ICT-WENT-01.srt
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ICT: Okay guys,
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what every new and or aspiring forex
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trader wants to know. Now before we get
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out, it's very important that you
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understand what I'm about to tell you.
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I'm not trying to be egotistical or
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arrogant about, but I know exactly what
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you're looking for. I've been trading
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for 20 years. It's over two decades
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worth of real world experience in the
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trading markets, and not just the Forex
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market. So I've been exposed really to a
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lot of the things you probably either
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just now getting interested in in terms
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of technical tools, or concepts and
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probably pretty much discarded it at
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least 80% of the things that you
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probably are trying to learn now for
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technical analysis. Simply because they
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do not work. It's my life's passion
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really, to acquire some of the most
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powerful trading concepts that are
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available to technical traders. And I've
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accumulated a pretty good toolbox over
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the years. And it's my pleasure now to
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share that with you.
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So you want to be a forex trader? Well,
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let's first congratulate you with that
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decision. Because I mean, this from the
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bottom of my heart, I think this is the
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absolute best asset class there is. And
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that flies in the face of one of my
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mentors, Larry Williams opinion of the
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Forex market. Larry Williams has his own
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record stating that the foreign exchange
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market is the worst place to be in and
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I've come to realize that's not entirely
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true. I believe That our mentors
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opinions are beneficial to us. But we
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are never to be locked in to one
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particular person's perspective. And
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that goes with me as well. So if I say
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something that does not resonate with
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you as a developing trader or someone
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that has experience, don't let that
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influence you in, not least seeking out
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that matter a little bit deeper. I
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simply don't like bollinger bands for
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instance, and you may acquire a taste
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for using that as a tool. So don't let
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my insights discourage you. Okay, from
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doing further research, I'm confident
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that even if you deviate from my
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material, you will come back to if
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you've sincerely given it a you know, a
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thorough going through once or twice.
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But I think this business is very, very
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beneficial. Okay, to small traders,
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because If you're trading in the stock
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market, how many shares of stock Can you
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buy of Apple right now, this did a four
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to one split, I think it was. Now it's
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like $90 a share at the time of this
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recording, but how many how many shares
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you're going to be able to buy if you
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have 1000 bucks, not many. And if you're
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trading a commodity market, okay, the
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initial margin on some of those
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particular asset classes are pretty
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hefty as well. Okay? So, and plus you're
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stuck inside of the, the futures
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contract specification. And, for
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instance, you know, if you're trading
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the currency, the British pound, okay,
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you're stuck trading, either the mid and
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contract or the new half of a full
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contract or you're trading the large
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contract. Okay, so you're kind of like
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forced to trade. One or the other in
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either one of them may not even fit your
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risk parameters that you would need
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based on The equity you and you fund
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your account with that doesn't occur in
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the foreign exchange market. When you're
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trading spot retail, you have the
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ability to tailor your trading based on
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your risk adversity. So now words if you
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are very, very conservative and you
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don't want to trade a whole lot in terms
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of risk, okay, you can gear your
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leveraging down to very, very small
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risk. Now you're not going to make a
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whole lot of money, okay, but you're not
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risking a whole lot either. And that's
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really where you should be at as a
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developing trader not focusing on how
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much money you can make. So there's a
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lot of rules that we're going to be
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putting on you Okay, and shaping your
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mindset as it as it were. Okay for a
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developing trader and how to build this
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into your business. But for now, okay,
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understand that this is an exciting
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adventure for you is something that you
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could do a very very good living Okay,
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exceptional living if, if you do develop
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accurately in terms of In the process of
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becoming a methodical trader, role based
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trader, and if you adopt a strong
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psychological profile for how your
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trading relates to neophytes, street
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traders, okay and really, if you're
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watching this video, you're probably in
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that category. And it's not to be
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offensive, we all start there, okay? But
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if you understand that you have to, you
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have to pitch a tent there for a little
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while, but don't move into that
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neighborhood you're going to eventually
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move out okay, and move into a
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developmental you know, process of
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developing into a professional trader.
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So, before we get into all of the
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specifics, let's go and look at some of
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the rules okay to building a solid
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foundation as a starting developing
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trader.
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Now, again, I don't mean this to be
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arrogant, but I know exactly What you're
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looking for, you're probably watching
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this video at your job. And or you just
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recently got off work and you're
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watching videos that has been shared by
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me and probably other people on the
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internet. And you're pretty much
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daydreaming about what it would be like
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to get out of the rat race. And I know
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exactly how that feels. I've had worked
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some of the most god awful positions in
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terms of the working class, and I am
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pretty much the definition of a working
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class hero. I was not going to stay in
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that industry, of being a slave, if you
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will, to demand i'm i've never been
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wired to be subordinate to anyone, not
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for a long period of time, if you will.
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I've always been rebellious in a lot of
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ways as relates to that. So I've been
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motivated to always find ways to you
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provide a means of financial support to
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myself and my family and not really be
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dependent upon, you know, the the guy
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that calls himself the boss over me. You
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need to call the shots. So I know
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exactly what you're thinking and what
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you're wanting to do. Okay? And even if
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you aren't being honest with yourself
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and me, okay, if we were in a room
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together, some of you may say, Well, I'm
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not really in this to, you know, to get
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rich, well, you're probably lying
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through your teeth, okay? Everybody
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wants more money, okay? And greed is
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bad. Okay, but it's understandable that
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you should want to be able to provide
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for your family, okay? And that's what
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I'm going to give you some skill sets to
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do. Okay, I can't promise you wealth.
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Okay, can you acquire wealth doing these
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things? Absolutely. But I can't promise
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everyone being able to do that because
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you're all going to develop on a
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different timeframes. And some of the
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skill sets that are going to be shared
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with you. It's going to have to require
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work on your part, and you may throw in
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the towel, you may get fresh And quit,
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you may require more time than others,
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okay? And it's gonna require your use of
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a demo account. And you probably have
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already utilized a demo account a few
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times now, you probably dusted it. Okay,
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now it's busted all the pretend money in
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the account. And I don't want you to
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think in that that's, you know, without
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consequence, there is absolute bad habit
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forming when you play around in the
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sandbox in a demo account, unless you're
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doing specific skill sets that are
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inherently designed for you to adopt a,
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a pain threshold, and then there's some
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of these skills we're going to be
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sharing, and drills and exercises. But I
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want you to understand that when you're
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in a demo account, you should be
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treating it like it's your business,
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okay? It's like it's your account. And
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don't open up a demo account with
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$50,000 or pretend money because you're
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most likely chances are never going to
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be opening up a forex retail account
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with $50,000. If he's never before. So,
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I don't want you thinking that, you
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know, the answers are going to be found
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in forums. I don't want you thinking
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that there's going to be this magic pill
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out there where you swallow and all of a
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sudden you're super trader, there's no
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specific method out there. That's
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perfect mind is not perfect. You're
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going to lose money doing the things
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that I do. Okay? But you're going to
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develop as a extremely precise trader,
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if you put the work into the tools I'm
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sharing and exercises and concepts. I
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don't want you thinking that you have to
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go into this trading every single pair
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that's not needed. Okay. You only need
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one real particular pair. You may like
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the Euro, you may like the Aussie US
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dollar. You might like the cable, okay,
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and
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it's really a personal preference.
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Whichever one you like, pursue it. trade
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it for a little while learn its
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characteristic But you don't need to be
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trading a whole lot of pairs. And don't
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think that you're going to be getting
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rich real quick, because that's why 90%
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if you believe the statistics that are
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shared with us, fail in this business,
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and it's not just forex, it's trading as
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a whole. Because everyone goes into it
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for the same reason. They want to quit
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their job this month, they want to do it
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with no money in the account $500
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they're going to be the next guy that
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retires and makes it to the front of
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futures magazine, or you trader magazine
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this month, okay. And they're going to
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be the centerfold. I don't want you to
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think in like that. Okay. And if you're
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playing a demo account, and you feel
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that warm, fuzzy feeling when you get a
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win on paper trades, don't buy into
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that, okay? There's chemical reactions
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that release in your brain when you when
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you see yourself being right. What
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you're teaching yourself, okay? You're
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teaching yourself that when you over
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leveraged with no plan, it might work
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out so therefore That's how you're going
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to make your money and that's how you're
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going to quit your job. And that's not
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how professional traders trade. That's
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not how Working Class Heroes come out of
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the rat race and leave that that slave
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mentality to be a self sufficient
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independent thinking, profit producing
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trader. Okay, debt equation neveri
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evolves to professional, consistent
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trader, okay, that is a gambler. That's
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the folks that go into account with live
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funds and dusted in 30 to 90 days. Okay,
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that's statistics. That's proof. That's
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what happens. And we're in the business
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of avoiding that. Okay. Every business
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goes into the beginning with the intent
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of making a profit. 80% of businesses go
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into it with no plan and they fail.
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Okay, so don't be surprised if that's
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how you go into forex trading. If you
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have no plan, and just playing around
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demo count, you think it's going to be
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like lottery. Okay? Don't watch these
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videos, okay. Because really You're
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wasting your time. And you're really,
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you're really doing a disservice to
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yourself and a certain measure of
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disrespect, because I'm putting a lot of
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emphasis on tools and concepts for you
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to be in, powered by, but not to be
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cherry pick, don't go through this
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material and pick out what you like, go
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through all of it. Now, there may be
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tools and concepts that don't resonate
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with you. But I have a couple of them
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for each stage of analysis. And you can
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find one that really resonates with you
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and run with that. But I don't want you
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to think in that you have to be getting
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rich quick. That's not what you need to
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be thinking here. And if you've been
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thinking like that, I want to ask you,
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where have you gotten with that mindset?
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You still working your job. You're
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probably more miserable now than you did
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before you found forex because it was
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one of those one more dead end
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opportunities. One more could have been
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but it's too good to be true type thing
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and I guarantee you By the time I'm done
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with you, you're going to realize that
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forex is not one of those things at all.
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Now know you've been thinking, and
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you're probably smiling right now. But
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think about it.
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You've been thinking about the
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likelihood of making your annual salary
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inside of a couple months, how well
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you're going to look amongst your
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friends, how well you're going to look
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amongst the opposite sex, maybe your
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spouse would be much more, you know,
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impressed with you, maybe your in laws
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will love you more. Okay, but the bottom
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line is, those things are external.
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Okay, those things are things that are
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gonna cause you to feel like you have to
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weigh your performance to be
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significant. And that's not what you're
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doing this for. Okay? You want to be
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trading as a business. I don't see fast
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food chains. Think about it. Like this,
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McDonald's, just about every person on
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every continent knows who Ronald
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McDonald is, even though they started
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their business, and they framed it with
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a foundation of a clown of all things to
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have as your mascot. Did they go in
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clowning around as a business, no way.
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They use that trademark image of a
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clown. But they're absolutely dead
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serious about making profits and man,
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they make profits, they do very, very
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well. That's how you should be thinking,
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you want to be thinking, How can I go
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forward as a business owner, okay, with
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no employees except for you. Okay? And
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you need to be going into this with that
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mindset thinking I'm going to be turning
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this into a future long term business.
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I'm going to be replacing my income with
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this very concept of extracting funds
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from the foreign exchange market. But
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it's going to come with work you He's
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going to have to come with a lot of
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effort. And it's going to be expensive.
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I don't charge money. But I promise you,
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I'm going to charge you time. Because I
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have to force patients and a lot of you.
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It was forced of me. That's how I
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learned. The best things come with
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adversity. And you're going to learn
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that your greatest lessons are going to
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come with pain, submit to the pain,
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submit to the adversity, and above all,
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submit the time, you're going to need to
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relinquish this necessity to being
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right. Because when you start looking at
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the right side of that chart, and not
362
00:15:40,199 --> 00:15:43,259
knowing what to anticipate or expect, if
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you haven't done the work with other
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skill sets and the drills that we're
365
00:15:46,529 --> 00:15:49,679
going to be doing, you won't have the
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foundation to rely on knowing what to
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anticipate. You're going to be reacting
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like everyone else does in the retail
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market and lose their shirts.
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Alright, forget what you think you know.
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Now, if you are one that likes to dabble
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in other people's methods and or
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00:16:13,140 --> 00:16:16,350
resources, and you like to blend, well,
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that ain't gonna work with me. Okay? So
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00:16:18,990 --> 00:16:20,490
it's going to require you to empty the
376
00:16:20,490 --> 00:16:24,000
glass, okay? or forget it all together.
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00:16:24,360 --> 00:16:26,190
Because if you come into my material and
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you want to cherry pick, you aren't
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00:16:27,720 --> 00:16:30,630
going to get the benefit of the full
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immersion that's required to get the
381
00:16:34,170 --> 00:16:37,080
macro view down to the micro view. Okay?
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And by having this willingness on your
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part to just simply let go of everything
384
00:16:42,270 --> 00:16:44,220
you think, you know, okay, and I
385
00:16:44,220 --> 00:16:48,420
understand it can be hard, okay, but I
386
00:16:48,420 --> 00:16:52,230
can't stress it enough that it took a
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00:16:52,230 --> 00:16:55,200
lot for me to undo a lot of the things I
388
00:16:55,200 --> 00:16:57,960
learned in the beginning, I thought I
389
00:16:58,170 --> 00:17:00,570
was really being taught Find some of the
390
00:17:00,570 --> 00:17:03,090
best traders in the world by buying
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00:17:03,090 --> 00:17:04,500
everyone's book out there, because if
392
00:17:04,500 --> 00:17:06,420
they read a book, obviously, they must
393
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know something that, you know, I don't?
394
00:17:08,160 --> 00:17:10,770
Well, what they did was, they knew I
395
00:17:10,770 --> 00:17:13,230
would be buying that book. And those
396
00:17:13,230 --> 00:17:14,640
particular people were making their
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00:17:14,640 --> 00:17:17,730
living off of buying new selling books,
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like, you know, I was there, their
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customer. And I'm confident that
400
00:17:21,990 --> 00:17:23,760
majority of those authors were never
401
00:17:23,760 --> 00:17:25,320
really successful traders or even trade
402
00:17:25,320 --> 00:17:27,990
the markets ever. And I've been to
403
00:17:27,990 --> 00:17:29,220
pretty much everything that's available
404
00:17:29,220 --> 00:17:31,500
out there. And I've pretty much seen
405
00:17:31,620 --> 00:17:33,450
everything there is as it relates to
406
00:17:33,450 --> 00:17:35,970
trading, not only on the retail level,
407
00:17:35,970 --> 00:17:37,590
but on the institutional level decide
408
00:17:37,590 --> 00:17:39,450
that most people aren't really privy to.
409
00:17:40,620 --> 00:17:42,750
I spent a lot of money for my education,
410
00:17:42,990 --> 00:17:45,390
much more than I should have. And I can
411
00:17:45,390 --> 00:17:47,400
tell you, the majority of it was a waste
412
00:17:47,400 --> 00:17:50,670
of money and time. A lot of lessons I
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00:17:50,670 --> 00:17:52,980
learned, and I did have a handful of
414
00:17:52,980 --> 00:17:55,230
mentors. No, no, don't get me wrong. And
415
00:17:55,230 --> 00:17:57,060
I have a video on the internet that
416
00:17:57,060 --> 00:17:59,550
discusses where I learned my materials
417
00:17:59,550 --> 00:18:01,890
from and How they inspired me to get
418
00:18:01,890 --> 00:18:03,480
some of the other insights I gleaned
419
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from just simply going to the
420
00:18:04,710 --> 00:18:07,500
marketplace on a daily basis looking for
421
00:18:07,500 --> 00:18:10,800
opportunities. But I have been through
422
00:18:10,830 --> 00:18:13,260
everything and digested everything
423
00:18:13,260 --> 00:18:14,850
that's pretty much available as it is
424
00:18:14,850 --> 00:18:16,950
now. And even still, to this day, I buy
425
00:18:17,160 --> 00:18:19,650
courses and books, simply because I have
426
00:18:19,650 --> 00:18:21,180
the resources to do it, too. I have the
427
00:18:21,180 --> 00:18:23,070
time to go through it. And three, I just
428
00:18:23,070 --> 00:18:25,140
want to see if there really is any truth
429
00:18:25,140 --> 00:18:26,880
to the scripture that says, There really
430
00:18:26,880 --> 00:18:28,920
is nothing new under the sun. And I can
431
00:18:28,920 --> 00:18:30,540
tell you, there really isn't anything
432
00:18:30,540 --> 00:18:32,850
new out there. It's just regurgitated,
433
00:18:33,210 --> 00:18:35,490
you know, for lack of a better word
434
00:18:35,490 --> 00:18:38,370
crap, okay, that hasn't worked, doesn't
435
00:18:38,370 --> 00:18:40,710
show any form of consistency. And it's
436
00:18:40,710 --> 00:18:42,870
the same old Carnival trick where they
437
00:18:42,870 --> 00:18:44,880
show things that look like they've
438
00:18:44,880 --> 00:18:46,620
worked on the left side of the chart,
439
00:18:46,890 --> 00:18:48,990
but the ability for you to find that on
440
00:18:48,990 --> 00:18:50,430
the right side of the chart is pretty
441
00:18:50,430 --> 00:18:52,560
much fleeting and far a few between.
442
00:18:53,940 --> 00:18:57,540
What I have discovered is that because
443
00:18:57,540 --> 00:18:59,580
everyone's drinking from that same well
444
00:19:00,000 --> 00:19:03,750
water sources tainted. And it wasn't
445
00:19:03,750 --> 00:19:06,270
until I took a step back and more or
446
00:19:06,270 --> 00:19:08,850
less, looked at everything backwards,
447
00:19:09,120 --> 00:19:11,610
everything became much more clear. And
448
00:19:11,610 --> 00:19:14,040
it was further confirmed when I got
449
00:19:14,040 --> 00:19:15,930
involved with folks that were much, much
450
00:19:15,930 --> 00:19:19,950
more knowledgeable than I am. And they
451
00:19:19,980 --> 00:19:23,460
pretty much tapped me into a perspective
452
00:19:23,490 --> 00:19:24,930
and looking at the marketplace. It's
453
00:19:24,930 --> 00:19:27,570
completely and utterly unique. If you
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00:19:27,570 --> 00:19:28,710
look at the books, they all tell us
455
00:19:28,710 --> 00:19:30,570
where to put our stop loss. And they all
456
00:19:30,570 --> 00:19:32,640
tell us when to buy and sell. But that's
457
00:19:32,640 --> 00:19:34,530
exactly where everyone puts their trades
458
00:19:34,530 --> 00:19:37,200
on and loses. Think about it. If that's
459
00:19:37,200 --> 00:19:39,840
the case, why are we doing that? Because
460
00:19:39,840 --> 00:19:42,150
you're being trained like a good sheep
461
00:19:42,810 --> 00:19:45,270
to go out and get slaughtered. Think
462
00:19:45,270 --> 00:19:47,280
about it. That's what's been going on
463
00:19:47,280 --> 00:19:49,770
all along. But nobody is willing to
464
00:19:49,770 --> 00:19:52,890
admit what's been set up all along. You
465
00:19:52,890 --> 00:19:56,100
are being programmed to lose money. It's
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00:19:56,100 --> 00:20:00,810
my goal to really shock you Because I
467
00:20:00,810 --> 00:20:02,490
don't want you going into thinking that
468
00:20:02,490 --> 00:20:04,680
this business was created, okay for you
469
00:20:04,680 --> 00:20:06,090
to come in and make money. It's not.
470
00:20:06,600 --> 00:20:07,980
This was not designed for you to come in
471
00:20:07,980 --> 00:20:11,130
and make money. This is a playground for
472
00:20:11,130 --> 00:20:14,220
the banks, and you are sheep for the
473
00:20:14,220 --> 00:20:16,440
slaughter. If you understand how the
474
00:20:16,440 --> 00:20:18,990
banks operate, how the dealers operate,
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00:20:19,050 --> 00:20:20,790
how the market makers manipulate the
476
00:20:20,790 --> 00:20:23,190
marketplace, you can ride on their
477
00:20:23,190 --> 00:20:25,890
coattails. But I don't want you thinking
478
00:20:26,220 --> 00:20:28,380
simply because you've read a book, or
479
00:20:28,380 --> 00:20:30,090
you bought a course or you went to a
480
00:20:30,090 --> 00:20:31,860
workshop or you went to a seminar, I
481
00:20:31,860 --> 00:20:33,720
don't care how much you paid for it, how
482
00:20:33,720 --> 00:20:36,870
good the mentors are. Don't think that
483
00:20:36,870 --> 00:20:38,760
that's all you're going to require to go
484
00:20:38,760 --> 00:20:40,770
in here and start making money. You need
485
00:20:40,770 --> 00:20:42,630
to have a little bit more information
486
00:20:42,660 --> 00:20:44,610
and sometimes a peek behind the curtain.
487
00:20:45,210 --> 00:20:46,980
And I'm pretty much the only one in the
488
00:20:46,980 --> 00:20:48,390
internet that really breaks it down in
489
00:20:48,390 --> 00:20:51,120
such a way where a it does sound like
490
00:20:51,120 --> 00:20:53,190
conspiracy theory, but to I can back it
491
00:20:53,190 --> 00:20:56,700
up with how the price moves, how, why it
492
00:20:56,700 --> 00:20:58,710
moves when it moves, and how
493
00:20:58,710 --> 00:21:01,440
consistently if You know, it occurs. And
494
00:21:01,440 --> 00:21:06,450
I've developed concepts to more or less
495
00:21:06,450 --> 00:21:08,880
methodically explain how those
496
00:21:08,880 --> 00:21:12,450
individual components are stage by stage
497
00:21:12,450 --> 00:21:15,000
by stage step by step, how they unfold,
498
00:21:15,000 --> 00:21:17,640
what sets it up, why it's unfolding. And
499
00:21:17,640 --> 00:21:19,440
it really, when people are watching my
500
00:21:19,440 --> 00:21:21,060
videos and some of my analysis concepts
501
00:21:21,060 --> 00:21:23,910
that are before the fact, it blows them
502
00:21:23,910 --> 00:21:25,260
away, and I don't mean again, I'm not
503
00:21:25,260 --> 00:21:27,090
trying to be pompous. But it's just
504
00:21:27,150 --> 00:21:29,730
that's the shock value. When you
505
00:21:29,730 --> 00:21:32,310
understand how the markets trade, when
506
00:21:32,310 --> 00:21:33,540
you are involved with someone that
507
00:21:33,540 --> 00:21:35,400
really knows what goes on behind the
508
00:21:35,400 --> 00:21:38,250
scenes, if you will. It's very, very
509
00:21:38,250 --> 00:21:39,930
exciting when you see the things that
510
00:21:39,930 --> 00:21:44,700
are discussed as probable reactions or
511
00:21:44,700 --> 00:21:47,040
expectations and it unfolds to the tee.
512
00:21:47,460 --> 00:21:49,140
It's very impressive to neophyte and
513
00:21:49,140 --> 00:21:52,080
layman's and sometimes to even traders
514
00:21:52,080 --> 00:21:53,730
that have been around for a while, the
515
00:21:53,730 --> 00:21:55,650
level of precision that are that's
516
00:21:55,650 --> 00:21:57,600
acquired, okay with these skill sets.
517
00:21:57,780 --> 00:22:00,780
It's again equally if not more
518
00:22:00,840 --> 00:22:02,310
impressive to those because they
519
00:22:02,310 --> 00:22:03,750
understand how hard it is for them to,
520
00:22:03,960 --> 00:22:06,630
to, to, to pull money out of the
521
00:22:06,630 --> 00:22:08,580
marketplace. As a new trader, you really
522
00:22:08,580 --> 00:22:10,170
don't know that you think it's like
523
00:22:10,170 --> 00:22:11,340
going out and pulling an apple off the
524
00:22:11,340 --> 00:22:13,470
tree. Okay, or pulling, you know, a
525
00:22:13,500 --> 00:22:15,300
stack of 50 out of the money tree you
526
00:22:15,300 --> 00:22:17,190
think is existing in the Forex market.
527
00:22:18,060 --> 00:22:20,820
You're just seeing through roast, rose
528
00:22:20,820 --> 00:22:22,830
colored glasses, everything looks the
529
00:22:22,830 --> 00:22:24,600
same to you and it looks like you know,
530
00:22:24,630 --> 00:22:28,260
easy money. If you don't have a plan, I
531
00:22:28,260 --> 00:22:30,060
guarantee it's gonna be a nightmare for
532
00:22:30,060 --> 00:22:31,830
you. Okay, and we're going to build on
533
00:22:31,830 --> 00:22:33,390
that as we go. But I want you to
534
00:22:33,390 --> 00:22:35,250
understand right now where you're at on
535
00:22:35,250 --> 00:22:36,900
the food chain and how you're going to
536
00:22:36,900 --> 00:22:38,280
be able to move yourself from being
537
00:22:38,280 --> 00:22:44,760
sheep to a predator. Okay, and now
538
00:22:44,760 --> 00:22:46,380
officially, I want to welcome you to
539
00:22:46,380 --> 00:22:48,420
your new beginning because we are about
540
00:22:48,420 --> 00:22:51,810
to set some ground rules for you. And I
541
00:22:51,810 --> 00:22:54,570
understand that we as human beings don't
542
00:22:54,570 --> 00:22:57,720
necessarily like rules and if you look
543
00:22:57,720 --> 00:23:00,810
at the signs that put on To your next
544
00:23:00,810 --> 00:23:02,940
door neighbor's lawn, they'll say please
545
00:23:02,940 --> 00:23:04,350
don't walk on our lawn, and you're
546
00:23:04,350 --> 00:23:05,730
walking your dog and what do you want to
547
00:23:05,730 --> 00:23:07,590
do? You want your dog to go walk across
548
00:23:07,590 --> 00:23:09,540
the lawn, or you want to step on that
549
00:23:09,540 --> 00:23:11,400
lawn inherently, that's our nature. We
550
00:23:11,400 --> 00:23:12,570
want to do the very things we're not
551
00:23:12,570 --> 00:23:15,810
supposed to do. Okay? I want you to
552
00:23:15,810 --> 00:23:19,260
leave your ego at the door. Okay? Don't
553
00:23:19,680 --> 00:23:22,440
Don't judge me. Don't judge the material
554
00:23:22,440 --> 00:23:25,440
until you've gone through it. And don't
555
00:23:25,440 --> 00:23:27,510
think that you're something that you
556
00:23:27,510 --> 00:23:30,780
really aren't. Okay? I'm not impressed
557
00:23:30,780 --> 00:23:32,640
by people sending me an email saying
558
00:23:32,640 --> 00:23:34,560
that they've been trading for x y years.
559
00:23:34,980 --> 00:23:39,480
And they've been doing XYZ of trading
560
00:23:39,480 --> 00:23:40,980
method and it does this and it does
561
00:23:40,980 --> 00:23:41,340
that.
562
00:23:42,810 --> 00:23:44,280
I'm not interested in if you if you're
563
00:23:44,280 --> 00:23:47,460
that type of person. Okay. Again, I'm
564
00:23:47,460 --> 00:23:49,050
not in this for you to teach me
565
00:23:49,050 --> 00:23:51,390
anything. Okay. I'm in the business of
566
00:23:51,540 --> 00:23:54,120
sharing my experience with you. And it's
567
00:23:54,150 --> 00:23:55,920
because is going to be an exchange
568
00:23:55,920 --> 00:23:58,470
hopefully in time. I want your story. I
569
00:23:58,470 --> 00:24:00,450
want your success story. I want you to
570
00:24:00,450 --> 00:24:02,370
share it with me. That's why I share my
571
00:24:02,430 --> 00:24:05,130
real email addresses with you. I spent a
572
00:24:05,130 --> 00:24:06,780
lot of time because my interest is
573
00:24:06,780 --> 00:24:11,040
really pegged to what you do with this
574
00:24:11,040 --> 00:24:13,020
information. And I want you to be a
575
00:24:13,020 --> 00:24:14,580
blessing to someone else in the future.
576
00:24:14,790 --> 00:24:16,350
I don't want any money from you. I'm not
577
00:24:16,350 --> 00:24:18,960
charging any any subscription fees are
578
00:24:18,960 --> 00:24:21,030
any, I'm not selling you. webinars and
579
00:24:21,030 --> 00:24:23,100
seminars and books and all this. I'm not
580
00:24:23,100 --> 00:24:25,290
doing those things. What I'm doing is
581
00:24:25,290 --> 00:24:28,500
I'm exchanging a relationship for a
582
00:24:28,500 --> 00:24:31,770
future reward. That's what I want. I
583
00:24:31,770 --> 00:24:33,240
want to know what you did with this
584
00:24:33,240 --> 00:24:35,280
information to help someone else it may
585
00:24:35,280 --> 00:24:37,470
be helped them buy a house, it may be
586
00:24:37,980 --> 00:24:39,600
you buy them groceries, it may be
587
00:24:39,840 --> 00:24:41,940
helping someone that lost the job get
588
00:24:41,970 --> 00:24:44,880
you reestablished, okay, or it may be
589
00:24:44,880 --> 00:24:49,260
just, you know, giving to a charity and
590
00:24:49,260 --> 00:24:51,630
helping you know, someone that's less
591
00:24:51,630 --> 00:24:54,480
fortunate than you are. Okay, and in
592
00:24:54,540 --> 00:24:56,550
that, to me is what we've been placed on
593
00:24:56,550 --> 00:24:59,490
this earth for to help our neighbors
594
00:24:59,700 --> 00:25:03,330
okay. and treat everyone like they're
595
00:25:03,330 --> 00:25:05,520
our family. And that's that's the motive
596
00:25:05,520 --> 00:25:07,230
for me doing all this. Okay, I get
597
00:25:07,230 --> 00:25:08,580
questions all the time. Why am I doing
598
00:25:08,580 --> 00:25:10,080
this? Why am I spending so much time
599
00:25:10,500 --> 00:25:12,570
doing these things without any monetary
600
00:25:12,570 --> 00:25:17,550
exchange, I get more return with thank
601
00:25:17,550 --> 00:25:19,050
yous, because that's really all I'm
602
00:25:19,050 --> 00:25:20,700
looking for is the thank you and the
603
00:25:20,700 --> 00:25:23,580
future story of your success. I get more
604
00:25:23,580 --> 00:25:25,410
from that than you could ever do. Give
605
00:25:25,410 --> 00:25:28,380
me money. I don't need your money. I
606
00:25:28,380 --> 00:25:30,990
don't want your money, your your story
607
00:25:31,020 --> 00:25:33,270
and your inspiration, okay, that you
608
00:25:33,270 --> 00:25:35,670
share with me and I've had a lot of
609
00:25:35,670 --> 00:25:37,440
individuals Give me that over the last
610
00:25:37,890 --> 00:25:42,060
17 years of teaching. Okay. I've had a
611
00:25:42,060 --> 00:25:43,710
lot of relationships on the internet.
612
00:25:43,920 --> 00:25:46,500
And many times I'm brought to tears with
613
00:25:46,530 --> 00:25:53,040
the you the sheer inspiration that has
614
00:25:53,580 --> 00:25:56,310
been given to me by those that have done
615
00:25:56,340 --> 00:25:57,810
the things I was hoping they would do
616
00:25:57,810 --> 00:25:59,880
with this information. And I guess, I
617
00:25:59,880 --> 00:26:01,260
think seen some people go out and try to
618
00:26:01,260 --> 00:26:04,110
put it in, insert into things and sell
619
00:26:04,110 --> 00:26:07,260
it. And when I find out who they are, I
620
00:26:07,260 --> 00:26:08,820
go in and I try to tear down their,
621
00:26:09,000 --> 00:26:10,710
their business model because I'll make
622
00:26:10,710 --> 00:26:13,140
available, you know my time and tear
623
00:26:13,140 --> 00:26:15,870
down their, their, their their business
624
00:26:15,870 --> 00:26:17,790
plan to try to take what I give away for
625
00:26:17,790 --> 00:26:21,660
free, I go out and I more or less cut
626
00:26:21,660 --> 00:26:24,360
your throat to do it for free, and take
627
00:26:24,360 --> 00:26:26,040
away their paying subscribers and just
628
00:26:26,400 --> 00:26:29,730
welcome him into our fold as as you
629
00:26:29,730 --> 00:26:32,700
know, free members, there's no there's
630
00:26:32,700 --> 00:26:34,920
no charging of anything with me. And I
631
00:26:34,920 --> 00:26:36,240
don't again because I don't need your
632
00:26:36,240 --> 00:26:38,730
money. And I'm thankful for all those
633
00:26:38,730 --> 00:26:41,490
that take part in the currency that I've
634
00:26:41,490 --> 00:26:43,860
adopted for doing this, which is your
635
00:26:43,980 --> 00:26:46,680
thank yous and your stories of
636
00:26:46,740 --> 00:26:48,210
inspiration which you've done with the
637
00:26:48,210 --> 00:26:52,560
information. But there's something I
638
00:26:52,560 --> 00:26:54,900
want us all to understand going into
639
00:26:54,900 --> 00:26:56,880
this as a trader. It's going to be
640
00:26:56,880 --> 00:26:58,320
important to understand what type of
641
00:26:58,320 --> 00:27:00,600
trader you are and as trying to come up
642
00:27:00,630 --> 00:27:03,300
with some understanding of some internal
643
00:27:03,300 --> 00:27:05,580
dialogue, you need to ask yourself a lot
644
00:27:05,580 --> 00:27:07,740
of questions that are specific to
645
00:27:08,010 --> 00:27:10,740
developing traders. Okay. Are you
646
00:27:10,740 --> 00:27:13,110
someone that procrastinates? Okay, do
647
00:27:13,110 --> 00:27:14,850
you change your mind a lot? Does it take
648
00:27:14,850 --> 00:27:17,250
very little to change your mind? If you
649
00:27:17,460 --> 00:27:21,510
think like that, that tells you a
650
00:27:21,510 --> 00:27:24,660
specific profile of trading is going to
651
00:27:24,660 --> 00:27:28,170
suit you better than another real quick
652
00:27:28,170 --> 00:27:30,630
decision making? Are you an irritable
653
00:27:30,630 --> 00:27:33,750
person that flies off the handle real
654
00:27:33,750 --> 00:27:36,540
quick, you would be excellent scalper or
655
00:27:36,540 --> 00:27:38,850
day trader because you can see these
656
00:27:38,850 --> 00:27:40,530
minor reactions in the marketplace and
657
00:27:40,530 --> 00:27:43,290
make a decision based on that. Okay. If
658
00:27:43,290 --> 00:27:45,510
you are very slow to make a decision,
659
00:27:45,510 --> 00:27:48,480
you ponder a lot. It takes a lot of you
660
00:27:48,480 --> 00:27:51,480
know, it takes a whole lot of influence
661
00:27:51,810 --> 00:27:53,760
for you to make a decision and change
662
00:27:53,760 --> 00:27:55,140
your mind about something. You're a
663
00:27:55,140 --> 00:27:57,300
wonderful position trader, long term
664
00:27:57,300 --> 00:28:00,210
trader if you're pretty much 100 happy
665
00:28:00,210 --> 00:28:02,760
go lucky guy and or Gao and you're
666
00:28:02,760 --> 00:28:04,830
pretty much you go with the flow, you
667
00:28:04,830 --> 00:28:07,890
could be a very good swing trader. Don't
668
00:28:08,430 --> 00:28:11,580
underestimate the power of doing this
669
00:28:11,610 --> 00:28:13,740
personal study and I'm encouraging you
670
00:28:13,740 --> 00:28:15,540
to do this for a week, spend some time
671
00:28:15,540 --> 00:28:16,980
about some of the things you think about
672
00:28:16,980 --> 00:28:18,510
how you react with your family, your
673
00:28:18,510 --> 00:28:22,050
spouse, your co workers, okay? How do
674
00:28:22,050 --> 00:28:25,170
you feel about you know, all the things
675
00:28:25,170 --> 00:28:27,660
that you engage on a daily basis and the
676
00:28:27,660 --> 00:28:29,670
decision making process that you use to
677
00:28:29,670 --> 00:28:31,320
go along throughout your day? Are you
678
00:28:31,320 --> 00:28:34,230
quick, are you slow, okay, are you
679
00:28:34,230 --> 00:28:36,510
pretty much even tempered, and you
680
00:28:36,510 --> 00:28:37,500
pretty much can go
681
00:28:38,760 --> 00:28:40,710
in any environment and not really fly
682
00:28:40,710 --> 00:28:43,350
off the handle and not really get too
683
00:28:43,350 --> 00:28:45,780
lethargic about making the decision. If
684
00:28:45,780 --> 00:28:48,120
you are really balanced, that type of
685
00:28:48,120 --> 00:28:51,000
trader is, in my opinion, the best
686
00:28:51,150 --> 00:28:53,760
because he can or she can position
687
00:28:53,760 --> 00:28:56,220
trade, swing trade, short term trade day
688
00:28:56,220 --> 00:28:58,290
trade and scalp, okay? And that's really
689
00:28:58,290 --> 00:29:00,810
where we want to get to If you are an
690
00:29:00,810 --> 00:29:02,850
erratic short term thinker, you could
691
00:29:02,850 --> 00:29:04,620
start off as a scalper and a trader, but
692
00:29:04,620 --> 00:29:07,080
eventually develop into that balanced
693
00:29:07,080 --> 00:29:08,280
trader where you can trade all
694
00:29:08,340 --> 00:29:10,200
timeframes. And the same thing about
695
00:29:10,410 --> 00:29:13,530
that slow pondering decision making long
696
00:29:13,530 --> 00:29:16,140
term trader, we can give you skill sets
697
00:29:16,140 --> 00:29:17,790
to move you closer to a more balanced
698
00:29:17,790 --> 00:29:19,290
way of thinking where you can change
699
00:29:19,440 --> 00:29:21,720
your mind a little bit shorter term and
700
00:29:21,720 --> 00:29:24,210
not have to require so much in terms of
701
00:29:25,560 --> 00:29:27,720
influence to decide whether or not you
702
00:29:27,720 --> 00:29:28,650
will be buyer seller.
703
00:29:33,930 --> 00:29:36,750
Now, we're going to be requiring you to
704
00:29:36,750 --> 00:29:39,360
utilize a demo account, and I don't want
705
00:29:39,360 --> 00:29:43,770
you to misrepresent the concepts, okay,
706
00:29:43,770 --> 00:29:48,630
and share, you know, results that I'm
707
00:29:48,630 --> 00:29:50,940
not going to be impressed by. Okay. The
708
00:29:50,940 --> 00:29:53,250
demo account trading is not for you to
709
00:29:53,250 --> 00:29:55,260
send me pictures or screenshots to say,
710
00:29:55,260 --> 00:29:57,720
Look, I've made this much money on paper
711
00:29:57,720 --> 00:29:59,280
money, okay, where I made this many
712
00:29:59,280 --> 00:30:01,980
pips. Your demo account is simply for
713
00:30:01,980 --> 00:30:04,770
you to look at. Nobody is supposed to be
714
00:30:04,770 --> 00:30:06,030
looking over your shoulder right now,
715
00:30:06,180 --> 00:30:07,710
unless it's your spouse or your business
716
00:30:07,710 --> 00:30:08,730
partner that you're going to be going
717
00:30:08,730 --> 00:30:09,960
into business with later on down the
718
00:30:09,960 --> 00:30:11,400
road, if you don't have enough money to
719
00:30:11,400 --> 00:30:14,970
go into this with my funds, but I don't
720
00:30:14,970 --> 00:30:18,690
want you also to going into a demo
721
00:30:18,690 --> 00:30:20,400
account with more money than you intend
722
00:30:20,400 --> 00:30:23,070
to trade with. Okay. And that may be a
723
00:30:23,070 --> 00:30:25,230
little bit of a constraint because some
724
00:30:25,230 --> 00:30:27,810
of you may have less than $5,000 that
725
00:30:27,810 --> 00:30:30,990
you you intend to trade with. In that
726
00:30:30,990 --> 00:30:33,480
case, there's a lot of demo accounts,
727
00:30:33,480 --> 00:30:35,850
you can open up with 5000. If that's the
728
00:30:35,850 --> 00:30:37,980
case, whatever your demo account
729
00:30:37,980 --> 00:30:40,830
balances when you open it up, only trade
730
00:30:40,830 --> 00:30:42,510
with the leverage that you would be able
731
00:30:42,510 --> 00:30:45,360
to trade with using the operating x.
732
00:30:46,080 --> 00:30:47,730
Equity you would have now which if you
733
00:30:47,730 --> 00:30:49,890
only have $1,000, then that's all you
734
00:30:49,890 --> 00:30:52,530
use, regardless of how much free margin
735
00:30:52,530 --> 00:30:54,480
you have. In that demo account. You're
736
00:30:54,480 --> 00:30:55,920
not teaching yourself anything except
737
00:30:55,920 --> 00:30:57,750
for bad habits by over leveraging or
738
00:30:57,750 --> 00:30:59,280
doing things that you wouldn't be doing
739
00:30:59,580 --> 00:31:01,320
with the money. You plan to fund your
740
00:31:01,320 --> 00:31:04,470
Live account with over time. Do not
741
00:31:05,370 --> 00:31:08,070
underestimate the power of making bad
742
00:31:08,070 --> 00:31:10,380
habits form with demo account trading.
743
00:31:10,680 --> 00:31:13,530
Okay, demo account trading is given to
744
00:31:13,530 --> 00:31:17,070
you as a free tool by brokers. Now, I
745
00:31:17,070 --> 00:31:18,810
want you to think about this, why would
746
00:31:18,810 --> 00:31:23,130
they do that? Because if you went into
747
00:31:23,130 --> 00:31:28,500
this with real, real live funds, with no
748
00:31:28,500 --> 00:31:29,580
understand what you're doing, you'd lose
749
00:31:29,580 --> 00:31:32,070
your mind right away. And you would, you
750
00:31:32,070 --> 00:31:33,240
wouldn't feel good about none of it.
751
00:31:33,390 --> 00:31:35,130
Okay? Or your first losing trade, you
752
00:31:35,130 --> 00:31:37,170
would close your your trading, your
753
00:31:37,170 --> 00:31:39,120
trading can't be done with it. What
754
00:31:39,120 --> 00:31:41,010
happens is they give you a demo account,
755
00:31:41,730 --> 00:31:43,320
and you play around with a demo account
756
00:31:43,320 --> 00:31:44,580
you over leveraged, you take a million
757
00:31:44,580 --> 00:31:47,220
trades in one day, and your mind is only
758
00:31:47,220 --> 00:31:49,440
going to focus on one two good ones, the
759
00:31:49,440 --> 00:31:51,180
winning trades, and it's just like
760
00:31:51,210 --> 00:31:54,420
anything else a casino, everyone Oh,
761
00:31:54,510 --> 00:31:57,270
everyone knows that 90% of people to go
762
00:31:57,270 --> 00:31:59,610
into a casino loser money. So why do
763
00:31:59,610 --> 00:32:01,650
people go The casinos by the busloads
764
00:32:01,650 --> 00:32:03,240
they fly out to Vegas, they fly out to
765
00:32:03,240 --> 00:32:05,520
Atlantic City, they go, you know, around
766
00:32:05,520 --> 00:32:07,950
the world to you know these real high
767
00:32:07,950 --> 00:32:11,220
end casinos. Why? Because they want to
768
00:32:11,220 --> 00:32:14,100
be that one winner, they want to have
769
00:32:14,100 --> 00:32:15,930
that one winning experience. They want
770
00:32:15,930 --> 00:32:18,990
to have that, that rush of having had
771
00:32:18,990 --> 00:32:22,830
that, that that winner's mentality even
772
00:32:22,830 --> 00:32:24,720
if it's just for one time they want that
773
00:32:24,720 --> 00:32:27,030
excitement, the what if it does happen
774
00:32:27,030 --> 00:32:29,790
factor? Well, I don't want you to have
775
00:32:29,790 --> 00:32:32,520
in that as a trader, especially as a
776
00:32:32,520 --> 00:32:33,630
developing trader, I want you to
777
00:32:33,630 --> 00:32:36,000
understand that you are a losing trader
778
00:32:36,030 --> 00:32:37,740
every single time you put a trade on.
779
00:32:38,610 --> 00:32:41,490
Every trader is a losing trader. As soon
780
00:32:41,490 --> 00:32:43,590
as they click the execution, when they
781
00:32:43,620 --> 00:32:45,570
click to get into that market. They are
782
00:32:45,570 --> 00:32:48,900
a loser from the beginning. Okay. And we
783
00:32:48,900 --> 00:32:50,130
all have to trade out of that losing
784
00:32:50,130 --> 00:32:52,140
position. And how well we're able to do
785
00:32:52,140 --> 00:32:54,930
that defines our longevity and our
786
00:32:54,930 --> 00:32:57,450
career as a trader. Treat the demo
787
00:32:57,450 --> 00:32:59,790
account like it's your business equity.
788
00:33:04,259 --> 00:33:06,089
All right now it's time to be honest.
789
00:33:06,719 --> 00:33:07,889
Now, you've probably been playing with
790
00:33:07,889 --> 00:33:10,409
the $50,000 demo account and he's over
791
00:33:10,409 --> 00:33:13,109
traded you over leveraged, just to see
792
00:33:13,109 --> 00:33:15,659
what happens. Now, when you get these
793
00:33:15,659 --> 00:33:17,789
emotional charges from doing that, what
794
00:33:17,789 --> 00:33:20,459
it's doing is mentally reinforcing the
795
00:33:20,459 --> 00:33:22,859
depth the goal, you want to feel good
796
00:33:22,859 --> 00:33:25,619
about the trading. That's not how you
797
00:33:25,619 --> 00:33:27,629
develop as a trader, you want to remove
798
00:33:27,629 --> 00:33:29,699
the emotion. You don't want to have
799
00:33:29,699 --> 00:33:32,789
emotional attachment to the trades. Take
800
00:33:32,819 --> 00:33:35,219
the emotion out by keeping the leverage
801
00:33:35,279 --> 00:33:37,709
low. It's not about making a lot of
802
00:33:37,709 --> 00:33:39,869
money fast. It's about making consistent
803
00:33:40,049 --> 00:33:43,889
money over time. I promise you as we
804
00:33:43,889 --> 00:33:46,439
work towards the end goal here, you'll
805
00:33:46,439 --> 00:33:48,299
see very quickly that you only need a
806
00:33:48,299 --> 00:33:51,119
small amount of equity, a small amount
807
00:33:51,119 --> 00:33:53,699
of return and a lot of consistency and
808
00:33:53,699 --> 00:33:55,349
to do very, very well. And it doesn't
809
00:33:55,349 --> 00:33:56,729
take a whole lot of effort really or
810
00:33:56,729 --> 00:33:59,099
work to be consistent, but it does take
811
00:33:59,099 --> 00:34:01,049
a lot of patience. Okay, and is it going
812
00:34:01,049 --> 00:34:03,149
to be a paradigm shift, it's going to be
813
00:34:03,149 --> 00:34:05,399
needed. Okay, for some of you have that
814
00:34:05,399 --> 00:34:06,929
have already wasted a lot of time
815
00:34:07,169 --> 00:34:09,179
playing around in demo account. Okay?
816
00:34:09,329 --> 00:34:11,399
Forget all that nonsense. You need to
817
00:34:11,399 --> 00:34:12,629
understand that this is going to be an
818
00:34:12,629 --> 00:34:15,599
expensive journey. You need to forget
819
00:34:15,599 --> 00:34:17,339
your ego, take all those things and
820
00:34:17,369 --> 00:34:20,069
leave it at the door. You are a new
821
00:34:20,369 --> 00:34:22,859
trader, you're a completely blank slate.
822
00:34:23,369 --> 00:34:25,679
And your demo account is representative
823
00:34:25,709 --> 00:34:27,839
of the decision making process that you
824
00:34:27,869 --> 00:34:30,839
are going to develop as a new trader,
825
00:34:31,289 --> 00:34:32,789
and how you interact with the
826
00:34:32,789 --> 00:34:35,039
marketplace based on the equity that you
827
00:34:35,039 --> 00:34:37,499
intend to trade with, and the leverage
828
00:34:37,499 --> 00:34:40,619
that's used with sound risk management
829
00:34:40,649 --> 00:34:48,389
and money management. Now, obviously,
830
00:34:48,389 --> 00:34:49,649
you just heard me say we're not trying
831
00:34:49,649 --> 00:34:51,089
to get rich quick, because in the
832
00:34:51,089 --> 00:34:54,029
beginning, you don't run, you'll learn
833
00:34:54,029 --> 00:34:57,479
to crawl and you learn to stand. Try not
834
00:34:57,479 --> 00:34:59,429
to fall down, and when you do fall down,
835
00:34:59,429 --> 00:35:01,379
try not to get hurt. too badly. Then you
836
00:35:01,379 --> 00:35:04,079
walk and you walk briskly and then you
837
00:35:04,079 --> 00:35:06,479
can run, then eventually you can sprint.
838
00:35:06,959 --> 00:35:08,639
But all too often everyone puts their
839
00:35:08,639 --> 00:35:10,799
money in the account and they sprint and
840
00:35:10,799 --> 00:35:12,599
they just quickly lose all their money.
841
00:35:13,379 --> 00:35:15,329
You don't need a whole lot of pips don't
842
00:35:15,329 --> 00:35:16,949
think that's the that's the answer.
843
00:35:17,009 --> 00:35:19,139
Okay, I see a lot of guys that sell
844
00:35:19,139 --> 00:35:20,699
their wares on the internet that you
845
00:35:20,969 --> 00:35:23,309
know, our system makes 20,000 pips a
846
00:35:23,309 --> 00:35:26,609
year, okay, I've made 80% accuracy with
847
00:35:26,639 --> 00:35:29,459
8080 million pips in the last five
848
00:35:29,459 --> 00:35:32,099
years. You don't need a lot of pips,
849
00:35:32,159 --> 00:35:36,059
okay? If you can consistently carve out
850
00:35:36,779 --> 00:35:41,669
a specific return, a very low end
851
00:35:41,669 --> 00:35:44,039
return. Okay, mind you. If you
852
00:35:44,039 --> 00:35:45,659
consistently do that and you manage your
853
00:35:45,659 --> 00:35:48,179
money appropriately, you're going to use
854
00:35:48,179 --> 00:35:50,849
the compounding effect to build your
855
00:35:50,849 --> 00:35:53,699
equity over a period of time. And you
856
00:35:53,699 --> 00:35:55,019
don't need a whole lot of money and you
857
00:35:55,019 --> 00:35:58,349
don't need a lot of return percentage
858
00:35:58,349 --> 00:36:01,709
wise. So Discard whole, that whole
859
00:36:01,709 --> 00:36:03,029
mentality that you need a whole lot of
860
00:36:03,029 --> 00:36:05,159
pips, discard the whole, I got to trade
861
00:36:05,159 --> 00:36:07,229
every single day. That's not that's not
862
00:36:07,289 --> 00:36:09,629
essential, okay? What you need to be
863
00:36:09,629 --> 00:36:13,049
thinking is, I can do a very, very good
864
00:36:13,049 --> 00:36:16,949
career with less than several hundred
865
00:36:16,949 --> 00:36:19,109
pips per month. And I'm going to show
866
00:36:19,109 --> 00:36:20,039
you that as we go.
867
00:36:25,950 --> 00:36:27,840
Now, it's important that you stay rooted
868
00:36:27,900 --> 00:36:30,300
in the reality of who you are as a
869
00:36:30,300 --> 00:36:33,960
trader. Don't go into this with a
870
00:36:33,960 --> 00:36:36,240
development process and when soon as you
871
00:36:36,240 --> 00:36:38,430
start seeing consistency, don't let your
872
00:36:38,430 --> 00:36:40,980
head inflate. Okay, you're not, you're
873
00:36:40,980 --> 00:36:43,440
not going to get anywhere by inviting
874
00:36:43,440 --> 00:36:46,380
ego as the same thing as emotion by
875
00:36:46,380 --> 00:36:48,390
having that come into your trading and
876
00:36:48,390 --> 00:36:51,180
into that development. Okay? You're
877
00:36:51,180 --> 00:36:54,660
going to plague your development, you're
878
00:36:54,660 --> 00:36:56,610
going to you're gonna cause pitfalls,
879
00:36:56,850 --> 00:36:58,860
okay, that are just waiting to open up a
880
00:36:58,860 --> 00:37:01,770
swell you Don't go into the forums and
881
00:37:01,770 --> 00:37:03,450
measure yourself against everyone else.
882
00:37:03,780 --> 00:37:05,580
Don't go in here bragging that you've
883
00:37:05,580 --> 00:37:08,370
been, you've been a superstar student,
884
00:37:08,400 --> 00:37:11,340
okay, and you've done XYZ results with
885
00:37:11,340 --> 00:37:12,450
the information so that you know,
886
00:37:12,450 --> 00:37:14,610
therefore, you know, you're better than
887
00:37:14,610 --> 00:37:16,680
everyone else. Okay? I'm not impressed
888
00:37:16,680 --> 00:37:18,720
by that. In fact, I'll shoot you down in
889
00:37:18,720 --> 00:37:21,480
private email or a pm if I see he's
890
00:37:21,540 --> 00:37:23,310
doing it. Okay, because it's not
891
00:37:23,310 --> 00:37:25,410
beneficial to you. Nobody wants to hear
892
00:37:25,410 --> 00:37:27,000
it anyway. It doesn't make them feel
893
00:37:27,000 --> 00:37:28,470
good about themselves. It looks
894
00:37:28,470 --> 00:37:30,330
arrogant, it looks pompous. But more
895
00:37:30,330 --> 00:37:32,010
importantly, it's detrimental to your
896
00:37:32,010 --> 00:37:33,090
development because you what you're
897
00:37:33,090 --> 00:37:35,400
doing is you're inflating your ego. You
898
00:37:35,400 --> 00:37:38,160
don't want that to happen. Okay? There.
899
00:37:38,460 --> 00:37:40,890
When you enter the marketplace, you are
900
00:37:40,890 --> 00:37:43,680
sheep every single time until you close
901
00:37:43,680 --> 00:37:45,900
the trade as a prophet. Okay, and then
902
00:37:45,930 --> 00:37:48,000
that's what makes you a predator. That's
903
00:37:48,000 --> 00:37:51,390
when you leave the sheep level of the
904
00:37:51,390 --> 00:37:53,310
food chain and you go up to the higher
905
00:37:53,310 --> 00:37:56,610
level where you're the apex predator. So
906
00:37:56,610 --> 00:37:58,740
you might think right now, okay, you
907
00:37:58,740 --> 00:38:00,000
might have the right stuff, but actually
908
00:38:00,000 --> 00:38:02,190
promise you, if you have that mentality
909
00:38:02,250 --> 00:38:04,350
and you're very egotistical, your
910
00:38:04,350 --> 00:38:05,820
tombstones already been carved out with
911
00:38:05,820 --> 00:38:07,350
your name in it, you're going to be in
912
00:38:07,350 --> 00:38:09,420
the traders graveyard, you will be in
913
00:38:09,420 --> 00:38:11,190
that graveyard of people that dust their
914
00:38:11,190 --> 00:38:13,140
account. It's going to be a matter of
915
00:38:13,140 --> 00:38:15,210
time, because you're inviting ego,
916
00:38:15,240 --> 00:38:17,100
you're inviting fear and greed and
917
00:38:17,100 --> 00:38:18,750
emotions are going to be responsible,
918
00:38:18,900 --> 00:38:20,040
okay for your downfall.
919
00:38:25,710 --> 00:38:27,600
All right, I've already said it earlier,
920
00:38:27,840 --> 00:38:30,120
but you got to relax. It doesn't take
921
00:38:30,120 --> 00:38:33,900
much. Now I know. You probably hear a
922
00:38:33,900 --> 00:38:35,460
lot of guys talking about how many pips
923
00:38:35,460 --> 00:38:37,590
they've made over the last week or two
924
00:38:37,590 --> 00:38:40,500
or today or yesterday, or the last year.
925
00:38:42,090 --> 00:38:44,310
Don't fall into that trap. Okay, don't
926
00:38:44,310 --> 00:38:45,870
fall in that trap. I'm going to show you
927
00:38:45,870 --> 00:38:48,420
how you can make less than 25 pips per
928
00:38:48,420 --> 00:38:50,580
week. And that's Yes, total for the
929
00:38:50,580 --> 00:38:53,760
whole week. Risking no more than 2% you
930
00:38:53,760 --> 00:38:56,370
can more than double your account every
931
00:38:56,370 --> 00:38:58,980
single year. Now, how do you do that?
932
00:38:59,520 --> 00:39:02,670
All you have to do Earn a measly Oh 6%
933
00:39:02,670 --> 00:39:05,130
return per month. Now, some of us that
934
00:39:05,130 --> 00:39:06,210
have been around this business for a
935
00:39:06,210 --> 00:39:09,120
while or in speculation 6% return is
936
00:39:09,120 --> 00:39:12,510
astronomical. Okay. But I know some of
937
00:39:12,510 --> 00:39:14,340
you aren't impressed by that. Because
938
00:39:14,340 --> 00:39:15,780
you're thinking, if I'm going to open up
939
00:39:15,780 --> 00:39:18,720
my account with $200, and I double it in
940
00:39:18,720 --> 00:39:21,000
a year, I'm only going to have $400 Plus
941
00:39:21,000 --> 00:39:23,580
I got to pay taxes on that money. Then
942
00:39:23,640 --> 00:39:26,040
the next year, my $400 is going to
943
00:39:26,040 --> 00:39:28,020
double to $800 How am I going to get
944
00:39:28,020 --> 00:39:30,660
rich doing that? Well, it's not about
945
00:39:30,900 --> 00:39:32,670
thinking getting rich quick. I've
946
00:39:32,670 --> 00:39:34,470
already told you that. But if you are
947
00:39:34,470 --> 00:39:37,650
able to do this, if you think like this,
948
00:39:38,370 --> 00:39:40,200
if you have $1,000 of speculative
949
00:39:40,200 --> 00:39:43,890
capital, you allow time to do its work.
950
00:39:44,820 --> 00:39:49,020
making less than 25 pips, okay. It works
951
00:39:49,020 --> 00:39:51,090
out to be about 23 pips if you do the
952
00:39:51,090 --> 00:39:54,210
math, if you do that, okay and say you
953
00:39:54,210 --> 00:39:57,210
average 25 pips, you would be turning
954
00:39:57,210 --> 00:40:00,300
that $1,000 inside of 10 years. You have
955
00:40:00,300 --> 00:40:02,910
made over a million dollars doing this
956
00:40:02,910 --> 00:40:04,710
approach. Now I'm going to ask you
957
00:40:04,710 --> 00:40:07,110
something. Do you see yourself 10 years
958
00:40:07,110 --> 00:40:11,190
from now? Okay, having a million dollars
959
00:40:11,940 --> 00:40:13,680
doing what you do know what, you know,
960
00:40:13,680 --> 00:40:15,840
going to the job as you go to work every
961
00:40:15,840 --> 00:40:18,480
single day. Do you see yourself having a
962
00:40:18,480 --> 00:40:20,760
million dollars 10 years from now? If
963
00:40:20,760 --> 00:40:24,060
that's not true, okay, then you need to
964
00:40:24,060 --> 00:40:27,060
make some changes. Ask yourself this,
965
00:40:27,090 --> 00:40:28,770
say hey, say you've been messing around
966
00:40:28,770 --> 00:40:30,690
with forex in the last couple years and
967
00:40:30,690 --> 00:40:32,400
you've never found any stride. You're
968
00:40:32,400 --> 00:40:35,730
just spinning your wheels. How can you
969
00:40:36,750 --> 00:40:39,060
feel good about what you've done with
970
00:40:39,060 --> 00:40:40,950
your time? Obviously, it's, it's
971
00:40:40,950 --> 00:40:42,810
demoralizing. And I know what that feels
972
00:40:42,810 --> 00:40:44,220
like. I've went through that I've done
973
00:40:44,220 --> 00:40:45,810
that not with forex, but with with
974
00:40:45,810 --> 00:40:48,180
futures trading. I got lucky going in
975
00:40:48,210 --> 00:40:50,730
initially, then I had to learn how to be
976
00:40:50,730 --> 00:40:52,830
a trader. Okay, because I lost money.
977
00:40:53,250 --> 00:40:54,900
And then I had to forget a lot of
978
00:40:54,900 --> 00:40:56,940
things. It's painful. That stuff's
979
00:40:56,940 --> 00:40:59,430
painful. I could have made a whole lot
980
00:40:59,430 --> 00:41:02,160
more money. Than I have now, if I would
981
00:41:02,160 --> 00:41:03,570
have known the things I'm sharing with
982
00:41:03,570 --> 00:41:08,070
you right now for free, but ego got in
983
00:41:08,070 --> 00:41:10,410
my way, and then fear game got in my
984
00:41:10,410 --> 00:41:13,170
way. And then desperation and I was, you
985
00:41:13,170 --> 00:41:15,270
know, I was I went through every
986
00:41:15,600 --> 00:41:17,940
possible scenario, but I want you to
987
00:41:18,000 --> 00:41:21,420
answer a question. If you've been a
988
00:41:21,420 --> 00:41:25,050
losing trader, I want to ask you, even
989
00:41:25,050 --> 00:41:29,730
if you only made five pips, okay? profit
990
00:41:30,300 --> 00:41:32,340
for the whole month. Wouldn't that be
991
00:41:32,340 --> 00:41:35,010
better than you have right now. Now
992
00:41:35,010 --> 00:41:36,780
imagine if you slowly build it a point
993
00:41:36,780 --> 00:41:38,910
where you can consistently make 6% a
994
00:41:38,910 --> 00:41:41,550
month and you're doubling your money
995
00:41:41,550 --> 00:41:44,550
every year. Banks right now are paying
996
00:41:44,550 --> 00:41:47,100
less than a quarter percent. If you can
997
00:41:47,100 --> 00:41:50,400
get that for a whole year, and you can
998
00:41:50,400 --> 00:41:55,710
turn 100 pips a month with 2% risk.
999
00:41:55,980 --> 00:41:57,780
You're doubling your money every single
1000
00:41:57,780 --> 00:42:01,080
year. That's phenomenal. If you did just
1001
00:42:01,080 --> 00:42:06,420
3% that's phenomenal. Okay, in terms of
1002
00:42:06,420 --> 00:42:10,320
returns, you can carve out an amazing
1003
00:42:10,320 --> 00:42:11,970
career, but it's going to take
1004
00:42:12,060 --> 00:42:16,170
discipline, consistency, and time. If
1005
00:42:16,170 --> 00:42:19,080
you haven't been consistently drawing a
1006
00:42:19,080 --> 00:42:21,570
return that's comparable to this, my
1007
00:42:21,570 --> 00:42:24,840
question is this. How are you feeling
1008
00:42:24,840 --> 00:42:27,150
now thinking that it only took this much
1009
00:42:27,150 --> 00:42:30,300
in terms of return in terms of pips as
1010
00:42:30,300 --> 00:42:31,800
well per month to be able to double
1011
00:42:32,100 --> 00:42:33,720
double your account? Did you double your
1012
00:42:33,720 --> 00:42:35,790
account last year? How about the year
1013
00:42:35,790 --> 00:42:38,250
before that? How about are you on track
1014
00:42:38,250 --> 00:42:41,370
this year to double your account? I'm
1015
00:42:41,370 --> 00:42:42,630
not teaching that you have to dump your
1016
00:42:42,630 --> 00:42:44,640
account guys on this stating that this
1017
00:42:44,640 --> 00:42:47,460
is what you can expect with very very
1018
00:42:47,460 --> 00:42:50,190
low expectations and realistic returns
1019
00:42:50,190 --> 00:42:50,730
in mind.
1020
00:42:56,490 --> 00:42:59,700
Avoid the traders graveyard guys. I want
1021
00:42:59,700 --> 00:43:02,580
to leave you with some really important
1022
00:43:02,580 --> 00:43:03,990
points here as it relates to over
1023
00:43:03,990 --> 00:43:08,880
trading and over leveraging. I've been a
1024
00:43:08,880 --> 00:43:11,130
victim of this in my trading as a
1025
00:43:11,130 --> 00:43:13,290
futures trader. I know what it's like to
1026
00:43:13,560 --> 00:43:15,900
just totally decimate your accounts. And
1027
00:43:15,900 --> 00:43:17,820
yes, I said accounts that was plural.
1028
00:43:18,240 --> 00:43:21,690
I've went through a lot of money, trying
1029
00:43:21,690 --> 00:43:25,470
to do the get rich quick stuff. And even
1030
00:43:25,470 --> 00:43:28,320
though I had a winning system, my over
1031
00:43:28,320 --> 00:43:31,230
leveraging undermined it. And it caused
1032
00:43:31,230 --> 00:43:32,880
me to get out of trades sooner than I
1033
00:43:32,880 --> 00:43:35,400
should have, or hold on to with losing
1034
00:43:35,400 --> 00:43:37,290
trades longer than I should have. And
1035
00:43:37,290 --> 00:43:38,820
what would have been a minor loss became
1036
00:43:38,820 --> 00:43:42,660
a huge loss. Okay. And that's what it's
1037
00:43:42,660 --> 00:43:44,430
all about, you know, you got to keep
1038
00:43:44,430 --> 00:43:47,580
your risk low. Keep your over leveraging
1039
00:43:48,210 --> 00:43:49,590
at bay, don't over leverage your
1040
00:43:49,590 --> 00:43:51,930
account. And you understand by the
1041
00:43:51,930 --> 00:43:54,630
previous discussion we had about having
1042
00:43:54,630 --> 00:43:58,860
25 pips or less with 2% risk. That's 6%
1043
00:43:58,860 --> 00:44:00,630
return per month. compounded over the
1044
00:44:00,630 --> 00:44:02,370
year, that's more than 100% return in
1045
00:44:02,370 --> 00:44:05,880
your account. There's no rush for you to
1046
00:44:05,880 --> 00:44:08,580
get rich quick, okay? doctors don't come
1047
00:44:08,580 --> 00:44:10,800
out of med school right away making a
1048
00:44:10,800 --> 00:44:12,450
million dollars, okay, they got to get
1049
00:44:12,450 --> 00:44:14,250
their practice started. They got to grow
1050
00:44:14,250 --> 00:44:15,930
into that field as well. But they're
1051
00:44:15,930 --> 00:44:19,020
paying an arm and a leg, no pun intended
1052
00:44:19,500 --> 00:44:21,750
for the education to get to be a
1053
00:44:21,750 --> 00:44:24,960
practitioner of medicine. You are going
1054
00:44:24,960 --> 00:44:26,790
to have to put that time in as well. And
1055
00:44:26,790 --> 00:44:28,650
you can't avoid it. And you can't make
1056
00:44:28,650 --> 00:44:30,780
shortcuts with overtrading and over
1057
00:44:30,780 --> 00:44:33,480
leveraging. It never works. Trust me.
1058
00:44:33,690 --> 00:44:39,270
Just don't do it. Now, it doesn't
1059
00:44:39,270 --> 00:44:41,880
require long hours. I know why you guys
1060
00:44:41,880 --> 00:44:43,050
think you got to be in front of charts
1061
00:44:43,050 --> 00:44:44,160
all the time. If you see this little
1062
00:44:44,160 --> 00:44:47,220
picture. That was me. That was me as a
1063
00:44:47,220 --> 00:44:49,620
new trader, okay, I would work 13 hours
1064
00:44:49,620 --> 00:44:52,740
a day, that's spend umpteen hours Okay,
1065
00:44:52,800 --> 00:44:55,050
you know, throughout the week, looking
1066
00:44:55,050 --> 00:44:57,600
at charts, and having very little sleep
1067
00:44:57,660 --> 00:44:59,220
and then going back out and going to
1068
00:44:59,220 --> 00:45:03,990
work again. So my biggest advice to you,
1069
00:45:04,020 --> 00:45:05,910
if that's what you're thinking is Don't,
1070
00:45:06,240 --> 00:45:08,700
don't think that Okay, here's what I'd
1071
00:45:08,700 --> 00:45:10,860
like you to do. I would like you to do
1072
00:45:10,860 --> 00:45:13,620
another little study. And I want you to
1073
00:45:14,580 --> 00:45:20,190
bracket out on on your charts. Mark out
1074
00:45:20,250 --> 00:45:23,370
seven in the morning, New York time, to
1075
00:45:23,370 --> 00:45:24,690
10 o'clock in the morning, New York
1076
00:45:24,690 --> 00:45:27,540
time. And I want you to mark out two
1077
00:45:27,540 --> 00:45:29,790
o'clock in the morning, New York time,
1078
00:45:30,270 --> 00:45:32,640
and four o'clock in the morning, New
1079
00:45:32,640 --> 00:45:36,330
York time, just those two little windows
1080
00:45:36,330 --> 00:45:38,370
of time. And I want you to look at what
1081
00:45:38,520 --> 00:45:40,830
takes place on a daily basis and do that
1082
00:45:40,830 --> 00:45:44,280
for a month. I want you to determine how
1083
00:45:44,280 --> 00:45:47,220
much of a move took place and what time
1084
00:45:47,220 --> 00:45:49,920
those moves began and when they ended
1085
00:45:50,190 --> 00:45:52,620
each day. And I want you to understand
1086
00:45:52,620 --> 00:45:55,140
that those three hours twice a day is
1087
00:45:55,200 --> 00:45:57,990
all you need. And you only need one of
1088
00:45:57,990 --> 00:46:01,500
those per day. Okay. You only need one
1089
00:46:01,500 --> 00:46:05,280
of those per week. You only need one of
1090
00:46:05,280 --> 00:46:10,410
those per month to make that 6%. If you
1091
00:46:10,410 --> 00:46:13,200
do, you're leveraging your risk
1092
00:46:13,200 --> 00:46:15,720
management and your trade selection
1093
00:46:16,020 --> 00:46:18,720
properly. Now think about it. How does
1094
00:46:18,720 --> 00:46:20,940
that contrast what you think right now
1095
00:46:21,120 --> 00:46:22,410
that you got to be trading every single
1096
00:46:22,410 --> 00:46:25,560
day, every session and you got to make a
1097
00:46:25,560 --> 00:46:30,000
million pips Quickly, quickly, this is
1098
00:46:30,000 --> 00:46:31,950
becoming much more reasonable and
1099
00:46:31,950 --> 00:46:33,360
realistic, don't you think?
1100
00:46:43,380 --> 00:46:46,140
Okay, let's look at a chart and discuss
1101
00:46:46,140 --> 00:46:48,150
some of the things that are beneficial
1102
00:46:48,150 --> 00:46:51,120
as a foundation to some of our materials
1103
00:46:51,270 --> 00:46:53,070
and also give you something to really
1104
00:46:53,070 --> 00:46:55,860
study on a daily basis when you're
1105
00:46:55,860 --> 00:46:59,460
looking at your charts. It's probably
1106
00:47:00,750 --> 00:47:03,660
Something you may not have noticed if
1107
00:47:03,660 --> 00:47:05,940
you're a new trader. But this chart
1108
00:47:05,940 --> 00:47:07,140
actually gives you a whole lot of
1109
00:47:07,140 --> 00:47:09,360
information just staring at the
1110
00:47:09,360 --> 00:47:11,190
candlesticks themselves and the way
1111
00:47:11,190 --> 00:47:13,590
price action moves within each swing.
1112
00:47:14,730 --> 00:47:17,640
The pattern I'm going to show you now is
1113
00:47:18,150 --> 00:47:21,660
very, very important going forward. It's
1114
00:47:21,660 --> 00:47:23,370
going to be referred to a lot in my
1115
00:47:23,370 --> 00:47:25,380
material. And it's actually the
1116
00:47:25,380 --> 00:47:28,080
framework for a lot of the price action
1117
00:47:28,080 --> 00:47:29,730
analysis concepts you're going to learn
1118
00:47:29,730 --> 00:47:32,490
through all the coursework that I'm
1119
00:47:32,490 --> 00:47:35,010
presenting here. We're going to be
1120
00:47:35,010 --> 00:47:38,130
talking about swing points, okay. And
1121
00:47:38,130 --> 00:47:43,500
swing points are really defined as such
1122
00:47:43,500 --> 00:47:46,140
we're going to show you this is one
1123
00:47:46,140 --> 00:47:51,810
candle and to the left of it will be
1124
00:47:51,810 --> 00:47:53,760
another candle and to the right of it
1125
00:47:53,760 --> 00:47:58,320
will be another okay and this is a crude
1126
00:47:58,320 --> 00:48:02,910
depiction of a swing high. Okay, swing
1127
00:48:02,910 --> 00:48:05,610
high is delineated by a lower high on
1128
00:48:05,610 --> 00:48:08,280
the left and a lower high on the right,
1129
00:48:08,640 --> 00:48:11,760
with a higher candle in the middle.
1130
00:48:11,880 --> 00:48:15,930
Okay? And you probably guessed, a swing
1131
00:48:15,930 --> 00:48:21,870
low is simply a low. Two has two higher
1132
00:48:21,870 --> 00:48:23,850
lows surrounding it. In other words, you
1133
00:48:23,850 --> 00:48:26,070
have one higher low on the left, one
1134
00:48:26,070 --> 00:48:29,730
higher low on the right. Okay? Sometimes
1135
00:48:29,730 --> 00:48:32,250
when we are in technical circles and
1136
00:48:32,250 --> 00:48:35,160
we're discussing swing points, many
1137
00:48:35,160 --> 00:48:37,500
times you'll hear a swing low
1138
00:48:38,400 --> 00:48:42,780
represented by having something like
1139
00:48:42,780 --> 00:48:43,230
this.
1140
00:48:48,690 --> 00:48:52,590
Okay, and they, in other circles, the
1141
00:48:52,590 --> 00:48:55,770
teacher or share ideas, they'll say that
1142
00:48:55,770 --> 00:48:57,000
this is a swing low because it's
1143
00:48:57,000 --> 00:49:02,070
qualified by having to hire low On the
1144
00:49:02,070 --> 00:49:05,100
right end to higher lows on the left, to
1145
00:49:05,100 --> 00:49:08,340
me, as long as we have the three bar
1146
00:49:08,340 --> 00:49:10,830
pattern here, that's sufficient enough
1147
00:49:10,830 --> 00:49:17,190
for me. And if you are relying on the
1148
00:49:17,190 --> 00:49:19,500
marketplace to give you that much time,
1149
00:49:19,680 --> 00:49:21,150
the markets already really moved away
1150
00:49:21,150 --> 00:49:23,820
from an ideal location down here for
1151
00:49:23,820 --> 00:49:26,430
entry. Okay, so what I'm teaching you is
1152
00:49:26,430 --> 00:49:28,500
I'm trying to train your eye to look at
1153
00:49:29,040 --> 00:49:31,650
where the swing points occur and how
1154
00:49:31,650 --> 00:49:33,930
they form and how you can get very, very
1155
00:49:33,930 --> 00:49:36,990
close to the reaction points where price
1156
00:49:36,990 --> 00:49:39,420
is going to be moving aggressively up or
1157
00:49:39,450 --> 00:49:41,760
down away from those particular price
1158
00:49:41,760 --> 00:49:44,820
points. So now what you want to do is
1159
00:49:44,820 --> 00:49:45,990
you want to pick out right now have an
1160
00:49:45,990 --> 00:49:50,880
Australian USD h for an hour. It's a
1161
00:49:50,880 --> 00:49:52,950
chart comprised of each candle,
1162
00:49:53,580 --> 00:49:56,070
delineating four hours worth of time,
1163
00:49:56,190 --> 00:49:57,570
okay, so in other words, every vertical
1164
00:49:57,570 --> 00:50:00,630
line, or vertical candle, represent Four
1165
00:50:00,630 --> 00:50:03,000
hours worth of time. Okay, so this is
1166
00:50:03,000 --> 00:50:05,250
the highest high in that four hour
1167
00:50:05,250 --> 00:50:07,140
period and this is the lowest low in
1168
00:50:07,140 --> 00:50:09,270
that four hour period. Okay? Now what I
1169
00:50:09,270 --> 00:50:10,440
want you to do is when you go through
1170
00:50:10,440 --> 00:50:12,210
your charts, okay, this could be in any
1171
00:50:12,210 --> 00:50:13,800
timeframe, but I use the four hour
1172
00:50:13,800 --> 00:50:16,140
simply because I like the four hour it
1173
00:50:16,140 --> 00:50:17,610
can be used for day trading, it could be
1174
00:50:17,610 --> 00:50:19,470
used for swing trading, short term
1175
00:50:19,470 --> 00:50:21,450
trading, even position trading, if you
1176
00:50:21,450 --> 00:50:22,500
know what you're looking for in terms of
1177
00:50:22,500 --> 00:50:25,230
higher level support resistance. But for
1178
00:50:25,230 --> 00:50:26,910
now, what we're going to look at is
1179
00:50:26,910 --> 00:50:30,000
we're going to discuss the importance
1180
00:50:30,180 --> 00:50:31,560
very briefly and we're going to build on
1181
00:50:31,560 --> 00:50:35,070
this obviously as we go along. But I
1182
00:50:35,070 --> 00:50:36,990
want you to notice that you have a lower
1183
00:50:36,990 --> 00:50:40,530
high to the left of this candle, and we
1184
00:50:40,530 --> 00:50:41,940
have a lower high to the right of this
1185
00:50:41,940 --> 00:50:43,950
candle. Okay, so that makes it this
1186
00:50:44,400 --> 00:50:46,620
three bar pattern lowered this candle,
1187
00:50:46,980 --> 00:50:49,920
this candle and this candle, a swing
1188
00:50:49,920 --> 00:50:52,350
high. Okay, so we're going to take that
1189
00:50:52,350 --> 00:50:54,810
swing high, and we're gonna look at two
1190
00:50:55,470 --> 00:50:58,020
price points as it relates to this.
1191
00:51:02,460 --> 00:51:05,310
Okay, see that what I've delineated here
1192
00:51:05,310 --> 00:51:08,400
is the range from the highest high and
1193
00:51:08,400 --> 00:51:11,880
the lowest low, that make up that entire
1194
00:51:11,880 --> 00:51:15,120
three bar pattern. Okay, see that this
1195
00:51:15,120 --> 00:51:17,580
is the lower of the three candles. If
1196
00:51:17,580 --> 00:51:19,410
this candle in the middle worse lower
1197
00:51:19,410 --> 00:51:20,760
than this candle on the right of the
1198
00:51:20,760 --> 00:51:22,590
three bar pattern, then I would have
1199
00:51:22,590 --> 00:51:25,140
that level noted there, but the lowest.
1200
00:51:26,250 --> 00:51:27,510
In other words in terms of the total
1201
00:51:27,510 --> 00:51:29,130
range between all three candles
1202
00:51:29,130 --> 00:51:31,080
combined, where's the highest high
1203
00:51:31,080 --> 00:51:32,460
whereas the lowest low, that's what
1204
00:51:32,460 --> 00:51:35,220
we're looking for. Okay? You want to
1205
00:51:35,220 --> 00:51:38,100
have this in your mind as you're looking
1206
00:51:38,100 --> 00:51:40,260
at your charts. Now. You're going to see
1207
00:51:40,260 --> 00:51:42,300
very quickly doing this. You could have
1208
00:51:42,300 --> 00:51:44,850
a whole lot of lines on your chart, but
1209
00:51:45,210 --> 00:51:47,160
the concept is what we're trying to
1210
00:51:47,160 --> 00:51:49,860
arrive at. So that way, when you can
1211
00:51:49,860 --> 00:51:51,360
clearly see the swing points on your
1212
00:51:51,360 --> 00:51:52,890
chart, you won't need to have this many
1213
00:51:52,890 --> 00:51:55,740
lines on your chart, okay. But this is
1214
00:51:55,740 --> 00:51:58,050
one particular range that is
1215
00:51:58,200 --> 00:52:00,810
influential. Okay to all price action
1216
00:52:00,810 --> 00:52:03,870
analysis concepts. Okay, every price
1217
00:52:03,870 --> 00:52:07,020
point between the high and low, okay, on
1218
00:52:07,020 --> 00:52:09,720
each candle being the low, the high open
1219
00:52:09,720 --> 00:52:12,120
and close of each candle is also a
1220
00:52:12,120 --> 00:52:14,880
sensitive price point. Okay, but for now
1221
00:52:14,910 --> 00:52:16,260
we're just gonna identify the total
1222
00:52:16,260 --> 00:52:19,710
range that makes up that swing high. The
1223
00:52:19,710 --> 00:52:23,610
same thing occurs when we look at swing
1224
00:52:23,610 --> 00:52:25,710
lows, okay, we have a swing low here we
1225
00:52:25,710 --> 00:52:29,880
have a low with a lower low and a higher
1226
00:52:29,880 --> 00:52:32,010
low. Okay, see that? Here's that three
1227
00:52:32,010 --> 00:52:34,980
bar pattern. Okay, now we're going to do
1228
00:52:34,980 --> 00:52:40,140
is we're going to delineate that and
1229
00:52:40,140 --> 00:52:41,490
then we're gonna use the high because
1230
00:52:41,520 --> 00:52:46,170
this candle let's change the color that
1231
00:52:46,170 --> 00:52:53,760
just to differentiate. Okay, we're using
1232
00:52:53,760 --> 00:52:57,120
the high candle here of the three bar
1233
00:52:57,120 --> 00:52:58,380
pattern. So this is the highest of the
1234
00:52:58,380 --> 00:53:00,600
range and this candles Low is the
1235
00:53:00,600 --> 00:53:03,210
lowest, okay? Now watch what happens.
1236
00:53:05,490 --> 00:53:07,860
Now we've delineated that range, okay?
1237
00:53:08,340 --> 00:53:12,690
So we have a swing low and a swing high.
1238
00:53:12,990 --> 00:53:14,880
Okay, so now what we're doing is we're,
1239
00:53:15,030 --> 00:53:16,800
we're breaking the market down, and
1240
00:53:16,800 --> 00:53:18,480
we're looking for potential reaction
1241
00:53:18,480 --> 00:53:21,390
points. Okay? This swing low, you can
1242
00:53:21,390 --> 00:53:24,480
see clearly, later in time price came up
1243
00:53:24,480 --> 00:53:25,860
to that same price level and look what
1244
00:53:25,860 --> 00:53:27,240
happened. Did it stay there very long?
1245
00:53:27,540 --> 00:53:30,480
Absolutely not. And the market repelled
1246
00:53:30,630 --> 00:53:33,810
and went lower. Okay. So now, let's go
1247
00:53:33,810 --> 00:53:37,170
back and go through some more examples.
1248
00:53:38,130 --> 00:53:42,300
And we're going to fare it out. Another
1249
00:53:44,820 --> 00:53:45,660
swing low.
1250
00:53:51,540 --> 00:53:54,240
Okay, and what I've done is I've noted
1251
00:53:54,960 --> 00:53:57,390
this swing low, so you have a candle
1252
00:53:57,390 --> 00:53:59,160
with a low with a higher low on the
1253
00:53:59,160 --> 00:54:00,990
left, and a higher candle on the right.
1254
00:54:01,170 --> 00:54:05,010
Okay, so all all three candles, okay,
1255
00:54:05,010 --> 00:54:08,190
one has the low with a higher low on
1256
00:54:08,190 --> 00:54:10,350
either side. It's only taking three
1257
00:54:10,350 --> 00:54:13,080
candles to do that. Okay? Now you're
1258
00:54:13,080 --> 00:54:15,300
probably asking why am I skipping over
1259
00:54:15,300 --> 00:54:16,740
this little one here because this would
1260
00:54:16,740 --> 00:54:19,020
be a swing low. Yes. Well, it's because
1261
00:54:19,020 --> 00:54:21,960
we're looking at this is a Sunday. Okay,
1262
00:54:21,960 --> 00:54:24,900
so you kind of like, take that into
1263
00:54:25,800 --> 00:54:27,930
interior equation when you have these
1264
00:54:27,960 --> 00:54:30,930
little, little tiny Sundays. I guess a
1265
00:54:30,930 --> 00:54:32,460
general rule of thumb would be if you
1266
00:54:32,460 --> 00:54:34,830
have a big range Sunday, then I would
1267
00:54:34,950 --> 00:54:36,810
use it but if it's a real small little
1268
00:54:37,680 --> 00:54:40,830
candle, usually it's typical of a Sunday
1269
00:54:41,670 --> 00:54:44,880
down I won't factor that in. But for
1270
00:54:44,880 --> 00:54:46,530
now, we're just gonna look for the most
1271
00:54:46,560 --> 00:54:49,650
obvious swing points. Okay. So again,
1272
00:54:49,680 --> 00:54:51,660
using the premise that we've already
1273
00:54:51,660 --> 00:54:54,180
established, the candle highs and
1274
00:54:54,180 --> 00:54:56,760
candles low. We have a swing low here,
1275
00:54:56,790 --> 00:54:58,590
we've mapped out the highest point and
1276
00:54:58,590 --> 00:55:00,780
the lowest point and you draw that out a
1277
00:55:00,780 --> 00:55:02,790
little bit. Now, obviously, you want to
1278
00:55:02,790 --> 00:55:06,870
have these levels in mind, okay, as you
1279
00:55:06,870 --> 00:55:09,060
look at your chart, okay, and again,
1280
00:55:09,090 --> 00:55:11,700
going back to the premise that if we put
1281
00:55:11,910 --> 00:55:14,820
every single line that's available using
1282
00:55:14,820 --> 00:55:16,950
this concept on your chart, you would
1283
00:55:16,980 --> 00:55:20,070
quickly be inundated with so many levels
1284
00:55:20,070 --> 00:55:21,630
it would be it would be confusing to
1285
00:55:21,630 --> 00:55:23,700
you, okay, but you'll see, after a
1286
00:55:23,700 --> 00:55:28,080
period of time, you'll adopt an eye for
1287
00:55:28,110 --> 00:55:30,060
price swings and the ones that are going
1288
00:55:30,060 --> 00:55:34,770
to be more useful to you will become
1289
00:55:34,800 --> 00:55:36,780
obviously much more apparent as time
1290
00:55:36,780 --> 00:55:38,220
goes on. Okay, but right now, in the
1291
00:55:38,220 --> 00:55:39,780
beginning, you don't have that
1292
00:55:39,870 --> 00:55:44,370
understanding or the ability to see what
1293
00:55:44,490 --> 00:55:45,960
you should be seeing. Okay, and this is
1294
00:55:45,960 --> 00:55:48,390
how you develop the eye for it. Okay. So
1295
00:55:48,390 --> 00:55:51,840
we have the swing low here, movement up
1296
00:55:51,840 --> 00:55:55,290
the highest high and the lowest low. We
1297
00:55:55,290 --> 00:55:58,020
have a swing high here. Okay, we have
1298
00:55:58,020 --> 00:56:00,690
swing low. We have no swing low. Here,
1299
00:56:00,780 --> 00:56:02,460
okay, but look at what we've done here,
1300
00:56:02,460 --> 00:56:05,190
we've, we've made this price point, just
1301
00:56:05,190 --> 00:56:08,820
like this, okay? swing low, higher low
1302
00:56:08,820 --> 00:56:12,450
and higher low on either side of it. Why
1303
00:56:12,480 --> 00:56:14,760
would be? Why would we look at this
1304
00:56:14,760 --> 00:56:17,070
level and this level when we're pretty
1305
00:56:17,070 --> 00:56:19,860
much very close to it with this range
1306
00:56:19,860 --> 00:56:22,230
already see that? Okay, so when price
1307
00:56:22,230 --> 00:56:24,750
levels are very close like that, I just
1308
00:56:24,750 --> 00:56:26,580
use the ones that are very clear, this
1309
00:56:26,580 --> 00:56:29,040
is a pretty important swing low versus
1310
00:56:29,040 --> 00:56:30,930
this one. Okay, so this swing low is
1311
00:56:30,930 --> 00:56:32,460
occurring inside of the range that's
1312
00:56:32,460 --> 00:56:35,340
been established by this swing low here,
1313
00:56:35,430 --> 00:56:37,290
okay, from the low range low to the
1314
00:56:37,290 --> 00:56:40,110
range high, this short term swing lows
1315
00:56:40,110 --> 00:56:42,690
inside of that range. So This to me is
1316
00:56:42,690 --> 00:56:44,460
going to be subordinate or less
1317
00:56:44,460 --> 00:56:47,850
influential in terms of future
1318
00:56:48,120 --> 00:56:49,710
prognostication in terms of price
1319
00:56:49,710 --> 00:56:52,590
action, this range is going to be much
1320
00:56:52,590 --> 00:56:54,510
more significant later on. Okay, so in
1321
00:56:54,510 --> 00:56:56,250
other words, we're, we're going to apply
1322
00:56:56,430 --> 00:57:01,770
strength okay. Factors To which price
1323
00:57:01,770 --> 00:57:03,420
points we use for swing highs and swing
1324
00:57:03,420 --> 00:57:07,440
lows. Okay, so now we have a swing high,
1325
00:57:08,130 --> 00:57:11,370
okay? And we're going to use our
1326
00:57:11,370 --> 00:57:15,000
different color. Just let me delineate
1327
00:57:15,000 --> 00:57:19,050
that as well. Okay, and see what we have
1328
00:57:19,050 --> 00:57:24,300
here. This big breakdown here, the
1329
00:57:24,300 --> 00:57:29,370
lowest low in the three bar pattern,
1330
00:57:29,850 --> 00:57:31,890
okay for the swing high is this candle
1331
00:57:31,890 --> 00:57:34,710
here. Okay? Look at all the price
1332
00:57:34,830 --> 00:57:36,360
trading that takes place around that
1333
00:57:36,360 --> 00:57:38,130
price point. Okay, look at the open and
1334
00:57:38,130 --> 00:57:40,380
closing of these candles, look at the
1335
00:57:40,380 --> 00:57:42,390
highs, the demise of the candles in
1336
00:57:42,390 --> 00:57:44,610
here. Okay, you'd have some reaction in
1337
00:57:44,610 --> 00:57:48,090
here as well later on. And that's all
1338
00:57:48,120 --> 00:57:50,040
working within this dealing range
1339
00:57:50,040 --> 00:57:52,800
between this low and this high. Okay,
1340
00:57:52,800 --> 00:57:54,840
and again, what we're mapping out is the
1341
00:57:54,840 --> 00:57:58,740
swing highs, extreme points. Okay. And
1342
00:57:58,770 --> 00:58:00,510
you can see look at the body The candle
1343
00:58:00,510 --> 00:58:02,550
here, see, we wikked through the
1344
00:58:02,550 --> 00:58:05,310
previous swing high here. Notice we
1345
00:58:05,310 --> 00:58:06,780
didn't do a whole lot of trading there,
1346
00:58:06,810 --> 00:58:08,250
the bodies of the candles were both
1347
00:58:08,250 --> 00:58:10,740
below that. Okay, so these are, these
1348
00:58:10,740 --> 00:58:13,140
are the building blocks, if you will, to
1349
00:58:13,140 --> 00:58:15,690
understanding very, very advanced price
1350
00:58:15,690 --> 00:58:16,800
action concepts that you're going to
1351
00:58:16,800 --> 00:58:19,980
learn later on. But for now what we're
1352
00:58:19,980 --> 00:58:22,500
gonna be doing is getting you used to
1353
00:58:22,500 --> 00:58:24,900
seeing the price swings, and swing highs
1354
00:58:24,900 --> 00:58:26,760
and swing lows and mapping them out. So
1355
00:58:26,760 --> 00:58:28,920
that way we can see future price
1356
00:58:28,950 --> 00:58:31,500
sensitivity to those same particular
1357
00:58:31,500 --> 00:58:33,600
levels. And by understanding what you're
1358
00:58:33,600 --> 00:58:36,300
doing, by applying these concepts,
1359
00:58:36,360 --> 00:58:39,060
you'll start to see and anticipate
1360
00:58:39,060 --> 00:58:40,950
really, which is which, which is the
1361
00:58:40,950 --> 00:58:42,300
powerful concept that you're supposed to
1362
00:58:42,300 --> 00:58:43,380
be gleaning from this.
1363
00:58:44,640 --> 00:58:47,790
Learning to anticipate price rejections
1364
00:58:47,820 --> 00:58:49,650
once it trades these levels because if
1365
00:58:49,650 --> 00:58:51,180
price was able to repel away from that
1366
00:58:51,180 --> 00:58:53,610
particular level at a earlier time,
1367
00:58:53,880 --> 00:58:56,520
chances are that probably we'll see that
1368
00:58:56,520 --> 00:58:58,950
same effect happen at a later time.
1369
00:58:59,550 --> 00:59:02,910
Okay, so Have a swing high here. Okay?
1370
00:59:03,540 --> 00:59:09,450
And I'm going to show you the lows are
1371
00:59:09,450 --> 00:59:13,200
pretty much equal right in here. Okay,
1372
00:59:13,230 --> 00:59:15,600
this low and this low of the three bar
1373
00:59:15,600 --> 00:59:17,100
pattern that makes this swing high up.
1374
00:59:17,850 --> 00:59:20,430
We have price sensitivity right there,
1375
00:59:20,520 --> 00:59:22,950
beautifully done beautifully. Okay,
1376
00:59:23,310 --> 00:59:26,340
comes back up again. Okay and it trades
1377
00:59:26,580 --> 00:59:29,850
through this level and trades right back
1378
00:59:29,850 --> 00:59:32,730
up into what level this sensitive level,
1379
00:59:32,970 --> 00:59:36,120
okay? then it creates another swing
1380
00:59:36,120 --> 00:59:38,910
high. Okay, see that. So now we're going
1381
00:59:38,910 --> 00:59:45,360
to have low slow. Bring this over here a
1382
00:59:45,360 --> 00:59:48,120
little bit, so no fusion you too much.
1383
00:59:48,630 --> 00:59:51,150
So we have a swing high in here. Okay,
1384
00:59:51,150 --> 00:59:54,360
and the lowest low and just for
1385
00:59:54,360 --> 00:59:55,830
completeness sake, again
1386
01:00:03,689 --> 01:00:06,359
I hit my show that but it is what it is
1387
01:00:06,359 --> 01:00:11,279
we're going to reveal it get to the
1388
01:00:11,279 --> 01:00:12,209
chart where I need it.
1389
01:00:18,180 --> 01:00:22,710
Okay, so here's the, the high that swing
1390
01:00:22,710 --> 01:00:27,390
high or that the extreme upper range of
1391
01:00:27,390 --> 01:00:29,730
the high right here and the low. Okay,
1392
01:00:29,760 --> 01:00:32,610
so we have this candle, this candle and
1393
01:00:32,610 --> 01:00:34,950
this candle making this swing high. The
1394
01:00:34,950 --> 01:00:37,350
lowest price point is right here. Okay,
1395
01:00:37,500 --> 01:00:39,690
so inside these two price points, there
1396
01:00:39,690 --> 01:00:41,910
should be future sensitivity. Okay.
1397
01:00:42,660 --> 01:00:45,510
Again, keying off of the open high, low
1398
01:00:45,510 --> 01:00:48,300
and close of the three bars, or three
1399
01:00:48,300 --> 01:00:49,770
candles that make up the swing high and
1400
01:00:49,770 --> 01:00:53,790
swing low. Okay, we have a swing low in
1401
01:00:53,790 --> 01:01:00,750
here and what we'll do is as well Mark
1402
01:01:00,750 --> 01:01:01,290
that out.
1403
01:01:06,540 --> 01:01:10,020
And the highest high inside the swing
1404
01:01:10,950 --> 01:01:14,460
low between this candle, this candle and
1405
01:01:14,460 --> 01:01:16,800
this candle. The highest high is here
1406
01:01:17,100 --> 01:01:19,380
and the lowest lows here. Okay? So we'll
1407
01:01:19,380 --> 01:01:21,780
be looking for future sensitivity inside
1408
01:01:21,780 --> 01:01:24,000
of that range. Okay. And you can see
1409
01:01:24,000 --> 01:01:25,770
there was a very nice swing low form
1410
01:01:25,770 --> 01:01:27,960
here violated it just a little bit.
1411
01:01:28,350 --> 01:01:30,120
Okay? And then what would it be for
1412
01:01:30,240 --> 01:01:32,430
another swing low. Notice we're not
1413
01:01:32,430 --> 01:01:33,960
going to need to draw another line
1414
01:01:34,200 --> 01:01:35,280
because this level is already
1415
01:01:35,280 --> 01:01:37,410
represented with this level back here,
1416
01:01:37,710 --> 01:01:43,050
okay? In this high candle, okay is
1417
01:01:43,050 --> 01:01:44,760
already dealing with this range here. So
1418
01:01:44,760 --> 01:01:47,520
see how this price swing is subordinate.
1419
01:01:47,910 --> 01:01:50,700
Okay, inside of this swing low, so
1420
01:01:50,700 --> 01:01:53,160
there's no necessity for us to fine tune
1421
01:01:53,460 --> 01:01:55,020
any levels in here because it's already
1422
01:01:55,020 --> 01:01:57,780
been pre determined with the range from
1423
01:01:57,780 --> 01:02:01,020
this swing low. Okay. Now we have this
1424
01:02:01,020 --> 01:02:03,810
swing high. Okay? See that we have a
1425
01:02:03,810 --> 01:02:07,260
high, a higher high and a lower high. So
1426
01:02:07,260 --> 01:02:09,570
we have a high with two lower candles to
1427
01:02:09,570 --> 01:02:11,460
either side of it. Okay, so making that
1428
01:02:11,460 --> 01:02:13,560
three bar swing high pattern we like to
1429
01:02:13,560 --> 01:02:17,130
look for. So when you see that, what we
1430
01:02:17,130 --> 01:02:20,760
can do again is you take your, your
1431
01:02:20,760 --> 01:02:29,040
levels here and you draw that and what
1432
01:02:29,040 --> 01:02:30,510
I'm doing since gathering this candle
1433
01:02:30,510 --> 01:02:31,740
here because I really want to show the,
1434
01:02:32,160 --> 01:02:34,650
the very clean symmetry that's presented
1435
01:02:35,010 --> 01:02:37,470
with this sample set in terms of price
1436
01:02:37,470 --> 01:02:44,670
action. And looking at the lowest low
1437
01:02:47,310 --> 01:02:49,680
it's this candle here because this is
1438
01:02:49,680 --> 01:02:51,300
the lowest candle between all three
1439
01:02:51,300 --> 01:02:53,460
candles of the sweet and high pattern.
1440
01:02:53,970 --> 01:03:00,630
Okay, and this is go for a little bit We
1441
01:03:00,630 --> 01:03:03,990
have a new swing low down here.
1442
01:03:10,500 --> 01:03:17,580
So we have this low here. And the
1443
01:03:17,580 --> 01:03:21,090
highest high of the swing low pattern is
1444
01:03:21,090 --> 01:03:23,130
right here. So it's the three bar
1445
01:03:23,130 --> 01:03:26,250
pattern low. Okay, the highest price
1446
01:03:26,250 --> 01:03:29,370
point in three candles is this price
1447
01:03:29,370 --> 01:03:31,800
point and the lowest lows here, okay and
1448
01:03:31,800 --> 01:03:32,640
we're going to be looking for certain
1449
01:03:32,640 --> 01:03:35,310
price sensitivity going forward. Okay,
1450
01:03:35,340 --> 01:03:39,480
and now we have a unique opportunity,
1451
01:03:39,660 --> 01:03:44,340
okay to show you where price creates
1452
01:03:46,380 --> 01:03:49,980
kind of like a muddy little swing point.
1453
01:03:50,160 --> 01:03:51,900
Okay, see how these price points are
1454
01:03:51,900 --> 01:03:55,110
basically the same. Okay, if you look
1455
01:03:55,110 --> 01:04:05,370
very carefully You have price
1456
01:04:05,370 --> 01:04:07,020
essentially trading almost at the same
1457
01:04:07,020 --> 01:04:09,390
price point okay see that if you look
1458
01:04:09,390 --> 01:04:12,270
real close this candle is slightly
1459
01:04:12,750 --> 01:04:15,600
higher than this one and this one okay
1460
01:04:16,050 --> 01:04:18,300
and again we have that same like Sunday
1461
01:04:18,300 --> 01:04:20,580
phenomena I guess with these small
1462
01:04:20,580 --> 01:04:23,850
little candles. So, when I have
1463
01:04:23,850 --> 01:04:25,860
something like this What I do is I look
1464
01:04:25,890 --> 01:04:31,200
at the overall consolidation Okay, I see
1465
01:04:31,200 --> 01:04:33,450
the bodies and the wicks okay see how
1466
01:04:33,450 --> 01:04:35,610
the wick is here, the body of the candle
1467
01:04:35,610 --> 01:04:37,590
here the body of the candle here, the
1468
01:04:37,590 --> 01:04:42,270
low here, okay when I see that, I will
1469
01:04:42,300 --> 01:04:44,910
assume that price is still going to
1470
01:04:45,900 --> 01:04:48,900
respect if you will, this swing low that
1471
01:04:48,900 --> 01:04:51,780
we have the high range here and also now
1472
01:04:51,810 --> 01:04:53,310
this is a little small little trading
1473
01:04:53,310 --> 01:04:57,960
range. So this to me, I would look for a
1474
01:04:58,020 --> 01:05:01,920
bullish move up Okay, now What's this,
1475
01:05:02,040 --> 01:05:04,590
the candle two goes up, I'll have more
1476
01:05:04,590 --> 01:05:06,000
weight on that. And we'll talk a lot
1477
01:05:06,000 --> 01:05:08,430
more in that principle later on. But in
1478
01:05:08,430 --> 01:05:10,170
this example, I would just simply refer
1479
01:05:10,170 --> 01:05:13,950
to the bullish candle up in the cards.
1480
01:05:13,950 --> 01:05:15,570
In other words, this is a White Candle,
1481
01:05:15,570 --> 01:05:16,740
there are two bullish candles as it
1482
01:05:16,740 --> 01:05:19,740
represents in this example, and black
1483
01:05:19,740 --> 01:05:22,320
candles are down. I would spend more
1484
01:05:22,320 --> 01:05:24,300
emphasis looking at the low here. But
1485
01:05:24,300 --> 01:05:26,070
again, going back to our principle that
1486
01:05:26,100 --> 01:05:27,450
we already have a level that's already
1487
01:05:27,450 --> 01:05:29,370
delineated next to that, so there's no
1488
01:05:29,670 --> 01:05:32,970
essential need for us to draw a new
1489
01:05:32,970 --> 01:05:37,980
level. Okay, so we've already delineate
1490
01:05:37,980 --> 01:05:40,410
delineated a specific price point for
1491
01:05:40,410 --> 01:05:43,860
future sensitivity. Price comes up to
1492
01:05:43,860 --> 01:05:46,740
that same level here, creates a swing
1493
01:05:46,740 --> 01:05:50,040
high. We have the lowest lowest here
1494
01:05:50,040 --> 01:05:51,390
which has already been established with
1495
01:05:51,390 --> 01:05:53,040
this level here, so there's no necessity
1496
01:05:53,040 --> 01:05:56,610
to draw a new line. We have a swing low
1497
01:05:56,610 --> 01:05:59,370
here, with the highest of the three
1498
01:05:59,370 --> 01:06:01,860
pattern here. Very close to this level,
1499
01:06:01,860 --> 01:06:04,200
again, no necessity to draw another
1500
01:06:04,200 --> 01:06:07,830
level. And look at the price action.
1501
01:06:07,860 --> 01:06:09,870
It's traded right off of that level. See
1502
01:06:09,870 --> 01:06:13,590
that? See that right there? wonderful,
1503
01:06:13,620 --> 01:06:16,980
beautiful representation of very classic
1504
01:06:16,980 --> 01:06:22,920
price action. I'm going to give you some
1505
01:06:22,980 --> 01:06:26,820
more data that just to show you how
1506
01:06:26,820 --> 01:06:29,340
price had respected the previous levels
1507
01:06:29,340 --> 01:06:31,770
and what had transpired from that price,
1508
01:06:31,980 --> 01:06:40,560
price point. Can you see that? Alright,
1509
01:06:40,980 --> 01:06:43,830
so now, when you look at your charts,
1510
01:06:43,860 --> 01:06:45,000
you're going to be spending a lot of
1511
01:06:45,000 --> 01:06:49,440
time searching for swing points, swing
1512
01:06:49,440 --> 01:06:52,380
highs and swing lows. Okay, looking for
1513
01:06:52,380 --> 01:06:56,040
levels inside of the ranges that create
1514
01:06:56,040 --> 01:06:58,200
those swing highs and swing lows and
1515
01:06:58,200 --> 01:07:00,240
you're going to eventually spend A lot
1516
01:07:00,240 --> 01:07:03,000
of times studying the sensitivity of
1517
01:07:03,090 --> 01:07:07,200
future price action at the specific open
1518
01:07:07,650 --> 01:07:10,140
close high and low of each of the three
1519
01:07:10,140 --> 01:07:12,600
bar pattern. In other words we have
1520
01:07:12,990 --> 01:07:14,520
these three candles here that make up
1521
01:07:14,520 --> 01:07:17,790
the swing low here. Okay, we have an
1522
01:07:17,790 --> 01:07:20,010
opening at this price point and the
1523
01:07:20,010 --> 01:07:22,380
closes down here on this candle. We have
1524
01:07:22,380 --> 01:07:24,630
an opening on this candle and a close
1525
01:07:24,630 --> 01:07:27,390
here. We have an opening here on this
1526
01:07:27,390 --> 01:07:30,690
candle and a close here. Okay. Remember
1527
01:07:30,690 --> 01:07:32,820
I just told you in the opening the the
1528
01:07:32,820 --> 01:07:35,280
highs and lows and close of all three of
1529
01:07:35,280 --> 01:07:38,130
those candles are sensitive. Okay,
1530
01:07:38,130 --> 01:07:39,780
they're very, very key price points.
1531
01:07:40,260 --> 01:07:42,390
Look at the closing price on this candle
1532
01:07:42,390 --> 01:07:45,330
here. The highest price point of all
1533
01:07:45,330 --> 01:07:48,210
three closes. Okay. Let's go out in
1534
01:07:48,210 --> 01:07:51,630
time. Look at what happens. Boom. Look
1535
01:07:51,630 --> 01:07:53,490
at the sensitivity right there. Even
1536
01:07:53,490 --> 01:07:55,590
though we had already leveled out this
1537
01:07:55,620 --> 01:07:58,830
swing price point right here. Price
1538
01:07:58,830 --> 01:08:00,810
stabbed through it. So step through it,
1539
01:08:00,810 --> 01:08:02,340
step through it, step through it, look
1540
01:08:02,340 --> 01:08:03,780
at the bodies of the candle, see how
1541
01:08:03,780 --> 01:08:08,610
that was very, very well
1542
01:08:08,670 --> 01:08:10,920
staved off in terms of not being able to
1543
01:08:10,950 --> 01:08:13,890
go lower. Yes, we whipped through within
1544
01:08:13,890 --> 01:08:16,050
air price action, but look what the bulk
1545
01:08:16,050 --> 01:08:18,180
of the trading was above that level,
1546
01:08:18,510 --> 01:08:20,790
okay, and just simply refer back to this
1547
01:08:20,820 --> 01:08:23,370
closing price. And you can see that is
1548
01:08:23,400 --> 01:08:25,110
very, very close to what was being
1549
01:08:25,620 --> 01:08:28,380
referred to also look at the high of the
1550
01:08:28,380 --> 01:08:31,350
very lowest candle to the high. Look at
1551
01:08:31,350 --> 01:08:34,890
that go out in time. Boom. Okay, look at
1552
01:08:34,890 --> 01:08:38,010
the high of this candle. Okay. Boom.
1553
01:08:38,850 --> 01:08:41,520
Okay, even this candle here came right
1554
01:08:41,520 --> 01:08:43,200
back down to what this price point.
1555
01:08:43,740 --> 01:08:47,280
Okay. So when you're sitting in front of
1556
01:08:47,280 --> 01:08:50,880
a computer, and looking at charts, don't
1557
01:08:50,880 --> 01:08:53,340
blindly just stare at them expecting a
1558
01:08:53,340 --> 01:08:55,680
neon sign to tell you hey, look, here's
1559
01:08:55,680 --> 01:08:58,980
something to do. Or the next trade study
1560
01:08:59,010 --> 01:09:01,650
how price has to Created in the past,
1561
01:09:01,830 --> 01:09:03,690
it'll give you a whole lot of
1562
01:09:03,690 --> 01:09:05,730
information. And it'll give you a lot of
1563
01:09:05,850 --> 01:09:08,340
foundation that you need to be a price
1564
01:09:08,340 --> 01:09:11,010
action trader and essentially, you know,
1565
01:09:11,040 --> 01:09:12,660
putting you ahead of the pack if you
1566
01:09:12,660 --> 01:09:14,340
will, and you'll be able to warm up a
1567
01:09:14,340 --> 01:09:17,310
lot quicker to do more advanced concepts
1568
01:09:17,310 --> 01:09:19,020
that we'll share as we go along.
1569
01:09:24,960 --> 01:09:27,570
Now, above all, it's important to keep a
1570
01:09:27,570 --> 01:09:32,250
balance in this don't become overly
1571
01:09:32,250 --> 01:09:34,740
compulsive feeling you have to be in the
1572
01:09:34,740 --> 01:09:37,290
marketplace, in charts in forums in my
1573
01:09:37,290 --> 01:09:40,110
videos, okay? Your spouse wants to see
1574
01:09:40,110 --> 01:09:41,670
you, okay, and you should be wanting to
1575
01:09:41,670 --> 01:09:43,080
see your spouse and your children as
1576
01:09:43,080 --> 01:09:44,850
well. And your friends want to see you
1577
01:09:44,850 --> 01:09:47,010
to get out there and make sure you have
1578
01:09:47,010 --> 01:09:49,230
a life. Learning this stuff is fun. It's
1579
01:09:49,260 --> 01:09:52,470
It's It's amazing. The rewards you get
1580
01:09:52,470 --> 01:09:54,660
with it. But if you're not engaging the
1581
01:09:54,690 --> 01:09:57,060
other parts of your life, you will be
1582
01:09:57,060 --> 01:09:59,700
coming. You know, it's an unhealthy
1583
01:09:59,700 --> 01:10:02,280
relation. With the marketplace, so don't
1584
01:10:02,280 --> 01:10:03,690
try to think because you got to spend a
1585
01:10:03,690 --> 01:10:07,410
million hours of study in the charts in
1586
01:10:07,410 --> 01:10:09,330
that and beginning it, you're not going
1587
01:10:09,330 --> 01:10:11,070
to get yourself a shortcut. By doing
1588
01:10:11,070 --> 01:10:13,380
that. Yes, it's important to spend time,
1589
01:10:13,440 --> 01:10:14,790
okay. And then my advice is to spend at
1590
01:10:14,790 --> 01:10:16,350
least 30 minutes a day looking at your
1591
01:10:16,350 --> 01:10:18,450
charts. doing the things that we talk
1592
01:10:18,450 --> 01:10:20,670
about overtime will give you skill set
1593
01:10:22,140 --> 01:10:24,510
principles and, and drills and exercises
1594
01:10:24,510 --> 01:10:26,700
to do they'll help you acquire certain,
1595
01:10:27,030 --> 01:10:29,730
you know, price action, understanding,
1596
01:10:30,150 --> 01:10:31,980
but it's not important that you spend
1597
01:10:32,400 --> 01:10:34,560
five or six hours a day I did all that
1598
01:10:34,560 --> 01:10:38,220
stuff. Okay. And yes, I eventually glean
1599
01:10:38,220 --> 01:10:40,050
some things. But in the beginning, it
1600
01:10:40,050 --> 01:10:41,850
was a lot of wasted time, because I just
1601
01:10:41,850 --> 01:10:42,990
simply didn't know what I was looking
1602
01:10:42,990 --> 01:10:44,430
for. Now I know what I'm looking for
1603
01:10:44,430 --> 01:10:47,910
what I know. Now, what I what I should
1604
01:10:47,910 --> 01:10:49,380
have been looking for then my learning
1605
01:10:49,380 --> 01:10:52,050
curve would have been greatly shortened.
1606
01:10:52,320 --> 01:10:53,970
And that's my goal here with you guys.
1607
01:10:54,420 --> 01:10:56,010
So don't try to skip to the front online
1608
01:10:56,010 --> 01:10:56,940
because you're not going to be the one
1609
01:10:56,940 --> 01:11:02,280
that does it. And if you've been trading
1610
01:11:02,280 --> 01:11:03,990
for a while, and you've been trying
1611
01:11:03,990 --> 01:11:05,610
different things, and it hasn't been
1612
01:11:05,610 --> 01:11:07,230
working out for you, I'm going to give
1613
01:11:07,230 --> 01:11:09,540
you the real answer to it. It's not the
1614
01:11:09,540 --> 01:11:11,640
system, and it's not going from one
1615
01:11:11,640 --> 01:11:14,670
system to the next. This is not, the
1616
01:11:14,700 --> 01:11:16,620
hand gets cold, go to the next best
1617
01:11:16,620 --> 01:11:18,990
thing. You're going to quickly learn
1618
01:11:18,990 --> 01:11:21,720
that you are the biggest enemy, you are
1619
01:11:21,720 --> 01:11:24,990
the one that causes all these problems.
1620
01:11:25,650 --> 01:11:28,650
And I know it sounds hard to swallow,
1621
01:11:29,760 --> 01:11:30,570
but you're gonna have to admit
1622
01:11:30,570 --> 01:11:33,150
it. No one else pulls the execution
1623
01:11:33,150 --> 01:11:35,400
trigger but you no one else can do that.
1624
01:11:35,460 --> 01:11:38,130
But you so you're in charge of all these
1625
01:11:38,130 --> 01:11:40,860
decisions. When you understand that
1626
01:11:41,070 --> 01:11:42,750
you're the one in the captain's chair,
1627
01:11:42,780 --> 01:11:44,280
you're the You're the one at the helm,
1628
01:11:44,280 --> 01:11:47,580
if you will, this sink, the ship either
1629
01:11:47,580 --> 01:11:51,000
sinks or sails smoothly based on your
1630
01:11:51,000 --> 01:11:53,820
decision making. Don't think that you
1631
01:11:53,820 --> 01:11:55,950
got to go in here with a perfect system.
1632
01:11:56,070 --> 01:11:57,120
You just need something that's going to
1633
01:11:57,120 --> 01:11:59,520
consistently carve out a expected return
1634
01:11:59,790 --> 01:12:01,890
and then maximize that edge or that
1635
01:12:01,890 --> 01:12:04,530
return to get the outcome that you're
1636
01:12:04,530 --> 01:12:06,720
looking for which is consistent,
1637
01:12:07,260 --> 01:12:10,620
profitable, tip harvesting, that results
1638
01:12:10,650 --> 01:12:12,540
in you being able to eventually move
1639
01:12:12,540 --> 01:12:15,840
into a self sufficient lifestyle where
1640
01:12:15,870 --> 01:12:17,790
all your living living expenses are
1641
01:12:17,790 --> 01:12:19,320
acquired through your trading and your
1642
01:12:19,320 --> 01:12:21,540
decision making in the marketplace.
1643
01:12:25,230 --> 01:12:26,700
Alright, so now what can we expect to
1644
01:12:26,700 --> 01:12:28,830
learn going forward? Well, it's my
1645
01:12:28,830 --> 01:12:30,180
intention, obviously, to share with you
1646
01:12:30,180 --> 01:12:32,010
what I've learned over the last 20 plus
1647
01:12:32,010 --> 01:12:34,500
years. Now, there's going to be a lot of
1648
01:12:34,500 --> 01:12:38,040
mix of not just simply foreign exchange.
1649
01:12:38,340 --> 01:12:39,690
There's going to be a lot of commodity
1650
01:12:39,690 --> 01:12:41,820
information I interweave with this
1651
01:12:41,820 --> 01:12:43,920
because there's a lot of price action
1652
01:12:43,950 --> 01:12:47,040
concepts. It's complimentary to the
1653
01:12:47,040 --> 01:12:50,070
foreign exchange markets. I'm going to
1654
01:12:50,070 --> 01:12:52,440
teach you how you can manage risk and
1655
01:12:52,440 --> 01:12:54,030
trades and how you can target
1656
01:12:54,030 --> 01:12:56,100
consistency. I'm going to teach you
1657
01:12:56,100 --> 01:12:57,720
specifically how to determine which
1658
01:12:57,720 --> 01:13:01,440
direction to trade any pair I also spend
1659
01:13:01,440 --> 01:13:04,860
time with exercises and drills and skill
1660
01:13:04,860 --> 01:13:07,830
sets to help you time low risk and high
1661
01:13:07,830 --> 01:13:10,620
reward entry points. You're going to
1662
01:13:10,620 --> 01:13:12,870
learn how to project in advance high
1663
01:13:12,870 --> 01:13:15,090
odds, profit objectives, where to make
1664
01:13:15,090 --> 01:13:17,880
your profits and how to take profits.
1665
01:13:18,570 --> 01:13:20,010
I'm going to show you how well in
1666
01:13:20,010 --> 01:13:23,130
advance when and where trades will form.
1667
01:13:23,820 --> 01:13:25,500
A lot of questions I get a lot of email
1668
01:13:25,500 --> 01:13:28,020
is they'll ask, you know, I want to know
1669
01:13:28,020 --> 01:13:29,610
when to get in when to get out. Well,
1670
01:13:29,610 --> 01:13:31,380
unless you understand how the trades are
1671
01:13:31,380 --> 01:13:33,300
setting up, the in and out isn't going
1672
01:13:33,300 --> 01:13:35,940
to help you. I'm gonna teach you
1673
01:13:35,940 --> 01:13:37,860
specifically how to attract Smart Money
1674
01:13:37,860 --> 01:13:40,290
traders like the banks, and you're gonna
1675
01:13:40,290 --> 01:13:43,380
learn how to follow them. Now also, I'm
1676
01:13:43,380 --> 01:13:45,000
going to give you a lot of tips on how
1677
01:13:45,000 --> 01:13:46,590
to build your forex business that are
1678
01:13:46,590 --> 01:13:48,630
completely unique to me and my material.
1679
01:13:49,170 --> 01:13:50,940
So I want to understand that this is my
1680
01:13:50,940 --> 01:13:54,300
sincere hope. And it's my goal for you
1681
01:13:54,300 --> 01:13:57,810
to be profitable to be successful, and I
1682
01:13:57,810 --> 01:14:00,000
want your success story. I covered that
1683
01:14:00,570 --> 01:14:02,310
I want you to be able to be successful
1684
01:14:02,310 --> 01:14:04,080
so that we I know you'll be able to move
1685
01:14:04,080 --> 01:14:06,270
forward in life using this information
1686
01:14:06,270 --> 01:14:10,350
to bless other people. When you do, I'm
1687
01:14:10,350 --> 01:14:12,750
not saying that you won't, okay, I'm
1688
01:14:12,750 --> 01:14:14,400
telling you that if you put the time
1689
01:14:14,400 --> 01:14:17,670
into this, you will find success. The
1690
01:14:17,670 --> 01:14:19,020
amount of success is going to be
1691
01:14:19,020 --> 01:14:21,180
obviously dependent upon each individual
1692
01:14:21,180 --> 01:14:23,820
trader and their development. But when
1693
01:14:23,820 --> 01:14:27,600
you do, please share your story with me.
1694
01:14:28,230 --> 01:14:30,720
That's all I'm asking for a simple thank
1695
01:14:30,720 --> 01:14:34,170
you and what you've done for someone
1696
01:14:34,170 --> 01:14:37,290
else, for your family, for a complete,
1697
01:14:37,860 --> 01:14:39,690
perfect stranger, what did you do to
1698
01:14:39,690 --> 01:14:42,510
bless them? You may not be a person of
1699
01:14:42,510 --> 01:14:45,630
faith may not believe in a God. But
1700
01:14:45,630 --> 01:14:47,640
isn't it just nice to know that you did
1701
01:14:47,640 --> 01:14:49,920
something very, very nice for someone
1702
01:14:49,920 --> 01:14:52,980
else and not expect anything in return?
1703
01:14:53,970 --> 01:14:55,470
I can't tell you the wonderful feeling
1704
01:14:55,470 --> 01:14:58,890
that gives me doing things like this and
1705
01:14:58,890 --> 01:15:02,640
I hope that you are are passionate
1706
01:15:02,640 --> 01:15:06,390
enough to return the currency that I'm
1707
01:15:06,390 --> 01:15:09,870
exchanging. I'm giving you my life work
1708
01:15:10,500 --> 01:15:13,350
just for story. And I want you to share
1709
01:15:13,350 --> 01:15:15,450
that with me. And you can always reach
1710
01:15:15,450 --> 01:15:19,200
me at inner circle trader@gmail.com or
1711
01:15:19,260 --> 01:15:23,010
ICT at the inner circle trader calm and
1712
01:15:23,010 --> 01:15:24,840
until I hear from you in the future, or
1713
01:15:24,840 --> 01:15:26,430
when we talk again in the next session.
1714
01:15:26,940 --> 01:15:29,010
I wish you good luck and good trading.