 Good morning traders and welcome to the book map live trading webinar. This is bruce at book map today We have Jay trader a stocks trader. He'll start in just a little bit My app live trading webinar. This is Bruce. He's he's always a little late He's finishing up his trading room. He does offer mentorship and trading services There's links here that I'll put into the chat for you. He does this webinar with us every Wednesday and he You know, he'll take live positions in here. This is great. This is all a part of our education. We have the educational course It's online learn about order flow via the educational course then we have These live webinars here And like yesterday and Monday that we go through and understand how to apply that education in the live market It's live forward-looking analysis will read the market and give insight to where we think price is going to move next Then we have live trading With Jay trader and Scott Balsini tomorrow a futures trader So you can also learn from other traders how they're actually taking positions. Okay, so we offer very complete education here We think general disclosure. Let's go through these. It's important to understand what you're getting involved with here This is only for educational purposes. Okay, it's it's Just listen to the disclosure here, please 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 by trading executed in simulation cannot accurately represent realistic trading performance risk disclosure Trading futures equities and digital currencies involve substantial risk of loss and it's 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, so let's jump in. Let's take a look here at the S&P And see what's going on All right, so Let's see here. We had some pretty good webinars last couple of days going through All sorts of interesting order flow phenomena and and that's what a book map is Really good at visualizing And you know, it's funny. We had an event yesterday in the afternoon I had an event with one of our partner educators over at Pirate Traders Charles and There was a question asked about order flow software and saying that it is kind of trying to Like like trick traders into You know going long or dumping a position or something along those lines and at first I you know My reaction was kind of negative like are you joking? And then I understood the the question better afterwards And the question was about like the orders in here What larger players are doing or very sophisticated Players like this right here showing very high liquidity right here, but they never took a position Right. So this is kind of like a potential spoof, right to get price to come up and maybe fill them up here at 52 Right, but what book map is showing in here? We're showing everything We're showing the limit order book both for the current market and the historical market so we captured that order book information here and Yeah, this is maybe a trick right, but all we're doing is visualizing it So I just want to get this point across is there's nothing where that we're trying to dupe in here or you know trying to You know say anything differently here That it's just more information now in this case we we're understanding the game and we're talking about game theory in here This is it it's right in front of us This is the game throw in a very very high liquidity come in with high volume on the bid and you can change Price levels get it to come up into these areas here, right? So that would be kind of like akin to spoofing Once you start to understand the game Now now you know the game and you don't have to be tricked by it, right? So we're just visualizing it There's nothing. It's just this is all very very factual data here, and that's it I it's important to cover this it was that question really kind of through you know through Through me for a little bit of a loop later, and I wanted to understand it more thoroughly So we're just visualizing the market data And what we're able since is visualized is kind of like their footprint has captured here This is what they're doing maybe to get more of their short on or maybe take some profits or something like that I don't know But what we can see though is for sure they came in with high liquidity here, and there was a reaction for price to go higher All right, that's what that's what we want to understand now we can put this into context in the bigger picture here and Charles was was saying and I agreed with him on this was that When Yeah, we may see this and that and you know larger players and and you know Gaming the market and you know all sorts of little things yesterday was a great example We saw all sorts of things going on in the market around 3800 very very important price level But what we were able to To do is put that into context And start to understand the game that was happening and unfolding So now we're aware of it and we're visualizing it We have the information in front of us to act upon it or go with it or whatever it is that you want to do the The important A point here is It's just objective data that we're that we're visualizing here And that's the the starting point for starting to uncover what's going on like right in here This is an algo right in here Hey, now did they want to get filled in here? Not really this so this would be an ignition algo here an example Okay, now they did get kind of filled in here a little bit Right, but what what this algo did here? Let me just show you a little bit better What this algo did is it came in here? It's showing a lot of supply or more supply here, and then it it chased after the market showing more supply Okay What what did the market do? well, it it it actually showing more supply kind of skewed the auction here the auction process and Price was already going down, but this this is like, you know a big push behind like wind like pushing you and and pushing behind To get it to go down into this area here and get filled down here into this liquidity. Hey now I'm speculating. I don't you know that's could be the game here, right? And if so pretty successful And and it's still working out here right, so Anyway, you know, it's not there's nothing nefarious here It's just being able to understand the game at a deeper level All right, and these kinds of charts here Can can do it in book map, you know, that's why like You know the charting platforms have changed quite a bit in recent years and what we're showing in here Is a lot more information? That's actionable Hey, so for example, we went through this example of showing a candlestick chart in here Okay, and let's suppose you're let's see is this is a five-minute candlestick chart. All right, great So 10 10 o'clock we see the move down into high liquidity down here the candlestick chart. What is it telling us? well trend trend in continuation basically at this point like large candle another large candle lower low here All right for this to be upended in the candlestick chart Basically what we'd be looking for Is a close on the buy side up here? Right above above the swing here Right, and we're getting we're starting to get that now, but it hasn't closed yet You know, we've got a ways to go for the close So maybe it's gonna get we're gonna get a little bit of back and forth in here Before we see something like that And if we do well then it's it's looking for retracement values And then where is the candlestick? Well the candlestick is not really showing us much This is where it dropped from over here, but here's where the candle You know it opened and started here, right? So you'd be looking at maybe a retracement back up into these levels or maybe it turns into a reversal, right? Now see the visualization here the candlestick chart is not showing you much though Right we're showing you every little swing all of all the volume within these swings all the liquidity did it trade Etc. It did in these areas here and then over here Okay, it did in here here and here and we saw that I'll go activity trying to push it more into this 45 level here Okay, now look at you look at your candlestick chart. All right. Well, it's selling off up here, right? so there's there's You know if you're looking if you're still bearish well then then this is a and you're looking for a range bound trade and your candlestick trader You would likely you wouldn't be looking at the volume in here, but you would likely be selling this up here at the top of the range Okay, but what about you know, what about getting run over? What if you're wrong? Okay, well, let's look at more data in here more information that will give a higher probability to that range bound trade Okay, well now we're starting to see sellers come down. All right up here though. Boy, I wouldn't I wouldn't be selling it I would be looking for a little more confirmation in here And then sellers like around here and let's see if we get enough sellers right now and Then then I would look for the move down to 48 and 45 Okay, because up here, I just don't know I see some selling in here. It's about it Okay, I just don't know if if buyers are going to spike all of a sudden really high here Okay, so here you go. Here's your range bound activity, right? And you know, you're making a higher probability trade you're giving up some but you're making a higher probability decision here by starting to understand the order flow And then possible move down into these levels here. Okay. This is a very simple example right of understanding order flow and Bookmap here what it's showing you compared to traditional charting All right, so there's your beautiful range bound trade And take some partial profit at the bottom of the range. There you go 45 just traded All right, and you can hold it for a bigger move Okay, so that was You know like a seven no from here 50 down to 45. That's a five point move in the S&P right there Okay, based on the order flow with the candles All right, so in the candle and the candlestick pattern in here the trade decision would be not within this area here I mean boy if you want to take a guess at it and you know, that's it's up to you your trading style It's not a bad idea Just make sure that you've got some some data behind it or some numbers behind it that this is how you trade and That this is what you're looking for And then in here, maybe even add to it You know what I mean so you could up here you could take maybe partial position And then here is this where you go in and now you're looking for you know down in here taking partial profit and then holding Okay, so many ways to slice and dice it But what I'm talking about here in book map and being able to apply the visualization or this Understanding and knowledge is right in here. Okay with the dots and with the volume And we got into nuances in here about Understanding all sorts of other things in here that maybe an algo trying to press price down into these levels here That ignition algo trying to ignite Maybe stops down below in these areas, etc. All right, so what guys are off to kind of a diatribe just to begin with here And let me get to some of the questions in here. All right J. Traders in he'll be coming in in just a second here and Looks like I'm all set in questions about Crypto crypto trader you guys are the best trader education on YouTube Mahalo Mahalo crypto crypto trader or surfer Yeah, thank you. I mean I think we are offering something different that's for sure And it's because the software is offering something different, you know visualizing the market in a very different way But you know here you go. I mean, this is a good example of how you may You know consider getting a higher probability trade based on the data in book map Whereas what if you don't have that this is what it looks like here Okay, hold on a minute. Let me get rid of the drawings Okay, if you don't have this information, this is what you're looking at You don't even have best-in-offer How do you know? How do you know if there's buyers or sellers up here? Right, you just don't And then okay, we made a decision to write around here based on the data within this little area in here on the wick And that gave us some good insight That we were likely to come come back down lower and trade into 45 All right, and then you'd still be holding some for the continuation of the trend in the bigger picture All right, so now that's really getting into it here and becoming more sure About your trade decision and that's what this software is here for is to help you build confidence by offering more insight to what's going on there and and like I said it's just data here And and that's what a lot of traders really enjoy about bookmap is we're just showing you the data And then the interpretation of the data comes from our education So we have all sorts of traders lined up here. So I we have the educational course. That's online It's on our YouTube channel and then we have the Live analysis webinars similar to what we're just doing right now that we do Monday Tuesday and Friday and Then we have J Trader Live trading with a J Trader for stocks He'll be in in just a second And then we have tomorrow scoppelsini for futures All right, so we can put we you know, that's the education that we're offering here We have Tom B in the right after this webinar. He's away This week he will be back on Friday at 11 30 He'll go through volume profile and order flow All right, and then we have rain who does crypto markets in the morning at 8 30 East Coast time And we have all sorts of other events with other traders so You know that that that's the and we have our discord channel on our discord channel. We have all sorts of Events and community So, you know offering this this education and the support to gain understanding and deeper insight from others and Networking so that you guys can really apply this and and make better trades Okay, enough on all of that. Let's J Trader should be in in just a second here now. Look at this Look at this out of the blue right out of the blue just tons of buying coming in All right, so either something happened or a larger player All right, so let's see if they can we already got a pullback here All right, let's see if we can get a little bit more up here And I'll be looking for it to retrace back up into well. It's already done its retracement here All right, let's see if we can get up a little higher here at 48 maybe even 50 back up to 50 here It's a lot of buying All right, so let's see if we can get a continuation now what we're looking for in the order flow here Okay, and you can you don't have to target 50 target the top of the the candle here Right, this would be more of your range bound trade yet again Here we're looking for this see that in the bid and the bid here 44. They're showing a little bit of size there Okay, all right. Well it attracted some sellers now. Let's see if we can get back up here at 45 Nothing, okay. I'm looking for 45 45 50. I'm looking for buyers here Okay, if I get it, I would write it back up and I would take maybe some partial profit up here At if I candlestick trader, I'd be taking my partial profit up here Maybe a little bit higher there. They are I'd be in I'd be looking for the move higher Right now. Let's just zoom out. Okay, so that's not a bad area It's it's in line with the swing here. Okay, you already took some partial profit. Okay, and you're still holding Okay, maybe it's gonna the next one is 50 here and that's an important level is the half figure So, you know, it's up to you if you want to get out if you want to hold it if you're looking for a move above it Whatever that's the data is here. The liquidity is here in the market And that would be Another area to consider All right, so there's a couple of trade ideas now. These are not trade recommendations Okay, it's just showing you the order flow and then applying this within a candlestick chart Trading strategy, right? And you know taking a little bit here and there now it doesn't have to be on these low time frames as well You can look at higher time or your higher time frame. You're still short basically and There's nothing in here on the higher time frame to tell you that you want to go long All right, so what you know all sorts of ways again to slice and dice it By looking at different time frames and and and the data set within those time frames Let's see Paris you have a question before you start the trading day of trading. Are you looking at historical? Yes, I am at levels and I I hate to kind of call them support and resistance but levels of Activity Where a big events took place is more what I'm looking for. Okay order flow events Joseph good morning, Bruce. How are you? Good, buddy. Are you up at four o'clock? Las Vegas Las Vegas time though, right? Denver time I got back over here to Denver. Ah, okay. Okay. So yeah, let me take my mug off of the video here and Let's If you can share your screen and we'll get going Let me know if you can see my screen. Okay? Yes You see it Bruce. Yes, and let me pop it out Okay, and hold on just a minute There we go. You're all set. All right. So good morning traders Ah Beautiful day this morning. We traded something like six tickers. I will share what we did but mostly will go to life price action analysis and trading over here So I'm back from Trader for cause where we where I spoke about the trading discipline self-control Ways to control your risk management and control your soul thing trading and today I would say was a perfect example So this over here. I wanted to start sharing KITT which is Which is this book map over here So this is one of the the trader's execution from a member I just want to share a few things the risk management It's not important over here You know if he made money or whatever actually traded very very good because he showed over here and still holding But a point is that this was a short on a rejection and we showed it this I alerted this trade exactly the moment this morning was simply perfect. We traded seven tickers and Seven wins we had so I would say Great morning This was the play Okay, so when we had this first push out of the gate this level over here near the pre-market high on the field We shorted so exactly when we started seeing this over here My alert was over here 577. So I alerted exactly this point Because you can see that it going straight up Big eat my buddy here Seller came in very tight risk. We had like four cents risk for something like about 20 R And before this you can see the trader was very over here patient And then over here what he did he was looking for the wine didn't happen trailing the money So that's a risk management. I'm talking about okay, so this is a perfect read This was a Chris so perfect read over here, and I think it's very important to understand Price section over here being absorbed at these levels over here. You can see big eat my been the 5th double bottom More heat pump over here. So buyers pushing back up and then over here. He basically stopped in the money, right? So stopped in the money Over here, there was a halt So if you can see traders, this was the moment of how 590 look what it did. This was simply amazing Because it's called one of the setup that I love Bruce knows it I trade a V pattern to the downside to the upside so we here push be pattern came down You know here look what the trader did so short over here now He still has to update the chart, but basically showed up here have the halt and from that moment You can see What the stock did so he showed up here and Now it's up like 1.50 bucks per share. Okay, so we're talking about a six dollar stock, right? So he took all this But this was the setup that Also be here. This was a very very good trade. We can see I think an update over here. You can see the same The same pattern from another trade. This was a Mary So shorten over here exactly again on that pop Covering this case and in the money as well You see the risk management is perfect because when you short it Then you have to risk over here in the money a lot of traded roots I see that they stuck to their plan and It's good to stuck to your plan But then when the market reverses and you have to change bias You also have to change your plan or to use the risk management. I was talking yesterday with a trader He's very talented. I believe that he's now listening to me because I said we are going to cover a few interesting things today and He has like 90% win rate on the entries So he would say you know, he's a billionaire by this time But no the point is that when he is in a trade And the trade goes, you know in the money He doesn't take profit or you know, he waits for example in the short to have all done wine Now wine doesn't happen. We have for example the reversal He's stuck, you know to that P&L. He's stuck with the idea that the stock has too short to unwind And he ends up like losing the trade. So it's about really self-control and even putting a Trinly stop with I would say you're a broker And then over here again, you can see the trader at the halt during that poppin fail. So beautiful and wine. So Amazing, I would say work for the morning. This is another trader trader that helped over here exactly where we explained this So Ki TT was beautiful. We had a to say as well Trader short so a lot of stuff Risk management is the key today was the key over here on Peggy And I want to share with Peggy what we did so We can put this Peggy up. So Peggy's a small cab small float and no news today. It's just pushing up and We showed it two times two times with a very tight risk small win and then actually not small win because we had some literally who say Good size over here, but then trailing in the money So this was the main short we took 950 so over here Put this back up. Yeah 950 Alright, so when you see this level over here this 250 trader This was a pretty good liquidity and it was the half the number this level that you see the line over here So what I said was a very clear I said, let's look and everything that I'm telling is was recorded by screen share So, you know just like Very precise work we did today I Was saying let's look for that 250 break up because often what happens we have these a half little numbers Okay, the day work has a main catalyst so over here I was just saying Peggy before that pop only for 250 fake out or nothing and The point over here is that Two minutes later, we had a pop Okay, I learned that 951 over here. It came 250 push right away came down. That's a short to 48 and Then you can see we had some liquidity. We broke that support Held over here dip to the 235 so we took a main cover, you know Just like those 12 13 cents and then in the money and then you can see the push over here to the upside And from this moment, I said, okay now we only look for long no short anymore because you can see High volume came over here From this 250 break out. You can see the high ball in a high volume high ball Little bit of sellers over here. So we'll be looking at the Germans. We have like a the purchase or nothing also had this morning HSA this was a 70 cents failure Over here, I said Short HSA 465 935 alerted like I was alerting Peggy and the KIT So we had HSA Book map was again my timing for the entry as you can see the The high liquid over here stack at 470, right? So once the price went over here, I was Looking HSA for a short gap an extension play a low volume push, right low volume push The shorter we took was exactly over here 475 alerted and then Main unwind over here We had the call targeted for the main target for the day You can see from that pattern on this push or 65. We took almost a top tick boom all the way down to four so beautiful 70 cents almost seven cents fader in this one. Now what I'm looking right now KITT for more in wind We're gonna cover also what we did on the apple. We had also Tesla movers today We have I ideal so a lot of plays over here So let's start looking one by one if we can have some plays So we're gonna put HSA, which is a stock that we are still in We're gonna look at KITT. Oh, which is already under we're gonna look at Peggy I Andio We had also the here Tesla and Yes, you can see Tesla as same faders Tesla was a perfect daily rejection So now we're gonna look for these plays over here If you have question traders Everything that I'm telling this morning. We traded. I basically recorded that my screen the learns my voice commentary timestamp, so we had Seven wins and two scratches so almost a 100% win rate morning and For the month we're running with the 80% win rate 79% for September, so I'm gonna start over here with As we said Peggy, so you can see Peggy Just doing one thing bouncing with the woman it's in so it didn't take long over here this morning As I said, we showed over here this 248 for a win We also showed over here at 242 for 231st target then I'll break even so we showed it these two times over here when we saw that okay What's 10 o'clock? We were holding open level. Okay. Bye. Bye. We're not looking anymore to throw this But we're gonna look for Peggy if you can have a dip over here and longer, right? We're gonna shift to one minute chart There we are. So let's look together Yeah, the 250 248th area Early over here. I see some buyers Stack 262 and 267 but too early to take a long so we have to Wait our level. I think the best The best trade I saw this morning on Peggy Was definitely This Definitely was the stock Long over here for our trader stop and then long long over here using view up in j-lines and you know selling into this push I think this is the best longer the day for short sellers. I can say a lot of good risk management Short stop short in the money short in the money short stop over here. So every single time this this is a short seller But you can see that he basically didn't Didn't fight over here the trend He stopped out every single time and the same thing over here So short pops cover dips pop dips pop dip. So even here Not marrying the long side under short seller over here, but still very good execution like, you know precise timing with this This is not easy so not everybody can fail like this But you know, it's a good way to share also with you The the risk management So yes, just simply fader means support over here 37 30 Tesla main fader both J-line rejection. You can see over here J-line rejection at this point 9 30 J-line rejection over here around 10 o'clock. Let's see KIT team in the meantime Is going to There we are KIT team is going to the one-minute J-lines So let's look for a possible over here what I'm looking KIT team or a J-line rejection to read. We have a parabolic move Bruce. So We'll look at FNGR. So this is our stock That is basically Was in play two days ago. I was poor squeeze halted over here This will be pretty interesting. So let's go to FNGR. And let's also use over here to Graves So what we're looking is a level over here that I had from yesterday resistant a 50 and then we're looking at this then For ideally a short. This is a trade over here That is in the room good long on the dips over here. So great job on this long So now we're very extended from the J-lines from the 90 may so not looking really to a long cup here Mostly looking for a reversal short and for so part of the room that is still short and I choose a indio just hold it Cover the main parts about hold it So here KIT team moving we're looking to recycle short on KIT team for the lines Rejection or VWAP rejection on KIT people to recycle short okay So we're ready short from the top on this Who just came over here on screen share? Are we short from this six? 620 area with book map. So now the here KIT T Going into the VWAP going also to that field lever 550. So let's look over here So this 537 That's a level too short for us. That's 537 over here. That's perfect short on KIT T risk in 540. All right So the 537 area too short KIT T risking 540 So we're short over here what J lines in VWAP With a very tight risk exactly that's 537 of there. That's your short that 537 Risking 540. So we're looking for 3 cents risk and at least 3r return open also over here fngR See when it breaks it 540 over here. That's exactly your stop We're still looking for another trade Now we're looking at 560 KIT T still pushing 568. So let it go right now high volume At this point what I'm looking over here Only for or a fail of VWAP and rejection or for this high at 610 So these setups that they like to squeeze Mid-morning I will look to reshore them not really too long them Three-fourths of them on KIT T when we have this mid-morning the push they tend them to fail More push over here on fngR So we're waiting fngR for now that 850 or 9 or an eventual stuff over here KIT T we're waiting at this point for or the level of 580 Or for the level of 6 plus So we're looking at intraday levels Peggy in a meanwhile. Remember we are looking for J-Lens dip. We missed this So perfect J-Lens dip. You can see the dip and right away push Up 15 cents from there. We're just alerting two minutes ago Peggy We're gonna look for one minute J-Lens long Possible wash over here coming on KIT T Joseph regarding you know that a pretty interesting story like or you know one of your Followers there or 90% win rate Yet, you know, he's he's still losing money. Yep overall exactly So And I know I know you said like I well stick to your stops, uh, you know or You know, but how does one like kind of Start to build confidence and um Move forward from that scenario There's a lot of work to do When you have like this kind of let's say problem to fix in this case is uh Is a risk management and discipline Uh, so he knows how to use risk management is the point that he's cannot apply it or not always Uh, so this uh requires a step back And work on himself This is the first thing to do and this means journaling looking at there that is doing Doing exercises. Uh, this is what I do for example in inventory when I follow a one-on-one uh trader Having a daily mentor That evaluates your trading that you have to be accountable to him That you have to have a report with him It makes you improve step by step day by day Of course He's coming to me now because he has this problem to fix. It's not that you know the day after it's going to be fixed but having a clear routine and uh precise rules And uh goals to achieve every day and these goals have to be you know I say affordable in a sense that every single day you have to have a goal that It's just like you know a little bit more than yesterday. Maybe at 0.5 percent or 1 percent And now I tell you Bruce, you know like change exactly totally your diet, you know like from tomorrow you change your diet You're gonna go like probably, you know gonna get like Overwhelmed you're gonna get like stressed And probably you're not gonna last but if I tell you Tomorrow change one meal, you know have one good meal tomorrow And then after four or five days Take a second meal good And then after four or five days or one week or two weeks a third meal You know, you're basically going to change your diet your lifestyle You're gonna find discipline. You're gonna find routine to follow that you're gonna like it Because you're gonna do step by step so that's not going to be harsh On yourself because remember that As human beings and this is what we're talking for example trader for cause We don't accept to be wrong. You don't accept to want to change something Because our mind Is not going to respond to something we don't like, you know, I always look for the easy way Meanwhile over here, that's the setup k it perfect stuff that I need to show one second traders This is exactly what I'm looking for You see the big push over here to the seat map, right and that's my fake out That's the level to short over here 555 so Perfect perfect setup over here on k itt. So our mind as I was saying is not like Doesn't have any printing to do the correct things, but always finds the daisy way Stuff short, okay So in this case is working On himself working with a mentor And like every single athlete out there has a coach, okay I want to become a six seven Trader Then you have to have a coach and you have to work with them in order to Uh, I would say overcome these difficulties and what I can tell you bruce is that in the last I would say decade Uh, all those traders that I that I mentored majority of them It was not too much about the setups or the price action or to learn the order of It was more about the explain Or this could have because for example you as a trader You can be disciplined eight Nine days out of ten. Maybe you have a good streak Maybe even like, you know, like one month old green and then one day You're basically not feeling that perfect boom. You're gonna have like your worst loss For the last six months or one year And this is something that is normal because we're humans we do errors That's the reason why you need somebody always looking at your plan your work Telling you what to do where to put the stops how to fix them and this So this is basically the What I would tell you as as an support for this The other thing is Working yourself means From so you said before how to get confident Uh, how to get that consistency Uh, you start basically basically from the routine in the morning when you wake up You have to have everything planned Feeling good. So you have to do something also that you release stress Night before if you wake up or like me this morning up four o'clock over here in colorado or uh after after work, you know release could be like, you know Jumping the rope to staying with the kids to go and horse riding to eat something that makes it good Basically, we need to release stress Uh or endorphins, okay And then all of this releases a lot of serotonin that makes us feel good I'm more patient feeling better not over stress But I mean there's there's one thing and I I've kind of brought this point up many times Uh over um And you're talking about people can understand setups and trades and whatever Uh or order flow or you know, whatever. Yeah. Yeah, sure. Sure. I I get that people people understand that stuff pretty quickly um, however Uh The next step is To understand if you know, do they have an edge? Uh Because like, yeah, okay. Now I need a management this and that and whatever but like they you still don't know That every time you take a trade Do I have an edge? uh, and uh, then then Because you don't know if you have an edge or not You become undisciplined with your trade management because you don't know Uh, so I'm just wondering like because there's a big distinction there between the two so This this one trader who's hitting 90 percent Does he actually have a nine an edge there like he knows exactly what he's doing? Uh, and then if he does then then of course it comes down to trade management But can you demonstrate an edge? If if you're hitting 90 percent or 99 percent, whatever it is Uh, very very high percentage of winners. Is it for like, you know five cents And and uh, and then every time you have a loss. It's like, you know 50 cents Uh, so exactly exactly. No, I would say that in his in his case. He has uh, he has an edge So he has a good risk overall ratio, but it's just like, you know, that mentality of uh Want to get too much too soon. So traded with a small account And um And don't get me wrong, you know, it's good to look always to make money But if you focus only to make money to build your capital very fast, you're not focusing really on the main theme Which is instead trading good If you're gonna trade or a professional professional never thinks about the money professional thinks about like trading good executing the plan So if you start doing that Then everything, you know, will be in place and an external plan Uh means consider the entry but also the exit So a lot of traders that I see they only focus too much on the entry But they don't focus, for example, on the exit and that is really where you make your r return for me The entry is not that important. I mean the timing of course is important I like to enter at a good moment But it's much more important for me where I take profit and where I put my stops and where I put my trailing stops That makes a difference because I can enter even, you know, I'm not perfect Like, you know, many other traders that maybe they're more like skilled with timing than me But then if I have, you know, the good plan the good strategy My set of our working this is good in this market, you know, the the testament of this is all my members who are making money Then I have a good exit way All right, that is how I make my return So so then in this case He knows he has an edge Uh, he's he's hitting 90% win rates Um, but he's not following his plan Exactly exactly exactly or we will say we he follows it in partial, you know, like only for The entry and everything because I see all his answers and enough And I started like to, you know, to look at over his job in the last 10 days And Is actually our like spot on it's just like, you know, the management the risk under control. That's what he has to face Okay, and that's where it's a slippery slope because like sometimes you manage the trade And it when it goes against you, let's say 25 or 50 50 cents Uh And then it comes back And you made a you knew how to winner and you're like, oh, okay Well, all I have to do is then, you know, wait a little longer and Uh, and I get I get another winner But it's that one time when it goes a dollar 50 against you and now it's wiped you out Exactly exactly exactly and always start like that, you know, I risk a little bit more risk a little bit more and you know In about maybe half the day you're down like huge So so but that's that's an interesting point though because like and I'm just bringing this up Maybe I think it's I hope it's helpful for everybody like, uh You know, if you have some of these issues, uh, for example You're not actually hitting 90 percent if you're following your plan So you got to take that number into consideration. It's actually not 90 percent If you manage it the way you're supposed to management, it might be 75 percent or 60 percent Because that time you get a win It went against you and you still held it But you got a win out of it And that skews your your percentage Exactly bruce. I met uh during this day a trader. He lost seven figures In a one trade, of course his account was Big but he lost like 70 percent of his account In one trade, okay So imagine how did he feel the day? And the point he told me that he was like doing good, uh, this is a trader that you know, uh, 2020 made, uh, three millions 2021 made I think like two million something Uh to this day like happened like a month and a half ago Uh, he was doing good like 1.4 million. He lost like one million something in one trade And uh, I told him but you know, he had problems with risk management They're talking like this And uh, we were dinner together and he stopped like eating when we started talking about this Um And what me him and my wife and he told me j you know what I treated a girl like, you know for the last three years I would say A risk management about 80 90 percent always correct, you know, like uh using his stops He doesn't use like hard stop losses And I think that's you know, always the The main point Uh, he had mental stop losses always and I see a lot of professional traders generally don't have hard stop losses because They they think always, you know to be that precise to know what they they know what to do Uh, the point is that that one day didn't use a stop loss, but it's not that he Said i'm gonna risk live it a more i'm gonna risk a little bit more i'm gonna risk live it more And then he started like, you know to hold this overnight Hold overnight Uh, this was a short on small caps The trade could continue to go go go and go And uh, eventually He he was, you know, like down almost all the account He had to close it, you know margin call or whatever And this happened For one time that he said, okay, I'm gonna give a little bit more risk So when he had when he was like told me around minus 80 k Uh for in his trade and then he said i'm gonna give a little more risk like 100 Then it went 130 then went like 200 and then so on That is how he basically worked for nine months and this happened to me as well in the past Working for nine months In nine months what happened boom is like, you know this job if you don't work and you bring home the money If you don't cash out it's not like an normal job That you simply have your paycheck every single week or two weeks or one month whatever that is No here if you don't produce you don't earn in this case is like if nine months he didn't work Of course He's a professional trader. He chose for a living. He had any other money on on the side But our point is that not having for one time that risk Because you know one day we can be tired one day we can be upset one day We cannot be like totally focused on trading Uh, and he had a main loss But he's not the only the one I met a lot of traders like, you know They did the service like in the past maybe even more than one So uh for me the discipline is the most important thing If you don't have that kind of discipline always have, you know, a set risk with the broker that you know beyond that You cannot risk for the day Uh and try even if you are like a professional trader you have a hard stop loss For example, let's say I long over here At uh, this is, you know, see the error just when it goes up over here to 64 to 65 That's my long buy set up. Okay. You'll learn this very fast when you trade with me Uh, what I do even if I You know, don't use my stop loss because I have mental stop loss Put always when you enter on these stocks two dollars like a 20 cents Top away from the actual price just like, you know for We're having a safety Of course, you will stop over here where the price goes 259 to 60, right? But just to have it you enter 265 out to mentally have a stop 20 cents away 255 Of course, you're gonna trade a seven dollar stock. You won't have 20 cents stop. You will have like 45 50 cents stop Just to have like, um, you know a risk Then when you're in and you have a stop, let's say 255 over here or 245 you can drag A your stop or you can move you can cancel stop and move it to more break even But always always have it Makes sense bruce. Uh, what we spoke about. Yeah. Yeah. Yeah, absolutely. Absolutely. I mean, uh, I think the the key here Is exactly what you are talking about with discipline of Well, if you have a strategy that works you've got to follow it um and you can't Fiddle around with it And uh, uh, you know, why would you it works? So don't don't fiddle around with it. Um, Uh, you know, I mean just for the discussion and try to try to just one analogy I mean, this is for you to to take, you know positions in here and show us about your trading and your style Um, uh, joseph, uh, just one thing though quickly like there was a book on habits that came out years ago I forget the name of it, but uh, uh, they they, um, interviewed tony dungey the football coach Uh, and he had a way of a kind of a different strategy of of, um coaching where he said look We don't even care if they know our playbook. We're going to be so good at executing these plays That you're not going to be able to you know, you even you might even know where the ball's going And who's going to get it and everything but it's going to be so well done that you will not be able to Um, uh, defend against it problem and it worked extremely well, uh, and uh But the problem was when there were key moments in the game and you're talking about really, you know, some of the highest, you know, uh, athletic You know skilled athletes, um Out there and when it came down to it though their training or their their history was like Uh, now this is the game is on the line. It's an important game. I'm not going to do that anymore. I'm going to do something different So now they're not executing the same way. They're they fiddled with it. They're they're relying on their skills instead of their way of executing Uh, and um, and then that that's what hurt them. Uh, they were not following the discipline It broke down at certain points Uh, it it sounds similar here Yeah, yeah, I would totally agree. Of course Of course, um, I would say it's A big battle for traders, you know, this this mental Mental discipline, but it's something that I've seen It's uh, totally you can get trained. You can get a lot better So this is about, you know, how much you deserve something if you want to change and improve Uh, I remember, for example, when I was like, uh, doing taekwondo for Uh, for about six seven years and I was small, you know, I have my coach My master is now the first one in the in the world. Um, Mr. Chung And he was very tough to me And what he was doing is uh, basically, you know, every time I was not doing a form correctly or opposed correctly at the end of the the session He used to like make me, you know, do maybe one of your push-ups or run for one mile Uh, so what I always preach, you know, to the traders I follow, you have to do this It's like a punishment. It's something also I experienced Because I know that eventually your mind will say, hey, you know what, I'm I'm tired to do this One of the push-up I'm tired like, you know, to not to be rules and you start doing things better Because you know what in our mind Uh reacts and learns only a few in a sense Tread them or like, uh We say You give them a punishment, you know, you don't like the fact that after you will run one mile because you're already exhausted But you have to do it. Okay, then your mind will start like Adapting and force himself to do the right things and a similar here in trading Okay So if you don't, uh, learn Exactly how you have to trade Having an edge Finding the correct setups You're not going to make it So that's the reason why all the training behind is super important when you're doing like this It's like if you're an athlete traders are like athletes. They have to perform at the best They have to be like physically and mentally in shape I mean, it seems like your your path Was and we've talked about it before in the in the past like you were getting really tired of losing And uh, uh, so you started to look at something very specific that Worked for you, uh, and then you just got really good at it. You knew that it worked Uh, and now and then you started to develop your edge because you started to Journalize it and started to track it and only trade that Exactly exactly exactly exactly Yeah, and then now you know now you have many different strategies But like that one strategy in particular Was the the the data that you had on it you now you had confidence in it You knew that it worked if you just do these actions So basically at that point you're just a machine doing the actions Exactly the process of making money has to become automatic If you think When you're trading you're done. You're already losing it has to become automatic And that's really like for me, uh, a big edge. So I know my patterns my strategies in my plays Automatic so instantly you have to trade them For example, uh, we're looking at Peggy over here And we had This jail on rejection jail on sorry bounce over here. You even see the error. So it's very simple over here. I mean, this is like The abc for me of trading. That's my spot for the long over here exactly when I see that we're coming in So over here now what is doing is basically basing to 274 you can see over here We have 206,000 over here of buyers That level is exactly here That's where I can add more to my long I know that it's 10 past We have a high volume. We have a stock above the pre-market. I we have a stock above the jail lines We have a stock above the vweb jail and offered upside that is my added long and this is so easy This is like free money over here And this is basically Entering with the system. Yes, we had three long select this on three different stocks tops S&TI AARC all gave me like a massive return for the long side And this is very very easy Bruce. Look the heat map The setup is already for the long. This is the dip That's where you add to the long and then you can trail now looking for the three dollars We're gonna use the 90 major trail Yeah, yeah, this this is it. I mean just beautiful, you know And you just kind of sit back and relax. This is your strategy exactly Uh, I really I mean, it's really great. Um That you've added the uh quantitative data in there now, uh, joseph So in addition to your setup that you know and you've traded for years Now, uh, you have quantitative data telling you that 80 percent of the time or whatever percent of the time With these, um, specifications this stock Um closes above the open or whatever it might be Uh, that's exactly and and now that's that's that's an easy one because it's quantitative data. All right. I got a percentage I got a number Uh, it just go with it. You just have to find out where to get in and where to take profits Exactly It's part of uh of the strategy having stats then having the chart pattern And then having the order of flow for the timing And of course this implies also when I say strategy risk management self control discipline and everything It's everything together. It's like a puzzle So for me to to take a trade like over here on peggy Is because I have everything under control everything respecting my risk respecting my plan respecting my process respecting my strategy And then when I see this I just have to execute Very very easy. That's a long setup. That's I had Super easy trade this over here. And yesterday as I said, we had ARC SNTI TOPS same exact process So some very good volatility uh this october in the small cap plan. I really liked it I know today we had uh apple mover We had twitter mover. We had tasla big mover. I mean, but these setups over here Are pretty good. A lot of these stocks move like 100% uh On a small cap plan the last few days. So very very good So joseph based on on our discussion here and this live trade here with peggy so Uh, you would be getting in somewhere around, um, I don't know 276 or something like that. Is that right? Uh, first this because the setup that we had at 260 right previous setup. Yeah exactly So exactly over here on the v pattern Over here v pattern Soak on the main heat map over here. This report. This is a perfect soak over here Exactly this dip Right away on the reclaim 265. That's where I trigger the 265 I see over here my error coming in And I see over here the price pushing. So I see the volume over here the buyers And then I see over here the candle you can see boost is making like an engulfing over here So this is an outside bar of this one. So there's 265 266 exactly here. This is my point But then I said my stop What I'm looking is for an ad And I'll start looking okay where we have now a good heat map. They can give me a very low risk That's the fine risk over here. That's the fine risk 274 You can see we have absorption one two three four five times And exactly when I start seeing the push 276 277 I am adding I'm not adding far Because if things don't go good, I'm going to use the 272 as my trailing so the I would say the the nearer the support the lower the risk Right Now now, how would you if you can go through managing this position? So this is the first answer level I like to take always partial You know on the first push so when I start seeing some stalling over here And then I set my stop to break even or use this slow And then of course over here when we add what I'm looking this is a nice peak I'm taking on the partial So now what I'm going to use I'm going to use this 273 272 because that's the main supporter before So that level over here exactly this point. That's my trailing for the entire for the entire position I led this stock to work for me I look at also the five minutes hard And we can see we're in a clear uptrend. There's no point over here to accident our position Yeah Okay, so overall stop now has been moved up to 272 Exactly why because sometimes what happened Bruce we have like, you know Fade breakdown of the heat map they're doing purpose And then right away they reclaim so I don't want to you know get out to get in again I risked generally where $2 stocks two cents more This is where it becomes like I think for a lot of traders like kind of a slippery slope Now you've got you this is complex trade management. You've got multiple positions multiple areas And scaling in and scaling out So You know, how do you I mean, basically what you're doing is you took some off you got back in you took some off And now your stop at at your stop what would be You would still be it would not just an overall break even right or is it you're still on profit No, you'll still be in profit because if you enter here like Your position you scale out partial you add so you have an average between this 276 and this 275 265 so you'll be around 269 27 you over here Okay, the point is always to be in the money when you trail, you know never get Good win into a loss right, so Yeah, yeah There's there's just so many different ways to to manage this this complex You know entry exit or you know all the partials and scaling that you've done And and then how how do you you know when you first probably started to Work your strategy You were probably all in all out. Maybe you had a little bit of a A trailer or you know one one looking for your runner Now when you get more and then that built your confidence I would imagine Tell me if it's different But something along those lines and you're building your confidence you're building your strategy And then now you get a feel for trade management on how to Scale in and scale out, but also not take a loss On the overall Yeah, I don't I don't know if you can elaborate on that. It just sounds like an interview. I'm sorry, Joseph I this this room is for trading and and going through but we are covering like, you know Your trade management and I think well, I think this is you know important for for the risk So the traders understand Yeah Which trades to take and also how to you know proper trail or manage a trade So the main point for me is Lowering always my Actually improving the risk level ratio. That's the first thing So I'm not really looking at this point because I know what is my win rate I'm not really looking at this point To improve the win rate But I'm looking more to have dig our return and this becomes this comes only if you can manage five stop losses So having a low risk And of course looking for you know multiple our return per trade If you do that you have the secret to make money This of course means you have to have self discipline self control in your trades and everything So respecting your stock and respecting your trailing But if you can Time your entries the best Find the perfect levels to trade for example I don't want to ever trade long over here on breakouts. I'm not entering these points over here Where I'm entering will be levels over here or levels over here long where I have a very low risk And you know a possibility of having a major win for multiple our return The same thing this morning when we're trading at your say And uh We alerted this at four sixty five Exactly Into you can see over here boosting this heat map over here, right So I alerted this trade exactly here four sixty five The risk was uh four seventy. So we're risking five cents The first main target is four twenty seven So we are having thirty cents return for five cents risk. We're looking for six our average of return of this trade If I have for example my entry four sixty five, but then the risk is like Four ninety five in that case. We have thirty cents risk thirty cents target It's gonna be one hour And I'm not gonna set a trade like that So knowing where to enter Knowing where to stop Using the time you know here of book map Trailing correctly respecting my targets. That's part of the plan process disciplines of control Having multi power turn how you build your account Trade like this easily, you know like for 5k profit in a in a morning Is very very easy to do because you're risking very small and you have like very very good return. So And what I like about this Is the fact that We had over here i'm gonna Do like this We had over here that fake out that I told you before often, you know when we take a position I want to see that Fake out and then I short it Because they will do in purpose to go break the 470 They fake it out Can see over here liquidity comes back. That's my where I load the boat over here this area here Now this morning, we don't have like that much liquidity over here to take like 15 20 000 shares But you know taking between five 10 000 shares is still possible and you take a very good unwind Yeah, yeah, I guess like where I'm getting at is so Um, and I'm kind of you know digging into the details here in this in this webinar in this discussion Of course, um Now But what you're doing now is you're How how can you call what you're doing is disciplined with the scaling in and scaling out? Unless you have a bigger plan because you know exactly what your average has to be And exactly where is your risk? So you're trying to I would say minimize the risk Um maximize the return And over here, uh, this this talk in particular was not scaling in scaling out But if for example you scale in you have to scale in into precisely or having a clear risk For your average knowing how much you're going to be down for your average. That's very important I'm not a big fan of scaling in I prefer, you know, like, you know one two trades Uh bigger size and find the correct entry Okay, okay. I just think a lot of traders and why I'm asking I mean You know over Over time you get a feel for it and I get what I'm gathering is your answer is Um, I've done this enough times. I know how to manage my risk. I've already taken my partial profits Um, I'm not going to take a loss on the overall Absolutely, absolutely. But there's not it's not really like a kind of like a written out plan You're just kind of like this looks kind of good enough. I'll take my profit here or I have my reasons for it You know below the heat map um a couple of uh cents Uh, but uh, that's about it, right? Exactly, I mean, you know already because you traded this like 1000 times or you back tested like 1000 times Or you know more than 1000 times so you know what it's going to do Or you have stats by your side So of course I'm going to respect the plan because I know That this payment the last you know 15 years 20 years five years one year that I traded So that is confidence and that is conviction Right, okay. That's where I think a lot of traders can get in trouble because maybe oh, you know, I'm building my confidence and then maybe I take a step too A bit a big step too quickly Uh, and it's like I'm now I'm going to scale in and out and then I don't know how to manage my position Absolutely, it's uh, it's something that you have to start doing with very very small size when you scale in and scale out Uh and learn how to do it if you want to you know do that and that means essentially trading around a court So scaling in and scaling out the position uh Start doing this very very small, you know, even with you know for a five dollar stock with 50 shares in order to learn how to do it and Recycling is something that you learn with time Doesn't mean that you know to be a good trader. You need to know that Because you can simply short or long one position exit. That's it But you know if you want to Work in this sense just takes a little bit of time to master this so give yourself patience Traders think that in three months, they will learn how to trade or one year. They will learn how to trade Uh traders have to learn that it takes, you know, at least a couple of years to learn how to trade So when somebody comes to me and say, oh, you know what? I know how to trade on a professional trader How long have you been trading? You know two years three years. You're not a professional trader. You're still a beginner So for me everybody that you know didn't do at least three four five years trading. You're still a beginner Yeah, yeah, I mean very valuable stuff, uh, joseph. Thank you Thank you bruce So let's continue to look our peggy. All right. So peggy you see over here sweep So remember trader where we're saying risk in the 272 You can see over here the break of the j lines at the 270. That's the level we are marking 272 That's the main main fail over here. That's where a seller jump in Let's zoom in So that's the point of what we're saying. We're bruce us now the risk management If you are long And we're trading over here the dips And then we're looking for that main push the upside Of course, you have to know if things don't go Uh, you know with our plan where to trail and this is still a win This is still like a trail in the money. So we're getting out of here in the money Yeah, great. I mean there it is demoed right in front of us Exactly. Just what we're saying, you know trailed at 272 Yeah, beautiful. So right now we'll look to trade this short nor long We'll simply avoid look at something else For example, we have the sideways action on k itt Which is just like grinding over here. So right now it's at the 10 o'clock Above the open level We'll be looking only for two main levels over here, which would be the pre-market high major clear out Or the 640 major player over here, which is the high of the day So those are the two levels that I'd be watching otherwise for me. This is a no trade Waiting over here Not also that high volume that I wanted to see this a five minutes are with 500k average So that's not much. All right, bro. See 1130 over here. We have any questions Um, no not not really. I think um, we covered Everything And I've put your contact information into the chat here a few times So if anyone's interested in this kind of discipline And You know trading uh A style You guys can reach out to to joseph. Uh, and uh, Uh, you know go go through what, you know, some of the mentorship that he's talked about Uh, now really really great great stuff. Uh, and I'm sorry to to take a lot of the discussion time here with oh, I think we had a very good, uh A very good like, you know a discussion today. I really liked it And we covered like some very good stuff So for me that was uh Very important to explain traders how to have the you know the risk management Uh, so perfectly here. This is an example On this one, for example, bruce of risk management. This is a twitter short You know, we're looking for that on wind That the trade doesn't work We caught it and then here we trade a second time But you see over here, for example Uh, this is a trader that i'm following mentoring so you can see this risk management He's not staying in, you know against this position using right away the risk out. Boom Doesn't work because you know, you have like in this case an opposite direction A trader not following. Okay. That's that's the reasons to stop That's what we're talking about, you know form risk management with good examples Uh retrading practice analyzing your trades having a mentor because all this A lot of these trades, uh, they can unwind big, you know, when we have the the correct entry or, you know, that day is the The the the stock will simply unwind like yes, the amazon was a big runner for us in the in the room But today for example over here, we didn't have the The trader, you know, get pop up of news with with Elon Musk Good reason we're here to trade. So that's what is most important more than, you know, uh 10k win or whatever It's sharing this the risk management here in play Yeah Yeah makes makes uh, this is the the Like you said, uh, it's like the other element of of trading, uh, and and what you said earlier Is the most important element you can that most traders understand entries and and, uh, you know, the strategies and and order flow and all these different things But they just can't kind of wrap their head around the trade management and the How to how to handle some of these scenarios with with losses or Whatever it might be Exactly exactly buddy Yeah, yeah, really really great. Um, there was a question here, uh, joseph about, uh, Is dilution a factor in pegy Uh Okay, the point is a lot of people Uh, I look at dilution, you know, we realized that the software we take it a dilution to play as a trade, but Dilution is a double sword ads because everybody right now is, uh, think, you know, there's dilution Let me show it right away And then they squeeze for two three days until the big hands are not satisfied mark is but very manipulated So knowing that right now we have, uh, this information that everybody can have access to And knowing that there is dilution is not really a big component or, uh, For shorting for a reason to short the stock Okay The point over here is that it's looking more at price action or the flow If you look at it dilution will tell you, oh, there's dilution. There are warrants of four or let's say We have like a 55 million shelf in one month's left of cash But there may be a still on day one Uh, big hands of the opportunity the volume does the shorts to squeeze what they're gonna do boom They're gonna try to push this all the way up as much as they can So they use the fact that early short sellers crowd Will be stuck they will do whatever they want once you stop loss your account gone boom They're gonna really like dump any of their offering Okay, so that is what the mark is doing right now. That's great. Um Um Yeah, yeah, that's a really really good question and a really good answer there. Um, okay. Well, let's see. Uh, one more question from kishore Oh, those are those are uh, j traders, uh, j lines there. Um, it's uh Kind of moving averages plus some extra stuff in there that he looks at It's is his proprietary way of looking at things. All right So, uh, we've we've uh, we're gonna leave it at that kishore because uh, you can reach out to j trader You've got his contact information in the chat there um All right, uh, well I guess the next time we talk to you joseph, you'll be back, uh In, uh, samarino Yep in italy finally. I can have some good food Ouch ouch That hurt You know, you are nearly three years. Come on, you know that the food is much better Yeah, yeah, I'm I'm not gonna debate that. Um All right, so bruce was a very good discussion today. I really liked it. Uh, let's do this again next week Uh, thank you traders for attending us with us today Uh, I hope that it was useful talking about risk management about control in your trades We share also some Examples that we traded this morning Uh, so thank you again. Uh, see you book them up next week and take care. Bye. Bye