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2 |1 |00:01:00 ~-~-> 00:01:14 |ICT: Well, good afternoon, folks. If you guys could just give me a heads up on x,
3 |2 |00:01:14 ~-~-> 00:01:21 |if you follow me there, see me, five by five, you guys can hear me. I'll be
4 |3 |00:01:21 ~-~-> 00:01:29 |singing Celine Dion today, so that's what's on that docket. Acapella. I
5 |4 |00:01:40 ~-~-> 00:02:01 |here. All right, thank you, Jonathan. Jonathan Max Neil, thank you. Alrighty.
6 |5 |00:02:01 ~-~-> 00:02:10 |So right, so it's a little bit of a different schedule for us today. I
7 |6 |00:02:10 ~-~-> 00:02:14 |wanted to take advantage of the opportunity of showing you what I was
8 |7 |00:02:14 ~-~-> 00:02:19 |outlining last week. That way you can see that there is an advantage to
9 |8 |00:02:19 ~-~-> 00:02:25 |knowing what market profile you're in. Now I don't mean market profile in the
10 |9 |00:02:25 ~-~-> 00:02:29 |sense that it's the volume, overly on top of your chart. I'm talking about
11 |10 |00:02:29 ~-~-> 00:02:35 |that kind of like the schematic, the road map, the lay of the land, if you
12 |11 |00:02:35 ~-~-> 00:02:40 |will, how the market will behave. Let's say like that. It's not enough to have a
13 |12 |00:02:40 ~-~-> 00:02:45 |draw on liquidity. It's also, it's important for you to also have a
14 |13 |00:02:45 ~-~-> 00:02:50 |understanding of how the market will deliver price. And if we don't have a
15 |14 |00:02:53 ~-~-> 00:02:57 |acceptance to how the markets are electronic, electronically delivered
16 |15 |00:02:58 ~-~-> 00:03:03 |that that means it's AI, I mean, it's algorithmic, and that means when we do
17 |16 |00:03:03 ~-~-> 00:03:10 |our buying and selling, we're pretty much subservient to what that price
18 |17 |00:03:10 ~-~-> 00:03:15 |engine is doing. So if the engine on prices rallying higher relentlessly, and
19 |18 |00:03:15 ~-~-> 00:03:20 |it matters not how many people are coming in to short sell it. It doesn't
20 |19 |00:03:20 ~-~-> 00:03:23 |matter if there's a lot of buyers, it's just in a buy program just keeps going
21 |20 |00:03:23 ~-~-> 00:03:32 |higher, we're going to get filled based on that. And one of the advantages that
22 |21 |00:03:32 ~-~-> 00:03:38 |I had when I was coming up is to, number one, lose a lot of money doing things
23 |22 |00:03:38 ~-~-> 00:03:42 |incorrectly, and then finally, learning the lesson to look behind price and not
24 |23 |00:03:42 ~-~-> 00:03:47 |just simply say, Okay, I want to be a buyer because of this, or I want to be a
25 |24 |00:03:47 ~-~-> 00:03:52 |short seller because of that. I needed to know a lot of elements about time,
26 |25 |00:03:53 ~-~-> 00:03:57 |and I wanted to know what these conditions would look like, what
27 |26 |00:03:58 ~-~-> 00:04:04 |characteristics would they have that would repeat when I would go in and
28 |27 |00:04:04 ~-~-> 00:04:09 |expect the market to perform a certain way, and then it is denying me that
29 |28 |00:04:09 ~-~-> 00:04:15 |opportunity to see precision, timeliness, the explosiveness that I
30 |29 |00:04:15 ~-~-> 00:04:23 |would want to See in my short term trades. What characteristics were either
31 |30 |00:04:23 ~-~-> 00:04:26 |noticeable before going into that condition, and then not seeing it
32 |31 |00:04:26 ~-~-> 00:04:32 |realized in price action, and therefore losing or finding the opportunities
33 |32 |00:04:32 ~-~-> 00:04:38 |where these characteristics would not be present that would hinder my ability for
34 |33 |00:04:38 ~-~-> 00:04:45 |the trades that I would participate in to see profit. So differentiating the
35 |34 |00:04:45 ~-~-> 00:04:50 |market conditions between a low resistance liquidity condition, where
36 |35 |00:04:50 ~-~-> 00:04:56 |it's easy trading very fast runs easy, obvious levels for targets, obvious
37 |36 |00:04:56 ~-~-> 00:05:01 |level where your stop should be, and just a real fast. On two targets. That's
38 |37 |00:05:01 ~-~-> 00:05:07 |a real it's a real pleasant environment to trade in. But that environment, as
39 |38 |00:05:08 ~-~-> 00:05:13 |I've indicated many times, it's not an everyday instance. So low resistance
40 |39 |00:05:13 ~-~-> 00:05:19 |liquidity runs are not in every day, every session, delivery in price. So it
41 |40 |00:05:19 ~-~-> 00:05:25 |is my goal, basically, as as the educator, is to kind of counsel you to
42 |41 |00:05:25 ~-~-> 00:05:29 |look for these types of signatures and price actions that would lend well to
43 |42 |00:05:29 ~-~-> 00:05:35 |you observing and identifying when it's problematic or where it's likely to be
44 |43 |00:05:35 ~-~-> 00:05:40 |problematic. So that way, at the very minimum, you're going to refrain from
45 |44 |00:05:40 ~-~-> 00:05:45 |using the highest form of leverage that you usually would. So with that in mind,
46 |45 |00:05:45 ~-~-> 00:05:52 |I want to kind of take your attention over to the NASDAQ. This is our December
47 |46 |00:05:52 ~-~-> 00:05:57 |contract on a one minute basis. And I'm going to take the lipstick off for a
48 |47 |00:05:57 ~-~-> 00:06:01 |moment, because I want to see, well, no, I mean, leave it on there, because if I
49 |48 |00:06:01 ~-~-> 00:06:05 |do that, the watermark goes away, and then Yahoo's on YouTube and whatnot.
50 |49 |00:06:05 ~-~-> 00:06:08 |They post it on their channel, then I got to take it down and read their cry
51 |50 |00:06:08 ~-~-> 00:06:15 |via email. So you go to copyright strike against me. So when we looked at last
52 |51 |00:06:15 ~-~-> 00:06:22 |week's lecture, or lectures, I talked about how where we can trade the pre
53 |52 |00:06:22 ~-~-> 00:06:29 |market session, and what type of climate would indicate when I would trade
54 |53 |00:06:29 ~-~-> 00:06:33 |predominantly just the pre market session and not during the am opening
55 |54 |00:06:33 ~-~-> 00:06:38 |session. Now, the am opening session is the 93 opening bell all the way to
56 |55 |00:06:38 ~-~-> 00:06:42 |lunch. Okay, so that's like the am session, but it's the am opening
57 |56 |00:06:42 ~-~-> 00:06:46 |session, because it's defined by the 930 opening bell. Anything prior to 930
58 |57 |00:06:46 ~-~-> 00:06:50 |opening bell, Eastern Time, it's always going to be referred to as pre market.
59 |58 |00:06:52 ~-~-> 00:06:58 |So London is pre market. Asia, the night before is pre market. But very specific
60 |59 |00:06:58 ~-~-> 00:07:03 |elements of pre market being seven o'clock in the morning, Eastern Time to
61 |60 |00:07:03 ~-~-> 00:07:07 |nine o'clock, or the opening bell at 930 those are really good operating hours.
62 |61 |00:07:08 ~-~-> 00:07:14 |And a lot of professionals, we have kept that little segment of price action in
63 |62 |00:07:14 ~-~-> 00:07:18 |that time of the day to ourselves. We haven't really drawn too much attention
64 |63 |00:07:18 ~-~-> 00:07:22 |to it, because everybody understands that the 930 opening bell is that's the
65 |64 |00:07:22 ~-~-> 00:07:26 |bee's knees, that's everybody wants to be there. That's where all the
66 |65 |00:07:26 ~-~-> 00:07:29 |excitement is. That's where all the large order flows. Is piped in, the
67 |66 |00:07:29 ~-~-> 00:07:35 |volume is shoved in through that that first 30 minutes. And it is important
68 |67 |00:07:35 ~-~-> 00:07:39 |for you to know that that's not all there is just like there's an
69 |68 |00:07:39 ~-~-> 00:07:43 |opportunity to be trading in the lunch hour, which is usually a reversal
70 |69 |00:07:43 ~-~-> 00:07:48 |mechanism whatever was profitable in the morning. Generally, we'll either see a
71 |70 |00:07:48 ~-~-> 00:07:54 |consolidation or a alt right reversal on whatever was profitable in the morning.
72 |71 |00:07:54 ~-~-> 00:07:59 |So if it went up in the morning once, we'll go back against that, either in
73 |72 |00:07:59 ~-~-> 00:08:04 |its entirety of the move or a large degree of retracement, and then continue
74 |73 |00:08:05 ~-~-> 00:08:09 |after 130 in the afternoon, Eastern Time, resume, whatever the morning
75 |74 |00:08:09 ~-~-> 00:08:15 |session, trade trend or direction it was moving in. But if you looked at the
76 |75 |00:08:15 ~-~-> 00:08:18 |economic calendar, and hopefully you do this, okay, you should be spending time
77 |76 |00:08:18 ~-~-> 00:08:21 |with that on the weekend, kind of strategizing what it is you're gonna be
78 |77 |00:08:21 ~-~-> 00:08:27 |focusing on for the week to come. And you should have noticed that there is an
79 |78 |00:08:27 ~-~-> 00:08:31 |absence of any kind of medium impact or high impact news driver for Monday.
80 |79 |00:08:33 ~-~-> 00:08:39 |Because of that, we want to look at the pre market session, because many times
81 |80 |00:08:39 ~-~-> 00:08:45 |that's going to afford you a lower risk opportunity, and it's going to be more
82 |81 |00:08:45 ~-~-> 00:08:54 |likely to be low resistance versus the am opening session being higher
83 |82 |00:08:54 ~-~-> 00:08:58 |resistance, because there's an absence of any kind of news. That means that the
84 |83 |00:08:58 ~-~-> 00:09:05 |market could either do one of two things. It could just be consolidating,
85 |84 |00:09:05 ~-~-> 00:09:12 |going sideways, doing very much of nothing, or it could become surprisingly
86 |85 |00:09:12 ~-~-> 00:09:19 |one sided, which doesn't always indicate in advance what side that's going to be
87 |86 |00:09:19 ~-~-> 00:09:23 |on. It could be met with a large Judah swing, and then it does a directional
88 |87 |00:09:23 ~-~-> 00:09:28 |move. So it's kind of like a like, it's an outlier, you know, a day or a profile
89 |88 |00:09:28 ~-~-> 00:09:33 |that I wouldn't expect, and maybe you would fall victim to that and miss that
90 |89 |00:09:33 ~-~-> 00:09:37 |type of day. So to avoid all that, to avoid all the uncertainty around those
91 |90 |00:09:37 ~-~-> 00:09:43 |types of days, and it's a Monday, so that's also kind of like what I'm trying
92 |91 |00:09:43 ~-~-> 00:09:46 |to remind you of, because it's Monday,
93 |92 |00:09:47 ~-~-> 00:09:52 |I I've had a lot of folks around the internet kind of like spread
94 |93 |00:09:52 ~-~-> 00:09:57 |misinformation, because they'll say, ICT never trades on Mondays, and that's not
95 |94 |00:09:57 ~-~-> 00:10:02 |true. I have a lot of rules around Monday. Days, because Monday is like
96 |95 |00:10:02 ~-~-> 00:10:06 |amateur hour. You know, it's generally where everybody comes out there, out the
97 |96 |00:10:06 ~-~-> 00:10:09 |gate and they want to do something, because they've been sitting on their
98 |97 |00:10:09 ~-~-> 00:10:12 |hands the entirety of the week on the weekend, and they get some kind of trade
99 |98 |00:10:12 ~-~-> 00:10:18 |idea, or they talk to people on online, in chat rooms or whatever medium they're
100 |99 |00:10:18 ~-~-> 00:10:22 |using, and they get all popped up on goofballs, thinking that somebody has
101 |100 |00:10:22 ~-~-> 00:10:26 |better insight than they do, and what happens if they're right and you don't
102 |101 |00:10:26 ~-~-> 00:10:30 |trade like they do, so you end up building the sentiment idea. So that's
103 |102 |00:10:30 ~-~-> 00:10:36 |why I'm a little leery on trading right out the gate on Mondays, because
104 |103 |00:10:36 ~-~-> 00:10:40 |everybody out there that doesn't know how to trade, doesn't know how the
105 |104 |00:10:40 ~-~-> 00:10:44 |markets work. They don't understand the unwilling mechanics what makes these
106 |105 |00:10:44 ~-~-> 00:10:50 |price engines move. They're basing their assumptions and their actions on a hope
107 |106 |00:10:50 ~-~-> 00:10:56 |and a whim and a prayer, and those three things generally don't bode well for
108 |107 |00:10:56 ~-~-> 00:11:00 |profitable, consistent trading. So on Mondays, this is where you write this
109 |108 |00:11:00 ~-~-> 00:11:06 |stuff down, folks, every Monday of Non Farm Payroll week, that means usually
110 |109 |00:11:06 ~-~-> 00:11:09 |the first week of every month. And yes, I'm aware that we're still in October,
111 |110 |00:11:09 ~-~-> 00:11:14 |but I'm reminding you of these rules. Okay, so on Non Farm Payroll weeks, I am
112 |111 |00:11:14 ~-~-> 00:11:20 |absolutely every Monday of that week. I'm trading that because that's where
113 |112 |00:11:20 ~-~-> 00:11:23 |the cleanest price action is going to be well, Monday and Tuesday of that week of
114 |113 |00:11:23 ~-~-> 00:11:28 |Non Farm Payroll. So whenever there's an economic new driver that has NFP or Non
115 |114 |00:11:28 ~-~-> 00:11:35 |Farm Payroll, Friday, I want to be done trading by Wednesday morning, am
116 |115 |00:11:35 ~-~-> 00:11:39 |session. And then, unless something extremely overbearing in terms of
117 |116 |00:11:39 ~-~-> 00:11:45 |obvious, well, I trade on Thursday or Non Farm Payroll Friday. I can. I have
118 |117 |00:11:45 ~-~-> 00:11:49 |done it, but I just generally like to do all my work on the Monday and Tuesday.
119 |118 |00:11:50 ~-~-> 00:11:54 |And at worst case scenario, if I'm up and I'm not, if I'm not sleeping, I'll
120 |119 |00:11:54 ~-~-> 00:11:59 |do something in the morning session. But predominantly, I'm trading on the Monday
121 |120 |00:11:59 ~-~-> 00:12:03 |session of that week, and I'm content with whatever I earn there. I don't do
122 |121 |00:12:03 ~-~-> 00:12:06 |anything on Tuesday. I don't do anything on Wednesday, if I made money on on
123 |122 |00:12:06 ~-~-> 00:12:13 |Monday, of Non Farm Payroll every other week, every single week, apart from Non
124 |123 |00:12:13 ~-~-> 00:12:21 |Farm Payroll, I am testing to see if there's certain things in the works.
125 |124 |00:12:21 ~-~-> 00:12:25 |First and foremost is, what does the economic calendar say? Because if the
126 |125 |00:12:25 ~-~-> 00:12:30 |economic calendar is devoid of any kind of high impact or medium impact news
127 |126 |00:12:30 ~-~-> 00:12:37 |driver at 830 or after the opening bell, at 930 or so, then I know that I want to
128 |127 |00:12:37 ~-~-> 00:12:42 |be trading on the pre market session. That means seven o'clock in the morning,
129 |128 |00:12:42 ~-~-> 00:12:48 |Eastern Time, up to the 930 opening bill. But I don't want to be in at 930
130 |129 |00:12:48 ~-~-> 00:12:53 |or afterwards, because listen to the rule now. It's not Non Farm Payroll
131 |130 |00:12:53 ~-~-> 00:13:03 |Friday. It is a Monday. There is an absence of medium or high impact news
132 |131 |00:13:03 ~-~-> 00:13:10 |drivers on the economic calendar. So you have so many things complicating the the
133 |132 |00:13:10 ~-~-> 00:13:15 |battlefield, if you will, at 930 for everyone else out there that's not
134 |133 |00:13:15 ~-~-> 00:13:19 |really equipped to be trading, there's a lot of people out there that are
135 |134 |00:13:19 ~-~-> 00:13:22 |pantomime, like they have an understanding of the marketplace, but
136 |135 |00:13:22 ~-~-> 00:13:25 |they're not really aware what it is they're doing, and they're losing money
137 |136 |00:13:25 ~-~-> 00:13:32 |behind the scenes, or they're just completely lost. For me, I want to think
138 |137 |00:13:32 ~-~-> 00:13:36 |about it professionally, and think that I know that they're going to punish the
139 |138 |00:13:36 ~-~-> 00:13:43 |less informed individuals at 930 they're going to do that. It doesn't mean that
140 |139 |00:13:43 ~-~-> 00:13:49 |you can't determine where the market's going to draw to Okay, so just make make
141 |140 |00:13:49 ~-~-> 00:13:53 |sure you honor that. Make sure you are aware that I have made that very clear
142 |141 |00:13:53 ~-~-> 00:13:58 |here. I'm not suggesting by any means that you can't trade on a Monday like
143 |142 |00:13:58 ~-~-> 00:14:02 |this. I'm not suggesting that at all. But because I'm acting in the role as a
144 |143 |00:14:02 ~-~-> 00:14:08 |mentor, as an educator, I'm being responsible, as that educator, to speak
145 |144 |00:14:08 ~-~-> 00:14:14 |to the newest form of students that's coming to my my work, this is all rehash
146 |145 |00:14:14 ~-~-> 00:14:17 |for people that's been with me for a long time, and it's unfortunate because
147 |146 |00:14:17 ~-~-> 00:14:23 |they have to hear that, because I have always a new round of new new students
148 |147 |00:14:23 ~-~-> 00:14:28 |coming in. We said employees, but a new round of students coming in all the
149 |148 |00:14:28 ~-~-> 00:14:33 |time. So I want to take advantage of the opportunity anytime I talk about these
150 |149 |00:14:33 ~-~-> 00:14:37 |types things like trading on Monday, there is a lot of misinformation out
151 |150 |00:14:37 ~-~-> 00:14:41 |there that says that I don't and I teach not to trade on Mondays. I teach very
152 |151 |00:14:41 ~-~-> 00:14:47 |specific rules, so that way you, as a student of mine, would know very clear
153 |152 |00:14:47 ~-~-> 00:14:52 |that this is a Monday that I would or would not be trading. And if I'm not
154 |153 |00:14:52 ~-~-> 00:14:57 |seeing an economic news driver, that means some kind of report at 830 or
155 |154 |00:14:57 ~-~-> 00:15:04 |during the 930 to eight. I'm sorry. Right 930 to 1030 portion of the morning
156 |155 |00:15:04 ~-~-> 00:15:09 |session, then I'm not going to I'm not going to trade the am opening session.
157 |156 |00:15:09 ~-~-> 00:15:16 |I'm going to trade ahead of the opening bell. And that, to me, is one of the
158 |157 |00:15:16 ~-~-> 00:15:21 |best things I ever learned how to do and condition myself with discipline. Say,
159 |158 |00:15:21 ~-~-> 00:15:27 |Okay, I have this rule. I have a rule that says if these conditions are met,
160 |159 |00:15:28 ~-~-> 00:15:33 |it's a Monday, there's no economic data coming out, then I know that I'm going
161 |160 |00:15:33 ~-~-> 00:15:39 |to get punished with harder delivery in price. That means it's going to be high
162 |161 |00:15:39 ~-~-> 00:15:43 |resistance. It does not mean that we will not see our objectives traded to
163 |162 |00:15:43 ~-~-> 00:15:48 |because if you look on Twitter this morning or X, I showed you a live trade
164 |163 |00:15:48 ~-~-> 00:15:53 |with real money in a real regulated broker, hitting my target. That was my
165 |164 |00:15:53 ~-~-> 00:15:58 |pre market session short. That's all I cared about doing. I didn't care about
166 |165 |00:15:58 ~-~-> 00:16:02 |going long. I didn't care about getting short after 930 I didn't care about
167 |166 |00:16:02 ~-~-> 00:16:06 |silver bullets. I didn't care about optimal trade entries, model 2020, twos.
168 |167 |00:16:06 ~-~-> 00:16:10 |I didn't worry about none of that stuff. I went in, got some bread, and I left,
169 |168 |00:16:10 ~-~-> 00:16:14 |and I did things on my own personal schedule that required my attention
170 |169 |00:16:14 ~-~-> 00:16:20 |elsewhere. So you can clearly see that in that chart, and what I annotated in
171 |170 |00:16:20 ~-~-> 00:16:25 |that post this morning on the x that my interest was in the clustering of
172 |171 |00:16:25 ~-~-> 00:16:30 |previous week, and admittedly, at the time of the recording, I only toggled
173 |172 |00:16:30 ~-~-> 00:16:35 |over to that chart so that way you would see some annotations. But my executions
174 |173 |00:16:36 ~-~-> 00:16:40 |are basically based on a blank chart. But I know some of you are going to look
175 |174 |00:16:40 ~-~-> 00:16:44 |at that and ask, what did you frame that trade on? Instead of going in your
176 |175 |00:16:44 ~-~-> 00:16:48 |charts and finding what it is that's available that I could have used on
177 |176 |00:16:48 ~-~-> 00:16:53 |that. So I'm not going to hold your hand the entire process. It's important for
178 |177 |00:16:53 ~-~-> 00:16:57 |you to see there's gaps in my teachings. So there are opportunities for you to go
179 |178 |00:16:57 ~-~-> 00:17:00 |in and investigate the information yourself, if you're not going in your
180 |179 |00:17:00 ~-~-> 00:17:04 |own charts, seeing whatever I'm executing on, and you're not doing the
181 |180 |00:17:04 ~-~-> 00:17:10 |the leg work, if you will, in your own charts, annotating, journaling, back,
182 |181 |00:17:10 ~-~-> 00:17:13 |testing, looking for other PD arrays. Because I'm not trying to force you into
183 |182 |00:17:13 ~-~-> 00:17:18 |the model of just simply using a fair value gap. But you need to understand
184 |183 |00:17:18 ~-~-> 00:17:24 |that we may have visibility, I have visibility. You may have visibility. May
185 |184 |00:17:24 ~-~-> 00:17:27 |not have visibility because your experience factor is too low right now,
186 |185 |00:17:27 ~-~-> 00:17:32 |but you will get over time, meaning that even though that the conditions were met
187 |186 |00:17:32 ~-~-> 00:17:37 |that it's a Monday, no employment data, I'm sorry, no economic data coming out
188 |187 |00:17:37 ~-~-> 00:17:41 |at 830 nothing after 930 all the way through to 1030 there was nothing to
189 |188 |00:17:41 ~-~-> 00:17:47 |speak of in terms of increasing the volatility by having these smoke screens
190 |189 |00:17:47 ~-~-> 00:17:51 |that the News Calendar uses, they don't cause the market to go up and down, but
191 |190 |00:17:51 ~-~-> 00:17:58 |the the interventions that come in around these times, they use them as a
192 |191 |00:17:58 ~-~-> 00:18:01 |smoke screen. So that way you think, and everybody else talks about it online.
193 |192 |00:18:01 ~-~-> 00:18:05 |Oh, that so and so report, or we had real bad economic news come out today,
194 |193 |00:18:05 ~-~-> 00:18:08 |or bad data came out, or positive data coming out. And none of that's true,
195 |194 |00:18:09 ~-~-> 00:18:13 |none of none of that is absolutely has no bearing on why the market's going up
196 |195 |00:18:13 ~-~-> 00:18:18 |and down, but they're perfectly little excuses for when the market does
197 |196 |00:18:18 ~-~-> 00:18:22 |something that's opposed to what those reports suggest, meaning that if the
198 |197 |00:18:22 ~-~-> 00:18:26 |report's bullish or bearish, and the market does the opposite, then they
199 |198 |00:18:26 ~-~-> 00:18:29 |quickly come out and say, well, the market priced in that stuff, but you
200 |199 |00:18:29 ~-~-> 00:18:33 |didn't say that. Nobody out there is saying that beforehand, so it's quickly
201 |200 |00:18:33 ~-~-> 00:18:37 |forgotten because the market's doing something else. So you're never really
202 |201 |00:18:37 ~-~-> 00:18:41 |paying attention that it's kind of much like a magician's sleight of hand.
203 |202 |00:18:41 ~-~-> 00:18:45 |You're really never seeing the dirty hand doing the work, because you're
204 |203 |00:18:45 ~-~-> 00:18:53 |always being distracted by the red herring. So I told you we would be
205 |204 |00:18:53 ~-~-> 00:18:57 |focusing on a draw. My interest was the draw on the clustered previous week,
206 |205 |00:18:59 ~-~-> 00:19:02 |which is here. And if you look at the recording, you'll see that it says
207 |206 |00:19:02 ~-~-> 00:19:05 |current in the recording, because I had to hurry up and toggle over because I
208 |207 |00:19:05 ~-~-> 00:19:10 |knew as soon as I started to record the trade going into the target, I was going
209 |208 |00:19:10 ~-~-> 00:19:13 |to be met with 100 different comments saying, what did you use to get into
210 |209 |00:19:13 ~-~-> 00:19:16 |that? I thought we're supposed to be trading model 2022 I thought we're
211 |210 |00:19:16 ~-~-> 00:19:20 |supposed to be trading after 10 o'clock. I'm not limiting myself that I taught
212 |211 |00:19:20 ~-~-> 00:19:24 |those models. That doesn't mean I have to stick to those models. I'm teaching
213 |212 |00:19:24 ~-~-> 00:19:29 |that to my students and specifically to my kids. Your job is to find one that
214 |213 |00:19:29 ~-~-> 00:19:32 |matches your personality. Just because I taught one model doesn't mean I'm
215 |214 |00:19:32 ~-~-> 00:19:37 |locking myself into just the only that I'm not a one trick pony. I can do lots
216 |215 |00:19:37 ~-~-> 00:19:43 |of other things, and I do that to show you that there is no limit to
217 |216 |00:19:43 ~-~-> 00:19:48 |formulating and fashioning a model that is going to be uniquely equipped to
218 |217 |00:19:48 ~-~-> 00:19:56 |agree not be in contention or in competition against your personality and
219 |218 |00:19:56 ~-~-> 00:20:01 |many people, they latch on the people as educators and. Teachers or whatnot. And
220 |219 |00:20:01 ~-~-> 00:20:06 |I'm I'm in that same category too, because I may be talking and promoting a
221 |220 |00:20:06 ~-~-> 00:20:11 |specific model at the time when you find me, and then you discovered I've taught
222 |221 |00:20:11 ~-~-> 00:20:14 |other models before, but because whatever model I'm teaching at the time,
223 |222 |00:20:14 ~-~-> 00:20:17 |that's the good one, that's the that's the only one that seems to work. Because
224 |223 |00:20:17 ~-~-> 00:20:22 |if it, if it was good enough for the silver bullet to never need to have
225 |224 |00:20:22 ~-~-> 00:20:25 |another model mentioned after it, then why talk about another model? And that's
226 |225 |00:20:26 ~-~-> 00:20:30 |myopic. It's just focusing on one characteristic of the marketplace, or
227 |226 |00:20:30 ~-~-> 00:20:34 |you can capitalize on a time based model. It's very specific. It's rule
228 |227 |00:20:34 ~-~-> 00:20:39 |based. That means it checks a lot of boxes for brand new students to go in
229 |228 |00:20:39 ~-~-> 00:20:44 |and force some measure of accountability and responsibility. And most models that
230 |229 |00:20:44 ~-~-> 00:20:49 |people are promoting through mentorships or whatever, they don't have rules that
231 |230 |00:20:49 ~-~-> 00:20:53 |hold you accountable, because you're always hunting for a new setup, and you
232 |231 |00:20:53 ~-~-> 00:20:56 |don't really know when that set is going to form. You can't just say, Well,
233 |232 |00:20:56 ~-~-> 00:21:00 |here's the ICT kill zone, and somewhere in these hours there's going to be a
234 |233 |00:21:00 ~-~-> 00:21:05 |setup. Of course, that's going to be a setup, but when we narrow it down to,
235 |234 |00:21:05 ~-~-> 00:21:09 |okay, here's a setup that's going to form between 10 o'clock in the morning
236 |235 |00:21:09 ~-~-> 00:21:12 |and 11 o'clock in the morning. And if it doesn't form, that's your model. If it
237 |236 |00:21:12 ~-~-> 00:21:16 |didn't form, you didn't get a trade, turn the charts off, and then you form,
238 |237 |00:21:16 ~-~-> 00:21:19 |in fact, in fashion, your responsibility, your accountability,
239 |238 |00:21:19 ~-~-> 00:21:26 |goes through the roof, and you build discipline by that. So I'm reminding you
240 |239 |00:21:26 ~-~-> 00:21:30 |that we, we talked about this I did in the Post this morning. So the draw was
241 |240 |00:21:30 ~-~-> 00:21:34 |here, but I said in that recording, you'll see it says current in the purple
242 |241 |00:21:34 ~-~-> 00:21:39 |one. That's this is last week's new week opening gap. And I did this to kind of
243 |242 |00:21:39 ~-~-> 00:21:44 |like, have a lot less things on the chart, because I'm teaching Caleb to
244 |243 |00:21:44 ~-~-> 00:21:49 |focus on clusterings of new week opening gaps, or clusterings of New Day opening
245 |244 |00:21:49 ~-~-> 00:21:59 |gaps. So if we're opening up here at 930 or so, my job as a trader is already
246 |245 |00:21:59 ~-~-> 00:22:04 |done. Like I don't care at that time, because I'm looking for something that's
247 |246 |00:22:04 ~-~-> 00:22:09 |going to be useful before the opening bell. Because it's a Monday, because
248 |247 |00:22:09 ~-~-> 00:22:18 |it's the last, I'm sorry, not the last. It's the Monday without a impression of
249 |248 |00:22:18 ~-~-> 00:22:22 |confusion by the economic counter having a high impact or medium impact news
250 |249 |00:22:22 ~-~-> 00:22:28 |driver at 830 or after 930 opening bell. So there's a there's a void of any kind
251 |250 |00:22:28 ~-~-> 00:22:34 |of intervention or invitation for intervention. Not that it can't be. It
252 |251 |00:22:34 ~-~-> 00:22:38 |just the the probabilities of that occurring with the economic counter
253 |252 |00:22:38 ~-~-> 00:22:45 |being void of anything, it's less likely so they're going to move the market
254 |253 |00:22:45 ~-~-> 00:22:50 |cleanly before everybody else is part of it. That means everybody's sitting
255 |254 |00:22:50 ~-~-> 00:22:57 |around the kumbaya waiting for the 930 opening bell. Everybody else is hurting
256 |255 |00:22:57 ~-~-> 00:23:04 |to that watering hole at 930 but the professionals are going in early. We're
257 |256 |00:23:04 ~-~-> 00:23:08 |going in and we we get ours early because we know that there's going to be
258 |257 |00:23:08 ~-~-> 00:23:14 |a whole lot more predatory price action after 930 why? Because it's a Monday,
259 |258 |00:23:14 ~-~-> 00:23:21 |because there's an absence of impact or high impact news drivers. So trade where
260 |259 |00:23:21 ~-~-> 00:23:26 |the market's more cleaner, where it's more likely to yield to you favorable
261 |260 |00:23:26 ~-~-> 00:23:30 |price delivery versus back and forth price action. And I'll show you exactly
262 |261 |00:23:30 ~-~-> 00:23:33 |what I mean by that in a moment. But notice that we did trade down to the new
263 |262 |00:23:33 ~-~-> 00:23:38 |week opening gap high this current week. That's this one here, and we failed to
264 |263 |00:23:38 ~-~-> 00:23:42 |get down to consequent correction of the current new week opening gap. So if we
265 |264 |00:23:42 ~-~-> 00:23:48 |take this one and this one, take that off, this is what the new week opening
266 |265 |00:23:48 ~-~-> 00:23:52 |gap looks like right now for this current week. So it's rather large,
267 |266 |00:23:53 ~-~-> 00:23:58 |okay, and we did not trade down to consequence of the present, current new
268 |267 |00:23:58 ~-~-> 00:24:02 |week opening gap. And obviously we haven't traded down to the low either.
269 |268 |00:24:02 ~-~-> 00:24:07 |But inside of that, we have last week's new week opening gap. And notice that's
270 |269 |00:24:07 ~-~-> 00:24:12 |in the lower half of the current new week opening gap. When I see stuff like
271 |270 |00:24:12 ~-~-> 00:24:19 |this, okay, it kind of it promotes the idea that it's not enough to expect it
272 |271 |00:24:19 ~-~-> 00:24:23 |to trade down to the new week opening gap high, that's reasonable. That's like
273 |272 |00:24:23 ~-~-> 00:24:31 |a low hanging fruit objective. So Caleb, it's being taught that whatever level is
274 |273 |00:24:31 ~-~-> 00:24:35 |first when you're looking for a short meaning that we have two new week
275 |274 |00:24:35 ~-~-> 00:24:39 |opening gaps here, this could just as well be a new day opening gap
276 |275 |00:24:39 ~-~-> 00:24:45 |clustering, so there's very close overlapping, if you will, gaps. So
277 |276 |00:24:46 ~-~-> 00:24:50 |they're going to be a lot of return back into this area of all these levels, you
278 |277 |00:24:50 ~-~-> 00:24:55 |know, as a whole, but the larger of them, meaning that if we're looking for
279 |278 |00:24:55 ~-~-> 00:25:00 |a short up here, or as he's being trained to do it, he would not. Hold for
280 |279 |00:25:00 ~-~-> 00:25:06 |consequent encouragement of the current new week opening gap. It's not in his
281 |280 |00:25:06 ~-~-> 00:25:12 |it's not in his model. He wouldn't hold for the high of last week's new week
282 |281 |00:25:12 ~-~-> 00:25:16 |opening gap. He wouldn't look for the consequent coaching of of last week's
283 |282 |00:25:16 ~-~-> 00:25:19 |new week opening gap, which will be between these two purple lines. And he
284 |283 |00:25:19 ~-~-> 00:25:26 |would not look for the current new week opening gap low why? Because he's being
285 |284 |00:25:26 ~-~-> 00:25:31 |trained to take the first low hanging fruit objective. That means the first
286 |285 |00:25:31 ~-~-> 00:25:36 |profitable exit using the strategy, the meaning, if you're short, which is the
287 |286 |00:25:36 ~-~-> 00:25:40 |first new week opening gap high level you're going to get to, and as soon as
288 |287 |00:25:40 ~-~-> 00:25:48 |you trade to it, plus a spread of one or two ticks, he gets out. He doesn't hold
289 |288 |00:25:48 ~-~-> 00:25:53 |for the best exit. He doesn't hold for the maximum amount of money. If he's
290 |289 |00:25:53 ~-~-> 00:26:02 |right, see, he's removing the necessity about being perfect with his exits. You
291 |290 |00:26:02 ~-~-> 00:26:09 |when I was struggling in the brand new stages of my career, 1990s my first
292 |291 |00:26:09 ~-~-> 00:26:14 |problem was entries. I was afraid to enter. I was afraid that I'd be wrong. I
293 |292 |00:26:14 ~-~-> 00:26:20 |was afraid I was going to miss trades. Everything compounded into a problem. So
294 |293 |00:26:20 ~-~-> 00:26:28 |I had to desensitize myself to never fearing, never having a problem, without
295 |294 |00:26:28 ~-~-> 00:26:32 |finding a setup to get me into a trade. So I have lots of ways to get into a
296 |295 |00:26:32 ~-~-> 00:26:38 |trade, and eventually it became a problem for me to be content with my
297 |296 |00:26:38 ~-~-> 00:26:43 |profitable exits. So you all have seen me trading. You've seen my executions.
298 |297 |00:26:43 ~-~-> 00:26:47 |You see how I do partials when I do them. You see how I trade my stop loss.
299 |298 |00:26:47 ~-~-> 00:26:52 |You see all these things, okay, and to the lay person, to someone that is been
300 |299 |00:26:52 ~-~-> 00:26:56 |trading for a while, they can appreciate that, that measure of number one,
301 |300 |00:26:56 ~-~-> 00:27:01 |precision trade management. And it looks really, really good, and it is. It took
302 |301 |00:27:01 ~-~-> 00:27:05 |lots of time to get to that, but it wasn't easy getting to that stage. And
303 |302 |00:27:05 ~-~-> 00:27:11 |truth be told, and I've said this many times candidly, I am not happy and I'm
304 |303 |00:27:11 ~-~-> 00:27:16 |not satisfied with my exits. That's still my weak point. I believe there's a
305 |304 |00:27:16 ~-~-> 00:27:22 |whole lot more room in there for me to improve that, and I'm cognizant of the
306 |305 |00:27:22 ~-~-> 00:27:28 |effects of the pursuit of perfection being an illusion. Okay, you're never
307 |306 |00:27:28 ~-~-> 00:27:32 |going to reach that, but as long as I'm alive and I have mental faculties, I'm
308 |307 |00:27:32 ~-~-> 00:27:35 |going to try to pursue it. Okay? It's not going to make it worse. It's just
309 |308 |00:27:35 ~-~-> 00:27:39 |going to make me strive to do better. And the day I stopped striving to do
310 |309 |00:27:39 ~-~-> 00:27:43 |better is, what's the point of being around here? Then, right? Yeah, that I
311 |310 |00:27:43 ~-~-> 00:27:46 |want to. I want to be better than I was yesterday all the time. And I have
312 |311 |00:27:46 ~-~-> 00:27:49 |models that work very, very well,
313 |312 |00:27:50 ~-~-> 00:27:55 |but I'm never going to be satisfied, ever, until I can't do it anymore. So
314 |313 |00:27:56 ~-~-> 00:28:01 |one of the things that I had to overcome was this argument I always held with my
315 |314 |00:28:01 ~-~-> 00:28:06 |within myself, in my journals, and I said to myself that I was not satisfied
316 |315 |00:28:06 ~-~-> 00:28:12 |with that trade exit, because it went, it went 50 handles more or Well, not
317 |316 |00:28:12 ~-~-> 00:28:15 |really so much back then, when I was trading, it didn't move that much. But,
318 |317 |00:28:15 ~-~-> 00:28:19 |you know, it went like five handles beyond where I was trying to take my
319 |318 |00:28:19 ~-~-> 00:28:24 |profit. I wanted to figure out why I was not willing, or why I didn't see that it
320 |319 |00:28:24 ~-~-> 00:28:29 |was going to reach that much further than where I was, and it took a great
321 |320 |00:28:29 ~-~-> 00:28:33 |deal of time to just go back and see that. I would beat myself up in my
322 |321 |00:28:33 ~-~-> 00:28:38 |journal. I would punish myself. I would talk down to myself. I would be very,
323 |322 |00:28:38 ~-~-> 00:28:43 |very critical of myself. And then that critical evaluation I would give myself
324 |323 |00:28:43 ~-~-> 00:28:47 |on a day by day, trade by trade basis, in my journal, it would stick with me in
325 |324 |00:28:47 ~-~-> 00:28:51 |my work day, and I would find myself literally saying the things I said in my
326 |325 |00:28:51 ~-~-> 00:28:55 |journal out loud, in my own voice, saying, Yeah, you really messed that up.
327 |326 |00:28:56 ~-~-> 00:28:59 |You were foolish. You didn't you didn't do this. Correct? You didn't do that.
328 |327 |00:28:59 ~-~-> 00:29:04 |And I never, ever ever spoke positively about myself in the beginning, which is
329 |328 |00:29:04 ~-~-> 00:29:07 |why I teach you not to do those things in your journal, because that was a
330 |329 |00:29:07 ~-~-> 00:29:12 |hindering factor for me. It held me back a lot, and it caused a whole lot of
331 |330 |00:29:12 ~-~-> 00:29:18 |quagmire in this muddy terrain that kind of like sludge through and not get any
332 |331 |00:29:18 ~-~-> 00:29:23 |kind of real traction or gain any new ground in understanding or prowess, it
333 |332 |00:29:23 ~-~-> 00:29:28 |was bogging me down. So one of the things I told myself was, let me go back
334 |333 |00:29:28 ~-~-> 00:29:33 |and see what am I doing consistently when I have exits that are profitable,
335 |334 |00:29:34 ~-~-> 00:29:39 |and I found that I was usually exiting, admittedly at the time through fear that
336 |335 |00:29:39 ~-~-> 00:29:46 |it was going to turn around on me and it has moved enough, so I learned to be
337 |336 |00:29:46 ~-~-> 00:29:51 |content with enough. Remember that slogan, be content with enough. I had to
338 |337 |00:29:51 ~-~-> 00:29:55 |force that perspective on myself by going back and looking at my journals
339 |338 |00:29:55 ~-~-> 00:29:59 |and saying, okay, the traits that I was winning consistently in were.
340 |339 |00:30:00 ~-~-> 00:30:05 |Predominantly, most of them were me closing before my targets. I would have
341 |340 |00:30:05 ~-~-> 00:30:09 |a hard line target. It would be, if it goes to this level here, it'll limit me
342 |341 |00:30:09 ~-~-> 00:30:15 |out at that price level, and because I had scar tissue, doing all the things
343 |342 |00:30:15 ~-~-> 00:30:20 |wrong, being highly critical of myself, because I was over trading, because I
344 |343 |00:30:20 ~-~-> 00:30:23 |was using too much leverage, I didn't have the ability to stay with the trade
345 |344 |00:30:23 ~-~-> 00:30:28 |lawn, because I had all those things compounding with very little experience.
346 |345 |00:30:28 ~-~-> 00:30:34 |I started in 1992 and I was trading way too much with too little money. I was
347 |346 |00:30:34 ~-~-> 00:30:38 |under capitalized. I did not have experience. I did not know what I was
348 |347 |00:30:38 ~-~-> 00:30:43 |doing, and I was like a cowboy out there, just gun slinging. And when I was
349 |348 |00:30:43 ~-~-> 00:30:49 |right, I felt like I owned the world. And any setback was disastrous. It was
350 |349 |00:30:49 ~-~-> 00:30:54 |absolutely disastrous, because I made sure I punished myself way beyond what
351 |350 |00:30:54 ~-~-> 00:31:00 |we reasonable. So one of the corrections I made in myself was going back. This is
352 |351 |00:31:00 ~-~-> 00:31:04 |why, if you don't, if you don't journal, you don't have this resource to tap
353 |352 |00:31:04 ~-~-> 00:31:08 |into. You're not going to remember every detail that every trade you did. I can't
354 |353 |00:31:08 ~-~-> 00:31:13 |remember every detail, but I can take myself into a journal, and I can show
355 |354 |00:31:13 ~-~-> 00:31:18 |everything that was pertinent at the time, and the open, high, low and close,
356 |355 |00:31:18 ~-~-> 00:31:21 |and the highest, high in the first hour, the second hour, the third hour, and the
357 |356 |00:31:21 ~-~-> 00:31:25 |same thing at the last half of the trading day. I have all those details.
358 |357 |00:31:25 ~-~-> 00:31:29 |And if I was watching price at the time, what I was thinking and how I was
359 |358 |00:31:29 ~-~-> 00:31:34 |feeling, and if I engaged at all, you don't have that. You don't have that for
360 |359 |00:31:34 ~-~-> 00:31:40 |30 years, but I do. So I know myself better than anybody ever will. No one's
361 |360 |00:31:40 ~-~-> 00:31:46 |going to know me better than I do. I have a clinical history of documenting
362 |361 |00:31:46 ~-~-> 00:31:51 |how I felt, how I thought, how I overreacted, how I ignored, foolishly,
363 |362 |00:31:51 ~-~-> 00:31:54 |certain things that should have been brought to my attention in the forefront
364 |363 |00:31:54 ~-~-> 00:31:59 |of my mind about what I should be focusing on, predominantly and less on
365 |364 |00:31:59 ~-~-> 00:32:04 |money, because the money aspect, that was what I was pursuing, because I
366 |365 |00:32:04 ~-~-> 00:32:08 |needed that to change my status. Because if I could change that status, I would
367 |366 |00:32:08 ~-~-> 00:32:13 |win my ex wife back, because I was a young, broken hearted man. So I was not
368 |367 |00:32:13 ~-~-> 00:32:18 |trading for the right reasons. I was trading for a revenge plot. Okay, so I
369 |368 |00:32:20 ~-~-> 00:32:22 |look back at my journal and I said, Well, here's the things that I have
370 |369 |00:32:22 ~-~-> 00:32:30 |noticed that I'm doing, I'm exiting early. All my trades were exiting early,
371 |370 |00:32:31 ~-~-> 00:32:37 |and 90% of them were impulsively exiting, meaning that some kind of
372 |371 |00:32:37 ~-~-> 00:32:44 |mental threshold was being tapped into where I could not I could not muster the
373 |372 |00:32:44 ~-~-> 00:32:50 |strength, the courage, the fortitude, the willingness to hold on to the trade
374 |373 |00:32:50 ~-~-> 00:32:56 |any further. But nothing had underlyingly changed about the trade. So
375 |374 |00:32:56 ~-~-> 00:33:01 |what was manifesting my physical inability to hold on to the trade,
376 |375 |00:33:01 ~-~-> 00:33:07 |because my mental capital, my mental capital, rather, had been exhausted. I'm
377 |376 |00:33:07 ~-~-> 00:33:11 |in a trade and it's profitable, all I have to do is hold on to it. And the
378 |377 |00:33:11 ~-~-> 00:33:16 |trades, many times, would have hit the target, but because of losing trades,
379 |378 |00:33:16 ~-~-> 00:33:19 |because of being stopped out, because I've missed trades, or because this is
380 |379 |00:33:19 ~-~-> 00:33:25 |the big one, because I was over leveraged. I had too much on based on
381 |380 |00:33:25 ~-~-> 00:33:30 |the amount of money I had in the account. So every tiny fluctuation,
382 |381 |00:33:31 ~-~-> 00:33:36 |whether it was moving in my favor or moving against me, it was enormous
383 |382 |00:33:36 ~-~-> 00:33:43 |pressure. It was enormous pressure. Any ticks that moved in my favor was like a
384 |383 |00:33:43 ~-~-> 00:33:49 |euphoric wave of Yes, yes, yes. Release relief. Keep going, keep going. And if
385 |384 |00:33:49 ~-~-> 00:33:53 |it moved two ticks, I would say, Okay, give me five more ticks. And then if it
386 |385 |00:33:53 ~-~-> 00:33:56 |moved one more tick, it's okay, Give me. Give me three more ticks. Give me three
387 |386 |00:33:56 ~-~-> 00:33:59 |more ticks. And then one tick would come back, which is normal delivery, then
388 |387 |00:33:59 ~-~-> 00:34:03 |another two ticks down. And I'm freaking out. I'm like, oh, it's reversing. It's
389 |388 |00:34:03 ~-~-> 00:34:08 |reversing. It's everything I talk about in the long parts of the lecture, which,
390 |389 |00:34:08 ~-~-> 00:34:12 |by the way, this, this is that kind of lecture. So you want to learn how to
391 |390 |00:34:12 ~-~-> 00:34:15 |make money, you learn how to hold on to a trade, how to work yourself through
392 |391 |00:34:16 ~-~-> 00:34:19 |these hard things that real trading takes you through. These are the lessons
393 |392 |00:34:19 ~-~-> 00:34:22 |and lectures you want to listen to. Listen to. It's not the buy the sell.
394 |393 |00:34:23 ~-~-> 00:34:26 |Here's the candlestick formation, here's the order block. None of that stuff is
395 |394 |00:34:26 ~-~-> 00:34:29 |important compared to this stuff, because this is what fixes you or keeps
396 |395 |00:34:29 ~-~-> 00:34:34 |you on the straight and narrow. And I'm telling you, what changed in my trading
397 |396 |00:34:35 ~-~-> 00:34:41 |was how I think about money, how I think about the fear of holding on to the
398 |397 |00:34:41 ~-~-> 00:34:47 |outcome. So if you don't over leverage, and if you don't over trade, and you're
399 |398 |00:34:47 ~-~-> 00:34:50 |being disciplined about what is your executing on, there has to be a rule,
400 |399 |00:34:50 ~-~-> 00:34:54 |there has to be a model, and there has to be some measure of a threshold that
401 |400 |00:34:54 ~-~-> 00:34:59 |you're aiming for that is a low hanging fruit objective. So what I did was I
402 |401 |00:34:59 ~-~-> 00:35:04 |went. I started seeing things in my exits when I would impulsively close the
403 |402 |00:35:04 ~-~-> 00:35:11 |trades and not let them go to Target. 90% of the time they were hitting one or
404 |403 |00:35:11 ~-~-> 00:35:17 |two PD arrays that were in favor of me, but before my actual target or Terminus.
405 |404 |00:35:18 ~-~-> 00:35:21 |So I elected to come up with the idea, of, okay, well, this is like a this is
406 |405 |00:35:21 ~-~-> 00:35:25 |like, low hanging fruit. It's easy. I can do these trades, and if I stick to
407 |406 |00:35:25 ~-~-> 00:35:30 |doing that, then that could be my model until I get better at doing this.
408 |407 |00:35:30 ~-~-> 00:35:34 |Because I had a lot of problems I had to fix within my thinking and a lot of scar
409 |408 |00:35:34 ~-~-> 00:35:39 |tissue. I had lost a lot of money. I was in debt. I was trying to figure out how
410 |409 |00:35:39 ~-~-> 00:35:44 |I was going to clear all that up and still win the the heart of my ex wife
411 |410 |00:35:44 ~-~-> 00:35:49 |back. Okay, so that never happened, by the way, but the idea of looking for low
412 |411 |00:35:49 ~-~-> 00:35:55 |hanging fruit, this easy objective, aim for that, because you're going to have a
413 |412 |00:35:55 ~-~-> 00:36:02 |higher strike rate if you can pick the easiest objective to trade to. And it
414 |413 |00:36:02 ~-~-> 00:36:05 |doesn't matter what ICT shows in his trading execution. It doesn't matter
415 |414 |00:36:05 ~-~-> 00:36:08 |what any of my other students do. It doesn't matter what your favorite fruit
416 |415 |00:36:08 ~-~-> 00:36:12 |room, you know, live streamers doing. It doesn't matter how much they got in
417 |416 |00:36:12 ~-~-> 00:36:17 |their payouts. None of that has anything to do with you. That's not a direct
418 |417 |00:36:17 ~-~-> 00:36:21 |relationship or correlation, rather, to you being a good trader or not being a
419 |418 |00:36:21 ~-~-> 00:36:27 |good trader based on what other people do, but in this climate right now,
420 |419 |00:36:27 ~-~-> 00:36:32 |because social media is so you know what it is, it's meant to be divisive. That's
421 |420 |00:36:32 ~-~-> 00:36:37 |why it's been introduced to us. It's not to help one another. It's to be divisive
422 |421 |00:36:38 ~-~-> 00:36:44 |and to communicate that at never ending divisiveness, and I'm trying to use
423 |422 |00:36:44 ~-~-> 00:36:49 |social media to remind you that you don't have to keep up with everybody
424 |423 |00:36:49 ~-~-> 00:36:54 |else, like you don't have to do those things, but social media tends to make
425 |424 |00:36:54 ~-~-> 00:36:58 |you feel like you you should or you're not progressing, when real progress is
426 |425 |00:36:58 ~-~-> 00:37:03 |for you to say, what's the easiest thing I can do today and make money and not
427 |426 |00:37:03 ~-~-> 00:37:07 |really work that hard for it? Now think about that sounds real lazy, doesn't it?
428 |427 |00:37:08 ~-~-> 00:37:13 |That sounds like, wow, you're an underachiever. But you know what? That's
429 |428 |00:37:13 ~-~-> 00:37:17 |exactly what every new student should think like. Because you don't have the
430 |429 |00:37:17 ~-~-> 00:37:20 |skill set to be an overachiever, but you try to be an overachiever. What do you
431 |430 |00:37:20 ~-~-> 00:37:24 |do? You trade more and you trade with more leverage than you should, and you
432 |431 |00:37:24 ~-~-> 00:37:28 |try to do more money in profit with an under capitalized account. And you
433 |432 |00:37:28 ~-~-> 00:37:32 |wonder why you feel like you can't do it, and you wonder why it's stressful,
434 |433 |00:37:33 ~-~-> 00:37:36 |because you're trying to do something that's next to impossible with those
435 |434 |00:37:36 ~-~-> 00:37:41 |conditions. And that's why I kept blowing out in the beginning, 1992 1993
436 |435 |00:37:42 ~-~-> 00:37:46 |mm, started see some progress. 94 I pushed it too hard. Thought I figured it
437 |436 |00:37:46 ~-~-> 00:37:51 |all out. Hurt. Hurt there a little bit too. And then in 1995 I was like a it
438 |437 |00:37:51 ~-~-> 00:37:56 |was like a swing year for me. The first half of the year, I was hurt a little
439 |438 |00:37:56 ~-~-> 00:38:00 |bit, then I came back strong. And then in the quarter, like the third quarter,
440 |439 |00:38:00 ~-~-> 00:38:04 |I was introduced to a lot of the stuff that I mentioned many times with Larry
441 |440 |00:38:04 ~-~-> 00:38:09 |Williams, is confidential training course, VHS stuff. That's what I needed.
442 |441 |00:38:09 ~-~-> 00:38:13 |I need someone to tell me what I should be focusing on and not focus on the
443 |442 |00:38:13 ~-~-> 00:38:18 |money. And that lesson hit hard because that's what I was focusing on. I was
444 |443 |00:38:18 ~-~-> 00:38:24 |focused on money, and I was fearful of the losses, and I was too hopeful and
445 |444 |00:38:24 ~-~-> 00:38:28 |too expectant of having the big windfall victories. I thought that every trade
446 |445 |00:38:28 ~-~-> 00:38:32 |was going to be a windfall victory, and if it didn't, then I'm a failure. And it
447 |446 |00:38:32 ~-~-> 00:38:36 |doesn't equate to that, and you shouldn't frame your whole basis as a
448 |447 |00:38:36 ~-~-> 00:38:44 |trader with that very limiting and strangling mindset. So why does Caleb
449 |448 |00:38:45 ~-~-> 00:38:49 |want to aim for when he's short, whatever level is high, because that's
450 |449 |00:38:49 ~-~-> 00:38:53 |the easiest objective to reach. Reach to because if there's a cluster of two, new
451 |450 |00:38:53 ~-~-> 00:38:57 |week opening gaps, and again, this is applicable to New Day opening gaps too.
452 |451 |00:38:59 ~-~-> 00:39:02 |How do you how do you determine which one you're going to trade. Michael,
453 |452 |00:39:02 ~-~-> 00:39:05 |what's what? What is he going to reach for? Well, obviously you're always going
454 |453 |00:39:05 ~-~-> 00:39:11 |to look for the current New Day opening gap, see where that falls in, in where
455 |454 |00:39:11 ~-~-> 00:39:15 |price action is trading, and where it could gravitate to. If you're using a
456 |455 |00:39:15 ~-~-> 00:39:18 |new week opening gaps, then you're going to obviously look for where's this
457 |456 |00:39:18 ~-~-> 00:39:28 |current new week opening gap. And is it in close proximity in the last five new
458 |457 |00:39:28 ~-~-> 00:39:32 |day opening gaps, or five new week opening gaps, and if there's an overlap
459 |458 |00:39:32 ~-~-> 00:39:36 |of any any two is all you need, just two of them. And if there's more than that,
460 |459 |00:39:36 ~-~-> 00:39:41 |it just means it's going to be a larger degree of probability that it's going to
461 |460 |00:39:41 ~-~-> 00:39:46 |shift and reprice to that level. Because whether it's been treated and filled in
462 |461 |00:39:46 ~-~-> 00:39:51 |or not as a gap, it matters not but if the gaps are open and they're unfilled,
463 |462 |00:39:51 ~-~-> 00:39:55 |like we have here, these two are wonderful. It's going to create, like
464 |463 |00:39:55 ~-~-> 00:40:01 |this black hole effect. You know, it's not, it's not even. Horizon, which is a
465 |464 |00:40:01 ~-~-> 00:40:06 |PD array, but it has the effect of event horizon, but on steroids, because it's
466 |465 |00:40:06 ~-~-> 00:40:10 |going to want to go back down into these areas and revisit them, because they're
467 |466 |00:40:10 ~-~-> 00:40:14 |natural value areas there. There's an absence of buying and selling at all in
468 |467 |00:40:14 ~-~-> 00:40:21 |these areas, hence their gap. So because we have an absence of that economic news
469 |468 |00:40:21 ~-~-> 00:40:26 |driver impact, no medium or high impact news drivers at all on Monday. And it is
470 |469 |00:40:26 ~-~-> 00:40:31 |a Monday, but it's not a Non Farm Payroll, Friday, Monday. So what do we
471 |470 |00:40:31 ~-~-> 00:40:38 |do? We trade the pre market session, and we use the draw on liquidity based on
472 |471 |00:40:38 ~-~-> 00:40:47 |what I'm showing you here. So K Caleb would never reach for an objective
473 |472 |00:40:48 ~-~-> 00:40:55 |beyond this one here. Okay, you understand that, hopefully by now,
474 |473 |00:40:55 ~-~-> 00:40:59 |because it's the if you're above the price action or above the draw on
475 |474 |00:40:59 ~-~-> 00:41:02 |liquid, in this case, this one count these two new week opening gaps, as I
476 |475 |00:41:02 ~-~-> 00:41:08 |indicated in my tweet this morning, my direction, my bias, Caleb's bias, would
477 |476 |00:41:08 ~-~-> 00:41:16 |be to expect price to draw down today into this area here the high, the
478 |477 |00:41:16 ~-~-> 00:41:20 |midpoint and the low of this current new week opening gap. And the new week
479 |478 |00:41:20 ~-~-> 00:41:26 |opening gap is where we settled last Friday and we opened on Sunday at 6pm
480 |479 |00:41:26 ~-~-> 00:41:35 |that's what these levels are. Here, okay, and the purple ones just go back
481 |480 |00:41:35 ~-~-> 00:41:45 |one more week prior. So because these gaps are very often used to be repriced
482 |481 |00:41:45 ~-~-> 00:41:49 |to it matters not what school of thought you have. You know, if you use all the
483 |482 |00:41:49 ~-~-> 00:41:54 |other different retail ideas, if you start implementing this as a means of
484 |483 |00:41:54 ~-~-> 00:42:00 |looking for the as a bias or a session bias, okay, you're going to have a
485 |484 |00:42:00 ~-~-> 00:42:04 |higher degree of probability stacked in your favor, because this is what the
486 |485 |00:42:04 ~-~-> 00:42:11 |market does. Okay? I mean, it's a real, plain, simple, generic trait to this.
487 |486 |00:42:11 ~-~-> 00:42:15 |This. This is what generally will happen every single day, every single week.
488 |487 |00:42:15 ~-~-> 00:42:18 |These are the things that happen. This is why I know I'm going to find a setup.
489 |488 |00:42:18 ~-~-> 00:42:23 |This is how I know I'm going to be able to find setups in perpetuity, and the
490 |489 |00:42:23 ~-~-> 00:42:27 |same thing, you'll feel that same confidence too, when you understand that
491 |490 |00:42:27 ~-~-> 00:42:32 |these things tend to repeat a lot. And you don't need to go into half of the
492 |491 |00:42:32 ~-~-> 00:42:38 |gap, the lower half of the gap, the upper quadrant, the lower quadrant, and
493 |492 |00:42:38 ~-~-> 00:42:42 |you don't have to go into the other previous week's new week, opening up to
494 |493 |00:42:42 ~-~-> 00:42:48 |find profit. Now think about the logic with that, versus what you're trying to
495 |494 |00:42:48 ~-~-> 00:42:51 |do, probably right now, or what you've been doing probably for months, or
496 |495 |00:42:51 ~-~-> 00:42:55 |failed at keeping a funded account, or never getting a funded account in your
497 |496 |00:42:55 ~-~-> 00:42:59 |prop firm, trading or blowing live accounts, or going into severe drawdown,
498 |497 |00:43:00 ~-~-> 00:43:04 |because many times you're probably reaching for things that are so beyond
499 |498 |00:43:04 ~-~-> 00:43:09 |the scope of your present skill set. And it doesn't matter how many years you've
500 |499 |00:43:09 ~-~-> 00:43:16 |been trying to trade, you still have a very small capability because you
501 |500 |00:43:16 ~-~-> 00:43:20 |haven't found consistency yet that the length of time doing it is not a direct
502 |501 |00:43:20 ~-~-> 00:43:23 |correlation to how good you should be, because you can waste a lot of time
503 |502 |00:43:24 ~-~-> 00:43:29 |doing all the wrong things and lie to yourself saying, but I do study, but I
504 |503 |00:43:29 ~-~-> 00:43:35 |do take notes, but because I I do back test, what you do with your time, how
505 |504 |00:43:35 ~-~-> 00:43:40 |you condition yourself mentally while Doing those things. That's going to have
506 |505 |00:43:40 ~-~-> 00:43:48 |a direct result or impact on the outcome of what it is you're forming as a model.
507 |506 |00:43:49 ~-~-> 00:43:53 |And if you don't put the work into identifying those things and being
508 |507 |00:43:53 ~-~-> 00:43:58 |critical about the importance of them, you'll try to hold on to a trade. And
509 |508 |00:43:58 ~-~-> 00:44:01 |I'm sure you probably have had this happen before. You're going to trade,
510 |509 |00:44:01 ~-~-> 00:44:05 |and you're looking for an objective that probably pays out over $1,000 or more.
511 |510 |00:44:05 ~-~-> 00:44:09 |And if you're doing multiple contracts, it's you're doing the math on this is
512 |511 |00:44:09 ~-~-> 00:44:15 |going to be great. I'm going to have a $20,000 winning day. Or this will put me
513 |512 |00:44:15 ~-~-> 00:44:18 |to a point where I can ask for a five figure, you know, payout, or get a
514 |513 |00:44:18 ~-~-> 00:44:23 |withdrawal from the actual broker. And then you start feeling that, what if it
515 |514 |00:44:23 ~-~-> 00:44:28 |doesn't get there, and what happens if it never really gets to my target? And
516 |515 |00:44:28 ~-~-> 00:44:31 |now you're worried about never getting to your target, versus sticking to the
517 |516 |00:44:31 ~-~-> 00:44:35 |model that says you just should hold it for your target. Isn't that funny how
518 |517 |00:44:35 ~-~-> 00:44:39 |that works. You start thinking about the very thing that you don't want to see
519 |518 |00:44:39 ~-~-> 00:44:43 |happen. Instead of saying, Am I seeing everything that still indicates this is
520 |519 |00:44:43 ~-~-> 00:44:47 |the likelihood that I started to trade on. The premise was it should trade to
521 |520 |00:44:47 ~-~-> 00:44:51 |my target. Are you looking for signatures and validation behind that
522 |521 |00:44:51 ~-~-> 00:44:55 |technical aspect that you entered on? Are those still being seen in that
523 |522 |00:44:55 ~-~-> 00:44:59 |chart? Is price still indicating those things are true? As long as that.
524 |523 |00:45:00 ~-~-> 00:45:08 |Happen, or as long as that doesn't fail, or it no longer is in price action,
525 |524 |00:45:08 ~-~-> 00:45:12 |supporting your idea you shouldn't be thinking about your trade failing,
526 |525 |00:45:13 ~-~-> 00:45:16 |because what you're doing is you're teaching yourself to have negative
527 |526 |00:45:17 ~-~-> 00:45:22 |concern while the trades underway, and you wonder why you're fearful, and you
528 |527 |00:45:22 ~-~-> 00:45:26 |wonder why you're afraid of losing because you're constantly reflecting
529 |528 |00:45:26 ~-~-> 00:45:30 |inside and maybe outwardly that, man, I know this is going to turn around. How
530 |529 |00:45:30 ~-~-> 00:45:33 |many times have you said that? Oh, man, I better get out. But you're not getting
531 |530 |00:45:33 ~-~-> 00:45:36 |out. Man, I know if I, if I gather this trade, I know it's going to do this or
532 |531 |00:45:36 ~-~-> 00:45:41 |do that. The fact that you're even doing those things, you're not in control of
533 |532 |00:45:41 ~-~-> 00:45:47 |yourself. You're not in control. You're not You're not driving anymore. Your
534 |533 |00:45:47 ~-~-> 00:45:52 |emotions are driving. And the first tree that you come to, that's what you're
535 |534 |00:45:52 ~-~-> 00:45:57 |going to run into, that means you're going to impulsively do something, or
536 |535 |00:45:57 ~-~-> 00:46:02 |you're going to get reckless. And then what that does, it becomes a shift in
537 |536 |00:46:02 ~-~-> 00:46:08 |your mindset, where it becomes gamblers numbness, if you constantly talk to
538 |537 |00:46:08 ~-~-> 00:46:11 |yourself out loud or internally, but worse, outside of you know, with your
539 |538 |00:46:11 ~-~-> 00:46:15 |tongue saying it. I know this is going to turn on me. I know this isn't going
540 |539 |00:46:15 ~-~-> 00:46:18 |to hit my target. I know I should just get out right now, but you're saying f
541 |540 |00:46:18 ~-~-> 00:46:22 |it, I'm just going to hold on to it. But you're really killing yourself like
542 |541 |00:46:22 ~-~-> 00:46:24 |you're you're beating yourself up, dragging yourself across the coals,
543 |542 |00:46:24 ~-~-> 00:46:28 |telling yourself you're not going to get out, but inside your wrestling, just get
544 |543 |00:46:28 ~-~-> 00:46:34 |out. Just get out. But you think it's weakness if you get out, and you start
545 |544 |00:46:34 ~-~-> 00:46:37 |this whole wrestling match with different perspectives, and you're
546 |545 |00:46:37 ~-~-> 00:46:42 |arguing with with multiple versions of yourself, and then when it gets so bad,
547 |546 |00:46:42 ~-~-> 00:46:46 |you'll start saying it out loud, like you're talking to yourself as a separate
548 |547 |00:46:46 ~-~-> 00:46:52 |person. The entire time. You're not watching price, you're just wrestling
549 |548 |00:46:52 ~-~-> 00:46:57 |and arguing with yourself about staying with the trade or getting out of it. To
550 |549 |00:46:57 ~-~-> 00:47:02 |avoid that for Caleb, and to avoid the things that were happening like that.
551 |550 |00:47:02 ~-~-> 00:47:07 |For me when I was younger, into my 20 years old, initial soiree into trading,
552 |551 |00:47:08 ~-~-> 00:47:12 |I had a lot of that stuff, like I had full conversations with myself. Why
553 |552 |00:47:12 ~-~-> 00:47:15 |aren't you taking this trades exit right here? Why aren't you doing that? Well,
554 |553 |00:47:15 ~-~-> 00:47:17 |here's the reasons why. What are you doing?
555 |554 |00:47:18 ~-~-> 00:47:22 |You're literally distracting yourself from the the task at hand, which is
556 |555 |00:47:22 ~-~-> 00:47:26 |stick to the model. Is the model still active? Is it still valid? That's what
557 |556 |00:47:26 ~-~-> 00:47:30 |you're supposed to be focusing on. And you do positive self talk. You remind
558 |557 |00:47:30 ~-~-> 00:47:33 |yourself when the trade is panning out in your favor, these are the things that
559 |558 |00:47:33 ~-~-> 00:47:37 |are going positive for the trade. You're not lying to yourself. If it's not
560 |559 |00:47:37 ~-~-> 00:47:40 |there, you're not going to you're not going to say it, right? But it is
561 |560 |00:47:40 ~-~-> 00:47:44 |something you constantly have to refer to, and then if it does turn around,
562 |561 |00:47:44 ~-~-> 00:47:49 |stop you out. Okay, that was a cost of business. It doesn't mean it's the end
563 |562 |00:47:49 ~-~-> 00:47:51 |of your career. Doesn't mean your model's broken. Doesn't mean it doesn't
564 |563 |00:47:51 ~-~-> 00:47:55 |have the ability to find another winning trade in the future. Does it mean that
565 |564 |00:47:55 ~-~-> 00:47:58 |you're bad? It just means that that transaction said This is enough for
566 |565 |00:47:58 ~-~-> 00:48:02 |right now. Come back another day or come back on another opportunity. That's all
567 |566 |00:48:02 ~-~-> 00:48:08 |it means. It just means respawn on another setup, and there it is. It
568 |567 |00:48:08 ~-~-> 00:48:12 |doesn't mean get right back in either. It doesn't mean go back in with more
569 |568 |00:48:12 ~-~-> 00:48:18 |contracts. It just means that it was enough for right now and you missed a
570 |569 |00:48:18 ~-~-> 00:48:21 |better opportunity to exit. But you'll get better at doing that over time.
571 |570 |00:48:21 ~-~-> 00:48:25 |That's how you should take a loss. That's how you should tell yourself,
572 |571 |00:48:25 ~-~-> 00:48:29 |that's what I just that's what I just experienced. And that's not a toxic
573 |572 |00:48:29 ~-~-> 00:48:38 |thing. That's not a bad thing. But if you start this whole process with, okay,
574 |573 |00:48:39 ~-~-> 00:48:48 |I'm trying to make money, but I'm real. I'm a practical person. I know that my
575 |574 |00:48:48 ~-~-> 00:48:51 |skill set, because I just started studying these things from ICTs YouTube
576 |575 |00:48:51 ~-~-> 00:48:56 |channel, I don't have the real skill to implement the things that I see him
577 |576 |00:48:56 ~-~-> 00:49:01 |doing and his other students, because I'm just starting. So how can I go about
578 |577 |00:49:01 ~-~-> 00:49:06 |framing a very easy, low hanging fruit objective? So that way I don't have to
579 |578 |00:49:06 ~-~-> 00:49:09 |work so hard, I don't have to build these unrealistic expectations about
580 |579 |00:49:09 ~-~-> 00:49:15 |what I should be able to accomplish in my trades too soon. So that way I am
581 |580 |00:49:15 ~-~-> 00:49:20 |always on this positive continuum of progress, and I always feel like I'm
582 |581 |00:49:20 ~-~-> 00:49:27 |getting better and not stagnating or going backwards. Every day is an
583 |582 |00:49:27 ~-~-> 00:49:30 |opportunity for you to improve upon yourself from where you were the day
584 |583 |00:49:30 ~-~-> 00:49:36 |before, but you are making it impossible if you're not being real, if you're if
585 |584 |00:49:36 ~-~-> 00:49:40 |you're out there thinking you're going to get $1,000 per contract every single
586 |585 |00:49:40 ~-~-> 00:49:45 |time you get into a trade, and you just recently started, your expectations too
587 |586 |00:49:45 ~-~-> 00:49:50 |high, and I mean that even if I was trading in front of you and told you
588 |587 |00:49:50 ~-~-> 00:49:53 |what my entries were and I was consistently delivering, that you would
589 |588 |00:49:53 ~-~-> 00:49:57 |still mess it up because of your inability to trust what it is that
590 |589 |00:49:57 ~-~-> 00:50:01 |you're doing, and you're going to feel this emotion. Stimuli rise up in you,
591 |590 |00:50:02 ~-~-> 00:50:06 |and you'll start feeling afraid when you're making money, and then you'll be
592 |591 |00:50:06 ~-~-> 00:50:09 |distracted, and you'll start going to this loop of, what should I do? Should I
593 |592 |00:50:09 ~-~-> 00:50:12 |do this? Should I do that? And you're not doing what you're supposed to be
594 |593 |00:50:12 ~-~-> 00:50:15 |doing as a trader, which is following price action, following the model,
595 |594 |00:50:15 ~-~-> 00:50:19 |indicating that, is it valid still, or is it not valid? That's trade
596 |595 |00:50:19 ~-~-> 00:50:26 |management. But the reality is, everybody's, course, everybody's book,
597 |596 |00:50:27 ~-~-> 00:50:34 |everybody's live stream, everything that you get involved with is always about
598 |597 |00:50:34 ~-~-> 00:50:40 |getting into a trade. That's what it's all about. The action of getting into a
599 |598 |00:50:40 ~-~-> 00:50:47 |trade. Nobody has a deficiency in finding a reason to get into the market.
600 |599 |00:50:47 ~-~-> 00:50:51 |Okay, everybody has a reason to get into it. You can just stump your toe and say,
601 |600 |00:50:51 ~-~-> 00:50:54 |Oh, well, you know, last time I did that, I made money. Let me just go out
602 |601 |00:50:54 ~-~-> 00:50:56 |here and just try to buy something today, because I feel like I gotta
603 |602 |00:50:56 ~-~-> 00:51:00 |replace this bad feeling of pain. That's an instigation for you to go out and do
604 |603 |00:51:00 ~-~-> 00:51:06 |it. So nobody needs any help in that, in that area. But what I have noticed, and
605 |604 |00:51:06 ~-~-> 00:51:14 |what I had to fortify in my own trading were reasons to justify why Enough is
606 |605 |00:51:14 ~-~-> 00:51:19 |enough. If you think that your trade should yield you $1,000 what's wrong
607 |606 |00:51:19 ~-~-> 00:51:28 |with making $250 it's $250 you didn't have before, and in your early infancy
608 |607 |00:51:28 ~-~-> 00:51:32 |as a trader, that's developing as an analyst, as a technician, learning how
609 |608 |00:51:32 ~-~-> 00:51:35 |to do these things and read price. You don't know if that trade's going to
610 |609 |00:51:35 ~-~-> 00:51:40 |yield to $1,000 for you. You don't know that. You don't know the things that are
611 |610 |00:51:41 ~-~-> 00:51:50 |positive for that outcome to be expected in the same token you don't recognize or
612 |611 |00:51:50 ~-~-> 00:51:54 |know what the things are going to be that say, No, it's not going to go there
613 |612 |00:51:54 ~-~-> 00:51:58 |while you're in the trade. So in the beginning, it's real important for Caleb
614 |613 |00:51:58 ~-~-> 00:52:03 |and anyone else that's brand new to say, Okay, I need to have a very small, low
615 |614 |00:52:03 ~-~-> 00:52:08 |threshold objective. Okay, I suggest, I suggest this many times in Twitter
616 |615 |00:52:08 ~-~-> 00:52:15 |spaces, other lectures or whatnot. And I did a lot of that last year. And one of
617 |616 |00:52:15 ~-~-> 00:52:20 |the youtubers that has went out there and very transparently done it used the
618 |617 |00:52:20 ~-~-> 00:52:25 |idea of just taking 10 handles in the NASDAQ, taking 10 handles and making his
619 |618 |00:52:25 ~-~-> 00:52:31 |entire model that and get out. And he took over $300,000 out of the prof
620 |619 |00:52:31 ~-~-> 00:52:37 |companies, Matt Miller, or you may know him as trades by Matt. So he did this
621 |620 |00:52:37 ~-~-> 00:52:41 |like he did it. Okay? It's you can say whatever you want to say about him. You
622 |621 |00:52:41 ~-~-> 00:52:44 |know, I don't I don't have anything I could say bad about him. I think he's he
623 |622 |00:52:44 ~-~-> 00:52:49 |runs a good community. I think what he does is everybody should act. He stays
624 |623 |00:52:49 ~-~-> 00:52:53 |in his lane, doesn't bother anybody else, and just does it. And doesn't
625 |624 |00:52:53 ~-~-> 00:52:57 |always make money, but he's the only one I saw take $300,000 out of the pro firm,
626 |625 |00:52:57 ~-~-> 00:53:02 |except for my student that just smashed it with almost $2 million he I don't
627 |626 |00:53:02 ~-~-> 00:53:05 |think he'll call himself my stupid book. That's another discussion for the other
628 |627 |00:53:06 ~-~-> 00:53:12 |day. But the idea is that you have to have some kind of early exit strategy
629 |628 |00:53:13 ~-~-> 00:53:19 |that you can live with, but you're going to hit 90 plus percent of the time. Now
630 |629 |00:53:19 ~-~-> 00:53:23 |that doesn't mean you have a 90% strike rate and you don't lose, but just 10% of
631 |630 |00:53:23 ~-~-> 00:53:28 |time, it just means 90% of the trades that you enter you're going to execute
632 |631 |00:53:28 ~-~-> 00:53:33 |on this basis, meaning that you can see the trade going further. And you're
633 |632 |00:53:33 ~-~-> 00:53:37 |going to wrestle with this in the beginning. It's going to feel like, why
634 |633 |00:53:37 ~-~-> 00:53:43 |do this? I'm going to tell you why do this. You have to have the comfort of
635 |634 |00:53:43 ~-~-> 00:53:52 |knowing that what you're doing repeats a lot, $20,000 payouts every single week.
636 |635 |00:53:53 ~-~-> 00:53:56 |I don't care how good you are when you're when you're first finding your
637 |636 |00:53:56 ~-~-> 00:54:01 |rhythm in this you might find your first $20,000 payout or profit withdrawal, but
638 |637 |00:54:03 ~-~-> 00:54:07 |you're not going to be able to do that every single week, not right away. You
639 |638 |00:54:07 ~-~-> 00:54:10 |won't, and then you're going to be rushing to try to duplicate that or
640 |639 |00:54:10 ~-~-> 00:54:15 |double it. What happens if I do five times that? Then I got a six figure
641 |640 |00:54:15 ~-~-> 00:54:19 |payout or a six figure withdrawal, and I can be part of the $100,000 club.
642 |641 |00:54:20 ~-~-> 00:54:23 |Everybody will find respect in me in that regard. If I do that, what are you
643 |642 |00:54:23 ~-~-> 00:54:26 |doing? You're not trading for money. You're not running a business. You're
644 |643 |00:54:26 ~-~-> 00:54:33 |trying to get clout. You can make all the money in the world, all the money in
645 |644 |00:54:33 ~-~-> 00:54:38 |the world that you'd ever need and want. If you take yourself away from those
646 |645 |00:54:38 ~-~-> 00:54:42 |things initially, that doesn't mean you can't come back to it later on, when you
647 |646 |00:54:42 ~-~-> 00:54:46 |learn how to do these things consistently. But if everything you're
648 |647 |00:54:46 ~-~-> 00:54:50 |trying to do is an image based marketing thing, doesn't it make sense for you to
649 |648 |00:54:50 ~-~-> 00:54:56 |be consistent? Doesn't it mean that you should have some kind of track record
650 |649 |00:54:56 ~-~-> 00:54:59 |where you can show that what you're doing that you're going to try to
651 |650 |00:54:59 ~-~-> 00:55:03 |garner? Attention from whether it be signals or live stream or whatever it
652 |651 |00:55:03 ~-~-> 00:55:10 |is, you're going to do the surest, fastest way to get there is to look for
653 |652 |00:55:10 ~-~-> 00:55:16 |low hanging fruit. Objectives, I promise you this, okay? I promise you you think
654 |653 |00:55:16 ~-~-> 00:55:21 |that $250 isn't enough right now, it's not it's not enough right now, because
655 |654 |00:55:21 ~-~-> 00:55:24 |you see my results, you see my students results, you see other people out there
656 |655 |00:55:24 ~-~-> 00:55:29 |getting their results, and they're getting paid with real money, and you're
657 |656 |00:55:29 ~-~-> 00:55:32 |trying to measure up to that stuff, and you're thinking, wow, you know, I'm
658 |657 |00:55:32 ~-~-> 00:55:35 |going to have to do a whole lot more than that, or people won't recognize
659 |658 |00:55:35 ~-~-> 00:55:40 |you. That's bullshit, because I have a great deal of respect for someone that
660 |659 |00:55:40 ~-~-> 00:55:45 |can walk out there every single day and find the reoccurring pattern, not just
661 |660 |00:55:45 ~-~-> 00:55:48 |throw the dice and I made 250 bucks. You're trying to do something different
662 |661 |00:55:48 ~-~-> 00:55:52 |every day, and just happen to get 250 bucks chasing momentum that, to me, is
663 |662 |00:55:52 ~-~-> 00:55:56 |absolutely skillless. That's no skill. That's that's tantamount to go into the
664 |663 |00:55:56 ~-~-> 00:56:01 |casino or playing the lottery. You have no model. If it's moving, let's run
665 |664 |00:56:01 ~-~-> 00:56:06 |after it and chase it. If you if your trading model is like a dog chasing
666 |665 |00:56:06 ~-~-> 00:56:12 |cars, there's a lot of dogs that chase cars, but a lot of dogs don't live long
667 |666 |00:56:12 ~-~-> 00:56:18 |doing that. And I think that someone that has a model that frames out the
668 |667 |00:56:18 ~-~-> 00:56:25 |basis for finding that $250 that tends to repeat based on reoccurring
669 |668 |00:56:25 ~-~-> 00:56:31 |phenomenon, things that have a reoccurring basis, that this is what it
670 |669 |00:56:31 ~-~-> 00:56:35 |does at this time of day. I'm looking for this. Where should the market draw
671 |670 |00:56:35 ~-~-> 00:56:41 |to new week opening gaps or New Day opening gaps. That is not ambiguous.
672 |671 |00:56:42 ~-~-> 00:56:46 |That is not something that's complex, folks, that's very, very simple stuff.
673 |672 |00:56:47 ~-~-> 00:56:52 |That's the easiest thing in the world. No moving average is required. No V wop,
674 |673 |00:56:52 ~-~-> 00:56:57 |nothing. None of that stuff. No higher Time Frame, top down. Announce approach.
675 |674 |00:56:57 ~-~-> 00:57:03 |None of that stuff's required. None of that is, how do you supercharge it when
676 |675 |00:57:03 ~-~-> 00:57:05 |you have a gap opening?
677 |676 |00:57:07 ~-~-> 00:57:11 |So at 930 if we gapped higher than when we settled the previous day, what's the
678 |677 |00:57:11 ~-~-> 00:57:15 |previous day? On a Monday, Friday, we had that today too. So that's why I was
679 |678 |00:57:15 ~-~-> 00:57:20 |confident. Told you in that tweet, I'm comfortable, and I like the idea of
680 |679 |00:57:20 ~-~-> 00:57:23 |these new weak opening gaps clustered as a draw in liquidity. Where did the
681 |680 |00:57:23 ~-~-> 00:57:30 |market go when your charts did go parabolically higher today? No, went
682 |681 |00:57:30 ~-~-> 00:57:34 |right down into these areas here, and it still hasn't touched the consequent
683 |682 |00:57:34 ~-~-> 00:57:39 |encroachment or midpoint. And it further validates what I'm teaching you and what
684 |683 |00:57:39 ~-~-> 00:57:45 |I taught my sons that they can, see Dad, do really amazing objectives and and
685 |684 |00:57:45 ~-~-> 00:57:49 |they can go trade right to the tick high or just a few ticks away from the high
686 |685 |00:57:50 ~-~-> 00:57:53 |of the day, of the session of the morning price Swing, swing, or the
687 |686 |00:57:53 ~-~-> 00:57:59 |afternoon price swing. And that's a that's a goal for them, but that's not a
688 |687 |00:57:59 ~-~-> 00:58:03 |I gotta do it that way, or it fails, or if I can't do that, I'm a failure, or
689 |688 |00:58:03 ~-~-> 00:58:07 |there's no sense in worrying about doing it at all if I can't do it that way,
690 |689 |00:58:08 ~-~-> 00:58:14 |versus as their dad, as their mentor, too, and as your mentor, I'm reminding
691 |690 |00:58:14 ~-~-> 00:58:21 |you that if you find a way for yourself just starting out, if you can find 250
692 |691 |00:58:22 ~-~-> 00:58:27 |200 bucks, 100 bucks doesn't have to be these, these specific numbers, but you
693 |692 |00:58:27 ~-~-> 00:58:32 |have to have something that you'd say, Okay, if I go out every day and I look
694 |693 |00:58:32 ~-~-> 00:58:37 |for this very easy objective of, whatever it is that you're trying to,
695 |694 |00:58:37 ~-~-> 00:58:41 |you know, take down, I say 250 bucks because, you know, that's a really good
696 |695 |00:58:41 ~-~-> 00:58:46 |living. In addition to having whatever your job is, I don't even care if you
697 |696 |00:58:46 ~-~-> 00:58:50 |have a low income paying job right now, most people, by definition, in America
698 |697 |00:58:50 ~-~-> 00:58:56 |right now, are working a low paid job because inflation ravished everything. I
699 |698 |00:58:56 ~-~-> 00:58:59 |feel the pinch when I go out and spend groceries. I don't. I don't like that. I
700 |699 |00:58:59 ~-~-> 00:59:03 |have to spend that much, I think it's, it's a travesty, you know, and I think
701 |700 |00:59:03 ~-~-> 00:59:07 |about how everyone else is trying to do it, and I don't know how they're doing
702 |701 |00:59:07 ~-~-> 00:59:10 |it, like, I don't know how anybody else that doesn't have some measure of income
703 |702 |00:59:10 ~-~-> 00:59:18 |or cash flow coming in, how can you all be making it? It's got to be hard. So by
704 |703 |00:59:18 ~-~-> 00:59:24 |having some low threshold that frames your result on this is what I believe I
705 |704 |00:59:24 ~-~-> 00:59:30 |can find this every single day, meaning you can get 10 handles in the NASDAQ, or
706 |705 |00:59:30 ~-~-> 00:59:35 |15 handles in the NASDAQ, or 20 handles in the NASDAQ, or five handles in the S
707 |706 |00:59:35 ~-~-> 00:59:39 |P, or 10 handles in the S P every single day, It might require you to do two
708 |707 |00:59:39 ~-~-> 00:59:45 |trades, four future trade with a 15 minute time frame, just one trade and
709 |708 |00:59:45 ~-~-> 00:59:50 |get it easily using a one minute or 15 second chart to get yourself into a move
710 |709 |00:59:50 ~-~-> 00:59:54 |that's already started recurring, you know, reacting off a higher Time Frame,
711 |710 |00:59:54 ~-~-> 00:59:57 |meaning that 15 minutes is the high time frame for day trading. You don't need to
712 |711 |00:59:57 ~-~-> 01:00:02 |go up to a daily chart. You don't need to go to. Narrowly chart, but using
713 |712 |01:00:02 ~-~-> 01:00:09 |these ideas to frame out a very easy objective, and it frees you up. It gives
714 |713 |01:00:09 ~-~-> 01:00:14 |you permission to not be perfect, because I wrestle and men I'm telling
715 |714 |01:00:14 ~-~-> 01:00:17 |you right now, you can lie and say that you don't think this, but you're
716 |715 |01:00:17 ~-~-> 01:00:22 |absolutely doing this. You want to be better than the last thing that I posted
717 |716 |01:00:22 ~-~-> 01:00:26 |or someone else posted, that's exactly what you're doing. Your next trait. I'm
718 |717 |01:00:26 ~-~-> 01:00:29 |going to do something more impressive. I'm going to prove myself. I'm going to
719 |718 |01:00:29 ~-~-> 01:00:32 |prove this. I'm going to and the only thing end up proving is is you're not
720 |719 |01:00:34 ~-~-> 01:00:38 |ready. Why? Because you're trying to make the outcome an Olympic feat that
721 |720 |01:00:38 ~-~-> 01:00:42 |noone else asked you to do that. I'm your teacher, I'm your mentor, and I'm
722 |721 |01:00:42 ~-~-> 01:00:49 |telling you, start on the lowest threshold. I'm not hindering you. But
723 |722 |01:00:49 ~-~-> 01:00:54 |many people will hear me say this, and I'll be honest with you, if I was out
724 |723 |01:00:54 ~-~-> 01:00:58 |there trying to make my grocery money, trying to sell mentorships and bullshit
725 |724 |01:00:58 ~-~-> 01:01:02 |like that, right now, if I need the money, I would attack my angle of
726 |725 |01:01:02 ~-~-> 01:01:05 |approach and say, Who would you rather learn from? Someone's going to go out
727 |726 |01:01:05 ~-~-> 01:01:09 |there and tell you to to try to make 250 books, or someone that can take down
728 |727 |01:01:09 ~-~-> 01:01:12 |3500 hours every single day. And here's how I'm going to do it, and show you how
729 |728 |01:01:12 ~-~-> 01:01:16 |to do it too. I would mark it that way because I can do 3500 easy every single
730 |729 |01:01:16 ~-~-> 01:01:20 |day. That's an easy thing for me. And I could attack someone that would be
731 |730 |01:01:20 ~-~-> 01:01:24 |teaching this approach, but I'm the same guy that tells you what's going to
732 |731 |01:01:24 ~-~-> 01:01:28 |happen before it happens to the tick. And I've created millionaire students.
733 |732 |01:01:28 ~-~-> 01:01:32 |Now, okay, it's documented. I have other people out there you're never going to
734 |733 |01:01:32 ~-~-> 01:01:36 |meet, but now you see these people. They brought the receipts forward, and it is
735 |734 |01:01:36 ~-~-> 01:01:39 |what it is. No one can argue against that. So they're using the things I'm
736 |735 |01:01:39 ~-~-> 01:01:43 |teaching. But not all of you are equipped to get to their ability or
737 |736 |01:01:43 ~-~-> 01:01:48 |prowess right away. It's going to take you a little bit of time. So how do you
738 |737 |01:01:48 ~-~-> 01:01:53 |graduate into that the right way? Not rushed, not feeling like you missed the
739 |738 |01:01:53 ~-~-> 01:01:56 |right playlist on my YouTube channel that could have made it easier for you.
740 |739 |01:01:56 ~-~-> 01:02:02 |The 2024 playlist is the right one, because everything I've said here, I've
741 |740 |01:02:02 ~-~-> 01:02:06 |counseled you at different parts and times to go into other playlists for
742 |741 |01:02:06 ~-~-> 01:02:10 |certain and specific reasons. But getting into the marketplace for the
743 |742 |01:02:10 ~-~-> 01:02:13 |first time, hitting the ground running, listen to someone that's telling you
744 |743 |01:02:13 ~-~-> 01:02:19 |beforehand in real price action, using real money, not always a demo account,
745 |744 |01:02:20 ~-~-> 01:02:25 |this stuff works, and you could stop your job very easily within 18 months.
746 |745 |01:02:26 ~-~-> 01:02:29 |Now there's going to be people that say, Hey, we're going to teach you how to get
747 |746 |01:02:29 ~-~-> 01:02:35 |this in 12 weeks or less. I promise you, you're going to crash and burn. I
748 |747 |01:02:35 ~-~-> 01:02:39 |promise you that's always high pressure sales. It's always guaranteed that's
749 |748 |01:02:39 ~-~-> 01:02:44 |exactly what it is. Okay? I'm trying to remind you that there is no race here.
750 |749 |01:02:44 ~-~-> 01:02:48 |There's no sprint required, and you need to take your time in the beginning,
751 |750 |01:02:48 ~-~-> 01:02:52 |because everybody and myself was included in this. If you rush this in
752 |751 |01:02:52 ~-~-> 01:02:56 |the beginning, or if you've been doing it for years and you've not been able to
753 |752 |01:02:56 ~-~-> 01:03:03 |find consistency, the surest way to get there is lower your expectation and aim
754 |753 |01:03:03 ~-~-> 01:03:07 |for the easiest objective. Yes, it's sexy. If you could get a shortened trade
755 |754 |01:03:07 ~-~-> 01:03:11 |and get out at the low of the new week opening gap. Yes, it would absolutely be
756 |755 |01:03:11 ~-~-> 01:03:18 |impressive to me too. I would give you, Hey man, well done. Awesome. But I'm
757 |756 |01:03:18 ~-~-> 01:03:23 |more impressed for someone that's brand new, to admit that they don't have the
758 |757 |01:03:23 ~-~-> 01:03:27 |skill set yet, but they're aiming for it, and they're working diligently every
759 |758 |01:03:27 ~-~-> 01:03:33 |single day to acquire that. And then, by doing these things, aiming for something
760 |759 |01:03:33 ~-~-> 01:03:37 |that's low hanging fruit, very easy objective, and they're consistently
761 |760 |01:03:37 ~-~-> 01:03:41 |hitting it. You know what that means? They're a better trader than the guy or
762 |761 |01:03:41 ~-~-> 01:03:45 |gal that says, hey, this week or this day I got that target that one time.
763 |762 |01:03:47 ~-~-> 01:03:52 |Which one's going to be more apt to be able to replicate it, getting the new
764 |763 |01:03:52 ~-~-> 01:03:56 |week, opening that low on a short every single time you take a short or hitting
765 |764 |01:03:56 ~-~-> 01:04:02 |your $250 target. Clearly, it goes. Without saying, the person that has a
766 |765 |01:04:02 ~-~-> 01:04:06 |very low hanging fruit objective making $250 so if your trading is always based
767 |766 |01:04:06 ~-~-> 01:04:13 |on the Olympic feat result at the end, if it's always based on that, always
768 |767 |01:04:13 ~-~-> 01:04:17 |based on some high end expectation that's really meant to impress everybody
769 |768 |01:04:17 ~-~-> 01:04:21 |else versus I'm making money consistently and I'm not working hard or
770 |769 |01:04:21 ~-~-> 01:04:27 |struggling with stress while doing it. Everybody's swinging for the fence is
771 |770 |01:04:27 ~-~-> 01:04:31 |always sweating bullets. Believe me, their asshole is puckering every single
772 |771 |01:04:31 ~-~-> 01:04:34 |time their trades in drawdown while they're in it, and they still might be
773 |772 |01:04:34 ~-~-> 01:04:38 |profitable at the end of that trade, but while it's ticking against them, their
774 |773 |01:04:38 ~-~-> 01:04:42 |asshole is tighter than a bull's ass, squeezing up, squeezing up, thinking, oh
775 |774 |01:04:42 ~-~-> 01:04:47 |man, here's here. Here comes. Here it comes. The eventual loser is going to
776 |775 |01:04:47 ~-~-> 01:04:50 |come, and here it is at my highest leverage, and that's when they that's
777 |776 |01:04:50 ~-~-> 01:04:53 |when it's absolutely going to come. But you know what happens when you trade
778 |777 |01:04:53 ~-~-> 01:04:59 |with the lowest threshold objective? In mind, your goal is a very small, easily.
779 |778 |01:05:00 ~-~-> 01:05:04 |Reached objective when you're brand new, you're teaching yourself to take more
780 |779 |01:05:04 ~-~-> 01:05:09 |emphasis and place it behind consistency versus I need to make more money to so
781 |780 |01:05:09 ~-~-> 01:05:17 |it can be impressive to my loved one, my partner, my co workers, myself, or the
782 |781 |01:05:17 ~-~-> 01:05:20 |people online that don't give a shit about you. They don't care about you.
783 |782 |01:05:21 ~-~-> 01:05:24 |They don't care about you, and you're trying to win these people over that
784 |783 |01:05:24 ~-~-> 01:05:27 |you're never going to hang out with, you're never going to come to dinner on
785 |784 |01:05:27 ~-~-> 01:05:30 |Thanksgiving. You're not buying them anything for Christmas, and they sure as
786 |785 |01:05:30 ~-~-> 01:05:34 |hell ain't giving you anything. But you place so much emphasis on pleasing these
787 |786 |01:05:34 ~-~-> 01:05:39 |other people versus spending the time properly with very sober minded
788 |787 |01:05:40 ~-~-> 01:05:44 |procedures and routines that you're trying to follow every single day. It's
789 |788 |01:05:44 ~-~-> 01:05:49 |about being consistent, folks, and until you find that consistency, if you're not
790 |789 |01:05:50 ~-~-> 01:05:55 |motivated to be consistent, you're going to be inconsistent consistently. And
791 |790 |01:05:55 ~-~-> 01:05:58 |that means you're not going to be profitable. That means you're going to
792 |791 |01:05:58 ~-~-> 01:06:01 |be blowing accounts, going in a drawdown, losing your accounts, losing
793 |792 |01:06:01 ~-~-> 01:06:05 |funding accounts, or never getting your profit. Your prop firm funded. That's
794 |793 |01:06:05 ~-~-> 01:06:09 |that's going to be a cycle you stay in. And you're going to listen to videos and
795 |794 |01:06:09 ~-~-> 01:06:12 |talks like this, and you'll say, You know what? That was the right thing. I
796 |795 |01:06:12 ~-~-> 01:06:15 |need to hear that ICT, or whoever else you're listening to. And you'll be
797 |796 |01:06:15 ~-~-> 01:06:18 |motivated for that moment, until you go out there and do the same things you
798 |797 |01:06:18 ~-~-> 01:06:21 |have not learned to stop doing, and then you go right back to the same thing. I
799 |798 |01:06:21 ~-~-> 01:06:25 |need somebody to motivate to motivate me. What would you do to tell what would
800 |799 |01:06:25 ~-~-> 01:06:29 |you tell somebody that has consistently, really trying hard to make money but are
801 |800 |01:06:29 ~-~-> 01:06:36 |unprofitable? Listen to these lectures. Listen to these these are the things
802 |801 |01:06:36 ~-~-> 01:06:43 |that's going to fix you. These are the things that plague every trader if they
803 |802 |01:06:43 ~-~-> 01:06:46 |do it long enough that they stay in the business long enough, these are all
804 |803 |01:06:46 ~-~-> 01:06:50 |problems that everyone encounters, and there's a lot of times that we want to
805 |804 |01:06:50 ~-~-> 01:06:55 |go back in time and fix the things that we didn't do correctly, and that's the
806 |805 |01:06:55 ~-~-> 01:06:59 |way I teach. I teach so that way you don't have to make the mistakes that I
807 |806 |01:06:59 ~-~-> 01:07:04 |did, because I'm trying to keep my sons from making those mistakes. You just are
808 |807 |01:07:04 ~-~-> 01:07:07 |part of the conversation because you're eavesdropping. I'm making these
809 |808 |01:07:07 ~-~-> 01:07:08 |conversations public to you.
810 |809 |01:07:10 ~-~-> 01:07:16 |So when I tell Caleb son, if you are aiming for something and it is, this is
811 |810 |01:07:16 ~-~-> 01:07:22 |your objective, to try to draw to the highest level in the clustering of two
812 |811 |01:07:22 ~-~-> 01:07:26 |new week opening gaps. The purple woman's last week's This is last week's
813 |812 |01:07:26 ~-~-> 01:07:28 |high of the new week opening gap. This is last week's low of the new week
814 |813 |01:07:28 ~-~-> 01:07:34 |opening gap. This is this week's current high of the new week opening gap, the
815 |814 |01:07:34 ~-~-> 01:07:37 |midpoint of it or consequence and the low of this current week's new week
816 |815 |01:07:37 ~-~-> 01:07:42 |opening gap. All these levels down here are not important to dad. I don't care
817 |816 |01:07:42 ~-~-> 01:07:47 |if you hit them. I don't care about that. I don't expect you to be able to
818 |817 |01:07:47 ~-~-> 01:07:56 |hit those levels. But if you aim in the direction of this level right here, and
819 |818 |01:07:56 ~-~-> 01:08:02 |you short, because that's the bias, and you short with a fair value gap that
820 |819 |01:08:02 ~-~-> 01:08:08 |yields you $250 and if it doesn't even come close to this level, but you still
821 |820 |01:08:08 ~-~-> 01:08:15 |can hit $250 I'm impressed. I'm gonna say that another way. You don't need it
822 |821 |01:08:15 ~-~-> 01:08:22 |to hit your target. Your target is just the best case scenario, that's Terminus.
823 |822 |01:08:22 ~-~-> 01:08:26 |That means this is the best you could hope for at the time based on your
824 |823 |01:08:26 ~-~-> 01:08:32 |current para understanding and skill set. But if you're trading and you don't
825 |824 |01:08:32 ~-~-> 01:08:37 |have a whole lot of skill set behind you, your prowess is low, your output in
826 |825 |01:08:37 ~-~-> 01:08:43 |terms of consistently profitable is going to be very, very low. So to keep
827 |826 |01:08:43 ~-~-> 01:08:47 |yourself from beating yourself up in your journal or feeling negative
828 |827 |01:08:47 ~-~-> 01:08:50 |feelings while you're in the trade because you're having too high of
829 |828 |01:08:50 ~-~-> 01:08:55 |expectation, aim for something that yields you whatever that dollar amount
830 |829 |01:08:55 ~-~-> 01:09:00 |is, and live there for a couple months while you're learning other things.
831 |830 |01:09:01 ~-~-> 01:09:04 |Because what you're doing is you're fortifying the ability and proof that
832 |831 |01:09:04 ~-~-> 01:09:11 |you can be consistent, that you can follow rules in a model. And money isn't
833 |832 |01:09:11 ~-~-> 01:09:15 |the instigation for you to break your rules, because that's what everybody
834 |833 |01:09:15 ~-~-> 01:09:21 |does every single time I break rules, and I break them still today, I out
835 |834 |01:09:21 ~-~-> 01:09:25 |think my models, I try to do other things, and it's because I'm trying to
836 |835 |01:09:25 ~-~-> 01:09:29 |stick the thumb in somebody else's eye that has said something that may or may
837 |836 |01:09:29 ~-~-> 01:09:33 |not be true, and I just want to be an instigator. I want to be a troublemaker
838 |837 |01:09:33 ~-~-> 01:09:38 |that day. So I fall victim to social media a lot because I find it fun, but
839 |838 |01:09:39 ~-~-> 01:09:42 |I'm not going to blow my brains out because someone doesn't think I'm
840 |839 |01:09:42 ~-~-> 01:09:45 |profitable or I'm not a good trader, because I could get two shits. I could
841 |840 |01:09:45 ~-~-> 01:09:49 |go out here every single day and prove that I am. And still today, they see
842 |841 |01:09:49 ~-~-> 01:09:52 |it's a live account, and they're like, Well, it's a demo account. The out of
843 |842 |01:09:52 ~-~-> 01:09:56 |your your clown. They're literally saying at amp account says live on a
844 |843 |01:09:56 ~-~-> 01:09:59 |demo account. I want somebody to go out there and open up a amp demo account.
845 |844 |01:10:00 ~-~-> 01:10:03 |Out and log into it with trading view, and let's see if it says fucking amp.
846 |845 |01:10:04 ~-~-> 01:10:09 |Live fuck out of here. Man, see for fucking clowns. But if my son, or any
847 |846 |01:10:09 ~-~-> 01:10:14 |one of my students go out there and they consistently hit that target every
848 |847 |01:10:14 ~-~-> 01:10:18 |single day, and they're doing it with the idea that they're aiming for a
849 |848 |01:10:18 ~-~-> 01:10:22 |direction, okay, because every one of us, when we first start, we're like
850 |849 |01:10:22 ~-~-> 01:10:26 |sailboats without a rudder, meaning, wherever the wind blows us, that's where
851 |850 |01:10:26 ~-~-> 01:10:30 |we're going to go, and that's why it's so easy to system hop. Oh, this person's
852 |851 |01:10:30 ~-~-> 01:10:34 |getting a lot of attention right now. What do they do? Oh, they're using V
853 |852 |01:10:34 ~-~-> 01:10:37 |wop. I mean, maybe I should put a B wop on my chart. Oh, what are they doing?
854 |853 |01:10:37 ~-~-> 01:10:41 |They're doing supply and demand with Elliot wave and Wyckoff blended. Oh,
855 |854 |01:10:41 ~-~-> 01:10:47 |well, maybe I should add that stuff too. No, no, no, no, no, no, no. If I'm going
856 |855 |01:10:47 ~-~-> 01:10:52 |to say this, okay, if you're going to learn from me, you're going to put down
857 |856 |01:10:52 ~-~-> 01:10:56 |everything else, because I'm going to criticize any blending of anything,
858 |857 |01:10:56 ~-~-> 01:10:59 |because really what you're doing is you're you're going to dilute the
859 |858 |01:10:59 ~-~-> 01:11:04 |effects and efficacy of what it is I teach by placing emphasis on things that
860 |859 |01:11:04 ~-~-> 01:11:08 |have no bearing on why price goes up and down. So if you're going to be a student
861 |860 |01:11:08 ~-~-> 01:11:11 |of my work, you need to cast everything else to the side, because it's all
862 |861 |01:11:11 ~-~-> 01:11:16 |bullshit. It's all time and price. That's all that it is. But I have little
863 |862 |01:11:16 ~-~-> 01:11:21 |artifacts and price action that help you identify when these elements are coming
864 |863 |01:11:21 ~-~-> 01:11:27 |into the fray, where it's going to cause markets to do certain things, and when
865 |864 |01:11:27 ~-~-> 01:11:30 |they're not there, you do nothing. But if you're not going to be a student of
866 |865 |01:11:30 ~-~-> 01:11:35 |my stuff, don't use any of my stuff and fall in line with whatever anybody else
867 |866 |01:11:35 ~-~-> 01:11:42 |is teaching you. And see how that see how that yields for you and whoever's
868 |867 |01:11:42 ~-~-> 01:11:46 |teaching you, they need to be focusing on things that I'm sharing in the long
869 |868 |01:11:46 ~-~-> 01:11:50 |winded stuff, because you can tell when somebody's made a lot of money and has
870 |869 |01:11:50 ~-~-> 01:11:53 |been around the block for a long time, because they're going to give you advice
871 |870 |01:11:53 ~-~-> 01:11:56 |that makes a lot of sense, and it's going to fly in the face of what you
872 |871 |01:11:56 ~-~-> 01:12:00 |think you should be doing. That's how you know right away that somebody has a
873 |872 |01:12:00 ~-~-> 01:12:06 |little bit more wisdom than you. And I rejected that when I was younger. I
874 |873 |01:12:06 ~-~-> 01:12:10 |rejected that on the on the things that mattered the most. When people were
875 |874 |01:12:10 ~-~-> 01:12:15 |trying to suggest that I shouldn't risk so much money, I was like, not me. I'm
876 |875 |01:12:15 ~-~-> 01:12:18 |going to go in there as much leverage I can put on. That's what I'm putting on.
877 |876 |01:12:18 ~-~-> 01:12:25 |Because I have to quit my job. I gotta get out of the rat race? Well, Caleb, he
878 |877 |01:12:25 ~-~-> 01:12:31 |just experienced getting fired. He lost the job because of output. His ability
879 |878 |01:12:31 ~-~-> 01:12:38 |to keep up with an A quota that they raised up. He wasn't able to meet that
880 |879 |01:12:38 ~-~-> 01:12:44 |criteria, so now he has to work at a job out of state. He spends more money in
881 |880 |01:12:44 ~-~-> 01:12:51 |commuting. That's the that's the outcome. And I could be the dad that
882 |881 |01:12:51 ~-~-> 01:12:55 |says, Here you go, son, here's $100,000 for this year, live comfortably, and
883 |882 |01:12:55 ~-~-> 01:12:59 |then in January, I'll give you another $1,000 live comfortably and just do
884 |883 |01:12:59 ~-~-> 01:13:05 |whatever you want to do and just be a bum. I could be that, but that's not
885 |884 |01:13:05 ~-~-> 01:13:10 |what I want. So now, the motivation that is required to learn this, he has it
886 |885 |01:13:10 ~-~-> 01:13:14 |now, because he knows what it tastes like when you're eating the shit from
887 |886 |01:13:14 ~-~-> 01:13:20 |the shovel that they give you. And call it a job. He knows what it feels like
888 |887 |01:13:20 ~-~-> 01:13:26 |now. So that motivation to learn how to do this is highest than it's ever been.
889 |888 |01:13:28 ~-~-> 01:13:31 |And for some of you, it's going to take those types of lessons in life where
890 |889 |01:13:31 ~-~-> 01:13:36 |something's taken from you, or hardship comes and you're you're forced to say,
891 |890 |01:13:36 ~-~-> 01:13:40 |Okay, what am I doing this for? Am I really in here trying to get worse by
892 |891 |01:13:40 ~-~-> 01:13:44 |other people on social media. Is that really going to pay my bills? Is that
893 |892 |01:13:44 ~-~-> 01:13:49 |really going to make me a better trader, or is it something as simple as saying,
894 |893 |01:13:49 ~-~-> 01:13:55 |where's the market going to go? How can I find a way to facilitate a mechanism
895 |894 |01:13:55 ~-~-> 01:14:01 |or model that says I'm buying or selling today? What is that? Well, it's two
896 |895 |01:14:01 ~-~-> 01:14:08 |different things here, blended a gap opening at 930 based on previous day
897 |896 |01:14:08 ~-~-> 01:14:11 |settlement, so the first 30 minutes right away. You know, the bias is based
898 |897 |01:14:11 ~-~-> 01:14:16 |on that gap, half that gap filling. But what happens when half that gap filling
899 |898 |01:14:17 ~-~-> 01:14:22 |also yields something beyond that, where you have clusterings of The New Day
900 |899 |01:14:22 ~-~-> 01:14:26 |opening or, sorry, yeah, New Day opening gap, or new week opening gap. What
901 |900 |01:14:26 ~-~-> 01:14:32 |happens when that is in the in the storyline too. Then you have much more
902 |901 |01:14:32 ~-~-> 01:14:38 |likelihood of the 70% probability of that half the gap from 930 opening bell
903 |902 |01:14:38 ~-~-> 01:14:44 |and previous day settlement filling or printing, and then full gap closure, or
904 |903 |01:14:44 ~-~-> 01:14:48 |three quarter gap closure, or even more, until we get into the highest level of
905 |904 |01:14:48 ~-~-> 01:14:53 |clustered new week opening gaps or New Day opening gaps. Both of these are
906 |905 |01:14:53 ~-~-> 01:14:59 |indicating that the market is going to go lower right from the opening bell. So
907 |906 |01:14:59 ~-~-> 01:15:02 |you. We're not even trying to predict the closing price. We're not trying to
908 |907 |01:15:02 ~-~-> 01:15:06 |predict the weekly range direction. We're not doing any of those things.
909 |908 |01:15:06 ~-~-> 01:15:09 |We're looking at guerrilla warfare techniques where you just go in there.
910 |909 |01:15:09 ~-~-> 01:15:15 |Okay, if, if you walked out your house and hit the fan, all hell breaks loose
911 |910 |01:15:15 ~-~-> 01:15:19 |in your neighborhood. Yeah. Do you know what you're going to do, how you're
912 |911 |01:15:19 ~-~-> 01:15:25 |going to react? What are you going to do by trading this way? Caleb is not
913 |912 |01:15:25 ~-~-> 01:15:29 |required to have everything else that I have made available to all of you on my
914 |913 |01:15:29 ~-~-> 01:15:33 |YouTube channel. It gives him something to focus on, right here, right now,
915 |914 |01:15:33 ~-~-> 01:15:39 |which is the reason why I said 2024. Is the perfect starting point. There's
916 |915 |01:15:39 ~-~-> 01:15:44 |other things you can learn in all the other playlists, but you should start
917 |916 |01:15:44 ~-~-> 01:15:47 |here at this one. If you've never done anything else with my work, because it's
918 |917 |01:15:47 ~-~-> 01:15:51 |over top of live price action. It's giving you something that is intended
919 |918 |01:15:51 ~-~-> 01:15:56 |for my own son. It's not wishy washy, it's not ambiguous, it they're very,
920 |919 |01:15:56 ~-~-> 01:16:01 |very specific things I've given you in 2024 mentorship, I peel back all the the
921 |920 |01:16:01 ~-~-> 01:16:05 |fluff, okay, and where it's necessary, the talking points like I'm doing today.
922 |921 |01:16:06 ~-~-> 01:16:11 |It's to remind you the importance of why I teach the way I teach. Last week, I
923 |922 |01:16:11 ~-~-> 01:16:16 |covered these, these conditions here, when there's no news and it's on a
924 |923 |01:16:16 ~-~-> 01:16:23 |Monday, you trade what pre market session that means before 930 opening
925 |924 |01:16:23 ~-~-> 01:16:27 |bell. But even if you're going to trade after the 930 opening bell, just expect
926 |925 |01:16:27 ~-~-> 01:16:31 |it to be high resistance liquidity conditions. That means there's going to
927 |926 |01:16:31 ~-~-> 01:16:35 |be a lot of give and take, back and forth price action. So if you look at
928 |927 |01:16:35 ~-~-> 01:16:41 |what we've done here, you thought I would never talk about a chart. The Nine
929 |928 |01:16:41 ~-~-> 01:16:48 |O'Clock High here, which is that old remember I was showing you last week. We
930 |929 |01:16:48 ~-~-> 01:16:56 |were looking for these old highs back here, relative equal highs. So we had
931 |930 |01:16:56 ~-~-> 01:17:03 |this high and this high, and then the higher one back here. So all those
932 |931 |01:17:03 ~-~-> 01:17:06 |levels were traded to last week, and then we were working those same levels
933 |932 |01:17:06 ~-~-> 01:17:07 |here, initially on
934 |933 |01:17:09 ~-~-> 01:17:13 |Monday, and finally we traded up into the lower one here, and we broke down
935 |934 |01:17:13 ~-~-> 01:17:16 |aggressively. So at 930 and
936 |935 |01:17:32 ~-~-> 01:17:38 |right here on this candlestick there, that's where we start trading. And we
937 |936 |01:17:38 ~-~-> 01:17:41 |have this Sibi here, so it's not a balanced buy sign efficiency. It means
938 |937 |01:17:41 ~-~-> 01:17:49 |it's singular one candle. Creating this one big Black Candle down price is going
939 |938 |01:17:49 ~-~-> 01:17:53 |to want to reach up into that. Okay? And this is actually framed on a 15 second
940 |939 |01:17:53 ~-~-> 01:17:56 |chart, so don't be wigging out thinking, Oh, he doesn't have it drawn on, right?
941 |940 |01:17:56 ~-~-> 01:17:59 |Okay. It's because I was looking at a 15 second chart at the time when I created
942 |941 |01:18:00 ~-~-> 01:18:03 |that. But you would have it noted like this on the one minute chart. That's
943 |942 |01:18:03 ~-~-> 01:18:12 |what it would look like on a one minute right there. Okay, so the market has
944 |943 |01:18:12 ~-~-> 01:18:18 |this inefficiency, and at the same time we have a gap higher so previous day
945 |944 |01:18:18 ~-~-> 01:18:28 |settlement. So we opened up here at 930 Eastern Time, previous day settlements
946 |945 |01:18:28 ~-~-> 01:18:36 |down here. So it's a huge opening range gap, if we do our standard measurement,
947 |946 |01:18:38 ~-~-> 01:18:40 |opening price down to
948 |947 |01:18:49 ~-~-> 01:18:53 |previous settlement. Here's half gap, or consequent encroachment of the opening
949 |948 |01:18:53 ~-~-> 01:18:59 |range gap we opened here we traded down to here inside of the first 30 minutes.
950 |949 |01:19:00 ~-~-> 01:19:04 |So again for the Yahoo out there saying, uh, ice, t's lying. It's not 70%
951 |950 |01:19:04 ~-~-> 01:19:08 |accurate that it fills half the gap within the first 30 minutes of trading.
952 |951 |01:19:08 ~-~-> 01:19:12 |How many times have you seen it now? How many times have you seen it, right? So
953 |952 |01:19:14 ~-~-> 01:19:18 |we have the market trade aggressively lower right from the opening bell. We
954 |953 |01:19:18 ~-~-> 01:19:24 |rally up into that city. So sign a bounce by signing efficiency trades,
955 |954 |01:19:24 ~-~-> 01:19:31 |then lower from there into the half gap here failed to get down into new week
956 |955 |01:19:31 ~-~-> 01:19:36 |opening. Got high characteristic of what high resistance liquidity conditions.
957 |956 |01:19:37 ~-~-> 01:19:40 |Yes, it's likely to trade down here. Will it do it on its first pass? No.
958 |957 |01:19:41 ~-~-> 01:19:46 |Will it do it on a second to pass, no retracement, consolidation. Get real
959 |958 |01:19:46 ~-~-> 01:19:50 |close to it. Oh, no, not yet. And then finally, boom, it drops down and hits
960 |959 |01:19:50 ~-~-> 01:19:57 |it. So every one of these price swings in here, this is high resistance
961 |960 |01:19:57 ~-~-> 01:20:01 |liquidity conditions, meaning that we know. So we can determine where the
962 |961 |01:20:01 ~-~-> 01:20:05 |market's going to go to and where it's going to reach for, but it's not going
963 |962 |01:20:05 ~-~-> 01:20:09 |to deliver in a single one way ticket ride rate to it with no retracements of
964 |963 |01:20:09 ~-~-> 01:20:14 |any significance. That's the type of trading I'm teaching you to look for.
965 |964 |01:20:14 ~-~-> 01:20:21 |Caleb, those easy trading days, those easy conditions. If you base all of your
966 |965 |01:20:21 ~-~-> 01:20:27 |trading on that your drawdown will be next to nothing. Your losing days will
967 |966 |01:20:27 ~-~-> 01:20:35 |be next to nothing. Your fear buying by being in the market will be zero. Length
968 |967 |01:20:35 ~-~-> 01:20:41 |of time and trade lowest and your profits will be easily met like that.
969 |968 |01:20:42 ~-~-> 01:20:47 |Now think about who you learn from everyone that are listening. How many
970 |969 |01:20:47 ~-~-> 01:20:50 |books have you read? How many courses have you been part of of, and how many
971 |970 |01:20:50 ~-~-> 01:20:55 |mentorships Did you buy into? How many live streamers Do you listen to? They
972 |971 |01:20:55 ~-~-> 01:21:01 |don't have a way of being able to filter out the chaff, because every day is a
973 |972 |01:21:01 ~-~-> 01:21:09 |trading day. Yeah, yeah, I guess it is, but the outcome may not be favorable for
974 |973 |01:21:09 ~-~-> 01:21:14 |you. If you're brand new and you're listening to these Yahoos that have jobs
975 |974 |01:21:14 ~-~-> 01:21:20 |are going to tell you something that may not be impactful for your investment.
976 |975 |01:21:21 ~-~-> 01:21:25 |They may actually be problematic to you, but you get caught up in the frenzy of,
977 |976 |01:21:25 ~-~-> 01:21:28 |I want to be part of the click. I want to be part of that community, that
978 |977 |01:21:28 ~-~-> 01:21:33 |community, that community, whatever you know who's in my trading room with me
979 |978 |01:21:33 ~-~-> 01:21:40 |when I'm taking trades, none of you. I'll say it this way, who's in there
980 |979 |01:21:40 ~-~-> 01:21:44 |cheerleading me and telling me what trade to get into and where to place my
981 |980 |01:21:44 ~-~-> 01:21:48 |stop and patting me on the back when I made $25,000 in 10 minutes. Who who's
982 |981 |01:21:48 ~-~-> 01:21:52 |there patting me on the back when I'm making six figures inside of two hours?
983 |982 |01:21:52 ~-~-> 01:21:58 |Who's Who's doing that? None of you. I don't need those things. You don't need
984 |983 |01:21:58 ~-~-> 01:22:04 |them either. You don't need to be part of the ICT community. You don't need to
985 |984 |01:22:04 ~-~-> 01:22:09 |be a part of anybody's community. You need to be a community of one, an island
986 |985 |01:22:10 ~-~-> 01:22:14 |in and of yourself, completely separated from everybody else, because the
987 |986 |01:22:14 ~-~-> 01:22:22 |minority is the right mindset here. You want to be independent, a sniper. They
988 |987 |01:22:22 ~-~-> 01:22:26 |don't go out there and hold hands, walking through the forest or the tall
989 |988 |01:22:26 ~-~-> 01:22:30 |grass, getting to their their kill zone, where they set up shop, and start going
990 |989 |01:22:30 ~-~-> 01:22:38 |after everybody. They don't do that by themselves. Very, very slowly, they work
991 |990 |01:22:38 ~-~-> 01:22:42 |their way to their area. May take them days to get to that level of where
992 |991 |01:22:42 ~-~-> 01:22:47 |they're stationed, to take that shot, lot of preparation by themselves, and
993 |992 |01:22:47 ~-~-> 01:22:56 |their whole basis is what precision, not teamwork. Precision, independent, done
994 |993 |01:22:56 ~-~-> 01:23:01 |by themselves. That's exactly what trading is. It's not a fanfare event.
995 |994 |01:23:01 ~-~-> 01:23:06 |It's not a team effort. And a lot of you want that team effort stuff. You want me
996 |995 |01:23:06 ~-~-> 01:23:10 |to sit out here and put you in the same trade I'm in, and I'm trying to teach
997 |996 |01:23:10 ~-~-> 01:23:16 |you that that won't work, that won't work because if there, if I'm teaching
998 |997 |01:23:16 ~-~-> 01:23:20 |you, if I'm teaching you, that there is an entity out there that will
999 |998 |01:23:20 ~-~-> 01:23:28 |cannibalize, that will absolutely cannibalize, very easily obtained
1000 |999 |01:23:28 ~-~-> 01:23:33 |liquidity, because it costs them nothing to reprice to that price or beyond it.
1001 |1000 |01:23:35 ~-~-> 01:23:40 |It's easy to do that. You don't want to say, Hey, I'm a sniper. I'm trying to
1002 |1001 |01:23:40 ~-~-> 01:23:44 |get the best entry there is, and then I'm going to make that entry more
1003 |1002 |01:23:44 ~-~-> 01:23:48 |complicated for me to get that fill, because 10,000 people watching my live
1004 |1003 |01:23:48 ~-~-> 01:23:55 |stream are doing that, and people that are using me as a sounding board to
1005 |1004 |01:23:55 ~-~-> 01:23:59 |sound smart, they're running little signal services, and they're going to
1006 |1005 |01:23:59 ~-~-> 01:24:03 |have their following Follow them, and 15 to 20 people in their group are selling
1007 |1006 |01:24:03 ~-~-> 01:24:06 |signals based on what they're seeing this person do. What are you doing?
1008 |1007 |01:24:07 ~-~-> 01:24:11 |You're building a huge pool of liquidity that if I'm running price, I'm going to
1009 |1008 |01:24:11 ~-~-> 01:24:16 |tag that liquidity. I'm going to snatch it up just like that. None of you that
1010 |1009 |01:24:16 ~-~-> 01:24:23 |talk this stuff prove that you've ever listened to me. I'm trying to get in
1011 |1010 |01:24:23 ~-~-> 01:24:27 |when Nobody's expecting it to be an entry that's what I'm trying to explain
1012 |1011 |01:24:27 ~-~-> 01:24:32 |to you. I'm not trying to have everybody dog pile on the same entry point I am.
1013 |1012 |01:24:32 ~-~-> 01:24:37 |That makes no damn sense. Who wants to do that? I don't want anybody. I don't
1014 |1013 |01:24:37 ~-~-> 01:24:41 |want no dingleberries on my ass when I'm going into the wheel in the field trying
1015 |1014 |01:24:41 ~-~-> 01:24:45 |to get my meat. When I'm going into hunting, I'm not out there banging pots
1016 |1015 |01:24:45 ~-~-> 01:24:49 |and pans. Look at me. Hey, look at me over here. I'm getting ready to win this
1017 |1016 |01:24:49 ~-~-> 01:24:52 |trade. I'm getting ready in here. You see where I'm putting my stop. Hello.
1018 |1017 |01:24:52 ~-~-> 01:24:55 |I'm not doing I'm not doing that. You shouldn't be doing that. You want to be
1019 |1018 |01:24:55 ~-~-> 01:25:00 |going in there when nobody's paying attention. You. Think about how I teach
1020 |1019 |01:25:00 ~-~-> 01:25:06 |you use these live streamers chat window when they're doing everything, opposed
1021 |1020 |01:25:06 ~-~-> 01:25:12 |to what you're expecting to do at the green light to do it. Why would you
1022 |1021 |01:25:12 ~-~-> 01:25:16 |invite more people to do the very thing that you're trying to do the best of
1023 |1022 |01:25:17 ~-~-> 01:25:23 |there's only one podium space for number one. Have you noticed that it's not a
1024 |1023 |01:25:23 ~-~-> 01:25:28 |shared platform? So every time I go out there and I take a trade, I want to be
1025 |1024 |01:25:28 ~-~-> 01:25:32 |the only person in the number one spot podium. I don't want to share that with
1026 |1025 |01:25:32 ~-~-> 01:25:35 |anybody else. You can call that, whatever you want to call it, but that's
1027 |1026 |01:25:35 ~-~-> 01:25:40 |just the reality. Because if I'm going to show you where I'm getting in, I'm
1028 |1027 |01:25:40 ~-~-> 01:25:44 |doing it with a demo account, because that demo is not going to take anything
1029 |1028 |01:25:44 ~-~-> 01:25:49 |from me. But when I'm live trading, I'm in there to make fucking money. I don't
1030 |1029 |01:25:49 ~-~-> 01:25:53 |want to make that that whole task be complicated, because now I have
1031 |1030 |01:25:53 ~-~-> 01:26:01 |competition trying to get that fill 10,000 people, even if 2% of those are
1032 |1031 |01:26:01 ~-~-> 01:26:07 |competing for the same price that I'm aiming for, I may not get my fill if you
1033 |1032 |01:26:07 ~-~-> 01:26:11 |don't understand that, you clearly don't know the you're doing. You have no idea
1034 |1033 |01:26:11 ~-~-> 01:26:15 |what you're talking about or even what you're learning, because they're not
1035 |1034 |01:26:15 ~-~-> 01:26:20 |going to let you get your price if it's already been fulfilled by others getting
1036 |1035 |01:26:20 ~-~-> 01:26:24 |in that price before you they're not obligated to give you your price just
1037 |1036 |01:26:24 ~-~-> 01:26:27 |because you have a limit order sitting there. They're not obli the market is
1038 |1037 |01:26:27 ~-~-> 01:26:34 |not obligated to give you what you want. That's the complexities of this. So you
1039 |1038 |01:26:34 ~-~-> 01:26:39 |have to find a way for you to be the minority, be that sniper that goes out
1040 |1039 |01:26:39 ~-~-> 01:26:44 |there, single handedly and aims for that price you're trying to take. That's your
1041 |1040 |01:26:44 ~-~-> 01:26:48 |mark. That's your entry. That's the thing you're waiting for to go into your
1042 |1041 |01:26:48 ~-~-> 01:26:54 |crosshairs. And when it steps in there, boom. You don't try to make any
1043 |1042 |01:26:55 ~-~-> 01:26:59 |attention to it until you're out of the trade, because then they can't strip it
1044 |1043 |01:26:59 ~-~-> 01:27:04 |out of your hands. You see these people there? Oh, look at this. I'm sharing my
1045 |1044 |01:27:04 ~-~-> 01:27:07 |trade. Look at this. Hasn't gone through my profit yet. I'm not really showing my
1046 |1045 |01:27:07 ~-~-> 01:27:10 |profit yet, and I don't have stop loss on but look at this. I've opened
1047 |1046 |01:27:10 ~-~-> 01:27:17 |unrealized profit. You impressed? No, not impressed by that. Now, Tom Dick and
1048 |1047 |01:27:17 ~-~-> 01:27:20 |Harry over here, they just signed on to x for the first time, and they just
1049 |1048 |01:27:20 ~-~-> 01:27:26 |started learning about Bitcoin. So now they're like, Wow, he's got $600 in open
1050 |1049 |01:27:26 ~-~-> 01:27:30 |profit. He's making more money than I earn in my job. And all of a sudden they
1051 |1050 |01:27:30 ~-~-> 01:27:37 |get a following that way. No. So we have several things here leading to Caleb
1052 |1051 |01:27:37 ~-~-> 01:27:42 |arriving at a bias. We have a large gap opening higher. And then we have the
1053 |1052 |01:27:42 ~-~-> 01:27:46 |clustering of the new week opening gaps down here below it, so below half the
1054 |1053 |01:27:46 ~-~-> 01:27:49 |gap, which is consequent encroachment here. That's the difference between
1055 |1054 |01:27:49 ~-~-> 01:27:55 |Friday's settlement and today's 930 opening Bill Price first print 70% of
1056 |1055 |01:27:55 ~-~-> 01:27:59 |time the first 30 minutes is going to trade half the gap. You've seen it
1057 |1056 |01:27:59 ~-~-> 01:28:07 |again. Happen. Okay? What happens if you have a day like today when there is no
1058 |1057 |01:28:07 ~-~-> 01:28:11 |news medium impact or high impact clustering of the new day and or new
1059 |1058 |01:28:11 ~-~-> 01:28:16 |week opening gaps below price, because you're opening up here at 930 and the
1060 |1059 |01:28:16 ~-~-> 01:28:19 |mid gap, which you'll have a rough idea and approximation, is going to be in
1061 |1060 |01:28:19 ~-~-> 01:28:22 |this vicinity Anyway, before it actually opens there. So like a minute or two
1062 |1061 |01:28:22 ~-~-> 01:28:26 |before 930 you can get a rough idea where that mid gap is going to be at. So
1063 |1062 |01:28:26 ~-~-> 01:28:37 |what do you do as soon as our market opens up? What do you guess it's sitting
1064 |1063 |01:28:37 ~-~-> 01:28:38 |right inside this inefficiency? I
1065 |1064 |01:28:46 ~-~-> 01:28:51 |here. Extend it over. It's spent some time in here, traded above it. It's
1066 |1065 |01:28:51 ~-~-> 01:28:58 |going to act as what inversion at the opening bell. We're already, we're
1067 |1066 |01:28:58 ~-~-> 01:29:04 |already at a premium level. Price is below an old inefficiency. We have sell
1068 |1067 |01:29:04 ~-~-> 01:29:08 |side below here, and we have opening range gap, constant encroachment level
1069 |1068 |01:29:08 ~-~-> 01:29:12 |down here. So that's your 70% likelihood it's going to trade there. But what
1070 |1069 |01:29:12 ~-~-> 01:29:15 |happens if you have the other things that we're talking about here for
1071 |1070 |01:29:15 ~-~-> 01:29:18 |Caleb's model, New Day opening gaps or new week opening gaps that are
1072 |1071 |01:29:18 ~-~-> 01:29:22 |clustered, that means they're they're overlapping one another. You only need
1073 |1072 |01:29:22 ~-~-> 01:29:25 |one level overlapping. It doesn't need to sit inside of like like it does here,
1074 |1073 |01:29:26 ~-~-> 01:29:30 |if you have two levels that are over top of one another, but it causes the range
1075 |1074 |01:29:30 ~-~-> 01:29:34 |of the highest high and the lowest low of any one, New Day opening gap or new
1076 |1075 |01:29:34 ~-~-> 01:29:39 |week opening gap to encroach on the range of another. That's clustering.
1077 |1076 |01:29:40 ~-~-> 01:29:44 |That means that they're, they're, they're going to act as a big magnet for
1078 |1077 |01:29:44 ~-~-> 01:29:48 |price. And the first thing you do is find out whatever the highest level is
1079 |1078 |01:29:48 ~-~-> 01:29:53 |between the two clustered new week opening up or New Day opening apps. And
1080 |1079 |01:29:53 ~-~-> 01:29:56 |that's this year, the new week opening gap high for the current week. It
1081 |1080 |01:29:56 ~-~-> 01:30:00 |doesn't trade to it here, but Caleb doesn't need that. That's. The draw.
1082 |1081 |01:30:01 ~-~-> 01:30:07 |That's the right direction. That's just the right direction. Think about, think
1083 |1082 |01:30:07 ~-~-> 01:30:11 |about where you are in in the United States, if you're listening, okay, for
1084 |1083 |01:30:11 ~-~-> 01:30:14 |the folks in the United States, I don't know how to explain this in other
1085 |1084 |01:30:14 ~-~-> 01:30:18 |people's countries, because, you know, I don't know very much about your
1086 |1085 |01:30:18 ~-~-> 01:30:22 |geography, where you're at, what you have in your in your country, like, I
1087 |1086 |01:30:22 ~-~-> 01:30:26 |don't know, but in the United States, every single city has some kind of an
1088 |1087 |01:30:26 ~-~-> 01:30:32 |arena or stadium, okay? And if you're trying to get someone directions to get
1089 |1088 |01:30:32 ~-~-> 01:30:36 |to that city, and, like, if we wanted to take them to Baltimore, ravens arena,
1090 |1089 |01:30:37 ~-~-> 01:30:41 |you know, or stadium, I have several ways that I can get there, because I
1091 |1090 |01:30:41 ~-~-> 01:30:47 |know where it's at. But for someone that's out of town, and they've never
1092 |1091 |01:30:47 ~-~-> 01:30:51 |been in Maryland before, I can say, Look, I know you're looking for this
1093 |1092 |01:30:51 ~-~-> 01:30:58 |stadium. Okay, if you take this road to, you know, 95 south or 95 north, if
1094 |1093 |01:30:58 ~-~-> 01:31:02 |you're below it, it'll take you to this general location, and then you can start
1095 |1094 |01:31:02 ~-~-> 01:31:08 |finding the signs. Okay, that's basically how you start trading in the
1096 |1095 |01:31:08 ~-~-> 01:31:12 |marketplace. You gotta get yourself in the right general area of profitability,
1097 |1096 |01:31:12 ~-~-> 01:31:19 |and over time, you find all these little, subtle ways of getting closer to
1098 |1097 |01:31:19 ~-~-> 01:31:22 |the best seats at that stadium to watch the big game. The big game is the
1099 |1098 |01:31:22 ~-~-> 01:31:27 |payout, the profit. But you can get somebody that's never been in the area
1100 |1099 |01:31:27 ~-~-> 01:31:31 |before, in the general proximity, and then they can find the signs that they
1101 |1100 |01:31:31 ~-~-> 01:31:35 |have to be looking for, meaning, PD arrays, some kind of exit strategy. So
1102 |1101 |01:31:35 ~-~-> 01:31:40 |if this is where you were trying to get the market to reprice to that height of
1103 |1102 |01:31:40 ~-~-> 01:31:45 |the new week, opening gap for this week. That's just a magnet draw on price. It
1104 |1103 |01:31:45 ~-~-> 01:31:52 |does not need the trade there. So if you see this, and it trades back up into
1105 |1104 |01:31:52 ~-~-> 01:31:56 |this inefficiency, the single candlestick down here, and it trades
1106 |1105 |01:31:56 ~-~-> 01:32:00 |back up into that if you don't sell right at the opening, which is exactly
1107 |1106 |01:32:00 ~-~-> 01:32:05 |what you could be doing. Why? Why just blindly go in there and sell How could
1108 |1107 |01:32:05 ~-~-> 01:32:09 |you trust that ICT? Because we're at a premium array right from Jump Street.
1109 |1108 |01:32:20 ~-~-> 01:32:35 |Think about how we are opening at 930 reading here, okay, all this range, all
1110 |1109 |01:32:35 ~-~-> 01:32:39 |this back and forth, consolidation, that area over here, that was a inversion
1111 |1110 |01:32:39 ~-~-> 01:32:46 |pair, bag up as well all this inefficiency here that was used there
1112 |1111 |01:32:47 ~-~-> 01:32:50 |when we started trading down below it right before the opening bell, right
1113 |1112 |01:32:50 ~-~-> 01:32:58 |here, right there, the opening price is sitting right inside that inversion fair
1114 |1113 |01:32:58 ~-~-> 01:33:04 |value gap after it's already taken. The upper half of that inversion fair value
1115 |1114 |01:33:04 ~-~-> 01:33:09 |gap after leaving the higher inversion. Fair value gap here, when we have no
1116 |1115 |01:33:09 ~-~-> 01:33:18 |news, new week opening gaps is a draw, and the gap opening at 930 using, uh,
1117 |1116 |01:33:18 ~-~-> 01:33:22 |revenue trading hours and previous day settlement. Half the gap is here. So
1118 |1117 |01:33:22 ~-~-> 01:33:25 |what is it going to do? You think it's going to just start rallying up here?
1119 |1118 |01:33:26 ~-~-> 01:33:32 |No, why would it? It's going to make a mad dash to try to get down into half
1120 |1119 |01:33:32 ~-~-> 01:33:39 |gap. 70% probability it's going to do that in the first 30 minutes. Here's 10
1121 |1120 |01:33:39 ~-~-> 01:33:47 |o'clock. Are you? Right there. Did it at that time or before trade to the mid
1122 |1121 |01:33:47 ~-~-> 01:33:56 |gap, which is that red line? Of course, it did. Does it right here? So in 19
1123 |1122 |01:33:56 ~-~-> 01:34:04 |minutes or so, it literally ran to it filled it delivered price to half the
1124 |1123 |01:34:04 ~-~-> 01:34:11 |gap. But do you just say, Okay, it's done no, because there's a draw still
1125 |1124 |01:34:11 ~-~-> 01:34:15 |lower with those new week opening gaps that are clustered last week's new week
1126 |1125 |01:34:15 ~-~-> 01:34:20 |opening gap and current new week opening gap that's below mid gap, indicating
1127 |1126 |01:34:20 ~-~-> 01:34:25 |that today we're going to probably see high resistance liquidity conditions.
1128 |1127 |01:34:25 ~-~-> 01:34:29 |Why is it going to be high resistance liquidity conditions? Because there's no
1129 |1128 |01:34:29 ~-~-> 01:34:35 |economic data, and it's a Monday. So best trading is free market session. And
1130 |1129 |01:34:35 ~-~-> 01:34:40 |you can see that on the example I showed on Twitter. You can see the PD arrays. I
1131 |1130 |01:34:40 ~-~-> 01:34:46 |use this very two simple, simple ones, and I use London lows as a relative
1132 |1131 |01:34:46 ~-~-> 01:34:52 |equal low to draw down into. But for Caleb's model, it's simply just going in
1133 |1132 |01:34:52 ~-~-> 01:34:59 |here and taking a trade based on the ideas that he can find a setup based on
1134 |1133 |01:34:59 ~-~-> 01:35:05 |a. A 15 second chart, a 32nd chart, a 45 second chart, or a one minute chart.
1135 |1134 |01:35:07 ~-~-> 01:35:14 |What would that be? His PD array is a fair value guy, so he has to look for
1136 |1135 |01:35:14 ~-~-> 01:35:17 |something like, like this city here, breaking down. You can't have that one,
1137 |1136 |01:35:18 ~-~-> 01:35:22 |but now you have this, this smaller one in here, when it trades back up into
1138 |1137 |01:35:22 ~-~-> 01:35:27 |that, he has to see price move away from that, because he cannot enter when first
1139 |1138 |01:35:27 ~-~-> 01:35:32 |presented fair value gap until 931 What time is it at the bottom of the chart
1140 |1139 |01:35:32 ~-~-> 01:35:39 |right here, when this forms, it's still in the first minute of trading 930 so he
1141 |1140 |01:35:39 ~-~-> 01:35:43 |has to see a displacement. He can look at this one say, Okay, I want to see it
1142 |1141 |01:35:43 ~-~-> 01:35:49 |move lower. It does move lower, but it's doing it in a fuzzy type delivery where
1143 |1142 |01:35:49 ~-~-> 01:35:53 |it's back and forth. Price Action. This is high resistance liquidity run
1144 |1143 |01:35:53 ~-~-> 01:35:57 |conditions where the where each one of the candlesticks go back and forth,
1145 |1144 |01:35:57 ~-~-> 01:36:02 |they're generally moving lower. I'm not arguing against that. It's important
1146 |1145 |01:36:02 ~-~-> 01:36:06 |that you observe that, but it's also more important that you understand how
1147 |1146 |01:36:06 ~-~-> 01:36:10 |it's delivering it. We're not getting runs like this, where it's big exposure
1148 |1147 |01:36:10 ~-~-> 01:36:14 |left open, and it continues back and then leaves these little areas open.
1149 |1148 |01:36:14 ~-~-> 01:36:19 |It's back and forth. Each range is overlapping. A lot of the previous
1150 |1149 |01:36:19 ~-~-> 01:36:23 |candles, high and low, whatever the previous candles high and low, the next
1151 |1150 |01:36:23 ~-~-> 01:36:27 |candle does a lot of overlapping over the same type of price action, high and
1152 |1151 |01:36:27 ~-~-> 01:36:33 |low of the previous range of every subsequent candlestick that forms, it's
1153 |1152 |01:36:33 ~-~-> 01:36:36 |usually overlapping the previous candlestick to some degree, at least
1154 |1153 |01:36:36 ~-~-> 01:36:40 |half of the candlestick. And when you're seeing that fuzziness, that back and
1155 |1154 |01:36:40 ~-~-> 01:36:46 |forth, type scribbling, if you will, that is high resistance. It's not going
1156 |1155 |01:36:46 ~-~-> 01:36:51 |to have a lot of elements of precision in that. So would you rather be shorting
1157 |1156 |01:36:51 ~-~-> 01:36:55 |a market that has a lot of this type of stuff in here, versus something like
1158 |1157 |01:36:55 ~-~-> 01:36:59 |this, where it has a real big, quick delivery and goes lower? This is low
1159 |1158 |01:36:59 ~-~-> 01:37:05 |resistance. This is high resistance, it's a lot of deep retracements and
1160 |1159 |01:37:05 ~-~-> 01:37:10 |inefficiencies are far and few between, whereas in low resistance, liquidity
1161 |1160 |01:37:10 ~-~-> 01:37:14 |runs, there's lots of inefficiencies there, because speed is the mechanism.
1162 |1161 |01:37:15 ~-~-> 01:37:20 |Speed is the mechanism of delivery, where prices in a hurry to book
1163 |1162 |01:37:20 ~-~-> 01:37:28 |something, it's going higher or lower in a very sudden, fast way. That's how I'm
1164 |1163 |01:37:28 ~-~-> 01:37:32 |teaching my sons. That's how I'm teaching you as my students, to look for
1165 |1164 |01:37:32 ~-~-> 01:37:38 |conditions that afford you these fast yielding targets being hit very little
1166 |1165 |01:37:38 ~-~-> 01:37:43 |retracements, no consolidations whatsoever. Just run to target and be
1167 |1166 |01:37:43 ~-~-> 01:37:46 |done and go live your life. Go do something else outside the charts,
1168 |1167 |01:37:46 ~-~-> 01:37:50 |because you can spend a lot of time trading in these conditions here, and
1169 |1168 |01:37:50 ~-~-> 01:37:53 |you're just going to be thinking, well, it's going to clean up sooner or later,
1170 |1169 |01:37:53 ~-~-> 01:37:57 |and I'll be here when it does not one of the not one economic counters like it is
1171 |1170 |01:37:57 ~-~-> 01:38:06 |today, no news on a Monday. Hello. So we can be right about the direction, but we
1172 |1171 |01:38:06 ~-~-> 01:38:10 |can also say I can be right about direction, but I'm going to try to get
1173 |1172 |01:38:10 ~-~-> 01:38:14 |my signal or set up in early, and if I don't get it in the first 30 minutes,
1174 |1173 |01:38:14 ~-~-> 01:38:19 |I'm just going to toss it out and just be done. So Caleb, he can see after it
1175 |1174 |01:38:19 ~-~-> 01:38:22 |runs up into this gap here, overshoots a little bit. Trades in the upper portion
1176 |1175 |01:38:22 ~-~-> 01:38:27 |of this one, and it breaks outside that pink shaded area, which is a city for
1177 |1176 |01:38:27 ~-~-> 01:38:31 |one minute chart. You can see the bodies respecting the low of that one minute
1178 |1177 |01:38:31 ~-~-> 01:38:37 |charts defined low of that again, city. It doesn't look like one single candle
1179 |1178 |01:38:37 ~-~-> 01:38:41 |here, because it takes two candles on a 15 second chart to do it, but the one
1180 |1179 |01:38:41 ~-~-> 01:38:46 |minute chart has the one single pass down that. That's why this is anchored
1181 |1180 |01:38:46 ~-~-> 01:38:52 |to the points that it is the low of that is supporting and respecting the bodies,
1182 |1181 |01:38:52 ~-~-> 01:38:56 |or the bodies, rather, are respecting the low of that. And then we displace
1183 |1182 |01:38:56 ~-~-> 01:39:00 |there. It drops aggressively. And then you have your first clean fair value.
1184 |1183 |01:39:00 ~-~-> 01:39:12 |Got right there. See it right here? So it looks like this. This is not 930
1185 |1184 |01:39:13 ~-~-> 01:39:22 |candle. It's after 930 so it minimum is at 931 yes, it's 937 so he has, he has
1186 |1185 |01:39:22 ~-~-> 01:39:27 |the ability, rather, to take that trade. He can take that trade. He can get short
1187 |1186 |01:39:27 ~-~-> 01:39:31 |in that fair value gap. But what else is inside that range, if you're looking at
1188 |1187 |01:39:31 ~-~-> 01:39:38 |this candlestick right here, to have that framed for risk, where did it leave
1189 |1188 |01:39:39 ~-~-> 01:39:46 |this city up here. So if it left this city, when it does here, and it breaks
1190 |1189 |01:39:46 ~-~-> 01:39:51 |and it gives you this fair value gap here, if we didn't have price so close
1191 |1190 |01:39:51 ~-~-> 01:39:57 |to that city, low the bottom of that rectangle, shaded area, if it wasn't so
1192 |1191 |01:39:57 ~-~-> 01:40:02 |close to it, like it is here, one of. Day where it's already what, indicating
1193 |1192 |01:40:02 ~-~-> 01:40:05 |it's gonna be high resistance. We already have indications that it's high
1194 |1193 |01:40:05 ~-~-> 01:40:08 |resistance, because it's a lot of back and forth price delivery. Do you do you
1195 |1194 |01:40:08 ~-~-> 01:40:13 |think that Caleb would go once the max leverage in a trade like that? No, no,
1196 |1195 |01:40:13 ~-~-> 01:40:19 |we would not one contract. That's it. He has to start with one contract. But when
1197 |1196 |01:40:19 ~-~-> 01:40:23 |he gets to the point where you can trade with multiple contracts on a day like
1198 |1197 |01:40:23 ~-~-> 01:40:28 |this, he has to trade with one. Now, normally, when you have the single
1199 |1198 |01:40:28 ~-~-> 01:40:31 |candle in the middle, that creates the fair value gap. You can use the high for
1200 |1199 |01:40:31 ~-~-> 01:40:36 |that, for the stop loss. But because we're so close to the low of that range,
1201 |1200 |01:40:37 ~-~-> 01:40:41 |that is the city, this pink shaded area here, you have to use number one candles
1202 |1201 |01:40:41 ~-~-> 01:40:47 |high. And I've covered this in mentorship. 2024 when do I use the the
1203 |1202 |01:40:47 ~-~-> 01:40:51 |stop at the middle candle versus the candlestick that creates number one
1204 |1203 |01:40:51 ~-~-> 01:40:56 |candle a fair value gap is always three candles, number one, first candle,
1205 |1204 |01:40:56 ~-~-> 01:41:02 |number two is always the actual gap, the range that doesn't share space between
1206 |1205 |01:41:02 ~-~-> 01:41:07 |number one candle and number three candle. So if you're shorting the low
1207 |1206 |01:41:07 ~-~-> 01:41:12 |probability, I'm sorry. I'm sorry, I said it wrong. The low risk stop loss is
1208 |1207 |01:41:12 ~-~-> 01:41:17 |using the high of a bearish fair value gaps number two candlesticks, high plus
1209 |1208 |01:41:17 ~-~-> 01:41:22 |one tick. But because we're so close to the low that it could very easily come
1210 |1209 |01:41:22 ~-~-> 01:41:28 |back up here and touch that it can Retrade that at why? Why would we expect
1211 |1210 |01:41:28 ~-~-> 01:41:33 |something that as a as a potential event, because of it being a high
1212 |1211 |01:41:33 ~-~-> 01:41:37 |resistance liquidity run condition market versus if it was in a low
1213 |1212 |01:41:37 ~-~-> 01:41:41 |resistance liquidity run condition, he could take a short in this fair value
1214 |1213 |01:41:41 ~-~-> 01:41:44 |gap, and then use the number two candlestick plus one tick as a stop. But
1215 |1214 |01:41:44 ~-~-> 01:41:47 |as it is here, because of the conditions, as it is for high
1216 |1215 |01:41:47 ~-~-> 01:41:51 |resistance, it's a Monday with new news. It's already indicating a lot of back
1217 |1216 |01:41:51 ~-~-> 01:41:55 |and forth, even though that we can see that clearly has the ability to reach
1218 |1217 |01:41:55 ~-~-> 01:41:59 |lower because the clustered new weak opening gaps and the 70%
1219 |1218 |01:42:00 ~-~-> 01:42:04 |likelihood of trading and filling half of the opening range gap. So you have a
1220 |1219 |01:42:04 ~-~-> 01:42:09 |lot of things drawing price down, but just because you think it's going to go
1221 |1220 |01:42:09 ~-~-> 01:42:12 |down there and it's likely to go down there, doesn't mean that your entry is
1222 |1221 |01:42:12 ~-~-> 01:42:16 |going to be respected without having a stop out. So that means you have to use
1223 |1222 |01:42:16 ~-~-> 01:42:20 |the maximum, which is the candlestick number one, it's high, and that would be
1224 |1223 |01:42:20 ~-~-> 01:42:24 |here, plus one tick. That means you're inside of that shade to pink area.
1225 |1224 |01:42:25 ~-~-> 01:42:29 |You're not You're not getting stopped out here Caleb, and you roll back
1226 |1225 |01:42:29 ~-~-> 01:42:34 |underneath it, and then it comes back up and trades back to that fair value gap.
1227 |1226 |01:42:34 ~-~-> 01:42:42 |Again, it's here, hits it breaks lower, comes down and there's your gap, 70%
1228 |1227 |01:42:43 ~-~-> 01:42:48 |filled in the first 30 minutes, most of the time. Okay, I'll leave it to you. If
1229 |1228 |01:42:48 ~-~-> 01:42:53 |you think 70% most of the time, I would consider that most of the time, seven
1230 |1229 |01:42:53 ~-~-> 01:42:57 |times out of 10 you're doing it right, and you have a favorable outcome. I
1231 |1230 |01:42:57 ~-~-> 01:43:00 |think that's a pretty good odd, and I think many people like they are leaving
1232 |1231 |01:43:00 ~-~-> 01:43:07 |comments in the the section of x when I'm posting things, or in my comment
1233 |1232 |01:43:07 ~-~-> 01:43:10 |section of my videos, which you don't get to see, but I see them a lot. One of
1234 |1233 |01:43:10 ~-~-> 01:43:14 |the things that I find fascinating is people's excitement of how this
1235 |1234 |01:43:14 ~-~-> 01:43:17 |phenomenon of half the gap being filled Saturday time and first 30 minutes
1236 |1235 |01:43:17 ~-~-> 01:43:20 |trading, how often they're seeing that do it, and how often they're finding
1237 |1236 |01:43:20 ~-~-> 01:43:25 |winning trades that are making them money. That's what it's all about. Folks
1238 |1237 |01:43:25 ~-~-> 01:43:28 |finding something that's simple, that doesn't have a whole lot of moving
1239 |1238 |01:43:28 ~-~-> 01:43:34 |parts. I can complicate things. I complicated really, 12 models in
1240 |1239 |01:43:34 ~-~-> 01:43:38 |mentorship, paid mentorship, and I I yielded those first 12. I have two of
1241 |1240 |01:43:38 ~-~-> 01:43:41 |them that were kind of easy. They're real easy, bread runner, Bread Butter
1242 |1241 |01:43:41 ~-~-> 01:43:47 |winners. But the others, I complicated them. Me. I meant to do it that way,
1243 |1242 |01:43:47 ~-~-> 01:43:50 |because I had people in there selling my mentorship. I had people there leaking
1244 |1243 |01:43:50 ~-~-> 01:43:54 |my stuff. So I said, Okay, well, you know, let's see how well you do with
1245 |1244 |01:43:55 ~-~-> 01:43:59 |sharing it, knowing full well that I would come back into them and strip them
1246 |1245 |01:43:59 ~-~-> 01:44:04 |down and compartmentalize them, and you see what you have here. It's a lot of
1247 |1246 |01:44:04 ~-~-> 01:44:08 |different, smaller little models that you can use inside of those models. But
1248 |1247 |01:44:09 ~-~-> 01:44:13 |what I was actually building is a great deal of refinement that most people will
1249 |1248 |01:44:13 ~-~-> 01:44:17 |not be willing to subject themselves to so many rules that are very specific
1250 |1249 |01:44:17 ~-~-> 01:44:21 |that they're not going to want to do it, but they are profitable, absolutely
1251 |1250 |01:44:21 ~-~-> 01:44:25 |profitable, but you have to sit and wait for very, very specific things. Now,
1252 |1251 |01:44:25 ~-~-> 01:44:31 |contrast those 12 models with coming out here and looking at time based models,
1253 |1252 |01:44:32 ~-~-> 01:44:37 |because time is the first aspect to algorithmic price delivery if you know
1254 |1253 |01:44:37 ~-~-> 01:44:42 |that there's going to be a move in the first 30 minutes. And one of my students
1255 |1254 |01:44:42 ~-~-> 01:44:47 |asked, Do I subscribe to an idea that there's an algorithm at 930 that messes
1256 |1255 |01:44:47 ~-~-> 01:44:57 |up price when there's no news? Well, the first 30 minutes is a script, okay, so I
1257 |1256 |01:44:57 ~-~-> 01:45:03 |don't want to say that it's a macro, but. It is a script, like all every day,
1258 |1257 |01:45:03 ~-~-> 01:45:07 |you know, every minute of today, unless it's intervention, the market is
1259 |1258 |01:45:07 ~-~-> 01:45:13 |underneath AI, it's being delivered by script. So the opening range, that's why
1260 |1259 |01:45:13 ~-~-> 01:45:16 |I said there is no 15 minute opening range. Okay, I understand there's people
1261 |1260 |01:45:16 ~-~-> 01:45:19 |out there looking like a used Q tip, okay, putting a lot of money into used
1262 |1261 |01:45:19 ~-~-> 01:45:23 |cars. They'll say there's a 15 minute opening range gap. I mean, we're not gap
1263 |1262 |01:45:23 ~-~-> 01:45:27 |opening range. There's no 15 the algorithm has absolutely no respect for
1264 |1263 |01:45:27 ~-~-> 01:45:31 |the first 15 minutes. That's bullshit. I don't care what anybody says. But for
1265 |1264 |01:45:31 ~-~-> 01:45:37 |for the first 30 minutes and first 60 minutes, it's 30 minutes and 60 minutes,
1266 |1265 |01:45:37 ~-~-> 01:45:41 |and after that, you have everything you need for the daily range to be defined.
1267 |1266 |01:45:41 ~-~-> 01:45:45 |You can pick the high and the low the day after the first 60 minutes, first 30
1268 |1267 |01:45:45 ~-~-> 01:45:49 |minutes, based on how price is delivered. You can get the higher low of
1269 |1268 |01:45:49 ~-~-> 01:45:52 |the day based on that. But there's certain quirky little things that I'm
1270 |1269 |01:45:52 ~-~-> 01:45:56 |going to reveal that tell you when to use the first 30 minutes or versus the
1271 |1270 |01:45:56 ~-~-> 01:46:01 |first hour, to get the daily high and low within three ticks, but you being
1272 |1271 |01:46:01 ~-~-> 01:46:04 |able to do that on a steady diet of every day, that's not going to happen.
1273 |1272 |01:46:04 ~-~-> 01:46:07 |There's going to be a lot of factors that we're going to see that like today,
1274 |1273 |01:46:07 ~-~-> 01:46:10 |there's certain things that you're going to be met with in terms of high
1275 |1274 |01:46:10 ~-~-> 01:46:15 |probability versus low probability, high probability trying to trade the mid gap.
1276 |1275 |01:46:15 ~-~-> 01:46:19 |Yes. What happens if it wouldn't have done it today in the first 30 minutes,
1277 |1276 |01:46:19 ~-~-> 01:46:25 |but did it at like 11 o'clock. Okay, you would say, Okay, well, it did it again.
1278 |1277 |01:46:25 ~-~-> 01:46:29 |It just didn't do it in the first 30 minutes. Wonderful. But it's not all
1279 |1278 |01:46:29 ~-~-> 01:46:33 |that important, because it's a high resistance liquidity day, meaning that
1280 |1279 |01:46:33 ~-~-> 01:46:36 |it's going to be a lot of give and take back and forth. But it just so happens
1281 |1280 |01:46:36 ~-~-> 01:46:41 |that today, even a high resistance conditions, it trades to mid gap. So 70%
1282 |1281 |01:46:41 ~-~-> 01:46:46 |strike rate is still hitting, banging, just like that today, even in a complex
1283 |1282 |01:46:46 ~-~-> 01:46:53 |delivery day like it is today, the bias trading to the easiest low hanging fruit
1284 |1283 |01:46:53 ~-~-> 01:46:58 |objective for Caleb would be new week, opening gap high, but he doesn't need
1285 |1284 |01:46:58 ~-~-> 01:47:06 |that. Notice that he doesn't need that. So back to his entry. Back here, he sees
1286 |1285 |01:47:06 ~-~-> 01:47:10 |displacement off of a higher Time Frame array, which is the one minute city
1287 |1286 |01:47:10 ~-~-> 01:47:14 |that's that pink box up here. Then he goes into a lower time frame, and he
1288 |1287 |01:47:14 ~-~-> 01:47:17 |waits and sees, does price respect it? Look at the bodies. Are they respecting
1289 |1288 |01:47:17 ~-~-> 01:47:26 |it? Yes. Sends priceware lower, and then he gets his gap price trades back up
1290 |1289 |01:47:26 ~-~-> 01:47:29 |into it. He can enter into that gap. He has a little bit of heat here. But guess
1291 |1290 |01:47:29 ~-~-> 01:47:32 |what? You're going to have trades where it's going to have heat. That means
1292 |1291 |01:47:32 ~-~-> 01:47:35 |little bit of drawdown. It doesn't stop you out. It shouldn't cause you to bail
1293 |1292 |01:47:35 ~-~-> 01:47:39 |out of the trade. It just means that you got to go through a cup couple moments
1294 |1293 |01:47:39 ~-~-> 01:47:45 |of uncomfortable price action. You have to weather that. Okay, so it has a
1295 |1294 |01:47:45 ~-~-> 01:47:50 |little bit of heat in here. Remember, he's he's entering down here at the the
1296 |1295 |01:47:50 ~-~-> 01:47:55 |low of the gap. He's not allowed to do mid gap. He's not allowed to get the
1297 |1296 |01:47:55 ~-~-> 01:47:58 |high of the gap. He's not allowed to use any Mohawks, which would be entering on
1298 |1297 |01:47:58 ~-~-> 01:48:04 |a wicks above that gap. He has to enter as it trades one tick below, and that's
1299 |1298 |01:48:04 ~-~-> 01:48:08 |his entry. That would be here, on that candlestick right there. That's his
1300 |1299 |01:48:08 ~-~-> 01:48:18 |fill. So he sees initially what his favor aiming for that low. Think about
1301 |1300 |01:48:18 ~-~-> 01:48:25 |it. That's all he's looking for. It's in the direction of mid gap. It's in the
1302 |1301 |01:48:25 ~-~-> 01:48:32 |direction of new week, opening gap high. But because his skill set is so modest,
1303 |1302 |01:48:32 ~-~-> 01:48:38 |it's next to nothing right now, how does he grow in his confidence? How does he
1304 |1303 |01:48:38 ~-~-> 01:48:43 |stay motivated? Because it's real easy to be demotivated. It's real easy to
1305 |1304 |01:48:43 ~-~-> 01:48:46 |talk yourself out of doing this and wanting to jump into a new system or a
1306 |1305 |01:48:46 ~-~-> 01:48:51 |new guru or a new something, distracting yourself from the obvious, which is you
1307 |1306 |01:48:51 ~-~-> 01:48:56 |not doing what it's required to be consistent. You have to put effort in
1308 |1307 |01:48:56 ~-~-> 01:48:59 |anything. Whoever you're teaching, whoever's teaching you, rather if
1309 |1308 |01:48:59 ~-~-> 01:49:02 |they're not telling you it's going to take effort on your part. They're lying
1310 |1309 |01:49:02 ~-~-> 01:49:05 |to you, and when you discover that, you're going to feel stupid because you
1311 |1310 |01:49:05 ~-~-> 01:49:09 |probably paid them money and they didn't teach you shit. Here, I'm teaching you
1312 |1311 |01:49:09 ~-~-> 01:49:13 |how to do this correctly. If it's good enough for my kids, I promise you it's
1313 |1312 |01:49:13 ~-~-> 01:49:18 |good enough for you. So if he's aiming for this low for sell side, because it's
1314 |1313 |01:49:18 ~-~-> 01:49:22 |in the direction from the entry on this fair value gap. Aiming to get below that
1315 |1314 |01:49:22 ~-~-> 01:49:27 |low. He doesn't need the mid gap to be traded to. He doesn't need the new week
1316 |1315 |01:49:27 ~-~-> 01:49:32 |opening gap high to be traded to, to make his money, to make his meal ticket
1317 |1316 |01:49:32 ~-~-> 01:49:40 |for the day. But he has initial profits running for him, and they yank it from
1318 |1317 |01:49:40 ~-~-> 01:49:46 |him all the way back up and above his entry, but not to stop, which would be
1319 |1318 |01:49:46 ~-~-> 01:49:50 |in that little red box on the above that candlesticks high. This is
1320 |1319 |01:49:50 ~-~-> 01:49:55 |uncomfortable, but eventually he breaks that back down below it, and then he
1321 |1320 |01:49:55 ~-~-> 01:50:00 |sees it come back here. Trades back lower, back in here. And then. Finally
1322 |1321 |01:50:00 ~-~-> 01:50:07 |hits mid gap. Should Caleb or should you feel depression about that because it
1323 |1322 |01:50:07 ~-~-> 01:50:14 |hit, hit where you thought was going to go? No, just because you you exit once
1324 |1323 |01:50:14 ~-~-> 01:50:18 |it starts to break down and goes to your first low hanging fruit objective, which
1325 |1324 |01:50:18 ~-~-> 01:50:22 |will be below this low here. Remember, it's about making money consistently and
1326 |1325 |01:50:22 ~-~-> 01:50:28 |not losing more than you should. Focusing on a consistent routine, a
1327 |1326 |01:50:28 ~-~-> 01:50:33 |protocol, a process that yields you a very easy, low hanging fruit objective,
1328 |1327 |01:50:33 ~-~-> 01:50:39 |getting money, getting money, get it, go. It's very surgical strikes. It's hit
1329 |1328 |01:50:39 ~-~-> 01:50:43 |and run trading that's kind of like what I called it when I was on Merck Internet
1330 |1329 |01:50:43 ~-~-> 01:50:47 |Relay Chat back in the 90s, when I was running and hosting a sap channel at
1331 |1330 |01:50:47 ~-~-> 01:50:51 |1000 people in the room. And it's only because that's all that it would allow.
1332 |1331 |01:50:51 ~-~-> 01:50:55 |It wouldn't allow anything more than 1000 people at the time when I was using
1333 |1332 |01:50:55 ~-~-> 01:51:03 |it. So with that limitation, I had as many as I could in that room. And what I
1334 |1333 |01:51:03 ~-~-> 01:51:08 |taught was hit run straight strategies, where we would go in, get two and a half
1335 |1334 |01:51:08 ~-~-> 01:51:12 |to three handles in the s, p, out the door. We're done, simple as that. There
1336 |1335 |01:51:12 ~-~-> 01:51:16 |was no long winded ICT stuff like this video. Here it was, I want to get in,
1337 |1336 |01:51:16 ~-~-> 01:51:19 |get out. I want to get in, get out, because I was nervous to be in front of
1338 |1337 |01:51:19 ~-~-> 01:51:25 |people talking. I'm naturally an introvert. If we were talking like this
1339 |1338 |01:51:25 ~-~-> 01:51:29 |in front of a group of people, I'd be far less likely to have a conversation
1340 |1339 |01:51:29 ~-~-> 01:51:34 |like this, because I'm just introverted. I like to be quiet, but because I'm in
1341 |1340 |01:51:35 ~-~-> 01:51:39 |my office right now by myself, I'm talking to my children. In my mind, I'm
1342 |1341 |01:51:39 ~-~-> 01:51:43 |talking to them. So by having these surgical strikes, these hit and run
1343 |1342 |01:51:43 ~-~-> 01:51:47 |trading opportunities, where you're getting in at a logical level, framing
1344 |1343 |01:51:47 ~-~-> 01:51:51 |risk at a logical level, and aiming for a very easy objective in the right
1345 |1344 |01:51:51 ~-~-> 01:51:57 |direction, guess what this affords him over time doing this, it will teach him
1346 |1345 |01:51:57 ~-~-> 01:52:01 |how to hold on to the trade to get to half gap.
1347 |1346 |01:52:02 ~-~-> 01:52:07 |It'll teach him to hold on to the trade to get to first threshold on the new
1348 |1347 |01:52:07 ~-~-> 01:52:11 |week opening gaps or New Day opening gaps, high on the shorts or lows on the
1349 |1348 |01:52:11 ~-~-> 01:52:15 |longs, meaning if you're short, he's always going to use the highest level of
1350 |1349 |01:52:15 ~-~-> 01:52:19 |clustered new week opening gaps or New Day opening gaps level as his draw.
1351 |1350 |01:52:19 ~-~-> 01:52:23 |That's his target endeavor. Even trades down to it in this pass here, then comes
1352 |1351 |01:52:23 ~-~-> 01:52:27 |all the way back up and above its entry, and then it would have stopped the
1353 |1352 |01:52:27 ~-~-> 01:52:32 |amount there. See that that's high resistance conditions. You can be right
1354 |1353 |01:52:32 ~-~-> 01:52:36 |about the direction. You can see a trade start moving for you in profit, come
1355 |1354 |01:52:36 ~-~-> 01:52:40 |back up and save you from being stopped out, and eventually give you objective
1356 |1355 |01:52:40 ~-~-> 01:52:44 |to get out properly if you took a partial or you closed the trade. But
1357 |1356 |01:52:44 ~-~-> 01:52:47 |generally, if you have never been trained to look at the market like this,
1358 |1357 |01:52:47 ~-~-> 01:52:52 |in two camps, it's high resistance liquidity run conditions, that means
1359 |1358 |01:52:52 ~-~-> 01:52:55 |it's back and forth price action or low resistance liquidity run conditions,
1360 |1359 |01:52:55 ~-~-> 01:52:59 |where it's this one shot right to your target. Thank you very much. Wham Bam.
1361 |1360 |01:52:59 ~-~-> 01:53:03 |Thank you, ma'am. And out the door you go, it's one night stand trading, baby.
1362 |1361 |01:53:03 ~-~-> 01:53:07 |There's no guilt in it. There's no STDs, none of that stuff. It's simple, easy,
1363 |1362 |01:53:07 ~-~-> 01:53:13 |pleasurable trading. Get out the door and go, no guilt. There's a whole lot of
1364 |1363 |01:53:13 ~-~-> 01:53:18 |regret and guilt when you're trading in this it's like getting caught cheating
1365 |1364 |01:53:18 ~-~-> 01:53:21 |every time you go out the door, you're always worried about getting caught
1366 |1365 |01:53:21 ~-~-> 01:53:25 |doing something you shouldn't have been doing. That's the difference between
1367 |1366 |01:53:25 ~-~-> 01:53:29 |high resistance and low resistance. I'm teaching you son to learn how to read
1368 |1367 |01:53:29 ~-~-> 01:53:33 |price action. So that way you're trading and in engaging with low resistance,
1369 |1368 |01:53:33 ~-~-> 01:53:36 |that means you're not going to trade every day. If you haven't realized that
1370 |1369 |01:53:36 ~-~-> 01:53:40 |yet, for the folks that are listening to that means you're probably not going to
1371 |1370 |01:53:40 ~-~-> 01:53:44 |trade every day, and that's not a bad thing. That's not a bad thing. What
1372 |1371 |01:53:44 ~-~-> 01:53:47 |happens when you come to the realization and say, You know what? This is probably
1373 |1372 |01:53:47 ~-~-> 01:53:52 |going to take a whole lot more emphasis, and not emphasis, but attention, and
1374 |1373 |01:53:52 ~-~-> 01:53:57 |attention that I don't really want to spend when I know I can got another day
1375 |1374 |01:53:57 ~-~-> 01:54:01 |later in the week where it'll be a lot easier and low resistance. So I'll put
1376 |1375 |01:54:01 ~-~-> 01:54:05 |the risk on in those days, and I'll go, I'll go fishing, or I'll do something
1377 |1376 |01:54:05 ~-~-> 01:54:08 |else with my family members, or I'll just won't worry about it, and whatever
1378 |1377 |01:54:08 ~-~-> 01:54:13 |happens in the marketplace, I won't beat myself up about it. And then when you
1379 |1378 |01:54:13 ~-~-> 01:54:16 |come back and you see how, oh yeah, I could have took that trade. I could took
1380 |1379 |01:54:16 ~-~-> 01:54:20 |this trade, but it would have stopped me out, you know. And trailing stop losses
1381 |1380 |01:54:20 ~-~-> 01:54:26 |in high resistance liquidity run conditions is a death nail. You've seen
1382 |1381 |01:54:26 ~-~-> 01:54:31 |me managing my trades where sometimes I'll have the trade with the stop is
1383 |1382 |01:54:31 ~-~-> 01:54:35 |just covering costs. That means wherever I got in at it's covering the commission
1384 |1383 |01:54:35 ~-~-> 01:54:40 |cost fees, and maybe puts 100 bucks in my pocket so it pays me for my effort
1385 |1384 |01:54:40 ~-~-> 01:54:43 |and time. In worst case scenario, if I get stopped out, yeah, I made 100 bucks.
1386 |1385 |01:54:43 ~-~-> 01:54:48 |You know, I get pizza dinner for the kids, and there you go. But here you
1387 |1386 |01:54:48 ~-~-> 01:54:54 |don't want to trail your stop loss, because look at the price action. When
1388 |1387 |01:54:54 ~-~-> 01:54:57 |it's high resistance, that means it's likely to overlap the previous
1389 |1388 |01:54:57 ~-~-> 01:55:02 |candlesticks range. That's that's the. You see a simplest definition for high
1390 |1389 |01:55:02 ~-~-> 01:55:06 |resistance liquidity runs. That means it's going to spend a lot of time
1391 |1390 |01:55:06 ~-~-> 01:55:09 |overlapping in the previous candles range, whatever the highest high and the
1392 |1391 |01:55:09 ~-~-> 01:55:13 |lowest low for that previous candle is, expect that same overlap the next candle
1393 |1392 |01:55:13 ~-~-> 01:55:18 |back and forth over top of it. Next candle overlap back and forth over top
1394 |1393 |01:55:18 ~-~-> 01:55:22 |of next candle, back and forth over top of the previous candles range. I don't
1395 |1394 |01:55:22 ~-~-> 01:55:26 |want to be trading in those conditions. I don't know about you folks, I don't
1396 |1395 |01:55:26 ~-~-> 01:55:30 |like trading in these conditions. I have better things that I could be doing
1397 |1396 |01:55:30 ~-~-> 01:55:34 |instead of worrying about having to be precise in a market condition, that's
1398 |1397 |01:55:34 ~-~-> 01:55:40 |going to steal, rob you of precision, and it's going to beat you up by
1399 |1398 |01:55:40 ~-~-> 01:55:45 |retracements more times than you want to see happen. So my question to you in the
1400 |1399 |01:55:45 ~-~-> 01:55:48 |live stream audience that are listening or watching it later on, when it's
1401 |1400 |01:55:48 ~-~-> 01:55:53 |appropriate for you to do so, are you more inclined to want to be in an
1402 |1401 |01:55:53 ~-~-> 01:55:56 |environment like this, where you have to worry about if you ever move your stop
1403 |1402 |01:55:56 ~-~-> 01:56:00 |loss, you're probably going to get prematurely stopped out and never see
1404 |1403 |01:56:00 ~-~-> 01:56:06 |the targets trade to before getting stopped out. Or would you find yourself
1405 |1404 |01:56:06 ~-~-> 01:56:13 |more prone to seek opportunities where the market doesn't have so much of an
1406 |1405 |01:56:13 ~-~-> 01:56:17 |interest that's vested in coming back and stopping you out prematurely because
1407 |1406 |01:56:17 ~-~-> 01:56:22 |you're in a low resistance liquidity run condition, market where it just moves
1408 |1407 |01:56:22 ~-~-> 01:56:26 |real free and loose. It just goes right to target, like it's in a hurry and has
1409 |1408 |01:56:26 ~-~-> 01:56:29 |something to go and do something else. That's that. That's what you want to be
1410 |1409 |01:56:29 ~-~-> 01:56:33 |trading in. Caleb, that's the market conditions you want to trade in. And
1411 |1410 |01:56:33 ~-~-> 01:56:37 |they have very simplistic characteristics that it indicates before
1412 |1411 |01:56:37 ~-~-> 01:56:43 |the the market trading day starts. It shows you how it's going to look like
1413 |1412 |01:56:43 ~-~-> 01:56:47 |that before it does. And conversely, as I'm teaching here, and as I thought last
1414 |1413 |01:56:47 ~-~-> 01:56:53 |week, there are characteristics that overlap, where you can see these harder
1415 |1414 |01:56:53 ~-~-> 01:56:56 |conditions. I'm not saying it's impossible to trade, but it's harder for
1416 |1415 |01:56:56 ~-~-> 01:57:01 |a new trader to navigate in this because it's a whole lot of ebb and flow, back
1417 |1416 |01:57:01 ~-~-> 01:57:04 |and forth, price action that's going to come back and stop out any individual
1418 |1417 |01:57:04 ~-~-> 01:57:09 |that has a trail stop loss. Think about it. This is your entry area here, and
1419 |1418 |01:57:09 ~-~-> 01:57:13 |you have this displacement link. It creates a little high here, starts to
1420 |1419 |01:57:13 ~-~-> 01:57:16 |trade down here. You expect it to break that low and trade the mid gap right
1421 |1420 |01:57:17 ~-~-> 01:57:21 |based on ICT stuff. Well, now compound that equation with you have high
1422 |1421 |01:57:21 ~-~-> 01:57:24 |resistant liquidity ring conditions. Liquidity, growing conditions, it's
1423 |1422 |01:57:24 ~-~-> 01:57:28 |going to fail to go below that low. But go back for anyone that's trail stop
1424 |1423 |01:57:28 ~-~-> 01:57:34 |losses so that high, and it goes right into the fair value gap, meaning, what
1425 |1424 |01:57:34 ~-~-> 01:57:39 |that's a fair value gap that's reclaimed. So when do, when do reclaimed
1426 |1425 |01:57:39 ~-~-> 01:57:46 |fair value gaps most likely form in high resistance. Look what he runs. This son
1427 |1426 |01:57:46 ~-~-> 01:57:50 |of a bitch always hides that stuff and that the latter parts of these long
1428 |1427 |01:57:50 ~-~-> 01:57:54 |discussions. You're damn right. I do, because five minute guys that come in
1429 |1428 |01:57:54 ~-~-> 01:57:57 |here and they want to look for these little things that go in their little
1430 |1429 |01:57:57 ~-~-> 01:58:01 |mentorship bullshit, or put stuff in their little shorts on YouTube, they're
1431 |1430 |01:58:01 ~-~-> 01:58:04 |never, even though they compare it, when I say they're never going to be able to
1432 |1431 |01:58:04 ~-~-> 01:58:08 |apply it, because they're looking for shortcuts, and shortcuts just means that
1433 |1432 |01:58:08 ~-~-> 01:58:11 |you're getting to the front of the line and blowing out and losing your account.
1434 |1433 |01:58:11 ~-~-> 01:58:15 |That's what all it is. You're making a fast way to get to no profitability. The
1435 |1434 |01:58:16 ~-~-> 01:58:19 |folks that get in here, they roll their sleeves up. They want to learn every
1436 |1435 |01:58:19 ~-~-> 01:58:23 |little detail, every intricate nuance that I'm trying to share. It's to make
1437 |1436 |01:58:23 ~-~-> 01:58:28 |my son better equipped than all of you, even my students that are here
1438 |1437 |01:58:28 ~-~-> 01:58:34 |listening. My intentions are to keep my children better than you, but they have
1439 |1438 |01:58:34 ~-~-> 01:58:38 |to start here too, and this is all useful information. If these are the
1440 |1439 |01:58:38 ~-~-> 01:58:42 |lessons that you only learn from me, you're light years ahead everybody else,
1441 |1440 |01:58:42 ~-~-> 01:58:46 |because you're learning to read price action in a manner that no one else sees
1442 |1441 |01:58:46 ~-~-> 01:58:50 |it like no other school of thought teaches this way, no one else teaches
1443 |1442 |01:58:50 ~-~-> 01:58:54 |this way. But by defining things in terms of low resistance and high
1444 |1443 |01:58:54 ~-~-> 01:58:59 |resistance liquidity run conditions, it affords you a different approach based
1445 |1444 |01:58:59 ~-~-> 01:59:05 |on whatever day or model or profile you're you're operating in certain PD
1446 |1445 |01:59:05 ~-~-> 01:59:12 |arrays are more prone to exist and form in one profile versus another. Reclaimed
1447 |1446 |01:59:13 ~-~-> 01:59:18 |means what it's revisiting it. Do you expect that to happen in a resistance
1448 |1447 |01:59:18 ~-~-> 01:59:23 |liquidity run condition? Hell no. Elvis has left the building goodbye. Right to
1449 |1448 |01:59:23 ~-~-> 01:59:28 |target. That's what I'm teaching my kids to focus on. That's what I taught paid
1450 |1449 |01:59:28 ~-~-> 01:59:33 |mentorship students to do, but they didn't want to sit through these types
1451 |1450 |01:59:33 ~-~-> 01:59:37 |of lectures like this. This is how I taught look at the look at the lessons
1452 |1451 |01:59:37 ~-~-> 01:59:43 |that I was teaching in the first couple months conceptual, conceptual,
1453 |1452 |01:59:43 ~-~-> 01:59:47 |conceptual. Man, just ever going to get to trading, you got to learn a lot of
1454 |1453 |01:59:47 ~-~-> 01:59:54 |stuff. Man, there's a lot of stuff that is a foundational necessity to be able
1455 |1454 |01:59:54 ~-~-> 01:59:58 |to different, differentiate easy trading conditions versus a little bit more
1456 |1455 |01:59:58 ~-~-> 02:00:04 |complex. You. And the the aggressive form of what this is, is seek and
1457 |1456 |02:00:04 ~-~-> 02:00:08 |destroy, which it could have created that today. But this is not seek and
1458 |1457 |02:00:08 ~-~-> 02:00:14 |destroy. This is this high resistance liquidity run conditions. So it comes
1459 |1458 |02:00:14 ~-~-> 02:00:18 |back and reclaimed order blocks, reclaimed fair value gaps, reclaimed
1460 |1459 |02:00:18 ~-~-> 02:00:25 |everything, any PD array that uses it characteristic twice. It's going to be
1461 |1460 |02:00:25 ~-~-> 02:00:32 |synonymous in high resistance, liquidity run conditions, reclaimed order blocks,
1462 |1461 |02:00:32 ~-~-> 02:00:36 |reclaimed fair value gaps, in other words, two times. Touching those
1463 |1462 |02:00:36 ~-~-> 02:00:40 |generally, are going to be part of a market profile like we have here, where
1464 |1463 |02:00:40 ~-~-> 02:00:45 |it's back and forth, high resistance, but eventually, usually when you're worn
1465 |1464 |02:00:45 ~-~-> 02:00:48 |down and you're not in a trade anymore, then later in the day, it'll go down and
1466 |1465 |02:00:48 ~-~-> 02:00:53 |touch the objectives the new week, opening gap high right here. The first
1467 |1466 |02:00:53 ~-~-> 02:00:58 |time it gets to it here is at 1143 but look at all this price actions sitting
1468 |1467 |02:00:58 ~-~-> 02:01:03 |here sideways that'll wear you down. If you're expecting low resistance, real
1469 |1468 |02:01:03 ~-~-> 02:01:08 |quick, fast, sudden runs, no, you're going to lose your mind. You're going to
1470 |1469 |02:01:08 ~-~-> 02:01:11 |want to trail, stop losses. And it's going to just, it's going to stop you up
1471 |1470 |02:01:11 ~-~-> 02:01:14 |prematurely, and then you're going to wrestle about why you couldn't hold on
1472 |1471 |02:01:14 ~-~-> 02:01:17 |to the trade there, or why did it you see the comments ICT? Why didn't it go
1473 |1472 |02:01:17 ~-~-> 02:01:22 |down and hit the new week opening gap right there? Why aren't you taking notes
1474 |1473 |02:01:22 ~-~-> 02:01:26 |when I'm teaching these things? This is the first time I taught it. It's
1475 |1474 |02:01:26 ~-~-> 02:01:32 |throughout the entire Compendium on my YouTube channel. A lot of things that
1476 |1475 |02:01:32 ~-~-> 02:01:36 |you ask answers for require understanding other things and other
1477 |1476 |02:01:36 ~-~-> 02:01:38 |facets to the language I've created,
1478 |1477 |02:01:40 ~-~-> 02:01:45 |and by having that comprehensive view of what it is I teach, it's easy. Once you
1479 |1478 |02:01:45 ~-~-> 02:01:50 |have a familiarity of a lot of the things I teach, broad brushed approach,
1480 |1479 |02:01:51 ~-~-> 02:01:55 |then things that you think are very, very complex and difficult to understand
1481 |1480 |02:01:55 ~-~-> 02:01:59 |suddenly become very clear to understand. Oh, now I understand why
1482 |1481 |02:01:59 ~-~-> 02:02:03 |price didn't take that relative equal low there yet, why did it leave these
1483 |1482 |02:02:03 ~-~-> 02:02:05 |relative equal highs, and why didn't you wait for to shoot up there? Because
1484 |1483 |02:02:05 ~-~-> 02:02:09 |there's conditions in the marketplace that are going to promote a different
1485 |1484 |02:02:10 ~-~-> 02:02:16 |approach to taking trades in that specific environment. And it's defined
1486 |1485 |02:02:16 ~-~-> 02:02:21 |by high resistance or low resistance, and it's very easy to notice it, even if
1487 |1486 |02:02:21 ~-~-> 02:02:25 |you don't expect it, but you start seeing signatures in price action, how
1488 |1487 |02:02:25 ~-~-> 02:02:29 |it's behaving, where every individual candlestick is overlapping the previous
1489 |1488 |02:02:29 ~-~-> 02:02:35 |candlesticks range by the majority. That is indicating the the clearest, most
1490 |1489 |02:02:35 ~-~-> 02:02:41 |visual, clearest, most visual representation of a high resistance
1491 |1490 |02:02:41 ~-~-> 02:02:44 |liquidity run condition is, every subsequent candle is sharing the
1492 |1491 |02:02:44 ~-~-> 02:02:51 |previous candles range. That's a very simple definition, isn't it? Versus a
1493 |1492 |02:02:51 ~-~-> 02:02:56 |low resistance liquidity run condition is the candlesticks are a lot separate,
1494 |1493 |02:02:56 ~-~-> 02:02:59 |a lot more separated between their highs and lows, and they're not sharing much
1495 |1494 |02:02:59 ~-~-> 02:03:03 |of the same range of the previous candle. It is a lot of big candles, and
1496 |1495 |02:03:03 ~-~-> 02:03:06 |that's exactly what you want. You don't want to be in here waiting around
1497 |1496 |02:03:06 ~-~-> 02:03:09 |forever for your target to get met. You don't want to be waiting for the spread
1498 |1497 |02:03:09 ~-~-> 02:03:15 |to overcome and and move into a position of unrealized profit and holding on to
1499 |1498 |02:03:15 ~-~-> 02:03:18 |that throughout the entirety of your trade. I don't want to be in trades
1500 |1499 |02:03:18 ~-~-> 02:03:21 |where I have to wait for my trade to come out of spread or initial drawdown.
1501 |1500 |02:03:21 ~-~-> 02:03:26 |I don't want to be in trades like that. Look at my trades. When I share my
1502 |1501 |02:03:26 ~-~-> 02:03:29 |examples to you, they're always showing you what, what are the classic
1503 |1502 |02:03:29 ~-~-> 02:03:34 |characteristics? Number one, it's quickly running in my favor. My stop
1504 |1503 |02:03:34 ~-~-> 02:03:37 |losses are never exaggerated. They're never taking on more risk than it's
1505 |1504 |02:03:37 ~-~-> 02:03:43 |required. And they're quickly moving in my direction, and I'm quickly able to
1506 |1505 |02:03:43 ~-~-> 02:03:48 |take off a partial or cover my costs, and I sit comfortably. And there it is.
1507 |1506 |02:03:48 ~-~-> 02:03:55 |And I manage my stop I cannot do. Listen to me now. I cannot do the mister
1508 |1507 |02:03:55 ~-~-> 02:04:00 |wizards world of stop loss, placement in high resistance liquidity run
1509 |1508 |02:04:00 ~-~-> 02:04:04 |conditions, not to the same degree that I do with low resistance liquidity run
1510 |1509 |02:04:04 ~-~-> 02:04:10 |conditions, because high resistance is already indicating that there's probably
1511 |1510 |02:04:10 ~-~-> 02:04:14 |going to be an opportunity sometime in that day or that session, that manual
1512 |1511 |02:04:14 ~-~-> 02:04:18 |intervention will come in. That means the real market makers, not the dealers
1513 |1512 |02:04:18 ~-~-> 02:04:22 |that get out there and try to stay Delta neutral. Okay, that is not a market
1514 |1513 |02:04:22 ~-~-> 02:04:26 |maker. I just listen to another Yahoo that has a YouTube channel. He's an
1515 |1514 |02:04:26 ~-~-> 02:04:31 |Italian fellow. Yeah, he didn't read somebody supposedly that news ins and
1516 |1515 |02:04:31 ~-~-> 02:04:34 |outs of the marketplace and everything that came out of that man's mouth,
1517 |1516 |02:04:34 ~-~-> 02:04:38 |absolute worst. So when you're talking about market makers, you don't even know
1518 |1517 |02:04:38 ~-~-> 02:04:41 |who the hell you're talking about. You don't even know them. Okay? They're not
1519 |1518 |02:04:41 ~-~-> 02:04:46 |dealers. Dealers are trying to be delta neutral. That's what their job is. And
1520 |1519 |02:04:46 ~-~-> 02:04:51 |when there's a lot of movement and displacement and price action that is
1521 |1520 |02:04:51 ~-~-> 02:04:56 |adverse for their business model, that is not what I'm talking about. A market
1522 |1521 |02:04:56 ~-~-> 02:05:06 |maker is the person, the entity, the. A facilitator of price. Where it
1523 |1522 |02:05:06 ~-~-> 02:05:10 |originates from. It's not the buying and sellers that's creating the origin of
1524 |1523 |02:05:10 ~-~-> 02:05:18 |price. Who, who dictates the first print opening bell? You don't, I don't. That's
1525 |1524 |02:05:18 ~-~-> 02:05:24 |never us. That's never us. Where do we get the opening price on Sunday? That's
1526 |1525 |02:05:24 ~-~-> 02:05:30 |never us. That is never going to be anybody at all. That retail control. We
1527 |1526 |02:05:30 ~-~-> 02:05:33 |can't control that, but that price is already determined before already
1528 |1527 |02:05:33 ~-~-> 02:05:37 |happened by Friday's close it already they already know where they're going to
1529 |1528 |02:05:37 ~-~-> 02:05:42 |open it up. And that probably is unsettling to you. That means it's
1530 |1529 |02:05:42 ~-~-> 02:05:46 |rigged, and you should be glad that it's rigged. You should not be upset that
1531 |1530 |02:05:46 ~-~-> 02:05:50 |it's rigged, because if it wasn't rigged, none of us would make money.
1532 |1531 |02:05:51 ~-~-> 02:05:55 |We've had the same odds that the lottery players have, the same odds that casino
1533 |1532 |02:05:55 ~-~-> 02:05:59 |people that use the slot machines, usually, I can't remember what the name
1534 |1533 |02:05:59 ~-~-> 02:06:02 |of those things are, but the slot machines have really no skill set
1535 |1534 |02:06:02 ~-~-> 02:06:07 |required to win them, which means there's no edge. There's no way, except
1536 |1535 |02:06:07 ~-~-> 02:06:10 |for cruise through the aisles and wait for somebody's been sitting there for a
1537 |1536 |02:06:10 ~-~-> 02:06:14 |long time to get up from that machine. And then you go in and you put more
1538 |1537 |02:06:14 ~-~-> 02:06:18 |money in it, and it pays out on ratio. It takes in so much before it pays out.
1539 |1538 |02:06:19 ~-~-> 02:06:23 |It's rigged, but you don't know how much has been paid in before that will pay
1540 |1539 |02:06:23 ~-~-> 02:06:30 |out. So what I do is I teach you how to look at how it's rigged. Look for those
1541 |1540 |02:06:30 ~-~-> 02:06:35 |moments where everything is indicating there's so many things that it's going
1542 |1541 |02:06:35 ~-~-> 02:06:41 |to move one sided at this specific time of the day, very important, and it's
1543 |1542 |02:06:41 ~-~-> 02:06:48 |less likely to do the opposite of that. And if you can do those things when it's
1544 |1543 |02:06:48 ~-~-> 02:06:51 |not high resistance liquidity run conditions, that means there is a high
1545 |1544 |02:06:51 ~-~-> 02:06:55 |impact or medium impact news driver in that trading session. So that means
1546 |1545 |02:06:55 ~-~-> 02:06:58 |you're going to have some kind of manipulation, which is what we want,
1547 |1546 |02:06:58 ~-~-> 02:07:02 |because we want to see them use that smoke screen to get people that don't
1548 |1547 |02:07:02 ~-~-> 02:07:06 |know what they're doing on the wrong side, and when they see those
1549 |1548 |02:07:06 ~-~-> 02:07:11 |individuals come dog piling in, that sentiment shift, because social media
1550 |1549 |02:07:11 ~-~-> 02:07:15 |being what it is, what is the first thing you want to do when you put a
1551 |1550 |02:07:15 ~-~-> 02:07:19 |trade on and you start seeing a little bit of profit already, you want to go
1552 |1551 |02:07:19 ~-~-> 02:07:22 |and show everybody you want to send me a picture of it. You want to send somebody
1553 |1552 |02:07:22 ~-~-> 02:07:25 |else. I want somebody else on Twitter, somebody else on whatever the other
1554 |1553 |02:07:26 ~-~-> 02:07:31 |social media mediums that you use. I'm in this trade here. You didn't say
1555 |1554 |02:07:31 ~-~-> 02:07:34 |you're going to take that trade, but now, because it's in slight profit and
1556 |1555 |02:07:34 ~-~-> 02:07:38 |you have a stop loss protecting against you. Now you want to talk about it, and
1557 |1556 |02:07:38 ~-~-> 02:07:44 |you want to see other people pat you on the back, congratulating you that that
1558 |1557 |02:07:44 ~-~-> 02:07:49 |is proof of the sentiment ideas on teaching. So when the Judas twin takes
1559 |1558 |02:07:49 ~-~-> 02:07:53 |effect, and when the market's primarily, primarily, rather bearish, and you see a
1560 |1559 |02:07:53 ~-~-> 02:07:59 |little bit of a run higher, retail will chase that and think it's going up, or
1561 |1560 |02:07:59 ~-~-> 02:08:01 |they'll put a breakout order in. If it goes a little bit higher, then they'll
1562 |1561 |02:08:01 ~-~-> 02:08:06 |say, Okay, I'm going to buy that and stick with it. And think it's going to
1563 |1562 |02:08:06 ~-~-> 02:08:14 |take me into profit. That sentiment shift is what is kind of like that line
1564 |1563 |02:08:14 ~-~-> 02:08:18 |in the sand between those people that are impulsive versus the people that
1565 |1564 |02:08:18 ~-~-> 02:08:22 |know what they're looking for. And by understanding that that medium impact or
1566 |1565 |02:08:22 ~-~-> 02:08:28 |high impact news driver being in 830 or sometime inside of the hour first hour
1567 |1566 |02:08:28 ~-~-> 02:08:35 |trading, that is essential. That's essential for low resistance liquidity
1568 |1567 |02:08:35 ~-~-> 02:08:41 |run conditions. So having a medium impact or high impact news driver is
1569 |1568 |02:08:41 ~-~-> 02:08:46 |synonymous with low resistance liquidity run. That does not mean very important
1570 |1569 |02:08:46 ~-~-> 02:08:51 |fact here, okay, it does not mean, simply because you have a medium impact
1571 |1570 |02:08:51 ~-~-> 02:08:54 |or high impact news driver or event in the calendar that you're going to have a
1572 |1571 |02:08:54 ~-~-> 02:08:58 |low resistance liquidity run condition. It just means that that's the climate
1573 |1572 |02:08:58 ~-~-> 02:09:03 |that they exist in more than any other. There's some kind of manipulation that's
1574 |1573 |02:09:03 ~-~-> 02:09:07 |going to be used around these reports. And if you don't have those things on
1575 |1574 |02:09:07 ~-~-> 02:09:11 |your economic calendar, then the likelihood of you having a high
1576 |1575 |02:09:11 ~-~-> 02:09:16 |resistance liquidity run, it's more likely that's going to happen because
1577 |1576 |02:09:17 ~-~-> 02:09:21 |there's no news to manipulate. But when there is news, that means there's going
1578 |1577 |02:09:21 ~-~-> 02:09:24 |to be manipulation. That means they're going to catch people off side. That
1579 |1578 |02:09:24 ~-~-> 02:09:27 |means they're going to trick people and put them in the wrong side of the
1580 |1579 |02:09:27 ~-~-> 02:09:30 |marketplace, and if they get put into the wrong side, think about it. Why
1581 |1580 |02:09:30 ~-~-> 02:09:35 |would this logically be even occurring? Why would there be low resistance
1582 |1581 |02:09:35 ~-~-> 02:09:38 |liquidity run conditions when there's high impact or medium impact news?
1583 |1582 |02:09:38 ~-~-> 02:09:41 |Because they're going to put people on the wrong side of the marketplace at the
1584 |1583 |02:09:41 ~-~-> 02:09:44 |most inopportune time for them. When they're going against them, they're
1585 |1584 |02:09:44 ~-~-> 02:09:47 |going to be selling to them when they're buying. They're going to be buying when
1586 |1585 |02:09:47 ~-~-> 02:09:51 |they're selling to you know, when the retail is selling it, they're buying it.
1587 |1586 |02:09:51 ~-~-> 02:09:54 |They're going the other side of it. They're being Counterparty. And once
1588 |1587 |02:09:54 ~-~-> 02:09:57 |they have established the session high or low in the first 30 minutes of
1589 |1588 |02:09:57 ~-~-> 02:10:02 |trading, are they going to. Just slowly move it away from them and allow them to
1590 |1589 |02:10:02 ~-~-> 02:10:05 |think about what they're think about what they're doing, and say, Well, you
1591 |1590 |02:10:05 ~-~-> 02:10:09 |know, let's, let's think, do I want to hold them as trade and losing money
1592 |1591 |02:10:09 ~-~-> 02:10:12 |consistently? And no, they don't want to have any time for them to get out and
1593 |1592 |02:10:12 ~-~-> 02:10:16 |take their orders out of the marketplace. So that's why medium event
1594 |1593 |02:10:16 ~-~-> 02:10:21 |or high impact news drivers are indicative their characteristics of low
1595 |1594 |02:10:21 ~-~-> 02:10:26 |resistance liquidity runs, because the whole mechanism of the price engine is
1596 |1595 |02:10:26 ~-~-> 02:10:30 |it puts people in on the wrong side during or shortly after these impact
1597 |1596 |02:10:30 ~-~-> 02:10:34 |drivers on the economic calendar, and they are not going to afford them the
1598 |1597 |02:10:34 ~-~-> 02:10:37 |opportunity to close their trade, because that's why the market moves
1599 |1598 |02:10:37 ~-~-> 02:10:42 |quick, speed and magnitude, speed and distance. These are the little
1600 |1599 |02:10:42 ~-~-> 02:10:46 |signatures I type out when I'm doing my recordings, because I expect these
1601 |1600 |02:10:46 ~-~-> 02:10:49 |things to happen. Because now retail is trapped, and they're not going to let
1602 |1601 |02:10:49 ~-~-> 02:10:54 |price move slowly down. And you think that everybody's like, okay, we're all
1603 |1602 |02:10:54 ~-~-> 02:10:59 |going to we're all going to collectively decide to sell short real fast, real
1604 |1603 |02:10:59 ~-~-> 02:11:04 |real abruptly, to cause the market to drop fast, so that way those traders
1605 |1604 |02:11:04 ~-~-> 02:11:07 |can't get out. No one's doing that. That's not what's going on. The price
1606 |1605 |02:11:07 ~-~-> 02:11:11 |engine falls out of bed precipitously when it's bearish and it's done its job
1607 |1606 |02:11:11 ~-~-> 02:11:15 |of putting traders on the wrong side by a Judah swing trading higher, creating
1608 |1607 |02:11:15 ~-~-> 02:11:18 |the morning session high, which could very well be the high of the day.
1609 |1608 |02:11:19 ~-~-> 02:11:24 |It drops aggressively fast, and if you're on the right side of the
1610 |1609 |02:11:24 ~-~-> 02:11:29 |marketplace, it's fun, but if you're on the wrong side, it's dangerous. It's,
1611 |1610 |02:11:29 ~-~-> 02:11:34 |it's, it's devastating. It's, it's, it's morally deflating. It's, it's, it's
1612 |1611 |02:11:34 ~-~-> 02:11:40 |crushing, because it's like, wow, what just happened? And you're proving that
1613 |1612 |02:11:40 ~-~-> 02:11:43 |you don't know how the markets work. If you're asking, What just happened, or
1614 |1613 |02:11:43 ~-~-> 02:11:47 |how did that happen, you need to stop trading with real money and learn how to
1615 |1614 |02:11:47 ~-~-> 02:11:51 |trade. Take some time to spend with the lectures I'm teaching you, because I'm
1616 |1615 |02:11:51 ~-~-> 02:11:54 |literally giving you the language of the marketplace, teaching you how to read
1617 |1616 |02:11:54 ~-~-> 02:11:58 |the life blood, which is liquidity, and the mechanism of delivery, which is
1618 |1617 |02:11:58 ~-~-> 02:12:02 |time. All these things. Have to agree. If you have that and you have an
1619 |1618 |02:12:02 ~-~-> 02:12:06 |economic calendar has a medium impact or high impact news driver, you have the
1620 |1619 |02:12:06 ~-~-> 02:12:10 |recipe for low resistance, liquidity run conditions. That means solid days
1621 |1620 |02:12:10 ~-~-> 02:12:15 |trading, easy trades, easy, easy, fast money. That's the stuff that you're
1622 |1621 |02:12:15 ~-~-> 02:12:20 |supposed to be looking for, but there isn't an everyday supply of that. So do
1623 |1622 |02:12:20 ~-~-> 02:12:24 |you just don't do anything with price? No, in the beginning you gotta. You have
1624 |1623 |02:12:24 ~-~-> 02:12:30 |to learn a lot. So engage study it. You learn more about hard days like this
1625 |1624 |02:12:30 ~-~-> 02:12:33 |than you do with the easy days. The easy days, the only thing that teaches you is
1626 |1625 |02:12:33 ~-~-> 02:12:38 |to trade with more leverage. Trade. I wish I would have traded with a bigger
1627 |1626 |02:12:38 ~-~-> 02:12:41 |position. That's, that's, that's the only thing it's going to teach you until
1628 |1627 |02:12:41 ~-~-> 02:12:45 |you've learned these lessons here, like I've talked about today, it keeps you
1629 |1628 |02:12:45 ~-~-> 02:12:50 |holding a sober minded perspective over trading. It puts a filter, a leash, if
1630 |1629 |02:12:50 ~-~-> 02:12:55 |you will. It puts the animal inside you in a cage, so that way, you don't go out
1631 |1630 |02:12:55 ~-~-> 02:12:59 |there recklessly do things in conditions like this, which obviously has
1632 |1631 |02:12:59 ~-~-> 02:13:04 |opportunities to trade in, but try to understand, from my perspective, as a
1633 |1632 |02:13:04 ~-~-> 02:13:10 |responsible educator, I am aware that not everyone's going to have the
1634 |1633 |02:13:10 ~-~-> 02:13:15 |aptitude that all of you have at the end that are profitable. Some of you are
1635 |1634 |02:13:15 ~-~-> 02:13:18 |going to start out with well meaning intentions, that you are going to stick
1636 |1635 |02:13:18 ~-~-> 02:13:20 |with this no matter what come hell or high water. You're going to figure it
1637 |1636 |02:13:20 ~-~-> 02:13:24 |out until you get to that day where you just can't do it anymore. And it's going
1638 |1637 |02:13:24 ~-~-> 02:13:28 |to be, for some of you, that's, that's the reality. You're not going to be a
1639 |1638 |02:13:28 ~-~-> 02:13:30 |trader. And I don't mean that to be deflating, I don't mean that to be
1640 |1639 |02:13:30 ~-~-> 02:13:34 |discouraging, but let's just be practical. You know, people that you've
1641 |1640 |02:13:34 ~-~-> 02:13:38 |seen on social media, they've been talking the same nonsense, and they
1642 |1641 |02:13:38 ~-~-> 02:13:42 |don't have any profitability, they're this negative. They're never going to be
1643 |1642 |02:13:42 ~-~-> 02:13:44 |a trader. They don't have the wherewithal, they don't have the
1644 |1643 |02:13:44 ~-~-> 02:13:50 |discipline, they don't have the desire to change who they are. But if you have
1645 |1644 |02:13:50 ~-~-> 02:13:54 |that passion to stay, I'm going to be in here. I'm going to stick with it. I'm
1646 |1645 |02:13:54 ~-~-> 02:13:59 |going to follow the rules, and I know it's going to be hard, but I see the
1647 |1646 |02:13:59 ~-~-> 02:14:03 |science behind it. I just have to get accustomed to looking for these
1648 |1647 |02:14:03 ~-~-> 02:14:07 |characteristics and study them. Get a backlog of how it worked in the past
1649 |1648 |02:14:08 ~-~-> 02:14:13 |real time, studying it forward. And then you'll see your model. And then when you
1650 |1649 |02:14:13 ~-~-> 02:14:17 |operate in them, and you use these low hanging fruit objectives, where all
1651 |1650 |02:14:17 ~-~-> 02:14:21 |you're doing is looking for a cookie cutter, $200 a day, $100 day. $150 a
1652 |1651 |02:14:21 ~-~-> 02:14:27 |day, $250 $50 a day, $250 a day. I don't think someone that's new. You're
1653 |1652 |02:14:27 ~-~-> 02:14:31 |probably asking, why'd you say $250 because I don't think anyone that's new
1654 |1653 |02:14:31 ~-~-> 02:14:35 |should have anything more than 250 bucks. In fact, if I was being honest
1655 |1654 |02:14:35 ~-~-> 02:14:40 |with you, I would say anywhere between 102 100, but 250 anything more net as a
1656 |1655 |02:14:40 ~-~-> 02:14:45 |beginning trader that's trying to formulate a track record of consistently
1657 |1656 |02:14:45 ~-~-> 02:14:49 |profitable, consistently finding something that's easy to get out of the
1658 |1657 |02:14:49 ~-~-> 02:14:53 |marketplace and not requiring a great deal of precision, not a lot a whole lot
1659 |1658 |02:14:53 ~-~-> 02:14:57 |of ICT acrobatics, not a lot of moving parts, very simple surgical strikes go
1660 |1659 |02:14:57 ~-~-> 02:15:01 |in, boom, boom, boom, done. Get your money and leave. Eve, don't feel
1661 |1660 |02:15:01 ~-~-> 02:15:06 |impulsive about going back in because it moves even more even if I put something
1662 |1661 |02:15:06 ~-~-> 02:15:10 |out there on the internet, if I say something, if you are affected and
1663 |1662 |02:15:10 ~-~-> 02:15:15 |influenced by anything I or anyone else says, You are not the student that I'm
1664 |1663 |02:15:15 ~-~-> 02:15:22 |aiming you to be. I'm trying to put you in the right direction and allowing the
1665 |1664 |02:15:22 ~-~-> 02:15:25 |natural trajectory of you following the procedures and processes I'm providing
1666 |1665 |02:15:25 ~-~-> 02:15:30 |for you for free. It's your job to stick to them, so that way you can see the
1667 |1666 |02:15:30 ~-~-> 02:15:35 |benefit of doing those things. But if you are influenced by anything that I
1668 |1667 |02:15:35 ~-~-> 02:15:42 |say in a live stream, you have not graduated to a degree where, if you know
1669 |1668 |02:15:42 ~-~-> 02:15:49 |your model, it doesn't matter what I say. If you know your model, it doesn't
1670 |1669 |02:15:49 ~-~-> 02:15:53 |matter what anybody else is saying. It doesn't matter what they criticize about
1671 |1670 |02:15:53 ~-~-> 02:15:57 |you. They don't it doesn't matter. None of these things matter. As far as I'm
1672 |1671 |02:15:57 ~-~-> 02:16:00 |concerned, none of your opinion about anything I talk about is important to
1673 |1672 |02:16:01 ~-~-> 02:16:05 |me. It has no bearing on the outcome of whatever I do. None you can't influence
1674 |1673 |02:16:05 ~-~-> 02:16:13 |me. I follow nobody on social media. No one has any influence over me. So I want
1675 |1674 |02:16:13 ~-~-> 02:16:16 |you to understand that I hold my position of an influencer and mentor and
1676 |1675 |02:16:16 ~-~-> 02:16:23 |teacher with a great deal of respect, because I know that if I say certain
1677 |1676 |02:16:23 ~-~-> 02:16:31 |things, it will cause the weaker or newer students to do certain things to
1678 |1677 |02:16:31 ~-~-> 02:16:36 |either try to emulate me or think that I have to have that happen in them as a
1679 |1678 |02:16:36 ~-~-> 02:16:40 |student before they're proving themselves worthy or part of the
1680 |1679 |02:16:40 ~-~-> 02:16:46 |community, or whatever, on Twitter or x, that's my playground. I say a lot of
1681 |1680 |02:16:46 ~-~-> 02:16:49 |stuff. I stir up a lot of trouble because I this, and I enjoy it. That's
1682 |1681 |02:16:49 ~-~-> 02:16:55 |just, that's, it's my it's my outlet. I vent there. I love pulling the strings
1683 |1682 |02:16:55 ~-~-> 02:16:58 |of other people, and I love reading their bullshit, because they think they
1684 |1683 |02:16:58 ~-~-> 02:17:03 |have an, you know, an impact on me. They don't. It's a running joke, but in the
1685 |1684 |02:17:03 ~-~-> 02:17:10 |lectures, I hold my position as an educator, as a mentor, to a degree that
1686 |1685 |02:17:10 ~-~-> 02:17:15 |nobody else does. Because I want you to understand that I am aware of the risks
1687 |1686 |02:17:15 ~-~-> 02:17:18 |in these markets. I'm aware that the risks that you're going to take, that
1688 |1687 |02:17:18 ~-~-> 02:17:21 |you don't think you're going to do in the beginning, but you will. And I'm
1689 |1688 |02:17:21 ~-~-> 02:17:24 |trying to be a voice of reason for my kids, so that way they don't do those
1690 |1689 |02:17:24 ~-~-> 02:17:28 |things, and you have the benefit of hearing that. And I justify why I say
1691 |1690 |02:17:28 ~-~-> 02:17:35 |these things with rules and processes and procedures that will yield you the
1692 |1691 |02:17:35 ~-~-> 02:17:42 |protection if you allow that, and if you stick to it, you won't over trade, you
1693 |1692 |02:17:42 ~-~-> 02:17:45 |won't over leverage, you won't demand more from the market than it's most
1694 |1693 |02:17:45 ~-~-> 02:17:49 |likely going to do for that given session or day. And you won't be
1695 |1694 |02:17:49 ~-~-> 02:17:52 |surprised by any of this stuff, either. How many times has the market done
1696 |1695 |02:17:52 ~-~-> 02:17:57 |something you're like, Wow, where did that come from? Or, if you feel so
1697 |1696 |02:17:57 ~-~-> 02:18:01 |inclined, man, this is really trash market conditions and you want to get
1698 |1697 |02:18:01 ~-~-> 02:18:06 |online bitch. That means you had no expectation it's going to be like that.
1699 |1698 |02:18:06 ~-~-> 02:18:10 |That means you should never be trading with real money if you're surprised,
1700 |1699 |02:18:11 ~-~-> 02:18:15 |okay, I'm gonna say this on closing it if you're surprised by price action and
1701 |1700 |02:18:15 ~-~-> 02:18:20 |you're completely taken off guard, unless it's something like geopolitical
1702 |1701 |02:18:20 ~-~-> 02:18:25 |wartime stif type of stuff, where somebody just got attacked, something
1703 |1702 |02:18:25 ~-~-> 02:18:29 |just exploded, some kind of terrorist attack, something to that effect, where
1704 |1703 |02:18:29 ~-~-> 02:18:32 |there's a manual intervention, where it's obvious that, okay, now we
1705 |1704 |02:18:32 ~-~-> 02:18:35 |understand there's that's the reason why the market did that is a knee jerk
1706 |1705 |02:18:35 ~-~-> 02:18:41 |reaction to some kind of event that took Place, barring that, if you're surprised
1707 |1706 |02:18:41 ~-~-> 02:18:47 |by price action intraday, you are getting the clearest indication that you
1708 |1707 |02:18:47 ~-~-> 02:18:53 |should not be trading with real money. If you feel the impulses of looking at
1709 |1708 |02:18:53 ~-~-> 02:18:56 |price action, or if you're in a trade and you start saying things like this, I
1710 |1709 |02:18:56 ~-~-> 02:19:00 |know if I get out of this trade, it's going to do stop right now and go back
1711 |1710 |02:19:00 ~-~-> 02:19:04 |to demo, because you literally are indicating that you have no idea what
1712 |1711 |02:19:04 ~-~-> 02:19:09 |you're doing. You have no model. You're guessing. That's exactly what that is.
1713 |1712 |02:19:09 ~-~-> 02:19:15 |You're guessing. As soon as you start articulating in internally or audibly
1714 |1713 |02:19:16 ~-~-> 02:19:24 |conditions that if I do this, I know, okay, soon as you, soon as you start
1715 |1714 |02:19:24 ~-~-> 02:19:29 |saying that or start thinking that, here's what you need to know about what
1716 |1715 |02:19:29 ~-~-> 02:19:35 |you just did. You just proven that you lost the plot or never had it, and you
1717 |1716 |02:19:35 ~-~-> 02:19:41 |better be removing yourself from monetary risk immediately. Anyone that
1718 |1717 |02:19:41 ~-~-> 02:19:46 |stays in that condition, or continues to stay in that condition after that
1719 |1718 |02:19:46 ~-~-> 02:19:52 |trading episode, and you keep repeating that you do not have a consistent model.
1720 |1719 |02:19:52 ~-~-> 02:19:57 |You're not consistently applying said model, and you're guessing and
1721 |1720 |02:19:57 ~-~-> 02:20:03 |eventually, eventually. You're going to have to pay the devil his due. He says,
1722 |1721 |02:20:03 ~-~-> 02:20:07 |letting you trip right through hell. And you're only getting a sunburn once in a
1723 |1722 |02:20:07 ~-~-> 02:20:11 |while, but eventually he's going to grab you, he's going to chain you down, and
1724 |1723 |02:20:11 ~-~-> 02:20:15 |you're going to go through some stuff. You keep tempting it, it's going to
1725 |1724 |02:20:15 ~-~-> 02:20:20 |happen. But when you go out there in ignorance, staying in the marketplace
1726 |1725 |02:20:20 ~-~-> 02:20:24 |with real monetary risk, and you're thinking or feeling or audibly saying it
1727 |1726 |02:20:24 ~-~-> 02:20:27 |out loud, I know if I get out of this marketplace, I know it's going to go and
1728 |1727 |02:20:27 ~-~-> 02:20:31 |tear off and there it is. Or I know if I put a short one right here, I know it's
1729 |1728 |02:20:31 ~-~-> 02:20:35 |going to run, you know, run higher as soon as I get in there. What are you
1730 |1729 |02:20:35 ~-~-> 02:20:42 |doing? What are you doing? There are people literally being paid by people
1731 |1730 |02:20:42 ~-~-> 02:20:47 |that talk like this on the regular. That is the surest sign that they don't know
1732 |1731 |02:20:47 ~-~-> 02:20:53 |what the fuck they're doing. No professional, no professional minded
1733 |1732 |02:20:53 ~-~-> 02:20:57 |fucking trader ever says audibly. You know, I know if I do this, XYZ is going
1734 |1733 |02:20:57 ~-~-> 02:21:00 |to happen, and I'm wrong, and I'm going to, I'm going to stick with this because
1735 |1734 |02:21:00 ~-~-> 02:21:02 |I feel impulsive about it, because that's exactly what you're saying.
1736 |1735 |02:21:02 ~-~-> 02:21:06 |Exactly what you're saying. You're you're being impulsive versus well
1737 |1736 |02:21:06 ~-~-> 02:21:15 |versed planned model being implemented. It's binary, it's this or it's that, and
1738 |1737 |02:21:15 ~-~-> 02:21:20 |you execute on this or that, you don't worry about the gray areas in between.
1739 |1738 |02:21:20 ~-~-> 02:21:20 |Well, I
1740 |1739 |02:21:20 ~-~-> 02:21:26 |feel like this is going to do if I does, that's what you feel. Means nothing. The
1741 |1740 |02:21:26 ~-~-> 02:21:30 |algorithm is not tapped into your emotions, but you're tapping into the
1742 |1741 |02:21:30 ~-~-> 02:21:34 |market through and via your emotions. As soon as you start doing that, you have
1743 |1742 |02:21:34 ~-~-> 02:21:38 |completely unplugged from what the market's telling you, and you're not
1744 |1743 |02:21:38 ~-~-> 02:21:42 |reading the price anymore. You're reading your emotions. You're putting
1745 |1744 |02:21:42 ~-~-> 02:21:47 |yourself through a lie detector test. That's what you're doing. Do you feel
1746 |1745 |02:21:47 ~-~-> 02:21:50 |like this is going to be a trade, that you'd hold them to true or false? Let's
1747 |1746 |02:21:50 ~-~-> 02:21:53 |see what your outcome is going to be. And you literally fail the polygraph
1748 |1747 |02:21:53 ~-~-> 02:21:58 |right there by saying, I know if it does this, you don't know shit. You don't
1749 |1748 |02:21:58 ~-~-> 02:22:02 |know anything. As soon as you talk like that, you know nothing. Get out of the
1750 |1749 |02:22:02 ~-~-> 02:22:06 |market, go back to demo, until you start trading without that. When you go to
1751 |1750 |02:22:06 ~-~-> 02:22:11 |those types of things, you start saying, I know if I do this, it's going to hurt
1752 |1751 |02:22:11 ~-~-> 02:22:14 |me otherwise, or I'm going to regret this. You're worried about the outcome.
1753 |1752 |02:22:15 ~-~-> 02:22:18 |You're not worried about the process and the model anymore. You're worried about
1754 |1753 |02:22:18 ~-~-> 02:22:23 |the outcome, which is not guaranteed to any of us, so you've lost the plot or
1755 |1754 |02:22:23 ~-~-> 02:22:28 |never had it from the beginning, and anyone that you see talks like that.
1756 |1755 |02:22:29 ~-~-> 02:22:34 |They're indicating to you. Okay, in performance art and in magic, there's
1757 |1756 |02:22:34 ~-~-> 02:22:41 |this event that it's called the point of indication. The point of indication is
1758 |1757 |02:22:41 ~-~-> 02:22:46 |much like when you're gambling at a card table. It's a tell. It's their way of
1759 |1758 |02:22:46 ~-~-> 02:22:50 |telling on themselves. It's them saying and indicating to you that this is my
1760 |1759 |02:22:50 ~-~-> 02:22:56 |moment of weakness, this is my moment of ignorance, and I'm trying to do
1761 |1760 |02:22:56 ~-~-> 02:23:00 |something to mask it from myself, hoping that nobody else picks up on it. That's
1762 |1761 |02:23:00 ~-~-> 02:23:06 |why it's called a tell. Gamblers are never really playing the cards. They're
1763 |1762 |02:23:06 ~-~-> 02:23:12 |playing the people holding the cards, that's what they're doing. And people
1764 |1763 |02:23:12 ~-~-> 02:23:16 |that come off real cocky, arrogant, and I got a winning hand, oh, you might as
1765 |1764 |02:23:16 ~-~-> 02:23:19 |well just fold. I got you. Or all in, all in, all in, they're just playing the
1766 |1765 |02:23:19 ~-~-> 02:23:24 |bluff too many times. And gamblers that know what they're doing, they can read
1767 |1766 |02:23:24 ~-~-> 02:23:28 |people. They'll watch and see how often do they want to go in high raise, going
1768 |1767 |02:23:28 ~-~-> 02:23:33 |all in, all that type of stuff, because they're reading the person, the
1769 |1768 |02:23:33 ~-~-> 02:23:37 |character. They don't know for certain what cards they have. They don't need to
1770 |1769 |02:23:37 ~-~-> 02:23:41 |know that. They just need to know what's the pattern of them. They haven't had a
1771 |1770 |02:23:41 ~-~-> 02:23:44 |winning hand for a while, so that means they're going to press hard. They're
1772 |1771 |02:23:44 ~-~-> 02:23:47 |going to try to bluff. They may, they maybe have something, maybe they don't,
1773 |1772 |02:23:48 ~-~-> 02:23:51 |but if, all of a sudden, you know, they've been changing themselves, and
1774 |1773 |02:23:51 ~-~-> 02:23:55 |they're indicating their tell, if they start adjusting their sunglasses, they
1775 |1774 |02:23:55 ~-~-> 02:23:59 |put their hands on it, or they put their hands across their lips, or they adjust
1776 |1775 |02:23:59 ~-~-> 02:24:02 |their hat, or do something like that. That's a tell. That's a point of
1777 |1776 |02:24:02 ~-~-> 02:24:07 |indication in magic. For magicians, they always close their eyes when they when
1778 |1777 |02:24:07 ~-~-> 02:24:10 |they do the sleight of hand, when they're doing the trick part that you're
1779 |1778 |02:24:10 ~-~-> 02:24:15 |not supposed to see an amateur magician, they close their eyes because what
1780 |1779 |02:24:15 ~-~-> 02:24:19 |they're doing is, is they're hiding that moment when they know they're not really
1781 |1780 |02:24:19 ~-~-> 02:24:23 |equipped to be doing it in front of an audience yet. So they close their eyes
1782 |1781 |02:24:23 ~-~-> 02:24:26 |thinking, well, if I don't see it, the audience doesn't see it, but that
1783 |1782 |02:24:26 ~-~-> 02:24:30 |doesn't translate. Sometimes the audience will see it, and they'll flash
1784 |1783 |02:24:30 ~-~-> 02:24:33 |and you'll see them doing the sleight of hand, and it doesn't look like match
1785 |1784 |02:24:33 ~-~-> 02:24:36 |anymore. It looks like magical malpractice. And the same thing happens
1786 |1785 |02:24:36 ~-~-> 02:24:44 |in trading. You have trading malpractice done to yourself. You're you're
1787 |1786 |02:24:44 ~-~-> 02:24:47 |indicating you're not equipped to be trading with real money. When you start
1788 |1787 |02:24:47 ~-~-> 02:24:52 |talking in a language like, I know if I do this, if I get out, it's going to run
1789 |1788 |02:24:52 ~-~-> 02:24:57 |and blast off. Okay, if you fucking know that, then stay in the trade. Stop
1790 |1789 |02:24:57 ~-~-> 02:25:02 |talking about it. Just do that. But what you're. Is you're making an allowance
1791 |1790 |02:25:02 ~-~-> 02:25:07 |for an outcome that you've now placed above and beyond in terms of importance
1792 |1791 |02:25:07 ~-~-> 02:25:12 |to the outcome of what you started to trade on. If you're in a trade, you stay
1793 |1792 |02:25:12 ~-~-> 02:25:17 |with the trade until it proves to you otherwise, nothing else is important.
1794 |1793 |02:25:17 ~-~-> 02:25:21 |You don't talk about your emotions. You don't say anything about your emotions.
1795 |1794 |02:25:21 ~-~-> 02:25:25 |I think I feel, I know it's going to do this. If it does this, it's me, you're
1796 |1795 |02:25:25 ~-~-> 02:25:28 |you're predicting an outcome that you don't know for certain is going to
1797 |1796 |02:25:28 ~-~-> 02:25:33 |happen, and your attention is placed on that, and that type of stuff is going to
1798 |1797 |02:25:33 ~-~-> 02:25:38 |happen in these conditions. Folks, you don't have time to think like that when
1799 |1798 |02:25:38 ~-~-> 02:25:41 |it's in low resistance liquidity run conditions, because the market's in a
1800 |1799 |02:25:41 ~-~-> 02:25:46 |hurry to get to your profit. If you're on side, using the stuff I'm teaching,
1801 |1800 |02:25:46 ~-~-> 02:25:52 |if you're on side on those instances, at that time, the market's not going to
1802 |1801 |02:25:52 ~-~-> 02:25:56 |spend a lot of time dilly dallying around. It's just off the races and go,
1803 |1802 |02:25:56 ~-~-> 02:26:01 |baby. That's how you want to trade. You don't want to be in conditions that have
1804 |1803 |02:26:01 ~-~-> 02:26:05 |you wrestling with. Should I stay with this? I don't know. Should I hold on to
1805 |1804 |02:26:05 ~-~-> 02:26:09 |this? Should I take something off? Should I fuck that? I'm not interested
1806 |1805 |02:26:09 ~-~-> 02:26:13 |in being in those markets like that. And doesn't make me a lesser trader than
1807 |1806 |02:26:13 ~-~-> 02:26:18 |somebody else. Does it make me a better trader because, you know, I'm more
1808 |1807 |02:26:18 ~-~-> 02:26:25 |selective. It makes me better as a person inside my own seven pound
1809 |1808 |02:26:25 ~-~-> 02:26:30 |universe, that brain is in between my ears. I have to live within myself while
1810 |1809 |02:26:30 ~-~-> 02:26:34 |I'm in a trade. And I know what it's like to be in a trade and tearing my own
1811 |1810 |02:26:34 ~-~-> 02:26:39 |flesh from my myself from the inside out, clawing my way, wishing the trade
1812 |1811 |02:26:39 ~-~-> 02:26:43 |would just end, because it's it's through nerve wrecking, being in
1813 |1812 |02:26:43 ~-~-> 02:26:47 |conditions even when you're making money and you're brand new, you want to just
1814 |1813 |02:26:47 ~-~-> 02:26:50 |escape that feeling of uncomfortable. Man. Is this ever going to let me get
1815 |1814 |02:26:50 ~-~-> 02:26:53 |out of this with a profit? It's so close, I'm like, seven handles away, 10
1816 |1815 |02:26:53 ~-~-> 02:26:58 |handles away. Let me just get out of this. Please get up and hit my target in
1817 |1816 |02:26:58 ~-~-> 02:27:03 |the beginning, the best thing you can do is get out of it. When you're in that
1818 |1817 |02:27:03 ~-~-> 02:27:06 |profit and you start feeling that wrestling match, get out of it, and then
1819 |1818 |02:27:06 ~-~-> 02:27:11 |log the rest of the trade. If it goes there, you get a moral victory. That's
1820 |1819 |02:27:11 ~-~-> 02:27:15 |new growth. Well, there's confidence builder right there. If I would have
1821 |1820 |02:27:15 ~-~-> 02:27:18 |stayed with it, there it is. But you gotta get to that threshold of failure
1822 |1821 |02:27:18 ~-~-> 02:27:22 |where you can't stand it anymore in the beginning, and then when you can't stand
1823 |1822 |02:27:22 ~-~-> 02:27:27 |it anymore, close the trade and watch what happens after that. That's the best
1824 |1823 |02:27:27 ~-~-> 02:27:31 |you can do. There's nothing else you can do that's more positive reinforcement,
1825 |1824 |02:27:31 ~-~-> 02:27:34 |cuz if you stay with it, if it's if it doesn't go there, you're going to carry
1826 |1825 |02:27:34 ~-~-> 02:27:39 |that resentment for years. And that one little transaction in the beginning,
1827 |1826 |02:27:40 ~-~-> 02:27:45 |everything is in seed format in the beginning. Everything that you're
1828 |1827 |02:27:45 ~-~-> 02:27:48 |planting in your future self and future harvest, of making money, it's all in
1829 |1828 |02:27:48 ~-~-> 02:27:53 |seed format. That's what you're, you're you're planting all those things in the
1830 |1829 |02:27:53 ~-~-> 02:27:56 |beginning. Doesn't it make sense to plant good seeds in the beginning? So
1831 |1830 |02:27:56 ~-~-> 02:27:59 |that way, your harvest is bountiful and lifelong. Going forward, you have a lot
1832 |1831 |02:27:59 ~-~-> 02:28:04 |of experience you can reap from harvesting good, positive reinforcement
1833 |1832 |02:28:04 ~-~-> 02:28:08 |ideas that you've did these things in the past. Therefore, you can trust the
1834 |1833 |02:28:08 ~-~-> 02:28:12 |logic behind it, versus always giving yourself the opportunity to be in these
1835 |1834 |02:28:12 ~-~-> 02:28:19 |toxic environments, never spending any time with weeding your garden, keeping
1836 |1835 |02:28:19 ~-~-> 02:28:24 |all the weeds out of your garden. That means your mind's not spent worrying
1837 |1836 |02:28:24 ~-~-> 02:28:28 |about toxic shit all the time, whether it be toxic personalities on the
1838 |1837 |02:28:28 ~-~-> 02:28:33 |internet, toxic educators, toxic people that talk to you on social media to tell
1839 |1838 |02:28:33 ~-~-> 02:28:36 |you what you're learning isn't going to work, or you're going to fail, or
1840 |1839 |02:28:37 ~-~-> 02:28:41 |putting yourself through toxic environments, forcing yourself to trade
1841 |1840 |02:28:41 ~-~-> 02:28:45 |in environments like this as a new trader, these are complex. That's not
1842 |1841 |02:28:45 ~-~-> 02:28:49 |complex for me, but it's complex for a student that's brand new or not well
1843 |1842 |02:28:49 ~-~-> 02:28:52 |versed with price action. They're not going to be able to appreciate the
1844 |1843 |02:28:52 ~-~-> 02:28:57 |difficulties that are now elevated because of the nature of what the
1845 |1844 |02:28:57 ~-~-> 02:29:01 |market's going to do, how it's going to print, how it's how it's going to book
1846 |1845 |02:29:01 ~-~-> 02:29:05 |price, in contrast to when the market has high impact or medium impact news
1847 |1846 |02:29:05 ~-~-> 02:29:10 |drivers, and it's not a Monday, and we have very clear, obvious draws on
1848 |1847 |02:29:10 ~-~-> 02:29:13 |liquidity, new week opening gaps, New Day opening gaps that are clustered, and
1849 |1848 |02:29:13 ~-~-> 02:29:18 |we have an opening range gap of more than 45 handles minimum. But I'd like 75
1850 |1849 |02:29:19 ~-~-> 02:29:23 |but there you go. That's recipe for just beautiful, low resistance liquidity run
1851 |1850 |02:29:23 ~-~-> 02:29:27 |conditions. It's not 100% guarantee that you're going to get low resistance
1852 |1851 |02:29:27 ~-~-> 02:29:31 |liquidity run conditions. It means that the probabilities are off the charts
1853 |1852 |02:29:31 ~-~-> 02:29:34 |that that's probably what's going to happen. And that means I'm going to be
1854 |1853 |02:29:34 ~-~-> 02:29:38 |all over that day or that session, all over it, like, why don't rice? I'm going
1855 |1854 |02:29:38 ~-~-> 02:29:49 |to be on that and it's important to know that even while you're learning in hot,
1856 |1855 |02:29:49 ~-~-> 02:29:54 |in low resistance liquid during conditions that your ultimate target
1857 |1856 |02:29:54 ~-~-> 02:29:57 |which you're trying to draw to, you know your new week opening gap high when
1858 |1857 |02:29:57 ~-~-> 02:30:01 |you're short, or new week opening gap low when you're long. You. It doesn't
1859 |1858 |02:30:01 ~-~-> 02:30:04 |need to trade to that in the beginning. For you, it doesn't need to do that at
1860 |1859 |02:30:04 ~-~-> 02:30:15 |all. If someone said, I'm going to give you $100,000 to trade with the rules are
1861 |1860 |02:30:15 ~-~-> 02:30:19 |you can never take more than 15 handles out of the NASDAQ, but you can't take
1862 |1861 |02:30:19 ~-~-> 02:30:23 |more than one trade either per day. The first time you do that, you lose all
1863 |1862 |02:30:23 ~-~-> 02:30:30 |access to the $100,000 how many of you would have the discipline to stick to
1864 |1863 |02:30:30 ~-~-> 02:30:36 |that? I would, I would wager 95% of you couldn't do it. You might say you can,
1865 |1864 |02:30:36 ~-~-> 02:30:45 |but you won't. What happens if you were presented an opportunity to trade and
1866 |1865 |02:30:45 ~-~-> 02:30:51 |have a goal of getting 10 handles a day in NASDAQ, and when you get it, you
1867 |1866 |02:30:51 ~-~-> 02:30:57 |stop, and you don't care what anybody else says. You don't care how much it's
1868 |1867 |02:30:57 ~-~-> 02:31:04 |going to move. Soon as it gets you 10 handles, you're out, you're done. Could
1869 |1868 |02:31:04 ~-~-> 02:31:12 |you do that? Cuz Matt Miller did that, and he took $300,000 out of the
1870 |1869 |02:31:12 ~-~-> 02:31:19 |marketplace. Did it in front of everybody, transparent, showed
1871 |1870 |02:31:19 ~-~-> 02:31:19 |everything
1872 |1871 |02:31:21 ~-~-> 02:31:26 |that is commendable. I have respect for that. Everybody. Everybody else should
1873 |1872 |02:31:26 ~-~-> 02:31:36 |have respect for that. And he was doing the least. He was doing the least, and
1874 |1873 |02:31:36 ~-~-> 02:31:46 |made over 300,000 spendable dollars in his bank account, it's his money. Now,
1875 |1874 |02:31:46 ~-~-> 02:31:53 |truth be told, I was kind of hoping he would cash out and then start over,
1876 |1875 |02:31:53 ~-~-> 02:31:58 |because that way he had all that money. And if you have a model that works, just
1877 |1876 |02:31:58 ~-~-> 02:32:03 |start all over and build it up again. But the mind doesn't usually work like
1878 |1877 |02:32:03 ~-~-> 02:32:07 |that. It's like, well, I built it up. I'm going to just keep working off of
1879 |1878 |02:32:07 ~-~-> 02:32:15 |this when I bet in a different opportunity, if it gets that point
1880 |1879 |02:32:15 ~-~-> 02:32:20 |again, he might entertain the idea doing it differently. Because if you can build
1881 |1880 |02:32:20 ~-~-> 02:32:26 |it up one time, and you have a model you stick to, and you built that, I guess,
1882 |1881 |02:32:26 ~-~-> 02:32:32 |progress that you can measure and say, I did all those things before, okay, even
1883 |1882 |02:32:32 ~-~-> 02:32:35 |if he lost the account or cashed out, either way, you're going to stop
1884 |1883 |02:32:35 ~-~-> 02:32:38 |trading. No, you're not going to do that. Might take some time off, worst
1885 |1884 |02:32:38 ~-~-> 02:32:40 |case scenario, but you're going to go back and try to do the same thing you
1886 |1885 |02:32:40 ~-~-> 02:32:43 |just did the first time, right? You're going to build it up. The first time,
1887 |1886 |02:32:43 ~-~-> 02:32:46 |right? You're gonna build it up. Okay? Well, if you have this big, massive
1888 |1887 |02:32:46 ~-~-> 02:32:49 |account with these prop firms, why the are you letting them hold that money?
1889 |1888 |02:32:50 ~-~-> 02:32:55 |Why I read all these stories and these people talking to how they're being
1890 |1889 |02:32:55 ~-~-> 02:32:59 |denied and delayed and delayed and delayed? Dude, seriously, there's more
1891 |1890 |02:32:59 ~-~-> 02:33:05 |people learning how to trade better than there has ever been. My students are
1892 |1891 |02:33:05 ~-~-> 02:33:10 |cleaning up, and there's more of you coming all the time, and they're
1893 |1892 |02:33:10 ~-~-> 02:33:14 |changing rules and are changing rules and changing rules. My advice to you,
1894 |1893 |02:33:15 ~-~-> 02:33:24 |okay, is, if you have big balances, take them home. Take them home, spendable
1895 |1894 |02:33:24 ~-~-> 02:33:29 |money in your bank account. I mean that sincerely, because what's coming you're
1896 |1895 |02:33:29 ~-~-> 02:33:35 |going to want to have that money. And there's nothing guaranteeing that these
1897 |1896 |02:33:35 ~-~-> 02:33:40 |companies stay solvent. They're not going to go out there and broadcast you,
1898 |1897 |02:33:40 ~-~-> 02:33:45 |yeah, we're in financial straits. You know, we're, we're about ready to close
1899 |1898 |02:33:45 ~-~-> 02:33:48 |the doors. But when you start seeing them say, Well, you know, we're delaying
1900 |1899 |02:33:48 ~-~-> 02:33:51 |this, delaying this. It's, you know, money's getting paid out. You have to
1901 |1900 |02:33:51 ~-~-> 02:33:55 |wait. You have to wait. And now they're asking you to record yourself. I don't
1902 |1901 |02:33:55 ~-~-> 02:33:58 |know. I mean, it just seems like it's a whole lot of, whole lot of things are
1903 |1902 |02:33:58 ~-~-> 02:34:05 |being added. And the reason I say this is because if you were able to build it
1904 |1903 |02:34:05 ~-~-> 02:34:11 |up there, then you'll be able to do it again. Start from square one with the
1905 |1904 |02:34:11 ~-~-> 02:34:16 |cash in your hands. See that money ain't real cash to you. In their eyes, it's
1906 |1905 |02:34:16 ~-~-> 02:34:22 |this numbers. It's digits. In any time they can come with an excuse to say,
1907 |1906 |02:34:22 ~-~-> 02:34:25 |Well, yeah, we're going to deny it. You didn't pass this thing. You didn't you
1908 |1907 |02:34:25 ~-~-> 02:34:29 |did something squirrely over here, and you don't have it. So while you're in
1909 |1908 |02:34:29 ~-~-> 02:34:35 |good standing, get it, then start back all over again. What's the difference if
1910 |1909 |02:34:35 ~-~-> 02:34:38 |the money's in your bank account, versus them saying that you have this much
1911 |1910 |02:34:38 ~-~-> 02:34:43 |money in profits you could take out. The difference is, is you can buy groceries.
1912 |1911 |02:34:44 ~-~-> 02:34:47 |That's the difference. The difference is, you can pay your car note and your
1913 |1912 |02:34:47 ~-~-> 02:34:52 |bank notes that you owe loans on your house note, your ends can be met,
1914 |1913 |02:34:53 ~-~-> 02:34:58 |showing people what you have an unrealized profit in an account. To me,
1915 |1914 |02:34:58 ~-~-> 02:35:03 |I'm a money man. You. Oh, that's bullshit. That's a number. That's no
1916 |1915 |02:35:03 ~-~-> 02:35:06 |different than you taking a napkin and writing down this is how much money I
1917 |1916 |02:35:06 ~-~-> 02:35:09 |want to have in my bank account, because that's the equivalent you want that
1918 |1917 |02:35:09 ~-~-> 02:35:14 |money in your bank account, but you didn't ask for it yet. Why get that
1919 |1918 |02:35:14 ~-~-> 02:35:19 |fucking fuck those leaderboards, man. Fuck those leaderboards. Those
1920 |1919 |02:35:19 ~-~-> 02:35:23 |leaderboards. That's the trap. That's the gimmick, because they keep dangling
1921 |1920 |02:35:23 ~-~-> 02:35:26 |the carrot. Oh, if you keep building the account, if you keep dangling that
1922 |1921 |02:35:26 ~-~-> 02:35:29 |carrot, they're gonna keep doing what, trying to reach for something instead of
1923 |1922 |02:35:29 ~-~-> 02:35:34 |taking the fucking money that's owed to them. Take your money. That's your fuck
1924 |1923 |02:35:34 ~-~-> 02:35:37 |you money. That's you, I beat you money. That's your money that they can you can
1925 |1924 |02:35:37 ~-~-> 02:35:41 |spend on whatever fuck you want to spend it on you want to waste it important and
1926 |1925 |02:35:41 ~-~-> 02:35:45 |used cars. Go ahead. Bottom line is is you've made that money. You've earned
1927 |1926 |02:35:45 ~-~-> 02:35:52 |it. Take it home. Don't get caught up in all the bullshit leaderboards and all
1928 |1927 |02:35:52 ~-~-> 02:35:58 |that was shit. That's the trap. That's the trap. If you have big balances owed
1929 |1928 |02:35:58 ~-~-> 02:36:03 |to you and you can liquidate it. Liquidate that motherfucker, take it
1930 |1929 |02:36:03 ~-~-> 02:36:07 |home and put it in your bank account and then start all over again. You're saying
1931 |1930 |02:36:07 ~-~-> 02:36:11 |you don't have to trade if you can't do that, because that's exactly what you
1932 |1931 |02:36:11 ~-~-> 02:36:15 |you would be telling me that you don't know how to do the same thing that puts
1933 |1932 |02:36:15 ~-~-> 02:36:21 |you in that same position. Oh, if I take the money out, then I gotta build it all
1934 |1933 |02:36:21 ~-~-> 02:36:24 |up. The fuck you do. What are you talking about? You got to build it up.
1935 |1934 |02:36:24 ~-~-> 02:36:31 |It's in your own bank account. It's in your hands. It ain't your fucking money
1936 |1935 |02:36:31 ~-~-> 02:36:39 |until it's in your hands. The mentality of these individuals that have these big
1937 |1936 |02:36:39 ~-~-> 02:36:44 |balances sitting on these prop firms, and they parade around on the internet
1938 |1937 |02:36:44 ~-~-> 02:36:47 |saying, Look at this. This is what I got. I got sitting in my account right
1939 |1938 |02:36:47 ~-~-> 02:36:52 |now. Are you fucking nuts? Some I'm a money person. Okay, if that money is
1940 |1939 |02:36:52 ~-~-> 02:36:59 |your money, bring it home. Bring it the fuck home. Because it's not your money.
1941 |1940 |02:37:00 ~-~-> 02:37:06 |If it's in their hands, it's their money. And remember, if it's your money,
1942 |1941 |02:37:06 ~-~-> 02:37:11 |why you have to ask for it when it's in your bank account, you don't have to ask
1943 |1942 |02:37:11 ~-~-> 02:37:19 |anybody you spend it. But it just shows the level of financial illiteracy. Even
1944 |1943 |02:37:19 ~-~-> 02:37:24 |in prop trading, these individuals, they get caught up in the social media. Badge
1945 |1944 |02:37:24 ~-~-> 02:37:29 |of honor. Look what I've got. Look what I built my account to that. I'm not
1946 |1945 |02:37:29 ~-~-> 02:37:35 |impressed by that. What did you put in your bank? Cuz that's what this is all
1947 |1946 |02:37:35 ~-~-> 02:37:40 |about. You did not start trading to be on a leaderboard. You did not start
1948 |1947 |02:37:40 ~-~-> 02:37:45 |trading to have other people glad hand and shake your hand say, Wow, you really
1949 |1948 |02:37:45 ~-~-> 02:37:49 |ran that account up a lot. Okay, that's wonderful that you ran it up. But how
1950 |1949 |02:37:49 ~-~-> 02:37:53 |about running that in the bank wire to your bank account? Okay? And then we can
1951 |1950 |02:37:53 ~-~-> 02:37:58 |glad hand and say, Damn son, that was how you do it. That's how you do it.
1952 |1951 |02:37:58 ~-~-> 02:38:04 |It's about taking it home. It's not about how many times you pass a combine.
1953 |1952 |02:38:04 ~-~-> 02:38:09 |Who gives a about that. It's funny. As a kid, growing up, one of the things that
1954 |1953 |02:38:09 ~-~-> 02:38:14 |pissed me off about Ric Flair, I love to hate him, one of the things that pissed
1955 |1954 |02:38:14 ~-~-> 02:38:18 |me off is dude, like Gary is 10 times world champion. I mean, I know shits
1956 |1955 |02:38:18 ~-~-> 02:38:21 |off, scripted and rigged, okay, but as a little boy, I believed that shit. I was
1957 |1956 |02:38:21 ~-~-> 02:38:24 |mad all the time. Every Saturday morning, I was pissed off his mother
1958 |1957 |02:38:24 ~-~-> 02:38:30 |because he was cheating, and my argument was always, yeah, you're 10 times. That
1959 |1958 |02:38:30 ~-~-> 02:38:35 |means you fucking lost it nine times. You lost that bitch nine times. So I'm
1960 |1959 |02:38:35 ~-~-> 02:38:39 |never impressed when people say, I Paul, I passed another combine. I passed
1961 |1960 |02:38:39 ~-~-> 02:38:48 |another combine. No. How much money have you brought home? How much have you
1962 |1961 |02:38:48 ~-~-> 02:38:52 |brought home? Because that's what this game's all about. It's not about how
1963 |1962 |02:38:52 ~-~-> 02:38:56 |many things you can pass. How about passing me my mother fucking money Jack.
1964 |1963 |02:38:57 ~-~-> 02:39:02 |Okay, pass me the money I got on hold in your prop firm and bring it to back to
1965 |1964 |02:39:02 ~-~-> 02:39:05 |me, okay? Because then it's spendable money, and then you've made money. You
1966 |1965 |02:39:05 ~-~-> 02:39:11 |didn't make any fucking money with those digits on a leaderboard or a prop firm
1967 |1966 |02:39:11 ~-~-> 02:39:15 |account saying that you have this much money, that's not money. They're just
1968 |1967 |02:39:15 ~-~-> 02:39:20 |numbers. It's only money when it's in your hands and you can spend it on
1969 |1968 |02:39:20 ~-~-> 02:39:27 |whatever the fuck you want to spend it on. And anybody that tells you otherwise
1970 |1969 |02:39:27 ~-~-> 02:39:33 |is fucking stupid, because all that is the trick to never have to ask for all
1971 |1970 |02:39:33 ~-~-> 02:39:37 |that money from the prop firms. They don't want to be paying out those big
1972 |1971 |02:39:37 ~-~-> 02:39:41 |payouts. They don't want that. That's against the whole fucking process. They
1973 |1972 |02:39:41 ~-~-> 02:39:46 |make money from you losing. The only way they profit is by you re upping and
1974 |1973 |02:39:46 ~-~-> 02:39:49 |restarting. That's the game. That's the Ponzi. So if you have a lot of money,
1975 |1974 |02:39:49 ~-~-> 02:39:54 |you've built it up, you earned it, get it, take it home, and then start it all
1976 |1975 |02:39:54 ~-~-> 02:39:57 |over again. Because if you know what you're doing, it's nothing to do that.
1977 |1976 |02:39:58 ~-~-> 02:40:00 |In fact, it's better, because you're free. It up emotionally and
1978 |1977 |02:40:00 ~-~-> 02:40:07 |psychologically, you've been paid out. I'm sure. I'm certain, Matt, if you're
1979 |1978 |02:40:07 ~-~-> 02:40:11 |listening, you know, I mean by this, it's not derogatory, but I you know that
1980 |1979 |02:40:11 ~-~-> 02:40:17 |Matt Miller, you know trade by Matt, when he had that $300,000 payout, he had
1981 |1980 |02:40:17 ~-~-> 02:40:21 |a lot more money in there he could took out, but he wanted to keep it in there.
1982 |1981 |02:40:22 ~-~-> 02:40:29 |I bet you, if we were at a bar or a restaurant, one on one talking, I bet
1983 |1982 |02:40:29 ~-~-> 02:40:31 |you he would say, You know what, if I could go back in time, I wish I would
1984 |1983 |02:40:31 ~-~-> 02:40:36 |have liquidated it and started all over again. I bet you he would say that. And
1985 |1984 |02:40:37 ~-~-> 02:40:41 |anybody in their right mind would say the same thing. So my question is, when
1986 |1985 |02:40:41 ~-~-> 02:40:47 |these individuals, no matter what it is, if you're running up $10,000 or more,
1987 |1986 |02:40:50 ~-~-> 02:40:56 |like pay yourself, there's nothing guaranteeing that you're, you're, you're
1988 |1987 |02:40:56 ~-~-> 02:41:02 |streak is going to continue, because these conditions right now. I promise
1989 |1988 |02:41:02 ~-~-> 02:41:05 |this is the last thing I'm saying, because I have to get out here. I get
1990 |1989 |02:41:05 ~-~-> 02:41:11 |something. I'm hungry. The conditions that we're trading in right now and
1991 |1990 |02:41:11 ~-~-> 02:41:17 |we're about to walk into in the next two weeks, going into 2025 is the hardest
1992 |1991 |02:41:17 ~-~-> 02:41:19 |market environments I've ever traded in,
1993 |1992 |02:41:20 ~-~-> 02:41:25 |and I've been around for 32 years, I've seen a lot of different markets. I've
1994 |1993 |02:41:25 ~-~-> 02:41:28 |seen good markets, fast markets, slow markets, tight markets, where they
1995 |1994 |02:41:28 ~-~-> 02:41:33 |didn't want to move anything. But these are the most difficult market conditions
1996 |1995 |02:41:33 ~-~-> 02:41:40 |I have ever seen, and I want you to understand that, because if I'm telling
1997 |1996 |02:41:40 ~-~-> 02:41:44 |you that. I'm telling you that for a reason. If you have a way to get money
1998 |1997 |02:41:44 ~-~-> 02:41:50 |that's owed to you and you've earned it in these prop firms, take it, you're
1999 |1998 |02:41:50 ~-~-> 02:41:56 |going to need it. Rough times are coming and you've earned it, then you did not
2000 |1999 |02:41:56 ~-~-> 02:42:00 |earn it while it's sitting in a digit format. Think about how many times
2001 |2000 |02:42:00 ~-~-> 02:42:04 |you've heard someone, seen someone, or have experienced it yourself, where you
2002 |2001 |02:42:04 ~-~-> 02:42:08 |had unrealized profit that you could have taken out but you wanted to build
2003 |2002 |02:42:08 ~-~-> 02:42:14 |the account up. I'm telling you someone as a money person, there's no difference
2004 |2003 |02:42:14 ~-~-> 02:42:18 |between you taking that money out of their hands when it's owed to you, and
2005 |2004 |02:42:18 ~-~-> 02:42:22 |putting in your bank account and starting all over again, those combines
2006 |2005 |02:42:22 ~-~-> 02:42:28 |are nothing to pass. They're nothing to pass. But staying in them when they're
2007 |2006 |02:42:28 ~-~-> 02:42:32 |funded, that's the challenge. So if you worked at hard to get it to where it is,
2008 |2007 |02:42:32 ~-~-> 02:42:36 |where you have that much money to take out of it, take out of it. Take Take it
2009 |2008 |02:42:36 ~-~-> 02:42:43 |out. Just get get paid. That's the main thing. You have to be able to exchange
2010 |2009 |02:42:43 ~-~-> 02:42:47 |that money from their hands, which is in numerical format only, and turn it into
2011 |2010 |02:42:47 ~-~-> 02:42:51 |real money, which is what they don't want to do. They don't want to turn
2012 |2011 |02:42:51 ~-~-> 02:42:56 |those digits into real money that has to be paid to you, because when that
2013 |2012 |02:42:56 ~-~-> 02:43:03 |happens, their profit drops. What business model ever has that mind or
2014 |2013 |02:43:03 ~-~-> 02:43:09 |that mindset that you know our success is on the basis of you losing
2015 |2014 |02:43:09 ~-~-> 02:43:13 |continuously and paying for those losing, but our failure is you
2016 |2015 |02:43:13 ~-~-> 02:43:21 |succeeding? But that's exactly what that model is. That's exactly what it is. And
2017 |2016 |02:43:21 ~-~-> 02:43:26 |guess what? There's always going to be a market for that, until the regular step
2018 |2017 |02:43:26 ~-~-> 02:43:29 |in and say, we're going to do things differently now. But while it's afforded
2019 |2018 |02:43:29 ~-~-> 02:43:33 |to you and you have money that's there that should be given to you, if you ask
2020 |2019 |02:43:33 ~-~-> 02:43:39 |for it, ask for it, get it, secure it in your bank account, and then start over
2021 |2020 |02:43:40 ~-~-> 02:43:46 |and just repeat that, but leaving it in a position where it ain't your money is
2022 |2021 |02:43:46 ~-~-> 02:43:54 |stupidity, because given enough time, given enough opportunity, that digit
2023 |2022 |02:43:54 ~-~-> 02:44:00 |format will be no longer obtainable for you to take it and turn into real money.
2024 |2023 |02:44:00 ~-~-> 02:44:06 |So hopefully you learned something from today, a couple of stuff, and I think
2025 |2024 |02:44:06 ~-~-> 02:44:15 |that I communicated in the best way I can how someone could reasonably expect
2026 |2025 |02:44:16 ~-~-> 02:44:19 |to navigate or feel comfortable with saying, I'm not going to trade in a
2027 |2026 |02:44:19 ~-~-> 02:44:27 |condition like this today, until it is shown by repeatedly logging it,
2028 |2027 |02:44:27 ~-~-> 02:44:32 |journaling it, you won't you won't appreciate lectures like this. If this
2029 |2028 |02:44:32 ~-~-> 02:44:35 |sounds like well, you know you talk because you won't hear the sound of your
2030 |2029 |02:44:35 ~-~-> 02:44:39 |voice, and that's not what it is. Go back to the tweet this morning, these
2031 |2030 |02:44:39 ~-~-> 02:44:43 |levels I had in there. I told you the clustering where the market's going to
2032 |2031 |02:44:43 ~-~-> 02:44:49 |draw to your chart. Your chart shows this, just like it does on mine. We're
2033 |2032 |02:44:49 ~-~-> 02:44:53 |right in here, in the lower quadrant of that new week opening gap of last week.
2034 |2033 |02:44:54 ~-~-> 02:44:59 |But Caleb, and you don't require that, that's the major important thing here.
2035 |2034 |02:45:00 ~-~-> 02:45:04 |So over time, when you have better experience, more experience, you'll be
2036 |2035 |02:45:04 ~-~-> 02:45:07 |able to hold for these objectives, and you won't trail your stop loss, or if
2037 |2036 |02:45:07 ~-~-> 02:45:11 |you do get stopped out, you'll go in again, but you won't rush your stop
2038 |2037 |02:45:11 ~-~-> 02:45:14 |loss, the strangle the market and let it go down. There is a way to trade high
2039 |2038 |02:45:14 ~-~-> 02:45:18 |resistance to COVID Run conditions. There is, but you're not going to be
2040 |2039 |02:45:18 ~-~-> 02:45:21 |well versed in the beginning when you're first learning how to trade, to do well
2041 |2040 |02:45:21 ~-~-> 02:45:25 |in these conditions, because a lot of retracements, a lot of consolidations,
2042 |2041 |02:45:25 ~-~-> 02:45:30 |and a lot more overlapping. And that's not what you want to see in the trade.
2043 |2042 |02:45:30 ~-~-> 02:45:33 |You don't want to see unrealized profits erode and go down below your entry
2044 |2043 |02:45:33 ~-~-> 02:45:38 |pattern or or price, and then see it work real hard to get back into profit
2045 |2044 |02:45:38 ~-~-> 02:45:42 |again. Most traders don't have the wherewithal to do that. So I try to
2046 |2045 |02:45:42 ~-~-> 02:45:45 |teach in a way where it steers my students and my children who I'm
2047 |2046 |02:45:45 ~-~-> 02:45:49 |teaching really, I'm trying to steer them away from these environments,
2048 |2047 |02:45:49 ~-~-> 02:45:53 |because they're going to be more difficult. They're harder to navigate
2049 |2048 |02:45:53 ~-~-> 02:45:58 |when you don't have a lot of experience. And imagine, just for a moment, it you
2050 |2049 |02:45:58 ~-~-> 02:46:02 |had a lot of experience, and you knew a lot more than your own children, but
2051 |2050 |02:46:02 ~-~-> 02:46:07 |they want to learn what you do. Wouldn't you do everything in your power to try
2052 |2051 |02:46:07 ~-~-> 02:46:11 |to show them where, even with your ability and your skill set, you can
2053 |2052 |02:46:11 ~-~-> 02:46:16 |respect the measure of difficulty that's increased in other circumstances around
2054 |2053 |02:46:16 ~-~-> 02:46:20 |that school thought or whatever it is you're trying to teach them, it doesn't
2055 |2054 |02:46:20 ~-~-> 02:46:23 |have to be trading. Could be anything, but you have enough experience to know
2056 |2055 |02:46:23 ~-~-> 02:46:27 |that this is going to be harder for someone that's brand new versus someone
2057 |2056 |02:46:27 ~-~-> 02:46:31 |that's been doing it for 10 years. They won't see a day like this as all that
2058 |2057 |02:46:31 ~-~-> 02:46:37 |complicated. They have a little bit more understanding and discipline to to
2059 |2058 |02:46:37 ~-~-> 02:46:45 |restrict their their participation by way of leverage, number and frequency of
2060 |2059 |02:46:45 ~-~-> 02:46:50 |trade, and their expectation in terms of their profit. But as a new traders, a
2061 |2060 |02:46:50 ~-~-> 02:46:54 |new student, you don't think that way. It's like, how much can I make and how
2062 |2061 |02:46:54 ~-~-> 02:46:58 |fast can I get it? And I don't ever want to see a stop loss ever hit. That's the
2063 |2062 |02:46:58 ~-~-> 02:47:03 |normal expectation of a new trader. They don't think it's ever going to happen.
2064 |2063 |02:47:03 ~-~-> 02:47:06 |They say that you're going to find a mentor that teaches them how they're
2065 |2064 |02:47:06 ~-~-> 02:47:11 |never going to take a losing trade. And that's bullshit. So anyway, I had fun
2066 |2065 |02:47:11 ~-~-> 02:47:13 |talking to you. I hope you learned something today. These are those better
2067 |2066 |02:47:13 ~-~-> 02:47:17 |lessons that are better than the me picking the right fair leg up for you in
2068 |2067 |02:47:17 ~-~-> 02:47:20 |order blocks, because that stuff, you know, even with that information, you'll
2069 |2068 |02:47:20 ~-~-> 02:47:24 |lose and you'll lose money on days like this, even though that stuff okay, so
2070 |2069 |02:47:24 ~-~-> 02:47:27 |I'll talk to you guys, Lord willing tomorrow again, uh, it'll probably be a
2071 |2070 |02:47:27 ~-~-> 02:47:30 |morning session, normal, couple minutes after nine o'clock. You.