 Good morning traders and welcome to the live trading webinar today with Jay trader stocks trader We will go through lot some live trading activities in here You're gonna get insight from Joseph's setups Markets here and How he reads the order flow how he applies it to his trading how he uses book map And how he gains an edge. All right, so one of the greatest things with these webinars here about the live trading is also Watching the way that they're managing their trades and managing their money You might have all the great setups in the world, but you really knowing how to manage it is is something something different Okay, so anyway, you guys know who Jay trader is He does offer mentoring services. So I'll put this into the chat as we continue And I need to go through the disclosures and then I'm gonna jump right into the SNPE mini We'll look at that for about 10 minutes have some interesting things to show there and Then when Joseph comes in probably in about 10 or 15 minutes, I will turn it right over and get into some stocks Okay, so Just the first two disclosures here at the general disclosure and this is important all book map limited materials information and Presentations are for educational purposes only and should not be considered specific investment advice nor recommendations live trading is in simulation Demo paper trading mode and strictly for educational purposes live trading executed in simulation cannot Accurately represent realistic training performance risk disclosure training futures equities and digital currencies involves a substantial risk of loss And it's not suitable for all investors past performance I'm sorry an investor could potentially lose all or more than the initial investment risk capital is money That can be lost without jeopardizing one's financial security nor lifestyle only risk capital should be used for trading and only those with Sufficient risk capital should consider trading past performance is not necessarily indicative of future results okay, so let's jump right in and take a look at this chart here and maybe someone can Tell me immediately who's in control here? What do you guys think? Sellers exactly Alright, yep MC loco Alan others here In YouTube, so this is I mean you can see now. This is just classic We look for this all the time and this is the opening drive, right? so We typically see this kind of behavior right around 930 usually a Quick move to one direction and then the opposite drive the other direction But look at this. This is what's important and so important about market structure to understand Okay, so here We have market structure And here we have some stops we have some icebergs etc. It just kind of breaks above the structure Then we kind of retest back down here bounce back up And kind of retest the swing here not the not the high swing, but this previous swing Okay, there's trap traders up in here, and then they drive. They're driving it away From this whole area up here, right? Look at the profile here And this is just typical. This is what it takes to drive away from an area of Value that was created since 8 a.m. This morning. Okay, so you see the move up here The consolidation and then the move away from it So we stick with this move until we see something different Okay, something else in the order flow sellers are in control. They took control. Well, basically around right around here But we also look at the bottom of the range here Okay for retest now. We also look for Different areas for for price to come back up and retest I want to go over that in just a minute here And I'm gonna ask you guys some questions about that where we look for these retest to come to In the in the market structure however, I want to go over first the bigger picture so important and You know what we were looking at yesterday and in the follow-through So yesterday, we knew we get best best to look at on the hourly chart here We saw the high the strong move to the high side here and we knew that this was a strong move I mean just look at it and You know, it's dominating these candle these big green candles are dominating here And we're looking for continuation, but we're looking for a slowdown up in this area up here Okay, because this is where we we found sellers before and we found rejection in these areas here So the rest of the day it looks like it closed just above it here But if you look over on the daily chart look at where it dropped from Back on Monday April 11th here and that's where it opened up And dropped immediately That's kind of where we retested up here and we didn't spike above that So or the S&P didn't spike above that area here. So what you're looking at here Is sellers are still in it from this point on basically? Okay, if they're positioned up in here sellers, they're still in it and in in concept at least And we were looking for the spike above into these little areas in here and We noted the strong momentum We're looking for this move into this area here at spikes above it and now we're getting kind of a retest back down to it I'm looking to see if we can get down below that and retest back down to here Maybe here maybe all the way back down to here Okay, so this we're looking for strong rejection up here and it's already showing us it you know filled the gap immediately as you guys can see and We spiked up above it sellers are still in control. Let's see if they take control now That we'd be looking for these moves down to retest into some of these areas here Okay, so around for it 44 46 obviously 44 50 is Gonna be pretty important here on the hourly But that would be you know kind of the first area to take a look and then lower And then some of these other buying tails down here We'd be looking for a retest back into these areas here. Okay on the 15 minute chart here Let's look at back just at today You can see the gap fill and yeah, yeah, I really like it down here, so 44 36 or something like that in in this zone here 33 to 36 somewhere around there And looking for it see if we get continuation All right, so beautiful stuff. We're looking for that move higher. We're looking for the rejection It's happening now. We're looking to see if we can come back into the range and retest in some of these areas here Likely we're getting we're getting a little bit of a bounce here off the top of this range here As you can see in the swing But let's see if they can push it through now. That's what we're looking for in the order flow here All right, so now let's go to book map and Yeah, here we go. So sellers coming in looking for them to continue to push this Into our 50 level here 52 50 and so regarding the pullbacks Where's some good areas to look for pullbacks? What do we typically look for in pullbacks? Let's see in YouTube. You guys cannot see very well All right, I think it's on high definition here. Yeah, it's on 1080p Okay, 58 you guys are looking for 58 Yeah, I mean Yeah, 58 is not isn't is pretty good I mean it could pull back, you know, even up to here 62 the swings up in here and Then in this area here This one's a little more challenging. Where would you guys be looking for for a pullback in there? On this kind of strong drive to the downside 80 okay, yeah way up here Yeah, that's boy, I think that would be kind of a reversal at that point Yeah, I mean, I'm not really too sure on this one I mean like I do like the swings here, but then we start to look at maybe clusters and Little kind of areas of consolidation. So we zoom in a little bit here And this isn't bad in here 67 or even here 70 And then the you know sellers take control consolidation. They take control. They already pulled back here To 65 where it broke from and they continued. Okay, so Anyway, yeah, these little areas here This these little pockets these little areas of consolidation and and continuation here All right, so we're going to be looking for a potential pullback into those areas, too And you can still be bearish here on any of those moves. In fact We we also look for at a certain point We're gonna then they'll come in hand over fist. They always they almost always do Is we're looking for those mean reversion traders I trade it back to VWAP point of control, etc And we keep an eye out for them Anyway, it looks like Joseph is Joseph is here five minutes to start. Let's see. Okay So I'll wait until I hear his voice And you can see in the chat there He has a 203 take profit on Netflix from 254 in a short call. Wow Yikes, that's a big move All right, so there you go Alan you were asking about the Netflix stock there Which trading software is this oh Yeah, okay, you're answering a question. Yep. All right Yeah, not really seeing much still Yet, you know likely a moved back up to we're up at 60 but seeing some buyers here So maybe a little bit higher maybe 61 But you know like we covered yesterday take a look at this move here and look where that volume is Right. It's not strong and consistent. It's not not so bad in here It's just but it's kind of really here Right the buy volume the bulk of it We get sellers below this look for the move right back down to 52 So it's kind of testing these areas right now Okay, so we're just kind of reading the order flow in here And I like the the buy volume up here. So here we go So now if we get back up here, we should get the move back up to 61 pretty pretty good buy volume Let's see it a little bit higher here and then the move back to 61 liquidity here Okay, let's see if we get the order book to show us a little bit here Little bit not much. It's not really it's see how dark it is around these areas So we're looking for this move, but it's it's not high probability Okay, if we had the order book really aligned with us there on the bid here and the reaction was the The buyers then we're looking for the move You know, just it's a higher probability outcome. So what here's our move Okay, so there's there's 61 now question here. I have is like that's pretty good buy volume So this might be the mean reversion up to 66 here at this point okay, so You know a way to manage a consideration now. This is not a trade recommendation it's just you know, we go through these different scenarios and We look to understand the order flow here and have a bit of a bit of a change in heart now Because this is pretty strong. I think we can get our mean reversion guys to jump on board here And trade it back up into maybe 65 and now we're gonna get pullbacks too and Likely I should say at least And where do you guys think that the pullback might come if you're looking for it? It's kind of answer the price is answering that question for you right now Yeah, I like the top of the range here first 59 But yeah, I also like this cluster here And you know it could even come back down into kind of here And let's just Take off the Delta column here and yeah somewhere around in here. Yeah, I like it MC local But it's the first one is already pulled back and and we already see it's kind of bouncing back up So and they're pulling on the on the offer here at 62 a little bit more on the bid would be great And we should get the shot up into 64 and 65 and maybe VWAP 66 here But see how we had kind of a change in heart here. We're looking for Just just the move up into Well, we first started off and we talked about 58 that already had happened. So where the next one was at this kind of 60 61 area here and and it's pretty strong by volume. So now, you know First we're just looking for a pullback and then we want to see if or this move back here Bigger picture. It's a pullback But just to move back to into that area now. We're looking for the continuation here By volume looks good All right, so they're just testing this swing up here This was that next area where we're looking for but there's still a lot of buyers in here So still looking for this to maybe come up into the VWAP area and then that's around 66 Or something so let's see what looks like over here in the order flow try to match some things up here Not bad in that around the 67 area and liquidity filled in here So what yeah, let's say let's draw that line up See if we can get a pullback into that area All right, Joseph is having a coffee and getting ready Very important part of the process And I'm very envious of his coffee maker All right, let's see it. Let's see it guys. Let's see this These buyers try to try to pop it up in here I think this is a high probability trade this kind of mean reversion at some point, you know During the day after after these initial drives Traders just they're looking for it. They're they're antsy to do this move and we can look for it every day Yeah, I think We'll have to Converge on Everybody hey, good morning, Joseph. How are you? one second Cannot hear Bruce over here. You cannot hear me. All right Rose, can you hear me? Yes Yes, I can't hear just one second Some of you guys were in YouTube there. We're looking for the move to 64. You nailed it Matt Yeah, POC is a little bit. Well, POC kind of moved down The previous POC was up here around 77 So just shy of the VWAP that I have here and just shy of 65 it looks like 65 trade 17 contracts traded up at 65 How is it as we wait for Joseph here, I guess he's got some Good Martin traders. Yes, can you hear me? Yes, Bruce finally now. All right. All right. Excellent. Excellent. So Let's see. Are you sharing your screen in here? Yes, let me know if you can see it Yeah, yeah, great. All right. Okay. So let me pop it out and everyone should see it Oh, yeah, we're looking very forward to this Netflix trade that you took Well today was Really one of those days to remember and pretty proud of I mean, this is another trade of form Some of my inventory and we took a short tap here Covered partial the rest over here. So we took all unwind and I want to go over first What we saw at the gate So Netflix at earnings yesterday remember and I wrote over here a few no traders So we had Over here. This was the after hours. Okay. So we had a pop filled over here. So we went from something like 350 Back down to 250, you know, remember just like twitter. What happened at time seems very similar Now let's look at what happened here So in pre-market We were looking at the price section I'm gonna Zoom in over here. So we started seeing like this pop over here to the 254 255 Which was this level over here 254 255 you can see that we had some decent support I'm gonna Do like this I'm gonna change it one second So we had some decent support over here 253 and that they were over there Now it started to fade and then reject over here around eight o'clock Reject that again. So lower high again, lower high at the open This was the I would say beautiful pop-in feel that I like to trade And uh, maybe it was trading over here next to me. So we were looking for this 930 And why this bounce to the gate? Okay, so this is a pre-market low. It's 243 and 90 Why this bounce over here? Because a lot of traders are looking for the discount Okay, so they think wow, this is Netflix. I'm gonna buy Netflix on the dip Netflix can become a very good long over here But instead they're basically buying a falling knife So once once you have this bounce over here And it's not only that it's also from short who are covering at the gate, you know, they're afraid they're probably gonna go up You're looking instead too short. That's what we did in the room. So we are looking for this pop You can see over here that above we have some decent amount of resistance Now I want to put over here also the volume dots. So you can Look what happened Open big so they try over here to push above 248 to 49 Main hold on a number 250 And you can see over here. We started like to sell we started really like to dump So even you take a trade over here 246 to 47 your stop is really minimal around 250 And then we started to have like unwind and wine and wine and wine and wine And they were selling over here massive massive I mean we had from the open traders like 40 points down over here 40 points unwind my target is 203. I call that for a daily Daily reason which is a main support We started bouncing over here a little bit around 213 to this area 213 Bounce over here, but it's still done trending. So I'm not really looking to cover the whole position And this was a juice one beautiful Then I'm looking at some small caps this morning. I'm looking at tesla as well We are the trade on Llip Let's look also at tesla So at the open again another of those trades Uh, I was looking first at es as a guide. Yes was a simply fading Uh on a curl on a curl of this. Yes. I was looking for longing But instead we didn't have that We had a pop We had a fail Book map over here pushing 1035 Faded over here rejection of the web jail on rejection beautiful fade and now this is going to be a fader I ideal until 965 970 Uh more resistance over here nice even to recycle on this hitma over here 1003 Which is this uh small reversal bar over here. Okay So pretty good on trend um support that we have Check on the over here So I'm looking for that 973. So this is the main support and then I'm looking for this 962 Okay, so let's start and continue to watch tesla if you didn't this morning When we have this uh main fader not really shorty weakness over here breakdowns. I'm looking to Uh pull backs and then looking for a short In the meantime while we were talking Just before connecting I was a little bit slow because we took a top tick short on a small cap And It's paying pretty good Again using book map for taking the top tick maybe after if we have time we can we can watch that Tesla has earnings tonight, buddy and Uh netflix had yesterday the most difficult thing is uh Holding your profits. So not really covering too soon Because when you see something like this you are like up 10 15 points You want to take profit instead it came down 40 points from the open Uh, actually a little bit less than 40 points, but you know still a substantial move down here Now, let's look if we can have some other possible ads So let's look for your entries It was really like a busy morning had uh One tiny stop and six good trades Joseph I'm I'm just curious like uh Like today, I mean you you knocked it out of the park um so Moving forward like um, how do you Now you're gonna want to hold on. I mean the way you want it. I mean I'm imagining the way you're managing your money Uh is you're gonna hold on to that Uh, and uh, you're gonna look for other great setups and not just start jumping in all over the place And and uh, oh, here's another setup. Here's another setup and start giving that money back Yes, so how yeah, if you can just maybe talk a little bit about that like how how you kind of what's your It's more psychology. I think or it's money management and psychology Yeah, so yesterday I wrote something I don't know if I posted it also over here, but I wrote something about patient patient patients So and I made the example that I have two trading strategies one has More than 80% win rate. So one would say fuck that makes you millionaire. Sorry for the word Again, the other one is having a little bit less than 43% win rate And uh, everybody would think that 80% win rate plus actually is around 86. So really really crazy I would think well that is really the best strategy to trade. No Actually, the one is making much more money is the one with 43% win rate And I ask and I put this around and a lot of traders were telling me Oh, yeah, there you are giving me suggestion, but I didn't put that for suggestion I was putting that to hear opinion with the traders and few guys came out and say Oh, is the risk reward exactly is that because I can have 87% win rate or whatever But if I have like one hour one hour and a half and the 43% I have like almost four I'm definitely going to be I would say winning more with that We say 43% win rate, especially because when I lose on the 86% win rate I have like a bigger stop in terms of hard. Okay, so more drawdown on the position more drawdown on the account And that really is a key in risk management The second part of risk management that we can talk about today is how to hold the trade I mean if you look over here and just Bruce made an example That you're holding you have to hold And just look at this trade. Don't look at the stock itself. Okay, because of the stock over here You can look really for so many I would say so many bars. I'm not really interested in that He said I want just this you start looking Okay, let me put it like this And uh, if you go over here and study configuration You can see how I've set the candlestick interval one minute Okay, interval one minute and Just put over here Okay, so you can see the trend We don't have like peaks So relative high and then we have a pullback and then a break So that in that situation would be where I get out half of my position And then for example the trend line and curl back up the remaining half No over here. We have a steady down trend So the only first pullback is this over here. Okay, this over here So we are in a Really ferocious sell-off You don't want to really to end this You want to simply to hold this? I mean, this is a perfect trade And you want to simply Try to maximize profits when you have something like this So what is the point try to hold try to hold try to hold? There are two main I would say different ways to to trade one is like, you know, a lot of traders in my This morning took this short and even being pre-market. I called the short at 254. We had a 254 short This level over here. We were looking before a book about this level of here This level 254 By the time was the open over here was around 247 to 246. So one can trade one Shot and hold it, you know, you can have like your target scale out whatever or If you have confidence in reading also book map Because that's necessary You can simply start your short could be here or could be here, right? on our trend line break or on that Rejection of this support with the vweb in 90 main zealots But then also when we have these beer flags And we have a lot of beer flags, you can see I traced them over here This is a major pullback. Okay. So it's resetting So right now I'm looking for this level over here Around 225 I'm looking at heat map. So we have that heat map over here I'm gonna add a little bit more short for this unwind So each time we have this we can if we're like getting out for example over here over here We can read a little bit. We read a little bit So you get out. Let's say one third position. Okay, let's read one third position And now you assume is your risk trailing the money with the new average Because by doing that you're gonna simply if the trade goes Okay, so if the trend goes down You're gonna simply collect more money and make more money over here than ever So it's like adding to your position So adding the money recycling And I simply love that idea Joseph is there anything at at at the moment you're Looking at Yes so I have position actually mobby has position still on Netflix We uh, we're looking at teslas now This morning. We are holding This L L AP and this is what I call a pump and dump I'm gonna put this up over here L L AP Oh really subscribe. Sorry over here Uh, just look at these traders This was a perfect a perfect way To trade half levels. Okay so First of all the daily Um I said one thing very clearly over here. I just want to post it. So it's clear. What was my call? I said one thing L L P look to short eight dollars And then a trader asked me j y previous supply and J lines on the daily So this is our daily We had this previous supply So resistance. So this is really how to trade a pump and dump And uh, and once we had that rejection after the halt We had to push over here. You can see it open at around seven sixty seven fifty It pushed to this eight and that eight is the daily level. We are watching this over here, right? So we had like an exhaustion right away. I saw sellers jumping in So we decided to trade into this seven thirty seven forty all right This for example is an execution from a member And uh, we are looking for that fate now What I want to see when I do this First of all, I want to see that we cannot reclaim anymore the daily resistance Second I want to look for orders selling orders like jumping in And if you see over here traders We have a nice seller here And then a more seller here. This really Uh confers my thesis And then I want to see third Okay, so one the we don't go reclaiming more the resistance second the heat maps Third, I want to see a lower high This is a nice lower high, right? We can see a trend line break. I mean, this is amazing. Now the target up here is 480 So I want to stay for 480 target Okay, make sense traders. Any question on this? Yeah, what what about the bounce off of your blue line there? I don't want to take that bruce For two main reasons one. I don't have like, you know, a huge amount of heat map over here Uh, like for example this morning we had on alvr and then after we review second is And by the way, bruce, we're giving a lot of formation this I mean Traders if they're just like following what we're gonna say and what they're saying each week They're gonna learn a lot and and we're etiquette traders. So that's something I really like so Give really a thumb up traders for bruce and For the guys over here for booking up. They're doing all this and it's I think something very valuable um So not long in over here for the reason that we have already Our stock it is doing a pump and dump We have no use such demand over here. I don't see any kind of big liquidity We had like some Support over here, but you see they're moving down, you know, seems like they're they're just like spoofing and they're guiding this down And that's really funny at the same time. I'm looking for these pots for Uh, a pop like this in rejection. Okay, so I look over here. We have a resistance, right guys 670 665 so we have this This is a wall of sellers Anyway, say today, this is not a lot of selling pressure. Well, it is you have to consider how much this is trading So if we have this push And we have this I'm looking for a short until this level down here. Okay, so we'll post over here in the Book of empty score room Over here. So this is remember a pump and dump scenario we're gonna write over here pump and dump scenario on Llap And I really look for this This is great. I mean like you're looking at your higher time frame levels Uh, you know your strategy. So you're looking for a bounce off of the blue line there or the blue zone But the heat map is telling you something different the order flow is telling you something different Exactly exactly exactly. I mean this is this is just classic. It's like We pound on the table all the time like you look at your you know If you're a volume profile trader your high volume node low volume nodes, whatever like what is the order flow around those areas That's what's going to give you the edge So any exactly Uh, what I what I want to say also what I want to add over here is that Give yourself time to learn this stuff Um, especially because this mark is a really tough market. If you don't know what you're doing Uh, I see a lot of traders that are getting I would say Um Bad results because they don't know still the the setups to trade they don't recognize the pattern They don't read the order flow So it's putting more things together. You can now simply look at the chart and trade the levels In my opinion. Okay, then I don't say nobody does it and nobody is profitable only doing that But personally It's like, you know, it's like when you want to become an athlete You have to work on every single part of your body mind condition Plan so it's sticking more things together for me is like strategy risk management mental discipline and all sort of flow And when you put all these together you become a complete trader All right, it's like if you're I don't know you're a soccer player and you only know like To play in defense and then when you're when your team moves like in an off-sense over here And you know how to play So learn how to put all the aspects together And now the other one that I'm looking at I don't have a position over here This morning. I can say I traded Bruce will already understand where I showed it so Some of the guys longed it And they longed over here like my friend Pierre He took one box and 40 cents per share And We had this you see this dip over here, right the reclaim of the V web around 670 So this was a very good trade But I missed the trade so once I miss the trade what I'm going to do I'm not really going to Jump in again. I'm not really just like Having FOMO and and trying to To grab something that already left. Okay, that's not my style so I waited and I was looking for Did too long this was too fast and I said again said no well two times I missed this And then I was looking those levels and you can see over here means something beautiful This Bruce when I saw this I was in tears And I basically showed it over here over here Covered cover everything over here Actually, sorry over here So I took another, you know a home run not something like wow gonna make so much money over here But a point is that I use a heat map And how I use it is simply perfect So I'm not saying this I mean I was showing this slide when I was doing it and I was explaining this With all the process Now what I'm looking is ideally this you see this heat map over here the 790 But I'm always careful When I have this kind of volume on a On a stock above the pre-market high this this white line is the pre-market high So we are at the pre-market high Let me say just a little bit above the pre-market high So careful, I mean trading short this It has to have like a fast blow up like we had it But I mean This over here This is the reason why this morning I shorted So I'm gonna post also this so you have like a reference also right reason why shorted So this is really called gap and extension play And you can see the reference up here From gap and extension play So it's a really systematic approach Let me share over here in the book about police courtroom this And this traders is uh Is a lower risk Set up gap and extension so Now what I'm looking at I said that's 790. I mean ideally we have the 790 Is gonna it's gonna be a good setup Rather than that, I'm still waiting. Okay. I don't want to jump in something just to train Tesla a tesla we're getting to that Level over here at 1010 so This is a big conflict. So view up and other things We also have a big push right now crxt Mabir Yeah CRXT so it's above the pre-market high I was sure it had to be for over here CRXT So at this point what I'm doing over here on CRXT I'm gonna put this one second. I'm gonna look for a daily level Uh So we have some uh resistance over here Then we have more over here We have more over here So I'm looking for the high volume levels So from 250 Yeah, I don't see any kind of other levels Above 250 well So from 250 we go to 365 Let's look CRXT Nice heat map over here very nice heat map on a lower high that 248 is pretty low risk to take the train So we have a It's a small trend line. Okay So the order over here is moving from here. Okay, so first it was stopping out these two levels So it was stopping out over here cane I had basically soaked over here 250 And then it disappeared or he basically selling over here and just like pushing down stock now Yeah, I I missed this. Okay. I missed this and so yeah, joseph if you can like this is really important because like You knew it was going to do this um, and you could have gotten in at like 42 or Or yeah, somewhere around there Because that's where it was and Uh, and that's when you mentioned it somewhere around there 40 42 um, yeah Tell us why you didn't take the trade Uh Basically traders is uh, I was not ready with uh with with the brokers. Remember you have to borrow this is a hard to borrow stock So not all the brokers are uh, give you the the possibility to trade this but I had bars this morning Uh, the fact is I simply missed the timing. I mean, I have to be super ready when I trade if I miss the uh An entry where I want to take it would say 244 between 248 that was my level Then over here, you know 236 238 is already too low because like then I have to stop being that I want to take some size I don't want to stop with uh, you know 15 cents. It's not my my trade. Okay Uh, so I have to wait. Uh, that's that's of course what I'm going to do. I have to wait over here So, I mean like how like, uh, did you um start to kind of I mean you feel okay about it. Like uh, I mean it makes me sick to my stomach a lot of the times when I see It's like, ah, I missed it, you know, but This is a part of the game And uh, and and now the risk reward is not in your favor or it's not what you do Um, so how did you kind of learn that or overcome that? I believe with a lot of practice And by journaling your results. So every end of the week I get all my trades and I classified and I divide and buy um set up traded And then I have like a template Which is uh, I would say a methodical sheet where I put all my Yes or no based on different questions And this question are regarding uh emotions and discipline and trading plan and how I executed the plan If I had guts if I Chosen my gut if I was like patient stress or whatever. So I have like I believe 78 questions on that So I can see how I was Uh trading that week What was the main setup that I traded which was the setup with the high win rate and the highest return which one the poorest uh And I would say worse Set up for me. What are the best stocks? What are the best coins? What were the best futures? I believe I take two hours to do this every Friday And uh, or actually every Saturday morning But it really helps you to become a better trader. So if you think that traders is just like No trading taking a chart up And uh, just simply trading. No Uh, don't do it. It's just not like that. There's so much more involved. Okay. There's so much more So, uh, crxt we we've missed it alvr It was alvr right now Okay alvr So don't worry trader. We're still gonna watch netflix And uh And tesla. Yeah, that that could be interesting. Yeah, exactly So alvr here is lateral still on llap On this trade i'm in my average is uh, my average is 754 breakdown alvr. So i'm up over here one buck and 13 cents and 33 cents On llap I'm waiting for 480. So even if you take only 1000 shares on this And it goes down to five bucks You may like your nice 1000 Leave this trade itself And the most important thing is uh, I don't think about the money when you trade think about our return Because when I took the trade Uh, my entry I missed the entry over here. I wanted better entry I got the entry over here And my risk was this So I was risking in this case 60 cents And now if I measure from here from my entry down to here So you have to do all this The body 60 cents and you have your r Okay, so calculate always Uh Using the risk. All right, let's go back to tesla netflix So joseph, I mean that's the the the risk reward that you're outlining there. Um, however, uh You know a lot of times you take partials Uh and and also scale in uh, that's true as well. Uh, but So But you're not holding like nest. I mean you're holding for that that longer Move or that longer or higher time frame move? Uh, but not necessarily though And how do you kind of deal with the risk management on that? Uh, what do you mean bruce? Uh, not necessarily well because I mean you you have your your ultimate target But uh, uh, you know, it it may not get there And and uh, and that's it's a big That's a big target And um, you know Time a day like let's say end of the day like are you still holding this or like you you start to see lots Of buyers start to come in. Are you still holding this? Um, like how how would you go through some of those scenarios? Okay, so I got what you mean So it's uh, it's a big question and I think it's one of the most important uh, I would say Sectors for a trader to improve Uh, because everybody focus always on the entry Uh, and uh, everybody put the stop stop loss now But nobody has you know the clue where exactly this will go We have one thing that is sure we have the thing that we took the trade and we are stop loss So we have two things that are certain But we don't know where the stock will go. So we don't know the target If it goes bad, we have our stop loss. Okay, so that is set But then you have like, you know, your big point over here and uh, you're You're just saying okay now what? because from that really depends you becoming uh Millionaire or you becoming broke or you becoming average So you want to become like Uh, filthy rich you'll become like a good trader. You will become a full-time trader. Whatever that is your goal It's fine but you have to measure these stocks by using statistics And also by using for example the order of flow I have some precise rules Uh, when I trail and I leave that really to to who gets a a private lesson with me But based on stats, okay and results. So I know exactly how many times from here I will get hit here here here. So I know exactly how to trail But again, if I'm in a trade And I don't see any kind of resistance All right jumping in jumping in Then I start wondering if this is a good trade or not for for a short I mean now I'm just like relaxing because I know that I'm still full-size I know that if it goes over here to above now this trailing 630 I'm going to trail partial If it's going to go everything above here around 710, I'm going to trail Okay, so I have these two main levels in my mind So until there I can simply relax and uh, if it continues to go and I continue to see these Lower highs then for me. Why not to hold it? You know, the essentially Book my best telling me if I have to get out or not All right book my best telling me We don't have any clue. Okay. I don't have any clue if a stock in about one hour Will have like, you know an institutional order or whatever And that we're going to have like a Big one a big push a big squeeze who knows For now what I can say is that all right, this is fading Volume is weak No big orders on the buy Order flow lower highs lower lows good. I'm staying in So this is the process that I believe traders have to do Yeah, yeah, great great stuff joseph Thank you bruce so, um CRXT again And also tesla. Okay. So tesla over here. We have an entry Uh just here So this is a very low risk entry because Once we enter on the trend line I just want to risk a little bit above and in this case over here 1005 Now next target 1000 Next target 92 personally. No, I didn't take it. Okay, so I didn't take I'm over here explaining I'm not in that trade Uh, I'm just like holding Netflix. So he actually mob here But this is a very good entry So perfect setup. In the meantime, I also have to look at CRXT Could possibly push over here We have a our low A lower high. Yeah, I'm also like, um It's a major triangle over here Always watts for the patterns Waiting for for the cracker 250 So a push cracker this to be so break of 250 stuff and then short Or dailies over here to Buy the dip Take a lot of patience. I'm looking right now at 20 stocks My other screens at the same time two futures and three coins so A lot of stuff to watch What do you think traders today what that was going to do on the earnings earnings? Okay, let's check again over here CRXT You're the you're the expert on tesla What uh, what what do you think on earnings? I don't like to trade before the earnings Me like hold a position after further earnings Or when I had their Like let's say after one minute after the earnings So I already have a direction or I simply wait for the morning after Uh, personally in the condition I am tonight I will uh, I will simply wait Alan's asking about how you look at dark pools Yes, I'm looking at dark pools. Uh, you have to look with your broker if you have access A book map will show if you have access to the mbbo a national best bid not Yeah I mean book yeah, I mean you you you showed like a million one trade for like a million shares like I don't know Multi-million-dollar trade obviously, uh, and It had to be a dark pool. There's just no way around it Yeah, yeah, yeah Let's see the CRXT over here So there's trying to hold over here support The way you saw over here Bruce we had a stuff, but you see the price is still holding right? It came to the 250 spike right away rejection. Yeah, let's see if it could make it back down to your I have no position over here on CRXT. Um, still I'm still waiting Yeah Mavi, are you ready? Yes Well, they're trying to push over here traders. You can see the the orders to 28 to 30 to 35 stay again 250 248 to 50 still waiting You have to wait that Let's see over here This is the mbbo traders. You see it like this, right A lot of traders, uh, mc. They're looking for good earnings on tesla And I would say yes I would say also. Yes, but you know, I don't want to Use any lot though options over here 243 So they're holding over here this 241 right now The body is uh holding that support is refilling. We went down to 11 000 now back to 23 000 They're definitely going to do something over here 77 million traded crazy amount of volume for this small cap They're holding the support to 40 to 41 As I said, I'm looking for a fake out of this 255 to short 235 support. Remember, this is also a fib level It's really often, you know, just about waiting the opportunity waiting the opportunity But I can tell you when we have that opportunity We have to wait for that trade It can be a fantastic trade over here Never anticipate. Okay 34 Rejection 246. So there was a little bit of I would say fight between Supply and demand All right, so let's continue to watch Tesla and Netflix So tesla wanted pretty good Remember, we were looking for that trade This is the pop and fill the gate So this is not me, but this is how you trade it. Okay push traders coming crxt. Please check So look that extension mob here looking to short between 265 And 280 let's see for this push. Let's see if we have a stuff 262 It took a starter crxt Waiting stuff to load So I took a starter because I saw over here some topping I know that's a pretty good level to take a starter very very small I'm waiting for that a plus setup because over here you have to consider that this is a breakout They will look for a push. Yes So some big volume over here. Okay. I'm loaded 280 Loaded 280 Loaded 280 Now I'm waiting for this to fail The extension play And let's see if we can fail below the 245 Nice over here 260 I think we can have a breakdown This case my risk is 283 See the second one over here pretty good. Yeah My average is 273 So I'm risking 10 cents Actually, I'm going to risk this 286 over here I saw some big buyer 275 You can see over here Well trade is not working. I'm downsizing at 275 So I'm lowering my risk Why because after this stuff over here, I wanted this to see a fail instead is not fading So I downsize now risking this with the rest 286 Average over here is still the same And if it goes down, that's fine But if it goes up, I wouldn't have a big stop and also I want to keep my Big win for the day. I'm actually downsizing all over here So I then saw downsize also all out for me 274 I don't care if we'll go That's my risk management Now a little bit more sellers I will wait for a classic lower high and then I can short of this again So I lost one cent over here Taking this trade and that's fine for For this Let's see if we can have a lower high And then a short meanwhile Tesla is unwinding good Okay, Trader so Almost time for us any questions? Yeah, let's see most is Seems when you enter trade, there's a pop up or down near an important area for those entries. Do you initially? Keep large stops and reduce the risk after you are on the trade If not with stop loss With small stop loss does it? Does not that stop you out most of the time Okay, okay. I got it. So when you trade on a fader So in downtrend It's very easy to know where you stop because generally you risk, you know, just above your entry or a relative high or at the bar When instead you're trading Enough trending stock, then you have to look at daily levels So if I have for example, like over here, let's put back LLAP So right now it's 584. I shorted as I said before 754 My risk was 810. So I was risking something like you know, almost 60 cents In that case, I'm risking 60 cents, which seems a lot But you have to know that I'm looking for that. Oh, sorry traders possible trade coming Okay, I'm risking traders for Uh one r because I know that I will get three or four r So I want to definitely take the trade Uh, I don't you know, put large stop or small stop I put stops where I have like levels on the daily and heat map together Okay, that is my point Uh, other question over here. Would you sell And add the money straddle on Tesla to get premium on the volatility? Not really. I prefer I simply buy calls buy puts I don't use like any other strategies. So I keep it very simple using the underlying stock That's my way of doing things and that's what really has been paying for me And the question traders pretty well here Okay No, I think we're all we're all squared away, uh, joseph. Uh, so, uh In valuable, uh, uh nuggets here You know, thank you. Thank you very much, uh, joseph. Um, you know, really appreciate it. Uh, and uh I put your information into the chat if anyone wants to reach out if they have any other questions they want to Let you know And the services that you offer, etc So, uh, uh, yeah That's that and then just uh, let everybody know there is a book map special event Later today at the close, uh, us close here. So at 4 p.m. I take a look in discord And uh, you'll see it there with A new guy here. We will have a bret mayo He'll be there. All right. So talking about, uh, stocks and entries and filtering, etc um, so, uh Yeah, anyway, uh, joseph Excellent stuff here and let's do some more events together. Uh, you had mentioned this you wanted to so I would love to, you know, do some, um I don't know if we'll get creative and and think of some things maybe at the open again How you trade the open, uh, and uh, those were really popular, uh, and they were they were excellent. So, uh Of course, we can make that some of this. Yeah, absolutely. Yeah, all right guys. So Uh, thank you for the great session. I mean the market was great today. So hope you learned something Again, uh, you can reach out to me, uh, team at twitter co email or bruce or just write me on the squad Again, see you all next week. Thank you bruce. Thank you. But ma book map and see you next time. Bye. Bye traders Thanks, joseph