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ICT - Sniper Course - 07 - Multiple Targets module.srt

Last modified by Drunk Monkey on 2021-06-10 10:35
1 00:00:55,350 --> 00:01:05,790 ICT: Hello Folks, this is ICT with the scout sniper basic Field Guide, Part Seven in our continuing series after this, we only got one more installment left
2 00:01:05,790 --> 00:01:17,070 and we're complete. Okay, we're gonna be looking at multiple targets. Okay, and what specifically we'll be covering in this presentation are we're going to be
3 00:01:17,070 --> 00:01:28,350 reviewing the previous assignment, discovering the average number of pips intraday, a study on that. And we're looking at the ICT chart examples and stop
4 00:01:28,350 --> 00:01:39,510 loss orders revisited. And we're gonna be looking at the average daily PIP ranges we're gonna be discussing when ranges contract and why it's essential for
5 00:01:39,510 --> 00:01:54,150 you to be prepared. And the 30 PIP stop loss and why are we looking at the ICT split gains ratio? Okay, and why is it important to understand your trade
6 00:01:54,150 --> 00:02:10,800 setups? What is the concern? What makes a trade different to any other? Why is classification essential to profit taking and the ICT split ratios explained?
7 00:02:12,000 --> 00:02:29,370 And we're gonna be discussing, are we in sync or not intermediate term ratios, short term ratios, day trading ratios, and finally, scalping ratios. And in
8 00:02:29,370 --> 00:02:39,330 conclusion, we'll have one more assignments the last one in this series, it will be basically a review for you to go through all of the previous videos one more
9 00:02:39,330 --> 00:02:55,020 time to gather up all your notes again. And we'll be moving on to the final conclusion installment to this series think what I have planned an outline that
10 00:02:55,020 --> 00:03:08,580 is still a little bit more work to be complete. But what I have so far you'll be very, very surprised to see how these tools are used and when to use them and
11 00:03:08,580 --> 00:03:11,550 when not to use them. So let's move on.
12 00:03:20,190 --> 00:03:31,620 Okay, folks, we're looking at the Euro USD the 15 minute chart. And keeping in mind with this teaching series, obviously we talked about how trading in line
13 00:03:31,620 --> 00:03:43,650 with the higher time frame daily and using the nine and 18 moving averages Exponential Moving Averages rather to kind of give you a buying model for
14 00:03:43,650 --> 00:03:58,200 institutional flows. So more or less use this section of the marketplace basically 30th of September to the fourth of October so you can call that up on
15 00:03:58,200 --> 00:04:06,030 your charge everybody the same markup I'm doing here and I have each day delineated with vertical lines and you can do that in Mt four by holding down
16 00:04:06,030 --> 00:04:20,040 CTRL and tapping why see that happening here and these horizontal lines is take the foregoing line so if you see a little bit better, this is delineating the
17 00:04:20,040 --> 00:04:31,650 previous day okay, this is previous day's high which is seen here and this is the previous day's low which is seen here. Okay, I'm going to share these tools
18 00:04:31,980 --> 00:04:45,450 on the internet and you'll be able to download and apply them to your mt four platform as well. We're going to look at a few things here obviously, beginning
19 00:04:45,450 --> 00:05:06,060 with the average PIP range so this date high to low. Using this here we have 78 pips see the middle number here 70 pips, okay? So on this particular week this
20 00:05:06,060 --> 00:05:20,880 Monday It was 70 pips for that particular day. This trading day we had the high here and the low fonder here, right there on that candle. So by looking at that
21 00:05:20,880 --> 00:05:41,040 range okay we have a range of 71 pips. Okay? Very close to the previous day's daily range. We have this range here, which is 103 104 pips rather. Okay, again,
22 00:05:41,040 --> 00:05:50,520 that's this day's high, this day's low. What this indicator does is it actually plots the previous day's high low. So you can see graphically and there's a lot
23 00:05:50,520 --> 00:06:04,530 of uses for that, but we're not going to go into it here, but you'll hear more about it as we get into the eighth installment in the series. Okay, we have 64
24 00:06:04,530 --> 00:06:26,310 pips on this range here. Okay. And now what do we what did we just see? Okay, we saw 77 years. The PIP range, hang around that 70 to 80 PIP marker, we move into
25 00:06:26,340 --> 00:06:41,940 100 pips. Then in here, we shrunk down to 60. So we had 7070s 160. Okay, so we have contraction in the daily range right in here. That means there is a pretty
26 00:06:41,940 --> 00:06:52,890 sizable move that's expected, just simply looking at volatility alone, okay, this is why it's important to know when the daily range and start to contract,
27 00:06:53,370 --> 00:07:06,180 you need to be prepared because something's about to take place that you could capitalize on. Okay, we're going into a new week here. The market makes a small
28 00:07:06,180 --> 00:07:23,880 range again, okay. And that's this low here, this high. Okay, typically, Mondays we don't like to trade. But you can see the high and low here on this day. It's
29 00:07:23,880 --> 00:07:38,490 this range here. So we have 45. So the daily hip ranges have really consolidated into a smaller, tighter, daily range that were much much smaller than we were on
30 00:07:38,520 --> 00:07:55,440 this previous week. Mark comes down, find some support. We have the previous day's high here, which is right here, this candle here and the low here so we're
31 00:07:55,440 --> 00:08:10,620 going to put on this so it's easy to see 113 pips is this range here. Okay, so the ranges are starting to expand. Okay, and previous day's range as well.
32 00:08:15,060 --> 00:08:25,410 Gave me 59. So we have another small contraction and daily range sweet, you would expect another move of significance. Now, it doesn't give you directional
33 00:08:25,410 --> 00:08:34,170 premise. Okay, before I go any further, I don't want to confuse you here. When the ranges start to contract that does not imply directional premise, it just
34 00:08:34,170 --> 00:08:44,460 means a volatility pop, if you will, where the markets really gonna make a swing one direction or the other is highly probable. Okay. We're going to add some
35 00:08:44,460 --> 00:08:58,680 directional stuff in a moment. But we have this daily high here and daily low, which is seen on Sunday's candle here or range, which we don't like to do too
36 00:08:58,680 --> 00:09:19,770 much trading on on Sunday. Here's Tuesday's of that week's daily range. You can see that as communicated here. And we start moving into more larger daily
37 00:09:19,770 --> 00:09:39,930 ranges, we're above 90 here. Okay. And prior to this range here we had on that Monday of this particular week, we have a range of 53 pips. Okay, so we started
38 00:09:39,930 --> 00:10:00,000 to shrink up and we exploded, and we had a very nice increase in the daily range 161 pips, okay, which was seen here. Okay, so what I'm trying to draw your
39 00:10:00,000 --> 00:10:11,340 Attention to and this is not only do we look at price action on the charts, but we're also measuring and keeping an eye on volatility, because when the ranges
40 00:10:11,340 --> 00:10:21,990 start to get small, okay, or if they drop off over the last five days, much lower than the average daily range, we're moving into an area where we're
41 00:10:21,990 --> 00:10:32,370 probably going to have a very sharp price move. Again, that does not give you a prognostication. influence. No, it does give you any kind of directional
42 00:10:32,370 --> 00:10:40,500 premise, if you will. It just gives you a neon sign that everybody looks for that something's about to happen. Well, that's one of the best things you can
43 00:10:40,500 --> 00:10:49,950 have. Because it's a shrinking of volatility, okay. You have like disquiet before the storm. Okay, and because we're looking at 15 minute chart, and
44 00:10:49,950 --> 00:11:00,450 looking at one shot, one kills per week. Okay, one cherry picked scenario, for the whole entire week that we've really tried to hone in on for an opportunity
45 00:11:00,450 --> 00:11:11,550 with this with the highest probability of profitability, and the lowest probability of risk. That's, that's what a professional trader spends his career
46 00:11:11,550 --> 00:11:22,500 doing. That's his routine, he looks for those conditions. There's a lot of opportunities that he'll let go or she'll like go by with no regard whatsoever
47 00:11:22,530 --> 00:11:31,800 about who else is getting it. You in your development towards a professional trader, you want to be having that mindset as well, you want to be moving
48 00:11:31,800 --> 00:11:39,690 towards a level of consistency, and not feeling like a dog in a meat market, just running around chasing every little thing hanging off of a counter nibbling
49 00:11:39,690 --> 00:11:48,480 here and nibbling there, and never really being satisfied. I can't express how satisfying it is to sit on your hands and wait for a specific environment,
50 00:11:48,870 --> 00:12:00,690 specific condition, specific setup, and then watch it unfold exactly how you have waited for it patiently. And then take advantage of it execute. No fear, no
51 00:12:00,690 --> 00:12:10,740 worry, no rushing, absolute patience. And there's no emotion whatsoever. The emotion comes on the other side of the trade when you get out, hopefully with
52 00:12:10,740 --> 00:12:22,830 profitability, hopefully with having very little drawdown during the trade. So moving in that direction as a developing trader, that's where your mindset
53 00:12:22,980 --> 00:12:30,750 shouldn't be early on. And if you haven't done that you've been trading for a while, you'd be surprised if you started doing that very thing, how much more
54 00:12:30,750 --> 00:12:43,680 significant your results would be. And it would clear a lot of the emotional and fear and greed aspects that come inherent with trading. So understanding the
55 00:12:43,680 --> 00:12:55,170 contraction of the daily ranges, again, is vital to understanding when next big move, quote unquote, is about to ensue. Because we as traders, that's what we
56 00:12:55,170 --> 00:13:00,960 need, we need volatility to make money. Okay, if the markets Don't move, it's very difficult for us to make money. Okay, unless you're an options trader,
57 00:13:00,960 --> 00:13:11,640 which I'm not going to be claiming to be an avid options trader, but they're certainly means of taking advantage of the marketplace. When there's quiet
58 00:13:11,640 --> 00:13:14,130 markets. I'm just not that type of trader, you know,
59 00:13:14,130 --> 00:13:25,590 I need action. So let's go back and look at a few things. Okay. The previous video we talked about stop loss placement, and managing trailing stops and such.
60 00:13:26,220 --> 00:13:39,240 And I really want to hone this in down to a very core principle and seek to understand what it is specifically that you're trying to do when you place your
61 00:13:39,240 --> 00:13:52,170 stop and why it's important to have a specific number of pips as a like a template if you will. Because we're trading with a one shot one kill mentality,
62 00:13:52,290 --> 00:14:08,220 looking for one choice set up for the week. We understand we looked at a few daily ranges here, okay. While it is not always 100 pips, I classify the average
63 00:14:08,220 --> 00:14:22,380 daily range for the euro and they maybe the British Pound USD nonwords, cable and fiber pairs. I classify them as a generic 100 PIP daily range. Now please do
64 00:14:22,380 --> 00:14:33,600 not send emails to me, okay. or message me on twitter saying, Michael, the fiber doesn't have an average daily range of 100 pips every day or hasn't had it for
65 00:14:33,600 --> 00:14:46,350 this number of days or what? I know that it will move in and out. Okay, but in my mind, I adopt 100 PIP daily range, will it always have exactly 100? Pip? No.
66 00:14:47,280 --> 00:14:57,510 Will it go over? It certainly. will double it sometimes. Certainly. Okay. Will it go very, very small have even a 40 PIP or less daily range? Yes, it can do
67 00:14:57,510 --> 00:15:08,280 that. Okay, so please don't Don't try and start an argument with me because I'm really not interested. Okay. I'm showing you how I view the market. It's up to
68 00:15:08,280 --> 00:15:23,460 you whether you discern if it's any value or not. Okay? But because I have framed it with an average of 100 pips on a daily basis, okay 1/3 that, okay?
69 00:15:23,460 --> 00:15:34,470 It's about 30 pips. Okay. And my premise to trading with a one shot one kill mentality is if we're in an environment where we already expect bullish prices,
70 00:15:34,770 --> 00:15:46,140 okay? If we expect bullish prices, we've looked at the higher timeframe daily chart, maybe the nine day, an 18 day or signifying that it is a buy model right
71 00:15:46,140 --> 00:15:55,950 now everything is institutional flows are moving higher. We've come off of a nice higher level support levels. Okay, and breaking resistance levels,
72 00:15:56,220 --> 00:16:09,810 everything is bullish. Okay. We've already learned that the market finds its low for the week, typically between Monday and Wednesdays London open, very high
73 00:16:09,810 --> 00:16:19,020 probability for Tuesday's long and open to create it. But again, we're flexible because we are not trading in black and white, we trade in the gray. Okay, so we
74 00:16:19,020 --> 00:16:32,010 have to thrive in the gray, we have a general rule to expect the higher low to form my Wednesday's London oven, okay. But there's going to be small deviations
75 00:16:32,010 --> 00:16:40,230 in that periodically, okay? Because just simply because we want it to be like that, always, it's not always going to be like that. So you have to have some
76 00:16:40,230 --> 00:16:49,530 flexibility in trading. And that goes along with your analysis as well. So we're going to go back over a few concepts with this whole weekend mind. Okay. And
77 00:16:49,560 --> 00:17:00,480 again, we're looking at September 30. to October 4, and for time reduction on the video. Again, I'll just counsel you to go to your daily chart, pull up your
78 00:17:00,510 --> 00:17:09,810 moving averages to to confirm this is indeed a timeframe when the market is showing institutional flows being always with the averages crossing and
79 00:17:09,810 --> 00:17:24,720 everything you're trying to move higher. We have Wednesday's trading here we have Tuesday's trading here. And on Monday, we had a range, okay. From Tuesday's
80 00:17:24,720 --> 00:17:41,910 high here and Monday's low. Okay, so market made a high here early in the week, took out this high here and traded back and receded back in to Wednesday. Now
81 00:17:41,910 --> 00:17:43,020 this candle here
82 00:17:45,270 --> 00:18:00,960 is my little things here. So I can see what I'm looking at. This candle comes in at 1215 GMT, or 1230 GMT rather. Now that's classic, New York open. So while we
83 00:18:00,960 --> 00:18:11,490 did have the market, make a nice little low here in Dorne. It's London session here, New York came down, swept that low out and then the real move came. Okay,
84 00:18:11,490 --> 00:18:22,740 so we talked about that stop reading event. Okay, but more specifically, we're going to go a little closer. Okay, you can see what we have here. This is that
85 00:18:22,920 --> 00:18:37,740 Monday and Tuesday, we're going to pull up the range, pulling the low dropping our fib right on this high. Okay, so we have we've outlined our range here.
86 00:18:38,370 --> 00:18:49,800 Okay. And we also know that because the market has been moving lower, we're bullish, we're looking for buys Okay, in this environment based on the daily
87 00:18:49,800 --> 00:19:03,750 timeframe, we will be looking for bullish scenarios. Okay. Okay, so we have our fib from the low here, up to the high here. Just one more little click here, as
88 00:19:03,750 --> 00:19:15,480 you can see, we're looking at here is that Monday, low, Tuesday's high and markets, finding lower prices and then move into this is London open for that
89 00:19:15,480 --> 00:19:27,420 Wednesday on the second of October. And then the New York open comes down raids those lows, okay, see how clean that is? Just about the same level here. And
90 00:19:27,420 --> 00:19:37,830 that's a real high suspect area no pocket staff will be resting okay. Or liquidity pocket. And then our liquidity pool rather and market comes down.
91 00:19:38,220 --> 00:19:47,340 raids that area here assumes all those pending orders. That would be what it would be sell orders. Okay, there would be sell orders. Because anyone that we
92 00:19:47,340 --> 00:19:56,850 tried to buy long in here, they're protecting in your mind by having a stoploss in the form of a sell stop. Because if prices come down lower they want to be
93 00:19:56,850 --> 00:20:03,240 getting out the market that sell stuff becomes a market order to do what sell At the market, who would be willing to take the other side of the trade? Those that
94 00:20:03,240 --> 00:20:15,060 are in the know. So when he took price down here, then you saw that rally up?  Here's what we want to know. We want to know, on the second of October, when
95 00:20:15,060 --> 00:20:29,550 price was dropping down, was there something over here? Okay, that it was trying to fulfill? Well, if we go out to an hourly chart, here is the bearish candle
96 00:20:30,810 --> 00:20:36,150 prior to the bullish move up. Okay, let's zoom in a little bit more. Okay.
97 00:20:44,820 --> 00:21:05,100 All right there. So we have price coming down, touching that hourly order block for that big move here on the 30th, then move higher here on that Tuesday, and
98 00:21:05,100 --> 00:21:14,730 then we have the market receding down. Notice how price comes right down into that sweet spot as well. Okay, but does not violate the 70% treatment level. It
99 00:21:14,730 --> 00:21:27,720 comes right down to the order block here. Okay. Let's take this off. clean clothes, see what I'm referring to. That's how precise it gets. Okay. So when
100 00:21:27,720 --> 00:21:38,550 price comes down, hits that level, it starts to rally up. Now, here's where we're going to introduce the concept of the effective stoploss placement. Okay,
101 00:21:38,580 --> 00:21:51,990 let's go back down to the 15 minute time frame, okay. And we're going to show this is
102 00:21:58,950 --> 00:22:18,360 the whole London session open, not the whole session itself, but the London open, as defined by me. And here is the New York session
103 00:22:28,530 --> 00:22:43,740 as defined by me. Okay, and we're going to assume again, that all things that we discussed in this video series, were favoring an area to be buying in here.
104 00:22:46,170 --> 00:23:02,190 We're going to highlight this area here again, we're looking at this point here is the beginning of time and price. In this area here is where we be looking all
105 00:23:02,190 --> 00:23:12,780 the way to the last portion of New York session. So what I do is it's just outside edge this rectangles right here, in the beginning of this rectangle edge
106 00:23:12,810 --> 00:23:23,310 is approximately the beginning here. So what I've done was I've mapped out this whole area of where time and price are conducive for a buy. Okay, so now we're
107 00:23:23,310 --> 00:23:40,500 gonna take the fib off. And 135 10s are a nice round number. We're going to assume that this level here is what we traded. I'm not going to use this as the
108 00:23:40,500 --> 00:23:52,290 ideal scenario. Okay, I'm going to show you how powerful this stuff is. And you don't need to be so precise. This whole area you've identified as a level of
109 00:23:53,040 --> 00:24:01,860 opportunity Okay, so this is a killing ground inside of kill zones. These are kill zones. This is a killing Graham. Okay, this is an area where we stalking a
110 00:24:01,860 --> 00:24:11,940 setup. We don't look for any setups during this time period. This is dead long in the marketplace. This is like quiet time. You won't be trading in the New
111 00:24:11,940 --> 00:24:23,910 York open. I'm sorry to London rather our the New York open. But we're looking for this move for the weekly rains to continue moving higher. So as the market
112 00:24:23,910 --> 00:24:34,320 moves from Tuesday's high down into Wednesday's London open, okay, this is an area where we would be hunting a setup. Okay. If we used
113 00:24:39,930 --> 00:24:54,750 this price level here is 135 or seven. Let's assume for a moment, we traded at 135 15 right in here. Okay, my slow area, it's previous day's low in here, right
114 00:24:54,750 --> 00:25:03,570 in here. So we're going to use that as our entry point. Okay because dealing ranges and bank are Traders like to use previous day's highs and lows. We're
115 00:25:03,570 --> 00:25:19,620 going to assume for a moment that we took that trade long in here in this consolidation little area in here. We went long there if we use let's get rid of
116 00:25:19,620 --> 00:25:31,950 this rectangle here. If we use 30 pips as a stop, our stop would reside down here.
117 00:25:39,060 --> 00:25:46,740 Okay 134 86 or there abouts. Okay? And our entry
118 00:25:52,410 --> 00:25:58,920 would be approximately down to where we said 135 15
119 00:26:03,930 --> 00:26:09,030 Okay, so we have our entry points
120 00:26:15,000 --> 00:26:33,570 and that's showing 20 pips, I would need this to go a little bit deeper here.  And that's, that's why again, I like to use 30 pips because let's look at this
121 00:26:35,700 --> 00:26:50,040 okay with this range, okay. From that low and that daily range, look how much of that daily range that it consumes, in terms of, you know, total daily range here
122 00:26:50,070 --> 00:27:02,130 look from this dailies. Hi, guys today Hi, Mike, how much of that daily range, okay, is consumed with that price most that magnitude of price. Again, the low
123 00:27:02,400 --> 00:27:11,130 forming right here on that candle right there. That's the daily low. Look how much of that daily range has been concerned with 30 pips. So if you combine,
124 00:27:11,520 --> 00:27:28,590 okay, if you're combining the the mechanics of entering the marketplace at a specific time during a specific time kill zone like London or New York open.
125 00:27:30,240 --> 00:27:42,810 Specifically, looking for the setup here, even with this stop raid right there.  Okay, right there. You are not going to miss that opportunity to get long.
126 00:27:43,440 --> 00:27:53,790 You're not going to Okay, so when you see this move price, stabbing down like this, okay, by having all these levels identified, you would at least be willing
127 00:27:53,790 --> 00:28:02,670 to see a trade down to that point here. And your stop loss isn't isn't triggered. You're still good chunk away in terms of pips, there's no reason for
128 00:28:02,670 --> 00:28:16,830 you to be fearful that Okay, so again 30 pips, okay. 30 pips. If you are timing your trade with one shot, one kill, looking for the choice days to be looking
129 00:28:16,830 --> 00:28:27,150 for the low to be forming. Monday, Tuesday or Wednesday. Okay, even with imperfection with your entry point. This is why you started pips. Okay. And for
130 00:28:27,240 --> 00:28:33,600 for those of you who have already started thinking earlier on the video, oh, look, he picked the most cherry picking scenario there is no I gave this
131 00:28:33,600 --> 00:28:44,760 scenario to show you how, even when my tools did not give me the perfect entry, but still allow me to be involved in the marketplace. Okay. These lows in here,
132 00:28:44,940 --> 00:28:52,530 resting below that would be a nice area of stops. Okay, so it'd be a liquidity pool there. The market rallies up a little bit and comes right back down takes
133 00:28:52,530 --> 00:29:04,260 those participants out. Okay, this is the the Judas swing in here, this is that false, move lower, everyone will be chasing that prior to move higher. Okay. So
134 00:29:05,280 --> 00:29:15,510 we have the one that open the New York open by having that, that framework.  Okay, we could be long in here looking for a move going into Friday. Okay,
135 00:29:15,510 --> 00:29:28,410 here's Thursday's trading that that week. And Friday does not make a higher high in here. But now let's go back to the stop loss, why and how we manage them.
136 00:29:29,580 --> 00:29:37,740 You're gonna see why again, I use this specific example because again, it shows you how you get the lion's portion of the move. And you're not absolutely
137 00:29:37,740 --> 00:29:46,560 getting a low you're not absolutely getting the high. Okay, so now let's assume from you went long in here, your stop loss, obviously as we just detailed is
138 00:29:46,620 --> 00:29:57,270 down here. Okay. So by having this entry point, the market moves up. Okay, we're looking at a 15 minute time frame. What you're going to look for are the swing
139 00:29:57,270 --> 00:30:07,320 lows on the 15 minute time frame. Going and you're gonna be looking at the most recent two as the market starts to move up. Okay, we took out the previous day's
140 00:30:07,320 --> 00:30:16,740 high here, right there, okay? So it's this swing low, and then when this swing low forms, okay, here's this one and this one. So now you can move your stop
141 00:30:16,740 --> 00:30:35,400 loss from 134 85 up to this low here, just a little bit below. Okay, so now by having that set up like that. So now, again, we're looking at how the market
142 00:30:35,400 --> 00:30:45,570 moves higher. This would be a nice level, take some profits, okay, but now we're going to be looking to preserve our open position, okay. So, if we took a
143 00:30:45,570 --> 00:30:54,990 portion of the trade off in this area here based on the previous day's high, nice reason to take it out, not all of the trades, but some of it Okay, we have
144 00:30:55,110 --> 00:31:07,230 when the market starts to move up and take out this high here, we have this low and this low, but now we have this swing low here, okay. So now you have this
145 00:31:07,230 --> 00:31:09,180 low and this low.
146 00:31:11,490 --> 00:31:23,490 So now you can move your stop to just below this low. Okay, so over here your stop also be right about and this senati right here. Okay, market comes down
147 00:31:23,520 --> 00:31:34,980 comes down, does not read it. Okay, as the market starts to make a lower low here than this one here. Are you nervous? Probably are. But are you stopped out?
148 00:31:35,010 --> 00:31:45,750 No. So what do you follow the rules or your emotions? The rules. Okay. So now, when the market starts to rally up here and takes out this high here, right on
149 00:31:45,750 --> 00:31:56,190 this candle here, you look at where we're at in terms of swing lows, we have this swing low, in this swing low, which is the lowest of the most recent swing
150 00:31:56,190 --> 00:32:06,750 lows, it's this one here. So you would be able to move your stop loss just below that one. Okay. So now as the market rallies up, okay, it starts to drift lower
151 00:32:07,020 --> 00:32:17,400 in here. We have not made any new higher highs, market events, he comes down and boom takes your radio, right? At your stop. Okay? And what happens is the
152 00:32:17,400 --> 00:32:17,880 result?
153 00:32:23,490 --> 00:32:36,690 Are you upset about it? No, you controlled your risk. Did you make money? In this example? hypothetically, you would have. Okay, so that's one example using
154 00:32:36,780 --> 00:32:50,970 the stop loss rules and applying the weekly ranges and such. Let's look at again, assuming we got in at 135 15 and you got stopped out on your whatever the
155 00:32:50,970 --> 00:33:00,450 balance would be. That's 66 pips. Do you remember at the beginning of this video series, we talked about how 30 to 50 pips a week, you can build a career on
156 00:33:01,230 --> 00:33:09,450 there's 60 pips, leverage your feet? Did you trade every single day? No. Did you? Did you beat your head against the wall trying to figure out where the next
157 00:33:09,450 --> 00:33:19,830 bat pattern is? Where the next crab pattern is? The next ICT reflection is No.  Okay, you would have a clear cut routine that you would look for specifically,
158 00:33:20,370 --> 00:33:27,450 every single week, you should know what you're going to be looking for. Okay?  Are you gonna be looking to be a buyer or a seller or sitting in your hands?
159 00:33:27,810 --> 00:33:38,970 Okay? Or are you preserving your capital because you're already in position, you're either managing, executing or seeing your hand. Simple. Okay. Now, with
160 00:33:38,970 --> 00:33:55,770 all that the topic of daily ranges will be much, much more involved in the eighth installment of the series, because we're going to talk about the five day
161 00:33:55,830 --> 00:34:07,320 average daily range. We're just going to briefly mention it here. But I'm going to reserve a much more in depth discussion until the eighth video because I'm
162 00:34:07,320 --> 00:34:21,030 actually gonna have the tool released at a time I did the video upload as well.  So but those of you don't have the five the average daily range indicator for
163 00:34:21,030 --> 00:34:33,870 mp4, you'll be able to get it for free. I will share it with you. That's the one you see me using in my videos. But regardless of what type of trader you are,
164 00:34:34,230 --> 00:34:45,510 okay, and we're gonna be talking about trade classifications Now, why is it important? And what's the big deal? Okay, number one, if you are short term
165 00:34:45,510 --> 00:34:55,560 trading, okay. For instance, everything was bullish going into this week here.  Maybe you saw this as a selling opportunity on a lower timeframe maybe this is
166 00:34:55,560 --> 00:35:03,720 an optimal trade entry that you sold into, okay in the market came down and You're thinking, wow, I'm really smart, I'm making money. But all of a sudden
167 00:35:03,720 --> 00:35:14,850 you married a vein. The higher time frame intermediate term trade setup, based on the daily timeframe suggests that this thing's going higher, technically, can
168 00:35:14,850 --> 00:35:24,540 it always unfold like that? No. Sometimes you're going to have where the technicals suggest it may continue to go higher, but it doesn't do it. Okay. And
169 00:35:24,540 --> 00:35:31,950 that's when you get to climax reversals. We're not covering that in this series, it's important that you understand that that's not what I'm trying to teach you
170 00:35:31,950 --> 00:35:41,340 here. I'm trying to teach you to trade within that big lines portion of the moose. That's all you need. You don't need to be specific highs and lows, you
171 00:35:41,340 --> 00:35:52,020 don't need that. Okay. So that's the powerful concepts coming through and bleeding out all the high end nervousness that is presented with traders, the
172 00:35:52,020 --> 00:35:58,230 feeling to get a kiss the highs and lows, you don't need to Okay, notice that this straight set up was not the low the week, the lower week was found on
173 00:35:58,230 --> 00:36:06,540 Monday. Okay, this was a nice move. I'm not going to argue with anybody that would be short this, okay, so you short it up in this area here around the 80.
174 00:36:07,200 --> 00:36:15,000 Come down here around you. It's 60 pips, there's nothing wrong with that. That's equivalent to what we would have made on this trade. So what, that's not your
175 00:36:15,000 --> 00:36:24,150 trade, that's not your trade. And that's how you look at it, guys can come into forums all day long. I took this trade and then took that out, who cares, you
176 00:36:24,150 --> 00:36:32,220 can't make any money on that trade. And you can't lose any money on it either.  You can't get any glory. And you can't swallow your pride over either. So with
177 00:36:32,220 --> 00:36:41,520 differences in make, while it's educational, and inspiring to see other people's results, do not assume that that should have been traded, you should have
178 00:36:41,520 --> 00:36:51,690 thought Why did you do the homework on that trade going into it? Because if you didn't do it's not your trade, okay? So keep that in mind. You have no reason,
179 00:36:51,810 --> 00:37:05,550 no reason whatsoever to worry about what the next guy is doing? None. Okay, so that five, the average daily range is going to be crucial to us in the eighth
180 00:37:05,550 --> 00:37:13,260 video, but for now, we're just understand that we're going to have to learn to take something off regardless of what type of trader we're trading within either
181 00:37:13,260 --> 00:37:14,010 intermediate term,
182 00:37:15,660 --> 00:37:25,350 short term, day trade or scalping. But if you are marrying the vein here and looking to be a seller on this Tuesday, with an overall higher level
183 00:37:25,350 --> 00:37:34,620 intermediate term bullishness underway, you'll marry this vein here and you'll if you don't manage your stops, right, okay, you can get killed. Okay, look at
184 00:37:34,620 --> 00:37:43,080 me, it didn't take very long for this market, come back up to that high here.  Okay, so all those folks that were shorting here and didn't use proper trade
185 00:37:43,080 --> 00:37:53,400 management, okay, and risk controls and preserving capital and taking profits.  As the market moves lower, if you were thinking get in, I'm gonna get out all my
186 00:37:53,400 --> 00:38:01,470 profits at my target. That's it. It's either all or nothing, well, guess what, you boom, you got enough. Okay, that's what this video is going to be dealing
187 00:38:01,470 --> 00:38:10,290 with why it's important for you to take something off, because you're never going to be 100%. As long as I've been doing this, almost 20 years, I'm not
188 00:38:10,350 --> 00:38:19,830 always right. I'm not always right to where it's going to go to. Okay, so I work within a 75 to 80% range of what I think the move is going to do a drop back
189 00:38:19,830 --> 00:38:27,870 down to about 80%, sometimes even 70% of what I expect to see it in terms of magnitude moving higher or lower. And that's where I'm trying to get to, I'll
190 00:38:27,870 --> 00:38:36,930 let the rest of these guys out to beat their chest and say, Look, man, I got all the move, good, I applaud you. But over time, you will not be doing that. I
191 00:38:36,930 --> 00:38:46,140 guarantee you, you will not be doing it. So don't go into this game thinking that that's what you should be doing. Okay. So now with the five day average
192 00:38:46,170 --> 00:38:54,930 daily range mentioned briefly that you should be always trying to take some profit off there. Okay, let's talk about multiple time frame trading, okay,
193 00:38:54,930 --> 00:39:05,310 multiple timeframe trading. Again, we discussed obviously, the daily chart is used for intermediate term trading, okay or swing trading, then you have the
194 00:39:05,310 --> 00:39:16,710 short term trading which is classified and the analysis is done with a four hour chart. Then you have the day trades that are arrived by analysis on a one hour
195 00:39:16,710 --> 00:39:27,270 chart, and then anything at 15 minutes or five minutes is obviously scalping.  Okay. So, when I say scalping, I'm not talking to three pips and five pips and
196 00:39:27,270 --> 00:39:40,080 six pips that's not that that to me. That's, that's goober trading. Okay, if you can't at least make 15 to 20 pips on the setup. Don't even do it. Okay, now I
197 00:39:40,110 --> 00:39:46,710 want How am I saying, if you can't make, there's no guarantee that anything's gonna unfold, it's just like, reward or risk. There's no guarantee that those
198 00:39:46,710 --> 00:39:57,870 things are panning out. But if you don't at least plan to hold trade to make at least 15 to 20 pips, if it moves favorable for you, then it should not be taken
199 00:39:57,900 --> 00:40:05,790 as a trade. That's just the way I look at it. You may argue with you and say, you know, I won't I can make 10 pips 20 times a day. Great, then you're a good
200 00:40:05,790 --> 00:40:14,400 trader, and I'll leave it there. But you're watching this video wanting to know what I do, not necessarily having to have to do it. But I look at the market
201 00:40:14,400 --> 00:40:23,220 where if I can't make at least 15 and 20 pips, or at least willing to hold it in that in that magnitude of pips, I'm not taking the trade, okay. And that's
202 00:40:23,310 --> 00:40:30,720 usually where I'm using it to either take something off the trade or aggressively move the stop up to even or taking some of the risk off at least.
203 00:40:31,530 --> 00:40:41,460 So now, because we classify the trade in terms of intermediate term, short term, day trades, and scalping, we have to also understand that there is a
204 00:40:41,520 --> 00:40:52,980 classification for trading in sync and out of sync. Okay. And what do I mean by that? Well, the two higher time frames, which is the daily and four hour, if
205 00:40:52,980 --> 00:41:02,850 you're trading in those timeframe, directional premise, then you are classified as trading in sync, regardless of what timeframe you're trading. Now, you can
206 00:41:02,850 --> 00:41:14,730 trade counter trend or counter sync, if you were out of sync rather, as a day trader and a scalper, okay, we can actually short term trade, you know, counter,
207 00:41:15,210 --> 00:41:22,080 the higher timeframe, okay, but you got to be very, very nimble doing that. So I'm not going to advocate doing that in this video series. But you see me a lot
208 00:41:22,080 --> 00:41:33,840 of times in my market reviews or my trade recaps that I do on YouTube. It may go against what the higher time frames are saying, but I'm still netting pips. That
209 00:41:33,840 --> 00:41:44,520 comes with experience, okay. I do it just to show you that you can make money without a directional premise or bias, but it's just better for your trades if
210 00:41:44,520 --> 00:41:54,900 you're trading in sync with that daily and or for our timeframes. Okay? So, if you're day trading in sync, that means you're gonna be if the higher timeframe
211 00:41:54,900 --> 00:42:04,740 daily or for our bullish, then your day trades, if you're a buyer, then you're trading in sync. Okay, just remember that if you're selling in a day trade or
212 00:42:04,740 --> 00:42:12,510 scalping short, while the daily and or for our our bullish, okay, you are out of sync, okay, or your counter trend trading.
213 00:42:14,550 --> 00:42:26,460 That's a very, very important rule to understand in terms of your analysis.  Because if you can't generically define your market environments like that, or
214 00:42:26,460 --> 00:42:37,500 you're trading within the current environment, in my opinion, you're trading in the dark, okay, you will not be rule based, you'll be seeing moves like this in
215 00:42:37,500 --> 00:42:43,890 here, it's really dropping off really handsomely, and you're gonna think, well, it's gonna probably come down here deeper. Well, it may not, as you see here, it
216 00:42:43,890 --> 00:42:51,510 doesn't, and then starts to rally. You know, the other way, that's very demoralizing, if you haven't taken some profits off as the market moves lower.
217 00:42:51,510 --> 00:42:58,320 And if you didn't even adjust your stop, the guys want to sell up here, and I'm going to keep my stop here and take all or nothing, well, got nothing again, for
218 00:42:58,320 --> 00:43:08,430 the time and effort you put into the market, it's important that you have something out, take something off the trade, okay? It doesn't make a difference.
219 00:43:08,490 --> 00:43:19,800 If it was 20 bucks, you got 20 bucks, it's 20 more dollars than you had before you put the trade on, okay? I used to be, I'm gonna get my exit, or I'm gonna
220 00:43:19,800 --> 00:43:28,980 get stopped out. And that's just the way it is. And man, I got chewed up. He just can't do that as a developing trader, because number one, your mind's not
221 00:43:28,980 --> 00:43:35,970 going to let you do it. Okay, you're going to start saying, Well, you know, I took this many losses, I'm going to be over trading, and I'll take more trades.
222 00:43:35,970 --> 00:43:44,250 Now, I'm going to widen my start, because I know I'm right. Or I'm going to be buying more and over leveraging, okay, and I'm gonna get out sooner than I
223 00:43:44,250 --> 00:43:53,100 should, because I just need to get that money back. And this causes all kinds of havoc, emotionally and psychologically. And then you forget about what you're
224 00:43:53,100 --> 00:44:02,460 supposed to be doing. Because you're focusing too much on the pain. Okay? So by having these rules in place, it helps you define what it is specifically you
225 00:44:02,460 --> 00:44:11,130 should be doing. And that alone is what your focus should be. Because think about if your perspective is limited to just just those things, do you have time
226 00:44:11,130 --> 00:44:19,500 to be worrying about where it's going to go to if you already have a stoploss defined, either going to watch your six and collapse 50% of the trade, or you're
227 00:44:19,500 --> 00:44:27,210 going to go Let it go down and hit your stop. Period. That's it. What's the worry about? If you're worrying is because you probably put too much on the
228 00:44:27,210 --> 00:44:38,490 trade, or you probably been trading too much. It's just that simple, guys, but we want to over analyze it and blame something else outside of us. Okay, I get a
229 00:44:38,490 --> 00:44:48,450 million emails asking what it is that makes me do the wrong things. Well, and apparently that's human nature. And we've said this earlier, if you see a sign
230 00:44:48,480 --> 00:44:54,960 on the lawn says don't walk on the grass. What do you invariably want to do as a kid if you have children, my kids want to do it all the time. Don't touch wet
231 00:44:54,960 --> 00:45:03,630 paint, man. They got paint all over hands off, guys, but Gosh, it's got paint all over it. Okay, there. New Nikes boom, it's got that new stain that was on
232 00:45:03,630 --> 00:45:09,060 the picnic table that we were walking through the park and says, Don't touch this, it's got wet paint on it got little rope around it. Okay, well, we're
233 00:45:09,060 --> 00:45:17,730 gonna go through the rope, cross the red tape, if you will, the hazard warning, and we're going to do the very thing that you're not supposed to do. Okay,
234 00:45:17,730 --> 00:45:26,700 that's human nature. So that gets back to are you going to be a rule based individual, because if you can't follow rules, you're not going to do well with
235 00:45:26,700 --> 00:45:38,520 this business, you have to be, you have to be disciplined, and have it defined very, very clearly what it is specifically that you should be doing. If your
236 00:45:38,580 --> 00:45:49,200 trade plan is very detailed. One can argue I have too many moving parts of mine in my plan, okay, I don't have a whole lot of moving parts in my trading plan, I
237 00:45:49,200 --> 00:45:58,110 have a whole lot of moving parts and my understanding how the markets themselves work. That's why I'm so effective. That's why my analysis before it happens, is
238 00:45:58,110 --> 00:46:08,580 so accurate. That that's the, that's the premise, to why I'm doing these things is I want to communicate that to you. You can do these things, but it's going to
239 00:46:08,580 --> 00:46:20,880 take time for you to overcome the you. Okay, so by having a classification of your trades, and understand what you're trading and why you're trading, it will
240 00:46:20,880 --> 00:46:30,570 help you define where you're going to take profits at. Okay? So avoid that I'm getting all of my maximum profit, don't do that. Okay. First of all, you're not
241 00:46:30,570 --> 00:46:34,170 going to be right more times in you think you are, and
242 00:46:35,520 --> 00:46:42,420 you just want to pay yourself something. Okay? And having that mindset that I'm going to have the maximum profit always because think about when you first
243 00:46:42,420 --> 00:46:48,420 started, you got in there, you looked at the charts, what are you calculating me, I'm gonna make 20 pips a day, I can do this, this, this, this and all of a
244 00:46:48,420 --> 00:46:58,020 sudden, in nine months, your millionaire one five an hour training camp, it doesn't work like that, guys, it does not work like that. You have to overcome a
245 00:46:58,020 --> 00:47:08,430 whole lot of internal things before these charts ever do anything for you. So the way you grind that out is begin with a rule based system. Okay, and the more
246 00:47:08,430 --> 00:47:22,080 rules you have that are clearly defined, the less room areas for emotional, fear based and greed based trading. It's just that simple. Okay, so now let's move on
247 00:47:22,080 --> 00:47:39,330 and take a look at the ICT split gain ratios. Okay, guys, we're gonna be looking at the intermediate term ratios. Now, what is a split gain ratio? Well, it's,
248 00:47:39,540 --> 00:47:49,530 it's something that this really does classified, just for teaching purposes, because I don't have any real specific I do this every single time. I don't, I
249 00:47:49,530 --> 00:47:58,710 don't have that. Okay, so I'm giving you these ideas to stimulate your decision making in your own trading, okay. So don't think for a minute that this is
250 00:47:58,710 --> 00:48:08,850 always going to unfold exactly like this, there just obviously means for you to stimulate your decision making. And you can come up with your own way of using
251 00:48:08,850 --> 00:48:16,560 these as examples, okay, to arrive at what you're most comfortable doing. Okay?  And the only way you're going to learn which one you're comfortable doing is by
252 00:48:16,560 --> 00:48:32,040 just simply jumping in the pool and joining. Okay. So an area term ratio, okay?  would be how am I going to take my profits, okay, assuming that you have
253 00:48:32,610 --> 00:48:49,530 $100,000 leverage in a trade or once you have what we considered a standard lot in the Euro, that would be $100,000. But each PIP is gonna be worth $10 per
254 00:48:49,590 --> 00:49:01,530 movement up or down, gain or loss out of your account. In this example, okay, for me at turn ratios, if you are in sync, trading in the higher timeframe daily
255 00:49:01,530 --> 00:49:17,490 and or for our directional premise, okay, you can take your profits in stages of 20 2020 2020. Okay, in other words out of 100% of that total position, okay, you
256 00:49:17,490 --> 00:49:28,830 could take 2000 of leverage off at your first target, and your second target taken off 2000 of leverage off technology. 1000 off the third target, fourth,
257 00:49:29,220 --> 00:49:42,960 and final fifth. Okay, that's the like an ideal scenario, if you want to scale off in five position, exit points, fives a whole lot. But again, we're talking
258 00:49:42,960 --> 00:49:53,190 about in return trading, so you could take that first 20 off at the average daily range for that particular day you took the trade on, okay. And then the
259 00:49:53,190 --> 00:50:05,190 next 20 could come off at a previous daily high or a intra week high and then Next one could be a monthly high. Or we could start looking at Fibonacci 127 and
260 00:50:05,520 --> 00:50:17,460 162. extensions. Okay, any one of those things could be applied here. Okay, but it's a matter of how much am I taking off. If you're going to take out for
261 00:50:17,910 --> 00:50:33,570 scaling, you could do 2525 25 and 25. But where you're taking those profits at, okay, you're taking 20 $500 of the 100,000 that you put the trade on at, at
262 00:50:33,570 --> 00:50:50,700 logical levels of profit taking old highs, or lows. Fibonacci extensions, okay.  Previous range retracements. In other words, like, move say this, this high
263 00:50:50,700 --> 00:50:58,980 here, down to this low as price moved up into what will be considered the 79% retracement level here. If you were long back in here, you'd be looking to take
264 00:50:58,980 --> 00:51:08,730 some profits in here. Okay. And then obviously, if it gets to this level here, we could take profits there as well. And then price starts to retrace. Okay,
265 00:51:09,120 --> 00:51:18,900 assuming that we were able to, you know, be a part of the next leg up. If you were buying in here, okay, this old high would be an example, this old high end
266 00:51:18,900 --> 00:51:26,400 would be an example. And then the extensions. beyond that. Okay, like this, if we have our fib
267 00:51:30,180 --> 00:51:41,760 brought down to that low, or 127. An ideal level to take profits at the 162 would be a nice level. And ultimately, our higher level. Profit objective is
268 00:51:41,760 --> 00:51:57,330 200. Extension. We're here. Okay. So it's using all the concepts to gather in a framework where it allows you to just really plan your exits, and look for
269 00:51:57,360 --> 00:52:08,100 reasons to do it, not simply because I made this much money, where are we reaching for it in terms of price action, okay, and applying over tools. If you
270 00:52:08,100 --> 00:52:18,000 want to scale out in three stages, you could do 20% of the position, and then 40 and 40, holding on to those last two portions at 40 and 40. Because you want to
271 00:52:18,000 --> 00:52:25,950 be hopefully holding a larger percentage of the trade, because you're trading in a higher time frame, directional premise, okay, or it will be considered in
272 00:52:25,950 --> 00:52:40,050 sync, okay. If you're trading out of sync, in your against the daily and or for our human scale, in five stages, you can take 40% off initially at a price
273 00:52:40,050 --> 00:52:52,050 objective, and then 1010 1010. Okay, leaving small portions on, okay. And even if sake of luck, even though you're against the hard timeframes, you could still
274 00:52:52,770 --> 00:53:03,030 manage to get some pretty good gains, like we have here. And like we have here, okay, so it was against the hard timeframes. But you still able to hold a little
275 00:53:03,030 --> 00:53:13,950 bit of peace of the position and maybe get some more of a volatility in your trade. If you want to scale on it for stages, you could do 50% of the position,
276 00:53:14,160 --> 00:53:25,650 and 30. So you got 80% of the trade off, then you can hold on for the final 20% scalars, often 10 and 10, then you have three scale stage, if you want to take
277 00:53:25,680 --> 00:53:39,810 60% off, that would be 40%, you can scale off in two more stages at 20%. Again, using logical levels of price levels, and Fibonacci, simply applying that the
278 00:53:39,840 --> 00:53:50,280 overlapping of reasons or confluences for for price to be moving to those levels. That's where you'd be doing these, these split gain ratios. And that's
279 00:53:50,280 --> 00:54:01,080 where I'm going to be taking my position of and how much of the position that I initially put on what I've been taking off. Now this gets back to your trade
280 00:54:01,080 --> 00:54:10,620 entry. Okay, you can do this several different ways you can do it, you can set up discipline up and do it as individual orders. Okay, now words, if you're
281 00:54:10,620 --> 00:54:24,300 trading 100,000, you can for the assuming that you're trading in sync, and you want to scale out three, three levels. You could have your entry, limit order
282 00:54:24,420 --> 00:54:38,460 three separate entry limit orders to get the same price, then your first of the three, you could look to take profit off at a first objective, okay. But the
283 00:54:38,490 --> 00:54:46,800 positions would be set up in such a way that you would have 2000 leverage 4000 leverage and then 4000 leverage. Okay, so you're gonna take the first 2000 off
284 00:54:46,800 --> 00:54:57,060 at your first price objective, remaining two positions would be open. And then the second one would come off at another logical level of price objective. And
285 00:54:57,060 --> 00:55:08,010 then once it's triggered the remaining order of $4,000 would be sitting in the marketplace and either it gets to its position or stopped out or whatever. Or
286 00:55:08,040 --> 00:55:19,170 you could just do the trade as $100,000 and then go in and set your limit order to take partials off. Okay, and some platforms will allow you to do that. I
287 00:55:19,170 --> 00:55:31,320 don't know what every platform each of you are using, you just got to look and see what is available to you. Okay. Let's move on to the next one. Okay, short
288 00:55:31,320 --> 00:55:47,010 term ratios. Again, assuming that we're trading in sync with the daily, the insync ratios would be taking 30% off, if you're scaling out at three, you in
289 00:55:47,010 --> 00:55:55,560 this case, it looks a little different, because I'm taking the smaller one first. Because I want to have the maximum amount of leverage still in the
290 00:55:55,560 --> 00:56:05,940 marketplace in my position. So I'm gonna take 30% off, and then take 35% off the second profit objective, and then remaining 35% would be taken at the third and
291 00:56:06,150 --> 00:56:16,110 ultimate price objective that I would have for that short term trade 25%. If I want to scale out in two stages, 25% at the first one, and then 75% at the
292 00:56:16,110 --> 00:56:17,310 second price objective.
293 00:56:18,600 --> 00:56:28,290 And give you an illustration of what that might look like, is if I'm trading with a four hour chart, again, it all I did was this gear down, I didn't do
294 00:56:28,290 --> 00:56:39,450 anything, I didn't pick anything, just it just gave me this chart here. assume for a moment that I want short here, on this optimal trade entry. Right here in
295 00:56:39,450 --> 00:56:50,010 back into this order block in here. So if I went short in here, when that 131 80 level, the first price objective was be down here, this old low, which is the
296 00:56:50,160 --> 00:57:01,260 reaction low from this point here, down here. That would be my first price objective. Again, scaling out while short term trade. At that point here, it'd
297 00:57:01,260 --> 00:57:14,670 be 146. position. I'm sorry. 146 pips for the first scaling out, okay. So if I'm scaling out in two stages, 25% would come off the trade right there at 140. Some
298 00:57:14,670 --> 00:57:34,110 pips, the next point of the ratio would be 75%, I would take that out at either the 127 extension, or the 162. Extension, conservatively, but it's gonna say the
299 00:57:34,110 --> 00:57:42,750 127, we're not going to say we got everything down on the here. If you got to the 127. The remaining portion that would be in the trade would profit
300 00:57:44,460 --> 00:57:58,200 hypothetically, obviously, to that price point here of 191. pips, okay. And just for sake of completeness, if you use the 162 extension as your final position,
301 00:57:58,200 --> 00:58:11,730 you'd make 248. And if you held for the 200, extension, you can make 310 pips, okay, and you would just do the math on what you wouldn't make or risk on that
302 00:58:11,730 --> 00:58:26,280 trade. Now, if you're trading out of sync, okay, for short term trading, you want to take larger portions off sooner, so you would take 60% of the trade off,
303 00:58:26,460 --> 00:58:38,190 and then two remaining positions at 20 and 20. Okay. And again, all you're doing is is looking for levels to take your profits out at that ratio in terms of your
304 00:58:38,190 --> 00:58:47,130 open position, initially, you're scaling off a percentage, in other words, in this case, out of sync, you would take 60% off initially at your first target,
305 00:58:47,490 --> 00:58:56,790 and then 20% off at your second target. And then 20% remaining, would come off at your third and ultimate price level. Okay. And in a good example, that would
306 00:58:56,790 --> 00:59:07,590 be 60% off at an old higher low that you use your fib from, and then 127 would be coming off at 20%. And then 162 extension on what 200% would come off on that
307 00:59:07,590 --> 00:59:18,480 final 20% of the initial position. And if you want to do two stages on scaling, that you're out of sync with, on the higher time frames, you would take 80% off
308 00:59:18,510 --> 00:59:29,970 initially and then let your 20% remaining on the position. Go to your second and final objective. And obviously you can do double tap, which is 5015 onwards, you
309 00:59:29,970 --> 00:59:37,830 take your first objective is half vision comes off moody breakeven and then you hold for your second objective and you don't care what happens at that point.
310 00:59:39,150 --> 00:59:50,880 Okay, and moving on to our day trading ratios. Okay, looking at this, if you're trading in sync, you take 30% off of your position on the first target, and on
311 00:59:50,880 --> 01:00:00,870 the second target. It takes 60% off and then you would leave 10% to see what happens. Okay? Because you again, just because you're sure You're day trading
312 01:00:00,990 --> 01:00:10,800 doesn't mean you can't try to capitalize on a move that will most likely continue on for several days. Again, day trading, don't think I got to get out
313 01:00:10,830 --> 01:00:20,370 all of my position today, take a good chunk of the market out and move to no risk and lock in profits. But leave a little piece on it because you may catch a
314 01:00:20,370 --> 01:00:33,840 lot more of the daily range increase going into Friday, or it may even continue going on for weeks. If it works its way where such your your stop is never
315 01:00:33,840 --> 01:00:43,470 tagged, you'd still be in the market as it continues to move in your favor.  Obviously, if you want to move out in in three stages, and you have all three
316 01:00:43,470 --> 01:00:53,430 timeframes in sync, okay, you could take 20% off 20% off your first two targets, and then leave 60% remaining for your ultimate price objective. That's again,
317 01:00:53,460 --> 01:01:00,240 only if you're trading with all timeframes in sync and every does things is loaded for it to move up. And if you don't do it in two stages, you would just
318 01:01:00,240 --> 01:01:05,610 take 20% off your first target and leave 80% for your ultimate price objective.
319 01:01:07,020 --> 01:01:20,460 The other words, in other words, if you're using a day trading entry, to get in sync with a position or animate term trade based on the daily timeframe. So in
320 01:01:20,460 --> 01:01:28,950 other words, that's the reason why you would be holding 80% just taking 20% off and holding it for you know, as much as weeks. And if you're trading out of
321 01:01:28,950 --> 01:01:35,400 sync, you would take obviously in three stages, you will take 80% of the position off of your first target to remaining positions, you can take off at
322 01:01:35,610 --> 01:01:46,410 10% and 10% giving you your full 1% off. And in two scaling stages you could do against the higher timeframe, you would take 70% of the position trade off
323 01:01:46,770 --> 01:01:56,160 remaining 25%, you would take at your second price objective. And obviously if you want to use still simply just do double tap when you're unclear. Okay, in
324 01:01:56,160 --> 01:02:03,180 other words, if you just don't know if you're in sync or not. And you're you're day trading it just simply it's easy used to double tap, okay, take half the
325 01:02:03,180 --> 01:02:11,160 position off at your first objective, go to breakeven, and then look for your second objective 127 or wants to do extension period. Short and sweet, nothing
326 01:02:11,160 --> 01:02:30,180 fancy. Okay, moving on to our last ratio is scalping ratios. Again, this is for 15 to 30 pips range, that type of trading, either hold for your stock to be hit,
327 01:02:30,330 --> 01:02:39,660 or your target, okay, and either take a loss or it's you risked initially on the trade, or you go to breakeven, other words, if you're able to trim some of that
328 01:02:39,660 --> 01:02:48,960 risk away. That's pretty much it, that's what you're trying to do. In an ideal world. If everything's in sync, that's how you trade it, you look for your stop
329 01:02:48,960 --> 01:02:59,460 loss at maximum loss or target. Or if it allows you to trim some of your risk away, you move your stop loss closer to breakeven, eventually into profit. But
330 01:02:59,460 --> 01:03:06,030 that's, that's, that's scalping for you. I'm not gonna try to give you too many things for Scott, because I really don't think traders should be doing that. But
331 01:03:06,240 --> 01:03:16,410 you know, there's a group out there that wants to hear about it. So there you go. Or you can simply just use double tap, change to get to 15 to 30 pips, you
332 01:03:16,410 --> 01:03:26,610 take 50% of the position off, and then you can leave, position open and catch anything that would be in sync with the hard timeframes. If your counter trend,
333 01:03:26,790 --> 01:03:37,830 or out of sync from the foreign hour and daily, always watch your six, you would look to take 50% of the trade off, if the trade is questionable, and just manage
334 01:03:37,830 --> 01:03:51,510 it like you would, if you're trading in sync, okay, so it's really a generic way of looking at how I scale out profits, and how I manage the position. I
335 01:03:51,510 --> 01:04:02,460 generally have what ratio in mind before I even put the trade on, okay, the only time that it will deviate is when I'm in a intermediate term trade, I may elect
336 01:04:02,460 --> 01:04:15,600 to take more or less of the position off at the second, third, fourth and fifth stages, it may become a third stage, a three stage trade, where I take all my
337 01:04:15,600 --> 01:04:24,450 profits, if it moves in my favor, versus a five stage scaling out and loads if I think it was going to move to the 200% extension. And I'm in that move
338 01:04:24,450 --> 01:04:34,230 favorably. And I've taken off my first two scaling stages. That third, fourth and fifth actually may just drop down to, I'm just gonna take it off at the
339 01:04:34,230 --> 01:04:43,380 fourth, or I'm going to drop it down to what would be considered the open remaining position of the trade say it's 30% of the trade. I may take, you know
340 01:04:43,380 --> 01:04:56,280 15% off at one level and in 15% off the another level. So, again, don't think that you're locked into these ratios. This is a means of you, deciding what you
341 01:04:56,280 --> 01:05:06,000 want to do at the price levels that we've talked about in this course, that means old highs and lows that you use your reference points for your fibs. Your
342 01:05:06,030 --> 01:05:14,340 127. Extension, once you see two extension, and then your two on an extension, that's it, there's nothing more to it, there's nothing difficult about it, it's
343 01:05:14,340 --> 01:05:25,080 just a matter of planning your trade around that analysis, and where those levels are, how much you're going to do, of profit taking, when it gets there.
344 01:05:25,080 --> 01:05:31,980 And preferably, you want to have those in form of limit orders, you can always manage the limit orders. After they're already in place, treat them like stop
345 01:05:31,980 --> 01:05:38,550 loss orders, okay? Because many times, you'll be surprised how fast some some markets will move in, you'll get to your first price objective. And if you
346 01:05:38,550 --> 01:05:49,020 didn't get that, and it recedes back to your stop loss, again, very demoralizing. Okay, so I counsel you to tell us these as templates, if you will,
347 01:05:49,320 --> 01:06:01,950 to frame your your trading and your your level of scaling up profits, that's really all there is to it, there is no magic behind it. You What you see here
348 01:06:01,980 --> 01:06:06,660 for your 2080 could very easily be, you know, 70 and 30,
349 01:06:06,810 --> 01:06:20,940 if no iron set of rules where you have to do it this way and only, okay, it's a unique thing for us as traders, we can tailor this stuff to our own personality.
350 01:06:20,940 --> 01:06:29,580 So again, it's it's a means of stimulating decision making on your part to scale out something and really to stimulate and try to, you know, inject the idea that
351 01:06:29,580 --> 01:06:37,650 you should be taking something as profits as the trade unfolds, because just simply because you think it's going to go up to a specific price level, there's
352 01:06:37,650 --> 01:06:46,860 no guarantee it's doing that. And it may not get there without coming back down to another previous level. And it may be a level your stops at, okay, so pay
353 01:06:46,860 --> 01:06:57,390 yourself, get something out of the trade you, you've invested time and effort and probably fear and worry about missing the move in the trade setups. So once
354 01:06:57,390 --> 01:07:09,570 you're in and you get some profits, get some of it out. Okay. So that's pretty much it for this teaching session. in this, in this video, I just want to give
355 01:07:09,570 --> 01:07:20,250 you some ideas about what we're going to be dealing in the eighth episode, and how to get prepared for it. Our accounts, you obviously go back through all the
356 01:07:20,250 --> 01:07:30,150 previous videos, okay? And that includes this one, goes through your notes, make sure you have a good collection of notes, okay, and read those notes, you don't
357 01:07:30,150 --> 01:07:37,020 have to see, see the videos over and again, once you go through it one more time, but your notes, you should read them at least once a day, whether you're
358 01:07:37,020 --> 01:07:44,730 trading or not read them once a day. Because by doing that, it'll constantly feed your mind. And you remember these things, and you see certain things
359 01:07:44,730 --> 01:07:51,390 unfolding in your charts. Oh, yeah, that's that thing he was talking about?  Well, that's that in event that usually takes place. And then you'll start to
360 01:07:51,390 --> 01:08:03,630 learn how to engage the marketplace and price action will become a thing of expectancy. Okay? You expect these things, not? What's going to happen? Okay.
361 01:08:03,900 --> 01:08:12,540 When I found out I'm not asking what's going to happen, I'm expecting something to happen. It's a difference. Okay. If it if it went over your head, rewind
362 01:08:12,540 --> 01:08:20,460 again, listen to that. It's very different perspective. As a professional trader, I anticipate something, whereas novice traders are expecting something,
363 01:08:20,700 --> 01:08:28,320 what's going to happen? You know, you're asking everybody on the phone, what do you think the Euro is going to do? What differences what would I make, okay,
364 01:08:28,320 --> 01:08:35,400 because really, you're going to trade on what I'm telling you, you shouldn't. So have that in your mind as you go through your videos, again, get some good
365 01:08:35,400 --> 01:08:43,620 notes, and we're going to be moving into a really, really cool, final episode.  And a lot of guys that have been on the fence about my concepts will, I think
366 01:08:43,620 --> 01:08:50,100 will be pleasantly surprised on how useful that video will be. Until then, guys wish good luck and good trading.
367 01:08:55,980 --> 01:09:14,430 Open joy distance storming and coming up in the last an eighth in our series, escape any evasion. Now this is pretty much like my be all end all for
368 01:09:14,460 --> 01:09:28,410 application for my tools. I get a lot of flack from the guys that aren't into me, or into the tools or just want to be adversarial. Or they'll say that I have
369 01:09:28,410 --> 01:09:41,790 too many components. And while I have a very vast understanding of market analysis concepts and techniques, I'm not always using every single tool. So
370 01:09:42,090 --> 01:09:51,900 it's just like a carpenter. You know, they may have a toolbox full of all kinds of tools, but you're not really you're driving a screw in with a ruler. So
371 01:09:52,470 --> 01:10:08,010 there's certain times that you need a specific tool or where a tool is multifunctional. Okay, but I did my very, very best to try to concise, condense
372 01:10:08,010 --> 01:10:22,560 rather, and make it more concise as to when I reach for a specific tool, or application or technique or concept. And when I avoid not using it at all, and I
373 01:10:22,560 --> 01:10:35,100 set it up in such different way, it's like a flowchart. And I think what you'll be surprised is that I've applied how I sit down and look at the charts, from a
374 01:10:35,100 --> 01:10:47,130 top down analysis down to the smaller timeframes. And what goes through my mind as I do the analysis, okay, and it's kind of like a if then format. So if the
375 01:10:47,130 --> 01:11:02,670 market is presenting me this specific criteria, then I will do this, this or that. And if those functions are met with you even more in marking conditions,
376 01:11:02,970 --> 01:11:21,750 then I moved to another stage in my analysis. So it allows you to remove all the ambiguity, all of the fog, if you will. I have a lot of military themed concepts
377 01:11:21,750 --> 01:11:34,440 or titles or teaching templates. And that's just my personality. I, you know, I've never been in the military. But I think by having this framework, it'll
378 01:11:34,440 --> 01:11:46,440 allow you to have like a plan of attack, okay. And it will give you a means of systematically attacking the market. And then you doing your own research and
379 01:11:46,440 --> 01:11:57,540 recon, if you will. And then you're moving out into the fields and doing that your very own without having any kind of input or stimulus on my part or anyone
380 01:11:57,540 --> 01:12:08,940 else's. Because that's really what we're getting at, we're trying to be building a measure of consistency, obviously, a means of limiting risk as best we can, we
381 01:12:08,940 --> 01:12:18,840 can't remove 100%. But we're going to do our very best in our trading to try to do that very thing. And at the end of the day, we should be hopefully moving
382 01:12:18,840 --> 01:12:27,300 towards profitability, it's never guaranteed, I can't guarantee it, no other mentor teacher, or author of courses can do that. So
383 01:12:28,860 --> 01:12:39,420 while it is my goal to try to give you a roadmap, if you will, on how I break down and digest the marketplace, it will still and I'm promising you, it will
384 01:12:39,420 --> 01:12:48,990 still incur losses, if you trade with real money with these concepts, any of these concepts, not just simply what's released on the eighth and final video,
385 01:12:49,230 --> 01:12:59,640 but any of these concepts, you are still inherently taking on risk that will invariably result in you losing money, okay, so you have to be very responsible,
386 01:13:00,090 --> 01:13:10,050 and trade within a demo account. Only when you think that you're ready to do it with live money. You take that decision, and you make it your own and own the
387 01:13:10,050 --> 01:13:20,700 responsibility that comes along with it. If you have success with these concepts, obviously, I'm more than excited to hear what each of you are doing as
388 01:13:20,700 --> 01:13:30,360 you're developing. And that's, that's my motivation, and doing all these things, I don't take any monetary gain out of it. I don't request any kind of
389 01:13:30,570 --> 01:13:41,010 subscription fees or anything like that, I get a high off of everyone else's development. And when I see the feedback through either Twitter, or emails or on
390 01:13:41,010 --> 01:13:54,870 forums, that they've developed to a measure of consistently profitable or encouraging results that lead to more comfort levels in terms of not being
391 01:13:54,930 --> 01:14:03,210 fearful of taking a trade. You'd be surprised how many folks are still fearful, you just getting involved in in a demo account because they don't want to face
392 01:14:03,210 --> 01:14:14,640 that, that right or wrong conclusion to their decision. And I'll have more to say about that in the in the last installment, but what specifically will be
393 01:14:14,640 --> 01:14:26,790 covered in the escape and evasion? Well, we're gonna be over viewing the entire ICT scout sniper basic Field Guide series in its completeness, okay? Because we
394 01:14:26,790 --> 01:14:36,510 have to do this in a more comprehensive fashion. It just means we got to go through it all over again. But obviously, it's not going to go 12 hours long.
395 01:14:36,810 --> 01:14:44,580 But we're going to break it down and be more precise and concise with what specifically you're supposed to be doing with each one of these videos and the
396 01:14:44,580 --> 01:14:56,670 tools that are within them. And we'll be talking about adopting the ICT mindset to trading Okay, where we looking at the inner circle trader tips for continued
397 01:14:56,670 --> 01:15:08,370 trader development, a lot of things that have not spoke in this series have held on to to the last video, so I wait at least six hours long. It's gonna be long,
398 01:15:08,370 --> 01:15:17,910 but it's probably not gonna be six hours. And we're gonna be revealing the ICT flow chart to market analysis and to application so that way, you don't have to
399 01:15:17,910 --> 01:15:29,130 guess or wonder, what would I be using this tool? And it's this time, or would I be using that method at this time? No, you're going to have a very clear generic
400 01:15:29,130 --> 01:15:37,740 way of going through the market, breaking it down in a routine fashion that way, once you do it for a period of time, you won't need the flow chart, you'll just
401 01:15:37,740 --> 01:15:45,000 know simply, okay, well, it does this. So therefore, I'm going to do that. If it's done this, then I'm going to do that. So you're always going to have a
402 01:15:45,750 --> 01:15:53,670 response to the current environment, okay? So either you're going to take action, you're going to sit on your hands, or you're going to protect and
403 01:15:53,700 --> 01:16:04,320 preserve your capital, okay? There's your three engagements to the marketplace.  That's it, that's all you can do. Either you're going to take action, you got to
404 01:16:04,320 --> 01:16:12,630 do nothing, or you're going to protect and preserve your equity. Okay, there's only three things that can happen in the marketplace as you as a trader, and
405 01:16:12,660 --> 01:16:22,170 you'll have every possible scenario that I could fathom, okay, in a manner of looking at the marketplace, digesting it and saying, Okay, what should I be
406 01:16:22,170 --> 01:16:36,300 doing in the mindset that ICT or myself utilizes in in trading. And obviously, like all good things, you have to come to an end I'll have a few more words on
407 01:16:36,330 --> 01:16:41,580 accountability and consistency. So until then, guys, I wish you good luck and good trading.