Getting Started In ICT Scalping Concepts.srt
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ICT: Good morning folks. appreciate your patience. Alright,
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so we're gonna go over a few things. I'm not gonna spend a
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whole lot of time with you today. I'm gonna try to keep the
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session short. The focus is really to try to get you up to
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speed as fast as I possibly can, but not cramming you with
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too much info. Because I know that a lot of new followers
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are not new readers, to my material. And you're all anxious
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to get to the next video on my other tutorials, and in
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between that, like give you what I think you should be doing
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with your time, it's not going to be learned by watching my
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videos, okay? There's a lot of folks that will say, watch
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the videos, watch the videos. And it's true, you have to see
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the videos to get the concepts. But don't spend your time
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just watching videos binge watching, you actually have to do
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all the work in your own charts. The folks that are going to
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do well with my stuff or anything else. It's going to be the
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ones that participate in practice and do it without being
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told to do so by me. You got to have some initiative, okay.
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And without having that it's going to be well, next to
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impossible for you get good and you're going to be the one
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that stands in the way of you Being proficient with this,
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not my delivery of the content, not my frequency of putting
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out videos, it's going to be the amount of time you put into
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studying and studying correctly practicing it correctly. So
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I'm going to give you why I believe that you should be
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focusing on one pair. Okay, and how you should go about
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doing that. And how you should log each experience each
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deck. Now, either you're going to do it live, or you can do
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it by hindsight, a lot of you have jobs, all you have
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businesses, is life's going to be in the way and you can't
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always be watching live price action. You still can learn
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this. I taught myself a lot of the things that I teach, all
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based on end of day data. I would go back and look at charts
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that happened during the day with an hourly chart, and I
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could see certain things and that's how I learned a lot of
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the things that I started with my core principles. When I
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was Starting with the Forex tutorials back in 2010 I've been
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trading a lot longer than that. But a lot of the core
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understanding came by way of just simply understanding end
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of day trading. And that means nothing intraday, nothing
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live. It was all based on basically a daily chart. Okay, so
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yesterday I gave you guys a chart here and I highly price
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hitting this specific level here. And hopefully I'll stem a
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lot of this. With this comment about it probably won't be as
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effective as I was hope, hope hope it would be rather. But
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everyone seems to think that the magic is happening with the
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Fibonacci. And there's a lot of things that go along with
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using Fibonacci for my targets and my entries. It's not the
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sole basis for my entry. Okay, in first glance, it looks
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like something you've seen before, okay, but there's a lot
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of Other things that you have to focus on and Shouldn't you
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try doing on your own, you know, right away? It's not as
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easy as you think it is. You don't know what the anchor what
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fib on what level what? Pi with low, suddenly, you know, it
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doesn't look like it doesn't work that good. And it's
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because of the experience factor. My group that I have
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mentored for the last over, over, well, it's been a year
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now. Some of them are still admittedly struggling with some
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of the concepts. And I'm constantly repeating. It's an
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experience thing that they have to grow into. You don't
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learn this overnight, you certainly aren't going to learn in
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one year. Okay, but you will learn to grow in your
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understanding. So I'm going to give you a foundation today.
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To start with, it's only specifically dealing with scouting,
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okay. So please don't come at me on Twitter about hey, look,
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you know, what about central bank dealers range and what
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about the fallout? And what about, you know, the moving
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average crossovers, and what about it Trading stick to what
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I'm giving you. Not because I'm trying to hold anything away
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from you, but I gave you guys way too much stuff before way
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too fast. And it's gave the impression that you needed to
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have all that to be successful. And to some degree, a lot of
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mine. detractors were right in the sense that I was giving
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way too much. But what I was really doing was I was giving
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you everything that I went through to develop myself as the
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amateur trader, the person that you see that
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took calls the market and gives the analysis concepts, all
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those things that led up to my understanding, and to become
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who I am as a trader. Those were the things I went through.
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And it was kinda like a social experience, to see if anyone
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else could be, I guess, created the same way I was. And for
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the most part, it didn't happen. So it was a failed
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experiment in my eyes, but it was still fun to watch the
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growth of some individuals that did pretty well with it. But
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nobody came to the level I was hoping he would, by way of me
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presenting the information. So with that, I'm going to ask
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you a question. And this is rhetorical. Obviously, you guys
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aren't going to be able to tell me what your responses are.
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You can share them on Twitter, but it's really just a
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rhetorical. What pair have you spent the most time looking
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at? Now? There's no correct pair. Okay, please don't think
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that there's one pair that's better than the other. Because
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they all do the same thing. They all open, they'll post the
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high, they'll post the low and the close and create a new
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bar or new candle. So we're trying we're trading price. We
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don't care so much about the particular currency. Now there
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are times when certain currencies should be focused on
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others, and that's completely outside the scope of this
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discussion, but I want you to it at least, right now,
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suspend your curiosity in chasing everything else and just
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pick one pair It doesn't matter which pair it is. But today
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as a goal I want you to know don't have to be decided at
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this moment right now. But give it a day, think about what
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currency pair you have gone to on your smartphone, or in
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your demo account. Or maybe you've made the mistake of
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opening a Live account right away without knowing anything,
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and what pair you're trying to lose money on. Okay? Because
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that's what you're doing. If you don't know what you're
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doing, you're just basically trying to lose your money. And
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there's, there's really no benefit in doing that. Okay. So,
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we're going to assume that you have picked one of the
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majors, okay, so if you're going to be profitable, and I was
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going to be your goal when you start as a trader, hopefully
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that's been the case for everyone, and you live in the
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United States. My advice is to try to trade something that's
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paired with the dollar index and just simply say this, when
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you are profitable, you get better tax treatment when you
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trade $1 based major, okay, and I'll just leave it at that.
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So doesn't mean you can't Make money on the crosses, it just
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means that the bulk of your volume would be better suited in
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a major cross with $1. Okay. And I'm not here teaching tax
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code, you talk to your tax preparer. They have to have some
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knowledge and understanding about forex and concur with what
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I just said. Okay. So we're going to assume you pick a
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major, it could be euro, dollar, pound dollar, dollar,
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swissy, dollar yen, dollar, CAD, Aussie dollar. Pick any one
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of those, okay, and I'm not trying to promote one over the
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other but I will just simply say that I am predominantly a
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GBP USD or cable trader, British pound. I can tell you the
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reason why I feel that way is because I started as a
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commodity trader and the British pound the Deutsche Mark,
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which there isn't a Deutsche Mark anymore. Those two pairs
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or I'm sorry, currencies. I treated them predominantly the
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most as a Currency Trader. And I had really good luck one
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time in the Japanese yen. And then later time in my career,
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it really stumped the crap out of me. And I just don't like
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him. Okay, it doesn't mean that the things don't work in
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yen. It's just I just don't want to try again because it's
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in my head. It's all psychological. And I just don't want to
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submit to having that engage anymore. So I personally don't
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like in but some students do exceptionally well trading yen
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pairs. So don't let me as a mentor or just some guy on the
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internet talking about what he thinks is right. Don't let me
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discourage you from doing any one particular pair of the
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other. I'm just giving you my personal opinion because I get
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a lot of this in email. So I'm trying to compress all that
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into this short little presentation. So we're going to elect
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to go with the euro dollar, and I'm going to use the euro
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dollar because it's the most widely followed in all of the
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Forex market and it's pretty liquid. It's very closely tied
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to the Dollar Index, which, once you go through my
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tutorials, you'll see that that's actually advantageous for
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you because you want to be looking for the imbalances and
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tug of war between the impulse price swings in the dollar.
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They're going to be mirror images of what you see in the
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euro dollar. And by that, I mean, if the dollar is bullish,
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you're going to see extremely
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perfectly timed bearishness on the euro dollar doesn't mean
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it happens all the time. Okay, as you seen last week, we had
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episodes where the euro dollar was held in a range, British
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Pound was allowed to trade higher and lower in trend. And
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that gives us an indication that there's a trade occurring
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in euro pound. And again, that stuff's in the tutorials but
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you got to dig it out and study it. But I'm going to give
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you the bare bones core essentials to scalping and what I've
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already given you is a complete system. It's absolutely
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perfect for a new trader because it gives you The context to
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go in to the charts study, look for certain things and
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you're not wasting your time, you'll be able to see things
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that repeat they have to have a reoccurrence factor. Okay,
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if what you're studying doesn't have the ability to be
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replicated at least a few times a week, you're probably not
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studying anything that has any valid validity or substance,
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you're probably looking at indicators and stuff. And the
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only indicator you're going to see on my chart is a
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Fibonacci. And the only thing I'm highlighting there is a
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target or a specific range and where I think a entry should
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occur, do not fall prey to the idea that everything I'm
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doing hinges solely on the basis of Fibonacci, because it's
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not believe me, I don't even need that Fibonacci. But the
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Fibonacci as a teacher, helps me draw your attention to a
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level I've already arrived that and you're not going to
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believe me, but I knew this high at 116 55 was probable last
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Friday. Last Friday at midnight, last Friday. Now you're not
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gonna believe me, okay? But I don't think I'm not trying to
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convince you that here today, but there are certain concepts
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that repeat themselves with a great deal of precision. And
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they're like clockwork. So if we have to suspend our
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disbelief about the markets being 100% manipulated to the
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degree that that daily high and the daily low is already pre
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determined before the day even begins. So in your notepad,
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if you don't have a notepad next time we watch a live
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session, because anything can happen. YouTube could go on
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the fritz, maybe nine, my compiler doesn't record the video,
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and you'll lose the insights that I get, sometimes won't
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remember what I said, because I'm really not trying to work
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with a script. I know what I want to deliver in such a small
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little segment of insight, but I want to give you some
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foundation and also if I can always try to throw little
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answers to email questions that kind of segue with what I'm
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teaching. But in your notepad, I want you to write down,
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Price Is 100% manipulated, and the daily high and daily low
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are already pre determined at midnight, New York time. So
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that means midnight last night for me, it's seven hours and
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21 minutes ago, the daily high and low has already been pre
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determined for euro dollar. It our era has been determined.
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Now, you don't know what that is. I don't always know what
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it is. But there are certain times of the week where certain
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things align where I had the strongest. Well, I guess
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probability that I know where the daily high or low is going
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to be. I've given you several examples of it on Twitter, in
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video. Yeah, I've already shown you that I've shown you
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trade example. Now, it's not imperative that you know that
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this is the high and therefore you hold to get out exactly
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at 116 55. Because to do that is going to be detrimental to
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your bottom line because you're going to sometimes get it
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wrong. But you don't need to have that actual high. For
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instance, I'll give you an example. And this is to set your
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expectations. I'm not trying to talk to hear myself, okay,
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I'm not trying to waste your time. But what I'm saying here
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me means a lot to take. Take note on this. If we know by way
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of our tools, or what I'm teaching you, if see if we know
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that there's a strong probability, that particular pair to
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work following this case, we're using the Euro dollars in
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example,
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if they can go to 116 55 as a daily high, and you've gotten
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an opportunity to get long, say down here in the New York
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session or if you have a London close continuation with is
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what this is here, optimal trade entry. If either one of
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those are used to get in and your convictions are that we're
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probably going to see the interbank algorithm print a daily
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high of 116 55. If that's the case, don't demand such
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precision that you hold for that exit price. Now, I Showboat
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online to prove to other people that what I talked about is
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really there. I gave you the chart, I wait, I wait and wait
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and wait until the hits the levels I want. And I
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screencapture right when it happens, so that way you guys
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can see it. Be go on Twitter, you'll see that's actually the
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very high on this candle. This particular ones right here
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ain't gonna pop up on this recording, but the actual high
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comes in at 116 55. As the candle was creating that high, it
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never went any higher than that. And it traded lower as a
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result. I do that to prove to the doubters also to reenter
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For the people that are trying to learn from me that is
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absolutely predictable. Now, predictability is not the same
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as profitability because you can still screw up you can
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still demand absolution okay? And you're not going to find
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that okay? There's no forex Jesus, okay, you can pray all
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you want about the market doing what you want to do anything
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you want to do it, okay? So you have to have a rule based
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idea. So my, the way I interpret intraday price action is I
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want to get a rough idea where I think the daily higher
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daily low is going to be. Compare that with a bias. Okay,
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and you have to have a bias traders to say or instructors, I
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say that with quotations in my hands. They'll say you don't
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trade with a bias. It's foolish. Those people don't know
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what they're talking about. Okay, they have no idea what
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you're talking about. And they had no business trying to
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tell anyone what to do, because if they're doing anything at
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all, they're misleading you. I'm telling you the truth.
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These markets are manipulated. They're absolutely not for
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your benefit. They are out there to whale. Okay. And that
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means they're going after big, large institutional funds.
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That's what this is now, yes, there's global commerce that
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they actually are used to facilitate global commerce and
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transactions between countries and nations and doing
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business and stuff. Yeah, that's wonderful. But there's also
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opportunity there. And the opportunity is to go after large
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liquidity basis. And that's not going to be retail. Retail
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is not even on the radar. So if we understand that, that is
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how these markets are operating on a day by day basis, and
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it's the largest market in the world, and it's ran by the
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banks, which, you know, banks don't open up to go into bit
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go out of business, they tend to stay in the business or be
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consumed by larger bank. If we have that understanding, we
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know that there's a large degree of probability that the
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daily higher daily low is going to be pre determined at
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midnight every single day. And once we know what that level
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is, and we compare it with a bias towards if we're bullish
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on the euro dollar As indicated yesterday, okay with optimal
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trade entry here, and what happened in here. My advice to
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you is if you know these things here, okay, and I'm going to
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give you things in my tutorials that help you get to this.
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Now, it's not going to be this precise. This is something
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that is taught in my mentorship. But in the tutorials, I've
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given many instances on how you can get real close to this
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number. So I'll give you an example. I teach the 50 levels
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and the double zero big figure levels are significant. I
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want you and this is something you write down in your
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notepad right now because this homework for you this all
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week, I want you to put every 50 level in every full figure
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00 level and what does that mean? Go to your horizontal
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line. Okay, and we're going to drop it onto a 50 we're gonna
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build it better. So it's on 116 50 and then we're going to
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go down to one 16 00 eyes are still not awake yet. So I
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apologize for being a little
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slow on the deliver here. Okay, so we have 116, big figure,
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and 116 50, mid figure, okay, you'll hear these terms used a
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lot in my tutorials, I want you to put your 15 00 levels on
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the currency pair that you're going to follow. Okay? And I
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want you to use wherever the prices right now, right now
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it's trading at 1630. So the next two levels above and
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below, it's the 50 level and the 00 level, okay? inside of
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that price is going to do all kinds of gyrations. ignore it.
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Don't do anything with it. Okay. I want you to wait until
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price trades to one of these levels, the 50 level or the 00
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level. Okay, and then wait for a reaction. It could come
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down to 16 00. In bounce, come up and create a retracement.
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And that could be an apple trade entry for a day trade and
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test it. I'm not telling you to put live money on any of
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this, I'm telling you, the practice the reactions off the 50
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level and the 000 level, the mid figures and the big
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figures. If we watch these levels over time, you're going to
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see every setup that you'd ever need is on these levels. And
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it's because of the interbank volume. And the banks
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themselves like to work off these levels. They'll defend big
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figures and mid figures at these levels. There's going to be
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a lot of orders, which is what makes these markets move
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around. It's not indicators, none of this stuff, and you'll
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be surprised that most most folks believe that the chart
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itself pushes price and charts are only reflecting the
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sentiment and actions of actual transactions. banks don't
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trade with charts. Okay. It's, it's like a misnomer to you,
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I'm smart money because I'm using the four hour chart now
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it's my way for me to communicate to you the order base that
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will be around that particular price level and it's easily
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seen and observed on a higher timeframe intraday chart like
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a four hour. So don't think that there's any particular
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magic that a down close candle supports price. It's that's
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not it either order blocks are not it. It's just one small
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component to a larger hole that you'll need to consume in my
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content. But for intraday basis, I want you to focus on 00
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levels, and 50 levels. Okay, and just for homework, go back
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through your currency pair. It's real simple. I mean, this
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is drag it to the left. And you'll see there's a lot of
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instances where price creates opportunities at these levels.
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Now, you might have to wait. That's beautiful because it's
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going to teach you patience. If you have the 50 00 level and
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you wait for opportunities to price trades to these
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particular well here's why we're here. Now what I mean when
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it gets to these levels I'm not saying it hits the level
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exactly and bounces, it just means around that level and
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I'll give you the perfect example here. Price runs here
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creates a small little Let me see if it works too high
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because I'm not sure if I can show it to you there. Okay,
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lost it. There it is. Alright, so we have price creating a
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high at 116 oh seven and the last high comes in at exactly
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116 or seven. So it really didn't create one there. It would
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00:22:38,579 --> 00:22:42,599
have been better had it been broke the short term high. But
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that is an awful trade entry. a retracement it would be a
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79% tradesmen level thereby I only but you can see the
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overall pattern. This is what you would expect to see around
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the big figures your level or the 50 level. Okay and
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eventually Time, you're going to graduate to adding the 80
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level and the 20 level. And that's it, you need nothing
356
00:23:05,249 --> 00:23:07,319
else, you don't need to worry about drawing support
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resistance lines on your charts. You don't need to worry
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about putting, you know, any kind of, well, whatever kind of
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00:23:15,569 --> 00:23:18,959
lipstick you usually put on your charts. The books taught me
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use an old high, draw a line across it and prices either
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gonna hit it and repel from resistance or break soon come
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down find support. And I can tell you I've lost hundreds of
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00:23:27,059 --> 00:23:28,229
thousands of dollars don't add.
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It doesn't it doesn't work, because it doesn't give you any
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context about why that level should be traded on the basis
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of order flow. Now not order flows in the form of market
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profile footprint depth of market, I'm not talking about
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that. That's entirely outside the scope of what I do. What I
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internalize is why the market should have orders around
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specific levels. So regardless of what style of trading
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you're going to be, I'm teaching predominantly scalping now
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because it gives you the ability To go in and do a lot of
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00:24:01,530 --> 00:24:04,800
research, a lot of examples, and the things that you learn
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00:24:04,800 --> 00:24:07,590
in price action on scouting will be beneficial for you. And
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all of the types of trading you can do. So, in summary,
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okay, and then we get to the nuts and bolts on closest
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00:24:14,610 --> 00:24:19,320
video, we have the 00 level, big figure, the 50 level and in
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00:24:19,320 --> 00:24:24,000
between that we have 50 and 00. What was the level I told
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00:24:24,000 --> 00:24:31,650
you to watch? The 20 level. Okay, so we want to have our
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00:24:31,650 --> 00:24:41,700
level at 1620 and the other one would be 16 ad. And that's
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00:24:41,700 --> 00:24:47,640
here. Okay. And the next will be 17 00. Okay. So that way,
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00:24:47,670 --> 00:24:49,680
guess what, we've already done all of our work for support
383
00:24:49,680 --> 00:24:56,340
resistance. But it's that easy. Yes. It's not easy, because
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my interpretation of price action is I know what Banks are
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00:25:00,360 --> 00:25:02,490
going to do I know what large institutions are going to do.
386
00:25:02,910 --> 00:25:05,340
Because you can see it yourself going to charts and pull the
387
00:25:05,340 --> 00:25:08,610
same levels up and go back over price action. You'll see it
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00:25:08,610 --> 00:25:13,500
there. Okay, I gave you an example of earlier, excuse me the
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00:25:14,940 --> 00:25:16,830
example earlier where it didn't really give me the apple
390
00:25:16,830 --> 00:25:24,210
trade optimal trade entry. Let's do this. Alright, so if we
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00:25:24,210 --> 00:25:27,840
have that range here, and I know it doesn't qualify for the
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00:25:27,840 --> 00:25:31,050
setup, but I want you to see this is the reaction you get
393
00:25:31,050 --> 00:25:34,230
off of it. But look how the lookout forms around the big
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00:25:34,230 --> 00:25:38,280
figure. And then later on this same price action here, I
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00:25:38,280 --> 00:25:40,650
told you about the optimal trade entry example here
396
00:25:40,650 --> 00:25:44,820
yesterday, look where it occurs on the big figure 16. Now
397
00:25:44,820 --> 00:25:48,270
that's not a coincidence. That's just the way it works. And
398
00:25:48,270 --> 00:25:51,030
what about up here?
399
00:25:56,880 --> 00:25:58,980
Isn't that an optimal trade entry? I gave you the daily high
400
00:25:58,980 --> 00:26:05,910
yesterday. Look at the opportunity to tier highest body open
401
00:26:05,910 --> 00:26:10,800
or close down to the lowest body open or close. Perfect 279.
402
00:26:11,100 --> 00:26:14,130
Yes, I'm tracing level cells off. And then here's another
403
00:26:14,130 --> 00:26:19,800
one smaller one sells off. There you go symmetrical price
404
00:26:19,800 --> 00:26:23,790
swing. So I gave you real institutional support resistance.
405
00:26:24,660 --> 00:26:27,540
I told you how to find the optimal trade entries on a scalp.
406
00:26:29,100 --> 00:26:31,860
They set up easy. You're not scratching your head looking at
407
00:26:31,860 --> 00:26:35,040
the chart saying, good grief. What support resistance do I
408
00:26:35,040 --> 00:26:39,210
use? What supply and demand zone do I use? What you know?
409
00:26:40,470 --> 00:26:44,580
I'm being facetious now, but I want you to know that the
410
00:26:44,580 --> 00:26:48,780
folks that try to teach you these things, okay. In terms of
411
00:26:48,780 --> 00:26:52,380
technical analysis, they have for the most part at zero
412
00:26:52,380 --> 00:26:55,470
understanding of what goes on in institutional basis. Okay.
413
00:26:56,190 --> 00:27:00,000
support resistance are based on orders. They're not based on
414
00:27:00,000 --> 00:27:03,750
Anything other than that. So without having an understanding
415
00:27:03,750 --> 00:27:06,330
of why price is going to move and gyrate around specific
416
00:27:06,330 --> 00:27:09,210
levels, you're going to be losing money, you're going to
417
00:27:09,210 --> 00:27:10,920
hemorrhage money, and then you're going to go into this
418
00:27:10,920 --> 00:27:15,510
cycle where looking for things, and having no understanding
419
00:27:15,510 --> 00:27:18,240
or definition of what it is you're looking for. It's gonna
420
00:27:18,240 --> 00:27:22,500
frustrate you. And the human characteristic in us is going
421
00:27:22,500 --> 00:27:25,590
to be, well, what I just did didn't work. So I need to do it
422
00:27:25,590 --> 00:27:29,400
harder, immediately. Because I need to have the reaction I
423
00:27:29,400 --> 00:27:33,150
want and then trading, that is the death sentence for you.
424
00:27:34,080 --> 00:27:36,600
You need to stop and just be patient. What are you waiting
425
00:27:36,600 --> 00:27:39,120
for? You're waiting for one of these levels to trade. And
426
00:27:39,120 --> 00:27:41,640
this is when I say these are institutional price levels.
427
00:27:42,000 --> 00:27:49,440
Okay. I get jeered and prodded by folks that unconvinced
428
00:27:49,440 --> 00:27:52,710
that they use my stuff and don't want to admit to it, but
429
00:27:52,710 --> 00:27:55,380
they hate the fact that I can draw up attention real quick,
430
00:27:55,710 --> 00:27:59,130
and I can teach right away something that's applicable and
431
00:27:59,130 --> 00:28:01,620
some of them either aspiring to start their own company or
432
00:28:01,620 --> 00:28:04,170
start their own signal service or own business. And the best
433
00:28:04,170 --> 00:28:08,070
way to do their business is to try to tear me down. Because
434
00:28:08,070 --> 00:28:11,820
I was the guy on the internet for years doing for free. Now,
435
00:28:11,820 --> 00:28:13,830
I still am doing this for free. You didn't pay anything to
436
00:28:13,830 --> 00:28:16,410
learn this. But right now what I've already given you in the
437
00:28:16,410 --> 00:28:21,750
YouTube videos I've already given you in my forum. I've
438
00:28:21,750 --> 00:28:28,410
given you in old tutorials. And now with just this, you have
439
00:28:28,410 --> 00:28:34,530
no reason to subscribe to any subscriber base programs, not
440
00:28:34,530 --> 00:28:37,800
even to mine. Okay, now think about this. Think about what I
441
00:28:37,800 --> 00:28:41,550
just did. Okay? If I'm in this to make money and panhandle
442
00:28:41,550 --> 00:28:45,120
off anyone, why on Why the hell would I just give you
443
00:28:45,180 --> 00:28:49,320
something that you would never ever ever need to pay me or
444
00:28:49,320 --> 00:28:52,230
anyone else for again, what kind of business model is that?
445
00:28:53,220 --> 00:28:55,650
It's the same business model I use when I first started. I
446
00:28:55,650 --> 00:28:58,680
gave all this stuff out for free, because I'm already rich.
447
00:28:58,830 --> 00:29:02,460
I don't need anybody's money. Okay, I enjoy doing this. But
448
00:29:02,460 --> 00:29:05,250
there's certain things I'm not going to teach publicly. I'm
449
00:29:05,250 --> 00:29:09,120
just not going to do it. Do you need anything beyond this?
450
00:29:09,210 --> 00:29:13,680
No. Because what is it done? It tells you where the setups
451
00:29:13,710 --> 00:29:17,790
occur. Wait a minute. It's just that easy. It's absolutely
452
00:29:17,790 --> 00:29:20,460
just that easy. You have these levels on your chart and I
453
00:29:20,460 --> 00:29:22,740
don't care about what pair it is you're trading. This works
454
00:29:22,740 --> 00:29:25,680
on the British pound. It works on the Canadian dollar. It
455
00:29:25,680 --> 00:29:29,490
works on Bitcoin, try it on that I don't trade it. Okay. But
456
00:29:29,730 --> 00:29:33,090
for feedback, I know that my people trade Bitcoin, do it on
457
00:29:33,090 --> 00:29:37,080
Bitcoin and just see if it doesn't work on Bitcoin. I'm
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00:29:37,080 --> 00:29:38,970
interested to know because I don't really track that asset
459
00:29:38,970 --> 00:29:42,090
class. But everything out there, it works on commodities, it
460
00:29:42,090 --> 00:29:47,760
works on the bond. It works on. Stocks, it works on
461
00:29:47,820 --> 00:29:53,280
everything, because it's the same mo the people that run
462
00:29:53,490 --> 00:29:58,680
these markets, they use the same business model. It's all
463
00:29:58,680 --> 00:30:02,250
the same thing. Accumulation distribution and manipulation,
464
00:30:02,370 --> 00:30:04,650
those three things, there's three components, you need to
465
00:30:04,650 --> 00:30:07,740
know what it is that the cycle is in right now. And it
466
00:30:07,740 --> 00:30:11,430
sounds complicated, sounds mysterious. And I made my
467
00:30:11,550 --> 00:30:14,070
presentations like that to draw everyone's attention.
468
00:30:15,509 --> 00:30:18,209
I'm trying not to do that now. And I'm going right to the
469
00:30:18,209 --> 00:30:21,299
core of what it is that you should be focusing on because it
470
00:30:21,299 --> 00:30:23,819
created a lot of work for me in terms of emails. I got
471
00:30:23,819 --> 00:30:26,159
frustrated over the years and said, you know what he's just
472
00:30:26,159 --> 00:30:29,399
saying repeating questions. If I ever do this again, and I
473
00:30:30,029 --> 00:30:33,719
just recently started coming back and providing content. I
474
00:30:33,719 --> 00:30:37,319
want it to be concise. I want it to be user friendly right
475
00:30:37,319 --> 00:30:42,089
away, and it leaves very little in terms of guessing about
476
00:30:42,089 --> 00:30:47,879
what else alluding to. So in summary, I want you to pick one
477
00:30:47,879 --> 00:30:53,219
pair. I just used the euro dollar here today, okay. And if
478
00:30:53,219 --> 00:30:57,689
we use one pair, we want to have our levels arrived at so
479
00:30:57,689 --> 00:31:01,589
our support resistance levels are going to be what 00 level
480
00:31:01,859 --> 00:31:07,079
two at level 220 level and the mid figure 50. Okay, they are
481
00:31:07,079 --> 00:31:10,739
your support resistance levels. Do not concern yourself with
482
00:31:10,739 --> 00:31:13,649
anything else for right now, I promise you, if you watch
483
00:31:13,649 --> 00:31:17,369
over the course of a week, you'll see one good setup. And
484
00:31:17,369 --> 00:31:20,309
that's all I want you focusing on right now, do not try to
485
00:31:20,309 --> 00:31:23,549
do everyday trading. I've been doing this for a long, long
486
00:31:23,549 --> 00:31:29,579
time. In March, I'll be 25 years doing it. So my ability to
487
00:31:29,579 --> 00:31:33,599
do it is completely going to be well above what you're able
488
00:31:33,599 --> 00:31:36,359
to do for starting. So don't compare that or contrast that
489
00:31:36,359 --> 00:31:39,449
just because an instructor can do it. And he taught you or
490
00:31:39,449 --> 00:31:41,699
she taught you doesn't mean that you're gonna be able to
491
00:31:41,699 --> 00:31:43,949
walk out and do the same thing the first day or the first
492
00:31:43,949 --> 00:31:47,069
year, it ain't gonna happen. So you have to grow into that.
493
00:31:47,489 --> 00:31:50,549
So we have support resistance levels determined and also
494
00:31:50,549 --> 00:31:53,879
gave you previous highs and previous lows. So there's your
495
00:31:53,879 --> 00:31:58,589
targets, okay, so you know, a levels gonna set up around one
496
00:31:58,589 --> 00:32:01,949
of these levels here. And what's the setup optimal trade
497
00:32:01,949 --> 00:32:07,349
entry? You're waiting for a scenario where this retracement
498
00:32:07,349 --> 00:32:11,369
idea occurs. Sometimes it will be right on the level and hit
499
00:32:11,369 --> 00:32:14,369
it. Sometimes it won't. Sometimes it will go through it
500
00:32:14,369 --> 00:32:17,249
again, you're generally looking for this pattern optimal
501
00:32:17,249 --> 00:32:22,499
trade entry around 800 level a 50 level, a 20, or an 80. And
502
00:32:22,499 --> 00:32:26,549
I promise you, I guaran damn tee you if you go through your
503
00:32:26,549 --> 00:32:29,459
charts, you're gonna see a plethora of these examples. Now,
504
00:32:29,459 --> 00:32:33,179
I don't want you again, trying to do this every single day,
505
00:32:33,599 --> 00:32:36,329
because I've taught that you can double your money every
506
00:32:36,329 --> 00:32:40,919
single year with just less than 25 pips 23 pips a week, a 2%
507
00:32:40,919 --> 00:32:44,099
risk if you know what you're doing. It doubles your money
508
00:32:44,129 --> 00:32:46,829
every single year, you start with $1,000 and 10 years,
509
00:32:47,549 --> 00:32:50,729
that's a million dollars. Now it doesn't quote, equate to
510
00:32:51,509 --> 00:32:55,379
taxation and such but it doesn't take very much to do very
511
00:32:55,379 --> 00:32:58,229
well. And that's my point. Every one of you that are
512
00:32:58,229 --> 00:33:00,509
starting right now. That's where you should be. Living.
513
00:33:00,779 --> 00:33:02,699
That's your neighborhood right now you're not trying to get
514
00:33:02,699 --> 00:33:06,059
to the Beverly Hills, okay, you got to start somewhere. I
515
00:33:06,059 --> 00:33:09,839
started somewhere small. And believe me, it did not take
516
00:33:09,839 --> 00:33:13,289
long to get very good at this and to be able to find setups
517
00:33:13,289 --> 00:33:18,479
consistently, very, very consistently. So we have one pair,
518
00:33:19,679 --> 00:33:22,529
we're gonna put our institutional levels here. That's our
519
00:33:22,529 --> 00:33:25,019
our support resistance ideas, our patterns, optimal trade
520
00:33:25,019 --> 00:33:29,819
entry. What's our daily bias already taught you that what's
521
00:33:29,819 --> 00:33:32,309
going on on a daily chart? Did it create a swing high or
522
00:33:32,309 --> 00:33:34,679
swing low, if it's a swing low, we're going to continue to
523
00:33:34,679 --> 00:33:37,319
look for the previous day's high to be taken out. If it's a
524
00:33:37,319 --> 00:33:40,349
swing high. We're looking for the previous day's low to be
525
00:33:40,349 --> 00:33:43,259
taken out. There's our bias. And you're going to wait for
526
00:33:43,259 --> 00:33:45,809
these setups to occur at these institutional price levels.
527
00:33:46,049 --> 00:33:50,129
Now what I just gave you will never ever, ever, ever, ever
528
00:33:50,159 --> 00:33:53,369
stop working. Because if I ever felt that you never would
529
00:33:53,369 --> 00:33:57,119
have met me I never would have taught it to you. This is how
530
00:33:57,119 --> 00:34:01,319
the casino runs. The casino is tomorrow. They're not going
531
00:34:01,319 --> 00:34:03,809
to change how they're doing it because Michael Huddleston
532
00:34:03,809 --> 00:34:07,169
from Baltimore, Maryland, made some videos on YouTube. And I
533
00:34:07,169 --> 00:34:10,289
don't care how many people subscribe to it. It's never going
534
00:34:10,289 --> 00:34:14,219
to start working because there's always new suckers. The
535
00:34:14,219 --> 00:34:19,589
market will always draw in a new pound of flesh. And I don't
536
00:34:19,589 --> 00:34:21,959
care about trying to be right every single trading day.
537
00:34:22,349 --> 00:34:27,179
That's not my concern. Yesterday, I had fiber dialed in, and
538
00:34:27,179 --> 00:34:32,129
I did not trade it. Do I regret it? No. Am I gonna not be
539
00:34:32,129 --> 00:34:35,069
able to eat because of it? No. Am I gonna lose sleep over
540
00:34:35,069 --> 00:34:35,549
it? No.
541
00:34:36,990 --> 00:34:40,620
I am indifferent to whether I take a trade or not take a
542
00:34:40,620 --> 00:34:44,400
trade because I don't care anymore. I'm satisfied that I
543
00:34:44,400 --> 00:34:47,310
know if I sit down. I'll find a setup. That's what you need
544
00:34:47,310 --> 00:34:50,880
to graduate into. But you will not get that. If you go and
545
00:34:50,880 --> 00:34:54,090
seeking a setup every single trading day because you're
546
00:34:54,090 --> 00:34:58,800
teaching yourself to get stimulated and rewarded. The
547
00:34:58,800 --> 00:35:02,400
problem is that reward won't come in a positive return. The
548
00:35:02,400 --> 00:35:05,370
reward sometimes is going to be experienced always. But that
549
00:35:05,370 --> 00:35:08,730
experience may be against what you thought would be, you
550
00:35:08,730 --> 00:35:11,850
know where it's a loss. And that's learning. That's where
551
00:35:11,850 --> 00:35:14,520
you grow. You're going to try to avoid that. And I'm going
552
00:35:14,520 --> 00:35:18,090
to tell I'm telling you invite that to occur. You want that
553
00:35:18,090 --> 00:35:20,910
to happen. That's why you're in a demo, you want to learn
554
00:35:21,000 --> 00:35:25,080
how to absorb that tendency to be wrong, and see how quickly
555
00:35:25,080 --> 00:35:28,230
it is to recover, recuperate and come back from that loss.
556
00:35:28,350 --> 00:35:31,740
Because the next series of setups that will come I'm not
557
00:35:31,740 --> 00:35:33,960
afraid of my setups failing I'm not afraid of my setups
558
00:35:33,960 --> 00:35:37,140
never coming again, or the frequency the die off, they're
559
00:35:37,140 --> 00:35:39,900
always going to be these setups will always be there in the
560
00:35:39,900 --> 00:35:43,110
summertime, they're always there. In the shittiest times of
561
00:35:43,110 --> 00:35:46,260
the marketplace, these are always there. Because there's
562
00:35:46,290 --> 00:35:50,970
orders always stacked around these levels, just above, at or
563
00:35:50,970 --> 00:35:55,950
just below in these big levels of 5020 and large double zero
564
00:35:55,950 --> 00:35:59,610
levels, orders or movement, push price around orders by
565
00:35:59,610 --> 00:36:03,330
largest institutions, insurance companies, larger banks,
566
00:36:03,480 --> 00:36:05,760
okay, large corporations, like for instance, say, you know,
567
00:36:05,760 --> 00:36:10,140
apple, they want to do business in China, they got it, they
568
00:36:10,140 --> 00:36:13,200
got to make a transition from the dollar to the Chinese
569
00:36:13,200 --> 00:36:16,860
currency. Well, that's forex. And that's what goes on that
570
00:36:16,920 --> 00:36:22,440
there has to be an exchange that creates gyrations around
571
00:36:22,440 --> 00:36:26,310
specific price levels. So if Apple puts in a request to
572
00:36:27,270 --> 00:36:30,930
convert $2 billion worth of dollars into Chinese currency,
573
00:36:30,930 --> 00:36:33,990
or you could be the British pound, they want to do business
574
00:36:33,990 --> 00:36:39,810
in the UK even do something that is going to be a large
575
00:36:40,170 --> 00:36:45,030
inflow of orders that a bank can use, and they'll take that
576
00:36:45,150 --> 00:36:48,870
request that convert dollars into British pound or Chinese
577
00:36:48,870 --> 00:36:50,700
currency or whatever it is that they're trying to do. I'm
578
00:36:50,700 --> 00:36:54,060
just giving an example on a global commerce basis. They'll
579
00:36:54,060 --> 00:36:56,970
use that and I'll frame it around one of these levels unless
580
00:36:56,970 --> 00:37:00,810
the customer demands a specific range of what they're
581
00:37:00,810 --> 00:37:04,320
willing to convert. And sometimes that curves and sometimes
582
00:37:04,320 --> 00:37:07,530
it's not they want it done expediently, well, then it goes
583
00:37:07,710 --> 00:37:11,640
in the favor of the bank that does the conversion. But I'm
584
00:37:11,640 --> 00:37:13,950
not here to teach you all that stuff. It's not necessary.
585
00:37:13,950 --> 00:37:16,440
But I'm just telling you, there's a Reimann reason why this
586
00:37:16,440 --> 00:37:19,440
stuff works. It's not simply because it worked perfectly in
587
00:37:19,440 --> 00:37:22,140
hindsight, and I showed you examples of it. I want you to
588
00:37:22,140 --> 00:37:25,560
take this vignette today and prove to yourself, I'm already
589
00:37:25,560 --> 00:37:28,110
convinced of it. Okay, you're not going to convince me of it
590
00:37:28,350 --> 00:37:32,340
already know. But you as the student, you need to know that
591
00:37:32,340 --> 00:37:35,250
there's no reason for you to rush, having these levels on
592
00:37:35,250 --> 00:37:38,430
your chart, using the daily bias concept I've already taught
593
00:37:38,430 --> 00:37:42,150
you. And also what the optimal trade entry pattern is the
594
00:37:42,150 --> 00:37:44,340
Fibonacci I keep getting asked that question. What's these
595
00:37:44,340 --> 00:37:47,310
levels? How do I get that on my fed, go into the optimal
596
00:37:47,310 --> 00:37:49,680
trade entry primer video, it's on the YouTube channel, and
597
00:37:49,680 --> 00:37:52,680
it'll teach you that whole business has set it off about
598
00:37:52,710 --> 00:37:59,010
exactly how I have it here. Now. In future teachings, I'm
599
00:37:59,010 --> 00:38:02,850
going to help you get To the point of knowing where your
600
00:38:02,850 --> 00:38:06,600
target is, where your entry is, and how to use that in terms
601
00:38:06,600 --> 00:38:09,240
of your money management. And I think that will really
602
00:38:09,240 --> 00:38:12,480
summarize the whole thing in terms of the complete trading
603
00:38:12,480 --> 00:38:16,230
patterns system and you won't need anything else. Now, I'm
604
00:38:16,230 --> 00:38:19,080
encouraging you to study the tutorials that I've made over
605
00:38:19,080 --> 00:38:22,950
the years. But you don't need to be at a feverish pace going
606
00:38:22,950 --> 00:38:25,050
through them. I know you're all thinking that they're all
607
00:38:25,050 --> 00:38:27,660
going to disappear again. But what I'm doing is I'm actually
608
00:38:27,690 --> 00:38:31,830
going into them and removing certain songs. I'm removing
609
00:38:31,830 --> 00:38:37,020
certain comments I made about a particular form that I
610
00:38:37,020 --> 00:38:38,910
believe is toxic and it's not baby pips.
611
00:38:40,530 --> 00:38:44,430
And I just want to keep the presentation as clean as I
612
00:38:44,430 --> 00:38:47,580
possibly can. And I am monetizing them. I'm putting them on
613
00:38:47,580 --> 00:38:51,090
my YouTube channel. So I'm also including certain things and
614
00:38:51,090 --> 00:38:54,480
encouraging folks that if they see my videos being uploaded
615
00:38:54,480 --> 00:38:57,780
by anyone else, I usually get flagged, and then someone else
616
00:38:58,530 --> 00:39:03,240
will tell me or that I add in my videos, I pay for a service
617
00:39:03,420 --> 00:39:06,090
that show me where my videos are being posted or re
618
00:39:06,090 --> 00:39:10,170
uploaded, I get a lot of flags about Google drives, I get
619
00:39:10,170 --> 00:39:12,180
that like, on a weekly basis, a lot of people have it in
620
00:39:12,180 --> 00:39:16,410
their Google Drive. Sometimes, you know, I'll reach out and
621
00:39:16,410 --> 00:39:18,810
try to touch them and say, looking at Can you not do that.
622
00:39:18,840 --> 00:39:21,240
And some, most of them are all set to like private, where
623
00:39:21,240 --> 00:39:24,480
people aren't publicly sharing it. But I, if I've created
624
00:39:24,480 --> 00:39:28,140
the video, and I did all the work, okay, I should get the
625
00:39:28,260 --> 00:39:31,020
perks of it. And the folks that tried to put my videos up in
626
00:39:31,020 --> 00:39:34,020
the past, when YouTube they're trying to monetize it. And
627
00:39:34,020 --> 00:39:36,210
they learned it by having songs in it wasn't able to
628
00:39:36,210 --> 00:39:39,720
monetize it. So now I'm removing songs that allows me to
629
00:39:39,720 --> 00:39:43,200
monetize my own work. But I don't want other people doing
630
00:39:43,200 --> 00:39:45,510
that. And I'll come after those individuals and have them
631
00:39:45,510 --> 00:39:48,390
take it down off of YouTube. So and plus it, like I said, I
632
00:39:48,390 --> 00:39:52,140
pay for a service to do that. And for me to cover the cost
633
00:39:52,140 --> 00:39:54,390
on that. The monetization, I could tell you right now, I'm
634
00:39:54,390 --> 00:39:56,370
not making a lot of money on youtube off of these videos,
635
00:39:56,370 --> 00:40:00,000
but it does help pay for costs of doing things like this.
636
00:40:00,810 --> 00:40:04,590
doing live sessions and the resources that I'm going to make
637
00:40:04,590 --> 00:40:07,890
available to you, all that stuff cost me money, I put about
638
00:40:07,890 --> 00:40:12,210
$15,000 into all those previous teachings that you guys just
639
00:40:12,210 --> 00:40:15,960
watch for free. And you don't really consider that when
640
00:40:15,960 --> 00:40:18,690
you're looking at it. But for years, I paid a lot of money.
641
00:40:19,290 --> 00:40:23,280
And I like teaching. But at some point, if I'm gonna
642
00:40:23,280 --> 00:40:26,250
continue until I don't want to do this anymore, it's got to
643
00:40:26,250 --> 00:40:32,550
be some kind of cost deferment on the basis that if you're
644
00:40:32,550 --> 00:40:35,460
consuming it, and you find value in it, great, you know,
645
00:40:35,460 --> 00:40:38,460
support the videos by watching YouTube. And you know, if you
646
00:40:38,460 --> 00:40:40,410
have ad blocker on it, I'm not going to get any revenue off
647
00:40:40,410 --> 00:40:44,730
of that. But if you if you have an ad blocker, I'm not going
648
00:40:44,730 --> 00:40:46,770
to get that. But in my forum, I'm just letting you know,
649
00:40:46,800 --> 00:40:49,770
it's a free forum. But there will be ads in that it's going
650
00:40:49,770 --> 00:40:53,610
to be Google AdSense. So I'm not going to add subscriber
651
00:40:53,610 --> 00:40:56,970
base membership to it. It'll all be ad supported. And my
652
00:40:58,110 --> 00:41:03,120
assumptions are with about five hundred thousand views in my
653
00:41:03,150 --> 00:41:09,060
regular mentorship group per month and only got 664 members
654
00:41:09,060 --> 00:41:11,580
that have made all the way through, I get about half a
655
00:41:11,580 --> 00:41:16,170
million views of traffic in my mentorship forum. So I know I
656
00:41:16,170 --> 00:41:19,620
could probably get about two, two and a half million views.
657
00:41:19,620 --> 00:41:22,740
That's my projection on my free membership forum. And
658
00:41:22,740 --> 00:41:25,110
that'll support a lot of things. I don't have to charge you
659
00:41:25,110 --> 00:41:28,410
anything. They'll support also the cost of me running my
660
00:41:28,410 --> 00:41:30,720
mentorship forum as well because that costs money as well.
661
00:41:31,080 --> 00:41:36,240
So I'm being completely transparent as best I can. That way
662
00:41:36,240 --> 00:41:39,540
I hopefully can avoid a lot of the stupid stuff that comes
663
00:41:39,540 --> 00:41:43,260
by way of Twitter and email. But you've been given a really
664
00:41:43,260 --> 00:41:46,380
good foundation today in terms of what levels you're looking
665
00:41:46,380 --> 00:41:50,190
for, why you're looking for them, where the setups, how the
666
00:41:50,190 --> 00:41:52,590
setup looks sometimes around that level, and I given you
667
00:41:52,590 --> 00:41:55,530
just a small sampling here, your homework has to go through
668
00:41:55,560 --> 00:42:00,000
your particular pair and I encourage you to not use your
669
00:42:00,000 --> 00:42:03,330
Dollar, because I did it and I don't want you mimicking me
670
00:42:03,870 --> 00:42:06,420
think independently, you might want to do something else
671
00:42:06,420 --> 00:42:10,170
like the Aussie dollar or Kiwi dollar. Pick one, it could be
672
00:42:10,170 --> 00:42:13,920
the the beast. Okay, pound yen, it still works there too.
673
00:42:15,210 --> 00:42:18,120
But wait for one of these levels to be traded to, and then
674
00:42:18,120 --> 00:42:19,770
wait for that daily bias
675
00:42:20,700 --> 00:42:24,660
to come in and then target daily highs and daily lows for
676
00:42:24,690 --> 00:42:27,570
runs on liquidity. And you have a complete system. The only
677
00:42:27,570 --> 00:42:30,120
thing you're missing right now and lacking is what you do
678
00:42:30,120 --> 00:42:32,280
with your account. How much of your risk, where's your stop
679
00:42:32,280 --> 00:42:35,430
loss? And the question I'm getting now is how much do I take
680
00:42:35,430 --> 00:42:38,250
off at these targets? And that's going to be completely up
681
00:42:38,250 --> 00:42:41,610
to you. I don't ever give that in my mentorship and believe
682
00:42:41,610 --> 00:42:45,450
me if they were all invited to answer this on Twitter, they
683
00:42:45,450 --> 00:42:48,450
would all tell you, I tell them the same thing and they paid
684
00:42:48,450 --> 00:42:52,230
for this insight at these levels in here. It's completely up
685
00:42:52,230 --> 00:42:56,220
to you because it's your trade. A mine is never the same way
686
00:42:56,220 --> 00:42:59,310
always. I don't always say I'm gonna take 30% off here and
687
00:42:59,310 --> 00:43:03,780
50% here. I just go by what I see in the chart. And if I
688
00:43:03,780 --> 00:43:06,720
feel that the continuation is most likely going to occur,
689
00:43:07,230 --> 00:43:10,830
then I will leave a larger portion on. If I am in doubt
690
00:43:10,830 --> 00:43:14,010
about the continuation to the next target to or symmetrical
691
00:43:14,010 --> 00:43:17,880
price swing, then I'll take a larger degree at first profit,
692
00:43:18,090 --> 00:43:20,640
and then leave a smaller portion and then I'll split that in
693
00:43:20,640 --> 00:43:25,560
half at the next logical level. As you see in my examples, I
694
00:43:25,560 --> 00:43:28,950
very rarely have a large position on at the end of the
695
00:43:28,950 --> 00:43:31,710
trade. And I'm never really holding to the last point and
696
00:43:31,710 --> 00:43:35,190
that's my final point in this if you know that this is
697
00:43:35,190 --> 00:43:39,300
likely the high. Okay, and I'll give you tools that will
698
00:43:39,300 --> 00:43:42,990
help you do that in the tutorials. If this is your objective
699
00:43:42,990 --> 00:43:47,550
on a daily Hi, my personal conviction over the last two
700
00:43:47,550 --> 00:43:51,960
decades and trading is what I gleaned from my mentor Larry
701
00:43:51,960 --> 00:43:54,000
Williams. Now he didn't sit down with me on a day by day
702
00:43:54,000 --> 00:43:57,210
basis. I'd never met him. I never shook his hand. But I
703
00:43:57,210 --> 00:43:59,490
researched everything about everything the man ever did.
704
00:43:59,640 --> 00:44:02,760
Okay. Just like my students say they hear my voice in their
705
00:44:02,760 --> 00:44:05,370
head, I still hear Larry's voice in mind. And sometimes I'm
706
00:44:05,370 --> 00:44:07,410
telling him to shut up because some of the things he taught,
707
00:44:08,130 --> 00:44:11,430
I don't subscribe to. I evolved beyond and I want you to
708
00:44:11,430 --> 00:44:14,730
have that same benefit. Don't take everything I say as
709
00:44:14,730 --> 00:44:18,900
gospel, let it be a challenge to you and dig deeper. But if
710
00:44:18,900 --> 00:44:21,240
I do say stay away from indicators, trust when I tell you,
711
00:44:21,270 --> 00:44:22,350
that's the best thing you can do.
712
00:44:24,060 --> 00:44:26,400
I learned from Larry Williams if he knows he has a target
713
00:44:26,550 --> 00:44:30,000
he's looking for. Okay. His is basically a profitable
714
00:44:30,030 --> 00:44:33,690
clothes. In other words, if he's in long, the daily clothes,
715
00:44:33,690 --> 00:44:37,530
he's trying to hold on for that. If he gets out before that,
716
00:44:38,100 --> 00:44:43,440
but not at the close. He's doing you know, the best service
717
00:44:43,440 --> 00:44:46,260
he can provide for himself. Because it may not get to that
718
00:44:46,260 --> 00:44:50,910
level. I may not see 116 55 they might go to 116 54 and my
719
00:44:50,910 --> 00:44:56,160
limit was at 60 1655 I've had to happen to me. So what I do
720
00:44:56,160 --> 00:45:01,470
is I go 1015 sometimes 20 pips early And I get out there.
721
00:45:01,770 --> 00:45:04,050
Why? Because I want to make sure I'm getting out at a
722
00:45:04,050 --> 00:45:06,840
logical level, price is moving in my favor. And I don't care
723
00:45:06,840 --> 00:45:10,800
about looking smart. I want to make sure that my homes are
724
00:45:10,800 --> 00:45:14,370
paid for my insurance on my vehicles, all the things that I
725
00:45:14,370 --> 00:45:18,210
do on a day by day basis, it's going to be supported. And
726
00:45:18,210 --> 00:45:21,750
I'm never going to have to go down in my network, it's
727
00:45:21,750 --> 00:45:23,910
always going to be increasing, doesn't mean I'm not taking
728
00:45:23,910 --> 00:45:27,810
losses. It just means that in my business model, I want me
729
00:45:28,230 --> 00:45:33,690
focusing on profitability, not perfect, not precision entry
730
00:45:33,690 --> 00:45:36,810
exits always. The point is if you know this is the entry
731
00:45:36,810 --> 00:45:40,650
down here, or this is down here, I'm sorry, here. And this
732
00:45:40,650 --> 00:45:43,980
is where the logical target is getting out before that
733
00:45:44,010 --> 00:45:47,190
there's nothing wrong with that. The folks that will say
734
00:45:47,280 --> 00:45:49,200
that stupid, that's your target should hold on to it.
735
00:45:49,800 --> 00:45:55,440
They're not profitable. They're holding on to absolutes and
736
00:45:55,440 --> 00:46:00,990
absolutes don't pay. Now, analysis and exit are two
737
00:46:00,990 --> 00:46:04,650
different entirely thing two different things. I use my
738
00:46:04,650 --> 00:46:07,020
analysis to give me the rough idea of where I should be
739
00:46:07,020 --> 00:46:10,110
getting out at the best case scenario. And what I make is an
740
00:46:10,140 --> 00:46:13,350
exit is earlier than that. And I'll let the guys that want
741
00:46:13,350 --> 00:46:16,470
to be hot shots, try to hold on for those last bits, I get
742
00:46:16,470 --> 00:46:20,160
the accolades in high fives by knowing in advance and
743
00:46:20,160 --> 00:46:22,830
showing you the levels beforehand. And the traders that are
744
00:46:22,830 --> 00:46:26,130
new, they see this and they go crazy. Oh, he's getting out
745
00:46:26,130 --> 00:46:29,670
too high. No, I'm not. I'm absolutely not doing that. And I
746
00:46:29,670 --> 00:46:32,490
don't have my full position on there either. I have paid
747
00:46:32,490 --> 00:46:34,350
myself throughout the way and I didn't take this trail and
748
00:46:34,350 --> 00:46:39,000
saying, from a conceptual standpoint, I pay myself for the
749
00:46:39,000 --> 00:46:42,090
time I've invested in the risk. Now there's going to be
750
00:46:42,090 --> 00:46:45,300
people that say, well see that's stupid, because risk reward
751
00:46:45,300 --> 00:46:47,790
says that you had the most maximum risk on at the beginning
752
00:46:47,790 --> 00:46:50,850
of the trade and you're taking off. I'm yeah, I'm taking
753
00:46:50,850 --> 00:46:52,740
money out of the marketplace. Hello. That's what you're
754
00:46:52,740 --> 00:46:55,710
doing this for. I'm managing risk because I'm reducing the
755
00:46:55,710 --> 00:47:00,000
risk as I stay longer in the trade. Okay, and I'm satisfying
756
00:47:00,000 --> 00:47:04,410
that urge to be a male conqueror, the caveman mentality
757
00:47:04,410 --> 00:47:07,890
that's in men that we're hardwired to feel that I still am
758
00:47:07,890 --> 00:47:11,730
satisfied with that because I have something small one, or
759
00:47:12,060 --> 00:47:15,750
I've already noted that hi in advance, so that satisfies me
760
00:47:15,750 --> 00:47:18,270
and ego. And you're always going to as a male, you're going
761
00:47:18,270 --> 00:47:20,340
to have you don't care who you are, you're going to expect
762
00:47:20,340 --> 00:47:23,430
if you get good at this, it just happens. I was not an
763
00:47:23,430 --> 00:47:25,740
egotistical maniac. When I first started this, I was very,
764
00:47:25,740 --> 00:47:30,360
very quiet, docile, very rarely said anything blue collar.
765
00:47:30,540 --> 00:47:34,530
And I was Mr. Nice Guy. And when you start making $17,000 a
766
00:47:34,530 --> 00:47:37,380
week, that stuff changes real quick, and you think your shit
767
00:47:37,380 --> 00:47:39,480
doesn't stink, and you're better than everybody else. And
768
00:47:39,480 --> 00:47:42,570
it's an ugly trait, but it's something that people go
769
00:47:42,570 --> 00:47:45,060
through. And unless somebody smacked you down, and for me,
770
00:47:45,120 --> 00:47:48,960
it was God. He put the Godsmack on me and humbled me and it
771
00:47:48,960 --> 00:47:50,790
doesn't probably sound like I'm been humbled, but believe
772
00:47:50,790 --> 00:47:55,620
me, I do a lot of character ization and just, I try to be
773
00:47:55,620 --> 00:47:58,350
entertaining when I'm online. Sometimes it doesn't. It
774
00:47:58,350 --> 00:48:02,310
doesn't deliver well. Sometimes it does. But I do those
775
00:48:02,310 --> 00:48:06,300
things, to try to satisfy those little percolation in my
776
00:48:06,300 --> 00:48:10,230
ego. I have to wrestle with that every single day because
777
00:48:10,230 --> 00:48:16,170
what I do is so good. It's hard not to be egotistical, it's
778
00:48:16,170 --> 00:48:19,470
hard not to be arrogant. It takes a great deal of effort not
779
00:48:19,470 --> 00:48:22,080
to do those types of things. So for the young guys, in
780
00:48:22,080 --> 00:48:27,030
closing, as you learn this stuff, do not take this as an
781
00:48:27,030 --> 00:48:32,070
invitation to go on social media, Facebook, Instagram, and
782
00:48:32,070 --> 00:48:34,860
become the next forex baller.
783
00:48:36,360 --> 00:48:38,910
Believe me, it doesn't deliver, like you think it will,
784
00:48:39,150 --> 00:48:42,690
you're not going to deliver a message that people are gonna
785
00:48:42,690 --> 00:48:44,580
fall in love with. They're gonna say, Oh, this guy's a jerk,
786
00:48:44,670 --> 00:48:47,700
you know? Or he's fake this, he's arrogant. You know, you're
787
00:48:47,700 --> 00:48:49,380
over the top. So therefore, you can't you can't be
788
00:48:49,380 --> 00:48:51,450
profitable. And you got to spend so much time trying to
789
00:48:51,450 --> 00:48:54,360
convince him prove that you're just gonna waste your time
790
00:48:54,390 --> 00:48:56,340
and it's not going to give you what you expected in terms of
791
00:48:56,610 --> 00:48:59,970
response. So don't even waste your time with it. Who cares?
792
00:49:00,000 --> 00:49:02,070
If they don't believe you're making money, because I don't
793
00:49:02,070 --> 00:49:04,590
care who's making you whoever doesn't believe that this
794
00:49:04,590 --> 00:49:07,170
stuff works, but I'm not profitable, or I don't really trade
795
00:49:07,170 --> 00:49:11,280
or I'm delivering pizzas for Domino's, and, you know, 1992
796
00:49:11,310 --> 00:49:14,940
Ford Mustang with a rusted out trunk. I don't know where
797
00:49:14,940 --> 00:49:16,950
that came from, but long and short is I don't care what
798
00:49:16,950 --> 00:49:20,640
people believe about me. I only care about the folks that
799
00:49:20,640 --> 00:49:23,730
put the time into learning what I'm teaching. And believe
800
00:49:23,730 --> 00:49:27,180
me, if you do these things, you will see your time has not
801
00:49:27,180 --> 00:49:32,580
been wasted. And it's consistency, its framework exactly
802
00:49:32,580 --> 00:49:35,580
what you're looking for. But I give it in small pieces,
803
00:49:35,880 --> 00:49:38,910
because it's required to learn that way. If I gave you all
804
00:49:38,910 --> 00:49:41,490
one presentation, this is what you do. You're not going to
805
00:49:41,490 --> 00:49:43,590
do what you're supposed to be doing because I want you to
806
00:49:43,590 --> 00:49:47,040
focus on small segments of price action and components of
807
00:49:47,040 --> 00:49:49,860
it. And you'll be quickly convinced that each individual
808
00:49:49,860 --> 00:49:53,220
component has validity it has substance behind it, and when
809
00:49:53,220 --> 00:49:56,400
you put everything together, you get Blue Ribbon results. So
810
00:49:56,400 --> 00:49:58,380
hopefully you found this insightful until next time, I wish
811
00:49:58,380 --> 00:49:59,640
you good luck and good trading.