Last modified by Drunk Monkey on 2021-06-11 13:40

From version 1.1
edited by Drunk Monkey
on 2020-11-20 16:43
Change comment: There is no comment for this version
To version 2.1
edited by Drunk Monkey
on 2020-11-20 16:44
Change comment: There is no comment for this version

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3 +ICT: Good morning folks. appreciate your patience. Alright,
4 +
5 +2
6 +00:00:43,650 ~-~-> 00:00:46,410
7 +so we're gonna go over a few things. I'm not gonna spend a
8 +
9 +3
10 +00:00:46,410 ~-~-> 00:00:48,510
11 +whole lot of time with you today. I'm gonna try to keep the
12 +
13 +4
14 +00:00:48,720 ~-~-> 00:00:55,320
15 +session short. The focus is really to try to get you up to
16 +
17 +5
18 +00:00:55,320 ~-~-> 00:00:59,460
19 +speed as fast as I possibly can, but not cramming you with
20 +
21 +6
22 +00:00:59,460 ~-~-> 00:01:02,400
23 +too much info. Because I know that a lot of new followers
24 +
25 +7
26 +00:01:02,460 ~-~-> 00:01:08,550
27 +are not new readers, to my material. And you're all anxious
28 +
29 +8
30 +00:01:08,550 ~-~-> 00:01:13,560
31 +to get to the next video on my other tutorials, and in
32 +
33 +9
34 +00:01:13,560 ~-~-> 00:01:16,860
35 +between that, like give you what I think you should be doing
36 +
37 +10
38 +00:01:16,860 ~-~-> 00:01:21,000
39 +with your time, it's not going to be learned by watching my
40 +
41 +11
42 +00:01:21,000 ~-~-> 00:01:25,350
43 +videos, okay? There's a lot of folks that will say, watch
44 +
45 +12
46 +00:01:25,350 ~-~-> 00:01:28,080
47 +the videos, watch the videos. And it's true, you have to see
48 +
49 +13
50 +00:01:28,080 ~-~-> 00:01:31,830
51 +the videos to get the concepts. But don't spend your time
52 +
53 +14
54 +00:01:31,860 ~-~-> 00:01:34,710
55 +just watching videos binge watching, you actually have to do
56 +
57 +15
58 +00:01:34,710 ~-~-> 00:01:37,920
59 +all the work in your own charts. The folks that are going to
60 +
61 +16
62 +00:01:37,920 ~-~-> 00:01:42,180
63 +do well with my stuff or anything else. It's going to be the
64 +
65 +17
66 +00:01:42,180 ~-~-> 00:01:46,200
67 +ones that participate in practice and do it without being
68 +
69 +18
70 +00:01:46,500 ~-~-> 00:01:51,360
71 +told to do so by me. You got to have some initiative, okay.
72 +
73 +19
74 +00:01:51,360 ~-~-> 00:01:55,920
75 +And without having that it's going to be well, next to
76 +
77 +20
78 +00:01:55,920 ~-~-> 00:01:59,010
79 +impossible for you get good and you're going to be the one
80 +
81 +21
82 +00:01:59,010 ~-~-> 00:02:01,740
83 +that stands in the way of you Being proficient with this,
84 +
85 +22
86 +00:02:02,100 ~-~-> 00:02:05,790
87 +not my delivery of the content, not my frequency of putting
88 +
89 +23
90 +00:02:05,790 ~-~-> 00:02:09,750
91 +out videos, it's going to be the amount of time you put into
92 +
93 +24
94 +00:02:09,750 ~-~-> 00:02:15,630
95 +studying and studying correctly practicing it correctly. So
96 +
97 +25
98 +00:02:16,080 ~-~-> 00:02:18,870
99 +I'm going to give you why I believe that you should be
100 +
101 +26
102 +00:02:18,870 ~-~-> 00:02:23,130
103 +focusing on one pair. Okay, and how you should go about
104 +
105 +27
106 +00:02:23,130 ~-~-> 00:02:26,280
107 +doing that. And how you should log each experience each
108 +
109 +28
110 +00:02:26,280 ~-~-> 00:02:30,300
111 +deck. Now, either you're going to do it live, or you can do
112 +
113 +29
114 +00:02:30,300 ~-~-> 00:02:33,000
115 +it by hindsight, a lot of you have jobs, all you have
116 +
117 +30
118 +00:02:33,000 ~-~-> 00:02:36,090
119 +businesses, is life's going to be in the way and you can't
120 +
121 +31
122 +00:02:36,090 ~-~-> 00:02:40,800
123 +always be watching live price action. You still can learn
124 +
125 +32
126 +00:02:40,800 ~-~-> 00:02:45,120
127 +this. I taught myself a lot of the things that I teach, all
128 +
129 +33
130 +00:02:45,120 ~-~-> 00:02:49,260
131 +based on end of day data. I would go back and look at charts
132 +
133 +34
134 +00:02:49,320 ~-~-> 00:02:52,350
135 +that happened during the day with an hourly chart, and I
136 +
137 +35
138 +00:02:52,350 ~-~-> 00:02:55,590
139 +could see certain things and that's how I learned a lot of
140 +
141 +36
142 +00:02:55,590 ~-~-> 00:02:59,700
143 +the things that I started with my core principles. When I
144 +
145 +37
146 +00:02:59,700 ~-~-> 00:03:04,620
147 +was Starting with the Forex tutorials back in 2010 I've been
148 +
149 +38
150 +00:03:04,620 ~-~-> 00:03:07,980
151 +trading a lot longer than that. But a lot of the core
152 +
153 +39
154 +00:03:08,220 ~-~-> 00:03:11,220
155 +understanding came by way of just simply understanding end
156 +
157 +40
158 +00:03:11,220 ~-~-> 00:03:15,210
159 +of day trading. And that means nothing intraday, nothing
160 +
161 +41
162 +00:03:15,210 ~-~-> 00:03:21,000
163 +live. It was all based on basically a daily chart. Okay, so
164 +
165 +42
166 +00:03:22,050 ~-~-> 00:03:27,120
167 +yesterday I gave you guys a chart here and I highly price
168 +
169 +43
170 +00:03:27,120 ~-~-> 00:03:32,370
171 +hitting this specific level here. And hopefully I'll stem a
172 +
173 +44
174 +00:03:32,370 ~-~-> 00:03:36,960
175 +lot of this. With this comment about it probably won't be as
176 +
177 +45
178 +00:03:37,410 ~-~-> 00:03:40,740
179 +effective as I was hope, hope hope it would be rather. But
180 +
181 +46
182 +00:03:41,610 ~-~-> 00:03:44,550
183 +everyone seems to think that the magic is happening with the
184 +
185 +47
186 +00:03:44,550 ~-~-> 00:03:47,730
187 +Fibonacci. And there's a lot of things that go along with
188 +
189 +48
190 +00:03:48,030 ~-~-> 00:03:52,710
191 +using Fibonacci for my targets and my entries. It's not the
192 +
193 +49
194 +00:03:52,710 ~-~-> 00:03:56,580
195 +sole basis for my entry. Okay, in first glance, it looks
196 +
197 +50
198 +00:03:56,580 ~-~-> 00:03:59,910
199 +like something you've seen before, okay, but there's a lot
200 +
201 +51
202 +00:03:59,910 ~-~-> 00:04:03,300
203 +of Other things that you have to focus on and Shouldn't you
204 +
205 +52
206 +00:04:03,300 ~-~-> 00:04:05,820
207 +try doing on your own, you know, right away? It's not as
208 +
209 +53
210 +00:04:05,820 ~-~-> 00:04:08,460
211 +easy as you think it is. You don't know what the anchor what
212 +
213 +54
214 +00:04:08,460 ~-~-> 00:04:13,500
215 +fib on what level what? Pi with low, suddenly, you know, it
216 +
217 +55
218 +00:04:13,500 ~-~-> 00:04:15,930
219 +doesn't look like it doesn't work that good. And it's
220 +
221 +56
222 +00:04:15,930 ~-~-> 00:04:19,770
223 +because of the experience factor. My group that I have
224 +
225 +57
226 +00:04:19,770 ~-~-> 00:04:23,250
227 +mentored for the last over, over, well, it's been a year
228 +
229 +58
230 +00:04:23,250 ~-~-> 00:04:27,540
231 +now. Some of them are still admittedly struggling with some
232 +
233 +59
234 +00:04:27,540 ~-~-> 00:04:31,500
235 +of the concepts. And I'm constantly repeating. It's an
236 +
237 +60
238 +00:04:31,500 ~-~-> 00:04:34,350
239 +experience thing that they have to grow into. You don't
240 +
241 +61
242 +00:04:34,350 ~-~-> 00:04:37,260
243 +learn this overnight, you certainly aren't going to learn in
244 +
245 +62
246 +00:04:37,260 ~-~-> 00:04:40,830
247 +one year. Okay, but you will learn to grow in your
248 +
249 +63
250 +00:04:40,830 ~-~-> 00:04:43,140
251 +understanding. So I'm going to give you a foundation today.
252 +
253 +64
254 +00:04:43,560 ~-~-> 00:04:46,920
255 +To start with, it's only specifically dealing with scouting,
256 +
257 +65
258 +00:04:46,920 ~-~-> 00:04:51,480
259 +okay. So please don't come at me on Twitter about hey, look,
260 +
261 +66
262 +00:04:51,540 ~-~-> 00:04:54,330
263 +you know, what about central bank dealers range and what
264 +
265 +67
266 +00:04:54,330 ~-~-> 00:04:58,080
267 +about the fallout? And what about, you know, the moving
268 +
269 +68
270 +00:04:58,080 ~-~-> 00:05:03,060
271 +average crossovers, and what about it Trading stick to what
272 +
273 +69
274 +00:05:03,060 ~-~-> 00:05:05,850
275 +I'm giving you. Not because I'm trying to hold anything away
276 +
277 +70
278 +00:05:05,850 ~-~-> 00:05:10,620
279 +from you, but I gave you guys way too much stuff before way
280 +
281 +71
282 +00:05:10,620 ~-~-> 00:05:14,100
283 +too fast. And it's gave the impression that you needed to
284 +
285 +72
286 +00:05:14,100 ~-~-> 00:05:18,090
287 +have all that to be successful. And to some degree, a lot of
288 +
289 +73
290 +00:05:18,090 ~-~-> 00:05:23,490
291 +mine. detractors were right in the sense that I was giving
292 +
293 +74
294 +00:05:23,490 ~-~-> 00:05:26,100
295 +way too much. But what I was really doing was I was giving
296 +
297 +75
298 +00:05:26,100 ~-~-> 00:05:30,000
299 +you everything that I went through to develop myself as the
300 +
301 +76
302 +00:05:30,000 ~-~-> 00:05:31,770
303 +amateur trader, the person that you see that
304 +
305 +77
306 +00:05:32,250 ~-~-> 00:05:35,610
307 +took calls the market and gives the analysis concepts, all
308 +
309 +78
310 +00:05:35,610 ~-~-> 00:05:38,670
311 +those things that led up to my understanding, and to become
312 +
313 +79
314 +00:05:38,670 ~-~-> 00:05:41,520
315 +who I am as a trader. Those were the things I went through.
316 +
317 +80
318 +00:05:41,820 ~-~-> 00:05:45,030
319 +And it was kinda like a social experience, to see if anyone
320 +
321 +81
322 +00:05:45,030 ~-~-> 00:05:49,980
323 +else could be, I guess, created the same way I was. And for
324 +
325 +82
326 +00:05:49,980 ~-~-> 00:05:53,310
327 +the most part, it didn't happen. So it was a failed
328 +
329 +83
330 +00:05:53,310 ~-~-> 00:05:57,270
331 +experiment in my eyes, but it was still fun to watch the
332 +
333 +84
334 +00:05:57,270 ~-~-> 00:06:00,900
335 +growth of some individuals that did pretty well with it. But
336 +
337 +85
338 +00:06:00,900 ~-~-> 00:06:04,050
339 +nobody came to the level I was hoping he would, by way of me
340 +
341 +86
342 +00:06:04,170 ~-~-> 00:06:08,910
343 +presenting the information. So with that, I'm going to ask
344 +
345 +87
346 +00:06:08,910 ~-~-> 00:06:11,400
347 +you a question. And this is rhetorical. Obviously, you guys
348 +
349 +88
350 +00:06:11,460 ~-~-> 00:06:14,160
351 +aren't going to be able to tell me what your responses are.
352 +
353 +89
354 +00:06:14,160 ~-~-> 00:06:16,860
355 +You can share them on Twitter, but it's really just a
356 +
357 +90
358 +00:06:17,100 ~-~-> 00:06:22,080
359 +rhetorical. What pair have you spent the most time looking
360 +
361 +91
362 +00:06:22,080 ~-~-> 00:06:25,410
363 +at? Now? There's no correct pair. Okay, please don't think
364 +
365 +92
366 +00:06:25,410 ~-~-> 00:06:30,180
367 +that there's one pair that's better than the other. Because
368 +
369 +93
370 +00:06:30,180 ~-~-> 00:06:33,240
371 +they all do the same thing. They all open, they'll post the
372 +
373 +94
374 +00:06:33,240 ~-~-> 00:06:36,330
375 +high, they'll post the low and the close and create a new
376 +
377 +95
378 +00:06:36,330 ~-~-> 00:06:41,190
379 +bar or new candle. So we're trying we're trading price. We
380 +
381 +96
382 +00:06:41,190 ~-~-> 00:06:44,520
383 +don't care so much about the particular currency. Now there
384 +
385 +97
386 +00:06:44,520 ~-~-> 00:06:47,760
387 +are times when certain currencies should be focused on
388 +
389 +98
390 +00:06:47,760 ~-~-> 00:06:49,680
391 +others, and that's completely outside the scope of this
392 +
393 +99
394 +00:06:49,680 ~-~-> 00:06:53,730
395 +discussion, but I want you to it at least, right now,
396 +
397 +100
398 +00:06:53,760 ~-~-> 00:06:58,830
399 +suspend your curiosity in chasing everything else and just
400 +
401 +101
402 +00:06:58,830 ~-~-> 00:07:03,720
403 +pick one pair It doesn't matter which pair it is. But today
404 +
405 +102
406 +00:07:03,750 ~-~-> 00:07:07,170
407 +as a goal I want you to know don't have to be decided at
408 +
409 +103
410 +00:07:07,170 ~-~-> 00:07:11,100
411 +this moment right now. But give it a day, think about what
412 +
413 +104
414 +00:07:11,100 ~-~-> 00:07:15,360
415 +currency pair you have gone to on your smartphone, or in
416 +
417 +105
418 +00:07:15,360 ~-~-> 00:07:17,430
419 +your demo account. Or maybe you've made the mistake of
420 +
421 +106
422 +00:07:17,430 ~-~-> 00:07:19,410
423 +opening a Live account right away without knowing anything,
424 +
425 +107
426 +00:07:19,830 ~-~-> 00:07:22,770
427 +and what pair you're trying to lose money on. Okay? Because
428 +
429 +108
430 +00:07:22,770 ~-~-> 00:07:24,090
431 +that's what you're doing. If you don't know what you're
432 +
433 +109
434 +00:07:24,090 ~-~-> 00:07:28,590
435 +doing, you're just basically trying to lose your money. And
436 +
437 +110
438 +00:07:28,590 ~-~-> 00:07:32,790
439 +there's, there's really no benefit in doing that. Okay. So,
440 +
441 +111
442 +00:07:32,970 ~-~-> 00:07:35,850
443 +we're going to assume that you have picked one of the
444 +
445 +112
446 +00:07:35,850 ~-~-> 00:07:39,930
447 +majors, okay, so if you're going to be profitable, and I was
448 +
449 +113
450 +00:07:39,930 ~-~-> 00:07:41,700
451 +going to be your goal when you start as a trader, hopefully
452 +
453 +114
454 +00:07:41,700 ~-~-> 00:07:43,920
455 +that's been the case for everyone, and you live in the
456 +
457 +115
458 +00:07:43,920 ~-~-> 00:07:47,940
459 +United States. My advice is to try to trade something that's
460 +
461 +116
462 +00:07:47,970 ~-~-> 00:07:51,300
463 +paired with the dollar index and just simply say this, when
464 +
465 +117
466 +00:07:51,300 ~-~-> 00:07:54,120
467 +you are profitable, you get better tax treatment when you
468 +
469 +118
470 +00:07:54,120 ~-~-> 00:07:57,540
471 +trade $1 based major, okay, and I'll just leave it at that.
472 +
473 +119
474 +00:07:58,650 ~-~-> 00:08:01,560
475 +So doesn't mean you can't Make money on the crosses, it just
476 +
477 +120
478 +00:08:01,560 ~-~-> 00:08:05,880
479 +means that the bulk of your volume would be better suited in
480 +
481 +121
482 +00:08:05,880 ~-~-> 00:08:10,110
483 +a major cross with $1. Okay. And I'm not here teaching tax
484 +
485 +122
486 +00:08:10,110 ~-~-> 00:08:13,140
487 +code, you talk to your tax preparer. They have to have some
488 +
489 +123
490 +00:08:13,140 ~-~-> 00:08:16,380
491 +knowledge and understanding about forex and concur with what
492 +
493 +124
494 +00:08:16,380 ~-~-> 00:08:20,820
495 +I just said. Okay. So we're going to assume you pick a
496 +
497 +125
498 +00:08:20,820 ~-~-> 00:08:25,470
499 +major, it could be euro, dollar, pound dollar, dollar,
500 +
501 +126
502 +00:08:25,470 ~-~-> 00:08:31,050
503 +swissy, dollar yen, dollar, CAD, Aussie dollar. Pick any one
504 +
505 +127
506 +00:08:31,050 ~-~-> 00:08:33,900
507 +of those, okay, and I'm not trying to promote one over the
508 +
509 +128
510 +00:08:33,900 ~-~-> 00:08:38,490
511 +other but I will just simply say that I am predominantly a
512 +
513 +129
514 +00:08:38,670 ~-~-> 00:08:44,250
515 +GBP USD or cable trader, British pound. I can tell you the
516 +
517 +130
518 +00:08:44,250 ~-~-> 00:08:46,830
519 +reason why I feel that way is because I started as a
520 +
521 +131
522 +00:08:46,830 ~-~-> 00:08:49,770
523 +commodity trader and the British pound the Deutsche Mark,
524 +
525 +132
526 +00:08:49,770 ~-~-> 00:08:53,310
527 +which there isn't a Deutsche Mark anymore. Those two pairs
528 +
529 +133
530 +00:08:53,580 ~-~-> 00:08:58,050
531 +or I'm sorry, currencies. I treated them predominantly the
532 +
533 +134
534 +00:08:58,080 ~-~-> 00:09:03,540
535 +most as a Currency Trader. And I had really good luck one
536 +
537 +135
538 +00:09:03,570 ~-~-> 00:09:07,830
539 +time in the Japanese yen. And then later time in my career,
540 +
541 +136
542 +00:09:08,040 ~-~-> 00:09:11,370
543 +it really stumped the crap out of me. And I just don't like
544 +
545 +137
546 +00:09:11,370 ~-~-> 00:09:13,800
547 +him. Okay, it doesn't mean that the things don't work in
548 +
549 +138
550 +00:09:13,800 ~-~-> 00:09:18,960
551 +yen. It's just I just don't want to try again because it's
552 +
553 +139
554 +00:09:18,960 ~-~-> 00:09:21,360
555 +in my head. It's all psychological. And I just don't want to
556 +
557 +140
558 +00:09:21,360 ~-~-> 00:09:25,950
559 +submit to having that engage anymore. So I personally don't
560 +
561 +141
562 +00:09:25,950 ~-~-> 00:09:30,300
563 +like in but some students do exceptionally well trading yen
564 +
565 +142
566 +00:09:30,300 ~-~-> 00:09:35,040
567 +pairs. So don't let me as a mentor or just some guy on the
568 +
569 +143
570 +00:09:35,040 ~-~-> 00:09:38,580
571 +internet talking about what he thinks is right. Don't let me
572 +
573 +144
574 +00:09:38,640 ~-~-> 00:09:41,160
575 +discourage you from doing any one particular pair of the
576 +
577 +145
578 +00:09:41,160 ~-~-> 00:09:43,590
579 +other. I'm just giving you my personal opinion because I get
580 +
581 +146
582 +00:09:43,590 ~-~-> 00:09:45,780
583 +a lot of this in email. So I'm trying to compress all that
584 +
585 +147
586 +00:09:45,780 ~-~-> 00:09:49,890
587 +into this short little presentation. So we're going to elect
588 +
589 +148
590 +00:09:49,980 ~-~-> 00:09:55,080
591 +to go with the euro dollar, and I'm going to use the euro
592 +
593 +149
594 +00:09:55,080 ~-~-> 00:09:59,640
595 +dollar because it's the most widely followed in all of the
596 +
597 +150
598 +00:09:59,640 ~-~-> 00:10:02,820
599 +Forex market and it's pretty liquid. It's very closely tied
600 +
601 +151
602 +00:10:02,820 ~-~-> 00:10:05,160
603 +to the Dollar Index, which, once you go through my
604 +
605 +152
606 +00:10:05,160 ~-~-> 00:10:07,290
607 +tutorials, you'll see that that's actually advantageous for
608 +
609 +153
610 +00:10:07,290 ~-~-> 00:10:10,290
611 +you because you want to be looking for the imbalances and
612 +
613 +154
614 +00:10:10,290 ~-~-> 00:10:13,770
615 +tug of war between the impulse price swings in the dollar.
616 +
617 +155
618 +00:10:14,100 ~-~-> 00:10:16,920
619 +They're going to be mirror images of what you see in the
620 +
621 +156
622 +00:10:16,920 ~-~-> 00:10:20,310
623 +euro dollar. And by that, I mean, if the dollar is bullish,
624 +
625 +157
626 +00:10:20,880 ~-~-> 00:10:22,620
627 +you're going to see extremely
628 +
629 +158
630 +00:10:24,059 ~-~-> 00:10:27,869
631 +perfectly timed bearishness on the euro dollar doesn't mean
632 +
633 +159
634 +00:10:27,869 ~-~-> 00:10:31,199
635 +it happens all the time. Okay, as you seen last week, we had
636 +
637 +160
638 +00:10:31,469 ~-~-> 00:10:36,449
639 +episodes where the euro dollar was held in a range, British
640 +
641 +161
642 +00:10:36,449 ~-~-> 00:10:40,379
643 +Pound was allowed to trade higher and lower in trend. And
644 +
645 +162
646 +00:10:40,379 ~-~-> 00:10:42,839
647 +that gives us an indication that there's a trade occurring
648 +
649 +163
650 +00:10:42,839 ~-~-> 00:10:45,419
651 +in euro pound. And again, that stuff's in the tutorials but
652 +
653 +164
654 +00:10:45,419 ~-~-> 00:10:48,269
655 +you got to dig it out and study it. But I'm going to give
656 +
657 +165
658 +00:10:48,269 ~-~-> 00:10:54,239
659 +you the bare bones core essentials to scalping and what I've
660 +
661 +166
662 +00:10:54,239 ~-~-> 00:10:57,209
663 +already given you is a complete system. It's absolutely
664 +
665 +167
666 +00:10:57,629 ~-~-> 00:11:00,749
667 +perfect for a new trader because it gives you The context to
668 +
669 +168
670 +00:11:00,749 ~-~-> 00:11:04,289
671 +go in to the charts study, look for certain things and
672 +
673 +169
674 +00:11:04,289 ~-~-> 00:11:06,749
675 +you're not wasting your time, you'll be able to see things
676 +
677 +170
678 +00:11:06,749 ~-~-> 00:11:10,019
679 +that repeat they have to have a reoccurrence factor. Okay,
680 +
681 +171
682 +00:11:10,019 ~-~-> 00:11:13,529
683 +if what you're studying doesn't have the ability to be
684 +
685 +172
686 +00:11:13,589 ~-~-> 00:11:17,549
687 +replicated at least a few times a week, you're probably not
688 +
689 +173
690 +00:11:17,549 ~-~-> 00:11:22,169
691 +studying anything that has any valid validity or substance,
692 +
693 +174
694 +00:11:22,319 ~-~-> 00:11:24,389
695 +you're probably looking at indicators and stuff. And the
696 +
697 +175
698 +00:11:24,389 ~-~-> 00:11:26,639
699 +only indicator you're going to see on my chart is a
700 +
701 +176
702 +00:11:26,639 ~-~-> 00:11:29,819
703 +Fibonacci. And the only thing I'm highlighting there is a
704 +
705 +177
706 +00:11:29,819 ~-~-> 00:11:33,659
707 +target or a specific range and where I think a entry should
708 +
709 +178
710 +00:11:33,659 ~-~-> 00:11:38,399
711 +occur, do not fall prey to the idea that everything I'm
712 +
713 +179
714 +00:11:38,399 ~-~-> 00:11:41,489
715 +doing hinges solely on the basis of Fibonacci, because it's
716 +
717 +180
718 +00:11:41,489 ~-~-> 00:11:44,729
719 +not believe me, I don't even need that Fibonacci. But the
720 +
721 +181
722 +00:11:44,729 ~-~-> 00:11:48,149
723 +Fibonacci as a teacher, helps me draw your attention to a
724 +
725 +182
726 +00:11:48,149 ~-~-> 00:11:50,429
727 +level I've already arrived that and you're not going to
728 +
729 +183
730 +00:11:50,429 ~-~-> 00:11:57,269
731 +believe me, but I knew this high at 116 55 was probable last
732 +
733 +184
734 +00:11:57,269 ~-~-> 00:12:04,679
735 +Friday. Last Friday at midnight, last Friday. Now you're not
736 +
737 +185
738 +00:12:04,679 ~-~-> 00:12:07,949
739 +gonna believe me, okay? But I don't think I'm not trying to
740 +
741 +186
742 +00:12:07,949 ~-~-> 00:12:10,799
743 +convince you that here today, but there are certain concepts
744 +
745 +187
746 +00:12:11,099 ~-~-> 00:12:15,089
747 +that repeat themselves with a great deal of precision. And
748 +
749 +188
750 +00:12:15,089 ~-~-> 00:12:19,799
751 +they're like clockwork. So if we have to suspend our
752 +
753 +189
754 +00:12:19,829 ~-~-> 00:12:23,399
755 +disbelief about the markets being 100% manipulated to the
756 +
757 +190
758 +00:12:23,399 ~-~-> 00:12:26,729
759 +degree that that daily high and the daily low is already pre
760 +
761 +191
762 +00:12:26,729 ~-~-> 00:12:30,809
763 +determined before the day even begins. So in your notepad,
764 +
765 +192
766 +00:12:30,869 ~-~-> 00:12:33,209
767 +if you don't have a notepad next time we watch a live
768 +
769 +193
770 +00:12:33,209 ~-~-> 00:12:36,449
771 +session, because anything can happen. YouTube could go on
772 +
773 +194
774 +00:12:36,449 ~-~-> 00:12:41,249
775 +the fritz, maybe nine, my compiler doesn't record the video,
776 +
777 +195
778 +00:12:41,429 ~-~-> 00:12:44,639
779 +and you'll lose the insights that I get, sometimes won't
780 +
781 +196
782 +00:12:44,639 ~-~-> 00:12:47,579
783 +remember what I said, because I'm really not trying to work
784 +
785 +197
786 +00:12:47,579 ~-~-> 00:12:51,089
787 +with a script. I know what I want to deliver in such a small
788 +
789 +198
790 +00:12:51,089 ~-~-> 00:12:54,029
791 +little segment of insight, but I want to give you some
792 +
793 +199
794 +00:12:54,029 ~-~-> 00:12:56,999
795 +foundation and also if I can always try to throw little
796 +
797 +200
798 +00:12:56,999 ~-~-> 00:13:00,929
799 +answers to email questions that kind of segue with what I'm
800 +
801 +201
802 +00:13:00,929 ~-~-> 00:13:05,129
803 +teaching. But in your notepad, I want you to write down,
804 +
805 +202
806 +00:13:05,399 ~-~-> 00:13:11,039
807 +Price Is 100% manipulated, and the daily high and daily low
808 +
809 +203
810 +00:13:11,069 ~-~-> 00:13:17,069
811 +are already pre determined at midnight, New York time. So
812 +
813 +204
814 +00:13:17,069 ~-~-> 00:13:21,749
815 +that means midnight last night for me, it's seven hours and
816 +
817 +205
818 +00:13:21,749 ~-~-> 00:13:26,219
819 +21 minutes ago, the daily high and low has already been pre
820 +
821 +206
822 +00:13:26,219 ~-~-> 00:13:31,529
823 +determined for euro dollar. It our era has been determined.
824 +
825 +207
826 +00:13:32,819 ~-~-> 00:13:38,759
827 +Now, you don't know what that is. I don't always know what
828 +
829 +208
830 +00:13:38,759 ~-~-> 00:13:42,779
831 +it is. But there are certain times of the week where certain
832 +
833 +209
834 +00:13:42,779 ~-~-> 00:13:48,539
835 +things align where I had the strongest. Well, I guess
836 +
837 +210
838 +00:13:48,629 ~-~-> 00:13:51,989
839 +probability that I know where the daily high or low is going
840 +
841 +211
842 +00:13:51,989 ~-~-> 00:13:56,279
843 +to be. I've given you several examples of it on Twitter, in
844 +
845 +212
846 +00:13:56,279 ~-~-> 00:13:59,279
847 +video. Yeah, I've already shown you that I've shown you
848 +
849 +213
850 +00:13:59,279 ~-~-> 00:14:03,779
851 +trade example. Now, it's not imperative that you know that
852 +
853 +214
854 +00:14:03,779 ~-~-> 00:14:06,779
855 +this is the high and therefore you hold to get out exactly
856 +
857 +215
858 +00:14:06,779 ~-~-> 00:14:10,679
859 +at 116 55. Because to do that is going to be detrimental to
860 +
861 +216
862 +00:14:10,679 ~-~-> 00:14:13,379
863 +your bottom line because you're going to sometimes get it
864 +
865 +217
866 +00:14:13,379 ~-~-> 00:14:18,659
867 +wrong. But you don't need to have that actual high. For
868 +
869 +218
870 +00:14:18,659 ~-~-> 00:14:21,839
871 +instance, I'll give you an example. And this is to set your
872 +
873 +219
874 +00:14:21,839 ~-~-> 00:14:26,279
875 +expectations. I'm not trying to talk to hear myself, okay,
876 +
877 +220
878 +00:14:26,279 ~-~-> 00:14:28,169
879 +I'm not trying to waste your time. But what I'm saying here
880 +
881 +221
882 +00:14:28,199 ~-~-> 00:14:35,099
883 +me means a lot to take. Take note on this. If we know by way
884 +
885 +222
886 +00:14:35,099 ~-~-> 00:14:40,139
887 +of our tools, or what I'm teaching you, if see if we know
888 +
889 +223
890 +00:14:40,829 ~-~-> 00:14:44,429
891 +that there's a strong probability, that particular pair to
892 +
893 +224
894 +00:14:44,429 ~-~-> 00:14:46,589
895 +work following this case, we're using the Euro dollars in
896 +
897 +225
898 +00:14:46,589 ~-~-> 00:14:47,129
899 +example,
900 +
901 +226
902 +00:14:48,809 ~-~-> 00:14:53,369
903 +if they can go to 116 55 as a daily high, and you've gotten
904 +
905 +227
906 +00:14:53,369 ~-~-> 00:14:56,399
907 +an opportunity to get long, say down here in the New York
908 +
909 +228
910 +00:14:56,399 ~-~-> 00:15:00,179
911 +session or if you have a London close continuation with is
912 +
913 +229
914 +00:15:00,179 ~-~-> 00:15:03,929
915 +what this is here, optimal trade entry. If either one of
916 +
917 +230
918 +00:15:03,929 ~-~-> 00:15:08,429
919 +those are used to get in and your convictions are that we're
920 +
921 +231
922 +00:15:08,429 ~-~-> 00:15:12,749
923 +probably going to see the interbank algorithm print a daily
924 +
925 +232
926 +00:15:12,749 ~-~-> 00:15:18,959
927 +high of 116 55. If that's the case, don't demand such
928 +
929 +233
930 +00:15:18,959 ~-~-> 00:15:23,759
931 +precision that you hold for that exit price. Now, I Showboat
932 +
933 +234
934 +00:15:23,789 ~-~-> 00:15:27,359
935 +online to prove to other people that what I talked about is
936 +
937 +235
938 +00:15:27,359 ~-~-> 00:15:31,949
939 +really there. I gave you the chart, I wait, I wait and wait
940 +
941 +236
942 +00:15:31,949 ~-~-> 00:15:34,319
943 +and wait until the hits the levels I want. And I
944 +
945 +237
946 +00:15:34,319 ~-~-> 00:15:36,569
947 +screencapture right when it happens, so that way you guys
948 +
949 +238
950 +00:15:36,569 ~-~-> 00:15:39,599
951 +can see it. Be go on Twitter, you'll see that's actually the
952 +
953 +239
954 +00:15:39,599 ~-~-> 00:15:43,739
955 +very high on this candle. This particular ones right here
956 +
957 +240
958 +00:15:43,739 ~-~-> 00:15:47,429
959 +ain't gonna pop up on this recording, but the actual high
960 +
961 +241
962 +00:15:47,429 ~-~-> 00:15:51,419
963 +comes in at 116 55. As the candle was creating that high, it
964 +
965 +242
966 +00:15:51,419 ~-~-> 00:15:54,779
967 +never went any higher than that. And it traded lower as a
968 +
969 +243
970 +00:15:54,779 ~-~-> 00:15:59,999
971 +result. I do that to prove to the doubters also to reenter
972 +
973 +244
974 +00:15:59,999 ~-~-> 00:16:02,729
975 +For the people that are trying to learn from me that is
976 +
977 +245
978 +00:16:02,729 ~-~-> 00:16:08,279
979 +absolutely predictable. Now, predictability is not the same
980 +
981 +246
982 +00:16:08,279 ~-~-> 00:16:11,669
983 +as profitability because you can still screw up you can
984 +
985 +247
986 +00:16:11,669 ~-~-> 00:16:16,409
987 +still demand absolution okay? And you're not going to find
988 +
989 +248
990 +00:16:16,409 ~-~-> 00:16:19,619
991 +that okay? There's no forex Jesus, okay, you can pray all
992 +
993 +249
994 +00:16:19,619 ~-~-> 00:16:23,549
995 +you want about the market doing what you want to do anything
996 +
997 +250
998 +00:16:23,579 ~-~-> 00:16:27,059
999 +you want to do it, okay? So you have to have a rule based
1000 +
1001 +251
1002 +00:16:27,059 ~-~-> 00:16:31,079
1003 +idea. So my, the way I interpret intraday price action is I
1004 +
1005 +252
1006 +00:16:31,079 ~-~-> 00:16:32,999
1007 +want to get a rough idea where I think the daily higher
1008 +
1009 +253
1010 +00:16:32,999 ~-~-> 00:16:37,349
1011 +daily low is going to be. Compare that with a bias. Okay,
1012 +
1013 +254
1014 +00:16:37,349 ~-~-> 00:16:40,439
1015 +and you have to have a bias traders to say or instructors, I
1016 +
1017 +255
1018 +00:16:40,439 ~-~-> 00:16:44,279
1019 +say that with quotations in my hands. They'll say you don't
1020 +
1021 +256
1022 +00:16:44,279 ~-~-> 00:16:46,409
1023 +trade with a bias. It's foolish. Those people don't know
1024 +
1025 +257
1026 +00:16:46,409 ~-~-> 00:16:48,359
1027 +what they're talking about. Okay, they have no idea what
1028 +
1029 +258
1030 +00:16:48,359 ~-~-> 00:16:50,279
1031 +you're talking about. And they had no business trying to
1032 +
1033 +259
1034 +00:16:50,279 ~-~-> 00:16:52,919
1035 +tell anyone what to do, because if they're doing anything at
1036 +
1037 +260
1038 +00:16:52,919 ~-~-> 00:16:56,429
1039 +all, they're misleading you. I'm telling you the truth.
1040 +
1041 +261
1042 +00:16:56,669 ~-~-> 00:16:59,099
1043 +These markets are manipulated. They're absolutely not for
1044 +
1045 +262
1046 +00:16:59,099 ~-~-> 00:17:03,479
1047 +your benefit. They are out there to whale. Okay. And that
1048 +
1049 +263
1050 +00:17:03,479 ~-~-> 00:17:06,839
1051 +means they're going after big, large institutional funds.
1052 +
1053 +264
1054 +00:17:07,139 ~-~-> 00:17:09,359
1055 +That's what this is now, yes, there's global commerce that
1056 +
1057 +265
1058 +00:17:09,359 ~-~-> 00:17:13,439
1059 +they actually are used to facilitate global commerce and
1060 +
1061 +266
1062 +00:17:13,739 ~-~-> 00:17:16,799
1063 +transactions between countries and nations and doing
1064 +
1065 +267
1066 +00:17:16,799 ~-~-> 00:17:19,589
1067 +business and stuff. Yeah, that's wonderful. But there's also
1068 +
1069 +268
1070 +00:17:19,589 ~-~-> 00:17:22,379
1071 +opportunity there. And the opportunity is to go after large
1072 +
1073 +269
1074 +00:17:22,379 ~-~-> 00:17:25,799
1075 +liquidity basis. And that's not going to be retail. Retail
1076 +
1077 +270
1078 +00:17:25,799 ~-~-> 00:17:29,999
1079 +is not even on the radar. So if we understand that, that is
1080 +
1081 +271
1082 +00:17:29,999 ~-~-> 00:17:33,299
1083 +how these markets are operating on a day by day basis, and
1084 +
1085 +272
1086 +00:17:33,299 ~-~-> 00:17:36,599
1087 +it's the largest market in the world, and it's ran by the
1088 +
1089 +273
1090 +00:17:36,599 ~-~-> 00:17:39,239
1091 +banks, which, you know, banks don't open up to go into bit
1092 +
1093 +274
1094 +00:17:39,269 ~-~-> 00:17:42,119
1095 +go out of business, they tend to stay in the business or be
1096 +
1097 +275
1098 +00:17:42,119 ~-~-> 00:17:47,039
1099 +consumed by larger bank. If we have that understanding, we
1100 +
1101 +276
1102 +00:17:47,039 ~-~-> 00:17:49,469
1103 +know that there's a large degree of probability that the
1104 +
1105 +277
1106 +00:17:49,469 ~-~-> 00:17:51,989
1107 +daily higher daily low is going to be pre determined at
1108 +
1109 +278
1110 +00:17:51,989 ~-~-> 00:17:55,379
1111 +midnight every single day. And once we know what that level
1112 +
1113 +279
1114 +00:17:55,379 ~-~-> 00:17:58,379
1115 +is, and we compare it with a bias towards if we're bullish
1116 +
1117 +280
1118 +00:17:58,379 ~-~-> 00:18:02,969
1119 +on the euro dollar As indicated yesterday, okay with optimal
1120 +
1121 +281
1122 +00:18:02,969 ~-~-> 00:18:07,739
1123 +trade entry here, and what happened in here. My advice to
1124 +
1125 +282
1126 +00:18:07,739 ~-~-> 00:18:11,669
1127 +you is if you know these things here, okay, and I'm going to
1128 +
1129 +283
1130 +00:18:11,669 ~-~-> 00:18:14,339
1131 +give you things in my tutorials that help you get to this.
1132 +
1133 +284
1134 +00:18:14,339 ~-~-> 00:18:17,369
1135 +Now, it's not going to be this precise. This is something
1136 +
1137 +285
1138 +00:18:17,369 ~-~-> 00:18:21,479
1139 +that is taught in my mentorship. But in the tutorials, I've
1140 +
1141 +286
1142 +00:18:21,509 ~-~-> 00:18:25,529
1143 +given many instances on how you can get real close to this
1144 +
1145 +287
1146 +00:18:25,529 ~-~-> 00:18:29,129
1147 +number. So I'll give you an example. I teach the 50 levels
1148 +
1149 +288
1150 +00:18:29,429 ~-~-> 00:18:33,449
1151 +and the double zero big figure levels are significant. I
1152 +
1153 +289
1154 +00:18:33,449 ~-~-> 00:18:35,429
1155 +want you and this is something you write down in your
1156 +
1157 +290
1158 +00:18:35,429 ~-~-> 00:18:37,379
1159 +notepad right now because this homework for you this all
1160 +
1161 +291
1162 +00:18:37,379 ~-~-> 00:18:42,449
1163 +week, I want you to put every 50 level in every full figure
1164 +
1165 +292
1166 +00:18:42,479 ~-~-> 00:18:45,899
1167 +00 level and what does that mean? Go to your horizontal
1168 +
1169 +293
1170 +00:18:45,899 ~-~-> 00:18:51,089
1171 +line. Okay, and we're going to drop it onto a 50 we're gonna
1172 +
1173 +294
1174 +00:18:51,359 ~-~-> 00:18:57,449
1175 +build it better. So it's on 116 50 and then we're going to
1176 +
1177 +295
1178 +00:18:57,449 ~-~-> 00:19:09,899
1179 +go down to one 16 00 eyes are still not awake yet. So I
1180 +
1181 +296
1182 +00:19:09,899 ~-~-> 00:19:11,669
1183 +apologize for being a little
1184 +
1185 +297
1186 +00:19:14,309 ~-~-> 00:19:17,759
1187 +slow on the deliver here. Okay, so we have 116, big figure,
1188 +
1189 +298
1190 +00:19:18,089 ~-~-> 00:19:21,779
1191 +and 116 50, mid figure, okay, you'll hear these terms used a
1192 +
1193 +299
1194 +00:19:21,779 ~-~-> 00:19:28,439
1195 +lot in my tutorials, I want you to put your 15 00 levels on
1196 +
1197 +300
1198 +00:19:28,469 ~-~-> 00:19:31,979
1199 +the currency pair that you're going to follow. Okay? And I
1200 +
1201 +301
1202 +00:19:31,979 ~-~-> 00:19:34,649
1203 +want you to use wherever the prices right now, right now
1204 +
1205 +302
1206 +00:19:34,649 ~-~-> 00:19:39,089
1207 +it's trading at 1630. So the next two levels above and
1208 +
1209 +303
1210 +00:19:39,089 ~-~-> 00:19:45,299
1211 +below, it's the 50 level and the 00 level, okay? inside of
1212 +
1213 +304
1214 +00:19:45,299 ~-~-> 00:19:49,679
1215 +that price is going to do all kinds of gyrations. ignore it.
1216 +
1217 +305
1218 +00:19:50,099 ~-~-> 00:19:53,369
1219 +Don't do anything with it. Okay. I want you to wait until
1220 +
1221 +306
1222 +00:19:53,369 ~-~-> 00:19:56,849
1223 +price trades to one of these levels, the 50 level or the 00
1224 +
1225 +307
1226 +00:19:56,849 ~-~-> 00:20:01,649
1227 +level. Okay, and then wait for a reaction. It could come
1228 +
1229 +308
1230 +00:20:01,649 ~-~-> 00:20:05,519
1231 +down to 16 00. In bounce, come up and create a retracement.
1232 +
1233 +309
1234 +00:20:05,519 ~-~-> 00:20:08,639
1235 +And that could be an apple trade entry for a day trade and
1236 +
1237 +310
1238 +00:20:08,639 ~-~-> 00:20:11,879
1239 +test it. I'm not telling you to put live money on any of
1240 +
1241 +311
1242 +00:20:11,879 ~-~-> 00:20:15,119
1243 +this, I'm telling you, the practice the reactions off the 50
1244 +
1245 +312
1246 +00:20:15,119 ~-~-> 00:20:17,939
1247 +level and the 000 level, the mid figures and the big
1248 +
1249 +313
1250 +00:20:17,939 ~-~-> 00:20:22,889
1251 +figures. If we watch these levels over time, you're going to
1252 +
1253 +314
1254 +00:20:22,889 ~-~-> 00:20:27,719
1255 +see every setup that you'd ever need is on these levels. And
1256 +
1257 +315
1258 +00:20:27,719 ~-~-> 00:20:31,739
1259 +it's because of the interbank volume. And the banks
1260 +
1261 +316
1262 +00:20:31,739 ~-~-> 00:20:34,919
1263 +themselves like to work off these levels. They'll defend big
1264 +
1265 +317
1266 +00:20:34,919 ~-~-> 00:20:37,109
1267 +figures and mid figures at these levels. There's going to be
1268 +
1269 +318
1270 +00:20:37,109 ~-~-> 00:20:39,449
1271 +a lot of orders, which is what makes these markets move
1272 +
1273 +319
1274 +00:20:39,449 ~-~-> 00:20:42,839
1275 +around. It's not indicators, none of this stuff, and you'll
1276 +
1277 +320
1278 +00:20:42,839 ~-~-> 00:20:47,099
1279 +be surprised that most most folks believe that the chart
1280 +
1281 +321
1282 +00:20:47,099 ~-~-> 00:20:51,689
1283 +itself pushes price and charts are only reflecting the
1284 +
1285 +322
1286 +00:20:51,689 ~-~-> 00:20:57,809
1287 +sentiment and actions of actual transactions. banks don't
1288 +
1289 +323
1290 +00:20:57,809 ~-~-> 00:21:02,099
1291 +trade with charts. Okay. It's, it's like a misnomer to you,
1292 +
1293 +324
1294 +00:21:02,399 ~-~-> 00:21:05,429
1295 +I'm smart money because I'm using the four hour chart now
1296 +
1297 +325
1298 +00:21:05,789 ~-~-> 00:21:10,259
1299 +it's my way for me to communicate to you the order base that
1300 +
1301 +326
1302 +00:21:10,259 ~-~-> 00:21:13,589
1303 +will be around that particular price level and it's easily
1304 +
1305 +327
1306 +00:21:15,479 ~-~-> 00:21:18,869
1307 +seen and observed on a higher timeframe intraday chart like
1308 +
1309 +328
1310 +00:21:18,869 ~-~-> 00:21:24,659
1311 +a four hour. So don't think that there's any particular
1312 +
1313 +329
1314 +00:21:24,659 ~-~-> 00:21:28,649
1315 +magic that a down close candle supports price. It's that's
1316 +
1317 +330
1318 +00:21:28,649 ~-~-> 00:21:32,669
1319 +not it either order blocks are not it. It's just one small
1320 +
1321 +331
1322 +00:21:32,669 ~-~-> 00:21:36,569
1323 +component to a larger hole that you'll need to consume in my
1324 +
1325 +332
1326 +00:21:36,569 ~-~-> 00:21:40,469
1327 +content. But for intraday basis, I want you to focus on 00
1328 +
1329 +333
1330 +00:21:40,469 ~-~-> 00:21:45,179
1331 +levels, and 50 levels. Okay, and just for homework, go back
1332 +
1333 +334
1334 +00:21:45,179 ~-~-> 00:21:48,449
1335 +through your currency pair. It's real simple. I mean, this
1336 +
1337 +335
1338 +00:21:48,449 ~-~-> 00:21:50,819
1339 +is drag it to the left. And you'll see there's a lot of
1340 +
1341 +336
1342 +00:21:50,819 ~-~-> 00:21:55,049
1343 +instances where price creates opportunities at these levels.
1344 +
1345 +337
1346 +00:21:55,229 ~-~-> 00:21:58,889
1347 +Now, you might have to wait. That's beautiful because it's
1348 +
1349 +338
1350 +00:21:58,889 ~-~-> 00:22:04,349
1351 +going to teach you patience. If you have the 50 00 level and
1352 +
1353 +339
1354 +00:22:04,349 ~-~-> 00:22:06,449
1355 +you wait for opportunities to price trades to these
1356 +
1357 +340
1358 +00:22:06,479 ~-~-> 00:22:09,269
1359 +particular well here's why we're here. Now what I mean when
1360 +
1361 +341
1362 +00:22:09,269 ~-~-> 00:22:11,309
1363 +it gets to these levels I'm not saying it hits the level
1364 +
1365 +342
1366 +00:22:11,309 ~-~-> 00:22:14,309
1367 +exactly and bounces, it just means around that level and
1368 +
1369 +343
1370 +00:22:14,309 ~-~-> 00:22:17,909
1371 +I'll give you the perfect example here. Price runs here
1372 +
1373 +344
1374 +00:22:18,509 ~-~-> 00:22:20,759
1375 +creates a small little Let me see if it works too high
1376 +
1377 +345
1378 +00:22:20,759 ~-~-> 00:22:25,949
1379 +because I'm not sure if I can show it to you there. Okay,
1380 +
1381 +346
1382 +00:22:25,949 ~-~-> 00:22:32,189
1383 +lost it. There it is. Alright, so we have price creating a
1384 +
1385 +347
1386 +00:22:32,189 ~-~-> 00:22:36,239
1387 +high at 116 oh seven and the last high comes in at exactly
1388 +
1389 +348
1390 +00:22:36,239 ~-~-> 00:22:38,579
1391 +116 or seven. So it really didn't create one there. It would
1392 +
1393 +349
1394 +00:22:38,579 ~-~-> 00:22:42,599
1395 +have been better had it been broke the short term high. But
1396 +
1397 +350
1398 +00:22:43,289 ~-~-> 00:22:46,199
1399 +that is an awful trade entry. a retracement it would be a
1400 +
1401 +351
1402 +00:22:46,199 ~-~-> 00:22:50,249
1403 +79% tradesmen level thereby I only but you can see the
1404 +
1405 +352
1406 +00:22:50,369 ~-~-> 00:22:53,999
1407 +overall pattern. This is what you would expect to see around
1408 +
1409 +353
1410 +00:22:54,419 ~-~-> 00:22:59,219
1411 +the big figures your level or the 50 level. Okay and
1412 +
1413 +354
1414 +00:22:59,309 ~-~-> 00:23:02,729
1415 +eventually Time, you're going to graduate to adding the 80
1416 +
1417 +355
1418 +00:23:02,729 ~-~-> 00:23:05,249
1419 +level and the 20 level. And that's it, you need nothing
1420 +
1421 +356
1422 +00:23:05,249 ~-~-> 00:23:07,319
1423 +else, you don't need to worry about drawing support
1424 +
1425 +357
1426 +00:23:07,319 ~-~-> 00:23:09,989
1427 +resistance lines on your charts. You don't need to worry
1428 +
1429 +358
1430 +00:23:09,989 ~-~-> 00:23:15,569
1431 +about putting, you know, any kind of, well, whatever kind of
1432 +
1433 +359
1434 +00:23:15,569 ~-~-> 00:23:18,959
1435 +lipstick you usually put on your charts. The books taught me
1436 +
1437 +360
1438 +00:23:19,229 ~-~-> 00:23:21,989
1439 +use an old high, draw a line across it and prices either
1440 +
1441 +361
1442 +00:23:21,989 ~-~-> 00:23:24,749
1443 +gonna hit it and repel from resistance or break soon come
1444 +
1445 +362
1446 +00:23:24,749 ~-~-> 00:23:27,059
1447 +down find support. And I can tell you I've lost hundreds of
1448 +
1449 +363
1450 +00:23:27,059 ~-~-> 00:23:28,229
1451 +thousands of dollars don't add.
1452 +
1453 +364
1454 +00:23:29,580 ~-~-> 00:23:33,030
1455 +It doesn't it doesn't work, because it doesn't give you any
1456 +
1457 +365
1458 +00:23:33,030 ~-~-> 00:23:36,870
1459 +context about why that level should be traded on the basis
1460 +
1461 +366
1462 +00:23:36,900 ~-~-> 00:23:41,040
1463 +of order flow. Now not order flows in the form of market
1464 +
1465 +367
1466 +00:23:41,040 ~-~-> 00:23:43,980
1467 +profile footprint depth of market, I'm not talking about
1468 +
1469 +368
1470 +00:23:43,980 ~-~-> 00:23:48,030
1471 +that. That's entirely outside the scope of what I do. What I
1472 +
1473 +369
1474 +00:23:48,030 ~-~-> 00:23:52,230
1475 +internalize is why the market should have orders around
1476 +
1477 +370
1478 +00:23:52,230 ~-~-> 00:23:55,410
1479 +specific levels. So regardless of what style of trading
1480 +
1481 +371
1482 +00:23:55,410 ~-~-> 00:23:58,350
1483 +you're going to be, I'm teaching predominantly scalping now
1484 +
1485 +372
1486 +00:23:58,740 ~-~-> 00:24:01,530
1487 +because it gives you the ability To go in and do a lot of
1488 +
1489 +373
1490 +00:24:01,530 ~-~-> 00:24:04,800
1491 +research, a lot of examples, and the things that you learn
1492 +
1493 +374
1494 +00:24:04,800 ~-~-> 00:24:07,590
1495 +in price action on scouting will be beneficial for you. And
1496 +
1497 +375
1498 +00:24:07,590 ~-~-> 00:24:11,460
1499 +all of the types of trading you can do. So, in summary,
1500 +
1501 +376
1502 +00:24:12,060 ~-~-> 00:24:14,610
1503 +okay, and then we get to the nuts and bolts on closest
1504 +
1505 +377
1506 +00:24:14,610 ~-~-> 00:24:19,320
1507 +video, we have the 00 level, big figure, the 50 level and in
1508 +
1509 +378
1510 +00:24:19,320 ~-~-> 00:24:24,000
1511 +between that we have 50 and 00. What was the level I told
1512 +
1513 +379
1514 +00:24:24,000 ~-~-> 00:24:31,650
1515 +you to watch? The 20 level. Okay, so we want to have our
1516 +
1517 +380
1518 +00:24:31,650 ~-~-> 00:24:41,700
1519 +level at 1620 and the other one would be 16 ad. And that's
1520 +
1521 +381
1522 +00:24:41,700 ~-~-> 00:24:47,640
1523 +here. Okay. And the next will be 17 00. Okay. So that way,
1524 +
1525 +382
1526 +00:24:47,670 ~-~-> 00:24:49,680
1527 +guess what, we've already done all of our work for support
1528 +
1529 +383
1530 +00:24:49,680 ~-~-> 00:24:56,340
1531 +resistance. But it's that easy. Yes. It's not easy, because
1532 +
1533 +384
1534 +00:24:56,580 ~-~-> 00:25:00,360
1535 +my interpretation of price action is I know what Banks are
1536 +
1537 +385
1538 +00:25:00,360 ~-~-> 00:25:02,490
1539 +going to do I know what large institutions are going to do.
1540 +
1541 +386
1542 +00:25:02,910 ~-~-> 00:25:05,340
1543 +Because you can see it yourself going to charts and pull the
1544 +
1545 +387
1546 +00:25:05,340 ~-~-> 00:25:08,610
1547 +same levels up and go back over price action. You'll see it
1548 +
1549 +388
1550 +00:25:08,610 ~-~-> 00:25:13,500
1551 +there. Okay, I gave you an example of earlier, excuse me the
1552 +
1553 +389
1554 +00:25:14,940 ~-~-> 00:25:16,830
1555 +example earlier where it didn't really give me the apple
1556 +
1557 +390
1558 +00:25:16,830 ~-~-> 00:25:24,210
1559 +trade optimal trade entry. Let's do this. Alright, so if we
1560 +
1561 +391
1562 +00:25:24,210 ~-~-> 00:25:27,840
1563 +have that range here, and I know it doesn't qualify for the
1564 +
1565 +392
1566 +00:25:27,840 ~-~-> 00:25:31,050
1567 +setup, but I want you to see this is the reaction you get
1568 +
1569 +393
1570 +00:25:31,050 ~-~-> 00:25:34,230
1571 +off of it. But look how the lookout forms around the big
1572 +
1573 +394
1574 +00:25:34,230 ~-~-> 00:25:38,280
1575 +figure. And then later on this same price action here, I
1576 +
1577 +395
1578 +00:25:38,280 ~-~-> 00:25:40,650
1579 +told you about the optimal trade entry example here
1580 +
1581 +396
1582 +00:25:40,650 ~-~-> 00:25:44,820
1583 +yesterday, look where it occurs on the big figure 16. Now
1584 +
1585 +397
1586 +00:25:44,820 ~-~-> 00:25:48,270
1587 +that's not a coincidence. That's just the way it works. And
1588 +
1589 +398
1590 +00:25:48,270 ~-~-> 00:25:51,030
1591 +what about up here?
1592 +
1593 +399
1594 +00:25:56,880 ~-~-> 00:25:58,980
1595 +Isn't that an optimal trade entry? I gave you the daily high
1596 +
1597 +400
1598 +00:25:58,980 ~-~-> 00:26:05,910
1599 +yesterday. Look at the opportunity to tier highest body open
1600 +
1601 +401
1602 +00:26:05,910 ~-~-> 00:26:10,800
1603 +or close down to the lowest body open or close. Perfect 279.
1604 +
1605 +402
1606 +00:26:11,100 ~-~-> 00:26:14,130
1607 +Yes, I'm tracing level cells off. And then here's another
1608 +
1609 +403
1610 +00:26:14,130 ~-~-> 00:26:19,800
1611 +one smaller one sells off. There you go symmetrical price
1612 +
1613 +404
1614 +00:26:19,800 ~-~-> 00:26:23,790
1615 +swing. So I gave you real institutional support resistance.
1616 +
1617 +405
1618 +00:26:24,660 ~-~-> 00:26:27,540
1619 +I told you how to find the optimal trade entries on a scalp.
1620 +
1621 +406
1622 +00:26:29,100 ~-~-> 00:26:31,860
1623 +They set up easy. You're not scratching your head looking at
1624 +
1625 +407
1626 +00:26:31,860 ~-~-> 00:26:35,040
1627 +the chart saying, good grief. What support resistance do I
1628 +
1629 +408
1630 +00:26:35,040 ~-~-> 00:26:39,210
1631 +use? What supply and demand zone do I use? What you know?
1632 +
1633 +409
1634 +00:26:40,470 ~-~-> 00:26:44,580
1635 +I'm being facetious now, but I want you to know that the
1636 +
1637 +410
1638 +00:26:44,580 ~-~-> 00:26:48,780
1639 +folks that try to teach you these things, okay. In terms of
1640 +
1641 +411
1642 +00:26:48,780 ~-~-> 00:26:52,380
1643 +technical analysis, they have for the most part at zero
1644 +
1645 +412
1646 +00:26:52,380 ~-~-> 00:26:55,470
1647 +understanding of what goes on in institutional basis. Okay.
1648 +
1649 +413
1650 +00:26:56,190 ~-~-> 00:27:00,000
1651 +support resistance are based on orders. They're not based on
1652 +
1653 +414
1654 +00:27:00,000 ~-~-> 00:27:03,750
1655 +Anything other than that. So without having an understanding
1656 +
1657 +415
1658 +00:27:03,750 ~-~-> 00:27:06,330
1659 +of why price is going to move and gyrate around specific
1660 +
1661 +416
1662 +00:27:06,330 ~-~-> 00:27:09,210
1663 +levels, you're going to be losing money, you're going to
1664 +
1665 +417
1666 +00:27:09,210 ~-~-> 00:27:10,920
1667 +hemorrhage money, and then you're going to go into this
1668 +
1669 +418
1670 +00:27:10,920 ~-~-> 00:27:15,510
1671 +cycle where looking for things, and having no understanding
1672 +
1673 +419
1674 +00:27:15,510 ~-~-> 00:27:18,240
1675 +or definition of what it is you're looking for. It's gonna
1676 +
1677 +420
1678 +00:27:18,240 ~-~-> 00:27:22,500
1679 +frustrate you. And the human characteristic in us is going
1680 +
1681 +421
1682 +00:27:22,500 ~-~-> 00:27:25,590
1683 +to be, well, what I just did didn't work. So I need to do it
1684 +
1685 +422
1686 +00:27:25,590 ~-~-> 00:27:29,400
1687 +harder, immediately. Because I need to have the reaction I
1688 +
1689 +423
1690 +00:27:29,400 ~-~-> 00:27:33,150
1691 +want and then trading, that is the death sentence for you.
1692 +
1693 +424
1694 +00:27:34,080 ~-~-> 00:27:36,600
1695 +You need to stop and just be patient. What are you waiting
1696 +
1697 +425
1698 +00:27:36,600 ~-~-> 00:27:39,120
1699 +for? You're waiting for one of these levels to trade. And
1700 +
1701 +426
1702 +00:27:39,120 ~-~-> 00:27:41,640
1703 +this is when I say these are institutional price levels.
1704 +
1705 +427
1706 +00:27:42,000 ~-~-> 00:27:49,440
1707 +Okay. I get jeered and prodded by folks that unconvinced
1708 +
1709 +428
1710 +00:27:49,440 ~-~-> 00:27:52,710
1711 +that they use my stuff and don't want to admit to it, but
1712 +
1713 +429
1714 +00:27:52,710 ~-~-> 00:27:55,380
1715 +they hate the fact that I can draw up attention real quick,
1716 +
1717 +430
1718 +00:27:55,710 ~-~-> 00:27:59,130
1719 +and I can teach right away something that's applicable and
1720 +
1721 +431
1722 +00:27:59,130 ~-~-> 00:28:01,620
1723 +some of them either aspiring to start their own company or
1724 +
1725 +432
1726 +00:28:01,620 ~-~-> 00:28:04,170
1727 +start their own signal service or own business. And the best
1728 +
1729 +433
1730 +00:28:04,170 ~-~-> 00:28:08,070
1731 +way to do their business is to try to tear me down. Because
1732 +
1733 +434
1734 +00:28:08,070 ~-~-> 00:28:11,820
1735 +I was the guy on the internet for years doing for free. Now,
1736 +
1737 +435
1738 +00:28:11,820 ~-~-> 00:28:13,830
1739 +I still am doing this for free. You didn't pay anything to
1740 +
1741 +436
1742 +00:28:13,830 ~-~-> 00:28:16,410
1743 +learn this. But right now what I've already given you in the
1744 +
1745 +437
1746 +00:28:16,410 ~-~-> 00:28:21,750
1747 +YouTube videos I've already given you in my forum. I've
1748 +
1749 +438
1750 +00:28:21,750 ~-~-> 00:28:28,410
1751 +given you in old tutorials. And now with just this, you have
1752 +
1753 +439
1754 +00:28:28,410 ~-~-> 00:28:34,530
1755 +no reason to subscribe to any subscriber base programs, not
1756 +
1757 +440
1758 +00:28:34,530 ~-~-> 00:28:37,800
1759 +even to mine. Okay, now think about this. Think about what I
1760 +
1761 +441
1762 +00:28:37,800 ~-~-> 00:28:41,550
1763 +just did. Okay? If I'm in this to make money and panhandle
1764 +
1765 +442
1766 +00:28:41,550 ~-~-> 00:28:45,120
1767 +off anyone, why on Why the hell would I just give you
1768 +
1769 +443
1770 +00:28:45,180 ~-~-> 00:28:49,320
1771 +something that you would never ever ever need to pay me or
1772 +
1773 +444
1774 +00:28:49,320 ~-~-> 00:28:52,230
1775 +anyone else for again, what kind of business model is that?
1776 +
1777 +445
1778 +00:28:53,220 ~-~-> 00:28:55,650
1779 +It's the same business model I use when I first started. I
1780 +
1781 +446
1782 +00:28:55,650 ~-~-> 00:28:58,680
1783 +gave all this stuff out for free, because I'm already rich.
1784 +
1785 +447
1786 +00:28:58,830 ~-~-> 00:29:02,460
1787 +I don't need anybody's money. Okay, I enjoy doing this. But
1788 +
1789 +448
1790 +00:29:02,460 ~-~-> 00:29:05,250
1791 +there's certain things I'm not going to teach publicly. I'm
1792 +
1793 +449
1794 +00:29:05,250 ~-~-> 00:29:09,120
1795 +just not going to do it. Do you need anything beyond this?
1796 +
1797 +450
1798 +00:29:09,210 ~-~-> 00:29:13,680
1799 +No. Because what is it done? It tells you where the setups
1800 +
1801 +451
1802 +00:29:13,710 ~-~-> 00:29:17,790
1803 +occur. Wait a minute. It's just that easy. It's absolutely
1804 +
1805 +452
1806 +00:29:17,790 ~-~-> 00:29:20,460
1807 +just that easy. You have these levels on your chart and I
1808 +
1809 +453
1810 +00:29:20,460 ~-~-> 00:29:22,740
1811 +don't care about what pair it is you're trading. This works
1812 +
1813 +454
1814 +00:29:22,740 ~-~-> 00:29:25,680
1815 +on the British pound. It works on the Canadian dollar. It
1816 +
1817 +455
1818 +00:29:25,680 ~-~-> 00:29:29,490
1819 +works on Bitcoin, try it on that I don't trade it. Okay. But
1820 +
1821 +456
1822 +00:29:29,730 ~-~-> 00:29:33,090
1823 +for feedback, I know that my people trade Bitcoin, do it on
1824 +
1825 +457
1826 +00:29:33,090 ~-~-> 00:29:37,080
1827 +Bitcoin and just see if it doesn't work on Bitcoin. I'm
1828 +
1829 +458
1830 +00:29:37,080 ~-~-> 00:29:38,970
1831 +interested to know because I don't really track that asset
1832 +
1833 +459
1834 +00:29:38,970 ~-~-> 00:29:42,090
1835 +class. But everything out there, it works on commodities, it
1836 +
1837 +460
1838 +00:29:42,090 ~-~-> 00:29:47,760
1839 +works on the bond. It works on. Stocks, it works on
1840 +
1841 +461
1842 +00:29:47,820 ~-~-> 00:29:53,280
1843 +everything, because it's the same mo the people that run
1844 +
1845 +462
1846 +00:29:53,490 ~-~-> 00:29:58,680
1847 +these markets, they use the same business model. It's all
1848 +
1849 +463
1850 +00:29:58,680 ~-~-> 00:30:02,250
1851 +the same thing. Accumulation distribution and manipulation,
1852 +
1853 +464
1854 +00:30:02,370 ~-~-> 00:30:04,650
1855 +those three things, there's three components, you need to
1856 +
1857 +465
1858 +00:30:04,650 ~-~-> 00:30:07,740
1859 +know what it is that the cycle is in right now. And it
1860 +
1861 +466
1862 +00:30:07,740 ~-~-> 00:30:11,430
1863 +sounds complicated, sounds mysterious. And I made my
1864 +
1865 +467
1866 +00:30:11,550 ~-~-> 00:30:14,070
1867 +presentations like that to draw everyone's attention.
1868 +
1869 +468
1870 +00:30:15,509 ~-~-> 00:30:18,209
1871 +I'm trying not to do that now. And I'm going right to the
1872 +
1873 +469
1874 +00:30:18,209 ~-~-> 00:30:21,299
1875 +core of what it is that you should be focusing on because it
1876 +
1877 +470
1878 +00:30:21,299 ~-~-> 00:30:23,819
1879 +created a lot of work for me in terms of emails. I got
1880 +
1881 +471
1882 +00:30:23,819 ~-~-> 00:30:26,159
1883 +frustrated over the years and said, you know what he's just
1884 +
1885 +472
1886 +00:30:26,159 ~-~-> 00:30:29,399
1887 +saying repeating questions. If I ever do this again, and I
1888 +
1889 +473
1890 +00:30:30,029 ~-~-> 00:30:33,719
1891 +just recently started coming back and providing content. I
1892 +
1893 +474
1894 +00:30:33,719 ~-~-> 00:30:37,319
1895 +want it to be concise. I want it to be user friendly right
1896 +
1897 +475
1898 +00:30:37,319 ~-~-> 00:30:42,089
1899 +away, and it leaves very little in terms of guessing about
1900 +
1901 +476
1902 +00:30:42,089 ~-~-> 00:30:47,879
1903 +what else alluding to. So in summary, I want you to pick one
1904 +
1905 +477
1906 +00:30:47,879 ~-~-> 00:30:53,219
1907 +pair. I just used the euro dollar here today, okay. And if
1908 +
1909 +478
1910 +00:30:53,219 ~-~-> 00:30:57,689
1911 +we use one pair, we want to have our levels arrived at so
1912 +
1913 +479
1914 +00:30:57,689 ~-~-> 00:31:01,589
1915 +our support resistance levels are going to be what 00 level
1916 +
1917 +480
1918 +00:31:01,859 ~-~-> 00:31:07,079
1919 +two at level 220 level and the mid figure 50. Okay, they are
1920 +
1921 +481
1922 +00:31:07,079 ~-~-> 00:31:10,739
1923 +your support resistance levels. Do not concern yourself with
1924 +
1925 +482
1926 +00:31:10,739 ~-~-> 00:31:13,649
1927 +anything else for right now, I promise you, if you watch
1928 +
1929 +483
1930 +00:31:13,649 ~-~-> 00:31:17,369
1931 +over the course of a week, you'll see one good setup. And
1932 +
1933 +484
1934 +00:31:17,369 ~-~-> 00:31:20,309
1935 +that's all I want you focusing on right now, do not try to
1936 +
1937 +485
1938 +00:31:20,309 ~-~-> 00:31:23,549
1939 +do everyday trading. I've been doing this for a long, long
1940 +
1941 +486
1942 +00:31:23,549 ~-~-> 00:31:29,579
1943 +time. In March, I'll be 25 years doing it. So my ability to
1944 +
1945 +487
1946 +00:31:29,579 ~-~-> 00:31:33,599
1947 +do it is completely going to be well above what you're able
1948 +
1949 +488
1950 +00:31:33,599 ~-~-> 00:31:36,359
1951 +to do for starting. So don't compare that or contrast that
1952 +
1953 +489
1954 +00:31:36,359 ~-~-> 00:31:39,449
1955 +just because an instructor can do it. And he taught you or
1956 +
1957 +490
1958 +00:31:39,449 ~-~-> 00:31:41,699
1959 +she taught you doesn't mean that you're gonna be able to
1960 +
1961 +491
1962 +00:31:41,699 ~-~-> 00:31:43,949
1963 +walk out and do the same thing the first day or the first
1964 +
1965 +492
1966 +00:31:43,949 ~-~-> 00:31:47,069
1967 +year, it ain't gonna happen. So you have to grow into that.
1968 +
1969 +493
1970 +00:31:47,489 ~-~-> 00:31:50,549
1971 +So we have support resistance levels determined and also
1972 +
1973 +494
1974 +00:31:50,549 ~-~-> 00:31:53,879
1975 +gave you previous highs and previous lows. So there's your
1976 +
1977 +495
1978 +00:31:53,879 ~-~-> 00:31:58,589
1979 +targets, okay, so you know, a levels gonna set up around one
1980 +
1981 +496
1982 +00:31:58,589 ~-~-> 00:32:01,949
1983 +of these levels here. And what's the setup optimal trade
1984 +
1985 +497
1986 +00:32:01,949 ~-~-> 00:32:07,349
1987 +entry? You're waiting for a scenario where this retracement
1988 +
1989 +498
1990 +00:32:07,349 ~-~-> 00:32:11,369
1991 +idea occurs. Sometimes it will be right on the level and hit
1992 +
1993 +499
1994 +00:32:11,369 ~-~-> 00:32:14,369
1995 +it. Sometimes it won't. Sometimes it will go through it
1996 +
1997 +500
1998 +00:32:14,369 ~-~-> 00:32:17,249
1999 +again, you're generally looking for this pattern optimal
2000 +
2001 +501
2002 +00:32:17,249 ~-~-> 00:32:22,499
2003 +trade entry around 800 level a 50 level, a 20, or an 80. And
2004 +
2005 +502
2006 +00:32:22,499 ~-~-> 00:32:26,549
2007 +I promise you, I guaran damn tee you if you go through your
2008 +
2009 +503
2010 +00:32:26,549 ~-~-> 00:32:29,459
2011 +charts, you're gonna see a plethora of these examples. Now,
2012 +
2013 +504
2014 +00:32:29,459 ~-~-> 00:32:33,179
2015 +I don't want you again, trying to do this every single day,
2016 +
2017 +505
2018 +00:32:33,599 ~-~-> 00:32:36,329
2019 +because I've taught that you can double your money every
2020 +
2021 +506
2022 +00:32:36,329 ~-~-> 00:32:40,919
2023 +single year with just less than 25 pips 23 pips a week, a 2%
2024 +
2025 +507
2026 +00:32:40,919 ~-~-> 00:32:44,099
2027 +risk if you know what you're doing. It doubles your money
2028 +
2029 +508
2030 +00:32:44,129 ~-~-> 00:32:46,829
2031 +every single year, you start with $1,000 and 10 years,
2032 +
2033 +509
2034 +00:32:47,549 ~-~-> 00:32:50,729
2035 +that's a million dollars. Now it doesn't quote, equate to
2036 +
2037 +510
2038 +00:32:51,509 ~-~-> 00:32:55,379
2039 +taxation and such but it doesn't take very much to do very
2040 +
2041 +511
2042 +00:32:55,379 ~-~-> 00:32:58,229
2043 +well. And that's my point. Every one of you that are
2044 +
2045 +512
2046 +00:32:58,229 ~-~-> 00:33:00,509
2047 +starting right now. That's where you should be. Living.
2048 +
2049 +513
2050 +00:33:00,779 ~-~-> 00:33:02,699
2051 +That's your neighborhood right now you're not trying to get
2052 +
2053 +514
2054 +00:33:02,699 ~-~-> 00:33:06,059
2055 +to the Beverly Hills, okay, you got to start somewhere. I
2056 +
2057 +515
2058 +00:33:06,059 ~-~-> 00:33:09,839
2059 +started somewhere small. And believe me, it did not take
2060 +
2061 +516
2062 +00:33:09,839 ~-~-> 00:33:13,289
2063 +long to get very good at this and to be able to find setups
2064 +
2065 +517
2066 +00:33:13,289 ~-~-> 00:33:18,479
2067 +consistently, very, very consistently. So we have one pair,
2068 +
2069 +518
2070 +00:33:19,679 ~-~-> 00:33:22,529
2071 +we're gonna put our institutional levels here. That's our
2072 +
2073 +519
2074 +00:33:22,529 ~-~-> 00:33:25,019
2075 +our support resistance ideas, our patterns, optimal trade
2076 +
2077 +520
2078 +00:33:25,019 ~-~-> 00:33:29,819
2079 +entry. What's our daily bias already taught you that what's
2080 +
2081 +521
2082 +00:33:29,819 ~-~-> 00:33:32,309
2083 +going on on a daily chart? Did it create a swing high or
2084 +
2085 +522
2086 +00:33:32,309 ~-~-> 00:33:34,679
2087 +swing low, if it's a swing low, we're going to continue to
2088 +
2089 +523
2090 +00:33:34,679 ~-~-> 00:33:37,319
2091 +look for the previous day's high to be taken out. If it's a
2092 +
2093 +524
2094 +00:33:37,319 ~-~-> 00:33:40,349
2095 +swing high. We're looking for the previous day's low to be
2096 +
2097 +525
2098 +00:33:40,349 ~-~-> 00:33:43,259
2099 +taken out. There's our bias. And you're going to wait for
2100 +
2101 +526
2102 +00:33:43,259 ~-~-> 00:33:45,809
2103 +these setups to occur at these institutional price levels.
2104 +
2105 +527
2106 +00:33:46,049 ~-~-> 00:33:50,129
2107 +Now what I just gave you will never ever, ever, ever, ever
2108 +
2109 +528
2110 +00:33:50,159 ~-~-> 00:33:53,369
2111 +stop working. Because if I ever felt that you never would
2112 +
2113 +529
2114 +00:33:53,369 ~-~-> 00:33:57,119
2115 +have met me I never would have taught it to you. This is how
2116 +
2117 +530
2118 +00:33:57,119 ~-~-> 00:34:01,319
2119 +the casino runs. The casino is tomorrow. They're not going
2120 +
2121 +531
2122 +00:34:01,319 ~-~-> 00:34:03,809
2123 +to change how they're doing it because Michael Huddleston
2124 +
2125 +532
2126 +00:34:03,809 ~-~-> 00:34:07,169
2127 +from Baltimore, Maryland, made some videos on YouTube. And I
2128 +
2129 +533
2130 +00:34:07,169 ~-~-> 00:34:10,289
2131 +don't care how many people subscribe to it. It's never going
2132 +
2133 +534
2134 +00:34:10,289 ~-~-> 00:34:14,219
2135 +to start working because there's always new suckers. The
2136 +
2137 +535
2138 +00:34:14,219 ~-~-> 00:34:19,589
2139 +market will always draw in a new pound of flesh. And I don't
2140 +
2141 +536
2142 +00:34:19,589 ~-~-> 00:34:21,959
2143 +care about trying to be right every single trading day.
2144 +
2145 +537
2146 +00:34:22,349 ~-~-> 00:34:27,179
2147 +That's not my concern. Yesterday, I had fiber dialed in, and
2148 +
2149 +538
2150 +00:34:27,179 ~-~-> 00:34:32,129
2151 +I did not trade it. Do I regret it? No. Am I gonna not be
2152 +
2153 +539
2154 +00:34:32,129 ~-~-> 00:34:35,069
2155 +able to eat because of it? No. Am I gonna lose sleep over
2156 +
2157 +540
2158 +00:34:35,069 ~-~-> 00:34:35,549
2159 +it? No.
2160 +
2161 +541
2162 +00:34:36,990 ~-~-> 00:34:40,620
2163 +I am indifferent to whether I take a trade or not take a
2164 +
2165 +542
2166 +00:34:40,620 ~-~-> 00:34:44,400
2167 +trade because I don't care anymore. I'm satisfied that I
2168 +
2169 +543
2170 +00:34:44,400 ~-~-> 00:34:47,310
2171 +know if I sit down. I'll find a setup. That's what you need
2172 +
2173 +544
2174 +00:34:47,310 ~-~-> 00:34:50,880
2175 +to graduate into. But you will not get that. If you go and
2176 +
2177 +545
2178 +00:34:50,880 ~-~-> 00:34:54,090
2179 +seeking a setup every single trading day because you're
2180 +
2181 +546
2182 +00:34:54,090 ~-~-> 00:34:58,800
2183 +teaching yourself to get stimulated and rewarded. The
2184 +
2185 +547
2186 +00:34:58,800 ~-~-> 00:35:02,400
2187 +problem is that reward won't come in a positive return. The
2188 +
2189 +548
2190 +00:35:02,400 ~-~-> 00:35:05,370
2191 +reward sometimes is going to be experienced always. But that
2192 +
2193 +549
2194 +00:35:05,370 ~-~-> 00:35:08,730
2195 +experience may be against what you thought would be, you
2196 +
2197 +550
2198 +00:35:08,730 ~-~-> 00:35:11,850
2199 +know where it's a loss. And that's learning. That's where
2200 +
2201 +551
2202 +00:35:11,850 ~-~-> 00:35:14,520
2203 +you grow. You're going to try to avoid that. And I'm going
2204 +
2205 +552
2206 +00:35:14,520 ~-~-> 00:35:18,090
2207 +to tell I'm telling you invite that to occur. You want that
2208 +
2209 +553
2210 +00:35:18,090 ~-~-> 00:35:20,910
2211 +to happen. That's why you're in a demo, you want to learn
2212 +
2213 +554
2214 +00:35:21,000 ~-~-> 00:35:25,080
2215 +how to absorb that tendency to be wrong, and see how quickly
2216 +
2217 +555
2218 +00:35:25,080 ~-~-> 00:35:28,230
2219 +it is to recover, recuperate and come back from that loss.
2220 +
2221 +556
2222 +00:35:28,350 ~-~-> 00:35:31,740
2223 +Because the next series of setups that will come I'm not
2224 +
2225 +557
2226 +00:35:31,740 ~-~-> 00:35:33,960
2227 +afraid of my setups failing I'm not afraid of my setups
2228 +
2229 +558
2230 +00:35:33,960 ~-~-> 00:35:37,140
2231 +never coming again, or the frequency the die off, they're
2232 +
2233 +559
2234 +00:35:37,140 ~-~-> 00:35:39,900
2235 +always going to be these setups will always be there in the
2236 +
2237 +560
2238 +00:35:39,900 ~-~-> 00:35:43,110
2239 +summertime, they're always there. In the shittiest times of
2240 +
2241 +561
2242 +00:35:43,110 ~-~-> 00:35:46,260
2243 +the marketplace, these are always there. Because there's
2244 +
2245 +562
2246 +00:35:46,290 ~-~-> 00:35:50,970
2247 +orders always stacked around these levels, just above, at or
2248 +
2249 +563
2250 +00:35:50,970 ~-~-> 00:35:55,950
2251 +just below in these big levels of 5020 and large double zero
2252 +
2253 +564
2254 +00:35:55,950 ~-~-> 00:35:59,610
2255 +levels, orders or movement, push price around orders by
2256 +
2257 +565
2258 +00:35:59,610 ~-~-> 00:36:03,330
2259 +largest institutions, insurance companies, larger banks,
2260 +
2261 +566
2262 +00:36:03,480 ~-~-> 00:36:05,760
2263 +okay, large corporations, like for instance, say, you know,
2264 +
2265 +567
2266 +00:36:05,760 ~-~-> 00:36:10,140
2267 +apple, they want to do business in China, they got it, they
2268 +
2269 +568
2270 +00:36:10,140 ~-~-> 00:36:13,200
2271 +got to make a transition from the dollar to the Chinese
2272 +
2273 +569
2274 +00:36:13,200 ~-~-> 00:36:16,860
2275 +currency. Well, that's forex. And that's what goes on that
2276 +
2277 +570
2278 +00:36:16,920 ~-~-> 00:36:22,440
2279 +there has to be an exchange that creates gyrations around
2280 +
2281 +571
2282 +00:36:22,440 ~-~-> 00:36:26,310
2283 +specific price levels. So if Apple puts in a request to
2284 +
2285 +572
2286 +00:36:27,270 ~-~-> 00:36:30,930
2287 +convert $2 billion worth of dollars into Chinese currency,
2288 +
2289 +573
2290 +00:36:30,930 ~-~-> 00:36:33,990
2291 +or you could be the British pound, they want to do business
2292 +
2293 +574
2294 +00:36:33,990 ~-~-> 00:36:39,810
2295 +in the UK even do something that is going to be a large
2296 +
2297 +575
2298 +00:36:40,170 ~-~-> 00:36:45,030
2299 +inflow of orders that a bank can use, and they'll take that
2300 +
2301 +576
2302 +00:36:45,150 ~-~-> 00:36:48,870
2303 +request that convert dollars into British pound or Chinese
2304 +
2305 +577
2306 +00:36:48,870 ~-~-> 00:36:50,700
2307 +currency or whatever it is that they're trying to do. I'm
2308 +
2309 +578
2310 +00:36:50,700 ~-~-> 00:36:54,060
2311 +just giving an example on a global commerce basis. They'll
2312 +
2313 +579
2314 +00:36:54,060 ~-~-> 00:36:56,970
2315 +use that and I'll frame it around one of these levels unless
2316 +
2317 +580
2318 +00:36:56,970 ~-~-> 00:37:00,810
2319 +the customer demands a specific range of what they're
2320 +
2321 +581
2322 +00:37:00,810 ~-~-> 00:37:04,320
2323 +willing to convert. And sometimes that curves and sometimes
2324 +
2325 +582
2326 +00:37:04,320 ~-~-> 00:37:07,530
2327 +it's not they want it done expediently, well, then it goes
2328 +
2329 +583
2330 +00:37:07,710 ~-~-> 00:37:11,640
2331 +in the favor of the bank that does the conversion. But I'm
2332 +
2333 +584
2334 +00:37:11,640 ~-~-> 00:37:13,950
2335 +not here to teach you all that stuff. It's not necessary.
2336 +
2337 +585
2338 +00:37:13,950 ~-~-> 00:37:16,440
2339 +But I'm just telling you, there's a Reimann reason why this
2340 +
2341 +586
2342 +00:37:16,440 ~-~-> 00:37:19,440
2343 +stuff works. It's not simply because it worked perfectly in
2344 +
2345 +587
2346 +00:37:19,440 ~-~-> 00:37:22,140
2347 +hindsight, and I showed you examples of it. I want you to
2348 +
2349 +588
2350 +00:37:22,140 ~-~-> 00:37:25,560
2351 +take this vignette today and prove to yourself, I'm already
2352 +
2353 +589
2354 +00:37:25,560 ~-~-> 00:37:28,110
2355 +convinced of it. Okay, you're not going to convince me of it
2356 +
2357 +590
2358 +00:37:28,350 ~-~-> 00:37:32,340
2359 +already know. But you as the student, you need to know that
2360 +
2361 +591
2362 +00:37:32,340 ~-~-> 00:37:35,250
2363 +there's no reason for you to rush, having these levels on
2364 +
2365 +592
2366 +00:37:35,250 ~-~-> 00:37:38,430
2367 +your chart, using the daily bias concept I've already taught
2368 +
2369 +593
2370 +00:37:38,430 ~-~-> 00:37:42,150
2371 +you. And also what the optimal trade entry pattern is the
2372 +
2373 +594
2374 +00:37:42,150 ~-~-> 00:37:44,340
2375 +Fibonacci I keep getting asked that question. What's these
2376 +
2377 +595
2378 +00:37:44,340 ~-~-> 00:37:47,310
2379 +levels? How do I get that on my fed, go into the optimal
2380 +
2381 +596
2382 +00:37:47,310 ~-~-> 00:37:49,680
2383 +trade entry primer video, it's on the YouTube channel, and
2384 +
2385 +597
2386 +00:37:49,680 ~-~-> 00:37:52,680
2387 +it'll teach you that whole business has set it off about
2388 +
2389 +598
2390 +00:37:52,710 ~-~-> 00:37:59,010
2391 +exactly how I have it here. Now. In future teachings, I'm
2392 +
2393 +599
2394 +00:37:59,010 ~-~-> 00:38:02,850
2395 +going to help you get To the point of knowing where your
2396 +
2397 +600
2398 +00:38:02,850 ~-~-> 00:38:06,600
2399 +target is, where your entry is, and how to use that in terms
2400 +
2401 +601
2402 +00:38:06,600 ~-~-> 00:38:09,240
2403 +of your money management. And I think that will really
2404 +
2405 +602
2406 +00:38:09,240 ~-~-> 00:38:12,480
2407 +summarize the whole thing in terms of the complete trading
2408 +
2409 +603
2410 +00:38:12,480 ~-~-> 00:38:16,230
2411 +patterns system and you won't need anything else. Now, I'm
2412 +
2413 +604
2414 +00:38:16,230 ~-~-> 00:38:19,080
2415 +encouraging you to study the tutorials that I've made over
2416 +
2417 +605
2418 +00:38:19,080 ~-~-> 00:38:22,950
2419 +the years. But you don't need to be at a feverish pace going
2420 +
2421 +606
2422 +00:38:22,950 ~-~-> 00:38:25,050
2423 +through them. I know you're all thinking that they're all
2424 +
2425 +607
2426 +00:38:25,050 ~-~-> 00:38:27,660
2427 +going to disappear again. But what I'm doing is I'm actually
2428 +
2429 +608
2430 +00:38:27,690 ~-~-> 00:38:31,830
2431 +going into them and removing certain songs. I'm removing
2432 +
2433 +609
2434 +00:38:31,830 ~-~-> 00:38:37,020
2435 +certain comments I made about a particular form that I
2436 +
2437 +610
2438 +00:38:37,020 ~-~-> 00:38:38,910
2439 +believe is toxic and it's not baby pips.
2440 +
2441 +611
2442 +00:38:40,530 ~-~-> 00:38:44,430
2443 +And I just want to keep the presentation as clean as I
2444 +
2445 +612
2446 +00:38:44,430 ~-~-> 00:38:47,580
2447 +possibly can. And I am monetizing them. I'm putting them on
2448 +
2449 +613
2450 +00:38:47,580 ~-~-> 00:38:51,090
2451 +my YouTube channel. So I'm also including certain things and
2452 +
2453 +614
2454 +00:38:51,090 ~-~-> 00:38:54,480
2455 +encouraging folks that if they see my videos being uploaded
2456 +
2457 +615
2458 +00:38:54,480 ~-~-> 00:38:57,780
2459 +by anyone else, I usually get flagged, and then someone else
2460 +
2461 +616
2462 +00:38:58,530 ~-~-> 00:39:03,240
2463 +will tell me or that I add in my videos, I pay for a service
2464 +
2465 +617
2466 +00:39:03,420 ~-~-> 00:39:06,090
2467 +that show me where my videos are being posted or re
2468 +
2469 +618
2470 +00:39:06,090 ~-~-> 00:39:10,170
2471 +uploaded, I get a lot of flags about Google drives, I get
2472 +
2473 +619
2474 +00:39:10,170 ~-~-> 00:39:12,180
2475 +that like, on a weekly basis, a lot of people have it in
2476 +
2477 +620
2478 +00:39:12,180 ~-~-> 00:39:16,410
2479 +their Google Drive. Sometimes, you know, I'll reach out and
2480 +
2481 +621
2482 +00:39:16,410 ~-~-> 00:39:18,810
2483 +try to touch them and say, looking at Can you not do that.
2484 +
2485 +622
2486 +00:39:18,840 ~-~-> 00:39:21,240
2487 +And some, most of them are all set to like private, where
2488 +
2489 +623
2490 +00:39:21,240 ~-~-> 00:39:24,480
2491 +people aren't publicly sharing it. But I, if I've created
2492 +
2493 +624
2494 +00:39:24,480 ~-~-> 00:39:28,140
2495 +the video, and I did all the work, okay, I should get the
2496 +
2497 +625
2498 +00:39:28,260 ~-~-> 00:39:31,020
2499 +perks of it. And the folks that tried to put my videos up in
2500 +
2501 +626
2502 +00:39:31,020 ~-~-> 00:39:34,020
2503 +the past, when YouTube they're trying to monetize it. And
2504 +
2505 +627
2506 +00:39:34,020 ~-~-> 00:39:36,210
2507 +they learned it by having songs in it wasn't able to
2508 +
2509 +628
2510 +00:39:36,210 ~-~-> 00:39:39,720
2511 +monetize it. So now I'm removing songs that allows me to
2512 +
2513 +629
2514 +00:39:39,720 ~-~-> 00:39:43,200
2515 +monetize my own work. But I don't want other people doing
2516 +
2517 +630
2518 +00:39:43,200 ~-~-> 00:39:45,510
2519 +that. And I'll come after those individuals and have them
2520 +
2521 +631
2522 +00:39:45,510 ~-~-> 00:39:48,390
2523 +take it down off of YouTube. So and plus it, like I said, I
2524 +
2525 +632
2526 +00:39:48,390 ~-~-> 00:39:52,140
2527 +pay for a service to do that. And for me to cover the cost
2528 +
2529 +633
2530 +00:39:52,140 ~-~-> 00:39:54,390
2531 +on that. The monetization, I could tell you right now, I'm
2532 +
2533 +634
2534 +00:39:54,390 ~-~-> 00:39:56,370
2535 +not making a lot of money on youtube off of these videos,
2536 +
2537 +635
2538 +00:39:56,370 ~-~-> 00:40:00,000
2539 +but it does help pay for costs of doing things like this.
2540 +
2541 +636
2542 +00:40:00,810 ~-~-> 00:40:04,590
2543 +doing live sessions and the resources that I'm going to make
2544 +
2545 +637
2546 +00:40:04,590 ~-~-> 00:40:07,890
2547 +available to you, all that stuff cost me money, I put about
2548 +
2549 +638
2550 +00:40:07,890 ~-~-> 00:40:12,210
2551 +$15,000 into all those previous teachings that you guys just
2552 +
2553 +639
2554 +00:40:12,210 ~-~-> 00:40:15,960
2555 +watch for free. And you don't really consider that when
2556 +
2557 +640
2558 +00:40:15,960 ~-~-> 00:40:18,690
2559 +you're looking at it. But for years, I paid a lot of money.
2560 +
2561 +641
2562 +00:40:19,290 ~-~-> 00:40:23,280
2563 +And I like teaching. But at some point, if I'm gonna
2564 +
2565 +642
2566 +00:40:23,280 ~-~-> 00:40:26,250
2567 +continue until I don't want to do this anymore, it's got to
2568 +
2569 +643
2570 +00:40:26,250 ~-~-> 00:40:32,550
2571 +be some kind of cost deferment on the basis that if you're
2572 +
2573 +644
2574 +00:40:32,550 ~-~-> 00:40:35,460
2575 +consuming it, and you find value in it, great, you know,
2576 +
2577 +645
2578 +00:40:35,460 ~-~-> 00:40:38,460
2579 +support the videos by watching YouTube. And you know, if you
2580 +
2581 +646
2582 +00:40:38,460 ~-~-> 00:40:40,410
2583 +have ad blocker on it, I'm not going to get any revenue off
2584 +
2585 +647
2586 +00:40:40,410 ~-~-> 00:40:44,730
2587 +of that. But if you if you have an ad blocker, I'm not going
2588 +
2589 +648
2590 +00:40:44,730 ~-~-> 00:40:46,770
2591 +to get that. But in my forum, I'm just letting you know,
2592 +
2593 +649
2594 +00:40:46,800 ~-~-> 00:40:49,770
2595 +it's a free forum. But there will be ads in that it's going
2596 +
2597 +650
2598 +00:40:49,770 ~-~-> 00:40:53,610
2599 +to be Google AdSense. So I'm not going to add subscriber
2600 +
2601 +651
2602 +00:40:53,610 ~-~-> 00:40:56,970
2603 +base membership to it. It'll all be ad supported. And my
2604 +
2605 +652
2606 +00:40:58,110 ~-~-> 00:41:03,120
2607 +assumptions are with about five hundred thousand views in my
2608 +
2609 +653
2610 +00:41:03,150 ~-~-> 00:41:09,060
2611 +regular mentorship group per month and only got 664 members
2612 +
2613 +654
2614 +00:41:09,060 ~-~-> 00:41:11,580
2615 +that have made all the way through, I get about half a
2616 +
2617 +655
2618 +00:41:11,580 ~-~-> 00:41:16,170
2619 +million views of traffic in my mentorship forum. So I know I
2620 +
2621 +656
2622 +00:41:16,170 ~-~-> 00:41:19,620
2623 +could probably get about two, two and a half million views.
2624 +
2625 +657
2626 +00:41:19,620 ~-~-> 00:41:22,740
2627 +That's my projection on my free membership forum. And
2628 +
2629 +658
2630 +00:41:22,740 ~-~-> 00:41:25,110
2631 +that'll support a lot of things. I don't have to charge you
2632 +
2633 +659
2634 +00:41:25,110 ~-~-> 00:41:28,410
2635 +anything. They'll support also the cost of me running my
2636 +
2637 +660
2638 +00:41:28,410 ~-~-> 00:41:30,720
2639 +mentorship forum as well because that costs money as well.
2640 +
2641 +661
2642 +00:41:31,080 ~-~-> 00:41:36,240
2643 +So I'm being completely transparent as best I can. That way
2644 +
2645 +662
2646 +00:41:36,240 ~-~-> 00:41:39,540
2647 +I hopefully can avoid a lot of the stupid stuff that comes
2648 +
2649 +663
2650 +00:41:39,540 ~-~-> 00:41:43,260
2651 +by way of Twitter and email. But you've been given a really
2652 +
2653 +664
2654 +00:41:43,260 ~-~-> 00:41:46,380
2655 +good foundation today in terms of what levels you're looking
2656 +
2657 +665
2658 +00:41:46,380 ~-~-> 00:41:50,190
2659 +for, why you're looking for them, where the setups, how the
2660 +
2661 +666
2662 +00:41:50,190 ~-~-> 00:41:52,590
2663 +setup looks sometimes around that level, and I given you
2664 +
2665 +667
2666 +00:41:52,590 ~-~-> 00:41:55,530
2667 +just a small sampling here, your homework has to go through
2668 +
2669 +668
2670 +00:41:55,560 ~-~-> 00:42:00,000
2671 +your particular pair and I encourage you to not use your
2672 +
2673 +669
2674 +00:42:00,000 ~-~-> 00:42:03,330
2675 +Dollar, because I did it and I don't want you mimicking me
2676 +
2677 +670
2678 +00:42:03,870 ~-~-> 00:42:06,420
2679 +think independently, you might want to do something else
2680 +
2681 +671
2682 +00:42:06,420 ~-~-> 00:42:10,170
2683 +like the Aussie dollar or Kiwi dollar. Pick one, it could be
2684 +
2685 +672
2686 +00:42:10,170 ~-~-> 00:42:13,920
2687 +the the beast. Okay, pound yen, it still works there too.
2688 +
2689 +673
2690 +00:42:15,210 ~-~-> 00:42:18,120
2691 +But wait for one of these levels to be traded to, and then
2692 +
2693 +674
2694 +00:42:18,120 ~-~-> 00:42:19,770
2695 +wait for that daily bias
2696 +
2697 +675
2698 +00:42:20,700 ~-~-> 00:42:24,660
2699 +to come in and then target daily highs and daily lows for
2700 +
2701 +676
2702 +00:42:24,690 ~-~-> 00:42:27,570
2703 +runs on liquidity. And you have a complete system. The only
2704 +
2705 +677
2706 +00:42:27,570 ~-~-> 00:42:30,120
2707 +thing you're missing right now and lacking is what you do
2708 +
2709 +678
2710 +00:42:30,120 ~-~-> 00:42:32,280
2711 +with your account. How much of your risk, where's your stop
2712 +
2713 +679
2714 +00:42:32,280 ~-~-> 00:42:35,430
2715 +loss? And the question I'm getting now is how much do I take
2716 +
2717 +680
2718 +00:42:35,430 ~-~-> 00:42:38,250
2719 +off at these targets? And that's going to be completely up
2720 +
2721 +681
2722 +00:42:38,250 ~-~-> 00:42:41,610
2723 +to you. I don't ever give that in my mentorship and believe
2724 +
2725 +682
2726 +00:42:41,610 ~-~-> 00:42:45,450
2727 +me if they were all invited to answer this on Twitter, they
2728 +
2729 +683
2730 +00:42:45,450 ~-~-> 00:42:48,450
2731 +would all tell you, I tell them the same thing and they paid
2732 +
2733 +684
2734 +00:42:48,450 ~-~-> 00:42:52,230
2735 +for this insight at these levels in here. It's completely up
2736 +
2737 +685
2738 +00:42:52,230 ~-~-> 00:42:56,220
2739 +to you because it's your trade. A mine is never the same way
2740 +
2741 +686
2742 +00:42:56,220 ~-~-> 00:42:59,310
2743 +always. I don't always say I'm gonna take 30% off here and
2744 +
2745 +687
2746 +00:42:59,310 ~-~-> 00:43:03,780
2747 +50% here. I just go by what I see in the chart. And if I
2748 +
2749 +688
2750 +00:43:03,780 ~-~-> 00:43:06,720
2751 +feel that the continuation is most likely going to occur,
2752 +
2753 +689
2754 +00:43:07,230 ~-~-> 00:43:10,830
2755 +then I will leave a larger portion on. If I am in doubt
2756 +
2757 +690
2758 +00:43:10,830 ~-~-> 00:43:14,010
2759 +about the continuation to the next target to or symmetrical
2760 +
2761 +691
2762 +00:43:14,010 ~-~-> 00:43:17,880
2763 +price swing, then I'll take a larger degree at first profit,
2764 +
2765 +692
2766 +00:43:18,090 ~-~-> 00:43:20,640
2767 +and then leave a smaller portion and then I'll split that in
2768 +
2769 +693
2770 +00:43:20,640 ~-~-> 00:43:25,560
2771 +half at the next logical level. As you see in my examples, I
2772 +
2773 +694
2774 +00:43:25,560 ~-~-> 00:43:28,950
2775 +very rarely have a large position on at the end of the
2776 +
2777 +695
2778 +00:43:28,950 ~-~-> 00:43:31,710
2779 +trade. And I'm never really holding to the last point and
2780 +
2781 +696
2782 +00:43:31,710 ~-~-> 00:43:35,190
2783 +that's my final point in this if you know that this is
2784 +
2785 +697
2786 +00:43:35,190 ~-~-> 00:43:39,300
2787 +likely the high. Okay, and I'll give you tools that will
2788 +
2789 +698
2790 +00:43:39,300 ~-~-> 00:43:42,990
2791 +help you do that in the tutorials. If this is your objective
2792 +
2793 +699
2794 +00:43:42,990 ~-~-> 00:43:47,550
2795 +on a daily Hi, my personal conviction over the last two
2796 +
2797 +700
2798 +00:43:47,550 ~-~-> 00:43:51,960
2799 +decades and trading is what I gleaned from my mentor Larry
2800 +
2801 +701
2802 +00:43:51,960 ~-~-> 00:43:54,000
2803 +Williams. Now he didn't sit down with me on a day by day
2804 +
2805 +702
2806 +00:43:54,000 ~-~-> 00:43:57,210
2807 +basis. I'd never met him. I never shook his hand. But I
2808 +
2809 +703
2810 +00:43:57,210 ~-~-> 00:43:59,490
2811 +researched everything about everything the man ever did.
2812 +
2813 +704
2814 +00:43:59,640 ~-~-> 00:44:02,760
2815 +Okay. Just like my students say they hear my voice in their
2816 +
2817 +705
2818 +00:44:02,760 ~-~-> 00:44:05,370
2819 +head, I still hear Larry's voice in mind. And sometimes I'm
2820 +
2821 +706
2822 +00:44:05,370 ~-~-> 00:44:07,410
2823 +telling him to shut up because some of the things he taught,
2824 +
2825 +707
2826 +00:44:08,130 ~-~-> 00:44:11,430
2827 +I don't subscribe to. I evolved beyond and I want you to
2828 +
2829 +708
2830 +00:44:11,430 ~-~-> 00:44:14,730
2831 +have that same benefit. Don't take everything I say as
2832 +
2833 +709
2834 +00:44:14,730 ~-~-> 00:44:18,900
2835 +gospel, let it be a challenge to you and dig deeper. But if
2836 +
2837 +710
2838 +00:44:18,900 ~-~-> 00:44:21,240
2839 +I do say stay away from indicators, trust when I tell you,
2840 +
2841 +711
2842 +00:44:21,270 ~-~-> 00:44:22,350
2843 +that's the best thing you can do.
2844 +
2845 +712
2846 +00:44:24,060 ~-~-> 00:44:26,400
2847 +I learned from Larry Williams if he knows he has a target
2848 +
2849 +713
2850 +00:44:26,550 ~-~-> 00:44:30,000
2851 +he's looking for. Okay. His is basically a profitable
2852 +
2853 +714
2854 +00:44:30,030 ~-~-> 00:44:33,690
2855 +clothes. In other words, if he's in long, the daily clothes,
2856 +
2857 +715
2858 +00:44:33,690 ~-~-> 00:44:37,530
2859 +he's trying to hold on for that. If he gets out before that,
2860 +
2861 +716
2862 +00:44:38,100 ~-~-> 00:44:43,440
2863 +but not at the close. He's doing you know, the best service
2864 +
2865 +717
2866 +00:44:43,440 ~-~-> 00:44:46,260
2867 +he can provide for himself. Because it may not get to that
2868 +
2869 +718
2870 +00:44:46,260 ~-~-> 00:44:50,910
2871 +level. I may not see 116 55 they might go to 116 54 and my
2872 +
2873 +719
2874 +00:44:50,910 ~-~-> 00:44:56,160
2875 +limit was at 60 1655 I've had to happen to me. So what I do
2876 +
2877 +720
2878 +00:44:56,160 ~-~-> 00:45:01,470
2879 +is I go 1015 sometimes 20 pips early And I get out there.
2880 +
2881 +721
2882 +00:45:01,770 ~-~-> 00:45:04,050
2883 +Why? Because I want to make sure I'm getting out at a
2884 +
2885 +722
2886 +00:45:04,050 ~-~-> 00:45:06,840
2887 +logical level, price is moving in my favor. And I don't care
2888 +
2889 +723
2890 +00:45:06,840 ~-~-> 00:45:10,800
2891 +about looking smart. I want to make sure that my homes are
2892 +
2893 +724
2894 +00:45:10,800 ~-~-> 00:45:14,370
2895 +paid for my insurance on my vehicles, all the things that I
2896 +
2897 +725
2898 +00:45:14,370 ~-~-> 00:45:18,210
2899 +do on a day by day basis, it's going to be supported. And
2900 +
2901 +726
2902 +00:45:18,210 ~-~-> 00:45:21,750
2903 +I'm never going to have to go down in my network, it's
2904 +
2905 +727
2906 +00:45:21,750 ~-~-> 00:45:23,910
2907 +always going to be increasing, doesn't mean I'm not taking
2908 +
2909 +728
2910 +00:45:23,910 ~-~-> 00:45:27,810
2911 +losses. It just means that in my business model, I want me
2912 +
2913 +729
2914 +00:45:28,230 ~-~-> 00:45:33,690
2915 +focusing on profitability, not perfect, not precision entry
2916 +
2917 +730
2918 +00:45:33,690 ~-~-> 00:45:36,810
2919 +exits always. The point is if you know this is the entry
2920 +
2921 +731
2922 +00:45:36,810 ~-~-> 00:45:40,650
2923 +down here, or this is down here, I'm sorry, here. And this
2924 +
2925 +732
2926 +00:45:40,650 ~-~-> 00:45:43,980
2927 +is where the logical target is getting out before that
2928 +
2929 +733
2930 +00:45:44,010 ~-~-> 00:45:47,190
2931 +there's nothing wrong with that. The folks that will say
2932 +
2933 +734
2934 +00:45:47,280 ~-~-> 00:45:49,200
2935 +that stupid, that's your target should hold on to it.
2936 +
2937 +735
2938 +00:45:49,800 ~-~-> 00:45:55,440
2939 +They're not profitable. They're holding on to absolutes and
2940 +
2941 +736
2942 +00:45:55,440 ~-~-> 00:46:00,990
2943 +absolutes don't pay. Now, analysis and exit are two
2944 +
2945 +737
2946 +00:46:00,990 ~-~-> 00:46:04,650
2947 +different entirely thing two different things. I use my
2948 +
2949 +738
2950 +00:46:04,650 ~-~-> 00:46:07,020
2951 +analysis to give me the rough idea of where I should be
2952 +
2953 +739
2954 +00:46:07,020 ~-~-> 00:46:10,110
2955 +getting out at the best case scenario. And what I make is an
2956 +
2957 +740
2958 +00:46:10,140 ~-~-> 00:46:13,350
2959 +exit is earlier than that. And I'll let the guys that want
2960 +
2961 +741
2962 +00:46:13,350 ~-~-> 00:46:16,470
2963 +to be hot shots, try to hold on for those last bits, I get
2964 +
2965 +742
2966 +00:46:16,470 ~-~-> 00:46:20,160
2967 +the accolades in high fives by knowing in advance and
2968 +
2969 +743
2970 +00:46:20,160 ~-~-> 00:46:22,830
2971 +showing you the levels beforehand. And the traders that are
2972 +
2973 +744
2974 +00:46:22,830 ~-~-> 00:46:26,130
2975 +new, they see this and they go crazy. Oh, he's getting out
2976 +
2977 +745
2978 +00:46:26,130 ~-~-> 00:46:29,670
2979 +too high. No, I'm not. I'm absolutely not doing that. And I
2980 +
2981 +746
2982 +00:46:29,670 ~-~-> 00:46:32,490
2983 +don't have my full position on there either. I have paid
2984 +
2985 +747
2986 +00:46:32,490 ~-~-> 00:46:34,350
2987 +myself throughout the way and I didn't take this trail and
2988 +
2989 +748
2990 +00:46:34,350 ~-~-> 00:46:39,000
2991 +saying, from a conceptual standpoint, I pay myself for the
2992 +
2993 +749
2994 +00:46:39,000 ~-~-> 00:46:42,090
2995 +time I've invested in the risk. Now there's going to be
2996 +
2997 +750
2998 +00:46:42,090 ~-~-> 00:46:45,300
2999 +people that say, well see that's stupid, because risk reward
3000 +
3001 +751
3002 +00:46:45,300 ~-~-> 00:46:47,790
3003 +says that you had the most maximum risk on at the beginning
3004 +
3005 +752
3006 +00:46:47,790 ~-~-> 00:46:50,850
3007 +of the trade and you're taking off. I'm yeah, I'm taking
3008 +
3009 +753
3010 +00:46:50,850 ~-~-> 00:46:52,740
3011 +money out of the marketplace. Hello. That's what you're
3012 +
3013 +754
3014 +00:46:52,740 ~-~-> 00:46:55,710
3015 +doing this for. I'm managing risk because I'm reducing the
3016 +
3017 +755
3018 +00:46:55,710 ~-~-> 00:47:00,000
3019 +risk as I stay longer in the trade. Okay, and I'm satisfying
3020 +
3021 +756
3022 +00:47:00,000 ~-~-> 00:47:04,410
3023 +that urge to be a male conqueror, the caveman mentality
3024 +
3025 +757
3026 +00:47:04,410 ~-~-> 00:47:07,890
3027 +that's in men that we're hardwired to feel that I still am
3028 +
3029 +758
3030 +00:47:07,890 ~-~-> 00:47:11,730
3031 +satisfied with that because I have something small one, or
3032 +
3033 +759
3034 +00:47:12,060 ~-~-> 00:47:15,750
3035 +I've already noted that hi in advance, so that satisfies me
3036 +
3037 +760
3038 +00:47:15,750 ~-~-> 00:47:18,270
3039 +and ego. And you're always going to as a male, you're going
3040 +
3041 +761
3042 +00:47:18,270 ~-~-> 00:47:20,340
3043 +to have you don't care who you are, you're going to expect
3044 +
3045 +762
3046 +00:47:20,340 ~-~-> 00:47:23,430
3047 +if you get good at this, it just happens. I was not an
3048 +
3049 +763
3050 +00:47:23,430 ~-~-> 00:47:25,740
3051 +egotistical maniac. When I first started this, I was very,
3052 +
3053 +764
3054 +00:47:25,740 ~-~-> 00:47:30,360
3055 +very quiet, docile, very rarely said anything blue collar.
3056 +
3057 +765
3058 +00:47:30,540 ~-~-> 00:47:34,530
3059 +And I was Mr. Nice Guy. And when you start making $17,000 a
3060 +
3061 +766
3062 +00:47:34,530 ~-~-> 00:47:37,380
3063 +week, that stuff changes real quick, and you think your shit
3064 +
3065 +767
3066 +00:47:37,380 ~-~-> 00:47:39,480
3067 +doesn't stink, and you're better than everybody else. And
3068 +
3069 +768
3070 +00:47:39,480 ~-~-> 00:47:42,570
3071 +it's an ugly trait, but it's something that people go
3072 +
3073 +769
3074 +00:47:42,570 ~-~-> 00:47:45,060
3075 +through. And unless somebody smacked you down, and for me,
3076 +
3077 +770
3078 +00:47:45,120 ~-~-> 00:47:48,960
3079 +it was God. He put the Godsmack on me and humbled me and it
3080 +
3081 +771
3082 +00:47:48,960 ~-~-> 00:47:50,790
3083 +doesn't probably sound like I'm been humbled, but believe
3084 +
3085 +772
3086 +00:47:50,790 ~-~-> 00:47:55,620
3087 +me, I do a lot of character ization and just, I try to be
3088 +
3089 +773
3090 +00:47:55,620 ~-~-> 00:47:58,350
3091 +entertaining when I'm online. Sometimes it doesn't. It
3092 +
3093 +774
3094 +00:47:58,350 ~-~-> 00:48:02,310
3095 +doesn't deliver well. Sometimes it does. But I do those
3096 +
3097 +775
3098 +00:48:02,310 ~-~-> 00:48:06,300
3099 +things, to try to satisfy those little percolation in my
3100 +
3101 +776
3102 +00:48:06,300 ~-~-> 00:48:10,230
3103 +ego. I have to wrestle with that every single day because
3104 +
3105 +777
3106 +00:48:10,230 ~-~-> 00:48:16,170
3107 +what I do is so good. It's hard not to be egotistical, it's
3108 +
3109 +778
3110 +00:48:16,170 ~-~-> 00:48:19,470
3111 +hard not to be arrogant. It takes a great deal of effort not
3112 +
3113 +779
3114 +00:48:19,470 ~-~-> 00:48:22,080
3115 +to do those types of things. So for the young guys, in
3116 +
3117 +780
3118 +00:48:22,080 ~-~-> 00:48:27,030
3119 +closing, as you learn this stuff, do not take this as an
3120 +
3121 +781
3122 +00:48:27,030 ~-~-> 00:48:32,070
3123 +invitation to go on social media, Facebook, Instagram, and
3124 +
3125 +782
3126 +00:48:32,070 ~-~-> 00:48:34,860
3127 +become the next forex baller.
3128 +
3129 +783
3130 +00:48:36,360 ~-~-> 00:48:38,910
3131 +Believe me, it doesn't deliver, like you think it will,
3132 +
3133 +784
3134 +00:48:39,150 ~-~-> 00:48:42,690
3135 +you're not going to deliver a message that people are gonna
3136 +
3137 +785
3138 +00:48:42,690 ~-~-> 00:48:44,580
3139 +fall in love with. They're gonna say, Oh, this guy's a jerk,
3140 +
3141 +786
3142 +00:48:44,670 ~-~-> 00:48:47,700
3143 +you know? Or he's fake this, he's arrogant. You know, you're
3144 +
3145 +787
3146 +00:48:47,700 ~-~-> 00:48:49,380
3147 +over the top. So therefore, you can't you can't be
3148 +
3149 +788
3150 +00:48:49,380 ~-~-> 00:48:51,450
3151 +profitable. And you got to spend so much time trying to
3152 +
3153 +789
3154 +00:48:51,450 ~-~-> 00:48:54,360
3155 +convince him prove that you're just gonna waste your time
3156 +
3157 +790
3158 +00:48:54,390 ~-~-> 00:48:56,340
3159 +and it's not going to give you what you expected in terms of
3160 +
3161 +791
3162 +00:48:56,610 ~-~-> 00:48:59,970
3163 +response. So don't even waste your time with it. Who cares?
3164 +
3165 +792
3166 +00:49:00,000 ~-~-> 00:49:02,070
3167 +If they don't believe you're making money, because I don't
3168 +
3169 +793
3170 +00:49:02,070 ~-~-> 00:49:04,590
3171 +care who's making you whoever doesn't believe that this
3172 +
3173 +794
3174 +00:49:04,590 ~-~-> 00:49:07,170
3175 +stuff works, but I'm not profitable, or I don't really trade
3176 +
3177 +795
3178 +00:49:07,170 ~-~-> 00:49:11,280
3179 +or I'm delivering pizzas for Domino's, and, you know, 1992
3180 +
3181 +796
3182 +00:49:11,310 ~-~-> 00:49:14,940
3183 +Ford Mustang with a rusted out trunk. I don't know where
3184 +
3185 +797
3186 +00:49:14,940 ~-~-> 00:49:16,950
3187 +that came from, but long and short is I don't care what
3188 +
3189 +798
3190 +00:49:16,950 ~-~-> 00:49:20,640
3191 +people believe about me. I only care about the folks that
3192 +
3193 +799
3194 +00:49:20,640 ~-~-> 00:49:23,730
3195 +put the time into learning what I'm teaching. And believe
3196 +
3197 +800
3198 +00:49:23,730 ~-~-> 00:49:27,180
3199 +me, if you do these things, you will see your time has not
3200 +
3201 +801
3202 +00:49:27,180 ~-~-> 00:49:32,580
3203 +been wasted. And it's consistency, its framework exactly
3204 +
3205 +802
3206 +00:49:32,580 ~-~-> 00:49:35,580
3207 +what you're looking for. But I give it in small pieces,
3208 +
3209 +803
3210 +00:49:35,880 ~-~-> 00:49:38,910
3211 +because it's required to learn that way. If I gave you all
3212 +
3213 +804
3214 +00:49:38,910 ~-~-> 00:49:41,490
3215 +one presentation, this is what you do. You're not going to
3216 +
3217 +805
3218 +00:49:41,490 ~-~-> 00:49:43,590
3219 +do what you're supposed to be doing because I want you to
3220 +
3221 +806
3222 +00:49:43,590 ~-~-> 00:49:47,040
3223 +focus on small segments of price action and components of
3224 +
3225 +807
3226 +00:49:47,040 ~-~-> 00:49:49,860
3227 +it. And you'll be quickly convinced that each individual
3228 +
3229 +808
3230 +00:49:49,860 ~-~-> 00:49:53,220
3231 +component has validity it has substance behind it, and when
3232 +
3233 +809
3234 +00:49:53,220 ~-~-> 00:49:56,400
3235 +you put everything together, you get Blue Ribbon results. So
3236 +
3237 +810
3238 +00:49:56,400 ~-~-> 00:49:58,380
3239 +hopefully you found this insightful until next time, I wish
3240 +
3241 +811
3242 +00:49:58,380 ~-~-> 00:49:59,640
3243 +you good luck and good trading.