 How can you see what good morning traders and welcome to the live trading webinar here at book map With Scott Polsini future trader. We do this every Thursday Scott said a future straighter who has a nice Backstory here that your straighter who has a nice he has been trading for quite a while and at a very very high level and We're very lucky to have him here at book map So he's gonna go through how he uses book map And in the live analysis and live trading it is in demo paper trading mode So I will go through this. It's important to learn or listen to the Disclosures here, but you're gonna learn not only about the entries and exits But about the trade management and his mindset his outlook on the markets I have Scott's contact information here if you want to reach out to him. He does have a Live trading room. He has an educational course. He has a website Etc an email here so you can reach out to Scott directly if you have any questions Let's go through the disclosures and turn it right over to Scott So let's see everyone can hear me here in discord. Yes, and we're good in YouTube all right general disclosure all book map limited materials information and Presentations are for educational purposes only it should not be considered specific investment advice nor recommendations Live trading is in simulation demo paper trading mode and strictly for educational purposes Live trading executed in simulation cannot accurately represent realistic trading performance The risk disclosure trading futures equities and digital currencies Involves substantial risk of loss and is not suitable for all investors and 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 to consider trading The past performance is not necessarily indicative of future results. Scott. Are you there? Ready to go Let's see here. Yeah, there he is. Okay. All right. Let's let me get your screen here, and then I'll project it Yeah, my screen Yep, I'll set to go all right So Pre-usual there's you know 14 fed guys talking today feels like it's literally like six But there's one talking right now on the markets all over the place. That's how it's been lately Again, I complain every day in my trading room. I don't remember in my 20 plus years of trading ever having fed guys talk Constantly all day basically every day. So I don't know what's changed, but it's But it affects the markets, especially in these algo Algo-driven days where these algos are set to trade off of any kind of keywords that come out of their mouth So, you know when they're talking I tell my room every day all bets are off But we're playing different we have a reversion trade we're playing even with the position trading stuff that I'm showing you guys You know you can play it, but when new information enters the market again all bets are off So it's you know if you want to roll the dice when they're talking You just got to accept the risk because Anything they say you could just completely flip and then flip the market and new money comes in and so on and so forth. So And that's what's going on right now. So You traded your own risk is what I'm telling you So you can see here this large ice came in here 2,000 buy ice. There's 800 stops here This is what I call one of my six setups. This is a double whammy We have distinct names some of them are funny on purpose just to lighten things up But you know double whammy is the dumb money sell-stop puke the retail trader puke into the waiting hands of the smart money You know we call them smart money because they're bigger and they can make the market go where they want so that makes them smart So that's that's where that comes from. So We'll trade off the zone again. I'm not very thrilled about trading right now because of the Guy Eshkari it keeps chirping, but we'll hear you know if he says something I got this squawk you can see the On my squawk here and you can see the headlines And then we also have the edge over here that is now oversold We forgot to look at this last week when I ended when I added to a short position And I take it on the chin just because I made an error I shouldn't even I should have been out of my original short and I added if you guys remember that I was complaining about that but So right now we're watching the zone to see how this reacts So we have a new spreadsheet that we're using my room where we're trading a different trade Reversion trade in there. It's more of a shorter term trade, but with that spreadsheet You can get I can get exact prices for my for my position trading strategy is which in what you guys are watching on these webinars, right? So we put in the zone The zone top and bottom so that you see the zone top is 37 81 quarter So we put that in here I'm getting all that feedback from people entering the room ever I mute it every time and every time it comes back on There's all sorts of toggles To to hit in that in your discord in the lower right, but but you know what? Yeah, maybe I don't know if you want to do it now Scott or you want to do it another time Up in the bottom we put the current APR which is 8.78 Carries average charades. That's telling you the current volatility of the market, which is very important Many many of these out goes trade off of that So you can see we're coming down with spot gamma level as well. So this could be a decent support level He mentions this exact level in his commentary this morning. So this is an area where we can bounce Bigger picture wise though This is not looking promising overall Long as I got to restart this So On day Tuesday ish at a Smaller balance area. So let's go back to this stuff. So we had this was looking very bullish here I mean bearish at the time we broke down from this balance We form more balance below it and we were down here and actually spot gamma said that the options Complex looked very bullish the way things were lining up and I told my room this morning I said, you know, he is calling for a bounce here I said, this is not the best place to do it if he was saying buy some calls So see you limit your risk because this can think it have easily fallen off the table But once we got through the high-volume node of this balance area, which is that's a fail breakdown of that It's one of my it's my favorite trade the fail breakdowns of balance areas and then we got to the high-volume node of this bigger structure I said this that's where you want to start adding if you really want to go long That's kind of confirmation that this market's gonna rip and that's exactly what happened, right? So we ripped up here. We gapped up And then we built balance and then we tried to break down and we had another fail breakdown. So What should happen should have happened as this market should have done this just like it did it here Right, that's what should happen when markets have the fail breakdowns or fail breakouts the other way, right? And you can see this had its chance To rip and now we're back here something's up. That's not what you want to see If you're if you're bullish this thing should not have come back anywhere near where we're at right now So this is pretty much, you know, and this looks like it is forming a bigger balance too But I mean this based on what didn't happen. I'm expecting a move down to this area probably on this webinar, I would guess 3730 so that's what is expected But I am a day trader and you know these volume areas are the real-time volume is the most important aspect of the market Because this is what's happening right now You can look at charts to your blue in the face if a big player comes in and disputes that view You're it's it's going the other way, right? So So we got a new set up here too, but you know, obviously this double whammy this by ice just stepped in is now taking it on the chin So the bottom line is you know, I come up with a thesis I come up with a story and then if I get setups in that direction No, that that is obviously confirmation and you can trade bigger Right, we talk about the risk factor every single every single webinar And that's built in here where you shouldn't be risking more than 2% of your account size at any at any time Right one and a half to 2% 2% smash and then you shouldn't be risking more than 6% in a day, right? So but if you many times if you get setups in important areas that that fits your Thesis for the day then that is an A plus trade and you can trade, you know 4% on a trade But you still can only be risking 5% in a day. So you got to be aware that okay, I'm taking my shot here. I have strong conviction on this trade everything's lining up I'm gonna trade bigger, but if you're wrong, you basically got one more bullet and you're done for the day, right? So you can't trade bigger in individual trades, but you still have to respect your daily loss limit And you guys have all heard my stories You know two different times When I was trading for my trading firm King Street trading where I you know by they violated as well So we had risk managers a while it was I mean it's ultimately my fault But we have risk managers for we had risk managers for a reason and that my drop tub is supposed to be $100,000 for the day. So if I went down a hundred grand, they're supposed to shut me off two different times one month apart I went through that they called me it got to the point where It's kind of of they call it negative reinforcement, right? Like there's so many times I'd hit that level and I'd ask for another 25 grand Right like so I go down 100 grand and I ask for another 25 grand They give it to me I'd make it all back happen again and again and again, right? So then they started to become conditioned where they would They would stop even I mean in the early days They would just shut me off right kind of like your brokerage will shut you off if you have that in place Which you should but then as I got more experience and I was making millions of dollars for the firm It was more of a phone call You know hey, are you okay? You know you on tilt, you know, and then I'd be like I'm fine. Just let me go, right? So that was an error on both our parts and it cost both of us my firm and myself a lot of money So, you know two different times I my drop test was to be 100 grand and I lost $800,000 in about eight minutes this was back in 2004 and Literally a month later the same exact thing happened So my point is if you don't respect your daily loss limits You are going to eventually take it on the chin and potentially blow out your entire account So if I would just want to follow my own rules and or and my firm would have followed the rules for help me I would have another you know 1.4 million dollars on my bank account. So that's a painful story to tell but Once again, the reason I do these webinars in the trade room It's for you guys to learn from my mistakes and and my you know and my triumphs but mistakes as well so you need to get that set up with your broker where You know every every trader thinks that they can handle it when they go down They'll shut it off and it's a whole different story, especially if you're a competitive guy or a girl You know you think you're gonna stop and then you get pissed off and then you're like screw this I'm gonna trade with another four grand or whatever your account size is Or a percentage of your account size and then all of a sudden you turn around and you lose Now 70% of your account in a day and then you wake up the next morning You're just thinking what in the hell was I thinking right? It's just not just trust me It's going to happen to you eventually so just get things in place before it happens I love the quote in the Mike Tyson quote everybody has a plan to they get punched in the mouth Right, so get it in place before you're emotional is what I'm saying. That's my one early rant And hopefully that's all for the day All right, so you can see there's a bunch of stuff in here right now You know I trade off of the most recent setup. This is the most recent setup This is you know 769 sell eyes But you can see this whole area is very important because this is what this SI indicator tells us is You know where these traders are taking a stand. We already know there's there's huge buy ice here You know there was pukes with somebody absorb those as well right in the order book as buy orders Responsive or passive buy orders so we know there was buy ice We know there was someone absorbing this puke and there's some sell ice now and somebody's And they're buying this as well So it's getting confusing in here because there's so many there's so many setups firing off But the point is this area is very important. Whatever way we break from this Sic area. I understand it's a 20-point zone or range There is a lot of investment in this area and that's what we look for that is the whole crux behind the the setups is finding traders that are Loaded up one way and then we play for when they have to puke them out So when this moves out of this area, you're gonna see a big move, right? We don't we just don't know which way it's gonna break it And that's where you come up with your thesis so on and so forth So I'm still leaning short based on what we just talked about But if something happens and this rips up higher then and I play it right? So I this is the king the real-time volume is the king. So I'm ready to pivot if this doesn't break, right? So this most recent setup here. We'll just draw this zone quickly 376850 is the top of the zone Playing this black so 764 quarter It's a PR a PR is now up to 9.01 Here and we tear prices, right? So if I were to short this aggressively I'd be in at 3754 50 I round up on my entries and then I'd be stepping out here. I'm risking 24 points That means I can put on based on my account size risking 2% I can risk basically 3 ES or I'm rounding up obviously or 28 micros So this is you know, this is the most important thing you need to be doing Before trading and before analysis is respecting your account size because if you're trading too big for your account You are going to blow out eventually Can't stress that enough All right, so on the upside here Let's take a look at our Ludwig levels You guys have been on these prior webinars, you know, this is one of the things I use to Day trade they're extremely powerful, especially when you get setups at important levels So we'll come back to Nasdaq here in a second. I think there was a set up in Nasdaq as well What we're was talking here So you can see we're bouncing off So this is an important area whatever way this if this can hold then we're probably had back up You see here. This is yellow lug. This is extreme standard deviation of VWAP and that's confluent with the bottom of this market profile This is a So today composite and you assert more So this is very this is this is a tradable area, right? These areas tops and bottoms of market profile composites major lugs Important areas on the bar chart where we'll go over that as well Those are areas where you want to wait for the trade in the middle of these areas are not good areas You're gonna get whips out of death. These are important areas, right? So I'm leaning short, but we still we got to get out of this to for this tap But if this gets out of this, I think we're taking a trip down here, right? So we just now we have our setup in this area all these setups This is gonna either lead to that or that Again, we're an important area, so let's draw that The newest stuff I'm probably gonna delete some of this because it's starting to get me headache Let's get rid of this stop run More cell ice here. That's another thousand cell ice Let's see what that stretched to So what I'm gonna do is I'm gonna just make this one So, you know, there's always questions on how to draw the zones, right? So I turn off the bubbles I've just learned that recently someone from my room actually helped me with that I was struggling Trying them just to the bubbles because I did not have this last trade of price line on right because when I first started trading with book Ma'am it was annoying to me So I turned it off and then I forgot it was even there but to get to that you go to configure invisible components And then turn on last price. You could have best bid ask as well It's just that's just too much for my brain, right? So I turn that off. No Bruce likes that But I don't right so I turn that off. I don't care what the bid ask is I care what's actually traded, right? That's the whole crux of my trade. I can care less if guys are playing games with the order book I want to see what actually trades you can see here where this spike happened No, you come up here and get your cross here and then you take it down to the spike You can see where the spike happened Actually started way down here or this this price point, right? So you can see this spike started here actually was more over here where the Bigger size started coming in right on that price point, right? So that's Again, I'm supposed to be using my hot keys but That's that that was I had drawn this but I don't think that's right. So I'm gonna remove this And then let's see where this travel to so then you just want to corporate all the all the prices that happen in this spike See all the way down to Basically the spike Right there. That's the new zone. That's a thousand nice and we know we trade off of that But I do know overall there is a lot of volume in this area and somebody is going to be puking here soon All right, so now we have to read draw our zone or re Re-input our zone 3770. So it's basically a one-point zone, which is pretty tight Let's put this in here. I'm gonna go short. I can short at 59 I round out 59 quarter I stop out at 80 Risking three point two seven obviously you can't put any kevin micro as but you can't split this up So we'll just keep three as our As our contract size. I'm risking about 21 points So I know we're dancing around this yellow lug right now So I'm gonna wait for a I also know there's just there's all this conflicting volume in here to see see when we're How I've been trading is if we're above the yellow lug any setup I get I'll go in aggressively meaning as soon as it gets Just outside an ATR. I'll enter the trade long, right? We're below as soon as it gets outside an ATR. I'll enter it short the conservative entry is to wait for Full ATR retest failure and then 10% 110% of an ATR Then I enter and then I stop out an ATR 110% of an ATR on the other side of the zone I know that's a lot of points, but this is you know one. This is a position trading account words You know I gave it more room because I want to avoid the algo nonsense And when there's nothing going on you will get and everybody knows it right you'll get the websites and your favor That's back that is back and it's not then it's back to the side It's it's just I I've learned from watching thousands of these setups The best place to stop out is outside of an ATR the other side of the zone, right? So I I don't let the algos screw with me, right? So Right now I'm in the setup. I just drew I'm gonna wait for ATR retest failure either way I trade this because we're dancing around the yellow lugs. So I don't really have a clear picture We're not clearly above. We're not clearly below you see it pop below a couple times as well So I'm gonna wait for full ATR retest failure to go short for ATR retest failure to go long Which is also wise to in an important area like this kids This can go either way this could hold and come right back up or we can break and come straight down in this most recent profile market profile composite before before this one so That's what we're doing with this and that's barings. If something new comes in then I got to set it up all over again, right? so meaning your ATR right now is 9 9.05 I Basically have to see nine points or nine and a quarter points outside I am waiting for nine and a quarter points outside here I would be an ATR and I'm waiting for retest. I'm waiting for a failure then I'll go short In the same way go long Right, so what if this comes back comes down here goes an ATR comes up here and then does that well the long is now Invalidated because it was able to push more than an ATR away from this volume event again from watching thousands of these I have learned that if the market is able to push a full ATR outside of full ATR away for an ATR away from the vine event That's not that's not what you're looking for Let's you know for instance if you want to be long this should not get an ATR outside of the zone self ends up right? So that's that's how I've traded them And that it's the best way that I've determined to trade them I tell you guys every webinar. This is the science, right? There is no disputing. There was a thousand Oh sell ice here, right how you trade it is the art my art is trading a specific way And that's what I teach and that's exactly how I trade them you can trade them any way you want You can say I'm really ball really bearish here that sell ice I know big papers coming in selling to and again paper is not always right We have a distinct setup called broken ice when they're wrong, right? But you you could say I'm just giving you hypotheticals I love the short here papers selling to I'm gonna short right in this zone And I'm only gonna risk, you know an ATR above the zone, right? You can trade them however you want, but It's advisable that you listen to the way I trade them because I've watched unless you've watched thousands and thousands over the last Three and a half years four years, and you probably either know trade the way I'm trading them to begin with and then as you get more experience you can have variations of what you're doing, right? But this is the way I trade them and it's not because I like risking 20 points on a trade It's because I've determined that's the best way to stay out of the nonsense and stay out of the noise, right? All right, so we're letting that one develop I Fly there was a large stop run here in bonds almost 2,000 stops, which is very large We'll just draw this like that. I'm gonna trade this but You can see it was not many price points either here Be interesting though when you start seeing big size in the bonds, you know a big move is imminent in the equities So this is big size so I'm had a meeting with book map on Monday about the drawing tools. So hopefully we're gonna be getting some More modern drawing tools availability where you don't have to go through 45 clicks to get the colors and stuff like that. So a Nice long meeting. I gave them my input and feedback. So hopefully We're not using Atari drawing tools here very shortly. All right, so that's the your stop run I'm probably not gonna trade this I got enough going on but That's the area, you know, you trade these guys. It does not matter what market you're trading futures market It's all the same stuff. It's volume by and drives markets you trade these the exact same way you find out the ATR and You know, you can come up with a thesis with your structure But you know, this is the driver and then you trade off of this and that it's the same stuff I don't care what what market you're trading wheat bonds soybeans. It does not matter It is volume. It's caught traders. That's what we're looking for. So like this one. I obviously missed I don't know what I was doing on this. That's supposed to just gone off here Let's I will draw this because soybean is one of my best markets favorite markets And and you want to be watching multiple markets I know a lot of people think they don't have the bandwidth or know they don't have the bandwidth to watch multiple things But you know, you're all you're really doing is waiting for setups, right? So, you know threshold setups only occur in markets most times, you know, three to five times a day Normal threshold if there's days like today where stuff keeps firing off and it's like well above threshold Well, then you got up your threshold, right? So that's one thing that you know, you got to pay attention to but my point is you can watch multiple markets You're not gonna be getting you know for 85 signals in a day But if it markets suck like these equities like right now like you say head I want to trade when a fed guy's chirping I'm gonna I'm gonna pay attention to Grains or crude or you know, I mean crude and gold will be affected by the Fed as well, but Lesser extent soybeans and the grains but you can if you have other alternatives You're not forcing trades in crappy markets, right? And this is a great alternative. So let's just take a quick look here our parameters This is a spreadsheet to point three eight is your current ATR you can see it there right in the middle. So I'm using it 14 That's natural gas that's the number coming out So 2.27 is the ATR right now. So let's just enter this in real quick so we can get our exact values So I'm not guessing at prices All right, so I Wasn't gonna I didn't enter aggressively here But if I would have entered aggressively I would have just let this fill and then I would even with the new setup And then I would trail my stop based on this newest setup But I did not get in and I'm not playing retest failure for this setup now because something new came in so now I got a I got away, but now I know we're clearly below the yellow lug Now I could trade this this recent setup aggressively. So we'll go over that meaning the minute it gets to outside of an ATR out Of this area. I'm gonna short it. I Wasn't doing that on this setup up here because we're right at the yellow lug, right? And then that's where it can get real choppy So let's do this all over again. Then we'll Look at soybeans. These soybeans is a slower mover. So we got some time. I would think Once again double whammy Which by ice 1500 It was only 700 700 sell stops too. So Sure, I got that drunk correctly. I do not this looks like a black zone But I'm not but it wasn't working there All right, so this was the bottom of that and I'd like to color my double whammy's dark blue just so I know what setup it is And this is annoying to watch but you can imagine doing it 85 times a day That's that That's that All right, so now we have our most recent sound. So there's a double whammy up here Some sell ice, you know, there was a stop runs and now there's a more ice here again that the move out of this area is going to Very very likely be a whopper Let's remember 60 65 50 is the top of the zone and 59 75 is the bottom of the zone Put those values and I'll come back to soybeans earn ATR is 9.15 So now we have our new crisis right so now As you can see First of all, we're still a little over so with this edge product This is delayed this delayed five minutes. This is the real time so you can see we're not over so anymore This is just showing you all 500 stocks in the mini s&p. How many are above or below their five minute task boxes And it's just mini market profiles. So this is when it tells you when you see the red above that line I mean, it's extremely oversold or green is extremely over but Potentially come back to that Confused you guys right now. So you can see we are we are still bouncing around the show a lot But we're below it and I already know Based on my thesis stuff. We just talked about the bigger picture and we're breaking down out of this So I will short this aggressively if it breaks below the zone meaning I'm not gonna wait for ATR retest I'll still go long to go long since we're up below the plug I need to see the full ATR the retest the failure 110% of an ATR then I will go long All right, I'm just letting the market tell me right. So my entry here was short aggressively. It's a hole in the spreadsheet 37 49 75 I'll round up for my entries. I can put on 2.63 so I'll still put on three And I'm risking basically 26 points of risk, right? But the ATR is what determines this risk So I mean the markets are pretty baller right now. So, you know, this gets moving in my direction I can make multiples of that That's the goal. I think so 37 49 75 That's where I want to the short. So we'll watch that Any questions first on anything I've talked about so far? Yeah, just a minute look at soybeans here, too, I didn't want to miss this trade look at our lugs real quick Yeah Wondering if what you might have inferred from that move in the ZB in the Vons I haven't inferred anything yet because I haven't really done anything. Let's look at All I know is Lug-wise it's looking Irish, right? So came down tried to hold the blue lug didn't we built new lug with levels So when you build new lugs If you know it should hold prior blue directional yellow if you think it's gonna make a move back up You can see it couldn't even get anywhere near this and now we're back below the yellow So this is telling me short right here, right? Just coming up with thesis, right? But I let the real-time by him confirm my everything I'm talking about On the bigger picture. I'm gonna have the zones drawn here, but we can take a quick look here So this is looking Irish as well, right current structure balance Let's break out. What should happen? Should do that Back You There in a second to this this should have held Through here. No dice. This is an official fail breakout and you can see there's nothing here structure wise This is showing me that that's gonna happen I mean I just come up with my thesis and then I confirm it with the volume, right? So if they line up then it's go time Especially, you know Important areas like the shorter term stuff like the lugs and stuff. I already know that looks bullish, too Right, so what you can do here since we're below the yellow log ATR is 19 I Forgot how we did this. It's like a point one nine after 31 I can't remember how to do it off them. I don't trade bonds very often I keep an eye on them, but the bottom line is you could short this this is looking bearish It's looking bearish from the bigger picture at the lugs and this was able to obviously poke I'm assuming this is an ATR, but if this gets a full ATR below here That's bearish as well or you can wait for that But this was the volume of that and we're below that so I it's looking like bonds are gonna move lower You know in the old days the equities would move opposite of bonds Recent years they they move in tandem. So I don't I don't use that to base my judgment Right, I do know when you see big size coming through there and the SI indicator a big move is imminent and equities So that's all I need to know, but I'm letting this volume tell me what's going on I don't say all their they're selling bonds. So I'm gonna buy buy. Yes, that's not how I trade, right? And I'd let the real-time buy and tell me what's going on All right, so we just heard this I was a step run and weak and first I just want to make sure I'm just straight here. All right, so with the lugs here in wheat, I Mean now beans We're below the yellow lugs. So I means I can enter Short aggressively first and foremost So it's like so this is interesting as well, right? What story are you getting from here? From the market profile. Well First of all we gap down overnight and we open in this prior market profile composite when when markets get into prior composites Right on cue the tendency is to get to the other side. So my thesis right now is That's gonna happen, right and then look at this This looks So it's just like bonds But you can see now what what do you see here? Like this is this is really important what's going on here, right? Like shorter term Yeah, it looks like a smaller fail breakout kind of like we just saw the bonds right a little bit of balance here And then tried to hold I buy you know and just gap down from there We just saw that gap but look at the look at the bigger picture This is what you need to know when you're trading. So you're on the right side of the trade you see that That is the ultimate balance area. These are traders placing bets on the next move Where are we we're below that? How are the longs feeling right now the longer term longs? They're not feeling very good, right? So in this situation you do not want to be taking longs I don't care what if you get a long signal on the SI indicator if I do I'm not taking along, right? This is showing me do you really want to stand in the way of All this all these longer term traders puking out of this this is you know If we get a long signal in the middle of it, then you trade it accordingly But right now I will not take along here regardless and I'm just looking short if I get it short Then it's real go time. You're going to see so the rule of thumb is when you get a balance area The market generally will move a 100% of what the balance area range. So this was basically 13 1360 so that's 140 cent move you can expect 140 cent move out of here Eventually, you know may pause a little bit, but because that's these guys puking. That's how you have to view the markets It's very simplistic, but that's what's going on. Just me So and we gap down right so we already know that looks ridiculously bearish and now we're accepting in this prior market Profile composite Just take a quick look at what that is It's from back here. We tried it up in three or a few times, but this is still important, right? This is back in early July. I Don't care what it happened. I just know it was a composite and I know we're accepting it So all this is pointing bearish to me like big time, right? so But what just happened here? Well, we got new size, but this by ice held right That's not bearish obviously Now we have a new some some cell ice coming in so I'll draw this in a new zone So the point is this thing's just not ready to break yet, but I'm not going long This is a rare exception, right? I'll usually take these setups regardless just based on the lugs and the way they're trading them But in this situation, I'm not taking along You know when I'll take along is when this thing can prove it can get back to the high vine note of that of that balance area That major that's when I'll that's when I'll consider Longer term, you know a bigger type of trade this can get back through this then what's that when we've been talking about this all morning That'd be a fail breakdown. I want to be long through this above this zone That's where I want to be long. This is not a good area to be long just imagine You're the big trader are you feeling right now and this thing looks like it's going to do that You're ready to puke everything out This is not a good long area It doesn't mean it can't come back when markets break down out of balance as many times I'll come back to the bottom or the high volume note and I understand that but what are my odds and my odds better of that happening or that Happening, you know, I don't want to I just don't want to take along in this situation is what I'm saying I'm not going to and if I get long setups, I'll watch them and I'll wait for the short setup And then I'll get it if the long set. This is what's so this is the beauty of real-time volume guys Hey girls like that looks like it's gonna die anyone looks at that chart I mean I can bring my 12 year old daughter in here and say hey What do you what do you think is gonna happen here and I explain a little bit of it? Oh, it's going down, right? So how many guys are getting short right now on that on that chart like oh my god, this thing's gonna get killed, right? But guess what? The most important thing is telling you it's not ready to break right now So everyone right here who thought this thing was gonna die that are it is not using book map had no idea that 300 by ice came in and now they're eating, you know the eight nine cents Shove down their throat like what's going on this thing should have broke well If you have this information, you know, it's not ready to break and you could you know You could go long this is a setup that you could have gone long But the point is if you if you don't have this information you have no idea what's happening. I have this information I'm staying out of the way until I get a short setup. See how that works That's why this is the most important information you can be using in your trading Bar none. I don't care if you're the best technical analysis Analyzer whatever the word is This you don't have all the information if you're not using this period It was just there's no argument. You don't have all the information if you're a great, you know, you're great at technical analysis You'll be even better using this right? You'll be ten times better in my opinion. Let's draw this If this person will bullish setup great, I'll let it go not taking it if it's bearish. Let's go time After everything we just talked about so that's what I'm watching here Let's quickly put these values in 57 and 56 nice tight zone as well Completely lost track of what's going on in ES one real quick. I'll come back to soybeans here in one second All right, we'll be able to get an ATR above here Real close. Let's see 9.31 so the top of the zone was at 65 50. We only got up to 73 quarters That was just like seven and three quarter points so that did not get an ATR above this zone yet So this is still I'll still trade this on the short side if this is able to get nine points nine and a quarter points above here Then this is canceled and that's potentially a bullish setup So still keep an eye on that Let's put his own in here and T7 and 56 are your prices here As a dummy factor where if you put it in the wrong column it tells you you're being an idiot Which I get all the time 76 and then put in our ATR Lost that shirt Sorry guys, it's hard when you're using one screen then you lose track of your 2.40 is your ATR So put that in I'm not going long, but I'll be short All right, I know we're below the yellow log so I can enter this short Sorry wrong wrong strategy 1353 50 I round up and I can put on six based on my risk. I'm risking basically six points I can put on this actually this is wrong 11 actually for this risk So I enter at 50 and I stop out at round up on my stops 59 75 53 50 I should say so I know I can put on 10 I'm getting this is an aggressive entry just this a hundred and seven percent of an ATR That's what that value is right so that is set ready to go as long as this doesn't trade a full ATR above here I'm going to short it if this does get a full ATR above here, then this is canceled Because my it should not be able to get a fully if this is truly bearish It should not be able to get a full ATR above here then I cancel it and I wait for the next one If this was a neutral setup a neutral area on the charts I would trade along in this situation, but I think I just talked about I'm not taking long So I'll take the short or it's going to be canceled This is able to get and I'm even going to put a alert here, so I know to cancel this order So it's 2.44. So basically two and three-quarter points It's 59 75 coming to cloud notes Notifications, so if that trades there we get a nice little pleasant sound and I know to cancel that order right and if I get filled I have a sound on this actually to that tells me my foes, so That is locked and loaded Yes, it's completely gone quiet Crude action go there right so this is the whole point this markets completely died I guess they I guess nothing goes on when that you know one of the 45 feds guys aren't talking So I'm sitting here watching paint dry in there potentially forcing trades. I'm sure some of you are so first of all that is Looks like an ATR above there. What do we need nine and a quarter points? That's 74 75 That's an ATR that is canceled right my short idea is now canceled Now what will I do now I'll go along if if this Comes back retest fails I'll go along I may miss it. This is my this is the way I trade right. We're below the olug. I'm not being aggressive My point is you know if you're waiting for retest you may not get it sometimes and I understand that right But I know the safer play in this situation is to wait for that especially with the market profile composite everything We're talking about so and if I don't get it if you miss it you miss it There's another setup right around the corner like this one right So now we just draw the new one that one the old ones invalidated and I I'm thinking about deleting this zone, but it was such a big zone important zone as far as size wise I'm gonna leave this in here this first double whammy. It was like 2,000 bias So but we can draw this my threshold for ES is 500 stops This was obviously over threshold meaning amounts that I will trade off of that are important again That's from watching thousands of setups that I come up with the thresholds for each and every market That's part of my course where you you know because 500 in here is Or so say if you got my threshold in NASDAQ is 150 150 yes means nothing right So I'm not trading off a 150 in ES that's like it's threshold right so you need to know your market and what's a relevant size What's not right? So this is this is my threshold for to write at my threshold for stops in ES So that's just most recent stop run so we're gonna see how this reacts to this zone See where we are in the lugs This is basically just bouncing around the chill log right so that would have been pretty aggressive going short there anyway But no this is now. This is officially above the chill log. So I'm gonna take this Long if this rips up higher, I'm getting an aggressive. I'm getting an aggressive I mean, I'm not waiting for the ATR the retest and the failure. I'm just getting in right away And what just happened here this Show you that this is bullish right now short-term Right. I was thinking we were gonna break the volume told me otherwise Did you see me put on a trade? No because the fight the volume didn't allow me to put on a trade I thought especially when we broke down through here This was gonna happen How many traders saw that and got short well, guess what I didn't get short because my volume events did told me No, this is not a she this got an ATR above this first zone, right? That's not a short That's not giving me confirmation of the short You see how I just avoided a loss and guys avoiding losses are just is just like having a winner Right because if you take a loss, it's gonna take you basically two winners to get it back, you know Hypothetically so avoiding a loss is just like putting on a winner, right? So I I was all I was ready to go on the short side there, right? We just talked about all this what should have happened this thing should have just died No, and once again, we just put in a buying tail. So This that should not happen. You certainly shouldn't be getting bullish setups. That's telling me now That's gonna happen, right? I was this is what trading is. It's if then scenarios You you're waiting for something if that if that doesn't happen, you're ready to go the other way Well, that should have just died with them. Why if it's gonna die, why am I seeing bullish setups, right? So here we go. Now let's trade enough of the chirping. Let's put this in 3782 3779 I'm sure why that's not right at that price. Let's see what I did wrong here Actually that started more here, but that was only this was the worth of buying the threshold came in Actually, it was up one you see right here. This is where you want to do this spread it out and then use your cursor that actually started up here So I got to change the zone proper zone. That is 3779 75 and 3782 go up here You are is now 9.44 so it's increasing Now this tells me my exact price. I could enter this so we're going above the zone I can get it at 92 quarter I Round down on the entries and then I stop out at 69 quarter risking 23 points. I can put on a three lot, right? So now 92 quarter I get my order set up and I'm ready to buy that aggressively if this gets out of this zone to the upside And now we're just bouncing around So that's where I hope this is the aggressive entry, right? We are above the yellow lug. I Trade these areas aggressively in the direction of you know for above the yellow lug or below yellow lug We're above it so I take my lungs aggressively meaning I'm not waiting for that I'm just getting in and based on what I saw down here that gives me even more confidence where like I said You on every setup you could wait for retest failure, but some of them you're not going to get kind of like this one Right if you were waiting for the retest failure, you you're out of luck, but you know, that's that's mine This is just there's another setup right around the corner You don't need that you don't need to fret over missing something. You're there's thousands of subs in your future, right? So just let it happen So I will trade that to the long side aggressively So it means obviously nothing has happened since we haven't heard anything yet never got an ATR above there I'll still short that aggressively. We're gonna look at crude Any questions Bruce? Let's see Yes, hold on So you can see the stop run in crude my threshold includes 150 that was threshold 159 meaning I can draw it and trade it If it was 140, I wouldn't trade it 110. I wouldn't trade it. I understand some of you have my course back Well, I made that course in the summer of 2020 and the threshold was 100 or 110 back then I have since Released it, right? So you have to adapt it's not that oh, I made that course. I got to stick with it If I keep seeing you know the hunter is not work as well Well, then I have to have my threshold right and that the official threshold in crude is 150 now So if you have a course and you're like what the hell I haven't trained up 100 Well, then if you're in my trade room, you definitely know that information But the new course will have all updated thresholds and it's gonna have a sweep indicator It's gonna have a bunch of stuff that's just taking me forever to get to obviously But you know either come in my room or you can wait for the new course And you know if you bought the prior course, you're gonna you'll have a deep discount to the new course So when I sent out the mess email if you already bought the first one, you'll you'll get a discount a deep discount to the second one If you're a member of my room and you buy the course as an active member and when I come out of the new course as an active member Then you get the new course for free. So that's one of the perks of being in my room among the hundred other things Like the spreadsheet and please don't send me messages asking for the spreadsheet that is part That's proprietary and that's part of the paid membership of my room. That's what they get, right? Like I I share a lot of information, you know through these bookbap webinars, you know But there is some stuff that that's what you get if you're part of my room All right, so let's set this one up 8872 8862 if you're They also they also get insights to incredible rants Yeah, and verbal lashings So if you come in there and you're a clown and you start throwing an idea like I just shorter that I just got 20 points Or I love the short here. I love long. Well, if you can't put why you're doing it It doesn't benefit anybody in the room, right? So I it's not a room where you're bragging about your trades, right? You can brag about your trades all you want, but you want to what I want is I wanted to be a learning experience To make great traders, right? So if you have a winning trade will post why you put it on where you put it on why if you know if it's after the fact Mine guys start to complain about that too like people just showing their winning trades after the fact But if you can show why you did it, that's valuable, right? Nobody gives a flying. You know what if you make money trading unless you're splitting your money with us, right? If you're if you want to if you want to share your money with the room Then everyone's cheering for you when you make money But no one really cares if you make money or lose money, right? But they what they care about is if you have a strategy that works That's what I want to see in my room, right? And I'm always open, you know, I never jumped it You know, how do you think I added the lugs and stuff like that? It takes me a long time to add something new and I have very few things I trade off of But if I see relevance in what you're doing and it's it's worth it, you know for the room Then go for it. I'd love to hear it. I may be there Maybe some something out there that I can enhance my trading with right? So I'm not shut off to new ideas, but I have to one I have to watch them And I this should go for anybody in here, you know, everybody's always looking for the shiny new indicator the holy grail, right? I'm not saying there's certain things that can't help you in certain market conditions but you better go back and test the trade and this is the other one of the Hundred things that is great about book map you can go back and you can take the dated feed Which I offer my room as well for all these products. You have them on your computer, too For whatever products you're watching but you can go back and replay the day you can fast forward it So it plays and you know ten times a hundred times the time so on and so forth But you can practice it So if you have a new indicator and you want to see it worth replay book map and you know real time It's not real time but play it like it looked and then test it But don't be just throwing stuff on your chart because one guy put up a winner anywhere Unless you can validate it for yourself, right? All right, I'm starting to ran again Let's just get this set up So first and foremost, let's check we already got that in the ATR in here is 29 and put that in 29.1 So let's take a look at our One structure, right? So This is an important zone right, so This was an area where this market gap down that eventually led to all of this. This is the first time back, right? So this could Be a stopping point, but what is what is the determining factor right now? Well, yeah, this is important zone But guess what it just built two days of balance three days of balance That wasn't two days there wasn't three days about two days or just yesterday. Maybe I can't really tell right here But yeah, I'll tell you right now just so we can be official So it started on 10. Yeah, this is one day of balance, right? It doesn't matter I mean it yeah the bigger the balance the more important is but the point is this is a range This is balance these are traders placing bets. Well, is this a great short right here? Remember how I just said I didn't want to short soybeans below the balance Well, this this isn't a huge balance, but you've got loaded up traders wherever short here is like Oh, this isn't working. So is this a great zone to be shorting it? No, could it fail here? Absolutely could fail here, but it's not as strong as like a straight beeline move in to an area And we've seen this a couple times in gold in my room Thank you, December, I ask for a buy-in queue. 151 contract Coming there in a second. Actually, this is a fine minute. Well, let's see how early I'll end So there's a difference between coming to important zones whether you're just sitting like at the time This was an important that got shorter this one the other night I can't this is gold. I don't even want to start looking at gold But the point is if you there's a difference between having one like a straight line moving to important zone Those are the best shorts ever versus building balance right before his own See what I'm saying. So this is an important zone, but it's not a great short area if this happens Once we get through that then that's a very good short area, right? So this is kind of iffy is what I'm saying. There's no like it's not slapping me in the face Which way to trade here, but then I have the real-time buy-in so I'll let that tell me right We'll come back there in a second. Let's see what's going on here I did not get filled on my aggressive entry in ES yet and you just heard something in nasdaq. Let's see what's going on in here For a shoulder nasdaq all right filled on my short end soybeans Never got the ATR above so I was willing to short it. We already know the thesis is short, but I do know This is actually we don't need to guess. Let's just go to our See where our stop is now I'll come back to nasdaq. Hopefully it will wait for me Now with this ATR just to make sure the ATR is the same it's 2.55 now. Let's put that in There and I can stop out at 59.81 so I round up so 59.60 is my stop Just basically right where that is All right, so that is my short and there you can see what's below as well We already came up with the thesis of short and then look where all the liquidity is Remember this is not showing. Oh guys want to buy this. I want to get long No, it's this these are magnets. These are guys that want to get filled and the longer it's in here The more they the more they want to get filled and they will get filled because they are the big players And they can push the market into the orders when it gets close enough So that doesn't mean you just automatically short, but this just bolsters my thesis right So I think I'm on the right side of the trade if this comes back then stops me out On to the next one, right? That's what trading is guys You're putting yourself in position with an edge and then you take the trades some are going to work some are But if you have an edge, they're going to work more often than they don't and that's all trading is It's nothing more than that right and that's why it's not You're going to make a set amount every day because every day is different You're going to have some winners some losers But if you have a true edge and this is the best edge I have ever seen in my 20 plus years of trading Then you know if you just keep taking the trades over the long period you will be profitable That's what trading is every webinar like an economic casino is the same exact thing They know mathematically they have an edge. They don't care They care but they don't they don't start changing rules and and giving up if they get smoked by a By a big player because they know over the long run They are going to make money because they have an edge. This is the same exact thing If you trust it and you understand what you're looking at. This is the ultimate edge So you just keep taking the trades some are going to win some are going to lose some are going to be really annoying Some are going to be ticked you're filled to the tick just like you know, you've seen your whole life Nothing really changes in that aspect, but you know You should know Especially after watching me after all these webinars that this is the ultimate edge, right? All right, so this this is interesting, right? This is showing now ATR is wow 37.66. Let's put this in quickly Go through the whole process again top of that zone was 16 11 11 6 to 41 50 ATR in there bottom of the zone is 32 11 6 32 So we got that let's check our lugs Where is my load? Above the yellow lugs. I know if I want to go long aggressively I can Right, that's my rule If we were if I want to go short to set up which I possibly It was looking like it. I need to see so that's the setup I need to see the full ATR to retest the failure and I could go short even though we're above the yellow Where we had here no man's land smack dab in the middle of Market profile composite, which is where you get chopped to death Especially at this time of day 10 o'clock to 12 o'clock. You're asking to get chopped. What am I seeing here? I'm seeing the same stuff that I saw in ES, right? You had balance You broke down you came back Fail breakdown this market should have done that instead. It's just hanging here. This still looks Barished to me, but I need to see the setup to confirm it, right? So I'm still leading you can see this keeps failing in this zone, too You had directional conviction here Selling tail led to this down. Oh Came back failed came back tail failed tail failed Now if this market's bullish this thing should have ripped what's going on here, right? So that's my thesis. That's my conclusion It's if that scenario right now. I'm saying this should do that Oh But I need the real-time volume to confirm it which Let's check see where the out far down I got so that 16 32 50 Our at what ATR is uh 36.5 now So that got more than an ATR below there, correct? If you're my trade remembers are on here, you're looking at our One of our strategies right here working in your favorite nicely. So this was 32 50 down to 92 50 That's 40 points. Is that outside of an ATR? It sure is. Is this now a bearish setup? It sure is But we're above the yellow lugs. So what was I waiting for ATR? This is actually two ATR No, I was a full just one full ATR take it back one full ATR Re-test now if it comes back, that's where I'm shorting and my stock goes 110 percent of an ATR above it, right? I can't tell you how much how many times this pattern happens in a day across all markets, right? So there's your retest if it gets within two points of a retest I count that as a retest That got up to That was three points away still Two and three quarter points So that was actually not an official retest. So I I don't like having question marks in my trading. I do have my rules Let's just see here because the ATR is bigger. So The way my official way of doing it is if it gets within 10 percent of an ATR, right? So we can see right here What we're doing the version 628 23 628 11 628 is your 10 percent of an ATR in front of that zone So that was the official retest You see this would have been an official retest based on 10 percent of the current ATR, right? So two two points I was using as the standard, right? But the actual dynamic way to do it is 10 percent of an ATR Which would be 3.7 points, right? Because it's there 3.6 points. We just saw the spreadsheet is 28 So that is an official retest now. I can go short Right Where do I go short? Well my spreadsheet shows me it's 110 percent of an ATR outside of the zone I can go short at 90 I'll round up 90 75 and I can put on 1.84 and q round up to get this ready to go 90 75 is where I will enter this short That would be a hundred percent 110 percent of an ATR below that zone. That's where I was shorter. That will be an official ATR retest failure 110 percent of an ATR. I will short on my supple but We'll put there and it even shows me where my stop will be on this spreadsheet my handy dandy spreadsheet that someone Jay Labrata from my room made which I can't thank him enough. I will stop out at 82 93 So you can see what I'm risking here. That's a lot of risk. I understand. Well, I cut my size down based on that risk Right, and I know if this is right, especially what I'm looking at Structure wise this this could be a two three hundred point trade to the downside And we had a long way down to the blue log 85 All right 385 Locked and loaded for that See what happened in the s Never got the ATR above there. So this is still a potential But we are above the yellow log on this last setup, right? So I'm still just like I did with with nasdaq. I'm waiting for the full ATR retest to take this trade Does that mean it's going to go retest? No, I'm that's how I'm trading it though If I miss it, I miss it. There'll be another setup right around the corner and I know I'm going to be short nasdaq anyway So if it does die, I'll be mad. I didn't put this one on but I am nasdaq on so So what do we need to see here? This never got an ATR above here Right and only got about seven points above there seven and a half points the atr is uh 9.48 So my short is not invalidated. So now if we get nine and a half points below here This was at 79.75. So basically 70 quarter retest fail Well, who's short There is a chance it doesn't retest and like I said, then that's fine because this those are my rules Any questions Bruce? Of course, I got filled in. Hey remember we talked about the tick out. It's it's just it's astounding. Look at that And I even went 110 percent on an atr and I still got ticked This is the stuff that drives me crazy as you guys have heard many times, but It is what it is filled stop goes in at 82 83 683 8th trader was asking about your enqueue course. Um, that is on the Uh, if you could give some insight on the enqueue course that's on the book map store Yeah, so enqueue course was made by my partner at the time back then. Uh, he's since moved to Italy. He's actually The big horse trainer. So he's I don't think it's trading currently, but he was an expert at the NASDAQ. So it's um, I've got Rave reviews about it, but it's it's about the About how he traded it and all the idiosyncrasies of that market There's so there's so many different idiosyncrasies that you can You know, you could apply to this stuff, obviously But this is not what's in that course that it's more of the way he traded it and he was an expert at trading it, right? So, uh, it's it's a great course and I I do employ some of the Aspects of what he talked about, but it was made by my partner Nick a couple years ago, but it's you know Every every person that's bought it is not every person But I've gotten a lot of emails and how helpful it's been for them. So that's what that court of course entails But it's not about the SI indicator, right? So that that course was actually made before the SI it's about book map and now I use this book map to trade it But it was before the SI indicator even came out So but you can employ his methods with Stuff in here if you wanted to focus solely on nasdaq. I don't Agree with focusing just on one market because you're going to be you know If you're if you're trying to make a living at it because you're going to be forcing trades But you know, if you want to specialize in a market, there's nothing wrong with that and that's a great course to specialize There's a lot of nooks and crannies in there that you would have never Never thought of Traded the nasdaq All right, so we're Let's see the atr in here is 27 That by most almost 62 we did not get an atr below here We got 23 ticks below here. Actually take that back That is Real close to an atr Look at the looks actually this setup. I need to be in aggressively So I take my I know we're above the Lug My one exception is if we get setups at the red lug or at the major lug So I'll go long aggressively at the blue. I'll go shorter. Good. That's how powerful these things are I can show you chart after chart after chart just last day of markets bouncing off the major lugs So my rules are I actually get in Aggressively which would be I think this is I think I set this up did I not This is down to 27 By Well, uh, 88 62. No, that's not right Is that right? Yeah, that was the bottom so I should be in aggressively at 88 32 that's honored to 10 I could trade five MCL so I would not have been filled it didn't touch 32 yet. So that's where I will short that market right because I was way potentially waiting for an atr retest failure, but this is the red lug I take these shorts aggressively out of the zone. So I'm going to short that aggressively I get filled and I'm going to an atr Which is 27 ticks above that top of that zone, which would be 99 88 99 is where I would step out and I could put on five based on that risk Hey, we got a little bit below my fill price. So I can't complain about that That's pretty sad when all you can share for is that you don't get filled to the tick I think I've pretty been pretty upbeat today though No, not a lot of complaining granted not a lot of trading but all right, so You heard all that ice firing off 700 and another 800 came in right after that All right, so I'm gonna clear out. I'm gonna clear out this double whammy because there's just so much that's gone on since then We'll keep this lower one in for now just to have an idea. I'm gonna clear this out, too So remember the way I'm trading I'm trading the most recent buy-in event AK setup, right All right, so you can see where this came in Use your cross here and just basically track where it came in you want to incorporate out Yeah, it started coming in here But you can see the price went up to here and it was still in the spike down here All right, so you got to incorporate that and it came down to there Ether Bottom of the zone Change the colors for buy ice Because there's a lot of zones in this area with the same color But did you see there how my rules kept me from going long there? Right, I never got long because I didn't get it and I'd be Taking it down the chin right now, right? So for my rules. I've never entered that long right, and I'm still bearish Overall like thought-wise, but until I see a bearish setup. I'm not taking it So this is what the beauty of this like I said, you know, you're not forcing anything until you see actual volume setup That's bearish. I haven't gotten it yet. I got one in azdeck, but I haven't got one in es yet So this is officially canceled because we did get an atr below there, I believe Or did we? Well, actually it is canceled anyway because we have a new setup take that back So this is done But now I can show you off of this newest buy ice, right 76 quarter is the top of the zone 73 quarters the bottom of the zone So I'll go through the whole process again. It does get annoying when there's a bunch of setups, but I rarely have a bunch of setups and nothing going on and be aware more fed chirping at You guys can see this right here. I just I just don't understand what's happening over the last For many years why this is going on look at this One two three three fed dudes and then a bank of england All right, and then you have biden So this is probably a time that you don't want to be trading unless you like getting whipsawed to death That's really important to know right so you're not You know one of our one of the trades that we're trading I don't even trade it when guys are talking. It's just it's just you're just rolling the dice because it's new information like we talked about This market is an absolute Whipsaw city right now, I don't think anyone's talking but it's trading A little ridiculous. All right, so Let's check our lugs. I'm already shorting as that that's not going very good right now But I got you know my phone my rolls All my rules this thing's got to get Full atr outside of the zone to stop me out. Otherwise. I just I don't let these algos screw with me right and you can see here This is algos city, right? This is why it's so choppy right now. This is another thing you want to pay attention to We talk about all the time every single minute in my room basically look at this volume in the nasdaq So this is relative volume. This is the hundred percent meaning it's normal for this five minute period or these five minute periods Look at that. It's barely it can't even make it to normal So when you see volume like this, you you better be is either you leave your computer or you're ready for the bucking branca whipsaw algos It's a little better in the s but not much Right, so when you see that it's no real big money. It's not playing right there. It's just this I know there was some bias, but overall it's out of the city But that's why I place my stops where I do so I don't get whipsawed out of my trade Until this can prove this can violate this this volume event And more than an atr. I'm staying in it unless I get a new setup trade this Atr on here is 9.54. So we need nine and a half At least 93 quarters This is definitely that's an atr. So this is now potentially a long setup the olag I maybe should have been getting in this aggressively. Hold on. I might have missed a trade here Or above. I just missed a trade there. So I should have been in that's upsetting I was thinking this went back below the olag. So I was waiting for a retest 76 quarter. Did I already put this in 73 quarter? This hurts too because this would be a nice hedge for my not that I trade that way Yeah, I didn't put this in 76 quarter and then the bottom was 73 quarter Yeah, let's put this on here is on 9.66 I should have been in this is the buy side right 87 and I can put on three So That really hurts Like big time All right, what I'm gonna do here because I would have been in anyway So if I get lucky and this comes back to 87 I know something new just fired off But I should have already been filled on this So the way I play this is I would have filled and now there's a new setup Now I can try on my stop based on the new setup. So I'm not risking this much So I'm hoping this can at least get down 87 probably won't because that's just how it works This is your new setup Even more because this would be a nice edge for my short and in queue Come on you can do it Back down there. This is where this the threshold size came in. So that's your zone And hopefully I get filled on I'm going to show you how you trail your stop based on the most recent volume of that I could still go along here off of this setup, but obviously it's going to be way worse price It's going to be over 10 points worse Just go down and fill me All right, so if I don't get filled there, well, I know we're above the yellow I should have known that from staring at it all morning, but You're new See I drew that That was right off. That's why you want to zoom in sometimes if you're not on exact prices Did I just sell that I wanted to buy it. What am I doing? Hold on Here come the errors So I wanted to I put it in as a sell like a moron Goodness gracious. All right now I'm long It cost myself a couple points there, but I'm long. I didn't want to go short. I want to go long Now we got a new setup anyway, so Well, a lot of volume in this area I don't know if I mentioned that earlier whatever way this breaks is going to be huge all right, so I'm just going to get rid of this that I just spent all the time trying I love how you guys this is my life with these errors lately. I've been making a lot of mistakes Like putting in sells for buys, you know, it's my it's my first month trading. So that's that's allowed, right? All right, so 85 I'm sorry 800 800 sells sell ice there. So let's draw this zone and now I can trail my stop on this long based on this new setup Right I'm going off the second one because that's threshold All right, so I'm doing positions on now too obviously because of the uh, I'm sure advanced act, but It is what it is So now what I can do is trail my stop based on this the bottom of this new zone, right? So we got 89 quarter Just see our official stop-out price As you're new to trading and this is going too fast for you, it's understandable But it slows down in more webinar and I've got hundreds of webinars on a book map and I do this By today in my room, it slows down trust me. All right, the car is 9.47 My official stop now is based on the bottom of the new volume event I got long off the first one, right? 77 This is whips off city though. I don't know if you guys have noticed if you're trading it You're probably getting very frustrated. I hate stopping out in the front of zones like this this prior zone, but I'm not gonna risk another five points. So if it stops me out, that's fine. I'm still shorting has that so Doing positions. This is a complete chaff fest. There's no volume going going on here Like I just showed you guys so trade at your own risk I just got filled in crude ATR in here. We already know see all you gotta do is like this is the great thing about this spreadsheet You don't have to be guessing prices. Just make sure your ATR is correct. ATR is still it's 27.3 When I stop out for this remember, I shorted aggressively right there. My stop out is 8902. I was able to put on 5 No, I just let them work. Whatever happens happens on the next trade. I know I have an edge You just keep putting them on right as long as you follow your respect your loss rules, right? You may on certain days, you're gonna have three three losers in a row. You're done if you're trading 2% Right, that's just how it works Are there any questions Bruce? I know that might have been a little confusing there and missing the trade and then putting it on and putting a sell-on on accident, but Yeah, no sozo is asking You can rewind the video sozo like bo is saying here, but maybe you could just quickly show the Ludwig level for the setup in cl the big big red Yeah, and yeah, he was just wanting wanting more insight around that Yeah, so I go aggressive so you can see here. This already did the retest, right? So Regardless now, I would be short this if this comes back down, but this is the usual I don't know how I got filled there This is the pattern over and over and over TR retest so if this gets below error, I would have been short regardless, but I got short aggressive here Because we were off the log and I trade I know how powerful these lugs are again I can go market by market, but you can see here This volume setup That I'm trading off of It was right here And there's extreme standard deviation as well um kind of close to the top of this profile, but I got aggressive all for that luck because again anyone who uses the lug Ludwig levels again go to It's not on my Almost everything I use there's discounts on my web on my website Just go to my website click on the banners for this if you want She does a three day free trial do that put in the the information box when you sign up for the trial You saw it on book map webinar and she has special pricing, but you gotta go to her website Ludwig levels.com So i'm just showing you guys like how powerful this is very ridiculous. It's just Over and over and over in all these markets, right? Up to the head above try it again On the yellow Close down to the yellow I mean every market I show you it's gonna be the same thing They're just they're that powerful, right? So that's why here's nasa the same thing This is why I take aggressive shorts with volume signals, right? I don't trade these by themselves. You could but you know Volume is I don't know if I mentioned this the volume is the most important part of the trading, right? So that's why I wait for the setups there I mean, I could pick any one of these markets. It's just the same stuff. Let's see ng actually And you know when they do puncture many times the relative volume is higher and then you draw new lugs And you can come up with a thesis watch the video It's posted on my youtube And it's posted in this room all over the place like How how you can come up with thesis based on how it draws new lugs on and so forth But just in the very basic sense these are support like look at that Look at that you just Blindly you say I'm gonna buy I'm gonna buy the blue log. I'll risk an ATR and then I'm gonna hold it till the red love Look at that Every market it's not just certain markets, right? Whatever I told her I told you she has a divine calling Whatever her inputs are and they're not pivot points, right? We had some claw in my room not too long ago like besmirching the love it's insane. They were just pivot points and Whatever like it's proprietary I don't I don't usually trade on something that I don't really know what it's comprised of But I don't need to know use this analogy every webinar for probably three years When you walk into a room and you need light Do you take the light bulb out light bulb out and I suck that light bulb to figure out why you're getting light Or do you just turn on the light bulb and get the light, right? So it's like I know they work I don't need to know I have an idea and you know some market profile stuff whatever else she's using I don't care. I know they work and they work tremendously with the book map game setups, right? So That's all I need to know and again, I don't I don't add things lightly to my trade. I had a guy The guy that introduced me while I was mentoring for the book map stuff. He started telling me about him He made like a million and a half dollars in two months He was trading small and he got bigger and bigger the more confidence he got He kept telling me about these Ludwig levels and I finally started watching I'm watching for about four or five months I said these things are ridiculous. So I incorporate it in my trading I don't need to know why they work. I know they work, right? So that's And when you you know, you use them with important areas Char the volume events. They are incredible. You have a huge huge edge If you just waited for major lugs with volume signals, you would probably be a 90% trader Most traders can't do that obviously All right, so I've got a lot of stuff on now soybeans has done pretty much nothing short that crude About to do Of course, by the way, Phil to the tick in there, too. Do you guys see it? Do you guys know I'm crazy? I mean, I can't tell you how often this happened Did you even I didn't notice that like I didn't even say anything about it because I'm just so used to it It's just crazy. It's like you get filled. This is algos guys. Did I panic out? No, I have my level You show me you can get above here. Congratulations. You win out of the next trade So this is an official ATR retest failure. Anyway, even if we wanted the red log, I'd be sure at this market Or that As deck I use a different word in my room sometimes when this is being annoying. This is you know It came back, but it didn't get an ATR above here. So that's still I'm And I'm long. I don't like having dueling positions on but it doesn't matter. I'm playing my setup So it's you know, it is what it is The way I can win both these potentially Why not but it's a good hedge. I don't do that on purpose intentional, but it is a hedge All right, let's watch this one. This one's the most promising I think right now Any other questions Bruce? Uh well That looks like we're we're finding a solution here on who came up with the stepbrother's name And um, I have a user who bow is uh saying that yeah, november last year. I I suggested it Oh, it's bow. I couldn't remember who was it was someone in the room So you guys want to have a a duel or a fight a fist fight for it? No, no, you guys have a fist fight that out whoever wins that I'll allow you to claim I'll even put you in the course. No, no, no, he's saying he's saying that that I suggested it Oh, he's saying now. Well, he wasn't in the room then back because it was someone No, no, but it was in a webinar here All right I'm gonna try to find out who said it who came because it's in the it's in the chat I just got I mean you can see here. I've got no the chat that no it was suggested during a webinar not not in a In a webinar here at book map All right, but what I can do is go back and look at my chat history from my tree room And then compare it to the book map and we'll see who came out came out first Okay, it was something Okay, all right, we'll we'll have to all right We'll get to we'll get to the we'll get to the bottom of this very important subject It is very important I'll put you in the new course Pretty much already in there because you're the one who introduced me to that site in a carrier to begin with All right, uh, so we're running into tom's time. There's you know, we've got a bunch of trades on kind of doing positions nasdaq. Yes Short crude i'm short soybeans And nothing else is really transpired so Very choppy the main thing you guys want to be watching too I mean you get this time of day You want to be looking first of all 10 to 12 is just a minefield disaster here most times anyway Because it's just out of the but when you start seeing volume like this I probably want to go do something else Right. It's just you're just asking to be whipsawed. That's just it's just the nature of the game Now those are 85 percent or more of the of the trade right when the big money comes in It disrupts the algos That's where you get the bigger moves if there's no big money Then you get this and they know exactly where to do it where they don't get you know They pick up they have the you know their version of the si indicator too these big These big funds these big houses So they know when the big money comes in and they shut them off or they get run over or whatever But the majority of the time it's algo trade So that's why you have to know your areas and make the market violate those areas for you to be wrong You're just if you're panicking out at every every move against you You're not you're never going to make it because you're going to get this most of the time So that is about it any other question first Just going through a bunch of Discussion here. It looks like there's no questions yet in Yes business beyond a NQ and ESR are very closely correlated But he got he got different volume signals in in different markets there It depends on your settings, right? So you need you need the correct settings Like what market did you get the wrong? I'll show you my settings quickly I'm gonna hop off one market. Did you get the? Volume signal well, you did in the ES and NQ So the the question was that you were going, you know, aren't they correlated and then why why were you taking different positions? Yeah, just because the setups show different You know the way I trade them For instance, I would I was going along this this original setup that I originally missed Um Because we were above the a lug lug so I should have been an aggressive there So that's why I got an aggressive off of this volume setup, you know, they do they are correlated but The volume is the volume the volume is in this market So I'm trading off of that stuff, right? You don't get I don't get conflicting setups very often Like they I'd say maybe 10% of the time I'll be like long one and short the other And that's just the way it is. I mean you like I said, this is the science the art You can do whatever you want. You can say I don't want to have conflicting Positions on right, but it is what it is. Like I I don't just ignore Something happening in this market because I want nasa to go down, right? I'm playing this independent I know they move in so obviously if one works, they don't want to be a loser Most likely right like this one may be a loser here, but I'm short nasa Is what it is. These are the setups for this market and that's how I'm trading it You don't get it very often, but when I do it doesn't matter. I can't just Ignore it. I can't say, uh, yeah, they're not gonna. I don't want to go long here because I'm short Market doesn't care what I want the market cares about volume events So I'm trading these independently even though. Yes, they are correlated, right? If you get if you get opposing setups You may say this is just chop fest. I don't want I don't even be involved in this area all I can tell you is That basically this is a pretty big area, right overall This is a very very very important area. Whatever way this market breaks today and or tomorrow, you know If it just stays in there the rest of the day than it's tomorrow You're gonna get probably a hundred point move would be my guess at least T to 100 points. That's just a guess. It's just my opinion obviously But from what everything I this is what I this is these are loaded up traders Right the guys that are selling are running in a huge buy ice the guys that are buying They ran into some sell ice. There's some stop runs whoever's on the other side of the stop run They're taking the orders passively. There are investor traders in this area Whatever way this breaks out of here is going to be the whopper move My opinion and It's not my opinion. It's actually what's happening in the market. All right, so I got Um, kind of a crappy trading day so far, but hey, but we got 14 Fed speakers here in a couple hours So be ready for that that should that should liven things up make it even more impossible So I got Bruce unless you got any more questions No, sir. I think I think we're all set and I put scott's Contact information both in the chat in youtube and in discord. So you can always You know get it there. You've got his course information his website his trading room His twitter handle etc. So you can always reach out there Uh and no, that's it scott. Um, thank you very much and when you get your course together, we'll do that special event with you Definitely what I'm going to try to do don't it's going to take a little bit But what I want to do for the event I'm going to show some of my old trading. I have video of me trading It's not going to be for kids because there's a lot of swearing But when I was scalping you guys can watch that and watch my p&l like Flip, you know 20 000 dollars at a time. So that should be fun too. So I'll I'll try to have that set up for the event as well Okay, maybe put little beeps in or something. I don't know but No, no, it's all right You got you got to hear it. You get it's hysterical like again You're gonna see why I'm crazy, but when you're talking, you know, if I don't if I don't talk to myself and it's My head would pop off my Um, there's a new setup here by the way You could just get out. I mean I'm about to stop out of this anyway, but again I'm still short nasvek and I'm short crude and those are moving in my direction. So But there is a new setup coming in again. Watch this area when it gets out of here. It's going to be a whopper All right, I will see you guys Next thursday I do this every day twice a day in my room. So if you want to learn more, that's where I'm at Excellent. Thanks scott. We'll see you next thursday. Yeah. Thank you. Okay. Bye