All language subtitles for Lesson 5 Money Management (J) EN

Welcome back folks.

This is less than five oh
January, 2017, 19 mentorship.

I'm going to be discussing money
management in higher timeframe now.

Okay, we're going to be just
talking about a broad brush

perspective on this view of trading.

In other words, long-term analysis.

Um, we're going to assume for a moment
that, uh, everyone that's learning the

concepts for January is contemplating,
uh, the medium of long-term.

Or position trading.

Now that may not be your cup of tea, that
may not be the discipline or trading that

you are going to adopt as your career.

But I would advise you to at least work
in this timeframe a little while, at

least try to work it at least for a year.

And the reason why I say that is
because some of you may not be.

Uh, contemplating managed funds.

In other words, managing other
people's money or working for a

firm, maybe working for a prop firm.

And while you may not have a
large equity base to start with.

Um, it's not important now, but
what is important is growing your

understanding over a long period of time.

And when, I mean getting experience in the
marketplace, there's no better experience

than actually applying the things
you've practiced in a demo account with

positive results and then segwaying into.

Live setting where
you're using life funds.

It's not important that you have a big
account, uh, because what you're focusing

on is the control over draw down, keeping
it manageable, keeping it a tolerable.

What's a tolerable level of draw down.

I think I'd say about, uh, 15%
annually is, uh, a realistic objective.

Um, most folks would, uh, would start to
cringe over twenty-five percent or so.

Um, but if you can keep track,
you can control your draw down

to around 15% as a maximum.

That's absolutely amazing.

Uh, but twenties it's probably.

Okay.

And if he can still maintain a positive
outcome for the annual return, but.

Thinking about managed funds.

I want you to think about the possibility
that while you may be thinking about

only managing your own individual
assets and moving your, uh, your wealth

forward independently, apart from using
anybody else's money, uh, for some of

you that may not be the case, maybe you
came into this mentorship with every

expectation of learning to do that.

Very thing.

Uh, we, well, it starts here.

You have to have a.

Realistic expectation coming
in and knowing that you don't

need a whole lot of money.

If you can show a consistent equity curve,
that's improving very little draw down.

Very.

Um, infrequent, uh, erratic or
slow periods in your trading.

Uh, that is very good for, uh, for
investors when they see things like that.

Um, and it doesn't have to be high rates
of return, but having a steady increase of

over a calendar year that really attracts
investors, uh there's you have no idea

how much money is sitting out there.

Just waiting for people to say,
Hey, look, you know, I'll, I'll

take that money and control it.

And turn a profit.

Now you also don't need to use the entire
equity base that you start with, um,

many times $10,000 trading account, and
they assume that they have to maximize

every possible dollar in that account
to get a respectable rate of return.

And I don't teach that.

I actually have a very
conservative approach.

When I'm trading.

My view is I don't want to allocate
every possible dollar to the marketplace.

What I do is I limit my allocation
to only 30% of my total equity.

That may be shocking to some
of you, but it's the truth.

So let's say for instance, I have
a hundred thousand dollars trading

account, or let's say you have
a hypothetical $100,000 treat.

That means I'm going to be using
$30,000 to meet whatever margin

requirements or trade parameters
that I use for that trading.

In other words, if I'm going to be
doing a percentage basis of my equity,

and let's say for instance, that I'm
going to be using the standard in the

industry 2%, that means I'm going to
using 2% of 30,000, not 2% of 100,000.

And the reason why that's done
is because I'm never going to

have to worry about margin calls.

I'm never going to be over leveraged.

I'm never going to have a wild dips
in my equity, but I can still manage

to carve out a very nice equity
curve, even just using 30% of my.

Investors like to see that they like
to see that you're not 100% exposed.

They like to see that, you know, having,
uh, a good reserve of cash in the account.

That way you always have opportunities
that you can still take that if they're

really too good to pass on, you have
never extended yourself too much and

spread yourself too thin so that we always
have an opportunity to take something

that may otherwise not have been.

Uh, on your radar screen, if
something comes up in the charts,

something comes up as an opportunity.

You always have equity at your disposal
to take advantage of that, that move.

So what you're doing again is you're
determining your maximum risk exposure

in a percentage basis on 30% of your.

So you're really, really, really
drawn down in the terms of risk.

You're not maximizing the
risk for maximum return.

You're looking for a very low end
risk exposure with the expectation

that you're going to have consistently
pulling in percents of return that

are respectable over a calendar year.

Again, you're ideally set 1%.

As the most risk portrayed, that means
1% of 30% of your total equity base.

Okay.

So you have $10,000 in your
account and you're going to

be using 30% of your account.

That means your account trading
is going to be based on $3,000,

not $10,000 over leveraged, not
looking for the maximum return.

You're looking at only using 3000.

Free trading account to be meeting those
margin requirements for your trades.

1% of that is going to be $30.

So $30 is your total
maximum risk portrayed.

And I already know what some of
your thinking, Michael, I can't get

rich doing this and that's right.

You're not going to get rich right now.

You're not going to get
rich tomorrow or next week.

But you're not thinking
like that right now.

I want you to consider, and I'm not trying
to force you into managed funds, but

I'm trying to broaden your perspectives.

Okay.

On a lot of things and allow
yourself the opportunity to even

just think about the possibility.

And again, I personally know
from experience, it's not fun

to manage other people's money.

Uh, it, for me, it's very stressful.

Um, but for some of you, it
may be exactly what you do.

To get over that hump and you can
make a lot of money managing other

people's money rather quickly.

And then you can take that money and seed
your own investing, and then you can do

your own speculation, how you'd like to.

And if you want to take a little bit more
risk on, not that you should, but you

can do that in that medium, where you
get other people's money to pay you, fill

your account up with funds, not out of
your own pocket when you can independently

trade apart from other people's money.

And then, then you can close shop
on trading other people's money.

And this focus primarily on yourself,

and we targeted three to one
reward to risk or higher seven.

Now, again, some of you, or again,
totally completely turned off to actually

trading on the higher timeframes.

But for some of you, it's going
to be perfectly designed for you.

It's going to be your cup of tea.

If you will.

There's still three to one
set ups that are offered on

these hard timeframes charts.

And that's what you're
gonna be focusing on.

Now.

Having low risk high reward
permits very, very low accuracy.

You don't have to be
accurate all the time.

You do have to be patient
on this timeframe.

And the other benefit is, is low
risk allows equity for more setups

to what you're going to see more
possible trade setups by not

having all your money in one trade.

Okay.

Expectations.

I mean, you want to be focusing on
a handsome, annual percent return.

Now, what is this?

W w what's an annual
return that's respectable.

Um, I think it's 18% to 25% a
year, which is like an industry

standard for managed funds.

If you could do that every single year,
I can promise you, you will never have

a shortage of people that will want to
hand you money and manage their money.

Now as we get deeper into this mentorship,
obviously tell you how you can well up

other people's money and reach out to
other people through different mediums and

build business relationships with folks
that would want to do that type of thing.

Um, again, it's something that you'll
have to make the decision on your own.

Using hard timeframe analysis like this.

I want you to go forward from
this point on and contemplate

taking long-term trades.

Once we complete January's content.

I want you to think about operating
at least for the remainder of this

mentorship for next eight months or so.

You want to be, uh, you want to be focused
on doing that very thing, looking for hard

timeframe trades and letting them pan out.

Don't try to get in there and take
a little bit out of the marketplace

and then move to the sidelines.

And remember when you're managing
money with higher timeframe, trades

years, very little in terms of
frequency with higher timeframe setups.

So long-term setups form
very infrequently annually.

So there's not a whole lot
of trades throughout the year

on a hard timeframe charts.

And when you're trading this hard
timeframe, you're going to have to learn

to allow short-term draw downs in profits.

That means.

That while you're in these long-term
trades and they pan out because many times

you're going to see that there's going
to be retracements that you're going to

have to, whether you're gonna have to
sit through several days, maybe a week

or two, where the market has actually
given back some of your open profits.

Okay.

They're not realized profits
until you close the trade.

So by allowing that mindset early on
saying that, okay, I know that there's

going to be some give and take in these.

Sometimes over a period of time when
you start trading the larger, uh, this

give and take can be rather large.

It could be, you know, emotionally
charging, you seeing tens of thousands

of dollars coming in and out of your
account over the course of several weeks.

If you're not used to that actually makes,
uh, it makes it hard for you to think

about being objective about the trade.

So the reason why also talk about
only using 30% of your equity, getting

back to that, because I know some
of you probably snickered and said,

there's no way I'd be doing that,
but by having your account only

allocating 30% towards long-term trades.

That gives you equity in margin
to trade short term trades.

So that way, while we cannot in the
U S trade like a hedger, in other

words, we can't hedge our trades.

We can trade markets that are
closely correlated or inversely

correlated with the long-term
positions that we are holding.

And I'll give you an example.

For instance, if we're looking at the
dollar Japanese yen, if you were trading

this payer and say you happen to be.

Dollar again, if you're short position
long-term starts to have, and you can

learn, anticipate these types of things.

When it starts to have a retracement
against your short position, you're

going to give back some of that open
profit or paper profit before you

realize it and close it and move that
profit into your account that give

and take on your P and L is going
to be bothersome from some of you.

Most of you, if in fact.

So the way you can counteract that is if
you're going to be a long-term trader or

position trader, if you're short on dollar
yen, if there's an opportunity for seeing

a bounce in your short position on dollar
yen, you can actually go in and trade.

The Euro dollar is it's an inverse
related payer and you would do the

opposite, whatever you're seeing
retraced and the dollar yen you

would trade the opposite and your.

So if you're getting retracement
hire on a short position on dollar

yen, you can actually go short Euro
dollar, or maybe British pound dollar

and capitalize some more money in
the marketplace while your long-term

position is in somewhat of a draw.

And you're giving back some profits.

You can actually hedge that by trading
other payers that are inversely related.

So that's one way you can beat the
north American hedging rule, but

you just have to understand simple
intermarket analysis, we, which we

just covered in previous lesson.

So having an understanding that
there's going to be a give and take,

you're going to have to have that in
the forefront of your mind saying,

okay, either I'm going to you.

Shorter-term sewing trades or
short-term trades to allow myself to,

uh, compensate for the draw down in
open profits on my long-term trades.

And then when that retracement
takes shape and comes to

completion, when your long-term
trading, then it starts to resume.

You're back in here and
you've made more money.

Once you get back to that old equity
high and your longterm position.

So you're able to continuously
make more money and also cover

those drawdown periods on open
profits on your long-term trades.

Now stop loss orders are
not a measure of ability.

Now, obviously, you know, most of us
in this mentorship or predominantly.

And males have a tendency to like to
pull out the measuring stick and see

how they measure up against the next
guy or how they measure up against you.

Um, stop loss orders for whatever
reason has over the ages.

Okay.

Of, uh, technical analysis, it's become
a way of knowing how good you are.

And if you can trade with a 10 PIP
stop-loss, you must be elite, um,

that doesn't belong in any way,
shape or form in long-term trading.

Um, long-term trading.

It's not it's you don't limit your, your
trade idea or opportunity based on a set

number of pips like intraday trading.

I like to have about 35 maximum.

That's about to safe save number for me.

Um, 30 pips as a general rule of thumb,
but about 35 pips is about, uh, the number

one go-to number for me, uh, because
generally if it's a hundred PIP daily

range, average ADR, not that that everyone
is, or that it maintains 150 average.

A third of that would be 33%.

So I rounded the 35 pips and that gives
me a, a real good round number to go for.

Uh, but you can use what I've always
said before about 30 pips, but on

long-term trades, uh, 30 pips isn't,
isn't going to do it sometimes, especially

if you're only trading off, up and
keying off of the daily timeframe.

So if your daily chart age,
your executable time, Which

is what you'd be using.

If you're trading with a monthly and
weekly chart and you can't use intraday

charting because of your business
or your, your home life, doesn't

permit you to be up or in front of
the charts, or you just have a job.

I mean, it's this face at some of
you in here, they have jobs and

there's nothing wrong with that.

I came from a world where I had to go
to work too, but you have to understand

that your stops are going to have to be.

Proportionate to the timeframe
you're trading in, which leads

us to the next point here.

You know, when you're trading
a trade that has a setup that

requires a 200 PIP stop-loss on it.

That means you're risking 200 pips
for some of you that's mind-boggling,

there's no way that you're going
to permit yourself to risk 200

pips of price movement against you.

Because you're so used to an ingrained
in looking at those lower timeframes,

but just because it's a 200 PIP stop
loss on a set up on a daily timeframe,

assume for a moment that you're aiming
for a 600 PIP wind, that's still a

three to one reward to risk ratio.

There's nothing wrong with that.

You're still gearing the same
way you would, you know, to,

to be in line with a very low.

Uh, objective in terms of win rate, you
can still do very well with that gearing.

And obviously that's the minimum.

So you wouldn't be looking for higher
levels of reward to risk ratios

on these hard timeframe charts.

Okay.

And then another thing you want to think
about when you're managing your money

trading with these hard timeframes is.

Resist the impulse to move your stop
loss to break even, or even reducing

the risk on a lot higher timeframe.

Long-term position trading.

You're going to have to suppress that
desire to reduce risk right away.

Position trading requires
a great deal of patience.

And unfortunately there's
no way of forming that for

most of you, you either have.

Or you grind it out and you develop
it over a long period of time.

It just doesn't happen over night.

So if you don't have a whole lot of time
to develop patience, position trading

is probably not going to be for you.

Okay.

And that's one of those things
you just gonna have to live with.

Um, If you need to be in front of the
market's a little bit more and you're

trading on these lower timeframes, then
obviously we can move our stop-loss

sooner to break even and lock in profit on
these lower timeframes, higher timeframe.

Just forget that all together, because
you want to be waiting for the market

to really be moving a significant
measure of the pips before you even

consider moving that stop-loss from
the initial point at which you entered.

And you gonna have to learn to exit at
logical targets and look to reenter.

At a later time, we can take
positions off at logical areas of

resistance when we're in a long-term.

And instead of sitting through a
measure of down on our P and L, what we

would be doing is actually exiting the
position or maybe some of the position.

And we'll talk about that just
when we go into trade management,

we're actually go into specifics.

This teaching here is just to get
your mind thinking about some of

the things that's going to plague
you as a long-term position trader.

You know, if you're looking at a
long-term trade and you're bullish on,

for instance, the dollar in and you get
to a level where you would reasonably

in with high probability to expect some
resistance or some retracement, um,

you may take some of your position off.

You may take half your position off.

You may take three quarters, your position
off a third position off, and, you

know, uh, you know, one quarter of your,
uh, position off and allow that to be.

Being your account as a profit.

And then once it retraces back to a
level where it would be logically time

to see another move higher in your
longterm trade, then you can add back

that position or maybe a little bit more
than what you profited when you can't.

And he took off a quarter.

Maybe you'll put back on a third.

Maybe you'll put back on, um, a
little bit more than a quarter.

Okay.

Or you'll just put back that
original quarter you took.

For some partial profits, and then
you can add it back and you can get a

larger petition built on and see that
next leg price higher, where you would

make more money than you would've.

If you just would've kept the
original gearing and entry

point at the point of entry.

And finally long-term is not get
rich quick, but get rich steady.

So before you go into.

The next series of teachings and where
we actually go into a little more

detail about what it is you're actually
doing with long-term position trading.

Um, just know that you are not
going to see velocity for your money

trading, these higher timeframes.

It just isn't there.

Now, velocity is how fast you put your
money at work and it makes a profit for

you and you get it right back right away.

That's velocity.

That's why I like day trading because
I can compound my money very quickly.

Some of you cannot do that.

And don't feel that you can't
be profitable because you can't

do that discipline of trading.

So therefore you can't be profitable.

That's not true.

You can make very, very handsome
returns on just long-term position

trading, but it has to fit your psyche.

It has to fit your inner trader,
that person inside of you, that

makes who you are as a trader.

It has to.

Fit that, that criteria of the inner
person, because if it's at odds

with your thinking process, you
can't no matter how you slice it,

it's going to be at odds with you.

You're not going to be able
to sit through the trades.

You're going to force things because
you're impatiently waiting for

something to come to fruition and
it's just going to be a problem.

So the money management aspect
will become harder for you.

If you can't get yourself in alignment,
but everyone, a U and a mentorship

should be trying to apply long-term
position trading to some degree for the

remaining portion of this mentorship.

And you'll see how you don't
really need a whole lot of skill

in terms of entry technique.

Okay.

The entry technique you're
actually going to learn.

It was fairly simplistic and some of
you are practicing, probably start

using it a lot more frequent than I do.

If I wasn't long-term position trader.

But for a long-term position trading,
this it's the style of entry that I use.

And when we get into all the
entry techniques and concepts,

you'll learn it there.

But before we get into trade entry
and stop-loss orders and you know, how

much money should I risk and all that
business, you have to have some broad

brush ideas about money management.

And that was the core.

Point of this teaching.

Cause I want you to have their
mindset going into it with

yes, you're managing money.

No, it's not going to be
a whole lot of trades.

It's not going to allow you to
parlay that account quickly.

And it's pretty common sense, but some
of you you're so new and you're naive

to the fact that these timeframes
require a great deal of time.

And by having that submission to.

It will allow you to number one,
improve your overall analysis

because what you see on these hard
timeframes, that's what directs the

lower timeframe to move as they do.

But your objective, if you're going
to be a managed fund trader and you're

going to be trading other people's money.

OPM as they call it other people's
money that, uh, that career is very

lucrative, especially if you are
consistent with your rate of return.

And if you can consistently pull 20% or
25% every single year, and you're only

doing a handful of trades now think about.

We've already mentioned that
there's very little trades going

on on this higher timeframe.

So if you have every three months, there's
a, here's a potential trade that could

theoretically form every three months.

It doesn't work like that though.

Folks, I w I look personally for two
and if I'm lucky, three good position

trade setups a year, does that means
over the course of January to the end of

December, you're probably going to see.

To very, very simple, easy to
find long-term trade setups.

Maybe if you're lucky and you're really
dialed in and the market's really

working well, and it's very symmetrical.

You may see a third set up for the year.

Generally, rarely have I seen
four setups in, in a full January

to December where I've actually
been able to participate in it.

Unless you get into the degree where,
you know, you're able to see it better

than I, and that's the goal here.

Also, you want to be better than ICT and
also the market profile for that calendar

year is just so conducive for a, uh, for
move set up where you have every three

months or so you have, uh, a quarterly
shift that would be, uh, you know, that

that'd be great for you, but just know
going in the expectations should be,

it's not going to most likely be there.

Okay.

So we're focusing primarily on
two really good setups a year and

really milking those positions.

And if we're lucky, we'll get a third.

Okay.

And you're probably doing the math on
this and thinking, okay, well, if I just

did three to one and I'm risking 1%,
the best I can make is 3% on each one.

Okay, great.

Yes, I agree.

And if you get two, that means
you're only making 6%, right?

That's correct.

But you're also only risking 1%.

So that means if you have a setup,
that's moved into profitability.

Now you have new equity.

So the equity can be put to work as
well, that when new trade setups, and

just because you missed the lowest
possible buy for a longterm long

position, doesn't mean you can't get
into a position in that long-term trend.

With a long-term mindset and
still make more percent return.

And we'll talk about that when we get
into execution and trade management.

So don't think you're just going to
make well, I can only make about,

um, if there's only two a year and
the best I can make is 3% return.

That means I'm going to
make 6% for the year.

That's not attractive.

Michael.

That's only if you're taking one setup.

Now, if you take two.

And your maximum exposure is going to
be at 2% and you change the roles here.

Then obviously that gives you a little bit
more leeway, but it's not, it's not meant

for you to go in and try to maximize how
much you can earn what your goal is, is

how much can you manage in terms of draw
down, keeping it low and still carve out

a rate of return over the full county.

That's the goal.

That's the homework for the
rest of this mentorship.

You want to have at least one long-term
trade where you were able to execute

on and hold it through a long period
of time, at least three months.

So if you can do that, you'll have
what I believe, what I personally

believe that it takes to take, put
it to work where you can turn a

profit over a whole counter year.

Now, if you're going to
manage other people's.

Okay.

And you become better at your trading.

You understand what you're
doing and you're risking 2%

of 30% of the total equity.

If you make 2%, your total maximum
risk per trade, and you have several.

Opportunities throughout the year
where you can take the position, then

you shouldn't short-term trade or
swing, trade, any drawdown periods

you can maximize that you could very
easily get to that 18 to 20% rate

of return on equity for the year.

You're not going to be
doing a whole lot of trades.

You won't be forced to be
in front of the marketplace.

Every single trading day.

You're actually going to be there.

Free with your personal time.

That's the reason why large fund
managers are always on vacation.

They're always doing that because
they're not trading every single day.

The idea is that you want to put other
people's money at work for you, but

under the guise that you're doing it
there, you're doing them a favor rather.

But really what you're doing is, is
you're trying to do is very little as

possible because the more times you
take a trade with other people's money,

the more times you're exposing them to.

When you expose a client to risk
enough times, eventually that

risk will grow teeth and bite you.

Now you're going to feel it emotionally
and psychologically and monetarily

the client's going to feel it
monetarily, and they're going to be mad.

They're gonna be upset.

And especially if that drawdown continues
for a long period of time, it eats in

erosion into what their equity base
was and when they allowed it to you.

So if you can keep your
frequency low and focus on.

Hi, odds, potential setups and keep
the risk light and carve out that

rate of return 18 and 20% per year.

People will dog pile on you
throwing new money at you.

And as you have a management fee,
all the, uh, percentage bonuses

that you would establish and set
up when you make your perspectives

and you sit down with clients, all
of those things are in your favor.

The client would be making money
too, obviously, as a result.

But you're not working yourself too
hard to get that money for them.

And therefore, because it's going to
be a large degree of money, hopefully

a pooled account where you're having
other people pull money into it, not

just you and one client, you want to
work with a fund level that has ability

to bring other people's money in.

And when you do that, it builds
that equity base a lot larger.

So that way, if you're making
a 25% rate of return on say $10

million, now we're talking about.

A little bit more significant.

And then if you have a 2%
management fee on top of that,

you're getting 2% management
fee, regardless of what you make.

And then you get a performance
bonus that you would set up

all that goes into your pocket.

So yes, in your mind, you're probably
thinking I'm going to push it to the

limit and get a better performance
incentive in terms of paying myself.

That's not what your goal should be.

You should be having a
steady Eddy approach.

Only aiming for that
easy low-hanging fruit.

The clients will absolutely love you.

They're going to talk about
their, their, their fund manager.

You, every time they go out, they're all
going to asking, you know, who is he?

Can you, can you talk to him for me?

And new funds will always
find our way to you.

So your account that you manage
would continuously be growing and

allowing new funds to come in.

And that.

By default keeps pushing
your pay every single time.

This happens, your pay goes up.

So it's not about how much
money you have right now.

It's how you can manage money
right now and going forward.

And the goal is not to
see a lot of draw down.

Draw down, happens by way of a
lot of action, because no matter

what, it's a numbers game,
you can be good all day long.

Okay.

But you, if you play the game enough,
you get up to bat enough times.

You're going to strike.

When you do it with other people's
money and you're managing that

money, you do not want to have a big,
long drawn out, strike out period.

You don't want that.

They want to see consistency.

And if you're consistently infrequent
with risk exposure, but you're

showing rate of return, that's
handsome over the calendar year.

They will love you and love
in the form of managed funds.

Is.

Lots of money.

It comes by way of new funds.

They put more money into your
hands because they've seen

that you've proven yourself.

A lot of folks will test you out and
I'll put a small amount of money.

Okay, I'll see what you do with this.

And if you show consistency and
a rate of return, that's very

sobering and it's not over the top.

You're not trying to swing for
the fences managing this money.

Okay.

Well, invite in by default other money
to come in by either the client you

already have or clients that you.

And by their word of mouth,
because they will invariably talk

about what you're doing for them.

New money is very talkative.

It likes to chatter.

So when it talks to other potential
clients, they by default will reach

out to you and you will see your,
your fund management business.

And that just puts more
money in your pocket.

And again, nothing changes just
because there's more money coming

in and you're managing you.

Don't want to change the idea of
what you do about your trading.

You're not trying to impress anyone.

You've already made the impression
that this is the rate of return.

You're aiming for.

There's no guarantee you're
going to get it, but are they

going to be mad if you made 16%?

No way.

They're not going to complain about that.

If they made 16% on their own.

And they had very little period of
drawdown where they didn't have any real

exposure to risk, but they had 16% rate
of return, 16% return on $10 million.

It's respectable.

You can't find that rate of return
anywhere in the marketplace.

Right now.

They don't get it in CDs.

They don't get it inequities.

You're not getting it in, you know,
money markets or anything like that.

So what they're doing is
they're allowing you to work

for them by managing that money.

Well in their eyes, you're
working really hard.

And when you're managing money,
you don't want to be working hard.

You want to be working smart and
smart means you're not doing a whole

lot of work to make that money.

You only want to put it at
risk when it's very favorable.

And you'll see when we get into the
execution stage and the management stage

of long-term trading, you'll see this.

It takes very little to do very well on
these hard timeframes until next time

I wish you good luck and good trading.