 All right. Good morning everybody and welcome to the book map ProTrader webinar today with Scott Pulsini we do this actually With Jay Trader and Scott we do this every Wednesday and Thursday Scott's here every Thursday During the book map advanced education and he's also a part of the ProTrader webinar this week as well And he will be trading live. It is in demo. I'll go over that in just a minute here, but it's the view and insight to peeking over the shoulder of a professional trader with Futures here. So you guys know Scott's background pretty pretty interesting background here and featured in a trading book by Brett Steenbarger He will have his Scott's contact information. I will put this into the chat so you can reach out to him He does offer mentoring services and education. I need to go through the disclosures and we'll turn it right over to Scott general disclosure all book map limited materials information and presentations are for educational purposes only and should not be considered specific investment advice nor 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 risk disclosure trading futures equities and digital currencies involves chance for risk of loss And it's not suitable for all investors an investor could potentially lose all or more than the initial investment risk capital is money That can be lost without jeopardizing one's financial security nor lifestyle Only risk capital should be used for trading and only those with sufficient risk capital should consider trading Past performance is not necessarily indicative of future results. So it's important. You understand these disclosures He will be trading live. It is only for educational purposes and in demo. Alright, so with that take away Scott if you want to share your screen and Then I will Re-broadcast it here I can hear The jumping yeah, I'm sorry I've turned that off, but I continue to get it back Anyway I Don't know what's up with it. I'll have to look into it further, but I've gone over it every single time and it's deselected but anyway All right, so everyone should be able to see scots and my screen. I'm re-broadcasting it here And it's also in YouTube streaming live right now. So All right, so this just fired off in Aztec you had a almost 200 ice here 194. I just drew this zone You know, obviously headlines are dominating you can have the best position on a something comes out It means nothing just kind of like you're trading right into a number, right? I mean the but you know volume real-time volume is the number one driver of all markets but if something comes out you can have the best volume setup and That's out the window. So and that's been happening a lot lately. So, you know, what I tell my trade room is If you're gonna trade this environment you accept the risks You know, I've accepted the risks, but doesn't mean I still complain about it because it's a little bit been a little ridiculous lately because Especially you don't know what headlines are fake who's putting them out so on so forth But it doesn't matter because the algos that run at least 80 to 85 percent of the market You know when they these these news that news headline mark or Algos when they see that the headlines they just fire off the orders and you're you're out of luck. So That's the risk you take in trading in these markets. It's very volatile. I think it's too volatile, but you know Again, it's volatile, but then it's then there's uncertainty as well with the headlines. So Point of that rant is just be careful in this market environment if you're gonna trade it So I got this zone Nasdaq will come back to that a second. I am long. Yes, I've been long for a while Since right after the open you can see here there was a There's a bunch of cell ice down here you had Get all the cell ice here, so this is like 700 400 400 500 500 So there's two different zones here. So The second one the most recent one was Was this one and I Traded aggressively out of this zone. So the way I Aggressive it the definition aggressive for me is trading 80% of a five-minute ATR. So at the time ATR was Seven something seven point two nine. So that was five point eight three points out of that zone So six points out of the zone. I got long. I actually did the patent retest failure So we did get the full ATR we retested the zone and then it took off So you could have you know if you're waiting for a conservatory you could have gotten in that way as well So the reason I was aggressive down here if you guys have been watching the webinars lately. I'm using these Ludwig levels They're absolutely incredible. You can find them at Ludwig levels comm just say some on the book map book map webinar and she'll give you some goodies but These things are incredible for support resistance for targets so on and so forth. So anyway We were down at this blue lug as you can see which is support this and red lugs resistance and then yellow is directional We'll get we'll go through this during the webinar But you can see it kept trying to get through this this blue lug And I saw a volume set up and that was go time So if we're below the yellow lug directional log for me to go long I need to see what I just showed you or say we get a bullish set up and I need to see a full retest of the Pretend this is a setup. I need to see a full ATR retest failure for to go long But if we're at the blue lug and I get a set up I go long aggressively So that's what I did there again. It retested anyway, but I don't take the chance for a retest at the blue lug Because I know how powerful they are when it bounces off there. So I Basically been long this whole time. I went all the way up to you know, 52. I'm still in it There was no reason to get out there. So the reasons I will get out of some is You kind of see we stopped in middle of nowhere. So it wasn't like there was VWAP. We got through VWAP There was nothing here. So I'm not getting out until No, we either get to the yellow log. I'll get out of a couple You know ultimate destination is the red lug if things go correctly or if I see an opposing setup So if this thing starts to move up here and I get a SI indicator Set up kind of like how I got in Then I will get out of the trade right because I don't ignore So say this comes up here and you get some more sell ice, right? And it fails the 80% of an ATR out of that zone. Well, I'll be out of the trade But until that happens I sit in the trade and that's you know, the number one thing traders top-sell CL Unsuccessful traders Can't do is sitting trades, right? So when you have things like the volume and these Ludwig levels You know again, I can sit in this trade because I've seen this happen so many times where we're here and here And these are my targets, right? These are my targets unless I see an opposing setup and you sit in the trade You let the Algos play their games with you and then eventually it should get there if something happens And we do get a better setup like say this comes up here and we get a better setup again I will get out 80% of an ATR. You shouldn't see better setups Well, actually we are below the yellow. So I take that back But if I see a better setup, I will end up getting out and then if it goes ATR retest failure, I'll go I'll short I take that back to I'm sorry. I keep forgetting. We're at Let's start over. So if this comes back this comes up here right now and I get a better set Let me show you this screen because it's easier to understand Because we're below the yellow right so I based my aggressiveness if we're above or below the yellow Love based on the setup, right? So say we come up here. We get a setup. We fail I'm out of this long and then I'll actually flip and go short aggressively because we're below the yellow love, right? So sorry for that confusion right there. I was forgetting about that. All right, let's see crewed been real crazy lately ATR right now is Again, 94 ticks. It's just The other day it was like 140 so you know if you again if you're trading this stuff the volatility is crazy You got to cut down your size. We talk about this every week. I'm using like a risk calculator based on your account size So you don't you're not over trading your account And then you also got to be ready for a headline right not that you're ready for it But you you have to accept you can have a great position on and something's gonna screw it up. So especially in crew We'll trade this if the opportunities here, but I'm Not holding my breath something silly won't come out headline wise all right, so Basically still in this zone Let's see where we are on the lugs. We call them lugs a short for log with levels obviously because I don't feel like saying Love with level 45,000 times in a day so you can see here. So there's some there's some thesis VCs with a lot of big levels as well and again I posted that webinar I had with Pam a love wig multiple times in the air if someone can post it again if there's questions I've known to see it It's just her and I Discussing the best way to use these because she's just used them always using she's been around for like 11 12 years And she's just used them basically just trading off low levels And what we discussed is how she uses them and you know the certain certain factors that she she looks at to take Trades and then you know I kind of explained her during that webinar If you can apply real-time buy-in with your levels you have something incredible, right? So anyway one of the main things she talks about right at the beginning of the webinar is if you you know You get above directional yellow as you see here and you do not tag red That's a warning sign. It doesn't mean it can't do this and then come back a tag red But if you don't tag red and then you get back below yellow, that's where you should be going right so right now My thesis is short I'm expecting that and since we're below the yellow log now. I will take this set up aggressively meaning So 98 you can see the five-minute ATR is 98 ticks. So I take 80% of the ATR 78.4 so 79 thick below here I will short so this is the most I can trade as a one lot in here, right? And again, if your account size is not big enough, you should be trading Micros and if that's not big enough for micros and then you shouldn't be trading right now, right? So, you know if I have to so let's first do this So I would be in 80 ticks below here 79 ticks below here puts me at Can under this trade at 108 38? So if I get filled on that I have to then risk this is the way I trade right so I know traders watch this They're like well, what the hell? I don't want to be risking, you know 150 ticks. I want to get in and I want to get in right here and I want to stop out I want to risk only 10 ticks or 20 ticks. Well, guess what the market doesn't care what you want to risk This mall market is ridiculously volatile if you if you get in and you just risk, you know 10 20 ticks in the middle of a zone the very good likelihood you're gonna get stopped out of the trade, right? So after three years watching thousands and thousands and thousands of these setups I have determined for myself the best way to trade these areas is the way I'm trading them as far as you know 80% of an ATR ATR if I want to enter conservatively I wait for full ATR retest failure things like that It doesn't mean you have to trade it that way But I'm just telling you learn from my experience of watching so many setups over the over the years That this is the best way to trade them, but you know you what I say every webinar This is a science. This is the science. There's no disputing. This was a 228 lot Stop run how you play these areas? That's up to you I'm just telling you, you know, you may want to take my version and kind of put your own spin on it but you know again if you're just getting in Views of for instance, I get filled right here, and I say I don't want to risk 30 ticks You are almost guaranteed this will pop up and stop you out because this area means nothing without real-time volume, right? So I'm now short and My stop will now go a sweet 79 ticks above this zone That puts me at 110 60 1059 Again, it looks ridiculous, but this thing is moving three four hundred ticks at a time So it's not you know, you're just adjusting to the volatility is all you're doing and you can see here's another thing We look for for you know The trade this trades in my favor From what I've seen in these markets, right? So you can see here this volatile or this volatility this liquidity, right? So these are big orders in the order book What do you see up here? Nothing black hole, right? So again traders that don't know what they're looking at they look at all these bids and they're like you see these These bid all it's showing you is the order the order book in this format, right? Which is much easier to to figure out what's a lot. What's a little right? Most traders look at this and say wow someone really wants to buy I want to get long It's it's actually the opposite someone wants to buy and the big money could push the market around and they will get there The market to fill their orders and then it can go up, right? So what I tell my room every day is it okay? Just because you see this liquidity here right now It doesn't mean we're we could but it doesn't mean it's just gonna pick it off pick it off pick it off Pick it off it could do this it could do that could stop me out could play games But you can the odds are by the end of the day all this liquidity will get filled So it just helps you determine the direction for the day, right? And then you use things like that and then you you know for your traditional bar chart structure readers Which I am right you want to know where we are in the bigger picture and you can see here So again, I'm still in this trade until I see an opposing setup and or the yellow log and I still will be I'll get out of a couple Come back to career in a second. Yeah, see there's nothing here So you know what what some guys trade off of and this is what I'm talking about it coming up with your own Trade plan you just have to be consistent in doing it some guys will get out at VWAP, right? So say they get long here they get out of a couple of VWAP. That's fine Some people get out at daily value area. What's daily value area? That's one standard deviation away from VWAP Because the reason is a lot of these algos play Reversion to the mean so when you hit these areas like here, you'll probably see some kind of reaction, right? So you can get out there. Here's one and a half standard deviation from VWAP Here's two standard deviation from VWAP, which is gonna be real can real close to confluent with the yellow log So unless again, I see a setup that is bearish I'm gonna hold this thing and hopefully we can get up there And I'll probably get out of one or two and I'm gonna hold at least one and see if we can make it all the way to the red Look, you know, and if we get a setup that's bullish, I will add to this trade as well Again, we're below the yellow log. So for me to add I would need to see So if you say that's your setup, I need to see full ATR retest failure and PI size for buy Yeah, here we go 700 contracts. So this is what I'm talking about now. I can trail this stop and or add to the trade 700 that's my threshold And I'll go over here. There's always questions on how to draw these knowns. I know it seems confusing, but it's really not It's doesn't get much more simple, but we'll go over here in a second. That's not actually right I forgot my little waterboarding. It's not waterboarding. We'll go over this too It's not waterboarding I call waterboarding because it's torture when you have a position on going against you You get to watch it and hear it and that's not so fun. But when it's going your way, it's actually really fun It's like an amusement amusement ride And that noise in the background is financial juice is the squat box that obviously is very important these days It doesn't really matter I mean Basically what you're going to know you're going to find out is why you got run over because you are not Going to be fast enough to trade the headlines, right? So it's I mean, it's just good to hear why you got crushed But you're really not going to be able to react to it most times. All right, so what I'm going to do here quickly I can find my ATR is 8.77, right? So 80 percent of 8.77 It's 7.01. So I round up so I'm going to go seven and a quarter Points below here and that's where I'll stop out of the trade So this is 50 50 It's 53 50 T three-quarter is I'm sorry 43 quarters where I'll stop out of this trade One second here. I gotta Let my auto trader guys know what I'm doing That's what I'm going to take on this end. Uh, sorry Scott lost you there for a minute I said, is there any questions? Taking that in I was just taking something to the auto trader because I'm long on that as well So I just was seeing while I was pausing if there's any questions, but you can hear me, right? Uh, yeah, sorry. Um, just uh, just just a second here. Um, just answering somebody here. Um, all right And questions All right, so while you look at that So this is the setup I try to make the icebergs, you know the same color so We use blue for I use blue for buy icebergs buy for sell icebergs And I'm sure there's a lot of new people on here that don't even know what the hell I'm talking about when I say iceberg So icebergs are hidden large orders That come through that they can literally hide them in the order book And you can't see them In the dome depth of market. So dome means depth of market. You can't see them in here, right? But when it comes down in the price trades all of a sudden The market runs into a blood lance what they call an iceberg It's like running into a boat an iceberg, right? So they're hidden orders that populate Once they start getting traded into so You can see here this market came up here and they started to sell it and ran right in icebergs, right? So that's where the iceberg is So again, I am stopping out of this trade now This should not get 80 below here if it does this has a potential to turn a new a bearish setup, right? So then I will be actually what I'm going to do here I'm supposed to do right because we're below the yellow lug not only will I stop out of that I will enter short right over that here on the lugs in one more second, but Right now I'm going to hold this and hope we can move higher. So if we move higher What I'll do again because we're still below the yellow lug. I need to see a full atr. So eight It's up to nine now 9.1. Actually, I gotta adjust the step to On nine 7.27 so that's seven and a half I can move this down to So what I'm what I just did is I put in the five minute atr That's now up. So this is like a dynamic way to trail your stops and so on and so forth You're adjusting the volatility. It's up to nine points. 80% of that is 7.27 So now my stop is seven and I round up so seven and a half points below this oh, which I'm about to be stepped out And that'll be short The reason I'm gonna stop stop sell in Q 203 contracts and then clear Um, so anyway, the reason I'm getting short is because we're still below the yellow lug, right? So again, I gave that every opportunity to roll and then you got a setup that is about to be a bearer setup It is a bearer setup, right? So now what do I do now? I put my stop for this short Seven and a half points above this zone might have too many on here because the volatility is I do have too many on here. I should only have and we'll go over this here too as well as far as the uh Oh, I'm judging my contract size So this top of this zone's at 50 50 Right, so i'm going seven and a half points above there 57 75 is my stop So the reason again, the reason I went aggressive short I stopped out and went aggressive short because we're below the yellow lug if we were above the Yellow lug then I would have waited and needed to see full at our retest failure then when I got short But that happens here And as they could actually come the back into that zone So this is that by ice that we drew right here We obviously moved an atr well over an atr above there the atr and aztec is 40 42.88 so 43 points That was deaf. That was almost It was almost 100 points away Let's see where we are on the lugs So I'd be nice. I just want to sell DS Right we want to pay attention to grains too. There's I'm an absolutely crushing grains crushing beans. No pun intended For the green people because of the bean crush. Yeah, I think it was intended, but that's okay. What'd you say? I think it was intended, but that's okay Yeah, you've heard enough of my webinars it was you win. All right, so this is where that ice was we're above the yellow lug We did get a full atr So the reason I didn't go long initially because actually the ice was down here and we're below the yellow lug But now we've gotten above if we come back and retest this that ice area that I'm about to show you again And we bounce off here and go 80% of an atr I'm going to go along Which I'm hoping doesn't happen because I really don't feel like having dueling positions on between naztec and es But it is what it is. I trade my I trade my zones independently or my contracts independently, right? I'm not saying well, I'm short. I'm short es So I'm not going to go along naztec. I have to play my areas right the whole idea with this If you want to trade like an algo you have your rules and you follow your rules and that's and that's it Because the only way you're going to compete with algos is if you trade like an algo if you trade like a human You're going to lose money because you trust me. I used to have some of the best intuition Out of anybody being a scalper in and out all day long Again back then I used to trade 50,000 contracts a day round turns the e-mini smp And that's when I was only trading 500,000 in a day. So I was 10 of the volume every day So I had some pretty good intuition right nowadays My intuition is basically backwards So that's why I have you have to rely on You know your rules and your setups because when I have a feeling something's going to happen It's usually wrong because these algos are built to go against human nature And that's why trading is so hard because you have to literally go against your human nature So it means I I'm going to show you this weed. I don't want to go back to weed. That's very disturbing I missed a monster trade this morning because I got a poi from my desk. So let's see here 300 that's So threshold and beans is it's 150. I like to see over 200, but this is definitely threshold Hopefully I didn't miss a trade in here as well when you see the weed trade It's very very sad by ice obviously so You know for newer people that don't understand how to draw these right all you do is you come up here You get a little crosshair, right? And then you have to spread out your chart Scroll it out and pick up all the prices that occurred in this spike down here, right? So that spike happened Should probably got this too long maybe not Say I had it too high let's see All right, so you can see I incorporated Yeah, this is a little high for where it started But it ended up coming up here and it was still inside the spike So I got to put my zone up to here and down here. That's where that was the low of the area Low price of the spike, right? So Spike my meaning by ice there So that's that zone We're launching out of here right now next step. Look at your lugs Look away the levels What you want to see? It's the problem with this It's not good So we're working last night. I mean like yes prices Huh, all right. Well for the meantime, I don't have time to mess with that So if we were above the yellow log, I would have taken this trade aggressively But either way I would like this trade if we get a full ATR above retest fail I'll go along So next step is ATR as you can see right in here 4.21 So I need to see four 4.25 points out of here, which we got Retest failure. I'm in 80% of an ATR alone I really wish I know what the lugs look like but again, I would be getting this in this position Hardless on a full ATR retest failure. The problem is I If they were working, I would know for that for that contract anyway I would have been in aggressively 80% right? So I may miss this trade just like I missed wheat Might as well just show you this right now to get out of the way because it's making me sick to my stomach You can see this trade earlier on Just unbelievable and then you even got so you had sell ice here. Is here right here This is what you call. So this is one of my six setups It's called Titanic setup right so sell ice came in you can see this heavy buying you ran right into a mouth full of sell ice We even got the full ATR away This is definitely an ATR away because this was almost 20 cents came back retested perfectly fail Monster huge. Look at this trade that I missed. This just makes me so sad. Look at this This is like a 40 40 plus cent trade 50 cent trade. So again It's the exact same tick Increments as E-mini S&P. So it's like missing a 50 point E-mini S&P trade very very sad So might as well just continue the streak here and see if I missed this one too But it's not my fault these I don't know what the problem is for these lugs I could restart my lugs, but that's going to be a big pain. So I'm not going to do that right now All right, so probably missed that trade as well Grains are been I mean, I've just been literally killing. So it means all right So we're here's the retest of this zone now in Nasdaq So you can see what are we doing here came back to the prior zone and it bounced right off of there So I may Depending on where we're at here. I may get out of one into this prior zone Because prior volume zone so this is real close. So you can see this we call these baby lugs See this right here Called target and then this is the major lug we could bounce right off of here I may pop out of one here Because we're so close to the blue lug again. I don't mess around with the blue lug, right? I'm gonna get out of one right there. But if we We get down to this blue lug. I'm getting out of the other one and I'm just gonna wait And see what happens because again these things are so powerful What I what I want to see then is us to move lower and then build new lugs And then then I'll get back in short, but I do not I do not hold shorts hoping we build new lugs Right, what do I mean by building new lugs? I like this right here. So you can see we came up here yesterday afternoon And we built new lugs, right And one of the one of the things again when we talk about on the Pamela Webinar is when you build new lugs If it's going to continue you want it to hold directional yellow and prior red And you can see it kind of it looked like it was going to and then once it got below prior red Gone and your target's blue and that's where to head. So my point is like I'm getting out of this trade right now and I will wait and see what's What's doing Right at the blue log So I don't need to see a volume set up in this instance. I am out at the blue lug, right? And I'm just gonna now I'm gonna wait for another setup. So we traded that pretty well, right? I mean look look how well these zones work guys. Like this is not So it's not just like flipping a coin Buy ice this this is another setup in my six setups. It's called broken ice. Someone tried to hold this market down Wrong puke Then they got broken ice up here too. Someone tried to put buy ice and they're wrong, right? So It's not a coincidence this thing stopped here Why did it stop there? Well, there was buy ice that was incorrect and then when when The big parties are wrong or a lot of times and they have to puke them out, right? So That's the whole and again what I explained to people like these setups in my course that I that I trade off of It's not hypothetical stuff It's when I was a large trader how I would react when I was caught when I was right and back then you can see counter party I said so every webinar you can see counterparty So I'd have a little box down here and every time I put a trade in I would literally so say we come down here And there was like a thousand lot here I would sit there and ping it with one lots and it would show me would show one one one one one And it would show me who the house was meaning who was on the who's the counterparty So I'd see like 910 990, which is my absolute nemesis 714 I can't remember we were oh two three Anybody old trader I'm back then wouldn't know these very well But anyway, I would see who I was trading against and I can see when so say I would just come down here And I'd see the thousand lot and I'd sell sell them a thousand and I'd look over and I'd see all of them more 990 I'm like, okay And then so I know it's them, right? And there was they had one big trader there that was I would go head to head against every day And then Say we go down a little further and there'd be another thousand lot and I'd sell another thousand I look over and I'd see 990 I'm like, okay now he's loaded up with 2000 And I'd be saying so he's long 2000. I'm short. So I'm like, okay And when you trade against the same people every day you start to realize How many they could put on what's their like limit and that guy back then could put on like 5000 contracts So I would just watch and I'd say, okay, and then if I knew I had him I would just step on the gas and I would and then he'd turn around and puke them all out, right? So that was the games these guys these these markets are nothing but games right and there's still nothing but games And what I tell my room every day is you can sit there and complain that You know, this is impossible. It's manipulated so on and so forth I approach it. I used to be like that too Trust me, especially when I got knocked out a game when I went from millionaire to not a millionaire Because I couldn't make money anymore scalping. I was the same way, right? Like this is fixed. This is so rigged blah, blah, blah Well with this information that you see here, you now get to participate in the game You know what the game is, right? So if you can't beat them join them say at every webinar, right? This is the game This is the game if you know how the market reacts to these areas You can participate in the game and be successful Most traders have absolutely no idea what any of this is and they're not using the most important part of trading is real time But it is the driver. I don't care what lines you have on your chart You know people they they get fooled by you know when they're watching they're looking at charts and they're like well this You know this say vio app vio app is right there. Well, this bounce off vweb app is a great trade When I when I learned how to trade I was the same way I was like Okay, well, but I wanted to know well, how come this time when I went came of you who have one right through it Like what was the reason how come it didn't reject at that time? Well, the reason is is because of the real-time volume So you can have the best lines on the chart the best indicators including Ludwig levels And they're not as important as if you have Understand what the real real volume is doing at those areas, right every day. I say I'm sorry guys for Those have been on my webinars my hundreds of webinars. I've done I say the same thing because I'm just It's just what it is, right? All right, any breath any questions verse This checker crude short and sure it's a dandy. Oh, yeah already stopped out. Look at that That's just nuts I shouldn't even be trading this thing. It's just it's just too volatile. It's too volatile If that's something sniffs the headline the thing just turns around and rips. Look at this. I actually had Head over a hundred ticks in this trade and then here's another thing you guys for for lessons So you see this liquidity, right many times First time Donald liquidity the algos pick up this big order in the book and it's big relatively, right Compared to this stuff. It'll run the market away from the liquidity. Trust me. It'll get back down here eventually But if I was watching this we were on something else I probably would have gotten out we talked about this in my room every day Especially in this market I probably would have bailed out of one there when it started to run away from this liquidity because I just know That game as well once again if you know the games You're joining them I didn't really hope and that was a lot. It was not a lot. No, it was not so a lot. So that was a At least I didn't have to watch it just to quick pull the band-aid off trade there Any questions Bruce Yeah, um, let me stop talking for a couple seconds Uh, let's see gizu is asking about your atr Uh, is that at 80 percent or 75 percent five minute it used to it used to be 75 I moved it to 80 because I kept getting steps to stop to the exact tick So I moved it to 80. It's been a lot better I still get stopped to the exact tick as you guys see every webinar about 10 times a day, but Um, it's better. So I moved it to 80 again. You can you know, that's how I trade it If you if you watch enough setups and you say, you know, I like this approach I like getting in at half an atr Do whatever you want. It's your money. I'm I'm just showing you guys how I trade after watching this stuff for thousands of setups What was the guy's name gizu? Yeah, gizu like in the Flintstones. Yeah All we did is just show all how we are by the way because nobody under the age of 40 knows what the hell we're talking about So you just showed that you're almost 80 Bruce I'm getting there Just turned 50. I just turned 50 last week. Yeah, wish me happy birthday. Yeah, happy birthday I'm a I'm a few years ahead of you not much but a few um, so, uh, let's see Oh, okay, so, uh Yeah, Justin, uh, looks like you're getting answered there about the uh, Ludwig Ludwig levels So, uh, that should answer your question. Um, and uh, no, I think we're kind of caught up. Uh, no, hold on youtube There's a question over here what your, um sweeps, uh for Your black mamba and white snake settings are Um, let's see in here. I'm sure there hasn't been an amp. We have the setup right So for some reason and again, I I need to go back I keep saying I just haven't had a chance lately to go back and and do research on these sweeps Sweeps are way more Pressure-wise, so if you want to play a sweep, let's find a market that had a sweep in it today Obviously, there were no 800 lot sweeps and uh, yes Oh, by the way, this zone now in nasdaq is negated right because Here's a sweep right here. We'll go over this in a second. Um, no, this came out here. Actually, I missed this What am I doing? Let's see. Yeah, this was definitely a setup. You can see the sweeps correspond with it too. So this was a 200 lot stop run right and there were another 700 or 500 beat behind that. So there were 200 sweeps here There's a white snake and here's another boost does not like when you call them snakes, but I like it because it's funny So and they look like snakes, right? So what I'm going to do I'm just going to incorporate all of these sweeps. So you got this sweep and then this sweep So this is actually the newest zone that I could trade off of and I probably would already be in this trade because I think we're below the yellow Look There's another trade that I missed and as you guys all know every every trade I miss works out absolutely absolutely perfectly every single time Like the wheat trade Let's see here So what I was saying before I saw this was this zone is negated because we got it a full atr above it This one here that was the bias earlier And now we got a full atr below it. So that's done. That's erased the newest zone There's this stop run and snakes. So what I was trying to get at with the with the quantities You got to be careful and I don't know how I don't really have an explanation for it You know, the snakes are always much much higher or there's other sweeps I prefer newest sweeps on the webinar the sweeps are much much higher than My setups in the stop run, right? So like for instance my if I see a 200 lot stop in nasdaq I'm drawing the zone. I'm trading off it. Well a 200 lot sweep In nasdaq is nothing which I know it doesn't make sense. But for some reason that's the way it is. So 678 that that's a lot, right or another 400 500 behind the stop run. Yeah, no Scott no, no, I mean, it's like not all all Are you know, it's just a larger player dumping and then triggering 200 stops in there along the way No, no, no, I understand that I understand it's combining. But what I'm saying is The market doesn't respect the area the volume area on a sweep versus One of my one of the setups stop iceberg, right? So for instance If this if this was a six a 700 lot stop run, I'd be like, oh my god, that is incredible That's huge. This area is going to hold. It's going to it's going to the area is going to be a difference maker, right? When I see 600 a lot 700 a lot sweep, whether it's part stops or not The market doesn't respond to it as well as all I'm saying, right? So icebergs and stops the mark That's what I trade off because the market responds to those areas You need to see the threshold for sweeps are much higher is what I'm saying to draw zones off. Yeah, that makes sense Understood. Yeah. No, I'm yeah. I understand that the sweeps part of them is some a big player Just dropping them in and barter mum was somebody getting stopped out the retail trader getting stopped out, right? All right, so let's see what I missed here See where the lugs were above so I would not have gotten there aggressively, but I will trade this retest failure short If we can get up here But I take a while we'll keep an eye on that unless something new comes in No, all right. Yeah, you're having getting a retest right here of the soybeans I will trade this to the long side You guys will just see these setups all day every day every futures market. It doesn't matter volume is volume You just need to know your thresholds and your setups and then you have the ultimate edge So anyway, this was definitely an ATR. Here's your retest 80 out of here I will go along and I you know people that did not don't understand these Are new to this or like why wouldn't you just go along right here? Well, you could right but there's nothing saying that this isn't going to go right through here now So from my experience the best trades are waiting to see this area hold and move away 80 percent of an ATR. That's the better trade. Yeah, you have to risk more on the trade But it's a it's a more sure trade than just hoping That this area holds on the retest, right? That's why I do that But you can say screw that I want to get in right here I think this area is going to find do whatever you want to do again It's your money, but this is again from watching thousands of these setups. I found the best way The the less risky way to trade these things is to wait to prove Let the area confirm itself and then get in 80 percent of an ATR, right? So that's confusing. That's why I do that Um, there are instances where I will get in I've done it a few times in my room in the last month Where I did it one time in ES it had this exact look and it came in and it was right in the middle of the zone But it was confluent. There was the yellow lug was there We had VWAP there and I'm like, you know what? I'm going to take a chance and I'm going to put on a few right here And then I'll play my traditional entry and I'll add to it and it actually worked out It turned out to be like a 40 point trade There are instances where you can do it, but what I tell especially new members guys that you know You guys that get the core or get the You guys that get the cores and they don't really know what they're doing I highly recommend you trade them the conservative route to start and then as you get better Understanding them then you can put your own spin on it, right? But I'm just telling you it's from my experience. It's not that I like to risk more I've just noticed it's just a better you have better odds of a successful trade So at iron here is 4.13 80% of that is So three and a half I round up the three nap points out of here. I will go long And I think I can whip on three here. So that's 89 75 90 quarter. What happened in my What's going on with soybeans today? I lost my big column here So Bruce, how do I just bring it without bringing up a whole new dome setup? How do I just bring up a big column? What do I do here? Uh, just yeah, right click in there. Um, go to trading dome Right and then select, um Orders Orders. Yeah, try that. Oh, I'm sorry to add 12 columns and it adds like 12 columns So hold on market depth to do market depth No, that's not it. Yeah. Yeah. I mean, um, then then right click in there And then configure go to configure And you should be able to configure that to what you want like Just show that the bid depth Yeah, select that How come I'm still showing you an offer on this side? Um, so, uh There's a kind of a under display like that. Do you see the kind of like, uh, it's just yeah, see that one up there just Click on that click on that. Yeah. Yeah, so it doesn't sell no the blue one the blue one Yes, yes There Should do that Still showing me red So I usually have to do we'll just so no, here's here. Here's another way just um, so, um uh Delete that one and go to um ask Okay, right click no go down a little bit lower right click and then do insert column Okay, and then right click in the that one again And then configure And then configure it to Yeah, same same back to back to here. So go to go to bid deselect. Yeah There you go. And then deselect the, um, uh Uh The colors there Why do you deselect the colors? No, it's kind of Is that green no This is fun So what I usually do is just go All right, that's good enough for now What I usually do is I'll just click on this and then I'll go to trading dome and then add the fall count Sure, sure and then just delete the other columns and just delete writing But yeah, I mean just just by by doing this and then and then configuring you can you can get whatever you want Why is it still saying why is it still saying ask though? Well, just go up to title and then put in bid Up on the top It says title. Yeah, no no one more down No where it says title ask in in the box. Yeah there Right, but we'll still put it. I'm not worried about what it says. I'm worried about we'll still put it in as a bid Yeah, yeah, yeah, yeah, it's on the bid. Yeah I don't see it still it's still coming up as a cell count That's what I'm talking about. Okay, so right about okay, right click again Okay, figure configure Yeah, okay, and then Uh, see it see it says uh under sell there like so turn it to to buy A very bottom actions Oh, okay, that's how you do it So no the arrow to yeah, there you go Until I haven't done this Um, what do you change it to so, um Okay, let's just do this Unless you want to explain it. No, they will do this another time. I'm taking I'm taking away too much time in in your webinar I'm sorry. All right, so let's just do this. This is what I usually do. Yeah makes it easy for me Yeah Yeah, yeah, that's this is the uh default on the uh, uh dome configuration All right, sorry about that guys all right, so Three and a half points out of here is 80 90 and a quarter where I will go long You think I know how to use this but I'm using it for three years, but not so much Just know how to use in the basic sense. I don't want to confuse myself All right, so that never retested so it looks like yes, it's still falling off the table Which I'm fine with right we came into that blue lug. I'm fine with that, you know getting out there I'm just waiting now There we're just kind of just bouncing around this prior this prior bias that got run over Right, so many times When this stuff gets smoked when it comes back, that's what that's what the retest failure is right the guys that got smoked They're holding their breath and when it comes back they start to peel out of their trades They have a bunch of bids in and they don't get filled and they start to chase it out of here So that's what retest failure the whole concept behind that is because that's how I used to trade All right, so let's see if we get some new looks here and not yes Sorry, that's my squawk in the background, but I can't turn it down without turning down the alerts. All right, we're still here Let's see if we get any new looks Still hovering at the blue any other questions verse Yeah, a few questions coming in, um, let's see on youtube, uh, so hold on So, yeah Ronak is asking about which is the Best indicator or one you like the most in book map Well, the si indicator is number one I don't use a ton like especially on the book map charts. I have the si indicator I have on chart si on chart You just want to be careful with that because people get confused with this right so I like to see Concentrated volume in an area. That's what that's what stops markets or where markets react, right? When you have the on chart it's showing you icebergs, but it's showing you for instance Let's see if I can find an example here It'll show you I'll look for an example, but it'll show you say for someone There's like a 3 000 lot iceberg say it's all at this price right by iceberg and we come down and we touch it And it'll show on your chart. I don't know why There let's let's do it this way Just make this uh less of a threshold Hopefully we can see this First why is this on uh, why won't this go to zero? I try to delete the aggregate Let's just do this for now So so you can see there's a tiny iceberg coming in you see this little spike That's what this is right and it's still there. So this can turn into a big iceberg This means this is one basically one house that's getting that has a buy iceberg here right so my point is you got to be careful because And what you have selected as far as what it's showing you because say the market does this see how this is still getting hit See this spiking This is one house that has a big iceberg see how the market's like running into it and it's really not doing anything So what you want to be careful of it'll show you the icebergs that transacted and then it'll move away And it'll come back and then it'll transact another 300 and another 300 and it could be a 3 000 lot iceberg But it's spread out over like 20 minutes, right? That is not going to like affect the market as much than running dead into a 3 000 hot iceberg On the spot and that's what the sub chart shows you so that's where you have to be careful with the on chart information Yeah, and you're filtering you're filtering for the on chart. So you don't clutter up your on chart Where the where the sub chart is going to show you everything Right and the sub chart shows you concentration right so this one would I don't and that's the other thing right So I have thresholds where I will trade or not trade This is another mistake people get when they first get this s i indicator They get all giddy and they see a spike and they just trade it. This is not enough 200 lots 281 lot iceberg and s and p is nothing or yes, there's nothing right So that's not gonna you want market moving volume market moving volume from my studies for trading this again thousands and thousands of time And my in my course that I did almost two years ago now the thresholds are almost exactly the same to this day Which is pretty impressive because I only was watching it at that time for like four four months, but My settings in here I'll show you you go here and you can see 500 for icebergs I'm sorry 500 for stops over a 10 second period because you know you want to see stops are quick They're not you don't want to see like a minute worth of stops because that's not giving you a true indication of what's going on Right at that moment right so 500 on the stops for 10 seconds 700 for icebergs for 60 seconds for a minute right you want to give them at least a minute to materialize to materialize so Those are the volume thresholds that I have determined from trading so many of these that make a difference That will move the market that the market respects right 200 the market does not respect or it's not going to make a difference in the market you know Most times so just be careful when you get this on your chart You're not just trading every spike on this si indicator right? You also want to be careful too if once you get this if you watch the course you get the thresholds and you're like I had this happen right when I released the course um back in that day where It was actually a nasaq and it was a day where nasaq was going crazy and just like volatility volume increases on certain days too Right so it was like in the course. I have a hundred or 120 as my threshold right and that day it was like 180 220 220 180 right there It was over threshold like every three minutes and I would get an email like well. I don't understand I was taking these setups. They were 100. I saw 100 iceberg and I took them and I kept going right through them I don't understand You gotta use a little little judgment on a day where you're seeing You know almost twice threshold. You don't want to be using your normal the normal 100 120 threshold Right you need to say okay today today. I got to increase my thresholds because you should only be seeing these setups a few times a day You know Five times a day max usually right so you can see right here. What have we seen in yes We've seen basically two setups so far in in two hours right or an hour and a half You have this one here. Actually there was two but this is all in the same area Right and then you had this other than that this stuff doesn't mean anything as far as market moving Right so that that's what you got to be careful of as well So again, I'm you know, I could have held that yes, but that's not how I trade I just know how powerful these lugs are and that's the reason I got along the first time We did bounce off and now we're through it now. We should be getting new new lugs SMP I size for by yes 700 compress no new lugs yet, but here comes another setup You can see the sweeps Someone just dropped in a bunch. They ran right into bias. That's 500 This is another 200 so he read off 700 Mr. Computer guy because he's taking so I have this on reset mode So it's taking a consideration that and that and it's putting them together because it happens so fast Right, so I can't draw this zone With the reset mode because you can add these up right especially with this sweep slash snake here white snake So what I'm going to do here, too Is I'm going to delete these zones because we definitely got an ATR above there. This is the salis from earlier And we're now But you see how well like when we were up here See how I didn't screw around like This should have held this bias if my bullish sentiment if the bullish move was going to continue You see bias come in this should hold move higher I know from trading these so many times that if it gets below there, that is not a good sign I am out right and I just say myself 30 points By not just holding on and hoping that it comes back right. It's like I'm out wait for my next setup Again, I got the squat guy on but it really makes no difference because by the time something comes out The market's going to rip in your face anyway So we'll just draw this it's not a ton I'm not really excited about you on this but the point is I'm not really I need ATR retest either way here because We're below the yellow below the blue lug and I'm fully expecting new lugs of populate here in each second now So that's that zone So on seara chart you got to refresh this a lot of times So that's why I keep hitting this connected button and we still haven't built any new ones. So Just waiting on that We are on the big picture. So this is the stuff we talk about every single day in the room This is number one stuff that you want to know Where you are in the bigger picture, right? So All markets are our balance areas and directional conviction balance areas directional conviction balances two-sided trade Right. All this is the trader's place in bets some get long some get short some get long some get short That's where the balance is when it moves out of there the guys that are short have to puke. That's a directional conviction Another one Some get short some get long short long when it breaks out of there directional conviction came back retested the bottom failed Then what do we do here another balance Some get long some get short long short who wins shorts. Guess what the lungs have to do puke? That's what that is. What do we do came back retested the bottom failed this thing is going to zero Being sarcastic, but this is not looking good at all for equities So that you want to know where we're at in the bigger picture to come up with your thesis Then you drill down to your daily stuff, right? So it doesn't surprise me Let's go. I'll go take a look at that in a second on my books. I don't train that thing with these headlines here, but It didn't doesn't surprise me that this never made an even close to the lug into this, right? I I took the long I because i'm a day trader, right my day trading stuff told me I can get long But it doesn't surprise me that that happened that that bias up there got Smoked because we're in a bearish state, right? That's what I mean. You have to know Overall, it doesn't mean you can't take longs, but you better know Okay, wait a minute. We broke down. We broke down from this most current balance here Um, and then all we did is basically retested the bottom yesterday and now we're moving Yeah, we're unless we get through this high volume node of this high volume node Just where the most trade occurred usually in the balance area, right? That's that's when you can expect a big rip until it can do that. You have to expect it to do that That's the stuff you need to know where the trader Right there. There's new logs too, by the way. See him yellow now ready yellow So I have to wait for ATR retest either way here because we're right at directional yellow But me knowing the bigger picture stuff, right? I know the likelihood is we're going to get down to here Before back up to here, but we could pop up to here, but I'm still bearish until long term It just helps you too, right? So if you're you're in a trade your date we're trade day traders, right? We're not in a trade. It's like, yeah, I can look at this and you know, this is this is the problem with Trading on bar charts only right. So yeah, this look this is I could bring my 11 year old daughter in here And she can tell me, you know, this looks not good, right? So you get short you get you know, it doesn't look good Okay, you're shorting here. Where's your stop? Well, you got to stop up up here to make sure it can get, you know Otherwise you can just play games for a couple days, right? So that is not conducive to day trading, right? So I'm not saying That's how you trade this you just want to know So when you do put on a position So say this works out as a short I can say, you know what? This thing that's got kind of really motor down I can hold it right because I know the conditions bearish So that's the point of that is you want to know where we're at in the bigger picture of things, right? So like gold before we bring over the chart You can see here this thing has been pretty vertical right We had balance here remember two states theater balancing traders placing bets or conviction traders puking balancing traders plating but placing bets The longs here were wrong puke Then it came to this try to get through Try to get through then we just built new balance. Now. What do you see breakout? So this looks bullish to me, right? So what do we do here? Find the right color Try to break out all we did is retest the high vine note This should do that if it gets through this high vine note, then we're coming lower We're coming down to these areas right in the bigger one But I fully expect for a bigger picture view and you get a bind tail It's one of the four conditions of charting right the bind tail is also bullish means instant rejection So when I look at this I say this is bullish, right? I know long-term doesn't mean I won't take shorts But I just know the bigger move is probably going to be up. So then I go to my Short-term stuff because again, we're day traders You had 100 there you had another 50 there. That's not a ton I'll draw this zone. I mean threshold is 150 in gold, but I like to see much higher lately There's your zone DS on that zone again We haven't I'm waiting for a full ATR retest on that thing. So I'm sure that hasn't happened So that's that right. So we got our zone next up We already know this step. I already know where we are a bigger picture Now let's look at the Gold chart. What are we doing? We're above the L-Lug and tried to penetrate right back above full expectations back up here And you can see how well these things work came up here failure failure Back to the Lug now. We're probably making another move up there So I will take this this trade aggressively out of here. All right, so that's Probably close to an ATR below that zone 9.03 and again, this was not a huge volume zone I mean, I'll still trade it but this is not like seeing the thousand plus, right? And when you did have these 2,300 sweeps so that helps meaning When the market comes back to this area. So you just imagine if you're the trader here, right? Imagine you're sitting there. You're like, yeah, I want to get long on this on this pullback, man I'm a meme meme trader or whatever they call them the 20 somethings that just buy every dip they're Getting smushed now, right? So say you had all your bids in the area, you know, you're a big player You made all your money in tesla or whatever. You got a hundred lots sitting here You're like, yeah, I can't wait for this to get filled and then this happens just smokes you, right? So the white dots are the responsive buyers. That means this right the bit You just get smoked and then it keeps doing you're like, um, oh, that's not what I thought was gonna I thought we'd do that and you're sitting here holding the bag right now. What are you thinking? You're thinking please come back. I promise I will get out of my trade. Please just come back I won't be greedy if it comes back then I'm going to peel out and that's the retest failure Right. So my point is this was enough the ice wasn't that big But this is enough where guys enough guys got run over. You will watch Yeah, we'll probably come right back up to here and then I'll probably do that because these guys that got smoked Need to get out whoever's still holding their breath Is going to peel out when they get when it gets back up in that area And that's that's guys. I know it's simplistic and I know it's hard to believe Trust me. This is what trading is. It's understanding the volume It's understanding the big money. It's understanding what the dumb money is doing. It's understanding concentrated volume areas and Taking advantage of it All right, so here's your retest and see if you got an ATR. What did I say it was nine? I don't think we got nine points, but we did not. We only have five points So I'm not going to take this short yet. I needed to see full nine points ATR Then retest failure and I didn't have 80% But just watch these you can watch them for yourself. You'll see them all day every day big areas sweeps stops ice Runs right through it when it comes back rejects it because the guys that got crushed they're getting the hell out of their trades That's how trading works. And all you got to do is think of it like it's you. What would you do if you had 2300 contracts here and got run over Would you and you're holding your breath say you're working for a trading firm like this? This is exactly what would happen to me, right? I get run over and it would do this and I would have a You know, I'd have my loss limit for the day was supposed to be a hundred thousand dollars That's the most I can lose on a day and then my risk manager is supposed to shut me off, right? So this happens this happens now. I'm sitting here literally sweating bullets like oh my god If this goes another two points, I got I got a I got a dump which is probably what this was up here regardless Then then it starts to come back a little my phone's ringing risk manager's calling me. I'm getting on the phone I'm already pissed off like yeah, I know right because they're like You're okay because they want to make sure you're not on tilt right tilt means you're just not your normal self because You're emotional and you're getting your ass handed to you part of my language So I'm like on the phone with them getting mad and I'm like sitting here praying Like just please please come back to my where I got run over and I promise I promise god I promise I'll just get out. I won't be greedy and and hope it goes back up. I'll just get out That's what goes on all day every day trust me I hope you guys like this story The bet the bet side of that is when your risk manager doesn't stop you and your Stop loss is supposed to be 100 grand and you lose 800 grand. That's not that's the bad part of that story We've talked about that many times too. I don't want to get into that and get all frustrated but So the point is as well, we've talked about this might as well rant about that as as well so You should be with a broker That will stop you out for the day if you lose too much money Because it is easier said than done and any trader that's been in trading long enough knows exactly what i'm talking about It's easy to say before you start. Okay, man. If I lose $2,000 today. I am done There's no way i'm going to lose more than that and then you go down $2,000 And most traders are the most competitive people on the planet And you're like you feel like you've been violated and taken advantage of and most times you're not going to quit And then you get emotional and you see your thing then you keep trading you're down 2,000 Then you go down 4,000 and you're like well screw it now My account's you know only $7,000 mines will just let it ride and then you lose your entire account In one day trust me happens all the time So you need to find a broker that will shut you off a pre-determined stop limit For your for your account for that day It should you should not be losing more than five percent five to six percent of your trading account in a day That means for you guys that are Mathematically challenged if you are trading off a $10,000 account you should not be losing more than five to $600 in a day And I know you greedy you little greedy dudes out there are like well, that's ridiculous. I you know That's that's not enough That's fine. You may get away with this for a while. You may go down thousand two thousand then make it back Eventually you are going to get smoked and lose 50 80 90 percent of this amount in one day. Trust me Please trust me. Okay. This is what I'm telling you when I say that I lost eight hundred thousand dollars two different times Because my loss limits were not respected by me or my trading firm Right, I'd have another one point if I would have stopped at hundred thousand dollars I'd have another one point four million dollars to my name, right So take it from me find a broker that has a pre-determined stop where you just get shut off And you cannot trade until global X opens at five o'clock that night I know trust me. It sounds shitty. I'm part of my language But you've got to do it. You've got to respect those types of rules or you are not going to be around to trade All right, sorry when I'm my usual rant that stuff gets me going just because of my personal again Please this right tell my room every day to please learn from even when I'm trading live Like can I make a mistake? Learn from my mistakes. You don't need to go through that pain You know, I still some nights wake up in cold sweats of the money that I threw away because I didn't respect my loss limits at the time Right because I was a young I was a young big trader back then, right? It's like, oh, yeah, I know everything Yeah, I know everything I know how to drop 1.5 million dollars when all I got to do is get up and come back the next day and I'd be Totally another mental state, right? Take it from me Any questions Bruce? There's really nothing going on right now. That's why I'm ranting, you know, we're stuck in this Zone in gold So it means I actually got filled on the long side So I actually got to put this stop in now. Let's double check our atr 4.02 Yeah, it looks like I'm just trying to get through some of the questions here Um, we have some uh, something I haven't heard these stories Bruce. What's that? Yes 80 say how many times have you heard these same stories 80 times 100 times? I Literally this is the same thing But it's just I mean, I'm speaking of my experiences, right? It's like some I talk like there's new members on here because there are Right, so if you've heard it all before But then it's fine because all it's going to do is drill it into your head to do what I'm telling you to do So you don't have to go through the pain and anguish I've gone through Yeah 3.21 is the uh I mean, I think I think what I mean what always amazes me. I mean I'm kind of fascinated by it Just getting people like your rants. Um, but uh The um what what I find fascinating time and again is just how simple and straightforward You know your um And and the clarity uh of the strategies and and other other traders too I mean like it's so simple and they're looking at, you know, it's not rocket science at all You're thinking like there's got to be a lot more behind it and and there's not it's just you're looking at your levels And then now you're looking at order flow and and uh, you know the the auction To understand to get an edge at your level that you're already watching anyway All right, this is the thing you hit it on the head, right? Like there are so many people on here right now like this is this is garbage. This is too easy This is too simplistic. There's way more to it This is a perfect segue into the guy that I'm mentoring Um, we just just the other day and I know the type I've seen it for 20 plus years That in this is exactly why Trading is so hard for most people and really really intelligent people Right is because the really really intelligent people They need to have every single thing explained to them at all times and they just can't like accept things Right, so it's like every move in the market. They need to know why that happened right guys. It's just never going to happen, right? so you know, that's why guys like you know, like Doctors that retire and they try to get into trading, you know scientists thing like that Most of those guys fail because they They're almost too smart for their own good, right? They're they're just questioning everything and they don't trust things and so I was going through this mentoring session with sky the other day And he's he's he's a bright dude, right? And that's part of his problem when it comes to trading because when it comes to trading You have to shut off that that part of your brain where you're questioning every single thing, right? I'm like, listen he's questioning and that's fine to have questions But it's like then he just kept questioning and you can see he's like, well, what about this and what about that? It's like dude, just trust me on this. I've been doing this watching thousands of these for many years now Just watch it and trust it for now And then as you get better at this then you could put your own spin on things But you don't need to question every single thing that I'm showing you like well, I don't understand. Well, they're For example, right when you see like the ice the ice When this first came out Bruce remembers this well, there there's actually another software coming out there That was that was bad mouthing and saying that that doesn't work. That doesn't mean anything The ice means nothing You don't know what that what that firm is doing that big fund is doing there They could be hedging options. They could be getting out of position. You don't know that You're never going to know it doesn't matter what they're doing. There's two sides to the trade, right? So you try and understand what this is and why it's there It's useless. It's fruitless. You're wasting your time You just need to know it's there and you need to know the market reacts to those areas That's all you need to know It doesn't get much simpler than that the more you try to dissect it the worse you're going to do Just like having these traders that need all this certainty in their trading, right? Retrading in the zone by mark douglas. He talks about this at length. This is all he talks about Traders need certainty. So they think the more crap they throw in their tray, you know on their charts a bologna bands MACD RSI blah blah blah blah blah blah blah, right? And then you go to put on a trailer. Wait a second Well, this is telling me bearish. This is telling me bullish And when you finally can't pull the trigger then it starts to go your way You're like, well, this this this is a bearish line here. So I should get out, right? So it's like guys I'm telling you make it as simple stupid as you possibly can and you will see Immediate results, right? And you can't get more simple stupid than just watching buy-in watching the market react having rules and following your rules That's it. That's what trading is the more you try to interpret things the worse you're going to do Again, please trust me, please Next question That was one of my favorite rants. So far That one was on fire today. Yeah. Yeah, that was that was a good one. Um So, um, let's see here, uh, more questions. Um, yeah Exactly. I mean people, uh, you know, um You know confirming or, you know, agreeing with you here, um, and I'm not the wrong. So that That's right. Well, first we know that. Um, and then and then, uh, uh, you know, uh One of the things that we get in here with scott, um, is being able to peek over his shoulder. Uh, so, uh, you know Scott you you when why I bring this up is that you had mentioned that, um, You know, and you know, trust me or you know, I'm telling you or you know Is based on your your experience here. That's what you know, uh, so you you're getting that experience here, uh by watching in attending the webinars so In your trading room and you you can, um, uh, you know Learn from that, uh and understand, you know, um a perspective here If that perspective works with you, then great implement some of those things likely is going to be, you know, uh, some of your own Insights and what works for that individual trader. Uh, that's a really important element here, but uh, You know, right being able to see that being said that being said, I mean to interrupt you Yes It's your perspective and traders will come into the room and they'll be like they'll cancel and they're like Well, it just doesn't work for me. Well, what what doesn't work for you Not I'm not saying you have to trade exactly like I'm trading but there is no again. This is a this is the science This is not there's no like oh, I don't I don't think that's important Like that that's that's the that's that's what upsets me the most like I'm not saying You have to trade exactly like I do with atr and everything else But there is no disputing this so you can't just pretend this doesn't matter because it's the number one thing that matters Real-time volume is what makes the market. That's what makes the market move So for anybody, I don't care what system you have and that's fine You can implement this if you implement this stuff with your system, it's just going to be better But don't pretend like this this isn't for you. Well, if it's not for you then having all the information is not for you Yeah, exactly. Sorry. Exactly. Well, that was another excellent rant there So, uh, yeah, no the other thing too before I forget So the the guy I was talking about needed to know everything about why is this why is this and he is new So, you know, I'll give him the benefit of the doubt but when we're talking about the setups and stuff Just accepted until you watch if you're right So my my my analogy I gave him is like when I walk into a room a dark room And I think this isn't trading in the zone too and I turn on the light Do I need to know do I need to take that light bulb and and dissect what's inside and why that light went on? No, I want to I get what I want I turn on I flip the switch and the light goes on and I can see That's all I need. That's all I need to know. I don't need to know how the light works Right. I'm so I'm not saying you don't want to understand why this works but Don't you don't need to be like understanding every single pop in the market and blah blah blah and why are they doing this I well, you don't know what they're doing. They could be heading blah blah You don't need to know that stuff guys. You just need to know that guys and girls You need to know the area and that the market reacts to that's it Just like you don't need to know how a light works to have the benefit of light How's that? Was I going to rent too? Yeah, yeah, you're you're on fire today So, uh, uh, well explained. I mean I I um My my overall point was that um Being I think for a lot of people seeing a professional trader trade Um, we'll prove it to them. So now they don't have to kind of like like, you know What's who's the wizard behind the curtain? Um And and that's the benefit of these webinars and and like you said your trading room. So, um, Let me put the uh, your trading room, etc information into the chat here Right in the tube right and then jump in jump in from, you know indicator to indicator and this one there And the guy that I was mentoring last week he's like He was showing me what he looks at. He's like well today I I brought this up and I was I was trading off of this I'm like, what do you mean today? Like you don't usually do it now I just figured I'd see if it you know this worked. I just saw this indicator like this I mean, it's perfect because Psyche almost doesn't know better and this is why traders fail. Like you keep well I'm gonna put this indicator on this one. This this one's gonna make me a better trader now Let's put one more on and then before you know, you got some indicators on your chart, right? So Yeah All right, so literally nothing's going on guys. So that's why you're getting the full Full wrath today If we can get an ATR below here, here's another sweep slash snake white snake So this is not threshold, right? So there is I hate to even say this because I don't want to confuse people I don't want people starting to trade less value less value for the for the setups But you could say, you know one it's really died down, right? We haven't seen any sizeable icebergs This is close to 600 with a sweep and it is 1024 So I'm going to show you something else too. This will be a whole nother rant might as well because something's going on It is this time of day where you can say, okay, this time of day slows down. I'm going to use 600 is my my that's fine I highly recommend against it. I mean, I highly recommend you don't do that right now until you understand what you're doing Because it still may not matter. I I don't do it. I still look for 700, but I'm just giving you an example So speaking of that, let me bring up this show you guys another eye opener for my mistakes All right, this is um You guys can get discounts to this on my website There's a bunch of discounts on my website click on the banners everything on there you get a discount for Except for like rhythmic I think there's another here's another mistake that you want to learn from so this is This is my so I switched to this in early december. This thing is like I used to use trader to you This is like trader viewed on steroids times of a million, right? So this thing is incredible So actually, let's see my my biggest weakness is you want to go through because it's harder for me Because I'm doing the trade rooms and I'm talking non-stop like today and you know You get to the end of the day and then you got to go in and and and you know Put in now all your charts for your trades, but I've done it a couple of times, but A few times for bigger trades. I'm gonna get better at this, but I want to show you guys like this was uh I just want to give you an idea like what this thing will show you right? So it shows you your entries your exits, obviously, but then it shows you your the chart Should yes, you see you can see the entries exits there and then That I put yes, so I put then you can go in you put what you saw right? So this is the same stuff you guys are watching now. So I saw and I don't remember what this was obviously it was a month ago Um, oh, yeah, so this is remember I told you there are instances where I will get in the trade in the middle of the zone This was one of them again I highly recommend you don't do this till you understand what you're doing But and you can see the black mamba here six thousand sweeps That was part of this stop run and then there was by ice here, too This is the rare sixth setup. It's like unicorn the we call step brothers in the room the room actually named it It's the sixth setup that I've added. Anyway We got atr we retested but when we retested the zone I knew there was enough volume here with my buddy step brothers setup This was and I'll show you here in a second yellow lug and vwap There was enough confluent where I got along here and then I entered traditionally as my 80 percent of an atr And it turned and I held it and then an opposing setup came in a stop run dumb and dumber And then I got out want to fail out of there and I made made the profit, right? So S&P ice for yes 700 for contracts. I'll come back to see what's going on here All right, so once again, this is like again. I have this on recent mode. So it's If the spikes are close right next to each other and it's all in the same area You can just add them up as one iceberg, right? Just be careful like if you see 300 right here and then it goes up here and then you see 400 up here Well, that's not a that's not a same area. You can see this is one house too, right? Look at this iceberg here. You can see the line That means it's one house getting filled. I'm going to make this a different color. So don't get confused with the zone above Even though this is you always want to default to the most recent zone right I usually use dark blue for my double whammy setup and the double whammy is just stop runs Which is the dumb money into the smart money the the houses of the big money That's a double whammy. So it'd be like a stop. I'll buy a cell stop run into buy ice Right, so that's what I usually use that color for but we'll just do it now. So it's not the same color as this zone up here Um All right, so that's step one I'm pretty sure we're still on that illa lug or real close to it I'll come back to this stuff here in a second So we're below the illa lug and then you see this is baby lug right here So this is gonna be it, you know, she calls him target. So you can if you were short this whole time You could You know, again, I got out of the blue lugs I don't mess around I wait for new lugs because trust me There's always going to be another setup where you can almost always you can get back in the chain Right. I just don't mess around hoping that we build new lugs. And that's why I got out here, right? Um So we are below this lug. So I guess I could go 8.69 So aggressive is 80 8.69 It's a 0.95 so seven points out of here Could be aggressive Oh, the other thing we want to watch too Again, I don't want to be throwing a bunch of stuff at you because I just told you guys not to have 45 indicators But this is the stuff that you want to pay attention to right? This is spot gamma. This is his new his new hero So it's available on book map too, but I just have too much stuff coming I have too many contracts and I'm watching when I put out on the nbo or the hero on my On my book map it freezes it up So he's now has a standalone product on his website. So you can see here This is showing you the market And this is real time here's the markets in the black. This is the one thing he needs to fix I need to email him like I'm sure he already knows but you can't like scroll this down Like it like just goes just goes off the chart. It's like, okay. Where's that? Right? So but you can see here What's going on here? So you can see These are the call actually there's a puts So actually they're not even really buying calls that way. Let's see Well, the the the total line is what is the best way to look at it and you can see there's definitely a divergence Right. So when you get divergent, and this is the mistake I even see in the book there's a hero room in the book map in the discord server that you guys are into And I see guys complaining all the time is this thing doesn't work. It's not about Guys, this is not a red light green light Thing that you use like like the volume setups. This is something Kind of like bigger picture stuff, right? So you just want to keep an eye on this and know Okay, there's a big divergence. They're buying they're buying calls selling puts And there's a huge divergence. So when you get to You know important areas either spot gamma areas, let's see which one Let's see if there's one down here Right. So say we sweep down it doesn't mean this can't keep going right? So this is my point if you were to trade off a divergence right away where you looked at this thing This is why traders are complaining because they don't know what they're doing, right? But I don't claim to be an expert at this either, but I just know this isn't red light green light So what what's to say you didn't buy this divergence when we're like right here, right? You would have been killed it went down another 30 points It doesn't mean you just hop in along because this is diverging But when you get to important areas and he even says this if you watch his webinars he put out two last week When you get down to important spot gamma levels where there's high concentrations of options Those are the areas where you're probably so if that that put call line keeps going up and this market keeps going down Then we hit this area that's almost a guarantee Especially if you get a volume setup that we're going to bounce off of there, right? So that's how you want to keep an eye on that do not think it's a red light green light because it's not I just wanted to show that to Just know there's a divergence. So if we swipe down You can um, you know be ready to the pounce down here in here. What what else do you see down here? Which way do you think we're going? We talked about this earlier. Let's see um black hole No liquidity liquidity liquidity We do this every webinar and we always make bets that we're getting liquidity and we do it almost every time Where do you think we're going? Again, this is the big money that's been in there forever if they've been in there forever. What does that tell you? What's the number one thing that tells you if they've been in here forever That they're willing to get filled right if something comes out the Putin sets off a Nuclear bomb we're going to go right through this right? That tells you they're willing to get filled right So that this is not People putting in orders trying to scare the market away This is guys that want to get filled meaning This is where we're going because this is the big money and they will get the market to go down to these prices Trust me. So just just like we looked at the bigger picture structure This is the same stuff. You look at the big. We already know it's bearish. We look at this Well, that's bearish too, right what isn't bearish is that put call ratio So you just doesn't mean you just get long here It doesn't mean you don't take shorts But just know if we spike down here and we fill this we fill this we fill this And that thing is still spiking the other way that we have that divergence in the put call And we're at a spot gamma level you can bet here You know what we're probably going to do a bungee jump and spike right back up, right? So this is just information So that's why I'm actually okay with shorting this I know there's a put call ratio divergence, but We're going to hit this equity and it could happen right now So speaking of that, let's get our order in 8.4 Is the ATR 3 quarter points I can short this So that's seven and a quarter Pretty much seven points is That's where I will short that So next I got to make sure I have the right size on right We were just talking about this one you want to have a broker that will stop you out If you're on till two you cannot be trading bigger than your then your account size will allow So for me to put this trade on I know the ATR 6.72 So let's just say seven points So seven points and seven points meaning if I get in this trade the way I trade these If I get filled on this my stop is going to go seven points above this zone, right? 80% ATR so that right there is 14 points and then you have the size of the zone That's another five points that I'm risking 19 roughly 19 points on this trade So then what do I do I go to my risk calculator? This is all available to members of my room. It's one of the perks of being my room You go to 19 points you can find this on the I'm pretty sure you can find these on the Internet too, but Right there from my account size, right? And if you have micros and you have a $13,000 account It's the same you don't even have to change this right you just It's just a tenth of the size right so instead of because micros are a tenth of the size So instead of putting on a full two lot of the mini s&p you can put on two micros risking 19 points. All right, so right there There's a two lot that I can put on and that's risking One and a half one and a half percent of my account size on a trade You should never be risking Again more than one and a half or two percent of your account size on a trade And you should not be risking more than five to six percent of your total account in a day Period and the story if you think you can roll the dice you may get away with it for a while It will burn you eventually Take it from the $800,000 man. All right, so that's a two lot that I will short aggressively All right quickly because I'm running out of gas here What I was going to show you here on this being all stuff So I got in that aggressively This is what I saw when we pull back to that zone that I just showed you guys This is what I saw where I was aggressive actually was dba remember Yeah, whatever did I not tell you that crew was going to come back and go fill out liquidity It got front run the first time again I would have been out of this trade if we I was watching here When I got when it came right here right And that all goes front ran I would have been the minute it started running away I would have spread this out myself. I would have been out but anyway now here we go Now it's going to come down and fill it out. That's the game That is the game. That was a sweet smoke smoking. Um, so anyway when we pull back to this It was confluent with yellow log Dba daily dba stands for daily bail here, which is just one standard deviation from b-wap I was willing to take that trade right in the middle of his own I don't recommend you do that till you figure out what you're doing And then we got that and then up here was the dumb and dumber and I got out of the trade and made You know 30 30 points on the trade that was on my trade room too, I believe All right, so what I wanted to show you here most importantly This is my p&l Again since the beginning of December since I switched to this this program Which I highly recommend this thing is awesome This is my trade these are my trades So you can see here and here's another thing to eye opening right my trades that I put put on this On the book map webinars and room trades and everything else 44 1 percentage you would think I would be getting killed not so much. This is pre commission This is after commission right but so this shows you you can be less than a 50 percent trader and make a living trading Right and I'm not even trading big. This is this is trading like especially in this volatility I have like a two lot on an es most of the time right or one lot of nasa So it's not like I'm trading, you know guys can look at this like well, you're trading 50 lot I'm trading two lots right so that shows you you can make that trading that trading that or that right that should be refreshing and Motivational for all you guys Um, so see Bruce always likes these stats. What's the here's your whole time Bruce saying love Right. Yeah. Yeah. This is excellent. It's so good to see like, you know How you are holding I mean like people a lot of people come into these these webinars are come into like Reading order flow with expectations like oh, yeah, but you know scalping, you know several positions a day or whatever And then here here's you know your results Average holding time two hours average lot loser holding time less than an hour Right. So, you know really it it debunks these with those theories with with data So this is what I wanted to show you guys to and This is most important So when you when you use this thing you can really start to dive into what what's going on Look look at this So this is actually very embarrassing for me to show because when I was a big scalper when I was making millions of dollars Every after I got literally it handed to me for so many days in a row or you know for over months period And I finally said, you know what I am not trading when that clock hits 10 o'clock 10 to 10 15 Central up until 12 31 o'clock. I am not trading because that's when even back then that's even before the elbows were in full force That's when guys start playing their games, right or the elbows would play games and even more so now So when you get into these low volume periods and you can even see it on here And this is actually even relative volume talk about this in the room every day, too Look at the volume that's going on through here right now This is relative volume and it's and it's bad volume usually dies down This is relative volume meaning at this time period. This is terrible for this time period What you can look at in a different view. This just shows you How bad this volume really is right? So it's like we're not even at this This is taking so this relative volume chart on thicker swing is showing you less 60 Periods five minute periods. So it's always going to obviously spike at the open because it's taken overnight But you can see how low we are Right, so this is why this is when algos go ape shit as my grandpa As my grandpa used to say they go crazy, right? And this is when they take all your money. So this is why You can see here. Look at my day. This is over almost four months now, right? Look at this PNL from and I again, I already know this. This is why this is so embarrassing. I should not be trading at this time of day 9 10 o'clock central $46,000 $47,000 of losing trades 10 o'clock central 11 o'clock central 20 70 thousand dollar plus of P&L because I am trading at this time of day and then hey look look when the big one Look when the guys get back from from lunch in new york and the big money comes in, right? Look at that. This is this is after hours too, but The point is when you start to track your stuff, you can be like, you know what? Scott was right or you're you're you're poor time. Maybe you might not trade well on the open Say, you know what? I'm not going to trade in the open once you get a big enough sample size You can really start to see this stuff. So this PNL take out 70 grand It'd be over over a hundred thousand dollars trading two lots in three months four months, right like Guys, this is trading this is if you want to be a professional into this for a living This is the stuff that you need to pay attention to add add 70 grand of that since 12 6 That's a really good return if I just got out of my seat and got the hell out of my office and just left for those two hours So and again, I'm trading two lots So that that was the whole point of that for you guys that open your eyes get this you can go on my website You can discuss to it, but you have to have something like this if you're trading this this And you need to have a stop limit with your broker Before anything else before you understand one bit of this stuff That's the stuff you have to have in place Then you can start to you know really hone in on your trading But if you don't have that stuff in place, you're never going to make it anyway period Even as much as I know and how well these zones work if I did not have a stop limit for the day You know and and a stop limit For my trades as far as how much I'm willing to risk if I'm putting on like a 20 lot in this instance instead of a 2 lot I wouldn't be doing well either. So it's going to catch up to you. Eventually trust me Any questions on that first? We're about to for a headline here too, aren't we? I think we're all only about all the day caught up on questions All right, well, I hope that's hitting home for some of you guys because I know Majority of you that are not making money. You're making those mistakes. You eliminate that stuff alone. You're going to start Making money Right. So actually gold here Here we go deadlines and going for a while. So I'm going to get off of this pretty soon, but let me uh Just take a quick look. I think we're above the old looking gold if I remember correctly Yep So We did get an atr below here. I believe atr is 40 text. You see that just move the decimal place 40 Bottom of the zone was at 2009 90 64 Yep, so that was almost 60 ticks 50 ticks So we're definitely at an atr. So now I will treat we are above the yellow log But I will take shorts as long as we get a full atr retest failure And I am full aware that this is we already talked about this. This is bullish longer term. I'm a day trader You could say This so this is the point of having playbooks and having Scenarios where you just won't put on like right here. Yeah, the volume's saying short But we just talked about how we broke out of this balance. We put in a buying tail This is not the best short area You know I I'll do it, but I don't have a high expectation So you could just say you know what I'm they I'm not taking shorts unless we do a failed breakout And get to the divide and that'll take short But right now I'm just looking for longs and that's fine That's probably doing better my winning percentage would be way better if I did stuff like that Right, but we're I'm in my room and I want to show these setups and so on and so forth It's not an excuse But I'm just saying you can make your win percentage way better than that You're not going to get 70 80 90% trading as a click trader without You know full time scalping on an algo and you're not going to be able to scalp clicking the mouse Trust me. Please trust me because that's how if you could do it I'd be doing it right so Point as your winning percentage, you know If I got up to 60% that P now would be like off the charts, right? And I know I can get at least over 50% by just not taking certain trades And this would be one of them or I'm not taking the short because what I just showed you guys on the Bigger picture stuff that would be a well advised thing to do where you say, you know what gold looks very bullish Longer term we're above the yellow lug. I'm not taking shorts So that's I'm only going to take a long setup. This would not qualify. So you got to wait for something No And that's trading my friends Any other questions? I'm out of gas a lot of ranting today a lot of lessons Hopefully you guys learned something not a ton of trading, but you know, it is what it is. It's there. It's there if it's not It's not Yeah, no long beans. No other questions scott and Yep, just Need to say here since we're on youtube now And broadcasting on youtube that yeah, please subscribe to the channel Hit the subscription And also if you like the webinar, you know, click on the like button there. It's very helpful for us. So Yeah, other than that, the people have your contact information as well as the details on some of your courses, etc And we do this every thursday. So we'll see you next thursday scott Yep, cool. Thanks. Hope you guys learned again. Please learn from my mistakes You don't need to go through 20 years of learning this stuff getting your head smashed against the wall Learn from my mistakes and don't make them. Right? It's called What are they called modeling model me model my Don't model my mistakes. Just learn from those. What I'm saying. All right. That's it for me I'll see you guys next thursday Every other weekend. Excellent. Thank you scott experts