 Alright, good morning traders and welcome to the bookmap live trading webinar today with Scott Polsini. We'll go through some live trades using bookmap the whole goal here is to Meet your criteria For a need of order flow education. We have an educational course We have the live analysis so you can apply that education and then we have live trading So that should kind of fit the bill And you guys can learn from the the education and then from the other traders So let's you guys know who Scott is really interesting background and history trading back in 2002 to 2005 10% of the S&P E-mini volume Taking positions that we probably don't even take within a within a few minutes He's probably taking positions. We haven't taken within years. So anyway very large trader and We're lucky to have him here. So I have content I'm sorry Contact information. He does offer education and mentorship. You can reach out to Scott here. I'll be putting this into the chat It's got an educational course a trading room Website etc. So you can click right on the links. You don't have to copy them down Let's go through the disclosures and then we'll get started General disclosure all book map limited materials information and presentations are for educational purposes only and should not be considered specific investment advice nor recommendations live trading is in simulation demo paper trading mode and strictly for educational purposes live trading executed in simulation cannot accurately represent realistic trading performance risk disclosure trading futures equities and digital currencies involves substantial risk of loss and is not suitable for all investors and Investor could potentially lose all or more than the initial investment risk capital is money That can be lost without jeopardizing one's financial security nor lifestyle only risk capital should be used for trading and only those with sufficient risk Capital should consider trading past performance is not necessarily indicative of future results So just to note that this is it's live trading For education it's not trade recommendations so that you can apply what you've learned in the live environment and See and look over the shoulder of a professional trader. All right, so let's get started here And Scott are you there? I believe so Hey, there you are. Okay Let me show my screen here. Hey, you got my screen. Yep. We're all set. All right, so you said a big spike here and These equities including NASDAQ and a setup just came in so we'll go over zone drawing which Some reason a lot of people are having trouble with even in my room even though I do it every day twice a day So we'll just keep going over it. But you can see here this Actually first setup of the morning In any of these equity products you can see these 366 by icebergs right here. Yeah, it's a swipe. So this is a good example of So global plus which I recommend over just the basic bookmap product has these sweep indicator and they have absorption indicator but anyway, this is a good example of You know, someone came in and swept this order book for you can see the buy bubbles the blue bubbles But then you see the sweep meaning someone just swept all these prices for you know 329 contracts So that's good information to know and it wasn't the stop run, right? So what I always say is That what I say it's what is factual that all all stop runs are sweeps but not all sweeps are stop runs, right? So this was a sweep someone swept the order book and it was not a stop run. So it's just good information to know because You could just imagine, you know anytime you're trying to understand what's going on the market pretend You're the big trader in the area and you're the one getting run over, right? So say you have In this section right here You had all your working orders and someone just can't you had 300 working orders and you just kind of screwing around with the market You didn't really want to get filled on all 300 and someone comes in and just swipes everything from you Which happens all the time trust me like guys that even in trading firms that have the size to trade They'll try to spoof even though it's you know, I'm doing air quotes illegal to be spoofing it happens all day long anyway But the point is they'll put in orders in here trying to scare the market back down And they're not expecting someone to come in and sweep all their orders. So just imagine you are this Trader that had these resting offers in here that just got 300 of them swept from you I'm not saying this is one person that it's one person that swept it or one entity that swept it But you don't know was on the other side I'm just giving you an example of pretend. You are this person that gets your order sweep and the market does this You're like, oh crap This is not what I thought was gonna happen and then you're you know praying for it to come back to your area So you can peel out of the trade. So it's just really good information I have on top of the SI indicator, which is obviously my driver the driver of my trading and should be You can see this is a good this is the same pattern that go that I didn't even watch what happened after this When I was just explaining this but this pretend you are the trader that got run over here Now you're like holding your breath as it comes back in here You're like, oh, thank God Let me get out of this and you peel out of your shorts that you just got swept on right So that is what's happening in these markets whether it be icebergs sweeps one and so forth So if you can look view markets in this simplistic manner, you can you know have a better idea of what's going on So it's just a quick explanation of the sweeps. But anyway, we want to draw this This is my main driver obviously is the SI indicator. So when you draw these zones again, we go over this every webinar First of all, you want to get this last traded price on your chart again when I first started trading I took it off because it was just too much from my I don't like too many things on my chart There's enough on these bookmap charts as it is but to draw zones. It's crucial, right? So just right-click on The dot configure visible components and then pick Last price and that will give you this level and then when you're drawing your zones, just take the bubbles off and draw You just want to take the spike on the SI indicator And you want to incorporate all the prices that happen in this spike, right? So that basically this by I started down here This was I mean this was a hundred of them. So let's see. This was a continuation This looks like this was one house. You can see on the SI that on chart. So I'll include this as well, right? So you can see When the spike started this was the price has started that so we go actually I got my hockey's working So you can set up your hockey's I can show that How to do that so it started there and you can see the spike starter coming in here It wasn't quite threshold, but it continued and this was one house as you can see by that line This white line So I'll continue. Oh Incorporate all of these prices that happen since the spike. So then we spike this was definitely threshold So that got up to here. So I'm just gonna draw that I may have to change it so now I Want all the prices so you can see that this is still a little too low. You see the prices in right here The spike still was coming in so I have to incorporate these prices, right? so I Look at this pull this dot up and That is looks like an accurate actually that's still not right, right? So you see the spike to your You just you know if you want to be accurate you got to make sure you zoom in on these charts and Get all the prices that happen in this spike. So hopefully that's right No, sure not. So this came in as well This is the way it is sometimes you got to you know as you as you go further right in your chart You're gonna make all the way at any other prices. You just got to adjust it So that looks like the accurate zone, right? So let's call this for buy ice. I like to know What type of iceberg it is whether it's a buy or sell and or stop runs that is that own and that incorporates this Swipe as well. That was in there. So not only did you have buy ice which which are hidden orders, right? Ice bears are hidden orders They only have to show a portion of their order and then they have however many behind it, right? So I think that I think it's 10% of their order, right? So in the order book all they have to show is a 30 a lot and then someone comes in and starts hitting it And then they run into 300 behind it, right? So our 270 behind it So you had the buy ice hidden orders that the sellers ran into then someone came in and Swipe the order book on top of that. So that's all Technically bullish, right? For what should you know how that mark it's all about how the market responds to this area, but The buyers are serious right here put it that way, right? So whoever was selling this ran into a mouthful of ice and then whoever added the resting orders in the order book got swept That is incredible information that you want to know To figure out, you know, which way you want to be trading and you can see this is the typical pattern So we did retest. I don't know if this is an ATR. We'll figure this out here in a second. So These prices in the spreadsheet and then we'll figure this out. Just make sure this is accurate. So the top of this one is 11 6 475 or 475 So we have the semi-trade room to help Know the exact prices to get in and out and add your ATR, which will go over all of that as well But make it very accurate. The bottom of the zone was 1115 or 11589 75 We put that in Run ATR. So I use a five-minute Wilders ATR It's the default setting on thicker swim. You can see in the middle there. It's at 24 So the average five-minute range is 24 points very very very important Those of you that trading with a static loss that say, oh, I only like to risk 10 points when I put on an asset trade That's nonsensical if you actually think about it Say every webinar the market does not care what you want to lose the market cares about the current volatility and the volume That's coming in. So please if you've learned anything from these webinars stop using static stops in whatever you're trading ES and Q You're just opening yourself up for algo stopouts because when the volatility, you know If you got a let's see what the ATR is here and yes, so the ATR is almost six points right now So if you have a normal two points where you you jump in and trade and you risk two points Well, that's just a random number, right? You're not you're not adjusting to the dynamic volatility in the market So you're just asking to get stopped out in your trades if you if you're using a static ATR or a static stop loss So if you learn anything use the five-minute ATR to your advantage all right, so I trade these setups one in two ways either trade them aggressively or conservatively the aggressive entry if I really love an area and I So from my studies from watching thousands and thousands and thousands of these setups over the last four years I have Pretty much seen that the market will retest these own 70 80% of 70 to 80% of the time, right? That means 20 to 30% of the time they don't so I have to make decisions whether I want to enter aggressively When it breaks away from that zone or I want to wait for a retest failure to prove Kind of a confirmation type of trade that the area is valid. It is bullish We already know what happened down here that should be bullish should is the key word and it's looking bullish right now, right? So I determined based on other things. We'll talk about today whether I want to be aggressive. So This trade I you know first of all I've been drawing the zone I didn't really get a chance to be aggressive So I'm out of luck if this does not come back to the zone, but in this particular circumstance. I would have considered Aggressive entry. This is a multi-day Well three three and a half day or three-day balance area, right? So what's a balance area is just two-sided trades with traders are placing bets longer term traders when they are wrong In this when the market breaks from this area that causes the pukes, right? So These are times where you want to be aggressive on setups, right? So again, I missed the trade so it is what it is. I'm just hoping to retest I will go long, but I could have gone long knowing this is breaking out of here But this is shorter term then you'd still have to know the bigger picture. What is this bigger picture showing me? Well, this is one Monster balance area and this market actually accepted at the bottom of it and below it For multi-days. So coming into today My thesis was we were gonna do this because it was accepting lower below this balance area All these longer term traders are holding their breath. This moves a little lower. You're gonna get a huge move Lower right so my thesis coming into today was down And it looked like on the open that was gonna happen and it started to move down and instant rejection You get a buying tail right back through this entire balance area and now it's breaking out So the point is you could go aggressive, but the bigger picture it's this is still not bullish This will be bullish For longer term trading like for bigger moves like large large moves is if this can recover this high volume Node of this balance area high volume known as just where the most trade occurred in a balance area, right? So that would in my mind signal a failed breakdown because this did get below this Large structure and it didn't fail Then that would be a failed breakdown and you can expect a monster move up, right? That a lot has to happen before that happens. So the point is Short-term. Yeah, this looks bullish longer term It still doesn't look bullish to me until we can get through that right, but we're day traders I'm a day trader. I want to trade what what is happening What's happening now? I should say so being conservative waiting for a retest of the zone is still not a bad idea But I'm just giving you options You know as you got to learn you got to come up with your own playbooks and your own ideas You know you incorporate what you learn, you know in the bookmap webinars and You know from me of how to trade the zones, but you still have to learn and come up with thesis on what's happening Today and we'll go over something that I saw in a crew where I think it's gonna get smushed today as well On something that I expected it to happen that didn't happen. So this is a good example, too I expect this to at least probably rally up I should have a zone drawn here because this is where directional conviction started We'll do that in a little bit But I expect this at least to come to this high volume note of this big balance area if this This right now after everything we've just seen right there's by ice the swipes the buying tail If this turns around and does this and gets to this high volume out of this little guy Then I'm then I'm expecting what I originally expected and it's gonna be pretty dramatic I would think right so you come up with it if that's scenarios right now this looks bullish So let's I'll play to the bull side especially So this is what I'm talking about you usually get the one two one or two ATR five minute ATR away from the zone Then I'm gonna retest and then we're gonna see if it fails the last I will tell you the last few days We have had this setup where it's done this and it's come back and I wait for the confirmation off I don't go long right when it comes back because so many times and it's happened multiple times Last few days on the trading webinars in my trade room where it's done this It's pushed an ATR or more outside of the volume of that that has come back and then right through it right So that's why trust me. I like I would love to get in and not wait for this So let's just let me just give you an example of what I'm gonna do here, right? If this does retest failure, so let's just make sure this ATR is accurate. It's twenty four point three four and so this market For the one ATR for one ATR away from the zone was 11 431 A little more than that quarter. So this Definitely this was a full ATR So this is how I determine if this setup is bullish or not if it can push at least an ATR away from the zone Which it did it actually got outside that right so here you go Here's and hopefully my trading room caught this trade because this is another trade we're working on a reversion trade But anyway, this is ATR here is your retest Now if this fails back out of here, I will enter along At 110 of a five minute ATR and then I will risk 110 of a five minute ATR below this zone And again, I know what especially if you're new to my webinars. Well, that is so much risk I don't want to risk it. I like risking my 10 points when I put on a trade Let's say at every webinar. This is the science right the science is It's by ice and the swipe if you want to incorporate that and use that in your in your analysis, but either way this was bullish, right? You can you can trade this stuff however you want The way I traded from trust me. I learned the hard way of saying, you know what? I'm going to get in right when it comes back to the zone and then you get smushed a lot of the times, right? The best way to enter this type of trade is to wait The confirmation away from the zone to prove this is bullish and then also Placing the stop far enough away from this volume event We're not getting algode because when the big money is not playing Then the algos start playing their games again, and they know how traders trade They know traders get long and then they trail their stop You know to either break, you know, so say traders get long right here and the market starts to move away When they know traders are going to trail their stop and then you get this you get stopped out And then the market goes exactly where your thought how many traders watch this You know 10 times a day. So the point is I've learned this is not just me like hypothetically saying stuff This is from watching thousands of these setups where I've learned the hard way to not be messing around In these areas, I put my stop away from the volume event And if this market can push so this does this this this and this and I get long I put my stop below here This market can push down through here more than atr Then I'm wrong on the trade and I move on to the next one, right? But I will not allow myself to be algoed as best as possible, right? And I just know how these markets trade and the algos are 80% or more percent of the activity And in all of these futures markets So you need to understand that when you're when you're trading this when you're trading these products All right, so let's see if this retested so I consider a retest if they got within 10% of an atr From the top of the zone so the top of the zone was um for 75 It actually shows you right here. Let's take a look here I'm looking for here lost my train of thought. So let's just see get uh, yeah, so this got within so 10% of a 34 atr No, 24. Sorry 24 atr is two and a half points. So this get within two and a half points away Seven quarter Yeah, real close Basically within a tick. So my point is To go along here, which this is looking like right now. Let me get this in so I don't miss this trade Like I did last week. I missed the winner. So we go to the position trading side of this, right now What did I do wrong here? There's something off on this spreadsheet. Hold on 11406. Oh, this is why because I put in the wrong zone prices 11605 Sorry, I did a little It's So that's accurate. So the top of the zone is 60475 the bottom of the zone is 8575. So This is where it doesn't matter what the zone or the atr how much you have to risk You're basing on risking a certain percentage of your account size And then you adapts when you put these prices in and understanding the atr That shows you how much you can trade, right? So if the atr was you know 15 I can put on more if it if it's 50 I can put on less but this is this is this remains constant, right? It's so it doesn't matter What you have to risk you're just adjusting your size for your for how much you want to risk per trade And the most you should be risking per trade is one and a half to two percent On an individual trade and for the day you shouldn't be losing more than Then five to six percent of your account size If you if you do you should just shut it off for the day and be done You know tomorrow is another day that day is just not conforming to you know what you think it's happening So on and so forth strategy is not working that day, which happens all the time You're going to have drawdowns and you need to be able to Not blow out your account when you're not having a good day and then on the flip side I don't really want to go on this rant Um, but you know when you're doing well You do not want to get up if you hit your profit goal from the day for the day that is that just again It's nonsensical Everybody that's been trading for any amount of time knows how difficult trading can be right the days You are seeing things clearly you do not want to be getting up if you hit a profit goal Yes, if you hit your profit goal say your profit goal is five grand if you hit that and you give back 20 So if you give back a thousand dollars, then you get up. I'm perfectly fine with that But do not do not get up if you're if you're seeing things clearly making money, right? I tell the story all the time. Am I trading from peck when I when I was in king street trading in the early 2000s I can't tell you how many guys and for some reason five thousand dollars were like the magical number If they made five thousand dollars, even if it wasn't the first five minutes They shut off their computer. They go to the game room for the rest of the day. Well, let me get this Tray them long Ranting. All right. So my entry here is uh, 31 31 half And I could put on two contracts I'm going to round down on this one All right, so we'll go over again what I'm doing here. So 31 half And so what this entry is is this is my conservative entry So if I was aggressive, which I could have been like I said, it was a regular the balance area I would already been long at 31 and a half the first the second this got 110 of a five minute ATR outside of the top of the zone I would have been in I didn't I was fortunate it came back it retested the zone now Here's my confirmation and now I will get in this trade the same exact price Which is 110 percent of the current ATR And then if I get filled I put my stop 110 percent of an ATR below the volume event and that avoids Getting whiffs on that we just talked about so That will be my entry Another thing that we watch in my room. This is called elbow guy. I mean it's not that's what I call it This is a exponential living average ribbon The blue ribbon is the shorter term exponentials. These are just literally individual Moving averages all wrapped up into one and then these are longer terms. So So many times, you know, when you trade you want confluence meaning All right, so I'm long this right now, but hold on a second, we'll go back and uh Delete some of this stuff. I suppose I was working before the before I got out here. Um All right. So anyway, so the elbow guy is just basically exponential living averages The blue is the shorter term. The red is the longer term and You can cut some So what I was talking about is confluence we're putting on trades You want to have as much confluence in your favor as possible and we'll go over some of the other things I look at no one thing I think I did wrong here. I think I entered right before the Major red blood blood wig level, which is not a very smart play. I sure did So you can see here. So my rules are I usually do not take this trade into a red lug I may get lucky here, but if this fails, they will not be I will not be surprised, right? So this is an exact perfect example of confluence on the bearish side, right? So what do we have here? We have red lug will go in a lug with levels in a little bit But they're very important to my team trading and they're very very powerful, especially with the map setups You have extreme standard deviation of vwap. So this is vwap. This is one standard deviation called daily value Areas another term they call it by then you have one and a half two standard deviations You have to know algos love to play reversion the meat. So if there's not big money coming in Which right now there is not well, if I look at relative volume to determine that we'll look at that in a second Many times you you get these algos that try to snap it back. So you got red lug You've got extreme standard deviation and you have the top of this prior Market profile composite. This is not a good place to be taking longs. It's actually a good place to be going short I don't usually take longs here and I'm just deciding whether I want to go out of the straight and you can throw in a spot gamma level here as well That can that can add as reasons So there's actually you talk about this all the time when you're trying to decide whether you want to put on a Train or not, you know, you talk about the old-fashioned scale, right? So Very very few times if you can have every every factor I'm one side of the scale bullish side bearish side, right? So right now the bullish was the volume set up Algo guys in my favor Arish red lug market profile composite high Stream standard deviation. So you see how this is not especially into the red lug the red lug. They're so powerful I just usually wait for new lugs. I'm going to give this a second but this starts to fail I'm going to get out of the straight and I'm just going to wait because if this is truly bullish, right? I know there was a bullish setup and I know that in the back of my head down here Or if this is truly bullish, this will bust through this will form new Ludwig levels And this will break out of this then that I'm fine taking longs right here is not a good place And you can see how it's struggling here. So let's just watch this if this starts to fail I'm going to just what I'll do is I'll just scratch this trade And this is my fall for not knowing exactly where we were with the lugs Guys, this is all from experience, right? I've learned the hard way of taking trades into into major Ludwig levels You know Is it possible this thing just starts to you know, say comes to ask me out and then reps? Yeah That's fine. Trust me. There will be more setups to get in to go along again, right? These happen Pretty frequently, you know granted, you don't want to see threshold wise You want to see in my threshold for nasdaq is 150 meaning I will draw my zones and play those areas if it's over 150 or more But you want to see you know between three to five in a day if you're seeing 150 every three minutes Well, you need to up your thresholds for the day I get that question all the time from my si indicator course where You know guys were trading back, you know when I first made the course I had the threshold for nasdaq like a hundred and I would get emails Well, well, I saw a hundred happy it just kept happening I kept taking trades and I kept losing or getting stopped out Well, you just answered your old question, right? If you're seeing the threshold hit Not stop that as a day just like how volatility changes That's a day where you have to increase your threshold size for the day, right? So um 150 is fine for right now But the point is you should be only seeing three to five in a day If you're seeing five in a 20 minute period you need to increase your threshold for the day Put that way and you just look at I gotta just watch the spikes You can see this is by far the biggest spike of the day So I'm still okay with the 150 but if I keep seeing 300 well, then I'm gonna I'm gonna increase my threshold size All right, so you see this is what I was Expecting I'm lucky that I'm not going to take a loss on this trade It's the bottom line right because I should not have bought into the red lug to begin with like I just talked about So it looks like I'm gonna stop out of this trade is break even and then Wait for wait for something new Um, any questions on any of that Bruce before I jump to crude Um, yeah, let's see here, um Alejandro is asking about that. Maybe you can show your sweeps settings. Um, I'm kind of going back and forth here with him in the chat uh so How you have it set up? Yeah So you don't have it on automatic mode, but Alejandro, I mean you'll have to play around with it to find out what works Here's scots for NASDAQ So you can sweep sweeps for summary and I I I have no explanation for it, right? So you would think the sweeps would be just as As far as volume wise effective as the sci-indicator setup thresholds right so my My threshold for for stops and I used to just talked about this and is 150 and Aztec Well, you would think 150 sweeps would be as you know where you can kind of play that area as well as It's trainable, but for what I've seen with the sweeps. They're not as they're not effective until you're getting At least two times now I would probably need more to three three to four times if you're gonna play the sweeps as as a um As an area to trade right so meaning you want to see at least 300 Double double the threshold which this was Probably three or four times when you start seeing like six 700 sweeps You could definitely play that area like an sci indicator zone, right? But that's why I have this set for 300 because I want to see I just want to see I don't want to see every sweep in the order book Just like I don't want to play every spike in the sci indicator, right? Like I don't play every spike I play if it hits a certain certain threshold and above same as sweeps You want to get your sweeps at least double the normal threshold for your si so my thresholds 150 I would set this for at least 300 and then you probably don't want to be playing them unless they're three or four times No, right, so like this one right here was What's this? This is another 300 sweeps here You're gonna see you'll see them a lot and they're just not as effective as these sci indicator All right, so I stopped out of that long I just scratched it and I'm fighting off this turns around and rips I'm fine with it. I just guys This is all from years of experience of training, you know the londwood levels. So again quickly This is londwood levels.com. You can go to a website. Um, there's a three three day trial So you saw it on the bookmap webinar and you get special pricing But um, you know, just the basic sense It doesn't divulge her secret sauce, right gets her proprietary But again most anything that I've ever used I want to know why what it what it is why it works, right? These I've just learned over, you know I tell the story all the time there was a trader. It took me a while to incorporate these But I had a trader that kept bragging about him that was in that I was mentoring and he was in the trade room And he just kept saying how incredible they were And I started watching him and the guy made like, you know, million and a half dollars He was trading micros and then he all of a sudden he makes like over a million dollars And it was just basically based on book map a sci indicator setups and a lot of book levels I'm like, all right, I'll start watching them then I started watching them and they are absolutely incredible Again, there's a bookmap webinar. I mean a webinar I did with her just her and I which she explains a little bit about them Then you can find that I know it's in this in this room if you scroll up If not email me, I can give you a link to that The point is I you know, I don't need to know the components of these She's obviously using something with pivot points and market profile And again, I don't know the exact ingredients, but I don't need to know them I just need to know what is support. What is resistance? What is support and then how the market reacts when you draw new ones or if they fail They fail or if they pop above and they can't hold above get below There's different ways to trade these as far as thesis aspects, but just very simple Resistance support and I don't take trades unless I see heavy relative volume into the loves and this is what I was talking about Unless I see the big money coming in so you can see here. This is another factor I know it seems like I use a lot of my trading. I really don't it's all pretty simplistic So this is relative volume. This is showing me These exact five minute time periods for the last 30 days So I know hey, is this a lot of volume coming in the market? You know versus the last 30 days and you can make it whatever you want You can make it the last 60 days last week whatever 30 days for me is the sweet spot. So yeah This was decent volume This volume right now going into the lug, but I want to see So you'll see it like in a flash yellow. I'm sure there's some crude and stuff here, right? So it's like if it gets above two to one then it's yellow like you can see And this is really interesting and crude too. We're gonna go over crude because I think it's gonna get smoked You can see here So there was big buying here, right? And obviously the buyers were aggressive Well, someone's on the other side of these trades, right? So the volume overnight or early this morning was Elevated right and the buyers were so aggressive and they got their way but somebody was selling these Responsively meaning passively there has to be right because the buyers were being aggressive and you see the volume is spiking So the point is these can you can draw these areas just like you do their sign indicator zones and be like, okay I'm keeping an eye on this. Here's the retest. Oh wait, so now this fails This area fails where all this volume came in overnight You're probably gonna get some huge stop runs and a huge move over and I'm already expecting that based on What happened this morning? We'll go over that like I said, but this is real close to Bye-bye, right all these buyers that were all aggressive this morning Thought they had it and now they're like, um, yeah, no, bye All right, so that's what I'm thinking is gonna happen here and we'll go over the other reasons But the bottom line is you want to be paying attention to the relative buyers. So Like it going back to the Ludwig levels I will not buy or sell into the major lugs unless there's high relative buying coming in and this is not High relative buy it's normal, right? So it doesn't mean it can't bust through No, it could and you know if it does like I said, I'm fine with it But there's too many things going against this trade right now On the short side for me to be taking longs right here like we just talked about red lug Extreme standard deviation market profile composite now if this bus out of here this bus through here We get new lugs that don't that'll take longs, right? But until then I'm not gonna just sit back and wait But were there any other questions besides the sweeps I kind of went on a tangent there as usual yeah, um there Well, I have a question for you too like uh I I have you played around or do you want to demo anything on the trader map pro that you have found useful? If not, no big deal Yeah, we can't you know once I go over these other markets if it's dead like it's been we can go over it I have not been able to even play with it. I was out of town last Friday and monday So I haven't really had a chance to really dive into it yet. I mean it's obviously on my I have it I have not had a chance but we can get into it, especially if these markets are dead Which it looks like it's gonna I mean it's just been I have found it just unbelievable. I mean you know When you you you said, uh, I've been I was doing a filter for 10 lots and then you said, well, what about 100 and I go Okay, let's try a hundred and it's just like magnetic, um So we'll look at that. It's cool. Um, no, you know, I could tell I'll wait No, we can go we can go over because then I can learn about it a little more too But the point is what I'm trying to tell the studio audience Is if bruce is excited about something and says this incredible you want to pay attention, right? So I tell the story all the time he when I first started with book map when I got book map They reached out to me asked if I want to do some webinars. I was trading stocks And he kept telling me about this si indicator that you have now and he kept saying The cme has released this new data and our developers know how to read it and Understand like icebergs and stop runs you got you've got to see this you've got to see this It literally it was probably three months before I looked at it And he was just he couldn't have been more excited and I have not heard him more excited about an indicator Since that and we know how powerful that this is the driver of my trading the basis of my trading So my point is if you hear bruce giddy about something you you probably want to check it out So we will look at that and these markets don't look like much is going on I do want to cover a crude here because the setup did happen And I want to find a way to get short this market I'm kind of late to the party, but I'm going to go over what I did see I thought there was a big stop running. Yeah, let's see. I already missed this trade looks like but let's see All right. So this is how we want to draw our zones. Here's your spike stops are a little different and we cover this in a prior webinar book map webinar So what you need to understand is stop runs Obviously are just you know, they're not always pukes, but the majority of the time they're pukes, right? So meaning you're long you put in it, you know, you can't monitor the market tick by tick you put a resting cell cell stop in 167 contracts my usual leading orders in the order book. Hold on a second I'm doing man You should ask my room. I do this non because I've got so much going on Right still kind of like this like a stop order type of thing I put it in the order book and I completely forget about and then I'll pull my screen up and be down Huge but anyway, all right, I caught that I think I'm human too. I make mistakes non-stop Um, so anyway With stop runs what you need to understand is there's like a first right to orders, right? So say you're long and then you put your stop at 70 to 90 All right. So you say you're long 100 and you put your stop at 70 to 90 cell stop, right? So it's resting in there Well, somebody comes in and they need to sell 300 and they just literally drag and drop from So they'll look at the order book. They'll say, okay. Well, there's about 300 and the next 12 prices So I'm going to just drag and drop my cell order into the book a k a sweep, right? So this is a sweep. It's worth these dots are so this person needs to get filled Will get filled before the stops are allowed to fire off So you see I'm saying that this person that That sweeps the order book for 300 whether he's however he's training and he's sweeping the order But he gets first right to these prices then the stops fire off. So the point is Yes, you can see the stop run on the on the on chart Sion chart that started here at 70 to 90. Well, these stops could have been up here But they didn't trigger until here I'm so I'm so mad. I just missed this. I knew this crew was going to get killed. Um These won't fire off till this person gets his orders, right? So the point is when you draw your stop zones try to incorporate where the sweep starters So you can see this sweep started pretty much here Um and not right on the red line I know that's probably going to be confusing for a lot of people because people can't draw the zones for some reason but I'm going to start it there because this because you don't know these stops could have been up here But they just didn't fire off till down here because this person gets first right, right? So just this is what's so great about the about the the sweeps indicator with the global plus, right? You can see this and it just helps you be more accurate in your zones So that came down to there and there and it doesn't even matter because something new had just happened So I'm going to have to draw that I just missed the straight. I would have been aggressive on the straight So we'll just look and see what I missed. I would have been in an atr below here Atr was like 30 something I would have been in right around here and now you had more sweet sweeps here stops Right, so let's draw this one 245 And we'll have a good lesson on So many times the best trades are when something should happen and it doesn't and then you're ready to fire the other way Right, you're expecting one thing and you're like, huh, that shouldn't happen And then you just crush it the other way and this was a perfect example when I've been wanting to be a short crew I just missed this Like I said at the beginning webinar, right? So this obviously this spike continued all the way to this price, right? Use your crosshair up here That up and then you can just take it to the bottom where this spike stopped and you want to include all the prices You can see I'm that's not accurate for me. So I need to bring it up right There I think that's right Yeah, so that's the most recent zone Hold on one second guys Bruce if you want to talk for I'll be back in like 30 seconds All right So there's a question on The volume profile and we'll get to it. Um, but Scott basically Steve is asking that. Um He's just bigger picture stuff. He's just looking at very simple ranges And where breakouts, uh, may happen and and where they may move to So it's along with the uh, Ludwig levels and then uh, and then it all boils down to book map and looking at the The stops and iceberg setups here. So, um, so for those of you aren't familiar with, uh, Scott's trading basically what he's doing is Uh, there's a signal alert. It's not it's not like a It's not a signal as go go long or go short. It's more like a signal of A big volume event has unfolded like stop stop run or our iceberg Purchases And then he's looking for the You know, studying that to see what what direction might go in his bigger picture context All right, Scott. Okay. I'm back. You're back. Okay. Um, all right. So this is the most current zone Let's get this in here. I'm looking at I'm late to the part of here but as far as the sell-off but again that You never ever ever say this market can't go any further, right? The market goes as far as at once And that's where traders blow out like for instance this day and yes, I don't mean to digress but How many traders and I'm sure there's some on here got absolutely their head ripped off on this move On this day This is another reason why I had a bearer's thesis, right? Because this thing recovered this and covered this whole thing Rejected this whole move. But anyway, this day was just insanity as far as This move up. I mean how many traded especially the more experience you have The more you're like, okay, that's about enough. I'm going short here. Yeah, that can't go any further Yeah, that could go any further, right? And the thing just rips, you know, 200 points So the point is the market could go further than you think so don't ever think that right so You know, I think this is a pretty drastic move and I probably missed this miss this down move And this is a very important zone. This is where this gapped up from last night So I I just knew based on this morning, we'll go over it again Like I've been saying when I get to it That this was going to recover this entire gap up from overnight So if this breaks this zone right now, this this thing could go down $5, right? So This is a this was a major zone We'll cover here in a second and then this was the gap up where I draw mine This is why this zone is drawn right here if this can break right here This there is nothing here. I mean this can as far as prior structure from a long time ago So my point is don't ever think the market can't go any further. Now. I will play that I'll still play the short. I let the volume tell me, right? So, you know, I have an idea and I have a thesis. Okay. Yeah, this has gone pretty far But first and foremost like if this this doesn't turn into a bullish setup And what determines a bullish setup for me if it's able to push a full ATR out here, right if this fails And it's a bearish setup and you this is the driver of my training So as long as the setups keep showing me bearish then I'm then I'm going to go short This this day actually I the si in the e-mini s&p The si indicator kept me out of getting my head ripped off because there was setup setup setup setup And not one of them was bearish meaning not one was able to push an atr below the setup So I avoided getting run over on the setups granted a lot of the a lot of subs this day You had to be aggressive We've already talked about in this webinar being aggressive versus conservative meaning Waiting for the atr retest, right? A lot of these were just you'd had to be aggressive had to be aggressive had to be aggressive Which was you know, unless you love the area that's hard for me to do unless I really love an area So I missed a lot of this trade as well But the point is I didn't lose because these these setups weren't None of them were bearish So this this setup right here if this continues lower, you know, I'm I'm gonna go short it even though it's Gone too far doing air quotes again You know the the the vine the current volume is telling me that this is gonna head lower So I'll take the trade on the short side Granted this is a new important zone or the where I do expect some kind of a bounce, but if it doesn't I'm gonna short it but what my point is I'm gonna wait for retest failure on this specific setup Because this is this is an area where this market could Bounce right so meaning I'm gonna need to see the atr I'm gonna see the need to see the retest. I'm gonna need to see the failure Is there a chance this just goes like this and then lose sells off another 100 200 ticks? Absolutely, and that I'm willing to take that risk because of where we're at on the chart, right? So I'll still short this even though this has gone down quite a bit But I need to see at our retest failure So let's just put these values in quickly and then you know the prices that I'm gonna be getting in at So the top of the zone is 72 23 the bottom is 7206 Where's my we'll look at the Ludwig levels make sure I'm not gonna be selling a red lug and you can see this is Really struggling this nasdaq trading. I don't want to Go on a tangent here, but here we are we're at the blue lug But so this is another reason that I'd want to see at retest like I just said I'm not going to go aggressive the setups right here, right? Well, I'm not going aggressive into this blue lug What was probably going to happen is if when this does get an atr If it does get an atr away from this current setup that we were just looking at Then this is going to draw new lugs and I'm fine with shorting it, but I'm not shorting into major lugs, right? We've already covered that so um and the other thing I want to see If I were to consider it shorting into a lug, I need to see high relative volume This actually Isn't bad, but that was the bar before I want to see it into the lug I want to see this thing spiking over two to one normal item And that's not happening as of right now. So I'm Really tested for this particular trade so back to my zone 72 23 70 206 Put that in again. Remember if you remember my trade room you get this access to this spreadsheet We're doing two different types of trades reversing trade Prices are 72 23 and then opposition trade position trades you guys have always seen We're doing a version trade. So that you literally just plug the values in and Go so 7206 That's the zone. That's the zone top and bottom right then I go to my atr five minute Atr you can see in the middle of that chart Right here 0.37 which just means 37 ticks You know, I don't exactly like you see it This tells me What the atr would be so we can you can just use this Revert invalidation price you can just use that to determine the atr To figure out so Meaning for me to go short. I need to see this thing touch 7169 retest fail and then I would short at 7165 Which is 110 percent on atr, right? So visually what I would need to see Is 7169 Then I need to see it retest this zone Then I need to see failure then 110 percent on atr which is 7164 that is where I will go short, right? Then And it tells me my exact size I should be putting on based on my account size so I could put on 3cl I'm risking I'm risking 100 ticks. It doesn't I don't care what it is if this so okay Let's here's a perfect example, right? It doesn't matter. It doesn't matter if I'm risking 200 ticks I just change my size based on what I'm willing to lose based on my account size and percentage, right? So let's change this say say the atr is 70 It can be Now does that matter? I'm risking 174 ticks. Do I change anything? No, I just trade less now I could put on 1.72 or 17 micros or two contracts See see the difference here. So See the non difference I should say It is it doesn't matter what you're risking it matters how much you're risking and based on the current volatility You not have static stops for your trades. I'm telling you Our entries for that matter, right? It's just if you really think about it You'll come to the conclusion that it's just nonsensical and you need to adjust the volatility Not on how much you want to risk on a trade Yeah, you can get away with it for a while, but if you do it over a long period of time It's not going to it's not going to be a profitable situation for you because the market when the volatility is going crazy And you only like to risk 10 ticks and crude you're just opening yourself up for that All right, so let's see if this gets to an atr is another swipe here So this was this was a stop or it was 100 Just so you could see it was 200 swipes 100 of them were stops, right? So obviously whoever swept the sorter book triggered these stops That's not threshold swamp for me. I need to see 150 include Bruce, why does this pop up like this any idea? It's unavailable for this instrument. No, no, no, I went away. All right I'll get it sometimes. It just stays on my screen for like the entire day All right, so I need to see uh, 7169 still has not gotten a atr so Once again, I'm waiting for this this and this so if I do go short what I was getting at my stop is going to be at I'm short then I can I'll stop out of 72 68 And I already know what I'm risking how much I'll lose if I risk or if I take the trade And then you just put it on and you wait and then what I do is I get out in important areas I'll piece out at important areas, right? So and then Let's just look at some important areas here So I'm pretty much assuming once this goes an atr below that zone, right? So our zones here This gets an atr. We're most likely going to draw new lugs, right? So I'll piece out at important like the yellow lug um Other important areas say there's some there's just nothing here because we haven't been this low for years Uh, probably not. I don't remember the exact time period, but it's been a while. So I'll get out of you know Lugs baby lugs. These are baby lugs if they're confluent with something else like vwap or something But my point is I'll hold the core position until we get to a major lug So say we draw new lugs and the blues down here. Well, I'll hold it until we get here and or an opposing setup So if I get if we start motoring down and then a new setup comes in that turns bullish Meaning it can get an atr above that setup We're gonna get out of the entire trade and I reassess and that possible go along with right So this is just adapting to the real-time volume that's coming in right So we gotta now you just sit and wait you can see they're swiping them back and forth here What do I have my swipes on so through this? Sweeps I should say. You see I only have this at 200. I should have a 300 if you want at least double You just get too many of them, right? So that clears it up a little bit So just from that aspect alone you had cells sweeps Cell sweeps Important to know right so you want to see Call the market reacts to this area So if you are the buyer here that got swept this market moves that as far against you as it comes back You're like, oh, thank god. Give me out and then you cause the next way down There's these these guys go to market to get that a lot of their out of their lungs, right? That's the whole theory behind it. It's not a theory. It's what's happening Again, all of my setups are based on my Personal experience of being a large trader at one point where I was trading thousands of contracts, right? I used to average 50,000 contracts a day round turns a day in the e-mini s and p That's when it was only trading 500,000 a day. So I was 10% of the volume every day, right? So I know how I used to react when I was caught back Then you can see counterparty you can see other traders and other firms and the orders And if you took the orders from so on and so forth So it was a big poker game, but I can see how they would react, right? So all of the setups that I use the volume setups The SI indicator setups are based on personal experience of trading. It's not hypothetical stuff with a lot of I'm doing air quotes educators out there that don't really have a real world experience You know a lot of it's hypothetical this this is what is going on in these markets And I know it's very simplistic, but trust me at its core trading is very simplistic If you can understand the psychological aspect and if you can understand how traders react when they are loaded up in the areas That's what we call in volume events There are areas where traders are loaded up if you can understand how the market should react at these areas That's the edge. That is my edge. And then when you apply these areas to any Anything that you deem important, right? You may not you may not have love with levels You may not use market profile. You may use moving average crosses or moving averages or Or bullard your bands or whatever it doesn't matter What you want to see is the volume real-time volume occurring at those areas to have a better judgment Right and it goes through anything any anything that you're using fails some other time, right? Well, I can promise you if you start to understand these volume setups You're going to understand why why it fails to me just saying All that's trading this is to probability game Yes, that's that's true and you need to have that mindset But I still want to know, you know, if you're just using like a Bollinger man and and then one time it rips through it and you don't know why I want to know why why it doesn't work, right? And and many many many times you're going to be able to Answer the question on why you're You're set up or your area that you wanted to trade didn't work when you understand What's happening in a real-time line because this is what drives markets not price Not Bollinger bands not anything else It's the real-time volume at those areas when they work when they don't work, right? So if you can understand this this is the edge And again, if you have you have something that works great Well, it's going to work even better when you can apply this real-time volume into those areas All right, so this is just chopping around I want to see again. I wanted to see 60 What I say you got to keep an eye on your atr too. I think it's probably the same but Uh, let's see. It was it's up to 39. So let's change this Eight to go to short this See 63 and then a retest failure. I'm sorry 67 then I see retest failure and I'll short it 63. So This is just bouncing around. So let's check out nasdaq see if I'm gonna be mad for not taking that Long no doing nothing Um So if you guys watch that webinar I did with her again, it's in this room I've shared it many times. So there's other other traders in this room if not email me But one of the things she talks about one of her favorite setups with with her own levels Is when the market pushes above a major level, it does not have the criteria to draw new ones Right, so you can see here. Let's look at some examples when you draw the true some new ones It's been a while And the longer you see these That it has not drawn new ones the more powerful the move is when they break So keep that in mind as well, but you can see let's see. Yeah, so So anyway, when the market if it doesn't have the components to draw new ones When it gets back below that's usually a great signal for So keeping that in mind, right? So we're always trying to come up with a thesis on what's happening in these markets So if this starts to fail, we know, okay, hey, it popped above the red lug. It did not draw new ones That's not that's not bullish Then we go back to our market structure and then we say Okay, well, this market's breaking out. This is what we talked about this morning Right at the beginning of the webinar This market's breaking out of this balance area. This should Take off the worst case scenario. It should come back to the top of this then go Last resort high-vime note then go if this does this throughout the rest of this day Right, it's probably not going to happen all around this webinar But if this goes like this and this gets to this high-vime note We'll already know what happened with the lugs, right? Something that should have happened that didn't it didn't draw new lugs And then this this fails that is a fail breakout. We already know this is still pretty bearish Intermediate term. This is most likely going to happen very unlikely that right? So you're always ready to pivot you have if then scenarios right now. Yes, this looks bullish Why isn't it drawing new lugs? Well, it could then fine. I'm taking long. I'm taking long subs But if this fails the bigger picture look, I know if this breaks through pretty much 11 500 Bye-bye. So this is a trade that I would take to say we get a set up right at the end of the day today And it's bearish. This is something I would hold overnight where you can wake up tomorrow And it's going to be three three four hundred points lower that hasn't none of this has happened yet I'm giving you if then scenarios. So this is what I was getting at with crude earlier why I expected this sell-off Right so This gapped up overnight All right So this zone was really really important. We'll look at that in a second But we gapped up overnight and this was this was looking like it was going to possibly come This was a balance area here multi-week balance area, right? Well, like I said many times when markets break down from balance, they'll come back to the bottom Then they'll fail or they get through that then they'll head to dive iam node and then they could still fail Again I'm so mad I missed this trade the last few webinars and all I've been doing is complaining that I'm missing trades But anyway, you can see we're through this zone now. We'll come back to this bigger picture view in a second We have a new setup. So this whole analysis I did based on this zone is all done because we have a new volume event, right? So now we got to do it all over again And I'm pretty sure we'll have new logs here and I could possibly short this aggressively So let's see On this zone. So here's where this the stop run started But you can see the swipe started you don't want to see blue because that mean that it wasn't the actual sweep that triggered the stop run I probably stopped see how this popped up here That this swipe is probably what started this stop run, right? So I put it a little bit above where the where the red line started because again We already covered this this sweep triggered the stop run So I want to incorporate the sweep prices that's triggered the stop run because the stop run could have been up here But this sweep gets first right to the orders I hope that makes sense. It's probably confusing to some but I just want to make these zones as accurate as possible. So that's your new zone 71 82 71 66 Let's just quickly put this one in And I may go short aggressive here 71 66 T. R. Is Still 39 All right. So if I want to short aggressively and we get in at 71 23 I risk up to 72 25 And I can put on three contracts So what are those prices? They're just 110 of a five minute at our outside of the volume of it, right? So that would be entering here bubbles back here So I so ATR is 39 right so 110 percent of that is like 42 ticks ish. So that's where I would get in aggressively or you can wait for that I get in I will get in aggressively if we have new looks. So let's check out our looks if not I'm going to wait like I was waiting for that last stop Stocks are doing absolutely nothing There you go, there's your new loves and so now I'm not afraid to short aggressively. So you remember this last setup I was cautious Now here's your new looks I'm fine with shorting this Let's check out our volume. I'm sure this relative volume is spiking Not sure but So there's another step on you can see this is all spiking you see this relative volume There's another step run. So now I gotta do it over again. You know, you usually don't have Set up after set up after set up after set up over one right after another but so let's just go back to this original zone, right? If I were going to get in aggressively I would be I would have been in at 69 remember that was the price we were talking about now what you can do is Trail your stop based on the new setups and then actually add to this tray Right, I just didn't get in aggressively because of the lug, but I was you know, if I were getting in aggressively I could have been trailing my stop based on these new setups. So again, this is kind of a rare It's not rare, but it doesn't happen that often where you just get set up after set up But it is what it is, right? So I'm just going to delete this and I'm going to draw the news up because it's basically on top of each other so No, I I know I'm missing the move here But you know, it is what it is like I needed to see I just watched so many of these setups at the lugs Like I just wasn't willing to go aggressive there if you thought there was enough to go aggressive Well, then you're in this trade And you can just trail your stop based on the new setups, right? So that's one 71 66 all the way down to 39 I'm just mad that I didn't short this earlier. I had a chance and then I got sidetracked way at the high And I keep telling you we're going to go over it and we will but I just haven't had a chance 71 66 down to 71 37 Any questions Bruce on any of that? What am I doing here? 71, 56, 77, 37 No, we're we're good here on questions Here's still at 39. All right. So now my prices are you know, barring another set up coming in which may happen 70 94 Let's stop at 70 209. So I just wasn't willing to shorten into that lug or else I should have already been short this from up here but it is what it is so Now I have a decision to make do I want to chase this down? It's or wait for retest failure I'll still go short this market But the point is do I want to go on aggressive or do I want to wait for that? I'll just wait for that because Again, this has come down so much. I'm assuming well at least at least Doesn't mean the selling is done by any means But I'm assuming my odds are pretty good that we get one of these one of these And then that's kind of just confirmation that the that I'm okay to short still, but I mean We are other things you want to pay attention to we talk about this all the time This is extreme standard deviation of VWAP, right? So this was This is turning into a hugger. We call it a hugger and you get huggers So here's the VWAP daily value, right? So this is one standard deviation one and a half We're at two Two and a half ish, right? So you'll get huggers when the relative volume is really high because it's like this self-perpetuating Cycle where you get these algos that play the Reversal that they just kept getting run over by the big money and then they turn around and puke Then they buy it again turn around and puke those are the days you get the huggers And you only usually see the huggers is when the relative volume is High like it is like we just shown, right? It's it's elevated right now You see these bars, right all these bars. That's At least two times normal volume and that's why these algos are getting run over Right. So my point is many unless you're seeing that volume A kind of relative volume coming in at these extreme standard deviations You want to be very careful of shorting because these algos usually will win, right? So as soon as this big money's done and this puking is done You can bet you're going to get some kind of snapback And I just want to be careful of being an aggressive with the shorts is what i'm saying, right? So i'm going to just wait for atr retest on this just because i'm i'm still wary of buying this deep into the standard deviation of e-wet Right, so i'll still short it, but i need to see This this and this and i want to make sure it doesn't do this and then that All right, so we'll just keep an eye on it Again, I missed this entire thing from up here. So what i was getting at this morning So i was watching this this is when we were up here. So it's gapped up and we were up in this area So first of all we're in this zone. I'll just show the zone how important the zone is overall This is a weekly chart, mind you, right? So this is going back I don't know why this does this every time. So let's go back 10 years All right, so you can see how important the zone was over many years, right? So this was This was actually three years ago here Let's see. Let's see how far this goes back. So how relevant this was So you can see here. This is going back seven years So that you had been mining this is a weekly chart too, right? So you had some balance here Directional conviction huge move down came back held directional These are like $10 moves just these little blips here and then this was like this was the move that eventually led to that minus 38 Whatever it was that they were guys got killed where it went inverted But anyway, the point is this is a very very very important zone and when it finally held above it Then it took off. So you can see this was this was like the last Balance remember, this is weekly. This is all fractal by the way It doesn't matter if you look into five minutes or weekly Yes, the bigger the time frame the more powerful these balance areas are and so on and so forth, but you can see this Finally broke out of here and then led to that And then it bounced the other day and now we're through it. So anyway, this was a major major major zone That's my point And now we're through it to the downside. Let's get this back to Really? So anyway this morning we popped back. So we oh yesterday we got below this zone Right and then this morning we gapped back into it So we were actually I remember correctly we were a little above this and I'm like, okay Well, that this is this could be bullish this should this could head back up to this high volume out of this guy Right are these zones here? But I was I was saying, okay, I'll and there was some there was a long or a setup. There was a stopper and I'll show you And algo guy was was was this is before the open right before the open algo guy was bullish, right? And we were just pulling back and like, okay, well, this should hold and this should do this Well, then we had a setup and what keyed it for me is we're doing this reversion trade in my room and so many times These markets will revert back to the volume of that. So this is what this was the area this morning, right? So I was watching this I actually took this trade and I lost on it for a reversion trade And I was like everything was pointing bullish, right? And we had the gap up everything we just talked about and I'm like, okay Well, this should be coming back to the zone and it kind of just hot nights your butter It was like 150 ticks. There was no setups Besides this one. This was a dumb and dumber. So if I wanted to be aggressive here, this would this was the place to Shorted but this was a stop one that was not real buying the fail This is one of the five one of my six setups on my course Dumb and dumber, right? So anyway, I was waiting for a retest and it didn't Everything was looking bullish and I'm like, what is going on here? Like this thing just drifts down 150 ticks. I'm like, this is going to get killed today And then this so this is where I screwed up not putting on the trade And this up here. So you can see this was then a stop and hold This is where I should have been aggressive to get in this trade from basically this price This is not not so much because again, I thought it was looking bullish at the time. But once that failed so what I'm getting at here is So many times when something you think should happen doesn't happen That is a go time for the other way. So I'm thinking bullish bullish bullish Okay, this is gonna we're gonna have an updated a and then this happened I'm like, what is going on? Like you usually will retest his own gets crushed Then that's comes in and that's that's bearstom. This is a stop and hold where you get the stop run Then the big money holds in and keeps pushing it down. I'm like this thing's gonna get smoked, right? Because I was expecting one thing Something else happened and then this will key you to get short to catch this big move, right? And I didn't of course because I missed it. But My point is what you're what Analyzing markets when you think something should happen and it does not That should it's not that you fight it. You're like, okay. That was wrong. You may even take it taking a loss Right? I took a loss in the urgent trade. It's like, okay. Well, that's just information Now I'm gonna kill it going the other way and you can see it led to this huge move So I saw it. I just had so much going on today I did not catch that stop and hold that we're talking about and then it's just been straight down Sun Sun so But what you need to know now is just we're back through that important zone I lost my chart All right, so this is this is bearish like this is not gonna be pretty for crude Which is good for our gas prices. I guess but so these were zones drawn from a long time ago Obviously this there was nothing there was nothing here our side have zones So I could totally see this today and a tomorrow heading down to these zones all based on what should have happened didn't like I said overall This is the bigger bigger picture. This is all stuff you want to know, especially if you're trading longer term You had that whopper right multi multi week and you had this guy Right and you had little dudes Bye-bye So imagine if you're a big fund or something now and then that's the other thing too spuck ammo was talking about I was talking about crude energy. He said funds are liquidating right? So the point is Yeah, if you're this fund that was long in this area Oh, yeah, you're liquidating right and now you're like, oh crap. This isn't going up I gotta get out of my I gotta get out for my clients so on and so forth So you don't need to know any of that you're never gonna know what's going on as far as what our funds are doing But you do know that these are traders placing bets and when they're wrong It leads to huge moves, you know away from that area and that's basically what we're doing with the sign indicator setups All right, so it's pretty dead. Um, you know, I try I'm trying to go over how I look at markets But you know, even if you don't all that stuff is it takes experience and you know, you learn You learn how to you know, read market structures and so on and so forth Even if you're not at that point in your career you You can trade and be profitable. Just trading understanding how the markets react to these volume events, right? The better you get at understanding the bigger picture, the better you're going to get with these volume events Especially to catch monster moves But you know, if you're a day trading and you're just learning You don't need to understand have to understand bigger picture contacts for day trading So I mean you definitely want to know it But my point is you can trade these if you know how the markets react to these areas You can trade them if you have rules playbooks based on You know what you're looking at and that's what I try to show when I get in these webinars as far as atr In the areas and what I expect to see so on and so forth. So The important thing here with the nasaq before we get into the seat map We have about 15 minutes to do it Is look what's happening here. This is why I scratched this trade right for the tools I use This was telling me Okay, this said there's so much confluence up here that this may not go Right, so what is important here? Well, it tried to get out of here Didn't happen tried to break the lug didn't happen. We had a bullish volume event So not that you're gonna i'm going to trade short off of this particular event because I don't trade You know, I won't trade the short side if this gets a full atr above this volume event But I know all of this stuff happened kind of like the crude, right? So I know what should have happened. Guess what? That did not happen You can bet your bottom dollar if this breaks this area and you start getting setups I'm going to enter aggressively short like I should have done with the crude trade because of what didn't happen See what I'm saying. So you understanding. Hey, this is a bullish event. This thing should rip. Hey, it didn't rip Hey, it held all those areas doesn't mean you're trading off this particular event But guess what this gets below here. We start getting events This thing's going to get killed is my call, right So it doesn't happen yet. You don't doesn't mean you're just short right here I'm not doing anything yet But I'm telling you you watch the rest of the today If this gets below here and we start getting a volume events and the market's able to push atr below these volume events You're going to get a monster move lower All right, so let's uh, again, there's nothing going on to even really trade Besides crude. Let's just take one look. It's just bouncing on this I'll keep an eye on this but I will trade this with the atr retest. I've been talking about but let's go over the the Let's go over the heat map stuff or not heat map. Yeah, trade trader map pro trader map pro All right, so what do I do again? So I got to make a copy of this, correct? Well, um, no just go go up to um the um The tool bar there that's uh Whatever instrument you want to you you want to get a filter for So start with that. Let's do this. Okay. So then click on that. Yeah that fourth button there on the on the toolbar. Yeah There's yeah Okay, and then trader map pro click on that. Okay, and then uh, Let's see. Uh, yeah hit um create All right, and then scroll down a little bit that feedback thing just say um Well, don't yeah, just leave it for now. Um, if you're back We want your feedback though Anyway, you'll get it. We got it. We got it. Yeah. Yeah So so now Now see that they created a new instance here and you can see the symbol name You can give it your own name as well. Uh, it's it's also down below. Um And and that's the new yeah that that area there So you can give it a name in there and hit apply Uh, whatever you want. Why why didn't this this one in parentheses? Why didn't that carried out here? Um, it Will I believe the instrument and then the new So so any anyway, um click on that. Let's just do this. Let's see what happens right now. Is he Yeah, I don't I don't think it'll work. Um Because uh, that'll is for creating just a new one. So you so Yeah Give the name give the name. No, no, no go down below And then give a name in there in the copy name area. Yeah So that's where you put it. Okay, uh, and then uh hit apply Okay, and then hit add Okay, now this is where you're going to add your filter Uh, and uh, there's going to be multiple filters that you're going to be able to add in here Uh, right now there's just three but let's go with order size filter mbo And then uh from in here, uh input the number of orders you want to filter for so between what and what So I'm going to go 20 we think for some reason you think 10 is a lot It's not so 25 to 100. How about that? Yeah, we'll put it out leave leave a thousand in there. Um, all right as well and then now hit subscribe Okay, and then you can close this Uh, and then you have to go to the new toolbar or it popped out a new image Chart, uh in a tab. I'm getting all of these weird. Uh, trader man pro has lost connection to mbo. I'm getting Yeah, yeah, yeah, yeah. So so just just just uh at the bottom because because the mbo is not included in it. Yeah So at the very bottom see the x see the x at the very bottom. Yeah, click on that Um, you know Okay, so you need to update you need to update to a newer version. Um, Uh, I thought I was supposed to automatically update Yeah, I mean, um, it's really annoying. Yeah, it's my feedback. It's really annoying. Well, yeah, you'll need to update the um stops and icebergs to a new new version. Um And uh, I thought I was on the most recent version 3.6.18. Yeah, there's one Not sure, um It should be uh, what am I using hold on? I mean, it's good. This is happening on the webinar So people know hey, it's just not my you know, there's gonna see that to freak out this happens Or you know, you know the best thing to do would be to um Just go to your um, let just for this demo go back to your um original um instrument es Okay, and then um Then click on the Yeah up there studies configuration and then deselect stops and icebergs. Uh On chart. Yeah, just on chart just on chart. Yeah All right, and then now you should be able to go back to that other instrument Okay, and then click there All right. Hey there Oh, okay, so go back go back to the original one and click also deselect the on chart Or sub chart you need to sub chart. Yeah. Yeah, that's not cool. Oh, it'll it'll come back for you. Um, All right, so you say so and then deselect that Okay, all right close this one close this. Sorry about this I close that instrument that and then keep keep your regular es open. Um, but uh, I'm closing the copy close the copy Yeah No up above the x button Or you can right click on it and I can't find the x button. No, it's it's um It is that to close that window Well, I know but it won't scroll over for me to find the x so this is for the copper I can't I can't find the x should I'm saying um It it's on the other you pop you popped it out there. It looks like so, um, it's the It's the one that has all the scrolling error messages there This this is my normal. This is my regular And then this like now I can't find it. So if I'm here So I don't see that anywhere now I click on the night. It's nowhere to be found. Okay. So here it is. Here it is All right, okay, so you have to look close it Uh, and then in there. Yeah, click on that and now see that wasn't happening before Yeah, I couldn't get to this x is what I was saying. Right, right now unsubscribe Oh boy. All right. Okay. So now let's do it again though and go back to that es go back to that es Yeah, okay uh, and then uh now go to the Um studies configuration trader map pro and now hit just hit subscribe again. It's all set to go It it retained it Huh interesting that shouldn't happen. Um Again, it's at least as good as happened on the webinar. So people are drilling support on What's going at least they're seeing This happens and I I mean I I I went through this process a few times and you just as long as it was updated everything was fine. Um, so Okay, let's let's just stop. Um, and uh, yeah, forget it. I got that should do the trick because it's you're no longer getting that mbo data um, so However, it just continues to scroll here. I'll I'll send this exactly this exact moment to the Developers in the webinar so they can see it All right, so I guess we won't be doing that today Now I better get my not that anything happened today, but it's better populate Or you're in big trouble Is this going to show me the past stuff? Yeah, okay. Yeah. Yeah. It is because you You you already opened your your symbol and rhythmic and you'd already started collecting data All right All right So this is just yet another webinar that I've not put on a trade But I did put on one shouldn't be scratched it. Yeah I put on one trade and I scratched it and I had a reason and Well, you had that that was interesting. Scott. I mean you had multiple reasons. Um, so the And what what I did is I just made a mistake because I did not I should already know all of that before This is what you guys should be doing every morning, right? You need to be going over Whatever you look at you need to know for whatever market. Okay. We're here We're here. We're here. I I should have already known before I even put on it And I actually did because I remember looking at it. That's why I said to being a member if you heard me I said I think we're close to the red lock I put the trade on first which was stupid because I could have taken a loss in hurry But I didn't know I knew we were here, but I didn't know it was extreme standard deviation I didn't know this was the top of this profile. So all this was telling me Yeah, this the setup is bullish, but it's just not a good spot to go long And if this is a market is truly bullish, like I said, then And it's this still could happen, right? This still can go here Here's just just retesting this area This can move up higher and build new lugs and then I'm ready to go and then I also know Hey, this original area held Right, but I'm just not I wasn't willing to take it off of this setup because of all the confluence bearish That was going on there But if this does hold this just guys, this is all stuff that you keep in mind If this starts motoring up just like I gave an example if this starts motoring down from here This starts motoring up we get new lugs and you get about new volume setups. It's time to fire the same this way This does not hold Should have ripped it didn't it should have held it didn't then trust me the setups that come in you want to be aggressive on the bear side Right now we just sit and wait and this is part of trading right It's sitting and waiting till you get till you see what you want to see and then you fire like a sniper We like it into being a sniper all the time Right where you will most traders get in trouble why most traders don't make it It's because they're trying to catch every move that happens And it's just you're just not going to be profitable doing that. You cannot compete with these algos Like I said before It used to be a huge scalper. I used to be tick for tick tick for tick right printing money Well, if I'm not doing that anymore, there's got to be a reason for and I just didn't say Oh, you know what that's boring. I don't like making millions of dollars. I'm going to go to the longer term trading Right, there's a reason because I it's not possible and I'm not saying you can't make money scalping Especially I mean when we finally start to look at this trader map I think there's some huge opportunities that Bruce showed me before but other than that Trying to scalp with these computers with these algos. Good luck. Right. Trust me. I would love to scalp I'd love to go tick for tick in here. You can't do it. These orders are fleeting You can't lean on anything if you're wrong. You can't get out the things swipe. I mean it's Again, I would love if you can make money scalping consistently and I'm talking more than you know a week a month You you show me your p&l for a year of scalping Statements so on and so forth. I will literally I'll put up like a homage to you on my website because it's it's it's just now by hand I'm talking clicking the mouse not coming up with algos because that's the whole thing if you yeah If you can write your own programs You can you can compete with these algos, but I don't need I don't need to do that. I don't want to You know, especially the older you get like first of all scalping is a young man's game And you got to be on top of your on top of every tick and you got to be concentrating non-stop You can't like lose your concentration the older you get the more it's like Okay, I know these I know these lead to big moves. I'm fine with putting them in and letting them work Right, but even if it was, you know, still scalpable Like I said, I'm a little too old for that But if it was I would probably still try to do it because I made so much money doing it But I keep telling you guys and girls if I can't make money doing it I used to be one of the best at it Then you may want to say hey, this is probably the direction that go on my trading I want to look more for the bigger the bigger volume events and trade for bigger moves off of those volume events, right? So It's just my two cents. I think that's why you come on these webinars to get my experience Both good and bad, right? It's not all sunshine and rainbows. You come in my trade room I make mistakes and complain and go off the rails A lot, but that's a learning experience too. You can get on there and be like, wow I don't want to be like him. I don't want to be negative Nelly like him so on and so forth So learn from my good and my bad But the point is learn from my experience in these markets So you don't have to go through that same experience as as far as the negative side, right? That's why I do these webinars to help you guys Not have to go through 20 years of torment learn the right way the first time then you're not tortured and not blowing out Different accounts feel 10 different accounts in your life That's my goal of these webinars for you guys and to teach how to use book map, which is the most powerful thing I've ever seen All right on that note, uh, nothing is going on. This zone is holding So if we draw new lugs, I'm ready to fire on the long side other than that there has not been one setup besides This first setup this morning and the stop runs include. This has never got an ati below here yet So I'm watching this if this turns If this particular setup Let's say this does hold for right now Well, I go along. Well, this goes at our retest I'll possibly give this long a shot because this is telling me This is the real time buy-ins telling me. Hey, this is done selling off for right now We could get a minor pop. Am I expecting some huge move up? No Based on everything that I said, but I'm a day trader. So I would possibly let that mine event tell me I mean, I'm not loving it down here, but this could pop back into the zone or maybe here Right and then I'll get out But I think the bigger picture is getting killed, but we already had This thing has already moved 74 75 down to Now that's it's almost 400 tick down move, right? So I missed missed the party on that one I still think we're going lower. But my point is I let this dictate what I'm doing So if this turns into a boss up, I will possibly go along here Other than that, uh, if there's any other questions, I'm happy to answer them If not, I know you get your other guy ready to start here Yeah, yeah. No, I think I think we're all good. Um, so Yeah, thanks Scott if guys if you Like the video, please or the vote amount please hit the like button subscribe to the channel So you get alerts etc and Yeah, other than that, uh, it looks like I made a mistake there Juan was saying it was just a naming issue on that trader map pro and I wasn't paying attention to it I've just had the the mbo thing happen so many times. We'll do it again though. Scott. We don't have time for it now Um, uh, we'll do it again next week. Yeah, I mean it I believe it it was it's uh, it was fine But I'll look at quickly what I guess I want to watch. What did I do wrong? Or we'll try it again quickly here So go go back to it and then now click on it and then here See see you have the name trader map pro put in two There see because you you're simple Yeah, just try that. Yeah, click apply Apply on the name Yeah, and then subscribe All right, and let's see if it happens again I'm only seeing two of them right now. Okay, so then close them Yeah And there it is. Okay Lost connection to mbo stuff's nice. Okay undetectable. Uh, all right Um, I do have it turned on again. So I don't I don't Try it one more time Oh, you had you had the stops and icebergs on again. That's right It's still I'm still seeing it on a different screen now. That's yeah So try try closing it now Yeah Um, are the symbol try closing and reopening the symbol The bad name is at the top Huh, okay Yeah, so yeah, that that's where it is. Yeah, so put in the two there I I'm sorry that's too. Okay. No. No. No. Just take take out the two Ah, no original instrument is the Let let's take a look at it again next time. Um, I'll figure it out. I'm sure that it was uh It's something pretty simple here Because it's originally had looked like this Yeah, so leave it at that and then put in a some just type something in here No, no, no, don't do that put in like just type in a string out other things Test test or something. Yeah, that's fine Yeah Yeah, try that Right. Mm-hmm. I could see it on another screen. Okay. That that's it. Let's we'll we'll figure it out Um, I I think we shouldn't have this we should have the mbo shown in here anyway Just to avoid this error, but uh Yeah, we'll we'll get to it Delete the Yeah, yeah, yeah, that and that that's that's correct. I'm a little confused. You guys can see it clearer than I can right now. Um but Yeah, delete that Well, let's just get to it next time We got to go We got to go All right. Well, don't please don't be sending a bunch of support messages you guys until they get to I mean This is brand new so just bear with them. But we fixed this already. I it's this is my I should know what's going on here I'm sorry guys. Um The I'm just I can't quite follow what it is right now. Um, but Uh, we'll we'll get to it. Uh, and I want to talk to the developers about just offering mbo in there Anyway, that is unfiltered So this will never be an issue anyway So all right, we'll we'll we'll try it again next time Okay, cool. Okay. All right. Well, thanks scott. Uh, and we'll see you next thursday Up. Thank you. I appreciate it. Hopefully we'll get trade one of these days again, but uh Keep an eye on nasdaq again. Whatever way this breaks from here is probably going to be the big move So be ready and obviously yes, if there hasn't been one signal in here today, but All right. I will see you guys next week Okay. All right. Thanks scott. Bye. Bye