Changes for page ICT - Sniper Course - 06 - First Aid module - Swing Projection.srt

Summary

• Page properties (1 modified, 0 added, 0 removed)

Details

Page properties

Content

...	...	@@ -1,4671 +1,296 @@
1		-1
2		-00:00:55,980 ~-~-> 00:00:58,500
3		-ICT: Okay guys, welcome to the sixth
	1	+(% class="hover min" %)
	2	+|1 |00:00:55,980 ~-~-> 00:01:07,770 |ICT: Okay guys, welcome to the sixth installment of the ICT sniper series and we're going to be looking at a few things in this topic, this is probably going
	3	+|2 |00:01:07,770 ~-~-> 00:01:18,360 |to be one of the most brief out of the series, but I promise you, we're gonna have a gangbusters the last two episodes in the series. This one's kind of
	4	+|3 |00:01:18,660 ~-~-> 00:01:29,430 |important because it really focuses on the risk aspect of trading and the element of reducing risk and controlling risk. While we essentially can't remove
	5	+|4 |00:01:29,430 ~-~-> 00:01:45,240 |entirely every aspect of the risk, we can do our best to try to control it as best we can and or mitigate the effects of risk over a period of time. In this
	6	+|5 |00:01:45,390 ~-~-> 00:01:57,720 |episode, we're going to obviously look at every view of the previous episodes assignment, projecting swing targets and we'll be looking at some examples and
	7	+|6 |00:01:57,720 ~-~-> 00:02:14,010 |projections in illustrated form, then we're going to give you an a Euro USD bullish example a Euro USD bearish example controlling risk and effective stop
	8	+|7 |00:02:14,010 ~-~-> 00:02:28,140 |loss placement. Okay, we're gonna be looking at the concept of limiting your trading to a defined risk percent of equity. What is the industry standard? What
	9	+|8 |00:02:28,140 ~-~-> 00:02:44,550 |is ideal for most speculators and when you're hot, how high is high and we'll be looking at stoploss concepts and how many pips per risk per trade. I get this a
	10	+|9 |00:02:44,550 ~-~-> 00:03:01,290 |lot in email and how to remove risk in open positions. Trailing your stop loss. And watching your six gave me looking at risk reduction versus bailout. And
	11	+|10 |00:03:01,290 ~-~-> 00:03:06,870 |we'll have another homework assignment. We're going to be studying the average number of pips intraday.
	12	+|11 |00:03:13,830 ~-~-> 00:03:26,010 |Okay, folks, real quick just give you a quick example for a bullish upside objective swing projection, this high here, down that is why you see how we have
	13	+|12 |00:03:26,370 ~-~-> 00:03:38,250 |this price swing here. Now it's comprised of smaller price swings, this is a daily chart. But the overall swing is from this high down to this low and 200
	14	+|13 |00:03:38,250 ~-~-> 00:03:48,360 |extension, which we didn't give the actual level on our fib in this series, but we did talk about the 200 being pretty much the maximum level that we like to
	15	+|14 |00:03:48,360 ~-~-> 00:04:00,810 |see, which is a basically a measured move type of price phenomenon from this high to this low. That same range is the same thing from the high up to this fib
	16	+|15 |00:04:00,810 ~-~-> 00:04:20,610 |level, you can see it pretty much nailed behind. If we break this down, we can go down into a four hour chart. Okay, and what we're going to look at here is
	17	+|16 |00:04:20,610 ~-~-> 00:04:36,090 |that market moving lower here, we have this swing up, okay, so this is going to be a fulcrum point right here. Okay, and I'm going to give you fib projection
	18	+|17 |00:04:38,940 ~-~-> 00:04:50,610 |right here and the 200 levels down here and now we did work through it a couple times. Getting a small little reaction here now but this is the overall price
	19	+|18 |00:04:50,610 ~-~-> 00:05:03,210 |swing and it broke down here is the 127 easily reached once easy to easily reach and then went down below these market Structure lows are here. Okay, so you can
	20	+|19 |00:05:03,210 ~-~-> 00:05:15,330 |see the complete fruition of the market maker sell model. Here we have the consolidation, the break out of it, the first little pause in here and rally up
	21	+|20 |00:05:16,140 ~-~-> 00:05:26,670 |to failure swing, and then subsequent optimal trade entries, which we call this in advance right here on Twitter, and slammed it down. Guy, we were calling in
	22	+|21 |00:05:26,670 ~-~-> 00:05:42,120 |advance this level here, and this level in here as well, you can find that on Twitter, again, it's all the time and date stamped. Now, you could take this
	23	+|22 |00:05:42,120 ~-~-> 00:05:56,370 |even further and go down to a 15 minute time frame. Okay, and just simply looking at the fifth of them ever, you can see that we have this swing here,
	24	+|23 |00:05:57,240 ~-~-> 00:06:11,250 |when it breaks this low here, okay, it's gonna be a fulcrum point right there. So anything moving down in price will most likely be a fib level for downside
	25	+|24 |00:06:11,250 ~-~-> 00:06:11,880 |objectives.
	26	+|25 |00:06:19,050 ~-~-> 00:06:37,050 |Okay, here's the 127 extension, from this low to high is 127 and 162. And then 200 extension here. And as a result prices up here. Okay. You can see, take
	27	+|26 |00:06:37,050 ~-~-> 00:06:50,730 |these Li fibs off, starting to blend. While price is moving lower, you can see this rally up wants to take the low that we're anchoring the fed from out. Okay,
	28	+|27 |00:06:50,850 ~-~-> 00:07:00,660 |this being the fulcrum point, you have your 127, your 162 and just fell short of the 200 extension here. And again, that's the reason why I don't really marry
	29	+|28 |00:07:01,140 ~-~-> 00:07:12,030 |the idea that the 200 is always going to get hit, I really liked the 162. I like going 127 obviously, but we'll break it down further in the next video as to the
	30	+|29 |00:07:12,030 ~-~-> 00:07:25,110 |other targets and other means of looking for additional targets and multiple targeting. And that'll be in Part Seven. And I know we've been dealing or at
	31	+|30 |00:07:25,110 ~-~-> 00:07:36,240 |least attempting to move exclusively with the Euro USD pair for this teaching series. But just for the sake of argument, let's take a look at two other pairs
	32	+|31 |00:07:36,240 ~-~-> 00:07:58,350 |we'll look at the Canadian dollar Okay, here's the Canadian dollar and let's go down to a hourly chart. Okay, and let's zoom out a little bit. right we have the
	33	+|32 |00:07:58,350 ~-~-> 00:08:09,780 |market trading lower into a level of support, which I'm not going to outline here, but if you got to our timeframes, you can find the waterblock where this
	34	+|33 |00:08:09,780 ~-~-> 00:08:23,790 |reacted to. But if you use this high here, market structure shifts right there. So this becomes a fulcrum point right there. trades out canes button comes right
	35	+|34 |00:08:23,790 ~-~-> 00:08:35,250 |back down find support that same level of you pull from that point down to the lowest low. Okay, you have your 127 easily reached 162 easily reached and then
	36	+|35 |00:08:35,250 ~-~-> 00:08:44,430 |200 very easily reached, okay. If you take your fib level,
	37	+|36 |00:08:49,680 ~-~-> 00:08:59,610 |here's the 50% level or fulcrum or equilibrium. Okay, and you see the 100 level here, which is basically what you're getting with a 200% fail level. Okay, but
	38	+|37 |00:08:59,610 ~-~-> 00:09:09,810 |I'm trying to teach you everything is based on like a 50% basis. Okay, there's like a 50% rule. If it moves down this many pips once it breaks that high issue,
	39	+|38 |00:09:09,810 ~-~-> 00:09:20,010 |at least try to move that same number of pips up, okay. And when it does that, we have what is referred to as market symmetry and trading patterns and setups
	40	+|39 |00:09:20,040 ~-~-> 00:09:31,890 |become very, very clean and very high probability when that occurs. Okay, since we taken up this low, I'm sorry, this high rather here. Okay, one could do this
	41	+|40 |00:09:32,460 ~-~-> 00:09:49,410 |one, high down this low. You have 127 up here, and you want to go up here, which incidentally is an old high back here, zoom out. See that is the case and we're
	42	+|41 |00:09:49,410 ~-~-> 00:10:00,630 |here. Again, it's assuming we do have traction and continue to move higher. The next pair we're gonna look at is the British Pound USD and Here you guys are
	43	+|42 |00:10:00,630 ~-~-> 00:10:16,560 |nice order block and reaction. This is put on the charts in advance and you can see the reaction of price afterwards. But we're going to look at taking this fit
	44	+|43 |00:10:16,560 ~-~-> 00:10:35,580 |off. And we'll take the rectangle off because zoom out a little bit. Okay, now we have the same scenario here, we have price moving down, nice price leg here,
	45	+|44 |00:10:36,270 ~-~-> 00:10:46,050 |comes in and rejects this low. Okay, there's several of them in here that you can use. Obviously, we'll use this one here, this swing, when this high here,
	46	+|45 |00:10:46,050 ~-~-> 00:10:59,160 |rancor and it's broke to the upside, you'll see the Fibonacci levels come into play. Here's the 127 easily reached 162 and then 200 extension here. Okay, going
	47	+|46 |00:10:59,160 ~-~-> 00:11:14,280 |back to this higher market structure high here, using that same reference low. This is how you trade within a markets structure. So once this heist violated
	48	+|47 |00:11:14,490 ~-~-> 00:11:28,140 |right here, we would be looking for upside objectives. 127 easily reached 162 easily reached 200 level easily reached. Okay. Let's go out to an hourly chart,
	49	+|48 |00:11:28,380 ~-~-> 00:11:36,450 |same pair. Okay, let's scroll up. And now
	50	+|49 |00:11:43,169 ~-~-> 00:12:00,299 |I can get this fib. Okay, we'll use this high here. And price just reached the 127 extension here. And the upside would be 162. And if you use this high here,
	51	+|50 |00:12:00,779 ~-~-> 00:12:10,049 |all we're doing is moving on to the next excessive market high. So each one of these is a price when you have a high down that low. You have a high down there
	52	+|51 |00:12:10,049 ~-~-> 00:12:28,289 |that same oil. Okay, these are all reference points for reactions. Okay, yeah. 1.7. Now here. And yeah, this one here is a lot of liquidity sitting right above
	53	+|52 |00:12:28,289 ~-~-> 00:12:38,099 |that these are all hourly candles, unable to make a higher high in here. And we're about to blow that out right now while I'm recording. And then the 127
	54	+|53 |00:12:38,129 ~-~-> 00:12:55,679 |resides up there. Now, with these levels in mind, okay. We're going to highlight that 162 to 127.
	55	+|54 |00:13:03,390 ~-~-> 00:13:17,310 |Now, what I'm gonna do is I'm gonna reference this larger price ceiling. Because remember, markets are fractal, okay? And the high down to lowest low. You see
	56	+|55 |00:13:17,310 ~-~-> 00:13:27,420 |what resides over here. Here's the 62% sweet spot in sunlights chase model, there's a high probability to cable or reach up to these levels in here.
	57	+|56 |00:13:32,640 ~-~-> 00:13:51,780 |Okay, and Nick is no debt right in there. Okay, and that would be a good area to have some scenarios. We have one more block in here. That can be a factor if we
	58	+|57 |00:13:52,110 ~-~-> 00:14:06,780 |get through this area in here. Because this is a nice support level. Never been retested. So we may come out at 62% retracement on that 161 25 level 161 30. So
	59	+|58 |00:14:06,780 ~-~-> 00:14:19,860 |we could tap into that. But I'm blending a couple things here but the Fibonacci price projections but you got to you got to do a few examples. Here you can see
	60	+|59 |00:14:19,860 ~-~-> 00:14:33,120 |how useful they are and from the time we did our recording the last time let's just give a sell scenario. We have this price rally up. When this low is
	61	+|60 |00:14:33,120 ~-~-> 00:14:45,450 |violated as it is here. This low becomes a fulcrum point in any price action. From that point. From that low appear once it's finally lower. Here's the 127
	62	+|61 |00:14:45,450 ~-~-> 00:15:03,390 |easily met 162 easily met 200% extension easily met. Okay. And you could probably see KYC do that while I'm recording This kind of tend to relate to keep
	63	+|62 |00:15:03,390 ~-~-> 00:15:15,720 |it on this sheet when it does, but anyway, you just watch it on your charts in retrospect, but you can see obviously, the fibs, when you have it in the right
	64	+|63 |00:15:15,750 ~-~-> 00:15:26,730 |direction. They're very strong in terms of looking for high level, upside and downside objectives. We have this low made here from this high. I'll just give
	65	+|64 |00:15:26,730 ~-~-> 00:15:39,270 |you a bullish scenario on the cable. I'm dragging and as you can see the levels and reactions to the highs here is high down to that low 127. Easily met 162
	66	+|65 |00:15:39,270 ~-~-> 00:15:49,320 |easily met 200 extension bang swept through just a few times in here. Again, this is why we do not try to get all that we don't care that it does this, okay.
	67	+|66 |00:15:49,950 ~-~-> 00:16:02,340 |If one is able to just get a piece a you got it in here being up to 160 to 210 pips, nothing wrong with that and who cares about the remaining portion? Okay?
	68	+|67 |00:16:03,870 ~-~-> 00:16:09,000 |Let the Cubs eat. Alright, so I hope that's been insightful to you guys.
	69	+|68 |00:16:16,080 ~-~-> 00:16:28,140 |Okay, guys, we're going to be looking at how stop loss playing placement is utilize in your trading, we're gonna be looking at how risk percentage is an
	70	+|69 |00:16:28,170 ~-~-> 00:16:36,600 |important factor here trading. But before we get into all that, we're gonna be looking at how, obviously looking at a bullish scenario here, everything we
	71	+|70 |00:16:36,600 ~-~-> 00:16:46,290 |talked about in this example, can be flipped 180 degrees, okay, and you'll see the opposite for selling scenarios. Okay, so every row you see here, just
	72	+|71 |00:16:46,290 ~-~-> 00:16:57,210 |reverse it. And you'll get the understanding for selling short in the market and in how to control your stops. And in such, okay, we're going to assume that we
	73	+|72 |00:16:57,210 ~-~-> 00:17:06,330 |have a key level and or institutional order block identified on our charts. And again, we're gonna be looking at a daily chart for this example. And the market
	74	+|73 |00:17:06,330 ~-~-> 00:17:20,820 |has been showing in this crude example, in hypothetical terms, that price would be more or less trading down to our line here of anticipation. And as price
	75	+|74 |00:17:20,820 ~-~-> 00:17:31,590 |starts to move aggressively down to that level, we will be hopefully, if we're not in front of our charts, we would have our platform for trading alert us to
	76	+|75 |00:17:31,740 ~-~-> 00:17:42,150 |the fact that price is getting to our specific higher timeframe price level, as price trades to that level. Again, because we are flexible, we are not limiting
	77	+|76 |00:17:42,150 ~-~-> 00:17:51,840 |our perspective is simply to one line, therefore it has to stop on that line turn on a dime. Okay, there is a gray area in trading that we I identified
	78	+|77 |00:17:51,840 ~-~-> 00:18:02,340 |earlier in the series. And we've come to hopefully by now, terms with the fact that we can't get perfection in the marketplace in terms of turning points,
	79	+|78 |00:18:02,370 ~-~-> 00:18:12,660 |okay, we have rough ideas, where price should turn, but even the highest level key levels, and support levels and institutional order blocks have a little bit
	80	+|79 |00:18:12,660 ~-~-> 00:18:23,340 |of gray areas where it could deviate a little bit. But more specifically, we're gonna be highlighting, obviously, all of our trades around key levels around
	81	+|80 |00:18:23,340 ~-~-> 00:18:33,690 |numbers, institutional levels, and a confluence of support and resistance factors with time of day. Okay, so you haven't time and price theory combined.
	82	+|81 |00:18:34,740 ~-~-> 00:18:45,900 |So as price goes down into this level, that's when we are on the prowl for a buy scenario, okay, we're trying to buy during that event, we don't want to be
	83	+|82 |00:18:45,900 ~-~-> 00:18:53,790 |buying after the move has already turned around, and everybody sees that it's a swing low, it's moved for three or four days, we want to be buying in a
	84	+|83 |00:18:53,790 ~-~-> 00:19:02,100 |suppressed market environment, we want to be looking at bargain prices, okay? And we don't want to be buying at retail prices, we want to be buying wholesale.
	85	+|84 |00:19:02,280 ~-~-> 00:19:14,160 |Okay, so assuming that we use information that we talked about earlier in this series, in terms of framing a reactionary level to a trade, we're going to
	86	+|85 |00:19:14,160 ~-~-> 00:19:22,650 |assume that we anticipated at that key level, the market had turned Okay, and maybe retested and gave us an optimal trade entry on a lower timeframe. Now,
	87	+|86 |00:19:22,650 ~-~-> 00:19:32,970 |we're going to assume for this example, that we were fortunate enough to catch a long position at that key level, okay. And it's not important that we have a
	88	+|87 |00:19:33,480 ~-~-> 00:19:44,220 |specific price level in this example. Because really, what we're going to be looking at is how traders are always in my experience, okay, even when I was an
	89	+|88 |00:19:44,220 ~-~-> 00:19:53,610 |early developing trader, I felt the need to want to exit the trade immediately. As soon as I saw some gains, I had, you know, this overwhelming feeling that I
	90	+|89 |00:19:53,610 ~-~-> 00:20:02,640 |had to hurry up and get out and close the trade. If I was of several $100 I would think wow, this is good. You know, I've taken losses in a series of
	91	+|90 |00:20:02,640 ~-~-> 00:20:14,850 |losses, this feels good. And I just would rather not leave the market with another loss after seeing these gains when you have a sound entry, many times,
	92	+|91 |00:20:14,850 ~-~-> 00:20:26,640 |those are the scariest trades to hold on to, okay? Because the good trades don't spend their time very long at wholesale prices, they immediately start to move
	93	+|92 |00:20:26,640 ~-~-> 00:20:37,290 |to retail level pricing, okay. In other words, if you're able to catch a very low price point, and you're long in the marketplace, you anticipate as a
	94	+|93 |00:20:37,290 ~-~-> 00:20:47,280 |professional trader prices moving rather aggressively away from that level. Okay. And that's what we talked about earlier in our series that the more
	95	+|94 |00:20:47,970 ~-~-> 00:20:58,260 |conviction that we see behind price moving away from from a specific level that we hopefully pre determined in advance, that is what we would anticipate seeing
	96	+|95 |00:20:58,290 ~-~-> 00:21:07,440 |in our trades, once we've entered it, we don't want to see the market dragging its heels and, and lethargically moving around, because we're gonna be
	97	+|96 |00:21:07,440 ~-~-> 00:21:09,900 |mentioning time stops in this
	98	+|97 |00:21:10,260 ~-~-> 00:21:17,550 |in this episode, too. I'm not going to beat it to death. But I do use a time stop, and I'll explain that as we get to that point. But as the market starts to
	99	+|98 |00:21:17,550 ~-~-> 00:21:27,420 |move in our favor, okay, we will be reaching for our predetermined price points, like we discussed in part five of the series, where we looked at the fib to give
	100	+|99 |00:21:27,420 ~-~-> 00:21:37,860 |the 127 162 extensions as possible upside objectives. Now, again, those with the confines of supporting factors with support resistance, maybe even pivot points,
	101	+|100 |00:21:38,820 ~-~-> 00:21:48,120 |something like an old high or low to to frame those upper level objectives, not simply because the fib calls that level, we want to be looking for other things
	102	+|101 |00:21:48,120 ~-~-> 00:21:58,590 |as well, again, factoring the time and day of week phenomenon as well. Now, again, getting back to this crude example, as we have here, when the market is
	103	+|102 |00:21:58,590 ~-~-> 00:22:12,300 |now moving away from your entry point. Okay, one of the closest things to insanity is when you have this environment, unfolding for you, profitably, okay.
	104	+|103 |00:22:13,350 ~-~-> 00:22:28,620 |It's amazing how traders and I know this firsthand. Okay, when I first began trading, I would hold a losing trade for ever and for forever. And forever. I'm
	105	+|104 |00:22:28,620 ~-~-> 00:22:37,950 |sure you probably felt that same thing to your trading, because you really want to see a turnaround. Yeah, hope springs eternal. Not in forex, not in
	106	+|105 |00:22:37,950 ~-~-> 00:22:45,960 |speculation, and certainly not in trading. Okay. So the market doesn't have to go back to your price point. Okay, if you look at the Dow, just look at anything
	107	+|106 |00:22:45,960 ~-~-> 00:22:56,040 |from seven months ago. It's been a while since In fact, there's levels. Okay. So if you've been waiting for the market to get back to those levels, man, you're
	108	+|107 |00:22:56,040 ~-~-> 00:23:07,200 |gonna grind these pieces. Okay. So don't do that have a predetermined area where you would expect to cut your losses short. Okay. What is the industry standard
	109	+|108 |00:23:07,200 ~-~-> 00:23:21,120 |for risk? Okay, you commonly hear and I hear myself say it all the time, these videos, because I want to more or less segue into the majority of everyone's
	110	+|109 |00:23:21,120 ~-~-> 00:23:30,420 |expectations and analysis. But really what I try to do is say, Okay, look, everybody says 2% of your equity portrayed. Okay. And if you're really, really
	111	+|110 |00:23:30,420 ~-~-> 00:23:41,970 |solid trader, there's nothing wrong with that. Okay. Now, I suggest that traders should work within the realm of 1% of their equity portrayed. The reason for
	112	+|111 |00:23:41,970 ~-~-> 00:23:54,420 |that is assuming that you had a $10,000 trading account, and you were risking 1%, how much money would be at risk per trade $100 against the standard 2%,
	113	+|112 |00:23:54,450 ~-~-> 00:24:05,970 |which would be 200 hours per trade total risk. And the way you determine your PIP size is you take that $200, if it's 2%, or 1%, at $100, total risk of
	114	+|113 |00:24:06,360 ~-~-> 00:24:21,030 |assuming that you have a $10,000 trading account. If it's a $1,000 trading account, then it would be a $10 for 1% or $20, for 2%, total equity risk per
	115	+|114 |00:24:21,030 ~-~-> 00:24:31,080 |trade, whatever that dollar amount is percentage wise, whether it be 1% or 2%. Ideally, 1% or less. I came in, I knew that probably sounds like weed and I
	116	+|115 |00:24:31,080 ~-~-> 00:24:36,690 |can't make a lot of money with that. That's right, because if you're just starting out, you need to forget about making a whole lot of money because you
	117	+|116 |00:24:36,690 ~-~-> 00:24:46,320 |got a whole lot of learning to do. So assuming that you did have a $10,000 account. Okay, and you've worked with smaller accounts, you've proven to
	118	+|117 |00:24:46,320 ~-~-> 00:24:56,280 |yourself that you could be disciplined. You have a track record of being consistent. You control your risk, you limit your losses, you let your profits
	119	+|118 |00:24:56,280 ~-~-> 00:25:11,160 |run and your target started getting hit on more consistent basis, you have a risk of 100 hours per trade, which is 1% of $10,000. You take that $100 and you
	120	+|119 |00:25:11,160 ~-~-> 00:25:24,150 |divide that by the total pips. Okay needed to justify your trade. Okay, and, but the assumption that this is a daily chart here, it could be very easily in the
	121	+|120 |00:25:24,150 ~-~-> 00:25:28,890 |realm of 100 pips or more, okay, which would put you at very, very low
	122	+|121 |00:25:30,240 ~-~-> 00:25:38,040 |leverage for the trading, which really in a way isn't that bad. But I know a lot of you folks watching this really want to have a little bit more bang for your
	123	+|122 |00:25:38,040 ~-~-> 00:25:49,590 |buck. So using the concepts we used in the earlier videos, if you move down to a lower timeframe, you can reduce your you do reduce your risk to less than 50
	124	+|123 |00:25:49,590 ~-~-> 00:26:00,450 |pips anywhere between 3040 is about ideal, I, in my opinion, because it allows the developing trader to have a little bit of a fudge factor, where they're not
	125	+|124 |00:26:00,450 ~-~-> 00:26:11,400 |expected to be so precise with their stops, okay, and gives you a little bit of flexibility, because I know, inherently that traders will rush to entry, or they
	126	+|125 |00:26:11,400 ~-~-> 00:26:18,540 |will look for confirmation in their eyes, quote, unquote, confirmation by letting the trade start to move a little bit in their favor and then chase it
	127	+|126 |00:26:18,540 ~-~-> 00:26:32,670 |but very close to their entry price, but still within the risk parameters as permitted by their method or this concept. So if you had that in mind, okay, you
	128	+|127 |00:26:32,670 ~-~-> 00:26:51,600 |could have basically $3.30, roughly, per Pip, if you trading a $10,000 account, with 1% risk using a 30. Pip stop, okay? The reason why the industry standard is
	129	+|128 |00:26:51,600 ~-~-> 00:27:02,130 |2%, sometimes you hear in certain circles, you could risk more than 2%. Okay, because that's what the real traders and the real professionals are doing, I can
	130	+|129 |00:27:02,130 ~-~-> 00:27:11,100 |tell you, the real professional traders aren't doing that, okay, they're not risking a whole lot of their money. For disclosure sake, I do risk as much as
	131	+|130 |00:27:11,100 ~-~-> 00:27:21,240 |much as three and a half percent, that means I'm trading with the higher timeframe, weekly, daily, and four hour all in the same direction, everything's
	132	+|131 |00:27:21,240 ~-~-> 00:27:36,270 |lined up with those three timeframes. And I have a weekly bias that's in the same direction. And that will allow me based on my abilities and experience
	133	+|132 |00:27:36,270 ~-~-> 00:27:47,310 |trading, I will risk up to, and it's not a whole lot that it happens, but up to three and a half percent of my equity for one trade. Typically, it'll be
	134	+|133 |00:27:47,310 ~-~-> 00:27:57,660 |anywhere between one and one and a half percent. Because the timeframes aren't always lined up like that, you'll have a counter trend move going against one of
	135	+|134 |00:27:57,660 ~-~-> 00:28:09,600 |the primary higher time frame time zone, not time zones per timeframe, you know, weekly, daily, and four hour. So if I'm trading against that on a lower
	136	+|135 |00:28:09,600 ~-~-> 00:28:24,000 |timeframe, obviously, one, one and a half percent is a maximum. For sure. If I'm trading with a daily and for our in the same direction, I can be as much as 2%.
	137	+|136 |00:28:24,690 ~-~-> 00:28:38,130 |risk. Now, how high is high? Okay, I think if anybody's risking more than, you know, obviously 3% unless you're really really proficient, you really know what
	138	+|137 |00:28:38,130 ~-~-> 00:28:47,880 |you're doing. And you know how to turn your equity losing string around. Because it's not just one trade that you lose on guys, sometimes you get a couple of
	139	+|138 |00:28:47,880 ~-~-> 00:28:58,320 |them in a row. And even the best traders out there will suffer that and have suffered that regardless of what they tell you. So assuming that's the case for
	140	+|139 |00:28:58,320 ~-~-> 00:29:07,590 |you, and you're human like everyone else, you have to have an idea of how to control that. And the best way to do it is reducing your overall exposure as you
	141	+|140 |00:29:07,590 ~-~-> 00:29:17,310 |take losses. Okay. And I'll give you an example. Let's assume for a minute you settled in on the idea of taking 2% portrayed. If you go loss, you've lost 2% of
	142	+|141 |00:29:17,310 ~-~-> 00:29:25,590 |equity. Okay, now, if you dress 2% of the next trade again, thinking that well if I make the same amount of money I lost on my previous trade, I'll get back to
	143	+|142 |00:29:25,590 ~-~-> 00:29:40,680 |even that's where the cycle begins. Okay. You want to get back to that previous equity level that milestone that marker, okay, that comfort zone, internally as
	144	+|143 |00:29:40,680 ~-~-> 00:29:51,870 |a trader, and that's not a good game to play. Okay. And what happens is, is you're actually inviting more emotional response and triggers into your trading
	145	+|144 |00:29:51,930 ~-~-> 00:30:04,410 |than you should have. Okay? And, by systematically methodically reducing your risk in half Okay, for instance, if you took a loss at 2%, you only risk 1% of
	146	+|145 |00:30:04,410 ~-~-> 00:30:13,770 |next trade, it may take you two or three trades to get back to that previous mile marker. But guess what it's doing is removing the rush factor to get back
	147	+|146 |00:30:13,770 ~-~-> 00:30:24,060 |to that point. And it's honing your patience with the added benefit of lowering your overall exposure exposure to the marketplace. Now think about you're in a
	148	+|147 |00:30:24,360 ~-~-> 00:30:25,230 |losing
	149	+|148 |00:30:27,690 ~-~-> 00:30:36,960 |environment where you've had suffered a loss for a developing trader, that is very, very hard to swallow, regardless if it's a demo account or not, because
	150	+|149 |00:30:37,290 ~-~-> 00:30:45,450 |you are still working within the realm of psychological and emotional barriers that you just simply don't understand until you've traded through it, or you've
	151	+|150 |00:30:45,450 ~-~-> 00:30:54,090 |experienced it and said, This isn't for me, and you leave the market altogether. And there's nothing wrong with that, because trading is not for everyone. And it
	152	+|151 |00:30:54,090 ~-~-> 00:31:04,950 |would be irresponsible of me as a mentor, to not at least suggest that to some of you. Because if you can't wrap your mind around doing this, and assuming some
	153	+|152 |00:31:04,950 ~-~-> 00:31:18,060 |level of risk, this is absolutely not your cup of tea, okay. And that's one thing you can guarantee coming from me as the gospel. Not everyone and on the
	154	+|153 |00:31:18,060 ~-~-> 00:31:29,970 |planet is meant to do this. And it takes a certain level of commitment and tenacity to stick within a realm of rules. And humans are typically very good
	155	+|154 |00:31:29,970 ~-~-> 00:31:37,230 |rule breakers, we don't like to, you know, follow the rules. And just think about if you walk down the street in a well groomed neighborhood, and you see a
	156	+|155 |00:31:37,230 ~-~-> 00:31:45,660 |sign says don't step on the grass, what's the first thing you want to do? Step on the grass. Just look at a kid, that's what they're gonna do. You know, I made
	157	+|156 |00:31:46,410 ~-~-> 00:31:55,140 |so many jokes as my children were growing up, that they were like heat seeking missiles, okay, we we get new carpet in the home, and my wife or a guest would
	158	+|157 |00:31:55,140 ~-~-> 00:32:03,870 |come over and need invariably have their, their drink with them. And in our new dining area, we're not losing room or family room, and our children would come
	159	+|158 |00:32:03,870 ~-~-> 00:32:14,400 |in and being kids, they would roughhouse, you know, just for a second. And they won't fall away from the tables or fall away from the person, the only person in
	160	+|159 |00:32:14,400 ~-~-> 00:32:22,770 |the room with the drink, they fall and land, either on the drink, or indeed a person drops and goes all over the the white carpet or at the time, you know, we
	161	+|160 |00:32:22,770 ~-~-> 00:32:33,420 |have a very light colored tan carpet and the drink, you cause you havoc on it, we got to get it cleaned. So those things are going to happen. So you had to
	162	+|161 |00:32:33,420 ~-~-> 00:32:44,250 |prepare for it. So you're going to have that in your trading with wanting to do something you shouldn't do. And you're going to have that Murphy's Law scenario
	163	+|162 |00:32:44,250 ~-~-> 00:32:52,770 |as well, what can go wrong, probably will go wrong, okay, so you have to have that, that shield up in your defense. And that's only going to come in the form
	164	+|163 |00:32:52,800 ~-~-> 00:33:01,770 |of you controlling your equity. Okay, and if you take a loss, don't be afraid to cut your risk on the next trade. And if you had to do that, and continuously
	165	+|164 |00:33:01,770 ~-~-> 00:33:12,660 |down to a half percent total risk of your equity, that's fine. There's nothing wrong with that. Okay? Remove from your mind, right now that you want to make
	166	+|165 |00:33:12,660 ~-~-> 00:33:21,840 |millions of dollars right now. Okay, because that is the wrong perspective going in. There's nothing wrong with having goals or doing that. But initially, you
	167	+|166 |00:33:21,840 ~-~-> 00:33:30,330 |have to take the bite first, okay, and chew the elephant, one bite at a time, you just can't go in and try to swallow it all at once because you'll choke. So
	168	+|167 |00:33:31,380 ~-~-> 00:33:43,920 |with that in mind, okay, once these moves start to move in your favor, okay, you obviously want to be able to remove the risk, okay. And at least during the
	169	+|168 |00:33:43,920 ~-~-> 00:33:53,490 |move, new trading in your favor, you want to be removing a little bit of the risk, methodically until you get to the point where you have zero risk or, quote
	170	+|169 |00:33:53,490 ~-~-> 00:34:00,900 |unquote, no risk exposure, okay, obviously, anything that happened in marketplace, you know, something can happen new markets could gap because of,
	171	+|170 |00:34:01,080 ~-~-> 00:34:09,720 |you know, terrorist event or something unexpected in the in the Fed or whatever. And there'll be a massive movement and your your stop loss experiences, and
	172	+|171 |00:34:09,720 ~-~-> 00:34:18,000 |slippage. These are all things we understood when we signed up for this game. So bottom line is, is it can happen, prepare yourself for it, because you're going
	173	+|172 |00:34:18,000 ~-~-> 00:34:25,080 |to take losses, and if you trade of any length of time, you're gonna have a lot of losses, okay? And there's certainly nothing wrong with it. It's a cost of
	174	+|173 |00:34:25,080 ~-~-> 00:34:35,280 |doing business. Every successful business out there takes a loss of some sort, but you don't see those businesses collectively going out of business. Okay,
	175	+|174 |00:34:35,280 ~-~-> 00:34:44,700 |they, they, they trim, they put things up for sale, just to get rid of inventories ain't moving real fast, and they bring in you the better movers,
	176	+|175 |00:34:44,730 ~-~-> 00:34:53,220 |okay. And that's what you do for your trading. If your trades aren't really panning out, yeah. Cut the losses short, okay, or the meals that aren't really
	177	+|176 |00:34:53,220 ~-~-> 00:35:03,660 |moving. You just get rid of them. And then you keep your powder dry waiting for the next setup. If you do that Okay, if you do that, I think you'll see a more
	178	+|177 |00:35:03,660 ~-~-> 00:35:14,730 |streamlined increase in your equity. And I think you'll remove a lot of that whipsaw, you possibly have been seen in your equity curve on your beginning
	179	+|178 |00:35:14,730 ~-~-> 00:35:15,870 |balance and where you're at now.
	180	+|179 |00:35:18,210 ~-~-> 00:35:29,250 |time stops, okay, I have a premise that if the move doesn't start, if I'm, if I'm trading off of a daily timeframe, and it really doesn't start to move in my
	181	+|180 |00:35:29,250 ~-~-> 00:35:40,710 |favor after three days, okay, I'm aggressively either removing the risk if possible, or I'm taking half the position off, okay, and I'm watching my six.
	182	+|181 |00:35:41,340 ~-~-> 00:35:49,230 |The military has an expression that, you know, wherever you're pointing your rifle, okay, or a firearm in front of you, that's 12 o'clock, your six is behind
	183	+|182 |00:35:49,230 ~-~-> 00:35:59,670 |you, okay? Or watch your ass. Okay, what you're looking at in the marketplace, when you see a trade, it isn't moving in your favor, right away. And I think
	184	+|183 |00:35:59,670 ~-~-> 00:36:07,740 |three days is enough time. If it's still consolidating, or still him hauling around not really moving, I'm looking to either take half the position off and
	185	+|184 |00:36:07,740 ~-~-> 00:36:18,600 |move my main position to either breakeven or aggressively take it to half the initial risk, or even a quarter of the initial risk. Okay, so I may like the
	186	+|185 |00:36:18,600 ~-~-> 00:36:27,360 |overall setup that still might be there, but it could be iffy, you just watch your six, take your position and cut it in half, remove aggressively half the
	187	+|186 |00:36:27,360 ~-~-> 00:36:38,970 |initial risk, if possible, or at least reduce it down to a quarter of the initial risk on the remaining half positions you leave on. Or simply bail out.
	188	+|187 |00:36:39,360 ~-~-> 00:36:48,630 |Just collapse the trade. Okay, and if you're underwater just by a few pips, so what, you know, if you're risking 30, and you're down 19. And you just see that
	189	+|188 |00:36:48,630 ~-~-> 00:36:59,700 |it's really not moving. And you go on until Friday, perhaps as the worst scenario for me, I will collapse it and just take whatever that is, as a modest
	190	+|189 |00:36:59,700 ~-~-> 00:37:09,810 |loss. You know, you didn't get stopped out, No, you didn't get in your targets, but you're getting rent getting rid of the dog, or you getting rid of the slow
	191	+|190 |00:37:09,810 ~-~-> 00:37:18,510 |moving inventory and you want to get another hopefully more opportune set up with your equity behind it. So that way, you can recoup that. And if you do
	192	+|191 |00:37:18,510 ~-~-> 00:37:30,930 |that, you systematically refine it, all those little tiny scratches immediately get smoothed out quickly with your move in my equity into a better more sound
	193	+|192 |00:37:30,960 ~-~-> 00:37:40,620 |setup. So timestamps is something that you to me, I think it's beneficial. It's a little bit of an art to it. But I break it down like this, if it's going to be
	194	+|193 |00:37:40,740 ~-~-> 00:37:51,660 |a trade, it's based off with daily setup, I gave it about three days. And if I'm trading off of a four hour, I'm really giving in about one day. And one hour
	195	+|194 |00:37:51,660 ~-~-> 00:38:01,260 |chart is I'm giving it two sessions tops, okay. Ideally, either the London or New York session, if it hasn't moved by, then you know, it's on an hourly basis.
	196	+|195 |00:38:01,560 ~-~-> 00:38:11,850 |I'm really looking to reduce the risk and or collapse it. And anything less than that, I really don't have a timestamp for on outside of the intraday timeframes
	197	+|196 |00:38:11,850 ~-~-> 00:38:22,620 |of London, to London, close London open to London close rather. So assuming, obviously, that we have our scenario that unfolded here, hypothetically, and we
	198	+|197 |00:38:22,680 ~-~-> 00:38:34,440 |suggesting a we bought long in this market, whatever that market may be, we'll say this is the euro. And the market starts to move in our favor. So we have
	199	+|198 |00:38:34,440 ~-~-> 00:38:48,150 |some some paper profits right now. Our stops are still at an initial 30% I'm sorry, 30 pips. And we have not yet made our first profit objective. So what do
	200	+|199 |00:38:48,150 ~-~-> 00:38:58,170 |we do? Well, you want to be systematically reducing your risk. If you started with a 30 PIP stop, move it down to only 20 pips. And as the market moves and
	201	+|200 |00:38:58,170 ~-~-> 00:39:08,880 |takes out your first target, take your stop loss and move it to only 10% risk. Okay? And as it moves and starts approaching your second target, that's when you
	202	+|201 |00:39:08,880 ~-~-> 00:39:20,640 |go to breakeven, okay? You do not rush your stop trailing. Okay, this is one of the biggest mistakes traders make. Because of the natural volatility in the
	203	+|202 |00:39:20,640 ~-~-> 00:39:32,400 |Forex market. It's so easy for just common volatility. Nothing behind it new market makers sneaking to get you. It's normal volatility. Okay,
	204	+|203 |00:39:32,430 ~-~-> 00:39:41,910 |illiquid volatility. Okay, we're marked on down. Phil Phil's market inefficiencies and they take the market down to a specific level to gather up
	205	+|204 |00:39:41,910 ~-~-> 00:39:50,910 |any orders and and go the other way. Okay, we're not talking about stop ragers looking for common little intraday. retracements. Okay. If you rapidly move your
	206	+|205 |00:39:50,910 ~-~-> 00:40:02,520 |stop loss up behind market pricing, you're asking to get taken avatrade before it comes to fruition. Okay. Once you have this setup, what you're doing is
	207	+|206 |00:40:02,520 ~-~-> 00:40:13,230 |you're anticipating the market to start to move in your favor. But this is a gray area because you don't know for sure it's going to do that. Okay? Yes, the
	208	+|207 |00:40:13,230 ~-~-> 00:40:21,810 |market could potentially can continue to move in your favor. Or it could turn around and stop you out. Or could stay in this small little consolidation area
	209	+|208 |00:40:22,230 ~-~-> 00:40:31,170 |for days and make no money for you but a small profit, but you'll hold on to it thinking it's going to go to the moon, I know you because everybody's the same
	210	+|209 |00:40:31,170 ~-~-> 00:40:39,900 |way when they're developing. We all think the markets are gonna go like a rocket either up or crash down. Okay, to the ground, like a, you know, a meteor just
	211	+|210 |00:40:39,900 ~-~-> 00:40:48,720 |plummeting to the earth. It's, they don't move in straight lines, guys. Okay, so while we would anticipate, okay, higher prices, and we expect that hopefully,
	212	+|211 |00:40:48,840 ~-~-> 00:40:57,840 |okay, hopefully, that we see that, again, keeping in mind, that's a gray area, we're expecting those price levels to be reached on the upper side, but they're
	213	+|212 |00:40:57,840 ~-~-> 00:41:11,940 |not promised. Okay. So inside of that, that, that gray area of anticipation, we have an expected outcome in price action, but we can effectively manage our
	214	+|213 |00:41:11,940 ~-~-> 00:41:24,120 |stops within that move. Okay, and there's a way that I do it. But once you have your setup, the way I manage my stop losses, is I use a 15 minute timeframe.
	215	+|214 |00:41:24,510 ~-~-> 00:41:35,490 |Okay. And the 15 minute because this setup in this whole series have been really developed on finding one solid weekly set up where you can take a really good
	216	+|215 |00:41:35,490 ~-~-> 00:41:46,680 |setup for a weekly opportunity to make a consistent realm of pips anywhere between 30 to 60. pips i think is an ideal scenario for someone to try to carve
	217	+|216 |00:41:46,680 ~-~-> 00:41:56,310 |out a consistent living. And if you are consistently doing that, there's certainly no reason why you can't take a very handsome living out of this, this
	218	+|217 |00:41:56,310 ~-~-> 00:42:09,090 |marketplace and not trade a whole lot of pairs either. So why don't use the 15 minute time frame? Well, there is very clear, discernible dealing ranges and
	219	+|218 |00:42:09,090 ~-~-> 00:42:20,610 |support resistance levels, okay, that are clearly discernible on that timeframe, and allows you to look at a whole weekly perspective, perspective, from Sunday
	220	+|219 |00:42:20,610 ~-~-> 00:42:31,650 |to Friday's close. Perfect example, to pick any pair of your chosen, load up a 15 minute chart, condense your chart, so it shows Sunday to Friday's close. And
	221	+|220 |00:42:31,650 ~-~-> 00:42:43,140 |you'll see how that timeframe gives you all of this session highs and lows and even gives you a very clear snapshot of all of the volatility for those
	222	+|221 |00:42:43,140 ~-~-> 00:42:51,480 |particular sessions. London, New York, Asia and you can actually see where the range highs and lows are very clearly and then you can see the small little
	223	+|222 |00:42:51,480 ~-~-> 00:43:03,180 |quiet points in the marketplace in between those sessions. Also, the notion of find the weekly high by Tuesday are no later than Wednesday is London open
	224	+|223 |00:43:03,930 ~-~-> 00:43:13,110 |having that in mind Okay, expecting a specific outcome based on hard timeframe directional premise, but that assumption here being bullish, we'll be looking
	225	+|224 |00:43:13,110 ~-~-> 00:43:23,130 |for the monday tuesday or wednesday London open session low making it for the weekly low by that time okay don't respond Wednesdays London open at the very
	226	+|225 |00:43:23,130 ~-~-> 00:43:33,600 |least typically get about 70% likelihood that the lows usually formed by Tuesday's long and open just reverse that obviously for bearish conditions. But
	227	+|226 |00:43:34,110 ~-~-> 00:43:46,950 |you know, the way I manage my stops once they've moved to breakeven, I use a 15 minute timeframe. And I find the most recent swing low on a 15 minute basis. I
	228	+|227 |00:43:46,950 ~-~-> 00:43:57,900 |knew that one and then I go back to the previous swing low prior to that one that swing lows where I take my stop and I just place it just on in bullish
	229	+|228 |00:43:57,900 ~-~-> 00:44:09,690 |environments just beneath it by 10 to 15 pips, okay 10 to 15 pips below the second most recent swing low on a 15 minute timeframe. And I trail the market
	230	+|229 |00:44:09,690 ~-~-> 00:44:18,900 |like that I'm giving my market, a little bit of opportunity, okay to retrace but not Kamali back down. If it comes back down that far. I'm accepting the fact
	231	+|230 |00:44:18,900 ~-~-> 00:44:26,460 |that you know, the move is probably done, I missed an ideal opportunity to get out. Or the markets reverse and my analysis was wrong and there's certainly
	232	+|231 |00:44:26,460 ~-~-> 00:44:31,320 |nothing wrong with admitting that but by using the previous to
	233	+|232 |00:44:32,340 ~-~-> 00:44:43,920 |swing lows, okay, what it's doing is it's allowing successive 79% retracement levels, okay. And when we look at an examples, you'll see what I mean by that,
	234	+|233 |00:44:43,920 ~-~-> 00:44:55,230 |but it just it builds in a allowance for market structure to continue to make higher highs and higher lows. Okay. Plus, it keeps it away from just pure static
	235	+|234 |00:44:55,230 ~-~-> 00:45:06,900 |volatility coming down and tagging you okay? That's the reason why you want to be taking some profits. Okay initially, okay, it may be 20 pips, maybe 30 pips,
	236	+|235 |00:45:06,900 ~-~-> 00:45:13,680 |you may be getting one for one and let the remaining portion of your trade unwind, okay, and then reach for hard objectives. There's nothing wrong with
	237	+|236 |00:45:13,680 ~-~-> 00:45:21,360 |that. But there's going to be a camp out there that listens to this and says, Well, you know, you're risking 30 pips. But then when you cut the position in
	238	+|237 |00:45:21,360 ~-~-> 00:45:32,880 |half at 20 or 30 pips, you're really not making any headway with doing it. Well, I beg to differ. Okay? If you have consistency on your side, you are shielding
	239	+|238 |00:45:32,880 ~-~-> 00:45:39,570 |yourself from the inevitable market turn around while you're in the trade where it does have a small profit, okay? And there's nothing guaranteed it's going to
	240	+|239 |00:45:39,600 ~-~-> 00:45:51,330 |get to your first target objective, or second, or move in your favor at all. Okay, that camp that believes that taking some partial profits, has a fixation
	241	+|240 |00:45:51,330 ~-~-> 00:45:59,220 |that thinking that they're always going to be right. So therefore, their trade should hold on to the maximum lots that were assumed at the beginning of trade,
	242	+|241 |00:45:59,520 ~-~-> 00:46:09,000 |for the full duration of the trade, with the expectation of making maximum profit. My goal was a professional trader, and it should be yours as well. Your
	243	+|242 |00:46:09,000 ~-~-> 00:46:18,930 |goal is to have the maximum protection from losing your money, because the likelihood of you doing that is almost guaranteed, versus the likelihood of you
	244	+|243 |00:46:18,930 ~-~-> 00:46:27,300 |making money consistently. Okay, think about that for a moment. You didn't listen to it closely. Rewind this video for a sec, couple minutes, and then go
	245	+|244 |00:46:27,300 ~-~-> 00:46:39,000 |back and listen that portion part, again, because it is worth its weight in gold. It's so easy for us to think that we're going to make more money. If we
	246	+|245 |00:46:39,000 ~-~-> 00:46:49,230 |hold more reach for higher price objectives or lower price objectives. If we're short. There's no guarantee it's getting there. No guarantee. And there's been
	247	+|246 |00:46:49,230 ~-~-> 00:46:57,630 |so many times where I've been so close to the actual highs and lows of the particular market. I was trading, okay, I'm talking weekly highs, where the
	248	+|247 |00:46:57,630 ~-~-> 00:47:07,200 |market turned around and then went months the other direction. Okay. I have been so close where I've just been partial, I mean a piece of a pip not even a full
	249	+|248 |00:47:07,200 ~-~-> 00:47:18,780 |Pip. And I didn't get my exit. Okay. And to me, I hate that feeling. A lot of folks would say me, that's, that's cool. That's crazy accuracy. Yeah, but I
	250	+|249 |00:47:18,780 ~-~-> 00:47:27,180 |didn't get out of that point. So how accurate is it? It just because I said it was going to go there I had an order to get out and the only trades a half a pip
	251	+|250 |00:47:27,180 ~-~-> 00:47:36,270 |to that point, it doesn't activate new the order. That doesn't make me smart. It doesn't make me an excellent trader, it makes me a person that missed that move.
	252	+|251 |00:47:36,630 ~-~-> 00:47:46,380 |Okay, I didn't get my trade off, like I wanted to. And initially as a commodity trader, I, you know, I would make that mistake. And it would, it would get close
	253	+|252 |00:47:46,380 ~-~-> 00:47:53,910 |to my orders. And I'm saying this when I started getting consistent that when I first started because I wasn't that accurate. I didn't know anything else is
	254	+|253 |00:47:53,910 ~-~-> 00:48:06,690 |fine. You flying by the seat of my pants. The the notion of holding on to moves to get the last piece of the pie is, you know, it's a losers mentality. You
	255	+|254 |00:48:06,690 ~-~-> 00:48:20,820 |don't want to do that. You just need a big portion of the move. And I just think like a wine, you know, to me, I think he's, he's it in on the on the terrain of,
	256	+|255 |00:48:20,970 ~-~-> 00:48:33,510 |you know, the outback, or, you know, the outback, I guess the Africa is playing, I guess as well thinking about you, when they when they eat, okay? They eat a
	257	+|256 |00:48:33,510 ~-~-> 00:48:45,780 |large portion of whatever was taken down by Linus, okay. But they're not consuming everything. And those are what the line does, okay? He lets the
	258	+|257 |00:48:45,780 ~-~-> 00:48:53,010 |lionesses do the work. They chase down the prey, they take it down, they kill it. Okay, they may be getting a nibble or two, okay? But he comes over and says,
	259	+|258 |00:48:53,010 ~-~-> 00:48:58,860 |Okay, look, it's obvious things did, I'm not wasting any effort. Okay, I'm gonna go over there and run them off.
	260	+|259 |00:48:59,430 ~-~-> 00:49:09,810 |I'm gonna eat what I want. And I ain't going to consume it all. I'll leave a portion for them to eat too. But he's getting the lion's share. Every move has a
	261	+|260 |00:49:09,810 ~-~-> 00:49:21,570 |lion's share, all you need is a portion of that. Or the Linus is starving? No. Are the Cubs starving? No, everybody's gonna get their piece of the pie. But you
	262	+|261 |00:49:21,570 ~-~-> 00:49:29,520 |don't have to rush in here. Trying to get the very, very low and get the very, very high nonwords You don't need to make the kill. And that turns the market
	263	+|262 |00:49:29,520 ~-~-> 00:49:40,890 |around. And you don't have to make the apex, you know high. Okay, you don't have to find the very lowest point of the low. Okay, you leave a little bit on there.
	264	+|263 |00:49:40,950 ~-~-> 00:49:49,830 |Okay, let those other traders try to chase all that stuff. You don't need that. And the same thing applies. it's applicable to your stops, give it some room.
	265	+|264 |00:49:49,890 ~-~-> 00:49:57,660 |Don't be afraid to have the market come back against you. And some of the exercises that you need to be doing is to have a demo account and put your
	266	+|265 |00:49:57,660 ~-~-> 00:50:08,700 |trades on and let them Come all the way down to your stop. Okay? Don't think about targets just think okay, I'm gonna be buying today at eight GMT.
	267	+|266 |00:50:09,030 ~-~-> 00:50:19,290 |Regardless, wherever the price is up at 30 pips stop one, and just watch what price does, okay? And just assume what you'd be feeling. If you were in the
	268	+|267 |00:50:19,290 ~-~-> 00:50:30,090 |marketplace at that time, how the market trades down to your stop what it does after it hits it, okay? And then start applying it with your tools that we
	269	+|268 |00:50:30,090 ~-~-> 00:50:38,850 |learned in these videos. Okay, applying the price action study, then using a 30 PIP stop below the entry point that where you enter that, okay, and watch the
	270	+|269 |00:50:38,850 ~-~-> 00:50:49,470 |market move once it takes the first profit target that we discussed at 127 extension, or an old high did you pull your own fib from when you see that first
	271	+|270 |00:50:49,470 ~-~-> 00:51:00,510 |target hit, don't move your stop up. Okay? Do a couple trades like I do about 20 trades or so. Like that, we just go to breakeven once first targets hit and then
	272	+|271 |00:51:00,510 ~-~-> 00:51:09,480 |wait for the second target to be fulfilled, do not move the stop either you get the second target or you get stopped out. Do that for 20 trades, okay? And it's
	273	+|272 |00:51:09,480 ~-~-> 00:51:18,630 |obviously easier and faster to do it on the intraday basis. Like Don't you have five minutes 15 minutes setups. But some of you traders can't do that because
	274	+|273 |00:51:18,630 ~-~-> 00:51:27,090 |you're you have jobs or whatever, but that's fine. But then eventually then graduate to moving your stop loss in the form that we just discussed. Now by
	275	+|274 |00:51:27,090 ~-~-> 00:51:36,840 |having a 15 minute time frame use the most to recent swing lows for bullish scenarios 10 to 15 pips below the lowest, or the most recent to swing lows.
	276	+|275 |00:51:37,200 ~-~-> 00:51:46,140 |Okay. And obviously, just for clarity for those that are selling short, using your demo account. Yeah, I got that in here. I'm not trying to tell you to do
	277	+|276 |00:51:46,140 ~-~-> 00:51:56,460 |anything with real money. Guys, I'm not licensed to do that. These are just ideas to stimulate you your decision making the selling scenario, you would just
	278	+|277 |00:51:56,460 ~-~-> 00:52:05,340 |use the 15 minute most recent to swing highs and the highest of the two, you would use your stop loss 10 to 15 pips above it. And you would trail that
	279	+|278 |00:52:05,340 ~-~-> 00:52:18,570 |accordingly until it hits your ultimate target. That's really the essential element to having stoploss management, there's nothing new, much deeper than
	280	+|279 |00:52:18,570 ~-~-> 00:52:26,850 |that. It's very simple. I try not to complicate it, I use it have all kinds of intricate ways of doing this and doing that. And I found that you just simply by
	281	+|280 |00:52:26,850 ~-~-> 00:52:34,950 |taking a 15 minute chart, use the most recent swing lows and highs wherever to wherever those two are, whatever the lowest one is, that's where I'm going to
	282	+|281 |00:52:34,950 ~-~-> 00:52:38,940 |have my stop in, in, in relationship to where price is now.
	283	+|282 |00:52:55,170 ~-~-> 00:53:06,570 |Okay, guys, in Episode Seven, we're gonna be looking at selecting multiple targets. We talking about setting a limit orders at logical price levels for
	284	+|283 |00:53:06,570 ~-~-> 00:53:23,550 |exits. And we're gonna be talking about the ICT split gains ratio, leaving some for the just in case scenario, principles for multiple timeframe trading. And
	285	+|284 |00:53:23,550 ~-~-> 00:53:36,240 |will have the foundation to success that will be given to you in blueprint format in the final episode in this series, Part Eight. And I think you'll have
	286	+|285 |00:53:36,240 ~-~-> 00:53:49,020 |a pretty good idea of what should be done from beginning to end stages. And I'm using in a flowchart format for the part eight series where you know, if this is
	287	+|286 |00:53:49,020 ~-~-> 00:54:03,330 |if a condition is x, then you go to this next condition. Once that condition is met, you go to next. So I'm, I'm a computer programmer, and I guess anyone that
	288	+|287 |00:54:03,330 ~-~-> 00:54:18,540 |has a computer programming experience, would understand that it's the IF THEN scenarios that we learned in computer programming. If If you can't really build
	289	+|288 |00:54:18,570 ~-~-> 00:54:30,630 |a mindset of trading after Part Eight, I'm going to readily admit that I've failed in in sharing some insight on how you could become a more consistent
	290	+|289 |00:54:30,780 ~-~-> 00:54:39,930 |trader. I put a lot of work and it may seem like there's been a lot of time between these individual videos, but it's actually been a whole lot of work on
	291	+|290 |00:54:39,930 ~-~-> 00:54:50,070 |that last one. Because I've tried to give the blanket scenarios for in the common setups that we see you over and over and over again, that's very generic
	292	+|291 |00:54:50,070 ~-~-> 00:54:59,970 |in the marketplace. And it won't catch every single move guys and don't expect that of anything. But I think you'll be pleasantly surprised how many
	293	+|292 |00:55:00,000 ~-~-> 00:55:10,470 |opportunities it will give you an what to do and why. And once you do it for a few months, you won't need the flow chart format you'll just simply know by
	294	+|293 |00:55:10,470 ~-~-> 00:55:21,450 |habit of what you should be doing next and and what to do while the setups are you, you developing. So hopefully this has been insightful to you guys and until
	295	+|294 |00:55:21,480 ~-~-> 00:55:23,340 |next time, wish good luck in the trading
4	4
5		-2
6		-00:00:58,530 ~-~-> 00:01:02,880
7		-installment the it CT sniper series and
8		-
9		-3
10		-00:01:02,880 ~-~-> 00:01:05,670
11		-we're going to be looking at few things
12		-
13		-4
14		-00:01:05,670 ~-~-> 00:01:07,830
15		-in this topic, this is probably going to
16		-
17		-5
18		-00:01:07,830 ~-~-> 00:01:09,780
19		-be one of the most brief out of the
20		-
21		-6
22		-00:01:09,780 ~-~-> 00:01:11,610
23		-series, but I promise you, we're gonna
24		-
25		-7
26		-00:01:11,610 ~-~-> 00:01:16,170
27		-have a gangbusters the last two episodes
28		-
29		-8
30		-00:01:16,170 ~-~-> 00:01:18,360
31		-in the series. This one's kind of
32		-
33		-9
34		-00:01:18,660 ~-~-> 00:01:21,060
35		-important because it really focuses on
36		-
37		-10
38		-00:01:21,060 ~-~-> 00:01:23,580
39		-the risk aspect of trading and the
40		-
41		-11
42		-00:01:23,580 ~-~-> 00:01:25,920
43		-element of reducing risk and controlling
44		-
45		-12
46		-00:01:25,920 ~-~-> 00:01:29,400
47		-risk. While we essentially can't remove
48		-
49		-13
50		-00:01:29,400 ~-~-> 00:01:32,430
51		-entirely every aspect of the risk, we
52		-
53		-14
54		-00:01:32,430 ~-~-> 00:01:36,570
55		-can do our best to try to control it as
56		-
57		-15
58		-00:01:36,570 ~-~-> 00:01:40,380
59		-best we can and or mitigate the effects
60		-
61		-16
62		-00:01:40,410 ~-~-> 00:01:45,270
63		-of risk over a period of time. In this
64		-
65		-17
66		-00:01:45,390 ~-~-> 00:01:47,940
67		-episode, we're going to obviously look
68		-
69		-18
70		-00:01:47,940 ~-~-> 00:01:51,660
71		-at every view of the previous episodes
72		-
73		-19
74		-00:01:51,660 ~-~-> 00:01:55,860
75		-assignment, projecting swing targets and
76		-
77		-20
78		-00:01:55,860 ~-~-> 00:01:57,720
79		-we'll be looking at some examples and
80		-
81		-21
82		-00:01:57,720 ~-~-> 00:02:01,200
83		-projections and illustrate form that
84		-
85		-22
86		-00:02:01,200 ~-~-> 00:02:03,810
87		-we're going to be giving you a Euro USD
88		-
89		-23
90		-00:02:03,810 ~-~-> 00:02:07,650
91		-bullish example a Euro USD bearish
92		-
93		-24
94		-00:02:07,650 ~-~-> 00:02:13,530
95		-example controlling risk and effective
96		-
97		-25
98		-00:02:13,560 ~-~-> 00:02:16,830
99		-stop loss placement. Okay, we're gonna
100		-
101		-26
102		-00:02:16,830 ~-~-> 00:02:18,450
103		-be looking at the concept of limiting
104		-
105		-27
106		-00:02:18,450 ~-~-> 00:02:21,210
107		-your trading to a defined risk percent
108		-
109		-28
110		-00:02:21,210 ~-~-> 00:02:25,590
111		-of equity what is the industry standard?
112		-
113		-29
114		-00:02:27,960 ~-~-> 00:02:32,940
115		-What is ideal for most speculators and
116		-
117		-30
118		-00:02:32,940 ~-~-> 00:02:38,250
119		-when you're hot, how high is high? We're
120		-
121		-31
122		-00:02:38,250 ~-~-> 00:02:40,230
123		-gonna be looking at stoploss concepts
124		-
125		-32
126		-00:02:41,100 ~-~-> 00:02:44,190
127		-and how many pips per risk per trade. I
128		-
129		-33
130		-00:02:44,190 ~-~-> 00:02:47,370
131		-get this a lot in email and how to
132		-
133		-34
134		-00:02:47,370 ~-~-> 00:02:51,210
135		-remove risk and open positions trailing
136		-
137		-35
138		-00:02:51,210 ~-~-> 00:02:55,590
139		-your stop loss and watching your six.
140		-
141		-36
142		-00:02:56,130 ~-~-> 00:02:57,570
143		-Okay, we're gonna be looking at risk
144		-
145		-37
146		-00:02:57,570 ~-~-> 00:03:01,590
147		-reduction versus bail. And we'll have
148		-
149		-38
150		-00:03:01,590 ~-~-> 00:03:03,300
151		-another homework assignment. We're going
152		-
153		-39
154		-00:03:03,300 ~-~-> 00:03:05,790
155		-to be studying the average number of
156		-
157		-40
158		-00:03:05,790 ~-~-> 00:03:06,870
159		-pips intraday.
160		-
161		-41
162		-00:03:13,860 ~-~-> 00:03:15,300
163		-Okay folks real quick just give you a
164		-
165		-42
166		-00:03:15,870 ~-~-> 00:03:21,240
167		-quick example for a bullish upside
168		-
169		-43
170		-00:03:21,240 ~-~-> 00:03:23,220
171		-objective. So in projection, we have
172		-
173		-44
174		-00:03:23,220 ~-~-> 00:03:25,290
175		-this high here, done that is low you see
176		-
177		-45
178		-00:03:25,290 ~-~-> 00:03:27,510
179		-how we have this price swing here now
180		-
181		-46
182		-00:03:27,510 ~-~-> 00:03:29,760
183		-it's comprised of smaller price swings,
184		-
185		-47
186		-00:03:29,760 ~-~-> 00:03:32,730
187		-this is a daily chart, but the overall
188		-
189		-48
190		-00:03:33,000 ~-~-> 00:03:36,240
191		-swing is from this high down to this low
192		-
193		-49
194		-00:03:37,440 ~-~-> 00:03:39,960
195		-and 200 extension which we didn't give
196		-
197		-50
198		-00:03:40,440 ~-~-> 00:03:42,960
199		-the actual level on our fib in this
200		-
201		-51
202		-00:03:42,960 ~-~-> 00:03:45,450
203		-series, but we did talk about the 200
204		-
205		-52
206		-00:03:45,450 ~-~-> 00:03:47,910
207		-being the pretty much the maximum level
208		-
209		-53
210		-00:03:47,910 ~-~-> 00:03:49,950
211		-that we like to see, which is a
212		-
213		-54
214		-00:03:50,040 ~-~-> 00:03:53,010
215		-basically a measured move, type of price
216		-
217		-55
218		-00:03:53,010 ~-~-> 00:03:55,530
219		-phenomenon from this high to this low.
220		-
221		-56
222		-00:03:56,100 ~-~-> 00:03:58,380
223		-That same range is same thing from the
224		-
225		-57
226		-00:03:58,380 ~-~-> 00:04:01,620
227		-high up to this Third Level, you can see
228		-
229		-58
230		-00:04:01,620 ~-~-> 00:04:07,290
231		-it pretty much nailed the high. If we
232		-
233		-59
234		-00:04:07,290 ~-~-> 00:04:13,020
235		-break this down, we can go down into a
236		-
237		-60
238		-00:04:13,020 ~-~-> 00:04:18,480
239		-four hour chart. Okay, and we're going
240		-
241		-61
242		-00:04:18,480 ~-~-> 00:04:24,330
243		-to look at here is that market moving
244		-
245		-62
246		-00:04:24,330 ~-~-> 00:04:28,020
247		-lower here, we have this swing up, okay,
248		-
249		-63
250		-00:04:28,020 ~-~-> 00:04:29,820
251		-so there's going to be a fulcrum point
252		-
253		-64
254		-00:04:29,820 ~-~-> 00:04:33,210
255		-right here. Okay, and I'm going to give
256		-
257		-65
258		-00:04:33,210 ~-~-> 00:04:40,020
259		-you sib projection right here and the
260		-
261		-66
262		-00:04:40,020 ~-~-> 00:04:42,120
263		-200 levels down here. Now we did wick
264		-
265		-67
266		-00:04:42,120 ~-~-> 00:04:44,190
267		-through it a couple times, getting a
268		-
269		-68
270		-00:04:44,190 ~-~-> 00:04:48,120
271		-small little reaction here now but this
272		-
273		-69
274		-00:04:48,120 ~-~-> 00:04:51,540
275		-is the overall price swing and it broke
276		-
277		-70
278		-00:04:51,540 ~-~-> 00:04:55,980
279		-down here is the 127 easily reached 162
280		-
281		-71
282		-00:04:56,100 ~-~-> 00:04:58,650
283		-easily reach and then went down below
284		-
285		-72
286		-00:04:59,340 ~-~-> 00:05:02,460
287		-these markets. Structure loads are here.
288		-
289		-73
290		-00:05:02,610 ~-~-> 00:05:04,320
291		-Okay, so you can see the complete
292		-
293		-74
294		-00:05:04,650 ~-~-> 00:05:07,890
295		-fruition of the market maker sell model.
296		-
297		-75
298		-00:05:08,670 ~-~-> 00:05:10,440
299		-Here we have the consolidation, the
300		-
301		-76
302		-00:05:10,440 ~-~-> 00:05:13,260
303		-breakout of it, the first little pause
304		-
305		-77
306		-00:05:13,260 ~-~-> 00:05:17,490
307		-in here and rally up, failure swing, and
308		-
309		-78
310		-00:05:17,490 ~-~-> 00:05:19,560
311		-then subsequent optimal trade entries,
312		-
313		-79
314		-00:05:19,590 ~-~-> 00:05:22,440
315		-which we call this event right here on
316		-
317		-80
318		-00:05:22,440 ~-~-> 00:05:25,830
319		-Twitter and slammed it down. Okay, we
320		-
321		-81
322		-00:05:25,830 ~-~-> 00:05:29,190
323		-were calling in advance this level here,
324		-
325		-82
326		-00:05:29,580 ~-~-> 00:05:32,910
327		-in this level in here as well. You can
328		-
329		-83
330		-00:05:32,910 ~-~-> 00:05:34,710
331		-find that on Twitter. Again, it's all
332		-
333		-84
334		-00:05:34,710 ~-~-> 00:05:41,010
335		-time and date stamped. Now, you could
336		-
337		-85
338		-00:05:41,580 ~-~-> 00:05:43,650
339		-take this even further and go down to a
340		-
341		-86
342		-00:05:43,650 ~-~-> 00:05:48,810
343		-15 minute time frame. Okay, and just
344		-
345		-87
346		-00:05:48,810 ~-~-> 00:05:50,850
347		-simply looking at the fifth of the
348		-
349		-88
350		-00:05:50,850 ~-~-> 00:05:55,680
351		-member. You can see that we have this
352		-
353		-89
354		-00:05:55,680 ~-~-> 00:05:58,620
355		-swing here, when it breaks this low
356		-
357		-90
358		-00:05:58,620 ~-~-> 00:06:00,990
359		-here, okay. It's going fulcrum point
360		-
361		-91
362		-00:06:00,990 ~-~-> 00:06:03,150
363		-right there. So anything moving down in
364		-
365		-92
366		-00:06:03,150 ~-~-> 00:06:08,280
367		-price will most likely be a third level
368		-
369		-93
370		-00:06:10,590 ~-~-> 00:06:11,880
371		-for downside objectives
372		-
373		-94
374		-00:06:19,019 ~-~-> 00:06:22,109
375		-Okay, here's the 127 extension from this
376		-
377		-95
378		-00:06:22,109 ~-~-> 00:06:26,189
379		-low to high. It's 127 and 162. And then
380		-
381		-96
382		-00:06:26,189 ~-~-> 00:06:29,459
383		-200 extension here. And as a result
384		-
385		-97
386		-00:06:29,459 ~-~-> 00:06:37,049
387		-prices up here, okay? You can see take
388		-
389		-98
390		-00:06:37,049 ~-~-> 00:06:39,869
391		-the seller fibs off, starting to blend.
392		-
393		-99
394		-00:06:42,149 ~-~-> 00:06:44,429
395		-While price is moving lower, you see
396		-
397		-100
398		-00:06:44,429 ~-~-> 00:06:47,129
399		-this rally up. Once it takes the low
400		-
401		-101
402		-00:06:47,129 ~-~-> 00:06:48,599
403		-that we're anchoring the fed from out.
404		-
405		-102
406		-00:06:50,339 ~-~-> 00:06:52,859
407		-Okay, this being the fulcrum point, if
408		-
409		-103
410		-00:06:52,859 ~-~-> 00:06:56,249
411		-you're 127 you're 162 and just fell
412		-
413		-104
414		-00:06:56,249 ~-~-> 00:06:58,379
415		-short of the 200 extension here and
416		-
417		-105
418		-00:06:58,379 ~-~-> 00:06:59,879
419		-again, that's the reason why I don't
420		-
421		-106
422		-00:06:59,879 ~-~-> 00:07:02,189
423		-really Marry, the idea that the 200
424		-
425		-107
426		-00:07:02,219 ~-~-> 00:07:03,569
427		-always going to get hit. I really liked
428		-
429		-108
430		-00:07:03,569 ~-~-> 00:07:06,239
431		-the 162. And I like going 127 obviously,
432		-
433		-109
434		-00:07:07,169 ~-~-> 00:07:10,379
435		-but we'll break it down further in the
436		-
437		-110
438		-00:07:10,379 ~-~-> 00:07:13,109
439		-next video as to the other targets and
440		-
441		-111
442		-00:07:13,139 ~-~-> 00:07:16,709
443		-other means of looking for additional
444		-
445		-112
446		-00:07:16,709 ~-~-> 00:07:19,559
447		-targets and multiple targeting. And
448		-
449		-113
450		-00:07:19,559 ~-~-> 00:07:23,369
451		-that'll be in Part Seven. And I know
452		-
453		-114
454		-00:07:23,369 ~-~-> 00:07:25,349
455		-we've been dealing or at least
456		-
457		-115
458		-00:07:25,349 ~-~-> 00:07:27,749
459		-attempting to move exclusively with the
460		-
461		-116
462		-00:07:27,749 ~-~-> 00:07:30,269
463		-Euro USD pair for this teaching series.
464		-
465		-117
466		-00:07:30,809 ~-~-> 00:07:34,409
467		-But just for the sake of argument, let's
468		-
469		-118
470		-00:07:34,409 ~-~-> 00:07:36,359
471		-take a look at two other pairs. We'll
472		-
473		-119
474		-00:07:36,359 ~-~-> 00:07:42,869
475		-look at the Canadian dollar Okay, here's
476		-
477		-120
478		-00:07:42,869 ~-~-> 00:07:45,749
479		-the Canadian dollar and let's go down to
480		-
481		-121
482		-00:07:45,779 ~-~-> 00:07:54,779
483		-a hourly chart. Okay, and zoom out a
484		-
485		-122
486		-00:07:54,779 ~-~-> 00:07:58,799
487		-little bit. right we have the market,
488		-
489		-123
490		-00:07:58,829 ~-~-> 00:08:04,109
491		-trading lower to a level of support,
492		-
493		-124
494		-00:08:04,109 ~-~-> 00:08:06,929
495		-which I'm not going to outline here, but
496		-
497		-125
498		-00:08:06,929 ~-~-> 00:08:08,429
499		-if you got to your higher timeframes you
500		-
501		-126
502		-00:08:08,429 ~-~-> 00:08:10,169
503		-can find the order block or this reacted
504		-
505		-127
506		-00:08:10,169 ~-~-> 00:08:14,519
507		-to, but if you use this high here,
508		-
509		-128
510		-00:08:15,269 ~-~-> 00:08:18,899
511		-market structure shifts right there. So
512		-
513		-129
514		-00:08:18,899 ~-~-> 00:08:21,509
515		-this becomes a fulcrum point right
516		-
517		-130
518		-00:08:21,569 ~-~-> 00:08:23,939
519		-there. trades kings by comes right back
520		-
521		-131
522		-00:08:23,939 ~-~-> 00:08:26,039
523		-down find support that same level, if
524		-
525		-132
526		-00:08:26,039 ~-~-> 00:08:27,659
527		-you pour from that point down to the
528		-
529		-133
530		-00:08:27,659 ~-~-> 00:08:31,229
531		-lowest low Okay, you have your 127
532		-
533		-134
534		-00:08:31,259 ~-~-> 00:08:35,099
535		-easily reached 162 easily reached and
536		-
537		-135
538		-00:08:35,099 ~-~-> 00:08:41,639
539		-then 200 very easily reached, okay. If
540		-
541		-136
542		-00:08:42,389 ~-~-> 00:08:44,429
543		-you take your fib level
544		-
545		-137
546		-00:08:49,680 ~-~-> 00:08:52,560
547		-here's the 50% level or fulcrum or
548		-
549		-138
550		-00:08:52,560 ~-~-> 00:08:55,290
551		-equilibrium. Okay, you see the 100 level
552		-
553		-139
554		-00:08:55,290 ~-~-> 00:08:56,400
555		-here, which is basically what you're
556		-
557		-140
558		-00:08:56,400 ~-~-> 00:08:59,490
559		-getting with a 200% fair level. Okay,
560		-
561		-141
562		-00:08:59,490 ~-~-> 00:09:02,310
563		-but I'm trying to teach you everything
564		-
565		-142
566		-00:09:02,340 ~-~-> 00:09:05,370
567		-is based on like a 50% basis. Okay, so
568		-
569		-143
570		-00:09:05,370 ~-~-> 00:09:07,680
571		-it's like a 50% rule. If it moves down
572		-
573		-144
574		-00:09:07,680 ~-~-> 00:09:09,450
575		-this many pips once it breaks that high,
576		-
577		-145
578		-00:09:09,450 ~-~-> 00:09:10,680
579		-it should at least try to move this
580		-
581		-146
582		-00:09:10,890 ~-~-> 00:09:13,080
583		-number of pips up, okay? And then when
584		-
585		-147
586		-00:09:13,080 ~-~-> 00:09:15,540
587		-it does that we have, it's referred to
588		-
589		-148
590		-00:09:15,540 ~-~-> 00:09:18,150
591		-as market symmetry and trading patterns
592		-
593		-149
594		-00:09:18,150 ~-~-> 00:09:23,070
595		-and setups become very, very clean and
596		-
597		-150
598		-00:09:23,070 ~-~-> 00:09:25,410
599		-very high probability when that occurs.
600		-
601		-151
602		-00:09:26,160 ~-~-> 00:09:28,170
603		-Okay, since we taken out this low, I'm
604		-
605		-152
606		-00:09:28,170 ~-~-> 00:09:31,140
607		-sorry, this high rather here. Okay, one
608		-
609		-153
610		-00:09:31,140 ~-~-> 00:09:38,370
611		-could do this on high down this low. You
612		-
613		-154
614		-00:09:38,370 ~-~-> 00:09:40,650
615		-have 127 up here, and you want to show
616		-
617		-155
618		-00:09:40,650 ~-~-> 00:09:42,330
619		-up here, which incidentally is an old
620		-
621		-156
622		-00:09:42,330 ~-~-> 00:09:48,390
623		-high back here, you zoom out. See that
624		-
625		-157
626		-00:09:48,480 ~-~-> 00:09:51,180
627		-is the case and we're here. Again, it's
628		-
629		-158
630		-00:09:51,180 ~-~-> 00:09:52,560
631		-assuming we do have traction and
632		-
633		-159
634		-00:09:52,560 ~-~-> 00:09:54,750
635		-continue to move higher. The next pair
636		-
637		-160
638		-00:09:54,750 ~-~-> 00:09:56,250
639		-we're going to look at is the British
640		-
641		-161
642		-00:09:56,250 ~-~-> 00:10:01,080
643		-Pound USD and Here you go is a nice
644		-
645		-162
646		-00:10:02,370 ~-~-> 00:10:04,770
647		-order block and then reaction of it.
648		-
649		-163
650		-00:10:04,980 ~-~-> 00:10:08,070
651		-This was put on the chart in advance and
652		-
653		-164
654		-00:10:08,280 ~-~-> 00:10:10,590
655		-you can see the reaction of price
656		-
657		-165
658		-00:10:10,590 ~-~-> 00:10:14,100
659		-afterwards. But we're going to look at
660		-
661		-166
662		-00:10:15,780 ~-~-> 00:10:20,010
663		-taking this fit off and we'll take the
664		-
665		-167
666		-00:10:20,010 ~-~-> 00:10:28,680
667		-rectangle off. zoom a little bit. Okay,
668		-
669		-168
670		-00:10:29,700 ~-~-> 00:10:32,130
671		-now we have the same scenario here. We
672		-
673		-169
674		-00:10:32,130 ~-~-> 00:10:35,190
675		-have price moving down, nice price leg
676		-
677		-170
678		-00:10:35,190 ~-~-> 00:10:38,850
679		-here, comes in rejects this low. Okay,
680		-
681		-171
682		-00:10:38,880 ~-~-> 00:10:41,040
683		-there's several of them in here and you
684		-
685		-172
686		-00:10:41,040 ~-~-> 00:10:43,500
687		-can use obviously, we'll use this one
688		-
689		-173
690		-00:10:43,500 ~-~-> 00:10:46,050
691		-here, this swing when this high here,
692		-
693		-174
694		-00:10:46,050 ~-~-> 00:10:49,350
695		-rancor and it's broke to the upside. You
696		-
697		-175
698		-00:10:49,350 ~-~-> 00:10:52,530
699		-see the Fibonacci levels come into play.
700		-
701		-176
702		-00:10:52,530 ~-~-> 00:10:56,490
703		-Here's the 127 easily reached 162 and
704		-
705		-177
706		-00:10:56,490 ~-~-> 00:10:59,160
707		-then 200 extension here. Okay, going
708		-
709		-178
710		-00:10:59,160 ~-~-> 00:11:00,630
711		-back to this higher market structure
712		-
713		-179
714		-00:11:00,630 ~-~-> 00:11:02,730
715		-high here using that same reference low
716		-
717		-180
718		-00:11:06,060 ~-~-> 00:11:09,810
719		-This is how you trade within a markets
720		-
721		-181
722		-00:11:10,110 ~-~-> 00:11:14,280
723		-structure. So once this highest violated
724		-
725		-182
726		-00:11:14,490 ~-~-> 00:11:16,530
727		-right here, we would be looking for
728		-
729		-183
730		-00:11:16,530 ~-~-> 00:11:19,680
731		-upside objectives 127 easily reached
732		-
733		-184
734		-00:11:20,310 ~-~-> 00:11:22,860
735		-once you can easily reached 200 level
736		-
737		-185
738		-00:11:23,160 ~-~-> 00:11:27,420
739		-easily reached. Okay. Let's go out to an
740		-
741		-186
742		-00:11:27,420 ~-~-> 00:11:33,450
743		-hourly chart, same pair. Okay, let's
744		-
745		-187
746		-00:11:33,510 ~-~-> 00:11:34,530
747		-scroll up a little bit.
748		-
749		-188
750		-00:11:35,760 ~-~-> 00:11:36,450
751		-And now
752		-
753		-189
754		-00:11:42,750 ~-~-> 00:11:48,960
755		-since I can get this fib Okay, we'll use
756		-
757		-190
758		-00:11:48,960 ~-~-> 00:11:51,840
759		-this high here. And price just reached
760		-
761		-191
762		-00:11:51,840 ~-~-> 00:11:54,060
763		-the 127 extension here and the upside
764		-
765		-192
766		-00:11:54,060 ~-~-> 00:12:00,000
767		-would be 162. And if you use this hi
768		-
769		-193
770		-00:12:00,000 ~-~-> 00:12:01,860
771		-Here, all we're doing is moving out to
772		-
773		-194
774		-00:12:01,860 ~-~-> 00:12:06,060
775		-the next successive market. Hi. So each
776		-
777		-195
778		-00:12:06,060 ~-~-> 00:12:07,440
779		-one of these is a price swing, you have
780		-
781		-196
782		-00:12:07,440 ~-~-> 00:12:09,780
783		-a high down to that low, you have a high
784		-
785		-197
786		-00:12:09,780 ~-~-> 00:12:11,580
787		-down that that same low, okay, these are
788		-
789		-198
790		-00:12:12,390 ~-~-> 00:12:15,180
791		-all reference points for reactions.
792		-
793		-199
794		-00:12:15,420 ~-~-> 00:12:21,900
795		-Okay, you have 127 now here and you have
796		-
797		-200
798		-00:12:21,900 ~-~-> 00:12:27,630
799		-this one here is a lot of liquidity
800		-
801		-201
802		-00:12:27,630 ~-~-> 00:12:28,860
803		-sitting right above that these are all
804		-
805		-202
806		-00:12:28,860 ~-~-> 00:12:30,960
807		-hourly candles, unable to make a higher
808		-
809		-203
810		-00:12:30,960 ~-~-> 00:12:32,970
811		-high in here. And now we're about to
812		-
813		-204
814		-00:12:32,970 ~-~-> 00:12:34,380
815		-blow that out right now while I'm
816		-
817		-205
818		-00:12:34,380 ~-~-> 00:12:38,790
819		-recording. And then the 127 resides up
820		-
821		-206
822		-00:12:38,790 ~-~-> 00:12:42,270
823		-there. Now, with these levels in mind,
824		-
825		-207
826		-00:12:42,690 ~-~-> 00:12:49,800
827		-okay. We're going to highlight that 162
828		-
829		-208
830		-00:12:54,480 ~-~-> 00:13:04,320
831		-to 127 and Now what I'm gonna do is I'm
832		-
833		-209
834		-00:13:04,320 ~-~-> 00:13:09,420
835		-gonna reference this larger price swing.
836		-
837		-210
838		-00:13:10,860 ~-~-> 00:13:12,330
839		-Because remember markets are fractal,
840		-
841		-211
842		-00:13:12,660 ~-~-> 00:13:16,020
843		-okay? And the high down to lowest low.
844		-
845		-212
846		-00:13:16,950 ~-~-> 00:13:19,200
847		-You see what resides over here. Here's
848		-
849		-213
850		-00:13:19,200 ~-~-> 00:13:22,290
851		-the 62% sweet spot in southern lights
852		-
853		-214
854		-00:13:22,290 ~-~-> 00:13:24,420
855		-and chasing a level there's a high
856		-
857		-215
858		-00:13:24,420 ~-~-> 00:13:26,460
859		-probability to cable or reach out to
860		-
861		-216
862		-00:13:26,460 ~-~-> 00:13:27,420
863		-these levels in here.
864		-
865		-217
866		-00:13:32,640 ~-~-> 00:13:38,520
867		-Okay, and you can just note that read in
868		-
869		-218
870		-00:13:38,520 ~-~-> 00:13:43,170
871		-there. Okay? And that would be a good
872		-
873		-219
874		-00:13:43,170 ~-~-> 00:13:47,070
875		-area to have some scenarios. We have an
876		-
877		-220
878		-00:13:47,070 ~-~-> 00:13:50,460
879		-order block in here. That can be a
880		-
881		-221
882		-00:13:50,460 ~-~-> 00:13:53,130
883		-factor if we get through this area in
884		-
885		-222
886		-00:13:53,130 ~-~-> 00:13:55,920
887		-here, because this is a nice support
888		-
889		-223
890		-00:13:55,920 ~-~-> 00:13:59,160
891		-level. Never been retested. So we may
892		-
893		-224
894		-00:13:59,160 ~-~-> 00:14:01,440
895		-come up to sec two retracing, however,
896		-
897		-225
898		-00:14:01,440 ~-~-> 00:14:07,830
899		-on that 161 25 level 161 32 we could tap
900		-
901		-226
902		-00:14:07,830 ~-~-> 00:14:12,750
903		-into that. But any uncommon blending
904		-
905		-227
906		-00:14:12,870 ~-~-> 00:14:15,060
907		-couple things here, but the Fibonacci
908		-
909		-228
910		-00:14:15,870 ~-~-> 00:14:18,180
911		-price projections, but hopefully you got
912		-
913		-229
914		-00:14:18,630 ~-~-> 00:14:20,160
915		-a few examples here you can see how
916		-
917		-230
918		-00:14:20,760 ~-~-> 00:14:22,770
919		-useful they are and from the time we did
920		-
921		-231
922		-00:14:22,770 ~-~-> 00:14:28,920
923		-our recording the last time let's just
924		-
925		-232
926		-00:14:28,920 ~-~-> 00:14:30,900
927		-give a sell scenario. And we had this
928		-
929		-233
930		-00:14:30,900 ~-~-> 00:14:33,120
931		-price rally up, when this low is
932		-
933		-234
934		-00:14:33,120 ~-~-> 00:14:36,120
935		-violated as it is here. This low becomes
936		-
937		-235
938		-00:14:36,120 ~-~-> 00:14:39,450
939		-a fulcrum point in any price action from
940		-
941		-236
942		-00:14:39,450 ~-~-> 00:14:43,020
943		-that point from that low up here. Once
944		-
945		-237
946		-00:14:43,020 ~-~-> 00:14:45,450
947		-it's finally lower. Here's the 127
948		-
949		-238
950		-00:14:45,450 ~-~-> 00:14:48,840
951		-easily met 162 easily met 200% extension
952		-
953		-239
954		-00:14:49,320 ~-~-> 00:14:58,020
955		-easily met. Okay. And you'd probably see
956		-
957		-240
958		-00:14:58,020 ~-~-> 00:14:59,220
959		-Kayla actually do that while I'm
960		-
961		-241
962		-00:14:59,640 ~-~-> 00:15:03,150
963		-recording This kind of tend to relate to
964		-
965		-242
966		-00:15:03,150 ~-~-> 00:15:06,240
967		-keep it on SR cheat what it does but
968		-
969		-243
970		-00:15:06,240 ~-~-> 00:15:08,520
971		-anyway, you just watch it on your charts
972		-
973		-244
974		-00:15:08,520 ~-~-> 00:15:12,810
975		-in retrospect but you can see obviously
976		-
977		-245
978		-00:15:12,810 ~-~-> 00:15:14,940
979		-you know the fibs when you have it in
980		-
981		-246
982		-00:15:15,120 ~-~-> 00:15:17,760
983		-the right direction. They're very strong
984		-
985		-247
986		-00:15:17,820 ~-~-> 00:15:20,550
987		-in terms of looking for high level,
988		-
989		-248
990		-00:15:21,180 ~-~-> 00:15:23,010
991		-upside and downside objectives. We have
992		-
993		-249
994		-00:15:23,010 ~-~-> 00:15:26,460
995		-this low made here from this high. I'll
996		-
997		-250
998		-00:15:26,460 ~-~-> 00:15:28,380
999		-just give you a bullish scenario on the
1000		-
1001		-251
1002		-00:15:28,380 ~-~-> 00:15:32,430
1003		-cable. I'm dragging and as you can see
1004		-
1005		-252
1006		-00:15:32,430 ~-~-> 00:15:34,980
1007		-the levels and the reactions to the high
1008		-
1009		-253
1010		-00:15:34,980 ~-~-> 00:15:38,370
1011		-say is high down to that low 127 easily
1012		-
1013		-254
1014		-00:15:38,370 ~-~-> 00:15:41,520
1015		-met 162 easily met 200 extension bang
1016		-
1017		-255
1018		-00:15:42,180 ~-~-> 00:15:44,160
1019		-swept through it a few times and here
1020		-
1021		-256
1022		-00:15:44,190 ~-~-> 00:15:46,710
1023		-again this is why we do not try to get
1024		-
1025		-257
1026		-00:15:46,710 ~-~-> 00:15:48,840
1027		-all that we don't care that it does this
1028		-
1029		-258
1030		-00:15:48,930 ~-~-> 00:15:53,610
1031		-okay. If one is able to just get a PC
1032		-
1033		-259
1034		-00:15:53,610 ~-~-> 00:15:58,800
1035		-got it in here, not to the 160 to 210
1036		-
1037		-260
1038		-00:15:58,800 ~-~-> 00:16:00,990
1039		-pips nothing wrong Who cares about the
1040		-
1041		-261
1042		-00:16:00,990 ~-~-> 00:16:04,860
1043		-remaining portion? Okay? Let the club z.
1044		-
1045		-262
1046		-00:16:06,690 ~-~-> 00:16:08,070
1047		-Alright, so hopefully it's been
1048		-
1049		-263
1050		-00:16:08,070 ~-~-> 00:16:09,000
1051		-insightful to you guys.
1052		-
1053		-264
1054		-00:16:16,080 ~-~-> 00:16:18,570
1055		-Okay guys, we're going to be looking at
1056		-
1057		-265
1058		-00:16:19,050 ~-~-> 00:16:22,950
1059		-how stop loss pain placement is utilized
1060		-
1061		-266
1062		-00:16:22,980 ~-~-> 00:16:25,200
1063		-in your trading. We're gonna be looking
1064		-
1065		-267
1066		-00:16:25,200 ~-~-> 00:16:28,620
1067		-at how risk percentage is an important
1068		-
1069		-268
1070		-00:16:28,620 ~-~-> 00:16:31,410
1071		-factor to your trading. But before we
1072		-
1073		-269
1074		-00:16:31,410 ~-~-> 00:16:32,580
1075		-get into all that we're gonna be looking
1076		-
1077		-270
1078		-00:16:32,580 ~-~-> 00:16:35,160
1079		-at how, obviously looking at a bullish
1080		-
1081		-271
1082		-00:16:35,160 ~-~-> 00:16:36,870
1083		-scenario here, everything we talked
1084		-
1085		-272
1086		-00:16:36,870 ~-~-> 00:16:40,890
1087		-about in this example can be flipped 180
1088		-
1089		-273
1090		-00:16:40,890 ~-~-> 00:16:42,720
1091		-degrees, okay? And you'll see the
1092		-
1093		-274
1094		-00:16:42,720 ~-~-> 00:16:45,180
1095		-opposite for selling scenarios. Okay, so
1096		-
1097		-275
1098		-00:16:45,180 ~-~-> 00:16:46,920
1099		-every row you see here, just reverse it,
1100		-
1101		-276
1102		-00:16:47,400 ~-~-> 00:16:50,190
1103		-and you'll get the understanding for
1104		-
1105		-277
1106		-00:16:50,190 ~-~-> 00:16:52,560
1107		-selling short in the market and how to
1108		-
1109		-278
1110		-00:16:52,560 ~-~-> 00:16:56,220
1111		-control your stops and such. Okay, we're
1112		-
1113		-279
1114		-00:16:56,220 ~-~-> 00:16:58,230
1115		-going to assume that we have a key level
1116		-
1117		-280
1118		-00:16:58,230 ~-~-> 00:17:00,270
1119		-and or institutional order Lock
1120		-
1121		-281
1122		-00:17:00,270 ~-~-> 00:17:02,220
1123		-identified on our charts. And again,
1124		-
1125		-282
1126		-00:17:02,220 ~-~-> 00:17:03,450
1127		-we're gonna be looking at a daily chart
1128		-
1129		-283
1130		-00:17:03,450 ~-~-> 00:17:06,660
1131		-for this example. And the market has
1132		-
1133		-284
1134		-00:17:06,690 ~-~-> 00:17:08,700
1135		-been showing in this crude example in
1136		-
1137		-285
1138		-00:17:08,700 ~-~-> 00:17:11,970
1139		-hypothetical terms, that price would be
1140		-
1141		-286
1142		-00:17:12,330 ~-~-> 00:17:15,720
1143		-more or less trading down to our line
1144		-
1145		-287
1146		-00:17:15,720 ~-~-> 00:17:20,820
1147		-here of anticipation. And as price
1148		-
1149		-288
1150		-00:17:20,820 ~-~-> 00:17:23,670
1151		-starts to move aggressively down to that
1152		-
1153		-289
1154		-00:17:23,670 ~-~-> 00:17:26,760
1155		-level, we would be, hopefully if we're
1156		-
1157		-290
1158		-00:17:26,760 ~-~-> 00:17:27,840
1159		-not in front of our charts, who would
1160		-
1161		-291
1162		-00:17:27,840 ~-~-> 00:17:30,960
1163		-have our platform for trading, alert us
1164		-
1165		-292
1166		-00:17:31,020 ~-~-> 00:17:33,480
1167		-to the fact that price is getting to our
1168		-
1169		-293
1170		-00:17:33,480 ~-~-> 00:17:35,430
1171		-specific higher timeframe price level,
1172		-
1173		-294
1174		-00:17:36,300 ~-~-> 00:17:38,820
1175		-as price trades to that level, again,
1176		-
1177		-295
1178		-00:17:38,820 ~-~-> 00:17:41,250
1179		-because we are flexible, we are not
1180		-
1181		-296
1182		-00:17:41,550 ~-~-> 00:17:44,370
1183		-limiting our perspective simply to one
1184		-
1185		-297
1186		-00:17:44,370 ~-~-> 00:17:46,170
1187		-line, therefore, it has to stop on that
1188		-
1189		-298
1190		-00:17:46,170 ~-~-> 00:17:49,050
1191		-line turn on a dime. Okay, there is a
1192		-
1193		-299
1194		-00:17:49,050 ~-~-> 00:17:51,060
1195		-gray area in trading that we I
1196		-
1197		-300
1198		-00:17:51,120 ~-~-> 00:17:53,190
1199		-identified earlier in the series, and
1200		-
1201		-301
1202		-00:17:53,190 ~-~-> 00:17:56,460
1203		-we've come to hopefully by now, terms
1204		-
1205		-302
1206		-00:17:56,460 ~-~-> 00:17:58,890
1207		-with the fact that we can't get
1208		-
1209		-303
1210		-00:17:59,010 ~-~-> 00:18:00,570
1211		-perfection in the market. To place in
1212		-
1213		-304
1214		-00:18:00,570 ~-~-> 00:18:03,000
1215		-terms of turning points, okay, we have
1216		-
1217		-305
1218		-00:18:03,150 ~-~-> 00:18:06,630
1219		-rough ideas where price should turn, but
1220		-
1221		-306
1222		-00:18:06,660 ~-~-> 00:18:08,970
1223		-even the highest level key levels and
1224		-
1225		-307
1226		-00:18:08,970 ~-~-> 00:18:10,980
1227		-support levels and institutional order
1228		-
1229		-308
1230		-00:18:10,980 ~-~-> 00:18:15,600
1231		-blocks have a little bit of gray areas
1232		-
1233		-309
1234		-00:18:15,600 ~-~-> 00:18:16,920
1235		-where it could deviate just a little
1236		-
1237		-310
1238		-00:18:16,920 ~-~-> 00:18:19,680
1239		-bit. But more specifically, we're gonna
1240		-
1241		-311
1242		-00:18:19,680 ~-~-> 00:18:21,180
1243		-be highlighting, obviously, all of our
1244		-
1245		-312
1246		-00:18:21,180 ~-~-> 00:18:23,760
1247		-trades around key levels around numbers,
1248		-
1249		-313
1250		-00:18:23,760 ~-~-> 00:18:26,730
1251		-institutional levels, and a confluence
1252		-
1253		-314
1254		-00:18:26,760 ~-~-> 00:18:30,090
1255		-of support and resistance factors with
1256		-
1257		-315
1258		-00:18:30,210 ~-~-> 00:18:32,100
1259		-time of day. Okay, so you haven't time
1260		-
1261		-316
1262		-00:18:32,100 ~-~-> 00:18:35,370
1263		-and price theory combined. So as price
1264		-
1265		-317
1266		-00:18:35,370 ~-~-> 00:18:38,340
1267		-goes down into this level, that's when
1268		-
1269		-318
1270		-00:18:38,340 ~-~-> 00:18:42,540
1271		-we are on the prowl for a buy scenario,
1272		-
1273		-319
1274		-00:18:42,570 ~-~-> 00:18:44,460
1275		-okay, we're trying to buy during that
1276		-
1277		-320
1278		-00:18:44,460 ~-~-> 00:18:46,620
1279		-event. We don't want to be buying after
1280		-
1281		-321
1282		-00:18:46,620 ~-~-> 00:18:48,360
1283		-the move has already turned around and
1284		-
1285		-322
1286		-00:18:48,360 ~-~-> 00:18:50,160
1287		-everybody sees that it's a swing low and
1288		-
1289		-323
1290		-00:18:50,160 ~-~-> 00:18:51,930
1291		-it's moved up for three or four days. We
1292		-
1293		-324
1294		-00:18:51,930 ~-~-> 00:18:55,320
1295		-want to be buying in a suppressed market
1296		-
1297		-325
1298		-00:18:55,320 ~-~-> 00:18:56,490
1299		-environment. We're going to be looking
1300		-
1301		-326
1302		-00:18:56,490 ~-~-> 00:18:58,980
1303		-at bargain prices, okay? We don't want
1304		-
1305		-327
1306		-00:18:58,980 ~-~-> 00:19:00,960
1307		-to be buying at retail prices, we
1308		-
1309		-328
1310		-00:19:00,960 ~-~-> 00:19:02,940
1311		-wouldn't be buying wholesale. Okay, so
1312		-
1313		-329
1314		-00:19:03,480 ~-~-> 00:19:05,370
1315		-assuming that we use the information we
1316		-
1317		-330
1318		-00:19:05,370 ~-~-> 00:19:07,860
1319		-talked about earlier in this series, in
1320		-
1321		-331
1322		-00:19:07,860 ~-~-> 00:19:11,760
1323		-terms of framing a reactionary level to
1324		-
1325		-332
1326		-00:19:11,760 ~-~-> 00:19:14,970
1327		-a trade, we're going to assume that we
1328		-
1329		-333
1330		-00:19:14,970 ~-~-> 00:19:17,010
1331		-anticipated at that key level, the
1332		-
1333		-334
1334		-00:19:17,010 ~-~-> 00:19:18,930
1335		-market had turned. Okay, and maybe
1336		-
1337		-335
1338		-00:19:18,930 ~-~-> 00:19:21,090
1339		-retesting gave us an optimal trade entry
1340		-
1341		-336
1342		-00:19:21,090 ~-~-> 00:19:22,950
1343		-on a lower timeframe. Now, we're going
1344		-
1345		-337
1346		-00:19:22,950 ~-~-> 00:19:25,020
1347		-to assume for this example, that we were
1348		-
1349		-338
1350		-00:19:25,050 ~-~-> 00:19:26,970
1351		-fortunate enough to catch a long
1352		-
1353		-339
1354		-00:19:26,970 ~-~-> 00:19:30,540
1355		-position at that key level, okay? And
1356		-
1357		-340
1358		-00:19:30,540 ~-~-> 00:19:32,970
1359		-it's not important that we have a
1360		-
1361		-341
1362		-00:19:33,480 ~-~-> 00:19:35,790
1363		-specific price level in this example.
1364		-
1365		-342
1366		-00:19:36,660 ~-~-> 00:19:38,490
1367		-Because really, what we're going to be
1368		-
1369		-343
1370		-00:19:38,490 ~-~-> 00:19:41,970
1371		-looking at is how traders are always in
1372		-
1373		-344
1374		-00:19:41,970 ~-~-> 00:19:44,220
1375		-my experience, okay, even when I was an
1376		-
1377		-345
1378		-00:19:44,220 ~-~-> 00:19:46,650
1379		-early developing trader, I felt the need
1380		-
1381		-346
1382		-00:19:46,650 ~-~-> 00:19:49,080
1383		-to want to exit the trade immediately.
1384		-
1385		-347
1386		-00:19:49,290 ~-~-> 00:19:52,140
1387		-As soon as I saw some gains, I had this
1388		-
1389		-348
1390		-00:19:52,140 ~-~-> 00:19:54,030
1391		-overwhelming feeling that I had to hurry
1392		-
1393		-349
1394		-00:19:54,030 ~-~-> 00:19:56,040
1395		-up and get out and close the trade. If I
1396		-
1397		-350
1398		-00:19:56,040 ~-~-> 00:19:58,170
1399		-was several hundred dollars, I would
1400		-
1401		-351
1402		-00:19:58,470 ~-~-> 00:20:00,750
1403		-think wow, this is good, you know? I've
1404		-
1405		-352
1406		-00:20:00,810 ~-~-> 00:20:03,750
1407		-taken losses in a series of losses, this
1408		-
1409		-353
1410		-00:20:03,750 ~-~-> 00:20:05,700
1411		-feels good. And I just would rather not
1412		-
1413		-354
1414		-00:20:05,700 ~-~-> 00:20:07,800
1415		-leave the market with another loss after
1416		-
1417		-355
1418		-00:20:07,800 ~-~-> 00:20:11,520
1419		-seeing these gains when you have a sound
1420		-
1421		-356
1422		-00:20:11,580 ~-~-> 00:20:15,360
1423		-entry, many times, those are the
1424		-
1425		-357
1426		-00:20:15,360 ~-~-> 00:20:17,940
1427		-scariest trades to hold on to. Okay?
1428		-
1429		-358
1430		-00:20:18,180 ~-~-> 00:20:21,450
1431		-Because the good trades don't spend
1432		-
1433		-359
1434		-00:20:21,600 ~-~-> 00:20:24,570
1435		-their time very long. at wholesale
1436		-
1437		-360
1438		-00:20:24,570 ~-~-> 00:20:26,640
1439		-prices, they immediately start to move
1440		-
1441		-361
1442		-00:20:26,640 ~-~-> 00:20:29,340
1443		-to retail level pricing, okay. In other
1444		-
1445		-362
1446		-00:20:29,340 ~-~-> 00:20:31,860
1447		-words, if you're able to catch a very
1448		-
1449		-363
1450		-00:20:31,860 ~-~-> 00:20:34,710
1451		-low price point, and you're long in the
1452		-
1453		-364
1454		-00:20:34,710 ~-~-> 00:20:37,320
1455		-marketplace, you anticipated
1456		-
1457		-365
1458		-00:20:37,320 ~-~-> 00:20:40,470
1459		-professional trader prices moving rather
1460		-
1461		-366
1462		-00:20:41,400 ~-~-> 00:20:43,590
1463		-aggressively away from that level. Okay.
1464		-
1465		-367
1466		-00:20:43,740 ~-~-> 00:20:45,150
1467		-And that's what we talked about earlier
1468		-
1469		-368
1470		-00:20:45,180 ~-~-> 00:20:48,660
1471		-in our series that the more conviction
1472		-
1473		-369
1474		-00:20:48,660 ~-~-> 00:20:50,460
1475		-that we see behind price moving away
1476		-
1477		-370
1478		-00:20:50,460 ~-~-> 00:20:52,080
1479		-from from a specific level that we
1480		-
1481		-371
1482		-00:20:52,110 ~-~-> 00:20:55,080
1483		-hopefully predetermined in advance, that
1484		-
1485		-372
1486		-00:20:55,170 ~-~-> 00:20:58,410
1487		-is what we would anticipate seeing in
1488		-
1489		-373
1490		-00:20:58,410 ~-~-> 00:20:59,970
1491		-our trades once we've entered it. We
1492		-
1493		-374
1494		-00:21:00,000 ~-~-> 00:21:02,490
1495		-Don't want to see the market dragon its
1496		-
1497		-375
1498		-00:21:02,490 ~-~-> 00:21:04,590
1499		-heels and, and lethargic Lee moving
1500		-
1501		-376
1502		-00:21:04,590 ~-~-> 00:21:07,440
1503		-around because we're going to be
1504		-
1505		-377
1506		-00:21:07,440 ~-~-> 00:21:10,650
1507		-mentioning time stops in this in this
1508		-
1509		-378
1510		-00:21:10,650 ~-~-> 00:21:12,150
1511		-episode too. I'm not going to beat it to
1512		-
1513		-379
1514		-00:21:12,150 ~-~-> 00:21:14,010
1515		-death but I do use a time stop and
1516		-
1517		-380
1518		-00:21:14,010 ~-~-> 00:21:15,210
1519		-I'll explain that as we get to that
1520		-
1521		-381
1522		-00:21:15,210 ~-~-> 00:21:17,760
1523		-point. But as the market starts to move
1524		-
1525		-382
1526		-00:21:17,760 ~-~-> 00:21:20,310
1527		-in our favor Okay, we will be reaching
1528		-
1529		-383
1530		-00:21:20,310 ~-~-> 00:21:23,040
1531		-for our predetermined price points like
1532		-
1533		-384
1534		-00:21:23,040 ~-~-> 00:21:25,950
1535		-we discussed in part five of the series
1536		-
1537		-385
1538		-00:21:25,950 ~-~-> 00:21:27,540
1539		-where we looked at a fib to give the
1540		-
1541		-386
1542		-00:21:27,540 ~-~-> 00:21:30,900
1543		-127 162 extensions as possible upside
1544		-
1545		-387
1546		-00:21:30,900 ~-~-> 00:21:33,240
1547		-objectives. Now again, those with
1548		-
1549		-388
1550		-00:21:33,240 ~-~-> 00:21:35,730
1551		-confluence of supporting factors with
1552		-
1553		-389
1554		-00:21:35,760 ~-~-> 00:21:37,410
1555		-support resistance, maybe even pivot
1556		-
1557		-390
1558		-00:21:37,410 ~-~-> 00:21:40,620
1559		-points, something like an old higher low
1560		-
1561		-391
1562		-00:21:40,890 ~-~-> 00:21:44,490
1563		-to to frame those upper level
1564		-
1565		-392
1566		-00:21:44,490 ~-~-> 00:21:46,230
1567		-objectives. Not simply because the fib
1568		-
1569		-393
1570		-00:21:46,230 ~-~-> 00:21:47,610
1571		-calls that level, we want to be looking
1572		-
1573		-394
1574		-00:21:47,610 ~-~-> 00:21:49,350
1575		-for other things as well. Again,
1576		-
1577		-395
1578		-00:21:49,740 ~-~-> 00:21:51,990
1579		-factoring the time and day of week
1580		-
1581		-396
1582		-00:21:52,020 ~-~-> 00:21:55,320
1583		-phenomenon as well. Now again, getting
1584		-
1585		-397
1586		-00:21:55,320 ~-~-> 00:21:56,940
1587		-back to this crude example as we have
1588		-
1589		-398
1590		-00:21:56,940 ~-~-> 00:21:59,460
1591		-here, when the market is now moving away
1592		-
1593		-399
1594		-00:21:59,460 ~-~-> 00:22:01,590
1595		-from your entry Point. Okay, one of the
1596		-
1597		-400
1598		-00:22:02,430 ~-~-> 00:22:07,140
1599		-closest things to insanity is when you
1600		-
1601		-401
1602		-00:22:07,140 ~-~-> 00:22:10,740
1603		-have this environment unfolding for you
1604		-
1605		-402
1606		-00:22:11,040 ~-~-> 00:22:14,610
1607		-profitably, okay? It's amazing how
1608		-
1609		-403
1610		-00:22:14,730 ~-~-> 00:22:17,730
1611		-traders and I knew this firsthand. Okay,
1612		-
1613		-404
1614		-00:22:17,970 ~-~-> 00:22:20,670
1615		-when I first began trading, I would hold
1616		-
1617		-405
1618		-00:22:20,670 ~-~-> 00:22:25,050
1619		-a losing trade for ever and for forever
1620		-
1621		-406
1622		-00:22:25,620 ~-~-> 00:22:29,280
1623		-and forever. And I'm sure you probably
1624		-
1625		-407
1626		-00:22:29,280 ~-~-> 00:22:30,780
1627		-felt that same thing too when you're
1628		-
1629		-408
1630		-00:22:30,780 ~-~-> 00:22:32,880
1631		-trading because you really want to see a
1632		-
1633		-409
1634		-00:22:32,880 ~-~-> 00:22:36,450
1635		-turnaround and hope springs eternal. Not
1636		-
1637		-410
1638		-00:22:36,450 ~-~-> 00:22:39,000
1639		-in forex, not in speculation and
1640		-
1641		-411
1642		-00:22:39,000 ~-~-> 00:22:41,430
1643		-certainly not in trading. Okay, so the
1644		-
1645		-412
1646		-00:22:41,430 ~-~-> 00:22:42,630
1647		-market doesn't have to go back to your
1648		-
1649		-413
1650		-00:22:42,630 ~-~-> 00:22:44,400
1651		-price point. Okay, if you look at the
1652		-
1653		-414
1654		-00:22:44,400 ~-~-> 00:22:46,950
1655		-Dow just look at anything from seven
1656		-
1657		-415
1658		-00:22:46,950 ~-~-> 00:22:48,840
1659		-months ago. It's been a losses as
1660		-
1661		-416
1662		-00:22:48,840 ~-~-> 00:22:51,210
1663		-impacted as levels. Okay. So if you've
1664		-
1665		-417
1666		-00:22:51,210 ~-~-> 00:22:53,370
1667		-been waiting for the market to get back
1668		-
1669		-418
1670		-00:22:53,370 ~-~-> 00:22:56,340
1671		-to those levels, man, you're going to
1672		-
1673		-419
1674		-00:22:56,340 ~-~-> 00:22:59,220
1675		-grind these pieces, okay? So don't do
1676		-
1677		-420
1678		-00:22:59,220 ~-~-> 00:23:00,840
1679		-that. Have a great day. determind area
1680		-
1681		-421
1682		-00:23:00,870 ~-~-> 00:23:02,670
1683		-where you would expect to cut your
1684		-
1685		-422
1686		-00:23:02,670 ~-~-> 00:23:06,720
1687		-losses short. Okay? What is the industry
1688		-
1689		-423
1690		-00:23:06,720 ~-~-> 00:23:09,540
1691		-standard for risk? Okay, you commonly
1692		-
1693		-424
1694		-00:23:09,540 ~-~-> 00:23:12,090
1695		-hear and I hear myself say all the time
1696		-
1697		-425
1698		-00:23:12,090 ~-~-> 00:23:14,040
1699		-in these videos, because I want to more
1700		-
1701		-426
1702		-00:23:14,040 ~-~-> 00:23:20,580
1703		-or less segue into the majority of
1704		-
1705		-427
1706		-00:23:20,580 ~-~-> 00:23:23,310
1707		-everyone's expectations analysis. But
1708		-
1709		-428
1710		-00:23:23,310 ~-~-> 00:23:25,350
1711		-really what I try to do is say, Okay,
1712		-
1713		-429
1714		-00:23:25,350 ~-~-> 00:23:27,900
1715		-look, everybody says 2% of your equity
1716		-
1717		-430
1718		-00:23:27,930 ~-~-> 00:23:30,210
1719		-portrayed. Okay? And if you're really,
1720		-
1721		-431
1722		-00:23:30,210 ~-~-> 00:23:31,620
1723		-really solid trader, there's nothing
1724		-
1725		-432
1726		-00:23:31,620 ~-~-> 00:23:34,740
1727		-wrong with that. Okay? Now I suggest
1728		-
1729		-433
1730		-00:23:34,740 ~-~-> 00:23:36,780
1731		-that traders should work within the
1732		-
1733		-434
1734		-00:23:36,780 ~-~-> 00:23:40,050
1735		-realm of 1% of their equity portrayed.
1736		-
1737		-435
1738		-00:23:41,370 ~-~-> 00:23:43,050
1739		-Now, the reason for that is assuming
1740		-
1741		-436
1742		-00:23:43,050 ~-~-> 00:23:45,300
1743		-that you had a $10,000 trading account,
1744		-
1745		-437
1746		-00:23:45,570 ~-~-> 00:23:47,790
1747		-and you were risking 1%, how much money
1748		-
1749		-438
1750		-00:23:47,790 ~-~-> 00:23:52,650
1751		-would be at risk portrayed $100 against
1752		-
1753		-439
1754		-00:23:52,980 ~-~-> 00:23:56,010
1755		-the standard 2%, which would be $200 per
1756		-
1757		-440
1758		-00:23:56,370 ~-~-> 00:23:58,920
1759		-trade total risk, the way you determine
1760		-
1761		-441
1762		-00:23:58,950 ~-~-> 00:24:01,830
1763		-your PIP sizes, you take that $200, if
1764		-
1765		-442
1766		-00:24:01,830 ~-~-> 00:24:05,970
1767		-it's 2%, or 1%, at $100 total risk of
1768		-
1769		-443
1770		-00:24:06,360 ~-~-> 00:24:08,250
1771		-assuming that you have a $10,000 trading
1772		-
1773		-444
1774		-00:24:08,250 ~-~-> 00:24:11,580
1775		-account. If it's a $1,000 trading
1776		-
1777		-445
1778		-00:24:11,580 ~-~-> 00:24:14,700
1779		-account, then it would be a $10 for 1%
1780		-
1781		-446
1782		-00:24:15,570 ~-~-> 00:24:21,030
1783		-or $20 for 2%, total equity risk per
1784		-
1785		-447
1786		-00:24:21,030 ~-~-> 00:24:23,400
1787		-trade, whatever that dollar amount is
1788		-
1789		-448
1790		-00:24:23,400 ~-~-> 00:24:26,040
1791		-percentage wise, whether it be 1% or 2%,
1792		-
1793		-449
1794		-00:24:26,070 ~-~-> 00:24:29,370
1795		-ideally 1% or less. Okay, and then I
1796		-
1797		-450
1798		-00:24:29,370 ~-~-> 00:24:31,020
1799		-know that probably sounds like wait, and
1800		-
1801		-451
1802		-00:24:31,020 ~-~-> 00:24:32,160
1803		-I can make a lot of money with that.
1804		-
1805		-452
1806		-00:24:32,700 ~-~-> 00:24:33,990
1807		-That's right. Because if you're just
1808		-
1809		-453
1810		-00:24:33,990 ~-~-> 00:24:35,340
1811		-starting out, you need to forget about
1812		-
1813		-454
1814		-00:24:35,340 ~-~-> 00:24:36,600
1815		-making a whole lot of money because
1816		-
1817		-455
1818		-00:24:36,600 ~-~-> 00:24:37,410
1819		-you're gonna have a whole lot of
1820		-
1821		-456
1822		-00:24:37,410 ~-~-> 00:24:39,990
1823		-learning to do. So assuming that you did
1824		-
1825		-457
1826		-00:24:39,990 ~-~-> 00:24:43,500
1827		-have a $10,000 account, okay, and you've
1828		-
1829		-458
1830		-00:24:43,530 ~-~-> 00:24:45,090
1831		-worked with smaller accounts, you've
1832		-
1833		-459
1834		-00:24:45,120 ~-~-> 00:24:47,940
1835		-proven to yourself that you could be
1836		-
1837		-460
1838		-00:24:48,090 ~-~-> 00:24:51,240
1839		-disciplined. You have a track record of
1840		-
1841		-461
1842		-00:24:51,240 ~-~-> 00:24:53,820
1843		-being consistent. You control your risk,
1844		-
1845		-462
1846		-00:24:54,240 ~-~-> 00:24:55,830
1847		-you limit your losses, you let your
1848		-
1849		-463
1850		-00:24:55,830 ~-~-> 00:24:58,440
1851		-profits run, and your target started
1852		-
1853		-464
1854		-00:24:58,440 ~-~-> 00:25:02,790
1855		-getting hit on more consistent basis you
1856		-
1857		-465
1858		-00:25:02,790 ~-~-> 00:25:06,750
1859		-have a risk of $100 per trade, which is
1860		-
1861		-466
1862		-00:25:06,750 ~-~-> 00:25:11,070
1863		-1% of $10,000. You take that $100 and
1864		-
1865		-467
1866		-00:25:11,070 ~-~-> 00:25:16,170
1867		-you divide that by the total pips. Okay
1868		-
1869		-468
1870		-00:25:16,200 ~-~-> 00:25:19,350
1871		-needed to justify your trade. Okay, and,
1872		-
1873		-469
1874		-00:25:19,770 ~-~-> 00:25:21,330
1875		-but the assumption that this is a daily
1876		-
1877		-470
1878		-00:25:21,330 ~-~-> 00:25:24,030
1879		-chart here, it could be very easily in
1880		-
1881		-471
1882		-00:25:24,030 ~-~-> 00:25:27,060
1883		-the realm of 100 pips or more, okay,
1884		-
1885		-472
1886		-00:25:27,060 ~-~-> 00:25:28,920
1887		-which would put you at very, very low
1888		-
1889		-473
1890		-00:25:30,240 ~-~-> 00:25:32,190
1891		-leverage for the trade, which really in
1892		-
1893		-474
1894		-00:25:32,190 ~-~-> 00:25:35,490
1895		-a way isn't that bad, but I know a lot
1896		-
1897		-475
1898		-00:25:35,490 ~-~-> 00:25:36,840
1899		-of you folks watching this really want
1900		-
1901		-476
1902		-00:25:36,840 ~-~-> 00:25:38,040
1903		-to have a little bit more bang for your
1904		-
1905		-477
1906		-00:25:38,040 ~-~-> 00:25:41,400
1907		-buck. So using the concepts we used in
1908		-
1909		-478
1910		-00:25:41,760 ~-~-> 00:25:44,190
1911		-earlier videos, if you move down to a
1912		-
1913		-479
1914		-00:25:44,190 ~-~-> 00:25:46,830
1915		-lower timeframe, you can reduce and
1916		-
1917		-480
1918		-00:25:46,860 ~-~-> 00:25:50,010
1919		-reduce your risk to less than 50 pips
1920		-
1921		-481
1922		-00:25:50,280 ~-~-> 00:25:54,960
1923		-anywhere between 3040 is about ideal, in
1924		-
1925		-482
1926		-00:25:54,960 ~-~-> 00:25:56,550
1927		-my opinion, because it allows the
1928		-
1929		-483
1930		-00:25:56,550 ~-~-> 00:25:57,870
1931		-developing trader to have a little bit
1932		-
1933		-484
1934		-00:25:57,870 ~-~-> 00:26:00,450
1935		-of a fudge factor where they They're not
1936		-
1937		-485
1938		-00:26:00,450 ~-~-> 00:26:03,090
1939		-expected to be so precise with their
1940		-
1941		-486
1942		-00:26:03,090 ~-~-> 00:26:04,650
1943		-stops, okay, and gives you a little bit
1944		-
1945		-487
1946		-00:26:04,650 ~-~-> 00:26:07,920
1947		-of flexibility because I know inherently
1948		-
1949		-488
1950		-00:26:07,920 ~-~-> 00:26:11,400
1951		-that traders will rush to entry. Or they
1952		-
1953		-489
1954		-00:26:11,400 ~-~-> 00:26:13,500
1955		-will look for confirmation in their eyes
1956		-
1957		-490
1958		-00:26:13,500 ~-~-> 00:26:15,540
1959		-quote unquote confirmation by letting
1960		-
1961		-491
1962		-00:26:15,540 ~-~-> 00:26:16,980
1963		-the trade start to move a little bit in
1964		-
1965		-492
1966		-00:26:16,980 ~-~-> 00:26:18,720
1967		-their favorite and then chase it but
1968		-
1969		-493
1970		-00:26:18,720 ~-~-> 00:26:20,550
1971		-very close to their entry price, but
1972		-
1973		-494
1974		-00:26:20,550 ~-~-> 00:26:23,340
1975		-still within the risk parameters as
1976		-
1977		-495
1978		-00:26:23,340 ~-~-> 00:26:25,680
1979		-permitted by their method or this
1980		-
1981		-496
1982		-00:26:25,800 ~-~-> 00:26:31,470
1983		-concept. So if you had that in mind,
1984		-
1985		-497
1986		-00:26:31,830 ~-~-> 00:26:36,480
1987		-okay, you could have basically $3 and 30
1988		-
1989		-498
1990		-00:26:36,480 ~-~-> 00:26:39,510
1991		-cents roughly, per PIP if you're trading
1992		-
1993		-499
1994		-00:26:39,780 ~-~-> 00:26:42,330
1995		-a $10,000 account with 1% risk using a
1996		-
1997		-500
1998		-00:26:42,330 ~-~-> 00:26:50,280
1999		-30. Pip stop, okay? The reason why the
2000		-
2001		-501
2002		-00:26:50,490 ~-~-> 00:26:52,860
2003		-industry standard is 2%. Sometimes you
2004		-
2005		-502
2006		-00:26:52,860 ~-~-> 00:26:56,490
2007		-hear in certain circles, you could risk
2008		-
2009		-503
2010		-00:26:56,520 ~-~-> 00:26:59,130
2011		-more than 2%. Okay, because that's what
2012		-
2013		-504
2014		-00:26:59,130 ~-~-> 00:27:00,330
2015		-the real traders And the real
2016		-
2017		-505
2018		-00:27:00,330 ~-~-> 00:27:02,580
2019		-professionals are doing, I can tell you,
2020		-
2021		-506
2022		-00:27:02,580 ~-~-> 00:27:04,110
2023		-the real professional traders aren't
2024		-
2025		-507
2026		-00:27:04,110 ~-~-> 00:27:06,150
2027		-doing that. Okay, they're not risking a
2028		-
2029		-508
2030		-00:27:06,150 ~-~-> 00:27:09,060
2031		-whole lot of their money. For disclosure
2032		-
2033		-509
2034		-00:27:09,060 ~-~-> 00:27:11,820
2035		-sake, I do risk as much as much as three
2036		-
2037		-510
2038		-00:27:11,820 ~-~-> 00:27:13,860
2039		-and a half percent. That means I'm
2040		-
2041		-511
2042		-00:27:13,860 ~-~-> 00:27:16,290
2043		-trading with the higher timeframe,
2044		-
2045		-512
2046		-00:27:16,560 ~-~-> 00:27:19,470
2047		-weekly, daily and four hour all in the
2048		-
2049		-513
2050		-00:27:19,470 ~-~-> 00:27:21,630
2051		-same direction. everything's lined up
2052		-
2053		-514
2054		-00:27:21,630 ~-~-> 00:27:25,170
2055		-with those three timeframes, and I have
2056		-
2057		-515
2058		-00:27:25,230 ~-~-> 00:27:28,320
2059		-a weekly bias that's in the same
2060		-
2061		-516
2062		-00:27:28,830 ~-~-> 00:27:32,430
2063		-direction. And that will allow me based
2064		-
2065		-517
2066		-00:27:32,430 ~-~-> 00:27:36,750
2067		-on my abilities and experience trading,
2068		-
2069		-518
2070		-00:27:37,080 ~-~-> 00:27:39,510
2071		-I will risk up to and it's not a whole
2072		-
2073		-519
2074		-00:27:39,510 ~-~-> 00:27:41,550
2075		-lot that it happens but up to three and
2076		-
2077		-520
2078		-00:27:41,550 ~-~-> 00:27:44,370
2079		-a half percent of my equity for one
2080		-
2081		-521
2082		-00:27:44,370 ~-~-> 00:27:47,580
2083		-trade. Typically, it'll be anywhere
2084		-
2085		-522
2086		-00:27:47,580 ~-~-> 00:27:49,860
2087		-between one and one and a half percent.
2088		-
2089		-523
2090		-00:27:50,550 ~-~-> 00:27:53,880
2091		-Because the timeframes aren't always
2092		-
2093		-524
2094		-00:27:53,880 ~-~-> 00:27:55,920
2095		-lined up like that you'll have a counter
2096		-
2097		-525
2098		-00:27:55,920 ~-~-> 00:27:57,750
2099		-trend move going against one of the
2100		-
2101		-526
2102		-00:27:57,750 ~-~-> 00:28:01,770
2103		-primary higher timeframe timezone not
2104		-
2105		-527
2106		-00:28:01,770 ~-~-> 00:28:04,680
2107		-time zones, the timeframe, the weekly,
2108		-
2109		-528
2110		-00:28:04,710 ~-~-> 00:28:08,040
2111		-daily and four hour. So if I'm trading
2112		-
2113		-529
2114		-00:28:08,040 ~-~-> 00:28:10,140
2115		-against that on a lower timeframe,
2116		-
2117		-530
2118		-00:28:10,470 ~-~-> 00:28:13,140
2119		-obviously one, one and a half percent is
2120		-
2121		-531
2122		-00:28:13,140 ~-~-> 00:28:18,000
2123		-a maximum. For sure. If I'm trading with
2124		-
2125		-532
2126		-00:28:18,000 ~-~-> 00:28:20,100
2127		-a daily and for our in the same
2128		-
2129		-533
2130		-00:28:20,100 ~-~-> 00:28:25,290
2131		-direction, I can be as much as 2% risk.
2132		-
2133		-534
2134		-00:28:26,940 ~-~-> 00:28:31,380
2135		-Now, how high is high? Okay? I think if
2136		-
2137		-535
2138		-00:28:31,380 ~-~-> 00:28:34,440
2139		-anybody's risking more than, you know,
2140		-
2141		-536
2142		-00:28:34,590 ~-~-> 00:28:36,990
2143		-obviously 3% unless you're really really
2144		-
2145		-537
2146		-00:28:36,990 ~-~-> 00:28:38,250
2147		-proficient, you really know what you're
2148		-
2149		-538
2150		-00:28:38,250 ~-~-> 00:28:41,550
2151		-doing. And you know how to turn your
2152		-
2153		-539
2154		-00:28:41,550 ~-~-> 00:28:45,060
2155		-equity losing string around. Because
2156		-
2157		-540
2158		-00:28:45,060 ~-~-> 00:28:46,590
2159		-it's not just one trade that you lose on
2160		-
2161		-541
2162		-00:28:46,590 ~-~-> 00:28:47,940
2163		-guy sometimes you get a couple of them
2164		-
2165		-542
2166		-00:28:47,940 ~-~-> 00:28:50,730
2167		-in a row. And even the best traders out
2168		-
2169		-543
2170		-00:28:50,730 ~-~-> 00:28:53,340
2171		-there will suffer that and have suffered
2172		-
2173		-544
2174		-00:28:53,340 ~-~-> 00:28:54,780
2175		-that regardless of what they tell you.
2176		-
2177		-545
2178		-00:28:55,620 ~-~-> 00:28:58,710
2179		-So assuming that's the case for you, and
2180		-
2181		-546
2182		-00:28:58,710 ~-~-> 00:29:01,110
2183		-you're human like everyone else You have
2184		-
2185		-547
2186		-00:29:01,110 ~-~-> 00:29:02,790
2187		-to have an idea of how to control that.
2188		-
2189		-548
2190		-00:29:03,180 ~-~-> 00:29:06,060
2191		-And the best way to do it is reducing
2192		-
2193		-549
2194		-00:29:06,060 ~-~-> 00:29:07,770
2195		-your overall exposure as you take
2196		-
2197		-550
2198		-00:29:07,770 ~-~-> 00:29:10,440
2199		-losses. Okay? And I'll give an example.
2200		-
2201		-551
2202		-00:29:10,440 ~-~-> 00:29:11,850
2203		-Let's assume for a moment you settled in
2204		-
2205		-552
2206		-00:29:11,880 ~-~-> 00:29:14,850
2207		-on the idea of taking 2% portrayed. If
2208		-
2209		-553
2210		-00:29:14,850 ~-~-> 00:29:17,280
2211		-you take a loss, you've lost 2% of
2212		-
2213		-554
2214		-00:29:17,280 ~-~-> 00:29:20,190
2215		-equity. Okay, now, if you'd risk 2% of
2216		-
2217		-555
2218		-00:29:20,190 ~-~-> 00:29:21,990
2219		-the next trade again, thinking that
2220		-
2221		-556
2222		-00:29:21,990 ~-~-> 00:29:23,340
2223		-well, if I make the same amount of money
2224		-
2225		-557
2226		-00:29:23,340 ~-~-> 00:29:25,350
2227		-I lost on my previous trade, I'll get
2228		-
2229		-558
2230		-00:29:25,350 ~-~-> 00:29:28,380
2231		-back to even that's where the cycle
2232		-
2233		-559
2234		-00:29:28,380 ~-~-> 00:29:32,820
2235		-begins. Okay. You want to get back to
2236		-
2237		-560
2238		-00:29:32,820 ~-~-> 00:29:35,880
2239		-that previous equity level that
2240		-
2241		-561
2242		-00:29:35,880 ~-~-> 00:29:37,740
2243		-milestone that marker, okay, that
2244		-
2245		-562
2246		-00:29:37,740 ~-~-> 00:29:41,190
2247		-comfort zone, internally as a trader,
2248		-
2249		-563
2250		-00:29:41,610 ~-~-> 00:29:44,910
2251		-and that's not a good game to play.
2252		-
2253		-564
2254		-00:29:45,180 ~-~-> 00:29:46,890
2255		-Okay. And what happens is, is you're
2256		-
2257		-565
2258		-00:29:46,890 ~-~-> 00:29:48,990
2259		-actually inviting more emotional
2260		-
2261		-566
2262		-00:29:49,050 ~-~-> 00:29:51,870
2263		-response and triggers into your trading
2264		-
2265		-567
2266		-00:29:51,930 ~-~-> 00:29:56,040
2267		-than you should have. Okay? And by
2268		-
2269		-568
2270		-00:29:56,550 ~-~-> 00:29:58,860
2271		-systematically methodically reducing
2272		-
2273		-569
2274		-00:29:58,860 ~-~-> 00:30:01,260
2275		-your risk in half Okay, for instance, if
2276		-
2277		-570
2278		-00:30:01,260 ~-~-> 00:30:04,380
2279		-you take a loss at 2%, you only risk 1%.
2280		-
2281		-571
2282		-00:30:04,410 ~-~-> 00:30:07,140
2283		-Next trade, it may take you two or three
2284		-
2285		-572
2286		-00:30:07,140 ~-~-> 00:30:08,670
2287		-trades to get back to that previous mile
2288		-
2289		-573
2290		-00:30:08,670 ~-~-> 00:30:11,580
2291		-marker. But guess what it's doing. It's
2292		-
2293		-574
2294		-00:30:11,580 ~-~-> 00:30:13,830
2295		-removing the rush factor to get back to
2296		-
2297		-575
2298		-00:30:13,830 ~-~-> 00:30:15,690
2299		-that point. And it's honing your
2300		-
2301		-576
2302		-00:30:15,690 ~-~-> 00:30:19,170
2303		-patience with the added benefit of
2304		-
2305		-577
2306		-00:30:19,260 ~-~-> 00:30:21,450
2307		-lowering your overall exposure exposure
2308		-
2309		-578
2310		-00:30:21,450 ~-~-> 00:30:23,340
2311		-to the marketplace. Now think about
2312		-
2313		-579
2314		-00:30:23,430 ~-~-> 00:30:25,200
2315		-you're in a losing
2316		-
2317		-580
2318		-00:30:27,660 ~-~-> 00:30:29,880
2319		-environment where you've had suffered a
2320		-
2321		-581
2322		-00:30:29,880 ~-~-> 00:30:32,550
2323		-loss for a developing trader that is
2324		-
2325		-582
2326		-00:30:32,550 ~-~-> 00:30:35,520
2327		-very, very hard to swallow, regardless
2328		-
2329		-583
2330		-00:30:35,520 ~-~-> 00:30:36,960
2331		-if it's a demo account or not, because
2332		-
2333		-584
2334		-00:30:37,290 ~-~-> 00:30:39,420
2335		-you are still working within the realm
2336		-
2337		-585
2338		-00:30:39,420 ~-~-> 00:30:41,580
2339		-of psychological and emotional barriers
2340		-
2341		-586
2342		-00:30:41,580 ~-~-> 00:30:43,410
2343		-that you simply don't understand until
2344		-
2345		-587
2346		-00:30:43,710 ~-~-> 00:30:45,420
2347		-you've traded through it or you've
2348		-
2349		-588
2350		-00:30:45,420 ~-~-> 00:30:47,040
2351		-experienced it and said, This isn't for
2352		-
2353		-589
2354		-00:30:47,040 ~-~-> 00:30:48,990
2355		-me and I, you know, leave the market all
2356		-
2357		-590
2358		-00:30:48,990 ~-~-> 00:30:51,030
2359		-together. And there's nothing wrong with
2360		-
2361		-591
2362		-00:30:51,030 ~-~-> 00:30:52,200
2363		-that because trading is not for
2364		-
2365		-592
2366		-00:30:52,200 ~-~-> 00:30:55,260
2367		-everyone. And it would be irresponsible
2368		-
2369		-593
2370		-00:30:55,260 ~-~-> 00:30:57,660
2371		-of me as a mentor. To not at least
2372		-
2373		-594
2374		-00:30:57,660 ~-~-> 00:31:00,570
2375		-suggest that to some of you because If
2376		-
2377		-595
2378		-00:31:01,440 ~-~-> 00:31:03,690
2379		-you can't wrap your mind around doing
2380		-
2381		-596
2382		-00:31:03,690 ~-~-> 00:31:05,940
2383		-this and assuming some level of risk,
2384		-
2385		-597
2386		-00:31:06,390 ~-~-> 00:31:09,930
2387		-this is absolutely not your cup of tea.
2388		-
2389		-598
2390		-00:31:10,170 ~-~-> 00:31:12,420
2391		-Okay? And that's one thing you can
2392		-
2393		-599
2394		-00:31:12,450 ~-~-> 00:31:15,060
2395		-guarantee coming from me as you the
2396		-
2397		-600
2398		-00:31:15,060 ~-~-> 00:31:18,630
2399		-gospel. Not everyone on the planet is
2400		-
2401		-601
2402		-00:31:18,630 ~-~-> 00:31:21,120
2403		-meant to do this. And it takes a certain
2404		-
2405		-602
2406		-00:31:21,120 ~-~-> 00:31:24,300
2407		-level of commitment and tenacity to
2408		-
2409		-603
2410		-00:31:24,300 ~-~-> 00:31:27,480
2411		-stick within a realm of rules. And
2412		-
2413		-604
2414		-00:31:27,780 ~-~-> 00:31:30,270
2415		-humans are typically very good Rule
2416		-
2417		-605
2418		-00:31:30,270 ~-~-> 00:31:32,040
2419		-Breakers we don't like to you know,
2420		-
2421		-606
2422		-00:31:32,040 ~-~-> 00:31:34,590
2423		-follow the rules. And just think about
2424		-
2425		-607
2426		-00:31:34,590 ~-~-> 00:31:36,000
2427		-if you walk down the street in a well
2428		-
2429		-608
2430		-00:31:36,000 ~-~-> 00:31:37,230
2431		-groomed neighborhood and you see a
2432		-
2433		-609
2434		-00:31:37,230 ~-~-> 00:31:38,610
2435		-science says don't step on the grass
2436		-
2437		-610
2438		-00:31:38,610 ~-~-> 00:31:39,870
2439		-what's the first thing you want to do?
2440		-
2441		-611
2442		-00:31:40,560 ~-~-> 00:31:43,080
2443		-Step on the grass. Just look at a kid
2444		-
2445		-612
2446		-00:31:43,080 ~-~-> 00:31:44,430
2447		-that's what they're gonna do. You know,
2448		-
2449		-613
2450		-00:31:44,790 ~-~-> 00:31:47,820
2451		-I made so many jokes as my children were
2452		-
2453		-614
2454		-00:31:47,820 ~-~-> 00:31:49,800
2455		-growing up that they were like heat
2456		-
2457		-615
2458		-00:31:49,800 ~-~-> 00:31:51,450
2459		-seeking missiles, okay, we we get new
2460		-
2461		-616
2462		-00:31:51,450 ~-~-> 00:31:54,420
2463		-carpet in the home. And you know a wife
2464		-
2465		-617
2466		-00:31:54,420 ~-~-> 00:31:55,680
2467		-or a guest would come over and
2468		-
2469		-618
2470		-00:31:55,680 ~-~-> 00:31:57,750
2471		-invariably have their their drink with
2472		-
2473		-619
2474		-00:31:57,750 ~-~-> 00:32:00,330
2475		-them and in our dining area, or or
2476		-
2477		-620
2478		-00:32:00,450 ~-~-> 00:32:03,210
2479		-losing room or family room, and our
2480		-
2481		-621
2482		-00:32:03,210 ~-~-> 00:32:04,980
2483		-children would come in and being kids,
2484		-
2485		-622
2486		-00:32:04,980 ~-~-> 00:32:06,330
2487		-they would rough house, you know, just
2488		-
2489		-623
2490		-00:32:06,330 ~-~-> 00:32:10,230
2491		-for a second and they won't fall away
2492		-
2493		-624
2494		-00:32:10,230 ~-~-> 00:32:12,720
2495		-from tables or fall away from the
2496		-
2497		-625
2498		-00:32:12,900 ~-~-> 00:32:14,760
2499		-person, the only person in the room with
2500		-
2501		-626
2502		-00:32:14,760 ~-~-> 00:32:17,340
2503		-the drink, they fall and land either on
2504		-
2505		-627
2506		-00:32:17,340 ~-~-> 00:32:19,020
2507		-the drink or into the person that drops
2508		-
2509		-628
2510		-00:32:19,020 ~-~-> 00:32:21,690
2511		-and goes all over the white carpet or at
2512		-
2513		-629
2514		-00:32:21,690 ~-~-> 00:32:23,460
2515		-the time, you know, we have a very light
2516		-
2517		-630
2518		-00:32:23,460 ~-~-> 00:32:27,240
2519		-colored tan carpet and they drink, you
2520		-
2521		-631
2522		-00:32:27,900 ~-~-> 00:32:29,700
2523		-cause havoc on it, we had to get it
2524		-
2525		-632
2526		-00:32:29,700 ~-~-> 00:32:32,010
2527		-cleaned. So those things are going to
2528		-
2529		-633
2530		-00:32:32,010 ~-~-> 00:32:34,110
2531		-happen. So you have to prepare for it.
2532		-
2533		-634
2534		-00:32:35,070 ~-~-> 00:32:37,560
2535		-So you're going to have that in your
2536		-
2537		-635
2538		-00:32:37,560 ~-~-> 00:32:40,320
2539		-trading with wanting to do something you
2540		-
2541		-636
2542		-00:32:40,350 ~-~-> 00:32:42,720
2543		-shouldn't do. And you're going to have
2544		-
2545		-637
2546		-00:32:43,050 ~-~-> 00:32:45,150
2547		-that Murphy's Law scenario as well. What
2548		-
2549		-638
2550		-00:32:45,180 ~-~-> 00:32:47,460
2551		-can go wrong, probably will go wrong.
2552		-
2553		-639
2554		-00:32:47,610 ~-~-> 00:32:49,830
2555		-Okay. So you have to have that that
2556		-
2557		-640
2558		-00:32:49,830 ~-~-> 00:32:51,660
2559		-shield up in your defense and that's
2560		-
2561		-641
2562		-00:32:51,690 ~-~-> 00:32:53,310
2563		-only going to come in the form of you
2564		-
2565		-642
2566		-00:32:53,610 ~-~-> 00:32:55,710
2567		-controlling your equity. Okay, and if
2568		-
2569		-643
2570		-00:32:55,710 ~-~-> 00:32:58,440
2571		-you take a loss, don't be afraid to cut
2572		-
2573		-644
2574		-00:32:58,440 ~-~-> 00:33:00,480
2575		-your risk on the next trade. And if you
2576		-
2577		-645
2578		-00:33:00,480 ~-~-> 00:33:02,640
2579		-had to do that continuously down to a
2580		-
2581		-646
2582		-00:33:02,640 ~-~-> 00:33:05,550
2583		-half percent total risk of your equity,
2584		-
2585		-647
2586		-00:33:06,150 ~-~-> 00:33:07,470
2587		-that's fine. There's nothing wrong with
2588		-
2589		-648
2590		-00:33:07,470 ~-~-> 00:33:11,730
2591		-that. Okay? Remove from your mind right
2592		-
2593		-649
2594		-00:33:11,730 ~-~-> 00:33:13,170
2595		-now that you want to make millions of
2596		-
2597		-650
2598		-00:33:13,170 ~-~-> 00:33:16,080
2599		-dollars right now, okay? Because that is
2600		-
2601		-651
2602		-00:33:16,080 ~-~-> 00:33:18,090
2603		-the wrong perspective going in. There's
2604		-
2605		-652
2606		-00:33:18,090 ~-~-> 00:33:19,620
2607		-nothing wrong with having goals of doing
2608		-
2609		-653
2610		-00:33:19,620 ~-~-> 00:33:22,380
2611		-that. But initially, you have to take
2612		-
2613		-654
2614		-00:33:22,380 ~-~-> 00:33:25,080
2615		-the bite first, okay, and chew the
2616		-
2617		-655
2618		-00:33:25,080 ~-~-> 00:33:27,030
2619		-elephant, one bite at a time. You just
2620		-
2621		-656
2622		-00:33:27,030 ~-~-> 00:33:28,350
2623		-can't go in and try to swallow it all at
2624		-
2625		-657
2626		-00:33:28,350 ~-~-> 00:33:31,770
2627		-once because you'll choke. So with that
2628		-
2629		-658
2630		-00:33:31,770 ~-~-> 00:33:34,350
2631		-in mind, okay, once these moves start to
2632		-
2633		-659
2634		-00:33:34,350 ~-~-> 00:33:37,590
2635		-move in your favor, okay, you obviously
2636		-
2637		-660
2638		-00:33:37,590 ~-~-> 00:33:40,380
2639		-want to be able to remove the risk,
2640		-
2641		-661
2642		-00:33:40,710 ~-~-> 00:33:45,660
2643		-okay? And, at least during the move in
2644		-
2645		-662
2646		-00:33:45,660 ~-~-> 00:33:47,310
2647		-trading in your favor, you want to be
2648		-
2649		-663
2650		-00:33:47,310 ~-~-> 00:33:49,560
2651		-removing a little bit of the risk
2652		-
2653		-664
2654		-00:33:49,830 ~-~-> 00:33:51,210
2655		-methodically until you get to the point
2656		-
2657		-665
2658		-00:33:51,210 ~-~-> 00:33:53,490
2659		-where you have zero risk or, quote
2660		-
2661		-666
2662		-00:33:53,490 ~-~-> 00:33:55,770
2663		-unquote, no risk exposure. Okay,
2664		-
2665		-667
2666		-00:33:55,770 ~-~-> 00:33:56,850
2667		-obviously anything can happen in
2668		-
2669		-668
2670		-00:33:56,850 ~-~-> 00:33:58,500
2671		-marketplace. You know, something can
2672		-
2673		-669
2674		-00:33:58,500 ~-~-> 00:34:01,230
2675		-happen in markets. gap because of, you
2676		-
2677		-670
2678		-00:34:01,230 ~-~-> 00:34:03,210
2679		-know, terrorist event or something
2680		-
2681		-671
2682		-00:34:03,240 ~-~-> 00:34:05,580
2683		-unexpected in, in the Fed or whatever.
2684		-
2685		-672
2686		-00:34:05,820 ~-~-> 00:34:07,320
2687		-And there'll be a massive movement and
2688		-
2689		-673
2690		-00:34:07,320 ~-~-> 00:34:09,720
2691		-your your stop loss experiences
2692		-
2693		-674
2694		-00:34:09,720 ~-~-> 00:34:12,240
2695		-slippage. These are all things we
2696		-
2697		-675
2698		-00:34:12,240 ~-~-> 00:34:13,650
2699		-understood when we signed up for this
2700		-
2701		-676
2702		-00:34:13,650 ~-~-> 00:34:16,020
2703		-game. So, bottom line is, is it can
2704		-
2705		-677
2706		-00:34:16,020 ~-~-> 00:34:17,760
2707		-happen, prepare yourself for it because
2708		-
2709		-678
2710		-00:34:17,760 ~-~-> 00:34:19,380
2711		-you're going to take losses. And if you
2712		-
2713		-679
2714		-00:34:19,380 ~-~-> 00:34:20,580
2715		-trade of any length of time, you're
2716		-
2717		-680
2718		-00:34:20,580 ~-~-> 00:34:23,130
2719		-gonna have a lot of losses, okay? And
2720		-
2721		-681
2722		-00:34:23,130 ~-~-> 00:34:24,360
2723		-there's certainly nothing wrong with it.
2724		-
2725		-682
2726		-00:34:24,420 ~-~-> 00:34:27,570
2727		-It's a cost of doing business. Every
2728		-
2729		-683
2730		-00:34:27,570 ~-~-> 00:34:29,130
2731		-successful business out there takes a
2732		-
2733		-684
2734		-00:34:29,130 ~-~-> 00:34:31,710
2735		-loss of some sort, but you don't see
2736		-
2737		-685
2738		-00:34:31,710 ~-~-> 00:34:34,080
2739		-those businesses collectively going out
2740		-
2741		-686
2742		-00:34:34,080 ~-~-> 00:34:37,290
2743		-of business. Okay, they, they, they
2744		-
2745		-687
2746		-00:34:37,290 ~-~-> 00:34:40,410
2747		-trim, they put things you know, up for
2748		-
2749		-688
2750		-00:34:40,410 ~-~-> 00:34:41,760
2751		-sale, just to get rid of inventories
2752		-
2753		-689
2754		-00:34:41,760 ~-~-> 00:34:43,470
2755		-ain't moving real fast, and they bring
2756		-
2757		-690
2758		-00:34:43,470 ~-~-> 00:34:45,120
2759		-in you the better movers, okay. And
2760		-
2761		-691
2762		-00:34:45,120 ~-~-> 00:34:46,710
2763		-that's what you do for your trading. If
2764		-
2765		-692
2766		-00:34:46,710 ~-~-> 00:34:48,270
2767		-your trades aren't really panning out,
2768		-
2769		-693
2770		-00:34:48,330 ~-~-> 00:34:52,170
2771		-yeah. Cut the losses short, okay, or the
2772		-
2773		-694
2774		-00:34:52,200 ~-~-> 00:34:53,880
2775		-meals that aren't really moving. You
2776		-
2777		-695
2778		-00:34:53,880 ~-~-> 00:34:56,400
2779		-just get rid of them. And then you keep
2780		-
2781		-696
2782		-00:34:56,400 ~-~-> 00:34:57,690
2783		-your powder dry waiting for the next
2784		-
2785		-697
2786		-00:34:57,690 ~-~-> 00:35:01,290
2787		-setup. If you do that Okay, if you do
2788		-
2789		-698
2790		-00:35:01,290 ~-~-> 00:35:03,660
2791		-that, I think you'll see a more
2792		-
2793		-699
2794		-00:35:03,660 ~-~-> 00:35:07,320
2795		-streamlined increase in your equity. And
2796		-
2797		-700
2798		-00:35:07,320 ~-~-> 00:35:09,120
2799		-I think you'll remove a lot of that
2800		-
2801		-701
2802		-00:35:09,120 ~-~-> 00:35:12,150
2803		-whipsaw you possibly have been seeing in
2804		-
2805		-702
2806		-00:35:12,150 ~-~-> 00:35:14,700
2807		-your equity curve on your beginning
2808		-
2809		-703
2810		-00:35:14,700 ~-~-> 00:35:15,900
2811		-balance and where you're at now.
2812		-
2813		-704
2814		-00:35:18,210 ~-~-> 00:35:23,340
2815		-time stops, okay, I have a premise that
2816		-
2817		-705
2818		-00:35:23,370 ~-~-> 00:35:25,950
2819		-if the move doesn't start, if I'm if I'm
2820		-
2821		-706
2822		-00:35:25,950 ~-~-> 00:35:27,960
2823		-trading off of a daily timeframe, and it
2824		-
2825		-707
2826		-00:35:27,960 ~-~-> 00:35:29,550
2827		-really doesn't start to move in my favor
2828		-
2829		-708
2830		-00:35:29,550 ~-~-> 00:35:33,510
2831		-after three days, okay? I'm aggressively
2832		-
2833		-709
2834		-00:35:33,510 ~-~-> 00:35:36,840
2835		-either removing the risk if possible, or
2836		-
2837		-710
2838		-00:35:37,050 ~-~-> 00:35:39,390
2839		-I'm taking half the position off, okay,
2840		-
2841		-711
2842		-00:35:39,390 ~-~-> 00:35:41,760
2843		-and I'm watching my six. The military
2844		-
2845		-712
2846		-00:35:41,760 ~-~-> 00:35:43,080
2847		-has an expression that you know,
2848		-
2849		-713
2850		-00:35:43,080 ~-~-> 00:35:44,520
2851		-wherever you're pointing your rifle,
2852		-
2853		-714
2854		-00:35:44,700 ~-~-> 00:35:46,320
2855		-okay, or a firearm in front of you.
2856		-
2857		-715
2858		-00:35:46,650 ~-~-> 00:35:49,230
2859		-That's 12 o'clock. Your six is behind
2860		-
2861		-716
2862		-00:35:49,230 ~-~-> 00:35:52,320
2863		-you. Okay, or watch your ass. Okay. What
2864		-
2865		-717
2866		-00:35:52,320 ~-~-> 00:35:54,060
2867		-you're looking at in the marketplace.
2868		-
2869		-718
2870		-00:35:54,060 ~-~-> 00:35:57,090
2871		-When you see a trade, it isn't moving in
2872		-
2873		-719
2874		-00:35:57,090 ~-~-> 00:35:59,670
2875		-your favor. Right away. And I think
2876		-
2877		-720
2878		-00:35:59,670 ~-~-> 00:36:01,890
2879		-three days is enough time, if it's still
2880		-
2881		-721
2882		-00:36:01,890 ~-~-> 00:36:03,480
2883		-consolidating or still him hauling
2884		-
2885		-722
2886		-00:36:03,480 ~-~-> 00:36:06,180
2887		-around not really moving, I'm looking to
2888		-
2889		-723
2890		-00:36:06,180 ~-~-> 00:36:07,740
2891		-either take half the position off and
2892		-
2893		-724
2894		-00:36:07,740 ~-~-> 00:36:10,260
2895		-move my main position to either
2896		-
2897		-725
2898		-00:36:10,260 ~-~-> 00:36:13,230
2899		-breakeven or aggressively take it to
2900		-
2901		-726
2902		-00:36:13,230 ~-~-> 00:36:15,330
2903		-half the initial risk, or even a quarter
2904		-
2905		-727
2906		-00:36:15,330 ~-~-> 00:36:18,450
2907		-of the initial risk. Okay, so maybe like
2908		-
2909		-728
2910		-00:36:18,450 ~-~-> 00:36:20,220
2911		-the overall setup that still might be
2912		-
2913		-729
2914		-00:36:20,220 ~-~-> 00:36:22,440
2915		-there, but it could be iffy, you just
2916		-
2917		-730
2918		-00:36:22,440 ~-~-> 00:36:24,720
2919		-watch your six, take your position and
2920		-
2921		-731
2922		-00:36:24,720 ~-~-> 00:36:27,270
2923		-cut it in half, remove aggressively half
2924		-
2925		-732
2926		-00:36:27,270 ~-~-> 00:36:29,490
2927		-the initial risk, if possible, or at
2928		-
2929		-733
2930		-00:36:29,490 ~-~-> 00:36:32,130
2931		-least reduce it down to a quarter of the
2932		-
2933		-734
2934		-00:36:32,130 ~-~-> 00:36:33,990
2935		-initial risk on the remaining half
2936		-
2937		-735
2938		-00:36:33,990 ~-~-> 00:36:38,700
2939		-positions you leave on or simply bail
2940		-
2941		-736
2942		-00:36:38,700 ~-~-> 00:36:41,310
2943		-out. Just collapse the trade. Okay, and
2944		-
2945		-737
2946		-00:36:41,310 ~-~-> 00:36:42,900
2947		-if you're underwater just by you know, a
2948		-
2949		-738
2950		-00:36:42,900 ~-~-> 00:36:45,540
2951		-few pips So what, you know, if you're
2952		-
2953		-739
2954		-00:36:45,540 ~-~-> 00:36:47,670
2955		-risking 30 and you're down 19 and you
2956		-
2957		-740
2958		-00:36:47,670 ~-~-> 00:36:49,770
2959		-just see that it's really not moving.
2960		-
2961		-741
2962		-00:36:50,100 ~-~-> 00:36:53,130
2963		-And you go on until Friday, perhaps as
2964		-
2965		-742
2966		-00:36:53,130 ~-~-> 00:36:54,510
2967		-the worst scenario for me, I will
2968		-
2969		-743
2970		-00:36:54,510 ~-~-> 00:36:56,490
2971		-collapse it and just take whatever that
2972		-
2973		-744
2974		-00:36:56,490 ~-~-> 00:37:01,290
2975		-is, as a you know, some modest loss No,
2976		-
2977		-745
2978		-00:37:01,290 ~-~-> 00:37:02,970
2979		-you didn't get stopped out? No, you
2980		-
2981		-746
2982		-00:37:02,970 ~-~-> 00:37:04,410
2983		-didn't get any of your targets, but
2984		-
2985		-747
2986		-00:37:04,440 ~-~-> 00:37:06,480
2987		-you're getting rid of getting rid of the
2988		-
2989		-748
2990		-00:37:06,480 ~-~-> 00:37:09,810
2991		-dog or you getting rid of the slow
2992		-
2993		-749
2994		-00:37:09,810 ~-~-> 00:37:11,340
2995		-moving inventory and you want to get
2996		-
2997		-750
2998		-00:37:11,340 ~-~-> 00:37:14,850
2999		-another, hopefully more opportune setup
3000		-
3001		-751
3002		-00:37:15,420 ~-~-> 00:37:17,160
3003		-with your equity behind it. So that way
3004		-
3005		-752
3006		-00:37:17,160 ~-~-> 00:37:18,810
3007		-you can recoup that. And if you do that,
3008		-
3009		-753
3010		-00:37:18,900 ~-~-> 00:37:21,690
3011		-you systematically find that all those
3012		-
3013		-754
3014		-00:37:21,690 ~-~-> 00:37:24,510
3015		-little tiny scratches immediately get
3016		-
3017		-755
3018		-00:37:24,510 ~-~-> 00:37:27,030
3019		-smoothed out quickly with you move in my
3020		-
3021		-756
3022		-00:37:27,030 ~-~-> 00:37:31,560
3023		-equity into a better more sound setup.
3024		-
3025		-757
3026		-00:37:32,850 ~-~-> 00:37:35,070
3027		-So timestamps is something that you to
3028		-
3029		-758
3030		-00:37:35,070 ~-~-> 00:37:37,020
3031		-me, I think, is beneficial. It's a
3032		-
3033		-759
3034		-00:37:37,020 ~-~-> 00:37:39,300
3035		-little bit of an art to it. But I break
3036		-
3037		-760
3038		-00:37:39,300 ~-~-> 00:37:40,830
3039		-it down like this. If it's going to be a
3040		-
3041		-761
3042		-00:37:40,830 ~-~-> 00:37:42,810
3043		-trade it's based off with daily setup. I
3044		-
3045		-762
3046		-00:37:42,810 ~-~-> 00:37:45,390
3047		-give it about three days. And if I'm
3048		-
3049		-763
3050		-00:37:45,390 ~-~-> 00:37:48,090
3051		-trading off of a four hour, I'm really
3052		-
3053		-764
3054		-00:37:48,150 ~-~-> 00:37:51,660
3055		-giving it about one day, and one hour
3056		-
3057		-765
3058		-00:37:51,660 ~-~-> 00:37:55,110
3059		-chart is I'm giving it two sessions
3060		-
3061		-766
3062		-00:37:55,110 ~-~-> 00:37:57,480
3063		-tops, okay. Ideally either the London or
3064		-
3065		-767
3066		-00:37:57,810 ~-~-> 00:37:59,220
3067		-New York session if it hasn't moved by
3068		-
3069		-768
3070		-00:37:59,220 ~-~-> 00:38:01,740
3071		-then you know it on an hourly basis, I'm
3072		-
3073		-769
3074		-00:38:01,740 ~-~-> 00:38:04,230
3075		-really looking to reduce the risk and or
3076		-
3077		-770
3078		-00:38:04,440 ~-~-> 00:38:07,320
3079		-collapse it. And anything less than
3080		-
3081		-771
3082		-00:38:07,320 ~-~-> 00:38:09,210
3083		-that. I really don't have a timestamp
3084		-
3085		-772
3086		-00:38:09,210 ~-~-> 00:38:11,190
3087		-for on outside of the intraday
3088		-
3089		-773
3090		-00:38:11,190 ~-~-> 00:38:13,740
3091		-timeframes of London to London close
3092		-
3093		-774
3094		-00:38:13,860 ~-~-> 00:38:17,550
3095		-when open to London close rather. So
3096		-
3097		-775
3098		-00:38:17,580 ~-~-> 00:38:19,290
3099		-assuming obviously that we have our
3100		-
3101		-776
3102		-00:38:19,350 ~-~-> 00:38:21,060
3103		-scenario that unfolded here,
3104		-
3105		-777
3106		-00:38:21,450 ~-~-> 00:38:24,780
3107		-hypothetically, and we suggesting a we
3108		-
3109		-778
3110		-00:38:24,930 ~-~-> 00:38:27,750
3111		-bought long in this market, whatever
3112		-
3113		-779
3114		-00:38:27,750 ~-~-> 00:38:29,940
3115		-that market may be, we'll just say this
3116		-
3117		-780
3118		-00:38:29,940 ~-~-> 00:38:33,270
3119		-is the euro. And the market starts to
3120		-
3121		-781
3122		-00:38:33,270 ~-~-> 00:38:35,130
3123		-move in our favor. So we have some some
3124		-
3125		-782
3126		-00:38:35,130 ~-~-> 00:38:37,770
3127		-paper profits right now. Our stops are
3128		-
3129		-783
3130		-00:38:37,770 ~-~-> 00:38:40,500
3131		-still at initial 30% I'm sorry, 30 pips.
3132		-
3133		-784
3134		-00:38:41,760 ~-~-> 00:38:44,820
3135		-And we have not yet made our first
3136		-
3137		-785
3138		-00:38:46,110 ~-~-> 00:38:48,540
3139		-profit objective. So what do we do?
3140		-
3141		-786
3142		-00:38:48,780 ~-~-> 00:38:51,090
3143		-Well, you want to be systematically
3144		-
3145		-787
3146		-00:38:51,090 ~-~-> 00:38:53,460
3147		-reducing your risk. If you started with
3148		-
3149		-788
3150		-00:38:53,550 ~-~-> 00:38:56,040
3151		-a 30 PIP stop, move it down to only 20
3152		-
3153		-789
3154		-00:38:56,040 ~-~-> 00:38:58,350
3155		-pips, and as the market moves and takes
3156		-
3157		-790
3158		-00:38:58,350 ~-~-> 00:39:01,440
3159		-out your first target Take your stop
3160		-
3161		-791
3162		-00:39:01,440 ~-~-> 00:39:04,680
3163		-loss, move it to only 10% risk. Okay?
3164		-
3165		-792
3166		-00:39:04,920 ~-~-> 00:39:06,450
3167		-And as it moves, it starts approaching
3168		-
3169		-793
3170		-00:39:06,450 ~-~-> 00:39:09,030
3171		-your second target. That's when you go
3172		-
3173		-794
3174		-00:39:09,030 ~-~-> 00:39:13,170
3175		-to break even. Okay? You do not rush
3176		-
3177		-795
3178		-00:39:13,200 ~-~-> 00:39:15,390
3179		-your stop trailing. Okay, this is one of
3180		-
3181		-796
3182		-00:39:15,390 ~-~-> 00:39:17,460
3183		-the biggest mistakes traders make.
3184		-
3185		-797
3186		-00:39:17,970 ~-~-> 00:39:20,640
3187		-Because of the natural volatility in the
3188		-
3189		-798
3190		-00:39:20,640 ~-~-> 00:39:23,970
3191		-Forex market. It's so easy for just
3192		-
3193		-799
3194		-00:39:23,970 ~-~-> 00:39:27,960
3195		-common volatility. Nothing behind it new
3196		-
3197		-800
3198		-00:39:27,960 ~-~-> 00:39:30,420
3199		-market maker sneaking to get you. It's
3200		-
3201		-801
3202		-00:39:30,720 ~-~-> 00:39:33,030
3203		-normal volatility. Okay, illiquid
3204		-
3205		-802
3206		-00:39:33,030 ~-~-> 00:39:35,220
3207		-volatility. Okay, where markets come
3208		-
3209		-803
3210		-00:39:35,220 ~-~-> 00:39:38,040
3211		-down. Phil Phil's market inefficiencies
3212		-
3213		-804
3214		-00:39:38,040 ~-~-> 00:39:39,750
3215		-and they take the market down to a
3216		-
3217		-805
3218		-00:39:39,750 ~-~-> 00:39:42,480
3219		-specific level to gather up any orders
3220		-
3221		-806
3222		-00:39:42,480 ~-~-> 00:39:43,770
3223		-and then go the other way. Okay, we're
3224		-
3225		-807
3226		-00:39:43,770 ~-~-> 00:39:45,360
3227		-not talking about stop raters looking
3228		-
3229		-808
3230		-00:39:45,360 ~-~-> 00:39:47,760
3231		-for common little intraday retracements.
3232		-
3233		-809
3234		-00:39:47,820 ~-~-> 00:39:51,600
3235		-Okay. If you rapidly move your stop loss
3236		-
3237		-810
3238		-00:39:51,630 ~-~-> 00:39:56,070
3239		-up behind market pricing, you're asking
3240		-
3241		-811
3242		-00:39:56,070 ~-~-> 00:39:57,810
3243		-to get taken out of a trade before it
3244		-
3245		-812
3246		-00:39:57,810 ~-~-> 00:40:00,690
3247		-comes to fruition. Okay. Once you have
3248		-
3249		-813
3250		-00:40:00,690 ~-~-> 00:40:02,670
3251		-the setup, what you're doing is you're
3252		-
3253		-814
3254		-00:40:02,670 ~-~-> 00:40:05,370
3255		-anticipating the market to start to move
3256		-
3257		-815
3258		-00:40:05,580 ~-~-> 00:40:07,920
3259		-in your favor. But this is a gray area
3260		-
3261		-816
3262		-00:40:07,920 ~-~-> 00:40:10,380
3263		-because you don't know for sure it's
3264		-
3265		-817
3266		-00:40:10,380 ~-~-> 00:40:13,650
3267		-going to do that. Okay? Yes, the market
3268		-
3269		-818
3270		-00:40:13,680 ~-~-> 00:40:15,570
3271		-could potentially can continue to move
3272		-
3273		-819
3274		-00:40:15,570 ~-~-> 00:40:17,670
3275		-in your favor. Or it could turn around
3276		-
3277		-820
3278		-00:40:17,670 ~-~-> 00:40:20,220
3279		-and stop you out. Or could stay in this
3280		-
3281		-821
3282		-00:40:20,250 ~-~-> 00:40:23,340
3283		-small little consolidation area for days
3284		-
3285		-822
3286		-00:40:23,610 ~-~-> 00:40:25,680
3287		-and make new money for you but a small
3288		-
3289		-823
3290		-00:40:25,680 ~-~-> 00:40:27,840
3291		-profit, but you'll hold on to it
3292		-
3293		-824
3294		-00:40:27,840 ~-~-> 00:40:29,340
3295		-thinking it's going to go to the moon, I
3296		-
3297		-825
3298		-00:40:29,340 ~-~-> 00:40:31,170
3299		-know you because everybody's the same
3300		-
3301		-826
3302		-00:40:31,170 ~-~-> 00:40:32,880
3303		-way when they're developing. We all
3304		-
3305		-827
3306		-00:40:32,880 ~-~-> 00:40:34,440
3307		-think the markets are gonna go like a
3308		-
3309		-828
3310		-00:40:34,440 ~-~-> 00:40:37,890
3311		-rocket either up or crash down. Okay, to
3312		-
3313		-829
3314		-00:40:37,890 ~-~-> 00:40:39,660
3315		-the ground like a, you know, a meteor
3316		-
3317		-830
3318		-00:40:39,660 ~-~-> 00:40:41,880
3319		-just plummeting to the earth. It's, they
3320		-
3321		-831
3322		-00:40:41,880 ~-~-> 00:40:43,260
3323		-don't move in straight lines, guys.
3324		-
3325		-832
3326		-00:40:43,380 ~-~-> 00:40:45,120
3327		-Okay, so while we would anticipate,
3328		-
3329		-833
3330		-00:40:45,240 ~-~-> 00:40:48,000
3331		-okay, higher prices, and we expect that
3332		-
3333		-834
3334		-00:40:48,000 ~-~-> 00:40:50,490
3335		-hopefully, okay, hopefully that we see
3336		-
3337		-835
3338		-00:40:50,490 ~-~-> 00:40:52,440
3339		-that, again, keeping in mind that's a
3340		-
3341		-836
3342		-00:40:52,440 ~-~-> 00:40:55,650
3343		-gray area. We're expecting those price
3344		-
3345		-837
3346		-00:40:55,650 ~-~-> 00:40:57,690
3347		-levels be reached on the upper side, but
3348		-
3349		-838
3350		-00:40:57,690 ~-~-> 00:41:00,870
3351		-they're not promised. Okay? So inside of
3352		-
3353		-839
3354		-00:41:00,870 ~-~-> 00:41:03,570
3355		-that, that, that gray area of
3356		-
3357		-840
3358		-00:41:03,570 ~-~-> 00:41:07,020
3359		-anticipation, we have an expected
3360		-
3361		-841
3362		-00:41:07,110 ~-~-> 00:41:10,200
3363		-outcome in price action, but we can
3364		-
3365		-842
3366		-00:41:10,230 ~-~-> 00:41:13,560
3367		-effectively manage our stops within that
3368		-
3369		-843
3370		-00:41:13,560 ~-~-> 00:41:16,650
3371		-move. Okay, and there's a way that I do
3372		-
3373		-844
3374		-00:41:16,650 ~-~-> 00:41:19,740
3375		-it. But once you have your setup, the
3376		-
3377		-845
3378		-00:41:19,740 ~-~-> 00:41:22,710
3379		-way I manage my stop losses, is I use a
3380		-
3381		-846
3382		-00:41:22,710 ~-~-> 00:41:26,730
3383		-15 minute timeframe. Okay, and the 15
3384		-
3385		-847
3386		-00:41:26,730 ~-~-> 00:41:30,060
3387		-minute because this setup in this whole
3388		-
3389		-848
3390		-00:41:30,090 ~-~-> 00:41:31,650
3391		-series have been really developed on
3392		-
3393		-849
3394		-00:41:31,890 ~-~-> 00:41:34,530
3395		-finding one solid weekly setup where you
3396		-
3397		-850
3398		-00:41:34,530 ~-~-> 00:41:36,690
3399		-can take a really good setup for a
3400		-
3401		-851
3402		-00:41:36,690 ~-~-> 00:41:39,690
3403		-weekly opportunity to make a consistent
3404		-
3405		-852
3406		-00:41:39,720 ~-~-> 00:41:42,870
3407		-realm of pips anywhere between 30 to 60
3408		-
3409		-853
3410		-00:41:42,870 ~-~-> 00:41:45,270
3411		-pips i think is an ideal scenario for
3412		-
3413		-854
3414		-00:41:45,270 ~-~-> 00:41:47,400
3415		-someone to try to carve out a consistent
3416		-
3417		-855
3418		-00:41:47,430 ~-~-> 00:41:50,280
3419		-living. And if you are consistently
3420		-
3421		-856
3422		-00:41:50,280 ~-~-> 00:41:51,870
3423		-doing that, there's certainly no reason
3424		-
3425		-857
3426		-00:41:51,870 ~-~-> 00:41:54,900
3427		-why you can't take a very handsome
3428		-
3429		-858
3430		-00:41:55,110 ~-~-> 00:41:56,970
3431		-living out of this this marketplace and
3432		-
3433		-859
3434		-00:41:56,970 ~-~-> 00:41:58,260
3435		-not tried a whole lot of peers either.
3436		-
3437		-860
3438		-00:41:58,620 ~-~-> 00:42:03,480
3439		-So Why don't use a 15 minute timeframe?
3440		-
3441		-861
3442		-00:42:03,810 ~-~-> 00:42:07,920
3443		-Well, there is very clear, discernible
3444		-
3445		-862
3446		-00:42:07,920 ~-~-> 00:42:09,780
3447		-dealing ranges and support resistance
3448		-
3449		-863
3450		-00:42:09,780 ~-~-> 00:42:12,660
3451		-levels, okay, that are clearly
3452		-
3453		-864
3454		-00:42:12,660 ~-~-> 00:42:15,450
3455		-discernible on that timeframe, and
3456		-
3457		-865
3458		-00:42:15,480 ~-~-> 00:42:17,160
3459		-allows you to look at a whole weekly
3460		-
3461		-866
3462		-00:42:17,160 ~-~-> 00:42:20,790
3463		-perspective perspective, from Sunday to
3464		-
3465		-867
3466		-00:42:20,790 ~-~-> 00:42:25,020
3467		-Friday's close. Perfect example, pick
3468		-
3469		-868
3470		-00:42:25,020 ~-~-> 00:42:27,360
3471		-any pair of your choosing, load up a 15
3472		-
3473		-869
3474		-00:42:27,360 ~-~-> 00:42:29,010
3475		-minute chart, condense your chart, so it
3476		-
3477		-870
3478		-00:42:29,010 ~-~-> 00:42:31,650
3479		-shows Sunday to Friday's close. And
3480		-
3481		-871
3482		-00:42:31,650 ~-~-> 00:42:34,140
3483		-you'll see how that timeframe gives you
3484		-
3485		-872
3486		-00:42:34,320 ~-~-> 00:42:37,260
3487		-all of this session highs and lows. It
3488		-
3489		-873
3490		-00:42:37,260 ~-~-> 00:42:40,200
3491		-even gives you a very clear snapshot of
3492		-
3493		-874
3494		-00:42:40,260 ~-~-> 00:42:43,140
3495		-all of the volatility for those
3496		-
3497		-875
3498		-00:42:43,140 ~-~-> 00:42:45,840
3499		-particular sessions London, New York,
3500		-
3501		-876
3502		-00:42:46,200 ~-~-> 00:42:48,360
3503		-Asia and you can actually see where the
3504		-
3505		-877
3506		-00:42:48,360 ~-~-> 00:42:50,070
3507		-range highs and lows are very clearly.
3508		-
3509		-878
3510		-00:42:50,310 ~-~-> 00:42:51,480
3511		-And then you can see the small little
3512		-
3513		-879
3514		-00:42:51,480 ~-~-> 00:42:53,580
3515		-quiet points in the marketplace in
3516		-
3517		-880
3518		-00:42:53,580 ~-~-> 00:42:58,980
3519		-between those sessions. Also, the notion
3520		-
3521		-881
3522		-00:42:58,980 ~-~-> 00:43:01,740
3523		-of find that we Hi by Tuesday are no
3524		-
3525		-882
3526		-00:43:01,740 ~-~-> 00:43:03,180
3527		-later than Wednesday is London open
3528		-
3529		-883
3530		-00:43:03,900 ~-~-> 00:43:07,080
3531		-having that in mind okay expecting a
3532		-
3533		-884
3534		-00:43:07,080 ~-~-> 00:43:09,060
3535		-specific outcome based on hard timeframe
3536		-
3537		-885
3538		-00:43:09,060 ~-~-> 00:43:11,190
3539		-direction on premise but that assumption
3540		-
3541		-886
3542		-00:43:11,190 ~-~-> 00:43:13,110
3543		-here being bullish, we will be looking
3544		-
3545		-887
3546		-00:43:13,110 ~-~-> 00:43:14,880
3547		-for the monday tuesday or wednesday
3548		-
3549		-888
3550		-00:43:14,880 ~-~-> 00:43:19,440
3551		-London open session low making it for
3552		-
3553		-889
3554		-00:43:19,440 ~-~-> 00:43:21,720
3555		-the weekly low by that time okay no
3556		-
3557		-890
3558		-00:43:21,720 ~-~-> 00:43:22,980
3559		-respond Wednesdays London open at the
3560		-
3561		-891
3562		-00:43:22,980 ~-~-> 00:43:25,500
3563		-very least typically you get about 70%
3564		-
3565		-892
3566		-00:43:26,550 ~-~-> 00:43:28,860
3567		-likelihood that the lows usually formed
3568		-
3569		-893
3570		-00:43:28,860 ~-~-> 00:43:30,060
3571		-by Tuesday's long and open
3572		-
3573		-894
3574		-00:43:31,320 ~-~-> 00:43:32,760
3575		-just reverse that obviously for bearish
3576		-
3577		-895
3578		-00:43:32,760 ~-~-> 00:43:35,910
3579		-conditions but you know, the way I
3580		-
3581		-896
3582		-00:43:35,910 ~-~-> 00:43:37,680
3583		-manage my stops once they've moved to
3584		-
3585		-897
3586		-00:43:37,680 ~-~-> 00:43:41,640
3587		-break even, I use a 15 minute timeframe.
3588		-
3589		-898
3590		-00:43:42,720 ~-~-> 00:43:44,700
3591		-And I find the most recent swing low on
3592		-
3593		-899
3594		-00:43:44,700 ~-~-> 00:43:48,600
3595		-a 15 minute basis and note that one and
3596		-
3597		-900
3598		-00:43:48,600 ~-~-> 00:43:50,790
3599		-then I go back to the previous swing low
3600		-
3601		-901
3602		-00:43:50,790 ~-~-> 00:43:53,970
3603		-prior to that one that swing lows where
3604		-
3605		-902
3606		-00:43:53,970 ~-~-> 00:43:56,490
3607		-I take my stop and I just place it just
3608		-
3609		-903
3610		-00:43:56,520 ~-~-> 00:43:59,010
3611		-on in bullish environments just beneath
3612		-
3613		-904
3614		-00:43:59,010 ~-~-> 00:44:02,280
3615		-it by 10 to 15 15 pips okay 10 to 15
3616		-
3617		-905
3618		-00:44:02,280 ~-~-> 00:44:05,820
3619		-pips below this second most recent swing
3620		-
3621		-906
3622		-00:44:05,820 ~-~-> 00:44:09,270
3623		-low on a 15 minute timeframe and I trail
3624		-
3625		-907
3626		-00:44:09,270 ~-~-> 00:44:10,860
3627		-the market like that I'm getting my
3628		-
3629		-908
3630		-00:44:10,920 ~-~-> 00:44:13,020
3631		-market, a little bit of opportunity,
3632		-
3633		-909
3634		-00:44:13,380 ~-~-> 00:44:16,110
3635		-okay to retrace but not Kamali back
3636		-
3637		-910
3638		-00:44:16,110 ~-~-> 00:44:17,460
3639		-down. If it comes back down that far.
3640		-
3641		-911
3642		-00:44:17,940 ~-~-> 00:44:19,410
3643		-I'm accepting the fact that, you know,
3644		-
3645		-912
3646		-00:44:19,500 ~-~-> 00:44:21,150
3647		-the move is probably done, I missed an
3648		-
3649		-913
3650		-00:44:21,150 ~-~-> 00:44:23,760
3651		-ideal opportunity to get out. Or the
3652		-
3653		-914
3654		-00:44:23,760 ~-~-> 00:44:25,680
3655		-markets reverse and my analysis was
3656		-
3657		-915
3658		-00:44:25,680 ~-~-> 00:44:26,760
3659		-wrong and there's certainly nothing
3660		-
3661		-916
3662		-00:44:26,760 ~-~-> 00:44:29,970
3663		-wrong with admitting that but by using
3664		-
3665		-917
3666		-00:44:29,970 ~-~-> 00:44:34,350
3667		-the previous two swing lows, okay, what
3668		-
3669		-918
3670		-00:44:34,350 ~-~-> 00:44:38,010
3671		-it's doing is it's allowing successive
3672		-
3673		-919
3674		-00:44:38,940 ~-~-> 00:44:42,150
3675		-79% retracement levels, okay, and when
3676		-
3677		-920
3678		-00:44:42,150 ~-~-> 00:44:43,350
3679		-we look at an examples, you'll see what
3680		-
3681		-921
3682		-00:44:43,350 ~-~-> 00:44:46,080
3683		-I mean by that, but it just it builds in
3684		-
3685		-922
3686		-00:44:46,080 ~-~-> 00:44:48,150
3687		-a allowance for market structure to
3688		-
3689		-923
3690		-00:44:48,180 ~-~-> 00:44:49,920
3691		-continue to make higher highs and higher
3692		-
3693		-924
3694		-00:44:49,920 ~-~-> 00:44:53,910
3695		-lows. Okay. Plus, it keeps it away from
3696		-
3697		-925
3698		-00:44:53,910 ~-~-> 00:44:56,640
3699		-just pure static volatility coming down
3700		-
3701		-926
3702		-00:44:56,640 ~-~-> 00:45:00,810
3703		-and tagging you okay? That's the reason
3704		-
3705		-927
3706		-00:45:00,810 ~-~-> 00:45:03,390
3707		-why you want to be taking some profits.
3708		-
3709		-928
3710		-00:45:03,510 ~-~-> 00:45:06,120
3711		-Okay initially, okay, it may be 20 pips,
3712		-
3713		-929
3714		-00:45:06,120 ~-~-> 00:45:07,770
3715		-maybe 30 pips, you may be getting one
3716		-
3717		-930
3718		-00:45:07,770 ~-~-> 00:45:09,720
3719		-for one and let the remaining portion of
3720		-
3721		-931
3722		-00:45:09,720 ~-~-> 00:45:12,000
3723		-your trade unwind, okay and reach for
3724		-
3725		-932
3726		-00:45:12,000 ~-~-> 00:45:13,590
3727		-higher objectives. There's nothing wrong
3728		-
3729		-933
3730		-00:45:13,590 ~-~-> 00:45:14,910
3731		-with that. But there's going to be a
3732		-
3733		-934
3734		-00:45:14,910 ~-~-> 00:45:16,740
3735		-camp out there that listens to this and
3736		-
3737		-935
3738		-00:45:16,740 ~-~-> 00:45:19,320
3739		-says, Well, you know, you're risking 30
3740		-
3741		-936
3742		-00:45:19,320 ~-~-> 00:45:21,210
3743		-pips. But then when you cut the position
3744		-
3745		-937
3746		-00:45:21,210 ~-~-> 00:45:24,060
3747		-in half at 20 or 30 pips, you're really
3748		-
3749		-938
3750		-00:45:24,060 ~-~-> 00:45:27,120
3751		-not making any headway with donut. Well,
3752		-
3753		-939
3754		-00:45:27,120 ~-~-> 00:45:29,790
3755		-I beg to differ. Okay? If you have
3756		-
3757		-940
3758		-00:45:29,790 ~-~-> 00:45:32,370
3759		-consistency on your side, you are
3760		-
3761		-941
3762		-00:45:32,370 ~-~-> 00:45:34,080
3763		-shielding yourself from the inevitable
3764		-
3765		-942
3766		-00:45:34,080 ~-~-> 00:45:35,580
3767		-market turnaround while you're in the
3768		-
3769		-943
3770		-00:45:35,580 ~-~-> 00:45:37,230
3771		-trade where it does have a small profit,
3772		-
3773		-944
3774		-00:45:37,560 ~-~-> 00:45:39,270
3775		-okay? And there's nothing guaranteed
3776		-
3777		-945
3778		-00:45:39,270 ~-~-> 00:45:40,800
3779		-it's going to get to your first target
3780		-
3781		-946
3782		-00:45:40,800 ~-~-> 00:45:43,560
3783		-objective or second, or move in your
3784		-
3785		-947
3786		-00:45:43,560 ~-~-> 00:45:46,560
3787		-favor at all. Okay, that camp that
3788		-
3789		-948
3790		-00:45:46,560 ~-~-> 00:45:48,270
3791		-believes that taking some partial
3792		-
3793		-949
3794		-00:45:48,270 ~-~-> 00:45:52,020
3795		-profits, has fixation that thinking that
3796		-
3797		-950
3798		-00:45:52,020 ~-~-> 00:45:53,190
3799		-they're always going to be right so
3800		-
3801		-951
3802		-00:45:53,190 ~-~-> 00:45:55,320
3803		-therefore, their trade should hold on to
3804		-
3805		-952
3806		-00:45:55,320 ~-~-> 00:45:58,410
3807		-the maximum lots that were assumed at
3808		-
3809		-953
3810		-00:45:58,410 ~-~-> 00:46:00,000
3811		-the beginning of trade for the floor.
3812		-
3813		-954
3814		-00:46:00,000 ~-~-> 00:46:02,070
3815		-duration of the trade with the
3816		-
3817		-955
3818		-00:46:02,070 ~-~-> 00:46:05,340
3819		-expectation of making maximum profit. My
3820		-
3821		-956
3822		-00:46:05,340 ~-~-> 00:46:06,870
3823		-goal was a professional trader and it
3824		-
3825		-957
3826		-00:46:06,870 ~-~-> 00:46:09,750
3827		-should be yours as well. Your goal is to
3828		-
3829		-958
3830		-00:46:09,750 ~-~-> 00:46:12,720
3831		-have the maximum protection from losing
3832		-
3833		-959
3834		-00:46:12,720 ~-~-> 00:46:14,820
3835		-your money. Because the likelihood of
3836		-
3837		-960
3838		-00:46:14,820 ~-~-> 00:46:17,100
3839		-you doing that is almost guaranteed
3840		-
3841		-961
3842		-00:46:17,400 ~-~-> 00:46:19,260
3843		-versus the likelihood of you making
3844		-
3845		-962
3846		-00:46:19,260 ~-~-> 00:46:21,750
3847		-money consistently. Okay, think about
3848		-
3849		-963
3850		-00:46:21,750 ~-~-> 00:46:23,940
3851		-that for a moment. If you didn't listen
3852		-
3853		-964
3854		-00:46:23,940 ~-~-> 00:46:26,070
3855		-to it closely, rewind this video for a
3856		-
3857		-965
3858		-00:46:26,070 ~-~-> 00:46:27,480
3859		-second couple minutes and then go back
3860		-
3861		-966
3862		-00:46:27,480 ~-~-> 00:46:29,730
3863		-and listen that portion. Again, because
3864		-
3865		-967
3866		-00:46:30,240 ~-~-> 00:46:34,830
3867		-it is worth its weight in gold. It's so
3868		-
3869		-968
3870		-00:46:34,830 ~-~-> 00:46:36,840
3871		-easy for us to think that we're going to
3872		-
3873		-969
3874		-00:46:36,840 ~-~-> 00:46:41,490
3875		-make more money. If we hold more reach
3876		-
3877		-970
3878		-00:46:41,490 ~-~-> 00:46:43,290
3879		-for higher price objectives or lower
3880		-
3881		-971
3882		-00:46:43,290 ~-~-> 00:46:44,490
3883		-price objections. If we're short.
3884		-
3885		-972
3886		-00:46:45,300 ~-~-> 00:46:47,010
3887		-There's no guarantee it's getting there.
3888		-
3889		-973
3890		-00:46:47,610 ~-~-> 00:46:49,530
3891		-No guarantee and there's been so many
3892		-
3893		-974
3894		-00:46:49,530 ~-~-> 00:46:52,320
3895		-times where I've been so close to the
3896		-
3897		-975
3898		-00:46:52,320 ~-~-> 00:46:54,060
3899		-actual highs and lows of the particular
3900		-
3901		-976
3902		-00:46:54,060 ~-~-> 00:46:55,680
3903		-market was trading, okay, and I'm
3904		-
3905		-977
3906		-00:46:55,680 ~-~-> 00:46:57,870
3907		-talking weekly highs where the market
3908		-
3909		-978
3910		-00:46:57,870 ~-~-> 00:46:59,370
3911		-turned around and then went months the
3912		-
3913		-979
3914		-00:46:59,370 ~-~-> 00:47:02,430
3915		-other direction Okay, I have been so
3916		-
3917		-980
3918		-00:47:02,430 ~-~-> 00:47:05,010
3919		-close where I've just been a partial, I
3920		-
3921		-981
3922		-00:47:05,010 ~-~-> 00:47:07,200
3923		-mean a piece of a pip not even a full
3924		-
3925		-982
3926		-00:47:07,200 ~-~-> 00:47:11,520
3927		-Pip. And I didn't get my exit. Okay, and
3928		-
3929		-983
3930		-00:47:12,510 ~-~-> 00:47:15,480
3931		-to me, I hate that feeling. A lot of
3932		-
3933		-984
3934		-00:47:15,480 ~-~-> 00:47:17,070
3935		-folks would say me that's that's cool.
3936		-
3937		-985
3938		-00:47:17,070 ~-~-> 00:47:19,020
3939		-That's crazy accuracy Yeah, but I didn't
3940		-
3941		-986
3942		-00:47:19,020 ~-~-> 00:47:21,420
3943		-get out of that point. So how accurate
3944		-
3945		-987
3946		-00:47:21,420 ~-~-> 00:47:23,670
3947		-is it just because I said it was going
3948		-
3949		-988
3950		-00:47:23,670 ~-~-> 00:47:25,650
3951		-to go there I had an order to get out
3952		-
3953		-989
3954		-00:47:25,650 ~-~-> 00:47:27,390
3955		-and it only trades a half a pip to that
3956		-
3957		-990
3958		-00:47:27,390 ~-~-> 00:47:29,040
3959		-point. It doesn't activate you in the
3960		-
3961		-991
3962		-00:47:29,040 ~-~-> 00:47:31,740
3963		-order. That doesn't make me smart. It
3964		-
3965		-992
3966		-00:47:31,740 ~-~-> 00:47:33,150
3967		-doesn't make me an excellent trader. It
3968		-
3969		-993
3970		-00:47:33,150 ~-~-> 00:47:36,240
3971		-makes me a person that missed that move.
3972		-
3973		-994
3974		-00:47:36,600 ~-~-> 00:47:38,760
3975		-Okay, I didn't get my trade off like I
3976		-
3977		-995
3978		-00:47:38,760 ~-~-> 00:47:41,400
3979		-wanted to. And initially as a commodity
3980		-
3981		-996
3982		-00:47:41,400 ~-~-> 00:47:43,050
3983		-trader, I you know, I would make that
3984		-
3985		-997
3986		-00:47:43,050 ~-~-> 00:47:46,380
3987		-mistake and it would, it would get close
3988		-
3989		-998
3990		-00:47:46,380 ~-~-> 00:47:49,530
3991		-to my orders. And I'm saying this when I
3992		-
3993		-999
3994		-00:47:49,770 ~-~-> 00:47:50,910
3995		-started getting consistent not when I
3996		-
3997		-1000
3998		-00:47:50,910 ~-~-> 00:47:51,930
3999		-first started because I wasn't that
4000		-
4001		-1001
4002		-00:47:51,930 ~-~-> 00:47:53,760
4003		-accurate. I didn't know anything. I was
4004		-
4005		-1002
4006		-00:47:53,760 ~-~-> 00:47:54,930
4007		-just fine. You know, flying by the seat
4008		-
4009		-1003
4010		-00:47:54,930 ~-~-> 00:47:59,970
4011		-of my pants. The the notion of how
4012		-
4013		-1004
4014		-00:48:00,000 ~-~-> 00:48:03,030
4015		-Holding on to a moose to get the last
4016		-
4017		-1005
4018		-00:48:03,030 ~-~-> 00:48:05,670
4019		-piece of the pie is, you know, it's a
4020		-
4021		-1006
4022		-00:48:05,670 ~-~-> 00:48:07,200
4023		-losers mentality. You don't want to do
4024		-
4025		-1007
4026		-00:48:07,200 ~-~-> 00:48:09,750
4027		-that. You just need a big portion of the
4028		-
4029		-1008
4030		-00:48:09,750 ~-~-> 00:48:12,090
4031		-move. And I just think like a line, you
4032		-
4033		-1009
4034		-00:48:12,090 ~-~-> 00:48:14,070
4035		-know, to me, I think he's, you know,
4036		-
4037		-1010
4038		-00:48:14,160 ~-~-> 00:48:21,360
4039		-he's it on the on the terrain of the
4040		-
4041		-1011
4042		-00:48:21,360 ~-~-> 00:48:24,390
4043		-outback or you know, the outback, I
4044		-
4045		-1012
4046		-00:48:24,390 ~-~-> 00:48:26,250
4047		-guess the Africa's playing, I guess as
4048		-
4049		-1013
4050		-00:48:26,250 ~-~-> 00:48:28,170
4051		-well thinking Oh, but you
4052		-
4053		-1014
4054		-00:48:28,380 ~-~-> 00:48:31,350
4055		-when they, when they eat, okay?
4056		-
4057		-1015
4058		-00:48:31,860 ~-~-> 00:48:32,940
4059		-They eat
4060		-
4061		-1016
4062		-00:48:33,390 ~-~-> 00:48:36,270
4063		-a large portion of whatever was taken
4064		-
4065		-1017
4066		-00:48:36,270 ~-~-> 00:48:39,900
4067		-down by Linus, okay? But they're not
4068		-
4069		-1018
4070		-00:48:39,900 ~-~-> 00:48:43,140
4071		-consuming everything and knows what line
4072		-
4073		-1019
4074		-00:48:43,140 ~-~-> 00:48:46,620
4075		-does, okay? He lets the lionesses do the
4076		-
4077		-1020
4078		-00:48:46,620 ~-~-> 00:48:48,660
4079		-work. They chase down the prey, they
4080		-
4081		-1021
4082		-00:48:48,660 ~-~-> 00:48:50,640
4083		-take it down, they kill it. Okay, they
4084		-
4085		-1022
4086		-00:48:50,640 ~-~-> 00:48:52,080
4087		-may be getting a nibble or two, okay?
4088		-
4089		-1023
4090		-00:48:52,080 ~-~-> 00:48:53,580
4091		-But he comes over and says okay, look,
4092		-
4093		-1024
4094		-00:48:53,790 ~-~-> 00:48:55,680
4095		-it's obvious things did I'm not wasting
4096		-
4097		-1025
4098		-00:48:55,680 ~-~-> 00:48:57,720
4099		-any effort. Okay. Don't go over there
4100		-
4101		-1026
4102		-00:48:57,720 ~-~-> 00:49:00,000
4103		-and run them off, down to eat whatever.
4104		-
4105		-1027
4106		-00:49:00,000 ~-~-> 00:49:01,800
4107		-Want, and I ain't going to consume it
4108		-
4109		-1028
4110		-00:49:01,800 ~-~-> 00:49:04,500
4111		-all. I'll leave, you know, a portion for
4112		-
4113		-1029
4114		-00:49:04,500 ~-~-> 00:49:06,420
4115		-them to eat too. But he's getting the
4116		-
4117		-1030
4118		-00:49:06,420 ~-~-> 00:49:10,470
4119		-lion's share. Every move has a lion's
4120		-
4121		-1031
4122		-00:49:10,500 ~-~-> 00:49:12,570
4123		-share, all you need is a portion of
4124		-
4125		-1032
4126		-00:49:12,570 ~-~-> 00:49:16,200
4127		-that. Or the Linus is starving? No. Are
4128		-
4129		-1033
4130		-00:49:16,200 ~-~-> 00:49:19,080
4131		-the Cubs starving? No, everybody's gonna
4132		-
4133		-1034
4134		-00:49:19,080 ~-~-> 00:49:21,570
4135		-get their piece of the pie. But you
4136		-
4137		-1035
4138		-00:49:21,570 ~-~-> 00:49:24,450
4139		-don't have to rush in here trying to get
4140		-
4141		-1036
4142		-00:49:24,450 ~-~-> 00:49:25,860
4143		-the very, very low and get the very,
4144		-
4145		-1037
4146		-00:49:25,860 ~-~-> 00:49:27,090
4147		-very high. In other words, you don't
4148		-
4149		-1038
4150		-00:49:27,090 ~-~-> 00:49:29,160
4151		-need to make the kill. And that turns
4152		-
4153		-1039
4154		-00:49:29,160 ~-~-> 00:49:31,290
4155		-the market around. And you don't have to
4156		-
4157		-1040
4158		-00:49:31,290 ~-~-> 00:49:34,710
4159		-make the apex, you know, high. Okay, you
4160		-
4161		-1041
4162		-00:49:34,710 ~-~-> 00:49:37,380
4163		-don't have to find the very lowest point
4164		-
4165		-1042
4166		-00:49:37,410 ~-~-> 00:49:40,440
4167		-of the low. Okay, you leave a little bit
4168		-
4169		-1043
4170		-00:49:40,440 ~-~-> 00:49:42,630
4171		-on there. Okay, let those other traders
4172		-
4173		-1044
4174		-00:49:42,630 ~-~-> 00:49:44,610
4175		-try to chase all that stuff. You don't
4176		-
4177		-1045
4178		-00:49:44,610 ~-~-> 00:49:46,470
4179		-need that. And the same thing applies.
4180		-
4181		-1046
4182		-00:49:46,470 ~-~-> 00:49:49,020
4183		-it's applicable to your stops, give it
4184		-
4185		-1047
4186		-00:49:49,020 ~-~-> 00:49:51,390
4187		-some room. Don't be afraid to have a
4188		-
4189		-1048
4190		-00:49:51,390 ~-~-> 00:49:53,370
4191		-market come back against you. And some
4192		-
4193		-1049
4194		-00:49:53,370 ~-~-> 00:49:54,870
4195		-of the exercises that you need to be
4196		-
4197		-1050
4198		-00:49:54,870 ~-~-> 00:49:57,540
4199		-doing is have a demo account and put
4200		-
4201		-1051
4202		-00:49:57,540 ~-~-> 00:50:01,170
4203		-your trades on and let them Come all the
4204		-
4205		-1052
4206		-00:50:01,170 ~-~-> 00:50:03,420
4207		-way down to your stop. Okay? Don't think
4208		-
4209		-1053
4210		-00:50:03,420 ~-~-> 00:50:05,100
4211		-about targets. Just think okay, I'm
4212		-
4213		-1054
4214		-00:50:05,100 ~-~-> 00:50:06,900
4215		-going to be buying today at, you know,
4216		-
4217		-1055
4218		-00:50:07,800 ~-~-> 00:50:10,350
4219		-eight GMT, regardless of wherever prices
4220		-
4221		-1056
4222		-00:50:10,500 ~-~-> 00:50:12,510
4223		-are going up a 30 PIP stop on and just
4224		-
4225		-1057
4226		-00:50:12,510 ~-~-> 00:50:15,960
4227		-watch what price does, okay? And just
4228		-
4229		-1058
4230		-00:50:15,960 ~-~-> 00:50:19,050
4231		-assume what you'd be feeling. If you
4232		-
4233		-1059
4234		-00:50:19,050 ~-~-> 00:50:21,780
4235		-were in the marketplace at that time how
4236		-
4237		-1060
4238		-00:50:21,780 ~-~-> 00:50:23,970
4239		-the market trades down to your stop what
4240		-
4241		-1061
4242		-00:50:23,970 ~-~-> 00:50:27,390
4243		-it does after it hits it, okay? And then
4244		-
4245		-1062
4246		-00:50:27,420 ~-~-> 00:50:29,970
4247		-start applying it with your tools that
4248		-
4249		-1063
4250		-00:50:29,970 ~-~-> 00:50:31,830
4251		-we learned in these videos. Okay
4252		-
4253		-1064
4254		-00:50:31,830 ~-~-> 00:50:33,810
4255		-applying the price action study, then
4256		-
4257		-1065
4258		-00:50:33,810 ~-~-> 00:50:36,240
4259		-using a 30 PIP stop below the entry
4260		-
4261		-1066
4262		-00:50:36,240 ~-~-> 00:50:38,070
4263		-point that where you enter that, okay
4264		-
4265		-1067
4266		-00:50:38,070 ~-~-> 00:50:40,230
4267		-and watch the market move once it takes
4268		-
4269		-1068
4270		-00:50:40,230 ~-~-> 00:50:42,810
4271		-the first profit target then we could
4272		-
4273		-1069
4274		-00:50:42,810 ~-~-> 00:50:45,960
4275		-discuss the 127 extension or an old high
4276		-
4277		-1070
4278		-00:50:45,960 ~-~-> 00:50:48,480
4279		-that you pull your own fib from when you
4280		-
4281		-1071
4282		-00:50:48,630 ~-~-> 00:50:51,780
4283		-see that first target hit. Don't move
4284		-
4285		-1072
4286		-00:50:51,780 ~-~-> 00:50:54,930
4287		-your stop up. Okay? Do a couple trades
4288		-
4289		-1073
4290		-00:50:54,930 ~-~-> 00:50:57,810
4291		-like I do about 20 trades or so. Like
4292		-
4293		-1074
4294		-00:50:57,810 ~-~-> 00:50:59,130
4295		-that we just go to break even once the
4296		-
4297		-1075
4298		-00:50:59,130 ~-~-> 00:51:00,990
4299		-first targets hit Then wait for the
4300		-
4301		-1076
4302		-00:51:00,990 ~-~-> 00:51:03,540
4303		-second target to be fulfilled, do not
4304		-
4305		-1077
4306		-00:51:03,540 ~-~-> 00:51:04,980
4307		-move the stop either you get to second
4308		-
4309		-1078
4310		-00:51:04,980 ~-~-> 00:51:06,810
4311		-target or you get stopped out. Do that
4312		-
4313		-1079
4314		-00:51:06,810 ~-~-> 00:51:09,900
4315		-for 20 trades, okay? And it's obviously
4316		-
4317		-1080
4318		-00:51:09,900 ~-~-> 00:51:11,580
4319		-easier and faster to do it on an
4320		-
4321		-1081
4322		-00:51:11,700 ~-~-> 00:51:13,470
4323		-intraday basis. Like Don't you know,
4324		-
4325		-1082
4326		-00:51:13,470 ~-~-> 00:51:16,890
4327		-five minutes 15 minutes setups, but some
4328		-
4329		-1083
4330		-00:51:16,890 ~-~-> 00:51:18,630
4331		-of you traders can't do that because
4332		-
4333		-1084
4334		-00:51:18,630 ~-~-> 00:51:20,130
4335		-you're you have jobs or whatever but
4336		-
4337		-1085
4338		-00:51:20,130 ~-~-> 00:51:22,590
4339		-that's fine. But then eventually then
4340		-
4341		-1086
4342		-00:51:22,620 ~-~-> 00:51:25,710
4343		-graduate to moving your stop loss in the
4344		-
4345		-1087
4346		-00:51:25,710 ~-~-> 00:51:27,090
4347		-form that we just discussed now by
4348		-
4349		-1088
4350		-00:51:27,090 ~-~-> 00:51:29,070
4351		-having a 15 minute time frame using the
4352		-
4353		-1089
4354		-00:51:29,070 ~-~-> 00:51:31,200
4355		-most recent swing lows for bullish
4356		-
4357		-1090
4358		-00:51:31,200 ~-~-> 00:51:33,240
4359		-scenarios. 10 to 15 pips below the
4360		-
4361		-1091
4362		-00:51:33,630 ~-~-> 00:51:36,420
4363		-lowest of the most recent two swing
4364		-
4365		-1092
4366		-00:51:36,420 ~-~-> 00:51:39,000
4367		-lows. Okay. And obviously just for
4368		-
4369		-1093
4370		-00:51:39,000 ~-~-> 00:51:40,410
4371		-clarity for those that are selling
4372		-
4373		-1094
4374		-00:51:40,410 ~-~-> 00:51:44,190
4375		-short, using your demo account. Yeah, I
4376		-
4377		-1095
4378		-00:51:44,190 ~-~-> 00:51:45,780
4379		-got that in here. I'm not trying to tell
4380		-
4381		-1096
4382		-00:51:45,780 ~-~-> 00:51:47,220
4383		-you do anything with real money guys.
4384		-
4385		-1097
4386		-00:51:47,220 ~-~-> 00:51:48,930
4387		-I'm not licensed to do that. These are
4388		-
4389		-1098
4390		-00:51:48,930 ~-~-> 00:51:51,840
4391		-just ideas to stimulate you. Your
4392		-
4393		-1099
4394		-00:51:51,840 ~-~-> 00:51:55,980
4395		-decision making the selling scenario,
4396		-
4397		-1100
4398		-00:51:56,010 ~-~-> 00:51:57,840
4399		-you would just use the 15 minute most
4400		-
4401		-1101
4402		-00:51:57,840 ~-~-> 00:52:00,630
4403		-recent to swing highs and highest of the
4404		-
4405		-1102
4406		-00:52:00,630 ~-~-> 00:52:02,880
4407		-two you would use your stop loss of 10
4408		-
4409		-1103
4410		-00:52:02,880 ~-~-> 00:52:05,160
4411		-to 15 pips above it. And you would trail
4412		-
4413		-1104
4414		-00:52:05,160 ~-~-> 00:52:06,600
4415		-that accordingly until it hits your
4416		-
4417		-1105
4418		-00:52:06,630 ~-~-> 00:52:11,130
4419		-ultimate target. That's really the
4420		-
4421		-1106
4422		-00:52:11,130 ~-~-> 00:52:14,370
4423		-essential element to having stop loss
4424		-
4425		-1107
4426		-00:52:14,370 ~-~-> 00:52:18,090
4427		-management. There's nothing new, much
4428		-
4429		-1108
4430		-00:52:18,090 ~-~-> 00:52:19,650
4431		-deeper than that. It's very simple. I
4432		-
4433		-1109
4434		-00:52:19,650 ~-~-> 00:52:22,350
4435		-try not to complicate it. I used to have
4436		-
4437		-1110
4438		-00:52:22,350 ~-~-> 00:52:24,000
4439		-all kinds of intricate ways of doing
4440		-
4441		-1111
4442		-00:52:24,000 ~-~-> 00:52:26,310
4443		-this and doing that. And I found it just
4444		-
4445		-1112
4446		-00:52:26,310 ~-~-> 00:52:28,290
4447		-simply by taking a 15 minute chart use
4448		-
4449		-1113
4450		-00:52:28,290 ~-~-> 00:52:30,240
4451		-the most recent swing lows and highs
4452		-
4453		-1114
4454		-00:52:31,050 ~-~-> 00:52:32,850
4455		-wherever to wherever those two or
4456		-
4457		-1115
4458		-00:52:32,850 ~-~-> 00:52:34,650
4459		-whatever the lowest one is. That's where
4460		-
4461		-1116
4462		-00:52:34,650 ~-~-> 00:52:37,470
4463		-I'm going to have my stop in the
4464		-
4465		-1117
4466		-00:52:37,470 ~-~-> 00:52:38,940
4467		-relationship to where prices now.
4468		-
4469		-1118
4470		-00:52:55,140 ~-~-> 00:52:58,830
4471		-Okay guys, in Episode Seven, we're gonna
4472		-
4473		-1119
4474		-00:52:58,830 ~-~-> 00:53:00,690
4475		-be looking at selecting multiple
4476		-
4477		-1120
4478		-00:53:00,690 ~-~-> 00:53:04,530
4479		-targets. We talking about setting a
4480		-
4481		-1121
4482		-00:53:04,530 ~-~-> 00:53:06,570
4483		-limit orders at logical price levels for
4484		-
4485		-1122
4486		-00:53:06,570 ~-~-> 00:53:09,720
4487		-exits. And we're gonna be talking about
4488		-
4489		-1123
4490		-00:53:09,720 ~-~-> 00:53:14,460
4491		-the ICT split gains ratio, leaving some
4492		-
4493		-1124
4494		-00:53:15,300 ~-~-> 00:53:19,170
4495		-for the just in case scenario principles
4496		-
4497		-1125
4498		-00:53:19,170 ~-~-> 00:53:23,550
4499		-for multiple timeframe trading. And
4500		-
4501		-1126
4502		-00:53:23,550 ~-~-> 00:53:25,680
4503		-we'll have the foundation to success
4504		-
4505		-1127
4506		-00:53:26,280 ~-~-> 00:53:28,200
4507		-that will be given to you in blueprint
4508		-
4509		-1128
4510		-00:53:28,380 ~-~-> 00:53:32,310
4511		-format in the final episode in this
4512		-
4513		-1129
4514		-00:53:32,310 ~-~-> 00:53:35,670
4515		-series, Part Eight. And I think you'll
4516		-
4517		-1130
4518		-00:53:36,000 ~-~-> 00:53:38,010
4519		-have a pretty good idea of what should
4520		-
4521		-1131
4522		-00:53:38,010 ~-~-> 00:53:40,260
4523		-be done from beginning to end stages.
4524		-
4525		-1132
4526		-00:53:40,770 ~-~-> 00:53:45,030
4527		-And I'm using in a flowchart format for
4528		-
4529		-1133
4530		-00:53:45,030 ~-~-> 00:53:48,540
4531		-the part eight series where you know, if
4532		-
4533		-1134
4534		-00:53:48,540 ~-~-> 00:53:51,870
4535		-a specific condition is x, then you go
4536		-
4537		-1135
4538		-00:53:51,870 ~-~-> 00:53:55,620
4539		-to this next condition. Once that
4540		-
4541		-1136
4542		-00:53:55,620 ~-~-> 00:53:58,590
4543		-condition is met, you go to next. So I'm
4544		-
4545		-1137
4546		-00:53:58,590 ~-~-> 00:54:02,820
4547		-a I'm a computer programmer. And guess
4548		-
4549		-1138
4550		-00:54:02,820 ~-~-> 00:54:05,370
4551		-anyone that has a computer programming
4552		-
4553		-1139
4554		-00:54:05,520 ~-~-> 00:54:07,740
4555		-experience, you would understand that
4556		-
4557		-1140
4558		-00:54:07,740 ~-~-> 00:54:12,720
4559		-it's if then scenarios that we learned
4560		-
4561		-1141
4562		-00:54:12,720 ~-~-> 00:54:13,890
4563		-in computer programming.
4564		-
4565		-1142
4566		-00:54:14,670 ~-~-> 00:54:15,240
4567		-If,
4568		-
4569		-1143
4570		-00:54:16,320 ~-~-> 00:54:19,920
4571		-if you can't really build a mindset of
4572		-
4573		-1144
4574		-00:54:19,950 ~-~-> 00:54:23,490
4575		-trading after Part Eight, I'm going to
4576		-
4577		-1145
4578		-00:54:23,580 ~-~-> 00:54:28,020
4579		-readily admit it failed in, in sharing
4580		-
4581		-1146
4582		-00:54:28,020 ~-~-> 00:54:29,760
4583		-some insight on how you could become a
4584		-
4585		-1147
4586		-00:54:29,760 ~-~-> 00:54:32,760
4587		-more consistent trader, I put a lot of
4588		-
4589		-1148
4590		-00:54:32,760 ~-~-> 00:54:35,040
4591		-work. And it may seem like there's been
4592		-
4593		-1149
4594		-00:54:35,040 ~-~-> 00:54:37,800
4595		-a lot of time between these individual
4596		-
4597		-1150
4598		-00:54:37,800 ~-~-> 00:54:39,180
4599		-videos, but it's actually been a whole
4600		-
4601		-1151
4602		-00:54:39,180 ~-~-> 00:54:41,640
4603		-lot of work on that last one. Because
4604		-
4605		-1152
4606		-00:54:41,670 ~-~-> 00:54:44,820
4607		-I've tried to give the blanket scenarios
4608		-
4609		-1153
4610		-00:54:44,820 ~-~-> 00:54:48,150
4611		-for into common setups that we see you
4612		-
4613		-1154
4614		-00:54:48,330 ~-~-> 00:54:49,350
4615		-over and over and over again, that's
4616		-
4617		-1155
4618		-00:54:49,350 ~-~-> 00:54:51,990
4619		-very generic in the marketplace. And it
4620		-
4621		-1156
4622		-00:54:51,990 ~-~-> 00:54:54,450
4623		-won't catch every single move guys and
4624		-
4625		-1157
4626		-00:54:54,450 ~-~-> 00:54:57,060
4627		-don't expect that of anything. But I
4628		-
4629		-1158
4630		-00:54:57,060 ~-~-> 00:54:59,070
4631		-think you'll be pleasantly surprised how
4632		-
4633		-1159
4634		-00:54:59,310 ~-~-> 00:55:01,290
4635		-many times opportunities it will give
4636		-
4637		-1160
4638		-00:55:01,290 ~-~-> 00:55:04,050
4639		-you an what to do and why. And once you
4640		-
4641		-1161
4642		-00:55:04,050 ~-~-> 00:55:06,150
4643		-do it for a few months, you won't need
4644		-
4645		-1162
4646		-00:55:06,150 ~-~-> 00:55:09,150
4647		-the flow chart format you'll just simply
4648		-
4649		-1163
4650		-00:55:09,150 ~-~-> 00:55:11,760
4651		-know by habit what you should be doing
4652		-
4653		-1164
4654		-00:55:11,760 ~-~-> 00:55:14,610
4655		-next and and what to do you know while
4656		-
4657		-1165
4658		-00:55:14,610 ~-~-> 00:55:17,580
4659		-the setups are, you know, you developing
4660		-
4661		-1166
4662		-00:55:18,090 ~-~-> 00:55:20,640
4663		-so hopefully this has been insightful to
4664		-
4665		-1167
4666		-00:55:20,640 ~-~-> 00:55:22,530
4667		-you guys and until the next time wish
4668		-
4669		-1168
4670		-00:55:22,530 ~-~-> 00:55:23,340
4671		-good luck and good trading