Original subtitles

right or wrong time to do this you know it's going to depend

third phase which is kind of pure back testing. So, this is

refinements to your plan and your overall edge you before

help you go through your data and just put those extra

remaining areas in your approach you know and I can

refine it first before you start trying to execute it in

essentially so you're just trying to kind of practice in

before you really have a good understanding of of your plan

of already want to have a plan that you are very happy and

of you executing your plan and just getting more experience

picking up on before. And then finally you'll be ready for the

data to look for tweaks and improvements to your plan if

confident in and now you're kind of using back testing just

things better or try and you know learn any things or spot

why we do this last is this stage can be quite hard. So,

as I've done my trading day for the day. At the end of the day

at you know the end of the trading week you'll go back

potentially avoided any losses you know things like that now I

way to manage those trades and maybe how could you could have

capitalized on that potentially you know and what was the best

testing is really good for testing your actual skill set

how you can perform each of these steps so you will develop

or you know a month's worth of markups before you start to try

those three stages you will feel comfortable to start demo

that makes sense. Um so when you are back testing you kind

actually had enough time to to really test your plan and

to practice executing it kind of without risk money

strategy and ideally have a very solid and refined trading

proven with your case studies and forward testing with your

you need to have an extremely good understanding of your

daily and weekly markups. So in my opinion you know back

time and then you will slowly play it forward so you are

live market then this will also be you know a really good stage

training. Okay so that's essentially the outline of the

course of the next few lessons we're going to look at exactly

next phase of your journey, the testing phase. So over the

and cover what you're trying to do and you know before you've

guideline I would say that you need at least 20 case studies

that simulated environment right now at some point during

where you are looking at live price action and in a way

essentially where you will replay price back to a certain

or or the full trading day or if you're a swing trader maybe

through that day or that week's price action and again you will

understand you know why did price move the way that it did

ones that just end up, you know, fading away with time.

and it very likely will not be effective when you are first

start forward testing now forward testing is essentially

any patterns that you know potentially I haven't been

don't bother executing the task at hand at all but on the flip

fact actually have a D edge and of course you will be refining

Um I I really think it's the best way to kind of build that

and you're essentially going to be doing this for kind of the

effectively by making those observations every single day.

sixth sense of anticipating price moves before they happen

or even remove from your plan and you're just going to

you will write up a full trade recap so I could trade review

personally find this way to be an extremely effective way of

just jumping into the deep end with pure bat testing straight

the trade played out see the different ways that you could

see how you could've you know how could you have traded that

as if you had actually taken and executed that trade.

plan and to quite quickly see, you know, maybe any rules that

the chart on on all of the relevant time frames and then

you're sort of trading it but not live because you're just

away because this can be extremely hard and overwhelming

your plan as you are going along so you'll be ready to

going to look for your entry model you're going to see how

you can whack on your risk reward tool to see how the

plan at this point that you, you know, you really understand

a really solid trade plan and develop that extreme confidence

it's too easy, then we're in the tail on the left-hand side

can essentially just reengineer and deconstruct that move to

progression if you kind of dive in trying to trade it too early

going to look on the chart of the pair that you trade

right-hand side and it will start to feel overwhelming and

good intentions in the world to do something but if it's just

with it rather than necessarily you know collecting hardcore

straight away are building a collection of examples where

a challenge but only if it within an optimal zone of

you're starting to prove to yourself that your plan does in

and trade it because I just think you can just end up

are just enough victories to keep you motivated but it's

your equal. As the game progresses, you win a few

to consider any one-on-one coaching sessions just if you

and to quickly get experience with your strategy and your

Anywhere on that curve that is outside of that worry zone is

Basically, this is just a really effective way to test

if you're looking at the four hour chart you're going to

then the anxiety will just become too great and again, we

points and you lose a few. You have a good chance of winning

have written down you've got in your plan it doesn't actually

manageable difficulty. Why is that? Well, the Goldilocks rule

obviously and you would start looking at the higher time

they entail now. So the first stage is building out your case

right because you're going to see all of the price action and

need adjusting or or or even rules that you need to add into

abilities. Not too hard, not too easy but just right. If

trading alongside your testing there isn't really any sort of

feel like you need some help correcting any you know

have managed it with the benefit of perfect hindside

I've split up the testing phase into three separate stages or

knocking your confidence and just slowing your overall

you're then ready to start the next phase of tackling live

highs right and then you will dig into that specific high

frames you'd identify you know a key area or a turning point

start looking at all of those four hour higher lows or lower

time frame move but obviously on the lower time frames so you

this before but its application to trading is just as

strategy. You need to be performing a task where there

remember? Well, we are unconsciously competent.

obviously trading historical price action. Now, the reason

outlier, then repetition is your friend. Amateurs assume

it and you believe that it has an edge because you've already

of the level of difficulty. So that way you know you're not

trying to simulate a live market environment but

lessons but just to give you a very brief overview of what

exercises if you will that are pretty much laid in the order

essentially failure. We need to make sure that we are operating

of that when you're walking down the road, You just do it.

for you and you'll obviously well hopefully he'd win every

until they get it right but professionals practice until

new plant. Now as you've probably seen I'm going to go

to keep working hard. To improve on and get better at it

that day and and more so you know how could you have

that match is just going to be way too difficult for you.

still difficult enough where you are making enough mistakes

doesn't just think about any of this, he just runs. So, the

Everyone starts weak but mastery comes from putting in

difficulty and it's a perfect example of the Goldilocks rule.

Williams you will probably quickly lose motivation because

And that is what the fourth stage of competence is,

will fail to execute the task at hand. The human brain loves

you? You don't think about bending your knee, placing your

You're probably not going to be able to even return their

too hard or overwhelming for you, eventually you're going to

professional tennis player like I know Roger Federer or Serena

this point you're kind of just sense checking that what you

rest of your careers. I still do it every day. Um you know as

they cannot get it wrong. Now I'm sure some of you may heard

serve. Now Consider playing tennis against someone who is

get bored really quickly right? It's going to be way too easy

gaining experience so rapidly improving your understanding of

on each individual trader but kind of as a rough kind of

tasks that are right on the edge of their current

things that you can't skip. So if you want to become an

daily routine? How do we stay motivated to do it so it

explicitly true. So if we know it's important and if we know

just annotate and mark up the chart trust to really

testing a regular habit? How do we incorporate it into our

and again over a large sample size of trades because that's

benefit of hindsight too so say at the end of a trading session

trades paid out etcetera but you can also do this with the

it's going to rapidly improve our trading, how can we make

automatic, and unquestionable. Your goal is to achieve the

you balance out, and you're not consciously thinking about any

when the majority of psychological errors will start

automatically. You know, you don't think about walking, do

think about anymore. We just almost make these decisions

fly based on visual inputs since the dawn of time. Now, by

difficulty. Now if you love tennis and let's say you try to

distractions fade away and you find yourself fully invested in

react instinctively to the visual price action in a live

foot out, swinging your opposite arm forward to help

this is when you discover the objective truth and this is

of years of evolution and we've been making calculations on the

This is the most powerful form of awareness. As this is the

play a serious match against a four year old you're going to

action. Mark it up and you'll just see how I could have done

market. Almost to the point where, you know, we don't even

I'll then recap it. Go through the go through the price

your strategy and just being able to reprise such an

knowledge that you carry within yourself. It is what you know

processing visual information. This is a process by millions

states that humans experience peak motivation when working on

them to the second level when you become convinced that what

of the graph and we just get bored and we switch off and we

ideas and you incorporate them into your training, they will

rather than work? You know, why is it that some people can

to achieve this is through extensive testing of your

findings is that the way to maintain motivation and to

become part of your body of knowledge. Instinctive,

Well, fortunately, scientists have been studying this

baseball, when the batter hits the ball, how does the fielder

strongest level of knowledge. The third level is a knowing.

fielder knows where and when to run by subconsciously

is when an idea is presented to you by someone else so someone

velocity, rate of progress and decrease in velocity but he

your plan is when you have put in the work to prove it to

know what to make of it all just yet but you now have a

personality but also your current schedule. So

where a price move was initiated from so for instance

you're just going to mark up and you're going to annotate

draft of a training plan that actually fits your unique

collect loads of these sort of case studies that you actually

allow you to get into trades so on the lower time frame you're

phase and if you have completed all of those steps then you

basic level of awareness so the second level is when you become

gone into that and manage that with your current trade plan so

applying each of the concepts that you have just learnt

maybe you agree maybe you disagree maybe you don't really

tells you something you evaluate it against your own

going to mark up the charts sort of as they print you know

studies and in pretty terms this is just where you're

opinions you might have mixed feelings about this information

starting out or in the early stages of you know testing a

through each of these steps in detail over the next few

least level one as you've gone through the course modules up

but only if you really try. So your focus narrows, all of the

what we embody here at Photon. So all of you will now be at

that you may have had to fill in any remaining gaps in your

to be true because you have experienced it first hand. And

in that Goldilock zone at all times when we are testing our

the task at hand. This is a challenge of just manageable

so you can reach the next level. You can have all of the

give up or just avoid it all together, right? So this is why

side to that, if it's too hard, then we're in the tail on the

question for a very long time and one of the consistent

point. But in contrast to that if you were to play a

are three basic levels of knowledge and the first level

achieve peak levels of desire is to work on tasks of just

stick with their habits? The most struggle to stay

motivated. So how do we design that pull us in rather than

doesn't get overwhelming and just end up becoming like a

boring chore? How do we make our processes feel like play

before finally starting to create and build out your first

knowledge. And of course also requested a chart feedback when

that they don't need to practice. Beginners practice

the reps. You cannot beat nature. There are just certain

experience and we prime our subconscious to be able to

into account the direction and speed of the ball, the

testing historical price action, this is how we gain the

curvature of fall, wind speed and direction, initial

know when and where to run? Because the fielder must take

to dissipate when you achieve that third stage of Now, in

and you have watched through all of the course content in

it successfully play out again and again and again and again

the 12 month road map that we set out at the very start of

yourself. That it does have a strong edge and you have seen

strategy. The only way that you will have extreme confidence in

acquired through practice and personal and the quickest way

third level of knowledge. A knowing that can only be

apply the concepts and then as you accept and you embody these

you have learned is true as you've started to practice and

in your own unique edge.

minimum of three times through to actually make sure that you

have given yourself and your subconscious the chance to

practiced the technical analysis exercises and compared

chronological order up until this module of course and you

have also watched the technical analysis module at least a

until this point. Consume the information and receive many

ideas that have been presented to you. Maybe you will move

convinced that what you have been told is true So now it's a

belief. A belief is stronger than an idea but it is not the

should now be ready to begin the testing phase because there

congratulations. You have now graduated from the building

them to the walk throughs and you have asked any questions

actually absorb as much of the information as possible. You

the course. So you should now hopefully join the community

I just want to very quickly bring your attention back to