All language subtitles for vid 11.2

Okay folks.

Welcome back.

We have our first

losing day.

Hasn't really ended yet, but it's still
going to end up with a net loss day at

two positions this morning, train Euro.

And I'm not going to go over the details
about that because I'll take up time.

It's going to be in the recording
and there's a real live there.

I saw that anyway.

I do suspect that we've swept
out a low in hearing on Monday.

Typically is a, for me, it's a dicey day.

Okay.

And today was exactly that.

Um, I got tripped up with the, uh,
London open, even though my analysis

was looking for a higher dollar.

This real close high had
made little too concerned.

I know somebody tweeted saying that the
stock may have been okay, but yeah, there

was no indication I was going to happen.

So I felt justified by
canceling the short,

the fact that I'm watching
this order block down here.

Good.

If I can get that retreated down
into without getting too much of

a run through these stops up here.

That's what I'm looking for.

Just so you know,

uh, trendline Phantom.

We'll talk about that as well.

I think we've probably
made a significant low

the first half of the week in here.

So I think we're going to make it
run for the stops above here and

closing this little gap at 1 0 8 40,

Shay, this chart maximize
you can see what I'm showing.

Put the stops above here.

Branders and we've receded since
then they kept this high in tax.

So they'll come back later on,
but I'll still see it today.

Okay.

All right.

So we are inside the series
of down candles in here.

The expectation is we're going to see
expansion and clear the stops here.

Potentially, maybe run up
here and close this gap.

Now my positions today were
one standard lot on each.

And they round off at 2% each.

So I have a 4% draw down on the account.

I am not permitted to take a
full standard lot trade until

I get back half of what I lost.

So that means I'm stuck at five
minutes until I can get 2% back.

And then I can go back to trade
and 2% risk on a four standard lot.

Can you hear me?

I got a guy saying he can't hear me.

Okay.

Thank you.

Um, it's the loss mitigation concept.

I have a teaching on that should
be in the create tutorial section.

The idea is when you have, when you
have a losing trade and like today

I had two back-to-back same day.

So the idea is, is you don't want
to start a, a string of losses with

the maximum willingness of risk each
time you want to trim that back, uh,

because it has a psychological effect.

Whether you want to say you don't
feel anything about it or not, you do.

Um, the natural impulses is, you
know, I want to get that back.

I don't want to have
my account show a loss.

If I come back from it, it'll
show them a really good trader and

yada, yada, yada, you'll have all
these internal dialogues going on.

And the idea is your stock.

You'll start thinking that this is
the last chain day of your career.

And he has to, you have to have it back.

You know, you don't want to end
your career on a, on a losing day.

So the reminder that is the set ups that
occur very frequently, they re occurring.

So, because we don't know when our
next loss is going to be, that's

always going to be an uncertainty.

The certainty is it's going to come.

And we don't know if it's going
to be a series of losing trades.

And we don't know the impact of
our psychological makeup during

those losses, because everyone's
going to take them differently,

but don't want to talk
too much about that.

Cause I can use all this commentary
at the end of the trading day.

I want to really focus on the
afternoon cause I do get a chance to

at least mitigate half of what I got.

That's what I'm trying to do.

Yeah, I'm going to have to,
so we're inside the down

candles here all down here.

1, 2, 3, 15 minute candles down.

Uh, the expectation is we're
going to see movement higher.

So what this is is called
a close proximity entry.

Okay.

The expectation is we're going to
see expansion we're in the area where

the smart money would be buying.

Okay.

At a later time, when price is up here
somewhere, this will be a full tour block

that we would expect the price trade
down into, and then maybe recapitalized.

Well, if our understanding is we're
seeing expansion or potentially expansion,

and we're inside the range of these
down candles, we can still be a buyer.

Now, when I buy this, I have
to have a stop below 55.

So it's going to have to
be a 30 PIP stop again.

Notice I'm using five minis, not
using them one full standard lot.

So inside of the buys
of these down candles,

And I'll explain this once
I get my stop and such.

Give me a second.

okay.

So I'll leave the prophet open.

I'll manage it as I go hard.

Stop.

Is that

30 pips?

Okay.

So we're expecting movement through

old, low here, violated down.

We've since come back above
dollar has already swept.

It's longer.

Longer-term daily stops up here.

Some breakdown.

I want to see this area on the dollar
giveaway and then we'll come down and

hopefully get to this 99, 25 ish level.

Um, hopefully draw, you can talk at down

cable and I'll just give you a peak here.

I was wanting to buy this
earlier, but I wasn't able to

get this life set up dining time.

Yeah, you're seeing a trend line.

Hi.

Hi, everybody's in retails, but
I'm going to be selling it here.

It's called a trendline Phantom.

It gives you the impression
retail is so easy.

A caveman can do it.

Let's get short.

And then now she can see what's going on.

Uh, they're gonna be making a run
for the Sundays and high up here.

1 25 90 to 1 25 95 could
spike into 1 26 big figure.

So we'll come back to that.

I don't want to leave this on here.

Cause then all of a sudden
people will be sharing charts.

Michael's still look at it as
this guy is doing trend lines.

I he's trendlines as a
contrarian indication.

I don't look at them to trade off.

I look more, they can fail.

I knew Huddleston use trendline.

I can hear it now.

Lily screen capture and everything.

So again, the expectation is we saw
price blow through the Sunday's low

here and let's look at the range and
I'll tell you what that one or 7 55.

Well, isn't in a second.

No this, and if I don't, if I don't
mention what the one, the 7 55 level is

in the next 10 minutes, this prompt me.

I have the questions tab open,
but that's not an invitation.

They ask me a million questions right
now because I'm focusing on trying

to mitigate what I took as a loss to.

So I am talking, uh, they want to
focus on this low here, price chase

through that low, and now it's
shown an unwillingness to go lower.

Okay.

So, uh, retail traders are going
to see this as a trade on support,

broken should be resistant, and
didn't go lower to my expectations.

It's going to run to where the
liquidity is, where they're going

to be at about these equal highs.

And if we get some momentum close up
in here on that 1 0 8 40 level, like

we were looking for this morning,

the hard part for you as a trader.

And I admittedly for me as a mentor,
because I already know some of you

are very new and maybe today was
the first time you took a trade,

which you shouldn't be doing.

You shouldn't be doing that right now.

You should be actually at this
practicing on a demo account.

But nonetheless, if.

If you took that today or both of
them, actually, there's all kinds

of wonderful chemical releases
going on in your brain today.

Oh no, here it is.

It's it's finally coming out your stuff.

Doesn't work or ICT can't trade.

Trust me.

I know what that feels like.

And I already know that's what
some of your thinking, so there's

not going to be any words that I
can say to actually change that.

And when, when you feel that, the only
way that's going to be removed is if

you see a neck, the next trade wind,
or if you see the, the next couple of

trades, when, and I know that that's
the same thing I needed as a trader too.

So the only thing I can counseling
you is don't, don't entertain the

thought processes of toxic thinking.

In other words, don't question
whether or not the concepts work

or they stop working or that, you
know, uh, the IMF is in my room.

Um, they, they very well may be in here.

Okay.

I'm not saying I would know that
you who knows about I'm not going to

be arrogant and say that they are.

Um, but I do suspect that, uh, you know,
some of you are going to have a little bit

of a shock when you do and you did today.

You see me get it wrong and there's no,
excuse, I wasn't no hidden agenda in here.

You know, I literally read it wrong and
what's worse is, um, the analysis was

right on the dollar and the levels and the
direction initially we were looking for.

Was right, but I executed wrong.

And that's the part that
you're going to have a mess.

You'll have a mess up like as well.

I mean, it's not gonna be the only one
it's gonna, it's gonna happen again.

You have two choices, one you can dwell
on it and beat yourself up about it and

keep yourself in taking the next trade.

Or you can learn from it, just
move on to the next trade.

Or is that going?

That it's going somewhere.

Oh, so we have a risk here to find.

So we have two to one, potentially
if we get up to 80 at 108 40 level,

um, if it doesn't, there's no
guarantee that we'll, but if it

does, that's what we're looking for.

We'll try to trend some of this risk
when it gives us an opportunity to do so.

Yeah.

If we can move ahead and get above
these equal highs and maintain that

as we go into the draggy speech.

Um I'm okay.

And B I'm, I'm actually comfortable
holding that all the way up into

1 0 8 70.

Yeah.

If we get one a week 70.

Let's talk about why that
level 1 0 7 55 was on my chart.

It's seen on a daily chart to the left,

go here, maximize this.

The question was a way I can keep this
box from going exactly where I needed.

Not to be too literal questions about you
guys used to communicate to me on here.

It's always in the area
where I don't want to be yet.

All right.

So we have

this old low here in here on the
weekly for the Euro, and then

on a daily.

We are these bodies of
these candles in here.

It's almost like these things know
exactly where I needed to look for data.

I mean, the binds of the candles here,

so rounded to the nearest five level.

That's this here, one at 7 55 and we
have the low and at wick on the weekly

chart at 1 0 7, 17 or more close to it.

So that's the top of the
range we're looking for.

And it's swept into that today.

I got to a daily again or loudly on that.

This is to answer your question.

Ricardo was asking him, I understand
why I'm trying to buy Euro.

We've swept price.

We've expanded.

Look at look how many days we've had up.

We had 1, 2, 3, 4, 5, 6, 7, 8 days.

If you count Sundays action all up.

Now I understand Trump's
election and the whole thing.

Okay.

But we've already cleared out an area
of liquidity and it's realistic to

expect some measurable retracement.

I'm not trying to capture the high.

I'm not trying to capsular the low one.

The Euro, all I'm trying
to do is take a trade.

All I'm doing so there's no, there's no,
uh, overemphasis on my part to try to

sell the idea that I'm trying to capture
a significant higher, low on looking

forward as a particular range to unfold.

And because we've already seen
such a movement on the upside,

um, less leery to be a buyer in
here now, because we've cleared.

We've cleared so much ground.

Now everybody wants to be a buyer.

You know, every it's so obvious that
everybody wants to be buying the dollar.

So we have to basically allow
them the dollar, the Colts jets.

And unfortunately, sometimes that
will consult, consolidate or retrace.

Either one allows me along only Europe.

The fact that we went below this low.

Trading it here in London, I'm doing
this as, this is potentially the

London low and the low of the day.

So we created the low during London.

I just realized I had a space
heater going the whole time.

So that's probably what
you've been hearing.

If you heard a kind of a
background sound, I apologize.

I should have got real clear.

Didn't it?

Um, I'm looking for, uh, basically
a, uh, a reversal set up yet, but

I'm again, I'm, I'm trying to counsel
you and not trying to sell you on

the idea that I'm trying to capture
the reversal on the long-term charts.

That's not what I'm, I'm not
selling that idea at all.

Uh, that's a good question.

John Johnson asked him what makes me
think this is not a continuation cell.

Is that what you're thinking
while you're asking?

What would, why isn't this a cell?

That's what I was trying
to outline a moment ago.

The fact that we took this low
out, which we see here, it came up,

it should have already ran lower.

The fact that we came back above the
body of this up candle, no words,

this should be a bare shore block.

It should've came just to this level here,
maybe up to here and then went lower.

That's what I would have.

I ideally expected because we've given up
this range here to me, I'm viewing it as

them tipping our hand saying, no, no, no.

You know, we want, we want folks
to want to see this as a potential.

So they're going to have
all their fins on it.

Optimal trade entries
and stuff will be here.

I'm not viewing it like that here.

I think there's a lot
of liquidity up here.

They did got real close.

They built a lot of trust in that level.

So anyone wanting to go short
here, they're going to have

their buy stops right above that.

So they may give a little
bit of a range here.

I just don't.

Hopefully they don't come
down and hit the stop.

That's not what I want to see happen,
but you know anything happened, but

if it does expand, they're going to
be looking for these stops up here.

No, we traded it or I
traded him on it too.

I didn't treat this now.

Uh, no, it's not a test to do anything.

That's part of the mentorship.

My commitment was I was going to try
to take a trade every single trading

day, but because of the election,
I didn't trust the analysis that

I would have on the price action.

What's odd is during the election,
I was spot on and now after the

election, I'm having issues.

So basically what I'm showing you is, is
to take a trade every single trading day.

This is what you would encounter.

So I'm giving you, I'm giving
you a read on how I would see

pricing every single trader.

But this morning, a set up
that was a, that was a nice

one, but I screwed that one up.

Um, good morning.

How are you?

What's happening today?

Well, today's a lesson in humility.

All right.

So this is not looking good day
will not relent on that dollar.

Now price is starting to that stupid.

This doesn't make any sense now.

do you believe I am
wrong for a third time?

Power three.

Does it go?

That's a good one.

Yeah, they won't let that dollar go.

They're holding it.

Uh, calling it from.

Dolemite lower lows

failed to make.

Hi.

Yep.

I'm off side.

Hold on one second guys.

Yeah, I was unmuting.

I don't like, I didn't like the fact
that we made the lower, low on dollar

and the same time we've seen, should've
seen the higher high, which is what

I was expecting to see, but because I
didn't get that this low, I'm sorry, this

lower high that's a crack correlation.

That means the dollar index is,
uh, came down for stops and this

was online to make a higher high.

So there's no strength here.

That would be rather what
you would expect to see.

But that way, if it dominates a lower,
low, you're a dollar should making

a higher high, it didn't do that.

Uh, what I was trying to buy and
why I bought there is because

assume for a moment that we saw
price, do this as expected as

is my anticipation was on price.

Say, uh, say this candle did something
like that and wouldn't be that color now.

Would it be green?

Okay.

So let's say we saw price trade higher.

Maybe not even that high
and say at the disk.

Okay.

We would reasonably expect to see what
if this would have happened in price.

Okay.

And came back down into this down candle.

That would be a by correct,
based on or block analysis.

So the belief is that if that's
what was going to unfold, I

thought that I was training.

I was expecting them to run the stops
here, but what killed it was the dollar

making that lower load didn't happen.

Oops.

Sorry.

Thought I hit the mute button.

What I was saying was is if price was
expand up like this and we expected price

to come back down to that at a later
time, we could see that as a bullet or

a block or by, well, if we see that we
don't have to wait for that all the time.

So if my expectation was, if
these are down candles per four

and not move I'm comfortable.

If I have a strong conviction,
it doesn't happen all the time.

But if I have a strong conviction that
the market's going to make a run for

a specific level, based on liquidity,
I will buy inside these down candles

because I'm basically trying to replicate
what the smart money would be doing.

A in a down mood problem is, is
I didn't see the continuation

in price action with the higher high in
Euro, when a dollar made is lower, low.

And I'll show you again, what
that looks like on the 15 and a

timeframe dollar made a lower low.

At the same time, the Euro failed to
make a higher high as it should have.

And that's what I was waiting for
when you sat and listened to me.

Hmm.

Yeah.

Hmm.

Hmm.

What I was pondering is as well there,
it was going to come up and give me that

higher high, cause if it gave me a higher
high, then I would have hold on, I would

have held onto it and wait for the dollar,
that breakdown, because it did not give

me the higher high on the Euro here.

This is actually a break in correlation.

So it was actually showing
underlying weakness.

Does that make sense?

It's basically a SMT divergence.

And if you've been seeing my
tutorials, you'll know what that is.

So every time I get into a tree
I'm watching and monitoring

that what I say it or not.

Sometimes I'm not going to remember
to do it, but that's exactly

what I was watching just now.

And because it didn't get me the
higher high in the Euro, um, I always

try to give it a little bit of time
just to see if it will happen, but

when this candle started coming down
and it's just not likely at all,

Yeah, dollar's going to try to push again.

It's difficult.

Sometimes the trade when it's so screaming
one sided, like it is on the daily

and today was an example how you can be
easily punished by try trading against it.

Unfortunately, I don't feel comfortable
trading it long at these levels of

fear because there's nothing to support
the idea except lower timeframe.

And I don't want to have the
trade set on a lower timeframe.

Only

100 point 50.

If we trade to that level, it'll
be interesting to see if they

lose ground there aggressively.

Or if we just get a
monster rally through that.

Good morning, Steve, you haven't, you
haven't responded to me yet, by the way.

Um, now that I caught you, you need to
tell me right now, I have your attention.

When you want to do the, uh, the
panelist session, where we can talk

about the difference between what
you learned back in the late nineties

and how you learning from me now.

But to answer your, uh, your comment
right here, let me put up the, uh,

the chart so you can see it comparing.

Okay.

Uh, yes.

Steve you'll need a microphone otherwise.

No one can, no one can hear you.

You'll have to, you have
to speak through my crane.

If your computer has a built-in
computer microphone, that's fine.

If you don't have that and you'll
have to have an external mic,

if you could, in case you're
wondering who I'm speaking

about and who we're speaking to.

It's a gentleman that used to
work with me in my AOL days.

When I thought I knew everything, but
I didn't do as much as I thought I did.

And I would love for him to be
able to contrast the, the level of

education I'm giving now, relative
to what I was doing back then.

All right.

So what I was watching and why
I nixed the trade was the dollar

making that lower, low here.

They ran stops below this low.

How do I know that?

Because there was no higher high seen only
Euro at the same time, this should have

been a higher high than this high here.

That would be market symmetry,
but there is a lack of that.

So we see this as stop running on cell
stops and underlying weakness on Euro.

So if I'm long here, it's not good
to hold that long anymore because

it wasn't able to give me a higher
height, which is what should have

been seen with this lower, low.

So whenever the dollar is making a
higher high foreign currencies should

be making lower lows and we're not
seeing, we didn't see that here.

And that's why we're seeing
prices fall out of bed.

Now.

Um, I already mentioned why
I don't want to sell it.

It's too far ahead.

And this could just be a false rally
up into middle of this up candle.

It's in a level.

I don't want to be trading it long.

I'd rather I'd rather capsule
the reversal or do nothing.

One of the pluses by doing
this today is number one.

Obviously you can see that
you're going to encounter.

If you trade every single trading day,
you're going to have this happen and

you're going to have any of these.

These are my tools.

These are my things that I've
been using for a long time.

And you can, you seen it today, you
know, three times in the same day.

So I can't, I'm not allowed to take
another trade today, regardless

of how good the set up is.

I I'm not permitted the rules.

I can't do it.

So I have to sit on my hands
and do nothing, but watch it.

But the ability to be able to see
it happen, to understand why I'm

collapsing the trade, to avoid a
larger loss, um, and understanding

why it should be dealing with.

Well, let me say it this way,
understanding why it's doing what

it's doing and how that affects
my outlook on the marketplace.

Um, it protected the full stop
out, which is again, I slept

through the remainder of London.

Mountain land took the
second, a long one Euro.

I went to sleep and I allowed the full
stop, but the previous trade we protected

the stop, but it never would've got hit
in some people's eyes, but I, I don't

believe that would've been the case.

Um, I can't look at that and say
that was going to happen for me

at the time.

It could very easily spiked up in
here and cleared this high out.

So that's real close.

I mean, I don't like to
see it to get that close.

Can you just static alone, either
spread or whatever your broker could

opened it up easily and taking you out.

So I'm not going to beat myself up
about that, what I am, but I am a

little bit disappointed in regards to
my execution today was my initial I'll

look on the dollar in the Euro and cable.

They were right, but I allowed
the short-term volatility to

change my bias on the day.

So that would have been much better.

Any I'm thinking out loud, these are
all things I actually put in my journal

that will be in my journal today,
but the salient points that I'll be

having in it is the fact that I did not
stick with my original analysis with

looking for the upside on a dollar to
that 100 mark, and then only focusing

on the shorts performance currency.

Um, and I paid that, um, price with,
uh, with two losing trades going along.

And the charts I'll include in
my journal will be like, you're

seeing here, these are all
indications of what you would have.

Hopefully like I just did
here saw that I was off side.

So I had to correct myself
immediately and protect capital.

Otherwise it would have
been a full stop out again.

Um, Dean, I see your questions, uh,
is the dollar index always, right?

Could it be the dollar should
have made a higher high or

did you use cable to confirm?

Uh, well the dollar is always right.

Dollars king either the dollar is
going to move up to allow shorts in

foreign currencies, or it's going to
move down to allow longs in foreign

currencies, but they can hold it
in consolidation and still permit

foreign currencies to move again.

All of the, uh, see your question
regarding yields and interest rates

and such Jay, the, that macro view.

I'm allowing a little bit of time from
the elections because there's a whole lot

of sentiment being built in right now.

And I just don't, I don't trust
the long-term right now because it

may be shifting to maybe changing.

And we may be just seeing a, uh, you
know, a Patriot run or rally in the

dollar and it could just wash out.

So there's a lot of things
I'm weighing right now.

And admittedly, this is, you know,
this is all, well, I guess it's a

little bit, for lack of a better word.

It's rather difficult for me
to get a good read on price.

So that's why I'm keeping it
really, really short-term.

And I've mentioned this over the
last couple of months, because of

all the uncertainties out there, I'm
real comfortable staying in the, in

the lower timeframes and not being
too ambitious about my objectives.

And today, even that didn't help,

you can use the yields for
a short-term trading, but.

Yeah, it's not necessary now.

Um, well, Raj, you're saying that, uh,
you thought trading was gonna get easier.

I see elections that my activity levels
going to increase, but the easy part,

that's going to be relative to whatever.

It's easy when we get out of the
trade and we look back and say that

was painless, but we don't know for
certain it's going to be like that.

One more trick in the trade.

Yeah.

We're going to be in London just about
every day, unless I tell you otherwise.

All right.

So we're making a run on the initial hi,

$1

cable doing.

Yeah, it don't make any sense there.

I do not know what cables doing here.

Yeah, good morning, Adam.

Um, I was going to have a session at 10
o'clock, but I changed gears because I

thought I had an opportunity to take some
action this morning on the New York open.

And I've since, uh,

been corrected.

How often does it happen for
me to get a string of losses?

Well, if I trade every day, you're
going to have, you're going to see a lot

more losses than I normally would have,
but that's all part of the mentorship.

You're gonna be able to see how you deal
with the losses or how I deal with them.

Let's put it that way.

Um, it's not my interest again, to
inspire you to trade every single trading

day, but I want you to you'll learn.

You'll learn things by watching me
trade, whether they're profitable

or unprofitable, and you're going
to learn things about price action

and why I'm doing certain things.

And if I encounter resistance or
draw down, you'll see how I actually

go against and mitigate debt.

Because even if I do.

A lot less frequent.

I still get lost as I just don't
do as many losses as you're going

to absolutely see with me doing it.

So I don't want you to focus on primarily
the, the, the level of accuracy.

That's not what we're focusing on.

And what we're focusing on is the, the
application of the concepts and where

these concepts do their best work.

There's gonna be days of the week and
times of those days that certain concepts

are going to work better than others.

And by your involvement in
immersion, in that, you'll be

able to see what suits you better.

I mean, you know, there's three
primary setups that I use.

One of them you're gonna gravitate to.

It's going to make so much
sense that you're gonna not

worry about the other two.

And you're just gonna say, okay, I
like, you know, I like stop runs,

you know, like turtle soup, you know,
or I like, uh, you're trading back

a fair value makes sense to me or
the bullshit bear sort of blocks.

And again, looking at the examples every
single day and getting a read on price.

You'll see why I elect as a professional
trader, not to do every day.

I'm very selective on when I trade.

And the problem is, is you want a
tutorial or you want me to be able

to tell you in a paragraph setting,
you know, this is what I do to avoid

all the new, to less likely trades.

And there's really no way for
me to teach that outside of just

showing you every single trading
day, what it's like doing it.

And then all of a sudden it'll become
clear that it has to be experienced.

I guess that's what I'm saying.

You have to see it happen.

And then if that makes sense,
obviously after that, but it

can't be shown conceptually.

And that's why you can't learn in books.

I can't write a book and teach it.

It has to be done over my
shoulder, showing you in charts.

This is what it looks like.

This is what happens.

And if this happens, this is what you do.

And because we don't know, you know, you
never know what the price is going to be.

You know, it's always going to be dynamic.

Yeah, I would, uh, I'd
be a little leery too.

If I, if I was on here
claiming I never lost.

That's a good point, Andrea.

But you'll see, once you understand
what you're going to be trading in

as your personal model, you'll be
highly selective in your trades too.

And by doing that, your trade
frequency is going to drop off a lot.

And if you were comparing
it with other people.

You know, it's not going to, um, it's
not gonna look awesome and sexy cause

you're, you're a very passive trader and
there's nothing wrong with pass it along.

It's net positive by the end
of the year, you need money.

It's great.

Um, breakers are, I think
that's in market maker.

I don't know what video it is though.

If you tweet it in a group to my know
how, because they're more organized

in terms of where that stuff is
actually in the tutorial sections.

All right.

Keeping an eye on the dollar index.

It's still making a run for that dollar.

What is this?

Oh seven level

so far the optimal trade
entry dyes are right.

Can we find it by going
public assets, Twitter?

And he got their optimal
Jeff's old short here.

ICT.

Thanks me, mom in here.

I tried to buy it.

Scott saying market-maker series
part five is mitigation blocks.

So hopefully I helped you.

Is that where I'm actually
talking about the breakers?

Got

I apologize.

I have so much content.

I don't know exactly where everything is.

This is not the 10 o'clock, uh, webinar.

That was something different.

I was going to do another session.

How does losing effect one psychology
when treating large accounts for clients?

Are there different roles?

Um, well it depends on who's psychology
that you're referring to the effecting.

Is it going to be that you have the
trader or the manager or the clients?

Because I can tell you going
to never happy when they see

money going out of the account.

Okay.

The, the trader psychology is the
same as we've been talking about here.

Um, when you're trading a larger account
and you're managing other people's funds,

you have to really dial back the leverage.

Uh, you gotta dial back the risk and
we gotta be like, under 1%, you can't

be trading more than 1% portrayed.

Um, the client base will not
tolerate a lot of swings in equity.

They won't allow it,
they won't stomach it.

You'll be inundated with people
wanting to know where you're at.

You know, why is this happening?

And it imagine that imagine if
you were managing a fund and you

had say a hundred people in it.

Okay.

And I'll just throw that number out
there, indiscriminately, but just say

for instance, you had a hundred clients
out there that you're managing funds

with and they're, you know, they have
access to your information that they're

asking you, where are we at today?

And they're really invested in wanting
to know the day by day fluctuations.

Um, it's all part of your prospect list.

You don't want to be giving
them that access right away.

Uh, you don't want them to be worrying
you because there's nothing more

unnerving than knowing that you got
other people's money at risk and

the success of them having profit
is your ability to think clearly.

So you're never going to think clearly
if you know, Yeah, well, there's no real

nice way of saying it, but know impatient,
um, unrealistic, unreasonable investors.

Okay.

They think every trade is going to go
in their favor and the account should

go straight up and they're millionaires,
you know, um, you want to be able to

build in during your prospectus that
they will absorb some draw down, but to

keep it in realistic terms and it's, it's
favorable for them, they can tolerate it.

You can't take trades larger than 1% risk.

He can't do it.

So that way it allows your, uh,
equity base to be a smooth curve up.

But it won't be a dramatic like you
see with me doing with, uh, my effects

book, where I'm doing 60% month returns.

You can't do that with large funds.

And if you're thinking you're
gonna do that, you need to stop

that right now because no, one's
gonna allow you to do that.

As soon as you do it one month
and you can't deliver the

second month, it's over for you.

You, you're never going to
be hearing the end of it.

You know, what's happening.

Why aren't you doing as
good either the last month?

All those things will have an effect
on your psychology as the trader.

And if you're the managing trader of
the fund or your other people's money

or your own account, it's like when you
tell your spouse, the worst thing you can

do is tell your spouse what you've done.

You're going to tell her or him that
you made money today, or you made money

yesterday, or your, your, your, uh,
But you won't tell them you lost money

because you know, what's going to happen.

They're going to start asking you
questions and you know how you're going

to feel if they ask those questions.

And some of you know, this is
the fact, so you're never going

to say it to your spouse because
you know what, what if scenarios?

And because you know that what scenarios
are going to potentially be there.

If you tell your spouse,
they're like your trade partner.

Okay?

So now what you're doing is you're
beating yourself up and you haven't

even revealed anything to them.

So now you feel guilty about it.

So you have all these psychological
impacts on the answer.

That's why either you're
their manager or you're not.

And if you're managing that information
is for you to worry about no one else.

So that's, you have to keep that clear.

And when you, when you sit down with
clients and you manage the funds for

them, before you even receive the money,
you just go, they were honest and say,

look, we don't do monthly updates.

And we do on a quarterly basis.

And every quarter you'll get a
rate return and performance report.

And by spacing that out, it gives you
a great deal of well comfort zone.

I mean, you just don't want
people worrying all day

long, he's you can't focus.

You can't think you're going
to be worrying about what

that person's wanting to do.

He's he going to call me?

She going to call me again tomorrow.

They're going to be asking for
their money out when you've already

explained to them that you, you
you're locked in for a specific time.

You know, when you set your
fund up, you have to have a.

Uh, clear defined terms of
when disbursements are made.

Um, all those types of things are outlined
and much like people in mentorships and,

and subscription programs, you know,
they they'll pay the payment they get in.

And if they get a little bit of, uh,
adverse experience, they immediately

looking for the exit ramps.

Oh, this isn't for me.

Well, did you think you were
going to get into the trading

world and never absorb a loss?

That's that's the problem
with the industry because it's

been sold that it's perfect.

So you're going to have that
barrier as a trader that's

managing other people's funds.

I have that more than anything.

And when I was assisting other people
with their money, that was the worst

experience for me, knowing that people
had access to me and worrying every single

day, either by phone call voicemail,
um, eight new emails constantly asking

you why didn't the rate of return
be as high as the previous month?

You know, why are we
less active this month?

And the smartest thing I ever
did was saying, look, you know,

we're going to quarterly updates
because I can't, I can't focus.

I got so many people wanting to know why
it's not performing as it did last week.

Who's managing the
account, then it's not you.

It's the emotional customers,
the, the, uh, the principal.

Okay.

If the principal is telling you.

How you should be trading, then
you shouldn't be managing their

funds, give them money back to
them and let them manage it.

So, yeah, th th and that's true, man.

Uh, you know, people are never going
to be satisfied when it comes to money.

And I'll be honest with you.

I'm not gonna say any names,
but, uh, you know who you are

and I'm not, I'm not upset.

Okay.

I get it.

But the dynamic changed as soon as I
put a price tag on this, if I would have

did this in a live setting, and it was
just on YouTube, your, um, commitment

or the attachment to it emotionally and
psychologically for me, having three

losses would have been, well, I feel good.

Now I take a loss and so does ICT.

It's no problem, but now it's not
that easy because now you're paying a

premium to be here watching me do this.

So it changes the dynamic.

Whereas before you'd be very
patient where I would release

a video whenever I wanted to.

Now, it's like, if I'm five minutes
late, you know, what's going on the

link isn't working, everything changes.

So when money's involved, just
understand that there's a great deal

of paradigm shift that takes place.

And that's why it's very difficult
to manage other people's money.

In my opinion, that's
the hardest thing to do.

What's wrong with the cable going down
with the dollar up, obviously, you know,

it's going to do what it wants to do.

I don't like it.

I don't like that.

Set up to be honest with you.

I like this or block here.

That's why I like the 24 80 level.

So if it goes down into this candle
here, I'm going to be expecting

it to find support, depress up
and close in this range up here.

That's why I got this highlighted here.

This is bare.

So we're blocked.

I think we're going to try
to make one more run up

gold and silver.

I don't have any opinion on right now
because it's completely washed out.

I'm on the sidelines for
the metals right now.

Well, I don't have to do that anymore.

Cliff cliff saying that,
uh, I'm sorry, not cliff.

Uh, O M F X.

I'm not sure what the LMF ex.

Demanding only report once a
year, like Warren buffet did.

I don't manage other
people's money anymore.

So I don't have that problem.

I have a new problem.

I have 800 plus people to keep happy.

I didn't have 800 people as a principal.

I had far less involved in the fund.

The reason why I'm not short is because
I've already used my daily allowance

with trades south accident executed three
times today with no positive return.

So I have to stick to that role
and exercise, patience and control.

It's a measure.

I am.

I had to employ that when I was a
younger man on the miracle online.

Um, I did a lot of trading where I did
a lot of trades and sometimes, and it

was a very, very few and far between
some times because of that excessive.

Frequency and trading, trying
to get back losing trades.

I would come back and either
get my loss back or make it

a positive gain on the day.

And of course my ego would be huge
young, better than I really am or

thinking them better than I really am.

But it happened so infrequent, you
only need one of those that occur

to want to keep doing it again.

And I learned a very painful lesson
and lots of money being lost, that

if I have three losing trades in the
same day, I got to pull the plug.

I can't, I can't do it because number
one, I admittedly, what I'm thinking

right now is I'm not connected.

I'm not dialed in.

I don't feel like I have
a beat on the market.

So it took a number of years for me to
develop that and force it as a protocol.

I can't trade again.

And honestly, it's very painful, you
know, when you have to trade with that

rule and you see the setup, you see
it, you see it there, but you remind

yourself, Hey look, you know, I thought
I saw it before and it didn't pan out.

How much can you get a
one daily rate and stuff?

The question I have, I forced myself
to answer in one daily candle.

How many setups can you get?

There's not a lot, you know, preferably
it's like one really good one or

two, maybe London and New York.

But outside of that, you know, if you,
if you burn your, uh, you know, your.

Your ammo, if you will, on
three shots and you get nothing

out of it, you got to wait.

You just got to simply wait.

And subscriber-based
things like I'm doing here.

If you're a new trader man, this
is like a mind screw for it.

You're like, man, this
isn't what I expected.

You know, you're already writing
emails, getting ready to send it to me.

This is not as described and it's one day.

So if it may not be three trades for you,
you know, some of you may have a little

bit more, uh, willingness to absorb more
losses and maybe trade with less risk.

So it permits you a lot more trades,
but I'm over my threshold for the day.

I can't trade anymore.

So it doesn't matter how
good the trade set up is.

I'm not allowed to execute.

And the person in control is me.

I'm holding myself to a level of.

Accountability.

I can't, I'm not permitted to take
in the trade for this trading day.

As soon as Asia opens up tonight,
I'm allowed to trade again, but

I'm not really active in Asia.

So now what does that say?

I can't really, really expect to take a
trade until we do another London open.

And this is such a minor amount of pips.

It's such a minor amount of percentage.

Um, it only takes one good setup and
it's complete, completely erased.

And I have a whole weekly expectation
in terms of what I normally have as

a target, still stack on top of it.

So, you know, it's, I understand.

And you know, I'm not reading
anybody complaining here, but I

already know what you're thinking.

Some of you are already thinking,
man, you know, I, I did this trade.

I took this trade and you know, I don't,
I don't feel comfortable with that.

This, um, you know, I'm paying money and
now I've just paid money out of my account

on an, on a trade that I was following.

I don't like this feeling.

And now you're going to think
about this all day long.

It's going to be that yet.

And you can either say, you know
what, it's unrealistic to me for

me to expect a 100% hit rate.

You have to have, um, uh, um,
willingness to absorb losing trades.

It's going to happen.

I promise it was going to happen.

Where's the run on the Euro
low we've seen in low dollar.

Not yet.

Almost

so dollar has yet to make

it's a higher high while
the Euro did breach.

It's low

cable, still quoting it at 24 80 level

Keds, heart, heart attack.

Still not making any sense.

They keep coming back on dollar
CAD for all the trail cell stops

and they keep pressing higher.

Eventually one of these moves
when they take out the end,

it could be today, really.

I mean, it's just, it's going
to be just like this too.

I'm not allowed to take any trades.

So they came down and clear all the stops
out and then vault and go up to the 1 38.

So there's that low in the weekly
chart we noted at 1 0 7 17.

So they'll probably wash that out.

In other words, trade through it.

Try to remind myself, sometimes you
folks that are in other parts of the

world may not understand mine slang.

Okay, Dallas should
press through your high.

Now.

I'm not sure if I was in mid sentence
earlier about something and got distracted

or if I completed my comment, but

yeah, it's my Baltimore accent.

I put an R in.

What would be otherwise wash out?

I say wash.

I'm not, I was raised by basically
a Virginians and a guy from

Pennsylvania, my grandfather.

So I got that as my slime
or my, well, it would be my

th we're escaping.

What does it mean when, uh,
you gotta have an accurate.

And that's it, Danny ocean on?

I don't say that though.

I always make fun of the
people right here saying that.

All right.

We have a run on the high $1 index.

Finally got through that.

Now, are we seeing at the same time
acceleration on the Cape on fiber?

Yes.

So we'll be looking for
1 0 7 17 to be blown out

humility.

That's the focus today,
Michael, learn from it.

Learn from it.

Yeah.

Cable's not making any sense to me.

I got no problem in meeting it.

I don't think that this parent
knows what it wants to do.

That's nice market symmetry right there.

Notice how we made a
higher high on the dollar.

Relative this old high,
we made a higher high.

At the same time we have this old low,
and it's made a lower, low on Euro.

That's how market symmetry should be.

In other words, when you
see that it's confirming.

So in other words, this is
permitted to go higher for the

dollar and lower for the Euro.

Doesn't always happen that that
justifies continuation, but you don't

want to see what we're seeing here
or the Euro was making a, a failed

higher high, no words made no attempt
to get higher than this old high here.

At the same time, it went lower
here because everything is inverse.

So if the dollar is going higher,
foreign currencies, you're a dollar.

It should be going lower.

If the dollar is making a lower, low
at the same time that the Euro doesn't

make that higher high, it's showing
underlying weakness here on this pair.

And this has potential
stop run on cell stops.

And then obviously you can
see the post price action.

Uh, Adam, I don't know why the
cable's not making any sense.

That's why I don't have any
opinion about it right now.

When in doubt, stay out

that weekly, low for your dollars.

One 50.

At 1 0 7 17 on this date of feat

dollar index.

Remember we're watching 100 point 50.

Let me scroll this down.

You can see that's the
upside objective for dollar.

Here's your weekly run on the
low on 1 0 7 17 Euro dollar

score one for the optimal trade entry.

I see T3 three losses in the same day.

Yes.

Fiber's a low resistance equally
when I mentioned that in London,

making the rhino loads like that.

Uh, no, I don't think that it's a magic
number for you personally, to adopt

three trades as a maximum for the day.

Again, it's all going to come
back to your personal risk

tolerance and what suits you.

I mean, I'm, I'm trading at 2% risk
on the trades, so that obviously

doesn't give me a whole lot of trades
to take if I'm wrong, but if you're

trading it like half a 1%, yeah.

You can do a lot more trades than
I can and still meet within a

reasonable amount of risk for the day.

Well, if you're trading with 30% risk,
you need to be in Las Vegas casino

time comparing the dollar index and
pound, but you say that the lbs shows.

British pounds showing strength.

And that's basically what I was saying
earlier in terms of why I think that

24 80 level should be support because
I think they're going to want to

take cable hire, and we should sh you
shouldn't be seeing Europan higher.

I thought I have a chart up
here for, but don't nail.

And actually we're not.

Now when I say, why did I say that?

Good grief?

That's it that backwards.

So Euro's tanking and
cables being held sideways.

So it would be a down move on your pants.

I said that backwards.

No, Miguel, this isn't a test.

Like you, there's no hidden agenda here.

I promised you you're paying for my time.

So I'm trying to give you a read on
what I see every single trading day.

And because of that, you know,
I'm invariably going to have

days where I read it wrong.

I'm confident that I'll be able to
mitigate the losses by Friday's closed.

But I can't guarantee that if anyone
took trades, they're going to do

the same because you're probably
always scared to take the next setup.

If I was to say, I'm going to
trade tomorrow, you can be like,

let me watch and see if this
one's going to be right first.

Exactly.

Thank you for posting that, Joel,

this is not a signal service.

That's next ear.

I can already hear the complaints.

Why don't you give me a
trade signal every day?

Well, admittedly, um, the question I
just asked is how does, how am I feeling

with three losing trades in the same
day, knowing that there's people watching

well, there's, there's always people
watching, you know, they all there,

whether you see my trade or not, that's
always in the forefront of my mind because

I, I do the stuff that I teach, but I
don't trade every single trading day.

So by having a very selective procedure
about when I take trades, it reduces my,

my frequency and it lowers my loss count
and keeps me at a high accuracy rate.

Not that that's my goal.

I don't want to, I don't
like being in trades.

And I've said this before, um, being
in the market is a lack of control

in my personality is, is I have
to have, I have to have a control.

So when I have control it's
in the analysis before.

Which is why I love the analysis
part of the trading, but the

actual execution and being in the
marketplace with exposed risk.

I hate it.

I don't like it.

I don't want to be in it.

Um, and I don't think anybody really
does because it's an uncertainty,

you know, we don't know, you know,
we don't know what the, uh, what

the next move is going to be.

We don't know what the outcome
of the trade is going to be.

As soon as you entered a trade, it's over,
you know, the control aspect is only in

your hands to the degree where you can
collapse the trade or your stop-loss

is hit, or your, your targets hit.

And that brings the end of it.

So what I'm feeling is the same way I
felt when I was in, uh, my internet,

internet relay chat room, when I was
doing bicycles for the S and P um, when

I was making wins and, and everybody
was seeing that everything was great.

It was, you know, salad days easy.

It was great.

Everybody was high-fiving each other.

It's great.

Wonderful.

It's like any other time, when you,
when you have a poor performance,

you know, you're going to have folks
that are going to be emailing you

and asking you what's going on.

It's just system broke.

Now this has stopped working, you
know, are they trying to stop you

from making money as your broker?

Screw me now.

No, that has nothing to do with it.

This is, I was wrong.

That's all, that's all it is.

It's wrong.

But what I'm thinking is I already
know some of you that are so new.

Um, it's going to have a
great deal of impact on.

The rest of your day today, you're
going to be thinking about all day.

You mean you're gonna be dwelling on it,
you know, why did these traits not work?

And why didn't I see it as this?

And why was I saying the
market should do this or that?

And it didn't do it.

So it's, uh, it's going in that car.

It's going to be a test.

Not that I intended it to be a test,
but it's gonna be a test for you.

Do you take the ability of assuming
risk and then assault, assuming

that risk and then taking that loss,
does that change your conviction

about wanting to be a trader?

Because if it does, trading's not
going to be for you and no mentor,

no, no teaching, no system, no nothing
is going to help that until you allow

yourself to say, okay, well look,
you know, I'm going to, I'm going to

have days where I don't make money.

I'm going to miss opportunities
and I'm going to lose.

Yeah, I'm just reading the comment.

If I do a signal service, I expect a
hundred percent guarantee accuracy.

So to answer your question in short
and sweet terms, um, I'm always

concerned that you, as the subscriber.

Um, we'll make more about one
trading days, performance then sh

then reasonably, uh, should be made.

So, but I understand how
it was as a new trader too.

So it it's, I already know that the
likelihood of you getting fear based

emails saying, look, you know, I'm
not sure what's going on, or you're

probably going to be, uh, reluctant now
to send the email, because if you've

traded life funds, when you're not
supposed to be doing it yet, the, uh,

that pain is going to be more for you.

And it's going to be a psychological
barrier for you now, because,

and when we do the next set up,
you're going to be thinking the

last three traits were losers.

What makes this trade any different?

And then what's going to happen
is also, you're going to go in and

you're gonna start picking apart and
critiquing the setup instead of trying

to learn from the setup, the feedback
that you get from the price action.

See, what I'm trying to do is I'm
putting, I'm putting you nose into

the chart and saying, okay, based on
what I understand, what I know, this

is what I think the market should do.

If it doesn't do those things.

Okay.

Obviously I slept through London
in an allowed the full staff.

So I can't do anything about that.

And I was willing to take that loss,
but when I'm in the market live, if I

see things that don't make sense and I
can describe them to you and I collapsed

the trade, you learn a great deal from.

You don't make money from that trade.

You don't make money from that
experience, but you learn a thought

process about why I'm doing the
things that you otherwise can't learn.

I can't write it in a book.

I can't, I can't show it to you in a
video where it makes sense, but as I'm

doing and seeing it and live describing
it, that's what I wanted to know.

I wanted it to know what makes the
trader like this is what pissed me off.

When I would see people
that made profitable trades.

When we were on American line,
it was all message boards.

So it was kinda like
forum based ID delivery.

So when I would read these
folks, they would show their

trades and they were real trades.

I mean, they would show E-Trade
statements and Lynn Waldock and Fox

investments, all the, all the brokerage
firms that were out there for futures

and stock trading, they would put
their, uh, their screenshots up there.

And this was before Photoshop was
around all that kind of stuff,

where you would see, like you would
clearly see, this is what it was.

And I would always ask them, Hey,
look, you know, why wouldn't you

have been shaken out by this or that?

And they wouldn't tell you.

And I found that very problematic for me
as a, as a developing trader, because I

felt that that's what people were hiding
from me to people that were making money.

They had some seeker performance
protocol that they used to to see

when these losing trades were.

They start off.

Obviously everyone thinks that the
tree is going to be a winner, but

then when you get in there, what are
those characteristics that show that

trade no longer being a winning trade.

I did a lot of work with that initially
in my trading, because I was fearful,

I was 100% fearful of taking a loss.

I didn't want to lose.

And because if I lost, I would have,
I would be accountable to my uncle.

I have to tell him, looking into
someone because that was the

person I made accountability to.

I would show him what I
was dealing with my trades.

Initially, it was the greatest thing I
could ever done, but then it, eventually

it became the worst thing I could ever
done because it became a psychological

arm wrestling match where, you know,
as soon as he would tell me his opinion

on the marketplace, meaning a country
and as I'm going, and I'm looking for

reasons to do the opposite of that.

And sometimes it was right,
but then sometimes it wasn't.

So what was really driving me, the
fact that I want to be different

than him, not the technical.

I was justifying my stance based on the
assumption that he's always going to be

wrong, you know, broken clock's right.

Twice a day.

So if, if I could go back in time and
tell myself what I knew now, it would

have been this when you see the trade
that you're in and you see the warning

signs that it's not going to pan out
for you the first time you get that.

Immediately view where your stop-loss
is, and then cut that in half where

that would be in terms of stock, if
it starts trading on that don't even

waste any more time with the trade,
just collapse it, because if it's going

halfway to your stop, it's going to be
very easy for it to go to a full stop.

And if you're feeling reluctant about
holding that trade, if it's going halfway

to what you're willing to assume in terms
of a loss in the technical stone will show

any indication that it's turning around.

Now, mind you, I didn't know, SMT
diversions, then I didn't know any of

these things, but what was, what was the
defining moment for me that change what

I'm actually doing when I'm in to trade?

The only control I have is knowing when
I want to hold it and when I'm going to

bail on it, when I want to get out of it.

And the other term, uh, the other
two, uh, Terminus of that is

my profit being hit or my stop.

So either the best outcome
is, is my profit is hit or

I'm going to take a full stop.

I don't want a full stop, even though I'm
willing to take it as a catastrophic loss.

That means if the market spikes
against me, I'll take that as a

loss and say, okay, I was wrong.

And it's limited to just that.

But when I go into a trade, I'm
actually trying to manage, not losing

that full stop, but still having the
potential to making that full profit.

And it takes being in the marketplace.

Seeing it being done explained why.

Cause every, every pattern and
every day is going to be different.

There's going to be different things that,
um, I guess provide the context of why

these things would happen, but there's a
generic thing that goes along all of them.

But again, it can't be conceptualized
to such a broad brush idea that, Hey,

look, this is how it's done all the time.

You have to see it experientially.

And once you do, you'll,
it'll make sense to you.

It's kind of like, you know,
like I don't like golf.

I tried it in high school.

Um, I just couldn't hold a golf putter.

Right.

I couldn't, I couldn't do it.

Right.

I just couldn't do it.

Right.

And I don't have the patience for it.

And I had kids in my class that would
get up there and just nail all the

time, get real close to wherever
they were trying to aim it for.

And it didn't make any sense to me.

How do they keep doing this stuff?

And because I didn't have the patience
to go through the skill set, practicing

of it, I already knew I committed the
fact that I don't want to do that.

So why waste my time?

But if you have that inspiration to be a
trader, you're going to have to go through

this process of grinding through it.

And it's not always going
to be a positive return.

That negative return is actually a very
profitable, uh, learning environment.

All right.

So we're, we're going to see
draggy come in here and have his.

I didn't mean to offend you or, uh,
your affinity for Gulf Jacob on the St.

I just don't personally like it.

I like lacrosse and soccer, but
outside of that, I don't like sports.

Yeah.

Cable is not looking good.

I don't like the fact that we went down
below that we're blocked here, this

down candle, even though I'm willing to
see it go down to this candle is high

1 24 36, basically 1 24 35, 1 24 40.

That's like the line in the sand.

If you will, if we lose that
is going to want to go lower.

And we won't be looking to
trade up into this range.

Uh, the question is when I was
taking the trade, was I watching

the weekly Euro downside objectives?

I was aware of them, but I was
expecting some pullback and expectation

of whatever drug you would say.

Yeah, I don't have any opinion on CAD.

I just think, well, I
guess I did have opinion.

If I'm going to say something
now, um, I don't have a position

on CAD, but I do suspect that
they're going to drive it higher.

I'm waiting on Steve to confirm he has a
microphone before we can set up anything.

It wouldn't be today because
we're already long in the tooth

with, uh, with today's session.

First,

first impression on today.

Bias that I should've stuck with.

Um, well, I had to be careful
about what I say about my opinion.

The question is, is how can I
not have an opinion about any

instrument you can be neutral.

And that's kind of like where
I'm at with everything now.

Cause I can't, I can't take any action.

The more I talk about the setups, the
more anxious I feel because I am human.

I see, I see the setups that would
potentially be there, but I don't

have the permission based on my rules
to take any more trades for today.

So I don't want to sell the idea
of, or inspire anybody to take

something that I myself can't take.

I appreciate that, Mike, I'm
not, I'm not beating myself up.

I'm not sulking or anything like that.

I just I'm responding to a lot of
people's comments and questions.

I'm on to the next trade at London.

I'm not worried about it.

Yeah.

The trend line,

the trend line I had on the pound
dollar next, let's look with that again.

That actually, uh, well, when you see
that, what the condition is for the

set up for a false trend lines, this
is, this would have been a failure too.

So I would have, if I would
have taken a fourth trade, okay.

Let's say I would have
taken a fourth trade.

That would have been a loser too.

That would have been what
was your on the pound dollar?

So I would've lost money
on the other one too.

So I would have been a really bad day,
which is again, another testimony to.

Well, I have to have a limit.

And when you go, at what
point do you draw the line?

I mean, I knew some people out there
that teach and such, they'll say, you

gotta take, you gotta trade your edge.

You know, you got to do
your next set up regardless.

You gotta take the next trade now, you
know, it's, I guess it's true in a sense,

but how many of those edge trades do
you have inside of a normal trading day?

That's that's where my work has taken me,
where I got a cap at somewhere and I think

three is it can't be more than three.

Uh, why don't we focus on your own pound?

There's not always
something in your opinion,

if the dollar is, um, delivering
very clear your message, that it

wants to go somewhere, I'm going
to live there when the dollar is

uncertain, then I use your opinion.

Um, that's an interesting question.

Uh, you know, would it makes
sense for them to do it?

Liquidity play right now at
3:00 PM and reverse to create

upside liquidity for tomorrow?

Um, if I were in control
of price on the Euro,

What I would do personally is I
would send it higher right from here.

Cause we've already taken the low out
for people that we're trying to capture.

The low they're washed out to
those cell stops have been washed.

So if they'd taken price below that low
with no advancement or a dynamic movement,

I'm going forward past that low now,
which we just went below a little bit.

Now we're already going back
per personally, I would have

expected this to be a lot more
aggressive as it moved below.

It, it hasn't done that.

So they may be out here
collecting the cell stops.

And if they're going to collect the
cell stops, what does that imply?

They're accumulating long positions.

So if they're going to Akili it
down here, where would they want

to distribute those longs up here?

It's not like a broken record, but
I just, I see that level back here.

And it just looks so obvious
that they want that level built

up and a lot of trust in it.

So we could see in my mind, I'm thinking
if I had control, I'd make a run on

everybody's short because they've been
thinking about what they'd done here.

They had a low that they've
taken price down to below it.

It bought up some more data on this below
this low, they bought up more cell stops.

So now they have hedged
in longs here, here.

So if they make a run on the buy
stops here, here, and up to the

gap, they have a logical area where
they can unload that and make a book

and also hedge against the down.

Move on your.

But I've been wrong three times today.

So bear that in mind.

I'm just saying hypothetically,
if I had control over price,

that's how I would deliver it.

Cause I could, I could
facilitate market-making.

I would pair orders to where
logical buyers would be after

a killing the cell stops.

I would've been wrong.

Four times Connor would have been, and
we're going to stick to the facts here.

I was wrong.

Three times, they thought
I'd taken the trade on cable.

That would have been a loser.

Didn't you use Euro pound before to
determine what Euro and pound dollar

was going to do after looking at that?

Yes, but when there are specific
conditions, like there's going to

be times where you don't necessarily
lean too much on the dollar because

it's going to be in a consolidation.

So you have to lean on Euro pound to see
where its liquidity is above or below.

And that'll give you the potential
play on what currency to trade.

Because if, for instance, say
for instance, uh, dollars and the

consolidation, which is not now, but
say it's in a consolidation and you just

feel like that Euro is going to go home.

Well, if that's true, then Euro
pound is going to have either a void.

It wants to close in on the upside
or stop run that could potentially be

running above an old high while cable
has nothing really bullshit right away.

And then Europound
suggests that that long.

And you're a dollar is probably
going to be favorable while

dollars in consolidation is when
consolidation is seen in us dollar

index, you have dollar neutrality.

So with that underlying basis where
the dollar can not move higher or lower

with integrate deal of magnitude, it
doesn't negate trades that can be made

in foreign currencies long or short.

It just means that gene, you have to
do more analysis with their crosses and

it's same way with, uh, the Japanese yen.

Um, when you're looking for the Jack H N
D to remain in a consolidation, but the

Euro and pound, it looked like they can
potentially go one right direction or the

other, um, the same thing unfolds there by
using the pound pounding in or your again,

Aussie dollar hasn't made
any sense to me either.

Um, like I said, the markets
are digesting a lot of things.

They were worrying about whether
or not Hillary is going to put

us in nuclear war with Russia.

Uh, whether Donald Trump is going to
export all the Muslims and, uh, block,

you know, um, the Mexicans, uh, with
a border wall with no drive-thru.

And, uh, in my mind is there's a
lot of things to the, everybody is

basically trying to figure out just
like we are, you know, there's a lot

of things to weigh out immediately.

It's not easy right now.

It's not easy at all,

but in the coming weeks,
it'll smooth out a little bit.

He's got to give it time.

Yeah.

I hate to say it, but I think
Donald Trump's going to get shot.

Not, I'm not wishing for that to
happen, but I just don't see him

getting in the office in January.

And I won't say that in public forum, only
YouTube, but that's my personal belief.

He's just not a skull
and bones kind of guy.

So if you're not, you're not
in that click, you can't, you

can't be part of the party.

Um, well, I don't want to turn this
teaching into a political discussion.

I want to kind of keep it on the
topic of technical details, but I

can certainly talk about that stuff.

And, uh, in my free forum.

So, so far we've not seen
anything except for the same,

this type of price action in here where
we have consolidation and rallies and

comes back into the consolidation.

I find that more favorable for me to
trade when we haven't moved so far in one

direction, like we've seen on the dollar,
the dollar index on a daily basis is, has

been screaming and it's reading higher.

And I just don't want to get too bored.

On the dollar and, you know,
it's, I don't want to, I don't

want to buy it at this level.

I'm more willing to see a reversal
pattern and unfortunately,

reversal patterns have that price.

Sometimes you got to pay, you know,
and just too many updates in a row

for me and for my personal taste.

But once it gets to one, 100 point 50
basis, the dollar, uh, then things can

get really interesting because if we
blow through that man alive, we got,

we got some real issues to contend with
because it could be the running a lot

higher than I thought on the dollar.

Um, Larry, I'm not sure I'm asking
your question is why wouldn't we see

this Euro dollar pest distribution

referring to what specifically?

Yeah, I don't want to buy cable.

I don't want to buy it.

I think it's going to punish me if I
did it and I can't, I'm not allowed to

do it today anyway, but you're asking,
you're asking me a question about why

would it be, would it be a good buy?

I want to buy it.

I personally, this is, this is my thought
processes and there's been several, you'd

been asking about my view on equities
in S and P and the down the NASDAQ.

Um, I don't like the fact that
we're seeing this raging dollar

rally in the dowel mated higher
height, and it doesn't make sense.

Um, there shouldn't be
a run to the dollar.

If equities are bullish, it
doesn't, it doesn't jive.

So, um, I'm gonna tweet
this on my public forum.

We had some jackass say, well, you
just revealed something that every

trader has an understanding of.

Well, and that's, that's a showed the, the
scope of cause understanding the point.

The point is, if we're looking at
equities, And my expectation is we were

looking for a higher high before they
crash it because they have to build

in this idea that we got through it.

We got through that uncertainty.

We got through that.

We have a new president, we
have this, and we have that.

But in the meantime, behind the
scenes, they're paying for people to

go around in cities, busing them in
and paying them a dollar wage of 19 to

$21 an hour to protest against Trump.

So if you have to pay for them to
do it, there's not enough to do it

on their own, and they're doing it
to upset the, the whole thing, you

know, that they're causing unrest.

So I believe that in the fact that the
federal reserve is this screwing, all

of the other currencies by rallying
the dollar by doing that, we should not

be seeing equities, making new highs.

They should be tanking.

Okay.

And for the folks that did ask me an
email, you know, what my opinion is on,

uh, S and P stocks and all that stuff,
um, I've held true to, like I said, on

Twitter, I think it's going to crash,
but it has to happen after it makes a

new high, they have to build in this idea
that, okay, it's, it's okay, it's fine.

And it's going to take
everybody by surprise.

When we just made this rally up and down
made a new high historic highs, you know,

people are like, wow, why did this happen?

Where'd this come from?

Well, we were talking
about that happening.

Know that was the most
probable outcome to see.

But S and P and NASDAQ didn't follow suit.

And I haven't seen equities today,
but the, uh, hang on one second.

Yeah.

SMP and, uh, NASA, X hasn't, they
haven't made any, uh, equal high yet.

What's the doubt.

So to me personally, I think this
is a lot of different things.

The dollar, uh, folks are running to
the dollar because they're probably

unloading their stocks as the
market's making their heart high.

They're unloading it and
moving it into dollar base, uh,

protection.

I guess it's like the quality type thing.

And a couple that with the fact that,
you know, the dollar is going to rally to

put pressure on Russia, to put pressure
on other foreign currencies and like

it or not, where the federal reserve,
you know, we're the global leader in

terms of currencies and we make or break
most backs in a global, uh, economy.

So we muscle everything.

And we're seeing a
relentless rally on dollar.

They want this thing over one,
they want over this level here

could definitely want it there.

How much above that and for how long?

I don't know, but it certainly
wants to get up there.

And we've called one or two to
1 0 7, $1 and parody on dollar.

And you're in a pound that the
long long-term landscape, but we

had to trade the nail right now.

You can't trade, you know what
can happen in 24 to 36 months?

If the dollar is rallying, that's
gonna send, uh, gold lower.

If the dollar trades lower, that usually
is a bullish and this for a pro metals and

especially gold they're inversely related,

I don't know, or even begin to anticipate
what their ranges would be like.

If we go to parody between Euro and
dollar, but I believe it's going to

be exciting as we get closer to it.

There's a lot of talk and drum
beating about world war three

and new, and this and that.

The only thing I think if we see parody
on, um, Euro and the dollar ident, I think

that's when world war three could happen.

That upsets the currencies.

Again, they upsets all the whole world.

The ultimate, I think
that's where we're heading.

Uh, I don't know if it can
be timed with a black Friday.

I don't know anything about that, but
I suspect it'll happen on a weekend

where no one can do anything about it.

Banking wise.

That's usually when they do it.

Um, when, and if you knew you were
on the wrong side of your dollar

long, why not reverse in short,
since you'd be shorting at discount?

Uh, the number of trades I've already
taken today keeps me from doing that.

I've already used three of
my month trade, so I can.

And how does it make sense for some
of you that are new to like, wait,

don't make any sense if you're
going to trade, take the trade, but

by my experience, you know, Yeah.

If I'm wrong, I can be wrong again,
like you saw today three times.

I don't want to see proof that I
can be wrong eight times today.

I don't want to see that.

Yeah.

Well, this is a long, long day and
without the outcome that I was aiming

for, but with 12 months of this, this
is probably going to happen again.

So yourself prepared for it.

Here's the lower, low one cable.

Yeah.

Admittedly that I would not have sold
that I can look at this with all kinds

of hunting site lipstick, all I want
and I would not have sold 25 45 to 25

50, and this wouldn't have done it.

Wouldn't have done it.

But to answer your question, I
just mentioned that earlier about.

Failure.

If I would have had that as my second
trade, I would have reversed there.

Admittedly.

I know it would've done that, but
I can't do it now because it's too

late and day two, I used my three
trades for the one trading session.

Um, when they bring parody against
what with other currencies,

it's it will, it's ultimately
controlling in global economies.

Yeah.

Um, well let's just say this drug
has yet to say anything to upset.

What's already been in motion today, which
is not what I expected to see happen.

So all across the board, I was
wrong, wrong, wrong, wrong.

So I have two pull the plug in just.

My pal there for another day.

Good thing is, is that
we have Tuesday tomorrow.

We will be looking at
Tuesdays London open again.

No, I'm Gary, I'm closing the session
now, Paul, I'm just giving you the

final credits, the, uh, the video
that we did this morning for London,

plus this one, I'm going to just
compress it into one big, long video.

So it'll be a blend of what was
talked about in the London session.

And then we'll segue right into
the same video to this video here.

So it's going to be a little bit
long, but, uh, it is what it is.

I mean, we're going to have short
sessions going through the London session.

It'll be kind of like what we did
last night, but a lot less time.

Um, I'm going to give you what
I'm expecting and I'm going to

give you the contingency plan.

If this doesn't unfold,
this is what I'll do.

And if that doesn't work out,
then the idea will be waiting

for the New York session.

So I'm going to give you tonight
again, uh, we'll sign on, I'll go

over the charts, tell you where I
think the market may look to go for

our objectives, the daily bias, and,
uh, w w take another stab at it.

But until then, I'm gonna close this
one here and grab me some breakfast.

Just you need to take away is as
you're going to get it wrong sometimes.

Don't be stuff up about it don't
make more than, than it needs to be

made and just get ready for the next
trading day and limit your losses.

You have to do that because what happens
is, and then the closing comment.

If you don't limit your losses, then
there's no limit on how much you can lose.

You can lose 2% over 16 trades.

If you allow yourself to do that, and
every time you take a losing trade, you're

going to be that much more hungry and
thirsty to get that money back right away.

I am not in a hurry to
get that money back.

It's such a small objective to get
back in small terms of a percentage.

I don't want to compound it
and make more work for myself.

I want to day I've already read wrong.

So the battery life on this day is gone.

I'll have a new battery and a new
trading day tomorrow, and I still

have the weekly range ahead of me.

So I'm not trying to force anything.

And that's the lesson I'm trying to
teach you today is yes, I was absolutely

100% wrong on my outlook after changing
gears from wanting to be embarrassed.

I was wrong.

If, if I submit to that and go into
the next trading day, I'm okay.

I'm not worrying about rushing
to get back to you to get

back to my old equity high or.

Upset about my staff.

I'm not worried about stats.

I'm worried about my net
positive and my profitable.

And I'm am I in control
of myself as the trader?

Because you're not in control.

I'm not going to help you.

Your spouse is going to help your broker.

Certainly not going to stop you.

If they wanted to stop you from
losing money and controlling

yourself, they would limit the amount
of trades you can take in a day.

And the last time I checked it,
broker has an open policy with you

wanting to get into a trade, and
you've got equity in your account.

Come on in and say, I'd
love for you to come in.

So the takeaway today
is limit your losses.

Know beforehand how many times
you can trade, regardless of what

the set up show, lick your wounds.

Don't beat stuff about, and then go on to
the next trading day with another fresh

outlook and no remorse, no toxic thinking.

No.

Oh, the last three trades are losers
because if you think that it's going

to be a barrier to you taking executing
on the next sale, you can't do it,

but we will trading with less risk.

Okay.

I'll still trade at, uh, one
half, four or five minutes.

If I take another loss on that, I have to
drop down to half of that and then I'll

live there until I get back all that loss.

So you'll actually see me do the very
thing I teach in mitigating losses.

So until I talk to you later on
tonight in the London session

until then I wish you good luck.