 All right. Good morning traders welcome to the book mapper a book map pro trader webinar series Mastering trade management today. We have Scott Balsini and He's really good at his trade management. So Tips and tricks I've learned over the years from Scott for a trade management have really helped and I Think you guys can learn a lot as well If you haven't already Anyway, you probably know Scott's story He's been trading for over 20 years and was responsible during a certain time period 2002 to 2005 was trading about 10% of the S&P E mini volume, which is incredible and the amount of risk and money per tick is just Still still to this day still blows my mind. I don't know how he did it and nerves of steel Nonetheless, anyway, let's move on Oh, okay, okay, excellent excellent because like really I mean just like you're talking what I don't know five grand a tick or Something like that and Yeah, we'll be a caveat. It's not for It's not for kids of yours. I'm talking to myself the entire time. So anyone who's offended by swearing or Just be ready for that. But Yeah, all right. All right. So this is this is our rated. So Anyway, be let it be known So anyway, Scott's an expert scalper But he has this innate ability to quickly read the order flow and volume within the price patterns Which has served him very very well. Here's Scott's Contact information Scott Pulsini trader comm is his website. You can reach out to Scott at Scott At Scott Pulsini trader comm you also have his Twitter and his trading room here I'll put these into the chat so you guys have them and you can reach out I got to go through the disclosures and then we'll turn it right over to Scott General disclosure all book map limited materials information and presentations are for educational purposes only and should not be considered specific investment advice nor Recommendations risk disclosure trading futures equities and digital currencies Involves substantial risk of loss and is not suitable for all investors pass performance is not necessarily indicative of future results All right, Scott. Take it away. Let me present your screen here. Hold on and we can get going Or you present your screen and then I will share it Okay, we are good to go. Good morning So I'm actually it was supposed to be shorter. I mean So we're trying to show how to use this stone in here. I have not traded live off the using the book map lately I've been using these rhythmic domes for that my trading strategies So where we were experimenting here and I've been clicking in so that these are the columns I was talking about first so I got them back all up I don't like trading through the chart so you can see here I was like clicking on the chart and accidentally putting in orders So this is how I like to trade and you'll see my prior trading. This is all I always to do So, you know, if I am if I do put on trades on these, this is just sim mode So but we have these you know these trading strategies that I use and we have a I have an apex account set up to all these to keep track of the The stats, but these are only strategies aka important areas that I put on orders Looking for volume events in those specific areas. So we'll go over that as the webinar goes on but And then we'll go over the spreadsheet and how I you know How I manage my trade The what you see here is actually the zone drawing tool. That's pretty new Developer in my trade room was able to build that and it's just displaying this information on the sub chart But you'll see like as I put in orders This is basically telling me where my stops and entries and everything else You know, if you're looking at this for the first time you're probably saying like what in the hell is this? but well, it's not difficult when you know what you're looking at but I Did try it short here while I was trying to talk to Bruce Yellen Yellen was talking right now as well right before I got I don't know. She's still talking but You know as I tell my trade room every every day if you're gonna trade during Fed speak Yellen speaking Centra you're rolling the dice because one keyword out of their mouth the market kid You know no matter how good the trade looks one keyword then market rips the other way So you've got to decide if you're okay trading while these people are talking Because you are like I said rolling the dice. So anyway, I Tried to take a short off of this guy There's been a ton of by eyes. I don't use cumulive mode Bruce does and he said there's been like 12,000 by ice Oh, it's since like 730 central so you can see some of these owns are drawn So somebody's down here and then I had this little blip of sell ice that I tried to trade off of what I should have done Is just trade it off this big area But you know what we'll get into it as I don't want to do the shit of what it could as we'll put on new trades as We get new events and this is a new event actually down here was a bias Event so I was short off of this We'll go over the thesis and everything else but and then a new volume event came in and I actually got out of this On accident because I was just screwed around with this. So it took a loss on that but I'm trading Again, this is some mode so So bigger picture here, let's just take a look so These are my inflection zones aka Izzy zones that I will trade off of just one important area I'm one of the important areas that I look at to trade Right now we're actually coming back into an inflection zone. So you see this market gap down here So this this bounced right now at a pretty important area. So this was This was a balance area this broke down from a balance area And it basically bounced off the top there if this gets through this high volume node Which is basically a high volume node HVN is just the middle of a balance area where most of the trade occurs just a general area But you can judge how one when markets trade through them or Bounce off of them. It gives you an idea what what's going on. So right now, you know, this thing bump came close to that I know and it's bouncing the point is Wouldn't surprise me one bit to see it come back and retest all this activity up here But if it gets through this guy, then I'm expecting a whopper So on top of it all the way down has been by ice So somebody some entity has been buying this like crazy and it looked for a while here As you can see, I think it's the white line on here You can even see it, but there's this white line as this by ice came in Turn off this so it's not infusing people right now and market pulls So you can see all these all this by ice coming in is basically one entity And you can see it on the chart to that white line. So and then they continue to receive more here This was 2100 and then all this all this so then little cell ice came in here, but and then they just continue to buy I don't know if this is the same house as well, but Somebody in here is trying to support this market usually You know paper is They're right more than they're wrong, but they're not always right, right? So we have an actual setup called broken ice when they're wrong But the point is, you know, if someone's big enough if somebody's big enough They could just keep putting in orders until the market finally relents, right? So, you know what what I've said from day one on here And there was there was a misconception early on with all these So-called competitors with the book map or they're like, well this stuff You know, it doesn't just mean that when you see bias you just get long and I've never said you just get long If you see my bias, I said there's a tendency for this to hold because it's the big money Like I said, if they have unlimited size they could just keep putting bias to the market relents But they could be wrong as well So what we do it doesn't really matter what they're trying to accomplish We mark the area aka these zones, right? And then I have specific rules and trading these zones and When we do trade them I have specific rules and when I when I deem I'm wrong so on and so forth. So Right here basically this was again, so we're always I'm always defaulted in the most recent event So you can see more bias came in here. I'm gonna I can trade that independently There's a couple different trading strategies potentially I can trade down here first. I want to see what This is algo guys. So this is an exponential moving average ribbon that we use to help Qualify certain strategies. So this is bearish right now meaning if the the blue Exponential moving average ribbon and these are just a little time smaller time frames And then this is the the big time frames if the blues below the red It's a bearish market kind of trend out market, right? So I have specific strategies where Like these volume events in themselves are edges, right? So that's what I've said from day one because you're seeing what's going on real time with the big money And then the stop runs which is usually retail traders fuking out positions so on and so forth. So These on their own aren't edge. Then when you can apply these Volume events in important areas, then you have an extreme edge, right? And again, that's all my trading strategies are right so There's the inflection zone trade the inflections as I was just showing you there's nothing really here, but So these two trade these two strategies the bark and the lick are basically just any volume event anywhere Where it doesn't even have to be an important area And I'm willing to take it if certain conditions are hit because I know this is an inherent an edge In its own right, right? So bottom line is this is a bullish shut up off here But for barks and licks which I demand an ATR That's that blue line a retest and then confirm I wouldn't take a long Helgo guy is my filter for the barks and licks that is bearish So I'm not taking a long off of this setup. There may have been something else down here another area I could have gone along but that's already past I had to turn off because he was That was chirping here I Turned them off so that I don't know if you all are still talking or not So as far as these other areas that I look at I didn't really standing down there that I would have gone long off of so With some of the trading strategies we have or these are blood with levels. Actually, let me sure document Here's here. I don't know where to put this, you know There's no where I how I post this where I could post this Be there. Yeah, sure See well Yeah, just a copy and paste or like the share button over there in the kind of right-hand side. You'll see it Says share It's a blue upper right-hand corner share Over here. Oh, no, you go back to your document Well, yeah, well, I was just gonna I'm gonna copy the link or do I share link is what I'm saying Okay. Yeah, just I was just gonna make sure it was the right link. Anyway, just put it into the YouTube or give it to me. I'll put it into the YouTube And okay, I forgot. I'm sorry. I forgot we were even on YouTube. I was thinking we're just in discord. Sorry Yeah, and discord as well. I'll put it in struggling here guys That's what I was saying in discord. I don't where do I put where do I put this right now? What were we in this when I'm saying? Yeah, so we're supposed Um Yeah, that's fine. I'll post it just pass it to me. I'm throwing off my routine today. This is how I usually do things. Got it All right, so anyway, I did not take along off that last event. I was short stopped out of that and You can see here. So these are the important areas I look at these are market profile composites where I will trade the edges if we get a volume event So this is coming up here. I'm aware. This is pretty important area as well you have Top of this one and the bottom of this one. So if I get a volume event, I would take a pick trade So again, that's just one of my trading strategies. That's this profiles and courage is what we call it Some of these are comical names to help be memorable and You know That particular strategy, so let's take any trade that moves into a market profile composite higher low So this hasn't happened yet So what you you know as a trader you need to be aware of your areas and not be scrambling once you start to hear The volume events like where are we right? So I should already know. Okay, that's it. This gets up here I know I'm ready to take a pick if there's a volume event, right? And then there's other things up here, too You got the web and you get yellow lugs. So these are we call the lug lead with levels lugs So there's a lot of stuff up here. If I get a volume event, I'm happily gonna go short We shall see other than that. I did not take along off that volume event. So this is the thing, right? So for me from my important areas, I didn't say anything to go long down here If you for some reason had a something that you're looking at an area you deem important That's great You know, it's not for me to say what you're looking at if it's important or not that you may use in your trading What I'm saying is whatever area whatever you are looking at to demand a volume event in that area And it makes that area that much more important, right? Because this is real-time buying coming in a k8 traders placing bets Traders that are so someone someone was selling right in the big mouth full of buy ice They're wrong, right? So this is this is fuel energy and the way you have to look at it's very simplistic But it's what's going on, you know The traders that sold in here are not feeling very good as it does add and then they have to pick up their positions, right? So that leaves your moves. So that helps you kind of filter This Algorithic trade as I call it and you can see the algos in here on the heat map, right? And they're just put in put in orders and pulling them so on and so forth You know 90% of the trade 85 90% of the trade are algos Then when the big money comes in that then that's where you get the extended moves because there's you know The big money is absorbing orders so on and so forth. So my point is look for these volume events in your important areas and we have distinct rules for trading these and So again, this is about a trade management. It'd be nice to get a trade on actually there was something in crude Let's take a look at crude oil. So, you know, I'm watching I have basically 20 markets that I'm watching I understand most people don't have that type of bandwidth But I do disagree with traders that just stare at ES all day long like, you know You want especially when you have this kind of information So as long as you know the thresholds in your market and meet thresholds meaning that the amount of volume that is important tradable For that particular market then you're doing yourself a disservice if you're getting all this information You know, I'm not saying watch 20 markets, but I am saying you should probably branch out to you know Maybe two or three at least where if you get this activity you're ready to go and it's like, okay There's nothing going on. Yes, kind of like right now. I'm gonna hop over to crude I heard a volume event. You know, here's the zone jar. By the way, we'll go over all this too But this is in the document. I think Bruce shared it That's here. That's the very first thing So this is on the book map marketplace as you can see this is the basic tool But if you get this I will send you an email with the instructions for the for the pro beta So pro gives you a lot more as far as entries and this is all based on my spreadsheet, which we'll go over but If you do get that then you'll get I can I will give you access to the to the pro beta. Anyway, that's that We'll get over we'll go through all this. So, you know, the course is basically well Let's let's first see if there's anything lives and then we'll go for all the other stuff All right, so that here we got a stop run right? So this is a cell stop running crude And you know and I know most a lot of you guys want the equity stuff and if there's something goes down in there We'll hop back over there, but it's just pretty quiet right now Actually, let's take one quick look here that looks like there was a So I was long nasaic a little bit ago, but I stopped out of that I believe yeah, I stopped out of it Should not stopped out of it Anyway, I was long more. This is a new event. So this is obviously The way I judge The way I judge these events this was a buy stop run, right? So again pick it up on the sub chart here So I picked up this over here. This was 154 so NASDAQ my threshold Which I there's an amount of volume that I deem important to tradable that was 150 buy stops there, right? So The way I judge these if this market's able to push it at least an 8 a 5 minute ATR Average to range out of the area that that distinguishes whether it's a bullish or bearish setup, right? So that's that blue line on the chart if I plug this in this is the same thing So this is on the trade management stuff the way I have this trading spreadsheet up again You get this as part of my trade room or you can get it Independently if you can't get in the trade room you can subscribe to this on this website scoppelsonytrader.org So you can get this actual spreadsheet. I'm using and then the inflection zones. I was talking about but the way this is used is You plug in that the volume event zone, right? So that was 17 396 50 and 17 390 quarter, so it was a pretty narrow zone for the volatility that's going on right now Again, I don't know if yelling is still chirping or not Hopefully we'll hear and then the current ATR so you can see here. I'm using right now I'm using a the thinkorswim 5 minute ATR so you can see right here in the middle of the This is very important, right? This is telling me the current volatility in the market very very important, right? So what we talked about all the time is a lot of traders You know, they want to use these static trade static stops where you know I get all the time, you know When I'm showing this because my risk will go over this But you know my risk is going to be dependent on the size of the zone of the volatility a lot of traders will come in Here and say I want to when I trade naziq I want to risk 10 points to make 20 well That's great in theory, but that's imposing your will on the market, right? The market doesn't care that you want to risk 10 points and I can tell you in this type of Volatility the ATR is almost 30. What does that mean? It means it's rotating 30 points every five minutes You put in an order your only risk in 10 points You're just opening yourself up to randomness randomness algo chop and you can see these algos in here Don't haywire, right? So the way I trade these aka risk management is when I do enter, right? So say this goes down Let's just take a look at algo guy here for a second. See if it's bullish. I might be able to take along here. This is flipped It's a natural gas. So this is bullish for me. So I could take so you could see out This is algo guy and the blue is the smaller term exponential moving average This is a longer term that cross back up. So now my bark and lick strategies. I can go long And there may be other ones too. I just haven't had a chance to look but so for barking lick I demand a certain pattern from watching so many of these, right? So If it pushes the atr out, that's the blue line and we'll look in the spreadsheet It's going to be probably close to the same This is in beta mode. So again, when you get the pro this may be off So you got to be very careful just trading off the chart if the atr is up get into that But let's just say this is this is all accurate Right now, right? So if this market's able to push the atr away from the zone I know that's a bullish event So now I'm ready to take longs for certain strategies my barks and licks are Are alive right now for a certain pattern So then what I wait for is a retest of the of the area and this is just it's uncanny How often these markets come back to these volume events? We actually have a trade a reversion trade and that's these dotted lines Where you play for that I'm not going to go over that on these webinars because it's more of a scalp And it's very hard to keep track of because they're very fast but Just know like if you are like most Most traders want to be scalpers and it's so hard in this kind of environment I'm going to show you my old trading where I'm going to show you why I was able to scalp back in the day It's no longer valid, right? That's why I went from a million dollar scalper to couldn't make a dollar because these algos are run in the show And then in these orders are fleeting now, right? So the point is If you if you have to be a scalper That's the only way you want to trade the reversion trade is one of the best ways to scalp these markets And again, I'm not going to go over those right now, but you can learn that So I want to get back to the position trading, right? So again, this spreadsheet shows two different types of trading The top here are for my position strategies, right? This is where I entered the zone I entered the atr right and now this is telling me these prices Where I can go long or short, right? So If this this validated as in long if it touched 425 quarter Again, this is probably going to be off a little bit Just showing 430 because this atr is showing this showing a 30 atr is not 30 atr. It's like 28 So regardless, this is a bullish setup. So I already know that hit the validation point Then if it retests, that's the retest price 99.50 That's this yellow line here. And again, it's going to be off a little bit because of the atr But if it comes back here retest this zone Moves back out my entry is going to be there, right? And then the way I trade these like we just talked about you can see the algos here running people rag it So if I'm going to put on this trade I will get in there and my stop is all the way down here I can just hear people groaning like what you're risking 80 points on that trade. That's great I'm willing one the the volatility right now is telling me You know if this trade works if I end up getting long here that this can move a minimum of 80 points and probably more And then that's where you can you know, you have your longer term Targets and so on and so forth, right? So if I go along here, I'm gonna I'm looking at NQ, right? So actually I'd be going along running a red lug and that's not usually a winning proposition because these things are incredible supporters in series But say I went long here and say I'm not looking at the lug with levels and I'm like, okay I'm gonna take I'm gonna take that bark bark and laugh if it does this I don't know why that's pink. Sorry That comes back to that area moves away and it gets in here and I'm like, okay, that's my target up there I'm gonna I I know with the volatility and so on So that's you know, 17 560 So that would be 130 points away. That's almost a you know, a two-hour trade if I end up putting this on but We got some we got some gold activity too Anyway, what I'm looking for is that that that so well back to the stop So this is back to the trade management, right? So I've just from watching Literally tens of thousands of these things over the last seven seven eight years I've determined this is the best way to trade this so I don't get algored. I don't want to let the These guys this entity even right here. This is obviously one entity just flipping the orders in here or flipping the They're not actually trading. They're just putting in and pulling offers business offers They're trying to take your money, right? Don't let them take your money if I put on a trade if I am getting along here I'm forcing this to come back that the atr I'm forcing him to get through the volume event and I'm forcing him to push another atr out for me to say Uncle you win on in the next trade, right? And I know that so many you are just I just I'm not going to trade risk in any points Well, then you then you're opening yourself up to this Yeah, you may get lucky and then catch a runner and it runs away. You don't have to worry about it If you're only risk in 10 points 20 points, especially with a almost a 30 atr You are very very very likely to get whips on out of the trade So anyway, here we go. This is there. This is the pattern, right? So if this comes back It's actually and what's the great thing about the zone drawing tool it announces The calm book map bob. So he announces and always announces the sub chart stuff But now it'll tell me if like for instance There's just some some activity in natural gas here into the number So it's your the zone. It told me about the zone. It told me that retested the zone Actually, it's this one here Right, so this is a perfect example. This is into the number and this thing cell ice came in Market moved away or right back to the zone. It's it's unbelievable So that's the reversion trade again I'm not going to take those trades right now But just to show you the pattern and it doesn't matter what market you're looking at. It's it's crazy. It really is Anyway There you go Then you see I was just announced it too, right? So This is great if you're you know, you're watching other markets You just you don't have to stare at your market, you know, it's retesting this area So now I've got my conditions to potentially put on bark and lick plumps, right? So let's see if there's liquidity up here It's a little bit up here. So I'm willing to take that trade So barks are literally it's just blind at our retest confirm, right? So that's what I'm going to take care of that comes back. That's just one trading strategy It doesn't have to be in a specific area And then the lick is the same is basically a bark But my my main target is that liquidity up there, right? So those are the two longs I will take if it comes back here So you can see on here This is everything on here is what's in the spreadsheet. So back to trade management, right? Very very important that you put in that you know what you're willing to risk per trade, right? And these are very aggressive. So again, these are all under apex accounts. We'll get an apex a little later, but um, you know, I'm risking So all these apex accounts are worth $5,000. I mean they they say $150,000. They're not $150,000 accounts right there I'll just show you this right here, right? So these are all the apex This this computer sorry I'll show you this here and then Bruce you got questions you can throw them in here, right? So these are all the the strategies that I'm using for these so You can see like this is the list of So each one of these has a apex account Assigned let's just cover apex quickly here, right? So apex is just a trader funding These things are popping up all over the place, right? So There's a lot I didn't even go Just take a quick look here and go over that quickly It's a gold's ripping off the page here All right, so we'll come back here in a second. Anyway You know, if you're underfunded If you're working I say you come to my room and you know, you don't know what's going on I don't You know your learning curve is going to be pretty steep right away. It's not we're not doing anything that difficult Trust me, but when you look at the stuff you get confused. So anyway, this is a great way for you to work on your trading You have some skin in the game So because a lot of traders like oh, I can't trade sim. I don't I don't react the same way and you know I can understand that because you just like you let trades ride because it's you know, you're not losing your your car payment Right, you're like, oh, whatever if it comes back comes back With this at least you have something in the in the game, right? So for any any current discount that they have going Um, just use that and whatever it is like right now. It's 80 off of these So meaning if you do so these are all mine that I just showed you I do the 150 So it comes out to like 60 bucks to do one, right? The great the great thing about these is You know, if you get in here and you're practicing and you do well, right? So for instance, I hate how this thing rotates, right? So let's wait for the 150 there you go So the goal is to make $9,000 before you lose $5,000, right? So that's why I put that risk in there the $5,000, right? So my point is if you do well you're practicing and you make the nine grand before you lose five now you're funded, right? So you got to be careful. There's there's rules as far as and there's videos on my Um, go to twitter. It's my pin message. I did the video with apex or the webinar with apex The point is you can be profitable and this has happened to me many many times, right? So you're trying to make nine grand, right? So you get up to 8500 and then you take like a If you pull back by a grand you're out, right? So that if I pull back five grand that means I'd still be a say I was up 8500 bucks I pull back to 4,500. Well, I'm still 4,500 and I lose the account, right? So that's what makes it You know where you have to learn to really talk about risk management that makes you have to really monitor your risk, right? So the point is like If it's a real account you're not out of the you know, you're not out of the if you were using your own money You're still 4,500 bucks and these you have to really monitor the pullback, but What I'm getting at is if you you know if you do well, then now you're now you're funded, right? And now you now you have to trade your own money. Anyway, so it to me. It's a no-brainer again This is the one I put my name behind I've you've been using these guys for two and a half years So that leads me to this is because I started doing that because I was trading live My own personal money on these webinars going back to you know the very first ones I did with bruce And when I'm on webinars, I just continuously make mistakes and I was losing thousands of dollars on You know, I'm like we're doing right now I'm covering all these markets and I have an order working in naziq and I'm like, oh, here's something in gold And I come over to gold and I forget I I forget I forget I have that order I was supposed to cancel the order or whatever right and then all of a sudden now I have a position on I don't know and I look over and I'm I lost $3,000, right? I got real sick of doing that so And back back in the day until very this about a year and a year now All these were in my mind, right? So I would just be on a chart And I mean Bruce can attest to this because this is all I would do, right? We'd be looking at ES and I'd be like, okay here. Here's an inflection zone. Now. Here's a log here Here's a here's a profile on the market profile area Everything was like jumbled into one one trade right one trading chart for instance. So What I was doing so I decided to split them out For each strategy and then assign a apex to them. So this is great for tracking purposes Uh, and then I'm not also, you know Pissing away money because I'm not paying attention to stuff. So anyway, that's what this is here That was showing here So these are all these accounts, right? So you can see some of them like this one blew out Right and then the rest of these are slowly But surely inching their way up to funding, right? So This one's very close So you can see here, right? So the bottom line is every one of these will be profitable over series of trades Why because as long as I follow my risk rules first of all But because the the edge is inherent in these volume events So I don't care you're you're about to see me take potentially take that bark and lick trade and enqueue long You know if this comes back out of here, I got to get these orders set up by the way We'll go over this but This is inherently the edge. So I don't care what area I'm putting them in I know over a series of trades It will be profitable from my experience again This is you can take my word for it and if you don't even want to take my word for this what I say all the time too That's the beauty of book map too You can get this and even now the zone drawing tool again That's available when you replay the day you can go back and you can replay As long as you have the data feeds and you have almost four years of data feeds It's join my room that you can go back and watch You replay the day it'll draw the zones for you Try it out for yourself confirm it for yourself take these trades like we're talking about You know, you don't have to take my word for it that this is an edge go back and run the day say, okay Here's a volume event. Here's one of my areas. Let me see what I would and you can actually bring this up like this And you can actually put on trades, right? So don't take my word for it. Go in there and trade Let's see what's going on here. I'll click. So he has something in rustle Didn't hear this volume event. Let's see what's going on So if that comes back out of there, I'm going to take the long as I have not put my orders in yet We'll do that here in a second. I just want to see what's going on with mr. Russell So you see here this is This is it's the same stuff guys all day every day Huge bias event market moves away. Hey, look at that retested the retested the zone over and over and over So anyway, this would have been a potential short on this the barking lick, right? I can actually maybe still go shorter right now and here's the newest event. So let's check our filters You can see I could be going short here, right the blue Algo guy we call him algo guy blue exponential moving average ribbon is below the ret So that's my filter for barks and licks. So right now I should be short and you can see this is this is where this atr Is correct. That's where I should have been short and the beauty of this it tells me the position sizing everything else So this is the newest So that's back to this spreadsheet. Sorry and if guys if i'm talking fast You know, if you feel like you're drinking from a fire hose. I am trying to trade live I'm trying to go over all this so I need to get it out, right? So That's why I'm I'm talking fast, but let's just Plug this in so this original zone was this one 1983 to 1982 point two And Bruce you got there's questions throw them in but trying to get caught up here in 1982 I was on with Bruce right beforehand and that kind of threw me off of everything my brain was not in Full trade mode. So I apologize for the Scramble scramble brands when I get on here All right, so with that atr. So you can see this is a there's a 50 atr right now in In russell. So that means it's it's ranging 50 ticks every five minutes that is pretty high, right? So here's another example You're gonna put on a russell tray where your risk your risk 10 ticks or 20 ticks. Good luck You're just the volatility alone is probably gonna stop you out of the tray so anyway The prices for me to take the barks and licks are all on here for my trade management, right? Plugged in the zone plugged in and this may have been a different atr at the time, but this is what it is now So for the short it validated that was the validation price that are or lower it got down to 71 guaranteed and it got all the way down Yeah, when a hundred ticks even lower than that retested comes back Actually, I could probably put these on right now. So this is this is how I do this, right? So I put in my account size I put on my risk. That's where I was getting at like for these apex accounts I'm willing to risk 10% on a trade do not be risking 10% if you're trading your own accounts You should be risking at most 2% and we've had many many rants on these webinars about blowing out and Trading too big. So you should be risking max 2% on a trade one and a half to 2% on an individual trade And the most you should lose is five to six percent in a day of your account If you lose that you need to shut yourself off And move on to the next day and when I say shut yourself off I mean tell your trading firm shut me off if I hit this amount because Just like Mike Tyson likes to say everyone has a plan till they get punched in the mouth, right? Yeah, you have a plan. Oh, yeah, if I if I if I had 6% of my account, I'm done for the day Yeah, most people especially if you're a trader, you're very competitive. It's very hard to just say, okay Okay, guys. Yeah, you win today. I'll be back tomorrow. You're like screw that. I'm trading. I'm gonna throw it in another thousand I'm gonna risk another thousand bucks. This is ridiculous, right? You they call it going on tilt and you guys If you've heard any of my webinars, you've heard my stories of going on tilt and losing You know $800,000 two different times a month apart in 2004 That'll leave me here. Well, let's put this on first and I'll show you a little my trading bruce. Are any questions? Uh, yeah Oh, you're you're I couldn't hear it building Yeah, I I I know it's it's coming. It's coming. I know it is coming All right, let me put these orders in first. So I should have been I should have been short And so this is back to the trade management. I know I'm all over the place guys But I'm trying to cover all the stuff, right? So with this risk I'm risking $500 on a trade, right with this risk if I were to trade the regular Contract I can put on 0.81. Obviously you can't put on 0.81. So trade micros There's nothing wrong with trading micros because even if I could trade one It's all or nothing. I want to be able to piece out an important areas as the market It will go into the trading zone document as the market makes money available to me, right? So I have important areas where I'll piece out not of all of them But when it has trade micros and then you can get out of two and still have some on you It's not all or nothing. So anyway, if this comes back, I'm actually going to round up So I'm going to put on nine and I'm going to short at 1976.4 Which is basically Authentic I should already been filled Let me put these up right now If it comes back So I'm not going to just jump in right here because I just feel like if it rips up I got away with something by not getting filled, but it's already right here. So I'm going to put this on So that's easy One second guys. Actually you want me trading off the chart, right Bruce? Let's just trade off the chart here. I'm a trade regular silas This would be like the old days where I was risking thousands of dollars. We'll I'll show you that here shortly. So if this comes back to I see I don't have to let's do this real quick. I just need these because I don't want to trade off the chart Let's add these default columns Get rid of that All right, so if this comes back, I'm going to take what do we see at 1976.4? Right there So it's a sell I'm going to stop into that trade short. I'm about to get filled right now right And we're putting them where there comes to all of them here Of course, I missed the fill on both of them. All right, at least I got that one. All right, so now I'm filled. So now what? well, normally Those other accounts do so everything short rustle mr. Russell Let me just take one little peek at nasdaq before I will make sure I'm not missing the trade here All right, so this remember I was going to go along here But what happened? So I got the ATR above. That's the blue line. So that that is a Potentially bullish setup for me. This is why I wait for this pattern I never took the long because it never came back and I avoided right now potential loss So what happened now? It got down and that it confirmed as a bearish setup It already confirmed as bullish. I don't this this particular trading setup is off the table for me And you can see by the way where this bounced right in that prior amount I technically can take this one. We'll go over this if this comes back Right because that did move the ATR that came back and that is not Invalidated along on this one, but this one is invalidated for a long. Why? Because this pushed an ATR out of the zone. So there was no trade for me off of this event Like I said, there's And I want to confuse people but because we usually like I say we want to default to the most recent event Obviously, because that's what's happening right now. There is a way I could go along barking licks off of that guy So we'll come back here We'll know very sure. I'll know by the way Russell's trading. It was coming back up there All right. So anyway, this was the zone I put in right so And I missed getting in earlier, right? I should have been in when it did that and then it came back and now I'm in off of that That's for that zone that yellow line. That's my entry zone entry. So now my stop's going to go Up here, but what I can do because this is the newest event I can trail my stop to that. It's not that big of a difference now But it is a big difference if the market starts rolling on my favor and say a new event comes in here I could trail my stop to that new event. So now I'm not risking all the way up to here Now I'm risking over here. So what we'll see that comes in but right now. Here's my stop I'm just so not used to trading on this anymore, but we'll put that in there. There you go All right. So if that comes back, that's where I'm stopping out I'm forcing this market if I'm going to be wrong on this trade To come back I got felled there. It's going to come back. It needs to come back full atr get through this these volume events And then move an atr out More than atr. We do 115 percent of an atr. Then I see It's great The whole idea guys if you have an edge that that's the beauty of this You don't have to question whether well you can question whatever you want But like I said run run the data feed and go back and test these out yourself the edge You don't have to question whether you have an edge or not, right? That's where most traders struggle the most because they'll they'll start trading something They'll see something works for a week or something They'll start trading it and then they take a couple days of losses and then they lose faith in it like And they don't believe in it, right? So with with this stuff with these volume events, this is the best edge I've ever seen from trading millions and I used to average and I'm going to show you guys this here in a couple minutes Used to average and you're going to see why I average. I used to average over a million contracts traded a month I used to average 50,000 contracts a day And back then the s the s was only trading 500 grand in a day I was 10 of that every single day. That's how active I was Right. I forgot why I got on that tangent. Um Because we're going to hear it soon What'd you say we're going to hear it soon? Well, yeah careful of my show this real quick Hey guys, I'm telling you if you have a If you don't like swearing don't watch this viewer discretion is advised Yeah, so hopefully this works. I was messing with it yesterday Come on There it is. All right all right, so this is This is what I so this is guys. I'm trying to explain to you why This is simpler you make you're trading the better you're going to do, right? So all I did back then was trade off of that. I had nothing else up. I didn't have a chart up I had nothing but order flow, right? So if I can make 10 15 million dollars in a total of three or four years just trading off of this It doesn't get much simpler is what I'm saying. I'm trust me. I'm not bragging You know, that's what have you done for me lately in this business, right? That was literally this is 2003 that I'm showing you, right? my point is It doesn't get simpler than then trading off the dome, right? So what we're doing with these maim events we're keeping things very simple and what's most important, right? buying coming in And and having rules risk rules for trading them and that's it that you don't have to make it more complicated, right? And then we have specific areas that we look at for these events. That's it So anyway, let's go ahead and let's Again, I don't One it's a little embarrassing, right because when you started hearing me I sound literally like a two-year-old child, right? But That being said, so there was a joke back then that people would be walking back So I got my own office once I started killing it, right? Everyone else had to like team up with traders I had my own office and there's It used to be people be walking past my office and you're gonna see why and they go in my and the and the owner's Owner's office to say who is pulsini talking to in there and he's like, oh, he's talking to his imaginary friend, right? So all I would do is talk one. There's a guy manipulating you guys are gonna be able to see it because I'm bitching about the entire time But I I have to talk and that's why I loved educating and doing webinars because I'm able to talk and not If I keep it in my head's gonna pop off, right? Especially when you're risking tens of thousands of dollars in every trade as you're gonna see here, right? So that's why I talk so much So here's another thing before I even start this. This is what I used to do So once I stopped looking at my p&l. So first of all, this is how it used to look, right? These are who I was trading against you can't see it that clearly But I can tell you my nemesis and you can look it up He was 990. I think at the time he was 910 910 k or something that all this is the house number, right? So I would go head to head with this guy every single day. Yeah And then I would also know so say I'm screw. It's like a poker game, right? Let's just start playing this and I'll go over what I was doing See And it sound chops on and off. So it's good. So like right there at 100 on right? That's no big deal. Let's uh The right here I add so you can see the games. I was playing here, right? Let's let's just play this So this is lots guys. This is right now. I have 300 260 on right I'm long 260 See what's going on here. So this is this is the game Looks guys. I'm telling you Apologies in advance if you do not like swearing Remember I was sitting by myself in an office as a young punk doing this stuff. So anyway This is the game I would play so This is what I'm trying to get at with what I'm trying to teach you guys The games that are going on here are basically the same. It's just algos doing it to you now, right? So you're gonna see I was hated throughout the the trading street or say like People hating people hating me in my own office. There's a story where I was walking into the bathroom And I heard this guy swearing at a screen f you pulsating you I'm like I opened his door. I'm like what what's the problem here? I'm like, why are you yelling at me and going to the bathroom? He's like, oh, sorry I thought that was you in the market, right? So I was hated. So the way I hate these algos that are taking everybody's money That was me. So the point is I know what's going on. I have a very good idea What's going on because I used to do it to people right and that's what why You know people come on my trade room and pay to learn from me because of all the experience I have quit this with this volume right and and trading the volume I just want to see what this Russell's doing real quick Before we get into that Throw the questions at me first, Bruce. And then we'll because I don't want to jump into that and then there's no questions. So Oh, I'm at me if you will. Okay. All right, so um See trader boy is uh asking about your room. Uh, and uh Your atr with the atr strategy be viable strategy starting out. Uh, he has um a number of other strategies But uh, he's looking at the version. Yeah Yeah, yeah, so that that's this part of the spreadsheet. We didn't want to get down to that But yeah, that's more of a scalper scalper scalper type trade This is more of a these are position trades where you're going for bigger moves But yeah, that's all taught in my room. I go over the stuff every day You know, I don't we're actually building out the atr strategy the reversion because it's just such a quick trade Again, I can't just keep up with it on the webinars and stuff. So we've teamed up with the firm So the same developer who I'm nominating for the trading hall of fame yoan He's the one who built this stuff. He is working with the trading firm And we're going to have these atr trades automatically firing off So it doesn't mean that's going to be available for you guys for the automation But what we will have is exact stats. So we'll say like so for instance We're doing the one the two and the three atr like this is the one atr that just works on and so forth We're going to know exactly. Hey, what's the sweet spot for each market so on and so forth? So but yeah, you can learn you'll learn all this stuff in my trade room Okay, okay. Yeah trader boy is also looking forward to a verbal lashing So there's been quite a few in my room lately I've been letting traders have it guys. So this is You know most of the guy I got into this yesterday So one of the top traders in my room is his moniker's mouthwash, right? And he was not a top trader not very long ago, right? And he is probably gotten the most verbal lashings out of anybody And when I give a verbal lashing one, it's this is not you don't come in my room and think it's a Rah rah participation room where I give you a trophy for participation It's a if you post something that I that I want if it's against our rules Our trading rules what we're trying to do I'm going to let you know and if you put something that's ridiculous that I that I know does not work I'm going to let you know, right and it's going to be a little embarrassing because I call you out But that's the point Right. It's to make you uncomfortable. So you remember the situation. So you stop doing stupid crap Is the whole idea but we call them verbal lashings. They're part funny. They're part serious But you know if you come in my room and you're you're doing something wrong I'm going to let you know and I'm going to let you have it the the analogy I like I use whether you like trump or not, right? It's With his tweeting, right? So many people are so offended by what he says and his tweeting It's like do you want to be offended by the tweeting or do you want a great country? Same with me, right? Do you want to be offended or hurt by my verbal lashings or do you want to become a better trader? So that's the way it is my room is not politically correct. I'm going to tell you like it is I'm me what you see is what you get and you're going to hear Literally when we start playing this they're like and it's embarrassing with all the swearing and stuff but I am the same person back then 20 plus years ago as I am today. So what you see is what you get with me But yeah, I'll give you some verbal lashings. I'm sure but you got to be in there for a while too I just don't start yelling at you if you don't know what you're doing You got to be in there some a period of time and then then I'll let you know So let's see just a couple more questions. Um, the Question on the fed data, uh, for instance, um Does that change anything in your analysis and setup relationship to a volume event? As it's coming out, uh, well Yeah, well, is there something coming out here? I mean if you so I mean, you're just Regardless of the news or not, you're still just looking for the volume event. You're yeah Yeah, but no, I think just this is what he's referring to right. So you have access to this as well So this is the squat channel here. This is what he's referring to. I'm pretty sure Coming out here in one minute minute and a half, right So Yeah, this is just I'm I'm basically trading a new a number, right? So All bets are off these these volume events are the most important thing I've ever seen in my trading career 25 plus years, right? But This number comes out. I'm see this liquidity starting to pull a little bit too It's like I'm risking this to rip off the page because there's new information hitting the market Same when the fed guys are talking same earlier with yelling talking, right? You have to decide as a trader. Are you willing to hold this trade through the number? I have the trade on if this rips up and stops me out It won't be surprised one bit So you have to decide most of the stuff we're doing is black and white right with the risk and everything else That's not for me to say if you're willing to hold it Hold the trade into the number into this number, right? If this rips up I take my medicine Or you can just get out and then put it back on after the number, right? There's there's Yes, that it can definitely these things are worth their weight gold the most important thing I've ever seen But all bets are off if this number comes out in this bullish, I'm going to get stopped out of the trade I'm I'm willing to put the risk that on this particular trade around the webinar I'm not gonna I'm in the trade, but yeah, absolutely You want to pay attention to numbers and fed guys that talk 25 times a day that save the market every time the market's getting crushed You get this impromptu fed guy and then the market rips. Yes rips like 50 points. It happens if not stop It's trading guys. These are markets. You've got to be you've got to accept that that is it happened and does happen Okay, all right I didn't do anything with gold Try to get over there, but just take a quick look Uh, next questions. You got it. Um, see here. This was uh Sorry Bruce, go ahead. Uh, it's pretty much it. I mean, this is a double Sorry No, go ahead. I keep talking. I just keep talking over. So this was a nizzy real quick It was real close real close. Guys. These are areas. They're not exact prices So you get these as part of my trade room too or you can get them on that subscription site scouples senior trader or Volume event at important area, right? So I if I was watching I heard it go off. I just didn't get over here Here you go. This is a double whammy. What's a double whammy? That leads me into this stuff If this is part of my course and what this is the foundation of my trading That's not the right one Let me pull this Uh Right here Right. So this is my course you can get it through my my website or you can get it on the bookmark marketplace This is the new one. This has all the information that you need. It's updated, right? We as a trader And you're gonna see here this type of trading. We'll play it a little bit Does not work anymore Right the scalping you can see behind my p&l there and bringing it up and back and forth so You have to evolve maybe we'll start it there. I might not be swearing there Um, you have to evolve. So my original sci indicator course that's on my site And just I just want to get a caveat here, right because I had some guy the other day But like oh, I didn't know this was the the old one. It clearly says here guys So I made it half price. This one was done right here. This is the first one 2020 I cut it in half for those of you that are trying to save some money if you're just starting out whatever This gives you the basic information, but I we don't have anything and even even says right here If you buy it, it says this is the original sci indicator course made in 2020 There has been a new course released with all a lot of new information Yes, this is still the same. I'm doing the same stuff now as I did then as far as finding these volume events and And this and the setups, right? But just know That things have we've added things and things that are making us better trade making me a better trader, right? So this goes over everything the bookmap settings the thresholds for each product The sub chart the settings for the on-chart the sweeps And then how to draw the zones with the zone drawer You don't really need that anymore But you still need it to be able to adjust the stuff if they're coming in or they're not threshold They're combining that and you probably know what I'm talking about but I showed you how to draw the zones And these are my setups Every one of these is in the original course except for that one. We added that one, right? So these are specific things I look for In my important areas. So what just happened here in gold was a double whammy. Whoops. Double whammy. What's a double whammy? it is Retail trader pukes Right, that's usually not aggressive initiative buying. It's retail traders puking into the waiting hands of sellice right there Perfect double whammy in an important zone. Well, look at that I can't believe that thing ripped out of there, right? So and and it's really surprising. It's coming back not So the point is this is why I'm not going to trade this right now, but that's what we're doing We're looking for volume events and important areas. Sorry Bruce. Good Uh, no, I think um, we're pretty caught up here. Um just uh See a clan is asking about settings on your stops and icebergs for es and rty, but we don't do that Uh, it's just takes too long you get requests for everything. So uh, you can reach out to scott individually for that or get his course So it's all part of the course. We go over it in the room You know, do you get all that information if you needed what you do to try to figure out what's important in these markets? So Um, so I'm still short this I hold it through the number, you know, again, this could just rip off So this leads me to this rant that I give every week So if you come in the room by joke It's not really a joke You should have this tattoo into your forehead or your thigh like a real tattoo If not, if you can't do that if you actually have a family and a social life You can't put tattoos on your forehead Then you should be reading this every single morning until you can literally recite it in your sleep, right? So this is Straight out of trading the zone. I've added my own stuff here But this is straight out of trading zone get it by mark douglas probably the best book ever written on trading Right as far as like understanding Why you do what you do what how trading is opposite of human Reaction and emotion. That's why it's so hard, right? So the point is I objectively identify my edges That's my these are how I Identify my edge. I don't know if I've mentioned that about 4 000 times this webinar alone I'd pre-define my risk, right just outside of an atr for both entries and stops. We talked about that I completely accept the risk or I'm willing to let go of the trade Trading the correct size does sound familiar. Just talked about that, right? I act on my edges without reservation reservation or hesitation. This is where I would say this is the number one reason That traders don't make it, right? Say this saying you got in the and and also guys, this is for educational purposes only it's not to mirror my trade So if you've got short this rustle One you get an F or just putting on a trade not knowing what you're doing, right? If you know what you're doing fine, you would it like trade traders in my trade room Um, and actually I was talking about one if we always talking about what won't probably get in that. Um Oh, yeah about the verbal lashings now. He's like one of the top traders now But anyway, if you got short this you you're probably short this if you if you're following the rules that we're using the trigger, right? point is This is not meant for you guys to be mirroring trades nor is my trade room, right? So you get so many people that want to go in trade rooms that want everything done for them buy here sell here What why would you want that? Why would you not want to do this for yourself, right? You're never going to be successful if you're mirroring trying to mirror someone else's trading You don't know how their mind's working. You don't know when they're going to get out or get in I mean, this is showing you for me, but What we're doing, but you still you still want to know what you're doing So my trade room is not to mirror my trades. It is to understand and do this for yourself um So anyway, but what I was getting at is Traders will say this is a loser, right? So you say you got on this trade with me, which you shouldn't have or unless you know what you're doing And you get stopped out and then I say I put in another one before the end of the webinar and that gets stopped out Well, then then you get another setup. So you get the s you got this going. You're like, yeah, here's my zones Here's my sunshade. I'm ready to go. Oh my god. I just lost four trades in a row Oh, here's a setup. Sure. Yeah, I'm not going to take that one That's exactly where you make the mistake if you have the edge and this is my point If you have an edge, you don't have to question if this is an edge if you're going to take my word for it Or you can plan back yourself like I said If you want to take my word for it, it's the best edge I've ever seen So you just keep taking the damn trade because over a series of trades and that's why I said to you guys All these are going to be all These will all be profitable I've over a long series of trade because I know I have the edge, right? So if you haven't you just keep putting it on you don't say well, this one doesn't feel right This one feels great. It's if you have your parameters a k your risk That's the whole that's the whole theme of this webinar, right? Is your risk You have your areas you plug this stuff in and you put the trade on like a casino, right? Talk about it all the time. It's the best analogy that can ever be made trading like casino Right here, right Object to the other side of the exercise so hold on Scott. I think it looks like the screen that's frozen here Yeah, try Try this again Just a moment. Maybe try go go. I'm still looking at the rustle Switch to a different screen and come back. Just try this one more time. We'll try on this original one first Okay, so now I see trading in the zone. Yeah Okay, okay, great All good. Sorry about that. Good. I think some of my children was telling me that but All right So what I would get again here is, you know, you're just you want to trade This is straight out of this book learning to trade an edge like a casino So when a casino is dealing cards or letting them people roll dice or whatever They're they know some people are going to win right and they but they know over a long run You know, they may have a a stretch of days where they're they're down millions of dollars Do they just close up shop and close the casino and say i'm done or Selectively let people play a certain game and then other ones. They don't they close down those game No, they let it all run because they know over a series of play Aka trades, they're gonna be a winner because it's math. It's an edge. So that's the point right so I'm gonna try to limit this this rant, but This is so important. This is the most important right and the five truths and anything can happen You didn't know or do you know I got that It's gonna happen next order make money. You don't know what's gonna happen All you know is what you're seeing Real time and you have your rules for trading it and you put the trade on that's it and then you let it work You you sit here in most days when nothing's going on I like right now you get tortured to death by all these algos just playing games with you Again, this comes up and stops me out Onto the next trade right I I don't I don't sweat it as as they say right? It's like, okay That that one's a loser Next one could be a winner next one could be a loser next five. It can be a loser if you have an edge You just keep putting the trade on anything else Bruce No, we're all we're all caught up Okay, so here we go right here again If you guys don't want to hear swearing this is then mute your computer because I'm sure I'm swearing here um, so long 419 So this leads me when I was trying to tell you here This is the counterparties that I was trading in so every time I put a trade on I could see the exact house Again, it's kind of blurry. I could see who I was trading with so most days I was going head to head with this guy from 990 again google it You can read all about it. He was the most hated trader on the street because he was I didn't want to get into it, but he was just not a like trader um, but I can see so if I would jump up and buy 400 I can see hey, that's 9 10 l or k whatever the hell was back then right? I so I know from trading against him so often all day every day basically How many you can put on so say I had him load them up I could put up to 3000 on I have him loaded up and then I would try if I had you know Some bullets left and I would keep trying to push it until he puke and he would do the same with me Where I would be like, uh, oh something's up say I jump up in my 419 and I look over here I look over here and it's houses that I've never seen or I know Merrill Lynch What was gold goldman? I think was 660 Um, I can't remember all that 714 was fee mat So the point is if I would jump up and I look over here and I'd be like, uh, yeah, I don't know that house I better not be screwing around here. Right. It's not a local They will call the the guy like, you know from the other trading firm They call those locals those are guys like in the old in the pit days All the locals standing around taking the brokers orders and in playing games It's the same stuff that was in here if I would run into a house that I didn't know I'd be like, okay beware aka. What is that? The big money that's this right? So that would be this stuff So you're screwing around I'd be in here scalping around all of a sudden I'd be selling something I'd be like, oh, uh, who is this? I've never heard of it. Oh wait, they just took 3 000 my orders I better get the hell out of this trade This is what this is showing you this is showing you the icebergs a.k.a The big money they have to hide their orders. They cannot flash So they bought 13 000 contracts according to Bruce again I don't have that I'm not using the CBD or the sum method. I'm using the spikes That's how I trade them because that enables me to draw these areas and trade off of them But the point is they they absorb 13 000 if they if they were to put 13 000 in the order book If they even put a thousand look at the order book now They'll look at this order book right now 100 100 140 140 Versus what it used to look like and this isn't even I'll show you another video where it's like thousands up Actually, this wasn't too bad right and this was still Bigger size in the order book I'll show you another video where it's thousands up So this is what enabled enabled me at the time to be a scalper. I get long 400 and I turn around I look below me I'd be like, okay, there's like two two three thousand below me If I need to get out I can get out nowadays You look even if the size was in there the market comes down to it and everything pulls and it's like a bunch of 10 lots Or something a bunch of 100 lots and then I gotta I gotta pay down You know 10 ticks to get the hell out of my trade. That's why the scalping stopped working so What I was getting at here We'll finally play this What was I getting? Oh, so that's the point of icebergs, right? So if you're seeing icebergs, it's the big money You can't put big orders In the actual dome depth of market order book. They have to all they have to do is show up a certain percentage And I think it's 10 percent, right? So say this person had You know, I think there's a 700 Well, all they got a really they really got to put in the order book is a 70 lot And then as it gets once it gets traded into then that the rest of this populates and there's actually 630 behind it, right? So that's what I'm saying is I would be screwing around and I'd run into something like this back then and I I think they had icebergs back then or they started just started to and I'd be like, uh, that's big money I have to get tell all this straight. I don't want to screw around here See what I'm saying, but we get to see you get to see this information and my theory To get us just a theory So this this mbo data that the cme has offered That the rhythmic as far as I know there might be one other data provider now The only person that shows this enhanced data What I think was going on back in like 2015 to 17 The retail trader was like dead like there it was basically sharky shark in here. It was big money versus big money I think again, just my opinion could be completely wrong That the cme decided to throw the retail trader on and say, okay We'll let you see this information if you guys get back in the game right because the big money they want They're taking your money, right? They they're not going to do well if they're just going against other algos They're going to do well the you know the retail trader is in here and I'm the retail trader nowadays too I'm a much informed retail trader, but most of them are not so they're in here to take your money Right, so I think this was let's throw them a bone. Let them see what's going on a little bit in here But again, this is the most important information that you can trade off of in my opinion, especially in important areas So let's go ahead and watch a little bit and answer questions first. Let me know again cover your ear muffs If you uh, don't like swearing and I apologize for the immaturity of this, but here we go It's cutting in and out too, which is good You can see me just flipping now. I got 500 on short So I'm I'm bitching about right here. I know what I'm bitching about is the number All right, so I'm like, I wonder if they got that and went I still bitch about the same thing today Ask my trade room. I wonder if they got the information before it was released, right? See a little more here You can see like right now. I'm trying to get this night. I Barely make it out, but I think it's 9 10 out. No, maybe not So I had a thing too. So you wouldn't cross your own orders, right? So You can see like my offers are in here and I'll have like like right here. Here's an offer Right, but you can check a thing. This is trading technologies and this they're still around you if I So I'm 300. I think that's 300 of these 700 Well, I would go up if I if I even try to buy any of them it would cancel my order I mean in milliseconds where I wouldn't cross my own orders, right? Because that's illegal and so you would have a check where you don't cross your own orders So it looks like I'm trading into myself, but I'm really not Let's watch a little more of this Question You see I'm long and I just I'm just putting in offers trying to get the hell out of the long now See now today on this day, I'm getting killed. I just said I was down 9 grand actually that wasn't getting killed back then but This this is great just to see how active I was now you can see how I traded a million contracts a month There you go No comments bruce. I thought you'd be commenting on this No, no, no, it's uh, it's it's interesting. It's really interesting to watch You can see like I was just in and out all day long flipping flipping flipping flipping Try to find one other I think there's one one of these in here It's pretty good that I didn't swear that much there. I'm proud of myself Um, let's see here. I just want to show you a video where there was like thousands up That's I don't know if any of these have them. This one might not I think 2000 let's just take a look here Any questions on that fire away. There's not there's not much quest. I mean it's like I told you guys it's nothing like Ridiculously exciting. It's just watching me flip orders But you can at least see what I used to do right and you can see that it all stopped working So this day I was actually making money This might be the same day. I have no idea. This was 20 years ago, but Just trying to find where I had some size on So here So you just see what I did there so I bought I bought the next tick. I'm long 325. I bought the next tick and I started dinging this order to see if it was If it was the the jackass that I used to trade it against or if it was big money Or if it was a house, I didn't know so I would do that all day long I would just ding with one loss to and it would show me who it was Right, so it was like playing a poker game and there wasn't only one local in here. There were other locals too But I would get I would be like, okay Who is this is this nine the 990 guy I was trading against Okay, I'm gonna swipe those orders from them if I ding it and I see it's a big house And I'm like, okay, I better back off here and get the hell out of this trade So I was doing this in literally flashes. I mean, it's still amazing to me how quick my because I process things very quickly, obviously I'm even looking at the p&l I'm trying to catch myself to see what my p&l was I look at it so quick It's like how the hell did I even see what my p&l was that fast? So you'll see it but this is the other thing I was getting at too when I finally took off as a trader And I tell you this all the time I took off the targeting a computer So if you Star Wars nerds that's when he turned off the targeting computer and blew up the Death Star The minute I stopped staring at my p&l watching it up tick down take tens of thousands of dollars every trade That's where I took off. So I would just be in there trading trading Then I want to pull this up with like, you know, two hours into it I'd be up like 120 grand or whatever I back all that better than I thought right Just watch a little bit long. Let's see what happens here. I'm interested to see see how I'm tagging that to see who it is I'm like, so you just see what I did there. I tagged that order and I'm like, uh, yeah I probably don't want to probably want to get out of somebody. So I pulled my bid. I've never had a bid working right there I pulled it Right. So this actually the size isn't even that big right here and you can see out of this 1200 lot I think I'm 500 of them. Let's just watch a couple more minutes of this a couple more seconds of this Again, it's not that exciting But yeah, you can see what I used to do guys That's about it. So here I want to see if I look at my P&L. This is our glory days Yes or not I must have been having a good day because I wasn't looking at it All right, so that's it. That's what I used to do guys. So that's why I have such an understanding of order flow in what guys are doing and You know when the big money is loaded up because when I was loaded up with a thousand or two thousand I know what I used to do and hold my breath and everything else. So there you go Any questions on that Bruce? Don't see any and I think It's a little little cryptic to to see maybe Another time like a little bit better explanation on exactly what you're doing But that helped though your explanation Because otherwise we I wouldn't have gotten it. I was like I I can barely kind of follow what you're doing And I It was it was more of a feel like it was just a feel for order flow Right, I can just feel when orders were coming in and when the when they were real or where they're gonna pull And that's all I was doing all day every day, right? And again, it does the whole point of that is it doesn't get any simpler than trading straight off of this thing Right the dome. Yeah. Yeah, it's really interesting. I mean you you see it with the algos doing it too I mean like today like they're they're just like you were doing just testing testing testing And then seeing and then like and then and then letting it run And then testing testing testing But anyway, yeah, it's same is like you say the same games again and again just You know a different speed and different different players Right, it's just now it's all it's all automated, right? So they're not doing it hand per se and if someone's still doing this by hand Congrats because I as you can see I was one of the fastest on the planet back then And I was definitely one of the biggest traders as far as volume every day That's why I keep telling people right these these traders that Wanted want to try to scalp and and and think they can risk two ticks to make four and over and over and over Guys, I like making 15 million dollars, right? I like that if if it was still possible. Don't you think I would still be trading that way? Right, it's not it's you are wasting your time if you're trying to to trade like this with these I was one of the fastest in the world. I'm not as fast as a computer, right? So that's why I went from multi-millionaire to that because I could not Click as fast as a computer can so stop wasting your time trying to trade the dome and look at the orders In the order book. I don't even look at this stuff anymore. I look at the I mean That's the great another great thing about book map. You can see what's relatively bigger or not by the heat map This is just showing what's in the order book here, right? I don't even look at the stuff anymore. It's a waste of time I look for my volume events and I have rules for trading them speaking of which there is a gold stop a Puke by the way that dumb and dumber. So if I would have been shorter here, what would I be doing right now? All right, so I missed completely missed this trade. This is the dumb and dumber one of my six Sting setups. I'd be short and then I would trade my trail my stop now to that Right and now there's a way potential. We can go along here. Let's see what this is. See if this is an important area Seeing a crude trade Uh, this is technically an Izzy, right? So the market moved out back in Here's your volume event and that's right at the top of that puppy So I will take this Izzy long. That's just one trading strategy. That's this Inflection zone trade usually an aggressive entry meaning the first move out We're not waiting for the retest like retest confirmed like we do on the bark and the lick that I talked about earlier So let's just one again if you get this drawing tool Don't trade off the chart unless you know your atr is correct So this you can see this atr right here show me saying it's 52.5 or 5.25 The real atr is 5.01. So it's not that far off, but it's not perfect So these entries and exit areas are not going to be the same. I got to plug this in the spreadsheet, right? So So this zone is a 341 is the top bottoms 23 38.2. So let's put that in 23 41.9 So we go to the spreadsheet 341 This is all back to the risk management stuff. I put this in it's going to tell me how much I can risk Tell me where my stop is where I enter And then I put on the trade potentially 23 38.2 Very atr what did I say? So it just dropped actually so now it's 40 40 4.76 to just tell me it's rotating about 47 ticks every five minutes very very very important information I'm adjusting to volatility and volume real-time volume events. All right So if I go long this I could put I again in a 23 47.4 or less to digit 74 I could put on four contracts with this kind of risk, right? This is showing me 79. So this is off a little bit again I'm going to take four is he longs And I'm going to trade this one double size I'm going to trade this double size because it aligns with my thesis. So what does that mean? So the way I trade I'm a day trader. I'll trade Longs and shorts all day long guys like you saw me flipping flipping the order book but if a market conforms Meaning if I'm bullish this market and I am right now based on what right now it could change This is a balanced breakout All it did is pull back to the top of this. So that's bullish in this market It's already been bullish as anyone that's traded at notes, right? So I'm willing to my thesis is this is long if this balance area were to be invalid Fail breakout, which one of this is one of the best trades out there Meaning if it does this this it gets through this Well, then I would change my two and I'd trade double size shorts But for right now, this is still bullish. This is not even though this is pulled back here This is a selling tail. That's not very bullish But point is until it violates the high volume note of that balance area I'm I'm my thesis is long. Does that mean I just jump in along? No Then I wait for my volume event. So I'm willing to take this is easy trade now And if it confirms as a bullish setup, I'm going to take it double size because the volume event something That's happening in real time again. I'm just outlining it on this chart. It's this Volume event is bullish my thesis is bullish. I take it double size And then I'm in and then my stop goes down here Right. So again the spreadsheet to this heat map the drawing tool is supposed to show you So this is I'm out at 23 if I get filled on this again, don't mirror my trades learn to do this for yourself The actual exit based on the real ATR is 27. So it's off a little bit right now And that's all I do all day long guys I'm waiting for I do not trade in these areas. We didn't even get into the Ludwig level yet The second most powerful thing I've ever seen Right. I don't even Trade and I already know how ridiculously powerful these things are as far as support and resistance She calls them big red big blue and then you got the baby lugs we call them, right? So I won't even trade a bounce off the blue lug unless I get a volume event I just I and I know a part. I know how powerful market profile composites are I don't put on a trade unless I get a bear event for instance. I need a bearish event right here. So That's what I'm trying to explain to you guys is If you are going to trade and you don't have this information Then you just don't have all the information, right? I don't care how great of a trader you are You can be 10 times better if you understand how to read this In your important areas. So that's I said the same thing every day all day. Any other questions for us? No, I think we're we're caught up So we got an auction too those have been having an impact on the markets too So I'm holding that Russell short into that too. So again, you know the trade sucks too. So another rule of thumb Basically between this time of day 10 15 10 30 to 12 30 I've lost this is this is specific, but it's 10 30 obviously essential Millions and millions of dollars trading between this time period Why because this is when New York the big money goes to lunch then Chicago follows And then the Algos just start running your ragged, right? So if you are and we didn't we didn't experiment with my room like two or three different traders showed their P&L They're on the trader sink by the way, that's another thing. So you get discounts to all this stuff I'm like that's that document, right? But this is trader sink. You should be entering in So so many traders are taking off we've been using this they So this for some reason I don't have my thing on here if you try it Then you get that you get a discount on it on it as well. I don't know why they don't have it on here but Anyway, this will tell you everything you need to know about your trading So a couple traders brought up there because all I would say is don't trade So every product that I've traded it looks like this, right? You'll see like eight o'clock hour nine o'clock. This is positive, right? And then you would see literally every single product looks like this between 10 and 10 30 and 12 30 Essential negative the the traders that post it in my room every one of them look the same way If you can don't trade this time period There is a caveat to that if you want, you know, if you're watching it Just demand High relative volume coming in right so this is the relative volume chart So this is telling me this is on seara chart thinkorswim is not the same relative volume So don't use that one as my recommendation This is showing me because thinkorswims is showing you the last 65 minute bars I that's not relevant to me. What's relevant to me. This is showing me Relative volume at this exact time period for the last I have a separate 30 days So I know I mean this is obviously the gdp number, but I know this was trading, you know Three four times normal volume for this time of day really important So if you're going to trade at this time of day, I would demand at least 200 percent To participate if not, you're going to get algoed to death Right, so that's my word of advice for that. Let's take one quick look. Okay. I heard someone crude. I might have missed a trade here So my thesis for crude this is what we do every day in the room I go over these markets and my thesis this is a very important area for crude Right now it's still bullish. What happened here and guys This is this talk about simplicity. This is all I really look at right? I look at I mean I look at the lugs and stuff like that algo guy, but You need to understand markets are in two states and two states only they're either Balancing or they're trending balancing or trending right So balance areas are just traders placing bets very important information d information because when it moves out of there Traders that are wrong are going to be pooky What what's going on here? Why is this such an important area? Well crude tried to break out and you can see what it's fighting It was fighting in this prior balance I'll stop that so that's already telling you something's up like this Maybe it's not as bullish as it looks right because it was most of the look It would have got at least got into this guy didn't happen. Now what's happening This is looking like it might this is one of the best trades out there. We have this this is called failed Balance breakout The trading strategies. I just added these new ones and I I'm going to have a course for these very soon And that's going to be a continuous learning course too because I have about 50 more these in my head that I'm going to be putting down We talked about that earlier But as I add them if you get to get that new course, you're going to get access to the new ones that I put them in Anyway, right here failed balance breakout fbb for short Rest failed break of longer term balance on an hourly chart Well, I say shorter term, but just stick with not really When the mark or the market travels back through the balance area hvn high vine note They're taking aggressive on the first volume of that. So what is that? That's why I'm saying this is so important right here. So the market tried to break out Didn't do it actually built balance. So this is another trading strategy We'll get in on here in a second The point is you want to watch this area as in just an area, right? It's not an exact price I'd say 81 60 ish if this market breaks down And that's real close and only about 60 ticks away through this volume of our through this high volume node hvn Any setup I get I'm taking aggressively and I'm getting short meaning first move out of that volume event because that's a failed Breakout then we have another trading strategy called Breaking bad. It's when you have current balance and there's a more I could put on both of these by the way That is when you have current balance. This is multi-day right here Tuesday to Thursday or Monday to Thursday These are traders built up here, right? So That trade is when you break out a current balance Through the high vine not a prime prior balance as well And then so it's right around the same area So I could put on two different trading strategies if that happens is what I'm saying, right? And that's this one here Breaking bad Current balance breakout through the hvn Of proceeding balance trades are taken aggressively on the first SI event. So this is shaping up to be That that happening right Right now we got a volume event in this is he's own So I could potentially take along here in this instance I don't want to confuse people but this is a variation of is he I'm not going to take this So is he's are usually fade trades into these zones, right? Well, why do I not want to take this aggressive long off of this this volume event that just happened right here? So it's this event that happened I missed it, but this is it, right? Why am I not going long aggressively? I should pretty much already be and I think it already touched the aggressive well, because This is this caveat to that usually that their aggressive entry is meaning the first move out meaning I should probably already be along that this is In the case of a zone that is directly below right now Multi-day balance trade is still taken but needs an ATR retest confirmed So because we are where we are on that chart Right this is Breaking below the current balance Right. Here's your current balance multi-day balance So I want to jump in longs aggressively right here when I know these traders these longs are underwater This thing could do that and I think that's what's going to happen. I don't know nobody knows right? That's why I trade the volume events and what they tell me to do point is I'll still I still could take a nizzy long But I need to see the ATR which it got I need to see the retest which it just did Do we talk about this trade today? Yeah, I think we did reverse the trade It was back out that I'll take the easy trade, but I need to see that confirmation in this instance Then what you look for if this does hold Where I would trade double size of longs if this does this and this That would be a valid fail balance breakdown, right? So this is why I'm saying this is such an important area Whatever happens here is going to tell you the next very likely the next big moving crude if it breaks down Which I think it's going to just guessing right from you know Because it couldn't get through that guy and it failed that I'm going to trade double size shorts here and below if it does this I'm going to trade double size longs if then scenarios. I have no idea what it's going to do I wait and then I let the real-time volume confirm With my rules with my risk rolls the whole idea of this webinar right Any questions on that Bruce? see Oh Still good I'm just going to plug in this zone real quick. So I know that price if it comes back ATR in here is right now 19.19 So if it comes back, I can go long at 39 I could put on 10 Again, you could put on one big one Why why do I want to put on one big one and be it's all or nothing when I want to get out? If I put on 10 I can get out of three in a certain area three in another area And that those areas that we go over every day of my trade room as well That's in the training this own document. That's these areas So that again right out of the book. I pay myself as the money makes money available to me So these are my important areas where I will piece out of the trade Ludwig levels. I usually get the major ones. I usually get out of the full trade But market profile composite highs and lows points of controls b-wap standard deviations Spot gamma levels. We haven't even talked about the hero. Let's just take a quick look at the hero Hurry hop off here I'm logged in very important information. This is just the options information that that's going on going on These guys are important players in the market and they're not the only player in the market But when these options dealers get loaded up With options, they turn around and hedge in the futures, right? So in this case Someone was buying options the dealers selling the options. They're on the other side The dealer has to turn around and hedge themselves By buying futures You can see that's exactly what happened here. Nothing's going on. Their activity is Controlling the market right now. It's important to know. They're not the only players Most times they're they're one of the main players but other times and these are this is another trade strategy right down Coming coming down the pipe here a lot. Sometimes you just see you'll see something like this We've seen it. We just saw it the other day or the market. It was actually the other way But say hero and it actually did this so we say a billion is a billion notional is a big move for the options and And uh, yes or sbs This move is a billion this way That means dealers are buying futures. Well, why and then the market just spins. It's telling you something's up That means somebody's absorbing that activity. So what does that mean? Well, nothing really until if this decides to turn back down Well, what do you think it's going to do if it couldn't go up? with That aka diversions and then this turns back down things are going to get smoked, right? Just on on that's giving you an idea, right? So what does that mean? I just get short No, I would wait for a volume event and trade the revolves off the volume event That's just another strategy that's coming out. But you can use that There's discounts and that thing for spot gamma you get two weeks of spot gamma for that and that link that I put that they posted or that right here They get stopped Two weeks you get the hero you get it hit just as commentary alone each day is So this is his thesis, right? So you can imagine if you go in here founders notes And you read his thesis and he's like, you know, we're not gonna really get in this right now And plus you sign with individual stocks, but he'll be like, all right, if we break 5 000 right here We continue to look for 5 000 areas major support in f 5 1 f o m c And then, you know, sometimes he goes down. He's very very very bright, right? But I don't remember we talked about keeping things simple. I don't need to know like I just need to know Okay, what's your call? All right, if we break 5 000 spx, I want to be short, right? Then I could buy in that information With my thesis This is speaking of important areas extremely important important area for es This is where it did its usual bungee jump. Where are we at? This looks just like crew, doesn't it? It's right at the top here. This is the line in the sand. I'd say 5 000 10 If it breaks that my thesis is it's going to get crushed I'm going to try double size if that happens right now. It's still It's not exactly bullish. Why well because it broke down from this guy. Remember One of two states Balancing or trending balancing or trending gaps are trends Trend moves down, right? So I don't I don't have an opinion right here. If it breaks this I'm trading all all shorts double size and he just confirmed with his analysis that What so what price is this spx is he's talking about the I screwed it up. I took off the cloud notes on here Anyway, I think it's like a 40 point difference I had the cloud notes. I deleted this somehow when I put this order book on here. But anyway Fine, so he's saying if we break 5 000 spx, it's in big trouble. I'm saying if it breaks 5,050 11 in the futures, it's in big trouble, right? So now I can trade bigger if this happens to come back here Which is probably well because it does it every single time it feels like That would be a failed breakdown and I would try double size longs above there All right, so that's how I do it guys I just look I come up with a thesis if my if the volume events match I trade bigger size Otherwise, I'm just trading around as a day trader in my important areas with The volume events the most important thing I've ever seen. I don't know if I mentioned that All right Bruce can I add a gas? I don't know if we can keep going if you want. There's nothing going on Any questions? I will No, sir. I think we're all set. We put the link in there for the Document etc. It's been pinned. So what you've guys you guys got it in YouTube also in discord And no, that's that's everything scott. Thank you very much Great to see all these developments and You know new strategies and new software and everything you're really owning your process All right, you got to evolve in this game. You guys saw me what I used to do right that disappeared You've always it doesn't mean you just keep throwing stuff into your trading You've got to be ready to evolve and make it better and that's what we're doing, right? So it's just it's continuously there was a guy who was coming in yesterday It was he's been in the room for two years is like I've been I've been gone for a couple months And there's just so many new things to learn now. This is awesome. Like he's evolving That's what you got to do if you want to stay in this game, right? Again, it's not me just throwing new stuff in but like the zone drawer and the atr and everything else Like this is all added as we're just getting better and better and better And it's just giving us the ability to compete with these algos and the big money Because they are trying to take your money Leave it know it is a zero-sum game. That's what's happening All right. Anyway, so I this this is why you don't trade this time of day No, I'm just being tortured here, right? So stops up here I held it through the number thing and I was willing to do that But you know that I see they're gonna do this and I'm profitable If does that I'm out of the trade out of the next trade if you have an edge That's what you do all day every day That's what we do all day every day But first thanks for having me I do this every day, you know, I get emails all the time. Can I have a trial to your room? I don't do trials. This is the trial, right? These bookmap webinars are exactly what I do every day twice a day most days Unless it's terrible in the afternoon I do this exact thing go over these markets put on trades talk about the trades Um, so and there's just too much information that you get That the people that my traders pay for that. I can't just let you in the room You have access to everything that they're all paying for us, you know what I'm saying? So there aren't on trials. This is the trial so There for some do you do you have like a number? How many webinars have I done for bookmap? It's got to be at least 300. I would guess. Oh god. I don't know In seven years, it's got to be yeah, I have no idea I mean at least 20 a year, right? At least probably more than that So the bottom line is just just google bookmap youtube scoppelsini and you can watch 300 plus webinars to understand what I'm doing. You can go to my youtube channel I post a lot of the live webinars I do for the room in there too. I mean not lying but the recordings So my point is if you want to if you want to the trial, all you gotta do is watch that and see what I do It's the same thing. I'm doing in here, which has been absolutely nothing today once again Just another webinar with I put on one Russell train, but That's the way that guys these are markets. You've got to accept and you know when it's trading like this You're not forcing trades and actually I'm supposed to be a long crew right here. Was I not? Hold on Does it all up off? Remember when we talked about this? This is the Izzy trade Of course, I forgot to put this on So I'm long. So what did I do there quickly? I already knew what I was doing here So when it came back, I should have my order resting. I'm sorry. We're supposed to do that on the Doesn't matter now, but Just do this real quick It's just I'm gonna trade. I'm gonna trade big big on this No purpose only and this is unscent right. So I bought 10 big ones, right There you go. There's my entry. There's a yellow line. My stock goes down here You can't see that column, but it's there. It's working. You can see it And that's it then I watch as this market what I should have I just made a mistake here What I should have done because I do not like entering in prior events I like to wait till it gets out of there. So I'm actually going to scratch this Of course, it won't fill me. Hold on there. Let's just do this I'll just I'm gonna get in up here just because I don't want to enter in this prior zone So you can see it working right there No, that's a stop. Sorry Yeah, buy stop. So I'll buy stop into that. There you go. So I'm long crude Remember what I said about these markets if crude breaks higher I'm going to be trading double size long because a little lower and trading double size shorts and the same with es And then I got mr. Russell on Just just a note on that scott. That was a stop limit. So once it is touched It will unpack into a limit order. So if there's a book sweep through that area, you will not Get so I got I won't have to yeah, we forgot to go over this at length today That's fine. I just uh, it's it's you'll get a good price But only if you know, it doesn't trade through it, uh quickly. I mean Right, you know, I yeah, because if you go stop market, then it fills you at any price Exactly once it's unpacked. I mean that kind of thing you want not a price that you want But you know fill whatever price is available Right after it's here. Yeah Right. So here's here is the working you need these columns on here. I took them off because I don't trade off of this I trade off the arithmetic stuff, but there it is All right. That's all I got. Yeah, excellent. Excellent. Thanks scott. Um, and uh, uh, everyone I I put in the Contact information for you. Uh, so if you're interested in, uh, um, just reach out to scott and uh, uh, it'll be, uh Happy to answer your questions and go through anything that that you need there Yeah, thanks so much scott. Uh, and uh, what we'll we'll have to do another one of these soon with you Yeah, let's uh, hopefully we can get a day that there's actual trade. That would be great But I hope you guys learn I hope I hope I got through to you on well What we're trying to do what you need to do if you want to be successful You can't scalp tick for tick you guys saw what I used to do It just doesn't work just this I mean in my opinion again That's the great thing about book map. You can get it. You can get the data feeds from me or run your own Play the day test this out yourself Confirm the edge for yourself But if you want to take my 25 years of experience and listen to me the best edge I've ever seen in market in futures markets Are none All right, so I got thanks bruce for having me. Okay. Thank you scott. All right. Have a good day. Yeah All right, bye