 Good morning traders and welcome to the bookmap live training webinar today with Scott Pulsini As you guys know we do this every Thursday at 10 a.m. East Coast time. It's all part of the advanced webinar training the the concept here is we have our Advanced or our Online course It's it's on YouTube. It's a video course. It's four parts And then we go through live analysis in the live markets and those are recorded as well So that you can learn from the course and then apply it directly into the live analysis for looking analysis not hindsight That alone is we think of tremendous value. We have other traders doing it as well and then We have live trading with Jay trader and Scott Pulsini So what it is in demo paper trading mode? So let me go through you guys know who Scott is if you don't he's got pretty pretty incredible backstory here I have his contact information here as well. He does offer mentorship so you can reach out to him I need to go through the disclosures and you got to understand what you're getting involved with in here because it is in demo mode and only for education so general disclosure all book map limited materials information and Presentations are for educational purposes only and should not be considered specific investment advice nor recommendation Live trading is in simulation demo paper trading mode and strictly for educational purposes Live trading executed in simulation cannot accurately represent realistic trading performance risk disclosure trading futures equities and digital currencies involves substantial risk of loss and is not suitable for all investors and Investor could potentially lose all or more than the initial investment risk capitals 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. Alright, so one other thing I want to go through And just mentioned here on our discord channel There is a special event, so let me show that here it is If you go to here, let me show you you go up up to here in events Click on events here, and then you can see the special event in here. Alright, so it is a Webinar tomorrow. It's about the trading competition that we have It's all next week And we have you know go to I put the link in here right here book map comm slash trade of eight for all the details and That'll take you to this website here And and you'll see all the details and what you get there's a couple of videos in here How to sign up how to how to compete and connect etc. It's a nice offering you get quite a bit from book map and Yeah, it's you know, it's all free and you get this is a $3,000 first place winner here, I guess so you know, this is a Real real nice event if you want the details Go to the trade of eight link, but we have the event tomorrow At 2 p.m. East Coast time also to answer any questions that you have. Alright, so I just want to mention that And we'll probably have events next week regarding that as well. So All right, just wanted to mention that Scott are you in here? Yep, you hear me. Hey, there you are. How are you? Good. How are you? I'm okay. Just Busy as heck Let's see if you want to share your screen and then I can rebroadcast it Yeah It is Let me pop it out of it now. Hold on. Okay, there it is Good Lord All right, I got it now. You're all set Scott. Yes a lot going on here the Pals just talking ECB released Change interest rates actually looks like it kept in the same and then Yellen's talking and just there's a lot of info hitting the market. So The last volume event here in Nasdaq that I'm watching is The stop run fired off right at the open here So Stop so this is a dumb and dumber one of my six distinct setups where you have the dumb money puke the retail trader puke again Don't be offended. I'm a retail trader as well But we are not as informed meaning we can't trade as big and push the markets around like the bigger bigger Fund houses so on and so forth. So puke That's not real selling obviously It's just someone puking into the market rejected that this was actually a pre-market zone comes back and touches that exactly So I Wasn't trading this especially because I always revert to the newest volume event I'm waiting for a retest of this zone and then a failure back out Outside of an ATR and then I average to range and then I will go along We'll go over that here as it happens, but I'm waiting for a retest of this so I'm first and foremost Yes, I was going to go along this Aggressively there was some sell ice here. There was a bunch of stuff pre-market as well but the most recent set up here you can see this close to a thousand sell ice here and We are above the yellow Ludwig level which will go over and when we are above the yellow directional Ludwig level I take Trade aggressively to the long side. So I was going to take this just outside an ATR This didn't move down below this zone pretty close to an ATR at the time Let's say the bottom of the song was 68 and we got down to Basically 59 and a half So that was an 8 to 59 and a quarter. So that was an ATR below there So, you know when markets and this is actually a potential short setup now for me where So I was going to go long but once it violated an ATR below here that disqualified the long for me So I'm going to cancel this long and then what I'm watching here is I'll potentially go short. Yes based on this setup, right? So we got a full ATR outside of here Here's your retest if we go failure. I will go short. Yes So hopefully I don't have dueling positions on but you know, it is what it is I trade I trade my areas you know Based on the either conservative or aggressive and this would be a ATR retest failure So I will short this we'll go over all this with the logs and everything I'm looking at I look at so right now currently ATR again, this is average true range. This is just a Default I'm thinker swim 9.29. That's the same thing here. So it's just saying the average range right now It was almost almost nine and a half points Changing on me. I should just went down 8.74. So I Usually enter my trades about 10% outside of an ATR. So It's basically around nine nine and a half points. I will short this market if we this fails back out here. So the Bottom of the zone was again 68. So that puts me at 59 58 58 and a half I will short this I Will short that I was looking for a retest failure to go long Nasdaq this zone down here So that never touched it. So this is still a limbo But I will short this market here. We'll take a look at the lugs and what I'm Talking about. I'm also currently short. We will go over that here in a second as well So these are You know, I use these in conjunction with the SI setups that helps. They're incredible for day trading the The sport and resistance are incredible areas. I'll show you one here and quickly include How all these things work we came up here and crude just very recently and rejected that So these are resistance until broken and then you form new ones and so on and so forth But these are what I use for targets and to kind of understand the context of the day on top of you know The bigger picture stuff that I look at so right now you can see we are Above the yellow lug so any any setups I get above the yellow lug I take aggressively So meaning once it gets just outside an ATR 10% outside of an ATR I get in Aggressively I will still short above the Lug So say we get a setup, but I need to see a full ATR a retest a failure and that's what I'm doing here And yes, that's what I have ready to go because we did get The full ATR below here. Here's your retest and if it fails, I will short this Again, I was going to go along this setup when it came in But it disqualified it as along if the market is able to push outside an ATR or more outside of the zone Then the other way trade other direction trade is disqualified. So all I can trade this right now is on the short side So I want there another 5850 So that's locked and loaded We I'm sure of this there was a volume set up here 189 sell ice I Shorted this aggressively just outside an ATR again I follow my same row I have a set of rules that I follow and I do do the same thing every time as best as I can and sometimes I make stupid decisions mistakes, but you know, I cut those down Dramatically over 20 plus years on trading, but I still make some stupid mistakes sometimes But my you know general rules are in place that I do not violate, right? So The ATR right now in here is you can see in the middle of the screen there 3.7 ohm So I got in on this trade just outside an ATR the bottom of the zone was 3850 I got in it At the time it was less than that. So I got in it Three and a half three and a half cents below there. So the ATR was a little less when I got in this trade So the reason I entered this one aggressively is because we were below the yellow right When I for them as the lugs because I don't feel like saying Ludwig level 400 times in a day Again, I say every webinar Ludwig levels comm. She's got a free three-day trial You guys can try them out for free. So you saw I'm on book mat She has special special pricing if you end up getting them But that's what I'm using here. And so I'm we were below The setup was below the yellow lugs. So I take my shorts aggressively meaning just outside an ATR So you can see right here. It's kind of struggling at the baby lug But if we break that this is my target down here It's 1750. So I'll be watching that closely another trade. I'm watching this was crude We have volume of that. We actually had there's actually multiple volume event She had a bunch of stuff here. I do erase those long because something new came in But she had a huge stop run here. So it's almost it was over 300. Actually, it's 320 or something 297 and then you add by ice by ice. So this is actually the a unicorn setup that we call and my one my sixth setup that we just adopted recently Called the stepbrothers so stepbrothers is when you get up by stops and the by ice come in Again, I raised that zone because this new Volume event happened, but you know, this whole area is important put it that way So the way whatever way we finally break out of this area is probably going to be the bigger move I'm leaning more to the downside, especially if this you know This had a chance just to rip here and it did not and we'll go over these on my long return Picture here, but you can see that then this cell ice came in right someone tried to hold it and it was able to get Outside almost two ATRs outside here And then failed now. We're retesting. So the red lug was right here as well So I would not have but that's why I didn't buy this aggressively this setup member before above the old log I get long aggressively unless we're into the red lug Or selling I don't sell into the blue looks so I was waiting to see if it can puncture through that red lug And then build new logs it failed. So now You know if this if this fails and gets below this area, but I just showed you this market is probably in trouble Right in this a market's been very bearish lately. This is basically the whole area here Probably shouldn't go up there, but this and this there's a lot of volume a lot of loaded up traders So I'll probably sit near for a little bit and then whatever way this breaks and I'm leaning to the downside You should get the bigger move. So on the bigger picture This is all stuff that you want to have you know noted in your mind And you just come up these if then scenarios because you never know what's gonna happen But you come up with the scenario as best you can. So when I look at this chart, obviously this looks like a Very bearish market, right? So we had that balance here This is multi weak balance, right? And we just broke down from there and then inside this balance there are other Signals that this market was gonna break down, right? So everything's fractal with balances markets are in one or two states They're either balancing or directional convection and it happens on all time frames. So This right here was a fail breakout Right and then it tried to hold and then we built more balance and actually broke out of that And that turned to be a fail breakout And then the most recent this one. It's just a flat-out breakdown and then you put all those together That's showing you that that's gonna happen. And I think this is our next stop down here. It doesn't mean I don't mean Potentially today, but overall this is I'm leaning more towards this Crew has a very strong tendency to always come back first then go so what you want to do if this does This was a very important zone from if I have zones drawn and they extend there's something back here We'll try to find it But this was an important zone and you can see we got through it and now we're just retesting So this was a support zone once it breaks through now, it's resistant So this is a very good place, you know these zones that that I draw based on the four important areas of charting Which we'll go over to our break places to take trades, right? So the expectation is this should since this night through the zone This should hold and do that if this is able to get through here Well, then I'm looking back to these zones for a potential short and all that is is basically this balance area So when markets break down on a balance They have a tendency to come back to the bottom of balance and then fail or they can even make it all the way back To the high-volume node and fail I have I am known for root of HVN That's just the middle of a balance area where the most trade usually occurred And that can happen as well if it ends up doing this and it gets to the high-volume node Then that is a failed major fail breakdown of that structure and then you expect the bigger move that way All right, so right now this is still looking bearish It doesn't mean we can't post rallies to this in these areas I just showed but you still have to lean on the south side and so Until it shows you something different and right now it's basically struggling in here I can totally see that it doesn't have to come back here, right? So if I get my Lyme event and I'm ready to go and I know this area in general There's some loaded up traders granted this the latest setup here was not bearish So I'm waiting for another setup and I'm not going long. I Will go long this market again, you know cuz I'm a day trader I know the bigger picture is Short, but I will go long if we can get through this lug break through this lug and build the loves But until then I'm still leaning to the short side. So this the latest setup is is bullish But I'm not taking it because we're into the luck So my point is if this fails again, and then I get another setup and it's bearish Then it's go time and I really want to short based on everything. We just talked about so Just a quick rundown of crude and what I'm looking at This is the stuff you have to go through in your head And then and then when things line up and then you get a volume event in your in your favor in the way you think the market's gonna trade then you can trade, you know bigger size and Obviously within your risk parameters in your account, but That's the whole goal Gold is just the stop king of the world. There's just There's got to be the worst traders in the planet trading this market It's nothing but stop runs back and forth all day long. That's why such a chop It's nothing's going on here. We'll take a look at it. You can see the stock one just fired off 307 that's double threshold for gold threshold meaning You know a lot of traders when they get this they're like a kid in a candy store They can't wait to trade these these spikes and they're just trading any spike that occurs, right? You've got to make sure that you are For the selective market you're trading that the volume event is significant enough to trade because every spike, you know is Potentially meaningless you want to see enough volume that is is big for big for that market large size for that market and that's one of the things my my Assign to cater course goes over. I think I cover like 23 markets and the thresholds of each market, right because a 150 in here is a lot or 300 in here a lot 300 in ES is nothing, right? So you've got to know your thresholds for market and I and I adapted those a couple years ago In a few months of watching the all this these setups occurred to figure out. Okay. What's a lot in this market? This is not a lot in this market And two years later since I made that course. They're pretty much all spot on the only one That's a little off would be bonds. I think I had 250 or 300 for bonds I've moved that up to 500 but other than that they're all pretty much spot on and I think a gold I had like a hundred or 120 you can use 150 and go They've moved that up a little bit but other than that I think that was pretty spot on with those threshold All right, so I'm going to mean to put this in case I'm not on the screen which happens all the time I've been making so many errors lately because we got a lot going on in my trade room working on these different trade setups and different tests trade tests of different Setups with the SI indicator zones, so I've been making I'm trying to do it on my account and my auto trader account and in the room It's just the point is I've been making a lot of mistakes, so you can see this blue lug is at 1750 So I'm just gonna put my My bed right down here I'm gonna go a little bit. I'm gonna go about a point in front of that And we'll let that just in case I'm not paying attention and it swipes down there All right, so we are still waiting for something to happen here very quiet actually I forgot to put out my tick strike Otherwise known as waterboarding It's a great one. It's in your favor, but like I say all the time It's not so fun when you get to watch your trade go against you and you get to listen to it, too. That's not It's not very fun. So Let's see here So we these were both pretty close to threshold, right? So you had my threshold for ES stop for stops for the mini S&P are 500 So this one was 456 and yet another one 477 this one We can actually draw that's close enough especially not a lot going on right now since Paul stopped speaking So we'll draw this one and we'll see how the market reacts to here. I try to color code my zones So I know what? What type of setup it is? So I use yellow and white for stops All right, so first and foremost and this was just under threshold, but I'm gonna count it You have to make some judgments sometimes, right? I usually don't go less than threshold always increase it meaning if my threshold for icebergs and ES is 700 Which it is and I keep seeing 1500 2015 I'm not using 700 that day. I'm upping it right so I will always move it up I rarely move it lower. This is like I said, this one was close enough Then I I'll draw the zone on that. So my point is I was gonna short this market and now that is done because Negated because we have a new volume setup So now I can still trade off of this. This looks like it's already an ATR below here That's my members of my room are listening. We're working on a trade More like a proprietary trade for members of my room, but it's based on ATR and stuff. So this is Potential setup for them. Hopefully they're paying attention here But anyway, this was an ATR below here. So now if we go retest failure, I'll short off of this You can hear this is one of the benefits of tickstrike, right? So I'm not watching these markets and I know they're hammering grains, right? And then lo and behold whether this here bounce right off the prior volume of that, right? So I say it non-stop all day every day Real-time volume is the driver of markets and then the SI indicator is you know The king of telling you what's really going on in the real-time line So it's not a coincidence that these market this market just put this in and then came up here and bounced off here So I'm actually waiting for a retest there and then I'll try to short this But back to the tickstrike, you know, this this is why I've been using this product for about 12 13 years And how I why originally was using it is just because I can't keep an eye on 15 markets at one time, right? It's been a lot easier with the SI indicator with the sub chart with the voice alerts You know, so when you get your when you get your When you get it you can come in here and you can program it to say whatever you want, right? So or you can type in whatever you want to say So this has helped me pay attention that things are firing off in other markets But I've always used this initially just to know what's firing off. So you can see they're hammer and wheat, right? It might be a straight shot to 17 there, which is good And then the other reason I'm using it is to help me So these are all the stocks for the indices that these are the highest weight of stocks in the indices for S&P and NASDAQ Which drive which derive the futures right that the futures are derived from them So I know you can use this as part of your trade plan It's just you know as part of your playbook or whatever when you get important areas if you don't see this these firing off Max so that it goes from 1 to 15 as far as sensitivity 15 is you know the most Aggressive selling or buying one is just to fires off every every two seconds, right? So here's an example. This is part of my trade room to like I have this in one of my other channels and see here These are all set for once so they're firing off non-stop I don't have a sound down because I would go crazy, but you can see these these are firing off and Any any kind of buying or selling so these are set for I have these all set at 11 You can see 11 11 11 because I only want to know if there's serious buying or selling occurring in these stocks And that just helps you especially like say if you got a target and you're coming up to the target So you're long and you're running up to the target and these things are you know 15 15 15 15 We probably don't have to get out of that target You can try to see if it'll push through there because you know they're buying the stocks like crazy So on and so forth so you can come up with strategies with this as well, and it just helps you in important areas Maybe trading this set up that is a lot so am I chirping I'm pretty sure this was a short And then I just missed it and we'll look at the lugs But if we were under the log, I would have shorted this aggressively I'll show you what I would have done here if I was short now. You can to trail your stop on this newest setup and or add Gonna be mad at myself if I miss this trade, but it's been my M. All lately is Missing trades and making mistakes. So I'm not very gung-ho trading gold lately. It's just been very hard to trade and that in crude actually since the Ukraine war But you know when you start getting sighs like this, this is you want to be participating We'll take a look at the lugs here I'm sure this is there. What do you know? So that said that first set up that I drew just a little bit ago. I should have been short aggressively Why because we're below the yellow lugs So I should have been in ATR below here and now I would be looking for this as my Target you're gonna see here pride first hand how well these things work. It's probably gonna bounce off there So this is just like crude and the other way remember I said I wouldn't go along crude into the red lug Well, I'm not gonna go short Gold into the blue lugs. So I'll wait for these forming lugs But you saw what happened up here, too This is one of the best setups there is in lugs where it tries to get above the major red or she calls it big red Or big blue and fails. That's usually a sign that it's rolling the other way I mean how good was this trade especially you get your volume set up. That's that's what I do That's what I look for that would have been an incredible trade I don't even look back to see if there was a volume set up there I think that was overnight because it's gonna make me sad. Yeah, I was sleeping but I probably bet there was a volume set up up here So anyway, you have a volume set up here 600 stops. So my rule actually is Because these are such strong support and resistance. I will go along aggressively So remember what I said if we're below the Lug if there's a setup I need to see a retest failure to go long except if we're at the major lugs So if this gets a little lower, I will Stays with this in this zone or within the ATR I will go long aggressively off the 600 lot stop run as a dumb and dumber setup meaning the dumb money puke It's not really not real selling and then rejection So we're gonna keep an eye on this right here ATR is 26.1 you move the decimal place in this case And see right here So we're watching so we know 26 so as long So my point is if some blue lugs right down here, and let's see the exact price And so I can give you the example because the setup was close to the blue lug, but it wasn't actually on the blue lug so 17 12.6, so I just use the two digits less two digits. So let's say 26. So there this can Get below this zone not violate the ATR right Touch the blue log and I can still go along this aggressively So why I'm saying doesn't by the violate the ATR because if this gets Gets outside of the zone by more than an ATR and ATR more that disqualifies a long setup for me like we were talking earlier So my point is this could still move a little lower touch that blue lug get above here And it'd be along for me aggressively. We have not touched the blue lug yet So I will go along the setup but not aggressively I want to wait for the blue lug because that's my rules But I can't go along here if we get a full ATR meaning 26 ticks ATR retest fail, then I'll go along So we'll see how this plays out. Hopefully I won't miss it like I missed the short right there So now as far as yes is concerned. Here's your retest that means this happens non-stop all day every day There's your ATR. Here's your retest. Now if this fails, I will go short ATR in here, my usual long loss of my ATR is up to 10 Right, so this is another thing you got to pay attention to we talk about this every webinar Is you've got to adjust your size based on your wrist. So I mean this is telling me No, so if I get in here, so let's just put this thing because I'm going to short this if this comes back 8350 is the bottom of the zone ATR is 10, right? So I get in an ATR Just outside an ATR. So an ATR would be 70 70 350. That's 10, right? And then I go 10% which is one more 10% outside ATR puts me at 72 50 I don't like shorting into prior zones or you know taking trades in the prior zones, but I will take this trade Again Stop run dumb and dumber That was threshold two Well ATR out at the time And back here's your retest if it fails. I will short right there then my stops gonna go outside of an ATR above the zone Right, and I know what you know a lot of people are saying Well, I don't want to risk 20 plus points on a trade Well, first of all, I don't like risking 20 points on a trade either But the current volatility is telling me that I have to take that kind of risk So I don't get stopped out by random algo nonsense and that is what in 85 to 90 percent of the trade is is random Algo nonsense. So that's why I get my orders outside of random Algo nonsense, right? So we are again for all you Junkies that need action non-stop and want to scalp we are we do have a new Method in my room that we've been working on has been very very very successful. I did a test test trade We needed a certain test trade and I did it on the apex account and we qualified and like, you know It was about a week and I was with a couple errors too So now I have a live account that we're trading more of a scalp trade It's not a I don't like using that word, but it's more of a you know in and out type of trade So for you junkies that need action non-stop What I usually tell people is if you need action then pull up some horse racing while you're trading Don't try to get it out of your trading, but this is more of a you know In you're getting signals non-stop put it that way and that's part of my trip I'm sure I got on that tangent, but anyway If this fails, I will short this all because what I was saying is not all my trades are risking. This is my position trading Strategy, right? So meaning if I get in on this, I'm thinking this market can move pretty, you know Pretty significantly already know we're close It's not really close to the red love, but you know if I end up getting short this market Off of that setup. There's a lot of room to the yellow lug and blue lug that's you know 60 plus points down to that blue lock. So with the with the current volatility I think if this trade setup works, we could make our way back down with a blue lug at 3 Whatever that was 39 20 Yeah, 39 19 So I have different strategies. This one has my position trading. So meaning Again, ATRS 10. So if I get filled on this I've got a risk 10 points above this zone plus the size of the zone So say I get filled on this trade at what did I say was 72? quarter And then a 10 points above this 11 points above this zone puts me at 98 All right, so you can see here Just put this in for visual. Hopefully I won't get filled on that All right, so I'm in at 72 50. I'm risking up to 98. That's 25 and a half points right or 26 points, whatever that is That's a lot But all you do, you know if the valid current volatility is demanding that you let me get this out of here So don't get swiped into this trade It's demanding that you that you take that bigger risk. You just have to cut down your size So then I use my ATR calculator here, right? So and any given trade, you know You put in your count size and then in any given trade you should be risking up max 2% 1 and a half to 2% So this tells me I already know what I need to risk All right, I just said 25 and a half points. That means I could put on a three lot borderline two lot All right, so If this is able to pump to get an ATR above this zone, then this trade this short idea is disqualified, right? The long is already disqualified why because we got a full ATR below this zone So that disqualifies any long setup and I'd have to wait for a new setup to go along As long as this can hold and not get an eight outside an ATR above here. I will still short this market Hopefully that's not confusing Sorry, I don't know where that Scott if you go to file and alerts it should show up there, right? No sure doesn't It doesn't Oh Sway beans No, that's just the setup that just happened. It won't tell me where the sounds coming from sometimes it flashes But I'm not seeing it gets really annoying because I'm getting I'm watching like 17 markets I said like because it'll be alert from like three days ago I forgot to delete and I'm just like searching for where it where it's firing up It's really annoying and you guys are kind of about to experience that I don't know. I thought I thought it showed up in the alerts message, but No, sir, okay All right, so you see here. This is this is very not very big But this is big by ice coming in at soybeans here and then you also had some over here That was threshold that I missed so we're gonna incorporate this and this so this is it. This is an important trading area meaning Somebody was selling it aggressively and the hidden by ice. That's what ice brews are They're hidden orders in the order book because the big money doesn't want to flash big size in the book You know unless it's the liquidity it's the meaning they want to get filled But you know someone came in here right now and put a 300 lot in the elbows Or what run it away from the market if they wanted to get it immediately, right? So they hide their orders with icebergs. That's what icebergs are So somebody was selling this aggressively and they got a mouthful of ice So I mean the point is this area is what is important. You don't know why they're buying using the icebergs You don't know why they're doing it You don't need to know why you're doing it. You need to know the area is important because there's loaded up traders in that area That's all you need to know You're never gonna know why they're doing it unless you're sitting behind the person or firm that is putting on the order Right, it's just you're never going to know why and nor do you need to know why you just need to know There's traders a little up in that area draw your zone and then play your zone with some rules I say this every webinar to for three years, you know, these are my rules this my rules are the art This is the science. The science is there's no disputing. There was almost 500 by icebergs in the zone How I play them that is the art, right? I and this is from you'd be wise to listen to me and at least adapt some of my rules Adopt some minor rules I should say because I've watched Thousands and thousands and thousands of these setups, right? But it doesn't mean you can't come up with your own strategies for this this There's no disputing this you could trade these in different ways. You could say, hey Scott I know this is a really important support zone. I don't need to see one of these. I don't need to see ATR retest failure I don't even need to wait for it to get an ATR out of here I'm just buying directly in the zone and I'm gonna roll the dice on that if I do Trade our every one, right? It's your money. You do whatever you want with it I'm just saying from watching thousands of the until you have thousands under your belt that you've watched You may want to adapt I keep saying adapt adopt some of my rules In in trading these right and I have an edge and I'm successful and it's profitable So there's no but there's no nothing saying that you can't watch enough of these and say, you know I okay certain instances. I'm gonna get in right in the middle of zone or certain instances, you know, I'm gonna wait for You know, I will wait for the ATR retest whatever or you don't use ATR Whatever, but my point is this is the important information how you trade him is up to you But if you're just starting out and don't know what you're doing I highly recommend you follow my rules and there's gonna be traders. This is another thing too So back to my room like we're going over this exact strategy with the exact rules It is just you don't have to think at all It's like if a occurs then you do b c e in and out of the trick, right? I don't care what method I show with whatever rules there will be traders that will screw it up No matter what right, so it's like I say hey you want ATR retest failure to get in the song Somebody somewhere is gonna be like, okay. Here's the song You know, I want to get I'm gonna get in right in the middle and I'm gonna add here and add here like it's just It's just human nature, right so Point as you can come up with your own rules But I highly recommend you try following what I'm doing at first and then kind of adapt as you as you learn What you're looking at All right, so let's see did this get an ATR above here Only got about seven points above there, so that short is still in effect. That is not the right chart Any questions on any of that Bruce it here is 9.71 so that did not get an ATR above here yet So my short is still in play, right? No questions yet Okay, cool. Actually I think crude already came out No, I guess it comes out at Comes out at 10 not that came out at 9 30 on Thursdays on a holiday week But so I guess crude numbers in 18 minutes. So this that's thing It's gonna be very interesting when this number comes out again I'm leaning short for the bigger picture, but we'll see see what happens here So even if something fired off right now, I probably wouldn't put a trade on this regardless something new because The crude number so you got to remember guys when you are trading When a number comes out when somebody's talking like say Paul or whatever, you know F1c interest rate I Whatever that's new information in the market. So I don't care how many zone how How confident you are in the zone or you just drew it and you're waiting for retest New information in the market. This stuff is negated, right? So you got to be very very careful trading any strategy When somebody's talking or there's a number coming out like all bets are off So just remember that if you're playing zones and you get and they don't work through it through a number You know why right? It's new information All right, so this is almost an ATR out of here That is an ATR out of here. So now this short idea is canceled and now I just wait for a new trade setup You know the other thing I keep an eye on is relative volume So you want to see many times you can see here. We are at extreme standard deviation of VWAP. This is VWAP This is the one standard deviation. They call daily value area. This is the one and a half. This is the two Many many many many times Algos will come in and revert these markets Reversion to the mean market or reversion of the mean trades, right? There's many Algos that do that So it doesn't mean doesn't mean every time it does that know when the big money comes in here It disrupts the Algos and it pushes and it continues to push these Algos and it's like a self Like a cycle where you know you get these Algos shorting and the big money pushes it and the Algos puke And the Algos short and the big money pushes it and then that's when we call it a hug Or when it hugs these standard deviations. What is a good judge if it's going to be a hugger or a reversion? We look at the relative volume, right? So the relative volume is low or Not extreme The likelihood of a reversion is very good, right? So you can see here this relative volume isn't great It was it was very good when Paul was speaking surprisingly, right there That means it was over two times normal 200% but right now it's it's about normal But you can see they're all also buying these stocks. So Nothing I'm gonna put on a trade here I'm just giving you an example of you know where you can come up with them more of a day trading type Thought process where you're like, okay. Hey, we're extreme standard deviation What you also want to look for is when you get into these extreme standard deviations and it's confluent with something else So you can see right here right now. This is a really important area in ES All right, so this was This was a couple days trading a couple days ago Whatever Friday when we died, you know, try to get outside here and then died and did one of these This is these are merged days now, but that's what happened on Friday. I do is look at it So this is a very important area and we're here So if the big money doesn't come in here, there is a very very high likelihood that this reverts So I would love to see a short set up right occur right here But I'm just sitting here waiting because again the assay indicator volume is my main driver So I have this all in mind, but I'm not doing anything I'm not just throwing on a short here until I get a confirmation of a mindset, right? That's the way I trade This is very close, I'm probably just gonna exit this trade right here Or at least a couple of them. This is very close to the lug. I don't need to try to squeeze out I know how important these lugs are I don't need to try I'm gonna get at least two here I don't need to try to squeeze out an extra couple points and watch this thing rip back 15 cents on me So that one worked perfectly right usually I missed the perfect trades usually I'm tortured all day long But I caught a trade like this in Sweden just for you to Again, that was the aggressive entry below the yellow lug got in there wrist an ATR above there outside Just outside an ATR caught a awesome move. It's 15 cents. It's equivalent to 15 point moves The same tick value is ES. Do you like 15 point moves in ES? That's the same thing, right? You guys it doesn't matter what futures market you're trading. That's the whole key Why who will because volume runs the show volume is the same It's loaded up traders in ES wheat gold Crude it doesn't matter and if you understand how to read the volume events you can trade any market I know a lot of you love staring at this crappy ES all day long And what happens when you're just staring at one market is you're not getting to trade signals Like this is a perfect example, right? Like I look for my SI indicator signals right here and I'm not getting it But I know we're at an important level where this may die Well, you know, you start to get antsy and say you have the same you're using the same thing I'm using and you're waiting for a setup. You're like, well, you know My rent's coming up here. I haven't traded in two days and I had a setup and We are at extreme standard deviation. So I don't have a setup, but I'm gonna I'm gonna short it anyway, right? That's where you get into trouble, especially if you're just staring at one market It's like you force trades when nothing's really going on everybody on here I'm sure can relate to that right if you're watching multiple markets. It doesn't have to be 1517 like I'm watching right. I just have the bandwidth for that. It's just how my brain works Some people can't watch more than three markets, right? I Don't believe you can't watch more than one Especially if you're looking for something specific, right? So if you're just looking for volume setups, you should be able to watch you should be watching at least three Three to five markets and all you're doing is you're waiting for your volume setups Right, and then they don't happen in that market that day. You have another market You can watch right if the equities are dead that day I I'm moving here. I can trade grains or I can trade natural gas or I can trade crude, right? That's the whole point. We are not staring at one crappy market enforcing bad trades No questions Bruce It's an awesome teacher Yeah, pretty much no questions All right, so I mean there's really nothing firing off here. I wasn't gonna go along this bull trade Got a little bit below and touch aggressively I mean I'll still go along this but we have to wait for what because we're below the old luck What do I have to wait for it Bruce? I'm gonna just start quizzing you since nobody's asking me any questions I'm sorry Scott. There is a question coming in. So I didn't even hear yours So what was yours again? I Just asked What I need to see to go along this setup because we are below The old log what do I need to see to go along this up because I didn't bounce off the blue So what do I need to see if we're below yellow lug in my setups to go along? I'll give you a hit Yeah, you need to see your retracement and then Retest see our ATR retest failure exactly. All right. What's the question? So Sherry is asking how do you know what the volume setup is and I I Know you have an answer for that. So I didn't want to type it all out here How do I know what the volume setup? Yeah, I mean it's something you you came up with your own strategies here from from your own studies Right. Well, it's my own studies guys, and this is not hypothetical stuff. This all goes back Now, you know, I cover this every webinar as well It goes back to me when I was a large trader right back in the day I was a huge scalper meaning I was trading huge size and I was in and out all day watching every tick of the order book The dome all day every day, right? So I know how I used to react when I would get loaded up with a bunch of size And it would move against me back then you can see counterparting meaning you can see exactly what you're trading against And I would watch how they would react if they were loaded up besides and so on and so forth. So these my six setups Are not hypothetical. It's based off of my when I was a large scalper in the mini S&P, right? So how I how I find the volume areas is the SI Subchart SI stands for stop iceberg subchart. This is one of the this is in this MBO bundle if you go to the book map marketplace, I'll just show you guys because I get a lot of questions on this Place right you're going here and it's your MBO bundle, right? So you need this and this gives you All of these different things based on the CME MBO data The MBO data is the enhanced data that the CME is now released for the last I think three four years ago They've released it they released it the general public. Why did they do that for more transparency? Why do they want more transparency? Well, because there was a there was a time period where the Retail traders were dwindling dwindling dwindling right and it was basically shark each shark It was algo versus algo. There was no volume in there I mean the algos exist to take our money to take the retail traders money That's what they're doing. If you guys think there's anything different and you're sadly mistaken, right? so if there's no fish in the pond and it's shark each shark and You got to remember the CME makes their profits on commissions and if there's not a lot of trade They're not making any money. So they probably said again. This is just my Hypothesis and I'm pretty sure I'm right. They said what could we do to get the retail trader engaged in these markets again? Let's give them a little more information. Let's dead, you know Dangle a little little more information for them to give them some confidence in what they're seeing So they released the CME and BL data that is now let you see the icebergs and the stop runs so on and so forth We did not have this information before right that the big money. I'm sure had programs that can read even It was called the MVP markup by price info even with that the big money couldn't really tell I mean they did what book map did so when book map first came out They had a good idea what were icebergs and what were stops based on the order flow and Bruce can speak to that better than I Could but the point is there was a way to kind of figure it out if you had the right algos When this came out they can they can tell with a hundred percent certainty What what the order flows were their developers came out? I'm talking book map now They can tell the with a hundred percent certainty What's going on right and like I said, I think the whole reason they didn't see me did that is to get to participate From the retail trader so the the big money can take your money, right? I mean, yeah, you have more information you should do better But you know retail traders still make mistakes even if you have all the information in front of you, right? So the point is You need this to have the SI indicator, right? And you can see it shows you it gives you the SI sub chart That's what I trade and draw my zones off of you're just asking how do I draw the volume area? That's that I'll show you that again icebergs on chart, right and stops and icebergs on chart That's what you see all over my chart liquidity tracker. We don't we haven't gotten into this It's just showing you I can give you an example. It's it's pretty simple. It's just showing you here Keep an eye on yes, since I have been working in that Actually, wait one second. I was saying well quickly before I get into that So you asked how I draw how I know the area. Well, that's what this shows you right here This is the area So this was the spike you can see it was on chart here And it was down here. This actually ended up being exactly the same Sometimes you're gonna see different on chart versus here because of the just the way the orders come in Bruce again Can speak to that better than I can but when as I trade off of this the sub chart is what I trade off I don't draw my zones off of off of the on chart It does help you draw zones and then I have the sweeps indicator as well, which is shows that you can see these big red bubbles These are actually should have the opposite for absorption This just showed that somebody swept the order book Well, what was the sweep the sweep or the stops right so that's the zone so the way I draw these zones as I find The volume event, which is this you come up here You get your little crosshair and you see where this started a lot of times you got it you know when stops it for some reason it will pick it up You see the spike happen after this started here So just make sure you can see this very clearly this these selling events cause this trigger of the stop run So just incorporate all of this in your when you see these sweeps and these big red bubbles Even though the stop run shows here a little later doesn't doesn't happen that often But when you do you can incorporate the whole thing, but that's probably a little confusing But the point is if you take this Spike incorporate all the price points that happen in that spike and you draw your zone, and there's your zone So this is a perfect example, right what did I just get done saying this this might be a great very good area to short, right And what what I say after that, but I need to see My volume setup. I'm not shorting it. We just talked about this Right. This is what I'm talking about. If you're staring at one market, you're tempted You're like, well, you got this you got this the volume is not even not that impressive overall the relative volume I'm gonna short that. Well, I wanted to shorter too, but I don't break my rules. My main driver is the SI indicator I did not there was no setup there This was not even close to threshold. So I'm not shorting it, right? So if you shorter down here, you probably just you know, you just had to sit through five points of pain in your face I'm waiting for a setup. Now. This is getting interesting because you see where we're coming here This 4,000 areas really really important not to confuse everybody, but this is spot gamma. These are Concentrated options levels, right? So meaning based on his options of spot gamma calm based on his options analysis, he knows where these large Areas of options activity are occurring where these dealers because you got to remember if you go in and you buy You know es calls the dealer is on the other side of that They have to they have to take them and then they have to hedge their positions with futures So you can get go down the rabbit hole of all I mean, it's very very interesting stuff I use these very basic. They are resistance coming into them They are support coming down to them, right? So I just know you know So the dealers are a very big percentage of the trade and they mean a many S&P futures, right? So you know there's going to be activity at these areas and you got to view these as resistance until we can get above Now I have I know where to extreme standard deviation of view app I know we're at a market profile composite that I show you and then you throw in some huge huge Spot gamma levels. There's a lot going here for a short. Does that mean I'm just blindly going to short it No, would you first of all do you want to short if you see I'm buying all the underlying stocks that comprise the indices The highest weighted no to I don't have a volume set up if I get a volume set up Absolutely, and what we're coming up to to throw in just one more thing is the red log that I know are Incredibly powerful. So now if this does one more spike here, we get a volume set up It'd be just outside this but we'd be like plus three standard deviation from view app red log spot gamma levels Volume set up that is an a plus straight and I will I will short that in a heartbeat aggressively, right? But I sit here and wait you got to be like a sniper. You're just you can't be antsy I just what if this thing runs away here and Brentman breaks 20 30 point? Well, then it runs away and breaks 20 30 points There's gonna be another setup. There's gonna be another opportunity, but I'm not gonna force a trade here until I know This is a great area, but what is the greatest thing on the planet for futures trading? Yes? I indicate her so I'm not putting on a trade until I get a setup down here and We and I sit here patiently and wait now. I'm pretty sure we're gonna get something here I'm hoping we can get one huge what I'm guessing is gonna happen here is This that they continue to buy these stocks this pushes up you see a like a thousand lot stop run and That would be an awesome dumb and dumber to short Then let me go tight until then I wait Any other questions person that See what's going on in the house that kind of closes this to the red-lug as well Nasdaq's Now here we go with cl2 remember we said I was saying that that was a good shorting here at this is the number Here's your volume event. So let's just do this quickly You see swipes. Here's your stop. How do we draw the zone? Pick it up where it started you can see these swipes as well Starting just before this spike But I want to include these because you could see the little buy bubble and then sell sell sell this is what triggered the stop So I'm gonna this bubble here. I'm expecting to stop right any minute here in the S. By the way, so we'll see See if I'm right And then we want to incorporate all the prices that happen in that spike Down in here. So you see why this tick strikes important. It can get really annoying. Don't get me wrong It's really important though because do you really want to be shorting? I don't care even if a set up come in do you want to be shorting when they're buying? See how these are all max buying close to it 15 is the max. You don't want to be standing in front of that I mean wait for it to subside The other thing I want to show you guys is the edge and you can see this in my trade room as well It's one of the perks But this is the edges close to overbought as well. So now we have that so we'll come back to that let this kind of And then so you can see this is like a delayed dumb double whammy What's a double whammy that the dumb money stop run into the waiting hands of buy eyes? So you see the cell the cell stop We'll come back here because this is an area and I think it's gonna potentially fail So we finally got a set up. I'm gonna delete these zones. These were pre-market zones and NASDAQ Let's delete that and then I'm gonna draw this and I'm waiting for something to yes as well You See the bias coming here almost 200 thresholds 150 so this is a go You can see the heavy selling here and somebody took them Right. This was a hidden order. Someone thought they're all You know big guys seller and they try to swipe it and they ran into a mouthful of buy ice So does that mean the bias is always right? Absolutely not. We actually have a distinct setup called broken ice The point is the area is what is important? Somebody's somebody's heavy short. Somebody's heavy long, right? So when we move out of here You're probably gonna get the big move and I know this isn't right near the red lug too So I'm hoping this fails and I can short this aggressively But right now, you know, if you're looking to short, you're like, well, I'm gonna wait for these things to die down I'm not gonna you know These are the stocks that drive the indices that drive the future so you've got to know what's going on here again All this stuff. I'm showing you is on my website Skaplesini chair comm you get discounts to everything So go check that out. Yeah, I've put yeah, I've put your links into the chat for and an email, etc for In YouTube as well as in discord Scott Cool, thank you. All right. So you see where we're at, right? I mean, there are so many things working for this potential short if this if this Bosses if it doesn't fine, then I can go along too and I now I have my volume set up All right, so I'm gonna let this area. Tell me do I want to go short along? I prefer I want it to be a short. Does that mean I'm just gonna short? No I'm gonna wait for this. I need to wait for this zone to fail So per my rules at the red lug. I will take shorts aggressively outside the zone So what does that mean again ATR is thirty six point five six? So thirty six seventy five So how do we do this find the bottom of the zone you can see twelve three forty nine So I'm gonna go thirty seven points outside of there Thirty six seventy five So that puts me at twelve Twelve seventy five that is where I will short this market aggressively and I know That's far away. That is what the current volatility is dictating for the way I trade when I say Twelve I say twelve twenty five Yeah, that's where I will short that I Can we put on to it too might be too many right? So it's thirty seven point when I say thirty thirty six thirty seven points below if I get filled on that I got to put my stop thirty seven points above that seventy four plus the size of the zone So that's eighty four points that I'm risking on this trade Well, that's what that's what the volatility is telling me I need to risk, you know according to my rules So now we come over here. Let's see if I have the right size on Would I say eighty four points? So I can put on a two lot right this is another perk of my room You guys get this don't email me asking for the spreadsheet. It's one of the perks of my room So you guys got to remember my room is a paid room, right? So it's like, you know, I can't come on here and then give everything away that we're the guys that guys that are paying for The information What the hell am I paying for right? So please understand not a lot You know, I give you guys a lot you can you you know, you can trade on your own with the stuff I'm giving you right but there's there's definite perks of my room that you get that's part of the paid surface, right? And you know, I work hard at what I do and I'm I give I can't tell you I mean how many emails I get asking why would you give this information out? Are you crazy blah blah blah? You know why because I am a jaded trader I have PTSD from getting blown out of the game being a millionaire to zero and not be able to make money in the markets after I told you I was a big scalper, right? So my goal in life is literally to arm retail traders to fight against the big money that makes me feel good It makes me feel awesome when traders make money. So that is my driver. A lot of people don't believe that I don't really care. That's why I do it and when I teach it helps me to it helps me stay grounded I don't lose my mind because I have a very strong Potential to go on tilt and break stuff when I'm losing I don't do it so much in my age now But I used to it just keeps me ground was I'm on a webinar. I can't lose my mind, right? I mean I can but I look like a fool So it just helps me and helps me to talk things out too So that's one another reason that I teach. But anyway, you can see here This is another perk of my room, you know, you get your real-time Squawk stuff and then this is called the edge. So this is showing me that right now out of the 500 stocks That comprise the E-mini S&P Almost 300 of them or 73 point five percent are above their five-minute market profiles are called that task boxes That's what it's a task product. You got TAS. You guys can Google it. This is not available to the public right now I'm not sure why so you can see over here, too This is all the same stuff that I'm looking at on my computer So anyway, the point is when you see this stuff over but over the 67 percent line You want to be very very very careful of initiating longs until this thing pulls back Right kind of like right at the open you see this this was oversold What happened at the open when that was oversold? Oh, let's take a look. That was 835 central 835 central right there. Hey, what happened rip, right? So be very careful If you have this product or you're in my room, they all know this you don't want to be initiating longs when this thing It doesn't mean it can't go to 100% it could it's very rare, but we saw like Friday That was a rare day, too. We saw this thing hanging at 90% for like an hour. That's never I've never seen that but Majority of the time high high percentage of time you get a spike and then the market will pull back Right, it's because you get it's just like a reversion trade You get these elbows that fade the the excess of this. So the point is this is overblot I know we're an important area if somehow some way we can stay within an ATR on the zone I really really really really want to short this so All right, so let's see what happens here So remember if this gets a full ATR above this zone this short is disqualified then what will I do? Well at that point we're probably gonna build new lugs That means we'll bust through the red lug. That's right here We'll have new logs when I then what I would like to see is the full ATR a retest of failure and then I will go long But for right now as long as this can hold inside of an ATR I will short this puppy back down here Any question Chris? Yes, lots of questions that popped in here so Hold on a minute Yeah, JC first off everybody Scott is basing the ATR off of the five-minute candlestick chart that he is Accessing and think or swim. So it's just a very simple. It's just a 14 period It's it's it's just default 14. You see it right there ATR 14 Wilders Yeah, if you Google ATR Wilders This was originally like for a daily type trade like he would use a 14 day period So it's just based on 14 periods meaning it's just basing it off the last 14 five-minute bars and the volatility, right? That's all that's all it is and it's default. I don't guys. I don't change much right like I don't even with the market profile You get guys that are cutting off like tails and stuff like that. I just let things be as they are I want to see things as you know, almost everyone else is seeing them as far as you know Trading wise and and I just come up with my system based on that. I don't change stuff I you know, you'd be amazed like I I'm showing people like we're working on this trade in my room and you know Back in the day, we would be talking about the ATR and some guys would be like well Why don't you take a moving average? Subsets of the ATR with them like for what reason like you guys don't have to make this complicated I can't tell you how many traders do that. Some of you guys are too smart for your own good and it's hurting your trading The more you try to add to your trading Most likely almost almost every time the worst you're gonna do because you're gonna get conflicting information The more you need and the reason traders do that, you know, I gotta do is re trading in the zone It's because you're trying to make something Trying to make it more Can't think of the word Sure, like The you think the more things you add to your trading the the more sure of the trade you're gonna be it doesn't exist guys Trading is a probabilities game Yes, you have an edge But even that edge like I have an extreme extreme edge and I know it and it doesn't work all the time You see it all the time you see my P&L. I have drawdowns too But I know like August was brutal, right? That was a terrible late July August was a was a was a Pretty big drawdown, right? But I know with the edge. I just keep taking my trades You're gonna have this and then your P&L will look like that, right? But it's a probabilities game. So I don't care what you add to your chart You're never gonna get the for the for sure trade. And so this is starting I'm sorry, I'm glad I'm stopping right there because I don't want to get on it my usual tangent So that did not get an ATR above here, right? So this short idea is still relevant So you may say well, why do you gotta wait till long there because my system makes the market get outside of a full ATR For me to take the trade Just make sure that's right. Is that right 50? Yeah 37 yeah, that's right Guys this is from trial and error I just don't throw random numbers up and be like, you know what I'm gonna just go outside and a tear It's from watching again Thousands of these setups and I determine. Hey, is the best place to just jump in right in the middle of the zone Do you don't think I tried that might right when I got this and I guarantee Half of you people that get this traders that get this are gonna try that right away. Why I don't need to wait for that I'm gonna get in right here, right? Okay. Yeah, you might get lucky But trust me I've learned the hard way of just jumping in the middle of zone That's why I have the rules. I have it's from trial and error of getting my head kicked in for a while, right? So yeah, you can short right now There's enough going for you going for this where you can be aggressive right in the zone and do whatever you want to do I wait Per my rules because I've seen in enough times. I enforce this market to get a full ATR out of here before I short Next question Bruce Yeah, hold on. There's a lot So guys Scott's email is in here and his links are in here and YouTube also in discord so if you want to reach out to him or you want to Find out more about some of the courses and some of the things he's offering. They're in there and let's see The right here before you ask the question I'm making this one big zone because you had to stop run and then you had to buy ice and that literally stretch from this is this is a hundred points on guys, so it's like It is what it is. I got do I wish it was a hundred points I wish it was a 10 point zone, but it's on her points out So if you want to trade this particular setup You've got to you've got a risk, you know ATR outside of the zone So now you're saying you got a risk, you know if ATR right now is 41 So you're basically risking a hundred and forty a hundred and eighty points 180 ticks I should say if that's too much then you just pass up on this setup and wait for another one There's another one right around the corner, but you know, you can't make the market do what you want to do I'm gonna get rid of this so I so Hey But this is the zone of what just happened in here So you can bet whatever way this market move in this dig in ATR But this dig in ATR above here. So you see this right? So this was an ultimate double whammy. What's the double whammy? It's the dumb money puke in to the waiting hands of buy ice right or The other way so that in this instance was a sell stop run into buy ice There's your ATR. There's your retest So now I could go along this setup Pretty much can only trade on one line. Oh, here we go with this thing Bring it back here in a second So quickly so I don't miss this trade in my room better or caught the other trade that we've been working on Or I'm gonna be very upset with everybody you're gonna get verbal lashings in the PM webinar 40 42 41 I go 10% so 45 ticks out of here. I can go long this So that's 51 83 51 So remember I know I said I wanted to be short Does that mean I force my will on the market and just short just because well this volume setup is a is bullish So I'm not why am I I'm not gonna go short the real-time buying Which is the most important thing that you can look at is telling me this is bullish. It got an ATR above here Here's your retest if this triggers. I'm going long Right see how that works The problem is with this I just remembered we're right by the red lug. I think So I may not take this unless the relative volume. Yes, you were right by the red lug So let me see what the relative volume looks like the way time I will take trades into the major logs that the relative volume is extremely elevated Yes, it was elevated here was almost four times, but now as we approach the log It's not elevated anymore. So I'm not gonna take that long right now, right? So as we're moving up here closer, hopefully I didn't get just filled in good filled there It's only normal. So I'm not gonna go along here. I did get filled of course. Alright, so I'm just out I'm not taking that long right now. You guys if you make a mistake get out of your trade Don't sit there and hold it and hope it comes back. I can't tell you how many it's probably over $9 that I've lost like making a mistake and then Waiting hoping it comes back so I can just scratch a trade and then watching this and then losing huge money Just get out take your loss move on wait for the next trade So I was gonna go along that but the red lugs right here the relative volume is not impressive coming into that red lug So I'm not taking a long set up off the subs. So I'll just wait. Oh if this is truly bullish It's gonna bust through and form new lugs. There will be another setup and I'll go along on that one But I can't go short this because we already got an ATR above here That makes sense. All right. Go ahead Bruce. Sorry No, I'm sorry. So no, this was a while back at Adrian I One of the adreans in here that your lead lead week level had changed but Any any way just wanted to mention that Well, they don't change they they'll form new ones. They don't change the new one. Yeah, I'm sorry. All right Maybe oh, yeah, maybe we're saying yes. Let's see. Yeah, I think so yes is there. What about thank you? I Don't see them. Okay. I forgot to restart my seer. I don't I'm not sure There you go Okay, so we do we do have new lugs. So what does that mean now? I can't short this aggressively I was still short it. I was but I I only I short aggressively off of the red log We obviously have new lugs there That is weird that the change I see I got a through Sierra chart You got to restart this every morning and I forgot to restart it. So this could be one of the reason or it's not refreshing on its own Yeah, so yeah, I got new lugs in both markets. I mean, what does that mean? Well, it just means I'm not gonna go I was gonna go short and he set up aggressively off of the log Now you got new lugs. So anything that comes in now I want to see ATR retest failure ATR retest failure because we're dancing around the yellow luck and Q it is above the yellow lug So I could go short I could go along this trade aggressively If we're dancing around it, then I wait for ATR retest failure the way if we are firmly above it Which is this firmly above it then I can take this now I could take this set up aggressively To the long side because we're above the yellow luck. So now I just do the same process 33.14 so I go 10% on an ATR. So puts me at 36 quarter Points so 36 points above here puts me at 96 50 96 75 I can go along this market So if I do that then the red lug, I just want to make sure Red Lugs not too close Yeah, red Lugs have at 455. So if I go along there It's still not a great risk reward trade as far as you know because I could stop at the log but I will take that long for For a move up to 455 And then we haven't really looked at this stuff today just to get a bigger picture of you So they're going over this I go over this every day in my room But I talked about this buying tail and then we do this I thought The day that this buying tail was put in some buying tails tails either way our instant rejection, right? So when this market instantly rejected I expected the market to do that and I tell my room I said this is just sitting here if this gets back below this this tail This thing was gonna do that well it did sit there, which I thought was kind of strange But it ended up launching out of there and then it came down. Just put it in other tails So now what we're coming to actually is you want to pay very close attention that red looks right in here This is gonna be actually a very good short opportunity Once we get in here why this is what this zone is for you see everything that's happened in this zone This is another thing you guys want to learn to drop Then one of these days I'm gonna put out a course on this. I've been working on like so many different things, but Get directional conviction directional conviction Directional conviction down selling tail breakdown Selling tail directional conviction down very very very important zone and it's a you know It's a pretty wide zone doesn't need to just short it blindly, but this is 408 up to 460 465 where was that where was that red lug 455 So if this market continues to move straight into that zone any short I'll still go along in the stuff that I just showed you but this is a very important zone where this market could fail easily So in another instance where I'll be aggressive I don't care what the lugs look like up here if I get a signal in here I'm shorting it aggressively as I know how important this zone is right So pay attention to that zone and it looks like we're going straight there So I will go along right now, but I'm watching that for the 12 for 50 I've area that's the that's the lug The other day where we broke down from me and caused that huge directional conviction. I just showed you this just another way looking at it, right? That's right there So important it may not even get up there. I mean you still have this This market profile composite needs to get through but if it does get through that this is gonna be a very good short opportunity for me All right, anything else No signals in the S but there was a question about Your thoughts on Who's making the majority of the trades in there, you know market makers hedge funds institutions retail Don't care. I Honestly, don't care. I care about That's just like asking. What do you think they're doing? Are they are they hedging are they you know They're hedging options. Are they getting out of positions? I don't care and neither should you it doesn't matter You're never gonna know the why waste your time even trying to figure out why it's the area is that is what is important I don't care if this by ice area or this I Don't care if this by ice area was somebody hedging somebody getting out somebody blah blah blah. I don't care I know there's two sides of the trade I know somebody's wrong here and somebody That's what causes when you get these volume events that are above the threshold That's what causes the big moves out of there. It's basically disguised puking out their positions, right? So that's what I pay attention to You're never going to know what What this is or why they're doing it unless you're sitting behind them watching them trade, right? So don't waste your time know the area learn how the markets react to these areas and what the tendencies are and then You have yourself an edge. This is the greatest edge. You can possibly have in futures trading I've said it about 4,000 times and I'll keep saying it Yeah, I mean I think Scott like your answer about like, you know, you don't have to be an engineer to drive a car and know how a car works You know all the details you just need to know how to drive the car Right, so or turn on a life is mine. Yeah Yeah, the light bulb analogy I use that every webinar right you walk in a room and it's dark Do you need to unscrew the light bulb and break it break it and look into it to see how it works? Or do you just want to flip the switch and know that you have light? It's like I know that's simplistic. I try to use simplicity and everything that I do I mean, I am a pretty simple man. I'm just kidding. But I mean, you know, I don't think I'm a nine-set I don't think I'm an idiot either but I do know The simpler you make your trading the better you're gonna do right kind of like how simple was this one? by the way The lug work down here and we remember I got out right there. Oh, yeah, that's that's a 11 cent swipe up from there. You see where I got out. That's why I use my lugs like guys SI indicators number one lugs are closed second as far as Reliability and targets and so on and so forth there. I just said that you can you should see my room I can't the room just like I can't believe these things. What how does that work every time? I don't know her inputs Very once again, I know they work I don't usually put anything in my trading that I don't really understand what it is, right? But you know, I tell the story all the time You know one of my guys that I met her with the SI indicator stuff kept telling me about these things and he made You know 1.5 million dollars in like two months. He started out trading micro So it wasn't some big trader to start with but he just kept seeing the same thing over and over and over kind of like when I took off as a trader I kept seeing the same thing over and over and over in the order flow and One of my gifts was it feels the same to me whether I'm wrong, you know right or wrong with a one lot versus a thousand lot It's not about the money It's about being right or wrong if you can get to that point in your in your trading mindset That's when you can really explode and make huge money because you're not trading off of the money You're trading off of what you're seeing in the market and about being right or wrong So anyway, he kept telling you about these things for months and months and months And I finally looked at him and I'm like then I watched him for months and months and I'm like, okay These things are ridiculous. Then we got Pamela Ludwig. I did a webinar with her You guys have access to that if you don't just tell me I it's in this room. It's all over the room I've said it about 50 times. If not email me. I'll give you a link to that And she's actually part of my trade room now. So she's in there all the time and you know She says what she sees a lot of the times and she's also saying hey roll your lugs to the new month So it's very Convenient having her as part of the room as well Just participating, you know, she doesn't do even though I'm trying to do get her to do another webinar Which I think she'll do shortly but anyway That I was just showing you how powerful these things are And when you can use them in conjunction with your SI setups, you have an extreme edge If you were just to wait Granted, I'd say two percent of the traders on this webinar could be that patient If you just waited for lugs with volume setups, and that's the only time you trade is at the major lugs You would be an extremely extremely successful trader The problem is most people aren't that patient and then they see something else They want to do something else and this and this and this right But if you if you have that kind of patience, if you just wait for volume setups at the lugs, you will do very well Any house Bruce Uh, no, I think we're pretty well caught up here Yeah, um, so not really anything going on now See what happened here in gold probably mr. Trade So I'm gonna get rid of this one because this was Most recent one was this So where we said where I was looking for I wanted to see a little swipe lower to touch the red lug And I would have gone along aggressively, but it didn't so because we're the below the yellow lug I wait for ATR retest failure. Well, this is definitely an ATR 20.7 so 21 ticks right the top of the zone was 62. So we needed to see 83 as an ATR That got an ATR. So now all I need to see to trade this Is that's that was your ATR? I need to see a retest failure and I'll go along right there Does that mean it's going to retest? No, they don't retest every time Again, this is from my personal experience. I don't have the exact stats from watching thousands of these My estimate is 80% of the time it'll come back and read especially in certain markets like gold and crude and natural gas It's probably more than 80% of the time it'll retest the zone. Well, what does that mean? Well, 20% of the time it doesn't So if you're looking for a long and you're like all excited to go long and it doesn't retest and it goes like that You're gonna miss the trade, right? So you have to just decide. What are my rules? I know my rules are below the yellow log. I wait for retest if it doesn't and it does this Well, that sucks onto the next trade, right? Because I have my rules as you're going against algos You have to try like an algos, right? Algos don't say well, my rules are waiting for a retest, but I'm just gonna Yeah, I'm just gonna go along anyway That's why algos make money and most retail traders No, because they have rules and they follow the rules So if you want to beat the algos, you have to trade like the algos And you know, I know there's traders out there that have watched Many many of my webinars and I say the same thing over and over and over one Because it's important and I want to throw it into your heads too. There's always new traders on here So that's why I go over the basics all the time And it's good to go here the basics all the time because you forget you think oh, yeah I forgot that I should be doing that. So that's why I repeat myself all the time And some guy emailed me This was like two months ago, probably longer than that and he's like I would I think I was doing the webinar for apex the funding again, just go to my I'll just I'll show you guys I do this every time So here all this stuff is this comes right Apex traders sink. This is the journal stuff. You guys should be using something like this This is the best one. I've seen tick strike spot gamma rhythmic This is just to get the the feed for your cme for the nbo did it. Anyway, I had a guy email me and he's like Because I sent on an email about the apex webinar I did one about talking about the funding and what you guys should be using something like that if you're testing out strategies Or you're new do not be blowing out 10 20 50 thousand dollar accounts as you're learning use one of those It caught yeah cost a fee, but it's not like you're losing, you know, it's very it's You know Nominal versus what you'd be risking if you're wrong consistently while you're learning something But anyway, he emails me and his exact words were all great Webinar do we have to hear about how you made millions of dollars and now you were the greatest trader again? It's like First of all guys, I'm not bragging that I made millions of dollars One is well, it's good to try to learn from somebody that actually was successful But I'm not a million dollar trader anymore, right the reason I'm not a million dollar trader anymore Is because my trading style disappeared when I was dead just scalping staring at the trading dome all day long It doesn't get much simpler that well that just all went away when the algos started to take over the volatility at the time This was like 2006 2005 When the volatility started to dry up and then the algos took over it was impossible and it's still impossible That's why I don't scalp. So anyway, I'm not bragging. I'm just the reason I'm telling you guys I'd be bragging if I still had it, right? It's like if it was still that easy for me. Yeah, I'd be bragging I'm trying to Teach you guys the lessons both good and bad of what I've gone through the trials and tribulations So that guy can go screw himself if he's on here. Sorry for the language, but that was pretty insulting It's like I'm not inter bragging I'm trying to teach you guys the rights and wrongs of trading that I've gone through for 20 20 plus years good and bad So anyway, I thought I just throw that out in case he's on here. I'm giving I'm giving him the finger to my screen Sorry, Bruce. That's not family oriented. But that one that one kind of bothered me. It's like I'm you know, the wealth of information I'm giving you guys from from my errors to even live like my trade room What these what the traders are getting out of there. They're seeing me raw live on cut every day You know making mistakes Getting mad going on till like I almost went on till yesterday because I was I kept getting I kept making mistakes and freeing orders were in the order book And one of my other accounts because I have so much going on and then every single one of them is against me Like I never look over and be oh, I made a mistake there. I had an order in the book. Oh, wow. Look at that That's 80 points in my favor. No, it's always against me. So things like that, right? So when I'm doing this live It's you know, it's for you guys to learn good and bad like wow, I don't want to do that or that's really good information So the point is that was really insulting one other thing I want to point out here um, you know, this was us Let's see why this isn't showing the quantity on the swipe. That's interesting Try going up to yeah, it should be no, I could see it's because I'm colorblind. I couldn't see this You can also you can go up to the dimmer on the on the heat map up there And then slide it. Yeah, and then you'll see it All right Okay, so what I was pointing out here, we don't trade off of these yet. This will be in my new course We'll talk about this one of these years. I can put it out But this was 1600 somebody swiped 1600 emini s and p futures here swiped them down, right Nothing showed up here This is the sub chart stuff. This is so, you know, it wasn't a swap a stop run. So All swipes all stops are swipes not all swipes are stops and you can see right here This was a swipe that was not a stop run. Does that mean it's not important? No, this is an important area too where you could potentially trade this zone You draw that you can see it clear as day right there Whoever somebody got loaded up Somebody had some orders in the order book that got swipes wherever it was long here was like Oh crap, which just happened there and it worked out for them whoever swiped this Well, it's not a good good decision because the market did this But you can see it's the same thing as the sign indicator zone. What happened? Hey, we moved back. What did we do? We retested Let's see right now. I don't know if it moved away much, but Guys, this it's all about volume. It's all about real-time volume. I mean, look at that Look what happened there and that's bouncing off that area again You can use this in your trading as well. This is why book map is absolutely incredible It's why I do these webinars because this information is you do not if you're not using this You do not have all the information. I don't care how great of a trader you are It would be who have you to know. Hey, somebody just tried to swipe down and push this market with 1700 contracts and they The market gave him the finger right and then look what happened Right moved away retest moved away retest So this could be this could be part of your trade plan I look for huge swipes and I wait for the market to To violate those swipes and then I get in or I play those swipes once the market moves away retest and then I get in Right, the opportunities are endless in here guys. That's why I said this is the science. The art is how you trade them All right. I'm running out of gas. There's not anything going on Um I will watch this zone carefully in naz naz deck We did good. Let's see if we didn't get an ATR above here. ATR is 29.54 We got up to Pretty much 79 The top of the zone was six. Yeah, so we only got about 19 points above here So remember I was going to short I'll still go along this aggressively because we're above the old look But if this breaks down and we go 29 or 30 points below here and we do retest failure and I'll go short This and that the whole reason I'm waiting for retest failure is because we're above the old look That's why I would take this aggressively and this conservatively Hopefully that makes sense All right Bruce. There's no other questions not a lot going on here Pretty much all I did was that we trade and that wasn't even on I didn't know that on the webinar But you know some days you guys this is just trading, you know, if you have your system and you have your setups and you wait for This is where I make mistakes by the way for getting orders in the order, but um Then you just don't get a trade there. You know some days and you don't force stuff. You just say Okay, nothing going on today. I'm gonna go golf or whatever Yeah, yeah, no guys, I mean the same old questions are kind of popping up again and again about ATR and Ludwig levels. So like I know you've answered it Scott. It's you know, Ludwig levels.com And then ATR it's off of the five minute candlestick chart. It's the wilders 14 guys if you came in late, that's it But like we're just going to stop it at that. Um I think that should answer the questions and if you have other questions, you know, I put the links in there in the chat you can see the You know scott's contact information or his websites, etc. Like he showed So, uh, hopefully that'll answer your questions. Uh, other than that scott. No, I think we're we're all set here You got a lot of smiley face a lot of smiley faces and laughing crying emojis after that last rant Which one where I told the guy to screw off That one yeah Yeah, pretty pretty much because I'm a I'm a person too. Like I'm a human being right? It's like Even trading like I get emotional and stuff like that. It's just that's just human nature And you don't want to my last thing my last small rant is you don't want to try to continue your emotions You hear all these trainings. I'll just say the same thing, right? Like you have to acknowledge your emotions You don't just pretend like they're not happening But you got to keep yourself in check and just know if you're following your rules At the end of the day, you now judge yourself by your p&l You judge yourself on whether you followed your rules or not You're going to have days that you follow all your rules and it's going to be a loser. You can go to bed feeling Satisfied knowing you did everything right that day. Just the edge just didn't work out. That's what trading is Just like a casino They go to bed the ceo goes to bed Sometimes are these casinos and a whale came in and waxed him for five million bucks Does he flip out and change the rules of blackjack the next day? No, he knows The odds are in his favor the math's in his favor. He has an edge The casino has an edge by the end of the year. They will be profitable. It's the same thing with this You're going to have bad days as long as you follow your rules Controlled your risk. It's on to the next day on to the next trade on to the next trade And you will make money if you have a discernible edge and this is a discernible edge And that's what i'm trying to show you guys So i'm watching this closely now if this can bust through here Make new lugs If i didn't want to go long off this setup, maybe i just canceled that order I didn't because i didn't realize where were the lugs But say nothing else comes in here, right? This was that monster double whammy This bust through we form new lugs and this comes back retest fails I'll go along off this setup and or anything new All right, so keep an eye on crude here So this so this you know, this is an important zone. Like I said, if this can get through this zone here Which it looks like it's going to and then you want to pay close attention to this zone right here Where this broke down from this is going to be a good shorting opportunity if not there then Any of these zones in this high volume though? This market is still bearish the best trades in this market have been waiting for retests of the areas You can see every single one of them has been absolutely amber So you could just say i've incurred i'm just waiting for retest the zones to short I'm going to short into the up moves, right? All right, so I got Do this every day in my trade room twice a day So if you know you guys want to learn that's the place to come We got some cool trades going on in there too and shorter term trades like I've been talking about so All right. Thanks for having me bruce. I'll see everybody Next Thursday All right, excellent. Thank you scott and uh, we'll uh, we'll see you then Thanks. Talk to you later. Bye