LostAndFound-video-5.srt

Last modified by Drunk Monkey on 2022-11-10 06:39

Outline

00:02 - Progress with the Barley Trust Bank.

01:35 - Have you experienced such a drawdown that you’re contemplating giving up?

04:08 - Risk management is not a myth -.

06:36 - You think you can take eight trades in a single week the week?

09:21 - Control the amount of money you put up and control yourself.

11:42 - Look at trader #2’s first loss.

13:41 - You have to assume some kind of risk in this business.

16:43 - Trader 1 had a drawdown of $1,300 on eight losses. Not one of the eight was a winner.

18:32 - You have to control the amount of risk in your account.

20:47 - How to get back to your maximum risk exposure.

Transcription

1 00:00:02,730 --> 00:00:21,900 ICT: possible to a little bit of progress with the barley Trust Bank oil rich we have ShotSpotter boiled down by automatic get the officer up.
2 00:01:29,250 --> 00:01:40,710 Alright guys, handling losses and inevitable draw downs. Sorry, man, it was bound to happen, right? I mean, this was you when you had your moneybags in
3 00:01:40,710 --> 00:01:49,050 hand, you're off to the races running and all of a sudden, boom, you tripped and you fell on your face? Man, listen, all of us do it. And if you haven't done it
4 00:01:49,050 --> 00:01:56,400 yet, give it some time. It's going to happen to you. Now, did you really think you're going to be the one that never gets hit with a string of losses? I mean,
5 00:01:56,400 --> 00:02:06,960 come on. Welcome to the real world trading. How did this impact your equity? Did you single handedly orchestrate your personal Armageddon? Hopefully not. But
6 00:02:06,960 --> 00:02:15,330 have you experienced such a drawdown that you're contemplating giving up? Maybe stopping trading altogether? Or worse yet? Have you drained yourself
7 00:02:15,330 --> 00:02:23,760 emotionally, or psychologically? Folks, this business can really, really hurt you, not only financially, but it can warp you. I mean, we've all heard stories
8 00:02:23,760 --> 00:02:32,850 where guys have jumped out of buildings, because they lost their entire net worth. And my goal is to number one, show you that there's a way of making money
9 00:02:32,850 --> 00:02:41,520 in this business, and not risking a whole lot. But you absolutely are in control of the risk. There's no one pushing your finger on that button. But you, you're
10 00:02:41,520 --> 00:02:50,310 the one in the driver's seat. And so this topic is very, very important. And it's most dear to me, because I've experienced horrific losses in my trading
11 00:02:50,310 --> 00:03:04,620 career. So, you know, hopefully, you'll learn from some of the mistakes I've made, and you can avoid them. Alright, and it was this to you, about your
12 00:03:04,620 --> 00:03:11,580 girlfriend or your wife, or maybe it's your husband. I'm gonna go out on a limb here and say this is probably what you had in mind when you first got involved
13 00:03:11,580 --> 00:03:21,960 in trading. You want to go out and just hit hit the markets and take off and never see a loss and or if you did get one is very small, and you'd be 99% Right
14 00:03:21,960 --> 00:03:30,720 on everything. Because after all, the guy that sold you that robot, or that EA, or that trading system, or he's in that forum telling you it's gonna have 100%
15 00:03:30,720 --> 00:03:41,700 win ratio. Listen, man, when you first start off, you have to have this prepared in the forefront of your mind that you're going to assume losses, and a lot of
16 00:03:41,700 --> 00:03:51,060 them. And even as a seasoned trader like myself, I've run into new strings of losses it's going to happen. Sometimes you're just not firing on all cylinders.
17 00:03:51,900 --> 00:04:01,530 But, you know, there's ways of getting around that and counteracting that imperfection. But I know this probably hurts a little bit if it's prideful for
18 00:04:01,530 --> 00:04:10,140 you and thing of ego. But if it feels like I'm rubbing salt in a wound, you understand this salts good for healing. And after all pain lets us know we're
19 00:04:10,140 --> 00:04:19,860 alive. Now that you experienced the pain of depression brought on by reckless trading and risking too much. Let's take a closer look at more sound approach to
20 00:04:19,890 --> 00:04:33,060 risk management. Maybe you had this in mind when you first got into trading after all, the guy that sat down with you before told you hey, this myth is so
21 00:04:33,060 --> 00:04:41,790 good. You risk 10% of your equity. It's going to make your money okay, if you have equity balance of $10,000 You're gonna risk 10% Now the first loss you
22 00:04:41,790 --> 00:04:52,860 assume Guess what? You just took a $1,000 loss. Okay, system says continue risking 10% So what do you do? You get anything you take the next trade. Bang,
23 00:04:52,890 --> 00:05:07,950 you hit with an hour loss. Your equity now sits at 8100 hours. Three losses Hit what another era and $10 loss, bang, your cast not 7290 hours. This goes on for
24 00:05:07,950 --> 00:05:19,140 what could easily be seen in anyone's trading eight, string loss, eight string loss, that is absolutely realistic guys, I don't care how good a trader you are,
25 00:05:19,590 --> 00:05:26,790 you're going to get this upside your head one day and you need to be prepared for it. If you're going to risk 10% of your equity simply because you think
26 00:05:26,790 --> 00:05:37,350 you're going to be hitting it on the next trade, and you've been in drawdown, there's a psychological impact that traders go through. And we more or less deny
27 00:05:39,780 --> 00:05:48,420 the technicals that may be indicating that we're in a trade, it's not going to pan out, but we won't let go of it, we start armwrestling with the market,
28 00:05:48,420 --> 00:05:57,210 because hey, you know, we're gonna be right, and it's gonna feel so good when we are, and we can give the middle finger not to be true to the screen. cuz of the
29 00:05:57,210 --> 00:06:08,220 screen, you say, I got you, I got my money back. Everybody wants to have that stuff. That feeling of conquering the market and beating the guy that took the
30 00:06:08,220 --> 00:06:15,300 money from you last time, everybody wants to go into the endzone, slam football down and do their victory dance and all that. But that doesn't work in this
31 00:06:15,300 --> 00:06:23,850 business. And they'll hand you your head on a platter. If you give them the opportunity to take your money, and a lot of it, they're gonna be more than
32 00:06:23,880 --> 00:06:41,850 happy to take it from you. If you just take an eight loss streak here and your equity of $10,000 your account draws down $5,217. That's 52% 52%. Folks, you
33 00:06:41,850 --> 00:06:50,520 think you can take eight trades in a single week, the week some of you guys on these forums, trade, this could happen in a day. Now, I'm not saying that most
34 00:06:50,520 --> 00:06:58,470 of you guys aren't risk that are risking 10% You know, but there are some neophytes to come into this business and think you're gonna have to do it. And
35 00:06:58,500 --> 00:07:07,350 I'm sorry. But you know, maybe you'll come off the gate, make a couple wins and think, man, you know, I'm risking 10%. And look, it's really working out well.
36 00:07:07,920 --> 00:07:17,130 But man, I'm telling you this, that cycle leads to destruction. Alright, just eight trades, look at this. If you have eight losses, you're crushed. That's
37 00:07:17,130 --> 00:07:26,520 that's a huge drawdown, not to mention the emotional impact and your mental equity because not only are we trading with real, tangible money, currency, in
38 00:07:26,520 --> 00:07:36,090 our account, that equity base is not limited to student dollar terms, you have an equity amount of money in your mind what you're really willing to absorb in
39 00:07:36,300 --> 00:07:46,320 risk. You may have put 10,000 into an account. But man, you don't really want to be losing 4000 of it. So what do you really trade in with $4,000. That's your
40 00:07:46,320 --> 00:07:59,040 mental capital. So we're going to talk more about that when we get into wealth building money management. But for now, understand that risking 10% Absolutely
41 00:07:59,040 --> 00:08:14,100 should be no brainer for you. You don't do that. Okay, maybe you're so turned off by 10%. But hey, you know, you're not too afraid of taking risks to 5% per
42 00:08:14,100 --> 00:08:25,470 trade is it's doable for you 10,000 are starting account. Okay, first loss, bang, five on a loss. Now your count drops down to 9500 hours, you do this for a
43 00:08:25,470 --> 00:08:37,680 couple series of losses. The fifth loss, okay, now your account, it's down to $7,737. But hey, you're going to make it back and you're not going to bend 5%
44 00:08:37,680 --> 00:08:47,160 risk on every trade? Well, with the standard typical eight string loss that can happen to anybody. I'm not saying I had this once. Once, I'm not saying you're
45 00:08:47,160 --> 00:08:56,310 going to have it three times a year, but it's going to happen eventually. If you are in this business at any length of time, you will suffer a eighth loss
46 00:08:56,340 --> 00:09:09,600 string, it's going to happen if you had the risk of 5% Betrayed starting with equity balance of $10,000 your equity withdrawal down to the tune of $3,016 or
47 00:09:09,690 --> 00:09:21,750 30% drawdown Can you can you withstand that? Can you imagine taking eight trades in a single week and being drawn down 30% Let me tell you something. I have done
48 00:09:21,750 --> 00:09:31,410 that. I have done that. Okay. And it is absolutely demoralizing because if you come out the gate strong thinking yeah, me I'm gonna, I'm going to tear it up.
49 00:09:31,800 --> 00:09:37,260 Well, yeah, you're gonna tear it up, right? You're going to tear up your account, okay, and you're going to sit there and be depressed for the entire
50 00:09:37,260 --> 00:09:45,360 weekend. You're going to mow over possibly adding more money when that's not the answer. The answer is is controlling the amount of money you put up and
51 00:09:47,310 --> 00:09:55,230 controlling yourself. It's very difficult when you're in a period of drawdown if you're a new trader. I'm talking from experience Okay, when I got involved with
52 00:09:55,230 --> 00:10:07,260 commodities, I was trading five and six, seven contracts. Chicago portrayed wheat, and really my balance, really should have been working with one midam
53 00:10:07,260 --> 00:10:14,610 contract. And I'm not going to go into contracts and specifications for commodities. But I'm just saying that I was over leveraging. And the worst part
54 00:10:14,610 --> 00:10:23,610 of it, I knew I was over leveraging. And when I was losing, it didn't hurt enough. I was going to be right. I was imposing my will on the market. And I'm
55 00:10:23,610 --> 00:10:32,550 telling you, you will lose doing that. It will hurt you doing that? You don't gain anything from that, except for misery and depression. Trust me. I know.
56 00:10:32,760 --> 00:10:43,950 Okay, so 5% risk is absolutely too much. It's insane. Don't do it. I know, let's look at the typical traders thought going in. This is the standard mentality of
57 00:10:43,950 --> 00:10:51,930 all traders, if you read it on all the forums, all the books, we all say and I preach it to don't risk any more than 2% per trade. All right. Okay, we're gonna
58 00:10:51,930 --> 00:11:00,750 look at Trader one up here at the top. Okay, you have one trader, starting with an equity balance of $10,000. And he's going to risk 2% per trade, and he runs
59 00:11:00,750 --> 00:11:15,600 into the inevitable eight string loss, it's going to happen. Well, the account draws down after eight losses $1,318 total percentage drawdown 13%.
60 00:11:16,799 --> 00:11:24,509 You could probably withstand that. I mean, most traders could absorb that. Certainly new trades, because they're in they're invincible. And they're
61 00:11:24,509 --> 00:11:32,879 eventually going to be in the next streak where they make 100% accuracy. So this is absolutely you, within the realm of comfort for most people, if they have a
62 00:11:32,879 --> 00:11:43,289 10,000 equity balance, and they only draw down, you know, 1300 bucks, most people can absorb that. But let's flip the script for a moment. Look at Trader
63 00:11:43,349 --> 00:12:00,509 two. Okay. He starts with 10,000 Rs two, and he's starting with 2% risk. Watch what happens, his first loss at 2% is 200 hours. Suddenly, he has a problem. He
64 00:12:00,509 --> 00:12:12,269 has absorbed a loss. Something's going to take place in this traders mind that didn't take place in the first traders mind. So as next trade, he only loses
65 00:12:12,359 --> 00:12:28,829 $98. But it's still a loss. So the next trade he takes is what a loss of $48 look at just after three losses, the difference in terms of equity, where we are
66 00:12:29,759 --> 00:12:42,149 essentially in the same neighborhood. But look what happens over the period of the eight losses. trader to after eight string loss. His account draws down $538
67 00:12:42,809 --> 00:12:54,569 total percentage drawdown 5%. Do you see a difference there? What do you think trader two did differently that trader one didn't do. Number one, he identified
68 00:12:54,569 --> 00:13:06,509 the fact that he is not perfect. He identify or she rather indifferent to the ladies that are watching this Sorry, sorry, the second trader here in our case
69 00:13:06,509 --> 00:13:18,179 study when he absorbs a loss, okay, he only takes one to do this the first loss immediately he cuts his risk in half. So no longer is he risking 2%. So now he
70 00:13:18,179 --> 00:13:29,129 has Thrall down at 200 hours. So he risks on the next trade when his account equity is at 90 $100. He's going to risk 1% per trade. Now he assumes another
71 00:13:29,129 --> 00:13:43,199 loss. Does he stay at 1%? Absolutely not. What does he do, he drops down to one half of 1%. So his next trade, he has lost $48.51. Guys, you can take that. If
72 00:13:43,199 --> 00:13:49,919 you got 9000 seminars in your account and you can lose $48 You can lose 50 bucks, you're not losing sleep every day, if you could lose if you lose sleep
73 00:13:49,919 --> 00:13:59,279 over that type of loss with the equity balance of $9,000 stop trading it's not for you. Go Go bet at a horse races and you know, play lottery something like
74 00:13:59,279 --> 00:14:06,509 that. But I'm telling you, you have to assume some kind of risk. And this is goes along with everything that's been discussed at the beginning of the
75 00:14:06,509 --> 00:14:13,679 disclaimers. I mean, you have to understand you're going to lose money in this business. And if you're not comfortable with losing money on a consistent basis
76 00:14:13,679 --> 00:14:22,529 where you're not perfect. Bottom line is stop trading. Okay, I have losses, you're gonna have losses too. I can't teach you how to trade perfectly without
77 00:14:22,529 --> 00:14:29,369 losses. No one can, you're not gonna be able to find it. And if that's the Grail you're looking for, it doesn't exist. Trust me, it doesn't exist because I'd pay
78 00:14:29,369 --> 00:14:42,539 everything I have for it and it's not there. Trust me. So let's keep this train rolling here. Okay, after he drops his equity risk to one half of 1% Okay, and
79 00:14:42,539 --> 00:14:54,089 he has another loss, the fourth loss. Okay. $48.27. While he takes another loss, he stays at one half of 1%. Look what happens at the end of his eight losses.
80 00:14:55,229 --> 00:15:05,579 He's got a huge amount of his starting equity still at his disposal and he suffered eight losses, he hasn't had one winning trade yet. Now contrast that
81 00:15:05,579 --> 00:15:23,579 with trader one. This guy, he's down 1300 bucks. trader to he's only down $538 The 5% drawdown is absolutely tolerable in anyone's realm of trading. I mean,
82 00:15:23,579 --> 00:15:33,629 you're gonna you're gonna suffer 5% Good grief 5% You know, that's it you're trying to make in a day some some of you guys that are trading, you have to
83 00:15:33,629 --> 00:15:43,529 control your risk, okay, if you have a loss, cut your risk. If you have another loss, cut your risk trade and drop down to one half of 1%. Now, if you have five
84 00:15:43,529 --> 00:15:55,679 or six trades, then you've lost that half 1% Drop it down to a quarter percent. Okay, whatever suits your risk appetite. That's what you have to do. But you
85 00:15:55,679 --> 00:16:04,139 have to go the other way you do not. You do not average down. In other words, you don't take well I lost 2% mean risk for now. Because if it all it takes is
86 00:16:04,139 --> 00:16:13,409 one trade and I'll make that back and maybe even make the 2% that I was hoping to make on the previous trade that lost. Or I only have to make, you know half
87 00:16:13,409 --> 00:16:20,309 of what I lost in terms of pips on the last trade. If I was fortunate. Don't do that, guys, I've done it. I'm telling you, I've done it. Granted, I'll give you
88 00:16:20,309 --> 00:16:27,599 this, I'm gonna be fair. There's been times where early on, I did it, and it worked out in my favor. But when I tried it later on, it crushed me and it never
89 00:16:27,599 --> 00:16:34,799 gave it back to me. It took more and it took more and it took more and I'm telling you, it is a loser's game. Trust me, I knew this by firsthand
90 00:16:34,799 --> 00:16:43,979 experience. It never pans out over time doesn't happen. Okay, so just don't do it. If you have a loss, cut your risk. Cut your risk, cut your risk. Alright.
91 00:16:48,329 --> 00:16:59,339 Now let's assume let's stretch this out a little bit. All right. Trader one had a drawdown of $1,300. Okay, on eight losses, not one trade was a winner. All
92 00:16:59,369 --> 00:17:08,069 eight were losers. Well look at Trader two. Let's assume for a moment the guy hits and he's got a bad run, you know, he's got some problems in his personal
93 00:17:08,069 --> 00:17:15,029 life. And a nine to five is getting him, you know, stressed out his boss is driving him crazy. You know, he's rushing trades. He's not following the system.
94 00:17:15,809 --> 00:17:23,759 He's not feeling well. He's spending too much time in the forms and not really studying the charts. It's something that's keeping him from being disciplined,
95 00:17:24,209 --> 00:17:32,669 okay, he's not hitting on all four on all cylinders. Something's wrong, maybe he's got a system doesn't work. Maybe he's a bit he has an abandoned his bad
96 00:17:32,669 --> 00:17:43,349 habits. Bottom line is is he's not made a profitable trade yet. Look what trader two can absorb, he can absorb three times the amount of loss that trader one
97 00:17:43,349 --> 00:17:53,879 can. Following the same approach, the first loss, risking 2%, the only draws down the 90 $100. Second loss, risking 1%. Now because he's trained back to his
98 00:17:53,879 --> 00:18:06,569 risk, he only loses $90 His drawdown goes to $9,700 in his account. Now he's at one half of 1%. And he stays there. Okay, all the way through up to 24 losses,
99 00:18:06,569 --> 00:18:21,569 this gentleman or young lady could have a loss string of 24 losses and still be less than the first trader. Think about that. This guy or GAO can have 24 losing
100 00:18:21,599 --> 00:18:35,189 trades, and still have lost less than the first trader on a trade. Because he didn't augment his risk exposure. You have to control the amount of risk in your
101 00:18:35,189 --> 00:18:42,689 account. If you do not do this, no one's doing it for you. I can't do it for you, your wife can't do it for you, your husband can't do it for you to kids
102 00:18:42,689 --> 00:18:51,479 can't do it, that a burka certainly ain't gonna do it. Okay, so you have to have this in your plan. It has to be mounted on the wall tattooed on your hand, it's
103 00:18:51,479 --> 00:18:59,429 got to be on your forehead. So when you see yourself in the mirror, you see this all the time control risk. I can't stress it enough. Nobody talks about it
104 00:18:59,429 --> 00:19:08,009 enough in you have to do this. You absolutely have to do this. Okay, this will give you the the Viagra effect not to be crude, but it gives you to stay in
105 00:19:08,009 --> 00:19:16,499 power. You have to be able to absorb losses, cuz I'm telling you these banks, they're ruthless is good as my methods are, I still get slapped around
106 00:19:16,499 --> 00:19:25,919 sometimes, okay, it's going to happen. Now, granted, when we dropped down to half a percent, okay, we're not probably going to make a whole lot of money
107 00:19:25,919 --> 00:19:38,189 coming back out of it. Sure, that's fine. But there's a there's a strategy that we're implying. That goes a long way in terms of a profitable career. Okay, if
108 00:19:38,189 --> 00:19:48,779 you can absorb 24 losses and only have 12% drawdown. You're controlling risk. There's not a trader out there, okay, that can beat their chests and say, I've
109 00:19:48,779 --> 00:19:56,609 been trading for five 810 years, okay. And I've never had an eight string loss. Okay, I'm telling you that they don't don't that's a unicorn, they don't exist.
110 00:19:56,789 --> 00:20:04,469 Okay, so you're gonna have strings of losses. I'm showing you how Even with an I've never had 24 losses, I'll give you that I've never had a string of 24
111 00:20:04,469 --> 00:20:13,949 losses, but I've given you a shield. Okay? I've given you a mindset when you step out in the arena and risk your capital and you risk your money. This is
112 00:20:13,949 --> 00:20:23,369 your only defense, this right here, okay? It's not the trade signals, okay? It's not the amount of money you put in the account to start with. It's the amount of
113 00:20:23,369 --> 00:20:32,039 money you put up. Because whatever you offer them in your hand, open palmed, they're going to take it if they can. So if you give them a large percentage of
114 00:20:32,039 --> 00:20:43,559 it, all you're doing is enticing more interest and taking it from you. Okay, so the moral of the story is, if you have a loss, cut your risk, if you if you have
115 00:20:43,559 --> 00:20:54,059 a loss, again, you cut your wrist and you drop down to one half of 1%. Okay, and you stay there until we have a term inequity. And when you start making money
116 00:20:54,059 --> 00:21:02,969 and started being profitable, okay. There's a way to going back to your original risk exposure. So your maximum risk exposure is 2% per trade. Okay, how do we,
117 00:21:03,209 --> 00:21:07,529 how do we compensate for that? How do we get back to that? That point? Well, let's talk about that now.
118 00:21:11,280 --> 00:21:18,330 All right, when the penny drops, guys, I know this probably looks like you sometimes when you're freaking out in your accounts in drawdown, you haven't
119 00:21:18,330 --> 00:21:25,740 seen a winning trade and you days, weeks, maybe a month. And it's very stressful. You don't want to talk to your wife, your kids are getting on your
120 00:21:25,740 --> 00:21:30,870 nerves. You know, if you have a job, you certainly don't want to go to work. And the last thing you want to hear is the boss telling you what to do because
121 00:21:31,110 --> 00:21:40,890 you're doing everything you can to get his his grip and his clutches. Alright, so basically, how do we, how do we go forward with this information? Okay, well,
122 00:21:40,890 --> 00:21:47,970 when we experience a loss, the first thing you want to do is number one reduced risk. That's the absolute first thing you think in your mind not let me get back
123 00:21:47,970 --> 00:21:55,200 in and try to get my money back. No, you cut risk. Why? Because you already have a state of mind where you feel you're victimized, okay, I don't care how long
124 00:21:55,200 --> 00:22:05,550 you been trading losses still haven't have an impact, okay? I don't like losing, I hate losing, okay, because my method wins more than it loses. When it happens.
125 00:22:05,640 --> 00:22:13,950 I don't like, okay, but I don't beat myself up about and going into, well, you know, I lost $500 I'm gonna get in there and trade. And we'll try to make $2,000
126 00:22:13,950 --> 00:22:20,220 On the next trade because I lost five, I want to get four times as much money back, I want to do it in half the time. I don't think like that anymore. I did,
127 00:22:20,250 --> 00:22:26,460 I'm gonna give you this, I did things like that years ago. But I don't need to do that anymore. Okay. And you don't need to do that. Now, if you haven't
128 00:22:26,490 --> 00:22:38,490 adapted that bad habit. This is hopefully keep you from doing it. So, if you take a loss of 2%, the next trade you will only assume 1% risk. Now, should this
129 00:22:38,490 --> 00:22:51,120 trade result in a loss, the next trade will only assume one half of 1%. Okay, you will only risk one half of 1% per trade until you have made at least 50% of
130 00:22:51,120 --> 00:23:00,180 the drawdown of the equity dip from the trade risking 1% of equity. Okay, so in other words, the trade that you'd lost when you were risking 1%, whatever that
131 00:23:00,180 --> 00:23:12,630 amount is, let's say it's 500 bucks, you need to make 250 hours risking one half of 1%. Before you can trade up to the 1% risk per trade tear. Okay, now you're
132 00:23:12,630 --> 00:23:25,230 going to risk 1% per trade until you make at least 50% of the equity dip that you used when you risked 2% per trade. Okay. So again, if you're risking 500
133 00:23:25,230 --> 00:23:34,650 hours, when you're risking 2% at 1% risk, you need to make at least $250 Before you go back to risking 2% If you lose, you go back to that system again, you
134 00:23:34,650 --> 00:23:43,290 dropped cut in half, cut it in half cut in half. And now you have an opportunity to step back and say okay, I can take some blows, I can get knocked around, but
135 00:23:43,290 --> 00:23:53,790 I'm not getting taken out of the game. Okay, so now hopefully, hopefully, with this presentation, you can breathe. There's a way of doing it, guys. Okay. And
136 00:23:53,790 --> 00:24:01,530 this is how it's done. You can't stay in this business without controlling your risk. That's the moral stick to the game plan, stick to the method of
137 00:24:01,590 --> 00:24:11,220 controlling risk using this approach. And I absolutely guarantee, okay, you want the Holy Grail. This is the holy grail. This is it. You have to have a shield in
138 00:24:11,220 --> 00:24:18,540 this business. If you don't, your money is going to come to me. It's going to go to the central banks, it's going to go to the guys that know how to do this,
139 00:24:18,570 --> 00:24:25,710 okay, because I'm going to be in the game years from now, you know, and I'm going to still apply this approach when I have losses. This is how I do it. This
140 00:24:25,710 --> 00:24:35,430 is what kept me in the game. As long as I've been it's going to be a concept that I hold closest to me, because this is more important than my entry signals.
141 00:24:35,820 --> 00:24:43,410 This is more important to my exit. This is the absolute key and cornerstone to long term success and careers and trading