ICT YT - 2024-09-27 - ICT 2024 Mentorship - Lecture 35
Last modified by Drunk Monkey on 2024-10-08 13:31
| 1 | 00:01:19 --> 00:01:25 | ICT: Good morning folks, Good morning. This is going to be doing an audio check |
| 2 | 00:01:25 --> 00:01:28 | here in a minute, trying to see If I can hear myself. |
| 3 | 00:01:38 --> 00:01:39 | Audio check one i |
| 4 | 00:02:01 --> 00:02:09 | i I'll go check two. Okay, yeah, we go. I can hear me. I can hear the woman, all |
| 5 | 00:02:09 --> 00:02:22 | right, so premium cap opening up here on the fifth minute time frame, you can see |
| 6 | 00:02:22 --> 00:02:30 | we we bumped this high. You see that here, and on a one minute chart |
| 7 | 00:02:42 --> 00:02:45 | I was telling my son, who is Good morning, Caleb. How are you? I'm doing |
| 8 | 00:02:45 --> 00:02:51 | great. Alright, that's pretty good venture. What's a map in it? Comment |
| 9 | 00:02:51 --> 00:02:59 | saying that there is no Caleb. There is no Caleb. Alright, so South side's been |
| 10 | 00:02:59 --> 00:03:03 | taken here. We want to see, does it have an interest to be rude further, or if it |
| 11 | 00:03:03 --> 00:03:12 | wants to bang around inside this range? Admittedly, I'm a little prepared. Let's |
| 12 | 00:03:12 --> 00:03:18 | say this way, I'm prepared for it to be a rather lackluster morning session. And |
| 13 | 00:03:18 --> 00:03:22 | I'll go into detail as to why I believe that once we get a little bit further |
| 14 | 00:03:22 --> 00:03:24 | into the opening range, right now it's 931 |
| 15 | 00:03:30 --> 00:03:39 | 930s city here, we're not factoring that. Caleb's got to use the first fair |
| 16 | 00:03:39 --> 00:03:46 | value gap that could only form as early as 931 so while, yes, we are aware that |
| 17 | 00:03:46 --> 00:03:58 | that's there, I'm teaching him to use the one that forms at 931 or later, for |
| 18 | 00:03:58 --> 00:04:05 | The folks that are comfortable with using the 15 second time frame. You may |
| 19 | 00:04:05 --> 00:04:13 | need that there's a gap here that's still inside the 930 minute. See, it's |
| 20 | 00:04:13 --> 00:04:16 | good to noted, but it's not what we're using today. Okay, okay. |
| 21 | 00:04:24 --> 00:04:27 | Right now. The left chart Caleb is one minute, but it's showing electronic |
| 22 | 00:04:27 --> 00:04:34 | trading hours, so that that time begins at 6pm Eastern Time, and it trades until |
| 23 | 00:04:34 --> 00:04:38 | 5pm close today, which closes the week, but also closes the session for one |
| 24 | 00:04:38 --> 00:04:43 | hour, if it was, if we traded on Saturday, which we don't it would reopen |
| 25 | 00:04:43 --> 00:04:48 | at six o'clock, but in this case, it's Friday. Electronic trading hours will |
| 26 | 00:04:48 --> 00:04:53 | close at 5pm today, and then won't open again until Sunday, 6pm Eastern time. |
| 27 | 00:04:54 --> 00:05:00 | But the regular trading hours here, we're. I |
| 28 | 00:05:05 --> 00:05:12 | was showing before the stream started, and they're all familiar with this, the |
| 29 | 00:05:12 --> 00:05:19 | 414 from yesterday to the first opening price here, there's 77 chance that the |
| 30 | 00:05:19 --> 00:05:21 | market will come back down and trade half gap. So that's consequence |
| 31 | 00:05:21 --> 00:05:26 | encroachment of the difference between yesterday's 414 settlement price, which |
| 32 | 00:05:26 --> 00:05:29 | is regular trading hours. And you always have to make sure you're looking at the |
| 33 | 00:05:29 --> 00:05:33 | right one in the morning at the opening bell, if there's a gap, you'll see it'll |
| 34 | 00:05:33 --> 00:05:38 | look totally different in terms of the chart on electronic trading hours. But |
| 35 | 00:05:38 --> 00:05:45 | the settlement price here the close to the opening price at 930 that's the |
| 36 | 00:05:45 --> 00:05:53 | opening range gap. Opening range is time between 9:30am to 10 o'clock AM. So that |
| 37 | 00:05:53 --> 00:05:59 | 30 minute interval, the algorithms use that as a kind of like a a preliminary |
| 38 | 00:05:59 --> 00:06:05 | range to establish number one, the first imbalance, initial highs and initial |
| 39 | 00:06:05 --> 00:06:10 | lows. And then you use that information to build a narrative on how the daily |
| 40 | 00:06:10 --> 00:06:15 | range will build, whether it be a bullish day or a bearish day. We're not |
| 41 | 00:06:15 --> 00:06:18 | trying to predict the closing price. I will be teaching you that. But it's not |
| 42 | 00:06:18 --> 00:06:22 | here today. It's not we're not in that yet. You have other things to worry |
| 43 | 00:06:22 --> 00:06:30 | about first, right? So we have that, and now I'm going to add to quadrant levels |
| 44 | 00:06:30 --> 00:06:36 | as well. And you simply just do this. So now you have the opening range gap |
| 45 | 00:06:36 --> 00:06:43 | levels. We can go back to electronic training hours. So now we have our |
| 46 | 00:06:46 --> 00:06:57 | kilos. Sell side's been taken. So there is buy side resting up here. |
| 47 | 00:07:02 --> 00:07:07 | Let's and |
| 48 | 00:07:12 --> 00:07:21 | we have minor cell side now at the load it's formed. So far on the one minute |
| 49 | 00:07:21 --> 00:07:30 | chart, we have no inefficient except for the 930 candle. Still useful, but for |
| 50 | 00:07:30 --> 00:07:35 | your model, you have to use the next one after that, 931 931 starts you're |
| 51 | 00:07:35 --> 00:07:41 | seeking of a fair value gap. You might think, Well, Dad, why don't I just use |
| 52 | 00:07:41 --> 00:07:45 | this one, right? Because it's there, well, because you're referring to the |
| 53 | 00:07:45 --> 00:07:49 | open range gap, and because there's a lot of volatility that can come into the |
| 54 | 00:07:49 --> 00:07:54 | marketplace because of a gap, or because the gap may not be that significant. It |
| 55 | 00:07:54 --> 00:08:02 | may be a small gap. In this case, we've had a little bit of a it's not a big |
| 56 | 00:08:02 --> 00:08:08 | gig. It's not a big gap. I would have rather had a larger gap between its low |
| 57 | 00:08:08 --> 00:08:13 | and its highs. In other words, yesterday's 415 or 414 settlement price |
| 58 | 00:08:13 --> 00:08:19 | on a one minute chart versus the 9/31 printed price. Today, we want something, |
| 59 | 00:08:19 --> 00:08:23 | ideally, more than 40 handles. I personally like something that's closer |
| 60 | 00:08:23 --> 00:08:31 | to 75 I know that the range is going to be very I mean, this is your this is |
| 61 | 00:08:31 --> 00:08:41 | your Fairbank out right there. Okay, so that's the one you would put out into |
| 62 | 00:08:41 --> 00:08:48 | the future with extending it into the right, and we'll just keep it gray for |
| 63 | 00:08:48 --> 00:08:48 | now. |
| 64 | 00:08:58 --> 00:09:04 | So today's Friday, and since we've had basically an up session every day this |
| 65 | 00:09:04 --> 00:09:12 | week, ttif is a factor, where I see these relative eco lows, that's your |
| 66 | 00:09:12 --> 00:09:13 | draw for sell side you |
| 67 | 00:09:39 --> 00:09:43 | Okay, now just be mindful, because I'm going to scroll the chart over so you're |
| 68 | 00:09:43 --> 00:09:48 | not going to see this. Just focus on the price action over here, but this right |
| 69 | 00:09:48 --> 00:09:54 | here, is what we're looking at. You understand? Yes, so because it's Friday, |
| 70 | 00:09:55 --> 00:10:04 | because we had a premium gap opening, because we have left. That gap to the |
| 71 | 00:10:04 --> 00:10:10 | downside and traded below it. It could be viewed as kind of like a an |
| 72 | 00:10:10 --> 00:10:17 | exhaustion gap, meaning that we gapped up there at the open of the session |
| 73 | 00:10:17 --> 00:10:24 | today, and then it it trades down, fills the gap, tries to rally, and then folds |
| 74 | 00:10:24 --> 00:10:30 | and goes lower. So we can now use the low of the gap as a means of treating |
| 75 | 00:10:30 --> 00:10:35 | like a fair value gap. In other words, if it trades back up into it, and it |
| 76 | 00:10:35 --> 00:10:41 | struggles to get into it in any degree, if it starts to roll over and trade |
| 77 | 00:10:41 --> 00:10:49 | lower. Then we can use a subsequent fair value gap, a very small short term swing |
| 78 | 00:10:49 --> 00:10:53 | high to be rated for, like a turtle suit, where it just goes and gets a |
| 79 | 00:10:53 --> 00:10:58 | short term liquidity and then bang and drops lower. TGIF, because we've had a |
| 80 | 00:10:58 --> 00:11:06 | up week all this week, 20% to 30% of the weekly range is usually what I like to |
| 81 | 00:11:06 --> 00:11:11 | see. It doesn't need to do it. If it doesn't do it today, then usually on |
| 82 | 00:11:11 --> 00:11:16 | Monday, you'll have some kind of a retracement into that previous week's |
| 83 | 00:11:16 --> 00:11:21 | range to amount of 20 to 30% Alright, so we're inside that fair value gap here, |
| 84 | 00:11:22 --> 00:11:27 | and scroll down to the setup running back into this gap here. You're going to |
| 85 | 00:11:27 --> 00:11:33 | study how it behaves here, from this fair value gap down to the liquidity |
| 86 | 00:11:33 --> 00:11:36 | that's been noted with these relatively cool lows right there. I'm |
| 87 | 00:11:50 --> 00:11:54 | the settlement price here, I'm gonna just put a box on it, because I want you |
| 88 | 00:11:54 --> 00:12:06 | to see the color difference in terms of, like, a range. And we'll do this. So |
| 89 | 00:12:06 --> 00:12:12 | what I did is I noted yesterday's 414, selling price up to today's opening |
| 90 | 00:12:12 --> 00:12:16 | price at 930 so when you're using record trading hours, it's not going to plot |
| 91 | 00:12:16 --> 00:12:21 | any of the price fluctuation between those two times. But when you go to |
| 92 | 00:12:21 --> 00:12:25 | electronic trading hours, you're going to see that there's been a lot of |
| 93 | 00:12:25 --> 00:12:30 | trading since there's, you know, it's been doing a whole lot more, right? So, |
| 94 | 00:12:30 --> 00:12:38 | because now we can see we we gapped open higher with this price on this |
| 95 | 00:12:38 --> 00:12:42 | candlestick here, and the low of that shaded pink area, that's the actual gap |
| 96 | 00:12:42 --> 00:12:49 | between yesterday's 940 I'm sorry, 4:14pm Eastern Time, settlement price to |
| 97 | 00:12:49 --> 00:12:57 | 930s opening price today. So that gap we we opened here, which is a premium, it's |
| 98 | 00:12:57 --> 00:13:01 | sold off, came back up and then left the gap. You see that? And then right here |
| 99 | 00:13:01 --> 00:13:05 | we hit it at the low of that pink shaded area. But it's also consequent |
| 100 | 00:13:05 --> 00:13:15 | encroachment of that first fair value gap of the day. See that? See what this |
| 101 | 00:13:15 --> 00:13:22 | camel stick right there, hitting it? Yes. Okay, so we would want to see, does |
| 102 | 00:13:22 --> 00:13:26 | it have the ability to want to or an interest to reprice down to the sell |
| 103 | 00:13:26 --> 00:13:32 | side from there? Because the the underlying dynamics are, it's Friday, |
| 104 | 00:13:33 --> 00:13:36 | it's been going up all week long. It's healthy for to go down there. Even if it |
| 105 | 00:13:36 --> 00:13:40 | wants to go higher, you can go down there and pick up this stops where they |
| 106 | 00:13:40 --> 00:13:46 | can buy from someone that wants to sell to them at a cheap discount price. So |
| 107 | 00:13:46 --> 00:13:49 | if, if they can see that there's relative equal lows down there, retail |
| 108 | 00:13:49 --> 00:13:54 | traders would see that as support. And we like to look for areas where we can |
| 109 | 00:13:54 --> 00:14:01 | scoop up sell stops or short buy stops. And if you start blending these things |
| 110 | 00:14:01 --> 00:14:06 | together, you can kind of like flesh out a narrative where not just one thing is |
| 111 | 00:14:06 --> 00:14:09 | leaning on the basis of why you're taking a trade or why you expect the |
| 112 | 00:14:09 --> 00:14:13 | price to move a specific way. There has to be at least three factors there. And |
| 113 | 00:14:13 --> 00:14:17 | one of the main things is time. There has to be a reason for it to move based |
| 114 | 00:14:17 --> 00:14:24 | on time. And if you trade outside of the trade setups that are not factoring |
| 115 | 00:14:24 --> 00:14:31 | heavily on the element of time, you can still get setups, but you're not going |
| 116 | 00:14:31 --> 00:14:36 | to get that institutional sponsorship that comes with the moves that usually |
| 117 | 00:14:36 --> 00:14:42 | are delivered by a time based mechanism, like the first 10 minutes before you get |
| 118 | 00:14:42 --> 00:14:47 | to the top of the hour. So 950, to 10 o'clock, that that 10 minute interval. |
| 119 | 00:14:47 --> 00:14:51 | And from 10 o'clock to 1010, that interval is 20 minutes an interval. So |
| 120 | 00:14:51 --> 00:14:58 | that's a macro so usually the algorithms will start firing off and it's spooling |
| 121 | 00:14:58 --> 00:15:05 | price to run to in. Inefficiency above or below the marketplace, or it's |
| 122 | 00:15:05 --> 00:15:08 | running to liquidity above an old high or relative equal highs, or below an |
| 123 | 00:15:08 --> 00:15:13 | over low or relative equal lows. So if you have these these expectations on |
| 124 | 00:15:13 --> 00:15:20 | what price may do around that specific time, even if you don't have a bias, you |
| 125 | 00:15:20 --> 00:15:25 | can go in and watch the first few minutes of the day, and then not all the |
| 126 | 00:15:25 --> 00:15:29 | time, and this is a skill set you'll develop as you do more of it, watching |
| 127 | 00:15:29 --> 00:15:35 | price and study, but you'll discover that you're learning how to discover the |
| 128 | 00:15:35 --> 00:15:39 | narrative for the morning session. You're not trying to predict daily |
| 129 | 00:15:39 --> 00:15:42 | candlestick right now, but you're just trying to get a feel for what is the |
| 130 | 00:15:42 --> 00:15:50 | most likely probable outcome, based on where we opened up at 930 relative to |
| 131 | 00:15:50 --> 00:15:56 | where we closed at 414, yesterday, PM, regular session hours. Where's the |
| 132 | 00:15:56 --> 00:16:00 | liquidity? Why should it be why should it be interested to go higher, or why |
| 133 | 00:16:00 --> 00:16:04 | should it be interest to go lower? What liquidity is there? Is it relative equal |
| 134 | 00:16:04 --> 00:16:08 | highs? There is there relative equal lows? There is there a large |
| 135 | 00:16:08 --> 00:16:12 | inefficiency above the market price, or is there a large inefficiency below the |
| 136 | 00:16:12 --> 00:16:20 | market price? So these are all questions that I ask myself. There's very specific |
| 137 | 00:16:20 --> 00:16:25 | things, and the times when you're watching price, where it is so heavily |
| 138 | 00:16:25 --> 00:16:30 | handed on one side of the marketplace, where it's hard to argue the position |
| 139 | 00:16:30 --> 00:16:35 | from a buyer's perspective or a short seller's perspective, if you can justify |
| 140 | 00:16:35 --> 00:16:38 | the trade or the idea what you think the market's going to do at the given time |
| 141 | 00:16:38 --> 00:16:42 | you're looking at the price, if you can justify on both sides of the spectrum |
| 142 | 00:16:42 --> 00:16:47 | being a buyer or seller, that's not high probability. Would you agree? Yeah, I |
| 143 | 00:16:47 --> 00:16:52 | would agree. So would it not be advantageous for you to focus on days |
| 144 | 00:16:52 --> 00:17:01 | and times when the market is presenting suggestions that the market would want |
| 145 | 00:17:01 --> 00:17:07 | to go lower, because less informed traders that use concepts like support |
| 146 | 00:17:07 --> 00:17:12 | and resistance if they see a level that's too smooth, above or below, it's |
| 147 | 00:17:12 --> 00:17:17 | natural to expect the orders below or above those odds, right? Or below those |
| 148 | 00:17:17 --> 00:17:23 | lows? Yes. So if we know that that's the case. We don't need a book math. We |
| 149 | 00:17:23 --> 00:17:27 | don't need any kind of application to kind of draw some special attention to |
| 150 | 00:17:27 --> 00:17:31 | it. We can clearly see and read the chart like anybody else would. But you |
| 151 | 00:17:31 --> 00:17:35 | have to put yourself in a position that a retail trader doesn't have. Most |
| 152 | 00:17:35 --> 00:17:40 | times, they don't have the perception of order flow. They don't look at things |
| 153 | 00:17:40 --> 00:17:49 | that are beyond the scope of support or resistance. Diagonal support, diagonal |
| 154 | 00:17:49 --> 00:17:55 | resistance, with with trend lines or some kind of pattern. And these classic |
| 155 | 00:17:55 --> 00:17:59 | chart patterns, while we can historically go back and see how they |
| 156 | 00:17:59 --> 00:18:05 | may have worked visually in certain instances, but that's not what causes |
| 157 | 00:18:05 --> 00:18:10 | price to do that. So if we can look for times when the retail trader is arm |
| 158 | 00:18:10 --> 00:18:20 | wrestling something, it's a little bit more, I guess, more real, like orders in |
| 159 | 00:18:20 --> 00:18:25 | the marketplace, why the market should trade so to a level, why? Like, there's |
| 160 | 00:18:25 --> 00:18:29 | nothing inherently bullish about a pennant pattern or a bull flag pattern, |
| 161 | 00:18:29 --> 00:18:33 | just because you see it rally up a little bit and it starts to consolidate, |
| 162 | 00:18:33 --> 00:18:38 | retail traders would see that as a bull flag. So it's getting go higher. But if |
| 163 | 00:18:38 --> 00:18:43 | the market's not predisposed, they want to go higher, because there's a resting |
| 164 | 00:18:43 --> 00:18:46 | pool of liquidity up there, and it's already done the damage. Below that bull |
| 165 | 00:18:46 --> 00:18:53 | flag, meaning that it's made the market jagged, if, if it's smooth, above that |
| 166 | 00:18:53 --> 00:18:57 | bull flag in price action, somewhere in close proximity, chances are that bull |
| 167 | 00:18:57 --> 00:19:01 | flag would probably deliver on the basis of what a retail trader would expect, |
| 168 | 00:19:01 --> 00:19:05 | because then they're finding themselves trading a pattern within the underlying |
| 169 | 00:19:06 --> 00:19:10 | order flow that price is going to submit to because it's running for the |
| 170 | 00:19:10 --> 00:19:13 | liquidity. It's not running because it sees a bull flag. It's not going to go |
| 171 | 00:19:13 --> 00:19:17 | up because there's a bull flag there, and vice versa. If there's something |
| 172 | 00:19:17 --> 00:19:21 | that's indicating that the market's likely to go lower just because there |
| 173 | 00:19:21 --> 00:19:24 | might be a bear flag or a pennant pattern or wedge pattern or a descending |
| 174 | 00:19:24 --> 00:19:31 | triangle, these are all classic perceived price patterns, and because |
| 175 | 00:19:31 --> 00:19:38 | that idea is prevalent in trading where and that started the same way reading |
| 176 | 00:19:38 --> 00:19:43 | these books, you think, wow, you know, it demystifies all of these Open, High, |
| 177 | 00:19:43 --> 00:19:49 | lows and close bars, which is what I was using when I first started. It gives you |
| 178 | 00:19:49 --> 00:19:52 | a rhyme or reason as to why you should do the very thing that I'm teaching my |
| 179 | 00:19:52 --> 00:19:57 | students to do the the slowest movement towards which is executing and pushing |
| 180 | 00:19:57 --> 00:20:03 | the button and retail. Is given lots of excuses to go in there and take trades. |
| 181 | 00:20:03 --> 00:20:07 | Just take trades, because look at all these things. These are reasons to get |
| 182 | 00:20:07 --> 00:20:12 | into a trade versus let's take a step back and think to ourselves, why would |
| 183 | 00:20:12 --> 00:20:18 | it what would be the underlying catalyst for that price pattern, to to see it |
| 184 | 00:20:18 --> 00:20:22 | unfold like that, just because you think you see it like a like a Rorschach, a |
| 185 | 00:20:22 --> 00:20:27 | Rorschach pattern. If you go to see a psychologist, they'll take a piece of |
| 186 | 00:20:27 --> 00:20:31 | paper, and they'll drop a drop of ink on it, and then they'll fold the paper in |
| 187 | 00:20:31 --> 00:20:35 | half, move it around a little bit, and then open it up, let it dry, and then |
| 188 | 00:20:35 --> 00:20:38 | they'll it'll, it'll be shown to a patient, and they'll say, what do you |
| 189 | 00:20:38 --> 00:20:44 | see? And whatever they want to manifest, whatever they're seeking internally, or |
| 190 | 00:20:44 --> 00:20:49 | whether they're fearful of they'll see that in that that Rorschach. It's a it's |
| 191 | 00:20:49 --> 00:20:54 | an ink blot. It's nothing to it, but it allows the psychologist or the the |
| 192 | 00:20:54 --> 00:20:57 | person that's doing an evaluation on them to get a baseline of how they |
| 193 | 00:20:57 --> 00:21:01 | internalize things. And whatever you internalize, you're going to you're |
| 194 | 00:21:01 --> 00:21:04 | going to materialize that in your decision making, in trading. So if you |
| 195 | 00:21:04 --> 00:21:11 | are a person that is constantly looking for something that is based on, like, |
| 196 | 00:21:11 --> 00:21:15 | gambler, like, they're going to look for, they're going to have a list of of |
| 197 | 00:21:16 --> 00:21:19 | things to get them into a trade. They're going to have a lot of things. They're |
| 198 | 00:21:19 --> 00:21:22 | going to be looking for every classic bullish pattern because they think I'm |
| 199 | 00:21:22 --> 00:21:25 | already going up, because they've been some kind of Reddit channel, or they've |
| 200 | 00:21:25 --> 00:21:28 | been in a telegram channel, or they watch my video, and they probably heard |
| 201 | 00:21:28 --> 00:21:31 | something that they think that I'm trying to give some some little message |
| 202 | 00:21:31 --> 00:21:35 | that, hey, look this time, devise time to sell. And they just now, okay, now |
| 203 | 00:21:35 --> 00:21:38 | they're keyed up. They're ready to be looking for that thing that gets them |
| 204 | 00:21:38 --> 00:21:43 | into something. And I fell victim to that a lot as a 20 year old like I, I |
| 205 | 00:21:44 --> 00:21:48 | unfortunately weaponized myself with all these poor excuses to get into a trade. |
| 206 | 00:21:48 --> 00:21:51 | And it has to be more to it, and |
| 207 | 00:21:55 --> 00:22:01 | we're inside half the gap. So if, if we're bearish on this is what you want |
| 208 | 00:22:01 --> 00:22:05 | to be looking at. Even though we went through the Fairbank gap, it's fine. I |
| 209 | 00:22:05 --> 00:22:08 | mentioned earlier. I said, you know, I think we're going to have a lackluster |
| 210 | 00:22:08 --> 00:22:12 | morning when we first started the session. But because we went back into |
| 211 | 00:22:12 --> 00:22:15 | that opening range gap, which is that shaded area, it's pink, we want to see |
| 212 | 00:22:15 --> 00:22:19 | it stay out of that upper portion. So this red level here, to this high up |
| 213 | 00:22:19 --> 00:22:23 | here, we don't want to see any of that. It can touch the consequent encroachment |
| 214 | 00:22:23 --> 00:22:28 | that wick or another wick can trade up there. But we don't want any bodies up |
| 215 | 00:22:28 --> 00:22:38 | there. So we want this is like a no like a no go zone, all this area right here, |
| 216 | 00:22:38 --> 00:22:47 | and we want to see that portion left alone. We don't want to see nothing up |
| 217 | 00:22:47 --> 00:22:53 | there if it's bearish. So how do you use this information? Well, if it starts to |
| 218 | 00:22:53 --> 00:22:57 | displace lower and leaves and gets below this fair value gap, I know |
| 219 | 00:23:02 --> 00:23:08 | these are not good choices of color, but the as long as it stays outside of this |
| 220 | 00:23:08 --> 00:23:12 | area here, it can wick into it. We just don't want to start seeing bodies laying |
| 221 | 00:23:12 --> 00:23:16 | down in this area, because then it makes it even more likely that the market's |
| 222 | 00:23:16 --> 00:23:22 | going to be indecisive. So by having these parameters. It says it's you're |
| 223 | 00:23:22 --> 00:23:25 | willing to let it trade up here and still hold the idea that it could |
| 224 | 00:23:25 --> 00:23:28 | potentially visit down here for the sell side, because it's TGIF Friday. Thank |
| 225 | 00:23:28 --> 00:23:32 | God it's Friday. That's what it means. And it means simply looking for a 20 to |
| 226 | 00:23:32 --> 00:23:35 | 30% retracement on the weekly range. So the highest high of the week to the |
| 227 | 00:23:35 --> 00:23:40 | lowest low of the week. You drop a fib on that. And what the 20% level is, |
| 228 | 00:23:40 --> 00:23:44 | that's what my objective is. Is that, see, do we have a reason to frame |
| 229 | 00:23:44 --> 00:23:48 | something technically to get to that level? And I'll show you what that is in |
| 230 | 00:23:48 --> 00:23:51 | a minute, but I just want to give you the foundations of what we're looking |
| 231 | 00:23:51 --> 00:24:02 | for. So in this gap here, right now, this is the framework that would be |
| 232 | 00:24:02 --> 00:24:10 | expected based on the fact that we didn't trade the upper half of that |
| 233 | 00:24:10 --> 00:24:15 | opening range gap. So because we haven't even touched the consequent |
| 234 | 00:24:15 --> 00:24:19 | encroachment, if we leave like we've done here, we leave that, come back up, |
| 235 | 00:24:19 --> 00:24:23 | you can touch that first fair value gap again, and it can be treated as an |
| 236 | 00:24:23 --> 00:24:30 | inversion. I'm sorry I did it again. This is why dad does not have the stuff |
| 237 | 00:24:30 --> 00:24:33 | on the charts when I'm trading. But because I'm describing it as I'm |
| 238 | 00:24:33 --> 00:24:38 | watching it, I made the mistake the other day, and I called a reclaimed, |
| 239 | 00:24:39 --> 00:24:43 | bullish fair value gap inversion fair Vega. And once I started talking about |
| 240 | 00:24:43 --> 00:24:47 | it, because I was live, I just kept going on with it, and I didn't realize |
| 241 | 00:24:47 --> 00:24:51 | until I went back in answering someone else's question, they didn't notice it. |
| 242 | 00:24:51 --> 00:24:56 | But when I saw I was like, Oh no, I did that wrong. So this weekend, on your |
| 243 | 00:24:56 --> 00:24:59 | channel, I'm going to make a small little presentation about that. But I. |
| 244 | 00:25:01 --> 00:25:05 | Because we had this down closed candle, and the market was going back up into |
| 245 | 00:25:05 --> 00:25:10 | it. That is a potential bearish, fair value gap, and we went above it here. |
| 246 | 00:25:11 --> 00:25:15 | But if we leave it See, I don't want to see it do that, while we did have the |
| 247 | 00:25:15 --> 00:25:18 | wick outside of it, the fact that we kept the body inside of it, that's |
| 248 | 00:25:18 --> 00:25:22 | exactly what I'm talking about. This is the very things I was mentioning when we |
| 249 | 00:25:22 --> 00:25:27 | first started the stream, that I have very low expectations, but I have to, |
| 250 | 00:25:27 --> 00:25:30 | because they're all listening, and you're learning too. My personal |
| 251 | 00:25:30 --> 00:25:34 | expectation is and the only thing that I would want to frame on a trade setup |
| 252 | 00:25:34 --> 00:25:38 | this morning would be a run into this area, even if it's bullish, even want to |
| 253 | 00:25:38 --> 00:25:42 | go higher on the day and keep going higher for the next couple weeks. It |
| 254 | 00:25:42 --> 00:25:45 | doesn't matter that this is still something that's reasonable to trade |
| 255 | 00:25:45 --> 00:25:49 | down into, and it's actually beneficial for it to go down there if it's going to |
| 256 | 00:25:49 --> 00:25:54 | go longer term, because it's going down here to pick up more orders that smart |
| 257 | 00:25:54 --> 00:25:58 | money could buy at a really deep discount relative to where we opened up |
| 258 | 00:25:58 --> 00:26:04 | today, because we opened up here at this price, and as long we stay in the lower |
| 259 | 00:26:04 --> 00:26:08 | half down here, that's fine, that this narrative is still potentially there. |
| 260 | 00:26:08 --> 00:26:12 | But just because it's still potentially there doesn't mean that's or inside the |
| 261 | 00:26:12 --> 00:26:15 | fair value gap. The first fairway got, why aren't you going short, like you're |
| 262 | 00:26:15 --> 00:26:18 | fighting Okay, Dad, you're in the fairway got, why aren't you chicken |
| 263 | 00:26:18 --> 00:26:22 | short? Why aren't you selling it there? Because I want to see it displaced below |
| 264 | 00:26:22 --> 00:26:28 | it, leave a body closed away from it. And that imbalance I want to see, does |
| 265 | 00:26:28 --> 00:26:33 | it go back up into it and touch it again, like trade up in the bottom of |
| 266 | 00:26:33 --> 00:26:37 | it, and then I would expect it to trade lower. Or, if you want to be very, very |
| 267 | 00:26:37 --> 00:26:41 | conservative, you can wait for it to do like it's doing here. It needs to close |
| 268 | 00:26:41 --> 00:26:47 | away from the below of that, that Fairey got me darkened up because there you go. |
| 269 | 00:26:47 --> 00:26:51 | So I know these chart colors are not making everybody happy right now, but I |
| 270 | 00:26:51 --> 00:26:55 | don't give a I have to be able to talk about it while I'm doing so now we have |
| 271 | 00:26:55 --> 00:26:59 | a smaller imbalance right there. I would like to see this candlestick not come |
| 272 | 00:26:59 --> 00:27:04 | back up to it yet, not yet. I want to see it close, leave that open, and then |
| 273 | 00:27:04 --> 00:27:08 | if it starts to drop away from that, that means this could be a breakaway |
| 274 | 00:27:08 --> 00:27:11 | gap. You'll see, that's okay. I don't like that, but now we need to see it |
| 275 | 00:27:11 --> 00:27:16 | displaced from there once, if it does it, you turn your attention over to the |
| 276 | 00:27:16 --> 00:27:20 | 15 second chart, and then the very first fair value gap that farms over here, |
| 277 | 00:27:20 --> 00:27:23 | once it trades back up into it, that could be a catalyst for you to get into |
| 278 | 00:27:23 --> 00:27:29 | a move, to write it down into the sell side. Here. Do you see what this did I |
| 279 | 00:27:29 --> 00:27:35 | work from one time frame, building what, what my expectation would be based on |
| 280 | 00:27:36 --> 00:27:41 | very specific parameters. It's, what do you wait for? ICT, what are you waiting |
| 281 | 00:27:41 --> 00:27:44 | for? What are you looking for? What is it that you're expecting to see? And how |
| 282 | 00:27:44 --> 00:27:48 | can I find that setups that are going to be a little bit more favorable versus |
| 283 | 00:27:48 --> 00:27:52 | just picking the first fair value gap? Because now everybody thinks they have a |
| 284 | 00:27:52 --> 00:27:56 | secret weapon, because I taught them to find the first fair value gap in their |
| 285 | 00:27:56 --> 00:27:59 | opening range. So while it's great and they can see it in hindsight, they're |
| 286 | 00:27:59 --> 00:28:03 | still probably scared shitless about how to get, how to get into it. And then you |
| 287 | 00:28:03 --> 00:28:06 | have the goobers that will say, Well, look, it runs through it. Yeah, it's |
| 288 | 00:28:07 --> 00:28:11 | going to do that, but you have to wait for time. And we're inside the macro |
| 289 | 00:28:11 --> 00:28:20 | now, 957, here. We're inside the time element of it, and you're blending the |
| 290 | 00:28:20 --> 00:28:24 | first time. So the the market should start schooling. That means it's going |
| 291 | 00:28:24 --> 00:28:30 | to run it's not directional. It just means it's going to run higher or lower. |
| 292 | 00:28:30 --> 00:28:36 | So how do you determine the direction? Well, we open up high at the 930 price |
| 293 | 00:28:36 --> 00:28:41 | here, relative to yesterday's, 414 so when the public sees that. They say, |
| 294 | 00:28:41 --> 00:28:44 | wow, we're higher than when we closed yesterday. It's bullish. Let me buy it |
| 295 | 00:28:44 --> 00:28:51 | and chase it. Professionals, they want to see it do what settle into that gap, |
| 296 | 00:28:51 --> 00:28:55 | and then the real picture will happen. It'll give you more insights about what |
| 297 | 00:28:55 --> 00:29:00 | the market will likely do. So by having an expectation on what the retail |
| 298 | 00:29:00 --> 00:29:05 | perspective trader will think, if we know that these relative equal lows down |
| 299 | 00:29:05 --> 00:29:15 | here are too obvious. There's there's resting orders down I don't need a depth |
| 300 | 00:29:15 --> 00:29:18 | of market. I don't need a ladder. I don't need a book map. I don't need any |
| 301 | 00:29:18 --> 00:29:22 | kind of these, these gimmicks that people are leaning on right now, and |
| 302 | 00:29:22 --> 00:29:26 | it's good that they have something to go by, but you don't need that. You know, |
| 303 | 00:29:26 --> 00:29:29 | I'm saying like you don't need to have those tools, because all you have to do |
| 304 | 00:29:29 --> 00:29:32 | is let the chart tell you the price is going to tell you everything you need to |
| 305 | 00:29:32 --> 00:29:36 | know, as long as you can see what time it is, what day it is, what where do we |
| 306 | 00:29:36 --> 00:29:39 | have an inefficiency? Where's their relative equal highs, relative equal |
| 307 | 00:29:39 --> 00:29:44 | lows. And all you need is just that, and you have everything you need to find |
| 308 | 00:29:44 --> 00:29:48 | setups that are going to never run out of supply like you always like you, |
| 309 | 00:29:48 --> 00:29:52 | always find setups. So because it's likely to draw down here and it's |
| 310 | 00:29:52 --> 00:29:58 | Friday, we've moved up every day bullish. There's your gap right here on |
| 311 | 00:29:58 --> 00:30:01 | the 15 second chart. Yeah, so |
| 312 | 00:30:08 --> 00:30:11 | all you're doing is you're waiting for opportunities to see price behave in a |
| 313 | 00:30:11 --> 00:30:22 | manner that is obvious. It gives you immediate feedback. If the trade idea is |
| 314 | 00:30:22 --> 00:30:27 | right, you'll see all the things that would lead up to that setup come to |
| 315 | 00:30:27 --> 00:30:32 | fruition quickly. They won't. It won't spend a whole lot of time messing around |
| 316 | 00:30:32 --> 00:30:36 | in levels, like if, if you expect it to go lower, everything that you would |
| 317 | 00:30:36 --> 00:30:42 | expect to see price used to keep it from going higher. If those factors are not |
| 318 | 00:30:42 --> 00:30:47 | being seen in price action, chances are you have initial feedback that your |
| 319 | 00:30:47 --> 00:30:51 | trade idea is probably not on side. One side means you're right about the |
| 320 | 00:30:51 --> 00:30:54 | directional eyes, or if you're going to trade it, you're bullish. That means |
| 321 | 00:30:55 --> 00:30:58 | everything is indicating that the market's still going higher, and there's |
| 322 | 00:30:58 --> 00:31:03 | nothing that should upset you or make you nervous. By having PB arrays and by |
| 323 | 00:31:03 --> 00:31:10 | having things around time, expecting price to behave a certain way, the more |
| 324 | 00:31:10 --> 00:31:15 | things you can stack in your favor, not just simply, because it's at 950, to |
| 325 | 00:31:15 --> 00:31:19 | 1010, it's time to take a trade, and this is going in and do something. You |
| 326 | 00:31:19 --> 00:31:24 | have to have a basis of what it is you're framing the idea on. And if you |
| 327 | 00:31:24 --> 00:31:27 | don't have that, then you don't have a narrative understood. And if you're |
| 328 | 00:31:27 --> 00:31:32 | trading without understanding the narrative. Narrative is not bias, okay? |
| 329 | 00:31:32 --> 00:31:37 | Bias is are you bullish or you're bearish? You gotta go one step beyond |
| 330 | 00:31:37 --> 00:31:42 | that, like you gotta know where is it likely to go and why would it be |
| 331 | 00:31:43 --> 00:31:47 | realistic to assume it's going to go there? So my framework around the idea |
| 332 | 00:31:47 --> 00:31:52 | of getting down to these lows that make this line here, if that is something |
| 333 | 00:31:52 --> 00:32:02 | that was happening on a Monday, it was probably be less less likely to occur, |
| 334 | 00:32:02 --> 00:32:07 | because money's a new week, and they may be doing something entirely different to |
| 335 | 00:32:07 --> 00:32:11 | frame a narrative, whereas we have, it's Friday today, we've been going up every |
| 336 | 00:32:11 --> 00:32:16 | single day, and we haven't had a lot of rain to be upside, but we've, we've, |
| 337 | 00:32:16 --> 00:32:20 | we've traveled higher all, all this week, so it's reasonable to see some |
| 338 | 00:32:20 --> 00:32:24 | kind of a retracement, and all you do is simply look for reasons to take out old |
| 339 | 00:32:24 --> 00:32:30 | lows or trade or reprice to old lows or an old low. In this case, we have just |
| 340 | 00:32:30 --> 00:32:33 | obvious relative equal lows. So I'm not interested in being long. I don't care |
| 341 | 00:32:33 --> 00:32:37 | less if this thing went up 100 handles, that's simply not a trade I would be in. |
| 342 | 00:32:37 --> 00:32:43 | Do you understand? Yes, so it allows me to be comfortable with one side of the |
| 343 | 00:32:43 --> 00:32:50 | marketplace waiting for a setup that is logical, that it is in a in a time that |
| 344 | 00:32:50 --> 00:32:55 | the market's going to behave a certain way, where it's easy to see it where |
| 345 | 00:32:55 --> 00:33:05 | it's easy, it's one handed. Well, not one handed, one sided. I I think about |
| 346 | 00:33:05 --> 00:33:14 | where we have opened that at 930 and where we're trading at right now, other |
| 347 | 00:33:14 --> 00:33:22 | days when the market has more week more time in the week before Friday's close, |
| 348 | 00:33:23 --> 00:33:28 | it'll offer a lot better, cleaner price action, and you won't have all of this |
| 349 | 00:33:28 --> 00:33:32 | back and forth, back and forth, back and forth. The reason why we didn't have |
| 350 | 00:33:32 --> 00:33:38 | that large of a gap was indicating that it was going to be this kind of morning |
| 351 | 00:33:42 --> 00:33:45 | if you're looking to trade and use large leverage, which is most of what my |
| 352 | 00:33:45 --> 00:33:48 | students are trying to do, because they're using these funded accounts, |
| 353 | 00:33:48 --> 00:33:55 | they're trying to really strap on this big ass contract size because they want |
| 354 | 00:33:55 --> 00:34:00 | to be able to get something quick. They want to give big windfall victories. And |
| 355 | 00:34:00 --> 00:34:07 | they're greedy and they're impatient. You can't do those types of traits in |
| 356 | 00:34:07 --> 00:34:13 | days and mornings like this. If you have a large gap, very large gap opening, you |
| 357 | 00:34:13 --> 00:34:18 | have the first signature that tells you, okay, yes. If you know what you're |
| 358 | 00:34:18 --> 00:34:22 | doing, you know what you're expecting, then you can see a little bit larger |
| 359 | 00:34:22 --> 00:34:27 | risk. Not that larger risk is right, but why would you want to risk the maximum |
| 360 | 00:34:27 --> 00:34:34 | in a market that has several things going against it right away? That's the |
| 361 | 00:34:34 --> 00:34:40 | That's a Gambler's mentality, where they'll go in and they'll try to force |
| 362 | 00:34:40 --> 00:34:44 | their will on it. And dad has done that a lot. When I was 20, like, I'm gonna |
| 363 | 00:34:44 --> 00:34:49 | it, it stopped me out, or it scared me out of my trade, and I got out of it, |
| 364 | 00:34:49 --> 00:34:54 | and then it ran where I wanted to go as a 20 year old, it was it would make me |
| 365 | 00:34:54 --> 00:34:59 | mad, and then I'd go in, I'm gonna exact revenge on it, soybean market. Your ass |
| 366 | 00:34:59 --> 00:35:03 | is mine. You know, and then they would hand me my backside even more, you know. |
| 367 | 00:35:03 --> 00:35:09 | And I didn't learn my lesson for a long time doing that. So one of the biggest |
| 368 | 00:35:09 --> 00:35:13 | things I started to invest my time in is determining when not to take trades, |
| 369 | 00:35:14 --> 00:35:20 | when not to when not to expect it to be an invitation for me to get in, but |
| 370 | 00:35:20 --> 00:35:26 | there's always an invitation for your study. So perfect example, we opened up |
| 371 | 00:35:26 --> 00:35:31 | with a indication by me into opening a session that I think this is going to be |
| 372 | 00:35:31 --> 00:35:39 | a lackluster morning based on how we opened. Because we opened this way, all |
| 373 | 00:35:39 --> 00:35:43 | the things can be in the chart we have the fair value gap. Did you see me say |
| 374 | 00:35:43 --> 00:35:47 | entry? Did you see me post the demo? Did you see me doing it? No, no, we're |
| 375 | 00:35:47 --> 00:35:52 | waiting. Because I want to show you how having this first indication that it's |
| 376 | 00:35:52 --> 00:36:01 | going to be problematic. If you read my comments, okay, most of them are all, |
| 377 | 00:36:01 --> 00:36:05 | like, sickeningly sweet, like supportive. I love you, and I thank you |
| 378 | 00:36:05 --> 00:36:08 | for teaching all that stuff, and that's great. I appreciate all that. But we |
| 379 | 00:36:08 --> 00:36:13 | went to the top of the opening range gap here. Went to the upper quadrant. You |
| 380 | 00:36:13 --> 00:36:17 | see that in this type of action here, that is, that's actually productive. I |
| 381 | 00:36:17 --> 00:36:21 | like to see that if we get down below that fair value gap again, here same |
| 382 | 00:36:21 --> 00:36:26 | scenario. Then we would want to see it. Now we've had the market redelivered |
| 383 | 00:36:26 --> 00:36:32 | almost to the top. It left a small little portion. See that? Yes, so let's |
| 384 | 00:36:32 --> 00:36:36 | play devil's advocate for a minute. Let me finish my thought. Thirds first |
| 385 | 00:36:39 --> 00:36:42 | they'll say you're hiding. You're losing traits. What they don't realize is I'm |
| 386 | 00:36:42 --> 00:36:47 | using what I'm teaching here today is I'm being highly selective, and they're |
| 387 | 00:36:47 --> 00:36:50 | ignoring the fact that the things I'm talking about live in the live stream, |
| 388 | 00:36:51 --> 00:36:58 | they're the things that are panning out so the now, watch your, watch your, your |
| 389 | 00:36:58 --> 00:37:06 | gap here on the 15 second chart. Okay, if it can offer some kind of a smaller |
| 390 | 00:37:06 --> 00:37:10 | fair value gap in the range here before this low is taken, then if it starts to |
| 391 | 00:37:10 --> 00:37:15 | sell off, it should accelerate and very quickly run down into here. But if you |
| 392 | 00:37:15 --> 00:37:21 | don't have the if, if you don't have a skill set or an attempt to get into the |
| 393 | 00:37:21 --> 00:37:29 | marketplace with the pursuit of knowing when you should sit still. Why should |
| 394 | 00:37:29 --> 00:37:33 | you rush in to do something right now? Well, you're greedy, you're impatient, |
| 395 | 00:37:34 --> 00:37:38 | you're impulsive, or you're chasing somebody else's influence, and that's |
| 396 | 00:37:38 --> 00:37:41 | one of the things I can't stand about social media, because there's a lot of |
| 397 | 00:37:41 --> 00:37:47 | people online that are selling courses. They're They're inspiring people |
| 398 | 00:37:47 --> 00:37:51 | watching them to get into a trade, and it's advantageous for them to do that, |
| 399 | 00:37:51 --> 00:37:54 | because they're going to blow their account and they're going to use that |
| 400 | 00:37:54 --> 00:37:58 | same affiliate link underneath that video, and that person's like a drug |
| 401 | 00:37:58 --> 00:38:02 | dealer getting them hopped up. They're blowing their accounts on their live |
| 402 | 00:38:02 --> 00:38:06 | stream too, and they get used to thinking, Oh, it's still cool. We're all |
| 403 | 00:38:06 --> 00:38:10 | we're all community of losers. And the guy that's running or the gal that's |
| 404 | 00:38:10 --> 00:38:13 | running the YouTube channel, they're actually profiting off of these zombies |
| 405 | 00:38:13 --> 00:38:17 | that are literally in there, just blindlessly following them and saying, |
| 406 | 00:38:17 --> 00:38:20 | Okay, I'm just going to go in here. But we're part of a tribe. We're part of a |
| 407 | 00:38:20 --> 00:38:24 | community. So I'm thankful I didn't come up in that because I think as a 20 year |
| 408 | 00:38:24 --> 00:38:27 | old, I probably would have got caught up in it initially, because I wanted to |
| 409 | 00:38:27 --> 00:38:32 | find my place in it. And I teach my students that they are home in |
| 410 | 00:38:32 --> 00:38:35 | themselves. They don't need to be in another community. They don't need to be |
| 411 | 00:38:35 --> 00:38:41 | in my community. Okay, there's no team ICT, but imagine if you don't have these |
| 412 | 00:38:41 --> 00:38:46 | reference points like I'm showing you here today, and then also not expecting |
| 413 | 00:38:46 --> 00:38:50 | that it's going to be a problematic morning session, and you just simply go |
| 414 | 00:38:50 --> 00:38:53 | in there and say, Well, we have these things. Then we went back to the first |
| 415 | 00:38:53 --> 00:38:57 | one minute fair value gap here. So the first presented fair value gap on the |
| 416 | 00:38:57 --> 00:39:02 | one minute chart is this dark one here. I'm going to take this, the shaded area |
| 417 | 00:39:02 --> 00:39:02 | off. |
| 418 | 00:39:06 --> 00:39:11 | This is your one minute first presented fair value gap. And it's valid because |
| 419 | 00:39:11 --> 00:39:18 | it is that 935 it's not on 930 candle. So anything between 931 or 931 to 10 |
| 420 | 00:39:18 --> 00:39:21 | o'clock, whatever fair value gap that forms on the one minute chart, that's |
| 421 | 00:39:21 --> 00:39:26 | That's yours. That's the one you use. I don't care what anybody else does with |
| 422 | 00:39:26 --> 00:39:29 | it. If they're welcome to experiment and do whatever they want with it. But you, |
| 423 | 00:39:29 --> 00:39:36 | that's the one you use. In time, you will start to use this information here. |
| 424 | 00:39:36 --> 00:39:42 | And then you can use a 15 second or a 45 second or a 32nd but you have to start |
| 425 | 00:39:42 --> 00:39:48 | somewhere, and your starting point is this one. This way, it tells dad by |
| 426 | 00:39:48 --> 00:39:53 | watching what you do and when you do your executions, I will see how you use |
| 427 | 00:39:53 --> 00:39:57 | that first presented fair value guy, and it'll help me help you determine where |
| 428 | 00:39:57 --> 00:40:02 | you're messing up. Because if you don't. Are at the same reference point to get |
| 429 | 00:40:02 --> 00:40:06 | your bearings like this is, this is a common price level that everybody that's |
| 430 | 00:40:06 --> 00:40:11 | watching can still still do the same thing that you're doing, learn how to |
| 431 | 00:40:11 --> 00:40:15 | read price based on that one reference point. Basically all this is telling you |
| 432 | 00:40:15 --> 00:40:20 | is the market's bullish when it's above it and it's bearish when it's below. It. |
| 433 | 00:40:21 --> 00:40:25 | But we have to allow that volatility that occurs in the first 30 minutes to |
| 434 | 00:40:25 --> 00:40:31 | traverse above and below it, and then we get to a macro time like 950, to 1010, |
| 435 | 00:40:32 --> 00:40:36 | if everything is in play, and they've already made the upper portion of it |
| 436 | 00:40:36 --> 00:40:42 | jagged, did they not take out this high with this run here? Yes. So if it's |
| 437 | 00:40:42 --> 00:40:48 | bearish, it would have already went down here. If it had been a larger gap open, |
| 438 | 00:40:49 --> 00:40:52 | it would have already done it, if it was done and dusted, and probably would have |
| 439 | 00:40:52 --> 00:40:57 | ended the stream button, but because it had all the indications with it, was not |
| 440 | 00:40:57 --> 00:41:05 | a very, very large gap. And how we behaved right at 930 and what we've been |
| 441 | 00:41:05 --> 00:41:09 | doing has led to exactly what I said beginning stream, where it's going to be |
| 442 | 00:41:09 --> 00:41:12 | a lack of luster morning session. Now that doesn't mean that that hasn't had |
| 443 | 00:41:12 --> 00:41:16 | setups. I mean, we were, we were trading yesterday, you know, watching them go up |
| 444 | 00:41:16 --> 00:41:19 | and down, and I did it with my private students last night too, teaching them |
| 445 | 00:41:19 --> 00:41:24 | how to practice and do drills, and we ran up $34,000 in just a little bit of |
| 446 | 00:41:24 --> 00:41:29 | time yesterday. Here you're being met with a little bit more challenging |
| 447 | 00:41:29 --> 00:41:34 | environment. So you have to be highly selective about what you're trying to |
| 448 | 00:41:34 --> 00:41:40 | take a trade on what would be wrong, what would be inherently wrong about |
| 449 | 00:41:40 --> 00:41:47 | taking a trade if the market went below here, over here on the one minute chart, |
| 450 | 00:41:47 --> 00:41:53 | let's say that you waited for price to go below that and you want you went |
| 451 | 00:41:53 --> 00:41:57 | short down here. Is that technically, in your opinion, is that something that |
| 452 | 00:41:57 --> 00:42:02 | would be viable? Would it be high risk? Would it be low risk if you waited for |
| 453 | 00:42:02 --> 00:42:06 | it to go down below this low, knowing, based on what you have an understanding |
| 454 | 00:42:06 --> 00:42:09 | and don't be afraid to answer it. Just tell me what you think would would it be |
| 455 | 00:42:09 --> 00:42:13 | advantageous for you to be short after it goes below this low, to get to this |
| 456 | 00:42:13 --> 00:42:14 | this level down here? |
| 457 | 00:42:15 --> 00:42:19 | I wouldn't say it's advantageous. My opinion would be, would be somewhat |
| 458 | 00:42:19 --> 00:42:21 | leaning towards Jason price. In my opinion, |
| 459 | 00:42:24 --> 00:42:33 | normally, yeah, yes, but because we have the smooth area in price action over |
| 460 | 00:42:33 --> 00:42:40 | here, contrast this, all these relative all these, these two relative equal |
| 461 | 00:42:40 --> 00:42:47 | lows. Contrast that with that's what's below the market price. So below the |
| 462 | 00:42:47 --> 00:42:56 | market price, things are smooth. We have smooth lows here. The market has traded |
| 463 | 00:42:56 --> 00:43:01 | higher, taking up this short term high, and we went into the upper half of that |
| 464 | 00:43:01 --> 00:43:02 | opening range gap. |
| 465 | 00:43:09 --> 00:43:18 | He's clearing his throat. He's coming off of a bug. Good, cough up a lung. Oh, |
| 466 | 00:43:18 --> 00:43:23 | man, this is basic training. You got time for this? Closest this, plus you |
| 467 | 00:43:23 --> 00:43:29 | should. So we have the market take take out this high here, and it took out this |
| 468 | 00:43:29 --> 00:43:33 | hot here, so it had aggression going up in the upper half of that open range |
| 469 | 00:43:33 --> 00:43:39 | gap. Was it able to stay there? They can't hear you? Shake your head now, |
| 470 | 00:43:39 --> 00:43:47 | sorry. Did it stay there? No, okay, where did the body stop at this line? |
| 471 | 00:43:47 --> 00:43:53 | Right here, right? What is this line? It's the upper quadrant of the gap |
| 472 | 00:43:54 --> 00:44:00 | between 930s opening price and yesterday's 414, final settlement price. |
| 473 | 00:44:01 --> 00:44:07 | So when it went up here, the bodies are telling you, yes, we went up into the |
| 474 | 00:44:07 --> 00:44:10 | upper half because ICT is on a live stream saying it's better if they don't |
| 475 | 00:44:10 --> 00:44:13 | do it, so they want to mess around with it, but it's still okay, because the |
| 476 | 00:44:13 --> 00:44:18 | bodies are telling you that it is not laying a body to the upper half |
| 477 | 00:44:19 --> 00:44:23 | entirely. It's just going to the upper quadrant level it wicks, but it let the |
| 478 | 00:44:23 --> 00:44:28 | small little portion open up. So because it's done these types of things here, I |
| 479 | 00:44:28 --> 00:44:34 | still favor the market wilting and rolling over and going down to attack |
| 480 | 00:44:34 --> 00:44:40 | and reprice into those sell side. The problem is, and this is what my students |
| 481 | 00:44:40 --> 00:44:44 | encounter, and this is why I tell them when we were when we first did paid |
| 482 | 00:44:44 --> 00:44:50 | mentorship in September of 2016 when I was teaching these kind of concepts, I |
| 483 | 00:44:50 --> 00:44:53 | had assholes in there that were expecting me to spoon feed them trade |
| 484 | 00:44:53 --> 00:44:57 | setups. Here's a stop, here's an entry, here's your target. And they signed an |
| 485 | 00:44:57 --> 00:45:01 | agreement digitally, knowing that that's not. What this was I'm teaching how to |
| 486 | 00:45:01 --> 00:45:05 | read price action, and the first lessons I was teaching them was to learn these |
| 487 | 00:45:05 --> 00:45:12 | types of setups where, if you know it's going to be hard for you to climb a hill |
| 488 | 00:45:12 --> 00:45:18 | because it's just snowed and it's icy, why would you want to risk your brand |
| 489 | 00:45:18 --> 00:45:22 | new car trying to drive up this icy hill when you could just go out of route, |
| 490 | 00:45:23 --> 00:45:27 | wait a little bit, go down a different pathway to avoid that hill. You can get |
| 491 | 00:45:27 --> 00:45:30 | to the same destination, but don't do that thing there. But everybody's going |
| 492 | 00:45:30 --> 00:45:34 | to say, well, the surest path to get to the 711 because I gotta get my |
| 493 | 00:45:34 --> 00:45:36 | cigarettes. I gotta get my morning coffee because I gotta go to work. |
| 494 | 00:45:37 --> 00:45:40 | They're going to do what everybody else is going to try to do. And then watch it |
| 495 | 00:45:40 --> 00:45:44 | on YouTube. You see these people. You see other cars have failed. Oh, not me. |
| 496 | 00:45:44 --> 00:45:47 | I know how to do it. Yeah, you did it better. You smashed into four cars now. |
| 497 | 00:45:47 --> 00:45:52 | So having an understanding of how you're going to get kicked out of this game |
| 498 | 00:45:52 --> 00:45:57 | prematurely, or hurt yourself, or force yourself trying to do something that is |
| 499 | 00:45:57 --> 00:46:02 | not likely to be successful at that time, at that moment, not that what |
| 500 | 00:46:02 --> 00:46:06 | you're trying to do is flawed logic. It just means that you're trying to put |
| 501 | 00:46:06 --> 00:46:13 | something together that is most likely not going to pan out at that moment in |
| 502 | 00:46:13 --> 00:46:17 | time. There's going to you're going to see things that's going to be |
| 503 | 00:46:19 --> 00:46:28 | adversarial to that. So knowing these things and how to read it will help. In |
| 504 | 00:46:28 --> 00:46:34 | my opinion, it would have helped me. I know that try to keep you from taking |
| 505 | 00:46:34 --> 00:46:39 | trades that you might think are there. They might look like they're really |
| 506 | 00:46:39 --> 00:46:42 | there, and then when you get in them, they run against you, and then you get |
| 507 | 00:46:42 --> 00:46:47 | frustrated, and if you're not in control of yourself, and you can't compose |
| 508 | 00:46:47 --> 00:46:50 | yourself and maintain that composure while you're watching price, you'll go |
| 509 | 00:46:50 --> 00:46:54 | on what's called tilt, where you just basically go into Gambler's numbness, |
| 510 | 00:46:55 --> 00:46:59 | and you just start clicking the button because you just want to escape that |
| 511 | 00:46:59 --> 00:47:03 | pain of what you Just did was wrong and you can't reconcile it, so the only |
| 512 | 00:47:03 --> 00:47:06 | thing you can do is do what. Get more of the hair the dog that bit you, and you |
| 513 | 00:47:06 --> 00:47:09 | go in and do something else, impulsively, hoping that you're going to |
| 514 | 00:47:09 --> 00:47:13 | get a lottery win, because that'll distract you from the pain and |
| 515 | 00:47:13 --> 00:47:18 | discomfort of you knowing that you impulsively did something, knowing that |
| 516 | 00:47:18 --> 00:47:22 | what I'm teaching is giving you the framework to just justify why you should |
| 517 | 00:47:22 --> 00:47:30 | sit still, to sit still. Paper, trade it. Demo, trade it. Tape, read it where |
| 518 | 00:47:30 --> 00:47:34 | you don't push any buttons, that's what you're supposed to be doing. When you |
| 519 | 00:47:34 --> 00:47:39 | see a market environment, it's going to be problematic. No problem. It's much |
| 520 | 00:47:39 --> 00:47:50 | more helpful and progress is better acquired by looking at price like this |
| 521 | 00:47:50 --> 00:47:54 | and saying, Okay, there's no entry, there's no loss. I didn't miss any |
| 522 | 00:47:54 --> 00:48:00 | profit, and I'm not feeling the pain or the regret, buyers or sellers, remorse. |
| 523 | 00:48:00 --> 00:48:04 | You're not having that experience right now. Other traders out there that have |
| 524 | 00:48:04 --> 00:48:06 | been trying to trade today if they're wrong, I'm not saying all of them are |
| 525 | 00:48:06 --> 00:48:10 | wrong. I'm sure somebody's out there made something, but it's in a market |
| 526 | 00:48:10 --> 00:48:15 | that's a little bit more problematic. It's not impossible. It's not that. It's |
| 527 | 00:48:15 --> 00:48:22 | you can't find a setup in it. This means that having these technicals like this |
| 528 | 00:48:22 --> 00:48:29 | today, chances of you as a brand new student being able to navigate this and |
| 529 | 00:48:29 --> 00:48:32 | have money money behind the idea of being right or wrong at the end of that |
| 530 | 00:48:32 --> 00:48:37 | transaction, it's going to be much more stressful. And I tried to teach my |
| 531 | 00:48:37 --> 00:48:45 | students watch this wick here. I try to teach my students how they can go in and |
| 532 | 00:48:45 --> 00:48:48 | watch price action while they're in a trade |
| 533 | 00:48:51 --> 00:48:52 | and take these quadrants off. |
| 534 | 00:48:55 --> 00:49:00 | I like to watch and how price behaves around its midpoint of its wicks. I'd |
| 535 | 00:49:00 --> 00:49:05 | like to see it wilt right through that and then rush down into that cell side. |
| 536 | 00:49:14 --> 00:49:20 | So it's not, it's not enough. Just to say, you know, I have, I have a male I |
| 537 | 00:49:20 --> 00:49:24 | have a model. I can see the relative equal lows. I can see the relative equal |
| 538 | 00:49:24 --> 00:49:31 | highs. You have to know the lay of the land, the terrain, and if, if you |
| 539 | 00:49:31 --> 00:49:39 | anticipate the market's going to be very, very fluid, meaning that dad |
| 540 | 00:49:39 --> 00:49:42 | teaches there's two types of trading conditions in the marketplace. There's |
| 541 | 00:49:42 --> 00:49:47 | high resistance, liquidity runs, which is what we're seeing here. The market's |
| 542 | 00:49:47 --> 00:49:50 | having difficulties trying to run to the obvious liquidity it's down there. We |
| 543 | 00:49:50 --> 00:49:54 | can clearly see their sell side down. But it's encountering what high |
| 544 | 00:49:54 --> 00:49:57 | resistance, not in the sense of resistance and support, like a retail |
| 545 | 00:49:57 --> 00:50:02 | trader, it's resisting the easy, fast. Last straight shot right to the |
| 546 | 00:50:02 --> 00:50:06 | liquidity. What would cause that? Well, the conditions of opening up the way we |
| 547 | 00:50:06 --> 00:50:10 | did, it was a, it was not a rather large gap, a large opening gap. That's like |
| 548 | 00:50:10 --> 00:50:15 | the precursor to, we're going to have a really fluid market, a really large gap. |
| 549 | 00:50:16 --> 00:50:21 | And I like 75 handles. I That's, that's personal, like, that's my thing. I can |
| 550 | 00:50:21 --> 00:50:27 | trade in all this mess here too, but I've learned by doing these days like |
| 551 | 00:50:27 --> 00:50:32 | this, and I'm trading them, and I'll show a recording of me doing it when |
| 552 | 00:50:32 --> 00:50:36 | it's like this, and students are aware. They can see that it's being a little |
| 553 | 00:50:36 --> 00:50:42 | bit apprehensive about going to where it would obviously, it would obviously make |
| 554 | 00:50:42 --> 00:50:45 | perfect sense for it to go down to that cell side. It would because it's clear, |
| 555 | 00:50:45 --> 00:50:49 | it's easy, it's relative equal loads, it's smooth, and we've made it jagged. |
| 556 | 00:50:49 --> 00:50:52 | On the upside of all this up here is jagged, and what's smooth is what |
| 557 | 00:50:52 --> 00:50:58 | remains over here. So it's hard for them to keep submitting to that idea. Every |
| 558 | 00:50:58 --> 00:51:02 | time it creates these jumps back up, or it consolidates and it drops and it |
| 559 | 00:51:02 --> 00:51:07 | comes right back. That's what scares them. And they're all characteristics |
| 560 | 00:51:07 --> 00:51:12 | that are hallmarks for high resistance liquidity runs. And I tried to teach my |
| 561 | 00:51:12 --> 00:51:16 | students that, when I was teaching Forex, that as soon as you can pick up |
| 562 | 00:51:16 --> 00:51:20 | on those characteristics and price action when they're not in the |
| 563 | 00:51:20 --> 00:51:26 | marketplace you have low resistance liquidity run markets where the markets |
| 564 | 00:51:26 --> 00:51:29 | are easy, they just go in right from your entry, and they just go right, |
| 565 | 00:51:29 --> 00:51:32 | right to the liquidity or right to the inefficiency, and it's fast delivery |
| 566 | 00:51:32 --> 00:51:37 | immediate feedback. As soon as you recognize you're in a high resistance |
| 567 | 00:51:37 --> 00:51:43 | liquidity run type market like this, you should dial back your leverage. You |
| 568 | 00:51:43 --> 00:51:48 | should slow down if you get stopped out, really take a second chance. Of, do I |
| 569 | 00:51:49 --> 00:51:54 | really want to get back in the trade? Or let me just take this trade on paper, or |
| 570 | 00:51:54 --> 00:51:57 | let me just take read it and just get the experience that way, because I've |
| 571 | 00:51:57 --> 00:52:01 | already took a loss. So that way, if I compound that loss, it won't be worse, |
| 572 | 00:52:01 --> 00:52:07 | and it's even the more more demoralizing when it's a Friday, because if you lose |
| 573 | 00:52:07 --> 00:52:12 | on Friday, or if you lost your weekly profits, you know that you've accrued |
| 574 | 00:52:12 --> 00:52:15 | all throughout the week. And here you're on Friday, and you go on tilt, you go |
| 575 | 00:52:15 --> 00:52:20 | into Gambler's numbness, and you just wipe it all out, and more. That makes a |
| 576 | 00:52:20 --> 00:52:26 | very painful weekend, and I had lots of them as a young man. I hated it, and I |
| 577 | 00:52:26 --> 00:52:31 | couldn't wait to get back to Monday so I could go and gamble some more it would |
| 578 | 00:52:31 --> 00:52:34 | make you make even worse decisions come exactly. And it was just like this cycle |
| 579 | 00:52:34 --> 00:52:38 | that we repeat over and over and over again. So one of the things that the |
| 580 | 00:52:38 --> 00:52:43 | dickheads that like to troll me with, they take and they cherry pick certain |
| 581 | 00:52:43 --> 00:52:47 | things, and they'll say, Well, this is why this stuff doesn't work. This is why |
| 582 | 00:52:47 --> 00:52:50 | this sucks. This is why ICT can't trade. ICT knows how to fucking trade. Okay, I |
| 583 | 00:52:50 --> 00:52:55 | know how to fucking trade. They don't know how to see these things. And I'm |
| 584 | 00:52:55 --> 00:52:58 | trying to communicate to not only them so they can pull their head out of their |
| 585 | 00:52:58 --> 00:53:02 | ass, but everyone else that's willing to listen and you, because you're my son, |
| 586 | 00:53:02 --> 00:53:06 | you're perfect example. Look what it is. It got real, real close to it, and then |
| 587 | 00:53:06 --> 00:53:10 | now you see this. That's exactly what a high resistance liquidity run market |
| 588 | 00:53:10 --> 00:53:15 | does. It's frustrating. It's like, you ever see that old commercial for GEICO |
| 589 | 00:53:15 --> 00:53:18 | has this old guy, and he's in these fishing chaps, and he's got the little |
| 590 | 00:53:18 --> 00:53:21 | dollar bill hanging from the fishing rod, and he's like, dangling the |
| 591 | 00:53:21 --> 00:53:25 | pathologist, and then we try to reach for it. He's, Oh, you gotta be quicker |
| 592 | 00:53:25 --> 00:53:28 | than that. Oh, you always had it. And that's kind of like, what a high |
| 593 | 00:53:28 --> 00:53:32 | resistance liquidity run market is. Like. It teases you a lot. And then when |
| 594 | 00:53:32 --> 00:53:36 | you finally lose money and you get fed up with it, that's when you turn the |
| 595 | 00:53:36 --> 00:53:39 | charts off, you go away, and you come back 30 minutes later, or an hour later, |
| 596 | 00:53:39 --> 00:53:42 | and it ran right to where you thought was going to go. And you're like, you |
| 597 | 00:53:42 --> 00:53:46 | son of a bitch. So what do you want to do now? You want to go in the afternoon |
| 598 | 00:53:46 --> 00:53:51 | and rush to get something back, or you go through the weekend and you abuse |
| 599 | 00:53:51 --> 00:53:55 | your family members, abuse your dog, you know, go out to the bar, get inebriated, |
| 600 | 00:53:55 --> 00:53:58 | spend your girl money on somebody that ain't going to go home with you. And you |
| 601 | 00:53:58 --> 00:54:02 | just compound that loser cycle. And then what do you do? You carry that over into |
| 602 | 00:54:02 --> 00:54:07 | next week, and you're starting on the wrong foot immediately, doing all the |
| 603 | 00:54:07 --> 00:54:12 | wrong things, because you have this toxic mindset. Now, contrast that with |
| 604 | 00:54:13 --> 00:54:17 | here's our here's our signatures that we're noticing today. We had a rather |
| 605 | 00:54:17 --> 00:54:27 | it's not a large opening range gap, but it did that. It's not giving me the |
| 606 | 00:54:27 --> 00:54:32 | delivery of price that would be synonymous with a low resistance, |
| 607 | 00:54:32 --> 00:54:36 | liquidity run market, where it's going to move quickly to it, it's going to be |
| 608 | 00:54:36 --> 00:54:40 | a lot of give and take back and forth, and eventually, after it's grinded down |
| 609 | 00:54:40 --> 00:54:44 | everybody else, because that's really what's going on. That's that's what it's |
| 610 | 00:54:44 --> 00:54:51 | doing. These conditions, this is manually intervened. That means there's |
| 611 | 00:54:51 --> 00:54:57 | something external that's not script, it's not AI driven. These are all |
| 612 | 00:54:57 --> 00:55:06 | manually intervened conditions. The only time that is AI driven, artificially |
| 613 | 00:55:06 --> 00:55:09 | driven, which is algorithmic, is when it's time distortion. This is not time |
| 614 | 00:55:09 --> 00:55:14 | distortion. This is highly, absolutely, 100% manually intervened. So that means |
| 615 | 00:55:14 --> 00:55:19 | they're saying, No, not yet, no, not yet. No, not yet. So as as soon as you |
| 616 | 00:55:19 --> 00:55:27 | recognize those, well, that's what I call signature. When you when you can |
| 617 | 00:55:27 --> 00:55:31 | recognize that's what this is, or you can recognize it going into the opening |
| 618 | 00:55:31 --> 00:55:35 | in the morning, just simply avoid it, to sit still, and you're going to find that |
| 619 | 00:55:35 --> 00:55:41 | it is so much more. It's better knowing when to sit outside of these types of |
| 620 | 00:55:41 --> 00:55:48 | days, even though you can read it and you can see it, it's more fulfilling to |
| 621 | 00:55:48 --> 00:55:52 | me, as someone that's been doing this for more than 30 years now, I take more |
| 622 | 00:55:53 --> 00:55:58 | pleasure out of knowing that they are not beating me in this whereas a younger |
| 623 | 00:55:58 --> 00:56:02 | man I was it was constantly beating me up. The bond market was would slap me |
| 624 | 00:56:02 --> 00:56:09 | around. The currency futures would slap me around. And I had either I had to |
| 625 | 00:56:09 --> 00:56:12 | learn this skill set or I was never going to make it. I was never going to |
| 626 | 00:56:12 --> 00:56:16 | learn how to do it. I wasn't going to be able to maintain an interest because it |
| 627 | 00:56:16 --> 00:56:22 | was constantly hemorrhaging money. So most of what dad was losing on were |
| 628 | 00:56:22 --> 00:56:29 | environments like this and or I was going long, and it was a market that was |
| 629 | 00:56:29 --> 00:56:33 | bearish, and I just didn't understand how short sell short. So I was extremely |
| 630 | 00:56:33 --> 00:56:37 | limited, so I had absolutely no business being in there trying to trade with real |
| 631 | 00:56:37 --> 00:56:42 | money. But you know, everybody does stupid, right? So when I teach my |
| 632 | 00:56:42 --> 00:56:47 | students, and I had a lot of people quit the mentorship in the first three months |
| 633 | 00:56:47 --> 00:56:53 | in 2016 and they're idiots, but they're literally, they're idiots because I was |
| 634 | 00:56:53 --> 00:57:00 | teaching them how to avoid losing, like, that's the number one skill set. Like, |
| 635 | 00:57:01 --> 00:57:04 | you know, as a kid, everybody's played this game before. And you used to ask |
| 636 | 00:57:04 --> 00:57:07 | me, as a little boy, too, Dad, if you could pick one superpower, what would it |
| 637 | 00:57:07 --> 00:57:12 | be? Could you fly? You can turn invisible, you know, night crawler, you |
| 638 | 00:57:12 --> 00:57:17 | can teleport. You can do all this stuff. And it's interesting to see and for the |
| 639 | 00:57:17 --> 00:57:20 | folks that are listening, you know, if you want to actually be a part of our |
| 640 | 00:57:20 --> 00:57:24 | interactive study for me, and I'll share it with my son too. If you had a |
| 641 | 00:57:24 --> 00:57:27 | superpower that you could pick, you know, what superpower would you pick? |
| 642 | 00:57:27 --> 00:57:33 | You can only have one. What superpower would be? Well, as a trader, I would |
| 643 | 00:57:33 --> 00:57:37 | want the skill set where I don't take losing trades. It's pretty obvious, |
| 644 | 00:57:37 --> 00:57:43 | right? It's obvious. So obviously, we can't say that there's a superpower that |
| 645 | 00:57:43 --> 00:57:47 | can be given to us, like we can't mutate and have a, you know, a track record |
| 646 | 00:57:47 --> 00:57:51 | that never has losing traits. So we're forced to do what we have to develop a |
| 647 | 00:57:51 --> 00:57:58 | skill. We have to develop some kind of repertoire, have an arsenal at our |
| 648 | 00:57:58 --> 00:58:04 | disposal where we can at least do the maximum in terms of preventing that, or |
| 649 | 00:58:04 --> 00:58:10 | at least not falling victim to conditions that would lay a perfect |
| 650 | 00:58:10 --> 00:58:15 | table for you to sit down to thinking you're going to eat fine dining, and you |
| 651 | 00:58:15 --> 00:58:20 | get McDonald's menu bullshit. They ain't food, and you you get sick, and it hurts |
| 652 | 00:58:20 --> 00:58:24 | your equity, and it hurts your mindset. And if you do things that are, I mean, |
| 653 | 00:58:24 --> 00:58:29 | look at what it's going over here. This is exactly what I'm talking about. Like, |
| 654 | 00:58:30 --> 00:58:33 | there are people out there, I guarantee you, I'll go back and watch their |
| 655 | 00:58:33 --> 00:58:37 | streams later on, they'll be in here, and they'll be talking about what they |
| 656 | 00:58:37 --> 00:58:40 | think's going to happen, or they'll be complaining about, oh, why is the market |
| 657 | 00:58:40 --> 00:58:44 | doing this to me? Well, that's what these lessons are for. So that way you |
| 658 | 00:58:44 --> 00:58:49 | don't have to feel that way. I don't feel any regret. I don't feel any I'm |
| 659 | 00:58:49 --> 00:58:53 | indifferent, because I knew coming into today, this was going to be a lackluster |
| 660 | 00:58:53 --> 00:58:58 | morning. So how do you use this information? You don't trade with real |
| 661 | 00:58:58 --> 00:59:01 | money on those days, but you should tape read it, |
| 662 | 00:59:03 --> 00:59:09 | or do a demo with one contract, with a micro, not many. So that way you're not |
| 663 | 00:59:09 --> 00:59:13 | worried about the money. It won't hurt your ego if you do it wrong. And you |
| 664 | 00:59:13 --> 00:59:19 | test every single time that the market would be a entry for you to try to get |
| 665 | 00:59:19 --> 00:59:23 | down to where you would expect it to trade to and then count how many times |
| 666 | 00:59:23 --> 00:59:28 | it fails and when it finally does, if you get it, how many things you had to |
| 667 | 00:59:28 --> 00:59:32 | go through to get that one winning trade. Is it worth it when you draw down |
| 668 | 00:59:32 --> 00:59:37 | on five or six trades and you finally get that? Oh, it went to my target, but |
| 669 | 00:59:37 --> 00:59:40 | look at what your commission costs are going to be on that day. Look at what |
| 670 | 00:59:40 --> 00:59:45 | your drawdown is, even though it went to that target, your net loss, your |
| 671 | 00:59:45 --> 00:59:51 | negative on the day. So you're spending money on commissions, it's a number one |
| 672 | 00:59:52 --> 00:59:56 | contributing factor to over traders. They they can still climb out of the |
| 673 | 00:59:56 --> 01:00:01 | dollar drawdown if they're good, if. They're lucky if it works out in their |
| 674 | 01:00:01 --> 01:00:06 | favor. But what most people do on the internet, when they see people do this, |
| 675 | 01:00:06 --> 01:00:10 | they've done it in live streams. They've done it in hindsight, or whatever they |
| 676 | 01:00:10 --> 01:00:14 | think, wow, they got out of that drawdown, not realizing that the guy |
| 677 | 01:00:14 --> 01:00:20 | probably had $2,500 in commission costs because he did 100 trades, you know, so. |
| 678 | 01:00:20 --> 01:00:23 | But I was right, yeah, but, and then, but they want to project the image, not |
| 679 | 01:00:23 --> 01:00:27 | only to themselves, to the world. I was right, or I'm a better trader than you |
| 680 | 01:00:27 --> 01:00:31 | think I am. But let's look at the math behind it. You know, let's see what the |
| 681 | 01:00:31 --> 01:00:35 | real commission costs, and NFA fees, all those things add up. And the average |
| 682 | 01:00:35 --> 01:00:39 | trader out there that's learning how to do this, they don't know that stuff, so |
| 683 | 01:00:39 --> 01:00:43 | they fall victim to these assholes that are scamming them and they don't have a |
| 684 | 01:00:43 --> 01:00:47 | skill set to protect their student, or at least to put them in the right |
| 685 | 01:00:47 --> 01:00:56 | direction to how best avoid problem markets. Look at it. Got close. It got |
| 686 | 01:00:56 --> 01:01:00 | down there. But now look where it's at here. Isn't that frustrating? If you |
| 687 | 01:01:00 --> 01:01:03 | were trying to be short. There's no doubt about it, anybody that would have |
| 688 | 01:01:03 --> 01:01:07 | been short would be stopped out. Oh yeah, and they're thinking shit, you |
| 689 | 01:01:07 --> 01:01:14 | know, what am I going to do? Now go back to the woman chart, and I'm telling you, |
| 690 | 01:01:14 --> 01:01:19 | these are lessons that if I was 20 years old and someone was sitting down with |
| 691 | 01:01:19 --> 01:01:23 | me, it would have gave me framework. It was slowed my role, because I was |
| 692 | 01:01:23 --> 01:01:27 | rushing to get out of 95 I was doing everything I could possibly could to get |
| 693 | 01:01:27 --> 01:01:31 | myself into trades. Because I was thinking, if I get into trades, I'll be |
| 694 | 01:01:31 --> 01:01:34 | able to make more money. The faster I can make money, the faster I can stop |
| 695 | 01:01:34 --> 01:01:39 | going to these stupid ass jobs and work 13 hours a day, like I hated it. I hated |
| 696 | 01:01:39 --> 01:01:44 | it, and I was willing to put myself through pain thinking that it was worth |
| 697 | 01:01:44 --> 01:01:48 | it. It was not worth it. I was just eight. Was it? No, it caused that all |
| 698 | 01:01:48 --> 01:01:55 | kinds of problems and digestive issues, mental disorders because of placing so |
| 699 | 01:01:55 --> 01:01:59 | much emphasis on I have to do it right now and now, looking back as 50 year old |
| 700 | 01:01:59 --> 01:02:03 | man, I didn't have to clearly I didn't get it as soon as I wanted to happen, |
| 701 | 01:02:03 --> 01:02:10 | right? So what did I have to submit to time, and if I did the things correctly, |
| 702 | 01:02:10 --> 01:02:15 | like I taught my students and actively still teaching is to simply just relax |
| 703 | 01:02:15 --> 01:02:19 | and stop trying to make that next trade your entire career. It's not a make it |
| 704 | 01:02:19 --> 01:02:25 | or break it, be all end all result at the end of that next trade. But as a 20 |
| 705 | 01:02:25 --> 01:02:29 | year old, every single time I say I trade, it was like that. It wasn't just, |
| 706 | 01:02:29 --> 01:02:32 | you know, if I lose on this one, it's okay. It doesn't hurt me. It doesn't |
| 707 | 01:02:32 --> 01:02:36 | hurt me mentally. It doesn't hurt me financially. But every single trade I |
| 708 | 01:02:36 --> 01:02:41 | framed did both of those things. It hurt me financially, and it hurt me mentally, |
| 709 | 01:02:41 --> 01:02:44 | because I was stressing while I was in the trade. There was never a time when I |
| 710 | 01:02:44 --> 01:02:48 | was 20 years old I was in a trade where I was calm. I was never like that. I was |
| 711 | 01:02:48 --> 01:02:53 | absolutely at my wit's end every single moment I was in a trade, and many times |
| 712 | 01:02:53 --> 01:02:59 | I was stressed leading up to the trade, like almost wanting to vomit so and I'm |
| 713 | 01:02:59 --> 01:03:02 | sure some of you out there listening, you probably feel very similar things, |
| 714 | 01:03:02 --> 01:03:06 | especially if you've ever experienced losing or if you lost some money. And |
| 715 | 01:03:06 --> 01:03:12 | it's like the surest way to avoid that is give yourself permission to simply |
| 716 | 01:03:12 --> 01:03:17 | not know what to do at that given time. And for you live streamers out there, |
| 717 | 01:03:17 --> 01:03:23 | like I'm one of the biggest persons well personality in trading right now. It |
| 718 | 01:03:23 --> 01:03:26 | won't stay that way. I'm just hot right now, and when I stop putting out |
| 719 | 01:03:26 --> 01:03:29 | content, stop live streaming, I'll fizzle out, and somebody else will come |
| 720 | 01:03:29 --> 01:03:34 | up, and that's how it should be. But if you're live streaming, don't be afraid |
| 721 | 01:03:34 --> 01:03:38 | or embarrassed to say, You know what? I don't know what to do right now. And I, |
| 722 | 01:03:38 --> 01:03:42 | with 32 years experience, would have a great deal of respect for something like |
| 723 | 01:03:42 --> 01:03:46 | that, but you don't see that so much. You see emotional outbursts, meltdowns. |
| 724 | 01:03:47 --> 01:03:50 | Oh, why is it doing this to me? Oh, I can't understand this. If I was wasn't |
| 725 | 01:03:50 --> 01:03:54 | watching a chart, it would do this. Stop talking like that, because the only |
| 726 | 01:03:54 --> 01:03:57 | thing you're doing is anchoring all that stuff emotionally and psychologically to |
| 727 | 01:03:57 --> 01:04:00 | yourself. You're chaining all that negativity to yourself. You do that, and |
| 728 | 01:04:00 --> 01:04:04 | not only are you doing to yourself, but your viewers are watching that. And if |
| 729 | 01:04:04 --> 01:04:08 | you're, if you're trying to, you know, be a mentor, or if you're trying to be a |
| 730 | 01:04:08 --> 01:04:12 | influencer, you know what you're doing. You're influencing toxicity. You're |
| 731 | 01:04:12 --> 01:04:20 | literally festering negativity, and it's something that can be collected by your |
| 732 | 01:04:20 --> 01:04:25 | audience, versus empowering them by watching you be responsible with |
| 733 | 01:04:25 --> 01:04:29 | yourself and say, You know what? Yes, I have 1000s of people watching Yes. They |
| 734 | 01:04:29 --> 01:04:32 | all have expectations of me being able to be right about something, or making |
| 735 | 01:04:32 --> 01:04:36 | money, or passing a combine, or making some kind of money that could |
| 736 | 01:04:36 --> 01:04:39 | eventually, after a certain number of days, allow me to afford me a |
| 737 | 01:04:39 --> 01:04:45 | withdrawal. Okay, that's wonderful, but as someone that trades, I'm more |
| 738 | 01:04:45 --> 01:04:49 | interested in how people think and how they conduct themselves, and if they're |
| 739 | 01:04:49 --> 01:04:53 | not going to be willing to admit when they don't know something and they are |
| 740 | 01:04:53 --> 01:04:57 | allowing their personality and ego, and I have probably the largest ego on the |
| 741 | 01:04:57 --> 01:05:00 | internet, because it's part of who I am as a character, I. Have to present that. |
| 742 | 01:05:00 --> 01:05:04 | That's, I want you to hate me first and then come in and try to prove me wrong. |
| 743 | 01:05:05 --> 01:05:10 | That's my whole spit. It's, that's what I've always done. I play a heel, but |
| 744 | 01:05:10 --> 01:05:13 | really, I'm a baby face in the industry, like I want everybody to do. Well, I |
| 745 | 01:05:13 --> 01:05:17 | don't hate everyone or hate anyone. They do certain things that get in my |
| 746 | 01:05:17 --> 01:05:21 | mirrors. They go too far with personal shit. But otherwise, I mean, I don't |
| 747 | 01:05:21 --> 01:05:27 | have a vendetta against anybody. So you as a trader, you as an influencer, you |
| 748 | 01:05:27 --> 01:05:35 | as a student. You have to, you have to afford yourself the permission, you have |
| 749 | 01:05:35 --> 01:05:39 | to grant yourself permission that there's going to be times where you know |
| 750 | 01:05:39 --> 01:05:44 | what it might do this, but I'm I'm just not technically going to take a trade. |
| 751 | 01:05:44 --> 01:05:48 | I'm not going to do it. I'm going to sit still because it just doesn't feel |
| 752 | 01:05:48 --> 01:05:53 | right. And I'd rather err on the side of caution than go out there and just roll |
| 753 | 01:05:53 --> 01:05:59 | the dice. And if I'm right, I can't feel good about that. But most of you, either |
| 754 | 01:05:59 --> 01:06:02 | influencers or trying to be an influencer, you'll grab onto that and |
| 755 | 01:06:02 --> 01:06:05 | you'll pony it around in front of everybody. Look what I did. Look what I |
| 756 | 01:06:05 --> 01:06:09 | did. Yeah, bro, look at me. And that's also feeding yourself toxicity, because |
| 757 | 01:06:09 --> 01:06:12 | you know down in your heart that you were not comfortable taking that trade. |
| 758 | 01:06:12 --> 01:06:15 | You just did it because you have an audience watching you. When you are |
| 759 | 01:06:15 --> 01:06:19 | trading in the privacy of your own office, your own home, whatever you're |
| 760 | 01:06:19 --> 01:06:23 | trading, there's nobody there to inspire, and there's nobody there to |
| 761 | 01:06:23 --> 01:06:28 | impress, and there's certainly no one there to draw your tears when you do |
| 762 | 01:06:28 --> 01:06:32 | shit wrong. So you might as well just start doing things with that perspective |
| 763 | 01:06:32 --> 01:06:38 | in mind and be responsible. Start on the responsible foot first. That means, how |
| 764 | 01:06:38 --> 01:06:44 | do I present myself a way, a way or a manner of going into this where I'm not |
| 765 | 01:06:44 --> 01:06:50 | openly inviting ruin. How can I avoid all that stuff and by expecting the |
| 766 | 01:06:50 --> 01:06:55 | market to behave a certain way, waiting for it to be better in terms of |
| 767 | 01:06:55 --> 01:06:58 | technicals, just because you see it delivering where we said it was going to |
| 768 | 01:06:58 --> 01:07:02 | go today doesn't mean that that's a day that you should be as a new student, you |
| 769 | 01:07:02 --> 01:07:07 | that you should be trading it. It takes a lot more experience, and that's |
| 770 | 01:07:07 --> 01:07:11 | something that you get by watching the charts, spending time with with me over |
| 771 | 01:07:11 --> 01:07:15 | live charts, so that we can see, oh, I can see what he's talking about. It is |
| 772 | 01:07:15 --> 01:07:18 | going back and forth in here, but ultimately it goes to where I say it's |
| 773 | 01:07:18 --> 01:07:22 | going to go. But you might not have the ability to be in the trade at that time, |
| 774 | 01:07:22 --> 01:07:25 | because you got into it earlier, or you got stopped out, and then you're in |
| 775 | 01:07:25 --> 01:07:28 | drawdown, and you went in there. Try to do a little bit more leverage, because |
| 776 | 01:07:28 --> 01:07:32 | all you have to do now is get half of them you just lost on to get back to |
| 777 | 01:07:32 --> 01:07:37 | break even. You gotta stop thinking about break even. Stop thinking about, I |
| 778 | 01:07:37 --> 01:07:40 | gotta make my money back. Get the back. Break even. You didn't start trading to |
| 779 | 01:07:40 --> 01:07:47 | be break even. Nobody gets in this business to say, I want to make nothing |
| 780 | 01:07:47 --> 01:07:51 | but pay commissions. I want to be break even. I want to have the same amount of |
| 781 | 01:07:51 --> 01:07:57 | money I had in my account when I first started. Nobody. Nobody does that. But |
| 782 | 01:07:57 --> 01:08:01 | something happens when you start doing things impulsively, where you lose sight |
| 783 | 01:08:01 --> 01:08:10 | of what you're doing, and you fixate all of your concerns, your fears and your |
| 784 | 01:08:10 --> 01:08:14 | hopes all around just getting back to, if I could just get my account back to |
| 785 | 01:08:14 --> 01:08:18 | where it was before I took this losing trade, or before I started this losing |
| 786 | 01:08:18 --> 01:08:18 | streak. |
| 787 | 01:08:21 --> 01:08:26 | If you stop thinking that way and say, Okay, I feel that impulse, I you have to |
| 788 | 01:08:26 --> 01:08:31 | journal and say, right now I am wrestling with trying to overcome a |
| 789 | 01:08:31 --> 01:08:36 | losing trade or a drawdown. So therefore I acknowledge that I am feeling these |
| 790 | 01:08:36 --> 01:08:41 | impulses, but I'm reminding myself and encouraging myself that I am not in |
| 791 | 01:08:41 --> 01:08:46 | trading to just simply try to get back to the state of comfort. I am |
| 792 | 01:08:46 --> 01:08:50 | comfortable. I have a model that I trust, that I did back testing on I did |
| 793 | 01:08:50 --> 01:08:53 | not rush into live trading with real money. I am comfortable in my own skin. |
| 794 | 01:08:53 --> 01:08:58 | I am home right where I'm at trading, so I'm not in any emergency. There's no |
| 795 | 01:08:58 --> 01:09:01 | emergency. I don't owe anybody money. I'm not in debt with the mafia, so I |
| 796 | 01:09:01 --> 01:09:04 | don't have to get this money back real money back real quick and put it in |
| 797 | 01:09:04 --> 01:09:07 | their hands. Your life is not in danger because you're in drawdown. You have to |
| 798 | 01:09:07 --> 01:09:12 | encourage yourself, remind yourself that you're in this to make money. And if |
| 799 | 01:09:12 --> 01:09:15 | you're constantly counting what you have and what you don't have, what you have, |
| 800 | 01:09:15 --> 01:09:20 | what you don't have, you're going to drive yourself nuts, and that means |
| 801 | 01:09:20 --> 01:09:23 | you're going to be emotionally trading. You're going to you're going to be |
| 802 | 01:09:23 --> 01:09:28 | trading your P, L, your equity curve, or your equity slope. Your equity slope |
| 803 | 01:09:28 --> 01:09:32 | will be the catalyst for why you're trying to pick a trade, because you want |
| 804 | 01:09:32 --> 01:09:36 | to try to get out of that as soon as you can. And if you're one of those prop |
| 805 | 01:09:36 --> 01:09:41 | trading guys or gals, you're thinking, I don't care if I blow up, because it's |
| 806 | 01:09:41 --> 01:09:46 | just cheaper for me to reset. It's nothing. It's just a reset. And that's |
| 807 | 01:09:46 --> 01:09:51 | why you're doing 100 plus resets. That's why you're doing 30 resets in the last |
| 808 | 01:09:51 --> 01:09:56 | six weeks, because you've already given yourself permission. You've afforded |
| 809 | 01:09:56 --> 01:10:01 | yourself the permission to fail consistently. Because all it is is an |
| 810 | 01:10:01 --> 01:10:08 | easy reset. Thank God the reset buttons there. What? How the hell is that sound |
| 811 | 01:10:08 --> 01:10:11 | logic? How is that something that anybody should say? You know what? |
| 812 | 01:10:11 --> 01:10:16 | That's the mentality I'm going to adopt. But yet it happens to majority of people |
| 813 | 01:10:16 --> 01:10:21 | in trading. Why is that? It's a compensation for the pain and discomfort |
| 814 | 01:10:21 --> 01:10:26 | you have to have something to distract yourself from what you're feeling and |
| 815 | 01:10:26 --> 01:10:30 | what you're thinking, and I'm trying to teach you, just like I was teaching my |
| 816 | 01:10:30 --> 01:10:36 | paid students, that some of them simply didn't want to hear it. They didn't want |
| 817 | 01:10:36 --> 01:10:39 | to hear it, and they don't realize that there is a way to recognize when the |
| 818 | 01:10:39 --> 01:10:44 | market's going to be reluctant to go where you want to go, and you have to |
| 819 | 01:10:44 --> 01:10:51 | recognize that, and then you have to wait or do nothing. And there's nothing |
| 820 | 01:10:51 --> 01:11:00 | wrong with doing nothing. It's better, and it's much more mature as a trader, |
| 821 | 01:11:00 --> 01:11:03 | for you to recognize when you you might be a good trader. I've considered myself |
| 822 | 01:11:03 --> 01:11:06 | the best fucking trade on this planet, and I got no shame in saying it. That's |
| 823 | 01:11:06 --> 01:11:10 | not me being egotistical. That's just the facts. I am absolutely fucking best |
| 824 | 01:11:10 --> 01:11:13 | on this on this planet, spinning around. Hey, nobody's gonna trade better doing |
| 825 | 01:11:13 --> 01:11:17 | and I've invited it, and nobody's doing it. I will show you every fucking entry |
| 826 | 01:11:17 --> 01:11:22 | mechanism, and I will run circles around you. But just because of that, I know my |
| 827 | 01:11:22 --> 01:11:26 | limitations. I know what the market's doing. I know when it's likely to hurt |
| 828 | 01:11:26 --> 01:11:32 | me, even with what I know, because it's simply going to say not yet or not |
| 829 | 01:11:32 --> 01:11:41 | today, not right now. And I can sit out here and tell you I'm going to sit still |
| 830 | 01:11:41 --> 01:11:47 | and I'm completely comfortable in my skin. Little ankle biters, nose miners |
| 831 | 01:11:47 --> 01:11:50 | out there that like to troll. They'll say, Oh, he doesn't know what he's |
| 832 | 01:11:50 --> 01:11:55 | doing. But I guarantee you, if you showed your P L today, if you even have |
| 833 | 01:11:55 --> 01:12:00 | money or an account at all, you've lost money today, and you probably were |
| 834 | 01:12:00 --> 01:12:05 | stressed out, freaking out, or you did something that wasn't even your model. |
| 835 | 01:12:05 --> 01:12:08 | You just want to do something that was contrary. So you can go on social media |
| 836 | 01:12:08 --> 01:12:11 | and say, Look at this. I'm not here to do that. If you want to measure your |
| 837 | 01:12:11 --> 01:12:15 | dick, I'm out here. I'll weigh mine on the table. It's no problem. But none of |
| 838 | 01:12:15 --> 01:12:19 | them guys are doing it, but they'll come back and they'll give you all this stuff |
| 839 | 01:12:19 --> 01:12:23 | to discourage you or make you second guess it. I'm here telling you how to |
| 840 | 01:12:24 --> 01:12:29 | engage this, how to see it for what it really is, and when it's clean, price |
| 841 | 01:12:29 --> 01:12:33 | action, when it's going to be real fluid, it's real easy. It's easy to see |
| 842 | 01:12:33 --> 01:12:37 | the setups and they just run. That's what you'll see. And spot those |
| 843 | 01:12:37 --> 01:12:42 | conditions easier, and you'll be able to recognize them by studying when the |
| 844 | 01:12:42 --> 01:12:49 | market's like this, knowing when you're going to be walking in quagmire, like a |
| 845 | 01:12:49 --> 01:12:56 | swamp. The fastest guy in the world can't run his his speed in ankle deep |
| 846 | 01:12:56 --> 01:13:01 | water or mud. It just ain't going to happen. Anybody else would be running |
| 847 | 01:13:01 --> 01:13:07 | basically the same speed because they're all playing in the same field. Well, |
| 848 | 01:13:07 --> 01:13:10 | we're all trading the same market right now. Everybody's seeing the same high |
| 849 | 01:13:10 --> 01:13:14 | and low. Everyone's seeing the same fluctuation in price action. But not |
| 850 | 01:13:14 --> 01:13:18 | everybody has the same expectation. Not everybody is out here trying to run a |
| 851 | 01:13:18 --> 01:13:27 | marathon in it. I'm not, and I have a great deal of affinity for the people |
| 852 | 01:13:27 --> 01:13:31 | that are online, that do stream, that are honest, and they say, You know what? |
| 853 | 01:13:33 --> 01:13:36 | I just don't feel like I should do anything right now. I'm going to stay |
| 854 | 01:13:36 --> 01:13:41 | with the stream. I'll, I'll give some commentary, but I don't trust myself in |
| 855 | 01:13:41 --> 01:13:46 | this environment. You know what that is? That's maturity. That's someone that has |
| 856 | 01:13:46 --> 01:13:52 | done the work they've done themselves in in the past. They've learned from that |
| 857 | 01:13:52 --> 01:13:55 | experience, and now they're being responsible as a trader. They're being |
| 858 | 01:13:55 --> 01:13:59 | responsible with their audience. They're being responsible with their own |
| 859 | 01:13:59 --> 01:14:07 | actions. Verse like, contrast that with the the opposite. Well, we're doing this |
| 860 | 01:14:07 --> 01:14:13 | show here. We're here to entertain you. And you know what, if something happens, |
| 861 | 01:14:14 --> 01:14:20 | we all can just go and pay for another reset. It's time to take some inventory. |
| 862 | 01:14:21 --> 01:14:26 | Who's influencing you? How are they influencing you? Are you better for the |
| 863 | 01:14:26 --> 01:14:31 | influence they have instilled into you, or the influence they have hold over you |
| 864 | 01:14:31 --> 01:14:41 | with? Are you more improved as a traitor by allowing these individuals to |
| 865 | 01:14:41 --> 01:14:45 | influence you, or are they actually holding you back? Are they encouraging |
| 866 | 01:14:45 --> 01:14:49 | bad habits that you can't recognize? These are the same people they're going |
| 867 | 01:14:49 --> 01:14:54 | to tell you they don't journal cuz journal takes effort. Journaling takes |
| 868 | 01:14:54 --> 01:14:58 | accountability into question, and you have to be accountable if you're not |
| 869 | 01:14:58 --> 01:15:03 | going to be accountable to your. Self, who's going to be accountable for you, |
| 870 | 01:15:03 --> 01:15:07 | your balance is that's the one that you'll never be able to argue with that |
| 871 | 01:15:07 --> 01:15:11 | the balance in your equity, the amount of money that you've made or lost, and |
| 872 | 01:15:11 --> 01:15:17 | what you have right now, what's left. That's who you're accountable to. But |
| 873 | 01:15:17 --> 01:15:21 | you put blinders onto it. Oh, you know, I can just reset. I'll just put more |
| 874 | 01:15:21 --> 01:15:26 | money in it. How long do you want to how long you want to keep doing it before |
| 875 | 01:15:26 --> 01:15:30 | you start getting better? You have to recognize when these odds are stacked |
| 876 | 01:15:30 --> 01:15:37 | against you. Everything in the market is there for us to see, but sometimes, |
| 877 | 01:15:38 --> 01:15:44 | sometimes these opportunities are cleverly disguised in possibilities. |
| 878 | 01:15:46 --> 01:15:51 | That means that you can see it. It's like that carrot dangling in front of |
| 879 | 01:15:52 --> 01:15:56 | you that that horse or that donkey, it'll keep running towards that carrot, |
| 880 | 01:15:56 --> 01:16:01 | not realizing, because it's stupid, that it's never going to get it, but they |
| 881 | 01:16:01 --> 01:16:04 | keep chasing after it. You're doing the same thing with your trading because you |
| 882 | 01:16:04 --> 01:16:07 | don't recognize what you're doing. You're stuck on the treadmill. You're |
| 883 | 01:16:07 --> 01:16:10 | not gaining any ground, you're just spinning the wheels. The only people |
| 884 | 01:16:10 --> 01:16:13 | that's making money are these funded account firms that are getting resets, |
| 885 | 01:16:13 --> 01:16:16 | and the people that run their affiliate links, they're getting paid back in |
| 886 | 01:16:16 --> 01:16:22 | commission and or the brokers getting commission costs, fees, and you're |
| 887 | 01:16:22 --> 01:16:25 | making nothing. So you gotta stop thinking about, I gotta get back to |
| 888 | 01:16:25 --> 01:16:30 | break even. You didn't start to be a break even trader. There's nothing wrong |
| 889 | 01:16:30 --> 01:16:35 | with being a break even trader. You know where you make a little bit of money and |
| 890 | 01:16:35 --> 01:16:38 | you lose it when you go down a little bit and you come back to break even, |
| 891 | 01:16:38 --> 01:16:41 | just by the natural progress of you you doing what you're doing and while you're |
| 892 | 01:16:41 --> 01:16:47 | learning, but that's not what you started. And you have to recognize how |
| 893 | 01:16:47 --> 01:16:51 | you're going to blow it. You're going to do that initially by how you think and |
| 894 | 01:16:51 --> 01:16:56 | how you behave and what impulses that you submit yourself to, and that's what |
| 895 | 01:16:56 --> 01:17:00 | journaling helps you recognize. And you have to be honest and be sweet to |
| 896 | 01:17:00 --> 01:17:05 | yourself with with positive self talk. That means you're counseling yourself |
| 897 | 01:17:06 --> 01:17:10 | treat yourself as that inner child that you're trying to nurture, not beat up or |
| 898 | 01:17:10 --> 01:17:16 | abuse. And the other half is how you're going to fall victim in the marketplace. |
| 899 | 01:17:16 --> 01:17:20 | So when there's going to be a day where it's going to probably be a little bit |
| 900 | 01:17:20 --> 01:17:26 | more reluctant to behave like you would like it to do you have a choice. You can |
| 901 | 01:17:26 --> 01:17:30 | sit in front of it, take Read It For experience, and then be thankful that |
| 902 | 01:17:30 --> 01:17:34 | you didn't put real money or execution behind it that causes you harm, or turn |
| 903 | 01:17:34 --> 01:17:38 | the charts off and come back after the market closes and be rewarded that you |
| 904 | 01:17:38 --> 01:17:45 | had the discipline, the maturity, the foresight to know that. I know that |
| 905 | 01:17:45 --> 01:17:48 | there was people out there that did something in this market today, and they |
| 906 | 01:17:48 --> 01:17:51 | got hurt, and they're frustrated because they want the market to run higher. They |
| 907 | 01:17:51 --> 01:17:54 | want the market to run lower. And it's been back and forth, retracement back |
| 908 | 01:17:54 --> 01:17:57 | and forth, retracements. And it's not really, it's not really moving a whole |
| 909 | 01:17:57 --> 01:18:01 | lot. There's setups here. There absolutely are setups here, but I'm |
| 910 | 01:18:01 --> 01:18:06 | trying to remind you, as a beginning student or a novice that's maybe been |
| 911 | 01:18:06 --> 01:18:10 | around me for a year or so, you're still not equipped to trade in environments |
| 912 | 01:18:10 --> 01:18:14 | like this. If you made money, you might think to yourself, oh, you not me. I see |
| 913 | 01:18:14 --> 01:18:17 | because look at this trade, and you maybe probably already sent me a tweet |
| 914 | 01:18:17 --> 01:18:18 | saying what you did. |
| 915 | 01:18:19 --> 01:18:25 | I don't congratulate anybody in there, because I'm trying to remind you all as |
| 916 | 01:18:25 --> 01:18:31 | a collection of my students, that it's nothing wrong about you having seen this |
| 917 | 01:18:31 --> 01:18:36 | day initially as an opportunity and then fell victim to it. That's actually good. |
| 918 | 01:18:36 --> 01:18:40 | Now you have something to measure your future expectations against. Now you |
| 919 | 01:18:40 --> 01:18:46 | have a I touched a burning hot pot. I got burned. I don't need to do that 17 |
| 920 | 01:18:46 --> 01:18:53 | times to realize doing that is going to cause me harm. So the takeaway is this, |
| 921 | 01:18:53 --> 01:19:00 | we can see that the gap higher in the opening at 930 was higher than the price |
| 922 | 01:19:00 --> 01:19:06 | at 414 yesterday. That means the initial bias during the opening range is |
| 923 | 01:19:06 --> 01:19:12 | bearish. We know that 70% of time, half of that opening range gap gets filled or |
| 924 | 01:19:12 --> 01:19:17 | treated to in that first 30 minutes, between 930 and 10 o'clock in the |
| 925 | 01:19:17 --> 01:19:23 | morning, Eastern Time on a Friday. We know that there's a likelihood that the |
| 926 | 01:19:23 --> 01:19:27 | market will want to retrace 20 to 30% of the weekly range I said I was going to |
| 927 | 01:19:27 --> 01:19:28 | show you that. So I |
| 928 | 01:19:44 --> 01:19:49 | All right, so we have a weekly candlestick. You see that song up here |
| 929 | 01:19:49 --> 01:19:57 | upper left hand corner? Yes. That means every huh, yes, you lose your voice. The |
| 930 | 01:19:57 --> 01:20:03 | let's take all the annotations off real quick. Okay, so this is the weekly range |
| 931 | 01:20:03 --> 01:20:12 | for this individual week we're in right now. If we take the low, draw it all to |
| 932 | 01:20:12 --> 01:20:18 | the highest, high, go into your fib settings you don't need to have. So what |
| 933 | 01:20:18 --> 01:20:24 | you're gonna do is you're gonna take the 0.25 that I have here. Whenever I'm |
| 934 | 01:20:24 --> 01:20:31 | doing the TGIF measurement, I just take the five off and then toggle the 0.3 so |
| 935 | 01:20:31 --> 01:20:35 | what that's going to show me is 20% and 30% respectively on the range. And |
| 936 | 01:20:35 --> 01:20:40 | here's 20% retracing from the highest high the week, and here's 30% of the |
| 937 | 01:20:40 --> 01:20:44 | range. So having this on the chart now we can go into |
| 938 | 01:20:51 --> 01:21:05 | let's do a 15 minute time frame. So we opened up here and the 20,004 21 level, |
| 939 | 01:21:06 --> 01:21:11 | that's this one right here. We opened here on a Friday. We had a gap higher |
| 940 | 01:21:11 --> 01:21:16 | opening. So right away, you already know that the initial bias is for the first |
| 941 | 01:21:16 --> 01:21:20 | 30 minutes, it's going to go down to half of the gap. So half of that gap |
| 942 | 01:21:20 --> 01:21:21 | over here. |
| 943 | 01:21:29 --> 01:21:37 | That's not correct. Let me. Let me do this one minute chart. Very good trading |
| 944 | 01:21:37 --> 01:21:40 | hours. There we are. |
| 945 | 01:21:47 --> 01:21:52 | And now in this bit, we're just going to highlight the midpoint the 50 level, and |
| 946 | 01:21:52 --> 01:21:56 | we take these off because we're not measuring the weekly range that we have |
| 947 | 01:21:56 --> 01:22:02 | here. So we have the higher gap opening here at 930 So right away, we know in |
| 948 | 01:22:02 --> 01:22:06 | our mind, our expectation is it could, for the first few minutes, flurry a |
| 949 | 01:22:06 --> 01:22:09 | little bit higher, but ultimately it's going to draw to that level there. |
| 950 | 01:22:10 --> 01:22:14 | Because as soon as we get that first opening price at 930 that's a static |
| 951 | 01:22:14 --> 01:22:18 | Price Limit, a static price point. It's not moving. It's not dynamic. It's not |
| 952 | 01:22:18 --> 01:22:22 | fluctuating around. We can still make a higher high on the day in the first few |
| 953 | 01:22:22 --> 01:22:26 | minutes of the opening range. But that constant, which is the opening price at |
| 954 | 01:22:26 --> 01:22:32 | 930 relative to yesterday's 414, we had that measurement that tells us this is |
| 955 | 01:22:32 --> 01:22:36 | where 70% of time that price is getting hit in the in the first 30 minutes. |
| 956 | 01:22:36 --> 01:22:39 | Sometimes it might take a little bit longer than that, but statistically, |
| 957 | 01:22:40 --> 01:22:46 | they're all seeing it now. And I promise you, if you have that mentality and |
| 958 | 01:22:46 --> 01:22:51 | expectation, is going to serve you well. So if you have, for instance, this here, |
| 959 | 01:22:51 --> 01:22:59 | we can then go into a woman or the i |
| 960 | 01:23:11 --> 01:23:12 | It's 930-931-3233. |
| 961 | 01:23:17 --> 01:23:25 | 34 so 34 has your first fair Vega there on the moment chart. So we we create |
| 962 | 01:23:25 --> 01:23:31 | that fair Vega trade down, back up. You can be short there with the expectation |
| 963 | 01:23:31 --> 01:23:37 | that it's going to go to the mid gap. So you have a 7% built in advantage that |
| 964 | 01:23:37 --> 01:23:44 | that trade there is likely to pan out. Add to it. It's Friday. TGI, thank God, |
| 965 | 01:23:44 --> 01:23:50 | it's Friday. So that means we also have the 20% level. See, watch what I'm I'm |
| 966 | 01:23:50 --> 01:23:53 | taking my pressure. I'm laying it right on top that blue line. Look at the price |
| 967 | 01:23:53 --> 01:23:58 | on the right hand side. See it. It's also showing it on the weekly chart on |
| 968 | 01:23:58 --> 01:24:05 | the left hand side, see I'm putting it right there. So it's 421, and 421 on the |
| 969 | 01:24:05 --> 01:24:12 | one minute chart. See it? Yes. So that's 20% of the weekly range. So TGIF is, if |
| 970 | 01:24:12 --> 01:24:17 | we're bearish, we're expecting 20% to 30% of the weekly range to be drawn down |
| 971 | 01:24:17 --> 01:24:21 | to when it's been a bullish week, when it's been a bearish week, we're |
| 972 | 01:24:21 --> 01:24:26 | expecting the price to retrace higher to 20 to 30% of the weekly range. Okay, you |
| 973 | 01:24:27 --> 01:24:32 | understand, yes, right? So now, because we have an opening gap here, we already |
| 974 | 01:24:32 --> 01:24:36 | naturally have a built in 70% likelihood that it's going to trade down here. So |
| 975 | 01:24:36 --> 01:24:40 | what can you use this level for a partial so if you got short here, |
| 976 | 01:24:40 --> 01:24:43 | there's going to be exercises I put you through where as soon as you get an |
| 977 | 01:24:43 --> 01:24:49 | opening price like this, you're going to sell short. You're going to use a 3030 |
| 978 | 01:24:49 --> 01:24:55 | handle stop loss and see which one gets hit first. These are all things that I |
| 979 | 01:24:55 --> 01:25:01 | did in the marketplace when I was using currency futures. You. I would use it |
| 980 | 01:25:01 --> 01:25:04 | with the British pound futures contracted Deutsche Mark was doesn't |
| 981 | 01:25:04 --> 01:25:13 | trade anymore, the Japanese yen and Canadian ballot. Those were my com dots |
| 982 | 01:25:13 --> 01:25:18 | that I would commodity dollars. I would use this, that mechanism, to build my |
| 983 | 01:25:18 --> 01:25:23 | initial day trading with, with this idea, because in currency futures, there |
| 984 | 01:25:23 --> 01:25:28 | would be gap openings. And I was using this like this. This is my criteria when |
| 985 | 01:25:28 --> 01:25:36 | I was trading currency futures. So because it works in universal markets, |
| 986 | 01:25:36 --> 01:25:40 | where you can see the difference between where it was yesterday and where it is |
| 987 | 01:25:40 --> 01:25:44 | today, even if it trades 24 hours now, some markets, you still refer back to |
| 988 | 01:25:44 --> 01:25:48 | the same price points that I'm teaching, and you'll see that there's a gap, even |
| 989 | 01:25:48 --> 01:25:52 | though there isn't a technically visible gap, like we have regular trading hours |
| 990 | 01:25:52 --> 01:25:56 | and electronic trading hours in the index features here. There are markets |
| 991 | 01:25:56 --> 01:26:01 | that don't have that, like for us, it doesn't change. It go back and use the |
| 992 | 01:26:01 --> 01:26:07 | same reference points, and you'll have a simulation that would be used the same |
| 993 | 01:26:07 --> 01:26:11 | way, as if it was a gap there. So these are all things I can talk about, where |
| 994 | 01:26:12 --> 01:26:15 | things that aren't technically in the chart, I'm I'm looking at it that way, |
| 995 | 01:26:15 --> 01:26:19 | where everybody else would not even think of it. It's not even it's not in |
| 996 | 01:26:19 --> 01:26:25 | their their expectation of what would be reasonable to seeing, like chasing |
| 997 | 01:26:25 --> 01:26:30 | information based on that type of perspective, when there's a market where |
| 998 | 01:26:30 --> 01:26:35 | it doesn't have electronic trading or record trading gaps, well, the question |
| 999 | 01:26:35 --> 01:26:39 | is, is, well, how is this useful to me? ICT, I trade Forex, and we don't have |
| 1000 | 01:26:39 --> 01:26:44 | that you do, because these reference points are referred to by the algorithm. |
| 1001 | 01:26:44 --> 01:26:48 | Just because you don't see a gap in your chart or your platform doesn't mean that |
| 1002 | 01:26:48 --> 01:26:52 | the algorithm is not referring at the same price points by time. And when you |
| 1003 | 01:26:52 --> 01:26:55 | start doing that, it's like, oh, wow, I didn't I didn't see that, right? That's |
| 1004 | 01:26:55 --> 01:26:59 | why all of you are losing money. That's why you're all clueless. But you have |
| 1005 | 01:26:59 --> 01:27:03 | built in advance to 70% being short rate from the open from the opening bell |
| 1006 | 01:27:04 --> 01:27:09 | trading down to 70% likelihood of that midday and filled so you have a built in |
| 1007 | 01:27:09 --> 01:27:14 | advantage for 30 minutes. You have a sweet spot where you have so many things |
| 1008 | 01:27:14 --> 01:27:19 | in your favor, versus in contrast that with trading anything outside of this |
| 1009 | 01:27:19 --> 01:27:23 | you don't know, like, you don't know, you don't have any data that suggests |
| 1010 | 01:27:23 --> 01:27:26 | that that fucking bull flag you think is in the shark is going to do anything. It |
| 1011 | 01:27:26 --> 01:27:30 | doesn't mean just because you see a price pattern, it's going to do |
| 1012 | 01:27:30 --> 01:27:34 | something. That is the absolute asinine thing that I fell victim to for years in |
| 1013 | 01:27:34 --> 01:27:38 | beginning. And there's people coming into this market all the time, and they |
| 1014 | 01:27:38 --> 01:27:42 | buy into that bullshit, and they think, Oh, well, you know the books tell me |
| 1015 | 01:27:42 --> 01:27:46 | this ICT and you're foolish. That's not in the book, so therefore it can't be |
| 1016 | 01:27:46 --> 01:27:53 | real. It's crazy, but you have a 70% chance is here from the opening bell. |
| 1017 | 01:27:53 --> 01:27:59 | But then you have 20% a weekly range. So this could be your target for first |
| 1018 | 01:27:59 --> 01:28:03 | partial aim for this. But what happens if it just goes there? Is it likely to |
| 1019 | 01:28:03 --> 01:28:07 | stop there? No How far can it go? Well, you got 30% right there on the weekly |
| 1020 | 01:28:07 --> 01:28:15 | range. So TGIF is giving you what partial target the market comes right |
| 1021 | 01:28:15 --> 01:28:19 | back up to 30% of the weekly range. Isn't that interesting? Isn't that |
| 1022 | 01:28:19 --> 01:28:22 | interesting how that happened? It's actually happening inside of a fair |
| 1023 | 01:28:22 --> 01:28:26 | value gap as well. And then you might the market rolls over one more time into |
| 1024 | 01:28:26 --> 01:28:31 | an inefficiency there and breaks down. So what you're doing is is you're trying |
| 1025 | 01:28:31 --> 01:28:38 | to frame conditions where you have everything in your favor, and it's hard |
| 1026 | 01:28:38 --> 01:28:43 | to find something that would be opposing it. Does that make sense? Yes, there are |
| 1027 | 01:28:43 --> 01:28:47 | going to be times where what you're trying to do is going to be met with |
| 1028 | 01:28:48 --> 01:28:51 | opposition, where price is simply just not going to it's not going to behave. |
| 1029 | 01:28:51 --> 01:28:54 | It's not going to bend to your will. It's not going to bend to your model. |
| 1030 | 01:28:54 --> 01:28:58 | It's not going to bend to your time being in the chart and wanting to take a |
| 1031 | 01:28:58 --> 01:29:02 | trade because this is the time you're off that week, at that day or that time, |
| 1032 | 01:29:02 --> 01:29:06 | or you got up out of your normal sleep schedule to trade this because it's not |
| 1033 | 01:29:06 --> 01:29:12 | something you normally do. So therefore you have more expectation or more demand |
| 1034 | 01:29:13 --> 01:29:18 | out of the market and out of what you're trying to do than any other time. So |
| 1035 | 01:29:18 --> 01:29:22 | you're creating these hostile conditions where you have to perform. The market |
| 1036 | 01:29:22 --> 01:29:27 | has to do what you want to do. So you've emotionally charged everything. You've |
| 1037 | 01:29:27 --> 01:29:31 | expected the market to bend to your will. You've expected your model to be |
| 1038 | 01:29:31 --> 01:29:34 | perfect. You expected yourself to make money. And then you have a market |
| 1039 | 01:29:34 --> 01:29:38 | environment like today, where it's just saying, Yeah, I'll get real close to it. |
| 1040 | 01:29:38 --> 01:29:43 | Get you excited. Get your real wet. That's a cold shoulder, and it's very, |
| 1041 | 01:29:43 --> 01:29:47 | very frustrating. It's extremely frustrating if you don't recognize |
| 1042 | 01:29:47 --> 01:29:52 | that's what this type of market's going to do. And then by having that |
| 1043 | 01:29:52 --> 01:29:59 | understanding, it'll allow you to hold if you have initial entries early in the |
| 1044 | 01:29:59 --> 01:30:05 | day, you. Or before the session starts, pre session, you don't rush your stop |
| 1045 | 01:30:05 --> 01:30:11 | loss into that range. You let it stay back a little while. And if you watch |
| 1046 | 01:30:11 --> 01:30:15 | some of the executions I shared, lot of questions come up with, why do some of |
| 1047 | 01:30:15 --> 01:30:20 | your trades where you'll move the stop loss down or up in deference to what I |
| 1048 | 01:30:20 --> 01:30:24 | was, you know, in the trade, for what was your bearish and then there's other |
| 1049 | 01:30:24 --> 01:30:27 | trades where I'm in there and I leave my stop, just covering costs, and maybe, |
| 1050 | 01:30:27 --> 01:30:32 | you know, a couple 100 hours or grand. Why? Why am I doing this types of |
| 1051 | 01:30:32 --> 01:30:37 | things? And the response is in this video here, based on what the market's |
| 1052 | 01:30:37 --> 01:30:41 | doing and what I think it's going to behave like, how is it going to behave? |
| 1053 | 01:30:41 --> 01:30:46 | How is it going to deliver price? Is it going to be in low resistance liquidity |
| 1054 | 01:30:46 --> 01:30:49 | run conditions where it's just going to be a liquid, fluid market, where it just |
| 1055 | 01:30:49 --> 01:30:53 | runs real easy to my targets, it's not going to hem and haul spend a lot of |
| 1056 | 01:30:53 --> 01:30:57 | time bouncing around before it does it. Or is it going to be high resistance |
| 1057 | 01:30:57 --> 01:31:03 | liquidity runs, where I may have entered expecting something to happen, and then |
| 1058 | 01:31:03 --> 01:31:08 | something changes, because it's manual intervene. High resistance liquidity |
| 1059 | 01:31:08 --> 01:31:14 | runs, most times are manually intervened. That means they're in there |
| 1060 | 01:31:14 --> 01:31:19 | tinkering with it. They're trying to screw with the the open interest in the |
| 1061 | 01:31:19 --> 01:31:23 | market at that given time of that session, the only time that it's not |
| 1062 | 01:31:23 --> 01:31:30 | doing it like that is just the head of like FOMC, a Non Farm Payroll, CPI, PPI |
| 1063 | 01:31:30 --> 01:31:35 | number, something that's a big red folder event that usually comes in the |
| 1064 | 01:31:35 --> 01:31:40 | marketplace like a landslide and just decimates people initially. What will |
| 1065 | 01:31:40 --> 01:31:46 | happen is the market just marks time and just bangs around sideways. And that's |
| 1066 | 01:31:46 --> 01:31:52 | not a it's not a time for you to trade. But when it's trading in a high |
| 1067 | 01:31:52 --> 01:31:56 | resistance liquidity condition like we've had this morning, there are trades |
| 1068 | 01:31:56 --> 01:32:00 | there, but you're not likely to have the skill set to recognize that they're |
| 1069 | 01:32:00 --> 01:32:05 | going to deeply retrace on you. They may consolidate a little bit, move down in |
| 1070 | 01:32:05 --> 01:32:09 | your favor, then come back up and run against what any trail stop loss would |
| 1071 | 01:32:09 --> 01:32:13 | be used for, and then you're stuck. You don't get that. You don't get the |
| 1072 | 01:32:13 --> 01:32:16 | payout, but you get the frustration at the end of the day or end the session, |
| 1073 | 01:32:16 --> 01:32:20 | where I was I was right about my trade. ICT, I get these all the time. I was |
| 1074 | 01:32:20 --> 01:32:23 | right about my trade, but I got stopped out and I got chewed up. I got beat up. |
| 1075 | 01:32:23 --> 01:32:28 | The shop is real, you know, all that kind of stuff. It's simply not knowing |
| 1076 | 01:32:28 --> 01:32:31 | what the characteristics are going to be like before the trading starts. And |
| 1077 | 01:32:31 --> 01:32:36 | that's experience. There's also ways that we're we're outlining here today, |
| 1078 | 01:32:36 --> 01:32:40 | the larger the gap, the less likely that is going to happen. Let's put it that |
| 1079 | 01:32:40 --> 01:32:45 | way, if I was going to make a bullet point list of what are the signatures |
| 1080 | 01:32:45 --> 01:32:50 | that make a high resistance liquidity run signature, a lackluster opening |
| 1081 | 01:32:50 --> 01:32:57 | price gap or opening range gap, less than 75 handles. So right away, if it's |
| 1082 | 01:32:57 --> 01:33:01 | less than 75 handles of the opening range gap that already invites the |
| 1083 | 01:33:01 --> 01:33:05 | likelihood of a lethargic, slow morning doesn't mean it won't trade. It just |
| 1084 | 01:33:05 --> 01:33:10 | means, by definition, that's usually a hallmark that starts it right away, and |
| 1085 | 01:33:10 --> 01:33:15 | the less that is. If it's under 40, you definitely have a lackluster morning |
| 1086 | 01:33:15 --> 01:33:15 | coming. |
| 1087 | 01:33:16 --> 01:33:23 | So if it's 75 candles or less, you know, I'm still expecting it could happen. |
| 1088 | 01:33:23 --> 01:33:27 | That's why I'm watching that first 30 minutes, because the first 30 minutes is |
| 1089 | 01:33:27 --> 01:33:30 | going to give me the information I need to say, Okay, we're in low resistance or |
| 1090 | 01:33:30 --> 01:33:36 | high resistance conditions. You want to recognize as soon as you can if we're in |
| 1091 | 01:33:36 --> 01:33:39 | low resistance, liquidity run, because if we are, your trades are going to be |
| 1092 | 01:33:39 --> 01:33:41 | easy, they're going to be they're going to be fast. They're going to be |
| 1093 | 01:33:41 --> 01:33:45 | immediate feedback. You're going to get right to your targets. And your day is |
| 1094 | 01:33:45 --> 01:33:51 | going to be just quick. It's going to be quick, low stress day. But if you start |
| 1095 | 01:33:51 --> 01:33:59 | recognizing, because we have a an anemic gap opening, if the market is trading in |
| 1096 | 01:33:59 --> 01:34:05 | a manner where it's just not trying to go to a liquidity quickly, and it's |
| 1097 | 01:34:05 --> 01:34:10 | spending a whole lot of time inside of inefficiencies, inside of gaps. What |
| 1098 | 01:34:10 --> 01:34:20 | does that mean? Let's go back into the one minute chart over here left. I'm I |
| 1099 | 01:34:23 --> 01:34:26 | actually now go back to rolling this and add the |
| 1100 | 01:34:33 --> 01:34:40 | control Z baby, I'll get a message from from the guys that know how to use |
| 1101 | 01:34:40 --> 01:34:43 | trading view a lot better than me, and they'll be like, ICT. This is how you |
| 1102 | 01:34:43 --> 01:34:46 | can do this. This, this, I love that. I have no shame in telling you that most |
| 1103 | 01:34:46 --> 01:34:50 | students have taught me more about trading view than I cared to know |
| 1104 | 01:34:50 --> 01:34:55 | really. I mean, because some of them are really cool things. So see how we had a |
| 1105 | 01:34:55 --> 01:35:02 | lot of time inside that gap here. This. Your this is your gap. Okay, so we spent |
| 1106 | 01:35:02 --> 01:35:07 | a lot of time chopping around in there. How many times did we hit this when we |
| 1107 | 01:35:07 --> 01:35:11 | hit consequent pressure like this and came right back up into it here? It |
| 1108 | 01:35:11 --> 01:35:16 | should have failed at that point and broke lower, but it didn't see. It did. |
| 1109 | 01:35:16 --> 01:35:20 | It did all this type of movement that right there was telling me, okay, just |
| 1110 | 01:35:20 --> 01:35:24 | chill. And I told you, I said memorize telling you at the beginning of the |
| 1111 | 01:35:24 --> 01:35:28 | session it's going to be a lackluster morning session. That means slow your |
| 1112 | 01:35:28 --> 01:35:32 | roll. That means don't try to press the button. That means expect it to be |
| 1113 | 01:35:32 --> 01:35:38 | harder than we want it to be easy. But now this is indicating that it's telling |
| 1114 | 01:35:38 --> 01:35:43 | you it's not hiding it. But you just never had anyone sit down explain to you |
| 1115 | 01:35:43 --> 01:35:46 | how to see it, how to recognize that this is going to be hard trading |
| 1116 | 01:35:46 --> 01:35:50 | conditions versus the days that are just real clean price action. This market |
| 1117 | 01:35:50 --> 01:35:55 | just takes off and runs, and until you spend time with me, or you go through |
| 1118 | 01:35:55 --> 01:35:58 | your charts and you look for these types of things, you're not going to |
| 1119 | 01:35:58 --> 01:36:02 | appreciate the insight that it gives you, because it gives you an unfair |
| 1120 | 01:36:02 --> 01:36:06 | advantage against everybody else. Everybody else is out there trying to do |
| 1121 | 01:36:06 --> 01:36:10 | the same thing. I want to take a trade. I have made myself sit down in front of |
| 1122 | 01:36:10 --> 01:36:13 | these charts and damn it, I'm going to make a trade. I'm going to find |
| 1123 | 01:36:13 --> 01:36:17 | something. I have to have it. I'm a trader. After all, it's in the name I |
| 1124 | 01:36:17 --> 01:36:22 | have to trade. That's bullshit, because what you're saying is, is you want to |
| 1125 | 01:36:22 --> 01:36:27 | gamble, but call it trading. You want to impulsively make decisions that are |
| 1126 | 01:36:27 --> 01:36:32 | without logic, but you want to call that informed trading. You want to do |
| 1127 | 01:36:32 --> 01:36:37 | something and chase price and call it informed decision making. And I'm |
| 1128 | 01:36:37 --> 01:36:42 | telling you with someone that's three decades experience, all that stuff leads |
| 1129 | 01:36:42 --> 01:36:46 | to ruin. Given enough opportunity and time doing it that way, you will lose |
| 1130 | 01:36:47 --> 01:36:52 | and you're going to absolutely hate it. You won't enjoy trading. You won't enjoy |
| 1131 | 01:36:52 --> 01:36:56 | studying and journaling and building your enterprise, your your business is |
| 1132 | 01:36:56 --> 01:37:01 | you, you incorporated. So isn't it advantageous for you to say, Okay, what |
| 1133 | 01:37:01 --> 01:37:05 | barriers do I have in front of me? Think about every corporation has these |
| 1134 | 01:37:05 --> 01:37:08 | corporate meetings, these they have board meetings. They have their employee |
| 1135 | 01:37:08 --> 01:37:13 | management. Every time I was in corporate positions at nine o'clock, |
| 1136 | 01:37:13 --> 01:37:17 | that was the war room. We had to sit down with other department heads, other |
| 1137 | 01:37:17 --> 01:37:21 | managers and and we would look at our KPIs, our performance measurements, and |
| 1138 | 01:37:21 --> 01:37:26 | if things were slipping in front of our peers, we were told, Look, this is |
| 1139 | 01:37:26 --> 01:37:30 | something's going on. Is there another department or something else impacting |
| 1140 | 01:37:30 --> 01:37:36 | your ability to meet your KPIs or Excel? And we hashed it out. Sometimes it was |
| 1141 | 01:37:36 --> 01:37:40 | drama, sometimes it was everybody's doing, right? Great, but you have to |
| 1142 | 01:37:40 --> 01:37:44 | have that same board meeting with yourself every single day in your |
| 1143 | 01:37:44 --> 01:37:47 | journal, and you have to have the expectation that you're doing that for |
| 1144 | 01:37:47 --> 01:37:52 | the embedment for yourself as the corporation you incorporated, your |
| 1145 | 01:37:52 --> 01:37:58 | business is not gambling. Your business is trading and managing risk, and the |
| 1146 | 01:37:58 --> 01:38:02 | first rule in managing risk is recognizing when that risk is going to |
| 1147 | 01:38:02 --> 01:38:09 | be elevated, having an understanding of how to discern when the market's going |
| 1148 | 01:38:09 --> 01:38:15 | to be a harder adversary today than another day, where you're going to be |
| 1149 | 01:38:15 --> 01:38:18 | more equipped to trade your model and it's going to be quick, easy, sudden, |
| 1150 | 01:38:18 --> 01:38:23 | delivered to your price or your targets. Looking at this, you can see there's |
| 1151 | 01:38:23 --> 01:38:29 | trades there. I'm going to give you a minute while I take a drink using the 15 |
| 1152 | 01:38:29 --> 01:38:33 | second chart, everything that's outlined here on the chart right now. Can you |
| 1153 | 01:38:33 --> 01:38:40 | see, can you find at least two setups? Don't rush through it. Just take your |
| 1154 | 01:38:40 --> 01:38:40 | time. Look through it, because |
| 1155 | 01:38:46 --> 01:38:51 | when you get home at nighttime, when you're resting off, you want to go |
| 1156 | 01:38:51 --> 01:38:55 | through your charts looking at it. So even when it was a harder market, you |
| 1157 | 01:38:55 --> 01:39:00 | want to go back through and pick out where the setups work, and then look at |
| 1158 | 01:39:00 --> 01:39:05 | what was right before that setup finally panning out, because that's the keys of |
| 1159 | 01:39:05 --> 01:39:08 | understanding how to avoid these types of days and hurt them. I'm hurting you |
| 1160 | 01:39:08 --> 01:39:09 | rather I |
| 1161 | 01:39:20 --> 01:39:33 | the uncomfortable silence. |
| 1162 | 01:39:37 --> 01:39:41 | Remember, we recognize early on that it's going to be a lackluster day, that |
| 1163 | 01:39:41 --> 01:39:49 | means it's going to be high resistance. So that means your draw is down here. |
| 1164 | 01:39:50 --> 01:39:54 | That means everything is framed on the basis of it's going to eventually reach |
| 1165 | 01:39:54 --> 01:40:01 | for this relative equal low so knowing that your. Model is built around what |
| 1166 | 01:40:02 --> 01:40:07 | that first presented fair value. That's this darker rectangle up here. When we |
| 1167 | 01:40:07 --> 01:40:11 | first traded down through it, it came back up. It hit the consequent |
| 1168 | 01:40:11 --> 01:40:16 | encroachment. And we want to see price at that time displaced lower, and then |
| 1169 | 01:40:16 --> 01:40:22 | find something maybe on a 15 second chart in this, in this drop down in the |
| 1170 | 01:40:22 --> 01:40:27 | first retracement into a fair value gap. I'm speaking like this was the one |
| 1171 | 01:40:27 --> 01:40:33 | minute chart, but we're actually in the 15 second chart, yeah. But the the fair |
| 1172 | 01:40:33 --> 01:40:38 | value gap that would have formed on this 15 second chart, the first one would be |
| 1173 | 01:40:38 --> 01:40:46 | right in here. But look at the prices going in here. So we hit consequence one |
| 1174 | 01:40:46 --> 01:40:52 | more time. Step up onto it, hit the low of it here. Now that in itself, that is |
| 1175 | 01:40:52 --> 01:40:58 | something you want to see in a low resistance liquidity run condition where |
| 1176 | 01:40:58 --> 01:41:01 | it respects the level here and it respects the level here, but because we |
| 1177 | 01:41:01 --> 01:41:08 | went this many times into it here, here, here, it's doing what it's spending too |
| 1178 | 01:41:08 --> 01:41:16 | much time in your fair value guy, inefficiencies or gaps. You want them to |
| 1179 | 01:41:16 --> 01:41:23 | go in, stick their toe in the water and then run away. You just want to have one |
| 1180 | 01:41:23 --> 01:41:27 | quick High Five moment, and you're out of there. Come on, see it. You're not |
| 1181 | 01:41:27 --> 01:41:30 | trying to rub shoulders and elbows and and schmooze. You're not, you're not |
| 1182 | 01:41:30 --> 01:41:35 | trying to, you know, hang out in there. And if you start seeing price, have a |
| 1183 | 01:41:35 --> 01:41:39 | lot of interest getting back to that same area. If that's not good, above old |
| 1184 | 01:41:39 --> 01:41:44 | highs, it's okay to see that below old lows. It's okay to see that because |
| 1185 | 01:41:44 --> 01:41:49 | that's accumulation. You don't want to see accumulation inside of |
| 1186 | 01:41:49 --> 01:41:53 | inefficiencies. You want to see them enter it or touch it and then repel away |
| 1187 | 01:41:53 --> 01:41:58 | from the more times it touches. It's like, well, think about like trend |
| 1188 | 01:41:58 --> 01:42:02 | lines. Okay. When I first learned about trend lines is the more times the trend |
| 1189 | 01:42:02 --> 01:42:06 | line can be touched, the stronger the trend line. And that's the biggest |
| 1190 | 01:42:06 --> 01:42:10 | bullshit there is, too. Because if you're hoping that it's going to come |
| 1191 | 01:42:10 --> 01:42:13 | back and touch it multiple times, chances are it's going to go through it. |
| 1192 | 01:42:14 --> 01:42:19 | So the same thing is happening here. Touches the consequent encroachment. |
| 1193 | 01:42:19 --> 01:42:23 | Wonderful ideal world, it should have dropped right there, if it would have |
| 1194 | 01:42:23 --> 01:42:27 | done this wick here, and it just did that. Then at that time, it should have |
| 1195 | 01:42:27 --> 01:42:30 | dropped precipitously and immediately, should have ran right from there and |
| 1196 | 01:42:30 --> 01:42:35 | just gushed straight through this low and sped up right before we get to this |
| 1197 | 01:42:35 --> 01:42:40 | low Here, have some kind of retracement and then dump down into but that's not |
| 1198 | 01:42:40 --> 01:42:43 | going to happen on a day where it's going to be high resistance liquidity, |
| 1199 | 01:42:43 --> 01:42:47 | it's going to be met with a lot of back and forth, back and forth, back and |
| 1200 | 01:42:47 --> 01:42:54 | forth. So what's actually occurring is this, you have the shorts up here at the |
| 1201 | 01:42:54 --> 01:42:58 | opening bell. It drops the first retracement. That's optimal trade entry. |
| 1202 | 01:42:58 --> 01:43:04 | They're short there. Sells off. If they don't take partials, they're going to |
| 1203 | 01:43:04 --> 01:43:09 | have to weather this retracement, this retracement, and now we got relative |
| 1204 | 01:43:09 --> 01:43:15 | equal lows here. What is that doing? It's creating sellers below here, |
| 1205 | 01:43:16 --> 01:43:21 | because retail traders are going to see that's what it's bullish. We have a doji |
| 1206 | 01:43:21 --> 01:43:24 | down here. We got these relative lows. This is support. So now they're going to |
| 1207 | 01:43:24 --> 01:43:28 | do what they're going to look for, bull flags. Well, as the market rallies up, |
| 1208 | 01:43:28 --> 01:43:31 | it starts to consolidate in here. They think, wow, it's going to go higher if |
| 1209 | 01:43:31 --> 01:43:35 | they're long, where they're going to place their stop loss, right below here. |
| 1210 | 01:43:35 --> 01:43:40 | So what is that going to be? It's a sell stop. Well, that's wonderful, because |
| 1211 | 01:43:40 --> 01:43:45 | anyone that's trying to get short today, they have willing sellers at a low |
| 1212 | 01:43:45 --> 01:43:50 | price. Once it goes high into any retracement, it does. We have a |
| 1213 | 01:43:50 --> 01:43:57 | retracement here, but it spent a lot of time inside of your gap. It should have |
| 1214 | 01:43:57 --> 01:44:01 | dropped here. It should have dropped here. It didn't, and now that we're |
| 1215 | 01:44:01 --> 01:44:07 | marking time inside your your fair value gap, that's not something you want to |
| 1216 | 01:44:07 --> 01:44:12 | see. It's doing too much at a level that should have already had a high degree of |
| 1217 | 01:44:12 --> 01:44:17 | influence over price. This should have never been going on at all. But because |
| 1218 | 01:44:17 --> 01:44:23 | it's high resistance liquidity, it's holding it's holding price inside of a |
| 1219 | 01:44:23 --> 01:44:29 | range. What range is that? It's the high here and the low here. So who's been |
| 1220 | 01:44:29 --> 01:44:32 | making money at this point right here? Who's been making money the shorts? So |
| 1221 | 01:44:32 --> 01:44:36 | what are they going to run for their stops? Where's their stop going to be |
| 1222 | 01:44:36 --> 01:44:41 | above these highs? And it runs right up into the upper portion of the opening |
| 1223 | 01:44:41 --> 01:44:44 | range got. Remember earlier it was pink and I shaded into the white area. Do you |
| 1224 | 01:44:45 --> 01:44:50 | remember that? Yes, so when it ran up into that, I talked about how the body |
| 1225 | 01:44:50 --> 01:44:54 | stopped at that lower I'm sorry, the upper quadrant level of it, the width, |
| 1226 | 01:44:54 --> 01:44:59 | did the damage, but it left that upper portion open. That tells you that this |
| 1227 | 01:44:59 --> 01:45:04 | level down here is. To get hit. All they did was last little run on the stops up |
| 1228 | 01:45:04 --> 01:45:08 | here, and they left that small little portion open. That is an algorithm, |
| 1229 | 01:45:08 --> 01:45:12 | sorry, algorithmic signature. It's telling you. It's the algorithm tipping |
| 1230 | 01:45:12 --> 01:45:16 | its hand, saying, I didn't completely close it in. So that's your that's your |
| 1231 | 01:45:16 --> 01:45:20 | okay. It's going to happen now, if it would have completely closed it in and |
| 1232 | 01:45:20 --> 01:45:24 | traded outside of it, this would have been less likely to be traded to Is |
| 1233 | 01:45:24 --> 01:45:28 | there anything about what I just said that you don't understand? No fair value |
| 1234 | 01:45:28 --> 01:45:33 | gaps. When you're bearish, you want to see the upper half, but stay open a fair |
| 1235 | 01:45:33 --> 01:45:37 | value gap that's bullish, you want to see the lower half of it. Stay open in |
| 1236 | 01:45:37 --> 01:45:40 | here. What are you seeing if we're bearish and we're expecting price to |
| 1237 | 01:45:40 --> 01:45:44 | trade down here, and all things being equal, that we thought that from the |
| 1238 | 01:45:44 --> 01:45:48 | opening price, it's bearish, we have 70% opening range gap to be treated to, and |
| 1239 | 01:45:48 --> 01:45:53 | then once we get to the gap closure, we treat that whole entire range of that |
| 1240 | 01:45:53 --> 01:45:59 | opening range gap as a inefficiency, and you treat the same way as a fair value |
| 1241 | 01:45:59 --> 01:46:02 | gap. So if it's bearish, ideally you want to see any turning point when it |
| 1242 | 01:46:02 --> 01:46:07 | digs back up into it. Stop at the lower half the white area is the upper half of |
| 1243 | 01:46:07 --> 01:46:13 | that opening you got. We stabbed up into it. So that was that last little ditch |
| 1244 | 01:46:13 --> 01:46:18 | effort of doing what, wiping out anyone that's short, taking in anyone that |
| 1245 | 01:46:18 --> 01:46:22 | wants to go long, but they don't have to be a breakout artist here. So longs are |
| 1246 | 01:46:22 --> 01:46:27 | trapped. Long here shorts are stopped out because the long by breakout artists |
| 1247 | 01:46:27 --> 01:46:31 | and the short buy stop protection, they're being engaged with this rally |
| 1248 | 01:46:31 --> 01:46:38 | here. So this is your Judas. They can go back and listen to their stream where I |
| 1249 | 01:46:38 --> 01:46:42 | talked about how this is good, that open, and everything's still in play for |
| 1250 | 01:46:42 --> 01:46:46 | that to happen here. But the trolls will look at, oh, look at this. It went back |
| 1251 | 01:46:46 --> 01:46:50 | and forth, these things they ran through. That's exactly what's going to |
| 1252 | 01:46:50 --> 01:46:53 | happen on these days. So you have to know that this, you have to be a little |
| 1253 | 01:46:53 --> 01:47:00 | bit more flexible. But now, when it does this, price comes back down, eats right |
| 1254 | 01:47:00 --> 01:47:04 | through your fair Vega. It's exactly what you want to see. It leaves the |
| 1255 | 01:47:04 --> 01:47:07 | upper portion of opening range. Gap trades down through it and then comes |
| 1256 | 01:47:07 --> 01:47:15 | back up and kisses the low of that first fair value gap. That's your short that's |
| 1257 | 01:47:15 --> 01:47:21 | yours. Your stop loss has to be above your first fair value guy, and your |
| 1258 | 01:47:21 --> 01:47:24 | stop, in this case, because it's high resistance liquid, folks, this is the |
| 1259 | 01:47:24 --> 01:47:30 | part where you write shit down on high resistance liquidity run days, your stop |
| 1260 | 01:47:30 --> 01:47:35 | has to factor that fair value gaps range, meaning this, if you're getting |
| 1261 | 01:47:35 --> 01:47:39 | short here, because you have a tendency to see deeper retracements that you're |
| 1262 | 01:47:39 --> 01:47:46 | more comfortable being in or less convenient the range of this fair value |
| 1263 | 01:47:46 --> 01:47:50 | gap from your entry, you have to add that to what would be here. That's your |
| 1264 | 01:47:50 --> 01:47:55 | stop two times this. So that means you're probably definitely going into a |
| 1265 | 01:47:55 --> 01:47:58 | micro and some of these individuals are listening. Don't want to hear that. I |
| 1266 | 01:47:59 --> 01:48:02 | don't want to trade with a stop loss that wide, then don't trade the today at |
| 1267 | 01:48:02 --> 01:48:06 | all. But if you're going to trade, you have to afford yourself the luxury of |
| 1268 | 01:48:06 --> 01:48:13 | saying, I'm going to use a stop that is at least two times this range, or |
| 1269 | 01:48:13 --> 01:48:20 | whatever the fairbag app is. So let's do like this normally, using this area |
| 1270 | 01:48:20 --> 01:48:24 | here, you might think, Well, I'm just gonna put my stop loss just a couple |
| 1271 | 01:48:24 --> 01:48:31 | ticks above the gap. Not, no, no, no, you want to do this. That's your entry. |
| 1272 | 01:48:33 --> 01:48:41 | That's your fair value gap, width or height of it, your stop loss has got to |
| 1273 | 01:48:41 --> 01:48:41 | be up here. |
| 1274 | 01:48:44 --> 01:48:49 | Because it can retrace and wick through and then still go back down. So you have |
| 1275 | 01:48:49 --> 01:48:53 | to refer to that frame of reference, that measurement of time, I'm sorry, of |
| 1276 | 01:48:53 --> 01:48:58 | price. So if, if the price comes back up at a later time, it's you're affording |
| 1277 | 01:48:58 --> 01:49:03 | yourself, not just static price action. It's going to take a real move to get up |
| 1278 | 01:49:03 --> 01:49:07 | there to take you stopped out. And that way, it gives you the the ability to |
| 1279 | 01:49:07 --> 01:49:11 | stay with the trade longer, and you won't feel so scared about being stopped |
| 1280 | 01:49:11 --> 01:49:15 | out, versus if you just go in here and it starts to break away using a stop |
| 1281 | 01:49:15 --> 01:49:19 | offset consequence. I want to lower this in the pudding run day. That's what I |
| 1282 | 01:49:19 --> 01:49:21 | was using. I'd go one tick above that, but we're not in that. And as I |
| 1283 | 01:49:21 --> 01:49:24 | mentioned in the beginning, this beginning of the session, it's a it's a |
| 1284 | 01:49:24 --> 01:49:28 | lackluster morning session. It's coming. Doesn't mean we can't trade it. It just |
| 1285 | 01:49:28 --> 01:49:31 | means that it's going to be more difficult. It's going to require you a |
| 1286 | 01:49:31 --> 01:49:34 | whole lot more experience. So your short would be entered here, your stop losses |
| 1287 | 01:49:34 --> 01:49:39 | be where it was just mentioned ago, and then it trades down through the 15 |
| 1288 | 01:49:39 --> 01:49:45 | second gap. But what is it doing in here? Is it showing a willingness to |
| 1289 | 01:49:45 --> 01:49:51 | want to run away? It's spending too much time in there. So it's going to be a lot |
| 1290 | 01:49:51 --> 01:49:55 | of this. It'll finally move in your favor. Come right back up into |
| 1291 | 01:49:55 --> 01:50:00 | consequent approachment of that 15 second gap. Break lower you. Not take |
| 1292 | 01:50:00 --> 01:50:06 | out the low yet, come back up in here, drive below this low on a low resistance |
| 1293 | 01:50:06 --> 01:50:11 | liquidity run day. I teach to take partials every single time, because |
| 1294 | 01:50:11 --> 01:50:15 | they're not going to have the skill set to recognize the difference between high |
| 1295 | 01:50:15 --> 01:50:19 | resistance liquidity run days and low resistance liquidity run days. For |
| 1296 | 01:50:19 --> 01:50:25 | clarity, you want to be pushing your edge. You want to be using your maximum |
| 1297 | 01:50:25 --> 01:50:29 | leverage, but not over leverage on low resistance liquidity run dates. You do |
| 1298 | 01:50:29 --> 01:50:34 | not want to be doing lots of trades high leverage in high resistance liquidity |
| 1299 | 01:50:34 --> 01:50:38 | run days, because it's going to be like trying to run in quicksand. You're going |
| 1300 | 01:50:38 --> 01:50:43 | to tire yourself out, and you're probably going to lose. But because I |
| 1301 | 01:50:43 --> 01:50:48 | teach tend to take partials all the time. Over time, what will happen is |
| 1302 | 01:50:48 --> 01:50:53 | they will train themselves at if we're bearish, every time it takes out a low, |
| 1303 | 01:50:53 --> 01:50:58 | once it trades down below that low, that's where a partial be taken. What |
| 1304 | 01:50:58 --> 01:51:04 | type of percentage of your position? Would you think is appropriate on a day |
| 1305 | 01:51:04 --> 01:51:07 | that you already know that you're likely to be met with high resistance if you |
| 1306 | 01:51:07 --> 01:51:12 | have, say, 10 contracts on, which is my standard position size, if I have 10 |
| 1307 | 01:51:12 --> 01:51:17 | contracts on on NASDAQ, and I know I'm in a high resistance liquidity run day, |
| 1308 | 01:51:17 --> 01:51:22 | how many contracts would you suppose is a realistic amount to take off when it |
| 1309 | 01:51:22 --> 01:51:26 | goes into profit. Remember your entries here, and once it goes below this low, |
| 1310 | 01:51:27 --> 01:51:31 | how many contracts of those 10 contracts would you think Dad would want to take |
| 1311 | 01:51:31 --> 01:51:34 | off? And there's no right or wrong answer, I'm just saying, Well, how many |
| 1312 | 01:51:34 --> 01:51:38 | would you think? Probably between 16. That's actually a good answer. I'm |
| 1313 | 01:51:39 --> 01:51:43 | actually surprised. I'm surprised I if this is not scripted, I was expecting |
| 1314 | 01:51:43 --> 01:51:47 | pricing like two and I'd be like, No, I'd want to take more. No, uh, eight |
| 1315 | 01:51:47 --> 01:51:53 | would be kind of high. But six to seven, yeah, six is a good one, okay. But then |
| 1316 | 01:51:53 --> 01:51:59 | as remaining four contracts, I'd have to sit through all of this drawdown, just |
| 1317 | 01:51:59 --> 01:52:04 | all the way back to almost to where I entered, and then once it breaks again, |
| 1318 | 01:52:04 --> 01:52:09 | go back to the same motion of, Okay, now we're we're aiming right below this low, |
| 1319 | 01:52:09 --> 01:52:14 | but we're in close proximity to what the original relatively below that. We can't |
| 1320 | 01:52:14 --> 01:52:18 | see here because we're or Sean river trading on us. I mean, let me go into |
| 1321 | 01:52:18 --> 01:52:28 | electronic uh, it's these, uh, relative people lows that we framed the morning |
| 1322 | 01:52:29 --> 01:52:32 | on. I already know there's been people that probably are signed off. They're |
| 1323 | 01:52:32 --> 01:52:37 | like, this guy, okay, but seriously, like those same people, they're going to |
| 1324 | 01:52:37 --> 01:52:39 | lose their ass. They're never going to make any money, and they're going to get |
| 1325 | 01:52:39 --> 01:52:42 | chopped up in days like this, and they're going to say, Oh, the market was |
| 1326 | 01:52:42 --> 01:52:47 | just choppy. Just choppy. The market's doing what it's it's intended to do, and |
| 1327 | 01:52:48 --> 01:52:53 | when it's not being ran by an algorithm, and there's manual intervention, you're |
| 1328 | 01:52:53 --> 01:52:58 | going to see them deliver in a way that isn't perfect, like the algorithm. The |
| 1329 | 01:52:58 --> 01:53:03 | difference is this, on low resistance liquidity run days you're going to see |
| 1330 | 01:53:03 --> 01:53:07 | the market delivers to the tick. How do you know there's manual intervention? |
| 1331 | 01:53:08 --> 01:53:13 | Because that precision is not there. That means somebody's in there with a |
| 1332 | 01:53:13 --> 01:53:18 | spoon and stern the shit up. That's why you're getting these wild little runs |
| 1333 | 01:53:18 --> 01:53:25 | outside of the inefficiencies here, all these little spiky moves. Okay, that's |
| 1334 | 01:53:25 --> 01:53:29 | not just chop and the imbalance of buying and selling, of buying and |
| 1335 | 01:53:29 --> 01:53:35 | selling pressure. That's someone saying, I want these stops. I want to I'm taking |
| 1336 | 01:53:35 --> 01:53:40 | it all the way back up here to unseat those individuals that are already short |
| 1337 | 01:53:40 --> 01:53:46 | that trailed their stop losses here, because there, there may be, there may |
| 1338 | 01:53:46 --> 01:53:52 | be an entity that wants to be short and they don't have the size on they have |
| 1339 | 01:53:52 --> 01:53:59 | intended to have on yet, sounds like conspiracy. I know there's people that's |
| 1340 | 01:53:59 --> 01:54:02 | listening to Scott. I love that. I absolutely love it, because they're |
| 1341 | 01:54:02 --> 01:54:08 | never understanding what's going on. But I'm out here doing it, so they're seeing |
| 1342 | 01:54:08 --> 01:54:13 | these stops taken here. Those stops are absolutely being onboarded right there. |
| 1343 | 01:54:13 --> 01:54:18 | How do you know that? Because look how much time it sat there. It didn't go one |
| 1344 | 01:54:18 --> 01:54:25 | spike, wicked and run away. It sat there and afforded the open interest to enter |
| 1345 | 01:54:25 --> 01:54:30 | the market and that pairing of orders. Look at your time and sales. For those |
| 1346 | 01:54:30 --> 01:54:33 | that have had that have that information right there. Look at this area right in |
| 1347 | 01:54:33 --> 01:54:37 | here, from the high of that inefficiency always to the high here. Look how many |
| 1348 | 01:54:37 --> 01:54:41 | contracts were traded there, and you're going to see how smart money slip right |
| 1349 | 01:54:41 --> 01:54:47 | on in there, and then it does this quickly shoots lower. Anyone that's |
| 1350 | 01:54:47 --> 01:54:54 | short here, here or here, they're going to take and start off loading their |
| 1351 | 01:54:54 --> 01:54:58 | short positions by buying that at a load price. What's convenient is that low has |
| 1352 | 01:54:58 --> 01:55:02 | triggers that went long. And how they protect their position, they have a cell |
| 1353 | 01:55:02 --> 01:55:07 | stop below that low. So how much below this market can it drop below that low? |
| 1354 | 01:55:07 --> 01:55:10 | Go back to our first frame of reference, which is those relative equal lows, |
| 1355 | 01:55:10 --> 01:55:17 | where the sell side liquidity is over here. So if it's going to go below this |
| 1356 | 01:55:17 --> 01:55:21 | low, it's reasonable to expect it to do what wick and run through those relative |
| 1357 | 01:55:21 --> 01:55:27 | equal hooks, and it does that here. So even if you didn't understand how to |
| 1358 | 01:55:27 --> 01:55:30 | find the right liquidity pools, this is why I teach partials. Every time it |
| 1359 | 01:55:30 --> 01:55:35 | takes out a low you take a partial offer if you're short and over time, because |
| 1360 | 01:55:35 --> 01:55:39 | you're you're supposed to be journaling that way, you'll see, oh, wow, I didn't |
| 1361 | 01:55:39 --> 01:55:42 | notice that at the time, because they're going to be trading when I'm not doing |
| 1362 | 01:55:42 --> 01:55:47 | live streams eventually here, right? So they have to have their own skill set. |
| 1363 | 01:55:47 --> 01:55:50 | They have their own rules or processes and protocols, and because if they're |
| 1364 | 01:55:50 --> 01:55:56 | taking shorts and covering partials below a new low that's being formed once |
| 1365 | 01:55:56 --> 01:56:01 | that happens, you gotta train yourself, son, to take something off, even if, |
| 1366 | 01:56:01 --> 01:56:07 | even if it's one contract, because number one, it rewards your patience, it |
| 1367 | 01:56:07 --> 01:56:14 | rewards your ability to find the setup, but it also reduces your risk. And over |
| 1368 | 01:56:14 --> 01:56:19 | time, all these things blend together, and you get a really rich tapestry and |
| 1369 | 01:56:19 --> 01:56:23 | perspective of what it is that you're trying to engage in, in price and |
| 1370 | 01:56:23 --> 01:56:26 | everything that looks like, it's a choppy mess when you're just simply |
| 1371 | 01:56:26 --> 01:56:30 | looking at like, like, like this. Like, look at it here, like that, versus this. |
| 1372 | 01:56:31 --> 01:56:34 | That looks like, what the hell is that? It's a seismic graph. Okay? It looks |
| 1373 | 01:56:34 --> 01:56:37 | like an earthquake, right? Like, how are, How is anybody supposed to know |
| 1374 | 01:56:37 --> 01:56:42 | anything about the future direction of these individual candlesticks based on |
| 1375 | 01:56:42 --> 01:56:45 | anything that's being shown here. But then when you contrast that with now you |
| 1376 | 01:56:45 --> 01:56:49 | have a context added to it. You have your first fair value gap. You have the |
| 1377 | 01:56:49 --> 01:56:54 | upper quadrant of the opening range gap. The bias is bearish, aiming down here. |
| 1378 | 01:56:54 --> 01:56:59 | So that means every single time it runs stops, what kind of stops buy stops? |
| 1379 | 01:56:59 --> 01:57:06 | That means it's got to run equal highs or a singular high. And if it does that, |
| 1380 | 01:57:06 --> 01:57:12 | does the market go lower? If it's doing that, then you are in high resistance |
| 1381 | 01:57:12 --> 01:57:16 | liquidity run conditions, and they're only manipulating price higher just to |
| 1382 | 01:57:16 --> 01:57:22 | take the shorts out, and they're taking those positions over by selling short to |
| 1383 | 01:57:22 --> 01:57:28 | those buy stocks. Perfect example is here, that right there, and the market |
| 1384 | 01:57:28 --> 01:57:32 | drops down, then we have the market right here. Does what creates a short |
| 1385 | 01:57:32 --> 01:57:39 | term high leaves it comes one more time. Touches now we're back into algorithmic |
| 1386 | 01:57:39 --> 01:57:44 | delivery, because the manipulation is done. The manipulation is done. So |
| 1387 | 01:57:44 --> 01:57:47 | there's two times that they came in today and they stirred the pot. That |
| 1388 | 01:57:47 --> 01:57:54 | means someone caused artificially. It wasn't completely AI driven, like it |
| 1389 | 01:57:54 --> 01:57:59 | normally is low resistant liquidity run markets are AI driven. That's why |
| 1390 | 01:57:59 --> 01:58:03 | they're real loot. They're real fluid. And just liquidity is easy to see. It |
| 1391 | 01:58:03 --> 01:58:07 | runs right to it, and it's everything to the tick, and your precision is going to |
| 1392 | 01:58:07 --> 01:58:13 | be bang on, but you will lose that precision in high resistance liquidity |
| 1393 | 01:58:13 --> 01:58:18 | days or sessions because you're competing with the person that is in |
| 1394 | 01:58:18 --> 01:58:19 | control. |
| 1395 | 01:58:20 --> 01:58:24 | So is it not advantageous to recognize this in an early setting, while you're |
| 1396 | 01:58:24 --> 01:58:29 | developing as a student, to recognize when you are at class, when you have an |
| 1397 | 01:58:29 --> 01:58:35 | actual predator in there that you don't know what they're going to do, you don't |
| 1398 | 01:58:35 --> 01:58:39 | know that. I don't know that. So it's going to be harder for you to navigate |
| 1399 | 01:58:39 --> 01:58:44 | in there. So I That's why I trade with less risk, or I simply don't trade |
| 1400 | 01:58:44 --> 01:58:50 | because I don't want to be arm wrestling with someone that I know is outsized me |
| 1401 | 01:58:50 --> 01:58:54 | has has control over something that I don't have control over, and they can |
| 1402 | 01:58:54 --> 01:59:00 | manipulate it where I don't have any advantage, and my edge is removed. So |
| 1403 | 01:59:02 --> 01:59:07 | when I taught product mentorship, I started teaching this way, and I wanted |
| 1404 | 01:59:07 --> 01:59:10 | the students to sit in there, and it's very dry, it's very boring, and if |
| 1405 | 01:59:10 --> 01:59:13 | anybody's still here, I applaud you, because you're doing the very most |
| 1406 | 01:59:16 --> 01:59:19 | positive thing that you can do for your understanding and your learning. Because |
| 1407 | 01:59:19 --> 01:59:22 | these are things you're not finding in books and no other educators going to |
| 1408 | 01:59:22 --> 01:59:26 | touch on these topics. They're not going to touch on it because it's completely |
| 1409 | 01:59:26 --> 01:59:29 | alien to them, because 99% everybody else that's educator, unless they've |
| 1410 | 01:59:29 --> 01:59:32 | been trained by me, or they found my content leaked, or they learned it from |
| 1411 | 01:59:32 --> 01:59:37 | somebody else that's trying to teach it, but don't know shit about it. They don't |
| 1412 | 01:59:37 --> 01:59:40 | believe in an AI or an algorithm controlling price, so they think it's |
| 1413 | 01:59:40 --> 01:59:43 | buying selling pressure. So they're never going to think of this. They're |
| 1414 | 01:59:43 --> 01:59:48 | never going to look at it that way. But that's why I ask you all to suspend your |
| 1415 | 01:59:48 --> 01:59:51 | disbelief. If you don't think there's an algorithm, just for the sake of our |
| 1416 | 01:59:51 --> 01:59:56 | conversations, hold hold that idea for pulling the bargain. If there is an |
| 1417 | 01:59:56 --> 02:00:02 | algorithm, there are going to be times where, if. There is a instance where the |
| 1418 | 02:00:02 --> 02:00:09 | AI is over ridden. Okay? It's not allowed to do what it's supposed to do. |
| 1419 | 02:00:09 --> 02:00:14 | It's there's some kind of intervention that's taking place when you see price |
| 1420 | 02:00:14 --> 02:00:18 | losing its precision and delivering right to the tip on that. On my PD |
| 1421 | 02:00:18 --> 02:00:24 | arrays, when I see that I'm not looking at they're changing the algorithm. I'm |
| 1422 | 02:00:24 --> 02:00:29 | not looking at my stuff doesn't work. Like an asshole a troll, they'll say |
| 1423 | 02:00:29 --> 02:00:32 | this stuff doesn't work. Look what it did here. Look what they completely they |
| 1424 | 02:00:32 --> 02:00:37 | completely missed the idea because I never sat down talk until today. When |
| 1425 | 02:00:37 --> 02:00:41 | you lose the precision elements of my PD arrays, you're seeing the truest |
| 1426 | 02:00:41 --> 02:00:45 | indication that there's manual intervention underway. That means |
| 1427 | 02:00:45 --> 02:00:51 | something is afoot. That means they're fucking around with the price. So |
| 1428 | 02:00:52 --> 02:00:55 | because you don't know what they're trying to do, chances are you probably |
| 1429 | 02:00:55 --> 02:00:59 | don't, and I don't know what they're going to be doing, does it make sense |
| 1430 | 02:00:59 --> 02:01:02 | for me to go in here and try to trade with large leverage on those days when I |
| 1431 | 02:01:02 --> 02:01:07 | know they're in there conducting business, hell no. Ain't no way. Ain't |
| 1432 | 02:01:07 --> 02:01:12 | no way. I'm going in there trying to do that, because I already have lost every |
| 1433 | 02:01:12 --> 02:01:18 | advantage I normally have. But you can still study. You can tape read, or you |
| 1434 | 02:01:18 --> 02:01:25 | wait for the obvious disruptions. You wait for the disruptions. It spent time |
| 1435 | 02:01:25 --> 02:01:30 | in this inefficiency over here. We've already did the damage up here. This was |
| 1436 | 02:01:30 --> 02:01:33 | your Judas swing of the day, even though it doesn't make a higher high than the |
| 1437 | 02:01:33 --> 02:01:37 | opening price. This was the Judas. This is the thing that led everybody astray, |
| 1438 | 02:01:37 --> 02:01:41 | if they want to be bullish, and it also neutralized anyone that was short miss |
| 1439 | 02:01:41 --> 02:01:46 | the stops here, here, and even on this little high here, it's completely gone. |
| 1440 | 02:01:46 --> 02:01:49 | They've they've turned all those buy stops that would protect the short |
| 1441 | 02:01:49 --> 02:01:53 | position. They turned them into buy market orders buying at the market. And |
| 1442 | 02:01:53 --> 02:01:56 | anyone that would have used a breakout above this high here they are tripped |
| 1443 | 02:01:56 --> 02:02:00 | long. It doesn't matter what the ratio is to how many people bought long as a |
| 1444 | 02:02:00 --> 02:02:04 | new long position above this high or how many were using this area here to |
| 1445 | 02:02:04 --> 02:02:07 | protect their short position? It doesn't matter to me. I don't need a book map to |
| 1446 | 02:02:07 --> 02:02:11 | tell me how many contracts. Supposedly, I don't need that shit. You don't need |
| 1447 | 02:02:11 --> 02:02:15 | that shit. And I know if they know anything about me, they don't like me. I |
| 1448 | 02:02:15 --> 02:02:19 | say that stuff. It's bad for sales, or it's by it's bad publicity. But I'm |
| 1449 | 02:02:19 --> 02:02:25 | teaching you to do this independent of me and of everything else. But if this |
| 1450 | 02:02:26 --> 02:02:31 | been ran up here, this was all done by design with a hand that was not |
| 1451 | 02:02:31 --> 02:02:36 | artificially driven. This was not algorithmic. This is 100% manipulation. |
| 1452 | 02:02:36 --> 02:02:39 | And then it went back down in and look how muddy it is inside the inefficiency |
| 1453 | 02:02:39 --> 02:02:44 | again, inside that pink box, and then we see it drop down. This is where the |
| 1454 | 02:02:44 --> 02:02:48 | algorithms firing on what it would normally do. Then it drops down, and |
| 1455 | 02:02:48 --> 02:02:54 | then right in here. This is where manual innovation came in. Everybody wants to |
| 1456 | 02:02:54 --> 02:02:59 | get out here. So anyone that's short Now, where's their stop loss? What is |
| 1457 | 02:02:59 --> 02:03:04 | this smooth highs. Let me roll it up with it. You can see it. See this set |
| 1458 | 02:03:04 --> 02:03:08 | right there, lower high than that one. So that means it's valid. What relative |
| 1459 | 02:03:08 --> 02:03:14 | equal high. So they intervene here. They pump it all the way up, they consolidate |
| 1460 | 02:03:14 --> 02:03:17 | it in here, and then jam it right up above this inefficiency, clear the |
| 1461 | 02:03:17 --> 02:03:21 | stops. And then that's why you see it repel aggressively. Then takes out that |
| 1462 | 02:03:21 --> 02:03:24 | low and then it goes to top. Goes to target. But anyone that went short in |
| 1463 | 02:03:24 --> 02:03:28 | here or Trailer Stop Loss, they don't get to have that ticket rod down here. |
| 1464 | 02:03:29 --> 02:03:34 | Their ticket gets punched here, and they don't get the prize they get. If they're |
| 1465 | 02:03:34 --> 02:03:39 | lucky, maybe their commission cost covered or small loss, but they don't |
| 1466 | 02:03:39 --> 02:03:42 | make money, but they're frustrated because it goes down here where they |
| 1467 | 02:03:42 --> 02:03:46 | thought I was going to go, and then after this, market retraces back up into |
| 1468 | 02:03:46 --> 02:03:51 | the inefficiency trace at the top of the inefficiency here breaks lower, and |
| 1469 | 02:03:51 --> 02:03:55 | everything returns back to what algorithmic delivery. Everything goes |
| 1470 | 02:03:55 --> 02:04:01 | back to precision, price point delivery, but manipulation, manipulation, and I'm |
| 1471 | 02:04:01 --> 02:04:06 | sorry Wyckoff doesn't fucking teach you that. Okay, it doesn't happen in Elliott |
| 1472 | 02:04:06 --> 02:04:10 | Wave and pitchfork bullshit from Andrews doesn't have it either. Stop trying to |
| 1473 | 02:04:10 --> 02:04:16 | talk nonsense, recognizing characteristics where the price is |
| 1474 | 02:04:16 --> 02:04:26 | delivered artificially by AI algorithmic versus when someone's in there stirring |
| 1475 | 02:04:26 --> 02:04:32 | the pot up, if you can't recognize that. And this is not an easy lesson, I'm |
| 1476 | 02:04:32 --> 02:04:35 | honest with you, it's not an easy lesson, and it's something that I can't |
| 1477 | 02:04:35 --> 02:04:39 | teach in a book. So when you when you hear about the books and you're excited |
| 1478 | 02:04:39 --> 02:04:44 | about the books and whatnot, just understand that they're limited in their |
| 1479 | 02:04:44 --> 02:04:49 | capacity to try to instruct. That's why books aren't really good for teaching |
| 1480 | 02:04:49 --> 02:04:54 | trading. They're not they're absolutely not things from other traders, |
| 1481 | 02:04:54 --> 02:04:59 | experiences and how they wrestle through them. They are good for books. |
| 1482 | 02:05:00 --> 02:05:05 | Technically, how to trade a market. Could you know, could I have taught the |
| 1483 | 02:05:05 --> 02:05:10 | optimal trade entry and silver bullet? Oh, yeah, sure, there's this real |
| 1484 | 02:05:10 --> 02:05:15 | straightforward, simple models, but being able to read price action, |
| 1485 | 02:05:15 --> 02:05:21 | understanding the difficulties of having a high resistance liquidity run versus a |
| 1486 | 02:05:21 --> 02:05:26 | low resistance liquidity, right? It's not something that can be easily |
| 1487 | 02:05:26 --> 02:05:31 | described like, I can show you a static chart, okay? I can show you a static |
| 1488 | 02:05:31 --> 02:05:36 | chart in book chapters and everything else, and show you before and after and |
| 1489 | 02:05:36 --> 02:05:40 | what was commonly going to be referred to as well. This is obviously hindsight. |
| 1490 | 02:05:41 --> 02:05:45 | So this person has the benefit of hindsight. Now, contrast that with where |
| 1491 | 02:05:45 --> 02:05:48 | I'm sitting with you live, telling you in advance that this is going to be a |
| 1492 | 02:05:48 --> 02:05:53 | problematic, lackluster session, but I told you where I want to see price go. |
| 1493 | 02:05:54 --> 02:05:59 | You have no excuse to see that what I was explaining and the difficulty in how |
| 1494 | 02:05:59 --> 02:06:03 | price was delivering today. It was already pre predetermined. I knew it was |
| 1495 | 02:06:03 --> 02:06:08 | going to deliver like this. I knew it. And you hear people say, when you when |
| 1496 | 02:06:08 --> 02:06:11 | you hear people say they they're trying to predict price. We're not trying to |
| 1497 | 02:06:11 --> 02:06:16 | predict price. We're trying to react the price. That's why you're fucking losing |
| 1498 | 02:06:16 --> 02:06:21 | you're trying to react to something that you didn't foresee happening, like if |
| 1499 | 02:06:21 --> 02:06:24 | you don't know that there's a pothole down that road that you drive down every |
| 1500 | 02:06:24 --> 02:06:27 | single day, but you go to work, what are you going to do? You're going to hit it |
| 1501 | 02:06:27 --> 02:06:31 | every single time. You need to replace your tire and your tie rod and your axle |
| 1502 | 02:06:31 --> 02:06:36 | and your struts, six seven times in a row before you realize you know what, I |
| 1503 | 02:06:36 --> 02:06:41 | probably should go a different way, or be prepared to go in the other lane, |
| 1504 | 02:06:41 --> 02:06:44 | even if it is illegal, for a moment when it's safe to do so to go around that |
| 1505 | 02:06:44 --> 02:06:51 | pothole, they're going to say that you have to react to running over that |
| 1506 | 02:06:51 --> 02:06:55 | fucking pothole and blowing out your front end alignment. We're not trying to |
| 1507 | 02:06:55 --> 02:07:01 | predict the hazard of that pothole. Now, contrast that with how I teach there are |
| 1508 | 02:07:01 --> 02:07:05 | times when you're going to be cannibalized by people that are smarter |
| 1509 | 02:07:05 --> 02:07:09 | than you. They're in control of Christ, and you can argue about all you want, |
| 1510 | 02:07:09 --> 02:07:14 | but that's the underlying truth of the matter, and the sooner you align |
| 1511 | 02:07:14 --> 02:07:18 | yourself with the thinking like that, it doesn't mean you're a cultist, with me. |
| 1512 | 02:07:18 --> 02:07:21 | Doesn't mean that you're one of these conspiracy theorists. It means that |
| 1513 | 02:07:21 --> 02:07:23 | you're a realist, because you can clearly see clearly see it's what's |
| 1514 | 02:07:23 --> 02:07:29 | going on, and it gives you the narrative of why price is doing what it does and |
| 1515 | 02:07:29 --> 02:07:34 | when it's not doing it. Algorithmically, you can recognize it. You can see it, |
| 1516 | 02:07:34 --> 02:07:40 | because the clue is it's losing its precision. Elements around my PV arrays. |
| 1517 | 02:07:41 --> 02:07:45 | That's the benefit. If you start seeing every inefficiency, spending a whole lot |
| 1518 | 02:07:45 --> 02:07:49 | of time, price being inside them, you already know what you're inside of now. |
| 1519 | 02:07:50 --> 02:07:55 | You're already you already know that lesson now. But how can I teach that to |
| 1520 | 02:07:55 --> 02:07:58 | you? Just in a couple set of pictures in a book and feel like I've done a good |
| 1521 | 02:07:58 --> 02:08:01 | job at I couldn't feel I couldn't sleep at night, saying that I wrote a chapter |
| 1522 | 02:08:01 --> 02:08:07 | or two, teaching this and feeling like I've done my due diligence and you |
| 1523 | 02:08:07 --> 02:08:11 | should have picked up on everything and subtle nuance, it's impossible. You have |
| 1524 | 02:08:11 --> 02:08:15 | to see me first tell you what it's going to do and how it's going to deliver, and |
| 1525 | 02:08:15 --> 02:08:18 | the difficulty it's going to deliver. And then we've all watched it today. |
| 1526 | 02:08:19 --> 02:08:23 | That's somebody that knows what the fuck is going on. That's somebody that knows |
| 1527 | 02:08:23 --> 02:08:26 | what is going on behind the scenes. That's somebody that you can trust as a |
| 1528 | 02:08:26 --> 02:08:29 | mentor. Because I'm not telling you to send me any money, and I'm doing it for |
| 1529 | 02:08:29 --> 02:08:37 | free, and you're watching it work every damn day. So my question to you is, can |
| 1530 | 02:08:37 --> 02:08:40 | you recognize that here in this example, I'm not saying you're going to know it |
| 1531 | 02:08:40 --> 02:08:46 | in the future, but can you now know when you go through your charts, when you |
| 1532 | 02:08:46 --> 02:08:50 | have your first presented fair value gap or any inefficiency after that one |
| 1533 | 02:08:50 --> 02:08:55 | forms, how does price behave at them or while they're in them? Because if you |
| 1534 | 02:08:55 --> 02:09:01 | start seeing gaps, the buy side imbalance, sell side efficiency, or |
| 1535 | 02:09:01 --> 02:09:05 | Sibi, vice versa, up close, fairbag app or down close, Fairbanks all it is |
| 1536 | 02:09:05 --> 02:09:11 | basically, if price is spending a lot of time or revisiting it multiple times |
| 1537 | 02:09:11 --> 02:09:16 | before moving in your favor, you already know now what you're in. So what would |
| 1538 | 02:09:16 --> 02:09:21 | you do in that instance? In my opinion, you should immediately drop down to the |
| 1539 | 02:09:21 --> 02:09:25 | lowest leverage if you're going to if you're going to keep the trade on, go |
| 1540 | 02:09:25 --> 02:09:30 | down to the well, if you're trading the Mini, if you have like, several |
| 1541 | 02:09:30 --> 02:09:35 | contracts on, as soon as you recognize it that that's what's going on, slice it |
| 1542 | 02:09:35 --> 02:09:39 | down to just one contract, because number one, you probably would be |
| 1543 | 02:09:39 --> 02:09:43 | booking some kind of profit. By doing that, you're reducing risk aggressively, |
| 1544 | 02:09:43 --> 02:09:47 | which is absolutely good. That's a good thing. That is not you being scared or a |
| 1545 | 02:09:47 --> 02:09:53 | pussy young men, that's you being a risk manager. That's you being aggressive |
| 1546 | 02:09:53 --> 02:09:58 | about protecting what's yours. The ladies are going to have no problem |
| 1547 | 02:09:58 --> 02:10:01 | taking that exercise on. They go ahead. Up. Oh yeah, it's a problem. Let me, let |
| 1548 | 02:10:01 --> 02:10:05 | me remove the risk. Or they may say, You know what? To hell with this. I'm going |
| 1549 | 02:10:05 --> 02:10:09 | to trade on another setup, another day, and I'll just take reader paper, trade |
| 1550 | 02:10:09 --> 02:10:14 | it, because they're going to be more risk adverse than you are young men. But |
| 1551 | 02:10:14 --> 02:10:18 | the young men that simply just want to be a warrior, what do they do? Well, my |
| 1552 | 02:10:18 --> 02:10:22 | advice, they would drop it down to the lowest leverage it can have. If you're |
| 1553 | 02:10:22 --> 02:10:26 | trading with micros and you have multiple micros on, go down to just one. |
| 1554 | 02:10:27 --> 02:10:32 | That way you have zero reason to be panicked, even if it comes back and |
| 1555 | 02:10:32 --> 02:10:36 | stops you up. Who cares? It took the least from you. If you're going to have |
| 1556 | 02:10:36 --> 02:10:40 | something taken from you, wouldn't you like to have a dummy wallet in today's |
| 1557 | 02:10:40 --> 02:10:46 | age, that's what I would have keep a wallet in, in your front pocket. That's |
| 1558 | 02:10:46 --> 02:10:49 | a slim wallet. That's where you keep your stuff. But if you get held up, you |
| 1559 | 02:10:49 --> 02:10:54 | should have a back pocket wallet that's just a dummy. One never thought about |
| 1560 | 02:10:54 --> 02:10:59 | that. Did you someone hold you up here and in here? Put three, you know, three |
| 1561 | 02:10:59 --> 02:11:04 | or $4 in there. Fold it up, put a condom in, make it look like it's something |
| 1562 | 02:11:04 --> 02:11:09 | real. I know you guys don't use Commons anymore, just like that. You're taking |
| 1563 | 02:11:09 --> 02:11:14 | risks there. Same thing. You're using that same approach. Well, here you're |
| 1564 | 02:11:14 --> 02:11:17 | going to get more than an STD trading in the market like this. If you don't |
| 1565 | 02:11:17 --> 02:11:23 | recognize the risks, you can get taken out and you do it to yourself. You keep |
| 1566 | 02:11:23 --> 02:11:28 | taking those unnecessary risks, sleeping with these grenades on the weekend, |
| 1567 | 02:11:28 --> 02:11:33 | unprotected. Well, you're taking trades and expecting precision in times where |
| 1568 | 02:11:33 --> 02:11:37 | it's not likely to happen because of the parameters that were in play this |
| 1569 | 02:11:37 --> 02:11:43 | morning. So my question to you is, are you going to take the initiative to |
| 1570 | 02:11:43 --> 02:11:48 | start looking at price like this? Are you going to compare every individual |
| 1571 | 02:11:48 --> 02:11:54 | day going forward, recognize the characteristics of that day? Was it |
| 1572 | 02:11:54 --> 02:11:59 | under the delivery of high resistance? That means it's having a hard time |
| 1573 | 02:11:59 --> 02:12:03 | getting to targets a lot more deeper retracements. And the way you determine |
| 1574 | 02:12:03 --> 02:12:10 | this, it's so visually recognizable by my PD array, the inefficiencies, the |
| 1575 | 02:12:10 --> 02:12:16 | gaps, if price is spending a lot of time in them, you are absolutely in high |
| 1576 | 02:12:16 --> 02:12:22 | resistance liquidity run conditions. That is not seek and destroy. That is |
| 1577 | 02:12:22 --> 02:12:26 | not the CHOP is real. It just means that you're going to have to submit to more |
| 1578 | 02:12:26 --> 02:12:30 | time and then start looking. When you're bearish, you start looking for the |
| 1579 | 02:12:30 --> 02:12:34 | sweeps of above old highs. So these conditions create, what turtle soups. |
| 1580 | 02:12:37 --> 02:12:42 | Light bulb just went on, didn't Oh, now let's roll it back, and I'm going to |
| 1581 | 02:12:42 --> 02:12:47 | close the session, because we've been at it for a long time. Today. Here's a high |
| 1582 | 02:12:50 --> 02:12:54 | Judah swing up the upper half. Ideally we want to see this left open on a low |
| 1583 | 02:12:54 --> 02:12:58 | resistance liquidity run day. This would have never happened. It would have it |
| 1584 | 02:12:58 --> 02:13:01 | would have already done enough in here by trading here failing to go to |
| 1585 | 02:13:01 --> 02:13:05 | constant encroachment and enrolled out of it, that would have been enough. But |
| 1586 | 02:13:05 --> 02:13:09 | because it is spending too much time here, and it worked too many times, here |
| 1587 | 02:13:09 --> 02:13:13 | is already indicating that, okay, this is probably not something you've already |
| 1588 | 02:13:13 --> 02:13:16 | watched me live stream. And I was like, I'm going to take a trade. I'm going |
| 1589 | 02:13:16 --> 02:13:18 | with it. And no, I'm not doing this. And if I would have took a trade, it would |
| 1590 | 02:13:18 --> 02:13:21 | have been a losing trade. And you guys all struggle with the idea you're hiding |
| 1591 | 02:13:21 --> 02:13:25 | your losses. ICT, I know you're I know you're hiding them. You don't even know |
| 1592 | 02:13:25 --> 02:13:29 | the skill set I'm demonstrating here again. I'm proving to you how I can see |
| 1593 | 02:13:29 --> 02:13:32 | that it's not favorable. I'm not here trying to impress you with doing |
| 1594 | 02:13:32 --> 02:13:36 | executions. I'm teaching you how to keep your money so that we can stay in the |
| 1595 | 02:13:36 --> 02:13:43 | game long enough so that way my concepts will yield themselves to you. You a |
| 1596 | 02:13:43 --> 02:13:52 | turtle suit. Here's a high runs, the buy stops, drops relative equal highs, runs |
| 1597 | 02:13:52 --> 02:14:03 | the stops, sells off high runs the stops sells off. High runs the sales, runs, |
| 1598 | 02:14:03 --> 02:14:09 | the buy stops, sells off. Do you see what's happening there? That's a |
| 1599 | 02:14:09 --> 02:14:14 | characteristic of a high resistance, liquidity run market if you're bearish, |
| 1600 | 02:14:14 --> 02:14:20 | look for turtle soup sells. That means look for small, little, micro shifts in |
| 1601 | 02:14:20 --> 02:14:25 | market structure that would be viewed bullishly. But in reality, it's just |
| 1602 | 02:14:25 --> 02:14:29 | them taking the short term buy stops, and they're accumulating the positions |
| 1603 | 02:14:29 --> 02:14:35 | that those stops will afford them by being short. And then eventually you'll |
| 1604 | 02:14:35 --> 02:14:38 | get to these targets here, and eventually it went even lower there, and |
| 1605 | 02:14:38 --> 02:14:47 | this is where we're at now. Is this an easy day, not for a new trader. It's |
| 1606 | 02:14:47 --> 02:14:53 | not, not for not for someone that's destroying it's not, but I'm teaching |
| 1607 | 02:14:53 --> 02:14:56 | you how, because this is going to happen to you. You're going to be met with |
| 1608 | 02:14:56 --> 02:15:00 | this. Caleb's going to see this. You're going to you're going to. Encounter |
| 1609 | 02:15:00 --> 02:15:04 | eventually, and if you don't take this information I've shared today and the |
| 1610 | 02:15:04 --> 02:15:08 | recognition of how to determine a high risk, this is it's also a lesson for |
| 1611 | 02:15:08 --> 02:15:14 | you, Tanya, because sometimes, as proud as I am and as good as you are, |
| 1612 | 02:15:14 --> 02:15:20 | sometimes you mislabel days, and I hope you can appreciate this and not be upset |
| 1613 | 02:15:20 --> 02:15:24 | by it. But sometimes you misclassify days with seek and destroy, and it's |
| 1614 | 02:15:24 --> 02:15:30 | not, it's just simply high resistance. So you're not going to see two days of |
| 1615 | 02:15:30 --> 02:15:33 | seek and destroying the same week. That never will happen. It will never, ever |
| 1616 | 02:15:33 --> 02:15:38 | happen. But you will have a potential seek and destroy day, and then you'll |
| 1617 | 02:15:38 --> 02:15:42 | have a day that's high resistance, liquidity, and you'll have it like this, |
| 1618 | 02:15:42 --> 02:15:46 | where it's a lot of give and take back and forth. So just be careful with the |
| 1619 | 02:15:46 --> 02:15:51 | with how you're classifying, because when, when you're saying and maybe you |
| 1620 | 02:15:51 --> 02:15:53 | you've done it yourself. I'm just pointing out something with another |
| 1621 | 02:15:53 --> 02:15:56 | student, and maybe I should have done in an email. Maybe I should have done it |
| 1622 | 02:15:56 --> 02:16:02 | private. But I want you to know that this is something that is a stark |
| 1623 | 02:16:02 --> 02:16:07 | contrast to seek and destroy, and if you just mislabel it as seek, and shortly, |
| 1624 | 02:16:07 --> 02:16:10 | what you're trying to do is file it away as well. It's hard, and I'll just, I'll |
| 1625 | 02:16:10 --> 02:16:14 | just justify by saying it's seek and destroy when it's technically not. And |
| 1626 | 02:16:14 --> 02:16:19 | if I sat back and just let you say it's what it was or wasn't, rather, I'm |
| 1627 | 02:16:20 --> 02:16:23 | leaving you in ignorance, and I'm not trying to leave you in ignorance, and I |
| 1628 | 02:16:23 --> 02:16:26 | don't want anybody that's listening to you to think that it's steep and destroy |
| 1629 | 02:16:26 --> 02:16:31 | either. So what you're many times describing is high resistance liquidity |
| 1630 | 02:16:31 --> 02:16:36 | conditions. And the easiest way that you and anyone else that's wanting to learn |
| 1631 | 02:16:36 --> 02:16:42 | how to do this can recognize it is when you see your value gaps form? Are we |
| 1632 | 02:16:42 --> 02:16:46 | spending a lot of time marking price in them? Because that's the clearest |
| 1633 | 02:16:46 --> 02:16:51 | indication. That's all I need, and it's all I ever use to determine it. So it's |
| 1634 | 02:16:51 --> 02:16:54 | not like I'm hiding anything from you. There's no X extra stuff behind the |
| 1635 | 02:16:54 --> 02:16:59 | scenes. There's no special PD array or protocol. It's just simply |
| 1636 | 02:16:59 --> 02:17:04 | inefficiencies should not be seen with multiple candles laying inside of them |
| 1637 | 02:17:04 --> 02:17:08 | over and over and over again, or revisiting them multiple times. That |
| 1638 | 02:17:08 --> 02:17:11 | tells you that you're in high resistance liquidity conditions. That means it's |
| 1639 | 02:17:11 --> 02:17:16 | going to be a lot more range bound. And then when it explores new lows, it'll |
| 1640 | 02:17:16 --> 02:17:21 | retrace back into the range. When it creates the new low here. It gets to our |
| 1641 | 02:17:21 --> 02:17:25 | target. It retraces back into the range. And what is it doing? It's setting up |
| 1642 | 02:17:25 --> 02:17:30 | highs to run them create turtle suit, drops a little bit, takes out the lows, |
| 1643 | 02:17:31 --> 02:17:35 | retraces, takes out the low retraces one more time. Turtle suit, then the real |
| 1644 | 02:17:35 --> 02:17:36 | move, |
| 1645 | 02:17:37 --> 02:17:41 | smaller, little turtle suits in here, like that one there. Study it this high |
| 1646 | 02:17:41 --> 02:17:45 | to that high, it's all it's doing. It's coming back to get any trail stop |
| 1647 | 02:17:45 --> 02:17:49 | losses. That's the nature and what's going on behind the scenes, in high |
| 1648 | 02:17:49 --> 02:17:54 | resistance liquidity conditions, they're running the stops. That means they're |
| 1649 | 02:17:54 --> 02:17:58 | accumulating and building positions because there was not enough orders for |
| 1650 | 02:17:58 --> 02:18:04 | them to book with their greed, that's what's going on. So they're not allowing |
| 1651 | 02:18:04 --> 02:18:07 | the algorithm to deliver it, because the algorithm is not going to spend enough |
| 1652 | 02:18:07 --> 02:18:11 | time there for them to build their position. It's just going to be going |
| 1653 | 02:18:11 --> 02:18:14 | right to the tick and turn around, go other direction. So they intervene |
| 1654 | 02:18:14 --> 02:18:19 | manually by sending price artificially to these levels. So that way those stops |
| 1655 | 02:18:19 --> 02:18:23 | get engaged and they take the other side of their stops, and it allows them to |
| 1656 | 02:18:23 --> 02:18:30 | build their position on a very narrow range day. So hopefully it's been clear |
| 1657 | 02:18:30 --> 02:18:34 | enough. I can't imagine, in retrospect now how I could have done it any plainer |
| 1658 | 02:18:34 --> 02:18:39 | or simpler, because I'm really satisfied with what I've shared today. I'm content |
| 1659 | 02:18:39 --> 02:18:42 | with it. If there was a way for me to communicate it this way in a book, I |
| 1660 | 02:18:42 --> 02:18:46 | would be absolutely content with not having to mention it again. In another |
| 1661 | 02:18:46 --> 02:18:50 | portion of the book, it's like you've seen it. You watched me explain it. I |
| 1662 | 02:18:50 --> 02:18:54 | showed you the difficulties of why the prices were going to be like this today, |
| 1663 | 02:18:54 --> 02:18:59 | where it was going to go, the bias, it didn't take out the opening range, gap |
| 1664 | 02:18:59 --> 02:19:04 | high, and when it was trading up here, say, Okay, that's good. And now we want |
| 1665 | 02:19:04 --> 02:19:08 | to see everything is still in play for that sell side to be drawn to. But the |
| 1666 | 02:19:08 --> 02:19:12 | main takeaway is this, if you can't recognize these types of days early on, |
| 1667 | 02:19:12 --> 02:19:17 | you're going to fall victim to them. You'll be right about where your |
| 1668 | 02:19:17 --> 02:19:21 | analysis is going and where the price is going to go, but you won't be in the |
| 1669 | 02:19:21 --> 02:19:24 | trade, because you're gonna get knocked out or scared out of it, and that's |
| 1670 | 02:19:24 --> 02:19:27 | happening because of what I'm showing you here today. So I'm gonna leave you |
| 1671 | 02:19:27 --> 02:19:32 | with this question, and I'm gonna close the session now, do you wanna trade in |
| 1672 | 02:19:32 --> 02:19:37 | days like this? Because you have time to do so, or your peers, your friends |
| 1673 | 02:19:37 --> 02:19:41 | online, are trading and they made money, or they are going to try to do something |
| 1674 | 02:19:41 --> 02:19:47 | today. Are you chasing that herd mentality, or are you trying to be an |
| 1675 | 02:19:47 --> 02:19:51 | apex predator that simply goes out and gets their pound of flesh, and they're |
| 1676 | 02:19:51 --> 02:19:54 | not in there trying to show what they did? They're just going out there to |
| 1677 | 02:19:54 --> 02:19:57 | eat. Because if that's what you're trying to do, and you want to go out |
| 1678 | 02:19:57 --> 02:20:02 | there and just make money and have the easiest. Pathway to that and the least |
| 1679 | 02:20:02 --> 02:20:07 | demand, least amount of adversaries in front of you, preventing you to get to |
| 1680 | 02:20:07 --> 02:20:10 | it easily. If you want the hard way, you're going to trade in days like this. |
| 1681 | 02:20:13 --> 02:20:16 | If you want the easy ones, you're going to see when the inefficiencies are not |
| 1682 | 02:20:16 --> 02:20:22 | being spent with multiple candles and trading back and forth inside them. |
| 1683 | 02:20:22 --> 02:20:27 | You're not seeing them hit and respond and deliver right away, and you're |
| 1684 | 02:20:27 --> 02:20:32 | losing the element of precision. Notice that that is the main takeaways. There's |
| 1685 | 02:20:32 --> 02:20:36 | two of them here today. Inefficiencies are spent too much time in and they |
| 1686 | 02:20:36 --> 02:20:43 | revisited multiple times, and the precision delivery is not there. That's |
| 1687 | 02:20:43 --> 02:20:47 | not them changing the algorithm. That's just them simply disrupting order flow |
| 1688 | 02:20:47 --> 02:20:51 | for that session, for that day, and everything will return back to normal. |
| 1689 | 02:20:51 --> 02:20:54 | On Monday, everything will be doing, you know, until they want to go in here and |
| 1690 | 02:20:54 --> 02:20:58 | do it again. But you can't predict all the time when they're going to do it. I |
| 1691 | 02:20:58 --> 02:21:02 | can't do it all the time either. The day might start off good, but then I start |
| 1692 | 02:21:02 --> 02:21:05 | seeing, Oh, wait a minute, it's starting to do something. Go back and watch the |
| 1693 | 02:21:05 --> 02:21:10 | previous sessions where I was telling you how to, I can't remember what. Maybe |
| 1694 | 02:21:10 --> 02:21:15 | you can help me out. I'll mention it in Caleb's video tonight or tomorrow. When |
| 1695 | 02:21:15 --> 02:21:19 | I do the video for him, it's the video where I'm looking at taking an |
| 1696 | 02:21:19 --> 02:21:22 | execution. I'm like, Man, I don't like this. No, I don't like this. And I kept |
| 1697 | 02:21:22 --> 02:21:27 | myself out of seeking. Oh, yeah, it's Monday. It was an actual seek and |
| 1698 | 02:21:27 --> 02:21:37 | destroy. So that skill set came by result of me studying like I taught you |
| 1699 | 02:21:37 --> 02:21:42 | today. The lessons that you really need are the lessons where I'm not teaching |
| 1700 | 02:21:42 --> 02:21:45 | you how to push a button to get into a trade. It's understanding and |
| 1701 | 02:21:45 --> 02:21:49 | recognizing how you're going to lose your ass, how you're going to lose money |
| 1702 | 02:21:49 --> 02:21:52 | and not realize how you're losing it, so that we can't prevent it from happening |
| 1703 | 02:21:52 --> 02:21:57 | again. Whereas now you have a skill set that once you start seeing these |
| 1704 | 02:21:57 --> 02:22:01 | inefficiencies, if price is spending too much time in them, you already have your |
| 1705 | 02:22:01 --> 02:22:06 | first warning sign. Even if they start off with a large range gap, it can fall |
| 1706 | 02:22:06 --> 02:22:10 | into this. And then what you need to do is, Okay, where is it trying to go? |
| 1707 | 02:22:10 --> 02:22:14 | Technically, higher or lower, and you had to stick with that bias. So in this |
| 1708 | 02:22:14 --> 02:22:18 | case, we were bearish. So every time in that day, you're going to see they're |
| 1709 | 02:22:18 --> 02:22:22 | going to take out highs for the Express purposes of unseating those short |
| 1710 | 02:22:22 --> 02:22:28 | holders that trail their protective buy stops lower, locking in profits. The |
| 1711 | 02:22:28 --> 02:22:31 | market will be manual intervened. They'll run up. Well, here it is again. |
| 1712 | 02:22:33 --> 02:22:37 | Here's a high. Runs up, takes out what that high, and then what does this look |
| 1713 | 02:22:37 --> 02:22:40 | like to everybody else? That's a bull flag. That's bullshit. That's what that |
| 1714 | 02:22:40 --> 02:22:47 | is, and then it drops, and it attacks the lows here. So by recognizing and |
| 1715 | 02:22:47 --> 02:22:53 | seeing what the market's likely to do in this type of environment, it at least |
| 1716 | 02:22:53 --> 02:22:58 | gives you the ability to say to yourself, is it really worth my time and |
| 1717 | 02:22:58 --> 02:23:05 | energy to trade in this? Because I might not be successful versus when it's a low |
| 1718 | 02:23:05 --> 02:23:10 | resistance liquidity run day, where it's just so easy to fucking make money, it's |
| 1719 | 02:23:10 --> 02:23:14 | like, what the hell this is like candy literally, like a candy store going in |
| 1720 | 02:23:14 --> 02:23:18 | there and taking positions over and over and over again, long and short, up, |
| 1721 | 02:23:18 --> 02:23:22 | down, up down, all over the place, because it's not being manipulated |
| 1722 | 02:23:22 --> 02:23:26 | artificially by manual intervention, where they go in and disrupt everything |
| 1723 | 02:23:28 --> 02:23:34 | left to its own. Script. Price will be perfect. It'll stop to the tick or one |
| 1724 | 02:23:34 --> 02:23:40 | tick above where you think it's going to go to afford that entry price. But when |
| 1725 | 02:23:40 --> 02:23:43 | you don't see those signatures, that's the surest sign that you need to either |
| 1726 | 02:23:43 --> 02:23:47 | move to the sidelines or drop your leverage to the lowest degree you can, |
| 1727 | 02:23:49 --> 02:23:54 | or simply paper trader or tapered it and exercise discipline over yourself, |
| 1728 | 02:23:55 --> 02:24:00 | develop self control, be responsible with your actions and know why you're |
| 1729 | 02:24:00 --> 02:24:04 | doing something, and if you know that you're going to be forcing yourself to |
| 1730 | 02:24:04 --> 02:24:09 | trade like this, that means that you are a gambler, and I promise you this, you |
| 1731 | 02:24:09 --> 02:24:13 | are going to blow your accounts. You're going to keep making the same mistakes. |
| 1732 | 02:24:13 --> 02:24:16 | You're never going to learn from them. You're going to do the same thing I did |
| 1733 | 02:24:16 --> 02:24:21 | for the first three and a half years, over and over and over again, never |
| 1734 | 02:24:21 --> 02:24:26 | learning your lesson and paying a higher price for your education than you |
| 1735 | 02:24:26 --> 02:24:30 | should. You don't have to keep blowing your accounts. You don't have to keep |
| 1736 | 02:24:30 --> 02:24:34 | spending needless hours doing dumb shit. These are the lessons that make the |
| 1737 | 02:24:34 --> 02:24:39 | money. These are the lessons because it's not about how much trading you get |
| 1738 | 02:24:39 --> 02:24:43 | done today or over the course of the week, is how much money you have made at |
| 1739 | 02:24:43 --> 02:24:47 | the end of the year, when you get your 1090 B, and most of you don't even know |
| 1740 | 02:24:47 --> 02:24:50 | the that is, that is a statement you get from your broker that says you made |
| 1741 | 02:24:50 --> 02:24:57 | money. That's, that's, that's what you get when you do things the right way |
| 1742 | 02:24:59 --> 02:25:04 | and. Should be your goal to make money, not to impress me, not to impress your |
| 1743 | 02:25:04 --> 02:25:10 | peers. Because, trust me, anything you do that novelty, that moment of, oh, |
| 1744 | 02:25:10 --> 02:25:13 | wow, you may have done something impressive, but they're not going to |
| 1745 | 02:25:13 --> 02:25:18 | tell you, as impressive as it may be to you. So why invite them to it? And why |
| 1746 | 02:25:18 --> 02:25:22 | ask yourself to trade in these environments when there's better trading |
| 1747 | 02:25:22 --> 02:25:27 | environments, and that's what I teach my students. That's what was that is what |
| 1748 | 02:25:27 --> 02:25:31 | paid mentorship. Was paid mentorship with ICT, the private mentorship was |
| 1749 | 02:25:31 --> 02:25:37 | teaching them the stark contrast between these types of days and these types of |
| 1750 | 02:25:37 --> 02:25:43 | environments, recognizing them then teaching them over time with skill that |
| 1751 | 02:25:43 --> 02:25:47 | you learn and you glean from trading with a low resistance conditions where |
| 1752 | 02:25:47 --> 02:25:52 | it's easy to trade, you get really, really good trading in those but |
| 1753 | 02:25:52 --> 02:25:57 | studying when the market's like this, you will start to see how, even in these |
| 1754 | 02:25:57 --> 02:26:02 | days, you can take take setups, But they're far and few between. Whereas a |
| 1755 | 02:26:02 --> 02:26:05 | low resistance liquidity run day, I could be buying and selling all day |
| 1756 | 02:26:05 --> 02:26:11 | long, up down, up down, and never have any adversity in these types of days. If |
| 1757 | 02:26:11 --> 02:26:15 | I try to do that, I'll get beat up a little bit. So my question to you is, |
| 1758 | 02:26:16 --> 02:26:22 | which one are you going to try to strive to focus on recognizing and only trading |
| 1759 | 02:26:22 --> 02:26:27 | in those environments. Do you have the discipline to do that? Do you have the |
| 1760 | 02:26:27 --> 02:26:31 | interest in trying to do everything you can to prevent the likelihood of you |
| 1761 | 02:26:31 --> 02:26:35 | blowing out because of the difficulty that comes with these types of days? |
| 1762 | 02:26:36 --> 02:26:39 | Remember, you're starting out. I'm not saying someone knows how to trade is |
| 1763 | 02:26:39 --> 02:26:43 | going to have difficulty trading this debt. I'm saying to you that are brand |
| 1764 | 02:26:43 --> 02:26:49 | new, or relatively new, you're going to look at this as it's a choppy shit day. |
| 1765 | 02:26:49 --> 02:26:53 | Oh, the Marcus is shit today. It's a price action. Was garbage today. It's |
| 1766 | 02:26:53 --> 02:26:58 | not garbage. You just don't know what you're looking at, and your experience |
| 1767 | 02:26:58 --> 02:27:00 | level is so low, |
| 1768 | 02:27:01 --> 02:27:07 | you won't be able to navigate in it. But the problem is, some of you simply have |
| 1769 | 02:27:07 --> 02:27:14 | a superiority complex, like you don't want to be told that this is something |
| 1770 | 02:27:14 --> 02:27:18 | you should avoid, and you take it as a personal challenge to go. ICT said that |
| 1771 | 02:27:18 --> 02:27:22 | these are hard days. I'm going to go out there. I'm going to trade, okay, prove |
| 1772 | 02:27:22 --> 02:27:26 | your point, because you're gonna prove mine. You're only gonna cherry pick what |
| 1773 | 02:27:26 --> 02:27:33 | you show. You won't show everything. And why do that focus on trading when the |
| 1774 | 02:27:33 --> 02:27:38 | days are easy, absolutely easy. It's like taking candy from a baby, man. It's |
| 1775 | 02:27:38 --> 02:27:44 | like, so fun. And it's makes it makes it easy, fun and enjoyable. Trading should |
| 1776 | 02:27:44 --> 02:27:47 | be enjoyable. If it's stressful, you're doing it wrong. You're over leveraging, |
| 1777 | 02:27:47 --> 02:27:50 | you're over trading, and you don't have a model that's that's what it's telling |
| 1778 | 02:27:50 --> 02:27:55 | you. And I'm trying to do my best by supplying my students with a model that |
| 1779 | 02:27:55 --> 02:28:00 | hopefully they can match with their personality, and teaching them how that |
| 1780 | 02:28:00 --> 02:28:05 | absolutely, you can predict price, you can predict the future, and you're not |
| 1781 | 02:28:05 --> 02:28:09 | anticipating to shit like I'm not reacting anything. I said that wrong. |
| 1782 | 02:28:09 --> 02:28:14 | You are anticipating. You're not reacting. If I have to respond to |
| 1783 | 02:28:14 --> 02:28:20 | something that I didn't see coming, I can't trust that that's like a jump |
| 1784 | 02:28:20 --> 02:28:26 | scare, like my kids have found out several times, they almost got jacked in |
| 1785 | 02:28:26 --> 02:28:29 | a jaw when they were growing up as teenagers. Like jumping in front of me, |
| 1786 | 02:28:29 --> 02:28:31 | and they get solar plexus striking there, and they can't breathe for a |
| 1787 | 02:28:31 --> 02:28:36 | couple minutes. It's not because I didn't. You remember that? Yeah, it's |
| 1788 | 02:28:36 --> 02:28:40 | not that I don't It's not that I don't love my kids and I don't want to hurt |
| 1789 | 02:28:40 --> 02:28:43 | them, but I train myself, if someone's going to do something like that, it's |
| 1790 | 02:28:43 --> 02:28:46 | probably danger, I'm going to neutralize it. So you don't want to do that type of |
| 1791 | 02:28:46 --> 02:28:50 | stuff with your trading. You don't want to increase the level of difficulty, |
| 1792 | 02:28:50 --> 02:28:55 | just for the sake of you want to trade. So hopefully I communicate that I'm |
| 1793 | 02:28:55 --> 02:29:01 | starting to ramble on a little bit now, but I enjoyed today. I enjoyed teaching |
| 1794 | 02:29:01 --> 02:29:06 | it today. I enjoyed showcasing it today. I'm hoping, and then you'll let me know |
| 1795 | 02:29:06 --> 02:29:10 | in the comments and feedback on Twitter and on the post I put on how to usually |
| 1796 | 02:29:10 --> 02:29:13 | do on my YouTube channel. I will usually put the data, and I'll say, what did you |
| 1797 | 02:29:13 --> 02:29:18 | learn today in the live stream. If this has helped you. You know, I'd like to |
| 1798 | 02:29:18 --> 02:29:22 | know that for the for the jokers to say, I learned nothing. I only see that |
| 1799 | 02:29:22 --> 02:29:25 | comment one time, and then I block it. I never see you again, because if you |
| 1800 | 02:29:25 --> 02:29:28 | wasted your time typing it, I will never waste my time reading your shit again. |
| 1801 | 02:29:28 --> 02:29:32 | But I want to know, do you see the advantages of seeing price like this? |
| 1802 | 02:29:32 --> 02:29:37 | Because I'm I have seen students literally leave paid mentorship because |
| 1803 | 02:29:37 --> 02:29:41 | they couldn't see the value in this. They were took they were too short |
| 1804 | 02:29:41 --> 02:29:45 | sighted to see the value in understanding how to see how things are |
| 1805 | 02:29:45 --> 02:29:50 | going to be so much more against you. The level of difficulty that's natural |
| 1806 | 02:29:50 --> 02:29:55 | with trading anyway, is now been multiplied to a degree that you can't |
| 1807 | 02:29:55 --> 02:30:00 | measure until after the day is done, because you don't know what stopped. To |
| 1808 | 02:30:00 --> 02:30:03 | get because you're you, you're you're brand new. You don't know what they're |
| 1809 | 02:30:03 --> 02:30:06 | going to be running for. You don't know how they're going to work with the time |
| 1810 | 02:30:06 --> 02:30:10 | of the day and how they're going to run for specific order above or below the |
| 1811 | 02:30:10 --> 02:30:14 | marketplace. You don't, you don't have that, that skill set yet. So wouldn't it |
| 1812 | 02:30:14 --> 02:30:18 | be advantageous for you to start classifying your day when you journal |
| 1813 | 02:30:20 --> 02:30:26 | always include that factor. Do you see the in the imbalances, spending too much |
| 1814 | 02:30:26 --> 02:30:33 | time holding price inside them? If you see that, then you are in high |
| 1815 | 02:30:33 --> 02:30:38 | resistance liquidity conditions. If you don't see that, you are in low |
| 1816 | 02:30:38 --> 02:30:42 | resistance liquidity run signatures. That is easy definition, folks. That is |
| 1817 | 02:30:42 --> 02:30:45 | not something hard. It's not an ambiguous thing where it's Oh, it's a |
| 1818 | 02:30:45 --> 02:30:50 | after effect. You can see it real time. You watch me do it now, two times over, |
| 1819 | 02:30:50 --> 02:30:54 | live price action, telling you, nope, this is problematic, and it's still the |
| 1820 | 02:30:54 --> 02:30:58 | same logic. It's not going to morph into something else. There's no other extra |
| 1821 | 02:30:58 --> 02:31:01 | things I'm going to teach around it. You have you now have it, but are you going |
| 1822 | 02:31:01 --> 02:31:06 | to use it? Are you going to help it? Help you guide yourself and navigate |
| 1823 | 02:31:06 --> 02:31:12 | through price action? Now, knowing this, I don't know you, tell me that's going |
| 1824 | 02:31:12 --> 02:31:19 | to be it for today. I had fun this week. I will do my best to try to come up with |
| 1825 | 02:31:19 --> 02:31:24 | some kind of a lecture this weekend and stuff, a review or whatnot. Uh, Caleb's |
| 1826 | 02:31:24 --> 02:31:27 | video will probably not think about, I'm not going to do anything tonight. I'll |
| 1827 | 02:31:27 --> 02:31:31 | probably end up on his channel Saturday evening, around nine o'clock My Time, |
| 1828 | 02:31:31 --> 02:31:36 | Eastern Time, and then probably earlier in the afternoon, maybe five o'clock, |
| 1829 | 02:31:36 --> 02:31:38 | I'll have something on my channel in terms of, like, a teaching, lecture, |
| 1830 | 02:31:38 --> 02:31:42 | what? Not maybe some kind of review. But that's it for this one, I hope you found |
| 1831 | 02:31:42 --> 02:31:46 | it insightful. Enjoy your weekend. Be safe and Lord willing, we'll do that |
| 1832 | 02:31:46 --> 02:31:48 | again on Monday. Take care. Bye. |