 Good morning traders and welcome to the bookmap live trading webinar today with Scott Pulsini As you guys know Scott Pulsini is a future trader. We do this every Thursday at 10 a.m This is all part of the bookmap education that you get is every third and the whole concept here Is that we have an educational course on order flow? Then we have the follow-up to that every Monday Tuesday and Friday Wherever you go through that course content in the live market So you can apply what you've learned and then you've got two different traders You've got a J trader a stocks trader on Wednesday and Scott Pulsini a futures trader on Thursday To go through the way that they're looking at the market. We also have Tom B Going through volume profile in the afternoon and the way that he trades order flow and looks at volume profile together with bookmap So we really offer a pretty complete Education here. It's all free. We hope you enjoy it Let's continue on and you guys know who Scott is. I've got his contact information here He does offer educational services. I'll be putting this into the chat if you want to reach out to him and then We got to go through the risk disclosures here. So please Listen, this is important This is all for educational purposes. Alright, so general disclosure all bookmap limited materials information and presentations are for educational purposes only and should not be considered specific investment advice nor Recommendations live trading is in simulation demo paper trading mode and strictly for educational purposes Live trading executed in simulation cannot accurately represent realistic trading performance Risk disclosure trading futures equities and digital currencies involves a central risk of loss and is not suitable for all investors An investor could potentially lose all or more than the initial investment risk capital is money That can be lost without jeopardizing one's financial security nor lifestyle Only risk capital should be used for trading and only those with sufficient risk capital should consider trading Past performance is not necessarily indicative of future results. Alright with that said, let's turn it over to Scott and Let's get going here Scott, can you hear me? Yep, you hear me? Yes by MQ 154 contracts All right, my size bird by MQ 151 contracts Stuff is hitting the fan, I don't swear So here this is actually a delayed Double whammy just had a stop run not too long ago 160 something and then now you get some bias here, so These markets, you know the short-term trading you can see here in my luggies load with levels We are a support the blue love support, which is very powerful but You know, I won't buy this because I'm a day trader, but this is not looking Positive at all like we may get a bounce and you're better off You know, I can understand that wanted to buy this we've been talking about this in my room for Especially yesterday after the Fed met and I my exact quote was if we broke this You know, we had this up move and the down move and then rejection And then we did up here came up here to the zone and I said whatever, you know way this This breaks above these tails is going to be the next big move and this is not good for the markets Like you can see this is a this is a daily level I'll show you a little bit This this was all You know based on structure before the Fed we were talking about this as well You had balance area. We tried to break down but more balance broke out of that balance Got to the high vibe node and that should have done that instead. We messed around after the Fed and Now we're below this latest one that we broke out. So that's a fail breakout. That's a fail breakout This is coming down to probably zero today. I'm just kidding, but it's not gonna be pretty that on top of One Internals just getting smoked again. So I think like I was on vacation last week Of course, I missed a 10% down move because that's how I roll when I leave. That's when the markets actually start trading But we've had like three or four out of five days, you know, just ridiculous extreme I think Monday or Monday or Tuesday, we're like minus 2900 on the ADD minus Like minus 2,000 if you get near 2,000 as a trend down day, then this is just ridiculous This is like capitulation type of trade, but So the point is when you see the ADD this low you be must very wise you just wait for bounces to short them Right, so just keep that in mind. I may take it as long on this webinar But this is not looking bullish whatsoever. That's NASDAQ. Yes, it's the exact same as far as in deep water What I really want is You know, I don't even care about catching along there I just love a bounce back to that maybe this zone to get short and then you're gonna You should see a monster. We may just do it right now, but I'm hoping that just does it usual Screw you move first You know screw all the shorts and then then go but So I was contemplating shorting this this these were to stop runs earlier in the ass back to back You can see them down here. There's like total like about over a thousand. Yeah, this yellow zone and the white zone Technically, I'm supposed to short this below the Because we're below the old lugga shorted aggressively at an ATR. The problem is we're so close to the blue log I want to be Careful you can see here. So if I short this ATR currently, so I use the five minute ATR. So it's 9.27 points That helps me gauge the volatility and judge my zone So if I'm shorting that basically 10 points below here that means I'm getting in at 75 Well, the blue lug is at 62. So yeah, that is 13 points But my risk reward isn't isn't good right because if I get in 10 points below here So if I'm in a 75 I've got a risk. I mean I can do it off this list on I guess, but that would still be 10 points I gotta my the way I trade as I get an ATR outside of the zone So I don't get algo down the nonsense move So I make the market proof it can get back through the zone and an ATR above there So my stop would be right around 01. So I'm risking, you know 25 points to make 13 That is not how you want to trade you want to be risking 13 to make 25, right? So I'm not gonna take this particular trade even though I think we can You know, especially with this bias that if I do think we can move straight to the to the plug I know what guys are saying like well, I'll just short it and not put my stop right here We talk about this every single week every single day in my trade room You cannot just play places arbitrary stop area at prices Based on what you want to lose or don't want to lose the market doesn't care What you want to lose the market cares about volume areas So if you want to be not be algoed you need to be placing your stops above Structure of the bottom the volume of that, right? So yeah, I could go short here and I could you know if this comes down into 75 Which would be 10 points below here a little more than ATR. It's 9.27 right now Yeah, I could get lucky and it could just drill right down to the 60 that's 63 blue lug, but Most likely it'll do this and just random area because there's nothing really going on here As you can see and I'm gonna get stopped out if I you know So many traders just put on the train like I only want to risk five points again The market doesn't care you want to risk five points and you're very very likely especially with a 980 r to get stopped out You know Anywhere within even nine points. So if you put in here like all I want to risk 10 points You're still very likely to get stopped out. So You got to judge, you know risk reward when you're putting in your trades the one trade I did miss because I had to get up for my chair At the time this was a good trade. This was This was large sell ice in Russell RTY and we're below the yellow lug as you can see here So I could have been aggressive on this one. So I should have been shorting this technically The ATR is 44 so 44 takes below the zone. I should have been on this trade I just I had to jump up and that was costly, but so that's what 38 34 So I should have been short right here. Well, I'm one second We lost you Scott Yeah, sorry, I had to say goodbye to my daughter. She's gonna go off to Wish her good luck. Anyway, I should have been in right around here And I'd say a very good profit. That's over 100 tick profit that I would have had It is what it is There's gonna be many more opportunities in this market today So what it was also we talked about yesterday my trade room after the Fed like usually that the fit the Fed comes out I Mean the big money comes to play the day after the Fed so you can expect some decent trade today would be my guess So these markets are just getting smoked obviously the other metric that I watch for is this edge product so All this is showing you Is the S&P 500 stocks every stock that comprises the 500 whether they're above or below their Task five minute boxes, which are like little mini market profiles So when you get this thing extended like you can see at the at the open We were extended and it kind of just hung here and now we're pulling back But you want to be very careful initiating shorts or long as if the you know shorts if the red is above the 67 percent line or if the Long as if the green is above it just because you're gonna get this reversion type of trade So I keep an eye on this so say if I wanted to short right now I wouldn't be too worried it's at 62% But if this pops back up to 85 and then we get a volume signal I will take long because it's way oversold and we'll probably do for a little bit of a bouncer even though again The internals are extremely bearish Any any bounces are probably gonna be very short-lived So you better be ready you better find an area to be getting out of your lungs because I don't see some sustained move You know on any bounces, but I think we're Pretty due for some kind of bounce here. You got to be careful doing that too, right? We're not the market's not due for anything the market could keep going down and keep going down and keep going down right, I mean, I'm going by you know Watching these markets for 20 plus years and what I expect but you just got to be very careful doing that And you just got to let that's why we're using these volume setups to tell us, right? So yeah, we should get a bounce here pretty soon that doesn't mean it has to bounce So when you got so many traders like we'll just blindly buy something like right here because it should bounce Well, that's not the way to trade let the volume setups tell you so if it's gonna bounce You should be seeing a bullish setup come in like buy ice or another stop run You know again stop runs not really some real selling So if you get us another sell stop run and then it just kind of sits and starts to reject Well, that's telling you that that probably get the bounce but just blindly buying here because you think something's gonna happen that is a recipe for disaster so Do we get an ATR below here 76 the top of this the bottom of the zone is 84 84 75 so We did not get a full nine plus points below here again ATR is 9.11 so Again if the blue log wasn't so close here, I would short this right about here So but the blue lug is right here. That's not worth what I have to risk if I put that trade out So I'm gonna Remove myself from that market for right now draw this First and foremost, let's see if we built new loads in here. That'll be very impregnated So we see we just built new lugs actually I should be going short this right now So this is the most recent setup that it did not draw because I've been chirping Let's get that drawn. So we had the stop run and then we had this by eyes pretty much in the same area See the spike make sure you get all the bubbles in when you draw your zones for the spike So technically I'm supposed to be short this An ATR just outside an ATR below or so 30 356 is your 34.56 is the ATR So I will short this The bottom of the zone is 32 So we're gonna go a little outside an ATR so 40 would put us at 92 95 So now I have to figure out my rest great So if I'm I'm shorting this basically 30 points below here because I'm getting a little bit outside of an ATR We've changed it right before I was 70% of an ATR then 80 then 90 and I kept getting ticks So I know I'm outside the ATR and it's been going much better where I'm making the market proven Could you have these elbows that will rip it back at an ATR from the volume event, right? So if you get outside of it, then you know, you're usually pretty good to go so For this risk of this trade I have to risk I'm obviously getting in 38 points below the bottom of this blue zone Right, and then now if I get filled then I'm risking Then I have to pull my stop 38 points above this zone, right? So that's 38 38 76 and then you have another So it looks like 10 points, so that's 86 points of risk. I will take on this trade I'm willing to do that because the volatility is telling me we could you know Move at least that if not double or triple it, right? Especially in this condition right like this market is in the middle of this is the next area down down here That's wrong. This is the next area down 11,000, right? So if this gets rolling I'm basically risking 80 points to make 100 Close to 150. That's the trade you want to make. You don't want to be risking 80 points to make 40 that type of thing, right? Excuse me, so we're getting actually right now. We're starting to bounce a little bit so But that did not get an ATR below there Of this newest setup so technically I can also go long on this setup because it has not been disqualified As a long setup because we never got an ATR below here. So that's the way I trade these right? So I determine what the setup is based on if the market is able to get an ATR above or below Right, so we never got an ATR below there Right, so this is still intact for a potential bullish setup Now for me to take a long in this situation because we're below the new yellow lug I'll show you that in a second. I need to see a full ATR So 36 points, whatever it is. I'll check here in a second or retest a failure And then I can go long the short I can be aggressive because we're below the yellow lug That's the way I trade it, right? So I use the lugs obviously pretty extensively but you can see We're hovering Below this so if this moves Below this there's a volume setup right right in here I'll take that aggressively to go long since we're below the yellow lug I need to see a full ATR from that Isome that I just drew a retest failure that I'm going long, right? And that's just from experience and using these lugs and the volume areas and everything else The best scenario here for a short would be a rally back to the bottom of this today market profile composite anywhere in here Which would be pretty Any kind of no man's land So This would be a good area to short But if we get up to this red lug, I would still short it Get in the sparking condition that that's what the ideal short is going to be not chasing this market down Wait for a rally and then logic and hammer Because of just because of the structure I just showed you because of these internals like you want to be very careful Buying and then trying to hold thinking you're going to get some huge move up because it's going to be probably very short lit so All right, um Get this other stuff set up here Oh, I want to make sure I have the right sort of I say 85 points of risk. So I come to my risk calculator my account value So I want to only be risking about one and a half to two percent of my risk You should as well. So if I go to 85 points, it's going to tell me how much I can be putting on So you can see I could put on a two-lot, right? So very very important. This is we I'm not going to rant today Hopefully about that but if you're not trading the correct size position size for your account You're going to blow out eventually you may get lucky for a while. You may even get lucky and run it up but There's a high percentage chance you're going to blow out your account So that is the number one thing before understanding anything about trading You need to understand your risk and what you can risk and what you can't As far as your account size Yeah, scott. It's kind of funny. We can kind of verify that By looking at this new liquidation indicator for the crypto markets and Binance futures is a leveraged, you know crypto exchange And it has like by far the most liquidations than than the other Exchanges it's just people it just it just shows you people don't know how to manage a leveraged account I will especially in crypto because you have you know a lot of You know, you see commercials on tv to trade crypto, right? Just like you got a lot of these all these like The retail trader not even real to they're not even retail traders are like mom and pops that have no idea And don't know markets at all that all they see for the last five years And how how it's just free money to get into to Um crypto trading and buy bitcoin and everything else So they all jump in there. They're over leveraged and they have no idea what they're doing and then they puke So I you know, I've been trying to avoid watching that because again, I don't want to be up all night every night It's really hard to do at age 50 But that that's got to be a way better indicator than even the stop runs in here Just because you see where they have to liquidate. That's probably it You know the the smart money gets these gets these Um uneducated traders to liquidate and then it just turns around and I I would bet it's a great Universal signal. I don't know if you've been watching it. Oh, yeah, I mean it goes right. I mean, it's uncanny. Yeah See this this is why I have to look at it because when bruce and I'm talking to the audience now when bruce starts talking like that like in Extremes like if you hear extreme vocabulary words for him, it's the real deal, right? So I tell the story every time i'm on here You know when he was telling me about the si indicator a couple years ago He was talking about the cme mba. They didn't have the si indicator yet But or they were just building it But he kept telling me about the cme mbo data and he was like doing back flips when he would talk It's like you got to see this thing. It's unbelievable. It's incredible And I'm like, okay, I'll look at it eventually and then when I finally did Change my whole trading style, right because it's the most powerful thing I've ever seen as I say every single time So my point is when you hear bruce talking like that you might want to check it out All right, so we're still uh No no fill here. We still haven't got an atr below this latest zone this blue zone You know again these two zones are pretty much on top of each other You had to stop run and the buy ice that we just talked about so just waiting to see what happens here The other thing you want to notice is There's only one band of liquidity down here, which isn't too far from my order Remember liquidity is Almost always magnets, so it's not meaning you want to look at this as support You want to look at it as the market is heading to that liquidity It's here Russell same thing You can just quite get down there. I would love one more chance as I missed this trade I'd love one more chance here Retest failure and then I would still take that short and watch it go right into that. That's probably exactly what's going to happen Here yes, never got an official ATR below these two stop runs either or this latest stop run. That's the white one That never got a full atr either So these are still intact for a bullish type set up, right? Because we did not get an atr below here So I will still play full atr retest failure to the long side on this trade as well Or on this market as well The reason I'm going to do that is because we're still below the oh look That's why I'm not going to take that long aggressively and I really don't want to be long But I could see because we all know if any if you've been trading this for any length of time You know these markets, they'll do some screw you move pop up. Maybe rip up to here You know make all the shorts puke and then it'll turn around it by the end of the day and sell off like 100 points So that's exactly what it's looking like it may do, but we'll see You know and then you just want to come up with if then scenarios, right? It's like You come up with your scenarios and then When you get the volume in that direction that just gives you more conviction Then you can actually trade a little bigger if you get a lot of stuff aligned You know the way your thesis for the for the day and then certain areas and we get everything aligned And then you get the volume, which is the main driver, right? It's the main driver of all markets and it's the main driver of my trading You get that in the same direction and then that gives you the confidence to put on the trade and then The other great thing about the volume it allows you to understand the area that's important for your stops, right? So I understand if this market this is es again This market gets above this latest stop run, right? Again, they were two you can make this one big zone if you want Um, which would probably be advised This was all this stuff here the stop run here 750 and you had another 527 and another 430 so that's that white zone. So the white zone isn't over 900 stops, but you can incorporate both What I was saying before that but the point is you want to Oh, you can you can determine your risk, right? So This is the volume event. This is what you want to trade off. So if you do if I am getting long I know the market should not get back below this volume event If it does then i'm wrong and I reset and away from my next trade But this is another thing this allows you to do is understand where to put your stops Just like we were talking about most traders will get long right here And they'll put their stop right here because they don't want to lose more than four points Well, you can almost guarantee this market will elbow You know around in here It's where you want to make it do or see is show. We can get an atr below here, right? That's the key So that's what another thing that you can really control your Your risk and know where you're wrong with your idea So this is the bounce that I was expecting but it's not Bounce my chat with someone out of these zones. So still waiting to do something here So this was something right at the open this other zone here So this Yeah, so this is 300 ice here This zone here that's obviously broken ice. So I get this question all the time. They're like, well, when can you, you know So say we came back up into this zone here, right? That's this big ice right there Right there like well, would you still trade that zone? In certain circumstances you could I usually default to the most recent setup, which is this one, right? That's this blue zone, right? So you want to be careful trading old zones the same as if you know, you're looking at an important So say like on the bar chart, right? And you're looking at this this zone that I drew it's important There's a bunch of stuff even before but it was still important I mean yesterday But say we come up here and we do this this this this this You know, this is almost not important anymore, right the same with the SI indicator You know in the setups, you know, this was passed. You don't want to put a lot of weight on it Many times it will come back to a prior zone and fail But where I or I will play a prior zone if it led to Directional convection. So basically a straight straight beeline move out of there, right? So That was up at 11275 I wouldn't consider this That's basically yeah, it's not bad. You could especially and you also want to judge the size too So the size of the of the SI so that was like four three four hundred ice you could trade that Based on the size and it did lead to I don't really consider this directional conviction, right? This is like a little bit of a move and then it's been kind of chopping its way down and now So you could trade that prior zone based on the size. I'm not going to Myself But I'm gonna try to find another example of Sure, we can find so like this, right? This is natural gas the other day So if you had and there was there was like a thousand bias up here, just we still haven't retested it but This is directional conviction, right? See this That's directional conviction. So say this is the same day and say you got a bunch So here is that there was like a literally a thousand solid ice right up in here. You can go back and replay the day That's another great feature of bookmap. You can go back and replay the days With all the setups practice Figure out where the big areas were you probably want to replay this day to go see this ice area because we have not retested yet But say we're in the same day We come down here you get a setup you get a setup you get a setup And then we come back what I take that trade. Yes, because this First of all the size of the area like we were just talking about was huge It was a thousand bias threshold for natural gas was 150. So it was almost 10 times Listen to the threshold then that area led to this huge move So I absolutely would trade that first retest right so that's when you can trade prior zones. I get that question all the time All right, waiting for something to happen here Any questions Bruce? No, I think we're pretty much caught up Yeah, so regarding scott's spreadsheet there, um, you need to be part of his room to get that We get this question one of the perks on my room I get that I get that all the time. Yeah, that's a perk in my room I mean you could probably fire them on the internet somewhere But that's a perk of my room and traders in my room. I've worked on it and you know updated it and made it better too. So that's like Again part of the room All right, so this is struggling I still think I'm gonna get filled here what I do like about this short is now this edge is not Um, not anywhere near oversold anymore. You see how this is pulling back. So it's looking more ranging So 40 of the s&p stocks and actually we'll take a look at the nasdaq because that's what I have that order set up in Uh, but you can see I can go to the nasdaq here. So there's nasdaq dowel and s&p So this isn't as pulled back as much but it's still not overbought and you can see all it is is showing you the 100 nasdaq stocks that comprise the nasdaq and it's showing you What percentage are above their tap five minute task boxes or In the middle or above and you say what are task five minute boxes? Well Calculation, I don't know exactly what it is, but they're just many market profiles. So just imagine So you see this and they draw all the time, especially on a five minute time frame, right? So here's the es here's this task five minute box. This is resistance. This is support This is the point of control just imagine little mini market profiles. It's just basing it on the range So it's basically just drawing boxes based on ranges. That's what it's doing, right? So when you see extremes So say it's like the the green is way above that 66 percent line Well, then that means out of all the stocks that comprise the s&p 500 Over 66 percent are way above their current five minute task boxes and then many almost always Especially the more extreme it gets you get a reversion back until it or it'll draw new boxes But that's what this is. This is what this is gate. That's what the edge is gauging are these five minute task boxes Just imagine these boxes for 500 stops and that's what is gauging very useful where you're not chasing markets You know, I don't trade off that exclusively even though you've seen some Some last couple days of my trading when we've seen some incredible trades like yesterday at the close or before the close I actually didn't take it because Because I don't like to make free money But it was like right here We were up here there was a stop run. It was a little lower We popped up here into the red lug and the edge was at 95 percent overbought and that was just literally free money So that's that's you can use it in a vacuum, but not I don't use it in a vacuum very often I want to see my volume setups and then you know a lug in in conjunction But I I keep an eye on it so I'm not shorting like into the hole right if that things we oversold I'm not going to shorten my point is It's not oversold right now. So I'm not afraid to get filled on this order right now is what I'm saying if we do swipe down here All right, so a whole lot of nothing going on once again Like I said, maybe I should just go out of town again tonight So you guys can get another 10 percent moved down because that's exactly what happened last week Very and I've been waiting for this thing to get killed for ever and then I leave and then it finally starts to get I mean, I think it's just beginning but Speaking of which let's look at some of these Areas since nothing's doing that Getting this here So nasdaq this is a daily and I think this is right where we're at it probably today See here nothing on the hourly because we it's been years since we've been down this low This is the daily here Adjust the server it never saves the settings for some reason Let's look at five years so you can see I drew this one earlier It still looks different from my Hold on and this is an important area, but I could have sworn if you must have been in the he has that I drew it but This is Balance area and remember these are daily. So this is like months of balance, right two-sided trade We broke out of here. Here's your retest of what I've I know that move left That led to the provincial straight-up move that we've never returned till until probably today Right, so you want to keep an eye You want to know these areas and you want to come in here and draw them on a daily time frame And then obviously hourly on for the shorter turn stuff But this is you had two buying tails and then this move led to this entire up So this you're very very likely One to get down here today with the add this low to to get a bounce So, you know, if you're rolling and you're short this thing gets down here Be very careful trying to short until it can prove it can get through this zone Like in this area is where you want to short when it gets down here. We're probably going to get some kind of bounce So, you know, if I am getting short, I'm going to be looking at this as one of my main targets, right? It looks like we're about to get shorter pretty close just make sure this ATR is only 35 so You go You see the tick opened up. I don't remember seeing 18. It's minus 1800 today I don't remember seeing minus 1800 ever Like if you get minus a thousand that's extreme. We've opened up a minus 1800 So I'm we're headed back down here again In this no NYC tick. He's at minus 2600 Vix isn't doing much. That's the one thing that is interesting You know, you would think you would see this vix just ripping off the page Right Think it'd be up here. It's not so that's that's interesting. But let's see what happens here All right, you could fill me anytime now But this is why I have this outside in an ATR, right? Because you get these elbows that it gets an ATR away from the volume event and then they'll snap it back Right So I put it just outside of an ATR now It's not worth there You know, I was trying to save a few points here and there when I was 70% 80% 90% of an ATR So it's just not worth it. So I went outside and you can see I avoided a potential losing fill there So I'm confident if this gets filled and this Not that I'm going to get out of this liquidity, but I'm pretty confident we're gonna Start and continue to sell off Nothing doing just hanging out in these zones Waiting for the collapse Or else of course more go retest that zone for me and make me feel better so I can put on the trade Again, I should have been actually I should have just shorted this one. It came back to the original area But I didn't remember I said I had to been insured actually didn't get up there So I said I was not gonna short right around here I never got back there. So I'll just wait for a retest because Bounce here first. So All right, other markets you want to pay attention to This is nothing's going on This is crude. I was actually looking for this. I don't really hope I didn't miss a trade here I was looking for a move into this zone I got this sure yesterday We talked about this at length in the room pretty market when we go over our markets We were talking about this balance area here And how this zone was really really important this zone Directional conviction Huge directional conviction and you can see it bounced around here And then when it finally gave it up it gave it up, right? So And then we were talking about this balance here All right, so if we got below here the next area down was here and that's exactly where we came All right, we'll fold on the NASDAQ. I'll be right back to that Hopefully I didn't short right into the bounce that I've been waiting for All right, so trade is on ATR is 35.71 So I'm going to go a little outside that I'm trading off of this zone here this blue zone All right, so I'm putting my stop out a little outside So I go like 38 points above the zone for my stop out is So 40 is 83 81 50 is where I will stop out of this tree The one thing I don't like is I'll be stepping out right in the middle of this zone But I'm not going to risk another 40 points to put it above this zone. So I'll just put it right So trades on if we get a swipe down to that zone, I was just showing you guys the android blue lug I think they're probably probably the same So you're coming up to baby lug here. So, you know, if you're short, I don't trade baby lugs by themselves These are just minor lugs. These are the major ones, right the red and the blue But you have these baby ones too. I don't usually trade. I won't get out of them unless they're confluent with something Like a market profile composite area point of control something like that Or say this baby lug was down here. I mean the blue lugs down here, but you want to be careful At extreme standard deviations from vwap because you get these algos that as soon as it gets there It'll rip it the other way if there's no big money coming through like if it's just the trade is dead And there's no real Money, you know firms funds pushing the market You'll get that so if I get a baby if I get this baby lug and it was at like two minus two and a half standard deviation I would probably get out of one But right now I'm not going to get out of this. It doesn't mean it couldn't bounce from here But I'm not I'm not going to get out of one here. Obviously as well. I just put on the trade right here So I wasn't I'm not getting in and trade risking 160 or 90 points to to make 10, right? So That was that's my decision. So All right, shockingly this liquidity got filled. That's the name of the game These this is the big money the big money always gets what they want eventually And we talk about this all the time You know these markets are 100% manipulated manipulated by the the people that can push the markets around that have the size to do it Right and you can you can complain about it a bitch about it and you say it's impossible or you can If you can't be enjoying them you say it all the time, right? And how how does that work? Well, because you can see what they're doing, right? The big money rarely I mean you can see the liquidity here, but when they're initiating positions They rarely will just start market buying and or throw in huge orders In the in the in the order book, right? Because they know these algos, but they someone dropped in a thousand here This the algos would just run it away for them because they would see the order That's what icebergs are. They're hidden orders. So the big money can't get filled, right? So you can see what they're doing join them Right, that's the whole premise behind everything that I'm doing and then you can also see what the retail trader's doing when they puke That's good information as well. Most stop runs are retail traders All right now we're short So the other the other market I was gonna short was or I was considering but it just wasn't worth the risk I would be filled on this es but again the blue lugs like at 62. I think we're going straight there, but it's not worth 13 point we're asking 26 points to make 13 based on the current ATR So I did not short this market the other market that I said I wish I missed should have been short here You bet your bottom dollar This big money will get their fills so It doesn't mean it's just going to stop here, but A lot of times the liquidity get filled if it struggles to get through there It'll rip the other way. So you can use this as one of your trade, you know one of the Variables in your trade plan you guys should all have trade plans You should be building calm playbooks And this could be one of them I I get I get out I wait to see what it does liquidity If it gets through there and it gets back above then I'm out of I'm out of one of my contracts, right? But you can't just randomly be doing stuff one day you got to do it or one day you do another day You know it's part of your trade plan every time you do the same thing That's how you make money you guys want to make money trading you have to trade like an algo because that's what you're competing against It's not this random field trade trust me. I used to be obviously a 100% field trader Watching the order book and flipping contracts all day long, right? It's just I tell my room all the time like my intuition my gut feeling now is usually exactly opposite That's why I have a system that I rely on where I'm not just trading by my gut because it doesn't work These algos will kill you And you stop stop sell and it's perfect 280 to contract. It's perfect because now I can trail my stop Because it's a new event, right? so I get out at major lugs and or Opposing setups this isn't an opposing setup yet, but it could be right. So I draw the zone This is what's another the sweeps indicator, which I highly recommend you get I think it's global plus you need But it's well worth it I think it helps you draw your zones like right away. You see I could see this is where this all started You can see by the way this ticks right there just hammering this market. I also want to keep an eye That just back over over saltier so but I'll come back to that in a second first and foremost what I can do now Is completely cut down on my risk. So the atr Is currently 33.79 So I'm going to go a little bit outside that So I'm going to I'm going to say 40 points is oh too. Let's go 38 points again. So I'm out at 11,200 All right, so that's like 38 points Because I want to go a little bit outside the atr. So instead of having my stop at You can see the difference here. Look at that. So I go from having my stop at That look basically 11,280. So I just save myself 80 points of risk Because of this new setup because if this doesn't if this turns into this was a stop run, right? If this turns into a dumb and dumber meaning just the retail trader puke No real selling behind it because stop runs are not real selling it's guys puking and that's the beauty of knowing right Of what the actual selling is if you're just looking at a bar chart This looks like a sell to you you have no idea that it was just just a puke, right? So this could easily fail and then this is a bullish setup and that's why I'd be out, right? This is why this information is the most important thing you can have in your trading if you're just staring at this You have absolutely no idea. What is behind this move? You're like, wow, there's still hammering this thing. Yeah, we're going to we're going to zero We're going down to this zone. Yeah, I'm in we could this could turn into a stop and hold There's your here's your setup. This could sit here. It doesn't mean every time the retail trader You see a stop run its instant rejection many times the big money comes in behind it and pushes it But that's the only way this is going to continue down if you get real selling behind this Otherwise it's going to do that my point is if you're just staring at this you have no idea What just happened here? You just see red bars. You're like, okay. Yeah, this is working out perfect If this fails and does that guys are like, what the hell what happened there? Well, what happened there is this is not real selling. This is a puke. This is stop run, right? So this is two of my setups are dumb and dumber Which means the dumb money puke the retail trader again, don't get offended on it retail trader to say it every time But that means there's no real selling and it does that or a stop and hold Because you don't think the big money sees this as well They see these stop runs and if they want to step on the gas This is just their this is just like their their initiation. They're like, okay, puke now We're going to step on it and then they push it now and that's not happening yet, right? So this could easily turn into a Dumb and Dumber Hoping it doesn't but the other thing that I was going to just point out is This is a little scary here mistake there, but I'm too many other account Um, if you look at this edge Look at the Nasdaq. This is what I watch, right? Look at that 84 over sold So this is very likely to be bouncing here very very shortly So I want to be very careful I mean my stops in but I want to try to make something on this so I may just get out of one Just because of that. I just want to see this so the S&P isn't as drastic, but it's still over our over sold, right? So What I'm going to do here If this even remotely pops up above this zone, I'm going to get out of one of these This is not my normal trading, but this isn't a normal situation, right? You don't when you see that edge at 84 You don't want to be Most times again the other day like yesterday I got to 95 percent But that doesn't happen very often So my point is this even more I don't need to watch this pop back 40 more points to get out of one of these I'll hold I'll hold one and make my inhabit officially stop me out based on my rules But because of the edge, I'm going to hold it I mean, I'm sorry. I'll get out of one Otherwise, I mean I might not have to even worry about it. This could keep going We'll keep an eye on this see how drastic this I usually just look at the S&P Because they're obviously pretty similar as far as what's going on, but We'll keep it on as 80% 81 so 81 81 stocks out of the 100 are below their five minute task boxes. Hopefully you guys are understanding that I'm telling you This is probably going to bounce here pretty soon. I'm not saying you're going to get a 200 point bounce, but it's It's looking especially after because it's been selling off all morning anyway I Otherwise Like if you see that edge oversold you can get out extreme standard deviation I'm definitely getting out if we do swipe down to here I'm 100 out and then if I get a bullish setup with so that edge is at 90% and we get down to this blue log This is called confluence. You'll have blue log. You'll have extreme vweb standard deviation minus two and a half standard deviation Remember, this is one standard deviation called daily value area one and a half that should that would be two standard deviations I'm sorry. I don't even have two and a half drawn that would be blue log extreme standard deviation edge oversold That's confluence. I'll turn around get out and flip and go along and watch the same bounce about other points So hopefully we can get down there But if this bounced right here would not surprise me why edge is oversold and this is an extreme standard deviation It's not ridiculously extreme But it is and you have these algos that turn around and push it And then how could you determine if this may bounce right here based on volume when you look at your relative volume? All right, so this is your relative volume This is it. This is on seara chart. So this is based on exact five minute time periods for the last 30 days So you can see so 100 is 100 percent meaning normal so For the last 30 days you can see there there's some decent volume coming. It's not crazy like these It's not, you know, 300 percent three times two times, but it's still decent We want to be very very careful. We talked about this every week, too If you start seeing like 60 percent 70 percent these algos return around and rip it right back All right, so you want to pay attention to that if you're deciding to get out at a An extreme standard deviation so you can set that up in your trade plan where you say I I won't get out extreme standard deviation unless I see Less than 100 percent volume then I'm out at extreme standard deviation Right and I understand this is sloping and a lot of times you get what we call in my room a hugger Or it will hug standard deviation, right? So it's not as clear cut as I'm making it sound some days But some days it's like this instead of sloping and will bounce and it won't hug But when you get, you know, you get a trending market and obviously this is a trending market Then it'll hug it But it still would not surprise me to see this pop right now because of how over so we are I'm hoping it doesn't I'm still in it But you see I can judge where I'm getting I can get out right here But I'm going to make this market at least get above the stoprun zone to get out of one If not, maybe we'll get down to that blue lug straight. That would be delightful All right, any break from talking any any questions, Bruce? No, I think we're pretty caught up Just jeff is asking if you can briefly show your mbo settings for the for the sub chart Um for which market? I this one's fine. Uh, you know, he's looking he wants to know like, uh, I guess like you're using um A sliding window there Yeah, I was looking at sliding. I I I just went back to reset Because when you reset you can just put them together right sliding. Let's let's see if I can give me an example here This is not surprising me trying to bounce here. Just deciding if I want to get out of one right here And move that stop just because I just know I just know these markets, especially Yeah, this extreme No, let's see Let's check out a yes edge bs edge. It's like near 80 that I'm gonna get out of one here One second, then I'll show my settings Again, you guys, you know, this is This thing wasn't available for the public then it was they're working on it. I mean, I have access in my room So you see this is at 75% So you get you get access to it in my room All right, let's see we can get down here. If not, I'm probably gonna pop out of one right now Like if I see blue bubbles, I'm out Again, this is helpful. I don't trade off. I also get this too like with new book map newbies I'm gonna get out right there. I don't need to watch us come back 30 points to get out of one Um, so but I'm gonna leave my original stop where it should be, right? Again, this is a variation of what I do just because the edge is so oversold I don't need to see this come back 70 points and stop me out to know that we're pretty due for a bounce here Offer ice ice for itself ht 151 contract the other thing too if you're new to book map be very careful trading just off the bubbles Right. All this is showing you is the market orders. That doesn't mean it's certain areas. It's meaningful, right? You want to know? Hey, are there no sellers and there's nothing but buying Um, but otherwise It's you know, that's just like watching the orders transpire and trying to place an order I put a position on like this is not this is You know, it's not enough to trade off by itself in certain areas Yeah, like if we come down to a important area and you just see blue blue blue blue You probably want to get out of that short, right? So we actually time that pretty good so far Um, I can find something to complain about really quick. Let's go over to rustle Hey, look at that. I filled that liquid. You guys ever see that before you ever see this, uh this routine It's all day every day and all these markets guys You just it really helps you when you open up your charts in the morning You're doing your research and you're looking at at the at the markets And you're coming up with your thesis then go in and say, okay What what is where is the liquidity, right? A lot of days, it's not going to be clear cut Some days you'll see it like, you know, you'll see it up here And you'll see it down here. Well, that tells me it's probably going to be more of a range type day If you open up open up your thing and you just see huge bands of liquidity Well, in in your ideas short to begin with that just gives you confidence that we're getting down there and you can use them as targets as well Like retarget so I'm gonna this would have been a huge straight by the way I don't know if I mentioned that really glad I got up to Run downstairs there. Let me show my settings here Crazy So I have it at reset you could go let's so let's just look at an area Let me give you an example here. Let's just look at the stock ones I mean, it's probably gonna look the same But it's the last stop run that I drew this zone on let's look at unsliding Yeah, this doesn't look as you know It shows you the whole area But I like reset just because it's easier to define the area a lot of times in sliding You'll see like say the stock it's more icebergs But say you see the icebergs coming in and it's like sell ice And it goes on for a couple minutes. Well in the market like does this Well and say the first part of it is 100. So if I put it on a reset, you'll see like So I'm probably confusing here, but say I'm in on the yes, right? So my threshold is 500, right? Or I'm sorry 700 for icebergs. So I meaning I don't trade anything less than 700 for the for the sub chart I need to see at least 700 on here. So say if you have an unsliding it'll look like this Over like three minutes And your zone will be like huge And you know start off here and it got to eventually got to 700 But if I have an on reset, you'll see like it'll look like this will look like 100 and then it'll be like 300 and then you'll see 700 right and it'll really help you because you want it you want a highly concentrated area, right? So I want yeah, so sliding mode looks like that reset looks like this Well, I can go to the most concentrated area and draw my zone on that versus and that could be only like Eight points wide versus 20 points wide that incorporated these first two smaller ones. Does that make sense? Even though it could be the same house and I tell my room this all the time too just because Here this is um, this is weak Right, so say you could see this is one house, right So just because so say eventually this is a thousand iceberg in here, right? Over the next 30 minutes. Well, if it touches it and it triggers 100 touches it triggers 100 100 And then over 30 minutes and then the next so to say and it does this and it comes back again And it touches 100. Well A hundred lot at this point is not going to stop the market, right? It's going to go right through here They're done getting their fills. What you want to see is a concentrated area of volume, right? So you just got to be careful Like that's what I was trying to get at the reset, right? Like if I see and on the sliding mode it makes it look like it's one big area But on the reset you're gonna see this this I want to see the most concentrated area to draw that something the same with the On chart like you could see, you know 50 50 And then 300 well the three in 300 is the area that you want to draw And it's not always going to be a straight line because they could chase it up So say this chased up sell that side 100 you'd want to draw So say chased up you see the white line and then you see 300 pop in Clear this out, right? So say this goes up here the market hits it and then you see a buy iceberg up there And that's 300 but you can draw your zone just based on 300. You don't have to incorporate The first part of the iceberg, right because it wasn't big size. That's not concentrated area where Traders are technically caught. So hopefully that makes sense, but it just helps you control your zones too So that's a long explanation. I'm I tried sliding I used to use sliding Then I moved to reset and I've been trying it out of the room and it just You could go back and forth just to see but I like the I'm glad I got out there. I would have been stopped up here, by the way Of that one lot. I like to see the spikes and I hope she determined her zone is easier So hopefully that was not confusing Yeah, just just a note on the reset This is why we came up with the sliding and it seemed to work pretty well was that Someone would have a different value Then scott and The reason that this would happen is because Computer clock it, you know makes a big difference. Uh, and it might be off slightly When that happens first, I'll be right back. Okay. I got less on my front door When when that happens then, um, you'll get a different value And because it's resetting precisely at a time So it's just something to be aware of because You know, we all want to look at the same data but At these kind of sub second levels like Things can look a little different All right, we run into this all the time This kind of activity It's just, you know, you're very very different than looking at other other platforms that are You know looking at several minutes of data Yeah, jeff. I I just use the um Um Acumulative volume delta the sum Modes I'm very I look at it very differently than scott I look at the um I just want to look at the axes are not aligned. I know that But I don't care because I just want to see the graphical representation and the lines It's like, okay. Well, I know that was significant icebergs compared to other icebergs Uh, and then that allows me to then see the graphical representation and compare that with stops as well on the same um Using the same setting, but it'll be a different um axis All right, I'm backwards Okay, the market didn't crash yet Now and this is exactly why I got out of one of these, right? I was expecting this based on This edge product that we use in my room It just helps you It's still oversold But not crazy. So that's es See what that looks like Yeah, it's still oversold 77 percent. I'm just going to keep it on es because that's what we use in my room Um, it's just it's a pretty good gauge. I don't need to back and forth here, but you know This thing this thing is very very likely to go Stop me out. All right. Let's see what's going on in the other markets. Goal's trying to suck me in You can kind of go over the Structure and stuff the bigger picture of some of the other markets. I was looking at a crew I think I missed a monster trade. I was waiting for that We were going over that before we started selling off and that could be as we can go back over there in a second But this was obviously 200 less stop run So and this is another great thing about this on chart is you can see exactly where it came in Right started on that bubble on it on that bubble incorporate all the bubbles There's your zone That's step one step two See what your atr is 26 under the decimal place 26.1 So we just have an idea of how volatile the market is um bigger picture stuff We know this market is an embarrassed state because of Take this multi weak balance area We broke down from it and now we're building balance Below balance right and then we also try to break out of this balance twice Yesterday late afternoon couldn't do it. But actually I'm sorry. This was yesterday morning Wait, no, I was I'm thinking about this This would this was the first try And then this was the fed try it again try it again selling tail selling tail Did break down So this did break break out did retest the high volume node. So this is short term It's looking like it's still bullish, right? But This is this Trump's this little dude Right. So yeah short term could this bust out? Yeah, but I I want to see this thing get through this high volume node Which is just where the most trade occurred in a balance area It's got to get through this area for me to actually be at least Thinking there's going to be a bigger move to the upside, right? So you got you just got to always judge this stuff the best trades are when everything aligns, right? So this is kind of this is obviously not a lying short term If I'm looking at this in the vacuum try to break out came back held high volume node still bullish That looks bullish. This is bearish These are the trades that you tend to get this kind of trade So if you just watch your markets and try to find like like the equities, right? It's completely bearish And then if you get the shorter term stuff like in the hourly and you get balance areas that are bearish Those are the best trades. So this is kind of Contradicting itself and that's just that's the definition of gold the gold market is complete witch sock contradicting You know back and forth trade I could see this busting out here into this high volume mode. So we know where that we know we're at Short-term bullish longer term bearish where day traders, you know, I'm not holding trades for days and weeks So I will trade. I'm not afraid to trade this to the upside what I'm saying right now And then the determining factor is the volume set up, right? So here's your stop run retail trader puke What's going to happen here is it just and we just talked about this on the other way Nasdaq that wasn't real selling and you see it didn't really follow through Is this this is not real buying this is yeah, it's buying, but it's just puke Does that mean it can't go up? No But paper the big money real buyers have to come in behind this to continue this other than that This is just this isn't real buying and it'll probably reject Right, so we wait to see which way breaks out of here in atr to determine If this is a dumb and dumber or a stop and hold one of the two of my six setups Right, and then we take a look at the lugs to figure out if I want to be aggressively long Or aggressively short or wait for atr retest to get in This is very this is interesting here, right? I my I'm a I will not short aggressively above the yellow lug unless we're at The red lug I won't sell aggressively All right, I won't buy aggressively below the yellow lug unless we're at the blue lug Right because this is how powerful these lugs are it doesn't mean we can't bust through or make nuance But I just know how powerful they are and you see them here Get it there held here We did build new looks here, but the point is I will take this short aggressively If we were here and we got that stop run I would to go short because we're above the yellow lug I would wait for a full atr 25 ticks retest failure, but I will go short the setup now Because it's at the red luck and I know we are long we're short term bullish, but we are longer term bearish So I'm okay with shorting this right here, too So what does that mean? It means I will get in aggressively ATR is 25.6. So I'll go a little outside that I'm going to go like 28 ticks So we'll say this is at 50 30 is 59 so 31 28 ticks below the bottom on this zone. So 31 I will go short now if I get filled on that I will then put my stop 31 ticks above here. I'm sorry not 31 28 ticks above this zone And I'm just looking here like So this is where you want to be careful liquidity. I don't pay attention I mean this isn't this has been in here for a little bit This is liquidity. I look at be careful playing off of liquidity. That just pops in and out of the book That's just I'll go screwing with everybody, right The liquidity you want to watch to determine. Hey, we're maybe going is this so this just looks pretty range bound, right? I'm not really paying attention to this even though. I think we could get up there and fill that Again, that's not a Like I won't take it short just because I see liquidity up here, right even if it was longer term But just know the likelihood of this filling is very good because the big money gets their way and they'll push it into this But I technically could still be in this trade. So say I get filled if I'm going 28 takes above here That puts me at 08 technically this market could come back, which it most likely will fill all this liquidity I never get filled and then it can turn around sell off, right? So My point is I don't I don't Miss the trade because of the liquidity All right, so we're getting the bonds that I expected and probably already stopped out of this Man is back home All right, looks like we're trading grains Market must have known I was talking about it This is the point I was just showing what that given the iceberg on chart example So you got a stop running week Step one, draw your zone pretty all the prices Pretty usually all the way from my stop runs. So I know what it is That's pretty tight zone too. It's two for two cents. All right That's step one step two See what your ATR is you can see right in the middle there 3.56 So I round up so we'll say three and three quarter points So that our lugs see where we're at Look at the bigger picture Another market at the red lug now look at this one. This is confluent So it's a little bit above but until it draws new lugs. I consider that at the red lug and that's confluent At the top of this market profile composite a lot of confluence And I mean, this has been a pretty constricted day But we are at extreme standard deviation of e-wap too. So you got three things in the favor of this possibly failing All right Then we go to the bigger picture just to see You know, am I standing in front of a huge balance area breakout things like that? That's the stuff you need to know before even before you start trading and I don't obviously for this market Because I didn't look at it today All right, but you need to know where we're at on the bigger picture because this doesn't change every two minutes You can look at it quickly in the morning the markets you trade. So what does this look like put Bruce on the spot? This is balance this is two sided trade Traders placing bets This was a breakdown did the breakdown work out? Well, if this is truly bearish Many times in markets break down. They will retest the bottom of the balance and then go High volume node is less stand This has now gotten through the high volume node. This is a failed breakdown One of my favorite trades Structure wise, right? This should do that Right. So now I have a guy of conflicting information, right? I just showed you we're at the red lug We're at the market profile composite cell and q 174 contracts come back to this because I just because I have that position I'm stopped. All right, so made a little bit. I traded that correctly, right? Like I did nothing wrong here I got a one because that edge was oversold and that was exactly right on that right and now This has turned into as long as we didn't get an ATR below here Which we didn't we only got about 25 points below here. This isn't officially a dumb and dumber setup So once again This selling was not real selling. It was guys puking The big money if they wanted to drill this thing, they would have stepped in right here and they would have done that instead We did that So this is an official dumb and dumber. So now if this goes retest failure, I could go along this this I wasn't going long aggressively off of this setup Meaning I should have meaning I could have got it stopped out and then flipped long Because we're still below the old lug Right and that's the way I trade to determine if I'm aggressive or not There's other instances where I will be aggressive, but So you see here the reason I didn't take that long and flip right away to stop runners here because we're below the old lug But now if this comes back to retest this area, that's the stop run and rejects again I will go long and I think we can get a pop back To at least that we talked about this earlier the bottom of this composite and or a red lug And then I looked at for that Of course everything's firing off now Any questions Bruce? All right So what would be ideal here now because we just so quickly bigger picture tells me wheat looks very very bullish, right? And I said I was conflicted because we're at red lug. We're at the market profile composite. Hi That would look bearish. This thing should just rip off the page now. That is this is a major multi-day Failed breakdown Through the high vine node. We're up here now, right? so What would be ideal? Is and we have our volume set up. I want to see hopefully we build new lugs. So I'm not worried about shorter Buying into the red lug that has not happened yet, but we're also outside this now. So we cleared it So what I would love to see is new lugs built Let's turn around retest that stop run area Which would be confirmed with the top of this and the new lug and the prior red and then I would play for I'll move to the red lug, which I think will happen as soon as we get new lugs I don't know why this hasn't drawn me lugs yet, but She has her She has her parameters and there's a reason that's not drawn yet. So I'll just wait But as soon as that draws new lugs, I am going to be 100 watching and Hoping we retest this zone. You could just go along immediately outside the zone that I just have learned Hardway, it's better off, especially if it's not confirmed with a bunch of stuff you wait for I didn't mean to do that I'll retest 500 tons rats Major pukes and gold so This obviously this short idea is disqualified one because it got an atr above this zone two There's new stuff firing up, right So I didn't jump I wanted this market to prove that this was a dumb and dumber meaning. There's no real buying You're still not really real buying these are just stop runs, but that idea is disqualified plus I have a new setup and you can see it right on the sweeps here perfect Awesome to draw your zones Change colors So like we're talking about this market It does look short-term bullish long-term bearish rty isisford by rt 150 contract meaning I will I I'm fine trading either way right now I mean, I think the bigger This is what's happening. I think the bigger move is going to be down but currently Broke out tried to have a fail breakout held where it should have held Directional conviction now. I think we're coming up to the side line But just quite a ways away could even get up to this 1860 This 1860 you really want to watch so if this gets rolling why do you want to watch that? Well You had directional conviction Directional conviction selling tail directional conviction failure It did trade through here But then you can see it built balance and this is major directional conviction So if we do if I end up getting long on this stop and hold setup I will 100% be looking to get out here because that's what led to this old dom These are I have draw my zones you want to pay attention to those areas. They're very very important So there you go. There's your new lugs, right? There's your new lugs Here we go with the retest of the zone. I'm good to go to go along this market as long as we got within two ticks of this Which we did So retest this means within two ticks most markets. I say two points in nasdaq and There we go. So now I can go along this market with This is like an a plus setup as well. So So again, I don't just jump you could jump in right here Right You may be saying well, why do you have to wait for that get in right here? Well, just because of my experience of watching thousands of these as many times I want to see this area hold and reject. I this could go like this and right through here Right, so I'm willing to risk the extra couple points to prove this area is solid, right So once again we ATR 3.90. So I'm going to go four points now above here just outside an ATR 77 50 It's my entry I get filled my stop's going to go four points below this. So I'll fill it 67 50 for my stop Oh, any questions for this? I got a couple other comments here to treat this um No, not really um Yeah, just Scott's using the market internals like he was showing earlier for overbought oversold, but uh um, you're basically I mean your whole Trading plan is revolving around insight from extreme Uh readings on stops and icebergs and then to look at the setup Sound like you're just getting smoked on a trade. It's not depressed. Oh, oh, yeah. I'm sorry. I'm sorry. I'm pretty beat up I'm pretty pretty tired Um, we're we have some new releases and it's just been a lot of work lately So uh, some interesting stuff though. You lost your spot Yeah, yeah, yeah, so uh, well, I'll be I'll be back Hold on one second right back Sorry guys my air conditioning guys here. It's not good when your air conditioning goes out in 115 degree weather. So All right, so along this there's my stop 67 quarter, which is the atr outside of an atr below there There is a little equity up here. I will watch this so say for instance that this could be part of your trade plan, right? If we get up this liquidity, which I think we will and say It fills it and then can't hold above it. You can get out of one as it comes back You don't have to let it come all the way back and or wait for another setup, right? Depending, you know, I'm saying if nothing else is up here as far as long as anything else other than that I fully think we can get to this based on that what we just looked at based on this breaking out of this I think we can get to this And that's 30 cents away and that would be a nice trade. Remember, it's just like s and p points That's like a 30 s and p point trade All right, so along that uh stopped out of in q when we made a little bit on that and then I thought I heard something on My buddy Russell I missed earlier this was a costly miss for me Surprisingly, really nothing in es today Oh, by the way, look gory. So I wasn't willing to take this trade. Look where this market stopped. Let's take a look Let's take a little peak here The magical magical lugs So again, you guys can find those go to our website Ludwig levels.com say you saw it on the book map webinar and she has special pricing for you guys or my room has special pricing Even better pricing. I think I don't know what she's doing lately, but that's where you find them They're saying they're unbelievable, especially if you get the volume setups here. They're they're ridiculous So and this is why I use these as targets and so on and so forth But I wasn't willing. I had a feeling we could get down here I just wasn't willing to risk 26 points to make 13, but there's your 13 points Right and that was right out of that This was a stop and hold setup that you could have traded We talked about this at length earlier That was the stuff stop run stop run the white stop run You could have been in an atr below there and caught the 13 point move I just wasn't willing to put on that trade and risk an atr above here I think the worst traders on the planet are in gold all you see in this market are stop runs like you Very rarely see ice is just stop run stop run stop run stop run They're all stop and holds So what you could have done here, right? If you could have been adding We're at the In a vacuum you could have been adding on each one of these setups, right? Remember I was waiting for I'm pretty sure we have new loves now, but I wasn't willing to go along on that first one See we have new loves One new luxury. Wow we had prior red too, but um You know saying a vacuum you just we're not like at the red lug. That's why I didn't want to go along on that first setup You could be adding and trailing on these setups, right? So traders always have they have problems like where do I add where do I how do I trail my stop? Most traders trailer stop on an arbitrary Stupid I just want to lose back five ticks or five points like we talked about earlier I'm not gonna get into that again, but this allows you to trail your stop based on market structure not on what you want to lose, right? So could have been long to say there's no red lug there. I get long an atr 25 ticks above here I'm long there this stop run falls up fires up I had another position 25 ticks above here Then I take the stop that was down here where I was going to enter the short But never happened then I move it 25 ticks below this zone then this fires up now You can you have two positions. So you got long now off of this one now So I'm long one position Long two positions Trail the stop up and then you have the third setup I could add a third position if it gets above here, but now I can try to trail the stops So my stop for this one was 25 ticks. I move that up based on this new one This one fired off So then I move my stop for the first one and the second one 25 ticks below this zone Now this one fired off and now you can move your stop 25 ticks below this. So this is how you catch a Huge trade trending market not risking anything basically, right? You're just giving back if you if I don't loosen to say this moves up here and I get long on this third setup And say I got filled and then it comes back and it stops me out Well, I lost on this setup, but I made money on this one and on this one This one probably been scratched, but I made a nice profit on that one But if it keeps going and you catch it one of a monster move You have a month or a year making day and you you're just trailing your stop based on setup So hopefully that was clear All right, I've been talking for about four hours here any questions Uh, no, I've been answering them uh in youtube. I think we're all good So, uh, yeah, no, um We're we're okay over here So you can see your two on this edge See I'll pull back All right, we were oversold This is why I got out of one of those nasa and then the market that's pulled back It reverted market ripped now if I got a short signal I wouldn't be afraid to short it again because we this is not oversold anymore And we're definitely not overbought we're actually most of the stocks in the five smb 500 Majority 40 percent of them are in between their task boxes. That's all it's telling you the mini market profiles So this is part of my room right you see that you can see the tick strike again I haven't set up one here. So you're seeing every single tick You don't hear anything these are all on mute because I lose my mind This stick strike again, it just comes to all the stuff on my website guys just go on there guys and girls Um, this one I have everything set at 11 because I just want to see serious mind serious selling I don't need to see every single see how it tessels that one the video is at eight Vicks is that too? I don't need to be seeing that on on this one But on the my my trade room This is on the one of the voice challenge. You can go and look at this at any time As long as along with the headlines and everything else. All right I'm really surprised this one made me love it So quickly back to crude I was talking about this is upsetting. I think I missed this trade And I was waiting for this pre-market or before I got on here. You can see Guys knowing your structure and then knowing your volume how to trade the volume areas just leads to just this is an awesome Zone this zone led to directional conviction Directional conviction. It was also the top of this balance area Comes right down to the exact zone and launches I was just I was watching we were up here right at the crude open I might keep an eye on this because I need to signal down here and now I'm gonna about to I'll probably throw up when I bring this over here because if there's something down here I'm going to be very very very sad Be my second mistrade of the day. Hey, look look what also over here. Look look at filled Unless liquidity this one didn't get filled but they pulled it So please don't be a setup. Please don't be a setup And there's a setup So this is why I like the reset mode Right, you can add these two together. They're basically back to back here all in the same area So this was this was not threshold on its own. That was 100. This was not either 126 But these combined are 200 So this is what I would have done if I was this is right when I was going on the webinar When I ran downstairs and ran back up and this the rty trade and this trade This this one hurts bad places here Because this is what you should be doing. You find really important areas and you just wait like a stalker, you don't miss them like I do My gosh, this this hurts hill Let me see the only saving grace is if this was below the yellow lug I would not have gotten it aggressively And it was so that makes me happy as long as it didn't retest fail See what this was That was definitely because I mean it's the same pattern over and over always look at this This I feel like someone's kicking me in the stomach right now. Here's you know the zone. We just looked at it Here's your buying setup. Here's your atr over an atr. It's this is over 50 50 ticks Like it was never at 50 ticks until basically now retest Failed I've been in right here So the same 11 11 40 And that's oh, yeah, there you go. There's 200 tick trade 240 tick trade I don't know if you guys are good with that. I wonder I wonder where this market's going any any guesses where we're going Any any guesses anyone anyone I'm going to say The manipulating houses that run the markets. I'm going to say this volume that they got filled on all their bids These are their offers. That's what I'm going to guess and it doesn't matter It doesn't matter what it is like you can come up with scenarios All you want you're never going to know, you know, I and my hat I say, yeah They got filled in their areas of offers. You don't know if this is them But the point is you don't need to know you need to know they got their fills You know, there was a volume of that you need to know there's liquidity up here That's been in here all day and we're very very likely to get up here That's what you need to know. Don't confuse yourself Try and understand what every every single volume. Are they getting out? Are they hedging their options? Are they I don't know it doesn't matter. This is the this is the area. Here's your retest Here's your failure. You make 240 ticks in counting like It's that simple. Like I know you guys are like it can't be that simple Didn't you notice I didn't say easy trading is not easy But you can make it simple and as simple as you make it the better you're going to do Save all day every day Because that's the way it is When I made the millions of dollars I made it as simple as possible I was just looking at orders coming in the order bucket doesn't get much worse I didn't have a chart up my first three years. I did not even have a chart up I was just trading off a volume So that just shows you guys get all the crap off of your charts use them, you know a couple main things and Stop crushing your brain make it simple This thing's going right up here, too Which is fine. At least I got this one that that that crude that crude one hurts really bad because I Swear I was looking at that right before I got out Oh, well Such as trading, you know it sucks, but there's a trade right around the corner, right? There's a thousand more trades Waiting for me I'm gonna try not to watch that Good things happen when I don't watch a little superstitious as you guys can tell All right, so this one i'm not going to draw because I don't draw Yes, it's spiking spiking But see how this might threshold for rty for rustle is 150. I won't draw a zone if it's Just gets to after two different I mean if they're right one after another then yeah, but so say this say this was 80 and two minutes later than 60 came in or 70 came in. Yeah, that's threshold, but that's not I don't want to piece together two disjointed spikes To make my zone, right? But I will do it like you saw and we it was one was almost threshold by itself And then another one came in and put a way over threshold was like 200 something that'll do it But if you just get the threshold, I don't usually do it unless it is in a really important area I'll do it because I already know the area should Is obviously important But other than that, so I'm not going to draw that to what I'm saying It could bounce but all these markets guys I would not be expecting huge moves up today If they do then you do get a changer tune, but these markets aren't serious serious trouble There's a very very high likelihood. We hit this zone today in es All right, and then that's when you want to use your spot gamma stuff But there's the spot gamma areas and then If you guys got his website go to his website. He talks about it. I've heard a commentary, but The areas that he said to watch 3620 is the next major level. Well, let's see. I will bet that's right in the know that's Right before it a little bit before But I could see it getting down to this helmet today or tomorrow Tomorrow's options and expiration is going to be really weird trade probably so Let's see if we get down there today All right, I think that's About it because your guys getting on here now another dude, right Tom guy Yeah, yeah, he'll he'll segue right into adapter after this So I didn't do anything here in gold obviously and I was just waiting for new lugs and they didn't draw so And I'm fine missing this trade kind of This doesn't hurt as bad as the rustling. I don't know why we're not drawing loads. I'm here. I don't know what the issue is, but You know in a vacuum you can easily traded this setup Traded this setup added traded this up about to add and you'd have three positions on and catch a major major move And you're only basically risking back down to an ATR below Letting catch that one obviously miss crude obviously missed rustle Did catch the NASDAQ didn't do anything and but you can see hey look where the market tested and failed Oh, that would be the volume area You guys learn this stuff. I'm telling you it's the most powerful thing you can have in your trading Ever You can trade off the like I tell you guys a story all the time. I did for the month of december. I traded Let's look at it real quick as like seeing this stuff month of december So this is my current PML but month of december I traded this market This still is a profitable mark. This was early january. So you can see That I traded nothing but in a vacuum nothing but volume setups just in a vacuum. I waited for ATR retest I didn't have any aggressive entries wasn't you didn't use any logs didn't use any market structure I just traded. I wanted to show my room. You can trade The setups and just buy themselves and still be profitable Right and then obviously and guys and this is good to see right this is trading This is what happens when you trade. It's not that it's That right. Yeah, you could get lucky and get one of those but you know over long terms You're gonna have drawdowns right and it does feel like the end of the world I've been doing this for 20 plus years and it sucks like this was a huge drawdown here Right, but you just keep taking your setups. That's what trading is. It's it's a percentage game It's not you make money every day like a normal job So you have to know control your risk and know you're gonna have drawdowns and know if you have a A solid system Like in it retrading in the zone is main is main point in that book is Main point in there is you have to treat it like just like a casino right if you're a casino And a high roller comes in and crushes you One day do you start changing the rules? Do you change the rules of blackjack and or stop offering the game? No, you know, it's math. You know, you have the edge Statistically, you just let the hands play out. This is what this is I know this I have the strongest strongest edge you can possibly have in trading futures is with the si indicator I know this will just keep doing this. Does it mean I won't have drawdowns? Absolutely not Here's one look at this. I actually want negative here in in february right, so I know I have the edge right and I also know that I don't have to be some ridiculous odds trader To make money look at my winning percentage granted. I could get better at this. This is making mistakes missing trades blah blah blah But that's 46 percent And I'm and 46 percent And look at the P&L like and I'm not trading big as I know you guys look at all It's only 60,000. Yeah, because I'm trading two lots, right? So it's like if I'm trading 20, it's 600,000 If I'm trading 200, it's 6 million, right? So In everything is scalable too. So as you make money you can build your size, right? But the point is you can be a sub sub 50 percent trader and be profitable So all this stuff should be very motivational for you guys if you're not making money right now, right? Especially if you have drawdowns, you're going to have drawdowns, but if you are You have to feel secure in your system and you have to have an edge, but I'm showing you the edge I'm not saying trade exactly like me. I'm giving you the components to build your own edge And the main component you have to have is the si indicator. Could you trade without it? Yes Could you make money without without it? Yes Do you have the all the information if you're not using it? Absolutely not. So that's what you need to realize So I'd like showing that I was gonna. Oh, I was showing you Oh, yeah, I'm with the December how I traded just the setups. That's what I was getting out there All right guys. That was my little rant. I always got to put one in before I go Not a ton of trading today. So a little bit there. I'm still along this not really doing anything yet But I fully expect this it should do that and this is quickly You know that this is what should happen based on what I just showed you right? So say for instance Of course, I can't find the market or the chart on here so say for instance We just we talked about this that length, right? This is a failed breakdown We got to that if I this should do that if this turns around and does that Yeah, I'm gonna lose on my trade because what the down move is going to be about four times that what I would have made this Right. So that this is what trading is. So you play what should happen if something happens and that doesn't shouldn't happen And I get stopped out. Yeah, I'm going to take a loser on that. But guess what the short is going to be Just insane, right? So that's what trading is you play what should happen most of the times it works If it doesn't then you catch you get stopped out. You lose then you turn around and you trade it the other way So if I get stopped out on this, I will be shorting this with both hands the other way But in the meantime, this should really You know, it's struggling in some of these prior zones And they're important. I understand that right? This was selling tail led to directional conviction But this one little move does not trump this Major balance fail breakdown right to see what I'm saying But say oh say I got long down here and it moved into this I probably get out of one here But I got long basically right in it. So I'm not getting out here. I'll watch this zone This was directional conviction as well, but I'll probably get out of maybe one or two up there But other than that, I'm trying to hold this to the red lug That we talked about choice quickly and then I'm out of here She's in my room too by the way. So you guys have any problems you can contact her directly Um, I think we can get up to 1109 red lug Just hey look at that right in that zone So that's what I'll be watching All right Bruce any other questions if not, I'm out Uh, yeah, sorry. No, we're all caught. We're all caught up I think Okay Yeah, um, excellent. All right. Well, uh, thank you scott And uh, welcome back. Good to have you back and uh, we'll catch up with you Next next thursday Awesome. Thanks guys. I appreciate it. See you next week. Okay. All right. Take care Thanks