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Version 1.1 by Drunk Monkey on 2020-11-20 16:37
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Drunk Monkey 1.1 1 1
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3 ICT: folks this is ICT with the scout
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7 sniper basic Field Guide Part Seven in
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11 our continuing series after this, we
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15 only got one more installment left and
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19 more complete. Okay, we're gonna be
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23 looking at multiple targets, okay and
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27 which specifically we'll be covering in
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31 this presentation. We're going to be
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35 reviewing the previous assignment,
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37 10
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39 discovering the average number of pips
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41 11
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43 intraday, a study on that. And we're
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45 12
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47 looking at ICT chart examples and stop
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49 13
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51 loss orders
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55 revisited.
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59 And we'll be looking at the average
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63 daily PIP ranges. We're going to be
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67 discussing when ranges contract and why
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71 it's essential for you to be prepared.
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75 And the 30 PIP stop loss and why
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79 we're gonna be looking at the ICT split
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83 gains ratio. Okay, and why is it
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87 important to understand your trade
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91 setups?
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95 What is the concern
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99 what makes a change different to any
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103 other.
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107 Why is classification essential to
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111 profit taking?
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115 And the ICT split ratios explained? And
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117 30
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119 we're gonna be discussing, are we in
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123 sync or not? intermediate term ratios,
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127 short term ratios, day trading ratios,
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131 and finally, scalping ratios. And in
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135 conclusion, we'll have one more
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139 assignment and the last one in this
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143 series. It will be basically a review
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147 for you to go through all of the
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151 previous videos one more time. Try to
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155 gather up all your notes again. And
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159 we'll be moving on to the final
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163 conclusion. installment to this series.
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165 42
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167 I think what I have planned an outline
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171 is still a little bit more to work to be
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175 complete, but What I have so far you'll
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179 be very, you'll be very surprised to see
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183 how these tools are used and when to use
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187 them and when not to use them. So let's
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191 move on.
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193 49
194 00:03:20,160 ~-~-> 00:03:22,050
195 Okay, folks, we're looking at the Euro
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197 50
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199 USD. So 15 minute chart. And keeping in
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201 51
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203 mind with this teaching series,
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207 obviously we talked about how trading in
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211 line with the higher time frame daily
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213 54
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215 and using the nine and 18
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217 55
218 00:03:36,960 ~-~-> 00:03:37,500
219 moving
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223 averages, Exponential Moving Averages
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225 57
226 00:03:39,390 ~-~-> 00:03:43,170
227 rather to kind of give you a buy model
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229 58
230 00:03:43,380 ~-~-> 00:03:47,460
231 for institutional flows. So more or
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233 59
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235 less, use this section of the
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237 60
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239 marketplace, basically, the 30th of
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243 September to the fourth of October. So
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245 62
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247 you can pull that up on your charts
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249 63
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251 everybody the same markups on going here
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253 64
254 00:04:01,080 ~-~-> 00:04:03,600
255 and I have each day delineated for a
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257 65
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259 client and you can use an empty for by
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261 66
262 00:04:05,610 ~-~-> 00:04:07,830
263 holding down control and tapping why
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265 67
266 00:04:09,809 ~-~-> 00:04:11,129
267 see that happening here
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269 68
270 00:04:12,780 ~-~-> 00:04:16,170
271 and these horizontal lines just take the
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273 69
274 00:04:16,200 ~-~-> 00:04:17,370
275 vertical lines so if you see a little
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277 70
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279 bit better, this is delineating the
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281 71
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283 previous day. Okay, this is previous
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285 72
286 00:04:23,160 ~-~-> 00:04:26,280
287 day's high which is seen here and this
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289 73
290 00:04:26,280 ~-~-> 00:04:28,560
291 is the previous day's low which is seen
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293 74
294 00:04:28,560 ~-~-> 00:04:31,110
295 here. Okay, I'm going to share these
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297 75
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299 tools on the internet and
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303 you'll be able to
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307 download and apply them to your mt four
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309 78
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311 platform as well.
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313 79
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315 We're gonna look at
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317 80
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319 a few things here obviously, beginning
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321 81
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323 with the average PIP range, so this date
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325 82
326 00:04:49,290 ~-~-> 00:04:55,650
327 high to low. Using this here we have 78
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329 83
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331 pips see the middle
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333 84
334 00:04:58,110 ~-~-> 00:04:58,800
335 number here.
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337 85
338 00:05:00,690 ~-~-> 00:05:03,570
339 78 pips, okay? So
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341 86
342 00:05:04,530 ~-~-> 00:05:06,810
343 on this particular week this Monday It
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345 87
346 00:05:06,810 ~-~-> 00:05:08,970
347 was 70 pips for that particular day.
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349 88
350 00:05:09,900 ~-~-> 00:05:12,150
351 This trading day we had the high here
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353 89
354 00:05:13,500 ~-~-> 00:05:15,810
355 and the low formed right here, right
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357 90
358 00:05:15,810 ~-~-> 00:05:16,590
359 there on that candle.
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361 91
362 00:05:18,600 ~-~-> 00:05:21,450
363 So by looking at that range
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365 92
366 00:05:23,339 ~-~-> 00:05:26,309
367 okay we have a range of 71 pips, okay?
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369 93
370 00:05:26,639 ~-~-> 00:05:29,819
371 Very close to the previous day's daily
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373 94
374 00:05:29,819 ~-~-> 00:05:35,369
375 range. We have this range here, which is
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377 95
378 00:05:35,369 ~-~-> 00:05:41,039
379 103 or four pips or other Okay, again,
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381 96
382 00:05:41,039 ~-~-> 00:05:43,499
383 that's this day's high, this day's low.
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385 97
386 00:05:43,859 ~-~-> 00:05:44,879
387 And what this indicator does, it
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389 98
390 00:05:44,879 ~-~-> 00:05:46,859
391 actually plots the previous day's high
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393 99
394 00:05:46,859 ~-~-> 00:05:50,219
395 and low. So you can see graphically and
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397 100
398 00:05:50,219 ~-~-> 00:05:51,719
399 there's a lot of uses for that, but
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401 101
402 00:05:51,749 ~-~-> 00:05:53,729
403 we're not going to go into it here, but
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405 102
406 00:05:53,849 ~-~-> 00:05:55,169
407 you'll hear more about it as
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409 103
410 00:05:56,370 ~-~-> 00:05:57,180
411 we get into
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413 104
414 00:05:58,860 ~-~-> 00:05:59,670
415 the eighth
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417 105
418 00:06:01,170 ~-~-> 00:06:02,430
419 installment in the series.
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421 106
422 00:06:02,850 ~-~-> 00:06:06,780
423 Okay we have 64 pips on this range here.
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425 107
426 00:06:07,230 ~-~-> 00:06:07,710
427 Okay.
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429 108
430 00:06:08,250 ~-~-> 00:06:10,470
431 And now what do we what did we just see?
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433 109
434 00:06:11,190 ~-~-> 00:06:16,620
435 Okay we saw 7070 is, you know
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437 110
438 00:06:18,329 ~-~-> 00:06:20,159
439 the PIP range
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441 111
442 00:06:20,699 ~-~-> 00:06:23,429
443 hanging around that 70 to 80 PIP marker,
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445 112
446 00:06:24,179 ~-~-> 00:06:29,069
447 we moved into 100 pips. Then in here we
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449 113
450 00:06:29,069 ~-~-> 00:06:34,229
451 shrunk down to 60. So we had 7070 160
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453 114
454 00:06:34,829 ~-~-> 00:06:37,199
455 Okay, so we had contraction in the daily
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457 115
458 00:06:37,199 ~-~-> 00:06:41,129
459 range rate in here. That means there is
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461 116
462 00:06:41,129 ~-~-> 00:06:44,669
463 a pretty sizable move that's expected,
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465 117
466 00:06:44,999 ~-~-> 00:06:47,939
467 just simply looking at volatility alone.
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469 118
470 00:06:48,149 ~-~-> 00:06:50,249
471 Okay, this is why it's important to know
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473 119
474 00:06:50,249 ~-~-> 00:06:52,889
475 when the daily ranges start to contract.
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477 120
478 00:06:53,369 ~-~-> 00:06:54,599
479 You need to be prepared because
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481 121
482 00:06:54,599 ~-~-> 00:06:56,399
483 something's about to take place that you
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485 122
486 00:06:56,399 ~-~-> 00:06:59,699
487 could capitalize on. Okay. We're going
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489 123
490 00:06:59,699 ~-~-> 00:07:05,669
491 into it new week here. The market makes
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493 124
494 00:07:05,669 ~-~-> 00:07:08,339
495 a small range again. Okay? And that's
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497 125
498 00:07:08,339 ~-~-> 00:07:12,089
499 this low here, this high. Okay,
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501 126
502 00:07:12,089 ~-~-> 00:07:13,259
503 typically Mondays we don't like to
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505 127
506 00:07:13,259 ~-~-> 00:07:15,059
507 trade. But
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509 128
510 00:07:16,589 ~-~-> 00:07:17,279
511 you can see
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513 129
514 00:07:21,120 ~-~-> 00:07:23,880
515 the high and low here on this day. It's
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517 130
518 00:07:23,880 ~-~-> 00:07:29,370
519 this range here. So that's 45. So the
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521 131
522 00:07:29,370 ~-~-> 00:07:31,530
523 daily PIP ranges have really
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525 132
526 00:07:31,530 ~-~-> 00:07:34,350
527 consolidated into a smaller tighter
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529 133
530 00:07:34,650 ~-~-> 00:07:37,260
531 daily range to were much smaller than we
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533 134
534 00:07:37,260 ~-~-> 00:07:39,690
535 were on this previous week.
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537 135
538 00:07:41,760 ~-~-> 00:07:42,720
539 Mark comes down,
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541 136
542 00:07:44,069 ~-~-> 00:07:45,389
543 find some support.
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545 137
546 00:07:48,660 ~-~-> 00:07:50,970
547 We have the previous day's high here,
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549 138
550 00:07:51,570 ~-~-> 00:07:53,880
551 which is right here, this candle here
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553 139
554 00:07:54,510 ~-~-> 00:07:55,920
555 and the low here so we're going to put
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557 140
558 00:07:55,920 ~-~-> 00:08:00,930
559 on this so it's easy to see 130 13 pips
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561 141
562 00:08:01,560 ~-~-> 00:08:04,530
563 is this range here. Okay, so the ranges
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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
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573 144
574 00:08:15,420 ~-~-> 00:08:18,720
575 have 59. So we have another small
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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
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585 147
586 00:08:24,240 ~-~-> 00:08:25,980
587 it doesn't give you directional premise.
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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
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597 150
598 00:08:30,300 ~-~-> 00:08:32,610
599 ranges start to contract that does not
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601 151
602 00:08:32,610 ~-~-> 00:08:34,470
603 imply directional premise. It just means
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605 152
606 00:08:34,470 ~-~-> 00:08:35,490
607 a volatility
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609 153
610 00:08:36,329 ~-~-> 00:08:36,929
611 pop,
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613 154
614 00:08:36,989 ~-~-> 00:08:38,789
615 if you will, where the markets really
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617 155
618 00:08:38,789 ~-~-> 00:08:40,139
619 going to make a swing one direction or
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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.