 Morning, traders, welcome to the Traders Lab. I'm your host, Tom B. Thanks for stopping by. Can I please get a screen and audio check and also look? How we do it in YouTube? You guys able to hear me over there? Can I get a audio check in YouTube? I'm having problems. Let's try this again. Trying to check and see if I've got things working right. Guys, thanks for visiting the Trader Lab. I'm your host, Tom B. I've had internet today. I've been going up and down quite a bit. I've got the holes in my data. So please be aware. If I drop down, I will try to reconnect in YouTube. That is a tenuous proposition. We will try to restart and reconnect. I have BookMap support on the line. You might say trying to keep things helpful. Thank you, BookMap. Also in the BookMap Discord Trader Lab, if I drop out, eventually when the internet comes back and it seems to come back, it takes a couple of minutes for me to reestablish all the connections. So everything has to resync. But I should be able to get back into Discord. YouTube is another issue. If you are in YouTube, thanks for stopping by today. We've got a lot to talk about. However, if I do drop out, there is a link in the bottom of YouTube. You can come to the BookMap Discord Trader Lab. You don't have to be a BookMap subscriber. BookMap will never solicit you. So you have that option always open to you. So hopefully we won't have too much trouble today. It's just kind of like what's going on. So in Costa Rica, which is where I am, sometimes the wind blows to the left. Or the monkeys are out running around, which they do not blame in the monkeys, but you've got to blame somebody. Sometimes it's just, hey, it's Costa Rica. So anyway, let's get started. Thanks again for visiting the Trader Lab. I'm your host, Tom B. General disclosure, all BookMap limited materials, information and presentations are for educational purposes only and should not be considered specific investment advice or recommendations. Risk disclosure, trading futures, equities and digital currencies involves substantial risk of loss. And it's not suitable for all investors. Past performance is not necessarily indicative of future results. Please remember, this is not a trade calling room. This is about integrating BookMap order flow tools with auction market theory using the volume profile in the intraday developing timeframe using a top-down bottom-up approach. Top-down being higher timeframe, very much like Matrushka dolls or those Russian dolls where one is inside the other. You can call that timeframe integration or you might call it fractals. I don't use time. I just use behavior. So it's the Russian doll. What creates behaviors in all timeframes? Well, it's all the same. And as you go down in timeframe, you are operating in a bit more noise. But if you can create alignment in, as you guys think, multiple timeframes or as I kind of define it, fractals, the smallest timeframes really become potentially triggering structures. And that's what the 60 PDFs that are available to all of you in the BookMap Discord Trader Lab chat are about structured trades that you can reverse engineer and then you can kind of see, can you develop something? Now, here's the other part of trading. I always have to start with this because we have new visitors. Thanks for stopping the trade by the Trader Lab. The market is not a prediction business. And I know, I certainly know we all wanna know. We want certainty. And it's the nature of our psychology and our emotional wiring. We are fearful of things not working. Well, because of the pain of loss, the pain of losing dollars. And because of those things, and how about the pain of being eaten by the saber toothed tiger, the pain that causes us to operate with certain beliefs. Now those beliefs might be appropriate in the world we live in. We do not live in the gaming environment. Casinos live in the gaming environment. How have they adjusted to the environment they live in? Well, let's talk about their environment. Then you might understand our environment. Our environment is one of randomness, not predictability. We are all seeking prediction to avoid the pain, whether it's the saber toothed tiger or whatever it might be. Not being mride, not getting approval. Whether it's family, spouse or ourselves. The need to know. The need to avoid risk, et cetera, et cetera, et cetera. Yet, in the gaming business, we have to run into the fire, not away from it. We're wired to run away from the fire, right? So how do casinos operate and have a profitable enterprise? They understand the business there, number one. Number two, they run in and accept risk every day. They understand that they're in a random environment. The cards coming out of the deck are random. The gamblers play the cards randomly. What do the casinos understand that we don't? They understand the outcome is random and that they have to have an anchored input to play the game in order to extract their edge, which over a large sample size of random interaction with the gamblers gets them a yield because the dollars flow to the house. Why can't we do that? Because it's not in our nature. Can we do it? If you understand the business of trading, you might be able to do it. The Trader Lab is a community of like-minded traders looking to understand market mechanics, how it works, why it might do at times certain things and how you might get in alignment with it and then derive statistical edge so you can operate in a random environment. So you can manage your fear in emotions because you have something tangible. What is tangible? The edge. When does it show up? Random. Can you live with that? That's what it takes to be a professional in this business. And it's not easy because we're pushing back against our wiring and I hope that makes sense. Please grab a pen and paper, take some notes. Now let's talk about yesterday very briefly. What happened yesterday? Well, we were in mean reversion, two-sided trading outside in, that's called mean reversion and we had what was called a neutral day. That means the first hour high and low was taken out. Now it's important because outside in trading and that's what we were doing in the stream if you guys remember. Then we had a substantial news event came out around 12 noon and one of our participants in the Trader Lab and we all knew there was an important news coming up between FOMC tomorrow and yesterday and that was how is the Fed going to be funding? What are they gonna be doing? Short-term maturities, long-term maturities, are they gonna monetize this? What are they doing? How are they gonna do it? How's that gonna impact banking? How's it gonna impact the value of the dollar? That was a major event. And what happened? We had what was called a neutral extreme day. News came into the market and that changed the perception of value and we had an explosive move to the upside. What was a neutral two-sided mean reversion day turned into a trend day. In other words, a breakout and a change in behavior. So I wasn't here to narrate it in the Trader Lab. If you have structured trades for that you could have gotten long. Some of our participants did. I was done with my narration at that point and you could always go back and look at the structured trades that you can download in the Trader Lab. You can see them, so that brings us today. What happens today? Typically, after a neutral extreme day, especially because we broke out of a consolidation in the higher timeframe, which I showed you guys yesterday so if you follow the stream, you've seen all this, then you know that we have the potential for continuation. This is a big deal. So let's take a look. Now, this is gonna be the RTH open. Now, let's look at the lay of the land. Yesterday, the highest retail volume, this is called the naked volume point of control, retail, okay? This is where the highest volume took place yesterday at the high of the day. That suggests, and that was after the breakout, that suggests potential continuation today. And of course, nobody knows. So don't worry about knowing because nobody knows anything. It's always random. Write that down. ETH high, potential target. ETH low, potential target. This is also a potential target. So we start with that. Now, what is going to happen? Oh, there's one other thing. In the ETH down there, let me show you this. This is the full session volume profile. Now, what is a volume profile? It's very simple. It's not an indicator. Like we think of indicators as retail traders. It is volume and price. And the way you might think about this is shopping. Shopping is very simple, isn't it? You guys go to the store you're already experienced. You're just trading maybe a can of tuna. You didn't know that, did you? Well, high volume is retail. And what the market tends to do is auction. This is what auction market theory is. And forget the term theory. Let's just call it the shopping experience. If the price becomes too high, you'll notice the volume dries up. So there's buyers up here as prices going higher, but there's less. So we can see that too high. If the price now is down here and the volume dries up, it's too low. Now, logically you would think, well, if it's on sale, we get a lot of buyers, right? Well, not really, because it doesn't stay on sale. So when it gets too low and the buyers are down here, but we run out of sellers, the sellers then start raising the price and the volume starts going up until we get back to retail. So too high, too low, too high, too low. If we leave that behind, now this is ETH, and we start the process up here. Too high, too low, too high, too low. New retail price. It is suggesting, and I'm gonna use the term potentially and write that down. Maybe this is too low. So what divides consolidations? Or shopping, if you will. Low volume nodes. The low volume was too high and too low, right? Retail. Buy stops are above outside edges, sell stops are under here. If this is an outside edge, it's called the low volume node. And this is not exact, but it's ballpark because my date has been going in and out, but it's roughly in this area. So this was the outside edge of this distribution, and this was potentially underlined, and this is at RTH open, too low. Now there's another piece if I can find it, hold on. Guys, I cannot find the overnight volume point of control. Where is it? Can someone give me a number? 49, 49? Okay, it's covered up. All right, thank you. Oh yeah, there it is. This yellow line represents the highest volume for the full ETH session. So let's think of this as retail for the whole ETH, so in fractals, too high, too low retail. For the whole thing, retail. Fractal, right? Remember, Russian dolls. So this is the retail price. This is the RTH open. This is yesterday's RTH, which was an Extreme Day retail. So think in multiple dimensions. It's like a vertical chess game. So now let's get to the RTH open. And by the way, if you have questions, please post them in the chat. There's a delay in YouTube, and don't forget if I drop out because I'm in Costa Rica and I'm having problems and internet and God knows what else. Power goes on and off. I'm telling you, I feel like I'm living out in the bush. It is the jungle, but it's like being in the bush. If it goes down, we'll try to reconnect in YouTube. If we can't, there's a link in the bottom of YouTube. You can click it. It'll take you to the Discord chat, and you can come and visit the Bookmap Discord Trader Lab community. I should be able to reconnect there. And you don't have to be a Bookmap subscriber. You'll never be solicited. Just want to give you the, as they say, the heads up. RTH Open, let's follow the Yellowbrick Road. Now, I'm also gonna try to show you a couple other ideas if I have time, but, you know, things get kind of weird. Hold on, I gotta turn something off here. Looks like we're taking out the IV low, but I don't know, I'm just getting alert. But I wanna, we wanna pay attention to the open. So let's look at this thing. So the market opens and you'll notice where it opens. Let's look, get back here. And we had a lively discussion in the Trader Lab today. I wanna talk about that a little bit too, because it's really interesting. So 830 RTH Open, I'm in central time. So this is the open right there. Where does it open? At this outside edge. Now, the volume's already coming in here. So it was right around, well, it's actually over here because this is not accurate, but it was here. So right here, we open right at that outside edge that I just showed you. This is the developing volume point of control. So this is my first volume and it resets at zero at RTH Open, these are pieces. Now, in the Trader Lab, we have structured trades for this condition. And again, who knows, right? This is always the joy. So this is called a variable high volume node. Now I'm gonna leave it there for the, well, actually, let me put it there. Variable high volume node. Now I'm opening at a location. Remember that was a dividing line of distributions. I open here. Now I cannot do anything here because it's too fast for me. But right now, let's look at a structured trade in the Trader Lab. V epoch migration right here. So I know this might be, and it's always maybe, so there's no prediction too low, okay? V epoch migration, I pull back. Now I'm looking to see, do I rotate down, take this out, take out that low volume node and do the Alcapocco cliff dive or do I now move higher and where's my target? Here. Cause retail. So remember, too low in the ETH, low volume area here. Retail overnight volume point of control here in the ETH. I think 49, right? Open lower, test outside, potential to come back to the 49 and then here. So that's kind of the lay of the land. Let's see what it does. Let's just watch the behavior. This is a potential long right here in the Trader Lab, V epoch migration. So can't do anything here. Suspect here, potential long here, stop here. V epoch migration, potential long here, stop under here or stop under here, subject to your plan. So let's watch it. Right here, watch target. So far so good. Test, this is a test in the Trader Lab. It's also a long if it's part of your plan. What's the trend currently? Up, up, too low, up, too low, up resistance. So let's watch. Looking good, Lewis. So you'd be on the long side. So far so good. Now, 9 a.m., you do remember we had a big report, okay? So, oh, it's the I'd be high, look at that. I wanna talk about our little debate, a big debate actually, and it's not a debate. You know what it is? This is what makes the Trader Lab such a great community. You'll see why. Now, the context I think we might agree is up. At 9 a.m. central time, we have the Jolt's Jobs Report, and it's the very important report. And now, here's the thing. What do you do if you're going into report? What do you do? What do you do? Well, a couple of things. If the report was bullish, our possibility is the ETH high. That's our next target. So what do you do? I wish, you know, this is where your trade plan comes in. You either get out or you trail a stop because in the casino, you do remember we're talking gaming here, not prediction that it could do anything. So this is the next statistical trade up here. Let's watch it. Now, you get the report, and it does the Alcapocco Cliff Dive, and it looks like the end of the world, right? I mean, this is kind of like, oh my goodness, everybody runs the other way. Bullish Report, everybody's aware of the Jolt's Report. Is that correct? How are we doing in YouTube? By the way, I hope you're getting something out of this. But let's go and see what's going on here. So this thing does the Alcapocco Cliff Dive, and this is where the conversation got very interesting in the trade lab. Now, let's just label these. Now, what I typically do, and I'm, for expediency and sanity, this is called V-Poc migration. These are structured trades in the trade lab, and there's 60 PDFs of these you can download if you want to reverse engineer them so you can understand market mechanics. Now, I don't use any indicators, you know? And it's not that you can't, I don't. And there's a reason. It's kind of simple, really. The reason is random inputs in a random environment create chaos and inconsistency. And if you think about how the casinos operate, they don't change anything. They don't adjust or tweak anything. They do nothing. They just play the game. They accept, because it's gaming, and that means randomness. So let's look at this order flow. So this is going on, and I'm seeing this starting to thick up in the book. Now, when a big report comes out, you'll notice you watch what happens as we approach 9 a.m. Just let's just look what happens here. Now, this is pressuring. So, you know, as we approach 9 a.m., what happens? This all goes dark, and there's the report. Down here, it all goes dark. There's nothing in the book, and it sweeps. Now, and this is basically, if the algos turn off, is that something maybe you should be thinking about? You need to, and you know, if you're a quote trader and you don't look at the calendar every day and actually every week, your job is to know everything that's coming out that might impact the market. Now, why does this happen? You know, well, think about this. If you think that the market might be in auction, in other words, what's its participant interaction? If that's the case, then when a report comes out, the market has to digest new inputs, okay? So, you have choice. If you know it's a low tier, low impact, you might just hang out. If you know it could be something substantial that might impact economic policy, like jobs, we have FOMC to borrow, and you gotta know those guys are looking the reports also. And it might affect monetary policy, don't know. The market's gonna convulse potentially. Now, let's look at this. I wanna mark this, and there's a term for this. Let's just call this report, and we'll say this is where the report disrupted the behavior. Now, when this happens, and the market jumps off, do the Alcapocco cliff dive, it's just shock, right? But here's what we know. We have targets above, we have targets below. We know this is disruptive. Now, let's go take a look at what happens here. We do the Alcapocco cliff dive. We take out, let me get back here. Where's our opening swing low? I think, let me just get back right here. It's here, opening swing low. I labeled these also, I didn't label it here. Opening swing low, what's under this low? Do you think stops might be under the low? Now, at this point, is it over? Is it a reversal? What is going on? Now, I'm gonna show you along. Now, this is something that I would call advanced, but in the Trader Lab, we have what's called priority of inputs. Now, I don't know, I want you to know. I'm clueless, so don't think anybody is gonna tell you what they know, because what I know is I don't know. Write that down. If you're in a gaming environment where the behaviors are random, you do not predict. Now, you could predict all you want. I'm gonna say, I cannot predict because that puts me mentally in a state of needing and wanting to be right. That means that somehow I've got a crystal ball and I can predict the outcome in a random environment. I cannot, so it's not about being right. It's about understanding market mechanics and what the potential is and not being hung up on the next trade or the next two or three trades, just like in the casinos, they're not hung up on winning every hand. They know they're in a random environment. They can't predict the outcome. How can we? How can we? How can, Jeff is asking me why I don't use the cash close for session N. Well, I use the CME settlement because three o'clock sent my time, stocks close, but futures keep trading. There's MOC, there's all kinds of stuff going on in there. So that's not the close for me, but it's not that material to me. It's a statistic that we might achieve. I hope that answers your question. So we take out, so let's come back here. This is the opening swing, right? 830 central time. That's called a driving behavior. In other words, that's aggressive buying. It's not just your little walk in the park. It's, I want these. So that's why it was long, long, long. Now we know the stops are under here. So let's come back and we get the report. What do we do? We take them out and there's stop sweeps. Everybody and their aunt has got their stops. 762 sell stops, thanks for playing. This is when the broker sends you a gift basket. Now, right here, I'm looking at this and I'm going, well, is this a stop pick? In other words, a flush of the financial, you know what? And we're going to mean revert and return to where we disrupted. My trade plan says the higher timeframe is up. And of course, I don't know. Jeffrey, I'm just telling you, for me, volume is at the end of the day. When the CME shuts it down, that's when I'm done. So my VPOC is there for yesterday, whatever that is, 52. That's me. I don't even know if that's right. It's just the way I do it. If you get better statistics that work better, anybody, I don't have a claim to anything, really. I mean, there's probably better ways to do things, I'm sure, than what I do. I have no claim. I'm just saying, I'm saying it's all statistical. So this is what I use based on my statistics. But everything you see, whether it's here or anywhere else, you really got to find your groove. You may find that what I do or anyone else does is not in alignment with what you detect. So that's why everything that you see statistically or otherwise, whether it's here in the stream or in the trader lab, you know, the 60 PDFs of structure trades or anything else, you just have to find what works for you. Let's look at this long. Now, I'm looking at this, and this is my variable high volume node, okay? That was my first area, and this was the RTH open, and I know there's stops. So I have the stops coming out, okay? Let's look at the long. Now, I see the selling, and you would think, oh, let's get short, it's the end of the planet. I'm thinking that, except I don't have a trade to get short. I see this. This is my first indication of, here, I'm gonna take you to microstructure. Now, I'm gonna show you the trigger. This is in the trader lab. Now, this is the developing volume point of control. Remember shopping, right? No, I don't know. And right here, sorry, here, this yellow line is the highest volume in the developing timeframe. I have statistics open above and below, the ETH high and low, and I had my news that disrupted the whole thing. So right in here, okay? So I'm thinking the market has a tendency to come back and check the disruption. That's a tendency. It's not a, you know, anything more than maybe. Let me break that down. So right here, and I don't know, at this point, I'm thinking it's going to zero, right? So this is microstructure. Chop, chop, chop. Now, I don't know. You got chop, chop, chop over here. Seller, test, micro volume. Seller, micro volume. Market's going down, you can see that. The volume is here. Market's going down. Volume, oh, change. Buyer, now, micro volume. Watch, test, order flow. Suspect, buyer, long, stop under here. Trader lab, maybe, not for you, but for me. What's the context of the market? Well, maybe it's mean reversion. What is mean reversion outside in trading? What else do we know? I'm going to show you market pulse now. Now, I don't trade with this. But, and here's the but. I see alignment. I have sellers in this leg. Everybody's doing the Alcapocco cliff dive. And what creates delta? Sell stops because they're market orders and also new shorts. Oh, it's going to zero, Lewis. So what do I know? I know this is retail. I know there's shorts and sell stops. Now, the interesting thing, and I find delta, you know, delta has a place in the toolbox. For me, again, it's just another random input. We don't know the makeup of the sellers in a leg. Is it longs getting flushed out, sell stops, which would become market orders? Or is it initiative sellers? And it's always a mix of both. So I know now that potentially the market is short. I know also I was disrupted by an input of a report and that the market has a tendency to come back. That's what I know, and I don't know anything else. So let's look. This is long. Now, you're probably thinking, how can you do that? Let's look at the market pulse, showing me the delta. This is showing me, and this works kind of like an oscillator, you know? I see this come up right here. Just, this is a sidebar, not part of my trading, but I want you to see. Now the thing that, and I want always caution retail traders, we all want indicators. We want them because something else is giving us the red light, green light. We would all love something to tell us what to do. Not to have to figure it out, just let an indicator do it. And that's why we use indicators. And what are they? Translators of participant behavior, but they're lagging in their random and they're not sensitive to the context or condition of the market. This is where they break down. I developed trading systems, trust me on this, but they're done that. Not saying you can't, I'm just saying it didn't work for me. There's a term called curve fitting. You've probably heard of it. If you're tweaking, tuning, adjusting, fitting, what's the term? Fitting, curve fitting. So I call that trader ground hog day. I should probably do a webinar in a stream just on trader ground hog day because we all've done it. Oh, look at that big rotation. Let me put an indicator over there. Gee whiz, if I, my standard deviation on my Keltner channel or my EMA or whatever I'm using, my envelope, my pick one. Oh, my fib level, how nice. Oh, Elliot way, pick one, pick three, pick 10. It's all the same to me. So let's look at the trigger. Too low, buyer, potential change in behavior. Market pulse, smells like a potential long. Buyer, let's look at the entry. Too low, let me show it to you in micro so you understand how you can use these tools. Now you're gonna find this interesting maybe, hope you do. So down, down, down, down, down, down, up. Watch, let me open it up. Variable high volume note, this is location. Opening swing low, stops, logic guys, think. What's under the opening swing low, stops. Do we keep going, what happens? Stop, I call it a stop pick. What it is is the momentum and the market's job is to do business. Buyer, too low, micro high volume structure, change in behavior, market pulse, divergence, you see it right there just saying, be cautious with indicators guys. More retail traders have gone out of the business trying to find the holy grail in the basket of indicators. Ask yourself why toolboxes have 50 to 100 of them. Wouldn't they only need a couple, just saying. So, too low, micro high volume, suspect, don't know. There's the change, there's the buyer. Where's the buyer in all of this, was it there? Too high, too high, see the test? Too high, change, suspect, don't know, chop. Don't know, chop, so volume, volume, watch, change. What do I know, buyer, too low, there's the test, there's the liquidity. I'm taking time on this so you could see microstructure. This is a trigger for a long, let's look. Now this, chop with the buyer, see the change. So this is a suspect and subject to your understanding and your willingness to take risk. And you know, what's interesting about this, at least it's a philosophy, and it takes a lot of time to have unconscious competence. In other words, to see these things and have a visceral experience. That's called unconscious competence, okay? And most of us are incompetent when we start trading and then after a while, and we are, we become consciously competent. In other words, you're narrating and we start, we do that in trigger lab. It's a conditional process, so you're narrating it. And then you're gonna be going, is this what I think it is? And you pull out your sheet where you've done your screenshots and all that stuff and you're translating. It's like learning to speak a language, okay? At some point, you know, you just become fluent. Well, this right here, when you see this, you could execute here, but let's assume you're competent, but not unconsciously competent so you could get in against this microstructure. But let's look at the other way to do it. What's this here? What's this here? Too low, buyer, so too low, buyer. Volume, buyer, too low. We come back and check it. Where do we come back? We come back here and if we look at the developing profile, we come out to an outside edge. You've seen this before. Now, so longs are in here against here. But where did we test? Excuse me. Oops. Right there. This is a trader lab structured trade. Are you guys tracking? Now, where do we go? What's the target? Let's think, guys. Put our, it was Professor Peabody and the Wonder Dog and they would say put your thinking cap on. Guys, put your thinking cap on. Where might you anticipate the opposite side to come in? Do you think we would get sellers at the mid and the VWAP? Yes. If we see this, what are we anticipating selling? If you got short here, you'd have to scale ahead of this. Why? Retail trader behavior. And they might be right. Remember the gamblers? They win. I don't know. So it's not my job to know. You know why? I can't. But this is what I do know. This was too low. So if I get long in this because I'm able to execute here, I gotta scale here. If it bounces off of here and it comes down here, I have my liquidity in the order book. Let's go a little further. Don't forget, this was also an alignment. This is my test of this volume. This is a long. Where might it come up? Back to the mid. Back to the VWAP. What is my trade? I'm trying to get here. It's called mean reversion. Where do I go? There. That's the target. Is everybody tracking? Now we had a big debate. And the debate's not the term. It's really a discussion in the trader lab. Is this too high? Yeah, Jeffrey, there is a big difference. You gotta vet it for yourself. So this long. So this is how I think about this. This is the retail price. Now I don't know if the trend has changed, we come back to mid. We're gonna do the Alcapoco cliff dive. I understand that. That's why if I get long, I have to scale here. That's the trade. Then it either goes onto this and keeps going north or we can't get back above the mean and then we can come down and take this out. I mean, that's all I know. I don't know. After that, my job is done. My job is to get risk neutral. And then my stop goes under the low of the day or however my trade plan dictates I manage my trade. That's really, that's the business. Other than that, that's the business of trading is I experience it. Cause I can't predict anything. I leave that to the people that are smarter than me and that's other retail traders and most of them aren't in the business because they're smart and they operate on emotional stimulus. The answers lie in statistics and accepting randomness. So that's just it for me. I've gotten over trying not, I can't tell you how many times I've gotten smart and go, oh, this is gonna fail. It didn't take out the mid. Here's the other side of that. What's above the mid? Buy stops. These guys, all these guys, here, coming down and there's my liquidity coming up. There's my order flow. Where's their stops? Here, above, so here, here, here. Well, if this is too low and this is what these buyers told me and I have liquidity, then what's my trade? If I get long here, my stop can go under here. And then I'm looking to squeeze these guys out and get here, that's the trade. That's called mean reversion. That's all there is to it. Now my data went down. So there you can see that, that was fun. Monkey swing on the vine in Costa Rica. So I don't know what happened in here except we're going for this. Now, this is called VPOC migration. So let's label it. Now, this is where things get conflicted. But this is where trade plan comes in because there's no right or wrong. I mean, everybody wants to be right and everybody has an opinion. I want to be right also. But I figured out that I don't know what's right. I just know maybe. So I'm out of the right business or the wrong business. So this is called VPOC migration. Now you notice at the open, we were getting long based on the migration of volume and price moving higher. This sets up a problem for the longs. So this is what has to happen. If volume and price are moving together, we have to clear 51 to get here. And that's my target on this long. This moves down. To get higher, I got to clear this. It's 51 or 5075. My data's off a little bit, but it's close. Let's watch. So too high, now here. VPOC migration. Too high, let's watch it. So what I'm seeing here is disturbing for me. But, and here's the but. I know I'm in mean reversion because that's the mean. The problem I'm having now, and this is where the conversation came up in the trader lab is where's your priority of inputs? And this is part of the thing. If you're a short-term rotational trader, this could be a short. If you're trying to trade outside in, it's still a long, what's your timeframe? That's where trade plan comes in. I tend to like to try to go for the longer ball. In other words, I put risk on. I want to get risk neutral. I want this and above. If I get risk neutral and it falls out the bottom, I have structured trades to get short. It's just the way it is. So let's go look at this. Remember, this is our long. We had an entry here. The target was this. We had an entry here. Take the stops out over here. Retail trader behavior. Target was this. Looking to get through it. This shifts down. This is a warning Will Robinson moment. Will Robinson was a TV show in the 60s called Lost in Space. Okay. V-Pock migration. Too high. V-Pock migration. Watch. Now, this is a problem, but this is where timeframe and fractal comes in. And this can be conflicting. And this is where your individual trade plan comes in. So in theory, this could be a short. This could be a short. This could be a short. But what's my problem? This is a long. So if I'm trading short-term rotations, I could be short. This is my outside edge from out here down to there. If that's your trade plan. For me, I want to be long. How do you sort that out, guys? Isn't that interesting? How do you sort that out? You know how you sorted out statistics. So this is my outside edge. Variable high volume note. This is the first hours low, which was made on news. Is that an excessive low? Huh, I don't know the answer. Do I know? So what do I have that I can go by? I can go by excess my behaviors. Guys, is this the IB low? Because I want to make sure, because my data was out and I don't know what's going on here. I want to be sure. Was it made here? Doesn't look like it. I can't tell. Trade 11, 49, well, I could see that. Where did it, when did it happen? What time? Okay, so it did come down. Okay, great. 926. Oh, so over here. Okay, so this is what happens here. You get long, you get scaled. This starts migrating down, you get taken out. Right here. Now, right here is the IB low at 930. So what are we looking to do here? Let's look again. So it comes down, it takes out that low. Now here, let's look again. Market is short. Now there's over a 90% probability we'll take out in past performance, not indicative future results that we'll take out either the first hour or higher low. Don't know, right? There's also over a 90% probability we'll take out either the ETH higher low. Past performance, not indicative future results. You got to vet these. So we come outside, we take those buyers out. Market pulse, outside edge, high volume. You can see it there. Buyer, let's watch. So potentially too low looking for this. Mean reversion, what are we doing? Outside in, this is rotational trading. Now I can understand where we're thinking this thing is host, I get it. Because what does it have to clear to go higher? It's got to clear that, which was created by that. That's called VPOC migration. In other words, high volume is retail price. So too high, too high. Come back up, check too high. This is a potential short in the trader lab. I'm having a problem with this because I think we're gone up. And it's because of the context. And this is very, I think the term is questionable, of course. We come back down. I have to clear this, which is around 50. And I got to clear this one to get to the IB high, which is my target on this. So I'm having a hack of the time and in the trader lab we're all losing our minds. It was very questionable about the whole thing. So we come down, watch, check the IB, double bottom, weak bottom, don't like it. Now right here, VPOC migration. Right here I'm going, this is not looking good. Let's look at it. Now I'm going to suggest, and this is what's really important and I stress this in the trader lab, it doesn't matter about one trade. There's no right or wrong. There's no winner. It's one trade. And the need in my opinion, and I'll only give you my opinion to change how you think because if you're thinking, your thinking can become very limited. So right here, this is too high. So I'm looking at this and I'm saying value and price, in other words, volume and price are moving together and moving lower. This is now looking good. But I'm still in mean reversion. What's the higher timeframe trend? It's up. Let's look at this. Let's check this price. So too low, check too high. This is a potential short in a trader lab. I'm very conflicted with this. Let's go here. This was a potential short in the trader lab. So we're moving lower. So think of this as support and resistance. I pull back to mid VWOP and a variable high volume node. That's a potential short. Now I am not taking shorts. And this is really making me nutty. Too low, right? Buyer, back to here. That is resistance. Potential seller, see the behavior. Potential seller, see the behavior. V-POC migration, right here. If this is going lower, I wanna see it do this. It comes back here. And what's above here? Stops, it's the mid and the VWOP. Stops, stops, and here, stops. Now I have no clue if it could jump off the bridge right here, I cannot predict. Here's where it changes. We do the opposite, too low. This now is too low. You see your buyer. We pull back. What do we test this? Is this now too low? Is this too low? Is this too low? These are trader lab longs. To where? Here. This is not easy. I mean, and anybody, I mean, there's no right or wrong guys. It's just maybe. So, and there was a great discussion in the trader lab. If you guys, if you're in YouTube and you haven't visited the trader lab, it'd really be worth your time, I think to come in there and join the fray, you know? So this was the target. Remember this, IB high, that was the target. Now, we got back, we took the shorts out who had their stops over the high of the day. Now we're back into mean reversion. This is two-sided trade. This is called the IBF or IB failure. It's a short, I don't know if you have an entry for it, actually, let me look. This is a structured trade. So the idea was the long was to come up here and take this out, which was the current high of the day and get back to where the disruption was. That's the trade. This is a consolidation. I have no entry up here. Break low, there's your seller. This volume is too high, right there. You'll see it here. That's a low volume node, that's retail, low volume. So this is just below retail. There's your seller. To get into this trade, you really want it to come back here, up towards this, out here really. It didn't quite get there. This is the mean. So this trade, if you took it, and I would not because of my risk, this is my obstacle. This is called mean reversion. It's a trader lab structured trade, but I don't have a trigger for it yet. So I don't have a trade, but I want you to see the trade and you could download the PDFs if you want to look at these things. So this is your volume. If you look at distributions, and if you remember the top of the stream, I was talking about what happens here. What this is here, let's just look at this thing. Let's not worry about the rest of this stuff. Remember, our target was this and this. If we cleared the 51, right? Wasn't that it? Yeah, it was this. So once you got above there, you're going here, here, and then don't know. And you're looking for that would be your next target. We still have the ETH higher low over 90% probability. One of them will get taken out and nobody knows. And don't forget FOMC tomorrow, just saying. So you got to keep all that in the back of your head. So right here, up going to the moon, going for that. That's your next high probability target, past performance, not indicative future results. Seller, change in behavior. Don't know, it could just be a rotation and we can go towards our statistic. This is part of the joy. Let's look a little further, by the way. Long, long, long, long, long, long, long. Market pulse, excessive, here. Coincidence, maybe, don't know. Don't trade from it, don't ignore it either. Liquidity in the book, micro high volume structure. This little, this is called the chart volume profile. All I'm looking at right here is the volume that's on the screen and I'm isolating and I'm seeing what's called the distribution. So I'm not paying that. Yeah, but it's on sale, retail. And if you think about this as a shopper, if the retail price at any level becomes unfair or too high, the market can leave it and go and mean revert and come back to the meat. So Russian dolls, micro structure. I know the alerts are going off, keeps me alert. Seller, high volume is here. Now, subject to your trade plan, this is a short in the trader lab or not. It's subject to your plan. Let's watch it. Micro high volume, I be high. So we have a possibility. Pullback, continuation, and I can't, I wish I could tell you which one, or pullback, test, fail, and then it's mean reversion. So here's the test coming back to the micro high volume structure. This is called thinking in fractals. And if you, so right here, it's gonna do, and it's truly up or down. If you're in the trader lab, you would know this and you'd be stalking it and you wouldn't know, but you would have two trades right here. You have what's called the IB continuation trade, which would be a stop pick against this volume and along, or this volume is too high and a short back to here. That's what you have in the trader lab. So let's look. This is coming into the book. Watch, don't know. Bang, it's a short. And if it doesn't retrace, you have no way in. And it's, here's the bottom of the volume. Here's the test. For me, this is where I'm going. My risk is out here. Does the risk reward fit your plan? For me, mm, doesn't matter. How about you? So in a trade plan, and this is part of what trader lab's about, we are working with auction mechanics, if you will, market behavior. What we also have to have is that when a setup shows up, our structured trade, then it has to meet the parameters that you've vetted. In other words, risk-reward ratio, distance to first target. Because here's what can happen. Market can come back here, test and push back here, or it could just keep going down and come all the way to the other side of the range. Let's see what it does. I have no idea. Oh, there you go. And back to here. So you have to decide. You see, I know the mechanics. I don't know what it'll do. So this is the target coming down this way. Let's see what else we got in here. So too high, there's your seller. Test, micro volume, break. Here's all this volume here. You can lean against this volume. Stop has to be here or here. These are structured trades. It has to fit your plan. You're still going for this. V-POC migration, that says potentially too high. Let's see if we get that structured trade in the trader lab. This is a potential short right here, but this is your target, you see. So do you want to take this? Another structured trade. And you get in here, subject to your plan. All these are structured trades. I'm not saying you should trade them. I'm saying is you can reverse engineer them. If you understand the behavior, then you can determine not only where you might interact, but what's the obstacle that. Right there. So if you got short here, you got to scale ahead of this. So let's observe this from here. Then you're sitting short. Your stop has to be above this. The ID in the trader lab is a minimum two lock configuration so you can attempt to get risk neutral. And then the worst that happens is you scratch your trade. So the idea of this concept is to help you be able to sit through the rotational aspects of trading. So you're not, and we are all emotionally triggered. You know, fear, greed, all that. This is normal. We're wired for that. How do you overcome that? Well, that's having all the work laid out before the market opens. The decisions are made how you're going to behave outside of trading hours. That's called trade plan. Then you're in a narrative of behavior and it's a conditional behavior or statements. And I kind of myself, I started thinking this way after I built trading systems. And since I used to manage a lot of dollars, what it was is I wanted to be able to trade. And I was trading manually basically across multiple asset classes and that meant doing charts and stuff by hand. This is a long time ago, right, mid-80s. So let's start just reading some posts in the trader limit. So conditional statements guide you into a matrix of, so if this, then that. If not, then what? If we take out the IB high and we can't get to the ETH high, we come back inside the IB. If this, then that. If not, which means we did not get, we came back. We didn't get the ETH high, we came back. That sets up the short. Where does that take us to? Across the range. To where? To this. And below. So you had shorts wherever it fits your plan. This is a trader lab short. This is a trader lab short. This is a scale and what's our next statistic? This, over 90% probability to get to one of those next target. Are you guys tracking? And how about this? It's all random. Is everybody tracking? By the way, no crystal ball. This is how we work in the trader lab. Nobody predicts anything. The only people that predict anything are fortune tellers and tarot card readers. And if that's how you want to trade, then this is in for you. We are in a random environment. It's really important to let go of the need to be right. We all want to be right. Has nothing to do with our business, really. Our business is randomness and that's a very hard thing for us to operate in because as human beings, we want certainty, of course. Red light, green light. Red light, stop. We're certain we're gonna get pretty much run over if we cross against the light. It's pretty clear. Indicators, red light, green light. Does that mean you're not gonna get run over in the market? Nope. Does doing this mean you won't get run over in the market? Nope. So how can we want something we can't have? What if you sit down and think about trading? It's not just sitting down at a slot machine. It's very much sitting down in a competitive environment just like an athlete does. You put yourself in a mode mentally and can you put yourself in a mode of, I don't know, because you don't. If you can accept you don't know, you can take yourself off the hook of needing to predict. If you can operate like the casinos do where they accept randomness and that losses to the gamblers just overhead and cost of production, the dealer doesn't get depressed if somebody walks out with the cash. For some reason, the casinos can still afford to give you cocktails, the ticket to the buffet, and depending on how many dollars you bring to the table, tickets to see a dell and maybe even comp your air flight, you know, your flight and your room. How can they afford to do that and build bigger casinos? Because they have anchored inputs, not random ones. And the problem we have as retail traders, and I want to stress this, our problem is we believe that by adjusting random inputs, we get closer to an idealized outcome. We can fix it, we can tweak it, we can make it better. And what drives us to do that is the random outcomes of individual interactions. So gamblers win, so they play their game, however they do it, it's all random. The casinos don't change anything. Why would that be? Why wouldn't the casinos be just as smart as us? Are we doing what the casinos do or are we doing what the gamblers do? I'm gonna suggest if you are changing, tweaking, tuning, multiple time frames, multiple indicators, tweak this, tune that, align this, align that, you are the gambler. Gamblers don't stay in this business. And of course, past performance is not indicative of future result. You might be the exceptional gambler, and that's great. But the business of trading is not the business of gambling. It is the business of game. So it's really important you sit back and think about it. I mean, what happens on one trade at any moment is, you know, whatever, it's not material. It's what happens on a large sample of trades. That is material. So now we wanna watch. You see the liquidity, the order flow. Notice how it's coming up. It doesn't mean that we won't take it out. That is not what it means. Notice where we came. The target is right ahead of this. And then I'd have to go look at the higher time frame to see what else we have. Down here, actually. And I don't know, and it doesn't matter. What can we do? We can do this. VPAC is migrating lower. It's saying that we are accepting lower prices. So if this is a short, this is a short, we're coming back through the IB, then it becomes mean reversion potential to come back here and rotate up here and squeeze these guys. Outside edge, let's go look at our profile. Micro structure is here. So we can come back here. We can squeeze these guys. I mean, it can do anything. So in the trader lab, you have structured trades. All you'd be doing is following the value, developing value of the market and waiting for your trade. It's like waiting for a bus. And then it either works or it doesn't. Over a large sample size, you need to extract whether you have an edge for any specific condition or setup. That's what trading structured trades is. That's what we do in the trader lab. And if you haven't visited trader lab, there's 60 PDFs of structured trades you can download in reverse engineer. The whole thing is you gotta have a place, I think the start. And if you're doing what most retail traders do, which most are, then if you are thinking you'll have a different outcome, I'm gonna suggest maybe not. Or maybe yes, it's all maybe. Statistically, retail traders don't do so well. You have to ask yourself, why is that? And the other thing is we believe we're special. And you, by the way, are special. I'm special. But the collective behavior of retail traders is similar. They all do the same thing. They put their, they trail their stops at swings, they put their stops at the mid, the VWAP, they all, it's like lemmings. Why? Because they all grow up doing the same stuff and have the same beliefs. I did. Haven't you or aren't you? Well, if we know their behavior, can we anticipate market behavior and market mechanics? I know. And I don't know what the market'll do. Here's what I know. I know this is too high. So I know if I come back here, I can check this. I know this is a swing and there's stops here. I know this was too high. I also know there's stops here and here. If I come outside, I have to see the behavior and then I can come back here and then I can come back and continue down here. If I can't get back above here, which I suspect I might and I don't know, then I can just continue going down. That's what I know. And if I don't have a structured trade, I'm a tourist. I just sit here and go, oh, that's interesting. And I work on my crochet or get my pizza delivered. That's the business of trading. I only want to interact with the market where I have an edge. The rest of the time, personally, I don't. And the reason I don't is, if I get involved, I want this leg. Cause I'm taking the same risk for this. If I get involved here, my risk is to here. Is that gonna pay? If I get involved here, microstructure, I know this is the fair price. Why would I sell it here? Even though it might go and keep going, it might. If I get short here, my stop is here. The swing is here. What's gonna happen here? I don't know. I know I can sell it, but I'm not a scalper. I don't, I just leave it for somebody else. And it can come down to here. This now is the fractal. Why would I sell it there to go here? And remember, stops are there, stops are here. If I'm gonna get involved here, I want it out here so I have range. And that's just a personal decision based on risk, reward, and statistics. I'm not here for action. I'm really here to take intelligent risk. So I don't want to take, cause for me, getting short here, this is a structured microstructure, okay? This is a trigger. Why would I get short here when this is retail in the next higher timeframe, you see? So the tendency is, even though you're seeing fractal behavior, too high in the fractal seller, test, seller, and we can rotate down from here, in the next higher timeframe, that's retail. So how can I sell this? And good conscience, even though randomly, it can keep going down to there. So we'll see what it does, but that's the question. And the answer is something that you determined for yourself. Does that make sense? By the way, if you're getting something out of this in your YouTube, please give a thumb up, you know? By the way, in the Trader Lab, and you're all invited to visit Trader Lab, there's a link in the bottom of YouTube so you can download those 60 PDFs of structured trades. So you can see this behavior in all timeframes and fractals. This is called trading and fractals. Is this a fractal? Or a timeframe, because I don't use time. So for me, I don't have a clock. I mean, this is what? 1140, this structure happened between here and here. That's a fractal. And the time between here, which was let's say 1140 and 16 seconds, to here is 1142. That's a minute and 45 seconds. So, or to here, this is my fractal, there's my seller. This is my test of the fractal. This is, if this was in a higher timeframe, it's the same. That's why this is a short that's not a short for me, because I can't trade in this at this location. But you can see, watch the behavior. I could trade this all day. I'd also be taking stops all day. Because where's my range to get risk neutral? Now, if I'm in a different location, this is a trigger, okay? So we'll watch it right here. I just wanna show you behavior. I'm not calling trades. This is not a trade I would take. And it doesn't matter if it goes to zero. Because over time, this doesn't have an edge for me. And it's a rotation. And this right here was too low. See the buyer? See the seller. So what do you have here? Outside, outside, liquidity, retail, higher timeframe stops. So we'll just watch how this plays, okay? I'm getting the question, how long it took me to become good at trading? I'm still working on it. And that's going on 44 years of trading. As a professional, as a money manager, as you guys know, a fund manager, and I'm still working on it. You'll never be done. Because you're always gonna see things and you're gonna think about it and you're gonna want to improve. I look at things I do and I go, and I miss things. I mean, I make errors. And I make errors because I will get myopic. I have certain weaknesses. You're gonna discover your own weaknesses. Nobody's, we're not machines, we're human. So you don't see something or you get whatever, you know? Happens. So I try to just improve every day. So I never consider it. But I'm always looking at ideas. I'm researching stuff. I do research all the time. I do replays. It's kind of like any athlete who they practice, they watch films, they get coached. You know, you have to become your own coach or be in an environment like the Trader Lab where we coach each other. You know, the thing about the Trader Lab it's a community of like-minded traders. Our senior trader has 54 years experience. And I think Patrick, maybe it's going on 55 by now or are you not counting anymore? You know, I've got going on 44 years and there's the range of traders from newer to seasoned and not one methodology, many different methodologies. There's not even a right way to trade. The only way you know what's right is, is it consistent so you can extract a statistic for it? If you, if it's random, there's no way. It isn't about P&L. That is not a statistical. It's the setups are all individual. If you knew over a large sample size that a certain process you use other than the outliers, because we all look at the 20 point rotation and slam a MACD or a stochastic over it so you'll get it next time. Hello, sound familiar? That's called Trader Groundhog Day. But in between the few 20 point or whatever 12 point rotations you catch, you lose because that approach is just an outlier. There's, then it's nothing. It's garbage. And if you don't vet that process to know even where it applies, see the problem we have as traders is we're trying to put the market in a box. So it's always the same. The, the market goes through changes. You know, it gets directional, right? Directional, oh my goodness, going to zero. What's it now? It's not directional. It's rotational. This becomes potentially a different plan. It's either long back to here or long back to here, short down to here. Well, what do you do? Do you have a plan? The thing about Trader Lab is it's not trying to fit the market in the box and where most traders have a bad time with it. And I know I did when I was building systems. I was trying to get the system, conditional behaviors to switch gears. It's kind of like are we on the Audubon, pedal to the metal, or are we now driving through the mountain? And it's winding curves, down shifting, you know, up shifting, down shifting, different behavior. But do you have this thing and overdrive, even though you're now on a mountain road going up a steep incline, or you just going down, you see what I'm saying? This is where traders have a problem. It's called context. Can you see why I couldn't take the short? Why this is the mean? And this is what? Mean reversion, different context. Guys, this is the crux of the problem, I think. I mean, there's a lot of pieces in the sense of quote, the problem. Let me call it the challenge. The challenge is understanding the market is not, we can't put the market in the box and create red light, green light. I mean, you might. I worked on that process for years, not six months, years. I built systems and I needed systems because I was managing dollars. I needed a system. And the system would work, but I was constantly optimizing it. I constantly go back, chunk of data, then do walk forward testing, but you're always behind the market. And there was no day trading back then, swing trading, that kind of trend following. So completely different environment. So look at what we're doing here. So this is too low. This is your mean reversion. Where's the outside edge? Are we gonna take this volume out down here? I don't know. I do have an open statistic. So I don't know the answers. I certainly don't. And the Casino doesn't know either. They don't know which hand they're gonna win and which one the gamblers walk out with a suitcase of cash. They just go on to the next hand. They're not rejiggering the game because somebody walks out with $100,000 in cash in a suitcase. They don't take blackjack and make it a 10 card game. They keep it seven cards. That is your model, in my opinion. It's gaming. So this thing about being right and tuning and tweaking, that's not our business. It's, there's no magic indicator. There's no special sauce. It just doesn't exist. It wish it did. You can spend eternity looking for the secret that every retail trader before you who's walked in your shoes has looked for and is no longer in the business. Why are they not in the business? Here's something and please write this down. Think like a retail trader. Don't act like one. What do they do? Where's their stops? Where would you put your stop? Do you think that might be a target? Can you think like a retail trader but not act like one? Where is the mean and where's the outside edge? Outside edge is here. Stops are here. What might we anticipate? Here, here, not a recommendation, here, here. I know why you're saying, well, it could do anything. Yeah. So what do I know? I know if I come up to these locations, I'm going to be looking now for potential triggers. This is not a trade recommendation. Part of having a trade plan is anticipating where the trades might show up. Not will because it's random. It might only come here. And do the Alcapocco cliff dive, we have an open target which is a high probability statistic, past performance, not in the future results. Over 90% that will get here. We missed it. Still open. All this liquidity sitting in the book. Potential to come here. This is a target, not a recommendation. So for me, I'm looking at shorts but not from here. Why? And this is going to be a tough area because there's stops here. The better trade for me is for the stops to get taken out and then look for a trigger and then back to there and down there. And if not, then not. It just, it is what it is. Now, can you handle sitting here and not being triggered by FOMO? Can you be what professional traders do? Just patient because you're in a career, you're going to have thousands and thousands of trades and you're sitting here and you have a need to do something. Is that why you're going to put a short on here or do you have a statistical edge to put a short on? That's the question. If you don't have an edge here, why would you interact? I always think, and I hadn't think and I didn't understand this early on. To me, it was about predicting. And part of that came from my early education at the CME was charts, classical bar charting, which is measured moves, targets, triangles, planets, all that stuff. You know what I'm talking about, head and shoulders. Well, they all had measured moves. I thought the business was measured moves so you start out with that and you think it's predicting. Then if you lean in the Fibonacci, so we're going to predict this, pick one, you know, or you get into Elliott wave. Well, there's three waves. There's a corrective, right? Let's keep going, you know, keep going. The golden mean, let's keep going. Darvix boxes, let's keep going. VWAPs with standard deviation. Let's keep going, help their channels. I like those, Iggy Mushu, whatever it is, Mushu pork, you know, Iggy Mushu, no disrespect. I like those, been there, done it. It doesn't matter if it works for you and you could drive an edge, that's what you should do and please bring it to the trader lab. We all want to get better. Here's not a right or wrong. Here's the answer, it's simple. Can you measure it? Is it consistent? Does it have an edge? That's it. And as they say, case closed. You can do that, that's it. Costello, the long back to VPAC is legit if it's in your trade plan and has an edge. You know, the thing, here's how you might think of this too. Is this a long back to here and maybe up to here or is it a get out on a reversal because you want to get short and you're not getting long and you're looking for the squeeze only to take shorts. That's how I look at this. I have choices, I could get long, but what's my target? This, it's still open. I don't have a long. If this is a long, it could be get out of your short because of the trigger. It's a trade management process to get flat looking for the squeeze. For me, if I'm on the short, which was shorts in the trader lab, I'd be out here, right here, you know, be done. Or see, this is Costello and thanks for the question in YouTube, trade plan is what dictates what you do all before the fact. So this is cover the short here. That's life in the fast line. You're flat and you're looking for this to come back out for the statistic or long mean reversion back here or the squeeze to here to get short. It's advanced. I, in a trader lab, I'll tell you, for me, I just assumed we'd be taking the shorts and just managing the trade for the counter-trend rotations because if I get a counter-trend rotation, if we accept potentially the trend is now down, maybe, I don't know, could be balanced back here and come all the way back up. But with that fall MC, I'm inclined to think time to get short, right? So I can be out of the short looking for the rotation to get short again, hit my statistic or hanging in here and writing this because this trade won't fail until up here. This is where trade plan comes in. So it could be either or. Or you could take, I call this, to me, this is a counter-trend trade. I prefer to go with the advancing army. Doesn't mean you can't trade counter-trend. You know what I mean? Yeah, costality, yeah, it's whatever your plan is. It's a matter of edge, you know? For me, I don't have an edge here to get long. I see the trade. I prefer to get short. But that doesn't mean it won't come up. See, the thing about it is, if this is too low, then I can squeeze these guys out, you see? Then I'm looking to see the behavior for the short to get my statistic. I don't have a long, but I see the trade for the long. So I use this long to manage my trade or to get short. See, that's a matter of as we think timeframe and context. This context for me is not a long context. It is a short context. Isn't that interesting, Costello? And we're both right in the sense of following our trade plan, you know? So we'll see what it does. But that's kind of traded, guys. I hope you got something out of this today. And it looks like we got lucky. The monkeys didn't swing on the vine. Doesn't mean they won't. That's the way they are. This is what the 60 PDFs look like. And by the way, if you're in YouTube, please hit the thumb up on the way out. It's one way to help that we continue the stream. And you could see, these are the trades I've been discussing, circles, arrows. It talks about stops, the integration of cell stops, you know, using the stop and iceberg detector. What the conflicts might be, where these shorts are. This is the VPOC migration. There's the test. I'm actually showing you some of these trades today. And these are all available if you're in the Bookmap Discord Trader Lab chat. You know, I'm not saying these are right for anybody. I'm not a vendor. There's no course. You don't have to be a Bookmap subscriber to download these and think about them. I did these kind of just off the cuff. I was getting a lot of questions about what I do. And you know, here's some explanations. Again, they were never intended to be what they are. But there's 60 of them, explanations. This is like 2020. So I did these a number of years ago, you know? And I share these. And of course, this is kind of like not advanced. This is kind of where the rubber meets the road and you can extrapolate behavior. And then you can adjust it to timeframe or as you think or me, I just think of fractals. And it's up to everyone to vet these in the Trader Lab. It's available to you to vet these for yourself and see where your edge might lie. There's no right or wrong way to trade. But I'm going to suggest if you're experiencing Trader Groundhog Day, you are probably doing what most other retail traders do and most retail traders do not have a career in trading. They just sort of visit. So if you're doing that, you might want to derive some benefit from the time you've put in and maybe understand that random inputs in a random environment really create chaos. And there's a library of webinars in the Trader Lab that you can access. Start with the primer one. It gives you a high level overview of this process of auction market theory using volume profile as a way to see inside partisan behavior, no indicators. But it also gives you an overview of the business of trading if you haven't thought about it this way. Most of us think it's just indicators, right timing, all that, and I'm going to suggest maybe, maybe not up to you. Thumb up please in YouTube on the way out. Click the link in the bottom of YouTube if you want to access the Trader Lab. You don't have to be a Bookmap subscriber. Now, however, never you'll never be solicited by Bookmap and there's a lot of additional free education stocks, options, crypto, order flow with a high tier tool like Bookmap, algorithmic behavior, market maker behavior, options, swing trading, I think I said stocks and much, much more. Thanks guys for visiting the Trader Lab. Hope you got something out of this today. And if you're in the Trader Lab, remember this stream is available exclusively to you for review, screenshots, circles, arrows. Every day we want to strive to get better. And I want to thank all the Trader Lab participants for the effort of what it is to extract metrics, to discuss analyzed market conditions and to help us all collectively leverage our experience to get better. Thank you Trader Lab and thank you participants in YouTube for visiting the Trader Lab. We'd like to meet you that come to Trader Lab, check it out and all the resources of Bookmap and the free education is available to all of you. Take advantage of it. Thanks again guys. See you soon.