Original subtitles

Well, good morning, traders.

Good morning, Ron. Good morning, everybody.

How's everybody on September 22nd?

Good. That was incredibly peaceful music. Thank you.

Good morning.

Good morning to everyone.

Hope everyone is doing well today.

Well, this is our educational disclaimer.

We are here for educational and informational purposes to learn

some skill development in trading concepts.

I cannot provide any financial advice, though, because I'm not a financial

advisor.

We'll be looking at some charts and analyzing them. I will interpret what I

see.

help you to identify some entry points for trades

that may yield profitable results.

But trading does involve substantial risk and past performance does not

indicate future results.

If you have questions, feel free to ask during our session. But if

you have...

Other questions that you'd like to send me an email, my email address is

bullbearway at gmail.com.

I would like for you to email me and ask me questions, and I'll be glad to

respond to you.

However, if you have questions about the SMM indicator, please contact

Justin at simplemarketmetrics at gmail.com.

Do not.

share any information that we have on our platform with others because most

of our information is proprietary information.

Looking at Forex Factory this morning, President Trump is

scheduled to speak at 8.55 a.m. Central Time.

And we'll be interrupted with that, I'm sure.

On the trading economics calendar, they did not post that,

but they've got some other speeches that are available through the day.

You might look at that calendar for the times that they post various

speeches that will be given.

Looking at bar charts for the open high low close values I

see that the close of yesterday

was 30,784 and that is within our pre-market range today and

the 922

values are still

So I look at the 921 values, which are totally closed out.

Last week, I gave you the top 10 reasons

traders lose trades. Did you get that in your document

that I sent out to you?

There was no.

There was no document attached to my email.

I got mine fine, Ron. Thank you.

Okay, I sent it out as a separate document. It went out as a separate

document. I don't know if it was Thursday or Friday that it was sent out,

but I sent out this document.

It should be in your email.

Were there two attachments?

No, there was just one document that went out.

Because I had two titles, but I could only open one.

Okay, now, let me say this. To everyone, everyone in the

educational platform, I sent this document.

It went to everybody.

However, during the Thursday session, I said, if you send me an email

to Bull Bear Way, I will send you the lesson that goes along with this summary

sheet. Now, that one had two documents because I sent the summary sheet along

with the lesson.

And someone, I do recall, sent me an email that said that

one of them did not open, but I sent it back to them again.

But I have the full entire lesson that goes with the summary sheet.

One of them, this one that I have on the screen right now, it has the word

summary sheet on it. The other one has a lesson. It's several pages

in the lesson that goes into detail of each one of these 10

items.

So if your

lesson is the one

that did not open, then let me know again.

I'll be glad to get it to you.

Okay, we've got about eight minutes till the New York bell rings.

Is Ed on?

Oh, Ed told me that he will not be on today. He's got a doctor's appointment.

Okay.

This morning in my pre-market, I've got my pre-market box drawn.

But this morning, I went back earlier

looking at my chart because last Thursday, I want to apologize

to you guys.

I felt really bad Thursday after the session.

It reminded me of when I was doing my flight instruction.

One day my flight instructor took control of the plane and he did some

acrobatics and showing me what the plane would do. And I did not

expect him to do that, but he showed me some acrobatics.

it being unexpected it sort of scared me a little bit and

so last thursday i did some crazy stuff

it was a wild and crazy day i got into trouble i

was in the red and i i pulled it back out by the

end of the day it took all day i stayed here

until almost time for the market to close, but I pulled us back into the

green by the end of the day. I had about, I think, 16 people stayed with me

all day, but I should not have done that.

And so I'm going to try to settle back down today and show you what

really works and how we should trade, not doing the wild and crazy

stuff.

So back this morning, I'm on central time zone.

And so looking at around 6 o'clock this morning, we were in

consolidation, tight consolidation. I look at my 21 and my 200 and

the price action, and all of those were in tight consolidation. I love it when

we're in tight consolidation.

and everything moving together because i know that we're gonna have movement away

from the tight consolidation so i drew my white consolidation box

and as we move away my 21

moves away from the 200 creating this narrow state

and we got this cell signal from the smm

indicator and if i had taken that

trade that was a good place to take a trade and i would i could have taken

that trade and here and put a stop loss

where this magenta line is and you could have

had profit off this leg.

This would have been leg one, a pullback, leg two, a

pullback, and leg three, creating the widest point,

and then a pullback all the way back to our 200.

And that would have taken us into our pre-market zone.

And we could have done that again.

And here's our setup, our narrow zone.

Down, a pullback.

And here we go down on this leg.

And we could have had our stop loss here.

You could have entered here.

And had your pullback, you would not have pulled back to your stop loss.

You could have added to your trade in this link

and had profit on down

into this area trading in the pre-market area.

But again, this is our pre-market box.

And I've drawn all my pre-market box and getting ready for the New York session

to open.

I'll be right back.

Okay.

So.

In the pre-market box this morning, I've got my 200 moving average.

I've got my 21 moving average.

I've got the high of price action. I've got the low of price action.

And I've got this purple line, which is yesterday's close.

We don't always have yesterday's close in our pre-market box, but it did make

itself available today.

And we're watching as

the bell gets ready to open in a couple of minutes.

I'm on a MNQ December 26 contract with one-minute chart.

I'll look at the RINCO in a little bit after the market opens and settles. But

when the market opens, I like to look at the...

time-based chart

i'm

on a 20-point gain strategy really it's a 25 because it's a 100 point

stop loss and a 100 point profit with the mit

Five contracts.

Got about 45 seconds till the market opens.

My ATR is at 11 right now, 11 and a half.

We'll see what happens when the market opens.

We're at the top of where the market closed yesterday with room to drop. I

don't know if we're going to drop or not, but we're at a high point.

30,700 or 30,800, somewhere near the top.

high values we're starting out going up

watch those wicks

bouncing

out of the pre-market box to the upside

That ATR has doubled up to 22 almost.

Real strong buy on the open.

Order filled.

Move my break even.

Let's see if we can push on up and take this profit.

Stop filled.

Broke even on it.

That was a strong breakout to the upside.

Off that strong breakout to the outside, we'll get a little pullback, and then

we'll probably get a continuation.

Order filled.

Okay, we're getting a sign of a continuation. Let's see if we can push

on that.

Move to break even.

I think we're going to hit our target in just a bit.

Move on up a little bit with our stopwatch.

Come on, bulls. Let's push on up.

Made a little bit of money on that one. Not a lot, but it was a winner.

If we learn where to enter the trades, that's what we want to focus

on.

pushing toward 30,900.

On the Rinko, we saw the before the, let's see,

let me check this.

Yeah, it was before the market opened. We had indication of going upward.

We crossed the 200, and then we bounced back to the

Bollinger Band midline and got that second

surge upward.

Stalling out on our one-minute chart.

Our giraffe neck candles are going

toward spinning tops and doji-type candles with a

little bit of a wick on top, white dot clustering.

So we're sort of stalling out at the moment.

Losing momentum?

What's that white dot on the Rinko?

We're getting a slight push to the upside, but I would be careful because

Trump's supposed to speak soon.

And this was a very strong push outside the box right at the open, but

we've got this pullback and

a resistance zone right here.

Does anyone have the news queued up for Trump's speech?

Order filled.

Well,

I lost that trade. I was looking for that pullback, which we got a big

pullback.

And I was expecting a pullback into the profit wave, which it did.

But I was a little bit late on closing the trade.

There's no setup going on right now.

We're just waiting.

Well, in our one-minute chart, we are at a wide state with a

one-leg pullback and somewhat of a

consolidation here, not really a clear

position on the leg.

And with Trump scheduled to speak, it would be

difficult to determine where we're going to move.

So we're just sitting here in this consolidation waiting for price action

to give us some type of an indication of where we may move to.

So I've got my consolidation box drawn.

And these candles have wicks on the top and bottom.

Rinko is not giving us much of an indication of where price action may

move.

So we're just in a holding pattern.

The wrinkle chart keeps taunting me. It shows me it's going to be a setup, and

then it turns on me.

Yeah, this morning is rather fickle.

Yeah, that last trade, that number three that I got into, I was expecting

that pullback, and it did pull back. It gave me a wick.

but no continuation, and I wasn't ready for that. I was hoping for a

continuation or a deeper pullback, and it didn't produce

that, so I didn't close the trade out. I could have won that trade,

but I wasn't quick enough.

I heard that about you.

Ha ha!

Good thing I wasn't in the Western at high noon

in a gunfight.

I would have probably lost that one.

Trump has not started speaking yet. I suspect markets are kind of waiting to

see what he's going to say and when he's going to say it.

Do you have the news pulled up, Tom?

I have the Associated Press YouTube live stream going at the moment.

Okay. Keep us informed, if you will, if you don't mind.

Sure will.

And Ralph and Ron, as I like to say, I may be slow, but I'm not fast.

Yeah, we're just in this consolidation holding pattern.

I've got Fox News on so I can see when it comes or start getting ready.

But it looks like it's going to talk about widening the war in Iran, and

that's going to move things.

Well, every day, you know, I do

my pre-market box, and this is a pretty good example of it.

I tell you, the reason I do a pre-market box is that it identifies consolidation.

And sometimes we see that up and down movement in that hour before the New

York session opens. And it may not look like consolidation at the time. But now,

if we look at that pre-market box, that does look like consolidation in that

hour before the market opened and we got upward movement.

expanded above the pre-market zone,

but now we're in a consolidation at the upward movement.

So we went from a narrow state to a wide state,

and I'm expecting that we could return back to

the narrow state, but...

That waits to be seen.

I'm not sure that we're going to get a good continuation upward

today, but who knows?

With all the news events going on, anything is possible.

And I do like my one-minute chart, although

I know I have a lot of students who like the Renko.

And I'll show you the Renko.

But I get a lot of value out of the time-based chart.

While we're waiting, has anybody else been trading this morning? If you have

and want to share your report with us, I'd be glad to hear it.

I'm three and one plus 645.

Way to go.

And thinking about shutting it down.

I mean, like turning off the computer.

Well, that's not a bad day of trading, Ralph. In fact, that's a good

pocketbook.

If my name were Nathan, I'd already be shut down.

Well, it doesn't matter what your name is. It's still a good pocketbook.

He shows great discipline that way. I mean, I'm just impressed.

Anyone else been trading?

Yes, I was doing not the NASDAQ, the M2K,

basically, Russell, and I see a nice movement there. I just went with the 3

micro and made $60.

Okay, wonderful, wonderful.

I would have been okay if I hadn't taken trade number three.

Yes, right.

And it was a counter-trend trade at that, but according

to my strategy, you can trade.

counter trend on that pullback.

What are your wrinkle settings on the M2K?

On M2K, my wrinkle setting was 12.4.

Sometimes 16.4, 12.4. It gives you a nice movement.

A small version of the Russell, basically.

It's amazing how many times YM goes against NQ. NQs go one way, YM a lot of

times go the other way.

Yeah, that's one of my criteria, basically.

I just see all the three market YM and Q and ES together.

If one of them is offsetting the other, I try to keep away from the trade,

basically. That's very smart.

Ralph, me and my sweetie is going to celebrate number 15 tomorrow.

Well, congratulations.

That's a wonderful thing.

Yeah, we've been actually knowing each other for 23 years, but

we got married 15 years ago tomorrow.

That's about how many years my sweetie and I have been together.

Now, that's wonderful.

Good to have someone who shares, you know, the

same ideas and pathway that

you're walking, you know.

The Swedish informed me it's been 14 years.

Yeah, the year before last, her mother

had her 90th birthday.

And we went to had a celebration up at Joe Wheeler Park.

And we had a celebration and I was talking. I said, well,

she's been my mother-in-law for.

Over 20 years, and my wife said, has it been that long?

I said, yeah, baby, it's been that long.

Time seems to go by fast.

Correct.

Every time I go to the calendar, it seems like I'm turning a page.

Hi, Ron. I have one question.

What's that?

The last Thursday, basically, I was trying to contact Justin to get

the recording of your, because that was my second day.

into that one and then they say we have not got it from the run you can you know

contact your instructor what i got an email from them they shared your

performance i think you took 40 trades but i just went home because i have to

go to work a little bit early but later on i see you take about 40 trade but i

want to see you know just for learning purpose i don't know you have a

recording of that or not but just only curious about that Not last Thursday.

Last Thursday, at the beginning of today's session, I did an apology.

Last Thursday was wild.

I equated that to when I was taking my flight instruction, my

instructor did an acrobatic session one time, and it sort of scared

me a little bit.

Last Thursday, I gave out the handout on

10 ways that traders lose trades,

and I think I went through all 10 of them.

And I don't want to show all those things. It was really, I

failed. I felt bad after that session. I shouldn't have done that.

And so I had to go through the whole trading day to pull us back into the

green. And, you know, it was just a bad show. I don't want

to show my students all the bad stuff.

You know, I want to show you how the proper method is that we should trade.

Right, Ralph?

Right. Bill Snyder was the head football coach at Kansas State University.

And they had a game that was so bad that on Monday when they reviewed the film

with the team, they just said, we don't have any films from it.

We don't have a show on the films. We're just going to pretend it never happened.

Yeah. Yeah.

Okay, we are getting a little bit of an incline here, but I don't want to

take that right now. It's not strong enough to

actually put money on.

Trump's not speaking yet, is he?

No, 15 minutes.

The crayon is just talking about the UN and the Iranian ambassador.

That's about all.

Yeah.

And I'm going to have to end our lesson today at 10 central time.

I've got, my wife's got a doctor's appointment. I'm going to have to.

show for her too and we're going to have to make sure that she gets to her

appointment on time so

some

some days are not just

the best in the world for trading but we can look at our charts and analyze and

see what we get regardless of whether we get to push a button or not

yes you're right

what's my 10 years of trading journey well i learned one thing sometime no

trade is also a good trade basically

I paid that tuition several times.

Haven't we all?

If you're a trader for any span of time, haven't we all?

Well, I just switched to SIM on all accounts.

Period.

That's probably a good move, Ralph.

Smart.

Me too.

There's nothing clear on this chart that would give us a clear

trade entry that would give us confidence to take a trade.

And we did come back and touch this 21.

Well, we're not getting any momentum on the market movement.

Does anyone have any questions or anything that I might could help you

with at the moment?

Trump is going to start speaking here in a moment.

Okay.

Yes, Trump is about to speak now.

Showtime.

ATR is 14. Let's see what happens when he starts. Trump just started his

speech. Okay.

Thank you.

He's starting to talk about Arian now.

Order filled.

Stop filled.

Yeah.

Or order filled.

Target filled.

Okay, there was the winner.

Winner number five.

And so, on Tuesday, even though we didn't have a lot of price action

movement, we settled down compared to last Thursday and had a much

better trading day.

We look for better trading opportunities.

Okay, does anyone have any questions for this session?

Just reviewing what we did, I had a breakeven on the first trade.

We won the second trade on the...

And we lost the third trade on the

pullback for the counter trend trade.

But we recovered on trade number four and five.

Both of those were winning trades.

End up the day with a $477 profit.

And I've got to take my wife to the doctor, so I'm going to have to end the

call a little bit shorter than usual.

But I hope you all have a good trading day, and I'll see you Thursday.

If you have any questions or anything that you want to send me an email, my

email address is bullbearweight at gmail.com.

Look forward to having you back on Thursday.

Thank you for being here.

Happy anniversary.

Thank you so much. Happy anniversary.

Dr. Pullman goes with it. Thank you, Ron.

Okay, bye-bye now.

Happy anniversary.