 All right. Good morning traders and welcome to the book map live trading webinar today with Scott Pulsini. I'm your host Bruce We do this every Thursday Scott trades live if you guys don't know who Scott is he's been trading for quite a while And has a really pretty incredible back story here that he was Trading 10% of the S&P e-mini volume Back in the periods between 2002 and 2005 So we're very lucky to have Scott. I have contact information for him. He has a website email Twitter He has a trading room and educational courses here So you can reach out to him directly if you have any questions Let's go through the risk disclosures and then we'll turn it right over to Scott General disclosure all book map limited materials information and presentations are for educational purposes only and should not be considered specific investment advice nor Recommendations live trading is in simulation demo paper trading mode and strictly for educational purposes Live trading executed in simulation cannot accurately represent realistic trading performance risk disclosure trading futures equities and digital currencies Involve substantial risk of loss and is not suitable for all investors An investor could potentially lose all or more than the initial investment risk capital is money That can be lost without jeopardizing one's financial security nor lifestyle only risk capital should be used for trading and it only goes with Sufficient risk capital should consider trading past performance is not necessarily indicative of future results Alright Scott. Are you there? Hey, how are you? I'm alright. I'm alright. Thank you. So yep. Share your screen there and we can get started There it is popped out. All right, we're ready to go. So the usual screw screw the shorts Wait, I gotta make sure I have my other book map running. I usually use that overnight All right, so usual looks like the market's gonna die screw you move But these markets aren't some important some important areas Concealer these are the zones I draw for myself and for my room. I'm actually Probably gonna start a subscription a type thing where if you guys want these zones you can get them like a daily basis You know you can draw them yourself, obviously, but it's just a quick reference. Anyway, this is This is an important area. That's where we had this is drawn to this Sorry entail directional conviction down, but this was also the high-lying node of this Week-long balance area. So this is a very important area right now as far as You know many times in markets break down especially equities You rarely get that you usually get because that's just so obvious You have algos that play against that and screw it all the shorts kind of like it's happening now but the usual tendency is Breakdown and retest the low of the balance area then continue and or High-lying note this can get above here Then you're looking at a fail breakdown of the structure and then we're probably gonna get one of those So and that's what should happen, right? I tell my room every day, you know, you watch this that the high percentage Reaction would be that if this does get through there and then kind of just stalls and then does this again Then that's gonna happen, right? That's a very so if what you're expecting should happen doesn't happen You know you'll take some losses say this does get through the zone and I start taking longs right and I take a loss And then it's you know comes back down here Well, that's telling me something's up because if this breaks this zone right now, there's things should rip now I'm ready. I take my loss, but I'm ready to make multiples on the next move down and it's usually You know that the posing move is usually multiples of what should have happened Normally if that makes any sense, right? So again If this breaks through the zone on this should start getting up to these zones If this just hangs here after doing that and then starts off again Then then you're gonna start to see the meltdown. So, you know What I say all the time is you know when you see these breakdowns instead of trying to chase it Yeah, you could have caught a decent move here But the best trades especially in a trending market are waiting for retest some important areas That's when you take your shorts, right? This is a little different situation because this ADD is Extreme it's 2100. You know my rule my usual rule is I Don't take shorts when the ADD is it because it's a trend up You know 2000 is usually trend up trend down type of day, right? So if it's over 2000, I won't take shorts If it's under if it's under 2000, I won't take longs So I have to make a decision and you can also see the tick is just hanging up at it Hanging up here at extremes touch 1300 and it's just sitting up here, right? So this is not conducive to shorting you wanted this is called being patient, right? So this is an important zone But I would want to see this thing start to show that can crack at least the zero line, right on the tick That would give me a little more confidence to short But right now, you know, even though this is an important resistance zone in both these markets Actually, I think I got three s man, but You just want to be you want to be very careful shorting right now things can change that's like they always do But I this so this zone was actually at the bottom of this balance We are at this high-volume node as well So this is this I don't draw high-volume nodes unless there's something else there like I just did with the NASDAQ Because I can just eyeball it right it's not at the exact price point. It's just an area So this is where it's at right now. So this is very important Flection point if this can't get through here with ADD that high with the tick that extreme just sitting up there Then you're ready for Armageddon. So if not, then I expect the End of the year rally to get up to these zones and I will reassess as we get up there Some other points of interest we've been watching this more and more Bruce has been giddy about this product this add-on it's called the market Market or trader trader map pro So you can set specific sizes Where it only so this is just a different variation of what I'm looking at where you're not trading off of this or anything And it's not showing me the NBO data that stops rice purse This is showing me the larger sizes in the order book whatever I set so I set for ES 100 to 1,000 so it's just showing me where those orders are a lot of times. That's the real market, right? So instead of the bit asked all over the place Like this, you know, this is just Algoville. These are most of these these orders are algos These are the these are the big players that want to play ball. So many times you can You know space your judgment being in the day on you know If you see just the big players above while you know from prior webinars And if you watch book map for any like the time those are magnets And that's where we're going because the big players will push the market there Again, I know all of that because that's the game I used to play all day every day when I was able to trade thousand lots. So You know, I know I know the game and that's why book map is so great because it's showing you the game You know, if you're staring at a bar chart, you have no idea what what is really going on, you know And you may be a great technician Profitable, but you can be multiple profitable if you understand this have this information and understand it. So anyway You can see this came up here So we had a webinar with Bruce last week. He came in my trade room and Kind of went over this is actually supposed to be for me And then we did it in prompt to and invited my room to go over this but it looks something like this that day And we're down here Pretty much just like moving around down here and it was like this and this and so Bruce is like well You know, this is the real market a lot of times like I just said and he's like I will play for moving into these into these areas and I said well How are you going to determine which way we're gonna go? There's liquidity on both of these sides or there's big players on both sides He's like why wait for some cues like, you know, obviously that My bubbles turned down here, but you know when you start to see some You kind of wait and this is we're basically right after the open when you start to see Then show their hands as far as the aggressiveness and then you then you jump on I'm sure he uses other things that he's looking at but We did the webinar and and then we were sitting there and we started to see this type of move And he's like, yeah, I go along right here and it literally went right to the liquidity just like this So it's just very good information to have on which way we're going some days. It looks more rangy. I mean this looks like You know this may even So this is a good. This is a good example right here, right? So if this can punch through here, and you just keep seeing blue bubbles with no sellers Well, that's very likely where we're going pretty much right now, right? So just incredible information more incredible form information That gives you the ultimate edge in trading. I mean, I don't know how else to say between it between the SI indicator and this heat map I mean you're seeing basically everything that's going on in here Nasdaq's not as you know, there's really nothing going on here This just looks like what this does tell me is well, I mean when I spread it out. These are just 25 lots I have nasa except from 25 to 100 That's telling me probably higher here too Very interesting right just more information, but it's not like confusing information It's not conflicting information. This looks like this market with though, you know There's 80d that sticks stick staying up here that you see all the equity above you just say to yourself I am not a seller. I am looking to buy right and even if we're coming in these resistance areas, right? Yeah, we got through here So I would be the best trade here now since we ripped through here would be waiting for a retest if everything remains the way It looks right now wait for a retest into the zone that we just ripped through wait for a volume event that I trade Off of and then you go long and you're looking at this for some of your profit and maybe higher so That's what I am looking at now Yeah, yeah Scott that was that was We're actually in America made this going a little lower I drew the stuff from this directional conviction down and then selling tail selling tail directional conviction down selling tail selling tail Selling tail, but this actually is where this market started the other day down So this could be a place where this pluses not that I want to be a seller But you know instead of chasing this move up you say hey, this is an important area where this may Pause then you wait for a pullback here, and then you go long We will see and my main driver. I have my zones I have my thesis and then I'm waiting for real-time volume setups to take the trades because that's the most important Factor that you can be looking at Scott can you hear me? This was the open here Um There's not been anything since the open you had to stop running here You had some cell ice that just got blasted. All right, this was Let me take off this CBD So this was a cell ice here This actually did do an ATR retest ATR was only This just happened so fast. I you know like and I was waiting for these markets to die. I just kind of Hesitated here, but this was a trade right so you have that that was not threshold. It was over here This here so this was 250. I don't think I got an ATR below here Here was like 15 Yeah, it looks like so I I feel better about not missing this that I missed this trade because My rules are if the market is able to push an ATR below the volume event then the long is disqualified and vice versa Right, so I would not have gone along with this did do that But that would have disqualified it for me right at the open So I don't feel so bad about missing that trade and then this one was a stop run. This was threshold 157 So this one you would have to been aggressive. So this is what I talk about all the time I have two different entries for these volume events one It's aggressive the minute it gets 110 percent of a five minute ATR outside of the zone I get in and then I risk 110 percent below the zone Or if it's an area that's kind of shady You're not you don't have a lot of conviction You can wait for the ATR retest failure and I was watching this and I would have gone long And this is a perfect example of I didn't get the retest. So I missed along So you have to decide for yourself as a trader You know based on the other things that you look at Hey, is this a is this a setup that I'm going to go along on aggressively or I'm going to be patient and wait for that When in some timing the the rule of thumb is from my observations of thousands of these It's about 70 percent or more of the time. It will retest the zone eventually, right? But You are risking missing the trade and I missed this trade Not that I was going to go about being long anyway. I mean, yeah with the current information You know the most recent stuff. Yeah, but Structure wise, I wasn't very giddy about going long aggressively. That's why I was waiting for retest missed the trade That's fine. There's another setup right around the corner And you can see someone's coming in here and swiping this thing too. I'm sorry sweeping his Bruce likes to call I call the swipes You see by swipes by by sweeps by sweeps 600 700 So these these on their own you could make you know, we're not doing that. I'm not trading off of these specifically yet I need more information on the exact thresholds because for some reason these are multiples of the ice meaning my threshold for For icebergs to trade off of on the SI indicator the sub chart is 150. Well You know, when you see 150 swipes in here, it means nothing But when you start to see five six seven hundred like this, it does mean something, right? So you could draw zones You just imagine you are the trader with your offers in the order book here and you get swiped And then you're like, oh, yeah, I got it and then you get swiped again Then you're like, oh crap and now you puke it, right? And you can see they just someone is swiping the crap out of this thing If you don't think that's important information to know then You just don't know This this is very important information to know. So right now. Yeah, everything looks like You know lift off But pay attention to this area if this they keep playing their games and this kind of stalls and this gets below this area And then you're gonna get to sell off, right? But for right now everything looks like we're just gonna keep going higher So I have not got an actual setup but if you are You know Jones in for a trade you need you need your fix Well, you can go along here and you can risk below these where these swipes started coming in, right? I personally have to see something on the si indicator Right now. So I will wait there Um, and then as far as yes, you know, these aren't some very important resistance levels as well Right. So as far as spot cam is concerned You can see this one this one this one. So this could you know pause in any of these and then pull back, but We'll see. I'm not making any Decisions slash trades until I get a volume event. This one was actually close I didn't even see this because I have my alert set at 700 You know on lower volume days, you could bring your threshold down a little bit I usually don't because I've just been burned doing it. I try to stick I'll move it up meaning, you know on certain days, you're going to be seeing 800 a thousand 1500 1200 Well, on those days, you don't want to be using 700 You want to be using pretty much the average of what's going on here So I probably on those types of days are they looking for at least a thousand you know To qualify the setups As far as the threshold you only want to see You know three to five in a day As far as what what is a good amount to be trading right and it's usually about 700 But if you're seeing at the open and the first 15 minutes trade you see 700 hit like six times Well, you don't want to be using 700 that day up your threshold You've got to have you got to adapt a little bit You know Most of what I do is pretty black and white as far as the thresholds and the and the volume setups and how I trade them aggressively or or conservatively, but some days you have to use a little judgment, right? It's just like with the atr That's why we use atr to judge the Um volatility of the market, right? So I'm actually surprised this is not higher of this market It's just it feels like it's all over the place and this atr is only five points But you know, there's certain days and like we go back to this example every webinar You got these I know there's plenty of them on here and that when I put on a es trade I like to risk four points and make eight Well, okay on a day like today, that's fine. Well, what do you do when the atr is 10? You're going to risk four points? Well, you you have a Probably a 99 chance you're going to get whipsawed out of the trade because the volatility is saying you shouldn't be risking four points You should be risking 10 points, right? So that's everything I do is based on the market Market structure the volume events and the volatility and we have the spreadsheet that we use in my room We'll go over that as well. But you know, it's pretty systematic But some days you have to adjust especially with the volatility. So if you are risking You know two points on the estrades. Good luck when the atr is above 10 stuff like that. So Um, another market I'm watching here And I'll give you an example of the trade. Oh, man, I shut down my I wasn't gonna show you my other computer because Right now the um the limit for these trader maps are only five. Do you know why that is bruce? Do you know why it's only five? I'm getting questions in my trade room too Um, can you hear me scott? I don't know if you can hear me Hello Hello, okay. Yeah, sorry. Can you hear me? I turned on the yeah, I can hear you know, okay. Um, yeah, I think uh I'm not sure. I'll I'll I'll ask development. But I I think there was just a limitation because each symbol like uh, I think can have like Five or I I can't recall but it was just becoming like way People were starting to go a little nutty with it. So we're like, okay, let's let's let's kind of hold off a little bit for now um, but uh, I might be you might be able to to offer We might be able to offer unlimited. I you know, I don't know. Um, but uh, uh, yeah Anyway, I'll I'll look into it get an answer for you Okay. Yeah, because five is not enough especially for me. I'm watching 15 markets, but um, So anyway, I'll show you I just got to shut down one of my other he Trader but I keep wanting to call him he maps trader maps But I just want to see I should already be long this and this is trade. So this is the zone I'll show you in a second And if I want to go long, I should have been long so that's 773 and long 10 And I missed the trade so I'll put this in hopefully it'll Rotate back and fill me and we'll go over what I was seeing here as well And the trader map actually helped me with this with my thesis. So every day I open up my um, you know The longer term charts with the zones. I actually don't have the zones on me yet But let's just take a look at where we're at here The main thing I saw today was the the trader map, which I'll show you but So this is an example. I do have the zones on here. I just don't have my mom I don't have them with the labels on so I gotta get that some because I'm doing all these from my room And I have like 15 different markets and I update them each and every day But anyway, this market, this was a balance area, right And we break out and wouldn't I just talk about many times markets will retest the major balance area And at the high intake off and or the high volume node intake off If it gets to the high volume node, then you want to be looking to be a seller right now this bounced exactly where it should with a volume event that is a Good long granted you have recent structure here that you're below But what what's what's more important this a couple days worth and I don't know why this won't show me I keep having this problem with the thinkorswim You can see the actual Times I keep deleting this and again there you go. There's the days So what's more important? You know, this is you know, this is a decent area Right, so all these longs are caught. So this may may take some time to get back through this high volume node But this is much much bigger Right, this is multi-week. So this is still bullish A short term it's looking bearish, but this is an important zone where I'm okay taking that long, especially We gap down from here. I think we can maybe make it back up there, but we'll see and this is this isn't like slapping in the Face long, but overall bigger picture. It's long. I'll I'm willing to take a chance on it And then this is this is the thing right with book map If I'm just staring at this chart, I'm like, well You know, I don't know. I mean you got that we're above that but we're below this I don't know what to do. Well, the the real-time volume event tells you what to do, right? This is telling you go long and I miss this trade. So I'm just praying this comes back here This is a volume event. That's that buy ice. This was able to get a full atr Which is only like two at the time. It's 1.92 right now This was your retest. This was your failure. This is where I should have been long This is telling me to go along, right? So this is why this information is so important And then the other thing that I saw I got to close We got the crude number here in a couple minutes. By the way, so I'm gonna close this is ng Just so you guys want to see the heat map here If anyone wants to bet around a golf that we trade up to this price today, I'm more than happy This is quite a ways away, but you can see Black hole below and then you have this above. Where do you think we're going? These are magnets On the next side of that and then we'll open up one here. I want to show you something in wheat So why is it saying okay? So this is how you do it right you create and you name it whatever you want to name it add and I want to do order size filter So in here, I'm going to say 25 And you can make this infinity. It doesn't matter. I mean make it a thousand Why is this it's saying I've copies limits reached and I just Exed out of one So that's not cool Yeah, I mean, I think it's there's just a max of five all together Right, but I just closed out of one is what I'm saying right so you can see I only have One two three four I see I just closed this though Oh, you know why I closed it and it brought it into here. I got to close it again I got unsubscribe. All right my bad And usually it's it's not the technology usually it's me It's usually me as well. So anyway, all right. All right, so let's try this again Nothing's going on by the way. That's why we're not on these other markets So we'll add Oh, so it's nice to subscribe button is available Now they should have populated and you're gonna see Where this market's going very likely Hey, look at that. Which way you guys think we're going? So this is what I saw this morning. I'm like, yeah, I want to find a way to get along this market And then when you get when you actually make your copy make sure you come in here And uncheck these and you won't get those We've learned the hard way you guys saw in a prior webinar So that This is incredible information guys. These are the big players. Do you see any down here? No This like I said, if you're a newbie and you bring up to this chart, you're like, oh man I want to be a seller. Look at all these offers up here. Yeah, I wouldn't know. No Trust me. They want to push that they're gonna get the market to these orders eventually. It may not happen today But you know, when you get your other things lining up It could happen today. All I know is I you know If everything else is in line and I'm getting bullish volume events like I am I am more than happy to be trading this way Right. Yesterday is a good example too See if I can find it Uh It's back in the stuff over that here a little bit. I'm gonna show you actually these here Show you that post it room My trade room which is on this court as well So this is what I posted yesterday afternoon after the Screw you move Up upside move When it looked like it was gonna die once again Let me see if I can play me a second here. It's pretty interesting. Here we go This is exactly what I said on this up move keep an eye on that trader map liquidity below None of which got their fill on the move down the first time. So Granted, yeah, you were looking at this from the from the open. You're like I mean, look at look at the difference here. There was nothing up here And you're like, yeah, and then it didn't fill they moved it up and it still didn't fill and it moved up 30 points So that's why you use this in conjunction with your with your volume setups, right the si indicator Um, that's why you use this in conjunction with the volume setups and that's gonna help you position You know Once you get the volume set up in the direction of the liquidity, then you know, it's go time. So anyway There was a setup up here. It was it was In the early morning That's what I was complaining in my trade room about where I actually didn't take this trade and I shut up but anyway What I did point out was keep an eye on this they didn't get filled and they didn't move it up a little bit But even with this 30 30 point plus move they didn't chase it and they're still there I was actually thinking we can get down to this and then lo and behold Came down and filled all this and we closed right about there and then there was a setup right at the close I was going to go short I never did because it never got an atr below there and never followed my rules But I was playing for that. So this is a perfect example That's probably not the best you can see it and like this is This came down and tagged this liquidity because these guys are the big players They will push it to their orders So that was interesting I just got filled in wheat Pretty sure because that's the only order I was working. It's All right, so I'm long that and I'll put my stop This is all in the spreadsheet, but it's gonna be 110 percent. Actually I forgot to change this Should have actually been long at seven seven seventy three quarter. I stopped out at seven sixty six 25 so what seven six seven sixty six twenty five is just An atr plus 10 percent below the zone because I will I'm forcing this market Do you notice I don't get in right here and then say I don't like risking two points I force this market to push through the volume event Through the volume event. This was a threshold volume event right 177 icebergs So for me to be wrong, I'm forcing this market to push through this which are Trap traders that we're selling got a mouth full of by ice and it ripped away. Guess what? You can just imagine you're a heavy seller here and you hold your breath and now it just came back It's back here right now. What are you doing? You're like, oh, thank god. I thought I was going to lose 10 grand Give me out of this trade and that's what retest failure is right It's not saying that's for sure, but the tendencies are that so my point is I put my stop away from the zone a full atr as well because you have these atr's that play the Kind of like this one. This was it looks like a 2 atr that play the atr game that moved the The market back to the volume event, right? So I'm forcing for me to be wrong on this trade I'm forcing it to push through this zone and More than an atr outside here and then I say uncle I'm wrong and then I move on to my next trade Right and that's all that's that's what I do right so I'm hoping this holds I didn't miss an atr trade there that we're doing in my room as well, but That's what it is. All right, so you can see here. We are through this zone in Mr. Nasdaq That was selling tail selling tail directional conviction. We are now through there so I'm not as afraid to go along here as I was right in the middle of the zone I want to see this clearly so if I get a volume signal I'm gonna go going long and then I'm really going to watch this own this one's very important Right, this was the time buying tail buying tail led to that And then when you rip right through it first test back Selling tail directional conviction selling tail selling tail directional commission really really important zone I think that's where we're headed and that's what this overall market is telling me right now We're just sitting up here 2332 this tick cannot get below zero So once again, I would not be even considering shorts right now Till this starts to turn back over and we can get below zero in the tech If not your best trades are to be look looking for long So I just need a volume set up to go long because that's how I trade. I don't play with these algos I wait for that Why did this stuff? Oh, you know why because I had my volume turned down because of this clock So this is a volume event. This is actually double threshold Luckily, we're still in here so I can straight off of this It said I'm not real going all about going short at this time And I was really hoping we get a pullback before I got a setup because I don't like chasing the market This was 181 So I'm going to incorporate both these because I'm doing position trading is on here for the atr trade We're doing in my room. We're going to the most recent setup, but you can see this is Basically a continuation of the sell ice, right? You had that just 300 plus then you had another 180 I'm going to incorporate all of that And then that is going to tell me The higher high percentage trade of which way we're going to be going Based on how it reacts to this high volume event So there's two sides to every trade there's sell ice in the air. Someone's buying it like crazy And they ran in a mouth about 400 500 sell ice. That's important information So the way we break out of this zone is probably going to be the bigger move, especially to the upside It doesn't mean we can't pull back, but this is a good good example Is if this turns into a bearish setup that something's starting to change right now Looks like we're back off to the races So now once again like this setup, I have to make a decision This was the morning setup where I was waiting for a retest didn't get it missed a 100 plus point move up Right. So now once again, what do I do here? Do I wait for retest failure? atr Which is 21 and a half will put the values in the spreadsheet here in a second So you see the exact entry points and exit points Do I wait for that or do I just hop in the minute it pops an atr out of there? Just outside an atr That's where your Experience and what you look at so on and so forth comes into play. So let's go to some of the things I look at When I lost my connection here Let me just make sure I didn't miss anything in es while my speaker was turned down here It was only 400 So this is the um the cvd again after three years. I learned that you can I hated I hated this thing the way it looked here. It didn't help me So this is how when you when you bring a book map, this is how it looks I'm like, that's just doesn't tell me anything and then Bruce showed me Take this off that I never noticed now. That's helpful, right? This is showing you With the aggressors and so this is getting interesting doesn't mean you just shorted but look at this entire move up somebody There are more sellers than buyers meaning And let me rephrase that there's never more sellers than buyers or has to be an equal amount or the market would just You know backing Both ways, right? Because there's there's no one to take the other side of the trade There's already always equal amount of buyers and sellers just at different prices So this is telling you who the aggressor is so as this market's moving up. They are aggressively hitting bits That's good information. Is this red light green light? Absolutely not, right? It's pay attention and then when you go to so some of the best trades Especially with volume events again, but this is just talking just the cvd would be You know, you see this you go to a high you pull back You go to a higher high and this continued then you get a divergence in the cvd at a higher high Those are incredible trades, especially if you can get to extreme standard deviation of vwap And number one if you get a volume event. So when those things all line up, that's an a plus trade is go time Right. So just keep this in mind as this market's moving up They are somebody's hitting bits, right? Even with these blue bubbles overall, they're hitting beds I mean, this is this is recovering a little bit, but it's still below the zero line So let's see So this is and then looking at nasdaq the same as that thing, right? This is getting very interesting This is where I'm so first and foremost I'm not going along that setup, right? Because if you guys have been on any of my webinars, these are ludwig levels I use these Extensively in my day trading with the volume events. These are the second most powerful thing I've ever seen if you're just trading next to bookman go to ludwig levels.com. She's got a three day trial Just say you saw the book my webinar. She's got special pricing for you guys Um, so anyway, I am not going along that volume setup just happened right here, right to sell ice. Well Whoever I was just saying will should I go along aggressively or Wait for the retest failure. I'm not doing either one of those until this can bust through this lug So what's going on up here, right? So the best trades are when you can find confluence when things online, right? So what do we have here number one red lug? There's actually another lug a baby lug right below there We have multiple lugs like this right here. Well, this one's on basically on top of that So that's because it even was stronger resistance point We have extreme standard deviation of view app We're getting close to the top of this market profile composite and this is like Like three or four or five days, right? So there's a lot of things here where this can pull back and then you see These sellers are hitting bits. So the cvd is moving the other way and that's exactly what you see on this exact thing, right? So this is saying cvd is around around 1100 minus 1100 meaning there were 1100 more hitting of bids than taking of offers and you can see that's pretty much the same And I like this because this is a different data feed So I this is good to have, you know, multiple data feeds just to make sure everything's on the up and up And what you're seeing is correct. So two different data feeds is showing basically the same cvd, right? So So I have to make a decision now and this is what trading is many times. It's not usually it's not always slappy in the face This is way which way we're going a lot of the stuff here is telling me this is bearish, right? This is telling me I should not take shorts Like we've been talking about so I have to make a decision. So the the trump card here is This is the most important thing to me Right, this is the most important thing in markets the real-time volume of that Well, if this is a bearish event, well, this is telling you Something's up that this is not going any higher right now, right? So For the sake of this webinar And I want these things to go to zero As long as this doesn't push more than an atr above this zone, which disqualifies a short for me if it does Right, then they don't know why I get new lugs and then we'll reassess everything that this area can hold I'm definitely not being aggressive with the add where it's at and everything else, but If this is able to push an atr below here retest failure, I will go short. So now we put the Values in there. So the top of this zone just make sure this is right So many times you're going to have to spread this out to get your the other thing I'm doing now So I used to this right where I would just draw zones off of the bubble as well. That's actually not correct You want to you want to get this price line in here right click it Right click a bubble configure this with components go to last price It'll draw this white line that I take my bubbles off and that helps me draw the zones 100 accurate, right? So let's find that spike Let's get this off here because it's confusing So you can see this spike here the first spike Started here. That actually looks right like right now I got to go down see the spike started here. So you want to incorporate all the prices in the spike So just use your cross here come over here. This is where this started actually right There so I have to actually bring this down potentially. I might have to adjust it But you got hockey so you get it set up here. I already have to go to the edit feature to move your zone You go to here in the net it So that's that and you can see this black line that is this iceberg that started to come in So that is the correct top of that zone and then You just trace price all the way while the spike keeps coming in You can see this black line coming in. This is one house. See this black line. That's one house right interesting information Then came in again. So I I didn't draw this zone separately even though you could I made these because this is one house as well. So somebody came in here and sold 500 contracts 500 Close to 500 contracts right 313 181 Right. So let's actually I like to make my cell ice black just so I know Which is which All right, so that zone looks accurate. Let's just make sure the bottom of that's correct I get off the edit to move it So you could see that I need to move this down a little bit to spread your chart out Make sure your prices are correct that mode Pull it down. There we go. Bottom of the zone is 10 997 75 Go to the spreadsheet again. This is prior to my trade room. Please don't email me asking for it. Come to my trade room It's yours What we're doing two different types of trades in my trade room a reversion trade and the position trading on the Webinars I'm doing the position trading But you have to enter your zones and up here. So that zone again was 10 9 9 Quarter 10 15 quarter I'm sorry 11 15 quarter an element is your atr. I'm using a 14 period See right there atr 14 while there's this default on thinkorswim. It's 20.40 which is actually pretty low for how Crazy this thing feels like it's been today All right That's what it is. So that means the average range in five minutes is 20 points That's why when I just crack up when I get these emails I get them all the time Well, when I trade, um, I love the way you trade, but I I don't want to risk, you know 50 points when I put it in as a trader and I like to risk 15 points. Well Great risk 15 points. The market doesn't care what you want to make or lose, right? Like it the market cares about the current volatility, which is 20 So if you have your your stops less than 20 points, you're asking for a weapon You're asking for a width saw out of your trade So at least get your and then the next question is well 20 points from what from what point? Well, that's what this tells you I use 20 points away from these tops and bottoms of these zones, right? It's just not a random 20 points for me, right? You don't just say well I'm gonna risk 20 points from there. You could but I'm using it 20 points away from the volume event, which is the most important thing, right? All right, so now See this this just keeps going higher so they keep selling it It's not going lower So first of all For me to go short. I would need to see we go down here in the position strategy So I would be short of 75 25, but I need to see an ATR So this is 110 percent of an ATR if I'm in an ATR that 20.40 would just look that the ATR is actually 9.77 so for a short here Potential short here, which I'm still scared to do but I'll do it. This goes down to 9 7 75 and retest fails I go short at 75 which is 110 percent of an ATR. All this is already built into the spreadsheet That would be 75 25. I can put on 2.56 or three or 25 minis micros So that's where I would short but I a lot has to happen here for me to go short And then if the market is able to push An ATR outside of the zone, which would this price is right here right here 1103 575 And it came close, but it didn't get there yet Then my short idea is completely disqualified right because from watching so many of these I've learned If this market has the strength to push At least an ATR away from the zone then I don't want to be part of a short because that's just telling me it has the strength right It should not get if this is truly bearish setup This should not be able to get a full ATR out of the zone All right, so that's what I used to judge how I'm going to try these volume events, right? Speaking of which, let's get a little Tick strike going so we can get the audio torture I like to call it very important, but like I say every webinar and it's Nothing worse than seeing the trade go against you and then having a listen to it as well It's pretty brutal, but it's really important to know what's going on and actually what we'll do here This is a new is this available yet Bruce? Are you still doing? No, no not yet. We're not gonna cover that I won't cover it, but I'll I can bring you want to bring it up and care if I bring it up Yeah, no, I don't want you to I'm gonna get in trouble. It's gonna be questions Yeah, all right, it's kind of basically like a version of this but just way more enhanced right kind of like everything book map does It's just way more. Oh, yeah, it there's a lot more to it but Scott, I'm getting them so Asking development about the trader map pro like how many Do you want to see how many different or access to 100? Okay. All right All right, uh, I mean I want it for every product that I'm looking at I'm looking at 15 products, but it's definitely more than five, right? I mean I've got just on my big screens alone I've got nine. I've got you know rustle nasdaq E-mini and then in my top screens crude gold natural gas. So that's six then I got seven eight nine 10 11 12 13 14 15 16 Pretty much 16 products. So Maybe 15 I mean 10 10 10 could do I mean I have it on my other the other book map on my other computer I could watch but I mean at least 10 and I again I already had people yesterday asking me why they can only bring up five So I'm sure it's probably gonna be an issue for people that watch multiple markets Which you guys should be doing because you don't want to pigeon yourself pigeon hole yourself into one crappy market if it's not moving around that day but Again, they must have a reason why they're only limiting it. I don't know That's my christmas wish It's at least I will forward this All right, so you can see here On a normal day with this volume set up here I would be taking this this short aggressively out of this song as long as it didn't get an atr above and it still hasn't On a normal day meaning when the add is not plus two thousand three hundred Two thousand two hundred and the tick can actually get below zero right, so I'll still short up here and I have the Security blanket of the red lug and the confluence of everything else we talked about right that we're pretty close to the high here This is the point of control of this But I'm fighting the overall market right now, right? So there's your set up I will take the short but I need to see that so now I just sit and wait And this is about if this pushes an atr out of here than this tragedy has done So this is really interesting like Not only are you getting so you're getting this the cbd moving. Let's just pull this back up Like this is moving down. Well, this should have spiked big time With the cell ice because that's buyers Right buyers are buying in this ice. So not only do you have cell ice? Then you have the aggressors hitting bids as well So a lot of this is showing that they're they're definitely fighting this thing for right now Well, guess what great. Is it moving down? No So, yeah, that's great information and if this starts to break then, you know, okay, they got them But if this moves any higher, you know, this is things probably gonna rip Why just use your common sense pretend you're these you're these sellers pretend you're this cell ice How are you gonna be feeling this thing starts to move 50 75 points away from you? You're going to be puking out and I will I will bet anyone Around the gulf you're gonna see multiple when you come to arizona around the gulf that if this does move I wouldn't even say 50 points. So this starts to move 20 30 points out of the zone You're gonna see stop run down here stop run stop run stop run because it's all these guys puking Right now they're aggressive and now everyone's holding their breath the move out of here Is going to be the big move and right now it's looking like that. So get ready for some stop runs Like I said, if we're in a different area, I would be I would be going long here Probably aggressively because of the 80d and everything else, but we're at the red lug So for me personally, I need to see this move at least an atr out of here And then I need to see some new lugs form kind of like they did here at the open Or before the open like this Then I'm okay to go long, but right now I I'm not messing with this lug. I just I've seen it too many times I can probably find 20 instances just in the last couple days of going through these markets All the markets bounced off the red and the blue lugs. They're just the ridiculous Right, especially with the the vibes that were right here in the s as well Once again confluence Red lug extreme standard deviation Top of a multi day. This is like six seven day market profile composite This cvd is not actually dropping that bad, but So It's saying this is a potential area. It's going to stop, but I don't just don't hop in trades I just don't say this is this is the beauty of the si indicator, right? I'm like I have my thesis of what should probably maybe happen up here But I need to see a volume event and then I need to see that volume event fail Then I'm going short other than that. I'll just watch That's part of being a good trader not trading is part of being a profitable trader when you're not seeing what you want to see You don't just force trades because you're afraid you're going to miss the move You can and you're not going to be successful overall. I could promise you Let's see. We're right here with mr. Trader matt Yeah, scott just to reinforce what um you had talked about like, uh the um That cvd and everyone like oh look, you know cvd is going down, but you know price is going up um You're I think you're you're spot on a lot of times we see really powerful moves Uh, and like you said people just getting really Nihilated on the way up thinking that can't go up And and uh, uh, they can be really really strong moves. Uh, so um, we saw that During your webinar like you are ending the kind of near the end of the webinar And it was it was very similar. Uh, there was tons of buying in an area But it just kept going lower and then it was a really heavy move to the downside Great. I mean again, just just common sense. Yeah, everyone's they're Going on this move up, but this was a little higher. What are these? They're just going to keep selling to infinity No, they're going to be like, oh crap. I'm wrong. I've got to get out And then that's what's going to cause the next move up and your volume events going to tell you when it's time to jump in on that This is just all information that you're taking in right now and you're waiting here Like say every webinar you're like a sniper waiting to blow somebody's head off Right, you're just sitting there waiting waiting waiting like, okay, this should do this I got all this confluence here, but if this doesn't then bye-bye Right, and then this also is right in line with what we talked about at the beginning of the webinar This is now To me a failed breakdown of this structure To fail definitely fail breakdown of this guy. This is multi-day right Boom boom right through that high volume note. And now with this zone was confluent with this high volume note That is bullish. So this is showing me I want to be long too on top of add on top of potentially this volume event So what's going to happen here more than likely it's looking like it What i'm going to get here This this may still be in play once this busts through and builds new lugs Then I would take a retest failure. I need to see new lugs. That's the way I trade Right, but this is looking like puke city is about to happen here So it'll be fun to watch even though i'm always on the I always want the shorts to win because I just do Really annoying when the thing goes up for no reason Like everything's okay with the world so What may happen here too is You know I don't see a ton up here. This is a way up here. So this may fill You get some pukes into it fill these guys and then by the end of the day comes back Something like that. We'll see right you don't just you don't just short looking for that But you know if this fills this liquidity and here we go This fills this liquidity and kind of struggles and start and then you start to see volume setups Well, then you can play for that down to there because this is pretty much the real market As far as I'm concerned, right? We're the big players. So this is the real offer. This is the real bit Yeah, 60 points wide But you just watch this thing you'll be shocked just like yesterday, right? Like I showed you guys that That market map from yesterday Trader map What else is really happening anywhere? crude number is actually at uh, it's in three minutes 10 o'clock central on Thursdays when they're on monday is a holiday which it was so crude number is coming out of here Let's just take a look at this trigger map and see what So this one I wanted to be long I still want to be long like look look at this Anybody guess where we're going? Right, and this is quite a ways away, right? So let's let this number come out if I start getting bullish setups It's go time and I'm playing for that I mean for at least a portion of my you know, I'll get out at my usual areas But I will be looking at that as my goal and I was talking about this yesterday I mean long going into this and it did its usual overnight Move down so all the you know, the big money can get long at better prices one of these Right, this was all overnight. It's just the same game all the time, right? That was overnight trade And then you can see right at the open they started buying this I wonder I wonder if this number is going to be bullish I wonder So this was Last night and then right at the open which is six o'clock my time seven o'clock They started buying the bejesus out of it and went from zero to two thousand, right? And it's kind of just in this area, right? So we know the cvd is bullish Eventually, right? We just know who the aggressor is and then we know all this is up here. I wonder if that aggressor Some of those aggressors are Some of these offers, right? So that's what we're watching for You can see the cvd. This is right at the open Spike been sitting up here here comes the number We see all the liquidity on the trader map above You can see it on the regular as well, but it's just more convoluted on here Right because it's showing you all these orders, but there it is. We're right up there I'd say that's pretty important information to know Then you take a look at your bigger picture Right, this is holding this important zone Right, this was directional conviction and then that gap up This was a gap up as well This Basically done here comes the number here comes the bullish number And then you had a buying tail right here too instant rejection. So This is holding as long as this holds I expect that So let's see right into the liquidity one move Just kidding. So the number is out now. I'm just waiting for a volume event I don't just jump in I mean my my thesis isn't much higher obviously But do I just jump in no this thing can do another juke move Fill this liquidity down here and then go right so I'm waiting for my mind about that All right, these stop runs should be starting here any second in the uh equities So that is now an official atr above there I believe so I can't go short on that setup anyway Which is fine because I was pressing my luck if I did let's make sure this was right on the 19.21 So that atr for me to disqualify my short was 36.50. I'm sorry 34.50 There you are. So the short idea is now done What I what I will do now as long as we can draw some new lugs. I'm going long We need I need new lugs for me personally you can go along right now Here's your atr go long if you want that's what I look at because I've learned the hard way not to mess with the lugs But that is a bullish value than that now See what happens here? So guys, this is what I talk about too. What should happen this should And you know 80 plus percent of time This should Boss and come back. There's so many things here if it doesn't that's just information This thing is going to get killed. How many traders are shorting right here? Right? So you're getting investment in this area with the cvd. Blah. Blah. They're wrong. Bye. Bye 151 contracts And what you're gonna see It's a little higher you're gonna start seeing the stop runs and then you're gonna see the cvd go Right back as the guys puke out Let's see. Let's see if it's able to do that. That was pretty dull crude number. Tell you that So there is liquidity down here, but I use that trader map. I up my So I'm using 25s on here 25 to a thousand, right? So this is just a little you can see that the same liquidity here But it's just not as strong But it looks like these guys want to get a little better fill make everyone think it's going down and then Right there. That's my thesis again I know my odds of that thesis are much better than just staring at a bar chart and being like, well, this was an important zone Yeah, yeah, I mean this definitely when you get it you get your thesis and it's in line with that That's even better. But if I'm just staring at this You know say all that liquidity was down here. Well, I want to be a buyer, but the real-time volume Is telling me we're going lower right in this case it does this would be a good place to go long just staring at this But you also know you have all that liquidity up in this zone That's where I think we're going to be by the end of the day I think right that's my thesis. I need to see a volume event to take the trade. So I wait I don't just throw on trades long Open then I catch the right exact moment where the market starts to move up. Trust me This will tell you when it's time Or the si si sub chart will tell you when it's time to go long That I follow my process put my stop in just like I normally do It's not that I have everything that it looks long and then I So say I get the volume and then I go along and I'm just like letting it go and then I'm risking forever To prove that I'm right. No, I'll the volume event comes in here And it's a long volume event I will go long and I'll risk just like I do any other trading setup Right, because in my mind if I am right, this should never get to an atr below the volume of it anyway Right, so why do I want if it does then I'm out and I'll wait for another one because I might be lower Right, that's why this is so important. You can sit and wait and wait and wait Then you fire then you blow someone's head off Sorry, this is not a kids program Any questions on anything verse? Well, nothing is going on again No, let's see. I've answered most of the questions in here on youtube And let me check over here Yep, let's see You were mentioning open interest and he keeps appearing on the hourly chart Um, that's not open interest. This is CBD came to the volume delta is showing you who the aggressor is Meaning who's hitting bids versus taking offers. That's all it is So there's more hitting a business entire way up and they're they're not doing very well, are they So it's good information, but they're not doing well That's why I'm expecting anticipating pukes if this can start and move with the water Because all these guys that are aggressive are about to take it on the chin Yeah, no, no, he's he's looking at settings. I think on the euro thinkorswim Anyway Oh, yeah, I take that I know That's just it just keeps popping up. I keep taking it off and saving and it just keeps popping up. I don't pay a touch of that I mean, that's not part of my trade. Yeah for bigger picture stuff. You absolutely can look at that I don't you could Look at a million things That's why I try to keep my trading as simple as possible because The simpler you keep your trading the better you're gonna do And I just got stopped out of wheat. So that is not a positive situation All right, so I did miss my reversion trade that we're doing in my room, which sucks But anyway, you know, I played this was an atr. So I'm gonna play this right guys There's gonna be you're gonna be have losing trades. That's just the way it is if you have an edge Do I need to bring up my trading in the zone? I'll do that probably since it's like that But anyway, if you have an edge, that's what I look for. I missed it and I got on there at the same price and took a loss On the next trade, but that's telling me something too, right? So let's look at where we are on the chart. So remember when we looked at this bigger picture I was a little torn. I said bigger picture. Yeah, like big big picture. It looked bullish, but it didn't look great We were below all that So we're back in the zone. I mean if we get another setup, I'll go along again But this is the most recent stuff, right? So this may Just I say it every time imagine you're in here. You're a bigger bigger firm You're a big longer term big trader and you were loaded up in here and now you're this is happening Well, you need to get the hell out of your trade, right? So yeah, it's this versus this This is bigger, but this could come all the way back down to this and still be a Bullish bigger picture, right? Does that mean you just put on along and you hold it till that happens? No My thesis would be that but right now No, this is actually even a failed breakout of this as far as I'm concerned. This is just a kind of Right that looks like a failed breakout and we gapped right through it. So that you know Short-term this was looking bearish, but I was okay with that trade and I'm okay If I did another setup, I'll take it again. If the setup is bullish That one didn't work and you're gonna get that But you take enough of them 151 Do we resort to trading cattle? I'll be my trading in his own document so we can do some rants while nothing's happening Scott we can we can also I mean, it's you know between Christmas and New Year's if we could end a little early if it's nothing nothing happening I mean, it doesn't matter to me There you go Another setup A little bit can't end the webinar on a holiday week without some running holiday running That's true So we'll go over this a little bit. All right, so we got another setup in Nasdaq now I can Potentially go short again. I couldn't go short that last setup because it got an ATR above there But now we have a new event. That's why there's a you know, you don't force things There's always there's another event or right around the corner. That's this 440 another 441 Still coming in So this is getting interesting man. I mean it didn't it didn't move that much higher. We'll see But I'm playing this like I do any other setup, right? I'm not gonna be aggressive off this so that happened this is gonna be a little kind of livid here, but That started right about there Scott just going back and forth here with Susa on your VWAP and your offsets, I mean you're just using one and two standard deviations on the VWAP, right? On There's no multiplier or anything like that. It's just a standard deviation Right. So, I mean I only have up to two you can have let's see This is VWAP. So this is one standard deviation aka daily value area. They call that daily value area. Whoops This is one and a half. This is two. So I could have two and a half three three and a half It's just I try to keep my charts as clean as possible There's enough on here where I don't need to see those you can just see by the spacing two All right. So this is one you can see this is the same spacing as that So if this didn't move up here that I know we're at two and a half. I know we're at three I don't need to have lines for each one. But yeah, there's this is just Standard deviations of VWAP and you get these elbows that kick in like this and push it away from there Especially if there's no relative volume coming through the markets All right, meaning so this is the relative volume chart I use for the Sierra I don't know why all trading platforms don't have this like take your swims based on the last 60 periods I want to know this is based on the last 30 days this exact time period. That's how I want to read it Right. So then I know when this starts spiking like hey, something different is going on at this time of day Pay attention, right? So that's what this these charts are But when you get to extreme standard deviations and you know and say like this isn't even getting 100% for any yes These elbows mean reversion elbows kick in and that's what you're fighting if you're trying to go long so on and so forth. So When we get weak, that was very upsetting We'll wait for another setup there and we'll get my revenge So now you got basically this whole area One This is probably the same house, I would guess but it doesn't matter right the point is you had this slice over here And now you have even more here CBD is going lower as well This could get interesting. That's not ready to shorty yet. What I will do I'm but I'm fighting this guy. Let's see if this is turning over. I'm hoping it is Not really. Hey, we got below the zero And the tech that's really exciting didn't get below zero and nasdaq. So that's still the overall So yeah, I get questions here and you know, if you're trading, you don't know this stuff You better learn this stuff, right? It's like, what's tick? What's add? This is all basic stuff. This is just showing your advanced declines for the whole stock universe, right? There's 5,000 plus stocks in that NYSE, right? And then there's specific stocks that are in the E-mini S&P All you got to do is go look at Google the waiting This quickly. I know this is elementary for a lot of you, but you'd be surprised So I know that's going to keep baits And then this is going to show you what S&P 500 companies buy weight That's exactly what these are. This is change. I probably got to change some of these, but you can see Apple is 6% of the market microstoff is five and a half Amazon's 2.2. I have all these stocks here. This is what is comprised as the E-mini S&P, right? So there's 500 stocks in the S&P. That's why it's called the S&P 500 So my point is this Is showing you the entire universe of stocks, right? So it's not I mean obviously the S&P stocks are in this But there's another 4,000 Whatever it is the exact amount of I gotta do is google it But this is this is 80d. It's just showing you out of the universe of stocks. Say it's 5,000 2100 are up on the day versus yesterday. That's That's trend up type of day. So you want to pay attention to this This is just showing how many stocks are upticking versus down ticking meaning You know guys taking offers versus hitting bits. That's all this is showing You will start to learn the tendencies in this Most likely scenarios when this thing can't get below zero you probably This is what you want to start to factor in when you're building your playbooks So on and so forth where you like this like I don't I try not to take shorts the best I can unless it's just mouth watering Like this one may be But majority of the time I won't take shorts if this is over 2100 or you can say I don't take shorts if I can't see this tick getting below the zero line Let alone you want to see like minus better than minus 500 For this thing to have a real chance to sell off for a bigger move, right? So you can just say hey days that I can't see this thing crack, you know 500 and it's basically staying above Zero the entire time. I don't You just eliminate one side of the market that day Guys, it's not everything. It's just not the same every day. These are markets. It's dynamic things change You've got to understand when you want to be taking shorts when you want to be taking longs When you want to be trading bigger shorts bigger longs on and so forth Speaking of which these little piglets. Oh my god, I just lost my top of my bookmark chart. Hold on. Why does this always happen? So it's like I lose that I can't find the chart On top of my other So it's like under the menu bar and I do you think I know Usually you can move the menu bar and I can't move it so I can't pull this chart out of the way It's the issues cut with this test bar move So I'm on my this monitor I pull this bookmark chart up and I can't grab the top of it to move it because it's under the menu bar of my other Monitor Usually I can take the menu bar and just pull it out of the way. Oh, is it because it's maximized. Is that why? No, what's maximize the chart Within that monitor. I just pulled it up and it's like part of this chart is on my other monitor But I can't see it below the menu bar So you should have they should have a thing on here where it's always on top type of feature It's really annoying And then now this new microsoft I did the new version. I don't know how to Anybody know how to do this. Let me know For the menu bar, right? So this bar or like this right here, right? Usually the old version you can move right right right click on the menu bar Right, but they just kiss me this and that's what brings me to this Uh The old version you could just literally get yank it out of the way Of course everything's got to change at all times So I don't even know what uh anybody someone out there has to know come on It can't be the only illiterate tech guy out of here Anyway, I can't grab the top of this book map. Let's see Oh, uh, yeah, you could try the alt um Out alt tab so alt plus the tab Um keys That just minimized And move actually what I can do what I'll do is I'll close it. It's on another monitor I close it then it'll go into this It's just of course It takes as much to move damn chart Stephen is saying Stephen is saying you can also use their hit use the window key hit it twice On the keyboard. Well, I got it, but I'll keep that in mind for next time. So all I did was close it out I I did hit alt space key That gave me the option to close the chart and when you close the chart It just brings it in in the main and then I brought it back out. So I'm sorry about that guys. Sorry Illiterate, but what I was trying to show you here was These guys still didn't get any fills, but I mean Anyone but want to bet around the golf that we hit I'll bet you Let's see. We're at 70 80. I bet you we get up to 80 before we get it down to 76 So that's basically the same amount anyone want to bet around the golf I do not hear anyone saying they want to bet because whoever used to bet me That was me about three. I forgot what his name is wrong every time because at every time it goes into liquidity All right. All right, so we're just waiting for something to happen here DVD is still negative Getting there it's still hitting it That's a lie. So you got two batches of cell ice here. We're at the red lug It'd be nice if this thing that start to turn over like it does every day like it did yesterday Like that we've seen this so many times lately where it'll be it'll just give it all back So that's when I'm hoping happens today This one did it this one did a little bit these are all different days obviously This one did it It's a tall task it's a lot to ask for but you never know Just keep an eye on it. You start to see this thing get back under 2000 And it's and it's start you start to see this hitting negative 500 800,000 Then it's then you're cleared it short So right now I should just put these values in 3175 It's the top of the zone. It was this most recent iceberg. That's this almost 500 is 1450 or is In p.35 If I want to short I'd be shorting at 93 quarter, but I need to see at our retest first So the atr exact atr away from the bottom of that zone is 10 9 9 5 quarter So meaning I need to see to short this because of everything So if this was just a normal day with the add and the tip not so ridiculously extreme The minute this got an atr out of here 110 percent of an atri would short it But I need to see I shouldn't be shorting this now But because that's usually my rules But there's enough going for this and I'm willing to short this especially in a bearish market overall Right. So if we get 10 9 9 5 7 5 or quarter, whatever I just said And retest failure Then I will short this market That means I begin in 93 quarter. I risk up to 53 that's 60 points of risk Doesn't matter if it's 160 points of risk. You just adjust your size. So this based on my account size Actually this 2.51 around up to 3 this is crucial. If you are now following risk rules, you're going to blow out your account eventually trust me Believe it. It's gonna happen. You may get lucky for a while You may get lucky for a couple years and then it's gonna bite you and then you're gonna blow out your account And you're gonna say I wish I listened to scott and had some risk rules I was gonna show you guys something else there too. Oh, I just want to see like we're not, you know I'll go along that same setup, but I need to see the new lugs form and they just have not formed yet In either market This this things this is how they work. This is why I don't go long into all right, but Once again, if this market is able to move Outside of the song at least in atr We get new lugs and if we retest fail I will go along because I know These guys are all screwed and then all these sellers are screwed and then you're gonna get a rip But now I just wait I wait didn't see which way that I'm letting the market reaction to this volume event Tell me which way I should trade It's simple It's not easy trading is not easy, but you can make it simple And the simple you can make it with you know exact playbooks and scenarios that you need to see It's just your mind's gonna free up and then you're gonna become a good trader Right the more crap you throw on your charts with all this conflicting information the worse you're gonna do It's like I it seems like I have a lot of information and this is nothing right This is just like basic stuff. I could see I could imagine some of your guys charts right 5,000 Moving averages and MACDs and RSI's and everything else like it's just you don't need all that Keep it simple base it on volume because that is what drives markets. I don't care what indicator you're using It's not gonna work unless you have the volume working with it The volume events working with it the buying the selling so on and so forth Don't know questions. I mean, I don't there's not really nothing happening. It's not me no answer We can go over trading in the zone again gives going some rants It's up to you. There's got about five minutes to your guy starts six minutes Other guy we can close out the year with a nice little rant somehow Your wish is my command So this is a document we use in the room. This is directly from trading in the zone get the book audio book Regular book. This is rated. I mean I put my stuff in here, but What he talks about this is towards the end of the book right creating a belief in your consistency And this is why you're a consistent winner And then when you can do all these you will be a consistent winner and a profitable trader So just as you read these It's to match what I've been showing you visualize what I've been showing you today This I have all of these in place Right. I objectively identify my edges. This is objectively identifying this Volume event. I'm not saying. Hey, it's sell ice. I want to go short right now. I don't know. Yeah The odds are this will probably hold because paper usually gets the way but I'm not This I'm objective here I need I have rules on how this should react to decide which way I want to trade it Right. I don't just jump in the minute. I see sell ice to say oh, there's some I want to sell You could I don't because I've learned the hard way You just don't jump in the way of the ice because they are wrong many times Just because this house says that we're going lower What if someone bigger comes in and pushes it right out of here, right? That's why I wait I don't just jump in. This is not god. God's not sign here and I'll be all Just someone bigger can come in and push it right back through and and have 10,000 by ice See what I'm saying? So you need to you know, this is an objective way of drawing these areas and then I have an objective way ATR retest or you know, it has to get to at least an ATR of how I trade them That's objective. That's not imposing my will on the market Or what I think should happen I pre-define risk of every trade and I have it here just outside an ATR for both entries and stops That's 10 percent of an ATR 110 percent gone over that I completely accept the risk or I'm willing to let go of the trade. We saw that and we I had a volume event I had my What's the heat map? I had my what I look for to qualify it as a long the ATR retest failure and Actually it was here and I took the long That one did not work. I have my rules put it on out of the next Edge I completely accept the risk and won't let go of the trade so I risk 110 percent below the ATR below there And I already had that on the spreadsheet what I was willing to risk amount wise And trading the correct size to risk one and a half to two to two percent of your of my account size, right? That's what that is All right, so I traded a little more They're putting on tonight. I should only put a nine. I don't know why this changed but Oh, you know why because I had the wrong ATR in there So I should I traded this why that loss was a little more But this is telling me how much I should be putting on for how much I want to risk It doesn't matter what I'm risking in points. I'm adjusting it based on my account size Important part right there as far as I'm concerned before you do anything as far as analyzing the market I act on my edges without reservation or hesitation, right? I Usually really good with this. There are some areas like today like I have kind of hesitation of going short I'll still do it, but it doesn't feel good based on what I'm talking about and some days You're just going to have where things are just confusing and this leaves me to my other rant that I'm always telling you guys for you Are you guys are out there with your ridiculous My my profit and I don't care what this is I'm using five thousand dollars because this was my training firm for some reason This was the magic number when I get up five thousand dollars. I'm done for the day Why what guys you realize you should know if you trade it for any length of time How hard trading can be how some days just does they just don't make sense and that's just Marcus dynamics, right? So when you are seeing things clearly and you are making money do not get up off of out of your chair No, again, I says this we've gone with this Bruce has heard this ramp at 80 times, but I'm okay with saying hey if I hit my profit goal and I get back a percentage You know say you come up with your percentage. I don't care what it is But give something back before you get in before you quit. So 10 percent 20 percent I'd say 20 percent is a good rule of thumb So you say if I'm left five thousand if I give back a thousand bucks, then I'm done for the day I'm fine with that. I'm not saying you sit here and you give back your entire profit But guys and girls if you are making money do not get your ass out of the chair Because there's going to be when you get your ass out of the chair is when you are getting smoked You hit your loss limit for the day things aren't making sense You just say you know what this just does not make sense today and you're going to get those a lot Right. So when you're doing well, I'm begging you not to get up out of your chair Okay, have a pull back amount Keep trading because if you can make five you can make 10 if you can make 10 you can make 20 Guys and my trading firm. This is one of the things that motivated me when I first started trading I didn't know what I was doing. I mean, I worked with the board of trade I was an arm clerk, but I didn't know anything about actual trading But I saw these clowns Make five grand and then shut their computer off and go play ping-pong and video games in the game room the rest of the day It's like, what are you doing? Like It just made no it's still to this day doesn't make sense to me when people say hit my profit goal done for the day All right, so that's that rant we'll get through these quickly and then I'm hop off because just Is your other guy here or is he out for the holiday? No, no he Everyone's here this week. So it's uh, yeah, we got a full full stream Okay, uh, and then So I act on my edges without reservation hesitation. I pay myself as the market makes money available to me So as the market moves up. So for instance like this So when this crude event finally fires off because it will Right, I know I I know there's a very very very very good chance for getting up here, right? So I get in my event I get long Well, this is my ultimate objective But it doesn't mean as we get up there because it doesn't mean it's going to get up there today It could do that and wait a day and then whatever So as I will keep a portion on try to get to this but as the market makes Available like when we get to certain areas, right? So if I'm looking these are the areas that makes that I take take profit on makes sense to me, right? So my you know, if I get long What do I start looking at? Well? I'll look at The tops and bottoms Of market profile composites. So if we do start say we got to set up right here We rip up to the top of this. I would get out of say I have four or five on I'll get out of one or two there if it's trouble So that blows right through there and that's where you use your bookman bubbles, right? If you see blue bubble blue bubble blue bubble or green is the default That's the buying you don't need to get out or you don't want to be selling no one else is selling But I will watch that area. What are some other areas? I will look at baby lug, especially if it's confluent This one is pretty confluent This is baby lug extreme standard deviation with the top of market profile I probably get out of more than that. I probably get out of half, right? Then I'm looking at red lug. I will watch red lug I usually I'll get out of all of them, but I know all that liquid is up there So I'll probably get out of most whatever I have left I'll keep at least one on and try to get to the liquidity, right? So doesn't mean I'm putting something on and just it's this You know this or bust I will get out in important areas as we move move to my ultimate goal Which would be up to that liquidity, right? So you just go ahead and watch Now that the number is out the information in the market and you go ahead and watch this market by the end of the day I had a very strong conviction high percentage we're going up there Especially if these things keep rallying because crude will join um, and then quickly I don't have time to go into ransom all these I continue to monitor my susceptibility for making errors This is I make tons of errors all the time and I do them publicly because I I'm in my trade room Which is not fun, but it makes me a better trader tired irritable overconfident soft part trading days This is really important. So why you want to watch multiple markets? We should be getting a puke here any minute now and q by the way And then I understand the absolute necessity of these principles of consistent success and therefore I never violate them Right, so you need to tattoo this on your Forehead first and foremost this way to tell my trading room and then I'm not going to get in all this We'll do this in this webinar if it's dead like it has been but this is number one directly out of trading in this Own read it Very important understanding What you need to do to be profitable All right, so before I hop off all I'm looking for now. This is almost let's just get the exact price for this ATR move out of here and then I'm going to go along We just I just need to see you're done it like this is We're probably gonna be getting lugs here Moment here new lugs momentarily Should be getting some pukes but that price For that for my lung there would be ATRs back up to 20 so make That's not the right market Oh five Rises to go along Needs a touch at least 51 75 And then I need to see I'm Again because there's lugs here and I'm hoping we get new lugs if we don't get new lugs I'm not taking this along but if this moves up higher we're gonna get new lugs Then I'm gonna retest then it'll fail that I'm going long You could go along right now what where I want to get some atr out of here just outside the atr But I'm gonna wait because number one lugs, but that's how I'm gonna trade that so I want to see the 51 75 price Then I want to see the retest of that zone then when it moves out of here. This is where I'll go long This is my stop This is how much I'm risking And I could put on 2.45 I'll round up to three But that's how I will try that there's not been one setup in es today We're getting close to this liquidity up here once that fills and things may change because I don't really see much above But keep an eye on that if you have trader map, that's part of global plus now, right bruce The the trader map pro, um, like I wanted to mention it earlier on in the beginning of the webinar You know matching matching that up with your higher time frame levels I mean you you really got something powerful there, uh, you know, maybe it's also along with your lugs or maybe it's with your uh, you know, uh The options, uh Stuff, you know from brent, uh, yeah, spark amma, uh, you know, whatever. I mean like that's where you really got something But the trader map pro is right now Well, basically it is included because it's mbo data only it only works with mbo It is now a part of the mbo bundle Uh So the stops and icebergs bundle. So it's only it only works with rhythmic data for cme group futures Uh, therefore it makes good sense that it's there However, for now, it's also available with global plus for free so people can try it out and see if they like it Okay global. Yeah, because I noticed, uh, what's the name said the name said it was part of global plus and then Yeah, yeah, but it but we just we just you can see what we're doing I mean like we're adding value to like either global plus or global or um, some of the uh Add-ons like uh, so in this case we're adding value to the stops and icebergs add-on So you you're getting more but it's the same price the stops and icebergs is still the same price But you're getting more value right And then again guys everything that I talk about out here just go to my website These are all all these banners book map the a bag all this stuff is discounts for what I use right except for Spot game is not a discount But if you use the hero we even look at the hero today, let's just take one click look Um, but you can discount all that stuff for the hero you get an extra week for the trial Let's just see what this looks like This is another thing you want to pay attention to especially the short term options complex And let's just look at mine SPS was not working yesterday. It's still not working. I'm working. I don't understand what the deal was here spy So the white is the price line the blue is the options complex. I'm not seeing much there cues Not much there and spies and oh there we go So not really where you really want to watch is like if this thing starts to go that way Then you're ready for the market to really on top of everything else, right? This is just another factor But these guys play games with the options dealers these big money they run them over and then they have to cover they have to edge And then you get these extended moves. So this is another thing cover today um But yeah, all that stuff's on my website and then uh, you know, I'm gonna I'm gonna come out with A subscription to these zones. It'll be pretty cheap It'll be probably be like 29 bucks a month or something where you can just literally have access to I'm gonna have all 16 products And you can just bring in these zones Uh, so not an email when that's ready. I probably that's probably be done pretty quick because I'm working on all my other stuff The new course and everything, but this is pretty straightforward. So um If you want an email and that's ready just go to my website There's like a form you can fill out put your email in and then when that's ready. I'll set it up to you Other than that have a happy new year It's not going to be happy new year for the shorts here pretty soon And I will see you guys uh next thursday Excellent. Thanks scott. Happy new year. Uh, we'll see you uh in 2003 2003 without me. Greg. I mean, I'm sorry 2000 2023. I wish I could go in the time machine. That would be really cool All right guys, I'll see you later. Thanks. All right. Bye. Bye