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ICT-WENT-01.srt

Last modified by Drunk Monkey on 2021-06-10 09:20
1 00:00:17,190 --> 00:00:25,590 ICT: Okay, guys, what every new and aspiring forex trader wants to know. Now before we begin out, it's very important you understand what I'm about to tell
2 00:00:25,590 --> 00:00:35,790 you. I'm not trying to be egotistical or arrogant about, but I know exactly what you're looking for. I've been trading for 20 years, it's over two decades worth
3 00:00:35,790 --> 00:00:45,570 of real world experience in the trading markets, and not just the Forex market.  So I've been exposed really to a lot of the things you probably either just now
4 00:00:45,570 --> 00:00:56,970 getting interested in in terms of technical tools, or concepts, and probably pretty much discarded it at least 80% of the things that you probably are, are
5 00:00:56,970 --> 00:01:08,670 trying to learn now, for technical analysis. It's simply because they do not work. It's my life's passion, really, to acquire some of the most powerful
6 00:01:08,940 --> 00:01:19,470 trading concepts that are available to technical traders. And I've accumulated a pretty good toolbox over the years. And it's my pleasure now to share that with
7 00:01:19,470 --> 00:01:19,770 you.
8 00:01:27,360 --> 00:01:36,060 So you want to be a forex trader? Well, let's first congratulate you with that decision. Because I mean, this from the bottom of my heart, I think this is the
9 00:01:36,060 --> 00:01:48,480 absolute best asset class there is. And that flies in the face of one of my mentors, Larry Williams opinion of the Forex market. Larry Williams has his own
10 00:01:48,480 --> 00:02:02,070 record stating that the foreign exchange market is the worst place to be in. And I've come to realize that's not entirely true. I believe that our mentors
11 00:02:02,070 --> 00:02:13,650 opinions are beneficial to us. But we are never to be locked in to one particular person's perspective. And that goes with me as well. So if I say
12 00:02:13,650 --> 00:02:22,530 something that does not resonate with you, as a developing trader, or someone that has experience, don't let that influence you in not least seeking out that
13 00:02:22,530 --> 00:02:34,560 matter a little bit deeper. I simply don't like bollinger bands, for instance, and you may acquire a taste for using that as a tool. So don't let my insights
14 00:02:34,590 --> 00:02:44,880 discourage you. Okay, from doing further research, I'm confident that even if you deviate from my material, you will come back to if you've sincerely given it
15 00:02:45,000 --> 00:03:00,840 a you know, a thorough going through once or twice. But I think this business is very, very beneficial, okay, to small traders, because if you're trading in the
16 00:03:00,840 --> 00:03:11,520 stock market, how many shares of stock Can you buy of Apple right now, Adidas did a four to one split, I think it was. Now it's like $90 a share at the time
17 00:03:11,520 --> 00:03:21,240 of this recording, but how many how many shares you're going to be able to buy if you have 1000 bucks, not many. And if you're trading a commodity market,
18 00:03:21,360 --> 00:03:32,940 okay, the initial margin on some of those particular asset classes are pretty hefty as well. Okay? So, and plus you're stuck inside of the, the futures
19 00:03:32,940 --> 00:03:43,680 contract specification. And, for instance, you know, if you're trading the currency, the British pound, okay, you're stuck trading, either the midam
20 00:03:43,680 --> 00:03:54,120 contract or the new half of a full contract, or you're trading the large contract. Okay, so you're kind of like forced to trade one or the other. And
21 00:03:54,150 --> 00:04:04,050 either one of them may not even fit your risk parameters that you would need, based on the equity Do you fund your account with that doesn't occur in the
22 00:04:04,050 --> 00:04:14,580 foreign exchange market, when you're trading spot retail, you have the ability to tailor your trading based on your risk adversity and send out words if you
23 00:04:14,880 --> 00:04:24,780 are very, very conservative, and you don't want to trade a whole lot in terms of risk. Okay, you can gear your leveraging down to a very, very small risk. Now
24 00:04:24,780 --> 00:04:31,380 you're not going to make a whole lot of money, okay, but you're not risking a whole lot either. And that's really where you should be at as a developing
25 00:04:31,380 --> 00:04:40,710 trader not focusing on how much money you can make. So there's a lot of rules that we're going to be putting on you Okay, and shaping your mindset as as it
26 00:04:40,710 --> 00:04:50,730 were. Okay for a developing trader and how to build this into your business. But for now, okay, understand that. This is an exciting adventure for you is
27 00:04:50,730 --> 00:05:02,760 something that you could do a very very good living Okay, exceptional living if you if, if you if you do Delve accurately in terms of In the process of becoming
28 00:05:02,790 --> 00:05:18,810 a methodical trader, role based trader, and if you adopt a strong psychological profile for how your trading relates to the neophytes, street traders, okay, and
29 00:05:18,810 --> 00:05:26,700 really, if you're watching this video, you're probably in that category. And it's not to be offensive, we all start there, okay, but if you understand that
30 00:05:26,730 --> 00:05:35,730 you have to, you have to pitch a tent there for a little while, but don't move into that neighborhood, you're going to eventually move out, okay, and move into
31 00:05:35,730 --> 00:05:48,090 a developmental process of developing into a professional trader. So, before we get into all of the specifics, let's go and look at some of the rules, okay to
32 00:05:48,090 --> 00:05:52,260 building a solid foundation as a starting developing trader.
33 00:05:56,850 --> 00:06:06,060 Now, again, I don't mean this to be arrogant, but I know exactly what you're looking for. You're probably watching this video at your job. And or you just
34 00:06:06,060 --> 00:06:15,510 recently got off of work, and you're watching videos that has been shared by me and probably other people on the internet. And you're pretty much daydreaming
35 00:06:15,540 --> 00:06:27,390 about what it would be like to get out of the rat race. And I know exactly how that feels. I've worked some of the most god awful positions in terms of working
36 00:06:27,390 --> 00:06:42,180 class. And I'm pretty much the definition of a working class hero, I was not going to stay in that industry of being a slave, if you will, to demand I'm,
37 00:06:42,270 --> 00:06:52,260 I've never been wired to be subordinate to anyone, not for a long period of time, if you will. I've always been rebellious in a lot of ways as relates to
38 00:06:52,260 --> 00:07:06,600 that. So I've been motivated to always find ways to you provide a means of financial support to myself and my family, and not really be dependent upon, you
39 00:07:06,600 --> 00:07:16,020 know, the guy that calls himself the boss over me needing to call the shots. So I know exactly what you're thinking and know what you're wanting to do. Okay,
40 00:07:16,020 --> 00:07:24,570 and even if you aren't being honest with you, yourself and me, okay, if we were in a room together, some of you may say, Well, not really in this to to get
41 00:07:24,570 --> 00:07:35,220 rich, well, you're probably lying through your teeth. Okay. Everybody wants more money. Okay. And greed is bad. Okay. But it's understandable that you should
42 00:07:35,220 --> 00:07:43,890 want to be able to provide for your family. Okay. And that's what I'm going to give you some skill sets to do. Okay, I can't promise you wealth. Okay, can you
43 00:07:43,890 --> 00:07:51,060 acquire wealth doing these things? Absolutely. But I can't promise everyone being able to do that, because you're all going to develop on a different
44 00:07:51,540 --> 00:07:59,220 timeframes. And some of the skill sets that are going to be shared with you, it's going to have to require work on your part. And you may throw in the towel,
45 00:07:59,280 --> 00:08:08,910 you may get frustrated and quit, you may require more time than others, okay?  And it's going to require your use of a demo account, and you probably have
46 00:08:08,910 --> 00:08:18,750 already utilized a demo account a few times now, you probably dusted it, okay, in other words, busted all the pretend money in the account. And I don't want
47 00:08:18,750 --> 00:08:30,870 you to think in that that's, you know, without consequence, there is absolute bad habit forming when you play around in the sandbox in a demo account, unless
48 00:08:30,870 --> 00:08:40,740 you're doing specific skill sets that are inherently designed for you to adopt a, a pain threshold. And then there's some of these skills we're going to be
49 00:08:40,740 --> 00:08:48,930 sharing in drills and exercises. But I want you to understand that when you're in a demo account, you should be treating it like it's your business, okay? It's
50 00:08:48,930 --> 00:08:56,910 like it's your account. And don't open up a demo account with $50,000. So pretend money, because you're most likely chances are never going to be opening
51 00:08:56,910 --> 00:09:07,560 up a forex retail account with $50,000 if you've never traded before, so I don't want you thinking that, you know, the answers are going to be found in forums, I
52 00:09:07,560 --> 00:09:14,430 don't want you thinking that there's going to be this magic pill out there where you swallow it and all of a sudden, you're super trader, there's no specific
53 00:09:14,790 --> 00:09:24,960 method out there. That's perfect mind is not perfect. You're going to lose money doing the things that I do. Okay, but you're going to develop as a extremely
54 00:09:25,200 --> 00:09:34,830 precise trader, if you put the work into the tools I'm sharing and exercises and concepts. I don't want you to think that you have to go into this trading every
55 00:09:34,830 --> 00:09:50,010 single pair that's not needed. Okay. You only need one real particular pair. You may like the Euro, you may like the Aussie US dollar, you might like the cable,
56 00:09:50,549 --> 00:10:01,589 okay, and it's really a personal preference. Whichever one you like, pursue it.  trade it for a little while. Learn its characteristics. But you don't need to be
57 00:10:01,589 --> 00:10:10,439 trading a whole lot of pairs. And don't think that you're going to be getting rich real quick, because that's why 90% if you believe the statistics that are
58 00:10:10,439 --> 00:10:18,779 shared with us fail in this business, and it's not just forex, it's trading as a whole. Because everyone goes into it for the same reason. They want to quit
59 00:10:18,779 --> 00:10:26,669 their job this month, they want to do it with no money in the account $500 they're going to be the next guy that retires and makes it to the front of
60 00:10:26,669 --> 00:10:36,539 futures magazine, or you trader magazine this month, okay. And they're going to be the centerfold. I don't want you to think like that. Okay. And if you're
61 00:10:36,539 --> 00:10:47,339 playing a demo account, and you feel that warm, fuzzy feeling, when you get a win on paper trades, don't buy into that, okay? There's chemical reactions that
62 00:10:47,369 --> 00:10:56,519 release in your brain when you when you see yourself being right, what you're teaching yourself, okay? You're teaching yourself that when you overleveraged
63 00:10:56,549 --> 00:11:04,439 with no plan, it might work out. So therefore, that's how you're going to make your money. And that's how you're going to quit your job. And that's not how
64 00:11:04,499 --> 00:11:14,909 professional traders trade. That's not how Working Class Heroes come out of the rat race, and leave that that slave mentality to be a self sufficient,
65 00:11:15,059 --> 00:11:27,239 independent thinking, profit producing trader. Okay, Daddy equation never evolves to professional, consistent trader, okay, that is a gambler. That's the
66 00:11:27,269 --> 00:11:37,349 folks that go into account, with live funds dusted in 30 to 90 days, okay, that's statistics. That's proof. That's what happens. And we're in the business
67 00:11:37,379 --> 00:11:48,389 of avoiding that, okay? Every business goes into the beginning, with the intent of making a profit. 80% of businesses go into it with no plan, and they fail.
68 00:11:48,719 --> 00:11:55,319 Okay, so don't be surprised if that's how you go into forex trading, if you have no plan, and you're just playing around demo account, and you think it's gonna
69 00:11:55,319 --> 00:12:03,359 be like lottery, okay? Don't watch these videos, okay, because really, you're wasting your time. And you're really, you're really doing a disservice to
70 00:12:03,359 --> 00:12:16,739 yourself and a certain measure of disrespect, because I'm putting a lot of emphasis on tools and concepts for you to be in powered by, but not to be you
71 00:12:16,739 --> 00:12:24,119 cherry pick, don't go through this material, and pick out what you like, go through all that. Now, there may be tools and concepts that don't resonate with
72 00:12:24,119 --> 00:12:34,919 you. But I have a couple of them for each stage of analysis. And you can find one that really resonates with you and run with that. But I don't want you to
73 00:12:34,919 --> 00:12:43,199 think that you have to be getting rich quick. That's not what you need to be thinking here. And if you've been thinking like that, I want to ask you, where
74 00:12:43,199 --> 00:12:51,569 have you gotten with that mindset, you still working your job, you're probably more miserable now than you did before you found 4x because it was one of those
75 00:12:51,629 --> 00:13:02,099 one more dead in opportunities. One more could have been, but it's too good to be true type thing. And I guarantee you, by the time I'm done with you, you're
76 00:13:02,099 --> 00:13:18,149 going to realize that forex is not one of those things at all. Now know you've been thinking you're probably smiling right now. But think about it. You've been
77 00:13:18,179 --> 00:13:27,779 thinking about the likelihood of making your annual salary inside of a couple months, how well you're going to look amongst your friends, how well you're
78 00:13:27,779 --> 00:13:36,989 going to look amongst the opposite sex, maybe your spouse would be much more impressed with you, maybe your in laws will love you more. Okay, but the bottom
79 00:13:36,989 --> 00:13:51,179 line is, those things are external. Okay, those things are things that are going to cause you to feel like you have to weigh your performance to be significant.
80 00:13:51,449 --> 00:14:00,509 And that's not what you're doing this for, okay? You want to be trading as a business. I don't see fast food chains. Think about it like this.
81 00:14:01,200 --> 00:14:11,700 McDonald's. Just about every person on every continent knows who Ronald McDonald is. Even though they started their business, and they framed it with a
82 00:14:11,700 --> 00:14:23,250 foundation of a clown of all things to have as your mascot. Did they go in clowning around as a business? No way. They use that trademark image of a clown.
83 00:14:23,760 --> 00:14:31,800 But they're absolutely dead serious about making profits. And man, they make profits. They do very, very well. That's how you should be thinking you want to
84 00:14:31,800 --> 00:14:43,620 be thinking, How can I go forward as a business owner, okay, with no employees except for you. Okay? And you need to be going into this with that mindset
85 00:14:43,620 --> 00:14:55,380 thinking I'm going to be turning this into a future long term business. I'm going to be replacing my income with this very concept of extracting funds from
86 00:14:55,380 --> 00:15:05,250 the foreign exchange market. But it's going to come with work you He's going to have to come with a lot of effort. And it's going to be expensive. I don't
87 00:15:05,250 --> 00:15:18,150 charge money. But I promise you, I'm going to charge you time. Because I have to force patience and a lot of you, it was forced of me. That's how I learned. The
88 00:15:18,150 --> 00:15:27,330 best things come with adversity. And you're going to learn that your greatest lessons are going to come with pain, submit to the pain, submit to the
89 00:15:27,330 --> 00:15:38,790 adversity, and above all, submit the time, you're going to need to relinquish this necessity to being right. Because when you start looking at the right side
90 00:15:38,790 --> 00:15:48,120 of that chart, and not knowing what to anticipate or expect, if you haven't done the work with other skill sets, and the drills that we're going to be doing, you
91 00:15:48,120 --> 00:15:57,660 won't have the foundation to rely on knowing what to anticipate, you're going to be reacting like everyone else does in the retail market and lose their shirts.
92 00:16:06,480 --> 00:16:15,240 Alright, forget what you think, you know. Now, if you are one that likes to dabble in other people's methods, and or resources, and you'd like to blend,
93 00:16:16,020 --> 00:16:25,860 well, that doesn't work with me, okay? So it's going to require you to empty the glass, okay? or forget it all together. Because if you come into my material,
94 00:16:26,070 --> 00:16:37,080 and you want to cherry pick, you aren't going to get the benefit of the full immersion that's required to get the macro view down to the micro view. Okay.
95 00:16:37,320 --> 00:16:48,690 And by having this willingness on your part, to just simply let go of everything you think, you know, okay, and I understand it can be hard, okay, but I can't
96 00:16:48,690 --> 00:17:00,600 stress it enough that it took a lot for me to undo a lot of the things I learned. In the beginning, I thought I was really being taught by some of the
97 00:17:00,600 --> 00:17:08,400 best traders in the world by buying everyone's book out there. Because if they read a book, obviously, they must know something that you know, I don't, well,
98 00:17:08,400 --> 00:17:18,510 what they did was, they knew I would be buying that book. And those particular people were making their living off of buying new selling books, like, you know,
99 00:17:18,510 --> 00:17:27,630 I was there their customer. And I'm confident that the majority of those authors were never really successful traders, or even trade the markets ever. And I've
100 00:17:27,630 --> 00:17:36,150 been to pretty much everything that's available out there. And pretty much seen everything there is as it relates to trading, not only on the retail level, but
101 00:17:36,150 --> 00:17:45,390 on an institutional level decide that most people aren't really privy to, I spent a lot of money for my education, much more than I should have. And I can
102 00:17:45,390 --> 00:17:55,230 tell you, the majority of it was a waste of money and time, a lot of the lessons I learned, and I did have a handful of mentors. No, no, don't get me wrong. And
103 00:17:55,230 --> 00:18:04,050 I have a video on the internet that discusses where I learned my materials from and how they inspired me to get some of the other insights I gleaned from just
104 00:18:04,050 --> 00:18:13,890 simply going to the marketplace on a daily basis, looking for opportunities. But I have been through everything and digested everything that's pretty much
105 00:18:13,890 --> 00:18:21,930 available as it is now. And even still to this day, I buy courses and books, simply because I have the resources to do it too. I had the time to go through
106 00:18:21,930 --> 00:18:29,550 it in three, I just want to see if there really is any truth to the scripture that says there really is nothing new under the sun. And I can tell you there
107 00:18:29,550 --> 00:18:39,180 really isn't anything new out there. It's just regurgitated, you know, for lack of a better word crap, okay, that hasn't worked, doesn't show any form of
108 00:18:39,180 --> 00:18:48,240 consistency. And it's the same old Carnival trick where they show things that look like they've worked on the left side of the chart. But the ability for you
109 00:18:48,240 --> 00:18:58,710 to find that on the right side of chart is pretty much fleeting, and far and few between. What I have discovered is that because everyone's drinking from that
110 00:18:58,710 --> 00:19:11,010 same Well, the water sources tainted. And it wasn't until I took a step back and more or less, looked at everything backwards, everything became much more clear.
111 00:19:11,400 --> 00:19:23,460 And it was further confirmed when I got involved with folks that were much, much more knowledgeable than I am. And they pretty much tapped me into a perspective
112 00:19:23,490 --> 00:19:30,570 and looking at the marketplace that is completely and utterly unique. If you look at the books, they all tell us where to put our stop loss. And they all
113 00:19:30,570 --> 00:19:39,150 tell us when to buy and sell. But that's exactly where everyone puts their trades on and loses. Think about it. If that's the case, why are we doing that?
114 00:19:39,510 --> 00:19:49,770 Because you're being trained like a good sheep to go out and get slaughtered.  Think about it. That's what's been going on all along. But nobody is willing to
115 00:19:49,770 --> 00:20:02,130 admit what's been set up all along. You are being programmed to lose money. It's my goal to really shock you Because I don't want you to go into the thinking
116 00:20:02,310 --> 00:20:10,200 that this business was created, okay for you to come in and make money. It's not, this was not designed for you to come in and make money. This is a
117 00:20:10,260 --> 00:20:14,730 playground for the banks, and you are sheep for the slaughter.
118 00:20:15,360 --> 00:20:25,020 If you understand how the banks operate, how the dealers operate, how the market makers manipulate the marketplace, you can ride on their coattails. But I don't
119 00:20:25,020 --> 00:20:32,820 want you thinking simply because you've read a book, or you bought a course, or you went to a workshop, or you went to a seminar, I don't care how much you paid
120 00:20:32,820 --> 00:20:41,370 for it, how good different mentors are. Don't think that that's all you're going to require to go in here and start making money, you need to have a little bit
121 00:20:41,370 --> 00:20:50,610 more information, and sometimes a peek behind the curtain. And I'm pretty much the only one in the internet that really breaks it down in such a way where a it
122 00:20:50,610 --> 00:21:00,540 does sound like conspiracy theory, but to I can back it up with how the price moves, how, why it moves, when it moves, and how consistently, you know, it
123 00:21:00,540 --> 00:21:14,460 occurs. And I've developed concepts to more or less methodically explain how those individual components are stage by stage by stage step by step, how they
124 00:21:14,460 --> 00:21:23,550 unfold, what sets it up, why it's unfolding. And it really, when people are watching my videos and some of my analysis concepts that are before the fact it
125 00:21:23,550 --> 00:21:32,550 blows them away. And let me again, I'm not trying to be pompous. But it's just, that's the shock value. When you understand how the markets trade, when you are
126 00:21:32,550 --> 00:21:41,970 involved with someone that really knows what goes on behind the scenes, if you will. It's very, very exciting. When you see the things that are discussed as
127 00:21:42,090 --> 00:21:52,380 probable result reactions or expectations and it unfolds to the tee. It's very impressive to neophyte in layman's, and sometimes to even traders that have been
128 00:21:52,380 --> 00:22:02,220 around for a while, the level of precision that are that's acquired, okay, with these skill sets, it's again, equally, if not more impressive to those because
129 00:22:02,220 --> 00:22:10,170 they understand how hard it is for them to, to pull money out of the marketplace. As a new trader, you really don't know that you think it's like
130 00:22:10,170 --> 00:22:18,840 going out and pulling an apple off the tree. Okay, or pulling, you know, a stack of 15 out of the money tree you think is existing in the Forex market, you're
131 00:22:18,840 --> 00:22:28,260 just seeing through roast, rose colored glasses, everything looks the same to you. And it looks like you know, easy money. If you don't have a plan, I
132 00:22:28,260 --> 00:22:35,310 guarantee it's gonna be a nightmare for you. Okay, and we're going to build on that as we go. But I want you to understand right now, where you're at on the
133 00:22:35,310 --> 00:22:47,010 food chain, and how you're gonna be able to move yourself from being a sheep to a predator. Okay, and now officially, I want to walk me to your new beginning,
134 00:22:47,010 --> 00:22:58,470 because we are about to set some ground rules for you. And I understand that we as human beings don't necessarily like rules. And if you look at the signs that
135 00:22:58,470 --> 00:23:06,750 put on your next door neighbor's lawn, they'll say, Please don't walk on our lawn, and you're walking your dog, and what do you want to do? You want your dog
136 00:23:06,750 --> 00:23:15,630 to go walk across the lawn, or you want to step on that lawn inherently, that's our nature, we want to do the very things we're not supposed to do. Okay. I want
137 00:23:15,630 --> 00:23:27,180 you to leave your ego at the door. Okay? Don't, don't judge me. Don't judge the material until you've gone through it. And don't think that you're something
138 00:23:27,180 --> 00:23:38,340 that you really aren't. Okay? I'm not impressed by people sending me emails saying that they've been trading for x y years. And they've been doing XYZ of
139 00:23:39,090 --> 00:23:46,260 trading method and it does this and it does that. I'm not interested in if you if you're that type of person, okay.
140 00:23:46,710 --> 00:23:55,410 Again, I'm not in this for you to teach me anything. Okay. I'm in the business of sharing my experience with you. And it's because I are just going to be an
141 00:23:55,410 --> 00:24:04,800 exchange hopefully in time. I want your story. I want your success story. I want you to share it with me. That's why I share my real email addresses with you. I
142 00:24:04,800 --> 00:24:14,550 spent a lot of time because of my interest is really pegged to what you do with this information. And I want you to be a blessing to someone else in the future.
143 00:24:14,790 --> 00:24:23,100 I don't want any money from you. I'm not charging any any subscription fees or any I'm not selling you webinars and seminars and books and all this. I'm not
144 00:24:23,100 --> 00:24:33,870 doing those things. What I'm doing is I'm exchanging a relationship for a future reward. That's what I want. I want to know what you did with this information to
145 00:24:33,870 --> 00:24:44,250 help someone else. It may be helped them buy a house, it may be in by them groceries, it may be helping someone that lost the job get reestablished, okay,
146 00:24:44,280 --> 00:24:56,430 or it may be just, you know, giving to a charity and helping you someone that's less fortunate than you are. Okay, and in that to me is what we've been placed
147 00:24:56,430 --> 00:25:07,230 on this earth for to help our neighbors okay. and treat everyone like they're our family. And that's, that's the motive for me doing all this, okay, I get
148 00:25:07,230 --> 00:25:17,550 questions all the time, why am I doing this? Why am I spending so much time doing these things without any monetary exchange, I get more return with thank
149 00:25:17,550 --> 00:25:25,620 yous, because that's really all I'm looking for is the Thank you, and the future story of your success. I get more from that than you could ever do give me
150 00:25:25,620 --> 00:25:35,670 money. I don't need your money. I don't want your money, your your story and your inspiration, okay, that you share with me. And I've had a lot of
151 00:25:35,670 --> 00:25:46,500 individuals Give me that over the last 17 years of teaching, okay. I've had a lot of relationships on the internet. And many times, I'm brought to tears with
152 00:25:46,530 --> 00:26:00,030 the you the sheer inspiration that is been given to me by those that have done the things that I was hoping they would do with this information. And yes, I've
153 00:26:00,030 --> 00:26:09,180 seen some people go out and try to put it in, in in the things and sell it. And when I find out who they are, I go in and I try to tear down their their
154 00:26:09,180 --> 00:26:19,380 business model because I'll make available, you know, my time and tear down their, their, their their business plan to take what I give away for free, I go
155 00:26:19,380 --> 00:26:31,980 out and I more or less cut your throat to do it for free, and take away their paying subscribers and just welcoming them into our fold as as free. Members,
156 00:26:31,980 --> 00:26:40,710 there's no, there's no charging of anything with me. And I don't again, because I don't need your money. And I'm thankful for all those that take part in the
157 00:26:40,710 --> 00:26:52,200 currency that I've adopted for doing this, which is your Thank you, and your stories of inspiration, what you've done with the information. But there's
158 00:26:52,200 --> 00:27:00,270 something I want us all to understand going into this. As a trader, it's going to be important you understand what type of trader you are. And it's going to
159 00:27:00,270 --> 00:27:10,740 come with some understanding of some internal dialogue, you need to ask yourself a lot of questions. Are there specific to developing traders? Okay. Are you
160 00:27:10,740 --> 00:27:22,080 someone that procrastinates? Okay, do you change your mind a lot? Does it take very little change your mind, if you think like that, that tells you a specific
161 00:27:22,080 --> 00:27:35,040 profile of trading is going to suit you better than another real quick decision making? Are you an irritable person that flies off the handle real quick, you
162 00:27:35,040 --> 00:27:43,470 would be excellent scalper or day trader because you can see these minor reactions in the marketplace and make a decision based on that. Okay. If you're
163 00:27:43,470 --> 00:27:53,430 very slow to make a decision, you're ponder a lot. It takes a lot of thought, you know, it takes a whole lot of influence for you to make a decision and
164 00:27:53,430 --> 00:28:02,970 change your mind about something. You're a wonderful position trader, long term trader, if you're pretty much a happy go lucky guy and or gal, and you're pretty
165 00:28:02,970 --> 00:28:13,830 much you go with the flow, you could be a very good swing trader. Don't underestimate the power of doing this personal study, and I'm encouraging you to
166 00:28:13,830 --> 00:28:22,050 do this for a week, spend some time about some of the things that you think about how you react with your family, your spouse, your co workers, okay? How do
167 00:28:22,050 --> 00:28:31,170 you feel about, you know, all the things that you engage on a daily basis and the decision making process that you use to go along throughout your day? Are
168 00:28:31,170 --> 00:28:37,500 you quick, are you slow, okay, are you pretty much even tempered, and you pretty much can go
169 00:28:38,760 --> 00:28:48,570 in any environment and not really fly off the handle, and not really get too lethargic about making decision. If you are really balanced. That type of trader
170 00:28:48,600 --> 00:28:59,040 is, in my opinion, the best because he can or she can position trade, swing trade, short term trade, day trade and scalp, okay. And that's really where we
171 00:28:59,040 --> 00:29:07,110 want to get to. And if you are an erratic, short term thinker, you could start off as a scalper and day trader, but eventually develop into that balanced
172 00:29:07,110 --> 00:29:16,440 trader where you can trade all timeframes. And the same thing about that slow pondering decision making long term trader, we can give you skill sets to move
173 00:29:16,440 --> 00:29:26,520 you closer to a more balanced way of thinking where you can change your mind a little bit shorter term and not have to require so much in terms of influence to
174 00:29:26,640 --> 00:29:28,650 decide whether or not you will be a buyer seller.
175 00:29:33,930 --> 00:29:48,900 Now, we're going to be requiring you to utilize a demo account and I don't want you to misrepresent the concepts, okay and share new results that I'm not going
176 00:29:48,900 --> 00:29:58,050 to be impressed by. Okay. The demo account trading is not for you to send me pictures or screenshots to say look, I made this much money on paper money,
177 00:29:58,290 --> 00:30:06,540 okay, where I made this many pips. Your demo account is simply for you to look at. Nobody is supposed to be looking over your shoulder right now, unless it's
178 00:30:06,540 --> 00:30:12,210 your spouse or your business partner that you're going to be going into business with later on down the road, if you don't have enough money to go into this with
179 00:30:12,210 --> 00:30:24,000 my funds, but I don't want you also to going into a demo account with more money than you intend to trade with. Okay. And that may be a little bit of a
180 00:30:24,000 --> 00:30:33,570 constraint, because some of you may have less than $5,000, that your entire year that you intend to trade with. In that case, there's a lot of demo accounts, you
181 00:30:33,570 --> 00:30:42,600 can open it with 5000. If that's the case, whatever your demo account balances, when you open it up, only trade with the leverage that you would be able to
182 00:30:42,600 --> 00:30:52,530 trade with using the operating x equity, you would have no words, if you're gonna have $1,000, then that's all you use, regardless of how much free margin
183 00:30:52,530 --> 00:30:59,790 you have. In that demo account. You're not teaching yourself anything except for bad habits by over leveraging or doing things that you wouldn't be doing with
184 00:30:59,790 --> 00:31:10,380 the amount of money you plan to fund your Live account with over time. Do not underestimate the power of making bad habits form with demo account trading.
185 00:31:10,680 --> 00:31:23,160 Okay, demo account trading is given to you as a free tool by brokers. Now, I want you to think about this. Why would they do that? Because if you went into
186 00:31:23,160 --> 00:31:33,120 this, with real, real live funds, would not understand what you're doing, you'd lose your mind right away. And you would, you wouldn't feel good about none of
187 00:31:33,120 --> 00:31:40,620 it. Okay? Well, your first losing trade, you would close your your trade your trading account be done with it, what happens is, is they give you a demo
188 00:31:40,620 --> 00:31:48,630 account, and you play around in the demo account, you overleveraged you take a million trades in one day, and your mind is only going to focus on one of the
189 00:31:48,630 --> 00:31:58,050 good ones, the winning trades. And it's just like anything else, a casino?  Everyone out and everyone knows that 90% of people that go into a casino lose
190 00:31:58,050 --> 00:32:06,510 their money. So why do people go into the casinos by the bus loads, they fly out to Vegas, they fly out to Atlantic City, they go, you know, around the world to
191 00:32:06,540 --> 00:32:17,640 know this real high end casinos. Why? Because they want to be that one winner, they want to have that one winning experience. They want to have that, that rush
192 00:32:17,670 --> 00:32:29,490 of having had that, that that winner's mentality, even if it's just for one time they want that excitement, the what if it does happen factor? Well, I don't want
193 00:32:29,490 --> 00:32:37,740 you to have in that as a trader, especially as a developing trader, I want you to understand that you are a losing trader, every single time you put a trade on
194 00:32:38,610 --> 00:32:48,900 every trader is a losing trader. As soon as they click the execution, when a click to get into that market, they are a loser from the beginning, okay. And we
195 00:32:48,900 --> 00:32:57,870 all have to trade out of that losing position. And how well we're able to do that defines our longevity, and our career as a trader, treat the demo account,
196 00:32:57,930 --> 00:32:59,790 like it's your business equity.
197 00:33:04,260 --> 00:33:13,260 Alright, now it's time to be honest. Now, you've probably been playing with a $50,000 demo account, and he's over traded you over leveraged just to see what
198 00:33:13,260 --> 00:33:23,130 happens. Now, when you get these emotional charges from doing that, what it's doing is mentally reinforcing the depth the goal, you want to feel good about
199 00:33:23,130 --> 00:33:32,970 the trading. That's not how you develop as a trader, you want to remove the emotion, you don't want to have emotional attachment to the trades. Take the
200 00:33:32,970 --> 00:33:44,220 emotion out by keeping the leverage low. It's not about making a lot of money fast. It's about making consistent money over time. I promise you as we work
201 00:33:44,220 --> 00:33:54,000 towards the end goal here, you'll see very quickly that you only need a small amount of equity, a small amount of return and a lot of consistency and to do
202 00:33:54,000 --> 00:34:01,800 very, very well. And it doesn't take a whole lot of effort really or work to be consistent. But it does take a lot of patience, okay, and it's going to be a
203 00:34:01,800 --> 00:34:09,900 paradigm shift, it's going to be needed. Okay for some of you have that have already wasted a lot of time playing around in demo accounts. Okay, forget all
204 00:34:09,900 --> 00:34:17,880 that nonsense. You need to understand that this is going to be an expensive journey. You need to forget your ego, take all those things and leave it at the
205 00:34:17,880 --> 00:34:28,380 door. You are a new trader, you're a completely blank slate. And your demo account is representative of the decision making process that you are going to
206 00:34:28,500 --> 00:34:39,570 develop as a new trader, and how you interact with the marketplace based on the equity that you intend to trade with. And the leverage that's used with sound
207 00:34:39,720 --> 00:34:54,030 risk management and money management. Now, obviously, you've heard me say we're not trying to get rich quick, because in the beginning, you don't run, you learn
208 00:34:54,030 --> 00:35:03,840 to crawl. Then you learn to stand. Try not to fall down and when you do fall down, try not to get hurt. too badly. Then you walk and you walk briskly, and
209 00:35:03,840 --> 00:35:12,120 then you can run, then eventually you can sprint. But all too often everyone puts their money in the account and they sprint and they just quickly lose all
210 00:35:12,120 --> 00:35:20,250 their money. You don't need a whole lot of pips don't think that it's the that's the answer. Okay. I see a lot of guys that sell their wares on the internet
211 00:35:20,250 --> 00:35:31,590 that, you know, our system makes 20,000 pips a year, okay, I've made 80% accuracy with 80 80 million pips in the last five years. You don't need a lot of
212 00:35:31,590 --> 00:35:46,050 pips, okay? If you can consistently carve out a specific return a very low and return, okay, mind you, if you consistently do that and you manage your money
213 00:35:46,110 --> 00:35:55,410 appropriately, you're going to use the compounding effect, to build your equity over a period of time. And you don't need a whole lot of money, you don't need a
214 00:35:55,410 --> 00:36:06,000 lot of return, percentage wise. So discard whole that whole mentality that you need a whole lot of pips, discard the whole, I got to trade every single day.
215 00:36:06,030 --> 00:36:18,720 That's not that's not essential. Okay? What you need to be thinking is, I can do a very, very good career with less than several 100 pips per month. And I'm
216 00:36:18,720 --> 00:36:20,040 going to show you that as we go.
217 00:36:25,950 --> 00:36:36,240 Now, it's important that you stay rooted in the reality of who you are, as a trader, don't go into this with a development process, and when Shouldn't you
218 00:36:36,240 --> 00:36:46,800 start seeing consistency, don't let your head inflate, okay, you're not, you're not going to get anywhere by inviting ego as the same thing as emotion by having
219 00:36:46,800 --> 00:36:56,610 that come into your trading. And at the end of that development, okay, you're going to plague your development, you're gonna you're going to cause pitfalls,
220 00:36:56,880 --> 00:37:05,580 okay, that are just waiting to open up a swell you don't go into the forums and measure yourself against everyone else. Don't go in there bragging that you've
221 00:37:05,580 --> 00:37:14,610 been, you've been the superstar student, okay. And you've done x, y, z results with the information so that, you know, therefore, you know, you're better than
222 00:37:14,610 --> 00:37:23,790 everyone else. Okay? I'm not impressed by that. In fact, I'll shoot you down in private email or a pm if I see he's doing it. Okay. Because it's not beneficial
223 00:37:23,790 --> 00:37:31,110 to you. Nobody wants to hear it anyway. It doesn't make them feel good about themselves. It looks arrogant, it looks pompous. But more importantly, it's
224 00:37:31,110 --> 00:37:38,940 detrimental to your development, because you what you're doing is you're inflating your ego. You don't want that to happen. Okay? There, when you enter
225 00:37:38,940 --> 00:37:48,990 the marketplace, you are sheep every single time until you close the trade is a profit. Okay, and then that's what makes you a predator. That's when you leave
226 00:37:49,290 --> 00:37:59,100 the sheep level of the food chain, and you go up to the higher level where you're the apex predator. So you might think right now, okay, you might have the
227 00:37:59,100 --> 00:38:06,360 right stuff. But I promise you, if you have that mentality, and you're very egotistical, your tombstones already been carved out with your name in it,
228 00:38:06,390 --> 00:38:14,010 you're going to be in the traders graveyard, you will be in that graveyard of people that does their account, it's just going to be a matter of time, because
229 00:38:14,010 --> 00:38:20,040 you're inviting ego, you're inviting fear and greed and emotions are going to be responsible, okay for your downfall.
230 00:38:25,710 --> 00:38:35,460 Alright, I've already said it earlier, but you got to relax. It doesn't take much. Now I know. You probably hear a lot of guys talking about how many pips
231 00:38:35,490 --> 00:38:45,870 they've made over the last week or two or today or yesterday, or the last year.  Don't fall into that trap. Okay, don't fall in that trap. I'm going to show you
232 00:38:45,870 --> 00:38:56,730 how you can make less than 25 pips per week. And that's Yes, total for the whole week, risking no more than 2% you can more than double your account every single
233 00:38:56,730 --> 00:39:06,630 year. Now, how do you do that? All you have to do is earn a measly Oh 6% return per month. Now, some of us that have been around this business for a while are
234 00:39:06,630 --> 00:39:16,290 in speculation. 6% return is astronomical. Okay. But I know some of you aren't impressed by that. Because you're thinking, if I'm going to open up my account
235 00:39:16,290 --> 00:39:27,270 with $200 and I double it in a year, I'm only going to have $400 Plus I got to pay taxes on that money. Then the next year, my $400 is going to double to $800
236 00:39:27,360 --> 00:39:36,540 How am I going to get rich doing that? Well, it's not about thinking getting rich quick. I've already told you that. But if you are able to do this, if you
237 00:39:36,540 --> 00:39:50,790 think like this, if you have $1,000 of speculative capital, you allow time to do its work. making less than 25 pips, okay. It works out to be about 23 pips if
238 00:39:50,790 --> 00:40:01,710 you do the math. If you do that, okay and say you average 25 pips, you would be turning that $1,000 inside of 10 years. You have made over a million dollars
239 00:40:02,250 --> 00:40:13,320 doing this approach. Now I'm going to ask you something, do you see yourself 10 years from now? Okay? Having a million dollars doing what you do knowing what
240 00:40:13,320 --> 00:40:23,820 you know, going to the job that you go to work every single day? Do you see yourself having $1,000,000.10 years from now? If that's not true, okay, then you
241 00:40:23,820 --> 00:40:32,280 need to make some changes. Ask yourself this, say hit say you've been messing around with forex in the last couple of years and years never found any stride.
242 00:40:32,280 --> 00:40:42,840 You're just spinning your wheels. How can you feel good about what you've done with your time? Obviously, it's, it's demoralizing. And I know what that feels
243 00:40:42,840 --> 00:40:50,760 like. I've went through that I've done that not with forex, but with with futures trading, I got lucky going in initially, then I had to learn how to be a
244 00:40:50,760 --> 00:41:00,420 trader, okay, because I lost money. And then I had to forget a lot of things.  It's painful, that's painful. I could have made a whole lot more money than I
245 00:41:00,420 --> 00:41:11,340 have. Now. If I would have known the things I'm sharing with you right now for free. But ego got in my way. And then fear again, got in my way. And then
246 00:41:11,340 --> 00:41:23,490 desperation. And I was, you know, I was I went through every possible scenario.  But I want you to answer a question. If you've been a losing trader, I want to
247 00:41:23,490 --> 00:41:36,360 ask you, even if you only made five pips, okay? profit for the whole month, wouldn't it be better than you have right now. Now imagine if you slowly build
248 00:41:36,360 --> 00:41:46,920 it a point where you can consistently make 6% a month and you're doubling your money every year. Banks right now are paying less than a quarter percent. If you
249 00:41:46,920 --> 00:42:01,080 can get that for a whole year. And you can turn 100 pips a month with 2% risk, you're doubling your money every single year. That's phenomenal. If you did just
250 00:42:01,080 --> 00:42:16,650 3%. That's phenomenal. Okay, in terms of returns, you can carve out an amazing career, but it's going to take discipline, consistency, and time. If you haven't
251 00:42:16,650 --> 00:42:27,840 been consistently drawing, a return that's comparable to this. My question is this. How are you feeling now thinking that it only took this much in terms of
252 00:42:28,230 --> 00:42:37,680 return in terms of pips as well per month? To be able to who who account? Did you double your account last year? How about the year before that? How about are
253 00:42:37,680 --> 00:42:46,920 you on track this year to double your account. I'm not teaching that you have to dump your account guys on this stating that this is what you can expect, with
254 00:42:46,920 --> 00:42:50,700 very, very low expectations, and realistic returns in mind.
255 00:42:56,490 --> 00:43:08,880 Avoid the traders graveyard guys, I want to leave you with some really important points here as it relates to over trading and over leveraging. I've been a
256 00:43:08,880 --> 00:43:19,530 victim of this, in my trading as a futures trader, I know what it's like to just totally decimate your accounts. And the SSA accounts. I was plural. I've went
257 00:43:19,530 --> 00:43:31,770 through a lot of money, trying to do the get rich quick stuff. And even though I had a winning system, my over leveraging undermined it. And it caused me to get
258 00:43:31,770 --> 00:43:40,020 out of trades sooner than I should have, or hold on to with losing trades longer than I should have. And what would have been a minor loss became a huge loss.
259 00:43:40,260 --> 00:43:51,450 Okay. And that's what it's all about, you know, you got to keep your risk low.  Keep your over leveraging at bay don't overload your account. And you understand
260 00:43:51,540 --> 00:44:01,950 by the previous discussion we had about having 25 pips or less with 2% risk, that's 6% return per month compounded over the year, that's more than 100%
261 00:44:01,950 --> 00:44:11,940 return in your account. There's no rush for you to get rich, quick, okay.  doctors don't come out of med school right away making a million dollars, okay,
262 00:44:11,940 --> 00:44:20,790 they got to get their practice started. They got to grow into that field as well. But they're paying an arm and a leg, no pun intended for the education to
263 00:44:20,790 --> 00:44:30,150 get to be a practitioner of medicine, you are going to have to put that time in as well. And you can't avoid it. And you can't make shortcuts with overtrading
264 00:44:30,240 --> 00:44:42,750 and over leveraging. It never works. Trust me. Just don't do it. Now it doesn't require long hours. And they allow you guys think you got me in front your
265 00:44:42,750 --> 00:44:52,200 charts all the time. If you see this little picture. That was me. That was me as a new trader. Okay, I would work 13 hours a day that's spent on teen hours,
266 00:44:52,200 --> 00:45:03,750 okay, you know, throughout the week, looking at charts, and having very little sleep and then going back out and going to work again. So my biggest advice to
267 00:45:03,750 --> 00:45:13,380 you, if that's what you're thinking is Don't, don't think that. Okay, here's what I'd like you to do, I would like you to do another little study. And I want
268 00:45:13,380 --> 00:45:27,000 you to bracket out, one on your charts. Mark out seven in the morning, New York time, to 10 o'clock in the morning, New York time. And I want you to mark out
269 00:45:27,330 --> 00:45:38,340 two o'clock in the morning, New York time, and four o'clock in the morning, New York time, just those two little windows of time. And I want you to look at what
270 00:45:38,520 --> 00:45:49,920 takes place on a daily basis. And do that for a month, I want you to determine how much of a move took place and what time this moves began and when they ended
271 00:45:50,190 --> 00:46:01,590 each day. And I want you to understand that those three hours twice a day is all you need. And you only need one of those per day. Okay, you only need one of
272 00:46:01,590 --> 00:46:17,280 those per week. You only need one of those per month to make that 6%. If you do, you're leveraging your risk management and your trade selection properly. Now
273 00:46:17,280 --> 00:46:25,860 think about it. How does that contrast that what you think right now that you got to be trading every single day, every session, and you got to make a million
274 00:46:25,860 --> 00:46:33,360 pips Quickly, quickly, this is becoming much more reasonable and realistic, don't you think?
275 00:46:43,380 --> 00:46:53,070 Okay, let's look at a chart and discuss some of the things that are beneficial as a foundation, do some of my materials, and also give you something to really
276 00:46:53,070 --> 00:47:05,940 study on a daily basis when you're looking at your charts. It's probably something you may not have noticed if you're a new trader. But this chart
277 00:47:05,940 --> 00:47:16,290 actually gives you a whole lot of information just staring at the candlesticks themselves and the way price action moves within each swing. The pattern I'm
278 00:47:16,290 --> 00:47:26,880 going to show you now is very very important going forward, it's going to be referred to a lot in my material. And it's actually the framework for a lot of
279 00:47:26,880 --> 00:47:37,050 the price action analysis concepts that you're gonna learn through all the coursework that I'm presenting here, we're gonna be talking about swing points,
280 00:47:37,110 --> 00:47:53,640 okay, and swing points are really defined as such, we're going to show you this is one candle and to the left of it will be another candle, and to the right of
281 00:47:53,640 --> 00:48:07,800 that will be another. Okay, and this is a crude depiction of a swing high. Okay, swing highs delineated by a lower high on the left, and a lower high on the
282 00:48:07,800 --> 00:48:23,970 right, with a higher candle in the middle. Okay. And you probably guessed, a swing low is simply a low to has two higher lows surrounding it noise you have
283 00:48:23,970 --> 00:48:35,610 one higher low on the left, one higher low on the right. Okay. Sometimes when we are in technical circles, and we're discussing swing points, many times you'll
284 00:48:35,610 --> 00:48:43,230 hear a swing low represented by having something like this.
285 00:48:48,690 --> 00:49:02,070 Okay, and they, in other circles, the teacher or share ideas, they'll say that this is a swing low because it's qualified by having two higher lows on the
286 00:49:02,070 --> 00:49:17,190 right and two higher lows on the left. To me, as long as we have the three bar pattern here, that's sufficient enough for me. And if you are relying on the
287 00:49:17,190 --> 00:49:26,430 marketplace to give you that much time, the markets already really moved away from an ideal location down here for entry. Okay, so what I'm teaching you is
288 00:49:26,430 --> 00:49:37,110 I'm trying to train your eye to look at where swing points occur and how they form and how you can get very, very close to the reaction points where price is
289 00:49:37,110 --> 00:49:45,990 going to be moving aggressively up or down away from those particular price points. So now what you want to do is you want to pick i right now have an
290 00:49:45,990 --> 00:49:57,570 Australian USD h four or in other words, a chart comprised of each candle delineating four hours worth of time, okay, so in other words, every vertical
291 00:49:57,570 --> 00:50:07,260 line, or vertical candle, represent Four hours worth of time. Okay, so this is the highest high in that four hour period, and this is the lowest low in that
292 00:50:07,260 --> 00:50:14,130 four hour period. Okay? Now what I want you to do is when you go through your charts, okay, this could be in any timeframe, but I use the four hour simply
293 00:50:14,130 --> 00:50:21,660 because I like the four hour it can be used for day trading and can be used for swing trading, short term trading, even position trading, if you know what
294 00:50:21,660 --> 00:50:31,110 you're looking for in terms of higher level support resistance. But for now, what we're gonna look at is run, discuss the importance very briefly, and we're
295 00:50:31,110 --> 00:50:41,550 gonna build on this obviously, as we go along. But I want you to notice that you have a lower high to the left of this candle, and we have a lower high to the
296 00:50:41,550 --> 00:50:51,810 right of this candle. Okay, so that makes it this three bar pattern. In other words, this candle, this candle, and this candle, a swing high. Okay, so we're
297 00:50:51,810 --> 00:51:06,900 going to take that swing high, and we're going to look at to price points as it relates to this. Okay, see that what I've delineated here is the range from the
298 00:51:06,900 --> 00:51:18,270 highest high and the lowest low, that make up that entire three bar pattern.  Okay, see that, this is the lower of the three candles, if this candle in the
299 00:51:18,270 --> 00:51:27,120 middle was lower than this candle on the right of the three bar pattern, then I would have that level noted there, but the lowest. In other words, in terms of
300 00:51:27,120 --> 00:51:35,550 the total range between all three candles combined, where's the highest high, where's the lowest low, that's what we're looking for. Okay? You want to have
301 00:51:35,550 --> 00:51:44,850 this in your mind as you're looking at your charts. Now, you're going to see very quickly doing this, you could have a whole lot of lines on your chart, but
302 00:51:45,210 --> 00:51:53,250 the concept is what we're trying to arrive at. So that way, when you can clearly see the swing points on your chart, you won't need to have this many lines on
303 00:51:53,250 --> 00:52:05,580 your chart, okay. But this is one particular range that is influential, okay, to our price action analysis concepts. Okay, every price point between the high and
304 00:52:05,580 --> 00:52:15,270 low, okay, on each candle being the low, the high, the open and close of each candle is also a sensitive price point. Okay, but for now, we're just gonna
305 00:52:15,270 --> 00:52:27,600 identify the total range that makes up that swing high. The same thing occurs when we look at swing lows, okay, we have a swing low, here we have a low with a
306 00:52:27,750 --> 00:52:40,590 lower low and a higher low. Okay, see that, here's that three bar pattern. Okay, now we're going to do is we're going to delineate that. And then we're gonna use
307 00:52:40,590 --> 00:52:57,450 the high because it's this candle. Let's change the color of that just to differentiate. Okay, we're using the high candle here of the three bar pattern.
308 00:52:57,450 --> 00:53:09,570 So this is the highest of the range. And this candles low is the lowest. Okay?  Now watch what happens. Now we've delineated that range, okay, so we have a
309 00:53:09,570 --> 00:53:19,530 swing low and a swing high. Okay. So now what we're doing is we're, we're breaking the market down, and we're looking for potential reaction points. Okay.
310 00:53:19,980 --> 00:53:28,560 This swing low, you can see clearly, later in time, price came up to that same price level and look what happened. Did it stay there very long. Absolutely not.
311 00:53:28,920 --> 00:53:45,660 And the market repelled and went lower. Okay. So now, let's go back and go through some more examples. And we're going to ferret out another swing low.
312 00:53:51,540 --> 00:54:01,770 Okay. And what I've done is I've noted this swing low, so you have a candle with a low with a higher low on the left and a higher candle on the right. Okay, so
313 00:54:01,860 --> 00:54:14,220 off all three candles, okay, one has the low with a higher low on either side.  It's only taking three candles to do that. Okay. Now, you're probably asking why
314 00:54:14,220 --> 00:54:23,310 am I skipping over this little one here? Because this would be a swing low. Yes.  Well, it's because we're looking at this is a Sunday. Okay, so it kind of like,
315 00:54:23,730 --> 00:54:33,510 take that into interior equation. When you have these little, little tiny Sundays. I guess the general rule of thumb would be if we have a big range
316 00:54:33,540 --> 00:54:45,600 Sunday, then I would use it but if it's a real small little candle, usually it's typical of a Sunday. Dan, I won't factor that in. But for now, we're just gonna
317 00:54:45,600 --> 00:54:56,460 look for the most obvious swing points. Okay. So again, using the premise that we've already established, the candle highs and candles low. We have a swing low
318 00:54:56,460 --> 00:55:06,120 here. we've mapped up the highest point and the lowest point and you draw that out a little bit now. And obviously, you want to have these levels in mind,
319 00:55:06,210 --> 00:55:16,170 okay, as you look at your chart, okay, and again, going back to the the premise that if we put every single line that's available using this concept on your
320 00:55:16,170 --> 00:55:26,400 chart, you will quickly be inundated with so many levels, it would be it would be confusing to you, okay, but you'll see, after a period of time, you'll adopt
321 00:55:26,460 --> 00:55:38,070 an eye for price swings, and the ones that are going to be more useful to you will become obviously much more apparent as time goes on. Okay, but right now,
322 00:55:38,070 --> 00:55:48,360 in the beginning, you don't have that understanding, or the ability to see what you should be seeing, okay, and this is how you develop the eye for it. Okay. So
323 00:55:48,360 --> 00:56:00,690 we have the swing low here, movement up the highest high and the lowest low. We have a swing high here. Okay, we have swing low, we have no swing low in here.
324 00:56:00,780 --> 00:56:10,650 Okay, but look at what we've done here, we've, we've made this price point, just like this, okay? swing low, a higher, low and higher low on either side of it.
325 00:56:11,760 --> 00:56:22,260 Why would be? Why would we look at this level, and this level, when we're pretty much very close to it with this range already see that? Okay, so when price
326 00:56:22,260 --> 00:56:30,930 levels are very close like that, I just use the ones that are very clear. And this is a pretty important swing low versus this one. Okay, so this swing low is
327 00:56:30,930 --> 00:56:40,620 occurring inside of the range that's been established by this swing low here, guys from the low range low to the range high, this short term swing lows inside
328 00:56:40,620 --> 00:56:52,170 of that range. So This to me is going to be subordinate or less influential in terms of future prognostication. In terms of price action, this range is going
329 00:56:52,170 --> 00:57:03,210 to be much more significant later on. Okay, so now what we're, we're going to apply strength, okay. factors to which price points we use for swing highs and
330 00:57:03,210 --> 00:57:19,050 swing lows. Okay. So now we have a swing high. Okay. And we're going to use our different color. Just let me delineate that as well. Okay, and see what we have
331 00:57:19,050 --> 00:57:35,310 here. This big break down here, the lowest low in the three bar pattern. Okay, for the swing high, is this candle here? Okay, look at all the price trading
332 00:57:35,310 --> 00:57:43,710 that takes place around that price point. Okay, look at the open closings of these candles, look at the highs, the Dubai's of the candles in here, okay, you
333 00:57:43,710 --> 00:57:53,340 had some reaction in here as well later on. And that's all working within this dealing range between this low and this high. Okay, and again, what we're
334 00:57:53,340 --> 00:58:03,660 mapping out is the swing highs, extreme points, okay. And you can see, look at the body of the candle here, see, we wikked through the previous swing high
335 00:58:03,660 --> 00:58:11,970 here. Notice we didn't do a whole lot of trading there, the bodies of the candles were both below that. Okay, so these are, these are the building blocks,
336 00:58:12,030 --> 00:58:20,910 if you will, to understanding very, very advanced price action concepts that you're going to learn later on. But for now, what we're gonna be doing is
337 00:58:21,330 --> 00:58:31,020 getting you used to seeing the price swings, and swing highs and swing lows and mapping them out so that we can see future price sensitivity to those same
338 00:58:31,020 --> 00:58:40,890 particular levels. And by understanding what you're doing, by applying these concepts, you'll start to see and anticipate really, which is which, which is
339 00:58:40,890 --> 00:58:43,380 the powerful concept that you should be gleaning from this
340 00:58:44,670 --> 00:58:53,610 learning to anticipate price rejections once it trades these levels because if price was able to repel away from that particular level at a earlier time,
341 00:58:53,880 --> 00:59:09,450 chances are that probably we'll see that same effect happen at a later time.  Okay, so we have a swing high here, okay. And I'm going to show you the lows are
342 00:59:09,450 --> 00:59:20,400 pretty much equal right in here. Okay, this low and this low of the three bar pattern that makes the swing high up. We have price sensitivity right there,
343 00:59:20,520 --> 00:59:32,340 beautifully done beautifully. Okay, comes back up again. Okay, and it trades through this level and trades right back up into what level this sensitive
344 00:59:32,340 --> 00:59:48,810 level, okay? then it creates another swing high. Okay, see that. So now we're going to have low slow things over here a little bit. Confusion you too much. So
345 00:59:48,810 --> 00:59:55,890 we have a swing high in here. Okay, and the lowest low and just for completeness sake, again,
346 01:00:03,689 --> 01:00:12,209 Is it my show that but it is what it is ran to reveal it to get to the chart where I need it.
347 01:00:18,180 --> 01:00:32,070 Okay, so here is the, the higher that swing high, or that the extreme upper range of the high right here and the low. Okay, so we have this candle, this
348 01:00:32,070 --> 01:00:40,440 candle and this candle making this swing high, the lowest price point is right here. Okay, so inside these two price points, there should be future
349 01:00:40,440 --> 01:00:52,080 sensitivity, okay? Again, keying off of the open high low and close of the three bars, or three candles that make up the swing high and swing low. Okay, we have
350 01:00:52,110 --> 01:01:01,230 a swing low in here. And what we'll do is we'll mark that out.
351 01:01:06,570 --> 01:01:19,380 And the highest high inside the swing low between this candle, this candle and this candle, the highest high is here, and the lowest lows here. Okay, so we'll
352 01:01:19,380 --> 01:01:28,830 be looking for future sensitivity inside of that range. Okay, and you can see there was a very nice swing low formed here violated it just a little bit. Okay,
353 01:01:29,130 --> 01:01:36,930 and then what would it be for another swing low, notice we're not going to need to draw another line, because this level is already represented with this level
354 01:01:36,930 --> 01:01:50,100 back here, okay? In this high candle, okay, is already dealing with this range here. So see how this price swing is subordinate. Okay, inside of this swing
355 01:01:50,100 --> 01:02:00,570 low, so there's no necessity for us to fine tune any levels in here because it's already been pre determined with the range from this swing low. Okay, now we
356 01:02:00,570 --> 01:02:11,070 have this swing high, okay, see that we have a high, a higher high and a lower high. So we have high with to lower candles to either side of it. Okay, so
357 01:02:11,070 --> 01:02:24,660 making that three bar swing high pattern we like to look for. So when you see that, what we can do again is you take your your levels here and you draw that
358 01:02:28,740 --> 01:02:37,110 and what I'm doing is it's gathering this candle here because I really want to show the the very clean symmetry that's presented with this sample set in terms
359 01:02:37,110 --> 01:02:52,980 of price action. And looking at the lowest low it's this candle here because this is the lowest candle between all three candles of the sweet and high
360 01:02:52,980 --> 01:03:03,990 pattern. Okay, and let's just go forward a little bit we have a new swing low down here.
361 01:03:10,500 --> 01:03:27,180 So we have this low here and the highest high of the swing load pattern is right here. So here's the three bar pattern low Okay, the highest price point in three
362 01:03:27,750 --> 01:03:36,630 candles is this price point and lowest lows here okay and we're going to be looking for set price sensitivity going forward okay and now we have a unique
363 01:03:38,700 --> 01:03:54,810 opportunity okay to show you where price creates kind of like a muddy little swing point okay. See all these price points are basically the same okay. If you
364 01:03:54,810 --> 01:04:13,200 look very carefully you have price essentially trading almost at the same price point okay see that if you look real close this candles slightly higher than
365 01:04:13,200 --> 01:04:24,870 this one and this one okay. And again we have that same like Sunday phenomena I guess with these small little candles. So, when I have something like this, what
366 01:04:24,870 --> 01:04:36,600 I do is I look at the overall consolidation. Okay, I see the bodies in the wicks case Yeah, the wick is here, the body of the candle here the body of the candle
367 01:04:36,600 --> 01:04:51,120 here, below here, okay, when I see that, I will assume that price is still going to respect if you will, this swing low that we have the high range here. And
368 01:04:51,120 --> 01:05:03,660 also now this is a little small little trading range said this. To me, I would look for the bullish move up. Okay, now What's this, the candle that goes up,
369 01:05:03,990 --> 01:05:13,560 I'll have more weight on that. And we'll talk a lot more on that principle later on. But in this example, I would just simply refer to the bullish candle up in
370 01:05:13,560 --> 01:05:22,350 the cards. In other words, this is a White Candle there, the bullish candles as it represents in this example, and black candles are down, I would spend more
371 01:05:22,350 --> 01:05:29,370 emphasis looking at the low here. But again, going back to our principle that we already have a level that's already delineated next to that, so there's no
372 01:05:29,670 --> 01:05:43,980 essential need for us to draw a new level. Okay? So we've already dylaney delineated a specific price point for future sensitivity. Price comes up to that
373 01:05:43,980 --> 01:05:53,490 same level here creates a swing high. We have the lowest lows here, which has already been established with this level here, it says no necessity draw new
374 01:05:53,490 --> 01:06:07,140 line, we have a swing low here, with the highest of the three pattern here, very close to this level, again, no necessity to draw another level. And look at the
375 01:06:07,140 --> 01:06:22,500 price action. It's traded right off of that level. See that? See that right there? wonderful, beautiful representations of very classic price action. Give
376 01:06:22,500 --> 01:06:36,480 you some more data that does this show you how price had respected the previous levels and what had transpired from that price at price point. Can you see that?
377 01:06:40,230 --> 01:06:52,200 Alright, so now, when you look at your charts, you're going to be spending a lot of time searching for swing points, swing highs and swing lows. Okay, looking
378 01:06:52,200 --> 01:07:03,540 for levels inside of the ranges that create those swing highs and swing lows.  And you know, eventually spent a lot of time studying the sensitivity of future
379 01:07:03,540 --> 01:07:14,670 price action at the specific open, close high and low of each of the three bar pattern. In other words, we have these three candles here that make up this
380 01:07:14,670 --> 01:07:25,980 swing low here. Okay, we have an opening at this price point and the closes down here on this candle. We have an opening on this candle and a close here. We have
381 01:07:25,980 --> 01:07:36,150 an opening here on this candle and a close here. Okay. Remember I just told you the opening, the the highs, the lows and close of all three of those candles are
382 01:07:36,150 --> 01:07:48,000 sensitive. Okay, they're very, very key price points. Look at the closing price on this candle here. The highest price point of all three closes. Okay, let's go
383 01:07:48,000 --> 01:07:58,830 out in time. Look at what happens. Boom, look at the sensitivity right there.  Even though we had already leveled out this swing price point right here. Price
384 01:07:58,830 --> 01:08:04,860 stab through it, stat through it, step through it, step through it, look at the bodies of the candle, see how that was very, very
385 01:08:07,680 --> 01:08:17,730 well, staved off in terms of not being able to go lower. Yes, we whipped through within air price action, but look what the bulk of the trading was above that
386 01:08:17,730 --> 01:08:28,290 level. Okay, and just simply refer back to this closing price. And you can see that is very, very close to what was being referred to also look at the high of
387 01:08:28,290 --> 01:08:41,340 the very lowest candle to the high. Look at that go out in time. Boom. Okay, look at the high of this candle. Okay, boom. Okay, even this candle here came
388 01:08:41,340 --> 01:08:53,340 right back down to what this price point. Okay. So when you're sitting in front of computer and looking at charts, don't blindly to stare at them expecting a
389 01:08:53,340 --> 01:09:03,720 neon sign to tell you, hey, look, here's something to do, or the next trade, study how price has traded in the past. And I'll give you a whole lot of
390 01:09:03,720 --> 01:09:12,690 information. And it'll give you a lot of foundation that you need to be a price action trader and essentially, you know, putting you ahead of the pack if you
391 01:09:12,690 --> 01:09:19,050 will, and you'll be able to warm up a lot quicker to do more advanced concepts that we'll share as we go along.
392 01:09:24,960 --> 01:09:37,290 Now, above all, it's important to keep a balance in this don't become overly compulsive feeling. You have to be in the marketplace in charts and forums in my
393 01:09:37,290 --> 01:09:45,180 videos, okay. Your spouse wants to see you. Okay, and you should be wanting to see your spouse and your children as well. And your friends want to see you to
394 01:09:45,600 --> 01:09:54,690 get out there and make sure you have a life. Learning this stuff is fun. It's It's It's amazing. The rewards you get with it. But if you're not engaging the
395 01:09:54,690 --> 01:10:03,690 other parts of your life, you will be coming. You know it's an unhealthy relation. With the marketplace. So don't try to think because you got to spend a
396 01:10:03,690 --> 01:10:13,380 million hours of study in the charts in that and beginning it, you're not going to get yourself a shortcut. By doing that, yes, it's important to spend time
397 01:10:13,440 --> 01:10:22,800 again, my advice is to spend at least 30 minutes a day, looking at your charts.  doing the things that we talk about overtime, will give you skill set principles
398 01:10:22,800 --> 01:10:33,570 and, and drills and exercises to do they'll help you acquire certain price action understanding. But it's not important that you spend five or six hours a
399 01:10:33,570 --> 01:10:42,510 day I did all that stuff, okay. And yes, I eventually glean some things. But in the beginning, it was a lot of wasted time, because I just simply didn't know
400 01:10:42,510 --> 01:10:49,770 what I was looking for. Now I know what I'm looking for, how do I know? Now, what I would I should have been looking for, then my learning curve would have
401 01:10:49,770 --> 01:10:57,300 been greatly shortened. And that's my goal here with you guys. So don't try to skip to the front of the line, because you're not going to be the one that does
402 01:10:57,300 --> 01:11:07,770 it. And if you've been trading for a while, and you've been trying different things, and it hasn't been working out for you, I'm going to give you the real
403 01:11:07,770 --> 01:11:18,330 answer to it. It's not the system, and it's not going from one system to the next. This is not, the hand gets cold, go to the next best thing, you're going
404 01:11:18,330 --> 01:11:30,270 to quickly learn that you are the biggest enemy, you are the one that causes all these problems. And I know it sounds hard to swallow. But you're gonna have to
405 01:11:30,270 --> 01:11:40,680 admit it, no one else pulls the execution trigger, but you, no one else can do that. But you. So you're in charge of all these decisions. When you understand
406 01:11:40,680 --> 01:11:50,910 that, you're the one in the captain's chair, you're the You're the one at the helm, if you will, this sink, the ship either sinks or sales smoothly based on
407 01:11:50,910 --> 01:11:58,440 your decision making. Don't think that you got to go in here with a perfect system, you just need something that's going to consistently carve out a
408 01:11:58,440 --> 01:12:09,300 expected return. And then you maximize that edge or that return to get the outcome that you're looking for which is consistent, profitable, tip harvesting,
409 01:12:09,600 --> 01:12:18,720 that results in you being able to eventually move into a self sufficient lifestyle where all your living living expenses are acquired through your
410 01:12:18,720 --> 01:12:29,910 trading and your decisions making in the marketplace. Alright, so now what can we expect to learn going forward? Well, it's my intention, obviously, to share
411 01:12:29,910 --> 01:12:39,120 with you what I've learned over the last 20 plus years. Now, there's going to be a lot of mix of not just simply foreign exchange. But there's going to be a lot
412 01:12:39,120 --> 01:12:50,010 of commodity information I interweave with this because there's a lot of price action concepts that's complementary to the foreign exchange markets. I'm going
413 01:12:50,010 --> 01:12:57,720 to teach you how you can manage risk, and trades and how you can target consistency. I'm going to teach you specifically how to determine which
414 01:12:57,720 --> 01:13:10,560 direction to trade any pair. And I also spend time with exercises and drills and skill sets to help you time low risk and high reward entry points. You're going
415 01:13:10,560 --> 01:13:20,730 to learn how to project in advance high odds profit objectives, where to make your profits and how to take the profits. And I show you how well in advance
416 01:13:21,150 --> 01:13:29,610 when and where trades will form. A lot of questions I get a lot of email is they'll ask, you know, I want to know when to get in when to get out. Well,
417 01:13:29,610 --> 01:13:38,880 unless you understand how the trades are setting up the in and out isn't going to help you. I teach specifically how to attract Smart Money traders, like the
418 01:13:38,880 --> 01:13:47,850 banks, and you're gonna want to follow them. Now also, I'm going to give you a lot of tips on how to build your forex business that are completely unique to me
419 01:13:47,850 --> 01:13:58,770 and my material. So I want you to understand that this is my sincere hope. And it's my goal for you to be profitable, to be successful. And I want your success
420 01:13:58,770 --> 01:14:06,840 story I covered that. I want you to be able to be successful so that we I know you'll be able to move forward in life using this information to bless other
421 01:14:06,840 --> 01:14:07,320 people.
422 01:14:09,180 --> 01:14:19,020 When you do i'm not saying that you won't. Okay, I'm telling you that if you put the time into this, you will find success. The amount of success is going to be
423 01:14:19,020 --> 01:14:30,360 obviously dependent upon each individual trader and their development. But when you do, please share your story with me. That's all I'm asking for a simple
424 01:14:30,360 --> 01:14:42,510 thank you and what you're done for someone else, for your family for a complete, perfect stranger. What did you do to bless them? You may not be a person of
425 01:14:42,510 --> 01:14:54,150 faith may not believe in a God. But isn't it just nice to know that you did something very, very nice for someone else and not expect anything in return. I
426 01:14:54,150 --> 01:15:07,290 can't tell you the wonderful feeling that gives me doing things like this and I hope that you are passionate enough to return the currency that I'm exchanging.
427 01:15:08,190 --> 01:15:20,550 I'm giving you my life work just for story. And I want you to share that with me. And you can always reach me at inner circle trader@gmail.com or ICT at the
428 01:15:20,550 --> 01:15:29,010 inner circle trader calm and until I hear from you in the future, or when we talk again in next session. I wish you good luck and good trading.