 So hello traders, this is bookmap and the trading depths project a series of interviews with successful traders and today we are having del the trader and Welcome del to our little podcast Thank you You've been trading for many years and basically you're trading a stock. Is it correct? Yeah stocks stocks and besides Trading stocks, you're doing a series of podcasts on trading which I find really cool, you know this sleek design and really interactive Graphics that explicitly explain traders how to trade and what mistakes to avoid Could you please tell our audience about your background, especially in design? Yeah, sure. So I am located in Toronto I've been trading for about this is my seventh year now in trading and while that sounds amazing. I spent the first few years just fumbling around trying to find my My rhythm trying to find something that I was interested in within the world of trading Always uncovering more and more about trading and what that meant for me I wanted to make a lot of money. That's I think that's probably the main reason why a lot of people begin trading But I found that I had a problem with motivation So my I had a job at the time. I had other priorities and it was very difficult to Stick to something and decide that this is going to be a profession that I want to follow for the rest of my life I there was something I loved about trading something inexplicable that I was I was not able to pinpoint for a long time and so to me for me personally the reason why I started my YouTube channel and and all the way Until now where we have active traders thought chat our trading group the reason why I did that it was to motivate myself to share and to commit myself to learning and growing as a trader and By sharing that with others. I was I was able to get feedback from people. I was able to stay committed to To sharing and growing my craft Nice You will tell us about active traders a little bit later But I really want to ask you this question that usually we ask in the end of our interviews But what does a trader a word trader mean to you? Sure, it's a great question well, that Changed for me and what I thought that was as I progressed but In my mind a trader is somebody that can manage risk well and that can protect capital and and the reason why I say that is because You know anybody that goes on and buys a stock and sells it isn't a trader. That's a speculator When you talk about being a day trader a swing trader or an investor the one key factor that travels across all of those fields is that you are a risk manager and You grow accounts by respecting the the capital and that account and protecting it And so for me being a day trader My number one goal is to manage risk Stick to my plan be an operator of my own business plan and trading strategy And then obviously also grow an account Could you compare yourself or a trader in general to some kind of entrepreneur? You know when you take your business in your own hands when you manage all these risks risk us on on your own 100% it is you have to have that entrepreneurial spirit you know being being a one-man army or one-woman army is Not an easy feat and so you need to create this Scaffolding around your learning to help prop yourself up and bring yourself to new higher levels And the only way to do that is with that entrepreneurial spirit So I strongly recommend writing down what your goals are And trying to meet them every single day. They can be small goals they can be long-term goals, but really what you're doing is you're trying to grow your own personal business and You know, there's no greater reward than getting to one of those goals Sharing that with other people Helping other people and then seeing all that come back to you tenfold. So definitely need that entrepreneurial spirit Uh-huh talking about goals in the beginning. All what you wanted is to make a lot of money So looking back at all your experience at seven plus years of trading Do you think you have achieved this goal or have your goals changed or are you still pursuing your goal? Right goals definitely change But one goal that doesn't change is making more money. You always want to be making more money as a trader That's something that you're never ever ever going to to change which is fine because I think I Think what you do is you add goals on top of each other And and you you that sort of becomes your your objective as a trader. So at the beginning I was Really interested in making more money which made a lot of sense to me at the time but then as I went on I realized that making more money equals more risk and More risk equals and if you don't have that risk in check it can equal your downfall fairly quickly so While making money is is definitely a number one goal Secondary goal that quickly becomes the number one goal is managing risk okay, so well, I've talked to some traders and They also mentioned that over time it becomes more like capital preserving capital But not focusing on the money, of course We are in this profession to make more money, but then how you do this, you know How you protect your capital every time you step in in a trade You learn and you learn this right? So how was your learning path? Did you have any mentor or maybe? Did you read some kind of influential book that formed your mindset? Yeah, I mean through my journey. I when I started trading I started with forex because it was the one thing that was marketed to me over and over and over again online and there was gurus within that forex space that I thought you know had held the secret key to unlocking some kind of a Golden trading strategy that would make me a billionaire Quickly you find out that's not the case, but I didn't have one single mentor. In fact, I was jumping around from person to person from Educator to educator Trying to find that one person that was going to teach me how to trade And then what I realized that in that journey which took me, you know, three to four years I the each one of those gurus had something to offer that was beneficial for me in the long run and so I took what I thought were the best ideas from each one and I That sort of was ingrained in me And I managed to put it together and then try to get rid of all of the other junk that was just detrimental to my own trading and It's funny because and I think this is one of the more interesting experiences. I Thought that the more complex your strategy the more indicators you had the more Data you had the better decisions you were going to make in the market But the exact opposite is true that once you're able to Once you're able to identify what makes a market move Then you start throwing away everything else that is not Connected to you making the right decision and you actually end up with simplicity in the end. It's actually a really beautiful packaged Completed thing at the end, you know, it's an elegant observation and do you think it's connected to some kind of You know gathering these expertise of becoming more professional and as you level up you strive to this simplicity and then you could kind of You know believe your gut feeling but it's not like guessing it's because of your expertise Do you think it's the case? Yeah, I think a lot of the time it's it's almost like a human nature type of thing where your mind Your mind starts You know doing away with things that don't really fit with your own personality and your own nature So for example, I wouldn't I wouldn't I would have I'm not the kind of trader that's able to Put a huge size on something and then, you know, hope that that goes in that direction without any plan There are traders that do that and then, you know There's long-term investors that do that and they'll hold through like incredible dips that that type of thing I I'm I'm not that type of person and so identifying that Really helps you to identify what kind of trader you are which is I think the first step in Trying to meet your goals Looking back at your at the start of your trading career Do you remember what was the turning point? Was it just that you wanted to finally to make enough money and and beyond or was it some kind of situation that? Challenged you and then you decided that you have to do something different Yeah, that's a great question well for me my turning point was And actually before I tell you what it was. I want to tell you my experience beforehand. I traded forex and from Forex I went into trading Binary options because I thought that it was the coolest thing ever That only lasted a couple of weeks, but then I discovered options trading and I started learning about options and at the same time I started trading Futures and I realized that there's There's all these different instruments and all these different this world of Trading that you can do And I was really into technical analysis. I knew that was one of my strengths I wanted pattern recognition. I studied advanced patterns like of Gartley's all the Fibonacci methods all that type of stuff and Really what it came down to in my big aha moment was when I realized that it was more important what's behind a candlestick then what then then the actual candlestick itself and Trying to learn about supply and demand and support and resistance To try and inform better entries and exits or to better read a price chart led me to Going deeper and deeper into what's behind the chart and what's behind the chart what you find there is volume and time and sales and the order flow and Fully understanding that world allows you to simplify That that macro world there allows you to simplify The world on top of it, which is just you know the charts and and everything else that comes with the stocks Stock market and trading in general. So my aha moment was identifying That I needed to fully understand What makes the market move and what's behind the candlestick and Before stocks you traded golden crude oil futures, but for how long did you do that? So that's that was my big love besides stocks was trading golden crude oil futures and being here in Toronto I traded and having a job at the time actually for a lot of the time that I traded futures I had to actually be waking up pretty early at five in the morning or so to get ready to trade for seven in the morning And then to leave home by ten in the morning to get to work late. And so that was That was that's a pretty big sacrifice, you know, it was a big change your to change your lifestyle to to adapt to all these you know setups and Well as we touched upon this theme, could you just briefly explain how your day trading? Day looks like yeah, sure. So that was my day for futures. It was not pleasant I didn't like waking up early and it led me to make very poor decisions sometimes because I was just way too tired But now just being a little bit older I realized that I do wake up naturally a lot earlier I think it's because I need to go to the bathroom as soon as I wake up. So there's no there's no snoozing and so right now for my day trading I Wake up at between six and six thirty. I go have breakfast. I quickly read the news and I I Sometimes I go into and try to do meditation or I'll do some kind of a yoga in the morning I'll do something that has to do with getting myself centered and balanced and then I will go to my computer and I'll be fed. I'll be relaxed. I Had a good night's sleep, which is incredibly important when you're dealing with stress or potential stress And then I go into a pre-market routine Now a lot of traders have different pre-market routines And and so it's it's really something that you have to play around with to fit your own trading style and personality but for me, I like to have a list of Stocks in the morning that I know I'm going to be looking at because of the volume because of whatever my scanners have told me and I look at the previous day's action and And then I I go point by point to try and figure out exactly what I'm looking for what I want the stock to do and Then I visualize doing that And so that's going into that 930 open. I know exactly what I want the stock to do I know all the key points And I'm ready to just execute That's great that you know what to do Because you know, you probably know Through your active traders chat. I think that many people Who ask you questions, you know all this What is going on in chat room novice traders? They just think that okay I will make this one successful trade and I will make a lot of money If not this time another time and then they continuously fail Um, what are you talking about in this? chat room, how do you share knowledge and do you find do other people find it beneficial? Could you tell us a little bit about this? Yeah, sure. So my the objective of the chat room is basically in a selfish way it's to To duplicate and clone myself into other people and have multiple brains Trying to do the same thing. That's the very selfish way of looking at it. And the other way is in fostering a community that together can make better decisions For the benefit of everyone and I think that's what people really yearn for is that support and Somebody to tell you yes, you're doing the right thing or no, that's not a good idea Because it's a scary place Jumping into the stock market alone You feel like there's tons of people out to get you the stock market's up to get you and you're gonna lose a lot of money So what I what we do in the chat room is we follow a very specific routine Part of that routine is the pre-market analysis that we do for members And then we have we actually have a language that we use that if you take the course at active traders dot chat You'll find that there's a specific language for identifying Set-ups and being able to grade those setups in terms of quality and It only takes maybe like half of us Three words and I know that you're what stock you're looking at what the pattern is on there What the quality of that setup is and then we can continue on with the day and everybody in the chat room? Contributes to that so it really makes for a really I I guess Collaborative experience and then the trade management itself is actually less important and more about identifying the opportunities is what we focus on How many members do you have in your chat room? Not many We we went from having an open Chat room that anybody could join from the YouTube link or from Twitter or wherever and we had you know We had hundreds of people The problem is that very very like maybe 1% or less actually contributed Because a lot of those people were lost they didn't know what what stocks were or they were experienced traders But there was no action in the chat room and I'm not here to create a A the most popular chat room in the world. I'm here to create a special forces group of traders that can work on You know improving their their their life their lives together So we have right now of four four people in the chat room So it's it's it's and we're not looking to grow at a fast rate either It's almost like a process when somebody wants to join that you know, they they they talk to me It's more like a community. I'll say Exactly sometimes I'll say you know what maybe this chat actually the other day I had somebody that messaged me asking me for signals You know, how good are your are your trading signals? How much money can I make? Can I make back the investment that I made in the course? Fast and I'm telling them, you know, this is not that type of place. This is where you come to learn about trading and and how to how to become a self-sufficient trader so Turning down turning down people is something I do But you know, it's it has a good Purpose behind it because if these people get in they have different and much higher expectations and then these expectations I just simply not met I just wanted to ask why do you have this language? You mentioned you have a specific language to To show other people that Somebody found these or another stock that everybody could trade today. Oh Yeah, it's another good question so To our members our members rely on fast cohesive communication and simplicity to alleviate a lot of the stress and pain points in trading so what I did was I put together a video course that's about two hours long and It outlines my personal trading strategy and my my business plan And inside of that we I I trade three patterns and I trade them over and over and over again in the market And I don't trade anything else. It's a niche and we trade very specific stocks these small micro cap stocks that are low float that move very fast in the morning and Usually die-off in volume and we have very specific parameters For what we need to see that stock do in order for it to qualify as a trade And so we have on the on the one side three Patterns that we call 81 82 and 83 and these are the active trader patterns And then on the other hand we have a point system for being able to rate all the way from a plus Down to a C Setups being able to rate those setups. So you have for example, somebody in the room might say like today We had pix y or tnxp. They could say tnxp 81 a plus and that's all they need to say in the room and I know a Wealth of information very quickly because of our trading plan Incredible and incredibly useful I guess Does it prove Successful over the course of the day for example today Well, again, thank you for joining right after trading as you traded today in the morning How did it go today in the morning? Oh today was a great day. We had a Couple winning trades. We had tnxp and pix y to winning trades in the room We didn't have the range on those trades that we would have from other days I think it's because earnings are coming up and the small cap market isn't doing so well in terms of volatility and volume But it's been it was a good trading day. We identified our setups even if they weren't Winning trades if we identified our setups correctly and we followed our plan and if they lost money It's still a good trading day and and it's it's because you need to separate yourself from the outcome of the trade and focus more on the process and So one of the one of the main Indicators that you're on the right path is in the way you collect data on your on your trading strategy so for us we we have We have we love excel sheets and Google sheets and so we keep a diary of Our setups and how they performed in the market and how we performed what our level of confidence was in the trade What the the quality of the execution was and we keep that as a separate log Aside from our P&L and how much money we made because it's much more important to identify Your the quality of your selection and how well you're identifying identifying the patterns Then trying to focus on the fact that you made you know one thousand ten thousand hundred thousand dollars in a day or lost that much And so growing the level of confidence in your own trading setups is The number one thing that we focus on and the only way to do that is to what we like to call becoming an operator becoming an operator of your own strategy and focusing on the right things And also you mentioned that you have some kind of scanners that help you to identify You know the trading stocks for day. What are these scanners and could you describe? You know to our audience what you can do with them, you know, what indicators they show Yeah, sure. So if you're trading stocks, I think the number one problem is that there are Thousands on thousands of stocks that you could trade So the number one thing to do is very quickly start Boiling down to a few stocks. I only look at three to four stocks at once when it comes to the 930 open and I'm only Making one or two trades a day So I've boiling down from thousands of stocks down to a couple is very very difficult if you don't set and Know exactly what what you're looking for in the market So I use Trade ideas. It's a software that lets you scan and set parameters for what comes up on your scans and it's something that I've Over the years really boiled down into exactly what I need to see so for me if it's not on my scanner I am not trading it and That's that really saves you from a lot of pain when it comes to Over-trading or trading outside of your rules and because we have such specific parameters that we need to see We have we have we have parameters for the pre-market for the market open for the afternoon session and those parameters change as the day progresses and so our lists Can grow if you don't change that but as as the day progresses You need to really start continuing boiling down your stocks if you're gonna be trading so Yeah, so trade ideas is is what I use for scanners, but we have other people in the room that use the thinkorswim scanner or the Trading view stocks screener All of those I give examples for how to set up your parameters so that we are all looking at the same thing Okay, nice It's good to know to to our audience because again, there are there is so much software available, especially when it is being marketed at People because simply because they like trading, you know, and then they go to Facebook or just Google something and then these ads pop up everywhere And people just people who don't have enough experience. They just don't know what to choose. Yeah, because all these things are well marketed But Here you are you are ready to trade you you know what kind of what stocks you are going to trade you have all these information available Previously What is your next move? Sure, I can highlight some of the the important parameters that we need or important things that we need this talk to do So for our style of trading we are in and out within I think my average whole time is about An hour and a half for winning trades. So I'm there to be for I'm not scalping. I mean, I guess there's different definitions for it But what I look for and what we look for in the room is for those big momentum plays So a lot of the time I think 99% of the time right now We are shorting stocks. So I'm technically a short seller at the moment but last year I was longing stocks 90% of the time and I think it just has to do with the The how the market is reacting but the the one thing that we look for is volume. So volume is the lifeblood of Momentum traders. It's the number one thing that we need to see It's what from a fundamental and from a technical perspective we need in order to make the right decision It's almost like what lifts the veil from the confusion that you might have about where market sentiment is It allows us to compare it against other movers against other stocks even stocks that ran in previous Years or previous weeks And it allows us to make that decision in in and and gives us the focus To analyze a stock with confidence So volume is number one and then another super key factor is the range of a move So you don't want to be trading if a stock bounces between a $1 move let's say $1 and $2 all the time and you know one day it pops up With high volume, but it only goes to $2 I'm not really interested in it. I want to see this stock You know 10 times its range at least I want to see this thing really fly Because that's when people get the most emotional and really what you're doing when you're trading these low float Stocks these are very small companies some of them are you know Don't do so well and you're looking to trade them back down to zero is you want people to get emotionally invested in the opposite Direction so that you can take advantage and that's that's what trading this type of niche is about So is this related somehow to the over the counter are these the type of companies you're trading Right, so there's OTC stocks is what you're referring to What we trade is our Nasdaq stocks, so we trade Nasdaq stocks that are over a dollar and usually under $10 And then the the market cap that we look for is usually under two billion dollars And we have all these other parameters, but they're they're stocks that are a lot of the time There's pharmaceuticals that are in this area that You know, they've been maybe stocks split like you know 10 or 20 times In the past and and they're they're simply used as a vehicle for value delivery for their shareholders It's a definitely a longer conversation, but if you imagine it like You're trying to tame a wild Or a group of wild horses And then there's that one a horse that keeps doing the same thing over and over again You know keeps kicking you off that horse Instead of trying to move off to another horse or another group of stocks You want to stay on that one horse? You want to really find out what makes that horse tick? What's that person? What's the poor personality of that horse? You know what? What kind of food does it like? I don't know do horses eat different kinds of food I don't know that's an interesting comparison, but I want to be I want to be the master of one horse I don't want to try and tame all the wild horses in the world. In fact, I don't care So a lot of the time, you know Oh my god, Tesla's doing this or Netflix is doing that or you'll see all sorts of stuff in the news I don't I don't care What I care about is taking a Percentage chunk and dropping it into my account every day and that's my job because I'm a risk manager So I don't I don't I don't Go outside of that zone. Yeah, that's really strong, you know this is what a lot of traders need to learn because You know, I'm not trading and honestly I am the one who would follow news who would look into Tesla and like being amazed by that But I envision myself as investor, you know, I would rather invest in something that I understand And maybe it will not do well in in this year another year But eventually in the future it might do good. Do you personally invest besides trading? Yes, I do. I'm an early crypto investor So I saw that one come in from 2013 and What else? I do some Long-term investing with savings accounts or what we have in Canada tax-free savings accounts and our RSPs and Yeah, so I do do some longer term investing It's I've chosen a firm that I believe Is sound and I can manage my money And I do that because I want to focus on day trading That's that's where I want my focus to be 100% of the time, but I will have some Investments in or swing trades some longer term swing trades on companies that I believe have a future I will Dabble in those with some of my savings accounts. Yeah, that's great. That's great. Not only risk management, but financial management. It's really important How does trading affect your everyday thinking? Do you find yourself being over-rational or Making decisions, you know as lightning like really fast Yes, psychologically trading is one of the toughest things you will ever have to do in your life It's a true test. It's almost like being a Jedi and looking into Into that that glass mirror from the last movie Anyway, I don't know if you get the reference, but the idea is you have to really look within yourself To understand where your strengths are psychologically and where your faults are So for me personally, I always had a really hard time with over trading over trading was my thing I would jump in and out of trades. I would rack up commissions and I would have I would suffer some serious losses in the past and my focus on stopping to over trade was by giving myself rules, you know giving myself a box And staying within that box and I needed that personally And that's just something that's catered to my own needs and the people that join our trading room I think are also in search of that so Psychologically you need to prepare yourself Emotionally Control your emotions. I don't believe that you should be Removing your emotions completely and I'd have a strong strong belief in the Gut feeling that a trader develops over the years as well Do you what is your philosophical background and do you see that it kind of reflects Your profession as well. I know it's not an easy one. Yeah, that's a great No, that's a great topic so my wife always tells me that This is the perfect job for me and it's because I I've I've always I've come from a family that's very political and I've always been into politics and I I was always obsessed with reading about finance and under really understanding how the world works and so When I found out about the truth about money and how economies work and the truth about who's Who's in power when it comes to finances in the world? It makes it very difficult to go and live that nine-to-five job So I think my personally I need to be in control of my own life I hate the idea of having to ask somebody to go on a vacation that just Kills me. I just can't do that and I think that the That that's philosophically that's what translates for me is being in control of my own destiny If I want to say if I'm gonna fail, I'm gonna fail I'm not going to rely on somebody for my future and the future of my family's financial health That's not going to happen to me so if if if if we end up on the streets, it's because of me and I'm sure my wife would appreciate that It's really important the family support I think it's crucial and a lot of traders would agree with me and you know Especially those who are like above 40 years old The ones we I talked to Family support these understanding This trading is profession. It's not a hobby. It's not gambling. It's true profession Well Thank you for answering this Really hard question, but I see I see several answers to that and the one is Probably you haven't answered before and I was asking previously about this turning point What made you a trader and if I'm not mistaken It is the feeling of freedom that You are responsible for your life You are responsible for what you earn for your family and when you go to a vacation. So am I correct? Yeah, you got it. That's that's the number one thing for me is that sense of in individuality and Independence I see I see Well, you probably could tell us a little bit about your trading style you briefly mentioned it But maybe there are some, you know, not tips but something specific about your own style And I think it's it's really interesting when you compare different traders because always there is something that Gets you and you want to borrow it, you know, still like an artist something like that Yeah, sure. So my trading style relies heavily on technical analysis I'm a technical trader by craft And then my conviction on the trade is strengthened by the fundamentals So we not only look at the technicals, but then once we're ready to use those technicals in a live market situation We have the confidence in the trade due to the fact that we know that the stock Needs to come down or it has so in the past or the fundamentals tells us that This is the right direction to be trading the stock in it just helps to strengthen that technical bond so I Have an understanding we have an understanding of how the market moves how a stock moves on a chart And we look for and find areas of conflict on that chart so My edge in the strategy is really built around a few core elements volume analysis order flow analysis and Market auction theory, which is our spin on auction market theory It really comes together to define areas of fair and unfair value on a historical price chart and Really gives us that ability to pinpoint when price will expand out of consolidation with a high degree of accuracy So just like I explained in my video on YouTube for day trading strategies for beginners That there's two ways to chop up a chart Expansion and consolidation and these are the two Things that happen over and over and over again on a price chart So that is sort of like the quick walkthrough of what our strategy entails But really behind the scenes and what allows this to be successful is Our position sizing and our risk management. So positioning yourself for low risk high reward situations Where we've back tested our 81 82 and 83 strategies over and over and over again We know there's a statistical edge down to the percentage point And so we just need to be an operator and let the statistical edge do the work for us and that I think that that sort of Box that we've created Let's really let's us concentrate on the right things and not worry too much about the outcome because we know out of a thousand trades We're gonna be Taking money out of the market and that's what it count That's what counts when you're trying to be a trader with any type of longevity in the market Mm-hmm. Well, and definitely as you already mentioned several times trading is a lot of stress and Sleep is number one You know point that could help you deal with this trust But could you please tell our audience how what are the other things that could help release this stress? Especially after you finish trading. Oh Yeah, yeah, that's a great one I think Probably the number one thing to do is disconnect. So go do something outside Go spend time with your family Go play a board game Something to get yourself off of the computer for me is super important Or else I find that I'm tired when I come back to do research at the end of the night or In the morning if I've spent too much time on the computer beforehand I will almost get like a deer in the headlights and not be able to concentrate So from a from a disconnecting standpoint It's super important to center yourself and just from a general life perspective. I mean we we trade because We want to have an easier life And if it's work to you to sit in front of a computer and you're trading all day long You're not making a very good hourly rate so Give yourself a break and you know spend you're a trader you have you're in charge of your own destiny You know go out and do whatever you want. Just don't trade all day long. It's It's inhumane to yourself. I See well, thanks for answering this one. I think it was an unexpected one But I just wanted to ask you, you know and as I'm as I'm talking to traders I'm also learning a lot as they already said I'm not a trader but I Also see this connection with with you guys because in my opinion you do a big job, you know, you keep this financial markets moving and therefore you're moving all the companies that Make this world world Work right, but sometimes people think the traders don't breathe don't bring any value to society Have you any have you heard about this one and how do you feel about that? Yeah, I don't think I've ever given that any real thought part of me never really cares what anyone else thinks but if if I were challenged, I would I would say that You know, it's it's like a when a business grows it needs to be successful inside of a larger market and This market is a group of buyers and sellers and so if you have a business that sells shoes let's say and You're very successful and now you want to turn this into something that's going to create wealth for your family For multiple generations. What you're going to do is you're going to go public with this company Or you're going to sell it to some private investors The idea is that you're going to bring in more people to help prop this up for the future and so traders play a key role in that puzzle of creating valuable wealth for the future Both from an individual standpoint, but also all the way up to a corporate standpoint where you know shares are sort of like the ownership over a company and we are the ones that are going to be valuing or Judging the value of those shares based on the information that we're given and that allows for I think a Respectable market and I'm not saying that the market is fair. I'm saying that it's respectable decisions on a stock going up or down are Respected because of the the number of participants. So it's almost like When you want to really know whether a company is Worth or the the value of that company where that value of the company is You're gonna take a look at the stock price and the traders will say whether this is too high or too low and you know some long-term and Day traders and swing traders will all have differing opinions and the truth will come out eventually A nice one. Thank you Well, just a couple questions to wrap up this interesting conversation. I'm really enjoying it. Thank you Dell Do you think that a trader needs some formal education? I mean, they're gonna need to be able to read that's a number one No, absolutely not you know It's in the age of the internet. I think People can get far far ahead than any type of curriculum that can be made so I I mean my previous job was in tech and we looked for people that had The willingness to learn and the drive and passion to learn beyond and go and find the answers themselves and learn beyond what the the textbook says and That's where you find true innovation is when you find people that are willing to think quote-unquote outside the box and That is also what can make for a really great trader is somebody that's willing to innovate and gather the ideas despite these things not being taught to them in a organized fashion so Takes somebody that's discerning I see I see and Before you started trading. Did you have any kind of illusions about what trading is? Oh? Yeah, absolutely. I mean I had I had no idea The the amount of research and the amount of hours that I would have to spend in order to Get anywhere near mastering something like this. I mean, I'm still nowhere near that but that the amount of work That it takes is something that people should be willing to accept that you are going to Not understand many many things and I think for example, I think I think one of the greatest examples is Level two tape reading Now people will or traders will say oh, it's I'm seeing this on the level two I'm saying that on the level two it takes years of staring at these moving numbers on on on the screen in order to identify Patterns and be able to make judgments based on flashing numbers and how many buyers and sellers there are in a market Now that type of thing has been expanded by you guys at book map And that's why I'm such a huge fan of book map is because now I don't need to just be able to you know Calculate or remember all these numbers and what price they were at by staring at a level two to identify the fact that there's a Big hidden order somewhere or that there's an institutional coming in dumping orders on the bid Mm-hmm. I can I can just look at the book map and I can see the history of that visually and that is a key innovation So that for example, that's that type of stuff is changing every day and it's becoming easier to identify these types of of moves in the market because of the innovation, however Fully understanding how to utilize that technology is a learning curve in itself So I would I would I would still be highly cautious and to my own traders In the room while we use book map And just to highlight what we use every day. I use book map Obviously for the order flow analysis I use book map and then I use trading view for charting and then I have my broker platforms for execution and I tell my traders That's having too much information thrown at you right away is detrimental to your learning curve. So what they need to do is focus on Really fully understanding and taking in the patterns being able to recognize those patterns are working on the pattern recognition is what we like to call it and Then once you are so confident in the chart, you know, exactly what what to look for I have a quote that I put out on out on on Twitter Where I basically say that technical analysis the objective is not to predict future price movements, but it's to be able to Identify areas of conflict on a chart. That's the real value in technical analysis And so adapting that to stock trading you want to focus on the pattern recognition Because it tells you what areas on the chart based on the history and based on what we like to use in market auction theory the volume analysis Based on all of our analysis, we're gonna say okay This price point here is gonna be challenged by buyers and sellers at one point because it was challenged in the past and because of X Y and Z in our technical analysis Then I want to jump over to book map and I want to wait for price to get as soon as price gets that level I want to be looking at my book map because I want to see that battle unfold in front of me between buyers and sellers and That right there is an incredible edge So I'd say to anybody using book map right now Don't just make decisions based off of the fact that you saw like some big sellers or big buyers come in Use technical analysis to pinpoint areas on the chart where you're gonna be paying 100% attention to Yep. Okay. So The final question I have for you Delta trader If you had an opportunity to sit down with a prominent trader of the past or today Who that trader would be and would you what would you ask him about? Yeah, so right now, I think I'm most fascinated by Peter Brandt And if you are a subscriber to real vision, I don't know if you've heard of real vision they they They put ideas together Trading ideas they have interviews. They have all sorts of video content for traders and people in finance but Peter Brandt is this a 40-year veteran of Trading in the stock market and actually he trades everything not just the stock market and I've seen on his Twitter that he's also been trading You know Crypto even and he has this really really simplified way of of Identifying patterns and trading the pattern and sticking to that specific rule and I think that is so rare To have that level of longevity. I mean 40 years of trading with the same strategy. He's got such a wealth of information He also has a book you can Go take a look at it. You can just search him Peter Brandt That's I think it's such a such an incredible Wealth of information based on 40 years of trading Very few patterns that I think I resonates most with me. So I would love to interview him and pick his brain Well, and we had the pleasure to interview you Delta trader It was indeed a very interesting hour and we hope that our audience also liked it and if they liked it they should comment and share and we welcome all kinds of questions as well and You the audience should also follow Delta trader on Twitter and go to active traders that chat for more ideas on what stocks to trade and If you have any any questions again, you can ask Delta trader. Thank you Dell for this conversation Thank you so much for the interview. I had a blast and I thank you for having me on and and I Definitely recommend anybody that is into order flow analysis or stock trading or volume analysis To take a look at book map. It's definitely changed the way I trade and helped my craft in so many ways But at the beginning everybody should gather some knowledge and thank you for listening to us and picking up some knowledge especially from Professional traders we interview like Delta trader. So bye. Bye. See you next time You