 Good morning traders and welcome to the bookmap pro trader webinar series today. We have Scott Balsini I'm Bruce here at bookmap and I'll host the webinar for Scott And we'll get started in just a minute. You guys know who Scott is he he's here every week. So In the advanced webinars and he goes through live trading during this webinar. So You guys if you're not familiar with Scott, he's got quite a unique background I traded Really heavy volume 10% of the S&P E-mini futures back between years of 2002 and 2005 and He is we're very lucky to have him Expert scalper, but now he's trading order flow in a different way I have his contact information here if you want to reach out. He does offer education and mentorship and Oops that took us to the site And yeah, we so we can I'll paste these into the room so that you guys can Visit those links if you want they'll be they'll be live and active Gotta go through the disclosures and then also want to share with you some information about our sale That we have for the next couple of days General disclosure all bookmap 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 substantial risk of loss and is not suitable for all investors and Investor could potentially lose all or more than in 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 our black Friday sale Well, it continues until tomorrow So if you guys are interested Very simply go to bookmap.com Click on the image here, and that'll take you to the landing page slash black Friday You get 50% off of bookmap for the first month and It's also if you're a current user of like digital plus or global and you want to upgrade To to global plus this will include it as well. So the goal here was to offer Traders the ability to try bookmap For a very very discounted rate. So that was our black Friday goal And this is your opportunity. So, you know, it's 50% off for the first month. Give it a shot. See if you like it come into the education here and Learn and follow along and You know see if this helps your trading simple as that and If you already are a bookmap user and you want to try global plus Then this is for you guys to to try it out for the first month get it get it half off And see if you like it then if you don't go back to your your regular global version At least you gave it a shot. That's what our goal is. So Let's turn it over to Scott Scott are you in here? Yep, yeah, and sorry guys on on discord We've been doing it in the These webinars in the special events room. We decided to do it. I decided to do it For today and for tomorrow in the advanced webinars where we typically are for this webinar So what so I didn't want to confuse Scott the scouts like where are you guys? So so that that was the main reason to be honest And Jay Trader so they know where to go and and keep it simple. All right Go ahead Scott. We're all set to go Cool. Um, you see my hashtag screen here. Yes All right, so watching this closely there is a So it's kind of what I was waiting to see here, so this is an important zone obviously after yesterday's ridiculous rally This is an important area. I talk about all the time You know trading these important zones and you can see here. This was one of the Main areas of charting that I draw my zones We had a selling tail on huge directional conviction out of here that led to this entire down move This and this is actually retested it here and then we're back into the zone and we're struggling here first and foremost and There was a bunch of cell ice There was some cell ice here at the open like waves of it you can see here 150 150 Another 230 see looking at over 500 there And then the numbers just came out and stop runs and now you get some more set up So I'm gonna delete this zone and I'm gonna draw the most foreign zone and I'm looking to Get short here based on that zone. So that's my thesis, right? But I'm gonna let these volume events These are the keys. I want to I want these volume events to Confirm my thesis, right? So every day We go over in my trade room We look at all these different markets and we come up what we think is happening And then we look for volume events in that direction and that just helps No With your confidence in the trades, but you got to be you got to be ready to pivot if something You know if something doesn't happen when you think it's gonna happen But the whole idea is if you get a day where Your thesis is correct and these volume setups are in the direction of your thesis Then you can really go after it You know as far as trading a little bigger, right? And we talk about all the time risk parameters I don't really want to go down that rabbit hole today and get all upset, but That's where traders usually blow their accounts but you know you want to You you want to be when you have when you have something that lines up either Confluence or Confluence with your thesis with the volume events you can trade bigger You never want to be risking more than five five to six percent of your account size And an entire day And the rule of thumb is usually around one and a half to two percent per trade But if you see a trade that is just exceptional in an area with everything lining up Like in with your thesis volume events, then you can trade, you know two to three times The normal size, but you just got you got to know. Hey, this is your shot If you lose you got to be you're pretty close to done for the day, right? Or you have one more ball of so on and so forth So you do have those situations where you do want to you know, take a shot if you're right So you can see here. There's a lot going on in this area We had some we had the stop runs and then we had some bias here and more bias here I'm going to just try to incorporate all of this So, you know, this is a volume event. So this is the driver of my trading It should be the driver of anybody's trading because you want to see what's happening in real time You know, which way the volume is is direct real time volume drives price, right? They have so many people that trade off price and you know all these indicators and Yeah price indicators and price is great, but it doesn't matter if the real-time volume isn't agreeing with your areas You see it now this bias is starting to load up here So like I talk all the time. Yeah, this is you know, the big money Runs the show in here, but they're not always right and there's other entities in here that can be fighting them too, right? So yeah, the odds of Just clear this up. We'll draw a new one based on this new step You know, yeah, you do have the odds in your favor views to say you say you had a You can see this bias still coming in So say you had an extreme long bias right here, right? And you're like, okay now I see this big money coming in behind me. Let's go time, right? They're not always right. There's actually I actually have it set up called broken ice. So when they're wrong, you know It usually moves in pretty Quick direction the other way, but my point being is yes You it's good to be on the side of these guys, but they're not always right But if this is starting lineup with you with your thesis, then it's like, okay You know, you could be just jumping in right here and say I'm gonna play this but I personally am my thesis right now is short We haven't got a determination here. Look at all this bias coming in. You have 500. So you're looking at 500 Another hundred you got almost a thousand bias here over a thousand bias. It's still coming in So this is gonna be very interesting. This is what I want to see, right? I want to see Committed traders in an area because when it moves out of here, that's what that's when you get your bigger moves, right? And this is, you know, instead of just playing the algo back and forth nonsense. This is this is significance, right? So let's draw the zone and I'm gonna show you another thing that we're doing in my room this week I might carry in the next week as far as I'm just taking trades in a certain direction based on this other Thing that I look at as long as it lines up with everything else that I'm talking about which will go over As you can see or someone's buying this and it's not real really agreeing with them right now, so You can see their hammer in these these stocks as well These are the you know the highest weighted stocks and the indices that drive the futures So let's draw that All right, so that's basically your zone. So all I did there I always get all these questions about drawing zones. It's very simple Which you understand what you're doing here, right? So you want to get your cross here going? And then you want to judge Just literally I take the bubbles off because the bubbles kind of throw off you want to have this last price line And we've added very recently it's always been here But I took it off because it was annoying when I first started trading with book map and then I realized how important it is So again, you want to right-click on your Your volume dots configure visible components and then pick last price That's actually the last trigger price. So when you're drawing your zones You want to bring this down and then I would you draw Exact prices instead of using the bubbles that I was using the edges of the bubbles, which is not correct It's like like this is not correct. So you want to zoom in too? So I want to move this up a pad So I'm incorporating all all this action that just happened in this position trade, right? We have two different trades that I'm that I do and teach in my trade room this one I will incorporate all of this into one big zone, right? So you had three hundred one sixty another five hundred and that stretched all the way from here And you can see the spike in the sub chart Price went all the way down here and was still coming in and basically ended Right So you can see I have this little too low right? So I got to move this up a bit And your own So what we're doing as well I We have a spreadsheet we're using now in my room to make this more exact as far as entries exits We're using it for both trading strategies, but it can be used for this position training too So the top of this zone is twelve thousand seventy three fifty so we go to The zone in there 4375 So this is a quite a large zone My ATR ATR is the average to range for five minutes that helps me judge the current volatility in the market 2956 and I have a Distinct exact system that I use to determine my entries and exits so they go down here to the position training strategy So I'm gonna get short aggressively It's only I can go short at 12,011 quarter and I could put on 1.58 and Q contracts while round up to contracts that's risking 2% of my account size right? This is very very important again members of my trade room get access to the spreadsheet where you want to really respect your You have to respect your account size because if not you're going to blow out of your account Eventually, you might get lucky for a while, but it will catch up with you So that means I could put on basically two that's That's just me rounding up or I could put on 16 micros right, but I'm not training micros on this account. So just put on two all right, so That's step one draw on the zone putting in the values step two and then I go and I'm looking at bigger picture here We already looked at this area already know this is an area this market could fail and it's already failing right? You'd be amazed at how when you know these areas when the market returns to them How often I mean this is literally exact to the top of this So what I should have done there is entered this aggressively because in my zones I do enter aggressively I Didn't do that and I'm missing this trade, but now we have a new volume set up so I can actually get Short on this aggressively if I want meaning aggressively One ATR out of here 110% of an ATR. We'll go over that here shortly. Let's draw this I'm gonna look too much time describing that I should have just jumped in the straight This was going to happen. This was my thesis Yeah, when you have a thesis, you know, I'm gonna be screwing around you want to you want to get into the trade So, I mean, they'll be there'll be more opportunities. This market has been so big And I mean it being short here is probably gonna be like pulling teeth Even if it works out. So, you know, I'm not worried about I'm not gonna be chasing this market It's what I'm saying. I'll let this thing come back so you can see let's make sure that's correct It's right So that's your stop run Logs by the time I get all this done. I'm missing probably a hundred point trade here Yeah, so late to the party here. So that this was another reason why I should have been an aggressive on those that set up up here These are the Ludwig levels. I use these extensively in my trading. These are very very very powerful Especially when you can put the volume setups on top of these major major Reflection points. So the red is resistance blue support. We had everything going on up there. That was an important zone I basically just dropped the ball. I should have been short the minute this thing dropped out of this zone So it shows me on my spreadsheet. Like I said, I should have been in short at 12 11 I should have been short right there and I missed it. So Now I have to make a decision here Because we are like I just said these these Ludwig levels are extremely powerful, right? So do I want to be going short now? I was okay going short up here But now that there's a new setup here. Do I want to be going short right and then this luck? The answer is unless the relative volume is extremely heavy, which would be this I'm not gonna do it. I'll wait right so you can see I want to see relative volume that is At least two times normal for this five-minute period. So this move down was close But as we get to this lug if I don't start seeing yellow bars, I'm not going to short into that lug You will save yourself a lot of money But just you know waiting for new lugs to be built and not trying to fight that it's just amazing Whatever her components are for her Ludwig levels They are respected universally by these Algos. It's it's quite amazing I could bring up hundreds of examples like basically recently these chart of these markets just bouncing off of these major lugs So the point is I respect them enough or I'm not going to short on this most recent setup So what I'm hoping happens here, which was probably gonna happen And then the other reason I don't want to short to is because you can see this is VWAP So you got to always understand what's going on with these Algos, right? Because when the big money is not in here, which is 80 80 plus percent of the time It's not big money is not playing in here. The Algos were on the show, right? So there's a lot of things going against going short right here One the Ludwig levels the Algos So you have an extreme standard deviation you have right? So this is VWAP. This is the one standard deviation Called the daily value area. This is one and a half This is two we actually got down to the two status don't have a tron But that's over two standard deviations away from VWAP It's when you get these reversion of the mean Algos that try to push this back. So The point is I don't want to be going short right here It doesn't mean it can't go lower but my odds of being successful in everything we just talked about versus that happening The short term are against me. So I'm going to wait now in this trade I'll wait for that. I'll move back up to short this thing on a new setup What are these market profile composites? Don't want to So this current one here is from back in September That we ripped right through yesterday, so you can see here Yesterday's trade I actually have to merge these three days. So this will be a good example of merging, right? So we had these are Some more cell ice in here. So this is these are single days, right? So When the vibe when the value areas overlap each other, then I will merge them by more than 50 percent, right? This obviously is not merged or this one is not overlapping these two days But this third day, which was yesterday's ridiculousness It goes both of these so I'm going to make this one composite, right? So I won't merge this with the prior day and then this with the day before that you have a New composite Right. I know there's you know market profile enthusiasts out there probably listening that Love to like get subjective with these and like they cut off the tail and they I Am not a fan of that. I want I want the basic look of what the majority of traders are seeing I don't want to be messing around with tails and getting rid of them and so on and so forth So I'm leaving this thing exactly like it is once I merged it This is my value area and what you can see here. This is actually what you can do here because this was a composite This was this was a single day and then you had another composite So what I'll do here is I can merge all three of these actually this was another composite too It was just that it was the holiday, but since these two overlap I can merge all three of these and have a monster composite So I'm gonna do that Let's emerge this Yeah, it looks right. So what I'm gonna do here is cut this one off Oops, but this is this is the main one here Let's make this bigger So this is a very significant Profile composite So meaning if this market does pull back one you want to watch this prior one for a bounce But this will be an important area where this market will probably bounce right and then let's look at bigger picture stuff I mean on the charting it's 11 750 so that would be through this zone, but that would be So you can see what this is right? So this is a balance area So the other things that I very important aspects of understanding what's going on big picture, right? So this is two-sided trade over Multiple weeks right it's breaking out. So so many times when a market breaks out of balance It will do the juke pull back either the top of balance then go or the high volume node then go, right? It's uncanny like it literally you have have these algos that you know stuff That's so obvious like I could bring my 11 year old daughter in here and she can tell me what's going on here, right? So it's like you see this break out Everyone wants to jump in and then it does a screw you move screws all the week longs and then it'll go Right. So it doesn't happen all the time. Sometimes it will just keep going But the point is what's happening now is it's failed and it's coming back into this balance area So this could be an area it stops or more likely the high volume node. What's that high volume node high volume? No, that's 11 750 right in the middle of that puppy and that would be the top of this composite So point is if you just wait for important areas and then get your time setups will be a highly highly successful trader The problem is Most traders can't be patient and wait for these things, right? That's why you want to be watching multiple markets because you're not forcing trades Then you're just waiting so you can say here like I like what Scott just pointed out or you already saw it yourself You said I'm not trading until this thing gets down 11 750 And I'm willing to buy this thing as long as I get a bulge volume set up, right? I don't want to mess around in here in the middle of nowhere I want to wait for this area and then you just put an alert on your chart We keep when it gets there you see if there's a vine set up and you jump in and there you go And you're probably gonna get a monster move back out of here And if that doesn't happen and this accepts in here then this thing's in trouble, right? So this these are called inflection points So you want to wait for these areas to be trading like that's a good one This is in the middle of nowhere right here right as far as market profiles concerned. So Again if you can be patient and just wait for those areas you will be highly successful if you add the You know the real-time volume into your trading You can still obviously trade those areas, but it's just way it's confirmed when you get the volume events in your favor Speaking of volume events here is another one here So another thing we're doing in the room. We're using this called the Algo guy. You guys have seen this I call it Algo guy. It's not called. Okay. It's an exponential moving average ribbons Right so the blue is the short term the red is the long term So so many these algas there's tons of algas that are based on this on this aspect as well so many times when you get the shorter term cross over the red that leads into a Trending type move. So what I'm doing for this week I'm gonna do it for next week too as I'm only taking trades in the direction of Algo guy meaning if I so so right now if I got a long setup I would not take it because I'm fighting you want to get as many things in your favor as possible, right? We know algos are 80 plus percent of the market So it would behoove you to you know, let everything line up and then take your trade So right now if I get a long setup, I don't want to take that because this isn't going against me These hours are going against me. Does it mean it can't rip up in this crossback over? No, but Trading is all about odds. It's about probabilities Probability of this point back to this red and then continuing lower are much much greater than it ripping up through all these These are just individual moving averages, right longer term and shorter term The odds of that ripping through there and moving back up are a lot less likely than it going into this red and then turning back down Right, so I'm only focusing on trades Right now on the short side, which again that you're seeing when I'm talking about as far as everything coming together Right. I already had this short thesis in that zone at the red log again I missed that trade up here, but we had the red log you had the cross you had the volume events that turn Embarrassed you get everything in line. It's time to fire right so What I'm hoping for here because we're still close to that blue lug I'm going to pull back into here if we get a setup I will jump in aggressively up there and that would what I'm hoping here is we get up at least to the yellow directional lug here right around 12,034 that's where I should have been short from the beginning anyway right around 12,011 so I'm hoping we can get a pop here and the odds of that happening are very good because our only talked about So we come up here if I get a short setup. I know I'll go guys in my favor I know this thing's bearish that would be the I mean short term. It's not bearish overall obviously That would be the back to the top of this area. I have a lot of stuff in my favor yellow lug VWAP will probably be down here by the time it gets over here So I have the all of you at my profile composite red red ribbon Guy and then the volume setup. I'll jump in aggressively. So that's how I trade You know that may not pull back in there But you know say this just keeps ripping down well Then I'm going to wait for some new lugs new Ludwig levels and I'll get in again go to her website If you want to try actually got the 3D trial say it's not on the bookmark webinar, and she's got special parts Any questions on any of that Bruce Concentration on NASDAQ today so far nothing to fire off any yes, by the way, so that's what I haven't Actually it has that was right after the number Uh So, I mean you're using the volume profile software there is Sierra charts, right? Yes, Sierra chart is what I use for the product profile for my lugs and for the relative volume It's pretty cheap. It's cheap for a reason because you have to do everything yourself And I mean everything so like when you first get it you have to like build your own charts I mean, it's it's very labor-intensive But um, you know, that's why it's cheaper So if you want to like plug and play type of system, then you know do a ninja trader or or you know Things like that where you don't have to do everything yourself But if you're looking to save some funds, then you know, Sierra chart is good. It's uh, it works great You just you have to do everything yourself is the issue if you're not technologically Savvy then it might be a problem. Yeah No, I other than that. I mean the Yeah, uh, Luke about the Ludwig level is just um, you know go to Scott's website And we're not going to answer any questions on that. Um And the ribbon thing so we're getting questions on everything except book map here And guys, I mean, I'm just showing what it is, right? It's a book map webinar. Um, so Uh, I it's called out. I don't know what it's called. Uh trading ribbons or something like that. Um Ribbon indicator or something like this called exponential moving average ribbon. Just google it. There you go See it come on my room. So my room is speaking to that I think you guys are you're doing a little cyber special someone asked me if I put one up if you go to my, um I don't remember what the code is. So this last I offered this through 12 five What's that next Monday? Um, so Go there in a second. So just go to my website go to the trade room People like email me not understanding go to here and then for the monthly just pick the monthly and put in that code Uh cyber monday and you get 30 off for the trade room for the month And then on here as well you get Everything I talk about you basically get this cons book map the apex trading we can talk about that later It's about gamma and get the hero the real-time hero indicator You get an extra week with this code tick strike, which is this and then charter sync. So that's everything I basically use But in my room, they all have access to my seara seara chart templates and also my thinkorswim Charts which has the Elgo guy I call it but it's exponential moving average So you can get access to this where you just basically plug and play you just download my my setup and then you get this stuff All right, so you can see this is also the as this is turned down to Um, I was on nazics this entire time, but we missed this monster stop run. So, you know, most times stop runs are Playable This is actually one of my setups called a dumb and dumber where it's not real buying. It's guys puking, right? So You know this rips up and it doesn't hold up here and starts to fail. Well, and you know, okay There were no real buyers up here. This was just a bunch of traders puking And I don't know who the hell was short after yesterday Who didn't get blown out after yesterday, but there obviously were some people that were still short And they just puked them all up and was that real buying up here? No And what else did you see do we talk about influence, right? Again, I missed all this because I've been sitting on the naziq the entire time and then not even putting on the trade But you had some spot gamma levels here Instantly the instant this failed you could have just hopped in short, right? So I didn't love the area like I loved it in naziq. This was kind of in the middle of nowhere Um, we weren't in an important zone I was looking for either move into this one and we already got through this one But what's happening now? Now you're getting a So first of all, this is directional conviction and I could draw a new zone here, which I will All right, so I got a selling tail, which is instant rejection And then you had directional conviction But what that was happening now is we're pulling back to this monster balance area Multi weak balance area that it broke out from yesterday So you have a very high percentage. These are the areas you want to be looking for trades You know, namely long right now and I know elbow guys against that that thought process It's just one of the factors I look at but These zones are important areas. So we've already talked about how markets will pull back to Either the top of balance areas, which would be this zone in this zone or high volume nodes and balance areas High volume nodes are just for the most trade occurred in a balance area balance area are just two-sided trade Where traders are placing bets, right placing their their opinions their ideas when they're wrong they puke them up So many times This is all very simplistic, but I'm telling you More simple you can make your trading the better you're going to do as far as your thought process Instead of trying to understand every single move in the market just understand Any trader that held through this this wicked insane rally yesterday And as they're still in their positions as this comes back to these areas That's where you get the waves back up because you got these these shorts getting out of their trades, right? So that's why these areas are so important. So if something like this happens as well Then you want to be ready for Armageddon, right? So if this does this and this gets through this area 39, you know, again, it's an area. It's not an exact price. I'd say 39 75 to 39 60 ish That would be a massive fail breakout of this structure and you could expect one of those, right? I'm just giving you Ideas so when you're ready every morning, you should be bringing up your charts and looking at all these different if then scenarios, right? So Right now I'm interested in going long in these areas If this fails, I will not be going long and I will be looking for shorts And I'll probably be putting on some longer term shorts like this This would be a massive failure, right? So you just keep that in mind and not you're not doing anything with that yet But you mark this area mark, you know make put some alerts on your charts Or you're like this comes in right to say this is a straight move here, which is very well good Just if they can do that it can do that, right? This could all happen today and you're like, okay Well, wow, we're at that very important area. I want to see what goes on here. Then you start watching your book map That's the that's the webinar on your book maps setups And if they show you, you know bearish, then you're ready to fire if they're bullish That's many amounts because the real-time buying is the most important thing All right, so obviously missed that trade too. I would not have been aggressive on this trade Unless we're at the lug. I don't know if we're at the lug. Hey, look at that I mean, it's every day you should see the the traders in my room just amazed by Obviously the book map buy setups, but these lugs there was no setup to actually there was a setup down here I didn't miss a setup, but it just bounced right off that lug as usual. So let's see here I didn't I really didn't want to go long down there though I'm looking more for shorts because like I said, I'm trying to go in the direction of elbow guy the next two weeks to try to Increase my winning percentage. That's what I'll be doing in my room So I probably wouldn't have taken this trade, but if you are like, hey, I want to I want to go long This was the area to do it. So yeah, here's your volume setup at the Ludwig level That's those are key areas that you could be putting on trade I'm looking for a back like I said to go short, but this was if you're like, hey, this thing's going higher This was your chance to get long Let's see here This was actually sell ice that came in that just got run over obviously It was sell ice versus the Ludwig level in the Ludwig level one And that's why I call them lugs. So I don't have to say Ludwig level 400 times on the webinar There you go So What happened here is this fired off and what do we do? We return to the prior volume event and it wouldn't surprise me if this held wrong color. Sorry And came all the way back down here So what I will consider Right, I'd rather this thing rip up a little higher get a setup and go short But if this comes back down here again retest this volume event and that's barring anything else coming in right A new volume event comes in and I got to redraw a new zone and then play after that But say nothing goes on and this thing fails and comes back and does that and does that Then I will consider a long And at that point I will probably be turning up as well. So we'll cross that bridge when we come to it But the point is my normal trading I should have been short up here with what I'm usually doing aggressively out of this zone, right? And then what I would have done I'd get out at major Ludwig levels And or opposing volume setups. So say I was short here We talked about that that's 111 again. I just didn't put on quick enough aggressively I would have waited little little levels here and you got the volume setup So as this moved an atr out of here, I would have been out. So that would have been a nice 50 point trade It wasn't huge But it was a that would have been a nice trade Then, you know, again, if you're if you want to be long here This was a trade. You could have gone long aggressively out of this zone meaning one atr So what but what I'll do here if this comes back now, which is very very likely will Retest failure. I will probably take a shot at the long Let's take a look at I mean, I would still have this against me But you can see this is starting to turn up, right? So, you know, you could you don't have to take that trade you can wait and once this turns up Then it's go time on the long side, right? Especially if the bounces off the off the lug again That's just giving you information and then you say, okay, say you're using this You say, okay, now we get to cross now. I'm looking for setups now I want to go long and watch this thing rip, right? So this is going to be interesting. You're going to have a fight of the Algo Algo guys Algos, you know the cross and We're pulling back to the red here Right. So who's going to win? Is this going to fail and do another wave down or is this going to pull back above? We will see here shortly um Like I said, if this comes back down to this volume event and retest and fails, I I'll take a shot at the long Right, that's a volume event at the magical lug if we do one of these these I will go long Because again that and then we got these extreme standard deviations of VWAC Algos in my favorite too that play reversion. So that's a very good Highly likelihood if this comes back retest fails that we're going to rip higher. So we'll see so that is that Nothing really I don't know what's really going on here crude. You want to be carefully accrued. This was a zone from earlier Um, they have all pick meetings all day today. So you want to be very careful trading crude But it seems like it's pretty uh Pretty quiet right now. So we'll keep an eye on it, but I'm not you know What I tell my room all the time is You know, you want to be You don't want to be messing around in markets with new information sitting in the market Right because all bets are off volume events the prior volume events anything any Anything you're trading off of all bets are off if one new information is the market So you got to be very careful when numbers are coming out, obviously I mean most people already know all of this but You know, you don't want to be putting on positions into numbers in the OPEC meetings so on and so forth So I will be very very careful trading crew today is the point of that All right, we just heard something so I'll just take a look So this was corn actually earlier you know this I hate trading corn because it's like watching paint drive, but this was very significant yet I heard two different events in here. Let's see. Yeah So you see there was 642 so this is large size. So my threshold for corn was 400 But you had 642 and another force you have a thousand ice cell icebergs in this area And this is the usual pattern right you Move away and I guarantee this was probably an ATR. It might have been two And then the retest so if this does this I may go long corn I don't really want to trade this market because it sucks, but There's nothing really going on right now and I missed my nasdaq trades So I want to show you guys some trades in here too Not that I will force trades by any means But you know, I will go to these in the markets and this is why if you have the bandwidth Anybody can watch You know three markets as far as like in certain areas, right? But if you have the bandwidth you watch 10, you know, keep 10 up 15 Whatever where you're just waiting for either important areas like we've been talking about or volume events And when you can hear the volume events going off Across these markets that I pay attention. If I don't hear anything then I'm not even looking at the market, right? That's how you don't Pigeonhole yourself in in playing You know a market that's doing nothing enforcing trades because you got to pay your mortgage or car payment or whoever You will move to an active market and that's the whole idea behind it. So I know a lot of guys don't like hearing that but it's Burst to the pull a couple months or a month ago asking if you watch Multiple markets and it was like 85 percent said no It's like that you guys are just doing yourself with this service Especially with this information you're getting a book map, right? Like it does not matter what market you are trading futures market. You're trading volume drives markets So as long as you know the thresholds of each market Then you should be able to you trade these I trade these the exact same way. I know the thresholds I know the atr. I know the pattern and then I take the trade, right? And then you factor in your other stuff like your bigger picture stuff. So let's just do soybeans here so we can go over Where we're at I know that's by ice my sweet thinker swim that never Centers the chart when you bring it up Just got off the phone with them yelling at them because it's ridiculous Um, I don't know why my price points aren't around here, but so what do you see in this situation? What do we just talk about on the other markets? That is one Massive balance area like again, I don't have I don't even know how to bring these up right now But it doesn't matter. This is multi week, right? What happened try to break out. What's it doing? It's going back to the top of this this isn't and this was a zone from other stuff This is an area and then you're getting a volume event, right? So this was a prior zone with a volume event This could be considered a new zone as far as the top of this balance. This is not a bad area to go along Just thinking wise. I want to possibly go along in this area Now I'm getting the real-time volume and it's by ice that tells me that may happen, right? So I know that in my back of my head what's going on there and then I take a look at my shorter term stuff We just blew through the it just blew through the blue lug and build new lugs So that's interesting. This I have to actually merge these so I can do this now. Let's just merge this and see where we are Positive wise And it's amazing for these as well like when you start to merge these and you draw the the areas You'll be amazed at how the market respects the areas, right? Uh, this one I can merge as well because 50% of this day was inside this composite pretty pretty close Merge that one There you go. So that's the most recent Composite, right? So this was a small these are smaller Obviously, it wasn't this one's a huge one. These were smaller ones here and then you had this one here So we're coming down here We're not quite there. This isn't too far. That's only three sets away So you have a volume setup and a port area. This is the top of this one and pretty much the bottom of this one, right? Nothing really loves but we are extreme standard deviation from vwap another reason why this can bounce We already know bigger picture. This is still bullish, right? All we're doing is pulling back to the top of this mammoth Right and we talked about traders that wait for pullbacks to get that a lot of their shorts So that's that's bullish and I have a bullish setup, right? So I will still wait though in this situation for a retest failure. So at our retest failure. So Right now, let's just do this quickly. ATR is 2.43 right five minute ATR. It means it's about two and a half cents All right, so let's put our zone in And we'll trade this setup That zone was 50 quarter 49 75 Again, this is a recursion trade that we're doing in my room. I'm doing two different trades For myself and for my room. I didn't learn this as part of my room, but this is the one we're doing now So if I want to go long if I wanted to go along aggressively I can get at 14 52 92 or 14 53 you can round on this 75 So if I wanted to go along aggressively Meaning just outside and I go 110 of an ATR, right? I do that for a reason because you have these algos that snap back at ATRs So when this market could prove and get outside an ATR that's showing me it's fighting the algos And it's that it's bullish enough to continue, right? So what what I would need to see is this 53 if I wanted to go long aggressively I get in right here But what I I'm not doing that. I'm going to wait for the usual pattern where it goes in ATR It does the retest it does the failure and then I get in right the problem with this It's it's it's more of a confirmation type trade right with traders love the confirmation trades Well, this is it but the problem is this may just go like this and keep going So you've got to decide that's where your areas are so important if you are in an area that everything's confluent you're in a zone You know the lugs are in your favor. Whatever you're looking at algo guy We can look at that too. Everything is lined up kind of like that Nasdaq short earlier that I missed Then you just jump in you don't you don't have to wait for retest of the zones, right? You don't have to wait for retest anyway, but they're just it's just a more secure trade in my opinion So algo guy is against this long idea as of right now So we'll see though. I'm still waiting for a retest failure. So by the time this about this 53 by the time it pops Comes back retest fails. This is we'll probably be pulling across the blue over the red And then you'll get the other way, right? But you can see these trends that happen with these things I learned this again I don't I don't bring things into my trading very lightly like it takes months and months for me to to watch something to agree So I learned this from a guy. I was mirroring on book map and he this is how he would trade and he would wait for pullbacks Into the red Put trades on I kind of like one of these and once it gets back below the blue he would short But this was all volume right didn't it obviously was not It wasn't His results weren't as good as he thought they should be so that's why he said he came to me for mentoring on the Volume events right because I don't know if I've mentioned this is the driver of all markets, right? So now when he started incorporating this information with that that's when he you know started to take off again, so Point is that isn't I've been watching that for about three years and then three years since I know that guy And it's a very powerful thing to have in your trading, right? So that's why I keep an eye on him I actually had a period where I didn't watch it as much and I went back and I started researching some of my losing trades and I noticed a high percentage of my losing trades When I was fighting elbow guy which makes sense right because elbows are such a high percentage of the trade in all of these markets You don't want to be fighting a major aspect of it elbows kind of like you don't want to be fighting the Elgos that are extreme standard deviation of evap elbows right if you can get it doesn't mean the market can't keep going Sometimes it'll just we call them huggers, right? It'll hug the three standard deviation. Those are very rare It's way more likely to do that So do you want to try to take a shot on something that happens 5% of the time or something that happens 95% of the time, right? Again trading is all probabilities All right a lot of talking Bruce any questions? I'm just waiting for some kind of setup here. I really want to go short So I would not short this See how we're coming back to this volume event. This is the one that I wanted to be short on Again, I would have gotten out anyway here. I missed the boat. I missed a 50 point trade But the point is I would not take this trade off of this volume event because We've had other volume events after that, right? So I need to see something You could there is a there is a very good chance that this comes here and fails again But I need to see something fresh to take a short But I'm ready to go short based on everything we talked about this in this webinar at the beginning of this webinar So I'm keeping an eye closely on that Yes, let's see if we're coming back to this one. No. Yes. I possibly could shake this trade. Let's see Yeah, this was pretty close to threshold though. I mean my threshold 700 you got up to 658 Yeah, 658 What I was looking for is if nothing else came in since this event I could possibly short this this guy here Right if this fails I may do that because this was technically not threshold, but it was pretty damn close So we'll see hopefully something else will come in and I could trade off of that But as far as Nasdaq's concern all we're doing you can see where this bounced That's why I said if you've had the long Long thesis this was a great place to At the lug volume event So I'm just hoping this comes back into the zone again get a volume of it and I'll short this puppy again Not again. I missed the first one Any questions verse Yes, um Yeah, there was a the question on um an interesting one since we had Gary Norden yesterday who's uh a dome trader And maybe you want to explain why you don't use it. Oh my second. You got squat guy talking over you I said again So, uh, the question is um, do you use the dome pro book map dome pro? I currently do not um Not the heat map you're talking about dome pro. I don't even have that on here. Yeah, I mean you have you have access to it You didn't add it though. Um, yeah, I I haven't used that um, you know, I want to take I definitely want to look at This trader map pro we we had a little uh meeting with Bruce yesterday. We went over this. This is very interesting I mean if you want to Bring it up and we can do it. Yeah, you can play play around with it. I mean, uh, we're here for the live trading That's what this webinar is all about but Well, I'll demo it next week for sure many times over So, uh, I mean you used to trade off the dome a lot. You don't anymore And you you explain it as like you don't uh Find an edge you used to but uh, it's algorithmically driven and um, um, they they you're the way that you traded before didn't work any longer Right. So, you know, not that there's not edge. I mean you can find edge in the dome pro that is more I'm assuming again. I haven't watched it. So Once I watch it, I can you know, tell you more at length what I think of it, but Overall, I mean you got to remember I made millions of dollars scalping. So if I'm not scalping anymore There's probably a pretty good reason for it because I like making millions of dollars, right? So The point is it doesn't work anymore as far as tick for tick for tick like I used to trade, right? And well, there's many reasons one it's algos. The algos are 85 90 percent I at one point I was one of the fastest in the world clicking the mouse in this dome, right? But I was not as fast as a computer and once the computer started taking hold 2005-200 stick 2006 It was over game over, right? So that was that was one of the aspects at the time. The volatility was horrendous So it was like the lowest volatility in history I could talk and you know, it was like the volatility the vol was like at a 10 or 10 and a half or I can't remember but it was So the point is like the market would literally literally just sit Like this for half hour at a time And then what it would do it would like make up like a run So the way I used to trade the way I used to scalp and I would have all my resting orders and hearing back in the day Again, I got to bring out the videos. I just I got to transfer They're in those little mini dvds. I had thousands of hours of videos of me trading Because I used to watch my my scalping to see, you know, where I can get better So anyway back then you would look at the order book and it would look like I don't know if you guys I don't have 10-year notes on this computer, but it would be like 3000 you know 2000 2000 3000 down here, right? So I would put a thousand lot on top of an order And I put a thousand lot on top of this order, right? And I'd know Behind my order. So say it comes down like this and it starts filling my thousand lot Well, I would look below and I would see 3000 3000 2000 and I know if I was wrong I can turn around and peel out on this resting size in here Well, as anyone knows first of all the size is nothing now And even if you were to see a thousand lot that means nothing now it comes down and it turns into a 10 lot Right and so you're like, oh, I want to buy there's a thousand lot there I can get out if I need to it comes down to that price and then the thousand lot pulls and it's a 10 lot Right, so you can't you hadn't there's nothing to lean on to get out of your trades, right? So these elbows pull your screw, right? And if you're trading size If I have a thousand lot on how many price points do I have to pay up to get the hell out of the trade? Right if I got short here, you could see quite a few. So that is why All these things combined the short term scalping the way I used to do it just does not work again I would love to scalp I'm a scalper I don't you know It's taking me many many years to be able to put on trades and hold through the nonsense for hours a lot of times, right? So this is why most traders fail because they're they can't stand this type of movement And that's what the markets are, right? It's just it's rotations. It's nonsense most of the time. It's nonsensical Right aka nonsense, right? It's just it's random It's not random. These elbows are doing whatever they're doing But the point is you're not going to make sense of it. And this is what I just explained this I think yesterday in my trade remember two days ago a lot of times Very very very highly intelligent people on this planet like, you know, scientists doctors Those are the they just are miserable miserable traders because They try to make sense out of every single thing that happens first and foremost, right? So they just can't accept not knowing why it just did that or did that or did that, right? And there's a lot of times there's just no reason you just have to accept This is why like I don't care about this. I care about Volume events, right where traders are caught and I know how to trade them And I understand volatility in the atr and how these markets respect that, right? If you're wasting your time trying to catch every single move or understand why every move is happening You're wasting your time, right? So that's the biggest fallacy for Really highly doesn't mean if you're highly intelligent, you can't be a great trader. Don't get me wrong But most guys that are very very intelligent They want to make sense out of every move and they want to change everything I can't tell you how many people like come in my room And I you know the whole point of my room is to teach people how to trade, right? The whole idea is you come in you learn my method and then as you get used to it and understand it and see the edge Then you can start to incorporate your own things in and or you know Where you don't wait for atr you get in right in the middle of the zone or whatever whatever case maybe I say at every webinar This is the science how you trade these areas is the art, right? But don't come in here and I'll show them something that just works Oh, I'm a profitable trader. So that means it works, right? It doesn't matter what I show them they're always like, what if you take the moving average of the Of the atr and times at times a thousand and it's like you don't why why do you need to do that? Just trade it how you see it And then you know as you trade it enough and you want to start to make tweaks. It's fine But that's the problem of a lot of really intelligent traders. I forgot. I don't even know why I got on that tangent now, but Point is make trading. I don't care if you're a wizard. I don't care if you're einstein Make trading as simple as possible The way I am what I'm demonstrating today to you guys is making trading the Simplest you can make it. You don't need to make it harder than that as far as structure Know your balance areas know where these trending Events happen gaps directional conviction. That's a very important zone when we go touch that zone, right? Yesterday, you definitely want to mark this as a zone know your areas that are important understand where you are in your Market structure So like for instance like yesterday anybody that's getting short right here It's just not and I know how tempting it was trust me around the webinar with bruce and I was very happy Because the longer you've traded the more you say this is nonsense. No, it can't go any further. That's nonsense No, this is done now. No, it's done. It's done and you get killed Right and the longer you trade the more you want to fade this move because how often does that type of move happen? Not very often, right? So but the point is if you understand the bigger picture stuff the simplicity The simple bigger picture that this is a balance area You do not want to be going short as this breaks out of this area You got traders getting the hell out of their positions. Get me out. Get me out. Get me out Make it simple I don't don't trade shorts on breakouts of balance areas. That's that's the simplest I can make it, right Now once you get further far enough away from a balance area Like this area here or in nasdaq then you can start to say Okay, I'm willing to possibly give it a chance at the shorter chance now like this This one was pretty iffy. Don't get me wrong This is not really out of this balance area. This is pretty close, right? But you're fighting an important area. We got a bearish setup that you could take a shot there This was not a high percentage shade. Don't get me wrong, but The point is fine. Don't trade that right there Wait if we were to say this thing rips up here straight line up to there Then you can short with both hands as they say, right? So when it's just make trading simple stop confusing yourself with 45 indicators Moving averages all this other nonsense on your rsi and Make it simple stupid And there's nothing more simple than the balance or the structure market structure important zones where Market moves occur and Your real-time volume it does not get any simpler than that And you will be amazed if you just dumb down your trading How much better you're going to do? So do you want to do you want to feel smart and try to figure out every every nuance of every market Of why things are happening or do you want to make money, right? So we know when this thing for I said I talk about this all the time too when this when this stuff when book map released this Three or four years ago when I finally listened to Bruce and started using it You know and I would talk about on webinars and then you had all these You know, they're not even competitors in my in my opinion, but they will come out and say Well, that that's not right. You don't you don't know like to say bye They were misunderstanding what was even happening But say like the sell ice here, which did work the sellers say the sell ice came in and They were thinking like anytime you see sell ice you go short or anytime you see buy as you go long Which is not the case. I have distinct setups that when they're wrong, then you want to take advantage of that too But the point is it doesn't matter, you know, what? The other argument they had was you don't know what they're doing there. They could be hedging their options They could be getting out of longs. They could guys you're never going to know How are you ever going to know that unless you're sitting next to the guy that is putting in a thousand sell ice? You're never going to know. So why are you wasting your time trying to understand what they're doing, right? I know this is a very important volume of it. I know there was a huge puke here I know there's a big sell ice here. So whoever was buying on top of this puke You know besides the stop run Ran into a mouthful of sell ice. I know that and then I want to see how the market reacts to this volume of it That's all you need to know and then when you have rules in place And my rules are again atr And understanding the retest and stuff like that when you have rule and you follow your rules every time You will be a profitable trader, but you can't just how many coming guys just throw open their chart and like, ah, this looks bullish I'm gonna buy right here I tell I tell the story This this is I don't even want to know what the percentage traders that do this So back in my trading firm days. So before I became a bigger trader I had to share an office with someone right so this guy and I'm not exaggerating right He was my office mate. He would come in And he would so he would be trading or whatever and then he would leave the office and he go This is most of the traders in the firm once they made it like a certain amount of money I get the golden amount back down and this is going to give me another tangent about stopping when you're making money on a day But anyway, they'd make five grand and then they go to the go to the game room and play video games the rest of the day Because they'd be happy with five grand, right? We have five grand's a lot, but my thinking was well if you can make five Why wouldn't you sit down and stay there and make 10 if you can make 10 make 20, right? So but this guy would leave he'd make a little bit he make like 500 bucks He'd leave go screw around come back I swear he would sit down at his at his computer Within three seconds. He'd have an order on just he would just click the mouse and then see how it went, right? So it's like guess what guess how long that guy lasted, right? So that that's my point you need to have an understanding of basic market Function you need to understand these volume events and you need to have rules of trading the volume events if you get all that down You will be profitable. I will promise you but you've got to follow your rules, right? So that leads me quickly to my one rant that I'm going to do today on this ridiculousness And I guarantee you a high percentage traders on this webinar do it, right? Oh, I made my made my five grand today. I'm done Oh, I killed it made my five grand made my 10 grand. I'm done. Why on earth? Everybody knows how trading how hard trading is everybody knows how you get days like yesterday that just kill you You know if you're if you're trying to you know fade it and so on and so forth So the days that you are that things are working and you're seeing things clearly and the market is agreeing with whatever you're looking at Why on earth would you stop at a certain amount of money that you made? Don't get me wrong if your goal if your goal, which you shouldn't have a goal for the day on the upside on the downside Yeah, if you hit a downside amount and you quit and on the upside hit your goal You don't just get up and leave If you give yourself a chance to have a losing trade and then you can give some back, right? So you say if I go up five grand if I put out if I if I drop back a thousand then I'm done for the day I'm perfectly fine with that. I'm not saying be up five grand be up five grand and give it all back I'm saying give yourself a chance to have a month making your you're making day when you're when things are making sense to you Don't get up because you made five grand that five grand could be 10 give you 20 And this is why I made so much money at the time. I would sit in that chair for a nine hour straight I would run to go to the bathroom as fast as I could come back Sit back down back to scalp back to scalp and then the other the other rant I talk about too is Take off your P&L so No, have it in place with your with your brokerage from where you get, you know When you hit a certain amount on the downside, you're done for the day They should liquidate you if your broker does not do that find a broker that does there is no excuse Brokers should want to do that for you anyway because the brokers want you to be trading because they want your money from commissions So if a broker won't do that for you find another broker, there's plenty of competition out there, right? So You know if you if you hit your draw down fine and have you know, make sure that it again Everyone has a plan. Do they get punched in the mouth as Mike Tyson says, right? So don't think that you can just say to yourself. Oh, yeah, if I if I go down $2,000 I'll quit If you're if you're most like most traders you're very competitive. That's not gonna happen, right? So make sure that you have something in place and if you're making money Please I beg you do not get up out of your chair until you at least give some back then you can quit, right? You will be amazed at how much money that you will make by doing that And then the other thing is turn off turn off your P&L and just that's where I was getting at Turn off your P&L and just trade your rules And you know, you're gonna know at first if you're making money to lose the money And then you'll be amazed that you'll start to lose track If you don't have your P&L showing and then you'll bring up your P&L at the end of the day like, oh my god I just made $30,000. I thought I was up like six, right? Trust me that is the that is like the magical key to trading when you can finally turn this off and just trade So those are my rants. I know we're on here to do live trades, but there is really nothing going on I'm waiting for a menson there. I think I heard something in here Any comment or questions on that Bruce pretty self-explanatory, but a few a few questions We're not getting ATR below here. So if I was going to short this You're talking about how bullish this did look but again, if it was bullish This is a perfect example guys if I am staring at this at this chart You were you held the gun to my head and said hey, you have to trade right now without any volume volume setups Sorry, my volume was down if you were talking Bruce. Sorry Um, you need to trade this market right now with no volume setups. Well, we were talking about earlier Well, 100 I would have said I want to go long because of this and this. Yeah, I guess what You I would have gotten killed what happened here the volume event Never got an ATR above here. This was a bearish volume. And what is this volume event? This is broken ice right Actually, this is a new and we can draw that but this failed right, so Real-time volume told me. Yeah, I wanted to be I was bullish. I wanted to be a buyer. This told me. Yeah, no go You see why this is so important in your trading I don't care how great of a technician you think you are a market market technician You are not you will be a hundred times better understanding what the real-time volume is doing All right, so actually I needed to draw this. This was actually a massive I don't remember hearing this. So let's get rid of this I already missed it aggressively, but I probably wouldn't make the rest of here anyway Because we're close to the red lug or blue lug. So but if this creeped us, I will trade this This is a double whammy. This was Cell stops into buy ice Right So I usually just say the dumb money into the smart money Let's get this and you can see here their hammering these by the way This is tick strike I showed you guys on my website. I think they still have this they have some sale lifetime sale going on too Look at my on my twitter page. I put I posted it I don't know if it's still going on but you can get it for the lifetime, you know Don't get me wrong. It's you will be tortured by it. Especially when you have something against you I say it every webinar. There's nothing worse than watching your p&l or watching your trade go against you Should be looking at your p&l like I just said But watching your trade go against you and you get to listen to it too. That's not so fun tickling all your senses All right, so this was the volume event again. I would not have shorted this aggressively You could have if something lined up. I know we're close to the red lug or blue lug too But if this happens to do this this this Then I'll short it and by the way look where this is how we talk about this every webinar too So when you're coming up with your thesis during the day Or you're saying, okay, do I want to be what's my bigger picture view? I want to be long or short. Well, you can say We talk about the scale all the time, right? So Very rarely is everything lined up on one side of the scale meaning I want to be I want to be bullish or I want to be bearish Right, you're gonna have okay. There's this this and this on the bull side This this this right here, obviously Um I forgot I was going with that but you want to you know, the scale is not always usually lined up But you know, if you get everything lined up, then you could be aggressive in one direction And I wouldn't have been aggressive so I missed that trade But now well shockingly one that the liquidity got filled so I was talking about having a thesis, right? So your thesis could have been that's where I was going with that Okay, we talked about the balance area blah, blah, blah I want to be long for that But hey the real time buy-in there's liquidity way down here and I know liquidity is a magnet And I know it's going down there eventually to fill right see what I'm saying So if you had a short bias, then you see liquidity and then you see this volume event You're in you're in immediately breaking that you see what I'm saying. So that's you know, that's how you Say trade that's all I trade All right, so let's draw this and then Obviously I missed one nasdaq trade and then I didn't really do anything on this one Still chance though, and I'm pretty sure we'll be building new lugs here. So I won't be selling into the blue lug Which is never a good idea All right, so that's that that's very decent size my threshold for soybeans is 150 You know, you're safer going closer to 200 But I'll you I'll go down to 150 to take trades off of again So thresholds are just volume events that are worthwhile, right? Don't get this si indicator and start trading every spike in the si indicator, right? Like this was still threshold But you know, if you see like a 60 last stop run, that's not worth trading or 80 ice icebergs, right? Wait till it gets to threshold And that's just from watching thousands of these. I know what the thresholds are for each market And that's part of my course the si indicator course Which the new one is almost complete. I keep getting emails on it guys It's just I'm trying to you know incorporate all this new stuff from book map Not only si indicator the si on chart the sweep factor All this all this stuff. I'm it's going to be in the new course. It's along along with the atr Drawing zones everything. So it's just you know, I have a life too that I you know I sit here all day and my webinars and I get done I'm exhausted then I got to sit there and work on the course, you know So it's taking me longer than I wanted but it's getting close and if you bought a prior course Or you bought the course prior There'll be a deep discount for it If you remember my room and you bought the course your active member of my room when I release it You get the course for free. So don't fret if you just bought it I will have some very good deals for you even if you're not part of my trade room All right. Um, oh I wanted to see where we are in the lugs here What did I lose my just happened here? Did I lose internet? You're you're good My squawk went down too. So we got the squawk channel in my room too That just went down a lot. Let me bring this back up just so I can Hear this guy Can you hear me Scott? I can hear you hear me. Yeah, you hear me. Yeah, can you hear me now? Can you hear me now? Yes I was trying to mimic that AT&T commercial whatever that used to be Verizon All right, so that's what I was looking for here. So this is the squawk Members remember can see as well. So you can see all the numbers and this guy talks So we know and stuff comes out even though half the time it's Market moves like 50 points. Then we hear what's going on, which is not helpful. Um, all right, let's see here All right, so you see here. We're at the blue lug. We're actually below it. So I'm Waiting for new lugs to be built if they haven't been built already. So any minute now this should build new lugs So if you guys haven't watched the webinar that I did with Pamela Ludwig It's been all over this room. It's in my if you want to just email me You should be able to find another room, but One of her one of the best signals is when it breaks below a lug and then it doesn't form new lugs It doesn't have whatever her indicators are to build the new lugs the components to build the lugs and it gets back Back above then it rips. So So what are we seeing here a bigger picture first of all is accepting into this mammoth remember we just drew that That's bearish. There's your new lugs. You saw that? Soybeans Here we go That's a new setup Now I now I can go short aggressive way. I want to because we just built new lugs I just didn't want to do that into the lug, right? So this thing's obviously getting smoked And then this is tick strike, uh book map is Testing out this new they haven't released it yet. We've this is going to be incredible. This is like this on steroids I'll let Bruce talk more about it if he wants to but that's That's coming soon That's going to be awesome. I can wait for that And there's your new setup So book map is going to be a one-stop shop. Can't wait for this for volume stuff that is All right, so quickly the zone is 37 I'm not going to try that zone that's soya oil. We're watching those other markets I you guys are mad enough that I look at soybeans. I can imagine if I get to go over to soya Soy oil, you're gonna be like, what the hell? I don't look at soy oil So 1437 35 75 Draw the zone and then I'm going to try this see if you can put on a trade on this webinar That'd be great. Wouldn't I say 37 35 75? I'm sure you don't want to trade soya oil Everybody in there Like I said, it's all the same. I don't care what market you're watching All right, so if I'm going to go short here I can short aggressively at 32 50 stop goes at 40. I can put on eight contracts Again, if you remember my room you get the spreadsheet too. So that's what I don't think that's just like my little private thing A lot of guys a couple guys have really worked on that in my room. It's been very helpful All right I just got to decide do I want to be aggressive here. I mean So what happens a lot? I just feel like I've kind of missed the boat on this trade as far as being aggressive So this is key. So here we go. This is what I'm talking about with relative volume, right? So remember we talked about So I just made a mistake here because I just didn't look over I said I don't take trades into the lugs unless there's high relative volume We'll take a look at this this guys. This is stuff you have to keep an eye on It's the driver of these markets. So these are volume events as well. You see this relative volume I don't know is six times normal volume For this time period four times three times. Is that is that something that you need to know? Absolutely I would have shorted that last stop setup if I had looked over here I will take trades into the major lugs if I see the big money. This is major major money coming into this market right now right So I basically I should have been shorted off of this setup here. Let's just make this a different color And then what I was getting at too when I was like remember we just talked about the standard deviation algos that snap it back Well, guess what? This is like a self-fulfilling like I can't think of the word but So you've got these algos right now That just buy at these standard deviations, right? They try to say Their program to snap back reversion of the mean Well, guess what? There's huge money in here running them over. So they they buy it They get run over they buy it they get run over they buy it they get run over right because They keep playing the standard deviation. Well, when the big money is actually in here active They get smoked and that's when you get the hugger Doesn't happen very often. I just talked about earlier. It's probably five percent of the time But that's what's happening here. That's why it's hugging. That's why it blew through the lug Big money. It's eight six to three four five times the volume is coming in right now That is so important to know and then when it subsides this area is like its own little Volume setup, right? So you want to really for trading soybeans, which you should be this is a great product to trade in my opinion My best products actually This area from when this basically started So it was right there to there. It's like its own zone. Yeah, it's 15 cents wide But the point is the move out. So you got to remember. Yeah, there's high high relative volume They're selling the crap out of it as you see as you heard Guess what? There's someone on the other side of the street absorbing those orders, right? So this the story is not fully told yet. Yeah, they're winning right now I guess what if this market is able So you want to wait for this to subside a little bit and then say the volume dies down And then you have this area Guess what the breakout of this area is going to be the next move because all these guys all these buyers that took these There's a lot of them are probably still in the trade holding holding holding The subsides and What do you think this is Do you think these stops are these are the these are the this move started to where up here Right started up here. This is where the high relative volume started So here's all the selling you can see the bubbles, right? Somebody's buying those they're passively buying meaning they're just pass supporters in the order book The aggressor was the seller They got run over run over. They're holding like oh, yeah, I think I got it. No got a puke it Okay, I think I got it. Nope got a puke See that guys this it's simplistic, but this is what's going on in these markets So the point is now this is kind of subsiding now we have this area this main area that I just show the relative volume It'll probably do this screw around and then the next breakout of here is going to be the whopper So pay attention to relative volume is the moral of that story So anyway back to this volume event So what I'm going to do here is because you know This has been pretty for long now. It's pretty big move down 15 20 cents I will still short this but I want to see at our retest failure And if this holds I could go along, but I just got to be very aware It's going to be rough sledding to get through all Because any just think about it if you are the buyer We're buying this entire time down passive passive buyers getting run over. Well, guess what this would further say you didn't puke Say you weren't one of those 600 stop runs that just fired off this back to that stop and you still have it You're like, please god, just come back here. I'll get out right So that's why it's going to be very hard for this thing just to do that It's probably not that it can't rally But if you do get long on this setup, it's probably going to be torture Because as this comes up all these buyers need to peel out of their positions that held on that didn't puke That weren't part of these two pukes You know what I'm saying? So my point is while I go along here. Yeah, I think overall this market is still bullish like we talked about I mean, where's my shirt? But here it is. No, that's nasty I was speaking to which we got algo guy pull. So now my I could go along see that This is This is interesting too. I mean to be flip-flopping here But you got the pole you got these elbows that play the cross many times it comes back at them That's the ready go this tried to pull below. It couldn't pull the blue. No, this is very likely So that's interesting. We may go right back up now and that would be real shocking after yesterday not I already showed this but What's my shirt here? I don't know what I did with my hourly chart But I've showed it like five times. This is bullish market. Oh big picture. So I will go along this setup, right? Meaning this is the most recent setup. What do I need to see? ATR retest they'll I will go along but I'm well aware that is going to be probably pulling teeth Rally at least throughout this first part. Trust me if this gets above this then this thing is going to rip I will go along because I let the volume events. Tell me what to do Right. So on the short side, I could go short aggressively I'm not going to do that right here either because I missed kind of missed the boat I should have done on this one, but I will go short if we go ATR retest failure here So we'll keep an eye on that. Hopefully something happens There's nothing in NASDAQ nothing in ES and as usual It's just crazy how these markets just gravitate to the volume events. It's just it's nuts. There you go. There you go And I'm just waiting for something new. There's just been nothing new and that's how I trade This was this is a long time ago. So I wasn't trading off of that. This one never retested So I wasn't trading off of that Right. So waiting for a new of that Could be in five minutes. It could be in five hours But I don't see how this keeps you out of trouble like yesterday We were on that book map webinar with Bruce and the market was ripping and I was I was Joking but I wasn't joking that it kept me out of trouble But the point was this entire move here, there was not there was not one short setup not one It was like stop run Buy ice sell ice stop run stop run buy ice and not one of these failed to the downside not one So that would have that would have kept me out of any shorts. See what I'm saying So this is why it's like, yeah, if you if you're a seasoned trader, you're like, this is ridiculous. I'm shorting Stopped out. Okay. That's enough. I'm shorting if you're just stare at this stuff If you're using your real-time volume, you're like, no not shorting. No, not shorting Oh, not sure because not one of these fail. See what I'm saying So that's why I wait for markets to get an atr below the area to short And you would not have taken one short in that move if you're if you're using your volume correct Questions Yeah, sure, sure. Um, so um question a while back actually, um about Trading stocks and options Uh, I know you don't trade them intraday, but do you trade them maybe? longer term Options, yeah, I mean again, I am not I mean I've learned most of my options stuff from spot gamma, right? um, and he's Pretty incredible when he makes his calls. I mean he he was saying to buy some downside He did say there was going to be a huge rally. I mean you can read it right here He said there was going to be that's p.m. There's going to be a big There was going to be a big move from yesterday and I would say yesterday was a big move um But he was saying there there and he's still saying it that there, you know there is a very I should say very unlikely but there's a Good percentage chance that this market could pull back because there's there's a lack of downside protection Again, I'm not going to get into this. My point is I don't get into I don't Like I've talked about earlier Make trading as simple as possible. You can go down rabbit hole after rabbit hole, especially this commentary today I was reading today. I'm like, oh my god, that is so over my head. Like he's Talking about is the guy's a brainiac. He's really really really smart, right? And that's great and you know You guys got to realize that options players options dealers That are on the other side of your options trade and the big money options trade They are a big big part of the futures trade because they have to hedge their positions Right, that's why these areas I just use as supporters that I mean look and look at that like that's not a coincidence, right? The market came down to this the exact 40 and he talks about this today This is the exact level we call this support All right, let's read it real quick and we'll talk about the zero data options or expiration Let's see Support today shows at 40 55 The 40 50 the 4,000 main major monitors, right? I don't know that that to the support of 40 55 To the pretty much the tick. So this is why you want to know these areas, right? Because these options dealers are going to be participating What's been the phenomenon lately? So back to the basics. I just use these very basic, right? When they come into them their support when they come into them from below their resistance, right? Then they look at that look where this one stopped there you go, okay, so that's how I Use them and pay attention to them, right? And then there's certain ones that are really important like the call wall the volatility trigger You can go to his website You can read all about them and get as intricate as you want with all your Put on all these different options positions So yes, I will take long, you know longs and shorts longer term I was going to put on put yesterday and you know what I almost did it right when Clown knows Paul started talking one of the you know 45 Fed guys a day that talk lately He's he's the ringleader obviously Uh, and I you know what I said to myself. I'm like, you know what? Yeah, because I I'm inherently want this thing to go to zero. We make a joke every day in my room, right? Well like I yesterday I was analyzing and I'm like, okay, this thing's in trouble. My exact words were This is a fail breakout of this the smaller structure This thing and then we built balance here and I said this Should do that right and I wanted to do that and we always joke that it's going to zero Right, but I said if this thing recovers and it gets back through this high volume node The subsequent move is going to be multiples of what it should have done, right? So this is another part of understanding market Market structure, right? So that should have done that It didn't and I said if this gets back through here watch out and that's exactly what happened, right? So I was going to short I was actually going to short into this zone even though it was through this Because just because I I hate this market and it makes no sense that it just keeps it always recovers Or all the stuff that's going on in the world, right? So this is another example Fundamentally, you know It doesn't matter what you think it matters what the market is doing, right? So I think this should go down. I thought it should go back to COVID lows. Guess what it didn't and guess what if I'm trading in that manner Fundamentally, I blow up my account, right? So I've got to you've got to let this struck This what we talked about at the beginning of the webinar Let the market real-time volume Line up with your thesis, right? I come up with a thesis every day. I'm probably 50 50, right? But when the market lines up the meaning the real-time volume book my real-time volume setups when it lines up with my thesis Then let's go time, right? So anyway, I was going to short there and I said, you know what? No, why am I I don't care. I yeah, I want this to go to zero I still think it can come back But once the best time is short Yes, you could probably put on some here It's not the smartest, but this is an area that led to here The best time to short this thing is going to be when this gets back Below here. Actually, this is this is NASDAQ. Yes. It's the same thing, right? That's when you want to go short not right here. Yeah, you could put on some feelers here But the point is yeah, I will put on I was going to buy putch yesterday And then I I decided not to thank goodness because it would have been right here They've been workless right now granted. I was going to buy December 14 Putz But I still will do it if it comes to here. So that is a long-winded answer for yes I will take longer term positions Through options I'm not an expert at it by any means. I'm just you know, kind of just my opinion on which where the market's going my my specialty my talent Where I'm most profitable is trading day trading volume events. That's where I Shine right doesn't mean you can't trade other things But I have I'm under no illusion that you know, I'm not an expert options player And I'm not an expert longer term trader. I don't need to be this is where I make my money And so why do I need to be doing anything else? Right? It's good to be right on a call, but who cares? It's like focus on this That's what I do So that's a long-term long-winded answer for yes, I will take longer term positions, but very lightly Alright that Well answered the question quite well. Um, so, uh, no, I think I think that's it. Um Yeah, yeah, we're basically all caught up. I mean kind of answered questions along the way for everybody. Uh, so, uh, uh, yeah So if we ask you guys are like Thinking okay, where should I if I want to do puts that or I will do them We just read and he's been talking about this for weeks this 4 000 level And that just happens to coincide with the high volume note of this balance. So I can promise you I'll be wanting to bet you around a golf when you come to arizona That if this does this and this gets through this high volume note as a fail breakout, we just talked about this too You're gonna get that right to zero zero for christmas So that's where I will that's where I will load up if I you know load up and again I don't I try to fraction what I trade futures But I will buy I will be very confident of that kind of move at least down to these areas at least down to where this gapped up Right and he's been talking about this 37 3600 area. That was the area he talked about actually before the Fed So that's where I would you know, I will buy like the 3700 puts and see No, they're cheaping to get down there This is all stuff you're just keeping your hand you watch it and right now this is bullish. Yeah, okay We're just pulling back to this guy. But if this gets below 4000, then you're ready to fire I'm ready to fire All right, so this is uh been a no-trade webinar apologies I did miss the one trade like again I could have gone short this this setup here aggressively But we were at the log and I did not like if I looked it would have looked at the relative volume I would have shorted this one But what it should have coulda as my grandpa used to say what it should have coulda if is the biggest word the dictionary Um other than that Do you guys want to trade soy soy oil? Let's take a look here I guarantee those guys rolling the right another guy. Are you kidding me, man? But like I said, it's all the same stop. It's volume. There's operators It's volume events. All right, there's your zone Very high likelihood when this breaks out of this area, you're going to get a big move I don't even have the charts for this like we're not going to look at big picture, but Guys, it does not matter. I keep telling you it doesn't matter what market you're doing You're just service if you're staring at crappy es all day or just one market all day long Telling you Speaking of crappy es whole bunch of nothing this entire time we've been on it bounced off the spot gamma level There was no setup down here again. You could possibly have drawn This zone here. This was close my threshold 700. This was 656. So you could have drawn this Let's just see what this if this did the read I don't think it did the retest Then I think we got another guy coming on here so Now some days are like this. This is you know My point, right? Did you see me force any trades today? No I I didn't miss a couple, but I didn't force anything because I'm not getting what I want to see This is how trade. This is how you are This is how you will be a successful trader when you just wait and you wait and if it's not there You just don't trade It's the traders that feel like they've got to catch every move those are the ones that don't make it And that's probably 90 percent of all traders If I think it's not there it's fatal Again you want to incorporate all this all the prices in that spike. That's that It was sell ice that didn't work out so well for this farm again. I'm always assuming they're in the shaming positions You don't know what they were doing nor do you need to you just need to know the area So that's that let's just take a look and see if this did the usual ETR retest That was only about three points. So that never came back to that zone yet Right here nothing yet. So I mean there's just been nothing If you if you love the long down here, you could have gone long the minute this broke out of here and you had And you could have said I can't I'm long just give you guys ideas, right? Along there aggressively, I recommend waiting for it to get outside of five-minute ATR like five-minute ATR right now It's like seven points. Again. This is just the thinker swim default Never show range 14 period Wilders Excuse me 7.51 So if you were gonna get it gonna get in you'd be in that 110 percent So eight and a quarter points above the top of this zone you would have been in at 70 like 70 75 Right and you could have taken a portion off And it's not a coincidence a bounce there bounced off of that, right? And then I'd watch the zone if it fails you get out of them some there, right? That's I'm sure you got to pay yourself when you're right in important areas So like I told you before I don't I wouldn't trade Well, this zone is still on play, but like the Aztec zone I was talking about here this prior zone I wouldn't trade this zone now So say for instance because this happened way before So if it does this this and this I won't trade it, but I will say I got long here I will watch this so if it starts to fail I'll get out of some see what I'm saying But that's that's where I will trade prior zones. I won't trade them if this event happened this event happened that that one's done for me Right doesn't mean it can't react, but it just I've noticed you know over the thousands I've watched. It's just not the best bet All right Bruce pull out a nothing today a little ranting And that's what it is. This is trading guys some days. It's great some days it's That's so great any other questions I have to answer but No, I think I think we we're all caught up. Um, so Yeah, yeah, thanks scott And guys we have one more pro trader webinar tomorrow With jay trader, uh, and just a note for those of you New in here We're having this discount still The 50% off the first month of book map Again, this is for trying book map If you want to try it out for for that month And then see if this is something that Resonates with you You can also upgrade if you have book map global and you want to upgrade to global plus this will still work For the first month. Give it a shot. This is the time See if you like it and Come to the webinars Yeah, and then speaking of Sales, I never do this. They literally some guy mentioned it On here and I'm like, yeah, I'll do it. So this is till the fifth 30% off for the first month if you want to come check out the room A lot of extra person there a lot of good traders The spreadsheet the squat I'll let you get my templates So there's a lot in that room that I think is well well worth the investment Plus I trade two times a day when there's actual trades. So I trade it Get on around six or eight ten central I usually stand for about an hour and a half there and then I'm back on it two o'clock to the close and central so two to 15 of the close so That's what you get from that take advantage of that because that's the first time I've ever offered any kind of discount to my room Because I think it's underpriced as it is for what you what traders want in there. So so I got All right, sorry, no trades today. Mr. Couple, but that's trading as well It's really hard when I'm on one screen and things are whipping around sometimes you're going to miss trades. So Apologies on that. Yeah Just blame it on the on the monitor scott It's definitely a monitors Think or swim Yeah, exactly exactly No, thanks. Thanks scott. We'll see you next thursday. Thanks everybody And we'll see you maybe tomorrow for the j-trader Okay, this is all right