 Good morning traders and welcome to the book map live trading webinar with Scott. We'll see any today. So Scott trades features you guys know who he is, but we do this every Thursday with Scott and we go over How to How he trades how he uses book map how he reads order flow and integrates that within his trading The you guys know who Scott is. He has just a pretty amazing story here about his history trading 10% of the S&P E-mini was featured in a book with Dr. Brett Steenbarger And it goes on and on anyway Here's Scott's information here for if you want to reach out to him. You've got his email. You've got his website Trading room here. He's got educational courses on our book map Marketplace I'll put all this into the chat if you want to reach out to him I need to go through the disclosures here, and then we'll turn it right over to Scott All right general disclosure all book map limited materials information and presentations are for educational purposes only and should not be considered specific investment advice nor recommendation Dations live trading is in simulation demo paper trading mode and strictly for educational purposes Live trading executed in simulation cannot accurately represent realistic trading performance risk disclosure trading futures equities and digital currencies Involves substantial risk of loss and is not suitable for all investors an investor could potentially lose all or more than the initial investment Risk capital is money that can be lost without jeopardizing one's financial security nor lifestyle Only risk capital should be used for trading and only those with sufficient risk capital should consider trading Past performance is not necessarily indicative of future results. All right. Are you there Scott and Cannot hear you. I don't know if you're there. You're not. Yes, there you are All right, so let's if you can present your screen and then I'll rebroadcast it in here Got it. All right How are you? I'm great I'm okay. I'm okay All right, take take it away Scott. Okay. Thank you Good morning, everybody 151 contrast there's some stuff firing off and go there Important level Trouble over so You see here there was a This is like 400 stop run or 300 stop run here the shallow zone and then more step run Or more stop scheme in here. You can see it back to back 146 155 So another three 300 total you can see they swipe the sweeps of the book as well And now you have some bias coming in this is not threshold. So I'm not gonna draw anything but You know gold is bullish for right now It's gonna be interesting to see what we do here. You can see in the bigger picture Got this pretty large Month and a half balance area that we broke out from and it's just basically building balance Now we're really doing is coming down to the bottom of the balance, which is the top of this guy So this is still bullish Intermediate long-term right doesn't mean you can't pull back like we're doing now but your Your counter moves are usually gonna be short-lived and then the bigger moves are gonna be like that if this remains bullish and up here You know the only time this No question this being bullish is if we violate the I volume node of this balance area So that would be way down here So this could come all this could come all the way here and still be a bullish market as far as the structure stuff so That's why That's why using real-time buying really helps you because you know if you're bullish here, you're bullish over here You're like, yeah, this thing's ripping this everything tells me this is going up And then you endure this and you have no idea that there's stop runs coming up firing off and sell stop runs And you should probably not be in your lung right now and you or you should wait for the stop runs to fail so See what's going on now is that I'm very interested in these markets Selling off here 716 contracts So I'm short. Yes, we'll go over all this here in a second. There's a new setup in here I'm gonna draw this first considering I have a position on I just shorted while I was showing you guys a gold I should have went to this first, but you can see this by ice coming in So what we will do is mark the zone up And then we can I can trail my stop based on this new setup this new volume event In case this thing doesn't break S&P ice iceberg by yes 949 contracts, right? So there was a ton of but tell us a ton of cell ice before the open and in the open 176 contract added it all up. It was like 7400 cell ice now. Now we're failing out of that zone. So here's the That's great Good cell ice coming in I'll come back to that in a second Right now the ATR is six point three eight five minute ATR. So that means six six point three eight points The way I trade these five point seven four is 90% of an ATR. I've moved to 90 It's been working a little better. You guys see me gets ticked out ten times a day So I've got I was at 75 and I was at 80 then I was 85 now I'm at 90 just trying to find that sweet spot where the algos don't tick me out every time So five point seven five points above here. I will stop out of this trade So 31 25 you can see that's right at the bottom of the zone. So what I'm gonna do is I'm gonna go a little bit higher than that I'm gonna get right inside the zone In case we get a bounce and I don't get stopped out So and we'll go over why only have two on here too as far as the risk So I'm gonna stop out right inside there Hopefully won't get up there And I'll actually add to the straight as well. So that's that and And then here you see the cell is coming in in Nasdaq 175 here, so you draw these zones Look for the spike and incorporate all the prices that happen in the spike and you try your zone That is I try to use SNP ice for five years 711 contracts And you stop stop sell and you 367 contracts SNP ice for five years 701 contracts All right, so there's another stopper. I mean, I'm not even getting a chance to do it This is trading like there's some kind of news out And 45 contracts So this is a new setup. I will trail I stopped based on this I mean, I'm not even getting it's like nothing's going on and then everything's going on. So this is the new one so The 6.84 is the ATR now We'll go over why you use the ATR and everything else wants to settle us down a little bit So 6.15 is 90% so I round up six and a quarter points above here. I will stop out So that puts me at 2550. So I was I'm able to bring this stop down six points now because of the new volume event 2650 all right so quickly. Let's take a look at our Lugs Ludwig levels these are pertinent to my trading and understanding where we are as far as short term Sport and resistance so you can see here we bounce this was the trade I should have been more aggressive here before there's a bunch of solace at the open and we kept them a little higher But I mean you can see how well these things work. I mean bounced bounced and now now we're down at the yellow So this is a really important level So yellow lug and that's confluent with this market profile composite So if you know if this market is gonna remain short-term bullish, this needs to hold right here if this gets outside of here It's gonna get ugly. So and then if we get in here, it's gonna get really ugly That's what I've been calling for for the last few days, you know yesterday was a terrible volume Relative volume low volume nonsense rally and then today now the big money is coming back in and pushing it back down So Really important level here Nasdaq As well same exact thing. These are really really important levels right now We've already violated so we couldn't even tag the red here got below the yellow and now you expect blue We're right there and this is like a three four day composite we'll go over all this but You know if this is gonna remain bullish, this needs to hold this gets out of here then Again, it's gonna get ugly So let me get my stuff there so I can have multiple positions on and get smoked on a bungee jump That should be fun. Let's see Did that move there look like there was some kind of news out? I don't know I Got my squat gun and I didn't hear anything, but we'll probably find out, you know 20 minutes later after the market moves 50 points Yes All right, so this was that stop run color the stop runs yellow or white So I can distinguish Now we're just basically bouncing in between that was that sell ice here's a stop run We know we're below the yellow lug So I will short this will depending on how close we are to the blue I because I don't like taking positions right before the blue luggage. You saw like the red one They are very very powerful. So, you know, I won't depending on the risk reward, you know, there's a setup Which there is here What's the distance to get to this versus what I have to risk? That's what I have to judge right and if we're like down here and I get a set up a short setup I don't take it until we bust through the lugs and build new lugs, right? Especially here, you know, like I said, this is really important area. So I Want to make sure we can Get out of that and I want to see what my risk is here. So this this blue lug is 13972 so that's a good what 90 points away ATR current ATR is 31 Which isn't isn't crazy for Nasdaq Remember a few weeks ago or a month ago was at 100. So that's not too bad So, you know, you could trade this Off of the return of this if this fails, right? the safer play is To always river to the most recent setup and that was a stop run, right? so I Will trade this because the ATR is not too bad I will go short aggressively if we break this some again You could trade this and when I was explaining in my room and I've said it many times in here too yesterday is You know Different different people have different since I was talking about what he thought was a bull flag and I Disagreed and then we started to talk a little bit and about You know what people use or what they look at and you know You can come up with your own ways of using this this information the point is this information is the science There's no questioning. This was a stop run, right? How you trade these zones is up to you Like I tell you every week I've been watching this for three plus years now and Thousands and thousands of setups and the way that I've determined the best way to trade these is To you know wait for an ATR Such or etc. So the way I'm trading them. It doesn't mean you have once you get I recommend you follow what I do right if you're first starting and you're trying to learn how these work But once you get better at them, you can trade them over once so my point is like on this return to this You may say well My point is you know, you may say here are seasons. You know, you're like this thing is going down This was a huge move blah blah blah whatever reasons you use we you know the 200 day cross the 50 day Whatever whatever you're using you may say I'm going to short off of this song I'm not going to wait for a tier 90% of an ATR below the stop. You see what I'm saying? So the better you get it recognizing these and understanding them and watching them and you come up with your own ways of trading So enough chirping. Let's put the order in here 29.74 is your ATR 26.76 so 27 points below here I want to this trade then I have just determined I have to determine what my size is going to be based on my risk, right? It's a 27 points Blow here So 30 points puts me 11. So it's 1425 is where I can short this spot gamma volatility trigger which I like and then we'll also be outside of This profile as well. So that's not a bad. I mean you got this other one here Right it of course right at the exact price that I'm going to short it But this is most important because it's the most reason and again. This is this this composite is Like what's today? How many days is this? Let's see real quick. Yeah, this is a three-day composite. So Remember if this is you know, most you guys know market profile is but this all this is showing you that 70% of the day's trade occurred in this and This and if they overlap prior days, you merge them all together and then make one big composite value area And they're really really really powerful For areas and you know, you could just seriously wait, you know, when you're in the middle of a composite That's when you're gonna get chopped up. You can wait for edges to make trading decisions, right? Especially if they're confluent with other things, right? But that's you know, and then you look at your bigger picture stuff as well But you you can do very well just waiting for bookmap setups the SI indicator setups at edges You know, whether you played, you know that it holds or whether it breaks Let's see what's going on in the CS so Hoping this can hold if not then I'm basically gonna scratch that trade, which is fine, right? I mean, I don't of course I want this thing to go to zero, right? But I don't ignore Bolash setups and this can potentially be a bullish setup. This is the most recent setup He had a thousand buy ice. He had 700. Actually, this is a double whammy. This is one of my six setups So this is The dumb money the retail trader again, don't be offended and retail traders Well, the dumb money puke into the waiting hands of hidden buy orders in the order book, right? This is the big money. So this is one of the strongest signals as far as Which way we're gonna go if you see the big money coming into buying while the dummy puke See, you know high percentage of the time. This will be the end of the the download for now Usually make the double whammy's dirt blue and help me distinguish So if this does hold, I'm just gonna stop out 90% of an ATR Basically exactly where I shorted it, right right there and then we recess That's a high likelihood of happening One second. I got a trail my stop of my other accounts Any questions first while I'm doing this? Well, I'm sorry. Hold on a minute here in in YouTube. Um, Yeah Goon 05 is just wondering about where this crazy selling might be coming from what your thoughts on that And well, you never know where it's coming from I have a pretty good idea of from what happened earlier today, right? So you see this before the open this all started and that's why this black zone is humongous And that's why I only have a tulot on so I'm gonna get to this so it's a good segue, right? You see again, some of my room added all this up. It was like 7400 Sell ice contracts from here basically all the way up to here I didn't draw the top of this because the last one was only 400 But somebody was selling this all these aggressive buyers are and we're like, um, yeah Yeah, this thing's going to 45 100 100. Oh, no, well, let's puke about right? That's what I would say a lot of the selling is Guys all these guys that were so gung-ho and then they're like holding their breath holding their breath puke Right, and that's that that's the start of that right and now you have some now You have paper coming in the way and some of this could be some of that You're never gonna know right ever unless you are got Almighty You don't know what the bigger players are doing as far as why right and that's like the big argument Like when the SI indicator came out like you had all these competitors like you don't know it They misunderstood too. They're like but just because it's by ice doesn't mean the market's going up And just because it's allies doesn't mean it's going down. Well, of course that right But you still want to have a good idea what the big money is doing first and foremost big money is not always right when they're wrong It's tremendous, right? So, you know, if there was but we've seen many times where this thing is, you know By ice by ice by ice and then then it just dies, right? So the point is you want to know what they're doing and I lost my train of thought I was trying to get out there, but Um, you know, this was aggressive buying and then Breath-holding right where was my and this is like, you know, you have your everybody knows like you have your threshold where you have to puke Right where it's like too much paying you're out and that's what that was right there And it could be just the beginning So the other thing I keep an eye on and this is not publicly available right now And I don't really know why you know, I used to do the Taz trade room And he has this product which is very very powerfully they're redoing it they're revamping it But it's not available to purchase right now. This is called the edge So what this is showing me is So I have it set for the S&P right now, right? So this is showing you all 500 stocks in the S&P how many are above or below their Five-minute Taz boxes. So the five-minute Taz boxes will look at that in a second They're just little little mini market profiles So when this thing gets extended meaning you see the red get above the 67% line you see the percentages over here Many times that is the end of the move and you'll get you're gonna get a bounce if you see the green above here Many times that's the end of the buying and you're gonna get us a little bit of a saw off, right? So the point how I use this is just because red gets up here doesn't mean you just want to start buying blindly what you want to What you don't want to be doing is if you see It's good. This is getting close, right? It's at 57% this gets over 70 80 90 percent Which you can get up to you don't want to be selling at that point because this will get Will revert and the alga's pop it come in and pop it the other way so So I keep an eye on that as well. So It's a very good likely that likely that I get stopped out of this trade, but We will see Let's see what's going on gold Gold and crude have been extremely difficult to trade lately with the all the headlines and the war and everything else So I would be very careful trading these especially if you're new to the market And now we have buy stops going the other way So we had sell stop styles sell stops and now here comes 300 buy stops and this is the most recent So what I'm gonna do is I'm just gonna Remove this cell stop run for me for because this is basically right on top of that And let's make a new zone and we can trade off that So we've already seen It's already shown its cards basically that that cell stop the last cell stop below is rejected. That's a dumb and dumber That's one of my Six setups right and now you're getting a buy stop the other way So I would probably expect this because of the bullish Nature of this market right now that this will turn into a stop and hold so you have a dumb and dumber And those are these are my names that we named name these setups makes it a little comical as well That's your stop run cell stop run. It's the rejection. That means that's not real selling yet selling But it's not is it selling with a purpose or as a guy's puking? It's guys puking instant rejection now You got more pukes now is it's gonna turn a new the pukes Initiated and then the big money comes in and holds it and it runs it back up And that's what I'm thinking is gonna happen again. That's my Thought but I will change if the volume tells me something different, right? So let's take a look where we're at here as far as lugs and market profile We'll get in this key with a volume and stuff as well This was checking this earlier was not drawing your logs. I hope there's not this is correct Because this should have drawn your lugs by now So she's trying to switch over. She's like redoing this and she's had new versions and she's been having problems with that Natural gas number comes out So you can see here what what story this is I try to get through my room all the time What story do you see occurring here? All right, so this was I mean lugs Doesn't really tell me as much right now. I'm assuming there's new lugs here and there's a yellow lug right where we're at, but We don't have that to lean on right now. So let's just look at this, right? So what happened the other day we launched out of the most recent market profile composite We retested this guy here Couldn't hold inside That's bullish boom closed here next day just traded in a range right now The same exact thing is happening, right the other day couldn't hold today couldn't hold There's your stop run dumb and dumber you're back out of here. Here's another stop run So if this holds I will be gladly going long and watching this this all is in is in line with our my thesis of Both bullish thesis right again. Here's your balance here's balance all we really did has come down to the bottom of this It's just one balance so I can see this holding because this is the mammoth that it's holding the top of this guy And then coming right back and now we know market profile. It's rejecting out of that most recent composite We potentially have a bullish real-time setup real-time volume set up, which is the most important we take the tray, right? So Again, I don't know You know I use I use the lugs to determine if I'm gonna be aggressive out of the zone or if I'm gonna wait for a full ATR retest and I don't know why this is not drawing new zones. Hopefully she's on this webinar and she can make some adjustments, but Prior blues important as well. So usually when you get new lugs They'll show you examples of this, but you just they'll draw new lugs And it'll be the yellow be right on top of the blue then you haven't read and then you have blue down here So if the markets truly bearish, it should hold directional yellow and prior blue It should not get above here. So now if we got that factor in as well So if this the stop latest stop run This latest stop which is right here if that turns into stop and hold we're gonna get back back above prior prior blue We'd held outside of this. That's all bullish, right? And then you have your real-time volume telling you we're going back up So my point is what I usually do when we're right at the yellow lugs I wait for retest failure, which is probably the smart move in gold because it's the chop fest I'll go ridden chop fest. So there's your ATR. Just move the decimal point 31.4 All right, so that we'll say 32 ticks So I'll wait for a retest failure on this again, it doesn't always bail or retest I should say so The meaning I need to see 32 ticks out of here So I needed to see see this trade 40 Then I would need to see a retest of this area They even come all the way back in here and then once it fails back out of here And then I'm in at 90% of an ATR and then my stop goes 90% of ATR below this most recent structure or volume of it, right? You could again, that's how I trade it. This is the best way I've determined to trade these after all these years, right? So you could say wow, Scott's a lot of that's a lot of bull stuff. Scott just showed me I'm gonna buy I'm gonna buy it right out of the zone or I'm gonna buy it at a 90% I'm gonna be aggressive. I'm not gonna wait for retest. You can do whatever you want. It's your money, right? But I'm telling you, you know, the the safest way to play these especially in these algo Clown markets is you want to wait for retest failure, right? And especially when we're at the yellow luck So my point is as you get better with these and understand them you can train them however you want Right? But that that this is the science the science is this was a stop run. This is the area. There's no disputing that how you trade it It's up to you. I highly recommend again that you trade it the way I trade it until you figure out what you're doing All right Let's take a look see if I got stopped out of my ES yet No, oh look at that. Look at the new 90% holding holding tough. No stop out. Yes So technically now if this We didn't get an ATR above this most recent double whammy Right, so technically I can still short this I can add to the short if this fails and comes comes back Let's make sure ATR so the reason I'm using ATR while this market said I love how it's just like everything's firing off And then everything just stops. There's nothing now Which is fine because it helps me explain things 6.92 you can see right there just 6.92 points Natural gas comes out here in a minute point two five six point two two, so you round up six point two five, so let's make sure this is Whatever that means I don't know what that means as far as that's a lot or a little So 25 50 is my stop price so I can actually move this down now Full point so what I'm doing is I'm moving my stop not because of P&L. All right, I'm moving my stop because of the dynamic Volatility change in ATR. That's what this helps you with so I'm getting I get a lot of questions about this lately like why do you use ATR? I don't understand what you're doing there. Well because when I first learn how to use these and understand what this was when I made My course I had a standard amount of points that I would use to determine what kind of setup it was Yes, I squared sell NG 153 contrast we will keep an eye on natural gas because that market So I tell my room is you guys want to have other markets that you are watching instead of just this Yes, I almost used a bad word there Yes, or NQ so when these markets are not trading you can go to another market the ones I recommend right now I Would recommend staying away from crude and gold but natural gas and soybeans are incredible like We'll mark this up and I'll come back to what I was talking about the ATR here that you can see here the numbers out Yeah, something this isn't big, but I use reset mode right so you can use different modes on here Once again, this is up to you how you want to do I use reset you've got and when I made my course I use exponential right we'll show you it doesn't look that much different Right, but I want to see spikes, right? So when I use the reset you can see the spikes and then add them together if they're right on top of each other So I just like to see that it's just a better look You can use whatever whatever setting you want Just literally google book map wiki and it explains the different settings and you tailor it how you want to look at it So this is actually a pretty big zone here. You got that all the way up to here But this thing is it's pretty incredible. Well first and foremost what you guys should all notice this right That's liquidity. That's those are big orders. Where do you think we're going? We're going down there eventually because the big money Always gets their way eventually Why because they're the big money and they can push the market down into these orders and they want to get their fills down here They don't want to buy up here obviously So they'll come down here and then the market can go up And it's over and over and every single market. So that's that zone. This is the zone's insane. This is like a hundred Oh, no, this is a bad. I'm sorry. This is a 50 50 tick zone So let's just take a quick look at the lugs. I may trade this There you go right at the uh red lug So the way I trade these and this is this is actually Confluent with where I think we're going with that liquidity So when we're at the red lug and it fails and we get a signal I'll trade the setup aggressively My normal way of trading is if we're above directional yellow I with the only time I short aggressive. I don't short aggressively So say the short setup came down here. I wait for the atr retest fail But if we're if we did the setups at the red lug, then I'll get an aggressively meaning 90% of an atr So let's See what we got going on here atr is Obviously elevated because of the number It's 43.86. So 44 ticks right, so To be aggressive on that so we put 39 and a half 39 and a half so we get around up because there's no half ticks in here So 40 ticks below here. I can short this market Below the bottom of the zone, but I'm you know, I'm So what I'm going to be risking though because this is a large zone I have to risk my entry which is 40 ticks below here and that's actually right through all that liquidity it's not really like that, but Or it's pretty close to it. So it's the bottom of the zone was 09 So that's 71. Right. So that's where I'll enter that Right, but now Look at the risk I have to take here if I want to take this trade, right? Trust me This is it's worth the risk in this market because this this market's moving 300 ticks at a time But I have to risk the 40 ticks. That's the 90% of an ATR if I get filled I have to risk 40 ticks above the zone and then the amount of the zone So you're talking about 140 tick risk here For this trade, right? So you got to determine. Hey, do I want to trade this setup? I'm not willing to risk that much. I mean you just cut down your size Right, but if this thing gets this thing can hold this red lug And this gets motoring down or coming probably to at least here and maybe all the way here And this is huge. This is over 300 300 ticks away, right? So that's how you determine or how I determine whether I want to take that trade or not with that big of a zone All right, so let's see what's going on here Fill of course you little pigs All right, so basically scratch that trade Thought my 90% was going to keep me out of that No dice All right, so we move on to our next trade So I want to make sure we did not get an ATR above this most recent setup If we did then this short is disqualified All right, and then it actually we may put on a long year So the top of this zone was 50 52 we got all the way up to Basically 82 82 and a half So that's 30 points is that ATR Right there. That's not surprising either, right? This is the Algos they they know what the ATR is they're set to ATRs There's Algos that are set to ATRs that just rip it right back once it gets an ATR away from areas So that was pretty much an ATR So what I'm going to do here Let's just make sure because I cost myself money doing this yesterday because it was our natural gas I was complaining about this the other day It was like I didn't it was like a tick away from the ATR And I didn't take the trade and it turned out to be a turn out to be a 300 tick street move That I was not in and it was very disappointing. So 52. Let's just make sure this exact price up here Come on like right there. Look at that. Yeah 1850 so that's above an ATR even right now So I think it's expanding a little bit so Because I got an ATR above this most recent stop run the yellow zone This short setup is now disqualified right now what I can do is if this comes back retest this zone I will go up at 90% on an ATR Right, so I'm dynamically one using the ATR to understand volatility and just determine I'll get back into why I use ATR But that's how I determine volatility and that's how I just determine If this set what the setup is right so if this is truly bearish This setup it should not get a fully if I'm in an ATR above there Right and it did and it went a full AT it went to full ATR So now if her retest fails I can go long because it never got an ATR below this zone. See what I mean And I also know we're still hanging at that market profile bottom Or yeah the bottom of this right and that means this could You got a setup if the if the sellers really wanted to step on the gas there They would have followed that stop run and pushed it right out of here instead it held now. We're back here So Because we're below the yellow lug. I need to see here's your stop run I need to see full ATR which we got retest failure and I will go long If we were above the yellow lug if that stop run happened, I go long aggressively kind of like I'm going Short aggressively natural gas So we'll see what happens here So that's what I was saying about the ATR why I use ATR So when I made the course when I first started watching this volatility was much lower And you have to have a way to determine what the zone is right? I came up with the six difference and there was five in the course We've added one other one called step others can go over that too But you got it. You don't know what this is until it moves away, right? Well, how far should it move away? Well at the time I just had a standard amount of points or ticks So yes, it was three points to determine. Hey is this a Titanic setup or I'm sorry if it goes down below then if it goes more than three points Then that's broken ice if it holds if it gets above three points, then it's a titanic setup So on and so forth. So that was the way I distinguished what what it was As I got you know started watching it more and more, you know, so it was three points in the s it was You stop stop sell in Q 155 contract. All right. So this is a brand new setup. So now that whole idea with the retest failure That's why I wait so do you do you see there, right? I'm like, okay, this could be bullish Did I buy right when it came back in that zone? No, I need to see this get back out of here Then I'll buy it and I just saved myself a potential loser, right? And now you have a new setup on top of it So now we'll hopefully be able to draw this My threshold is usually 150 At least I like to see over 200 like this one was like 180 Trying to determine I'm going to draw this just because it's such an important area in the market profile I normally it's right in the middle of nowhere. I probably wouldn't draw this because the size is just not enough I want to see closer to 200 But this this zone is probably much going to determine what what we're going to do here If we're going to break or hold In my opinion, so let's see So once again because we're below the yellow lug. I need to see full at our retest failure Below here I could and here's the ball trigger. That's really important. I could short this I got to go 90% so that's already putting me. That's basically like 25 points below here. So I'll be shorting like at 86 or something All right, there's your ball So this is what I have to determine now because we're getting closer and closer to this blue lug Do I really this is a this is a great example, right? So here's that's here's the sell stop room Do I want to get in aggressively? The 90% of an atr right here I don't because there's a blue lug and we I know how powerful these lugs are as far as support and resistance Resistance, right? So I can't take that short setup. It doesn't mean that. I don't think we're going I think we're going lower What I need what I need to see personally is New lugs built and you can see here Sure, I can find 15 examples, right? So this is a perfect example going up So when we're coming up here, we built new lugs. There's yellow the new yellow Here's prior red what this is a truly bullish market at the time. What should this do? It should hold prior red It should hold prior red New directional yellow. It's exactly what it did. Try it again when I'll the way up try to get up here No dice. That's a signal right there that something is amiss now to turn around the other way but I digress right so the point is What I need to see now I can't short this this close to look because I know how powerful there It doesn't mean we can't build new lugs just like you saw here But I need to see new lugs and then I'll wait for a new signal of that. I'll go short That's just how I trade it once again that this is the art you can say It's through that man. This is this breaking out of that market profile. I'm in I think we're going to build new lugs And I think we're going to zero great Well, you turn money you do however you want it want to trade it um So this is again now this I will definitely short aggressively if we can get back below here and then outside this All right, I was already short, but I got stopped and I'm just waiting for a new setup It's not surprising. It's bouncing around the show a lot It's kind of like the yellow log is kind of like a point of control of a market profile Area point of control is where the most trade happened, right? That's what that's showing you many times just like yesterday That's where you get the chopping Right So the other thing we want to take a look at too What is the relative volume look like right now? Is it supporting a big move lower? Meaning you want to see So Explain this every week. This this is the seara chart. There's other there's other programs that have this Thicker swim doesn't have it this way and I don't they don't have in this view This is showing you the exact time period For the last 30 days if we are above or below normal So when you see yellow That means it's over 200 meaning two times normal buy that's really important, right? And you can see this down move was over two times normal buy This up move Same so like we were talking about this up move this this right here was probably that these guys that bought Puking them up, right? So the point is you want to be very careful of you're at a really important area Like we are at the market profiles. You want to you don't want to see this volume die down It's just going to sit here and chop your head off, right? You want to see this picking up that means the big money is coming in and then you're going to get the extended move, right? It has it's not too bad, but it's just normal. It's nothing. It's nothing big I mean, do you think we're going to get a you know a major sell-off through that market profile low Composite low if nobody's participating. No, and this is the algos know this right the algos since they have algos that play This is the algos dream when this thing turns Red like that. I think that's red It's that means it's like half the normal volume That's when algos go to town on you and then she's back and forth back and forth back and forth, right? And then this comes in that's the algos worst nightmare And this is some of the best warning signs if it's if you see this a spike like this right in the middle of a range Then you're ready. You're like, okay, it's go time. This is going to move big one way or another, right? And that's what we did Didn't this was a failed breakdown, but whatever it still ended up being a big move and then there was more more right So my point is keep an eye on this at all times to determine You know, you may be a range trader. I hate trading ranges because it's like every time I decide to play the bottom of a range That's when it breaks out and runs me over But there is something to be said for you come down to an important area like we're at in Both markets and there is no volume. There's something to be said for Bating it right you need big money to push this out of here same with Mazdaq So if this volume continues to dissipate then you're you're gonna get a bounce back would be my I guess Right right there both markets very very very important areas. All right. I need a break from talking any questions first Let's take a look here Andrew is bringing up a point here He's just curious how big money can be wrong Are they being run over by other big money or is it accumulation of all retailers? And then also when and why Did you change the entry trigger at 90 percent recall previously it was 75 percent The I went over that already it's because I kept getting I had it at 75 and I kept getting tipped Meaning I would enter a trade and you guys have seen it 300 times just on these webinars, right? So say we got the ATR retest and I would buy it at 80 percent or 75 percent That would be the exact tick and then do that and I wouldn't even if I had a little higher I wouldn't have been I wouldn't even have been felt so that I'm like, okay, let's do 80 made it 80 Yeah 85 Tech so now I have that 90. I'm just I'm just trying to find that sweet spot like I said at the beginning of the webinar That's far enough from the zone where I don't especially get tick. That's what drives me crazy I'm fine with being wrong. You as a trader are going to be wrong Probably half the time right I'm fine with being wrong I want to know why I was wrong, but I'm fine with it What I'm not fine with is five times a day on average I get filled to the exact tick whether Entry and then it comes and that was the high of the move or if I'm you know Say I get longness and I have my stop right here. It comes down ticks me exactly You go that that's what drives me crazy and for 24 years of trading I still can't understand how that happens that often to me personally again That's the oh is me the markets against me. I understand that but Well, I can tell my room every day when it happens five times a day I'm like, I'm so glad this is public you guys can see this publicly So I'm not so I know I'm not imagining this because Most traders don't get ticked like five times in a month. It happens to me every day So five times in a day. So the whole point is I'm trying to find that exact You know here again, that is subjective. You can trade it however you want you can say I'm in 20% ATR after a bunch of them I'm in right when it moves out of the zone. It doesn't you know, you can you can come up with your own way of trading This is the way that I have determined All I've done is stared at this thing for three years of these setups after setup after setup in all of these markets Right. So that's how I trade it. So that's just a sweet spot Um, your other question about while was paper wrong? Is it other paper coming in big money coming in? Yeah, most times it's very rarely a collaboration of retail traders I mean sometimes if they're all buying, you know, puke in or whatever. Yeah, they could be Run over that way. But most of the time it's you know, bigger money. There's someone bigger Fighting them and winning is you know, what's going on and again, you're never going to know Why Certain money is doing what and you're just wasting your time thinking about it I always use the analogy, you know, when you walk in a room and it's dark When you turn on a light, do you need to take the light bulb out and look inside to figure out that it's giving you light? Or are you just happy with the light? It's the same thing with this stuff, right? Know the areas know your volume areas know the volume of that and know they work, right? You don't need to know why someone's selling 7400 sell ice like this morning. Are they hedging? Are they are they getting out of positions? It doesn't matter and you're never going to know the area is what matters So when this market it's got a very good chance to do it comes back into this zone There you're going to see some kind of Reaction because of all the volume that occurred in there And it just gives you information. So say this comes back here and there is no reaction and it goes right through this That's telling you something as well, right? So you may Talk about this every day in my room, right? It's what you expect to happen Is is you take that trade? So say you're like, okay, this was so big. I don't care what happened after that I'm playing a retest into the zone failure. I'm going short, right? And then you get short You're like and it does that And you lose you lose on your trade. So you put your stuff all the way up here and it rips right through there And you're like, damn it. I thought that was I don't understand. You know, this should have helped Right, it should have is the key key phrase should have if that comes up here That's telling you something is off. This thing is gone, right? Same thing Yes, is this example and I was going to actually go over this. There's been no signals in crew today Okay So this is the same type of Thinking right? So if you guys know anything about market structure, what you should or you shouldn't learn because it helps you understand the bigger picture You know what should happen in certain instances. So this is a good example. I was using yesterday. Here's balance, right? Broke down out of this balance came through this should Hold if this is going to continue to be bearish it should hold at least the high volume of that as last stand What did it do? It ripped right through there So if you were if you know anything about market structure, you're like, well, that's a fail. That's a fail breakdown This thing should rip. Did it rip? No So that so if I were okay, remember back what I did this day But if I'm looking at this in bigger picture wise, I'm like, I want to be long This is this thing. This is a failed breakdown. I want to be long. Well, what happened? Did it rip? No It what should have happened didn't happen that should alert you right there So if I was long and I lost I'm like, okay. Well, guess what this thing is going to crash. That's exactly what happened So it's not always what you think is going to happen. You can get the best trades sometimes on what Didn't happen that should have right. So this is another perfect example in crew. Here you go breakdown Came up here. He actually even had more pounds But when we came up to this if this was truly a bearish market Meaning it was going to head back down. It should have held this held this high volume node, right? Well, we got right through there yesterday. So what should happen? We should be doing that. What's happening? That's not happening. It's kind of starting to look like this scenario So you don't you can't really tell now until you get a move out of this So the moves either going to be a big move here But I'm telling you if this thing cannot and say it was actually this guy, right? Got through that big one if this doesn't start motoring up We will make new lows for current stuff So that's what I'm saying what you expect something to happen, which is fine. You take trades that way that's your thesis for the day You take a loss. You're like, okay. Well, why did I just lose long there? This market's supposed to rip up that just gives you information to move down is going to be a monster Right to the same with the same with the volume setups So hopefully that answers your question um I have a question for you scott. I mean regarding the the bigger money and um, uh them being wrong or battling out with other bigger players Also, I mean we've seen like many times Or it seems like, you know as price goes against these larger players. They just average in Over time. I mean you can see it in the look in the liquidity heat map As well as a lot of the iceberg transactions. I just wondering any any kind of thoughts on on that Right. Well, that's what's been happening. That's what happened this morning and we saw it on uh, Thursdays, Thursday, I think it was Tuesday. We're talking about it. We watched it in the room We opened up and uh, someone in the room actually pointed out today. They said cpi This is exactly what happened on cpi. We opened up We ripped and it was like literally like this, but it was way more. It was like I can't remember what it was It was insanity. It was like cell ice cell ice and we kept going higher cell ice cell ice cell ice Then I kind of sat there for a little bit and then just dove. I mean this was basically this day right here So, yeah, that's them averaging in and they just keep keep letting letting them have it That was right here. I think let's see Yeah That was this day Opened up even put in a buying tail. That's bullish and this whole way up. It was like 44 15 Actually down here All this is the gap up so it started before the open two I think and then all the way To the high here was like tens of thousands of cell ice All right It wasn't easy to trade because the zone was so big, but the point is they were averaging and Possibly I don't know nobody knows again unless you're God That's what a person knows what they were doing besides them, right and then They gave it up. You know all these buyers and then I was showing this. This is another example Right with the cumulative cumulative volume So here's the day Back here because there's a misconception on what this is as well See if we can find it what day was What's the date today? What was what was monday's date? No, 411 right or 412 411 So now here it is. This is so this is the monday. Here you go, right? This was fun to watch because I love when the buyers get in hand into them I'm just so sick of this thing being this bid for this long when the world's basically ending so We're up here. This was the move right It started here and this was this is pre-market obviously. So this was This is my time. So 630 my time is Is the open 830 central, right? So they bought a pre-market and then this was they were just buying it there you go This is basically I thought it was 44 15, but it was a little lower this whole way up They were buying it. It was just sell I sell I sell I sell us and this is the problem We're not a problem, but what you want to be aware of that most people don't see that are using cumulative volume They're looking at this and this is cumulative volume. What is cumulative volume cvd on book map, right? What it's telling you is who the aggressor is who is taking Offers or hitting bids. That's what this is telling you. So what all that is is the sell bubbles on book map The sell bubbles are showing you market orders. That's what that is, right? So these were all heavy market buyers this morning Who are wrong as of right now, right? So back to this They were buying buying buying. So if you're just looking at cumulative volume, you're like, yeah, man I want to get long. Look at this. These buyers are winning. It's just going straight up. They're at Plus 20,000 for the day meaning 20,000 and this is where I just got an argument There's a big thing on twitter about more buyers than sellers. There's never more buyers than sellers. There's aggressive buyers aggressive sellers, right? So the aggressive buyers there can't be more buyers than seller because there's got to be someone on the other side for the country There can be different prices, but there's never more sellers and buyers more buyers and sellers It's who the aggressor. So this is showing you this isn't showing you more buyers It's showing you more aggressive buyers. They were taking offers. So hopefully that clarifies that So if you were just trading cvd, you're like, yeah, man, they're 20,000 this thing We're up here. You don't say you don't have a lot of you don't have these These incredible loves right and you're like, yeah, this thing is going this we're going back to 4,500 Well, you didn't know you don't know looking at this basic cvd that this entire move up was like 30,000 sell ice or whatever. I can't remember the exact amount, but it was ridiculous We were just in the room like oh my god. It was just yeah sell ice sell for like an hour or more Right so all these buyers that were all aggressive ran into and they could have been cost it you know averaging in like you said Bruce the sell ice and then They gave it up and I just it broke. Actually, let's see No, let's see it held it held for a while and then it gave it up right So it was inside the zoning for a while And then oh, I even said in the room I'm like you can feel the breath holding right because all these buyers were like, oh no All right, and then you can see the starting to come down and then They puked it and we dropped like 60 points or something so The point is the cvd does not give you the whole story. I mean look at that move down That was into the close and we caught that right um But just knowing what's going on bigger picture really helps all these buyers You the the SI indicator the most powerful thing I've ever seen in futures trading let you know Hey, yeah, they're buying but the big money is is They're absorbing all of these Aggressive buyers and then when the aggressive buyers are wrong And they puke them out And that's trading that's what's happening in these markets and every market all day long And if you can distinguish when that's occurring and what's you know big size What's not and what the big money is doing with the dumb money is doing then you have the ultimate edge There's no bigger edge than knowing what the real-time buy-in is is up to I'm going to clear out some of that stuff because give me attic. Um, we're still trading out I don't think did we get an atr above here while I was chirping See this was at 30 36 quarter we got all the way up to 67. Yeah, that was an atr. So I should be getting long this alone Right atr is 31.66. It's amazing how I mean look at that. That's the exact atr again Right So, um, let me just get let me buy this right now and then we'll determine if I have the right size on Again, when I'm doing these webinars, it's hard to keep track of all this Um, all right. So and again, this wasn't this wasn't a ton of volume either, right? This was that 143 stop loss or stop stop run, right right there And I said normally I won't even draw that but we're at that bottom of the market profile So I'll play it to the long side if it if I got the atr. So that was that We got an atr above here. Here's your retest 90 percent. I just got to make sure I did this, right? So 31.68 if you're getting atr Getting half 28.5 is the atr 90 percent. So I needed to get in at 54 55 Right or 54 half almost exactly. Look at that. Look how good I am Hopefully that works, but but you can see it's having a trouble getting through this prior zone. This is I'm telling you guys like this You really want to know where these because again, it's it's failed. It might fail again I'll stop out, but that's just information if this rips through here. That's information as well Like, okay, this this isn't old anymore. They're we're gonna rip Right, so I'm long that we'll see what happens again. I'm not thrilled about the size that was down here But like I said, this is an important area as far as market profiles. So if I lose on this, that's then fine That's information. We're going to be out of that profile and I'm just going to be just Foaming at the mouth to sell this thing if this breaks you can see it held this prior one too So we try to get out of this current held right here, let me make this you can see it Just most recently tried to get out of this prior one here that I left because it was important And it still remains to be important. You couldn't get through there. Now. We're back in here That this holds your expectations can go to the other side if it breaks I'll lose on this trade, but guess what you're going to see a huge sell-off would be my guess So cumulative volume is going down here meaning the sellers are aggressive Obviously, this is part stop runs are part of this right, but this is going down So many times you want to look for divergence is an important area. So say this pops up Say we do get a rally and it pops up here and you see cumulative volume is continuing to go down Well, that's like a warning. It's not red light green light That doesn't mean you just sell it because you will get killed by doing that take it from me But you want to note that you're like, hey, well, there's a big rally But the sellers are still drilling this thing, right? And then if you get your get a boat bearer set up up here that you turn around and flip and go the other way Right now this looks like it's gonna At least get back to the yellow lug and then I will get out of one of these The other thing I didn't check is how much I should have on right here We'll check that here in a second But I the lugs confluent with something else are really good places to get out of some most of your contracts You got vwap downward sloping vwap at yellow lug. So if this doesn't make it up here It's about 90 points away. I will cover at least one of the two Now I got to determine how many I should have on which I should have done Again, it's harder to do on these webinars, but Because I got to be flipping back and forth between screens. So ATR is 32 now. So that's 64 points of risk and then how far how big was the zone? So almost 36 down to 22. So that's what 78 points of risk, right? And then that's when you go to your little handy dandy risk calculator the risk Is the NQ here Now I forgot what I said What is a 78? So you go down to 78 So I got the right amount on a tulip This is based on so this is based on my auto trader I didn't put this trade on my auto trader that I you can see on my website. You guys want information on that but this is the Basically the value of the auto trader $12,700 so I checked micros in that we went over this last week And I you want to be risking at most 2% of your account value Right Usually 1.5 to 2% so if you're trading micros and you only have $12,700 account And you don't even have to change this this is showing you the normal contracts based on 127,000 our account, right? So that means I could put on $2,500 of risk per trade risking 2% of that Account value if I'm trading micros it's 12 7 still 2% that's 254 dollars instead of 2,500 So I have the right size on Now we'll see what's going on here We needed we needed to get through this zone that it keeps struggling with Did it here too? So Vic is popping here. You should be getting some stop runs then we can add to the straight See if we can get it up to minimum yellow lug Let's see natural gas I never got filled on this I think something else came in So Let's see if this even qualifies for a short setup anymore if we got it more than an atr above here And I don't think I finished with my atr explanation. So 62 is the top We got all the way up to so this is over 70 points away, right? That's well over an atr atr is 48 and a half So this is disqualified as a short setup Then we have to wait for something now So back to my atr stuff So again, I used to use just a standard amount to determine what to do You know once we got away from the zone So ES was three points nasiq was 10 points gold crude were 10 ticks Well, that is not incorporating the current volatility, right? Like It worked when the volatility was low. That was that was a great That was a great way to decide You know what what these setups were now I use a full five-minute atr to determine Otherwise, you don't know what the what the setup is, right? So the point is if this is truly bearish The stop run turns into a stop and oh what should be getting a full Five-minute atr above here. That means it's not bearish In my in my view, right? So that's why I use atr versus a standard amount of ticks Which you should too because you're you're you're adjusting to the current volatility You could use 10 points, but I'm telling you you use 10 points when the nasiq atr is 50 The thing literally moves 10 points and uh, you blink your eye and it's 10 points So that's not telling you anything, right? So you you need to be adjusting to the current atr I'm going to say that's a science, too That's not really an art that you need to be paying attention to that Where you're just going to be throwing away money As far as putting your stops in the areas that don't matter, right? All right any other questions first Let's take a quick look all good in youtube and no, we're all good here. Also in discord Ready So gold here I didn't miss a trade here. Oh, what happened here? This is exactly what this is in line with my thesis of bullish, right? And what just happened? We had the dumb and dumber down there remember we failed to get in that market profile composite I'll show that again in a second and you got this That's an atr atr here is 27 it was a little higher when that fired off, but It definitely got over the high of the atr today. It was like 35. That's more than 35 ticks Here's your retest So the two markets that retest the most or there's three markets that retest the most I'd say number one is crude number tied for two Actually tied for one is natural gas and crude, but a close second is gold So you don't have to be chasing stuff. You can wait for your retest failure Exactly what's happening here Um, so I forgot where we were in the logs here There's a reason I was waiting for a retest anything Oh, yeah, remember I said we're I'm pretty sure we had new I don't know why this is not drawing new logs I wish she was on this webinar so she can so she's in our trade room So it's great where you can you get a problem. You just literally just type her name in there and she responds, but These should be new logs, but regardless I know You know the new lugs are drawn yellow would be right around here Rats down or blues down here rides up here. So I was that's why I was waiting for retest failure So now I will go along this market Here's your retest shocker It's like I've seen these these movies before or something Again 28.5 So let's figure out 90 of that That is 25.65 so when we're hung up because it's It's full ticks 26 ticks above here the top of this cell and is 08 34 And I want to determine how much I can trade just like we did or the size I can train Just like I did with NASDAQ. So I'm not over trading my account right so 26 ticks Enter 26 ticks below the zone. That's 52 ticks. And then the zone is another it looks like 17 to 18 ticks So that what I say 52 and 18 so that's 70 ticks of risk So then you take your calculator Go down to 72 I can put four on It's pretty close Now, do you see this is just like the other one I came up with Mark I just showed but am I buying just because it's in here you could you could say first retest I'm getting it I don't need to wait for 90% of an ATR go for it I've just from the again thousands of setups I've watched the best entry is waiting for it to get out of here because you don't want to risk this than that So if this rejects again, then you know, you got a pretty damn good chance for this to rip Right, that's why that's why I trade it that way So that's what I will do there Adrian has a question here for you. I asked a few times How do you interpret in your drawings of the icebergs? On screen That the small that they That are small in number but long in time horizontal line I didn't quite understand it, but I think like you're drawing up your lines and then you you know Maybe it was a smaller iceberg, but you're still Do you go back and I guess refer to it? I don't really understand the question I mean if you're saying small size, well, that's why I look at that's why I have this on recent moments So this is an example, right? So if this was just one stop run I probably know I mean it's my my threshold for gold is 150 But on its own this was basically a threshold And if you get another one right after that, well, then you can draw that down So if you're getting you know, you come into an area and you see like It happens in the yes all the time see if we can find it in here get rid of this middle zone here It's gonna be headache So I mean this is well a good example was A good example he's asking is like the long iceberg on gold right now The long iceberg on gold It's been running for a while. He said but I guess you're hitting that hitting that zone You drew your lines there Well, the zone is from the stop run. It's not from any icebergs This was 120 cell ice. That's not threshold on the bottom, I guess I don't know who's referring to But what I was getting at is if you know, you see an area Where it goes like it's not threshold, but say it pops up and it's like One 110 then right after that 140 and 180 80 200 Whatever you can make that whole area where whatever price is incorporated that You make that one zone. Okay. I don't okay. I think he's talking about um, and uh, adrian This is drawn by book map. Uh, there's a live iceberg that has not filled completely Uh, 67 have traded scott. Just go back to the screen. You were just looking at school school. Um See the bottom. Yeah, see see how it's like still in the Yeah, go go back to the live market Scott Yeah, see see the white line the 67 down there Yeah, yeah, so that that's that's the uh, there's a, um, uh A toggle, um button in book map if you want to show the Uh icebergs that are still active like, you know, uh in in, uh, right? Yeah, yeah um, and uh You know it it it has not completed yet. It has not been pulled It has transacted 67. There's only been one transaction Uh, so far, uh, there might be multiple, uh You know the last transaction was for one So, uh, anyway, that's what it's showing It's pretty pretty amazing to be able to see that that it hasn't been fully executed has not been cancelled It is still sitting there in the market You'll see also when I unclick this you can see how it disappears, right? And you also see like how they may move it too and you'll see all of that activity which is Pretty pretty incredible, right? But this doesn't you know, again, this is nothing 67 lots is not a big deal, but yeah, we don't know Might be though. I mean it could be but this this is the thing, right? You've got to be careful This is where guys make mistakes using this on chart, right? I need to see Concentrated volume in one area That's what moves markets, right? So say this is a thousand iceberg, right? Yeah, that's good to know and that's what's showing you But say it comes down here and this thing tags 15 times every time I like draws out another hundred another hundred another 80 Yeah, I mean, it's good to know that there's one guy buying here But is that so say it comes down the the 15th time and and there's like 90 left out of the thousand that traded So, you know 910 traded and then there's 90 left Well, is that 90 on this next move down? Is that last 90 lot gonna hold the market from Pumbling through here. No So that that's what yeah, yeah, there was a thousand here, but it was drilled so many different times I want to see when the market comes down and runs into a thousand a thousand Buy ice in one area. I mean at one time see what I'm saying So if it's if it's convoluted you want to be careful of saying Like this drags over and you see thousand you're like, oh, there's a thousand buy ice. I'm going along Well, yeah, but it got tagged 45 times this last move down was only 90 90 of them. It's going to go right through there. You see what I'm saying? So I want to see concentrated buy ice sell ice areas Not You know, but it's good to know. Yeah, absolutely But I'm just saying be careful it with this number if it's tagged a bunch of times and now that's the last one Is there's a little bit left it's going to go most likely go right through that because that's not the current Trade what's happening right now. Does that make sense Bruce? Yeah. Yeah, absolutely And and that's why you have the alerts set up the way that you do So you're looking for a threshold alert and then the the audio alert Right, and then that's where you set this stuff up. Then that's for the sub chart, right? And you want to make sure? So I use my stop. This is gold, right? I'm on reset my Icebergs are at a minute because icebergs is not going to obviously keep me. I don't want my stop Stop orders being more than 10 seconds because stops are usually quick. That's what I want to see the quick move The quick puke, right that you shouldn't have stops over three minutes. It's not really a stop Then in my opinion, I mean there's still stops in there, but I want to see that one concentrated puke That's why I have for 10 seconds. Then so this is which this is showing you All right, and then this is your audio alerts You want to make sure these match this or you will be getting you will be getting signals Down here that don't match what your little computer guy is reading to you, right? So once again I got 150 so I do not hear anything unless it's at least 150 and there's your stops 10 seconds I don't know why they have these opposite. Did she tell them to put new version might? I mean, why do you have stops on top of up here? It's just confusing, right Or at the bottom so you have On the on the sub chart stuff you have icebergs on the top and then you come down here This should be icebergs on top. That's just makes it easier to understand especially if you're new to it. You shouldn't have Down here, but that's my opinion So anyway 150 for 10 and then icebergs 150 for 60 and then I have what I want to say You can literally put that anything you want in here You could say hey gold ice you moron or hey heads up huge money huge money ahead Whatever you want make it funny. You got to laugh in trading guys We were doing the other day I we were playing we wanted the market to go the one day we I had a guy I think I told the story last time But we had one guy in my firm that every time we wanted the market to go up He played the jefferson's moving on up So we've done that a couple times if I have multiple positions on like nazik and es I'll play that and then last week friday this friday afternoon We played uh, we were all short and we played Highway to hell and then what was the other one? Oh Burning down the house the burning that highway to hell didn't work And as soon as we turn on burning down the house the market slowed off like 20 points So that was fun The point is you have to laugh when you're trading or as you literally will be put away in a loony bin I do anyway And that's why I talk to myself too because if not my head will explode Any other questions bruce? There's not a lot going on here besides getting tortured by this And again, I think we're caught up here. There's a reason we're being tortured. What's the reason? Because there's no big money playing And you're just getting Algoed right now. So if you aren't participating in this you're getting algoed right now. That's what that is There is no big money coming in Look at the rest. I mean look at these. This is terrible. Remember. I know it's a bad time of day You know again, you guys have seen my p&l I'll show you again just to hammer it home into your head But from 10 to 12 central I get killed and I've always gotten killed. I got killed when I was scalping I've lost millions and millions and millions of dollars between 10 and 12 Right, that's because that's when the big money goes to lunch to york They're you know, they they step away from the screens and then the algos take over the algos. No There's no big money coming in which is their their worst enemy and then they start to do this to you Okay, so once again just to hammer it home. I'm sure every week Here's my p&l so total 43,000 that's before commission. So 39,000. This is since like mid december Again trading tiny guys. I am not this is not trading like 20 lots. This is trading two lots, right? So this is I know there's a lot of guys looking like okay I actually had one guy email me. He's like, how do you think you're going to make a living with them? Well, it's like, okay. Well, this is what my account size right now permits me to trade and you know So Average lot of probably a two lot, right? I would say it. So if I'm trading a 20 lot This is $400,000. That's a good return for three months, right? So the point is don't Focus so much on that. This is what you need to focus on Right, you guys should all be using this. There's deals on my website for everything including this Speaking of that, you add that up either nothing's going on that stick strike. Oh and by the way while I remember He actually messaged me yesterday in skype They have Again, there's discounts to this on my website too. This is stick strike It's telling you the it's an awesome indicator to know audio indicator to let you know what's going on You know in other markets if you're not watching them and you can set this this this meter from 1 to 15 15 means it's max buying or selling so on and so forth So you're going to know like when we're moving down do you want it? You want to see these stocks getting hammered, right? If they're not that's telling you something you better be careful type of thing or you can use it I use it to know like I'll know like if soybean starts getting start getting killed or they're buying get like crazy Because I can't look at everything at one time. So what he told me is sunday is the last day they have a lifetime deal They're taking that away on sunday. So just so you guys know he told me to pass that along So now this the trader sink against on my site. You could deal so this as well You should all be using something like this. I used to use trader view This is trader view on steroids times a thousand like this thing's awesome Again, I really need to dive in now everything it does but in the basic sense you go over here Look at my hourly P&L I show this I mean it's getting even worse. Look look at this look at the like I'm talking to myself And I keep trading at this type of day. It's harder to do because of my trade room and stuff But I mean are you kidding me? So my P&L is plus 43 thousand dollars Look how much I've lost it from the night from the 10 to 11 This is showing nine o'clock, but it's really the 10 o'clock because it didn't adjust to the time saving daylight savings From 10 to 11 central. I have lost 62 thousand dollars Like that is just not acceptable. What oh, how do you avoid that? Oh, how about leaving? How about going to work out? How about meditating anything get away from the screen? I'm talking to myself again for the four thousandth time in 24 years The next time from 11 to 12 is not much better I gave away 28 so you're talking almost What is that 90 thousand dollars if I so my P&L right now would be Over 100 grand trading basically average of two lots If I didn't trade this time of day now if that's not eye-opening for you guys I don't know what is so you should know this stuff You should know when your best trading times are you should know your day of the week once again mondays. I got smoked on monday per usual This monday Right, look at that if I don't trade on mondays or trade half size or trade simulator on mondays, right? You can make exceptions right just like you can make exceptions to the hour, right? So you shouldn't for me. I should not be trading at this time of day unless what? unless I see This So I you can make a rule for yourself right because I guarantee I'm not the only one that gets smoked at that time of day because this is what starts to happen So you can make a rule for yourself I do not trade between 9 and 11 you shouldn't even be at your screen But if you are you shouldn't be trading unless you start to see Two times more volume that you could maybe say I need to see two times 200 percent more volume And at least two bars the part of two bars then then I could trade right um That can be an exception kind of like the same thing with the with the days of the week right so monday I should say I should back off trade half size unless Mondays I see huge relative volume coming in At the open and so on then I could trade right this is just ways you can avoid this guys There's just no reason to be given away this kind of money and I'll go fest time. There's just no reason It's just dumb and I keep saying and you know, maybe in another 25 years. I'll uh I'll heat it But so I got off course there So again, most people say oh, yeah, of course, this is bad time But this is this is not showing you so this chart is I'm not going to show that one right now, but this is showing you this exact time period So if you see this thing not even making 100 at this time period, then you really know it's bad Right, you should be at least be seeing 100 which means at You know 10 23 the 10 20 to 10 20 to 10 25 time period For the last 30 days, this is basically normal. Okay, that doesn't mean it's good trade, right? But what I'm saying is if you start seeing it's at 50 percent On top of being a bad time period you are I'm telling you this is most likely going to happen to you So if you like being whipsawed then trade it Again, you could trade ranges. You can be like I'm going to get long there I'm going to get short there fine But it's going to break out here eventually and I'm telling you every time I decide to do that Or did when I used to do that. That's the time that it broke out. So I stopped doing that Here you go, this is why I wait for retest failure If I just bought it in the zone, I know that just got smoked, right? Didn't didn't fail. This is now canceled. This idea is done. We have a new setup We turn it off of that. We have a new volume of that. We turn it off of that We have a little tick straight going. This is good for my long Obviously, you see that these are the highest weighted stocks These are the Fang stocks that are the highest weighted in S&P and Aztec Let's enjoy our little run here. There you go Run like the wind So let's draw this in. I'm going to get rid of this one So here's a here's a good example. Here's that. Here's that iceberg. It's still in there It's good to know the 71 a lot. No Not on this test, right? This is 234 cell ice on top of it And you can see that line here too. A lot of that is one house as well. You can see 112 there, right? And let's get rid of this Pick where it started Follow along follow the prices to where it ended. You're on your zone. I use black for cell ice Now, let's see if the new logs have finally been drawn I'm not holding my breath because I think I need to restart my zero chart for some reason They're just not they're not working in gold for some reason, but Oh, well, I have that but what's most important where we add again if you guys remember another attempt Right This is look at this That's this puppy right here. That's from And a march All right, you can see it's still relevant even though we've traded through it So, you know when you trade through a pro composite like this See how I cut this one off because we traded through and made this huge one You know, you can you can cut it off But if the market keeps respecting it you don't want to you'd want to leave it and this market keeps respecting this Again yesterday launched out of it try to get back inside. Nope today try to get inside. Nope. Here's another attempt So and here's your volume event I can I'll tell you right now this there is no better edge than These and love with levels as well, but I don't have those up right now obviously, but These market profile composites with a real-time volume event Whatever way this breaks is going to be very very likely the next move You have to probably favor this right because it's tried a couple times I know this market is bullish, but it doesn't mean we can't pull down to this and we're day traders Right, so you could take advantage of this 70 tick move here potentially at least to the bottom to the top of this guy Right. So once again, though, here's your sell ice. This should hold if it's going to get inside here If this rejects again, then you're finally probably going to get the rip That's why you want to know your real-time volume. What's happening guys looking at bar charts have no idea That someone just came in and sold 234 Hidden sellers That's pretty important information It is the information so again It's here is 28.2 It's 28.65 or 25.65. So it's 26 ticks So you so here's an example too, right like I've been saying I don't know where we are in the loves I'm assuming we're below the yellowed now But we're at a market pro that that top of that market profile You could say I'm taking this as soon as we move 90% out of here or 80 or 70 or whatever you want You could be aggressive in this situation Meaning if this fails again to get inside that market profile composite and we come up here You can't you can't get in aggressively I would not give you a verbal lashing in my room if you didn't wait for retest failure But you saw waiting for retest failure that just saved me A big loss one. I didn't get in in this trade aggressively I would have taken the loss two. I didn't get in this trade aggressively when I came back to the zone I would have taken the loss. I was waiting for that So you would probably behoove you to do the same thing because again, this is a close second for markets that retest the zones So you don't need to chase it. You can wait and then if it fails again, then you get in And especially because above this stop stop area. Bye. Bye So I'll wait for retest failure. All right Bruce. We're not on gas here. Any other questions? No, no, I think that was an excellent rant That was pretty mild. That wasn't even a rant Yeah, all your rant was me yelling at myself about the 10 to 12 time period. That wasn't my rant No, no, I think I think we're all caught up here on on questions and uh, uh, markets are closed tomorrow And Scott I put your information both in uh in youtube and uh the um Discord chat there. So if you guys have any questions, uh, and about You know Scott's trading as well as some of the things that the offers trading room and and uh other other stuff His course, etc. Uh, you can you can find it there. Um, and uh, just one more note. Um The um no webinar tomorrow, uh, we are you know, and the markets are closed Uh, however, uh, I may um, I I need to kind of look into it. I'm we may hold an event. Uh, Anyway, uh at this time uh in the morning I'm not sure yet. I'll let you guys know in in discord. Uh, and uh, It'll be a special event though on building a trading plan All right, we're gonna get more involved into that So, uh, just want to kind of float that idea out there, but I'll let you know more details Later, okay Yeah, that's very important. Obviously, it's the most important So that's what basically the setups are right? That's my trading plan and I have rules And if you don't have rules and you're in here flipping flipping orders in and out You're not going to make 100% no chance So you need you need to trade if your elbows are 80 or 90 percent of the market If you are trading against algos, you probably want to trade like an algal So trading plan with rules With your risk monitor, you know trade according to your your risk, which is you're risking on your account And then you just put on the trades and then that's a percentage game Right, and you know if you know you have an edge and I'm telling you if you use this you have the most Powerful edge you can possibly have in futures trading if you do all that and you follow your rules You will Make money That's it That's that's what we're looking for Absolutely All right. Well, happy Easter everybody and uh, I will see you next Thursday. Yeah, thank you. Thank you very much See you guys every day in my trading room as well Surely Yeah, happy Easter, uh, and uh, yeah, we'll um, we'll catch up with you next week Okay, great. Talk to you guys later. Thanks. Okay. Thanks Scott. Bye. Bye