All language subtitles for vid 13.2 EN

And fear losing 99% of traders
today are traders that fear losing.

So you're trading scared money.

Scared money is very hard to
make money with very, very hard.

And my example in analogy, using the.

There's a case study that
I have hundreds of those.

If we were to sit over top of old
journals, I could share, I can show

you where I literally was crying.

And you know, over the journal
thinking, you know, what is going on?

Why can't I, why can't I get this?

Why can't I grasp this?

It's like, I see it happening, but
I allow the market to scare me.

And when it does, I get out and I
class a trade and I'm demoralized

by it because it would be.

Easier if I would just not do
it now, the answer to this would

be what I don't, I'm not asking.

So I don't wanna look to anybody's
questioned as soon as I see something

that's going to divert my attention there.

And then we'll be talking
until eight 30 in the morning.

But what would, what do you
think the answer would have

been for me to overcome that?

The easiest thing is, is when I put my
trade on, know where I want to get out at,

put my stop-loss on and then set a time.

Where I had to step away from the
market, allow either the stock or the

objective to be hit, but allow some
time when I started doing this, I

did it in increments of 30 minutes.

That's okay.

I'm in my trade to stop.

I put a stop on, I put a limit order
on and then I'll have to walk away.

And I literally walk out of my
aunt's house for 30 minutes and

I would walk around to too cold.

This acts that we live in.

To allow the market to do whatever
it was going to do for 30 minutes.

And then we'll come back
and look at the chart.

And sometimes I'd be disgusted because it
would hit my stop or sometimes it would

be in my favorite, but I could see how
it would have retraced and stared me out.

But now I'm on the other side of
the expansion, so I'm okay with it.

And then I would walk away from the
market again for 30 minutes and I

would literally have a stopwatch
or my, or my hand on my wristwatch.

And it would count down 30 minutes.

And I'm telling you, it was like six.

It couldn't it couldn't, I couldn't
get past those 30 minutes fast enough.

And sometimes yes, I cheated.

I went back up there because
the anxiety was just too much.

I had to go back and look at
it, you know, where am I at?

Where am I at?

And invariably, sometimes I did
exactly that and I got out of

the market before I should have.

And then what happens?

The market explodes in my favor?

Well, it would have been in my
favorite, but I wasn't in on the

trade because I allowed short-term
volatility to scare me out of.

So the process of keeping a journal, the
process of logging those experiences.

Okay.

That helped me submit to staying
with a trade come hell or high water.

It's going to hit my stop, or
it's going to hit my objective.

You have to have that initial submission.

You got to just let it happen.

And honestly, there's going to be
times when the marketplace is going

to make that very hard for you.

It's going to be very lethargic.

And it's going to be times where it's
not even going to be a factor where

the market will, you know, when you
get in it'll scream immediately for

your profit objective and that's fun.

Those are those times
and trading that's fun.

It's amazing how it's a rush like,
wow, that was, that was such a

wonderful trait, but don't expect that.

And that's what, that was my expectation.

I expected the markets to do that
every single time I got in, you

know, if, if it was going to be
wrong, let me be wrong right away.

But if I'm right, pay me right
now, you know, pay me yesterday.

I should've already been paid.

The impatience factor
I had was ridiculous.

It was way out of normal expectation.

So, and that's why I'm not surprised
when I see new traders come to me

and they have these same, these seem
unrealistic expectations because I can

see all those hallmark characteristics
that I had as a trader that, you

know, until someone sits you down.

And says, Hey, look, you know, this
is not the way to be thinking, this

is not the way to expect price, to
be, uh, unfolding on your charts.

You're left to your own devices.

You don't, you don't
have any reference point.

So what are you going to
reference it on your last trade?

Most people don't have a track record
or consideration of what they've been

doing over the last 10 or 20 trades.

All you do is think about
what the last trade was.

The last trade said I was profitable.

The last trade says I was alluding to.

And the last trade I did this
or that, and it worked out.

So I'm going to try that again.

And as soon as you try that same
thing, you did the last trade,

which has no basis on why price is
going to be doing what it's doing.

And it doesn't start working.

What are you going to do?

Oh, I need to add something.

I need to tweak this.

Let me go in here and change my
stochastic settings because it

really didn't give me that oversold
condition I was really looking for.

But if I lower the settings, it'll
give me what I'm really looking for.

What are you doing?

I did this stupid stuff,
but think about it.

I was forcing, I wanted to buy,
so I'm going to find a way to

justify it with my indicators.

So I was starting, I started
with 14 periods to cut.

And then I lowered it down to a 10.

Then I said, well, you know,
uh, 10 really isn't oversold.

Um, I probably should set it down
to an eight period at the cask.

Then that way, then it's a, by
then the market will react to that.

What am I saying?

There?

I'm acting like this.

The cast is the remote control.

Now all of a sudden, because Michael
changed the setting on his, uh,

metastatic, uh, charting platform.

I'm going to set a period to a smaller
timeframe then as if he's going to.

That's how stupid I wasn't, again, I
had no idea what the hell I was doing.

No idea.

And here's the thing.

Sometimes I was rewarded
for that stupid thinking.

I thought that that's what
happened as a new trader.

I was thinking, that's what it was.

I figured it out.

They're using today.

They're using the five period stochastics.

And I was thinking that initially
I'm like, you know what?

They're just changing their
settings on their stochastics.

And we have to figure out what that
setting is going to be for them.

For the first hour and a half I'm changing
settings on stochastics, like a fricking

I had no idea what I was doing, but
I wanted at the time I was believing

that's exactly what was going on.

So believe me, I am not, I'm
not oblivious to, uh, looking at

things ass backwards because in the
beginning I was doing everything

you could have imagined that more.

And to arrive at where I'm at now
is nothing short of a miracle.

I'm just going to candidly
tell you, say right now openly.

Thank you Jesus.

For bringing me into my stupidity.

I think if, if I, if I could say like,
if I could give you like a table of

contents where the ideal trading book
and it's may end up being very close

to what book, I would probably write
my, when I get in my fifties and I got

about five years to go before I do it.

But when I'm no longer on the internet
and there's going to be a time when

that's going to happen, um, then I'll
probably sit down to pen and paper

and come up with a book and you'll
probably see it on Amazon and whatever.

But I think the ideal table of contents
of like a really good trading book should

be rich with don't do this when the market
does this, those types of, uh, topics

for a table of contents where a book.

Everybody writes a book with do this.

If this happens in the
marketplace, do this.

If the marketplace shows you this or
that, we're all focused on buying,

sell signals and look at the outcome.

It doesn't work.

We, as if it worked, all we had to do
is buy one particular book out there for

maybe two or three and it doesn't work.

And one of the biggest epiphanies
I had was I was laying in my.

Aunt's house in the bedroom.

Algebra.

I was renting from her and
I had a futon back then.

And this fricking things are
uncomfortable by the way.

I don't know why I bought it.

I thought it was cool with folds into
account or whatever about who held out.

I wasn't entertaining anybody.

I didn't have a life.

All I had was the market and I
was trading, but I'm laying on

this futon and laying in there
and looking at the ceiling.

I'm like, what, what am I doing?

What am I trying to accomplish?

Do I have.

Like a plan.

Like, do I have any
idea where I should be?

And the reason why I was thinking
this is cause I was watching an

infomercial by this guy, Don . Okay.

Don lebri and he used to be all
over the TV with ads and stuff.

Making money with tiny classified ads.

Okay.

And I bought his, his
thing for like 35 bucks.

And I was like, this is stupid.

I wasted 35 bucks for this, but
I ended up putting it to work and

I sold a little pamphlet called
uh, how the handicap horse racing.

And all I did was I went to the library.

And I looked up a horse racing.

I've never bet on horses.

I've never, I don't
even know the beginning.

I wouldn't even know how to do it.

Okay.

So I went to a local library in Essex,
Maryland, and I got a horse racing

book and I basically summarized that
and I put it into a little pamphlet.

It was like 30 pages.

Um, it was stapled together.

I had a Kinko's at the time, uh,
make all the copies for me and

a bit about, about 500 copies.

Right?

In our area in Baltimore, there's
a small little circular paper

called the, the city paper.

And I put a tiny little
classified ad in the back of this.

And you're probably thinking, what
the hell am I talking about this word?

This is how I, you know, this
is how I got to the point.

I had to have a business plan
because I didn't have one prior to

this, but I put a little classified
ad in the back of the city paper,

uh, selling this pamphlet for $19.

That literally cost me 17 cents.

And it all, it was just taking something
from a book I got from a library.

So a lot of people accuse me of doing
that with trading stuff, but I did

this with, with the handicapping thing.

So I put still pamphlet together
and I put the, uh, the ad in

the ad was something like this.

I said, uh, um, make extra money
betting on horses, tie, odds, outcome.

The all I dealt about was if you look at
the past track record of a specific horse.

Okay.

And all I did was take verbatim.

So I didn't really reinvent it.

I took verbatim what the guy that was
writing about horse racing in his system.

All I did was this talk about,
this is what this statistical

edge could do for you.

I didn't.

I said, this is what could happen.

Just like anybody else.

If you pick the right lottery
numbers, what's going to outcome, I'm

going to be, your you're gonna win.

The problem is what's
those numbers, right?

So I was surprised when I got like 1200
replies for this $19 little pamphlet.

And I'm like, what the hell I had to hurry
up and start stuffing all these envelopes.

And I hired my cousins that
needed help, help me do this.

So I was like, well, let me run the ad.

Yeah, I made almost a hundred thousand
dollars selling this little $19 a pamphlet

that only costs me less than a quarter
to make something also wait a minute.

I'm only doing this in the city.

In Baltimore so that I advertise it in the
avenue, which is a middle river circular.

Then I put it in the Baltimore sun.

Then I put it in the Dundalk Eagle.

Then I put it in the Aberdeen
Chronicle app at all, all these

different newspapers locally.

And I was making all kinds of
money, all kinds of money off of it.

And I'm thinking stuff, you knew
what if I sat down and I did the

same thing as a young man doing this.

What am I doing wrong in my trading?

Because I'm only looking
at what I'm taking.

One trade, I'm taking one contract
and I'm only doing one thing with it.

I'm only focusing on one thing.

The epiphany I had was if I'm looking
at the market and I think it's

going to go up and every time I make
money, I'm only taking one time.

I'm buying one S and P or I'm buying
one bond again, no something bond.

Cause I mean, I'm sorry buying.

Cause I didn't understand selling short.

So every time I traded, I
was always a perpetual bull.

I would never sell short ever.

So here I am.

I'm looking at this stuff and
I have a safe in my aunt's

house, in the room with me.

Okay.

It's got a hundred thousand
dollars cash that I've made off of

selling stuff in local newspapers.

So the guy Donald Prix,
he had this little VHS.

Uh, tape where, when you bought his stuff,
it was like, kind of like a motivational

type thing and being a young guy, that was
my first introduction to being inspired.

Okay.

Like a motivational psych type thing.

And he was like, you know, never
stop thinking about new ideas

to make money, something else.

Well, how could I do.

You know, I made money doing the
handicapping horse races pamphlet, and

I bought into his 900 number stuff.

And I made money off of 900 numbers.

They were not sex numbers.

They were all just a matter of fact, one
of them was a horoscope, a 900 number, and

the other one was, um, the sports hotline,
which really ended up becoming just the,

it was a reflection on what happened in
the scores, which I thought was a rip off.

So I.

I couldn't keep that one going,
but the one I actually made money

off of it was the horoscope.

It was unbelievable how much, I mean,
I was making thousands of dollars every

single month off of people buying,
you know, $2 and 50 cents a minute.

Listen to.

And it's what it was.

It was, I ain't, I don't
believe in horoscopes.

I think it's stupid nonsense, but it's,
I was amazed by how many people just in

the Baltimore area were buying into that.

It's ridiculous.

But they would sit on there for
10, 12, 15 minutes listening to it.

Like it doesn't give them
their life life's answers.

But I mean, I was gladly
taking the checks.

Don't get me wrong.

But as long as short of it
is, I started thinking of how

am I applying this stuff in.

You know, these side projects, what
can I do to apply that to my trading?

Because, I mean, I know when I'm right,
I make money, but how can I do it

where it makes sense in my trading?

How can I, how can I boost it?

Because the epiphany I had was
just like Donald pre teaches.

If you can find one ad that makes
you money, all you have to do is

put that ad in multiple newspapers.

Well, great.

I started thinking myself, okay,
well, how can I apply that to true.

If I'm going to buy one contract and I
make money, then if I made money on one

contract, how much sooner can I do it?

Where I start trading two contracts.

See, I didn't think about this until I
applied what I did in my other projects.

And I went back to the chapter in
Ken Roberts book that I bought.

That was my first introduction to trading.

It was commodity based and.

We're almost up at this level here.

So when we get to this level
here, I want to see expansion.

I want to say drive rural
aggressively through that.

So let me get myself prepared here.

And I'm talking to myself
right out of, okay.

When this trades above, if it does,
there's no guarantee it's going to

happen still, but if it goes above
100 point 55, I'm going to take off.

Three minis.

And then I'm gonna put the stop down to
breakeven and then I'll let the rest go.

So that way we know what we're doing,
I'll go back to my stories now.

But, uh, so I start thinking
myself, if I'm trading one

contract, you know, how, how far.

Do I have to go before
I can buy another one.

And I went back to, um, the Ken
Roberts chapter about pyramiding

and that's really the core.

And that's what made all his courses.

Um, so grandiose because, um,
all of his people that he gave.

And as far as testimonies, like,
okay, this is my top students

or whatever, he didn't even call
them his top students really.

But in a sense, that's what they were.

They were the ones that did
what I did with the $2,600.

You building it out, building
up in peer pyramiding.

It, um, it was potentially the worst thing
I could have ever done in my own trading,

but it also illustrated the fact that
if I can compound my results, I don't

need to do a lot, but still get a lot.

Of what I'm doing.

And that was the basis of how I
started building up my, uh, my

accounts and having more trade
size behind everything I was doing.

And when I started doing that very
quickly and exponentially my money

grew, and then I started applying
it to everything in my life.

You know, I started advertising
things in other newspapers.

And when you, when I bought
the thing for Donald pre.

It's a little, like I
said, the guy's dead now.

He ended up killing himself in
prison, cousin throat, but to

hear the young man speak, I mean,
he was very passionate about it.

Um, clearly you made a lot of money
doing it, and he was very braggadocious

about how much he was making like
150,000 hours a week, you know?

And his whole thing was I made
$150,000 a week at a one bedroom

apartment, yada, yada yada.

So here I was, you know, making
$17,000 a week in my aunt's bedroom

that I'm renting for 50 bucks.

Yeah.

And that was just the trading that
wasn't counting, all the things that

y'all just talked about, you know,
with 900 numbers with advertising,

the handicapping horse racing, uh,
pamphlet, um, it's I was at the time

I was going to buy vending machines.

That's what I, that was my niche
I was going to go into because

that's what I was doing for a job.

I was filling candy machines
and soda machines and coffee

machines and cold food machines.

So I think, well, I'm going to buy
a couple of these machines and bill.

That was mine.

That was my goal.

I'm taking myself to hell am I talking
about, you know, I was personally running

a route that made $4,500 a week gross.

And that's that time the
vending industry was 50% margin.

So whatever, if you made a dollar,
50% of that or 50 cents was yours.

So it had a pretty good decent profit
margin, but the problem is it's a very

cutthroat business and why the hell would
I be wanting to go out in the weather

myself and deal with all these things
when it's not even going to pay me.

And I was thinking myself, literally
I'm laying in the bed with my

girlfriend at the time was in November.

I can tell you it was a Thursday.

Uh, we had a huge snow storm
and I said, you know what?

I'm not even going into work anymore.

And my girlfriend looked at
me like, you know what I said?

Yeah.

And I told her, I said, uh, I'm
making so much money right now.

And of course, naturally he's
not believing this because

I've hid it from everyone.

I said, I'm not done.

I'm not doing it anymore.

I'm not going to do it anymore.

My car is buried in snow.

I said, ah, that's it.

And at the time we had pagers back then,
and, uh, my pager's going off at 9 1, 1.

It's my boss.

He's trying to get me to answer it.

He's like, are you coming in?

First of all, it's like three
and a half feet of snow outside

who the hell is going to go?

Who's.

No, one's going to work.

You can't move, but he's worried about
whether I'm going to come to work and feel

as cane and machines instead of machines.

I ain't coming in.

So finally, around 11 o'clock in
the morning, I call him back and

I was like, listen, Glen, I'm just
going to give you a heads up, man.

I'm not coming in today
and not coming back at all.

And he's like what I said.

Yeah.

And he goes, you can't quit.

I said, no, I did.

I quit.

I said, but here's the thing.

I know I'm doing the wrong
thing by doing it like this.

Okay.

But just keep my last paycheck.

I'm the only one.

And he's like what I said.

Yeah.

I'm not, it's nothing
against you personally.

You've been awesome, but I just
can't bring myself to do it anymore.

You know, I have my own thing going on
and I just don't want to do it anymore.

And he knew I was trading, but
not to the degree I was doing.

But, uh, admittedly, even though
I had made a lot of money, then I

was not prepared to quit working.

I was not prepared.

And as soon as I stopped
working, trading became really.

I mean really, really hard because I was
relaying the fact that if I don't make

money in the marketplace, I'm spending
my own money to live, not think about it.

Now, contrast that with you having a
job, the going to come every single

time you go to work, you'd put the time
in your exchange for time is repaid

with money that doesn't equate to.

The same outcome.

When you look at the charts, you gotta
be in the market doing these things.

You gotta be part of the marketplace.

If you're not, and you're not
doing it correctly, you're

not getting freaking paid.

You can't pay your, you
can't pay your bills.

You can't put gas in your gas tank,
you can't do any of these things.

Okay.

So you have to go back to thinking
like what I got to get a job.

And that's what I was thinking.

I'm like, you know, do I have to
go back to work for somebody else?

I don't want to do.

I don't want to do that.

I can't, I, my personality is once I
started making money in other things,

having a job didn't make any sense.

It was stupid.

Like, why the hell would I ever want
to go back to working for someone else?

Again, they tell me when I have
to do something and I have to

do it, or they don't pay me.

They tell me when I have to do it.

And when I can't do it
for, I don't get paid.

They tell me what days I
can be home with my family.

And if I don't submit to.

They don't pay me.

That's not me.

I don't, that's not me.

That's not for me.

I don't have that.

I don't have that anymore.

Once I was able to make money on my
own, that sense of liberation complete.

He can't put that into words.

So when I saw trading be profitable
for me, it was like unbelievable

sense of empowerment because literally
think about a lot of younger.

That are just now coming up, you
know, you're young twenties, you have

no real sense of, uh, understanding
about what goes on in the world.

You really are really naive.

Even if you think you're smart and
you've been trading, you made money.

You think you're smarter
than you really are.

Believe me.

I've been there.

The folks that have been trading for
a long time, I'm talking about folks

they're over their thirties, 35 or higher
can resonate with what I'm about to say.

You can't.

Appreciate how the technology
that's available to us today.

I mean, you literally can run
a multi-million dollar a year

business off of your iPhone with
no brick and mortar building, no

employees, no payroll, none of that.

You can do all that stuff
from your smartphone.

And I came up through the dinosaur
age, going into transitioning

into the technology age.

We're all being so blessed by.

The fact that you have this last bastion
of free enterprise in a form of trading.

There's no other business like this.

There literally is no other business like
this, where you can literally do it from

any place on the planet with no brick and
mortar, mortgage payments, no worrying

about whether your employees come to work.

You're it.

You're the CEO.

You're the chief financial officer.

You're the employee.

You call the shots your
schedule's made by you.

You trade.

When you want to trade, you don't trade.

Who cares?

It's completely and utterly up to you.

You're in complete control.

When you own a business, you are at.

You're at the mercy of whether
your employees are going

to come and do the work.

And if you operate a business
that requires a lot of employees,

you're really asking for it.

That means you got to build this idea
in your employee's eyes, that this is

a good company to work for otherwise.

What are they gonna do?

They're gonna look for the next good
company to work for when you're trading.

I don't have to worry about
who's showing up to work.

When I was placing these ads in
the newspapers, I didn't care

about who was coming to work.

I knew there was a
newspaper is going to be.

Maybe not that written by everyone,
but I knew that there would be

people doing the thing that I was
expecting to see as a normal outcome.

The procedure, the protocol
to process is the same.

You do this, expect that.

Well, when I started applying all
these things to trading and looking

at how, where I was making all
my losses or missing my biggest

opportunities, it came by way of
her using a journal and personal.

And some of you, newer
folks, younger people.

You're gonna look at this as
it's a waste of time, man.

And then just give me the next
trade and I know don't sweat.

It I'm balling.

No, no, no.

Um, um, I'm busy Domo.

I'm I'm grinding right now.

That's the thing everybody says.

Now I'm doing my grind
and get my grind on.

You need to be very organized and
actually keep good records about what

you endured and what you experienced,
because that's the real secrets.

That's the key because.

We can't, we can all create books and,
and, you know, I guess I'm teaching

series and in courses and stuff that
teach trading, but the missing components

is an, are your individual application
and what it means to you when you're

doing it, because the outcome is going
to be uniquely different for everyone.

And you as a trader you're
that person that's in the dry.

You're not going to appreciate what's
available and what your specific

trading model is until you do it.

Once you see what it's like doing
it, and it repeats itself, you

only need that one set up that
fits your personal personality.

The one set up that you can
see clearly on the chart.

And some of you are so new, you don't
even know what that would look like.

What, what is the one set up?

What would be the one set up that I like.

No, there's a few of them that
I'm going to teach, but the point

is, is I don't want you feeling.

You have to have any one over the other.

And that's why it's important
for me to be in the beginning.

They big, it's good for me to be vague in
the beginning, because I don't want to, to

draw an affinity to something prematurely
when a later pattern will be shown to you.

And it makes much more sense
because what'll happen.

Is this the worst thing that can happen
for you as a student and me as a man?

I teach one of three patterns.

And the first one I teach you, not
because of order of importance or

preference, but just simply because
this is the first one I'm going to teach

when you learn it, I don't want you
thinking I'm coming hell or high water.

I'm going to learn this.

And this is the one.

And then you waste a lot of time
and energy forcing that outcome.

When it potentially may be the third
pattern that you ended up learning.

We're going to be the second one.

Once you have all three of
them and you look at them, you

start looking at it in charts.

One will be very easy
for you to gravitate to.

It'll just be natural for you
to go to that one pattern.

And it makes sense for
you to trade that one.

And then you don't force the other two.

You gradually work into them and you may
never even use them, but one of them is

going to be your that's your backbone.

That's that's your model.

That's the one that you make money.

And when you see this outcome over and
over and over again, repeat in the charts.

Your confidence level
will go through the roof.

You'll have no problems taking the trade.

You'll know what the outcome should be.

And what's reasonable.

What's what's the reasonable
adverse price action for that

particular pattern or that.

That's what's lacking.

If you could create a book that
would give you topics like that,

like don't tell me when to buy.

I don't care about that.

Don't tell me when to sell.

That's not what I care about.

Tell me how I'm going to lose money.

Where's that?

Where's that seen in the chart.

Okay.

Tell me where I'm going
to be seeing something.

That's really not an opportunity.

That's the stuff that makes money
because you ended up keeping.

Making money and trading
goofballs and lucky people.

And I was one of them.

I started my whole career on that.

Just that very thing.

It was luck.

Now immediately as a young man, I would
have never attributed that as luck.

It was, it was skill baby.

I did it all on my own.

I worked my ass off for it, yada, yada,
yada, but it was luck as a mature man.

Looking back.

My initial success in trading
was 100% attributed to.

There was no skill involved at all.

Now, knowing that, that gives me a great
deal of objectivity about how I look

at the markets now, because I have a
frame of reference, how I looked at the

market then and how I look at the market.

Now, it also has a paradigm shift
from feeling I have to be right to

knowing that I don't have to be.

I don't have to be right.

I can be wrong and still be profitable.

That was a concept that would've
never been able to be communicated

to me as a young man, because as
a young man, think about men in

general, we don't want to be wrong.

The last thing we want to do is admit
we had done, we'd done something

wrong, especially to our spouse or a
girlfriend or our boss, because it does

what it shows weakness in our eyes.

It shows weakness.

No, when it shows us accountable.

That's the difference.

That's the paradigm shift.

So, because you're your own boss,
you're running this trading business.

You're the CFO.

You're the CEO.

You're the driver's seat.

You're the trade manager.

You're everything.

Okay.

If you're not responsible and
you're not accountable, who's going

to be, who's gonna do it for you.

I'm not, I can't, your
broker's not gonna help.

So you have to have these things in place.

When you're looking at your trading model,
they have to be outlined and written.

They have to be, this is
what I do when I do this.

And this is what I do if this happens.

And by having it written out in
a procedure, it's kind of like a

standing standard operating procedure.

When I was working in the,
uh, the food industry, when I

was managing, uh, the pizza.

The place had what was called an
SOP standard operating procedure.

So that way, Trey, uh, not traders, uh,
new trainees would come in and we would

show them, okay, this is what you do.

This is what you do as a normal
standard operating seizure.

That way, if you did anything
outside of that normal procedure,

then obviously that's the reason
that the root cause of the problem.

So that way you can go either
discipline that person.

You terminate them on the basis of
repeating outside the parameters of the

SOP or standard operating procedure.

So you need to create an SOP for
your trading model, you know,

on specific days of the week,
I do this and I don't do this.

And this time of day I do
this, but I do not do this.

And then inside that you refine even
further by saying, okay, once I do.

I can never do this.

Or if I do X, I will do this if
this happens, but I won't do this.

If that happens.

In other words, a whole
lot of if then a syntax.

So if you, if you know anything about
computer programming, that made a

lot of sense, but if you don't, it's
a simple matter of having a flow

chart and that's what it did for me.

I, I simplified my whole decision process.

Into a flowchart.

And I remember sitting up
there in my aunt's room.

And, uh, you wondering if I
would ever have any subjectivity

to all this because it's good.

As I thought I was, then every single
time I took a loss, I reflected on the

fact that is this all going to stop?

See, I know what that feels
like when you're asking me

this all the time, I get it.

I'm on every single day.

There's a, there's a guy or
two somewhere in variable.

He's going to email me and they may have
an email that has something to do with

something else entirely about trading.

But they'll always, they'll
always tag this in there.

I'm afraid this is going to stop working.

Why, why are you, why do you feel that?

Because I can tell you why I felt it.

I felt it when I was losing money.

So I know these people that
are asking they've lost.

You've lost money.

There's the only reason why you,
for you to ask that question is

because you possibly seen it work
once or twice for you already.

And now you're fearful that, Hey, my
golden goose is about to get cooked.

Is this, can you, can you
reassure me that this is going

to continuously make me money?

First of all, I can't guarantee
anybody's going to make any money.

I can guarantee you're going to have
an understanding about price action

that can't be found anywhere else.

That's the only thing I've ever promised.

The delivery of the content will
lead you to your acceptance, to the

fact that there's no way as long as
the markets are going to be trading.

There's no way this is going
to stop working because this

is how the market works.

That's like asking the
car to stop being a car.

And when you put the key in the
ignition, you turn it, it doesn't

suddenly turn into a horse and carriage.

It's going to remain being a car.

And that's a simple, stupid
analogy, but that's the same thing.

It's absurd.

For us to think that this is not
going to continue working because it's

exactly what the whole process is.

Casinos are not going to
start selling baked goods.

They're going to deal
with games of chance.

That's their business model.

Well, the banks, they deliver price.

That's their business model.

So don't think and worry about
whether or not it's just going

to continue working or not.

It is, it's absolutely on
to, but I'm never going to

adequately convince you of that.

Just would it be.

I'm not going to bet you that with
showing chart examples, you will submit

to that by you seeing these things
unfolding all the time, repeating every

single week, there's going to be this
epiphany that takes place on your own.

You'll say, you know what?

I don't ever worry about this.

Never working again
because I'm busy doing it.

I'm not worrying about it.

I mean, thinking about it with
your own job, because most of

you probably have your own job.

Do you go to work every single day.

Now some of you may be thinking this
because of downsizing or whatever, but,

uh, you go to work worrying about whether
you're going to have that job tomorrow.

No, most of you don't because
you grown complacent that as

long as I show up exchange my
time for money, I'll have my job.

I know my minimum expectation
and I'm going to do just that.

And sometimes if I can get away
with it, I'll do less than that.

You know exactly what I'm talking about
because I did the same, but in trading.

It's the same way.

Once you understand what you're doing
as a trader, you don't go in everyday.

Man, is my stuff going
to start working today?

Is this the day that everything
falls apart and technical analysis

and price action no longer works.

Now it becomes something
entirely different.

No, nobody does that.

That doesn't, that doesn't happen.

That's crazy thinking, but it's easy
to start thinking that way because

what this is like, uh, it is a curse.

Let me say it like that.

It's a beautiful, wonderful opportunity
for anyone, for any walk of life, any

culture, any financial background, any
starting capital size can turn this

into a very, very profitable business.

And the sky's the limit.

There's no limit on how much you can earn.

There's zero ceiling in earnings in this.

That's the blessing side.

The curse is there is a landmine in
front of everyone that starts doing this

business and they have to either navigate
through that on their own, or potentially

step on something and blow a limb off.

Okay.

And maybe.

Maybe come back to the point where they
can continue a little bit further into

that landmine of, of understanding.

And eventually, sometimes it's still blow
up and, and, and never make it there.

The, the curse is we're
all led to the belief.

The belief is that we can all do
this, but we can all do it with no

understanding, or we can all do this
with the same understanding that

comes by way of retail understanding.

And it's people like me
that come up out of that.

Okay that you hear about and you
aspire to be like, but I'm not

attributing my stuff to retail.

Um, I'm attributing everything I've
done successfully by doing 180 degrees

different from what retail's done and
what teaches, uh, retail minded traders.

So when I, when I'm on the internet and,
um, you know, ribbing other guys and such

or other educators I'm doing it because
I know I fell victim to that same stuff.

When I was younger, I believed everything.

I was buying everything
hook, line, and sinker.

I could, I would have given my left arm
for someone to be able to sit down with

me and explain what the commodity markets
were dealing on a day by day basis.

I literally, I literally would
have given everything I had.

Just for someone that I could learn
from, and it could tell me before it

happens, explain to me why the corn
market's going, where it's going.

You know, why is, uh, why it's live hogs?

And that's a, that's a market
and commodities by the way.

Um, well, it was now, uh, it's lean
hogs now, but the, uh, the point is,

is I needed, I needed to have that back
then and that would've avoided a lot.

Really just things that tore my
health up, that I still deal with

today, digestive issues and such.

But the point is is you, you have
a wonderful opportunity and I'm not

saying just for me, but for in general
terms, you know, the technology that's

available today makes learning so much
obtainable, um, so much more effective.

And accessible.

And you have literally libraries
worth of content in your smartphone

by accessing, accessing the internet.

Now, granted, there's a lot of
things on here that you shouldn't

be looking at, but by far and large,
I mean, you have no disadvantages.

Now you have none.

You have no disadvantage that myself and
people that have been doing years ago.

Okay.

You're you, you have no idea.

You're spoiled.

You don't even know how
good you got it today.

Even with those advantages, still
people are losing their ass and

they are not able to make money.

They're not able to do it because
they're still perpetuating these

ideas that, you know, it's so easy.

A caveman can do it, come in here
and put your money in, plunk it down.

And you know, you'll be
retired by the end of the week.

Don't worry about it, but you
know, booked a vacation now.

So there's no reason for you to feel.

Knowing that, uh, you know, you have
to do all your money making now because

the market's going to stop working.

That's that's the take away
from what I'm saying here.

Um, there's no reason for you
to feel like, uh, the, the

game is going to stop working.

It's very profitable for them.

So even if a large chunk of people.

Uh, even ear to my group was 20 times.

The size of it is.

And thank God it's not, um, it
still wouldn't even impact how the

markets trade because it's, you know,
like I said, look at what goes on.

I mean, I got 7,000 people that
follow me on my public Twitter.

Now some of them are robots.

I'm sure.

Cause I mean, it's just the way
Twitter is, but on that free profile,

I accept anybody that asks to re
you know, to follow me out of there.

7,000 people, only 850 people.

Bit the hook and joined the mentorship.

Why is that doubt?

Regret anger.

Oh, you're charging money now.

They immediately went to emotionalism.

Oh, look at this.

He's charging money.

Well, I told everybody that I
could literally put this stuff on

the front page of the USA today.

Run it for a whole
month, every single day.

And it would go, it
would just go unnoticed.

It would be.

Because the frame of reference
and your belief goes away and it's

challenged by your own thinking.

And your own thinking is
limited as a new trader.

You have no frame of reference.

You have zero frame of reference, just
like I had zero frame of reference.

I didn't know what is a
viable trading method.

I didn't understand what
trading with money management.

If I can afford to buy 20
contracts of Chicago board trade

of wheat in July, 1995, screw it.

I'm buying 20 contracts.

I'm doing it.

The initial margin says, I need
this much money to do that trade.

I have it in my account.

I'm calling my broker.

He doesn't care.

It only takes three and a half
cents movement against me.

Before I get wiped out,
he's taken a commission.

I need the same thing about as a broker.

You want to do 20 lots of 20 contracts.

Great.

Come on.

And I was paying a hundred
dollars a contract, right?

Now do the math on that.

Yeah.

You think you're paying a lot money
for fees and commissions today.

Every contract round turn that means
paying to get in and paying to get out.

It costs me $100 for each contract.

So please don't bitch and moan
about how much you gotta pay for

your, to your commissions today,
because that is, this is cheap.

This is cheap.

This is free money.

I was spending, I was spending a
lifetime worth of earnings inside

of a month with just my, and believe
me, Fox investments and Lynn Waldock.

They love me.

They love me.

And if you'd looked at how much I spent
in commissions, because of that, I mean,

if you would've just took half of that
away, I would've made a fortune doing.

I mean fees back then were very, very
big impact on our trading bottom line.

You know, I just realized I covered
so much and you're probably, you're

probably your head's probably spending
like what the hell this guy is going

from one thing to the next, but this
is what happens when you get inside my

head, you probably, you probably were
not prepared for what you're going to

encounter, but that's, this is what
you get with 20 plus years of doing it.

So many, so many experiences, so many
stories I can refer back to them.

And I guess this is better than,
uh, to sit here and Watson, this

chart, this paint like paint drawing.

I didn't want to see it had to drag it
on into one end, but apparently it looks

like it needs to do it before stabbed up.

And then at 155 level, watch
that a 2370 level cable.

I got to see what 2375 sell side
liquidity, wanting to see this candle

here, flip the green and drive through.

That'll give us some, some
momentum on the downside over here.

I'm actually going to take a portion off.

At 20 pips at this point here, if we get
below this low, it's not allowed in my

opinion, and through my, for my trade, I
don't want to see it consolidate anymore.

It gets below this low.

It needs to start expanding lower

the weekly high here, 100
point 52, it's looking for

expansion through on the upside.

We touched the bottom of that range.

I don't identify on the, on
the daily chart for the Euro.

The beginning of the video, uh,
Debbie began with a 1 0 6 87.

I was wanting to see a little
bit more pushed through.

And so far, we only went to 100 point
55, which is what we call the four.

But because we didn't see that full
drive-through and we're in a really,

really overbought condition, I'm going
to collapse the trade here and take full

profit on the next pass to 100 point 55

lower to stop down the two.

I don't want to see
anything snap up against me.

Hi folks.

I'm going to take

three minis off here and lower my stop.

So I'm locked in 10 pips and I leave
the rest to see what if it can sweep up.

100 point 55.

Okay.

Thanks.

That's a wrap.

Just stop when the balance was taken.

So yeah, there you go.

Very, very slow, slow, slow day,
100 point 55 level hit to the PIP.

Now you go for accountability or today.

My goal for the month is 24%.

I'm an 18.2 now.

So we got some time for it.

And then a month that is
going to be it for today.

I don't have any more
opinion about today's market.

Uh, it's already hit my objective
for today and already traded off.

So something to study, if you're going to
be in front of the shark and you have time

still watch the order blocks down here.

We mentioned earlier today.

So now that the focus is
now here, so 100 point.

Or thereabouts, uh, we should be able
to see some support there and it may

want to run one more time above 10.

I'm sorry.

100 point 55.

I don't have a trade from here.

We're way, way, way too extended.

Um, this was the weekly objective.

Let's go out to a weekly chart
again, just for completeness

and then our closest session.

So that's this high back here.

I came in at 100 point 53.

Today's high 100 point 55.

So didn't see any follow
through right away.

So you had to wait and see if we'll
get another opportunity to see if we

make a run cable that it's order block.

And here I see a little bit
of a push higher dollar CAD.

I wouldn't touch it today.

We got news out 10 30, um,
critical inventories again.

And until I talk to you
again, good luck portray.