Changes for page ICT - Sniper Course - 07 - Multiple Targets module.srt

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3		-ICT: folks this is ICT with the scout
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	2	+|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
	3	+|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
	4	+|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
	5	+|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
	6	+|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
	7	+|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?
	8	+|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
	9	+|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
	10	+|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
	11	+|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
	12	+|11 |00:03:08,580 ~-~-> 00:03:11,550 |when not to use them. So let's move on.
	13	+|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
	14	+|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
	15	+|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
	16	+|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
	17	+|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
	18	+|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
	19	+|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
	20	+|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
	21	+|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
	22	+|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,
	23	+|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
	24	+|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
	25	+|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
	26	+|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
	27	+|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,
	28	+|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
	29	+|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
	30	+|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
	31	+|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
	32	+|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.
	33	+|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
	34	+|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
	35	+|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
	36	+|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
	37	+|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
	38	+|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
	39	+|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
	40	+|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
	41	+|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
	42	+|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
	43	+|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
	44	+|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
	45	+|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
	46	+|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
	47	+|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
	48	+|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
	49	+|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
	50	+|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,
	51	+|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
	52	+|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
	53	+|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
	54	+|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
	55	+|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
	56	+|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
	57	+|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,
	58	+|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
	59	+|58 |00:13:11,640 ~-~-> 00:13:14,130 |markets. I'm just not that type of trader, you know,
	60	+|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.
	61	+|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
	62	+|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,
	63	+|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
	64	+|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
	65	+|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
	66	+|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.
	67	+|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
	68	+|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
	69	+|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?
	70	+|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,
	71	+|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
	72	+|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,
	73	+|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
	74	+|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
	75	+|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
	76	+|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
	77	+|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
	78	+|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
	79	+|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
	80	+|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
	81	+|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
	82	+|81 |00:17:41,910 ~-~-> 00:17:43,020 |this candle here
	83	+|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
	84	+|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,
	85	+|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
	86	+|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.
	87	+|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
	88	+|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
	89	+|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
	90	+|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
	91	+|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.
	92	+|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
	93	+|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
	94	+|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
	95	+|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
	96	+|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
	97	+|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.
	98	+|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
	99	+|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
	100	+|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
	101	+|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,
	102	+|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
	103	+|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
	104	+|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.
	105	+|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
	106	+|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
	107	+|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
	108	+|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
	109	+|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
	110	+|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
	111	+|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
	112	+|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
	113	+|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
	114	+|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
	115	+|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
	116	+|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
	117	+|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.
	118	+|117 |00:25:39,060 ~-~-> 00:25:46,740 |Okay 134 86 or there abouts. Okay? And our entry
	119	+|118 |00:25:52,410 ~-~-> 00:25:58,920 |would be approximately down to where we said 135 15
	120	+|119 |00:26:03,930 ~-~-> 00:26:09,030 |Okay, so we have our entry points
	121	+|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
	122	+|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
	123	+|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
	124	+|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,
	125	+|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.
	126	+|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.
	127	+|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
	128	+|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
	129	+|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
	130	+|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
	131	+|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
	132	+|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,
	133	+|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
	134	+|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
	135	+|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,
	136	+|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.
	137	+|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
	138	+|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
	139	+|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
	140	+|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
	141	+|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
	142	+|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
	143	+|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
	144	+|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
	145	+|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
	146	+|145 |00:31:07,230 ~-~-> 00:31:09,180 |low and this low.
	147	+|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
	148	+|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?
	149	+|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
	150	+|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
	151	+|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
	152	+|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
	153	+|152 |00:32:17,400 ~-~-> 00:32:17,880 |result?
	154	+|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
	155	+|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
	156	+|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
	157	+|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
	158	+|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,
	159	+|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?
	160	+|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
	161	+|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
	162	+|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
	163	+|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
	164	+|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,
	165	+|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
	166	+|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
	167	+|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
	168	+|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
	169	+|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
	170	+|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
	171	+|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
	172	+|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
	173	+|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
	174	+|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.
	175	+|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
	176	+|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
	177	+|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
	178	+|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
	179	+|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,
	180	+|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
	181	+|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
	182	+|181 |00:37:13,260 ~-~-> 00:37:14,010 |intermediate term,
	183	+|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
	184	+|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
	185	+|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
	186	+|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
	187	+|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
	188	+|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
	189	+|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
	190	+|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
	191	+|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
	192	+|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
	193	+|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,
	194	+|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
	195	+|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
	196	+|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
	197	+|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
	198	+|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
	199	+|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
	200	+|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
	201	+|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
	202	+|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
	203	+|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.
	204	+|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
	205	+|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
	206	+|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
	207	+|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,
	208	+|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
	209	+|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
	210	+|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
	211	+|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
	212	+|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
	213	+|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.
	214	+|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
	215	+|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
	216	+|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
	217	+|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.
	218	+|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
	219	+|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.
	220	+|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
	221	+|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
	222	+|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.
	223	+|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
	224	+|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
	225	+|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
	226	+|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
	227	+|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
	228	+|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
	229	+|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
	230	+|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
	231	+|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
	232	+|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
	233	+|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
	234	+|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,
	235	+|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
	236	+|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
	237	+|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
	238	+|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
	239	+|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
	240	+|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
	241	+|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
	242	+|241 |00:46:30,570 ~-~-> 00:46:34,170 |going to be right more times in you think you are, and
	243	+|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
	244	+|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
	245	+|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
	246	+|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
	247	+|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
	248	+|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,
	249	+|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
	250	+|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
	251	+|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
	252	+|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
	253	+|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
	254	+|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
	255	+|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
	256	+|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
	257	+|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,
	258	+|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
	259	+|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
	260	+|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
	261	+|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
	262	+|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
	263	+|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
	264	+|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
	265	+|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,
	266	+|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
	267	+|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
	268	+|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
	269	+|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
	270	+|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
	271	+|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
	272	+|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
	273	+|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
	274	+|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
	275	+|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
	276	+|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,
	277	+|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
	278	+|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
	279	+|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
	280	+|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
	281	+|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
	282	+|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
	283	+|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
	284	+|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
	285	+|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
	286	+|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
	287	+|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
	288	+|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
	289	+|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
	290	+|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
	291	+|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
	292	+|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
	293	+|292 |00:56:16,110 ~-~-> 00:56:17,310 |second price objective.
	294	+|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
	295	+|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
	296	+|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
	297	+|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
	298	+|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
	299	+|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
	300	+|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
	301	+|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,
	302	+|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
	303	+|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,
	304	+|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
	305	+|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,
	306	+|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
	307	+|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
	308	+|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
	309	+|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
	310	+|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.
	311	+|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
	312	+|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
	313	+|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
	314	+|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
	315	+|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
	316	+|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
	317	+|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,
	318	+|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
	319	+|318 |01:01:00,240 ~-~-> 01:01:05,610 |take 20% off your first target and leave 80% for your ultimate price objective.
	320	+|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
	321	+|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
	322	+|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
	323	+|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
	324	+|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
	325	+|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
	326	+|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
	327	+|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,
	328	+|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
	329	+|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
	330	+|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
	331	+|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
	332	+|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
	333	+|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,
	334	+|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
	335	+|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
	336	+|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
	337	+|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
	338	+|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
	339	+|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
	340	+|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
	341	+|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
	342	+|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
	343	+|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
	344	+|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.
	345	+|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
	346	+|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
	347	+|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,
	348	+|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
	349	+|348 |01:06:01,980 ~-~-> 01:06:06,660 |for your 2080 could very easily be, you know, 70 and 30,
	350	+|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.
	351	+|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
	352	+|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
	353	+|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
	354	+|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
	355	+|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
	356	+|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
	357	+|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
	358	+|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
	359	+|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
	360	+|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
	361	+|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.
	362	+|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
	363	+|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,
	364	+|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,
	365	+|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
	366	+|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
	367	+|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.
	368	+|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
	369	+|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
	370	+|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
	371	+|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
	372	+|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
	373	+|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
	374	+|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
	375	+|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
	376	+|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,
	377	+|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
	378	+|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
	379	+|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
	380	+|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
	381	+|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
	382	+|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
	383	+|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
	384	+|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
	385	+|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,
	386	+|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,
	387	+|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
	388	+|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
	389	+|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
	390	+|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
	391	+|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
	392	+|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
	393	+|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
	394	+|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
	395	+|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.
	396	+|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
	397	+|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
	398	+|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,
	399	+|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
	400	+|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
	401	+|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
	402	+|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
	403	+|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
	404	+|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
	405	+|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
	406	+|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
	407	+|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
	408	+|407 |01:16:36,330 ~-~-> 01:16:41,580 |accountability and consistency. So until then, guys, I wish you good luck and good trading.
4	4
5		-2
6		-00:00:58,020 ~-~-> 00:01:02,640
7		-sniper basic Field Guide Part Seven in
8		-
9		-3
10		-00:01:02,640 ~-~-> 00:01:04,290
11		-our continuing series after this, we
12		-
13		-4
14		-00:01:04,290 ~-~-> 00:01:05,910
15		-only got one more installment left and
16		-
17		-5
18		-00:01:05,910 ~-~-> 00:01:07,710
19		-more complete. Okay, we're gonna be
20		-
21		-6
22		-00:01:07,710 ~-~-> 00:01:11,970
23		-looking at multiple targets, okay and
24		-
25		-7
26		-00:01:11,970 ~-~-> 00:01:13,830
27		-which specifically we'll be covering in
28		-
29		-8
30		-00:01:13,830 ~-~-> 00:01:17,070
31		-this presentation. We're going to be
32		-
33		-9
34		-00:01:17,070 ~-~-> 00:01:18,900
35		-reviewing the previous assignment,
36		-
37		-10
38		-00:01:19,530 ~-~-> 00:01:21,810
39		-discovering the average number of pips
40		-
41		-11
42		-00:01:21,810 ~-~-> 00:01:24,930
43		-intraday, a study on that. And we're
44		-
45		-12
46		-00:01:24,930 ~-~-> 00:01:28,350
47		-looking at ICT chart examples and stop
48		-
49		-13
50		-00:01:28,350 ~-~-> 00:01:29,280
51		-loss orders
52		-
53		-14
54		-00:01:29,309 ~-~-> 00:01:30,089
55		-revisited.
56		-
57		-15
58		-00:01:31,140 ~-~-> 00:01:32,430
59		-And we'll be looking at the average
60		-
61		-16
62		-00:01:32,460 ~-~-> 00:01:35,490
63		-daily PIP ranges. We're going to be
64		-
65		-17
66		-00:01:35,610 ~-~-> 00:01:38,880
67		-discussing when ranges contract and why
68		-
69		-18
70		-00:01:38,880 ~-~-> 00:01:41,100
71		-it's essential for you to be prepared.
72		-
73		-19
74		-00:01:42,630 ~-~-> 00:01:45,540
75		-And the 30 PIP stop loss and why
76		-
77		-20
78		-00:01:47,490 ~-~-> 00:01:49,200
79		-we're gonna be looking at the ICT split
80		-
81		-21
82		-00:01:49,230 ~-~-> 00:01:52,500
83		-gains ratio. Okay, and why is it
84		-
85		-22
86		-00:01:52,500 ~-~-> 00:01:54,150
87		-important to understand your trade
88		-
89		-23
90		-00:01:54,150 ~-~-> 00:01:54,840
91		-setups?
92		-
93		-24
94		-00:01:56,160 ~-~-> 00:01:57,120
95		-What is the concern
96		-
97		-25
98		-00:01:59,340 ~-~-> 00:02:00,960
99		-what makes a change different to any
100		-
101		-26
102		-00:02:00,960 ~-~-> 00:02:01,290
103		-other.
104		-
105		-27
106		-00:02:03,330 ~-~-> 00:02:05,460
107		-Why is classification essential to
108		-
109		-28
110		-00:02:05,460 ~-~-> 00:02:06,300
111		-profit taking?
112		-
113		-29
114		-00:02:08,550 ~-~-> 00:02:12,090
115		-And the ICT split ratios explained? And
116		-
117		-30
118		-00:02:12,090 ~-~-> 00:02:13,470
119		-we're gonna be discussing, are we in
120		-
121		-31
122		-00:02:13,470 ~-~-> 00:02:18,720
123		-sync or not? intermediate term ratios,
124		-
125		-32
126		-00:02:19,860 ~-~-> 00:02:23,850
127		-short term ratios, day trading ratios,
128		-
129		-33
130		-00:02:24,000 ~-~-> 00:02:29,370
131		-and finally, scalping ratios. And in
132		-
133		-34
134		-00:02:29,370 ~-~-> 00:02:31,320
135		-conclusion, we'll have one more
136		-
137		-35
138		-00:02:31,320 ~-~-> 00:02:33,330
139		-assignment and the last one in this
140		-
141		-36
142		-00:02:33,480 ~-~-> 00:02:36,360
143		-series. It will be basically a review
144		-
145		-37
146		-00:02:36,360 ~-~-> 00:02:38,040
147		-for you to go through all of the
148		-
149		-38
150		-00:02:38,040 ~-~-> 00:02:40,890
151		-previous videos one more time. Try to
152		-
153		-39
154		-00:02:40,890 ~-~-> 00:02:43,200
155		-gather up all your notes again. And
156		-
157		-40
158		-00:02:43,890 ~-~-> 00:02:45,720
159		-we'll be moving on to the final
160		-
161		-41
162		-00:02:45,720 ~-~-> 00:02:49,440
163		-conclusion. installment to this series.
164		-
165		-42
166		-00:02:49,860 ~-~-> 00:02:53,880
167		-I think what I have planned an outline
168		-
169		-43
170		-00:02:54,810 ~-~-> 00:02:58,410
171		-is still a little bit more to work to be
172		-
173		-44
174		-00:02:58,410 ~-~-> 00:03:02,700
175		-complete, but What I have so far you'll
176		-
177		-45
178		-00:03:02,700 ~-~-> 00:03:05,220
179		-be very, you'll be very surprised to see
180		-
181		-46
182		-00:03:05,220 ~-~-> 00:03:08,370
183		-how these tools are used and when to use
184		-
185		-47
186		-00:03:08,370 ~-~-> 00:03:11,040
187		-them and when not to use them. So let's
188		-
189		-48
190		-00:03:11,040 ~-~-> 00:03:11,550
191		-move on.
192		-
193		-49
194		-00:03:20,160 ~-~-> 00:03:22,050
195		-Okay, folks, we're looking at the Euro
196		-
197		-50
198		-00:03:22,050 ~-~-> 00:03:26,220
199		-USD. So 15 minute chart. And keeping in
200		-
201		-51
202		-00:03:26,220 ~-~-> 00:03:28,350
203		-mind with this teaching series,
204		-
205		-52
206		-00:03:28,350 ~-~-> 00:03:31,260
207		-obviously we talked about how trading in
208		-
209		-53
210		-00:03:31,260 ~-~-> 00:03:33,390
211		-line with the higher time frame daily
212		-
213		-54
214		-00:03:33,390 ~-~-> 00:03:35,850
215		-and using the nine and 18
216		-
217		-55
218		-00:03:36,960 ~-~-> 00:03:37,500
219		-moving
220		-
221		-56
222		-00:03:37,830 ~-~-> 00:03:39,390
223		-averages, Exponential Moving Averages
224		-
225		-57
226		-00:03:39,390 ~-~-> 00:03:43,170
227		-rather to kind of give you a buy model
228		-
229		-58
230		-00:03:43,380 ~-~-> 00:03:47,460
231		-for institutional flows. So more or
232		-
233		-59
234		-00:03:47,460 ~-~-> 00:03:50,400
235		-less, use this section of the
236		-
237		-60
238		-00:03:50,400 ~-~-> 00:03:54,060
239		-marketplace, basically, the 30th of
240		-
241		-61
242		-00:03:54,060 ~-~-> 00:03:57,240
243		-September to the fourth of October. So
244		-
245		-62
246		-00:03:57,240 ~-~-> 00:03:58,620
247		-you can pull that up on your charts
248		-
249		-63
250		-00:03:58,620 ~-~-> 00:04:00,480
251		-everybody the same markups on going here
252		-
253		-64
254		-00:04:01,080 ~-~-> 00:04:03,600
255		-and I have each day delineated for a
256		-
257		-65
258		-00:04:03,600 ~-~-> 00:04:05,610
259		-client and you can use an empty for by
260		-
261		-66
262		-00:04:05,610 ~-~-> 00:04:07,830
263		-holding down control and tapping why
264		-
265		-67
266		-00:04:09,809 ~-~-> 00:04:11,129
267		-see that happening here
268		-
269		-68
270		-00:04:12,780 ~-~-> 00:04:16,170
271		-and these horizontal lines just take the
272		-
273		-69
274		-00:04:16,200 ~-~-> 00:04:17,370
275		-vertical lines so if you see a little
276		-
277		-70
278		-00:04:17,370 ~-~-> 00:04:20,040
279		-bit better, this is delineating the
280		-
281		-71
282		-00:04:20,040 ~-~-> 00:04:23,160
283		-previous day. Okay, this is previous
284		-
285		-72
286		-00:04:23,160 ~-~-> 00:04:26,280
287		-day's high which is seen here and this
288		-
289		-73
290		-00:04:26,280 ~-~-> 00:04:28,560
291		-is the previous day's low which is seen
292		-
293		-74
294		-00:04:28,560 ~-~-> 00:04:31,110
295		-here. Okay, I'm going to share these
296		-
297		-75
298		-00:04:31,110 ~-~-> 00:04:34,860
299		-tools on the internet and
300		-
301		-76
302		-00:04:35,910 ~-~-> 00:04:36,570
303		-you'll be able to
304		-
305		-77
306		-00:04:36,990 ~-~-> 00:04:39,660
307		-download and apply them to your mt four
308		-
309		-78
310		-00:04:39,660 ~-~-> 00:04:40,620
311		-platform as well.
312		-
313		-79
314		-00:04:42,060 ~-~-> 00:04:42,810
315		-We're gonna look at
316		-
317		-80
318		-00:04:43,290 ~-~-> 00:04:45,450
319		-a few things here obviously, beginning
320		-
321		-81
322		-00:04:45,450 ~-~-> 00:04:49,290
323		-with the average PIP range, so this date
324		-
325		-82
326		-00:04:49,290 ~-~-> 00:04:55,650
327		-high to low. Using this here we have 78
328		-
329		-83
330		-00:04:55,650 ~-~-> 00:04:56,550
331		-pips see the middle
332		-
333		-84
334		-00:04:58,110 ~-~-> 00:04:58,800
335		-number here.
336		-
337		-85
338		-00:05:00,690 ~-~-> 00:05:03,570
339		-78 pips, okay? So
340		-
341		-86
342		-00:05:04,530 ~-~-> 00:05:06,810
343		-on this particular week this Monday It
344		-
345		-87
346		-00:05:06,810 ~-~-> 00:05:08,970
347		-was 70 pips for that particular day.
348		-
349		-88
350		-00:05:09,900 ~-~-> 00:05:12,150
351		-This trading day we had the high here
352		-
353		-89
354		-00:05:13,500 ~-~-> 00:05:15,810
355		-and the low formed right here, right
356		-
357		-90
358		-00:05:15,810 ~-~-> 00:05:16,590
359		-there on that candle.
360		-
361		-91
362		-00:05:18,600 ~-~-> 00:05:21,450
363		-So by looking at that range
364		-
365		-92
366		-00:05:23,339 ~-~-> 00:05:26,309
367		-okay we have a range of 71 pips, okay?
368		-
369		-93
370		-00:05:26,639 ~-~-> 00:05:29,819
371		-Very close to the previous day's daily
372		-
373		-94
374		-00:05:29,819 ~-~-> 00:05:35,369
375		-range. We have this range here, which is
376		-
377		-95
378		-00:05:35,369 ~-~-> 00:05:41,039
379		-103 or four pips or other Okay, again,
380		-
381		-96
382		-00:05:41,039 ~-~-> 00:05:43,499
383		-that's this day's high, this day's low.
384		-
385		-97
386		-00:05:43,859 ~-~-> 00:05:44,879
387		-And what this indicator does, it
388		-
389		-98
390		-00:05:44,879 ~-~-> 00:05:46,859
391		-actually plots the previous day's high
392		-
393		-99
394		-00:05:46,859 ~-~-> 00:05:50,219
395		-and low. So you can see graphically and
396		-
397		-100
398		-00:05:50,219 ~-~-> 00:05:51,719
399		-there's a lot of uses for that, but
400		-
401		-101
402		-00:05:51,749 ~-~-> 00:05:53,729
403		-we're not going to go into it here, but
404		-
405		-102
406		-00:05:53,849 ~-~-> 00:05:55,169
407		-you'll hear more about it as
408		-
409		-103
410		-00:05:56,370 ~-~-> 00:05:57,180
411		-we get into
412		-
413		-104
414		-00:05:58,860 ~-~-> 00:05:59,670
415		-the eighth
416		-
417		-105
418		-00:06:01,170 ~-~-> 00:06:02,430
419		-installment in the series.
420		-
421		-106
422		-00:06:02,850 ~-~-> 00:06:06,780
423		-Okay we have 64 pips on this range here.
424		-
425		-107
426		-00:06:07,230 ~-~-> 00:06:07,710
427		-Okay.
428		-
429		-108
430		-00:06:08,250 ~-~-> 00:06:10,470
431		-And now what do we what did we just see?
432		-
433		-109
434		-00:06:11,190 ~-~-> 00:06:16,620
435		-Okay we saw 7070 is, you know
436		-
437		-110
438		-00:06:18,329 ~-~-> 00:06:20,159
439		-the PIP range
440		-
441		-111
442		-00:06:20,699 ~-~-> 00:06:23,429
443		-hanging around that 70 to 80 PIP marker,
444		-
445		-112
446		-00:06:24,179 ~-~-> 00:06:29,069
447		-we moved into 100 pips. Then in here we
448		-
449		-113
450		-00:06:29,069 ~-~-> 00:06:34,229
451		-shrunk down to 60. So we had 7070 160
452		-
453		-114
454		-00:06:34,829 ~-~-> 00:06:37,199
455		-Okay, so we had contraction in the daily
456		-
457		-115
458		-00:06:37,199 ~-~-> 00:06:41,129
459		-range rate in here. That means there is
460		-
461		-116
462		-00:06:41,129 ~-~-> 00:06:44,669
463		-a pretty sizable move that's expected,
464		-
465		-117
466		-00:06:44,999 ~-~-> 00:06:47,939
467		-just simply looking at volatility alone.
468		-
469		-118
470		-00:06:48,149 ~-~-> 00:06:50,249
471		-Okay, this is why it's important to know
472		-
473		-119
474		-00:06:50,249 ~-~-> 00:06:52,889
475		-when the daily ranges start to contract.
476		-
477		-120
478		-00:06:53,369 ~-~-> 00:06:54,599
479		-You need to be prepared because
480		-
481		-121
482		-00:06:54,599 ~-~-> 00:06:56,399
483		-something's about to take place that you
484		-
485		-122
486		-00:06:56,399 ~-~-> 00:06:59,699
487		-could capitalize on. Okay. We're going
488		-
489		-123
490		-00:06:59,699 ~-~-> 00:07:05,669
491		-into it new week here. The market makes
492		-
493		-124
494		-00:07:05,669 ~-~-> 00:07:08,339
495		-a small range again. Okay? And that's
496		-
497		-125
498		-00:07:08,339 ~-~-> 00:07:12,089
499		-this low here, this high. Okay,
500		-
501		-126
502		-00:07:12,089 ~-~-> 00:07:13,259
503		-typically Mondays we don't like to
504		-
505		-127
506		-00:07:13,259 ~-~-> 00:07:15,059
507		-trade. But
508		-
509		-128
510		-00:07:16,589 ~-~-> 00:07:17,279
511		-you can see
512		-
513		-129
514		-00:07:21,120 ~-~-> 00:07:23,880
515		-the high and low here on this day. It's
516		-
517		-130
518		-00:07:23,880 ~-~-> 00:07:29,370
519		-this range here. So that's 45. So the
520		-
521		-131
522		-00:07:29,370 ~-~-> 00:07:31,530
523		-daily PIP ranges have really
524		-
525		-132
526		-00:07:31,530 ~-~-> 00:07:34,350
527		-consolidated into a smaller tighter
528		-
529		-133
530		-00:07:34,650 ~-~-> 00:07:37,260
531		-daily range to were much smaller than we
532		-
533		-134
534		-00:07:37,260 ~-~-> 00:07:39,690
535		-were on this previous week.
536		-
537		-135
538		-00:07:41,760 ~-~-> 00:07:42,720
539		-Mark comes down,
540		-
541		-136
542		-00:07:44,069 ~-~-> 00:07:45,389
543		-find some support.
544		-
545		-137
546		-00:07:48,660 ~-~-> 00:07:50,970
547		-We have the previous day's high here,
548		-
549		-138
550		-00:07:51,570 ~-~-> 00:07:53,880
551		-which is right here, this candle here
552		-
553		-139
554		-00:07:54,510 ~-~-> 00:07:55,920
555		-and the low here so we're going to put
556		-
557		-140
558		-00:07:55,920 ~-~-> 00:08:00,930
559		-on this so it's easy to see 130 13 pips
560		-
561		-141
562		-00:08:01,560 ~-~-> 00:08:04,530
563		-is this range here. Okay, so the ranges
564		-
565		-142
566		-00:08:04,530 ~-~-> 00:08:07,830
567		-are starting to expand. Okay and
568		-
569		-143
570		-00:08:08,250 ~-~-> 00:08:15,420
571		-previous day's range as well. Okay, we
572		-
573		-144
574		-00:08:15,420 ~-~-> 00:08:18,720
575		-have 59. So we have another small
576		-
577		-145
578		-00:08:18,750 ~-~-> 00:08:20,670
579		-contraction and daily range so we would
580		-
581		-146
582		-00:08:20,670 ~-~-> 00:08:24,240
583		-expect another move of significance. Now
584		-
585		-147
586		-00:08:24,240 ~-~-> 00:08:25,980
587		-it doesn't give you directional premise.
588		-
589		-148
590		-00:08:26,220 ~-~-> 00:08:27,780
591		-Okay, before I go any further, I don't
592		-
593		-149
594		-00:08:27,780 ~-~-> 00:08:30,300
595		-want to confuse you here. When the
596		-
597		-150
598		-00:08:30,300 ~-~-> 00:08:32,610
599		-ranges start to contract that does not
600		-
601		-151
602		-00:08:32,610 ~-~-> 00:08:34,470
603		-imply directional premise. It just means
604		-
605		-152
606		-00:08:34,470 ~-~-> 00:08:35,490
607		-a volatility
608		-
609		-153
610		-00:08:36,329 ~-~-> 00:08:36,929
611		-pop,
612		-
613		-154
614		-00:08:36,989 ~-~-> 00:08:38,789
615		-if you will, where the markets really
616		-
617		-155
618		-00:08:38,789 ~-~-> 00:08:40,139
619		-going to make a swing one direction or
620		-
621		-156
622		-00:08:40,139 ~-~-> 00:08:43,139
623		-the other is highly probable. Okay.
624		-
625		-157
626		-00:08:43,769 ~-~-> 00:08:44,879
627		-We're going to add some directional
628		-
629		-158
630		-00:08:44,879 ~-~-> 00:08:45,629
631		-stuff in a moment.
632		-
633		-159
634		-00:08:47,430 ~-~-> 00:08:48,120
635		-But we have
636		-
637		-160
638		-00:08:49,320 ~-~-> 00:08:53,460
639		-this daily high here, daily low which is
640		-
641		-161
642		-00:08:53,490 ~-~-> 00:08:56,520
643		-seen on Sunday's candle in here or
644		-
645		-162
646		-00:08:56,580 ~-~-> 00:08:58,830
647		-range, which we don't do too much
648		-
649		-163
650		-00:08:58,830 ~-~-> 00:08:59,970
651		-trading on Sunday.
652		-
653		-164
654		-00:09:02,040 ~-~-> 00:09:04,710
655		-Here's Tuesday's of that week's
656		-
657		-165
658		-00:09:06,270 ~-~-> 00:09:09,390
659		-daily range. You can see that is
660		-
661		-166
662		-00:09:09,390 ~-~-> 00:09:10,650
663		-communicated here
664		-
665		-167
666		-00:09:12,000 ~-~-> 00:09:13,530
667		-and we start moving into
668		-
669		-168
670		-00:09:15,780 ~-~-> 00:09:16,590
671		-more
672		-
673		-169
674		-00:09:18,539 ~-~-> 00:09:20,879
675		-larger daily ranges. We're above
676		-
677		-170
678		-00:09:22,230 ~-~-> 00:09:23,070
679		-90 here.
680		-
681		-171
682		-00:09:25,440 ~-~-> 00:09:29,400
683		-Okay. And prior to this range here we
684		-
685		-172
686		-00:09:29,400 ~-~-> 00:09:35,490
687		-had on that Monday of this particular
688		-
689		-173
690		-00:09:35,490 ~-~-> 00:09:39,240
691		-week, we have a range of 53 pips. Okay,
692		-
693		-174
694		-00:09:39,240 ~-~-> 00:09:41,460
695		-so we started to shrink up and we
696		-
697		-175
698		-00:09:41,490 ~-~-> 00:09:44,250
699		-exploded and we had
700		-
701		-176
702		-00:09:45,570 ~-~-> 00:09:46,440
703		-a very nice
704		-
705		-177
706		-00:09:47,940 ~-~-> 00:09:49,590
707		-increase in the daily range.
708		-
709		-178
710		-00:09:52,380 ~-~-> 00:09:55,440
711		-Okay 161 pips, okay, which was seen
712		-
713		-179
714		-00:09:55,440 ~-~-> 00:09:55,740
715		-here.
716		-
717		-180
718		-00:09:56,670 ~-~-> 00:09:57,660
719		-Okay. So
720		-
721		-181
722		-00:09:58,950 ~-~-> 00:10:00,360
723		-what I'm trying to draw your Attention
724		-
725		-182
726		-00:10:00,360 ~-~-> 00:10:03,240
727		-to and this is not only do we look at
728		-
729		-183
730		-00:10:03,630 ~-~-> 00:10:05,700
731		-price action on the charts, but we're
732		-
733		-184
734		-00:10:05,700 ~-~-> 00:10:08,730
735		-also measuring and keeping an eye on
736		-
737		-185
738		-00:10:08,760 ~-~-> 00:10:11,550
739		-volatility because when the ranges start
740		-
741		-186
742		-00:10:11,550 ~-~-> 00:10:14,490
743		-to get small, okay, or if they drop off
744		-
745		-187
746		-00:10:14,910 ~-~-> 00:10:18,450
747		-over the last five days, much lower than
748		-
749		-188
750		-00:10:18,450 ~-~-> 00:10:20,460
751		-the average daily range, we're moving
752		-
753		-189
754		-00:10:20,460 ~-~-> 00:10:22,410
755		-into an area where we're probably going
756		-
757		-190
758		-00:10:22,410 ~-~-> 00:10:25,440
759		-to have a very sharp price move. Again,
760		-
761		-191
762		-00:10:25,440 ~-~-> 00:10:26,700
763		-that does not give you a
764		-
765		-192
766		-00:10:26,700 ~-~-> 00:10:30,630
767		-prognostication. influence. No, it
768		-
769		-193
770		-00:10:30,630 ~-~-> 00:10:32,370
771		-doesn't give you any kind of directional
772		-
773		-194
774		-00:10:32,370 ~-~-> 00:10:34,860
775		-premise, if you will. It just gives you
776		-
777		-195
778		-00:10:35,040 ~-~-> 00:10:37,560
779		-a neon sign that everybody looks for
780		-
781		-196
782		-00:10:37,560 ~-~-> 00:10:39,240
783		-that something's about to happen. Well,
784		-
785		-197
786		-00:10:39,240 ~-~-> 00:10:40,500
787		-this one of the best things you can
788		-
789		-198
790		-00:10:40,500 ~-~-> 00:10:42,750
791		-have, because it's a shrinking of
792		-
793		-199
794		-00:10:42,750 ~-~-> 00:10:46,170
795		-volatility, okay. You have like disquiet
796		-
797		-200
798		-00:10:46,350 ~-~-> 00:10:48,780
799		-before the storm. Okay, and because
800		-
801		-201
802		-00:10:48,780 ~-~-> 00:10:49,950
803		-we're looking at 15 minute chart and
804		-
805		-202
806		-00:10:49,950 ~-~-> 00:10:52,830
807		-looking at one shot, one kills per week.
808		-
809		-203
810		-00:10:53,070 ~-~-> 00:10:57,000
811		-Okay. One cherry picked scenario for the
812		-
813		-204
814		-00:10:57,000 ~-~-> 00:10:58,410
815		-whole entire week that we've really
816		-
817		-205
818		-00:10:58,410 ~-~-> 00:10:59,970
819		-tried to hone in on for an hour.
820		-
821		-206
822		-00:11:00,000 ~-~-> 00:11:01,770
823		-opportunity with this with the highest
824		-
825		-207
826		-00:11:01,770 ~-~-> 00:11:04,380
827		-probability of profitability and the
828		-
829		-208
830		-00:11:04,380 ~-~-> 00:11:08,070
831		-lowest probability of risk. That's,
832		-
833		-209
834		-00:11:08,220 ~-~-> 00:11:10,800
835		-that's what a professional trader spends
836		-
837		-210
838		-00:11:10,800 ~-~-> 00:11:13,440
839		-his career doing. That's his routine he
840		-
841		-211
842		-00:11:13,440 ~-~-> 00:11:16,530
843		-looks for those conditions. There's a
844		-
845		-212
846		-00:11:16,530 ~-~-> 00:11:17,610
847		-lot of opportunities
848		-
849		-213
850		-00:11:17,640 ~-~-> 00:11:18,720
851		-that he'll let go
852		-
853		-214
854		-00:11:18,720 ~-~-> 00:11:21,900
855		-or she'll let go by with no regard
856		-
857		-215
858		-00:11:21,900 ~-~-> 00:11:23,010
859		-whatsoever about
860		-
861		-216
862		-00:11:23,520 ~-~-> 00:11:24,510
863		-who else is getting it.
864		-
865		-217
866		-00:11:25,740 ~-~-> 00:11:27,960
867		-You and your development towards it
868		-
869		-218
870		-00:11:27,960 ~-~-> 00:11:29,700
871		-professional trader, you want to be
872		-
873		-219
874		-00:11:29,700 ~-~-> 00:11:31,200
875		-having that mindset as well. You want to
876		-
877		-220
878		-00:11:31,200 ~-~-> 00:11:33,420
879		-be moving towards a level of consistency
880		-
881		-221
882		-00:11:33,570 ~-~-> 00:11:35,280
883		-and not feeling like a dog in a meat
884		-
885		-222
886		-00:11:35,280 ~-~-> 00:11:37,950
887		-market just running around chasing every
888		-
889		-223
890		-00:11:37,950 ~-~-> 00:11:39,270
891		-little thing hanging off of a counter
892		-
893		-224
894		-00:11:39,300 ~-~-> 00:11:40,890
895		-nibbling here and nibbling there and
896		-
897		-225
898		-00:11:40,890 ~-~-> 00:11:44,010
899		-never really being satisfied. I can't
900		-
901		-226
902		-00:11:44,010 ~-~-> 00:11:45,900
903		-express how satisfying it is to sit on
904		-
905		-227
906		-00:11:45,900 ~-~-> 00:11:47,700
907		-your hands and wait for a specific
908		-
909		-228
910		-00:11:47,730 ~-~-> 00:11:50,100
911		-environment. specific condition,
912		-
913		-229
914		-00:11:50,340 ~-~-> 00:11:53,040
915		-specific setup, and then watch it unfold
916		-
917		-230
918		-00:11:53,040 ~-~-> 00:11:55,020
919		-exactly how you have waited for it
920		-
921		-231
922		-00:11:55,020 ~-~-> 00:11:57,300
923		-patiently and then take advantage of it
924		-
925		-232
926		-00:11:57,360 ~-~-> 00:12:02,880
927		-execute no fear No worry, no rushing,
928		-
929		-233
930		-00:12:03,930 ~-~-> 00:12:06,180
931		-absolute patience, and there's no
932		-
933		-234
934		-00:12:06,180 ~-~-> 00:12:08,520
935		-emotion whatsoever. The emotion comes on
936		-
937		-235
938		-00:12:08,520 ~-~-> 00:12:09,750
939		-the other side of the trade when you get
940		-
941		-236
942		-00:12:09,750 ~-~-> 00:12:11,490
943		-out, hopefully with profitability,
944		-
945		-237
946		-00:12:11,880 ~-~-> 00:12:13,890
947		-hopefully with, you know, having very
948		-
949		-238
950		-00:12:13,890 ~-~-> 00:12:16,860
951		-little drawdown during the trade. So,
952		-
953		-239
954		-00:12:17,820 ~-~-> 00:12:21,030
955		-moving in that direction as a developing
956		-
957		-240
958		-00:12:21,030 ~-~-> 00:12:23,340
959		-trader, that's where your mindset should
960		-
961		-241
962		-00:12:23,340 ~-~-> 00:12:25,680
963		-be early on. And if you haven't done
964		-
965		-242
966		-00:12:25,680 ~-~-> 00:12:26,730
967		-that you've been trained for a while,
968		-
969		-243
970		-00:12:27,030 ~-~-> 00:12:28,650
971		-you'd be surprised if you started doing
972		-
973		-244
974		-00:12:28,650 ~-~-> 00:12:30,750
975		-that very thing, how much more
976		-
977		-245
978		-00:12:30,750 ~-~-> 00:12:33,510
979		-significant your results would be. And
980		-
981		-246
982		-00:12:33,570 ~-~-> 00:12:36,000
983		-it would clear a lot of the emotional
984		-
985		-247
986		-00:12:36,030 ~-~-> 00:12:38,280
987		-and fear and greed aspects that come
988		-
989		-248
990		-00:12:38,340 ~-~-> 00:12:43,530
991		-inherent with trading. So understanding
992		-
993		-249
994		-00:12:43,530 ~-~-> 00:12:46,020
995		-the contraction of the daily ranges,
996		-
997		-250
998		-00:12:46,050 ~-~-> 00:12:48,840
999		-again, is vital to understanding when
1000		-
1001		-251
1002		-00:12:48,840 ~-~-> 00:12:49,320
1003		-next
1004		-
1005		-252
1006		-00:12:49,350 ~-~-> 00:12:50,790
1007		-big move, quote unquote,
1008		-
1009		-253
1010		-00:12:52,200 ~-~-> 00:12:53,250
1011		-is about to ensue.
1012		-
1013		-254
1014		-00:12:53,879 ~-~-> 00:12:55,169
1015		-Because we as traders, that's what we
1016		-
1017		-255
1018		-00:12:55,169 ~-~-> 00:12:56,699
1019		-need. We need volatility to make money.
1020		-
1021		-256
1022		-00:12:56,879 ~-~-> 00:12:58,169
1023		-Okay, if the markets Don't move, it's
1024		-
1025		-257
1026		-00:12:58,169 ~-~-> 00:12:59,429
1027		-very difficult for us to make money.
1028		-
1029		-258
1030		-00:12:59,729 ~-~-> 00:13:00,959
1031		-Okay? Unless you're an options trader,
1032		-
1033		-259
1034		-00:13:00,959 ~-~-> 00:13:02,369
1035		-which, you know, I'm not
1036		-
1037		-260
1038		-00:13:02,460 ~-~-> 00:13:04,620
1039		-going to be claiming to be an avid,
1040		-
1041		-261
1042		-00:13:05,550 ~-~-> 00:13:06,570
1043		-you know, options trader,
1044		-
1045		-262
1046		-00:13:06,870 ~-~-> 00:13:09,480
1047		-but they're certainly means of taking
1048		-
1049		-263
1050		-00:13:09,480 ~-~-> 00:13:11,190
1051		-advantage of the marketplace. When there
1052		-
1053		-264
1054		-00:13:11,190 ~-~-> 00:13:13,260
1055		-is quiet markets. I'm just not that type
1056		-
1057		-265
1058		-00:13:13,260 ~-~-> 00:13:15,600
1059		-of trader, you know, I need action. So
1060		-
1061		-266
1062		-00:13:17,160 ~-~-> 00:13:19,320
1063		-let's go back and look at a few things.
1064		-
1065		-267
1066		-00:13:19,410 ~-~-> 00:13:21,840
1067		-Okay, the previous video we talked about
1068		-
1069		-268
1070		-00:13:21,840 ~-~-> 00:13:24,450
1071		-stop loss placement, and managing
1072		-
1073		-269
1074		-00:13:24,450 ~-~-> 00:13:27,150
1075		-trailing stops and such. And I really
1076		-
1077		-270
1078		-00:13:27,150 ~-~-> 00:13:33,840
1079		-want to hone this in down to a very core
1080		-
1081		-271
1082		-00:13:33,840 ~-~-> 00:13:35,850
1083		-principle so you can understand what it
1084		-
1085		-272
1086		-00:13:35,850 ~-~-> 00:13:38,580
1087		-is specifically, that you're trying to
1088		-
1089		-273
1090		-00:13:38,580 ~-~-> 00:13:40,380
1091		-do when you place your stop and why it's
1092		-
1093		-274
1094		-00:13:40,380 ~-~-> 00:13:44,010
1095		-important to have a specific number of
1096		-
1097		-275
1098		-00:13:44,010 ~-~-> 00:13:47,130
1099		-pips as a like a template if you will.
1100		-
1101		-276
1102		-00:13:48,420 ~-~-> 00:13:50,520
1103		-Because we're trading with a one shot
1104		-
1105		-277
1106		-00:13:50,520 ~-~-> 00:13:53,430
1107		-one kill mentality and looking for one
1108		-
1109		-278
1110		-00:13:53,490 ~-~-> 00:13:58,530
1111		-choice setup for the week. We understand
1112		-
1113		-279
1114		-00:13:58,560 ~-~-> 00:14:00,990
1115		-we looked at a few daily ranges Okay,
1116		-
1117		-280
1118		-00:14:01,200 ~-~-> 00:14:03,060
1119		-while it is not
1120		-
1121		-281
1122		-00:14:03,840 ~-~-> 00:14:05,670
1123		-always 100 pips,
1124		-
1125		-282
1126		-00:14:06,060 ~-~-> 00:14:07,290
1127		-I classify
1128		-
1129		-283
1130		-00:14:07,500 ~-~-> 00:14:10,230
1131		-the average daily range for the euro and
1132		-
1133		-284
1134		-00:14:10,230 ~-~-> 00:14:11,700
1135		-the maybe the British Pound
1136		-
1137		-285
1138		-00:14:12,990 ~-~-> 00:14:13,650
1139		-USD.
1140		-
1141		-286
1142		-00:14:14,040 ~-~-> 00:14:16,260
1143		-In other words cable and fiber pairs, I
1144		-
1145		-287
1146		-00:14:16,260 ~-~-> 00:14:20,460
1147		-classify them as a generic 100 PIP daily
1148		-
1149		-288
1150		-00:14:20,460 ~-~-> 00:14:23,130
1151		-range. Now, please do not send
1152		-
1153		-289
1154		-00:14:24,000 ~-~-> 00:14:26,070
1155		-emails to me, okay? or
1156		-
1157		-290
1158		-00:14:26,190 ~-~-> 00:14:28,740
1159		-message me on twitter saying, Michael,
1160		-
1161		-291
1162		-00:14:29,760 ~-~-> 00:14:31,440
1163		-the fiber doesn't have an average daily
1164		-
1165		-292
1166		-00:14:31,440 ~-~-> 00:14:33,150
1167		-range of 100 pips every day or hasn't
1168		-
1169		-293
1170		-00:14:33,150 ~-~-> 00:14:34,410
1171		-had it for this number of days or
1172		-
1173		-294
1174		-00:14:34,410 ~-~-> 00:14:37,020
1175		-whatever. I know that it will move in
1176		-
1177		-295
1178		-00:14:37,020 ~-~-> 00:14:40,950
1179		-and out. Okay, but in my mind, I adopt
1180		-
1181		-296
1182		-00:14:41,430 ~-~-> 00:14:44,730
1183		-100 PIP daily range, will it always have
1184		-
1185		-297
1186		-00:14:44,730 ~-~-> 00:14:48,120
1187		-exactly 100? Pip? No. Will it go over
1188		-
1189		-298
1190		-00:14:48,120 ~-~-> 00:14:50,250
1191		-it? Certainly. Will it double it
1192		-
1193		-299
1194		-00:14:50,250 ~-~-> 00:14:53,040
1195		-sometimes? Certainly. Okay. Will it go
1196		-
1197		-300
1198		-00:14:53,040 ~-~-> 00:14:55,380
1199		-very, very small have even a 40 PIP or
1200		-
1201		-301
1202		-00:14:55,380 ~-~-> 00:14:57,810
1203		-less daily range? Yes, it can do that.
1204		-
1205		-302
1206		-00:14:58,050 ~-~-> 00:15:00,660
1207		-Okay, so please, don't Don't try to
1208		-
1209		-303
1210		-00:15:00,690 ~-~-> 00:15:01,920
1211		-start an argument with me because I'm
1212		-
1213		-304
1214		-00:15:01,920 ~-~-> 00:15:05,490
1215		-really not interested. Okay. I'm showing
1216		-
1217		-305
1218		-00:15:05,490 ~-~-> 00:15:08,280
1219		-you how I view the market. It's up to
1220		-
1221		-306
1222		-00:15:08,280 ~-~-> 00:15:10,020
1223		-you whether you discern if it's any
1224		-
1225		-307
1226		-00:15:10,020 ~-~-> 00:15:11,190
1227		-value or not. Okay?
1228		-
1229		-308
1230		-00:15:12,870 ~-~-> 00:15:14,760
1231		-But because I have framed it with an
1232		-
1233		-309
1234		-00:15:14,760 ~-~-> 00:15:15,570
1235		-average
1236		-
1237		-310
1238		-00:15:16,710 ~-~-> 00:15:22,230
1239		-of 100 pips on a daily basis, okay? One
1240		-
1241		-311
1242		-00:15:22,230 ~-~-> 00:15:24,870
1243		-third that okay, it's about 30 pips.
1244		-
1245		-312
1246		-00:15:25,290 ~-~-> 00:15:28,020
1247		-Okay. And my premise to trading with a
1248		-
1249		-313
1250		-00:15:28,080 ~-~-> 00:15:31,620
1251		-one shot one kill mentality is if we're
1252		-
1253		-314
1254		-00:15:31,620 ~-~-> 00:15:33,450
1255		-in an environment we already expect
1256		-
1257		-315
1258		-00:15:33,450 ~-~-> 00:15:36,480
1259		-bullish prices. Okay. If we expect
1260		-
1261		-316
1262		-00:15:36,480 ~-~-> 00:15:39,510
1263		-bullish prices. We've looked at the
1264		-
1265		-317
1266		-00:15:39,510 ~-~-> 00:15:41,280
1267		-higher time frame daily chart, maybe the
1268		-
1269		-318
1270		-00:15:41,280 ~-~-> 00:15:44,310
1271		-nine day and 18 day are signifying that
1272		-
1273		-319
1274		-00:15:44,340 ~-~-> 00:15:47,190
1275		-is a buy model right now. Everything is
1276		-
1277		-320
1278		-00:15:47,220 ~-~-> 00:15:48,840
1279		-institutional flows are moving higher.
1280		-
1281		-321
1282		-00:15:50,010 ~-~-> 00:15:52,170
1283		-We've come off of nice higher level
1284		-
1285		-322
1286		-00:15:52,260 ~-~-> 00:15:54,960
1287		-support levels. Okay. And breaking
1288		-
1289		-323
1290		-00:15:54,960 ~-~-> 00:15:57,690
1291		-resistance levels. Everything is
1292		-
1293		-324
1294		-00:15:57,900 ~-~-> 00:16:01,050
1295		-bullish. Okay. We We've already learned
1296		-
1297		-325
1298		-00:16:01,050 ~-~-> 00:16:04,350
1299		-that the market finds its low for the
1300		-
1301		-326
1302		-00:16:04,350 ~-~-> 00:16:07,590
1303		-week, typically between Monday and
1304		-
1305		-327
1306		-00:16:07,590 ~-~-> 00:16:09,780
1307		-Wednesdays London open, very high
1308		-
1309		-328
1310		-00:16:09,780 ~-~-> 00:16:11,700
1311		-probability for Tuesday's long and open
1312		-
1313		-329
1314		-00:16:11,700 ~-~-> 00:16:13,920
1315		-to create it. But again, we're flexible
1316		-
1317		-330
1318		-00:16:13,920 ~-~-> 00:16:16,140
1319		-because we are not trading in black and
1320		-
1321		-331
1322		-00:16:16,140 ~-~-> 00:16:18,990
1323		-white, we trade in the gray. Okay, so we
1324		-
1325		-332
1326		-00:16:18,990 ~-~-> 00:16:21,660
1327		-had to thrive in the gray, we have a
1328		-
1329		-333
1330		-00:16:21,690 ~-~-> 00:16:25,170
1331		-general rule to expect the higher low to
1332		-
1333		-334
1334		-00:16:25,170 ~-~-> 00:16:27,900
1335		-form by Wednesday's lemon oven,
1336		-
1337		-335
1338		-00:16:28,050 ~-~-> 00:16:29,460
1339		-okay? But
1340		-
1341		-336
1342		-00:16:30,390 ~-~-> 00:16:32,130
1343		-there's going to be small deviations in
1344		-
1345		-337
1346		-00:16:32,130 ~-~-> 00:16:33,840
1347		-that periodically, okay?
1348		-
1349		-338
1350		-00:16:34,200 ~-~-> 00:16:37,170
1351		-Because just simply because we want it
1352		-
1353		-339
1354		-00:16:37,170 ~-~-> 00:16:37,830
1355		-to be like that,
1356		-
1357		-340
1358		-00:16:37,830 ~-~-> 00:16:38,700
1359		-always, it's not
1360		-
1361		-341
1362		-00:16:38,700 ~-~-> 00:16:39,780
1363		-always going to be like that. So you
1364		-
1365		-342
1366		-00:16:39,780 ~-~-> 00:16:40,800
1367		-have to have some flexibility in
1368		-
1369		-343
1370		-00:16:40,800 ~-~-> 00:16:42,630
1371		-trading. And that goes along with your
1372		-
1373		-344
1374		-00:16:42,630 ~-~-> 00:16:45,300
1375		-analysis as well. So we're going to go
1376		-
1377		-345
1378		-00:16:45,300 ~-~-> 00:16:48,240
1379		-back over a few concepts with this whole
1380		-
1381		-346
1382		-00:16:48,240 ~-~-> 00:16:49,830
1383		-weekend mind, okay, and we're again,
1384		-
1385		-347
1386		-00:16:49,830 ~-~-> 00:16:51,690
1387		-we're looking at September 30th, to
1388		-
1389		-348
1390		-00:16:51,690 ~-~-> 00:16:56,580
1391		-October 4 and four time reduction on the
1392		-
1393		-349
1394		-00:16:56,580 ~-~-> 00:16:58,740
1395		-video. Again, I'll just counsel you to
1396		-
1397		-350
1398		-00:16:58,740 ~-~-> 00:17:00,480
1399		-go to your daily chart pool. You're
1400		-
1401		-351
1402		-00:17:00,510 ~-~-> 00:17:02,790
1403		-moving averages to, to confirm this is
1404		-
1405		-352
1406		-00:17:02,790 ~-~-> 00:17:05,250
1407		-indeed a timeframe when the market is
1408		-
1409		-353
1410		-00:17:05,490 ~-~-> 00:17:08,190
1411		-showing institutional flows being
1412		-
1413		-354
1414		-00:17:08,220 ~-~-> 00:17:09,810
1415		-bullish with the averages crossing and
1416		-
1417		-355
1418		-00:17:09,810 ~-~-> 00:17:13,080
1419		-everything trying to move higher. We
1420		-
1421		-356
1422		-00:17:13,080 ~-~-> 00:17:15,810
1423		-have Wednesday's trading here we have
1424		-
1425		-357
1426		-00:17:15,810 ~-~-> 00:17:18,150
1427		-Tuesday's trading here and Monday. We
1428		-
1429		-358
1430		-00:17:18,150 ~-~-> 00:17:20,340
1431		-had a range, okay
1432		-
1433		-359
1434		-00:17:22,650 ~-~-> 00:17:25,410
1435		-from Tuesday's high here
1436		-
1437		-360
1438		-00:17:27,180 ~-~-> 00:17:29,100
1439		-and Monday's low.
1440		-
1441		-361
1442		-00:17:31,110 ~-~-> 00:17:34,110
1443		-Okay, so market made a high here early
1444		-
1445		-362
1446		-00:17:34,110 ~-~-> 00:17:36,990
1447		-in the week, took out this high here and
1448		-
1449		-363
1450		-00:17:37,140 ~-~-> 00:17:41,160
1451		-traded back and receded back into
1452		-
1453		-364
1454		-00:17:41,160 ~-~-> 00:17:45,720
1455		-Wednesday. Now this candle here. My
1456		-
1457		-365
1458		-00:17:45,720 ~-~-> 00:17:47,160
1459		-little things here so I can see what I'm
1460		-
1461		-366
1462		-00:17:47,160 ~-~-> 00:17:52,050
1463		-looking at. This candle comes in at 1215
1464		-
1465		-367
1466		-00:17:52,140 ~-~-> 00:17:52,860
1467		-GMT,
1468		-
1469		-368
1470		-00:17:53,790 ~-~-> 00:17:55,620
1471		-or 1230 GMT rather.
1472		-
1473		-369
1474		-00:17:56,070 ~-~-> 00:17:59,970
1475		-Now that's classic, New York open so
1476		-
1477		-370
1478		-00:18:00,360 ~-~-> 00:18:03,780
1479		-While we did have the market, make a
1480		-
1481		-371
1482		-00:18:03,780 ~-~-> 00:18:05,910
1483		-nice little low here and during its
1484		-
1485		-372
1486		-00:18:06,270 ~-~-> 00:18:08,550
1487		-London session here, New York came down,
1488		-
1489		-373
1490		-00:18:08,550 ~-~-> 00:18:10,530
1491		-swept that low out and then the real
1492		-
1493		-374
1494		-00:18:10,530 ~-~-> 00:18:12,360
1495		-move came. Okay, so we talked about that
1496		-
1497		-375
1498		-00:18:12,360 ~-~-> 00:18:13,380
1499		-stop reading event.
1500		-
1501		-376
1502		-00:18:13,979 ~-~-> 00:18:16,319
1503		-Okay, but more specifically,
1504		-
1505		-377
1506		-00:18:16,799 ~-~-> 00:18:20,609
1507		-we're going to go a little closer. Okay,
1508		-
1509		-378
1510		-00:18:20,609 ~-~-> 00:18:22,439
1511		-you can see what we have here. This is
1512		-
1513		-379
1514		-00:18:22,439 ~-~-> 00:18:25,409
1515		-that Monday and Tuesday, we're going to
1516		-
1517		-380
1518		-00:18:25,409 ~-~-> 00:18:28,799
1519		-pull up the range calling the low
1520		-
1521		-381
1522		-00:18:29,729 ~-~-> 00:18:32,009
1523		-dropping our fib right on this high.
1524		-
1525		-382
1526		-00:18:33,539 ~-~-> 00:18:36,959
1527		-Okay, so we have we've outlined our
1528		-
1529		-383
1530		-00:18:36,959 ~-~-> 00:18:41,579
1531		-range here. Okay. And we also know that
1532		-
1533		-384
1534		-00:18:44,069 ~-~-> 00:18:45,599
1535		-because the market has been moving
1536		-
1537		-385
1538		-00:18:45,599 ~-~-> 00:18:47,069
1539		-lower, we're bullish, we're looking for
1540		-
1541		-386
1542		-00:18:47,069 ~-~-> 00:18:49,469
1543		-buys okay. In this environment based on
1544		-
1545		-387
1546		-00:18:49,469 ~-~-> 00:18:51,299
1547		-the daily timeframe, we will be looking
1548		-
1549		-388
1550		-00:18:51,299 ~-~-> 00:18:53,339
1551		-for bullish scenarios. Okay.
1552		-
1553		-389
1554		-00:18:55,500 ~-~-> 00:18:57,960
1555		-Okay, so we have our fib from the low
1556		-
1557		-390
1558		-00:18:57,960 ~-~-> 00:18:58,410
1559		-here.
1560		-
1561		-391
1562		-00:19:00,000 ~-~-> 00:19:00,960
1563		-Hi here
1564		-
1565		-392
1566		-00:19:02,399 ~-~-> 00:19:03,929
1567		-just one more little quickie as you can
1568		-
1569		-393
1570		-00:19:03,929 ~-~-> 00:19:04,259
1571		-see,
1572		-
1573		-394
1574		-00:19:05,009 ~-~-> 00:19:06,329
1575		-we're looking at here's that Monday,
1576		-
1577		-395
1578		-00:19:06,329 ~-~-> 00:19:11,279
1579		-low, Tuesday's high and markets finding
1580		-
1581		-396
1582		-00:19:11,339 ~-~-> 00:19:14,099
1583		-lower prices and then we move into this
1584		-
1585		-397
1586		-00:19:14,099 ~-~-> 00:19:16,349
1587		-is London open for that Wednesday on the
1588		-
1589		-398
1590		-00:19:16,349 ~-~-> 00:19:19,439
1591		-second of October and then the New York
1592		-
1593		-399
1594		-00:19:19,709 ~-~-> 00:19:22,769
1595		-open comes down raids those lows. Okay,
1596		-
1597		-400
1598		-00:19:22,889 ~-~-> 00:19:25,199
1599		-see how clean that is. They're just
1600		-
1601		-401
1602		-00:19:25,199 ~-~-> 00:19:27,689
1603		-about the same level here. And that's a
1604		-
1605		-402
1606		-00:19:27,689 ~-~-> 00:19:30,299
1607		-real high suspect area the pocket of
1608		-
1609		-403
1610		-00:19:30,299 ~-~-> 00:19:32,759
1611		-stuff will be resting Okay, or liquidity
1612		-
1613		-404
1614		-00:19:32,759 ~-~-> 00:19:35,669
1615		-pocket. And then our liquidity pool
1616		-
1617		-405
1618		-00:19:35,669 ~-~-> 00:19:38,879
1619		-rather and market comes down. raids that
1620		-
1621		-406
1622		-00:19:38,879 ~-~-> 00:19:41,879
1623		-area here assumes all those pending
1624		-
1625		-407
1626		-00:19:41,879 ~-~-> 00:19:44,069
1627		-orders. That would be what it would be
1628		-
1629		-408
1630		-00:19:44,069 ~-~-> 00:19:45,869
1631		-sell orders. Okay, they would be sell
1632		-
1633		-409
1634		-00:19:45,869 ~-~-> 00:19:47,639
1635		-orders. Because anyone who is trying to
1636		-
1637		-410
1638		-00:19:47,639 ~-~-> 00:19:50,819
1639		-buy long in here, they're protecting in
1640		-
1641		-411
1642		-00:19:50,819 ~-~-> 00:19:53,249
1643		-your mind by having a stop loss in the
1644		-
1645		-412
1646		-00:19:53,249 ~-~-> 00:19:55,919
1647		-form of a sell stop. Because it's prices
1648		-
1649		-413
1650		-00:19:55,919 ~-~-> 00:19:56,309
1651		-come down
1652		-
1653		-414
1654		-00:19:56,309 ~-~-> 00:19:57,269
1655		-lower they want to be getting out the
1656		-
1657		-415
1658		-00:19:57,269 ~-~-> 00:19:58,499
1659		-market that sell stop becomes
1660		-
1661		-416
1662		-00:19:58,500 ~-~-> 00:20:00,540
1663		-a market order to do what sell To market
1664		-
1665		-417
1666		-00:20:00,900 ~-~-> 00:20:01,950
1667		-who would be willing to take the other
1668		-
1669		-418
1670		-00:20:01,950 ~-~-> 00:20:03,510
1671		-side of the trade? Those that are in the
1672		-
1673		-419
1674		-00:20:03,510 ~-~-> 00:20:06,480
1675		-know. So we need to price down here then
1676		-
1677		-420
1678		-00:20:06,480 ~-~-> 00:20:09,690
1679		-you saw that rally up. Here's what we
1680		-
1681		-421
1682		-00:20:09,900 ~-~-> 00:20:12,900
1683		-want to do. We want to know when the
1684		-
1685		-422
1686		-00:20:12,900 ~-~-> 00:20:15,510
1687		-second of October when price was
1688		-
1689		-423
1690		-00:20:15,510 ~-~-> 00:20:18,870
1691		-dropping down, was there something over
1692		-
1693		-424
1694		-00:20:18,870 ~-~-> 00:20:21,150
1695		-here? Okay that it was trying to
1696		-
1697		-425
1698		-00:20:21,150 ~-~-> 00:20:26,820
1699		-fulfill? Well, if we go out to an hourly
1700		-
1701		-426
1702		-00:20:26,820 ~-~-> 00:20:27,210
1703		-chart,
1704		-
1705		-427
1706		-00:20:27,630 ~-~-> 00:20:29,550
1707		-here is the bearish candle
1708		-
1709		-428
1710		-00:20:30,809 ~-~-> 00:20:32,189
1711		-prior to the bullish move up
1712		-
1713		-429
1714		-00:20:33,690 ~-~-> 00:20:35,400
1715		-Okay, let's zoom in a little bit more.
1716		-
1717		-430
1718		-00:20:35,700 ~-~-> 00:20:36,180
1719		-Okay.
1720		-
1721		-431
1722		-00:20:44,579 ~-~-> 00:20:45,389
1723		-Go right there.
1724		-
1725		-432
1726		-00:20:48,000 ~-~-> 00:20:48,780
1727		-So we have
1728		-
1729		-433
1730		-00:20:53,339 ~-~-> 00:20:55,889
1731		-price coming down, touching
1732		-
1733		-434
1734		-00:20:58,140 ~-~-> 00:20:59,940
1735		-that hourly order block
1736		-
1737		-435
1738		-00:21:00,450 ~-~-> 00:21:02,520
1739		-Prior to that big move here on the 30th
1740		-
1741		-436
1742		-00:21:03,210 ~-~-> 00:21:05,100
1743		-it moves higher here on that Tuesday and
1744		-
1745		-437
1746		-00:21:05,100 ~-~-> 00:21:06,750
1747		-then we had the market receding down.
1748		-
1749		-438
1750		-00:21:07,560 ~-~-> 00:21:09,150
1751		-Notice how price comes right down into
1752		-
1753		-439
1754		-00:21:09,150 ~-~-> 00:21:11,790
1755		-that sweet spot as well. Okay, but does
1756		-
1757		-440
1758		-00:21:11,820 ~-~-> 00:21:14,220
1759		-not violate the 75 cent treatment level
1760		-
1761		-441
1762		-00:21:14,640 ~-~-> 00:21:16,110
1763		-comes right down to the order block
1764		-
1765		-442
1766		-00:21:16,110 ~-~-> 00:21:17,910
1767		-here. Okay.
1768		-
1769		-443
1770		-00:21:20,369 ~-~-> 00:21:22,079
1771		-Let's take this off,
1772		-
1773		-444
1774		-00:21:22,950 ~-~-> 00:21:24,690
1775		-clean clearly see what I'm referring to.
1776		-
1777		-445
1778		-00:21:25,140 ~-~-> 00:21:27,330
1779		-That's how precise it gets. Okay?
1780		-
1781		-446
1782		-00:21:27,450 ~-~-> 00:21:28,710
1783		-So when price comes down, hits, that
1784		-
1785		-447
1786		-00:21:28,710 ~-~-> 00:21:30,210
1787		-level starts to rally up.
1788		-
1789		-448
1790		-00:21:31,770 ~-~-> 00:21:32,730
1791		-Now, here's where we're going to
1792		-
1793		-449
1794		-00:21:32,730 ~-~-> 00:21:36,930
1795		-introduce the concept of the effective
1796		-
1797		-450
1798		-00:21:36,960 ~-~-> 00:21:39,330
1799		-stop loss placement. Okay, let's go back
1800		-
1801		-451
1802		-00:21:39,330 ~-~-> 00:21:43,830
1803		-down to the 15 minute timeframe. Okay,
1804		-
1805		-452
1806		-00:21:44,250 ~-~-> 00:21:44,820
1807		-and
1808		-
1809		-453
1810		-00:21:46,530 ~-~-> 00:21:47,820
1811		-we're going to show
1812		-
1813		-454
1814		-00:21:50,609 ~-~-> 00:21:51,989
1815		-this is
1816		-
1817		-455
1818		-00:21:58,859 ~-~-> 00:21:59,759
1819		-the whole
1820		-
1821		-456
1822		-00:22:01,439 ~-~-> 00:22:02,939
1823		-London session
1824		-
1825		-457
1826		-00:22:03,179 ~-~-> 00:22:05,279
1827		-open, not the whole session itself but
1828		-
1829		-458
1830		-00:22:05,279 ~-~-> 00:22:05,909
1831		-the London open
1832		-
1833		-459
1834		-00:22:06,599 ~-~-> 00:22:08,639
1835		-as defined by me.
1836		-
1837		-460
1838		-00:22:10,859 ~-~-> 00:22:14,069
1839		-And here is
1840		-
1841		-461
1842		-00:22:16,740 ~-~-> 00:22:18,360
1843		-the New York session
1844		-
1845		-462
1846		-00:22:28,530 ~-~-> 00:22:32,220
1847		-is defined by me. Okay,
1848		-
1849		-463
1850		-00:22:32,250 ~-~-> 00:22:35,220
1851		-and we're going to assume again, that
1852		-
1853		-464
1854		-00:22:36,270 ~-~-> 00:22:37,230
1855		-all things
1856		-
1857		-465
1858		-00:22:38,339 ~-~-> 00:22:40,079
1859		-that we discuss in this video series,
1860		-
1861		-466
1862		-00:22:41,069 ~-~-> 00:22:43,439
1863		-we're favoring an area to be buying in
1864		-
1865		-467
1866		-00:22:43,439 ~-~-> 00:22:43,739
1867		-here.
1868		-
1869		-468
1870		-00:22:46,200 ~-~-> 00:22:47,160
1871		-We're going to
1872		-
1873		-469
1874		-00:22:51,960 ~-~-> 00:22:52,890
1875		-highlight this
1876		-
1877		-470
1878		-00:22:53,280 ~-~-> 00:22:54,750
1879		-area here again we're looking at this
1880		-
1881		-471
1882		-00:22:54,750 ~-~-> 00:22:56,640
1883		-point here is the beginning of time and
1884		-
1885		-472
1886		-00:22:56,640 ~-~-> 00:23:00,180
1887		-price. In this area, here is where We'd
1888		-
1889		-473
1890		-00:23:00,180 ~-~-> 00:23:02,880
1891		-be looking all the way to the last
1892		-
1893		-474
1894		-00:23:02,880 ~-~-> 00:23:06,510
1895		-portion of New York session. So what I
1896		-
1897		-475
1898		-00:23:06,510 ~-~-> 00:23:08,160
1899		-do is it's this outside edge this
1900		-
1901		-476
1902		-00:23:08,550 ~-~-> 00:23:11,310
1903		-rectangles right here. In the beginning
1904		-
1905		-477
1906		-00:23:11,310 ~-~-> 00:23:13,740
1907		-of this rectangle age is approximately
1908		-
1909		-478
1910		-00:23:13,740 ~-~-> 00:23:15,000
1911		-the beginning here. So what I've done
1912		-
1913		-479
1914		-00:23:15,000 ~-~-> 00:23:16,830
1915		-was I've mapped out this whole area of
1916		-
1917		-480
1918		-00:23:17,190 ~-~-> 00:23:20,910
1919		-where time and price are conducive for a
1920		-
1921		-481
1922		-00:23:20,910 ~-~-> 00:23:23,700
1923		-buy. Okay, so now we're gonna take the
1924		-
1925		-482
1926		-00:23:23,700 ~-~-> 00:23:24,420
1927		-fib off.
1928		-
1929		-483
1930		-00:23:27,960 ~-~-> 00:23:30,570
1931		-And 135 10s are a nice round number.
1932		-
1933		-484
1934		-00:23:32,280 ~-~-> 00:23:33,300
1935		-We're going to assume
1936		-
1937		-485
1938		-00:23:34,260 ~-~-> 00:23:37,590
1939		-that this level here is what we traded.
1940		-
1941		-486
1942		-00:23:38,220 ~-~-> 00:23:40,110
1943		-I'm not going to use this
1944		-
1945		-487
1946		-00:23:40,139 ~-~-> 00:23:42,419
1947		-as the ideal scenario. Okay, so I'm
1948		-
1949		-488
1950		-00:23:42,419 ~-~-> 00:23:44,489
1951		-going to show you how powerful this
1952		-
1953		-489
1954		-00:23:44,489 ~-~-> 00:23:47,009
1955		-stuff is. And you don't need to be so
1956		-
1957		-490
1958		-00:23:47,009 ~-~-> 00:23:50,069
1959		-precise. This whole area you've
1960		-
1961		-491
1962		-00:23:50,069 ~-~-> 00:23:53,879
1963		-identified as a level of opportunity,
1964		-
1965		-492
1966		-00:23:53,909 ~-~-> 00:23:55,619
1967		-okay, so this is a killing ground.
1968		-
1969		-493
1970		-00:23:55,859 ~-~-> 00:23:57,659
1971		-Inside of kill zones. These are kill
1972		-
1973		-494
1974		-00:23:57,659 ~-~-> 00:24:00,269
1975		-zones. This is a killing ground. Okay,
1976		-
1977		-495
1978		-00:24:00,269 ~-~-> 00:24:01,799
1979		-this is an area where we restocking
1980		-
1981		-496
1982		-00:24:01,829 ~-~-> 00:24:05,339
1983		-setup we don't look for any setups
1984		-
1985		-497
1986		-00:24:05,339 ~-~-> 00:24:06,869
1987		-during this time period This is a dead
1988		-
1989		-498
1990		-00:24:06,869 ~-~-> 00:24:08,969
1991		-low in the marketplace This is like
1992		-
1993		-499
1994		-00:24:08,969 ~-~-> 00:24:11,579
1995		-quiet time you're gonna be trading in
1996		-
1997		-500
1998		-00:24:11,579 ~-~-> 00:24:13,589
1999		-the New York open. I'm sorry the London
2000		-
2001		-501
2002		-00:24:13,589 ~-~-> 00:24:16,289
2003		-open rather or the New York open but
2004		-
2005		-502
2006		-00:24:17,369 ~-~-> 00:24:19,949
2007		-we're looking for this move for the
2008		-
2009		-503
2010		-00:24:20,579 ~-~-> 00:24:22,799
2011		-weekly range to continue moving higher.
2012		-
2013		-504
2014		-00:24:23,099 ~-~-> 00:24:24,809
2015		-So as the market moves from Tuesday's
2016		-
2017		-505
2018		-00:24:24,809 ~-~-> 00:24:27,119
2019		-high down into Wednesday's London open,
2020		-
2021		-506
2022		-00:24:27,539 ~-~-> 00:24:29,639
2023		-okay, this is an area where we would be
2024		-
2025		-507
2026		-00:24:29,639 ~-~-> 00:24:31,289
2027		-hunting a setup. Okay?
2028		-
2029		-508
2030		-00:24:33,059 ~-~-> 00:24:40,529
2031		-If we used this price
2032		-
2033		-509
2034		-00:24:40,530 ~-~-> 00:24:42,960
2035		-level here is 135 seven.
2036		-
2037		-510
2038		-00:24:43,290 ~-~-> 00:24:45,210
2039		-Let's assume for a moment, we traded at
2040		-
2041		-511
2042		-00:24:45,210 ~-~-> 00:24:51,750
2043		-135 15 right in here, okay, nice little
2044		-
2045		-512
2046		-00:24:51,750 ~-~-> 00:24:54,840
2047		-area. It's previous day's low in here in
2048		-
2049		-513
2050		-00:24:54,840 ~-~-> 00:24:56,880
2051		-here. So we're going to use that as our
2052		-
2053		-514
2054		-00:24:56,880 ~-~-> 00:24:59,160
2055		-entry point. Okay because dealing ranges
2056		-
2057		-515
2058		-00:24:59,460 ~-~-> 00:24:59,970
2059		-and bank are
2060		-
2061		-516
2062		-00:25:00,569 ~-~-> 00:25:02,459
2063		-Traders like to use previous day's highs
2064		-
2065		-517
2066		-00:25:02,459 ~-~-> 00:25:02,939
2067		-and lows.
2068		-
2069		-518
2070		-00:25:03,450 ~-~-> 00:25:04,830
2071		-We're going to assume from that we took
2072		-
2073		-519
2074		-00:25:04,830 ~-~-> 00:25:07,440
2075		-that trade long in here in this
2076		-
2077		-520
2078		-00:25:07,440 ~-~-> 00:25:09,960
2079		-consolidation little area in here. We
2080		-
2081		-521
2082		-00:25:09,960 ~-~-> 00:25:10,710
2083		-went along there
2084		-
2085		-522
2086		-00:25:13,349 ~-~-> 00:25:13,979
2087		-if
2088		-
2089		-523
2090		-00:25:15,750 ~-~-> 00:25:16,590
2091		-we use
2092		-
2093		-524
2094		-00:25:19,140 ~-~-> 00:25:20,520
2095		-let's get rid of this rectangle here.
2096		-
2097		-525
2098		-00:25:25,470 ~-~-> 00:25:26,460
2099		-If we use
2100		-
2101		-526
2102		-00:25:27,539 ~-~-> 00:25:31,409
2103		-30 pips as a stop, our stop would reside
2104		-
2105		-527
2106		-00:25:31,409 ~-~-> 00:25:31,949
2107		-down here.
2108		-
2109		-528
2110		-00:25:39,059 ~-~-> 00:25:43,319
2111		-Okay 134 86
2112		-
2113		-529
2114		-00:25:43,349 ~-~-> 00:25:44,159
2115		-or there abouts.
2116		-
2117		-530
2118		-00:25:44,280 ~-~-> 00:25:46,740
2119		-Okay? And our entry
2120		-
2121		-531
2122		-00:25:52,410 ~-~-> 00:25:53,070
2123		-would be
2124		-
2125		-532
2126		-00:25:54,869 ~-~-> 00:25:56,489
2127		-approximately, let's
2128		-
2129		-533
2130		-00:25:56,850 ~-~-> 00:25:58,920
2131		-go down to where we said 135 15
2132		-
2133		-534
2134		-00:26:03,929 ~-~-> 00:26:05,249
2135		-Okay, so we have
2136		-
2137		-535
2138		-00:26:07,890 ~-~-> 00:26:09,030
2139		-our entry point
2140		-
2141		-536
2142		-00:26:15,000 ~-~-> 00:26:17,130
2143		-and that's showing 20 pips
2144		-
2145		-537
2146		-00:26:17,549 ~-~-> 00:26:18,659
2147		-I would need this to go
2148		-
2149		-538
2150		-00:26:20,700 ~-~-> 00:26:22,650
2151		-a little bit deeper here
2152		-
2153		-539
2154		-00:26:24,990 ~-~-> 00:26:29,850
2155		-and that's, that's why again I like to
2156		-
2157		-540
2158		-00:26:29,850 ~-~-> 00:26:31,230
2159		-use 30 pips because
2160		-
2161		-541
2162		-00:26:32,640 ~-~-> 00:26:33,600
2163		-let's look at this
2164		-
2165		-542
2166		-00:26:35,700 ~-~-> 00:26:37,890
2167		-okay with this range okay
2168		-
2169		-543
2170		-00:26:41,760 ~-~-> 00:26:43,500
2171		-from that low on that daily range Look
2172		-
2173		-544
2174		-00:26:43,500 ~-~-> 00:26:45,660
2175		-how much of that daily range it consumes
2176		-
2177		-545
2178		-00:26:45,900 ~-~-> 00:26:48,990
2179		-in terms of, you know, total daily range
2180		-
2181		-546
2182		-00:26:49,650 ~-~-> 00:26:52,950
2183		-here look from this dailies Hi guys
2184		-
2185		-547
2186		-00:26:52,950 ~-~-> 00:26:54,720
2187		-today Hi Look how much of that daily
2188		-
2189		-548
2190		-00:26:54,720 ~-~-> 00:26:57,390
2191		-range Okay, it's consumed with that
2192		-
2193		-549
2194		-00:26:57,390 ~-~-> 00:26:58,020
2195		-price most
2196		-
2197		-550
2198		-00:26:58,110 ~-~-> 00:26:59,340
2199		-that magnitude of
2200		-
2201		-551
2202		-00:26:59,339 ~-~-> 00:27:02,129
2203		-price Again, the low
2204		-
2205		-552
2206		-00:27:02,400 ~-~-> 00:27:03,870
2207		-forming right here on that candle right
2208		-
2209		-553
2210		-00:27:03,870 ~-~-> 00:27:04,800
2211		-there as to daily low.
2212		-
2213		-554
2214		-00:27:05,520 ~-~-> 00:27:06,900
2215		-Look how much of that daily range has
2216		-
2217		-555
2218		-00:27:06,900 ~-~-> 00:27:07,830
2219		-been consumed with 30
2220		-
2221		-556
2222		-00:27:07,829 ~-~-> 00:27:08,339
2223		-pips.
2224		-
2225		-557
2226		-00:27:08,640 ~-~-> 00:27:11,130
2227		-So if you combine,
2228		-
2229		-558
2230		-00:27:11,520 ~-~-> 00:27:17,400
2231		-okay, if you're combining the the
2232		-
2233		-559
2234		-00:27:17,400 ~-~-> 00:27:20,370
2235		-mechanics of entering the marketplace at
2236		-
2237		-560
2238		-00:27:20,370 ~-~-> 00:27:23,730
2239		-a specific time during a specific
2240		-
2241		-561
2242		-00:27:26,069 ~-~-> 00:27:28,589
2243		-kill zone like London or New York open
2244		-
2245		-562
2246		-00:27:30,210 ~-~-> 00:27:32,790
2247		-specifically looking for the setup here
2248		-
2249		-563
2250		-00:27:32,820 ~-~-> 00:27:34,830
2251		-even with this stop raid
2252		-
2253		-564
2254		-00:27:34,890 ~-~-> 00:27:36,930
2255		-right there, okay,
2256		-
2257		-565
2258		-00:27:37,049 ~-~-> 00:27:40,349
2259		-right there, you are not
2260		-
2261		-566
2262		-00:27:40,709 ~-~-> 00:27:42,359
2263		-going to miss that opportunity to get
2264		-
2265		-567
2266		-00:27:42,359 ~-~-> 00:27:42,839
2267		-along.
2268		-
2269		-568
2270		-00:27:43,440 ~-~-> 00:27:46,710
2271		-You're not going to. Okay. So when you
2272		-
2273		-569
2274		-00:27:46,710 ~-~-> 00:27:49,110
2275		-see this move price, stabbing down like
2276		-
2277		-570
2278		-00:27:49,110 ~-~-> 00:27:51,000
2279		-this, okay, by having all these levels
2280		-
2281		-571
2282		-00:27:51,000 ~-~-> 00:27:51,780
2283		-identified,
2284		-
2285		-572
2286		-00:27:52,020 ~-~-> 00:27:53,340
2287		-you would at least
2288		-
2289		-573
2290		-00:27:53,339 ~-~-> 00:27:54,929
2291		-be willing to see it trades down to that
2292		-
2293		-574
2294		-00:27:54,929 ~-~-> 00:27:57,539
2295		-point here. And your stop loss isn't
2296		-
2297		-575
2298		-00:27:57,629 ~-~-> 00:28:00,389
2299		-isn't triggered. You're still good chunk
2300		-
2301		-576
2302		-00:28:00,389 ~-~-> 00:28:02,309
2303		-away in terms of pips, there's no
2304		-
2305		-577
2306		-00:28:02,310 ~-~-> 00:28:03,630
2307		-reason for you to be fearful that
2308		-
2309		-578
2310		-00:28:04,139 ~-~-> 00:28:11,039
2311		-Okay, so again 30 pips okay 30 pips. If
2312		-
2313		-579
2314		-00:28:11,309 ~-~-> 00:28:14,249
2315		-you are timing your trade with one shot
2316		-
2317		-580
2318		-00:28:14,249 ~-~-> 00:28:16,469
2319		-one kill looking for the choice days to
2320		-
2321		-581
2322		-00:28:16,469 ~-~-> 00:28:17,849
2323		-be looking for the low to be forming
2324		-
2325		-582
2326		-00:28:18,149 ~-~-> 00:28:21,209
2327		-Monday, Tuesday or Wednesday. Okay? Even
2328		-
2329		-583
2330		-00:28:21,239 ~-~-> 00:28:23,759
2331		-with imperfection with your entry point,
2332		-
2333		-584
2334		-00:28:24,089 ~-~-> 00:28:26,759
2335		-this is why you study pips. Okay? And
2336		-
2337		-585
2338		-00:28:26,789 ~-~-> 00:28:28,379
2339		-for for those of you have already
2340		-
2341		-586
2342		-00:28:28,409 ~-~-> 00:28:30,059
2343		-started thinking earlier on the video Oh
2344		-
2345		-587
2346		-00:28:30,059 ~-~-> 00:28:31,709
2347		-look, he picked the most cherry picking
2348		-
2349		-588
2350		-00:28:31,709 ~-~-> 00:28:33,599
2351		-scenario there is. Now I gave this
2352		-
2353		-589
2354		-00:28:33,599 ~-~-> 00:28:35,399
2355		-scenario to show you how even when my
2356		-
2357		-590
2358		-00:28:35,399 ~-~-> 00:28:38,969
2359		-tools did not give me the perfect entry,
2360		-
2361		-591
2362		-00:28:39,149 ~-~-> 00:28:41,099
2363		-but still allow me to be involved in the
2364		-
2365		-592
2366		-00:28:41,099 ~-~-> 00:28:44,759
2367		-marketplace. Okay. These lows in here,
2368		-
2369		-593
2370		-00:28:44,969 ~-~-> 00:28:46,709
2371		-resting below that would be a nice area
2372		-
2373		-594
2374		-00:28:46,859 ~-~-> 00:28:49,169
2375		-of stops. Okay, so it'd be a liquidity
2376		-
2377		-595
2378		-00:28:49,169 ~-~-> 00:28:49,709
2379		-pool there.
2380		-
2381		-596
2382		-00:28:50,010 ~-~-> 00:28:51,030
2383		-The market rallies up
2384		-
2385		-597
2386		-00:28:51,030 ~-~-> 00:28:52,170
2387		-a little bit and comes right back down,
2388		-
2389		-598
2390		-00:28:52,200 ~-~-> 00:28:55,890
2391		-takes those participants out. Okay, this
2392		-
2393		-599
2394		-00:28:55,890 ~-~-> 00:28:57,540
2395		-is the trick the Judas swing in here to
2396		-
2397		-600
2398		-00:28:57,540 ~-~-> 00:29:00,120
2399		-set that false move lower everyone would
2400		-
2401		-601
2402		-00:29:00,120 ~-~-> 00:29:01,860
2403		-be chasing that prior to the move
2404		-
2405		-602
2406		-00:29:01,860 ~-~-> 00:29:02,190
2407		-higher.
2408		-
2409		-603
2410		-00:29:02,880 ~-~-> 00:29:04,260
2411		-Okay, so
2412		-
2413		-604
2414		-00:29:05,279 ~-~-> 00:29:07,559
2415		-we have the London open in New York open
2416		-
2417		-605
2418		-00:29:08,519 ~-~-> 00:29:09,329
2419		-by having that,
2420		-
2421		-606
2422		-00:29:09,959 ~-~-> 00:29:10,739
2423		-that framework.
2424		-
2425		-607
2426		-00:29:10,770 ~-~-> 00:29:11,850
2427		-Okay, we could be
2428		-
2429		-608
2430		-00:29:11,939 ~-~-> 00:29:13,919
2431		-long in here looking for a move going
2432		-
2433		-609
2434		-00:29:13,919 ~-~-> 00:29:16,979
2435		-into Friday. Okay, here's Thursdays
2436		-
2437		-610
2438		-00:29:16,979 ~-~-> 00:29:21,149
2439		-trading that that week. And Friday does
2440		-
2441		-611
2442		-00:29:21,149 ~-~-> 00:29:24,389
2443		-not make a higher high in here. But now
2444		-
2445		-612
2446		-00:29:24,389 ~-~-> 00:29:27,329
2447		-let's go back to the stop loss, why and
2448		-
2449		-613
2450		-00:29:27,329 ~-~-> 00:29:30,119
2451		-how we manage them. You're going to see
2452		-
2453		-614
2454		-00:29:30,119 ~-~-> 00:29:32,939
2455		-why again, I use this specific example
2456		-
2457		-615
2458		-00:29:32,939 ~-~-> 00:29:34,589
2459		-because again, it shows you how you get
2460		-
2461		-616
2462		-00:29:34,589 ~-~-> 00:29:36,479
2463		-to the lions portion of the move, and
2464		-
2465		-617
2466		-00:29:36,479 ~-~-> 00:29:38,309
2467		-you're not absolutely getting a low
2468		-
2469		-618
2470		-00:29:38,339 ~-~-> 00:29:39,899
2471		-you're not absolutely getting a high.
2472		-
2473		-619
2474		-00:29:40,079 ~-~-> 00:29:42,149
2475		-Okay, so now let's assume from what you
2476		-
2477		-620
2478		-00:29:42,179 ~-~-> 00:29:43,889
2479		-went long in here, your stop loss
2480		-
2481		-621
2482		-00:29:43,889 ~-~-> 00:29:46,949
2483		-obviously as we just detailed is down
2484		-
2485		-622
2486		-00:29:46,949 ~-~-> 00:29:50,009
2487		-here. Okay. So by having this entry
2488		-
2489		-623
2490		-00:29:50,009 ~-~-> 00:29:53,519
2491		-point, the market moves up. Okay, we're
2492		-
2493		-624
2494		-00:29:53,519 ~-~-> 00:29:55,529
2495		-looking at a 15 minute timeframe. What
2496		-
2497		-625
2498		-00:29:55,529 ~-~-> 00:29:57,269
2499		-you're going to look for are the swing
2500		-
2501		-626
2502		-00:29:57,270 ~-~-> 00:29:57,930
2503		-lows
2504		-
2505		-627
2506		-00:29:58,170 ~-~-> 00:29:59,640
2507		-on the 15 minute time frame.
2508		-
2509		-628
2510		-00:30:00,000 ~-~-> 00:30:02,640
2511		-And you're gonna be looking at the most
2512		-
2513		-629
2514		-00:30:02,970 ~-~-> 00:30:05,370
2515		-recent two as the market starts to move
2516		-
2517		-630
2518		-00:30:05,370 ~-~-> 00:30:07,320
2519		-up. Okay, we took out the previous day's
2520		-
2521		-631
2522		-00:30:07,320 ~-~-> 00:30:08,640
2523		-high here, right there,
2524		-
2525		-632
2526		-00:30:09,030 ~-~-> 00:30:11,730
2527		-okay? So it's this swing low,
2528		-
2529		-633
2530		-00:30:12,000 ~-~-> 00:30:13,500
2531		-and then when this swing low forms,
2532		-
2533		-634
2534		-00:30:13,500 ~-~-> 00:30:15,720
2535		-okay, here's this one and this one. So
2536		-
2537		-635
2538		-00:30:15,720 ~-~-> 00:30:17,250
2539		-now you can move your stop loss from
2540		-
2541		-636
2542		-00:30:17,250 ~-~-> 00:30:21,060
2543		-134 85 up to this low here just a little
2544		-
2545		-637
2546		-00:30:21,060 ~-~-> 00:30:21,600
2547		-bit below.
2548		-
2549		-638
2550		-00:30:23,160 ~-~-> 00:30:24,990
2551		-Okay, so now
2552		-
2553		-639
2554		-00:30:25,289 ~-~-> 00:30:32,069
2555		-by having that set up like that. So
2556		-
2557		-640
2558		-00:30:32,069 ~-~-> 00:30:35,399
2559		-now, again, looking at how the market
2560		-
2561		-641
2562		-00:30:35,399 ~-~-> 00:30:37,979
2563		-moves higher, this would be a nice
2564		-
2565		-642
2566		-00:30:37,979 ~-~-> 00:30:40,499
2567		-level, take some profits, okay, but now
2568		-
2569		-643
2570		-00:30:40,499 ~-~-> 00:30:42,239
2571		-we're going to be looking to preserve
2572		-
2573		-644
2574		-00:30:42,269 ~-~-> 00:30:45,569
2575		-our open position. Okay. So if we took a
2576		-
2577		-645
2578		-00:30:45,569 ~-~-> 00:30:47,129
2579		-portion of the trade off in this area
2580		-
2581		-646
2582		-00:30:47,129 ~-~-> 00:30:48,809
2583		-here based on the previous day's high,
2584		-
2585		-647
2586		-00:30:49,559 ~-~-> 00:30:52,049
2587		-nice reason to take it out, not all of
2588		-
2589		-648
2590		-00:30:52,049 ~-~-> 00:30:54,959
2591		-the trade but some of it. Okay, we have
2592		-
2593		-649
2594		-00:30:55,109 ~-~-> 00:30:56,579
2595		-when the market starts to move up and
2596		-
2597		-650
2598		-00:30:56,579 ~-~-> 00:31:00,239
2599		-take out this high here, we have This
2600		-
2601		-651
2602		-00:31:00,239 ~-~-> 00:31:02,849
2603		-low and this low, but now we have
2604		-
2605		-652
2606		-00:31:04,170 ~-~-> 00:31:05,310
2607		-this swing low here,
2608		-
2609		-653
2610		-00:31:05,670 ~-~-> 00:31:08,880
2611		-okay. So now you have this low and this
2612		-
2613		-654
2614		-00:31:08,880 ~-~-> 00:31:13,740
2615		-low. So now you can move your stop up to
2616		-
2617		-655
2618		-00:31:13,740 ~-~-> 00:31:17,340
2619		-just below this low. Okay, so over here
2620		-
2621		-656
2622		-00:31:17,340 ~-~-> 00:31:19,530
2623		-your stop loss would be read about in
2624		-
2625		-657
2626		-00:31:19,590 ~-~-> 00:31:22,680
2627		-this vicinity right here. Okay, market
2628		-
2629		-658
2630		-00:31:22,680 ~-~-> 00:31:25,920
2631		-comes down comes down, does not read it.
2632		-
2633		-659
2634		-00:31:26,160 ~-~-> 00:31:28,920
2635		-Okay, as the market starts to make a
2636		-
2637		-660
2638		-00:31:28,920 ~-~-> 00:31:31,410
2639		-lower low here than this one here. Are
2640		-
2641		-661
2642		-00:31:31,410 ~-~-> 00:31:34,380
2643		-you nervous? Probably are. But are you
2644		-
2645		-662
2646		-00:31:34,380 ~-~-> 00:31:36,540
2647		-stopped out? No. So what do you follow
2648		-
2649		-663
2650		-00:31:36,630 ~-~-> 00:31:39,390
2651		-the rules or your emotions, the rules,
2652		-
2653		-664
2654		-00:31:39,660 ~-~-> 00:31:42,150
2655		-okay, so now, when the market starts to
2656		-
2657		-665
2658		-00:31:42,150 ~-~-> 00:31:44,250
2659		-rally up here and takes out this high
2660		-
2661		-666
2662		-00:31:44,250 ~-~-> 00:31:47,010
2663		-here, right on this candle here, you
2664		-
2665		-667
2666		-00:31:47,010 ~-~-> 00:31:50,010
2667		-look at where we're at in terms of swing
2668		-
2669		-668
2670		-00:31:50,010 ~-~-> 00:31:52,770
2671		-lows, we have this swing low in this
2672		-
2673		-669
2674		-00:31:52,770 ~-~-> 00:31:55,560
2675		-swing low, which is the last of the most
2676		-
2677		-670
2678		-00:31:55,560 ~-~-> 00:31:57,390
2679		-two reasons swing lows. It's this one
2680		-
2681		-671
2682		-00:31:57,390 ~-~-> 00:31:58,830
2683		-here. So you would be able to move your
2684		-
2685		-672
2686		-00:31:58,830 ~-~-> 00:31:59,580
2687		-stop loss
2688		-
2689		-673
2690		-00:32:00,630 ~-~-> 00:32:02,460
2691		-Just below that one. Okay,
2692		-
2693		-674
2694		-00:32:02,880 ~-~-> 00:32:04,860
2695		-so now as the market rallies up, okay,
2696		-
2697		-675
2698		-00:32:04,890 ~-~-> 00:32:08,790
2699		-it starts to drip lower. And here we
2700		-
2701		-676
2702		-00:32:08,790 ~-~-> 00:32:10,500
2703		-have not made any new higher highs,
2704		-
2705		-677
2706		-00:32:10,980 ~-~-> 00:32:12,900
2707		-market eventually comes down and boom
2708		-
2709		-678
2710		-00:32:12,960 ~-~-> 00:32:15,480
2711		-takes you right out. Right at your stop.
2712		-
2713		-679
2714		-00:32:15,870 ~-~-> 00:32:17,910
2715		-Okay? And what happens as a result?
2716		-
2717		-680
2718		-00:32:23,490 ~-~-> 00:32:24,450
2719		-Are you upset about it?
2720		-
2721		-681
2722		-00:32:25,530 ~-~-> 00:32:28,350
2723		-No, you controlled your risk. Did you
2724		-
2725		-682
2726		-00:32:28,350 ~-~-> 00:32:30,270
2727		-make money in this example?
2728		-
2729		-683
2730		-00:32:30,660 ~-~-> 00:32:33,930
2731		-hypothetically you would have. Okay, so
2732		-
2733		-684
2734		-00:32:33,930 ~-~-> 00:32:38,190
2735		-that's one example using the stop loss
2736		-
2737		-685
2738		-00:32:38,250 ~-~-> 00:32:41,490
2739		-rules and applying the weekly ranges and
2740		-
2741		-686
2742		-00:32:41,490 ~-~-> 00:32:41,940
2743		-such.
2744		-
2745		-687
2746		-00:32:43,319 ~-~-> 00:32:44,729
2747		-Let's look at again,
2748		-
2749		-688
2750		-00:32:45,420 ~-~-> 00:32:49,470
2751		-assuming we got in at 135 15 and you got
2752		-
2753		-689
2754		-00:32:49,470 ~-~-> 00:32:51,270
2755		-stopped out on your whatever the balance
2756		-
2757		-690
2758		-00:32:51,270 ~-~-> 00:32:53,220
2759		-would be. That's 66 pips. Do you
2760		-
2761		-691
2762		-00:32:53,220 ~-~-> 00:32:54,450
2763		-remember at the beginning of this video
2764		-
2765		-692
2766		-00:32:54,450 ~-~-> 00:32:57,690
2767		-series, we talked about how 30 to 50
2768		-
2769		-693
2770		-00:32:57,690 ~-~-> 00:33:00,000
2771		-pips a week, you can build a career
2772		-
2773		-694
2774		-00:33:00,000 ~-~-> 00:33:00,450
2775		-You're on.
2776		-
2777		-695
2778		-00:33:01,230 ~-~-> 00:33:02,910
2779		-There's 60 pips
2780		-
2781		-696
2782		-00:33:03,030 ~-~-> 00:33:04,230
2783		-laid, raise your feet Did you trade
2784		-
2785		-697
2786		-00:33:04,230 ~-~-> 00:33:04,830
2787		-every single day?
2788		-
2789		-698
2790		-00:33:04,890 ~-~-> 00:33:07,740
2791		-No. Did you? Did you beat your head
2792		-
2793		-699
2794		-00:33:07,740 ~-~-> 00:33:08,880
2795		-against the wall trying to figure out
2796		-
2797		-700
2798		-00:33:09,000 ~-~-> 00:33:10,950
2799		-where the next bat pattern is? Where the
2800		-
2801		-701
2802		-00:33:10,950 ~-~-> 00:33:13,440
2803		-next crab pattern is? The next ICT
2804		-
2805		-702
2806		-00:33:13,440 ~-~-> 00:33:16,770
2807		-reflection is No. Okay, you would have a
2808		-
2809		-703
2810		-00:33:16,770 ~-~-> 00:33:18,780
2811		-clear cut routine that you would look
2812		-
2813		-704
2814		-00:33:18,780 ~-~-> 00:33:21,870
2815		-for specifically, every single week, you
2816		-
2817		-705
2818		-00:33:21,870 ~-~-> 00:33:23,070
2819		-should know what you're going to be
2820		-
2821		-706
2822		-00:33:23,070 ~-~-> 00:33:23,670
2823		-looking for.
2824		-
2825		-707
2826		-00:33:23,880 ~-~-> 00:33:25,230
2827		-Okay? Are you gonna be looking to be a
2828		-
2829		-708
2830		-00:33:25,230 ~-~-> 00:33:25,650
2831		-buyer
2832		-
2833		-709
2834		-00:33:25,859 ~-~-> 00:33:27,449
2835		-or a seller or sitting your hands,
2836		-
2837		-710
2838		-00:33:27,809 ~-~-> 00:33:28,949
2839		-okay? Or are
2840		-
2841		-711
2842		-00:33:28,949 ~-~-> 00:33:30,299
2843		-you preserving your capital because
2844		-
2845		-712
2846		-00:33:30,299 ~-~-> 00:33:31,079
2847		-you're already in position.
2848		-
2849		-713
2850		-00:33:31,770 ~-~-> 00:33:33,900
2851		-You're either managing, executing or
2852		-
2853		-714
2854		-00:33:33,900 ~-~-> 00:33:34,470
2855		-singing.
2856		-
2857		-715
2858		-00:33:34,890 ~-~-> 00:33:36,090
2859		-Simple, okay.
2860		-
2861		-716
2862		-00:33:37,470 ~-~-> 00:33:39,630
2863		-Now, with all that
2864		-
2865		-717
2866		-00:33:43,680 ~-~-> 00:33:48,120
2867		-the topic of daily ranges will be much,
2868		-
2869		-718
2870		-00:33:48,120 ~-~-> 00:33:52,260
2871		-much more involved in the eighth
2872		-
2873		-719
2874		-00:33:52,650 ~-~-> 00:33:54,090
2875		-installment of this series, because
2876		-
2877		-720
2878		-00:33:54,090 ~-~-> 00:33:55,770
2879		-we're going to talk about the five day
2880		-
2881		-721
2882		-00:33:55,830 ~-~-> 00:33:59,070
2883		-average daily range. We're just going to
2884		-
2885		-722
2886		-00:33:59,070 ~-~-> 00:34:01,470
2887		-briefly mention it here. But I'm going
2888		-
2889		-723
2890		-00:34:01,470 ~-~-> 00:34:04,290
2891		-to reserve a much more in depth
2892		-
2893		-724
2894		-00:34:04,290 ~-~-> 00:34:06,600
2895		-discussion until the eighth video
2896		-
2897		-725
2898		-00:34:06,600 ~-~-> 00:34:09,420
2899		-because I'm actually gonna have
2900		-
2901		-726
2902		-00:34:10,230 ~-~-> 00:34:10,980
2903		-the tool
2904		-
2905		-727
2906		-00:34:11,190 ~-~-> 00:34:13,170
2907		-released at the time I do the video
2908		-
2909		-728
2910		-00:34:13,170 ~-~-> 00:34:14,100
2911		-upload as well so,
2912		-
2913		-729
2914		-00:34:15,360 ~-~-> 00:34:16,590
2915		-but those of you don't have
2916		-
2917		-730
2918		-00:34:17,310 ~-~-> 00:34:18,570
2919		-the five, the average
2920		-
2921		-731
2922		-00:34:19,620 ~-~-> 00:34:21,600
2923		-daily range indicator for mt four,
2924		-
2925		-732
2926		-00:34:22,320 ~-~-> 00:34:23,910
2927		-you'll be able to get it for free. I'll
2928		-
2929		-733
2930		-00:34:23,910 ~-~-> 00:34:25,440
2931		-share it with you. That's the one you
2932		-
2933		-734
2934		-00:34:25,440 ~-~-> 00:34:28,710
2935		-see me using in my videos. But
2936		-
2937		-735
2938		-00:34:30,300 ~-~-> 00:34:33,420
2939		-regardless of what type of trader you
2940		-
2941		-736
2942		-00:34:33,420 ~-~-> 00:34:35,640
2943		-are, okay, and we're gonna be talking
2944		-
2945		-737
2946		-00:34:35,640 ~-~-> 00:34:39,600
2947		-about trade classifications Now, why is
2948		-
2949		-738
2950		-00:34:39,600 ~-~-> 00:34:41,760
2951		-important? And what's the big deal?
2952		-
2953		-739
2954		-00:34:41,790 ~-~-> 00:34:45,480
2955		-Okay, number one, if you are short term
2956		-
2957		-740
2958		-00:34:45,480 ~-~-> 00:34:48,690
2959		-trading, okay. For instance, everything
2960		-
2961		-741
2962		-00:34:48,690 ~-~-> 00:34:51,510
2963		-was bullish going into this week here.
2964		-
2965		-742
2966		-00:34:52,110 ~-~-> 00:34:53,730
2967		-Maybe you saw this as a selling
2968		-
2969		-743
2970		-00:34:53,730 ~-~-> 00:34:55,290
2971		-opportunity on the lower timeframe maybe
2972		-
2973		-744
2974		-00:34:55,290 ~-~-> 00:34:56,610
2975		-this is an optimal trade entry that you
2976		-
2977		-745
2978		-00:34:56,700 ~-~-> 00:34:59,250
2979		-you sold into. Okay in the market came
2980		-
2981		-746
2982		-00:34:59,250 ~-~-> 00:35:01,680
2983		-down You're thinking, wow, I'm really
2984		-
2985		-747
2986		-00:35:01,680 ~-~-> 00:35:03,360
2987		-smart. I'm making money. But all of a
2988		-
2989		-748
2990		-00:35:03,360 ~-~-> 00:35:05,940
2991		-sudden you married a vein. The higher
2992		-
2993		-749
2994		-00:35:05,940 ~-~-> 00:35:08,550
2995		-timeframe intermediate term trade setup,
2996		-
2997		-750
2998		-00:35:08,700 ~-~-> 00:35:11,700
2999		-based on the daily timeframe suggests
3000		-
3001		-751
3002		-00:35:11,700 ~-~-> 00:35:12,990
3003		-that this thing's going higher,
3004		-
3005		-752
3006		-00:35:13,470 ~-~-> 00:35:15,000
3007		-technically, can it
3008		-
3009		-753
3010		-00:35:15,210 ~-~-> 00:35:18,480
3011		-always unfold like that? No. Sometimes
3012		-
3013		-754
3014		-00:35:18,480 ~-~-> 00:35:21,450
3015		-you're gonna have where the technicals
3016		-
3017		-755
3018		-00:35:21,450 ~-~-> 00:35:23,250
3019		-suggest it may continue to go higher,
3020		-
3021		-756
3022		-00:35:23,250 ~-~-> 00:35:24,660
3023		-but it doesn't do it. Okay. And that's
3024		-
3025		-757
3026		-00:35:24,660 ~-~-> 00:35:26,730
3027		-when you get to climax reversals. We're
3028		-
3029		-758
3030		-00:35:26,730 ~-~-> 00:35:29,070
3031		-not covering that in this series, it's
3032		-
3033		-759
3034		-00:35:29,070 ~-~-> 00:35:30,390
3035		-important that you understand it. That's
3036		-
3037		-760
3038		-00:35:30,390 ~-~-> 00:35:32,220
3039		-not what I'm trying to teach you here.
3040		-
3041		-761
3042		-00:35:32,490 ~-~-> 00:35:34,320
3043		-I'm trying to teach you to trade within
3044		-
3045		-762
3046		-00:35:34,740 ~-~-> 00:35:37,680
3047		-that big lines portion of the moose.
3048		-
3049		-763
3050		-00:35:37,680 ~-~-> 00:35:39,750
3051		-That's all you need. You don't need to
3052		-
3053		-764
3054		-00:35:39,750 ~-~-> 00:35:41,460
3055		-be specific highs and lows. You don't
3056		-
3057		-765
3058		-00:35:41,460 ~-~-> 00:35:44,370
3059		-need that. Okay. So that's the powerful
3060		-
3061		-766
3062		-00:35:44,520 ~-~-> 00:35:47,760
3063		-concepts coming through and bleeding out
3064		-
3065		-767
3066		-00:35:47,760 ~-~-> 00:35:50,700
3067		-all the high end nervousness that is
3068		-
3069		-768
3070		-00:35:50,820 ~-~-> 00:35:52,290
3071		-presented with traders to feel like they
3072		-
3073		-769
3074		-00:35:52,290 ~-~-> 00:35:53,370
3075		-gotta catch the highs and lows you don't
3076		-
3077		-770
3078		-00:35:53,370 ~-~-> 00:35:55,710
3079		-need to. Okay. Notice that this trade
3080		-
3081		-771
3082		-00:35:55,710 ~-~-> 00:35:57,660
3083		-setup was not the load week. The load
3084		-
3085		-772
3086		-00:35:57,660 ~-~-> 00:35:58,620
3087		-week was for no Monday.
3088		-
3089		-773
3090		-00:35:59,010 ~-~-> 00:36:01,200
3091		-Okay. This was a nice move.
3092		-
3093		-774
3094		-00:36:01,350 ~-~-> 00:36:02,760
3095		-I'm not going to argue with anybody that
3096		-
3097		-775
3098		-00:36:02,760 ~-~-> 00:36:05,070
3099		-would be short this okay? Say you short
3100		-
3101		-776
3102		-00:36:05,070 ~-~-> 00:36:06,510
3103		-it up in this area here around the ad.
3104		-
3105		-777
3106		-00:36:07,200 ~-~-> 00:36:10,020
3107		-Come down here around. It's 60 pips.
3108		-
3109		-778
3110		-00:36:10,440 ~-~-> 00:36:11,430
3111		-There's nothing wrong with that that's
3112		-
3113		-779
3114		-00:36:11,430 ~-~-> 00:36:12,750
3115		-equivalent to what we would have made on
3116		-
3117		-780
3118		-00:36:12,750 ~-~-> 00:36:15,000
3119		-this trade. So what? That's not your
3120		-
3121		-781
3122		-00:36:15,000 ~-~-> 00:36:15,570
3123		-trade.
3124		-
3125		-782
3126		-00:36:16,140 ~-~-> 00:36:17,400
3127		-That's not your
3128		-
3129		-783
3130		-00:36:17,490 ~-~-> 00:36:19,350
3131		-trade. And that's how you look at it.
3132		-
3133		-784
3134		-00:36:19,770 ~-~-> 00:36:21,090
3135		-guys can come on the forums all day
3136		-
3137		-785
3138		-00:36:21,090 ~-~-> 00:36:22,920
3139		-long. I took this trade and I took that,
3140		-
3141		-786
3142		-00:36:23,220 ~-~-> 00:36:25,020
3143		-who cares, you can't make any money on
3144		-
3145		-787
3146		-00:36:25,020 ~-~-> 00:36:27,060
3147		-that trade. And you can't lose any money
3148		-
3149		-788
3150		-00:36:27,060 ~-~-> 00:36:29,760
3151		-on either. You can't gain any glory. And
3152		-
3153		-789
3154		-00:36:29,760 ~-~-> 00:36:31,260
3155		-you can't swallow any pride over either.
3156		-
3157		-790
3158		-00:36:31,710 ~-~-> 00:36:33,120
3159		-So with differences in make,
3160		-
3161		-791
3162		-00:36:33,810 ~-~-> 00:36:34,380
3163		-while it's
3164		-
3165		-792
3166		-00:36:34,500 ~-~-> 00:36:36,660
3167		-it educational, and inspiring to see
3168		-
3169		-793
3170		-00:36:36,660 ~-~-> 00:36:40,170
3171		-other people's results, do not assume
3172		-
3173		-794
3174		-00:36:40,170 ~-~-> 00:36:41,250
3175		-that that should have been traded, you
3176		-
3177		-795
3178		-00:36:41,250 ~-~-> 00:36:43,740
3179		-should have thought Why did you do the
3180		-
3181		-796
3182		-00:36:43,740 ~-~-> 00:36:45,300
3183		-homework on that trade going into it?
3184		-
3185		-797
3186		-00:36:45,540 ~-~-> 00:36:46,680
3187		-Because if you didn't do it's not your
3188		-
3189		-798
3190		-00:36:46,680 ~-~-> 00:36:49,710
3191		-trade, okay? So keep that in mind. You
3192		-
3193		-799
3194		-00:36:49,710 ~-~-> 00:36:53,640
3195		-have no reason, no reason whatsoever to
3196		-
3197		-800
3198		-00:36:53,640 ~-~-> 00:36:55,440
3199		-worry about what the next guy is doing?
3200		-
3201		-801
3202		-00:36:55,530 ~-~-> 00:36:55,860
3203		-None.
3204		-
3205		-802
3206		-00:36:56,790 ~-~-> 00:36:57,960
3207		-Okay, so
3208		-
3209		-803
3210		-00:37:00,000 ~-~-> 00:37:02,400
3211		-That's why the average daily range is
3212		-
3213		-804
3214		-00:37:02,550 ~-~-> 00:37:05,550
3215		-going to be crucial to us in the eighth
3216		-
3217		-805
3218		-00:37:05,550 ~-~-> 00:37:06,660
3219		-video, but for now we're just gonna
3220		-
3221		-806
3222		-00:37:06,660 ~-~-> 00:37:07,500
3223		-understand that we're going to have to
3224		-
3225		-807
3226		-00:37:07,500 ~-~-> 00:37:09,630
3227		-learn to take something off regardless
3228		-
3229		-808
3230		-00:37:09,660 ~-~-> 00:37:12,540
3231		-of what type of trader we're trading
3232		-
3233		-809
3234		-00:37:12,540 ~-~-> 00:37:14,010
3235		-within either intermediate term,
3236		-
3237		-810
3238		-00:37:15,660 ~-~-> 00:37:16,500
3239		-short term,
3240		-
3241		-811
3242		-00:37:17,040 ~-~-> 00:37:20,100
3243		-day trade or scalping. But if you are
3244		-
3245		-812
3246		-00:37:20,100 ~-~-> 00:37:22,110
3247		-marrying the vein here and looking to be
3248		-
3249		-813
3250		-00:37:22,110 ~-~-> 00:37:24,270
3251		-a seller on this Tuesday, with an
3252		-
3253		-814
3254		-00:37:24,270 ~-~-> 00:37:26,040
3255		-overall higher level intermediate term
3256		-
3257		-815
3258		-00:37:26,040 ~-~-> 00:37:28,740
3259		-bullishness on your way, you will marry
3260		-
3261		-816
3262		-00:37:28,740 ~-~-> 00:37:30,720
3263		-this vein here and you'll if you don't
3264		-
3265		-817
3266		-00:37:30,720 ~-~-> 00:37:32,490
3267		-manage your stops, right, okay, you can
3268		-
3269		-818
3270		-00:37:32,490 ~-~-> 00:37:34,890
3271		-get killed. Okay, look at that, man, it
3272		-
3273		-819
3274		-00:37:34,890 ~-~-> 00:37:35,970
3275		-didn't take very long for this market
3276		-
3277		-820
3278		-00:37:35,970 ~-~-> 00:37:37,230
3279		-come back up to that high here.
3280		-
3281		-821
3282		-00:37:38,100 ~-~-> 00:37:39,150
3283		-Okay, so
3284		-
3285		-822
3286		-00:37:39,930 ~-~-> 00:37:41,340
3287		-all those folks that were shorting here
3288		-
3289		-823
3290		-00:37:41,340 ~-~-> 00:37:43,680
3291		-and didn't use proper trade management,
3292		-
3293		-824
3294		-00:37:43,950 ~-~-> 00:37:46,530
3295		-okay, and risk controls in preserving
3296		-
3297		-825
3298		-00:37:46,530 ~-~-> 00:37:49,860
3299		-capital and taking profits as the market
3300		-
3301		-826
3302		-00:37:49,860 ~-~-> 00:37:52,350
3303		-moves lower. If you were thinking get in
3304		-
3305		-827
3306		-00:37:52,350 ~-~-> 00:37:54,360
3307		-I'm gonna get out all my profit at my
3308		-
3309		-828
3310		-00:37:54,360 ~-~-> 00:37:56,100
3311		-target. That's it. It's either all or
3312		-
3313		-829
3314		-00:37:56,100 ~-~-> 00:37:57,780
3315		-nothing. Well, guess what you boom, you
3316		-
3317		-830
3318		-00:37:57,780 ~-~-> 00:38:00,600
3319		-got nothing. Okay, that's With this
3320		-
3321		-831
3322		-00:38:00,600 ~-~-> 00:38:02,250
3323		-video is going to be dealing with why
3324		-
3325		-832
3326		-00:38:02,250 ~-~-> 00:38:03,750
3327		-it's important for you to take something
3328		-
3329		-833
3330		-00:38:03,780 ~-~-> 00:38:05,970
3331		-off, because you're never going to be
3332		-
3333		-834
3334		-00:38:05,970 ~-~-> 00:38:08,310
3335		-100%. As long as I've been doing this
3336		-
3337		-835
3338		-00:38:08,400 ~-~-> 00:38:11,100
3339		-almost 20 years, I'm not always right.
3340		-
3341		-836
3342		-00:38:11,760 ~-~-> 00:38:13,470
3343		-I'm not always right to where it's going
3344		-
3345		-837
3346		-00:38:13,470 ~-~-> 00:38:16,800
3347		-to go to. Okay, so I work within a 75 to
3348		-
3349		-838
3350		-00:38:16,800 ~-~-> 00:38:18,750
3351		-80% range of what I think the move is
3352		-
3353		-839
3354		-00:38:18,750 ~-~-> 00:38:20,370
3355		-going to do a drop back down to about
3356		-
3357		-840
3358		-00:38:20,400 ~-~-> 00:38:23,010
3359		-80%, sometimes even 70% of what I expect
3360		-
3361		-841
3362		-00:38:23,010 ~-~-> 00:38:25,170
3363		-to see in terms of magnitude moving
3364		-
3365		-842
3366		-00:38:25,170 ~-~-> 00:38:26,580
3367		-higher or lower. And that's what I'm
3368		-
3369		-843
3370		-00:38:26,580 ~-~-> 00:38:28,350
3371		-trying to get to. I'll let the rest of
3372		-
3373		-844
3374		-00:38:28,350 ~-~-> 00:38:29,760
3375		-these guys out to beat their chests and
3376		-
3377		-845
3378		-00:38:29,760 ~-~-> 00:38:31,050
3379		-say, Look, man, I got all the move.
3380		-
3381		-846
3382		-00:38:31,170 ~-~-> 00:38:35,130
3383		-Good. I applaud you. But over time, you
3384		-
3385		-847
3386		-00:38:35,130 ~-~-> 00:38:37,740
3387		-will not be doing that. I guarantee you,
3388		-
3389		-848
3390		-00:38:37,740 ~-~-> 00:38:39,600
3391		-you will not be doing it. So don't go
3392		-
3393		-849
3394		-00:38:39,600 ~-~-> 00:38:41,100
3395		-into this game thinking that that's what
3396		-
3397		-850
3398		-00:38:41,100 ~-~-> 00:38:41,760
3399		-you should be doing.
3400		-
3401		-851
3402		-00:38:41,940 ~-~-> 00:38:43,290
3403		-Okay. So now
3404		-
3405		-852
3406		-00:38:44,310 ~-~-> 00:38:46,830
3407		-with the five day average daily range
3408		-
3409		-853
3410		-00:38:46,860 ~-~-> 00:38:48,150
3411		-mentioned briefly that you should be
3412		-
3413		-854
3414		-00:38:48,150 ~-~-> 00:38:49,350
3415		-always trying to take some profit off
3416		-
3417		-855
3418		-00:38:49,350 ~-~-> 00:38:49,650
3419		-there.
3420		-
3421		-856
3422		-00:38:49,980 ~-~-> 00:38:51,750
3423		-Okay, let's talk about
3424		-
3425		-857
3426		-00:38:52,170 ~-~-> 00:38:54,930
3427		-multiple timeframe trading. Okay,
3428		-
3429		-858
3430		-00:38:54,930 ~-~-> 00:38:57,240
3431		-multiple timeframe trading. Again, we
3432		-
3433		-859
3434		-00:38:57,240 ~-~-> 00:38:59,280
3435		-discussed obviously the daily chart is
3436		-
3437		-860
3438		-00:38:59,850 ~-~-> 00:39:01,440
3439		-you Use for intermediate term trading
3440		-
3441		-861
3442		-00:39:01,680 ~-~-> 00:39:05,310
3443		-okay or swing trading. Then you have the
3444		-
3445		-862
3446		-00:39:05,310 ~-~-> 00:39:07,830
3447		-short term trading which is classified
3448		-
3449		-863
3450		-00:39:08,040 ~-~-> 00:39:10,230
3451		-and the analysis is done with a four
3452		-
3453		-864
3454		-00:39:10,230 ~-~-> 00:39:13,860
3455		-hour chart. Then you have the day trades
3456		-
3457		-865
3458		-00:39:13,860 ~-~-> 00:39:16,530
3459		-that are arrived by analysis on the one
3460		-
3461		-866
3462		-00:39:16,530 ~-~-> 00:39:19,080
3463		-hour chart and then anything at 15
3464		-
3465		-867
3466		-00:39:19,080 ~-~-> 00:39:21,570
3467		-minutes or five minutes is obviously
3468		-
3469		-868
3470		-00:39:21,600 ~-~-> 00:39:22,290
3471		-scalping.
3472		-
3473		-869
3474		-00:39:22,499 ~-~-> 00:39:23,849
3475		-Okay. So,
3476		-
3477		-870
3478		-00:39:24,509 ~-~-> 00:39:25,949
3479		-when I say scalping, I'm not talking
3480		-
3481		-871
3482		-00:39:25,949 ~-~-> 00:39:27,839
3483		-three pips and five pips and six pips
3484		-
3485		-872
3486		-00:39:27,839 ~-~-> 00:39:29,369
3487		-that's not that that to me. That's
3488		-
3489		-873
3490		-00:39:29,669 ~-~-> 00:39:33,359
3491		-that's goober trading. Okay, if you
3492		-
3493		-874
3494		-00:39:33,359 ~-~-> 00:39:34,499
3495		-can't at least make
3496		-
3497		-875
3498		-00:39:35,099 ~-~-> 00:39:37,589
3499		-15 to 20 pips on the setup.
3500		-
3501		-876
3502		-00:39:37,979 ~-~-> 00:39:40,619
3503		-Don't even do it. Okay, now I want How
3504		-
3505		-877
3506		-00:39:40,619 ~-~-> 00:39:42,749
3507		-am I saying, if you can't make, there's
3508		-
3509		-878
3510		-00:39:42,749 ~-~-> 00:39:43,829
3511		-no guarantee that anything's gonna
3512		-
3513		-879
3514		-00:39:43,829 ~-~-> 00:39:45,749
3515		-unfold it says like, reward or risk,
3516		-
3517		-880
3518		-00:39:45,749 ~-~-> 00:39:47,009
3519		-there's no guarantee that those things
3520		-
3521		-881
3522		-00:39:47,039 ~-~-> 00:39:49,469
3523		-are panning out. But if you don't at
3524		-
3525		-882
3526		-00:39:49,469 ~-~-> 00:39:51,959
3527		-least plan to hold trade to make at
3528		-
3529		-883
3530		-00:39:51,959 ~-~-> 00:39:54,209
3531		-least 15 to 20 pips, if it moves
3532		-
3533		-884
3534		-00:39:54,209 ~-~-> 00:39:57,359
3535		-favorable for you, then it should not be
3536		-
3537		-885
3538		-00:39:57,359 ~-~-> 00:39:59,369
3539		-taken as a trade. That's just the way I
3540		-
3541		-886
3542		-00:39:59,369 ~-~-> 00:40:01,409
3543		-look at it. You may argue with you and
3544		-
3545		-887
3546		-00:40:01,409 ~-~-> 00:40:03,089
3547		-say, you know, I won't I can make 10
3548		-
3549		-888
3550		-00:40:03,089 ~-~-> 00:40:05,489
3551		-pips 20 times a day. Great, then you're
3552		-
3553		-889
3554		-00:40:05,489 ~-~-> 00:40:07,319
3555		-a good trader, and I'll leave it there.
3556		-
3557		-890
3558		-00:40:07,589 ~-~-> 00:40:09,659
3559		-But you're watching this video wanting
3560		-
3561		-891
3562		-00:40:09,659 ~-~-> 00:40:11,759
3563		-to know what I do, not necessarily
3564		-
3565		-892
3566		-00:40:11,759 ~-~-> 00:40:14,039
3567		-having to have to do it. But I look at
3568		-
3569		-893
3570		-00:40:14,039 ~-~-> 00:40:15,149
3571		-the market where if I can't make at
3572		-
3573		-894
3574		-00:40:15,149 ~-~-> 00:40:17,399
3575		-least 15 and 20 pips, or at least
3576		-
3577		-895
3578		-00:40:17,399 ~-~-> 00:40:18,839
3579		-willing to hold it in that in that
3580		-
3581		-896
3582		-00:40:18,839 ~-~-> 00:40:20,849
3583		-magnitude of pips, I'm not taking the
3584		-
3585		-897
3586		-00:40:20,849 ~-~-> 00:40:24,149
3587		-trade, okay. And that's usually where
3588		-
3589		-898
3590		-00:40:24,149 ~-~-> 00:40:26,129
3591		-I'm using trying to either take
3592		-
3593		-899
3594		-00:40:26,129 ~-~-> 00:40:27,719
3595		-something off the trade or aggressively
3596		-
3597		-900
3598		-00:40:27,719 ~-~-> 00:40:29,429
3599		-move the stop up to even more taking
3600		-
3601		-901
3602		-00:40:29,429 ~-~-> 00:40:30,749
3603		-some of the risk off at least.
3604		-
3605		-902
3606		-00:40:31,530 ~-~-> 00:40:32,040
3607		-So now,
3608		-
3609		-903
3610		-00:40:32,880 ~-~-> 00:40:34,620
3611		-because we classified the trade in terms
3612		-
3613		-904
3614		-00:40:34,620 ~-~-> 00:40:37,440
3615		-of intermediate term, short term, day
3616		-
3617		-905
3618		-00:40:37,440 ~-~-> 00:40:40,260
3619		-trades and scalping, we have to also
3620		-
3621		-906
3622		-00:40:40,260 ~-~-> 00:40:41,460
3623		-understand that there is a
3624		-
3625		-907
3626		-00:40:41,520 ~-~-> 00:40:44,490
3627		-classification for trading in sync and
3628		-
3629		-908
3630		-00:40:44,520 ~-~-> 00:40:47,250
3631		-out of sync. Okay. And what what do I
3632		-
3633		-909
3634		-00:40:47,250 ~-~-> 00:40:50,160
3635		-mean by that? Well, the two higher time
3636		-
3637		-910
3638		-00:40:50,160 ~-~-> 00:40:52,500
3639		-frames which is the daily and four hour,
3640		-
3641		-911
3642		-00:40:52,770 ~-~-> 00:40:55,680
3643		-if you're trading in those timeframe
3644		-
3645		-912
3646		-00:40:55,680 ~-~-> 00:40:57,660
3647		-directional premise, then you are
3648		-
3649		-913
3650		-00:40:57,660 ~-~-> 00:40:59,850
3651		-classified as trading in sync regardless
3652		-
3653		-914
3654		-00:40:59,850 ~-~-> 00:41:02,250
3655		-of What timeframe you're trading. Now,
3656		-
3657		-915
3658		-00:41:02,490 ~-~-> 00:41:05,940
3659		-you can trade counter trend or counter
3660		-
3661		-916
3662		-00:41:05,940 ~-~-> 00:41:07,740
3663		-sync if you were out of sync rather,
3664		-
3665		-917
3666		-00:41:09,059 ~-~-> 00:41:10,769
3667		-as a day trader and a scalper,
3668		-
3669		-918
3670		-00:41:11,249 ~-~-> 00:41:13,079
3671		-okay, we can actually short term trade,
3672		-
3673		-919
3674		-00:41:13,439 ~-~-> 00:41:15,959
3675		-you know, counter, the higher time
3676		-
3677		-920
3678		-00:41:15,959 ~-~-> 00:41:17,219
3679		-frame, okay, but you got to be very,
3680		-
3681		-921
3682		-00:41:17,219 ~-~-> 00:41:19,169
3683		-very nimble doing that. So I'm not going
3684		-
3685		-922
3686		-00:41:19,169 ~-~-> 00:41:20,789
3687		-to advocate doing that in this video
3688		-
3689		-923
3690		-00:41:20,789 ~-~-> 00:41:22,619
3691		-series, but you see me a lot of times in
3692		-
3693		-924
3694		-00:41:22,619 ~-~-> 00:41:25,349
3695		-my market reviews or my trade recaps
3696		-
3697		-925
3698		-00:41:25,379 ~-~-> 00:41:29,069
3699		-that I do on YouTube. It may go against
3700		-
3701		-926
3702		-00:41:29,069 ~-~-> 00:41:30,329
3703		-what the higher time frames are saying,
3704		-
3705		-927
3706		-00:41:30,419 ~-~-> 00:41:31,679
3707		-but I'm still netting
3708		-
3709		-928
3710		-00:41:31,950 ~-~-> 00:41:32,640
3711		-pips.
3712		-
3713		-929
3714		-00:41:33,510 ~-~-> 00:41:36,720
3715		-That comes with experience, okay. I do
3716		-
3717		-930
3718		-00:41:36,720 ~-~-> 00:41:38,220
3719		-it just to show you that you can make
3720		-
3721		-931
3722		-00:41:38,220 ~-~-> 00:41:40,710
3723		-money without a directional premise or
3724		-
3725		-932
3726		-00:41:40,710 ~-~-> 00:41:44,520
3727		-bias, but it's better for your trades if
3728		-
3729		-933
3730		-00:41:44,520 ~-~-> 00:41:46,320
3731		-you're trading in sync with that daily
3732		-
3733		-934
3734		-00:41:46,320 ~-~-> 00:41:48,570
3735		-and or for our timeframes.
3736		-
3737		-935
3738		-00:41:48,720 ~-~-> 00:41:50,040
3739		-Okay? So,
3740		-
3741		-936
3742		-00:41:50,220 ~-~-> 00:41:53,100
3743		-if you're day trading in sync, that
3744		-
3745		-937
3746		-00:41:53,100 ~-~-> 00:41:54,480
3747		-means you're gonna be if the higher
3748		-
3749		-938
3750		-00:41:54,480 ~-~-> 00:41:56,550
3751		-timeframe daily or for our bullish than
3752		-
3753		-939
3754		-00:41:56,550 ~-~-> 00:41:58,500
3755		-your day trades. If you're a buyer, then
3756		-
3757		-940
3758		-00:41:58,500 ~-~-> 00:42:00,450
3759		-you're trading in sync. Okay. Remember
3760		-
3761		-941
3762		-00:42:00,450 ~-~-> 00:42:02,700
3763		-that if you're selling
3764		-
3765		-942
3766		-00:42:03,480 ~-~-> 00:42:06,870
3767		-in a day trade or scalping short, while
3768		-
3769		-943
3770		-00:42:06,870 ~-~-> 00:42:09,180
3771		-the daily and or four hour are bullish,
3772		-
3773		-944
3774		-00:42:09,420 ~-~-> 00:42:11,610
3775		-okay, you are out of sync, okay, or your
3776		-
3777		-945
3778		-00:42:11,610 ~-~-> 00:42:15,660
3779		-counter trend trading. That's very, very
3780		-
3781		-946
3782		-00:42:15,660 ~-~-> 00:42:19,020
3783		-important rule to understand in terms of
3784		-
3785		-947
3786		-00:42:19,020 ~-~-> 00:42:20,880
3787		-your analysis. Because if you can't
3788		-
3789		-948
3790		-00:42:21,690 ~-~-> 00:42:22,890
3791		-generically
3792		-
3793		-949
3794		-00:42:23,220 ~-~-> 00:42:26,070
3795		-define your market environments like
3796		-
3797		-950
3798		-00:42:26,070 ~-~-> 00:42:27,480
3799		-that, or you're trading within the
3800		-
3801		-951
3802		-00:42:27,480 ~-~-> 00:42:28,290
3803		-current environment,
3804		-
3805		-952
3806		-00:42:29,550 ~-~-> 00:42:31,320
3807		-in my opinion, you're trading in the
3808		-
3809		-953
3810		-00:42:31,320 ~-~-> 00:42:31,800
3811		-dark,
3812		-
3813		-954
3814		-00:42:32,039 ~-~-> 00:42:35,249
3815		-okay? You will not be rule based, you'll
3816		-
3817		-955
3818		-00:42:35,249 ~-~-> 00:42:35,669
3819		-be
3820		-
3821		-956
3822		-00:42:36,060 ~-~-> 00:42:37,980
3823		-seeing moves like this in here.
3824		-
3825		-957
3826		-00:42:38,010 ~-~-> 00:42:39,030
3827		-It's really dropping off fairly
3828		-
3829		-958
3830		-00:42:39,030 ~-~-> 00:42:40,140
3831		-handsomely. And you're gonna think, Wow,
3832		-
3833		-959
3834		-00:42:40,140 ~-~-> 00:42:41,130
3835		-it's gonna probably come down here
3836		-
3837		-960
3838		-00:42:41,130 ~-~-> 00:42:43,620
3839		-deeper. Well, it may not, as you see
3840		-
3841		-961
3842		-00:42:43,620 ~-~-> 00:42:44,970
3843		-here, it doesn't and then starts to
3844		-
3845		-962
3846		-00:42:45,000 ~-~-> 00:42:46,290
3847		-rally, you know the other way and it's
3848		-
3849		-963
3850		-00:42:46,290 ~-~-> 00:42:48,540
3851		-very demoralizing if you haven't taken
3852		-
3853		-964
3854		-00:42:48,540 ~-~-> 00:42:51,210
3855		-some profits off as the market moves
3856		-
3857		-965
3858		-00:42:51,210 ~-~-> 00:42:52,590
3859		-lower. And if you didn't even adjust
3860		-
3861		-966
3862		-00:42:52,590 ~-~-> 00:42:54,420
3863		-your stop, the guys want to sell up here
3864		-
3865		-967
3866		-00:42:54,420 ~-~-> 00:42:55,470
3867		-and I'm going to keep my stop here and
3868		-
3869		-968
3870		-00:42:55,470 ~-~-> 00:42:57,840
3871		-take all or nothing. Well got nothing
3872		-
3873		-969
3874		-00:42:57,840 ~-~-> 00:42:59,250
3875		-again for the time and effort you put
3876		-
3877		-970
3878		-00:42:59,250 ~-~-> 00:43:02,400
3879		-into the market. It's important that you
3880		-
3881		-971
3882		-00:43:02,400 ~-~-> 00:43:05,850
3883		-have something out, take something off
3884		-
3885		-972
3886		-00:43:05,850 ~-~-> 00:43:07,830
3887		-the trade, okay? It doesn't make a
3888		-
3889		-973
3890		-00:43:07,830 ~-~-> 00:43:10,710
3891		-difference. If it was 20 bucks, you got
3892		-
3893		-974
3894		-00:43:10,710 ~-~-> 00:43:12,750
3895		-20 bucks, it's 20 more dollars than you
3896		-
3897		-975
3898		-00:43:12,750 ~-~-> 00:43:14,580
3899		-had before you put the trade on, okay?
3900		-
3901		-976
3902		-00:43:15,900 ~-~-> 00:43:17,310
3903		-I used to be,
3904		-
3905		-977
3906		-00:43:17,789 ~-~-> 00:43:19,769
3907		-I'm going to get my exit, or I'm going
3908		-
3909		-978
3910		-00:43:19,769 ~-~-> 00:43:20,819
3911		-to get stopped out and that's just the
3912		-
3913		-979
3914		-00:43:20,819 ~-~-> 00:43:25,349
3915		-way it is. And man, I got chewed up it
3916		-
3917		-980
3918		-00:43:25,349 ~-~-> 00:43:27,179
3919		-you just can't do that as a developing
3920		-
3921		-981
3922		-00:43:27,179 ~-~-> 00:43:28,799
3923		-trader because number one, your mind's
3924		-
3925		-982
3926		-00:43:28,799 ~-~-> 00:43:31,499
3927		-not going to let you do it. Okay, you're
3928		-
3929		-983
3930		-00:43:31,499 ~-~-> 00:43:32,759
3931		-going to start saying, Well, you know,
3932		-
3933		-984
3934		-00:43:32,759 ~-~-> 00:43:34,259
3935		-took this many losses, I'm gonna be
3936		-
3937		-985
3938		-00:43:34,289 ~-~-> 00:43:35,969
3939		-overtrading I'm gonna take more trades
3940		-
3941		-986
3942		-00:43:35,969 ~-~-> 00:43:38,399
3943		-now. I'm going to widen my stop because
3944		-
3945		-987
3946		-00:43:38,399 ~-~-> 00:43:41,069
3947		-I know I'm right. Or I'm going to be
3948		-
3949		-988
3950		-00:43:41,069 ~-~-> 00:43:43,139
3951		-buying more and over leveraging, okay,
3952		-
3953		-989
3954		-00:43:43,139 ~-~-> 00:43:44,249
3955		-and I'm gonna get out sooner than I
3956		-
3957		-990
3958		-00:43:44,249 ~-~-> 00:43:45,869
3959		-should, because I just need to get that
3960		-
3961		-991
3962		-00:43:45,869 ~-~-> 00:43:48,599
3963		-money back and just causes all kinds of
3964		-
3965		-992
3966		-00:43:48,599 ~-~-> 00:43:51,089
3967		-havoc emotionally and psychologically.
3968		-
3969		-993
3970		-00:43:51,389 ~-~-> 00:43:53,099
3971		-And then you forget about what you're
3972		-
3973		-994
3974		-00:43:53,099 ~-~-> 00:43:54,599
3975		-supposed to be doing, because you're
3976		-
3977		-995
3978		-00:43:54,599 ~-~-> 00:43:58,109
3979		-focusing too much on the pain. Okay? So
3980		-
3981		-996
3982		-00:43:58,379 ~-~-> 00:44:00,659
3983		-by having these rules in place, helps
3984		-
3985		-997
3986		-00:44:00,659 ~-~-> 00:44:02,459
3987		-you define what it is specifically you
3988		-
3989		-998
3990		-00:44:02,459 ~-~-> 00:44:04,289
3991		-should be doing. And that alone
3992		-
3993		-999
3994		-00:44:04,410 ~-~-> 00:44:05,940
3995		-is what your focus should be. Because
3996		-
3997		-1000
3998		-00:44:05,940 ~-~-> 00:44:07,080
3999		-think about if your
4000		-
4001		-1001
4002		-00:44:07,320 ~-~-> 00:44:09,480
4003		-perspective is limited to just just
4004		-
4005		-1002
4006		-00:44:09,480 ~-~-> 00:44:11,310
4007		-those things, do you have time to be
4008		-
4009		-1003
4010		-00:44:11,310 ~-~-> 00:44:12,810
4011		-worrying about where it's going to go to
4012		-
4013		-1004
4014		-00:44:12,810 ~-~-> 00:44:14,970
4015		-if you already have a stoploss defined,
4016		-
4017		-1005
4018		-00:44:15,630 ~-~-> 00:44:17,520
4019		-either going to watch your six and
4020		-
4021		-1006
4022		-00:44:17,520 ~-~-> 00:44:19,500
4023		-collapse 50% of the trade, or you're
4024		-
4025		-1007
4026		-00:44:19,500 ~-~-> 00:44:21,210
4027		-going to go go down into your stop,
4028		-
4029		-1008
4030		-00:44:21,660 ~-~-> 00:44:23,820
4031		-period. That's it. What's the worry
4032		-
4033		-1009
4034		-00:44:23,820 ~-~-> 00:44:26,190
4035		-about? If you're worrying is because you
4036		-
4037		-1010
4038		-00:44:26,190 ~-~-> 00:44:27,900
4039		-probably put too much on the trade, or
4040		-
4041		-1011
4042		-00:44:27,900 ~-~-> 00:44:30,540
4043		-you probably been trading too much. It's
4044		-
4045		-1012
4046		-00:44:30,570 ~-~-> 00:44:33,510
4047		-just that simple guys, but we want to
4048		-
4049		-1013
4050		-00:44:33,720 ~-~-> 00:44:36,270
4051		-over analyze it and blame something else
4052		-
4053		-1014
4054		-00:44:36,300 ~-~-> 00:44:38,730
4055		-outside of us. Okay, I get a million
4056		-
4057		-1015
4058		-00:44:38,730 ~-~-> 00:44:42,450
4059		-emails asking what it is that makes me
4060		-
4061		-1016
4062		-00:44:42,450 ~-~-> 00:44:43,710
4063		-do the wrong things. Well, and
4064		-
4065		-1017
4066		-00:44:43,710 ~-~-> 00:44:46,290
4067		-apparently that's human nature. We've
4068		-
4069		-1018
4070		-00:44:46,290 ~-~-> 00:44:48,600
4071		-said this earlier. If you see a sign on
4072		-
4073		-1019
4074		-00:44:48,600 ~-~-> 00:44:50,310
4075		-the lawn says don't walk on the grass.
4076		-
4077		-1020
4078		-00:44:50,340 ~-~-> 00:44:51,870
4079		-What do you invariably want to do? As a
4080		-
4081		-1021
4082		-00:44:51,870 ~-~-> 00:44:53,310
4083		-kid if you have children, my kids want
4084		-
4085		-1022
4086		-00:44:53,310 ~-~-> 00:44:54,960
4087		-to go all the time. Don't touch wet
4088		-
4089		-1023
4090		-00:44:54,960 ~-~-> 00:44:56,220
4091		-paint, man. They got paint all over
4092		-
4093		-1024
4094		-00:44:56,220 ~-~-> 00:44:56,610
4095		-hands
4096		-
4097		-1025
4098		-00:44:57,180 ~-~-> 00:44:58,980
4099		-off guys because it's got paint all over
4100		-
4101		-1026
4102		-00:44:58,980 ~-~-> 00:44:59,070
4103		-it.
4104		-
4105		-1027
4106		-00:44:59,460 ~-~-> 00:45:02,250
4107		-Okay, there. New Nikes boom, it's got
4108		-
4109		-1028
4110		-00:45:02,250 ~-~-> 00:45:03,930
4111		-that new stain that was on the picnic
4112		-
4113		-1029
4114		-00:45:03,930 ~-~-> 00:45:05,250
4115		-table that we were going to the park and
4116		-
4117		-1030
4118		-00:45:05,250 ~-~-> 00:45:06,630
4119		-says don't touch this. It's got wet
4120		-
4121		-1031
4122		-00:45:06,630 ~-~-> 00:45:08,880
4123		-paint, got little rope around it. Okay,
4124		-
4125		-1032
4126		-00:45:08,880 ~-~-> 00:45:09,960
4127		-well, they're going to go through the
4128		-
4129		-1033
4130		-00:45:09,960 ~-~-> 00:45:12,000
4131		-rope, cross the red tape, if you will,
4132		-
4133		-1034
4134		-00:45:12,000 ~-~-> 00:45:15,060
4135		-to the hazard warning, and they're going
4136		-
4137		-1035
4138		-00:45:15,060 ~-~-> 00:45:16,350
4139		-to do the very thing that you're not
4140		-
4141		-1036
4142		-00:45:16,350 ~-~-> 00:45:18,630
4143		-supposed to do. Okay, that's human
4144		-
4145		-1037
4146		-00:45:18,630 ~-~-> 00:45:21,510
4147		-nature. So that gets back to are you
4148		-
4149		-1038
4150		-00:45:21,510 ~-~-> 00:45:23,490
4151		-going to be a rule based individual
4152		-
4153		-1039
4154		-00:45:23,520 ~-~-> 00:45:25,050
4155		-because if you can't follow rules,
4156		-
4157		-1040
4158		-00:45:25,050 ~-~-> 00:45:26,880
4159		-you're not going to do well with this
4160		-
4161		-1041
4162		-00:45:26,880 ~-~-> 00:45:29,670
4163		-business. You have to be you have to be
4164		-
4165		-1042
4166		-00:45:29,670 ~-~-> 00:45:33,450
4167		-disciplined and have it defined very,
4168		-
4169		-1043
4170		-00:45:33,570 ~-~-> 00:45:36,930
4171		-very clearly what it is specifically
4172		-
4173		-1044
4174		-00:45:36,930 ~-~-> 00:45:39,030
4175		-that you should be doing if your trade
4176		-
4177		-1045
4178		-00:45:39,090 ~-~-> 00:45:42,780
4179		-plan is very detailed. One can argue I
4180		-
4181		-1046
4182		-00:45:42,780 ~-~-> 00:45:45,120
4183		-have too many moving parts in my in my
4184		-
4185		-1047
4186		-00:45:45,180 ~-~-> 00:45:47,310
4187		-plan, okay. I don't have a whole whole
4188		-
4189		-1048
4190		-00:45:47,310 ~-~-> 00:45:48,990
4191		-lot of moving parts in my trading plan.
4192		-
4193		-1049
4194		-00:45:49,050 ~-~-> 00:45:50,370
4195		-I have a whole lot of moving parts and
4196		-
4197		-1050
4198		-00:45:50,370 ~-~-> 00:45:51,930
4199		-my understanding how the markets
4200		-
4201		-1051
4202		-00:45:51,930 ~-~-> 00:45:54,030
4203		-themselves work. That's why I'm so
4204		-
4205		-1052
4206		-00:45:54,030 ~-~-> 00:45:57,180
4207		-effective. That's why my analysis before
4208		-
4209		-1053
4210		-00:45:57,180 ~-~-> 00:45:58,770
4211		-it happens, is so accurate
4212		-
4213		-1054
4214		-00:45:59,280 ~-~-> 00:46:01,710
4215		-every day That's the, that's the premise
4216		-
4217		-1055
4218		-00:46:01,950 ~-~-> 00:46:03,630
4219		-to why I'm doing these things. So I'm
4220		-
4221		-1056
4222		-00:46:03,630 ~-~-> 00:46:03,840
4223		-going to
4224		-
4225		-1057
4226		-00:46:04,200 ~-~-> 00:46:05,430
4227		-communicate that to you.
4228		-
4229		-1058
4230		-00:46:06,330 ~-~-> 00:46:08,250
4231		-You can do these things, but
4232		-
4233		-1059
4234		-00:46:08,250 ~-~-> 00:46:10,140
4235		-it's going to take time for you to
4236		-
4237		-1060
4238		-00:46:10,230 ~-~-> 00:46:12,030
4239		-overcome the you.
4240		-
4241		-1061
4242		-00:46:12,570 ~-~-> 00:46:13,800
4243		-Okay? So
4244		-
4245		-1062
4246		-00:46:16,109 ~-~-> 00:46:17,549
4247		-by having a classification of your
4248		-
4249		-1063
4250		-00:46:17,549 ~-~-> 00:46:19,379
4251		-trades and understand what your trading
4252		-
4253		-1064
4254		-00:46:19,379 ~-~-> 00:46:21,329
4255		-and why you're trading, it will help you
4256		-
4257		-1065
4258		-00:46:21,329 ~-~-> 00:46:22,859
4259		-define where you're going to take
4260		-
4261		-1066
4262		-00:46:22,859 ~-~-> 00:46:25,679
4263		-profits at. Okay? So avoid that I'm
4264		-
4265		-1067
4266		-00:46:25,679 ~-~-> 00:46:28,439
4267		-getting all of my maximum profit. Don't
4268		-
4269		-1068
4270		-00:46:28,439 ~-~-> 00:46:30,269
4271		-do that. Okay? Because first of all,
4272		-
4273		-1069
4274		-00:46:30,269 ~-~-> 00:46:31,619
4275		-you're not gonna be right more
4276		-
4277		-1070
4278		-00:46:31,650 ~-~-> 00:46:34,140
4279		-times in you think you are, and
4280		-
4281		-1071
4282		-00:46:35,520 ~-~-> 00:46:37,410
4283		-you just want to pay yourself something.
4284		-
4285		-1072
4286		-00:46:37,590 ~-~-> 00:46:39,480
4287		-Okay? And having that mindset that I'm
4288		-
4289		-1073
4290		-00:46:39,480 ~-~-> 00:46:41,580
4291		-going to have a maximum profit always
4292		-
4293		-1074
4294		-00:46:41,610 ~-~-> 00:46:42,420
4295		-because think about when you first
4296		-
4297		-1075
4298		-00:46:42,420 ~-~-> 00:46:44,310
4299		-started, you got in there, you looked at
4300		-
4301		-1076
4302		-00:46:44,310 ~-~-> 00:46:44,820
4303		-the charts.
4304		-
4305		-1077
4306		-00:46:44,970 ~-~-> 00:46:46,170
4307		-What are you calculating me? I'm gonna
4308		-
4309		-1078
4310		-00:46:46,170 ~-~-> 00:46:47,370
4311		-make 20 pips a day I could do
4312		-
4313		-1079
4314		-00:46:47,370 ~-~-> 00:46:48,420
4315		-this, this, this this and all of a
4316		-
4317		-1080
4318		-00:46:48,420 ~-~-> 00:46:49,530
4319		-sudden, in nine months, you're
4320		-
4321		-1081
4322		-00:46:49,530 ~-~-> 00:46:51,810
4323		-millionaire. One five an hour training
4324		-
4325		-1082
4326		-00:46:51,810 ~-~-> 00:46:54,270
4327		-camp. It doesn't work like that, guys.
4328		-
4329		-1083
4330		-00:46:54,390 ~-~-> 00:46:56,940
4331		-It does not work like that. You have to
4332		-
4333		-1084
4334		-00:46:57,390 ~-~-> 00:46:59,850
4335		-overcome a whole lot of internal things.
4336		-
4337		-1085
4338		-00:47:00,000 ~-~-> 00:47:01,980
4339		-Before these charts ever do anything for
4340		-
4341		-1086
4342		-00:47:01,980 ~-~-> 00:47:04,680
4343		-you, so the way you grind that out is
4344		-
4345		-1087
4346		-00:47:04,740 ~-~-> 00:47:07,080
4347		-begin with a rule based system. Okay?
4348		-
4349		-1088
4350		-00:47:07,110 ~-~-> 00:47:09,090
4351		-And the more rules
4352		-
4353		-1089
4354		-00:47:09,120 ~-~-> 00:47:10,110
4355		-you have that are
4356		-
4357		-1090
4358		-00:47:10,110 ~-~-> 00:47:12,900
4359		-clearly defined, the less room there is
4360		-
4361		-1091
4362		-00:47:12,900 ~-~-> 00:47:15,840
4363		-for emotional, fear based and greed
4364		-
4365		-1092
4366		-00:47:15,840 ~-~-> 00:47:18,930
4367		-based trading. It's just that simple.
4368		-
4369		-1093
4370		-00:47:19,260 ~-~-> 00:47:22,440
4371		-Okay, so now let's move on and take a
4372		-
4373		-1094
4374		-00:47:22,440 ~-~-> 00:47:26,970
4375		-look at the ICT split gain ratios.
4376		-
4377		-1095
4378		-00:47:30,780 ~-~-> 00:47:31,560
4379		-Okay, guys,
4380		-
4381		-1096
4382		-00:47:31,890 ~-~-> 00:47:32,910
4383		-we're gonna be looking at the
4384		-
4385		-1097
4386		-00:47:32,940 ~-~-> 00:47:35,460
4387		-intermediate term ratios. Now, what is a
4388		-
4389		-1098
4390		-00:47:35,460 ~-~-> 00:47:39,840
4391		-split gain ratio? Well, it's, it's
4392		-
4393		-1099
4394		-00:47:39,840 ~-~-> 00:47:41,040
4395		-something I've just really just
4396		-
4397		-1100
4398		-00:47:41,040 ~-~-> 00:47:44,010
4399		-classified just for teaching purposes,
4400		-
4401		-1101
4402		-00:47:44,160 ~-~-> 00:47:47,400
4403		-because I don't have any real specific I
4404		-
4405		-1102
4406		-00:47:47,400 ~-~-> 00:47:49,530
4407		-do this every single time. I don't, I
4408		-
4409		-1103
4410		-00:47:49,530 ~-~-> 00:47:51,780
4411		-don't have that. Okay, so, I'm giving
4412		-
4413		-1104
4414		-00:47:51,780 ~-~-> 00:47:54,030
4415		-you these ideas to stimulate your
4416		-
4417		-1105
4418		-00:47:54,030 ~-~-> 00:47:56,310
4419		-decision making in your own trading.
4420		-
4421		-1106
4422		-00:47:56,340 ~-~-> 00:47:58,350
4423		-Okay? So don't think for a minute that
4424		-
4425		-1107
4426		-00:47:58,350 ~-~-> 00:48:00,600
4427		-this is always going to unfold. Exactly
4428		-
4429		-1108
4430		-00:48:00,600 ~-~-> 00:48:02,820
4431		-like this, there just obviously means
4432		-
4433		-1109
4434		-00:48:02,820 ~-~-> 00:48:05,580
4435		-for you to stimulate your decision
4436		-
4437		-1110
4438		-00:48:05,580 ~-~-> 00:48:07,920
4439		-making. And you can come up with your
4440		-
4441		-1111
4442		-00:48:07,920 ~-~-> 00:48:09,960
4443		-own way of using these as examples,
4444		-
4445		-1112
4446		-00:48:10,110 ~-~-> 00:48:12,150
4447		-okay, to arrive at what you're most
4448		-
4449		-1113
4450		-00:48:12,150 ~-~-> 00:48:14,370
4451		-comfortable doing. Okay? And the only
4452		-
4453		-1114
4454		-00:48:14,370 ~-~-> 00:48:15,540
4455		-way you're going to learn which one
4456		-
4457		-1115
4458		-00:48:15,540 ~-~-> 00:48:16,770
4459		-you're comfortable doing is by just
4460		-
4461		-1116
4462		-00:48:16,770 ~-~-> 00:48:18,840
4463		-simply jumping in the pool and joining
4464		-
4465		-1117
4466		-00:48:18,840 ~-~-> 00:48:24,330
4467		-it, okay. So an intermediate term ratio,
4468		-
4469		-1118
4470		-00:48:24,540 ~-~-> 00:48:27,930
4471		-okay? would be, how am I going to take
4472		-
4473		-1119
4474		-00:48:27,960 ~-~-> 00:48:32,040
4475		-my profits? Okay, assuming that you have
4476		-
4477		-1120
4478		-00:48:32,580 ~-~-> 00:48:37,560
4479		-$100,000 leverage in a trade and
4480		-
4481		-1121
4482		-00:48:37,560 ~-~-> 00:48:39,120
4483		-leverage you have what we consider a
4484		-
4485		-1122
4486		-00:48:39,120 ~-~-> 00:48:42,930
4487		-standard lot in the Euro, that would be
4488		-
4489		-1123
4490		-00:48:42,990 ~-~-> 00:48:44,940
4491		-$100,000.
4492		-
4493		-1124
4494		-00:48:45,600 ~-~-> 00:48:46,140
4495		-But
4496		-
4497		-1125
4498		-00:48:46,470 ~-~-> 00:48:49,530
4499		-each PIP is going to be worth $10 per
4500		-
4501		-1126
4502		-00:48:49,590 ~-~-> 00:48:52,140
4503		-movement up or down, gain or loss out of
4504		-
4505		-1127
4506		-00:48:52,140 ~-~-> 00:48:52,260
4507		-your
4508		-
4509		-1128
4510		-00:48:52,260 ~-~-> 00:48:52,680
4511		-account.
4512		-
4513		-1129
4514		-00:48:54,180 ~-~-> 00:48:56,130
4515		-In this example, okay for me eternal
4516		-
4517		-1130
4518		-00:48:56,130 ~-~-> 00:49:00,210
4519		-ratios if you are in sync trading The
4520		-
4521		-1131
4522		-00:49:00,210 ~-~-> 00:49:02,430
4523		-higher timeframe daily and or for our
4524		-
4525		-1132
4526		-00:49:02,430 ~-~-> 00:49:04,620
4527		-directional premise, okay? You could
4528		-
4529		-1133
4530		-00:49:04,620 ~-~-> 00:49:08,010
4531		-take your profits in stages of
4532		-
4533		-1134
4534		-00:49:09,420 ~-~-> 00:49:13,020
4535		-20 2020 2020. Okay, in other words out
4536		-
4537		-1135
4538		-00:49:13,020 ~-~-> 00:49:16,800
4539		-of 100% of that total position, okay,
4540		-
4541		-1136
4542		-00:49:17,310 ~-~-> 00:49:22,290
4543		-you could take 2000 have leverage off at
4544		-
4545		-1137
4546		-00:49:22,290 ~-~-> 00:49:24,390
4547		-your first target at your second target
4548		-
4549		-1138
4550		-00:49:24,390 ~-~-> 00:49:26,340
4551		-to get over 2000 of leverage off taken
4552		-
4553		-1139
4554		-00:49:26,340 ~-~-> 00:49:28,860
4555		-out 2000 off the third target, fourth,
4556		-
4557		-1140
4558		-00:49:29,220 ~-~-> 00:49:29,910
4559		-and final
4560		-
4561		-1141
4562		-00:49:29,940 ~-~-> 00:49:32,460
4563		-fifth. Okay, that's the
4564		-
4565		-1142
4566		-00:49:34,320 ~-~-> 00:49:35,910
4567		-like an ideal scenario, if you want to
4568		-
4569		-1143
4570		-00:49:35,910 ~-~-> 00:49:39,120
4571		-scale off in five position, exit points,
4572		-
4573		-1144
4574		-00:49:39,720 ~-~-> 00:49:40,950
4575		-fives a whole lot.
4576		-
4577		-1145
4578		-00:49:41,939 ~-~-> 00:49:43,649
4579		-But again, we're talking about in return
4580		-
4581		-1146
4582		-00:49:43,649 ~-~-> 00:49:46,439
4583		-trading. So you could take that first 20
4584		-
4585		-1147
4586		-00:49:47,189 ~-~-> 00:49:47,729
4587		-off
4588		-
4589		-1148
4590		-00:49:48,840 ~-~-> 00:49:50,400
4591		-at the average daily range for that
4592		-
4593		-1149
4594		-00:49:50,400 ~-~-> 00:49:51,750
4595		-particular day you took the trade on,
4596		-
4597		-1150
4598		-00:49:52,050 ~-~-> 00:49:54,480
4599		-okay, and then the next 20 could come
4600		-
4601		-1151
4602		-00:49:54,480 ~-~-> 00:49:58,470
4603		-off at a previous daily high or a intra
4604		-
4605		-1152
4606		-00:49:58,470 ~-~-> 00:50:00,240
4607		-week high and then the next Next one
4608		-
4609		-1153
4610		-00:50:00,240 ~-~-> 00:50:02,460
4611		-could be a monthly high. Or we could
4612		-
4613		-1154
4614		-00:50:02,460 ~-~-> 00:50:06,450
4615		-start looking at Fibonacci 127 and 162
4616		-
4617		-1155
4618		-00:50:06,540 ~-~-> 00:50:09,450
4619		-extensions. Okay, any one of those
4620		-
4621		-1156
4622		-00:50:09,450 ~-~-> 00:50:11,790
4623		-things could be applied here. Okay, but
4624		-
4625		-1157
4626		-00:50:11,790 ~-~-> 00:50:14,460
4627		-it's a matter of how much am I taking
4628		-
4629		-1158
4630		-00:50:14,460 ~-~-> 00:50:17,490
4631		-off. If you're going to take out for
4632		-
4633		-1159
4634		-00:50:17,910 ~-~-> 00:50:22,110
4635		-scaling, you could do 2525 25 and 25.
4636		-
4637		-1160
4638		-00:50:22,740 ~-~-> 00:50:24,690
4639		-But where you're taking those profits
4640		-
4641		-1161
4642		-00:50:24,690 ~-~-> 00:50:30,810
4643		-at, okay, you're taking 20 $500 of the
4644		-
4645		-1162
4646		-00:50:30,810 ~-~-> 00:50:31,590
4647		-hundred thousand that you
4648		-
4649		-1163
4650		-00:50:31,590 ~-~-> 00:50:32,220
4651		-put the trade on
4652		-
4653		-1164
4654		-00:50:32,220 ~-~-> 00:50:36,570
4655		-at, at logical levels of profit taking
4656		-
4657		-1165
4658		-00:50:37,500 ~-~-> 00:50:39,420
4659		-old highs, old lows.
4660		-
4661		-1166
4662		-00:50:40,530 ~-~-> 00:50:43,470
4663		-Fibonacci extensions, okay. Previous
4664		-
4665		-1167
4666		-00:50:43,470 ~-~-> 00:50:45,990
4667		-range retracements. In other words, like
4668		-
4669		-1168
4670		-00:50:46,350 ~-~-> 00:50:51,660
4671		-a move say this this high here down to
4672		-
4673		-1169
4674		-00:50:51,660 ~-~-> 00:50:54,330
4675		-this low as price moves up into what
4676		-
4677		-1170
4678		-00:50:54,330 ~-~-> 00:50:54,870
4679		-would be considered
4680		-
4681		-1171
4682		-00:50:54,870 ~-~-> 00:50:56,970
4683		-the 79% retracement level here. If you
4684		-
4685		-1172
4686		-00:50:56,970 ~-~-> 00:50:58,740
4687		-were long back in here, you'd be looking
4688		-
4689		-1173
4690		-00:50:58,740 ~-~-> 00:51:00,960
4691		-to take some profits in here. Okay, and
4692		-
4693		-1174
4694		-00:51:00,960 ~-~-> 00:51:02,280
4695		-then obviously if it gets to this level
4696		-
4697		-1175
4698		-00:51:02,280 ~-~-> 00:51:05,070
4699		-here, we could take profits there as
4700		-
4701		-1176
4702		-00:51:05,070 ~-~-> 00:51:07,830
4703		-well. And then price starts to retrace.
4704		-
4705		-1177
4706		-00:51:08,250 ~-~-> 00:51:10,650
4707		-Okay, assuming that we were able to, you
4708		-
4709		-1178
4710		-00:51:10,650 ~-~-> 00:51:14,220
4711		-know, be a part of the next leg up. If
4712		-
4713		-1179
4714		-00:51:14,220 ~-~-> 00:51:17,280
4715		-you were buying in here, okay? This Ohio
4716		-
4717		-1180
4718		-00:51:17,280 ~-~-> 00:51:18,900
4719		-would be an example, this old high end
4720		-
4721		-1181
4722		-00:51:18,900 ~-~-> 00:51:20,310
4723		-would be an example. And then the
4724		-
4725		-1182
4726		-00:51:20,310 ~-~-> 00:51:22,710
4727		-extensions beyond that.
4728		-
4729		-1183
4730		-00:51:23,579 ~-~-> 00:51:26,399
4731		-Okay, like this. If we have our fib
4732		-
4733		-1184
4734		-00:51:30,180 ~-~-> 00:51:33,630
4735		-pull it down to that low or 127. We have
4736		-
4737		-1185
4738		-00:51:33,660 ~-~-> 00:51:36,000
4739		-an ideal level to take profits at once.
4740		-
4741		-1186
4742		-00:51:36,000 ~-~-> 00:51:38,010
4743		-It would be a nice level and ultimately,
4744		-
4745		-1187
4746		-00:51:38,010 ~-~-> 00:51:39,420
4747		-our higher level
4748		-
4749		-1188
4750		-00:51:40,800 ~-~-> 00:51:42,600
4751		-profit objectives as a 200 extension.
4752		-
4753		-1189
4754		-00:51:42,900 ~-~-> 00:51:43,470
4755		-We're here,
4756		-
4757		-1190
4758		-00:51:43,890 ~-~-> 00:51:48,030
4759		-okay. So it's using all the concepts
4760		-
4761		-1191
4762		-00:51:48,030 ~-~-> 00:51:51,180
4763		-together in a framework where it allows
4764		-
4765		-1192
4766		-00:51:51,180 ~-~-> 00:51:56,040
4767		-you to just really plan your exits and
4768		-
4769		-1193
4770		-00:51:56,070 ~-~-> 00:51:59,700
4771		-look for reasons to do it. Not simply
4772		-
4773		-1194
4774		-00:51:59,700 ~-~-> 00:52:02,190
4775		-because I made this much money, where
4776		-
4777		-1195
4778		-00:52:02,190 ~-~-> 00:52:04,800
4779		-are we reaching for it in terms of price
4780		-
4781		-1196
4782		-00:52:04,800 ~-~-> 00:52:06,780
4783		-action, okay, and applying all of our
4784		-
4785		-1197
4786		-00:52:06,780 ~-~-> 00:52:09,060
4787		-tools. If you want to scale out in three
4788		-
4789		-1198
4790		-00:52:09,060 ~-~-> 00:52:11,940
4791		-stages, you could do 20% of the position
4792		-
4793		-1199
4794		-00:52:11,940 ~-~-> 00:52:15,060
4795		-and then 40 and 40, holding on to those
4796		-
4797		-1200
4798		-00:52:15,060 ~-~-> 00:52:17,700
4799		-last two portions at 40 and 40. Because
4800		-
4801		-1201
4802		-00:52:17,700 ~-~-> 00:52:19,890
4803		-you want to be hopefully holding a
4804		-
4805		-1202
4806		-00:52:19,890 ~-~-> 00:52:22,200
4807		-larger percentage of the trade, because
4808		-
4809		-1203
4810		-00:52:22,200 ~-~-> 00:52:23,430
4811		-you're trading in a higher timeframe,
4812		-
4813		-1204
4814		-00:52:23,430 ~-~-> 00:52:25,200
4815		-directional premise, okay, or will be
4816		-
4817		-1205
4818		-00:52:25,200 ~-~-> 00:52:26,400
4819		-considered in sync,
4820		-
4821		-1206
4822		-00:52:26,580 ~-~-> 00:52:26,940
4823		-okay?
4824		-
4825		-1207
4826		-00:52:28,410 ~-~-> 00:52:30,330
4827		-If you're trading out of sync, and
4828		-
4829		-1208
4830		-00:52:30,330 ~-~-> 00:52:32,820
4831		-you're against the daily and or for our
4832		-
4833		-1209
4834		-00:52:33,660 ~-~-> 00:52:36,690
4835		-human scale in five stages, you can take
4836		-
4837		-1210
4838		-00:52:36,690 ~-~-> 00:52:40,620
4839		-40% off initially at a price objective,
4840		-
4841		-1211
4842		-00:52:40,920 ~-~-> 00:52:42,660
4843		-and then 1010 1010
4844		-
4845		-1212
4846		-00:52:43,020 ~-~-> 00:52:45,480
4847		-Okay, leaving small portions on,
4848		-
4849		-1213
4850		-00:52:45,960 ~-~-> 00:52:48,780
4851		-okay, and even if just for sake of luck,
4852		-
4853		-1214
4854		-00:52:49,170 ~-~-> 00:52:50,310
4855		-even though you're against the hard
4856		-
4857		-1215
4858		-00:52:50,310 ~-~-> 00:52:53,310
4859		-timeframes, you could still manage to
4860		-
4861		-1216
4862		-00:52:53,310 ~-~-> 00:52:56,070
4863		-get some pretty good gains, like we have
4864		-
4865		-1217
4866		-00:52:56,070 ~-~-> 00:52:59,340
4867		-here. And like we have here, okay, so it
4868		-
4869		-1218
4870		-00:52:59,340 ~-~-> 00:53:01,200
4871		-was against the heart. timeframes. But
4872		-
4873		-1219
4874		-00:53:01,200 ~-~-> 00:53:02,850
4875		-you still able to, you know, hold a
4876		-
4877		-1220
4878		-00:53:02,850 ~-~-> 00:53:05,700
4879		-little bit of peace of the position and
4880		-
4881		-1221
4882		-00:53:05,730 ~-~-> 00:53:08,010
4883		-maybe get some more of a, you know
4884		-
4885		-1222
4886		-00:53:08,010 ~-~-> 00:53:10,920
4887		-volatility in your trade. If you want to
4888		-
4889		-1223
4890		-00:53:10,920 ~-~-> 00:53:12,480
4891		-scale in at four stages, you could do
4892		-
4893		-1224
4894		-00:53:12,570 ~-~-> 00:53:15,630
4895		-50% of the position. And 30, say you got
4896		-
4897		-1225
4898		-00:53:15,630 ~-~-> 00:53:17,190
4899		-80% of the trade off, then you can hold
4900		-
4901		-1226
4902		-00:53:17,190 ~-~-> 00:53:20,640
4903		-on for the final 20% scale is often 10
4904		-
4905		-1227
4906		-00:53:20,640 ~-~-> 00:53:24,270
4907		-and 10, then you have three scale stage.
4908		-
4909		-1228
4910		-00:53:24,930 ~-~-> 00:53:26,910
4911		-If you want to take 60% off, that would
4912		-
4913		-1229
4914		-00:53:26,910 ~-~-> 00:53:28,560
4915		-be 40%, you could scale off in two more
4916		-
4917		-1230
4918		-00:53:28,560 ~-~-> 00:53:31,770
4919		-stages at 20%. Again, using logical
4920		-
4921		-1231
4922		-00:53:31,770 ~-~-> 00:53:36,690
4923		-levels of price levels and Fibonacci,
4924		-
4925		-1232
4926		-00:53:37,020 ~-~-> 00:53:37,860
4927		-simply
4928		-
4929		-1233
4930		-00:53:38,490 ~-~-> 00:53:41,400
4931		-applying that that overlapping of
4932		-
4933		-1234
4934		-00:53:41,400 ~-~-> 00:53:44,100
4935		-reasons or confluences for for price to
4936		-
4937		-1235
4938		-00:53:44,100 ~-~-> 00:53:44,580
4939		-be moving to
4940		-
4941		-1236
4942		-00:53:44,580 ~-~-> 00:53:46,650
4943		-those levels. That's where you'd be
4944		-
4945		-1237
4946		-00:53:46,650 ~-~-> 00:53:47,160
4947		-doing
4948		-
4949		-1238
4950		-00:53:47,190 ~-~-> 00:53:50,100
4951		-these. These split gain ratios. In other
4952		-
4953		-1239
4954		-00:53:50,100 ~-~-> 00:53:51,360
4955		-words, where I'm going to be taking my
4956		-
4957		-1240
4958		-00:53:51,360 ~-~-> 00:53:53,430
4959		-position, and how much of the position
4960		-
4961		-1241
4962		-00:53:53,580 ~-~-> 00:53:55,380
4963		-that I initially put on, I'd be taking
4964		-
4965		-1242
4966		-00:53:55,380 ~-~-> 00:53:55,740
4967		-off
4968		-
4969		-1243
4970		-00:53:57,090 ~-~-> 00:53:58,470
4971		-now this gets back to
4972		-
4973		-1244
4974		-00:54:00,570 ~-~-> 00:54:03,270
4975		-Your trade entry. Okay? You can do this
4976		-
4977		-1245
4978		-00:54:03,270 ~-~-> 00:54:04,920
4979		-several different ways. Okay, you can do
4980		-
4981		-1246
4982		-00:54:04,920 ~-~-> 00:54:07,140
4983		-it, you can set up to set up and do it
4984		-
4985		-1247
4986		-00:54:07,140 ~-~-> 00:54:10,410
4987		-as individual orders, okay now whereas
4988		-
4989		-1248
4990		-00:54:10,410 ~-~-> 00:54:12,930
4991		-if you're trading 100,000, you can for
4992		-
4993		-1249
4994		-00:54:12,930 ~-~-> 00:54:15,480
4995		-the assuming that you're trading in
4996		-
4997		-1250
4998		-00:54:15,480 ~-~-> 00:54:17,370
4999		-sync, and you want to scale out at
5000		-
5001		-1251
5002		-00:54:18,390 ~-~-> 00:54:22,230
5003		-three, three levels, you could have your
5004		-
5005		-1252
5006		-00:54:22,290 ~-~-> 00:54:26,010
5007		-entry, limit order three separate entry
5008		-
5009		-1253
5010		-00:54:26,370 ~-~-> 00:54:29,040
5011		-limit orders to get the same price than
5012		-
5013		-1254
5014		-00:54:29,040 ~-~-> 00:54:31,770
5015		-your first of the three, you could look
5016		-
5017		-1255
5018		-00:54:31,770 ~-~-> 00:54:36,000
5019		-to take profit off at a first objective,
5020		-
5021		-1256
5022		-00:54:36,330 ~-~-> 00:54:39,420
5023		-okay? But the positions would be set up
5024		-
5025		-1257
5026		-00:54:39,420 ~-~-> 00:54:41,190
5027		-in such a way that you would have 2000
5028		-
5029		-1258
5030		-00:54:41,490 ~-~-> 00:54:44,220
5031		-leverage 4000 leverage and in 4000
5032		-
5033		-1259
5034		-00:54:44,220 ~-~-> 00:54:45,870
5035		-leverage, okay, so you can take the
5036		-
5037		-1260
5038		-00:54:45,870 ~-~-> 00:54:47,520
5039		-first 2000 off at your first price
5040		-
5041		-1261
5042		-00:54:47,520 ~-~-> 00:54:49,500
5043		-objective, remaining two positions would
5044		-
5045		-1262
5046		-00:54:49,500 ~-~-> 00:54:49,740
5047		-be
5048		-
5049		-1263
5050		-00:54:49,919 ~-~-> 00:54:51,299
5051		-open. And then
5052		-
5053		-1264
5054		-00:54:51,689 ~-~-> 00:54:53,609
5055		-the second one would come off at another
5056		-
5057		-1265
5058		-00:54:53,609 ~-~-> 00:54:57,029
5059		-logical level of price objective. And
5060		-
5061		-1266
5062		-00:54:57,029 ~-~-> 00:54:58,949
5063		-then once it's triggered the remaining
5064		-
5065		-1267
5066		-00:54:59,099 ~-~-> 00:55:02,969
5067		-order of $4,000 would be sitting in the
5068		-
5069		-1268
5070		-00:55:02,969 ~-~-> 00:55:04,739
5071		-marketplace and either it gets to its
5072		-
5073		-1269
5074		-00:55:04,740 ~-~-> 00:55:06,270
5075		-position or stopped out or whatever.
5076		-
5077		-1270
5078		-00:55:07,560 ~-~-> 00:55:09,540
5079		-Or you could just do the trade as
5080		-
5081		-1271
5082		-00:55:09,630 ~-~-> 00:55:13,620
5083		-$100,000 and then go in and set your
5084		-
5085		-1272
5086		-00:55:14,310 ~-~-> 00:55:16,710
5087		-limit order to take partials off. Okay,
5088		-
5089		-1273
5090		-00:55:16,710 ~-~-> 00:55:18,300
5091		-and some platforms will allow you to do
5092		-
5093		-1274
5094		-00:55:18,300 ~-~-> 00:55:20,520
5095		-that. I don't know what every platform
5096		-
5097		-1275
5098		-00:55:20,730 ~-~-> 00:55:22,410
5099		-each of you are using, you just got to
5100		-
5101		-1276
5102		-00:55:22,410 ~-~-> 00:55:24,180
5103		-look and see what is available to you.
5104		-
5105		-1277
5106		-00:55:24,450 ~-~-> 00:55:26,970
5107		-Okay. Let's move on to the next one.
5108		-
5109		-1278
5110		-00:55:29,130 ~-~-> 00:55:33,630
5111		-Okay, short term ratios. Again, assuming
5112		-
5113		-1279
5114		-00:55:33,630 ~-~-> 00:55:35,010
5115		-that we're trading in sync with the
5116		-
5117		-1280
5118		-00:55:35,760 ~-~-> 00:55:36,570
5119		-daily,
5120		-
5121		-1281
5122		-00:55:38,190 ~-~-> 00:55:38,910
5123		-the
5124		-
5125		-1282
5126		-00:55:40,740 ~-~-> 00:55:44,040
5127		-insync ratios would be taking 30% off if
5128		-
5129		-1283
5130		-00:55:44,040 ~-~-> 00:55:47,190
5131		-you're scaling out at three. You in this
5132		-
5133		-1284
5134		-00:55:47,190 ~-~-> 00:55:48,540
5135		-case, it looks a little different
5136		-
5137		-1285
5138		-00:55:48,540 ~-~-> 00:55:49,740
5139		-because I'm taking the smaller one
5140		-
5141		-1286
5142		-00:55:49,740 ~-~-> 00:55:50,190
5143		-first.
5144		-
5145		-1287
5146		-00:55:51,570 ~-~-> 00:55:53,280
5147		-Because I want to have the maximum
5148		-
5149		-1288
5150		-00:55:53,280 ~-~-> 00:55:53,610
5151		-amount
5152		-
5153		-1289
5154		-00:55:53,700 ~-~-> 00:55:56,310
5155		-of leverage still in the marketplace in
5156		-
5157		-1290
5158		-00:55:56,310 ~-~-> 00:55:58,770
5159		-my position. So I'm gonna take 30% off
5160		-
5161		-1291
5162		-00:55:59,310 ~-~-> 00:56:01,500
5163		-and then we'll take 30 5% off the second
5164		-
5165		-1292
5166		-00:56:01,980 ~-~-> 00:56:04,140
5167		-profit objective and then remaining 35%
5168		-
5169		-1293
5170		-00:56:04,140 ~-~-> 00:56:06,690
5171		-would be taken at the third and ultimate
5172		-
5173		-1294
5174		-00:56:06,750 ~-~-> 00:56:08,040
5175		-price objective that I would have for
5176		-
5177		-1295
5178		-00:56:08,040 ~-~-> 00:56:12,120
5179		-that short term trade 25%. If I want to
5180		-
5181		-1296
5182		-00:56:12,120 ~-~-> 00:56:14,520
5183		-scale out in two stages 25% at the first
5184		-
5185		-1297
5186		-00:56:14,520 ~-~-> 00:56:16,740
5187		-one, and then 75% at the second price
5188		-
5189		-1298
5190		-00:56:16,740 ~-~-> 00:56:19,920
5191		-objective, and give you an illustration
5192		-
5193		-1299
5194		-00:56:19,920 ~-~-> 00:56:22,440
5195		-of what that might look like, is if I'm
5196		-
5197		-1300
5198		-00:56:22,440 ~-~-> 00:56:26,400
5199		-trading with a four hour chart, okay,
5200		-
5201		-1301
5202		-00:56:26,400 ~-~-> 00:56:27,990
5203		-and all I did was this gear down, I
5204		-
5205		-1302
5206		-00:56:27,990 ~-~-> 00:56:29,100
5207		-didn't do anything, I didn't pick
5208		-
5209		-1303
5210		-00:56:29,100 ~-~-> 00:56:30,750
5211		-anything, just it just gave me this
5212		-
5213		-1304
5214		-00:56:30,750 ~-~-> 00:56:32,940
5215		-chart here. assume for a moment that
5216		-
5217		-1305
5218		-00:56:34,140 ~-~-> 00:56:35,190
5219		-I went short here
5220		-
5221		-1306
5222		-00:56:36,000 ~-~-> 00:56:37,320
5223		-on this optimal trade entry
5224		-
5225		-1307
5226		-00:56:38,640 ~-~-> 00:56:41,040
5227		-right here in back into this order block
5228		-
5229		-1308
5230		-00:56:41,610 ~-~-> 00:56:44,550
5231		-in here. So if I went short in here on
5232		-
5233		-1309
5234		-00:56:44,550 ~-~-> 00:56:47,820
5235		-that 131 80 level, the first price
5236		-
5237		-1310
5238		-00:56:47,820 ~-~-> 00:56:49,290
5239		-objective would be down here this old
5240		-
5241		-1311
5242		-00:56:49,290 ~-~-> 00:56:52,290
5243		-low which is the reaction low from this
5244		-
5245		-1312
5246		-00:56:52,290 ~-~-> 00:56:54,540
5247		-point here down here. That will be my
5248		-
5249		-1313
5250		-00:56:54,540 ~-~-> 00:56:57,180
5251		-first price objective. Again, scaling
5252		-
5253		-1314
5254		-00:56:57,180 ~-~-> 00:57:00,420
5255		-out while short term trade That point
5256		-
5257		-1315
5258		-00:57:00,420 ~-~-> 00:57:03,930
5259		-here, it'd be 146 position. I'm sorry
5260		-
5261		-1316
5262		-00:57:04,230 ~-~-> 00:57:07,950
5263		-146 pips for the first scaling out.
5264		-
5265		-1317
5266		-00:57:08,100 ~-~-> 00:57:09,750
5267		-Okay, so if I'm scaling out in two
5268		-
5269		-1318
5270		-00:57:09,750 ~-~-> 00:57:12,840
5271		-stages 25% would come off the trade
5272		-
5273		-1319
5274		-00:57:12,870 ~-~-> 00:57:17,520
5275		-right there at 147 pips, the next point
5276		-
5277		-1320
5278		-00:57:19,020 ~-~-> 00:57:24,120
5279		-of the ratio would be 75%. I would take
5280		-
5281		-1321
5282		-00:57:24,120 ~-~-> 00:57:26,670
5283		-that out at either the 127 extension
5284		-
5285		-1322
5286		-00:57:28,440 ~-~-> 00:57:28,980
5287		-or
5288		-
5289		-1323
5290		-00:57:30,270 ~-~-> 00:57:31,620
5291		-the 162. Extension
5292		-
5293		-1324
5294		-00:57:32,880 ~-~-> 00:57:34,110
5295		-conservatively, but it's gonna say the
5296		-
5297		-1325
5298		-00:57:34,110 ~-~-> 00:57:35,550
5299		-127 we're not going to say we got
5300		-
5301		-1326
5302		-00:57:35,550 ~-~-> 00:57:38,070
5303		-everything down here. If you got through
5304		-
5305		-1327
5306		-00:57:38,070 ~-~-> 00:57:41,040
5307		-127 the remaining portion that would be
5308		-
5309		-1328
5310		-00:57:41,040 ~-~-> 00:57:42,750
5311		-in the trade would profit
5312		-
5313		-1329
5314		-00:57:44,460 ~-~-> 00:57:45,870
5315		-hypothetically, obviously,
5316		-
5317		-1330
5318		-00:57:49,290 ~-~-> 00:57:52,560
5319		-to that price point here of 191 pips,
5320		-
5321		-1331
5322		-00:57:52,920 ~-~-> 00:57:55,260
5323		-okay. And just for sake of completeness,
5324		-
5325		-1332
5326		-00:57:55,260 ~-~-> 00:57:57,270
5327		-if you use the 162 extension as your
5328		-
5329		-1333
5330		-00:57:57,510 ~-~-> 00:58:00,840
5331		-final position, you'd make 248 And if
5332		-
5333		-1334
5334		-00:58:00,840 ~-~-> 00:58:02,280
5335		-you held for the 200 extension, you'd
5336		-
5337		-1335
5338		-00:58:02,280 ~-~-> 00:58:05,100
5339		-make 310 pips. Okay? And you would just
5340		-
5341		-1336
5342		-00:58:05,100 ~-~-> 00:58:06,450
5343		-do the math on what you wouldn't make
5344		-
5345		-1337
5346		-00:58:06,450 ~-~-> 00:58:06,720
5347		-her
5348		-
5349		-1338
5350		-00:58:10,740 ~-~-> 00:58:14,850
5351		-risk on that trade. Now,
5352		-
5353		-1339
5354		-00:58:16,800 ~-~-> 00:58:20,610
5355		-if you're trading out of sync, okay, for
5356		-
5357		-1340
5358		-00:58:20,610 ~-~-> 00:58:22,380
5359		-short term trading, you want to take
5360		-
5361		-1341
5362		-00:58:22,680 ~-~-> 00:58:25,140
5363		-larger portions off sooner, so you take
5364		-
5365		-1342
5366		-00:58:25,140 ~-~-> 00:58:26,910
5367		-60% of the trade off, and then two
5368		-
5369		-1343
5370		-00:58:26,910 ~-~-> 00:58:30,330
5371		-remaining positions at 20 and 20. Okay.
5372		-
5373		-1344
5374		-00:58:30,810 ~-~-> 00:58:32,130
5375		-And again, all you're doing is is
5376		-
5377		-1345
5378		-00:58:32,130 ~-~-> 00:58:34,410
5379		-looking for levels to take your profits
5380		-
5381		-1346
5382		-00:58:34,440 ~-~-> 00:58:38,430
5383		-out at that ratio in terms of your open
5384		-
5385		-1347
5386		-00:58:38,430 ~-~-> 00:58:40,980
5387		-position. Initially, you're scaling off
5388		-
5389		-1348
5390		-00:58:40,980 ~-~-> 00:58:42,630
5391		-a percentage. In other words, in this
5392		-
5393		-1349
5394		-00:58:42,630 ~-~-> 00:58:45,360
5395		-case, out of sync, you would take 60%
5396		-
5397		-1350
5398		-00:58:45,360 ~-~-> 00:58:47,610
5399		-off initially at your first target, and
5400		-
5401		-1351
5402		-00:58:47,610 ~-~-> 00:58:49,650
5403		-then 20% off at your second target and
5404		-
5405		-1352
5406		-00:58:49,650 ~-~-> 00:58:51,750
5407		-then 20% remaining would come off at
5408		-
5409		-1353
5410		-00:58:51,750 ~-~-> 00:58:53,430
5411		-your third and ultimate price level.
5412		-
5413		-1354
5414		-00:58:53,490 ~-~-> 00:58:56,790
5415		-Okay. And in a good example, that would
5416		-
5417		-1355
5418		-00:58:56,790 ~-~-> 00:58:59,970
5419		-be 60% off at an old higher low today.
5420		-
5421		-1356
5422		-00:59:00,000 ~-~-> 00:59:02,790
5423		-To Use Your fib from, and then 127 would
5424		-
5425		-1357
5426		-00:59:02,790 ~-~-> 00:59:05,190
5427		-be coming off at 20% and then 162
5428		-
5429		-1358
5430		-00:59:05,190 ~-~-> 00:59:06,930
5431		-extension and what 200% would come off
5432		-
5433		-1359
5434		-00:59:07,320 ~-~-> 00:59:08,070
5435		-on that final
5436		-
5437		-1360
5438		-00:59:09,090 ~-~-> 00:59:10,590
5439		-20% of the initial position.
5440		-
5441		-1361
5442		-00:59:11,189 ~-~-> 00:59:12,959
5443		-And if you want to do two stages on
5444		-
5445		-1362
5446		-00:59:12,959 ~-~-> 00:59:13,439
5447		-scaling,
5448		-
5449		-1363
5450		-00:59:13,560 ~-~-> 00:59:15,840
5451		-you're out of sync with on the higher
5452		-
5453		-1364
5454		-00:59:15,840 ~-~-> 00:59:18,480
5455		-time frames, you would take 80% off
5456		-
5457		-1365
5458		-00:59:18,510 ~-~-> 00:59:20,670
5459		-initially and then let your 20%
5460		-
5461		-1366
5462		-00:59:21,090 ~-~-> 00:59:23,430
5463		-remaining on the position. Go to your
5464		-
5465		-1367
5466		-00:59:23,430 ~-~-> 00:59:26,490
5467		-second and final objective. And
5468		-
5469		-1368
5470		-00:59:26,490 ~-~-> 00:59:28,740
5471		-obviously, you can do double tap, which
5472		-
5473		-1369
5474		-00:59:28,740 ~-~-> 00:59:30,690
5475		-is 5015 onwards, you take your first
5476		-
5477		-1370
5478		-00:59:30,690 ~-~-> 00:59:32,820
5479		-objective is half the position comes
5480		-
5481		-1371
5482		-00:59:32,820 ~-~-> 00:59:34,680
5483		-off, move to break even, and then you
5484		-
5485		-1372
5486		-00:59:34,680 ~-~-> 00:59:36,630
5487		-hold for your second objective and you
5488		-
5489		-1373
5490		-00:59:36,630 ~-~-> 00:59:37,830
5491		-don't care what happens at that point.
5492		-
5493		-1374
5494		-00:59:39,120 ~-~-> 00:59:41,370
5495		-Okay, and moving on to
5496		-
5497		-1375
5498		-00:59:41,400 ~-~-> 00:59:45,630
5499		-our day trading ratios. Okay, looking at
5500		-
5501		-1376
5502		-00:59:45,630 ~-~-> 00:59:47,190
5503		-this, if you're trading in sync, you
5504		-
5505		-1377
5506		-00:59:47,190 ~-~-> 00:59:49,440
5507		-take 30% off of your position on the
5508		-
5509		-1378
5510		-00:59:49,440 ~-~-> 00:59:51,660
5511		-first target, and on the second target,
5512		-
5513		-1379
5514		-00:59:51,990 ~-~-> 00:59:54,120
5515		-it takes 60% off and then you would
5516		-
5517		-1380
5518		-00:59:54,120 ~-~-> 00:59:57,450
5519		-leave 10% to see what happens. Okay?
5520		-
5521		-1381
5522		-00:59:57,960 ~-~-> 00:59:59,820
5523		-Because again, you just because you're
5524		-
5525		-1382
5526		-00:59:59,820 ~-~-> 01:00:01,620
5527		-sure You're day trading doesn't mean you
5528		-
5529		-1383
5530		-01:00:01,620 ~-~-> 01:00:04,770
5531		-can't try to capitalize on a move that
5532		-
5533		-1384
5534		-01:00:04,770 ~-~-> 01:00:06,930
5535		-will most likely continue on for several
5536		-
5537		-1385
5538		-01:00:06,930 ~-~-> 01:00:10,350
5539		-days. Again, day trading, don't think I
5540		-
5541		-1386
5542		-01:00:10,350 ~-~-> 01:00:12,210
5543		-got to get out all of my position today.
5544		-
5545		-1387
5546		-01:00:12,810 ~-~-> 01:00:16,050
5547		-Take a good chunk of the market out and
5548		-
5549		-1388
5550		-01:00:16,050 ~-~-> 01:00:18,150
5551		-move to a new risk and lock in profits.
5552		-
5553		-1389
5554		-01:00:18,330 ~-~-> 01:00:19,500
5555		-But leave a little piece on here because
5556		-
5557		-1390
5558		-01:00:19,500 ~-~-> 01:00:21,480
5559		-you may catch a lot more of the daily
5560		-
5561		-1391
5562		-01:00:21,840 ~-~-> 01:00:25,290
5563		-range increase going into Friday, or it
5564		-
5565		-1392
5566		-01:00:25,290 ~-~-> 01:00:26,790
5567		-may even continue going for, you know,
5568		-
5569		-1393
5570		-01:00:26,790 ~-~-> 01:00:32,070
5571		-weeks. If he if it works its way where
5572		-
5573		-1394
5574		-01:00:32,070 ~-~-> 01:00:34,290
5575		-it sets, your your stop is never tagged,
5576		-
5577		-1395
5578		-01:00:34,290 ~-~-> 01:00:35,400
5579		-you'd still be in the market as it
5580		-
5581		-1396
5582		-01:00:35,400 ~-~-> 01:00:36,480
5583		-continues to move in your favor.
5584		-
5585		-1397
5586		-01:00:37,830 ~-~-> 01:00:39,480
5587		-Obviously, if you wanna move out in
5588		-
5589		-1398
5590		-01:00:41,430 ~-~-> 01:00:43,470
5591		-in three stages, and you have all three
5592		-
5593		-1399
5594		-01:00:43,470 ~-~-> 01:00:45,570
5595		-timeframes in sync, okay, you could take
5596		-
5597		-1400
5598		-01:00:45,570 ~-~-> 01:00:48,660
5599		-20% off 20% off at your first two
5600		-
5601		-1401
5602		-01:00:48,660 ~-~-> 01:00:50,940
5603		-targets and then leave 60% remaining for
5604		-
5605		-1402
5606		-01:00:50,940 ~-~-> 01:00:53,040
5607		-your ultimate price objective. That's
5608		-
5609		-1403
5610		-01:00:53,070 ~-~-> 01:00:54,780
5611		-again, only if you're trading with all
5612		-
5613		-1404
5614		-01:00:54,780 ~-~-> 01:00:56,460
5615		-timeframes in sync and every does things
5616		-
5617		-1405
5618		-01:00:56,460 ~-~-> 01:00:59,010
5619		-is loaded for it to move up. And if you
5620		-
5621		-1406
5622		-01:00:59,010 ~-~-> 01:01:00,270
5623		-don't do it in two stages, you will Just
5624		-
5625		-1407
5626		-01:01:00,270 ~-~-> 01:01:02,070
5627		-take 20% off your first target and leave
5628		-
5629		-1408
5630		-01:01:02,100 ~-~-> 01:01:03,360
5631		-80% for your
5632		-
5633		-1409
5634		-01:01:04,470 ~-~-> 01:01:05,580
5635		-ultimate price objective.
5636		-
5637		-1410
5638		-01:01:07,020 ~-~-> 01:01:09,750
5639		-The other words, in other words, if you
5640		-
5641		-1411
5642		-01:01:09,750 ~-~-> 01:01:12,720
5643		-were using a day trading entry, to get
5644		-
5645		-1412
5646		-01:01:12,720 ~-~-> 01:01:17,670
5647		-in sync with a position or enemy term
5648		-
5649		-1413
5650		-01:01:17,670 ~-~-> 01:01:20,190
5651		-trade based on the daily timeframe. So
5652		-
5653		-1414
5654		-01:01:20,370 ~-~-> 01:01:21,150
5655		-in other words, that's the reason why
5656		-
5657		-1415
5658		-01:01:21,150 ~-~-> 01:01:23,040
5659		-you would be holding 80% just taking 20%
5660		-
5661		-1416
5662		-01:01:23,040 ~-~-> 01:01:26,190
5663		-off and holding 80 for you know, as much
5664		-
5665		-1417
5666		-01:01:26,190 ~-~-> 01:01:28,950
5667		-as weeks. And if you're trading out of
5668		-
5669		-1418
5670		-01:01:28,950 ~-~-> 01:01:30,600
5671		-sync, you would take obviously, in three
5672		-
5673		-1419
5674		-01:01:30,600 ~-~-> 01:01:31,830
5675		-stages, you would take 80% of the
5676		-
5677		-1420
5678		-01:01:31,830 ~-~-> 01:01:33,900
5679		-position off at your first target. Two
5680		-
5681		-1421
5682		-01:01:33,900 ~-~-> 01:01:35,400
5683		-remaining positions you can take off at
5684		-
5685		-1422
5686		-01:01:35,610 ~-~-> 01:01:38,430
5687		-10% and 10%, giving you your full 1%
5688		-
5689		-1423
5690		-01:01:38,430 ~-~-> 01:01:41,280
5691		-off. And in two scaling stages you could
5692		-
5693		-1424
5694		-01:01:41,280 ~-~-> 01:01:43,860
5695		-do against the higher timeframe, you
5696		-
5697		-1425
5698		-01:01:43,860 ~-~-> 01:01:46,380
5699		-would take 75% of the position trade off
5700		-
5701		-1426
5702		-01:01:46,800 ~-~-> 01:01:48,960
5703		-remaining 25% you would take out your
5704		-
5705		-1427
5706		-01:01:49,020 ~-~-> 01:01:52,140
5707		-second price objective. And obviously if
5708		-
5709		-1428
5710		-01:01:52,140 ~-~-> 01:01:54,150
5711		-you want to use still simply just do
5712		-
5713		-1429
5714		-01:01:54,150 ~-~-> 01:01:55,500
5715		-double tap when you're unclear.
5716		-
5717		-1430
5718		-01:01:55,770 ~-~-> 01:01:57,300
5719		-Okay, no words if you just don't know if
5720		-
5721		-1431
5722		-01:01:57,300 ~-~-> 01:01:58,170
5723		-you're in sync or not.
5724		-
5725		-1432
5726		-01:01:58,530 ~-~-> 01:02:01,140
5727		-And you're you ha ha Simply it's easy,
5728		-
5729		-1433
5730		-01:02:01,140 ~-~-> 01:02:03,180
5731		-easy to double tap. Okay, take half the
5732		-
5733		-1434
5734		-01:02:03,180 ~-~-> 01:02:04,860
5735		-position off at your first objective, go
5736		-
5737		-1435
5738		-01:02:04,860 ~-~-> 01:02:06,780
5739		-to breakeven, and then look for your
5740		-
5741		-1436
5742		-01:02:06,780 ~-~-> 01:02:08,550
5743		-second objective 127 wants to do
5744		-
5745		-1437
5746		-01:02:08,550 ~-~-> 01:02:10,800
5747		-extension period. Short and sweet,
5748		-
5749		-1438
5750		-01:02:10,830 ~-~-> 01:02:14,640
5751		-nothing fancy. Okay, moving on to our
5752		-
5753		-1439
5754		-01:02:14,640 ~-~-> 01:02:21,450
5755		-last ratio is scalping ratios. Again,
5756		-
5757		-1440
5758		-01:02:21,450 ~-~-> 01:02:25,230
5759		-this is for 15 to 30 pips range, that
5760		-
5761		-1441
5762		-01:02:25,230 ~-~-> 01:02:29,430
5763		-type of trading, either hold for your
5764		-
5765		-1442
5766		-01:02:29,430 ~-~-> 01:02:32,160
5767		-stock to be hit, or you target, okay,
5768		-
5769		-1443
5770		-01:02:32,340 ~-~-> 01:02:35,730
5771		-and either take a loss or to wrist
5772		-
5773		-1444
5774		-01:02:35,730 ~-~-> 01:02:37,950
5775		-initially on the trade, or you go to
5776		-
5777		-1445
5778		-01:02:37,950 ~-~-> 01:02:39,360
5779		-break even words if you're able to trim
5780		-
5781		-1446
5782		-01:02:39,360 ~-~-> 01:02:42,120
5783		-some of that risk away. That's pretty
5784		-
5785		-1447
5786		-01:02:42,120 ~-~-> 01:02:43,740
5787		-much it. That's what you're trying to do
5788		-
5789		-1448
5790		-01:02:43,740 ~-~-> 01:02:45,900
5791		-in an ideal world. If everything's in
5792		-
5793		-1449
5794		-01:02:45,900 ~-~-> 01:02:48,480
5795		-sync, that's how you trade it. You look
5796		-
5797		-1450
5798		-01:02:48,480 ~-~-> 01:02:49,830
5799		-for your stop loss at
5800		-
5801		-1451
5802		-01:02:49,860 ~-~-> 01:02:50,580
5803		-maximum
5804		-
5805		-1452
5806		-01:02:50,610 ~-~-> 01:02:54,000
5807		-loss or target, or if it allows you to
5808		-
5809		-1453
5810		-01:02:54,000 ~-~-> 01:02:55,590
5811		-trim some of your risk away, you move
5812		-
5813		-1454
5814		-01:02:55,590 ~-~-> 01:02:56,010
5815		-your stop
5816		-
5817		-1455
5818		-01:02:56,010 ~-~-> 01:02:57,570
5819		-loss closer to breakeven, eventually
5820		-
5821		-1456
5822		-01:02:57,570 ~-~-> 01:02:58,080
5823		-into
5824		-
5825		-1457
5826		-01:02:58,110 ~-~-> 01:03:00,840
5827		-profit. But that's That's, that's
5828		-
5829		-1458
5830		-01:03:00,840 ~-~-> 01:03:02,460
5831		-scalping for you. I'm not gonna try to
5832		-
5833		-1459
5834		-01:03:02,460 ~-~-> 01:03:03,690
5835		-give you too many things for Scott
5836		-
5837		-1460
5838		-01:03:03,690 ~-~-> 01:03:04,950
5839		-because I really don't think traders
5840		-
5841		-1461
5842		-01:03:04,950 ~-~-> 01:03:05,670
5843		-should be doing that.
5844		-
5845		-1462
5846		-01:03:05,700 ~-~-> 01:03:07,050
5847		-But you know, there's a
5848		-
5849		-1463
5850		-01:03:08,340 ~-~-> 01:03:09,690
5851		-group out there that wants to hear about
5852		-
5853		-1464
5854		-01:03:09,690 ~-~-> 01:03:10,320
5855		-it. So there you go.
5856		-
5857		-1465
5858		-01:03:11,519 ~-~-> 01:03:13,799
5859		-Or you can simply just use double tap to
5860		-
5861		-1466
5862		-01:03:13,799 ~-~-> 01:03:16,739
5863		-and you get to 15 to 30 pips, you take,
5864		-
5865		-1467
5866		-01:03:17,369 ~-~-> 01:03:18,209
5867		-you know 50%
5868		-
5869		-1468
5870		-01:03:18,360 ~-~-> 01:03:19,500
5871		-of the position off and then you can
5872		-
5873		-1469
5874		-01:03:19,500 ~-~-> 01:03:19,800
5875		-leave
5876		-
5877		-1470
5878		-01:03:19,979 ~-~-> 01:03:22,439
5879		-position open and catch anything that
5880		-
5881		-1471
5882		-01:03:22,439 ~-~-> 01:03:23,489
5883		-would be in sync with the hard
5884		-
5885		-1472
5886		-01:03:23,489 ~-~-> 01:03:27,749
5887		-timeframes. If your counter trend or out
5888		-
5889		-1473
5890		-01:03:27,749 ~-~-> 01:03:30,149
5891		-of sync from the four hour and daily,
5892		-
5893		-1474
5894		-01:03:31,019 ~-~-> 01:03:32,279
5895		-always watch your six,
5896		-
5897		-1475
5898		-01:03:32,669 ~-~-> 01:03:34,559
5899		-you would look to take 50% of the trade
5900		-
5901		-1476
5902		-01:03:34,589 ~-~-> 01:03:36,719
5903		-off if the trade is questionable and
5904		-
5905		-1477
5906		-01:03:36,719 ~-~-> 01:03:39,389
5907		-just manage it like you would if you're
5908		-
5909		-1478
5910		-01:03:39,389 ~-~-> 01:03:40,229
5911		-trading in sync.
5912		-
5913		-1479
5914		-01:03:40,469 ~-~-> 01:03:41,129
5915		-Okay, so
5916		-
5917		-1480
5918		-01:03:42,390 ~-~-> 01:03:45,660
5919		-it's really a generic way of looking at
5920		-
5921		-1481
5922		-01:03:45,660 ~-~-> 01:03:48,960
5923		-how I scale out profits and how I manage
5924		-
5925		-1482
5926		-01:03:48,960 ~-~-> 01:03:53,220
5927		-the position. I generally have what
5928		-
5929		-1483
5930		-01:03:53,220 ~-~-> 01:03:55,830
5931		-ratio in mind before I even put the
5932		-
5933		-1484
5934		-01:03:55,830 ~-~-> 01:03:59,100
5935		-trade on, okay. The only time they will
5936		-
5937		-1485
5938		-01:03:59,100 ~-~-> 01:04:01,230
5939		-deviate is when I'm in a in a metering
5940		-
5941		-1486
5942		-01:04:01,230 ~-~-> 01:04:03,930
5943		-trade, I may elect to take more or less
5944		-
5945		-1487
5946		-01:04:03,930 ~-~-> 01:04:06,780
5947		-of the position off at the second,
5948		-
5949		-1488
5950		-01:04:07,110 ~-~-> 01:04:10,140
5951		-third, fourth and fifth stages, it may
5952		-
5953		-1489
5954		-01:04:10,140 ~-~-> 01:04:11,820
5955		-become a third stage,
5956		-
5957		-1490
5958		-01:04:12,060 ~-~-> 01:04:12,840
5959		-a three stage
5960		-
5961		-1491
5962		-01:04:13,950 ~-~-> 01:04:16,500
5963		-trade, where I take all my profits, if
5964		-
5965		-1492
5966		-01:04:16,500 ~-~-> 01:04:19,320
5967		-it moves in my favor versus a five stage
5968		-
5969		-1493
5970		-01:04:19,350 ~-~-> 01:04:21,120
5971		-scaling, and loads if I think it was
5972		-
5973		-1494
5974		-01:04:21,120 ~-~-> 01:04:23,460
5975		-going to move to the 200% extension, and
5976		-
5977		-1495
5978		-01:04:23,460 ~-~-> 01:04:25,620
5979		-I'm in that move favorably, and I've
5980		-
5981		-1496
5982		-01:04:25,620 ~-~-> 01:04:28,320
5983		-taken off my first two scaling stages.
5984		-
5985		-1497
5986		-01:04:29,040 ~-~-> 01:04:31,560
5987		-That third, fourth and fifth actually
5988		-
5989		-1498
5990		-01:04:31,560 ~-~-> 01:04:33,630
5991		-may just drop down to, I'm just going to
5992		-
5993		-1499
5994		-01:04:33,630 ~-~-> 01:04:35,370
5995		-take it all at the fourth, or I'm going
5996		-
5997		-1500
5998		-01:04:35,370 ~-~-> 01:04:37,830
5999		-to drop it down to what would be
6000		-
6001		-1501
6002		-01:04:37,830 ~-~-> 01:04:39,330
6003		-considered the open remaining position
6004		-
6005		-1502
6006		-01:04:39,330 ~-~-> 01:04:41,730
6007		-of the trade, say it's 30% of the trade.
6008		-
6009		-1503
6010		-01:04:42,210 ~-~-> 01:04:45,480
6011		-I may take, you know, 15% off at one
6012		-
6013		-1504
6014		-01:04:45,480 ~-~-> 01:04:48,240
6015		-level and then 15% off the another
6016		-
6017		-1505
6018		-01:04:48,240 ~-~-> 01:04:51,240
6019		-level. So, again, don't think that
6020		-
6021		-1506
6022		-01:04:51,240 ~-~-> 01:04:53,700
6023		-you're locked into these ratios. This is
6024		-
6025		-1507
6026		-01:04:53,700 ~-~-> 01:04:56,460
6027		-a means of you, deciding what you want
6028		-
6029		-1508
6030		-01:04:56,460 ~-~-> 01:04:58,470
6031		-to do at the price levels that we've
6032		-
6033		-1509
6034		-01:04:58,470 ~-~-> 01:05:01,410
6035		-talked about in this course, that mean
6036		-
6037		-1510
6038		-01:05:01,410 ~-~-> 01:05:02,790
6039		-old highs and lows that you use your
6040		-
6041		-1511
6042		-01:05:02,790 ~-~-> 01:05:06,030
6043		-reference points for your fibs, your
6044		-
6045		-1512
6046		-01:05:06,030 ~-~-> 01:05:09,030
6047		-127, extension 162, extension, and then
6048		-
6049		-1513
6050		-01:05:09,030 ~-~-> 01:05:11,070
6051		-your 200 extension. That's it, there's
6052		-
6053		-1514
6054		-01:05:11,070 ~-~-> 01:05:12,750
6055		-nothing more to it, there's nothing
6056		-
6057		-1515
6058		-01:05:13,230 ~-~-> 01:05:14,790
6059		-difficult about it. It's just a matter
6060		-
6061		-1516
6062		-01:05:14,790 ~-~-> 01:05:17,820
6063		-of planning your trade around that
6064		-
6065		-1517
6066		-01:05:18,240 ~-~-> 01:05:20,640
6067		-analysis, and where those levels are,
6068		-
6069		-1518
6070		-01:05:20,970 ~-~-> 01:05:23,760
6071		-how much you're going to do, of profit
6072		-
6073		-1519
6074		-01:05:23,760 ~-~-> 01:05:25,320
6075		-taking when it gets there. And
6076		-
6077		-1520
6078		-01:05:25,410 ~-~-> 01:05:26,880
6079		-preferably, you want to have those in
6080		-
6081		-1521
6082		-01:05:26,880 ~-~-> 01:05:28,290
6083		-form of limit orders, you can always
6084		-
6085		-1522
6086		-01:05:28,290 ~-~-> 01:05:30,450
6087		-manage limit orders. After they're
6088		-
6089		-1523
6090		-01:05:30,450 ~-~-> 01:05:31,980
6091		-already in place, treat them like stop
6092		-
6093		-1524
6094		-01:05:31,980 ~-~-> 01:05:33,870
6095		-loss orders, okay? Because many times
6096		-
6097		-1525
6098		-01:05:34,170 ~-~-> 01:05:35,910
6099		-you'll be surprised how fast some some
6100		-
6101		-1526
6102		-01:05:35,910 ~-~-> 01:05:37,470
6103		-markets will move and we'll get to your
6104		-
6105		-1527
6106		-01:05:37,470 ~-~-> 01:05:39,210
6107		-first price objective if you didn't get
6108		-
6109		-1528
6110		-01:05:39,210 ~-~-> 01:05:40,890
6111		-that and it recedes back to your stop
6112		-
6113		-1529
6114		-01:05:40,890 ~-~-> 01:05:43,350
6115		-loss. Again, very demoralizing. Okay, so
6116		-
6117		-1530
6118		-01:05:44,670 ~-~-> 01:05:46,890
6119		-I counsel you to you know, try to use
6120		-
6121		-1531
6122		-01:05:46,890 ~-~-> 01:05:49,800
6123		-these as as templates if you will, to
6124		-
6125		-1532
6126		-01:05:49,830 ~-~-> 01:05:53,310
6127		-frame your your trading and your your
6128		-
6129		-1533
6130		-01:05:53,310 ~-~-> 01:05:55,830
6131		-level of scaling out profits. That's
6132		-
6133		-1534
6134		-01:05:55,830 ~-~-> 01:05:57,630
6135		-really all there is to it, Aaron's new
6136		-
6137		-1535
6138		-01:05:57,630 ~-~-> 01:06:01,950
6139		-magic behind it. You What you see here
6140		-
6141		-1536
6142		-01:06:01,980 ~-~-> 01:06:05,100
6143		-for you 2018 could very easily be, you
6144		-
6145		-1537
6146		-01:06:05,100 ~-~-> 01:06:12,540
6147		-know, 70 and 30 is no iron set of rules
6148		-
6149		-1538
6150		-01:06:12,540 ~-~-> 01:06:13,830
6151		-where you have to do it this way and
6152		-
6153		-1539
6154		-01:06:13,830 ~-~-> 01:06:16,680
6155		-only Okay, it's unique thing for us as
6156		-
6157		-1540
6158		-01:06:16,680 ~-~-> 01:06:18,810
6159		-traders, we can tailor this stuff to our
6160		-
6161		-1541
6162		-01:06:18,810 ~-~-> 01:06:22,170
6163		-own personality. So, again, this is a
6164		-
6165		-1542
6166		-01:06:22,170 ~-~-> 01:06:24,090
6167		-means of stimulating decision making on
6168		-
6169		-1543
6170		-01:06:24,090 ~-~-> 01:06:25,800
6171		-your part to scale out something and
6172		-
6173		-1544
6174		-01:06:25,800 ~-~-> 01:06:28,260
6175		-really to stimulate and try to, you
6176		-
6177		-1545
6178		-01:06:28,260 ~-~-> 01:06:30,060
6179		-know, inject the idea that you should be
6180		-
6181		-1546
6182		-01:06:30,060 ~-~-> 01:06:33,450
6183		-taking something as profits as the trade
6184		-
6185		-1547
6186		-01:06:33,450 ~-~-> 01:06:34,920
6187		-unfolds, because just simply because you
6188		-
6189		-1548
6190		-01:06:34,920 ~-~-> 01:06:36,570
6191		-think it's going to go up to a specific
6192		-
6193		-1549
6194		-01:06:36,570 ~-~-> 01:06:38,400
6195		-price level, there's no guarantee it's
6196		-
6197		-1550
6198		-01:06:38,400 ~-~-> 01:06:40,950
6199		-doing that and it may not get there
6200		-
6201		-1551
6202		-01:06:40,950 ~-~-> 01:06:42,480
6203		-without coming back down to another
6204		-
6205		-1552
6206		-01:06:42,480 ~-~-> 01:06:44,520
6207		-previous level and it may be a level
6208		-
6209		-1553
6210		-01:06:44,520 ~-~-> 01:06:47,430
6211		-your stops at, okay, so pay yourself,
6212		-
6213		-1554
6214		-01:06:47,550 ~-~-> 01:06:49,650
6215		-get something out of the trade you
6216		-
6217		-1555
6218		-01:06:49,740 ~-~-> 01:06:51,900
6219		-you've invested time and effort and
6220		-
6221		-1556
6222		-01:06:51,900 ~-~-> 01:06:54,720
6223		-probably fear and worry about missing
6224		-
6225		-1557
6226		-01:06:54,720 ~-~-> 01:06:57,390
6227		-the move in the trade setups. So once
6228		-
6229		-1558
6230		-01:06:57,390 ~-~-> 01:06:59,040
6231		-you're in and you get some profits, get
6232		-
6233		-1559
6234		-01:06:59,040 ~-~-> 01:07:01,590
6235		-some of it out. Okay? So
6236		-
6237		-1560
6238		-01:07:03,510 ~-~-> 01:07:05,280
6239		-that's pretty much it for this teaching
6240		-
6241		-1561
6242		-01:07:05,280 ~-~-> 01:07:05,910
6243		-session.
6244		-
6245		-1562
6246		-01:07:06,360 ~-~-> 01:07:09,420
6247		-in this, in this video, I just want to
6248		-
6249		-1563
6250		-01:07:09,420 ~-~-> 01:07:11,670
6251		-give you some ideas about what we're
6252		-
6253		-1564
6254		-01:07:11,670 ~-~-> 01:07:14,250
6255		-going to be doing in the eighth episode,
6256		-
6257		-1565
6258		-01:07:14,790 ~-~-> 01:07:17,940
6259		-and how to get prepared for it. I would
6260		-
6261		-1566
6262		-01:07:17,940 ~-~-> 01:07:19,950
6263		-counsel you, obviously go back through
6264		-
6265		-1567
6266		-01:07:19,950 ~-~-> 01:07:21,360
6267		-all the previous videos,
6268		-
6269		-1568
6270		-01:07:21,780 ~-~-> 01:07:22,320
6271		-okay?
6272		-
6273		-1569
6274		-01:07:22,410 ~-~-> 01:07:25,500
6275		-And that includes this one, go through
6276		-
6277		-1570
6278		-01:07:25,500 ~-~-> 01:07:27,030
6279		-your notes, make sure you have a good
6280		-
6281		-1571
6282		-01:07:27,030 ~-~-> 01:07:29,520
6283		-collection of notes, okay, and read
6284		-
6285		-1572
6286		-01:07:29,520 ~-~-> 01:07:30,900
6287		-those notes you don't have to see, see
6288		-
6289		-1573
6290		-01:07:30,900 ~-~-> 01:07:32,250
6291		-the videos over and again, once you go
6292		-
6293		-1574
6294		-01:07:32,250 ~-~-> 01:07:33,510
6295		-through it one more time, but your
6296		-
6297		-1575
6298		-01:07:33,510 ~-~-> 01:07:35,070
6299		-notes, you should read them at least
6300		-
6301		-1576
6302		-01:07:35,070 ~-~-> 01:07:37,320
6303		-once a day. Whether you're trading or
6304		-
6305		-1577
6306		-01:07:37,320 ~-~-> 01:07:39,600
6307		-not read them once a day. Because by
6308		-
6309		-1578
6310		-01:07:39,600 ~-~-> 01:07:41,700
6311		-doing that, it'll constantly feed your
6312		-
6313		-1579
6314		-01:07:41,700 ~-~-> 01:07:43,890
6315		-mind and you remember these things and
6316		-
6317		-1580
6318		-01:07:43,890 ~-~-> 01:07:45,270
6319		-you see certain things unfolding in your
6320		-
6321		-1581
6322		-01:07:45,270 ~-~-> 01:07:46,740
6323		-charts. Oh yeah, that's that thing he
6324		-
6325		-1582
6326		-01:07:46,740 ~-~-> 01:07:49,320
6327		-was talking about. Or at that event that
6328		-
6329		-1583
6330		-01:07:49,320 ~-~-> 01:07:50,940
6331		-usually takes place and then you'll
6332		-
6333		-1584
6334		-01:07:50,940 ~-~-> 01:07:54,630
6335		-start to learn how to engage the
6336		-
6337		-1585
6338		-01:07:54,630 ~-~-> 01:07:56,610
6339		-marketplace in price action will become
6340		-
6341		-1586
6342		-01:07:56,970 ~-~-> 01:08:00,780
6343		-a thing of expectancy. Okay, you expect
6344		-
6345		-1587
6346		-01:08:00,810 ~-~-> 01:08:03,000
6347		-these things not what's going to happen.
6348		-
6349		-1588
6350		-01:08:03,210 ~-~-> 01:08:05,520
6351		-Okay? When I sit down to I'm not asking
6352		-
6353		-1589
6354		-01:08:05,520 ~-~-> 01:08:07,410
6355		-what's going to happen, I'm expecting
6356		-
6357		-1590
6358		-01:08:07,410 ~-~-> 01:08:08,910
6359		-something to happen. There's a
6360		-
6361		-1591
6362		-01:08:08,910 ~-~-> 01:08:10,770
6363		-difference, okay? If it if it went over
6364		-
6365		-1592
6366		-01:08:10,770 ~-~-> 01:08:13,140
6367		-your head reminded again, listen to
6368		-
6369		-1593
6370		-01:08:13,140 ~-~-> 01:08:15,390
6371		-that. It's very different perspective as
6372		-
6373		-1594
6374		-01:08:15,390 ~-~-> 01:08:17,010
6375		-a professional trader, I anticipate
6376		-
6377		-1595
6378		-01:08:17,010 ~-~-> 01:08:19,170
6379		-something, whereas novice traders are
6380		-
6381		-1596
6382		-01:08:19,170 ~-~-> 01:08:21,210
6383		-expecting something. What's going to
6384		-
6385		-1597
6386		-01:08:21,210 ~-~-> 01:08:23,190
6387		-happen? You know, you're asking
6388		-
6389		-1598
6390		-01:08:23,190 ~-~-> 01:08:24,390
6391		-everybody on the phone, what do you
6392		-
6393		-1599
6394		-01:08:24,390 ~-~-> 01:08:26,520
6395		-think the Euro is going to do? What
6396		-
6397		-1600
6398		-01:08:26,520 ~-~-> 01:08:28,320
6399		-difference is what would I make, okay?
6400		-
6401		-1601
6402		-01:08:28,320 ~-~-> 01:08:29,340
6403		-Because really, you're going to trade on
6404		-
6405		-1602
6406		-01:08:29,340 ~-~-> 01:08:31,980
6407		-what I'm telling you, you shouldn't. So
6408		-
6409		-1603
6410		-01:08:32,940 ~-~-> 01:08:34,200
6411		-have that in your mind as you go through
6412		-
6413		-1604
6414		-01:08:34,200 ~-~-> 01:08:35,820
6415		-your videos again, get some good notes,
6416		-
6417		-1605
6418		-01:08:35,850 ~-~-> 01:08:37,290
6419		-and we're going to be moving into a
6420		-
6421		-1606
6422		-01:08:37,290 ~-~-> 01:08:40,020
6423		-really, really cool final episode and a
6424		-
6425		-1607
6426		-01:08:40,020 ~-~-> 01:08:41,400
6427		-lot of guys that have been on the fence
6428		-
6429		-1608
6430		-01:08:41,400 ~-~-> 01:08:44,010
6431		-about my concepts will, I think will be
6432		-
6433		-1609
6434		-01:08:44,700 ~-~-> 01:08:46,830
6435		-pleasantly surprised on how useful that
6436		-
6437		-1610
6438		-01:08:46,830 ~-~-> 01:08:48,720
6439		-video will be. Until then, guys wish
6440		-
6441		-1611
6442		-01:08:48,720 ~-~-> 01:08:50,070
6443		-good luck and good trading
6444		-
6445		-1612
6446		-01:08:55,980 ~-~-> 01:08:58,740
6447		-opion joyed this installment and coming
6448		-
6449		-1613
6450		-01:08:58,740 ~-~-> 01:09:03,000
6451		-up in the last An eighth. In our series,
6452		-
6453		-1614
6454		-01:09:03,300 ~-~-> 01:09:06,690
6455		-I escape and evasion. Now this is pretty
6456		-
6457		-1615
6458		-01:09:06,690 ~-~-> 01:09:14,460
6459		-much like my be all end all for
6460		-
6461		-1616
6462		-01:09:14,490 ~-~-> 01:09:18,750
6463		-application for my tools. I get a lot of
6464		-
6465		-1617
6466		-01:09:19,230 ~-~-> 01:09:22,200
6467		-flack from the guys that aren't into me
6468		-
6469		-1618
6470		-01:09:22,410 ~-~-> 01:09:25,530
6471		-or into the tools or just want to be,
6472		-
6473		-1619
6474		-01:09:25,680 ~-~-> 01:09:28,080
6475		-you know, adversarial. They'll say that
6476		-
6477		-1620
6478		-01:09:28,080 ~-~-> 01:09:32,070
6479		-I have too many components. And while I
6480		-
6481		-1621
6482		-01:09:32,070 ~-~-> 01:09:35,280
6483		-have a very vast understanding of market
6484		-
6485		-1622
6486		-01:09:35,280 ~-~-> 01:09:38,160
6487		-analysis concepts and techniques, I'm
6488		-
6489		-1623
6490		-01:09:38,160 ~-~-> 01:09:41,790
6491		-not always using every single tool. So
6492		-
6493		-1624
6494		-01:09:42,090 ~-~-> 01:09:43,890
6495		-it's like a carpenter. You know, they
6496		-
6497		-1625
6498		-01:09:43,890 ~-~-> 01:09:45,840
6499		-may have a toolbox full of all kinds of
6500		-
6501		-1626
6502		-01:09:45,840 ~-~-> 01:09:48,990
6503		-tools, but you're not really driving a
6504		-
6505		-1627
6506		-01:09:48,990 ~-~-> 01:09:52,800
6507		-screw in with a ruler. So there's
6508		-
6509		-1628
6510		-01:09:52,800 ~-~-> 01:09:54,870
6511		-certain times that you need a specific
6512		-
6513		-1629
6514		-01:09:54,870 ~-~-> 01:09:59,700
6515		-tool or where a tool is multifunctional.
6516		-
6517		-1630
6518		-01:10:00,120 ~-~-> 01:10:04,920
6519		-Okay, but I did my very, very best to
6520		-
6521		-1631
6522		-01:10:04,920 ~-~-> 01:10:09,270
6523		-try to concise, condense rather, and
6524		-
6525		-1632
6526		-01:10:09,300 ~-~-> 01:10:12,510
6527		-make it more concise as to when I reach
6528		-
6529		-1633
6530		-01:10:12,510 ~-~-> 01:10:15,030
6531		-for a specific tool, or application or
6532		-
6533		-1634
6534		-01:10:15,030 ~-~-> 01:10:18,330
6535		-technique or concept. And when I avoid
6536		-
6537		-1635
6538		-01:10:18,330 ~-~-> 01:10:23,100
6539		-not using it at all, and I set it up in
6540		-
6541		-1636
6542		-01:10:23,100 ~-~-> 01:10:24,090
6543		-such a different way, it's like a
6544		-
6545		-1637
6546		-01:10:24,420 ~-~-> 01:10:27,840
6547		-flowchart. And I think what you'll be
6548		-
6549		-1638
6550		-01:10:28,140 ~-~-> 01:10:32,430
6551		-surprised is that I've applied how I sit
6552		-
6553		-1639
6554		-01:10:32,430 ~-~-> 01:10:35,400
6555		-down and look at the charts from a top
6556		-
6557		-1640
6558		-01:10:35,400 ~-~-> 01:10:37,050
6559		-down analysis down to the smaller
6560		-
6561		-1641
6562		-01:10:37,050 ~-~-> 01:10:40,200
6563		-timeframes. And what goes through my
6564		-
6565		-1642
6566		-01:10:40,200 ~-~-> 01:10:43,230
6567		-mind as I do the analysis, okay, it's
6568		-
6569		-1643
6570		-01:10:43,230 ~-~-> 01:10:47,130
6571		-kinda like an if then format. So, if the
6572		-
6573		-1644
6574		-01:10:47,130 ~-~-> 01:10:49,980
6575		-market is presenting me this specific
6576		-
6577		-1645
6578		-01:10:49,980 ~-~-> 01:10:52,950
6579		-criteria, then I will do this, this or
6580		-
6581		-1646
6582		-01:10:52,950 ~-~-> 01:10:57,420
6583		-that. And if those functions are met
6584		-
6585		-1647
6586		-01:10:57,420 ~-~-> 01:11:02,100
6587		-with you even more In marking
6588		-
6589		-1648
6590		-01:11:02,100 ~-~-> 01:11:04,260
6591		-conditions, then I moved to another
6592		-
6593		-1649
6594		-01:11:04,260 ~-~-> 01:11:07,650
6595		-stage in my analysis. So it allows you
6596		-
6597		-1650
6598		-01:11:07,650 ~-~-> 01:11:10,980
6599		-to remove all the ambiguity, all of the
6600		-
6601		-1651
6602		-01:11:11,460 ~-~-> 01:11:15,660
6603		-fog, if you will. I have a lot of
6604		-
6605		-1652
6606		-01:11:15,720 ~-~-> 01:11:21,840
6607		-military themed either concepts or
6608		-
6609		-1653
6610		-01:11:21,840 ~-~-> 01:11:25,920
6611		-titles or new teaching templates. And
6612		-
6613		-1654
6614		-01:11:25,950 ~-~-> 01:11:27,570
6615		-that's just my personality. I, you know,
6616		-
6617		-1655
6618		-01:11:27,570 ~-~-> 01:11:30,000
6619		-I've never been in the military. But I
6620		-
6621		-1656
6622		-01:11:30,000 ~-~-> 01:11:34,440
6623		-think by having this framework, it'll
6624		-
6625		-1657
6626		-01:11:34,440 ~-~-> 01:11:36,570
6627		-allow you to have like a plan of attack,
6628		-
6629		-1658
6630		-01:11:36,870 ~-~-> 01:11:39,270
6631		-okay? And it will give you a means of,
6632		-
6633		-1659
6634		-01:11:39,450 ~-~-> 01:11:41,940
6635		-you know, systematically attacking the
6636		-
6637		-1660
6638		-01:11:41,940 ~-~-> 01:11:44,670
6639		-market. And then you're doing your own
6640		-
6641		-1661
6642		-01:11:45,810 ~-~-> 01:11:48,060
6643		-research and recon, if you will. And
6644		-
6645		-1662
6646		-01:11:48,060 ~-~-> 01:11:50,520
6647		-then you're moving out into the fields
6648		-
6649		-1663
6650		-01:11:50,520 ~-~-> 01:11:53,730
6651		-and doing that your very own without
6652		-
6653		-1664
6654		-01:11:53,730 ~-~-> 01:11:56,700
6655		-having any kind of input or stimulus on
6656		-
6657		-1665
6658		-01:11:56,700 ~-~-> 01:11:58,680
6659		-my part or anyone else's. Because that's
6660		-
6661		-1666
6662		-01:11:58,680 ~-~-> 01:11:59,670
6663		-really what we're getting at. We're
6664		-
6665		-1667
6666		-01:11:59,670 ~-~-> 01:12:02,280
6667		-trying to be Building a measure of
6668		-
6669		-1668
6670		-01:12:02,610 ~-~-> 01:12:06,720
6671		-consistency, obviously, a means of
6672		-
6673		-1669
6674		-01:12:06,750 ~-~-> 01:12:09,180
6675		-limiting risk as best we can, we can't
6676		-
6677		-1670
6678		-01:12:09,180 ~-~-> 01:12:10,680
6679		-remove it 100%. But we're going to do
6680		-
6681		-1671
6682		-01:12:10,680 ~-~-> 01:12:13,080
6683		-our very best in our trading to try to
6684		-
6685		-1672
6686		-01:12:13,110 ~-~-> 01:12:15,870
6687		-do that very thing. And at the end of
6688		-
6689		-1673
6690		-01:12:15,870 ~-~-> 01:12:18,840
6691		-the day, we should be hopefully moving
6692		-
6693		-1674
6694		-01:12:18,840 ~-~-> 01:12:20,670
6695		-towards profitability. It's never
6696		-
6697		-1675
6698		-01:12:20,670 ~-~-> 01:12:22,890
6699		-guaranteed, I can't guarantee it, no
6700		-
6701		-1676
6702		-01:12:22,890 ~-~-> 01:12:25,050
6703		-other mentor teacher, or author of
6704		-
6705		-1677
6706		-01:12:25,050 ~-~-> 01:12:27,300
6707		-courses can do that. So
6708		-
6709		-1678
6710		-01:12:28,860 ~-~-> 01:12:31,110
6711		-while it is my goal to try to give you a
6712		-
6713		-1679
6714		-01:12:31,110 ~-~-> 01:12:34,710
6715		-roadmap, if you will, on how I break
6716		-
6717		-1680
6718		-01:12:34,710 ~-~-> 01:12:37,200
6719		-down and digest the marketplace, it will
6720		-
6721		-1681
6722		-01:12:37,200 ~-~-> 01:12:39,420
6723		-still and I'm promising you it will
6724		-
6725		-1682
6726		-01:12:39,420 ~-~-> 01:12:42,720
6727		-still incur losses. If you trade with
6728		-
6729		-1683
6730		-01:12:42,720 ~-~-> 01:12:45,000
6731		-real money with these concepts, any of
6732		-
6733		-1684
6734		-01:12:45,000 ~-~-> 01:12:46,470
6735		-these concepts not just simply what's
6736		-
6737		-1685
6738		-01:12:46,470 ~-~-> 01:12:48,990
6739		-released on the eighth and final video,
6740		-
6741		-1686
6742		-01:12:49,230 ~-~-> 01:12:52,020
6743		-but any of these concepts, you are still
6744		-
6745		-1687
6746		-01:12:52,080 ~-~-> 01:12:54,810
6747		-inherently taking on risks that will
6748		-
6749		-1688
6750		-01:12:55,200 ~-~-> 01:12:57,780
6751		-invariably result in you losing money,
6752		-
6753		-1689
6754		-01:12:57,900 ~-~-> 01:12:58,830
6755		-okay? So you have to be very
6756		-
6757		-1690
6758		-01:12:58,830 ~-~-> 01:13:01,680
6759		-responsible. And trade within a demo
6760		-
6761		-1691
6762		-01:13:01,680 ~-~-> 01:13:04,260
6763		-account. Only when you think that you're
6764		-
6765		-1692
6766		-01:13:04,260 ~-~-> 01:13:07,290
6767		-ready to do it with live money, you take
6768		-
6769		-1693
6770		-01:13:07,290 ~-~-> 01:13:09,150
6771		-that decision and you make it your own
6772		-
6773		-1694
6774		-01:13:09,210 ~-~-> 01:13:11,400
6775		-and own the responsibility that comes
6776		-
6777		-1695
6778		-01:13:11,400 ~-~-> 01:13:14,550
6779		-along with it. If you have success with
6780		-
6781		-1696
6782		-01:13:14,550 ~-~-> 01:13:17,730
6783		-these concepts, obviously, I'm more than
6784		-
6785		-1697
6786		-01:13:17,730 ~-~-> 01:13:20,310
6787		-excited to hear what each of you are
6788		-
6789		-1698
6790		-01:13:20,310 ~-~-> 01:13:23,760
6791		-doing as you're developing. And that's
6792		-
6793		-1699
6794		-01:13:23,760 ~-~-> 01:13:25,500
6795		-the, that's my motivation and doing all
6796		-
6797		-1700
6798		-01:13:25,500 ~-~-> 01:13:27,060
6799		-these things. I don't take any monetary
6800		-
6801		-1701
6802		-01:13:27,060 ~-~-> 01:13:30,060
6803		-gain out of it. I don't request any kind
6804		-
6805		-1702
6806		-01:13:30,060 ~-~-> 01:13:32,100
6807		-of subscription fees or anything like
6808		-
6809		-1703
6810		-01:13:32,100 ~-~-> 01:13:34,530
6811		-that. I get a high off of everyone
6812		-
6813		-1704
6814		-01:13:34,530 ~-~-> 01:13:37,440
6815		-else's development. And when I see the
6816		-
6817		-1705
6818		-01:13:37,440 ~-~-> 01:13:39,930
6819		-feedback through either Twitter, or
6820		-
6821		-1706
6822		-01:13:39,960 ~-~-> 01:13:42,780
6823		-emails or on forums, that they've
6824		-
6825		-1707
6826		-01:13:43,020 ~-~-> 01:13:46,470
6827		-developed to a measure of consistently
6828		-
6829		-1708
6830		-01:13:46,830 ~-~-> 01:13:50,400
6831		-profitable or encouraging results that
6832		-
6833		-1709
6834		-01:13:50,400 ~-~-> 01:13:53,550
6835		-lead to more, you know, comfort levels
6836		-
6837		-1710
6838		-01:13:53,550 ~-~-> 01:13:55,860
6839		-in terms of not being fearful of taking
6840		-
6841		-1711
6842		-01:13:55,860 ~-~-> 01:13:57,540
6843		-a trade. You'd be surprised how many
6844		-
6845		-1712
6846		-01:13:57,540 ~-~-> 01:14:00,000
6847		-folks are still fearful. You just get
6848		-
6849		-1713
6850		-01:14:00,000 ~-~-> 01:14:02,160
6851		-involved in it in a demo account because
6852		-
6853		-1714
6854		-01:14:02,160 ~-~-> 01:14:04,740
6855		-they don't want to face that, that right
6856		-
6857		-1715
6858		-01:14:04,740 ~-~-> 01:14:07,740
6859		-or wrong conclusion to their decision.
6860		-
6861		-1716
6862		-01:14:08,100 ~-~-> 01:14:10,920
6863		-And I'll have more to say about that in
6864		-
6865		-1717
6866		-01:14:10,920 ~-~-> 01:14:13,770
6867		-the in the last installment, but what
6868		-
6869		-1718
6870		-01:14:13,770 ~-~-> 01:14:15,720
6871		-specifically will be covered in the
6872		-
6873		-1719
6874		-01:14:15,720 ~-~-> 01:14:18,000
6875		-escape and evasion? Well, we're going to
6876		-
6877		-1720
6878		-01:14:18,000 ~-~-> 01:14:20,940
6879		-go over viewing the entire ICT scout
6880		-
6881		-1721
6882		-01:14:20,940 ~-~-> 01:14:23,670
6883		-sniper basic Field Guide series in its
6884		-
6885		-1722
6886		-01:14:23,670 ~-~-> 01:14:27,060
6887		-completeness, okay? Because we have to
6888		-
6889		-1723
6890		-01:14:27,060 ~-~-> 01:14:31,290
6891		-do this in a more comprehensive fashion.
6892		-
6893		-1724
6894		-01:14:31,560 ~-~-> 01:14:33,480
6895		-It just means we got to go through it
6896		-
6897		-1725
6898		-01:14:33,480 ~-~-> 01:14:35,160
6899		-all over again. But obviously, it's not
6900		-
6901		-1726
6902		-01:14:35,160 ~-~-> 01:14:37,350
6903		-going to go 12 hours long. But we're
6904		-
6905		-1727
6906		-01:14:37,350 ~-~-> 01:14:39,960
6907		-gonna break it down and be more precise
6908		-
6909		-1728
6910		-01:14:39,990 ~-~-> 01:14:42,510
6911		-and concise with what specifically
6912		-
6913		-1729
6914		-01:14:42,510 ~-~-> 01:14:43,650
6915		-you're supposed to be doing with each
6916		-
6917		-1730
6918		-01:14:43,650 ~-~-> 01:14:45,090
6919		-one of these videos and the tools that
6920		-
6921		-1731
6922		-01:14:45,210 ~-~-> 01:14:47,970
6923		-are within them. And we're gonna be
6924		-
6925		-1732
6926		-01:14:47,970 ~-~-> 01:14:50,520
6927		-talking about adopting the ICT mindset
6928		-
6929		-1733
6930		-01:14:50,520 ~-~-> 01:14:54,300
6931		-to trading. Okay, when we're looking at
6932		-
6933		-1734
6934		-01:14:54,300 ~-~-> 01:14:56,160
6935		-the inner circle trader tips for
6936		-
6937		-1735
6938		-01:14:56,160 ~-~-> 01:14:57,960
6939		-continued trader development, a lot of
6940		-
6941		-1736
6942		-01:14:57,960 ~-~-> 01:15:00,000
6943		-things that have not spoke in this
6944		-
6945		-1737
6946		-01:15:00,000 ~-~-> 01:15:03,960
6947		-series have held on to the last video,
6948		-
6949		-1738
6950		-01:15:03,960 ~-~-> 01:15:07,140
6951		-so I wait at least six hours long. It's
6952		-
6953		-1739
6954		-01:15:07,140 ~-~-> 01:15:08,640
6955		-good, it's gonna be long, but it's
6956		-
6957		-1740
6958		-01:15:08,640 ~-~-> 01:15:11,160
6959		-probably not gonna be six hours. And
6960		-
6961		-1741
6962		-01:15:11,160 ~-~-> 01:15:12,900
6963		-we're going to be revealing the ICT flow
6964		-
6965		-1742
6966		-01:15:12,900 ~-~-> 01:15:14,700
6967		-chart to market analysis into
6968		-
6969		-1743
6970		-01:15:14,700 ~-~-> 01:15:17,790
6971		-applications so that way, you don't have
6972		-
6973		-1744
6974		-01:15:17,790 ~-~-> 01:15:21,630
6975		-to guess or wonder, would I be using
6976		-
6977		-1745
6978		-01:15:21,630 ~-~-> 01:15:24,240
6979		-this tool at this time? Or would I be
6980		-
6981		-1746
6982		-01:15:24,270 ~-~-> 01:15:26,730
6983		-using that method at this time? No,
6984		-
6985		-1747
6986		-01:15:26,880 ~-~-> 01:15:28,560
6987		-you're going to have a very clear
6988		-
6989		-1748
6990		-01:15:28,560 ~-~-> 01:15:30,540
6991		-generic way of going through the market,
6992		-
6993		-1749
6994		-01:15:30,870 ~-~-> 01:15:33,540
6995		-breaking it down in a routine fashion
6996		-
6997		-1750
6998		-01:15:33,540 ~-~-> 01:15:35,490
6999		-that way, once you do it for a period of
7000		-
7001		-1751
7002		-01:15:35,490 ~-~-> 01:15:37,440
7003		-time, you won't need the flow chart,
7004		-
7005		-1752
7006		-01:15:37,440 ~-~-> 01:15:39,240
7007		-you'll just know simply, okay, well it
7008		-
7009		-1753
7010		-01:15:39,240 ~-~-> 01:15:40,680
7011		-does this. So therefore, I'm going to do
7012		-
7013		-1754
7014		-01:15:40,680 ~-~-> 01:15:42,660
7015		-that. If it's done this, then I'm going
7016		-
7017		-1755
7018		-01:15:42,660 ~-~-> 01:15:44,370
7019		-to do that. So you're always going to
7020		-
7021		-1756
7022		-01:15:44,370 ~-~-> 01:15:48,480
7023		-have a response to current environment,
7024		-
7025		-1757
7026		-01:15:48,570 ~-~-> 01:15:50,070
7027		-okay. So either you're going to take
7028		-
7029		-1758
7030		-01:15:50,070 ~-~-> 01:15:51,300
7031		-action, you're going to throw in your
7032		-
7033		-1759
7034		-01:15:51,300 ~-~-> 01:15:53,670
7035		-hands, or you're gonna protect and
7036		-
7037		-1760
7038		-01:15:53,700 ~-~-> 01:15:56,070
7039		-preserve your capital. Okay. There's
7040		-
7041		-1761
7042		-01:15:56,100 ~-~-> 01:15:59,400
7043		-your three engagements to the
7044		-
7045		-1762
7046		-01:15:59,400 ~-~-> 01:16:01,230
7047		-marketplace. That's it. So you can do,
7048		-
7049		-1763
7050		-01:16:01,680 ~-~-> 01:16:02,760
7051		-either you're going to take action,
7052		-
7053		-1764
7054		-01:16:03,660 ~-~-> 01:16:05,310
7055		-you're going to enhance do nothing, or
7056		-
7057		-1765
7058		-01:16:05,310 ~-~-> 01:16:07,290
7059		-you're going to protect and preserve
7060		-
7061		-1766
7062		-01:16:07,350 ~-~-> 01:16:09,390
7063		-your equity. Okay? There's only three
7064		-
7065		-1767
7066		-01:16:09,390 ~-~-> 01:16:10,350
7067		-things that can happen in the
7068		-
7069		-1768
7070		-01:16:10,350 ~-~-> 01:16:12,630
7071		-marketplace as you as a trader, and
7072		-
7073		-1769
7074		-01:16:12,660 ~-~-> 01:16:15,660
7075		-you'll have every possible scenario that
7076		-
7077		-1770
7078		-01:16:15,660 ~-~-> 01:16:18,930
7079		-I could fathom, okay, in a manner of
7080		-
7081		-1771
7082		-01:16:19,050 ~-~-> 01:16:21,090
7083		-looking at the marketplace, digesting it
7084		-
7085		-1772
7086		-01:16:21,090 ~-~-> 01:16:22,170
7087		-and saying, Okay, what should I be
7088		-
7089		-1773
7090		-01:16:22,170 ~-~-> 01:16:25,980
7091		-doing? In the mindset that ICT or myself
7092		-
7093		-1774
7094		-01:16:26,550 ~-~-> 01:16:32,040
7095		-utilizes in trading? And obviously, like
7096		-
7097		-1775
7098		-01:16:32,040 ~-~-> 01:16:33,540
7099		-all good things, they have to come to an
7100		-
7101		-1776
7102		-01:16:33,540 ~-~-> 01:16:36,330
7103		-end I'll have a few more words on
7104		-
7105		-1777
7106		-01:16:36,360 ~-~-> 01:16:39,240
7107		-accountability and consistency. So until
7108		-
7109		-1778
7110		-01:16:39,240 ~-~-> 01:16:41,040
7111		-then, guys, I wish you good luck and
7112		-
7113		-1779
7114		-01:16:41,040 ~-~-> 01:16:41,550
7115		-good trading.