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1
00:00:03,020 --> 00:00:07,190
Uh, before I, well, I've
already started recording.
2
00:00:07,700 --> 00:00:09,710
Um, yes, my son has improved.
3
00:00:09,710 --> 00:00:14,060
Thank you for asking, uh, still not out
of the woods yet, but, uh, he's improved.
4
00:00:14,060 --> 00:00:14,420
Thank you.
5
00:00:19,720 --> 00:00:19,960
All right.
6
00:00:19,960 --> 00:00:23,019
Today we have a pretty busy, uh,
economic calendar at eight 30 New York
7
00:00:23,020 --> 00:00:29,080
time heavily linked to the dollar CAD.
8
00:00:30,160 --> 00:00:32,500
So we will be monitoring
that this morning.
9
00:00:33,430 --> 00:00:36,490
Can't promise we're going to have
anything with fireworks, but we'll
10
00:00:36,490 --> 00:00:38,260
certainly try to do something with it.
11
00:00:41,960 --> 00:00:48,080
I sent a link last night, um, showing
the run on stats on the dollar
12
00:00:53,760 --> 00:00:54,300
and.
13
00:01:05,310 --> 00:01:08,940
And again, if you're just popping in here,
I'm a little unorganized today because
14
00:01:08,940 --> 00:01:13,380
of Twitter not being down that wasn't,
some of them have a panic because I knew
15
00:01:13,860 --> 00:01:16,290
some of you are very demanding on me.
16
00:01:16,350 --> 00:01:21,180
So as you should be because you're paying,
but the Twitter is down in my area.
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00:01:21,180 --> 00:01:26,550
So I couldn't tweet you the link
that was posted in the forum.
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00:01:26,580 --> 00:01:30,210
So I would have to come up
with a backup plan for that,
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00:01:38,630 --> 00:01:41,330
the dollar, put this back over here.
20
00:02:03,920 --> 00:02:04,130
Okay.
21
00:02:04,130 --> 00:02:08,509
So we had 98, 55 level on dollar index.
22
00:02:09,350 --> 00:02:13,190
Uh, we swept through to 98,
55, a second pass through it.
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00:02:18,090 --> 00:02:23,400
So, um, and just to see if we're going to
see a little bit of rejection onwards, um,
24
00:02:24,150 --> 00:02:28,470
we've cleared out the stops on the daily.
25
00:02:28,470 --> 00:02:32,630
Let's maximize this to get to best view.
26
00:02:36,260 --> 00:02:37,340
So we had stopped over here.
27
00:02:37,340 --> 00:02:39,200
We were, we're monitoring
this for a while.
28
00:02:40,010 --> 00:02:40,910
We finally got through it.
29
00:02:40,910 --> 00:02:43,730
And again, this is second time
going through 90, 55 levels.
30
00:02:43,730 --> 00:02:48,950
So we will be anticipating a potential
turtle soup scenario this morning.
31
00:02:48,950 --> 00:02:50,120
I'm not saying it's the top of the day.
32
00:02:51,090 --> 00:02:56,940
But we may be seeing, uh, the opportunity
for this to create a short-term high
33
00:03:19,680 --> 00:03:22,890
and as it relates to CAD,
34
00:03:43,640 --> 00:03:47,090
um, the question I just got was
why do I expect the turtles?
35
00:03:48,180 --> 00:03:53,100
Uh, we've, we've stretched on a
daily chart here on the dollar all
36
00:03:53,100 --> 00:03:56,910
the way up into this last old high.
37
00:03:57,810 --> 00:04:03,750
Now, if I'm incorrect with the fact that,
um, it shows no willingness to come back
38
00:04:03,750 --> 00:04:07,590
below the low, which is usually expected.
39
00:04:07,770 --> 00:04:10,530
I mean, you can see it a little bit
of a retracement, and that's not
40
00:04:10,530 --> 00:04:14,850
out of the ordinary for an uptrend
still to continue, but if we expand
41
00:04:14,850 --> 00:04:18,990
further, we'd have to contend with
the middle of this up candle here.
42
00:04:19,470 --> 00:04:23,760
So let's map that real quick
before we get our news release.
43
00:04:40,350 --> 00:04:42,930
So 99 big figure 9, 9, 10.
44
00:04:45,955 --> 00:04:52,555
If we get a run through because we
come all the way up here, all on
45
00:04:52,585 --> 00:05:00,745
basically one, um, impulse swing with
two little tiny little retracements all
46
00:05:00,745 --> 00:05:02,034
the up here to get to this old time.
47
00:05:02,065 --> 00:05:05,575
Whenever you have daily chart like
that, it's not the ordinary to see
48
00:05:05,575 --> 00:05:09,265
it, give you a little bit of a,
at least a tradable retracement.
49
00:05:10,974 --> 00:05:15,625
And again, it's not that I'm
trying to call the high in dollar.
50
00:05:15,625 --> 00:05:18,655
I'm just trying to note that
there's a potential given the
51
00:05:18,655 --> 00:05:23,304
fact that we've came so far up one
side and don't want a daily chart.
52
00:05:23,485 --> 00:05:27,594
And we've just recently probed
through the old high 98 55.
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00:05:29,395 --> 00:05:33,054
Uh, we pass through at once here,
came back past two it's a second time.
54
00:05:33,145 --> 00:05:37,960
And to me, this should have
already expanded up to 98,
55
00:05:37,960 --> 00:05:40,945
80 and still can happen.
56
00:05:40,945 --> 00:05:41,155
But.
57
00:05:43,485 --> 00:05:47,355
My thinking, going into the news release
in about one minute, we'll probably
58
00:05:47,355 --> 00:05:50,445
see a potential breakdown near term.
59
00:05:50,445 --> 00:05:55,875
Not again, not trying to call the
high, just watching a tradable bounce.
60
00:05:58,945 --> 00:06:02,605
Now how that translates
for the dollar CAD.
61
00:06:03,835 --> 00:06:06,265
Uh, we have a little bit
of a void down in here.
62
00:06:23,475 --> 00:06:23,715
Okay.
63
00:06:23,715 --> 00:06:25,335
Initial spike on the numbers.
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00:06:32,415 --> 00:06:33,615
Let me check on dollar real quick.
65
00:06:47,060 --> 00:06:48,500
Okay, go over
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00:06:52,430 --> 00:06:53,810
the daily chart on dollar cab.
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00:06:53,810 --> 00:06:59,160
We have stops just above 1 30, 3 12.
68
00:06:59,700 --> 00:07:01,050
So we have 1 30, 3 20.
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00:07:07,120 --> 00:07:10,270
We have 1 33 big figure next.
70
00:07:43,599 --> 00:07:47,710
so far dollar slow going, still
holding above 98, 55, which is good.
71
00:07:53,270 --> 00:07:54,679
1 33 big figure.
72
00:08:01,909 --> 00:08:04,309
I would've liked to come down
and take out that love first.
73
00:08:04,309 --> 00:08:06,859
That would have been
more, more convincing.
74
00:08:06,979 --> 00:08:09,830
I didn't like the fact that
we come down just to this, and
75
00:08:09,830 --> 00:08:10,909
then we're spreading our wings.
76
00:08:11,330 --> 00:08:16,159
You could be just a run of 1 30, 3 big
figure or sweeping a daily high in here.
77
00:08:16,340 --> 00:08:17,780
So that's another area you got to watch.
78
00:08:27,679 --> 00:08:31,039
High comes in 33, 12
relative to the daily chart.
79
00:08:33,914 --> 00:08:36,914
Big figure here while I had 33,
12 also in the chart over here.
80
00:08:56,175 --> 00:08:56,415
Okay.
81
00:08:56,415 --> 00:08:57,944
So there's two levels to watch there.
82
00:09:06,225 --> 00:09:14,655
And again, um, it would have been
much nicer to see it come down below
83
00:09:14,655 --> 00:09:21,015
the, well, here, before this run, now
I don't have anything to frame this
84
00:09:21,015 --> 00:09:22,905
rally off, even went to news injection.
85
00:09:29,064 --> 00:09:33,930
Um, The question is, is when I say
watch this level we're seeing, or,
86
00:09:33,970 --> 00:09:39,090
well, actually what I'm saying is, uh,
monitoring it's willingness, number
87
00:09:39,090 --> 00:09:40,740
one, the first reach to the level.
88
00:09:41,880 --> 00:09:42,210
Okay.
89
00:09:42,240 --> 00:09:45,300
And then once it hits the level,
once it's an immediate response.
90
00:09:46,620 --> 00:09:49,580
In other words, if it gets to
1 33 big figure, say it hits 1,
91
00:09:49,580 --> 00:09:52,980
3, 3, a big figure and rejects
immediately, it comes away hard.
92
00:09:53,790 --> 00:09:54,270
Okay.
93
00:09:54,720 --> 00:10:02,160
That to me, kind of like puts a damp
and, uh, uh, on the momentum for the
94
00:10:02,160 --> 00:10:04,860
morning, especially if it comes back
all the way down here and close it
95
00:10:04,860 --> 00:10:09,630
in this range, I don't like where
we're at relative to where it started.
96
00:10:09,630 --> 00:10:13,230
It's run, which is again, why
I think it's a suspect rally.
97
00:10:13,620 --> 00:10:19,320
It may be just reaching for the big
33 or the 33, 12 daily high over here.
98
00:10:19,350 --> 00:10:22,230
And then we may get some
retracement on dollar cat.
99
00:10:26,460 --> 00:10:28,620
And the reason why I'm thinking
that is because we didn't come
100
00:10:28,620 --> 00:10:30,000
down and take out the low.
101
00:10:30,990 --> 00:10:34,530
And there's really nothing down
here in my opinion, that gives us
102
00:10:34,530 --> 00:10:36,960
a basis to see this response here.
103
00:10:40,240 --> 00:10:41,370
If we cycle through the,
104
00:10:48,210 --> 00:10:50,610
I guess it's a five minute block
on bull shorter block, but again, I
105
00:10:50,610 --> 00:10:54,120
still would rather I've seen it with
the news coming out, stabbed the low,
106
00:10:54,130 --> 00:10:56,040
that low, which would be typical.
107
00:11:01,580 --> 00:11:01,670
Yeah.
108
00:11:11,290 --> 00:11:15,610
And dollars not showing any willingness
to want to go higher all of a sudden.
109
00:11:15,700 --> 00:11:16,480
And that's not good.
110
00:11:18,760 --> 00:11:23,350
Again, a majority of my, my
thinking is on the fact that we.
111
00:11:24,525 --> 00:11:27,945
I mean, I may have to fly this
chart and make it bigger again,
112
00:11:27,945 --> 00:11:29,295
for those that just popped in here.
113
00:11:30,225 --> 00:11:33,105
Um, we watched the 98, 55 level.
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00:11:33,135 --> 00:11:34,995
We were expecting by stock to be ran out.
115
00:11:35,055 --> 00:11:37,755
Uh, they touched it last
night, 90, 55, right.
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00:11:37,755 --> 00:11:41,565
To the PIP and in small little
retrace and off of it, and then
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00:11:41,565 --> 00:11:43,875
ran it twice through on the upside.
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00:11:43,875 --> 00:11:49,125
So it's our second past above
98, 55 on the heels of economic
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00:11:49,215 --> 00:11:52,695
numbers at eight 30 there's numbers
have been out for five minutes.
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00:11:52,695 --> 00:11:57,735
We've not seen any real expansion
above these by stops in the fact
121
00:11:57,735 --> 00:12:02,745
that we've run essentially all the
way up one sided just to get to
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00:12:02,745 --> 00:12:05,505
this level here, plus it's Friday.
123
00:12:06,105 --> 00:12:07,995
So there's a lot of folks
that have been dollar bulls.
124
00:12:08,025 --> 00:12:10,215
That's going to want to swear
positions going into the weekend
125
00:12:17,285 --> 00:12:20,735
and we don't see any immediate
follow-through on the heels
126
00:12:20,735 --> 00:12:21,665
of those numbers being really.
127
00:12:22,975 --> 00:12:28,345
Contrast that with dollar CAD reaching
for big figure 1 33, and then we have
128
00:12:28,345 --> 00:12:31,615
the daily high over here, 1 30, 3, 12.
129
00:12:32,035 --> 00:12:35,695
So we're really going to watch
this potentially, um, turtle soup
130
00:12:35,695 --> 00:12:40,705
at, uh, either big B, either big
figured 1 33, a big surgery path.
131
00:12:40,735 --> 00:12:43,345
Good read tongue twister, 1 33 12.
132
00:12:43,375 --> 00:12:44,935
We gotta watch that level specifically.
133
00:12:45,215 --> 00:12:45,955
That's this one here.
134
00:12:48,235 --> 00:12:51,685
I'm going to try this one as
an exercise, uh, live with you.
135
00:12:51,685 --> 00:12:54,715
And I'm going to use a demo account
because it, in my opinion, it's
136
00:12:54,715 --> 00:12:57,085
not a high probability scenario
and I don't want to keep them by
137
00:12:57,085 --> 00:13:02,755
effects book showing consistency
without any, any major drawdown.
138
00:13:02,765 --> 00:13:07,255
So, but we'll talk it out
live if it hits a 33 12.
139
00:13:22,390 --> 00:13:27,099
well, when we're watching news
releases, um, the number one thing
140
00:13:27,370 --> 00:13:31,870
we're going to be expecting or
anticipating is a run on stops.
141
00:13:32,469 --> 00:13:38,349
That's the, that's the typical Mo uh, they
usually run for an area stops and then
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00:13:38,380 --> 00:13:40,449
the market will go a specific direction.
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00:13:41,170 --> 00:13:44,709
In this case here only on a five minute
chart, it's only down here to this
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00:13:44,709 --> 00:13:46,000
bullish square block, which is, yeah.
145
00:13:46,270 --> 00:13:46,599
See it.
146
00:13:46,599 --> 00:13:48,939
Now, watch how they run to see how
they're running for the 13th or 12th.
147
00:13:49,689 --> 00:13:51,939
That's these daily highs over here.
148
00:13:53,020 --> 00:13:53,380
Okay.
149
00:14:00,010 --> 00:14:04,420
No, I could sweep about 10, 20 pips above
still, but we're going to watch this
150
00:14:04,420 --> 00:14:10,150
response at 33 12, but if it has any,
no, there's your gap through spiking
151
00:14:10,150 --> 00:14:12,250
up in above the south fast, that was.
152
00:14:13,350 --> 00:14:15,570
It's at 33 12 in gap above
153
00:14:19,050 --> 00:14:20,610
to 33, 20 institutional.
154
00:14:29,380 --> 00:14:34,300
Now we cleared an old high on
the daily at the same time.
155
00:14:35,890 --> 00:14:38,530
Dollar is still lethargic.
156
00:14:38,560 --> 00:14:41,470
It's I mean, yes, it's, it's,
it's maintaining, it stands above
157
00:14:41,470 --> 00:14:46,150
98, 55, but in my opinion, it's
not expanding up as it should be.
158
00:14:46,510 --> 00:14:49,060
It's not showing a willingness
to continuously move higher.
159
00:14:49,990 --> 00:14:52,930
And I think it's going to be a lot
of folks that want to square their
160
00:14:52,930 --> 00:14:54,610
positions as a result of that.
161
00:14:57,610 --> 00:15:00,730
And right away, we already seen,
uh, you know, uh, give back,
162
00:15:01,300 --> 00:15:03,340
which is expected to some degree.
163
00:15:07,030 --> 00:15:07,240
Okay.
164
00:15:07,240 --> 00:15:13,994
So we have a huge, um, The liquidity void
as a result of today's numbers release.
165
00:15:14,834 --> 00:15:17,925
So we're going to hypothetically
say, okay, um, where are we at here?
166
00:15:25,015 --> 00:15:27,324
We're going to hypothetically
say if it hits, uh,
167
00:15:32,744 --> 00:15:37,454
right now, we're going to say we're
hypothetically selling short at 1 33 14.
168
00:15:39,135 --> 00:15:39,464
Okay.
169
00:15:39,525 --> 00:15:40,724
1 30, 3 14.
170
00:15:41,385 --> 00:15:44,984
And the expectation is we're going to
see potentially a turtle soup and it
171
00:15:44,984 --> 00:15:46,604
doesn't have to close in this entire void.
172
00:15:46,694 --> 00:15:48,074
It doesn't have to come
all the way down for that.
173
00:15:48,915 --> 00:15:52,545
We're going to say, okay, this is
the old daily high 1 33 big figure,
174
00:15:53,204 --> 00:15:54,525
so we can expect to give back.
175
00:15:58,354 --> 00:15:59,675
And this is just an exercise folks.
176
00:15:59,675 --> 00:16:01,385
Don't get all excited,
putting money into this.
177
00:16:03,344 --> 00:16:07,665
The objective would be the run.
178
00:16:11,334 --> 00:16:13,074
We'll reach for 30 to 80,
179
00:16:16,415 --> 00:16:19,354
well, which were 30 to 80
as the institutional level
180
00:16:19,655 --> 00:16:21,425
below the 1 33 big figure.
181
00:16:23,194 --> 00:16:23,824
And then
182
00:16:28,234 --> 00:16:29,645
let's see what the open is on that candle.
183
00:16:29,645 --> 00:16:30,724
Now I'll tell you why I'm picking that.
184
00:16:30,814 --> 00:16:34,535
Um, yeah, let's go with 30 to 80.
185
00:16:35,104 --> 00:16:37,444
And the reason why I'm using that
level is if you, if you look at
186
00:16:37,444 --> 00:16:44,495
the body of this candle here, the
OPNET candle comes in at 32 76.
187
00:16:45,425 --> 00:16:48,334
So if we're going to cover a short
ad in the spread to that, 80 would
188
00:16:48,334 --> 00:16:51,245
give it a good chance of covering.
189
00:16:51,665 --> 00:16:52,805
So we're gonna look for 30 to 80.
190
00:16:52,805 --> 00:16:55,265
If we get any kind of re
uh, rejection move lower,
191
00:16:59,375 --> 00:17:03,875
if it goes to 33 30,
192
00:17:12,930 --> 00:17:13,819
Scrunches up.
193
00:17:19,740 --> 00:17:20,040
Okay.
194
00:17:20,639 --> 00:17:26,399
Again, we're, it's a hypothetical
scenario, practicing turtle soup on a
195
00:17:26,399 --> 00:17:30,120
daily high 33 30 would be your stop.
196
00:17:30,240 --> 00:17:32,340
33 30 33 14.
197
00:17:32,340 --> 00:17:40,500
Your entry looking for 32 80, but
we'll take profits at 15 and 20 pips.
198
00:17:46,330 --> 00:17:49,090
And this is one way you can
practice outside your demo account.
199
00:17:49,899 --> 00:17:51,370
So that way you don't
mess up your numbers too.
200
00:17:51,760 --> 00:17:53,889
It's important that you
keep really good, uh,
201
00:17:56,920 --> 00:17:59,230
really good, uh, eye on your draw down.
202
00:17:59,800 --> 00:18:01,240
Keep your focus on keeping that.
203
00:18:03,865 --> 00:18:07,044
Uh, the question is, why am
I electing to go with 33 30?
204
00:18:07,495 --> 00:18:11,905
Um, we've already punched through
the high here and we watched it
205
00:18:11,905 --> 00:18:13,284
snap through that real quickly.
206
00:18:13,915 --> 00:18:16,435
And it's pausing in here.
207
00:18:16,465 --> 00:18:22,825
So if, if it runs above this high
again, okay, it's probably going to
208
00:18:22,825 --> 00:18:25,645
expand that thirties 33 30 and run.
209
00:18:26,784 --> 00:18:29,575
And it's only a 16 PIP stop.
210
00:18:29,605 --> 00:18:30,534
So it's really small.
211
00:18:30,774 --> 00:18:32,784
It's not, not, not a big stop at all.
212
00:18:39,115 --> 00:18:44,935
What would make this a high probability
trade selling dollar CAD would, it
213
00:18:44,935 --> 00:18:50,794
would have to be in a downtrend if
you're selling old highs in a market
214
00:18:50,794 --> 00:18:56,735
that's bearish, that's high probability
because it's coming up above the market.
215
00:18:56,764 --> 00:18:59,105
Take out by stops the pair up neutral.
216
00:18:59,850 --> 00:19:03,780
And then the market maker role, Justin
sent price lower, uh, because we're
217
00:19:03,780 --> 00:19:05,730
actually selling short in an uptrend.
218
00:19:06,000 --> 00:19:06,270
Okay.
219
00:19:06,270 --> 00:19:09,149
Or, um, annoying bullish market.
220
00:19:10,139 --> 00:19:15,270
You're going to see the impacts of
having that in your face as, as a trader.
221
00:19:17,230 --> 00:19:20,770
It doesn't negate the potential of
making money or seeing trades form,
222
00:19:21,370 --> 00:19:27,970
but you don't get those real quick,
um, explosive one-sided response.
223
00:19:27,970 --> 00:19:30,610
As soon as you get in the marketplace,
if this was a downtrend and we
224
00:19:30,610 --> 00:19:34,120
went back above and old high,
then you would, it would probably
225
00:19:34,120 --> 00:19:35,590
already be below 30 to 80 by now.
226
00:19:36,520 --> 00:19:41,860
But because it's in a day, that's all
that in a day, but it's in a while.
227
00:19:41,870 --> 00:19:44,620
You can see every time it's made a new,
higher, high, higher, high, high, we
228
00:19:44,620 --> 00:19:46,060
can Molly down here, wipe this out.
229
00:19:48,790 --> 00:19:50,980
The fact that we cleared these highs
in here, all we're doing is looking
230
00:19:50,980 --> 00:19:53,110
for a very small, modest retracement.
231
00:19:53,110 --> 00:19:58,690
Just to number one, get more
sensitive to a monitoring price act.
232
00:19:59,550 --> 00:20:02,520
Reading levels anticipating
their responses, what
233
00:20:02,520 --> 00:20:03,750
usually happens around them.
234
00:20:04,380 --> 00:20:09,510
Um, and again, the idea is not in
the scope of making money, but it
235
00:20:09,510 --> 00:20:13,050
forces you to engagement where you're
watching and you're seeing, okay, well,
236
00:20:13,050 --> 00:20:14,670
they've already cleared 33 big figure.
237
00:20:15,360 --> 00:20:17,670
They've already cleared the 33 12 level.
238
00:20:18,030 --> 00:20:19,380
And by having those levels sweats,
239
00:20:28,930 --> 00:20:34,180
the, uh, because both of the 33 big
figure in a 33, 12 level has been swept.
240
00:20:34,810 --> 00:20:38,650
And so on a daily chart, these are
relatively equal highs as well.
241
00:20:38,980 --> 00:20:43,210
Uh, we get through, we, we really
quickly get through, come on bell.
242
00:20:45,070 --> 00:20:49,870
Once we had the 33 20 level hit,
there's a willingness sometimes to
243
00:20:49,870 --> 00:20:53,650
see it retrace and it can retrace back
down just gently to the big figure,
244
00:20:53,650 --> 00:20:55,960
33 big figure, the double zero level.
245
00:20:58,629 --> 00:21:02,230
To see price, come on way back
down and reach below the big
246
00:21:02,260 --> 00:21:04,450
figure as low as 30 to 80.
247
00:21:10,300 --> 00:21:14,470
Think of, um, like when, whenever
you see an, um, a big figure level,
248
00:21:14,470 --> 00:21:21,879
like the zero zero level, like 1
33, 0, 0 or 34, 0, 0 or 32 0, 0.
249
00:21:22,300 --> 00:21:28,030
Um, not just on this pair, but any pair,
um, think of, and I wish there was a way
250
00:21:28,030 --> 00:21:29,649
for me to actually draw this on here.
251
00:21:29,950 --> 00:21:31,510
I think there might be,
let me see if I can do it.
252
00:21:33,550 --> 00:21:34,389
Um,
253
00:21:39,200 --> 00:21:42,139
yeah, this might be a little sloppy
and this is the first time doing
254
00:21:42,139 --> 00:21:46,790
it, but just, I want to kind of give
you an illustration here right now
255
00:21:46,790 --> 00:21:54,649
watching this 33 30 becomes highly,
um, in, and it's basically in jeopardy.
256
00:21:55,010 --> 00:21:57,290
So the question is if you're in a
short and you're exercising, right.
257
00:21:57,990 --> 00:22:01,230
You have to, uh, you have the luxury
right now, either the collapsed, the
258
00:22:01,230 --> 00:22:05,220
exercise before the full stop, because
the understanding we were talking about
259
00:22:05,220 --> 00:22:09,570
is if it goes a run back up to this high
here, it's going to want to expand to
260
00:22:09,570 --> 00:22:12,029
the next year level, which is 33 30.
261
00:22:13,700 --> 00:22:18,410
So if you're watching this and we did
an exercise at 33 14, if it gets to this
262
00:22:18,410 --> 00:22:23,240
level here of here, let me try this.
263
00:22:23,750 --> 00:22:23,880
Yeah.
264
00:22:23,880 --> 00:22:26,420
If it gets above this high here,
it's going to want to expand to
265
00:22:26,420 --> 00:22:28,310
33 30 and then even run even more.
266
00:22:29,300 --> 00:22:30,290
And that would kill your trade.
267
00:22:30,830 --> 00:22:34,490
So even though we have a stop, a
hard stop or an idea where the stop
268
00:22:34,580 --> 00:22:39,560
should be, that is not an invitation
to take my money at a full stop.
269
00:22:39,620 --> 00:22:41,690
It's just a catastrophic stop.
270
00:22:41,720 --> 00:22:44,450
It's where you're willing to
take a loss and you definitely
271
00:22:44,450 --> 00:22:45,350
want to be out if it gets there.
272
00:22:46,215 --> 00:22:48,345
So if we're watching
price like this, okay.
273
00:22:48,345 --> 00:22:52,815
And we did an exercise at 33 14, as
it runs to this level here, you can
274
00:22:52,815 --> 00:22:56,715
actually preserve the amount of money
in between the runs of this high here
275
00:22:56,745 --> 00:22:57,975
and what your actual stop would be.
276
00:22:59,655 --> 00:23:01,305
And that's the, that's the benefit.
277
00:23:01,695 --> 00:23:02,205
I got a guy.
278
00:23:02,205 --> 00:23:04,425
I asked him, you know, what's the,
why would you want to do this?
279
00:23:04,725 --> 00:23:06,675
Well, it's too far gone
to chase it and buy it.
280
00:23:06,675 --> 00:23:06,975
Right?
281
00:23:07,095 --> 00:23:08,175
I mean, can we all agree that,
282
00:23:19,525 --> 00:23:22,135
I mean, there shouldn't be anybody
in here thinking I want to buy
283
00:23:22,135 --> 00:23:25,135
this right now, because if that's
the case, you've not even wants
284
00:23:25,135 --> 00:23:26,725
to anything in my free tutorials.
285
00:23:26,785 --> 00:23:28,495
I mean, we don't chase price like this.
286
00:23:28,495 --> 00:23:31,255
This is all a run on one
side of the marketplace.
287
00:23:32,665 --> 00:23:38,125
And it's a known area of liquidity
because we have these old highs up
288
00:23:38,125 --> 00:23:39,955
here where buy stocks will be residing.
289
00:23:40,495 --> 00:23:41,525
And we've already punched through that.
290
00:23:43,080 --> 00:23:48,510
The fact that we, excuse me, we get
through the 33, 12 level here, and
291
00:23:48,510 --> 00:23:52,830
we had a small little short term
high and market created what was
292
00:23:53,550 --> 00:23:55,170
looking like a swing high for me.
293
00:23:56,580 --> 00:23:59,520
It shouldn't run through that high
again, if it's going to be good
294
00:23:59,520 --> 00:24:05,010
and comes back down to the big 33
level, the takeaway from this is
295
00:24:05,490 --> 00:24:09,480
when you're watching the sensitivity
on price like this, let me do this.
296
00:24:09,480 --> 00:24:10,380
Let me get all this stuff off.
297
00:24:14,980 --> 00:24:16,630
If this is the big figure level here.
298
00:24:17,410 --> 00:24:17,770
Okay.
299
00:24:17,800 --> 00:24:19,000
1 33 big figure.
300
00:24:20,350 --> 00:24:24,580
We haven't been to 1 33 big figure until
this day right here on the daily chart.
301
00:24:26,790 --> 00:24:30,120
But when we reached to these, when
we reached to a big figure, okay.
302
00:24:32,320 --> 00:24:35,040
Think of the market maker,
offering price, like.
303
00:24:42,690 --> 00:24:49,830
And they'll expand up to an institutional
level 20 above the big 33 level.
304
00:24:51,389 --> 00:24:57,899
Once that happens, they can do a small
little retracement come back up and do
305
00:24:57,899 --> 00:25:03,780
something like this and then close in
the void, which should be over here.
306
00:25:05,780 --> 00:25:06,050
Okay.
307
00:25:06,080 --> 00:25:08,810
Does that make kind of make sense
when I'm referring to where they'll
308
00:25:08,810 --> 00:25:10,580
work a level like the big figure?
309
00:25:11,120 --> 00:25:11,570
Okay.
310
00:25:12,110 --> 00:25:18,950
Now this is not to scale on a five minute
chart, but when a market maker knows that
311
00:25:18,950 --> 00:25:23,540
there's going to be orders, that's going
to be all around that big figure level.
312
00:25:25,350 --> 00:25:29,909
So at 1 33 big figure, there's going to
be stacking orders and they're dying.
313
00:25:31,170 --> 00:25:34,050
In other words as the
market trades at this level.
314
00:25:34,230 --> 00:25:34,530
Okay.
315
00:25:34,530 --> 00:25:39,000
Folks that are long, they're going to
want to take profit at 33, 0 0 level.
316
00:25:39,780 --> 00:25:43,050
There's going to be folks that
think 33 0 0 level is a good selling
317
00:25:43,050 --> 00:25:45,120
position or a resistance level.
318
00:25:45,120 --> 00:25:46,950
So that there'll be sellers there.
319
00:25:47,340 --> 00:25:47,700
Okay.
320
00:25:47,820 --> 00:25:51,240
There'll be folks that think that once
it goes through 33, if it comes back down
321
00:25:51,240 --> 00:25:53,220
to it, there'll be willing buyers there.
322
00:25:54,360 --> 00:25:54,540
Okay.
323
00:25:54,540 --> 00:25:59,070
So what I'm saying is, is there's a ton
of interest around these big levels.
324
00:25:59,670 --> 00:26:00,060
Okay.
325
00:26:00,090 --> 00:26:03,660
And the market maker knows
that and he can make a book.
326
00:26:04,230 --> 00:26:04,560
Okay.
327
00:26:04,560 --> 00:26:08,220
Or build positions or square
positions or liquidate positions.
328
00:26:08,520 --> 00:26:08,910
Okay.
329
00:26:08,940 --> 00:26:15,660
Or engineer positions around the liquidity
forums at these big 33 or double zeros.
330
00:26:18,315 --> 00:26:21,014
The same thing happens
at institutional levels.
331
00:26:21,014 --> 00:26:24,795
Like the 20 level, it happens at the
50 level and happens at the 80 level.
332
00:26:25,335 --> 00:26:29,595
Not so much on the smaller levels outside
of those, but generally the algo will work
333
00:26:29,625 --> 00:26:34,004
the twenties, the fifties, the eighties,
and definitely the full zero zero levels.
334
00:26:41,085 --> 00:26:42,495
Let me see if I can get this off now.
335
00:27:03,615 --> 00:27:08,955
Um, well the, the exercise you'd already
collapsed it, you would already collapsed
336
00:27:08,955 --> 00:27:13,905
because we initially set our ideal
area where we don't see price traits.
337
00:27:13,905 --> 00:27:13,995
Right.
338
00:27:14,774 --> 00:27:19,245
Which would be this old high we would,
and then your stock will be gone.
339
00:27:19,245 --> 00:27:23,865
Then also we would have preserved equity
by like collapsing the trade early.
340
00:27:24,615 --> 00:27:28,995
And it would've given you screwed
us over here a little bit, so I
341
00:27:28,995 --> 00:27:30,284
can make some more points about it.
342
00:27:43,155 --> 00:27:47,235
The idea is obviously you can't, you
can't buy it because it's too far gone.
343
00:27:47,625 --> 00:27:50,955
I mean, there's nothing that it would
learn well for an idea to support it.
344
00:27:51,794 --> 00:27:56,715
So the only thing you can do is practice
it's responsiveness around levels
345
00:27:56,715 --> 00:27:59,024
where buy stops would be residing.
346
00:27:59,115 --> 00:28:04,004
So again, we got that big figure 33 and
in 33 12, which is the old daily high
347
00:28:04,014 --> 00:28:05,895
over here relative to the daily chart.
348
00:28:06,794 --> 00:28:11,564
And are we seeing a continuation
on the upside after expense?
349
00:28:13,065 --> 00:28:16,455
Or are we just reaching for what
will be stops above this level?
350
00:28:16,905 --> 00:28:18,825
And then see some
retracements sewing down.
351
00:28:20,815 --> 00:28:25,435
There's nothing you can do trade wise
here because of the fact that it's moved
352
00:28:25,435 --> 00:28:29,095
too far gone, for instance, like if you
bought it, if you wanted to go along
353
00:28:29,725 --> 00:28:32,685
and I'm believing, I'm playing devil's
advocate here, I'm not in enticing
354
00:28:32,875 --> 00:28:37,135
and trying to inspire you to do this,
but if you had a gun to your head, you
355
00:28:37,135 --> 00:28:39,145
know, why, where would you buy it at?
356
00:28:39,625 --> 00:28:41,005
And where would your stop loss be yet?
357
00:28:41,125 --> 00:28:42,385
And what would you be reaching for?
358
00:28:42,415 --> 00:28:43,435
What would be the objective.
359
00:29:05,760 --> 00:29:06,030
No.
360
00:29:20,220 --> 00:29:21,720
I got one guy that stepped out.
361
00:29:22,740 --> 00:29:27,270
He says, uh, we can buy a 33 big figure
and look for about 20 PIP run above it.
362
00:29:28,980 --> 00:29:36,840
Um, other folks are saying we could sell
it above 33, 20 level, 20 pips above it.
363
00:29:39,919 --> 00:29:41,540
Um, Larry, I see your comment.
364
00:29:41,570 --> 00:29:43,310
Why wouldn't this be a good day to buy?
365
00:29:43,580 --> 00:29:45,889
Um, we've already seen that.
366
00:29:46,010 --> 00:29:47,659
I don't know if you were
here when we first started.
367
00:29:47,659 --> 00:29:51,919
So kind of take the Liberty to go
back and say what I said earlier.
368
00:29:53,330 --> 00:29:55,130
Uh, we've already moved through 98, 55.
369
00:29:56,389 --> 00:29:56,600
Okay.
370
00:29:56,600 --> 00:29:58,189
So we went through.
371
00:29:59,085 --> 00:30:00,135
Came back retraced.
372
00:30:00,554 --> 00:30:02,655
We came back above it
again ahead of the news.
373
00:30:03,524 --> 00:30:03,794
Okay.
374
00:30:03,825 --> 00:30:06,645
So it was already above 90, 55.
375
00:30:07,034 --> 00:30:10,544
It already went twice
above the 98, 55 level.
376
00:30:10,575 --> 00:30:12,915
Now we're seeing some expansion
on dollar, which is nice nature.
377
00:30:12,915 --> 00:30:15,554
We should see dollar cat really run.
378
00:30:25,784 --> 00:30:27,524
Let's see what we're reaching for here.
379
00:30:46,835 --> 00:30:49,595
1 34 0 5 as the high here.
380
00:30:50,825 --> 00:30:54,425
So if we get some real expansion,
we could see a run there.
381
00:30:56,145 --> 00:30:56,865
Now, given that.
382
00:30:57,780 --> 00:31:02,159
If we can get a little bit of a
retracement and then a smaller order
383
00:31:02,159 --> 00:31:07,080
block forms because it's still early
in the day, but it has to do it faster.
384
00:31:07,080 --> 00:31:08,909
Can't you can't be waiting around for it.
385
00:31:09,750 --> 00:31:13,800
We could eat out or run
into that 1 34 big figure.
386
00:31:24,850 --> 00:31:28,090
But to answer your question, Larry,
um, he asks, why wouldn't it be a
387
00:31:28,090 --> 00:31:33,939
good day to be by, um, because the
news coming out and got to a 15 minute
388
00:31:33,939 --> 00:31:35,590
timeframe, cause this is too small for me
389
00:31:39,580 --> 00:31:40,330
ahead of the news.
390
00:31:40,330 --> 00:31:42,580
I would've rather seen
it come down and spike.
391
00:31:43,659 --> 00:31:47,169
As the news release occurred, I
would have really been excited
392
00:31:47,169 --> 00:31:51,280
about seeing it come down and trade
below this low and had that happen.
393
00:31:58,084 --> 00:32:00,485
Uh, move below that low, that
would have taken the stops out.
394
00:32:00,844 --> 00:32:07,054
It would justify why an upside expansion
would be seen, because if it's going
395
00:32:07,054 --> 00:32:09,544
to expand up, they want to take stops.
396
00:32:09,844 --> 00:32:11,735
And the only stops they
really took was this one here.
397
00:32:12,665 --> 00:32:17,435
And I immediately would have
expected this low here taken out
398
00:32:17,435 --> 00:32:20,344
before just this little one here
on all the news that's coming out.
399
00:32:20,794 --> 00:32:23,735
We had a high impact for Kat
and medium impact for dollar.
400
00:32:23,745 --> 00:32:27,245
So that would be certainly enough
for it to drive down below that low.
401
00:32:32,514 --> 00:32:37,645
And if it came down below that level,
permitted enough of a move down into this
402
00:32:37,645 --> 00:32:43,584
area here, which would justify also why
I was looking at the dollar this morning.
403
00:32:45,495 --> 00:32:49,275
And my, uh, my concern was its
unwillingness to expand right away off
404
00:32:49,275 --> 00:32:52,035
at 90, 55 level after doing it twice.
405
00:32:52,785 --> 00:32:57,315
And I was going above it
twice and it's Friday.
406
00:32:57,315 --> 00:33:02,835
So there was a lot of, uh, I would put it
this way for me to have wanted to buy it.
407
00:33:03,115 --> 00:33:05,475
It, it would have to take in
the stops out below the low.
408
00:33:05,925 --> 00:33:08,745
Otherwise it wouldn't, I wouldn't
be, I wouldn't be buying it.
409
00:33:08,745 --> 00:33:09,555
Say I was home.
410
00:33:09,975 --> 00:33:11,355
I wasn't doing a live session with you.
411
00:33:11,355 --> 00:33:12,915
I was dialed in focused everything.
412
00:33:13,155 --> 00:33:14,415
I would have missed this entire thing.
413
00:33:14,595 --> 00:33:18,615
It would've never happened for me
because it wouldn't have came down below.
414
00:33:18,615 --> 00:33:20,745
The lows would be willing to buy up,
415
00:33:27,925 --> 00:33:29,635
uh, 33 53.
416
00:33:29,995 --> 00:33:30,265
What's that?
417
00:33:30,265 --> 00:33:37,065
The daily so daily,
uh, hang on one second.
418
00:33:47,945 --> 00:33:51,095
You're talking about this level
here, Cain, this candle up candle.
419
00:33:55,325 --> 00:34:00,335
I'll tell you what these things
are always exactly where I don't
420
00:34:00,335 --> 00:34:01,595
want them to be at on my screen.
421
00:34:03,665 --> 00:34:09,125
And we think all around, uh, 33 55
422
00:34:14,715 --> 00:34:17,415
here, this one right here.
423
00:34:21,725 --> 00:34:25,235
Well, it's a sensitive, the opening
opening and closing of these candles here,
424
00:34:29,645 --> 00:34:30,575
these bodies here.
425
00:34:32,705 --> 00:34:33,935
And plus it's a mid figure.
426
00:34:34,895 --> 00:34:38,375
So I mean, that would be a objective
to reach for, but I think if it's
427
00:34:38,375 --> 00:34:41,315
going there, it's probably going
to want to wipe out those highs.
428
00:34:43,080 --> 00:34:47,070
Because ultimately, if you look back
here, we have a void that's still exposed.
429
00:34:47,070 --> 00:34:52,920
So 1 33, sorry, 1 36 is still over
the course of a couple of weeks.
430
00:34:53,010 --> 00:34:55,410
It could still happen
and they can go up there.
431
00:34:55,650 --> 00:34:56,850
It certainly doesn't want to look like it.
432
00:34:57,150 --> 00:34:58,920
I mean, this doesn't want
to go lower, obviously.
433
00:35:04,180 --> 00:35:04,420
Yeah.
434
00:35:04,870 --> 00:35:07,570
A couple of you were saying that
the banks had dialed in and there's
435
00:35:07,660 --> 00:35:09,100
the subscribing to my live stream.
436
00:35:09,100 --> 00:35:13,090
They're trying to kill Twitter and
they're, uh, they're not taking
437
00:35:13,090 --> 00:35:14,410
the stops out before the move now.
438
00:35:17,260 --> 00:35:17,950
Oh man.
439
00:35:19,060 --> 00:35:19,420
I don't know.
440
00:35:19,420 --> 00:35:19,930
It could be
441
00:35:35,330 --> 00:35:37,310
yeah, too much of your heads in, in.
442
00:35:40,845 --> 00:35:41,004
All right.
443
00:35:41,044 --> 00:35:46,095
Take a look at the, I can't do
anything right here with a dollar CAD.
444
00:35:48,015 --> 00:35:48,375
All right.
445
00:35:48,375 --> 00:35:50,685
So we have the buy stocks.
446
00:35:50,685 --> 00:35:54,615
We didn't quite get up
in there and hit those.
447
00:35:55,154 --> 00:35:56,685
I was hoping to see that didn't happen.
448
00:36:00,535 --> 00:36:03,145
Fiber, really making a run lower.
449
00:36:10,714 --> 00:36:21,395
This is our next liquidity pool down here
that gives us a potential run to 1 0 8
450
00:36:21,395 --> 00:36:25,834
21 0 8, 25 as a low on this candle here.
451
00:36:26,254 --> 00:36:27,604
So we have liquidity below there.
452
00:36:28,205 --> 00:36:31,444
And then if we get down to here, I
don't think we're stopping there.
453
00:36:31,595 --> 00:36:33,395
I just think that's the
next level going lower.
454
00:36:34,055 --> 00:36:36,814
I think what we need to be worrying
about, or not really so much worrying
455
00:36:36,814 --> 00:36:38,104
about, but contending ourselves.
456
00:36:40,100 --> 00:36:47,120
Is this right here between this,
between this low in this candle's high.
457
00:36:47,120 --> 00:36:47,810
What is this
458
00:36:57,040 --> 00:36:57,850
liquidity void?
459
00:37:00,460 --> 00:37:03,250
The market's been only offered
on what side of the marketplace.
460
00:37:10,420 --> 00:37:11,080
Exactly.
461
00:37:11,410 --> 00:37:15,009
So the price has been
offered on the upside.
462
00:37:15,430 --> 00:37:15,850
Okay.
463
00:37:17,500 --> 00:37:20,319
But it's not had any return
back down to that rain.
464
00:37:20,319 --> 00:37:25,150
So you would look at price
like this is like a big, y'all
465
00:37:25,150 --> 00:37:26,650
want neon signs on your chart.
466
00:37:26,660 --> 00:37:29,110
So when you first start as a trader,
this is what it would look like.
467
00:37:30,009 --> 00:37:31,690
Neon sign down here.
468
00:37:31,690 --> 00:37:36,860
There's all kinds of interest to
close in that range here between this.
469
00:37:37,860 --> 00:37:38,790
In this candle's high.
470
00:37:39,510 --> 00:37:42,960
That's what broke, when this came up,
it went up, it broke this up candles
471
00:37:42,960 --> 00:37:48,000
high here, all this retracement
down stopped right here and it left
472
00:37:48,060 --> 00:37:53,970
this little area of price action in
commodity trading or stock trading.
473
00:37:54,720 --> 00:38:00,660
Um, this would sometimes appear on your
chart on a daily chart as a gap where
474
00:38:00,660 --> 00:38:04,350
price wouldn't be traded to, and it
would be referred to as a common gap.
475
00:38:04,860 --> 00:38:09,450
So when we hear things like, uh, like
crystal Ray, and I only wanna really
476
00:38:09,450 --> 00:38:12,720
talk about liquidity voids, um, it's
really essentially just a common gap.
477
00:38:12,900 --> 00:38:13,740
That's all it really is.
478
00:38:14,010 --> 00:38:21,360
So if I really was going to speak in terms
of what technical analysis is, um, uh, you
479
00:38:21,360 --> 00:38:26,250
know, what technical analysis refers to
in, in, in the scope of liquidity voids,
480
00:38:26,730 --> 00:38:29,430
uh, they've always been around, okay.
481
00:38:29,550 --> 00:38:32,490
D this has been called common gaps, so.
482
00:38:33,404 --> 00:38:37,904
Uh, Chris and I aren't pioneering
anything in regards to making a
483
00:38:37,904 --> 00:38:39,645
label calling it liquidity voids.
484
00:38:39,944 --> 00:38:45,455
It's just, there has been no price,
uh, traded to specific levels.
485
00:38:45,455 --> 00:38:49,245
So, uh, when we see gaps like
that, even though we don't really
486
00:38:49,245 --> 00:38:55,935
see a gap in price because it's 24
hours, it still exists down here.
487
00:38:56,475 --> 00:39:00,465
So price was down here and then it gapped
up in the here, nothing was offered
488
00:39:00,465 --> 00:39:02,265
on the sell side, through that range.
489
00:39:02,355 --> 00:39:02,985
That's shaded.
490
00:39:03,555 --> 00:39:07,485
So there's going to be a big impulse
or a willingness to want to get down
491
00:39:07,485 --> 00:39:12,165
in there because this has been exposed
as a gap down there in the market,
492
00:39:12,165 --> 00:39:13,575
wants to be efficient about that.
493
00:39:13,935 --> 00:39:18,585
And the algo knows by its historical
reference that there's been little
494
00:39:18,585 --> 00:39:20,535
to no training down in there.
495
00:39:21,315 --> 00:39:23,985
And by the fault it will
expand to go to that level.
496
00:39:26,205 --> 00:39:31,920
Um, well, in terms of efficient,
And delivery of price.
497
00:39:32,339 --> 00:39:33,990
That's why the algo we'll go back to it.
498
00:39:33,990 --> 00:39:38,850
And that's why, before everything
went electronic, the market makers
499
00:39:38,850 --> 00:39:43,500
would actually offer prices in these
areas and it would, they would drive
500
00:39:43,500 --> 00:39:47,310
price to their known common gaps.
501
00:39:47,819 --> 00:39:52,799
When you, uh, when you look at old,
like I was saying, I look at old S and P
502
00:39:53,310 --> 00:39:58,109
contracts look how the S and P would trade
before it went to electronic trading.
503
00:39:59,759 --> 00:40:02,790
It would always go and close in its gaps.
504
00:40:03,089 --> 00:40:08,220
You know, wherever today say's opening
would be relative to yesterday's closed.
505
00:40:08,520 --> 00:40:13,230
And I would say we gap down on the S
and P um, it would go up to the previous
506
00:40:13,230 --> 00:40:16,980
day's low or up to the previous days
close, and that would be a trade.
507
00:40:16,980 --> 00:40:18,359
And I taught this in the late nineties.
508
00:40:18,690 --> 00:40:23,430
Um, that's an easy way of trading the S
and P um, looking at where the previous
509
00:40:23,430 --> 00:40:25,859
days close was and where we opened.
510
00:40:27,089 --> 00:40:29,700
And you can do two trades with
that, depending on how big the
511
00:40:29,700 --> 00:40:33,480
gap is relative to where we
closed and where we open today.
512
00:40:33,480 --> 00:40:34,620
So today's opening.
513
00:40:35,549 --> 00:40:40,859
If it runs up into previous days, low
effort gap down at the new opening.
514
00:40:40,950 --> 00:40:45,870
If it's at lower opening, it'll
trade back up to previous days, low
515
00:40:46,290 --> 00:40:50,759
or previous days close, whichever
is lower is the low-hanging fruit.
516
00:40:51,330 --> 00:40:56,069
If you have a good objective or a
nice range between today's opening and
517
00:40:56,069 --> 00:41:01,650
yesterday's low, and it got down when
you're opening today, it would many times
518
00:41:01,980 --> 00:41:05,790
it would provide me my morning trade in
the S and P and I would be buying it up
519
00:41:05,790 --> 00:41:10,319
to that point and that would square my
positions, or I would take 70% of it off.
520
00:41:10,950 --> 00:41:13,680
And then I would let the remaining
portion run to see if it would
521
00:41:13,680 --> 00:41:14,910
get to the previous days close.
522
00:41:14,910 --> 00:41:17,370
If the close was higher
than previous day's low.
523
00:41:17,880 --> 00:41:19,230
And obviously the same
thing would be said.
524
00:41:19,230 --> 00:41:24,735
If, if today's gap opening would
be higher than previous day, Hi, or
525
00:41:24,735 --> 00:41:29,535
previous days close, the idea would
be you would sell S and P with a move
526
00:41:29,535 --> 00:41:33,465
to previous days high for previous
days, close, whichever is lower.
527
00:41:34,035 --> 00:41:37,185
And that's the morning session
trade for S and P trading.
528
00:41:37,485 --> 00:41:40,995
Well, the point in why I'm talking about
that is the fact that you would get
529
00:41:41,235 --> 00:41:45,615
sessions closings and succession openings,
which you don't see so much on four X
530
00:41:45,615 --> 00:41:51,765
because it's 24 7, well, not 20%, but 24
hours a day, Monday through Friday, the,
531
00:41:52,485 --> 00:41:58,155
the element of common gaps are not seen
because it looks like the market's fluid.
532
00:41:58,455 --> 00:42:01,185
It's, it's efficient
in every, every aspect.
533
00:42:01,215 --> 00:42:04,035
And when it's not, there's
periods of inefficiency, which
534
00:42:04,035 --> 00:42:05,085
is what this is down here.
535
00:42:05,145 --> 00:42:08,865
And the fact that it creates that
common gap, that's all it is.
536
00:42:08,865 --> 00:42:09,645
It's common gap.
537
00:42:10,905 --> 00:42:12,795
It's going to want to close in that.
538
00:42:13,065 --> 00:42:20,055
And if you get that on a hard timeframe,
it drawls, um, long-term trend.
539
00:42:20,055 --> 00:42:21,735
And it doesn't, it can
kind of go from one.
540
00:42:22,545 --> 00:42:24,495
Down to 1 0 6, okay.
541
00:42:24,555 --> 00:42:25,275
And one move.
542
00:42:25,305 --> 00:42:30,015
And ain't gonna do that one day,
but it it's like a big neon sign.
543
00:42:30,015 --> 00:42:32,595
Like we're saying that using
an analogy that this is, what's
544
00:42:32,595 --> 00:42:33,915
going to draw a price down there.
545
00:42:34,365 --> 00:42:39,165
The fact that this gaps there, why it
has to happen or why it should happen
546
00:42:39,225 --> 00:42:47,895
is because you have to offer price on
both sides to be an efficient market.
547
00:42:48,075 --> 00:42:52,964
It can't just be only buyers because
otherwise, um, like we discussed
548
00:42:52,964 --> 00:42:57,105
with the cat, you know, it's too
far gone on the upside for us to
549
00:42:57,105 --> 00:42:59,444
buy it, see if he can't buy it.
550
00:43:00,075 --> 00:43:03,255
You know, what's that, what's that
for traders to do either sit on their
551
00:43:03,255 --> 00:43:06,045
hands or do what we were doing earlier.
552
00:43:06,285 --> 00:43:07,095
Just doing an exercise.
553
00:43:07,095 --> 00:43:08,865
See if we can see if we can
get some kind of sell off
554
00:43:08,865 --> 00:43:11,325
after running at the a 1 33 12.
555
00:43:16,820 --> 00:43:21,110
Would I consider selling Looney at
London close and maybe down 30% on it?
556
00:43:21,560 --> 00:43:23,780
Um, no, I wouldn't want to do that.
557
00:43:24,110 --> 00:43:26,570
Uh, the only thing I would've been
interested in is what we were showing here
558
00:43:26,570 --> 00:43:31,730
as an exercise at 33 big figure in 33 12,
if there was going to be any meaningful.
559
00:43:31,880 --> 00:43:36,290
Um, so off at least for today,
and I don't want to go into
560
00:43:36,290 --> 00:43:40,540
the weekend, um, with anything.
561
00:43:41,320 --> 00:43:45,430
I just don't, I don't trust the conditions
of the marketplace right now, and I'm
562
00:43:45,430 --> 00:43:48,940
expecting something to happen over
the weekend in the next coming weeks.
563
00:43:49,150 --> 00:43:51,460
And I don't want to be
exposed to anything like that.
564
00:44:01,270 --> 00:44:05,800
I believe that the, uh, Euro dollar
will be at parody with the dollar.
565
00:44:06,100 --> 00:44:06,910
That's my longterm.
566
00:44:11,060 --> 00:44:13,640
So, yes, I do believe that your
a dollar will go lower than that.
567
00:44:13,640 --> 00:44:14,480
And liquidity boy did.
568
00:44:14,480 --> 00:44:15,290
I just showed you
569
00:44:22,609 --> 00:44:24,049
Euro pound.
570
00:44:24,770 --> 00:44:24,859
Okay.
571
00:44:26,580 --> 00:44:27,180
That's a mess.
572
00:44:27,180 --> 00:44:27,540
Isn't it?
573
00:44:59,720 --> 00:45:00,230
I don't know.
574
00:45:01,995 --> 00:45:02,925
Some more downside.
575
00:45:02,925 --> 00:45:04,635
We could probably go
down to 83, I'm sorry.
576
00:45:04,665 --> 00:45:07,394
88, 35 to 88 50.
577
00:45:09,135 --> 00:45:13,875
That would close this void in here,
which is defined by this candle is
578
00:45:13,875 --> 00:45:16,635
low in this candle's high right here.
579
00:45:22,165 --> 00:45:23,215
I'm going to be honest with you.
580
00:45:23,275 --> 00:45:26,515
No, one's really said anything about this,
but I will kind of think out loud here.
581
00:45:26,515 --> 00:45:29,245
And it might be because I had some
personal things going on, but even looking
582
00:45:29,245 --> 00:45:37,645
at the market in hindsight, um, this
week has been a little difficult for me.
583
00:45:37,975 --> 00:45:38,935
And I'll be honest with you.
584
00:45:38,935 --> 00:45:41,785
I'm not saying that there
wasn't opportunities there.
585
00:45:43,435 --> 00:45:47,875
I mean, obviously I made my weekly
objective to keep records of,
586
00:45:47,905 --> 00:45:53,635
uh, opportunities, but outside
of that, um, I, I just think that
587
00:45:53,725 --> 00:45:56,215
this week was a little weird.
588
00:45:56,795 --> 00:45:58,525
It wasn't a lot of symmetry
in the marketplace.
589
00:46:01,200 --> 00:46:03,810
But I think that dollar,
I'm sorry, you're a pound.
590
00:46:04,080 --> 00:46:07,050
Um, we're probably gonna come down
here and close that void in, but let
591
00:46:07,050 --> 00:46:10,320
me comment on about why I felt that
this week was a little difficult,
592
00:46:11,970 --> 00:46:15,060
um, on a dollar, on a daily chart,
593
00:46:18,910 --> 00:46:23,170
we had watched this, um,
98, 55 level four weeks.
594
00:46:23,380 --> 00:46:26,260
And we talked about that level actually,
when price was down here, if you go
595
00:46:26,260 --> 00:46:30,280
back and look at the September videos,
in fact, if you go back on the YouTube,
596
00:46:30,730 --> 00:46:34,960
you actually hear me talk about it in
August, this specific 98, 55 level.
597
00:46:34,990 --> 00:46:36,910
And we were, we were
bullish on the dollar.
598
00:46:37,720 --> 00:46:41,470
If, and more specifically, I told you
that we were around in rounding the,
599
00:46:41,530 --> 00:46:44,080
uh, the market out here finding a low.
600
00:46:44,440 --> 00:46:48,400
And I used the dollar CAD to
support that idea that the dollar
601
00:46:48,400 --> 00:46:49,540
index should be going higher.
602
00:46:51,490 --> 00:46:54,190
The fact that we had this
one down candle, right?
603
00:46:55,595 --> 00:46:56,075
Okay.
604
00:46:56,134 --> 00:47:00,035
This one down candle, we're
watching the middle of that candle.
605
00:47:00,815 --> 00:47:05,105
Now, obviously, you know, my tools and
my concepts say that we don't want to see
606
00:47:05,105 --> 00:47:08,884
the, the middle of the range be given up.
607
00:47:11,935 --> 00:47:12,415
And
608
00:47:15,525 --> 00:47:19,695
we had it here and I was uncertain
about what we were going to see here.
609
00:47:19,725 --> 00:47:21,735
And I thought, well, okay, well
we'll probably come down and close
610
00:47:21,735 --> 00:47:22,875
a little bit of the void in here.
611
00:47:23,715 --> 00:47:24,435
It didn't do that.
612
00:47:25,155 --> 00:47:27,225
It just held around, held
around, held around, and then
613
00:47:27,225 --> 00:47:29,325
all of a sudden ECB this week.
614
00:47:30,134 --> 00:47:34,695
So if I would have been more active, okay.
615
00:47:34,695 --> 00:47:37,845
If I would've been more active
this week, I'm almost certain
616
00:47:38,505 --> 00:47:39,495
I would have had a loss.
617
00:47:39,675 --> 00:47:42,795
I would have been able
to absorb a losing trade.
618
00:47:43,725 --> 00:47:48,435
Um, the fact that the
dollar didn't perform.
619
00:47:49,440 --> 00:47:54,600
At this level, like I was expecting, um,
we, we spent a couple of times dipping
620
00:47:54,600 --> 00:48:00,060
down in the lower end of this down candle,
which is not what I like to see happen.
621
00:48:00,569 --> 00:48:03,150
So it doesn't, it didn't
line up with my expectations.
622
00:48:03,450 --> 00:48:08,310
Now here's the thing, despite the fact
that I, and everyone has been expecting
623
00:48:08,310 --> 00:48:13,560
98, 55, I will be reached for, I wasn't
comfortable being a buyer down in here.
624
00:48:13,980 --> 00:48:16,380
$1, we looked at 97 70.
625
00:48:16,380 --> 00:48:21,740
And if you look at the 30
minute chart, we had that, uh,
626
00:48:25,130 --> 00:48:26,390
there is, I thought I lost it.
627
00:48:26,839 --> 00:48:28,819
We had the 97, 70 level stops.
628
00:48:29,359 --> 00:48:31,670
We knew that that was
likely to be cleared out.
629
00:48:31,700 --> 00:48:35,720
It did that, and it stopped beautifully
around there, but it didn't do much in
630
00:48:35,720 --> 00:48:42,440
the way of providing any more, um, buying
until the ECB and unemployment numbers
631
00:48:42,440 --> 00:48:44,270
came out, which is this movement here.
632
00:48:45,200 --> 00:48:50,495
And again, I don't, I don't, I
just don't personally see it.
633
00:48:50,645 --> 00:48:53,045
And I might look at this next
week and say, oh, there it was.
634
00:48:53,645 --> 00:48:54,605
But real time.
635
00:48:54,965 --> 00:48:58,475
And with everything that's going on this
week, you know, I just didn't see it.
636
00:49:00,875 --> 00:49:04,205
So if you've had, if you had a little
difficulty this week, just know that, you
637
00:49:04,205 --> 00:49:05,555
know, I'm looking at it too the same way.
638
00:49:05,585 --> 00:49:12,185
I didn't feel, um, I didn't feel dialed
in or plugged in at all this week.
639
00:49:14,375 --> 00:49:17,795
And it's, you know, it's going
to happen regardless of how long
640
00:49:17,795 --> 00:49:22,835
you're trading and you're going to
either get in sync or you're not.
641
00:49:24,155 --> 00:49:25,535
And it's important that it's okay.
642
00:49:25,535 --> 00:49:30,485
It's normal just because, um, you
know, I'm giving a mentorship here.
643
00:49:30,485 --> 00:49:34,325
I'm teaching stuff doesn't in
no way, shape or form mean that
644
00:49:34,325 --> 00:49:36,065
I'm going to be 100% accurate.
645
00:49:36,365 --> 00:49:42,935
In fact, um, it's actually very comforting
to be able to talk about this and kind
646
00:49:42,935 --> 00:49:44,345
of like reassure most of you that.
647
00:49:45,450 --> 00:49:49,890
If you haven't seen certain setups paint
out this week, don't feel upset about
648
00:49:49,890 --> 00:49:53,610
that because I've had the same feeling
about looking at prices in dollars.
649
00:49:53,610 --> 00:49:57,090
Been a little weird for me and it
might've been just because the ECB
650
00:49:57,090 --> 00:50:03,330
had to come out, uh, on, uh, on the
20th and do what it needed to do.
651
00:50:10,420 --> 00:50:10,870
Yeah.
652
00:50:10,960 --> 00:50:18,400
Um, then after I tried to get folks to,
um, to sign in with the, uh, let me see
653
00:50:18,400 --> 00:50:19,450
how many people I've got in here now.
654
00:50:21,070 --> 00:50:21,370
All right.
655
00:50:21,370 --> 00:50:22,540
I got 111 people.
656
00:50:22,540 --> 00:50:26,920
That's about one quarter of what usually
shows up in the New York session.
657
00:50:30,470 --> 00:50:32,030
But, uh, yeah, my Twitter is down.
658
00:50:32,150 --> 00:50:35,795
It's been down since, uh, it
said that it was reporting 7:22
659
00:50:35,795 --> 00:50:38,330
AM in Eastern standard time.
660
00:50:38,840 --> 00:50:44,210
But, uh, I, I couldn't do
Twitter as early as 6 59.
661
00:50:46,350 --> 00:50:48,420
So 10 minutes before seven
o'clock this morning, I couldn't
662
00:50:48,420 --> 00:50:50,339
sign in or log into Twitter.
663
00:50:50,759 --> 00:50:52,920
And I was a little bit panicked
because I'm thinking, how am
664
00:50:52,920 --> 00:50:53,970
I going to reach you people?
665
00:50:54,509 --> 00:50:58,150
So I just put it on the forum
and if you're listening, I'm just
666
00:50:58,150 --> 00:50:59,100
going to remind you all here.
667
00:50:59,580 --> 00:51:01,890
Um, there's a subscribe button.
668
00:51:02,250 --> 00:51:03,779
Let me see if I can show
it real quick on the,
669
00:51:07,509 --> 00:51:09,160
make sure I have this in the recording.
670
00:51:09,160 --> 00:51:10,180
That way you guys can see it.
671
00:51:35,400 --> 00:51:35,730
Oops.
672
00:51:36,330 --> 00:51:36,900
Spelled that wrong.
673
00:52:04,860 --> 00:52:05,310
Yeah.
674
00:52:20,350 --> 00:52:20,980
Are you kidding me?
675
00:52:20,980 --> 00:52:22,120
I'm locking out my own house.
676
00:52:22,180 --> 00:52:22,870
What's going on here?
677
00:52:27,550 --> 00:52:28,450
Oh, good grief.
678
00:52:28,480 --> 00:52:29,650
I'm using the capital L.
679
00:52:39,210 --> 00:52:39,750
There you go
680
00:52:42,810 --> 00:52:43,410
man alive.
681
00:52:43,410 --> 00:52:44,069
I was getting nervous.
682
00:52:44,069 --> 00:52:45,720
I'm like, oh, something's really going on.
683
00:52:47,430 --> 00:52:50,970
Cause you go into the forum
and you go to the thread like
684
00:52:51,839 --> 00:52:53,069
October, February inactive.
685
00:52:53,069 --> 00:52:59,040
Now there is a little
button on any supposed it's.
686
00:53:00,660 --> 00:53:03,990
This is why it's important that you
have your email address linked to this.
687
00:53:05,160 --> 00:53:06,210
There's a button over here.
688
00:53:06,210 --> 00:53:07,890
Like here I have, um, subscribed.
689
00:53:07,890 --> 00:53:10,950
So when you're in the forum,
if you have not subscribed
690
00:53:10,950 --> 00:53:14,730
to the October thread, okay.
691
00:53:15,060 --> 00:53:18,660
You need to click on
subscribe when you do that.
692
00:53:19,049 --> 00:53:19,470
Okay.
693
00:53:19,710 --> 00:53:25,710
You'll get notifications and it'll go to
your email address and it'll prompt you
694
00:53:25,770 --> 00:53:27,960
with anything that I've sent to the form.
695
00:53:28,319 --> 00:53:32,040
So when I put new content, um,
say your Twitter notifications
696
00:53:32,040 --> 00:53:34,859
are turned off because I'm might
go into a Twitter rant one time.
697
00:53:35,009 --> 00:53:35,960
I don't try to do it with.
698
00:53:37,065 --> 00:53:41,235
Twitter feed, but if it happens, you
might want to delete or turn off the
699
00:53:41,235 --> 00:53:44,625
notifications while over the weekend and
just read them at your leisure later on.
700
00:53:46,065 --> 00:53:50,115
If you subscribe to the threads, the
content threads, every time there's
701
00:53:50,115 --> 00:53:53,505
a new post made by me, it'll notify
you that we don't have to keep
702
00:53:53,505 --> 00:53:56,235
coming back and checking the thread
and see if there's something there.
703
00:53:57,015 --> 00:54:00,795
But also more importantly, I can
reach out to you in the event
704
00:54:00,795 --> 00:54:01,725
at Twitter like it is today.
705
00:54:01,725 --> 00:54:06,185
Cause I didn't think about Twitter ever
going down, but, uh, that would be a
706
00:54:06,195 --> 00:54:08,715
good way for us to be able to connect.
707
00:54:17,005 --> 00:54:17,125
You.
708
00:54:17,125 --> 00:54:19,585
Don't have a subscribe
button on, uh, on your end.
709
00:54:19,645 --> 00:54:21,415
A couple of people are saying
that you don't have that.
710
00:54:30,235 --> 00:54:30,835
Oh, that's weird.
711
00:54:30,835 --> 00:54:31,825
Some of you you're saying you do.
712
00:54:31,825 --> 00:54:33,025
And some of you just saying you don't.
713
00:54:35,325 --> 00:54:39,134
Yeah, you got to scroll all the
way down to the bottom very bottom
714
00:54:39,285 --> 00:54:41,174
and you'll see, you should see it.
715
00:54:49,025 --> 00:54:49,174
Yeah.
716
00:54:49,174 --> 00:54:53,825
You'll probably have to go through your PC
to do it and allow you guys are cheating
717
00:54:53,825 --> 00:55:00,904
at work and doing things you shouldn't be
doing, but that's one way we can stay in
718
00:55:00,904 --> 00:55:03,785
contact with one another real important.
719
00:55:04,865 --> 00:55:09,855
I learned a lesson today about the,
having a backup, cause I didn't think
720
00:55:09,855 --> 00:55:11,924
about it at all until this morning.
721
00:55:14,775 --> 00:55:15,015
All right.
722
00:55:15,015 --> 00:55:16,575
So here we are with dollar.
723
00:55:20,895 --> 00:55:22,125
Where did we spike up to here?
724
00:55:24,915 --> 00:55:26,625
33 51.
725
00:55:54,250 --> 00:55:54,520
Yeah.
726
00:55:54,520 --> 00:55:55,900
You know what French,
I think you're right.
727
00:55:55,900 --> 00:56:03,100
If I'm just editing, if I'm
editing a forum post, it's not
728
00:56:03,100 --> 00:56:04,120
going to probably read that.
729
00:56:04,120 --> 00:56:07,630
Like, you're like you're saying
here, but if I send out a post, like
730
00:56:07,630 --> 00:56:12,880
a link to the forum, sorry to the
live sessions, it would be a, it
731
00:56:12,880 --> 00:56:14,440
should generate you a notification.
732
00:56:14,980 --> 00:56:15,640
And that's what I'm saying.
733
00:56:15,640 --> 00:56:17,770
I would, I would do that going forward.
734
00:56:21,970 --> 00:56:22,300
All right.
735
00:56:22,300 --> 00:56:24,340
So the exercise that we did.
736
00:56:25,995 --> 00:56:33,275
We're looking at potentially selling on
a 1 33 14 with a stop at 33 30 16 pips.
737
00:56:33,275 --> 00:56:38,715
Stop with an objective down to
32 30 and scaling up 15, 20 pips.
738
00:56:40,455 --> 00:56:44,475
Uh, we were able to preserve the full stop
cause we were identifying where the market
739
00:56:44,475 --> 00:56:47,835
shouldn't go to and it went to the level.
740
00:56:47,835 --> 00:56:57,065
We would be wanting to kill the trade at
so very small, um, negative response, but
741
00:56:57,305 --> 00:57:01,715
it's experience nonetheless again, you
can't buy it when it takes off like that.
742
00:57:01,955 --> 00:57:04,325
You gotta work with what
levels have been given to you.
743
00:57:24,555 --> 00:57:27,195
Is that total daily
high, miss the big figure
744
00:57:49,995 --> 00:57:50,715
cable.
745
00:58:02,295 --> 00:58:07,185
Yeah, I don't, I mean, I know I
want to see it go lower, but just
746
00:58:07,185 --> 00:58:10,185
don't know where I want to sell
it at and be comfortable doing.
747
00:58:15,795 --> 00:58:17,175
Um, that's a good question, Brian.
748
00:58:17,235 --> 00:58:21,795
Um, in my early days of train, would I
get mad about missing moves like this?
749
00:58:22,725 --> 00:58:28,635
Um, yeah, I mean, I, I've already
divulged that spent a lot of money
750
00:58:28,635 --> 00:58:33,705
on replacing monitors that would get
mad about all that stuff, especially
751
00:58:33,705 --> 00:58:38,235
if I was expecting to move ahead of
time and if it took off without me.
752
00:58:38,265 --> 00:58:38,835
Oh man.
753
00:58:39,105 --> 00:58:41,865
Because I was thinking like
everyone else does, you know,
754
00:58:41,865 --> 00:58:44,325
that's the only trait that's ever
going to exist and I missed it.
755
00:58:44,325 --> 00:58:49,095
So therefore my trading career is over
when in fact it's not true at all.
756
00:59:04,275 --> 00:59:07,155
So it's for my personal journal.
757
00:59:09,450 --> 00:59:13,080
The, the idea of logging.
758
00:59:13,950 --> 00:59:18,870
And obviously I'll have a lot to say
to my journal about what happened
759
00:59:18,870 --> 00:59:19,860
in my personal life this week.
760
00:59:20,460 --> 00:59:27,630
And I'm admittedly going to attribute
a lot of that to why I feel off from
761
00:59:27,630 --> 00:59:32,490
the middle point of the week to,
to Friday's close, but technically
762
00:59:32,490 --> 00:59:37,890
speaking, um, the hiccup in the dollar,
like I was saying here, this kind of
763
00:59:37,890 --> 00:59:41,010
threw me off a little bit, cause this
is not what I like to see happen.
764
00:59:41,340 --> 00:59:45,060
Even though we have 98, 55 upside
objective noted in advance.
765
00:59:45,630 --> 00:59:48,210
Um, I wasn't able to capitalize on it.
766
00:59:48,840 --> 00:59:55,770
So when I log my journal, I will
give feedback to myself saying, okay.
767
00:59:56,040 --> 01:00:01,380
Um, the objectives that I called
for 1955 were met on dollar.
768
01:00:01,980 --> 01:00:05,210
Um, the downside objectives on your.
769
01:00:10,410 --> 01:00:17,220
On these cell staffs were hit, uh,
the 1 10 40 cell level 1, 10 35
770
01:00:17,220 --> 01:00:22,110
cell level prior to the gun only
stops, um, panned out this week.
771
01:00:22,650 --> 01:00:25,470
Um, I focus on the strengths first.
772
01:00:25,530 --> 01:00:28,350
I spent a lot of time
on what I did, right.
773
01:00:28,500 --> 01:00:31,050
Or what I expected to see
happen in the marketplace.
774
01:00:31,290 --> 01:00:33,960
It's very important that
you keep reminding yourself
775
01:00:33,960 --> 01:00:35,010
of that in your journal.
776
01:00:35,820 --> 01:00:41,160
Um, but you always close the journal
with things that you learned or what
777
01:00:41,160 --> 01:00:45,300
you discovered or what happened that
were outside the scope of what you're
778
01:00:45,300 --> 01:00:50,880
into expectation or anticipate, uh,
anticipation, anticipation, and your
779
01:00:51,210 --> 01:00:58,590
anticipatory skillsets were leading
you to believe so by having a balance,
780
01:00:58,650 --> 01:01:02,850
but more specifically, you have to
let journals like your, your accounts.
781
01:01:03,795 --> 01:01:08,355
Yeah, the journals like your,
uh, your, your sense of, um,
782
01:01:09,765 --> 01:01:12,795
encouragement, because it's very easy.
783
01:01:12,795 --> 01:01:16,274
And I'll tell you, and I'll speak on
this because it was mentioned a couple
784
01:01:16,274 --> 01:01:21,944
minutes ago by, uh, one of the members
in my early days, I would be so mad
785
01:01:22,395 --> 01:01:26,835
and so tore up about missing a move,
especially in this nothing happened
786
01:01:26,835 --> 01:01:30,645
this week, that was astronomical, that
can't be seen on any other given week.
787
01:01:30,855 --> 01:01:32,174
It's not been that much of movement.
788
01:01:33,165 --> 01:01:36,134
You can't see these types of
moves happen on a regular basis.
789
01:01:36,705 --> 01:01:39,495
What makes it frustrating?
790
01:01:39,734 --> 01:01:43,725
And what made it frustrating as
a new trader is the fact that it
791
01:01:43,725 --> 01:01:48,194
would go right to the levels like
we have here 1, 10 40, right.
792
01:01:48,194 --> 01:01:48,645
To the PIP.
793
01:01:48,645 --> 01:01:51,884
And then it was run in, in
my, in my direction of choice.
794
01:01:52,875 --> 01:01:56,024
If I was not able to capitalize
on that or take a position on
795
01:01:56,024 --> 01:01:58,384
it, I would literally punish my.
796
01:02:00,020 --> 01:02:03,590
I would beat myself up emotionally,
intentionally, uh, you know,
797
01:02:04,279 --> 01:02:06,440
you saying this is stupid.
798
01:02:06,440 --> 01:02:09,170
I should have not, I shouldn't have
done this or I should've done that or
799
01:02:09,170 --> 01:02:10,640
I should have just jumped in early.
800
01:02:11,240 --> 01:02:15,259
And I found that that was actually
creating a toxic thinking and it would
801
01:02:15,259 --> 01:02:20,000
always push me into trades that I
shouldn't be taking as a result because
802
01:02:20,000 --> 01:02:24,319
I'd have to feel like the trader and you
can't be a trader unless you're trading.
803
01:02:24,350 --> 01:02:24,650
Right?
804
01:02:25,160 --> 01:02:34,180
So the point is to avoid all that, to
avoid all that you have to, uh, number
805
01:02:34,180 --> 01:02:38,500
one, stay focused on reminding yourself
that every opportunity that comes
806
01:02:38,500 --> 01:02:40,840
your way, isn't the last opportunity.
807
01:02:41,110 --> 01:02:42,580
There's always new opportunities.
808
01:02:43,150 --> 01:02:48,620
And the fact that, uh, you know, you're
going to have missed opportunities.
809
01:02:48,770 --> 01:02:49,460
You're going to miss.
810
01:02:49,460 --> 01:02:50,690
Here's the thing you're.
811
01:02:50,690 --> 01:02:53,299
And I've said this many times
before, you're going to miss
812
01:02:53,299 --> 01:02:54,410
more trades than you make.
813
01:02:56,560 --> 01:02:57,970
And that's a problem for a new trader.
814
01:02:58,030 --> 01:02:59,470
It's like, well, that shouldn't happen.
815
01:02:59,980 --> 01:03:01,750
If you're a new trader, okay.
816
01:03:01,930 --> 01:03:05,860
You're thinking your system's going to
give you a trade every five minutes.
817
01:03:05,920 --> 01:03:07,840
And you're going to take a
trade every five minutes.
818
01:03:07,870 --> 01:03:12,850
And every one of them are going to
be winners and that's not realistic.
819
01:03:12,850 --> 01:03:14,050
That's not going to happen.
820
01:03:14,050 --> 01:03:14,320
It's first.
821
01:03:14,320 --> 01:03:15,040
It's never going to happen.
822
01:03:15,130 --> 01:03:16,750
It's never going to happen for you.
823
01:03:17,980 --> 01:03:24,460
What I teach and when I try to promote
is even though I was right about a
824
01:03:24,460 --> 01:03:28,300
lot of things, and even though I was
wrong about some things this week,
825
01:03:28,810 --> 01:03:33,370
it did not change the overall course
of what I set out for as a goal.
826
01:03:33,970 --> 01:03:38,470
I want to make two and a half
percent every single week.
827
01:03:38,470 --> 01:03:40,660
That's what I'm aiming for because
the second half of this month,
828
01:03:41,110 --> 01:03:43,720
remember I said, I was going to
show you how to make 10% a month.
829
01:03:44,200 --> 01:03:46,480
Well, obviously I'm almost
at 60% for the month.
830
01:03:46,600 --> 01:03:46,930
Okay.
831
01:03:46,930 --> 01:03:51,460
But if we take that big, uh, British
pound straight out, that still puts me
832
01:03:51,460 --> 01:03:55,425
in a really good position, percentage
wise, Relative to my effects book.
833
01:03:56,115 --> 01:04:04,265
So if we, if we take the whole
entire week, yes, there's going
834
01:04:04,265 --> 01:04:08,315
to be opportunities where, um, I
called right to the PIP 1, 10 40.
835
01:04:08,735 --> 01:04:10,325
I can't hang my hat on that.
836
01:04:10,595 --> 01:04:11,645
Cause I didn't trade that.
837
01:04:12,335 --> 01:04:18,815
But I logged that in my log, in my journal
as a sense of reassurement because next
838
01:04:18,815 --> 01:04:27,935
week could be the very week I have one or
2%, um, loss or even three losing trades.
839
01:04:27,935 --> 01:04:32,075
If I try to, uh, show, uh, mitigation
like I'm going to teach today, the
840
01:04:32,255 --> 01:04:38,195
point is the goal for the month is
the objective, not the day by date
841
01:04:38,585 --> 01:04:46,355
objective your day to day, uh, goals or
your day to day, uh, uh, expectations
842
01:04:46,355 --> 01:04:47,645
on what your equity should be.
843
01:04:48,275 --> 01:04:48,785
That's my.
844
01:04:50,150 --> 01:04:53,000
See what I, when I look at trading,
I look at the beginning calendar day.
845
01:04:53,010 --> 01:04:54,410
When's the last shooting
day of that month.
846
01:04:55,400 --> 01:04:57,800
And that's my, that's my
window of opportunity.
847
01:04:59,030 --> 01:05:03,590
I'm not forcing, I have to make
my two and a half percent on
848
01:05:03,590 --> 01:05:05,270
Tuesday of every single week.
849
01:05:05,300 --> 01:05:06,470
And I'm not thinking that way.
850
01:05:06,980 --> 01:05:08,960
I'm thinking, okay, what's
my goal for the month.
851
01:05:09,020 --> 01:05:15,680
If my goal is to make 10% for the
month, I have a lot of time to be
852
01:05:15,680 --> 01:05:17,570
more selective about trade setups.
853
01:05:17,570 --> 01:05:20,540
That will allow me to get that 10%
return over the course of a month,
854
01:05:21,500 --> 01:05:25,990
where I messed up in the beginning was
by trying to get an all in one trade
855
01:05:25,990 --> 01:05:29,480
because I was thinking if I can get
all one trade, then I don't have to be
856
01:05:29,480 --> 01:05:30,920
fearful about being in the marketplace.
857
01:05:30,920 --> 01:05:33,020
Cause I was very fearful
of being in the market.
858
01:05:33,770 --> 01:05:35,270
I was fearful of taking trades.
859
01:05:35,990 --> 01:05:39,980
I could see things on the charts that
would lead me to believe something
860
01:05:39,980 --> 01:05:42,920
should happen, but I would be too fearful
to actually execute and do the trade.
861
01:05:43,730 --> 01:05:46,850
And then once I got in a trade, I
would be terrified and it would, I
862
01:05:46,850 --> 01:05:47,900
wouldn't know what I was supposed to be.
863
01:05:48,884 --> 01:05:52,754
And many times I had no idea
where it should go target wise.
864
01:05:53,024 --> 01:05:55,095
And when it was moving in my
favorite, then it was even more
865
01:05:55,095 --> 01:05:58,004
scary because I don't know if
I should hold on to it or not.
866
01:05:58,725 --> 01:06:01,935
And then because of panic attacks, I
would just collapse the trade and then it
867
01:06:01,935 --> 01:06:04,395
would keep on going thousands of dollars.
868
01:06:04,395 --> 01:06:06,975
And if I just sort of stayed in it and
turned the computer off, I would've made
869
01:06:07,004 --> 01:06:11,084
lots more money, but I would beat myself
up about the fact that I just made money.
870
01:06:11,984 --> 01:06:15,584
It was an error, but I made my, I
made money, but I beat myself up
871
01:06:15,584 --> 01:06:17,234
about it because I had no direction.
872
01:06:17,234 --> 01:06:17,745
I had no plan.
873
01:06:17,745 --> 01:06:18,975
I had no organization.
874
01:06:20,084 --> 01:06:29,055
I learned by time and exposure that
setups really repeat themselves a lot.
875
01:06:29,055 --> 01:06:31,035
They're very recurring phenomenon.
876
01:06:31,845 --> 01:06:38,145
And there's nothing for you
to fear about missing moves.
877
01:06:38,745 --> 01:06:42,044
And for you as a new trader or
someone that's been trading for
878
01:06:42,044 --> 01:06:44,115
a while, can I do like a poll.
879
01:06:45,540 --> 01:06:50,040
I like to get these types of feedbacks if
you've been trading longer than two years.
880
01:06:50,879 --> 01:06:51,240
Okay.
881
01:06:51,240 --> 01:06:54,060
If you've been trading longer
than two years in any asset
882
01:06:54,060 --> 01:06:55,140
classes have to be Forex.
883
01:06:56,129 --> 01:07:04,919
If you get angry or frustrated or
depressed about missing a trade, say I do.
884
01:07:05,700 --> 01:07:08,160
If you don't, then obviously don't
say nothing, but only for those that
885
01:07:08,220 --> 01:07:09,419
have traded longer than two years.
886
01:07:13,339 --> 01:07:13,640
Wow.
887
01:07:13,640 --> 01:07:14,240
That's a good number.
888
01:07:14,250 --> 01:07:14,430
Yeah.
889
01:07:18,720 --> 01:07:18,990
Wow.
890
01:07:19,049 --> 01:07:20,819
Yeah, that was a it's still going.
891
01:07:24,180 --> 01:07:24,450
Okay.
892
01:07:24,450 --> 01:07:29,399
So when I'm talking about this, , it's
an intimate experience for you.
893
01:07:29,669 --> 01:07:29,879
Okay.
894
01:07:29,879 --> 01:07:31,140
You know exactly what I'm talking about.
895
01:07:31,140 --> 01:07:38,430
When, when I say it, the way I
overcame that feeling is number
896
01:07:38,430 --> 01:07:41,640
one, losing tons of money.
897
01:07:42,839 --> 01:07:46,830
And I can tell you if there's a choice
of missing a move and feeling depressed
898
01:07:46,830 --> 01:07:53,279
about that or losing fortunes of real
money, I will always side with missing
899
01:07:53,279 --> 01:07:57,930
the opportunity because I still have my
equity and it wasn't until a day where I
900
01:07:57,930 --> 01:08:01,529
was actually literally sitting in my car
in gunpowder state park, because that's
901
01:08:01,529 --> 01:08:04,500
where I would go a couple of times a
week and I'd sit out there and I would
902
01:08:04,500 --> 01:08:07,470
reflect, look at the water and think
about what I was going to do, what my
903
01:08:07,470 --> 01:08:10,920
goals were and what I did the previous
week and how I'm going to double that.
904
01:08:11,160 --> 01:08:11,609
Okay.
905
01:08:12,029 --> 01:08:19,859
And with unrealistic expectations, but one
day I just sat there and I felt incredibly
906
01:08:20,220 --> 01:08:22,529
foolish about what I was thinking about.
907
01:08:23,250 --> 01:08:28,349
I was thinking about how I didn't
make money on a setup and it
908
01:08:28,349 --> 01:08:29,640
happened to be in a copper trade.
909
01:08:30,269 --> 01:08:30,599
Okay.
910
01:08:30,630 --> 01:08:33,569
Um, copper is a commodity
that you can trade.
911
01:08:33,599 --> 01:08:38,520
Um, Uh, futures market and
copper, wasn't a premium market.
912
01:08:38,520 --> 01:08:42,569
And it means that the nearby
contracts were selling for more
913
01:08:42,569 --> 01:08:43,920
money than a distant months out.
914
01:08:44,370 --> 01:08:47,520
And it was already in a preexisting
uptrend, uh, commercials were already
915
01:08:47,520 --> 01:08:51,960
net long, and it was a seasonal tendency
for copper to go up and everything was
916
01:08:51,960 --> 01:08:53,340
this lined up for this thing to go up.
917
01:08:54,750 --> 01:08:56,880
And I knew there was a specific level.
918
01:08:56,880 --> 01:09:00,689
I shouldn't be buying it, but I
fearfully sat on the sidelines
919
01:09:00,689 --> 01:09:05,370
because I wanted a little bit better
pricing and it didn't give it to me.
920
01:09:05,760 --> 01:09:10,950
It spent two days at that level that
I should have been buying well on
921
01:09:10,950 --> 01:09:15,479
the third day it was lifted up and it
stayed limit up for about three days.
922
01:09:15,870 --> 01:09:17,910
And it didn't give me an
opportunity to get in there.
923
01:09:18,960 --> 01:09:23,970
And I was very frustrated because
there's no better feeling to be
924
01:09:23,970 --> 01:09:25,830
stuck making limit up, move profit.
925
01:09:25,950 --> 01:09:26,970
You can't get out of the market.
926
01:09:27,330 --> 01:09:28,080
It won't let you out.
927
01:09:28,590 --> 01:09:32,040
The open is the same thing as
the close is just an uptick on
928
01:09:32,040 --> 01:09:33,359
your chart and nothing's changed.
929
01:09:34,184 --> 01:09:38,535
So when you have those experiences
and you look back and you say,
930
01:09:38,535 --> 01:09:39,885
man, I wish I would have done this.
931
01:09:39,915 --> 01:09:41,745
I missed this opportunity,
yada, yada, yada.
932
01:09:42,285 --> 01:09:47,224
I was looking at the fact that, okay,
well, I could have been short and stuck
933
01:09:47,255 --> 01:09:50,585
in limit up, moves over leveraged.
934
01:09:50,585 --> 01:09:51,724
Like I always was then.
935
01:09:52,234 --> 01:09:57,695
And it dawned on me that number one, I'm
beating myself up about something that
936
01:09:57,695 --> 01:10:01,355
I did not physically take a loss in.
937
01:10:02,405 --> 01:10:07,144
And this is not the last opportunity
that's going to come across my charts.
938
01:10:08,255 --> 01:10:11,105
And I looked at how many trades
I've taken from that point on.
939
01:10:11,554 --> 01:10:14,825
And it was lots because I was
trading every single day, every
940
01:10:14,825 --> 01:10:18,095
single trading day, I was trading
something way overtrading.
941
01:10:19,855 --> 01:10:23,035
But when I looked to how many times
I was making money and I can admit
942
01:10:23,035 --> 01:10:26,425
to you when I first started making
money in the nineties, I really
943
01:10:26,425 --> 01:10:27,775
had no idea what I was doing.
944
01:10:27,865 --> 01:10:31,675
I was lucky buying only in bull
markets and it just markets were going
945
01:10:31,675 --> 01:10:33,295
straight up so anybody can make money.
946
01:10:35,130 --> 01:10:38,370
But when I looked at how many times
I was trading and how many times I
947
01:10:38,370 --> 01:10:41,219
was able to take money out of the
marketplace, even being stupid.
948
01:10:41,280 --> 01:10:43,230
And I'm not having no
idea what I was doing.
949
01:10:44,309 --> 01:10:50,009
It dawned on me that why should I
ever feel like I missed that trade?
950
01:10:50,009 --> 01:10:51,750
So therefore I should be mad or depressed.
951
01:10:52,860 --> 01:10:57,120
And it dawned on me and how I
did not have a mature perspective
952
01:10:57,150 --> 01:10:58,679
about how the markets operated.
953
01:10:59,250 --> 01:11:02,219
I was thinking like a neophyte,
like, like a, like a person that
954
01:11:02,219 --> 01:11:03,719
just first time gets into casino.
955
01:11:04,290 --> 01:11:06,840
You know, if they went on their
first-hand, they things learn on a hot
956
01:11:06,870 --> 01:11:09,000
streak and therefore you got to push it.
957
01:11:09,420 --> 01:11:11,759
When, in fact, when you're trading,
when you're on your own, when
958
01:11:11,759 --> 01:11:14,759
you're on a hot streak, you need
to start scaling back your risk.
959
01:11:15,269 --> 01:11:17,820
And that's not going to agree
with 90% of what people say.
960
01:11:18,150 --> 01:11:20,639
If you're on a roll and
you're making money, okay.
961
01:11:20,639 --> 01:11:24,660
They tell you, push it, push what
don't increase your leverage.
962
01:11:24,900 --> 01:11:26,400
Don't increase your trade frequency.
963
01:11:27,000 --> 01:11:30,360
The market has no perception
of what your hot streets.
964
01:11:31,514 --> 01:11:33,585
It's just, you're in
alignment for right now.
965
01:11:33,885 --> 01:11:35,115
And that doesn't stay like that.
966
01:11:35,595 --> 01:11:39,195
Eventually, if you keep pushing it,
you're going to have your hardest loss,
967
01:11:39,405 --> 01:11:44,205
your biggest loss when you've pushed it,
because you think you're on a hot hand for
968
01:11:44,205 --> 01:11:46,394
a hot street, you got to push your edge.
969
01:11:46,425 --> 01:11:49,845
Now you don't, when you're on a hot
run and you got a long series of
970
01:11:49,845 --> 01:11:55,005
wins, I, I actually started learning
to dial back my leverage and my trade
971
01:11:55,005 --> 01:11:58,575
frequency, because I know what's
coming that losing trades coming.
972
01:11:59,385 --> 01:12:03,455
The more times you have winning trades in
a row, the higher, the probability that
973
01:12:03,455 --> 01:12:05,085
that next losing trade is going to happen.
974
01:12:05,565 --> 01:12:09,885
And I started focusing on that and not
focusing on the fact that I've missed
975
01:12:09,885 --> 01:12:14,985
an opportunity, or I missed a trade
because I knew by looking at my journal,
976
01:12:16,125 --> 01:12:17,684
how many times I was taking trades.
977
01:12:19,095 --> 01:12:22,875
I don't know why we as traders forget
this, but how many times, just in the
978
01:12:22,875 --> 01:12:27,165
course of this mentorship, have we talked
about specific levels in the market?
979
01:12:28,245 --> 01:12:31,065
There's all kinds of opportunities
just because it doesn't line
980
01:12:31,065 --> 01:12:32,505
up for my specific trade.
981
01:12:32,835 --> 01:12:35,415
There's all kinds of, and many of
you're actually sending them to me
982
01:12:35,415 --> 01:12:37,035
in email what you're actually doing.
983
01:12:37,035 --> 01:12:37,605
And that's great.
984
01:12:37,995 --> 01:12:39,915
I'm not asking you to do
that, but you're doing it.
985
01:12:40,304 --> 01:12:42,375
So there's always new opportunities.
986
01:12:42,375 --> 01:12:46,125
There's always new setups, just
because you get excited about
987
01:12:46,125 --> 01:12:49,094
that setup and you don't get a
chance to take advantage of it.
988
01:12:49,394 --> 01:12:52,214
And you start thinking that you're
mad or you're depressed or you're
989
01:12:52,214 --> 01:12:56,655
angry or you're regretful because
you didn't do it stop for a moment.
990
01:12:57,674 --> 01:12:57,884
Okay.
991
01:12:57,884 --> 01:12:59,865
And if you're not really paying
attention, if you're doing something
992
01:12:59,865 --> 01:13:02,025
else right now, but you can
hear my voice stop for a second.
993
01:13:02,025 --> 01:13:02,804
Just hear me out for this.
994
01:13:02,804 --> 01:13:04,214
They only gonna talk
about two minutes for it.
995
01:13:05,835 --> 01:13:10,365
If you feel that way, you need to
admit to yourself right now that you
996
01:13:10,365 --> 01:13:16,934
are not organized and you're not being
realistic about your expectations
997
01:13:16,934 --> 01:13:18,224
about your trading and the market.
998
01:13:19,380 --> 01:13:23,490
And you have to remind yourself that
there are new opportunities, every single
999
01:13:23,490 --> 01:13:28,290
trading day in that trade that you missed,
or that set up that didn't pan out.
1000
01:13:28,290 --> 01:13:31,050
Exactly like you wanted to, but still
went to where you wanted it to go.
1001
01:13:31,860 --> 01:13:34,080
That's not the last trade
that's going to appear.
1002
01:13:34,170 --> 01:13:36,450
That's not that wasn't the last
trade of your trading career.
1003
01:13:38,130 --> 01:13:42,090
You're not trying to close out
of Floyd Mayweather career, you
1004
01:13:42,090 --> 01:13:45,540
know where you're undefeated and
everything's perfect for you.
1005
01:13:46,470 --> 01:13:51,059
But we as traders because we're
human and we don't want to be wrong.
1006
01:13:51,660 --> 01:13:53,010
We want to be right every time.
1007
01:13:53,670 --> 01:13:55,740
And we want to be in every move.
1008
01:13:55,920 --> 01:13:59,160
That's going to go in our
favor that we've foreseen.
1009
01:14:00,660 --> 01:14:01,950
We will beat ourselves up.
1010
01:14:03,000 --> 01:14:07,170
Even if you watch these folks
on forums and Twitter, that seem
1011
01:14:07,170 --> 01:14:08,160
like they got it all together.
1012
01:14:08,790 --> 01:14:11,849
Believe me, they're having that
same internal struggle as well.
1013
01:14:11,849 --> 01:14:14,550
When they miss an opportunity,
they're just not telling it to you.
1014
01:14:15,210 --> 01:14:17,700
I'm telling you for, someone's
been doing it for 23 plus years.
1015
01:14:18,780 --> 01:14:23,580
You're going to miss moves and either
you're going to waste time and energy and
1016
01:14:23,580 --> 01:14:28,530
emotional commitment to something that
you can't go back in time and retrade.
1017
01:14:28,889 --> 01:14:31,170
You can't go back in time and, and
go back into the marketplace where
1018
01:14:31,170 --> 01:14:32,040
you thought you should have been.
1019
01:14:32,820 --> 01:14:34,349
But what can you do with that information?
1020
01:14:34,379 --> 01:14:37,410
Number one, you can log it as
this is a positive experience.
1021
01:14:37,710 --> 01:14:39,150
I expected this move to come.
1022
01:14:40,110 --> 01:14:44,040
And that's that experience level and
your acknowledgement of that, what it
1023
01:14:44,040 --> 01:14:50,070
was, think about what you've done, you've
turned something experientially to a
1024
01:14:50,099 --> 01:14:55,019
positive, and you focused on the fact that
you were able to see that move coming.
1025
01:14:56,009 --> 01:14:58,349
You're going to miss more
trades than you actually take.
1026
01:14:59,040 --> 01:15:03,900
So if you're finding yourself, seeing
these things form on the charts, more
1027
01:15:03,900 --> 01:15:08,549
routinely, that reoccur over and over
and over again, over the course of
1028
01:15:08,549 --> 01:15:09,870
a month, if you can find foresight.
1029
01:15:11,610 --> 01:15:14,670
That means from the beginning calendar
day, first trading day of the month to the
1030
01:15:14,670 --> 01:15:19,200
ending calendar day or last day and day
of the month, if you can find four setups,
1031
01:15:19,380 --> 01:15:23,969
whether you've taken them or not, if you
can see four setups panning out or setting
1032
01:15:23,969 --> 01:15:27,690
up or where level should be responsive,
and that happens for you at least
1033
01:15:27,690 --> 01:15:30,090
four times a month, you are on track.
1034
01:15:31,019 --> 01:15:34,559
You have absolutely nothing to
be upset about because if you ask
1035
01:15:34,559 --> 01:15:38,309
the general populace in trading,
they can't find one set up.
1036
01:15:38,880 --> 01:15:40,769
They can't see anything
that makes sense to them.
1037
01:15:40,769 --> 01:15:42,120
They can't anticipate anything.
1038
01:15:42,480 --> 01:15:46,139
And some of you are learning at
a great pace, but it doesn't feel
1039
01:15:46,139 --> 01:15:49,679
like it because you want to be
trading for a living right now.
1040
01:15:50,700 --> 01:15:54,660
And the folks that have really
done some reflecting and
1041
01:15:54,660 --> 01:15:55,830
they have given me feedback.
1042
01:15:55,830 --> 01:15:59,190
And again, I'm not asking you to give
me a wave of emails, but I'm just
1043
01:15:59,190 --> 01:16:02,969
telling you, there's a lot of folks
that are in our mentorship that are
1044
01:16:03,660 --> 01:16:04,769
talking about these very things.
1045
01:16:04,769 --> 01:16:05,639
They're saying, you know what?
1046
01:16:05,639 --> 01:16:06,120
I'm looking for.
1047
01:16:06,120 --> 01:16:06,660
One set of people.
1048
01:16:07,455 --> 01:16:11,445
And while I see other things panning out,
I'm not really upset about that anymore.
1049
01:16:11,595 --> 01:16:15,185
I'm not thinking about you,
my ability to find trades.
1050
01:16:15,195 --> 01:16:19,005
Cause I can see what I want to focus on.
1051
01:16:19,275 --> 01:16:22,545
What level should be responsive,
what market I should be following.
1052
01:16:23,115 --> 01:16:27,405
And the encouragement they'd have
seen in their own trading because
1053
01:16:27,405 --> 01:16:30,255
of the fact that they have number
one, lowered their expectations.
1054
01:16:31,365 --> 01:16:34,815
Now would that my effects
book, I'm giving you a, uh,
1055
01:16:34,845 --> 01:16:38,205
illustration with that's a risk.
1056
01:16:38,265 --> 01:16:42,135
That's a return that most
people can't get on a year.
1057
01:16:43,395 --> 01:16:47,835
You know, I'm like half a percent away
from 60% return just for this month.
1058
01:16:48,345 --> 01:16:49,455
And I haven't taken a lot of time.
1059
01:16:51,650 --> 01:16:54,200
It looks like 12 trades, but
they're, they're partials.
1060
01:16:54,200 --> 01:16:55,100
That's why it shows like that.
1061
01:16:55,100 --> 01:16:59,060
It's their partial setups where I'm taking
part of the trade off or I'm doing doubles
1062
01:16:59,300 --> 01:17:00,890
and taking off one as the trades on.
1063
01:17:01,160 --> 01:17:03,500
And then it looks like I'm doing
a lot of trades, but really
1064
01:17:03,500 --> 01:17:04,340
I'm not really doing that.
1065
01:17:04,340 --> 01:17:07,430
It's like half of it, 12,
I'm doing like six trades.
1066
01:17:08,870 --> 01:17:16,250
So if my setups okay, are designed to give
me three or more, ideally five to one.
1067
01:17:16,490 --> 01:17:16,850
Okay.
1068
01:17:16,880 --> 01:17:21,800
If I can do gearing like that, I need, I
need not worry about missing opportunities
1069
01:17:21,800 --> 01:17:23,420
because I know the ones I want to be in.
1070
01:17:24,920 --> 01:17:28,280
I want to be in the ones that have
the highest probability paying out.
1071
01:17:28,790 --> 01:17:31,680
And I know there's going to
be trades that move around and
1072
01:17:32,540 --> 01:17:35,150
offer potential pips or profit.
1073
01:17:35,720 --> 01:17:38,360
But if it doesn't line up with
my risk, it doesn't line up
1074
01:17:38,390 --> 01:17:43,610
with the, uh, the expectations
I have for the general market.
1075
01:17:44,330 --> 01:17:48,470
Then I'll, electo just monitor it,
but I'm not going to put money behind.
1076
01:17:49,965 --> 01:17:53,115
If you can do those types of things
over the course of a month and see
1077
01:17:53,115 --> 01:17:56,535
four setups, your acts, that you're
actually right where you need to be yet.
1078
01:17:57,285 --> 01:18:01,155
Now say you can see one or two
per month, you're on your way.
1079
01:18:01,305 --> 01:18:04,455
You're, you're, you're actually getting to
where you need to be at, but don't rush.
1080
01:18:04,455 --> 01:18:05,745
It don't force.
1081
01:18:05,745 --> 01:18:08,475
It don't be upset if you miss the
trade, because here's the thing.
1082
01:18:09,855 --> 01:18:13,815
You saw something that 98%
of other traders that trade
1083
01:18:13,815 --> 01:18:15,705
four X never saw coming.
1084
01:18:17,115 --> 01:18:23,144
And if you keep re reinforcing that,
if you see that over and over and over
1085
01:18:23,295 --> 01:18:27,255
in, in your, in your trading, where you
can see a measurable increase of your
1086
01:18:27,255 --> 01:18:33,975
understanding, then guess what you have
done everything you're supposed to do so
1087
01:18:33,975 --> 01:18:40,215
far in this mentorship, the effects of the
teachings and the exposure are actually
1088
01:18:40,215 --> 01:18:42,195
taking root in your understanding.
1089
01:18:43,005 --> 01:18:46,665
So when you sit in front of the
charts and you anticipate a specific.
1090
01:18:47,550 --> 01:18:49,500
Number one, you're going
to have experience behind
1091
01:18:49,500 --> 01:18:50,190
you saying, you know what?
1092
01:18:50,880 --> 01:18:56,250
I know that this has a high probability
of unfolding now, just because it
1093
01:18:56,250 --> 01:18:59,340
has a high probability of unfolding
or going to a specific level, does
1094
01:18:59,340 --> 01:19:02,040
that equate to a safe low-risk trade?
1095
01:19:02,340 --> 01:19:03,150
Not always.
1096
01:19:04,020 --> 01:19:07,410
That was the hardest lesson for me
to learn just because I know that
1097
01:19:07,410 --> 01:19:09,420
there's a level with high probability.
1098
01:19:09,420 --> 01:19:10,260
It may trade too.
1099
01:19:10,770 --> 01:19:15,630
It may not give me a low defined
risk scenario where I can get
1100
01:19:15,630 --> 01:19:18,930
in there and trade with low risk
and you expect to make that move.
1101
01:19:19,260 --> 01:19:22,140
And that's what happened with me
in regards to the dollar this week
1102
01:19:24,320 --> 01:19:28,880
with the dollar, this area in here
caused an issue for me, even though
1103
01:19:28,880 --> 01:19:31,460
I called 98 55 its own record.
1104
01:19:32,060 --> 01:19:36,650
I was unable to really capitalize
on that because it didn't
1105
01:19:36,650 --> 01:19:38,540
fit my specific criteria.
1106
01:19:40,545 --> 01:19:44,835
It's those that are relying OPIC in
their perspective, or very unrealistic
1107
01:19:44,835 --> 01:19:48,105
in terms of what they're expecting to
learn either by me or for anyone that
1108
01:19:48,585 --> 01:19:50,355
teaches not just for X, but anything.
1109
01:19:51,165 --> 01:19:54,705
Uh, they're going to have a real hard
time with this, about me saying this.
1110
01:19:54,825 --> 01:19:56,925
They're going to, they're going to
say, well, you should know better.
1111
01:19:57,645 --> 01:19:59,355
You should be able to do better than this.
1112
01:20:00,015 --> 01:20:04,485
And I'm telling you there
that's, that's going to happen.
1113
01:20:04,665 --> 01:20:05,685
It's going to happen to you.
1114
01:20:05,685 --> 01:20:06,765
I don't care how long you trade.
1115
01:20:06,795 --> 01:20:08,685
I mean, nobody does it perfectly.
1116
01:20:09,225 --> 01:20:13,935
And that's my point by showing
you to my effects book, it gives
1117
01:20:13,935 --> 01:20:18,885
you a real measurement stick that
you don't have to trade a lot.
1118
01:20:19,875 --> 01:20:23,175
You don't have to do exceptionally
well to do very good.
1119
01:20:23,535 --> 01:20:23,925
Okay.
1120
01:20:23,955 --> 01:20:26,535
And if you're focusing on
doubling your money in the
1121
01:20:26,535 --> 01:20:29,085
beginning, that's easily obtained.
1122
01:20:30,285 --> 01:20:35,955
Then if you start graduating into an 8%
or 10% per month return, that's realistic.
1123
01:20:37,365 --> 01:20:38,474
But it's going to take
a little bit of time.
1124
01:20:38,505 --> 01:20:43,605
And then once you're able to do that,
as you grow into those measurable
1125
01:20:44,085 --> 01:20:49,215
mile markers, you'll start seeing
trades that you didn't see before.
1126
01:20:50,745 --> 01:20:54,765
And they'll, the scenarios will be
there that maybe I haven't talked
1127
01:20:54,765 --> 01:20:57,615
about yet, but you're starting to
see certain things in price action
1128
01:20:57,615 --> 01:20:59,144
that you never noticed before.
1129
01:20:59,894 --> 01:21:00,855
That's normal.
1130
01:21:01,275 --> 01:21:03,585
Don't think that you're being
distracted to do something
1131
01:21:03,585 --> 01:21:04,965
outside of what I'm teaching.
1132
01:21:05,295 --> 01:21:08,775
You're just actually getting the feedback
of exposing yourself to price action.
1133
01:21:10,635 --> 01:21:13,815
In a later month of this mentorship,
there's going to be a lot of dots
1134
01:21:13,815 --> 01:21:18,434
connected immediately, like in one or
two sessions, something will happen and
1135
01:21:18,434 --> 01:21:25,635
then you'll have a, it's like the veil
is lifted and you'll feel all these
1136
01:21:25,635 --> 01:21:26,565
things that you're feeling right now.
1137
01:21:26,565 --> 01:21:28,875
Like when you miss a move and
all that stuff, they won't be
1138
01:21:28,875 --> 01:21:30,345
viewed in the same light anymore.
1139
01:21:31,394 --> 01:21:33,285
You'll say, okay, well that
just proves I have a plan.
1140
01:21:34,340 --> 01:21:38,880
Uh, a plethora of opportunities
I can choose from.
1141
01:21:39,630 --> 01:21:41,640
And you won't look at it as I'm stupid.
1142
01:21:41,640 --> 01:21:45,210
I missed this trade or I, you know,
I've got to go home and beat my dog up
1143
01:21:45,240 --> 01:21:49,710
because, you know, I missed the Canadian
dollar trade or the Euro went down.
1144
01:21:49,710 --> 01:21:50,670
I knew it was going to go down there.
1145
01:21:50,670 --> 01:21:51,420
I didn't take a trade.
1146
01:21:51,420 --> 01:21:53,370
I knew I should've shorted it
there, but I just didn't do it.
1147
01:21:53,520 --> 01:21:57,180
You won't think that way you won't have
any of those thought processes behind it?
1148
01:21:57,780 --> 01:22:09,700
So the, the element of focusing in, in
logging and journaling is the only way
1149
01:22:09,730 --> 01:22:11,800
that you can keep your thought process.
1150
01:22:12,070 --> 01:22:14,980
And this is my experience, and this is how
I'm answering the questions I'm getting
1151
01:22:14,980 --> 01:22:18,820
in, in the, in the live mentorship,
uh, presentation we're doing right now.
1152
01:22:19,300 --> 01:22:25,000
Everyone's asking how did I overcome it
personally, by physically writing in a
1153
01:22:25,000 --> 01:22:27,340
journal, telling myself what I did, right.
1154
01:22:28,480 --> 01:22:29,770
Acknowledging what I did wrong.
1155
01:22:30,900 --> 01:22:35,190
And then I talked about what things
I would do the next time that
1156
01:22:35,190 --> 01:22:39,120
happens, or when an opportunity
comes up, what will I do next time?
1157
01:22:39,450 --> 01:22:43,920
Because I need to get rid of number
one, the depression about missing
1158
01:22:43,920 --> 01:22:48,600
a move and initially the anxiety
and fear about taking the trade.
1159
01:22:48,930 --> 01:22:53,520
And how did I overcome that by forcing
myself to take the trade, just getting
1160
01:22:53,520 --> 01:22:56,610
in there every single day, I needed to
know what I should be doing right now.
1161
01:22:57,030 --> 01:22:59,160
I need to either buy the
opening or sell the opening.
1162
01:22:59,220 --> 01:23:01,140
And I did this for three months.
1163
01:23:02,070 --> 01:23:03,330
I literally looked at the markets.
1164
01:23:03,340 --> 01:23:03,720
Okay.
1165
01:23:03,960 --> 01:23:06,240
Based on what I'm seeing,
I have to take a trade.
1166
01:23:06,600 --> 01:23:09,600
I'm buying the S and P on the open,
or I'm selling the S and P on the
1167
01:23:09,600 --> 01:23:12,780
open relative to, you know, I was
buying on Mondays and Tuesdays and
1168
01:23:12,780 --> 01:23:13,740
selling on Thursdays and Fridays.
1169
01:23:13,740 --> 01:23:14,430
That's how I was doing it.
1170
01:23:14,970 --> 01:23:19,170
But because I did this every single
trading day, I didn't care what
1171
01:23:19,170 --> 01:23:21,300
the outcome was because I just.
1172
01:23:22,885 --> 01:23:24,805
And I completely desensitized myself.
1173
01:23:25,525 --> 01:23:28,105
The only way you're going to
desensitize yourself about missing
1174
01:23:28,105 --> 01:23:32,335
trades is logging them and focusing
on the fact that you were able to
1175
01:23:32,335 --> 01:23:34,285
see the potential of it being there.
1176
01:23:35,155 --> 01:23:38,605
And your brain is going to allow
that as positive feedback, because
1177
01:23:38,605 --> 01:23:41,875
number one, you wrote out in your own
handwriting and you'll refer back to it.
1178
01:23:42,475 --> 01:23:45,865
At the end of the week, you should go back
through all your daily journal entries
1179
01:23:45,865 --> 01:23:49,225
and say, okay, I thought this was going to
happen, but this is really what happened.
1180
01:23:49,435 --> 01:23:52,195
And most of my takeaway from that to
every single day, you should be doing
1181
01:23:52,195 --> 01:23:55,525
a journal entry and then do a recap
on a weekly basis on the weekend.
1182
01:23:59,905 --> 01:24:04,705
Um, yes, I believe John asked, do
I think that, um, you can achieve
1183
01:24:04,705 --> 01:24:07,525
this level of awareness with a
demo account and yes, you can't.
1184
01:24:08,215 --> 01:24:09,325
That's where it needs to be.
1185
01:24:09,625 --> 01:24:12,265
Uh, you need obtain it in that
because as soon as you add
1186
01:24:12,265 --> 01:24:14,400
money, It messes it all up.
1187
01:24:14,730 --> 01:24:17,970
Believe me, I'm telling you
teaching as many people as I've
1188
01:24:17,970 --> 01:24:19,920
taught and my own experience.
1189
01:24:20,010 --> 01:24:21,780
I'm speaking from I'm preaching to you.
1190
01:24:22,350 --> 01:24:26,310
You can't learn it with money
exposed you can't because you're
1191
01:24:26,310 --> 01:24:27,330
going to only worry about the money.
1192
01:24:28,320 --> 01:24:31,980
You won't worry about the internal
dialogue that you're going
1193
01:24:31,980 --> 01:24:33,330
to have with the marketplace.
1194
01:24:34,050 --> 01:24:36,270
Believe me, you know
what I'm talking about?
1195
01:24:36,270 --> 01:24:38,790
If you're just honest right now and
say, Hey, when you put a trade on
1196
01:24:39,480 --> 01:24:41,670
that chart is talking to you, okay?
1197
01:24:41,670 --> 01:24:42,840
Believe me, it's talking to you.
1198
01:24:42,990 --> 01:24:48,180
It's telling you get out right now
or hold for more or move your stop.
1199
01:24:49,770 --> 01:24:52,500
How you interpret what that
price is actually saying to
1200
01:24:52,500 --> 01:24:54,600
you is very, very important.
1201
01:24:54,960 --> 01:24:55,590
In the beginning.
1202
01:24:57,510 --> 01:25:00,360
In the beginning, you're gonna, you're
gonna, you're going to think you
1203
01:25:00,690 --> 01:25:02,010
should be doing all kinds of things.
1204
01:25:02,310 --> 01:25:04,320
Moving stops, moving limit orders.
1205
01:25:04,360 --> 01:25:05,820
You have a target, but then
all of a sudden the market
1206
01:25:05,820 --> 01:25:06,630
starts moving really quick.
1207
01:25:06,780 --> 01:25:08,550
Well, let me make the limit
a little bit farther away.
1208
01:25:08,550 --> 01:25:09,570
It might give me a little bit more.
1209
01:25:09,720 --> 01:25:10,470
Why don't you do that?
1210
01:25:13,075 --> 01:25:18,804
Why you want to move your stop
fear by identifying these markers.
1211
01:25:19,014 --> 01:25:19,465
Okay.
1212
01:25:19,675 --> 01:25:23,815
It'll show you what side of the
marketplace is an impediment when you
1213
01:25:23,815 --> 01:25:30,264
right now, and that is only brought to
light by journaling and with an, uh, a
1214
01:25:30,264 --> 01:25:32,365
tool like my effects book or edge Wong.
1215
01:25:32,875 --> 01:25:33,115
Okay.
1216
01:25:33,115 --> 01:25:36,085
Something that gives you
a real hard feedback.
1217
01:25:37,285 --> 01:25:40,405
That way you can't argue with it,
you know, it's, it's in the numbers.
1218
01:25:40,405 --> 01:25:40,945
You can see it.
1219
01:25:42,505 --> 01:25:45,445
And if, uh, I'm not going to say your
name, but the, you know, one of our
1220
01:25:45,445 --> 01:25:50,184
members saying they, they get anxious
about the demo trade and think about
1221
01:25:50,184 --> 01:25:55,045
what that's actually saying, what
that deep rooted fear or concern is.
1222
01:25:56,365 --> 01:25:57,745
You can't lose money on a demo.
1223
01:25:58,465 --> 01:25:59,665
You can't make money on a demo.
1224
01:25:59,665 --> 01:26:02,005
That's the reason why this
mentorship is built around that.
1225
01:26:02,304 --> 01:26:04,855
Number one, it preserves my protection.
1226
01:26:05,065 --> 01:26:05,485
Okay.
1227
01:26:05,514 --> 01:26:09,355
In the states because CFTC is really
high strung about these types of things.
1228
01:26:09,894 --> 01:26:11,365
And because we're in a scope of a demo.
1229
01:26:12,165 --> 01:26:13,245
You are protected.
1230
01:26:13,245 --> 01:26:14,205
You can't lose money.
1231
01:26:14,565 --> 01:26:15,435
You can't make money.
1232
01:26:15,435 --> 01:26:16,905
You're here to learn price action.
1233
01:26:16,935 --> 01:26:17,355
That's it.
1234
01:26:18,465 --> 01:26:23,565
If you're fearful about what your outcome
is going to be in a demo account, that
1235
01:26:23,655 --> 01:26:28,905
root cause of that is you are afraid that
you're not going to be able to do this.
1236
01:26:30,195 --> 01:26:32,505
And I'm telling you
that's a normal concern.
1237
01:26:32,715 --> 01:26:35,475
Everyone should fear that when
they first get in here, that's why
1238
01:26:35,475 --> 01:26:36,705
they need to learn how to trade.
1239
01:26:37,935 --> 01:26:42,645
But if you are fearful or you get anxious
about the market and you're in only
1240
01:26:42,645 --> 01:26:51,135
a demo, that's only a manifestation
of your fear of your ability to
1241
01:26:51,135 --> 01:26:52,485
learn how to do this effectively.
1242
01:26:53,115 --> 01:26:57,585
And that is easily overcome by just doing
the things that we do in the mentorship is
1243
01:26:57,645 --> 01:27:02,355
teaching yourself to be exposed to price
and seeing how many times these things pan
1244
01:27:02,355 --> 01:27:03,795
out over the course of every single week.
1245
01:27:03,975 --> 01:27:05,205
There's something out here every week.
1246
01:27:07,185 --> 01:27:08,685
But if you add more.
1247
01:27:10,095 --> 01:27:14,775
If you get in the marketplace and you
think because somebody on Twitter or
1248
01:27:14,775 --> 01:27:19,275
somebody on Periscope or somebody on
Facebook or YouTube says, you got to have
1249
01:27:19,275 --> 01:27:22,245
a little bit of skin in the race, you
gotta have a little bit of money on the
1250
01:27:22,245 --> 01:27:23,595
line, or it won't mean anything to you.
1251
01:27:24,135 --> 01:27:27,645
Well, that's a gambler's mentality
and there's no other way of
1252
01:27:27,645 --> 01:27:31,245
saying it, but just like that,
that's a gambler's mentality.
1253
01:27:31,665 --> 01:27:36,045
And I'm telling you gamblers don't last
long in this business, the ones that make
1254
01:27:36,045 --> 01:27:40,335
money and gambled, they are the ones that
made money quick and were smart enough
1255
01:27:40,335 --> 01:27:44,535
to never go back in again and think
about how many times that would happen.
1256
01:27:45,135 --> 01:27:47,085
Everyone's got a hot hand
get in there and push it.
1257
01:27:47,175 --> 01:27:48,225
And that's what we always hear.
1258
01:27:48,645 --> 01:27:49,995
This got me a lot of
money in the beginning.
1259
01:27:50,055 --> 01:27:50,685
It happened with me.
1260
01:27:50,775 --> 01:27:51,675
I got lucky in the beginning.
1261
01:27:52,305 --> 01:27:55,185
If I would have never learned how to
trade, I would've been a flash in the pan.
1262
01:27:55,245 --> 01:27:57,225
Boom, boom, a statistic,
just like everyone else.
1263
01:27:57,645 --> 01:27:59,535
I got lucky, but then
I couldn't make money.
1264
01:28:01,125 --> 01:28:04,125
Real money is a barrier to you learning.
1265
01:28:04,275 --> 01:28:07,485
You're not going to learn how to do
this by doing anything like that.
1266
01:28:19,460 --> 01:28:22,790
But I'm going to close this session here,
cause getting long-winded, um, I'll follow
1267
01:28:22,790 --> 01:28:27,770
along through the market today with, uh,
charts and I'll give you a recap as well.
1268
01:28:27,890 --> 01:28:34,190
Um, I'll be doing the mitigation video
tonight, um, and I'll be working on the
1269
01:28:34,190 --> 01:28:35,900
release for Saturday's video as well.
1270
01:28:44,230 --> 01:28:48,280
Um, and well, Andreas, if you're feeling
like you're not learning anything,
1271
01:28:48,760 --> 01:28:54,670
um, T just take inventory on what, uh,
what's been discussed so far since the
1272
01:28:54,670 --> 01:28:56,920
beginning of your exposure to my work.
1273
01:28:57,610 --> 01:29:02,110
And if you feel that you've not learned
anything, then I don't, I'm not sure.
1274
01:29:02,650 --> 01:29:03,040
I don't know.
1275
01:29:03,070 --> 01:29:04,450
I'm not sure how I could overcome.
1276
01:29:11,410 --> 01:29:14,710
But I'm going to close this one here,
which are all very pleasant weekend.
1277
01:29:14,830 --> 01:29:16,960
And I will get back with
you later on in recordings.
1278
01:29:17,740 --> 01:29:24,460
And I will post a link when the recording
for the, um, mitigating losses video.
1279
01:29:24,550 --> 01:29:25,120
And
1280
01:29:28,630 --> 01:29:31,300
it's a viewable format.
1281
01:29:31,330 --> 01:29:32,680
Is there on the forum.
1282
01:29:33,070 --> 01:29:33,340
Okay.
1283
01:29:33,670 --> 01:29:35,920
Until I'm talking to you next time,
which should be looking at the trading.
111452
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