 All right, good morning traders and welcome to the bookmap advanced Education and webinar here today with Scott Pulsini futures trader. He will be trading live It is in demo paper trading mode. Just so you guys know it's not a trade cop your service here is to learn From professional traders their way of reading order flow their setups How they manage their risk so let's go through the risk disclosure You guys know who Scott is if you don't there's all sorts of stuff. I'm sure you can find online And I will copy and paste his contact information into the chat for you Let's go through the disclosures and turn it right over to Scott the general disclosure just so you guys have to know what you're getting involved with in here and Some of these disclosures 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 The risk disclosure trading futures equities and digital currencies involves substantial risk of loss And it's not suitable for all investors an investor could potentially lose all or more than the initial investment risk capital is money that can be lost Without jeopardizing one's financial security nor lifestyle only risk capital should be used for trading and only those with sufficient risk capital should Consider trading past performance is not necessarily indicative of future results. All right, so with that said Scott are you in here? Try to turn it over there you are. All right, so let's see you can start presenting your screen And then I'm gonna rebroadcast it In my screen Yes, hold on a minute everybody and I'll get it up here and I'll Stream it as well I'll set try to mute this channel. So I don't hear people coming in and out and it's not working so I'm muted on advanced our way Advanced webinar on top, right? Yeah I have The option to mute and it says It's muted and I'm still hearing everything but what if I come down to the this actual voice channel that doesn't give me any option to mute it Yeah, I mean I hear the like this kind of Yeah, I hear people like leaving this kind of the dunk Yeah, yeah, we can hear it as well I'm not sure Scott. Let me see if there's settings in here somehow Usually you click on the right click and it says mute it work says mute for advanced webinar pound advanced webinar That's muted. So the whole thing should be muted all these advanced webinars But and it doesn't give me that option on the advanced webinar with the little speaker next to it So I don't know if I click on it Let's see not sure not sure Let's see Find something else or if anyone has any idea in here How to how to do that? Yeah, I don't know Scott. I don't know I'll keep I'll keep looking and I'll in I'll interrupt you if I can find something though I'll I'll be searching for it. Why don't we get started and then I'll I'll I'll let you know Okay In and out All right, actually give me give me one second. I'll be right back. Okay. All right, okay so Scott if you when you scroll down to the bottom on the left margin of Discord you see, you know that your your screen is lit up there and you have the little phone icon with an X on it You see that mm-hmm look to the left of that Yeah voice or there's suppression there No, a suppression. I don't know if that's gonna do the trick or not I don't even see that there should be like a little a little like a like a bunch of lines like in kind of a diamond shape Do you see that? No, I mean I see that Yeah, it looks like it won't work anyway This is this is like if you clap your hands or it said when you're speaking your friends will hear nothing, but you You speaking so never mind Yeah, I don't know every week. It's been fine and now off a sudden it doesn't Keep changing. All right Whatever so figure it out. We'll have to deal with that. I guess So I was I just tried to short here in ES first on so as you guys know we're using lugs A lot of weak levels these are Like basically the core the book my volume is the core of my trading, but I'm using these They're very very very powerful. She has a bunch of metrics. She's been around for like 12 years But they're based on from what I can tell again, it's proprietary, but you know market profile and Pivots and whatever she's using but they're absolutely incredible for support and resistance for targets for And that's how I was using them originally and then You know last very recently I started I went back and I watched the webinar I did with her it was basically for her to just educate me I put that in the room a few times if you guys need it. I can try to post it again, but There's a whole nother level to using these and you know what happens What doesn't happen what the expectation is for something to happen and when it doesn't happen Then you're ready to you know go the other way So for instance like you know when you get above the yellow directional line Expectation is to tag the red if that doesn't happen Again, this is just using level with levels not divine if that doesn't happen Then you expect it to you know at least come down to the yellow if it gets below the yellow Then you're expecting blue right but things change all the time and if you're just using level with levels It's like okay. Yeah, I expected it to get to here, but where do I go short right? It's like do I just pop in a short here or here and you're you know You always give the benefit of the doubt that it could still come and tag it So that is the beauty of using these with the with the volume because if you you know if you already know Okay, it didn't tag here and then you get an up bearish volume set up Then you know hey you have this information on what didn't happen now You get your volume set up and it's go time at least to the yellow and then possibly the blue right so That's why using the tuning conjunction is literally the most powerful edge. I have ever seen in futures training so Again, I haven't been doing this thing justice, but I am now so anyway So, you know, we got below the yellow expectations of the blue for some reason if we start getting bullish setups Well, that's telling you something's up and we'll probably come back and hit tag their yellow or the red just kind of like we did here Right this should tag here. No I'm sure there's some kind of setup here overnight, but no and then we came down here. So I was just currently short So any any setups I get volume setups I show you I'm taking aggressively Short below the yellow anything above the yellow long. I'll take aggressively otherwise I wait for so for instance Say we get a bullish setup right now And I'm drawing these on this chart. Obviously it's on book map, but So if I get a bullish setup, I need to see a full atr move away five minute atr Or retest a failure and I get in three cores and atr if I see a bearish setup I'm in immediately three cores and atr. I don't have to wait for a retest of the zone because again I want to be aggressive below the yellow yellow luck So that being said, I was looking to be short aggressively and in the open there was a ton of stuff firing off In all these markets and we'll go over all of them here shortly, but So you Open here we had buy ice We had this zone here first this light blue zone and we moved higher and then we had this zone here and I was Again, I was looking to short aggressively So we did not get a if we would have got a full atr above the second zone That's the start blue zone. So the first zone was this this happened later So don't pay attention to that right now. This was the first zone buy ice I was watching that and we got above there and that was bullish. I'm like, okay Well, if we get you know retest retest failure, I'll go long and then more ice came in You can see right here buy ice That was about 800 ish Now was this set up here So now I was watching this and if this went full atr retest failure I was going to go long instead it didn't get a full atr and it got back below here So remember I'm looking to short aggressively Three cores in atr. So it got three cores in atr below here Actually, three quarters was right around here, but I didn't want to short right in the middle of this zone So I just moved it below gold stocks gc 180 for compress below this prior zone and below the spot game level So I shorted it just maybe was about a point more So I shorted it there and then what happened was as it moved down We got a brand new setup Right here. That's this. This was 1200 buy ice. So when that happens I can trail my stop based on the new setup and or add so I was looking to add I still think we're coming down here because you can see this liquidity will go over that But if this would have held if this buy ice would have come in and it couldn't push it higher Then I was going to short aggressively below this too But what it allowed me to do with the new setup is trail my stop three cores in atr above the new zone So all I did all I was risking on this trade at that point So before this came in I was basically risking you can see where my stop was I got in here and I was risking all the way up to here because of this setup Once this came in I was it allowed me to trail my stop all the way down here Three cores in atr above this zone. So I basically scratched the trade With the opportunity to possibly catch a huge winner, right? So that that is the beauty of the setups You can trail your stop based on market structure and volume coming in not because you don't want to lose money Right, I'm not going to go in there right right now. I'll probably do it at some point today but Trail your stops based on Something relevant to the market not relevant to your p&l You shouldn't even have this p&l up you should be trading without your p&l Set it up with your broker where if you're having a bad day, you automatically get shut off Set a preset limit That is the number one thing you should be doing because if you think that you can control yourself when you start to get Especially most traders are very very very Competitive right and it's one thing to talk about. Oh, yeah, you know if I go down this much I'm going to shut shut my screen off When you go down and you feel like you're being wronged and you know your competitive nature Trust me. Please trust me. It's costing me millions of dollars You are not going to many times make the right decision in the heat in the moment as far as I'm done You're going to be like screw that I'm getting my money back Right and then all of a sudden you have a horrible day where you lose You know 20 30 percent of your or more of your trading account So what you should do first and foremost we've talked about this many times is set up a drop dead stop limit Um with your brokerage where if you hit a certain amount certain percentage Whatever you come up with you should never lose more than 5 percent of your 5 or 6 percent of your account value in a day It automatically he shuts you off, right? This is exactly what happens with trading from that's why trading firms have risk managers Someone guys go on tilt they call it going on tilt when you're not you're not right in the head You're not making right decisions and you're getting killed And cut you off Well, make your broker cut you off and if you again if you think you can do it on your own There are very very few guys including me. I mean I'm much better now But you know very few guys that can just shut it off when they're when they're losing because again that competitive nature comes out so That rants out of the way. Um, so we're just bouncing in between these zones. Nothing new has come in here. So um, I'm probably gonna Soon as something new comes in I'll delete these zones because we've basically tried yeah, we When we haven't gotten ATR Below is this one. So technically actually I missed us straight here both tops gc 300 contracts So I'm going to just delete these now because we definitely move At least in the lead this one. So what why I should have been long again We've had a lot going on here to start this day, but here was your setup This is where I stopped out three quarters of an ATR, right? Well, what happened here? I'm willing to take longs below the yellow log as long as we go full ATR retest while look at happen Of course, they're always perfect. By the way, if I miss them, they are at look at this. This is full ATR Here's your retest perfect retest to the top of the zone I should have been in three cores in ATR. So I should be long right now 10 points and counting But of course, I missed the trade But it is what it is It's a learning experience for you guys. I should have been long this setup I'm going to delete this too because this is now traded An ATR below there too. So this was the main zone and you can see like things change, right? I was ready to go short. I was short. This happened. I got out what I should have done is gone long So this is going to suck while I watch us rip off 50 points, but Gold guys GC 161 contracts Gold spots GC 433 contracts Good for sorry. Oh, sorry just what might be helpful Um Is uh, I can show you how to use the notes column, uh, and you can have an alert Come in for the notes column at a specific price level. Maybe that'll help you but uh, I can help you offline on that Scott Okay, if it slows down, you can show me and then other people learn too. Okay You think I'd know after three years how to use that stuff, but that's not Um, all right. So gold it's going a little nuts here. We had huge stop runs to the downside Yeah, you can see here almost 700 right here. That's this yellow zone and then another actually I didn't forget to color this So it's not confusing Oh, and thanks guys, uh For the help there in the chat room. Uh, Scott, you shouldn't hear that anymore. I think we got it Yeah, I don't that's cool. What did you do? Oh, there's a setting in there, uh, that uh, uh, these guys had both Nate and uh, uh, Rambo Rambo knew I did not know Setting that I don't have to turn on though. No, no, I got it for the channel You shouldn't hear it. You shouldn't hear it now. I haven't heard anything. So it works. Okay. Um, so again, we had huge stop run here Right cell stops. That was 700. We had another 500 here, which is huge again threshold for gold is 150, right? So anything over 150 I'm drawn zones and trading off of this was 700. This was 500 So what happened here? Right? So this is the beauty of the volume The volume again for the 1000th time is the most important thing that you can use in your trading, right? If you're not using volume You don't have all the information. I don't care how great of a technical guy you are You don't have all the information. So You know, you're watching this move here and you're like Yeah, we're breaking down out of this balance. I you know, I know this isn't We'll go over this probably a little bit, but this market isn't trouble, right? It is kind of just balancing here but this was Major balance multi-month, right? Try to break out Hailed and if this thing is going to stay bullish, it needs to hold this high volume No, kind of like it did here. We want right through it and now we're kind of just building balance below here So this thing is going to do this and what I kid with my room is too Um, every every time if you watch fox news channel Every time they come out with this gold commercial by gold and by silver I swear to you every time that commercial airs the next day the market gets crushed So use that as your indicator. So that's another indicator because it's been harrowing a lot later lately that we're going to do this But anyway, um, so you know, you're trading technical stuff. We're like, yeah, break down from balance, man I'm in yes and we just now we're doing this and you're just sitting there like holding the bag like what happened I thought well, this is what happened. We had stop run That one held this one was a major dumb and dumber. What's a dumb and dumber a puke Usually retail puke and there was no follow-through big the big money did not continue to push it down rejection You're short. You're holding the bag wondering why the trading gods hate you if you're using volume you won I didn't even get in this trade. I was going to potentially short this And then this happened and I'm like, okay. Well, if we get a three quarters of an atr below here I'll short this and we never did and then we did this so technically right now what I'm looking for Is a retest this is what this is the exact trade. I just missed an es Here's your actually have new I take that back. We have a new uh volume. So let's see what's going on here So I would have like the yes, say this didn't come in right now when I was just talking a little bit ago Right. I'm watching this zone. I would have waited for a full atr because we're below the yellow I'll show you that in a second or retest fail. I would have gotten long Something new came in so now we default to the newest volume So right so and you could tell it was it was right back in these zones too. So this was 320 This zone actually captures that perfectly and you add another 500 the other way So whoever just loaded up whoever just jumped on the stop runs and loaded up short They just puked them out the other way, right and you can see all this with book map. That's the that's the key Net gas mg 175 contracts. Let me look at ng today too because this that's been nutty Huge huge moves. All right. So that's that stop zone, right? You actually had 161. So this is what is 161 sellies Talked by and huge 150 for Congress. This is gonna this ds trade is going to hurt But I just say it's gonna go 50 points without me. There you go. Here we go. I should have been in down here That's already 30 points 25 points. All right. So anyway, let's get this drawn and I'll head over to I said, this is just balancing in the zone. So let's draw the nasdaq real quick so you can possibly put a trade on here So you can see here Huge stops Not huge but big but my threshold is 150 in here. So 271 I want to mark up So all you do people always are confused on how I draw the zones, right? It's it's it's very technical Not you come over here crosshair Figure out where it's spiked. Look at the bubbles where it's spiked. That's right where it's spiked And make sure you incorporate all the bubbles until it dissipated, right? And that's your zone How you do and I try to be consistent with the coloring just so people know what it is and including me So I try to use yellow for stops. But if we get back to backstop runs, I'll go white on the second I'm like a guest on song gold So that's this that's the first step, right you draw the I draw the volume of that now I look at my lugs blood with levels. What's going on? What do I expect? So what do you see here? This is very very typical. This is what you expect to happen like I was telling you earlier It's about what should happen. What didn't happen. This is exactly what you expect When you draw new lugs Well, actually on the downside you expect you expect this Prior red to hold yellow to hold directional here. Well, what happened neither one of those happened So this is an instance of what didn't happen that should have so we drew new lugs to the downside, right? You expect prior red to hold directional to hold you could bounce around here and then you expect that. Well, what happened They didn't hold now. We're above prior red. That's bullish. This is your target, right? So you're I'm looking long and I'm looking long aggressively with this as my target Unless something else comes in volume wise that Turns that theory or thesis around right on its back. So right now You have the volume of that. I know I want to be long Then we go to The atr is a sweet 41 points right back to I mean, I'm not complaining because the trade has been horrible the last three days As far as volume and stuff It's been relative volume has been pathetic. It's been like half Um, that's why it's been so choppy. So anyway so then Come over here What did I say 40? No, it's 41 23. So it took me about a month more than a month I used to use my calculator and then I came up with this really high tech thing on the spreadsheet where you put in put in the uh ATR and it does it 75 percent I know how high tech that it trusts me for me. It's high tech. Remember, I'm I'm turning 50 in a couple weeks So I'm not that high tech. Anyway 31 points is three quarters in atr. So what does that mean? That means 31 points above this zone I will go along this trade right because we want we know Based on the logs and everything I just talked about that I want to be aggressively long So that is three quarters in atr You know, if I was being conservative to say we were below the yellow log I would wait for full atr. So 41 points retest failure This one I'm going aggressive right out of here. So 31 points One second So we're at 22 50. So that's 53 50 where I will go long. I don't really like went long Through this I can see this liquidity. I mean, first of all, you know, we're going to take this liquidity. So You know, we see that we've seen this some like three days in a row in my room. It actually didn't happen yesterday. What's going on here? Oh, by the way, this P&L was from Right at the close yesterday into the earnings. There was a huge stop run. I got short and it obviously worked out All right, so 53 50 I will go long So we talk about this all the time, right? This is how I trade these zones This is again the science There is no disputing. That was a 300 plus stop run. There's no disputing. There were 752 total sweeps here So you had the stops plus somebody else was buying the sweeps, right? So again, you see the huge blue bubbles those are the market orders The black dots are resting orders that were I use black for sells so that that means these were Offers in the order book that got swept. So somebody just bought a ton of them Half of them were buy stops the other half were natural gas numbers coming out here in five minutes, but the other half were someone sweeping the books so That was the volume event. Oh, but what I was saying is that's the science The way you trade these zones you can come up with your own with your own theories on how you want to do You may say, hey, I like that. You know what? I'm going to buy one right here. I see this liquidity up here I'm going to buy one here. I'm going to risk, you know an ATR below here. That's fine Trade trade these zones. How you want to trade them? This is how I trade them after watching thousands of them over two years This is what I've come up with as the best method But you know when volatility gets really high, you know, you're risking right here So you're getting in 31 points above the zone Then you got to risk 31 points below the zone plus the size of the zone So you're talking 62 ticks just with this and then you add in this This is another so you're looking at a 90 tick risk trade You know, it is what it is the volatility is extremely high A 200 300 point move out of here would not be surprising at all and it happens all the time You guys saw last week we caught a 200 point move to the downside Watch the go back and watch a YouTube video from last week So I'm willing to risk that because I know the volatility. I have to I have to risk that kind of you know um That kind of distance away from these zones Because that's what the ATR is average your range. So, you know, it's not that you know I want to risk that but my point is if you say, you know, I want to be aggressive I'm going to buy one right here and just I don't maybe if I come up here I'll add but I'll get it right here and that you could do that too And come the more you watch us the more you practice you can come up through a method methods This is just the best way that I have I have determined to trade these zones So anyway, we will get long there The only way I won't get long is if this trades a full ATR below here That's going to invalidate that as a long setup and that what I'll do is look for a short Right because that'll be a full ATR or retest and fail that I'll go short So I'll have aggressive to the upside on longs three quarters and ATR because we're up above the yellow log I will still go short If we'd go a full ATR because the point is and retest fail the point is you shouldn't be seeing bearish setups now This should go straight to the red log. If you start seeing bearish setups There's something up right and you're ready to pivot and trade the other way So again, we are here We're above the We're above the yellow log. You should not be seeing bearish setups You should see bullish setup bullish setup We should tag that if you see a bearish setup something's up And then I will look for a full right to our retest fail and I will go short With my expectation to get expectation to get below the yellow log And eventually tag the the blue So we will let that simmer see what happens there I really hope it come back down because I'm already stewing that I I'm not long this I'm sure should be again The main thing you want to notice here. It's just slapping you in the face, right? What do you see? That is resting liquidity. That's been in there forever That is a magnet. It is not. Wow. Look at look at all these huge these huge bids down here And they're not even huge. I mean they're relatively huge to what's in the book That's why you don't look at this you look at this and showing you you know a different view of things That's a lot of liquidity right now So again a newbie would look at this and be like, yeah, I want to get long man These guys are willing to support this market down here. It's the exact opposite The longer you see the liquidity like this liquidity. I don't pay attention to why because they just threw it in This could be them trying to scare the market or whatever Liquidity that is are the magnets is the is the liquidity that's been in there forever. So my point is Yeah, we could rally we can come up here bounce off zero gamma play games about the end of the day The odds are extremely extremely high. We're going to come down and tag this liquidity So if you have that in the back of your mind, you know, you could still go long and play long But the minute you start seeing short short setups and the minute we get back We're still below the yellow but the minute you start seeing short setups, you're like, okay I'm ready. I know there's bands of liquidity down here You know, you see a short setup you can be aggressive and this is where we're going Right, if not saying it's happening right now, we can come up here. We can tag this we can even do one of these Point is when you know where the liquidity is that is such a huge edge. We will get there eventually FOI be nice for advisee s 119 contracts FOI be nice for advisee s 200 contracts Mr. Trayton here multiple to ice for advise contracts FOI be nice for advisee s 250 contracts Look at this ice coming in here in Syrians threshold is like 150 200. This is It's still coming in. So this is the trade I missed. I actually marked this up. I was going to put this trade on Of course, I got distracted You have buy ice the open Here's your ATR. Here's your retest. Here's your failure. Go on Over and over. I don't care what futures market you're trading guys This is why you want to have multiple futures markets that you're watching So when one sucks, you can move to another one. So This this setup was obviously down here, right? I would have been I wouldn't have been aggressive on the buy side. Actually, this was up here where this happened But I would have traded the retest here. Is that ice here doesn't move away Here's your retest Let's go back to NQ I think I'm filled there Oh Pretty close Right, but what's going on here now? This is a brand new event, right? So I will I'll let this fill based on this But what I can do is once I fill in this I can place my stop based on the newest event Right, it's a little more risky because again, this is a new event If you want to be really conservative Right You wait for this to trick to trade three quarters an ATR out of this event, right? Let's get this Different color So this is a riskier trade because I'm willing to get I'm still willing to go along Three quarters an ATR out of this yellow the first stock run setup a brand new event came in So what I actually should do if I follow my rules And I won't this time and I'll probably get smoked on it because every time I break my rules I get crushed Is I should move this three quarters an ATR above this newest amount, right? But we'll just put that out if it comes back up. So what's going on here though? Remember what I said this thing looks extremely bullish By lug standards. What what's going on here? We're about to put in A bear setup here, right? So Again, this is 26 quarter ATR is 42.3 So 42 and a half points. So if this gets 42 and a half points below the zone That's a full ATR and then I'm looking the zone here and I'm looking Retest to short right because look if there's real buyers in this market You don't think the big money sees exactly what you're seeing You know, they have developers that are using the CME MBO data as well If they're a firm they absolutely do you don't think they see that if they wanted to buy they can just pile in on top of that And then just rip this thing. Well, where were they? How come there were no real buyers right there? That's what you got to be asking yourself right now. Now We just got a full ATR below there, right? That's 45 points more than 45 points Something's up. Why did that happen? Don't know don't care, but it did now what I'm going to do I'm really glad I didn't get filled on this because I'd be complaining the rest of this webinar Because like I just said I shouldn't put that on right there because of the new event. So now Here's your ATR. I'm looking for a retest then a failure three quarters and ATR. I will go short Stop will go three quarters and ATR above there Right. So again, things change very quickly in these markets. You come up with your thesis You come up with your expectation if something different happens, you're like wait a minute that that shouldn't happen Okay. Well, here's your volume Now you can try it off of it. Like I said I was aggressive above the yellow line any any setups. I wanted to get long. That is a target Well, what just happened there? We had to stop run by stop run. Where was paper to push this thing fail So now I'm waiting for a retest failure. I will go short That will be one of my targets and then my main targets are here and down here I'm willing to see how quickly like I'm changing my thesis and remember overall It hasn't we haven't seen anything yet, but we know that liquidity is below an ES Let's see if there's any liquidity below here Yeah, I mean that's not I usually would say yeah, that's kind of far away. We might not get through today. This is like a This is like a sneeze in this market lately a couple hundred points is nothing So that's interesting too. It's not as it's not as heavy as well. Yeah, I take that back Okay, so now look at the difference here. What do you see above? Black hole basically I mean this is liquidity, but it's nothing compared to this. What do you see below? Huge liquidity that's been in there forever Right again every started my book map right at the open here But it's obviously been in here at least since the open that is You guys have no idea what an edge that is just to know that right so you're like, okay Well, we got a bearer set up. We should have been nothing but bullish Not and there's huge liquidity below. I can't wait to short this thing on a retest failure right And that's what I'm gonna do I'm just gonna delete. No, no, I'll leave that in let's see so Because I want to make sure when if this retest which Probably 80% of the time it retest the zone this retest fails I just want to make sure I get in like if three quarters an ATR Let's figure this out three quarters an ATR is with my handy dandy high tech 41.69 31 points One and a quarter points. So the bottom of the zone Again, we're looking at this white zone one of a base zone of a color that is is at 26 So 30 points is 96 94 94 and a half we'll say 94 and three quarters so that would It put me just below the zone and that's what I wanted to make sure of right Say the ATR will put me like right here Well, I don't want I don't want to short right in all the zones or a spot game level But actually this three quarters an ATR puts me right what I'll do is I'll go right below the spot game So I'll risk another four points in this or I'll go short if we do this And then my stop will go 31 points above the top of the zone, right? So that's still going to be if I'm getting in say 90 all the way up to 31 points above the zone puts me around 76 ish Right, so that that's like an 80 tick risk, right? So one I can only trade a one line, right? But you're adjusting the volatility it is what it is I don't want to risk 90 points But the ATR and the volatility is telling me I have to because if I'm you know respecting these zones these volume events Then this is what we talk about all the time I'm trying not to go on around on this But you know traders will say okay like you guys are watching right now I guarantee some of you do this even with me telling you not to do it You'll watch this you'll wait for the retest you're all patient You'll get short you'll wait for this and then you'll put your stop right there Because you don't want to risk more than 10 points or 20 points The market does not care what you want to risk. This is what the market cares about This volume event that's why you want to get outside of it, right? Please please please please please don't trail your stops Based on what you want to win or make or lose it makes no sense The market doesn't care the market cares about volume events Put your stop in a meaningful if you don't like that then You know the other most powerful thing that we've been talking about today are the looks right So you know in this instance, there's really nothing here But say there was like a lug here like a baby lug we comb I'd say it was like down here if you want to put it just like a ATR above that once you get short fine. I'm fine with that Have a reason your P&L is not a reason that is Last week I went on around about it too. The biggest mistake retail traders make are the trailing stops I'm going to trail my stop to break even for what reason because you want to get stopped out Because you're going to get stopped out most of the time. Please put your stops based on something important You may have something else that you look at that's important v-wap standard deviation of v-wap I don't care. Just don't do it based on your P&L. That's all I'm asking All right, so we're Trying to retest the zone again 80% of the time. So listen Sometimes this thing just goes and you're like Damn, I wanted to short this and you know, you've got you've got to decide how you're going to trail these You may say every time out of here aggressively. I'm getting short. I don't care or long I'm not going to wait for retest failure, right? But it's just way better better odds if it retests and if it fails then just trying to hop in and then watching that right, so All right, that's a lot of talking any questions bruce um yes, uh, so L trading is asking so when you when you enter you are risking 1.5 atr per entry uh 7.8 er away from the event at entry and 0.75 atr above below the event Do you have it right? Or does it have it right? Okay, uh, and if the risk gets reduced, uh, if new volume events are created in direction of your trade Uh I guess uh, and Yeah, and then yeah, then reduce the risk. Uh, if the volume events created in direction of your trade if a new event create like you saw in the ants this morning I was able to trail to bring that stop down And basically break even in the trade. I lost a little bit, right? So it's like my original like I showed you guys when I got short. I deleted the zone, but I originally got short here My stop was way up here because that was where the event was three cores in atr above there was my stop Well, when we came down here, this was the new event I was able to trail my stop all the way down to three quarters above there and I got stopped out I should have gone long again And I'd have this much profit, but whatever the point is. Yes, when you see a new event that allows you to trail your stop I didn't trail my stop because I wanted to break even or just lose a little bit Because if you do that you're going to get stopped out use or use the volume reasons to trail your stops Sometimes you don't get them right sometimes this goes down And it does this and there's nothing here and nothing happens and then it comes out. Okay. That's just trading I mean that doesn't happen very often where you won't get a new event, but it does right? So just Trading is probabilities. Period. You know, you're gonna you're gonna have losers Not I have losers all every day. I have losers, right? But my winners when I catch them, they're huge so it's like Most people just cannot grasp that about trading like they think they're going to sit down and make money every day You know a constant churn of cash. It's just not going to happen It's make a little lose a little make a little lose a little make a little more Lose lose a little you never want to lose more than again on a on an individual trade You don't want to be losing more of the 2% of your account size On a day you don't be losing more 6% and then there's going to be the days where you catch the running trade And we call last week I didn't really add but you know where you'll cut You'll say you get long here and you get a new event and you trail your stop and but you add And then you get a new event you trail your stop for these two trades And then you get it and then you add and then you're going to do it and then that day This day is a huge Outsized day, which makes your month or year. That's what you're shooting for you So you're basically trying to tread water until you get that huge trending trade That's what trading is if you think if you think you're just going to scalp all day long and risk two points and There's it's not going to happen. Trust me I used to be the big one of the biggest scalpers on the planet If i'm not doing it, that should open your eyes to you know, maybe that's not a viable way to trade in the world It's not because the algos are 80 or more of the market So the the days of scalping a couple points. They're done It's over you may get lucky a few times in a day or a week You're not going to make money that way and you're going to turn your account You're going to pay four to five dollars a round turn and you're going to be done So again, you can learn the hard way or you can listen to my 23 years of experience And you know, again, if i'm not doing it, that should tell you something You think I like putting on trades and watching this nonsense for three hours until I get my tariff It drives me crazy, right? And I sit there and complain all day long But if I could was able to trade scalping, I would do it in a heartbeat Again, I was one of the best in the world at it. So You got to adjust trading changes, right? And that you have to adapt and back then I wasn't able to adapt because I didn't have once this one away Once my scalping one way where the algos took over You know, there was nothing I couldn't adapt because I wasn't a computer There was nothing like book map back then if I would have had book map First of all, I would have made probably 10 times at least 10 times more than I made when I was killing it But when it things started to go south, they would have never gone south because I had all this information that you have here Guys, this is the edge like there is no better edge in trading than what you have right here period Like I showed my room in December without even the level of levels because I want I wasn't using them in the right context I traded for the entire month of december. I traded nothing but Volume setups and I was didn't conservatively meaning I waited for a full at rv test failure and I think I made like I think the piano was like 12 grand or something or 10 grand something like that And I had one bad day where technology or it froze up and went down and I lost like seven grand On a couple trades because I couldn't get out or ever But the point is the piano doesn't matter. My my point is you can this is the edge This is the number one edge this this and knowing and you know Knowing your areas and stuff like that that that in the volume This is number one. And then if you want to use level levels Again, I you know, I don't I do not trade add things into my trading very lightly let alone talk about them on webinars So this is the second strongest edge that I've ever seen right? So, you know, if you don't like these whatever I don't know why you wouldn't but if you don't that's fine You have the number one edge right here, right? So use it in any trader that's not using this It does not does not have all the information and if they're a great trader, they'd be 10 times better by using this information Yeah, yeah, I I'll let you catch your breath after that. Um, uh, but I just want to reiterate I mean we we we've been you know talking in the webinars recently about just You can trade any way you want Whatever time frame it is or whatever um Because the markets are fractal Or whatever Strategy it is and wherever you have your levels and you're interested in dealing Then look at the order flow Around those levels. It's you know j traders doing the same thing scott's doing the same thing Uh, tom is doing the same thing. We talk about it in the in the advanced webinars as well So this is where you'll get that edge. Uh, and you're just saying this I'm just saying it in a different way uh Scott so uh, uh one thing I really like the way that you were talking about like you have your setups and your rules, uh, but then You're you may flip your thesis. Uh, it will be based on fact though Something happened an event happened and then now you're going to think differently Because of that event, uh, and then you know, that's what you call the science part Uh, and then the art part, uh, is when you Consider how you want to now Enter that and manage it All right trading is so much of what should happen And didn't happen which helps you so you have a you know, you Come in in the morning and you look at your you look at your charts You know, you should always be looking at this stuff. This is you know, just as important Bigger term structure, right? So you're looking at this like me just looking at this right now Tells me what happened yesterday. This is crude Try to break out Hold straight back. Okay, and I put this in my room yesterday afternoon. I said heads up I said this is real close to a failed Breakout in crude, right? So look look where we held we held there and now we're out So markets when they break out They can still pull back to the tops of balance areas. This is a balance area. This is just traders Placing bets some are short some are long when it breaks out The long the shorts have to puke which breaks out this way the lungs have to puke, right? So what should happen when we break out of balance? Is when it pulls back, it should never go more than either the top last line of defense line of the sand is the hive I know that's it if this gets below here, then something's wrong again I'm as a trader. I'm saying I want to be along this market. I want to be along this market Even a pull back here. I want to be along this market. That's my thesis If it gets through here, then I'm like, hmm, okay, well, that's wrong And then you flip your thesis based on what didn't happen So so much of trading is what didn't happen. This should hold and do this which it's still doing, right? But if this turns around and breaks, you're like, well, that should have done this now I'm ready to go short changing my thesis looking for short setups in volume. Boom, and you catch the huge one So, you know trading isn't This is this is such a bullish market. I'm going to buy no matter what I don't care if this does this and gets below this huge You know area of committed traders. I'm going to just keep buying. Yeah, well, you're going to get killed Right. So that's what I'm saying Yeah, you have your thesis. I have my thesis right now too. This is should hold and grip But if this turns around and breaks, I'm not thinking that anymore. I'm thinking, okay Well, now I want to go short. I may even take some losses in the process That's why because guess what once this breaks, you're going to get a huge move down And I'll make that back what I lost on my on my couple longs time times four five or whatever Right. So that's you got to be ready to pivot your thesis And what helps you do that is the volume just like I showed you in nasty That should not you should not have seen a negative Like I keep seeing negative bearish event Right and I may be stuck here without the trade on right. I was waiting for a retest I didn't get up there But we talked about all the reasons right when we got on and why I wanted to Be a buyer here early on and then we get a bearish event Well, that shouldn't happen. So now I'm flipping my I'm flipping my thesis right now. I'm looking For this so I can go short. That's what trading is and you saw last week watch last week I was short crude short crude. We came down to the blue lug. We got a bullish event I turned around and flipped it and I went went long It couldn't get below the blue lug. I got a bullish event until we were to get down to that's what trading is Where you see on the e s you see 46 99 50. This is really upsetting to what I'm looking for This is a Well, what I Again, that's besides the point and you know if it goes right before I got on the web and I can't On any of those Delta equity stuff, but this was an ATR until ATR in there is Looks like there's a little more involved of the day Um, it's 19,300 is that it's been to all 3.8 didn't tag it the next wave up didn't tag it Yeah, so I just I just added that and see what I'm saying. What was the top of the zone? What price was it? 39 Where do we go to about 42 50? That's three and a half cents. That's a full ATR Here's your intense. Well, here's your failure That would have been long right there three cores and ATR and my stock goes three cores and ATR below here And I catch a 20 cent And counting and then what happened new volume of that I could have trailed my stop That was three cores and ATR three cores and ATR below here and I could have added so I would have been added I now would have two positions on and this thing is still going higher So that's upsetting too But the point is for this webinar so you guys learn Cost me money a lot of times because I'm not able to see everything but hopefully you can see why I would have been Long there. All right So once again, what do you see here? What's the number one thing you see here? I don't know this huge band of liquidity right here. I wonder where we're headed So guys girls whoever These are this is the big money the big money gets what they want Period it doesn't always happen right away They run the market so you can sit here and complain all day long how manipulated these markets are and you'd be 100 Correct So do you want to complain or do you want to what's saying if you can't beat them join them? Right so complained you can't make money because the algos because it's manipulated or say Hey, I know what's happening here. They're going to push us right and it's the quit It's probably just happened in the next 30 seconds, right? This is such important information to know when we're down here and you're like, okay, wait a second here You see how long this has been in here and we're down here and you're like, yeah I want to be sure but what that's up there. Oh, I got a bullish signal. Oh, okay. Well, this is my target Okay, right right there right now I know it seems far-fetched like there's no way there's no way, you know, the big money can do that Guys, this is why do I know that because that's what I used to do this used to be me in the yes I put like 2000 here, right? I mean it wouldn't be this far away from it, but You know, it would be like right here and it would come down and I would even sell a couple just to see how the market reacted Right if you're a read that book reminisces of a stock operator There's it's probably the best book ever written on trading and it was written 120 years ago He would do this. He would do the same thing with stocks, right? Like he would sell some to see how the market would react, right? So say I would like we come down here and I'd sell, you know, I could trade at that at that point in my career I could trade 3,000 e-mini S&Ps, right? So I'd sell like 100 see what happens Does the market like panic and start to sell off? No, it would like would hold I'm like, hmm Sell another 100 wouldn't do anything and actually bid up. I'm like, okay Now what I would do then I would start buying expert sells. He has 200 tom frat Hey, look where we're going by then I would start buying and then I would see kind of click up I'm like, okay, then I would just start like railing into like Buying furiously people would jump on my coattails and it would push it right into my 2000 lot and I would be out of my trade That's what's happening all day all day in every market guys. And if you don't if you don't think that's what's happening You're incorrect. What do you think my setups are based off of my setups are my in my course They're based off of my trading experience as a large trader and how I used to react How other people used to react when they'd be when I knew I had him caught because it was like a poker game back Then you can see who you're trading against you can see your counterparty and I would see how people react That's what the setups are based off of they're not hypothetical things, right? So the point is It's it's all a big game But if you know what the game is you can play the game in the same direction and ride their coattails Going straight here and you can hear this tick strike Two monster trades I should have on right now. Yes long and so I mean long Hey Scott, I would you know I was going to mention this Or wanted to mention this like I mean like like last week's webinar You didn't really focus too much on education. You just were focusing on execution You know If you want to do that and I don't want you to miss trades Because then you won't do this you won't come in here So if you want to focus just on execution and like, you know, you can just kind of Uh, I don't know Talk about yeah, atr. I've got it in this webinar here If you want to watch the webinar learn about it and then we're coming in here for execution That's totally I would It would be even preferable, uh, because watching you execute Is a treat. Uh, we don't get that. Uh I've never really seen that And you know, I've been trading a long time. So I would love to see that I think we'd get a lot more out of it and you might be a lot happier yourself So it's considered consideration. That's all Yeah, I mean, listen, I'm I understand my trading is first and foremost, but Most of the time I could teach while I'm trading right and then talk through the problem was this morning when we got on Everything was everything was firing off at one time, you know, I was trying to draw zones. So I missed this long I missed a soybean And that's it's just the way it is. I mean sometimes even when I'm trading on my own, I don't catch everything, right? You know, if I have a problem with it, then I'll just I'll just trade like it's not I just when we started the webinar, that's when all those Events occurred where I should have been long off. Yeah, it is. I really prefer to do that. I'm just doing my usual complaining. That's all Yeah I mean, I I really prefer that because like like just watching you last week and that webinar was was awesome And guys, there's recorded. It's up on our streaming youtube channel there. You'll see it. Um, but uh Very very insightful that There's only a I mean, you just don't see that kind of activity like there's not many traders that do that so, um, yeah Consider that like moving forward just, uh, you know flow of Stream of consciousness and just like going through your your execution. I'm doing this I'm doing that I'm looking over here. I got this. Okay. I got that moving my stop, etc Up to you. Whatever you're comfortable with it's a An alternative if you like to do that. I mean again, I've done hundreds of these for you guys. It's not That's not the issue. I can talk and Or when they walk and chew gum at the same time It's just right when we hop down and we have a problem with the volume and everything else It's just everything went off at one time. So I just miss those trades. It is what it is But it doesn't mean I can't complain about it So this was uh, so the top of this zone was 58 quarter ATR right now is, uh 3.16 We're about let's see what our lugs look like. I don't even know if we're above the yellow lug yet. Gotta be close Yeah, definitely so Technically I should already be along this setup. I suppose let me put this on it just It's a little scary after we've done this kind of move But it doesn't matter. It doesn't matter what you think should happen and what matters what the market's doing and if you don't think This market could go straight here. You're you're sadly mistaken, right? And this would be my target if I get along this setup So I would already be long So I'm going to put it along here if it comes back now. I'm not just going to jump in right here But if this pops off of this zone I'm going to hop in so And 3.16 is the ATR You go to here Later It's happened so two and a half points out of this zone. I will go along this market Four should be good. This the zone is of only two points to now. That's five points And I'm going to risk a couple points below there so I can definitely put on actually I could put on six It's my full size so Two and a half points above here. 58 quarter Uh 60 75 is my entry Actually, we never got and what was that right? 58 Yeah, so we actually never even got there. I so I would not even be in the straight yet. So So if it comes back up there, I'll fill in my expectation Unless I see an opposing and I'll sit in the thing too. That's the other problem traders have They can't sit in trades like they get a little profit and they peel out because they don't they don't want to see this Right guys, you're going to get this all the time. It's especially with algos running the show It's called rotation. It's called algos taking your money They know most traders can't sit through this and you you puke it out and you trail your stop and you get out And then you watch it do that and you're like stewing for the rest of the day that you took three cents out of a market That 130 right so as long as nothing so I will get long this soybean setup as long You know if this moves back up there as long as nothing comes in bearish I'm holding it and that's my expectation And that's what you have to do if you want to make it as a trader If you can't do that you need to work on it And if you continue to take two cents out of your winners three cents out of your winners two points three points And you're risking three five eight You're just Do the room a favor pay pal everybody in the room You're trading account and go find something else to do because you're not going to make period. It's not going to happen That was part of a joke, but the whole thing was not a joke. That's 100 I say it every time you've got to There's just these core rules that you have to follow if you want to make it Right and we've talked about pretty much the main ones today already All right, I'm still waiting for a retest of this zone You know something else comes in then I'll short it on that but this is just doing nothing else I think I missed a career trade as well Of course here, uh, right to be look at that look what we're tagging you guys believe that But I know that was going to happen. Oh, I because they make it happen That's how Big money will get the market to their orders Almost every time so what did I I can't remember what I was looking at here now Just the uh, uh Scott Um Just there's some I was going to go along here. I mean this violated. So this is that zone's done So I was going to go along here remember And this this did this I was going to go along and it just went right through this zone Well, we want a full ATR below the zone. So this buy-in event is done I'm just going to clear out this zone Whatever, sorry No, no, there's just some confusion on that Ludwig webinar the link that you gave us So it happens at the end. It's someone else explaining it. I believe At the one hour and 11 mark and during the webinar. Is that correct? Someone else explaining what the link to the webinar that you gave us for Ludwig levels Yeah Yeah, it's just hurting the one that I and I'll put it back in the room right now But the one The one with her and I it's just her and I oh, okay, just talking back and forth the whole time Okay, so there was another one with one of the traders Yeah, there's gary somebody didn't Pardon me. Yeah, there's gary guy. That's the link that we have or at least um, yeah So if you can if you can put the other one, yeah, put the other one in into the chat That'd be great. The wallet the wallet gary. I mean, he you know He claims he makes money and he has his own he's not using book maps. So right there I even tell him like you you don't you don't have all the information like I say every time That one wasn't I thought that was gonna be really informative and it really wasn't like it was Oh, okay. That's what it is. I had him on and you know, I didn't get that much out of it But you know, you get to see how another trader operates. So yeah, again, it is what it is But I'm gonna put it in here. Let's see if I can Figure out this room voice channel Just don't miss a trade I don't ever complain. Yeah, that and I want to watch you too. Tell me if this comes through the That came in the right room Yeah, yeah, this one this one looks right. Yeah, this is it. Thanks. Thanks Scott That is the one that's going to change your trading life. Watch that It's literally me right. It was like literally a week after I started using the load weight levels and I My questions were awesome like very basic very basic explanation But they were so powerful and then I go over the next seven months and I didn't really do anything with it It is what it is. Again, I've said that like 20 times a day, but Again the beginning middle middle of january I I rewatched it. I don't even know what spur me to watch them. Like what am I doing? Like I'm not using these things anywhere near what they are, you know, how they are You know For how powerful they are. I was just using them for target support resistance of the blooming red lock When you you can when you watch the video and you're gonna see she's you know, she starts out by saying I remember correctly You know We should have gotten to a log We should have tagged the red log and now we're it didn't now we're back below yellow expectations blue So again, something that should have happened and didn't happen I mean, it is a really really good webinar and it's very basic again My trading is nothing. There's nothing very, you know, I I tech about it, right? It's just it's common sense and again, and then that's how I make money The dump the the simpler I don't want to say dumber the simpler you can make your trading the better you're gonna do The more crap you have on your screen the worse you're gonna do because you can't make decisions And even when you're in a trade then you're and then you have a counter you're like you're on counter area Oh, well, this is a this looks like a short area here. I don't know. I need to get out, right I have very few things I use in my trading Go over them quickly Obviously book map A side indicator number one by far Even even she admits in the video That you cannot trade these levels these things in a vacuum. You've got to have You know other other things that you look at to help you make better decisions, right? Because again, how are you gonna so okay? We got it. We've got above the yellow here expectations red So I just go along here and and and then risk all the way down like you see what I'm saying You need more and that's what the volume hopes you do, right? So Ludwig levels. Well, number one book map Ludwig levels What else do I use? I will look at E-wap Obviously, everyone looks at the web standard deviation to be very powerful Especially when you could put them at a at a Ludwig level Like if we were to rip up here and we get to the yellow lug and we're at three standard deviation That's all these bands are so this is all the daily value area This is one standard deviation from V-wap one and a half two and you can even put more on here So that would be so say we just pop up here right now That would be three standard deviations from V-wap at a yellow lug that is and then you get a volume signal That's like a gift like you're you're it's going it's not going it's not going to do that very Like I would bet huge money, right 99 of the time It'll it'll react off off there to the downside if your volume signals bears So I'll use V-wap Um book map level levels V-wap and then what else do I look at? I look at market profile Right and composite value areas composite value areas are when days merge Um Let's find you a good example here. This is one of the reasons I was looking at along and has that earlier too Let's see. It was crude. I think Yeah So this was So this is how I do this right? This is a huge composite Value area look how perfect this looks right now watch when I separate the days Look at that look how many so the way you merge them is if So here's like the first day this started right So if the next day the value area At least 50 of this value area, which is 70 of the trade occurred in that day Is inside the prior area and then you merge it and that's a composite that'd be a two-day composite This is like a five day. So it's even more powerful To emerge that Sorry scott. Um, just uh, want to uh User saying You know es is retracing a bit to the 45 20. Maybe there's a chance to still get along Um As we enter the european close. So I just wanted to get that out since it's uh, we got some eyes on other markets here Yeah, that's fine. I mean, you'll hear when a volume event goes off I don't trade unless I get a volume of that So I don't care what's closing what's opening what the news is If I don't get a volume event then I just sit there and and I wait So bottom line is this is why this is a major major value area Right in line with the balance area. It's the same thing, right? It's just looking at it a different way. What are we doing? We're busting out of it Remember what I said how we So this is today's trade What did we do yesterday? We just talked about this a little bit. We pulled back Ready to break out yesterday pulled back held the high volume node now. We're ripping this looks like it's going to $100 Basically, what do you see here the same thing? Pulled back the expectation when this thing is in In the value area because it got out of here overnight I think is to get back to the bottom. Well, that's not just like the level levels What didn't happen gives you a heads up something wrong and then get down here And then now we just launched out of here this thing's going much higher Or it should if something happens and it gets back inside this value area and you're like, hmm, that's not right Okay, I'm looking to go short. But right now I'm looking for longs Right of the yellow log breaking out of this. We held that high volume node any long signals I will belong and that's my first target delete this why this was the latest volume of that Right We just got an ATR below there. So now what am I looking to do? So I was going to go along But what what should have happened? We should not have had a bearish setup So that's telling me, okay, this move is probably over Now I'm willing to short it Right So we came up here here's the event This should have held And then that why why did that not help? We're still above the yellow So I'll wait for Rita's failure of that setup Yeah, I was thinking this should happen Until I was proven otherwise Bearish setup Here's your ATR If we retest fail, I'm going to go short See we're just retesting this first zone this major zone and I it's almost I would say a hundred percent that we're going to bounce off here and at least retest this But I will go short If this goes like this and goes right through here, well, I'm not going to go short I need to see retest of the bottom of the zone or the zone Failure and then I'll go short And now I'm in short watch you see how quickly I switched I had a buy order in there and I switched to Actually going short All right, let's see what I'm missing here in gold There's some real screw traders in this thing all these guys that piled in on those cells Was I working out? So we had this stop run here Again, they just look how look how perfectly it's every time This is again. I miss this one too, but just look at this. It's just guys. This is This is it. See how we tested this exact time of the zone. Come on. Been long that too I should have been long that aggressively because we're above the O log and this is the target So I would have been long this three quarters of an ATR my ATR Is 24 Right around 15 ticks ish I would have been long The setup that's the stop run. This is called a stop and hold. So this is what I'm talking about Nasdaq we saw dumb and dumber We saw the stop run puke and there was no big money to push it and it failed This one is a call to stop and hold one of my six subs now we have a sixth one called step brothers Where this was a stop run and in hell I would have been in three quarters an ATR and you even got the retest failure That's even better as things going straight to that red lug Unless something bearish comes in in the volume. If not, you sit through this trade and watch it go right to the red lug and and potentially higher So crude at least I'm not I mean, I knew we were going to tell you this liquidity, but there was no setup, right? There was a There was a setup here, but then we got an ATR below here. I just deleted this So I was going to get long and then I canceled it and there was just nothing here to get long Sometimes that happens Why you want multiple markets if one market sucks or you miss a trade then you key on another market Watch that because that's upsetting me too Keep this here just so I can get water boarded all these things waterboarding because Like tags you have all your senses, especially when you're losing you get to watch it and you get to hear it. It's not fun I always say in my room and waterboarding can't be much worse than Watching and listening to the to the pain All right, so let's just check out these lugs. You always want to just keep an eye on these that you know See what's happening. What shouldn't happen? What didn't happen? This was a prior uh, this was a prior composite And see we failed out of that and now we're back in here. So to be interesting if it holds or fails again So we're still below the other log nothing really happened. It's just bouncing around daily value area Daily value area again is one standard deviation from vweb I still think we're gonna do that by the end of the day because of That love a short signal. How about a rip up here at these spot gamma levels get a short signal That would be right at near that yellow lug and then watch it just get pummeled into the close Right, that would be right here 45 75 is the yellow lug Where are these spot gamma levels a little above there? This would just be this would be glorious You can get up here run up here Get a short signal and then hit this at the close. That's what I think is going to happen. So we'll see It doesn't mean I just throw in a short right now. I need to see a volume set up a bearish volume set them then I'll go short all right, um so beans Did not retest that known yet. I will go short this black zone for retest fails. If not, I'm still I'm looking for a new setup Nothing's firing off. Let's look at see if anything happened in natural gas. This thing's been nutty lately What do you see here? You can use 150 200 natural gas 200 it's probably safer and what's this 200? All right, so let's just hypothetically Draw this and say what we would have done make sure you incorporate all the prices in the spike MQ stop stop by NQ 171 contracts come back there and just put real time see if I can put on a trade I haven't even put on a trade yet How's that live trading webinar going? All right, so yeah That's 144 that was close. You had 4 490 swipes sweeps Some 170 definitely draw that Because there hasn't been basically anything today, right? So We could talk about all the time you got a judge right my thresholds 150 But if you see 200 300 200 300 don't be using 150 for the day up your up your threshold for the day This is definitely enough because this is all we've seen And this is like we haven't had any signals in here since we've been waiting for the retest of that zone So I was waiting for a retest of this zone to get short and well now here's a new volume event, right? So there's the zone. It's the next step Check out the lugs We're still above the yellow and where do we hold right? This is still Olish I was willing to go short because there was a better set up and now we had a new event So I'll still go along why while we drew new lugs We should have held prior red yellow and headed down Didn't held yellow held yellow now. We're back here. This turns into a bullshit man. That's my target But I do know that there's liquidity all below here too. So It doesn't mean I won't go along right like I keep that in the back of my mind Especially if I get short then I'll use those as targets But it doesn't mean I won't go along right now. It doesn't mean it has to happen right now, right the Travel to the liquid. So once again Why Is this failing? Why is there a stop run and paper doesn't come up? And like we just saw in gold why aren't they not just stepping in and pushing this higher? Yeah, we get an ATR retest fail. I will short this zone now This is now out. This setup is now done. I was gonna go short off of this zone because we have a new occurrence Right So what's the next step? Find your ATR Here's my chart 42 42.13 Let me go to the handy dandy ATR 3632 so Just because we're above the yellow log I have to wait for a full ATR retest failure So full 42 points retest failure. I'll get it. I'll get shorted 31 points and then my setup goes 31 points above that So the bottom of the zone is 97 50 I need to see 58 It's 750 2650 and that'd be 41 points below here if this Doesn't go full ATR and gets three quarters an ATR above here. I will go along aggressively. Why because we're above the yellow log be Let's say 31 points 31.59 so just say 32 That puts me at 37.75 That's where I will go along this market So this is an example of that's my standard how I trade these right, but you see this zone I don't want to I don't want to go along right in the middle of the zone and right at a spot game level So I will push it up just a few points You know, it's eight points. That's nothing in here just above there. So instead of 37 I'll go I'll get along 45 right because I don't want I don't want to fill right in the middle of a zone That could reject especially the spot game level there. So if it gets up to here, then I'll go along aggressive. This is my aggressive entry I still think this is gonna sell off. So we'll see And I think something it doesn't mean anything right? It's like, I mean, yeah I've experienced and I think something should happen But I don't just sit there and keep Shorting this if this turns into a bull signal. I'm not shorting just because I think something should happen This is telling me. Okay. It's not ready to sell off yet. So I'll go along So we wait for that to see these texts and I think it's gonna be attic trying to scroll back any questions first Uh, no, no, I think I've answered the questions here So here's another thing you want to keep an eye on too, right? This has been the last three days. It has been pathetic And that's why I didn't even do a PM webinar history in my room because you're just asking for trouble Right. So when you look at this, this is Sierra chart. There's other platforms that have the same thing obviously You look at relative volume, right? So you want to keep an eye on So what this is showing you down here is the volume Based on this exact five minute period. So like right now is 10 20 Central So this is telling you is the volume normal for the last as it's been the last 30 days, right? You can see Volume is getting pathetic again I'll show you some examples here how sad this has been. So this is I mean as it looks the same So you can see we had some spikes in volume right at the open. This is where you get that move up where I Missed the trade missed the long right. There was some good volume and when you get good volume Whatever way this break you could draw zones based on this stuff, right? Because this is where there's committed traders. So see where that started So you can see we tried to break down under there Obviously, there were some aggressive sellers or wouldn't have gone down, right? Guess what? There were responsive buyers willing to take those orders Doesn't mean you just hop in long or short you wait just like we do with the zones, right? You can use this the exact same this is same principle, right? Whatever way this breaks is going to be Probably the first big move, right? So this would have broken lower all these responsive buyers that bought here If you come out If it breaks higher all these sellers that were aggressive you come out So that's really good to watch just for that aspect When you want to watch this is when you start seeing this thing you get to Like literally the last three days. It's been like Even into the afternoon 50 percent 40 percent 60 percent It's like you do not want to be trading in a market with 40 percent normal volume because you will get algoed to death My exact phrase yesterday was not doing a pm webinar And then I said a little because you're just opening yourself up that trade So, you know, if I don't have the trading room, there's not even a question. I look at that volume Like I'm going to hit some golf balls. I'm not going to sit here and be algoed to death But I said it was algoerific because when you see this It's it would behoove you to get away from the screens for a while You can see that I mean we'll even look at it in the last couple days And if you've been struggling the last couple days getting chopped up That's the reason like I haven't done while the last couple days Because there's no follow through because there's no volume. There's no volume. It's just going to chop Right, you got algos just whipping it back and forth. The only time it follows through is when there's big volume coming in This was this was yesterday But look at look at this look at the if you got chopped up yesterday Here's why look at this volume. This is like 30 percent. Wow. Look at that. I wonder why you did that Oh, yeah, of course when uh, or was this two days ago? I think this was two days ago. This was yesterday This was two one This was um, tuesday And when the market closes then then then you get volume coming in joke And then yesterday same stuff. We'll show you what I saw when I said, yeah, I'm not trading this guys. Sorry And nothing literally nothing happened right at the close it happened and that's when I shorted that NASDAQ See here Look look at this So if you're losing last couple days You don't start trade changing your trading style. You can come back and say wait a minute This was yeah, that's not what you're looking for Right and try to break out and just got chopped up again And then of course here's the close. Here's a huge volume earnings We got a reporter yesterday There's a couple of them and then you get the big volume and then you get the extended move This is a perfect example when you have algos and no volume you get chopped to pieces when you have big volume You get trending markets Okay, so you could even say I'm not going to participate in the market unless I see at least Definitely at least one times normal with 100 which is just normal at least two or three times and then then I'll participate You do so much better and you wouldn't get out of the death. Trust me so same situation here See that and then you see that that's why that's happening This is your algos running you back and forth right running traders back and forth racket Paper no big money in the area If you start and what this is great, too If you see this right it's just doing this this all of a sudden it happens all the time And it would be right in the middle of a balance area You know that look like it's just doing this and all of a sudden you'll see like one of these You'll be like, hmm and lo and behold within five ten minutes you get your big move. It's on candy You guys got to have this up as well Oh And if you see this get up off the screens come back in the afternoon. I used to literally I was scalping. I used to go home. I lived right there. It was this downtown, Chicago. I used to Because I got beat up so many times after 10 30 from 10 30 to 12 30 12 31 o'clock. I'm just like, you know what I'm not trading. Oh my god, no, I didn't miss this Okay, I mean I missed it, but I didn't miss it remember. I wanted to wait for ATR retest failure It just didn't retest Don't worry. There'll be another signal and we're like I said, I have been we're going in this liquidity So this is now invalidated as a long setup, right? I was willing to take this three quarters in ATR who we just got a full ATR below here Now this is a stress up. This is cancelled So once again now you've seen it twice This is information For you for the rest of the day two different times You have had by stop runs the other one was over here That failed there's another one. So where's the big money at? If the big money wants to buy why are they not jumping on the coattails of these stop runs? Something's up Something's up and you see where the big money is Down here waiting where they're fills All the way down here So get ready That's the second occurrence Doesn't mean you just jump in a short but you put that in the back of your mouth and go, okay interesting Low volume first and foremost Two stop runs no one pushed it up higher. I know papers below How you're like now you're like we could say it all the time. You're like a sniper, right? You're just sitting there waiting waiting waiting you get your I mean this could be it right here if this retest fails I'll go short Say it's something else happens and we get below the yellow lug you where you can get short aggressively Boom and you're waiting for that Who wants to bet me we get down here today at least this first ban on liquidity I bet someone around the Gulf Next time you come to Arizona We've done this before and I win every time I make this bet. So think wisely before you before you place the wager I'm betting you at some point today I should say after the close too because the earnings are coming in and they probably know what their earnings are I know that would never happen. Um I'll I'll even say I won't even use after the close. I will say regular trading hours I will bet somebody who want to bet around a golf that we tag at least this this one It's pretty that's 200 points away. Someone better take me up on it. I say we tag that before Make this fair. So let's look at the red lug Gold ice TC 151 contracts red lugs up here So that's about 200 it's a little more than 200 points, but I will bet you we go and tag that liquidity down here There was a 14 5 Before we get to this target here I won't even go red lug. I'll go this target this orange thing I want to bet round the golf I will find you if you make the bet and lose I will come to your home state And drag you to Arizona to pay for my golf So let me know let me know if there are any bets first. All right gold just new occurrence. No takers. No takers No takers guys will learn another lesson. What was that one dude? I can't remember his name There was someone someone who took it a year ago when you said something like this Oh, this happened that this was like a few months ago. You gotta took it and we hit it before I even got off the webinar Or like right when I was getting off we hit it All right, so this is not This is not threshold and gold. Maybe you have two different bets here. Let's see This is 86. This is 103 in the same area. You can draw this one. Yeah, see This was great about another incredible edge. This was one house I got filled on partial And then it got the rest off 200 by ice right here. That's one entity That's good information. Is it not People snoring at bar charts know that you sure don't Let's get this Other zone Things where are we on the lugs? I'm above the yellow. I know that see how close we are to the blue I mean the red so this is the issue, right? I will not go long in this setup Because we're so close and I know how powerful these are, right? So I would wait, you know, this could easily draw new lugs, right? I like this drew to the downside But I will wait for it to draw new lugs and then wait for my bullish setup I'm not going to go long right before the red luck. It's not going to happen And actually if this if this setup fails in the downside, I will go short because we're so close to that look It's the only time I'm aggressive Above the yellow lug on shorts Is if it's right at the red lug? We're pretty close, right? So this could easily stay within this atr tag the right. We just tagged the red lug right there, right? So now what I'm going to do if this this could continue higher, but if this turns around Am I doing here? It sells three cores in atr below here. I'm going to short it I'm aggressively shorting it because we're at the red lug. The red lug is right here Here's your volume setup It should push through and build new lugs. If it doesn't, it's telling me something's up. I'll go short ATR 22.3 22.6 0.6 So we get 17 ticks below here. I'm shorting this market 63 43 47 If this holds and rips up, well, then we're most likely going to build new lugs and then I'll look for longs I'll look for long setups in the volume That's it. That's my trick Um Scott any any reason yeah, any reason for the the five minute ATRs compared to like maybe 15 minutes or Well, I just I just because the longer time you go the bigger there's the bigger the atr, right? So it's like Don't use one minute. That's too close to one or two minutes. I mean this is you know, that's too You know Small of a time frame in my opinion. I just this is just the best time frame for day traders is in my in my opinion I mean you look at the difference. So Eight eight points for the five minute if I go hourly It's 20 it's 26 points Which is it actually isn't even bad and we had five minutes at 26 points just last week but No, the longer you go out the bigger you have to you know the bigger time we're day traders, right? You know, I'm looking for you know I don't want to be risking 50 60 points on trades and this just captures their Five minute captures the shorter time frame volatility, right and we're day traders So that's why I use five minutes. You may say I like two minute. You may say I like 15 minute And this is how I trade it and this is default like I haven't changed anything. This is the wilders You can google what wilders is this I didn't change this either. This is looking back 14 14 five minute periods All right, I haven't changed anything. I don't I don't need to change anything Right, you get all these traders that like try to tweak everything and it's like I don't need that I just need the basic information. I make it as simple as possible and then I trade Right, don't be concerned like I have one guy in my room like I was just uh, you know, I don't like to bash Triggers, but I just couldn't get it man. I had I had like a mentoring session with him too and he just was like so Well, what about doing a um Moving average on the atr times blah blah blah. It's like dude. You don't need to do all that like just just The simpler you can make this the better you're gonna do like he just was so detailed like Well, what if you look at the atr over a you know, 40 day period and then you take this with this moving average Guy just take the five minute atr Take your volume setups and trade that that's what you need to do And the guy didn't make it that's again the more complicated you make your trading the worst you're gonna do This is all you need Again, this is all you need period you can still make money Trading these setups you can add one more thing, you know, that's really powerful Again, I use public levels. It's nothing more powerful that I've seen But if you like using vwap or Now bones your bands or whatever you want to do just make sure you don't have 55 things on the chart That's it If you use one thing and volume great You still have an edge Right if you have an edge just with the volume you can add one more thing and like vwap or whatever I happen to use these because And the guy that showed me these Told me for eight months how ridiculously powerful they were. I'm like, yeah, whatever, whatever And he sends me a I've met her a few times like on the book map stuff Then he sends me a text Yeah, it was like last march or last february. He's like I'm killing it now. I mean one point I'm up 1.2 million dollars in the last two months trading trading these level levels with the with the book map volume I'm like, hmm that got my interest and then I talked to him and He explained it to me and I'm like, okay, I'll watch him and then that was you know back in It literally took me eight months to even put these on my on my chart And then I started watching like interesting that I got on that webinar that I just posted with Pamela Ludwig Well, explained it to me and I still wasn't used by ES 745 compress. I still wasn't used into full effect and again watch the webinar I'm gonna see what I mean and then now now it's starting to really everything's starting to really click using those things So you can go to her website. She has a three day free trial tell her you saw the book map webinar using them She'll have something for you like add a product free product or something because you I think you get four products members of my room get six and grandfather pricing so there there's a perks to you know Say you saw it on the webinar is what I'm saying but if you don't You think they don't work then don't use them use something else But I can tell you the number one thing if you're not using it, then you're you're not Getting all the information is that I All right, so let's just do this lesson I was going to hop off and every time I go to get off these webinars something happens every single time Just just a quick quick note for everybody. I'm scott There there is a scott pulsini room a text room Hashtag scott dash pulsini here in in our the book map discord chat room You can find the Lud Ludwig I'm gonna I'm gonna list it there as well this webinar. All right, so just so if you guys need the resources there All right, so I see the chat right now A Ludwig level is very expensive. It's like a hunt. What does she charge like 150 bucks a month or something for four markets? This is what I tell you guys all the time like when we're talking about global Global versus global plus and book map and all all you get for global plus For extra 40 bucks a month and again, I'm not selling anything right I'm not even selling levels levels if you don't want to use them don't use them If you I'm all for saving every dollar you can on stuff like that's why I use thinkorswim This is nothing you put in some money and thinkorswim pull it out You can have access to all this wherever you wherever I can cut costs I've learned over the years to cut costs But if you're bemoaning using you know paying for level of levels or global plus Something that is so powerful when you're trading for you know 150 bucks a month or 40 bucks a month Well, then you shouldn't be trading as it is right that means you don't have the funds to be trading Right now. So that's how you have to look at it like I'm all for cutting costs, but we're talking about the power of these things Or what you could what is 150 bucks at a point and a half on our two points on a On a one lot. I mean, it's like you gotta Just you know put things in perspective is what I'm saying If you don't want to if you don't want to spend the money then don't spend the money then trade the trade book map by itself You can make money doing that But again, if you're complaining about nickels and dimes In the grand scheme of things you shouldn't be trading anyway, right? And I'm all for cutting costs all right, so this is the latest setup ATR is still elevated. We're at 8.07 I'm gonna do this one that I'm not buff my head's starting hurt and I'm going off in the day So I can get away from these markets, especially after the last few days trade 6.05 is the ATR. So we'll say six and a quarter about three quarters of an ATR. All right, so I already know we're below the yellow lug, right? But we'll take one more look at this Below the yellow lug. We know all those the quantities down there. I have a very Educated guess. This is where we're headed based on that liquidity as well And we should anyway based on the lug lug wig setups, right? So What am I going to do here? I'm going to short this Six and a quarter points, which is three quarters of an ATR. That's the aggressive entry So I will go short this at 08 quarter That'd be good too because I'm below all right, maybe not now that's right in the middle of that zone But that's fine I'm not going to move it all the way down the 04 quarter like if I was a good point or two then I would I put it below the zone, but this is where I'm getting that naturally if it breaks That's three quarters an ATR, and I'm being aggressive. I'm not waiting for Full ATR retest failure because we're below the yellow lug, right? Once again Who wants to bet? I bet you that's where we're headed If not lower I think we're coming. I think we'll fold both these today. So we'll see If this turns out. Now, what do I need to see on the on the bullish side? Well, I need to see full ATR eight points retest failure six points and I'll go long Because you shouldn't see a bullish setup right now You should only be seeing bear setups if something bullish comes in it just tells you it's not ready for a sell-off It doesn't we can still pop all the way back up here Okay, hopefully that is clear. I've said it about 40 times today See we're right at daily barrier area low could definitely just bounce from here too, but if this gets below here I think this is where we're at That blue lug is 86 50 That liquidity. Hey, look at that right at the same area That's my expectation if we So say we start to sell off say I get short and we hit this and we struggle Well, I'll get out of a couple if it can't just plow right through this liquidity and I see so I see red red red Say it takes it out red bubble red bubble red bubble and I pass back above. Well, I'll get out I'll take like one or two off That's that's a reason to get out not because you you like your P&L All right, use reasons to get out As your targets and not your P&L All right, so I'm set up for that. I'm set up to short gold as long as this doesn't get any tier above here And I think I was gonna do some of the soybeans. I was gonna short it I don't think I have an order in there though Send peace tops top sell ES 526 contrasts. Okay, so it's gonna get off first Just get out to get out the webinar Every time I think I'm out Pull me back in movie That's the exact movie too Yeah, uh part two of uh the godfather wrong Damn Part one father three three or three When he tried to get out I keep michael curlio wanted to get out. I thought you said you hated part three It did doesn't mean I can't quote it Okay All right, so this was uh, this is threshold. So I got to draw this Draw this um So this was not threshold ice. There's only 277. So let's just draw the stop run And that's what's great about the sweeps. Again, you get that in global plus That's worth its weight right there worth the cost in my opinion. Did you just get these sweeps? Um, so you got the stop run right there So what I should do here is change my stop my sell stop to three quarters of an atr below this zone It's pretty close All right, so that would be six points below here. That would be 650 I'll just leave this where it's at based on this first one All right And that's not really following my exact rules because this is the newest setup, right? But I'm only I again I don't want to miss this move down I wouldn't miss it, but it's gonna cost me a few more points. So I'll just get in here But if you're going by the newest zone, which you should be especially if you're just learning this stuff Then you should be six points below this zone as the aggressive entry which puts you at 06 versus 08 Two points here. I'll just follow my rules here Because then I can't complain if it pops up and then I'll say well, I should have just done this. There we go So that's based on this new setup if this fills I go three quarters in atr above this zone right, so I go I'm sorry. No, it's yeah six points So I'm gonna stop at 21 If both these hold What do I need to see so this could be a dumb and dumber? Right dumb dumb money puke. No follow-through. I need to see full atr So eight points eight and a quarter points retest failure. I'll get in and I'm going along Again, you should I have an expectation of thesis of what should happen here I think we should sell off based on the levels and everything we talked about You shouldn't see a bullish event if you do is just telling you something's up It's not ready to go yet and I'll go along and I'll look for a move up here And hopefully get it short and then ride it back now That's day trading guys. That's what happens You have to be able to ready to flip and that's what the volume allows you to do If you're just if you're just trading off charts or even lovely levels, right? That's why love with levels on their own are not enough in my opinion, right? Good. What are you doing here? You're going short. Okay, so where are you stopping up here? Okay, good luck risking 40 points Right or you can stop above here I mean, that's what that the volume allows you to do. You can really judge You know, and you don't have to be risking all the way up here. You risk based on the setups All right. I'm out of gas Long week this week all that crappy trade I'm golfing and relaxing um I'll watch us for like another minute see if we go fill that down there It's got what percent of the normal SI alerts to use for your SI alert levels to use No, there. Yeah, that's part of the course. I've got 21 mark 22 markets in there All the thresholds are 22 markets. I'm in the process of making a new course too You know, I made that course almost two years ago. I mean, it's still relevant. All the thresholds are pretty much right on Um, but like back then they didn't have reset mode. They only had exponential exponential It's still the same stuff. It's just I want to make a more current one and you know You guys that have bought the the older one will be a deep deep discount if you get the new one because It's not it's going to be it's going to be yeah, it's going to be some of the same setups But I added a new setup and I'm also I think going to put in that course. I have a webinar I did on The actionable zones so you know when you look at my When you look at my I haven't drawn any recently in crude or anything But when you look at these and the stuff from before but you know, there's four Very important areas and like bar chart trading that you want to pay attention to too So I think I'm going to throw that in as a bonus, but I still got to make it. I just been so busy But I definitely want to do that for you guys because I want to be current and then I also want to show current settings, right? Like there's so many new things now with the new with the new Now it's called sub chart and you know, they have all these other things in here But you can see I'm reset mode So I mean you can see these are the thresholds for the essays This is literally the same exact same as the course two year year and a half ago or whatever I already made that 500 stop runs 700 ice 10 seconds for stops 60 seconds for ice And you want to make sure this this is the voice stuff Is in line with this so you don't want this what guys do all the time. It's very easy to do You don't want this to be set at a minute and then you have your stop alerts set at 10 seconds And you'll hear the stop alert fire off But then you'll look at your chart and you'll see this huge amount and you're like, well, wait a minute Why is that not they this only right off 300 and I'm seeing 900 stops What's because you have this set at a minute you got to make sure this matches this Right. This is the sub chart This is the voice make sure this stuff matches this As far as the time component Tier above here. We did not All right, so again, I will short this one as long as we don't get an atr above this last zone drawn We do I'll I'll take a retest failure If not, I'm shorting this aggressively and I'm going to watch the free fall to the Waiting hands of the paper that always gets their way. All right. Unless there's any other questions. I am over and out Yeah, sounds good. Scott. Thank you so much hour and 45 minutes And guys, I'll put this webinar up on the streaming recordings on our youtube channel if you want to review it Um and a bunch of links in here, etc in the chat. So if you also want to review those. So, uh, yeah, thanks scott Yep, thanks for having me. Um, no trades today. That's actually pretty rare, but Hopefully I mean I've been talking the whole time. So there's obviously stuff to learn and that's the whole idea these webinars anyway, so Um, again, if you want to see live the live trades the last couple last I I don't want to jinx it, but I can't remember the last webinar I had in here That actually was a losing webinar They're losing day I literally can't remember it. So go back and watch the last hour of a you'll see even if they're losing days It doesn't matter. You're gonna have losing days. My point is there's really good lessons like last week. It was like Winter and nasdaq winter and crude winter and gold whatever else I was trading So go back and watch those prior webinars if you want to see some live trades or come to my trade room And I do this same thing every day twice a day most days except for thursdays because I go golf in the afternoon By doing our webinar at the open and our webinar at the close Unless it's horrific trade like it was yesterday and then nobody should be trading because you're just giving your money to the elbows All right guys, I will see you next thursday. Thanks Bruce. All right. Thanks Scott. Have a good weekend Me too. Thanks. Bye