 Okay, good morning traders and welcome to the live trading webinar today with Scott Pulsini. Do this every Thursday, it's part of the free education that you get with us and the whole concept here is that we have an educational course about order flow and then we have these daily advanced webinars and then we have live trading from two different professional traders yesterday J trader today Scott Pulsini on futures J trader stocks so you get a very complete package here that's the concept and yeah join us ask questions and you know you're getting to the opportunity to peek over the shoulder of a highly professional trader here he does offer mentoring services and education I will put this into the chat if you're interested you've got Scott's email his trading room his website and a course that he offers here so we'll take it from there and let's go over the risk disclosures and then jump right into the market this is important though the general disclosure all book map limited materials information and presentations are for educational purposes only and should not be considered specific investment advice no recommendations 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 the risk disclosure trading futures equities and digital currencies involves substantial risk of loss and is not suitable for all investors past performance I'm sorry 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 Scott take it away if you are presenting so it'd be nice for by zs 165 contracts got it my screen yep all set to go there's currently I'm short here yes stop earlier down here I have 17 and then right after that there was another 400 so you have 900 stops you can see it on the chart when condensed we did give an ATR below here five minute at the time I think it was like seven and a half still is over seven and I was waiting for retest failure on this we were below the yellow log but at the time the edge that I'm one of the products I look at to you know see the current conditions if we're oversold or overbought was extremely oversold so I was waiting for this pop which is exactly what happened I was warning my room to watch this even though these markets are extremely bearish right now obviously it's a pop so that was right around this point you see it we're at like 92% or something 91% oversold so you guys not familiar with that it's just a past product that shows you all the stocks in the mini S&P or NASDAQ that's got NASDAQ Dow and even the S&P so just showing you how many are above or below their task box as well sure this many market profiles this isn't working guys my drawer isn't working so I gotta restart it so it's a story of my life technology every day so anyway this was that 90% so when you get that oversold like up here I mean a hundred obviously is the max right you can see the percentages over here the market is going to bounce so it's not you know you could just blindly buy it at those points but it's a little riskier because some someday like we said the other day it's probably one out of 50 times that it happens but it'll just stay at like minus 85% or not minus but 85% oversold the market goes down another 10-15 points so I use it to you know kind of time my entries where I'm not chasing the market down and I waited for that pop and then this never got an ATR above this zone and then when I came back down I shorted it so currently short over these markets here in a second pretty bearish so I was short overnight as well we got short of my room train room at the end of the day yesterday and I held some of it I only had one ES on but I had a couple NASDAQ on we'll go over that here in a second I've been waiting for so I did get out of one NASDAQ here and this was the overnight trade right you know this was at the point of control I'll show you the market profile that's when the edge was at 91% so I just got out of one I still have one on that was this pop and I'm just waiting for something to either add to this trade or I can trail my stop to get out of this short but this thing could keep going my ultimate goal here was the blue look blue lug which I still think we're gonna get to we're getting closer and closer but there was yesterday afternoon there was some big by ice here it was a broken ice setup we got the ATR retest and I got short and then I told my room I was gonna hold it because of everything that happened after CPI yesterday there was huge volume I said once the European market opens this thing should get smushed and that's exactly what happened and I don't think that we can get down to there but so I'm getting out of this the short I'm gonna increase my threshold and so I mean just been firing off way too much and I go to the chart and there's not a ton here this is 164 but I like 200 or more anyway and saving so right so again blue lug or bust or an opposing signal I dig it out of one of the NASDAQ and when that that just oversold and we were right here at this point of control I was right here and it did pop and that we're back down here so I still have one of those on and current trade that I just put on is this ES trade I'm gonna be watching this blue lug very closely that is down at 37 19 ish 37 19 quarter I will be hopping out there unless I see some major relative volume pushing through that area you can see this is not crazy relative volume right now so I would be getting on a blue you know if I'm gonna hold on to blue blue and red lugs are very in Ludwig levels that I use for my day trading for targets so on and so forth they're very powerful and they usually are very good support and resistance so I don't mess with them on the market gets there unless I see this kind of relative volume or it's you know that's the big money playing so at this point it's looking like I'm just gonna hop out of the blue love to get down there right now so on this yes short so again I entered this trade ATR was seven and a half we did get new lugs just go over this real quick so Ludwig levels again you know if you're new to these webinars I use them you can go to a website love with levels calm say you saw I'm on the book map webinar and you get a special pricing for you guys but they're very very powerful so anyway we built new lugs here this was a setup basically right in here I was waiting again I normally since we're below the old log I'll take shorts aggressively out of the zone one ATR out of the zone but that edge was so oversold so I waited and we got the you know bounce back retest failure it never got an ATR above here so this was still a valid set up to short and that's why I'm sure so ATR retest failure I mean I actually had too many on I had four on and I've been risking like 20 something points on this trade so that's why that's that buy arrow you can see I got short in here somewhere can't really see it it's behind one of these swipes right there can't really see it so that's it somewhere for 3518 you can see down here there's some significant spot gamma levels as well see if we can get there sure I'll be tortured here for a little bit and as usual but I guess I can't complain because I caught up even though I didn't sleep very well that's why I hate putting on positions overnight because I'm waking up all night checking the market and it definitely fixtures sleep pattern that's that another market I'm watching some stuff in wheat so right at the open you can see this is above threshold 295 it's on actually double threshold that's this buy ice on this blue zone we did get an ATR above there we got six cents above there and now this is the retest of the zone so this was right at the yellow log which we'll talk about but if we go ATR retest failure I will go long if this does break below here in ATR then I will this does not this is disqualified as a short set up because we did get the full ATR above there right so if this does break obviously I'm not going long because it didn't it did the retest but not the failure out of here I won't go short this particular setup but I'll be looking for something new and the ATR in here currently again that these are just five minute ATRs and average to range that is what I've deemed ideal for day trading the five minute ATR was always asking me why don't use a minute want to use an hour because a minute's too short of a time frame in my opinion and an hour is way too long so I use that so you can see the ATR right now is 4.24 so four and a quarter cents so this did get obviously four and a quarter cents out of here here's a retest I'm looking for failure to go long just outside four and a quarter cents and I will go long if this breaks this then this is disqualified as a short set up because we already did the ATR but I'll be looking for something new and I'll be remembering that that didn't hold that's kind of a signal something's up to the downside right if this breaks liquidity you can see where we're most likely headed right so this helps you when you're coming up with a thesis for the day and what's going on looking at the bigger picture so on and so forth then you pull up your real-time volume which is the most important I say it every time this is what it has been in here forever right like long-time liquidity when you see liquidity near for this long it means they want to get hit right so it's it's so dark because you can see relative this is a ton of volume versus what's in here you know three lots and seven lots so these guys want to get filled if they're willing to leave it in here if some new story comes out they know they're gonna get filled that means they want to get filled and that means these are magnets in the market will get here eventually probably sooner than later so you can use that when determining you know your bigger picture stuff let's just take a quick look here so this is a zone I drew from way back here I'm gonna go back and look at that right now it's not a big deal as far as I just know it's important you can see we're kind of building balance here this was also where this gapped up from so this is an important zone we break this and we're coming down probably to these areas and that's where this liquidity is all right here so that's what's looking like may happen here if this thing can't bounce out of this zone but if it does I'm going to go long set four and a quarter points so I'm gonna go a little outside that and I'll go five cents out of here that's where I'll go long I can fold on that then my stop goes five cents below the bottom of the zone and that's how I trade that's the best way that I've determined over the years of watching this trading thousands of these the best way that you don't get out of which is 85 plus percent of the trade in the market is to force them force the market to get through the volume event and a full ATR again if I'm filling on that that's what I'm forcing this market to do so I'm risking 20 plus cents but the ATR is telling me that this thing could be moving you know multiples of that so that's the whole idea behind it so if we get filled there you have a spot gamma level down here again I'm not getting out here unless I mean if we get down that spot gamma level and we're extremely oversold on the edge and I'll potentially get out of that Nasvek otherwise I'm blue lug or bust or opposing signal there's just nothing going on right now and then the old tick strike waterboarding nothing in here either then I'm Russell I think I missed it though this was threshold you can see it on chart you can see in sub chart you guys when you're drawing these zones I found it's just much better to use a sub chart I mean this will help you but I like the sub chart with the spike area to draw my zones sub charts net net so I like it meaning net net stops net net iceberg usually not getting dual dueling stops even though you do so we saw one yesterday at Nasdaq but like icebergs it's showing you net net so if there was a thousand icebergs by icebergs thousand cell icebergs it's going to show a zero on the chart right so I like to see the spikes for that it could overwhelm to one side that's why I don't draw them from just the chart because the charts just showing you the one one side it's not net net and here is currently 47 ticks excuse me did we get 47 ticks below here you know we did not bottom this one was at 52 I'm just talking about the last two digits we got down to 26 and we never got an ATR above her so this zone is not we've got an ATR above or below so I don't know what this is yet is a stop run stop and hold where the dumb money pukes and then the real money comes behind it keeps pushing it down or is this a dumb and dumber where the dumb money pukes problems with my mouse dumb money pukes and it's not real selling because stop runs are not real selling yet selling but it's not somebody initiating cells to initiate positions it's I mean most times obviously you could stop in it but stop into a position but most of the time this guy's puking so and majority of the time and that's just the one time event and then it turns around and rips the other way so yeah we don't know what this is until this gets an ATR out of here as far as my six setups wait and see that I'm that guest members coming out today to crew this was a nice trade I didn't take this one because we were above the old look at the time but this was a stop or an almost a dummy landing where you get cell stop runs it to the waiting hands of the buy ice this wasn't quite threshold buy ice but this is definitely threshold he had 187 here my threshold for crew to 150 and then you had another 70 years he had almost 250 stops in this area you can see it just ripped down from there and now here we go on the potential retest I will I'll take a short air and retest failure this market's in trouble we've been catching shorts in here last week or so you know overall this is a major balance breakdown going back months now we're here it doesn't mean you can't you know retest it could even retest the high-five note of this thing but this looks like just imagine if you're a big fun big trader and you're in long in here you've been holding it the whole time what are you thinking now I'm in trouble oh yeah I bought some up at 120 yeah now we're at 90 it's time that time to puke them up right so that's what balance there is our balance areas our traders placing bets right and that's fractal doesn't matter what time period you're looking at obviously the longer the time period the more powerful it is but they're you know even on a five minute time frame it's still traders placing bets somebody's gonna be right somebody's gonna be wrong see right now we're building a little bit of balance there's all it markets are in two states during the balancing or they're in fractional conviction right so this is it's tiny obviously but these are traders placing bets or elbows running traders back and forth whatever either way there's guys getting in and out right this was this was balance area this was about this is overnight I'm just giving you guys examples here is a breakdown here was a retest to the bottom and a failure all right so you could draw these for five minute one minute hourly monthly doesn't matter it's all fractal but what doesn't matter is understanding them and how the market moves out of them retest where it should retest and hold if it's gonna continue in that direction so on and so forth so anyway we are now in this crude we did break down from this large and then there was a smaller one here this is an area where it looks like it's bouncing I had this zone drawn from and you know I try to draw these zones from the actual event so this is a way back when but this turned out to be perfectly in line this drug my drawer tools and not working well today that's not me I'm not drunk I'm a little tired from watching positions all night but that's the I buy a node that's that zone that's not why I drew it I drew this from some way back here but you can see it's still relevant this was also a monster gap up day that eventually led to this huge move up right so this is a really important zone you had a straight B line move into it it's good balance here but on the flip side you know there have been no bullish setups down here let's miss one down here let's see that was close to threshold but not quite but it did turn out to be a stop and all it looks like if I were to draw this again I try to state over 150 on my zones but you know if you draw that zone so I get questions all the time when could you trade could you trade prior zones I always like to default to the most recent zone so you could draw that zone and trade off of that and this is done with but if that zone led to directional conviction you want to pay attention to it on the first retest right so this zone definitely led to directional conviction you can see it broke down out of here and it was just a straight hesitate a little bit here but that was a straight move so I'm moving to here we'll be in a retest failure that'll be a good percent odds percentage short so you watching that unless something new comes in something new comes in now I'll just trade off of that you can see this is what drove again things fractal this was small balance overnight try to break out fail breakout my favorite trade got to dive I know directional conviction now is that stopping right now so pretty quiet though waiting for something to happen natural bass number comes out in five minutes this is being tortured other things you want to pay attention to this is a trend down day ADD advanced to climb line and you see it under 2000 you want to be very very careful buying right doesn't mean we can't have pops but you're best suited you're best off to be looking for pops to short right that you do not want to be trying to hold longs for very long even if you do a little long because the majority of stocks are getting pummeled when you see it like at this level it means is this institutional selling right so the big one is getting out of positions and this is one of the reasons why I had a feeling this was gonna happen why I was short overnight because that CPI number yesterday the volume relative line was off the charts so we you know the stage a little rally it didn't happen yesterday really strange trade quiet and then towards the end of the day started to sell off again and I just had a feeling once Europe got you know got their chance to short this it was you know absorb the information the European market open and one one name central then it got smushed again so this was this can see this was over 10 times normal volume on this on this down move we tried to recover we did recover more than usual usually a good place to be looking for shorts is the midpoint of the directional conviction solution we popped up here I guess it was when you consider this this was the initial part of the number and then we did that midpoint was probably right here so we got a little higher but you want to pay attention to when you see volume like this right this is big my huge money coming in selling this thing so imagine you are the resting orders in the order book that just get run over here right and then when it comes back what are you what are you saying yourself if you do hold it and don't puke them as it comes back you're like okay get me out of this position I'm that was wrong I'm out right and that's what leads to the next wave down and that's the same theory some of theory the same principles behind retest failure of the zone you know when you get a side indicator zone when it finally moves in a tear away while the traders that are loaded up long for instance in this case they're the ones that don't puke are praying that it comes back so they can scratch their trade either with you know responsive resting orders sellers and if those sellers don't get fit people get filled as it moves out of the zone they got to chase it and that causes the next wave down so that is the whole principle behind retest failure and it works with this as well this is mine this is very important mine so anyway we did this and screwed around all day did nothing just built balance and then did this and then obviously the overnight session started for the morning session starter for Euro and then they European markets and I killed it that's why I wanted to be sure yesterday mainly because I saw this stuff and I knew you know if it would have recovered all of this and I would that would have a different mindset right if we would have gotten back above this where this started then I would have said okay now I want to be long but it never did that and then we had we had signals there was a big double whammy and yes there was a big broken ice in the MQ and I got short ran it hurts me because it ruined my sleep but I don't do it very often but when I think that it's a prime opportunity I think yesterday we're risking like 80 ticks and I said this could be risking 80 ticks to make 400 and exactly what's happening as you can see so now for some in a position I have to get tortured for an hour and half that run here nothing happening any questions Bruce yeah no no no questions yet that's a fantastic overnight trade though Scott geez yeah I mean I only had two on so I'll take it and I had one ES on as well but I had more other counts on as well so I was like up all night like some of them I got out of couple is just you know most times it's not worth it for me to be up all night because then it really affects me during the day like I feel like death but I just thought that was a really good opportunity we talked about it in my trade room so hopefully a lot of those guys took and girls took that that's short all right so bigger picture stuff our natural gas just came out so this is another reason you know that CPI info was was key but I what I was talking about yesterday in the room was that is a l no that was the breakout of this bigger balance right this is a couple week balance or we can have balance we broke out obviously other stuff happened but this was the biggest one right as we come down the last stand is to try to hold this high volume note if it's gonna remain short-term bullish right it should have done that instead we ripped right down through that high volume note it did stage a little bit of a comeback but all it did is come back to the area where it gap down from right this song was drawn from other stuff already right we had directional conviction here but we came back we got a little bit above us so here was the gap it was right the bottom of the zone we gap down yesterday that was a CPI number right and it came back a little bother but it never got above the zone right and I knew you know if this can hold I was gonna have a nice trade especially because this was already violated right so that got violated here's your gap down so you can actually draw another zone based on this most recent gap because this is really important when you have you know 50-point gaps you want to be marking that because the first test back in that area is really really important so you see there was a buying tail here to that should have been bullish that failed so I'm gonna incorporate that it's a little bit of a directional conviction there this you know you just a single up bar is not directional conviction you know I'm talking about major down bars up bars that you want to be drawing but I won't incorporate this just because it was part of this little gap here so this zone here if we do recover is gonna be really important right around 3,800 and that's a you know big Scott Scott big spot gamma level I told you when I don't get a lot of sleep guys it's not pretty so watch that for a retest if it gets back up there I think so now this zone we're in right now really really really important you can see here directional conviction this was fed day where we put in that buying tail popped up here we actually had directional conviction down out of here out of here so then resistance was then support and then it held directional conviction directional conviction that actually never retested a letter this up big up eventually now we're back here so this is either gonna hold and try to hold and maybe build balance and make another attempt here but we get through this zone here by by coming down here we're coming down to this if I know you want to watch probably around 3675 ish once we get through there then straight down zero just kidding with that but it's gonna get ugly I think so we'll see so this is an important zone so it's do or die here if we get below this 3700 it's it's not gonna be pretty and that happened today but nothing happened in here some stuff in corn we've been watching corn lately there's been some stuff here comes here comes the waterboarding by the way this is the usual and he was taught to stop by and huge 164 Tom Brett so now I can travel my stop there's finally some of this is the first up in this market since the open you can see here this was 95 78 you gotta be careful piecing together I mean I have this on reset mode for a reason but if you're piecing together just to barely get the threshold be careful especially in Aztec but this is you know this is pretty much 80 and 90 it's 170 so I'll draw this out I want to draw it I want something anyway so I can trail this stop so I'm not risking back you know 300 points whatever this was 200 points so let's draw this zone remember to draw the zones get your little crosshair guy up here so you can see where this stopped and you want to see incorporate all the bubbles from where it stopped to where it started so now with this again this isn't a huge stop run but it's the biggest of the day so now I control my stop and or add to this trade if this fails so that's first step second step is ATR ATR right now is 34.98 so 35 points I'll go a little bit outside there I'll go like five points outside to stop this out so the top of this zone is 1596 quarter so 40 points is 36 quarter that's where I'll step out to add to this trade I'll just do the same thing below the zone I might stop a little in the same spot so this is a 40 point zone but you know it is what it is this is the volatility guys like you know I don't like risking or waiting for this kind of move out of the zone but this is what you have to demand from your trade so you don't get elbowed otherwise you're going to get elbowed you might get lucky a couple times but you know placing your stop you know we talked about this every webinar so if I end up getting short here you may get short and say I like that short but I'm only gonna risk 20 points I'm not gonna risk all the way back up here that's silly that's that there's a hundred points well guess what this is what this volatility demands if you want to put your stop right you get short right here and you want to put your stop 20 points above here good luck you might get lucky but the majority of the time you're gonna get this type of trade and then it's gonna go and then you're gonna have nothing on we had that yesterday in the room there's a new guy in there that refuses to get book map and he wants to learn or he's just watching and marrying my trades anyway I got short and he got short and asked this is when I got short for this overnight trade and he got short and then the market like he was right here and I had there's just like this type of setup and I pull my stop up here well it did one of these like it always does and he put a stop like 20 points away because he only wanted to risk 20 points again the market doesn't care what you want to risk he got stopped out and then the market dropped 300 points I'm sure this morning he wasn't real happy that he got algoed right that's why I put my stops where I put them I forced the market to get back to the volume event and an ATR outside here because you have algos that especially these algos pick up these volume events as well right so and they always not always but many many times as you guys have seen when he gets an ATR away they'll snap it back to the volume so that's why I try to put it outside you remember this has been more experimentation over the last couple years where I was trying to save some points so if I would see a setup I was you know in my first course I would be just getting in right when it broke out of the zone it's been an evolution right and I got this new course I'm hopefully gonna be done but with it by Sunday because I'm going on vacation for a week by the way Bruce I'm not gonna be here next Thursday I'm going on vacation but hopefully I'm gonna have it done by Sunday and you know it's been an evolution where I used to get in right in the zone and then after getting beat down enough where they wouldn't work and I finally figured out okay ATR is the best way to do this but then I was even trying to cut corners where I wasn't it was like 70% of an ATR I would get in and then I would get ticked to the you guys have seen this in all these webinars I've done right then I would I would get filled to the exact tick and then it would come the other way that I was 80% the 90% then hotter than I'm like okay I'm going just outside of an ATR and that has been like a night and day difference as far as me not getting filled you guys have seen it over the last few webinars so anyway I forced the market you know if I am gonna short this on a break of this zone I'm forcing the market to get back to the volume event and an ATR and I know if I'm right I am looking at multiples so you know I'm risking I'll be risking 100 points on this trade probably a little more I think this market can move two three 200 points the other way and that's how I trade right if you want to try scalping good luck you know again that's what that was my bread and butter that's how I made millions of dollars was clicking in and out clicking in and out if I'm not doing it that may want to tell you something right like because it's not possible it's not possible to do it consistently and all you're going to do is turn your account paying four dollars around turn it's not going to happen you know you can maybe make a program that's in and out but I'm telling you you're competing against computers right I was once again I was one of the best in the world at clicking a mouse in and out flipping my orders back and forth I obviously enjoyed that type of trading versus holding on to stuff for a hundred points right but I've conditioned myself to I've adapted and that was the only reason I got back you know was able to get back into the business that I got knocked out of because of book map and seeing this information and adapting and trading a different way because scalping does not work you again you may get lucky a few times but overall you're just going to get these algos are going to run you run your wagon and they're going to turn your account you know I got guys coming in my room I did a mentoring session it was a while ago maybe three four months ago and a guy comes to me and he's like yeah my system's 85% but I'm like okay well if you're 85% why the hell are you contacting me right so that right there was an outright lie and guys anybody that tells you that their system is 85 90 even 70 70 I can see possibly but you got you got guys saying I'm 80% you approve it okay maybe for a day maybe for a week over a month six months year zero chance I will put any amount of money on that I mean maybe again if you can come up with an algo for a for a fund or something maybe but I'm talking retail trader click traders they're they're not you're not going to be 80% so I show this all the time too and as we go on a rant since absolutely nothing's happening here so this is my P&L we show this every week right this is what a positive expectancy P&L looks like when you have an edge right you have the drawdowns and drawdown there's drawdowns here beginning of year right drawdown recovery drawdown recover recover recover right so this is great my mind you guys and this is trading ones and twos basically threes and fours as my count grows I'm trading bigger and that's how you should do it we'll go over that maybe a little bit later but the key point here is look at this look at my win percentage see that 46% and I'm able to generate so this is after commission right I'm able to generate that trading ones and twos I'd say on average since since this is in keeping track it I would say it's an average of a two lot right so I you can be less than a 50% trader and make that if that doesn't open your eyes you know granted I know I can I'm better at this like we talked about this all the time not trading at the 10 o'clock hour you know we talked about this all the 10 o'clock central time to 12 I look at look at this we've gone over this every time and just it just kills me because I've known this since I started trading and I've lost millions of dollars at this time of day so there's ways I can help this you know get this winning percentage up but my point is you can be less than 50% correct in your trades and still make a living trading right and again this is tiny if I'm trading 20 lots this is $800,000 right if I'm trading 200s which was my bare minimum in the past that's $8 million right so you can see how once you grow start growing your account we talk about the risk calculator right as you grow it every you can do it every day but you know every week you want to increase this I just put this in today I was like a 156 I didn't increase it for about a week now it's 180 so now you know if I'm risking 20 points you can see so I was at 150 before so it's just a bit of difference here all right so on a CS trader then I'm risking like 21 points I can put on I can put on a three lot right so let's see if it changes on 180 that's still three lot but it's almost a four lot right so as your account grows this is how you add size you don't just one day wake up and say you know I got a $10,000 account I'm gonna trade five loss today you may get lucky but you do you play that game and you get that negative reinforcement they call it when you get away with it and then you keep doing it you're gonna you'll blow out your account 100% so that's why we use that risk calculator please don't email me asking for the risk calculator it's a perk of my room if you want the risk calculator come in my room you'll get a lot more than that risk calculator so all right so speaking of torture actually this was over 20 minutes I had the three lot on yeah so I'm you know I'm forcing this market for me to be wrong on this trade I'm forcing it to get through this volume event and then it fully tier above there you know until then I'm gonna hold it unless I see something new then I'll then I control my stop based on the new setup but there's just absolutely nothing happening right now which is pretty surprising for how much we're down really anything even a natural gas usually you get something right up to the number this is just you could piece these two together but I like to see over 200 in natural gas you can see it's the one of the best markets I always get emails like what market should I be looking at well you need to be watching natural gas because you can see this Christmas tree that's just algos going algos gone wild right the biggest algos biggest disruptor is the big money right so when you get your setups they work like golden here because the algos don't they shut them off or puke or whatever happens that just they run away from these and buying events like there's no tomorrow and you can get three four hundred tick moves in a year in our beat so this is one of markets you need to be watching so I'm watching closely I was hoping there'd be something after the number but I'm not gonna draw that one I'm gonna wait for something bigger to come in right torture continues there was some stuff down here see there is 363 by ice 252 actually I could be joining this so this is almost a thousand bias in here it was so funny the other day I think it was 12th was that Monday the Grand Report came out and you know that came out at 11 o'clock central and right at the open there is like 3000 sell ice and then we were just I was laughing entire time I'm like I boy I wonder I wonder if these guys know something I wonder if they have the number and lo and behold the number comes out and the market drops 40 cents so once again guys the market these markets are 100% manipulated because they can't be right if you have big enough money you can manipulate the market the point is do you want to complain about it and you know get rattled by it or know what they're doing and join right so that's the whole idea that's the whole idea behind this you guys have a level of transparency 95% of traders don't have you know I say it helps keep saying it till the day I die it's the strongest edge you can possibly have interest rate because you get to see what the big money is doing there's a reason they're hiding these orders they don't want to put them in the order book because it'll scare the Algos or the Algos will run the market away from so they have to hide the rotors well there's no hiding when you get this information you get to see what they're doing right once it trades that is really important information to know speaking of which to be an ATR out of this zone there is 2.82 so I absolutely didn't this all this is ATR retest now that got over 2 cent to almost 3 cents out of year or to dig over 3 cents 2.82 was our ATR here's your retest I actually should have been long this so I didn't miss this trade but it would be my face right now so but if this comes back again I will go long this should already be long but kind of got lucky there especially this turns into a loser we'll put this in right now top of this zone was 0.3 so I will get in at 0.6 or again I should already been in this trade that's fine this comes back I'm filled and then my stop's gonna go 5 cents below the zone now we're waiting for wheat and corn this may be disqualified did we get an ATR this was 9.25 9.55 and I have cents below there ATR right now is 4.25 you can see it there in the middle of my screen so that is now disqualified as a long setup right we did get an ATR above here that's why I was looking to go long on the retest failure it retested but it didn't fail so obviously I'm not going long now we got an ATR below this volume event this is disqualified as both a long and short setup because we got an ATR above ATR below so now I have to wait for something new to trade in here corn is still alive we'll see if that breaks right through that zone as well then I won't take that trade either we already talked about this wheat right this is no surprise look we're ready surprise surprise hey the big money's gonna get their fill is not surprising not there's no questions during this incredible trade incredible action yeah let's see here yes I would utilize this time you doesn't have to be exactly you know can ask me anything right now nothing happening yeah a Sante Scott's using a trader's sink for that for that data and then one again go to my website I think we need to shift it on the ditch open my website go right here these are discounts to everything you see here book map this is the apex funding that I'm using for different strategies as well I've qualified on a couple different accounts there this is a great way to practice I'm not going to get into that right now but use that code it's Palsini 50 for the discount for that trader's sink just click on this you get discounts ticks tight tick strike that's the waterboarding I make fun of it but it's very key right it's me just drives you crazy when it's you're listening to it watching it when the position is going against you but that's discounts to tick strike there's no discounts to spot gamma arithmetic but click on those as well so that's that and then again Ludwig levels I don't have a banner for that yet I'm gonna get one on there and just go to our site to the three-day she had a three-day trial to hop in there this is interesting by the way this came with a volume right now we'll talk about that in a second but just do the three-day trial and say you saw in the book map webinar and you get next question Bruce yeah then let's see another question was redacted let's see in discord yeah a few questions in here this is the retest of that zone here I may short this depending you can see this ticks strikes going off you can see the buying that's just showing you these buying bubbles there's something this is just an algo that shows you the speed of the orders and the size and it goes from level one to 15 one being the most sensitive meaning any kind of buying I have mindset 11 where I want to see just very strong buying or selling so this is telling you that this move in you can also see in the bubbles obviously but it just helps you if you're not staring at the chart to let you know something's going on in the market you know you also get those kind of alerts with the SI indicator but if there's nothing with the SME care I still want to know hey they're buying the crap out of crew so on and so forth so let's see this retest here quickly the TR is 61 that's kind of rough the torture so I'm talking about what was that Bruce sorry well that Bert was asking about where you put placing your target for the overnight trade so overnight trade my target was the blue love right got you did I try did I trail that stop yeah okay I did that lacking sleep yeah so when I put this on I knew there was enough going for this trade I mean obviously the volume event this is this is normal trading hours and I'm watching you know that's one of the that's one of the faults I can't think of the word negative factor I can't think of a word but trading overnight right you can't see if something new comes in and so when I'm trading during the day if I'm short this market and I get a new setup well then I trail my stop based on the new setup right well you're sleeping you're not seeing any new setups just got a hope that you know I can't tell you how many times I've woken up and I see like it almost got to my target and then it's like up here and I'll bring up you know all the book map running I'll look at the one overnight action I'm like oh there was this huge stopper right here that I would have been out right here instead now that's one of the problems with trading overnight right but I didn't have going for this so my my ultimate target was the blue love right so you can also use things you know your market profiles this could I actually had this on in my art I put this straight out of my auto trader account that I do for other trader or other people I did get out of one at the top of this market profile composite I didn't I didn't hold that one to the blue love so you could you know set especially at multiple positions on it doesn't have to be all or nothing you can say I'm gonna get out of one at the prior market profile composite and it did bounce or overnight about stepping like 70 points points of controls of market profile composites or bottoms those are other target areas that you can use obviously you want to be able to learn how to draw these zones proficiently you can use those as targets as well right these are really if I draw these zones they're important areas and you can see the market respects them all the time on you know multiple times right so this was this was an area here this was a direction of conviction directional conviction came down spike below a little bit buying tail held held held held right very important zone so guess what when we come down here again you want to watch this zone if it very likely could do that and if it doesn't that gives you even more information that things gonna get killed right because it held held held held held held held if this doesn't hold you are looking at a huge move the other way right that's why you want to know these areas so this looks like it's probably gonna pop back up to where we opened up from more of the gap we open up their directional conviction so this looks now like it's just gonna maybe start to build balance and you can see where is this bill where does this keep stopping this one looks a little different than the yes right we talked about he is violating the high buy a note well this one has held it now twice held it yesterday got the up move held it again so you could I should have actually drawn this zone like this I don't like drawing zones on high volume nodes by themselves just because I just don't want 48 zones on my chart but this was important this was directional conviction at that area so the way you would do this again this is an area it's not an exact price and market profiles call point of control but in balance areas you know the high volume node is just basically in the middle of it so I'm gonna incorporate that let's change colors so don't confuse myself so this is on its own right now a very important zone it keeps holding when it breaks that's when it's gonna get interesting if it breaks but right now this is still this this particular market is still in an intermediate bullish phase right because intermediate term that not really longer term an intermediate term that was a breakout here's your retest held well could be happening now here too and we could just be building more balance this could come all the way back up to here and we build balance and then whatever way that way that one breaks is gonna give you a clue to that saying that's gonna happen but it sure looks like it's gonna try right but then what happened over here is we broke down for balance we retest the bottom the more balance yesterday broke down this one helped what I want to see happen is if we break this then it's gonna get really ugly but this may just screw around here now there's no volume coming through relative volume starting to dissipate now this looks like Algo City that's why you want to really keep an eye if you're looking for bigger moves you have to be keeping an eye on this relative volume but this relative volume starts to dissipate you are going you're gonna see nothing but whipsauce this is this is the bread and butter of the Algo right you don't think the Algos know if there's big money in here playing or not right they see all this and it's all built into their programs right so when this when this starts to dissipate less than 100% again this is a relative volume chart for this exact five-minute period for the last 30 days this is on Sierra chart when you start seeing this you're gonna start seeing that right this is this is how Algos take your money as it's very very simple of what's what happens in these markets these Algos are here to take your money right there that's what this is so you better know hey this is a time where I think this market can really trend with the volume starts to really pick up or I'm not going to participate in this trade and this is what it usually looks like you know at 10 and 10 to 12 central and that's why I usually get crushed then because you get this just whipsaw action kind of like it's to it now right even though so say the 10 o'clock hour comes up which is coming up right now well this still should be getting to normal right because it's showing you this exact five-minute period where you really want to be careful is if you get to the 10 o'clock central again I'm on Pacific but 10 o'clock central and then you see less than normal volume for the 10 o'clock period then you really know it's gonna be Algo Fest that's when you leave go work out go meditate get the hell away from your computer I don't know how many times I have to show this to you guys and myself don't trade and I saw what there was a there's a prominent guy the other day they said because someone was complaining about this time of day you know he's like well different people have different strategies and but okay yeah but I'm overall unless you want to get Algo to death you probably don't want to be training on this you can't you can have exceptions there the day that I implemented this like you guys remember it was a couple weeks ago my trade remembers I'm sure I'm like okay I'm done I'm not gonna be the monkey sticking his finger there's electrical socket thinking this time it's not gonna hurt 10 o'clock central I'm out the door I walk out the door and the relative volume like spiked up to like three times in the market drop like 50 points so there are exemptions where you could stick around but overall overall you want to be you don't want to be messing around this time of day especially if you see this by if you start to see a spike up two three times yeah stick around other than that leave come back at noon I used to literally some days I would just walk home from my you know it's downtown Chicago I'd walk to my condo and just go take a nap for two hours do you I would have to physically remove myself from my office so I wouldn't throw away millions of dollars and that's why it's so frustrating to me because I already know all of this and I still you just saw that P&L that's current stuff and I still do it right so it's hard to it's harder when you have the trade room when I have the trade room stuff and I'm trying to show guys setups and stuff I don't want to like disconnect from that from this stuff but you know P&L wise you got to do it especially if you start to see this stuff dissipates just not worth it you're just hoping the Algos don't website you in a certain way if you like to play range trades well that's fine I personally don't because it's like the time I try to play a top or bottom of a range that's the time that the thing rips out of it so I prefer just to not mess around when this volume starts to suck I just have never ever I say it every time now I've never seen trading 24 years or whatever a fake I talks three times a day see this is what this is and guys when the Fed would guys start talking whether it's you know this intermittent talking or a Fed number all bets are off the table right like it's just like when a number comes out you can have your perfect volume setup well something changes and there's new participants entering the market with this guy chirping right now right so this stuff's off the table it doesn't mean I'm gonna get I'll just let it stop me out but things are changing now because someone's talking right it gets really annoying I tell you that especially because I don't know if you guys know that the Fed guys can trade to yeah that you know it's just like the politicians that can make policy for these companies and then then trade the stocks and make millions of dollars the Fed can actually trade which is absolutely mind-boggling to me so let's see oh we're gonna we're gonna raise rates let's go ahead and sell some before we do say it's ridiculous don't even get me down that rabbit hole any questions Bruce let's see Bruce always always that come I can't think right now I can't talk controversial I always always kind of fan the flames a little bit it's good fun but so yeah just the spot gamma levels how much do you use that worth do you find from that spot gamma levels are very very very very very important not only that so you guys got to remember right these levels are basically where the dealers you know options dealers are hedging their positions so they are a big factor in this market they're probably some days of the biggest factor right so when they get loaded up with options they have to hedge with futures so what spot gamma tells you again you can get where you go down that rabbit hole like extensively the stuff is very interesting I don't want to know as much as he's he's telling people are talking about because I don't want to be confused when I trade I want to keep it simple and stupid right but I still treat the I mean you can get go as in depth that you want as far as like the inner workings of all this but all you really need to know is these are sport and resistance levels because when the market comes to here dealers are hedging these positions positions and it's showing you the most concentrated areas where dealers have options where they have to hedge right so I use those levels of support resistance very very important you can see we're just dancing around this one right now and then the other thing I use it for his commentary every day is very very important so you just go in here actually this they're going to carry let's take a look this is the real-time options info you got to be very careful using this it's not red light green light book map actually has this where you can get it on the book map or you can get a standalone this is not red light green light right doesn't just turn around the minute this thing spikes take a look here and see what the look at his commentary and when you really want to pay attention he makes certain calls sometimes and when he says certain things kind of like when Bruce says this new indicator is incredible you really want to listen right same with this guy when he starts talking about so this is nothing now I mean you do have a little bit of divergence you can see so the black is the market the options starting to go the other way the options hedging this is totally you can split it out to put in call I just you know again I don't want to get too in-depth I want to see when for instance like as he talks we'll look at this here in a second like if the market gets up here and the options are going the other way the market is going to eventually turn around it's not right that second but eventually you can expect to move the other way so that's SPX spy this looks obviously different so this just looks like cross current choppy trade right now it's like a QQQ you can do my alphabet right now because I'm so tired QQQ looks that looks bullish as well so you have no cross currents there but while I really use this is when you come in here he has a daily note every day he gives you the levels and that's the same thing that's on the book map you can bring those in on the cloud notes supported 3750 and 3700 he even gives you this the spy and remember this is the cash so it's a little different I think it's about six points off in futures right so when he says thirty says so right at 3750 well 3750 is 3743 is it seven points no yeah thanks so it's not 37 so it's six points up so 3749 in the cash is equivalent to 3743 in the futures right if you come up here this 3800 I'm sure 3794 right there you go right so it's the cash for the futures equivalent to the futures so that's the one thing he talks about that but then he also talks about what he's saying as far as this is one of the things where he said about the hero in the care yesterday we know hero captured strong positive deltas off yesterday's morning low right when that was this it's this right here so we were down here main lows look at the hero right caught up came up to the highs look at the hero turn around sold out and then it really sold off overnight so again this isn't the minute I mean you could have been saying this this whole time like right here was a divergence that means you just jump in and buy right there with jumping right there you get your head knocked off you jump in and buy right here because there's divergence still went down another probably 20 30 points right so it's not red light green light but you want to pay attention especially when you get to import levels and then what he says is when you get to spot gamma levels and then you see that those are good areas by and then one is the best year in time to buy when you get to spot gamma levels when you get this divergence and you get your volume set up that's the best time that's the ultimate edge right so market revisited blah blah blah this real-time flow put us on the general dealer positioning negative gamut to put a hole in this to just short covering was a prime deliver of that rally this is all really really important information right you know short covering it's basically the same as stop runs like we talked about in the beginning webinar stop runs is they're not that's not real buying right doesn't mean the market can't move doesn't mean you can't get your head ripped off on short covering but you got to know when it gets to a certain important level it's probably not going to continue because it's not real buying it's just guys puking yes or his train was also seen to have built so this is what his levels are right when you look at this that this is just him putting these levels so the most important strike with the most important options info or activity where guys are loaded up these options dealers where they have to edge is at this strike which is what can't see it 3800 right so that's the most important area so if we are to rally if we do rally here I'm sure these fed clowns will say something to push this market up here this is where the most options activity on that entire board is so you can bet this is going to be strong resistance when we get up here and again it's not the exact tick sometimes it'll go four or five points above here and below whatever but these are just just using the sport this is how I use them right that's resistance if we get above there use them as support right so yes I use spot gamma extensively we talk about it every day you can go down this rabbit hole you can get really in depth I just for me I just don't the simpler you can make your trading the better you're going to do and that's why I've always gravitated towards the just simple stupid again I used to trade directly off the off of the dome the depth of market that's all I did I didn't have charts up at the time when I was making millions just flipping this order book it doesn't get much simpler or stupid than that right so I try to keep it simple stupid but the stuff's very interesting I'm sure you can come up with longer term edges with what he's talking about as well right just get this over with stop me out and let's get something going in here it's like a torture treatment question on trailing your stop do you use the the five minute ATR to do that I personally do not and you could I wait for opposing setups right so you know this is the one of the biggest weaknesses problems and I'm struggling but mistakes trader traders make right so this isn't a good example because of things in my face but you know if this seems moving in my direction you know for this this for instance right this is a huge trade it's coming back now but this is the way I trade most of the times I should say most of time but this you know I'm holding this trade I got out of one because that edge was oversold at the important at that point of control but mostly the only time I'm trailing my stop is when I get the new setup right then I'll trail it based on the new setup that is gonna help you catch capture monster runs right traders can't they you know that starts to go in their favor they have this up they're watching like oh that's my rent for two months man I'm this pops up I'm out of this thing again they're just getting a getting out at random spots just because they're P&L the market doesn't care about your P&L the market cares about the volume areas right let's make sure this stop is in the right this ATR may have increased 33.61 this was 40 was 36 it doesn't matter now that was 40 points so stopped out but yeah I trail my stops based on you could you better do some research on it I mean I don't think that's the best idea just the 5 minute ATR maybe an hourly ATR to trailer stop would probably be better or a percentage of that right maybe if you say if the market moves a half ATR back the other way I'm out again I don't trade like that but I'm sure you can come up with some strategies but at least look having any kind of reasoning besides I don't want to lose my rent is a good is a good reason to trail your stop you know trailing stops because you don't want to give back money just in random areas it's not a good idea if you want to start using ATR stuff like that yeah do some research I'm for that at least there's a reason behind it it's not just because you don't want to lose your car payment right that's why traders fail because they get out and stopped out of this little piglet yet but it's coming make sure this ATR that's at 8 this is 43 21 51 25 she could have gone yeah that's about that's 8 3 quarter points but you can see like if I I mean it's not that I won't get stopped out of this but if I had that inside of an ATR even had an ATR I would have been stopped out to the exact tick do you see all these algos that's basically an exact ATR right now ATR is 7.99 or what now it's 8.01 by the time it was that's an exact ATR it's not a shock that these algos just turn around and rip it the other way that's why I go outside of an ATR for my entries and my stops now I used to play games trying to save a couple points and it probably cost me I don't even want it I don't even want to guess how much that cost me I don't feel like getting more in southern area next question there's questions I think we're pretty caught up this is some terrible trade man can't believe I have not gone on more rants I mean the ATR ATR is off the five-minute chart but what's the period that you use so this is by the way this is all stuff that's gonna be in my new course right this new course is gonna be like my first course on drugs and steroids I'm gonna have all this stuff ATR I'm gonna have all these other indicators sweeps and the synthetic icebergs and everything else but this is just think or swim 14 minute Wilders ATR all you got to do is Google Wilders ATR tell y'all about it I don't change any this is perfect this goes off this is a 14 14 period so when the original Wilders ATR came out it was 14 day so this they kept it the same and this is just a 14 period so it's looking back 14 five-minute bars for the ATR this is the best way that I've determined to trade you know as a day trader to figure out the volatility there are exceptions where you can use 20% of an ATR if it's a one-time event right so say like you know yesterday CPI CPI came out you can't see it on here you can see it on here let's just look at giving example right now do you think this volatility is indicative of the real volatility absolutely not right so ATR popped up here it's a I mean it did continue after that into the session but most of the time you're gonna get this spike it's gonna be like just like the natural gas number actually that'll be a better example or but guarantee you dissipated right so this net even though I don't think it got too crazy on this number let's look so you can see the ATR spike to 60 something right so a lot of times if it's a one-time event if you don't want to be playing the five-minute ATR because you know that's not the real ATR I mean as far as normal then you can go 20% of an ATR so say right now you just use so this is 200 ticks remember just it's just showing the decimal point that's the decimal point right so move the decimal point over 195 ticks so what's 20% of 240 so you can use 40 right now or just a little less than 40 as your ATR if it was a one-time event versus using 62 right that's the only time I change it and it's not very often so again if the Fed number comes out crude number somebody says something in the market spike something like that then you can use 20% of an hourly other than that I would always use five-minute ATR okay survive that move was there something you were gonna mention about CVD someone's asking I was just looking at the cumulative volume there you know I watch it it's not you got to be very very very careful using that we've talked about this many times right so for those of you that don't know what this is this is just showing you the a lot of people say this is showing you there's more buyers and sellers well that can't that's not true there's always an equal amount of buyers and sellers or the transaction can't take place so that is just erroneous in its nature right there are no no it's I mean it's just the aggressor though no no I know but what I'm saying is this what people say there's no more buyers and sellers it's not more buyers and sellers there's always a seller for a buyer yes of different prices right but there's always a buyer there's always a seller for buyers always a buyer for a seller just at different prices this is not showing you that this is showing you who like Bruce said who the aggressor is right so who's hitting who's taking offers who's hitting bits obviously this whole way up even when it was in here in this range somebody kept taking offers taking offers taking offers probably probably some Fed members that knew the area come on say something bullish just kidding but not really the point is somebody somebody when this was Mark was basically doing nothing they were buying a ton this went from a zero to almost 20,000 meaning somebody was buying bought 20,000 contracts aggressively yes that's good information and now at certain times but when could this when could this hurt you right yeah it's great to see that someone's buying aggressively but what if this was some huge sell ice order in here that yeah okay the but the buyers are really aggressive big deal they're running into you know 10,000 this is just an example 10,000 sell ice right okay yeah it's good to know they're aggressive does that mean that they're right no that's why you got to be very careful about this where you want to what of using this right trust me I I've been I've learned the hard way when I first learned about this it looked like magic I'm like well this is awesome man we're you know we're in a range and I see they keep buying I'm just gonna go long you know when it work would work and work I'm like this is great and then there'd be points I mean I can find hundreds of examples where this thing would go up and the market just kept going down down down down right so the best place to use this would be safe for instance say we did something like this say we came down to this low and say that the CBD cumulative the volume Delta is what CBD stands for we're here we do this we come down we make a lower low and then you have this you can see the buying you can see the buying continued right so you get a divergence in the buying versus the lower low those are good areas but you can use in that logs on and so for us I got stopped out but now we're getting finally getting a setup so maybe maybe we could put on a trade that'd be cool but you got to be careful because like right now they're buying it like crazy what's coming in sell ice right so it's not that it's not the full picture is what I'm saying guys that are using that they're not getting all the information yeah the buyers are being aggressive that's good to know but it's also really good to know hey is there a bunch of sell ice company here stopping those buyers right that's then these guys were on the show right it doesn't mean they're always right but it's just it's just not all the information that what I'm trying to say so you can pull this up on this on here too that's why I just don't have it up because it's just it throws me off and I don't think it's all the information needed I mean you have it with this stuff I'm sure you can come up with strategies with CBD here's a cell CBD by CBD and then with your setups but I just got to look at my Sierra I don't have it up here I'm trying to eliminate as much as I can off of these charts all right so now let's actually maybe put on a trade for the first time on this webinar again I put on that short pre pre mark pre webinar so this is 700 ice 800 ice sell ice for this is almost a double whammy what's a double whammy say buy stop puke into the waiting hands of sell ice right so now we're going to trade off in this zone hopefully so I want to incorporate all remember go to your little cross here incorporate all the prices that fell in the spike right that was the high of course high tick stop out by the way I don't know if you guys have ever seen that from my trades so you would normally look it would look like you'd want to just draw right here right you can see these these sweet bubbles you're like yeah I'm gonna draw my bottom right there well no this stop run or this the sell ice incorporated all these prices all the way down to here it may even be lower we'll draw it here for now this is the Fed guy talking Waller guy or girl I don't know what it is but this is why this is that you know again all bets are off for prior stuff now new stuff's coming in now you can trade off this the guy's still talking but did I get this correct no so you see here I still didn't draw this correct you got to shrink your chart to see okay wait so this bubble is still within this spike right so now we got a running tools there you go so now we're in the zone that's step one we have the accurate zone right we got the high at least I get stopped off the exact text that's I got that going for me so we got the high and low so we know this is the zone it basically ranges from 49 3749 up to 5250 next we check our ATR ATR is 8.02 so for me to trade this zone first and foremost I need to see outside of an ATR to trade it that's how I determine what the zone is if you can get eight and a quarter by round up eight and a quarter points outside this way or this way determine is this I take Titanic setup Titanic setups when the market runs into the cell ice kind of like running you know an iceberg get it very technical and it fails or is this gonna be broken up this is what I'm talking about there I have a distinct setup for when paper is wrong it's called broken ice is this gonna turn into a broken ice setup if it's able to get an ATR above there then they're wrong from my studies and trading the thousands of these then I know how to trade it from that way so we know where ATR we want to take a look first and foremost this is an area where we could be I think this is more of a resistance level so I'm leaning again thesis wise I come up with ideas but I let the real-time volume tell me doesn't mean I'm just gonna short right here in the middle of this zone I'm in all of that cell ice zone I'm gonna let it prove it to me but I'm thinking this is going to be resistance why because this was such an important area and we basically ripped right through it now we're just returning to it I could see this holding and then doing one of these if it gets back through here well then that's information and we could probably recapture this entire gap more cell ice coming in right so the other thing I want to check do you think that's important to know so this is a thousand a thousand uh biceps just fired off and there's another 600 that's not quite threshold but I am going to draw this for the stopper so now we can trade this in a different way that I just want to see what this I don't think I'm going to be aggressive here lug-wise yeah we are above this newest setup is this first setup was right at the yellow log right so if we're right at the yellow log with the setup I wait for retest failure either way if we're if we're above the yellow log then I take as long as aggressively I take shorts I wait for retest failure if we're below the yellow log I take shorts aggressively for long as I wait for retest failure the other way so this first setup was right at the yellow log so I would be waiting for for retest failure anyway. And now we just got another set up right here. So I will take this aggressively to the long side. I know we're breaking through that zone, that's positive, right? We may fill this entire gap, I should say positive, bullish, right? It's trying to bust through the zone. If this can get through the zone, we could recapture this entire gap down from overnight. That's what this shows you. This is a regular trading hours chart. Remember, gaps are directional convictions. So if this can get a little higher, you see it's kind of struggling here because this is now what was support, support, support is now resistance. This can get through here, and then I have a different view on what's happening. But it still hasn't really gotten through here yet. So anyway, so let's draw our newest set up here. So you can see the sweeps. This is a great thing about the sweeps indicator. It shows you this, this was not threshold, but this was like a continuation. It was basically stop, stop. So this was almost, you heard him say it, it was like almost a thousand, right? I'm gonna draw this as a new zone. Remember, you wanna core, you look like you wanna go here, but make sure you get all the bubbles in the spike. That comes all the way up to here. Make this a different color so you can catch your zone. So now you could trade this one in two ways, right? If you really feel this is bullish, you could, I think this got an ATR above here. What do we get up to? Around that zone, about two, that's pretty close. You got up to basically 59, right? This first zone that we drew, the cell ice, top of 5250. So that actually did not get a full ATR, right? They only got six and a half points above there. ATR is 8.06, so that still has not proven an ATR out of that first zone. Then you have the second volume event that happened. So what I was saying is if this did get, this is a variation. I don't wanna confuse people that are just learning this stuff, but say you were really bullish, you could have said, okay, there's my ATR, even though it didn't say it did, right? Say it got like nine points out of here. It goes retest failure. Well, you could play it right when it gets back out of the second zone as the failure of your first, and then you can show your stop based on the second volume event. So you're not risking as much as trailing enough the first volume event. Again, that's a little more advanced. Enjoy my room. I talk about this stuff all the time. Right now, the way I'm gonna trade this is off of this newest volume setup. If this is able, I know we're above the yellow lug, so I will go aggressive. Meaning at ATR is 8.06, so I'll go a little up more than that. I'll go like eight, three quarter points out of here. I will take it long aggressively. That's the aggressive entry. Just getting in the minute it gets outside of an ATR. The conservative entry is when you get the full ATR, the retest, the failure, a little outside, then you go long, right? This particular instance, I would go long. One, we're above the yellow lug. Two, I know we're gonna be getting outside of that zone that I just was talking about, right? Let's take a quick peek at our market profile as well. This is today's trade. So this is a prior composite that we failed to get out of. That's, you know, you come up with stories with these composites, right? So what's the story here? Well, this is obviously an important area. That's why I kept it in, even though we did trade through this a few times. Obviously, this was still important for the low of this composite. And it was not the value area, just the actual low-low. But you can see, we tried to get out of here. Now we, it tried to get out of here and it failed. Now it looks like it's gonna accept. When market's accept back into market profile composites, the tendency is to get to the other side. That would be right there. And that'd be, it's not quite the point of control of this one, but it'd be well inside this as well. So the story I'm seeing is this market had a chance to die and now it's recapturing this market profile. That's bullish. We know if it gets through this zone, that's bullish, which is trying to very hard right now. I think if we get through here and then I didn't get along with that stop sign, I think we can retake this entire gap, right? And bring us right back up to 3,800. Because that's what this market does. Every time it looks like it's gonna die, it does this miraculous. Again, a lot of this is fed chirping, but it is what it is. The volume is telling you to do something. So what I'm gonna do here, again, let's look at our ATR. ATR is 8.18. So I'm just gonna put it at nine. I'm gonna go three ticks outside of an ATR. This is at 37.59. I will go along nine points above that, 37.68. So we need to figure out what I'm, I need to figure out what I'm risking here as far as how many contracts. Like this is the most important part. You don't wanna over-trade your account size-wise, contract size-wise, or you're gonna blow out eventually. If you're, you cannot trade bigger than your, you should not be risking more than 2% of your account size on any trade. Max, right? Most guys do like, you know, that they're good traders. They do one and a half percent. So what would I be risking here? So I get filled there at 68. Well, now I gotta go nine points below this zone for my stopout. So the zone is at 50, let's just say 51, make it easy for my math. It's 42, right? So I would stopout, basically right in the middle of the zone. I don't like doing that, but just to show you guys illustration. So I'm risking 42 to 69. That's 27 points of risk that I'm taking on this trade. Do I like risking? 20, so I can hear just people groaning. Well, I like risking five points when I put on my trades. Guys, I'm trading with the current volatility and the volume zone. This is what it demands to catch the big moves, right? Again, you could go say, yeah, I like your long, but we just talked about this, but I don't like risking five points. Well, good luck. You might get lucky and have it rip. 98% of the time you're gonna get this, you're gonna get stopped out, and then it'll go, right? I forced the market to do it. And I'm willing to put on a 27 point risk trade because like I just showed you guys, I think this market can rip and recover that whole gap, right? Of course, I lost my chart like I always do. Hold on, there it is. Well, it's risking 27, so if I'm getting at 67, you know, it's probably this one where I think it could pause is obviously where this gap started. I don't know why that color changed. So that's a 30 point win. This is a one-to-one trade. You wanna try to avoid one-to-one trades as much as possible, but you know, I'm willing to trade this because I think they can easily retake that gap if this gets wrong. So that's, you know, basically risking 27 to make 30. Most of my trades are like the one I put on Nasdaq last night. I was risking 80 points to make whatever was my first profit. It was like, I think it was 300 ticks away, 250 ticks away, right? And that's what this profit is. But this particular trade, if I go long, I'm willing to risk it. And the way I trade, you gotta remember, I've watched three years of these setups, thousands and thousands and thousands. And this is the way I've deemed the best way to trade these. I say it every webinar. You can come up with your own method if you think yours is better. This is the science. The way you trade the zones is the arc. So if you like to get in right when it breaks above, fine. Like I said, my first course I would talk about the minute it would break above. So say you're going into the lawn as soon as you see the blue bubbles, meaning the market buying above, you can get in and place your stuff just below. There is something to be said for that, but after doing that enough and losing enough, I'm like, wait a minute, that's not, there's a better way to trade these, right? So you can take bits and pieces of what I'm saying and build the whole idea. This is not for you guys to mirror my trading, even guys and girls in my room, trading room, traders, I tell them. This is not for you to mirror my trading, it's for you to learn to do this for yourself and then tweak it for areas that you think are important. And if you want to change, like how much you're risking, just make sure, I don't mean you get long here and you stop out right in the middle of the zone. That is incorrect. But if you say, hey, I don't need to go full ATR below that zone, I'm just going to put it just outside. You know, I'm okay with that. At least you're getting outside the zone. I've just determined you want to get outside the zone plus outside of an ATR to give yourself the best chance and not to get out good, right? That's a lot of talking, any questions on that Bruce? I'm going to cancel this by the way because I'm obviously not long. And I wouldn't go short there because we're above the yellow log right now, right? So for me to go short now, based on this setup, I need to see full ATR, which this is where this was, retest failure, then I'll go short. At this, I'm going aggressive long because we're above the yellow log, get it? You could go aggressively short here too because this is an important area. Again, I'm not trying to confuse you guys. I usually use the lugs, but this is an area where you say, guess what? This is really important resistance. If that fails that zone, I'm going to go short aggressively because I think we're going to do that. I'm okay with that too. The important part is the volume setups, right? That's what's most important. If you went short this zone in ATR, what you could do, just to give yourself a little more cushion, but just outside here, and then make this market proven, get back through this volume event, this volume event, and that volume event for you to stop up. And you can put your stop here if you wanted to. I personally would keep it in ATR above, but then you'd be making it to say you got short here, you know, that's aggressively, right? Then you make it get through all three of these vitamins and a full ATR. Well, if the market can pull that off, then you say congratulations, you win. You win on this one, guys, under the next one. That's what trading is. It's just taking your setups, playing the percentages, and treating it like a competition, right? It's you versus them, because it's you versus the big money is what it is. They're trying to take your cash. That's how these funds are, funds in these firms and, you know, big money, that's how they're in business by taking your money. What are we saying, Bruce? Oh, yeah, a question here about, when you say full ATR, is it, you mean like the ATR above the current price or your entry? Full ATR above the zone. Above the zone. So I went in ATR, top of the zone right here, you got 37.59. I went nine points above that zone, right? You could go back and do studies and say, I've determined, if I went in ATR from the bottom of the zone, that's where I like to get in. Fine, you can try that. I don't think that works, but you can do it again. This is the art. If you don't believe my system works, again, that's not, I'm just not making this stuff up. I've been doing it for three years. You can come up with your own variations, but my point is, when you answer your questions, I'm going in ATR if I'm going long from the top of the zone, not the bottom. If I'm going short, I'm going in ATR. So when I put my stop in, I'm going in ATR from the bottom of the zone. Does that make sense? Yep, got it. No, that's it. Scott, are you, so you're going to be away next week on the 21st, but will you be away the next week after that, the 28th, or will you will be back on the 28th? Okay. Just next Monday. Next Monday to Monday. Okay, got you. I need, definitely need a break. Yeah, I am going to be here in July. You know, usually most traders, big traders go on vacation in August. So I'm expecting some pretty slow trade in August as usual, but this is the best time for me because my daughters go back to school in Arizona, like to go back to school like August 1st. I mean, I can remember when I was in grade school and stuff. I won't go back to school until like September. So they got to go back so I can't go in August, so we're going in July. In case you're wondering about my kids' school schedule. All right. Yeah, no questions about that. That was a joke. Let's check out some of these other... All right, so first of all, this crude, I was potentially going to short it on a retest failure while we got, obviously got an ATR above the zone. So that's disqualified. I'm actually just going to get rid of this and I'm just waiting for something new in here to trade. There's been nothing today, nothing threshold that I can see. So this thing is just chopping around again. This is overall very, very bearish. Doesn't mean we can't do a screw you move, you know, back to the bottom of this large monster. One of these, it could even actually come back to the IVI and know what we're talking about. But overall, this thing is in trouble, which is probably good for our guest participants, I would think. This got disqualified. I was going to trade off this zone, I'm waiting for something new in wheat. Corn almost got filled there, did not. That's why I go outside the ATR and then filled it and have it snap back. But I'll still go along off this set up in corn. 6.06 is my stop, stop in, I should say. Other than that, there's been really nothing today. Natural gas is whipping around, I don't know if I'll go fast as usual, but nothing in here either. I guess I could have drawn this, let's just see what this looks like. Whenever I was saying this was barely threshold, I'd like to see over 200, but let's see if we want to trade at this zone and how I want to trade at this before I opt off. So there's been very little, there's been actually any trades on this webinar, which is kind of strange. So this was 114, this was another, you can see that I'm fine, I didn't draw this. I just don't like piecing together, especially when they come. Oh, this was, I was thinking this was minutes, it was just like 20 seconds. So that would have been the zone. No, it wasn't enough. This is where you gotta be careful, right? Make sure you're incorporating all the prices in the spike. So that's the zone. What do we say, ATR was 60 something, but it was right after the number, so we couldn't use 40. This actually would have been, let's take it in ATR below there. But this is why I do, depending on where we were, we'll take a quick look at the lugs. Yeah, what do you know, right off the blue lug. That's why these, that's why I use them guys. They're ridiculously powerful. And anyway, I would not have shorted this, even if we were below the yellow lug, but like we talk about, we talk about this every webinar. If the blue lug's right there, I'm not shorting into the blue lug, right? So I wouldn't have taken this short, but aggressively. But if you were waiting for retest failure, say the blue lug wasn't there and you weren't ready to use lugs, you wait for retest failure. Well, guess what? This didn't fail. It just went right through here. That's done. Now I'm waiting for a new setup. I can even delete this thing. I'm waiting for something new. That's about it. Very boring trading today, obviously. So far. So you just sponsor on, but you can see like how relevant these areas are. Look where this came back and stop. We're right at the bottom of this first zone. So like I said, you can come up with your own. You can say, hey, when I see another setup, I wait for a pullback to the bottom of the first one, I'm gonna get in on the rest in each area below there. Trade them however you want. I'm just, you know, use my experience in your favor, right? That's why people are members of my room because they're learning good and bad instead of having to go in through 20 years of getting your head ripped off, right? You can learn mistakes from me, from my experience and you don't have to go through them and lose multiple accounts, right? And obviously the good, the positives of my trading obviously, but even the bad, it's good and bad. And there's nothing sugar coated in there. I'm trading just like this every day, twice a day, right? So everybody sees the good and the bad and they see me on tilt sometimes and they see me planning all the time and making bad decisions sometimes, right? But that's all to help you guys not have to go through the same stuff. That's the whole point of the room and these webinars. All right Bruce, there's nothing where your guy goes on right now, right? The other guy, Tom. Yeah, yeah, yeah. So this will segue, it'll redirect you right into Tom's webinar that starts right away. So everybody, if you're interested in that, volume profile with Tom and bookmap. Yeah. So quickly, I will, so this is a variation again, I don't wanna confuse people that are just learning this. This is a new setup, right? 800 stops. I will let this fill me I remember I was trading off this first stop. I'll let this fill me, but then I can trail my stop and someone was asking about trailing stops based on this new volume event, right? So this is exactly what I'm gonna do. This is looking bullish now guys, obviously we just talked about if I got filled on this. So this is your new zone, right? Because the thing is, if you wanna go long and you keep getting new setups, you don't wanna keep trailing your stop up to get in the trade, right? Cause then you missed the move. So this is a variation where I will stop into this trade off the original zone but now once I get filled, which I think I'm going to, I'm going to trail my stop. So I get filled on this, now my stop is gonna be an ATR outside of this zone. So now I just, so say it's nine points, could be a little more, I'm gonna check it. So now my stop would be at 50, right? So I put my stop here on this fill, which is what's about to happen, versus what I say was down here. I was going, it was somewhere down here. My point is, I can't remember now, what was that? I was gonna keep up the stop by the end, by the end of each of the contracts. Now I'll fill that, and there's a new stop. I'm sorry, I forgot to buy this. By the end of each of the contracts. This thing's gonna rip, obviously. But I just saved myself 10 points in stop, right? Cause remember originally, I was gonna trail my stop, nine points below. I know there's a lot of zones here, this yellow zone here, right? But now because this new, this white setup, now there's something new I can even trail it now again. So let's just quickly do this. Hopefully that's not confusing. If you've been in here, you've seen these. Yeah, this is not threshold, so I'm not gonna draw this. So it's a little variation where I got in off the original setup, and now I'm gonna trail my stop based on the second setup. That makes sense. All right, so I got guys, long yes, I will stop out at 50. Other than that, my targets are, I'll keep an eye on, this is a place that can stop, and this is gonna be very interesting if this gets in here, because this is the most recent composite. See how it's kind of struggling? I think we're gonna pop right through here. If not, that's information, right? I'm gonna stop out of this trade, but then I know we're doing that. This gets me excited. Remember, the tendencies get to the other side. I think we can make it up to here. But I definitely wanna watch that zone that we broke down from last night. Slow computer. That we got down from. So this gets rolling, really this is the best spot gamma level. Remember we talked about most options, where the dealers are loaded up, watch this 30, I'm really watching this. I'll probably get out of two thirds of my position if it struggles in this zone here. Other than that, I'll let this thing run. And then, if it does get through that zone, my ultimate destination will be the red lug. Actually, the red lug's right there. So I will watch this very closely. I thought this red lug was much higher. The 3780, it's pretty close. This isn't the best trade as far as entry. I'm risking 18 points to basically make 11. That's not good, because I get out the lugs, but hopefully you can just blow it right through there. We'll see. But watch 3780, definitely watch 3800, watch this spot gamma levels up here. 3794. All right, so I got, sorry guys, not a lot of action today until right now, but I can't control the markets. I wish it. Yeah, thank you Scott. Oh guys, no, Tom is not, I'm sorry, my mistake, he'll be back on next Monday. So, you know, no worries there. Yeah, so we'll see you, not next Thursday, the Thursday after Scott. Yep, appreciate it. That's all I got. Okay. All right, thank you Scott. Okay, thanks. All right, bye-bye.