be I uh, up in here you're trying to go long after we've
155 |154 |00:23:06 ~-~-> 00:23:13 |opened up with such a large gap opening, I'm much more comfortable waiting for it
156 |155 |00:23:13 ~-~-> 00:23:19 |to price in whatever premium it wants to put in price. I'm not willing,
157 |156 |00:23:19 ~-~-> 00:23:25 |basically, to pay exorbitant price for NASDAQ, especially on a day that there's
158 |157 |00:23:25 ~-~-> 00:23:33 |no news until we get to Wednesday and Thursday. So that's a little bit better
159 |158 |00:23:33 ~-~-> 00:23:38 |delivery. See how the bodies are like butted up and at the bottom of it, and
160 |159 |00:23:38 ~-~-> 00:23:44 |not just the wick. That's what I was saying about the the break over here. I
161 |160 |00:23:44 ~-~-> 00:23:52 |didn't like that there, because while it did go below it, when we have such a
162 |161 |00:23:52 ~-~-> 00:23:57 |premium opening, meaning that this is where Friday's settlement price is here,
163 |162 |00:23:58 ~-~-> 00:24:07 |and the first print at 930 the opening bell. That's your first traded price.
164 |163 |00:24:07 ~-~-> 00:24:14 |The difference between that is so large it's already built in an expensive
165 |164 |00:24:14 ~-~-> 00:24:22 |price, so I'm not willing to buy that, and I'm comfortable letting it go. It's
166 |165 |00:24:22 ~-~-> 00:24:27 |like anything else. If it's not your price, you're not going to pay for it.
167 |166 |00:24:27 ~-~-> 00:24:32 |If you know, you can get it cheaper, if you just wait a little while. No, that's
168 |167 |00:24:32 ~-~-> 00:24:36 |what trading should be like. Why pay more for something you can get cheaper
169 |168 |00:24:36 ~-~-> 00:24:40 |later on with less risk, with better visibility. Right now you're you're
170 |169 |00:24:40 ~-~-> 00:24:48 |trading inside of just one event of where we opened up. So now think about
171 |170 |00:24:48 ~-~-> 00:24:51 |what I was talking about earlier, about the breaker, because we had these two
172 |171 |00:24:51 ~-~-> 00:24:57 |wicks down here. It didn't show any kind of displacement lower. It just reached
173 |172 |00:24:57 ~-~-> 00:25:01 |down just a little bit below it, and we. Because of that I was telling you, we're
174 |173 |00:25:01 ~-~-> 00:25:04 |probably going to see one more drive above this into that weekly inversion
175 |174 |00:25:04 ~-~-> 00:25:08 |fair value gap. Then we had this delivery here, and this is a one minute
176 |175 |00:25:08 ~-~-> 00:25:13 |chart up here, so it was nice to see it deliver that body now, leaving these
177 |176 |00:25:13 ~-~-> 00:25:17 |kind of wicks inside of the inversion fair value gap, if it runs below, that's
178 |177 |00:25:17 ~-~-> 00:25:21 |a little bit more, a lot more meaningful, meaning that this
179 |178 |00:25:21 ~-~-> 00:25:28 |candlestick here treat that same down close candle as I was looking at that
180 |179 |00:25:28 ~-~-> 00:25:33 |initially here, I wanted to see how we behaved when price traded to its low.
181 |180 |00:25:33 ~-~-> 00:25:39 |Now, this is a point of interest for me, if that candle is low because we have
182 |181 |00:25:39 ~-~-> 00:25:47 |what we have the high here. This swing low. And we ran up into that weekly
183 |182 |00:25:47 ~-~-> 00:25:51 |version of everybody got we budded up against the bottom of it with that
184 |183 |00:25:51 ~-~-> 00:25:56 |candlesticks. Body, indecisive candle body, saying, No, I'm not really
185 |184 |00:25:56 ~-~-> 00:26:02 |interested. Open wick into it here, and we're showing initial signs that it may
186 |185 |00:26:02 ~-~-> 00:26:06 |want to drop. There's a gap in here. I'd like to see it get below that and show
187 |186 |00:26:06 ~-~-> 00:26:11 |signatures of inversion on that, and how we drive under under here. And it may
188 |187 |00:26:11 ~-~-> 00:26:15 |not. I'm just saying that that's what I'm observing. I get a lot of questions,
189 |188 |00:26:15 ~-~-> 00:26:19 |what am I looking for? What am I waiting for? How do I frame a setup? What
190 |189 |00:26:19 ~-~-> 00:26:26 |determines the setup? Most of which is how we open, if I'm training the morning
191 |190 |00:26:26 ~-~-> 00:26:31 |session, how we open relationship to the previous day's settlement price, which
192 |191 |00:26:31 ~-~-> 00:26:42 |is 415, Eastern Time, PM, and then the afternoon. I'm not so much, you know,
193 |192 |00:26:42 ~-~-> 00:26:49 |concerned about the same things that the morning session provides me. There's
194 |193 |00:26:49 ~-~-> 00:26:53 |other things, like I'm looking at how we trade a new the afternoon lunch. I'm not
195 |194 |00:26:53 ~-~-> 00:26:59 |so much concerned about the same things. I just turned my headphones on. Sorry
196 |195 |00:26:59 ~-~-> 00:27:09 |about that. You got that feedback on but I look for things to frame price runs
197 |196 |00:27:09 ~-~-> 00:27:16 |that make sense. So since we gapped up here and have a large gap below us from
198 |197 |00:27:16 ~-~-> 00:27:23 |Friday's close at 415 any movement below here sets the stage for a potential
199 |198 |00:27:23 ~-~-> 00:27:32 |trade to half of the gap. So the rules I live by is 70% of the time that half gap
200 |199 |00:27:32 ~-~-> 00:27:37 |price level gets traded to and repriced to in the first 30 minutes of trading.
201 |200 |00:27:37 ~-~-> 00:27:42 |70% of the time is not 100% of the time. So because we have the economic
202 |201 |00:27:42 ~-~-> 00:27:47 |calendar, as we have this week, where Monday and Tuesdays kind of like blank,
203 |202 |00:27:47 ~-~-> 00:27:55 |it doesn't have a whole lot of reason to do anything yet, except for building a
204 |203 |00:27:55 ~-~-> 00:28:01 |big premium for PPI CPI number to run against this. So in my mind, that that's
205 |204 |00:28:01 ~-~-> 00:28:04 |how I'm interpreting this. In case you're probably wondering what that is
206 |205 |00:28:04 ~-~-> 00:28:08 |like. What do I think is going to happen this week? I think all of this is just,
207 |206 |00:28:08 ~-~-> 00:28:15 |you know, them going against last week's big drop and going up into a logical
208 |207 |00:28:15 ~-~-> 00:28:19 |level, which that weekly inversion, fair value gap. That's that orange shaded
209 |208 |00:28:19 ~-~-> 00:28:28 |area. I'm watching this 15 second gap right here. It's also a breaker, high,
210 |209 |00:28:28 ~-~-> 00:28:39 |low, higher, high, inside the inversion for your bank, the the absence of
211 |210 |00:28:39 ~-~-> 00:28:47 |anything on the internet calendar Monday and Tuesday forces me and or forces a
212 |211 |00:28:47 ~-~-> 00:28:56 |price action trader to demand that price be clean versus I can, I can engage with
213 |212 |00:28:56 ~-~-> 00:29:01 |a little bit sloppier price action. If there has been something released at
214 |213 |00:29:01 ~-~-> 00:29:04 |like 830 or if it releases at 10 o'clock, some kind of economic news
215 |214 |00:29:04 ~-~-> 00:29:08 |driver, something, some kind of report or something basically like a smoke
216 |215 |00:29:08 ~-~-> 00:29:12 |screen. It's what I call it, an injection of volatility. It's an
217 |216 |00:29:12 ~-~-> 00:29:18 |invitation for people to come to the watering hole. Okay, so we don't have
218 |217 |00:29:18 ~-~-> 00:29:21 |that today and we don't have that tomorrow. So the best thing you can do
219 |218 |00:29:21 ~-~-> 00:29:25 |as a trader and put this in your journal as well, and you'll probably save
220 |219 |00:29:25 ~-~-> 00:29:28 |yourself a whole lot of heartache and draw them and probably blend accounts.
221 |220 |00:29:28 ~-~-> 00:29:32 |But the the absence of anything on the economic counter, that means that you
222 |221 |00:29:32 ~-~-> 00:29:36 |must absolutely see clean price action. Just because you have a high impact or
223 |222 |00:29:36 ~-~-> 00:29:40 |medium impact news driver does not mean you're going to have clean price action.
224 |223 |00:29:40 ~-~-> 00:29:43 |You can have really wild back and forth price action. And if that's the case,
225 |224 |00:29:43 ~-~-> 00:29:47 |then you don't trade that either. So it's a lot of knowing when not to do
226 |225 |00:29:47 ~-~-> 00:29:52 |something because, just because you walk in the kitchen and Something smells good
227 |226 |00:29:53 ~-~-> 00:29:57 |and you think that it's safe to touch that handle on that pot, you don't
228 |227 |00:29:57 ~-~-> 00:30:02 |really know. And like a child. You, I've had this happen to me and my child. My
229 |228 |00:30:02 ~-~-> 00:30:06 |children have done this too. They reach up and they touch something and they get
230 |229 |00:30:06 ~-~-> 00:30:10 |burned. But they don't ever do that ever again. But you don't get that luxury.
231 |230 |00:30:10 ~-~-> 00:30:14 |Sometimes in trading, sometimes you can blow the account, and you may not be
232 |231 |00:30:14 ~-~-> 00:30:22 |able to trade again until you fix what was required to restore all that. So
233 |232 |00:30:22 ~-~-> 00:30:27 |demanding, uh, clarity and what you're looking for, for the setups, and just
234 |233 |00:30:27 ~-~-> 00:30:33 |letting it go, just let it go, which is what an adult perspective would be. I
235 |234 |00:30:33 ~-~-> 00:30:38 |want to grab that pot and turn it around here so I can and take a look and see
236 |235 |00:30:38 ~-~-> 00:30:43 |what's inside this pot. An adult would say, where's that potholder at? Let me
237 |236 |00:30:43 ~-~-> 00:30:46 |grab that, because I ain't trying to get burned here, and then I can find out
238 |237 |00:30:46 ~-~-> 00:30:51 |what I want to see. What are they doing? They're deferring their interest, being
239 |238 |00:30:51 ~-~-> 00:30:55 |satisfied with protection Well, in trading price action when there's really
240 |239 |00:30:55 ~-~-> 00:31:00 |nothing going on yet that is all that exciting. These are the things I do. I
241 |240 |00:31:00 ~-~-> 00:31:04 |wait and I demand price, give me what I would rather see. And that's
242 |241 |00:31:04 ~-~-> 00:31:08 |unfortunately, a skill set that wasn't there in the beginning, from like I was
243 |242 |00:31:08 ~-~-> 00:31:12 |impulsive, reckless and fearing I was going To miss everything.
244 |243 |00:31:19 ~-~-> 00:31:21 |Don't make sense. Don't do it.
245 |244 |00:31:42 ~-~-> 00:32:06 |You Daniel's hearing the snap of the water bottle, thinking, bro, I mailed
246 |245 |00:32:06 ~-~-> 00:32:10 |you a Yeti and you're still drinking out of the water bottle. I was short on
247 |246 |00:32:10 ~-~-> 00:32:13 |time. Okay, I had to hurry up and get things set up. All
248 |247 |00:32:22 ~-~-> 00:32:27 |right. So now think about what we've had so far this morning, large range, gap
249 |248 |00:32:27 ~-~-> 00:32:34 |opening. That's this price here from previous days. Opening, I'm sorry,
250 |249 |00:32:34 ~-~-> 00:32:39 |previous settlement daily on Friday, we had a short term high form here, a short
251 |250 |00:32:39 ~-~-> 00:32:44 |term high formed here, short term high formed here, and once more, up here.
252 |251 |00:32:44 ~-~-> 00:32:50 |Whenever price is doing that, it's usually indicative of them engineering
253 |252 |00:32:50 ~-~-> 00:32:54 |liquidity, even though the moves aren't as pronounced as I'd prefer them to be.
254 |253 |00:32:55 ~-~-> 00:32:59 |That could be very much what we're seeing here, where by creating these
255 |254 |00:32:59 ~-~-> 00:33:04 |little, tiny short term highs. Everybody wants to fill the gap. I mean, that's
256 |255 |00:33:04 ~-~-> 00:33:07 |that's trading one on one. If you know anything about trading, the opening
257 |256 |00:33:07 ~-~-> 00:33:13 |session of the very few minutes of trading, the gaps, they have a magnetic
258 |257 |00:33:13 ~-~-> 00:33:18 |effect on price action, but not all the time, not all the time. They can stay
259 |258 |00:33:18 ~-~-> 00:33:24 |open for days. It could, it could leave that gap entirely open for days. This
260 |259 |00:33:24 ~-~-> 00:33:29 |because there's a gap doesn't mean it's 100% probability that's going to fill
261 |260 |00:33:30 ~-~-> 00:33:33 |it. But what I like to see is if it's doing things like this, where it creates
262 |261 |00:33:33 ~-~-> 00:33:38 |highs, and they keep taking those highs, but it's not really running aggressively
263 |262 |00:33:38 ~-~-> 00:33:47 |and showing big amounts of price runs, it's just going enough to take out the
264 |263 |00:33:47 ~-~-> 00:33:52 |previous highs, going just not take out previous highs. So to me, when I see
265 |264 |00:33:52 ~-~-> 00:33:57 |that stuff, I think that Okay, someone is taking the other side of that high
266 |265 |00:33:57 ~-~-> 00:34:03 |being taken out. And when I see those types of things forming in price action,
267 |266 |00:34:03 ~-~-> 00:34:09 |I start telling myself, if this is what I think it is, then it should start to
268 |267 |00:34:09 ~-~-> 00:34:14 |show speed after taking the the most recent swing high, which is this one
269 |268 |00:34:14 ~-~-> 00:34:19 |here. We're a little bit deeper inside of that weekly inversion fair value gap.
270 |269 |00:34:19 ~-~-> 00:34:24 |So I'm waiting to see, do I get that strong drop down? Because I don't want
271 |270 |00:34:25 ~-~-> 00:34:28 |to sell into these highs here. Like, I don't, I don't personally want to do
272 |271 |00:34:28 ~-~-> 00:34:30 |that, because they could just keep building this and building this and
273 |272 |00:34:30 ~-~-> 00:34:33 |building this, and I don't think we're going to be here later in the week,
274 |273 |00:34:34 ~-~-> 00:34:43 |like, I think we could be lower. So the absence of any kind of economic data
275 |274 |00:34:43 ~-~-> 00:34:46 |Monday and Tuesday, and then you have that big storm of volatility that's
276 |275 |00:34:46 ~-~-> 00:34:52 |going to come with the PPI and CPI number where, like, you can't safely
277 |276 |00:34:52 ~-~-> 00:34:57 |trade them in advance because they're wild, like they're immediate repricing,
278 |277 |00:34:57 ~-~-> 00:35:02 |and they're aggressive, and they can hurt you. Very, very, very bad. If
279 |278 |00:35:02 ~-~-> 00:35:06 |you're offside on something like that, you're getting crushed. And there's no
280 |279 |00:35:06 ~-~-> 00:35:10 |helping, there's no saving you. It's just you're done for so it's better for
281 |280 |00:35:10 ~-~-> 00:35:16 |that report to come out and then give it a few minutes, 1520 minutes, and then
282 |281 |00:35:16 ~-~-> 00:35:22 |see what's left for liquidity or inefficiency. Here, I think what they're
283 |282 |00:35:22 ~-~-> 00:35:25 |doing is they're just retracing it against what we saw on Friday. I don't
284 |283 |00:35:25 ~-~-> 00:35:31 |think we're going to see the entire range of Friday overtaken a large pool
285 |284 |00:35:31 ~-~-> 00:35:37 |of liquidity. Let's go into oops daily chart. I
286 |285 |00:35:47 ~-~-> 00:35:53 |I see these lows here. It's an election year. I think we're gonna see a lot of
287 |286 |00:35:53 ~-~-> 00:36:00 |volatility around the end of second half of October and then obviously going into
288 |287 |00:36:00 ~-~-> 00:36:05 |the rest of the year. But I don't see us going back over top of Friday's range.
289 |288 |00:36:06 ~-~-> 00:36:12 |There's no reason to do that, but we can dig deeper into this weekly inversion
290 |289 |00:36:12 ~-~-> 00:36:16 |fair value gap, which you see here. This is
291 |290 |00:36:22 ~-~-> 00:36:28 |it's a separation between this candlestick low, this candlestick high.
292 |291 |00:36:28 ~-~-> 00:36:33 |So it's this inside of this. After dropping a lot on Friday, it's it's
293 |292 |00:36:33 ~-~-> 00:36:36 |reasonable to anticipate a retracement on Monday morning, like that. It's
294 |293 |00:36:37 ~-~-> 00:36:40 |reasonable to anticipate there's going to be a large range gap opening, higher
295 |294 |00:36:40 ~-~-> 00:36:45 |or premium gap opening. That's normal. That's a normal expectation for someone
296 |295 |00:36:45 ~-~-> 00:36:50 |that's been studying and and is familiar with price action. But you have to be
297 |296 |00:36:50 ~-~-> 00:36:54 |cautious, because this is a lot of range just to get to the midpoint of that,
298 |297 |00:36:54 ~-~-> 00:37:01 |which is here. So it's trading a 791, it could trade another 100 points higher.
299 |298 |00:37:01 ~-~-> 00:37:05 |And I don't want to try to be aggressive and try to sell short, because I think
300 |299 |00:37:05 ~-~-> 00:37:09 |I'm seeing, Oh, they ran, buy, stop, so now it's going to reject lower. I got to
301 |300 |00:37:09 ~-~-> 00:37:15 |see other things. And when I'm watching how prices are creating these short term
302 |301 |00:37:15 ~-~-> 00:37:20 |highs, I'm weighing out, how does it deliver after it does it? Is it? Is it
303 |302 |00:37:20 ~-~-> 00:37:23 |quickly, trying to get away from it, because if it's not, then it's probably
304 |303 |00:37:23 ~-~-> 00:37:26 |going to keep pressing higher. And you don't want to try to sell short on a day
305 |304 |00:37:26 ~-~-> 00:37:30 |where it's just, even though there's a large range gap opening, and everybody
306 |305 |00:37:30 ~-~-> 00:37:34 |wants to see the gap fill like that's the natural tendency for people that
307 |306 |00:37:34 ~-~-> 00:37:38 |want to trade or day trade. They they want to see this gap fill in. They want
308 |307 |00:37:38 ~-~-> 00:37:45 |to see that. But what if it doesn't and you just keep trying to sell short? I've
309 |308 |00:37:45 ~-~-> 00:37:49 |done that as a 20 year old. I did a lot of that in the bond market. When I
310 |309 |00:37:49 ~-~-> 00:37:49 |started buying
311 |310 |00:37:59 ~-~-> 00:38:08 |hydrate, it's caught that mute button just in time. Had to sneeze, sorry.
312 |311 |00:38:14 ~-~-> 00:38:20 |So one of the best things you can learn how to do Caleb is to just sit still.
313 |312 |00:38:20 ~-~-> 00:38:25 |Learn to just be very, very still. Don't, don't try to rush to do
314 |313 |00:38:25 ~-~-> 00:38:34 |something. You make more money doing little or less, and you certainly keep
315 |314 |00:38:34 ~-~-> 00:38:41 |profits longer by doing less. Doesn't sound like it should be like that, But
316 |315 |00:38:41 ~-~-> 00:38:43 |that's exactly what it's that's the truth.
317 |316 |00:39:02 ~-~-> 00:39:15 |I Okay, I like what we're seeing here. So we had this high, take out that one,
318 |317 |00:39:15 ~-~-> 00:39:19 |and this high here failed. We broke lower below here, and then we're seeing
319 |318 |00:39:19 ~-~-> 00:39:22 |the bodies even on the 15 second chart, respect the lower portion of that
320 |319 |00:39:22 ~-~-> 00:39:25 |inversion. That inversion fair value gap. So that takes my attention back
321 |320 |00:39:25 ~-~-> 00:39:27 |into the one minute chart.
322 |321 |00:39:36 ~-~-> 00:39:44 |Learning to manage the fear of missing out is like it's it's hard, folks like,
323 |322 |00:39:44 ~-~-> 00:39:48 |it is hard. There's really no way around it that makes it easier or faster. You
324 |323 |00:39:49 ~-~-> 00:39:52 |just got to sit out here and watch price action. And even if you can't watch it
325 |324 |00:39:52 ~-~-> 00:39:57 |live, you pay for it. Like I use Camtasia by TechSmith. I've used them
326 |325 |00:39:57 ~-~-> 00:40:06 |since 2000 i. 12 when I first started making videos. I think it's an easy
327 |326 |00:40:06 ~-~-> 00:40:10 |program to use, and if you want to record price action. I mean, obviously,
328 |327 |00:40:10 ~-~-> 00:40:13 |while I'm live streaming, you can, you can look at what I'm showing you here,
329 |328 |00:40:13 ~-~-> 00:40:18 |but eventually you're going to want to do this on your own and have a log of
330 |329 |00:40:18 ~-~-> 00:40:25 |your own charts. I'm watching the wick here, the midpoint of that I'm watching,
331 |330 |00:40:25 ~-~-> 00:40:34 |if there's any sensitivity around that, the the recording of the key time frames
332 |331 |00:40:34 ~-~-> 00:40:39 |that you want to watch, having that information when you come home from
333 |332 |00:40:39 ~-~-> 00:40:43 |work, or if you can't be awake, like when I'm doing the live streams, but you
334 |333 |00:40:43 ~-~-> 00:40:47 |want to still learn how to do this, there's nothing better than watching the
335 |334 |00:40:47 ~-~-> 00:40:54 |actual candlesticks paint and create the the full range, like every fluctuation
336 |335 |00:40:54 ~-~-> 00:40:59 |of every single price tick you need to see that you cannot. And I mean this
337 |336 |00:40:59 ~-~-> 00:41:04 |wholeheartedly. I know some of you just love that Market Replay. That Market
338 |337 |00:41:04 ~-~-> 00:41:09 |Replay is like a mirror, meaning that when you look in the mirror and you look
339 |338 |00:41:09 ~-~-> 00:41:13 |at yourself, you think you see what everyone else sees. We don't see that.
340 |339 |00:41:13 ~-~-> 00:41:18 |We see the and then when you see a reflection of your reflection in a
341 |340 |00:41:18 ~-~-> 00:41:21 |mirror, that means the actual perspective that everyone around you
342 |341 |00:41:21 ~-~-> 00:41:24 |sees. It's a little shocking. All of a sudden you discover your nose is a
343 |342 |00:41:24 ~-~-> 00:41:27 |little bit crooked. One ear looks a little bit lower or higher than the
344 |343 |00:41:27 ~-~-> 00:41:31 |other. It's like, what is going on here? But that's how everyone's always saw
345 |344 |00:41:31 ~-~-> 00:41:36 |you. But you see yourself in the mirror as you know the reflections. Image Well,
346 |345 |00:41:36 ~-~-> 00:41:42 |Mark replays, the same thing you're looking at price with only two
347 |346 |00:41:42 ~-~-> 00:41:48 |fluctuations. Watch and see. When you look at trading views Market Replay, it
348 |347 |00:41:48 ~-~-> 00:41:53 |shows you one tick and then boom, is settlement, one tick, and boom and
349 |348 |00:41:53 ~-~-> 00:41:59 |settlement. So it's too wooden, it's too stilted. It's, it's, it's not, it's not
350 |349 |00:41:59 ~-~-> 00:42:07 |going to give you the same experience, which is necessary, because if you train
351 |350 |00:42:07 ~-~-> 00:42:13 |yourself to look at these very, very static candlestick formations that are
352 |351 |00:42:13 ~-~-> 00:42:17 |seen by watching it go through Market Replay, it gives you a false sense of
353 |352 |00:42:17 ~-~-> 00:42:22 |security, and you don't have the ability to see when the candles are going up and
354 |353 |00:42:22 ~-~-> 00:42:26 |down, up and down, and every time it creates it looks like it's finished, it
355 |354 |00:42:26 ~-~-> 00:42:30 |ain't going to make a bigger portion of the camera, and then it does so you
356 |355 |00:42:30 ~-~-> 00:42:35 |don't have that effect in Market Replay. So the best thing you can do is record
357 |356 |00:42:35 ~-~-> 00:42:40 |your your charts with live price feed. It's a little bit of an investment. And
358 |357 |00:42:40 ~-~-> 00:42:42 |I know some people are saying, well, I can't afford that. Then you can't trade.
359 |358 |00:42:42 ~-~-> 00:42:46 |You can't trade. I mean, I don't know how else to say it, but that's just the
360 |359 |00:42:46 ~-~-> 00:42:50 |way it is. Then you can't trade. Because if you can't afford to get the resources
361 |360 |00:42:50 ~-~-> 00:42:53 |and tools, you don't hate me or anyone else that tells you that you're not
362 |361 |00:42:53 ~-~-> 00:42:56 |going to be equipped to do it. You know, I would want to be told that, like you
363 |362 |00:42:56 ~-~-> 00:43:00 |just you're going to have to avail yourself certain resources before you do
364 |363 |00:43:00 ~-~-> 00:43:04 |it. If you can't, then why are you trying to risk money? What kind of money
365 |364 |00:43:04 ~-~-> 00:43:07 |are we talking about? Because you can't pay for the resources. What are you
366 |365 |00:43:07 ~-~-> 00:43:11 |scraping by just to get the funded account, challenges paid for, and just
367 |366 |00:43:11 ~-~-> 00:43:14 |hoping on a wing and a prayer that you're going to be profitable? You're
368 |367 |00:43:14 ~-~-> 00:43:17 |already starting the game off wrong, like you're you're building it up to
369 |368 |00:43:17 ~-~-> 00:43:21 |something that's going to have to be an Olympic feat, and then you're wondering
370 |369 |00:43:21 ~-~-> 00:43:24 |why you're struggling, and it's why you're rushing, and you're feeling FOMO,
371 |370 |00:43:24 ~-~-> 00:43:28 |I have to do something because I need this to work. I can't afford to trade.
372 |371 |00:43:28 ~-~-> 00:43:33 |That's really what what you're saying. So if you can't afford to trade, then
373 |372 |00:43:33 ~-~-> 00:43:37 |you can't afford success. That's that's what you're saying. You don't want to
374 |373 |00:43:38 ~-~-> 00:43:42 |either do something to afford the resources and the time invested in
375 |374 |00:43:42 ~-~-> 00:43:48 |learning how to do it correctly, versus someone that is willing to do that.
376 |375 |00:43:49 ~-~-> 00:43:53 |That's what makes this hard, especially as an educator, as a mentor, because
377 |376 |00:43:53 ~-~-> 00:43:58 |students want to hear you're going to be successful and don't take no for an
378 |377 |00:43:58 ~-~-> 00:44:02 |answer. Sometimes it's going to be no for a lot of you, and it's going to be
379 |378 |00:44:02 ~-~-> 00:44:08 |outside my capability to to assist you or yours for the time being. It doesn't
380 |379 |00:44:08 ~-~-> 00:44:11 |mean it's forever, but some people in other countries just don't have the
381 |380 |00:44:11 ~-~-> 00:44:17 |resources to do it, and I don't always have an answer for them, and they're
382 |381 |00:44:17 ~-~-> 00:44:21 |always seeking somebody else that's going to promise them that, and ended up
383 |382 |00:44:21 ~-~-> 00:44:28 |finding that it's not not happening for them. That's unfortunately the realities
384 |383 |00:44:28 ~-~-> 00:44:29 |of this stuff.
385 |384 |00:44:37 ~-~-> 00:44:41 |So anyway, well, saying earlier, as we were breaking down here, and we're
386 |385 |00:44:41 ~-~-> 00:44:45 |working off of this. I wanted to go back to that one minute chart. I wanted to
387 |386 |00:44:45 ~-~-> 00:44:51 |see how we were going to use this candle member that high, that low here, didn't
388 |387 |00:44:51 ~-~-> 00:44:56 |even get down to it. So we weren't even get down to the body that can't or even
389 |388 |00:44:56 ~-~-> 00:45:00 |make them attempt to go below it. We do have cell side building. I. Hmm, believe
390 |389 |00:45:01 ~-~-> 00:45:10 |these relative e colos here, here, large liquidity resting below here. But now
391 |390 |00:45:10 ~-~-> 00:45:17 |imagine if you were trying to sell short, thinking it okay, it's taking the
392 |391 |00:45:17 ~-~-> 00:45:22 |stops. It's taking the stops. Now it's really taking the stops, but that gap
393 |392 |00:45:22 ~-~-> 00:45:27 |it's got to fill. It's got to fill it. I hurt myself a lot doing that. Eventually
394 |393 |00:45:27 ~-~-> 00:45:33 |you learn that this is not something. I am not willing to buy it. This thing can
395 |394 |00:45:33 ~-~-> 00:45:40 |go up to 18,900 today. I don't care. I don't care. I'm not willing to pay that
396 |395 |00:45:40 ~-~-> 00:45:44 |price, because if I pay that price, am I going to be comfortable holding that
397 |396 |00:45:44 ~-~-> 00:45:48 |position? I'm not going to be hold I'm not going to be comfortable holding that
398 |397 |00:45:48 ~-~-> 00:45:51 |position because it goes against the very principle that I trade on. I have
399 |398 |00:45:51 ~-~-> 00:45:59 |to buy discount. This is an expensive premium price in an environment that is
400 |399 |00:45:59 ~-~-> 00:46:04 |being manipulated because we have two big, impactful news drivers, the PPI and
401 |400 |00:46:04 ~-~-> 00:46:08 |the CPI number. And for a new student, hearing that, it sounds like, well,
402 |401 |00:46:08 ~-~-> 00:46:12 |you're, you're just making excuses because you can't, you can't buy I can,
403 |402 |00:46:12 ~-~-> 00:46:18 |I can tell you where it created the setups, and you can see them yourself.
404 |403 |00:46:18 ~-~-> 00:46:22 |I'm not willing to take that trade. And I get a lot of that question, a lot
405 |404 |00:46:22 ~-~-> 00:46:25 |like, how do you filter out the times where you want to be a buyer or seller
406 |405 |00:46:25 ~-~-> 00:46:28 |when prices is doing certain things, like, for instance, it opens, and this
407 |406 |00:46:28 ~-~-> 00:46:31 |keeps inching a little bit higher, inching a little bit higher. I'm not
408 |407 |00:46:31 ~-~-> 00:46:37 |willing to take that, but I'm willing to wait for the ones that work, that yield
409 |408 |00:46:37 ~-~-> 00:46:40 |$100,000 in selling short on the one minute high the day, and trading all the
410 |409 |00:46:40 ~-~-> 00:46:45 |way down to a deep discount. That's the stuff I'm willing to wait for. I'm
411 |410 |00:46:45 ~-~-> 00:46:51 |waiting for very surgical, precise things to align, and if they're not
412 |411 |00:46:51 ~-~-> 00:46:55 |there, I'm not here to try to do something for the sake of impressing
413 |412 |00:46:55 ~-~-> 00:47:01 |every live stream like that. That's not I'm teaching my son. That's this is not
414 |413 |00:47:01 ~-~-> 00:47:04 |a I'm going to show you how smart I am that that's not that is the trade
415 |414 |00:47:04 ~-~-> 00:47:08 |executions videos. That's what they wrote, that they're for, that that's
416 |415 |00:47:08 ~-~-> 00:47:12 |what that's for. But more in here watching price action. And I'm teaching,
417 |416 |00:47:12 ~-~-> 00:47:17 |I'm trying to teach you how to manage yourself, manage your expectations, and
418 |417 |00:47:17 ~-~-> 00:47:20 |in fear of missing moves, there's nothing to fear. There's literally
419 |418 |00:47:20 ~-~-> 00:47:24 |nothing to fear. There's no regret about missing any kind of move if it doesn't
420 |419 |00:47:24 ~-~-> 00:47:28 |make sense and if it's too expensive, why buy it? If it doesn't make sense and
421 |420 |00:47:28 ~-~-> 00:47:33 |it's too cheap, Why sell short. It's very simple logic. It's not complicated,
422 |421 |00:47:33 ~-~-> 00:47:40 |but that's what I live by. I live by that principle. And anyone else out
423 |422 |00:47:40 ~-~-> 00:47:44 |there could be taking trades. And I'm sure I have students in here. I have
424 |423 |00:47:44 ~-~-> 00:47:48 |people probably on the other end of of what I teach, that's outside of what I
425 |424 |00:47:48 ~-~-> 00:47:53 |teach, basically. And they may be doing something else, but you didn't see them
426 |425 |00:47:53 ~-~-> 00:47:57 |take $100,000 last Friday, and you ain't go see them repeat as much as they want
427 |426 |00:47:57 ~-~-> 00:48:01 |to say. So in the comment section I was on Twitter, not one of them said,
428 |427 |00:48:01 ~-~-> 00:48:07 |here's, here's where I'm going to do it. It didn't, didn't happen. Hush on
429 |428 |00:48:07 ~-~-> 00:48:15 |Twitter. Patrick Whelan was the only one talking. You wanted that engagement. How
430 |429 |00:48:15 ~-~-> 00:48:18 |you doing? Pat who hope Hawaii's lovely today. You
431 |430 |00:48:35 ~-~-> 00:48:41 |Is there a time at which I would say I'm not interested in not taking any trades,
432 |431 |00:48:43 ~-~-> 00:48:47 |given the current like the way it is, right here, we had a large gap opening,
433 |432 |00:48:47 ~-~-> 00:48:52 |and it says digging into that weekly inversion, fair value gap at 11 o'clock,
434 |433 |00:48:52 ~-~-> 00:48:55 |1115 I would usually pull the plug if I don't see something that makes sense,
435 |434 |00:48:55 ~-~-> 00:49:02 |where it starts to break down, because I'm my interest is this. I only need it
436 |435 |00:49:05 ~-~-> 00:49:09 |to get into this area here. I don't even need it to get down to the mid gap. Like
437 |436 |00:49:09 ~-~-> 00:49:12 |I don't need that because I'm certain that if we can get below this low here,
438 |437 |00:49:13 ~-~-> 00:49:16 |it will give me a fair value gap. It'll give me a bearish over block. It'll give
439 |438 |00:49:16 ~-~-> 00:49:21 |me a small bearish breaker. It'll give me a institutional overflow entry drill.
440 |439 |00:49:21 ~-~-> 00:49:25 |It's something that I can key off of either on a one minute chart or a 15
441 |440 |00:49:25 ~-~-> 00:49:31 |second chart. And that difference between this candle is low to three
442 |441 |00:49:31 ~-~-> 00:49:36 |quarters or half of the distance between the upper quadrant and lower quadrant of
443 |442 |00:49:36 ~-~-> 00:49:41 |the opening range gap. That's what I'm sitting comfortably waiting for. And if
444 |443 |00:49:41 ~-~-> 00:49:45 |it teaches, if it keeps going higher away from me, fine, I don't care. I'm
445 |444 |00:49:45 ~-~-> 00:49:51 |not losing any money. I don't have any anxiety. I have zero anxiety. My pulse
446 |445 |00:49:51 ~-~-> 00:49:57 |is literally probably 60 beats or lower. I have no no sense of urgency at all,
447 |446 |00:49:58 ~-~-> 00:50:04 |none i. And your trading needs to be like that. If you're watching price, or
448 |447 |00:50:04 ~-~-> 00:50:10 |if you're trading and you're hearing yourself or you're feeling yourself a
449 |448 |00:50:10 ~-~-> 00:50:15 |lot of sympathetic sigh, you're doing all that. What you're doing it that's
450 |449 |00:50:15 ~-~-> 00:50:22 |your body's involuntary response to stress, and when you want to bring
451 |450 |00:50:22 ~-~-> 00:50:26 |yourself down real quick, if you're feeling stressed, find a way to find
452 |451 |00:50:26 ~-~-> 00:50:35 |your self into a yawn. And if you're not physically doing a yawn, pantomime one
453 |452 |00:50:35 ~-~-> 00:50:41 |as best you can stretch, and you stretch, stretch your arms out and do a
454 |453 |00:50:41 ~-~-> 00:50:48 |yawn. What that does? It immediately resets your nervous system. Perfect
455 |454 |00:50:48 ~-~-> 00:50:52 |exam. I see all the time with my dogs. If you have a dog, watch them. Now, let
456 |455 |00:50:52 ~-~-> 00:50:56 |me keep Let me teach you something here, I'd like to see it break down in here.
457 |456 |00:50:56 ~-~-> 00:51:03 |Now, this turn, I'm going to see it make an attempt to get through that, and then
458 |457 |00:51:03 ~-~-> 00:51:06 |if it does, we'll watch and see if we can get into here. Because this is the,
459 |458 |00:51:06 ~-~-> 00:51:09 |this is the area where I'm hunting. I don't care about being all the way up in
460 |459 |00:51:09 ~-~-> 00:51:15 |here. It's not necessary. But if you have a dog, and the dog goes to its bed,
461 |460 |00:51:15 ~-~-> 00:51:20 |or wherever it wants to rest, watch what it'll do. It'll lay down, and then it
462 |461 |00:51:20 ~-~-> 00:51:29 |will always do this. Every single time the dog will do this, it'll go and it's
463 |462 |00:51:29 ~-~-> 00:51:33 |three, four seconds, it's asleep. Immediately. What's it doing? It's
464 |463 |00:51:33 ~-~-> 00:51:36 |resetting its nervous system. It doesn't know it wants to do it. It's just been
465 |464 |00:51:36 ~-~-> 00:51:43 |created by God to do that. It's designed to do that. Well, when we're tired, what
466 |465 |00:51:43 ~-~-> 00:51:47 |are we doing? We're forcing ourselves to stay awake, and then what is our body
467 |466 |00:51:47 ~-~-> 00:51:56 |doing? As a response to that, you yawn, just that I already feel even more
468 |467 |00:51:56 ~-~-> 00:52:00 |relaxed. If you don't believe me, try it. If you're having anxiety, if you
469 |468 |00:52:00 ~-~-> 00:52:04 |feel like you're missing something, you're having FOMO stretch yourself.
470 |469 |00:52:04 ~-~-> 00:52:09 |Think about how good it feels to yawn. It's very relaxing. It's satisfying. But
471 |470 |00:52:09 ~-~-> 00:52:13 |what's actually happening is is your vagus nerve is being stimulated, which
472 |471 |00:52:13 ~-~-> 00:52:16 |is a nerve that runs down from your brain behind your ear, down inside your
473 |472 |00:52:16 ~-~-> 00:52:20 |neck, and it lays literally like a web across all of your major organs. So when
474 |473 |00:52:20 ~-~-> 00:52:23 |you're stressed, it affects all your major organs, and that's why you feel
475 |474 |00:52:23 ~-~-> 00:52:27 |terrible when you're in anxiety attack or panic, and then you start feeling the
476 |475 |00:52:27 ~-~-> 00:52:30 |body symptoms that cortisol, which is the chemical that's released after
477 |476 |00:52:30 ~-~-> 00:52:34 |adrenaline, is in your bloodstream, and the whole time, if you don't have coping
478 |477 |00:52:34 ~-~-> 00:52:39 |mechanisms to counteract that, you're not going to trade with a clear mind.
479 |478 |00:52:39 ~-~-> 00:52:42 |You're not going to be able to manage your emotions. You're not gonna be able
480 |479 |00:52:42 ~-~-> 00:52:45 |to manage your the physiological stress that you're placing yourself, and if you
481 |480 |00:52:45 ~-~-> 00:52:49 |continuously stay in that, you will eventually have heart attacks. You'll
482 |481 |00:52:49 ~-~-> 00:52:52 |have you'll have strokes, you'll have things that are gonna make you
483 |482 |00:52:52 ~-~-> 00:53:03 |physically ill. So you have to relax, take a deep breath, and then when you
484 |483 |00:53:03 ~-~-> 00:53:07 |think your lungs are completely full, try to suck in a little Bit more air. So
485 |484 |00:53:07 ~-~-> 00:53:08 |it's like,
486 |485 |00:53:22 ~-~-> 00:53:27 |that's the enthes at least twice the amount of time that you breathe in.
487 |486 |00:53:27 ~-~-> 00:53:30 |Slowly, your exhale has to be twice as long, and it's hard to do it in the
488 |487 |00:53:30 ~-~-> 00:53:34 |beginning. If you're having a panic attack, it's really hard to do, but that
489 |488 |00:53:34 ~-~-> 00:53:38 |will immediately reset your nervous system and cancel out your anxiety
490 |489 |00:53:38 ~-~-> 00:53:47 |attack. When I was having bouts with high blood pressure, that was a
491 |490 |00:53:47 ~-~-> 00:53:52 |physiological response to having a vertigo attack. I only had one attack of
492 |491 |00:53:52 ~-~-> 00:53:57 |it, but I was thinking, Am I stroking out because my dad's had strokes, and
493 |492 |00:53:57 ~-~-> 00:54:02 |his father died of a stroke. Heart disease in my family, and diabetes is in
494 |493 |00:54:02 ~-~-> 00:54:06 |my family. My blood sugar's fine. My blood work is perfect. My heart rate is
495 |494 |00:54:06 ~-~-> 00:54:11 |like an athlete. My blood pressure. When I was contemplating I was going through
496 |495 |00:54:11 ~-~-> 00:54:15 |something that was leading to that, my blood pressure was skyrocketing high
497 |496 |00:54:15 ~-~-> 00:54:21 |like dangerous levels. But then I remembered that okay, if I go to the
498 |497 |00:54:21 ~-~-> 00:54:24 |emergency room and they do all the checks and balances on me, and
499 |498 |00:54:24 ~-~-> 00:54:31 |everything is as it should be, CAT scans, EKGs, like everything, it did all
500 |499 |00:54:31 ~-~-> 00:54:36 |the work. And literally, the nurse says, I've never seen anybody with blood work,
501 |500 |00:54:36 ~-~-> 00:54:42 |that's perfect. And you're 52 I said, I will be 52 but that was, that's what I
502 |501 |00:54:42 ~-~-> 00:54:46 |needed to hear. And I didn't know what I was having was a vertical attack, and I
503 |502 |00:54:47 ~-~-> 00:54:51 |expected that to happen again, is what that was. So I was living in anxiety,
504 |503 |00:54:51 ~-~-> 00:54:56 |expecting that next vertigo attack. That never came, but I've learned how to now
505 |504 |00:54:56 ~-~-> 00:55:00 |manage it. Should I have another episode of it? My mom had one of them when. He
506 |505 |00:55:00 ~-~-> 00:55:03 |was younger and never had another one. But it happened after me doing my
507 |506 |00:55:03 ~-~-> 00:55:08 |inversion table. I did multiple sessions of going inverted, and I think I
508 |507 |00:55:08 ~-~-> 00:55:11 |probably released one of those calcium deposits from your inner ear to
509 |508 |00:55:11 ~-~-> 00:55:16 |everybody has, and that's what caused it. So I haven't inverted myself since
510 |509 |00:55:16 ~-~-> 00:55:21 |then, and you know, hopefully, because I won't plan on doing it anytime in the
511 |510 |00:55:21 ~-~-> 00:55:30 |future. I'm watching the breaker here, the high, the low and the high, the the
512 |511 |00:55:30 ~-~-> 00:55:36 |anxiety of wondering, Am I? Am I feeling the effects of being older? And it's my
513 |512 |00:55:36 ~-~-> 00:55:40 |body really, because I wore, I wore my body down a lot with stress as a younger
514 |513 |00:55:40 ~-~-> 00:55:44 |man, and that stuff has a residual effect that comes and pays dividends
515 |514 |00:55:44 ~-~-> 00:55:48 |later on. So I'm teaching this to you now because you may not be thinking that
516 |515 |00:55:48 ~-~-> 00:55:55 |it's, it's something you need to worry about, that you do. And by being able to
517 |516 |00:55:55 ~-~-> 00:56:00 |reset instantly, God's given us the ability to immediately reset our nervous
518 |517 |00:56:00 ~-~-> 00:56:05 |system. And once I started applying all that again, my blood pressure would be
519 |518 |00:56:05 ~-~-> 00:56:17 |170 680 over 120 and then five minute breathing of slow inhales, when you feel
520 |519 |00:56:17 ~-~-> 00:56:22 |like your inhales at its fullest capacity, that try to suck in a little
521 |520 |00:56:22 ~-~-> 00:56:28 |bit more in and hold it four seconds and then release it at least. It has to be
522 |521 |00:56:28 ~-~-> 00:56:32 |at least twice as long as it took you to inhale and it's it's not easy to do. It
523 |522 |00:56:32 ~-~-> 00:56:36 |feels like you ain't breathing enough, but you really are all right. We're
524 |523 |00:56:36 ~-~-> 00:56:37 |digging down into that low now you
525 |524 |00:56:43 ~-~-> 00:56:47 |and if you take your time when your exhales, if your exhales are slower than
526 |525 |00:56:47 ~-~-> 00:56:54 |your inhales, you're active. You're activating the side of your nervous
527 |526 |00:56:54 ~-~-> 00:57:00 |system that allows you to relax. It's real easy for a human being to activate
528 |527 |00:57:00 ~-~-> 00:57:05 |its fight or flight. Stress. Someone comes up, you think they're going to
529 |528 |00:57:05 ~-~-> 00:57:08 |punch you, or if you get hit, if you have an accident, something scary
530 |529 |00:57:08 ~-~-> 00:57:12 |happens to you. Immediately, your pulse goes up, you get an adrenaline
531 |530 |00:57:12 ~-~-> 00:57:17 |injection. And the Creator gave us that ability to be able to fight or flight,
532 |531 |00:57:17 ~-~-> 00:57:25 |run away or fight your your your senses are heightened because of the
533 |532 |00:57:25 ~-~-> 00:57:28 |adrenaline. You're ready to use more strength and reserves in your muscles
534 |533 |00:57:29 ~-~-> 00:57:34 |than you usually call for so it's so easy to get in that state. And if you
535 |534 |00:57:34 ~-~-> 00:57:37 |live in that state as a trader that is constantly just trying to chase
536 |535 |00:57:37 ~-~-> 00:57:40 |something because you don't put the work in trying to make a model try to
537 |536 |00:57:41 ~-~-> 00:57:45 |discipline yourself, you will condition yourself to always go into that fight or
538 |537 |00:57:45 ~-~-> 00:57:51 |flight, feeling that sensation of, I am in I'm in an emergency when you're not,
539 |538 |00:57:51 ~-~-> 00:57:54 |you're tricking yourself, telling yourself you're always in an emergency.
540 |539 |00:57:54 ~-~-> 00:57:58 |And you wonder why you're always stressed out. But that goes away
541 |540 |00:57:58 ~-~-> 00:58:04 |instantaneously once you understand how to control your breath, and your breath
542 |541 |00:58:04 ~-~-> 00:58:10 |controls your pulse, and your pulse controls adrenaline and then cortisol,
543 |542 |00:58:11 ~-~-> 00:58:14 |if cortisol releases in your body, you got about 20 to 30 minutes before that
544 |543 |00:58:14 ~-~-> 00:58:18 |stuff burns off. You'll have fidgetiness, you'll have nervousness and
545 |544 |00:58:18 ~-~-> 00:58:22 |shakes, maybe you'll feel like you're sick to your stomach and you just don't
546 |545 |00:58:22 ~-~-> 00:58:25 |know what to do, and you feel like you're going to pass out. All these
547 |546 |00:58:25 ~-~-> 00:58:29 |symptoms are a response to cortisol being in your body. But anxiousness
548 |547 |00:58:29 ~-~-> 00:58:34 |starts with the adrenaline, and the way you avoid having that ever occur in your
549 |548 |00:58:34 ~-~-> 00:58:37 |trading is having a model knowing what to what are you looking for? What are
550 |549 |00:58:37 ~-~-> 00:58:40 |you waiting for? If you don't know what you're waiting for, you're waiting for a
551 |550 |00:58:40 ~-~-> 00:58:43 |jump scare. Remember the big trend that used to be on YouTube, all these jump
552 |551 |00:58:43 ~-~-> 00:58:48 |scare videos. My kids love them. And I thought I said, you know, you love it
553 |552 |00:58:48 ~-~-> 00:58:52 |right now, but when you get into the real world and you're expecting the the
554 |553 |00:58:52 ~-~-> 00:58:58 |things that happen in this world to be smooth, and you have flat tires, a
555 |554 |00:58:58 ~-~-> 00:59:01 |breakup in a relationship, a health scare, you know, you won't appreciate
556 |555 |00:59:01 ~-~-> 00:59:05 |those things. Man, it's a carnival ride right now. But in trading, you don't
557 |556 |00:59:05 ~-~-> 00:59:10 |want a carnival ride. You want it to be boring, absolutely boring. I'm watching
558 |557 |00:59:10 ~-~-> 00:59:17 |the 15 second fair value got here. I'd like to see it stay heavy and all that.
559 |558 |00:59:17 ~-~-> 00:59:18 |I
560 |559 |00:59:23 ~-~-> 00:59:29 |but you have the ability to reset your nervous system, and it cancels out any
561 |560 |00:59:29 ~-~-> 00:59:34 |anxiety, because you have to first stop the pumping of the adrenaline, and you
562 |561 |00:59:34 ~-~-> 00:59:38 |have to stop the cortisol releasing in your bloodstream. Cortisol is your
563 |562 |00:59:38 ~-~-> 00:59:43 |stress hormone. You keep pumping that into your body every single trading day,
564 |563 |00:59:43 ~-~-> 00:59:45 |you're going to have heart disease. You're going to have hardening of the
565 |564 |00:59:45 ~-~-> 00:59:49 |arteries, because when Cortisol is released into your bloodstream, the way
566 |565 |00:59:49 ~-~-> 00:59:53 |your body repairs it is it lays down cholesterol inside your arteries and
567 |566 |00:59:53 ~-~-> 00:59:57 |your blood vessels. And to keep doing that, and on top of that, you eat
568 |567 |00:59:57 ~-~-> 01:00:03 |unhealthy Chipotle you. All this fast food garbage you don't eat clean, you
569 |568 |01:00:03 ~-~-> 01:00:08 |are going to have health deteriorate, and you want to be able to sit here
570 |569 |01:00:08 ~-~-> 01:00:13 |comfortably and calmly, not worrying about what what you should be doing,
571 |570 |01:00:13 ~-~-> 01:00:17 |because you should, you should already know what you're doing, waiting for a
572 |571 |01:00:17 ~-~-> 01:00:21 |setup that's based on logic that you've worked on and framed without any
573 |572 |01:00:21 ~-~-> 01:00:26 |necessity about being right. Being right is not what my goal is. I'm not teaching
574 |573 |01:00:26 ~-~-> 01:00:31 |you to be right. I said I saw somebody on Twitter give this real long,
575 |574 |01:00:31 ~-~-> 01:00:35 |bloviated explanation or expose about what they think about I'm teaching, or
576 |575 |01:00:35 ~-~-> 01:00:40 |how I trade, or how I try to cultivate the mindsets of my students. I'm not
577 |576 |01:00:40 ~-~-> 01:00:44 |teaching you to be right. In fact, I've said the opposite. It's not important
578 |577 |01:00:44 ~-~-> 01:00:48 |about being right. It's important to be in control of yourself, and it's
579 |578 |01:00:48 ~-~-> 01:00:53 |important to know what your model is. Know it in a written form, know what it
580 |579 |01:00:53 ~-~-> 01:00:57 |looks like graphically, like a diagram. What does it look like in price action?
581 |580 |01:00:57 ~-~-> 01:01:00 |Draw it out. If you can't draw it out, then you don't know what it is. You
582 |581 |01:01:00 ~-~-> 01:01:04 |can't recognize it, and it may not look exactly. Look exactly like it would in
583 |582 |01:01:04 ~-~-> 01:01:07 |price action, but to someone that trades, we would understand exactly what
584 |583 |01:01:07 ~-~-> 01:01:11 |that is. But someone that's not a trader wouldn't understand what you're drawing
585 |584 |01:01:11 ~-~-> 01:01:15 |but controlling your breath and controlling your thoughts, if you're
586 |585 |01:01:15 ~-~-> 01:01:18 |constantly telling yourself I'm going to miss a move, Oh man, I'm losing all the
587 |586 |01:01:18 ~-~-> 01:01:20 |time. This isn't worth it. Why am I putting myself through this? You're
588 |587 |01:01:20 ~-~-> 01:01:24 |basically telling yourself you're in an emergency. An emergency, and why are you
589 |588 |01:01:24 ~-~-> 01:01:27 |surprised when you have adrenaline dumping you, and then you have cortisol
590 |589 |01:01:27 ~-~-> 01:01:30 |release in you, and then you start feeling physical symptoms of a full
591 |590 |01:01:30 ~-~-> 01:01:37 |blown panic attack? Trust me, if you never had a tang attack, it's a very
592 |591 |01:01:37 ~-~-> 01:01:41 |scary feeling. But as soon as you know that it's just that, and it's not
593 |592 |01:01:41 ~-~-> 01:01:46 |something like a medical emergency. You can immediately turn it off, and you
594 |593 |01:01:46 ~-~-> 01:01:54 |have these these. The easiest way to stop it is slow your breath. Your
595 |594 |01:01:54 ~-~-> 01:01:58 |exhales have to be at least twice the length and time that your inhales are.
596 |595 |01:01:58 ~-~-> 01:02:05 |Slow it down. You can do things like box breathing, the best thing I do for me,
597 |596 |01:02:05 ~-~-> 01:02:10 |and box breathing doesn't work for everybody, but I usually do a four to
598 |597 |01:02:10 ~-~-> 01:02:13 |five seconds slow inhale, and then when I feel like I have my lungs at full
599 |598 |01:02:13 ~-~-> 01:02:18 |capacity, I do that one more little sniff to get the last piece of empty
600 |599 |01:02:18 ~-~-> 01:02:21 |space in my lungs, and I hold it for four seconds. And you first do it three
601 |600 |01:02:21 ~-~-> 01:02:26 |times, you're there you go. That's what I'm looking for right there. Now we can
602 |601 |01:02:26 ~-~-> 01:02:30 |watch below this low change that to
603 |602 |01:02:38 ~-~-> 01:02:43 |we can see it over here on the two different time frames. So this line
604 |603 |01:02:43 ~-~-> 01:02:48 |here, this blue line, is this line here on the 15 second chart over here, and
605 |604 |01:02:48 ~-~-> 01:02:52 |this is the upper quadrant of the opening range gap. That's this over here
606 |605 |01:02:52 ~-~-> 01:02:56 |on the one minute chart. You see that Isn't this good. This is good
607 |606 |01:02:56 ~-~-> 01:02:59 |information. And there's no books out here with this stuff. They're not going
608 |607 |01:02:59 ~-~-> 01:03:02 |to tie it together with trading and how to manage yourself. That's why I say
609 |608 |01:03:02 ~-~-> 01:03:06 |that there's no, there's no good trade psychology book out there. As much as
610 |609 |01:03:06 ~-~-> 01:03:09 |everybody loves Mark Douglas's book, it's good for what it is, but it
611 |610 |01:03:09 ~-~-> 01:03:13 |doesn't. It doesn't it doesn't do it for you. Really, not, really not. It didn't
612 |611 |01:03:13 ~-~-> 01:03:16 |do it for me. I say it that way. I think it's more, more fair statement for me to
613 |612 |01:03:16 ~-~-> 01:03:23 |say it that way. And then we'll do we'll annotate the mid gap here.
614 |613 |01:03:34 ~-~-> 01:03:38 |But stress and anxiety, you can turn that off immediately. Boom, just like
615 |614 |01:03:38 ~-~-> 01:03:42 |that. It starts by controlling your breath and your thoughts. While you're
616 |615 |01:03:42 ~-~-> 01:03:45 |slowing your breath down, you're thinking positive. You're reminding
617 |616 |01:03:45 ~-~-> 01:03:49 |yourself that there is no there's no emergency, nothing's forcing you to take
618 |617 |01:03:49 ~-~-> 01:03:52 |a trade today. You don't have to take a trade today. You don't have to do that.
619 |618 |01:03:53 ~-~-> 01:03:56 |You don't have to trade every fluctuation. You don't have to do that.
620 |619 |01:03:56 ~-~-> 01:04:01 |But you're telling yourself you do when you don't. So I would very like to see
621 |620 |01:04:03 ~-~-> 01:04:09 |if it can touch that six oh 4.75 level, or get it. Not that it doesn't have to
622 |621 |01:04:09 ~-~-> 01:04:14 |touch it, but if you notice that same six oh 4.75 level has a little gap in
623 |622 |01:04:14 ~-~-> 01:04:18 |there on the 15 second chart. I'd like to see it bump this candle sticks high
624 |623 |01:04:18 ~-~-> 01:04:23 |right here on the on that one, just to hit that and then see if we can roll
625 |624 |01:04:23 ~-~-> 01:04:30 |over from that like we need to study the the effects of doing things that you
626 |625 |01:04:30 ~-~-> 01:04:35 |don't fully understand how to do is a scary thing, and then we add to it that
627 |626 |01:04:35 ~-~-> 01:04:40 |the embarrassment of not being right or losing money if you're wrong, the the
628 |627 |01:04:40 ~-~-> 01:04:44 |peer pressure of other people saying you're not good enough, you're not the
629 |628 |01:04:44 ~-~-> 01:04:48 |right sex to be trading. Only guys can do it good. You know, all these things
630 |629 |01:04:48 ~-~-> 01:04:53 |can compound in your mind, and it can create and foster this self defeated
631 |630 |01:04:53 ~-~-> 01:04:57 |mindset. And it's real easy to talk yourself out of a good thing and into a
632 |631 |01:04:57 ~-~-> 01:05:01 |scary situation that really isn't scary, but you've. Convince yourself that it is
633 |632 |01:05:02 ~-~-> 01:05:08 |and that headiness of fear and anxiety comes over top of you, and nobody as
634 |633 |01:05:08 ~-~-> 01:05:13 |good as I am, I can't function if I lose my train of thought, if I get stressed
635 |634 |01:05:13 ~-~-> 01:05:23 |out. Perfect example, 911 I was stuck in a huge position in the s, p, and I was
636 |635 |01:05:23 ~-~-> 01:05:31 |teaching an individual how to trade through Internet Relay Chat. His name
637 |636 |01:05:31 ~-~-> 01:05:37 |was George Lux, and he's a photographer. He lived in Virginia. I don't know if he
638 |637 |01:05:37 ~-~-> 01:05:41 |still lives there now, but that's an inversion. I'm sorry, not inverse. I'd
639 |638 |01:05:41 ~-~-> 01:05:44 |say institutional info entry trail right there on the one minute chart.
640 |639 |01:05:50 ~-~-> 01:05:59 |I came back from taking my son Cody, to school, and when I came in, the TV had
641 |640 |01:05:59 ~-~-> 01:06:03 |the airplane. First airplane had hit it. I thought it was a movie, and I wasn't
642 |641 |01:06:03 ~-~-> 01:06:07 |upset by that, because I thought I was just watching commercial. And then when
643 |642 |01:06:07 ~-~-> 01:06:13 |I watched the second plane hit, that was, that was my first real panic
644 |643 |01:06:13 ~-~-> 01:06:18 |attack. I was like, Where are my kids? Where's my wife? Like, I wanted
645 |644 |01:06:18 ~-~-> 01:06:23 |everybody home immediately, and I couldn't get out of they didn't open the
646 |645 |01:06:23 ~-~-> 01:06:28 |market up that day. And I was stressed about that, and it was just a terrible
647 |646 |01:06:28 ~-~-> 01:06:39 |feeling. I've had smaller incidents, or I bet a lot of money, and it didn't
648 |647 |01:06:39 ~-~-> 01:06:43 |perform it like I wanted it to, or it moved like I would try to trade ahead of
649 |648 |01:06:43 ~-~-> 01:06:46 |the CPI numbers and the PPI numbers and fomcs and the Non Farm Payroll. And I
650 |649 |01:06:46 ~-~-> 01:06:50 |would do very large bets, not fearful of it at all. But then as soon as it would
651 |650 |01:06:50 ~-~-> 01:06:55 |be repriced against me, I would that's that's gone, if the money's gone, and
652 |651 |01:06:55 ~-~-> 01:07:00 |I'm dealing with that anxiety, that panic, and I would sit there and try to
653 |652 |01:07:00 ~-~-> 01:07:06 |wrestle through it. And instead of saying, Okay, it's happened, I'm not
654 |653 |01:07:06 ~-~-> 01:07:13 |dead, it's just money, and I did it wrong. So there is no emergency. It's
655 |654 |01:07:13 ~-~-> 01:07:17 |just like anything else, you go to a doctor, you get a shot, not that shot
656 |655 |01:07:17 ~-~-> 01:07:21 |that everybody's probably regretting now, but the point is, you get an
657 |656 |01:07:21 ~-~-> 01:07:27 |injection of something, some kind of, you know, medicine you need. It only
658 |657 |01:07:27 ~-~-> 01:07:33 |hurts for a second. But my wife, she has terrible anxiety around IVs and whatnot,
659 |658 |01:07:33 ~-~-> 01:07:42 |and I have no anxiety over that stuff, the level of fear and FOMO that you're
660 |659 |01:07:42 ~-~-> 01:07:47 |going to feel is going to be directly related to the expectations that you
661 |660 |01:07:47 ~-~-> 01:07:54 |hold over yourself if you want extremely high output and results. And you're not
662 |661 |01:07:54 ~-~-> 01:07:59 |equipped with a model. You're not equipped to have a well rounded model
663 |662 |01:07:59 ~-~-> 01:08:03 |that you can anticipate seeing and forming. And you know when it usually
664 |663 |01:08:03 ~-~-> 01:08:07 |forms. What time of day does it form? How does it behave in price action? If
665 |664 |01:08:07 ~-~-> 01:08:11 |you don't have those things, your anxiety is going to be through the roof.
666 |665 |01:08:12 ~-~-> 01:08:15 |And if you're good at hiding it, and you're on social media, you know that's
667 |666 |01:08:15 ~-~-> 01:08:19 |terrible too, because you're lying to yourself. The people online, they not
668 |667 |01:08:19 ~-~-> 01:08:26 |feel what you're feeling, but you're feeling so institutional overflow entry
669 |668 |01:08:26 ~-~-> 01:08:32 |here on the one minute chart. Watch this little section right in here. It's all
670 |669 |01:08:32 ~-~-> 01:08:37 |part of this move here. I'd like to see the second lower half of that keep price
671 |670 |01:08:37 ~-~-> 01:08:42 |at bay, see if it stays heavy, and then we can see if it runs down into the mid
672 |671 |01:08:42 ~-~-> 01:08:42 |gap. But if
673 |672 |01:08:49 ~-~-> 01:08:55 |you want me to do a video, I can do a very short video on how to manage
674 |673 |01:08:55 ~-~-> 01:09:02 |anxiety and stress while in trades or in trading. It's very, very useful
675 |674 |01:09:02 ~-~-> 01:09:08 |information. I just don't, I don't have another person out there I can point to
676 |675 |01:09:08 ~-~-> 01:09:13 |and say, go watch this guy or gal. It's a collection of things I learned things
677 |676 |01:09:13 ~-~-> 01:09:20 |from a woman named Lucinda Bassett, attacking anxiety. I bought her her
678 |677 |01:09:20 ~-~-> 01:09:24 |whole course, it was kind of expensive back in the day, but you didn't read her
679 |678 |01:09:24 ~-~-> 01:09:27 |book. You can go to library actually and get it now. You have to pay for it. But
680 |679 |01:09:27 ~-~-> 01:09:33 |the the information and the coping skills learn I learned in that book
681 |680 |01:09:33 ~-~-> 01:09:39 |helped me know that there was a way out of living with it. But when you start
682 |681 |01:09:39 ~-~-> 01:09:44 |putting yourself in high stressful conditions, like trading like it is,
683 |682 |01:09:44 ~-~-> 01:09:48 |like it's bound to happen, and you may not even realize that it's anxiety. You
684 |683 |01:09:48 ~-~-> 01:09:54 |just feel overwhelmed and it's terrifying the first few times that it
685 |684 |01:09:54 ~-~-> 01:09:58 |happens, the very first time, you feel like you're dying, and then the second
686 |685 |01:09:58 ~-~-> 01:10:01 |time, feels like this is going to be worse. And the other time it happened,
687 |686 |01:10:01 ~-~-> 01:10:06 |and that feeds that whole experience. It makes it worse. It's a terrible thing to
688 |687 |01:10:06 ~-~-> 01:10:10 |live with it. I lived with it for a long time, and it developed into agoraphobia.
689 |688 |01:10:10 ~-~-> 01:10:17 |I was afraid to have any stimuli around me. It made me close up in it. It caused
690 |689 |01:10:17 ~-~-> 01:10:23 |my relationship as a as a father and a husband. It was. It was horrible, very,
691 |690 |01:10:23 ~-~-> 01:10:28 |very horrible watching that 15 second chart. Here. We got institutional,
692 |691 |01:10:28 ~-~-> 01:10:31 |artful entry drill here. And mid gap is down here. Then again, that's this
693 |692 |01:10:31 ~-~-> 01:10:39 |level. It's half of the gap. But set up this move from Friday's settlement price
694 |693 |01:10:39 ~-~-> 01:10:44 |in the opening up here. See how we're using that upper quadrant level there.
695 |694 |01:10:46 ~-~-> 01:10:52 |So if everybody got here, closed in half, the gap worked it here went lower.
696 |695 |01:10:54 ~-~-> 01:10:59 |You hear any kind of anxiety in me describing it, any sense of dependency,
697 |696 |01:10:59 ~-~-> 01:11:05 |like I have to be right. No single stuff all the time, every single day, and when
698 |697 |01:11:05 ~-~-> 01:11:09 |you realize that these things can repeat, you know how to wait for the
699 |698 |01:11:09 ~-~-> 01:11:15 |setups to form. And you control yourself. You don't try to predict the
700 |699 |01:11:15 ~-~-> 01:11:19 |euphoric moment of when it gets to your target. You just let it do what it's
701 |700 |01:11:19 ~-~-> 01:11:23 |going to do, because until the trade closes in in your favor. You're not
702 |701 |01:11:23 ~-~-> 01:11:27 |You're not profitable. You're not technically, quote, unquote, right? So
703 |702 |01:11:27 ~-~-> 01:11:31 |trying to live in that moment where you're watching a level that you're
704 |703 |01:11:31 ~-~-> 01:11:38 |hoping it gets, to try not to live in that moment ahead of its delivery.
705 |704 |01:11:38 ~-~-> 01:11:41 |Because what you're trying to do is, is you're trying to escape the
706 |705 |01:11:41 ~-~-> 01:11:44 |uncomfortable uncertainty of, is it really going to go where I want it to
707 |706 |01:11:44 ~-~-> 01:11:49 |go? You have to be indifferent to it. You got to just relax and let it go
708 |707 |01:11:49 ~-~-> 01:11:53 |where it's going to go. That way, if it's going to give you indications that
709 |708 |01:11:53 ~-~-> 01:11:57 |it's not going to go, you're going to be more receptive to it. You'll be able to
710 |709 |01:11:57 ~-~-> 01:12:04 |see that versus hoping and praying and panic and just, it's a it's torment. Is
711 |710 |01:12:04 ~-~-> 01:12:08 |what it is when you're in a winning trade and you don't have a model that's
712 |711 |01:12:08 ~-~-> 01:12:13 |torment. And if you've ever had a time where you made money, either trading
713 |712 |01:12:13 ~-~-> 01:12:19 |real money or a demo account and or a funded account, challenge or funded
714 |713 |01:12:19 ~-~-> 01:12:24 |account, any any, any degree of where your outcome is being measured for the
715 |714 |01:12:24 ~-~-> 01:12:30 |basis of being right or wrong, with monetary reward or clout associated to
716 |715 |01:12:30 ~-~-> 01:12:36 |it. You have the vested interest in being right at the end of it, and your
717 |716 |01:12:36 ~-~-> 01:12:42 |target, your your take profit, is that report card. It's the measurement of you
718 |717 |01:12:42 ~-~-> 01:12:50 |being correct, and if you hold your trades to that measurement every single
719 |718 |01:12:50 ~-~-> 01:12:54 |time while you're in them, versus is the market doing everything that would allow
720 |719 |01:12:54 ~-~-> 01:13:00 |me to trust this continuing? That's what you're constantly feeding yourself. Is
721 |720 |01:13:00 ~-~-> 01:13:06 |it doing everything that is indicating that it would still be okay, despite it
722 |721 |01:13:06 ~-~-> 01:13:10 |not going as quickly as I would like to see it go to because that's a part of
723 |722 |01:13:10 ~-~-> 01:13:16 |development that's very, very hard to articulate as a as a teacher, is letting
724 |723 |01:13:16 ~-~-> 01:13:22 |the trade pan out and not wrestling with it, not trying to force. I gotta just
725 |724 |01:13:22 ~-~-> 01:13:26 |get I wish it would just let me get my target, because I can get away from
726 |725 |01:13:26 ~-~-> 01:13:30 |this. I'm worn out because you don't have to manage yourself. You're
727 |726 |01:13:30 ~-~-> 01:13:36 |discovering that you aren't equipped to be trading with the outcome being so
728 |727 |01:13:36 ~-~-> 01:13:40 |impactful, it takes money from you if you're wrong. But you don't know what it
729 |728 |01:13:40 ~-~-> 01:13:45 |feels like to be on a trade where you're actually winning, because you don't know
730 |729 |01:13:45 ~-~-> 01:13:48 |why the trade's winning. And you're afraid to get it out of it. And you're
731 |730 |01:13:48 ~-~-> 01:13:54 |afraid that if you get out at your take profit, what if it goes more or what if
732 |731 |01:13:54 ~-~-> 01:13:58 |it goes against me right now, and I could close it when I'm up $3,000 or
733 |732 |01:13:58 ~-~-> 01:14:02 |whatever the amount would be. So when you have these things going through your
734 |733 |01:14:02 ~-~-> 01:14:06 |mind, they're all distractions. That's exactly what a neophyte is experiencing.
735 |734 |01:14:06 ~-~-> 01:14:10 |A neophyte is always worried about the things that they shouldn't be worried
736 |735 |01:14:10 ~-~-> 01:14:15 |about, instead of focusing on the things that they should be, which is watching
737 |736 |01:14:15 ~-~-> 01:14:20 |price. Is it behaving? Is it supporting an underlying narrative that puts you in
738 |737 |01:14:20 ~-~-> 01:14:23 |the trade? Now, if you start at square one, where you don't have a model, you
739 |738 |01:14:23 ~-~-> 01:14:26 |just impulsively chase the price, then you shouldn't be surprised that you have
740 |739 |01:14:26 ~-~-> 01:14:29 |anxiety. You shouldn't be surprised if you're uncomfortable being in the trade
741 |740 |01:14:29 ~-~-> 01:14:31 |because you don't know what you're looking for. You don't know what you're
742 |741 |01:14:31 ~-~-> 01:14:34 |waiting for. You're not looking for anything that you've measured in the
743 |742 |01:14:34 ~-~-> 01:14:40 |past. So why should you have any surprise about why you're feeling
744 |743 |01:14:40 ~-~-> 01:14:44 |uncertainty that's now turned into an adrenaline release, and then now
745 |744 |01:14:44 ~-~-> 01:14:50 |cortisol released, and you're in full blown panic, which paralyzes you. You
746 |745 |01:14:50 ~-~-> 01:14:55 |ever have that? It's called the gambler's numbness, you've lost a lot of
747 |746 |01:14:55 ~-~-> 01:14:59 |money, you're at the verge of blowing your account. You're blowing your fund
748 |747 |01:14:59 ~-~-> 01:15:06 |to. Account, yeah, or you just did, and if you had more money in the account,
749 |748 |01:15:06 ~-~-> 01:15:13 |you'd still trade again and not feel anything. That's a terrible experience
750 |749 |01:15:13 ~-~-> 01:15:19 |to begin, because you completely unplugged. The rational thinking part of
751 |750 |01:15:19 ~-~-> 01:15:23 |you is just like you're it's almost like being catatonic. You just, you're just
752 |751 |01:15:23 ~-~-> 01:15:27 |pushing the button. You don't care where the outcome is. You just feel like you
753 |752 |01:15:27 ~-~-> 01:15:31 |have to push the button. That's insanity. As a trader, I've experienced
754 |753 |01:15:31 ~-~-> 01:15:35 |that a lot as a 20 year old, I was in shell shock when I lost lots of money
755 |754 |01:15:35 ~-~-> 01:15:40 |that I didn't have. I didn't have that kind of money. I had to work very hard
756 |755 |01:15:40 ~-~-> 01:15:43 |to get these things scraped up, to put into those accounts, and when I blew
757 |756 |01:15:43 ~-~-> 01:15:53 |them, it was, it was bad. It was really bad. And I didn't have the skills I have
758 |757 |01:15:53 ~-~-> 01:16:00 |now. I don't, I don't have the ability to to wrestle into subjection, the the
759 |758 |01:16:00 ~-~-> 01:16:04 |intrusive thoughts, the what if thinking, what if it does this? And what
760 |759 |01:16:04 ~-~-> 01:16:10 |if it does that? If you don't have your model defined, and you don't know what
761 |760 |01:16:10 ~-~-> 01:16:15 |makes that trade setup viable, why should it form where you expect it to go
762 |761 |01:16:15 ~-~-> 01:16:19 |in take a trade? Why should it even be doing any of that stuff, if you don't
763 |762 |01:16:19 ~-~-> 01:16:25 |have experience collecting that information, that data, by watching old
764 |763 |01:16:25 ~-~-> 01:16:30 |price moves that have already completed, getting a large collection of that
765 |764 |01:16:30 ~-~-> 01:16:35 |Caleb, and that's what we're doing when we do these end of the day observations.
766 |765 |01:16:35 ~-~-> 01:16:40 |I'm annotating the chart with what I see and what I've watched with real time
767 |766 |01:16:40 ~-~-> 01:16:44 |price action. These are things that I was measuring and looking at as price
768 |767 |01:16:44 ~-~-> 01:16:50 |was delivering, because that's how I read price. I want you as my son to
769 |768 |01:16:50 ~-~-> 01:16:55 |learn how to do it that way. Now you're going to have your own little things in
770 |769 |01:16:55 ~-~-> 01:16:58 |all the things that I'm annotating, and your eyes going to jump to something
771 |770 |01:16:58 ~-~-> 01:17:03 |that says that's the setup that I feel I can see it easy, like I can see it
772 |771 |01:17:03 ~-~-> 01:17:08 |forming. I can see it developing all the time, and it has these same
773 |772 |01:17:08 ~-~-> 01:17:13 |characteristics that repeat over and over again. When you have that, that's
774 |773 |01:17:13 ~-~-> 01:17:18 |an epiphany, that's an aha moment, that's a I see something I've never saw
775 |774 |01:17:18 ~-~-> 01:17:22 |there before, and it's exciting. And whatever that is, for any of you
776 |775 |01:17:22 ~-~-> 01:17:26 |listening, that's where you first start. You start there. We're inside that
777 |776 |01:17:26 ~-~-> 01:17:31 |little inefficiency here. I like to see invert inversion. I like to see it
778 |777 |01:17:31 ~-~-> 01:17:35 |create a institutional order for entry to which is a partial fill that and then
779 |778 |01:17:35 ~-~-> 01:17:44 |dump down into the mid gap the It's very liberating when you have number one,
780 |779 |01:17:44 ~-~-> 01:17:48 |control over yourself, and that is going to be acquired by you having a model
781 |780 |01:17:48 ~-~-> 01:17:53 |that you've seen in old moves that repeats over and over and over again.
782 |781 |01:17:54 ~-~-> 01:17:58 |Now it may not form every single day for you. You may not be able to find it
783 |782 |01:17:58 ~-~-> 01:18:07 |every single day, but if it happens three times, four times a week, that's a
784 |783 |01:18:07 ~-~-> 01:18:10 |wonderful model. But if you work in these lower time frames, which is kind
785 |784 |01:18:10 ~-~-> 01:18:15 |of like what I'm forcing Caleb's perspective today with, is that there's
786 |785 |01:18:15 ~-~-> 01:18:20 |lots of opportunities, and you need not chase price. You need not chase the
787 |786 |01:18:20 ~-~-> 01:18:25 |expensive, premium pricing that they are throwing to the public. They're
788 |787 |01:18:25 ~-~-> 01:18:29 |literally just throwing slop out there into the open mouths of just retail
789 |788 |01:18:29 ~-~-> 01:18:33 |traders that just simply say, you know, it's probably going to keep going up,
790 |789 |01:18:33 ~-~-> 01:18:36 |bro, like, I gotta buy it. I'm not trying to do that. I don't want to do
791 |790 |01:18:36 ~-~-> 01:18:41 |that. It doesn't make any sense for me to pay extra money for something I can
792 |791 |01:18:41 ~-~-> 01:18:42 |often get cheaper.
793 |792 |01:18:44 ~-~-> 01:18:47 |And I only have that understanding is because I've been doing this for a very
794 |793 |01:18:47 ~-~-> 01:18:53 |long time. I've collected lots of charts, I've annotated charts, and I did
795 |794 |01:18:53 ~-~-> 01:18:56 |lots of back testing. I did lots of forward, walk testing and tape reading
796 |795 |01:18:56 ~-~-> 01:19:01 |without pushing any buttons. And then I did demoing paper trading for a long,
797 |796 |01:19:01 ~-~-> 01:19:04 |long time, which was back in the day where I would just simply write down I
798 |797 |01:19:04 ~-~-> 01:19:08 |got in hypothetically at this price on a piece of graph paper, and then where the
799 |798 |01:19:08 ~-~-> 01:19:13 |highest, high and the lowest was I would do, what my drawdown would be, and then
800 |799 |01:19:13 ~-~-> 01:19:18 |what my profit target would be, how long it took me to do that, and I can. I
801 |800 |01:19:18 ~-~-> 01:19:23 |conditioned myself that way. You have all these resources of doing demo
802 |801 |01:19:23 ~-~-> 01:19:28 |trading. I didn't have that when I first came up. Everything was antiquated and
803 |802 |01:19:28 ~-~-> 01:19:32 |archaic, and everything was written down and scribbled in. And you have the
804 |803 |01:19:32 ~-~-> 01:19:41 |dynamic privileges, really, that people like myself, where we would hand draw
805 |804 |01:19:41 ~-~-> 01:19:47 |our charts like we had that was our only alternative, like they until they came
806 |805 |01:19:47 ~-~-> 01:19:52 |up with things like, you know, super charts and meta stock and things like
807 |806 |01:19:52 ~-~-> 01:19:56 |that, everybody did one way, which was they made their own charts. They drew it
808 |807 |01:19:56 ~-~-> 01:20:01 |out on graph paper, or they subscribed to services like. Price charts and or
809 |808 |01:20:01 ~-~-> 01:20:07 |CRV chart, and they gave you a chart book that had some of the data. But then
810 |809 |01:20:07 ~-~-> 01:20:11 |you are, then you're responsible to do the rest, all by yourself every single
811 |810 |01:20:11 ~-~-> 01:20:15 |day. And there you go. Here's your half gap. So is it happening in the first 30
812 |811 |01:20:15 ~-~-> 01:20:19 |minutes? No, but it did trade down to mid gap. Did it give a fair value gap in
813 |812 |01:20:19 ~-~-> 01:20:23 |institutional order flow entry drill, some kind of premium, I'm sorry, some
814 |813 |01:20:23 ~-~-> 01:20:27 |kind of, yeah, some kind of premium array to get short between this low and
815 |814 |01:20:27 ~-~-> 01:20:31 |the upper quadrant to get down to here. Yes, institutional overflow entry drill
816 |815 |01:20:31 ~-~-> 01:20:36 |there delivered. You're never going to be short of supply of setups once you
817 |816 |01:20:36 ~-~-> 01:20:42 |know what you're doing, folks, there's no reason, zero reason for you to have
818 |817 |01:20:42 ~-~-> 01:20:48 |any anxiety about missing moves, feeling anxious about chasing Christ when it was
819 |818 |01:20:48 ~-~-> 01:20:55 |doing all these things up here, everything was just a story time. Just
820 |819 |01:20:55 ~-~-> 01:21:00 |sit back and let it tell you what it's doing. Relax. Let it really prove that
821 |820 |01:21:00 ~-~-> 01:21:07 |it wants to take a run below the initial lows formed here. Now think about that.
822 |821 |01:21:07 ~-~-> 01:21:13 |How can I explain what I just did here in a book? I can't. That's why I'm
823 |822 |01:21:13 ~-~-> 01:21:20 |teaching a lot of lessons like this that cannot be articulated in a book. There's
824 |823 |01:21:20 ~-~-> 01:21:24 |no way that I could just give you what I just gave you here in a book, and you
825 |824 |01:21:24 ~-~-> 01:21:28 |get it, you can't you have to watch the candlesticks paint. You got to see what
826 |825 |01:21:28 ~-~-> 01:21:35 |it's doing on a 15 second chart. Remember, I saw y'all watching this up
827 |826 |01:21:35 ~-~-> 01:21:40 |in here. There's inefficiency and halfway part of that right there, that's
828 |827 |01:21:40 ~-~-> 01:21:44 |this, and we want to see it roll over and get heavy, go back. It's in a live
829 |828 |01:21:44 ~-~-> 01:21:52 |stream. Folks, I was not trying to be long today, and it's boring to me. And
830 |829 |01:21:52 ~-~-> 01:21:56 |that's not a brag, that's this, the facts. It's boring to me. I can sit out
831 |830 |01:21:56 ~-~-> 01:22:04 |here every single day and call every major move, every single one of them,
832 |831 |01:22:04 ~-~-> 01:22:08 |but not every single one of those moves are a trade that I want to put money on.
833 |832 |01:22:08 ~-~-> 01:22:12 |I don't want to trade just for the sake of trading. That's maturity. That's a
834 |833 |01:22:12 ~-~-> 01:22:17 |mindset that you should aspire to have. That means you have control of yourself.
835 |834 |01:22:17 ~-~-> 01:22:22 |You have a measure of self control that's alien to 99% of every trader,
836 |835 |01:22:22 ~-~-> 01:22:26 |even those have been trading profit for a long time. Because if you're a
837 |836 |01:22:26 ~-~-> 01:22:34 |successful trader, say, say, you can take down pretty big paydays. The
838 |837 |01:22:34 ~-~-> 01:22:39 |likelihood of you being a junkie and you're all hopped up on goofballs,
839 |838 |01:22:39 ~-~-> 01:22:43 |because you know, you can take big money, you can take it. So you're like a
840 |839 |01:22:43 ~-~-> 01:22:48 |big game hunter. You don't need to kill that animal. You don't need to go over
841 |840 |01:22:48 ~-~-> 01:22:52 |there and take down an elephant to eat it. You're not starving. You just want
842 |841 |01:22:52 ~-~-> 01:22:54 |to do it because you're hopped up on goofballs, because you're willing to
843 |842 |01:22:54 ~-~-> 01:22:58 |kill something like that, because you're psychopath. You want to do those types
844 |843 |01:22:58 ~-~-> 01:23:02 |of things. You, in my opinion, you're a murderer, and you're satisfying that
845 |844 |01:23:02 ~-~-> 01:23:11 |desire to do those types of things, but you probably still wrestle with this
846 |845 |01:23:11 ~-~-> 01:23:15 |impulsiveness of that you want to get a fix. You maybe have made, like, lots of
847 |846 |01:23:15 ~-~-> 01:23:18 |money. Maybe you don't need to trade ever again, like me, I don't, ever, I
848 |847 |01:23:18 ~-~-> 01:23:23 |don't, never, ever need to take a trade again. Ever money is not an issue for
849 |848 |01:23:23 ~-~-> 01:23:29 |me, but I love doing this. I love it my entire life, and now, because my son's
850 |849 |01:23:29 ~-~-> 01:23:33 |interest in it is like, I'm really like, I'm keyed up, like I'm ready to do it
851 |850 |01:23:33 ~-~-> 01:23:41 |clearly, because I want my son to do well, but it's very hard to understand
852 |851 |01:23:41 ~-~-> 01:23:47 |how to control yourself, because in the beginning, you might look at me, you
853 |852 |01:23:47 ~-~-> 01:23:51 |might look at other people, and whether they're taking trades live in front of
854 |853 |01:23:51 ~-~-> 01:23:55 |you, calling signals that work, or they have broker statements, or they won
855 |854 |01:23:55 ~-~-> 01:23:59 |competitions, whatever the catalyst may be that causes you to have Faith in this
856 |855 |01:23:59 ~-~-> 01:24:04 |individual, whatever that is, you don't have blind faith. And that's good.
857 |856 |01:24:05 ~-~-> 01:24:10 |That's good. Skepticism is absolutely crucial. Have it with me and have it
858 |857 |01:24:10 ~-~-> 01:24:14 |with everyone else, because if you just blindly follow the logic of anybody that
859 |858 |01:24:14 ~-~-> 01:24:19 |spouts out their mouth and you've never tested it, never back tested it, never
860 |859 |01:24:19 ~-~-> 01:24:23 |looked and investigated the claims of what this information should or should
861 |860 |01:24:23 ~-~-> 01:24:28 |not do. You're not really informed, and you're just basically blindly following
862 |861 |01:24:28 ~-~-> 01:24:31 |either what everybody else is says, Well, this is what you should do,
863 |862 |01:24:31 ~-~-> 01:24:36 |because I've seen it. I've seen him do this. I've seen her do that. Did you
864 |863 |01:24:36 ~-~-> 01:24:42 |ever see it? Did you ever sit through a full live stream where I've explained
865 |864 |01:24:42 ~-~-> 01:24:45 |the logic, why it shouldn't do these things, and why I'm not interested in
866 |865 |01:24:45 ~-~-> 01:24:51 |this, and what I'm waiting for, and then watch it pan out like today. Again, I do
867 |866 |01:24:51 ~-~-> 01:24:56 |this every single time, but because you want to signal, because you're new, you
868 |867 |01:24:56 ~-~-> 01:24:59 |just want to see. I want to see, I want to see ICT take a trade. I want to see
869 |868 |01:24:59 ~-~-> 01:25:03 |the. I'm if there's nothing for me to take a trade on, I'm not taking a trade
870 |869 |01:25:05 ~-~-> 01:25:11 |period if there's something in the price action that I want to call attention to
871 |870 |01:25:11 ~-~-> 01:25:17 |for the purposes of teaching my son, that's what I'm here primarily for. But
872 |871 |01:25:17 ~-~-> 01:25:21 |everything that's that's outlined to you happens in real time, right in front of
873 |872 |01:25:21 ~-~-> 01:25:25 |you, and you can't escape it. And it's for your edification. Caleb, it's for
874 |873 |01:25:25 ~-~-> 01:25:30 |you to understand that are you are you going into this to be in control of
875 |874 |01:25:30 ~-~-> 01:25:34 |yourself? Are you going to let the the ebb and flow of what the markets take
876 |875 |01:25:34 ~-~-> 01:25:38 |and give to you dictate how you're going to behave and how you're going to think?
877 |876 |01:25:38 ~-~-> 01:25:42 |Because if you're going to let them do that, you're going to be in a sea that
878 |877 |01:25:42 ~-~-> 01:25:47 |is nothing but storms and waves, and you're never going to be at peace. That
879 |878 |01:25:47 ~-~-> 01:25:50 |means you're never making enough money, you're not taking enough trades, you're
880 |879 |01:25:50 ~-~-> 01:25:53 |not risking enough because you're constantly doing what you're trying to
881 |880 |01:25:53 ~-~-> 01:26:02 |satisfy that itch that never is clinched. Contrast that with, I'm going
882 |881 |01:26:02 ~-~-> 01:26:06 |to wait for my setup that looks like this, and it forms around this basis.
883 |882 |01:26:07 ~-~-> 01:26:13 |What am I talking about? And I say that, well, what did I explain to you today?
884 |883 |01:26:13 ~-~-> 01:26:18 |We had a very large range gap opening. I'm already past my time, but let me see
885 |884 |01:26:18 ~-~-> 01:26:22 |if I can get them by 11 o'clock. I also know just let me take take a moment to
886 |885 |01:26:22 ~-~-> 01:26:25 |say this. And I appreciate all of you that have left the comments. Initially,
887 |886 |01:26:25 ~-~-> 01:26:28 |I thought you were just complaining to me, saying the video's too long and
888 |887 |01:26:28 ~-~-> 01:26:33 |blah, blah, blah, blah, I understand now why the specific requirements for some
889 |888 |01:26:33 ~-~-> 01:26:37 |of you that the video is not be too long, and plus, Caleb said it's, this is
890 |889 |01:26:37 ~-~-> 01:26:41 |a lot that like it's, it comes home from work. He doesn't have the ability to go
891 |890 |01:26:41 ~-~-> 01:26:46 |through all of them each day, so he's lagging behind. So because he said so,
892 |891 |01:26:46 ~-~-> 01:26:51 |that's why I'm pulling back the time. Also, in addition to, I wasn't aware
893 |892 |01:26:51 ~-~-> 01:26:57 |that YouTube doesn't do closed captions after the video goes over, like three
894 |893 |01:26:57 ~-~-> 01:27:02 |hours, or something to that effect. So I'm going to try to be diligent about
895 |894 |01:27:02 ~-~-> 01:27:07 |keeping them at 90 minutes or less, and you're welcome for that, but I wasn't
896 |895 |01:27:07 ~-~-> 01:27:11 |aware. Okay. If I would have known that the closed caption feature was being
897 |896 |01:27:11 ~-~-> 01:27:14 |impeded because of the length of the video, I would have stopped the stream
898 |897 |01:27:14 ~-~-> 01:27:18 |and started another one. It still would have been long, but I would have stopped
899 |898 |01:27:18 ~-~-> 01:27:20 |it. So it's not that I'm trying to make it harder for all of you that are in
900 |899 |01:27:20 ~-~-> 01:27:26 |other countries, I apologize. It was not something it's intended, but I I'm aware
901 |900 |01:27:26 ~-~-> 01:27:31 |of what it's doing and what it can't do, and it's a limitation I'm going to have
902 |901 |01:27:31 ~-~-> 01:27:36 |to operate in. So if we're limiting it to be done by 11 o'clock ICT, then it
903 |902 |01:27:36 ~-~-> 01:27:41 |should, it should answer that call. So, but today, I described to you that we
904 |903 |01:27:41 ~-~-> 01:27:48 |had that very large opening range gap here, which you have to you have to see
905 |904 |01:27:48 ~-~-> 01:27:54 |it with RTH, which is regular trading hours. I mean, I would have paid money
906 |905 |01:27:54 ~-~-> 01:27:59 |for a session like today. Like, you have no idea the stuff I put myself through.
907 |906 |01:27:59 ~-~-> 01:28:02 |It was ridiculous, but I didn't have any other choice, like there was nobody else
908 |907 |01:28:02 ~-~-> 01:28:06 |out there that had this information, or if they did, they weren't teaching it,
909 |908 |01:28:06 ~-~-> 01:28:12 |right? So, and I appreciate the folks that take the time to write a comment
910 |909 |01:28:12 ~-~-> 01:28:16 |and say, you know, I don't have to be doing this and I'm sharing it.
911 |910 |01:28:17 ~-~-> 01:28:21 |I really appreciate that, because the entitlement level today is off the
912 |911 |01:28:21 ~-~-> 01:28:26 |chain, and it's, it's disgusting to see how, dude, you talk too much, get to the
913 |912 |01:28:26 ~-~-> 01:28:29 |point like you're getting something you never would have learned before. And I'm
914 |913 |01:28:29 ~-~-> 01:28:33 |making millionaires with this information. They're using the same
915 |914 |01:28:33 ~-~-> 01:28:36 |logic, and you're, you're coming in on the comment section complaining about
916 |915 |01:28:36 ~-~-> 01:28:40 |how you want it better and faster and differently. Go somewhere else. But this
917 |916 |01:28:40 ~-~-> 01:28:44 |is the opening range gap, and since we opened up here, I told you we were going
918 |917 |01:28:44 ~-~-> 01:28:48 |to work inside that weekly inversion fair value gap. And you don't want to
919 |918 |01:28:48 ~-~-> 01:28:52 |try to pick the highs, because there was a lot of range where it could have went
920 |919 |01:28:52 ~-~-> 01:28:58 |up into mid part of that weekly inversion fair value gap, which is
921 |920 |01:28:58 ~-~-> 01:29:01 |essentially around here. So you got to let it prove to you that it's done
922 |921 |01:29:01 ~-~-> 01:29:07 |enough and break down. So we were watching this low here. It did so. And
923 |922 |01:29:07 ~-~-> 01:29:14 |then I gave you the framework about how this gap below this low here, I wanted
924 |923 |01:29:14 ~-~-> 01:29:21 |to see a premium array form between this low and this upper quadrant between this
925 |924 |01:29:21 ~-~-> 01:29:27 |little area right in here, that's where my setup would form. My PD array would
926 |925 |01:29:27 ~-~-> 01:29:33 |form in this area right here, institutional order, flow entry drill
927 |926 |01:29:36 ~-~-> 01:29:41 |over here. It breaks lower in that area, comes right back up in here. Boom. And I
928 |927 |01:29:41 ~-~-> 01:29:44 |told you, when we were right there, go watch the live stream during the 1030
929 |928 |01:29:45 ~-~-> 01:29:50 |ish to 1036 time I said I'm watching this right here. When I do that, that's
930 |929 |01:29:50 ~-~-> 01:29:53 |that, whenever I say when I'm watching something during the live streams,
931 |930 |01:29:54 ~-~-> 01:29:57 |that's a wonderful opportunity for you that are watching live, or when you
932 |931 |01:29:57 ~-~-> 01:30:01 |watch the old recording, stop and pause the video and. Screenshot that think
933 |932 |01:30:01 ~-~-> 01:30:08 |about what you see in price, what it might do after that moment. Caleb, and
934 |933 |01:30:08 ~-~-> 01:30:11 |you've got one of the best learning opportunities, because it's like, okay,
935 |934 |01:30:11 ~-~-> 01:30:15 |freeze frame, boom. Why is he interested? What should it do? And then,
936 |935 |01:30:15 ~-~-> 01:30:19 |like I said at that time, I said, we want to see it roll over from there and
937 |936 |01:30:19 ~-~-> 01:30:22 |stay heavy and work towards that in the gap. Does it? Do it? Look at the bodies.
938 |937 |01:30:23 ~-~-> 01:30:27 |Look at the bodies. How it behaved inside that little inversion Fairbank.
939 |938 |01:30:27 ~-~-> 01:30:31 |I'm sorry, am I not saying inverse Fairbank, the See that little volume
940 |939 |01:30:31 ~-~-> 01:30:37 |imbalance there. We have to make sure we keep that there as well. There's that
941 |940 |01:30:37 ~-~-> 01:30:44 |halfway point. That price is 18,005 83.75, 83.75 What's that? Candlesticks
942 |941 |01:30:44 ~-~-> 01:31:01 |high? Right there? 8250 84 84.75 so 1.1 handle above, that's only, that's the
943 |942 |01:31:01 ~-~-> 01:31:07 |only heat that had by watching that mid, mid level of that city, and it rolls
944 |943 |01:31:07 ~-~-> 01:31:11 |over. All live in front you, explain to you the logic. That's where the setup is
945 |944 |01:31:11 ~-~-> 01:31:15 |going to form. So tell me how you're going to do that with uh, white cough or
946 |945 |01:31:15 ~-~-> 01:31:18 |supplying demand. You don't know when your setups are going to form. You have
947 |946 |01:31:18 ~-~-> 01:31:21 |to wait for them. I know where my setups are going to form. I know what the
948 |947 |01:31:21 ~-~-> 01:31:24 |algorithm is going to do, how it's going to book price. I know all those things,
949 |948 |01:31:24 ~-~-> 01:31:28 |but I have to let it do its manipulation. I don't want to force
950 |949 |01:31:28 ~-~-> 01:31:33 |myself to be in something I told you. This is all building in a premium. It's
951 |950 |01:31:33 ~-~-> 01:31:36 |engineering liquidity. Every time it made a new high, someone's taking the
952 |951 |01:31:36 ~-~-> 01:31:41 |other side of that when it stops being taken. So buy stops above this high are
953 |952 |01:31:41 ~-~-> 01:31:45 |absorbed there shorts smart money are selling them that buy stop. And they're
954 |953 |01:31:45 ~-~-> 01:31:50 |buying a breakout retail who wants to be the other side of that smart money?
955 |954 |01:31:50 ~-~-> 01:31:54 |They're selling to those buy stops here and then above here, boom, they're
956 |955 |01:31:54 ~-~-> 01:31:58 |selling short to those buy stops. Again, all of this is building in a premium,
957 |956 |01:31:58 ~-~-> 01:32:04 |and they're selling it to the public. I'm waiting for it to get down to here,
958 |957 |01:32:04 ~-~-> 01:32:09 |to give the setup to trade down to the mid gap. And there it is, small little
959 |958 |01:32:09 ~-~-> 01:32:13 |retracement, digging down. So now you want to look at the lower quadrant, and
960 |959 |01:32:13 ~-~-> 01:32:16 |then I'm going to close the stream out. Okay, because I've overstayed my
961 |960 |01:32:16 ~-~-> 01:32:20 |welcome. Here's the lower quadrant. So you want to watch and see, does it trade
962 |961 |01:32:20 ~-~-> 01:32:28 |into that, that price level right here. But if you want to leave a comment, I
963 |962 |01:32:28 ~-~-> 01:32:32 |read every comment, even though you guys can't see them, I see them rude ones are
964 |963 |01:32:32 ~-~-> 01:32:36 |people that are just stupid. I just make you invisible to me. You think you're
965 |964 |01:32:36 ~-~-> 01:32:39 |leaving comments, and you'll see your comment, but I can't see them, and no
966 |965 |01:32:39 ~-~-> 01:32:43 |one else can see them, obviously. But if you want to see a video, I can't promise
967 |966 |01:32:43 ~-~-> 01:32:47 |I'll do it during the week. I might do it this coming weekend, if you all have
968 |967 |01:32:47 ~-~-> 01:32:51 |an interest in it. But if you want to learn how to manage your stress while in
969 |968 |01:32:51 ~-~-> 01:32:55 |trading, and how to keep yourself from having pain attacks, and also how to
970 |969 |01:32:55 ~-~-> 01:32:59 |keep yourself focused so it prevents adrenaline effect or cortisol effect,
971 |970 |01:33:00 ~-~-> 01:33:03 |these are all real things, and if you ever portrayed it long enough you felt
972 |971 |01:33:03 ~-~-> 01:33:07 |that you probably didn't understand it, but it's absolutely 100% controllable,
973 |972 |01:33:07 ~-~-> 01:33:13 |and you can be like a like a Buddh monk, like you're impervious to it, like
974 |973 |01:33:13 ~-~-> 01:33:19 |you're completely devoid of all of that anxiety and wood of thinking. And I
975 |974 |01:33:19 ~-~-> 01:33:23 |could probably do it in a 30 minute video. So it's not a lot, since it's a
976 |975 |01:33:23 ~-~-> 01:33:28 |lot of preparation, mindset wise, and some breathing techniques and things to
977 |976 |01:33:28 ~-~-> 01:33:32 |focus and how to how you are supposed to reset your nervous system. And it can be
978 |977 |01:33:32 ~-~-> 01:33:35 |done instantaneously, like, bang, just like that, like, it's instantly
979 |978 |01:33:35 ~-~-> 01:33:39 |corrected perfectly. And to me, in my opinion, I've been doing it for 32
980 |979 |01:33:39 ~-~-> 01:33:44 |years, and having gone through extreme anxiety, it is one of the most
981 |980 |01:33:44 ~-~-> 01:33:51 |worthwhile investments in discovering skill sets that any trader should have
982 |981 |01:33:51 ~-~-> 01:33:55 |in their repertoire, because you are going to feel stress. You're going to
983 |982 |01:33:55 ~-~-> 01:33:58 |feel stress in the trade, or you're going to feel afterwards when you lost a
984 |983 |01:33:58 ~-~-> 01:34:03 |lot of money, and if you focus on that stuff. It's going to mess you up, and
985 |984 |01:34:03 ~-~-> 01:34:09 |you won't progress further efficiently and correctly. So if you, like I said,
986 |985 |01:34:09 ~-~-> 01:34:13 |if you want to have something that, just give me a comment saying, Please, you
987 |986 |01:34:13 ~-~-> 01:34:17 |know, Lay it on me and I'll get to it probably either Sunday or Saturday.
988 |987 |01:34:17 ~-~-> 01:34:23 |Maybe I'll do a an audio kind of like a shotgun Saturday on on the YouTube
989 |988 |01:34:23 ~-~-> 01:34:26 |channel, because it's basically me just talking about those coping skills and
990 |989 |01:34:26 ~-~-> 01:34:31 |how to overcome anxiety and trading and all that. The real psychology behind it
991 |990 |01:34:32 ~-~-> 01:34:35 |that that's what that's really what it is I flirted with the idea of having,
992 |991 |01:34:35 ~-~-> 01:34:40 |you know, five books, you know, three technical ones, a fiction about a trader
993 |992 |01:34:40 ~-~-> 01:34:44 |that they may have heard, and then the fifth one was going to be flirted with.
994 |993 |01:34:44 ~-~-> 01:34:47 |The idea, I don't know. I'm not sure. We'll see how the books are received by
995 |994 |01:34:47 ~-~-> 01:34:52 |all of you, but the fifth one be would be like a trade psychology book, like
996 |995 |01:34:52 ~-~-> 01:34:59 |the nuts and bolts. Here's what matters most, and there it is. But I enjoyed it.
997 |996 |01:35:00 ~-~-> 01:35:03 |Have time with us together over the charts. Hopefully you learned something
998 |997 |01:35:03 ~-~-> 01:35:06 |today. It probably isn't going to be one of the barn burner type lectures or
999 |998 |01:35:06 ~-~-> 01:35:10 |whatever, but I promise you, once you start trading with real money and you
1000 |999 |01:35:10 ~-~-> 01:35:15 |feel all the problems that I talked about here, FOMO trying to chase price,
1001 |1000 |01:35:15 ~-~-> 01:35:19 |losing money, and anxiety attacks and stress and all that stuff, you're going
1002 |1001 |01:35:19 ~-~-> 01:35:22 |to appreciate this kind of video a whole lot more later on. In the beginning,
1003 |1002 |01:35:22 ~-~-> 01:35:25 |when you haven't even done anything to be stressed out, you just want me get to
1004 |1003 |01:35:25 ~-~-> 01:35:28 |the point. The point is, is you don't know the point. That's the point you
1005 |1004 |01:35:28 ~-~-> 01:35:32 |don't even know what you're doing it. And I'm trying to prepare your mind for
1006 |1005 |01:35:32 ~-~-> 01:35:40 |that. Caleb, and until talk to you next time, be safe. You.