 Good morning traders and welcome to the bookmap live trading webinar with Scott Pulsini a futures trader You may have heard of them anyone who's new in here. Let me just give a little bit of background About these webinars and and what they're about Well, as you know as a global plus subscriber what you get access to is An educational course and then forward-looking live analysis three days a week at the same time here 10 a.m So that you can apply what you've learned from that course in the live market and and Understand the order flow and integrate that within your trading strategies Then we have trading strategies from Scott Pulsini on Thursdays and on Wednesdays J. Trader Stocks trader so that you can then also bounce these ideas around and maybe a find something that works for you from a professional trader here that is Going to be taking some live positions. So this completes the education that you get with bookmap and one of the things that you really get here is Not just their setups and the strategies for trading order flow and their ways of looking at it But but the trade management and this is something that we're not going to cover I mean in detail we do cover it, but not not in detail in it in an actual trade in the live analysis webinars, but what they will hear because You know, this is very specific to their trading and that's something to take away here. That's I just think is golden So, you know that adds this other element in here If you like what you see from Scott, you can reach out to him. He offers Mentoring and education all the links are in the go-to webinar chat. So just click on some of those links there You've got his email. You've got all sorts of things in there his Educational course as well as here. Let me just go through it here is educational course in his trading room here That's on discord. All right. So Yeah, reach out to Scott and ask more about all of that Let's go through the disclosures and then turn it over to Scott 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 performance. So Like I said, this completes the education. This is not a shadowing trading room That would be foolish. Okay, pick up things here from a live or a professional trader in the live market and in Study them Integrate these these ideas into your trading strategies if you like them and they're very specific So that's why we have them here and in demo or simulation it, you know one one transaction or one lot Or a hundred shares or whatever can can make a difference in the live market. So I just needed to understand it that The realism here with the trading performance in simulation our simulator is very good. It does put you in the queue And you know, you will get slipped as well. But anyway Know what you're dealing with risk disclosure trading futures equities and digital currencies involves substantial risk of loss And it's not suitable for all investors and investor could potentially lose all or more than the initial investment risk capital is money That can be lost without jeopardizing once 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 and Good morning, Alan. Good morning, David and Let me turn it over to Scott and let him take it away. There you go You hear me. Yes All right watching goal here. I have a small position on This is a pretty crucial area. You see these top by steps just fired off here So I will be quick to cover this long or add to it if it can accept back into this area market profile area I'll show you here in a second crude ice iceberg sell CL 150 contracts all right, so See here your picture stuff that once we broke down from the other day Retested it yesterday failed And I'll show you this only in a second but failed at this song twice and now this is a straight the beeline move gold ice GC 172 contracts you're all the stuff firing off. So this is some good participation here I actually just covered one I shouldn't have I should just hold on but we actually why I covered one of them Just because this is an area where it could do this. I Love trading. I love fading areas. I you know It's not that you fade directional conviction. This is 100% directional conviction, but I Like fading it directional conviction when it moves into a very important area You can see we're coming into this high volume node. So yesterday we failed at the bottom of this Now we're coming live. I am now. This is a straight move. I will short this here if I get the right setup With the bottom so I'm long, but I'm going to cover this here if this fails up here And I got a one little lower. I'm going to show you your why and then I will flip here so You can see here this was a so these blue our composites these are two days or two or more days merged See we opened up here this morning got immediately inside here covered this entire thing and now we have come up to this area here so This is a very important area size for my CEO whether this accepts into this market profile Composite in Market tendencies when they accept they go to the other side or if this fails back out of here, it'll probably come back down a year so That's what I'm watching here and especially Because we know yes the market profile is basically a You know, it's the same as the balance area stuff It's just a different look at it, but we know that this is From what I just showed you this is an important area So if we get a little higher Right if we're able to overtake this high line You know what of this balance that we broke down from then I'll change my tune But this is again one straight line you can see this prior zone I built from other stuff the bottom You know tail tail tail was the bottom of this balance area so this and then you got this So this could easily just do that again if we get above here Then I'll be looking long for sure So you can see here it's like just starting to struggle here, so I'm gonna probably Based on this new signal get out of this This fails you can see this four in the last stop run So there was back to back stop runs here I don't need to let this come all the way back on me to get out of this trade Out of this long because I know we're in a very important area So this needs to hold basically right here if this is going to continue higher. I'm basically just gonna stop this out I'll go half ATR below this latest zone so You can see ATRs to 27.3 is with the decimal so means ATR for five minutes 27 ticks So I'm gonna go 13. I'm gonna just go half ATR. I'm gonna go actually 14 ticks below this zone which would put me at Said she probably right in the middle of this zone, so I'll stop out below these two So this was a prior. This is the other stop run that just happened to see here You had this stop run here This is a stop and hold and then he had another Stop run right here, and this is trying to become a stop and hold as well Right this is on here So if this fails, I'm giving this a chance to fail and then it gets below this This stop run here, then I'm gonna be out of this long and then I'm gonna be looking for shorts You could actually go short immediately, but let's just see what happens here Could add to this as well See how far we got above So again, I like to see an ATR Move away from that the latest zone. So again 27 ticks Did this get 27 ticks above this zone here? We got up to 94 now I got about 20 ticks. So this is not enough. We don't really know what this is yet meaning as I say so I have Names for my setups, right? So there's either a dumb and dumber dumb and dumbers when you get the stop run There's no real buying behind it and then it fails as a dumb and dumber a stop and hold is when it you get the stop run It holds and then continues to go that means the big money is Stepping in behind the dumb money puke, right? So the way I tried it to judge these areas is by if it is and this is just my experience from using you know using this for almost two years now is No, I use ATR to judge the zone and you know to figure out what kind of setup it is So I need what sees 27 ticks above here, and then that would be a step Well what I tell my room, you know you guys this the zones are the zones that the areas are the areas that they're That's black and white what you can do is come up with different variations on how you like to trade these areas, right? You may not you may say the minute I see this stop run come in and I know we're bullish Accepting the market profile. I'm getting long right here, and I'm gonna stop out right there, right? Or you can you know do like me where I get usually I'll go full ATR below here I actually need to earn enough a lot times, but there's certain situations where I don't have to risk that much This is one of them that that's why this stop is here But my point is you can come up with your own scenarios of your own Strategies with these zones the zones are the zones, but you can trade these how you want to trade them based on your thesis of the market, right so That's how I trade them personally So we don't really know what this is yet again if this comes all the way back here sauce me out That's fine. It's going to be a small profit, but then I'll be looking for a potential short opportunity because again This is this will fail to accept inside this composite We'd be back out of here, and I'd be looking for a move back in a year But if this does hold I'm gonna go along and then I'm gonna look Remove back up in here. There's some other important things that I look at These are Ludwig levels been using these for multiple months now. They're pretty incredible It's port resistance and just gives you a overall Targets Again, she doesn't give up her secret sauce. She's been a business for probably eleven twelve years I think and she has many followers. So these are based on Something with market profile volume profile, you know, again, I don't usually use mystical indicators, but I Have an idea based on what I wear these draw like they they have something to do with the market profile And they're they're pretty incredible. I mean guys in the room all they do is like, you know Yes, new lugs and Q new lugs. So these are awesome to use with yourself, right? So you can see here We came down here last night. We couldn't hold below the show We call these baby lugs bounced off this twice got back above and we broke the red lug built new lugs So a lot of times many times when you build new lugs, it'll go to the next lugs So the red is resistance the bluest support. So that's where we're at right now And you can see this resistance is right at this profile that I just I mean Yeah, market profile composite profile that I just showed you so this is a very important area This is what I'm saying. You could go along here if this that that Stop and hold holds on the book map, right for a move back up in a year And you can see the red lugs pretty close to that if this fails You can play and move back down in here at least to the top of this prior profile I just showed you right so that's how you kind of use these in rejection You can see that they pretty much in line up with the market profile. So that's how you pretty much bet that they're That's one of her she says she has about like 12 inputs, but that's obviously one of them So again important level right here I would prefer to fade this because again that's straight B line move I told you but this could Goals a different animal go to do this right like the directional conviction can go on for a long time So I'm aware of that as well. So we'll see here And last once again, I know it's been a lot of time on this, but nothing else is going on here This is an important area this could do that We get through here then We're probably coming back into these areas here where this failed So watching that again, I am currently a long tiny I Will stop out if this does get an ATR above every test failed and I'll go along I'll give it the longest shot. I mean, I'll add to this. I should say let's check out some other stuff So these equities equities are just in no man's land as far as I'm concerned right here Start with market profile Oops So you can see here This is a two-day composite Have that drum very well So you can see we continue to fail and I'll show you yesterday straight here We continue to fail at this prior Composite and we traded through here a few times, but it's still very relevant when you look at yesterday's trade This was yesterday You can see here Two different attempts to get in here failure failure Failure again. So if this market's bullish, why are we not getting into here and getting and ripping up, right? So again a lot of times we want to market test an area enough then it finally will break through But this is telling you a story. So Now when you merge these two days together and you get your composite This is telling me a story. So this is an area you could trade now I was thinking we're down here because I've been talking about gold for the last 20 minutes But if I get a short signal here, I will take it. Let's try to get out this failed again Now we're back inside this composite The tendency is to get to the other side one, you know, especially if it fails and then possibly out of here So that's what I'm watching right now When you look at it from this view We basically just we've been talking about this in the room We had this yesterday or a couple days ago We tried to break out yesterday failed But it held what the high buying node buying tail buying tail buying tail And now this is just building more balance. I mean, you can make this one big balance But whatever way this breaks is going to be the trade, right? If this breaks higher we're into that composite I just showed you I will go along and I'll watch this area where this gap down from And or back in this balance area broke out from if this fails Now what you have here Again, this is balance Balance this held We talk about this as a playbook one of the playbook options in the room where everyone should have this playbook where you have A balance try to break out build more balance and then if that breaks down you have a breakdown of this current balance Through the high buying node of the prior balance. That's a great trade. So That's the better trade for a short, but I will short this if I get a signal bounding signal right now I will short this up here at the top of this balance area because what I just showed you cannot get in that prior Composite right so It's been nothing size wise yet in the air that I could see So I'm just waiting for my buying signal. So that's this is how I trade right? I come up with my thesis of what I think is happening What story is unfolding right the story for me as we tried to break into that composite multiple times We're back in the current composite. That's a story of a bearish bearish story for me. So now I'm looking for a setup To trade on the short side right if we move higher that changes my outlook my thesis my story outlook for A bullish setup right so that that's how I train So I get my thesis and I wait for real-time volume And the most powerful thing on the planet the SI indicator for futures trading to confirm And then I train that way and you control your risk by the by the zones and the atr is from the zones Hopefully we'll get an opportunity To trade that I'm going to show you Here's and has that Same type of what this thing is just one big balance just today was a little mystifying as far as we had this I Can look like a fail breakout and this one actually dig it through the high volume node normal markets do that And this held and it just put in by and tail by and tail by and tail And came back and now this is just basically one big balance. So Breaks this way. I'm looking long breaks this way. I'm looking short I will possibly short up here Because I think we're at the same spot in here as we already asked. Let's take a look Same thing, right? What story is this telling me? My thesis Well, I just showed you that balance. We're basically at the top of the balance, but this told me This is today's trade. We opened up. We tried to get out. We couldn't even make it back to this guy We're back inside here So if I get a short signal, I will take it It's not the best place because we're pretty close to this point of control Which is just the area of a composite that there is the most trade. That's why it juts out Just imagine this as a statistical Those of you who've taken statistics, that's all this is. It's a bell curve flipped over, right? So this is where Statistics the more I can't forget the media or the mean. I can't remember. It's been about 80 years since I've been in college But that's what that is. That's where point of control is Um, so it's not the best place to trade But I the story that unfolded for me was we tried to break out of this couldn't do it If I can a short signal, I will get short. I will watch the bottom of this if we get out of here Then it's really go tight So that's what I'm watching. So right now I am short biased the equities And it's just as quiet as a church mouse right now. So we got to sit here and All right, so this is a Chance no, we I just went over this for the first 15 minutes of this webinar So this is another setup. We know we're inside that composite I will add to this trade if the worst-case scenario is now I can trail my stop based on this new setup This setup should not be violated the downside if this is truly bullish Or continue it is bullish, but continues to be bullish here, right? So here's your stop Let's see right here. This was 270 stop run Right. So now what I can do is Look at my atr So this is it for this market. This is do or die here, right? This is it. This is where high volume node. This is where this broke down from directional conviction started This is it. So it's either going to rip and then this thing could keep going or it's going to fail So I'm going to now if this rips up higher retest fail I will get long I was going to do it to this this prior stop that we just talked about but I never got that chance, right? We never got the atr a full atr above here We got close to retest it and then went But that's fine. So I'm watching this the worst-case scenarios. I can travel my stop now, right? So atr is 26 we'll say 27 is 26.4. So I'll go 27 ticks below this Zone that just fired off So we got 20 is 78 72 That actually puts me right in the middle of this zone, but So I'm able based on the new setups. This helps really helps you control your risk, right? It's not just this guessing game where You know, you don't know where to put your stop or you're doing what most traders erroneously do I'm going to I'm going to travel my stop to break even again the market doesn't care Where your break even point is meaning this thing, you know, if I if I were to put it at break even this And there's nothing here. This thing can easily do this and it means nothing. It just means you're getting algode, right? I'm putting this based on setup Where it shouldn't violate it, right? It's not because I I don't I just want to break even on there I don't want to lose profit back Again, the market doesn't care where you want to lose don't lose profit back The market cares about real-time volume areas that fired off and that's where you should be traveling your stops based on not Not where you personally don't want to lose money or get money back And that's what most traders do and that's why most traders don't make it in this game You can see where are we most likely about to about to touch I will watch us potentially get out of this if I don't even get a chance to add to this trade on this Notice that this goes straight here. If this, you know, we know how liquidity is a magnet It'll come up here if this struggles here I'll get out of this and then I'll wait for a retest and I'll get back in So these are what that's one of the areas that I get out. I will get out if liquidity fails I will get out of the trade At least a portion if I hadn't multiple on I wouldn't get out of the full full amount I wait for an opposing setup to get out of my full amount meaning So for this say I had two on I would get out one here and then I would wait and then I would wait for a bearish setup so maybe like a dumb and dumber or Sell ice came in and that failed during the titanic side then I would get out. That's a bearish signal Where not that I would go short based on my thesis up here But I would get out of the trade because of the real-time line setup. So for that it makes sense But as usual paper is going to get their way and we're going to go right up here and fill this liquidity You can bet on it any questions verse Yeah, just coming in now Gold stop pc 196 contracts How did I guess that so here's another setup kind of mad? I wasn't able to handle this But it is what it is at least I hadn't something on All right, so I'm just going to get out right now of that one lot I'm not going to even give this. I know this is a new setup But I'm not going to give this a chance to fail because I took out that liquidity If this gets above here retest and I'll get back in I'll show you what I mean here in a second But I don't need to see this come back a full ATR is what I'm saying to to give me out of this trade Of course, I sold right at the bottom of that zone That's fine No, you didn't there's it went it went further No, I sold right at the bottom of the zone I could I could have waited to draw it and at least gone a little bit below the zone Right I got out like right at the bottom of the zone and of course it did that That's fine Again, this is an area that this is do or die here for gold I can definitely see this pulling back and you know what you can do now is Wait for pullbacks and we talk about this in the room too. These are these are this is like a backing trade This is nothing to do with structure, but once you start to get these areas built Again, this is like Bruce said at the beginning of the webinar, right? This is obviously not to mirror me This is to come up with to see how I do things and come up with your own ideas Right, you're never going to make money mirroring someone mirroring somebody You don't know their thought process You don't know like for instance in this one right here This is I have a variation what I usually do because in my mind This is a very important area. I don't have to wait for an ATR. So I get out right here So how are you going to even know that I would do something like that, right? If you're marrying my trades, you'd be like, well, why I've been in trade rooms I've watched guys do this Especially when I was researching for my own trade room like I want I just wanted to see all the guys do it I had a couple guys that told me about trade rooms I would get in and the guy would be long and then he would just randomly get out It's like, well, how does that that doesn't help anybody that's watching you? You know give him a reason, right? So the whole point is you know, I try to give you guys my reasons as best as I can Because if I can't give you a reason then that's that I'm in trouble because I need to have a reason that I'm doing things But the point is come up with your own. I you know, I'll show you this I'll show you that I'll show you that I showed you market profile. I showed you the level of levels I showed you balance area stuff like that. Say, hey, I like that. I like that I don't like that and then come up with your own trade plan But what I'm trying to show you here is this is another variation of what you can play in these zones where Once these markets established these zones Just we showed like four or five of them yesterday afternoon alone in my webinar afternoon where This will fail Or this will stop here and then it'll move to the prior zones and then it'll move back And then that causes your balance areas, right? So you can come up with strategies Where you're like, you know what I'm not playing directional I'm just waiting for zones to be built and then when one zone fails I play it in the next one or I play it a full hourly atr into the next one, right? So like right now an hourly atr for gold is I don't use this for my For my stop stuff I do this every time I place a search for it and it's sitting here There it is. Just don't understand where my charts go Hold on Crews tops tops lco 226 contracts Gonna crew the second year But the hourly atr is 56.7. So 56 ticks, right? So you can say Once you get an hourly atr away from a prior zone and you get a new one You can say, you know, okay now i'm playing out of the out of this current one We're far enough away. We're a full hourly atr. Now i'm gonna play a fade We're struggling here With my 85 charts So meaning so we know that the hourly atr is 56 ticks, right? And there's so many algos that play atr So this first zone is obviously we're 56 ticks away from there, right? We're 70 ticks away So you can say if this zone fails i'm playing back Before I move back into this zone Right I probably wouldn't play because you again you got to judge your risk too So you say, okay, i'm getting short here. Well, where's your risk going to be you can go half atr So you're only risking maybe 30 ticks to make 60 or 70, right? This zone's a little hairy because this is only 40 ticks I probably wouldn't take that But you could again i'm just showing you different variations and how you can play these things say I don't I don't like directional trades got directional trade It happens 15 percent of the time 10 percent of the time which we just were just talking about this in my room Which is true. What happens 80 to 85 percent of the time range trade So it would probably behoove you to come up with a strategy where you're just trading You know in certain situations once these zones establish Then you're just trading from zone to zone to zone to zone because it happens all day every day and all these markets So that's just another strategy you can employ. We're kind of Working on that in the room I'm talking about getting another just another account where I just trade that in a vacuum right where i'm not paying attention to my My thesis stuff where i'm just playing zone to zone and there's something to be said for that too. So i'm just giving you guys some ideas All right, so again This moves higher here I need to see so for my directional stuff I got out here with that liquidity and I heard this fire off So i'm like i'll just wait so now if this moves. Hey look what's up here. I wonder where we're going This moves an ATR above here retest fails. I will get in And I'll play for and move up into this At least for some of them Right because again, we have now officially had an a failed Breakout I can't believe i'm going to do this again. There's my chart. There we go This is a fail breakdown Of this We got through there This could literally do this today. I've seen it many times in the old right So this is where this thing was if I could that retest fail I'll be watching up into the zone and that's right where that liquidity is So we don't know again We'll wait for this to Wait so i'm straight here. I mean all my charts So again, I got to see this go 27 ticks above here to confirm This is a stop and hold right stop run That holds Meaning it gets an ATR above Then a retest fails. I get in a half ATR. I'll play for at least up to there And probably higher And I pulled my stop and ATR below here. I usually go a little outside and ATR ATR and a half But you can even skip below this zone as well Through the ice iceberg by co 152 contracts. That's all I got that a call Until it happened so i've been watching that See what's going on. I took it on the chimney earlier and of course it finally I bought it twice So let's go over this so you guys can see my process So what did I answer the question first? I forgot the question even was Uh, no not yet Well, what's the question? All right. Well, I didn't even ask it yet. Um, okay Remember the question maybe that's why Yeah, no, no you started talking about something else. Um, uh, and no no problem. It's um a few different things I mean, uh, Alan is just saying that uh yelling and power test testifying right now So maybe a little bit of volatility Jumping around for no reason and then Let's see. Uh, Jay is asking about The indicator for support and resistance. That's the lead lead lead wig levels that you were talking about, correct? Yeah, go to Ludwig levels.com or her website from 1982. I actually make fun of her about it and she knows she needs to fix it, but Um, she has a three day free trial on there. You can check them out And then again, members of my room get a discount. Um, so if you join the room, I'll tell you about that, but Okay, uh, yeah, Ludwig levels.com the Mark is kind of related here And mark has some suggestions, uh, as well. He and I think both mark and jay are new in here. So To book map, uh, or at least book map education Um Mark says very Educational fascinating, but your setups seem to be relying on tools other than book map Can you point out book map displays or data? You're specifically Using in your setups. You mentioned a number of different considerations and it's a little muddled for me. Anyway is what he's saying um, and Anyway, I'll let you answer it. I know you are I'm going over very specific things in book map. Uh, but uh, I would just comment, uh, that these are kind of bigger picture Tools, uh, that is just kind of guiding him, but um, uh, then he's, you know, getting very specific with book map Right, exactly. That's what I said at the beginning of this webinar, right? I come up With a story a thesis of what is going on in the markets. All right, so let's go back to crew Since I wanted to cover that anyway All right, so I come up with what I look at the bigger picture stuff I start with my structure can structure meaning balance areas, right? Marcus trade in in Two states. They're either balancing Or directional conviction balancing directional conviction balancing directional conviction balancing directional conviction That's one of two states, right? So I try to determine based on how we're reacting at certain balance areas And if we're breaking out if they're failing to break out things like that I come up with a thesis for the day is my thesis always right? No, not at all But it helps me kind of clarify what I'm looking for, right? And I try to trade in that direction. So Um And then I I'll just use the other stuff to kind of clarify for me, right? So I look at that stuff and I'll look at the market profile, which is just it's basically This stuff just displayed in a different way that helps you understand more value is and now the market is reacting out to value And things like that, right? So Like I told like I showed you just jump to yes or nq Yes, it's probably better today This is this is giving me a story a picture of what's happening. This could not get into this prior Valuery Then we've accepted back in here. So if there would have been a short signal up here I would have loved to show her up here and didn't happen, right? So meaning I come up with my story and then I wait for the book map dying To confirm my story and then I trade in that direction and I'm able to control my stop my losses Are my risk On the setups, right? So that's why I love these tops top cell alert at ES 575 contract. This is a perfect example Now we are at the bottom of this. We're either going to bounce or we're going to move out I am I was Short biased up here I still am short biased for what didn't happen if this was bullish this would have broken into here So I'm still short biased, but I want to see this get out of this area So you see how I come up with my thesis Then I pull out my real-time volume, which is the most important thing you can possibly be using Because lines on a chart are lines on a chart and they mean nothing until the real-time volume Confirms or denies them, right? So that's how I trade. So now I wait for a setup. So now if this breaks This is 900 stop run. That's a lot, right? So this is right at the bottom. Let's draw this zone if this breaks I will get short because I know we're breaking out of that market profile. I already had a a bearish sediment based on everything we just talked about Now I'm getting the real-time volume to confirm it if this breaks lower. It's confirming my bearish sediment and then I take a short and then when you have the real-time volume setups You're able to control your risk. So say this which I think is going to happen But we'll see it doesn't matter what I think I have to let it happen, right? So here's your zone Is this going to turn into a dumb and dumber? meaning the dumb money puke the retail trader puke And then there's no real money to push it lower. We know this is the market profile low You could go long here if you like longs right right? Or it's either or it's going to come down here. It's going to stay basically in the zone It's not going to get an ATR above here And then it's going to go like this and then it's going to break and break down And this is my real-time volume confirming. This is a stop and hold stop run Holds real the big money comes in and pushes it lower, right? Meaning it wasn't just the puke selling There's real money continued to sell. That's where stop and hold is right? So I have my thesis. I know what I want to see And now I've you know, again, I was waiting for a short. I wish I could have gotten short higher at the top of this And then you look at this. I mean this actually that's nice. Sorry So what this is again, we talked about this earlier. This is the bottom of this So if this is about to break down out of this balance here through the high volume known to this prior balance That's negative as well. That's extremely negative That should be a playbook that we talked about in my room all the time for anyone in my room. That's in here Right, that's what I'm playing for Could this hold? Absolutely Could you go along here? Absolutely. Is there if if this thing holds you want to see so what do you mean by hold scott? Well ATR is 6.86 points meaning seven points So a hold of this area. So I don't know what this area is I don't know if this is a dumb and dumber or a stop and hold until it can get at least an atr above or below this again This is just from my personal experience studying watching this thing for two years On the best way to enter these trades and not just jumping in like, you know, I eat when I first started learning this I wouldn't tell you right there cell alert that he has 700 to contract I got huge cell ice coming in on this one, too. That's a Cell alert that he has 700 seven contracts. So again, you know, you have real-time volume in this This is going whatever way this breaks is going to be the move, right? And I'm I'm betting down I don't really want to go long here, but you could but what I was saying is you want to see this getting atr above and then you know whether this is a Dumb and dumber and then that would be broken ice too because now you got some cell lights coming in Or if it gets below here, it's a stop and hold and a titanic setup a titanic setup It's just literally like a market running into an iceberg. I know it's very technical and well thought out big Seacious so here I'm gonna have to draw this zone now you have 1200 cell ice in this, you know, we'll just draw this right here just Even though I'm gonna wait for a break of the stop area Just so you can see it. This is pretty condensed on top of it So how do I draw these zones? I you can see where this came in You can see it on the icebergs on chart, too Which is very helpful to figure out where to start or want to stop came in there You can see the big buy and coming in shine and lift it out. Oh, here's a mouth full of icebergs Cell icebergs hidden orders in the order book the big money, right? That's who puts icebergs in the big money because they can't just flash 1200 in the book Look at the size of this of this dome depth of market 80 80 100. What do you think? What do you think the algorithm is going to do is someone throw us in a 1200 offer The market's going to run away from it. That's what all those do, right? That's why they have to secretly put their orders in So it's only a fraction of that they have to display in the order book and then when it once it's hit Then it then it basically just shows Shows the whole the whole thing appears. So this was basically right here. Maybe like a you know, a hundred lot They try to buy a new thing and they can rip it and they're like, oh, no There's another 1100 behind there cell ice, right? So Hopefully you guys are following I'm telling you That was there there again. This is a zone within a zone The wrong drawing tool All right, so you can see here I'm just going to play. I mean, I know this is here, but I'm playing off of this zone so I'm going to need to see this And especially on the short side. So there's two ways you can play these zones. You can play aggressively Oh, you know what? I forgot to turn on. Sorry Totally forgot about my tick strike This really helps me decide if I want to be aggressive out of zones or not So whoever asked that question Who is confused before now, they're really going to be confused. They're like, what the hell is this now? These are just the stocks. Obviously the fang stocks that comprise the index The s&p that the highest weight of stocks in the s&p the nascent that the futures are driven to write from derivative, right? That's why it's called derivative So I like to watch these to see if they're hitting these stocks If I want to be aggressive out of these zones, what does aggressive out of the zones mean? It means I don't wait for a full at our retest fail It means the minute this gets a half atr above or below here I'm in I did say the other last webinar because I keep getting burned being aggressive. I've lost like I can't probably three or four times in the last few webinars being aggressive. So I did say on these webinars I'm going to be conservative meaning I need to see move away a full atr So that would be seven points right now I'll retest a failure half atr and then I'm in short and then my stop goes a full atr Plus a few texts because you want to get out of the atr range above the zone and then that's how I try right? There is there are times in certain situations This could be one of them because we know we're breaking out of this market profile if this moves lower right That you could be aggressive On the first break of that zone meaning so if we break out of here you can see there's nothing here Like this could be a huge move lower right So I know that so I potentially on first break meaning a half atr. I could just jump in here and that wait for this this this You're you're better off Waiting for that But the problem is You know because 80 plus percent of the time it will retest the zone then go But the time it doesn't retest the zone you're sitting here Besides yourself because you knew this was going to break and you were too you're being conservative waiting for that And it just does that that's only 15 to 20 percent of the time, but it does happen So that's what you as a trader have to determine based on where you are based on your thesis the better you get Watching these areas and understanding it you can say hey, I want to be aggressive here. I don't want to be aggressive So I may even though I said last time I wasn't going to be aggressive I know this is very important area if we break here. I may get in a half atr below the zone aggressively as long as three or four of these stocks are getting hit and I'll get it So hopefully that makes sense. We'll see again. We're just still right in the middle of the zone We don't know what this is yet Could you go long? Yeah, if your thesis is I want to be long Which you'd be a multimillionaire if you've been saying that for the last year and a half because all we ever do is that Right, I wouldn't fault you As soon as we break out of here You can be aggressive and buy it or you can wait for a full atr retest fail buy it and watch it rip And then you might move all the way back to their side The reason I am bearish is what we talked about earlier this had a chance Today if this is so bullish why why do we fail here again? I showed you this yesterday. It was twice. This is the third time for a bullish. Why didn't it do that? That's a story to me and I said I wanted to get short here. This is on the webinar and it moved all the way down I just didn't get my signal, but that's why I don't want to go long It doesn't mean it can't bounce off here and come all the way back and do this for the rest of the day It certainly can't so again if you like this area to get long Well, this volume setup could help this can confirm along. We don't know what this is yet till it breaks out of here, right? So you see how you can trade either way depending on what you think about the market I think we're going lower. So I'm not going to buy here. I will sell though So for that it makes sense Another thing you want to watch here we I've been burned on this the last couple days in the trade room It's good learning experience for everyone watching you get smoked You want to see when we're breaking important areas this or if we're at let's see we're at the standard deviation again This is going to confuse the newer people another thing that I watch, but you got to pay attention to So we are Algos running or 80% of the trade and these markets, right? If not more Algos love to trade. So this is VWAP. These are standard deviations of VWAP. This is the minus one standard deviation This is minus one and a half. This is the minus two. Algos love to play rejection of standard deviation back to VWAP. So this is not a good place 760 to contract to aggressively go short unless This tick is making extremes. Is it making extremes? No. So what I'm going to do I know I said I would be aggressive. These are firing off, but I'm going to wait for a Full ATR retest fail because this thing is not making extremes. What are extremes? Well, this what is this? This is the tick NYSE tick All this is showing how many stocks in the 5,000 plus universe of the dial stocks NYSE stocks, I should say are up ticking versus down ticking, right? When you can see where we're just within this five minus 500 plus 500 range This is not a trend type situation When you start to see and I'm going to give you guys an example of this one Once it settles down a little bit ma'am Whatever happens here that I'm going to show you but You want to see if you're going to push through these extremes of VWAP Like we are right now You want to see the big money you want to know institutions are playing How do you know institutions are playing when this thing starts making extremes and a great blog on that Um a great explanation of that and he goes into the deals dr. Brett steenbacher He's the one that very good friends of them. He's probably the top trading psychologist on the planet He sat behind me for a year. He wrote the book enhancing trading performance. I'm in that book The point is he knows what he's talking about and I'm going to actually find this right now I'm going to put it in the chat for you guys and you can read about the tick In case I'm not being clear He has a couple of different Right ups on this I don't know if this is going to go to everyone Bruce if not You can share it. So read that talks about how You know if the big the big money is playing if you start to see the universe the stacks getting crushed that would be minus 800 plus Right minus 800 minus 1,000. You can see here. This is just We're not there's no extremes here Scott click click on the it says, uh, you know, uh two and then um Select all all entire audience and then and then post that link Okay, there you go Yeah, there you go. So that's uh, dr steenbarger's uh log a blog there Right, so read that. So I I have been burned. I'm going to show you a couple of these again Once we figure out what's going on here the last couple days where I have shorted at the negative two Standard deviation being aggressive and the thing is just ripped in my face Right because this thing was not showing extreme values. So this is how you use this you got to be careful though it doesn't mean you know if we're right in the middle of uh Right to say we're like yesterday was it yesterday was a good good example You should So yesterday we weren't making extremes and we Fired off all the way down here. This is a 30 point move So this is where you got to be careful with the tick you don't say you don't use this as far as Hey, we're not making extremes. We can't sell off. That's not what I'm saying We could sell out 50 points What I'm saying is when you get to extremes like right now if you don't like the negative two standard deviation if you don't see All the universe is getting hit. It's very very likely to snap back Right and again, you can come up with trading strategies just based on the negative two standard deviation right So now you see we've actually made the sort of the largest Down ticket today. It's still not extreme, but we got to minus 650 ish I still want to see more than that if I'm going to be addressed it out of the zone If not, I'm waiting for a full atr Which is again seven points S&P stops top sell alert at ES 673 contracts six and a half points I said I wanted to watch I'm not I'm not gonna But then again, I wouldn't be aggressive either see how these stocks are not firing off I wouldn't have been been aggressive either way here and I'm especially not being aggressive because well, here we go This is what I want to see See that see how we're close. This is this got to minus negative 800. That means the big money's starting to play so hopefully I get a retest of this zone to go short there come all the stocks That's fine. I would not have been aggressive there at that but I have atr break of that zone because these were not firing off So now I'm just praying here is your atr Right You see why I didn't want to be long. This is why right? I just based on my Thesis of what happened if it was so bullish why didn't break into that prior profile That we're talking about so now I'm praying we get a retest. This is the problem if you are conservative You may not get the retest. This may just do that but I think there's a very good chance of that Because that's pretty much what it always does and I will wait for retest fail I have atr. I will get in short and I'll risk a full atr plus a point above this zone So hopefully that's clear Now we just wait Again, is it going to suck if this thing just free falls? It sure is and that's the risk you take if you're not It's a nice iceberg cells. Yes 161 ton for it. There's another thing you want to be cognizant of now We're at negative three standard deviation and we're near the blue love There's a very good chance this thing pops back at least to that zone We may get to the top of that zone and then take another shot at this So this is not a great place to go short right here. So here we go Now see if we can get this I mean right here, right? I want to see a retest of this zone And then a failure and then I'll get it Yes, I could just rip straight down and then that that's the risk I take right Now You had to decide how you want to trade it you want to trade it aggressively or not Any questions verse Yeah, so Regarding this question because there is some kind of back and forth here in the questions about Other tools that you are using like the algo guy And other tools, but like if I can just add a little bit here. I mean like what scott had mentioned about the Market profile and volume profile And he showed like the statistics, you know, like the bell shape curved and whatever like, you know, that that is A higher time frame outlook And then what he means with the real-time volume here is the then and now Like right now, what is it doing and where is it moving and where is it going and what kind of insights do you have? I've always kind of explained it this way. I hope it helps that When you're looking at a volume profile is tilted that statistical bell curve is tilted on its side, but it's aggregated data Within a long period, right? That's not giving you the then and now it's giving you the horizontal It is not giving you the vertical and that's why scott talks about the Real-time volume giving you this vertical element here To understand where price might be going Right. Well, it's a vertical element and it's the most important element right again. Yeah, these areas mean nothing unless there's real money or could be dumb money as well and let The real-time volume confirms your areas is what it does, right? That's why people that just play traders that just play bar charts I say every time for however many years I've been doing webinars with you guys with book map You know, you could be the best chart reader on the planet. You still don't have all the information I don't care how good you are at this. You can be 10 times better if you know Hey, you're like, hey, I this is my setup. We're breaking down out of balance through the high volume note There we go. We're breaking out of market profile. I want to go short here Unless you know if you don't have the real-time volume You don't have the full picture. You don't know for sure if this is going to work or not I know Based on all the stuff we just covered That's all telling me. Yeah, it's go time on the sell side, but I need this to confirm and we just did We just got an ATR below there. So this is confirming. This is a bearish setup Now I know I have a much much higher chance of success than just playing bars on a chart or lines on a chart Because the real-time volume is telling me something's wrong here as far as if you want to be bullish You're in trouble. You had a sell stop run That continued real money had to come in. We saw the tick making and you had sellers come in inside this zone right So that's real-time volume confirming your thesis. So again, if you're just reading charts, you're not you don't have all the information period I don't care what you tell me, you know And it's the most important information you can possibly have Yeah, exactly. I mean it addresses it very very well and Pretty pretty straightforward I can understand the confusion for some of these guys newer to to your your room here but You know, I can understand they're newer newer to to book map here. Um, so they're asking these questions about all these different things Right when that's what I explained too is, you know, this is the global plus webinar, right? This isn't for everybody. This is just for global plus subscribers What I've said since I've been doing these is this is more advanced, right? Because most of the people on here traders on here and watch Many many of my webinars. So I don't go into the basics like I do in the pro trader series things like that So that's why you may feel confused and like, oh, there's all this stuff It's just because I'm not explaining, you know, I I'm explaining it a little bit but not in full depth, right? So that's where, you know, if you want to learn more you can hold on me I do the mentoring you can come in the room Yeah, you watch me twice a day do this exact thing every single every single day So you'll learn eventually but if you feel lost, it's because I'm not Diving into the basics because most of the traders on here already know all the basics that of watching me in prior Yeah, yeah exactly and and that is the goal of these advanced webinars to You know immediately jump into the advanced trading um, let's see Some more questions here um, Alan was asking about, you know, how maybe gold relates with You know volatility and these you know, testifying of Yellen and Powell right now do you Look for any sort of kind of hedging opportunities of like You know, the stock market is starting to do this and I know that they are testifying therefore I will You know jump into gold to because the stock market is dropping people are going to buy be buying gold pretty quickly No, I did not trade like that. I've used my structure. I don't trade on fundamental stuff First and foremost gold does not trade opposite stocks most days anymore used to now. It basically does the exact same thing today is a different story, but I don't trade off of fundamental news. I let the market tell me what what the fundamental news means to it Right, it's not my job to say. Hey, this is bullish and I buy and the market just rips down like I don't And I keep buying because this is how traders lose money because they're convinced that's bullish Doesn't matter what you think it matters with the market things, right? So I don't I do not trade off that stuff I wait and watch how the market reacts and I watch my areas that I know are important And I wait for the real-time volume to confirm So it could be, you know, your best bet is just not to trade at all during the testimony during a number Unemployment or wherever waiting for a settle down and then getting back in right? That's the best way But to try to disseminate what's going on by what the market thinks that you know Is interpreting what is being said that is not a winning strategy And you will get your head ripped off and I and I do not look at gold versus stock like again It moves 95 percent of the time in the last five years. It's been moving in tandem three years It's been moving in tandem with the stock market. So you can't look at that either. So that's a long answer for no I just continue to use Again my areas that I know are important and you can see here. This is actually I normally would short you could short this straight directional mode, but since we violated that this could keep going But the point is I just use my structure and I use the real-time volume and I trade it I don't care what the news is. I let I let the market tell me what they think of the news All right, so as we're talking this is trying to retest the zone. So if it retest fails, I will give this short a chance What are we doing here? We're retesting the bottom of this profile So it could pop in here just a tad, but I'm expecting this and then that if you retest See if we get up there Like I said 85 percent of the time Especially any yes, it'll retest the zone as I say it. It'll probably come like within two tech one tech What is that? Yeah, two ticks and then I'm not on free fall like 30 points and I won't have to trade on So if that happens I'm still going to be patient, but if these start firing off again, I'm just going to hop in on the street so Then you have to determine based on your account size how much you should be risking we go over this every time This is the most important thing you can possibly do as a trader Is determine how much you should be risking of your account size You should never be risking more than two percent of your account size. Probably one and a half percent So how do I determine that? Well, I look at my zone first of all this zone went from Basically 52 down to 47. That's five points. I know the ATR is Six and a half so we'll say seven points. So that's 12 points. I have to risk Plus if I get in a half ATR That's another three and a half. That's so that's 15 and a half points Basically of risk from where I enter to where I would stop out So then I go to my little handy dandy risk calculator Everyone in the room has this actually they've worked on it. There's a couple different versions of my trade room So then I go this is based on a hundred thousand dollar account two percent risk Again, if you're trading micros and you have a ten thousand dollar account Which is all you should be trading if you only have a ten thousand dollar account is micros You don't have to do anything here. This is just a tenth of the value Right then so make this ten thousand in your head and then these are how many micros you can put out So full size if I'm risking 15 and a half points. I can only put on three right If you're trading micros you get a ten thousand dollar account you can only put on three There you go That's the most important thing. So here's the retest of the zone now Now again, I just don't jump in on the retest because this could easily not easily but happens quite often This can just do this or right through it go on Right. I wait for retest failure and then I get a half ATR So my half my ATR not mine. Yes, ATR is 6.64. So I'm gonna say seven So three and a half points below the zone. I already know how much size I can put on I could put on a three lot See how that works So we're going to go 47 Is that 44 43 and a half 43 quarter is my entry And then if I get filled on that then my stop goes a full ATR plus four four ticks I try to get outside the ATR you can put an ATR in half if you want above this now Gold stops TC 569 contracts This keeps rolling. I should have uh been paying attention because this was definitely a uh Brutus iceberg sell CL 150 contracts This has just been stop stop and hold say you can see every one of these Every one of these held This is where you get your confirmation. That was a good exit right there, wasn't it? Yeah I don't want another 150 ticks Brutus iceberg by CL 150 contracts anyway, you can see all these on here every one of these are Stop and hold stop and hold stop and hold stop and hold straight up And every one of them, you know if I still had position on I could have been trailing my stop based on the new setup That's the glory of the setup one of the incredible things of the setups We don't have to be risking Based on you know, for instance, if you're trading off a bar chart, where's your stop here? Besides, I just want to break it. I don't want to lose money on this trade. Where would you put your stop? I mean say you got long Right here, and you don't you don't have any other real-time volume information and you get long here Well, where's your stop going to be? You're going to put it all the way back down here. Are you going to risk 300 ticks on that? No, there's nowhere to really judge where you should be putting your stop Yeah, you can use like, you know other stuff like B-waf stuff, but that's the point. That's that's the glory of the Of the As I indicated where you get in the zones, you can trail your stop space at the most recent side because they shouldn't be violated If you're writing your thesis and they have not been violated, you can see this this thing can keep ripping What I would love to see now And try it here a little bit, but I'd love to see your retest of this Then go but this could go straight to this now. This is actually one two Let me see how important this profile is You see what we did right out of here, right directional conviction Very very very very important And this is where we're probably heading and this may just go straight there I would love to see one of these give me a chance to go along again and then move back up. It's pretty big move All right, let's see what's going on here So we did retest this ice zone too Actually what i'm going to do here Well, if this if this comes back so this retest of this zone so half atr out of here I will go short so I can go three and a half points below here It just saves me three points if these are fine or not So you see when I'm like if this was this this zone by itself Then I would wait for this and then more of my stop is here But you had this as well that was the 1200 cell ice which we just retested You know are about to fail So if this comes down here and I see these coming up I'm going to get in here instead of here that makes sense based on this new setup. So where do we bounce? This is why you have to be very careful And I always forget to keep an eye on this and it cost me dearly this week Of shorting it like getting aggressive at the wrong spot not that my thesis is wrong But there's a spot to where you want to be aggressive in this Spot you don't want to be like look at this look how well these lugs work We call them lugs instead of staying level with levels every time right and that was again It's minus one minus one and a half Minus two that was almost minus three You do not want to be shorting on that Very rarely will continue right when it pops back now We got the pop back to the zone now you can short and then give us a shaft to rip through there I'm going to give you guys some examples here in a second. I just want to see how this unfolds All right, this is probably going to take a while so So to show you what I mean about the tick and how it's cost me the last couple days like I'm on rookie amateur in my room See here So this was Monday's trade. I was short. Yes off of the Open So I got short. This was a titanic setup meaning There was sunlight. She could see the black zone. Let me move an atr away re-re-tested. We failed I got an half atr and exactly how I play all my zones right when I'm conservative I actually had seven eight points in my favor And I did not cover this And I'm going to show you exactly where it was and what didn't wasn't happening with the tick that I missed And I turned I turned a seven point winner and like an eight point loser More than that So I took like a $2,800 loss when I could at least got out of some of them there and I could help So what could I what did I miss that day? You know being the 24 year old 24 your veteran that I am And and didn't didn't even See this at the time. Here we go Look at what this tick was doing Again, I don't have the 500. I made the 500 after this debacle this day, but This is we came down. This is look at that, right? So this is Get a different color here again standard deviation I mean, um, yeah standard view app one standard deviation One and a half we came down to the one and a half This was add so that you had a proverb and talked about add again whoever was saying they were confused I'm just throwing more and more at you. But once you learn all this stuff It's just basically you don't trade off of each one individually. You just keep an eye on this stuff This was a divergence, right? We come down to a low in ES and this was not making a lower low So you pay attention to that But the main thing was we were at negative one and a half standard deviation where the elbows kick in the reversion The view app look at the tip. It was minus 200 That is not institutional selling at all that is just plying for for the elbows to rip it back in my face And instead of noticing that i'm sitting there hold the bag and then I get stopped out 15 points higher It was it was brutal, right? So then what I did as I went in so a day where it will hug We call it a hugger We do now after Okay, well my terms after I got smoked look at this day Look at the difference in the tick So this was on my on my uh, think or swim. This is just a negative two standard deviation So you see how this one This one did bounce up here the first time but the second time and you can see there was nothing doing Look at the second time looking so that that's that thousand, right? Look at the tick And then look what we did So that's when you say, okay, I can stay in this trade and I'm not afraid because the elbows are getting overrun So the elbows try to buy here this institutional money is pounding these stocks and then it hugs it See the difference That's what you have to be aware of if you're playing if you're into these standard deviations You have to be watching this to make sure you got some real participation by the big money So hopefully that was a good uh, that makes sense to you guys, but All right Was that did that make sense first? Is that meaningful? It should be because that's very very very very important that I Again when I'm in my room and stuff I'm trying to cover eight markets and I'm back and forth with these charts So you guys think you're confused try being me jumping back and I only have one screen to show it And I just forget sometimes like we're at I can't tell you how many I'm going back through all my trades See how many losing trades I put on in this situation. It's got to be it's a ton And that's just you got to pay attention to that and again my loss is your guy's game That's a great learning experience All right, so we're trying to rip through the zone. I never got in Never failed out of there. I'm just going to cancel this right now and you can see I'm starting to buy these stocks Well, I think Scott what you know, you're mentioning like Using all these different tools, etc. I mean Again, it's higher time frame outlooks That you're looking at here and then then you're looking at book map for the specifics within that higher time frame thesis and and a technical analysis So, you know, whatever guy gives you an edge. I mean that like, you know, maybe like David is mentioning in here He's looking at candlestick patterns on the higher time frame. Then he's looking at book map You know, you might be looking at fib levels and then you're looking at book map So for example, you're looking at your fib levels Then you're looking at the order flow around those fib levels Is it giving you an edge? Is it showing you something unique? Um, that that's the way to kind of, you know, consider using this product Right again, this is what I use you may say. I don't like any of that fine. I like using fib I like using bolinger bands whatever, you know Again, I don't use that stuff You may love it But how much more will you love it if you can confirm the volume in at those areas that you would normally short And then you get your setup. That's a short setup on top of it And I like sweet and I got real-time volume confirming my thesis my idea my short idea, right? Or you go to get short there. You're like, wait a second So say there's like a bolinger band or something and you were going to short it And then you see huge buy ice coming you're like, huh, wait a second I don't really want to go short until we can get below that buy ice And then you save yourself a losing trade Which is the same as putting on a winning trade, right? Because if you lose you got to make you got to make that that loss back with a winning trade And then another winning trade see what I mean All right, so this may hold and move higher and that's fine. So this is exactly what I'm talking about like If I don't have this volume information How many guys Just got short So it's how many market profile guys right now Let's get this out of here like this doesn't exist, right? Because there's so many guys that just trade off market profile. How many guys just said Yes, we're breaking down boom going to zero. Yeah. Oh, no, what happened? Well You see what happened. I mean we did get an ATR below this but We never got The ATR failure So you I didn't put a short on did I I was bearish I didn't put the short on because I didn't get my setup and now it's showing We have not got ATR above here, but this is showing. Hey, this this area basically held These guys were wrong This is this isn't an official dumb and dumber again because we did get an ATR below here But the stop run, you know, you want to see real selling they tried to sell it for real, but it just didn't work I never got in this trade for a reason. I need The way these work is you need to see it Move far enough away retest and fail. I could have gotten aggressive there But again, we're with a negative two standard deviation blah blah blah point is Real-time volume kept me out of that trade if I'm just trading market profile. I just ate it 15 points right Do you see what I'm talking about why if you do not have this information? You just are not sure you're trading with incomplete information and you are at a disadvantage This for the thousandth time the si indicator setups stops and icebergs are the most powerful thing I have ever seen in my 24 however many years 85 years of trading Period um all right, so Yeah, there's another question about I mean all these different tools. I mean we have some new guys in here scot. So just I'm sorry just to bear with it and answer their questions ATR. I mean scott is using ATR as a trade management tool here You know, that's um, you know outside of book map, but he's using it for his trading strategies within his trade management And you're getting it from the five minute chart. Is that right scott? So again, I used to use just standard standard Numbers for these zones right so I for es for instance was three points So I would say Okay, once I got three points below retest fail. I'm in But the more I thought about it and the more I started, you know seeing And now work as well that it should blah blah blah, you know I started like why am I not using more dynamic based on the volatility of the day that makes a lot more sense So I would use three points for Now, I mean again 80 of the time you can use those values. So it's three points for es It's 10 It's 10 points for nasdaq 10 ticks for crude 10 ticks for gc But you're doing yourself a disservice there if you're not playing the volatility of the day, right? So today you can see this atr is double what it usually is So why am I going to be playing three points if the atr is six like this is showing there's more volatility in the market I'm just this is just a dynamic way to play the zones. So I will use the five minute chart Atr 95% of the time the time that I will revert to The hourly where I'll use 20% of hourly atr is like after a number where it's like one Outside move right so say on a planet comes out and we do that. Well, this atr is going to be like You know 20 I'm just making an example, right? Am I going to play a 20 atr off of a one event move? No Right. So then what I'll do on those in those situations Mostly all news, you know number releases or so on and so forth. I'll use 20% of the hourly So then if you go to the hourly you can see our hourly atr is close to 20 So I will use 20% of that which is a four point atr So I use this when there's like some else not not if there's just an outside move an outside move is still a volatility market if it's an outside move caused by Caused by a number like like say the crude number comes out, right? I'll I'll go to the I'll go to this 20% of this until it settles down then I'll go back to the five to see what I'm saying So 95% of the time I'm using five minute atr and it's just a dynamic way to judge volatility as all it is All right, so what happened here is this still never got an atr above here So I still will meaning We never violated this this can still be A stop and hold there's a stop run and this still can be broken ice I mean a titanic setup right the cell ice. We never got an atr above here So this zone is still in play if we come back down here. I'll still short it We got let's see the top of this this zone is 52 We only got up to 50 We didn't even get we got barely four points above this stop zone atr is almost seven This nothing's violated a lot of guys got screwed there But this zone is still intact. So what I'm saying is These setups that I was going to short on this I still will short Same spot if this comes back down here because this was not violated an atr to the upside. So these are still in play And we just got out a bunch of clown shorts that weak shorts Right, and then that will be a move back Outside of this and I will definitely short it And this is another thing the market profile part once again, I don't claim to be some market profile Guru nor do I want to be I use in the most simple sense But this is what they call poor low right where it's like there's no they call it excess Where you see how this like excess excess where like there's just one bar there many times when you get Dual bars that are equal it'll come down and retest that area same with this right so I'm I'm still I'm still short bias. I'm not going to be long this market In my thesis in my bias until we can get inside this And again, that will also be a breakout of this So all we're really doing now is just bouncing around inside here But the next move down here that'll be through that book map zone I will short it again, and I expect to move at least to here. What's this? This is where directional conviction started very important Directional conviction is a very important one of the four main chart Points that you should be looking at Directional conviction topping topping bottom of balance hv ns and buying and selling tails Right, there's a selling tail. Oh look how good was that? boom Right the bigger the tail the more important it is Again, like he's saying I of course and like halfway through one of these days off my time to make it It's just very hard with the room and everything else All right We've been on almost an hour and a half. I'm going to give this a shot here to break this I want to see these stocks firing off. I mean I'll still get in I just I'm going to decide if I'm going to be aggressively getting it off of this zone or the bigger yellow zone here Again half atri out of this zone would be Right around here 45 ish or I can get in half atri below this zone because this is a retest fail I never got an atri above here, but I want to see this thing. I want to see these stocks firing off And or I want to see this thing making some extremes again Institutions show their hand too right like something this did make an extreme so this could come down and continue to do that It's not like we came down here and there was nothing happening There was some institutional play there again read that dr. Brett article. He's got like four or five and he has links to the Proceeding one proceeding one just click on those and start reading them. You'll find they're very very interesting and it's very very relevant so Keep an eye on this stuff Nasdaq's basically done nothing today as far as signals, but I'm going to go short this too Or just in the middle of this thing this breaks watch out We're sitting right here. That's not a good trading area. This is a good trading area. That's a good trading area You're trading here. This is what you're asking for because that's all it's done for two days three days four days actually Right, so if you're trading here, that's what you can expect if you like to be whipsawed This is your spot to trade if you want directional conviction these are your spots to trade So that's why you want to be watching our multiple markets So you don't have to play in bad areas. You're like just like I showed I was talking that I was on this webinar I talked to the room before I got on here and I said I'm not touching grains I don't like where they're at and it's confusing to me That's the whole point. That's the glory Of using of having multiple markets that you watch where you don't have to trade a market that doesn't make sense Or you're not you don't have a clear picture up. You just move to another market Here's nasdaq. Do you want to trade right in the middle of this guy? I don't Still painting a picture we tried to break out and didn't do it But I want to wait and see what we do down here if we can break out of here the 7 14 7 30 area Adios now we're gonna break it that balance. I just showed you So that's 14 7 50 ish. Sorry Yeah, 14 750 All right, let's give us a shot One of your big traders in here come in and sell a thousand lot to get this going Used to be me I wish now I could put on a six-slot That should I'll get back there, but Well, we can instruct we can instruct the entire room to do it and sim for you Yeah, that that's a good idea I miss the days of being able to boy this market around like everybody else does now And I have to not and now I'm the guy that gets bullied lots of fun What I used to do what's really funny There's a guy I'm not going to name his name I'm in before but we used to have that was already back then you can see counterparty So you can see exactly you're trading on site every day. It was me versus this other dude every single day And he can put on 5 000 contracts. I could put on three I knew when he was loaded up. He knew when I was loaded up. There's like a big poker game every day So anyway, he would get me so mad like I would be out of bullets I would only have a few hundred left or whatever and he just He got he was he was a complete market manipulator. He was crossing his own orders and just bad bad news We purported the c&e. I don't want to get in that story. I first of all get too upset But anyway, what I would do is I would seriously I would come up here and I would load up I would go like this and I would load up 401 lots like this And he'd be playing his game In back then like the technology wasn't it wasn't as sound as now and I would take this 400 lot order and I would drag it Like this Or it would be the whole order and I would drag 401 lots right into his Games and it would freeze up the entire market for like 30 30 seconds I would I did it so many times the c&e called us and said That we would be fine if I if I continued to do it. That's how much it was pissing the guy off Like he would just be literally just playing games playing games I would just load up drag and drop and it would be like For like it would go off for like 30 seconds and just freeze the entire market. It was it was so fun in those days There's a little story for you guys Yeah, now I'll goes do that all the time Yeah, well, they can't do it like that anymore, but yeah They definitely do it, but I mean that was just me trying to screw it the guy And it worked he did complain Uh Do you ever Have you ever been in contact afterwards? With who that guy Oh, no to this day if I see that guy in person. I will literally you guys will be sending me Uh letters to jail So I don't know if I I've told the story before there was one day where The guy ran me over and I literally lost 300 thousand dollars in like 30 seconds and it was just The guy was I'm not kidding you and I'm not exaggerating you used to video it We call the c&e in to show them the guy will cross his orders and make it look appear like there was Big big orders coming in the in the book and then people will jump on his coattails And then we'd run it right into his other orders opposite. It's a long story very very frustrating Where there's one day I lost like 300 grand like in heartbeat I was so mad. This is when dr. Brett was at our firm. I literally Got my jack and I and I was leaving the office. I was going to I don't want to say the firm I was going it was going to drive to the firm and I was literally going to go in there and kill again That's how mad I was the owner of my firm and dr. Brett had to physically cost me At the doors so I would not leave the trading the trading firm to go to go pummel this guy Literally had to stop me physically They call me down had my little session with dr. Brett went into his office had my you guys over watched the show billions It was just like that sit down talks me off the ledge Got my composure went in I made back that and this is the same day I made back that entire I was just like I was like An animal like out of control. I made back the three The 300 grand back and I made another 200 thousand dollars all on the same day scalpy So that was that was a funny story. I really miss those days Not one how to lose my mind, but Making that kind of money. I was thinking how dr. Brett was there. Yeah don't get it What it shows like that's a good that's a good learning experience for you guys, right? If these you know, especially the more competitive you are the more upset you're going to get when you're wrong When you feel yourself they call going on tilt, right? I was that was the most until I've ever been because I was going to literally go physically a cost a guy Right when you're on tilt you got to learn to recognize it, right? And then that's where you want to buy dr. Brett's books and and learn how to handle it The biggest thing is you're still going to get mad, but it's catching yourself is the key, right? Because when you don't catch yourself that's when you go on tilt and you cost yourself your account, right? So the point is from that story what you guys can gather from that is You know, you're losing it and you're start breaking stuff and you're you're upset and you feel like your head's going to explode Take a walk come back in the afternoon. You'll be amazed at how much better you'll do You'll settle down trust me. That's the best thing you can do All right, here we go. We might get a break here here are these stocks Let's see What's my ATR here? I forgot all about this 49 that is an entry Can we put on three though? So you've got a little outside 500. I want to see some I'm just going to get in this I want to see some stocks firing off, but this was a retest fail. So I don't always wait for the stocks when I get to retest fail All right, so I'll get in this Again, all I can trade is three because of the uh because of my risk, right? um Kind of lost my train of thought thinking about my old stories, but here we go right back out of here, right? Now this should do this if this does this again, then I'm Probably going to sit on my hands until this can finally break far enough far from far enough away from here And then retest fails something like that, but this is the chance. This is what I've been waiting for So let's see. So now my stop is going to go an ATR plus four ticks above her. So ATR is again was it six and a half or seven? 6.64 so we'll say seven points. So I'm going to go seven points plus four ticks and eight points So I got to go all the way up to year 60 And that's a big risk, but I think this thing can literally sell off 50 plus points if this is correct There you go. The stocks are starting to participate Let's watch the tick Let's watch the V-web I really want us to break through this blue lug and build new ones and that's going to really be confirming to me Here we go. Now we're coming back You got to be careful though if we come down here again This has been negative two if you don't see that tick making extremes I'm probably going to cover at least two of them And that's a spot gamma level two. We haven't gotten to spot gamma today very important as well So wherever it was complaining about this all the stuff I'm using I just keep Keep throwing other stuff. It's really not as confusing as it sounds. Yeah. Yeah, and I mean I just like to reiterate when it comes to the book map side It's it's it's actually really simple and straightforward when you're looking at the top seller that he has 518 compress. There you go guys. That's a hugger. This could hug the deviation now Here's your stop run now I can add to this trade and now I can trail my stop. Why because this is a new setup. There you go This is threshold 509 500 is my threshold You draw this real quick Port snaps back in my face I'm trying to use yellow for stop runs. I used to use red, but it blends in too much with the liquidity and I'm colorblind So that's why I usually get your one So there you go. So what could I do here now? I can I can trail my stop if this fails and turns into a dumb and dumber Again, what's a dumb and dumber? Well, it's it's a it's sell It's retail sell money Sell stops that have no follow through and it does that So now I can trail my stop an atr plus four ticks above this and that puts me at 48 That puts me I mean, I'm basically just into this zone But that's okay because this this should not come back if I'm right on what's going to happen Right, and I'll just basically I lose a small amount Puts me Right back into that zone, which I don't like but that's fine. Again, if my thesis is correct. This is going to not do that Basically, it's going to hold Again, you see there's real selling coming into this market I don't want to do that This is what you want to see when you're at negative two standard deviation for a chance It doesn't mean the algos won't be able to push it back, but you get a much better chance of this being a hugger Like this That's a hugger or it hugs its standard deviation And what this is like self-fulfilling right because you got those algos that keep trying to fade it And then they get run over because real there's real selling in the market They try to fade it they get run over they have to puke they have to puke they have to puke On top of the real selling coming and that's where you get your trade and here come the stocks There you go Now I can add to this too And I'm going to I'm going to add aggressively to this because if these are still firing off that means at three and a half points below here I'm going to add to this trade Because I know everything we've talked about this entire webinar. I know I want to be aggressive here because this could be the move That I've been waiting for What else is happening while we're breaking out of that balance You know, it's not the best place to add aggressively in the night of two dvr dvr nq's top december's top sell nq 161 conference S&P stops top sell alert at ES 10 57 conference. There you go. Now I'm not going to add to that one because I'm going to watch this one now See how this works guys How much better is it when you know what's going on in real time through the iceberg by cl 153 contracts now I could trick and trick all my stuff even more Now I can go eight points above this Puts me at 43 now. I basically can scratch a trade am I scratching because I don't want to lose money No, I'm scratching because of what the market's telling me if I'm wrong Right 43 25 or 35 25. So that's 43 25 See if I got that right pretty close There you go Now what I can do I can play or retest fail on this zone or get an aggressively See the stocks are still getting pounded. You could be aggressive. It's scary to be aggressive at the negative See this is good though. This is we're breaking the blue lug Sometimes these don't up there on seara So I'm hoping this build some new lugs See here. Yeah, it's still coming in though. That was max and not max, but that was even What was the negative 1100 This could be a definite hugger for a while So remember it's self-fulfilling right because you have these elbows trying to play that And the big money is coming in so the big money hammers them and then the elbows have to turn around and pew And that causes the self-fulfilling like hugger as as we call it As you see Hug away. I love being short this market. I love watching these guys puke self-fulfilling I'm still hesitant to add here just because of them where we're at, but We still have something on it S&P stocks talk sell alert at ES 611 contracts. So you guys in the other side spurred by nq 151 contracts So let's just start to watch the levels here. I don't think there's not much though And if you see spot gamma stuff, he's been talking about this 4300 area We could go straight there. First, let me trail this stop on this newest setup so you gotta just Don charts the best because With the sub chart it'll show it starting here, but you can just see it started over here So sometimes it like lags a little bit and you can definitely see that's where it started Right then you come to where it stopped So Scott, um, I there's a few questions that boy these new guys are really really Hitting us hard with the questions, but I just wanted to cover a few things. Um, uh, I I just replied that, you know is do you have a plan on your managing your stops? Of course you do You're when you add into a position that new position is now um The older position you may have taken some profit you may not have But now the stop on that new position is the overall stop for All of the positions So he manages the risk moving that stop down like that but Then is asking a question about Um, which I think is just brilliant scott. I I really like that. I've been using that in that for a while now And I love it. Um, the Using using managing the trades that way, um Because uh, you know, you're taking some partial profits. You're adding back in but your overall stop is well managed. Um And it's not me and again, it's not me based on my p&l, right? It's me based on these setups That's why this yeah And based on on that newer setup, right? So you're trailing your setup basically Right exactly. This is where this is where traders make mistakes, right? It's like They see this this is a good profit for a three lot, right? They see that like I don't want to get all right. I'm going to trail this thing because I don't I got to pay my rent The market doesn't care about where your order is the market cares about this So put your stuff above It cares about this it shouldn't come back above that as we talked about all day So that's where you trail your stop not based on your break even or I don't I got to secure a profit here You know, again, if you're using Areas I'm fine with that and you see we just knew true new lugs here too Ludwig levels right I this is where we're going is my opinion My opinion has been pretty Spotted on the day as far as my thesis, right? So you see how this works, right? It doesn't mean I'm always right obviously But when I am right, I take advantage of it when I'm wrong. I lose a little bit I lose a little bit when I'm right I kill it, right? So this could be a killing day here because I Definitely think we can get down to this area Quickly just to confuse some more people Actually, I'm not even gonna get into this today. This this is too much You guys know about Spagat Spokam the newer guys You don't even know about that yet get this stuff down first and then I'll talk about Spokam on the next one. That's the whole other thing, but He has us what I will show you here is his levels He put the other day that if you guys Seisberg sell cl 152 contracts If we break 4400 40 or 43 80 the next major stop was 4300 He talks in spx terms, but then here are the equivalents, right? So you can see right here. This is where I think we're going based on everything we've talked about Did I say 4300? Yeah, sorry So it's 4309 is S&P 43 49 99 and what's that next to? Oh the blue love right there All right, so let's make play some games to these and I still think we're gonna do that And manage this doesn't mean you can't stop out and get back in too, right? I managed my wrist. So I'm at least gonna make You know Where I get in here. I'm still I'm at least gonna make eight points on this trade if this snaps back It'll suck. Do I want it to snap back? No, it could absolutely. Am I gonna still have a profit? Absolutely If the snapback stopped me out and then something else comes in you didn't get right back in You don't have to watch this and come all the way back get out wait for next setup. I'm still bearish I'll get back in But I'm basing it all on the this stuff I didn't really get it. I mean I could have added I could have added three times here I just You know get us hard on the webinar showing you guys going back and forth the screens You could add it a half atr here. These were all fired off. You could add it at half the atr here I should have three positions on and actually I could have put on bigger positions because I wasn't risky as much With these newer ones, right? But what should cut it's fine. You know, this is just to show you guys It sucks for me because I should be making a lot more money, but it's to show you guys how this works And how I trade All right, I'm running a guess here But you guys know that these this again this could snap back just wait for No, we have been hugging. This is hugging This could just continue or it could snap back to here or here I doubt we're going to get back to VWAP today based on We shouldn't get back inside that micro profile mouth, right? This is what the whole thesis was about And the balance so we broke down we try to get back in Let's just look at today quickly and pop off here Broke down try to get back in no dice never got above that zone full atr like we said got back out Here we go go time But we could still You know this market you know what it does it could pop back here and then go I don't think it will just because of the because of what's really coming in here today There's real selling today based on this But if it does it stops me out and I wait for my next spot to get short This could straight be lying kind of like we saw gold go straight up today. This could do one of these today That happens five percent of the time today could be the day Okay If I get stopped out again, I just wait and I reload I was gonna show you one other thing Scott a question Vin was asking so we covered like adding in multiples on on one or around one kind of directional trade but what about just one trade and When do you move your stop to break even or if you do move it to break even Is the question from then I don't I don't ever break even I base it on if it happens to be breaking it break even based on the latest setup Say break even was you know a full ATR above here and then I break even if it's a loss then it's a loss I don't play break even. This is what I've been saying from this entire webinar This is where traders make mistakes Where they they get stopped out because they don't want to lose they want to break even and then the market Rips back everybody on here could attest to this Rips back stops y'all and then it breaks 50 points and you're sitting there holding your you know what thing Oh my god, I could have just made 60 points on this trade But I wanted to make sure I broke even the market doesn't care if you're breaking even look at this thing I should have three positions out on this thing. I always can find something to complain about by the way So like I said, this could be a five percent day that only happens five percent Times bird sell alert that he has 700 to contract. This is one area where I may take off one Spot gamma level. Looks like we're going straight there. It should be just a this should be a month This is what you guys go for. This is what this is the goal of trading, right? You tread water you tread water you break even you lose a little you make a little Then you get a month making gear making day and this is it right here I should have three positions on but that's fine. This is a pretty good profit for three lot Let's see that don't make an extremes it sure is I don't pay it. I don't I get this question all the time too. Well, here come they say it in the room a lot too They're getting better at it like here comes liquidity. This isn't this is yeah, it's liquidity. It's guy throwing in an order I don't care about that. I care about liquidity. I'm kind of like this one here. What do you think we're going? This is the liquidity that I care about So when you bring up your book map, you come up with your thesis and I forgot to look at liquidity today It's very very important. Look where all the liquidity is. Do you see any liquidity up here? No, it's down here What do you think we're going? That's a magnet paper gets their way The majority of the time why because they can push the market around Um, but back to your question. No, I don't I this is what I've been telling you guys this entire webinar. I'm basing my stops on ATRs from the newest thing I think this is a setup too that didn't I didn't hear anything Let's see Yeah, this is did I miss this this was sellice. This is a new zone. So now you'll see how I try all my stop This is the newest setup that sellice see this here You start it where it started. This is confusing because it's in same color So you guys see What you want to look for for trending moves, right? That tick is very important And then you start using this stuff But it's like helps you stay in the trade where you're now like, oh my god This is going to snap back like it always does because it usually always does that But if you know, hey institutions are playing today again, read the dr. Brett tick stuff It's going to help you tremendously. You're like screw you. This is going down to 4,300 You guys can try to snap it back all you want. I know what's really happening Right. So now Back to your original question. Am I trying to break even am I trying to secure a certain profit? No, I'm playing off of what's happening in the market. This is the newest setup I'm going to ATR above this and I'll stop out And or add ATR again is up to seven little over seven So I'm going to go seven points plus I go a little bit outside the ATR four points So eight points above this puts me at 33 50 So now I trail this down and if I was adding everything would be stopped out at 33 50 See how it works That's not on me basing it on my P and L Bruce you definitely need to if you can't post this one publicly. I think this is not that it Obviously, it's great that it's profitable. I think there are some really really really good lessons in this webinar Yeah, and it's like an hour and 50 minutes so far right All right, I'm going to just hold this for one second and see if we can swipe down to this more 43 16 spot game a little But this is where I think we're going and lower I think we're going to get down to the blue low too But I'll watch this too to get out of one But I could add here too. I just the problem with adding here Is you might run in that so I if we do this this this I'll probably add but I'm not going to add aggressively But you see like it's continuing because they're pounding the stocks They're pounding the the fang stocks that comprise the You know the majority the highest percentage index and they're pounding the overall market So this tells you I'm going to give this a second. I got I got it. So even if this snaps back Yeah, it's going to suck to give back 10 points, but I still have a very nice profit, right? And I wait for my next setup. I'm still bearish See these algos are trying their best This is negative three two. I'm sorry two and a half They try to buy each one and then if the money keeps coming in the big money selling They turn around they try to buy it and then they got a puke try to buy it and they got a puke It's just a self-fulfilling hugger This is a hugger And we know why it's a hugger because the tick has been used and you saw you saw the tick keeps saying the same stuff But so it's a great day and we're home into your brain All right, this could pop back to here the olug and then do that. It could even come back to there I doubt it But it could and I'm still looking short and then this is what I'm going to show you guys Structure wise what's happening here the four-day balance breakdown Could this market just do this straight right in here and there there's that level again It's about gamma blue lug directional conviction. That's where you really want to look for pop Can that go straight there sure can going to do this sure can Right it could do this and still be bearish it can even come up to the high volume node and still be bearish I know all that That's I know that's that's why I would stop out and then wait for these other areas to get short again, right? But I'm not just going to get out here. I'm going to give this a chance to make it here I think I can because we know the big money's playing today All right, Bruce, there's no other questions Yeah, no, I think we we uh We got to all of them and quite a few today. Uh, just just one thing though, like um, uh, really nice to see here scott is um Because during these webinars, you know about an hour hour and a half usually you go about an hour and a half Uh, and you know, you're looking for these bigger moves to to play out Well, here it is. Um, it is playing out. Um, so You know just to temper expectations like a lot of time and these things they will they will play out for hours You know, so it's not just you know We're using order for scott is using order flow here on much much higher time frames. It's not um You know scalping back and forth and making this or that or whatever You know, he you've you've seen he's outlaid or laid out his entire plan here several times over on the higher time frame What he's looking at and then what he's looking at in book map and then how he wants to manage it Again, I think this is a great webinar. It has nothing to do with the p&l. You don't want to lose It's still a learning experience and that's what it has to do for you guys Hopefully you got a lot out of this webinar. There's a lot of good points that were shown and made and everything else, so All right, that's it for me again if I this comes up stops me out It's still a nice profit and I wait for my next short signal That's all I do and again, you know on the regular range trade days And this is not one of them, but you can play you can come up with your own Own signal where you play You know zone to zone or zone to zone zone like we talked about earlier in the webinar There's different ways to play these zones, right? But the real time buy-in is what is the most important thing and for the thousandth and one time is This indicator is the most powerful thing I've ever seen to trade with ever All right, Bruce. I will See you guys next Thursday. Yeah in October. So, uh, thanks Scott great great webinar Thanks. Appreciate it. See you guys later. Okay. Bye. Bye