 Hey guys, testing, testing, can, can everyone hear me clearly? Alright, can everyone hear me clearly? Give me a second. Okay, I'm back. Testing, testing. Hey Alex, nice to see you again then. Right. Okay, well, we got quite a big turnout today, right? Hey, is this a portrait in a Volod mirror? Yeah, get a name right, Volod mirror. Nice to see you guys tuning in. Hey, clear. So guys, you should be able to see a chat section there. So you're going to see me, you're going to see me send a message through, right? You can actually choose a dropdown between everyone and hosts and panelists, right? So you can, you can choose everyone instead so everyone can see your messages. It's more beneficial when, when everyone's able to see each other's questions. Nice to see a whole bunch of you guys around, you know, asking each other's questions too. Hey Richie, right? Nice to see you tuned back in again. I've seen you around in the previous webinars. Nice to see you back here. Okay, okay, that's great man. I see quite a number of familiar names over here, right? Is anyone here for the first time? Right, or has anyone been to my webinars before? Right, has anyone been to my webinars before? Right, let me know. Hey, hey Carmen, right? First time here. Nice, nice. Welcome. Welcome to the webinar. Welcome to the webinar series, right? Hey, all right. Nice, nice. Jeffrey, Robert. It's, it's, it's, it's at one. Is that how you pronounce the name at one? I'm not sure if I got a name right. Jasper. Hey, nice to see you guys here. We've got Prince, we've got Mustafa. All right, a lot of first timers here. A lot of first timers here. All right, I'm pretty, I'm pretty sure it's French, right? At one, it should be French. Right, just, yeah, I took some French courses in the past, but my French colleagues told me not to butcher the language. I try, I try. Antoine. All right. Okay, George. Oh, from beginning of the series, nice. Nice to see you tuning in all the way. Right, we've got Celaco. And we've got Yulissa. Nice to see you guys here. Good stuff, man. Good stuff. Let me see. Okay, I've just let the rest of the people just tune in. Let me just move my stuff around. Okay. Hey, Ashka, nice to see you tuning in. Right. Today's webinar. All right, today's webinar is the ultimate. I got tongue tight there, right? It's the ultimate forex trading masterclass. Okay, in this masterclass, we can teach you how to trade forex much better in a much, much more in-depth way compared to what you find on stuff like Babypips or Forex Factory. Right, we kind of take things up a level. And today we're actually touching on a really interesting topic, right, because when it comes to a trade, you know, we put in entry, we put in stop loss for take profit. How many of you guys, right, how many of you guys have a fixed stop loss? Meaning that when you take a trade, you use like 50 stop loss, 50 take profit. Maybe you guys can share with us in the chat, like how many of you guys use like a fixed stop loss and take profit level. Or if you don't, let me know, right? Are you a fixed stop loss guy? Are you a dynamic stop loss and take profit guy? Ashga says he never uses a fixed. Winston says one is a tree risk reward. At one dynamic and fixed dynamic. Alex is dynamic. He don't, Jeffrey uses a fixed stop loss and take profit. All right. Okay, guys. Dynamic, dynamic. Oh, most of you guys are dynamic. It depends on what the trade and the strategy. I'm glad to see quite a number of you guys say that you use dynamic. Okay, and in today's webinar, I'll be talk, I'll be showing you. There are many situations where sometimes you get stopped out and the market goes in your favor. And then you're thinking, oh man, you know, why, why did the market stop me out? You know, is it, is it being manipulated, right? You know, am I being stopped hunted? You know, why do I get stopped out and the market just goes in my favor? And they are the way around where it just misses your take profit by a bit and it goes to your entry, or maybe it goes to your stop loss and you get pissed off, right? So today, in today's webinar, we're going to address some of these things, right, from an institutional trader's perspective, right? What are the lessons I can teach you guys to instantly improve your trading profitability, right? It's all down to stop loss and take profit placement. Okay, now, of course, for those of you guys who are here for the first time, right? A quick introduction myself, my name is Desmond Leong, right? Three tips to better stop loss and take profit placements I'll be covering today, right? I also run the, an award-winning research firm, Everest Fortune Group, right? We're finalists for 2019, 2020, 2021 for best effects research and 2020 and 2021 for best equity research. If you guys want to find me on Instagram, I think I have my handy dandy pen over here. You can find me at Comfy Desmond, C-O-M-F-Y, followed by my name Desmond, right? Comfy Desmond, if you want to find me there. Nothing much, it's just mainly me, my cat, my wife, and my newborn kid, right? So you can find me there on Instagram, right? Not much, I'm not like those Instagram traders and stuff, so it's pretty tame stuff there, okay? But if there's anything I want to share with you guys, right? You can tell I'm pretty young, right? And it's not like I'm 30 years in Goldman Sachs or 30 years on Wall Street to be a profitable trader, right? You just need 30 days learning the right stuff and you can be a profitable trader, right? I've been there, done that, right? And if there's anything I want to encourage you guys that, you know, when it comes to trading, right? It's not like the world of academia, right? And this is a mistake that we... People who are very smart, a mistake that they tend to make is that in the world of studying, in the world of academia, the more you study, the better you do, right? It makes sense, right? You know, the more you study, right? I read this book on maybe statistics, the more I read it, right? The better I'm going to do. But in the world of trading, it's very different. You can read and can read and can read. You can read all the stuff on all the forums, all the different trading wizard books, market wizards, right? And you can still lose money, right? Because in trading, the first thing you need to do is you need to understand that it's very different from the world of academia. They're not positively correlated, right? In trading, you can learn the wrong stuff, which is the dangerous thing. You can spend three months learning some funny strategy that some funny guy created in his basement and you can lose money, right? So that's the thing with trading. You can learn the wrong stuff, okay? So it's very important to exercise proper discretion when it comes to trading. When it comes to trading, learn the right stuff. I've seen people who've traded for 20 years, right? And they're still unprofitable. If anyone dedicated the same amount of time to studying one subject out there, they'll be a professor, right? They'll be a professor, you know, they'll have like their own doctorate degree or something like that. But if you spend 20 years, people can spend 20 years studying trading and still lose money. And the reason is because you can learn the wrong stuff in trading, right? But if the great thing about that is that when and if you learn the right stuff, right, you can become a profitable trader much faster than many people. And that is what I'm good at. That's what this trading masterclass is meant to focus on, right? We have a special partnership with TickMeal where we bring you guys the good stuff, the juicy stuff. My team, you know, you provide research for banks, for brokers, right? Treasury departments, right? We work with the institutions and we're showing you guys from an institutional perspective how you can, you know, be a better trader, okay? Now, let's a few key places I want to point you to, right? A few key places that I want to point you to. I keep repeating myself. Give me a second, right? A TickMeal YouTube. So when you search for TickMeal YouTube, right, I'm going to give you the channel. We do have a handy dandy channel over here, playlist. This is one of it. I think we can use this. Oh, no, no, this is the wrong one. It's this one. I'm going to send you this list, okay? Go check it out. Right? So it contains, if you missed the previous webinars, because quite a number of you guys mentioned that this is your first webinar, right? Please go tune in here, right? I teach you quite a bit of the introductions. Technical analysis 101, fundamental support and resistance, right? So some pretty fun stuff that you can go through, okay? If you haven't got the time, please go through it, all right? So this is one of the key things that you want to do. The next thing is you want to go to TickMeal.com. You want to go to client tools, webinars. Under webinars, right? Scroll down, scroll down. We have next week, same time, same place. We have another Ultimate Forex Trading Masterclass. I'm going to send it to you guys here to go register for it, right? But it's something we should put you onto a series. We will continue to add onto the series for more and more people to come in. Next week is pretty fun, right? It's actually a live trading session, right? Hopefully by then we will have our VIP room ready for you guys, right? But it's a live trading session where we can actually take on the markets together, right? If you have questions on the market, if you have questions on trading strategies, you can ask it. I can help you diagnose it there and then. So it's pretty fun stuff, all right? Pretty fun stuff. Those are the few key links that you want to take a look at, all right? Now guys, I do want to encourage you. If you have questions, please send it throughout the webinar. All the daily analysis on Mr. Patrick on behalf of TakeMeal. All the daily analysis on Mr. Patrick on behalf of TakeMeal. Could you repeat that question again, Ashgai? It sounds like a statement more than a... Oh, all the daily analysis, right? I believe when you go into a... Where is it? A technical analysis. The technical analysis blog, you know, you can see who is the author below. Most of it is kind of me. We've got Olek, right? Once in a while, we've got Mr. Patrick Munele. He's a great guy. He's really, really one of the best traders I've seen, right? But yeah, you might even find him in the VIP room when it's ready. But you can come into TakeMeal blog. You can see some of our trading ideas over there. Okay? Now, let's continue on to the webinar... Yeah, to the session. All right, guys, once again, I want to encourage you guys. I literally have another screen that's open over here just to take your questions. So anytime you have a question, don't wait until the end of the webinar to send it through, send it right away so I can answer it. And of course, right, feel free to just talk and send messages throughout the entire webinar. Otherwise, you'll feel like I'm talking to myself and they'll be very sad, right? So yeah, you know, you can tell I'm a very chill guy. Anytime you have questions, don't worry about it. Just ask it, right? I'll do my best to get to it, right? I saw a question by Robert. I don't know what's the dynamic of fixed top loss really first time for you. No worries. I will do my best to explain it to you over here, okay? Now let's begin today's session. A few things we're going to talk about, right? First, fixed stop loss and take profits, right? Fixed stop loss and take profits. What's the right way? What's the wrong way? Let me talk about dynamic stop loss and take profit placements, a few ways to do it. Risk allocation. How much should you risk on the trade, right? I will really, really debunk some of the myths over here. I do a lot of size to trade. And we have a giveaway at the end. We have a nice little giveaway price at the end, right? So do stay at the end because I'm going to give away some of the pretty awesome trading tools. Mako is asking, where can you access the slides you're sharing on the screen? Well, you can access it on YouTube once it's uploaded. You can access it on YouTube once it's uploaded. Now, stop loss placement, okay? Stop loss placement, right? So when it comes to trading, when it comes to trading, one of the mistakes that people tend to do is that they focus purely on the entry. They are so focused on the entry, right? They say, okay, this need to be done, you know, HMO goals, stochastic, supported resistance, right? Pivot point, what parabolic are, you know, they have this checklist requirement that once they have checked off all of those things, then I'm like, okay, where's my mouse? All right, you know, check it off, check it off, check it off, check it off, check it off. Now I'm going into my trade. I'm going to an entry, right? But once it got into the entry, there are stop loss and they take profit. It is like an afterthought, right? You're like, okay, you know, I'm just going to throw a stop loss and take profit there. That's about it, right? But the truth is your entry, your stop loss, your take profit are all equally important. They are all equally important, right? And there is, of course, in advanced trade management, which we'll cover in the future, there's break-even, there's partial profit, there's idea and validation, there's cancel trade. It actually goes a lot more. So when I'm taking a trade, I go into, where's my entry stop loss when I take profit? Where's the level I go break-even? At what level do I take part of my profits out? At what level do I invalidate the idea and try to get off the trade as quickly as possible? And what level do I cancel this trade? So in a trade, it is actually a lot more complex than just your entry and your stop loss and take profit. Today's webinar will be focusing on stop loss and take profit, which are two of the really, really big things which are often misunderstood, right? Alex Gump, right? How recession has led to central bank rising rates? I will answer that towards the end of the webinar because that is more, that is not related to the trade management question, but if I have time at the end of the webinar, do remind me, ping me again, I'll try my best to answer it, but I do know the answer to it, all right? Okay, so I lost my train of thought. Entry, stop loss, take profit. Yes, okay, so one of the problems, one of the problems that you often notice is that when you go into a forum, you go into a forum, you go into babypips, you go into forex factory, you know, you go into one of the, what's some of the, they got a tree duck trading system or keep it simple system. They have all these different trading strategies there, right? When you go into one of it, right, you'll tell you, okay, when you have a moving average crossover, let's for example, for example, right, you have a moving average crossover, 100 pips stop loss, 100 pips take profit, right? You let the trade work in your favor, right? So they have this kind of trading strategies or there are some trading strategies where you have 10 pips stop loss and your take profit is just one is to three, right? 30 pips take profit. You just multiply it by three times. Some of you guys, you know, when you take a trade, you know, you put your stop loss and then you're like, all right, my trading mentor told me that I need to have a risk reward of one is to two. So if I'm risking 10 pips on my stop loss, I need 20 pips on my take profit, right? So those are some of the things that the retail trading world kind of feeds you, right? To believe the wrong stuff, right? It's like drinking the Kool-Aid, right? It makes you a bad trader by doing that, right? I'll be showing you why in a moment. We got Lungil saying, what do you do if you have a very small account? Most of my trades reached the stop loss and then it's a reversal and it's my TP. Already lost my money. I lost much credit in my profits. All right, so yeah, this is where I'm going to answer you. Why does this happen, right? Why does this happen? Why do you have an entry over here? Let's say you're expecting prices to bounce up. This is your take profit. This is your stop loss, right? Why does this happen? Why does price come down, touch your stop loss and then go up to your take profit? Why does this happen so often, right? And it's not something that is not an observance that only I notice. Everyone happens to notice this thing, like why do I get stopped out and then price reverses my favor, right? It's almost as if, you know, this is all stock hunting market manipulation thing, right? You know, there's smart money and stuff. There is some truth to it, but let me explain it to you the psychology on why it happens, okay? Let's go to this. This is a chart I live and die by, okay? If you notice that there's a major resistance, right? Let's super simplistic terms, right? You know, price has reversed off this level one time, price has reversed off this level two times, right? What we should do is our stop loss should always be beyond. Put your stop loss beyond the key level. In this example, I'm just using swing highs. Some people use Fibonacci, some people use Elliott Wave, some people use a harmonics, but in this example, I'm just using swing high resistance, okay? When you notice there's a resistance, what we do is you put our stop loss slightly beyond that level, right? Because what happens is that price tends to be attracted to this area, has a lot of fighting around this area, and then it goes down. So what most people do is that they put a stop loss right at this level, or they put their stop loss slightly before. So they get knocked out of the trade, and then price goes down. The opposite is true for take profit, which we'll touch on later, right? Let's just say we notice price bounce up once, bounce up twice, and bounce up three times from here. So we know that this is a very strong support level. Okay, it's a pretty strong support level. What we need to do is we need to put our take profit slightly before. Stop loss is beyond. Take profit is before. We put it slightly before this key level, because what we want to do is we want to get out of the trade before the fighting occurs over here, because when price comes to this level, a lot of fighting can occur. It can reverse from here. It can reverse from here. It can reverse from here, right? But there will be fighting here. Anytime there's a key level, this is what I call magnetic levels. Magnetic. I'm going to draw a magnet, right? I think it looks something like that. It looks quite terrible. But yeah, it's a magnetic level, right? And you got, you know, it gets a trex price to it, right? So this can happen in the other way, you know, a trex price, right? And then, you know, there's a whole stopout level. Everyone gets stopped out over there, and you want to put your stop loss slightly beyond to give yourself that little bit of breathing space. Eduardo is asking, does this happen for both short and long positions? Yes. In this example, this is a short position, because short position, right? Our stop loss is higher. Our take profit is below, right? For long positions, your take profit will be over here, right? Your take profit will be before, and your stop loss will be slightly beyond. Okay? In this example, it's a short position. All right. Now let's go into some examples, right? So let's imagine this is, this happens way too often, right? This is a record in one of the charts, one of the trex that we looked at. We notice that there's a nice little support level over here. Price bounce off once, price bounce off twice. Two pretty nice bounces, okay? We look at this as the entry, right? Look at this as the entry. The moment price breaks out from this level, we decide, hey, we are going to buy, and we expect prices to go all the way up to here. So I'll take profit over here. Our strategy, right? Our strategy that we saw on Baby Pips, right? Our strategy, you know, says that use a fixed stop loss of 100 pips. Okay? As you can see over here, use a stop loss of 100 pips, which is right above this nice little support level over here, right? This yellow thing is our stop loss, okay? These yellow things are stop loss, easy? Right? So these yellow things are stop loss over here. I'll take profits all the way up here, okay? Now, price then drops. It drops, it drops, it drops, it drops, it drops. It touches your stop loss. You can see it touches your stop loss over here, and then it bounces up. Does this seem very familiar? Yeah, your stop loss is the yellow thing over here, right? This is familiar, right? You know, price stops you out, and then it just goes in your favor, right? So what you need to do instead, what you need to do instead is to have your stop loss. You should place your stop loss slightly beyond a key level of supportive resistance. Put it slightly beyond as you can see over here. So that allows us to give us a little bit of breathing space, you know, when price is fighting around here, right? To prevent yourself from getting stopped out, okay? This is a very, very important rule. It's often overlooked by many people, right? Because price always tends to be attracted to this level. Price tends to get attracted to key levels of support and bounce off them. So you can see over here price really got attracted to this level, and it bounced up from there, right? So we put, if you put our stop loss, in this example, if you put our stop loss at 100 pips, right? So this is a problem. When you put it at 100 pips, you are just blindly placing it at 100 pips. Do you think, do you think the market will look at your trade and say, you know, hey, Mr. Lungu, right? Looks like you have put your stop loss at 100 pips. I am not going to stop you out because, you know, it's at 100. No one likes to go to 100, right? No one ever does that. The market doesn't care where you put your stop loss, right? The market doesn't care whether some guru that you've learned, you know, drives a Lamborghini tells you that your stop loss is at 100 pips, and hence he will not stop you out. The market doesn't care. Remember, the market can stay irrational longer than it can stay liquid, okay? So in this case, one key thing that you can do is to put your stop loss slightly beyond a key level. Okay? Lungu is asking, is it advisable to move your stop loss? No, it's not advisable to move your stop loss unless you're moving it closer. You're tightening your stop loss slightly better, right? There's no point moving it further away because when you're moving it further away, it's one of the worst things to do, right? That means you are, you know, you're playing, you know, you should never move your stop loss further away, okay? I should try not to. That's bad risk management, okay? Now, back to here. Take profit placement is the same thing, right? Take profit placement, I see one big swing high, two big swing high. Remember what I said? Put your take profit before a key level, okay? Before a key level over here. Now, the reason for that is because of this. Let me just show you to you over here. We got price. React off one time. React off two times, okay? Now, imagine if our strategy requires us to have a fixed take profit at 100 pips. So, this is our take profit right up here. So, this will put our take profit slightly beyond the strong resistance level over here. So, we are expecting prices to go up from here. We're expecting prices to go up from here. What happens next? Okay? If we place our take profit here, you know, you notice that price went all the way up to here right before the, you know, 90 pips, not 190 pips, then it dropped all the way down. So, this is a perfect example of what can happen, right? Price reversed right before your take profit because you put it at a key resistance level. Price tends to panic every time it reaches this level and it tends to reverse, right? So, if you put our take profit slightly before, you know, we would have got a profitable trade in this scenario. The lesson we need to learn is don't blindly, don't blindly follow a fixed take profit target just because, you know, some forums told you to do so. Okay, let me see the example over here, right? You can see this price shot up, means I'll take profit and then I went back down because price tends to reverse of big areas of resistance and support. Okay, I'm just going to, I'm back, right? So, yes, this is, this is for take profit placement. Now, any questions so far? Okay, we got a question from Yulissa. In most cases, you do it on a H4 timeframe and daily. Well, not necessarily true, right? I do do it on the H4 timeframe. This is universal, right? Meaning you can apply this on the H4 timeframe, you can apply it on the one-day timeframe, you can apply on the 15-minute timeframe. The laws are universal. Meaning that this chart that you see over here can be a H1 chart. I could tell you it's a H4 chart. I could tell you it's a one-day chart. But the resistance levels that you identify, you know, as long as you obey the same rules, resistance level on H4, put it slightly beyond. Resistance level on H1, put it slightly, put it slightly before, right? Your take profit slightly before. Remember, take, where's my rules? Stop loss beyond take profit before. If you need to write that down on a post-it note, please do it, right? It will help you be a better trader, okay? Hey, hey, hey. Now, guys, one thing we're gonna do next, right? I'm gonna come down to here, right? A take profit placement. So this is another example, right? Big swing high resistance. Big swing high resistance. So we got a long position over here. You notice price tends to go all the way up. Price tend to reverse off before a big resistance level. So you notice that imagine you got this much of the trade correct. You got practically maybe 90% of the trade correct, right? You got 90% of the trade correct. And then it just reverses right before your take profit is, you know, you just missed your take profit just by that few pips. It happens so often, right? You think about it just happens so often, right? But in this case, always put your take profit before any key resistance and support level, okay? Some of you guys were asking, what is a dynamic take profit placement, right? Let me show you an advanced way. We will cover more about this in the future webinars, right? When I go into Fibonacci, when I go into Elliott Wave, I go into harmonics, I go into Fibonacci confluence. But let me just show you what I mean by this. Usually maybe this is a normal trade, okay? We have our entry over here. We have our stop loss over here. We have our take profit at the swing low over here. Okay. Let me show you what dynamic take profit placement is. I'm not sure how many of you guys have used Fibonacci before, but if you have used Fibonacci, it is a great way. It's a great way to forecast your take profit and stop loss to fine tune your stop loss and take profit placement, okay? Now price has entered here, okay? Price has been triggered and now we expect prices to drop. Our original stop loss is our original take profit is over here, right? So what we do is I do a Fibonacci projection starting point over here, middle point, ending point. This might not make sense to you, but just let me show you what I mean. And then from there, I got a starting, middle, ending. I have a 78.6 Fibonacci projection that comes to here. My take profit would then be moved up to here. So I would then move my take profit point. It just comes up to here. I put my take profit, you notice it's right before a key level, okay? Then from here, what happens is that price drops down, drops down all the way, touches the take profit, you know, and then it bounces up. How far does it bounce up? It bounces up all the way. This is what I mean by dynamic take profit placement, right? Don't just put take profit at a key level, right? If you know how to use Fibonacci, which I'll be teaching you guys in the future, this is a great way. It's a great way to really fine tune your take profit. So even though you're putting it before, you know, you know that instead of just putting it before a key level, I need to put it before the 78.6 level, right? That really helps you fine tune it. There are many ways you can fine tune your take profit. I'll be teaching you guys more of it in the future webinars, right? But this is already a great way, right, for you to be able to fine tune your take profit and not let, you know, you don't get, you know, you don't, the price don't reverse right before you take profit and go all the way to hit your stop loss. All right, this is a great way to fine tune it. Now, moving on to the next part over here. Risk allocation, I love this, I love this part, right? I love this part on the risk allocation. Okay, now, can you guys tell me how much do you usually risk on a trade? Please send it in the chat section. How much do you usually risk on a trade? Rodelio is saying, you know, go one to two percent. Richard, one percent. Jeffrey, two percent. Okay, Meckel, one percent. Eduardo, one percent. Man, you guys are really, you guys are really conservative traders. One percent, two percent, three percent, 0.25x5 percent by Andrew. Edison, five percent, right? Okay, wow. Really good risk management review guys here. Kubena, all right, Richard, one percent. Carmenita, one percent depends on the capital, right? It does, it should not depend on your capital, right? It should not depend on your capital rather. Ulyssa, at 10 percent, we've got a risky trader here. Alex said three percent. Okay. Taifun, three percent, one, three. Now let's go for a scenario here guys, all right? We got a roulette table, right? Not sure how many of you guys been to a casino roulette table, but basically what happens is that you have a nice little ball over here. You get spun. There is, there are 18 red, there's 18 black and one green. As you can see, black, black, black, red, red, you know, red, red, red and one green. The probability, if you bet on black, the probability of you being correct. If I'm not wrong, it's about 48 percent. But about a 48 percent chance being correct and a 52 percent chance of being wrong. Okay. I am giving you $1,000 to gamble. I'm giving you $1,000 to gamble. Okay. You have to, you have to gamble. And you only have, you only have one chance to take a, you know, to, okay. You only have one chance to take a trade. How much are you going to put into this? How much are you going to bet on black? I just want to get a gauge on everyone's risk level. All right. We got Tafeun at $100, which is about 10 percent. Michael putting about $20. Okay. That is correct, Richard. Good, good trading mentality that you shared with everyone at $1, $10, $18 by Rodelio. Very interesting number. 20 percent 200. All right. $18. Yeah. I wonder how to come up with $10. Okay. Quite a number of you guys are betting on the slightly lower amount. Okay. We got Robert with $10, Eduardo at $10. Right. Okay. Mostly you guys are actually risking about 1 percent, which is about $10. Okay. Now, now guys, let's, I now have a special roulette table for you guys. Okay. Okay. So most of the people here bet about anywhere, $10 to $20 with the odd numbers being maybe $100 here and there. I have a modified roulette table. This is my new roulette table. It has 32 black, four red, as you can see, four tiny red and one green. You have the same $1,000, but you only get one chance. How much are you going to bet on a roll of black? Anyone want to take the guess? I'd rather just share with us your answers. Guys, anyone want to share how much they'll be betting? We got Kristoff at $100. Well, Carmen going in big at $300. Prins now $100. Richie going $500. The rest, right? $800 by K-Foon. Michael still $10. Right. Still bad. Less than $10 by Richard. Well, I've got $500, $500, $600. Alex in the $1,000. I thought you were going to bet. Okay. Oh, yeah. Alex is in the $1,800. He's a large probability of winning. I love the mathematical side of you guys. Much bigger numbers. Much bigger numbers. Right. At $1,000, $80. I think it was $10 previously. Now it's at $80. Right. So you've got $500. We've got $800, $200. We agreed that most of the bets now are bigger. Most of the bigger bets. Richard, you only got one chance. I'm only allowing you to roll one chance on this roulette table. Okay. Just. And then once you roll on this magical roulette table, you will go back to, you know, 18 red and 18 black. Are you sure you only want to raise $10? Are you sure you only want to raise $10 on this one magical roll? Okay. Now, guys. One chance to roll it off. $1,000. Okay. Michael is saying an interesting point. How you bet is becoming a gamble, not a trade. Now, here is the interesting thing about trading. Trading is a game of probability. Gambling is a game of probability. They are both games of probability. Right. It depends on how much of an age, how high your probability you are on being correct. Okay. It depends on how. Yes. There is luck in trading as there is luck in gambling. There's always the element of luck. There's always the element of probability that you can never account for. You can never say something is 100% correct. You cannot look at all the analysis, right? And say, all right, this is 100% going to be correct the same way. That is why in this example, I did not do 37 black and zero red and zero green. I didn't do it in this example because that will mean you have 100% chance of being correct, which does not exist in the world of trading. You can be super duper confident, but you can never be 100% confident. But what you can be is you can be super confident based on your analysis. So when it comes to trading, right, you must think about trading like in a law game of probability, like in roulette, right? You have one checkbox. You have two checkbox. You have three checkbox. You have four checkbox. You have five checkboxes, right? So one checkbox is there a trend line. Another checkbox is there support and resistance. Another checkbox is that itchimoku can go heal. Another checkbox is there Fibonacci. Another checkbox is there an oscillator, right? So when you're trading, maybe if you only have one checkbox, right, you have a low chance you don't even trade. You have two checkboxes. Two checkboxes, maybe it might be worth risking 1% on this trade. You have three checkboxes. Now it's maybe worth 1.5%, right? And four checkboxes is worth 2.5%. Three checkboxes worth 3%. No, five checkboxes, then you go for 3%. The more checkboxes you check off, right? The higher your chance of being, you know, of having a profitable trade. That is the thing you need to come to terms with. When it comes to trading, right? The game of trading is not binary. It's not 0 slash 1. It's not 0 slash 1. The game of trading is a case of 0 slash 1 slash 2 slash 3. That means you don't take a trade, but when you do take a trade, how much are you getting under the trade? Don't risk the same amount for every trade. When a trade like this, if one day I go into, if I go into a roulette table, I see a blackjack like this and I have $1,000. I'm going to dump the whole $1,000 onto it. It's a freaking good trade. And you should take full advantage of it, right? I mean, in this case, we have a very, very high probability. But in trading, sometimes you have a 60% chance of winning or 40% chance of losing, right? Sometimes you've got a 70% chance, 30% chance of losing. But if you have, you know, a 40%, 60%, stay out of the trade, right? Unless your risk reward is, you know, great. That means you, for every, you know, $1 a bet, you get $10 of returns, okay? So hit rate and risk to reward go hand in hand. But just to take note off that when it comes to trading, how much you're risking on a trade depends on how nice the setup is, all right? Don't just randomly risk any amount on the trade, okay? Now let's go on to the next section over here, right? A ideal lot size. You know, in trading at empty for, right? You can pick a lot size. What is the ideal lot size to trade? Anyone want to take a guess? Anyone want to take a guess? What is the ideal lot size? Okay, Rodelli was saying it depends. Ariel was saying it's two lots. Michael was saying it's 100 lots. I didn't know 100 lots is huge, man. Alex was saying it's 10. Jeffrey was saying it's one. It depends on the size of the counter. I like the answer. Stop loss and capital depends on the capital. Okay, some really good answers here. Standard 20, right? Okay, couple of answers here. Okay, good stuff. It depends on the capital. That's right. I love your answers, right? So it actually depends on the capital. I cannot tell you that the ideal lot size is 10 lots, right? So it depends on the risk, right? It depends on the size of the capital. Exactly. I like the answer by Qabana, right? It depends on the risk. Someone said it depends on the stock price too, right? Yes, at one, that's correct. Yes. So it depends on a couple of things. It depends on a couple of things. Let me show you what I mean. Okay. Let's just say we have an example over here. We have our account size is $50,000, right? 1% of the account is 500, right? 2% is 1,000, 3% is 1,005. You know, I have a 50 pip stop loss and I got 90 pip take profit, right? What do you want to take note of is that, let me see if I have it over here. How much you risk affects the lot size you trade, right? Notice that if I put in one lot, right? I'm putting in one lot, I'm risking 1% of my account, right? I'm putting in 0.1 lot. I'm risking 0.1% of my account, right? If I put two lots, in this case, I'm risking 2% of my account, right? But how much you risk affects the lot size you trade and that also affects based on the stop loss, okay? Based on your stop loss distance because if I got one lot here and with 50 pips at one lot, if I get stopped, I'm going to lose $500. If I have 100 pip stop loss all the way up to here, if I got a 100 pip stop loss, right? And I put the same one lot, right? I end up risking $1,000 on the trade. So remember, you need to know what is your stop loss distance, how much you're risking. You know, once you combine these two, then you decide what is the lot size you're on the trade. Okay? Then you decide what is the lot size you want to trade. Now, I got another question for you guys. Which trade is more profitable? Okay? This is setup A. 50 pip stop loss, 90 pip take profit. Andrew, we touched on that a little bit. Remember, 50, 90. Shucks, did I have it here? Oh man, I missed that one slide. And then, okay, we got 150, 90, and we got one, sorry, 20, and we got setup B, which is 20 pip stop loss and 36 pip take profit, right? 36 pip take profit. Which one is better? Which one is going to make you more money? If you're risking 1% on the trade, right? We got 50, 90. We got 50 pip stop loss and take profit and 90 pips. This is setup A. I got setup B. We got 20 pip stop loss and 36 pip take profit. Which one is going to make you more money when you risk 1% on the trade? See, a couple of answers come true. Okay? Okay, a couple of answers come true. Let's see if I can log in here. Okay. Some of you guys are pretty quick to pick out that it is equal, right? Because 50 divided by 20, oh wait, no, 50 divided by 90, sorry, 90 divided by 50. 90 divided by 50 equals 1.8, right? 36 divided by 20 equals to 1.8. You notice both will give you the same. A will give you 1.8 as your risk to reward. B will give you 1.8 as your risk to reward. They're both the same. So it's not about the number of pips you made. It's the risk to reward of your trade. So sometimes on telegram, you know, you go into those telegram group chats, right? You go into those telegram group chats and you have people saying, oh, I made 100 pips. I made 1,000 pips, right? Any time you see someone say that, trust me, they have no idea what they're saying, okay? Run like the wind because they clearly are trying to sell the Kool-Aid. They're trying to sell the dream. You know, people, they're trying to sell to people who don't understand the concept of risk to reward, right? If I told you, I made 100 pips. I had 100 pips to take profit. It hit my target, but my stop loss, my stop loss was 1,000 pips. What do you think? You'll be looking at me and you're saying, are you crazy? Right? That's a terrible trade. But if I hide away the stop loss and I say, guys, look at my trade, 100 pips, people think it's great. But how much did you risk to get the 100 trade? That's important. That's an important thing that not enough people talk about. Right? So I want to teach you guys, right? If you see people, if you see people on telegram, right? On Instagram talking about like how many pips they made, but they don't talk about the risk that they took to make it run like the wind, okay? Run like the wind because more than not, these guys don't know what they're doing. Okay? Yeah. All right. So what I'm going to do here, we have a little price. All right. We have a little price which I'm going to give you guys, right? It's a pretty cool trade manager. I'm going to show it to you. You search for best empty for trade manager, the forex army, right? The site that I have, right? We are number one on YouTube, right? As the best empty for trade manager that is in existing currently, you know, you can select your entry. You place it anywhere you want. Let me see if I can open the image in a new tab. Okay? Select your entry. There you go. Put it anywhere you want. Select your tick stop loss. Move it wherever you want over there. Select your tick profit. Move it wherever you want. You can use up to two partial profits. You know, I can put one partial profit over here. One partial profit over here. Okay. Break even if you want, you can move it anywhere you want. Idea and validation, right? This is advanced. If you don't want to use, you know, you can move your trading stop loss anywhere. If you don't want to use something, you can cancel off the tree. So this is the level where it's canceled off. Once you're done, you adjust your resetting. One, two, three percent, the system will automatically calculate it for you. Okay? The trade is placed. You can move it up and down easily. Move it up. You know, you can move it up, move it down. You can move it up. You can move it up. You can move it up. You can move it up. You can move it up. You can move it up. Move it down. However you please, it can easily be done. Right? If you don't want to use any of the bars, right? Let me see if you have it here. Yeah. If you don't want to use any of the bars, you can close them off. That means you can click a little cross at the top to remove them. This costs money. But with a special partnership, we've taken it just for today's webinar. We're going to give it out for free, right? If you just want this version, if you come on here, right, the food trade manager, you'll notice it's actually going to cost you $148. Okay? Just to get it. What we're going to do now is we have a special promotion with TickMeal, right? One of the best that I've ever seen. Okay? All you need to do is to send an email to webinars at tickmeal.com, right? And send a CC to my email, personal email, personallzwatgmail.com. The subject title should be webinar review promotion. Okay? Read the webinar from one is to five. Five being the best. Add in your... Tell them what do you like about the webinar? Okay? What do you like about the webinar? And what is your TickMeal MT4 account number? If you don't have a TickMeal account yet, please tell them that I will open one, right? And as long as you have a TickMeal account, live account, we will activate it for you. Okay? So this is the only time ever in history where we're giving it out for free, right? It's $148. So it's actually pretty expensive. We are converting it for MT5. So if you want, you can send it in first, right? We will convert it for MT5 in the next three weeks if I'm not wrong. I mean, the process of converting it, but it's a little bit tough, right? But yeah, we're converting it to MT5, right? And oh yes, at the end of it, could you just write a smaller sentence, right? The sentence is, I allow, I allow my, is there a way I can type this out instead? I allow my review, I allow my review to be used for marketing purposes. Yeah, to be used for marketing purposes. The reason for this is because we are trying to, we are trying to accumulate some reviews for our webinars, right? To start growing our VIP room, right? So we were trying to, you know, maybe I can just type it inside there. Let me just type it inside there for you. Discard, right? Just come in here and see. I allow my review to be used for marketing purposes, right? So just send this room. I'm going to copy and paste the email for you guys to use. These are the two emails. Yeah, it can work on, it can work as long as it's on MT4, it will work, right? Thank you, Aero, right? Yeah, I know it's amazing, right? It's honestly like, let's, sorry, this is my figma file, right? Just let me find my, yeah. It's honestly, like I said, you know, you search best MT4 trade manager on YouTube, it's number one result on YouTube, right? For the obvious reasons that is the best trade manager out there. It has all these tools to help you be a better trader, manage your risk, stop loss, entry, take profit placement. Aero uses, it works on MT4. It doesn't work on MT5 yet, right? That's why it's an MT4 trade manager, right? I'm just going to show you the subject title over here, right? The subject title is webinar review promotion. This is the subject title and this is what you need, right? If you can write a longer review, they'll be very, like, you know, adding slightly longer part on what do you like about the webinar, right? They'll be great for us, right? If you're great for me, if you're putting my name, they'll be great too, right? And we send you a free TFA, MT4 trade manager activated for your account. Okay, guys, right? I hope you, yeah, it's no, if you want, you can also add in some part on what you like about TickMeal, right? For bonus points of, right? For bonus points, you can add in what you like about TickMeal, the trading conditions, right? We rarely ever do this. You've been, if those of you guys who have been through all my different webinars since the start, you know, this is the first time we're actually giving up such a promotion. Otherwise, in the previous webinars, we don't even give any of this, right? But it's because it's a one-off thing. We are looking to collect some reviews to help us with a lot of marketing, right? So please help me with this, right? Rich is asking, how do you use the Fibonacci to fine-tune the take profit and stop loss, right? Let me see if I can throw in a, I'll throw in a chart for you over here, charts. Okay, guys, you know, you can send in your questions. Anytime you have questions, just send it through, right? I'm just going to answer some, some more advanced questions as they're coming in. So for example, right? I'm just looking at this trade over here. I hope it works out, right? So let me see, let me see. Entry is right there. I'll show you how you can use it for stop loss and take profit, okay? So in this example, let me see if I got a nicer chart for you. Okay, so to do proper Fibonacci, let me do H4, to do proper Fibonacci, right? Fibonacci uses this thing called zigzags, okay? In this example, we might be thinking this could be a nice take profit level, right? We could think this is a nice little take profit level. Fibonacci on trading view, there's this thing called trend-based fit extension. You click on it, right? You click on my, click on the top here. It allows you to pick three points. One point, two points, three points. Now I'm going to zoom in here, right? I'm going to zoom in here. You notice that there is this, I'm going to make it slightly thicker. I'm going to make it super thick. I'm going to make it dots. But you can see there is this little dotted line that is supposed to follow prices very closely. The more closely it follow prices, the better, right? Fibonacci projections, there are three main Fibonacci projections that you use, right? It is mainly 61, 78 and 100%. In this example, 61% is already touched on. I'm just going to look at 78. You notice that my 78% Fibonacci projection is down here. So there's a chance that price will come down to here. There's a good chance that price will come down to here. So having my take profit here is okay. However, if after drawing my Fibonacci, maybe my Fibonacci projection is over here. So instead of proving, sorry, it's over here. Instead of putting my take profit over here, I will move it up slightly to be in line with my Fibonacci. So this is an example by using Fibonacci projections to fine tune it. Usually the danger is when your Fibonacci projection is just slightly before your key level. In this case, my key level is over here. So I need to move it slightly higher just to ensure that my take profit is hit. All right, guys. So yeah, I hope that answers your question on how you can use it to fine tune. We had a question at the very beginning of the webinar. Let me just find it back. At the very beginning of the webinar, asking how, by Alex, Alex is still here, right? Yeah, Alex is still here. He was asking, explain how recession has led to central bank raising rates. Okay. Oh, okay. And the stop loss, right? Let me explain the stop loss. So stop loss placement, right? Same thing. So imagine, let me think of an example, an easy example. If this is the entry, right? If we were saying that price is going to bounce from here, right? Price is going to bounce from here. Let me think of another example. Okay. I got an example that we can use. Let me think. Let's just say we take a trade over here. We take a trade. This is our cell entry. Okay. Let's just say this is our cell entry. Bam. This is our cell entry. Okay. We expect prices to come down to our take profit over here. Now, where is our stop loss, right? So usually you might be thinking, okay, I'm going to put my stop loss. Maybe look at price broke out from here. Or maybe price broke out from here. Let me see. Got it. You can say price if you zoom in. Okay. I'm going to zoom in a bit over here. Bear with me. I zoom in over here and like, okay, this was the level where price, when price broke this level, it started to drop very strongly. So I'm going to put my stop loss over here. Now, what you can do is you can take a Fibonacci retracement and you fine tune it a little bit more and like, okay, maybe it might be safer that my 78.6% is here. I might put it over here instead. Okay. I might move it to my, to this 78.6. Instead of just putting it over here, give it that little bit of breathing space because if you put it over here, it's in the middle of 61, it's in the middle of 78. So maybe you give it a little bit of breathing space. Okay. What can happen from there? You know, price goes up. Goes up. You notice it will have stopped you out over here. If you were over here, it will have stopped you out. But because you fine tune it to your Fibonacci level, right, it gives you enough breathing space before price reversed from this level. So that's how you use stop loss Fibonacci to kind of fine tune your stop loss placement. Okay. Now, another thing, another thing that we want to do, another thing that we want to do. Okay. Back to Alex, who has been very patiently waiting, right? How does a recession lead to central bank increasing interest rates? Let me get that. Did I get the question correct again? Did I get a question? Can you explain how risk? Recession can lead to central bank rising rates. How, how risk relaxed? What does risk recession stand for? Okay. Rather, it is not because of the recession that the central bank has increased interest rates. A lot of people know that recently the central bank increased the interest rates, right? By, I don't know, I think 50 or 75 basis points, right? And it is because they have raised their interest rates. That's why you're starting to see the stock markets drop so strongly. And a lot of people are talking about, yes, another technical recession, right? It is because of the raising of interest rates. That's why it happens. Why did the interest rate happen? No, why did the banks increase the interest rates, right? It's because, yes, it's to tame inflation. But the funny thing is, right? Inflation was caused by two reasons. Firstly, it was because the banks were crazy, printing money like crazy, right? I mean, the central banks were just printing money like crazy, during the COVID, right? They were essentially just kind of kicking the can down the road, right? They were going to print so much money, we need to spur spending. And what that has done is that, you know, all the high-risk stocks, the growth stocks, they just kept borrowing money to spend and spend and spend, right? And that led to, you know, higher inflation. But on top of that, one or other thing also caused inflation to keep rising. And that was oil. The prices of oil kept going up and going up and going up. You and I, we drive cars, we pump petrol, it's very painful. Pump gas is very painful, right? And oil happens to be a foundational item, meaning that once price of oil increases, your price of the shipment from China to your country or from wherever it is to your country is going to cost more. Going to cost more, they're going to cost more to ship it over. They're going to charge the consumers more. The cost of everything, anything that used machinery, that used oil, that used gas, right? The cost of driving, everything increases in price because of oil price increasing, right? And this also was one of the reasons that inflation went up. And then, you know, we're looking at times where inflation was like 8.6%. Then the fact realized they needed to step in to increase interest rate to fight inflation. And when that happened, many of the high-growth stocks that were just, you know, many of the Meta, Netflix, Tesla, they were just borrowing money to spend, right? Suddenly, they're like, whoa, whoa, whoa. That's going to be expensive, right? I borrowed money previously when the interest rates were low. Now it's suddenly so expensive. Cut back, they start firing people. A lot of people start panicking. They start selling their stocks. That's why we're in a technical recession. Yes, there's fear surrounding central bank increasing interest rates because the inflation is still very high. So that's what we call about soft lending or hard lending. Hard lending means that, yes, you know, people are going to get hit hard, basically, right? So it's whether the central banks can implement the proper policies so that, you know, they can fight inflation without killing the stock market. Correct? That's right, guys. I hope that answers your question. I do want to encourage you guys, you know, especially on these live trading stuff, looking at trades together, tune in next week, right? Very fun session, live trading session together. Hopefully next week we'll have our VIP room up. Very, very awesome time. We're trading the markets together, right? Yes. Yeah, hopefully that's available next week. That's right. That's right, Richard. Richard gets a very good point because central banks, if they look at the arsenal of weapons, they're like, oh, crap, man, I can't do much, right? There are a lot more things you can do that really, really fight inflation. So Alex, Richard has gave a very good example of that. Remove supply bottlenecks and sanctions, things that will really, really improve like the cost of goods being sent over previously, you know, if because of the sanctions, right? Or maybe subsidies, right? The cost of... You could subsidize oil, for example, right? They can really, really subsidize oil, the prices of oil, right? They can remove the sanctions, right? Make the cost of goods cheaper when you're importing over and that has a knock-on effect, you know, on the entire industry so that it's not going to be that expensive, right? There are many ways they can do that, but if you're asking what can central bank do, nothing much. Central bank can do nothing much, right? They're kind of a little bit handicapped there. We are deviating a bit from our webinar on trade management. So guys here, questions on trade management, don't worry, I'll get to them. You can think about it. I can get to them next week in our webinar in a live trading because I will actually be looking at some trades in real time. Pretty fun stuff, exciting stuff, lots of money to be made, I hope, right? So, you know, you can leave those questions for Dan too. All right, let me see if that's all, right? Thank you very much for sticking with me through today's webinar, right? It's been a great time, right? I hope you guys sent in your reviews. I'll do my best to activate all of the accounts by the end of the week. If you're not a TICMU client yet, please go tell them that you're going to register for an account so that they'll reserve a spot for you, okay? Thank you very much guys. It has been a great time, right? It's almost a whole bunch of you guys to take throughout the entire webinar. Stick with me, right? Stick with me next week. We're going to be a recurring session every week, so stick with me. I'll make sure you guys do well in trading. I'll take you guys to the next level. You'll be a fun time together, all right? Thank you very much. All right, Richa, take a look at that. Thank you very much. Thank you, Robert, Edison, Carmen, right? I'm glad you learned. Thank you, Reformina, right? Paul, Ariel, awesome guys. Thank you, Maria. I will catch you guys next week. Guys, remember, stay safe, trade safe. Peace out, guys. Peace out, right? Yes, a webinar will be published on YouTube. I'm glad you found this productive. I might cover a bit under Andrew, all right? Thank you very much, guys. I'm going to tuning off. I'm going to catch my wife for dinner and try to catch my baby before I fall asleep. All right, all right. Cheers, man. Cheers. Peace out, guys. Next webinar schedule. All right, guys, just hit to tickmeal.com. Go to this webinar's page over here, right? And go sign up for this. Yes, I'm based in Singapore, Richard. I'm based in Singapore. I'm currently in Ruffles Place, right? You can swing by my office if you want, right? And come in here. And then, yeah, you can see, see a different webinar. I said, this is by me. We've got some awesome webinars by Patrick and tuning to the rest of them, too. You're going to sign up for the Ultimate Forward Shooting Masterclass tuning over here, okay? Okay, I will cover that next time. Oh, you thought so? Are you in Singapore, too, Richard? I wonder if anyone in Singapore or Malaysia, right? Off topic a bit, right? Thank you, Ali Abu. No, no, no. It's just me. Not all Singaporeans are that way. Every country has its own funny stuff, right? But I talk about Singapore as an Asian. I feel like the way they govern it is pretty, it's not bad. It's not bad, right? Okay, I hope to see you around soon, Richard. Hopefully, a premier next season will start soon, yeah? Right? Thank you, Ariel. Thank you, Jonas. Right? Peace out, everyone. I'll catch you guys next week. Right? Remember to tune in for the session. If not, I'll be very sad if I miss you guys. All right? Cheers, cheers. Take care and peace out, guys. Yeah, yep. Yeah, enjoy the evening, too, man, Richard. Okay. Adios. And peace out.