Would you like to inspect the original subtitles? These are the user uploaded subtitles that are being translated:
1
00:00:11,700 --> 00:00:12,300
Welcome back folks.
2
00:00:12,300 --> 00:00:14,399
This is February, 2017.
3
00:00:15,570 --> 00:00:19,560
Swing trading, lesson number two, the
elements to successful swing trading.
4
00:00:24,900 --> 00:00:25,230
Okay.
5
00:00:25,230 --> 00:00:27,300
Successful swing trading, hallmark.
6
00:00:28,724 --> 00:00:28,995
Okay.
7
00:00:28,995 --> 00:00:33,555
The first is going to be an obvious
trend in higher timeframe charts.
8
00:00:33,765 --> 00:00:36,615
That means it's obviously moving
higher or wanting to move higher
9
00:00:37,155 --> 00:00:40,845
and let the consolidation, or
it's trying to move lower or it's
10
00:00:40,845 --> 00:00:46,345
already left the consolidation and
started moving lower institutional
11
00:00:46,345 --> 00:00:48,625
order flow on the hard timeframe.
12
00:00:48,625 --> 00:00:50,004
Charts must be clear.
13
00:00:50,724 --> 00:00:54,175
That means is it giving you
clear indications that it
14
00:00:54,175 --> 00:00:55,765
wants to trade higher or lower?
15
00:01:00,655 --> 00:01:02,695
Interest rate markets support the trade.
16
00:01:03,445 --> 00:01:05,035
Are we seeing higher interest rates?
17
00:01:05,545 --> 00:01:06,835
Are we seeing lower interest rates?
18
00:01:07,315 --> 00:01:10,525
Are we starting to see the divergence
in the yields that would indicate
19
00:01:10,525 --> 00:01:13,855
a shift that's most likely going
to occur in the near future
20
00:01:17,755 --> 00:01:18,595
cot data?
21
00:01:18,595 --> 00:01:20,005
That's commitment of traders report.
22
00:01:20,815 --> 00:01:22,134
Is it confirming now?
23
00:01:22,134 --> 00:01:25,315
It's not required or necessary, but this
can enhance the probabilities of the.
24
00:01:28,530 --> 00:01:34,740
Opposing PDA or premium to discount
arrays are obvious in the charts.
25
00:01:34,740 --> 00:01:36,929
That's on the monthly, weekly, and daily
26
00:01:41,090 --> 00:01:42,350
and seasonal tendencies.
27
00:01:42,710 --> 00:01:45,590
And again, this is not required, but
it does enhance the probability of the
28
00:01:45,590 --> 00:01:53,380
trade panning out profitably and the
supporting intermarket analysis confirm.
29
00:01:54,270 --> 00:01:55,440
Your idea in the trade.
30
00:01:57,089 --> 00:02:01,979
Now, obviously this is a very broad
overview and it's not every single
31
00:02:01,979 --> 00:02:05,759
hallmark, but in my trading for swing
trades, these are the types of things
32
00:02:05,759 --> 00:02:13,500
I like to look for the larger amount of
things on this list that I can accumulate
33
00:02:13,859 --> 00:02:16,799
to build the idea that my trade is valid.
34
00:02:17,070 --> 00:02:20,670
The more likely the trade does
pan out, there's going to be
35
00:02:20,670 --> 00:02:22,049
times where you don't have.
36
00:02:23,010 --> 00:02:26,340
Every one of these things on
the list in your favor, but
37
00:02:26,340 --> 00:02:28,109
the trade will still be viable.
38
00:02:29,040 --> 00:02:33,540
If you stick to trades to have these
hallmarks in them, swing trading
39
00:02:33,540 --> 00:02:34,770
will be a lot easier for you.
40
00:02:35,130 --> 00:02:36,450
Your accuracy will be stunning.
41
00:02:36,720 --> 00:02:40,650
You'll be really cherry picking
the best scenarios and the trades
42
00:02:40,650 --> 00:02:41,880
will pan out in your favor.
43
00:02:43,170 --> 00:02:47,280
Before we continue, I want to
preface it by saying that this is
44
00:02:47,280 --> 00:02:49,920
going to be one of those teachings.
45
00:02:50,850 --> 00:02:53,700
Are going to probably be frowned upon.
46
00:02:53,700 --> 00:02:59,790
This is going to be the, the low end
delivery of February in most people's
47
00:02:59,790 --> 00:03:01,110
eyes in this, in this community.
48
00:03:01,260 --> 00:03:03,810
And the reason why this is
the one that has the homework
49
00:03:03,810 --> 00:03:05,730
in it, no one likes homework.
50
00:03:05,740 --> 00:03:07,200
Remember what it was like
to be in grade school.
51
00:03:08,054 --> 00:03:12,945
But for me to take you to the next level,
understanding number one, we had to test
52
00:03:13,065 --> 00:03:14,984
where you're at and your understanding.
53
00:03:15,255 --> 00:03:19,965
We have to reveal to you where you are
in your understanding, and by giving us a
54
00:03:19,965 --> 00:03:27,555
basis on what's to relate that to, before
I give you the swing trading model, I
55
00:03:27,555 --> 00:03:30,734
want you to be engaged in these ideas.
56
00:03:30,734 --> 00:03:33,435
I'm going to share with you in
this teaching for the elements
57
00:03:33,435 --> 00:03:36,614
of successful swing trading, I'm
going to give you broader view.
58
00:03:37,875 --> 00:03:40,005
An idea, ideas to stimulate
your thought process.
59
00:03:40,695 --> 00:03:40,995
Okay.
60
00:03:40,995 --> 00:03:44,265
And the homework's going to be at the
end of the last slide, but I want you
61
00:03:44,265 --> 00:03:47,745
to understand while we go through this,
I want you to think about these things
62
00:03:47,745 --> 00:03:51,165
because it's going to help you with
the homework assignment at the end.
63
00:03:52,155 --> 00:03:54,825
If you're not paying attention, it's
not a lot of charts in this ones.
64
00:03:54,855 --> 00:03:56,235
It's all theory.
65
00:03:56,235 --> 00:03:59,355
I want you to think about what I'm
asking you to do, because I'm going to
66
00:03:59,355 --> 00:04:03,045
fill in all the gaps that you create for
yourself, or would you have right now
67
00:04:03,435 --> 00:04:05,685
and your understanding as it relates to
swing trading, when we get to lessons.
68
00:04:08,230 --> 00:04:08,410
Okay.
69
00:04:08,410 --> 00:04:12,310
Institutional sponsorship, uh,
when you're looking to buy, are
70
00:04:12,310 --> 00:04:15,220
there signs in relative strength
analysis to support the trade?
71
00:04:16,180 --> 00:04:21,100
That is to suggest that if you're buying
Euro dollar on a lower, low, the dollar
72
00:04:21,100 --> 00:04:25,420
index, is it seeing a lower high that
would be weakness on a dollar failing
73
00:04:25,420 --> 00:04:29,500
to make a higher high and the lower
low on your dollar would be running
74
00:04:29,500 --> 00:04:31,210
out to sell stocks before the move.
75
00:04:33,419 --> 00:04:36,210
And when shorting are there signs in
relative strength analysis to support
76
00:04:36,210 --> 00:04:41,130
portrayed an example of shorting
dollar swissy on a lower high is the
77
00:04:41,130 --> 00:04:42,900
dollar index seeing that higher high.
78
00:04:44,400 --> 00:04:49,320
So they would be SMT, diversions ideas
to measure institutional sponsors.
79
00:04:53,270 --> 00:04:54,890
Bank accumulation and distribution.
80
00:04:55,039 --> 00:05:00,830
That's seen by studying the price action
and while prices moving higher or all
81
00:05:00,830 --> 00:05:05,210
the down candles becoming support and
seeing higher prices thereafter and are
82
00:05:05,210 --> 00:05:08,479
the swing highs, breaking and seeing
higher highs after the swing highs
83
00:05:08,479 --> 00:05:14,750
broken and in down markets or bearish
markets are the up candles becoming
84
00:05:14,750 --> 00:05:17,840
resistance and seeing lower prices.
85
00:05:17,840 --> 00:05:18,140
They're at.
86
00:05:19,020 --> 00:05:20,550
And are the swing lows breaking.
87
00:05:20,560 --> 00:05:24,690
And are we seeing lower prices as a
result, basically put common terms,
88
00:05:24,750 --> 00:05:29,040
is, are we seeing higher highs and
higher lows when it's bullish and
89
00:05:29,040 --> 00:05:33,000
our resistance levels breaking and
new support levels being found?
90
00:05:33,300 --> 00:05:36,240
The way we look for bank
accumulation is we look at every
91
00:05:36,240 --> 00:05:37,860
down candle to support new.
92
00:05:38,690 --> 00:05:42,290
Because the new buying is going
occur when the market recedes
93
00:05:42,290 --> 00:05:44,300
backwards or retraces and goes lower.
94
00:05:44,750 --> 00:05:47,750
When this happens, that gives them buying
opportunities to buy at a discount.
95
00:05:47,750 --> 00:05:52,580
They did not buy or do not buy rather,
um, at premium prices they have to
96
00:05:52,580 --> 00:05:55,850
buy when the algorithm permits them an
opportunity to buy at a lower price.
97
00:05:56,900 --> 00:06:01,940
When we see lower bear markets trending
lower, we wouldn't be focusing on these
98
00:06:01,940 --> 00:06:05,120
up candles because we know that the
market rallying is going to give them
99
00:06:05,120 --> 00:06:06,920
a short term premium to sell more than.
100
00:06:08,265 --> 00:06:12,735
And establish new shorts or add
new shorts to the bear model that's
101
00:06:12,735 --> 00:06:14,055
unfolding in the marketplace.
102
00:06:14,775 --> 00:06:17,655
That's going to promote
resistance ideas and are we seeing
103
00:06:17,655 --> 00:06:19,035
support levels of giving way?
104
00:06:19,065 --> 00:06:23,535
Are we seeing lower prices and a
failure to break through resistance
105
00:06:23,535 --> 00:06:27,045
levels and new creation of resistance?
106
00:06:27,045 --> 00:06:28,815
That was in the form of up candles.
107
00:06:29,205 --> 00:06:34,275
We measure accumulation from
the banks by buying it downtown.
108
00:06:35,669 --> 00:06:40,200
And we measure bank distribution
at up candles as resistance.
109
00:06:43,370 --> 00:06:43,760
Okay.
110
00:06:43,820 --> 00:06:45,560
When you're looking for your
setups, you want to be looking
111
00:06:45,560 --> 00:06:49,159
for Marcus to have clear price
action and very discernible level.
112
00:06:50,159 --> 00:06:50,400
Okay.
113
00:06:50,400 --> 00:06:55,710
Above where we are current market price
or below the market price, regardless
114
00:06:55,710 --> 00:06:57,030
of what asset class you're trading.
115
00:06:57,090 --> 00:06:57,479
Okay.
116
00:06:57,510 --> 00:07:00,659
The PDAs are obvious and
they're easy to identify.
117
00:07:00,989 --> 00:07:01,739
It means above us.
118
00:07:01,739 --> 00:07:06,359
We can clearly see as any voids mitigation
blocks, breakers, fair value gaps.
119
00:07:08,325 --> 00:07:10,604
Rejection blocks, old highs or lows.
120
00:07:10,965 --> 00:07:15,765
And below us, we would see mitigation
blocks, breakers, liquidity voids,
121
00:07:15,825 --> 00:07:20,655
fair value gaps, bullish order blocks,
rejection blocks, and old lows or old
122
00:07:20,655 --> 00:07:24,765
highs in that spectrum of the PDAs.
123
00:07:25,770 --> 00:07:29,550
The more obvious they are in terms of
the current price action and you're
124
00:07:29,550 --> 00:07:33,870
trading at for that asset class on their
study, the more discernible, more clear
125
00:07:33,870 --> 00:07:39,330
and obvious they are the better that
trade's going to be price not traded
126
00:07:39,330 --> 00:07:43,890
at in recent weeks or months left and
imbalance basis, monthly and weekly.
127
00:07:43,890 --> 00:07:47,340
Those levels are going to be a high
draw on price, especially as it
128
00:07:47,340 --> 00:07:48,480
relates to monthly and weekly level.
129
00:07:49,215 --> 00:07:53,895
So price is going to return back
to fair value, or it's going to
130
00:07:53,895 --> 00:07:55,605
seek a new level of imbalance.
131
00:07:55,635 --> 00:07:59,025
If price is at equilibrium, we're going
to be looking for an opportunity to
132
00:07:59,025 --> 00:08:01,035
see that price move to an imbalance.
133
00:08:01,515 --> 00:08:04,365
Preferably we want to see it move
out of a consolidation and then it
134
00:08:04,365 --> 00:08:05,745
will move to an imbalanced level.
135
00:08:05,955 --> 00:08:08,175
If it's moving higher, that's
going to go to a premium.
136
00:08:08,535 --> 00:08:10,875
If it breaks up a consolidation,
lower we're looking for it
137
00:08:10,875 --> 00:08:12,195
to go to a deep discount.
138
00:08:12,705 --> 00:08:15,615
That's an imbalance on the buy-side
and an imbalance on the sell side.
139
00:08:15,615 --> 00:08:16,225
We'll be moving to.
140
00:08:20,490 --> 00:08:24,570
The cleanest price action or the
most favorable markets to trade in.
141
00:08:25,260 --> 00:08:28,320
There's less chance for our
erroneous price action to
142
00:08:28,320 --> 00:08:29,880
distract us and or fool us.
143
00:08:30,600 --> 00:08:32,140
I've been doing this for two decades.
144
00:08:33,570 --> 00:08:38,490
And I have learned the hardest
lesson is to demand the cleanest
145
00:08:38,490 --> 00:08:39,720
price action in your charts.
146
00:08:39,750 --> 00:08:44,250
The more obvious price action is the
more favorable the outcome's going to be.
147
00:08:44,400 --> 00:08:49,230
It's, it's simple as that, the times that
I forced the idea, the times that I made
148
00:08:49,710 --> 00:08:51,990
the idea come to fruition in my own mind.
149
00:08:52,350 --> 00:08:54,510
And K instead of just simply
looking at the chart and saying,
150
00:08:54,510 --> 00:08:56,460
okay, is this outcome favorable?
151
00:08:56,670 --> 00:08:58,020
Is it likely, is it.
152
00:08:59,055 --> 00:09:02,895
Or am I just really forcing something
the times that the trade does literally
153
00:09:02,895 --> 00:09:06,105
leaps off the chart, those instances
that's when the trade is most highest
154
00:09:06,105 --> 00:09:10,035
probable, it's going to be the easiest
ones to take too, because they're just,
155
00:09:10,275 --> 00:09:14,355
they're very easy to see if you have
to study the chart and look for in
156
00:09:14,355 --> 00:09:16,185
your Hammond hall about back and forth.
157
00:09:16,185 --> 00:09:19,295
And you argue with yourself, is
this really, that is this an oral
158
00:09:19,295 --> 00:09:21,015
block or is this a liquidity point?
159
00:09:21,255 --> 00:09:24,495
If you're having to convince
yourself, chances are, it's probably
160
00:09:24,495 --> 00:09:25,935
not a good trait pass on it.
161
00:09:28,395 --> 00:09:30,405
And it's price respecting
institutional levels.
162
00:09:30,405 --> 00:09:32,055
That means the big figure levels.
163
00:09:32,085 --> 00:09:33,045
Zero, zero levels.
164
00:09:33,105 --> 00:09:36,855
The 50 mid figure levels,
the 80 level, the 20 level or
165
00:09:36,855 --> 00:09:38,385
the small round numbers, 37.
166
00:09:44,605 --> 00:09:44,815
Okay.
167
00:09:44,815 --> 00:09:48,265
And when we're really looking at in less
than three, or are we talking about more
168
00:09:48,265 --> 00:09:53,275
specific rules and role-based conceptual
methods, but in our trading in every
169
00:09:53,275 --> 00:09:56,155
discipline, not just swing trading,
we have to have role-based conceptual
170
00:09:56,155 --> 00:10:01,165
methods and every trade has to pass
through a rule-based filtering process.
171
00:10:03,495 --> 00:10:06,345
Now the rules are standardized and
they're static, and that means they
172
00:10:06,345 --> 00:10:11,235
cannot be changing on each and every
trade set up, whatever we do, we do
173
00:10:11,235 --> 00:10:13,185
the same procedure, every single trip.
174
00:10:15,450 --> 00:10:20,100
When the trade setups fail, the filtering
process, the trade has passed on period.
175
00:10:20,220 --> 00:10:21,060
No exceptions.
176
00:10:21,090 --> 00:10:23,160
We do not make the rule exceptions.
177
00:10:23,190 --> 00:10:25,890
Well, ICT said he liked that trade.
178
00:10:25,950 --> 00:10:28,650
If you're a rule-based idea
says you can't take that trade.
179
00:10:28,650 --> 00:10:32,610
And you hear me say, I like to take
that trade you don't side with ICT,
180
00:10:32,610 --> 00:10:34,140
you started with your wall based ideas.
181
00:10:36,240 --> 00:10:40,950
When the trade setups pass the filtering
process, the trade is executed.
182
00:10:42,105 --> 00:10:46,905
Risk and equity management permitting
now, just because we see a set up there,
183
00:10:46,935 --> 00:10:51,135
we may already have a trade or two
trades open, and our risk parameters
184
00:10:51,285 --> 00:10:55,665
will not permit us to have more
allocation exposed to the marketplace.
185
00:10:55,724 --> 00:11:00,615
We cannot assume more risk than a specific
percentage just because the trades.
186
00:11:01,500 --> 00:11:04,650
Doesn't mean we break our money-management
rules just to take the trade.
187
00:11:05,040 --> 00:11:09,390
We either have to weigh out whether or
not that new trade is more valid than
188
00:11:09,390 --> 00:11:13,290
the ones that we have existing and
or if it's a better potential payer.
189
00:11:13,500 --> 00:11:17,670
So in other words, if, if we have a
trade in, say, see, we're in gold,
190
00:11:17,670 --> 00:11:21,660
we're long, and we think 1240 is going
to unfold, but then we look at the
191
00:11:21,660 --> 00:11:25,199
soybean market and we think soybeans
are going to go up a full dollar.
192
00:11:25,800 --> 00:11:29,250
Well, that means it's probably
going to be a better payout, right?
193
00:11:29,940 --> 00:11:33,930
The soybean market, because it
may explode faster and you get
194
00:11:33,930 --> 00:11:35,130
more velocity with your money.
195
00:11:35,130 --> 00:11:40,890
So if that happens, we may see
a opportunity that trans buyers
196
00:11:40,980 --> 00:11:45,120
over a shorter period of time
in soybeans than we do in gold.
197
00:11:45,720 --> 00:11:48,420
And you have to weigh these factors out.
198
00:11:48,480 --> 00:11:51,960
Well, every time we take a trade, for
instance, you may see an opportunity
199
00:11:51,960 --> 00:11:56,190
in the Euro dollar and you're
already, um, short dollar Swiss.
200
00:11:57,260 --> 00:12:00,140
And, you know, and you have to take
these in consideration, which, which one
201
00:12:00,140 --> 00:12:05,060
has, the more likely probable outcome
that would be profitable for you.
202
00:12:05,720 --> 00:12:10,790
If you see a better setup and you want
to cut the trade that you have on now to
203
00:12:10,790 --> 00:12:15,830
take on a new trade, that's the way you
would do it, but you cannot take a new
204
00:12:15,830 --> 00:12:17,810
setup just because it's a good setup.
205
00:12:18,170 --> 00:12:18,800
You can't keep.
206
00:12:19,490 --> 00:12:20,300
Open risk.
207
00:12:20,600 --> 00:12:24,860
And the other trades, you have to
take something off or pass on the
208
00:12:24,860 --> 00:12:28,160
trade, but you cannot take the setup.
209
00:12:28,610 --> 00:12:31,130
If you're risk and or equity
management, doesn't permit it.
210
00:12:35,060 --> 00:12:40,250
Probabilities, reward, diligence,
limiting setups to three to one reward.
211
00:12:40,250 --> 00:12:40,790
The risk permitted.
212
00:12:41,655 --> 00:12:44,655
As low as 34% accuracy
to be net profitable.
213
00:12:44,685 --> 00:12:48,465
Now it's not wildly profitable,
but marginally profitable.
214
00:12:49,125 --> 00:12:51,225
And that means you're making
money when you're wrong.
215
00:12:51,225 --> 00:12:52,875
66% of the time.
216
00:12:53,205 --> 00:12:55,635
Now, for some of you, that
sounds like a good idea.
217
00:12:56,835 --> 00:12:59,955
If you're new and you know what it was
like to be a new trader, you were probably
218
00:12:59,955 --> 00:13:03,705
like a 99% accuracy in terms of being.
219
00:13:04,310 --> 00:13:07,430
And I believe me, I know what that
felt like when we see setups that
220
00:13:07,430 --> 00:13:10,910
pay out three to one, or we look for
setups that we're willing to hold for
221
00:13:10,970 --> 00:13:12,770
three times what our initial risk was.
222
00:13:13,189 --> 00:13:16,550
We're giving ourselves the
potential to do very well and not
223
00:13:16,550 --> 00:13:17,840
require a great deal of accuracy.
224
00:13:18,860 --> 00:13:23,540
But if we can frame our setups with
rewards of five times our risk, we
225
00:13:23,540 --> 00:13:27,500
have a higher odds of being profitable
and we can endure losses much easier.
226
00:13:29,150 --> 00:13:31,610
Now, the setups that we have,
the most movement potential.
227
00:13:32,565 --> 00:13:35,535
The better risk reward ratio is now,
obviously it's, it's common sense,
228
00:13:35,685 --> 00:13:39,525
but I did say that we would mention
in every teaching discipline, we
229
00:13:39,525 --> 00:13:42,375
would mention some form of money
management and risk management.
230
00:13:42,645 --> 00:13:44,865
Now, this is the only thing we're
going to be talking about, but I want
231
00:13:44,865 --> 00:13:47,055
you to think about this because it's
going to be part of your homework
232
00:13:50,205 --> 00:13:53,595
and that's brings us to our
homework, which is a mock trading.
233
00:13:54,344 --> 00:13:58,395
Now mock trading plan is something that
you are going to be formulating yourself.
234
00:13:58,425 --> 00:13:59,895
You're going to create it yourself.
235
00:14:00,074 --> 00:14:03,974
You're going to map out everything
from the beginning process to the
236
00:14:03,974 --> 00:14:07,964
end and what you do throughout the
trading process of being in the trade.
237
00:14:08,295 --> 00:14:10,245
What starts the trade
with executes the trade?
238
00:14:10,515 --> 00:14:11,685
What makes your stop loss?
239
00:14:11,685 --> 00:14:12,285
What it is?
240
00:14:12,385 --> 00:14:14,084
When do you move your stop loss?
241
00:14:14,474 --> 00:14:15,795
When do you take your profits?
242
00:14:16,155 --> 00:14:18,495
When do you collapse the trade?
243
00:14:19,724 --> 00:14:20,625
How do you pick the trade?
244
00:14:20,625 --> 00:14:22,214
How do you, how are you
going to frame this?
245
00:14:22,980 --> 00:14:23,280
Okay.
246
00:14:23,290 --> 00:14:25,740
I already know some of you have
no idea what to do with this.
247
00:14:25,800 --> 00:14:26,069
Okay.
248
00:14:26,069 --> 00:14:29,579
But I still want your involvement
because it's going to help you
249
00:14:29,610 --> 00:14:32,550
jump a big, huge step forward.
250
00:14:32,550 --> 00:14:35,699
And your understanding when I give you
less than three, I'm gonna actually
251
00:14:35,699 --> 00:14:40,110
walk you through the process of building
a swing trading model from ground up.
252
00:14:41,160 --> 00:14:44,370
But the first thing you want to be doing
is you want to be outlining what you
253
00:14:44,610 --> 00:14:47,790
right now in your present, understanding
what you would look for for an initial.
254
00:14:48,540 --> 00:14:49,200
Opportunity.
255
00:14:49,230 --> 00:14:53,730
What frames that opportunity, what would
you see as an opportunity needed to
256
00:14:53,730 --> 00:14:57,720
make that in a form where you can put
it to paper, you're gonna write it out.
257
00:14:57,720 --> 00:15:01,230
What makes your opportunity
and opportunity and what are
258
00:15:01,230 --> 00:15:02,460
you looking for in the chart?
259
00:15:03,360 --> 00:15:07,080
And then secondly, what would you identify
as a trade set up for valid swings?
260
00:15:07,800 --> 00:15:11,850
Now it's one thing, knowing what
you're looking for, but then how do
261
00:15:11,850 --> 00:15:13,589
you frame it as a, as a swing trade?
262
00:15:13,620 --> 00:15:17,579
And again, I don't expect everyone to
use, to know how to do this, obviously,
263
00:15:17,579 --> 00:15:21,540
because you paid the learn, but I
want you to do the work to try your
264
00:15:21,540 --> 00:15:26,250
best right now with what you know, to
try to formulate a mock trading plan.
265
00:15:26,430 --> 00:15:28,050
That's all we're doing
is it's an exercise.
266
00:15:28,050 --> 00:15:28,410
Okay.
267
00:15:30,255 --> 00:15:32,235
How would you determine
your profit objectives?
268
00:15:32,235 --> 00:15:36,584
What makes the objective a goal
in terms of, if it gets to that
269
00:15:36,584 --> 00:15:37,875
level, I'm going to take profit.
270
00:15:38,145 --> 00:15:38,895
What is that?
271
00:15:38,895 --> 00:15:40,035
How are you defining it?
272
00:15:40,035 --> 00:15:44,745
And it has to be in a static form
where every trade will be filtered
273
00:15:44,745 --> 00:15:48,885
in that same capacity, every single
setup, every trading opportunity.
274
00:15:48,975 --> 00:15:49,814
It's the same way.
275
00:15:49,875 --> 00:15:52,454
How are you looking for the
setups to be profitable?
276
00:15:52,454 --> 00:15:53,895
What makes that a profitable trade?
277
00:15:56,025 --> 00:15:57,765
How would you frame the risk management?
278
00:15:57,765 --> 00:15:58,665
How much are you going to risk?
279
00:15:59,775 --> 00:16:03,194
How much of your account are
going to have a total exposure.
280
00:16:04,035 --> 00:16:06,075
And when are you going to move your stop?
281
00:16:06,735 --> 00:16:08,175
Or are you going to take partial profits?
282
00:16:08,205 --> 00:16:10,365
I want to see this in writing.
283
00:16:10,365 --> 00:16:14,655
I want you to share it with me
either by way of the forum preface.
284
00:16:15,465 --> 00:16:19,575
Or if you just really, really shy, you
just want to send it to me in an email.
285
00:16:19,605 --> 00:16:20,175
That's fine.
286
00:16:20,355 --> 00:16:22,815
But if you're going to do it in
an email, just know that I'm not
287
00:16:22,815 --> 00:16:24,165
gonna probably get to it right away.
288
00:16:24,345 --> 00:16:28,635
I'll look at it over the course of the
coming months, but for now, just to
289
00:16:28,635 --> 00:16:30,285
be interactive for those that have.
290
00:16:30,839 --> 00:16:33,930
The willingness to do it,
you know, consider the form.
291
00:16:34,020 --> 00:16:35,910
And what would your
filter process consist of?
292
00:16:35,970 --> 00:16:38,910
Like how, how are you going to go
through what you understand about
293
00:16:38,910 --> 00:16:40,920
the marketplace and ICT concepts?
294
00:16:41,220 --> 00:16:42,990
How are you filtering the markets?
295
00:16:43,140 --> 00:16:44,670
How are you filtering your trade ideas?
296
00:16:45,060 --> 00:16:49,770
What is the step-by-step process
that you're going to go through to
297
00:16:49,770 --> 00:16:52,620
eliminate the opportunities that
don't have the highest probabilities
298
00:16:52,680 --> 00:16:55,350
or to move to the executable stage?
299
00:16:55,380 --> 00:16:55,560
Okay.
300
00:16:56,280 --> 00:16:58,980
Your trades, what is
that process going to be?
301
00:16:58,980 --> 00:17:03,540
I want over in vague terms in this
teaching here to stimulate your ideas and
302
00:17:03,540 --> 00:17:08,129
thought processes, but how are you in this
mock homework of trading plan development?
303
00:17:08,190 --> 00:17:11,849
I want you to create a swing trading
model for you, and it's not that
304
00:17:11,849 --> 00:17:12,660
you're going to be trading on it.
305
00:17:12,660 --> 00:17:15,690
I'm not asking you to trade it, not
even in a demo, but I just want to see
306
00:17:15,690 --> 00:17:17,010
where you're at in your understanding.
307
00:17:17,220 --> 00:17:20,310
And I want you to have a record of
what you think you know right now.
308
00:17:20,609 --> 00:17:23,430
And then when we complete this
month, how much that increases.
309
00:17:23,640 --> 00:17:23,879
Okay.
310
00:17:23,879 --> 00:17:25,200
Cause it's going to give you a big.
311
00:17:26,010 --> 00:17:29,310
Eric to know how much you really
gleaned from this month's content.
312
00:17:31,890 --> 00:17:33,720
Now less than three, I'm
going to address all this.
313
00:17:33,750 --> 00:17:36,300
And I'm going to actually present
a model for your contrast.
314
00:17:36,330 --> 00:17:38,700
Now don't pass on this exercise.
315
00:17:39,510 --> 00:17:43,770
You want to put it to paper form, and
if you are willing, please consider
316
00:17:43,770 --> 00:17:45,320
sharing it with the ICT forum and other.
317
00:17:46,679 --> 00:17:49,830
That way you can see what other
people will have in terms of feedback.
318
00:17:49,860 --> 00:17:52,949
And they may actually may instill
some more ideas because it's going
319
00:17:52,949 --> 00:17:56,879
to be this coming Friday before
you actually get less than three.
320
00:17:57,330 --> 00:17:59,760
So I want you to have some time to
interact with one another on the
321
00:17:59,760 --> 00:18:01,379
forum and also to think about it.
322
00:18:01,679 --> 00:18:02,790
But you have a time limit.
323
00:18:02,790 --> 00:18:05,730
You have to have it done by Wednesday.
324
00:18:06,120 --> 00:18:07,709
You have to have it up there by Wednesday.
325
00:18:08,530 --> 00:18:09,340
You have to have it to pee.
326
00:18:09,370 --> 00:18:11,260
You have to have it in paper by Wednesday.
327
00:18:11,500 --> 00:18:14,950
And the reason why, cause I don't
want you to cheating and missing
328
00:18:14,950 --> 00:18:18,070
the lovely opportunity of being
able to take that big growth spurt.
329
00:18:18,580 --> 00:18:19,870
When I give you less than three.
330
00:18:20,770 --> 00:18:24,460
Now you're going to use one
example in hindsight for your
331
00:18:24,460 --> 00:18:26,590
study for illustration purposes.
332
00:18:26,650 --> 00:18:30,310
Now again, you don't have
to do this in the form.
333
00:18:30,400 --> 00:18:35,260
I'm asking you to consider it, but
for your own study, you need to
334
00:18:35,260 --> 00:18:37,120
find an opportunity in hindsight.
335
00:18:38,100 --> 00:18:42,060
As an illustrator, a point of reference
using what you think you know about
336
00:18:42,060 --> 00:18:48,570
swing trading and all the ICT concepts
right now have that used for your record.
337
00:18:48,990 --> 00:18:51,960
And then when we complete this
month, I want you to go through the
338
00:18:51,960 --> 00:18:54,990
process of actually how I show you
how to build a swing trading model.
339
00:18:56,054 --> 00:18:57,014
What procedures do you go through?
340
00:18:57,014 --> 00:18:57,915
What steps you go through.
341
00:18:58,274 --> 00:19:00,074
And then we're actually going to
go into marketplace and find a
342
00:19:00,074 --> 00:19:01,485
setup and actually execute on it.
343
00:19:01,965 --> 00:19:04,965
And then we'll see how that pans
out going into the coming weeks
344
00:19:04,965 --> 00:19:06,735
after we complete this content.
345
00:19:07,395 --> 00:19:11,955
But you're going to have a greater
understanding about what it is.
346
00:19:12,195 --> 00:19:16,125
You should know once less than
three has been given to you, and
347
00:19:16,125 --> 00:19:18,284
then it'll fill in all the gaps.
348
00:19:18,585 --> 00:19:21,465
And then once we get into the
specific setups, that'll make
349
00:19:21,465 --> 00:19:23,745
it really rich for you because
then you'll know what the setups.
350
00:19:24,840 --> 00:19:28,919
In terms of swing trading and it's
only two, it's not a whole lot.
351
00:19:29,310 --> 00:19:31,260
And then you'll know how
to go about it yourself.
352
00:19:31,740 --> 00:19:36,659
But if you skip on this lesson, I promise
you, you're going to miss the wonderful
353
00:19:36,659 --> 00:19:38,730
opportunity of filling in a lot of gaps.
354
00:19:39,179 --> 00:19:41,460
If you think you're just going
to just walk less than three.
355
00:19:41,460 --> 00:19:44,790
And so a, this others go right to
the meat of it and no, you know, no,
356
00:19:45,179 --> 00:19:50,669
it helps solidify and you retain the
information and you, you build the
357
00:19:50,669 --> 00:19:53,550
process oriented thinking by doing this.
358
00:19:54,390 --> 00:19:56,700
Trust me, this isn't the
first time I've done this.
359
00:19:56,790 --> 00:20:00,150
The folks that always try to jump
ahead and don't do things like this.
360
00:20:00,510 --> 00:20:03,120
They never do as well as the
ones that actually do it.
361
00:20:04,020 --> 00:20:09,390
Take some time, put yourself to, to a
pad of paper and a pen and write out the
362
00:20:09,390 --> 00:20:11,250
things that would make your swing trading.
363
00:20:11,985 --> 00:20:13,875
What it is from beginning to end.
364
00:20:13,935 --> 00:20:15,195
What starts the process?
365
00:20:15,585 --> 00:20:17,955
What, what changes the process mid trade?
366
00:20:18,165 --> 00:20:19,185
What cancels the trade.
367
00:20:19,185 --> 00:20:21,105
You may have an idea that they
think the trade is going to be
368
00:20:21,105 --> 00:20:22,605
there, but something changes.
369
00:20:22,605 --> 00:20:23,865
What would change that idea?
370
00:20:24,465 --> 00:20:25,425
And you nix the trade.
371
00:20:25,425 --> 00:20:27,685
You don't want to do it anymore
and you won't execute on it.
372
00:20:27,715 --> 00:20:28,544
It kills the whole idea.
373
00:20:28,565 --> 00:20:29,685
Pro the actual trade starts.
374
00:20:30,044 --> 00:20:33,195
All those ideas have to be in the plan.
375
00:20:33,524 --> 00:20:36,465
You have to have that because if you
don't have it, you're either going to
376
00:20:36,465 --> 00:20:39,135
force the trade or you're going to skip
on something and you'll miss an option.
377
00:20:39,855 --> 00:20:42,615
So this way, when you, when
you make a decision, you always
378
00:20:42,615 --> 00:20:46,215
know why that decision's made,
you're not reacting on emotions.
379
00:20:46,215 --> 00:20:51,105
You're not reacting on a psychological
impact from either me or talking
380
00:20:51,105 --> 00:20:53,925
heads on the TV or watching other
people on Twitter or on the forums.
381
00:20:54,345 --> 00:20:58,395
You're only executing and making
decisions based on the information
382
00:20:58,395 --> 00:20:59,715
that you're receiving from price.
383
00:21:00,315 --> 00:21:03,525
And that way, you know, immediate
feedback, you have the right side
384
00:21:03,525 --> 00:21:05,535
of the marketplace, or you're
probably on the wrong side.
385
00:21:05,835 --> 00:21:06,195
And then.
386
00:21:07,545 --> 00:21:10,995
You be more fluid in your trading you'll
know exactly what it is you're supposed to
387
00:21:10,995 --> 00:21:12,825
be doing and why you should be doing it.
388
00:21:13,125 --> 00:21:15,645
And if you get stopped out, you're not
going to wonder why you got stopped out.
389
00:21:15,645 --> 00:21:17,115
You didn't know exactly the
reason why he got stopped out.
390
00:21:17,115 --> 00:21:20,535
And if there's a new opportunity
based on that occurrence, you'll
391
00:21:20,535 --> 00:21:23,115
know that as well, or you'll know
how to move to the sidelines.
392
00:21:23,745 --> 00:21:27,615
So I'm going to wish you well in
your homework, remind you that you
393
00:21:27,615 --> 00:21:29,145
have to have it done by Wednesday.
394
00:21:29,565 --> 00:21:31,635
I know it's a rather daunting
task for some of you.
395
00:21:31,635 --> 00:21:32,535
I know, but.
396
00:21:33,930 --> 00:21:37,800
Certainly try to have it done before
Friday 8:00 PM, because I don't
397
00:21:37,800 --> 00:21:39,630
want you to see the less than three.
398
00:21:39,630 --> 00:21:44,430
And if you do not get it done
before Friday, take the time
399
00:21:44,430 --> 00:21:45,990
to do this exercise, please.
400
00:21:45,990 --> 00:21:49,890
I'm asking you as your
mentor, humor me, please.
401
00:21:50,070 --> 00:21:51,480
It's it's for your benefit.
402
00:21:51,480 --> 00:21:57,690
It's for your enrichment through this
study, do the mock-up right now, from what
403
00:21:57,690 --> 00:22:01,410
you understand about the ICT concepts,
what would you would be looking for?
404
00:22:01,410 --> 00:22:02,040
How you frame.
405
00:22:03,420 --> 00:22:08,160
And then if it takes you getting to
Sunday, then watch less than three.
406
00:22:08,370 --> 00:22:12,330
The please don't do less than
three until you do this exercise.
407
00:22:12,750 --> 00:22:13,980
I promise you, you will.
408
00:22:14,430 --> 00:22:16,110
You'll jump leaps and bounds ahead.
409
00:22:16,410 --> 00:22:19,890
And your understanding if you
do it until next week, I wish
410
00:22:19,890 --> 00:22:21,300
you good luck and good trading.
35950
Can't find what you're looking for?
Get subtitles in any language from opensubtitles.com, and translate them here.