 Hello traders! Good morning. Welcome to the live Advanced Bookmap webinar. Today we're joined by Scott Pulsini, a professional futures trader. We do this every Thursday, 10 a.m. Eastern Time. It forms part of the education here at Bookmap. Usually Bruce, our lead bookmap educator, hosts these but he's away this week so my name is Sam. I'll be helping Scott today. Just a few things to take care of before we dive in guys, if you could bear with me. So Scott's contact information you can find out more about him on his website scottpulsini trader.com. You can also connect with him on Twitter Scott Pulsini TR1 and the the risk disclosure here. 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. Trading futures, equities and digital currencies involves substantial 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. Okay that's that's it from me Scott are you there sir? I see you're in the room can you can you hear me? Okay you hear me now? Yep I hear you. How are you? Sam can you hear me? Yes Yes I hear you. You hear me? Okay yep good stuff. Let's screen here. Are you got my screen? Yes I'll just set it up. Yep I see you. There's a curly log yes here. It's a little sticky area that I was a little hesitant to put this on but I thought we'll go over these areas here in a second but I thought we can push a little higher here and still think we can. Anyway we had basically right at the open you had some cell ice here. We had five almost 600 here and then another 1200 here so you're looking at almost 1800 over 1800 iceberg cell ice here and then there was a stop run almost a thousand stop run here you can see so black zone is the cell ice and then I drew the stop run and then I traded out the stop run I got an aggressively an ATR just outside an ATR out of there because we are above the old log and my stop goes an ATR below the zone so it's not looking real promising now but we'll see if this zone can hold if it doesn't then stop out and move on so you can see here this is why I was a little hesitant of taking this trade so this is a prior market profile composite this is an older one here and we were right there and I would have much rather seen a poke in here and then retest and then go but I got I was aggressive with this because we drew new lugs and we were above the old log you can see it stopped at the baby lug and now it's pulling back here so this needs to hold you know as far as lugs are concerned you know I use these extensively these are you know very very good for day trading you guys have seen them in prior webinars if you want more information or try them out you got a free three-day trial just go to our website mudwiglevels.com so your special pricing for you guys but that's what this is but as far as lugs are concerned you know when you build new lugs you want to see it the market should hold prior red so prior red plus resistance it's just like anything else in trading as far as prior resistance resistance should be support so you want to see it hold directional yellow the new directional yellow the class stand would be prior red so this needs to hold right here or else this is probably coming down to the blue so it'd be nice for by ZS 150 contracts and you know if this fails here and gets below here and I start getting set up so I'll stop out and then I'll start looking for short so this is you know this market is short-term bullish but we're approaching areas that this could this is another reason why I was hesitant of taking this I thought there was a little upside more upside in this I do you think we can get to this zone and then I really want to see what happens in this zone this zone is pretty important here right so you can see you know I draw my zones on the four important areas of charting tops and bottoms of balances high vibe notes of balances directional conviction which gaps are that's a gap there this is directional conviction as well and here and buying and selling tails so again this zone was this day closed right here and then we hope we gap down this day huge so this was a really important zone we got back into it we did get through it and you can see that I'm served as support just like we were talking about resistance now our support is not resistance in this this case then what we had here last week was a failed breakout of this balance and led to this big now move right so this now this zone is basically the I vine note of this balance which we have never retested yet after we did that and then you can see this is was directional conviction for you it actually started from here but this was important because this was where it sliced right through the I vine note of this so that I'm gonna be watching closely if this can't get through here if you know if I survive this long right now I will be getting probably getting on in this smart at this zone and just watching what happens here so that it's holding it's trying to hold right now you know the internals are looking pretty bullish as well you see the 80 d's at 1800 advanced decline line anything over 2000 is usually trend update Vicks was at its lowest it's popping back here a little bit but you know and then the tick here is trying to hold above the zero line right most of this morning so far you know 40 minutes into it we just spec below it a little bit that's on this pullback but you know as long as this doesn't start making extreme tick readings which is you know right around 1000 then this should continue a little higher again I don't see it there may not be a ton of upside in this trade that's why again I was has an untaken it but I'm willing to give it a shot here because my vines that upset you know do go long so I look at my important areas on the charts but then I don't take the trade until I get confirmation in the volume set up so you know these zones have to hold I trail my stuff I put my stop based on this setup right I could have potentially gone an ATR below this the sell ice to but you know if this stops me out then I'll reassess and move on this what trading is you put on trades you know you have the edge and you just keep putting them on you take a lot you keep on them on you keep on them on if you know you have an edge it's just you know I say this all the time it's just like a casino I mean this is like this is one of the main points in the book trading in his own you know casinos know that certain players are gonna get hot in certain days and so on and so forth but they don't start changing the rules because they have a bad bad day or you know a bad session or a bad week or whatever so if you know you have the edge you know this the odds are in your favor you just keep putting on the trades right and we talk about the stuff all time we'll go over my P&L a little bit it's you know you have the drawdowns and then then you have the spikes right and that's what trading is so my point is if I lose on this trade you know I don't like losing it crushes me when I lose because I'm very competitive but that's just the nature of trading right you find your best areas to trade and you put the trade on and then you wait and see if it works all right some other markets here that I'm watching one NASDAQ is pretty close to this important zone as well I just really this is gonna be really really important what these markets do in these areas this was this day or the balance here and this is this is where this directional conviction started here and then you can see here this is where we opened up this day directional conviction and again I draw my zone to the significance so there's obviously something prior here so there's real quick obviously it's not as important now but that's some stuff over here too so it's amazing how these zones hold up even after you know goes through them and then comes back and then they reassert themselves right so this was buying tail directional conviction this was directional conviction out of here served as resistance resistance resistance directional conviction gap and then once we finally got through there that I launched right then we came back again that and that so this is this is an important zoning or if it can get through there then we're probably most likely I'm not saying today but I'd say over the next couple days gonna be coming back to this stuff here this is a really important zone here so you want to watch this zone and then this zone if you start to rather definitely get up here today we get up in it we can get up here today too you never you never say the market can't keep going but first and foremost first order of business is we want to see how it reacts here all right so this is holding that zone you know if I were to have traded this conservatively I trade the I trade my setups one in two ways either taken aggressively meaning right when it gets out of me outside me a five minute ATR I'll get in certain situations otherwise I wait for ATR retest failure so either way this looks like I would have potentially been in this trade if this gets a little higher so this is still showing bullish because it's holding this zone if we get below this zone then something's up and we'll be looking possibly to take some shorts that's a lot of markets I want to pay attention to here crude after its walloping the other day 9% move whatever this was $10 these were important zones for back here you can see we sliced right through here and today we sliced right back through this one so when you trade through his own a bunch of times you can delete it right so I'm gonna now delete this zone it's not important it was important I was watching this for potential for this to potentially stop here and I'll rip right through there right so I am now gonna delete that because we ripped through it there and then back through there so that's no longer important because it was stuff from over here as well this zone is still important what is this song well this was major support we launched from here came back retested launched from here came back gap down it held launched from here launch from here and then we sliced right through it so if you know these are always signs you know on this day we caught this we caught this short I didn't catch the full $10 move but I caught a lot of it in the very early stages of this move if markets sliced right through important zones that's telling you something's up right like you do not want to be standing you don't want to be buying right here is what I'm saying but now we've seen this before in this this market actually I can find another example here was very recent because I remember it sliced right through so when we come back here many many many times it serves as resistance so I'm looking here to potentially sell crude and there was a setup I haven't drawn it yet because I was getting on the webinar but I will draw it and I will try to the short side here because this is a very important zone and zones are even more important when you take straight beeline moves into them right so it's a different story when you move into a zone to say you build balance just below it right meaning just two-sided trade guys would take place in bets when you move in a zone that way this one's not as strong because you got guys puking that can just rip right through it this is a different situation this market has moved the gap from here straight into here so all the buying all the energy was to get here and now anybody that can read anything about charts can see this is an important area that could be fading and all the buyers were to get to this area right so this is a different situation where this is a potentially a very good short so I don't just blindly short so this is the difference right a lot of guys right now a trade crude are shorting right here because of this zone it could work it may not but when you layer in your real-time volume now you have what's happening currently and you can trade off that right and then this is the ultimate edge in the important areas and that's all again you may have different areas that you trade trade with let's see what this was this wasn't quite this is almost a double whammy so double whammy is the is the dumb money puke into the smart money you know the bigger money house this is not quite threshold I will include it in here and just make this as a double whammy zone so I'm incorporating the stop run and the sell ice here and I want to see how this reacts here you can see it's just kind of bouncing around here check our ATR 43 43 ticks so it's a little over I round up so 44 ticks that's step 2 check our lugs we're at the red lug very important we're at extreme standard deviation of VWAP very important when when markets get to these extremes and I'm talking about lugs right here led with levels I call them lugs so I have to say led with levels of 85 times of the day you have these reversion to the mean elbows elbows are 85 plus percent of the market so you want to be aware of where you're at meaning you don't want to be just be buying at levels like this potentially right what you want to use to judge if this is going to keep going is if relative volume is very strong in these areas if it's not strong then the elbows will take over right so this is VWAP this is one standard deviation this gray area and we call it it's called daily value area and then you'd start to get in extreme standard deviations that's one and a half standard deviations from VWAP this is two right you can see you got up to two I mean it did hug it but then we got to red lug so there's a lot going for this trade to the short side right when you get confluence when things start to line up those are a plus areas of trade so I know I have confluence extreme standard deviation I know I have red lug not quite at this market profile but we are in that zone I just showed you guys right so there's a lot going for this to stop and all this isn't it basically a another rule of thumb you want to use when you get huge moves huge directional conviction moves many many times it'll retest the halfway point of that directional conviction and that's a stopping point and it makes sense as far as pretend you're one of these traders imagine if you were one of these traders that got run over here and you're holding your breath and you're waiting for a return it's like a lot of times it's like okay I came back a little bit I'm getting out here right and just it's on candy how often it's about 50% of the directional conviction retest comes back about 50% so that's all all that stuff's confluent with this zone right now so we're at the red lug my rule of thumb is I trade off of the red lug aggressively to the short side so my ATR what I say 42 ticks 42.3 so I'm gonna trade 40 I go a little outside an ATR so we'll say 40 48 ticks we'll make it five ticks above that so that's where the bottom of this zone is 103 26 so I'm going we'll say 50 ticks is 76 what I say 48 so 78 I will short this 102 78 if I get filled on that then my stops gonna go 48 ticks above this zone right so we talk about this every week do not base your stops I mean I still got guys in my room doing this the same nonsense right it's like I don't like to risk come up to that zone too I don't want to risk you know the hundred sixty ticks or whatever this trade is to tell you right now what it is my stop will go just say 50 ticks so I'm basically risking to 104 so this is this is a hundred twenty tick risk trade right but the volatility is demanding and the volume setup is demanding that's what I risk you don't want to be putting on trades only risking you put it on I only want to risk 20 ticks guys you're gonna get out go out it's almost a guarantee right so you want to be placing your stops away from the volume event and including the ATR right so that's how I trade it and trust me I don't like risking 120 ticks on trades but the volatility is demanding that I do that so I don't just get randomly stopped out on the rotations and on all market this is one of the most rotating nonsense manipulated markets so you want to get your stops away from the zone so if you have to trade you know be risking more than you need to use something like this this is inclusive to my room join my room you get this but this is a risk calculator so you know for my account size we'll go over this is actually increase you know I'm risking what I say 120 ticks now you come down here for my account size I can put on I could actually I could put on three 120 ticks it's 1.2 but that's a hundred 20 ticks and so I can put on a three lot based on my account size and you want to really again if you're risking more than if I was only risking 50 ticks then I could be I could be putting on what seven lot right and again if you have a smaller counts they have an $18,000 account you don't have to change anything in here you just buy this by 10 right so it's instead of 182 it's 18,200 you're still only when you're risking at most 2% of your account size on any individual trade so instead of risking 3,600 on the trade you're risking 364 hours right so that's how you want to use this definitely this is number one in your trading to make sure you don't blow out your account if you don't follow those rules risk rules you're going to blow out your account eventually I will 100% guarantee it right you might get lucky for a while but you're gonna blow it out because you're gonna come into a day where you're just getting smushed and if you're losing you know a third of your account value on a trade or even in a day you it's going to catch up to you so you have to be prepared so I thought this was actually going to go on this torture treatment per usual when I trade the yes all right so this is the stop run here I could potentially short this now on a retest I wasn't going to take this aggressively this is NASDAQ by the way let's draw this on here's your stop run 190 stops so remember when you're drawing these zones use your cursor and you want to incorporate all the prices that happen in this price spike right so I want to make sure at least I'm coming down here I think that's correct oh the other thing to crude I just remembered today's because there was a holiday 4th of July on Monday the crude number is today so I probably don't want to put that trade on so close to the number so we got some time so I'll put that on if it was the number was in nine minutes I will probably wouldn't put that on but I'll wait all right so this is clearly a full ATR this is a done-and-dumber set up now right dumb money puke stop runs are usually dumb money no whole follow through meaning the big money didn't come on behind it and continue to push it instant failure right so there's one of two ways to trade this you can get in aggressively just outside an ATR or you can wait for the retest in this situation I wait for the retest because we are above actually I think I could have taken this aggressively because we're at the red lug and yes I could have so I just missed a trade here so remember what I this is what I'm doing and crude right I take my trades aggressively short I know we're above the yellow lug but if we're at the red lug and I get a signal I take the trade aggressively this is really important area for Nasdaq you know this for also it's all that zone we're not quite there but this needs to hold inside this market profile composite this gets back out of here we're gonna do one of these right so I should have already been short this trade so I being here in a second one of my best markets ATR in here is 24.3 so I should have been in this just outside an ATR bottom of this zone was 47 so 30 points would have been 17 ever been right around 20 that's right here so I'm gonna put this on actually right now I I got lucky it came back potentially see if I can get it up there every time I do this I won't touch the price I'm gonna sell off there you go all right so this is this is actually not a bad hedge now because I'm long yes right so it's I don't trade like that it just happens to be that way but so now I'm filled there now my stop goes 24.3 so 30 points above here puts me to 80 to 50 inside that I go a little bit outside of an ATR so I'm risking now on this trade you know 60 points and that's fine because I think if this market gets rolling to the downside I'm gonna be making at least twice that probably more so we'll see it's not I have opposing positions on so that kind of there's no fun but it is what it is like I'm not I don't skip trades in other markets if the volume setup is telling me to do something right so even if I get stopped out of this trade now and ask that code most likely be moving in my favor and let me write that one hopefully I don't get stopped out of both both ways any questions Sam yeah I've got a couple of questions you've been talking about one of my favorite topics actually which is the risk management on how kind of important that is you also kind of spoke about your approach of just you know keep putting on the trades in the casino analogy I was just just wondering like besides the the two percent risk calculator you use and the way you account for volatility as well is there any other kind of risk management processes that you you kind of follow to kind of ensure you can just stay on the guy like daily losses or psychological analysis of yourself or anything like that it's it say the last part again I had the copper alert firing off I heard most of that like if you have daily loss limits if you stay away during news events or if you have like if you if you monitor your own psychological state like if you're getting tilted or do you kind of walk away or do you have a system in place yeah to ensure that yeah absolutely we talk about this all the time too in here and on my room very important so first of all we're talking about you want to be risking about one and a half to two percent of your account size I need to trade not any more than that for the day you want to make it about you never should be losing more than five five to six percent of your account size right so you need to have things in place with your broker because again I love the analogy Mike Tyson everyone has a plan do they get punched in the mouth well everyone has a plan well yeah if I hit my my drop dead today if I lose a thousand bucks I am done right yeah it's it's all it's all sunshine and rainbows when you're not on you know and like you said I'm tilt and emotional and pissed most most traders are very competitive right and it doesn't feel good to just be like oh golly gee will occurs you you guys got me today I'll be back tomorrow most guys are like after that I'm trading I'm gonna trade with another thousand bucks today after that I'm gonna trade with another thousand bucks all of a sudden you lose 33% of your account value right some of my room did it the other day which I was quite shocked after all I do is talk about it but the point is it happens right it happens to the best of us you guys have heard my stories in here if you've been on any of my webinars like two different days back to back you know Fridays in one month period that I lost eight hundred thousand dollars two different days that's one point six million dollars my drop dead was supposed to be one hundred fifty one time was supposed to be a hundred thousand dollars so I have that stop and then my risk manager was supposed to stop me at that point too but at that point in my career I had shown because a lot of times you know in trading firms or my trading firm like you would go on tilt and you know they would they would they just cut you off you couldn't put a trade on and then I would settle down I call them up I took all the owner say hey just give me another 50 grand if I lose that I'll just leave for the day and then it gave me a little bit more you know rope to hang myself but a lot of days I would make I come back right let's get this over just so we can watch a little now we're gonna rally of course because I'm short the NASDAQ but that's fine and I took this trade for a reason so I many many many times I would I would make a comeback right so it got to the point where I would hit my hundred thousand dollar loss limit and they wouldn't even call me I mean they would call me they wouldn't shut me off automatically they'd say hey you're right and of course I would just lie and say oh yeah great and I could tell you to you don't get killed so two different days if if I would have just stopped myself at the hundred thousand which was impossible like I said yeah I had good intentions but once you get under the gun and you're on tilt you would be amazed I'm sure many traders on here probably most can relate to this you don't you're not even the same person you're just like what you're so pissed off and you're just seeing red and you're just not every decision you make is wrong and then you you know you get killed you blow out again I lost 800 thousand almost a million dollars in one day and it wasn't even in today it was like literally in like 20 minutes right and then you wake up the next day and you're just like who was that person like what was I thinking what was I looking at here to hold that position so on and so forth right so back to everybody has a plan that you get punched in the mouth you have to have that in place before that happens or you're going to blow out your account so you know again you don't buy you know insurance for your car after you get in an accident or house insurance after you have a fire you do it beforehand do the same thing with your risk control call your broker say I want to have it should be about 5% of your risk in a day so if you say you have a $50,000 account you should have a $2,500 stop or that or they literally just shut you off if your broker says we don't provide that find another broker there's plenty of competition out there first of all it amazes me when I hear some guys say my broker doesn't do that guys brokers are in money or in business to make commission to make your money and if you blow out they're not making money off you anymore so for brokers not to be doing that that's just either laziness or they just don't want to concern themselves but find another broker right so get that in place before you go until because you're going to have a day that you go until it's 100% right and you're not there's going to be a day maybe you do it 90% of time where you can stop yourself out on your own there's going to come a day where you just lose your mind and you're going to blow out your account I'm telling you listen take it from me I just would have been able to stop myself and or my trading firm could have stopped me I would have an extra $1.6 million my bank account so or 1.4 million because I at least would have lost $100,000 on those days so hopefully that answers the question did I answer anything you're asking Sam yeah no that's great yeah completely relate to that good stuff we've got a couple more questions as well when you're ready just let me know yeah there's just tortured here there's a couple someone's asking if they have if they can have access to the risk return spreadsheet or is that shareable how they get that that is inclusive to my room a lot of traders have worked out there's different variations in my room but that is one of the perks of being a room member if not you can potentially Google it and find it somewhere else but that's if you're a member of my room that's what you get it's like one of the perks of being a member of my room okay and someone else asking for the link to the mentioned website I think you might be in the lugs site the website the Ludwick levels oh yeah I'll show you guys this is what you want to do here I just go to Ludwick levels.com our websites from 1982 I make fun of her all the time she says I have more things to do than build my website up so that's fine as long as we get the lugs I don't care what her website looks like so you go over here do the free three-day trial name fill all this in the comment box just say book map webinar saw Scott book map webinar Scott Palsini whatever you want to point and then you'll get especially a special price and then say what you know where would you like them either Ninja Trader use mine on Sierra or you can do Ninja Trader she's coming up with sorry guys last time off here which I'll go to in a second especially that gas we've got some cost some major trades in that market lately you can see this coming in right now anyway she's got other platform she's built now one of them is and you can see here is actually she's putting them on book map I don't particularly I have money or just to test them out these are actually a little different than the regular lugs she's got some different computations because they're again this is a beta thing I personally will not probably be using these on my book there's just too much on my chart already it gives me a headache and it's confusing and I just like a clean version so I use mine you know on the Sierra chart but she's coming up they're gonna be available on book map here shortly actually members of my room get access to this beta too so that's another perk if you come in the room then just say hey can I get the book map beta Ludwig levels but that's how you do that all right so like I said I knew the minute I put on this Nasdaq short the market would start rallying so again I'm pretty much I'm not perfectly hatched but is what it is this this area is very sticky so very it could go either way here and most times I would just say you know I'm gonna pass in this area because like we've talked about but we're not quite there so that's why I was okay with putting this on I still think this is going to be a major major major inflection point for these markets if this can get through here and then we're gonna rip or we can do that we're far enough now from all the structure so this is a this is a good example there was no zone here but say there was a zone here right so this was a balanced area we even talked about in my room this day this was I think Monday or Friday last week we had a failed breakout kind of like we had here right and you sell what the market did right so when you have failed breakouts the market should just do that well something was up when this thing just held here and then came back above this high volume note of this balance I was telling you know my room this thing was gonna rip now or it should because what it should have done it did not and many many times when it goes the other way that's when you get the big move and that's exactly what happened here so my point is it's not like this zone here is right in front of this balance where you're worried about guys puking this is the puke over a couple days so now this market can do anything here and you know I'm not I'm not extremely bullish anymore I was bullish when it did this got back through here and all through here and when it broke out of this balance I was very bullish now we're far enough from the stuff that this can do anything this may just you know forming a balance and that's why I'm watching this zone very carefully this is gonna be very telltale what happens in this and this one and here this is Nasdaq we just talked about that and then Russell RTY same thing looks like we're actually in the bed zone this is so this is stuff over here you had directional conviction you had directional conviction that way got through it kind of held and then we ripped right through it and now we're back so this all three markets this is going to either do this or it's gonna rip this way so just got to see you know this is almost through this zone here and Russell has been leading the last six months to a year so it you know if this can get up through this first and that maybe signifying all these other markets gonna rip through those important zones as well so as nothing happens in here let's see let's go to our this is why you want to be watching other markets to guys when you're the natural gas number come on so natural gas just came out so that comes out at it's normal time even holiday weeks this is not huge and this is a really big you know see this by ice here my thresholds 150 but not right after a number I want to see you know the elevated volume so nothing's really going on here I'm not gonna draw this zone I'm watching corn out to you guys so take a look at that possibly anyway I'm not drawing anything here natural gas I'll wait the number just came out crude we I'm about to cancel this short if this gets an ATR above here this this short setup is disqualified so ATR is 39.7 you can see it down here it just popped up to 40 and a half now you can see they're buying crude this is tic strikes another thing you guys can have they're on my website this is very helpful gets very annoying sometimes because it's not fun to listen to your position going against you but this is very important to find out you know if you're not staring at a market knowing knowing there's big buying or selling going off and this basically is an algorithm that tells you the size of the orders and the speed of the orders coming through so it's very helpful it gets really annoying I call waterboarding when it's going against your position it's literally like you get all your senses tickled it's not fun but when it's going for you it's a blast as you saw last week I think we had a nice position on it it was going crazy in our direction anyway ATR is 42 I think I said the top of this so long as well 350 so if this touched 92 it did so you can see these algos when it gets an ATR away from this this is why I go in it outside an ATR when I enter because when many times when you get the volume event when you get an ATR away from that volume event these algos snap it right back so the point is this is now actually a bullish setup because we never got the ATR below but when I was waiting for where I wasn't gonna go aggressively long here was because we were still at that red luck now we should have new lugs in here let's take a look quite yet refresh this sometimes in Syria you got to refresh it it's a little against here as a little cheaper charting platform and the reason is because you got it I mean it's very reliable but you got to do everything yourself and I mean everything so you go to build chart you got to build your own charts there's nothing like pre-packaged in that there's a reason it's 35 bucks a month right so anyway we haven't built new new lugs yet we are coming into an important area here where this could fail we talked about the zone we don't have new lugs and the numbers coming out in a little over 20 minutes so I'm not gonna take this long train of course stuff just keeps coming in here to tell me so this is canceled real quick you can see the cell ice just came in these are this this is the sweeps indicator this is if you have global plus which I think this well worth you guys should be getting both gold plus because all the things they have on there they have the sweeps indicator they have the they have the strength level this is showing you synthetic icebergs so I'm not gonna get in all that today but I know I've been talking about my new course I'm going to have it done I'm going on vacation on July 18th for a week and actually down at the end of the day so you can see all the stuff that this is gonna go over right this is just this is gonna be one of the sheets where you're gonna have that side tracker this this is the sub chart then we'll go over the on chart strength level that's the synthetic iceberg sweeps liquidity trackers that's all gonna be in the new course I will have that done by the time I go on vacation I will for I don't care if I have to sit here for 28 hours straight I'm gonna finish it so that'll be available if you purchase my prior course you know you'll get a deep discount I'll send out a mass email on that and if you're a member of my room active member of my room when I release the new course and you bought the course prior then you'll get the course for free so you know I don't expect guys that just bought it to turn around and have to pay for another course but it is gonna be way more involved than my first course and it's gonna talk about everything I'm doing today right like the draw on the zones the ATR all the stuff behind there it's gonna be very in-depth step by step so I will have that done by the 18th I promise there's just I've got so much going on and I just don't get to it so here's your new logs and crude so even if this you know we can draw this setup but I would now wait for a retest failure there's that I assume that threshold to 150 in here that's another thing the course will give you as thresholds for each market I'm gonna add some new markets like soybean oil and 10 year nodes and stuff like that as well three guys I trade that stuff so that's that zone we have new lugs that's definitely an ATR it's not definitely an ATR it's not an ATR we got to see 40 42 ticks above here again I probably not gonna trade this on because the number is coming out and we're not officially through the others on that I'm showing you guys let's see here this is a good equity trade by the way minus the good part so again this is why you won't be watching other markets so when this sucks you're not forcing trades right you just like okay screw you screw you yes I'll go I'll go trade crude or I'll go trade natural gas or soybeans or cord it's all the same it doesn't matter it's a volume it doesn't matter what futures market you're trading as long as you know the threshold meaning important volume to trade off of it's all the same stuff that's why it's works across the board so you can see we've gotten through this zone so that is definitely bullish so this these zones are the next step up it'd be pretty amazing if we could retrace this entire selloff but this is a very very very very important zone right so this was from other stuff over here I was looking at the shister I came around here this think this was that yeah we gapped up this day but this wasn't really directional conviction crazy but this is definitely where this started this is really important zone 10 probably 107 to 108 so if we do rip up there watch this zone because I will be shocked if it can rip straight through there especially if it keeps going today so we'll see it maybe maybe into the number we'll get an awesome trade so again being tortured nothing doing here you can see how this is why these markets react here this is a mine event you can see if you retest fail again let's make another temp this could rip up and stop me out but again I'm longing it longy yes so is what it is it's going on are the soybean any other questions Sam right now yeah a couple of the they might be Bruce questions though but maybe you can help do we have the option to add iceberg stop volume graph on TOS I mean as far as I'm concerned I think the TOS version of book wrap is a kind of trimmed down version and I'm not sure if it's possible but I don't know if you know any different Scott I have no idea I yeah I heard that the thinkorswim versions the bare bones minimum I've never used it but I don't think you can so and again you want the so if you go you know this is all my website as I tell you guys this every week this counts to everything on here right everything I use is all right here so book map click on that you get discounts to the you want the global plus to get all those other in my opinion it's you know maybe I think it's like 30 40 bucks more a month or something but you get these are pretty deep discounts these are like half for the first three months half for the first year for the annual they don't there's no discounts on the global lifetime because of the it's already deeply discounted but you get discounts to that and all this other stuff right there's the apex funding that I use that the room is using you should be definitely using this if you're you're you knew you're trying to learn or you just want to be backed by you know to be risking your own money which is very very smart right again I've done this personally to make sure it was legit they're completely legit we did a webinar it's pinned on my my my Twitter page again I get all these questions and so that's this here you can watch this webinar I did with them I actually qualified myself to make sure there was legit and they've had me funded and they had me trading within a couple hours had me set up so again you can watch the webinar but I'm getting these emails like well when you qualify they keep you on the paper trading he goes over that right because most because they got it they were trying to protect themselves but they also they do pay you right so you know once you go live so say you you qualify for the account and they have all these different options so my personal opinion when I looked at this I thought like for accounts with them because I'm choosing myself with 25 different accounts but anyway come down here here's your options right so I looked at this I did the 150 on all across the board I've got like four of them going right so a couple of them doing grains only it's just a good way to to trade we're not risking your own money right and a couple of them are for other people and stuff like that I'm gonna get in that stuff but the point is when I looked at this I'm like well this one looks the best because you know you have a profit goal of $9,000 over time you got to trade a minimum of 10 trading days and if you make nine grand you're funded okay your trailing thresholds $5,000 this is all covered in the webinar I'm not gonna get it deep in in this but this is very important because this is from your high point of your P&L so even if you don't exit your position and you and you say you get up like $7,500 and then you exit the position you're only at $4,000 well it's counting you from the $7,500 that makes it a lot more difficult you got it so my first two times in this thing I actually was profitable but I pulled back the $5,000 from my high and I got knocked out so I had to redo it I think it's 80 bucks to redo it right and then I qualified I did that my original reason for doing this is was for members of my room and you guys to show that this is a legitimate funding company and I've heard it from another you know veteran that he's gonna point me to this the first place instead it was legitimate so I did it myself so the point is I think this is the best one because you can see here you know for the $150,000 you're trailing thresholds 5,000 well if you go 200 you only get an extra you got to make another six grand but you only get $1,500 more in the trailing threshold and then you go to 300 it's 20,000 you know it costs more a lot more money it's 20 to do it 20,000 and you only get a $7,500 trailing threshold so that these do not equate in my opinion so that as far as risk reward and what you're what you're getting to do the 300 as far as the pullback and stuff like that so I think this is the sweet spot I didn't mean to get too deep into this but watch the video it's on my Twitter right here it's pin and you can see it I forgot what I was getting at there but but anyway click on this and the code is pullcini15 you get 50% or actually it's 80% off right now until the tickets the time Trader Sync this is what I used to journal again I'm going over this guy's because there's absolutely nothing going on in the markets right now so I think I'm missing anything because it's literally like watching paint track that's this right here so important you guys use this again I just want to talk about being so busy like I have not it's been a while since I've gone in here and tracked my trades this is going to take me a year to go back and do all my screenshots of stuff but the point is you want to stop by and 150 contracts that's in the same zone over there in a second you want to keep track of your trades and we're we talk about this all the time like the bad times of day and how I've given away so much money from the 10 to 12th central time period but anyway you know this is what I was saying I need to increase my risk calculator based on this new this thing's incredible when you get discounts to that on my watch just click on the link so the current P&L is 80 to 84 6 right so you go into your little risk calculator I do it up this 86 when 84 6 was it's able to watch these contracts straight this is how you build your account you just gradually add contracts as you increase your your concepts let's see what's going on here another stop run in NASDAQ still not stopped out these markets absolutely suck right now this is the sweeps indicator you can see there are 560 sweeps but that was part of the stop run right where you want to pay attention to this I'll cover this in the course as well as when you're getting these without stop runs you want to pay attention especially you know when they get to this kind of size but I will draw this actually what I'm gonna do is I'm just gonna make this own bigger because it's pretty much the same area I'm not gonna really I'm gonna leave my stop where it is because if this thing gets rolling this is gonna be ripping so I'll just stop out where it was but you can trade off of this new setup as well I'm not gonna add to this because it's in the same exact zone but that's that let's check our sweet ES trade that's done absolutely nothing all right I got up almost a round of golf at TPC here maybe I should get out and go play golf right now since these markets suck it's still alive in there again I'm sure NASDAQ does so one of those one of those trades is going to be a loser most likely hopefully not both of them soy beans this is actually drawable here you know 150 is my threshold I like to see close to 200 but this is my best market to which is unbelievable to me this is my I've made the most money in this market so this is what I'm trying to tell you guys this stuff works in any market because the driver of trading is volume and if you know how to read the volume in no important areas you have the edge right so that's step one let's check out our ATR in here there is 3.88 you can see right there in the middle of my box so four points I round up so the bottom of this zone was 67 half there's four points that's an ATR I should possibly be getting in this could possibly be getting in this aggressively let's see what our loves look like and this one I would not get in aggressively because the way I trade these for above the other I don't take sure it's aggressively I wait for ATR retest failure so now on that zone particular zone I will short it but now I need to see ATR retest failure we just got the ATR five minute ATR now if this retest fails I will go short just outside the ATR my stop will go in ATR above here just outside ATR above so looks like I'll be risking about 13 cents total in this trade so then I go to my risk calculator knowing that again it's the same point value as ES so you just can use ES I said 13 points I could put on six lots based on my account size and only risking 2% of that account size this is this is tick strike again so anyway this is all my site guys utilize this is all discounted all the tick strike not spot game on that rhythmic but all the stuff is on there is that any questions by any of that stuff or I just couple to catch up with here and Alec in the discord chat thank you he's confirmed that you can't get the icebergs all stops on the TOS the bare bones version of bookmark which is you can or cannot you cannot okay it's my English accent all right before the 48 come up with any other questions so this is a really important area like I said in ES we're coming up to this zone I'm really why I will be out of this trade and heartbeat here so 3897 ish this is an important spot gamma level see right here right here this is 3900 I'm gonna give this a chance to blow through here but this is really this zone this important level we looked at the market profile this is what the zone looks like in a five minute it carries over there's a lot of stuff where this could stop right here so I'm watching this very closely if it starts to pull back here at all I'm probably gonna at least half and then see if we can not in this year as I still not stopped either so let's see what happens let's see if we can get we need this is another reason why not just to know when stuff's firing off if you get to important levels and none of these are firing off max so I have these all set at 11 if the levels are from each one and one in 15 so one's the most sensitive 15s the words got it's extreme most extreme I have mine set 11 because I only want to know when really like you could see they're buying they're buying Russell aggressively right and Russell's usually it's been the leader so that's important to know too right but my point is if you get to important levels and these things are silent you might be ready looking to get out of some of your trade some of your position but see how this this is still firing off here what if funny that they're selling it and this thing's going off but this is definitely going up let's see if we can pull out through here again I'm most likely going to stop down this NASDAQ trade but I didn't do anything wrong there I followed my rules and that's just yeah just keep putting on the trades and probably I'm gonna give this a couple more seconds if this can't plow through this spot gamma level and this is 3900 and the SPX which is equivalent 39 and 40 you see how it's struggling right here I can guarantee you the second I get out of half of these that's gonna rip but I'm trying to be prudent here crude numbers in five minutes by the way I'm gonna get out of to their market suck by the way all right so I got out of to me my other counts as well second year always forget to get out of my other counts and I look up and then comes back 30 points I'm like what am I doing becks puppies any other questions Sam we'll keep this here for the number yep actually Emil makes a good point if you're watching this on YouTube and you're finding this valuable please smash that like button it gives us a good feedback it helps us shape our future content so I would appreciate that MK is asking is there do you do we have to purchase data separately for global plus packages to trade stocks and futures I believe you do yes you have to not only purchase the global plus package you also have to add the DX feed for stocks data package on top of that or the rhythmic data package for futures right well you definitely you have to have rhythmic you know I go this all be in my course as well if you don't get in the course but you need you need rhythmic data feed if you go to the bookman marketplace so you need you know to get the SI tracker stop I stop iceberg indicator tracker it's in the MBO bundle right so you want the MBO bundle and that gives you can see here stops icebergs up chart that's what I that's the spikes that's this thing down here you know it gives you also on chart which helps you you don't see if it's one house and draw your zones better as well liquidity trackers again I'm covering all this in the course as well but you get all this you got to get this per month and then you need the rhythmic so you can get this through book map so there's questions about this too right so you want to go to you know depending on what you want to trade I highly recommend you use other watch other markets besides just the crappy ES every day which most traders do for some reason I'll never understand why again you want to get so if you get just see me just see me products so you know Nasdaq Russell you are yeah Nasdaq RTY ES that's only 39 bucks a month for it for the date if you if you want all of these so you know you got CBO T's you got the grain grains bonds in there 9mx is the crew natural gas Comix gold silver if you click see me bundle you get all of these right and then pro or non-pro most of you guys are non-pro you want to pick that if not it gets a little ridiculous as you can see if you have multiple connections that they're going to charge you pro through other brokers and stuff you're going to get charged pro so be careful there and I'm not going to get into that stuff but this is what you want to get you have to have the rhythmic data or else you cannot power their only data data provider that disseminates the CME MBO data and that's the enhanced data that shows the stop stops in the icebergs so you know I just get so we got a retest so I'm going to be short here I just missed this trade what am I doing that's actually almost perfect that's your anyway I need a question do I'm doing this soon fire away okay Jill asks is there a difference between the bookmark versions that Scott uses and that Tom uses I believe they're both using the same global plus they may have different add-ons but it is quite customizable they may have the heat map set up differently but but I believe in terms of the software packages is the same it's the global plus package on ice to my ice for by ZB 513 contracts and Lou asks do you use spot gamma at all absolutely guys I have all these different accounts like trying to hard to do webinars and then crew numbers in 10 seconds obviously two three five million eight spots of stocks LCO 273 contracts I just can't fill it on I forgot to delete that crude that's great so I put that crude trade on her I deleted it in here why got to delete it in this is what happens when I'm doing these webinars I forget to do stuff forget to delete orders and stuff different accounts on different computers so it's just takes a while so I was a question oh I have no idea what Tom uses I think it's the same stuff but if he's using the SI indicator then he asked you have to have the rhythmic data and you have to have you don't need the global plus but I'm telling you it's worth it to get the sweeps indicator it's also the absorption indicator I don't have that on here right now and then you also get the over here the strength level that's the the you can see synthetic icebergs as well and since there's native and synthetic synthetic is guys doing it themselves native or through the CMA exchange it's a lot more expensive to do it yourself so that's why that's why most most big firms use the they just use the native and that gives us the advantage of seeing what they're doing right so that was the proper exit so far at least two of those you can see it's too right so this is spot gamma where we're at the spot gamma that's spot gamma right I use that and then I also use this I keep an eye on this hero indicator they have a book map and they have it also stand alone this right here so this is just showing the real-time options flow this is not red like green light I see they so they have their own room too guys if you know that I mean in this book map you go over here they got the hero room click on hero click on it right now and so I can't find my way back but it's not red like green light but you many times when there's huge divergences that's when the market stops right so you can see here let's check this out so like that this is a divergence right it's not nutty but it is the market black this is the options so again you can do total just put some calls again I am not an options expert go to his website like on the banner on my site you can you can learn all about it he gets very very very detailed technical some people love it I use in the very basic sense I like to see divergences and I like to know where the levels are these are very important because these are where you know options dealers are some of the biggest futures traders in the market because they have to hedge their options positions so you want to know where the concentrated options positions are to know if dealers are going to be fading these areas so these just work like any other support and resistance right right now it was resistance if it gets above there then a support right so that's what you want to keep an eye on that's what I use them for using in the very basic sense and that's all I need I don't need to complicate my trading by wondering and you guys you guys do this all the time even with the stop iceberg indicator you're like what are they doing there are they hedging are they you know they are they getting out of position it doesn't matter what they're doing why they're doing it you're never going to know unless you are God Almighty you are not going to know what they're what they're doing here what you need to know is this is a concentrated volume area where I'm drawing these zones and there's two sides to the trade so somebody's caught somebody's not whoever's caught usually puking up right so that's what you need to know you don't need to know the wise you need to know the what's the more you try to explain every move in here the worse you're going to do the simpler you make it the better you're going to do I can again I talk about this all the time when I made millions and millions of millions of dollars trading I had all I used was this I stared at this is that technical does it get much more simple no do I do it anymore no because it can't be done anymore because this is all algos now when I was doing it it wasn't all algos that the orders were real so if you saw 3000 in the order book up here and I came up here and I would start selling in front of it I knew if I sold a thousand I knew if I was wrong I could turn around and buy right and then that 3000 and get the hell out of my position nowadays most of the stuff isn't real you see you'll see 600 many times I mean the longer it's been in here the more real it is but you'll see 600 it'll get up here and it'll be a six lot if you're like what happened on liquidity so you can't lean on anything see that's why you can't I can't scout anymore trust me I would love to scout it can't be done unless you're an algal I'm not an algal I'm a click trader so I had to resort to becoming longer term again it's still not long term it's still a daily trader intraday trader but that's where this all comes into play right I forgot what I was going on there with that but let's see if this can plow through here again I'm probably going to stopped out of this nasa trade and if it does but this was the correct trade and I'm still not stopped out so either way these markets absolutely suck it's the way it goes that's why you want to be watching other markets I'm assuming this is going to push through here I mean it's just like sitting at this level so we'll see change of stuff right here see where we are in all these lugs as well so red lug is until 3912 you can see we're trying to get we're getting back in here this is why I was hesitant before but now we're getting back in here so now if I get a new long signal I will take it I'll add I'll get back in I'll put more on and not get back in I still have two on but I will add to it and I'll play that as my target and I'm pretty sure that's pretty close to this point of control of this positive value area right there pretty close and a couple points a few points so my point is we're starting to accept into this market profile composite that's very important as well try to get out couldn't do it you always want to come up with stories if you're using these market profile composites which you should be because they're very very powerful on top of you know everything else I'm using and I'm not using that many things very simplistic stuff but if you accept in here the tendency is to get to the other side it should get to the other side if something happens and it doesn't and it gets back out of here well then the big move is going to be the other way right so you're always trading on what should happen but if something happens where it doesn't happen then the other opposing move is usually the big the big move right so that's right now this should get up to here today at least red love right if this fails and gets back out of here something's up or probably gonna have a nice solo but right now you gotta be leaning bullish and this stuff's confirming it too include there I'm gonna delete all these prior zones because a new event has occurred so you gotta be careful trading prior areas after something new happens meaning you know things change now that the number came out so these prior zones are probably not that important and I'll just wait for something new you can see this did come in right after the number there's a nice little puke there 225 I will draw that so let's uh what am I doing here let's delete these zones let's draw this let's get this out of here for it now so these are the sweeps this is one of the things you get and so you can see this sweep was not part of a stop run it wasn't the major part of it that's important to know so somebody just a sweep is just so the white I just use white and black because I have enough colors on this chart but you can see the bubbles are the market orders so somebody just swept down in the white the white circles are responsive buyers meaning resting by orders they just got run over here that's what the sweep shows you very important especially when you start to see outside sweeps so that was not a stop run and this next one was there's a lot of these sweeps there's 331 sweeps 228 of them were stops and that's what this is showing you it's 226 it's usually right right around right another reason why this sweep indicator from the global plus is good we'd help you draw your zones because a lot of times you can see right where the big move started right let's draw that changing my stop runs to white or yellow so I know what they are when I just glance on my chart so let's see what setup this is one of my sixth things set up so that's what the course my course is cover ATR and to check is do we get an ATR out of here ATR is up to 52 52.2 so 53 top of the someone's 103 20 did we get 53 ticks out of here looks like we did yeah so 70 what 73 actually 70 was the ATR and I got just above an ATR and pulled back because these algos know where these volume events happen and that will snap it back many times at the ATR that's why I go outside of an ATR to enter trades now you guys remember I used to go because I was trying to save some ticks which just killed me I'd be like okay 70% of ATR out of the zone I'm getting in and then the marker would get right here tick me and then come back then I would go 80% then I went 90% then I went 100% and I kept getting ticked now I go just outside and it's working out much much better so I go just out so if the ATR is 53 put your stock like get into the trade at 54 55 you know just outside of an ATR is sufficient in most cases so this did get a full ATR out of here it didn't retest this zone yet let's see if we could have been we could be aggressive on this trade along the side now we look at our lugs this is how I determine if I'm going to be aggressive or not we are below the yellow lug so what I told you guys earlier lug wise when you're coming up with your story we built new lugs this is prior red the market if this is completely bullish should hold directional yellow last case scenario prior red and you can see it did not and how we're getting back below there this looks like a bullish or bearish it looks like we're coming down to minimum back to the blue we also know I think that failed back into this zone but you can see it barely focused that out of the zone that's what I was telling you guys this zone is really important it tried we're back in here if this gets back outside here we're probably going to retest or retake this entire move would be my guess right so there's a lot of stuff pointing to the bearish the problem is this this current setup is already confirmed itself as a bullish setup it doesn't mean it's not going to go lower it just means I would not take a short off of this now because we've got an ATR above here that's just the way I trade you can trade it everyone I say at every webinar this is the science the artist how you trade this I trade these in distinct ways because I've watched thousands and thousands and thousands and thousands of these over three years and I know what the tendencies are right that's the point of getting the course and learning the stuff and for me where you don't have to watch thousands and thousands of them and just know what you're doing you have the edge right but I know if the market is able to push away a full ATR it's not a good trade the other way or say for this exact setup so I you know I won't get short on this one but trust me this starts moving down you're going to get a new setup and trade off that will I go along here I would because if we want like here here here's your retest if this gets back over here I'll give this a shot because the vine I know that that zone is important but we're right at the top of it and the volume is telling me potentially to take the long so we didn't retest this though so I'm going to wait for the full retest full retest and crude if it gets within you know two ticks that's considered a retest this did not this was within what is that 18 40 you've got four ticks so I mean you could if you want I'm going to wait just because I know this zone can potentially hold them and be bearish I'll wait I'm pretending remember the zones don't always have to retest I just know the majority of time they do sometimes if you wait for retest you're going to miss the trade and I'm okay with that because I know it's a much better trade waiting for the retest failure than getting it this came within four ticks you could go along this if you want when it gets back outside an ATR I'm going to wait for an actual retest what's going for this on the long side as you can see above when we talk about every webinar resting liquidity this these are magnets right you can see they pulled it into the number now they're putting it back in meaning most people would look at this and say wow look at all this you know look at the support or the resistance up here someone wants to sell I want to be sure it's the exact opposite these guys the longer this has been in here the more willing they are to get filled and they will get filled because they'll end up pushing the market into their orders tell you guys all the time this is the game I played non-stop when I was scalping I would put in big orders right I put I mean wasn't this far from the market but then I put all my orders in I put like thousand thousand thousand and then I would start buying and I'd see how the market reacted if no one no one stopped me I'd keep buying keep buying now I'm loaded up 3 000 long and I people would see me buying they don't know who it is well actually you could see who was back then but anyway they would jump on my coattails and they push it right into my resting orders I say exactly what's going on up here guys I mean this the simpler you can make it the better you're going to do if you just say this is liquidity these guys want to get filled this is the big money they get their way because they push the market around these markets are manipulated if you can't beat them join them you know what they're trying to accomplish you can trade to the long side or your your thesis is to the long side based on liquidity you know you want to take other things in the factor but when everything lines up everything was bullish and then you see the liquidity above too you're like it's go time now I'm just going to wait for my volume set up and I'm in all right I didn't need a break from talking any questions yeah the squat guy sounds like you I can't tell the difference he's got a british accent too that's pretty funny if it doesn't work out but I know I can get another job there and be in a squat you got a job there you got to be up all hours but so we've got a question here I think I know the answer how are you getting those volume profile charts I think that's Sierra charts right that's that's where you get your volume profile uh that's not this is actually volume profile this is market profile so I don't particularly use volume profile because all I do everything else is volume so I like this look better this is more based on tpo's type time price what is it all I figure out the O stands for um opportunity time price opportunity right so I use the tpo's as just a different way of looking at the market versus the volume profile I know that the guy in here um you know comes on after me I give you the time he uses volume profile and that's fine right but I I look at enough volume you know I look at relative volume we talk about this all time which actually we haven't really looked at today let's take a peek you know this is showing you why nothing's going on right look at this look at this relative volume so this is for some reason these other trading platforms they don't show this type of relative volume this is based on the exact five minute time period for the last 30 days that's really important to me to see you know exactly at this time are we above or below normal volume right you can see this is pathetic you see red it's like 70 percent that's why the market's not going anywhere because no big money is coming here participating so let me show you an instance the other day where you could have been like right so this was crude on this ten dollar sell-off day five minute wise where you could have said we talked about this in my room obviously said all right something's up look at this right so the minute you start seeing you know you come up with your thesis and then you see this and then you start to see this look look at this volume four five six times normal you know you're going to get a big move this is big money playing right this is a whole different scenario then if you see like this you see this you get this you get chopped you see this you know something big is about to happen and boy did it right so this is how you judge so you could see the difference now in that versus how equities look right now that tells me it is chop city and you probably don't want to be sure especially at this time of day we all talk we talk every webinar at this time of day how poorly I've done over my career I've lost millions and millions of dollars between eight and ten o'clock central so you got this time of day so this is showing you you normally say well this time of day that's why the you know that's why the relative all is dissipating no this is showing you actually at this time of day this is even worse like it should be up here just even at 10 o'clock central it should be at least normal for this time period it's not even getting to normal for for this time of day this is just telling you you're going to get your you're going to get whipsot right until something picks up here I mean azix not too bad but ES is horrific RTY is bad Dow is bad like this is meaning when you see this you really want to be careful on taking breakout trades you're very very likely for this market just to go head fake back head fake back head fake back until he gets a big big vine coming in here right and especially at important levels like this is a very important level if you do not see big money coming in here it's very unlikely this thing is going to push higher it doesn't mean i'm going to get out of my position but i wouldn't be surprised it came back i mean especially because i'm short this too but something you want to keep an eye on i forgot why i got on that tangent oh back to the market because i was saying what i look at i look at enough volume is what i was saying so i use the market profile the time component where it's just basing in on time right so this is today's trade all right and see these are just the half hour periods and then i draw my composites based on with the market the daily value or the the value areas of the specific days line up more than 50 percent then i'll then i'll merge them together and then i draw what's called a composite and they are very very very powerful let's look at the last composite here like this day here let's see i think this is only a couple days but let's see what it looked like and why i merged it so you can see this was like 624 is this day there's your value area value area is just worth about 70 percent of the trade occurred during that day the point of control is the price that traded the most very simple right this next day more than at least half of this day was inside the priority value area so i merge them and make a profile composite and you can see then you come up with stories based on what the market is doing like this day try to get out and just rip back into it right there should have told you the tendencies to get to the other side boy did it right through it and through it and you can see the first time back up here it's struggling it's struggling you really think this thing can push through here and rip if there's no volume coming through that's why you want to know your areas and know what the relative volume is doing and your setups so it would not surprise me whatsoever to see this fail out of here again just kind of do this until the big money it's back from launch or wants to play that's why we're struggling right now still not stopped out of this puppy which is good got that going for me which is nice all right any other question sam yeah i've got a question about how you how you get filled and partial filling do you always enter on a single field or do you ever scale into your positions and what are the kind of pros and cons of those approaches um i always get into full positions but i will scale out in important areas right especially if they're confluent with stuff so like i scaled out right here it was a little above baby lug but i knew it was standard extreme standard deviation i knew we're here i knew it was again baby lug and i knew more importantly it was a spot gamma level right so if i get a lot of things that line up in an area i'll get out of part of partial my position i put on the full position to start but i'll get out of partial important areas right but the answer to the question is yes i put on full size and then i get out partially but i do add so for instance if a new setup came in which it doesn't look like it's going to happen while we're on this webinar because the volume sucks so bad something new came in and it got above here and i know we're above the old lug i would enter i would add to that trade aggressively right and what i would do so i put on a new trade brand new size not even counting this i'm not even looking at that right brand new size i put on a five lot or whatever it is according to my risk that we talked about i would trail my stop an atr below there and then what i would do with this this position i would trail this stop then based on the new setup right so that's how when you catch like the other day we caught gold which is shocking i know i said i was banning gold but i was so mad i missed those moves so that was this trade the other day i don't have the screenshot because i just haven't had a chance to do it but this day when you catch a day like this again you can see it on the chart but i don't have my actual charts in here um usually they have a chart in here i don't know where it's at it's interesting but when you catch a day where you get setup after setup after setup after setup you keep adding and trailing your stop you have a month making date and shockingly this is pulling back right here just like we thought because there's nobody in here play except for the algos so if you like to get algode this is your time to trade between 10 and 12 if you like to get whipsawed and be tortured this is for you if you don't you say i'm not trading from 10 to 12 talked about that but anyway when you catch it when we're talking about adding to your positions when you catch a day that's trending you're going to get set up you take your trade you get another setup you take that trade you trail your stop based on your first setup and on the days you get setup after setup after setup like that gold trade you can keep adding and you have a month you know a month making day a year making day and that's what your goal should be as a trader you're kind of treading water lose a little make a little lose a little make a little and then you crush it when you catch the trend we talk about this all the time as well if you think you're coming in here and you're making consistent income every day i want to make 500 bucks a day and i'll be good i quit my job i'm gonna make a thousand bucks a day guys it's not gonna happen yeah over over if you have an edge and you know what you're doing and you control your risk you make 20 000 in a month you split that up in a day per day you're making 500 bucks in a day or a thousand bucks a day fine yeah that's possible what i'm saying is you can't can't rely on consistently making 500 bucks a day because this is not a normal job it's not going to happen that the nature of the markets you're going to have down days up days we've talked about this again and we talked about this last webinar this is what when you have an edge this is what your pinot is going to look like right just talked about this last week i understand but there's always new people on here and this is so important right you can see these drawdowns were not fun but i just kept putting on my trades because i know i have the edge drawdown drawdown drawdown drawdown drawdown drawdown this one was painful too back to new highs if you have an edge that is what your this doesn't mean i'm making money every single day right winning day losing day winning i don't know why that's there winning day losing day winning day losing day that's what i'm talking about you're not going to have consistent making 500 bucks a day thousand bucks a day whatever you think in your mind you're gonna do it's gonna look like this does that mean that you know i'm not a good trader don't have an edge no it means certain days are just weird and you know these are markets things happen news events happen you're gonna get you're gonna have drawdowns if you have the edge you follow your rules follow your risk control rules stop yourself on days you're doing poorly have that in place like we talked about you your equity curve will look like that right this guys this is sold this is trading like if you can't grasp this or accept it you're not going to make it as a trader if you think your equity curve is just going to do that you make it lucky you might do it for a week maybe a month it's not going to do it forever and you're going to have pullbacks and it means every time you have a pullback you just quit your system and go try to find another magic indicator no right you say this is the nature of the business this i guarantee this p&l looks just like a casino's p&l right just like that someone comes in and kills them someone comes in and kills them guess what then all the fish come in and give them give it right back this is what it looks like in a probability scenario when you have the edge if again you need to grasp that and accept it in your trading but you're never going to make it yeah and the most the biggest thing you got to take from that like i said is you don't want to be jumping ship every time you have a losing day losing week especially if you know you have the edge if you don't have an edge then yeah right you're like i mean not that you want to be jumping ship but you one you shouldn't be trading real money anyway do the apex do that stuff where you can trade learn come up with an edge of your on your own if you don't want to follow what i'm doing until you know it works and trade real money right but in the meantime this is why i do these webinars this is why i have my trade room to show you what i do where you can take some of the stuff that you may not like everything that i do or the areas that i look at and so on so forth and that's fine i'm not saying this you've got to trade like me forget about what you're doing what i'm saying is this stuff here is number one this is not an art this is the science if you can apply this stuff in important areas that you deem important there's your edge right or you can trade exactly like me right it doesn't matter the point is take take bits and pieces of what i do and build your own playbook i had a guy the other day tell me i was i didn't understand what you're doing on your webinar this guy in my room and i took a took a short and you were long and i didn't understand and i lost a third of my account value it's like there were so many things wrong with what he said my head almost popped off of my shoulders this is the guy that's presently in my room right that i all i do is do this rant every day right one it can't be risk and 30 on a trade let alone in a day you're going to blow out your account two you're not my room and these webinars are not to mirror my trading guys and girls it's to learn how to do this yourself you are never going to be a consistent trader if you're mirroring anybody and that includes the tom b and anybody else that you think you can put on the trade the guy i've watched a couple trade rooms especially before i started my only kind of to see like if it was bullshit part of my language and you know what they were doing i watched one the guy would like get in along and then you know he'd be like here's my target blah blah blah and everyone's like in the trade and then then he would just get out and people would be saying what just happened there why'd you get all because i just saw something in nasdaq so i got out of my it's like you never know what guys are going to do first and foremost you cannot mirror other traders right it's you've got to learn this for yourself if you want to do this for a living that's just the way to just like the p&l and everything else we're talking about that is a guarantee if you think you're going to mirror someone to make a bunch of money it's not going to happen you've got to learn to do this for yourself and that is the purpose of this in my room and everything else so again that trader was like i wanted to pull my eyelashes out i was so livid i'm like what are you talking about you're risking 30 percent of trade you're mirroring a trade you didn't even know what i was doing and you mirror and i don't want to go down that rabbit hole again i'm getting such as talking about but please learn to do this for yourself i'm not saying you have to do it exactly like i do it take bits and pieces that you like and build your own trade plan until you can do that you're not going to be consistent and you're not going to be able to do this for a living all right that's my rant right this is working here i love these rents i'm out of breath on that one i'm telling you that that one really i was like you got and this is a guy in my room too that that isn't even more insulting to me because it's like what am i teaching you every day and you're not listening anyway i forgot to put my stop in here for this which could have been disastrous this is not good trading don't do that at home see where my stop should be in the soybean trade so the atr here is 3.77 right so i'm going to go a little outside that so it should have been four cents outside here so 74.25 if you guys are saying i'm soybeans what i don't want to trade soybeans this is my best market right i don't discriminate i don't care it doesn't matter what you are trading like look at this look at this look at that soybeans number one number two natural gas the two markets i tell you guys to watch when them equities suck here's a es that's my third best which i'm shocked bc gotten gotten crushed since the war cl gotten crushed since the war everything else is pretty you know it's either you know even or slightly profitable right do not discount other markets it's all the same as long as you know the thresholds for your trading for the for that individual market again that's going to be part of the course it's part of my old course too then you know when it's a tradable area or not and it's all the same it's all the same principles it's volume drives the markets people are caught big money is playing when you know that you have the edge it's as i know a broken record i say it every webinar for three years but it's what it is that's what trading is it's not magical prices it's not magical indicators it's what the volume is doing at those prices and indicators and that's the edge somehow some way do you know do you see why i go outside in atr here so i'm still alive in this nasdaq trade too and i got out of half of my yes i'm not expecting much here right now anyway i wouldn't be surprised me if this just tortures me for another two hours right because there's just no volume coming through these markets right now guys as far as the relative volume that's when you say i'm out of here i'm going to work out i'm not going to give my money these hours i told you i'm doing better at just getting up and leaving during these hours it's obviously very hard on these webinars look look at this volume this is pathetic look at yes what was this what was this part here this is just sad it's like not even half half a normal for this time of day and this time of day sucks that's why you're getting chopped nasdaq's not horrible but all right the time guys starting here soon so there's any other questions i haven't done much trading obviously but hopefully you guys got some good lessons as usual i would hope for my rants this is holding the stop run we did do did we do the retest i never got they got within that four ticks right but i never retested and that's what i said sometimes you're waiting for a retest you missed the trade but this was i mean came within four ticks i could have been aggressive another instance i would have i didn't like reward that zone but it looks like we're getting out of that zone again but there's your atr came within four ticks gone that's the tendency all right any other questions before i hop off here yeah we've got we've got a couple and i just wanted to add to go back to this um partials and adding i didn't want to interrupt you when you were going on but um yeah i i recently reread market wizards and gary bifelt i think it was said in that have a method for staying with winners and i guess that that is the method right there you you need those month making days and if you don't add and if you don't get aggressive when you're right then you're not going to have those uh month making days so yeah that's why it's so important to kind of add to your winners and keep it going right you know that's very abstract too though it's like you always hear all these traders cut your losses short and stick with your winners well what the hell does that mean how do i know which one's going to be a big winner which one's going to be like i understand the cutting the losses short but the point is when you have this information you can control your risk and you can add as the market goes in your favor with new setups right so that is the epitome of cutting your losses short and and letting your winners run but when i hear that no one ever quantifies that what the hell does that mean let your winners run oh so i oh okay so i know this one's going to be the winner how do you know until i have to after the fact right so when you have this information this is exactly what this helps you do it helps you cut your losers short and then potentially catch winners and then add to the trade kind of like that gold trades you don't always get those moves but you get you know the point is you can still get huge moves off of these you're not always adding um but that is the epitome of cutting your losers short and adding to your winner letting your winners run by basing it off the volume and the setups and understanding what's going on with the money yeah final question here then the alex in in discord made a good point given that you're kind of more profitable in some markets than others would you ever consider just focusing on those top three markets maybe it's suggesting that what you're doing is working better somehow or you still want to keep your options open trade across well no well absolutely not because that's what smart people do dumb people keep trading markets that they suck at right like like gold i have so i was telling you guys about the apex right at so i'm doing an experiment in there because you know especially the 80% off stuff i have again i have four different accounts and i'm a couple of them i'm trading grains only so i just want to see like you know i want to see this in those accounts as well because i'm doing them from other people other people as well so the point is yeah but i don't want to pitch my whole myself into just trading soybeans right i want the options because i know this works across the board these two markets haven't worked lately since the war i understand that so when you see you're you're struggling the market just don't trade it for a while right i was off i stopped trading gold for almost two weeks and then i got back in the other day and made that big winner right so uh yeah you could but i don't want to just stare at one market right i want the option when all these other markets are firing off because i know the the it works in all markets right it just does like yeah it's some markets that works better sometimes but i could tell you over you know this is not this is short term this is six months right so it's like six months of p&l so you know over a year i'll bet you you know most of these are the same so you gotta be careful saying oh i'm not trading these anymore you know because i know these eventually will be up here when it's the weirdness stops but i don't pitch myself into one market but i am doing again a couple of those apex like i just want to just trade explicitly grains and that's what i'm doing you can do that absolutely i don't personally especially it's hard for me too because in my room and in these webinars you guys want to see you know you don't all trade soybeans you don't all trade just es so i i want to cover the gamut of of and i again i know it works no matter what futures market you're trading i know that's the same stuff regardless it's volume and traders clot and big money playing doesn't matter what market you're trading as long as you know your thresholds all right i think that's it volume is still horrendous in all these markets plus it's a terrible time of day don't get me on that rant for how much money i've got lost in this time of day between eight or between 10 and 12 central and i think that's it unless there's any other questions and like i told you i fully expected this nasdaq trade to come back because that is the nature of algos you are going to get whipsawed until the big money comes in and pushes them around then you're going to get your big move yeah i mean we've we've got a couple more questions here if you if you've got time it's uh it's up to you scott yeah just fire a couple more and then i'm i don't want to go into that time guys time either what's the other trader andrew is asking here what's the name of multiple chart platform indicating eth vwap and what did you say about seven percent volume shot in first two hours so now es chop that was a little confusing i think that's a lot of questions in the one yes a couple questions first one what's the name of multiple chart platform that that has the extending this is seara chart seara chart yeah this so very cheap very very very labor intensive so i can tell you he you will go down a rabbit hole like when i first got this it took me like three hours just to learn how to build a bar chart it's like it's that in depth that's why it's so cheap right that you get what you pay for it's very reliable it doesn't go down or anything but support's not the nicest you know you you send them a message and they act like you're a moron and you got to do everything yourself but if you're looking to cut costs which you always should be doing for things that you can find other places right you shouldn't be cutting costs like i get all these emails all the time like what i got to pay for the si indicator they're not going to pay for the rhythmic guys there's some things that you want to pay for because it's going to be worth its weight and gold there's other things where you can find alternatives what why do you think i use thinker swim i don't need to pay for a chart thinker swim you put any amount of money in there you get access to their charts why do i need to be spending $800 a month on on charting like i used to do when i was trading which again i didn't know any better back then and there were no not many options other than cqg at the time so why would you pay for charting if you can get it for free for this kind of for bar charts right those things you can cut costs right but back to this you know this is 35 bucks a month highly recommended if you're looking to cut costs that's good but you've got to do everything yourself you can google how to do stuff obviously but it's still a pain in the ass it's not just plug and play right most people like to plug and play like ninja trader you can just bring it up your charts are there boom thinker swim the same but this this particular thing that the marker profile on here is seara chart and then they have this relative volume on here i don't understand why all these other platforms so for instance this relative volume i talk about this all the time as well i apologize if i keep repeating myself this is a different type of relative line right this is showing you remember we said the other one was based on the exact five minute period this is different where it's showing you the less 60 minute time periods so of course the open every day is going to be like seven to eight times well that's normal because it's taking into consideration the overnight trade where there's no volume right that this doesn't help me gauge what is you know what i'm saying like i know if i was just looking at this like oh my god this volume is huge at the open no seven times seven eight times is normal right i don't want to be guessing at each time period hey is this normal is this not normal based on this this is what this is showing you and based on the open if you look at the seara chart again i don't know why every charting platform doesn't have this it couldn't it can't be that difficult this is showing the exact time period for the latin you can set it for whatever you want the last two days the last week mine is set for 30 days right i'll show you this quickly just to show you it's not very complicated there's a lot of volume right and then it turns yellow if it um it's over 200 percent it turns it's actually less than that or a little more than this for turning red but it shows you 50 200 you can see my days that i have a set for it's 30 days you can put this for two days for a week whatever i personally have it for 30 days but this is showing me for the last 30 days this exact time period the eight the 10 40 central time period we are not even we're like half you were half you know it wasn't half it was about 80 percent that's important for me to know i don't i don't like the think or swim relative volume because i'm guessing hey is this normal like the open and my i have to know from my experience that seven times volume that's normal based on this type of relative volume chart because it's basing it off the prior 65 minute bars which means nothing right it means nothing right now so i don't like this well i have it up here but i don't this is my prefer and you get this sincere chart as well they got a bunch of studies right and and also i use my Ludwig levels through here too right you can get these i'm into trader and again the book map get in my room you can get the beta testing for that as well but i use mine i'm going to continue to use mine here just because there's just so much on my book right other question final thoughts on old nq uh yeah just being tortured you know i just short on what the beginning of the webinar one and a half ago i am terrible so i fully expect that um i would 100 percent we're not right here right this is such an important zone even if we move up a little higher say it moves up higher steps me out and i get a short signal i'll be glad to give this shorter chance one more time this is where this was this balance this is where this whole directional conviction move started that led to this down move right very very important if we rip right through here you want to be long if this holds you want to be short and i think we'll come down to this stuff but nothing's happening right now so it's just probably just going to bounce around here it's probably going to build balance right here what you want to be careful of so say this just can we just talked about this at the beginning webinar say this builds balance over today and say tomorrow and it looks something like that well is this a is this a zone you want to be shorting if you all these traders are loaded up right here say that all these traders got short and we start to rip out of that balance area kind of like this one where we rip down no this is not an a great short in this area if you build balance right below because then you're going to have traders puking rips right through it that's a different scenario than a straight b-line move into the zone like we were talking about group see how this is different we didn't really build anything that this has gotten through here as of right now but this is another example right if you're just looking at this you're like i'm going short well you just lost my vine the volume setups the most important part told me no shorts here yeah so now i'm watching this zone in this zone but my point is there's no there's no balance right before below this zone so this would have been a good short if i got the volume set i didn't get it onto the next zone onto the next zone okay this is the most important zone we get up here you should be shorting that with both fists if you get a signal until i can push through if it pushes through then you want to be long the point is you don't we're in limbo here in nasdaq if we get through this zone you want to be long because we're coming up to this probably 1200-300-400ish sorry i'm lying to yourself i got one more final one because this is quite a good one x lucero he's asking um so sweeps taking resting liquidity versus sweeps take the take stop losses is that telling you anything does that do you create a distinction between those different types of sweeps setups um i don't have exact setup for those for say right now because i just haven't had enough time to to dive into the actual all these different sweeps but absolutely right like when you think about it if if a stop run fires off a buy stop run through this liquidity well what is that telling you just telling me there's guys puking that's different than if you see sweeps that say i'm taking all this liquidity it's not a stop run that is a different scenario so absolutely i guarantee you can come up with with edges and or trade plans based on that alone where if you see huge sweeps that aren't stop runs that means someone is buying aggressively and they don't give a crap what's in here they're taking it that's different than if it's a stop run through here that's just that's just guys puking that's not real buying it's buying but it's not initiative buying sweeps that aren't stop run is initiative buying so there's definitely a difference between the two and if you you know you can go back that's another incredible thing about bookmap you can replay me day it's like you know if you you gotta have the data right so that's another perk of my room if you remember my room you get quickly i'm plugging my room and i'm plugging it for a reason like this is and that's my golf stuff sorry um you get 400 plus of my webinars that i've done in my room since last april it's almost a year and a half of webinars here in three months whatever it is and then the other thing i offer here is so you don't have to store all this stuff in your computer you may not have it plus you may not have all the products that i'm looking at you can go to any day for the last two years basically and replay the day so you go in and replay it replay the sweeps and be and you can come up with your own you see okay what happens when they're a sweep when they'll stop no stop runs and they were large what happens in the market hold did it fail you come up with your own trade plan right that's the beauty of bookmap you can replay the days and practice you can pause it you can speed it up it's incredible if you're not doing that you're not putting enough effort into your trading because you can practice out of trade with that you don't have to be doing it live you can practice you can watch my webinars put my webinars up against replaying the day and say okay what would i have done here what it's got to here and so on and so forth as you've got to put effort into this if you think you're just bringing up a chart and throwing in orders and then being done for the day and think you're going to make it you're not going to make it they are the brightest minds on the planet trading right that's what algos are they're bright minds that came up with trade algos to to take your money well how do you think the algos survive by taking your money by taking the unprepared's money so if you want to make it in this business you have to put some effort into it if you don't want to put the effort into it you think it's like a casino or you know going to the racetrack or you know rolling dice you're going to lose overall you may get lucky for a while but you're going to lose so you got to put effort into it meaning you need to practice practice talking about practice not a game practice anybody tell me what that's from before i get off a little comedy uh that's right not a game practice come on somebody knows this yeah exactly ellen agresson one of the funniest clips the two clips you want to watch that alvar i alvar dierson clip he says it for three minutes this is the same thing reporters even start laughing and the other one is jim morah when the colts lost to play they lost a regular season game and then one of the reporters asked him about the playoffs this is actually a commercial i think too the play playoffs you're talking about playoffs not going to the playoffs we suck there's some comedy to before we go this is not comedy here i'm about to get stuffed out of this magic trade but it is what it is still long uh a couple yes i'm just waiting for a new signal this is not a good time to be initiating positions wait till noon central and then i'd be looking to trade here but i stopped out yeah it's threatened here a couple times got that on let's take one quick look at soybeans this is my only other trade right now this is working let's just take a look at a couple of targets and then hop off here i'm gonna go into that tom guy's uh time means so i will look i don't get out of vwap unless vwap is a confluent something it wasn't confluent anything there so i'll be looking at yola it's another uh 14 cents down i will get out of at least half of those if it makes it there or if i get in a posting setup i'll get out and potentially flip along all right guys out of gas hopefully that was helpful i do this every day in my room twice a day if you like it if you want to learn that's where you can learn thank you scott i'll see you next Thursday yep extremely good stuff yeah we'll call it there and and thank you everybody for attending we hope you found this valuable again please hit that like button on on youtube if you you liked what you saw um yeah we do this every every day 10 a.m eastern time so um catch us for another one soon and thank you again scott thank you guys later see you soon