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Hello traders welcome
to the next section.
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Or hope you've done the same thing as me
and taken a few days off after that heavy.
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Very heavy auction market theory bought one
you can see werewolf in you're not gonna.
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Find any of that stuff anywhere know even
in a professional from are they going to
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teach you to that level
anywhere near that level.
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Let's be honest.
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They're going to give you basic concepts
but obviously the majority of the stuff
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the have shown you.
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That comes from
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you know many years of observation
and figuring things out myself and.
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You notice the way it should be
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when you go to professional from obviously
they going to give you building blocks bar
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you know you need to
go out there are observed
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things in figure
things out for yourself.
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But obviously the
reason I do it is you know
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are done one you to.
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Do wide it it took me many years
to figure a lot of things out and do.
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Whilst I was lucky because my day job
was trading at the end of the day saw had
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trading as an income.
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In a depth of mall
care and even.
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When I was transitioning from
depth of market into training on charts
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of she to keep an income
going a continue to.
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Whilst I figured stuff out.
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I'll continue to treat the depth
of market so had an income.
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Or had
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exposure to the market all
the time which afforded me.
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Know several years to.
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Really hone.
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My understanding of
ultra market theory and
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I hope you can see is probably up there
you know not knowing and arrogant way both
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have proved it.
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By giving you.
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Good
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I think what was a
about six hours or more
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worth of.
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Stuff that you just not
gonna find out there so.
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Hopefully found that valuable
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and
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again hopefully
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like me.
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You've taken a bit of a breather I
think is important let set a when.
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Before moving on could we are gonna
now really start ramping up the pace and.
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The theory was
incredibly important.
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In a kennel stressed I enough
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and you may not
realize that right now but
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you realize it as you
develop in your career.
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And.
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Just how important aloft
the theory was because
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the main thing is
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and a short time and time again.
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You know.
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You'd be surprised.
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Even in institutions.
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I have seen I told you the failure rate
you not been caught honest failure rate's
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very high.
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And I think
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of given you some
reasons for that.
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I think another major reason is that
even people coming into institutions make
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the indicate a mistake
in the sense that.
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The they treat a lot of the stuff that
we're about to look her as an indicator and
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I'm going to talk about that.
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Now
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if I hadn't given you the
theory and I just don't walk.
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Most
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and in fact all let's be honest every
single volume profile market profile.
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And.
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Teaching
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does out there and I
mean from institutions.
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Is a mistake I think
that they make is that
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they just teach you this is market
profile this is volume profile that Archie.
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You know explain
to you held this is
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what is going on
in the marketplace.
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Because them what
happens is you stop.
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Treating profile as an
indicator a new give it.
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The credence stay deserves a new
really understand the power of it dice.
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Is way more than just.
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You know some point of control and
value area lines which will discuss.
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And I mentioned this in normal distribution
section that you know one of the dangers
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people.
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Sure fall into a trap is they
use these value area is as.
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Been a holy crow lions and
then not because if you do that.
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He might as will
have an indicator
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what's the difference right.
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Said this is why
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I give you all that
theory cause a
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want to fall into that
trap are want you to.
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When you get into the game.
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Understand it for what it is
which is that is just a rough
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idea of where.
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And obviously value is in
terms of the value areas as
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but more than the
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way to really understand
what profile is telling you
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and not fall into the trap stop.
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I see many
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institutional traders
themselves fall into where they.
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Tried to be very precise which shapes and
things which I'm gonna discuss again in the
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next section.
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So.
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Look at him on a go off
topic barrage just wanted to.
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Say this out the stop because
you've just come off the back of theory.
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I wanted to just
kind of say look.
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If you stuck with it
will dump Becker's
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is really going to.
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Help you as you
develop as a trader
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and you may not see that
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hundred percent now
but you'd certainly.
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Start to see that later on in your career
over the next few months and years and.
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Yet.
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If you do make it eventually.
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I.
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Think is going to.
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Be realized just how
important a law that theory was
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and
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but look going forward I did say
that at the star of every section.
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I'm going to pull out the instead tissue
roadmap fright so we've got a here.
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This is what I put
together and you know I
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in the introduction that.
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This is really how I saw the
top the very very top traders.
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Approaching their day in a very.
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Or I'm hesitant to say met
methodical structured because
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you see
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and I've said many times
or approach to markets.
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At least on the jaw it's not.
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A plus be you must equal see you
know go be careful about all of that stuff.
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As it just mentioned
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he
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want it to treat luck an
indicator and be to to precise.
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However
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in terms of virtually
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approaching the day
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when you're off the chart in terms
of you're planning pro operation.
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Very important to be.
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Quite structured in terms of your
approach and making sure you're.
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Approaching the
market in a very.
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Structured way off the charts
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not necessarily on the chart
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of the charm will talk
a little bit about a Siena
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it comes down to
journalists being and
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obviously recording
statistics and.
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Making sure you prep
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I guess thus the word I was looking for
your prep needs to be very structured.
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Be actual approach to markets
when you're on the charts.
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Of see that should
be very loose.
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So.
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What we've done is we've covered
so far as ultra market theory.
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Why it's about fifty percent.
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Of the section is a
huge path the section so.
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You got all the theory out the way you've
got fifty percent if not more of the way.
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What we're now going to do is we're really
gonna focus on we've obviously looked at
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volume profile.
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In depth obviously we're going to refer
back to it by terms of actually covering the
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theory.
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Thus a taking the box
and lesser taken a box so.
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Now what we can do is
was really unit start thinking.
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How can we transfer.
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A law of this.
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Into actually building
contextual levels
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looking at areas to
conduct business in.
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That's why we're
in this business.
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Right.
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Bought.
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The thing is all the stuff
you've been doing up until now.
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You know a hope you haven't
been frustrated because.
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If you've done as upset you know really
are wanna say well dump because you're
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approaching this game.
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As it business as
a professional now.
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You see what he is is.
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People will think yes now
we're getting on to trading.
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And actually we go
realizes you've been trading
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the business plan was trading.
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Understanding time
in sales of of she didn't
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actually physically
execute on it
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that was trading.
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Okay
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auction market theory.
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In my opinion.
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Is just as important and.
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Each just as much
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trading
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as what we're about to
do which is also trading.
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But it's more of a c
building strong entity so.
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He not sure to make
that important point that.
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Is not the would now
suddenly going to start trading
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you know you have been trading
believe me all this time you been doing.
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Things
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the only the people who
succeed in this business do.
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The people which is let's be
honest ninety nine percent.
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If not more.
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And
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you know this this
number of ninety percent
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don't may is actually
very thus dosa.
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Misleading the is actually very much
higher and I can show you start star.
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Show the actually the failure raising much
higher than this ninety per cent number
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you here.
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Unless be honest.
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A lot of the reason for that is because
Alvin Donald of stuff that you've been doing
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up until now so look.
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Great job
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and
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but yeah look we are going to get on
the charts the okay and we are gonna.
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Start building contextual levels
and that's what we getting into.
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Want to do is in this section is I
want to get onto to market profile.
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And.
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Now there is going to be a bit of theory
for market prefer obviously the has to be.
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Don't want to say
this market profile.
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You know boom when
this happens you do this no
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because again.
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Entry luck and indicator.
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Is important I at least
give you some basic.
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Theory of market profile
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and I'm going to see how
long this section takes and.
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You know
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00:09:06,390 --> 00:09:06,719
or a
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I said I don't really.
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Structure them
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00:09:09,810 --> 00:09:10,810
but having said that.
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Obviously have taken some
time off to make sure that.
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Warm giving you is.
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00:09:16,800 --> 00:09:17,396
a
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very well thought out and I've been
thinking a lot over the last few days
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when I took a break from Oprah
market theory how can I deliver this.
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A make sure that everyone gang.
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Literally every penny or
sent worth like times ten.
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00:09:32,069 --> 00:09:33,450
Know so you will get that.
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00:09:33,930 --> 00:09:37,530
Is not the haven't planned it is just the
adult obviously know how long it's going to
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take me to explain to think so.
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00:09:40,590 --> 00:09:42,240
Let's see how long
it takes bought
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the aim
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essentially a.
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East not in this section.
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Very much show in the.
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What I'll do is I'll either do the market
profile section as one section or are split
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our into to enlist.
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Second bear all the
second half of the spare.
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Very much
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we're going to stop
building levels for you to.
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Waiting for areas.
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A case of areas of interest and it will
be it'll be brilliant you'll enjoy it and
239
00:10:06,856 --> 00:10:09,142
you're going to see it's going
to make the law of sense so.
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00:10:09,166 --> 00:10:11,866
What will do then
is will less style and.
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00:10:12,316 --> 00:10:14,056
Will come back to this
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will come back to v wap
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00:10:16,006 --> 00:10:19,216
and a may even movie where up
into the section and there's a reason for
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00:10:19,329 --> 00:10:19,525
the.
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00:10:20,063 --> 00:10:23,476
Which will become very cool
clear but I won't mention it now but.
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Less basically finish off.
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00:10:27,317 --> 00:10:28,317
And.
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00:10:28,666 --> 00:10:32,836
These two I believe and then were
pretty much done with the context section.
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00:10:33,376 --> 00:10:36,766
And so will start with market
profile some of the fifth and next slide
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00:10:37,129 --> 00:10:38,129
and
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00:10:38,176 --> 00:10:42,046
yeah we'll take it from there and see how
he goes okay ladies and gentlemen welcome
252
00:10:42,046 --> 00:10:43,936
to the market
profile section and.
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00:10:44,236 --> 00:10:48,766
Surreal no I did like
a ten minute intro
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00:10:48,766 --> 00:10:49,066
into air lock I always
do to get started bar.
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00:10:49,576 --> 00:10:50,236
And
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00:10:50,446 --> 00:10:54,016
you know I hope you can see the benefit
in the artist want to encourage those that.
257
00:10:54,738 --> 00:10:55,738
Do.
258
00:10:55,996 --> 00:10:58,666
You know stock with the
theory that you know well done
259
00:10:58,936 --> 00:11:01,695
you know you've you're
doing it the right way and.
260
00:11:02,596 --> 00:11:05,716
You just increasing your chances you
know if she does know guarantee that.
261
00:11:06,526 --> 00:11:10,096
This is something that you will turn into
a career hopefully you do fingers crossed
262
00:11:10,096 --> 00:11:12,646
by a certainly going to
increase your chances if you're.
263
00:11:13,456 --> 00:11:16,246
Absorbing all the theory and
so really it's just give you a
264
00:11:16,383 --> 00:11:17,836
of encouragement you know that.
265
00:11:18,196 --> 00:11:21,706
Keep going and you're doing the
right things and obviously well done so.
266
00:11:24,166 --> 00:11:26,058
It's a bit embarrassing
to say but obviously
267
00:11:26,356 --> 00:11:28,756
much a lot of you probably
older than me I mean
268
00:11:29,206 --> 00:11:29,716
and.
269
00:11:30,046 --> 00:11:33,046
On pretty old myself but a lot
of you will be older than me.
270
00:11:33,436 --> 00:11:35,266
So I feel a bit
embarrassed to say.
271
00:11:35,836 --> 00:11:38,806
You know well dollar etc
such a bot the reality is I am.
272
00:11:39,136 --> 00:11:39,706
He knows what you
273
00:11:39,916 --> 00:11:41,626
pay me for to be your teacher
274
00:11:42,046 --> 00:11:42,586
and
275
00:11:42,978 --> 00:11:44,298
and obviously
when it comes to him
276
00:11:44,386 --> 00:11:45,556
everything else in life.
277
00:11:45,886 --> 00:11:48,286
On property useless but when
it comes to trading obviously.
278
00:11:48,706 --> 00:11:52,546
Probably do have more experienced than
most people so it's important that I give
279
00:11:52,546 --> 00:11:53,956
words of encouragement so.
280
00:11:54,376 --> 00:11:56,057
You know hope it on
fuel our country in the
281
00:11:56,177 --> 00:11:57,885
a child of know
I'm just trying to.
282
00:11:58,366 --> 00:12:01,606
Genuinely give you some
encouragement to just keep.
283
00:12:02,476 --> 00:12:06,946
Going on without skipping things and you
know just say well done for sticking with.
284
00:12:07,786 --> 00:12:10,212
All the theory etc and.
285
00:12:11,716 --> 00:12:15,076
What we're going to do is we all gonna
have a little bit of market profile theory
286
00:12:15,106 --> 00:12:18,586
again I know US I said that the
theory was pretty much over both.
287
00:12:19,066 --> 00:12:22,755
Like I said is important you know if I just
start showing new market profile would
288
00:12:22,755 --> 00:12:23,755
just crack on.
289
00:12:24,256 --> 00:12:26,896
Something really gonna make
sense to you is it let's be honest
290
00:12:27,166 --> 00:12:28,166
you can see here.
291
00:12:28,726 --> 00:12:30,076
Of got volume profile.
292
00:12:30,736 --> 00:12:31,246
And
293
00:12:31,542 --> 00:12:35,026
we were used to seeing in the last section
and then I've got Mark and privacy can see
294
00:12:35,026 --> 00:12:36,526
the very similar but.
295
00:12:36,916 --> 00:12:37,916
Why are they similar.
296
00:12:38,356 --> 00:12:40,636
We shall these a's
and b's him season.
297
00:12:41,056 --> 00:12:42,643
What is all the stuff going on
298
00:12:42,886 --> 00:12:43,366
fright
299
00:12:43,606 --> 00:12:44,746
supported you know that.
300
00:12:45,136 --> 00:12:46,756
I mean in theory I could just.
301
00:12:47,116 --> 00:12:49,966
Think while you know what they've
had enough theory less just crack on.
302
00:12:50,535 --> 00:12:52,516
He snuggled into any
faith have is important.
303
00:12:53,326 --> 00:12:54,436
And I explain to
304
00:12:54,571 --> 00:12:55,571
you.
305
00:12:56,176 --> 00:12:57,176
Exactly what this is
306
00:12:57,316 --> 00:12:58,605
why it look similar
307
00:12:58,726 --> 00:12:59,926
but it isn't the same and.
308
00:13:00,376 --> 00:13:00,976
Why.
309
00:13:01,366 --> 00:13:03,616
Would I not why am
I not just using this.
310
00:13:04,126 --> 00:13:07,186
And continued warm even looking
at market provide if they're so similar.
311
00:13:07,576 --> 00:13:10,726
So you not gonna tell you some of
that stuff and thus really the aim of.
312
00:13:11,326 --> 00:13:14,205
The first half of this and like
I said I'm not sure if it will.
313
00:13:14,896 --> 00:13:18,466
Be altogether are mais player our
into to past but let's see how we get on.
314
00:13:18,856 --> 00:13:21,226
So what I'm going to do
on this slide any way is
315
00:13:21,706 --> 00:13:22,996
and I'm not gonna
316
00:13:23,146 --> 00:13:24,886
just literally get
straight into it
317
00:13:25,156 --> 00:13:28,066
I want to give you a feel for
what to expect in this section.
318
00:13:29,178 --> 00:13:29,626
So.
319
00:13:30,106 --> 00:13:31,216
In this section
320
00:13:31,696 --> 00:13:32,696
and.
321
00:13:33,406 --> 00:13:34,636
Essentially.
322
00:13:35,566 --> 00:13:37,396
What we're going
to go through first
323
00:13:37,666 --> 00:13:39,196
and what do is I'll go through
324
00:13:39,496 --> 00:13:39,941
this
325
00:13:40,066 --> 00:13:40,696
top half
326
00:13:40,816 --> 00:13:42,076
in this actual section
327
00:13:42,346 --> 00:13:46,546
the rest of it all obviously go through of
you've made him very basic slides her will
328
00:13:46,546 --> 00:13:47,546
cover.
329
00:13:48,136 --> 00:13:49,426
Everything from here.
330
00:13:49,816 --> 00:13:53,506
Downwards we're gonna have separate
slides for bod shown a cover this beer.
331
00:13:53,866 --> 00:13:55,636
On this actual slide so.
332
00:13:57,556 --> 00:13:57,946
Bully
333
00:13:58,126 --> 00:13:59,126
easy's.
334
00:13:59,626 --> 00:14:02,026
When you enter a
professional training from.
335
00:14:02,656 --> 00:14:06,076
A mentioned this to you
I can't remember where
336
00:14:06,106 --> 00:14:06,736
by in one of the
auction market theories.
337
00:14:07,126 --> 00:14:09,045
I said you know
this and books on
338
00:14:09,256 --> 00:14:10,276
a hope I did any way.
339
00:14:10,696 --> 00:14:11,696
That.
340
00:14:11,926 --> 00:14:13,696
Are considered
compulsory reading.
341
00:14:14,206 --> 00:14:15,436
In professional.
342
00:14:15,766 --> 00:14:16,816
Firms and.
343
00:14:17,447 --> 00:14:21,698
One of those is market wizard so I
mentioned that to you and I said you know I
344
00:14:21,698 --> 00:14:24,016
obviously worked with
someone he was in this book and.
345
00:14:24,316 --> 00:14:25,426
I gave you the story.
346
00:14:25,906 --> 00:14:27,646
About the fifty fifty.
347
00:14:27,946 --> 00:14:28,666
Price
348
00:14:28,935 --> 00:14:30,736
and individual
price obviously the
349
00:14:31,036 --> 00:14:32,174
probabilities of fifty
350
00:14:32,324 --> 00:14:34,636
fifty of up at now moves
and I spoke about that.
351
00:14:35,206 --> 00:14:36,206
So.
352
00:14:36,436 --> 00:14:38,296
I'm only me mentioning
it here because
353
00:14:38,536 --> 00:14:40,305
there is a couple of
books the ongoing to.
354
00:14:41,266 --> 00:14:43,816
I dunno if recommend
is the right word but.
355
00:14:44,626 --> 00:14:46,816
At least suggest we
have a brief look at.
356
00:14:47,416 --> 00:14:50,926
When it comes to market profile so I thought
you know what what and just cover of the
357
00:14:50,926 --> 00:14:51,926
books here.
358
00:14:52,066 --> 00:14:53,066
So.
359
00:14:53,206 --> 00:14:55,366
The main books and
there are a couple of others
360
00:14:55,756 --> 00:14:56,756
and.
361
00:14:57,136 --> 00:14:59,296
But the problem with
some of the books is there.
362
00:15:00,888 --> 00:15:01,888
Donna.
363
00:15:01,966 --> 00:15:02,566
Sound.
364
00:15:02,986 --> 00:15:04,007
Rude but they are a
365
00:15:04,186 --> 00:15:07,876
wishy washy up Jonas of even
market wizards to some extent.
366
00:15:08,536 --> 00:15:10,306
Did I really learned
anything from it.
367
00:15:10,906 --> 00:15:11,326
Know
368
00:15:11,536 --> 00:15:13,186
you know I'm a very honest gaia.
369
00:15:13,846 --> 00:15:15,766
I'd be lying if I
told you I learned.
370
00:15:16,396 --> 00:15:18,046
Anything from
that book or didn't.
371
00:15:18,496 --> 00:15:20,806
He was just good
to read and kind of if.
372
00:15:21,316 --> 00:15:23,836
It was it was a good
Riga just a seawall.
373
00:15:24,466 --> 00:15:26,866
Different trade is it doing but
there was no strategy in the
374
00:15:26,986 --> 00:15:28,876
it was Mueller
interviewing them and.
375
00:15:29,356 --> 00:15:32,656
They gave they give a lot of the
cliches you know the trading cliches that.
376
00:15:33,106 --> 00:15:36,136
Under the if you watch on
Instagram you get some of those.
377
00:15:36,882 --> 00:15:39,136
Instagram posts
going up and down and.
378
00:15:39,718 --> 00:15:40,279
And
379
00:15:40,486 --> 00:15:44,806
they have like quotes on them and I know
I do quotes myself Bob hope you agree I do
380
00:15:44,806 --> 00:15:46,096
institutional coach
381
00:15:46,576 --> 00:15:49,156
but some of the quotes
let's be honest I just.
382
00:15:50,296 --> 00:15:54,106
Ridiculous you know like leave your emotions
at the door and the last often does I
383
00:15:54,110 --> 00:15:57,286
really hope you know is not someone
really hope you become their trailer.
384
00:15:57,856 --> 00:16:01,126
And thus kind of war a law of
the books they recommend to you
385
00:16:01,396 --> 00:16:02,476
why found were.
386
00:16:03,046 --> 00:16:04,306
A market wizards
387
00:16:04,456 --> 00:16:05,596
if there was one
388
00:16:05,896 --> 00:16:07,126
of all of the.
389
00:16:07,726 --> 00:16:11,026
Soul of wishy washy perks
that they are recommend.
390
00:16:11,506 --> 00:16:14,506
As a you to read market was
as if you want is a decent read
391
00:16:14,926 --> 00:16:17,566
and by if you don't honestly
going to make no difference so
392
00:16:17,746 --> 00:16:20,235
of was mentioned that you
know he is one of the books that.
393
00:16:21,286 --> 00:16:22,126
Essentially
394
00:16:22,276 --> 00:16:25,605
if you're going to Stein oppression from
they'll make it compulsory reading to say go
395
00:16:25,606 --> 00:16:26,606
read market wizard.
396
00:16:27,166 --> 00:16:29,746
But I think more interesting
is these two books.
397
00:16:30,106 --> 00:16:31,906
Now that she Donna Instagram
398
00:16:32,048 --> 00:16:33,466
I g t v.
399
00:16:34,156 --> 00:16:37,846
Video is only about eight nine minutes
long where I talk about these books
400
00:16:38,236 --> 00:16:39,256
and the pitfalls
401
00:16:39,376 --> 00:16:40,426
and of the advantages.
402
00:16:40,786 --> 00:16:41,786
So if you get chance.
403
00:16:42,076 --> 00:16:44,626
Do that go to my g
t v if you don't use.
404
00:16:45,166 --> 00:16:45,373
Of
405
00:16:45,585 --> 00:16:46,611
t v let me know
406
00:16:46,726 --> 00:16:47,726
might be able to.
407
00:16:49,486 --> 00:16:53,222
If enough people or if anyone
contact me I might just upload it to the.
408
00:16:54,856 --> 00:16:58,162
Pro course one of the sections
as a download if you want it.
409
00:16:58,728 --> 00:16:59,728
Might do that.
410
00:16:59,866 --> 00:17:04,096
In fact the probably or might do that yeah
let's see if anyone contact me if they do
411
00:17:04,096 --> 00:17:06,436
then I'll do that otherwise
just go to my g t v it's.
412
00:17:06,796 --> 00:17:09,045
I think it's called institutional
books or call remember.
413
00:17:09,676 --> 00:17:12,256
By talk about these
books and basically.
414
00:17:12,618 --> 00:17:13,786
These are.
415
00:17:15,046 --> 00:17:16,046
The Bible's
416
00:17:16,156 --> 00:17:17,596
on market profile
417
00:17:17,956 --> 00:17:18,956
and.
418
00:17:19,725 --> 00:17:20,725
The very very good.
419
00:17:20,986 --> 00:17:21,986
As a starter.
420
00:17:23,058 --> 00:17:28,426
And I talk about this in the section the
problem is with them is they're incredibly
421
00:17:28,426 --> 00:17:29,116
dogmatic
422
00:17:29,236 --> 00:17:30,236
okay.
423
00:17:30,736 --> 00:17:31,736
I.
424
00:17:32,566 --> 00:17:36,976
So I'm gonna talk about this
coy a law in a reality check
425
00:17:37,156 --> 00:17:38,716
video the are want to do.
426
00:17:39,286 --> 00:17:42,556
His about theory
vs reality okay.
427
00:17:43,696 --> 00:17:44,696
I.
428
00:17:46,006 --> 00:17:46,756
So
429
00:17:46,966 --> 00:17:49,456
the best way to
explain this is that so
430
00:17:49,696 --> 00:17:52,257
you're going to read these books
and I do recommend reading them.
431
00:17:53,026 --> 00:17:56,566
What have you do don't buy them I think
some of these are quite expensive royal.
432
00:17:57,616 --> 00:17:59,716
Basically of probably
shouldn't say this.
433
00:18:00,106 --> 00:18:01,106
Out loud but.
434
00:18:01,456 --> 00:18:04,816
I have noticed as pdf for
all of these three online.
435
00:18:05,318 --> 00:18:07,546
More as will read them
if you can get the pds
436
00:18:07,816 --> 00:18:08,816
if you can't.
437
00:18:08,926 --> 00:18:12,886
Let me know or see for can find
it but I'm not promising anything.
438
00:18:13,666 --> 00:18:15,766
But if you can highly recommend
439
00:18:16,066 --> 00:18:17,066
return.
440
00:18:17,206 --> 00:18:19,006
But take them
with a pinch of salt.
441
00:18:20,176 --> 00:18:23,476
But the reason I want you to read them
is and I'm going to do really choke on this
442
00:18:23,476 --> 00:18:24,616
later as because.
443
00:18:25,516 --> 00:18:25,887
So what
444
00:18:25,995 --> 00:18:26,995
is is.
445
00:18:27,226 --> 00:18:28,275
Even in
446
00:18:28,426 --> 00:18:31,095
institutional firms all
the stuff they teach you.
447
00:18:31,696 --> 00:18:32,696
Write.
448
00:18:32,776 --> 00:18:36,106
Dig in gonna teach you everything
from a theoretical perspective.
449
00:18:36,946 --> 00:18:37,946
And.
450
00:18:38,356 --> 00:18:42,226
I don't think that that's necessarily a
bad bad thing because what happens is
451
00:18:42,706 --> 00:18:45,376
and this was certainly my
experience of my journey and I think it
452
00:18:45,676 --> 00:18:46,816
really helped me.
453
00:18:47,297 --> 00:18:48,297
Is that
454
00:18:48,346 --> 00:18:50,746
to get you from
theory to reality.
455
00:18:51,646 --> 00:18:53,566
It requires observation right
456
00:18:53,806 --> 00:18:55,966
there is only obviously
I can give you.
457
00:18:57,376 --> 00:18:58,696
A lot of.
458
00:18:59,656 --> 00:19:00,856
Theory and mnuchin.
459
00:19:01,576 --> 00:19:04,966
Essentially lesbian at what am I
doing here on giving you all the theory.
460
00:19:05,326 --> 00:19:06,326
He getting in a
461
00:19:06,466 --> 00:19:07,035
and
462
00:19:07,246 --> 00:19:09,436
in a professional
environment thus PR road.
463
00:19:10,156 --> 00:19:13,126
So giving it all the theory you're
getting in a professional environment
464
00:19:13,276 --> 00:19:14,276
and then what am I doing.
465
00:19:14,506 --> 00:19:15,506
Giving you like.
466
00:19:16,576 --> 00:19:18,226
A thousand percent extra.
467
00:19:18,976 --> 00:19:19,976
In terms of.
468
00:19:20,626 --> 00:19:20,866
The
469
00:19:21,076 --> 00:19:22,276
the things I observed.
470
00:19:23,026 --> 00:19:24,026
Though.
471
00:19:24,166 --> 00:19:27,016
What would highly recommend
and again I'm going to to buzz layoffs.
472
00:19:27,376 --> 00:19:29,776
Please whatever you do
don't take my word for it.
473
00:19:30,196 --> 00:19:31,453
You know and I think this was.
474
00:19:32,176 --> 00:19:33,176
May be.
475
00:19:33,466 --> 00:19:33,856
One
476
00:19:34,032 --> 00:19:37,186
I say there's a few reasons but
maybe one of the huge reasons why
477
00:19:37,486 --> 00:19:40,186
I look back of a career I
think why must still in trading.
478
00:19:40,726 --> 00:19:42,106
In of sixteen years
479
00:19:42,286 --> 00:19:44,716
as of now you may be
watching this and it may be.
480
00:19:45,166 --> 00:19:49,126
Twenty years twenty five years other know
exactly but as of me obviously making this.
481
00:19:49,666 --> 00:19:50,666
Video.
482
00:19:51,136 --> 00:19:52,486
And I think one
of the reasons is.
483
00:19:53,086 --> 00:19:54,086
Why never
484
00:19:54,226 --> 00:19:55,816
ever took any one word.
485
00:19:56,296 --> 00:19:57,296
For anything the.
486
00:19:57,586 --> 00:20:01,426
Right now I know some of you
back test some technical staff and.
487
00:20:01,906 --> 00:20:02,906
You realize.
488
00:20:03,526 --> 00:20:04,606
If you don't mind me saying
489
00:20:04,636 --> 00:20:06,886
is garbage when you
bought is good you do that.
490
00:20:07,396 --> 00:20:11,086
But now you realize of
showed you that technicals
491
00:20:11,087 --> 00:20:12,532
obviously don't work
you apply the same.
492
00:20:12,556 --> 00:20:13,906
Approach and vigor
493
00:20:14,356 --> 00:20:15,766
to everything I'm telling you.
494
00:20:16,366 --> 00:20:17,366
And the funny thing.
495
00:20:17,776 --> 00:20:18,826
I show you.
496
00:20:19,486 --> 00:20:22,286
And you may think I'm getting off
topic here and I'm not be so relevant
497
00:20:22,366 --> 00:20:23,506
to reading these books.
498
00:20:24,616 --> 00:20:26,266
In on one of the only people
499
00:20:26,423 --> 00:20:27,436
I know
500
00:20:27,736 --> 00:20:31,846
in the industry that
shows I show audited
501
00:20:31,846 --> 00:20:32,206
returns obviously you
know I'm happy to show.
502
00:20:32,656 --> 00:20:34,426
My effects books
and things like that.
503
00:20:35,446 --> 00:20:36,446
But even then.
504
00:20:37,127 --> 00:20:37,665
Doesn't matter.
505
00:20:38,026 --> 00:20:39,067
Don't take my word for it.
506
00:20:39,436 --> 00:20:42,766
Don't do due diligence do triple
due diligence I'll tell you why.
507
00:20:43,696 --> 00:20:44,055
Because.
508
00:20:44,430 --> 00:20:46,186
I know is these that.
509
00:20:47,356 --> 00:20:48,796
I got talk pry
510
00:20:48,946 --> 00:20:50,416
theory for example.
511
00:20:51,076 --> 00:20:53,476
And yeah I wish there
was someone like.
512
00:20:53,986 --> 00:20:58,006
Me who are taught me
and said you know these
513
00:20:58,096 --> 00:20:58,576
and it would have caught
my journey damn big.
514
00:20:59,026 --> 00:21:03,016
Time as I said before I was fortunate at
the depth of markets keep me going for a few
515
00:21:03,016 --> 00:21:03,466
years.
516
00:21:03,796 --> 00:21:05,116
Whilst I figured things out.
517
00:21:05,776 --> 00:21:08,386
You know and the reason is
that journey was several years.
518
00:21:09,556 --> 00:21:13,606
Before I became incredibly proficient
on the charts themselves obviously.
519
00:21:14,206 --> 00:21:17,326
Always maintaining my depth
of market trading to obviously.
520
00:21:18,406 --> 00:21:21,136
Keep me going from an income
perspective whilst I figured things out
521
00:21:21,406 --> 00:21:24,166
now because I've told you laugh
of thing share your journey may.
522
00:21:24,526 --> 00:21:25,216
Hopefully
523
00:21:25,336 --> 00:21:28,006
be cut from like three four
years down to one one year.
524
00:21:29,086 --> 00:21:30,436
But that's only going to happen.
525
00:21:30,976 --> 00:21:32,506
If you also do.
526
00:21:33,346 --> 00:21:34,346
This thing where.
527
00:21:34,966 --> 00:21:38,866
Should the way I did a even though it
took me several years to do is obviously.
528
00:21:39,196 --> 00:21:40,486
I would read things like.
529
00:21:40,966 --> 00:21:43,006
So this is getting back to
the point about the book.
530
00:21:43,366 --> 00:21:45,496
I read mind over market right
531
00:21:45,796 --> 00:21:46,796
and.
532
00:21:46,847 --> 00:21:48,706
I read markets
in profile I read.
533
00:21:49,666 --> 00:21:52,186
Steidl Maya honor
markets as well.
534
00:21:53,236 --> 00:21:56,266
And I learned all of a and I
was looking at it and honestly
535
00:21:56,416 --> 00:21:58,516
at the end of it ninety
percent of your thumped it
536
00:21:58,996 --> 00:22:00,436
but the point was.
537
00:22:01,216 --> 00:22:03,076
You know when you're
at this theory state.
538
00:22:03,586 --> 00:22:04,846
I don't it why.
539
00:22:05,596 --> 00:22:06,015
Because
540
00:22:06,196 --> 00:22:09,646
I observed in the marketplace
to see what I mean I know over.
541
00:22:10,156 --> 00:22:12,436
Dumped it because
my boss said to me.
542
00:22:13,246 --> 00:22:14,896
Oh envy to know walk.
543
00:22:16,127 --> 00:22:16,786
And
544
00:22:16,906 --> 00:22:19,756
doulton says this in
his book for example.
545
00:22:21,016 --> 00:22:22,186
Access matters
546
00:22:22,366 --> 00:22:24,045
now I will explain
access to you.
547
00:22:24,496 --> 00:22:28,036
Right is essentially where the markets
movie like this in the profile and then you
548
00:22:28,036 --> 00:22:29,806
get this little pop
and it comes back.
549
00:22:31,486 --> 00:22:34,786
Basically luckily it will tell but
obviously we will come back to the spot.
550
00:22:35,836 --> 00:22:39,856
The point is I never took my bosses
word for it just because he told me.
551
00:22:40,426 --> 00:22:40,905
The all
552
00:22:41,176 --> 00:22:42,856
excess is useless don't use it
553
00:22:43,036 --> 00:22:43,726
so would he
554
00:22:43,846 --> 00:22:44,846
does matter.
555
00:22:45,796 --> 00:22:48,076
Observed a in the marketplace
556
00:22:48,226 --> 00:22:49,226
on my own.
557
00:22:49,786 --> 00:22:50,806
Subtest the thing.
558
00:22:51,886 --> 00:22:55,906
In an ideal world I'm going to be honest
with you what I would do if I was you.
559
00:22:56,956 --> 00:22:57,956
Is a good.
560
00:23:00,046 --> 00:23:03,496
Least read you know skim read
through a look at some of the basics
561
00:23:03,676 --> 00:23:06,856
may be off the not now
but after I've shown you my.
562
00:23:07,216 --> 00:23:08,296
Take on profile.
563
00:23:09,166 --> 00:23:10,636
And guys just just do or.
564
00:23:11,416 --> 00:23:13,846
So of process of
trial and error yourself
565
00:23:14,176 --> 00:23:15,736
and observe these things.
566
00:23:16,636 --> 00:23:18,196
And I hope you don't
mind me saying the
567
00:23:18,316 --> 00:23:19,316
and
568
00:23:19,396 --> 00:23:23,086
and maybe this will become the reality
check here because I release of talked about
569
00:23:23,086 --> 00:23:24,086
it but.
570
00:23:24,496 --> 00:23:25,496
I.
571
00:23:26,146 --> 00:23:27,706
The reality check is that
572
00:23:27,856 --> 00:23:30,676
yeah you've got to go
through that process of.
573
00:23:31,276 --> 00:23:34,546
Figuring out what works
and what doesn't for yourself.
574
00:23:35,086 --> 00:23:35,416
Don't.
575
00:23:35,776 --> 00:23:38,416
Ever take my word
for it is my point.
576
00:23:39,076 --> 00:23:41,206
Honestly is going to propel you
577
00:23:41,596 --> 00:23:43,756
to different levels of trading.
578
00:23:44,596 --> 00:23:46,306
If that's how you
approach things
579
00:23:46,546 --> 00:23:47,896
I mean at the end of the Dave.
580
00:23:49,216 --> 00:23:50,896
There is no you know.
581
00:23:51,226 --> 00:23:55,336
Saw a magic indicate route a doesn't exist
and if you think he does you you're gonna
582
00:23:55,336 --> 00:23:57,106
be searching for receive life
583
00:23:57,556 --> 00:23:58,672
and you know going to find it
584
00:23:58,696 --> 00:24:00,316
and you're you to
end up coming back to.
585
00:24:01,066 --> 00:24:03,316
Doing this approach
which I say which is look.
586
00:24:04,276 --> 00:24:06,676
Absorb all the theory
take all the things.
587
00:24:07,006 --> 00:24:09,676
From Burke take all the
stuff on giving you as well.
588
00:24:10,278 --> 00:24:13,696
And even though I back up
with real results and whatever
589
00:24:13,906 --> 00:24:14,566
show the point
590
00:24:14,686 --> 00:24:15,686
the point is.
591
00:24:16,216 --> 00:24:19,666
We need to go out there observe
it and figure it out for yourself that.
592
00:24:20,296 --> 00:24:24,076
Does this actually work and but is going
to make you an amazing trader because
593
00:24:24,286 --> 00:24:27,286
whilst you're doing that process
you gonna figure out other things.
594
00:24:27,886 --> 00:24:30,766
And you going to see
stuffed the I have to
595
00:24:30,766 --> 00:24:31,126
call you as well when
you're going to be like.
596
00:24:31,486 --> 00:24:32,596
Actually gonna walk.
597
00:24:33,226 --> 00:24:35,416
More mv said his hundred
percent right because.
598
00:24:35,980 --> 00:24:36,490
Saw sorry
599
00:24:36,646 --> 00:24:37,646
a thousand times
600
00:24:37,996 --> 00:24:39,676
and yet it makes sense all.
601
00:24:40,546 --> 00:24:43,966
So corner like backtesting but
his noise observing in real time.
602
00:24:44,866 --> 00:24:46,156
Or you're going to be thinking.
603
00:24:46,636 --> 00:24:49,936
Actually nothing that and be told me doesn't
make sense cause I'm not sure seeing it
604
00:24:49,936 --> 00:24:50,506
for myself.
605
00:24:50,956 --> 00:24:51,346
Don't.
606
00:24:51,886 --> 00:24:55,148
And I know all of you won't be like this
but obviously you understand ago say this
607
00:24:55,156 --> 00:24:56,656
cause a lot of people will take.
608
00:24:57,076 --> 00:24:59,776
What I tell them about
profile of what I'm doing.
609
00:25:00,646 --> 00:25:01,396
As gospel
610
00:25:01,516 --> 00:25:02,516
and they're just gonna.
611
00:25:02,626 --> 00:25:02,896
Use
612
00:25:03,148 --> 00:25:04,148
and is not.
613
00:25:05,388 --> 00:25:07,906
Really going to maximize their.
614
00:25:08,596 --> 00:25:09,256
Potential
615
00:25:09,406 --> 00:25:10,426
as a traitor you know.
616
00:25:10,786 --> 00:25:11,956
Thats why I say
617
00:25:12,196 --> 00:25:14,716
I hope you don't mind me saying
taking a few minutes to do that.
618
00:25:15,376 --> 00:25:18,526
He is really think
about this process.
619
00:25:19,066 --> 00:25:21,616
Of absorbing
theory but testing it
620
00:25:21,736 --> 00:25:22,905
for yourself you know.
621
00:25:24,046 --> 00:25:25,046
So read the books
622
00:25:25,126 --> 00:25:26,126
if you can.
623
00:25:26,716 --> 00:25:27,716
Take your time.
624
00:25:27,886 --> 00:25:31,166
Read them on the way to work read them on
the train read them here read them there.
625
00:25:31,639 --> 00:25:32,176
I
626
00:25:32,356 --> 00:25:33,616
highly recommend.
627
00:25:34,126 --> 00:25:35,126
That if you can.
628
00:25:36,586 --> 00:25:36,855
You know
629
00:25:37,066 --> 00:25:40,006
you don't necessarily to go through
them religiously and whatever.
630
00:25:40,876 --> 00:25:44,656
Necessarily need to take notes even but
just read them and get reduced for walk
631
00:25:45,129 --> 00:25:46,636
and alternate steidl mile.
632
00:25:46,996 --> 00:25:47,716
Have to say
633
00:25:47,866 --> 00:25:49,486
about market profile because.
634
00:25:50,416 --> 00:25:51,416
He is interesting
635
00:25:51,466 --> 00:25:54,826
and you will actually bring home a
lot of the stuff up and telling you about
636
00:25:55,066 --> 00:25:56,176
how dogmatic
637
00:25:56,656 --> 00:25:59,266
and indicate a light
even this stuff can be.
638
00:25:59,836 --> 00:26:00,836
And.
639
00:26:01,396 --> 00:26:04,576
And then you actually look back and
think yet you know what I can see that
640
00:26:05,026 --> 00:26:07,396
and then start to observe
a a new see for yourself.
641
00:26:07,966 --> 00:26:08,966
Just how.
642
00:26:09,196 --> 00:26:10,196
Powerful.
643
00:26:12,136 --> 00:26:15,074
Approaches to market can
be when you move away from.
644
00:26:15,466 --> 00:26:17,356
Tree in things as very rigid
645
00:26:17,746 --> 00:26:18,746
and.
646
00:26:18,886 --> 00:26:19,886
But again.
647
00:26:20,236 --> 00:26:21,526
A guest the last he now says.
648
00:26:21,856 --> 00:26:25,846
You need to go on
that journey yourself I
649
00:26:25,846 --> 00:26:27,112
can't do that journey
for you obviously I can.
650
00:26:27,136 --> 00:26:29,774
Tell you about in a commune
yoga as I've been doing.
651
00:26:30,316 --> 00:26:33,616
For like six hours and even the whole
foundation called by the end of the day.
652
00:26:34,696 --> 00:26:36,256
Good at do it
yourself as well right.
653
00:26:36,706 --> 00:26:40,396
That's why I say is going to take you nine
months twelve months cause you go go on
654
00:26:40,396 --> 00:26:41,396
this journey so.
655
00:26:41,859 --> 00:26:42,340
I.
656
00:26:42,652 --> 00:26:45,826
Hope you in mind me saying that because
I know what it is a lot of people would you
657
00:26:45,826 --> 00:26:47,386
say that couple
of books forget it.
658
00:26:47,896 --> 00:26:48,226
Know
659
00:26:48,496 --> 00:26:50,256
you know if you get a
chance go through them.
660
00:26:50,416 --> 00:26:52,449
Look at what theories
out there and.
661
00:26:53,026 --> 00:26:56,416
Go through this journey of
observation of really looking.
662
00:26:56,806 --> 00:26:59,446
At what these books are
saying and will arm same
663
00:26:59,836 --> 00:27:01,245
and observe served
them on a charm
664
00:27:01,486 --> 00:27:03,856
saw do this I'll probably won't
do this reality check again
665
00:27:03,976 --> 00:27:06,375
at the very end of the
corpse just to remind you by.
666
00:27:06,736 --> 00:27:09,526
A guess it just cropped up because
I'd mentioned the book spot term.
667
00:27:10,096 --> 00:27:11,296
Anyway you get the point.
668
00:27:12,106 --> 00:27:15,436
Within going to move on or in the
next slides have covered the books.
669
00:27:16,636 --> 00:27:17,356
Were going to go
670
00:27:17,626 --> 00:27:20,298
on to looking at
regular trading hours vs
671
00:27:20,416 --> 00:27:22,036
electronic trading
hours which is.
672
00:27:22,936 --> 00:27:26,386
Going to make sense as soon as
we go on to that just essentially.
673
00:27:27,016 --> 00:27:28,016
And.
674
00:27:28,336 --> 00:27:31,876
In the futures market and actually
a in the professional environment.
675
00:27:32,476 --> 00:27:32,896
These.
676
00:27:33,256 --> 00:27:35,926
Trading hours a very
much split out very different
677
00:27:36,046 --> 00:27:38,086
to what you used to
senior foreign exchange.
678
00:27:38,446 --> 00:27:39,954
In terms of Asia and.
679
00:27:40,846 --> 00:27:43,156
Obviously coming
into Europe and then.
680
00:27:43,785 --> 00:27:45,916
UK and then obviously america
681
00:27:46,396 --> 00:27:46,936
and
682
00:27:47,086 --> 00:27:48,086
and so on and so forth.
683
00:27:48,736 --> 00:27:49,876
Is this is different
684
00:27:49,996 --> 00:27:50,326
okay.
685
00:27:50,716 --> 00:27:54,886
He's not very different but it a slight does
a slightly different someone explain how
686
00:27:54,886 --> 00:27:57,106
that works because it
does have an impact on.
687
00:27:58,066 --> 00:28:00,406
Profile and then we're
going to get into really.
688
00:28:00,826 --> 00:28:02,416
Pro fall in terms of
689
00:28:02,656 --> 00:28:05,284
I'll try not to take too long
but obviously go explain to
690
00:28:05,484 --> 00:28:06,586
war is fully.
691
00:28:07,186 --> 00:28:08,866
Sure a market
perfect while using it.
692
00:28:09,466 --> 00:28:12,376
Was appointed control which
was already spoken about.
693
00:28:13,636 --> 00:28:15,256
When it came to volume profile.
694
00:28:16,066 --> 00:28:19,756
Most value area which we've discussed at
how's it different market profile to volume
695
00:28:19,756 --> 00:28:21,016
pro for balance in balance
696
00:28:21,286 --> 00:28:23,086
sheet of this stuff
we've already covered it.
697
00:28:23,416 --> 00:28:26,056
I'm just going to give it to from
a market provide perspective.
698
00:28:26,506 --> 00:28:29,776
Single prince access we haven't
talked about poor highs and lows.
699
00:28:30,076 --> 00:28:34,036
Which quite specific to market
profile but pretty useful to know about.
700
00:28:34,666 --> 00:28:37,246
Her letters versus blocks I
won't say more than that.
701
00:28:38,026 --> 00:28:38,566
Now.
702
00:28:38,866 --> 00:28:42,346
He'll make sense when
I get into it will took
703
00:28:42,346 --> 00:28:42,586
a little bit by initial
balance which is.
704
00:28:43,126 --> 00:28:43,876
The first
705
00:28:44,026 --> 00:28:46,186
x period of the day.
706
00:28:46,964 --> 00:28:49,126
Of the regular
trading hour session.
707
00:28:50,596 --> 00:28:54,406
So again we will don't worry too much if it
doesn't make sense reiner we cannot cover
708
00:28:54,406 --> 00:28:54,683
the and.
709
00:28:55,276 --> 00:28:57,196
The shape somewhat
of a brief chat about
710
00:28:57,406 --> 00:28:58,406
basically.
711
00:28:58,786 --> 00:29:00,136
The entire.
712
00:29:00,526 --> 00:29:01,066
Book.
713
00:29:01,516 --> 00:29:04,486
For books of market profile
are based on things like.
714
00:29:04,846 --> 00:29:06,736
Profile shapes
and things are than.
715
00:29:07,156 --> 00:29:07,518
You know
716
00:29:07,785 --> 00:29:08,785
I don't really
717
00:29:08,926 --> 00:29:10,066
use them but.
718
00:29:10,366 --> 00:29:11,366
That's why.
719
00:29:12,076 --> 00:29:14,326
I suggest you read the
books and have a look.
720
00:29:14,656 --> 00:29:15,656
At was.
721
00:29:16,063 --> 00:29:17,086
Of theory out there.
722
00:29:18,076 --> 00:29:20,597
And I'm just going to touch
upon a very briefly just to give it.
723
00:29:21,152 --> 00:29:22,546
A nice completion
724
00:29:22,696 --> 00:29:23,696
this whole section.
725
00:29:24,496 --> 00:29:27,286
And then we're
really gonna get into.
726
00:29:27,647 --> 00:29:30,016
Gain on the charts and
developing levels and thus the.
727
00:29:30,436 --> 00:29:31,696
Composite structure so
728
00:29:31,936 --> 00:29:33,706
my guess is this may form.
729
00:29:34,186 --> 00:29:36,046
Like this whole
section on itself.
730
00:29:36,766 --> 00:29:38,206
By the time we
finish everything.
731
00:29:38,896 --> 00:29:41,266
Before we move on
to composite structure.
732
00:29:41,716 --> 00:29:45,046
Bar who see how it goes when we
get to this stage or make a decision.
733
00:29:45,346 --> 00:29:48,676
Or at so let's get on and
crack on with market profile.
734
00:29:49,276 --> 00:29:49,876
And
735
00:29:49,996 --> 00:29:52,956
and then yeah just to remind you
don't go for read the books row right now.
736
00:29:53,900 --> 00:29:57,046
Let's do some market provost
of maybe even get you getting.
737
00:29:57,616 --> 00:30:01,246
A building contextual levels because he's
done a law of theory and I understand he
738
00:30:01,246 --> 00:30:01,546
knows
739
00:30:01,697 --> 00:30:03,106
I'd only to go and
spend another.
740
00:30:04,066 --> 00:30:07,696
Two three weeks reading books cause
it's just theory let's get you started
741
00:30:07,936 --> 00:30:09,736
building contextual levels and.
742
00:30:10,576 --> 00:30:12,466
Get you developing some.
743
00:30:12,886 --> 00:30:15,226
Institutional strategies and.
744
00:30:15,526 --> 00:30:17,326
May be simultaneously.
745
00:30:17,656 --> 00:30:20,236
You can think about
doing some of your own.
746
00:30:21,016 --> 00:30:22,016
Research.
747
00:30:23,232 --> 00:30:25,032
It always have a very
powerful as well and.
748
00:30:25,362 --> 00:30:28,403
Of she the books as well and obviously
I'm here to help you as you know I am.
749
00:30:29,113 --> 00:30:32,622
My only point is is not the unsaved
you look I don't want to show it to you sir
750
00:30:32,623 --> 00:30:33,792
Godfrey graph self no.
751
00:30:34,211 --> 00:30:34,902
No at all
752
00:30:35,022 --> 00:30:36,372
I hope you can see actually.
753
00:30:36,702 --> 00:30:38,442
I'm trying to help
you by saying look.
754
00:30:39,072 --> 00:30:41,622
Don't take my word
for everything don't just.
755
00:30:42,342 --> 00:30:43,392
Take it as gospel.
756
00:30:43,992 --> 00:30:48,162
Go on Google do research observe
things for yourself figure things out.
757
00:30:48,582 --> 00:30:49,812
Disagree with me
758
00:30:50,112 --> 00:30:51,112
you know.
759
00:30:51,372 --> 00:30:54,072
That is going to
make you an amazing.
760
00:30:54,492 --> 00:30:58,242
Potentially an amazing trader
is having that critical thinking.
761
00:30:58,809 --> 00:31:00,792
And NATO scene
of people doing it.
762
00:31:01,512 --> 00:31:04,752
Don't get me wrong I'm sure in your own
business you do do it your excellent a much
763
00:31:04,752 --> 00:31:07,632
better than iron but when it
comes to trading in particular.
764
00:31:08,112 --> 00:31:10,212
Lesbian of people
don't do it they just take.
765
00:31:10,752 --> 00:31:12,228
Whatever cost a given and
766
00:31:12,372 --> 00:31:13,062
you say yep.
767
00:31:13,392 --> 00:31:16,362
I'll take the guys word for it that's
why I do they just start doing a
768
00:31:16,542 --> 00:31:17,542
is ridiculous.
769
00:31:17,742 --> 00:31:19,812
Don't don't do
that even with me.
770
00:31:20,202 --> 00:31:24,252
As someone who's incredibly experienced
and of is a very successful training.
771
00:31:25,002 --> 00:31:28,212
Even on the tenant you don't do that is
going to make your a trained to reading.
772
00:31:28,722 --> 00:31:29,232
And.
773
00:31:29,592 --> 00:31:33,642
Do some extra curricular research figure
things out about all the things I'm telling
774
00:31:33,642 --> 00:31:34,642
you about.
775
00:31:34,812 --> 00:31:35,812
Personally.
776
00:31:35,982 --> 00:31:37,272
If August during this course.
777
00:31:37,992 --> 00:31:40,153
But this is coming back to
blueberry the reality check.
778
00:31:40,512 --> 00:31:42,462
Ought be googling
everything that.
779
00:31:43,512 --> 00:31:47,322
This guy he envies telling me and
double checking triple checking and.
780
00:31:47,712 --> 00:31:51,935
Seeing if there's any variations etc etc
because just going to make you about.
781
00:31:52,482 --> 00:31:53,592
Traitorous and is going to
782
00:31:53,832 --> 00:31:57,672
get you asking me
questions and I love it
783
00:31:57,672 --> 00:31:57,912
when people ask me
questions and say you know.
784
00:31:58,452 --> 00:31:59,892
I saw this I saw the.
785
00:32:00,462 --> 00:32:02,802
This they make sense to me
that he makes sense to me and.
786
00:32:03,192 --> 00:32:05,382
Is going to make your
questions much more rounded.
787
00:32:06,194 --> 00:32:08,592
And mean the
conversations that we have
788
00:32:09,043 --> 00:32:10,043
and.
789
00:32:10,302 --> 00:32:11,112
I'm going to be better
790
00:32:11,232 --> 00:32:13,992
right so I hope you can see i'm
trying to help you will save our.
791
00:32:14,412 --> 00:32:17,082
I'll obviously give you all my
knowledge hundred and ten percent.
792
00:32:17,892 --> 00:32:18,222
Though.
793
00:32:18,792 --> 00:32:21,012
Obviously there's going
to be stuff out there thus
794
00:32:21,162 --> 00:32:21,707
of he.
795
00:32:22,122 --> 00:32:23,952
Was the downside
there isn't any so.
796
00:32:24,492 --> 00:32:27,942
Hope you can see that for your benefit
less crackled the next section and looker.
797
00:32:29,622 --> 00:32:32,352
Some of these market provide
elements and why we're looking at my
798
00:32:32,532 --> 00:32:36,342
market prefer or I assume the next slide
okay ladies and gentlemen to on the slide I
799
00:32:36,342 --> 00:32:38,832
want to talk to about
really really important.
800
00:32:40,062 --> 00:32:40,842
Concept
801
00:32:40,992 --> 00:32:44,442
called or t h
versus e t h and do.
802
00:32:44,862 --> 00:32:48,072
You know if you ever speak
to any professional traders.
803
00:32:49,392 --> 00:32:51,972
They're going to know exactly
what you mean when you say all t
804
00:32:52,152 --> 00:32:53,172
versus etihad show.
805
00:32:53,742 --> 00:32:58,482
And additional as I'm not you written on
here about essentially all th his regular
806
00:32:58,572 --> 00:32:59,572
trading hours.
807
00:33:00,342 --> 00:33:03,012
And e t h is electronic
trading hours.
808
00:33:03,794 --> 00:33:06,492
So I'm gonna go over that
but war want to say is look.
809
00:33:07,392 --> 00:33:08,392
Going forward
810
00:33:08,562 --> 00:33:09,132
and.
811
00:33:09,580 --> 00:33:09,863
I.
812
00:33:10,332 --> 00:33:11,332
Have written it here.
813
00:33:12,132 --> 00:33:16,182
Everything we do in the process of
protection sorry from now onwards.
814
00:33:16,513 --> 00:33:18,882
Is only going to be related to.
815
00:33:19,512 --> 00:33:23,592
The s and p five hundred and cruder
those are the only two markets I trade.
816
00:33:24,674 --> 00:33:25,674
And.
817
00:33:26,352 --> 00:33:28,152
I don't necessarily wanting to
818
00:33:28,362 --> 00:33:30,462
get into a long
talk about it bar.
819
00:33:31,198 --> 00:33:32,412
And maybe you
820
00:33:32,652 --> 00:33:34,692
could do a separate
section on a bar
821
00:33:35,112 --> 00:33:35,652
and.
822
00:33:36,012 --> 00:33:39,192
Go to understand I see people
out there trading a million pairs
823
00:33:39,405 --> 00:33:40,992
is just completely ludicrous.
824
00:33:41,502 --> 00:33:45,372
As you know I worked on our institutional
trading floor even before I went into
825
00:33:45,372 --> 00:33:46,482
proprietary trading in.
826
00:33:46,962 --> 00:33:48,132
Our worked in an actual
827
00:33:48,402 --> 00:33:49,482
interbank floor.
828
00:33:50,292 --> 00:33:50,802
And
829
00:33:50,952 --> 00:33:55,512
I can assure you you know even interbank
traders they were only ever trading one or
830
00:33:55,512 --> 00:33:56,512
two pairs.
831
00:33:56,892 --> 00:33:57,942
Currency pairs
832
00:33:58,212 --> 00:34:01,752
and you see that in went on
trading effects I only look at lb.
833
00:34:02,322 --> 00:34:04,512
You know specialize in
it become the best in it.
834
00:34:05,292 --> 00:34:07,902
And is no different in future
the market she know I make.
835
00:34:08,382 --> 00:34:09,382
I.
836
00:34:09,552 --> 00:34:10,126
Know if
837
00:34:10,272 --> 00:34:12,402
lawyer present
them or portfolio is.
838
00:34:14,412 --> 00:34:16,212
Sep four hundred and crude oil.
839
00:34:16,992 --> 00:34:17,992
And whether you look
840
00:34:18,072 --> 00:34:19,122
he will say to me oh
841
00:34:19,290 --> 00:34:19,454
the
842
00:34:19,694 --> 00:34:22,122
futures on the dangerous
them I don't trade futures
843
00:34:22,362 --> 00:34:23,862
or he said nine Nina initial
844
00:34:24,102 --> 00:34:26,112
reality check don't go
anywhere near futures
845
00:34:26,410 --> 00:34:27,972
futures are just a proxy
846
00:34:28,092 --> 00:34:29,092
with there volume.
847
00:34:29,562 --> 00:34:31,362
But as you see they
moved take critique
848
00:34:31,602 --> 00:34:35,682
we the Mueller your own Rita
brokers markets all the stuff but again.
849
00:34:36,102 --> 00:34:37,102
Doesn't matter.
850
00:34:37,242 --> 00:34:39,342
Because until your
three four months.
851
00:34:39,792 --> 00:34:42,852
Profitable risk adjusted
basis on the simulator.
852
00:34:43,782 --> 00:34:44,592
Is irrelevant
853
00:34:44,712 --> 00:34:45,952
Saddam worry about all of that.
854
00:34:46,272 --> 00:34:48,072
What he is more point anyway.
855
00:34:48,703 --> 00:34:51,072
Is that I only focus
on to Marquez.
856
00:34:51,702 --> 00:34:51,972
At
857
00:34:52,152 --> 00:34:54,162
the time of me recording this.
858
00:34:54,672 --> 00:34:58,482
And obviously oil is
incredibly volatile so you know.
859
00:34:59,772 --> 00:35:03,702
This is a very advanced thing which we may
talk about later in the cosby obviously I
860
00:35:03,702 --> 00:35:04,702
recognize that
861
00:35:05,052 --> 00:35:07,692
and I know when to step
away and when to step in and.
862
00:35:08,382 --> 00:35:12,582
You know for example in effects in march
the trade the whole month because I did the.
863
00:35:12,972 --> 00:35:14,262
Analysis where you saw.
864
00:35:15,132 --> 00:35:17,846
The rangers were
outside of extremes and.
865
00:35:18,685 --> 00:35:19,193
And.
866
00:35:19,694 --> 00:35:23,082
Essentially wasn't the right time to
trade in how do I know that pick some so
867
00:35:23,082 --> 00:35:24,362
familiar with that market.
868
00:35:24,732 --> 00:35:28,362
This the advantage of only
trading one or two mall case.
869
00:35:28,692 --> 00:35:31,902
Right go to understand each
market has a personality.
870
00:35:32,502 --> 00:35:35,682
They trade differently they
have seasonal patterns.
871
00:35:36,372 --> 00:35:36,792
You know you
872
00:35:36,912 --> 00:35:39,432
just go to start
understanding this from a
873
00:35:39,642 --> 00:35:40,992
business perspective.
874
00:35:41,772 --> 00:35:43,932
I just don't see it
talked about enough
875
00:35:44,219 --> 00:35:44,756
and
876
00:35:44,952 --> 00:35:45,952
and.
877
00:35:46,092 --> 00:35:47,092
Sadly.
878
00:35:47,232 --> 00:35:50,292
Of hoochie most people have failed before
they stay arctic because they just don't
879
00:35:50,292 --> 00:35:52,362
get this since
simple concept that.
880
00:35:53,862 --> 00:35:55,842
Each market different
people talk about
881
00:35:55,962 --> 00:35:58,428
I'm sure you may have heard of
this where people sell you know.
882
00:35:58,452 --> 00:36:00,162
The smoke as his
personality that.
883
00:36:00,612 --> 00:36:03,432
What does it mean voice
personality what is our me
884
00:36:03,702 --> 00:36:05,142
you know again is like some.
885
00:36:05,622 --> 00:36:07,182
Mythical concept isn't.
886
00:36:08,802 --> 00:36:10,302
A lot of east to do with
887
00:36:10,422 --> 00:36:12,642
and in fact all of it is
to do with the volume.
888
00:36:13,093 --> 00:36:13,512
a
889
00:36:13,842 --> 00:36:15,642
and b the types of players
890
00:36:15,852 --> 00:36:18,192
that is it bottom line
those are the two things.
891
00:36:19,512 --> 00:36:21,372
So essentially things like.
892
00:36:21,852 --> 00:36:26,767
Very liquid contracts will have a
wide range of speculators and.
893
00:36:27,252 --> 00:36:28,252
Good volume
894
00:36:28,362 --> 00:36:29,832
liquidity which means.
895
00:36:30,192 --> 00:36:32,502
That walk it doesn't
have these big.
896
00:36:32,982 --> 00:36:36,852
Jumps we talked about this before
the inefficiencies that can occur.
897
00:36:37,452 --> 00:36:38,562
Can be very jumpy
898
00:36:38,952 --> 00:36:39,952
and.
899
00:36:40,602 --> 00:36:42,132
Obviously things that are liquid
900
00:36:42,402 --> 00:36:45,072
have of better
marketplace in terms of
901
00:36:45,192 --> 00:36:46,782
price determination so.
902
00:36:47,292 --> 00:36:49,872
You know or recognize
this as a professional guy
903
00:36:50,142 --> 00:36:52,872
but more importantly
show do professional firms
904
00:36:53,112 --> 00:36:56,292
so I'm gonna come back to that point
about professional firms recognizing this
905
00:36:56,712 --> 00:36:57,342
but why
906
00:36:57,460 --> 00:37:00,101
why do I only trade snp
volunteered and trudeau.
907
00:37:01,032 --> 00:37:01,392
Or less
908
00:37:01,664 --> 00:37:01,902
at.
909
00:37:02,532 --> 00:37:05,382
The top ten liquid
futures contracts.
910
00:37:05,982 --> 00:37:06,822
Globally
911
00:37:06,972 --> 00:37:07,972
in the world.
912
00:37:08,232 --> 00:37:09,232
Look what's number one.
913
00:37:09,822 --> 00:37:10,872
P five hundred okay.
914
00:37:11,622 --> 00:37:13,422
On average this daily volume
915
00:37:13,528 --> 00:37:15,822
and he actually is more this is.
916
00:37:16,542 --> 00:37:17,862
A little bit of an old jaw.
917
00:37:18,402 --> 00:37:23,232
As of now checking the they are he is the
average volume actually gone up even more.
918
00:37:23,862 --> 00:37:24,972
And bar.
919
00:37:25,512 --> 00:37:25,782
You know
920
00:37:26,068 --> 00:37:28,662
is one point seven million
contracts that they traded.
921
00:37:29,382 --> 00:37:32,922
Then you've got ten year treasuries which
as I said I don't look up because it can be
922
00:37:32,922 --> 00:37:34,059
incredibly slow.
923
00:37:34,722 --> 00:37:35,202
Bar
924
00:37:35,382 --> 00:37:37,872
is obviously a very popular
contract you got the nikkei
925
00:37:38,142 --> 00:37:40,542
you've got the burned
which is increase notably
926
00:37:40,782 --> 00:37:41,922
popular in Europe
927
00:37:42,162 --> 00:37:44,082
the German bond the
tenure German bond.
928
00:37:44,682 --> 00:37:45,522
And they look
929
00:37:45,642 --> 00:37:46,642
crew do.
930
00:37:47,172 --> 00:37:48,172
So the top.
931
00:37:48,612 --> 00:37:49,662
You know two.
932
00:37:50,172 --> 00:37:51,172
Or three.
933
00:37:51,342 --> 00:37:53,172
U s markets in the world.
934
00:37:54,102 --> 00:37:56,662
Classic ignore treasuries for now
because obviously they require.
935
00:37:57,012 --> 00:37:59,172
Specialized market and.
936
00:37:59,910 --> 00:38:03,852
And of the they're mainly used by institutions
governments and so on and so forth
937
00:38:04,122 --> 00:38:04,512
and the
938
00:38:04,632 --> 00:38:06,102
quite specific reasons.
939
00:38:06,912 --> 00:38:09,222
There is of course
speculation going on there bar
940
00:38:09,351 --> 00:38:10,351
and.
941
00:38:10,422 --> 00:38:14,262
Is a different type of speculation generally
and can be a little bit more complex
942
00:38:14,682 --> 00:38:15,042
and
943
00:38:15,162 --> 00:38:18,912
and as you've seen more importantly
the action on the depth of market.
944
00:38:19,722 --> 00:38:24,034
Is very soon blow your nose is more about
taking small texan we want to get away from
945
00:38:24,042 --> 00:38:25,042
move away from that so.
946
00:38:25,932 --> 00:38:27,173
On she can ignore that for now.
947
00:38:27,642 --> 00:38:28,642
In terms of
948
00:38:28,692 --> 00:38:31,932
real opportunity providing
US with opportunity to.
949
00:38:32,262 --> 00:38:32,383
You
950
00:38:32,560 --> 00:38:36,822
get on and may be take a decent range of
the day the best to markets in the world.
951
00:38:37,212 --> 00:38:39,522
Will number one without
those the sep five hundred.
952
00:38:40,182 --> 00:38:41,442
And and next is crude oil.
953
00:38:41,982 --> 00:38:44,169
And actually if you look here.
954
00:38:45,162 --> 00:38:47,262
Globally can you
see a single currency.
955
00:38:48,462 --> 00:38:48,882
Icon.
956
00:38:49,482 --> 00:38:50,482
To it's not there.
957
00:38:50,685 --> 00:38:55,632
Then if we go over to the see him he
which is just to see Chicago exchange that
958
00:38:55,662 --> 00:38:56,662
obviously we use.
959
00:38:57,253 --> 00:38:57,792
And
960
00:38:58,002 --> 00:39:02,082
for the snp five hundred
which is on the cmu exchange
961
00:39:02,322 --> 00:39:03,762
below the cmb group
962
00:39:04,062 --> 00:39:05,861
and then you've got
crude oil which is under.
963
00:39:06,192 --> 00:39:09,081
Nymex exchange below
this year me groups of
964
00:39:09,270 --> 00:39:10,270
see Emmy.
965
00:39:10,738 --> 00:39:11,110
And.
966
00:39:11,622 --> 00:39:13,602
Sep four hundred
again number one.
967
00:39:14,509 --> 00:39:15,852
Contract and crudo.
968
00:39:16,422 --> 00:39:19,872
Is number three but it's will
update one of the top contracts
969
00:39:20,352 --> 00:39:21,071
and then guys.
970
00:39:21,372 --> 00:39:23,082
This is what i'm
touching the this stuff.
971
00:39:23,472 --> 00:39:26,712
Look at gold very thin
market euro effects.
972
00:39:27,672 --> 00:39:28,752
Is okay but
973
00:39:28,902 --> 00:39:30,522
very thin market you know
974
00:39:31,002 --> 00:39:35,832
and you talking about walk one point seven
more put a million contracts in the s and
975
00:39:35,832 --> 00:39:36,832
p five hundred.
976
00:39:37,272 --> 00:39:38,272
And.
977
00:39:38,802 --> 00:39:39,802
Six
978
00:39:39,972 --> 00:39:41,832
five six times less volume.
979
00:39:42,372 --> 00:39:45,792
And dassin the euro can you
imagine some of the other pairs.
980
00:39:46,152 --> 00:39:48,492
That people are trading
these cross rates and.
981
00:39:49,272 --> 00:39:54,642
Bureau ozy and ozy toilet completely
bonkers guys you go to realize you've been.
982
00:39:55,872 --> 00:39:56,258
I
983
00:39:56,442 --> 00:39:56,802
take it
984
00:39:57,009 --> 00:39:58,152
hope you do most heinous.
985
00:39:58,602 --> 00:39:59,602
In retail.
986
00:39:59,712 --> 00:40:02,892
You been taken down the garden
path basically when it comes to.
987
00:40:03,464 --> 00:40:06,222
Assure you are loved by cause
the serious people are losing money.
988
00:40:06,732 --> 00:40:10,177
In instruments that have
very little transparent volume.
989
00:40:10,482 --> 00:40:14,112
I get a three to five trillion dollars I
know I was in the middle of all other.
990
00:40:14,622 --> 00:40:17,742
By great luck her told
you is an incredibly difficult
991
00:40:18,012 --> 00:40:19,302
and advance market.
992
00:40:19,992 --> 00:40:21,732
Don't take my word
for it come and check.
993
00:40:22,062 --> 00:40:25,122
Days and not a single
professional from on this planet.
994
00:40:25,482 --> 00:40:27,972
That will let you trade foreign
exchange when you start
995
00:40:28,272 --> 00:40:28,662
okay.
996
00:40:29,082 --> 00:40:30,312
That fool check it
997
00:40:30,492 --> 00:40:32,022
check go and check for yourself.
998
00:40:33,032 --> 00:40:36,294
We're going to get use
writing the snp five hundred.
999
00:40:36,684 --> 00:40:38,814
Maybe if you're lucky crude oil.
1000
00:40:39,654 --> 00:40:40,944
If you go to US from.
1001
00:40:41,634 --> 00:40:42,634
And.
1002
00:40:42,804 --> 00:40:46,284
This is obviously if you don't trade
individual stocks I'm talking about futures
1003
00:40:46,284 --> 00:40:47,284
markets and.
1004
00:40:47,454 --> 00:40:48,454
More.
1005
00:40:48,984 --> 00:40:53,304
In a global composite things and
obviously individual products it's
1006
00:40:53,574 --> 00:40:54,054
like
1007
00:40:54,174 --> 00:40:57,114
commodities crude oil and
gold and so on and so forth
1008
00:40:57,474 --> 00:40:59,664
and then for exchanges
of see more like her.
1009
00:41:00,533 --> 00:41:03,684
A grouped asset cloth rather
than individual stocks spot
1010
00:41:03,984 --> 00:41:07,344
so in terms of the speculative
assets that we used to seeing.
1011
00:41:07,855 --> 00:41:08,855
And.
1012
00:41:09,084 --> 00:41:11,064
Snp five hundred is really.
1013
00:41:11,424 --> 00:41:14,484
The only thing that going to let you
near smp may be ten year treasuries
1014
00:41:14,754 --> 00:41:15,924
you know basically
1015
00:41:16,074 --> 00:41:17,454
liquid instruments cause.
1016
00:41:18,504 --> 00:41:18,984
That's it.
1017
00:41:19,374 --> 00:41:21,171
Once you start getting
below here know
1018
00:41:21,347 --> 00:41:23,548
these are advancement
kitchen really touch him
1019
00:41:24,021 --> 00:41:27,954
and you know you've got things like the
pound you see me trading the pound is fair he
1020
00:41:27,954 --> 00:41:28,954
advanced market.
1021
00:41:29,424 --> 00:41:29,904
And
1022
00:41:30,144 --> 00:41:30,684
was he to
1023
00:41:30,934 --> 00:41:31,162
on.
1024
00:41:31,494 --> 00:41:33,504
Cross rates forget
it this Lamar care.
1025
00:41:33,894 --> 00:41:35,904
Be lucky to get few
thousand contracts
1026
00:41:36,204 --> 00:41:38,424
trading in a liquid
marketplace right.
1027
00:41:39,144 --> 00:41:40,524
Don't get confused with.
1028
00:41:41,484 --> 00:41:44,454
The three to five trillion not
be here thus obviously o t c so.
1029
00:41:44,964 --> 00:41:46,524
My point is that these guys.
1030
00:41:47,184 --> 00:41:48,894
In a professional
from the not so
1031
00:41:49,104 --> 00:41:52,074
you know bow means if you want to
become a treasury trader go and do it
1032
00:41:52,374 --> 00:41:54,594
and if you wanna trade
some think differently
1033
00:41:54,714 --> 00:41:55,074
do it
1034
00:41:55,194 --> 00:41:56,934
but pick from liquid
1035
00:41:57,204 --> 00:41:58,204
more case
1036
00:41:58,314 --> 00:42:01,794
was he had Von each guys I
can see all this volume were.
1037
00:42:02,904 --> 00:42:04,884
On my profile and
it means something.
1038
00:42:05,244 --> 00:42:07,014
When you start going down here
1039
00:42:07,464 --> 00:42:09,174
and looking at all this.
1040
00:42:09,984 --> 00:42:10,163
But
1041
00:42:10,268 --> 00:42:11,994
must say the word
junk because it isn't
1042
00:42:12,114 --> 00:42:13,704
people do make money of it but.
1043
00:42:14,064 --> 00:42:15,064
How meaningful.
1044
00:42:15,324 --> 00:42:16,794
Is the transactions that we see.
1045
00:42:17,364 --> 00:42:21,144
You know an ongoing to talk about
this a lot when I go to the effect section.
1046
00:42:22,014 --> 00:42:22,554
And
1047
00:42:22,674 --> 00:42:22,914
and
1048
00:42:23,154 --> 00:42:26,244
I don't know when I'm going to build are
obviously are built at some point in the
1049
00:42:26,244 --> 00:42:26,964
future bar
1050
00:42:27,234 --> 00:42:30,194
and I keep trying to tell people this
and they don't understand what I say.
1051
00:42:30,534 --> 00:42:30,864
You know.
1052
00:42:31,254 --> 00:42:32,994
I've been watching the pound for
1053
00:42:33,114 --> 00:42:34,254
over a decade Eden.
1054
00:42:34,614 --> 00:42:35,752
Obviously on
1055
00:42:35,964 --> 00:42:39,144
eyeballing a lot of this
why because no value.
1056
00:42:39,774 --> 00:42:41,094
And I have recognize that
1057
00:42:41,274 --> 00:42:42,384
and I trade accordingly.
1058
00:42:43,376 --> 00:42:45,714
Your gosh trading
indicators and whatnot on.
1059
00:42:47,514 --> 00:42:51,864
The most illiquid marketplace
is unbelievable right.
1060
00:42:52,374 --> 00:42:55,764
So of your or I'm saying this enthusiasm
because I hadn't shown you this
1061
00:42:55,944 --> 00:42:56,634
course before
1062
00:42:56,904 --> 00:42:58,944
and why a lot of people
at what you trade.
1063
00:42:59,274 --> 00:43:00,324
Sep five hundred watch
1064
00:43:00,534 --> 00:43:00,943
cooler
1065
00:43:01,194 --> 00:43:01,674
role of.
1066
00:43:02,004 --> 00:43:03,294
Stem number one.
1067
00:43:04,314 --> 00:43:05,314
Market.
1068
00:43:05,394 --> 00:43:06,114
In the world
1069
00:43:06,264 --> 00:43:07,404
in terms of liquid city
1070
00:43:07,554 --> 00:43:09,054
ok guys is the most.
1071
00:43:10,434 --> 00:43:13,614
Transparent marketplace in the
world rise common sense you
1072
00:43:13,794 --> 00:43:16,194
gotta be looking at
this market you have to.
1073
00:43:16,914 --> 00:43:19,854
Even if you go on and
develop a career in a different
1074
00:43:19,974 --> 00:43:23,214
asset I'm not saying don't if you want
to go and trade effects in a few years'
1075
00:43:23,214 --> 00:43:24,214
time.
1076
00:43:24,564 --> 00:43:25,944
You want trade something else.
1077
00:43:27,354 --> 00:43:27,744
To the
1078
00:43:27,954 --> 00:43:29,784
been learn how to read.
1079
00:43:30,204 --> 00:43:30,654
That mall.
1080
00:43:31,004 --> 00:43:33,894
Boy boys telling you upon
liquid marketplace his face
1081
00:43:34,224 --> 00:43:35,574
and I'm going
to talk about this.
1082
00:43:36,056 --> 00:43:37,554
In that reality check part.
1083
00:43:38,184 --> 00:43:40,744
I don't take this the wrong way
I hope so I'm trying to help you.
1084
00:43:41,274 --> 00:43:42,444
If you can't trade.
1085
00:43:43,584 --> 00:43:44,584
I.
1086
00:43:44,664 --> 00:43:49,254
Successfully on liquid marketplace it
honestly be be honest with yourself.
1087
00:43:49,614 --> 00:43:50,784
What hope have you got.
1088
00:43:51,654 --> 00:43:52,944
An illiquid marketplaces
1089
00:43:53,064 --> 00:43:54,384
very little audience have
1090
00:43:54,504 --> 00:43:55,674
never seen it in my life.
1091
00:43:56,154 --> 00:43:56,724
Is not
1092
00:43:56,994 --> 00:43:58,554
then up and in my opinion so.
1093
00:43:59,424 --> 00:44:02,994
I hope you can see why I'm saying or of this
because I don't like to just say to yeah
1094
00:44:02,996 --> 00:44:03,744
do you know what does too
1095
00:44:03,895 --> 00:44:04,944
US mps the best
1096
00:44:05,214 --> 00:44:05,574
trade
1097
00:44:05,754 --> 00:44:06,144
do
1098
00:44:06,264 --> 00:44:08,544
believe me as the best know
I like to show you evidence.
1099
00:44:08,934 --> 00:44:10,134
That is what I'm trying to do.
1100
00:44:10,432 --> 00:44:11,454
Guys is really.
1101
00:44:12,146 --> 00:44:12,594
Do.
1102
00:44:13,014 --> 00:44:14,544
Back everything up I say with
1103
00:44:14,826 --> 00:44:16,734
hard evidence on
his the odd evidence.
1104
00:44:17,244 --> 00:44:17,574
That
1105
00:44:17,724 --> 00:44:20,304
they're the most liquid
market places in the world.
1106
00:44:21,024 --> 00:44:21,499
I.
1107
00:44:21,864 --> 00:44:23,874
Say got crudo there
and actually crude is
1108
00:44:24,144 --> 00:44:26,874
now approaching close to
million contracts at base even.
1109
00:44:27,324 --> 00:44:28,824
Jumped up and do.
1110
00:44:29,604 --> 00:44:32,754
So thus wire only look
at those two markets.
1111
00:44:33,624 --> 00:44:35,003
I said you're welcome to look up
1112
00:44:35,214 --> 00:44:37,854
other liquid marketplaces
but please will be due to.
1113
00:44:38,364 --> 00:44:42,864
Start looking at all of this stuff is is
it just going to find it very difficult to
1114
00:44:42,864 --> 00:44:43,864
learn anything.
1115
00:44:44,304 --> 00:44:45,304
And.
1116
00:44:46,074 --> 00:44:47,074
Just my opinion.
1117
00:44:47,304 --> 00:44:48,413
Professional opinion is.
1118
00:44:48,864 --> 00:44:52,254
Focus on the snp treasuries
if you want or cruder.
1119
00:44:52,824 --> 00:44:54,444
Fantastic markets and
1120
00:44:54,744 --> 00:44:56,784
just recognize like
I said of she crew
1121
00:44:56,966 --> 00:44:58,374
was quite volatile
at the moment.
1122
00:44:58,794 --> 00:45:00,863
Step away focus on the snp when
1123
00:45:01,134 --> 00:45:02,454
volatility comes out.
1124
00:45:02,814 --> 00:45:03,814
Get back on it.
1125
00:45:04,104 --> 00:45:04,944
The snp has its
1126
00:45:05,094 --> 00:45:05,214
at
1127
00:45:05,336 --> 00:45:07,736
moments called record ignore
will take you for of the gas and
1128
00:45:08,004 --> 00:45:09,764
those are things we
can talk about later but.
1129
00:45:10,344 --> 00:45:14,274
I just do it was important I said this
because going forward I'm not going to be
1130
00:45:14,274 --> 00:45:15,594
talking about any other markets
1131
00:45:15,894 --> 00:45:18,114
or will oversee trying
my best to build.
1132
00:45:18,624 --> 00:45:19,162
Some sort
1133
00:45:19,373 --> 00:45:20,034
he civil
1134
00:45:20,184 --> 00:45:21,184
or coherent.
1135
00:45:22,104 --> 00:45:23,720
Effect section but.
1136
00:45:24,114 --> 00:45:26,994
I haven't done that
yet so I don't know
1137
00:45:27,024 --> 00:45:28,230
obviously thus going
to be quite difficult given.
1138
00:45:28,254 --> 00:45:32,514
The way the a traitor and you know these
issues in liquidity ball certainly put
1139
00:45:32,514 --> 00:45:33,594
something out there but.
1140
00:45:34,524 --> 00:45:37,314
At least for the foreseeable
future with this particular
1141
00:45:37,554 --> 00:45:38,634
profile section.
1142
00:45:39,324 --> 00:45:40,011
Is just going to be as
1143
00:45:40,118 --> 00:45:41,754
five hundred and crudo and
1144
00:45:41,994 --> 00:45:43,524
his backed up by
this evidence so.
1145
00:45:44,184 --> 00:45:46,854
Basically what is a
sabbatical the initial and it was.
1146
00:45:47,454 --> 00:45:50,055
Important I said that because
I'm talking about volume that right.
1147
00:45:50,904 --> 00:45:51,904
So.
1148
00:45:52,516 --> 00:45:53,604
What is his look
1149
00:45:54,024 --> 00:45:54,594
and
1150
00:45:54,744 --> 00:45:56,754
there's certain
things you can find on.
1151
00:45:57,174 --> 00:45:58,523
Google and.
1152
00:45:59,304 --> 00:46:01,319
There's no point me
talking for a long time about
1153
00:46:01,464 --> 00:46:02,634
but stuff like this
1154
00:46:02,844 --> 00:46:04,014
he won't be obvious to you.
1155
00:46:04,644 --> 00:46:06,804
But things like
all t h and e t h.
1156
00:46:07,825 --> 00:46:08,825
You can Google it.
1157
00:46:09,205 --> 00:46:12,414
And uneven stuff obviously
market profile theory.
1158
00:46:13,014 --> 00:46:13,374
So.
1159
00:46:13,824 --> 00:46:16,884
Will I will do is obviously
of try and keep her as.
1160
00:46:17,934 --> 00:46:20,454
To the point as possible
and if there's anything maybe.
1161
00:46:20,844 --> 00:46:23,154
You felt that you want
to learn more about
1162
00:46:23,364 --> 00:46:26,124
I even seven last session
Google everything anyway bought.
1163
00:46:26,484 --> 00:46:29,394
This in particular you Google
you find some great info.
1164
00:46:29,934 --> 00:46:31,314
Out there about a spot.
1165
00:46:31,944 --> 00:46:34,824
Essentially what it
was is a long time ago.
1166
00:46:36,684 --> 00:46:37,344
Everything
1167
00:46:37,464 --> 00:46:39,834
in the futures market
was traded through a pit.
1168
00:46:40,194 --> 00:46:42,024
Rise to the see
him he had a pit.
1169
00:46:42,534 --> 00:46:43,780
For oil for.
1170
00:46:44,154 --> 00:46:47,033
All different types of
futures obviously and.
1171
00:46:48,054 --> 00:46:52,374
Essentially what it was his these
were physical marketplaces okay.
1172
00:46:53,007 --> 00:46:57,174
Is called an open outcry so you know use
you may have seen it in the movies where you
1173
00:46:57,174 --> 00:46:57,384
get
1174
00:46:57,564 --> 00:46:59,904
all these guys in yellow
jackets or whatever.
1175
00:47:00,414 --> 00:47:01,584
Screaming and shouting
1176
00:47:01,720 --> 00:47:03,924
each of our and
these were essentially.
1177
00:47:04,374 --> 00:47:06,714
Floor traders market
makers guys and.
1178
00:47:07,404 --> 00:47:08,004
They
1179
00:47:08,244 --> 00:47:10,344
had pit hours right so
1180
00:47:10,734 --> 00:47:12,354
and thus essentially war
1181
00:47:12,474 --> 00:47:14,304
or th his regular trading hours.
1182
00:47:14,694 --> 00:47:17,214
So for the a smp futures pit
1183
00:47:17,484 --> 00:47:18,624
the ours was.
1184
00:47:19,044 --> 00:47:20,784
Nine thirty two four fifteen.
1185
00:47:21,594 --> 00:47:22,614
New York time.
1186
00:47:22,944 --> 00:47:25,464
Which is to thirty to
nine fifteen UK time.
1187
00:47:25,974 --> 00:47:26,484
And
1188
00:47:26,603 --> 00:47:28,450
and for crude
oil it was a short.
1189
00:47:29,244 --> 00:47:30,244
Shorter session.
1190
00:47:30,534 --> 00:47:33,804
Said was nine in the
morning to to thirty eastern so
1191
00:47:34,044 --> 00:47:35,044
new York.
1192
00:47:35,274 --> 00:47:37,854
And which he two
p m to seven thirty
1193
00:47:38,094 --> 00:47:39,094
pm.
1194
00:47:39,294 --> 00:47:40,294
Gmt.
1195
00:47:40,374 --> 00:47:40,944
So
1196
00:47:41,064 --> 00:47:41,784
you can trade
1197
00:47:41,934 --> 00:47:43,194
her side of those hours.
1198
00:47:44,514 --> 00:47:47,364
Until obviously later on
they introduced globex the
1199
00:47:47,574 --> 00:47:48,654
electronic trading.
1200
00:47:49,044 --> 00:47:51,234
Electronic markets
which you see today
1201
00:47:51,444 --> 00:47:54,324
you know I said it's done through an
exchange electronically that wasn't.
1202
00:47:54,654 --> 00:47:57,444
Available before when the
the we're only pit trading.
1203
00:47:57,774 --> 00:47:59,301
Many years ago and.
1204
00:47:59,964 --> 00:48:02,334
So Lucas had you can
Google all the staff bar
1205
00:48:02,484 --> 00:48:02,994
and.
1206
00:48:03,324 --> 00:48:06,534
Essentially what happened is you'd
have to obviously contact your broker.
1207
00:48:07,268 --> 00:48:08,931
The broker would contact.
1208
00:48:09,324 --> 00:48:10,764
I believe in all the o'clock.
1209
00:48:11,364 --> 00:48:12,564
On the actual pay.
1210
00:48:12,954 --> 00:48:15,084
The old o'clock with Ben.
1211
00:48:15,504 --> 00:48:16,224
Let the
1212
00:48:16,404 --> 00:48:17,604
floor broken know.
1213
00:48:18,414 --> 00:48:20,814
That you wanted to try
the flow broker would then.
1214
00:48:21,354 --> 00:48:25,374
Trade with bed of citrate recover
and get your order executed.
1215
00:48:25,944 --> 00:48:28,104
That would then
be fed back to the
1216
00:48:28,254 --> 00:48:29,254
I.
1217
00:48:29,454 --> 00:48:30,834
Wrote that I said
the old o'clock
1218
00:48:31,074 --> 00:48:34,824
the old o'clock with until your broker the
brookville to she can imagine that process.
1219
00:48:35,544 --> 00:48:37,914
May be take five ten
minutes sometimes to do.
1220
00:48:38,579 --> 00:48:40,674
And again you can
read more about this.
1221
00:48:41,154 --> 00:48:42,474
If you want in your own time.
1222
00:48:43,344 --> 00:48:44,344
So
1223
00:48:44,394 --> 00:48:45,394
then.
1224
00:48:45,504 --> 00:48:49,794
Electoral of just technology improved
they introduced electronic markets and they
1225
00:48:49,794 --> 00:48:51,834
said you know what we're
going to essentially trade.
1226
00:48:52,194 --> 00:48:53,934
Twenty three hours a day so.
1227
00:48:54,444 --> 00:48:55,444
And.
1228
00:48:55,644 --> 00:48:56,844
Is six p a m
1229
00:48:57,294 --> 00:49:01,373
to five p m so you may notice on your
depth of Marquis I believe about five pm it
1230
00:49:01,373 --> 00:49:02,373
just switches off.
1231
00:49:02,484 --> 00:49:04,524
Six pm it comes
back on it resets.
1232
00:49:04,914 --> 00:49:05,994
Thus eastern time.
1233
00:49:06,949 --> 00:49:10,254
So it's eleven p m at
night through to ten pm.
1234
00:49:10,704 --> 00:49:11,704
UK time.
1235
00:49:12,427 --> 00:49:13,134
Gmt
1236
00:49:13,434 --> 00:49:16,794
and is to say the electronic
trading hours for the snp you
1237
00:49:17,064 --> 00:49:21,264
are exactly the same so is pretty much
twenty four hours of she got a one hour.
1238
00:49:21,924 --> 00:49:22,924
And.
1239
00:49:23,454 --> 00:49:27,324
Period maintenance period they
call it so it's essentially a new day sigh.
1240
00:49:28,104 --> 00:49:29,634
And what happened overtime is.
1241
00:49:30,234 --> 00:49:32,994
Obviously electronic people
start to think you know all.
1242
00:49:33,654 --> 00:49:34,654
Such from.
1243
00:49:35,154 --> 00:49:35,724
And.
1244
00:49:36,144 --> 00:49:37,463
You know that sort of.
1245
00:49:37,824 --> 00:49:39,924
Difficult process and onerous.
1246
00:49:40,284 --> 00:49:43,914
Process doing it the way the artist described
as you can imagine one hundred click a
1247
00:49:43,914 --> 00:49:44,334
button and.
1248
00:49:44,664 --> 00:49:46,524
So what's happened
over time he is that
1249
00:49:46,644 --> 00:49:49,524
you know is almost become
redundant the pits and not believe.
1250
00:49:50,094 --> 00:49:51,174
Recent leave
1251
00:49:51,444 --> 00:49:53,724
may be three four years
ago the cm he shop.
1252
00:49:54,114 --> 00:49:56,634
Majority of the pier to thing
that might be some open bar
1253
00:49:57,054 --> 00:49:57,534
and.
1254
00:49:57,954 --> 00:50:00,954
Oversee the these products
the pits were closed down and.
1255
00:50:01,344 --> 00:50:03,384
Sinners fully electronic however
1256
00:50:03,534 --> 00:50:05,014
the re reason I
told you will of this.
1257
00:50:05,394 --> 00:50:09,444
Is because rather than having open
outcry they now have electronic open up
1258
00:50:09,707 --> 00:50:10,014
so.
1259
00:50:10,554 --> 00:50:11,784
The pit hours
1260
00:50:11,904 --> 00:50:13,794
are still very much active.
1261
00:50:15,025 --> 00:50:15,234
And.
1262
00:50:15,834 --> 00:50:17,004
And observed
1263
00:50:17,214 --> 00:50:20,154
and adhered to but it just
an electronically cleaner.
1264
00:50:21,114 --> 00:50:23,064
And what I've observed again
1265
00:50:23,184 --> 00:50:24,504
don't take my word for it.
1266
00:50:25,914 --> 00:50:27,834
Is great exercise
for you guys to do.
1267
00:50:28,344 --> 00:50:32,154
And I know is this myself when I'm watching
you know I built you that quote board.
1268
00:50:32,634 --> 00:50:34,284
You see in the mornings
1269
00:50:34,434 --> 00:50:35,434
so if you're in the.
1270
00:50:35,648 --> 00:50:37,868
I see this won't happen
till about two thirty buck.
1271
00:50:38,468 --> 00:50:42,998
From eleven at night when you let's say so
what I do is a lesser you start observing.
1272
00:50:44,228 --> 00:50:46,628
Smp or crew door
when it's about midday.
1273
00:50:47,138 --> 00:50:50,198
And or earlier obviously
seventy in the morning.
1274
00:50:51,068 --> 00:50:52,718
If you're in the
u s new York or.
1275
00:50:53,708 --> 00:50:54,848
Chicago or whatever.
1276
00:50:55,778 --> 00:50:58,028
Just look at the
volume and you see
1277
00:50:58,268 --> 00:50:58,598
that.
1278
00:50:59,258 --> 00:51:00,878
Once the day kicks off.
1279
00:51:01,719 --> 00:51:06,248
Just look at the fully just in the rt h of
off know his days a round of eyes of.
1280
00:51:06,878 --> 00:51:09,548
By eighty two
eighty five percent.
1281
00:51:10,568 --> 00:51:12,668
Of all volume takes place
1282
00:51:12,968 --> 00:51:13,968
here.
1283
00:51:14,048 --> 00:51:15,048
So.
1284
00:51:15,308 --> 00:51:16,388
Let me just.
1285
00:51:17,378 --> 00:51:18,378
Of this.
1286
00:51:18,725 --> 00:51:20,408
To so I can be
very clear with one
1287
00:51:20,678 --> 00:51:21,678
st you.
1288
00:51:23,558 --> 00:51:24,668
This this session.
1289
00:51:25,868 --> 00:51:26,868
Which is the picked.
1290
00:51:27,038 --> 00:51:27,578
Session.
1291
00:51:27,968 --> 00:51:30,398
Say electric open
outcry is called the pit
1292
00:51:30,608 --> 00:51:32,738
basically session
bodies all electronic.
1293
00:51:33,418 --> 00:51:35,538
Don't worry you don't need
to put yellow jacket on and
1294
00:51:35,678 --> 00:51:38,738
start screaming and chow in your
order at someone is none at all.
1295
00:51:39,338 --> 00:51:43,898
But it's essentially mimicking the but
electronically now like I said because they've
1296
00:51:43,898 --> 00:51:44,898
shut the pitch but.
1297
00:51:45,458 --> 00:51:46,958
There will be so he maintained
1298
00:51:47,107 --> 00:51:48,107
the p hours.
1299
00:51:48,608 --> 00:51:49,608
And.
1300
00:51:49,958 --> 00:51:50,958
Yeah so.
1301
00:51:51,758 --> 00:51:55,898
Let's say you get may be fifteen percent
of volume here and get eighty five percent.
1302
00:51:56,618 --> 00:51:58,478
Down here it's
amazing isn't it so
1303
00:51:58,778 --> 00:52:00,848
you know in such a
short period of time.
1304
00:52:01,298 --> 00:52:03,428
Especially if you think of
something like crude oil.
1305
00:52:04,028 --> 00:52:05,468
And where you've got.
1306
00:52:06,249 --> 00:52:08,078
So eighty five percent here.
1307
00:52:08,858 --> 00:52:10,118
And fifty percent here.
1308
00:52:11,768 --> 00:52:15,308
Obviously during volatile
period you know like when there's
1309
00:52:15,489 --> 00:52:17,858
a key fundamental
events going on and.
1310
00:52:18,188 --> 00:52:21,518
People have positions or they're
asleep and they're being stopped out.
1311
00:52:21,848 --> 00:52:24,428
Which can help and in
volatile markets you will see the
1312
00:52:24,638 --> 00:52:27,368
overnight is called also
called the overnight session.
1313
00:52:28,268 --> 00:52:30,338
This is called the day
session essentially.
1314
00:52:32,123 --> 00:52:33,123
Day.
1315
00:52:33,698 --> 00:52:35,678
Okay and this is
called the overnight.
1316
00:52:36,488 --> 00:52:37,488
Overnight
1317
00:52:37,718 --> 00:52:40,388
and you hear me and
many professional traders.
1318
00:52:40,748 --> 00:52:44,408
Used these words
interchangeably e t h globex.
1319
00:52:46,298 --> 00:52:50,018
Which is the cms name for the
electronic trading hours overnight.
1320
00:52:50,438 --> 00:52:52,688
Overnight because he's
overnight won't you sleepy.
1321
00:52:53,228 --> 00:52:54,228
During these times
1322
00:52:54,578 --> 00:52:56,258
and then the day session is
1323
00:52:56,558 --> 00:53:00,608
you go to remember these are American market
so obviously they're thinking in terms
1324
00:53:00,608 --> 00:53:02,888
of daytime nine
thirty to four fifteen.
1325
00:53:04,298 --> 00:53:05,768
Is very much ram
1326
00:53:06,098 --> 00:53:07,868
and it kind of also.
1327
00:53:08,678 --> 00:53:12,877
Is very much in line with the underlined
because the snp five hundred if you use the
1328
00:53:12,877 --> 00:53:13,877
trading.
1329
00:53:14,078 --> 00:53:15,368
And any stock.
1330
00:53:16,148 --> 00:53:17,648
Trackers or whatever they are
1331
00:53:17,948 --> 00:53:18,948
that you trade.
1332
00:53:19,298 --> 00:53:21,217
Obviously this tracks
1333
00:53:21,458 --> 00:53:24,938
essentially one for
one with the underlying
1334
00:53:24,938 --> 00:53:25,358
which is the smp five
hundred but obviously.
1335
00:53:25,718 --> 00:53:27,398
This runs twenty four hours but.
1336
00:53:27,938 --> 00:53:28,938
Like I said.
1337
00:53:29,978 --> 00:53:33,398
There will be people trading it
overnight but it's very very low volume.
1338
00:53:34,178 --> 00:53:35,588
Talking about fifteen percent.
1339
00:53:35,978 --> 00:53:36,978
So.
1340
00:53:38,318 --> 00:53:41,558
And I will tell you why this is very
important especially for profile by.
1341
00:53:41,978 --> 00:53:43,328
The point is what
we're saying is.
1342
00:53:43,808 --> 00:53:45,608
If you think about it's
amazing isn't it that.
1343
00:53:46,300 --> 00:53:47,300
Essentially.
1344
00:53:47,648 --> 00:53:49,268
Almost the entire volume
1345
00:53:49,448 --> 00:53:50,448
takes place in.
1346
00:53:51,338 --> 00:53:53,588
The pit session so
you know a few hours
1347
00:53:53,708 --> 00:53:54,708
in oil.
1348
00:53:54,878 --> 00:53:58,507
Nine in the morning to to though
he done by ninety percent volume.
1349
00:53:59,016 --> 00:54:00,608
The rest of the time so.
1350
00:54:01,118 --> 00:54:02,118
I was
1351
00:54:02,203 --> 00:54:03,818
the spot five and a half hours.
1352
00:54:04,238 --> 00:54:07,148
The rest of the time what
fifteen sixteen seventeen hours.
1353
00:54:07,838 --> 00:54:09,008
Really very low volume.
1354
00:54:09,758 --> 00:54:10,758
And same.
1355
00:54:10,928 --> 00:54:14,618
As you see here in the snp people
under oversee the session slightly longer.
1356
00:54:15,818 --> 00:54:19,238
But ninety percent of the volume
is essentially being done in what.
1357
00:54:19,658 --> 00:54:21,578
About thirty
percent of the time.
1358
00:54:22,418 --> 00:54:23,558
So why is this important.
1359
00:54:24,398 --> 00:54:25,398
Because
1360
00:54:25,449 --> 00:54:28,268
very very very
important to know this.
1361
00:54:29,558 --> 00:54:34,328
Firstly obviously you are know it because
you got to know okay we're all participants
1362
00:54:34,328 --> 00:54:35,328
focusing on.
1363
00:54:35,588 --> 00:54:37,178
When should I be active.
1364
00:54:37,658 --> 00:54:38,078
Well.
1365
00:54:38,438 --> 00:54:41,648
I'm basically active of
you an honest review.
1366
00:54:42,368 --> 00:54:43,388
Other really trade
1367
00:54:43,628 --> 00:54:44,228
overnight
1368
00:54:44,348 --> 00:54:45,818
fifteen percent of volume I got
1369
00:54:45,938 --> 00:54:47,468
no interest in trading
1370
00:54:47,738 --> 00:54:48,938
the overnight session.
1371
00:54:49,568 --> 00:54:53,858
I'm gonna be active when the local
market is active right make sense.
1372
00:54:55,088 --> 00:54:58,028
So the is obviously
up on based in the UK.
1373
00:54:58,358 --> 00:55:02,078
So I like to do bit of effects in the
morning as you know Bob lacazette the is in
1374
00:55:02,078 --> 00:55:03,548
advance marketplace so.
1375
00:55:04,148 --> 00:55:05,148
And.
1376
00:55:05,528 --> 00:55:08,708
My suggestion would be obviously
I don't necessarily want you
1377
00:55:09,098 --> 00:55:10,208
to do effects
1378
00:55:10,418 --> 00:55:11,828
until late running a career
1379
00:55:12,248 --> 00:55:15,009
but I understand people are so
used to doing here they want to
1380
00:55:15,128 --> 00:55:16,128
go keep busy and
1381
00:55:16,418 --> 00:55:16,538
as
1382
00:55:16,695 --> 00:55:18,998
you're doing on demo
and doing whatever.
1383
00:55:19,628 --> 00:55:22,874
I prefer you weren't doing it if it was
technical analysis stuff and whatever bought
1384
00:55:22,898 --> 00:55:24,578
if you gotta do something
to keep you busy.
1385
00:55:24,938 --> 00:55:26,948
Do a otherwise do other stuff.
1386
00:55:27,728 --> 00:55:31,259
What this is obviously if you way
depending on where you're based on.
1387
00:55:32,168 --> 00:55:35,528
If you're in the u s
great you're lucky cause
1388
00:55:35,596 --> 00:55:36,824
you can just wake up
and say throw away.
1389
00:55:36,848 --> 00:55:40,208
You're hitting these markets you know so
I like to look at them about half an hour
1390
00:55:40,208 --> 00:55:41,208
before the open.
1391
00:55:41,528 --> 00:55:42,788
Obviously I do my prep.
1392
00:55:43,088 --> 00:55:45,878
Will talk about this a
lot more as we progress.
1393
00:55:46,720 --> 00:55:48,428
Times to do prep
and stuff like the.
1394
00:55:49,211 --> 00:55:50,211
By essentially.
1395
00:55:50,738 --> 00:55:53,078
A like to stop being ready.
1396
00:55:53,768 --> 00:55:54,638
For trading
1397
00:55:54,788 --> 00:55:57,008
on the snp he say about nine am.
1398
00:55:57,578 --> 00:55:58,808
To half an hour before
1399
00:55:59,258 --> 00:56:03,548
and about eight thirty in u s
crude to thou be about one.
1400
00:56:04,058 --> 00:56:06,278
Thirty UK time and
1401
00:56:06,548 --> 00:56:08,438
say about two p m.
1402
00:56:09,338 --> 00:56:12,608
Now what will happen he is
overtime my prep time used to take
1403
00:56:12,788 --> 00:56:13,898
power hour and a half.
1404
00:56:15,818 --> 00:56:18,218
I'm embarrassed to say
but it's true it doesn't take me
1405
00:56:18,398 --> 00:56:19,658
anywhere near that now can.
1406
00:56:20,108 --> 00:56:22,328
Ten twenty minutes
I like to spend on it.
1407
00:56:23,138 --> 00:56:25,718
May be a little bit longer
depending on obviously how.
1408
00:56:26,080 --> 00:56:26,613
I.
1409
00:56:27,038 --> 00:56:29,438
Will set up the monkees if it's
1410
00:56:29,738 --> 00:56:33,218
if there's a lot of things that are unclear
then obviously will take a bit longer but.
1411
00:56:33,638 --> 00:56:35,019
My point years but gosh go
1412
00:56:35,168 --> 00:56:37,208
limbaugh been looking at
these markets for you know.
1413
00:56:37,538 --> 00:56:39,338
Many many years so I have
1414
00:56:39,458 --> 00:56:41,018
reduced my prep time but.
1415
00:56:41,438 --> 00:56:44,228
When I started you know I did
used to spend at least about.
1416
00:56:45,038 --> 00:56:47,318
Forty five minutes
maybe an hour prepping.
1417
00:56:47,828 --> 00:56:49,958
Beforehand so my
suggestion would be that.
1418
00:56:51,338 --> 00:56:54,788
So can you see why I'm doing
this because I want you to be.
1419
00:56:55,448 --> 00:56:57,698
Motivated now because
more the Stein to.
1420
00:56:58,088 --> 00:57:00,008
Get you geared up towards how.
1421
00:57:00,878 --> 00:57:02,168
You can start preparing
1422
00:57:02,318 --> 00:57:03,788
for trading these markets.
1423
00:57:05,078 --> 00:57:08,438
This is not by any means set in
stone you know if you want to trade.
1424
00:57:09,158 --> 00:57:13,538
Obviously just afternoon sessions in the
snp you can do that if you've got work will
1425
00:57:13,538 --> 00:57:15,668
you got of a commitment
is fine it's no problem.
1426
00:57:16,328 --> 00:57:18,428
Understanding
how I do it okay so.
1427
00:57:18,818 --> 00:57:21,908
I'd only to worrying thing oh my
god I have to do it at this time no.
1428
00:57:22,358 --> 00:57:23,018
Not at all.
1429
00:57:23,348 --> 00:57:27,579
You know there are
occasions sometimes i'm
1430
00:57:27,584 --> 00:57:29,384
running late of got
obviously something on or.
1431
00:57:29,558 --> 00:57:30,558
Very rarely
1432
00:57:30,638 --> 00:57:32,678
buy a has happened
where sometimes of don't.
1433
00:57:33,008 --> 00:57:34,088
Make the open
1434
00:57:34,208 --> 00:57:35,888
then obviously outright
a bit later bought.
1435
00:57:36,218 --> 00:57:38,288
This is an ideal
world I start to.
1436
00:57:39,218 --> 00:57:43,028
Approach my trading day about
our before of been actually be ready.
1437
00:57:43,388 --> 00:57:44,738
So if thus two pm.
1438
00:57:45,158 --> 00:57:45,728
Here
1439
00:57:45,848 --> 00:57:46,478
then.
1440
00:57:46,838 --> 00:57:49,898
Obviously say about one
o'clock in the afternoon UK time.
1441
00:57:50,738 --> 00:57:53,678
For smp and may
be about twelve thirty
1442
00:57:53,918 --> 00:57:55,718
is I would suggest UK time.
1443
00:57:56,228 --> 00:57:57,228
You can start looking.
1444
00:57:57,908 --> 00:58:00,277
To get ready for about
half an hour before
1445
00:58:00,518 --> 00:58:02,858
so about half to have one
o'clock climate thing and then.
1446
00:58:03,608 --> 00:58:05,468
Obviously the
equivalent here would be
1447
00:58:05,588 --> 00:58:06,968
if you're in new York.
1448
00:58:08,228 --> 00:58:12,578
So a thirty so by seven thirty eight
you start doing your prepping cetera.
1449
00:58:13,118 --> 00:58:16,838
And then obviously you can adjust
these by about thirty minutes later
1450
00:58:17,108 --> 00:58:18,108
if you want to.
1451
00:58:18,548 --> 00:58:22,148
Be looking at sep five under loves you
right now as improve are under that much
1452
00:58:22,148 --> 00:58:24,668
better market because like I
said was very volatile bought.
1453
00:58:25,268 --> 00:58:25,958
It will change
1454
00:58:26,228 --> 00:58:27,638
more could change you adopt.
1455
00:58:28,028 --> 00:58:31,597
There'll be again oil will become a
very good market to trade and and.
1456
00:58:31,928 --> 00:58:34,598
Won't be surprised if the happy
and in the very near future so
1457
00:58:35,078 --> 00:58:36,078
and.
1458
00:58:36,908 --> 00:58:39,488
Dunno how much we're going
to be doing of each by at least.
1459
00:58:39,908 --> 00:58:42,909
I can tell you categorically those of
the tube we're going to be focused on.
1460
00:58:43,178 --> 00:58:44,178
So.
1461
00:58:44,228 --> 00:58:47,528
That's the reason why i'm
so focused on those markets
1462
00:58:47,768 --> 00:58:48,768
serie a
1463
00:58:48,908 --> 00:58:51,278
and m b y and look
at those types I hope
1464
00:58:51,488 --> 00:58:53,677
you understand what
took so long to explain that
1465
00:58:54,038 --> 00:58:55,808
and you got real
good feeling now
1466
00:58:56,078 --> 00:58:57,368
when I say to guys.
1467
00:58:57,758 --> 00:58:59,588
All t h sessions about to open.
1468
00:59:00,068 --> 00:59:02,798
Our t h has this
all th is doing that.
1469
00:59:03,158 --> 00:59:04,568
E t h is doing this
1470
00:59:04,688 --> 00:59:06,158
overnight session is doing.
1471
00:59:06,488 --> 00:59:07,508
Has done this.
1472
00:59:08,078 --> 00:59:10,238
So when I say overnight
or basically mean.
1473
00:59:10,628 --> 00:59:11,708
What's been happening
1474
00:59:12,008 --> 00:59:13,008
pre.
1475
00:59:13,298 --> 00:59:14,348
The market open
1476
00:59:14,618 --> 00:59:17,408
to get used to this terminology
some to be using it law.
1477
00:59:18,068 --> 00:59:20,228
But why the important
for profile whoa is
1478
00:59:20,408 --> 00:59:22,358
absolutely crucial.
1479
00:59:23,168 --> 00:59:24,428
Because water is.
1480
00:59:26,708 --> 00:59:27,708
And.
1481
00:59:28,028 --> 00:59:30,128
Every single
professional the I have
1482
00:59:30,278 --> 00:59:31,448
ever worked with
1483
00:59:31,748 --> 00:59:33,218
the I've ever known
1484
00:59:33,338 --> 00:59:34,838
through of a professional rooms.
1485
00:59:35,198 --> 00:59:36,638
The I've observed
1486
00:59:36,848 --> 00:59:37,177
that
1487
00:59:37,328 --> 00:59:37,598
of
1488
00:59:37,778 --> 00:59:40,238
come into sought
some sort contact with.
1489
00:59:40,868 --> 00:59:42,388
This is how they're
looking at profile.
1490
00:59:42,938 --> 00:59:45,908
Boudoir mean by this as in
sorry not market profile b but
1491
00:59:46,208 --> 00:59:47,208
as him.
1492
00:59:47,468 --> 00:59:50,078
In this tiny sorry I should
have a more clear about the.
1493
00:59:50,948 --> 00:59:51,948
Party h.
1494
00:59:52,568 --> 00:59:52,958
Okay
1495
00:59:53,138 --> 00:59:54,138
so.
1496
00:59:54,908 --> 00:59:59,378
Their profile will not be a
twenty four hour profile okay.
1497
00:59:59,708 --> 01:00:02,348
It will only be
regular trading else.
1498
01:00:02,888 --> 01:00:03,888
For the day.
1499
01:00:04,178 --> 01:00:05,178
For the week.
1500
01:00:05,438 --> 01:00:07,598
Most p people are
looking at the for week
1501
01:00:07,928 --> 01:00:09,578
and thus because as be gaps
1502
01:00:09,848 --> 01:00:11,318
I know he gets confusing bar
1503
01:00:11,528 --> 01:00:12,528
look.
1504
01:00:13,148 --> 01:00:16,628
This is something enough to get
used to to me it makes logical sense.
1505
01:00:16,988 --> 01:00:20,768
She doesn't make logical sense to you
know you can always ask me but to me.
1506
01:00:21,578 --> 01:00:22,578
Is logical.
1507
01:00:22,808 --> 01:00:24,398
The obviously for a whole week
1508
01:00:24,548 --> 01:00:27,468
because you got these big gaps
and I'll talk about this a little bit more.
1509
01:00:28,240 --> 01:00:28,478
You
1510
01:00:28,658 --> 01:00:30,818
won't see profile
for the whole week
1511
01:00:31,058 --> 01:00:32,528
all hours during the week.
1512
01:00:33,188 --> 01:00:36,758
But when you're looking at a specific
day a foreperson in the volume.
1513
01:00:37,718 --> 01:00:39,398
Is just taking place in.
1514
01:00:40,148 --> 01:00:41,228
This little zone
1515
01:00:41,348 --> 01:00:42,348
on the day
1516
01:00:42,638 --> 01:00:43,638
and thus why.
1517
01:00:44,078 --> 01:00:47,828
You wanna look at it
from here and honestly
1518
01:00:47,828 --> 01:00:48,872
there's also practical
perspective for that.
1519
01:00:48,896 --> 01:00:49,896
Actually.
1520
01:00:50,216 --> 01:00:52,076
You say he five percent
of the volume right.
1521
01:00:52,946 --> 01:00:53,216
I'm.
1522
01:00:53,846 --> 01:00:55,246
I'm going to show
you the next page.
1523
01:00:55,648 --> 01:00:59,936
Do is let me go to the exciting to make a
lot of sense acacia wood of got here is of
1524
01:00:59,936 --> 01:01:01,406
got all t h.
1525
01:01:02,276 --> 01:01:02,696
Okay.
1526
01:01:03,086 --> 01:01:06,704
Now this is actually crudo but don't worry
doesn't matter what the market this is is
1527
01:01:06,716 --> 01:01:07,716
no the point.
1528
01:01:07,916 --> 01:01:09,026
Of this is iti h
1529
01:01:09,236 --> 01:01:11,516
which is a twenty three hour
as you know that the break
1530
01:01:11,756 --> 01:01:12,926
why this is all th.
1531
01:01:13,556 --> 01:01:14,556
So.
1532
01:01:15,092 --> 01:01:17,636
If this is from six to
five and then this is.
1533
01:01:18,146 --> 01:01:19,376
Just ninety two thirty.
1534
01:01:20,630 --> 01:01:22,166
Look at the different skies.
1535
01:01:23,876 --> 01:01:25,946
It just makes no sense.
1536
01:01:26,378 --> 01:01:29,516
Look how shoot these are
the identical burger look at this.
1537
01:01:31,226 --> 01:01:34,886
NY small profile telling you
eighty five percent him information.
1538
01:01:35,426 --> 01:01:37,556
Right which let's
be honest it's about.
1539
01:01:38,006 --> 01:01:39,836
In terms of space
I mean it's that.
1540
01:01:40,526 --> 01:01:44,214
To get walked ten fifteen percent of extra
information you'll miss having to look at
1541
01:01:44,216 --> 01:01:44,606
doubled
1542
01:01:44,752 --> 01:01:45,752
proof of size.
1543
01:01:45,986 --> 01:01:46,986
Seem possible
1544
01:01:47,186 --> 01:01:48,186
seem possible
1545
01:01:48,356 --> 01:01:50,486
to do any meaningful
analysis on this.
1546
01:01:50,966 --> 01:01:52,256
When you trying to look for.
1547
01:01:53,036 --> 01:01:53,576
Areas of
1548
01:01:53,756 --> 01:01:55,047
lemme lemme prove it to.
1549
01:01:55,766 --> 01:01:57,206
Would you agree balance
1550
01:01:57,476 --> 01:02:00,296
to remember balance in balance
balance imbalance if you don't.
1551
01:02:00,716 --> 01:02:03,386
Go back and remind yourself
of balance and imbalance.
1552
01:02:04,706 --> 01:02:05,756
Right but we got here.
1553
01:02:06,356 --> 01:02:07,376
Cause some balance.
1554
01:02:07,676 --> 01:02:09,416
Market becomes imbalanced.
1555
01:02:10,046 --> 01:02:11,366
And does what achieves.
1556
01:02:11,756 --> 01:02:12,776
Violence here.
1557
01:02:13,976 --> 01:02:15,026
Over two days.
1558
01:02:15,386 --> 01:02:15,656
Right
1559
01:02:15,807 --> 01:02:17,696
what can't even
see that here look.
1560
01:02:18,566 --> 01:02:20,486
Less purest is a mess.
1561
01:02:21,206 --> 01:02:22,406
You know why because look
1562
01:02:22,556 --> 01:02:22,987
this is
1563
01:02:23,155 --> 01:02:23,896
a no comment of
1564
01:02:24,027 --> 01:02:25,796
get profile what it
means obviously.
1565
01:02:26,576 --> 01:02:31,016
But you can see here the a period this will
make sense don't worry I'm in a cover this.
1566
01:02:31,736 --> 01:02:33,806
B c d e f g h I j.
1567
01:02:34,166 --> 01:02:35,166
Essentially.
1568
01:02:35,546 --> 01:02:37,196
Said nice period and look.
1569
01:02:37,586 --> 01:02:39,716
Conceived very nice balance
1570
01:02:39,986 --> 01:02:41,096
and don't forget this is
1571
01:02:41,306 --> 01:02:43,465
almost eighty five ninety
percent of the volume.
1572
01:02:44,287 --> 01:02:46,436
This equivalent
is look look at a.
1573
01:02:47,036 --> 01:02:48,176
Bright I mean you know.
1574
01:02:48,836 --> 01:02:49,836
This is why.
1575
01:02:50,306 --> 01:02:53,576
I think is important for me to show I don't
want you to take my word for are like to
1576
01:02:53,576 --> 01:02:54,576
show you.
1577
01:02:54,866 --> 01:02:55,256
Look.
1578
01:02:55,736 --> 01:02:58,226
At the balance here
can you see it distorts it.
1579
01:02:58,796 --> 01:03:00,213
He got a little bit balance here
1580
01:03:00,315 --> 01:03:01,526
got balance here.
1581
01:03:02,036 --> 01:03:03,111
Other don't even know.
1582
01:03:03,686 --> 01:03:04,976
Was a overnight.
1583
01:03:05,366 --> 01:03:07,376
Is the only the
fifteen percent is
1584
01:03:07,586 --> 01:03:08,066
this the
1585
01:03:08,336 --> 01:03:09,445
fifteen percent.
1586
01:03:10,166 --> 01:03:10,856
To sure to me
1587
01:03:11,066 --> 01:03:12,416
sms basically.
1588
01:03:12,776 --> 01:03:13,776
Thus why.
1589
01:03:14,876 --> 01:03:16,676
I never met a
market professional.
1590
01:03:17,036 --> 01:03:18,596
That combines overnight
1591
01:03:18,746 --> 01:03:19,036
and the
1592
01:03:19,166 --> 01:03:20,636
th e just to make sense
1593
01:03:21,116 --> 01:03:22,116
to combine the two.
1594
01:03:22,976 --> 01:03:26,126
And in fact this is you know I'm going
a little bit off topic here this one of the
1595
01:03:26,127 --> 01:03:27,536
big problems with and.
1596
01:03:28,256 --> 01:03:28,916
Effects
1597
01:03:29,216 --> 01:03:30,216
that isn't.
1598
01:03:30,356 --> 01:03:32,396
So there is no or th.
1599
01:03:32,786 --> 01:03:34,496
It's global and thus why.
1600
01:03:35,786 --> 01:03:38,756
You know potentially you can
use market profile and will look at it
1601
01:03:38,876 --> 01:03:40,406
often got no problem with a bot.
1602
01:03:40,826 --> 01:03:44,121
You can see why I prefer to just
do it by hand when I'm looking at
1603
01:03:44,276 --> 01:03:45,276
effect son.
1604
01:03:45,566 --> 01:03:48,446
Of Shiva something going to
have to come to terms with and.
1605
01:03:48,836 --> 01:03:50,726
Law can help you
develop that may be.
1606
01:03:51,717 --> 01:03:52,316
Bought
1607
01:03:52,616 --> 01:03:54,834
my point is this can you
see why if you call on.
1608
01:03:55,676 --> 01:03:56,336
Build.
1609
01:03:56,666 --> 01:03:57,206
Edge
1610
01:03:57,326 --> 01:03:58,326
using.
1611
01:03:58,856 --> 01:04:02,726
And on t h session we got
a clearly defined pit session.
1612
01:04:03,056 --> 01:04:04,769
With eighty five percent
of volume and an.
1613
01:04:05,276 --> 01:04:07,196
Absolute beautiful.
1614
01:04:07,616 --> 01:04:09,325
Transaction and structure.
1615
01:04:09,986 --> 01:04:13,916
Hyena Dewey in and fx marketplace
that is all over the place in is.
1616
01:04:14,516 --> 01:04:16,136
A new no that is no exaggeration
1617
01:04:16,256 --> 01:04:17,366
days what is happening.
1618
01:04:18,056 --> 01:04:19,616
And is there's no clear.
1619
01:04:20,066 --> 01:04:21,066
Saw of.
1620
01:04:21,146 --> 01:04:23,786
Yet this is regular
trading hours this is so
1621
01:04:23,966 --> 01:04:27,926
let me make my profile only
this section and that meaningful.
1622
01:04:28,316 --> 01:04:29,576
Nice all over the place.
1623
01:04:30,086 --> 01:04:31,086
So.
1624
01:04:31,436 --> 01:04:31,796
You know.
1625
01:04:32,336 --> 01:04:36,806
That was a bit of topic but as a lot of
you look effects and you know a one you to
1626
01:04:36,806 --> 01:04:37,806
try to.
1627
01:04:37,916 --> 01:04:41,246
Approach this with the level of
professionalism and as a business and.
1628
01:04:41,636 --> 01:04:43,116
You going to make
a business decision.
1629
01:04:44,096 --> 01:04:44,426
Desert.
1630
01:04:44,786 --> 01:04:49,436
Transparent marketplace with what
one point seven million contracts.
1631
01:04:50,006 --> 01:04:51,006
There's a clear.
1632
01:04:51,326 --> 01:04:52,736
Regular trading hours.
1633
01:04:53,966 --> 01:04:56,936
Institutions who all involved
they're all looking at this stuff.
1634
01:04:57,506 --> 01:04:58,506
And.
1635
01:04:58,766 --> 01:05:00,626
All the one look at something
1636
01:05:00,866 --> 01:05:03,595
that barely as fifty hundred
thousand contracts don't even have
1637
01:05:03,866 --> 01:05:05,306
regular trading hours he's got.
1638
01:05:05,666 --> 01:05:07,436
A whole bunch of random players.
1639
01:05:07,766 --> 01:05:09,056
Common guys go make.
1640
01:05:09,656 --> 01:05:10,976
A business decision know
1641
01:05:11,276 --> 01:05:11,756
that.
1642
01:05:12,086 --> 01:05:13,086
All right you know what.
1643
01:05:13,474 --> 01:05:15,056
Meant she lie learn how.
1644
01:05:15,386 --> 01:05:17,576
Markets work in a functional
1645
01:05:18,026 --> 01:05:20,906
and open and transparent
marketplace using.
1646
01:05:22,226 --> 01:05:23,226
Proper.
1647
01:05:23,666 --> 01:05:24,666
Data.
1648
01:05:24,808 --> 01:05:27,506
Ordered in certain hours
etc you get the point
1649
01:05:27,746 --> 01:05:29,146
you know the owner
labour the queen.
1650
01:05:29,299 --> 01:05:31,796
On a tree any one like they're
silly on know you get this.
1651
01:05:32,818 --> 01:05:34,826
From and let me try
and be profitable there
1652
01:05:35,126 --> 01:05:37,106
and then I can
transfer that skillset.
1653
01:05:37,976 --> 01:05:38,976
Why am I telling you
1654
01:05:39,062 --> 01:05:40,136
this do you think this is.
1655
01:05:40,766 --> 01:05:42,476
Envies rule number isn't.
1656
01:05:43,016 --> 01:05:46,436
Go to any professional from
they will not let you touch.
1657
01:05:46,916 --> 01:05:47,916
As I said.
1658
01:05:48,056 --> 01:05:48,596
Before.
1659
01:05:48,956 --> 01:05:51,836
Effects for this reasons i'm
just made this saw this is my.
1660
01:05:52,586 --> 01:05:55,346
Firm turned experience
you know is like
1661
01:05:55,616 --> 01:05:58,436
he was a be eye-opening
to me at first and.
1662
01:05:59,546 --> 01:05:59,965
But.
1663
01:06:00,416 --> 01:06:04,196
Is true and you know I mentioned
to you that obviously I worked in
1664
01:06:04,618 --> 01:06:05,096
and
1665
01:06:05,486 --> 01:06:09,356
and interbank environment and I had
tons of experience in effects obviously
1666
01:06:09,836 --> 01:06:13,826
but when I eventually moved on
and obviously I was doing stuff in a.
1667
01:06:14,696 --> 01:06:16,196
Proprietary trading environment.
1668
01:06:17,486 --> 01:06:17,846
You know
1669
01:06:17,966 --> 01:06:20,396
I recognize the stray away so.
1670
01:06:21,026 --> 01:06:23,756
The mature he has you know
of my depth the market stuff.
1671
01:06:24,536 --> 01:06:24,776
It.
1672
01:06:25,196 --> 01:06:27,266
Whilst I did a little
bit of currency and.
1673
01:06:27,716 --> 01:06:31,526
They allowed me to do it obviously
because I had the experience cause.
1674
01:06:32,666 --> 01:06:33,776
The reality is.
1675
01:06:34,436 --> 01:06:38,546
Everyone around me they were doing
s and p five hundred crude oil treasuries
1676
01:06:38,666 --> 01:06:39,086
okay.
1677
01:06:39,626 --> 01:06:40,766
So you know.
1678
01:06:42,267 --> 01:06:45,026
The end of the day unless you've
worked on and interbank desk
1679
01:06:45,416 --> 01:06:45,956
and.
1680
01:06:46,376 --> 01:06:49,646
For several years when
you went to provision
1681
01:06:49,646 --> 01:06:50,006
one this is normally
you go near near order.
1682
01:06:50,306 --> 01:06:53,786
Stuff and logically i'm
sure you'd agree with
1683
01:06:53,786 --> 01:06:54,086
them does make sense
they want you to have.
1684
01:06:54,716 --> 01:06:58,496
A maximum chance of success thus
why they get into on these markets.
1685
01:06:59,726 --> 01:07:00,726
Rt age.
1686
01:07:01,346 --> 01:07:01,676
Okay.
1687
01:07:02,006 --> 01:07:05,726
Thus the profile you need to be
using lurker this is all over the place.
1688
01:07:06,206 --> 01:07:07,286
You know let's just looker.
1689
01:07:07,856 --> 01:07:08,856
I.
1690
01:07:09,776 --> 01:07:12,116
These to me just
looks like one whole
1691
01:07:12,236 --> 01:07:13,376
balance mush.
1692
01:07:13,916 --> 01:07:14,216
Right.
1693
01:07:14,516 --> 01:07:16,406
More is here I can actually star
1694
01:07:16,856 --> 01:07:18,236
to build opportunity.
1695
01:07:18,656 --> 01:07:19,656
Look you've got
1696
01:07:19,917 --> 01:07:21,926
and we're going to
we're going to do this
1697
01:07:22,136 --> 01:07:24,536
pluck I said what we
build context to areas.
1698
01:07:25,316 --> 01:07:29,606
Is you've got nice be of balance here
and then the market comes out of it a nook.
1699
01:07:30,146 --> 01:07:31,256
Trading opportunity.
1700
01:07:31,586 --> 01:07:32,846
Then what happens next day.
1701
01:07:33,956 --> 01:07:34,463
You've got.
1702
01:07:34,766 --> 01:07:38,336
Balance edge here you've got
balance edge here and equipment.
1703
01:07:39,026 --> 01:07:42,266
Market build up and he goes up
to where the other side of balance.
1704
01:07:42,717 --> 01:07:43,717
The look.
1705
01:07:44,066 --> 01:07:45,896
Good balance here the market.
1706
01:07:46,436 --> 01:07:49,256
Actually opens out of
balance comes in rejects it.
1707
01:07:49,876 --> 01:07:50,122
The
1708
01:07:50,246 --> 01:07:51,116
imbalance
1709
01:07:51,236 --> 01:07:51,596
okay
1710
01:07:51,806 --> 01:07:54,716
what happens here overnight
you get this little move down.
1711
01:07:55,196 --> 01:07:56,196
Right which.
1712
01:07:56,696 --> 01:07:57,696
We see.
1713
01:07:57,776 --> 01:07:58,916
He are essentially.
1714
01:07:59,456 --> 01:08:00,086
And
1715
01:08:00,236 --> 01:08:01,046
then
1716
01:08:01,166 --> 01:08:02,166
or sorry.
1717
01:08:02,906 --> 01:08:03,356
Here
1718
01:08:03,776 --> 01:08:04,376
and
1719
01:08:04,496 --> 01:08:06,865
then in fact novel
sra is this one.
1720
01:08:07,796 --> 01:08:10,136
You see a gap
down and essentially
1721
01:08:10,406 --> 01:08:11,406
what happens is.
1722
01:08:12,026 --> 01:08:13,616
You open outside
1723
01:08:13,856 --> 01:08:16,136
there's a gap and the
market tries to fill the gap.
1724
01:08:16,526 --> 01:08:20,246
Then what happens here is you
open up here we come we test value
1725
01:08:20,696 --> 01:08:21,356
and that gives US.
1726
01:08:21,713 --> 01:08:23,966
A rejection and that
operates unity to go up.
1727
01:08:24,506 --> 01:08:27,776
Look at the end of the day don't worry
about any this stuff have been showing you
1728
01:08:27,902 --> 01:08:29,636
I'm going to
cover this in-depth.
1729
01:08:29,936 --> 01:08:31,766
In the building
trading opportunities.
1730
01:08:32,666 --> 01:08:33,026
Ba.
1731
01:08:33,416 --> 01:08:35,546
Try building while
I just showed you.
1732
01:08:36,116 --> 01:08:37,116
Hear.
1733
01:08:37,316 --> 01:08:39,056
Very very difficult.
1734
01:08:39,416 --> 01:08:39,896
Life
1735
01:08:40,106 --> 01:08:42,206
is fair be very difficult he is.
1736
01:08:42,836 --> 01:08:44,756
To me me this
just looks like one.
1737
01:08:45,416 --> 01:08:46,416
Big wall.
1738
01:08:46,616 --> 01:08:47,726
Balanced area.
1739
01:08:48,926 --> 01:08:51,746
How will you going to find
training opportunities in there is no
1740
01:08:52,196 --> 01:08:53,196
and though.
1741
01:08:54,268 --> 01:08:58,076
Is why all th is so
powerful incredibly powerful
1742
01:08:58,556 --> 01:08:59,185
and boy
1743
01:08:59,427 --> 01:09:01,136
lot of people who
know me well known.
1744
01:09:01,766 --> 01:09:04,886
Yeah I do effects and
okay I'm very good at effects
1745
01:09:05,006 --> 01:09:06,486
and I mean the in
the most humble way.
1746
01:09:06,956 --> 01:09:07,956
I am I know
1747
01:09:08,096 --> 01:09:09,096
this result show it.
1748
01:09:09,506 --> 01:09:10,506
I'm going to be honest.
1749
01:09:10,766 --> 01:09:12,176
I do trade effects very well.
1750
01:09:12,776 --> 01:09:15,986
But this makes up nine
he percent of why do why.
1751
01:09:16,526 --> 01:09:19,406
For this very reason even
me as an experienced trader.
1752
01:09:20,246 --> 01:09:21,956
You know I'm using rt age
1753
01:09:22,286 --> 01:09:25,436
and on trade him the most
liquid markets in the world okay
1754
01:09:25,706 --> 01:09:26,936
you don't need to.
1755
01:09:27,506 --> 01:09:29,636
And you're taking
unnecessary risk.
1756
01:09:30,086 --> 01:09:31,286
In my opinion and I
1757
01:09:31,466 --> 01:09:32,126
hope you can see our
1758
01:09:32,396 --> 01:09:32,606
up
1759
01:09:32,816 --> 01:09:39,206
so thus all th versus e t h let's just go
back to the previous slide and essentially
1760
01:09:39,206 --> 01:09:40,856
just make sure that
everything's covered.
1761
01:09:41,396 --> 01:09:42,866
So yet we've covered the.
1762
01:09:43,346 --> 01:09:47,186
Hours which should make sense to
you now are just thinking about pincers.
1763
01:09:47,696 --> 01:09:50,216
So we've come the hours
which should make sense to now.
1764
01:09:50,576 --> 01:09:51,576
In both.
1765
01:09:51,626 --> 01:09:53,396
Crudo and sp five hundred
1766
01:09:53,846 --> 01:09:58,556
and with covered obviously the liquidity in
each and them we've basically covered why.
1767
01:09:59,606 --> 01:10:00,606
We're looking at
1768
01:10:00,686 --> 01:10:03,266
slightly smaller
profiles because.
1769
01:10:04,526 --> 01:10:06,296
They're incredibly
powerful and obviously.
1770
01:10:06,626 --> 01:10:07,136
Thus were
1771
01:10:07,256 --> 01:10:10,586
basically the pit volume isn't
that where everyone's been trading
1772
01:10:10,946 --> 01:10:13,886
and a allows US
to create really nice
1773
01:10:14,366 --> 01:10:15,366
and.
1774
01:10:16,196 --> 01:10:17,006
Information
1775
01:10:17,156 --> 01:10:17,726
about
1776
01:10:17,846 --> 01:10:19,676
transactions in a balanced way.
1777
01:10:20,846 --> 01:10:22,466
The soft bell
shaped curve right.
1778
01:10:22,976 --> 01:10:27,296
Which I showed you know he does come back
law as well to normal distributions and.
1779
01:10:27,626 --> 01:10:30,506
Being able to identify
balance in a nice way.
1780
01:10:30,896 --> 01:10:34,976
What happens when
you pull the overnight day
1781
01:10:34,976 --> 01:10:35,216
to of you saw it I showed
you a distorts here
1782
01:10:35,696 --> 01:10:37,856
and I forgot to mention
that in the last post bar.
1783
01:10:38,186 --> 01:10:40,496
You not only get too
heavy on the maths spot
1784
01:10:40,736 --> 01:10:41,736
the ayala easy
1785
01:10:41,773 --> 01:10:44,336
a lot of a also
institutions realize.
1786
01:10:44,906 --> 01:10:46,226
Is you can build
1787
01:10:46,466 --> 01:10:49,103
these nice is called a
caution shaped by is.
1788
01:10:49,447 --> 01:10:51,146
Shape essentially
and I showed you that.
1789
01:10:51,746 --> 01:10:54,746
That the mathematics
works beautifully when.
1790
01:10:55,136 --> 01:10:57,296
For for and soil
should be striper.
1791
01:10:57,956 --> 01:10:58,406
I.
1792
01:10:58,736 --> 01:11:00,926
Worked beautifully when
what we have similar.
1793
01:11:01,722 --> 01:11:03,192
Right either side is caught.
1794
01:11:03,762 --> 01:11:04,422
The most
1795
01:11:04,632 --> 01:11:05,632
and.
1796
01:11:06,372 --> 01:11:09,942
Useful mathematical
properties in terms of.
1797
01:11:10,302 --> 01:11:12,882
You know defining
nice value areas when.
1798
01:11:13,392 --> 01:11:16,992
And this section and this
section is obviously nicely
1799
01:11:17,142 --> 01:11:18,142
balanced.
1800
01:11:18,252 --> 01:11:19,252
Make sense right
1801
01:11:19,302 --> 01:11:20,682
when identify balance.
1802
01:11:21,012 --> 01:11:24,702
Where his balance and identify
of the standard deviations.
1803
01:11:25,872 --> 01:11:27,912
When things are balanced
and the happens when.
1804
01:11:28,272 --> 01:11:30,852
He got regular trading
hours are you most of all you
1805
01:11:31,152 --> 01:11:34,602
when you start introducing
e t h entities as you saw.
1806
01:11:35,262 --> 01:11:35,472
It
1807
01:11:35,612 --> 01:11:35,869
it
1808
01:11:36,072 --> 01:11:36,911
distorts the
1809
01:11:37,032 --> 01:11:37,152
and
1810
01:11:37,360 --> 01:11:39,912
a kind of causes this
to go out of shape and.
1811
01:11:40,302 --> 01:11:41,302
As you saw he can.
1812
01:11:41,682 --> 01:11:42,971
Bring extra humps and.
1813
01:11:43,632 --> 01:11:44,742
Mathematically
1814
01:11:44,892 --> 01:11:48,252
are only get into the mouth with done
enough marks by can cause problems.
1815
01:11:48,702 --> 01:11:52,242
Because as you can see when you
start getting distorted distributions.
1816
01:11:53,533 --> 01:11:54,533
And.
1817
01:11:55,272 --> 01:11:57,852
Sorry just give me a second cause
I wanna make sure my pennies.
1818
01:11:59,026 --> 01:12:02,232
We shall gain is distorted
distributions as you going to see it.
1819
01:12:02,862 --> 01:12:06,192
Is very difficult for
normal distribution
1820
01:12:06,642 --> 01:12:07,212
and
1821
01:12:07,362 --> 01:12:09,612
for the statistics to
make sense it doesn't.
1822
01:12:10,272 --> 01:12:14,832
Because like I said it's not evenly
distributed what actually happens is you get.
1823
01:12:15,462 --> 01:12:18,582
Star game balance in two
places you get balance here yet.
1824
01:12:19,362 --> 01:12:20,362
Balance here.
1825
01:12:21,702 --> 01:12:22,092
Okay
1826
01:12:22,332 --> 01:12:23,502
and thus because.
1827
01:12:24,882 --> 01:12:28,482
The outcomes they're not
evenly distributed which means.
1828
01:12:28,872 --> 01:12:29,292
That.
1829
01:12:29,682 --> 01:12:30,013
You know
1830
01:12:30,252 --> 01:12:33,972
again I won't hesitate to get into the maps
to your much for obviously when you do the.
1831
01:12:34,482 --> 01:12:34,989
And the.
1832
01:12:35,322 --> 01:12:39,402
Sums that I told you
about when you take the
1833
01:12:39,402 --> 01:12:39,671
average variances in
the square root them.
1834
01:12:40,058 --> 01:12:42,132
The properties that make them.
1835
01:12:43,452 --> 01:12:47,472
Saw of standardized being able to
compare from one profile to another.
1836
01:12:47,922 --> 01:12:50,565
Is no longer make sense
is not applicable and.
1837
01:12:51,402 --> 01:12:54,492
You know is basically that
what happens is with this.
1838
01:12:56,198 --> 01:12:59,142
And the don't worry about cover
this again I know some of you will be.
1839
01:12:59,802 --> 01:13:03,102
Potentially I dunno maybe you won't be
but some of you be thinking what Warner of
1840
01:13:03,265 --> 01:13:04,932
be going on about
the maps here but.
1841
01:13:05,954 --> 01:13:06,222
Do.
1842
01:13:06,792 --> 01:13:09,072
It I'll be honest vs
important you at least.
1843
01:13:10,512 --> 01:13:12,132
Ever so slightly cross this
1844
01:13:12,582 --> 01:13:14,201
and I'll tell you why
in a second but.
1845
01:13:14,592 --> 01:13:18,222
Show when you have a normal distribution
as evenly distributed the properties
1846
01:13:18,522 --> 01:13:19,522
allow.
1847
01:13:19,722 --> 01:13:21,582
For the seventy percent area.
1848
01:13:21,972 --> 01:13:24,972
In terms of standard
deviation to a be balanced
1849
01:13:25,152 --> 01:13:28,662
and make sense from a statistical
perspective there rigorous.
1850
01:13:29,292 --> 01:13:30,432
But also
1851
01:13:30,552 --> 01:13:31,872
they make them comparable
1852
01:13:32,022 --> 01:13:33,852
when you have these distortions.
1853
01:13:34,517 --> 01:13:35,742
Which means that
1854
01:13:35,982 --> 01:13:38,862
the outcomes are not even
the distribute unfortunately.
1855
01:13:39,433 --> 01:13:42,042
And the way that
it calculates it.
1856
01:13:42,792 --> 01:13:47,172
It no longer make sense because it's
not giving you balanced value areas
1857
01:13:47,442 --> 01:13:49,152
what will happen
is you will have.
1858
01:13:49,542 --> 01:13:50,592
These will shift.
1859
01:13:52,332 --> 01:13:55,272
And they'll almost try
basically what it will try and do
1860
01:13:55,392 --> 01:13:58,422
is it will try and he calculated
almost as if it's like that.
1861
01:13:59,022 --> 01:14:01,152
So what happens is
you can have these.
1862
01:14:01,812 --> 01:14:03,772
Value areas looking like the.
1863
01:14:04,452 --> 01:14:04,872
Dry
1864
01:14:05,022 --> 01:14:06,312
do see what I mean it doesn't
1865
01:14:06,462 --> 01:14:07,462
is not balanced.
1866
01:14:08,322 --> 01:14:10,122
Cause actually if
you think about it.
1867
01:14:12,222 --> 01:14:13,632
Most of the market done here.
1868
01:14:14,532 --> 01:14:15,072
It's
1869
01:14:15,192 --> 01:14:18,222
sorry and I know of drawn it
like that should actually be.
1870
01:14:19,422 --> 01:14:20,422
Like that isn't it.
1871
01:14:22,123 --> 01:14:22,872
She you've got to
1872
01:14:23,082 --> 01:14:26,022
was actually happened
as its balance imbalance
1873
01:14:26,142 --> 01:14:27,142
and then balance
1874
01:14:27,372 --> 01:14:28,372
but you're trying to.
1875
01:14:28,752 --> 01:14:32,022
Say diet ballad you see
it doesn't work and thus
1876
01:14:32,203 --> 01:14:32,382
the.
1877
01:14:33,042 --> 01:14:35,766
Statistics for the pa
unfortunately and.
1878
01:14:36,792 --> 01:14:39,732
Thus one of the reasons I used composite
so we're going to come back to that most
1879
01:14:39,732 --> 01:14:42,462
important I said that because
this one the reasons why.
1880
01:14:43,032 --> 01:14:47,352
I use market pro fallen will get
onto that buys because the statistics.
1881
01:14:48,072 --> 01:14:51,012
And falls apart so maybe
I'll have recovered at bar
1882
01:14:51,312 --> 01:14:55,062
a thing essentially what we've done is we've
covered enough hopefully you understand.
1883
01:14:55,512 --> 01:14:58,932
Now why I had to speak so
much about it and why we're using.
1884
01:14:59,958 --> 01:15:03,822
Regular trading hours because I don't want
anyone going away thinking on she can use
1885
01:15:03,822 --> 01:15:04,602
all th present
1886
01:15:04,722 --> 01:15:05,722
told me to no.
1887
01:15:06,192 --> 01:15:07,242
One you to know
1888
01:15:07,482 --> 01:15:09,372
there's a rigorous reasons.
1889
01:15:09,762 --> 01:15:11,592
Very logical reasons why.
1890
01:15:12,252 --> 01:15:16,224
We use our t h and obviously alter
the problems as I said with effects on.
1891
01:15:16,572 --> 01:15:19,812
Mentioning that cause I know many of you
trade effects and I'm trying to make you.
1892
01:15:20,382 --> 01:15:22,218
I'm trying to give you
the other side of the coin
1893
01:15:22,242 --> 01:15:23,952
because you I know you get fed
1894
01:15:24,222 --> 01:15:26,622
know be don't mind me
saying is a lot of crap.
1895
01:15:27,012 --> 01:15:28,242
Why about effects and.
1896
01:15:28,602 --> 01:15:29,802
I hope you can now look at it.
1897
01:15:30,492 --> 01:15:31,542
Even without me.
1898
01:15:31,877 --> 01:15:32,877
Look at it
1899
01:15:32,982 --> 01:15:33,982
and.
1900
01:15:34,540 --> 01:15:35,022
Know from
1901
01:15:35,322 --> 01:15:36,012
to saw of
1902
01:15:36,132 --> 01:15:39,012
independent perspective
take the evidence of given you
1903
01:15:39,312 --> 01:15:42,513
a make your own mind for yourself and
hopefully you can reach the same conclusion
1904
01:15:42,605 --> 01:15:42,717
I.
1905
01:15:43,133 --> 01:15:44,133
Don't make sense.
1906
01:15:44,652 --> 01:15:48,192
What am I doing why am I even looking at
this stuff that has not transparent that has
1907
01:15:48,192 --> 01:15:49,192
low trading hours.
1908
01:15:49,512 --> 01:15:52,212
When there's these
amazing markets out there.
1909
01:15:52,902 --> 01:15:57,192
The okay I don't necessarily need to
start trading stray away by least let me.
1910
01:15:57,792 --> 01:15:58,542
Attempt
1911
01:15:58,692 --> 01:16:02,502
on the simulator to get profitable
on or maybe I can learn stuff.
1912
01:16:02,892 --> 01:16:06,282
The are can then apply to other markets
if that's what you still want to do.
1913
01:16:06,732 --> 01:16:08,562
Or at a whoa do his will do.
1914
01:16:09,072 --> 01:16:13,302
And I'm going to
trauma best very quickly
1915
01:16:13,302 --> 01:16:13,812
finish off to some of
the market profile theory
1916
01:16:14,205 --> 01:16:16,872
and then we'll see
where a okay so.
1917
01:16:17,442 --> 01:16:18,883
I know I said we're
going to look at.
1918
01:16:19,062 --> 01:16:22,422
Market profile and the
individual characteristics for.
1919
01:16:22,782 --> 01:16:26,412
She might be wondering what am I doing here
but as you don't let do things thoroughly.
1920
01:16:27,192 --> 01:16:30,638
Less of a look at why why am
actually looking at market profile.
1921
01:16:31,092 --> 01:16:32,092
Offing is important.
1922
01:16:32,472 --> 01:16:35,202
That we establish that because
like I said you might be wondering
1923
01:16:35,352 --> 01:16:38,352
gone we got this thing volume profile
was had US on the depth of the market.
1924
01:16:38,952 --> 01:16:41,021
While why we've been
looking at market pro of.
1925
01:16:42,042 --> 01:16:44,562
Okay so what it is is and.
1926
01:16:45,552 --> 01:16:49,182
As always developing obviously luck
I said and I got this understanding of
1927
01:16:49,572 --> 01:16:53,112
to remember how I said all of these
things can be combined and this is.
1928
01:16:53,472 --> 01:16:55,512
Almost about the
depth of market split out.
1929
01:16:56,622 --> 01:16:58,752
I think maybe was because of my.
1930
01:16:59,832 --> 01:17:00,832
Depth of market.
1931
01:17:01,152 --> 01:17:02,152
The.
1932
01:17:02,232 --> 01:17:03,232
Of she time.
1933
01:17:03,732 --> 01:17:05,292
In a year spent on that thing.
1934
01:17:06,072 --> 01:17:07,474
That I did get me thinking.
1935
01:17:07,962 --> 01:17:11,622
What you see as and if I get a
chance of got some training videos.
1936
01:17:12,288 --> 01:17:12,680
Of.
1937
01:17:13,063 --> 01:17:16,632
Been one of the best prop firms in the
world the not around any more about.
1938
01:17:17,322 --> 01:17:19,422
They've produced some
unbelievable traders and.
1939
01:17:19,812 --> 01:17:20,320
I
1940
01:17:20,562 --> 01:17:24,644
have got some training
videos or new see and
1941
01:17:24,644 --> 01:17:24,882
I'm going to show you
them hopefully or my
1942
01:17:25,092 --> 01:17:27,612
forget a chance I don't know
how quickly of able to do it but.
1943
01:17:28,062 --> 01:17:30,432
I will at some stage
definitely add them in
1944
01:17:30,912 --> 01:17:32,052
to the pro section
1945
01:17:32,232 --> 01:17:35,622
and I wanna show you how they
look at profile when is how I was taught.
1946
01:17:36,552 --> 01:17:36,912
To look
1947
01:17:37,032 --> 01:17:38,982
provides what they do is.
1948
01:17:39,822 --> 01:17:43,662
They'll look at profile on a weekly basis
and a daily basis of to be fair on them.
1949
01:17:44,472 --> 01:17:47,502
They look at profile on a
day to day basis like this.
1950
01:17:48,313 --> 01:17:49,452
Exactly as you see here.
1951
01:17:50,022 --> 01:17:53,502
And to these a day periods
on and all t h faces a cake.
1952
01:17:53,862 --> 01:17:57,882
So as I said everyone's looking on t h
so no smaller claim that to naughty age
1953
01:17:57,883 --> 01:17:58,924
they're all looking at it.
1954
01:17:59,142 --> 01:18:01,122
Fine I'm not doing
anything different.
1955
01:18:01,662 --> 01:18:04,182
I bought one know east was.
1956
01:18:04,992 --> 01:18:06,552
You see how this is Monday
1957
01:18:06,762 --> 01:18:07,403
said this is
1958
01:18:07,542 --> 01:18:11,231
cruder by the way this is the current
contract I thought you know or Robin show you
1959
01:18:11,234 --> 01:18:13,212
pictures let me just
show your my job easier.
1960
01:18:14,412 --> 01:18:15,412
You can see.
1961
01:18:15,522 --> 01:18:17,472
This is Monday and in fact.
1962
01:18:18,372 --> 01:18:19,992
He just go straight line.
1963
01:18:20,442 --> 01:18:21,160
See fucking
1964
01:18:21,282 --> 01:18:22,282
do this.
1965
01:18:23,052 --> 01:18:24,282
See that Monday.
1966
01:18:24,642 --> 01:18:25,122
Whoops
1967
01:18:25,422 --> 01:18:27,222
than a weapon that
surrey apologize.
1968
01:18:27,794 --> 01:18:29,922
She can be a second
of not use this before.
1969
01:18:34,152 --> 01:18:36,042
Yeah a case of thus Monday.
1970
01:18:37,152 --> 01:18:38,152
And.
1971
01:18:38,952 --> 01:18:39,952
Thus Friday.
1972
01:18:43,902 --> 01:18:44,902
Why.
1973
01:18:45,432 --> 01:18:48,012
And then similarly here
obviously thus Monday.
1974
01:18:50,172 --> 01:18:51,912
And then does.
1975
01:18:52,512 --> 01:18:53,512
Friday.
1976
01:18:55,452 --> 01:18:56,452
Okay.
1977
01:18:57,402 --> 01:19:00,972
Now we'll get into this later
where we start thinking about.
1978
01:19:01,692 --> 01:19:06,402
Because will you can remember and something
that of kind of hinted and German by laid
1979
01:19:06,402 --> 01:19:07,032
the seeds.
1980
01:19:07,392 --> 01:19:09,612
In neutral market theory
section where I said.
1981
01:19:10,182 --> 01:19:12,012
Sure willing good this being.
1982
01:19:12,702 --> 01:19:14,622
A balance molecule in this day
1983
01:19:15,012 --> 01:19:16,012
and.
1984
01:19:16,361 --> 01:19:18,342
And that you can see
the little value areas.
1985
01:19:19,122 --> 01:19:22,577
By the way these little things if you zoom
in you can see them said these are just
1986
01:19:22,577 --> 01:19:25,182
devalues which I talked about
the normal distribution section.
1987
01:19:25,962 --> 01:19:26,962
And.
1988
01:19:27,912 --> 01:19:29,382
Sorry let me just
get rid of this.
1989
01:19:31,092 --> 01:19:32,202
He shall whirling good
1990
01:19:32,322 --> 01:19:33,972
and you can see
these are just little dose
1991
01:19:34,122 --> 01:19:34,362
right
1992
01:19:34,602 --> 01:19:35,602
depth of market by.
1993
01:19:36,282 --> 01:19:40,122
So you can see them these are just devalue
areas sir no longer do we have to guess is
1994
01:19:40,122 --> 01:19:40,572
one point.
1995
01:19:41,112 --> 01:19:42,132
We've got them they're.
1996
01:19:42,972 --> 01:19:43,212
Gone
1997
01:19:43,512 --> 01:19:44,512
they're gone
1998
01:19:44,682 --> 01:19:45,682
they're.
1999
01:19:46,092 --> 01:19:46,272
Okay
2000
01:19:46,512 --> 01:19:47,532
you got it they're.
2001
01:19:48,312 --> 01:19:49,662
They're marked for US.
2002
01:19:51,552 --> 01:19:51,882
Okay.
2003
01:19:52,362 --> 01:19:53,892
The software's just marking walk
2004
01:19:54,012 --> 01:19:55,012
to remember.
2005
01:19:55,452 --> 01:19:56,862
Seventy percent for I.
2006
01:19:57,522 --> 01:19:58,541
Saw him a Pentagon or
2007
01:19:58,722 --> 01:19:59,722
but funny.
2008
01:20:00,912 --> 01:20:01,912
Think of beef.
2009
01:20:02,022 --> 01:20:05,039
Writing so much it may have
actually gone blunt with US or
2010
01:20:05,265 --> 01:20:06,642
soda in the next section.
2011
01:20:07,302 --> 01:20:09,312
Political is very
unprofessional for me too.
2012
01:20:11,322 --> 01:20:13,062
Talk openly about this bot.
2013
01:20:14,412 --> 01:20:17,352
That is what it is the
pen has decided to.
2014
01:20:18,672 --> 01:20:21,942
Even the pens getting tired of hearing
me talk though is called blunt but.
2015
01:20:22,272 --> 01:20:24,702
Anyway so where was I said these
2016
01:20:24,912 --> 01:20:27,462
my point is anyone coming
back to all seriousness.
2017
01:20:27,912 --> 01:20:28,272
Is
2018
01:20:28,422 --> 01:20:29,502
this is just from.
2019
01:20:29,802 --> 01:20:31,452
One invest the perspective
2020
01:20:31,632 --> 01:20:33,641
someone who's looking
at a short timeframe.
2021
01:20:34,032 --> 01:20:35,032
Low cause
2022
01:20:35,112 --> 01:20:36,112
people who are in.
2023
01:20:36,642 --> 01:20:39,972
Investing on the shore horizon
and wigan took a lot more about this.
2024
01:20:40,752 --> 01:20:41,922
Is too much if I just
2025
01:20:42,042 --> 01:20:42,611
throw
2026
01:20:42,822 --> 01:20:45,072
ten different perspectives
of value at you.
2027
01:20:46,002 --> 01:20:48,792
And bice important I
mentioned here so initially.
2028
01:20:49,272 --> 01:20:51,282
Or will get you
developing strategy on.
2029
01:20:51,583 --> 01:20:55,122
Looking up only one or two lenses
when I introduced the v weapon.
2030
01:20:55,572 --> 01:20:58,062
In in short succession
of the day spa.
2031
01:20:58,752 --> 01:21:02,112
The reason of dimension this is
because when I was taught to them.
2032
01:21:03,830 --> 01:21:06,897
I mean I was taught theory
obviously I was shown profile in the.
2033
01:21:07,368 --> 01:21:09,234
The depth of
market early on but.
2034
01:21:09,594 --> 01:21:13,194
Even later on when I the training
in a proprietary trading firm.
2035
01:21:14,007 --> 01:21:17,634
And even though I continue to obviously
spend a lot of time in depth of market so
2036
01:21:17,934 --> 01:21:20,424
I wasn't that interested
at that time but the theory.
2037
01:21:20,844 --> 01:21:22,794
I always remembered
the theory of was tall.
2038
01:21:23,484 --> 01:21:25,464
And dot was that
they would say oh
2039
01:21:25,764 --> 01:21:26,873
you know you could look at.
2040
01:21:27,775 --> 01:21:31,192
Weekly profile daily
profile monthly profile.
2041
01:21:31,674 --> 01:21:34,494
Quarterly profile a
new see I do do that.
2042
01:21:35,544 --> 01:21:37,974
But what occurred to me
was hang on have any.
2043
01:21:38,484 --> 01:21:40,614
So when I saw the when
I'm getting to the point.
2044
01:21:42,512 --> 01:21:45,384
Remember I said to her
really all of these are just.
2045
01:21:46,764 --> 01:21:48,924
Extracted out of
something on this site.
2046
01:21:49,614 --> 01:21:53,484
What does who shall going on when you do
a weekly profile which what are you doing
2047
01:21:53,544 --> 01:21:55,014
what is a weekly profile.
2048
01:21:55,554 --> 01:21:57,654
Is trustees five profiles.
2049
01:21:58,344 --> 01:21:58,794
What
2050
01:21:59,004 --> 01:22:00,004
combined
2051
01:22:00,174 --> 01:22:00,534
look.
2052
01:22:01,014 --> 01:22:02,304
There's no volume here
2053
01:22:02,724 --> 01:22:04,674
and then you have big
chunk of volume here.
2054
01:22:05,304 --> 01:22:06,354
Thus the profile.
2055
01:22:06,834 --> 01:22:07,834
Right.
2056
01:22:07,944 --> 01:22:09,954
To distributions
both on one day.
2057
01:22:10,374 --> 01:22:11,374
Now look here.
2058
01:22:12,024 --> 01:22:14,334
Was this she got bit volume
he had been volume here.
2059
01:22:15,144 --> 01:22:16,144
She got volume
2060
01:22:16,254 --> 01:22:17,904
than what very little and then
2061
01:22:18,174 --> 01:22:18,684
that limp
2062
01:22:18,834 --> 01:22:19,434
second xi
2063
01:22:19,614 --> 01:22:20,974
all you've done
here is you've just
2064
01:22:21,114 --> 01:22:22,464
pulled out trunks of here
2065
01:22:22,764 --> 01:22:24,384
and if pulled these
chunks how here
2066
01:22:24,774 --> 01:22:25,404
and then he
2067
01:22:25,516 --> 01:22:27,024
pulled this trunk out here if.
2068
01:22:27,382 --> 01:22:28,734
You pulled his trunk her here
2069
01:22:29,124 --> 01:22:31,156
and then similarly
we haven't actually I.
2070
01:22:31,704 --> 01:22:33,058
Think it might have got down to.
2071
01:22:33,744 --> 01:22:34,794
Just leave that for now
2072
01:22:35,274 --> 01:22:36,114
but you see
2073
01:22:36,236 --> 01:22:37,236
was happening.
2074
01:22:37,974 --> 01:22:39,954
Certain I just never
sat well with me.
2075
01:22:40,848 --> 01:22:43,434
I think it's useful and I'll
show you why to look at a.
2076
01:22:44,394 --> 01:22:44,844
Bar
2077
01:22:45,024 --> 01:22:47,664
brought started occurring
to me was tangled a minute.
2078
01:22:49,104 --> 01:22:50,154
That doesn't me and
2079
01:22:50,304 --> 01:22:54,054
I couldn't believe the I'd never go in
that no one ever said this to me before
2080
01:22:54,354 --> 01:22:57,414
and hands up on no saying
I'm the only person looking at it.
2081
01:22:57,894 --> 01:23:01,404
Cause some one are be
units of you an amazing trader.
2082
01:23:01,914 --> 01:23:04,247
Helped me to develop this idea.
2083
01:23:04,794 --> 01:23:08,064
Using market profile and this is why
I'm telling you this because you need to
2084
01:23:08,064 --> 01:23:09,664
understand why we
use the market profile.
2085
01:23:10,899 --> 01:23:11,899
Is cause.
2086
01:23:12,800 --> 01:23:14,454
And and maybe he was.
2087
01:23:14,784 --> 01:23:16,794
I mean he was doing this
or maybe because I've.
2088
01:23:17,124 --> 01:23:19,554
Also looked at as he
was thinking July walk.
2089
01:23:20,274 --> 01:23:21,274
Let me.
2090
01:23:21,713 --> 01:23:24,384
Help the sky out take him
under my wing or whatever.
2091
01:23:24,834 --> 01:23:27,804
So I was very fortunate to meet this
guy because he helped me develop this.
2092
01:23:28,254 --> 01:23:29,254
Idea.
2093
01:23:29,634 --> 01:23:31,254
When I initially was trying to.
2094
01:23:31,614 --> 01:23:34,134
Get someone to help me
see why is this happening.
2095
01:23:34,614 --> 01:23:35,064
So
2096
01:23:35,184 --> 01:23:36,184
anyway to the point
2097
01:23:36,324 --> 01:23:36,864
so
2098
01:23:37,014 --> 01:23:38,899
this balance of this butter try.
2099
01:23:39,444 --> 01:23:40,444
Has a hang on the many.
2100
01:23:41,154 --> 01:23:42,804
That is balance there.
2101
01:23:43,284 --> 01:23:44,454
On those two days.
2102
01:23:44,814 --> 01:23:46,254
Then we go imbalance.
2103
01:23:46,915 --> 01:23:47,915
Or balance here.
2104
01:23:48,444 --> 01:23:49,464
Across three days.
2105
01:23:49,974 --> 01:23:51,024
He come down the market
2106
01:23:51,144 --> 01:23:52,144
imbalanced.
2107
01:23:53,185 --> 01:23:56,364
What you call trending I don't care if you
call it trend doesn't Myers ones you make
2108
01:23:56,364 --> 01:23:57,364
money out of it
2109
01:23:57,504 --> 01:24:00,804
but as I said it's not trendy is
looking for value bot is imbalanced.
2110
01:24:01,826 --> 01:24:02,064
And
2111
01:24:02,364 --> 01:24:03,364
then it does was.
2112
01:24:03,504 --> 01:24:04,254
Balanced
2113
01:24:04,494 --> 01:24:06,474
to hang on a minute
why am I looking at.
2114
01:24:07,613 --> 01:24:09,564
The value area for one.
2115
01:24:10,464 --> 01:24:11,273
Profile
2116
01:24:11,394 --> 01:24:13,944
basically why am I
merging was the week.
2117
01:24:14,394 --> 01:24:17,424
Merging or can you see you
Monday to Friday is kind of arbitrary.
2118
01:24:17,964 --> 01:24:19,644
Same here was balance.
2119
01:24:20,064 --> 01:24:21,954
For actually I want to combine.
2120
01:24:22,584 --> 01:24:23,584
These.
2121
01:24:23,754 --> 01:24:24,144
Cars.
2122
01:24:24,654 --> 01:24:28,224
Even I will not be came back down
in this area is a whole valley since.
2123
01:24:28,944 --> 01:24:29,694
One the value
2124
01:24:29,874 --> 01:24:30,874
for diary auto on.
2125
01:24:31,314 --> 01:24:32,844
Friday where it when
2126
01:24:33,024 --> 01:24:35,544
imbalanced and then
became balanced.
2127
01:24:35,994 --> 01:24:38,124
Cause was the weekly
profile gonna tell me.
2128
01:24:40,104 --> 01:24:41,754
All of this combined.
2129
01:24:43,434 --> 01:24:46,494
And in fact is not going to be like
that is it it's going to have the gap.
2130
01:24:46,944 --> 01:24:49,344
Which is the gap down
on Fridays which can I have
2131
01:24:49,554 --> 01:24:50,554
da.
2132
01:24:50,844 --> 01:24:53,874
Then is going to have
a gap down and then is
2133
01:24:53,874 --> 01:24:54,174
going to have that
and is going to give me.
2134
01:24:54,594 --> 01:24:55,954
It's almost going
to give me locker
2135
01:24:56,064 --> 01:24:58,077
value area for
this which is wrong.
2136
01:24:58,944 --> 01:25:00,684
Right his wrongs should be.
2137
01:25:03,624 --> 01:25:05,904
I dunno it just seemed obvious
to me the angle nominee
2138
01:25:06,054 --> 01:25:07,054
Donald seem right.
2139
01:25:08,154 --> 01:25:09,474
So surely we should be.
2140
01:25:09,954 --> 01:25:13,194
Maybe this is where my muffs
did help me where I was like hang
2141
01:25:13,323 --> 01:25:14,323
you corn.
2142
01:25:14,364 --> 01:25:16,854
Have a value every here
though makes sense.
2143
01:25:17,214 --> 01:25:18,214
Snow.
2144
01:25:18,294 --> 01:25:19,464
An even distribution.
2145
01:25:19,884 --> 01:25:20,964
The statistics
2146
01:25:21,264 --> 01:25:23,784
they seventy percent
is very inaccurate.
2147
01:25:24,474 --> 01:25:25,194
It doesn't
2148
01:25:25,344 --> 01:25:27,714
accurately reflect balance.
2149
01:25:28,434 --> 01:25:29,994
And this comes on to
2150
01:25:30,144 --> 01:25:32,952
of units view things that
may be a outside of the.
2151
01:25:33,864 --> 01:25:34,434
Scope
2152
01:25:34,704 --> 01:25:36,864
of was doing here
and is to do with.
2153
01:25:37,434 --> 01:25:39,504
Tales in distributions and.
2154
01:25:40,014 --> 01:25:42,054
How distributions
can be skewed and
2155
01:25:42,354 --> 01:25:45,024
there is a bit of maths
involve but honestly.
2156
01:25:46,164 --> 01:25:47,164
You don't need to know it
2157
01:25:47,334 --> 01:25:49,554
but we need to
understand iron is that isn't
2158
01:25:49,703 --> 01:25:50,244
in that.
2159
01:25:50,604 --> 01:25:54,624
NY shape the I was showing you in
the probability distribution section.
2160
01:25:55,224 --> 01:25:56,394
Which means that.
2161
01:25:56,994 --> 01:25:59,724
These value their meaning
lips that are mean anything.
2162
01:26:00,474 --> 01:26:02,874
For the reasons that I
set you on the last flight.
2163
01:26:03,534 --> 01:26:06,234
I don't want money to
get confused don't all is is.
2164
01:26:07,164 --> 01:26:08,164
If you've got.
2165
01:26:08,544 --> 01:26:08,909
So if
2166
01:26:09,024 --> 01:26:11,484
let's look at it this way if
you've got some balance right.
2167
01:26:12,684 --> 01:26:15,324
And then you got
imbalance in one period.
2168
01:26:15,864 --> 01:26:17,754
Though Maurice a
week a day as a mother.
2169
01:26:18,384 --> 01:26:22,284
And then nothing there's very little volume
and then you go him then you go balanced
2170
01:26:22,284 --> 01:26:23,284
again.
2171
01:26:23,484 --> 01:26:25,854
The to distributions
course distribution here.
2172
01:26:26,334 --> 01:26:27,334
Distribution here.
2173
01:26:28,254 --> 01:26:29,634
All I'm saying is.
2174
01:26:30,054 --> 01:26:32,364
Why would you then
used mathematics.
2175
01:26:34,044 --> 01:26:34,254
The
2176
01:26:34,464 --> 01:26:36,084
it did that's not
happening is it
2177
01:26:36,504 --> 01:26:37,884
to see your distribution
2178
01:26:38,034 --> 01:26:40,044
almost u-value
areas will be skewed.
2179
01:26:40,614 --> 01:26:42,323
The just wrong can
you see the wrong.
2180
01:26:43,014 --> 01:26:43,254
Said
2181
01:26:43,374 --> 01:26:44,374
that's what.
2182
01:26:44,574 --> 01:26:45,834
Became of use to me
2183
01:26:46,044 --> 01:26:47,424
on it was so obvious to me
2184
01:26:47,904 --> 01:26:48,904
and.
2185
01:26:49,314 --> 01:26:49,644
That
2186
01:26:49,854 --> 01:26:50,214
this
2187
01:26:50,454 --> 01:26:54,684
basically the valuers were meaningless when
we were looking at week redistribution so.
2188
01:26:55,164 --> 01:26:57,864
Let me actually show you
this rice or got this some.
2189
01:26:59,694 --> 01:27:02,424
Char up a wall do is
just give me a second.
2190
01:27:05,754 --> 01:27:06,754
Sorry.
2191
01:27:07,251 --> 01:27:08,251
So I have.
2192
01:27:09,024 --> 01:27:10,974
Put the weekly profile on here.
2193
01:27:11,685 --> 01:27:12,714
Let's just apply so
2194
01:27:12,954 --> 01:27:14,694
what of basically done there
2195
01:27:14,844 --> 01:27:15,844
is.
2196
01:27:18,773 --> 01:27:19,794
Left cleared off
2197
01:27:20,004 --> 01:27:20,369
then one.
2198
01:27:20,746 --> 01:27:21,746
Of the day again.
2199
01:27:22,314 --> 01:27:23,784
Kimber does Monday.
2200
01:27:24,444 --> 01:27:25,444
From this.
2201
01:27:25,524 --> 01:27:26,524
Friday.
2202
01:27:30,894 --> 01:27:31,254
Okay
2203
01:27:31,356 --> 01:27:33,084
another kid on the wrong.
2204
01:27:34,855 --> 01:27:35,394
A choice
2205
01:27:35,694 --> 01:27:37,464
making you guys
wait for the spa.
2206
01:27:41,784 --> 01:27:42,324
A case of
2207
01:27:42,474 --> 01:27:44,124
this is all disease.
2208
01:27:45,274 --> 01:27:47,694
This thesis weekly
profile this is
2209
01:27:48,054 --> 01:27:49,081
and just imagined that.
2210
01:27:50,334 --> 01:27:50,574
A seat
2211
01:27:50,694 --> 01:27:54,834
in the globex period and have a little bit
of falling there but causes all th used as
2212
01:27:54,834 --> 01:27:55,834
a gap but.
2213
01:27:55,944 --> 01:27:57,924
Essentially worry is doing.
2214
01:27:59,124 --> 01:28:00,144
Is is treating them
2215
01:28:00,354 --> 01:28:01,461
as one profile.
2216
01:28:01,764 --> 01:28:04,194
Said these valuers can
you see this value very here.
2217
01:28:05,094 --> 01:28:06,114
And this failure he
2218
01:28:06,234 --> 01:28:07,234
is clearly wrong.
2219
01:28:07,644 --> 01:28:11,034
Because it's is treating all
of that has one distribution.
2220
01:28:11,694 --> 01:28:12,984
Is much clearer here
2221
01:28:13,434 --> 01:28:17,304
to remember how I said to you so let
me take them off again just to remind you.
2222
01:28:22,345 --> 01:28:24,121
She she this weekly profile she
2223
01:28:24,324 --> 01:28:25,324
played it.
2224
01:28:25,854 --> 01:28:27,684
Let me keep up just
going to keep the day on.
2225
01:28:28,284 --> 01:28:28,514
They
2226
01:28:28,616 --> 01:28:29,616
can you see it.
2227
01:28:30,414 --> 01:28:31,414
This is the day
2228
01:28:31,494 --> 01:28:33,317
and in fact less Mark that.
2229
01:28:37,404 --> 01:28:38,404
God so sorry
2230
01:28:38,544 --> 01:28:39,544
to apologize.
2231
01:28:42,264 --> 01:28:44,484
Just on the ball
today with this sir.
2232
01:28:47,484 --> 01:28:48,484
Pin.
2233
01:28:49,554 --> 01:28:51,444
So do see what
the distribution did
2234
01:28:51,714 --> 01:28:53,664
remember I said to you
will hang on a minute.
2235
01:28:54,804 --> 01:28:57,534
We've got initially no
balance and then we've got
2236
01:28:57,684 --> 01:28:59,304
caught a balance in this area.
2237
01:28:59,964 --> 01:29:03,354
And then the next day comes and forms balance
and actually because he saw within one
2238
01:29:03,355 --> 01:29:04,355
period.
2239
01:29:04,794 --> 01:29:05,454
In theory
2240
01:29:05,664 --> 01:29:07,044
das the ballot was this.
2241
01:29:08,244 --> 01:29:09,244
Nowhere to be seen.
2242
01:29:09,564 --> 01:29:09,864
So
2243
01:29:10,044 --> 01:29:13,074
really we want one
composite profile
2244
01:29:13,554 --> 01:29:15,204
and then we want to keep Friday
2245
01:29:15,474 --> 01:29:17,394
separate but look quite story.
2246
01:29:18,744 --> 01:29:19,744
It's a week.
2247
01:29:19,998 --> 01:29:21,174
Doing Monday to Friday.
2248
01:29:22,464 --> 01:29:24,684
Right so let's bring that
back look what it does
2249
01:29:24,834 --> 01:29:25,834
look.
2250
01:29:27,504 --> 01:29:28,504
Can you Shiva.
2251
01:29:29,185 --> 01:29:29,754
Shrunk.
2252
01:29:30,174 --> 01:29:31,174
Right.
2253
01:29:31,766 --> 01:29:33,324
Is basically doing walk.
2254
01:29:37,854 --> 01:29:39,414
To get rid of some of this mess.
2255
01:29:42,234 --> 01:29:43,734
Soccer make it clear to you.
2256
01:29:45,984 --> 01:29:46,984
Kanika.
2257
01:29:47,034 --> 01:29:49,974
Shall look what he's doing
is basically combining.
2258
01:29:50,334 --> 01:29:52,164
You won't see it
causes behind here
2259
01:29:52,494 --> 01:29:53,514
but you know Monday
2260
01:29:53,784 --> 01:29:58,254
Tuesday Wednesday Thursday and booted
I say that on Friday but look at history
2261
01:29:58,734 --> 01:29:59,934
to bring any in any way.
2262
01:30:00,504 --> 01:30:02,094
So he's calculating this as.
2263
01:30:02,454 --> 01:30:03,454
A nice.
2264
01:30:04,284 --> 01:30:05,814
Even district bishop I look.
2265
01:30:06,204 --> 01:30:09,144
Shoot huge gaps here
huge gaps here why.
2266
01:30:09,864 --> 01:30:10,944
Because these are almost.
2267
01:30:11,304 --> 01:30:12,564
This is almost.
2268
01:30:13,074 --> 01:30:14,634
A distribution in his own Roy.
2269
01:30:16,481 --> 01:30:20,274
Not really sure if I'm losing anyone here
but just keep going through this it will
2270
01:30:20,274 --> 01:30:22,614
make a lot of
sense if you watch it.
2271
01:30:23,094 --> 01:30:24,234
Back a few times.
2272
01:30:28,042 --> 01:30:31,884
And you know we can always discuss this
afterwards I got nourish you as a group.
2273
01:30:32,424 --> 01:30:34,134
You'll be good a
thing will be helpful.
2274
01:30:34,824 --> 01:30:38,694
For me to cover this again if no one
understands that so don't feel you're alone
2275
01:30:38,694 --> 01:30:39,174
you're not
2276
01:30:39,624 --> 01:30:40,164
and.
2277
01:30:40,554 --> 01:30:41,424
Whoo cover him
2278
01:30:41,574 --> 01:30:43,074
if you get stuck on it but look.
2279
01:30:43,614 --> 01:30:46,254
Go for a few times look what
it's doing the week profile.
2280
01:30:48,324 --> 01:30:49,324
To she.
2281
01:30:49,674 --> 01:30:50,724
Is taking that
2282
01:30:50,994 --> 01:30:54,624
into its value every calculations
which is a big problem.
2283
01:30:55,314 --> 01:30:56,314
A don't wonder.
2284
01:30:56,634 --> 01:31:00,414
Why should one is this Monday
Tuesday Wednesday Thursday luck I said.
2285
01:31:01,899 --> 01:31:03,864
And in fact even at one one.
2286
01:31:04,644 --> 01:31:06,084
Claimed of half.
2287
01:31:06,384 --> 01:31:07,384
Of this period.
2288
01:31:09,056 --> 01:31:10,466
I really wanted to be.
2289
01:31:10,886 --> 01:31:12,026
In just this.
2290
01:31:12,596 --> 01:31:14,066
As in this area here.
2291
01:31:14,576 --> 01:31:15,986
And can use of
is funny isn't it.
2292
01:31:16,376 --> 01:31:16,946
Almost.
2293
01:31:17,306 --> 01:31:20,519
The value area of this is
where the point of control
2294
01:31:20,666 --> 01:31:21,296
for the week.
2295
01:31:21,656 --> 01:31:23,096
I mean that is how
2296
01:31:23,336 --> 01:31:24,336
off.
2297
01:31:24,896 --> 01:31:25,406
He is
2298
01:31:25,556 --> 01:31:26,666
so what's the solution.
2299
01:31:27,716 --> 01:31:28,046
Well.
2300
01:31:28,526 --> 01:31:30,836
The solution is what
we need to be able.
2301
01:31:31,436 --> 01:31:34,076
To combine our own profiles.
2302
01:31:34,436 --> 01:31:37,646
Don't get me wrong the week is a
good thing to look out and I look at it
2303
01:31:37,766 --> 01:31:39,986
and I'll show you
this later we advance.
2304
01:31:40,496 --> 01:31:41,496
Really advanced.
2305
01:31:42,416 --> 01:31:43,794
Because you can see albeit
2306
01:31:43,916 --> 01:31:46,136
I'll be combining load
of perspectives and.
2307
01:31:46,616 --> 01:31:47,616
Things will get.
2308
01:31:47,936 --> 01:31:48,416
Difficult
2309
01:31:48,597 --> 01:31:52,046
I'm gonna knock on Elijah and thus
why said that learning Purvis long.
2310
01:31:52,466 --> 01:31:53,756
You'll learn the
stuff overnight.
2311
01:31:54,356 --> 01:31:57,656
You argue enough to learn to
combine different perspectives.
2312
01:31:58,076 --> 01:32:00,234
You know those hedge
funds the all looking at
2313
01:32:00,356 --> 01:32:01,356
weekly.
2314
01:32:02,126 --> 01:32:02,606
Provo
2315
01:32:02,966 --> 01:32:04,916
but the real easy
doesn't make sense.
2316
01:32:07,616 --> 01:32:09,956
Composite profiles of
really important alarm.
2317
01:32:10,256 --> 01:32:10,975
Absolutely
2318
01:32:11,153 --> 01:32:14,216
I met you I know that those other
people looking at this is just that.
2319
01:32:14,786 --> 01:32:16,916
And when not
first I looking at it
2320
01:32:17,156 --> 01:32:17,936
I thought oh
2321
01:32:18,086 --> 01:32:21,026
I wondered why but then luck I
said when I actually reached out.
2322
01:32:21,776 --> 01:32:22,776
To.
2323
01:32:22,946 --> 01:32:24,896
Someone who was very very
2324
01:32:25,196 --> 01:32:26,606
good I incredible trader
2325
01:32:26,816 --> 01:32:28,526
he actually showed me something
2326
01:32:28,706 --> 01:32:31,196
and thus market profile
was actually showed.
2327
01:32:31,804 --> 01:32:32,306
And.
2328
01:32:32,636 --> 01:32:35,700
Were not brought this up because are no
east and they won't know software out there
2329
01:32:35,724 --> 01:32:37,046
that allowed you to do walk.
2330
01:32:37,496 --> 01:32:41,456
So I am getting to the point series just I
need to get through this to make my point.
2331
01:32:42,176 --> 01:32:43,296
But very difficult for me to
2332
01:32:43,345 --> 01:32:44,345
a point.
2333
01:32:44,606 --> 01:32:45,606
Suggest remember that.
2334
01:32:47,006 --> 01:32:51,026
In fact wall do is what was going to
say just remember this weekly profile but.
2335
01:32:51,746 --> 01:32:52,886
Why don't we just.
2336
01:32:56,516 --> 01:32:57,516
Troy in.
2337
01:32:57,986 --> 01:33:00,746
Case he got the weekly profile
and nominee a rid of it now.
2338
01:33:01,406 --> 01:33:02,606
So I can make my point.
2339
01:33:06,536 --> 01:33:09,475
Okay so we got rid of the weekly
proposed can you see that weekly profile.
2340
01:33:10,586 --> 01:33:12,056
The walk just combined.
2341
01:33:12,956 --> 01:33:14,936
Five depth of
monkees into one big
2342
01:33:15,176 --> 01:33:16,585
depth of market on prefer.
2343
01:33:17,726 --> 01:33:18,726
Some luck I said
2344
01:33:18,896 --> 01:33:21,296
I was always wondering
that must be away.
2345
01:33:22,916 --> 01:33:24,266
Monastery on Monday.
2346
01:33:24,926 --> 01:33:26,156
But on Tuesday.
2347
01:33:26,846 --> 01:33:27,416
Nothing
2348
01:33:27,536 --> 01:33:28,706
I don't want these combined
2349
01:33:29,006 --> 01:33:30,006
weekly profile.
2350
01:33:30,236 --> 01:33:31,046
Because look
2351
01:33:31,166 --> 01:33:32,166
values here.
2352
01:33:32,906 --> 01:33:33,906
Values here.
2353
01:33:34,047 --> 01:33:35,426
Term other look up price.
2354
01:33:35,816 --> 01:33:38,186
Not about all the some
overlapping price I don't care.
2355
01:33:38,756 --> 01:33:39,756
I'm looking at.
2356
01:33:40,166 --> 01:33:42,206
Ways value is here.
2357
01:33:42,866 --> 01:33:43,436
And is here.
2358
01:33:43,797 --> 01:33:44,276
Can you see.
2359
01:33:44,756 --> 01:33:47,006
Completely apart and
his head he miles away
2360
01:33:47,366 --> 01:33:48,956
but look at the next
day Wednesday.
2361
01:33:50,598 --> 01:33:50,936
Here.
2362
01:33:51,416 --> 01:33:51,776
Right.
2363
01:33:52,099 --> 01:33:53,216
The combine these two.
2364
01:33:54,146 --> 01:33:54,626
And then
2365
01:33:54,866 --> 01:33:55,466
look for.
2366
01:33:55,856 --> 01:33:57,356
Trading opportunities.
2367
01:33:57,926 --> 01:33:58,286
Saw
2368
01:33:58,406 --> 01:34:01,136
there was no way though I
used to have the I bought stop for
2369
01:34:01,367 --> 01:34:02,367
of.
2370
01:34:02,675 --> 01:34:05,606
And a kind of this is the type of
stuff are doing effects obviously.
2371
01:34:07,046 --> 01:34:10,436
And maybe that's why
I'm able to Duke's I did
2372
01:34:10,442 --> 01:34:12,123
this for long time is
I would eyeball this.
2373
01:34:12,656 --> 01:34:13,656
Roger said you know what
2374
01:34:13,886 --> 01:34:15,836
thus roughly value here.
2375
01:34:17,036 --> 01:34:18,036
And actually.
2376
01:34:19,226 --> 01:34:22,136
I'm going to be able to
split the our by corn so.
2377
01:34:22,526 --> 01:34:23,526
Maybe is.
2378
01:34:23,606 --> 01:34:25,466
Two and a half
days and then this.
2379
01:34:26,006 --> 01:34:27,006
Though area
2380
01:34:27,206 --> 01:34:31,256
is a nice distribution or it's one that
and US distribution here and then this is
2381
01:34:31,441 --> 01:34:31,872
the other
2382
01:34:32,006 --> 01:34:33,006
combine it.
2383
01:34:33,386 --> 01:34:36,476
Then some are mention more could profile
to me and they said you do realize your
2384
01:34:36,477 --> 01:34:37,496
market profile.
2385
01:34:38,576 --> 01:34:39,576
Yeah.
2386
01:34:40,346 --> 01:34:41,816
You can actually combined them.
2387
01:34:42,926 --> 01:34:46,556
So sorry I deleted the weekly on that
in fact delicious get rid of all of it.
2388
01:34:48,266 --> 01:34:52,076
So what market profile allows you
to do is you can actually combined.
2389
01:34:52,797 --> 01:34:54,296
This day and this day
2390
01:34:54,626 --> 01:34:55,646
and you can split.
2391
01:34:56,306 --> 01:34:56,876
This day
2392
01:34:57,086 --> 01:34:57,746
completely
2393
01:34:58,106 --> 01:34:59,106
and get rid of this.
2394
01:35:00,446 --> 01:35:03,984
I mean obviously not
get rid of Utah but you
2395
01:35:04,016 --> 01:35:04,376
know split it out and
just bring the how.
2396
01:35:05,036 --> 01:35:08,514
She can combine this two and
a half day period and a workout.
2397
01:35:09,081 --> 01:35:10,766
Of value area for you so.
2398
01:35:11,576 --> 01:35:15,326
You could start and trading
opportunities even here look for from by.
2399
01:35:16,796 --> 01:35:17,516
This you could
2400
01:35:17,756 --> 01:35:20,846
potentially split that how and
you can just combined this and this.
2401
01:35:21,206 --> 01:35:22,766
Said split this bit out.
2402
01:35:25,016 --> 01:35:26,906
And so on and so
forth you know she can.
2403
01:35:27,296 --> 01:35:30,086
You can start to really
even this look at is clear.
2404
01:35:31,076 --> 01:35:33,716
Value area their
valuer their value.
2405
01:35:34,123 --> 01:35:36,506
These three days clearly
did what income anyway.
2406
01:35:38,546 --> 01:35:41,816
Soon as if by ourself I can tell you
that Marcus even going to go there.
2407
01:35:42,416 --> 01:35:43,416
Back to where.
2408
01:35:43,826 --> 01:35:44,826
Previous value.
2409
01:35:45,086 --> 01:35:45,566
Or
2410
01:35:45,956 --> 01:35:48,596
and will do this don't worry
when do this on a chart together.
2411
01:35:49,286 --> 01:35:53,636
All be showing you stuff on a pen for the
rest of time don't worry about that we will
2412
01:35:53,636 --> 01:35:54,636
be doing this
2413
01:35:54,836 --> 01:35:55,196
and
2414
01:35:55,436 --> 01:35:58,166
a game trading opportunities
were very close snow.
2415
01:35:58,736 --> 01:36:01,856
But it's important to assure you this only
saw him just knew the market profile for
2416
01:36:01,856 --> 01:36:02,856
the sake of your know.
2417
01:36:03,327 --> 01:36:04,826
Is because on volume profile.
2418
01:36:05,576 --> 01:36:09,296
And think about it how many transactions
are here hundreds of thousands
2419
01:36:09,536 --> 01:36:10,536
you can't.
2420
01:36:10,676 --> 01:36:12,281
Is difficult I understand why
2421
01:36:12,416 --> 01:36:13,896
they don't let you
do in the software.
2422
01:36:15,266 --> 01:36:16,266
Is you call them.
2423
01:36:16,621 --> 01:36:18,604
I can you break out what
are you going to break out
2424
01:36:18,628 --> 01:36:22,733
on a break out in the twenty nine
thousand and five hundred and one.
2425
01:36:23,036 --> 01:36:25,526
First transaction and you
she will mean is very difficult.
2426
01:36:26,366 --> 01:36:28,436
Market profile
on the other hand.
2427
01:36:28,736 --> 01:36:29,736
Let's go back to it.
2428
01:36:30,086 --> 01:36:32,036
Saw as oh same market profile
2429
01:36:32,156 --> 01:36:33,156
on the other hand
2430
01:36:33,326 --> 01:36:33,746
here.
2431
01:36:34,256 --> 01:36:34,706
Look
2432
01:36:34,886 --> 01:36:35,886
space it isn't a.
2433
01:36:36,206 --> 01:36:37,206
Into letters
2434
01:36:37,406 --> 01:36:38,606
each period.
2435
01:36:40,316 --> 01:36:41,316
A split out.
2436
01:36:41,696 --> 01:36:42,076
Into
2437
01:36:42,236 --> 01:36:46,076
letters to I can easily do what we
are can play around with can split.
2438
01:36:46,676 --> 01:36:47,936
These periods out
2439
01:36:48,266 --> 01:36:49,266
and then.
2440
01:36:49,436 --> 01:36:50,966
Combine into.
2441
01:36:52,016 --> 01:36:52,106
I.
2442
01:36:52,856 --> 01:36:54,056
Was very similar profile
2443
01:36:54,326 --> 01:36:58,826
but what he is is let me explain to you what
market profile actually is because a lot
2444
01:36:58,826 --> 01:37:00,356
of why'd you said
won't make sense.
2445
01:37:00,862 --> 01:37:02,546
And why I'm actually.
2446
01:37:03,686 --> 01:37:04,256
Looking
2447
01:37:04,376 --> 01:37:06,324
at market profile
in particular so
2448
01:37:06,566 --> 01:37:07,566
list sir.
2449
01:37:07,860 --> 01:37:08,860
Look at this
2450
01:37:08,996 --> 01:37:10,616
bar on a real chart.
2451
01:37:10,946 --> 01:37:14,846
Okay so we're back to my crew all
jaw and was actually danis of combined.
2452
01:37:15,537 --> 01:37:17,636
Market profile
with volume profile.
2453
01:37:19,226 --> 01:37:23,186
Which have no is actually quite common
a lot of guys do do this but they don't.
2454
01:37:23,726 --> 01:37:24,986
Do the composite thing.
2455
01:37:27,386 --> 01:37:31,946
Generally of not seen much of it but to be
honest recently I have seen a few people.
2456
01:37:32,306 --> 01:37:33,386
Doing the composite.
2457
01:37:35,216 --> 01:37:37,226
Show of combination bought term.
2458
01:37:37,646 --> 01:37:40,074
Yeah like I said it's not
something I've seen much of.
2459
01:37:40,496 --> 01:37:41,496
Bar term a
2460
01:37:41,606 --> 01:37:44,426
think is very powerful when
is basically what I'm doing
2461
01:37:44,756 --> 01:37:45,836
but like I said look arm
2462
01:37:46,076 --> 01:37:48,475
obviously I'm not the only
person doing out there.
2463
01:37:48,806 --> 01:37:50,505
Some one else
actually showed me this
2464
01:37:50,726 --> 01:37:52,976
I said that you can
combine profile so clearly.
2465
01:37:53,486 --> 01:37:56,636
They were doing it and have
noticed a few people doing it
2466
01:37:56,996 --> 01:37:57,996
and.
2467
01:37:58,498 --> 01:38:03,386
And actually of now seen on institutional
platforms they're all introduced this
2468
01:38:03,446 --> 01:38:05,066
ability to combine a good.
2469
01:38:05,396 --> 01:38:06,986
Why the more people
that are doing it.
2470
01:38:07,924 --> 01:38:08,516
The better but
2471
01:38:08,692 --> 01:38:09,146
more.
2472
01:38:09,536 --> 01:38:12,566
For the reasons that you
may think any of the saw and.
2473
01:38:13,016 --> 01:38:16,586
No offensive use this stuff by is
not to do self-fulfilling nonsense.
2474
01:38:17,006 --> 01:38:18,596
Faves fifty know is not.
2475
01:38:19,106 --> 01:38:22,046
This is transactional data
whether at combining or know.
2476
01:38:22,736 --> 01:38:25,856
Just because a million people
go and combine this stuff.
2477
01:38:26,276 --> 01:38:28,256
Is not going to make
it work any better.
2478
01:38:28,736 --> 01:38:29,876
You go to understand
2479
01:38:29,996 --> 01:38:31,376
we're looking at raw data.
2480
01:38:31,886 --> 01:38:33,467
Okay end of the day people.
2481
01:38:34,196 --> 01:38:35,196
And.
2482
01:38:35,546 --> 01:38:36,656
Transacting
2483
01:38:36,776 --> 01:38:37,376
for
2484
01:38:37,676 --> 01:38:40,946
going imbalanced or balance
wherever I combine this or off
2485
01:38:41,336 --> 01:38:42,357
to understand the
2486
01:38:42,476 --> 01:38:43,766
same thing is happening.
2487
01:38:44,126 --> 01:38:45,126
The market is.
2488
01:38:45,956 --> 01:38:50,066
Basically what I'm saying is the market
when it goes imbalanced here is behaving.
2489
01:38:50,666 --> 01:38:53,756
As if this is one anyway
why because he is one.
2490
01:38:54,566 --> 01:38:56,876
Does that makes her since
he Hugo Thursday Friday.
2491
01:38:57,836 --> 01:38:59,456
Whether I combined the volume.
2492
01:38:59,996 --> 01:39:01,736
And I say oh look.
2493
01:39:02,396 --> 01:39:05,336
This much volume took
place here on Thursday Friday
2494
01:39:05,546 --> 01:39:07,166
or whether I don't combine it.
2495
01:39:07,646 --> 01:39:10,646
The volume took place there
regardless of over a combined not
2496
01:39:11,066 --> 01:39:12,066
to see my point.
2497
01:39:12,236 --> 01:39:14,396
Is just from a
visual perspective.
2498
01:39:14,936 --> 01:39:15,086
It
2499
01:39:15,206 --> 01:39:17,606
be the easier for me to analyze.
2500
01:39:17,966 --> 01:39:20,096
What the market
is trying to achieve.
2501
01:39:20,486 --> 01:39:22,796
Thus all it is there's
no self-fulfilling
2502
01:39:23,006 --> 01:39:24,146
nonsense to any of other.
2503
01:39:24,536 --> 01:39:24,896
Okay.
2504
01:39:25,346 --> 01:39:28,076
That's why I say really
understand the power.
2505
01:39:28,586 --> 01:39:31,866
Of what this stuff is telling you don't
think of it as an indicator the eyes combine
2506
01:39:31,868 --> 01:39:31,928
the
2507
01:39:32,034 --> 01:39:33,536
all these amazing
levels nice nada.
2508
01:39:34,764 --> 01:39:37,046
The monkees going to
work the same way whether
2509
01:39:37,256 --> 01:39:40,136
is combined are not the
market is transactions.
2510
01:39:40,706 --> 01:39:42,086
You know and
you know all of this
2511
01:39:42,326 --> 01:39:44,846
these transactions all
combined anyway one day.
2512
01:39:45,146 --> 01:39:47,396
Just because this as
Thursday and this as Friday.
2513
01:39:48,116 --> 01:39:50,576
Doesn't mean they're split out
these transactions happened.
2514
01:39:51,536 --> 01:39:52,706
At the same price
2515
01:39:52,826 --> 01:39:54,546
they just have put up
and on different days.
2516
01:39:54,986 --> 01:39:56,636
Pena at the end
of the day as far as
2517
01:39:56,756 --> 01:39:58,346
these people are concerned.
2518
01:39:59,486 --> 01:40:02,576
It's all one anyway right and
the next people that come in.
2519
01:40:02,966 --> 01:40:04,616
A basing their decisions over.
2520
01:40:05,996 --> 01:40:09,836
Kind of like when you bought the iPhone you
know what to talk about the iPhone example.
2521
01:40:10,346 --> 01:40:13,946
I believe and I said you know you scroll
on eBay don't you and you look anything.
2522
01:40:14,366 --> 01:40:17,336
Six hundred pound right now how
much easier thousand you don't think.
2523
01:40:18,176 --> 01:40:22,406
Oh by yesterday it was a
thousand but the day before it was.
2524
01:40:23,486 --> 01:40:26,966
You know whatever it was know
you're thinking of the as a whole.
2525
01:40:27,476 --> 01:40:29,876
That's all my point is the
next buyers and sellers.
2526
01:40:30,296 --> 01:40:33,686
They are already thinking of
transactional data over a period.
2527
01:40:34,046 --> 01:40:35,096
Is just visually
2528
01:40:35,546 --> 01:40:37,586
and I'm sorry to labor
the point is just because.
2529
01:40:38,216 --> 01:40:40,376
Even when mrs talk and.
2530
01:40:41,216 --> 01:40:44,396
You know if I see it being
taught people meant opening this.
2531
01:40:44,966 --> 01:40:49,046
And which I rarely do but luck I said I
have seen a bit of this out there now.
2532
01:40:49,617 --> 01:40:53,246
He's just being tula combine in magical
levels is not that you could see it for what
2533
01:40:53,246 --> 01:40:53,666
it is
2534
01:40:53,936 --> 01:40:55,736
and I'm sorry I went
on a little bit there but
2535
01:40:55,826 --> 01:40:57,086
it was important I said the.
2536
01:40:58,346 --> 01:40:59,756
But coming back to the point.
2537
01:41:00,926 --> 01:41:02,336
Why William more easy
2538
01:41:02,576 --> 01:41:02,846
to.
2539
01:41:03,207 --> 01:41:05,876
You know what exactly is
market prefer so you see how I did.
2540
01:41:06,926 --> 01:41:10,826
A by the way this one her reasons I moved
to Sierra chop their market profile and
2541
01:41:10,826 --> 01:41:12,026
volume profile software.
2542
01:41:12,746 --> 01:41:13,746
I tell you.
2543
01:41:13,916 --> 01:41:17,936
Are you seek e g I was happy to pay the
money six seven hundred eight hundred dollars
2544
01:41:17,936 --> 01:41:18,956
a month I was paying.
2545
01:41:19,736 --> 01:41:20,736
Another mind.
2546
01:41:21,176 --> 01:41:23,036
Paying that because
obviously I'm doing
2547
01:41:23,156 --> 01:41:25,376
much larger relative
volumes and futures.
2548
01:41:27,310 --> 01:41:30,550
So he dollars a month for
this which is ten times bell.
2549
01:41:30,880 --> 01:41:33,070
Cannot say you know
sorry I'm just giving a little.
2550
01:41:33,670 --> 01:41:35,350
Shout out to Sierra they're and
2551
01:41:35,474 --> 01:41:37,990
of as you know I got no
affiliation with them both
2552
01:41:38,260 --> 01:41:41,830
what it eases are want me to
understand how powerful this platform is.
2553
01:41:42,700 --> 01:41:43,750
The way just
2554
01:41:43,870 --> 01:41:44,870
allows you.
2555
01:41:45,760 --> 01:41:48,700
To do this stuff of these on the
show you some amazing stuff.
2556
01:41:49,390 --> 01:41:53,409
Where you can look you could split the most
amazing isn't a split the and don't worry
2557
01:41:53,495 --> 01:41:54,856
will at all of this
stuff together.
2558
01:41:55,600 --> 01:41:56,600
And.
2559
01:41:58,000 --> 01:41:59,350
To this on do the splits.
2560
01:42:01,030 --> 01:42:02,650
So yeah so basically.
2561
01:42:03,280 --> 01:42:07,270
What less are win a nobel topic
there let's look at what exactly is doing.
2562
01:42:08,830 --> 01:42:10,120
Really is very simple.
2563
01:42:10,510 --> 01:42:12,710
All of these
period try the thirty.
2564
01:42:13,090 --> 01:42:16,510
Someone will say
can it does have to be
2565
01:42:16,510 --> 01:42:16,930
thirty minute period
nobody's market standard.
2566
01:42:17,410 --> 01:42:20,260
Go overlook that's why I recommend
you read the books and you she.
2567
01:42:20,740 --> 01:42:24,280
Thirty minutes none Ivan seen a
single person using market profile.
2568
01:42:24,730 --> 01:42:27,430
That doesn't use to a minute
period so it's just standard.
2569
01:42:28,990 --> 01:42:31,690
Every one of these
periods of a period.
2570
01:42:32,080 --> 01:42:33,190
Is thirty minutes.
2571
01:42:33,490 --> 01:42:34,600
Just think of it as a.
2572
01:42:35,080 --> 01:42:35,500
Bar.
2573
01:42:35,830 --> 01:42:36,834
In any Isabel.
2574
01:42:37,750 --> 01:42:38,110
Okay
2575
01:42:38,350 --> 01:42:40,990
so he opened
their at the a blue a.
2576
01:42:42,166 --> 01:42:46,870
I dunno if exactly when I put down but
for thirty minutes basically it moved were.
2577
01:42:47,590 --> 01:42:49,480
In this price said this is oil.
2578
01:42:50,680 --> 01:42:51,220
And
2579
01:42:51,430 --> 01:42:54,400
it moved from sixteen eighty
opt to seventeen fifty just.
2580
01:42:54,730 --> 01:42:56,410
Now we don't know if this ball
2581
01:42:56,740 --> 01:42:57,249
and
2582
01:42:57,460 --> 01:43:00,640
went up and then came
down or what he dead and
2583
01:43:00,940 --> 01:43:02,890
but it doesn't
matter all we know is
2584
01:43:03,100 --> 01:43:04,100
that the barges.
2585
01:43:04,540 --> 01:43:06,670
High to low that's
it was that period.
2586
01:43:08,140 --> 01:43:08,620
And
2587
01:43:08,766 --> 01:43:10,090
the cake and then.
2588
01:43:10,720 --> 01:43:11,720
The be period
2589
01:43:11,770 --> 01:43:12,770
is the next day
2590
01:43:12,820 --> 01:43:14,084
and remember we're all th.
2591
01:43:14,590 --> 01:43:15,590
For crew do.
2592
01:43:16,120 --> 01:43:16,540
Rife
2593
01:43:16,810 --> 01:43:17,410
nine am
2594
01:43:17,740 --> 01:43:19,030
to this was ninety nine thirty
2595
01:43:19,248 --> 01:43:20,560
nine thirty two.
2596
01:43:21,790 --> 01:43:23,650
Ten o'clock with the be period.
2597
01:43:25,360 --> 01:43:25,690
UK
2598
01:43:25,930 --> 01:43:26,930
will happen.
2599
01:43:27,550 --> 01:43:29,980
The next thirty
minute candle did this.
2600
01:43:31,300 --> 01:43:33,415
We don't know
exactly how he did a.
2601
01:43:34,150 --> 01:43:36,550
And in care about
open hilo close is just.
2602
01:43:36,880 --> 01:43:37,880
The period.
2603
01:43:38,141 --> 01:43:38,290
I
2604
01:43:38,583 --> 01:43:39,583
of the period.
2605
01:43:39,730 --> 01:43:41,949
Than see period did
walk came back in.
2606
01:43:43,510 --> 01:43:44,890
D period at this.
2607
01:43:46,570 --> 01:43:47,570
He period.
2608
01:43:48,100 --> 01:43:49,100
F period
2609
01:43:49,240 --> 01:43:50,240
she.
2610
01:43:50,680 --> 01:43:51,909
Age I.
2611
01:43:53,261 --> 01:43:56,410
These all half an ounce of every
half an hour they're just candles.
2612
01:43:56,950 --> 01:43:57,970
Why does this matter.
2613
01:43:58,330 --> 01:44:02,540
Who think of like the puzzle games
where they dropped down Tetris or whatever
2614
01:44:02,540 --> 01:44:03,910
organise dropping down and it.
2615
01:44:04,450 --> 01:44:05,740
Building of why.
2616
01:44:06,340 --> 01:44:07,340
What's happening.
2617
01:44:07,990 --> 01:44:08,560
This just
2618
01:44:08,800 --> 01:44:09,850
when you collapse it
2619
01:44:10,060 --> 01:44:12,010
this falls into their
this walked into the
2620
01:44:12,310 --> 01:44:14,320
can you see some of the
overlap over each other.
2621
01:44:14,620 --> 01:44:16,629
What does that
mean is very simple.
2622
01:44:16,930 --> 01:44:17,930
He just means that.
2623
01:44:19,420 --> 01:44:23,800
At some point in time these
thirty minute periods or happened.
2624
01:44:24,460 --> 01:44:25,750
In the same prices.
2625
01:44:26,980 --> 01:44:28,210
Why is that important both
2626
01:44:28,360 --> 01:44:29,500
was volume profile.
2627
01:44:30,220 --> 01:44:31,869
And actually a lot of people.
2628
01:44:32,230 --> 01:44:34,687
Refer to voting
profile of volume at.
2629
01:44:34,990 --> 01:44:35,990
Price.
2630
01:44:36,460 --> 01:44:37,660
Because what's happening here.
2631
01:44:37,750 --> 01:44:38,750
She's price.
2632
01:44:39,460 --> 01:44:40,460
Volley.
2633
01:44:41,020 --> 01:44:42,020
These are called
2634
01:44:42,130 --> 01:44:43,600
a t pios okay.
2635
01:44:44,397 --> 01:44:45,970
He can see him occupied fall.
2636
01:44:46,300 --> 01:44:46,835
Keep your
2637
01:44:46,975 --> 01:44:47,350
off.
2638
01:44:47,860 --> 01:44:49,810
Like a time price opportunity.
2639
01:44:50,260 --> 01:44:54,400
Again this why I suggest read the book
because it's all explained in color of detail.
2640
01:44:55,120 --> 01:44:59,169
And one of the guys who wrote the book
he actually came up with market profile but
2641
01:44:59,169 --> 01:45:00,169
you know decades ago.
2642
01:45:01,180 --> 01:45:01,449
So
2643
01:45:01,570 --> 01:45:02,570
heavily were freedom.
2644
01:45:03,430 --> 01:45:06,640
And actually is worth mentioning tier
one of the reasons why market profile.
2645
01:45:07,600 --> 01:45:08,080
And
2646
01:45:08,290 --> 01:45:11,170
is very popular with
institutions is because.
2647
01:45:11,470 --> 01:45:14,650
Before futures data was
transparent and available.
2648
01:45:16,090 --> 01:45:18,520
This is all they had
naturally is pretty good.
2649
01:45:19,034 --> 01:45:19,513
And.
2650
01:45:19,990 --> 01:45:22,360
A new siva because
water is actually doing is.
2651
01:45:22,840 --> 01:45:25,090
Robyn and saying volume
up price will she same.
2652
01:45:25,480 --> 01:45:26,480
Time.
2653
01:45:26,560 --> 01:45:28,660
A priceless was called
time price opportunity.
2654
01:45:29,290 --> 01:45:32,470
All it saying is how long
did I spend the each price.
2655
01:45:32,800 --> 01:45:34,930
Well in the first the
a minute period.
2656
01:45:36,280 --> 01:45:36,910
I spent.
2657
01:45:37,300 --> 01:45:38,440
Thirty minutes
2658
01:45:38,560 --> 01:45:39,729
at these prices.
2659
01:45:40,030 --> 01:45:41,560
The second the a minute period
2660
01:45:41,980 --> 01:45:44,830
to can you she was happening
here as this look at it again.
2661
01:45:45,190 --> 01:45:46,190
As overlap.
2662
01:45:46,930 --> 01:45:48,280
Can you she would you agree and.
2663
01:45:49,239 --> 01:45:51,070
Is eases you've watched
the depth of market.
2664
01:45:51,610 --> 01:45:53,050
The more time you spend
2665
01:45:53,260 --> 01:45:54,490
market orders are coming.
2666
01:45:55,180 --> 01:45:57,610
Probably you've got walk more
2667
01:45:57,731 --> 01:45:58,731
volume building.
2668
01:45:58,960 --> 01:46:01,030
Said vessel is is a
proxy for volume.
2669
01:46:01,870 --> 01:46:02,870
Can you see how.
2670
01:46:03,040 --> 01:46:05,470
The a b and c
overlap here and look.
2671
01:46:06,462 --> 01:46:08,140
Little bear volume
and the look of be.
2672
01:46:08,530 --> 01:46:10,330
There is no overlap
with any other period
2673
01:46:10,810 --> 01:46:11,810
and is thin.
2674
01:46:12,220 --> 01:46:13,360
Look here see.
2675
01:46:14,260 --> 01:46:17,350
Period which is the half an
hour the period between what
2676
01:46:17,590 --> 01:46:19,652
status nine thus
up to nine to aid as
2677
01:46:19,769 --> 01:46:21,100
as as tend to tend to a.
2678
01:46:21,970 --> 01:46:24,640
Ten day to eleven we went
down but then we came back in.
2679
01:46:25,090 --> 01:46:26,950
He sees loads of overlap.
2680
01:46:27,520 --> 01:46:29,050
Happening f prices.
2681
01:46:29,380 --> 01:46:30,760
Within this period and look.
2682
01:46:31,452 --> 01:46:32,452
Volumes building.
2683
01:46:33,670 --> 01:46:37,840
Look at this period here where we went
down and then we came straight back up with
2684
01:46:37,870 --> 01:46:38,228
quicken.
2685
01:46:38,530 --> 01:46:39,910
Same here in this period.
2686
01:46:40,300 --> 01:46:42,250
How much time did
we actually spend.
2687
01:46:43,210 --> 01:46:46,207
Between sixteenth the in
sixteen twenty well very little.
2688
01:46:46,896 --> 01:46:48,610
Of a thirty minute period so.
2689
01:46:49,540 --> 01:46:51,340
We probably didn't
build that much volume
2690
01:46:51,700 --> 01:46:53,031
and look into the day
2691
01:46:53,260 --> 01:46:54,260
easiest the way to.
2692
01:46:54,640 --> 01:46:55,659
Figure out if this is.
2693
01:46:56,140 --> 01:47:00,219
Acura is looking where we spent the most
time in the day did we get the most volume
2694
01:47:00,400 --> 01:47:01,400
yeah we did.
2695
01:47:01,900 --> 01:47:02,900
Y to see here.
2696
01:47:04,330 --> 01:47:06,730
So will you do is basically the.
2697
01:47:07,900 --> 01:47:09,760
Margaret profile as
you just collapse it.
2698
01:47:10,390 --> 01:47:11,950
So you can actually palm.
2699
01:47:12,880 --> 01:47:15,160
You know said this cake
and come down here and.
2700
01:47:16,060 --> 01:47:17,110
Blocker said like the
2701
01:47:17,262 --> 01:47:17,590
the.
2702
01:47:18,130 --> 01:47:21,190
Puzzle games where those
I used to play Tetris and thus.
2703
01:47:21,640 --> 01:47:22,540
You know what you see
2704
01:47:22,660 --> 01:47:25,840
we just got one blog is going to be thin
but where blocks of building on top of each
2705
01:47:25,840 --> 01:47:26,170
other.
2706
01:47:26,710 --> 01:47:29,890
So have a look at it obvious surely you can
play around with this as much as you want
2707
01:47:29,890 --> 01:47:31,250
I'm going to give
you the template.
2708
01:47:31,720 --> 01:47:32,720
And.
2709
01:47:33,610 --> 01:47:34,610
So I hope.
2710
01:47:38,980 --> 01:47:42,640
Take are so does she has combined
now so let's do that few times.
2711
01:47:43,975 --> 01:47:44,208
She
2712
01:47:44,410 --> 01:47:45,890
the cape here to
there I'm just gonna.
2713
01:47:46,330 --> 01:47:49,660
Drop them on top of each of
US so I can see was any overlap
2714
01:47:49,960 --> 01:47:50,560
I e
2715
01:47:50,740 --> 01:47:53,200
more time spent a price.
2716
01:47:53,743 --> 01:47:55,060
A particular prices.
2717
01:47:55,868 --> 01:47:56,868
Must have been nook.
2718
01:48:03,310 --> 01:48:04,310
Okay.
2719
01:48:04,420 --> 01:48:05,530
And by the way look.
2720
01:48:06,460 --> 01:48:07,927
Miss important
I say this is that
2721
01:48:08,144 --> 01:48:11,170
lot of guys are looking at
market prefer honestly in them.
2722
01:48:12,160 --> 01:48:15,400
Pretty much all institutions have
spoken to I would say you know
2723
01:48:15,521 --> 01:48:17,560
the mercy of number of people.
2724
01:48:18,310 --> 01:48:19,310
They look up.
2725
01:48:19,390 --> 01:48:22,030
Both volume profile
and market profile.
2726
01:48:22,360 --> 01:48:24,160
Just because if this reason the
2727
01:48:24,640 --> 01:48:27,580
and especially
experienced traders when.
2728
01:48:28,000 --> 01:48:29,110
Transparent volume.
2729
01:48:29,440 --> 01:48:30,440
A lava wasn't.
2730
01:48:30,670 --> 01:48:32,020
Readily available.
2731
01:48:32,500 --> 01:48:34,899
They obviously
used market profile
2732
01:48:35,110 --> 01:48:36,760
so there's tons of people.
2733
01:48:37,210 --> 01:48:39,520
Using market
profile don't think it's.
2734
01:48:39,850 --> 01:48:42,430
All you know you're the
only you know honestly.
2735
01:48:43,450 --> 01:48:45,820
There's loads of people
using this and in fact I even.
2736
01:48:46,240 --> 01:48:50,530
I saw someone using this and the
same colors or liked it the way it was
2737
01:48:50,740 --> 01:48:53,740
got the faded colors
going from a to k period so.
2738
01:48:54,174 --> 01:48:55,360
I actually
2739
01:48:55,570 --> 01:48:55,960
saw the
2740
01:48:56,140 --> 01:48:58,270
only good things
have actually found on.
2741
01:48:59,997 --> 01:49:00,700
The Internet
2742
01:49:00,940 --> 01:49:03,460
when it comes to treating is
actually some colors so so.
2743
01:49:04,540 --> 01:49:08,230
Yeah as she found these colors out there so
there is stuff out there there's a lot of
2744
01:49:08,230 --> 01:49:09,230
stuff out there but.
2745
01:49:09,550 --> 01:49:10,270
Like I said
2746
01:49:10,390 --> 01:49:14,110
that not necessary doing what i'm
about to show which is the combination.
2747
01:49:14,710 --> 01:49:15,370
So
2748
01:49:15,670 --> 01:49:17,440
the combination is essentially.
2749
01:49:18,970 --> 01:49:19,660
Would you agree.
2750
01:49:19,990 --> 01:49:21,880
This balance on this Friday.
2751
01:49:23,386 --> 01:49:24,910
Look there was balance here.
2752
01:49:27,130 --> 01:49:27,670
Thursday
2753
01:49:27,790 --> 01:49:28,790
and Friday.
2754
01:49:30,460 --> 01:49:32,020
Should you remember
I said I don't want
2755
01:49:32,230 --> 01:49:33,910
what can happen
if I use a weekly.
2756
01:49:34,240 --> 01:49:35,240
Profile.
2757
01:49:35,290 --> 01:49:39,160
She's going to be so out of shape and
I'm not going to use a weekly profile bot.
2758
01:49:39,850 --> 01:49:43,130
You can see it's going to be down here then
there's going to be very little volume.
2759
01:49:43,930 --> 01:49:46,660
And then there's almost a separate
distribution on Thursday Friday
2760
01:49:46,930 --> 01:49:48,220
how do I combine these two.
2761
01:49:48,730 --> 01:49:50,170
For look what volume profile
2762
01:49:50,381 --> 01:49:51,940
market profile allows US to do.
2763
01:49:55,840 --> 01:49:57,280
See that we can merging.
2764
01:49:57,880 --> 01:50:00,160
And actually what I do is and.
2765
01:50:01,888 --> 01:50:02,050
To
2766
01:50:02,260 --> 01:50:03,260
do that.
2767
01:50:03,370 --> 01:50:04,990
I don't actually use it.
2768
01:50:05,560 --> 01:50:07,030
Necessarily.
2769
01:50:08,200 --> 01:50:12,100
With the volume profile because too much
can you see this too many things going on.
2770
01:50:12,730 --> 01:50:16,570
So why do it and don't worry I'll settle
this stuff up for years I just get rid of
2771
01:50:16,570 --> 01:50:17,650
the volume profile.
2772
01:50:18,430 --> 01:50:20,349
Pics is fairly accurate
you can see show
2773
01:50:20,530 --> 01:50:21,940
in fact lustrous lustrous.
2774
01:50:22,330 --> 01:50:25,390
Make yourselves comfortable
dice very closely aligned
2775
01:50:25,780 --> 01:50:27,790
to volume profile
can you see here.
2776
01:50:29,020 --> 01:50:30,910
Very little time spent on there.
2777
01:50:31,780 --> 01:50:32,780
And then.
2778
01:50:35,260 --> 01:50:37,570
Obviously there
was a lot of time.
2779
01:50:37,960 --> 01:50:39,040
Spent in his region.
2780
01:50:40,419 --> 01:50:41,419
Nicholas.
2781
01:50:45,280 --> 01:50:46,280
Okay.
2782
01:50:47,081 --> 01:50:48,081
And.
2783
01:50:48,280 --> 01:50:49,480
The very similar on day
2784
01:50:49,630 --> 01:50:50,630
so.
2785
01:50:52,124 --> 01:50:53,320
What I do is.
2786
01:50:53,699 --> 01:50:55,368
His of get rid of the.
2787
01:50:56,950 --> 01:50:58,360
Profile on I'll show you
2788
01:50:58,510 --> 01:50:59,510
basically what
2789
01:50:59,560 --> 01:51:00,970
the enables US to do.
2790
01:51:01,990 --> 01:51:04,180
So let me just quicken
get rid of those apologies
2791
01:51:04,300 --> 01:51:05,300
for the delay.
2792
01:51:08,050 --> 01:51:08,410
Okay
2793
01:51:08,531 --> 01:51:09,220
to rest
2794
01:51:09,460 --> 01:51:10,810
on his face just.
2795
01:51:11,710 --> 01:51:13,390
For art isn't it beautiful.
2796
01:51:17,260 --> 01:51:18,760
Still gives me that little.
2797
01:51:19,450 --> 01:51:21,610
Excitement whenever
I see this stuff so
2798
01:51:21,910 --> 01:51:23,618
yeah what this allows
US to do obviously
2799
01:51:23,740 --> 01:51:23,951
crew
2800
01:51:24,100 --> 01:51:26,860
has been very volatile to
the profiles won't necessarily.
2801
01:51:27,460 --> 01:51:28,460
And.
2802
01:51:29,468 --> 01:51:32,138
Be this big in when we go
through and do some examples.
2803
01:51:32,618 --> 01:51:33,938
Were going to do a nice
2804
01:51:34,238 --> 01:51:36,280
balance periods
bogalusa look at volatile
2805
01:51:36,463 --> 01:51:37,463
is nothing wrong with it.
2806
01:51:37,904 --> 01:51:40,208
I'm just saying that
look the profiles one
2807
01:51:40,328 --> 01:51:43,118
obviously necessarily be
this big is because of ranges.
2808
01:51:43,448 --> 01:51:45,878
As you know crude at the
moment is very volatile shop.
2809
01:51:46,358 --> 01:51:47,558
If our combined look
2810
01:51:47,708 --> 01:51:48,758
merchant the next book
2811
01:51:48,878 --> 01:51:49,878
can you see it.
2812
01:51:50,078 --> 01:51:51,078
Unbelievable isn't it.
2813
01:51:51,728 --> 01:51:52,418
But now
2814
01:51:52,628 --> 01:51:53,628
that sorry.
2815
01:51:53,918 --> 01:51:54,428
Just on
2816
01:51:54,608 --> 01:51:55,608
the.
2817
01:51:57,042 --> 01:51:59,528
Remember before I was
saying it was really frustrated.
2818
01:52:00,158 --> 01:52:01,778
That are can combine nice.
2819
01:52:02,348 --> 01:52:03,968
Because I used to
think there was value
2820
01:52:04,388 --> 01:52:05,388
and.
2821
01:52:05,768 --> 01:52:07,298
Obviously for the day here
2822
01:52:07,748 --> 01:52:09,218
and then in this
the here as walk
2823
01:52:09,428 --> 01:52:10,428
through minutes of brew
2824
01:52:10,568 --> 01:52:11,568
bring them together
2825
01:52:11,858 --> 01:52:15,818
rather than looking at the weekly together
where value might be all for whatever.
2826
01:52:16,688 --> 01:52:17,708
So I can do that now
2827
01:52:17,828 --> 01:52:19,298
so let's just to let me
2828
01:52:19,409 --> 01:52:20,409
show you that I can.
2829
01:52:21,728 --> 01:52:22,118
And of
2830
01:52:22,328 --> 01:52:26,138
and you be you see why I do it
as soon as I do it so we combine.
2831
01:52:27,698 --> 01:52:28,118
Merchant
2832
01:52:28,268 --> 01:52:30,008
look look out nicely the.
2833
01:52:30,338 --> 01:52:31,478
Balance becomes
2834
01:52:31,748 --> 01:52:33,788
why because you've got balance.
2835
01:52:34,448 --> 01:52:35,448
Overall.
2836
01:52:35,798 --> 01:52:37,778
Very balanced days
2837
01:52:38,228 --> 01:52:40,448
and what is balance
with balance create.
2838
01:52:40,808 --> 01:52:42,068
Really non violence
2839
01:52:42,518 --> 01:52:44,108
and therefore these value areas.
2840
01:52:45,728 --> 01:52:47,378
Of fair a very.
2841
01:52:48,038 --> 01:52:49,328
Accurate than nice
2842
01:52:49,808 --> 01:52:51,308
and when the market moves out.
2843
01:52:52,028 --> 01:52:53,028
Of here.
2844
01:52:53,108 --> 01:52:56,438
And I mean obviously the
O'Donnell very open the next day but.
2845
01:52:57,428 --> 01:53:00,758
In know generally what will be
looking into a Marcus the the imbalance
2846
01:53:01,058 --> 01:53:02,318
or they could reject.
2847
01:53:02,738 --> 01:53:06,308
Going imbalance in a comeback to
balance and move to the the side of valley.
2848
01:53:07,358 --> 01:53:10,868
And you see just how well this
works he works very very well.
2849
01:53:11,288 --> 01:53:15,218
Not cause it's magic don't start
tomorrow or said be very careful about.
2850
01:53:15,578 --> 01:53:16,598
How use these.
2851
01:53:17,258 --> 01:53:18,258
Both.
2852
01:53:18,338 --> 01:53:20,348
It works because that's where.
2853
01:53:21,128 --> 01:53:22,778
The iPhone prices or.
2854
01:53:23,259 --> 01:53:25,538
You see the market
those who like to test.
2855
01:53:26,528 --> 01:53:28,688
These areas because
as you know balance isn't.
2856
01:53:29,138 --> 01:53:32,138
Particularly generally one price
but we've already covered this.
2857
01:53:32,528 --> 01:53:34,358
In ultra market theory
I don't necessarily
2858
01:53:34,658 --> 01:53:37,538
is saw the point of this section
the section is to show you wall.
2859
01:53:38,078 --> 01:53:38,648
And
2860
01:53:38,918 --> 01:53:39,158
t.
2861
01:53:39,576 --> 01:53:41,318
Are or walk market
profile is and
2862
01:53:41,558 --> 01:53:42,068
will get one
2863
01:53:42,183 --> 01:53:43,183
all of this.
2864
01:53:43,208 --> 01:53:44,408
In the second half of this and
2865
01:53:44,588 --> 01:53:47,798
of she's taking call walks are probably
it's going to be in an exception i'm.
2866
01:53:48,542 --> 01:53:49,080
A.
2867
01:53:49,478 --> 01:53:53,408
Bot so hopefully that gives you a good idea
of why abusing their staff and actually.
2868
01:53:54,098 --> 01:53:55,358
Let me just show you one
2869
01:53:55,478 --> 01:53:57,038
final thing.
2870
01:53:59,386 --> 01:54:04,178
Is the other reason the I like to
use this is because it does allow you.
2871
01:54:04,988 --> 01:54:05,408
To
2872
01:54:05,708 --> 01:54:06,756
split period to.
2873
01:54:08,408 --> 01:54:10,328
Okay so it's not necessarily.
2874
01:54:10,838 --> 01:54:11,838
The case here.
2875
01:54:12,188 --> 01:54:12,668
Bar
2876
01:54:12,908 --> 01:54:14,168
for example.
2877
01:54:16,118 --> 01:54:19,448
Yeah and this isn't a great example
because he should be overdone I wouldn't
2878
01:54:19,448 --> 01:54:20,828
necessarily want to do this.
2879
01:54:21,428 --> 01:54:23,858
By will show you this when
we start to develop strategy.
2880
01:54:24,278 --> 01:54:25,538
Can you see in theory.
2881
01:54:26,408 --> 01:54:27,818
For some balance here
2882
01:54:27,938 --> 01:54:29,468
and then this
balance here as well.
2883
01:54:29,888 --> 01:54:32,288
So what you can do is
is great because it's not.
2884
01:54:32,888 --> 01:54:35,678
Think about is your individual
market orders a split well.
2885
01:54:36,008 --> 01:54:39,848
War can actually do is I can say
genoa what lemme split this some.
2886
01:54:40,718 --> 01:54:41,718
Period out.
2887
01:54:42,523 --> 01:54:45,368
Said you see the I split the
d period up let me split the.
2888
01:54:46,628 --> 01:54:49,430
Why paradigm okay and
dumber window whole section on
2889
01:54:49,541 --> 01:54:50,541
stuff.
2890
01:54:51,308 --> 01:54:52,988
A to can you see
voice allow me to do.
2891
01:54:54,280 --> 01:54:57,428
Snuggle one distribution and
I can actually combine this.
2892
01:54:58,118 --> 01:54:58,748
With this
2893
01:54:58,928 --> 01:54:59,928
okay.
2894
01:55:02,621 --> 01:55:03,128
Gita.
2895
01:55:03,638 --> 01:55:04,838
So actually split.
2896
01:55:05,815 --> 01:55:07,658
Very very accurately
2897
01:55:07,868 --> 01:55:08,138
got.
2898
01:55:08,678 --> 01:55:11,048
Value there and now of I'm here
2899
01:55:11,498 --> 01:55:13,598
to see the have actually
been able to split.
2900
01:55:14,408 --> 01:55:15,408
This.
2901
01:55:15,968 --> 01:55:16,688
This
2902
01:55:16,838 --> 01:55:17,678
and this how
2903
01:55:17,798 --> 01:55:18,798
some amazing isn't it.
2904
01:55:19,418 --> 01:55:22,208
Thus the power
of market profiled.
2905
01:55:22,778 --> 01:55:25,628
Not from an indicator
perspective it just allows US.
2906
01:55:26,168 --> 01:55:28,628
To really identify true value.
2907
01:55:29,048 --> 01:55:29,558
True
2908
01:55:29,708 --> 01:55:30,938
value balance.
2909
01:55:31,328 --> 01:55:32,708
Don't think of value.
2910
01:55:33,278 --> 01:55:34,278
As.
2911
01:55:34,628 --> 01:55:38,799
Just in terms of statistical terms where
I talk about the coffee and shape the.
2912
01:55:39,518 --> 01:55:40,568
Showing the bell curve.
2913
01:55:41,138 --> 01:55:44,978
The normal distribution and the wonderful
obviously mathematical properties when
2914
01:55:44,978 --> 01:55:45,978
you've got.
2915
01:55:46,119 --> 01:55:49,928
And balance the values going to be obviously
no hundred percent accurate because we
2916
01:55:49,928 --> 01:55:50,928
don't know.
2917
01:55:50,978 --> 01:55:54,698
Those of you are familiar with statistics
you can always get fat tails obviously when
2918
01:55:54,698 --> 01:55:55,979
you're trying to
forecast or get.
2919
01:55:56,768 --> 01:55:57,768
But.
2920
01:55:57,818 --> 01:55:58,818
Generally.
2921
01:55:59,018 --> 01:55:59,648
At least in to
2922
01:55:59,847 --> 01:56:02,258
measuring balance is
going to be very very good.
2923
01:56:02,828 --> 01:56:03,828
Though more.
2924
01:56:03,938 --> 01:56:05,078
Not because of
2925
01:56:05,245 --> 01:56:07,838
just because of this typical
book but because he balanced.
2926
01:56:08,438 --> 01:56:10,598
By the end of the day
have something balanced.
2927
01:56:11,858 --> 01:56:14,738
It's more likely to walk give
you good balance levels.
2928
01:56:15,128 --> 01:56:17,318
Really does what you
got take away from this.
2929
01:56:18,128 --> 01:56:20,408
Is the balance you want
to look for areas that all.
2930
01:56:21,788 --> 01:56:22,788
Nicely balanced.
2931
01:56:23,198 --> 01:56:25,598
Balance when you start
combining these as I said.
2932
01:56:26,108 --> 01:56:28,118
You start to
combined balance with
2933
01:56:28,298 --> 01:56:29,828
imbalance with balance women.
2934
01:56:30,158 --> 01:56:31,158
Do you know what I mean
2935
01:56:31,231 --> 01:56:33,998
you want to try and separate
them as much as possible so.
2936
01:56:35,018 --> 01:56:38,258
Truly exciting I'm really looking
forward to showing you this water
2937
01:56:38,498 --> 01:56:40,148
let me just finish off those.
2938
01:56:40,538 --> 01:56:42,998
Few bullet points re
really quickly ancona.
2939
01:56:43,718 --> 01:56:45,188
Literally rushed through them.
2940
01:56:45,818 --> 01:56:46,818
And.
2941
01:56:47,170 --> 01:56:48,170
And.
2942
01:56:48,578 --> 01:56:50,888
Then we're gonna
basically get on
2943
01:56:51,098 --> 01:56:53,648
and start building some of
these composites together
2944
01:56:54,098 --> 01:56:56,678
and I'm going to get you on the
chart building composites and bus
2945
01:56:56,827 --> 01:56:57,158
to be
2946
01:56:57,428 --> 01:56:59,798
how we do walk
bill trading level so.
2947
01:57:00,218 --> 01:57:01,498
You know just can
be motivate you
2948
01:57:01,658 --> 01:57:02,738
this is essentially.
2949
01:57:04,508 --> 01:57:05,508
Building.
2950
01:57:06,488 --> 01:57:07,777
Trading levels for US to.
2951
01:57:08,348 --> 01:57:09,348
Fade.
2952
01:57:10,508 --> 01:57:12,458
You know in a balance market or
2953
01:57:12,668 --> 01:57:14,078
in an imbalance Walker.
2954
01:57:16,508 --> 01:57:16,718
Here.
2955
01:57:17,078 --> 01:57:21,188
Take trait of such imbalance and the going
to different areas of balance it's all.
2956
01:57:21,608 --> 01:57:25,868
So very very close now appreciate that
you stuck with me or always been long.
2957
01:57:26,258 --> 01:57:29,558
Let's just finished quickly finished the
list of and then we can crack on and start
2958
01:57:29,558 --> 01:57:30,558
building some.
2959
01:57:30,758 --> 01:57:35,048
Areas to do some real business of okay
so what I've done is if you don't mind of
2960
01:57:35,048 --> 01:57:36,048
brewer all the.
2961
01:57:36,338 --> 01:57:38,270
Slide pack be essentially the.
2962
01:57:39,758 --> 01:57:40,538
Sorry the
2963
01:57:40,748 --> 01:57:41,768
terms game opinion.
2964
01:57:42,338 --> 01:57:46,409
So boss I just saw a be easier rather than
me blowing up and showing your and here
2965
01:57:46,430 --> 01:57:49,448
one and understandably show you
on my chart or there'll be really good.
2966
01:57:50,048 --> 01:57:52,538
And that can just take
you through some of these.
2967
01:57:53,078 --> 01:57:56,108
And but you know a support
the horny profile by conan
2968
01:57:56,258 --> 01:57:58,598
just because I want to
cover these first two so.
2969
01:57:59,408 --> 01:58:03,158
Base basically we already talked
about the point of control rye is the mode.
2970
01:58:03,608 --> 01:58:06,338
Where the most
transactions took place.
2971
01:58:06,788 --> 01:58:09,548
Now what is volume profile
was of see very accurate.
2972
01:58:09,938 --> 01:58:12,368
Because it's individual
market orders you know.
2973
01:58:12,698 --> 01:58:16,748
Right down if you go to hundred thousand
and two three four five hundred thousand.
2974
01:58:17,618 --> 01:58:18,618
Contracts and you
2975
01:58:18,818 --> 01:58:20,408
that I showed you
to go mobile volume
2976
01:58:20,618 --> 01:58:23,258
I for crude or was what
eight nine hundred thousand.
2977
01:58:23,868 --> 01:58:25,568
About a five percent of
2978
01:58:25,734 --> 01:58:28,537
of six seven hundred thousand
contract so we know the exact number.
2979
01:58:28,928 --> 01:58:31,868
That took place in the on t h
session why said it was by I e percent.
2980
01:58:33,038 --> 01:58:35,408
We can tell to
the exact contract
2981
01:58:35,678 --> 01:58:36,678
price.
2982
01:58:36,729 --> 01:58:38,438
Or so the exact
price were that was.
2983
01:58:39,518 --> 01:58:41,198
Because if you
think of t p owes.
2984
01:58:41,558 --> 01:58:42,908
The only half period so
2985
01:58:43,178 --> 01:58:44,198
thus the mood right
2986
01:58:44,558 --> 01:58:47,678
and if you don't remember what I always
check back to the distribution section.
2987
01:58:48,368 --> 01:58:49,368
And.
2988
01:58:50,078 --> 01:58:50,468
In
2989
01:58:50,678 --> 01:58:51,248
and.
2990
01:58:51,638 --> 01:58:53,138
Which could at market profile.
2991
01:58:53,708 --> 01:58:55,628
More you see can
you see the k period.
2992
01:58:56,648 --> 01:58:59,138
They were all across
for prices okay
2993
01:58:59,438 --> 01:58:59,888
so
2994
01:59:00,008 --> 01:59:01,868
what he easy as I'm not gonna
2995
01:59:01,988 --> 01:59:04,748
a new also know it's valuer
we've covered it to death.
2996
01:59:06,848 --> 01:59:07,238
Okay
2997
01:59:07,359 --> 01:59:08,498
as the value area.
2998
01:59:09,937 --> 01:59:10,448
There's
2999
01:59:10,628 --> 01:59:11,628
seventy percent.
3000
01:59:12,638 --> 01:59:17,168
What you know is is
market profiles value
3001
01:59:17,168 --> 01:59:17,527
valuers ever so
slightly different and it's.
3002
01:59:17,978 --> 01:59:19,148
Point of control is
3003
01:59:19,268 --> 01:59:20,678
ever so slightly different.
3004
01:59:21,758 --> 01:59:27,758
Now obviously you know are not shirking
responsibility of spent a long time doing
3005
01:59:27,759 --> 01:59:29,081
theory with you causes
3006
01:59:29,258 --> 01:59:30,258
me know on.
3007
01:59:30,344 --> 01:59:33,608
I'm really really big on
understanding theory.
3008
01:59:33,938 --> 01:59:34,958
That you can't Google.
3009
01:59:35,378 --> 01:59:39,668
At the end of the day auto on a spend
for waste forty five minutes of your time.
3010
01:59:40,388 --> 01:59:43,627
When we've got much more important
than thanks to worry about about why.
3011
01:59:44,528 --> 01:59:44,948
Desert
3012
01:59:45,098 --> 01:59:46,928
ever so slight difference here.
3013
01:59:47,438 --> 01:59:48,438
In the valley area.
3014
01:59:48,998 --> 01:59:49,998
If anyone wants.
3015
01:59:50,318 --> 01:59:51,318
Contact me.
3016
01:59:51,608 --> 01:59:54,038
Or can take you
through exactly why.
3017
01:59:54,998 --> 01:59:57,847
But obviously it will take
time to explain in automotive.
3018
01:59:58,224 --> 02:00:00,308
Know we've already gone
on for ages here na da.
3019
02:00:00,638 --> 02:00:01,208
Ba.
3020
02:00:01,598 --> 02:00:02,598
Also so.
3021
02:00:03,368 --> 02:00:04,418
I'm pointing out
3022
02:00:04,598 --> 02:00:06,938
because is important I
like to let people know.
3023
02:00:07,388 --> 02:00:09,098
That there is a
slight variation.
3024
02:00:09,758 --> 02:00:12,188
Because of this
problem around and.
3025
02:00:12,788 --> 02:00:13,788
The mood.
3026
02:00:14,078 --> 02:00:17,168
In the market profile can
sometimes be at the same price but.
3027
02:00:17,498 --> 02:00:18,638
Look at the difference.
3028
02:00:20,378 --> 02:00:25,298
As I said you gotta be no obsessive
about slight variation to look.
3029
02:00:25,958 --> 02:00:27,278
They're virtually.
3030
02:00:27,788 --> 02:00:29,708
About the same some times.
3031
02:00:30,248 --> 02:00:31,838
As you can see
here just noticed it.
3032
02:00:32,288 --> 02:00:35,108
They can varies you
know a little bit part.
3033
02:00:37,508 --> 02:00:42,518
I can take any one through exactly how it's
calculated why is et cetera et cetera and
3034
02:00:42,518 --> 02:00:45,938
may be in the future of my under
section in the honestly you can Google it.
3035
02:00:46,598 --> 02:00:47,648
Is explained.
3036
02:00:48,218 --> 02:00:50,948
Really well in the books
that I told you about.
3037
02:00:51,278 --> 02:00:54,788
In where's the value
at I'm looking to be able
3038
02:00:54,788 --> 02:00:56,024
to add value to you
can find it on Google.
3039
02:00:56,048 --> 02:00:57,488
It would take this is a bit
3040
02:00:57,668 --> 02:00:57,927
does
3041
02:00:58,059 --> 02:01:00,368
to be involved that's
what is and I don't want to.
3042
02:01:00,998 --> 02:01:04,568
Start going off on tangents confusing
people would have just spent the last seven
3043
02:01:04,568 --> 02:01:06,308
hours doing theory or whatever.
3044
02:01:07,658 --> 02:01:09,548
So look there is
a slight difference.
3045
02:01:10,388 --> 02:01:12,608
But honestly it's no
important for trading.
3046
02:01:13,178 --> 02:01:14,178
And.
3047
02:01:14,558 --> 02:01:18,188
For me it doesn't make a difference him
are trading but yet technically if you want
3048
02:01:18,188 --> 02:01:18,608
to know
3049
02:01:18,848 --> 02:01:21,248
reach up to me drop me a
message and I'm happy to.
3050
02:01:21,698 --> 02:01:22,088
Either
3051
02:01:22,288 --> 02:01:25,598
the in or explain it to
you exactly to the take.
3052
02:01:26,048 --> 02:01:27,048
Why
3053
02:01:27,128 --> 02:01:27,488
the is
3054
02:01:27,608 --> 02:01:29,048
his value areas are.
3055
02:01:29,408 --> 02:01:32,978
Slightly different I mean it's
obvious that would be right because.
3056
02:01:33,428 --> 02:01:36,998
Obviously when you're calculating
your statistical distribution here.
3057
02:01:37,988 --> 02:01:38,988
It's using.
3058
02:01:39,188 --> 02:01:40,358
Individual
3059
02:01:40,748 --> 02:01:41,378
and
3060
02:01:41,648 --> 02:01:43,598
there are developed and
3061
02:01:43,868 --> 02:01:44,588
outcomes
3062
02:01:44,858 --> 02:01:45,858
right so it's
3063
02:01:45,998 --> 02:01:46,998
market orders
3064
02:01:47,078 --> 02:01:48,078
individual.
3065
02:01:48,220 --> 02:01:50,830
No these are not
market orders right it's it's
3066
02:01:51,310 --> 02:01:55,810
and then no individual transactions
is obviously data points using time
3067
02:01:56,260 --> 02:01:57,260
and.
3068
02:01:57,699 --> 02:02:01,000
Price so obviously the
way calculus this region is
3069
02:02:01,240 --> 02:02:02,740
slightly different to try and.
3070
02:02:03,100 --> 02:02:06,910
Be as closely aligned to help the
actual normal distribution but you can see.
3071
02:02:07,480 --> 02:02:11,200
To be involved so you know about don't
wanna lose people basically so again
3072
02:02:11,440 --> 02:02:14,320
so to repeat the
point but yeah if you're
3073
02:02:14,348 --> 02:02:15,560
really interested let
me know but otherwise.
3074
02:02:15,584 --> 02:02:18,490
I'm not really going to cover these
because we've already covered them
3075
02:02:18,970 --> 02:02:20,740
and with the volume
is called the v pok.
3076
02:02:21,070 --> 02:02:24,430
Which are you know if you said to someone
in any professional environment the park
3077
02:02:24,430 --> 02:02:26,320
download stray away
volume point of control.
3078
02:02:26,710 --> 02:02:27,970
From a volume professor
3079
02:02:28,150 --> 02:02:29,530
is exe roughly the same thing.
3080
02:02:29,920 --> 02:02:33,970
As the point of control the I already
discussed in the distribution section
3081
02:02:34,300 --> 02:02:36,879
but just to repeat it's
basically the area whether.
3082
02:02:37,330 --> 02:02:38,950
Most transactions took place
3083
02:02:39,190 --> 02:02:43,240
value area with disgust
death or milk on a
3084
02:02:43,241 --> 02:02:44,656
discuss it again I just
wanted to show you the.
3085
02:02:44,680 --> 02:02:45,220
Can you see
3086
02:02:45,341 --> 02:02:45,880
very
3087
02:02:46,000 --> 02:02:47,000
very similar.
3088
02:02:47,560 --> 02:02:49,090
Thus the value very high.
3089
02:02:49,690 --> 02:02:52,120
Thus devalues high
on of volume profile so.
3090
02:02:52,510 --> 02:02:56,500
Very very similar just wanted to show
you that the pretty much one in the same
3091
02:02:56,530 --> 02:02:57,880
obviously because of this.
3092
02:02:58,987 --> 02:03:00,250
Issue where is not.
3093
02:03:00,672 --> 02:03:01,810
Market data
3094
02:03:02,080 --> 02:03:05,680
it is obviously going to be more
accurate corner volume profile but.
3095
02:03:06,100 --> 02:03:09,790
We don't one hundred percent accuracy
we just want approximation to is fine.
3096
02:03:10,514 --> 02:03:13,420
The balance and imbalance
or milk and a cover it.
3097
02:03:13,750 --> 02:03:14,750
Because.
3098
02:03:14,890 --> 02:03:16,000
Nina we've covered it.
3099
02:03:16,750 --> 02:03:17,050
You know.
3100
02:03:17,770 --> 02:03:22,600
Probably more than some of the whole entire
forex causes of be speaking about balance
3101
02:03:22,600 --> 02:03:23,770
an imbalance of a worthy.
3102
02:03:24,398 --> 02:03:26,380
And covered it to
what I'm going to do is.
3103
02:03:26,740 --> 02:03:28,990
I'm sure very quickly
going to fly through
3104
02:03:29,260 --> 02:03:30,820
single prince excess his.
3105
02:03:31,660 --> 02:03:33,490
Poise and lows initial balance.
3106
02:03:34,300 --> 02:03:36,700
Etc bought just doing on the
3107
02:03:36,970 --> 02:03:40,450
we don't need to look at boarding profile
for these because these are quite specific
3108
02:03:40,450 --> 02:03:42,250
thinks to market
Prevacid gimme a second.
3109
02:03:43,360 --> 02:03:43,570
I.
3110
02:03:44,081 --> 02:03:46,120
Am going to just get
rid of volume provoq.
3111
02:03:46,570 --> 02:03:49,540
Okay so a got rid of the
volume profile and actually.
3112
02:03:49,990 --> 02:03:53,890
I'm just looking at it you won't be able
to see it but if you you can make a note of
3113
02:03:53,890 --> 02:03:55,450
a if you want but
the bullet points.
3114
02:03:55,750 --> 02:03:57,700
Is easier cause I
can have the whole.
3115
02:03:58,120 --> 02:04:02,260
Sure of screen to work wave but we'll
just go through them one by one so.
3116
02:04:02,980 --> 02:04:05,770
The first one is
a single prince.
3117
02:04:06,160 --> 02:04:06,610
So
3118
02:04:06,760 --> 02:04:07,449
single print
3119
02:04:07,630 --> 02:04:11,530
bodies cause I'm going to go for it is
really quickly of is if you want more detail.
3120
02:04:12,040 --> 02:04:15,370
Soul out that Google we can read
the books and whatever a don't.
3121
02:04:16,420 --> 02:04:21,250
See as I said ninety five ninety percent of
worst there I don't use it in the way that.
3122
02:04:22,540 --> 02:04:24,910
Is used by market profile guys.
3123
02:04:25,480 --> 02:04:26,650
But this is why said
3124
02:04:26,860 --> 02:04:29,230
prove it to yourself don't
just take my word for it.
3125
02:04:29,710 --> 02:04:30,070
Look
3126
02:04:30,280 --> 02:04:33,100
I mean I've got years of
observing this and I found that.
3127
02:04:33,880 --> 02:04:36,910
He she could take a lot of the stuff with
a pinch of salt because otherwise what
3128
02:04:36,910 --> 02:04:37,910
happens is.
3129
02:04:37,960 --> 02:04:38,500
You will know he
3130
02:04:38,619 --> 02:04:41,890
and that's why I wanted you to read
the market profile books his bow say.
3131
02:04:42,400 --> 02:04:44,920
Oh when this excess
hm happens and when.
3132
02:04:45,250 --> 02:04:47,290
Single prince happen and when
3133
02:04:47,470 --> 02:04:49,750
poor highs and lows
happened this has to happen.
3134
02:04:50,650 --> 02:04:52,150
And I'm like will actually
3135
02:04:52,300 --> 02:04:53,440
of been watching this.
3136
02:04:54,340 --> 02:04:55,450
A million times in it
3137
02:04:55,570 --> 02:04:56,570
hasn't happened
3138
02:04:56,770 --> 02:04:57,770
to she wanted me.
3139
02:04:58,090 --> 02:04:59,260
Approved it to myself.
3140
02:04:59,650 --> 02:05:01,420
Bottom won't just
because I tell you
3141
02:05:01,603 --> 02:05:04,390
are unwilling to do that I want
you to prove it yourself as well
3142
02:05:04,690 --> 02:05:07,331
along with the million other things
that obviously I'm showing you.
3143
02:05:07,902 --> 02:05:08,902
Do.
3144
02:05:09,040 --> 02:05:10,040
But women
3145
02:05:10,150 --> 02:05:15,130
obviously just for sake of completion are
out do want to explain very briefly what
3146
02:05:15,130 --> 02:05:15,580
they are.
3147
02:05:16,150 --> 02:05:17,150
And.
3148
02:05:17,290 --> 02:05:18,910
So single Princess
the first one.
3149
02:05:19,330 --> 02:05:20,230
Guy's very simple
3150
02:05:20,350 --> 02:05:21,350
just that.
3151
02:05:21,520 --> 02:05:23,050
Is where in a region
3152
02:05:23,170 --> 02:05:25,990
say you've got proof fall
obviously thus high to low.
3153
02:05:26,410 --> 02:05:27,640
Not necessary the value area.
3154
02:05:28,090 --> 02:05:30,970
Anywhere in here where
you've got single prince.
3155
02:05:31,450 --> 02:05:35,500
You see in volume profile oversee
thus meaningless is a market profile turn.
3156
02:05:36,250 --> 02:05:37,250
Can you see it that.
3157
02:05:37,960 --> 02:05:38,960
He period.
3158
02:05:39,280 --> 02:05:41,230
Between that price in that price
3159
02:05:41,440 --> 02:05:43,270
say around sixty two
3160
02:05:43,510 --> 02:05:45,760
this is crew or from a
few months ago by the way
3161
02:05:46,030 --> 02:05:48,370
sixty two twenty five
to sixty two thirty five.
3162
02:05:49,392 --> 02:05:51,310
The only printed the he period
3163
02:05:51,460 --> 02:05:52,210
single
3164
02:05:52,450 --> 02:05:53,080
prince.
3165
02:05:53,440 --> 02:05:54,460
Okay here.
3166
02:05:55,630 --> 02:05:56,630
This price.
3167
02:05:57,850 --> 02:05:59,710
Sixty three ten to.
3168
02:06:00,520 --> 02:06:01,180
Sixty three
3169
02:06:01,420 --> 02:06:01,938
by the way I
3170
02:06:02,110 --> 02:06:05,170
absolutely love maka profile
for is an obvious I love the state
3171
02:06:05,650 --> 02:06:08,020
and but yeah he
printed single prince hit.
3172
02:06:08,410 --> 02:06:12,430
Very versatile and I love volume profile
as well but of see each has its strengths
3173
02:06:12,430 --> 02:06:14,170
and weaknesses
combining them together.
3174
02:06:14,710 --> 02:06:16,510
When we get very advanced days.
3175
02:06:17,680 --> 02:06:18,680
Very powerful but.
3176
02:06:19,180 --> 02:06:19,600
Anyway.
3177
02:06:19,930 --> 02:06:21,160
Enough of that so.
3178
02:06:21,880 --> 02:06:23,770
Yeah single prince
you can see them there.
3179
02:06:24,310 --> 02:06:25,310
Can you see in that.
3180
02:06:25,510 --> 02:06:26,510
F period.
3181
02:06:27,010 --> 02:06:28,750
We can even break
this our for one.
3182
02:06:31,720 --> 02:06:33,730
Can see the market
just zipped through.
3183
02:06:34,120 --> 02:06:35,170
There was no overlap.
3184
02:06:35,530 --> 02:06:36,820
Thus will single prince hall.
3185
02:06:37,300 --> 02:06:40,415
What does it mean I mean this is the thing
you can read the book you tell you this
3186
02:06:40,420 --> 02:06:41,420
will tell you that.
3187
02:06:41,860 --> 02:06:45,580
Onto the to you for my own
experience but it means is that generally.
3188
02:06:47,225 --> 02:06:48,400
If you've gone through.
3189
02:06:48,850 --> 02:06:50,080
A period that will
3190
02:06:50,200 --> 02:06:51,790
balance over the swan.
3191
02:06:52,660 --> 02:06:53,170
And
3192
02:06:53,290 --> 02:06:55,390
so for example here
clearly the market
3193
02:06:55,540 --> 02:06:55,900
in I
3194
02:06:56,020 --> 02:06:57,640
opened it balanced and lucuma.
3195
02:06:58,030 --> 02:07:01,540
This area here then it came to over when
imbalance and then we balanced hear.
3196
02:07:02,170 --> 02:07:06,640
What you find from my experience and again
observed this yourself do not take my word
3197
02:07:06,640 --> 02:07:06,940
for it it.
3198
02:07:07,420 --> 02:07:08,440
Is less say.
3199
02:07:08,896 --> 02:07:11,770
I mean obviously here the
market kept out but let's say it didn't.
3200
02:07:12,370 --> 02:07:14,230
Dare say the a
period opened here
3201
02:07:14,680 --> 02:07:18,310
and then you bill obviously a bunch of as
you build a bunch of a's whatever on and.
3202
02:07:18,970 --> 02:07:21,130
Bs in bs in bs and.
3203
02:07:22,450 --> 02:07:23,829
C c c
3204
02:07:23,930 --> 02:07:25,150
which makes it all this up.
3205
02:07:25,540 --> 02:07:26,540
In earned.
3206
02:07:27,190 --> 02:07:28,190
These.
3207
02:07:29,348 --> 02:07:31,870
Know said this was kinda your
profile he started approaching.
3208
02:07:32,470 --> 02:07:33,610
This area and then.
3209
02:07:34,125 --> 02:07:35,125
He he
3210
02:07:35,260 --> 02:07:36,820
again on making this applies.
3211
02:07:37,510 --> 02:07:37,900
f
3212
02:07:38,020 --> 02:07:38,590
as it.
3213
02:07:39,040 --> 02:07:40,870
Comes into this
area we know says.
3214
02:07:41,950 --> 02:07:43,749
This will just zip through.
3215
02:07:44,080 --> 02:07:45,370
Typically that's what happens.
3216
02:07:46,570 --> 02:07:50,500
To in market terms will will happen is
a market will open and start to built on
3217
02:07:50,501 --> 02:07:51,501
balance and then.
3218
02:07:51,790 --> 02:07:52,960
He would just zip through
3219
02:07:53,095 --> 02:07:53,290
the
3220
02:07:53,770 --> 02:07:54,770
to see.
3221
02:07:55,180 --> 02:07:57,370
Why is the think about it
was up and in the past.
3222
02:07:57,730 --> 02:07:58,730
Imbalance.
3223
02:07:59,200 --> 02:07:59,800
What is.
3224
02:08:00,220 --> 02:08:02,200
A single print just
imbalances in it.
3225
02:08:02,830 --> 02:08:03,520
Balance
3226
02:08:03,700 --> 02:08:04,540
imbalance
3227
02:08:04,660 --> 02:08:05,660
balance
3228
02:08:05,710 --> 02:08:06,970
and see here ballet nz.
3229
02:08:07,450 --> 02:08:08,020
Came down
3230
02:08:08,170 --> 02:08:08,980
imbalance
3231
02:08:09,190 --> 02:08:10,190
balance.
3232
02:08:10,540 --> 02:08:12,460
Supermarkets doing all day long.
3233
02:08:12,940 --> 02:08:14,530
Imbalance balance imbalance
3234
02:08:14,920 --> 02:08:15,920
to hear.
3235
02:08:16,120 --> 02:08:17,980
Clearly if there
was no interest.
3236
02:08:19,180 --> 02:08:20,180
What's going to have.
3237
02:08:20,494 --> 02:08:21,494
It can be the same.
3238
02:08:21,880 --> 02:08:22,880
Generally
3239
02:08:23,020 --> 02:08:24,020
almost saying.
3240
02:08:24,250 --> 02:08:25,390
Every single time
3241
02:08:25,690 --> 02:08:26,690
this is the trouble.
3242
02:08:27,010 --> 02:08:30,100
When you read these books and what of
are willing to see for yourself that can be
3243
02:08:30,100 --> 02:08:31,100
very dogmatic.
3244
02:08:31,420 --> 02:08:31,930
Me.
3245
02:08:32,380 --> 02:08:33,669
I don't know it depends on
3246
02:08:33,880 --> 02:08:36,670
who the other factors
where's the v wife wears.
3247
02:08:37,000 --> 02:08:40,180
Value on a different perspective
where's this way as that is their.
3248
02:08:40,690 --> 02:08:42,280
Waterflow supportive.
3249
02:08:43,000 --> 02:08:46,270
Ten things come together yeah probably
using the pursuit to see what I mean.
3250
02:08:46,660 --> 02:08:48,040
Whereas the book to say nope.
3251
02:08:49,270 --> 02:08:50,709
Single prince got pushed room.
3252
02:08:51,430 --> 02:08:53,290
This is more point
when you start to really
3253
02:08:53,590 --> 02:08:54,590
develop.
3254
02:08:55,450 --> 02:08:58,570
A holistic understanding of
markets you can really started.
3255
02:08:59,381 --> 02:08:59,511
The
3256
02:08:59,740 --> 02:09:03,610
know whether the
staff is going to be a
3257
02:09:03,610 --> 02:09:03,940
support a factor or not
etc said was the best.
3258
02:09:04,450 --> 02:09:07,730
Single prints hopefully are offing or even
cover that probably better than the book
3259
02:09:08,020 --> 02:09:09,020
but.
3260
02:09:09,310 --> 02:09:10,430
Go read the book if you want
3261
02:09:10,720 --> 02:09:11,920
like I said or do it.
3262
02:09:12,370 --> 02:09:15,010
Because it is going to go into
a lot of detail about this stuff.
3263
02:09:15,820 --> 02:09:16,511
Personally of
3264
02:09:16,631 --> 02:09:17,770
US all you need to know bot.
3265
02:09:18,100 --> 02:09:18,921
Again figure out
3266
02:09:19,029 --> 02:09:19,510
yourself.
3267
02:09:19,900 --> 02:09:21,310
Then the excess.
3268
02:09:21,850 --> 02:09:22,850
Essentially.
3269
02:09:23,260 --> 02:09:24,430
Is just.
3270
02:09:24,761 --> 02:09:25,761
Do.
3271
02:09:25,900 --> 02:09:29,500
Their tails I haven't written down and
bullet point for they're basically buying and
3272
02:09:29,500 --> 02:09:30,730
selling tales.
3273
02:09:31,180 --> 02:09:32,530
She can see it here.
3274
02:09:33,762 --> 02:09:36,430
And sorry find that covering
any of this stock bought.
3275
02:09:36,850 --> 02:09:39,430
You can see loads of
tales you can you see that.
3276
02:09:40,600 --> 02:09:41,600
Tell their.
3277
02:09:43,990 --> 02:09:45,280
As a tail there.
3278
02:09:46,000 --> 02:09:47,000
As a tale.
3279
02:09:47,380 --> 02:09:48,380
As a tail
3280
02:09:48,430 --> 02:09:48,730
such
3281
02:09:48,850 --> 02:09:50,230
a single print spot
3282
02:09:50,380 --> 02:09:52,293
at the edges of profile.
3283
02:09:52,660 --> 02:09:54,430
They just tail which basically.
3284
02:09:55,150 --> 02:09:56,150
Excess.
3285
02:09:57,640 --> 02:09:59,171
Beshear including the word as
3286
02:09:59,410 --> 02:10:01,540
pre of US it means
that the market.
3287
02:10:02,050 --> 02:10:03,050
Though.
3288
02:10:03,760 --> 02:10:04,760
Excessive.
3289
02:10:05,092 --> 02:10:06,220
The periods of.
3290
02:10:06,730 --> 02:10:08,440
A period day you can see
3291
02:10:08,590 --> 02:10:09,590
what happened.
3292
02:10:10,120 --> 02:10:14,020
He did gap papa basically the market this
is a better exam because it up and off to
3293
02:10:14,020 --> 02:10:15,020
the market open.
3294
02:10:15,490 --> 02:10:16,930
Can you see that the see period.
3295
02:10:17,920 --> 02:10:18,920
Excessive.
3296
02:10:19,540 --> 02:10:20,540
Market got.
3297
02:10:21,190 --> 02:10:23,680
Over extended fry
simple Zach railey.
3298
02:10:25,630 --> 02:10:26,680
Her that he came back.
3299
02:10:27,160 --> 02:10:27,820
Down and what
3300
02:10:27,924 --> 02:10:32,319
what he is is utterly wise quite useful but
again you can read the book cause book
3301
02:10:32,320 --> 02:10:33,795
will give you loads
strategy from this
3302
02:10:33,819 --> 02:10:34,270
don't I don't.
3303
02:10:34,750 --> 02:10:36,400
Use any of our staff to me.
3304
02:10:37,930 --> 02:10:38,620
Personally.
3305
02:10:38,920 --> 02:10:41,470
I just like profile for the
merges and the spot.
3306
02:10:42,040 --> 02:10:46,090
The thing is I did you to get obsessive
and this is the point when I read the book.
3307
02:10:46,990 --> 02:10:48,880
The books and
obviously stuff August tall.
3308
02:10:49,540 --> 02:10:50,540
And.
3309
02:10:50,620 --> 02:10:54,642
In institutions and you know what people
told me and they will tell me by access
3310
02:10:54,743 --> 02:10:55,743
this and than.
3311
02:10:56,140 --> 02:10:58,630
Are still hereby all the time and
it does make me laugh cause.
3312
02:10:58,960 --> 02:11:00,370
I did used to get
quite obsessive a
3313
02:11:00,640 --> 02:11:00,790
it
3314
02:11:01,000 --> 02:11:04,480
and it was through experience
I realize that you know what.
3315
02:11:05,740 --> 02:11:09,610
At the end of the day there's
another nine factors that will determine.
3316
02:11:10,030 --> 02:11:12,280
Whether the excess
is useful in all.
3317
02:11:13,060 --> 02:11:16,180
As a stand alone basically
wise excess useful because.
3318
02:11:16,570 --> 02:11:18,040
Don't forget you could be.
3319
02:11:18,640 --> 02:11:21,070
So let's split this our
actually were split out.
3320
02:11:22,541 --> 02:11:23,541
The d period.
3321
02:11:24,250 --> 02:11:27,310
Think about it you could be one
and a half hours into the day right.
3322
02:11:28,248 --> 02:11:28,690
And.
3323
02:11:29,080 --> 02:11:31,990
I used to do this so I used
to watch market profile so.
3324
02:11:32,350 --> 02:11:34,870
You know as I said
his nine to nine thirty.
3325
02:11:35,230 --> 02:11:37,870
Nine thirty to ten
ten to ten thirty.
3326
02:11:38,440 --> 02:11:38,830
Right
3327
02:11:38,950 --> 02:11:40,900
and you can see even
told you where coached.
3328
02:11:41,470 --> 02:11:42,730
Content thirty he.
3329
02:11:43,090 --> 02:11:44,680
I can see all we've.
3330
02:11:45,790 --> 02:11:47,110
Produced excess
3331
02:11:47,530 --> 02:11:48,530
and therefore.
3332
02:11:48,790 --> 02:11:50,050
The public and a half to.
3333
02:11:50,500 --> 02:11:52,210
Unwind the excess.
3334
02:11:52,570 --> 02:11:53,920
Said the d period.
3335
02:11:54,250 --> 02:11:55,570
Is public and a pullback.
3336
02:11:56,170 --> 02:11:57,970
Okay so we can be useful.
3337
02:11:58,510 --> 02:11:59,510
But.
3338
02:12:00,640 --> 02:12:01,640
Well as I used to get
3339
02:12:01,690 --> 02:12:03,070
the ice get to stuck in a
3340
02:12:03,310 --> 02:12:05,260
move out looking at the
other things that to me.
3341
02:12:05,680 --> 02:12:08,200
Or more upon which will oversee
come unto you know like vu all
3342
02:12:08,320 --> 02:12:08,629
over.
3343
02:12:08,980 --> 02:12:10,840
Different time periods
and some of stuff.
3344
02:12:11,740 --> 02:12:15,640
All the flow of equally as important as
well accumulated delta which are looker.
3345
02:12:16,270 --> 02:12:18,490
So you can see why in theory.
3346
02:12:19,360 --> 02:12:23,170
On his own he is quite useful
people do like to look at excess.
3347
02:12:24,130 --> 02:12:24,190
a
3348
02:12:24,460 --> 02:12:25,460
a hopefully.
3349
02:12:26,442 --> 02:12:27,442
And.
3350
02:12:28,690 --> 02:12:29,740
That was usual for you
3351
02:12:29,860 --> 02:12:31,720
and then we look at
poor highs and Porter said.
3352
02:12:32,320 --> 02:12:32,830
This
3353
02:12:33,070 --> 02:12:34,990
is really interesting okay.
3354
02:12:35,500 --> 02:12:37,420
Poor highs and por los.
3355
02:12:38,590 --> 02:12:39,130
Can this war
3356
02:12:39,318 --> 02:12:43,150
you to read the book in not going see the
way I explained to you poor highs and Paul
3357
02:12:43,152 --> 02:12:44,710
as you'll never see explained.
3358
02:12:45,310 --> 02:12:49,270
Of know is this
there's a real lack of
3359
02:12:49,270 --> 02:12:49,480
understanding over was
actually happening here.
3360
02:12:50,170 --> 02:12:53,470
So there are pause and
polos do get taken out and.
3361
02:12:53,860 --> 02:12:56,920
Essentially can you see it's
called an unfinished option.
3362
02:12:57,550 --> 02:13:00,280
To see how generally the
ninety percent of the time you get
3363
02:13:00,460 --> 02:13:01,180
tales
3364
02:13:01,480 --> 02:13:02,480
you get access.
3365
02:13:03,370 --> 02:13:06,370
Right why is that because
the market blue star he will
3366
02:13:06,640 --> 02:13:08,980
excess and then you'll
come back animal balance.
3367
02:13:10,031 --> 02:13:11,031
The excess.
3368
02:13:11,620 --> 02:13:13,630
Overextend yourself
come back and buzzards.
3369
02:13:14,740 --> 02:13:16,420
Extend combat balance
3370
02:13:16,709 --> 02:13:18,610
extend combat balance.
3371
02:13:19,534 --> 02:13:20,830
Stand combat balance
3372
02:13:21,100 --> 02:13:23,740
open the day up there a period
come back in and balance.
3373
02:13:24,609 --> 02:13:25,119
And
3374
02:13:25,390 --> 02:13:28,450
and by the way I do apologize
if I didn't make that clear.
3375
02:13:29,710 --> 02:13:30,710
That.
3376
02:13:30,910 --> 02:13:33,040
You can see the open
and close is marked.
3377
02:13:34,360 --> 02:13:34,870
They're
3378
02:13:35,020 --> 02:13:36,020
right.
3379
02:13:37,001 --> 02:13:37,660
The blue
3380
02:13:37,810 --> 02:13:38,810
thus were opened.
3381
02:13:39,531 --> 02:13:42,460
The close acacia apologize
if I didn't say that before but.
3382
02:13:43,060 --> 02:13:44,290
That's why I'm saying opened
3383
02:13:44,467 --> 02:13:46,900
excess and came
back then he got excess.
3384
02:13:47,350 --> 02:13:47,890
Came back
3385
02:13:48,040 --> 02:13:49,270
but can you see on this day
3386
02:13:49,390 --> 02:13:50,500
bring any excess
3387
02:13:50,620 --> 02:13:51,187
h.
3388
02:13:51,580 --> 02:13:53,410
I k period they were all.
3389
02:13:54,490 --> 02:13:55,630
At the lowes and.
3390
02:13:56,440 --> 02:13:58,750
The those pier nineteen
and facilitate time.
3391
02:13:59,380 --> 02:14:00,850
They will get taken out bought.
3392
02:14:01,721 --> 02:14:02,721
In the book and.
3393
02:14:03,400 --> 02:14:03,999
Even in
3394
02:14:04,150 --> 02:14:08,200
institutions to some extent the way I
hear them being explained is wrong.
3395
02:14:08,770 --> 02:14:12,520
Basically let me see if a minor be able
to for they can see one there as well.
3396
02:14:13,630 --> 02:14:15,910
Por lo which got
taken out later on.
3397
02:14:17,260 --> 02:14:18,260
But yeah so.
3398
02:14:18,430 --> 02:14:20,290
That those a pretty solid
3399
02:14:20,440 --> 02:14:23,890
one star of was have shown
received as any of his other think.
3400
02:14:24,820 --> 02:14:25,820
There are also.
3401
02:14:26,411 --> 02:14:27,411
What he eases.
3402
02:14:28,633 --> 02:14:30,131
Is called an
unfinished auction or.
3403
02:14:30,490 --> 02:14:33,730
More basically the way I've
heard he explained his da.
3404
02:14:34,750 --> 02:14:35,750
Sellers.
3405
02:14:35,950 --> 02:14:39,310
Weren't able to do business
finish their business so.
3406
02:14:39,730 --> 02:14:40,899
In the way you get.
3407
02:14:41,500 --> 02:14:43,840
Access here
sellers were able to.
3408
02:14:44,890 --> 02:14:48,638
Do their business or be they go over
extended but they've done their business and
3409
02:14:48,640 --> 02:14:49,390
when they were done
3410
02:14:49,630 --> 02:14:50,320
climate fame
3411
02:14:50,500 --> 02:14:51,670
or the market.
3412
02:14:52,060 --> 02:14:53,170
Completed.
3413
02:14:53,830 --> 02:14:55,060
The selling auction.
3414
02:14:55,450 --> 02:14:56,450
Overhear.
3415
02:14:56,890 --> 02:14:58,480
There was no access
3416
02:14:58,630 --> 02:14:59,950
to complete the auction.
3417
02:15:00,491 --> 02:15:02,230
And what actually happened is.
3418
02:15:02,650 --> 02:15:04,300
The selling inventory.
3419
02:15:04,840 --> 02:15:05,840
And.
3420
02:15:06,430 --> 02:15:08,680
Basically needed to rebalance
3421
02:15:08,860 --> 02:15:11,950
so whopping days you can see there
were three periods so if you think of it.
3422
02:15:12,640 --> 02:15:13,900
In chart terms.
3423
02:15:14,290 --> 02:15:16,120
Because of quite
close together as know.
3424
02:15:17,500 --> 02:15:19,840
You can actually see
that by if you think of honor
3425
02:15:20,080 --> 02:15:23,650
five or ten minute chaw whatever if
you think about why she happened here.
3426
02:15:24,370 --> 02:15:25,960
Market was balance were a wall.
3427
02:15:26,350 --> 02:15:27,490
Then it came down.
3428
02:15:27,970 --> 02:15:29,020
Then he came up.
3429
02:15:29,530 --> 02:15:31,090
In a h period I period
3430
02:15:31,390 --> 02:15:32,410
came down.
3431
02:15:32,860 --> 02:15:33,116
Right
3432
02:15:33,285 --> 02:15:34,285
period.
3433
02:15:34,360 --> 02:15:36,639
Then came up for a
couple of periods again.
3434
02:15:37,150 --> 02:15:38,320
Then he came down.
3435
02:15:39,670 --> 02:15:40,000
Okay.
3436
02:15:40,420 --> 02:15:41,420
As is.
3437
02:15:41,920 --> 02:15:43,570
Mark his don't usually do this
3438
02:15:43,870 --> 02:15:46,772
they will usually as you know
they'll take stops our whatever.
3439
02:15:47,230 --> 02:15:49,000
The love this excess
type of action.
3440
02:15:49,450 --> 02:15:49,638
Where
3441
02:15:49,749 --> 02:15:50,980
more be life boom
3442
02:15:51,100 --> 02:15:51,772
and then thus it
3443
02:15:51,880 --> 02:15:53,480
on and then you move
higher don't you in.
3444
02:15:53,770 --> 02:15:54,770
Whatever.
3445
02:15:54,850 --> 02:15:56,260
To be excess.
3446
02:15:57,580 --> 02:15:58,580
And.
3447
02:15:58,960 --> 02:16:02,500
Where we can got flushed out or
whatever the reasons I was a monk.
3448
02:16:03,550 --> 02:16:07,360
Should this the way I've heard
explained his that was happening is that.
3449
02:16:07,960 --> 02:16:09,250
People have come down.
3450
02:16:09,550 --> 02:16:11,050
They weren't able to produce.
3451
02:16:11,650 --> 02:16:13,660
Excess they came
down again they weren't.
3452
02:16:14,380 --> 02:16:16,780
Able to finish the selling.
3453
02:16:17,260 --> 02:16:18,260
The sellers
3454
02:16:18,526 --> 02:16:20,050
selling inventory.
3455
02:16:20,410 --> 02:16:22,540
Needed to rebalance weak
3456
02:16:22,780 --> 02:16:24,100
hands needed to be.
3457
02:16:24,820 --> 02:16:26,110
Taken out before.
3458
02:16:26,944 --> 02:16:29,200
A renewed push on the
theory years therefore.
3459
02:16:30,280 --> 02:16:31,280
You'll get taken out.
3460
02:16:32,050 --> 02:16:34,840
And buy observation of unit
of you it does get taken out
3461
02:16:35,110 --> 02:16:37,943
by other understand this
whole weekend staying and.
3462
02:16:38,451 --> 02:16:42,759
I mean I get we can bottom get it in
the context of this the ways explain.
3463
02:16:43,451 --> 02:16:44,451
Actually the.
3464
02:16:44,950 --> 02:16:45,950
Was happening
3465
02:16:46,150 --> 02:16:48,609
and I know because obviously
you know a worked on a.
3466
02:16:49,510 --> 02:16:51,820
As you know when I was on
the sterling desk I worked in a.
3467
02:16:52,120 --> 02:16:54,910
Interbank environment and actually
will I tell you what's happening.
3468
02:16:56,380 --> 02:16:59,350
And even guys in provide training
clubs don't notice and are obviously I was
3469
02:16:59,350 --> 02:17:00,579
fortunate like I said to
3470
02:17:00,910 --> 02:17:04,030
to have worked on a desk
or a sora law of this flow.
3471
02:17:04,570 --> 02:17:07,120
Coming in in these areas
was actually happening is.
3472
02:17:08,530 --> 02:17:11,500
People the are game
long hair that placing stops.
3473
02:17:11,980 --> 02:17:16,480
So if you think of by a luck a cone
shape that some stops being placed here.
3474
02:17:17,440 --> 02:17:20,800
Okay then it flattens out for but then
you see here then more people get lump.
3475
02:17:21,340 --> 02:17:22,340
More stops.
3476
02:17:22,901 --> 02:17:24,400
The don't forget this stops
3477
02:17:24,520 --> 02:17:25,520
he are.
3478
02:17:26,260 --> 02:17:28,060
Being combined
with new stops here.
3479
02:17:30,221 --> 02:17:31,630
She can see the
stops are growing.
3480
02:17:32,801 --> 02:17:34,420
By the time you
get to the stage.
3481
02:17:35,200 --> 02:17:37,480
You've got the stops of
these lungs these lungs
3482
02:17:37,600 --> 02:17:40,210
and these little dust that
is actually was happening.
3483
02:17:41,170 --> 02:17:42,700
You won't find this
anywhere by the way
3484
02:17:42,942 --> 02:17:44,920
no nowhere have I seen this.
3485
02:17:45,460 --> 02:17:48,160
Though is awesome seeker and
the don't really make difference
3486
02:17:48,280 --> 02:17:48,670
to me.
3487
02:17:49,060 --> 02:17:52,804
Obviously of of said you know Ravi
be discreet about stuff but whatever
3488
02:17:52,960 --> 02:17:54,721
nothing's going to
make millions of this bot.
3489
02:17:55,090 --> 02:17:58,090
Point is at least you should know what's
happening rather than off the launch is I
3490
02:17:58,090 --> 02:17:59,090
hear about.
3491
02:17:59,440 --> 02:18:02,350
Unfinished auctions and one of
those who nonsense basically.
3492
02:18:02,800 --> 02:18:03,800
This is was happening.
3493
02:18:04,240 --> 02:18:05,890
Stops Guinea make sense right.
3494
02:18:06,580 --> 02:18:10,870
Long long long stop behind the low
long stop behind the low so I built up
3495
02:18:11,170 --> 02:18:13,600
long stock bonus each
get stopped by building.
3496
02:18:14,470 --> 02:18:15,880
Had the market knows this
3497
02:18:16,150 --> 02:18:17,150
and he needs to.
3498
02:18:18,010 --> 02:18:19,480
Clear out the inventory.
3499
02:18:19,900 --> 02:18:21,610
Before moving higher all.
3500
02:18:22,306 --> 02:18:24,310
Continue to continue
on his merry way.
3501
02:18:24,880 --> 02:18:25,880
But typically.
3502
02:18:26,200 --> 02:18:26,790
I do.
3503
02:18:27,100 --> 02:18:28,840
Pay attention to
this just because.
3504
02:18:29,350 --> 02:18:32,470
If you're trying to get long in this
area you probably one of the way
3505
02:18:32,620 --> 02:18:33,064
for
3506
02:18:33,310 --> 02:18:34,990
the stops to just be taken out.
3507
02:18:35,530 --> 02:18:37,480
Fairly especially
if they be walkers.
3508
02:18:38,410 --> 02:18:40,480
Ninety nine percent of
time the market is going to.
3509
02:18:41,743 --> 02:18:42,071
The alone
3510
02:18:42,190 --> 02:18:44,350
going a little bit off topic
here but it's important.
3511
02:18:45,070 --> 02:18:48,250
Cause books ain't gonna tell you this stuff
I'm telling you this from real trading
3512
02:18:48,250 --> 02:18:49,250
experience his that.
3513
02:18:50,590 --> 02:18:53,830
The problem however with
days of being obsessed with it.
3514
02:18:54,400 --> 02:18:57,820
Is have also noticed as if
you get an amazing set up for.
3515
02:18:58,210 --> 02:19:02,260
You know you got some amazing and textual
level air all the flourish strong again
3516
02:19:02,289 --> 02:19:03,580
value being built here.
3517
02:19:04,450 --> 02:19:05,450
And he got some great
3518
02:19:05,650 --> 02:19:07,960
achievable levels up here
and you've got this poor
3519
02:19:08,111 --> 02:19:08,366
down
3520
02:19:08,470 --> 02:19:10,150
cause I'm going
to take the trade.
3521
02:19:10,720 --> 02:19:11,110
Right.
3522
02:19:11,680 --> 02:19:14,290
Whereas people who
become obsessed with this.
3523
02:19:15,160 --> 02:19:17,470
They're gonna say NY
nice the going to miss out
3524
02:19:17,620 --> 02:19:18,620
okay.
3525
02:19:18,940 --> 02:19:20,470
And this is why say
3526
02:19:20,620 --> 02:19:21,741
don't just take my word for.
3527
02:19:22,090 --> 02:19:25,540
Watch out for these things a new
will as you develop as a trader so.
3528
02:19:26,560 --> 02:19:26,890
I.
3529
02:19:27,400 --> 02:19:30,940
Actually think of explained poor eyes
of los better than the book but again
3530
02:19:31,360 --> 02:19:34,210
and I don't mean nine arrogant way
you know I'm obviously being quiet.
3531
02:19:34,780 --> 02:19:35,350
And
3532
02:19:35,500 --> 02:19:39,340
serious about that is obviously of a feel
of given you stuff you're not gonna get.
3533
02:19:40,004 --> 02:19:41,004
Of a book.
3534
02:19:42,730 --> 02:19:43,990
Two k and then.
3535
02:19:44,920 --> 02:19:45,920
The last thing
3536
02:19:46,079 --> 02:19:47,079
is.
3537
02:19:47,620 --> 02:19:51,850
This let US versus blocked by let me come
back to the in a second as initial balance
3538
02:19:52,150 --> 02:19:55,540
which are not really going to
cover any detail we are all it is is.
3539
02:19:56,140 --> 02:19:58,600
Can you see this a
period his thirty minutes.
3540
02:19:59,680 --> 02:20:01,330
This be period is
an x thirty minutes.
3541
02:20:02,560 --> 02:20:04,480
A law of people
I don't look at it
3542
02:20:04,720 --> 02:20:05,560
the law of people
3543
02:20:05,740 --> 02:20:08,680
and you can read on Google about this i'm
not going to cover in depth cause I didn't
3544
02:20:08,680 --> 02:20:09,680
even look at it.
3545
02:20:09,880 --> 02:20:12,190
But they like to look
at this as the initial.
3546
02:20:13,000 --> 02:20:15,160
Violence period some people use
3547
02:20:15,550 --> 02:20:16,550
and.
3548
02:20:17,050 --> 02:20:19,360
A doula I'm going to be
once sugar do you like to use.
3549
02:20:19,780 --> 02:20:21,760
Five minutes sometimes both.
3550
02:20:22,300 --> 02:20:24,640
I don't use the initial
balance I used a
3551
02:20:24,801 --> 02:20:26,920
to look at the market
in the first five minutes.
3552
02:20:27,520 --> 02:20:28,520
And the reason.
3553
02:20:28,840 --> 02:20:29,860
People duda.
3554
02:20:30,400 --> 02:20:33,940
And and the reason that's not the initial
ballots the initial balance is one hour
3555
02:20:34,000 --> 02:20:35,000
generally.
3556
02:20:35,976 --> 02:20:36,098
I.
3557
02:20:36,673 --> 02:20:37,914
Think that's too long a period.
3558
02:20:38,200 --> 02:20:41,714
The reason people do that is because
luck I told you the pit open and people get
3559
02:20:41,822 --> 02:20:42,822
business done.
3560
02:20:43,210 --> 02:20:45,010
So what you will know he says
3561
02:20:45,160 --> 02:20:46,240
the theory is.
3562
02:20:47,290 --> 02:20:49,060
That it gives you very good.
3563
02:20:50,320 --> 02:20:51,790
Let me find a good example.
3564
02:20:52,541 --> 02:20:54,937
You see why don't even like
he if the end up cherry picking
3565
02:20:55,150 --> 02:20:56,980
and I don't really
find that crepe of.
3566
02:20:57,460 --> 02:20:59,320
The theory behind
the I'll tell you anyway.
3567
02:20:59,650 --> 02:21:01,120
The initial balance period is
3568
02:21:01,480 --> 02:21:03,370
and I do know a lot
of people that look at it
3569
02:21:03,580 --> 02:21:04,660
looks at pissy or though.
3570
02:21:05,591 --> 02:21:07,810
A and b thus one
hour right we know
3571
02:21:07,960 --> 02:21:11,320
a is hoffner be as hoffner so
what people do as they take.
3572
02:21:12,700 --> 02:21:15,280
These is contextual
level so the high.
3573
02:21:16,030 --> 02:21:19,750
And the load essentially of
the the call the initial balance hi.
3574
02:21:20,470 --> 02:21:20,860
Okay.
3575
02:21:21,191 --> 02:21:22,990
The initial balance low.
3576
02:21:24,220 --> 02:21:28,090
Low if you say this to anyone in a professional
far they're going to know we took my
3577
02:21:28,094 --> 02:21:29,094
stray away.
3578
02:21:29,995 --> 02:21:30,995
And.
3579
02:21:31,060 --> 02:21:35,260
And essentially you either looking for
rejection at the initial buttons high or.
3580
02:21:35,740 --> 02:21:37,450
Of see here you see the market.
3581
02:21:37,930 --> 02:21:40,630
Went not built some value
and then when imbalance
3582
02:21:40,793 --> 02:21:43,090
case or our lockers at
other metal use it bulk.
3583
02:21:43,570 --> 02:21:47,320
Diet for completion of she let you know
about you can read lots about on the net.
3584
02:21:47,950 --> 02:21:51,970
What easy is basically the
reason why is popular is obviously.
3585
02:21:52,541 --> 02:21:53,541
And.
3586
02:21:53,800 --> 02:21:54,800
Pit.
3587
02:21:54,910 --> 02:21:58,120
Volume is taking
place a cassette kinda.
3588
02:21:59,290 --> 02:22:04,113
First period hina so
law people gain orders
3589
02:22:04,120 --> 02:22:04,420
dawn and business has
been done for the date.
3590
02:22:04,750 --> 02:22:07,930
So the theory is
direction is being set.
3591
02:22:08,260 --> 02:22:09,700
In the first hour so.
3592
02:22:11,470 --> 02:22:12,470
Something that.
3593
02:22:12,910 --> 02:22:16,690
Other particularly use I use a shorter
period but we can speak about that later.
3594
02:22:17,320 --> 02:22:17,950
And
3595
02:22:18,132 --> 02:22:19,930
the dust the initial
balance and then
3596
02:22:20,200 --> 02:22:22,270
finally coys is.
3597
02:22:23,231 --> 02:22:24,640
Of gonna be honest with you.
3598
02:22:25,360 --> 02:22:28,150
I agree prefer I don't
like using the letters.
3599
02:22:28,570 --> 02:22:29,020
Okay
3600
02:22:29,470 --> 02:22:30,470
and.
3601
02:22:31,150 --> 02:22:32,890
I actually prefer using.
3602
02:22:33,490 --> 02:22:35,560
Block said there is this option
3603
02:22:35,717 --> 02:22:37,180
many sought to you will use.
3604
02:22:38,320 --> 02:22:38,470
I.
3605
02:22:39,250 --> 02:22:41,380
Can use letters or
you can use blocks.
3606
02:22:42,400 --> 02:22:42,640
Okay
3607
02:22:42,850 --> 02:22:43,850
now unfortunately.
3608
02:22:44,260 --> 02:22:45,260
The charts gone.
3609
02:22:45,520 --> 02:22:46,520
Haywire bar.
3610
02:22:46,750 --> 02:22:49,390
Okay sorry but I yeah you
can see the charges when a be.
3611
02:22:49,990 --> 02:22:54,220
Decided to get his mind of it's own
there for a second by actually it was good.
3612
02:22:54,580 --> 02:22:57,772
They did that because it why
decided to do in is much better is
3613
02:22:57,975 --> 02:22:58,068
a
3614
02:22:58,240 --> 02:23:00,820
afford at you show you
the letters and the blocks.
3615
02:23:01,390 --> 02:23:02,560
So day you can see it
3616
02:23:02,682 --> 02:23:08,020
por lo that we discard star there's the
initial balance the a period be period.
3617
02:23:08,590 --> 02:23:09,700
To remember and we said
3618
02:23:09,820 --> 02:23:12,910
that was the initial balance low and
high and then it just went imbalance or.
3619
02:23:13,300 --> 02:23:15,700
You can see the
exact same thing here.
3620
02:23:16,660 --> 02:23:17,980
And there can you see the Paulo.
3621
02:23:18,460 --> 02:23:19,600
With the three dots.
3622
02:23:20,020 --> 02:23:21,070
Moody easy's.
3623
02:23:21,670 --> 02:23:22,670
I mean it's up to.
3624
02:23:22,990 --> 02:23:27,100
By used to be quite obsessed with
market profound luck I set up very quickly.
3625
02:23:27,520 --> 02:23:31,330
Stopped any behaviors where I
started to notice myself becoming.
3626
02:23:32,481 --> 02:23:35,380
A little bit too like
rules-based and things and.
3627
02:23:35,890 --> 02:23:38,020
I just got rid of the
les abuse of your don't
3628
02:23:38,290 --> 02:23:39,290
really find.
3629
02:23:39,640 --> 02:23:40,880
The letters and he used because
3630
02:23:40,960 --> 02:23:44,530
he was actually live people were saying oh
dear you see Robin in a period of the see
3631
02:23:44,530 --> 02:23:46,180
period the decent d period and.
3632
02:23:47,677 --> 02:23:48,677
I just stopped that.
3633
02:23:49,090 --> 02:23:53,140
At once I was like you know what let
me use it for why originally wanted to use
3634
02:23:53,140 --> 02:23:54,430
default which is to merge.
3635
02:23:54,940 --> 02:23:55,940
And to build.
3636
02:23:56,200 --> 02:23:58,060
Nice balance theories.
3637
02:23:58,510 --> 02:23:59,620
So for me thus a.
3638
02:24:00,160 --> 02:24:04,210
Ba again I one you to go on that
journey is an incredibly useful journey.
3639
02:24:04,540 --> 02:24:06,730
Few want to play around
with is a brilliant all
3640
02:24:06,970 --> 02:24:08,620
and come to the
conclusion yourself.
3641
02:24:09,280 --> 02:24:10,720
Or you can do what I do
3642
02:24:11,151 --> 02:24:12,151
and.
3643
02:24:12,844 --> 02:24:13,990
I'm gonna be.
3644
02:24:14,620 --> 02:24:15,119
Warmongering
3645
02:24:15,251 --> 02:24:16,251
year going forward
3646
02:24:16,472 --> 02:24:17,710
I'm not going to show.
3647
02:24:19,300 --> 02:24:21,970
Any of these because
this isn't a market profile
3648
02:24:22,090 --> 02:24:24,430
of course at the
end of the day this is.
3649
02:24:25,300 --> 02:24:25,570
You know
3650
02:24:25,780 --> 02:24:29,170
combining many factors
together and really this is a.
3651
02:24:29,680 --> 02:24:31,900
Dangerous thing for
me to do if I was does
3652
02:24:32,200 --> 02:24:35,385
start pointing excesses our and
single prince and this and that.
3653
02:24:36,406 --> 02:24:40,690
Would be any favors in my opinion by osha
do think because I've said many times that
3654
02:24:40,691 --> 02:24:41,020
you should.
3655
02:24:41,590 --> 02:24:43,840
Maybe try the lows
for a bit and see.
3656
02:24:44,350 --> 02:24:46,480
View reach the same
conclude Jean as me bar
3657
02:24:46,720 --> 02:24:47,720
on.
3658
02:24:47,920 --> 02:24:51,760
Yeah I just want to make it clear that i'm
not gonna use these letters going forward.
3659
02:24:52,480 --> 02:24:55,750
For the those reasons or about
ninety percent of but also look.
3660
02:24:57,010 --> 02:25:01,960
A can see one two three
four may be half their
3661
02:25:01,960 --> 02:25:02,350
a few professor he
look how many I can see.
3662
02:25:02,860 --> 02:25:03,860
Loads
3663
02:25:04,092 --> 02:25:06,130
because he's so
much more information.
3664
02:25:07,480 --> 02:25:08,480
And I'm not bothered
3665
02:25:08,590 --> 02:25:10,750
about these little tales
and this and it doesn't.
3666
02:25:11,380 --> 02:25:12,380
Do it for me.
3667
02:25:12,490 --> 02:25:16,510
From observation obviously are proved it
to myself when I mentioned this at the star
3668
02:25:16,510 --> 02:25:17,140
of deception
3669
02:25:17,440 --> 02:25:19,760
where I talked about the book
and you can probably see boy.
3670
02:25:20,080 --> 02:25:21,940
Cause I went
through that process.
3671
02:25:22,630 --> 02:25:24,774
Not am some people
did warn me about a.
3672
02:25:25,390 --> 02:25:25,780
Ba
3673
02:25:26,230 --> 02:25:27,750
and some people
Tommy was amazed thing.
3674
02:25:28,090 --> 02:25:28,870
I said you know what
3675
02:25:28,995 --> 02:25:30,340
do is figure out for myself.
3676
02:25:30,670 --> 02:25:31,670
Let me read.
3677
02:25:32,416 --> 02:25:34,240
Most out there the literature
3678
02:25:34,540 --> 02:25:37,750
and nijmegen observer and
my observations told me that.
3679
02:25:38,572 --> 02:25:40,860
The the office
staff I'm looking at
3680
02:25:41,110 --> 02:25:42,520
is much more important.
3681
02:25:43,060 --> 02:25:43,540
Than.
3682
02:25:43,990 --> 02:25:44,350
You know.
3683
02:25:44,800 --> 02:25:47,260
Becoming too obsessed
about this so I just stopped
3684
02:25:47,710 --> 02:25:49,510
and I'll find don't get
me wrong the farmers
3685
02:25:49,660 --> 02:25:51,699
market prevail
incredibly useful.
3686
02:25:52,390 --> 02:25:52,810
Bar.
3687
02:25:53,410 --> 02:25:56,800
For the purposes dimensions
which is obviously to.
3688
02:25:57,430 --> 02:26:00,730
Look up balance areas did these
little one of nuance is the I've.
3689
02:26:01,060 --> 02:26:02,740
Talked about like all the young.
3690
02:26:03,850 --> 02:26:08,350
Single prince excess poor highs
and lows and those kind of things.
3691
02:26:09,040 --> 02:26:11,350
If they're they're am obviously
aware of them dumbarton.
3692
02:26:11,725 --> 02:26:14,200
Very low down on
my list of priorities so.
3693
02:26:14,800 --> 02:26:15,972
Thus it and.
3694
02:26:17,008 --> 02:26:19,360
The only thing left to do is.
3695
02:26:21,400 --> 02:26:22,210
The shapes
3696
02:26:22,420 --> 02:26:24,220
celestial very quickly.
3697
02:26:24,550 --> 02:26:27,290
Talk about the shapes and
then we're going to end this.
3698
02:26:27,850 --> 02:26:30,970
Section okay so the first
shape is fairly straightforward
3699
02:26:31,071 --> 02:26:32,770
is a day so I'll show you.
3700
02:26:33,160 --> 02:26:36,700
Have she bought pen and then I'll
try to see if I can find a good example.
3701
02:26:37,616 --> 02:26:40,540
D shape is walk
just balance right
3702
02:26:40,810 --> 02:26:41,810
see it there.
3703
02:26:43,360 --> 02:26:44,360
I talked about the.
3704
02:26:44,500 --> 02:26:45,500
Here and the.
3705
02:26:45,910 --> 02:26:47,470
Bell shaped distribution.
3706
02:26:48,310 --> 02:26:49,310
The noise some.
3707
02:26:50,410 --> 02:26:52,030
So volume right sewer.
3708
02:26:52,420 --> 02:26:53,420
Balanced for you.
3709
02:26:53,710 --> 02:26:55,960
She can see it there and
then obviously you've got
3710
02:26:56,230 --> 02:26:57,370
a very bad drawing of.
3711
02:26:57,940 --> 02:27:00,190
Value area and then
you know the central bear
3712
02:27:00,400 --> 02:27:01,400
basically so.
3713
02:27:01,780 --> 02:27:03,610
Let me just do that
again cause our sir
3714
02:27:03,759 --> 02:27:04,870
are pretty atrocious.
3715
02:27:06,730 --> 02:27:07,730
Yes you go your.
3716
02:27:09,100 --> 02:27:09,910
Basically
3717
02:27:10,028 --> 02:27:11,028
tears.
3718
02:27:11,224 --> 02:27:12,250
As she a day in them.
3719
02:27:13,390 --> 02:27:14,170
As obviously
3720
02:27:14,350 --> 02:27:16,780
in theory or what you're a pok.
3721
02:27:17,380 --> 02:27:18,850
Ripe or fee Parker what if you
3722
02:27:19,030 --> 02:27:20,030
call in and.
3723
02:27:20,171 --> 02:27:21,940
Nice balance
there's you can see.
3724
02:27:22,780 --> 02:27:23,110
The
3725
02:27:23,230 --> 02:27:24,010
is a nice
3726
02:27:24,130 --> 02:27:28,840
d shape it just
basically would in theory
3727
02:27:28,840 --> 02:27:29,290
means is that day was
balance then there's no.
3728
02:27:29,770 --> 02:27:30,340
Clue
3729
02:27:30,550 --> 02:27:31,550
as to what the.
3730
02:27:32,110 --> 02:27:34,870
Direction is likely to
the for the next day.
3731
02:27:35,380 --> 02:27:37,210
And the next one the
3732
02:27:37,450 --> 02:27:38,800
he is often talked about.
3733
02:27:39,627 --> 02:27:39,820
Is
3734
02:27:39,970 --> 02:27:40,970
he.
3735
02:27:42,070 --> 02:27:42,490
Okay.
3736
02:27:42,910 --> 02:27:44,650
It's generally
means short covered
3737
02:27:44,770 --> 02:27:45,070
so
3738
02:27:45,340 --> 02:27:48,220
probably more useful
for a draw it down further.
3739
02:27:49,600 --> 02:27:50,600
Down here.
3740
02:27:53,530 --> 02:27:55,090
So let's say the mall care
3741
02:27:55,571 --> 02:27:56,680
and you know obviously is.
3742
02:27:57,070 --> 02:27:59,230
Got sure it just
covers those shorts
3743
02:27:59,710 --> 02:28:00,710
and then.
3744
02:28:01,150 --> 02:28:02,500
Slightly to come up with
3745
02:28:02,770 --> 02:28:03,370
because
3746
02:28:03,550 --> 02:28:04,550
it's basically.
3747
02:28:05,202 --> 02:28:06,202
Liquid a aim
3748
02:28:06,280 --> 02:28:07,720
the short infantry.
3749
02:28:08,140 --> 02:28:09,140
Very quickly
3750
02:28:09,400 --> 02:28:10,400
that's why you get very.
3751
02:28:10,750 --> 02:28:12,520
Quick move up in by balance
3752
02:28:12,790 --> 02:28:14,260
balance and then the next day.
3753
02:28:15,040 --> 02:28:16,360
He turned to meet fire so.
3754
02:28:18,490 --> 02:28:19,490
This is it.
3755
02:28:20,110 --> 02:28:24,070
Okay example of it's of the greatest I
mean not daily wanted it to open their bar
3756
02:28:24,130 --> 02:28:25,450
used you get the principal.
3757
02:28:26,950 --> 02:28:27,950
P.
3758
02:28:28,750 --> 02:28:29,050
Okay
3759
02:28:29,290 --> 02:28:30,520
so what it means is.
3760
02:28:31,240 --> 02:28:34,150
People got sure
quickly liquid a it.
3761
02:28:35,530 --> 02:28:36,610
And then we balanced
3762
02:28:36,880 --> 02:28:37,420
to then.
3763
02:28:37,900 --> 02:28:39,640
Technically move higher so thus
3764
02:28:40,000 --> 02:28:41,050
and a may have actually.
3765
02:28:42,805 --> 02:28:42,981
Let
3766
02:28:43,111 --> 02:28:44,620
them use double check that out.
3767
02:28:46,240 --> 02:28:48,460
No I just missed my nose didn't
3768
02:28:48,615 --> 02:28:49,930
sorry about his how nice
3769
02:28:50,380 --> 02:28:50,650
but
3770
02:28:50,820 --> 02:28:52,960
hey editing stuff out
in our time Warner.
3771
02:28:53,980 --> 02:28:55,750
Necessarily I shouldn't
make sure you are.
3772
02:28:56,980 --> 02:28:58,420
Caught pass and looks like.
3773
02:28:59,350 --> 02:28:59,800
Dead
3774
02:28:59,920 --> 02:29:00,920
and.
3775
02:29:02,951 --> 02:29:04,180
In fact that was.
3776
02:29:05,230 --> 02:29:05,500
So
3777
02:29:05,680 --> 02:29:06,680
let me just.
3778
02:29:08,636 --> 02:29:09,636
After wave.
3779
02:29:10,300 --> 02:29:10,632
Current.
3780
02:29:11,080 --> 02:29:12,130
I'll see myself.
3781
02:29:16,270 --> 02:29:19,000
So you just to make sure
you got eyes of see this isn't it.
3782
02:29:19,600 --> 02:29:20,860
In a market moved down.
3783
02:29:22,000 --> 02:29:23,000
I.
3784
02:29:23,680 --> 02:29:24,680
And essentially.
3785
02:29:25,360 --> 02:29:27,940
Though shorts have done
more quickly quotation.
3786
02:29:28,300 --> 02:29:29,470
Obviously if this wasn't.
3787
02:29:29,950 --> 02:29:30,950
A short.
3788
02:29:31,095 --> 02:29:33,130
Forced liquidation
you to seen what.
3789
02:29:33,640 --> 02:29:34,180
Would have been
3790
02:29:34,330 --> 02:29:34,603
new the
3791
02:29:34,780 --> 02:29:36,730
volume here I would have
been a different shape.
3792
02:29:37,390 --> 02:29:37,780
Buff.
3793
02:29:38,290 --> 02:29:40,120
Shores currently
could aid we came up.
3794
02:29:40,632 --> 02:29:42,250
We consolidate and boot
3795
02:29:42,460 --> 02:29:43,460
go off.
3796
02:29:43,720 --> 02:29:44,620
Thus the theory
3797
02:29:44,740 --> 02:29:45,550
look like I said
3798
02:29:45,760 --> 02:29:47,800
I don't use any of this
stuff I said it before.
3799
02:29:48,400 --> 02:29:48,970
To me
3800
02:29:49,180 --> 02:29:50,460
I'm going to be honest with you.
3801
02:29:50,890 --> 02:29:51,890
She nonsense.
3802
02:29:52,270 --> 02:29:54,010
Because from observation
3803
02:29:54,190 --> 02:29:55,870
I don't see it
happening that way.
3804
02:29:56,350 --> 02:29:56,770
There's
3805
02:29:56,950 --> 02:30:00,250
a ton of other factors thus going
to determine if the market's gonna.
3806
02:30:00,730 --> 02:30:02,590
Obviously rally
the next day so I do
3807
02:30:02,770 --> 02:30:04,240
time to laugh at these things.
3808
02:30:04,840 --> 02:30:05,590
That I read
3809
02:30:05,747 --> 02:30:06,253
an
3810
02:30:06,370 --> 02:30:09,520
uneven that they teach you
see even professional from teach.
3811
02:30:09,970 --> 02:30:12,190
He shapes and what
have offing their okay to.
3812
02:30:12,850 --> 02:30:14,410
She's good to know
about them bar.
3813
02:30:15,790 --> 02:30:19,630
And I I don't actually think that they're
trying to mislead you but I do think that
3814
02:30:19,630 --> 02:30:21,430
what they're trying
to get you to do is.
3815
02:30:22,060 --> 02:30:23,560
Use this as a foundation
3816
02:30:23,770 --> 02:30:24,770
and observe
3817
02:30:25,060 --> 02:30:26,230
and figure out for yourself
3818
02:30:26,470 --> 02:30:27,470
now.
3819
02:30:27,580 --> 02:30:28,900
That's not right
that's not right.
3820
02:30:29,290 --> 02:30:31,390
He goes through a
process of elimination so.
3821
02:30:32,530 --> 02:30:34,150
Obviously the a
coming back to the point
3822
02:30:34,270 --> 02:30:35,680
obviously the
opposite of the pie
3823
02:30:35,800 --> 02:30:36,800
is walk.
3824
02:30:36,880 --> 02:30:37,330
That be
3825
02:30:37,570 --> 02:30:39,100
so this is short
3826
02:30:39,280 --> 02:30:41,650
liquidation consolidation go up.
3827
02:30:42,040 --> 02:30:43,600
This is what long liquidation.
3828
02:30:44,170 --> 02:30:45,460
Coins got long.
3829
02:30:45,821 --> 02:30:46,270
It had to.
3830
02:30:46,630 --> 02:30:46,900
a
3831
02:30:47,140 --> 02:30:48,310
for whatever reason.
3832
02:30:48,670 --> 02:30:51,340
Stopped whatever market
changed his mind very quickly.
3833
02:30:52,030 --> 02:30:53,200
Liquid Asia sorry.
3834
02:30:53,590 --> 02:30:56,230
Consolidation and embedded
the other way just the opposite.
3835
02:30:56,800 --> 02:30:58,570
He can see here look be shape.
3836
02:30:59,920 --> 02:31:01,450
And this is actually a pre.
3837
02:31:01,810 --> 02:31:03,850
Okay example I suppose by again.
3838
02:31:04,570 --> 02:31:06,881
He didn't open here did it and
3839
02:31:06,987 --> 02:31:07,987
go up.
3840
02:31:08,711 --> 02:31:11,620
The best example up could
find in terms of the shade but
3841
02:31:11,740 --> 02:31:14,470
you get the principal and theory
what they're trying to say is.
3842
02:31:15,820 --> 02:31:17,530
The market tried to get long
3843
02:31:17,770 --> 02:31:18,770
and actually.
3844
02:31:18,910 --> 02:31:19,910
From.
3845
02:31:20,200 --> 02:31:21,910
Liquid a it out every one.
3846
02:31:22,660 --> 02:31:23,660
Consolidate
3847
02:31:23,770 --> 02:31:25,000
for a couple of days and then
3848
02:31:25,270 --> 02:31:26,270
crush.
3849
02:31:27,072 --> 02:31:30,970
Said that in theory was doing and
then the final one I can you read about.
3850
02:31:31,600 --> 02:31:35,530
Scott funny in the book you've read
about luck thousand different variations.
3851
02:31:36,790 --> 02:31:37,790
Read about them.
3852
02:31:38,082 --> 02:31:38,260
Or
3853
02:31:38,440 --> 02:31:40,600
even just of interest
and luck I said.
3854
02:31:40,990 --> 02:31:42,070
Go through this
3855
02:31:42,280 --> 02:31:43,450
try to observe them.
3856
02:31:43,840 --> 02:31:44,840
In my opinion.
3857
02:31:45,911 --> 02:31:47,680
Doesn't really tell
you much because.
3858
02:31:48,370 --> 02:31:51,580
There's a thousand other
things going on this is just is too.
3859
02:31:52,390 --> 02:31:54,820
Much looking at it
from a single lens.
3860
02:31:55,540 --> 02:31:58,000
There's too many
lenses out there for this
3861
02:31:58,480 --> 02:32:00,760
to hold accurately
every time so.
3862
02:32:01,661 --> 02:32:05,530
You know fuel use user use your by all
means by at least prove it yourself you know
3863
02:32:05,530 --> 02:32:06,583
the ropes fashion the.
3864
02:32:07,230 --> 02:32:08,650
Him you don't think it has any.
3865
02:32:09,400 --> 02:32:13,540
I'm staying power for me it doesn't so I
don't use it but luck said I went through
3866
02:32:13,540 --> 02:32:14,540
that process.
3867
02:32:14,800 --> 02:32:16,210
Be shape is an.
3868
02:32:17,920 --> 02:32:18,789
It's okay you know
3869
02:32:18,910 --> 02:32:19,450
serwotka.
3870
02:32:19,930 --> 02:32:21,550
Taboo distribution day so.
3871
02:32:21,946 --> 02:32:22,946
Do.
3872
02:32:23,170 --> 02:32:25,060
You can kind of see it.
3873
02:32:25,870 --> 02:32:28,210
Here in fact this is
quite a nice example.
3874
02:32:28,720 --> 02:32:29,140
Of
3875
02:32:29,410 --> 02:32:29,590
a
3876
02:32:29,740 --> 02:32:30,740
be shape.
3877
02:32:31,300 --> 02:32:32,620
That can you see that be shed
3878
02:32:32,920 --> 02:32:36,220
is just a double distribution
days of what it means is that.
3879
02:32:37,449 --> 02:32:39,790
The market had to
balance is he was trending.
3880
02:32:40,360 --> 02:32:40,810
Is
3881
02:32:40,960 --> 02:32:41,287
you know
3882
02:32:41,410 --> 02:32:42,410
boys say.
3883
02:32:42,460 --> 02:32:43,990
Even not unless a like that word
3884
02:32:44,290 --> 02:32:45,790
can you see was balancing here.
3885
02:32:46,420 --> 02:32:48,280
Then we moved up
in a balanced here.
3886
02:32:48,640 --> 02:32:49,640
Shiva.
3887
02:32:49,870 --> 02:32:51,490
So what is disaster causes.
3888
02:32:53,380 --> 02:32:54,380
Happy.
3889
02:32:54,610 --> 02:32:55,610
To for.
3890
02:32:56,950 --> 02:32:58,420
Okay and the theory is.
3891
02:32:58,750 --> 02:33:00,880
Obviously you built
and value you go up
3892
02:33:01,120 --> 02:33:02,980
if you build value
and you fail to.
3893
02:33:03,400 --> 02:33:05,049
Go balance some feeling.
3894
02:33:05,740 --> 02:33:08,349
This lack of volume the
theories you continue
3895
02:33:08,590 --> 02:33:09,590
continuation.
3896
02:33:10,390 --> 02:33:14,258
Plus the theory does
it happen in practice
3897
02:33:14,258 --> 02:33:14,470
other the problem is
luck I say there's just.
3898
02:33:14,920 --> 02:33:16,360
There's too many factors.
3899
02:33:16,690 --> 02:33:19,389
Driving the market for
it to just be as simple as
3900
02:33:19,630 --> 02:33:22,720
oh if we balance we go up
with balance and we fail to.
3901
02:33:23,860 --> 02:33:24,430
Form.
3902
02:33:24,765 --> 02:33:28,660
You know that distribution which would be
walked combat can't fill in this imbalance
3903
02:33:28,660 --> 02:33:29,660
stereo.
3904
02:33:30,070 --> 02:33:33,100
Topsy former nice distribution than
the theory as whoa you might as well.
3905
02:33:33,400 --> 02:33:34,561
You're going to continue bar.
3906
02:33:35,012 --> 02:33:36,636
You know you can
get this this is all
3907
02:33:36,847 --> 02:33:39,340
she stopped going on is
my point I don't necessarily
3908
02:33:39,610 --> 02:33:41,830
khumri found it to
be of any value to me.
3909
02:33:42,550 --> 02:33:43,780
Having to dig look at it
3910
02:33:43,990 --> 02:33:45,790
when I first got into profile.
3911
02:33:46,180 --> 02:33:47,260
On a chart anyway.
3912
02:33:47,921 --> 02:33:51,700
When I heard about our this stuff obviously
like everyone to let me have a look at it
3913
02:33:51,760 --> 02:33:53,080
I didn't dismiss anything.
3914
02:33:53,860 --> 02:33:56,530
Though can tell you right now
certainly didn't throw money I.
3915
02:33:56,921 --> 02:34:00,518
Until I'd been hundred percent sure
whether it works and to me it didn't so.
3916
02:34:01,780 --> 02:34:02,780
As it but.
3917
02:34:03,250 --> 02:34:07,210
Look thanks for sticking fruita or no
ended up at you being a long session bomb
3918
02:34:07,212 --> 02:34:09,452
really happy with the way it
came out covered everything.
3919
02:34:10,690 --> 02:34:14,020
A market profile on what we're going to
do next is were very much now corner.
3920
02:34:15,190 --> 02:34:17,530
Just give you a sneak
preview minister combining.
3921
02:34:19,480 --> 02:34:22,001
And building contextual
level reason the
3922
02:34:22,119 --> 02:34:23,860
really exciting to can emerge.
3923
02:34:24,910 --> 02:34:26,043
Areas and
3924
02:34:26,200 --> 02:34:27,700
yet we're going
to start looking at
3925
02:34:27,940 --> 02:34:30,460
market opportunities around.
3926
02:34:31,607 --> 02:34:32,680
Contextual levels
3927
02:34:32,912 --> 02:34:33,912
are going to see of.
3928
02:34:33,940 --> 02:34:34,940
Imbalance.
3929
02:34:35,284 --> 02:34:36,850
If it comes back in there.
3930
02:34:37,660 --> 02:34:39,520
Then we'll have a balance.
3931
02:34:39,823 --> 02:34:40,823
This area.
3932
02:34:41,080 --> 02:34:42,080
Combat cow.
3933
02:34:43,065 --> 02:34:46,210
Terms of while we shall combine a
lot of these and you'll see the market.
3934
02:34:46,750 --> 02:34:51,100
Does tend to go to the other side and them
regain balance opportunity to all looks up
3935
02:34:51,111 --> 02:34:51,760
a beer scribd
3936
02:34:51,880 --> 02:34:53,441
but we're going to
do this together now.
3937
02:34:53,798 --> 02:34:57,610
The next section so yeah thus market
profile hooked up was useful to you.
3938
02:34:58,393 --> 02:34:58,783
And.
3939
02:34:59,230 --> 02:35:02,470
We can now start to actually
use it because obviously got.
3940
02:35:03,220 --> 02:35:06,490
At least enough of
an understanding of it
3941
02:35:06,490 --> 02:35:06,910
for US to start looking
at it on the chaucer
3942
02:35:07,180 --> 02:35:07,600
don't forget
3943
02:35:07,845 --> 02:35:09,610
a look at a and
blocks cause Autumn
3944
02:35:09,730 --> 02:35:10,730
really find any
3945
02:35:10,777 --> 02:35:11,777
in those letters.
3946
02:35:12,160 --> 02:35:13,240
But you more than welcome
3947
02:35:13,360 --> 02:35:14,470
to our leave.
3948
02:35:15,626 --> 02:35:16,626
In the template
3949
02:35:16,779 --> 02:35:18,370
probably put both
on if you want.
3950
02:35:18,730 --> 02:35:20,410
The other one or
maybe I won't and
3951
02:35:20,590 --> 02:35:23,089
I'll just show you what we see
the option of how to change.
3952
02:35:23,590 --> 02:35:25,390
Or a guy see you in
the next section cheers.
293255
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