Skip to Content
Last modified by Drunk Monkey on 2021-06-11 13:41
From version 1.1
edited by Drunk Monkey
on 2020-11-20 16:44
Change comment: There is no comment for this version
To version 2.1
edited by Drunk Monkey
on 2021-06-11 13:41
Change comment: There is no comment for this version

Summary

Details

Page properties
Content
... ... @@ -1,1011 +1,99 @@
1 -1
2 -00:00:08,610 ~-~-> 00:00:14,430
3 -ICT: Okay folks, welcome back. This is volume two of three,
1 +(% class="hover min" %)
2 +|1 |00:00:08,610 ~-~-> 00:00:21,210 |ICT: Okay, folks, welcome back. This is volume two of three, four mastering high probability scalping, focusing on previous day bank liquidity runs.
3 +|2 |00:00:27,540 ~-~-> 00:00:39,630 |Alright, so what we are revealing the daily bias so that we everyone knows exactly what should be done. And I'm referring to a daily chart here. So when
4 +|3 |00:00:39,630 ~-~-> 00:00:48,270 |we're implementing the daily bias, what we're gonna be doing is on a daily chart, we're gonna be waiting for a swing high to form and to be broken, this
5 +|4 |00:00:48,270 ~-~-> 00:00:59,760 |will be bullish, okay, when we see a swing high broken, that was a candle that has a lower high to the left of it, and a lower high to the right of it, as seen
6 +|5 |00:00:59,760 ~-~-> 00:01:13,980 |here. Okay, if at any time in the future, it's traded through when we have that we have a bullish stage. In other words, we anticipate a future Buying
7 +|6 |00:01:13,980 ~-~-> 00:01:27,300 |Opportunity doesn't mean the buy right there. This means we are now on an alert to wait for a specific criteria criteria is going to be looking for a swing low
8 +|7 |00:01:27,300 ~-~-> 00:01:37,350 |to form down here, okay, a swing low again is a candle that has a higher load to the left of it and a higher load to the right of it again on the daily chart.
9 +|8 |00:01:39,450 ~-~-> 00:01:55,740 |key point here is this swing low should not take out a previous recent swing low okay. So if we have this criteria, immediately after a swing high is broken. We
10 +|9 |00:01:55,740 ~-~-> 00:02:06,960 |have the probable optimal trade entry scenario by itself on a daily chart. Okay, doesn't mean it has to line up with a 62 to seven times to trace the level it
11 +|10 |00:02:06,960 ~-~-> 00:02:19,470 |just means that we are in effect trading with a higher low after breaking a short term high so we have a break in market structure a retracement so
12 +|11 |00:02:19,470 ~-~-> 00:02:32,280 |therefore, the market should have an ability to find momentum on the upside. Okay. When the swing low forms, we're going to be anticipating the third candle
13 +|12 |00:02:32,610 ~-~-> 00:02:42,930 |that is this one here. It's high to be rated or traded through the very next day. So towards the next trading day where it opens. Preferably you want to see
14 +|13 |00:02:42,930 ~-~-> 00:02:56,520 |it open below the third candle the swing lows Hi. Okay, so here's your criterion, you want to see the swing low form without breaking a previous swing
15 +|14 |00:02:56,520 ~-~-> 00:03:10,230 |low immediately after a swing high is formed but breaking a previous swing high. Okay, so again, the stage for a bullish scenario is anytime a swing highs broken
16 +|15 |00:03:11,520 ~-~-> 00:03:24,030 |and traded to a new high expected retracement. Wait for a daily swing low to form swing low should be a higher swing low than any recent previous short term,
17 +|16 |00:03:24,450 ~-~-> 00:03:38,760 |swing low. That third candle that makes the swing low that high you want to see the next candle open below that candles high and then anticipate the market to
18 +|17 |00:03:38,760 ~-~-> 00:03:53,160 |run through this candles Hi. We're looking for previous day's highs to be rated each day until a swing high on a daily forms or price reaches a key support or
19 +|18 |00:03:53,160 ~-~-> 00:04:02,190 |resistance level. And I'll give you an example with that will be the immediate candle after this particular day's formation. We'll be looking for a Bosch
20 +|19 |00:04:02,190 ~-~-> 00:04:13,170 |scenario. Okay either in London or the New York scenario. anticipate a raid on the previous day's high. The very next trading day, we would look for the same
21 +|20 |00:04:13,170 ~-~-> 00:04:24,000 |scenario again, looking for reasons to be bullish on a retracement lower, going higher, reaching for ultimately to this old high because this would be a area of
22 +|21 |00:04:24,000 ~-~-> 00:04:34,320 |resistance. Okay or if it trades to that high and through it. We'd still maintain looking for bullish scenarios buying looking for previous day's highs
23 +|22 |00:04:34,320 ~-~-> 00:04:46,710 |to be taken out. Or if we have price rally up to a degree either at this level or before it in creating a swing high. Once that forms. We have to wait for that
24 +|23 |00:04:46,710 ~-~-> 00:04:55,860 |swing high to be broke on the upside. Okay. There's going to be a lot of missed opportunities admittedly with this but it gives you a specific criteria on the
25 +|24 |00:04:55,860 ~-~-> 00:04:56,400 |work within
26 +|25 |00:05:02,370 ~-~-> 00:05:14,280 |Okay implying the daily bias This is when it's bearish and we're waiting again on the daily chart for a swing low on a daily to be broken. So we have a swing
27 +|26 |00:05:14,280 ~-~-> 00:05:26,010 |low here, okay again a daily candle that has a higher low to the left of it and a higher low to the right of it eventually as price trades through this, this
28 +|27 |00:05:26,010 ~-~-> 00:05:37,680 |break in market structure sets the stage for a bearish market condition. Okay, so we're kind of like alerted to waiting for a sell scenario. We wait for a
29 +|28 |00:05:37,680 ~-~-> 00:05:48,840 |retracement when we get the daily swing high formed the third candle okay that makes a swing high we're going to be anticipating that low to be violated the
30 +|29 |00:05:48,840 ~-~-> 00:05:59,490 |very next trading day. key point is we don't want to see this swing high break a previous swing high it means immediately before the swing low there has broken a
31 +|30 |00:05:59,490 ~-~-> 00:06:08,760 |previous swing low okay so what we're doing is we're looking for a swing low broken here so now we have the ability to see the market trade to a new a new
32 +|31 |00:06:08,760 ~-~-> 00:06:23,550 |low then it retraces but will not break a swing high. So now we're getting that three quarterback retracement. Okay. So by itself, it's like an optimal trade
33 +|32 |00:06:23,550 ~-~-> 00:06:33,660 |entry doesn't have to be 262 to seven times in training level. It's better if it does, but it doesn't require it. You want to see the market trade up until it
34 +|33 |00:06:33,690 ~-~-> 00:06:44,490 |creates a daily swing high. When that third candle forms. At its close very next trading day, you will be watching for price to make an attempt to trade through
35 +|34 |00:06:44,850 ~-~-> 00:06:57,450 |this candles low and that remains the bias each trading day until a swing low forms or we trade down to this old low. Okay, or another significant low. So
36 +|35 |00:06:57,450 ~-~-> 00:07:08,520 |again, summary is we're looking for a swing low to form on the daily chart and then it be broken. Then we're looking for a swing high to form but does not
37 +|36 |00:07:08,520 ~-~-> 00:07:19,380 |break a recent swing high. So here's a swing high that doesn't come back to clear or break a previous swing high. When the swing high forms, we anticipate
38 +|37 |00:07:19,380 ~-~-> 00:07:30,300 |the third daily candle in the swing high right here. We will look for its load to be rated or traded through the following day. And we look for the previous
39 +|38 |00:07:30,300 ~-~-> 00:07:42,780 |day's low to be rated each day until a new swing low on a daily forms, or price reaches a key support resistance level. Now, you're not going to have a set up
40 +|39 |00:07:42,810 ~-~-> 00:07:54,360 |every single trading day. Okay, I've gotten a lot of emails so far, since I've produced the first volume of this three part series. And the common complaint
41 +|40 |00:07:55,020 ~-~-> 00:08:07,380 |I'm getting is I'm not getting a set up every day. And it's not been promised. Okay, if you look at every major that's paired against the dollar, you can get
42 +|41 |00:08:07,650 ~-~-> 00:08:19,890 |about three to four solid setups per week. Now that means that you're probably not going to get a set up every single train day, chances are one pair among all
43 +|42 |00:08:19,890 ~-~-> 00:08:31,020 |the ones that are available, will provide you a setup to study she can practice in your demo account with it. The emphasis is for you to remember that you only
44 +|43 |00:08:31,020 ~-~-> 00:08:42,450 |need about 25 pips or so per week. And if you do percent off your account, and it may be high, admittedly, for some of you. But if you have grown in your
45 +|44 |00:08:42,450 ~-~-> 00:08:52,590 |understanding about what I'm teaching, and you're willing to risk 2% it takes a little bit less than 25 pips per week to double your account or make 6%
46 +|45 |00:08:52,620 ~-~-> 00:09:03,450 |compounded monthly. And I think that's the objective that folks should be looking for when they're new. Because it's realistic, it's low, but yet it still
47 +|46 |00:09:03,450 ~-~-> 00:09:18,000 |doubles the account over the course of a 12 month, year. So if we're looking for one good setup that would yield that 25 pips or so you only need one scalp. One
48 +|47 |00:09:18,000 ~-~-> 00:09:33,060 |set up that does that. Now I started the current teaching week on Twitter. Kind of like building the idea of making 50 pips per week. If you frame your scalps
49 +|48 |00:09:33,210 ~-~-> 00:09:44,400 |in such a way that it allows you to aim for 25 pips you only really need two setups per week, don't you? Now, I like that model personally because it's very
50 +|49 |00:09:44,400 ~-~-> 00:09:48,240 |close to what I do as a short term or intraday trader.
51 +|50 |00:09:49,620 ~-~-> 00:09:59,490 |I know the likelihood is I want to be trading on Tuesdays and Wednesdays. If I can get my entire weekly objective which is 50 to 75 pips per week, if I can get
52 +|51 |00:09:59,490 ~-~-> 00:10:06,600 |that done in one day then I won't do any more trading after that, regardless of what day of the week it is. But usually I hone in on Tuesday and Wednesday
53 +|52 |00:10:06,600 ~-~-> 00:10:15,600 |because they're primarily the best days, whether bullish or bearish. If it's bullish for the week, then I'm looking for the weekly low to form around Tuesday
54 +|53 |00:10:15,600 ~-~-> 00:10:27,930 |or Wednesdays New York open, if I can anticipate a lower close or weekly bearish candle, shooting with an expectation that we're going to be seeing lower prices
55 +|54 |00:10:27,930 ~-~-> 00:10:37,290 |by Friday's close relative to Sunday's opening, then I'll be looking for Tuesday or Wednesday's price action to create the high of the week. So if I can trade in
56 +|55 |00:10:37,290 ~-~-> 00:10:49,080 |sync with that idea. It also formulates a lot more conviction and confidence behind the setups that I'm looking to trade, especially with what's been
57 +|56 |00:10:49,080 ~-~-> 00:10:58,800 |described here. It's a rather simplistic approach, it may have been an oversimplification on my part, by way of creating this diagram. But from an
58 +|57 |00:10:58,800 ~-~-> 00:11:09,870 |internal standpoint, how I view the marketplace, this is what I'm looking for. Okay. So if I seen on a daily chart, chances are, the daily chart will probably
59 +|58 |00:11:09,900 ~-~-> 00:11:18,990 |sustain the move for a few days, and you'll only need one trading day. Okay, so if you have a scenario that's bullish, or bearish relative to what I just
60 +|59 |00:11:18,990 ~-~-> 00:11:30,210 |described here, so far in this video, you chances are, you're probably gonna have one day's worth of momentum. And that's all you need. So every single pair
61 +|60 |00:11:30,570 ~-~-> 00:11:41,400 |does not move lockstep to one another, they're not always moving in tandem. So what may be a good parent trade today may not be a pair that's really good to
62 +|61 |00:11:41,400 ~-~-> 00:11:54,600 |trade tomorrow, but another pair may move in equal or better fashion. In other words, the setups are plenty, but you have to allow them to be presented in
63 +|62 |00:11:54,600 ~-~-> 00:12:04,410 |price action from the daily chart, and then not forcing it. So let's take a look over the charts. I'll give you an example of what looks like and we can use the
64 +|63 |00:12:04,410 ~-~-> 00:12:18,510 |kill zones. Get we're looking at the cable, the daily chart. I just scrolled through just found a random place, it doesn't make a difference where we start
65 +|64 |00:12:18,510 ~-~-> 00:12:40,650 |at. But I want you to take a look at the price action here. And we're gonna look at this swing low right here. And it's on the heels of a previous short term
66 +|65 |00:12:40,650 ~-~-> 00:12:41,100 |high.
67 +|66 |00:12:46,380 ~-~-> 00:12:57,960 |Okay, so we have a short term high here. Lower high to the left, lower high to the right, high as high in the middle. It breaks that. Okay, so now we're on a
68 +|67 |00:12:57,960 ~-~-> 00:13:11,760 |bye watch for scalping. This is a swing high, it's broken. And we have to wait for a swing low to form after this is broken. So we're going to be anticipating
69 +|68 |00:13:12,330 ~-~-> 00:13:25,320 |a retracement after this run up says price starts to drop down. We have a preliminary swing low here. Okay, so this candle that's the third one, we need
70 +|69 |00:13:25,320 ~-~-> 00:13:36,240 |to make sure we wait for price to trade through this candles high. The very next day it doesn't do that. Okay, then we have another candle form a potential swing
71 +|70 |00:13:36,270 ~-~-> 00:13:45,720 |low here. So this candle here we have to wait for this candle is high that he traded through very next candle. It doesn't do it. It does it here. So now we
72 +|71 |00:13:45,720 ~-~-> 00:14:00,630 |can be a buyer here with a scout running previous day's high which is this one. Okay, so one, July 24 2017. That high again, coming in at 130 57. That's where
73 +|72 |00:14:00,630 ~-~-> 00:14:08,970 |the liquidity run is going to be right there. This candle on the 25th of July is where we'll be looking for the setup.
74 +|73 |00:14:14,250 ~-~-> 00:14:20,790 |Right there. Okay, and we're going to drop down into a smaller timeframe, we'll use a 15 minute time frame.
75 +|74 |00:14:26,130 ~-~-> 00:14:41,610 |Okay. Scratch this up, but the dividers and you guys can see it. So previous day's high is right here. So I'll put a horizontal line on the chart to
76 +|75 |00:14:41,610 ~-~-> 00:15:02,220 |facilitate that. Okay, so here's where the liquidity is. We're running for 3057. Okay, this day here we're looking for a scenario To get long to run that
77 +|76 |00:15:02,730 ~-~-> 00:15:23,280 |liquidity pool. Okay, and we have this, again is the liquid report risk we're reaching for previous day's high on this trading day when I use the market
78 +|77 |00:15:23,910 ~-~-> 00:15:37,380 |sessions, I'm looking for London setups in New York setups primarily, this is a London session low and I'll let you see that here that's in London and we're
79 +|78 |00:15:37,380 ~-~-> 00:15:56,160 |going to use that as I mentioned in volume one I use session highs and lows and they said the highest portion of the day in terms of a 15 minute candle just put
80 +|79 |00:15:56,160 ~-~-> 00:16:06,540 |it right here. You guys can see it so I'm using this one in this one framing the entire price. So as price starts to stay here, I'm not concerned about anything
81 +|80 |00:16:06,540 ~-~-> 00:16:20,370 |until it gets down into the optimal trade entry 62% retracement level respectively 70.5 and 79% Okay, exit price trades it hits it here. This candle
82 +|81 |00:16:20,370 ~-~-> 00:16:35,010 |comes in exactly 945 that's one and we're going into a nice run into previous day's high. Okay, so you can see that was a nice little scalp. It offered as
83 +|82 |00:16:35,010 ~-~-> 00:16:52,080 |much as 1020 3040 pips, to get to the high and if we look for 10 to 20 pips, I was sweep by this high that takes us 1020 here, so 20 pips, 40 pips 60 pips 70
84 +|83 |00:16:52,080 ~-~-> 00:17:02,700 |pips or so in terms of potential price range, that in itself is it for the week for me, that would be it, I wouldn't need to do anything else. And it's hard to
85 +|84 |00:17:02,700 ~-~-> 00:17:11,940 |believe. But that's how I operate. I don't look for a whole lot of setups per week, because I'm content with you doing one thing well, and there it is. Now,
86 +|85 |00:17:11,970 ~-~-> 00:17:23,610 |if this were a more conservative approach, you could be looking for the long down here based on the optimal trade entry and reaching just to the old high.
87 +|86 |00:17:24,030 ~-~-> 00:17:39,990 |Now if that's the case, say you're filled it was rounded to 130 20 that again, is getting out at 57. That's 37 pips or so. Okay, almost 40 pips we'll say 40
88 +|87 |00:17:39,990 ~-~-> 00:17:53,370 |pips. You only need to do one more trade for the week, pretend pips to get a 50 PIP net return for the week. Now, there's a lot of folks that will say, don't
89 +|88 |00:17:53,400 ~-~-> 00:18:05,730 |set targets don't set goals for daily or weekly. Because you don't know what the markets going to do? Well, I would submit that that's partially true. We don't
90 +|89 |00:18:05,730 ~-~-> 00:18:15,930 |know with any assurity what the markets going to do. But we do have pretty strong probabilities of wherever the market may reach for. And if we can frame
91 +|90 |00:18:15,930 ~-~-> 00:18:25,230 |the idea of where we're trying to get in at based on time and price kill zone and optimal trade entry on price. And where we're reaching for it doesn't that
92 +|91 |00:18:25,230 ~-~-> 00:18:35,100 |not offer us a definitive way of determining what could be reasonably expected for that particular setup. And if we know that we're looking at intraday setups
93 +|92 |00:18:35,100 ~-~-> 00:18:43,560 |like this is typically five days per week, unless it's a holiday or the markets are not trading because of some other bank holiday whatever we don't want to
94 +|93 |00:18:43,560 ~-~-> 00:19:00,690 |trade it. We can see many instances where 25 to 50 pips is rather easy to get now, it's when we get into the I want to make 250 to 500 pips per week, then it
95 +|94 |00:19:00,690 ~-~-> 00:19:13,380 |becomes a little daunting in terms of a task. So I think by focusing on 2025 pips per setup, and then aiming for to go once per week, I think 50 pips is a
96 +|95 |00:19:13,380 ~-~-> 00:19:25,050 |really low hanging fruit, reachable, achievable and certainly realistic in the scope of a developing trader. Will you get it every week? No. Will you get it
97 +|96 |00:19:25,050 ~-~-> 00:19:27,270 |right out the gate starting using my concepts?
98 +|97 |00:19:27,540 ~-~-> 00:19:38,370 |No. But over time, you will eventually grow into that expectancy for a nice return of 50 pips per week. You can frame your entire career on that.
4 4  
5 -2
6 -00:00:15,180 ~-~-> 00:00:19,350
7 -four mastering high probability scalping, focusing on
8 -
9 -3
10 -00:00:19,350 ~-~-> 00:00:21,240
11 -previous day bank liquidity runs.
12 -
13 -4
14 -00:00:27,540 ~-~-> 00:00:31,950
15 -Alright, so what we are reviewing the daily bias so that we
16 -
17 -5
18 -00:00:31,950 ~-~-> 00:00:36,090
19 -everyone knows exactly what should be done. And I'm
20 -
21 -6
22 -00:00:36,090 ~-~-> 00:00:40,470
23 -referring to a daily chart here. So when we're implementing
24 -
25 -7
26 -00:00:40,500 ~-~-> 00:00:42,690
27 -the daily bias, what we're gonna be doing is on a daily
28 -
29 -8
30 -00:00:42,690 ~-~-> 00:00:46,830
31 -chart, we're gonna be waiting for a swing high to form and
32 -
33 -9
34 -00:00:46,830 ~-~-> 00:00:50,940
35 -to be broken this will be bullish, okay when we see a swing
36 -
37 -10
38 -00:00:50,940 ~-~-> 00:00:56,010
39 -high broken downwards, a candle that has a lower high to the
40 -
41 -11
42 -00:00:56,010 ~-~-> 00:00:59,760
43 -left of it, and the lower high to the right of it as seen
44 -
45 -12
46 -00:00:59,760 ~-~-> 00:01:06,000
47 -here. Okay, if at anytime in the future, it's traded through
48 -
49 -13
50 -00:01:07,230 ~-~-> 00:01:11,130
51 -when we have that we have a bullish stage. In other words,
52 -
53 -14
54 -00:01:11,130 ~-~-> 00:01:15,810
55 -we anticipate a future Buying Opportunity doesn't mean the
56 -
57 -15
58 -00:01:15,810 ~-~-> 00:01:20,400
59 -buy right there just means we are now on on alert to wait
60 -
61 -16
62 -00:01:20,400 ~-~-> 00:01:26,700
63 -for a specific criteria criteria is going to be looking for
64 -
65 -17
66 -00:01:26,700 ~-~-> 00:01:32,730
67 -a swing load form down here okay a swing low can is a candle
68 -
69 -18
70 -00:01:32,730 ~-~-> 00:01:35,160
71 -that has a higher load to the left of it a higher load to
72 -
73 -19
74 -00:01:35,160 ~-~-> 00:01:40,890
75 -the right of it again on a daily chart. key point here is
76 -
77 -20
78 -00:01:41,520 ~-~-> 00:01:46,140
79 -this swing low should not take out a previous recent swing
80 -
81 -21
82 -00:01:46,140 ~-~-> 00:01:52,440
83 -low okay. So if we have this criteria immediately after a
84 -
85 -22
86 -00:01:52,440 ~-~-> 00:01:58,830
87 -swing high is broken. We have the probable optimal trade
88 -
89 -23
90 -00:01:58,830 ~-~-> 00:02:04,200
91 -entry scenario By itself on a daily chart, okay, doesn't
92 -
93 -24
94 -00:02:04,200 ~-~-> 00:02:06,660
95 -mean it has to line up with a 62 to seven times tracing
96 -
97 -25
98 -00:02:06,660 ~-~-> 00:02:11,700
99 -level, this means that we are in effect, trading with a
100 -
101 -26
102 -00:02:11,880 ~-~-> 00:02:17,370
103 -higher low after breaking a short term high so we have a
104 -
105 -27
106 -00:02:17,370 ~-~-> 00:02:20,490
107 -break in market structure retracements. Therefore, the
108 -
109 -28
110 -00:02:20,490 ~-~-> 00:02:24,630
111 -market should have an ability to find momentum on the
112 -
113 -29
114 -00:02:24,630 ~-~-> 00:02:30,600
115 -upside, okay. When the swing low forms, we're going to be
116 -
117 -30
118 -00:02:30,600 ~-~-> 00:02:34,770
119 -anticipating the third candle. That is this one here. It's
120 -
121 -31
122 -00:02:34,770 ~-~-> 00:02:39,240
123 -high to be rated or traded through the very next day. So
124 -
125 -32
126 -00:02:39,240 ~-~-> 00:02:42,540
127 -towards the next trading day where it opens, preferably, you
128 -
129 -33
130 -00:02:42,540 ~-~-> 00:02:47,250
131 -want to see it open below the third candle the swing lows
132 -
133 -34
134 -00:02:47,310 ~-~-> 00:02:53,580
135 -high. Okay, so your criterion, you want to see the swing low
136 -
137 -35
138 -00:02:54,090 ~-~-> 00:02:58,650
139 -form without breaking a previous swing low immediately after
140 -
141 -36
142 -00:02:59,370 ~-~-> 00:03:05,280
143 -a swing. is formed but breaking a previous swing high. Okay,
144 -
145 -37
146 -00:03:05,280 ~-~-> 00:03:09,480
147 -so again the stage for a bullish scenario is anytime a swing
148 -
149 -38
150 -00:03:09,480 ~-~-> 00:03:15,570
151 -high is broken and traded to a new high expected retracement
152 -
153 -39
154 -00:03:16,110 ~-~-> 00:03:19,920
155 -wait for a daily swing low to form swing low should be a
156 -
157 -40
158 -00:03:19,920 ~-~-> 00:03:24,870
159 -higher swing load in any recent previous short term swing
160 -
161 -41
162 -00:03:24,870 ~-~-> 00:03:30,990
163 -low the third candle that makes the swing low that high you
164 -
165 -42
166 -00:03:30,990 ~-~-> 00:03:37,020
167 -want to see the next candle open below that candles high and
168 -
169 -43
170 -00:03:37,020 ~-~-> 00:03:41,070
171 -then anticipate the market to run through this candles Hi.
172 -
173 -44
174 -00:03:44,610 ~-~-> 00:03:47,040
175 -We're gonna be looking for previous day's highs to be rated
176 -
177 -45
178 -00:03:47,070 ~-~-> 00:03:51,420
179 -each day until a swing high on a daily forms or price
180 -
181 -46
182 -00:03:51,420 ~-~-> 00:03:54,750
183 -reaches a key support resistance level. And I'll give an
184 -
185 -47
186 -00:03:54,750 ~-~-> 00:03:58,620
187 -example what that would be the immediate candle after this
188 -
189 -48
190 -00:03:58,620 ~-~-> 00:04:03,690
191 -particular days Maybe looking for a bullish scenario. Okay
192 -
193 -49
194 -00:04:03,690 ~-~-> 00:04:07,650
195 -either in the London or the New York scenario to anticipate
196 -
197 -50
198 -00:04:07,710 ~-~-> 00:04:11,400
199 -a raid on the previous day's high. The very next trading
200 -
201 -51
202 -00:04:11,400 ~-~-> 00:04:15,030
203 -day, we would look for the same scenario again, looking for
204 -
205 -52
206 -00:04:15,030 ~-~-> 00:04:18,570
207 -reasons to be bullish on a retracement lower, going higher
208 -
209 -53
210 -00:04:18,930 ~-~-> 00:04:23,640
211 -reaching for ultimately to this old high, this would be a
212 -
213 -54
214 -00:04:23,670 ~-~-> 00:04:28,410
215 -area of resistance, okay or if it trades to that high and
216 -
217 -55
218 -00:04:28,410 ~-~-> 00:04:31,890
219 -through it we'd still maintain looking for bullish scenarios
220 -
221 -56
222 -00:04:32,340 ~-~-> 00:04:36,720
223 -buying looking for previous day's highs to be taken out. Or
224 -
225 -57
226 -00:04:36,720 ~-~-> 00:04:40,830
227 -if we have price rally up to a degree either at this level
228 -
229 -58
230 -00:04:40,830 ~-~-> 00:04:45,210
231 -or before it and creating a swing high. Once that forms. We
232 -
233 -59
234 -00:04:45,210 ~-~-> 00:04:48,450
235 -have to wait for that swing high to be broke on the upside.
236 -
237 -60
238 -00:04:48,930 ~-~-> 00:04:51,750
239 -Okay. There's going to be a lot of missed opportunities
240 -
241 -61
242 -00:04:51,780 ~-~-> 00:04:55,800
243 -admittedly with this but it gives you a specific criteria on
244 -
245 -62
246 -00:04:55,800 ~-~-> 00:04:56,400
247 -the work within
248 -
249 -63
250 -00:05:02,370 ~-~-> 00:05:07,680
251 -Okay, employing the daily bias This is why it's bearish and
252 -
253 -64
254 -00:05:07,680 ~-~-> 00:05:11,730
255 -we waiting again on the daily chart for a swing low on a
256 -
257 -65
258 -00:05:11,730 ~-~-> 00:05:15,990
259 -daily to be broken. So we have a swing low here, okay again,
260 -
261 -66
262 -00:05:16,140 ~-~-> 00:05:19,920
263 -a daily candle that has a higher low to the left of it and a
264 -
265 -67
266 -00:05:19,920 ~-~-> 00:05:24,030
267 -higher low to the right of it eventually as price trades
268 -
269 -68
270 -00:05:24,030 ~-~-> 00:05:29,280
271 -through this, this break in market structure sets the stage
272 -
273 -69
274 -00:05:29,280 ~-~-> 00:05:33,870
275 -for a bearish market condition. Okay, so we're kind of like
276 -
277 -70
278 -00:05:33,870 ~-~-> 00:05:37,680
279 -alerted to waiting for a sell scenario. We wait for a
280 -
281 -71
282 -00:05:37,680 ~-~-> 00:05:42,330
283 -retracement when we get the daily swing high formed. The
284 -
285 -72
286 -00:05:42,330 ~-~-> 00:05:46,350
287 -third candle Okay, that makes a swing high. We're going to
288 -
289 -73
290 -00:05:46,350 ~-~-> 00:05:49,440
291 -be anticipating that low to be violated the very next
292 -
293 -74
294 -00:05:49,440 ~-~-> 00:05:52,440
295 -trading day. key point is we don't want to see this swing
296 -
297 -75
298 -00:05:52,440 ~-~-> 00:05:56,670
299 -high break a previous swing high immediately before the
300 -
301 -76
302 -00:05:56,670 ~-~-> 00:06:01,140
303 -swing low that has broken a previous swing Okay so what
304 -
305 -77
306 -00:06:01,140 ~-~-> 00:06:06,180
307 -we're doing is we're looking for a swing low broken here so
308 -
309 -78
310 -00:06:06,180 ~-~-> 00:06:08,550
311 -now we have the ability to see the market trade to a new a
312 -
313 -79
314 -00:06:08,550 ~-~-> 00:06:14,460
315 -new low then it retraces but will not break a swing high. So
316 -
317 -80
318 -00:06:14,460 ~-~-> 00:06:21,240
319 -now we're getting that three quarterback retracement. Okay.
320 -
321 -81
322 -00:06:21,240 ~-~-> 00:06:25,200
323 -So by itself it's like an optimal trade entry doesn't have
324 -
325 -82
326 -00:06:25,200 ~-~-> 00:06:28,530
327 -to be 262 to seven times and tracing level. It's better if
328 -
329 -83
330 -00:06:28,530 ~-~-> 00:06:32,550
331 -it does, but it doesn't require it. You want to see the
332 -
333 -84
334 -00:06:32,550 ~-~-> 00:06:36,180
335 -market trade up until it creates a daily swing high. When
336 -
337 -85
338 -00:06:36,180 ~-~-> 00:06:40,020
339 -that third candle forms and it's closed very next trading
340 -
341 -86
342 -00:06:40,020 ~-~-> 00:06:43,740
343 -day, you will be watching for price to make an attempt to
344 -
345 -87
346 -00:06:43,740 ~-~-> 00:06:47,640
347 -trade through this candles low and that remains the bias
348 -
349 -88
350 -00:06:47,670 ~-~-> 00:06:51,480
351 -each trading day until a swing low forms or we trade down to
352 -
353 -89
354 -00:06:51,480 ~-~-> 00:06:57,840
355 -this old low. Okay, or another significant low. So again,
356 -
357 -90
358 -00:06:57,990 ~-~-> 00:07:00,960
359 -summary it's we're looking for Swing loaded form on the
360 -
361 -91
362 -00:07:00,960 ~-~-> 00:07:06,750
363 -daily chart and then it be broken. Then we're looking for a
364 -
365 -92
366 -00:07:06,750 ~-~-> 00:07:10,050
367 -swing high to form but does not break a recent swing high.
368 -
369 -93
370 -00:07:10,530 ~-~-> 00:07:13,500
371 -So here's a swing high, it doesn't come back to clear or
372 -
373 -94
374 -00:07:13,500 ~-~-> 00:07:18,840
375 -break a previous swing high. When the swing high forms, we
376 -
377 -95
378 -00:07:18,840 ~-~-> 00:07:22,590
379 -anticipate the third daily candle in the swing high right
380 -
381 -96
382 -00:07:22,590 ~-~-> 00:07:26,370
383 -here. We look for its low to be rated or traded through the
384 -
385 -97
386 -00:07:26,370 ~-~-> 00:07:30,930
387 -following day. And we look for the previous day's low to be
388 -
389 -98
390 -00:07:30,930 ~-~-> 00:07:35,550
391 -rated each day until a new swing low on a daily forms, or
392 -
393 -99
394 -00:07:35,550 ~-~-> 00:07:41,490
395 -price reaches a key support resistance level. Now, you're
396 -
397 -100
398 -00:07:41,490 ~-~-> 00:07:44,940
399 -not going to have a set up every single trading day. Okay,
400 -
401 -101
402 -00:07:45,000 ~-~-> 00:07:49,440
403 -I've gotten a lot of emails so far. Since I've produced the
404 -
405 -102
406 -00:07:49,440 ~-~-> 00:07:53,490
407 -first volume of this three part series. And the common
408 -
409 -103
410 -00:07:53,490 ~-~-> 00:07:57,690
411 -complaint. I'm getting his I'm not getting a set up every
412 -
413 -104
414 -00:07:57,690 ~-~-> 00:08:02,970
415 -day and it's not been promised, okay, if you look at every
416 -
417 -105
418 -00:08:03,570 ~-~-> 00:08:08,040
419 -major that's paired against the dollar, you can get about
420 -
421 -106
422 -00:08:08,040 ~-~-> 00:08:13,620
423 -three to four solid setups per week. Now that means that
424 -
425 -107
426 -00:08:13,620 ~-~-> 00:08:15,900
427 -you're probably not going to get a set up every single train
428 -
429 -108
430 -00:08:15,900 ~-~-> 00:08:20,430
431 -day, chances are one pair among all the ones that are
432 -
433 -109
434 -00:08:20,430 ~-~-> 00:08:24,630
435 -available will provide you a setup to study. So you can
436 -
437 -110
438 -00:08:24,630 ~-~-> 00:08:29,040
439 -practice in your demo account with it. The emphasis is for
440 -
441 -111
442 -00:08:29,040 ~-~-> 00:08:33,900
443 -you to remember that you only need about 25 pips or so per
444 -
445 -112
446 -00:08:33,900 ~-~-> 00:08:38,490
447 -week. And if you're 2% of your account, and it may be high,
448 -
449 -113
450 -00:08:38,580 ~-~-> 00:08:42,450
451 -admittedly, for some of you, but if you have grown in your
452 -
453 -114
454 -00:08:42,450 ~-~-> 00:08:45,120
455 -understanding about what I'm teaching, and you're willing to
456 -
457 -115
458 -00:08:45,120 ~-~-> 00:08:50,580
459 -risk 2% it takes a little bit less than 25 pips per week to
460 -
461 -116
462 -00:08:50,580 ~-~-> 00:08:55,230
463 -double your account or make 6% compounded monthly. And I
464 -
465 -117
466 -00:08:55,230 ~-~-> 00:08:58,800
467 -think that's the objective that folks should be looking for
468 -
469 -118
470 -00:08:58,800 ~-~-> 00:09:03,120
471 -when they're new. Because it's realistic, it's low, but yet
472 -
473 -119
474 -00:09:03,120 ~-~-> 00:09:06,510
475 -it still doubles the account over the course of a 12 month,
476 -
477 -120
478 -00:09:07,110 ~-~-> 00:09:13,230
479 -year. So, if we're looking for one good setup that would
480 -
481 -121
482 -00:09:13,230 ~-~-> 00:09:18,420
483 -yield that 25 pips or so you only need one scalp. One setup
484 -
485 -122
486 -00:09:18,420 ~-~-> 00:09:25,440
487 -that does that. Now I started the current teaching week on
488 -
489 -123
490 -00:09:25,440 ~-~-> 00:09:29,880
491 -Twitter. Kind of like building the idea of making 50 pips
492 -
493 -124
494 -00:09:29,880 ~-~-> 00:09:34,410
495 -per week. If you frame your scalps in such a way that it
496 -
497 -125
498 -00:09:34,410 ~-~-> 00:09:38,490
499 -allows you to aim for 25 pips you only really need two
500 -
501 -126
502 -00:09:38,490 ~-~-> 00:09:42,930
503 -setups per week, don't you? Now, I like that model
504 -
505 -127
506 -00:09:42,930 ~-~-> 00:09:47,100
507 -personally, because it's very close to what I do as a short
508 -
509 -128
510 -00:09:47,100 ~-~-> 00:09:48,270
511 -term or intraday trader.
512 -
513 -129
514 -00:09:49,620 ~-~-> 00:09:52,530
515 -I know the likelihood is I want to be trading on Tuesdays
516 -
517 -130
518 -00:09:52,530 ~-~-> 00:09:55,890
519 -and Wednesdays, if I can get my entire weekly objective
520 -
521 -131
522 -00:09:55,890 ~-~-> 00:09:59,880
523 -which is 50 to 75 pips per week, if I can get that done in
524 -
525 -132
526 -00:09:59,880 ~-~-> 00:10:02,280
527 -one day then I won't do any more trading after that,
528 -
529 -133
530 -00:10:02,310 ~-~-> 00:10:05,550
531 -regardless of what day of the week it is. But usually I hone
532 -
533 -134
534 -00:10:05,550 ~-~-> 00:10:07,620
535 -in on Tuesday and Wednesday because they're primarily the
536 -
537 -135
538 -00:10:07,620 ~-~-> 00:10:11,550
539 -best days, whether bullish or bearish. If it's bullish for
540 -
541 -136
542 -00:10:11,550 ~-~-> 00:10:15,060
543 -the week, then I'm looking for the weekly low to form around
544 -
545 -137
546 -00:10:15,090 ~-~-> 00:10:20,730
547 -Tuesday or Wednesday's New York open. If I can anticipate a
548 -
549 -138
550 -00:10:20,730 ~-~-> 00:10:26,220
551 -lower close or weekly bearish candle, shooting with an
552 -
553 -139
554 -00:10:26,220 ~-~-> 00:10:28,050
555 -expectation that we're going to be seeing lower prices by
556 -
557 -140
558 -00:10:28,050 ~-~-> 00:10:31,680
559 -Friday's close relative to Sunday's opening, then I'll be
560 -
561 -141
562 -00:10:31,680 ~-~-> 00:10:34,800
563 -looking for Tuesday or Wednesday's price action to create
564 -
565 -142
566 -00:10:34,800 ~-~-> 00:10:38,160
567 -the high of the week. So if I can trade in sync with that
568 -
569 -143
570 -00:10:38,160 ~-~-> 00:10:45,540
571 -idea. It also formulates a lot more conviction and
572 -
573 -144
574 -00:10:45,540 ~-~-> 00:10:48,180
575 -confidence behind the setups that I'm looking to trade
576 -
577 -145
578 -00:10:48,210 ~-~-> 00:10:50,910
579 -especially with what's being described here. It's a rather
580 -
581 -146
582 -00:10:50,910 ~-~-> 00:10:54,930
583 -simplistic approach. It may have been an oversimplification
584 -
585 -147
586 -00:10:54,960 ~-~-> 00:10:58,800
587 -on my part, by way of creating this diagram but from an
588 -
589 -148
590 -00:10:58,800 ~-~-> 00:11:02,160
591 -internal standpoint, however, View the marketplace, this is
592 -
593 -149
594 -00:11:02,190 ~-~-> 00:11:05,850
595 -what I'm looking for. Okay? So if I see it on the daily
596 -
597 -150
598 -00:11:05,850 ~-~-> 00:11:10,620
599 -chart, chances are, the daily chart will probably sustain
600 -
601 -151
602 -00:11:10,620 ~-~-> 00:11:14,790
603 -the move for a few days, and you'll only need one trading
604 -
605 -152
606 -00:11:14,790 ~-~-> 00:11:17,670
607 -day. Okay, so if you have a scenario that's bullish or
608 -
609 -153
610 -00:11:17,670 ~-~-> 00:11:20,100
611 -bearish relative to what I just described here so far in
612 -
613 -154
614 -00:11:20,100 ~-~-> 00:11:24,810
615 -this video, you chances are you're probably gonna have one
616 -
617 -155
618 -00:11:24,810 ~-~-> 00:11:29,370
619 -day's worth of momentum. And that's all you need. So every
620 -
621 -156
622 -00:11:29,370 ~-~-> 00:11:33,270
623 -single pair does not move lockstep to one another. They're
624 -
625 -157
626 -00:11:33,270 ~-~-> 00:11:37,470
627 -not always moving in tandem. So what may be a good pair of
628 -
629 -158
630 -00:11:37,470 ~-~-> 00:11:41,700
631 -trade today may not be a pair that's really good to trade
632 -
633 -159
634 -00:11:41,700 ~-~-> 00:11:46,680
635 -tomorrow, but another pair may move in equal or better
636 -
637 -160
638 -00:11:46,680 ~-~-> 00:11:51,570
639 -fashion. In other words, the setups are plenty, but you have
640 -
641 -161
642 -00:11:51,570 ~-~-> 00:11:56,250
643 -to allow them to be presented in price action from the daily
644 -
645 -162
646 -00:11:56,250 ~-~-> 00:12:01,170
647 -chart and then not forcing it. So stay Look over at the
648 -
649 -163
650 -00:12:01,170 ~-~-> 00:12:03,870
651 -charts, I'll give you an example of what it looks like. And
652 -
653 -164
654 -00:12:03,870 ~-~-> 00:12:11,070
655 -we can use the kill zones. Okay, we're looking at the cable,
656 -
657 -165
658 -00:12:11,190 ~-~-> 00:12:16,170
659 -the daily chart. Now this scrolled through just found a
660 -
661 -166
662 -00:12:16,170 ~-~-> 00:12:18,510
663 -random place, it doesn't make a difference where we start
664 -
665 -167
666 -00:12:18,510 ~-~-> 00:12:25,410
667 -out. But I want you to take a look at the price action here.
668 -
669 -168
670 -00:12:26,340 ~-~-> 00:12:34,680
671 -And then we're going to look at this swing low, right here,
672 -
673 -169
674 -00:12:35,610 ~-~-> 00:12:41,100
675 -and it's on the heels of a previous short term high.
676 -
677 -170
678 -00:12:46,380 ~-~-> 00:12:49,860
679 -Okay, so we have a short term high here. Lower high to the
680 -
681 -171
682 -00:12:49,860 ~-~-> 00:12:53,100
683 -left, lower high to the right, high as high in the middle.
684 -
685 -172
686 -00:12:53,730 ~-~-> 00:13:00,000
687 -It breaks that. Okay, so now we're on a bye, watch for
688 -
689 -173
690 -00:13:00,000 ~-~-> 00:13:06,390
691 -scalping This is a swing high it's broken and we have to
692 -
693 -174
694 -00:13:06,390 ~-~-> 00:13:10,590
695 -wait for a swing low to form after this is broken so we're
696 -
697 -175
698 -00:13:10,590 ~-~-> 00:13:14,790
699 -going to be anticipating a retracement after this run up. So
700 -
701 -176
702 -00:13:14,790 ~-~-> 00:13:21,480
703 -as price starts to drop down we have a preliminary swing low
704 -
705 -177
706 -00:13:21,480 ~-~-> 00:13:25,560
707 -here Okay, so this candle is the third one we need to make
708 -
709 -178
710 -00:13:25,560 ~-~-> 00:13:28,950
711 -sure we wait for price to trade through this candles high
712 -
713 -179
714 -00:13:29,310 ~-~-> 00:13:32,970
715 -the very next day it doesn't do that. Okay, then we have
716 -
717 -180
718 -00:13:32,970 ~-~-> 00:13:39,210
719 -another candle form a potential swing low here so this
720 -
721 -181
722 -00:13:39,210 ~-~-> 00:13:41,370
723 -candle here we have to wait for this candle is high the
724 -
725 -182
726 -00:13:41,370 ~-~-> 00:13:44,040
727 -trade through very next candle doesn't do it. It does it
728 -
729 -183
730 -00:13:44,040 ~-~-> 00:13:49,230
731 -here. So now we can be a buyer here with a scout running
732 -
733 -184
734 -00:13:49,230 ~-~-> 00:13:54,750
735 -previous day's high which is this one. Okay, so one July
736 -
737 -185
738 -00:13:54,750 ~-~-> 00:14:00,630
739 -24 2017. That high again coming in at 130 47 That's where
740 -
741 -186
742 -00:14:00,630 ~-~-> 00:14:05,550
743 -the liquidity run is going to be right there. This candle on
744 -
745 -187
746 -00:14:05,550 ~-~-> 00:14:08,970
747 -the 25th of July is where we'll be looking for the setup.
748 -
749 -188
750 -00:14:14,250 ~-~-> 00:14:18,390
751 -Right there. Okay, and we're going to drop down into a
752 -
753 -189
754 -00:14:18,390 ~-~-> 00:14:20,790
755 -smaller timeframe, we'll use a 15 minute timeframe.
756 -
757 -190
758 -00:14:26,070 ~-~-> 00:14:30,930
759 -Okay. And scrunch this up with the date dividers and you
760 -
761 -191
762 -00:14:30,930 ~-~-> 00:14:38,670
763 -guys can see it. So previous day's high is right here. So
764 -
765 -192
766 -00:14:38,670 ~-~-> 00:14:42,660
767 -I'll put a horizontal line on the chart to facilitate that.
768 -
769 -193
770 -00:14:46,590 ~-~-> 00:14:51,030
771 -Okay, so here's where the liquidity is we're running for
772 -
773 -194
774 -00:14:51,150 ~-~-> 00:15:00,450
775 -3057. Okay, this day here we're looking for a scenario To
776 -
777 -195
778 -00:15:00,450 ~-~-> 00:15:11,670
779 -get long to run that liquidity pool. Okay, and we have this
780 -
781 -196
782 -00:15:12,660 ~-~-> 00:15:16,230
783 -again, it's the liquidity poor risk reaching for previous
784 -
785 -197
786 -00:15:16,230 ~-~-> 00:15:23,280
787 -day's high on this trading day when I use the market
788 -
789 -198
790 -00:15:23,880 ~-~-> 00:15:28,380
791 -sessions, I'm looking for London setups in New York setups
792 -
793 -199
794 -00:15:28,410 ~-~-> 00:15:33,240
795 -primarily, this is a London session low. Gonna let you see
796 -
797 -200
798 -00:15:33,240 ~-~-> 00:15:40,950
799 -that here. It's in London and we're going to use that. As I
800 -
801 -201
802 -00:15:40,950 ~-~-> 00:15:48,120
803 -mentioned in Volume One, I use session highs and lows. And
804 -
805 -202
806 -00:15:48,120 ~-~-> 00:15:53,790
807 -this is the highest portion of the day in terms of a 15
808 -
809 -203
810 -00:15:53,790 ~-~-> 00:15:57,810
811 -minute candle. Just put it right here. You guys can see it
812 -
813 -204
814 -00:15:57,810 ~-~-> 00:16:01,470
815 -so I'm using this one and this one framing the entire price.
816 -
817 -205
818 -00:16:02,790 ~-~-> 00:16:06,000
819 -So as price starts to stay here I'm not concerned about
820 -
821 -206
822 -00:16:06,000 ~-~-> 00:16:11,610
823 -anything until it gets down into the optimal trade entry 62%
824 -
825 -207
826 -00:16:11,610 ~-~-> 00:16:17,310
827 -retracement level respectively 70.5 and 79% okay you can see
828 -
829 -208
830 -00:16:17,310 ~-~-> 00:16:21,210
831 -price trades it hits it here. This candle comes in exactly
832 -
833 -209
834 -00:16:21,210 ~-~-> 00:16:28,800
835 -945 that's London and we're going into a nice run into
836 -
837 -210
838 -00:16:29,250 ~-~-> 00:16:33,060
839 -previous day's high. Okay, so you can see that was a nice
840 -
841 -211
842 -00:16:33,060 ~-~-> 00:16:39,240
843 -little scalp, it offered as much as 1020 3040 pips, to get
844 -
845 -212
846 -00:16:39,240 ~-~-> 00:16:44,070
847 -to the high and if we look for 10 to 20 pips of sweep bar
848 -
849 -213
850 -00:16:44,070 ~-~-> 00:16:50,880
851 -this high that takes us 1020 here, so 20 pips 40 pips 60
852 -
853 -214
854 -00:16:50,880 ~-~-> 00:16:57,030
855 -pips 70 pips or so in terms of potential price range. That
856 -
857 -215
858 -00:16:57,030 ~-~-> 00:17:00,660
859 -in itself is it for the week for me, that would be I
860 -
861 -216
862 -00:17:00,660 ~-~-> 00:17:03,210
863 -wouldn't need to do anything else. And it's hard to believe.
864 -
865 -217
866 -00:17:03,930 ~-~-> 00:17:06,570
867 -But that's how I operate. I don't look for a whole lot of
868 -
869 -218
870 -00:17:06,570 ~-~-> 00:17:09,840
871 -setups per week because I'm content with you doing one thing
872 -
873 -219
874 -00:17:09,840 ~-~-> 00:17:14,760
875 -well, and there it is. Now, if this were a more conservative
876 -
877 -220
878 -00:17:14,760 ~-~-> 00:17:18,630
879 -approach, you could be looking for the long down here based
880 -
881 -221
882 -00:17:18,630 ~-~-> 00:17:23,250
883 -on the optimal trade entry and reaching just to the old
884 -
885 -222
886 -00:17:23,250 ~-~-> 00:17:28,740
887 -high. Now if that's the case, say you're filled it, we'll
888 -
889 -223
890 -00:17:28,740 ~-~-> 00:17:34,650
891 -just round it to 130 20 that again, is getting out at 57
892 -
893 -224
894 -00:17:36,150 ~-~-> 00:17:40,380
895 -it's 37 pips or so. Okay, almost 40 pips we'll say 40 pips.
896 -
897 -225
898 -00:17:41,850 ~-~-> 00:17:44,700
899 -You only need to do one more trade for the week, pretend
900 -
901 -226
902 -00:17:44,700 ~-~-> 00:17:51,120
903 -pips to get a 50 PIP net return for the week. Now, there's a
904 -
905 -227
906 -00:17:51,120 ~-~-> 00:17:55,140
907 -lot of folks that will say, don't set targets don't set
908 -
909 -228
910 -00:17:56,550 ~-~-> 00:18:00,660
911 -goals for daily or weekly because you don't Know what the
912 -
913 -229
914 -00:18:00,660 ~-~-> 00:18:03,750
915 -markets going to do? Well, I would submit that that's
916 -
917 -230
918 -00:18:03,840 ~-~-> 00:18:08,010
919 -partially true. We don't know with any assurity what the
920 -
921 -231
922 -00:18:08,010 ~-~-> 00:18:11,700
923 -markets going to do. But we do have pretty strong
924 -
925 -232
926 -00:18:11,700 ~-~-> 00:18:15,120
927 -probabilities of wherever the market may reach for. And if
928 -
929 -233
930 -00:18:15,120 ~-~-> 00:18:18,360
931 -we can frame the idea of where we're trying to get in at
932 -
933 -234
934 -00:18:18,360 ~-~-> 00:18:22,170
935 -based on time and price kill zone and optimal trade entry
936 -
937 -235
938 -00:18:22,260 ~-~-> 00:18:25,680
939 -price, and where we're reaching for it, doesn't that not
940 -
941 -236
942 -00:18:25,890 ~-~-> 00:18:29,610
943 -offer us a definitive way of determining what could be
944 -
945 -237
946 -00:18:29,610 ~-~-> 00:18:33,360
947 -reasonably expected for that particular setup? And if we
948 -
949 -238
950 -00:18:33,360 ~-~-> 00:18:36,360
951 -know that we're looking at intraday setups like this is
952 -
953 -239
954 -00:18:36,360 ~-~-> 00:18:39,540
955 -typically five days per week, unless it's a holiday or the
956 -
957 -240
958 -00:18:39,540 ~-~-> 00:18:42,840
959 -markets are not trading because of some other bank holiday
960 -
961 -241
962 -00:18:42,840 ~-~-> 00:18:47,100
963 -whatever we don't want to trade it. We can see many
964 -
965 -242
966 -00:18:47,100 ~-~-> 00:18:55,200
967 -instances where 25 to 50 pips is rather easy to get now.
968 -
969 -243
970 -00:18:55,800 ~-~-> 00:18:59,340
971 -It's when we get into the I want to make 250 to 500 pips per
972 -
973 -244
974 -00:18:59,340 ~-~-> 00:19:03,270
975 -week. Then it becomes a little daunting in terms of a task.
976 -
977 -245
978 -00:19:03,510 ~-~-> 00:19:08,940
979 -So I think by focusing on 2025 pips per setup and an aiming
980 -
981 -246
982 -00:19:08,940 ~-~-> 00:19:10,590
983 -for two good ones per week,
984 -
985 -247
986 -00:19:11,850 ~-~-> 00:19:16,620
987 -I think 50 pips is a really low hanging fruit reachable,
988 -
989 -248
990 -00:19:16,680 ~-~-> 00:19:20,970
991 -achievable and certainly realistic in the scope of a
992 -
993 -249
994 -00:19:20,970 ~-~-> 00:19:24,810
995 -developing trader. Will you get it every week? No. Will you
996 -
997 -250
998 -00:19:24,810 ~-~-> 00:19:28,140
999 -get it right out the gate starting using my concepts? No.
1000 -
1001 -251
1002 -00:19:28,800 ~-~-> 00:19:32,490
1003 -But over time, you will eventually grow into that expectancy
1004 -
1005 -252
1006 -00:19:32,490 ~-~-> 00:19:37,140
1007 -for a nice return of 50 pips per week. You can frame your
1008 -
1009 -253
1010 -00:19:37,140 ~-~-> 00:19:38,400
1011 -entire career on that.