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