 Good morning traders and welcome to the bookmap live trading webinar. This is the bookmap advanced education that is Comes with the bookmap global plus subscription starting January of 2021 okay, so today as every Thursday we have Scott Balsini futures trader and He's gonna go through some You know live trading live analysis in the futures market It's the 24th today, so I don't know how much we're gonna really see But hopefully we'll see some good stuff here and and go through And for those attending here It's only for those attending and those that do not have scots Si tracker course He is going to give it away as the kind of Christmas special here to one lucky Attendee it's gonna be a trivia question So it will be at the end of the webinar, so you'll have to kind of stick around and be held hostage here for the webinar until until we're finished and then we'll ask the question and The first person that answers is gonna be the winner. Okay, so it's only for those that do not have the course It's not for resale or anything like that All right, let me take a look here at the questions first before I go through a few more things here just so everyone Get this answered here. Just a second. Good morning everybody. Good morning, David And Tom John he Yeah, good morning everybody. Very nice. Well, happy holidays. All right, so nothing At the moment that's pressing here in the questions Let's continue on if you don't know who Scott is. He's been trading for over 20 years during the 2002-2005 Scott was responsible for trading about 10% of the S&P E-mini features volume and just massive trades here But now Scott focuses on both equities and futures He's an expert scalper and has innate ability to read the order flow and volume within the price patterns And very happy to have him using bookmap and here with the bookmap team I'll put Scott's contact information into the chat if you want to reach out to him Okay, he does mentoring services. He also has the trading room with the we trade desk comm Okay, you've got his email here is Twitter and his website as well. I do need to go through whoops. I do need to go through the Risk disclosure here. Okay, so hold on for a minute and let's go through that and then I'll turn it over to Scott The general disclosure all bookmap limited materials information and presentations are for educational purposes only and should not be considered Specific investment advice nor recommendations live trading is in simulation demo paper trading mode and strictly for educational purposes Live trading executed in simulation cannot accurately represent realistic trading performances risk disclosure Trading futures equities and digital currencies involve substantial risk of loss and it's not suitable for all investors an Investor could potentially lose all or more than the initial investment risk capital is money that can be lost without jeopardizing One's financial security nor lifestyle only risk capital should be used for trading and only those with sufficient risk capital should consider trading Past performance is not necessarily indicative of future results. You can read through the hypothetical performance disclosure if you like Other than that Scott, let me give you the presentation here and take it away Do you hear me? Yes See the main control box, I just had to show my screen There's a fancy new screen What'd you say this is the fancy new screen. Yeah, it was hidden in the corner there, okay Okay, yeah, we see it now I'll share my webcam so everyone can see my awesome new monitors and my triple-decker so I've got I've got six screens on another computer and then I have on this one these two huge monitors and then three other screens and this huge Monitor is I can fit three book map Windows on there. So that's like six monitors. So I've got like 15 monitors that I'm Can never have too many monitors. Yeah, and you're in a dark room Yeah, it's still not that I'm in Arizona still not Sunrise yet. Oh really? Yeah, I thought maybe you're at the South Pole or something there Yeah, so I don't know This was such a great idea doing this today because there's Nothing going on. So we'll just play it by air. You know, there's really there has not been one signal yet Well, I take that back. There was one Japanese ice Japanese yen ice signal that fired off a couple minutes ago, but other than that there has not been one signal You can see here. There's some cell ice In the Japanese yen you see it down here over threshold was 133, but other than that there is nothing going on But there's some things worth noting so I was reading You know, I talked about this last week about there's been some Spot on the zero I put it in the chat zero. I had you put out an article on how there could be a Pretty decent sell-off here into the end of the year where there's three different factors You know these hedge funds need to rebalance their book or it's like 60 40 stocks and bonds again I don't know much about this stuff. I'm just going by what I read But they're overweighted in stocks so they need to they're supposed to do that do it at the end of November and they Obviously didn't so they're expecting, you know, some kind of selling from that So you have that then you have the CARES Act provision where you can sell out You know portion of your 401k with no penalty up until the end of the year So you got all these struggling business owners that are getting crushed that are going to need money to live on that Are probably going to liquidate some of their 401k so you're gonna have that kind of selling come into the market And then there's been all-time lows in the order book for the E-mini S&P So you can just imagine when they when these these billions of dollars come into the market to start selling There's not going to be a lot of liquidity here for to take the selling, right? So that could create some vacuum huge Sell-off moves, but I've been saying that for about three weeks now since I read that article and all we do is go straight up so But be cognizant of that and then I read today in zero gamma or I'm sorry spot gamma Who's been on your eyes? He has actually these are these levels here the spot gamma level so all these are are And I don't make it sound simplified because it's not it's very technical I try to keep it simple from my little brain, but it's just Options dealers that needs to hedge their positions with futures, right? So it's But who's you to know where these areas are you can see them here in these cloud notes and you bring them the cloud notes and they update every day And you kind of know exactly where these options dealer are going to be hedging their futures positions, right? So you can see here on this up move. This is exactly where we Little pin guy here. This is exactly where we stopped, right right at this Again, I you can get really technical into what these actually are I just know that their support and resistance levels on the chart and I watched to see you know if there's reaction there So again, we came up here and the first time up after that straight up move on the open And this is exactly where we stopped so he wrote in his name today sent out a daily report and He said no to the markets close at 1 p.m. Eastern today for Christmas This is interesting as we wonder how many of the call buyers who have been rushing into the week Please accounted for one and a half days less this week Many of the most active call names may see some pressure and see some reversion today as dealers Unwinding long deltas tied to the rapid lead to King 1224 calls. So I guess see again I don't claim to be an option expert at all But I guess, you know, they expire today instead of Friday because Mark's not open on Friday So there may be some rapid sell-off for the dealers have to you know Had you their calls or whatever the decaying calls again I don't know much about options as far in that mass standpoint But all you need to know is there's there's a possibility of a sell-off because of that as well So just be very cognizant of it doesn't mean you're just short, you know blindly But if this thing starts to sell off hard and you know, I talk about relative volume all the time You start to see, you know heavy. So this is thinkorswim platform You start to see the elevated and most platforms charting platforms have this type of information Where the relative volume so all this means is at the open here This was almost eight times normal volume on this up move. You can see this bar and you can see over here Again, it's always it's taking it in consideration Me pull my settings here. Just so you guys know it's pretty simple simplified But it is initially let's click on this So you can see it's just a 60 simple 60 a period look back So what it's doing is it's taking 60 the last 65 minute bars and judging the volume on that and then What this current period is right? So all this means is this volume here was based on the last 65 minute bars Overnight so obviously it's always going to be elevated at the open Usually it's seven times. So this is a little more but as we get into the session You know now you start to see it normalized because it's taking this volume in a consideration at the open So if you start to see my whole point of this is if you start to see You know us start to sell off and you see huge high relative volume coming in be very careful of Jumping in thinking we're going to do the usual bungee jump that we do every single self that we ever have for last eight months Right because this could be in the one where it just keeps ripping down Again doesn't mean you just blindly shorted, but just be aware of that Let's see what else here So you can see we kind of held that level again Know again Brett Brett Brent has been on these from spot game He's been on these down a couple of webinars you guys can Google book map YouTube and see his webinars. It's really interesting on these levels, but you know how I will use them sometimes as if If we do come up to a big level, you know, and I have a bias, right? I don't just trade I don't trade anything in a vacuum, right? I look it and we talk about this all the time I look at the overall structure where we are on the longer time frame And the shorter time frame and you can see on the hourly. This is a zone where we have struggled to get through right so You can see here. This is a balance area meaning there's two sided trade, right? And we've come up here multiple times and they hope they'll fail yesterday ripped down and now it looks like we're failing again So what I'll do sometimes if I have a bias I usually and you know 90% of my of my trades are driven by the SI indicator, which is what the course is With my five distinct set ups high probability setups. That's what I'm giving away one today for Christmas But once in a while if I have a bias and I think again So say we come up to an important level like you know, so I showed you that zone was important and that's also confluent with a Options level if we come up to this and I don't see anything firing off, you know Meaning big time volumes coming in that's this is sometimes a good way to fade You can fade this area because you have nothing happening to push it through We know that was an important zone like I just showed you and then you have an options level there, right? So It's just good to know what these levels are and my point is I do put on trades once in a while If I have a bias if I don't see something on the SI indicator, right? But it's usually driven by the SI indicator because I'm a big as you know a big volume guy And that's what bookmap is bookmap shows you volume it shows you volume in the book this liquidity these big large orange lines is the You know the large liquidity meaning large orders in the order book here just showing you and heat map representation there and then Also the the hidden stuff like the icebergs so the icebergs are not visible You know that I get information from that as well. So That's basically what I'm looking at and again, there's really this is the biggest one coming in today And it's not my threshold either. So what are thresholds? So for each product, you know, obviously you can see there's spikes in this Indicator all morning, right? But are they relevant? Are they not relevant in my studies that I went, you know That I went back and derive the course off of watching months and months and months of the activity, right? You know, I can learn what you don't want to be taking every single spike in this, right? Because it's just it doesn't matter when it matters is when you get the big spikes, right? So for instance, this gets over My NASDAQ is I used to have it at 100 I moved it up a little bit because it's been a little more volatile So I have 150 so if we trade over 150 on an iceberg or a stop run Then I will take notice and I will try to make a trading decision on which way I want to go based on the stuff I just showed you as well, right? And that just confirms certain areas for me. So you can see my settings here So it's a stop icebergs tracker So you can see here that this upper one is what my graph down here is based off of, right? And this is also version 3.0 There's there's some bugs in the newest version. So if you are using the current version I recommend you go to the 3.0 because the the newest version some of the learns are firing off correctly So they told me book map themselves told me to go back to 3.0 if you don't have 3.0 you can email support at book map dot com or you can email me I have a I have a version of it too that you can have but So because you're you might bring you're up You know you might click on this and yours is going to look a little different because I made some changes So don't be confused because this is version 3.0 anyway. Yeah, we will have a new version coming out I think in another week. Okay, so keep your eyes peeled Everything cleared up. No bugs. Yeah. Yeah, I mean it's been a long time in They've been working on it. So I don't know exactly what kind of the bugs for sure But then also new features I imagine as well. Awesome. So this top portion is what is represented here, right? So this is telling me I am in sliding mode. So there's different modes and again Bruce can post the wiki page and you can see what the different modes are you know the Summels show you the added up all day. That's not helpful for me. It's the way I trade You know, I have a file much you could see this is just added up stops If it's above zero, there's been more by stops. It's below zero There's been you see a little peaks and valleys, but that doesn't really help me as a day trader I use you can use reset or X are sliding or exponential. So my course is based on exponential Which is pretty similar As far as because what we're looking for what I'm looking for and my course I'm looking for the peaks, right? I'm looking for thresholds broken on the peaks Exponential has a normal decay again. You can read about this in the wiki page where it decays over a minute So it may not be representative of what's really happening as it decays the sliding or reset mode again You can see it's pretty similar, but it'll show you a little more accurately and why I like it too Is you can you can kind of judge your areas. So say this was a threshold Pretty close. I mean it's a hundred but today it's probably decent because it's just so dead but it helps you Draw in your area of where this occurred, right? So you can see here started right about here where this buy iceberg came in on the selling here, right? And then an increased as I kept trying to hammer it They were running into buy ice so that was hidden orders in the books So the way I do this is to to figure out again I'm not trading off of this one in particular But I'll come down here and I'll draw a horizontal line where it started and then I'll see where it ended Which is right about? You know I'd say right there Where was the market there right about there, right? So that's how I'll you know again It's not that scientific, but I have a general idea of where this zone is so a lot of times what you'll see here So once again, you saw this this call wall it bounced off there. So a lot of times what you'll see is You know, this could be construed again. This is not threshold for me. I mean, it's Again, I'm using 150 now a daylight today possibly could be but this is a tight call the Titanic setup meaning You know, all my all my terminology is very simple. I try to keep everything stupid simple, but it's like a you know orders running a new wall of buyers right at Titanic iceberg. That's why I call it Titanic. So You can see here and then moved away of many of the times it'll move away and then I'll retest then it'll go Right if we break this then that's telling you something right that means this ice because icebergs are usually the bigger money Icebergs are you know, the mutual funds the hedge funds quant funds banks They're not always right right the right more often than the wrong because they're the big money and they can move the market Whenever they want, but when they are wrong, you know, this provides fuel One it tells you something that they weren't able to hold the market in this area to it provides fuel So when they do end up puking out their positions It's fuel for the move next move down, right? So that's kind of what my course is based off of the setups with the icebergs the steps with the stops And that's what I look for there any questions so far Bruce Oh, let me finish this real quick sure nice So this this top part is the ice as the graph and then the bottom here is just for the Alerts so you can see it. You can put in anything you want here You can put you know enqueue stops or heads up an enqueue moron idiot whenever you want to put you can make it funny to at least Make your day comical as you're You know watching this website all the rhythms fire into the market So this is for my stops. I have the text and the voice so it'll read off If I'm not paying attention or read off and then also give me text, right? So you can see that here You can see how much is fired off today a whole bunch of nothing But it'll so, you know, once you're if you're watching multiple markets You're gonna, you know a lot of times it'll fire off and you're not paying attention You're like wait, what was that? They just said or my little computer guy just said and you go here and see what it was, right? So that's what this is it'll read off whatever text you put in here and then for the voice And then it'll also put it up on here if you have that enabled And I have my same values or it might 150 for stops 154 icebergs It's elevated for my course a little bit You know again, I tell people in the course to it You've got to make a decision the day you know that you're trading So if I'm trading this right now is 150 is that sufficient or you don't my point is you don't want to see a spike for 15 times, you know So say this was you know 150 150 150 150 you don't want to you know for that particular day you probably want to increase your threshold a little bit because You should only see for it to be Actionable you should only see you know three four fives You know spikes threshold spikes in a day if you're seeing 100 I've had a couple emails and this one this course first came out like I'm seeing 100 and you know, I saw like 20 of them and you know this one worked But this one then it's like that's the whole point if you're seeing 20 on that day You need to increase your threshold because you don't want to be seeing A ton of them, right? You want to see again three four five in a day So a day like today that looks like 100 is good so far, right? So you can see here. This was the biggest one of the day this by iceberg And there's nothing close to that. So today we can probably use 100 as as our threshold, right? So And this and you can see right here that worked. This is what exactly what I was just showing you guys I drew this zone and he was And this is where came in this is in and held here came back Give me a little jar guy So today 100 is worthwhile and now we're getting now. We're really getting out here comes some cell ice We'll get into that in a second, but you can see here. This is where this iceberg came in Let's get this other color here so we can see what's going on So we may have a trade here That was where the iceberg came in moved out retested This is exactly what I was telling you the pattern is retest then it goes right if we were broken it So what you do is you get long once we break out once you see the buying come in out of the zone And you put your stop below it, right and I'll get into this These blue and black lines to this a new indicator through tasks that I've been Experimenting on book map. I'll get into that in a little bit, but let's see what's going on here So here we go now, this is this is large. This is threshold no matter what you can see it started here And we at as peak 245 sell sell icebergs, right? That's really important That means big money right here is taking a stand against the buyers, right? So let's see now. This could be a titanic setup where these buyers run into this these hidden sellers, right? So let's draw the zone just like we did with the The buy ice started right around there, right? And then the peak was up here So now we have a clear zone where let's see what happens here So if this this could be one of two things we don't know until it breaks out of this zone, right? Because we're still in here Right. It could do this for 10 minutes. We don't know if it breaks higher Then this sell ice is wrong, right? That's called broken ice and then many many many times again I'd say 80 plus percent of the time the pattern is it breaks higher Right, it'll bust out. These guys are wrong They're underwater It will come back into this area in the zone where they just got run over because they force it back into that zone Again, I know all this my whole course is based off of my prior experience as a large You know a huge trader huge size trader. So I know the games I know how I used to feel when I would you know sell and I would get run over praying to god It would come back into my area so I can cover the cover the trade So the usual routine is it'll move away. It'll retest these guys have to cover and they're buying trying to get out of this Regional short position causes the next move up. So it's usually one of these boom. Boom. Boom kind of like we just saw with the The buy ice over here So right now it looks like they're about to win I want to see it get below here So I'm willing to take this short for the reasons I was telling you before we're not be able to help hold this call wall right or this whatever this Whatever this spot gamma level is which we were just talking about but now I have a real reason to trade it because I saw it now I have some big time volume coming in. I know this is a slow day. So this is 245 contracts That's like 500 on a normal day because it's so slow right now. So if we break this I'm going to sell this here Right and then I'm going to put my stop up there Um So let's put that in right now. I will stop into this trade I go a little bit below because these thinner trader markers have a tendency to pop a little bit below and pop back in Um, so I'll go right around Take There we go. Let's just move that up a little bit All right, so if I give I'm going to stop into that short right because I'm talking I'm showing you guys different things I don't want to miss this trade But if it trades there then I'm going to be short I'm going to put my stop above the zone and I know I've got paper behind me That took a stand in this area, right? Okay, so I'm filled there. So my stop goes up here You know Come to it trading multiple counts Okay, so this is what I'm talking about. This is what happens a lot and I should have been paying attention to my My new little handy dandy indicator here. This is right at the point of control this black line I should have waited for it to break through that but it is what it is. I'm not going I'm not going to trade off of this per se that I'm just watching it You know, if I see this happen 50 times over the next week, then I'll know this is This is valid this new indicator. I know it's already valid, but um I don't trade off of you. I put it that way. So anyway, I know I'm probably confusing you guys But I'll explain what this is in a couple minutes. Um So this is exactly what I was talking about I basically sold off the low take here because these markets do have a tendency to The penetrating markets will pop a little bit below and then they'll go I mean, then it'll get right back into that So I want to see if this can clear this now then I think I'll be good, right? And then all we have to really do is get below this smaller buy ice and I think we'll have I think we'll have because first of all, you're gonna have all the buyers here that ran into this ice They'll be puking then you'll have this buy ice that we drew this zone Down here, which was much less now. They thought they were golden now They're gonna have to puke and that might cause the move down right or the start of the move down anyway um So anyway, I'm sure you know, I don't like this not getting back below the zone So if this does come back up and step me out I'll give it one more shot, right? So this comes up stops me out and then just does one of these like I did down here If it pops above and comes back in once it breaks again, I'll give it one more shot Unfortunately, but I actually call that because I Popped just below and I get I literally got filled to the exact tick as usual for me um So we just had absorption and gold And it's not showing here's gold It's gonna bug in this as well that they're working on. Um, I get the oh, that's not gold. Sorry, that's zero And some of these products the thing will um But they here this is actually showing which is good. So you can see this absorption, right? So all nice black means there was cell absorption meaning it's kind of like iceberg But it's a passive order in the order book So they jumped up and bought here heavy and there was um a nice little 100 100 lot waiting for them on the cell side Which is I think it's 100 for this Yeah 100 these are my settings for gold one second traded 100 At the same price. So all that black means is they These market buyers this blue bubble jumped up and bought the Bought right here and then there was a resting order kind of like an iceberg, but it's not an iceberg It's not hidden But it was also but it was put it wasn't they didn't go to the market with it They just had it resting so it basically traded here Someone dropped in a hundred lot on the offer and they jumped up and took it right and that signal here So absorption indicators a new That's a new indicator as well that I've been watching I'm coming up with some good setups there too I'm about to get stopped out of this thing literally filled to the tick per usual for me All right stop, so I'll give this a shot if this thing just does this and stops me out to the tick and comes back down I'll give it one more shot But if this thing now, you know if this rips up because it kind of pretty much held the zone Right, this is going to be broken. Nice, then I'll turn around and potentially go along right because you had that So this this is going to be you guys are literally living in my world now Mike because these areas are so exact like And it just hurts me my my one weakness is like I don't want to give away price So a smart trader when this has happened to him about 500 times will go a little lower instead of right under the zone and You know it's the beginning filled to the tick and you could see her came up and then stopped me out right to the tick so The point is We don't really know what this is. I should have just put this below this. I wasn't paying attention to this either I should have put it below this zone Um So this is a good lesson for you guys, you know in these thinner trader markets go a little bit higher You know, I just have a mental block like I don't want to give up that extra two points, right? I don't want to be selling Three points lower than and even though I know I should be right. I need to get cool a little bit below this Zone a little bit higher than very tick above or below these notes So that's a good lesson for you guys if you're trading like gold Nasdaq crude because it does the solid time what will pop just above and then it'll go or pop just below Then it'll go up. So we still don't really know what this is Scott I have a question on that like um because uh, you even before you even entered this you you You said like I should probably wait for this to go a little bit lower or and and You know yet you wow, you know, I'm just going to jump in. Um Now how how do you I mean to improve on your trading? Like how would you recommend like, you know us to go back when we we make like, you know, trade management mistakes or something that we maybe know better like, uh, uh, to, you know A debrief ourselves and and and change our our our actions Right. Well, you can see I mean I've been a trader for 20 plus years and I still do the same It's like sticking like a monkey sticking his finger in the electrical socket. I just keep doing it, right? So it's like you I verbally said it to you guys that I should probably go lower because markets have a tendency to go a little bit below You just got a file, you know, I I need to Again, I I you need to go lower Lower than these zones or higher than zones like by at least a point or two right and follow your rules You know, I I get negative reinforcement because a lot of times I will keep this really close and then it'll go right So then the next time I'll do this, but I know that it has a tendency, you know, it's just it's just Taking enough beatings in your life to know right and I still didn't do it Um correctly, right? So I the point is sometimes this works out for me Is it really worth the one point lower? I should go to risk getting stopped out like I just did Yeah, you should go an extra point. So that's one thing you guys should take from this is, you know, especially if you're trading my setups Go, you know, I drew the zone You know go so the zone I did go a little bit below but go, you know, three points below four points below it You know, that's that's gonna save you that would have saved me, you know That amount on this trade if I just went a little lower, right? And I still wouldn't be filled the same with the stop I should have gone a little higher Right, I don't know if that didn't really answer your question. It's basically don't be an idiot I mean, I don't know Yeah, I mean I said it I said it verbally to you guys and I still did the same thing Right that so, you know, even if if you're an experienced trader, we all know I mean, I'm sure there's experienced traders on here. We all have our weaknesses that we, you know That we make mistakes and you just gotta gotta be cognizant of it and try to change it And stop doing the same thing over and over and over like I I mean, I'll be honest like Scott like I kind of like it like It shows I mean it shows you're human I I just keep thinking like oh my god, this guy's just a machine and and like it's like no and not only You know, are you human? I mean you you'll you'll say it like, you know, I look I've been trading this long and I still You know Have some weaknesses working on So, uh, uh, it you know, it encouraged it's encouraging. Uh, it's like wow, okay, you know, right? So I think the the real problem is my success Over the years has caused me to think think I'm right, right? So I don't think in this situation. I need to go down here And and risk another you know and lose another three or four points on my potential profit because I am so Sure of my setups and I'm sure of what I'm doing that I think this is the perfect price to get in right That's that's kind of an ego thing where I just I think I'm right instead of just being safe cost to myself an extra Maybe two three points to so this doesn't happen. I mean look look at this This is exact takes both sides, right? And that's just my ego thinking knowing how well these setups work That I'm going to be right and that my exact price is right and when you start to get into exact prices That's where you get into real trouble, right? It's got to be areas. It's not exact prices, right? So when I draw these zones, yeah, that's an exact price But again when the thinner the trade remarket the more tendency it has just to pop through it quickly, right? You want to make sure if it pops through it has to pop through enough Or even if it does do this then you can say, okay, well at least I gave it, you know Three or four points. It shouldn't have gone that far below if I was right So again, I think it's just ego and me knowing how well these setups work that I think I could pick the exact price And I did to get stopped out to get filled and stopped out the exact price So anyway, if this comes back down now, let's we'll let's try to do it the smart way instead of like a monkey We'll put it down here. So I'll put it down here, right? I still have to contend with this buy this buy iceberg that came in over here. That's this zone but I there's enough here That you know that I think it can go lower and what I what I will probably do if it busts through this zone I'm going to put it in right now. Hey, and I'm not going to go right below it. I'm going to go Under here I'm going to add to that trade right because I know Fundamentally what I was telling you guys earlier about the options expiration today and all that I know we're in an important zone Right, I showed you guys earlier Right, so this that second entry is going to be very aggressive if I get filled, right? I know where we're at You know where this this zone has failed multiple times including The initiative selling yesterday at the close has started up here and this is where we're at right now So if this starts to roll over I know i'm not just selling to sell I mean I could sell just trading off the charts, but I know the real-time volume has helped me To determine that this is the area where we're going to stop, right? So again, I will enter in on this Sell ice this titanic that's still a titanic because it's not busted above And then if we get below this next zone, which was the bias earlier I'm going to add to that that's an aggressive entry Because of what I just showed you fundamental Yeah, just to follow up quickly on that. Kendall is asking So you you had long-term high liquidity large stop iceberg triggered Or stop Yeah, stop iceberg triggered as well as large delta dot why wait for 10 points to drop to go short Why not just you know Get in at the at At the top there Well, you could so that you know, you could say again If you are biased short on other stuff that you're looking at You can say i'm going to jump in right at the top of the zone And then you know It didn't really do it until right here and you can jump in right here And then you you have very little risk But your odds of getting stopped out if this turns into a broken ice setup where it rips higher Which is very very may well because you can see it's above here, right? Honestly long-term liquidity and we talk about this all the time This stuff acts as magnets because paper wants to get their fills here So this is the one thing that is scaring me about this short if I re-enter is They didn't get their fills Paper didn't get their fill here and it has a tendency to fill and then go but To answer your question. Yes, you can definitely get in right here I should re-enter right here But I'm gonna you know, I'm trying to teach you guys more conservative I normally would get right back in once it did this and pop back below I will get back in and you know put the stop right there But I'm going to be more conservative and wait for this to actually break below this zone Because this could easily just pop back up and stop me out again, right? Because it's not to turn on what this is this still could be Because we've been in this exactly what I said when this fired out I go this can trade in this zone for the next 10 15 minutes and it's exactly what's happening So you don't know what this is you don't know if it's a titanic setup Or it runs a new iceberg and fails or if it's broken ice where it rips through We don't know yet. We're still in the zone where this whole thing fired off So yes, sometimes I will get in up here and put it in But that's very aggressive as far as it's very easy for this thing to pop back up and you'd be wrong Right, but you're not risking watching. Well, it also is it can really kind of you know be Confusing And then you not know you're not knowing exactly what you're doing because well now you're fading the top But you know, you think it could break out as well So what are you gonna have to do reverse and then so now you got all sorts of trades going back and forth here Instead with this conservative approach, you're looking for something very specific And the follow-through Right So the entry is conservative. My risk is not conservative up here. The entry is aggressive But your risk is conservative right because you could hop back in here and you're only risking three points Which is nothing in the nasdaq, right? It's a sneeze in the nasdaq I'm getting in down here now i'm risking 13 points But it's more of a sure thing if this can actually penetrate the bottom of this zone Of the cell ice. Hopefully that makes sense Yeah, absolutely again, you know The trait this trading stuff that i'm the stuff i'm showing you the steps and everything else You know, you learn the setups and then you meld it into what makes sense to you what's comfortable for you You don't ever want to be a mere, you know, try to mirror me trading or mirror any trader trading You want to learn to you'll fish for yourself. What's that saying learn? I can't It's something about fishing for yourself. You want to learn to to do it on your own, right? So take these setups and you might say, hey, you know what if I get stopped out I want to i'm getting right back in right here, especially if you're if you're by a short you get right back in here, right? The point is take the stuff this this stuff is golden. It's it's the most I say it non-stop. It's the most powerful thing i've ever seen in futures trading. This thing is so powerful Here's an example. I was when I got back into trading You know, most of you guys know the story how I you know I was millionaire then I wasn't a millionaire because I couldn't make money anymore because the elbows drove me out the market And then dr. Brett steenbarger introduced me to book map and I was like, this is what I this is what I need I'm back. Like this is it So when I got back in I actually if you watch my first few webinars lat it was right around this time last year I think it started in november They were all on stocks because I was going to trade stocks because you know The futures markets one I have this animosity, especially e-mini as a ps where i'm even millions I couldn't make money anymore and even though this stuff is so powerful I thought stocks would be easier. So I train on trading stocks, right? I flip back to futures and stop trading stocks when I saw The si indicator that's how powerful this thing is so That that should answer any question about well, what should I trade it? You know what should I trade futures? I literally was on my way to being a full-time stock trader and switch back because of this si indicator My point is you know learn the basic setups in my course or through these webinars and then kind of come up with your own rules and things You know to that nature, but again, this is the most powerful thing that you can have as a futures trader There's no one on this planet that can tell me any different, right? So Again, I've seen it done it. This is the information that the big money adds, right? You don't think these big these huge this citadel these huge funds You don't think they have quants that came up that took the CME nbo data like the book map Elgo guys did and come up with their own stuff and they could see the same exact stuff That's why I say every webinar. That's why you see when goldman sacks that come out with the earnings Coleman sacks made money 199 out of 200 days last year It's because they have information the general public doesn't have like you do this I've said it many times having book map is like having your own personal Fund or firm that comes to you with new tools every month say hey try this out check this out See if this helps you with your trading, right? I use this story. I think I said last time I work when I when I blew out Um, it's trading scalping when I couldn't make money anymore. I didn't really pull out I just couldn't make money anymore. Um, when I left king street Um, you know, I traded on my own for a couple years and then went over to a firm called wolverine trading You're still a big um big firm on this street Um, but they're more algal driven, right? So they would literally I'm about to get filled on the street too by the way To see if I can actually get some So I'm going to do the same thing stops going to go in the same spot. Hopefully I'm not filled to the tick again Um, but they would come to me literally they would come up these tools just like this stuff It was nowhere near this because this was back in 2010 They would come back, you know, they didn't have this data But they would say it would come up with this algal. I'll go that's you know, based off the You know the the top weighted stocks and the s&p when they're breaking then it automatically sells futures blah, blah, blah And they say do you want to try it out? Like, yeah, right? So that's what that you guys have your own personal trading firm Per se that is coming up with these incredible tools for you to decide which one you like Wow, I like the s&p care. Wow. I love I love absorption. I love to see the absorption I love that indicator. I've seen see a lot of stuff there It's like, you know, the opportunities are endless and they just keep coming out with more and more stuff So my point is that's why I'm always, you know, just tarping on book map and what you have You guys don't really realize what what a gift this is to have this information, right? Um, all right. So I'm I'm sure Again, I mean, look how ridiculous Just look at this ridiculousness got filled to the tick short got stopped to the tick long So at least at least if this comes back and stops me out, it won't be to the tick This is I cannot tell you how often that happens to me Because my prices are just the best prices on the planet, I guess, right? But again, it's because I know these setups work so well I get a little greedy in my entries and it cost me many many times So one thing you can learn from this webinar if you have the course go a little lower, right? Don't go right below the zone go three points lower go three points higher, right? None of this would occur if I just would have done that, right? So anyway, I'm sure you can see where do we bounce? Right. So now this is a little ping pong battle we bounced this zone was that by ice, right? How does this over here? That was the most bias of the day What was that? It's right here, right? Yeah, this was not a ton. It was a hundred Right, we showed this 101 But that's the most of the day. This is what I'm telling you guys go like this and scrunchy chart and say, okay What's a lot today? What should we know? Should I adjust my normal thresholds my baseline threshold? You know 100 100 it's looking pretty good right now. That's the most of the day on the buy side There was almost 200 on the sell side So again, this is a ping pong battle if we can get through this buy ice zone Then I'm adding as you can see my resting order here But we may get one of these for now Just because there's nothing going on, right? So it's a little bit of a battle between the sell iceberg up here and the buy iceberg that came in down here Yeah, I just wanted to follow up also I'm Kent on your point here scott and you you answered Kendall's question Um, but the um Kendall like uh, you know Scott is not interested in trading like the top just down to the the bottom of the range here He's looking for a follow-through in his setup and and as we've seen many times He holds it until it reaches his targets like uh, he has criteria Uh, it's not just to you know scalp and make some money. Uh, he's looking for you know Better risk reward ratio uh based on his setups Right exactly and I've preached this all the time to you guys about This could have been one of the trivia questions, but I'll just blow it now Where you want to be taking multiples on your trade you cannot as a click trader I say this all the time if you guys aren't listening to me about this then you know, good luck I used to be the ultimate Scalper the ultimate one for one less than one for one trader, right? There was there's a reason I don't do it anymore because it's not possible as a click trader to be taking one to one Or less on your trades. You may get away with it for a week a month. Maybe I've yet to met a guy that takes one for one who gets in who risks 10 to make 10 That makes consistent money all the time one because you're going to get elbow to death Right these elbows are designed. We talk about this just to whip saw you back and forth, right? To you're going to you're going to drive yourself out of the game because as a retail trader You're most likely paying what three four dollars a contract if you're trading the big contracts You can't you're gonna you're you're going to knock yourself out of the game, right? Because you're going to be grinding churning your commissions Trading one for one. So when you take trades when I take trades, I say to myself This has the opportunity for five times my risk. So this risk was 13 point We'll just say 10 points to make it easier for math math principal purposes I'm risking 10 points on this trade. I think if this thing gets going based on this stuff Right, I think this can trade down to the bottom of this balance area Where we traded to at the close yesterday the bottom of this range, right? So I'm risking we're right here, right? If we can get start moving I think this can be almost a hundred point trade, right? There were 75 take trade So I'm risking 10 points to make 75 that's 7.5 times risk reward That's how you make money. So what happens here? Just do the simple math, right? Say I already got stopped out. Just say it was 10 points. It was a little more than that, right? I lost 10 points, right? Say this rips up stops now again. I might I lose 10 points, right? Say it does it again. I lose another 10 points. Say I get I wouldn't get in this three times I'll get in the twice as you see that would be two times say I get another signal I get short one more time I get stopped out again now I'm down I've lost three trades. I'm only three today say right Then I get one more signal. I get in and I get my my 75 tick move, right? So what was this? This is minus 30 ticks What did I make on my? On my winner 75 ticks. What's that net? 45 ticks What was my winning percentage? 25% I lost three out of four trades My writing is not very good here and I still made 45 ticks on the day Do you see that's what I'm trying to explain you guys on how you want to structure your trades where you're going You come up with a thesis you come up and that's why I use You know, I I come up with the Bigger picture stuff. That's why you use the task stuff I'm gonna bring this up here too. I have to remote into my other computer To show you guys because I don't have Sierra chart on this computer, but I'll show you this quickly One second. Sorry. I usually have this up as I use it for my other trade room All right, so I literally remote into my other computer. So this is my other computer So I already know I want to trade at the bottom of the range and then I'll also use possible task levels for my area So this is you can see my position here, right? So what are some some possible levels? I like looking at the longer term charts So if we can bust down all these are mini market profiles You know, most people know what market profile is. So I will use prior areas, right? So here's the prior box before this last one, right? It's kind of hard to see this I don't know why this is so big but this is prior resistance that now is support once we break up And you can see held held, right? So I will watch to see when it comes down to this area what we do I may get out of a portion of the trade, right? But until we get down to that I'm not getting out of anything Until I we hit a level Possible older levels or if we draw a new box or I'll also look at market profile levels for potential targets, which would be You know, we bring this up here Right, where would that be somewhere down here? At the bottom of this This was the last two days merged. I'll look down here, which is pretty confluent to what I just showed you, right? So I'm looking for that type of trade down to these areas or I'll potentially get out of some So those are my rules, right? I'll use a market profile level. I will use a Taz level to piece out, right? I'm not I'm not getting out of the whole thing But I'll get out of a piece and then my final exit is When I see something on the real-time volume opposite Of what I why we just got in, right? We're just So if this thing starts to break, so now I know those levels down here Again, I didn't get the exact price as I can. I'll check that out in a second, but I will if I see so I say we break down and I see a I see big ice come in like right here, right? And it holds the same thing we've just been talking about just I just entered again for my second short, right? So what up? Let me cover this first. So now we have two positions on right? I'm going to move I'm going to trail my stop Because it should not get back above this again. This is kind of this is a Kind of hybrid trade like this. I don't talk about this in my course. This is an aggressive I can trade it old ice broken ice here But I'm going to trail my stop for a reason now, right? Because in my mind, this thing should not come back above this zone, right? If I'm right So I will stop out of this position right here Right? Actually, let's get smart You know, I'll even come back a little bit into that zone, right? And I'm going to trail this one down right here, right? There you go pretty close to each other. So I'm gonna I'm I'm being smarter than this one So I already cost myself, you know The thousand bucks on that trade just because I'm an idiot and didn't put it far enough But now I'm going to put this far enough back so that I trailed my stop for a reason, right? We broke this zone if this does come back, which it does many many times, right? You're gonna have to withstand this and just know that it happens and it doesn't drive you crazy Most traders can't stand we talk about this all the time too on these webinars when it comes back and it does this And it does this and it does this and you're like, I'm right. I'm wrong. I'm right. I'm wrong. I'm right. I'm wrong Drives you crazy, right? If you know your areas You say, okay, you can do this for the next four hours I don't care as long as you don't violate the top of this broken ice that we just broke down through I'm fine, right? So I even put it a little higher. I put it up into this zone You don't have to go that high. I mean ever some other four points, but I'm trying not to get stopped out to the tick again So You know have a reason to trail your stops not because oh, wow, I love this cash I gotta pay my rent. I gotta I gotta get the gi joe at the kung fu grip You know from actually I might use that as my trivia Where you're trying to make money and you're worried about the money instead of just letting structure tell you when to get out Right. That's where most traders fail. Most traders are staring at this The whole time and they see this start to evaporate. Oh, no. Oh, oh, no, I just had a thousand bucks and I don't That I say this all the time too that when I finally took off as a scalper when I turn into a million dollar trader I finally turned this off. I got it off of my screen and I just traded That's when I was trading this but I was just watching this watching this watching this I would turn it off and I literally have days where I had, you know, you know in the first couple It's like right now, you know, hey, I'm up money, right? But say you get another signal and you add to it another one and you add to it And all of a sudden now you're like You're just combined. They don't really know where you are in your p&l And it's just out and then you just trade what's going on There'd be days that I would turn this off and I'd just be trading trading trading trading I know I was doing well, but I had no idea at the end of the day I would bring my p&l I'd be up like $230,000, right? And I'd be like, wow, that was a good day And I wasn't if I was watching this, there's no way I would be This brings him in another story, right? Like the guys in my old friend the King Street trader guys I can't tell you how many of them they would go up and I see this all the time on my trade room too And I tell these guys it is the exact opposite way that you should trade, right? And I'm sure many of you guys are doing the same thing The guys at King Street would go up $5,000. Literally that was enough, right? What would they do? They'd turn off their screen and go to the game room We had a game room ping pong and video games and stuff and they'd go they go play the video games They'd be done for the day I was in my office all day every day because if I was I mean unless I lost or lost I would go home But you know if I hit my drop dead on the day if I'm up $5,000 Why first of all I'm seeing things clearly. So if you are making money on the day You're seeing things clearly things are working out for you. Why in God's name would you want to leave when you're seeing We all know how hard trading is we all know how hard the days are when it just makes no sense, right? So the danger is seeing things clearly you should not be leaving your screen. You should be trading What you do is you set a drop dead on the return, right? So if you pull back so you say you're up $5,000 and I I will bet you 60 of the people listening right now to do this exact thing They get up $5,000 or whatever your number is and then you quit, right? No, if you can make five you can make 10 if you can make 10 you can make 20 This is why I became a money and dollar trader, right? It's fine. I'm not saying give this all back I'm saying if you're seeing things clearly continue to trade you put a mental stop in just like you put a stop in the order book If I if I if I go back to them the only up three grand then I'm done for the day, right? I'm telling you guys that is All this stuff aside everything you're learning here aside that is the biggest lesson I can teach you is one turn this off And then I mean, yeah, you have to have to keep an eye on it If you're if you're gonna stop out going back, right? If you go five grand you go back only up three But you can bring it back up and take a look because you know if you're giving some back, right? But do not quit when you're making money you stay in front of that screen It's making sense to you today. Whatever you're using it is working. Don't get up You said stop, right? So for instance right now You know, this is this is saying plus two thousand because I crapped away the Thousand bucks for no reason here. So say I'm up three grand, right? And that's say that's a ton of money that pays my rent. You know, that's my goal for the day Um, or not that's not my goal for the day. I don't don't use that terminology, but I say right now, okay if I give back No, again, you're not trading this off of I'm confused. I'm being confusing here. So you don't This trade is this trade until I get stopped out, right? I'm not I'm not using because this is absolute. I just told you you're not getting out of this trade based on your P&L You're getting on this trade I'm getting out of this trade based on structure until I see something down here or a prior level that we were just talking about That's when I'm gonna get out of this trade. I'm not gonna get out of this trade based on my P&L My point is say this goes down and fills me and I'm up $8,000 on the trade. I will not get up and say, wow, that was a great day. I'm done I will sit here and trade and I will say, okay, you know what if I give back 2,000 I will be done for the day. So I'm giving myself 2,000 bucks to get back to the market on a new setup Not on this setup. This setup is done. This comes all the way back and stops me out. So be it My stops are in here for a reason not because of my P&L. I'm talking as a brand new trade Now you put on another trade and you lose back $2,000 of that 8,000 Then you can be done for the day I can't stress enough. Don't watch your P&L and then You know, don't quit when you're seeing things clear Hopefully that makes sense Yeah, very very nice And as Francisco is saying very great great insight here scott Maybe you want to cover those? The new indicator you have on there. I don't know anything about it. This is the first time I've seen it Yeah, so this is um, I'll put it in the room too. So this is another taz product. It's a This is a dynamic value area But I don't know his parameters. I don't know their parameters called the taz river. They just came out with it It's not even available on book map yet. It's only available on Ninja trader But these these I mean I have it here because they gave it to me to watch but it's not in production for book map yet But it will be just like these other, you know, it's going to be available for Trade station and these other those other software for it. But right now it's only on Ninja trader. I will put in the I'll put in the If I can find it here I will put in the chat You guys can watch a video on it of the two one of the two instructors Steve owns the taz and the retreat desk, but this is done talking about and you guys kind of learn how they trade it Um, but all it is is an indicator with the dynamic value value area And it's very reliable, especially some of these setups that they talk about again I'm just getting wind of it or just using it now But if you want and you have Ninja trader, you can check it out and I'll put this in here or at least watch what it is I think that we're you can see that right Bruce Yes, okay. So check it out. Um, again, it's not available for book map yet But it will be just watch that video and you can learn what it is and you can get on Ninja trader right now But um, so that's what that is they they built a thing for book map Which you guys can build too if you get there's any um computer guys on here You know that know how to write programs you can build and Bruce can speak more to this right now Because I don't know anything about how to do that stuff and you can put it on the bookpack market marketplace and sell it Right Bruce. Yeah. Yeah. Yeah Yeah, I mean we have an open api. I mean it's open architecture, you know If you're job is Java based make your own indicators and sell them or purchase other third-party indicators Like Scott Scott's courses on there as well. Yeah, so that right My my four courses are on there the site indicator courses on there Um, you know, this will be on there when it comes available But again right now you can just get it through a book map. I mean um through Ninja trader So other than that, I can't really speak to it except that it's a couple lines on the chart Three lines on the chart. This is the high high of the value area. This is below. This is the point of control Um, and you can see it respects it, right? So and there's strategies that they use if you watch that video like Once it accepts back into the value area many times it'll go back to at least the point of control or the other end Again, I don't personally trade off of it yet because I just don't know enough about it I'm not one of those guys I know so many traders are when you see a shiny new toy Like I can't tell you how many guys are watching this right now. They're like, wow that worked awesome That went right to the the bottom there and now it's selling back off. I want this thing, right? And that's fine to to research it but doesn't mean you get it and you just start throwing on trades, right? You got you got to do some back testing and and watch this for a while or I do Before I use it right just like I did with the SI indicator took me You know four months of watching this every day going back researching it learning the thresholds learning the setups You know figuring it out. So I'm watching this. I'm watching it intently, right? You can you saw the first time that I got stopped out You know, we stopped right at that point of control. That was right under that zone, right? Where was that at? Right here. So you can see here this black line is the point of control. That's exactly where that's why I said I should have put my stop under there. This is stuff I'm learning using this where you can use everything together, right? I saw a huge setup in gold yesterday where I don't think I might have Saved it. No, I didn't but what happened in gold yesterday was It came down So I was doing something like this, right where I was holding below the this Taz river And then you had a huge dumb and dumber It was a 400 plus cell stop in gold. It was before the market opened, which is a ton Instant rejection, which is a dumb and dumber meaning it was just retail again one of my five setups Retail's puking retail traders puking and then it rejected and what it did is it literally happened right below the river Puked and once it got inside the river Right to the other side of it immediately Right, so you can that's what I'm starting to see right some some ways to put everything together So when you see a dumb and dumber and it gets back into the river If there's no major levels and you can trade it get in and that could be that could be your target Right instead of old levels that I was just showing you in Taz things like that again I'm not trading off of it yet. I'm just watching it and you guys are getting the opportunity to watch it in action too And it's working pretty well today from what you can see, right? Again, it's dynamic But the best what they talk about and you can watch the video they talk about it where it gets to be really reliable is when it goes Horizontal right when we're sloping it kind of just keeps moving up because it's dynamic When we get horizontal that many times when you can trade the edges or once it gets back inside things like that again I'm not don't quote me on any strategies because I'm watching it brand new kind of like everybody else. So Um, all right, so still in this trade again Most traders that are watching this when that happened they peel up because they're afraid, right? I'm not afraid. I know my idea is not wrong unless we get back up here Right, or if I saw if I see something bullish, then I will get out other than that. I'm going to let this thing work And I have a feeling we're going to do that, but we'll see my feeling. I don't I try my best. This is another one on the weaknesses Again watching 20 plus years of market action You start to have some tendencies where you think something's going to happen And that's one of my biggest weaknesses is thinking something's going to happen like I did with this Stop up here, right? Or when I when I got in right here I thought that was the perfect price instead of market letting me know what's happening, right? Let the market tell you what's happening. That's just what you think. Yeah, you can have a thesis Like I showed you guys earlier. I had a short thesis for this market Based on everything I showed you But you know right now So many traders think that this is the end of the move, right? Just because they you know, again, they're looking at this or whatever the reason is I'm I let the market tell me what what's happening or I try to do my best, right? Any other questions Bruce? I'm not really just maybe Set your setup on gold that you were referring to Vin is asking I've been answering everyone else's question in here. I think I've answered your questions guys. I you know, let me know if not What what was this something on gold that you were referring to? I don't know. Maybe it was it. It might have been your absorption indicator, but maybe you're Yeah, I guess maybe the goal Oh, well, this worked here. This is today what I was talking about was yesterday set up in gold. There was a stop Dumb and Dumber sell stop Which is just that's a signal in itself and it just happened to be right under that value area Like I showed you and then it got back into the failure and ripped to the other side So again, you could have been saying wow, I got my dumb and dumber now. We're inside the value I'm gonna put my I'm gonna put my targets See how it reacts at point of control of this dynamic the river They call it or the other side of it on top of other areas that you may be looking at for for target Targets this one. This is a good example. This is where you're on right now and you can see this was the absorption So you can get the absorption indicator for any for any data feed, right? For this stuff, you need the cme mbo data, which is only Only rhythmic has this data, which is still baffling to me But they're the only people that put this data out and that's what this this is driven by that That's what the powers the s indicator this absorption stuff is based on another algorithm based on other data Put out by whatever they have for stocks. They have it for For the cryptocurrencies. They have it for futures. This is not the same data per se So, you know, this just happened to be in the same area and it could be taking consideration something this iceberg But they're not it's not a nice So bookmap had iceberg indicators before the cme mbo data because they can see the way the orders came in This just enhanced what they were seeing So my point is this still can be part of an iceberg based on their what their other algorithm they're using Again, don't be confused. There's no reason to confuse yourself over all you need to know is Where there's absorption and this just happened to be an iceberg as well So this was a cell iceberg and this was threshold. This was over 100 or 120 whatever this was and you can see this held Nicely, right? So what happened here? We came up We're coming down here. Someone jumped up and bought they tried to push it back up They ran into a wall of orders that were just dropped in the order book not a night But this was an iceberg as well could have been both or You know most of it doesn't matter. This area is important. That's all you need to know Big volume you look at this entire chart. Where do you see anything like that? Nowhere look at this entire day. This is what i'm talking about guys You want to scrunch a chart and say hey, is this a lot today? That's a ton There's nowhere near anything like this And you had absorption Look what happened The satellite this is a good example of broken ice, right? So that happened right here draw this in real quick. I wish I was I was talking about this but I was going over other stuff. So this isn't as straight as usual They always work out absolutely perfect when I'm not involved So that was the zone, right that this fired off And then you and that what's great about absorption you can get like exact prices of the zone, right? I love when I have an iceberg fire off and then I have absorption It helps me like if I like whatever trader up that was asking earlier What would you get in aggressively? This can help you get in very aggressively where you can play off of this absorption inside of this iceberg, right? I mean look look at this. This is again. They're all perfect Until I get in I mean this went a little bit below but look at this And they're all they're still very accurate when I get in not just me complaining But it's like it just seems when I miss these trades. They're just absolutely perfect So this one came down sell iceberg absorption try to get below No, try to get below try to get below try to get below we got above here It was gone and we really got when we got above the zone. We're gone now This is actually a setup here. I'll probably let's take a look at what we're on the chart Again, because I don't trade this stuff in a vacuum. I want to see I want to have an overall bias So that means I'm not just going to jump along here. So before I show you the chart, this is a setup right now This is broken ice, right? So what do we see broken ice? We have the cell That was this this zone when we break out of the zone so many times 80 plus percent in my studies We come back where you retest it. Why because the paper that got run over wants to get out They push it back into this area. They start to buy and once you start to see the blue bubbles come in It gets back out of the zone That's where you can go along and then you put your stop below them Below the zone again. This is a setup, but I don't want to just blindly take this. I need to know where we are In the bigger picture or do we look like in long? Not really. So this is what I try to explain in my course and everything else I said on an update to the course and not trading the thing in a vacuum This is still This could be bullish If you want to be aggressive, but what happened we're at right now This is a zone rejection rejection rejection and there we are right now If we go a little higher and get through here So you could get along here and if you're right, this is going to be a good trade Why I actually might take this trade even though we're in this zone with us because I can control my risk It's a pretty small zone that I like this Tail when you see tails tails are so powerful. This is a buying tail I mean and they try to sell it instant rejection, right? That's a tail. Look at this tail right Look at this tail Instant rejection leads to a huge up move instant rejection leads to a huge up move instant rejection Yeah, you got to get through this zone But I think this is a good risk reward trade on the long side and go right So I'm not going to take it right now. Why? Because I want to see what happens here. Here is a sell ice Way returning I want to see this zone hold If you could Scott go over the just right click on that absorption A square there Question was on your setting for gold I'm sorry. I guess maybe you'll have to go to the yeah up there I was hoping I was like, oh, do I there's something I don't know. I would love to know You can right click on it and it's just it's kind of hard to to select it But yeah, sometimes you'll get it right doesn't show you what the absorption I would love to know if you go to the settings. Yeah But but anyway, um on most things you right click and you'll you'll get it So you have it on 100 One second exact price And some where because if you don't have an exact price many times, let's take it off and see if this Yeah, it'll just yeah, right. So it shows you that right and this isn't as bad, but a lot of times you'll see like A ton of them. I don't want a ton. I want this few as possible to make decisions, right? So this just means over that second 100 100 the hundred traded over the over all of these prices, right? I want to know where the concentrated price was Or were it traded the hundred? The main hundred ways I gotta hit apply So you'll see this change There you go Again, you guys can go to the book now. I don't know if you want to put that in there that wiki page about that but Again, I explain it as best as I can but I'm not the developer So I try to keep things very simple all I know I'm sure the wiki the wiki page the page on what the blog page on the article of the stop iceberg tracker or the knowledge base Uh, well the stop iceberg and the absorption. Okay, so Okay, yeah, I do my best, but again, I'm not the developer So all I know is it's an important area and you can see how many times how many times does absorption occur today? None Right, that's important. You only see it a few times that's important There it is how many times of the big iceberg occur none one time up until this area is important So now what I'm looking for here is This was ice We moved away enough, right? I'm talking you want to get a little away from the zone You don't want to be just pop your head out of it. We moved away Now these guys are feeling heat. Whoever's sold here is saying, uh-oh This this is not working out as intended. We come back in It retests this is the pattern and then it goes so what I'm going to do is as soon as it gets out of this Zone which it's doing right now. I'm going to get in I'm in Stop goes where below the snow? right I'm going to go and I'm going to be smart this time because this is a thin or traded market I'm going to go a little little lower. It's the exact price thinking I know exactly where the market's going to stop Right, so I'll put it Put it all the way down there So I'm risking what 16 ticks a little more 22 I'm risking 18 ticks here Where do I think this can go? I just showed you let's look at it again If this is correct and we can get through these tails selling tail selling tail resistance That's why this zone is drawn here. I'll show you here This is an important zone. If we break it, we're going higher in my opinion. This is a selling tail. This led to this huge down move Resistance pull back selling tail resistance pull back pull back Now if we can get through this, this is the next area. So I'm looking at What's that price? 1893 is the top of this zone right So 1893 We're talking all the way up here. So that's over a hundred ticks, right? So I'm I'm a I'm risking I'm risking 18 ticks to make let's say a hundredth, right? So that's over five to one on my trade So that's what I'm trying to explain to you guys, right? So if I take this exact setup five times And I lose 18 ticks three times That's what 54 ticks and if I'm right once and make the hundred ticks I'm up 46 ticks You see you see why you want to trade multiples? You have your setups You have what you want to see when you see it you put it on you know the odds are in your favor Which they are using this information They're well documented You know, I'd say I'd say these setups are 70 percent, right? So you can be wrong You can be wrong four times out of five and still make money the point is I know now this has the fuel to get moving Right any questions? No, I mean we've we've gone we've gone through all of them here. Um, so Yeah guys, I Scott you've been going for like another you know hour and 20 minutes now. I mean You got a few things going on. It's up to you go as long as you like We're game But I know you have your golf day today. So up to you and and that trivia question For that course giveaway Try to think of the best, uh, how many people do we have? I'm 50 some 60 some Yeah, 57 So it's a It's uh, I don't know why like uh, uh, usually, um, it's about double that. Um, just uh, Christmas first of all christmas eve. Yeah only junkies like us are trading today. So that's probably Probably the main reason but the free giveaway too and I can say all right if you guys if you guys aren't interested and uh, You're gonna it's better for the others attending Here's your loose All right, yeah, so all right, so i'm still in this it's coming back a little bit but Again, if this comes back and stops from out then so be it. I there's nothing. Well, what was this? Yeah, well, I missed this here So this is a reason to get out right here Let's see. So this is cell ice, right? Here we go. Now I can move this now. I can move my stop down. This is a perfect example 100 is a lot today 100 is sufficient. That's this area To this area I'm gonna move my stop down and look where look where it stopped right at the bottom of that zone And before right so i'm gonna now trail my stop down a little bit above there So if this gets above this breaks this right Actually what i'm gonna do right here This is how you add to trades right? So here we go that started right around here to here Now i'm gonna add to this and then i'm gonna trail all my stops down and play off of this iceberg now If this gets a little lower, i'm not gonna get stopped out to the tick I hope are stopped into the tick. I should say So let's see if this trades through this Scott i'm i'm a little concerned. I'm confused I'm not Yeah, i'm not concerned. I'm a little confused though. Like the way I understood It last time like each trade is an individual setup. It might you might be adding to it But you have your own Take profits and stop losses or kind Your own it's your own setup For each individual add Well, that's what this that's what this is. So this is a whole new trade based on this cell ice right here This is a god. I'm sorry. I'm not even paying attention Yeah, my bad. Sorry. Sorry what just came here, right? So this they tried to buy heavy and they ran right into an iceberg now It's about to be a titanic setup where i'm gonna enter. This is a brand new trade I'm gonna enter in add in a four lot. That's a whole new trade based on this setup What i'm gonna do based on the setup is now i'm gonna trail my stops that are up here Which I just did down to here now i'm in that trade now. I have 12 on right? So what did I do now? I can trail this down based on what structure not my p&l, right? So these are canceled. This has moved down to here now. I'm in on 12 of them Now i'm gonna put my stop for that one here as well There you go. Now. I have this is how you catch month making I try like three counts for certain different people but So the point is I'm These are all based on different we saw this right? I got in the first one on that cell ice up there And I got in aggressively when we broke the bias that came in earlier We went through all of this and then I trail my stop based on the stuff now This is a new entry based on this cell ice, which was over a hundred which is Adequate for today again I try to go a little higher nasiq lately because it's been more but you can see here It was 110 at the peak this is another setup So I entered on this setup a broken or a titanic setup where the buyers ran into cell ice It got below the zone I'm in now my stop for all of them is dragged down to the top of this zone a little higher, right? This is how you add so if this thing gets going And I get another setup I'll put another trade on and all of a sudden, you know, if you're a four lot trader and you're trading off separate setups You can have 24 contracts on and you're not risking anything right and you catch that move you catch that 200 point down move You have a you're making trading day. That's the whole idea You wait for exact setups like this Where you get the trend and you get your setups and you add and you add and you add and you're properly moving your stop Based on structure Then when you get the big move you're making You know 50 times what you usually make in a day Then trading is about and there's another fallacy out there. They I get so many emails So what do I need to do to make, you know 500 bucks a day? You guys are not going to make money every single day. It's just not possible trading in this fashion, right? You just cannot do it What you want to do is make a little lose a little make a lose a little little lose a little break even Make a little lose a little and then when you have a day like this if this thing gets going This is going to be a monster trade, right? This is what you wait for you kind of just tread water Trying to make sound decisions and then when you finally get the runner and you get proper structure to add to the trade You get the huge trade, right? If this comes up and stops me out. I'm still going to be profitable on the day Okay That's what your goal is is to do In my opinion, anyway, that's what I try to do So if you see here, this is actually a decent level on the task to You'd see here. We're at prior support. So if this bounces off here I won't be surprised. I have my stop where I want it. That's fine But if this can get below here, so this was a prior. This is the 30 minute I'll look at 16 30s from my area. So you can see this blue support line It drew a new box the support moved down But this is prior support So I'd love to see this break through both of these and then we're talking right and then you can see up here We're under the 60 minute and there's nothing Till this prior box support down right around probably 12 6 20 ish So I'll look for there to start possibly if we come down it's 12 6 20 Right around there and I start to see like it start to reject. I'll get out of a portion of my tray Right, but I won't just get out just to get out if I see red bubbles right through that area I'll hold then I'll watch for this area Or or if I start to see if I see a bullish Because we're short I'm short if I see a bullish setup come in on the si Which this is starting to possibly be and then I'll cover it Right, I'm not going to ignore the opposing Volume coming in. I'm you know, I'm wishful that it won't but if it does I've gotta gotta be realistic and say okay I'll get out and then I'll wait for my next setup. It might not happen This thing might go another 200 points and you might not get one thing happening here Which I would love right All right So there you go short nasdaq added added added I will add again. They're all separate trades I know where to trail my stops based on my setups And speaking which now we will give away the si indicator course for one lucky participant I don't know if I want to do I wasn't going to do a movie at trivia, but it's It's older But you should be you should actually pay a price apparently if you haven't seen it So I guess I guess I'll use that so the way we'll do this is I'm going to ask a question It's from the movie trading places and again if you haven't seen it No, that's too bad for you. That's that's that's a penalty because you anybody It's one of the funniest movies ever and it's about trading and it's about christmas kind of so Um, the question will be on trading places first person to put the answer in inverse can monitor that When's the course just you know, you have to not have had the course before um So the question is Again, just type it in What product Were any murphy and danak, right? I I I should make I should make you name their names in the movie But I won't that's a little too hard What product were they trading at the end of the movie where they got the information from beaks To make the millions and millions of dollars they made to retire under the death of the uh The island at the end. What was the product? Oh, I mean like It's just um, and Kendall came in super fat. No, I think this is the answer. Um, it's orange juice Uh, well, you tell me the answer. Um, what what answer are you looking for exactly? What was the product? All right, so we got someone on the SP to I will get it to him. It's actually frozen concentrated Orange juice Okay, so let's see if anyone put that in I mean, uh, so Kendall like uh, that's that's the answer he's looking for Yeah, he got I mean it is orange juice But I would it would have been cooler if he said frozen concentrated orange juice because I say it like 40 times in the movie All right, here we go. No one no one put that in No one put that in so now someone did I don't know jello. I think that's pretty slick. Um, or I could have said the exact term but orange juice is correct We'll get it to Kendall Kendall even he he saw that one coming um and knocked it out of the park Like he kind of answered even before you just as you just as you finished Asking those trading places, which is a you know the trading places. So uh Kendall you are a proud new owner Of uh of scott's uh educational course. You don't have it, right? You don't have his course Because if you do we got to move on right to the next person Right, so I might cover something here because of this by iceberg coming in. So it was pretty pretty close To threshold we had 97 again a hundred today is sufficient So if this comes up above here, I'm going to cover I should cover all of them um, it's just It pains me to do so because this is not that big of an iceberg but I will cover um I will cover eight of them So you can see where this came in, right? So this is again, I'm basing it on what's happening in the market not because I love my p&l So that came in By expert came and started right around there. You can see it here, right? I'm stretched all the way up About there I'm about to get stopped. I was just gonna move. Let me see if I can move this. I'm gonna move a little higher So I don't See my this is my issue. I just keep these areas are so exact and they're so powerful I just keep putting them like right to the exact tick or I'm gonna get stopped out of this problem All right, so I stopped out for a reason, right? Doesn't mean I can't get back in right so for some reason if that stopped me out And this comes up and turns around and rips it just holds right here and rips right back down through I will re-enter at least four of them, right? um, if not I'm gonna let four ride. I gotta cancel this I'm gonna my stop for four will be up here The original stop that we just had in right now let that ride Just because I have I have the higher context bearish signal I think we can go lower and I mean if this was like 300 or 200 icebergs I'd be out of all of them. This was pretty close to Not a lot You know threshold is 100 but you can see here. That's just not a ton But I'll let this ride if I get another bearish signal I will Enter back in and for and then I'll build my position as we go lower if we go lower just like you guys saw So this was a great webinar to show you guys how I Shockingly, I it doesn't matter where I put the stop. That's going to be the exact stopping point, but um Hopefully you guys saw how to add to trains, you know, I think we I think that worked out last time too Where I was able to add All right, so I'm still short that I will add I will add to this if this does come down right now And break through this zone. I'll I'll get back in there for more But if we do one of these and go higher this this zone's done. I'm done playing I'm not going to play trade off of this zone. I'll wait for something else right another si indicator setup Preferably bearish if it's bullish, I will get out of my reigning remaining four Or if I get stopped out if it's bearish, I will add to the trade and start building the position again Great great stuff scott. I mean just just beautiful like a You just totally stand with your your you know your setup your strategy And you have your reasons Right, and it's all right here for you guys. I mean again This is the most powerful thing I have ever seen ever I switched from trading stocks getting back in the game using book map to futures because of this indicator and my setups so um So you have that and then you guys can watch the uh, you know the video on this taz river That just came out only available on the new chair will be available eventually on book map like you see it here um Gave away the thing. Oh, and I'm still in long bold We know where you know where I'm long from and where the stop is if I get another bullish signal I will add to that as well because this has some room to go. I think you know we have to 1893 Right. That's a nice risk reward um I think that's it other than that Everyone have a merry christmas Or whatever you celebrate hanukah Festivus That's another one. That's another one. I should have done what what what is the holiday celebrated and by george christensis dad and Seinfeld but yeah, you know, yeah, it just cracks me up. I mean like uh, you you guys like uh it's as soon as the the question is asked and it was just like You guys are just going through like uh, it was gold. It was pork bellies. It was uh, you know wheat It was it's just like it's throwing anything up here until we until the correct answer came through So You haven't seen trading places you are not allowed back on any of my webinars until you watch I literally did that in the wheat trade desk room. You can ask the guys and leave them somewhere on here I literally told them they could not come because I asked I said something funny like the gi joe with the kung fu grip And no one knew what I was talking about. I'm like, how do you guys not know trading places? So I literally told them they were not allowed to come back in my trading room I'm in the order flow room on the wheat trade desk They're not allowed to come back in there until they did their homework and watched it over the weekend And they all watched it and they all loved it. So I'm going to keep track. I'm going to go through everybody's name here And if you don't watch trading places, I'm going to you're not allowed on my next book map I'm just kidding You should watch it. It's hysterical. It's really good. Yeah. Yeah, exactly Eddie Murphy that was one Eddie Murphy was funny when he actually did Comedy stuff and it was kind of raw. It was awesome All right, uh, I think uh, we've covered everything guys if I didn't get to your questions I mean, you've got scott's contact information. Uh, kendall you've got his contact information as well Reach out to him and And the task up to guys you can like if you like those indicators I was showing you You know this stuff or the river you can get all that stuff If you click on the banner on my website, it'll give you I think it's 20 off of all the indicators or the wheat trade That's green too. Just make sure you go through my site to get that discount You see the rivers kind of holding up here now too. We came up here help again I don't trade off of this yet, but it's just I'm watching it contently Because this can just be another tool in the arsenal Um, but yeah, you can get those uh discounts there Along with book map discounts as well through my site Yeah, yeah sounds sounds great. Um, yeah, uh Thank you very much scott like, uh, well, you know, no no webinars next week, uh, everybody We're just gonna, you know, it's just not going to be a whole lot going on. We're just going to take it off And we'll get back in on january 4th Monday, so that's the schedule And um, yeah Congratulations kendo or you know happy Merry christmas, uh, merry christmas. Happy holidays everybody. Uh, and scott anything else you want to go over? Uh, no, I mean if you're going to give the course through The marketplace I put all your all the contact information in there guys. You have the link if you want This this si tracker Hey, I'm talking about the winner though. Uh, kendo, you know, if you if you want to give it away through uh marketplace If not, he can contact me and I'll I can send him the course as well for access to it. Whatever it doesn't matter Okay, okay, um all right, we'll just uh Hmm. That's a good good point actually, uh Kendo, I'll reach out to you and uh, we'll figure it out from there. Okay All right guys. Well, yeah, yeah, thank you. Thank you scott. Um, and uh, merry christmas Yeah, merry christmas to you and I will see you guys in two weeks. Appreciate it Okay. All right. Bye. Bye everybody. Thanks. Bye