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Okay, good morning folks.
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Welcome back today.
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We're gonna be looking for that
run on that 100 point 55 level.
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It's probably going to come out
in about 15 minutes on a news.
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I suspect when we hit that level,
we will see some, uh, turtle soup
6
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action means, uh, we expect it to go
up to that level and then sell off.
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All right, so let's get
this thing going here.
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All right.
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So I'm going to put your questions
in such that over to the side.
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Otherwise this will become
a very long video and it's
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not the intent this morning.
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So if we look at the weekly real quick,
before we get into the business here,
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we have this old high great here.
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That high comes in the form of.
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100 point 53.
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So if we're going to go above that did X
number, we would use this 100 point 55.
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Now it could go to 100 point 60.
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It could go to 100 point 80, but
we don't know exactly how high
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it's going to go yet, but our
expectations gets gone to expand up.
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At least to that 155 level, it will
be happening most likely on the news.
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That's released here in about 14 minutes.
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We've cleared these initial highs,
but not by much notice that also
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we have these equal are equal lows.
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Rather me put my donation there.
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So I think what we're doing is that
we kept a real small, tight little
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range here, and I suspected the
market's going to rally up, move
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into above this 100 point 55 level.
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Again, that's because of
this weekly high rate.
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Price is not, it hasn't been allowed to
go down until we get to an old level.
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So if they bought down here on
this weekly order block, they're
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going to want to unload those longs
up here above this level here.
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We're consolidating great.
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Before the news.
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Now it can come down again and
dry forward, but I don't think
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it's going to happen today.
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I think we're going to go straight
into that 100 point 55 level.
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If my assumptions are correct
in that outcome, we've also,
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uh, just fell short of that 100.
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I'm sorry.
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That 1.0687 level, which is
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maximize this chart.
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I can show it.
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Let's the last portion
of this range in here.
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Closing in.
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So we can see one or 6 35 as well.
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So this could, this could drop
down a little bit more aggressive.
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They then say the a pound.
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00:03:00,935 --> 00:03:02,774
You can see how we dipped
below that yesterday.
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00:03:03,524 --> 00:03:04,665
Yesterday's is right here.
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00:03:05,834 --> 00:03:12,135
I'll recap this entry from
yesterday at the daily recap.
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In other words, I'll do it
around two o'clock today.
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I just wanted to focus
on today's real time.
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Action.
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Uh, we have equal highs here as well.
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00:03:20,834 --> 00:03:27,554
So we may drive down in sympathy with
the rally that we expect on the dollar.
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That's going to translate
into more selling.
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But if we see, think about the dollar,
if we see the run up above 100 point
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55, maybe go 100 point 80, then we
fall below this 100 point 55 level.
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Again, what that means is is they,
they ran it above this old weekly.
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And then, uh, do a distribute those longs.
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00:03:53,975 --> 00:03:56,255
So it's going to sell
off those longs there.
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00:03:56,285 --> 00:04:00,095
We're probably going see it
trade back below 100 point 55.
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00:04:00,095 --> 00:04:04,535
Now that does not change the
upside momentum or trend.
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00:04:04,895 --> 00:04:06,095
And I'm not trying to pick the top.
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I'm just saying that that's the
next logical area where the market's
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going to reach for liquidity.
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00:04:10,505 --> 00:04:11,675
And it's based on weekly charts.
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That's really high probability.
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00:04:14,105 --> 00:04:17,825
How far beyond that 100 point 55
level that remains to be seen?
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00:04:18,045 --> 00:04:21,245
I don't know, but I know that
we are looking at at least dry
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00:04:21,265 --> 00:04:26,855
that, that far up, and that gives
us a short term bias for cable.
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00:04:29,075 --> 00:04:32,255
We're going to probably most likely
clear out this high that we saw run
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up late yesterday on the heels of the
Euro pound, which they ran both sides
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of the marketplace on that payer.
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And we'll talk about that also in the
daily recap, but for now that we're
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really looking just primarily on.
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Dollar wants to get that 155.
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There's our buy-side liquidity.
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And then we have the layer livestocks
here, here, and then we have the
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00:05:00,240 --> 00:05:05,760
weekly gap and that's assuming
largely on how much we sell off.
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If we get above that 100 point 55
level and may not do it all entirely,
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but for this in session, it may
neither roll it into New York.
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00:05:21,659 --> 00:05:25,320
And we have news later on today for
dollar CAD cleared out the equal
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loads in here even came down here.
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So we have a little bit of a void also.
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Okay.
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So we have that level 12 on the outside.
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We have this low, can I say 1 3490
that the focus primarily is going
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to be this, uh, this dollar run.
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So we're in an area of a breaker.
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00:05:51,775 --> 00:05:57,105
Why is this a breaker that went down move
right before short-term highs violated
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to stops have been taken on this rally.
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00:06:00,525 --> 00:06:07,065
We've broken through this consolidation
with this drive down, we cleared
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00:06:07,065 --> 00:06:09,615
some sales stops, but we have
not seen any prices answering it
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00:06:09,615 --> 00:06:11,655
back higher at any significance.
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The only bounce has been contained
inside this previous consolidation
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where the buys have been taken to run
up above a short term high in here.
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00:06:21,345 --> 00:06:27,885
So my expectation is, is I'm going to see
likely the 100 point 55 level on a dollar
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drive for that $1, which is a upside
pressure per dollar, which is going to put
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00:06:34,335 --> 00:06:35,985
downside pressure on foreign currencies.
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00:06:36,675 --> 00:06:39,765
That's also in line with what
we'd expect to see for a breaker
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over here and further downside.
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So we're looking for.
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Uh, another move below that one
to seven big figure for Euro.
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And again, we could see
it go down as low as one.
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Oh, sorry.
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1 0 6 87 to 1 0 6 35.
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If we see continuation
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so we could, could potentially see
the 2350 level washed out notice.
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There was no RMI, marsh
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and thoroughly
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obsessed about not anything that
are in my word now as I should, but
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never really considered using it
until it was brought to my attention.
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All right.
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Say back about five minutes.
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We're expecting the dollar to rise above
this, uh, this level right here, open up a
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clean fiber chart and work with this one.
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Okay.
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So you can clearly see where in
the breaker here down candle,
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right before the short-term high
had stopped above it by stops.
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It was cleared out here, forced out
this low here we're consolidating to the
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expectations of dollars going around.
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I said, 100 point 55 level,
we're going to stick.
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We're going to see the injection of
volatility with that three minutes or so.
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We'll see that the most likely happen.
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00:08:33,930 --> 00:08:34,980
So I'm going to sell it.
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Here on the breaker and
monitor, it says a clean chart.
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00:08:44,415 --> 00:08:51,824
And again, we're focusing on that
one at 6 87 level 30 PIP stop in
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case we get crazy price action.
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00:08:55,305 --> 00:08:56,444
I mean, that's what we're looking for
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00:09:01,185 --> 00:09:01,334
now.
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00:09:01,334 --> 00:09:08,235
Again, I suspected that news is going to
drive dollar immediately higher in that
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00:09:08,235 --> 00:09:17,895
should, if I'm correct, preserve leading
the show Heinz and allow me an opportunity
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00:09:17,895 --> 00:09:23,954
to get paid, even if it does reject that
dollar high that we just talked about.
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00:09:25,665 --> 00:09:29,474
So again, say I understand what
all this did, this down candle
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smart money buys and downtown.
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00:09:33,555 --> 00:09:35,805
We know that they bought
because price started the rally.
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Why did it rally?
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00:09:37,785 --> 00:09:38,655
When, where did it go to?
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It went above this short-term
high in here in here.
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So it was by stops right above that.
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So those biceps were taken here.
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One more time, swept ginger of lower.
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00:09:51,645 --> 00:09:55,965
We went below this previous
low here just by a little bit.
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00:09:56,985 --> 00:10:01,875
We've since bounced a little bit, not
much or inside of this down candle.
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00:10:01,875 --> 00:10:06,285
So the buys, they usually go
above take these by stops.
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00:10:06,855 --> 00:10:10,455
They're below profitability onwards.
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00:10:10,475 --> 00:10:11,625
They have to be medicated.
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00:10:12,375 --> 00:10:13,455
That's what we're looking at here.
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When, when we seen price rally
into here, we can see price
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trade all the way up to here.
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And it's okay.
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If not, it's not a big deal because
it's still inside of the breaker.
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00:10:21,975 --> 00:10:25,935
The breaker is the by candle or a
bullish Clint, uh, mature block.
155
00:10:26,895 --> 00:10:30,945
That's used to see price go higher, but
we only seen the short term high ticket.
156
00:10:32,615 --> 00:10:37,324
And we have upside objectives, $1 still,
which means that's going to be pressure.
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Let me turn my mind if X book off, because
it's going to be getting them on there.
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All right.
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00:10:42,005 --> 00:10:43,175
So numbers should be due out.
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Now check our dollar so far.
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00:10:48,215 --> 00:10:55,204
We're only staying inside this
down candle, which is what we're
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hoping to see it not go above
that and then expansion down.
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00:11:01,865 --> 00:11:07,415
I liked the fact that we've held
onto the initial rally for dollar
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we're inside the consolidation still.
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00:11:10,535 --> 00:11:15,814
And again, even though, okay, for
instance, let's say this was say this,
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this level here was slightly higher and
we did this run here above the 155 level.
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Then I would be expecting.
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00:11:26,444 --> 00:11:28,395
It's a washed out or wash out.
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00:11:29,355 --> 00:11:30,165
You can go lower.
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00:11:30,555 --> 00:11:30,765
Okay.
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00:11:30,765 --> 00:11:36,045
Are basically turtle soup from that run
because we have that 155 level up here.
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There are known buyers above that
level, above this 100.45 level.
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00:11:49,485 --> 00:11:51,225
There are willing buyers up there.
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00:11:52,395 --> 00:11:56,505
And if the dollar has been rallying,
it makes perfect sense for them to take
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price there because they can unload longs.
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00:11:59,805 --> 00:12:01,875
And when you unload
them long, you sell it.
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00:12:02,745 --> 00:12:08,025
And if you can find willing buyers higher
than we are in a price option, that's
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00:12:08,025 --> 00:12:09,675
what leads to institutional or flow.
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00:12:10,875 --> 00:12:13,035
You can see what that
weekly chart we shown.
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00:12:15,435 --> 00:12:18,824
The reason why that 100 point 55
level would be even considered.
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00:12:21,345 --> 00:12:23,385
And while this is typically.
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A liquidity void.
183
00:12:26,475 --> 00:12:33,495
And here I'm not expecting it to be filled
before this level, because this has more
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00:12:33,495 --> 00:12:41,235
draw higher, higher pool of liquidity
would be resting above the 100 point 55.
185
00:12:41,235 --> 00:12:44,115
I will no words presently there would be.
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00:12:44,715 --> 00:12:49,245
If we could weigh things out
in a scale, there would be more
187
00:12:49,245 --> 00:12:54,495
buyers willing to buy up here than
to allow price drop down here.
188
00:12:55,725 --> 00:12:57,285
We've already moved from this level.
189
00:12:57,675 --> 00:13:01,125
So while that may come back and be
traded into at a later time, and maybe
190
00:13:01,125 --> 00:13:05,235
even today, I don't suspect it's going
to go down that level again, just to
191
00:13:05,235 --> 00:13:10,395
go up because we've already breached
these initial short-term buy stops here.
192
00:13:11,205 --> 00:13:13,425
The next area where they
could unload longs would be
193
00:13:13,425 --> 00:13:15,675
up here and they may dry that.
194
00:13:15,675 --> 00:13:18,225
Not just above it by a little
bit, they might really push
195
00:13:18,225 --> 00:13:19,575
it up their heart and really.
196
00:13:21,675 --> 00:13:28,005
As far as, uh, you know, 1 0 1 level, they
can get wildly bullish seeing this weekly
197
00:13:28,035 --> 00:13:31,575
sharp, um, resistance level blown out.
198
00:13:32,205 --> 00:13:39,915
And if we expect that that fosters
the, uh, the, at least for me, the
199
00:13:39,915 --> 00:13:43,905
comfort of being able to still stay
inside this down candle, I don't
200
00:13:43,905 --> 00:13:45,615
feel so much anxiety about that.
201
00:13:46,995 --> 00:13:49,935
It doesn't mean that trade can't go
against me and they could still take
202
00:13:49,935 --> 00:13:52,995
this thing it's it could go down here.
203
00:13:53,115 --> 00:13:53,895
That could be wrong.
204
00:13:54,345 --> 00:13:54,585
Okay.
205
00:13:54,585 --> 00:13:55,305
They could do that.
206
00:13:55,305 --> 00:13:59,565
But I'm saying, speaking, in terms of
probability, it's probably not going
207
00:13:59,565 --> 00:14:01,035
to happen before they take it up here.
208
00:14:01,905 --> 00:14:05,595
In other words, if they, if they have
anybody down here short, you know,
209
00:14:05,715 --> 00:14:08,745
and they don't have a stop-loss here,
they're really going to run it against
210
00:14:08,745 --> 00:14:10,755
them and take up the ball, Melissa.
211
00:14:12,345 --> 00:14:15,675
And if they have a short position and
a drive it up to that level and he
212
00:14:15,675 --> 00:14:18,975
didn't have a stop-loss here what's
going to happen is when he get to
213
00:14:18,975 --> 00:14:22,335
this level, they're going to do what
they cover their short cover it.
214
00:14:23,295 --> 00:14:27,945
Well, how do you cover a short, you
buy it back, which again, promotes
215
00:14:27,945 --> 00:14:29,385
more buying at a higher level.
216
00:14:29,925 --> 00:14:30,855
Why would they want to do that?
217
00:14:31,185 --> 00:14:33,045
Because they have
underlying long positions.
218
00:14:33,045 --> 00:14:37,695
They want to sell to everything's
being engineered to drive price
219
00:14:37,695 --> 00:14:41,235
up to this level here for buyers.
220
00:14:42,555 --> 00:14:46,815
And if they can have buyers at a higher
price, they can unload their long
221
00:14:46,815 --> 00:14:53,085
positions, profitably and efficiently, all
under the guise of delivering liquidity.
222
00:14:54,705 --> 00:14:58,755
I'm not, it's not something we
vilified them as a market maker.
223
00:14:59,655 --> 00:15:02,265
If you're getting fleeced it's because
you don't know what you're doing.
224
00:15:02,955 --> 00:15:04,575
And it's part of the business.
225
00:15:05,505 --> 00:15:09,015
Now in terms of mitigation blocks,
you've heard me talk about that.
226
00:15:09,855 --> 00:15:10,965
Um, a lot.
227
00:15:10,965 --> 00:15:16,155
And if you're new to my stuff
and you joined the mentorship and
228
00:15:16,155 --> 00:15:19,785
you had listened to this video,
the, the idea of mitigation.
229
00:15:23,535 --> 00:15:27,375
When we see this up handle right
before we see the down move,
230
00:15:27,824 --> 00:15:29,145
this is the bare shorter block.
231
00:15:29,145 --> 00:15:34,185
Cause we know that the smart money
cells in the up candle up moves when
232
00:15:34,185 --> 00:15:40,454
that candle is violated rate there,
that becomes a bear shorter block, this
233
00:15:40,454 --> 00:15:49,395
up candle when price trades through
that candle, as it does here, this bear
234
00:15:49,395 --> 00:15:52,454
shorter block becomes a inversion level.
235
00:15:52,635 --> 00:15:56,385
Now it's world flips that
becomes resistance now support,
236
00:15:57,255 --> 00:16:00,555
and you focus primarily on
the upper half of that candle.
237
00:16:02,055 --> 00:16:04,785
Let me put it on your chart so you
can see what I'm about to explain.
238
00:16:06,015 --> 00:16:06,345
Okay.
239
00:16:07,005 --> 00:16:08,085
Half the body's candle.
240
00:16:11,625 --> 00:16:18,705
When price trades above the down
candle, our mind says, okay,
241
00:16:19,275 --> 00:16:24,405
price has gone through the top
of this candle right there.
242
00:16:25,515 --> 00:16:30,915
So now anything that they use
to sell here, it's underwater.
243
00:16:31,275 --> 00:16:32,625
In other words, it's unprofitable here.
244
00:16:34,485 --> 00:16:34,935
I'm sorry.
245
00:16:34,935 --> 00:16:39,885
It's profitable here, but my dries up
above this high, it becomes unprofitable.
246
00:16:41,265 --> 00:16:44,745
So for them to take price back
down into this, that allows them
247
00:16:44,745 --> 00:16:47,745
to mitigate those short positions.
248
00:16:48,495 --> 00:16:50,205
And if they're going to mitigate
a short position, that means
249
00:16:50,205 --> 00:16:54,165
they're going to get off that
short position and add more longs.
250
00:16:54,975 --> 00:16:56,265
So they're mitigating the loss.
251
00:16:56,265 --> 00:16:58,755
Then they're now holding when prices here.
252
00:17:00,085 --> 00:17:01,095
That's why we're seeing price.
253
00:17:01,095 --> 00:17:04,365
Hold on to this range that we're
seeing in the shaded green area.
254
00:17:05,235 --> 00:17:07,185
So they're mitigating these positions.
255
00:17:08,400 --> 00:17:12,600
In preparation for an expansion
to run to 100 point 55 level.
256
00:17:15,360 --> 00:17:19,830
So when bearish order blocks are
up candles before down moves get
257
00:17:19,830 --> 00:17:25,110
violated, real supporting systems,
there's ideas come into play in the
258
00:17:25,110 --> 00:17:26,760
form of the ranges of the candles.
259
00:17:27,450 --> 00:17:30,210
And then inside that range, you
can define more specifically
260
00:17:30,210 --> 00:17:31,230
what that level would be.
261
00:17:32,100 --> 00:17:33,420
This down candle here
262
00:17:37,080 --> 00:17:37,920
being a breaker.
263
00:17:38,310 --> 00:17:39,300
That's what we're doing here.
264
00:17:39,690 --> 00:17:43,350
We're viewing these long positions
that were assumed in a down candle.
265
00:17:44,280 --> 00:17:48,300
We're assuming that they're mitigating
those because we went below that candle.
266
00:17:48,690 --> 00:17:50,490
So there's long in this down candle.
267
00:17:50,790 --> 00:17:51,840
They have to be mitigated.
268
00:17:51,840 --> 00:17:55,350
If they're going to take price lower, they
don't want to hold onto a losing trade.
269
00:17:55,350 --> 00:18:00,360
If they can avoid it, it's much more
efficient for them to keep it clean.
270
00:18:00,360 --> 00:18:00,450
But.
271
00:18:06,385 --> 00:18:10,105
can we get about 12 minutes in
a London session, kills her and
272
00:18:10,105 --> 00:18:15,355
closes to ideally we want to see
price expand through it at least get
273
00:18:15,355 --> 00:18:17,305
through the initial high of the day
274
00:18:22,254 --> 00:18:24,025
on the topic of my effects books.
275
00:18:24,895 --> 00:18:31,315
Um, this weekend, when we released the
teachings, you'll be instructed to get
276
00:18:31,345 --> 00:18:40,075
a, my FX book started this weekend and I
will have a, another, my effects opened.
277
00:18:40,345 --> 00:18:43,585
That'll be moving in
tandem with each of you.
278
00:18:44,725 --> 00:18:50,515
Now, the one I started, uh, was more
or less an interest of mine to show a
279
00:18:50,515 --> 00:18:54,115
couple of people on the sidelines that
were watching, uh, what could be done.
280
00:18:54,955 --> 00:18:57,925
So it's not really, even
I used the ICT mentorship.
281
00:18:57,955 --> 00:18:58,905
Uh, there are a lot of cable.
282
00:19:00,150 --> 00:19:06,660
Um, around that Brexit stuff, that
really wouldn't be a, they wouldn't
283
00:19:06,660 --> 00:19:09,510
be traded by you in the mentorship.
284
00:19:09,930 --> 00:19:11,220
It's a lot of, it was a lot of risk.
285
00:19:11,940 --> 00:19:16,710
So you you'll be seeing a
secondary my effects in addition.
286
00:19:16,710 --> 00:19:21,480
So the one you've been seeing, I'm
going to be using that for my, uh,
287
00:19:21,570 --> 00:19:25,800
public forum followers, the people
that are not in the mentorship,
288
00:19:29,110 --> 00:19:31,000
and then we'll have one
that's completely open.
289
00:19:31,540 --> 00:19:32,920
You guys will have access to it.
290
00:19:33,160 --> 00:19:36,160
And when I do it, I'm asking you,
please don't share that because
291
00:19:36,160 --> 00:19:41,290
I don't want people getting in,
um, in the discussion part of it.
292
00:19:41,920 --> 00:19:44,830
If we can keep it where it can
be used just for our group,
293
00:19:45,700 --> 00:19:46,870
that's the intended purpose.
294
00:19:46,870 --> 00:19:47,650
I don't want to have it.
295
00:19:47,650 --> 00:19:52,060
Where two falls come in there
and start being very disruptive.
296
00:19:52,990 --> 00:19:57,760
It's not meant for that, but it'll
show them, it'll show you how.
297
00:19:59,835 --> 00:20:05,385
I journal I'll give commentary the
same way I would do in my own journal.
298
00:20:05,925 --> 00:20:09,135
Um, there's a feature on my effects
book that allows you to do that.
299
00:20:10,215 --> 00:20:12,735
And I'll show that, uh, this weekend.
300
00:20:13,635 --> 00:20:17,205
So that way all you will have, and I
want to hear, I don't want to open up
301
00:20:17,205 --> 00:20:18,735
my hooks book, Michael, I'm scared.
302
00:20:19,155 --> 00:20:20,085
No one's seeing it.
303
00:20:20,534 --> 00:20:21,405
It's just for you.
304
00:20:25,485 --> 00:20:29,625
I'm not asking anybody to show their,
my effects book publicly, but it, part
305
00:20:29,625 --> 00:20:34,575
of the mentorship is for you to have
accountability and also documentation,
306
00:20:37,635 --> 00:20:41,955
because some of you are aspiring
fund managers in the making.
307
00:20:42,855 --> 00:20:45,345
And this is going to be
the beginning steps to you.
308
00:20:45,345 --> 00:20:47,175
Being able to show your, uh,
309
00:20:50,385 --> 00:20:54,975
potential principles that you
can show a profit and real
310
00:20:54,975 --> 00:20:57,825
low risk, smooth equity curve.
311
00:21:00,240 --> 00:21:01,620
I mean, it can't tell him you did it.
312
00:21:01,620 --> 00:21:02,460
You got to show it to him.
313
00:21:05,129 --> 00:21:08,879
Now we just transitioned
from daylight savings time.
314
00:21:11,370 --> 00:21:16,020
And for about a week or two,
there's always this muddy
315
00:21:16,440 --> 00:21:18,000
performance with the kill zones.
316
00:21:18,510 --> 00:21:26,100
Um, there's like a, uh, I guess it's
a lag where folks that want to follow
317
00:21:26,100 --> 00:21:33,090
daylight savings, time there's adult,
um, it creates a little bit of a, a gray
318
00:21:33,090 --> 00:21:36,560
area for the overlapping on the Kilz.
319
00:21:36,780 --> 00:21:41,780
And sometimes what'll happen is you'll get
these post 5:00 AM or what would it be?
320
00:21:41,800 --> 00:21:42,570
London lunch.
321
00:21:42,960 --> 00:21:46,410
I mean, it was when they have
typically generally not seen.
322
00:21:47,190 --> 00:21:52,200
And what I mean by that is I'd say, say
our assumptions are correct, and we're
323
00:21:52,200 --> 00:21:55,110
going to see a move to that 155 level $1.
324
00:21:57,014 --> 00:21:57,284
Okay.
325
00:21:57,615 --> 00:22:00,014
Our expectation is that
markets should expand higher.
326
00:22:00,105 --> 00:22:04,935
Green candle should be moving up into
that 100 point 55 level sometime today.
327
00:22:05,385 --> 00:22:10,514
Preferably it should be moving now,
but it could do it a little bit later.
328
00:22:11,925 --> 00:22:16,185
And while it would normally do that
during the 5:00 AM to 7:00 AM time
329
00:22:16,185 --> 00:22:18,195
period, again, relative to my time.
330
00:22:18,465 --> 00:22:22,784
So we're speaking in terms of
New York 5:00 AM to 7:00 AM.
331
00:22:23,235 --> 00:22:25,935
Typically the market will be in
a quiet little holding pattern
332
00:22:25,935 --> 00:22:27,284
or a small little consolidation.
333
00:22:28,514 --> 00:22:31,935
If we're expecting lower prices, we
are seeing the initial move lower.
334
00:22:33,945 --> 00:22:36,975
This, this range in here that we created.
335
00:22:36,975 --> 00:22:38,745
These short-term highs
in this low in here.
336
00:22:39,254 --> 00:22:43,845
Generally, what would happen is if the
market stays in that little range between
337
00:22:43,875 --> 00:22:47,295
5:00 AM and seven, if it's going to
be a down day, or if we have downside
338
00:22:47,955 --> 00:22:51,585
objective still to be met, uh, the
market usually stays in a tight little
339
00:22:51,585 --> 00:22:53,145
range and it's not the one in lunch.
340
00:22:55,005 --> 00:22:59,295
Then around seven o'clock in the morning,
the market will start expanding again.
341
00:22:59,835 --> 00:23:00,045
Okay.
342
00:23:00,045 --> 00:23:03,225
And generally, if it's going to be a
down day, you'll see a retracement.
343
00:23:03,855 --> 00:23:05,445
In this case, it would
be a retracement higher.
344
00:23:05,715 --> 00:23:07,755
We don't want to see that
because we're inside of the
345
00:23:07,755 --> 00:23:09,225
mitigation block or a breaker.
346
00:23:09,735 --> 00:23:14,415
So the market is consolidating
here in worst case scenario is
347
00:23:14,415 --> 00:23:18,195
that it pops up here to the top end
of that range of the shaded area.
348
00:23:18,495 --> 00:23:19,815
Again, I don't want to see that.
349
00:23:21,555 --> 00:23:26,865
I think we're going to roll over
Doring post 5:00 AM not because it's
350
00:23:28,245 --> 00:23:30,165
not because I'm going to trade and I'm
hoping that's what it's going to be.
351
00:23:30,495 --> 00:23:35,625
I'm talking myself into
a favorable outcome.
352
00:23:36,045 --> 00:23:41,055
I'm saying that the reason why I expect
that today is because the transition from
353
00:23:41,055 --> 00:23:46,665
daylight savings time is still in effect
and it, sometimes it creates a lag effect.
354
00:23:47,415 --> 00:23:50,775
So while generally between 5:00
AM and 7:00 AM, New York time.
355
00:23:51,660 --> 00:23:53,910
That's usually a quiet consolidation.
356
00:23:55,350 --> 00:23:59,490
And then there's a re a retracing of
some sort after 7:00 AM, New York time
357
00:23:59,490 --> 00:24:03,930
going into the eight 30 or eight 20,
and then the resumption of the trend or
358
00:24:03,930 --> 00:24:07,680
direction of the day that was established
during London, then it's allowed to
359
00:24:07,680 --> 00:24:12,510
go and unfold where the daily range
of saying would be on, uh, in line
360
00:24:12,510 --> 00:24:16,470
then post 8, 28 30 am, New York time.
361
00:24:19,690 --> 00:24:21,190
I mean, if that went
over your head, trust me.
362
00:24:21,250 --> 00:24:22,390
It's great deal.
363
00:24:22,390 --> 00:24:28,270
More detail about time of day and,
uh, killed zones in your mentorship
364
00:24:29,380 --> 00:24:34,510
that I felt it necessary to talk
about why it's possibly holding here.
365
00:24:34,540 --> 00:24:37,330
And it may roll over after 5:00 AM.
366
00:24:37,330 --> 00:24:39,610
When normally you don't want to
be trading between five o'clock
367
00:24:39,610 --> 00:24:44,380
in the morning to, well, I used,
I mean, I've, I've done trade.
368
00:24:45,300 --> 00:24:48,540
As early as six 30 in the morning,
my time I get up, I see something
369
00:24:48,540 --> 00:24:53,040
I like I'll assume a position then,
but generally I like to see it
370
00:24:54,090 --> 00:24:57,659
happen between seven o'clock in the
morning at eight 30 in the morning.
371
00:24:57,689 --> 00:25:01,530
That's like, to me, it's like the
sweet spot for the New York kill.
372
00:25:01,530 --> 00:25:05,310
When about two more minutes in that?
373
00:25:06,870 --> 00:25:13,800
Well, now one minute before the ITT
London kills, and again, I would
374
00:25:13,800 --> 00:25:21,840
rather see the hype preached before we
close the kill zone to keep everything
375
00:25:21,840 --> 00:25:26,580
in line and after we'll be on, on
schedule, let's put it that way.
376
00:25:30,240 --> 00:25:30,480
Okay.
377
00:25:30,480 --> 00:25:31,560
It's 5:00 AM.
378
00:25:33,120 --> 00:25:38,909
Well, I've been ICT kill zone
is closing for London so far.
379
00:25:38,909 --> 00:25:44,010
It looks like we still have, uh,
upside expansion due for a dollar.
380
00:25:45,630 --> 00:25:48,930
About to take that initial high
out noted by that red line here.
381
00:25:50,280 --> 00:25:53,820
Once that's taken out, we don't
want to see any give back.
382
00:25:54,270 --> 00:25:55,230
We want to see it expand.
383
00:25:57,480 --> 00:25:59,190
Let's just create a big green candle.
384
00:26:00,360 --> 00:26:05,610
Now again, we got to go into a
role model, a role playing model,
385
00:26:07,320 --> 00:26:08,820
looking at this price action here.
386
00:26:09,690 --> 00:26:15,720
Would you be comfortable if you
were short, I'm asking rhetorically.
387
00:26:15,720 --> 00:26:17,430
So I'm not seeing your
questions or comments.
388
00:26:17,430 --> 00:26:19,530
I'm just asking, put benefit of those.
389
00:26:19,530 --> 00:26:20,250
Watching the video.
390
00:26:20,250 --> 00:26:20,970
That's a recording.
391
00:26:24,480 --> 00:26:28,050
Would you be comfortable seeing that
as a, if you were short on dollar
392
00:26:28,320 --> 00:26:31,950
or if you were bearish on dollar,
would you see this price action as
393
00:26:32,760 --> 00:26:38,970
positive for your, uh bearishness
would you feel comfortable if he were
394
00:26:38,970 --> 00:26:40,460
short and you had your stop-loss up?
395
00:26:42,570 --> 00:26:48,330
If you were short and you didn't have
a stop here, chances are you probably
396
00:26:48,330 --> 00:26:50,400
have it above that weekly high up here.
397
00:26:52,500 --> 00:26:56,280
And you, you thinking, well, that's a
good 20 pips away that I should be safe.
398
00:26:57,870 --> 00:26:59,220
That's what retail thinks all the time.
399
00:27:03,030 --> 00:27:03,240
Okay.
400
00:27:03,240 --> 00:27:08,370
If it's about to expand, create a new
intraday high on dollar, I've been
401
00:27:08,370 --> 00:27:15,060
getting a lot of emails asking if I
have ever traded dollar index and the
402
00:27:15,060 --> 00:27:18,720
answer is no, I use it as a barometer.
403
00:27:19,170 --> 00:27:20,250
It helps me direction.
404
00:27:22,620 --> 00:27:26,580
It helps me build a directional
model for my trades.
405
00:27:29,310 --> 00:27:32,250
So I treat it like the Dow Jones,
industrial average for stocks.
406
00:27:33,810 --> 00:27:41,670
Now, when we take London session entries,
Typically, uh, we're never really in a
407
00:27:41,670 --> 00:27:47,700
rush to take our stop to a break even,
uh, we'd like to keep our stop at the
408
00:27:47,700 --> 00:27:51,960
same location we use when we first got
into trade in London and carry that
409
00:27:51,960 --> 00:28:00,210
stop all the way to new York's open
the time that that changes in the time.
410
00:28:00,330 --> 00:28:04,890
In other words, the way that protocol
changes is when we're up against
411
00:28:04,890 --> 00:28:09,300
something like we're looking at here,
the dollar is up against the long-term
412
00:28:10,020 --> 00:28:14,610
resistance level in the form of that
100 point 52 level on my data feed.
413
00:28:15,150 --> 00:28:18,210
I rounded up to the next five level,
which is the reason that 100 point
414
00:28:18,210 --> 00:28:24,390
55 levels on the chart because we're
in close proximity to that level.
415
00:28:25,080 --> 00:28:30,750
We have a potential to cap that range
at that level, or just above it.
416
00:28:31,440 --> 00:28:33,570
I'm not saying that it's going
to have just a short little run.
417
00:28:33,660 --> 00:28:36,480
I'm saying that because
we are in close proximity.
418
00:28:37,290 --> 00:28:41,520
We could go up to that level and then
take a great deal of profit taking
419
00:28:41,520 --> 00:28:43,140
there and may see some sell off.
420
00:28:44,070 --> 00:28:45,870
That's not something
you want to sit through.
421
00:28:46,620 --> 00:28:52,080
So if we see the Euro dollar short
breakdown, we will be more aggressive
422
00:28:52,080 --> 00:28:57,870
today in preserving that position,
because we don't know the outcome of
423
00:28:57,870 --> 00:29:02,850
what that height, timeframe resistant
level is going to do for our short, it
424
00:29:02,850 --> 00:29:06,120
could go up there and hit that and then
sell off on the dollar, which means this
425
00:29:06,120 --> 00:29:07,410
is going to go down and then shoot up.
426
00:29:09,900 --> 00:29:15,150
When we don't have these long-term
resistance levels in our path,
427
00:29:16,740 --> 00:29:22,320
one of our shorting like this,
then we leave the stop in.
428
00:29:22,380 --> 00:29:22,990
We're looking forward.
429
00:29:23,490 --> 00:29:26,190
If we didn't have this weekly
objective here, say we cleared out
430
00:29:26,220 --> 00:29:30,990
this, say this level down here was the
higher timeframe, resistance level.
431
00:29:30,990 --> 00:29:33,270
Long-term and we're seeing expansion.
432
00:29:33,300 --> 00:29:35,310
You don't want to show your stop-loss off.
433
00:29:35,340 --> 00:29:35,760
You don't give it.
434
00:29:36,750 --> 00:29:39,960
And allow it to move and it could
really take off and run for you.
435
00:29:41,159 --> 00:29:48,090
In this case, we are up against a
potential weekly reversal or a re uh,
436
00:29:48,300 --> 00:29:53,370
a period at which it could go into
a long consolidation and base for
437
00:29:53,370 --> 00:29:58,710
a little bit, because we've seen a
really very aggressive, uh, bull run
438
00:29:59,129 --> 00:30:01,830
on the dollar since Trump's election.
439
00:30:03,540 --> 00:30:08,730
So a little bit of give back at this level
would be logical, and we don't wanna, we
440
00:30:08,730 --> 00:30:09,990
don't want to sit through any of that.
441
00:30:10,379 --> 00:30:13,110
We want to get paid, reduce the risk.
442
00:30:13,110 --> 00:30:16,830
As soon as we possibly can take
something off and reach for 20 to
443
00:30:16,830 --> 00:30:18,389
30 pips and be thankful we got it.
444
00:30:18,659 --> 00:30:19,860
And then moved to the sidelines.
445
00:30:20,520 --> 00:30:26,220
Once you have the, uh, when
the market's really symmetrical
446
00:30:26,220 --> 00:30:28,560
and everything's imbalanced.
447
00:30:30,900 --> 00:30:35,129
Trading becomes a lot more relaxing.
448
00:30:35,530 --> 00:30:38,160
I guess the word is not
necessarily Cincy relaxing.
449
00:30:38,850 --> 00:30:40,500
It's a little bit more comfortable.
450
00:30:40,530 --> 00:30:41,310
Let's say it that way.
451
00:30:42,120 --> 00:30:47,760
Um, when the market's not symmetrical,
um, even my own trading, you know, I feel
452
00:30:48,180 --> 00:30:54,000
anxious about certain setups, but when
it is symmetrical and you can re refer
453
00:30:54,000 --> 00:30:57,720
to reference points, like we discussed
here with the mitigation block here,
454
00:30:58,740 --> 00:31:02,670
this last up candle, why we allow the
price to come down into that halfway.
455
00:31:02,730 --> 00:31:03,900
That's why we solve this.
456
00:31:04,530 --> 00:31:07,470
We don't want to see these
wicks be traded back down into.
457
00:31:08,070 --> 00:31:12,000
So as long as price stays above
the body of this down candle,
458
00:31:12,030 --> 00:31:16,230
which is why I noticed that and
that I'm not uncomfortable at all.
459
00:31:16,950 --> 00:31:20,790
If we lose this body's candle, then we'll
probably have to trade back into this
460
00:31:20,790 --> 00:31:25,590
range during the New York session, while
it still could go for the 155 by one.
461
00:31:26,429 --> 00:31:27,780
After that it can do that.
462
00:31:28,230 --> 00:31:29,699
I don't want to be a part of that trade.
463
00:31:30,330 --> 00:31:34,919
So when you understand a market
structure like this and institutional
464
00:31:35,850 --> 00:31:39,330
market structure, it gives you
a great deal of confidence.
465
00:31:39,990 --> 00:31:45,959
And it gives you objectivity, which is
what most traders lack, even traders
466
00:31:45,959 --> 00:31:47,070
that have been around for awhile.
467
00:31:47,340 --> 00:31:52,409
They lacked that they're still flying
by the seat of their pants many times.
468
00:31:53,189 --> 00:31:59,459
And at the end of this mentorship, when
you're taking your own trades, you'll hear
469
00:31:59,459 --> 00:32:06,929
your own internal voice telling you, okay,
well, the market is gone, but this last
470
00:32:07,080 --> 00:32:12,090
candle, after we saw a retracement and
lower, now I need to look at this candle
471
00:32:12,090 --> 00:32:17,760
here, divide it in half and be allowing
price without making you uncomfortable.
472
00:32:18,149 --> 00:32:21,780
When it's trading down there,
there's no sense of emergency.
473
00:32:21,780 --> 00:32:23,399
There's no reason for you to feel anxious.
474
00:32:23,399 --> 00:32:24,480
There's no reason for you to be.
475
00:32:25,860 --> 00:32:28,500
Worried or upset it's expected.
476
00:32:28,500 --> 00:32:29,280
It's reasonable.
477
00:32:30,270 --> 00:32:35,190
And if you have a mindset about
price action like this, it gives
478
00:32:35,190 --> 00:32:36,810
you a great deal of clarity.
479
00:32:38,010 --> 00:32:43,830
And that's what separates the neophyte
or the reactionary trader or retail
480
00:32:43,830 --> 00:32:48,330
trader from the professional of the
professional to understand price action.
481
00:32:48,330 --> 00:32:52,350
They can go in and see price and say,
okay, I understand what's going on here.
482
00:32:52,710 --> 00:32:53,280
Wow.
483
00:32:54,420 --> 00:32:56,730
Anyone else looking at a one minute
chart or a five minute chart?
484
00:32:56,730 --> 00:32:59,639
And they're seeing this being
formed with a down candle.
485
00:33:00,149 --> 00:33:01,920
They're thinking it's
the end of the world.
486
00:33:02,040 --> 00:33:05,100
And the dollar is going to
crash because there they're not
487
00:33:05,100 --> 00:33:06,240
looking at things objectively.
488
00:33:06,240 --> 00:33:07,800
They have no framework at all.
489
00:33:08,610 --> 00:33:14,590
So when you get to your trading where
we're outside the mentorship, and there's
490
00:33:14,590 --> 00:33:19,120
no videos of me talking about it, I'm not
over your shoulder with you, or you're
491
00:33:19,120 --> 00:33:22,240
not over my shoulder watching me comments
about why the market should be moving.
492
00:33:22,240 --> 00:33:22,360
Like.
493
00:33:24,120 --> 00:33:27,060
You'll have your own internal
dialogue taking place.
494
00:33:27,690 --> 00:33:31,649
And that's the part of the mentorship
that you need to be engaging in.
495
00:33:32,580 --> 00:33:37,980
You'll probably hear my own voice for
a while, but eventually you have to
496
00:33:37,980 --> 00:33:39,750
say this stuff out loud to yourself.
497
00:33:39,780 --> 00:33:43,470
You have to talk about it, even though
you're in your room by yourself, your
498
00:33:43,470 --> 00:33:48,840
trading office, or whatever, say out
loud, like you're teaching someone
499
00:33:49,620 --> 00:33:52,889
speak about the things that you're
learning in the mentorship, and it
500
00:33:52,889 --> 00:33:54,810
becomes your own internal dialogue.
501
00:33:54,870 --> 00:33:56,790
And in my voice will be
replaced by your own.
502
00:33:57,240 --> 00:34:01,590
And then when you see price action dome,
it's saying you won't, you won't feel
503
00:34:01,590 --> 00:34:05,550
that tug of war that you feel now as a,
as a new trader or someone that's not
504
00:34:05,550 --> 00:34:11,340
been consistently profitable, you'll
feel that start to be, uh, removed
505
00:34:11,340 --> 00:34:12,690
from your, your thought process.
506
00:34:12,750 --> 00:34:14,279
And you'll have clarity.
507
00:34:14,790 --> 00:34:19,350
You won't have any of these, uh, knee-jerk
reactions and psychological pitfalls.
508
00:34:20,610 --> 00:34:21,540
That tug of war.
509
00:34:21,840 --> 00:34:23,310
Am I in the right direction?
510
00:34:23,310 --> 00:34:24,420
Am I in the right trade?
511
00:34:24,600 --> 00:34:25,320
Should I have done this?
512
00:34:25,470 --> 00:34:27,210
You're not thinking about
those types of things.
513
00:34:27,840 --> 00:34:30,180
You're just focusing on what makes sense.
514
00:34:30,360 --> 00:34:33,180
What makes sense is that the market
shouldn't come back down below halfway
515
00:34:33,270 --> 00:34:38,100
of this candle, here is up candle price
came down half to halfway through it
516
00:34:38,100 --> 00:34:42,690
here, and now we're seeing expansion,
which is what we expect to see.
517
00:34:43,380 --> 00:34:45,390
And we give the market time.
518
00:34:45,960 --> 00:34:49,050
Again, it's submitting to time
the market's going to do when it's
519
00:34:49,050 --> 00:34:51,150
going to do it on its own time.
520
00:34:51,570 --> 00:34:53,340
We just wait for it to happen.
521
00:34:53,730 --> 00:34:58,920
But we build parameters where
we allow price to do a certain
522
00:34:58,920 --> 00:35:01,470
measure of adverse price action.
523
00:35:02,190 --> 00:35:02,460
Okay.
524
00:35:02,460 --> 00:35:06,960
So our allowing price to move
against our intended direction,
525
00:35:07,470 --> 00:35:08,910
but it has to be within reason.
526
00:35:09,810 --> 00:35:14,490
You know, if this thing was a
mitigation block, it wouldn't need
527
00:35:14,490 --> 00:35:15,600
to come all the way down here.
528
00:35:16,605 --> 00:35:21,705
To do that jeopardizes the outcome or
the framework of your trade or my trade.
529
00:35:22,455 --> 00:35:28,465
So what I'm willing to see is I want to
see this candle right here, after that
530
00:35:28,465 --> 00:35:30,555
be eroded into, which is what we saw.
531
00:35:30,735 --> 00:35:32,265
They whipped several times into it.
532
00:35:32,445 --> 00:35:39,945
1, 2, 3, 4, and now we got through
to the last day on candles bodies.
533
00:35:40,515 --> 00:35:44,025
These down candles have now
been turned into bullish or
534
00:35:44,025 --> 00:35:46,245
blocks to now going forward.
535
00:35:46,305 --> 00:35:51,405
Institutional order flow, permits
us to trade a little bit higher
536
00:35:51,885 --> 00:35:56,475
and it can retrace back down
into this level right there.
537
00:35:57,435 --> 00:36:00,195
This no longer is a viable
level cause it's been breached.
538
00:36:00,705 --> 00:36:01,245
So we removed.
539
00:36:02,660 --> 00:36:05,000
So now we wait and watch and see
if there's any further expansion.
540
00:36:05,299 --> 00:36:09,169
If it starts to retrace and we do
not freak out, we do not get scared.
541
00:36:09,680 --> 00:36:10,430
We don't panic.
542
00:36:10,459 --> 00:36:12,439
We don't send direct messages to ICT.
543
00:36:12,439 --> 00:36:15,709
We don't send them in the question
box with what should I be doing?
544
00:36:15,709 --> 00:36:16,580
Jimmy, take profits.
545
00:36:16,759 --> 00:36:18,890
You're not asking me
anything you're observing.
546
00:36:19,729 --> 00:36:23,750
So when price expands like this,
we permit price to come back down.
547
00:36:23,750 --> 00:36:25,100
This is a retrade to that price.
548
00:36:25,100 --> 00:36:27,290
Now it broke through the previous high.
549
00:36:27,589 --> 00:36:32,240
It can come down here in this candle,
hit it, trade back down to this one
550
00:36:32,240 --> 00:36:33,830
a little bit too, and then expand.
551
00:36:34,310 --> 00:36:35,330
That's all normal.
552
00:36:35,479 --> 00:36:37,399
It's all normal price action.
553
00:36:39,049 --> 00:36:42,529
But sometimes you'll see this and say,
okay, well it just went above that high.
554
00:36:43,229 --> 00:36:44,540
It's at a turtle soup cell.
555
00:36:44,569 --> 00:36:46,459
No, no.
556
00:36:46,490 --> 00:36:48,259
This is all normal price delivery.
557
00:36:48,919 --> 00:36:54,319
Why would they, why would they, um,
I'm thinking out loud now because
558
00:36:54,430 --> 00:36:57,500
I'm thinking if I was new, what
would I be thinking about this setup?
559
00:36:59,250 --> 00:37:03,600
Why would they only allow price
to go up just this much and in
560
00:37:03,600 --> 00:37:06,130
reverse it when they have the stops.
561
00:37:06,130 --> 00:37:09,450
So close to where they're at right
now, it's just a short little
562
00:37:09,450 --> 00:37:12,930
distance, bike it up in there and
they could do that in one minute.
563
00:37:13,050 --> 00:37:13,590
They could do that.
564
00:37:13,830 --> 00:37:19,530
It could gap up there in 1520
pips and run those 10 55 stops.
565
00:37:21,030 --> 00:37:25,350
Why would they want just to come after
this buy-side liquidity, when they have
566
00:37:25,380 --> 00:37:31,200
these huge weekly objective resistance
levels, where are they seeing people?
567
00:37:31,200 --> 00:37:33,960
Obviously they knew there's going
to be traders that have orders
568
00:37:33,960 --> 00:37:37,620
up there because they're looking
at a hard time weekly chart.
569
00:37:38,910 --> 00:37:43,410
So if they have this big neon sign
and I make, I make this joke a lot.
570
00:37:45,900 --> 00:37:46,170
Yeah.
571
00:37:46,200 --> 00:37:47,730
Everyone's looking for a neon sign.
572
00:37:48,360 --> 00:37:49,470
Well, there's anything outside.
573
00:37:51,510 --> 00:37:51,840
Okay.
574
00:37:51,870 --> 00:37:55,200
There's there's willing buyers up
there and they're screaming self.
575
00:37:56,415 --> 00:37:57,405
Sell to me.
576
00:37:57,735 --> 00:37:58,275
I'm right here.
577
00:37:58,275 --> 00:37:58,875
Sell to me.
578
00:37:59,505 --> 00:38:03,165
Well, the market's gone to oblige
them because they have underlying long
579
00:38:03,165 --> 00:38:07,095
positions and they want to get out at
a profitable position and what's the
580
00:38:07,095 --> 00:38:09,165
best place to sell at a higher price.
581
00:38:09,795 --> 00:38:14,655
So while we have expanded about this
initial intraday high, that's great, but
582
00:38:14,655 --> 00:38:16,605
I don't believe the train's finished.
583
00:38:16,605 --> 00:38:19,755
I think it's going to drive
up into that 155 level and
584
00:38:19,755 --> 00:38:22,455
accommodate those individuals that
want to buy at a higher price.
585
00:38:24,015 --> 00:38:28,035
And that's that market
efficiency paradigm in action.
586
00:38:29,715 --> 00:38:32,505
So we hold and we wait
and see the outcome.
587
00:38:33,945 --> 00:38:35,415
Now bear with me for a few minutes.
588
00:38:35,445 --> 00:38:36,375
I'm going to put you on mute.
589
00:38:36,585 --> 00:38:40,665
I knew I need to get something
to drink now, the longer it takes
590
00:38:41,895 --> 00:38:45,795
just below a resistance, I like
we've outlined for the dollar.
591
00:38:46,815 --> 00:38:51,555
The longer it stays down here, the
more inclined I'm to believe that once
592
00:38:51,555 --> 00:38:52,845
we get to that level, it's probably.
593
00:38:54,045 --> 00:38:59,835
Um, a great deal, more
profit taking no words.
594
00:39:00,195 --> 00:39:02,025
We could see it, turtle soup there.
595
00:39:02,535 --> 00:39:05,415
And again, that's the reason why
we need to be nimble about our
596
00:39:05,415 --> 00:39:07,095
short position on our Euro trade.
597
00:39:08,805 --> 00:39:12,015
We want to take something off, get
her stopped down the break, even
598
00:39:12,015 --> 00:39:15,645
so that way we can objectively
manage the last portion.
599
00:39:16,365 --> 00:39:22,275
Now, the other thing I'm looking at
because I'm balancing market symmetry
600
00:39:24,105 --> 00:39:28,365
and we're seeing higher high in
the dollar, which is our intended
601
00:39:28,365 --> 00:39:30,735
outcome, we would expect to see
that that's what we're looking for.
602
00:39:30,735 --> 00:39:35,654
It's the favorable price delivery
that suits what we're trying
603
00:39:35,654 --> 00:39:37,035
to do in terms of our trade.
604
00:39:38,865 --> 00:39:43,575
The Euro has yet to make that
lower, low that's problematic.
605
00:39:44,145 --> 00:39:46,095
So we need to see and start.
606
00:39:46,875 --> 00:39:50,325
Seeing some, uh, downside
movement on Euro.
607
00:39:51,815 --> 00:39:56,085
You get back down below this low,
that's all part of trait management.
608
00:39:57,194 --> 00:40:02,115
When you first started trading, or when
you first started learning about trading
609
00:40:02,145 --> 00:40:05,714
or before you got involved in it, and you
heard everybody making all this money,
610
00:40:06,585 --> 00:40:09,645
he thought it was a, like a rock concert.
611
00:40:10,995 --> 00:40:14,865
You get into the charts and all these
trades take five minutes and you're done.
612
00:40:15,765 --> 00:40:17,355
This is what, this is what it's like.
613
00:40:18,285 --> 00:40:23,355
It's a whole lot of this type of stuff
you sit and you wait and submit the time.
614
00:40:25,515 --> 00:40:30,585
I remember as a new trader, I saw all the
things that were talked about and all the
615
00:40:30,585 --> 00:40:36,674
books I bought, I bought a lot of books
and you see the outcome of their examples.
616
00:40:37,214 --> 00:40:42,105
And you see the example that you see at
say a daily chart or a weekly chart, but
617
00:40:42,105 --> 00:40:45,944
you see the move and you're thinking,
wow, you know, if I did that same
618
00:40:45,944 --> 00:40:48,299
day, Yeah, I would be so profitable.
619
00:40:48,299 --> 00:40:50,160
I'd be so happy.
620
00:40:50,759 --> 00:40:53,669
But when you actually start doing it
and you get into the trade and you're
621
00:40:53,669 --> 00:40:55,049
like, why is this taken forever?
622
00:40:55,080 --> 00:40:59,640
Why is this, why is this not doing like
the books said, well, the books never
623
00:40:59,640 --> 00:41:00,839
said it's going to take five minutes.
624
00:41:01,620 --> 00:41:04,980
And that's why I tried to tell you that
you had to submit the time you gotta,
625
00:41:05,189 --> 00:41:07,919
you gotta let them a price action move.
626
00:41:08,160 --> 00:41:15,569
It has to take time for these things
out there that, uh, pan out as a nutria.
627
00:41:15,569 --> 00:41:19,319
That was one of the hardest
things for me to do is okay.
628
00:41:19,319 --> 00:41:22,379
I have a trade on and I have an objective.
629
00:41:23,430 --> 00:41:25,410
Why does this distinct hurry
up and give me my money.
630
00:41:25,919 --> 00:41:26,609
It's not your money.
631
00:41:27,600 --> 00:41:29,069
You got to take it from somebody else.
632
00:41:29,730 --> 00:41:32,370
And they're not in the line
that does give it to you freely.
633
00:41:35,730 --> 00:41:36,419
So you have to wait
634
00:41:39,810 --> 00:41:41,009
and watch the dollar index.
635
00:41:43,259 --> 00:41:44,819
We had this level already on the chart.
636
00:41:45,855 --> 00:41:48,105
Baking tray down into the
body of this candle here.
637
00:41:49,065 --> 00:41:49,365
No worries.
638
00:41:49,365 --> 00:41:49,965
Let's do this.
639
00:41:53,895 --> 00:41:55,215
It can trade down into that.
640
00:41:55,275 --> 00:41:56,175
And that's permissible.
641
00:41:56,865 --> 00:41:59,235
It's not the end of the move.
642
00:41:59,235 --> 00:42:00,685
It's not something to be concerned about.
643
00:42:00,705 --> 00:42:02,835
It's normal price delivery,
644
00:42:07,775 --> 00:42:09,535
minor little retracement
is the other thing.
645
00:42:09,545 --> 00:42:12,545
He used to scare me out of the trades
when I was trading bonds and I would
646
00:42:12,545 --> 00:42:16,625
be trading a SMP, the moves inside
the enter date and bond price action
647
00:42:16,715 --> 00:42:20,405
would sometimes be well erratic.
648
00:42:20,525 --> 00:42:26,585
It could be a lot more choppy because it
wasn't always in a trending market move.
649
00:42:27,035 --> 00:42:28,865
We had a lot of range
trading when I was trading.
650
00:42:30,185 --> 00:42:33,035
Then ultimately the big bull big
bull market took off, took off,
651
00:42:33,035 --> 00:42:36,035
and obviously everything became
a trending environment, but, uh,
652
00:42:36,095 --> 00:42:38,195
sometimes the retracements would be.
653
00:42:39,120 --> 00:42:40,170
Enough to scare me.
654
00:42:40,860 --> 00:42:44,640
And that was the hardest lesson for
me to get that to learn is if I was,
655
00:42:44,700 --> 00:42:50,040
for instance, if I was bullish, say
for matter of example, say this dollar
656
00:42:50,040 --> 00:42:55,980
index chart was the S and P and say, I
was long and say, I bought down here.
657
00:42:56,460 --> 00:42:56,880
Okay.
658
00:42:57,060 --> 00:43:02,460
Now I didn't know, or block in, uh,
um, institutional or flow back then.
659
00:43:02,730 --> 00:43:06,420
I just knew simple stuff from the books
and it was discovering a lot of things.
660
00:43:06,420 --> 00:43:09,779
And most of my work came from
learning from George Anjell and Larry
661
00:43:09,779 --> 00:43:12,330
Williams as it relates to the S and P.
662
00:43:12,630 --> 00:43:16,200
But when I would be long in here.
663
00:43:16,560 --> 00:43:16,890
Okay.
664
00:43:16,890 --> 00:43:19,950
And I have a little bit of a
movement in my favor, as soon as
665
00:43:19,950 --> 00:43:23,760
the market where retrace back down,
I'm scared, I'm bailing, I'm getting
666
00:43:23,760 --> 00:43:27,210
out and then knew sooner that I
got out of the trade and collapsed.
667
00:43:28,520 --> 00:43:31,439
And you see what the
market would explode up.
668
00:43:32,370 --> 00:43:37,200
I can't tell you how many times I've
put my foot through a monitor over that.
669
00:43:37,209 --> 00:43:38,390
I'm like, what is going on?
670
00:43:38,399 --> 00:43:39,270
Why am I doing this?
671
00:43:39,270 --> 00:43:40,049
I don't understand.
672
00:43:40,049 --> 00:43:43,950
And because I was, I was unaware
of the delivery of price.
673
00:43:43,990 --> 00:43:45,660
What is normal price action.
674
00:43:45,660 --> 00:43:46,560
What's not normal.
675
00:43:47,220 --> 00:43:52,140
And at the time and still to this day,
no, one's made a book that explains that.
676
00:43:52,200 --> 00:43:56,040
What I've just explained to you
here, um, folks that understand
677
00:43:56,040 --> 00:44:00,899
price, okay, would have that in their
books, they would teach it to you.
678
00:44:00,899 --> 00:44:01,890
They would show it to you.
679
00:44:02,490 --> 00:44:06,930
And that's why I know
2,600 plus books I've read.
680
00:44:07,350 --> 00:44:08,759
I never seen it.
681
00:44:08,910 --> 00:44:09,870
It's never there.
682
00:44:10,410 --> 00:44:16,919
And I used my own development as a, kind
of like a precursor to a future project.
683
00:44:17,609 --> 00:44:22,140
Um, I aspire to write a book,
but that was going to be like
684
00:44:22,140 --> 00:44:23,970
later on, like in my fifties.
685
00:44:24,660 --> 00:44:25,319
And it's like my.
686
00:44:26,925 --> 00:44:31,365
Last project for my life, but, uh, kind of
like one of the Chronicle, my whole life
687
00:44:31,875 --> 00:44:36,075
as a trader that went because I have a lot
of stories, tons of stories that I think
688
00:44:36,075 --> 00:44:46,005
that in the same, I guess the genre of
Jack Swagger's two volumes market wizards.
689
00:44:46,395 --> 00:44:50,055
Now, please don't assume that I'm trying
to classify myself as a market, whether
690
00:44:50,055 --> 00:44:54,525
it's, I'm not, I'm just saying I was
always interested in the storylines that
691
00:44:54,525 --> 00:44:56,595
they provided in the, in their interviews.
692
00:44:58,005 --> 00:45:01,155
And I think, you know, at the risk
of sounding, he gets us to go with my
693
00:45:01,155 --> 00:45:02,595
storylines better than any of them.
694
00:45:02,895 --> 00:45:06,855
Um, because I came from really
nobody, no one helps me.
695
00:45:06,915 --> 00:45:11,865
I didn't go through some kind
of, uh, you know, being raised
696
00:45:11,865 --> 00:45:13,785
by an affluent lifestyle family.
697
00:45:13,785 --> 00:45:16,725
And, you know, they pass this knowledge
on to me and, you know, I had to
698
00:45:16,725 --> 00:45:18,525
be, I've come up from the trenches.
699
00:45:18,555 --> 00:45:24,375
I mean, literally I came out from
nowhere and I think that, uh, you
700
00:45:24,375 --> 00:45:25,405
know, for someone that has never.
701
00:45:26,174 --> 00:45:28,515
Encountered my story.
702
00:45:29,024 --> 00:45:32,834
I mean, most people see me from the
arrogant ICT and, you know, messing
703
00:45:32,834 --> 00:45:35,254
with trolls on the internet and,
and doing all kinds of businesses
704
00:45:35,254 --> 00:45:36,555
like that entertaining myself.
705
00:45:37,125 --> 00:45:41,745
But if someone was introduced to the,
you know, the, the life that I've
706
00:45:41,745 --> 00:45:45,345
lived and the development as a trader,
I think it'd be an interesting read.
707
00:45:45,345 --> 00:45:48,015
I know I would be interested
in reading it because it's
708
00:45:48,225 --> 00:45:51,734
very, is a lot of stuff in it.
709
00:45:52,274 --> 00:45:56,115
There's a lot of stuff, but, uh,
the way I learned all these things,
710
00:45:56,504 --> 00:45:59,325
um, I think it's, what's unique.
711
00:45:59,384 --> 00:46:00,225
It's its incidence.
712
00:46:00,285 --> 00:46:05,685
It's very interesting, but some of
the pitfalls I had coming up as a
713
00:46:05,685 --> 00:46:11,475
trader, I still to this day are not
answered in anybody else's work.
714
00:46:12,495 --> 00:46:18,464
And that's what I have made a kind
of like a life's passion, you know,
715
00:46:18,524 --> 00:46:22,814
it's my life's work really to teach
you the things that I use to overcome.
716
00:46:23,745 --> 00:46:26,085
With plagues, everybody else as a trader.
717
00:46:26,685 --> 00:46:31,935
And I took the strength from the
things that work and I filtered
718
00:46:31,935 --> 00:46:36,194
or patched and filled in the voids
where the things that don't work.
719
00:46:36,915 --> 00:46:38,384
And I used my personal development.
720
00:46:38,745 --> 00:46:44,625
You know, I used that as a framework
and while I wasn't necessarily
721
00:46:44,625 --> 00:46:46,605
viewing myself as a Guinea pig.
722
00:46:47,115 --> 00:46:47,504
Okay.
723
00:46:47,535 --> 00:46:52,875
Or a lab rat, uh, essentially I, I was,
and didn't realize it until you really
724
00:46:52,875 --> 00:46:58,754
look at it in hindsight now, you know,
23, 24 years of doing this, I look
725
00:46:58,754 --> 00:47:03,795
back and I'm like, you know, many times
I'd be crying, literally tears upset,
726
00:47:03,825 --> 00:47:08,475
throwing up shaking in convulsions
because of the amount of money I lost.
727
00:47:08,685 --> 00:47:15,045
Um, it was, it was rough, but I can
look back now and say, I'm so glad
728
00:47:15,884 --> 00:47:18,375
that I learned from that stuff,
because it would have been really
729
00:47:18,375 --> 00:47:19,785
terrible to go through all of that.
730
00:47:21,455 --> 00:47:23,435
And never had learned anything from it.
731
00:47:23,944 --> 00:47:25,205
I mean, I could have been a statistic.
732
00:47:25,205 --> 00:47:29,015
I could have been out there, you know, in,
in a grave somewhere, literally integrate,
733
00:47:29,045 --> 00:47:32,134
not in the trader's grave where I'm no
longer trading, but I could literally have
734
00:47:32,134 --> 00:47:37,505
been dead because of all the stuff that I
endured, uh, put a lot of stress on myself
735
00:47:37,595 --> 00:47:41,165
and it's just, it's completely avoidable.
736
00:47:41,825 --> 00:47:46,775
If someone that knew how to do it
or avoided with simply to share
737
00:47:46,775 --> 00:47:51,305
that information and it, by itself
that doesn't teach you to be a
738
00:47:51,305 --> 00:47:55,415
millionaire, but it affords avoid
you going through needless suffering.
739
00:47:56,495 --> 00:48:01,145
I think more traders would stay
in the game longer if they learned
740
00:48:02,615 --> 00:48:06,185
at least half of the things I
teach you don't even, don't even
741
00:48:06,185 --> 00:48:07,055
worry about trying to make money.
742
00:48:07,325 --> 00:48:11,194
Don't worry about being profitable,
avoid the things that cause
743
00:48:11,944 --> 00:48:17,585
premature termination of your
trading adventure, because.
744
00:48:18,855 --> 00:48:22,935
If the statistics are accurate and I
believe they are, um, within 90 days,
745
00:48:22,935 --> 00:48:27,075
most people don't have their account
because they've done something okay.
746
00:48:27,525 --> 00:48:32,985
In this first three months that led
to emotional reactionary trading.
747
00:48:33,795 --> 00:48:37,005
If you get in and you have a hot,
hot hand and you get in and you
748
00:48:37,005 --> 00:48:41,265
start making money right away,
um, that trains you to do well.
749
00:48:42,165 --> 00:48:43,154
Expected all the time.
750
00:48:43,485 --> 00:48:48,285
And as soon as you don't get that response
or that profitability, your second
751
00:48:48,285 --> 00:48:51,795
month, you start pushing the envelope
because you wouldn't get that same rush.
752
00:48:52,005 --> 00:48:56,145
That feeling of I'm better than, uh, you
know, it was the previous month, you know,
753
00:48:56,145 --> 00:49:00,375
I need to outperform what I did last month
and that's the worst thing he could done.
754
00:49:00,795 --> 00:49:04,904
And that's why I teach having low
end, um, profit objectives, keeping
755
00:49:04,904 --> 00:49:07,065
it very sober-minded objective.
756
00:49:07,065 --> 00:49:09,735
Now that's the reason why there's
going to be a secondary, uh, my
757
00:49:09,735 --> 00:49:15,345
effects it, because I'm not trying to
advocate 60, 60% per month returns,
758
00:49:15,735 --> 00:49:17,384
that's competition level trading.
759
00:49:17,384 --> 00:49:20,145
That's what I do when I'm trying
to really push the envelope.
760
00:49:20,595 --> 00:49:22,695
And that's not how I'm going to deal with.
761
00:49:22,725 --> 00:49:26,415
When I trade next year in the Robbins,
uh, world cup, I'm actually going
762
00:49:26,415 --> 00:49:27,615
to push it even harder than that.
763
00:49:28,365 --> 00:49:32,415
So I'm going to be trying to
do like 75 to 80% returns on
764
00:49:32,424 --> 00:49:34,725
a month, month to month basis.
765
00:49:35,115 --> 00:49:38,055
I want to deliver something for
the Forex division and that, uh,
766
00:49:38,415 --> 00:49:41,174
trading contest that no one's
ever going to be able to run.
767
00:49:42,240 --> 00:49:46,380
Kind of like what Larry Williams did with
the futures where 11000% return in 1987.
768
00:49:47,940 --> 00:49:55,500
So what I'm saying here is if it
folks would spend the time, okay.
769
00:49:55,500 --> 00:50:00,690
Understanding what price is doing and
why it's doing and what I'm watching, I'm
770
00:50:00,690 --> 00:50:05,250
waiting to see if this Lowe's violated
on Euro then or out of the clear, okay.
771
00:50:06,120 --> 00:50:11,500
Lower, low retrade back to
this level is permissible.
772
00:50:12,250 --> 00:50:13,930
So now I have my reference points.
773
00:50:14,020 --> 00:50:18,160
I just want to make sure I keep that in
mind, not talk myself away from focus.
774
00:50:18,340 --> 00:50:23,560
So, and this is what I was telling earlier
in the example of sale was long on the
775
00:50:23,560 --> 00:50:26,470
S and P and I saw this a little bit re
retracement that would have scared me.
776
00:50:26,470 --> 00:50:28,030
And then all of a sudden, boom explodes.
777
00:50:28,330 --> 00:50:33,040
That was the repeating phenomenon as
a new trader for me, the retracements
778
00:50:33,040 --> 00:50:36,670
or the normal retracements and
price delivery, they would scare me.
779
00:50:36,730 --> 00:50:37,660
It would spook me out of the.
780
00:50:38,490 --> 00:50:44,790
And it was so frustrating because
many times, um, that would happen.
781
00:50:44,819 --> 00:50:51,120
I would have enormous positions on way
over leveraged hugely overleveraged,
782
00:50:51,779 --> 00:50:54,360
but I didn't have anybody to tell
me what I was doing was wrong.
783
00:50:54,779 --> 00:50:56,549
So I was flying by the
seat of my own pants.
784
00:50:56,549 --> 00:51:02,100
So here I am, I'm sitting in my
aunt's, uh, bedroom I'm I'm paying room
785
00:51:02,100 --> 00:51:03,839
board to stay there 50 hours a week.
786
00:51:04,080 --> 00:51:04,470
Okay.
787
00:51:04,470 --> 00:51:08,790
And back then, you know, the hours for
what I was earning was a lot of money and
788
00:51:10,080 --> 00:51:13,770
I'm quietly making money on my computer.
789
00:51:14,339 --> 00:51:16,830
And I'm putting all these huge trades on.
790
00:51:16,830 --> 00:51:18,930
I had no idea what I was
doing in terms of leverage.
791
00:51:18,930 --> 00:51:19,950
I had no idea what I was doing.
792
00:51:19,950 --> 00:51:23,880
Money management, all I was doing
is following bicycles and all I was
793
00:51:23,880 --> 00:51:29,970
caring about, and I would be long
three, four contracts as S and P.
794
00:51:30,390 --> 00:51:33,870
Now this is back when the S
and P was $500 per one for him.
795
00:51:34,800 --> 00:51:39,510
They, they end up splitting it in half
a years after I started and moved it to
796
00:51:39,510 --> 00:51:45,630
$250 per PIP or per hand, or either, or
on your basis points, it would be $250.
797
00:51:46,050 --> 00:51:49,530
When I was trading, it was
$500 per 100 basis points.
798
00:51:49,950 --> 00:51:55,680
So here I am, I'm trading you
a thousand dollars per handle.
799
00:51:56,010 --> 00:51:56,430
Okay.
800
00:51:56,460 --> 00:51:59,730
On an account that just barely
had the equity to hold that.
801
00:51:59,970 --> 00:52:00,390
Okay.
802
00:52:00,690 --> 00:52:02,970
You know, they have, you have
initial margin that you have to have
803
00:52:02,970 --> 00:52:04,320
before the trade can even be opened.
804
00:52:04,980 --> 00:52:07,230
Then you have maintenance
margin for futures trading.
805
00:52:07,740 --> 00:52:10,650
So I didn't even know what that was.
806
00:52:10,710 --> 00:52:11,630
I was putting the trade on.
807
00:52:11,670 --> 00:52:14,010
As long as it, let me take the
position and I'm doing it right.
808
00:52:14,010 --> 00:52:17,190
So I'm calling the broker and saying,
this is how many I want to buy.
809
00:52:17,190 --> 00:52:17,640
Okay.
810
00:52:17,760 --> 00:52:18,480
It is what it is.
811
00:52:18,540 --> 00:52:21,360
You know, Lynn Worldox H
desk, what's your pin number?
812
00:52:21,360 --> 00:52:22,080
Get the pin number.
813
00:52:22,350 --> 00:52:23,100
Well, how can I help you?
814
00:52:23,370 --> 00:52:26,820
I want to buy for June
S and P at the market.
815
00:52:26,940 --> 00:52:27,210
Okay.
816
00:52:27,210 --> 00:52:27,930
Hold for your field.
817
00:52:29,365 --> 00:52:29,785
Okay.
818
00:52:30,025 --> 00:52:35,365
Confirmation number, blah, blah, blah,
long June for S and P spoos done.
819
00:52:35,755 --> 00:52:36,265
And it's it.
820
00:52:36,535 --> 00:52:40,075
Now notice I didn't give you a stop-loss
you're right, because I didn't have one.
821
00:52:40,975 --> 00:52:43,435
I didn't have an objective in
anything I just wanted to be in.
822
00:52:43,825 --> 00:52:44,185
Okay.
823
00:52:44,185 --> 00:52:45,795
So now naturally think about it.
824
00:52:45,805 --> 00:52:48,675
I'm giving you this example,
say the dollar index with the
825
00:52:48,715 --> 00:52:51,775
S and P I'm long down here.
826
00:52:51,775 --> 00:52:53,545
And I see this a little tiny
little retracement here.
827
00:52:53,575 --> 00:52:58,645
I'm freaking out because I had what
I had a $1,200 profit a minute ago.
828
00:52:59,215 --> 00:53:02,785
Now I only have 150, $175 profit.
829
00:53:03,475 --> 00:53:04,375
I don't want to see it lose.
830
00:53:04,465 --> 00:53:05,425
I don't want to see a loser.
831
00:53:05,485 --> 00:53:06,865
I don't want to see it
come back against me.
832
00:53:07,195 --> 00:53:07,915
So what happens?
833
00:53:08,155 --> 00:53:08,815
I get scared.
834
00:53:08,815 --> 00:53:11,545
I call the broker up, go
through the whole process again.
835
00:53:11,545 --> 00:53:14,515
The whole time price is still ticking
down against me and retracement.
836
00:53:14,815 --> 00:53:17,155
So now I only have $115 profit.
837
00:53:17,425 --> 00:53:17,665
Okay.
838
00:53:17,665 --> 00:53:18,415
I want to get out, get out.
839
00:53:18,655 --> 00:53:19,165
Tell me now.
840
00:53:19,345 --> 00:53:19,585
Okay.
841
00:53:19,585 --> 00:53:20,215
Hold for your fill.
842
00:53:21,955 --> 00:53:24,775
Those 10 20 seconds is like
a lifetime on the phone.
843
00:53:24,775 --> 00:53:25,135
When you call you.
844
00:53:26,415 --> 00:53:28,064
Now again, we don't do that today.
845
00:53:28,064 --> 00:53:29,115
It's all clicking go.
846
00:53:29,595 --> 00:53:34,305
But back then we had to call our orders
in and you had to wait and God forbid
847
00:53:34,305 --> 00:53:37,665
that markets it's active and you gotta
wait for the desk to answer your phone.
848
00:53:38,145 --> 00:53:38,745
Oh man.
849
00:53:38,984 --> 00:53:39,765
It's panic city.
850
00:53:39,765 --> 00:53:41,145
You think you're having
a freak out session.
851
00:53:41,145 --> 00:53:44,504
Now when you're trading Forex, try having
to know that you can't get out of the
852
00:53:44,504 --> 00:53:46,335
market until the guy answers the phone.
853
00:53:47,145 --> 00:53:47,504
Okay.
854
00:53:47,504 --> 00:53:48,455
And believe me, yeah.
855
00:53:48,495 --> 00:53:49,185
Is unnerving.
856
00:53:50,085 --> 00:53:51,404
So here I am.
857
00:53:51,404 --> 00:53:55,004
I'm sitting here watching the retracements
own, these moves and I'm baling.
858
00:53:55,095 --> 00:53:56,564
I'm getting out, I'm collapsing them.
859
00:53:57,464 --> 00:54:00,044
And then all of a sudden you see
this, this is what takes place.
860
00:54:00,285 --> 00:54:04,455
Now imagine I'm a probably potentially
up if I was held on the position,
861
00:54:04,725 --> 00:54:10,125
several thousands of dollars and this was
happening almost every other day because
862
00:54:10,125 --> 00:54:14,475
I was trading every single day trading
every single day with the expectation
863
00:54:14,504 --> 00:54:18,105
of catching a big move every single day,
again, not knowing what I was doing.
864
00:54:19,064 --> 00:54:22,125
So one of the lessons I learned was.
865
00:54:23,265 --> 00:54:26,774
When I understood how price is
delivered, I immediately went
866
00:54:26,774 --> 00:54:28,335
back to all those storylines.
867
00:54:28,335 --> 00:54:32,085
Like I just showed you in this example,
talking about, uh, know reflectively.
868
00:54:33,404 --> 00:54:34,154
And I was like, you know what?
869
00:54:34,214 --> 00:54:36,285
That was the answer I needed back then.
870
00:54:36,645 --> 00:54:38,805
But no one was able to teach it to me.
871
00:54:39,464 --> 00:54:42,225
They don't put it in books because I
honestly, I don't believe they knew it.
872
00:54:42,915 --> 00:54:47,085
They don't understand it because the folks
that have worked in the industry, okay.
873
00:54:47,115 --> 00:54:49,904
They're not really supposed to talk
about, you're not supposed to do.
874
00:54:49,995 --> 00:54:51,345
You're not supposed to
talk about this stuff.
875
00:54:51,375 --> 00:54:51,944
You're really not.
876
00:54:52,365 --> 00:54:59,984
So I had to create a language and
some of it sometimes sounds comical.
877
00:55:00,705 --> 00:55:01,935
Nick, did you to swim?
878
00:55:02,645 --> 00:55:06,044
You know, when I dubbed a certain
protection, every state in the
879
00:55:06,044 --> 00:55:12,435
marketplace, um, Ari knew that that
was going to come with some certain
880
00:55:12,435 --> 00:55:16,964
measure of a backlash to those people
out there that think they're smart.
881
00:55:17,940 --> 00:55:19,800
They think that they're hot shots.
882
00:55:19,820 --> 00:55:23,820
They think that you, they learned, uh,
like all fate learned supply and demand.
883
00:55:23,820 --> 00:55:26,850
They've learned, uh,
moving average crossovers.
884
00:55:27,180 --> 00:55:31,320
Um, anything that's out there,
everyone gets brand loyal.
885
00:55:31,920 --> 00:55:38,670
And my group is obviously not an accept,
any exempt status to that either.
886
00:55:38,730 --> 00:55:43,470
You know, in fact, my following
is probably much more aggressive.
887
00:55:43,530 --> 00:55:44,160
They're radical.
888
00:55:44,940 --> 00:55:50,850
Uh, they're highly supportive of me
and, but I'm polarizing you either.
889
00:55:50,850 --> 00:55:51,780
You love me or you hate me.
890
00:55:51,780 --> 00:55:52,680
There's no in between.
891
00:55:53,250 --> 00:55:57,990
And that's all been part of the
carnival atmosphere I created on
892
00:55:57,990 --> 00:56:00,090
America online because it draws a crowd.
893
00:56:00,960 --> 00:56:03,960
Whether you like it or not, you'll
watch, it's like a train wreck.
894
00:56:03,990 --> 00:56:06,210
You don't really want to see it
happen, but you can't look away.
895
00:56:06,810 --> 00:56:11,660
So the folks that get enamored
by it and it's and go, well,
896
00:56:11,660 --> 00:56:12,630
this is something to this.
897
00:56:12,630 --> 00:56:13,440
Let me look into it.
898
00:56:14,460 --> 00:56:15,660
That's the person I want to know.
899
00:56:16,725 --> 00:56:22,035
That's who you are, you're here because
you saw something that made sense
900
00:56:22,035 --> 00:56:24,314
that you didn't understand before.
901
00:56:24,524 --> 00:56:25,845
And it resonated with you.
902
00:56:26,714 --> 00:56:29,895
That's that feeling I had when
I was learning all these things
903
00:56:30,194 --> 00:56:32,865
from institutional perspective,
it made perfect sense.
904
00:56:33,435 --> 00:56:36,855
The things that I endured in my
own trading, the things that I was
905
00:56:37,035 --> 00:56:39,825
taught, all of it meshed together.
906
00:56:39,855 --> 00:56:44,564
And it gave me a complete,
comprehensive understanding that
907
00:56:44,564 --> 00:56:45,794
otherwise would have never gotten.
908
00:56:47,865 --> 00:56:54,765
So when we look at price and we see, uh,
retracements or we see price reaching
909
00:56:54,765 --> 00:57:00,524
for a specific level, it's not random,
it's there because it it's normal.
910
00:57:02,415 --> 00:57:04,455
When you get in your car and you
put the key in the ignition, you
911
00:57:04,455 --> 00:57:06,404
turn it with the reasonable outcome.
912
00:57:07,035 --> 00:57:07,875
It should start up.
913
00:57:08,654 --> 00:57:12,285
If it doesn't, there's a problem, not
in the problem of your procedures.
914
00:57:13,859 --> 00:57:16,200
Know the protocol you're getting in a
car and putting the key in the ignition
915
00:57:16,200 --> 00:57:19,859
and turning it, expecting the outcome
of the initial, starting the vehicle up.
916
00:57:20,129 --> 00:57:20,970
That's expected.
917
00:57:21,120 --> 00:57:24,450
You don't need to change that procedure
if it doesn't start, meaning you
918
00:57:24,540 --> 00:57:25,589
to say, okay, well what's going on?
919
00:57:25,620 --> 00:57:27,270
Do I have a connection with my battery?
920
00:57:27,509 --> 00:57:28,410
Do I have gas?
921
00:57:29,399 --> 00:57:29,730
Okay.
922
00:57:29,759 --> 00:57:31,709
Then you have to there's
checks and balances and we'll
923
00:57:31,709 --> 00:57:32,970
check training the same way.
924
00:57:33,419 --> 00:57:36,810
We'd look for specific things
that start the idea or the trade.
925
00:57:37,049 --> 00:57:37,470
Okay.
926
00:57:37,830 --> 00:57:41,250
The key is knowing what it is
just like that key can't you
927
00:57:41,250 --> 00:57:42,240
can't start the engine up.
928
00:57:42,810 --> 00:57:44,069
Anyway, I put that key in the ignition.
929
00:57:44,100 --> 00:57:46,379
Well, you have to have the keys,
understanding why the price should
930
00:57:46,379 --> 00:57:47,850
even start going in the direction.
931
00:57:48,689 --> 00:57:50,609
Our understanding this is
there's buyers up here.
932
00:57:51,060 --> 00:57:53,220
So that's what starts this whole process.
933
00:57:53,220 --> 00:57:56,220
We believe the price is going to go up
there because there's willing buyers.
934
00:57:56,790 --> 00:58:01,290
So if that's the, that's the outcome
between that Terminus or where the
935
00:58:01,290 --> 00:58:06,330
outcome comes to completion and
where we're at now, what are the
936
00:58:06,330 --> 00:58:10,620
normal expectations between that
ending and where we are right now?
937
00:58:12,240 --> 00:58:16,920
And by having that framework, it gives
you reference does, okay, this is normal.
938
00:58:16,950 --> 00:58:18,660
It's normal to expect
these types of things.
939
00:58:18,690 --> 00:58:21,870
It's normal sometimes to get in your
car and the cold weather and put
940
00:58:21,870 --> 00:58:23,250
that key in the ignition and turn it.
941
00:58:23,460 --> 00:58:24,480
And it doesn't fire right up.
942
00:58:24,510 --> 00:58:26,610
It has to crank a couple of times
running around, running around, right.
943
00:58:26,640 --> 00:58:27,420
And then fire up.
944
00:58:27,750 --> 00:58:28,590
That's reasonable.
945
00:58:28,590 --> 00:58:28,920
Why?
946
00:58:28,920 --> 00:58:31,830
Because it's so cold
outside the engine's cold.
947
00:58:32,550 --> 00:58:33,750
It's a normal expectation.
948
00:58:34,020 --> 00:58:36,840
Now, if you give it to, no,
I'm going to say this ladies,
949
00:58:36,840 --> 00:58:37,950
please don't take this wrong.
950
00:58:38,220 --> 00:58:38,610
Okay.
951
00:58:39,030 --> 00:58:43,140
But my wife, when we first got together,
uh, we, we had a really cold winter
952
00:58:43,140 --> 00:58:45,630
in Maryland and really deep snow.
953
00:58:46,110 --> 00:58:49,440
And she went out to her car,
put the key in, like anybody
954
00:58:49,440 --> 00:58:50,880
else would put the key in.
955
00:58:51,420 --> 00:58:57,300
And at the time we owned a Pathfinder
and she got in the truck, turn the key.
956
00:58:57,960 --> 00:59:01,830
And it was like, ah, and re right
away because it didn't fire up.
957
00:59:01,830 --> 00:59:05,690
She turned the key off, ran back in the
house and says, Michael, look, I said,
958
00:59:05,780 --> 00:59:06,690
there's something wrong with the car.
959
00:59:06,750 --> 00:59:08,250
And I was like, what do you mean
something wrong with the car?
960
00:59:08,940 --> 00:59:09,660
Which is it?
961
00:59:09,660 --> 00:59:09,990
Won't stop.
962
00:59:11,175 --> 00:59:13,065
So I said, okay, well let me go
out here and take a look at it.
963
00:59:13,815 --> 00:59:15,105
She's watch, watch what
happens, let me do it.
964
00:59:15,495 --> 00:59:18,675
I'm like, okay, she gets in
and doesn't even give it a
965
00:59:18,675 --> 00:59:20,265
chance to fire up this earner.
966
00:59:20,305 --> 00:59:20,655
It's eight.
967
00:59:20,655 --> 00:59:21,105
It doesn't start.
968
00:59:21,105 --> 00:59:21,855
I said, what are you doing?
969
00:59:21,855 --> 00:59:22,785
You got to give it a chance.
970
00:59:23,385 --> 00:59:25,785
I thought we're trying to key in
that it cranked a couple of times
971
00:59:25,785 --> 00:59:27,105
and then boom, it started up.
972
00:59:27,705 --> 00:59:31,245
But because of her limited
experience dealing with it,
973
00:59:31,245 --> 00:59:34,815
because when we got together, you
know, she was only 19 years old.
974
00:59:35,055 --> 00:59:40,365
So we're talking about way back so long
and short of it is lack of experience.
975
00:59:40,935 --> 00:59:41,385
Okay.
976
00:59:41,415 --> 00:59:47,925
Even something as simple as that, it,
it gave me clarity when I understood
977
00:59:47,925 --> 00:59:51,495
the things that would be reasonable
in terms of weight prices, reacting.
978
00:59:52,305 --> 00:59:52,755
Okay.
979
00:59:53,025 --> 00:59:56,025
My wife, because she was young and
this first time she's ever dealt with
980
00:59:56,025 --> 01:00:00,705
it because she didn't really have a,
uh, a vehicle like that until we got
981
01:00:00,705 --> 01:00:05,775
together, you know, she was young and I
was recently divorced from my first wife.
982
01:00:07,380 --> 01:00:13,320
The long and short of it is I'm trying to
draw a parallel or an analogy on how, when
983
01:00:13,320 --> 01:00:15,300
I saw these things happening in price.
984
01:00:15,840 --> 01:00:19,710
And I S I attributed them to
things like we do every day.
985
01:00:19,740 --> 01:00:24,450
We take it, we just take it for
granted things that we normally do.
986
01:00:24,480 --> 01:00:30,030
There's a process, there's a procedure
to it, but because price has never
987
01:00:30,030 --> 01:00:35,970
been adequately taught in books or in
courses or anybody that you supposedly
988
01:00:36,030 --> 01:00:40,890
educates in the, in the realm of,
uh, teaching trading, uh, that big
989
01:00:40,920 --> 01:00:46,800
chasm or void in understanding or
teaching, that's a huge opportunity.
990
01:00:46,800 --> 01:00:50,960
And that's what I tapped into, um,
because I knew it was a void for me,
991
01:00:50,980 --> 01:00:55,470
my understanding as a trader, I didn't
understand why I was freaking out
992
01:00:55,620 --> 01:00:59,370
with one or two candle retracements
and then all of a sudden the market
993
01:00:59,370 --> 01:01:00,480
would explode in the direction.
994
01:01:00,480 --> 01:01:00,960
I thought it was on.
995
01:01:01,875 --> 01:01:07,095
That is demoralizing because if I
would just had a calf of the positions
996
01:01:07,665 --> 01:01:12,645
that I gave up like that, it would
have been much, much better for me in
997
01:01:12,645 --> 01:01:16,095
terms of where I'm at in life, because
it was, it would've been a lot more
998
01:01:16,095 --> 01:01:23,535
money, but the adverse feelings about
doing it over and over and over again,
999
01:01:23,955 --> 01:01:28,875
that's the part that, uh, that's the
part I wish I could have avoided.
1000
01:01:29,205 --> 01:01:33,315
And if I can do that with your,
your learning, to me, that's a
1001
01:01:33,315 --> 01:01:38,235
success because you know, it's
avoidable, it's 100% avoidable.
1002
01:01:38,384 --> 01:01:42,825
It's no reason for anybody to go out
and endure all the things I had to
1003
01:01:42,825 --> 01:01:48,165
go through, but you can't get there
without having a frame of reference.
1004
01:01:49,545 --> 01:01:50,925
And that's why I wish there was a book.
1005
01:01:51,825 --> 01:01:55,455
I wish I was a book or, or some other
source where I could have pointed
1006
01:01:55,455 --> 01:01:58,815
to everyone and say, Hey, look, go
here and check this out because this
1007
01:01:58,815 --> 01:01:59,865
is, this would have been, this is.
1008
01:02:00,825 --> 01:02:03,555
Which you've been looking
for, but it doesn't exist.
1009
01:02:04,575 --> 01:02:08,655
Now, again, over here,
watch the down candles.
1010
01:02:10,935 --> 01:02:12,765
We didn't run to the 155 level.
1011
01:02:12,945 --> 01:02:17,935
They left those intact candlestick guys.
1012
01:02:17,935 --> 01:02:25,195
They're going to see this as a 10 bar
when the liquidity still rests above 100
1013
01:02:25,195 --> 01:02:28,135
point 52 relative to the weekly chart.
1014
01:02:29,035 --> 01:02:33,205
And again, this is the reason why we
do not jam our stop loss down, because
1015
01:02:33,205 --> 01:02:36,925
if we put a load, our stop loss down
to break, even, or say just above these
1016
01:02:36,925 --> 01:02:41,575
highs over here now, all of a sudden we'd
be worrying, oh, it's gonna, it's gonna
1017
01:02:41,575 --> 01:02:46,735
hit my stop versus focusing on, okay,
well, this is reasonable expectation.
1018
01:02:47,155 --> 01:02:51,145
This is reasonable to expect that
the trays retrace back down here, it
1019
01:02:51,145 --> 01:02:55,975
changes and shifts your focus to what
you really should be focusing on.
1020
01:02:57,145 --> 01:02:58,255
There's two types of traders.
1021
01:03:00,134 --> 01:03:03,765
And you gotta, you gotta figure out which
one you are right now, and you gotta
1022
01:03:03,775 --> 01:03:05,805
figure out how to become the other one.
1023
01:03:05,805 --> 01:03:10,755
I'm going to refer to there, there
are traders that trade to make
1024
01:03:10,755 --> 01:03:21,835
money, and it's traders that trade
and fear losing 99% of traders
1025
01:03:21,835 --> 01:03:24,505
today are traders that fear losing.
1026
01:03:24,955 --> 01:03:26,845
So you're trading scared money.
1027
01:03:27,955 --> 01:03:32,365
Scared money is very hard to
make money with very, very hard.
1028
01:03:33,325 --> 01:03:38,875
And my example and analogy using
the S and P is a case study
1029
01:03:39,384 --> 01:03:41,485
that I have hundreds of those.
1030
01:03:41,725 --> 01:03:45,235
If we were to sit over top of old
journals, I could share, I can
1031
01:03:45,245 --> 01:03:48,625
show you where I literally was
crying over the journal thinking.
1032
01:03:49,590 --> 01:03:50,430
What is going on?
1033
01:03:50,430 --> 01:03:52,470
Why can't I like, can I get this?
1034
01:03:52,470 --> 01:03:54,420
Why can't I grasp this?
1035
01:03:54,420 --> 01:03:57,900
It's like, I see it happening, but
I allow the market to scare me.
1036
01:03:58,260 --> 01:04:02,160
And when it does, I get out and I
class a trade and I'm demoralized
1037
01:04:02,160 --> 01:04:06,240
by it because it would be so much
easier if I would just not do it.
1038
01:04:06,720 --> 01:04:11,640
Now, the answer to this would
be what I don't, I'm not asking.
1039
01:04:11,640 --> 01:04:13,200
So I don't wanna look
at anybody's questions.
1040
01:04:13,200 --> 01:04:15,480
As soon as I see something that's
going to divert my attention there.
1041
01:04:15,480 --> 01:04:18,090
And then we'll be talking
until eight 30 in the morning.
1042
01:04:18,510 --> 01:04:22,050
But what would, what do you
think the answer would have been
1043
01:04:22,200 --> 01:04:23,640
to, for me to overcome that?
1044
01:04:26,140 --> 01:04:29,020
The easiest thing is, is when I
put my trade on nowhere, I want to
1045
01:04:29,020 --> 01:04:35,170
get out of that, put my stop-loss
on, and then set a time where I
1046
01:04:35,170 --> 01:04:36,640
had to step away from the market.
1047
01:04:37,360 --> 01:04:40,940
Allow either the stock or the
objective to be hit, but allow.
1048
01:04:43,230 --> 01:04:46,200
When I started doing this, I did
it in increments at 30 minutes.
1049
01:04:46,470 --> 01:04:48,690
I said, okay, I'm in my trade to stop.
1050
01:04:48,750 --> 01:04:52,230
I put a stop on, I put a limit order
on and then I'll have to walk away.
1051
01:04:52,259 --> 01:04:56,670
And I had literally walk out of my aunt's
house for 30 minutes and I would walk
1052
01:04:56,670 --> 01:05:01,950
around the too cold, this ax that we lived
in to allow the market to do whatever
1053
01:05:01,950 --> 01:05:03,150
it was going to do for just 30 minutes.
1054
01:05:03,210 --> 01:05:05,790
And then I'd come back and look
at the chart and sometimes.
91689
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