Skip to Content

Wiki source code of ICT-WENT-01.srt

Last modified by Drunk Monkey on 2021-06-10 09:20
Show last authors
1 (% class="hover min" %)
2 |1 |00:00:17,190 ~-~-> 00:00:25,590 |ICT: Okay, guys, what every new and aspiring forex trader wants to know. Now before we begin out, it's very important you understand what I'm about to tell
3 |2 |00:00:25,590 ~-~-> 00:00:35,790 |you. I'm not trying to be egotistical or arrogant about, but I know exactly what you're looking for. I've been trading for 20 years, it's over two decades worth
4 |3 |00:00:35,790 ~-~-> 00:00:45,570 |of real world experience in the trading markets, and not just the Forex market. So I've been exposed really to a lot of the things you probably either just now
5 |4 |00:00:45,570 ~-~-> 00:00:56,970 |getting interested in in terms of technical tools, or concepts, and probably pretty much discarded it at least 80% of the things that you probably are, are
6 |5 |00:00:56,970 ~-~-> 00:01:08,670 |trying to learn now, for technical analysis. It's simply because they do not work. It's my life's passion, really, to acquire some of the most powerful
7 |6 |00:01:08,940 ~-~-> 00:01:19,470 |trading concepts that are available to technical traders. And I've accumulated a pretty good toolbox over the years. And it's my pleasure now to share that with
8 |7 |00:01:19,470 ~-~-> 00:01:19,770 |you.
9 |8 |00:01:27,360 ~-~-> 00:01:36,060 |So you want to be a forex trader? Well, let's first congratulate you with that decision. Because I mean, this from the bottom of my heart, I think this is the
10 |9 |00:01:36,060 ~-~-> 00:01:48,480 |absolute best asset class there is. And that flies in the face of one of my mentors, Larry Williams opinion of the Forex market. Larry Williams has his own
11 |10 |00:01:48,480 ~-~-> 00:02:02,070 |record stating that the foreign exchange market is the worst place to be in. And I've come to realize that's not entirely true. I believe that our mentors
12 |11 |00:02:02,070 ~-~-> 00:02:13,650 |opinions are beneficial to us. But we are never to be locked in to one particular person's perspective. And that goes with me as well. So if I say
13 |12 |00:02:13,650 ~-~-> 00:02:22,530 |something that does not resonate with you, as a developing trader, or someone that has experience, don't let that influence you in not least seeking out that
14 |13 |00:02:22,530 ~-~-> 00:02:34,560 |matter a little bit deeper. I simply don't like bollinger bands, for instance, and you may acquire a taste for using that as a tool. So don't let my insights
15 |14 |00:02:34,590 ~-~-> 00:02:44,880 |discourage you. Okay, from doing further research, I'm confident that even if you deviate from my material, you will come back to if you've sincerely given it
16 |15 |00:02:45,000 ~-~-> 00:03:00,840 |a you know, a thorough going through once or twice. But I think this business is very, very beneficial, okay, to small traders, because if you're trading in the
17 |16 |00:03:00,840 ~-~-> 00:03:11,520 |stock market, how many shares of stock Can you buy of Apple right now, Adidas did a four to one split, I think it was. Now it's like $90 a share at the time
18 |17 |00:03:11,520 ~-~-> 00:03:21,240 |of this recording, but how many how many shares you're going to be able to buy if you have 1000 bucks, not many. And if you're trading a commodity market,
19 |18 |00:03:21,360 ~-~-> 00:03:32,940 |okay, the initial margin on some of those particular asset classes are pretty hefty as well. Okay? So, and plus you're stuck inside of the, the futures
20 |19 |00:03:32,940 ~-~-> 00:03:43,680 |contract specification. And, for instance, you know, if you're trading the currency, the British pound, okay, you're stuck trading, either the midam
21 |20 |00:03:43,680 ~-~-> 00:03:54,120 |contract or the new half of a full contract, or you're trading the large contract. Okay, so you're kind of like forced to trade one or the other. And
22 |21 |00:03:54,150 ~-~-> 00:04:04,050 |either one of them may not even fit your risk parameters that you would need, based on the equity Do you fund your account with that doesn't occur in the
23 |22 |00:04:04,050 ~-~-> 00:04:14,580 |foreign exchange market, when you're trading spot retail, you have the ability to tailor your trading based on your risk adversity and send out words if you
24 |23 |00:04:14,880 ~-~-> 00:04:24,780 |are very, very conservative, and you don't want to trade a whole lot in terms of risk. Okay, you can gear your leveraging down to a very, very small risk. Now
25 |24 |00:04:24,780 ~-~-> 00:04:31,380 |you're not going to make a whole lot of money, okay, but you're not risking a whole lot either. And that's really where you should be at as a developing
26 |25 |00:04:31,380 ~-~-> 00:04:40,710 |trader not focusing on how much money you can make. So there's a lot of rules that we're going to be putting on you Okay, and shaping your mindset as as it
27 |26 |00:04:40,710 ~-~-> 00:04:50,730 |were. Okay for a developing trader and how to build this into your business. But for now, okay, understand that. This is an exciting adventure for you is
28 |27 |00:04:50,730 ~-~-> 00:05:02,760 |something that you could do a very very good living Okay, exceptional living if you if, if you if you do Delve accurately in terms of In the process of becoming
29 |28 |00:05:02,790 ~-~-> 00:05:18,810 |a methodical trader, role based trader, and if you adopt a strong psychological profile for how your trading relates to the neophytes, street traders, okay, and
30 |29 |00:05:18,810 ~-~-> 00:05:26,700 |really, if you're watching this video, you're probably in that category. And it's not to be offensive, we all start there, okay, but if you understand that
31 |30 |00:05:26,730 ~-~-> 00:05:35,730 |you have to, you have to pitch a tent there for a little while, but don't move into that neighborhood, you're going to eventually move out, okay, and move into
32 |31 |00:05:35,730 ~-~-> 00:05:48,090 |a developmental process of developing into a professional trader. So, before we get into all of the specifics, let's go and look at some of the rules, okay to
33 |32 |00:05:48,090 ~-~-> 00:05:52,260 |building a solid foundation as a starting developing trader.
34 |33 |00:05:56,850 ~-~-> 00:06:06,060 |Now, again, I don't mean this to be arrogant, but I know exactly what you're looking for. You're probably watching this video at your job. And or you just
35 |34 |00:06:06,060 ~-~-> 00:06:15,510 |recently got off of work, and you're watching videos that has been shared by me and probably other people on the internet. And you're pretty much daydreaming
36 |35 |00:06:15,540 ~-~-> 00:06:27,390 |about what it would be like to get out of the rat race. And I know exactly how that feels. I've worked some of the most god awful positions in terms of working
37 |36 |00:06:27,390 ~-~-> 00:06:42,180 |class. And I'm pretty much the definition of a working class hero, I was not going to stay in that industry of being a slave, if you will, to demand I'm,
38 |37 |00:06:42,270 ~-~-> 00:06:52,260 |I've never been wired to be subordinate to anyone, not for a long period of time, if you will. I've always been rebellious in a lot of ways as relates to
39 |38 |00:06:52,260 ~-~-> 00:07:06,600 |that. So I've been motivated to always find ways to you provide a means of financial support to myself and my family, and not really be dependent upon, you
40 |39 |00:07:06,600 ~-~-> 00:07:16,020 |know, the guy that calls himself the boss over me needing to call the shots. So I know exactly what you're thinking and know what you're wanting to do. Okay,
41 |40 |00:07:16,020 ~-~-> 00:07:24,570 |and even if you aren't being honest with you, yourself and me, okay, if we were in a room together, some of you may say, Well, not really in this to to get
42 |41 |00:07:24,570 ~-~-> 00:07:35,220 |rich, well, you're probably lying through your teeth. Okay. Everybody wants more money. Okay. And greed is bad. Okay. But it's understandable that you should
43 |42 |00:07:35,220 ~-~-> 00:07:43,890 |want to be able to provide for your family. Okay. And that's what I'm going to give you some skill sets to do. Okay, I can't promise you wealth. Okay, can you
44 |43 |00:07:43,890 ~-~-> 00:07:51,060 |acquire wealth doing these things? Absolutely. But I can't promise everyone being able to do that, because you're all going to develop on a different
45 |44 |00:07:51,540 ~-~-> 00:07:59,220 |timeframes. And some of the skill sets that are going to be shared with you, it's going to have to require work on your part. And you may throw in the towel,
46 |45 |00:07:59,280 ~-~-> 00:08:08,910 |you may get frustrated and quit, you may require more time than others, okay? And it's going to require your use of a demo account, and you probably have
47 |46 |00:08:08,910 ~-~-> 00:08:18,750 |already utilized a demo account a few times now, you probably dusted it, okay, in other words, busted all the pretend money in the account. And I don't want
48 |47 |00:08:18,750 ~-~-> 00:08:30,870 |you to think in that that's, you know, without consequence, there is absolute bad habit forming when you play around in the sandbox in a demo account, unless
49 |48 |00:08:30,870 ~-~-> 00:08:40,740 |you're doing specific skill sets that are inherently designed for you to adopt a, a pain threshold. And then there's some of these skills we're going to be
50 |49 |00:08:40,740 ~-~-> 00:08:48,930 |sharing in drills and exercises. But I want you to understand that when you're in a demo account, you should be treating it like it's your business, okay? It's
51 |50 |00:08:48,930 ~-~-> 00:08:56,910 |like it's your account. And don't open up a demo account with $50,000. So pretend money, because you're most likely chances are never going to be opening
52 |51 |00:08:56,910 ~-~-> 00:09:07,560 |up a forex retail account with $50,000 if you've never traded before, so I don't want you thinking that, you know, the answers are going to be found in forums, I
53 |52 |00:09:07,560 ~-~-> 00:09:14,430 |don't want you thinking that there's going to be this magic pill out there where you swallow it and all of a sudden, you're super trader, there's no specific
54 |53 |00:09:14,790 ~-~-> 00:09:24,960 |method out there. That's perfect mind is not perfect. You're going to lose money doing the things that I do. Okay, but you're going to develop as a extremely
55 |54 |00:09:25,200 ~-~-> 00:09:34,830 |precise trader, if you put the work into the tools I'm sharing and exercises and concepts. I don't want you to think that you have to go into this trading every
56 |55 |00:09:34,830 ~-~-> 00:09:50,010 |single pair that's not needed. Okay. You only need one real particular pair. You may like the Euro, you may like the Aussie US dollar, you might like the cable,
57 |56 |00:09:50,549 ~-~-> 00:10:01,589 |okay, and it's really a personal preference. Whichever one you like, pursue it. trade it for a little while. Learn its characteristics. But you don't need to be
58 |57 |00:10:01,589 ~-~-> 00:10:10,439 |trading a whole lot of pairs. And don't think that you're going to be getting rich real quick, because that's why 90% if you believe the statistics that are
59 |58 |00:10:10,439 ~-~-> 00:10:18,779 |shared with us fail in this business, and it's not just forex, it's trading as a whole. Because everyone goes into it for the same reason. They want to quit
60 |59 |00:10:18,779 ~-~-> 00:10:26,669 |their job this month, they want to do it with no money in the account $500 they're going to be the next guy that retires and makes it to the front of
61 |60 |00:10:26,669 ~-~-> 00:10:36,539 |futures magazine, or you trader magazine this month, okay. And they're going to be the centerfold. I don't want you to think like that. Okay. And if you're
62 |61 |00:10:36,539 ~-~-> 00:10:47,339 |playing a demo account, and you feel that warm, fuzzy feeling, when you get a win on paper trades, don't buy into that, okay? There's chemical reactions that
63 |62 |00:10:47,369 ~-~-> 00:10:56,519 |release in your brain when you when you see yourself being right, what you're teaching yourself, okay? You're teaching yourself that when you overleveraged
64 |63 |00:10:56,549 ~-~-> 00:11:04,439 |with no plan, it might work out. So therefore, that's how you're going to make your money. And that's how you're going to quit your job. And that's not how
65 |64 |00:11:04,499 ~-~-> 00:11:14,909 |professional traders trade. That's not how Working Class Heroes come out of the rat race, and leave that that slave mentality to be a self sufficient,
66 |65 |00:11:15,059 ~-~-> 00:11:27,239 |independent thinking, profit producing trader. Okay, Daddy equation never evolves to professional, consistent trader, okay, that is a gambler. That's the
67 |66 |00:11:27,269 ~-~-> 00:11:37,349 |folks that go into account, with live funds dusted in 30 to 90 days, okay, that's statistics. That's proof. That's what happens. And we're in the business
68 |67 |00:11:37,379 ~-~-> 00:11:48,389 |of avoiding that, okay? Every business goes into the beginning, with the intent of making a profit. 80% of businesses go into it with no plan, and they fail.
69 |68 |00:11:48,719 ~-~-> 00:11:55,319 |Okay, so don't be surprised if that's how you go into forex trading, if you have no plan, and you're just playing around demo account, and you think it's gonna
70 |69 |00:11:55,319 ~-~-> 00:12:03,359 |be like lottery, okay? Don't watch these videos, okay, because really, you're wasting your time. And you're really, you're really doing a disservice to
71 |70 |00:12:03,359 ~-~-> 00:12:16,739 |yourself and a certain measure of disrespect, because I'm putting a lot of emphasis on tools and concepts for you to be in powered by, but not to be you
72 |71 |00:12:16,739 ~-~-> 00:12:24,119 |cherry pick, don't go through this material, and pick out what you like, go through all that. Now, there may be tools and concepts that don't resonate with
73 |72 |00:12:24,119 ~-~-> 00:12:34,919 |you. But I have a couple of them for each stage of analysis. And you can find one that really resonates with you and run with that. But I don't want you to
74 |73 |00:12:34,919 ~-~-> 00:12:43,199 |think that you have to be getting rich quick. That's not what you need to be thinking here. And if you've been thinking like that, I want to ask you, where
75 |74 |00:12:43,199 ~-~-> 00:12:51,569 |have you gotten with that mindset, you still working your job, you're probably more miserable now than you did before you found 4x because it was one of those
76 |75 |00:12:51,629 ~-~-> 00:13:02,099 |one more dead in opportunities. One more could have been, but it's too good to be true type thing. And I guarantee you, by the time I'm done with you, you're
77 |76 |00:13:02,099 ~-~-> 00:13:18,149 |going to realize that forex is not one of those things at all. Now know you've been thinking you're probably smiling right now. But think about it. You've been
78 |77 |00:13:18,179 ~-~-> 00:13:27,779 |thinking about the likelihood of making your annual salary inside of a couple months, how well you're going to look amongst your friends, how well you're
79 |78 |00:13:27,779 ~-~-> 00:13:36,989 |going to look amongst the opposite sex, maybe your spouse would be much more impressed with you, maybe your in laws will love you more. Okay, but the bottom
80 |79 |00:13:36,989 ~-~-> 00:13:51,179 |line is, those things are external. Okay, those things are things that are going to cause you to feel like you have to weigh your performance to be significant.
81 |80 |00:13:51,449 ~-~-> 00:14:00,509 |And that's not what you're doing this for, okay? You want to be trading as a business. I don't see fast food chains. Think about it like this.
82 |81 |00:14:01,200 ~-~-> 00:14:11,700 |McDonald's. Just about every person on every continent knows who Ronald McDonald is. Even though they started their business, and they framed it with a
83 |82 |00:14:11,700 ~-~-> 00:14:23,250 |foundation of a clown of all things to have as your mascot. Did they go in clowning around as a business? No way. They use that trademark image of a clown.
84 |83 |00:14:23,760 ~-~-> 00:14:31,800 |But they're absolutely dead serious about making profits. And man, they make profits. They do very, very well. That's how you should be thinking you want to
85 |84 |00:14:31,800 ~-~-> 00:14:43,620 |be thinking, How can I go forward as a business owner, okay, with no employees except for you. Okay? And you need to be going into this with that mindset
86 |85 |00:14:43,620 ~-~-> 00:14:55,380 |thinking I'm going to be turning this into a future long term business. I'm going to be replacing my income with this very concept of extracting funds from
87 |86 |00:14:55,380 ~-~-> 00:15:05,250 |the foreign exchange market. But it's going to come with work you He's going to have to come with a lot of effort. And it's going to be expensive. I don't
88 |87 |00:15:05,250 ~-~-> 00:15:18,150 |charge money. But I promise you, I'm going to charge you time. Because I have to force patience and a lot of you, it was forced of me. That's how I learned. The
89 |88 |00:15:18,150 ~-~-> 00:15:27,330 |best things come with adversity. And you're going to learn that your greatest lessons are going to come with pain, submit to the pain, submit to the
90 |89 |00:15:27,330 ~-~-> 00:15:38,790 |adversity, and above all, submit the time, you're going to need to relinquish this necessity to being right. Because when you start looking at the right side
91 |90 |00:15:38,790 ~-~-> 00:15:48,120 |of that chart, and not knowing what to anticipate or expect, if you haven't done the work with other skill sets, and the drills that we're going to be doing, you
92 |91 |00:15:48,120 ~-~-> 00:15:57,660 |won't have the foundation to rely on knowing what to anticipate, you're going to be reacting like everyone else does in the retail market and lose their shirts.
93 |92 |00:16:06,480 ~-~-> 00:16:15,240 |Alright, forget what you think, you know. Now, if you are one that likes to dabble in other people's methods, and or resources, and you'd like to blend,
94 |93 |00:16:16,020 ~-~-> 00:16:25,860 |well, that doesn't work with me, okay? So it's going to require you to empty the glass, okay? or forget it all together. Because if you come into my material,
95 |94 |00:16:26,070 ~-~-> 00:16:37,080 |and you want to cherry pick, you aren't going to get the benefit of the full immersion that's required to get the macro view down to the micro view. Okay.
96 |95 |00:16:37,320 ~-~-> 00:16:48,690 |And by having this willingness on your part, to just simply let go of everything you think, you know, okay, and I understand it can be hard, okay, but I can't
97 |96 |00:16:48,690 ~-~-> 00:17:00,600 |stress it enough that it took a lot for me to undo a lot of the things I learned. In the beginning, I thought I was really being taught by some of the
98 |97 |00:17:00,600 ~-~-> 00:17:08,400 |best traders in the world by buying everyone's book out there. Because if they read a book, obviously, they must know something that you know, I don't, well,
99 |98 |00:17:08,400 ~-~-> 00:17:18,510 |what they did was, they knew I would be buying that book. And those particular people were making their living off of buying new selling books, like, you know,
100 |99 |00:17:18,510 ~-~-> 00:17:27,630 |I was there their customer. And I'm confident that the majority of those authors were never really successful traders, or even trade the markets ever. And I've
101 |100 |00:17:27,630 ~-~-> 00:17:36,150 |been to pretty much everything that's available out there. And pretty much seen everything there is as it relates to trading, not only on the retail level, but
102 |101 |00:17:36,150 ~-~-> 00:17:45,390 |on an institutional level decide that most people aren't really privy to, I spent a lot of money for my education, much more than I should have. And I can
103 |102 |00:17:45,390 ~-~-> 00:17:55,230 |tell you, the majority of it was a waste of money and time, a lot of the lessons I learned, and I did have a handful of mentors. No, no, don't get me wrong. And
104 |103 |00:17:55,230 ~-~-> 00:18:04,050 |I have a video on the internet that discusses where I learned my materials from and how they inspired me to get some of the other insights I gleaned from just
105 |104 |00:18:04,050 ~-~-> 00:18:13,890 |simply going to the marketplace on a daily basis, looking for opportunities. But I have been through everything and digested everything that's pretty much
106 |105 |00:18:13,890 ~-~-> 00:18:21,930 |available as it is now. And even still to this day, I buy courses and books, simply because I have the resources to do it too. I had the time to go through
107 |106 |00:18:21,930 ~-~-> 00:18:29,550 |it in three, I just want to see if there really is any truth to the scripture that says there really is nothing new under the sun. And I can tell you there
108 |107 |00:18:29,550 ~-~-> 00:18:39,180 |really isn't anything new out there. It's just regurgitated, you know, for lack of a better word crap, okay, that hasn't worked, doesn't show any form of
109 |108 |00:18:39,180 ~-~-> 00:18:48,240 |consistency. And it's the same old Carnival trick where they show things that look like they've worked on the left side of the chart. But the ability for you
110 |109 |00:18:48,240 ~-~-> 00:18:58,710 |to find that on the right side of chart is pretty much fleeting, and far and few between. What I have discovered is that because everyone's drinking from that
111 |110 |00:18:58,710 ~-~-> 00:19:11,010 |same Well, the water sources tainted. And it wasn't until I took a step back and more or less, looked at everything backwards, everything became much more clear.
112 |111 |00:19:11,400 ~-~-> 00:19:23,460 |And it was further confirmed when I got involved with folks that were much, much more knowledgeable than I am. And they pretty much tapped me into a perspective
113 |112 |00:19:23,490 ~-~-> 00:19:30,570 |and looking at the marketplace that is completely and utterly unique. If you look at the books, they all tell us where to put our stop loss. And they all
114 |113 |00:19:30,570 ~-~-> 00:19:39,150 |tell us when to buy and sell. But that's exactly where everyone puts their trades on and loses. Think about it. If that's the case, why are we doing that?
115 |114 |00:19:39,510 ~-~-> 00:19:49,770 |Because you're being trained like a good sheep to go out and get slaughtered. Think about it. That's what's been going on all along. But nobody is willing to
116 |115 |00:19:49,770 ~-~-> 00:20:02,130 |admit what's been set up all along. You are being programmed to lose money. It's my goal to really shock you Because I don't want you to go into the thinking
117 |116 |00:20:02,310 ~-~-> 00:20:10,200 |that this business was created, okay for you to come in and make money. It's not, this was not designed for you to come in and make money. This is a
118 |117 |00:20:10,260 ~-~-> 00:20:14,730 |playground for the banks, and you are sheep for the slaughter.
119 |118 |00:20:15,360 ~-~-> 00:20:25,020 |If you understand how the banks operate, how the dealers operate, how the market makers manipulate the marketplace, you can ride on their coattails. But I don't
120 |119 |00:20:25,020 ~-~-> 00:20:32,820 |want you thinking simply because you've read a book, or you bought a course, or you went to a workshop, or you went to a seminar, I don't care how much you paid
121 |120 |00:20:32,820 ~-~-> 00:20:41,370 |for it, how good different mentors are. Don't think that that's all you're going to require to go in here and start making money, you need to have a little bit
122 |121 |00:20:41,370 ~-~-> 00:20:50,610 |more information, and sometimes a peek behind the curtain. And I'm pretty much the only one in the internet that really breaks it down in such a way where a it
123 |122 |00:20:50,610 ~-~-> 00:21:00,540 |does sound like conspiracy theory, but to I can back it up with how the price moves, how, why it moves, when it moves, and how consistently, you know, it
124 |123 |00:21:00,540 ~-~-> 00:21:14,460 |occurs. And I've developed concepts to more or less methodically explain how those individual components are stage by stage by stage step by step, how they
125 |124 |00:21:14,460 ~-~-> 00:21:23,550 |unfold, what sets it up, why it's unfolding. And it really, when people are watching my videos and some of my analysis concepts that are before the fact it
126 |125 |00:21:23,550 ~-~-> 00:21:32,550 |blows them away. And let me again, I'm not trying to be pompous. But it's just, that's the shock value. When you understand how the markets trade, when you are
127 |126 |00:21:32,550 ~-~-> 00:21:41,970 |involved with someone that really knows what goes on behind the scenes, if you will. It's very, very exciting. When you see the things that are discussed as
128 |127 |00:21:42,090 ~-~-> 00:21:52,380 |probable result reactions or expectations and it unfolds to the tee. It's very impressive to neophyte in layman's, and sometimes to even traders that have been
129 |128 |00:21:52,380 ~-~-> 00:22:02,220 |around for a while, the level of precision that are that's acquired, okay, with these skill sets, it's again, equally, if not more impressive to those because
130 |129 |00:22:02,220 ~-~-> 00:22:10,170 |they understand how hard it is for them to, to pull money out of the marketplace. As a new trader, you really don't know that you think it's like
131 |130 |00:22:10,170 ~-~-> 00:22:18,840 |going out and pulling an apple off the tree. Okay, or pulling, you know, a stack of 15 out of the money tree you think is existing in the Forex market, you're
132 |131 |00:22:18,840 ~-~-> 00:22:28,260 |just seeing through roast, rose colored glasses, everything looks the same to you. And it looks like you know, easy money. If you don't have a plan, I
133 |132 |00:22:28,260 ~-~-> 00:22:35,310 |guarantee it's gonna be a nightmare for you. Okay, and we're going to build on that as we go. But I want you to understand right now, where you're at on the
134 |133 |00:22:35,310 ~-~-> 00:22:47,010 |food chain, and how you're gonna be able to move yourself from being a sheep to a predator. Okay, and now officially, I want to walk me to your new beginning,
135 |134 |00:22:47,010 ~-~-> 00:22:58,470 |because we are about to set some ground rules for you. And I understand that we as human beings don't necessarily like rules. And if you look at the signs that
136 |135 |00:22:58,470 ~-~-> 00:23:06,750 |put on your next door neighbor's lawn, they'll say, Please don't walk on our lawn, and you're walking your dog, and what do you want to do? You want your dog
137 |136 |00:23:06,750 ~-~-> 00:23:15,630 |to go walk across the lawn, or you want to step on that lawn inherently, that's our nature, we want to do the very things we're not supposed to do. Okay. I want
138 |137 |00:23:15,630 ~-~-> 00:23:27,180 |you to leave your ego at the door. Okay? Don't, don't judge me. Don't judge the material until you've gone through it. And don't think that you're something
139 |138 |00:23:27,180 ~-~-> 00:23:38,340 |that you really aren't. Okay? I'm not impressed by people sending me emails saying that they've been trading for x y years. And they've been doing XYZ of
140 |139 |00:23:39,090 ~-~-> 00:23:46,260 |trading method and it does this and it does that. I'm not interested in if you if you're that type of person, okay.
141 |140 |00:23:46,710 ~-~-> 00:23:55,410 |Again, I'm not in this for you to teach me anything. Okay. I'm in the business of sharing my experience with you. And it's because I are just going to be an
142 |141 |00:23:55,410 ~-~-> 00:24:04,800 |exchange hopefully in time. I want your story. I want your success story. I want you to share it with me. That's why I share my real email addresses with you. I
143 |142 |00:24:04,800 ~-~-> 00:24:14,550 |spent a lot of time because of my interest is really pegged to what you do with this information. And I want you to be a blessing to someone else in the future.
144 |143 |00:24:14,790 ~-~-> 00:24:23,100 |I don't want any money from you. I'm not charging any any subscription fees or any I'm not selling you webinars and seminars and books and all this. I'm not
145 |144 |00:24:23,100 ~-~-> 00:24:33,870 |doing those things. What I'm doing is I'm exchanging a relationship for a future reward. That's what I want. I want to know what you did with this information to
146 |145 |00:24:33,870 ~-~-> 00:24:44,250 |help someone else. It may be helped them buy a house, it may be in by them groceries, it may be helping someone that lost the job get reestablished, okay,
147 |146 |00:24:44,280 ~-~-> 00:24:56,430 |or it may be just, you know, giving to a charity and helping you someone that's less fortunate than you are. Okay, and in that to me is what we've been placed
148 |147 |00:24:56,430 ~-~-> 00:25:07,230 |on this earth for to help our neighbors okay. and treat everyone like they're our family. And that's, that's the motive for me doing all this, okay, I get
149 |148 |00:25:07,230 ~-~-> 00:25:17,550 |questions all the time, why am I doing this? Why am I spending so much time doing these things without any monetary exchange, I get more return with thank
150 |149 |00:25:17,550 ~-~-> 00:25:25,620 |yous, because that's really all I'm looking for is the Thank you, and the future story of your success. I get more from that than you could ever do give me
151 |150 |00:25:25,620 ~-~-> 00:25:35,670 |money. I don't need your money. I don't want your money, your your story and your inspiration, okay, that you share with me. And I've had a lot of
152 |151 |00:25:35,670 ~-~-> 00:25:46,500 |individuals Give me that over the last 17 years of teaching, okay. I've had a lot of relationships on the internet. And many times, I'm brought to tears with
153 |152 |00:25:46,530 ~-~-> 00:26:00,030 |the you the sheer inspiration that is been given to me by those that have done the things that I was hoping they would do with this information. And yes, I've
154 |153 |00:26:00,030 ~-~-> 00:26:09,180 |seen some people go out and try to put it in, in in the things and sell it. And when I find out who they are, I go in and I try to tear down their their
155 |154 |00:26:09,180 ~-~-> 00:26:19,380 |business model because I'll make available, you know, my time and tear down their, their, their their business plan to take what I give away for free, I go
156 |155 |00:26:19,380 ~-~-> 00:26:31,980 |out and I more or less cut your throat to do it for free, and take away their paying subscribers and just welcoming them into our fold as as free. Members,
157 |156 |00:26:31,980 ~-~-> 00:26:40,710 |there's no, there's no charging of anything with me. And I don't again, because I don't need your money. And I'm thankful for all those that take part in the
158 |157 |00:26:40,710 ~-~-> 00:26:52,200 |currency that I've adopted for doing this, which is your Thank you, and your stories of inspiration, what you've done with the information. But there's
159 |158 |00:26:52,200 ~-~-> 00:27:00,270 |something I want us all to understand going into this. As a trader, it's going to be important you understand what type of trader you are. And it's going to
160 |159 |00:27:00,270 ~-~-> 00:27:10,740 |come with some understanding of some internal dialogue, you need to ask yourself a lot of questions. Are there specific to developing traders? Okay. Are you
161 |160 |00:27:10,740 ~-~-> 00:27:22,080 |someone that procrastinates? Okay, do you change your mind a lot? Does it take very little change your mind, if you think like that, that tells you a specific
162 |161 |00:27:22,080 ~-~-> 00:27:35,040 |profile of trading is going to suit you better than another real quick decision making? Are you an irritable person that flies off the handle real quick, you
163 |162 |00:27:35,040 ~-~-> 00:27:43,470 |would be excellent scalper or day trader because you can see these minor reactions in the marketplace and make a decision based on that. Okay. If you're
164 |163 |00:27:43,470 ~-~-> 00:27:53,430 |very slow to make a decision, you're ponder a lot. It takes a lot of thought, you know, it takes a whole lot of influence for you to make a decision and
165 |164 |00:27:53,430 ~-~-> 00:28:02,970 |change your mind about something. You're a wonderful position trader, long term trader, if you're pretty much a happy go lucky guy and or gal, and you're pretty
166 |165 |00:28:02,970 ~-~-> 00:28:13,830 |much you go with the flow, you could be a very good swing trader. Don't underestimate the power of doing this personal study, and I'm encouraging you to
167 |166 |00:28:13,830 ~-~-> 00:28:22,050 |do this for a week, spend some time about some of the things that you think about how you react with your family, your spouse, your co workers, okay? How do
168 |167 |00:28:22,050 ~-~-> 00:28:31,170 |you feel about, you know, all the things that you engage on a daily basis and the decision making process that you use to go along throughout your day? Are
169 |168 |00:28:31,170 ~-~-> 00:28:37,500 |you quick, are you slow, okay, are you pretty much even tempered, and you pretty much can go
170 |169 |00:28:38,760 ~-~-> 00:28:48,570 |in any environment and not really fly off the handle, and not really get too lethargic about making decision. If you are really balanced. That type of trader
171 |170 |00:28:48,600 ~-~-> 00:28:59,040 |is, in my opinion, the best because he can or she can position trade, swing trade, short term trade, day trade and scalp, okay. And that's really where we
172 |171 |00:28:59,040 ~-~-> 00:29:07,110 |want to get to. And if you are an erratic, short term thinker, you could start off as a scalper and day trader, but eventually develop into that balanced
173 |172 |00:29:07,110 ~-~-> 00:29:16,440 |trader where you can trade all timeframes. And the same thing about that slow pondering decision making long term trader, we can give you skill sets to move
174 |173 |00:29:16,440 ~-~-> 00:29:26,520 |you closer to a more balanced way of thinking where you can change your mind a little bit shorter term and not have to require so much in terms of influence to
175 |174 |00:29:26,640 ~-~-> 00:29:28,650 |decide whether or not you will be a buyer seller.
176 |175 |00:29:33,930 ~-~-> 00:29:48,900 |Now, we're going to be requiring you to utilize a demo account and I don't want you to misrepresent the concepts, okay and share new results that I'm not going
177 |176 |00:29:48,900 ~-~-> 00:29:58,050 |to be impressed by. Okay. The demo account trading is not for you to send me pictures or screenshots to say look, I made this much money on paper money,
178 |177 |00:29:58,290 ~-~-> 00:30:06,540 |okay, where I made this many pips. Your demo account is simply for you to look at. Nobody is supposed to be looking over your shoulder right now, unless it's
179 |178 |00:30:06,540 ~-~-> 00:30:12,210 |your spouse or your business partner that you're going to be going into business with later on down the road, if you don't have enough money to go into this with
180 |179 |00:30:12,210 ~-~-> 00:30:24,000 |my funds, but I don't want you also to going into a demo account with more money than you intend to trade with. Okay. And that may be a little bit of a
181 |180 |00:30:24,000 ~-~-> 00:30:33,570 |constraint, because some of you may have less than $5,000, that your entire year that you intend to trade with. In that case, there's a lot of demo accounts, you
182 |181 |00:30:33,570 ~-~-> 00:30:42,600 |can open it with 5000. If that's the case, whatever your demo account balances, when you open it up, only trade with the leverage that you would be able to
183 |182 |00:30:42,600 ~-~-> 00:30:52,530 |trade with using the operating x equity, you would have no words, if you're gonna have $1,000, then that's all you use, regardless of how much free margin
184 |183 |00:30:52,530 ~-~-> 00:30:59,790 |you have. In that demo account. You're not teaching yourself anything except for bad habits by over leveraging or doing things that you wouldn't be doing with
185 |184 |00:30:59,790 ~-~-> 00:31:10,380 |the amount of money you plan to fund your Live account with over time. Do not underestimate the power of making bad habits form with demo account trading.
186 |185 |00:31:10,680 ~-~-> 00:31:23,160 |Okay, demo account trading is given to you as a free tool by brokers. Now, I want you to think about this. Why would they do that? Because if you went into
187 |186 |00:31:23,160 ~-~-> 00:31:33,120 |this, with real, real live funds, would not understand what you're doing, you'd lose your mind right away. And you would, you wouldn't feel good about none of
188 |187 |00:31:33,120 ~-~-> 00:31:40,620 |it. Okay? Well, your first losing trade, you would close your your trade your trading account be done with it, what happens is, is they give you a demo
189 |188 |00:31:40,620 ~-~-> 00:31:48,630 |account, and you play around in the demo account, you overleveraged you take a million trades in one day, and your mind is only going to focus on one of the
190 |189 |00:31:48,630 ~-~-> 00:31:58,050 |good ones, the winning trades. And it's just like anything else, a casino? Everyone out and everyone knows that 90% of people that go into a casino lose
191 |190 |00:31:58,050 ~-~-> 00:32:06,510 |their money. So why do people go into the casinos by the bus loads, they fly out to Vegas, they fly out to Atlantic City, they go, you know, around the world to
192 |191 |00:32:06,540 ~-~-> 00:32:17,640 |know this real high end casinos. Why? Because they want to be that one winner, they want to have that one winning experience. They want to have that, that rush
193 |192 |00:32:17,670 ~-~-> 00:32:29,490 |of having had that, that that winner's mentality, even if it's just for one time they want that excitement, the what if it does happen factor? Well, I don't want
194 |193 |00:32:29,490 ~-~-> 00:32:37,740 |you to have in that as a trader, especially as a developing trader, I want you to understand that you are a losing trader, every single time you put a trade on
195 |194 |00:32:38,610 ~-~-> 00:32:48,900 |every trader is a losing trader. As soon as they click the execution, when a click to get into that market, they are a loser from the beginning, okay. And we
196 |195 |00:32:48,900 ~-~-> 00:32:57,870 |all have to trade out of that losing position. And how well we're able to do that defines our longevity, and our career as a trader, treat the demo account,
197 |196 |00:32:57,930 ~-~-> 00:32:59,790 |like it's your business equity.
198 |197 |00:33:04,260 ~-~-> 00:33:13,260 |Alright, now it's time to be honest. Now, you've probably been playing with a $50,000 demo account, and he's over traded you over leveraged just to see what
199 |198 |00:33:13,260 ~-~-> 00:33:23,130 |happens. Now, when you get these emotional charges from doing that, what it's doing is mentally reinforcing the depth the goal, you want to feel good about
200 |199 |00:33:23,130 ~-~-> 00:33:32,970 |the trading. That's not how you develop as a trader, you want to remove the emotion, you don't want to have emotional attachment to the trades. Take the
201 |200 |00:33:32,970 ~-~-> 00:33:44,220 |emotion out by keeping the leverage low. It's not about making a lot of money fast. It's about making consistent money over time. I promise you as we work
202 |201 |00:33:44,220 ~-~-> 00:33:54,000 |towards the end goal here, you'll see very quickly that you only need a small amount of equity, a small amount of return and a lot of consistency and to do
203 |202 |00:33:54,000 ~-~-> 00:34:01,800 |very, very well. And it doesn't take a whole lot of effort really or work to be consistent. But it does take a lot of patience, okay, and it's going to be a
204 |203 |00:34:01,800 ~-~-> 00:34:09,900 |paradigm shift, it's going to be needed. Okay for some of you have that have already wasted a lot of time playing around in demo accounts. Okay, forget all
205 |204 |00:34:09,900 ~-~-> 00:34:17,880 |that nonsense. You need to understand that this is going to be an expensive journey. You need to forget your ego, take all those things and leave it at the
206 |205 |00:34:17,880 ~-~-> 00:34:28,380 |door. You are a new trader, you're a completely blank slate. And your demo account is representative of the decision making process that you are going to
207 |206 |00:34:28,500 ~-~-> 00:34:39,570 |develop as a new trader, and how you interact with the marketplace based on the equity that you intend to trade with. And the leverage that's used with sound
208 |207 |00:34:39,720 ~-~-> 00:34:54,030 |risk management and money management. Now, obviously, you've heard me say we're not trying to get rich quick, because in the beginning, you don't run, you learn
209 |208 |00:34:54,030 ~-~-> 00:35:03,840 |to crawl. Then you learn to stand. Try not to fall down and when you do fall down, try not to get hurt. too badly. Then you walk and you walk briskly, and
210 |209 |00:35:03,840 ~-~-> 00:35:12,120 |then you can run, then eventually you can sprint. But all too often everyone puts their money in the account and they sprint and they just quickly lose all
211 |210 |00:35:12,120 ~-~-> 00:35:20,250 |their money. You don't need a whole lot of pips don't think that it's the that's the answer. Okay. I see a lot of guys that sell their wares on the internet
212 |211 |00:35:20,250 ~-~-> 00:35:31,590 |that, you know, our system makes 20,000 pips a year, okay, I've made 80% accuracy with 80 80 million pips in the last five years. You don't need a lot of
213 |212 |00:35:31,590 ~-~-> 00:35:46,050 |pips, okay? If you can consistently carve out a specific return a very low and return, okay, mind you, if you consistently do that and you manage your money
214 |213 |00:35:46,110 ~-~-> 00:35:55,410 |appropriately, you're going to use the compounding effect, to build your equity over a period of time. And you don't need a whole lot of money, you don't need a
215 |214 |00:35:55,410 ~-~-> 00:36:06,000 |lot of return, percentage wise. So discard whole that whole mentality that you need a whole lot of pips, discard the whole, I got to trade every single day.
216 |215 |00:36:06,030 ~-~-> 00:36:18,720 |That's not that's not essential. Okay? What you need to be thinking is, I can do a very, very good career with less than several 100 pips per month. And I'm
217 |216 |00:36:18,720 ~-~-> 00:36:20,040 |going to show you that as we go.
218 |217 |00:36:25,950 ~-~-> 00:36:36,240 |Now, it's important that you stay rooted in the reality of who you are, as a trader, don't go into this with a development process, and when Shouldn't you
219 |218 |00:36:36,240 ~-~-> 00:36:46,800 |start seeing consistency, don't let your head inflate, okay, you're not, you're not going to get anywhere by inviting ego as the same thing as emotion by having
220 |219 |00:36:46,800 ~-~-> 00:36:56,610 |that come into your trading. And at the end of that development, okay, you're going to plague your development, you're gonna you're going to cause pitfalls,
221 |220 |00:36:56,880 ~-~-> 00:37:05,580 |okay, that are just waiting to open up a swell you don't go into the forums and measure yourself against everyone else. Don't go in there bragging that you've
222 |221 |00:37:05,580 ~-~-> 00:37:14,610 |been, you've been the superstar student, okay. And you've done x, y, z results with the information so that, you know, therefore, you know, you're better than
223 |222 |00:37:14,610 ~-~-> 00:37:23,790 |everyone else. Okay? I'm not impressed by that. In fact, I'll shoot you down in private email or a pm if I see he's doing it. Okay. Because it's not beneficial
224 |223 |00:37:23,790 ~-~-> 00:37:31,110 |to you. Nobody wants to hear it anyway. It doesn't make them feel good about themselves. It looks arrogant, it looks pompous. But more importantly, it's
225 |224 |00:37:31,110 ~-~-> 00:37:38,940 |detrimental to your development, because you what you're doing is you're inflating your ego. You don't want that to happen. Okay? There, when you enter
226 |225 |00:37:38,940 ~-~-> 00:37:48,990 |the marketplace, you are sheep every single time until you close the trade is a profit. Okay, and then that's what makes you a predator. That's when you leave
227 |226 |00:37:49,290 ~-~-> 00:37:59,100 |the sheep level of the food chain, and you go up to the higher level where you're the apex predator. So you might think right now, okay, you might have the
228 |227 |00:37:59,100 ~-~-> 00:38:06,360 |right stuff. But I promise you, if you have that mentality, and you're very egotistical, your tombstones already been carved out with your name in it,
229 |228 |00:38:06,390 ~-~-> 00:38:14,010 |you're going to be in the traders graveyard, you will be in that graveyard of people that does their account, it's just going to be a matter of time, because
230 |229 |00:38:14,010 ~-~-> 00:38:20,040 |you're inviting ego, you're inviting fear and greed and emotions are going to be responsible, okay for your downfall.
231 |230 |00:38:25,710 ~-~-> 00:38:35,460 |Alright, I've already said it earlier, but you got to relax. It doesn't take much. Now I know. You probably hear a lot of guys talking about how many pips
232 |231 |00:38:35,490 ~-~-> 00:38:45,870 |they've made over the last week or two or today or yesterday, or the last year. Don't fall into that trap. Okay, don't fall in that trap. I'm going to show you
233 |232 |00:38:45,870 ~-~-> 00:38:56,730 |how you can make less than 25 pips per week. And that's Yes, total for the whole week, risking no more than 2% you can more than double your account every single
234 |233 |00:38:56,730 ~-~-> 00:39:06,630 |year. Now, how do you do that? All you have to do is earn a measly Oh 6% return per month. Now, some of us that have been around this business for a while are
235 |234 |00:39:06,630 ~-~-> 00:39:16,290 |in speculation. 6% return is astronomical. Okay. But I know some of you aren't impressed by that. Because you're thinking, if I'm going to open up my account
236 |235 |00:39:16,290 ~-~-> 00:39:27,270 |with $200 and I double it in a year, I'm only going to have $400 Plus I got to pay taxes on that money. Then the next year, my $400 is going to double to $800
237 |236 |00:39:27,360 ~-~-> 00:39:36,540 |How am I going to get rich doing that? Well, it's not about thinking getting rich quick. I've already told you that. But if you are able to do this, if you
238 |237 |00:39:36,540 ~-~-> 00:39:50,790 |think like this, if you have $1,000 of speculative capital, you allow time to do its work. making less than 25 pips, okay. It works out to be about 23 pips if
239 |238 |00:39:50,790 ~-~-> 00:40:01,710 |you do the math. If you do that, okay and say you average 25 pips, you would be turning that $1,000 inside of 10 years. You have made over a million dollars
240 |239 |00:40:02,250 ~-~-> 00:40:13,320 |doing this approach. Now I'm going to ask you something, do you see yourself 10 years from now? Okay? Having a million dollars doing what you do knowing what
241 |240 |00:40:13,320 ~-~-> 00:40:23,820 |you know, going to the job that you go to work every single day? Do you see yourself having $1,000,000.10 years from now? If that's not true, okay, then you
242 |241 |00:40:23,820 ~-~-> 00:40:32,280 |need to make some changes. Ask yourself this, say hit say you've been messing around with forex in the last couple of years and years never found any stride.
243 |242 |00:40:32,280 ~-~-> 00:40:42,840 |You're just spinning your wheels. How can you feel good about what you've done with your time? Obviously, it's, it's demoralizing. And I know what that feels
244 |243 |00:40:42,840 ~-~-> 00:40:50,760 |like. I've went through that I've done that not with forex, but with with futures trading, I got lucky going in initially, then I had to learn how to be a
245 |244 |00:40:50,760 ~-~-> 00:41:00,420 |trader, okay, because I lost money. And then I had to forget a lot of things. It's painful, that's painful. I could have made a whole lot more money than I
246 |245 |00:41:00,420 ~-~-> 00:41:11,340 |have. Now. If I would have known the things I'm sharing with you right now for free. But ego got in my way. And then fear again, got in my way. And then
247 |246 |00:41:11,340 ~-~-> 00:41:23,490 |desperation. And I was, you know, I was I went through every possible scenario. But I want you to answer a question. If you've been a losing trader, I want to
248 |247 |00:41:23,490 ~-~-> 00:41:36,360 |ask you, even if you only made five pips, okay? profit for the whole month, wouldn't it be better than you have right now. Now imagine if you slowly build
249 |248 |00:41:36,360 ~-~-> 00:41:46,920 |it a point where you can consistently make 6% a month and you're doubling your money every year. Banks right now are paying less than a quarter percent. If you
250 |249 |00:41:46,920 ~-~-> 00:42:01,080 |can get that for a whole year. And you can turn 100 pips a month with 2% risk, you're doubling your money every single year. That's phenomenal. If you did just
251 |250 |00:42:01,080 ~-~-> 00:42:16,650 |3%. That's phenomenal. Okay, in terms of returns, you can carve out an amazing career, but it's going to take discipline, consistency, and time. If you haven't
252 |251 |00:42:16,650 ~-~-> 00:42:27,840 |been consistently drawing, a return that's comparable to this. My question is this. How are you feeling now thinking that it only took this much in terms of
253 |252 |00:42:28,230 ~-~-> 00:42:37,680 |return in terms of pips as well per month? To be able to who who account? Did you double your account last year? How about the year before that? How about are
254 |253 |00:42:37,680 ~-~-> 00:42:46,920 |you on track this year to double your account. I'm not teaching that you have to dump your account guys on this stating that this is what you can expect, with
255 |254 |00:42:46,920 ~-~-> 00:42:50,700 |very, very low expectations, and realistic returns in mind.
256 |255 |00:42:56,490 ~-~-> 00:43:08,880 |Avoid the traders graveyard guys, I want to leave you with some really important points here as it relates to over trading and over leveraging. I've been a
257 |256 |00:43:08,880 ~-~-> 00:43:19,530 |victim of this, in my trading as a futures trader, I know what it's like to just totally decimate your accounts. And the SSA accounts. I was plural. I've went
258 |257 |00:43:19,530 ~-~-> 00:43:31,770 |through a lot of money, trying to do the get rich quick stuff. And even though I had a winning system, my over leveraging undermined it. And it caused me to get
259 |258 |00:43:31,770 ~-~-> 00:43:40,020 |out of trades sooner than I should have, or hold on to with losing trades longer than I should have. And what would have been a minor loss became a huge loss.
260 |259 |00:43:40,260 ~-~-> 00:43:51,450 |Okay. And that's what it's all about, you know, you got to keep your risk low. Keep your over leveraging at bay don't overload your account. And you understand
261 |260 |00:43:51,540 ~-~-> 00:44:01,950 |by the previous discussion we had about having 25 pips or less with 2% risk, that's 6% return per month compounded over the year, that's more than 100%
262 |261 |00:44:01,950 ~-~-> 00:44:11,940 |return in your account. There's no rush for you to get rich, quick, okay. doctors don't come out of med school right away making a million dollars, okay,
263 |262 |00:44:11,940 ~-~-> 00:44:20,790 |they got to get their practice started. They got to grow into that field as well. But they're paying an arm and a leg, no pun intended for the education to
264 |263 |00:44:20,790 ~-~-> 00:44:30,150 |get to be a practitioner of medicine, you are going to have to put that time in as well. And you can't avoid it. And you can't make shortcuts with overtrading
265 |264 |00:44:30,240 ~-~-> 00:44:42,750 |and over leveraging. It never works. Trust me. Just don't do it. Now it doesn't require long hours. And they allow you guys think you got me in front your
266 |265 |00:44:42,750 ~-~-> 00:44:52,200 |charts all the time. If you see this little picture. That was me. That was me as a new trader. Okay, I would work 13 hours a day that's spent on teen hours,
267 |266 |00:44:52,200 ~-~-> 00:45:03,750 |okay, you know, throughout the week, looking at charts, and having very little sleep and then going back out and going to work again. So my biggest advice to
268 |267 |00:45:03,750 ~-~-> 00:45:13,380 |you, if that's what you're thinking is Don't, don't think that. Okay, here's what I'd like you to do, I would like you to do another little study. And I want
269 |268 |00:45:13,380 ~-~-> 00:45:27,000 |you to bracket out, one on your charts. Mark out seven in the morning, New York time, to 10 o'clock in the morning, New York time. And I want you to mark out
270 |269 |00:45:27,330 ~-~-> 00:45:38,340 |two o'clock in the morning, New York time, and four o'clock in the morning, New York time, just those two little windows of time. And I want you to look at what
271 |270 |00:45:38,520 ~-~-> 00:45:49,920 |takes place on a daily basis. And do that for a month, I want you to determine how much of a move took place and what time this moves began and when they ended
272 |271 |00:45:50,190 ~-~-> 00:46:01,590 |each day. And I want you to understand that those three hours twice a day is all you need. And you only need one of those per day. Okay, you only need one of
273 |272 |00:46:01,590 ~-~-> 00:46:17,280 |those per week. You only need one of those per month to make that 6%. If you do, you're leveraging your risk management and your trade selection properly. Now
274 |273 |00:46:17,280 ~-~-> 00:46:25,860 |think about it. How does that contrast that what you think right now that you got to be trading every single day, every session, and you got to make a million
275 |274 |00:46:25,860 ~-~-> 00:46:33,360 |pips Quickly, quickly, this is becoming much more reasonable and realistic, don't you think?
276 |275 |00:46:43,380 ~-~-> 00:46:53,070 |Okay, let's look at a chart and discuss some of the things that are beneficial as a foundation, do some of my materials, and also give you something to really
277 |276 |00:46:53,070 ~-~-> 00:47:05,940 |study on a daily basis when you're looking at your charts. It's probably something you may not have noticed if you're a new trader. But this chart
278 |277 |00:47:05,940 ~-~-> 00:47:16,290 |actually gives you a whole lot of information just staring at the candlesticks themselves and the way price action moves within each swing. The pattern I'm
279 |278 |00:47:16,290 ~-~-> 00:47:26,880 |going to show you now is very very important going forward, it's going to be referred to a lot in my material. And it's actually the framework for a lot of
280 |279 |00:47:26,880 ~-~-> 00:47:37,050 |the price action analysis concepts that you're gonna learn through all the coursework that I'm presenting here, we're gonna be talking about swing points,
281 |280 |00:47:37,110 ~-~-> 00:47:53,640 |okay, and swing points are really defined as such, we're going to show you this is one candle and to the left of it will be another candle, and to the right of
282 |281 |00:47:53,640 ~-~-> 00:48:07,800 |that will be another. Okay, and this is a crude depiction of a swing high. Okay, swing highs delineated by a lower high on the left, and a lower high on the
283 |282 |00:48:07,800 ~-~-> 00:48:23,970 |right, with a higher candle in the middle. Okay. And you probably guessed, a swing low is simply a low to has two higher lows surrounding it noise you have
284 |283 |00:48:23,970 ~-~-> 00:48:35,610 |one higher low on the left, one higher low on the right. Okay. Sometimes when we are in technical circles, and we're discussing swing points, many times you'll
285 |284 |00:48:35,610 ~-~-> 00:48:43,230 |hear a swing low represented by having something like this.
286 |285 |00:48:48,690 ~-~-> 00:49:02,070 |Okay, and they, in other circles, the teacher or share ideas, they'll say that this is a swing low because it's qualified by having two higher lows on the
287 |286 |00:49:02,070 ~-~-> 00:49:17,190 |right and two higher lows on the left. To me, as long as we have the three bar pattern here, that's sufficient enough for me. And if you are relying on the
288 |287 |00:49:17,190 ~-~-> 00:49:26,430 |marketplace to give you that much time, the markets already really moved away from an ideal location down here for entry. Okay, so what I'm teaching you is
289 |288 |00:49:26,430 ~-~-> 00:49:37,110 |I'm trying to train your eye to look at where swing points occur and how they form and how you can get very, very close to the reaction points where price is
290 |289 |00:49:37,110 ~-~-> 00:49:45,990 |going to be moving aggressively up or down away from those particular price points. So now what you want to do is you want to pick i right now have an
291 |290 |00:49:45,990 ~-~-> 00:49:57,570 |Australian USD h four or in other words, a chart comprised of each candle delineating four hours worth of time, okay, so in other words, every vertical
292 |291 |00:49:57,570 ~-~-> 00:50:07,260 |line, or vertical candle, represent Four hours worth of time. Okay, so this is the highest high in that four hour period, and this is the lowest low in that
293 |292 |00:50:07,260 ~-~-> 00:50:14,130 |four hour period. Okay? Now what I want you to do is when you go through your charts, okay, this could be in any timeframe, but I use the four hour simply
294 |293 |00:50:14,130 ~-~-> 00:50:21,660 |because I like the four hour it can be used for day trading and can be used for swing trading, short term trading, even position trading, if you know what
295 |294 |00:50:21,660 ~-~-> 00:50:31,110 |you're looking for in terms of higher level support resistance. But for now, what we're gonna look at is run, discuss the importance very briefly, and we're
296 |295 |00:50:31,110 ~-~-> 00:50:41,550 |gonna build on this obviously, as we go along. But I want you to notice that you have a lower high to the left of this candle, and we have a lower high to the
297 |296 |00:50:41,550 ~-~-> 00:50:51,810 |right of this candle. Okay, so that makes it this three bar pattern. In other words, this candle, this candle, and this candle, a swing high. Okay, so we're
298 |297 |00:50:51,810 ~-~-> 00:51:06,900 |going to take that swing high, and we're going to look at to price points as it relates to this. Okay, see that what I've delineated here is the range from the
299 |298 |00:51:06,900 ~-~-> 00:51:18,270 |highest high and the lowest low, that make up that entire three bar pattern. Okay, see that, this is the lower of the three candles, if this candle in the
300 |299 |00:51:18,270 ~-~-> 00:51:27,120 |middle was lower than this candle on the right of the three bar pattern, then I would have that level noted there, but the lowest. In other words, in terms of
301 |300 |00:51:27,120 ~-~-> 00:51:35,550 |the total range between all three candles combined, where's the highest high, where's the lowest low, that's what we're looking for. Okay? You want to have
302 |301 |00:51:35,550 ~-~-> 00:51:44,850 |this in your mind as you're looking at your charts. Now, you're going to see very quickly doing this, you could have a whole lot of lines on your chart, but
303 |302 |00:51:45,210 ~-~-> 00:51:53,250 |the concept is what we're trying to arrive at. So that way, when you can clearly see the swing points on your chart, you won't need to have this many lines on
304 |303 |00:51:53,250 ~-~-> 00:52:05,580 |your chart, okay. But this is one particular range that is influential, okay, to our price action analysis concepts. Okay, every price point between the high and
305 |304 |00:52:05,580 ~-~-> 00:52:15,270 |low, okay, on each candle being the low, the high, the open and close of each candle is also a sensitive price point. Okay, but for now, we're just gonna
306 |305 |00:52:15,270 ~-~-> 00:52:27,600 |identify the total range that makes up that swing high. The same thing occurs when we look at swing lows, okay, we have a swing low, here we have a low with a
307 |306 |00:52:27,750 ~-~-> 00:52:40,590 |lower low and a higher low. Okay, see that, here's that three bar pattern. Okay, now we're going to do is we're going to delineate that. And then we're gonna use
308 |307 |00:52:40,590 ~-~-> 00:52:57,450 |the high because it's this candle. Let's change the color of that just to differentiate. Okay, we're using the high candle here of the three bar pattern.
309 |308 |00:52:57,450 ~-~-> 00:53:09,570 |So this is the highest of the range. And this candles low is the lowest. Okay? Now watch what happens. Now we've delineated that range, okay, so we have a
310 |309 |00:53:09,570 ~-~-> 00:53:19,530 |swing low and a swing high. Okay. So now what we're doing is we're, we're breaking the market down, and we're looking for potential reaction points. Okay.
311 |310 |00:53:19,980 ~-~-> 00:53:28,560 |This swing low, you can see clearly, later in time, price came up to that same price level and look what happened. Did it stay there very long. Absolutely not.
312 |311 |00:53:28,920 ~-~-> 00:53:45,660 |And the market repelled and went lower. Okay. So now, let's go back and go through some more examples. And we're going to ferret out another swing low.
313 |312 |00:53:51,540 ~-~-> 00:54:01,770 |Okay. And what I've done is I've noted this swing low, so you have a candle with a low with a higher low on the left and a higher candle on the right. Okay, so
314 |313 |00:54:01,860 ~-~-> 00:54:14,220 |off all three candles, okay, one has the low with a higher low on either side. It's only taking three candles to do that. Okay. Now, you're probably asking why
315 |314 |00:54:14,220 ~-~-> 00:54:23,310 |am I skipping over this little one here? Because this would be a swing low. Yes. Well, it's because we're looking at this is a Sunday. Okay, so it kind of like,
316 |315 |00:54:23,730 ~-~-> 00:54:33,510 |take that into interior equation. When you have these little, little tiny Sundays. I guess the general rule of thumb would be if we have a big range
317 |316 |00:54:33,540 ~-~-> 00:54:45,600 |Sunday, then I would use it but if it's a real small little candle, usually it's typical of a Sunday. Dan, I won't factor that in. But for now, we're just gonna
318 |317 |00:54:45,600 ~-~-> 00:54:56,460 |look for the most obvious swing points. Okay. So again, using the premise that we've already established, the candle highs and candles low. We have a swing low
319 |318 |00:54:56,460 ~-~-> 00:55:06,120 |here. we've mapped up the highest point and the lowest point and you draw that out a little bit now. And obviously, you want to have these levels in mind,
320 |319 |00:55:06,210 ~-~-> 00:55:16,170 |okay, as you look at your chart, okay, and again, going back to the the premise that if we put every single line that's available using this concept on your
321 |320 |00:55:16,170 ~-~-> 00:55:26,400 |chart, you will quickly be inundated with so many levels, it would be it would be confusing to you, okay, but you'll see, after a period of time, you'll adopt
322 |321 |00:55:26,460 ~-~-> 00:55:38,070 |an eye for price swings, and the ones that are going to be more useful to you will become obviously much more apparent as time goes on. Okay, but right now,
323 |322 |00:55:38,070 ~-~-> 00:55:48,360 |in the beginning, you don't have that understanding, or the ability to see what you should be seeing, okay, and this is how you develop the eye for it. Okay. So
324 |323 |00:55:48,360 ~-~-> 00:56:00,690 |we have the swing low here, movement up the highest high and the lowest low. We have a swing high here. Okay, we have swing low, we have no swing low in here.
325 |324 |00:56:00,780 ~-~-> 00:56:10,650 |Okay, but look at what we've done here, we've, we've made this price point, just like this, okay? swing low, a higher, low and higher low on either side of it.
326 |325 |00:56:11,760 ~-~-> 00:56:22,260 |Why would be? Why would we look at this level, and this level, when we're pretty much very close to it with this range already see that? Okay, so when price
327 |326 |00:56:22,260 ~-~-> 00:56:30,930 |levels are very close like that, I just use the ones that are very clear. And this is a pretty important swing low versus this one. Okay, so this swing low is
328 |327 |00:56:30,930 ~-~-> 00:56:40,620 |occurring inside of the range that's been established by this swing low here, guys from the low range low to the range high, this short term swing lows inside
329 |328 |00:56:40,620 ~-~-> 00:56:52,170 |of that range. So This to me is going to be subordinate or less influential in terms of future prognostication. In terms of price action, this range is going
330 |329 |00:56:52,170 ~-~-> 00:57:03,210 |to be much more significant later on. Okay, so now what we're, we're going to apply strength, okay. factors to which price points we use for swing highs and
331 |330 |00:57:03,210 ~-~-> 00:57:19,050 |swing lows. Okay. So now we have a swing high. Okay. And we're going to use our different color. Just let me delineate that as well. Okay, and see what we have
332 |331 |00:57:19,050 ~-~-> 00:57:35,310 |here. This big break down here, the lowest low in the three bar pattern. Okay, for the swing high, is this candle here? Okay, look at all the price trading
333 |332 |00:57:35,310 ~-~-> 00:57:43,710 |that takes place around that price point. Okay, look at the open closings of these candles, look at the highs, the Dubai's of the candles in here, okay, you
334 |333 |00:57:43,710 ~-~-> 00:57:53,340 |had some reaction in here as well later on. And that's all working within this dealing range between this low and this high. Okay, and again, what we're
335 |334 |00:57:53,340 ~-~-> 00:58:03,660 |mapping out is the swing highs, extreme points, okay. And you can see, look at the body of the candle here, see, we wikked through the previous swing high
336 |335 |00:58:03,660 ~-~-> 00:58:11,970 |here. Notice we didn't do a whole lot of trading there, the bodies of the candles were both below that. Okay, so these are, these are the building blocks,
337 |336 |00:58:12,030 ~-~-> 00:58:20,910 |if you will, to understanding very, very advanced price action concepts that you're going to learn later on. But for now, what we're gonna be doing is
338 |337 |00:58:21,330 ~-~-> 00:58:31,020 |getting you used to seeing the price swings, and swing highs and swing lows and mapping them out so that we can see future price sensitivity to those same
339 |338 |00:58:31,020 ~-~-> 00:58:40,890 |particular levels. And by understanding what you're doing, by applying these concepts, you'll start to see and anticipate really, which is which, which is
340 |339 |00:58:40,890 ~-~-> 00:58:43,380 |the powerful concept that you should be gleaning from this
341 |340 |00:58:44,670 ~-~-> 00:58:53,610 |learning to anticipate price rejections once it trades these levels because if price was able to repel away from that particular level at a earlier time,
342 |341 |00:58:53,880 ~-~-> 00:59:09,450 |chances are that probably we'll see that same effect happen at a later time. Okay, so we have a swing high here, okay. And I'm going to show you the lows are
343 |342 |00:59:09,450 ~-~-> 00:59:20,400 |pretty much equal right in here. Okay, this low and this low of the three bar pattern that makes the swing high up. We have price sensitivity right there,
344 |343 |00:59:20,520 ~-~-> 00:59:32,340 |beautifully done beautifully. Okay, comes back up again. Okay, and it trades through this level and trades right back up into what level this sensitive
345 |344 |00:59:32,340 ~-~-> 00:59:48,810 |level, okay? then it creates another swing high. Okay, see that. So now we're going to have low slow things over here a little bit. Confusion you too much. So
346 |345 |00:59:48,810 ~-~-> 00:59:55,890 |we have a swing high in here. Okay, and the lowest low and just for completeness sake, again,
347 |346 |01:00:03,689 ~-~-> 01:00:12,209 |Is it my show that but it is what it is ran to reveal it to get to the chart where I need it.
348 |347 |01:00:18,180 ~-~-> 01:00:32,070 |Okay, so here is the, the higher that swing high, or that the extreme upper range of the high right here and the low. Okay, so we have this candle, this
349 |348 |01:00:32,070 ~-~-> 01:00:40,440 |candle and this candle making this swing high, the lowest price point is right here. Okay, so inside these two price points, there should be future
350 |349 |01:00:40,440 ~-~-> 01:00:52,080 |sensitivity, okay? Again, keying off of the open high low and close of the three bars, or three candles that make up the swing high and swing low. Okay, we have
351 |350 |01:00:52,110 ~-~-> 01:01:01,230 |a swing low in here. And what we'll do is we'll mark that out.
352 |351 |01:01:06,570 ~-~-> 01:01:19,380 |And the highest high inside the swing low between this candle, this candle and this candle, the highest high is here, and the lowest lows here. Okay, so we'll
353 |352 |01:01:19,380 ~-~-> 01:01:28,830 |be looking for future sensitivity inside of that range. Okay, and you can see there was a very nice swing low formed here violated it just a little bit. Okay,
354 |353 |01:01:29,130 ~-~-> 01:01:36,930 |and then what would it be for another swing low, notice we're not going to need to draw another line, because this level is already represented with this level
355 |354 |01:01:36,930 ~-~-> 01:01:50,100 |back here, okay? In this high candle, okay, is already dealing with this range here. So see how this price swing is subordinate. Okay, inside of this swing
356 |355 |01:01:50,100 ~-~-> 01:02:00,570 |low, so there's no necessity for us to fine tune any levels in here because it's already been pre determined with the range from this swing low. Okay, now we
357 |356 |01:02:00,570 ~-~-> 01:02:11,070 |have this swing high, okay, see that we have a high, a higher high and a lower high. So we have high with to lower candles to either side of it. Okay, so
358 |357 |01:02:11,070 ~-~-> 01:02:24,660 |making that three bar swing high pattern we like to look for. So when you see that, what we can do again is you take your your levels here and you draw that
359 |358 |01:02:28,740 ~-~-> 01:02:37,110 |and what I'm doing is it's gathering this candle here because I really want to show the the very clean symmetry that's presented with this sample set in terms
360 |359 |01:02:37,110 ~-~-> 01:02:52,980 |of price action. And looking at the lowest low it's this candle here because this is the lowest candle between all three candles of the sweet and high
361 |360 |01:02:52,980 ~-~-> 01:03:03,990 |pattern. Okay, and let's just go forward a little bit we have a new swing low down here.
362 |361 |01:03:10,500 ~-~-> 01:03:27,180 |So we have this low here and the highest high of the swing load pattern is right here. So here's the three bar pattern low Okay, the highest price point in three
363 |362 |01:03:27,750 ~-~-> 01:03:36,630 |candles is this price point and lowest lows here okay and we're going to be looking for set price sensitivity going forward okay and now we have a unique
364 |363 |01:03:38,700 ~-~-> 01:03:54,810 |opportunity okay to show you where price creates kind of like a muddy little swing point okay. See all these price points are basically the same okay. If you
365 |364 |01:03:54,810 ~-~-> 01:04:13,200 |look very carefully you have price essentially trading almost at the same price point okay see that if you look real close this candles slightly higher than
366 |365 |01:04:13,200 ~-~-> 01:04:24,870 |this one and this one okay. And again we have that same like Sunday phenomena I guess with these small little candles. So, when I have something like this, what
367 |366 |01:04:24,870 ~-~-> 01:04:36,600 |I do is I look at the overall consolidation. Okay, I see the bodies in the wicks case Yeah, the wick is here, the body of the candle here the body of the candle
368 |367 |01:04:36,600 ~-~-> 01:04:51,120 |here, below here, okay, when I see that, I will assume that price is still going to respect if you will, this swing low that we have the high range here. And
369 |368 |01:04:51,120 ~-~-> 01:05:03,660 |also now this is a little small little trading range said this. To me, I would look for the bullish move up. Okay, now What's this, the candle that goes up,
370 |369 |01:05:03,990 ~-~-> 01:05:13,560 |I'll have more weight on that. And we'll talk a lot more on that principle later on. But in this example, I would just simply refer to the bullish candle up in
371 |370 |01:05:13,560 ~-~-> 01:05:22,350 |the cards. In other words, this is a White Candle there, the bullish candles as it represents in this example, and black candles are down, I would spend more
372 |371 |01:05:22,350 ~-~-> 01:05:29,370 |emphasis looking at the low here. But again, going back to our principle that we already have a level that's already delineated next to that, so there's no
373 |372 |01:05:29,670 ~-~-> 01:05:43,980 |essential need for us to draw a new level. Okay? So we've already dylaney delineated a specific price point for future sensitivity. Price comes up to that
374 |373 |01:05:43,980 ~-~-> 01:05:53,490 |same level here creates a swing high. We have the lowest lows here, which has already been established with this level here, it says no necessity draw new
375 |374 |01:05:53,490 ~-~-> 01:06:07,140 |line, we have a swing low here, with the highest of the three pattern here, very close to this level, again, no necessity to draw another level. And look at the
376 |375 |01:06:07,140 ~-~-> 01:06:22,500 |price action. It's traded right off of that level. See that? See that right there? wonderful, beautiful representations of very classic price action. Give
377 |376 |01:06:22,500 ~-~-> 01:06:36,480 |you some more data that does this show you how price had respected the previous levels and what had transpired from that price at price point. Can you see that?
378 |377 |01:06:40,230 ~-~-> 01:06:52,200 |Alright, so now, when you look at your charts, you're going to be spending a lot of time searching for swing points, swing highs and swing lows. Okay, looking
379 |378 |01:06:52,200 ~-~-> 01:07:03,540 |for levels inside of the ranges that create those swing highs and swing lows. And you know, eventually spent a lot of time studying the sensitivity of future
380 |379 |01:07:03,540 ~-~-> 01:07:14,670 |price action at the specific open, close high and low of each of the three bar pattern. In other words, we have these three candles here that make up this
381 |380 |01:07:14,670 ~-~-> 01:07:25,980 |swing low here. Okay, we have an opening at this price point and the closes down here on this candle. We have an opening on this candle and a close here. We have
382 |381 |01:07:25,980 ~-~-> 01:07:36,150 |an opening here on this candle and a close here. Okay. Remember I just told you the opening, the the highs, the lows and close of all three of those candles are
383 |382 |01:07:36,150 ~-~-> 01:07:48,000 |sensitive. Okay, they're very, very key price points. Look at the closing price on this candle here. The highest price point of all three closes. Okay, let's go
384 |383 |01:07:48,000 ~-~-> 01:07:58,830 |out in time. Look at what happens. Boom, look at the sensitivity right there. Even though we had already leveled out this swing price point right here. Price
385 |384 |01:07:58,830 ~-~-> 01:08:04,860 |stab through it, stat through it, step through it, step through it, look at the bodies of the candle, see how that was very, very
386 |385 |01:08:07,680 ~-~-> 01:08:17,730 |well, staved off in terms of not being able to go lower. Yes, we whipped through within air price action, but look what the bulk of the trading was above that
387 |386 |01:08:17,730 ~-~-> 01:08:28,290 |level. Okay, and just simply refer back to this closing price. And you can see that is very, very close to what was being referred to also look at the high of
388 |387 |01:08:28,290 ~-~-> 01:08:41,340 |the very lowest candle to the high. Look at that go out in time. Boom. Okay, look at the high of this candle. Okay, boom. Okay, even this candle here came
389 |388 |01:08:41,340 ~-~-> 01:08:53,340 |right back down to what this price point. Okay. So when you're sitting in front of computer and looking at charts, don't blindly to stare at them expecting a
390 |389 |01:08:53,340 ~-~-> 01:09:03,720 |neon sign to tell you, hey, look, here's something to do, or the next trade, study how price has traded in the past. And I'll give you a whole lot of
391 |390 |01:09:03,720 ~-~-> 01:09:12,690 |information. And it'll give you a lot of foundation that you need to be a price action trader and essentially, you know, putting you ahead of the pack if you
392 |391 |01:09:12,690 ~-~-> 01:09:19,050 |will, and you'll be able to warm up a lot quicker to do more advanced concepts that we'll share as we go along.
393 |392 |01:09:24,960 ~-~-> 01:09:37,290 |Now, above all, it's important to keep a balance in this don't become overly compulsive feeling. You have to be in the marketplace in charts and forums in my
394 |393 |01:09:37,290 ~-~-> 01:09:45,180 |videos, okay. Your spouse wants to see you. Okay, and you should be wanting to see your spouse and your children as well. And your friends want to see you to
395 |394 |01:09:45,600 ~-~-> 01:09:54,690 |get out there and make sure you have a life. Learning this stuff is fun. It's It's It's amazing. The rewards you get with it. But if you're not engaging the
396 |395 |01:09:54,690 ~-~-> 01:10:03,690 |other parts of your life, you will be coming. You know it's an unhealthy relation. With the marketplace. So don't try to think because you got to spend a
397 |396 |01:10:03,690 ~-~-> 01:10:13,380 |million hours of study in the charts in that and beginning it, you're not going to get yourself a shortcut. By doing that, yes, it's important to spend time
398 |397 |01:10:13,440 ~-~-> 01:10:22,800 |again, my advice is to spend at least 30 minutes a day, looking at your charts. doing the things that we talk about overtime, will give you skill set principles
399 |398 |01:10:22,800 ~-~-> 01:10:33,570 |and, and drills and exercises to do they'll help you acquire certain price action understanding. But it's not important that you spend five or six hours a
400 |399 |01:10:33,570 ~-~-> 01:10:42,510 |day I did all that stuff, okay. And yes, I eventually glean some things. But in the beginning, it was a lot of wasted time, because I just simply didn't know
401 |400 |01:10:42,510 ~-~-> 01:10:49,770 |what I was looking for. Now I know what I'm looking for, how do I know? Now, what I would I should have been looking for, then my learning curve would have
402 |401 |01:10:49,770 ~-~-> 01:10:57,300 |been greatly shortened. And that's my goal here with you guys. So don't try to skip to the front of the line, because you're not going to be the one that does
403 |402 |01:10:57,300 ~-~-> 01:11:07,770 |it. And if you've been trading for a while, and you've been trying different things, and it hasn't been working out for you, I'm going to give you the real
404 |403 |01:11:07,770 ~-~-> 01:11:18,330 |answer to it. It's not the system, and it's not going from one system to the next. This is not, the hand gets cold, go to the next best thing, you're going
405 |404 |01:11:18,330 ~-~-> 01:11:30,270 |to quickly learn that you are the biggest enemy, you are the one that causes all these problems. And I know it sounds hard to swallow. But you're gonna have to
406 |405 |01:11:30,270 ~-~-> 01:11:40,680 |admit it, no one else pulls the execution trigger, but you, no one else can do that. But you. So you're in charge of all these decisions. When you understand
407 |406 |01:11:40,680 ~-~-> 01:11:50,910 |that, you're the one in the captain's chair, you're the You're the one at the helm, if you will, this sink, the ship either sinks or sales smoothly based on
408 |407 |01:11:50,910 ~-~-> 01:11:58,440 |your decision making. Don't think that you got to go in here with a perfect system, you just need something that's going to consistently carve out a
409 |408 |01:11:58,440 ~-~-> 01:12:09,300 |expected return. And then you maximize that edge or that return to get the outcome that you're looking for which is consistent, profitable, tip harvesting,
410 |409 |01:12:09,600 ~-~-> 01:12:18,720 |that results in you being able to eventually move into a self sufficient lifestyle where all your living living expenses are acquired through your
411 |410 |01:12:18,720 ~-~-> 01:12:29,910 |trading and your decisions making in the marketplace. Alright, so now what can we expect to learn going forward? Well, it's my intention, obviously, to share
412 |411 |01:12:29,910 ~-~-> 01:12:39,120 |with you what I've learned over the last 20 plus years. Now, there's going to be a lot of mix of not just simply foreign exchange. But there's going to be a lot
413 |412 |01:12:39,120 ~-~-> 01:12:50,010 |of commodity information I interweave with this because there's a lot of price action concepts that's complementary to the foreign exchange markets. I'm going
414 |413 |01:12:50,010 ~-~-> 01:12:57,720 |to teach you how you can manage risk, and trades and how you can target consistency. I'm going to teach you specifically how to determine which
415 |414 |01:12:57,720 ~-~-> 01:13:10,560 |direction to trade any pair. And I also spend time with exercises and drills and skill sets to help you time low risk and high reward entry points. You're going
416 |415 |01:13:10,560 ~-~-> 01:13:20,730 |to learn how to project in advance high odds profit objectives, where to make your profits and how to take the profits. And I show you how well in advance
417 |416 |01:13:21,150 ~-~-> 01:13:29,610 |when and where trades will form. A lot of questions I get a lot of email is they'll ask, you know, I want to know when to get in when to get out. Well,
418 |417 |01:13:29,610 ~-~-> 01:13:38,880 |unless you understand how the trades are setting up the in and out isn't going to help you. I teach specifically how to attract Smart Money traders, like the
419 |418 |01:13:38,880 ~-~-> 01:13:47,850 |banks, and you're gonna want to follow them. Now also, I'm going to give you a lot of tips on how to build your forex business that are completely unique to me
420 |419 |01:13:47,850 ~-~-> 01:13:58,770 |and my material. So I want you to understand that this is my sincere hope. And it's my goal for you to be profitable, to be successful. And I want your success
421 |420 |01:13:58,770 ~-~-> 01:14:06,840 |story I covered that. I want you to be able to be successful so that we I know you'll be able to move forward in life using this information to bless other
422 |421 |01:14:06,840 ~-~-> 01:14:07,320 |people.
423 |422 |01:14:09,180 ~-~-> 01:14:19,020 |When you do i'm not saying that you won't. Okay, I'm telling you that if you put the time into this, you will find success. The amount of success is going to be
424 |423 |01:14:19,020 ~-~-> 01:14:30,360 |obviously dependent upon each individual trader and their development. But when you do, please share your story with me. That's all I'm asking for a simple
425 |424 |01:14:30,360 ~-~-> 01:14:42,510 |thank you and what you're done for someone else, for your family for a complete, perfect stranger. What did you do to bless them? You may not be a person of
426 |425 |01:14:42,510 ~-~-> 01:14:54,150 |faith may not believe in a God. But isn't it just nice to know that you did something very, very nice for someone else and not expect anything in return. I
427 |426 |01:14:54,150 ~-~-> 01:15:07,290 |can't tell you the wonderful feeling that gives me doing things like this and I hope that you are passionate enough to return the currency that I'm exchanging.
428 |427 |01:15:08,190 ~-~-> 01:15:20,550 |I'm giving you my life work just for story. And I want you to share that with me. And you can always reach me at inner circle trader@gmail.com or ICT at the
429 |428 |01:15:20,550 ~-~-> 01:15:29,010 |inner circle trader calm and until I hear from you in the future, or when we talk again in next session. I wish you good luck and good trading.