2022 ICT Mentorship Episode 13

0:03all right folks welcome back

0:05this is an

0:07extra lesson

0:09but we'll call it episode 13 nonetheless

0:12so last night

0:14i gave a lesson on market structure for

0:16precision technicians

0:18and advanced price action theory

0:21in action is going to be this lesson

0:23here

0:24so it's one thing to talk about it

0:26and provide

0:28the

0:29basis as to what i'm doing when i'm

0:31doing these executions

0:32when i'm running these demo accounts up

0:34really fast you know what am i doing how

0:36am i doing it i got a lot of questions

0:39as to how

0:40i ran the ten thousand dollar account up

0:42to which was at

0:43256 000 this morning but it quickly got

0:47to a point where

0:49it no longer can be

0:52appreciated

0:53from students perspective

0:55it's too fast of growth and the

0:58acceleration just makes it

1:01well you have new you have no connection

1:03to it if you don't know how to do this

1:05and you're new

1:06you start seeing

1:08velocity

1:09in equity increasing even though it's a

1:11demo it does not matter the same

1:13principles are applied whether you're

1:15trading with a live account or if you're

1:16trading with a

1:18demo account and you're learning

1:20and i want to take you into

1:23what it is i do

1:25and

1:26how i'm able to

1:28run the equity up quick

1:31what is the mindset behind what is i'm

1:33doing but before i get into it let me

1:35remind you what i stated last night in

1:36the video

1:39because of the heightened

1:41volatility because of the uncertainty

1:44and the

1:46likelihood of

1:48price action moves that would be

1:51unexpected even for me

1:54because it's already delivered what i

1:55wanted to see happen anyway and i'm

1:57technically bearish

1:59on equities

2:02i don't feel confident

2:05or willing to risk after being

2:06profitable in live trading

2:10going short

2:11this market

2:13making my february gain

2:15i don't want to go in

2:17and risk that because it's already

2:18arrived down below

2:20these lows so there's an objective i

2:22look for for the week

2:24there's an objective i try to aim for

2:26for the day

2:27and there's something i'm aiming for for

2:30a goal

2:31for the month

2:33so truth be told

2:36the account that i'm showing with td

2:38ameritrade i'm trying to illustrate

2:41in my best

2:45ability to pantomime how it would likely

2:48be for a new student

2:50if they were to try to do

2:53live trading with a model

2:56and aiming for 20 per month now some of

2:58you are going to think well 20 isn't a

3:00lot of money

3:01you know it's not a lot of money well 20

3:04isn't money

3:05okay it's a percentage so i don't care

3:07if you start with one dollar

3:09if you make 20

3:11consistently

3:12the compounding effects of that

3:15is astonishing

3:17now

3:18is it my belief that

3:21my students can consistently hit

3:2320 every single month

3:26i would never go out on a limb and say

3:27that

3:29i might not hit 20 one of the months but

3:33that is a goal that i'm aiming for

3:36and if you're a new developing student

3:39they have

3:40worked very hard to find and refine your

3:42own model with the things i'm teaching

3:44and you have a trading plan that is well

3:47documented you know what it is you're

3:48doing when you're not going to do

3:49something you have a complete

3:52understanding of what it is that's going

3:54to allow you to engage or not engage in

3:56price

3:59then how to manage that risk

4:01all those factors involved and you've

4:03been consistent with a demo account for

4:04six months

4:06then and only then

4:08would i not necessarily that you need to

4:10do this but i

4:12would then only at that time consider

4:16maybe

4:17going into life fun trading

4:19but i don't ever tell my students i

4:21never answer an email when they say

4:23do you think i'm really going to lie i

4:25don't answer those questions i say i

4:27don't know you tell me

4:29or generally i ignore those emails

4:31because there is never going to be a

4:32record of me saying

4:34i think you're ready to go into life on

4:35trading and then when they blow their

4:37account

4:38who are they going to blame

4:40naturally the human is going to say

4:42well it wasn't my fault there was a guy

4:44that told me i should do it

4:46he told me to jump off the bridge

4:49so

4:50i never put myself in that situation

4:52okay and i don't think any mentor or

4:54educator worth their salt would ever

4:57tell you

4:58to go out and risk life money because

5:02experience has taught me that i got into

5:05live trading way too fast

5:08way way too fast in 1992 that was the

5:10worst thing i could have done

5:12for my development was rush to get into

5:15real money trading and i had no idea

5:16what i was doing

5:18i tricked myself into believing it was

5:19so easy reading one book

5:22no real back testing whatsoever

5:25and i was like well you know i can see

5:26this one two three top and one two three

5:28bottom idea you can see it

5:31yeah i saw it one two three i was gone

5:34in my first trade 50 history goodbye

5:38close the account send me my money i was

5:40afraid

5:41but

5:44when we understand what it is we're

5:46trying to do obviously you it comes with

5:48a great deal of

5:50nervousness and

5:52anxiety because you have not put the

5:55time into back testing and then forward

5:57testing it with a demo account

6:00so if you feel this

6:01tug of war this butterfly feeling in

6:04your stomach where you just you can't

6:05relax and you're engaging in the

6:08marketplace

6:09you're not ready

6:12that's the bottom line you're not ready

6:14you have to desensitize yourself

6:17with the results not being

6:21a factor

6:22if you lose it doesn't make a difference

6:24to you

6:26you're indifferent to it

6:28and it doesn't seem possible that you

6:29could be indifferent to losing money

6:32but a student

6:33that has a solid

6:35price action model a trade plan that's

6:36well documented they know what they're

6:38going to do

6:39why they're doing it what they're

6:40waiting for

6:42what will cause them to push the button

6:43to get in

6:45where their stop loss is going to be how

6:46much they're going to risk what they're

6:47going to aim for where their partials

6:49are going to be if they're going to take

6:50partials at all

6:52you have to know those things in advance

6:53you can't determine them once you enter

6:55the marketplace and that's what retail

6:57traders do that's exactly what i did in

6:591992.

7:01i got into a trade

7:03and then i tried to figure out what i

7:04was supposed to do once i was there i

7:06want you to see what it is

7:08that i was showing last night

7:11and even though

7:13i'm not personally willing to risk my

7:15live account right now because of the

7:17conditions that we have at the present

7:20ukraine and all that business

7:23all the uncertainties you know potential

7:25black swan event anytime can

7:28pop off and i don't want to expose

7:31myself to that measure of risk

7:32especially since

7:34i have hit all my numbers

7:36the market is delivered to what i

7:38expected in my

7:39analysis so i'm not worrying

7:42about trying to get in and do anything

7:43else so how do i manage that

7:46desire to get back in and do some more

7:49i go right to a demo account i work

7:51inside of a paper account

7:53it provides me context

7:55it keeps me

7:57glued obviously to

7:59what the market's doing so i'm staying

8:01plugged in if you will

8:03close to the market being able to read

8:04the tape so that way i can answer

8:06student questions

8:08i can still teach around the markets

8:10doing right now

8:12and that way my students can still

8:14appreciate the level of depth that i'm

8:16providing

8:17but i'm not taking on monetary risk when

8:21i don't believe it's wise for me to do

8:23so because if i'm wrong let's say i'm

8:25wrong

8:27and i traded today with live funds or if

8:29i traded

8:30on monday and i lose what i gained in

8:33february

8:34that would eat at me

8:36all through the month of march

8:38so it's toxic thinking and i learned

8:41that the hard way many years ago so

8:46what i'm going to show you obviously was

8:47executions in the trading view paper

8:49trading account but i want to make sure

8:52you understand because

8:53it's so many people out there that have

8:55this issue with me teaching in a demo

8:58which is compliance like i'm not

9:00licensed to give you trade advice so i

9:02operate through the function of a demo

9:04account

9:05to protect me and protect you you know

9:08you can't make that money

9:09you're not following me in a trade so if

9:11i was wrong

9:12you don't take a financial loss and if

9:15i'm right you can't make money

9:18and get tricked into thinking that the

9:19only way you're gonna make money is to

9:20follow me see there's a balancing that's

9:23being done there

9:24and if i'm wrong if i don't know what

9:26i'm doing and these things don't work

9:28they'll fail on the demo account just as

9:29easily they would be failing in the live

9:31account

9:32so with that foundation laid let's go

9:36into the discussion so idea is we went

9:38below this low

9:41i don't want to sell it short even

9:43though i'm bearish

9:44so what's it likely to reach up into

9:46well i'm thinking it could potentially

9:47trade up into this up closed candle here

9:50okay i'm thinking it could trade into

9:51that the low or the open of that candle

9:55so that's kind of like the magnet or the

9:57draw on liquidity

9:58so

9:59it also

10:01could reach up into this little area

10:02right here because there's a fair value

10:04got there

10:05just like we had it here

10:07and here and filled in

10:09it can go right up into this

10:12go right up there and then still

10:14resume going lower it might need to go

10:16up into that

10:18so

10:20i went in this morning and i was

10:21watching

10:23the

10:23nasdaq and the e-mini s p

10:25e s p had a lot of

10:28energy to the upside

10:29and

10:30usually these markets move in tandem

10:32that means they're generally moving

10:33together

10:36and even though that nasdaq was a little

10:38bit lethargic and wasn't trying to go up

10:40as quick and as fast as es or e-mini s p

10:44the tendency is that it will

10:47be drawn to the same degree that the

10:50other indices were so if es was higher

10:54and q which is nasdaq futures should be

10:58you brought higher

11:00in sympathy

11:02all boats rise in high tide in basically

11:04what i'm saying

11:09now if we look at the hourly chart

11:12this is what i was seeing

11:14i was trading all this in a demo account

11:16and

11:17it ran up into

11:19levels

11:20it became absurd now so

11:22i satisfy my itch

11:26when i'm not trying to trade with the

11:27live account

11:29in the demo account and i'll run them up

11:31real quick

11:32there is no

11:34fraud

11:35required and none of those things are

11:37required to make these things compound

11:39and blow up really quick in terms of the

11:42equity increases

11:44but i'm going to show you how even with

11:46a micro account

11:48so

11:48if you haven't already noticed this is

11:50the micro e-mini nasdaq

11:53so every one point

11:55or four ticks

11:56is equivalent to

11:58two dollars

12:00okay

12:01and i went in with the idea that i'm

12:03using a micro account

12:06with a discount broker and a discount

12:08broker i'm hypothetically using while

12:10i'm taking these executions is i'm

12:12hypothetically

12:14trading with an amp

12:16amp futures account

12:19and i'll show you their margins and show

12:20you the details as to what i'm

12:22basically implying by doing these things

12:24here

12:28down closed candle

12:29after a run up

12:32we retraced

12:33went down inside this gap see that

12:39this area here

12:40when it trades down

12:42towards this gap

12:45this is the draw on liquidity up here as

12:47well near term

12:49so above these relative equal highs we

12:51have what

12:53livestocks or buy-side liquidity

12:55so i'm thinking that

12:58the algorithm is not letting price go

13:00lower

13:01so it's going after everyone that's been

13:04profitable going short

13:06so

13:07where are their stops

13:10right here

13:11so we're just going to call it 14 110

13:16okay real

13:18simple the market starts to rally

13:23and leaves this down closed candle

13:26i'm going to watch to see if it can

13:28trade back down into that

13:30because if it does i'm going to treat

13:31that as a bullish order block

13:35remember what i taught last night

13:37if the move has been bullish

13:39down closed candles should not be

13:42violated

13:43down closed candles

13:45should not be violated

13:47they're going to act as support

13:51bearish market moves

13:54up close candles should not be breached

13:56and broken through

13:59never even come back

14:01so when you're bearish and you're

14:02watching the market go down

14:04and you see candles starting to form a

14:06potential up close candle you as a

14:08neophyte that is new to trading

14:11these are the moments where you get

14:12scared you basically snap yourself out

14:16the desire to hold the trade and you

14:18just collapse the trade because you

14:19can't handle it

14:20it's that overwhelming

14:22uncertainty that eats at you like mental

14:26cancer it just literally makes you want

14:28to just get out of the trade even when

14:30you're profit

14:31you ever feel that

14:32the trade's profitable and you're like i

14:35just can't stand it anymore i gotta get

14:36out

14:37you're making money your trade is

14:39profitable quote unquote in a demo

14:43it's worse when you have live account

14:44funds and

14:46you have a profit because if you don't

14:47have the wherewithal and the experience

14:49of submitting to these ideas and

14:51watching them come to fruition over and

14:53over again

14:55months of experience not just a week or

14:57day

14:59you're going to feel like you just want

15:00to collapse the trade

15:02so

15:03when i teach my students

15:05when you're looking for a price move

15:06that's going to be a long-term

15:08price swing not that this is a long-term

15:10price swing in the sense of time but on

15:13this time frame

15:14for one hour this is a nice decline

15:17it's a

15:18prolonged

15:20price swing

15:21it's not like little tiny little

15:23movements in here

15:24and vice versa we have it here it's

15:26going higher

15:28so all the down closed candles does it

15:30go below this down close candle when it

15:32starts to retrace no

15:34we expect this to be areas where they're

15:36going to accumulate more long positions

15:40we retrace

15:42going down into an imbalance

15:44and the market rallies above the down

15:46close candle

15:48does it support price yes

15:51time of day

15:53is important so i'm watching when price

15:55comes back down into it here

15:57i'm taking the opening price extending

15:58it out in time

16:00when that occurs

16:01then i know i have a setup where i can

16:03go long

16:05but i want to go into the time frames a

16:06little lower than the hourly chart give

16:08me a little bit more context because we

16:10do have a low

16:12that has a higher low to the left and a

16:14higher low to the right

16:15so that makes this what

16:17enemy term

16:18low

16:21this retracement here

16:23this might be

16:26trading into an imbalance which is what

16:28i'm teaching you to look for

16:30but the overall market structure is

16:32it's likely to go higher and aim for a

16:35run above these highs

16:39by side liquidity resting right up there

16:42so we're going to take these levels

16:44this red level is anchored to this here

16:47relative equal highs

16:49five stops are above that

16:51rallies comes back down in we're looking

16:54to see if it wants to run through that

16:57notice this high

16:59in this high it creates what

17:01relative equal highs

17:03retail-minded traders are going to see

17:04that and say oh this is exactly what the

17:06text say about resistance

17:09so it's acting as a ceiling

17:12price acting like a ceiling what should

17:14they expect to see price do go over

17:22so here's that level where the body

17:23stops are

17:26we're above it rather here's that hourly

17:28down closed candle which is a bullet

17:30shorter block

17:33notice the down closed candle is made up

17:35of two candles on the fifth minute time

17:38frame

17:40price moves away from it goes above it

17:41right here does it create an imbalance

17:43here

17:44yes

17:45that is how you determine your high

17:47probability bullish order block it must

17:50have the imbalance

17:52coupled with the down closed candle

17:55and the underlying narrative that it's

17:57likely to go higher to reach for buy

17:59side liquidity

18:01period okay it's it's that's it

18:05there is no

18:06engulfing candle does this forget all

18:09that you don't need that okay it's

18:11the gap

18:13plus the down closed candle plus the

18:15idea that's likely to go for my side

18:16liquidity

18:18that's it okay

18:20so

18:22i just noticed by the way there's a guy

18:23out there

18:24trying to hawk a seven dollar indicator

18:27and

18:28he says he's the real deal

18:31and it's all about order blocks

18:33and

18:35i'm not going to change the name on that

18:37just let you know

18:40so we're trading down into this

18:42imbalance here

18:45but now we're doing it at the time of

18:46day after the equity is open at 9 30 in

18:49the morning new york time

18:50so

18:51volatility

18:53the initial move is

18:55technically the

18:56incorrect move

18:59going into the opening at 9 30. so this

19:01is like a judas swing

19:03so think about what we're seeing here

19:04now

19:06the markets likely go up above this

19:07level here to take the buy side because

19:09the market's unwilling to go lower the

19:11algorithm keeps pressing higher higher

19:14it retraces down into the 930 opening

19:17this is that fake move

19:19don't chase this

19:21and don't chase going higher right

19:23before the equity is opening 930 either

19:25so you have to take a step back and

19:26figure out what is your looking for

19:29well i'm looking for a discount market

19:33low

19:34to high i'm below 50 yes i'm inside the

19:37order block yes

19:40the equities opening has happened

19:42i'm bullish and it has traded lower so

19:44public is going to be thinking what it's

19:46resistance

19:47it's going to keep going down

19:49to what there's your support level

19:51because it bounced there last time so

19:53they're going to think there

19:55well

19:56it doesn't do that

20:00down to a five minute chart

20:04it hits the order block and then rallies

20:08what is this

20:12what's your favorite gun

20:14market trades back down in overlaps that

20:16gap between this candle's high and this

20:18candle is low

20:19this right here

20:21that right there

20:24that is one order block

20:26with a lower time frame order block and

20:29a fair value cut

20:31you can take that trade if you know what

20:33you're looking for and you understand

20:35bias narrative

20:37and where the liquidity matrix is likely

20:39to lead to later on which is drawing up

20:42above this red level here

20:44my stops are above here

20:47so if they're going to send the price

20:49higher from here

20:50and start rallying that supposes that

20:53there's someone that got on board long

20:55here where would their ideal exit be

20:59six points higher

21:0110 points higher no

21:03you're going to want to take it up here

21:05where there's willing

21:06buyers

21:08with buy stocks to protect their short

21:09positions

21:11so when the market trades above that

21:12level

21:13the buy stops become market orders to

21:15buy the market which floods the market

21:17with liquidity for those that have

21:18bought down here

21:20they can sell to those willing buyers at

21:22a higher price

21:23which they're waiting for

21:25down here

21:26and waiting for that price rally to go

21:28up now as the market goes higher

21:31the expectation is my expectation was

21:34i want to go along in here

21:35and reach for this high

21:40this was my entry

21:42idea that it's overlapping filling in

21:43that gap and it's an order block here

21:46with a higher timeframe order block

21:47there so there's an hierarchy higher

21:50time frame to a lower time frame with

21:51the idea

21:53framed on

21:54it's going higher

21:55for buy side

21:57i have an intermediate term low

21:59forming

22:01and now

22:02this

22:03when it fills in that gap

22:05once that happens what did i teach you

22:07last night this becomes

22:08an intermediate term low

22:12this low should not be taken out once it

22:14starts rallying it should not come back

22:15down here

22:17what else did i teach you

22:19if price is going higher

22:20down closed candles should support price

22:24well it trades above it here this down

22:26close candle is high right there it

22:28trades above it on this candle right

22:29there and starts going higher but then

22:31look what happens it starts to go back

22:32down

22:33you might come down here and stop me up

22:35i'm not thinking that i'm looking at

22:37this down close candle thinking it's

22:38only going right back down into this

22:40down close candle to accumulate more

22:42long positions

22:44so smart money traders are going to be

22:46buying more here

22:47like i did

22:49rallied

22:51we have down close candles

22:52we went above it

22:55i'm not worrying about the market as

22:56long as it doesn't take out these two

22:58down close candles

22:59trades down gets real close to that but

23:02does it eat up and go through

23:05that range of these two down close

23:06candles no it just retraces down into

23:08what an imbalance why so smart money can

23:11buy again

23:12like i did

23:14the market rallies again

23:15and goes into

23:18the bicep equity

23:24order block

23:25trades through it here get long

23:29fair value got

23:31order block

23:32retracement get long

23:36order block

23:37imbalance with the fair value gap trades

23:40back down

23:41doesn't even come back down into the

23:43order block

23:44this is classic it generally doesn't

23:46like to go all the way back in rebalance

23:47when it's that close to the profit

23:48objective so the algorithm only has a

23:50small little retracement inside the fair

23:52value gap so you would be a buyer

23:54just that that candle is

23:56low

23:58it runs right to

24:00the

24:02target now i know some of you

24:06just don't trust me

24:09these are trading view execution errors

24:11and i'm going to log in to trading view

24:13and actually show you

24:15by highlighting these actual arrows

24:18but i'm going to take you down into the

24:20charts

24:22they'll all be all the way down into a

24:2330 second chart so you can see the

24:24grouping of where i actually entered

24:26with this logic okay

24:28now remember enemy term low is down here

24:30this should never be overtaken until the

24:33objectives reached

24:36so all this price action leg here

24:38is

24:39i trust that it's going to keep going

24:41higher as long as the down closed

24:43candles keep price above it

24:47above what above the down close candles

24:49that's going to be supporting

24:50each new leg higher the market should

24:53not retrace back down below those

24:55so what am i saying

24:57for trailing stop losses

24:59you do not want to take your stop loss

25:01if say you brought it down here like i

25:03did

25:03and your stop was below the middle of

25:05this candle that's mean threshold of the

25:07bullshort block so i don't think it's

25:09going to go down below that once i'm

25:10entering

25:11then it starts around goes above this

25:13candle's

25:14high

25:16my stop-loss must remain below this

25:18candle's low because it can dig into

25:20that candle

25:21because it's going to act as a order

25:23block

25:24then the market rallies away comes back

25:26down retraces now if i put my stop loss

25:30inside this area here

25:32i'm stopped out prematurely

25:33chances are you probably wouldn't have

25:35the wherewithal to get back in you'd

25:37think well

25:38i just lost out one potential profit i

25:41made a little gain but i'm afraid to get

25:43back in you because it took me out

25:45that's infancy that's because you don't

25:48know what you're doing

25:49everybody was like that i was like that

25:52but you grow out of it

25:54if you do the same things i'm teaching

25:56you over time

25:57it's built into your understanding and

25:59it's ingrained in your understanding

26:01about price delivery

26:03the market rallies above takes out these

26:05two down closed candles now the stock

26:07can be raised from whatever would be

26:10below this down close candle now it can

26:13be raised below this down closed candle

26:15because the idea is these closed candles

26:17are one order block that should not be

26:20violated if it's bullish

26:22if it comes down and breaks the low of

26:24these down closed candles

26:26well there you go

26:28you probably did the right thing by

26:29getting stopped down

26:30because it might be failing and going

26:32lower how's that for logic

26:36you're not gonna be perfect i'm not

26:38perfect

26:39even though you see these errors on the

26:40lowest candle here

26:42and it goes out to the exit here right

26:44above that

26:45this is not photoshopped i've never had

26:48to do a photoshop okay i've never had to

26:50do that

26:51but i'm teaching you the logic right out

26:52of last night's lesson i went right into

26:55the market this morning no it's not done

26:56with a live account

26:58but i'm showing you in theory

27:01with the application of a demo account

27:03which is the same live data that would

27:06be utilized in my td ameritrade account

27:09or your live account if you have one

27:11these candles are forming just like they

27:12would be in your live account

27:16but i'm executing with the logic i'm

27:17teaching you right out of last night's

27:19lesson

27:21now

27:25here is the one-minute chart

27:28all right so here we're over in trading

27:30view

27:31everything is

27:32live printing right now this is

27:37where we're at at the moment it's just

27:38hanging around that old high

27:43now i'm not upset i missed this move

27:45here i could care less

27:47i'm going for logical

27:49places where liquidity is going to be

27:51resting

27:52and i'm entering

27:54in logical places that would

27:57reasonably expect to see price advance

27:59higher from where i'm buying

28:01it's not complicated

28:03but watching last night's lesson can

28:06feel like you're trying to learn

28:09a foreign language and expect it to

28:11understand how to speak it fluently two

28:13hours later

28:14don't let that happen okay

28:18i can make these lessons

28:20as deep

28:22as i want them to be but i'm showing you

28:24how i'm taking very complex topics

28:27and simplifying them in a manner that

28:30hopefully is easily

28:32received by you as a student

28:36so i showed you the hard

28:38perspective

28:40last night

28:41that's advanced market structure

28:45now i've simplified it within the scope

28:47of what i teach in this youtube channel

28:49do you see the difference

28:51it's only in the manner of how i'm

28:53teaching it but it's the same things

28:56it's the same ideas that i've just

28:59simply made it easier i've created a

29:02language

29:03that helps me communicate what i taught

29:06last night in a much more palatable

29:09method

29:10so that way

29:11it's not as complicated seeing it like

29:13this

29:14this makes sense to you all you're like

29:16okay now we're back into this stuff it

29:17makes sense now i'm teaching you the

29:18same thing i taught you last night

29:21i'm just not teaching it to you

29:24at the degree that is

29:26in my head

29:28you might be thinking well you know keep

29:30it to yourself i see i don't need to see

29:31it like that and that's okay i get it

29:33it's fine

29:34but

29:35this right here these are the elements

29:37that make up

29:40really simple

29:42logical setups

29:44that repeat every single week and many

29:46times every day

29:49so

29:51i started i ran up the other

29:53paper trading account to like 200 some

29:55thousand dollars this morning and

29:58i was thinking myself okay now we're in

29:59territories it's just gonna feel silly

30:02you're not gonna have any interest in

30:03seeing that it's it at that point it

30:06becomes okay

30:07now we're absurd you know it's just

30:09ridiculous you're not going to believe

30:11that this is possible

30:13or maybe some of you do and you think

30:14you want to go out there and try to do

30:15the same thing with your live account

30:18either one of those things

30:20are not my goal okay it's just me

30:24losing myself in price action so

30:28i treat it like a game

30:30it's a

30:32puzzle

30:33so i'm looking for

30:36the outcome

30:38of a specific trading session or a

30:40trading day

30:41and i'm trying to navigate those

30:43candlesticks and that's what you're

30:45seeing here

30:47if i hover over top of these little

30:49arrows

30:51okay you can see that they're not

30:52photoshopped

30:56and

30:57you make them appear

30:59by going into the trading view settings

31:00and you click the little execution

31:03box here

31:04watch below the swing lows and above

31:06that something high you'll see them

31:08toggle on and off it's all going on and

31:11off

31:11okay

31:13so this is

31:15proving precision number one it's

31:17proving theory in action

31:21and it's proving

31:22that it's not

31:24flawed logic

31:25none of this is retail absolutely none

31:27of it

31:28there's nothing here that's elliott wave

31:30none of it's harmonic

31:32none of it is supply and demand

31:34none of this is chris laurie's stuff

31:37i have a lot of chris laurie students

31:39lots of them

31:41and they'll tell you this isn't even

31:43taught in his stuff either so

31:45with that said let's go over to

31:48the paper trading account

31:50this is just again illustrate

31:53for the folks that say well you know you

31:54can't really grow an account if you're

31:56using micro accounts and that was some

31:59of the comments i got also and i'm like

32:02stop thinking you need a lot to make a

32:05lot you don't you need to be able to

32:07compound

32:09the things that you see me do

32:11in these accounts and they're being

32:13parlayed up really quick

32:15every time

32:17i'm buying like i bought right here let

32:19me see if i can get this to go away for

32:20a second when i bought the three

32:23micros here

32:26the next time i see a buy signal that's

32:28below the area i'm aiming for above that

32:30red level

32:32i'm gonna try to buy more but i'm not

32:33gonna buy more than three

32:36i'm gonna buy now two

32:39i'm pyramiding

32:41i'm building the biggest position

32:42initially and then every time i buy in

32:45again i'm building it with a smaller

32:47position than i had prior to the when

32:49i'm entering now

32:51because i have all the equity behind

32:53that entry with three supporting the two

32:57i'm buying here so even if it starts to

32:59re you know retrace too deep on me i

33:01have the ability to weather a little bit

33:03more whereas if i say

33:05i want to be a buyer of one here

33:07two here

33:08three here that's an inverted pyramid

33:11it's not stable imagine a pyramid upside

33:13down and it's balancing on its point

33:15it's not

33:16it's not a solid foundation it's wobbly

33:19so i'm building the biggest base at the

33:21bottom of the pyramid or position size

33:24in its initial position entry so i'm

33:26buying three here

33:28then i'm buying two here

33:31then i'm buying one here

33:33and then i'm letting it run to my profit

33:34objective

33:36okay

33:37with that said starting with a

33:38hypothetical ten thousand dollar account

33:41just this morning

33:45over 21

33:48one trade

33:49with three

33:51scalings

33:53okay i consider this all one trade i

33:55don't consider this three separate

33:57trades it's one trade

34:00scaled in largest

34:02middle

34:03last portion

34:05then it runs to my objective

34:08so the account history

34:10starts with ten thousand dollars here

34:12ends with twelve thousand one hundred

34:13eleven dollars demo money okay

34:16the history tab shows you here and if

34:19i'm not mistaken

34:21i have everything shown don't know

34:24yeah time everything's toggled here

34:26nothing's hidden

34:28none of that and then you can see over

34:30here

34:31all the business there

34:34okay

34:35so my question to you is this

34:40who cares if you gotta trade a micro

34:42account

34:44three micros two more micros one more

34:47micro that's six micro contracts

34:52that requires

34:54technically

34:55twelve hundred dollars

34:57so i really didn't need the ten thousand

34:58dollars to do these trades but in my

35:01mind with proper leverage and

35:04money management ten thousand dollars

35:06with this position size and gearing

35:09that's optimal anything more than this

35:11would have been too much leverage for

35:13that account

35:15to make 21 plus

35:18in one trade

35:21who's going to argue against that being

35:24well above average

35:27now what happens if you do that

35:32once a week

35:33and that's your trade

35:35and you stop

35:37and once you hit it you end your trading

35:39that's it and then you go to a demo

35:41account

35:43you have any idea

35:45the leaps and bounds that you can have

35:48in your equity increasing and the peace

35:51of mind knowing that you don't have to

35:52over trade

35:54that's what i'm trying to cultivate here

35:55in this community folks i'm not trying

35:57to create monsters that they trade every

35:59single day

36:00because i say these likely form every

36:02single day but they absolutely form

36:03every single week that is not an

36:05invitation for you to go out and say ict

36:07said trade every day

36:09no it's not what i said i'm saying if

36:11you miss a trade

36:13you're likely to find one tomorrow

36:15well not tomorrow because it's saturday

36:16but you know what i mean the next

36:17trading day

36:20so there's a balancing act that you have

36:22to have

36:22when you're listening to me

36:24you just can't take one comment that i

36:26say and take it completely out of

36:28context and say

36:29well i see he's a day trader and he's

36:31proven that he's really precise these

36:33concepts work i watched a couple videos

36:35i trusted so now i'm gonna go out

36:36looking at charts and i think i see it

36:37forming right now and i'm going in all

36:39in i'm in it

36:41and then you're sitting down writing an

36:42email to me saying i blew my account

36:46whose fault is that

36:48it's not mine

36:50it's yours

36:51when i blew my accounts it wasn't my

36:53broker's fault

36:55it was mine

36:56i did not know what i was doing

36:58i was out of control

36:59taking 60 70 trades in a day

37:06when you lose control

37:08and you have no idea what you're doing

37:10it's impossible for you to execute like

37:12this

37:15you have to think about these

37:17examples

37:19as

37:20the goal

37:23not that you want to be this precise

37:26right from the beginning because you

37:27can't be no one is it takes time to grow

37:29into that in your understanding

37:31but it takes

37:32some measure of goal setting that you

37:34have to have you know you listen to some

37:37people after they pretend to be teachers

37:38they'll say

37:41having a weekly goal or a daily goal is

37:43the stupidest thing in the world

37:45really

37:47i guarantee you these people are not

37:48profitable that say that

37:50they're hit and miss

37:52they have periods of drawdown that are

37:53much longer than most people would be

37:55willing to

37:57endure

38:00and if you don't aim

38:02for a target you're going to hit nothing

38:06100 of the time

38:08you have to have a goal

38:10so if your goal is

38:13to hit nothing

38:15then obviously don't set a goal

38:17but i set very low hanging objectives in

38:20front of me

38:21these things are extremely easy for my

38:24capability and for many of my students

38:27from the 2016 group and 2017 group they

38:30can take trades like this

38:33in fact i have a woman

38:35in my group from the first group from

38:37australia that is phenomenal she does

38:40very very well

38:42and

38:43these are trades that i believe that

38:46even you

38:48as a youtube student

38:50in this mentorship on my youtube channel

38:53i believe in six months

38:55of practice and looking at price action

38:58you can do this yourself

39:00and do it consistently

39:03consistently what do you mean every day

39:05michael no

39:07one time a week finding something like

39:08this

39:09and working that position in like that

39:11absolutely

39:13i'm making myself available twice a week

39:14this is an extra video today because i

39:16know last night's video was a little bit

39:18more deeper

39:20than you're accustomed to

39:21and i'm not suggesting or implying that

39:23the lessons are going to go that

39:24direction

39:26i'm just stating that when i'm studying

39:28market structure i'm studying with that

39:30degree and more

39:32but i had to create a language

39:35that gets to

39:37generally the basis of what that is

39:39doing

39:40without all the complications within it

39:43so

39:44be glad that i'm not requiring you to

39:47understand that degree because the

39:49language i'm teaching like in here is

39:51accomplishing the same

39:53method

39:54just doing it without all of the extra

39:57acrobatics

39:58because i know what you're going to be

40:00questioning

40:01you're probably looking at your chart

40:02thinking how do i classify this swing

40:04high is any term high versus a short

40:05term high in a long term high how does

40:07he know right that's the part you're

40:09never going to get

40:11so i had to create a language that makes

40:13it simple

40:14and that's what you see in my lessons on

40:16this youtube channel

40:19i showed by comparing and contrasting

40:22where i came from and what i'm providing

40:25to the public

40:28i can show you

40:29just how complicated the real

40:32intricacies are behind these

40:33marketplaces but you do need to know

40:35certain things that repeat and they're

40:37very generic in price and they're not

40:39linked or

40:41built upon the foundation of anything

40:43that's retail logic none of that stuff

40:46not support resistance not any of those

40:48other disciplines that people use and

40:50you make businesses around

40:52selling books and courses and such

40:55so

40:57one of the cool things

40:59that

41:01if you still are a trader that uses like

41:03elliott wave and harmonix and things

41:05like that

41:08if you start studying what i'm teaching

41:10you

41:12for free right here

41:14you're gonna find that your trades

41:17that win

41:19have my information underneath

41:23and when your trades fail

41:26the things i'm teaching you here

41:29are missing

41:32see

41:32this is what i asked last night in the

41:34closing the video and i'm closing this

41:35video now again

41:37the mystery

41:39that plagues

41:41all speculators

41:42is

41:44what

41:46trading approach

41:49is the one that's going to make me money

41:52and i don't have to worry about losing

41:56more money in flawed

41:58approaches of trading

42:00what you're saying is

42:02there's a method out there

42:05that is better

42:07than everyone else

42:10i'm humbly submitting to you

42:12you have found it

42:15it's not costing you anything

42:17but it's going to require some work it's

42:19going to require some time

42:21effort it's going to feel like you can't

42:23get it it's going to feel like you're

42:25never going to understand it that's all

42:27normal

42:28it's all normal

42:31but you'll get it

42:32there's folks in my 2016 group that

42:34couldn't get it

42:35they got it now

42:39it took them a couple years

42:41others they get it real quick

42:43i don't understand

42:45why some get it quicker than others i

42:47just know that it's like that and you

42:49might be one of those slower learners

42:52it's okay

42:53i was a slow learner

42:55but once you learn

42:56it it's yours

42:59you don't forget it's like riding a bike

43:02and that should be your passion and your

43:03pursuit to get to know how to do this

43:06like riding a bike

43:08you can put the bike down for a couple

43:09years and then get back on again and

43:11just like you never

43:13stop writing it

43:15and that's a comfort and a confidence

43:17that is something that i can't

43:19articulate in the words

43:21and if you are able to find consistency

43:23and profitability

43:26it doesn't matter what you're doing in

43:27the economies then doesn't matter how

43:29much it's going to cost you for a gallon

43:31of gas

43:32or how much it's going to cost you on

43:33your groceries

43:34because you can outpace inflation

43:38if you know what you're doing in these

43:39markets

43:41that should be your goal

43:42always outpace inflation

43:48and there should be no concern

43:50i'm not promising you rich

43:52can you get wealthy with this sure you

43:54can

43:55am i promising it's going to happen for

43:56you no way

43:59will you lose money in the process

44:01absolutely i'm guaranteeing you're going

44:02to lose money

44:04every trading system discipline educator

44:07everybody

44:08loses in trading they take losses

44:11some take

44:12stunning losses and others just take

44:15mediocre losses that are just nuisance

44:18other traders that are really really

44:20good can have periods of drawdown and

44:22then regain that equity draw down back

44:26and it's like it didn't even happen

44:28not even skip a beat

44:31that's experience

44:34these are all bridges that you're going

44:36to cross

44:37you're going to cross them at times and

44:39intervals that i can't outline

44:42in advance for you but i generally know

44:44the concerns and questions that you have

44:46at this point

44:48my request to you is to suspend those

44:52feelings that you have to have all the

44:54answers right now because you don't

44:58you have to be

45:00more diligent

45:01about

45:03placing yourself in front of the charts

45:05and back testing and researching what

45:07i'm showing you because it's there

45:09and by seeing that over and over again

45:12it's better than a book it's better than

45:14a course

45:15it's better than a mentorship that you

45:17pay

45:18because i'm teaching you how to go into

45:20price and price will teach you

45:23it will teach you

45:25it's repeating

45:27so if it's repeating

45:29and you're looking at it constantly

45:32you are training your eye to see what it

45:35does

45:36by default

45:39when you buy a book

45:43and you look at the examples in the book

45:44each chapter has an idea that it's

45:46trying to focus on

45:47how many examples do you generally see

45:50just a handful at most right

45:53but

45:54remember what was like when you got a

45:55trading book for the first time and you

45:57looked at it and you saw

45:59bearish diversions and bullish

46:00divergence was the caustic indicator and

46:03it made it lower low in the price but it

46:04didn't make a lower low in the

46:05stochastic and it was a bullish

46:07divergence and you were thinking man i

46:09can see that that's easy

46:11and then you start looking at it on a

46:12live chart and when you thought it was

46:14diverging

46:16it just kept going lower in price

46:22they're only going to show you the

46:23examples that help sell the book

46:25because they don't want you to return

46:26the book

46:29i'm teaching you how to go through price

46:31action and fared out these repeating

46:33signatures

46:35and

46:36it isn't just a handful of examples it's

46:38every week

46:40every

46:40day and it won't stop

46:44so enjoy your weekend

46:46i will touch base with you on tuesday

46:47lord willing and until then

46:50be safe