 Morning traders. Welcome to the traders lab. I'm your host Tom B. Can I please get a check in YouTube and the bookmap discard trader lab chat? Also, I put a link up in the trader lab. Is that link working for YouTube? Okay, is the YouTube link in the bookmap discard trader lab working? Can you check it right above Ariel's poster or Ariel? Somebody check that link. Okay, so YouTube link is working. Is that correct? Okay, great. Thank you. Well, good morning everyone. Thanks for visiting the trader lab. I'm your host Tom B. I stream live Monday through Friday, 1130 to one piece in standard time. And this stream is about integrating bookmap order flow tools with auction market theory using volume profile in the intraday developing timeframe. This is based on structured trades that are available to all of you in the bookmap discard trader lab to download at no cost as well as the library of webinars. So you can see this process and action over many different market configurations as well as up to four and a half hours of real time narration. Everybody wants real time. I understand that. How does the market develop and how do these structure trades actually work? Well, you can download those. You can reverse engineer them. You can also see how they work in real time narration. All that's available at no cost in the bookmap discard trader lab chat. And if you're in YouTube, there's a link in the bottom of YouTube. So you can visit the trader lab. And also the trader lab is a community of like minded traders have come together to build out the business of trading. We, most of us, if we are retail traders, and I've been both a professional and retail and fund manager and the rest of it. But no matter how you approach this business, many of us come into it, especially retail traders who haven't been exposed to trading, get a toolbox or subscribe to something. They think now it's a matter of indicators and time frames. They read and go out on the internet. There's all this information and it's really information overload. And how do you separate what is really usable from nonsense? Anybody can put anything out there, right? And no matter where you get your information, whether it's here or anywhere else, how do you determine what is usable and what should be discarded? And the answer I think is simple, not complicated. We think complexity is where the answer lies. So we make it more complex to try to find the needle in the haystack. Well, here's something that's important to consider. All the ideas that are out there that are in the public space have been gone through by every other trader that has walked in your shoes before you. So why do they have such a high failure rate? I hope you'll ask yourself this. In fact, grab a pen and a piece of paper because not only do I encourage you to take some notes so you can ponder these things over the weekend, but I'm going to give you some statistics because why would we think of statistics? How about this is not a prediction business of finding the secret sauce. It is really a simple business that is random. The problem we have as humans is looking for certainty and the need to feed our emotional needs. In other words, avoid risk, pain, get approval, all the things that work in the outside world, you know? But in this world, the trading world, we're actually, it's like you might as well be on Mars because you're not in the environment that you are familiar with. You are in a foreign environment, yet we're all trying to make it fit our emotional needs, not the business of trading. So what is the business of trading? What would I found? And unfortunately, it took me years to figure this out. Unlike you guys, when I started, there was no internet. There weren't even computers. So, you know, indicators, if you will, were just kind of becoming available. So we thought indicators back then was the secret sauce and it made so much sense. The little thing would cross over this or that or the stochastic or the MACD or whatever it was, CCIs and all this kind of great stuff. Oh, draw a trend line, have a measured move. Oh, Fibonacci is great and so is Elliott Wave. Let's put all that together. Market profile, oh, it's getting better and better and it's getting more conflicted and more crazy, right? So we spend our time putting all these pieces together. It's like a puzzle, but maybe it's not such a puzzle. Maybe we make it a puzzle. So what might the answer be? How about this gaming? What is gaming statistics? Who does gaming really well? Las Vegas? What are they doing? Are they in our environment or we in their environment? How about we are operating in a marketplace whose function is to figure out what something is worth? The participants we interact with are all have different agendas and different timeframes, hedge funds, HFTs, algos. Who knows? Market makers. Should I go on and on and on and other traders like us and many more? So if we're all in this sea of participation, how do we differentiate what we do from everyone else and others who have different agendas? How about probabilities and statistics? So if Las Vegas only plays games that have an edge and they are in a random environment like we are because they don't control what comes out of the deck and they don't control how the gamblers play the cards, they are also in a random environment. That is our business model. Randomness and our psychological need is for certainty. It does not exist in my opinion and experience. What does exist is an edge. If you can define an edge just like the casinos do and only play games that favor the casino or the house or in this case you over time if you can execute that edge you will extract dollars from the gamblers just like Las Vegas does. Now of course, past performance is not necessarily indicative of future results. Do you want to know what the big obstacle is? Who? Parts. One, you got to do the work to find out where your edge is. This is what we do in trader lab. The other obstacle is aligning that edge with your ability to execute it. And the other part of that is executing it and overcoming the emotional challenges. You know, think about it this way. On the tundra back in the day, if you saw the saber tooth tiger you ran the other way. If the house goes on fire you run out of the house, right? We have to run into the fire. We have to stand in front of the saber tooth tiger. We're not wired for this. So we have to find ways to overcome those natural instincts, survival instincts that have done so well for us as a species, but don't work in this environment. This is what the trader lab is built on. And I invite you all to come and visit the trader lab. And if you're in YouTube, there's a link there. And this is about the business of trading, integrating book map order flow tools with auction market theory, how the market works, why it does what it does and how you might get in alignment with it. This is what the trader lab is all about. General disclosure, all book map limited materials information presentations and are for educational purposes only. I've been up since four a.m. You'd be surprised what happens and should not be considered specific investment advice or recommendations. By the way, grab a pen and a piece of paper. You might want to grab a couple of notes. Risk disclosure, trading futures, equities and digital currencies involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. And please remember, this is not a trade calling room. This is for educational purposes only. What I'm going to do here is I'm going to give you a couple of statistics, write these down and I mean it. How do you like that? Imagine being in school. Now, I mean it. Actually, this is a trader education, right? And it's important. Why are our statistics important? We are in a random environment. How do you know which way to head the ship? Well, statistics can help. And the thing about a statistic, it's like anything else. It's maybe. Write this down. We are number one, we're in a random environment. We have no control over the other participants, just like the casinos. Number two, probabilities are only that. Maybe. But a probability gives us something to work with if we are in alignment with the participant behavior. Otherwise, you're completely in the dark. So for me, I prefer even a little flashlight, shed a little light on the issue. So maybe if I see the behavior, I can now potentially target something and you'll see how this works. So write these down. There's only a couple statistics. We opened lower inside of yesterday's range. Can we agree on that? TraderLab is that correct? Okay, great. Let me give you some statistics, guys. Write these down. And if you're in YouTube, write these down. You'll see why. You'll see why TraderLab is different. We are not in the prediction business. We are in the gaming business. There is a, and you have to vet these for yourself. Okay. So any statistics you hear or anything you hear from anybody anywhere here or anywhere else, you got to see if it works for you. And if those, whatever you hear is valid because there's a lot of debris out there, if you will, in the internet space. There is a 97% probability the first hour's high or low will get taken out during the RTH. There's a 93% probability either the ETH high or low, that's overnight high or low, will get taken out during the RTH. There's an 85% probability either the previous high or low will get taken out during the RTH. Now, I'm going to get a little more specific. The ETH volume point of control, and I'll show you what that is when I show you book map. There's an 83% probability we will come back and check it based on where we open. The overnight mid has an 83% probability. The previous point of control, and I'll explain that to you, has a 70% probability. The first hour high, now remember I said the first hour high has a 97 or low has a 97% probability, but the first hour high in this condition has a 69% probability. The ETH low has a 66% probability ish, and it goes down from there, previous low 53%, etc. Now, I hope you wrote those down. Now we're going to look at how that might fit together, and there's more. This almost sounds like a commercial and there's more, but there's more. So let's go see what's more. This, I posted this around 4 a.m., 4 30 this morning, and I'll tell you, I'm up at 4 a.m. because I'm enthusiastic. After yesterday, I was looking for opportunity, and I'm going to show you a trade that is a structured trade in the trader lab, and I'll show it to you in a moment off the ETH high, and you may find this interesting, but let's look at this. This is called the volume profile, and I know if you look at all this stuff, you're going to go, oh my goodness, where's just giving them my little indicator that crosses over. I don't want to do this. That's how when I first saw market profile in the mid 80s, I went, oh God, what is this? Leave me alone. It really was a foreign thing, but once I understood what it was, it made a lot of sense to me. The market is an auction between participants just so you understand. What is it trying to figure out? Well, what's too high? What's too low? Right there, and what's a retail price? High volume. When you go shopping, it's all the same. You pay retail? Okay. If the price gets too high, there's less buyers. You may say, I'm not paying that, and you leave. If it goes on sale, and though the price is low relative to retail, let's just say it's there. So I'm not paying that. See how the volume curtail? Retail? Oh, that's a fair price. We'll do volume. We'll do, you know, buyers and sellers, you buy retail in the store. It goes on sale. You throw a couple in the cart, but it doesn't stay on sale. It comes back to retail. This is what a consolidation looks like in volume world. So all the volume profile is doing is measuring price and volume, and it does it in all time frames and fractals. So when I look at this, what I'm doing from January 22nd until yesterday, I'm pulling all the volume in to see what is retail, what's too high, what's too low in these outside edges. Now I'm going to take it one step further. This encompasses all the volume, this one, but I'm interested right now in the last swing. So this is the all time high so far, 5650. And this was the swing low. So I put a profile around here because this is my current edges are swing. So outside, outside. So oh, it's on sale. I'm not paying that. And then in here is where's the volume. So 50, these are levels, 52, 3350 is the highest volume from here, from the high to the low. If I take all the volume, 52, 17, 75 is the retail price. So if you want to look at it like this, all the volume, this is a big consolidation, our balance area, and we're trading inside it. If I move down in time frame to the last swing, I'm trading inside of this. I hope that makes sense. So what it shows me is this is the highest volume, 52, 33 in here. This is yesterday's low, 52, 17 is retail. So where I open relative to these levels with the statistics and based on what I see develop in real time gives me a sense of targeting. Okay. So, and if you remember yesterday in the stream, if you followed it, we had a target down here at 51, 78. It's called the naked volume point of control. And it was created off of this day. Now, I'll show you these in bookmark, but this was a price. Let me explain how this works. The market goes down, it sells out. Oh, it's on sale. The buyers come for it and we close up. Then all these sellers in here, if you remember this, we open, they get squeezed out, gives us our up move, right? This day here, the high volume or retail price for the day was right here at 78. And if it's too low and the market opens and we can't get there or we get near it, it is saying you can't buy us some peace here anymore. So out of luck, you can't get it. The opposite side of this was up here. This is too high. So the market came back and wouldn't pay it. I'm not paying that. And so down we go. So this is kind of how this works in a kind of a sense of understanding market mechanics. That's called the auction. Now, we don't know what it's going to do. That part, you know, still part of the joy, you know, of randomness. And write this down. The market is random. It's random. It's not your job to be right. It's your job. Your job really is not about being right. It's about alignment. So let's go take a look at this. This is 5.30 in the morning. And this, I think I posted this. I can't remember. It seems like it is a long time ago. But I want to show you the high. This is, I'm going to show you this thing. Now, remember 50 to 33.50, let me just make sure we got our alignment is this. This is retail in this time frame. So I know the market has the potential, right, to come back and go, is this too high? If I'm below it, is this too high? Is 52.17 too low? Well, this is the purpose of the market, the check. It's shopping. If you're a shopper, this is what trading is. Shopping and it's edge in a random environment just to make you crazy. So if you're working again on trying to get precision, it doesn't exist in our business. If you're looking to predict in order to fulfill your psychological and emotional needs, it doesn't exist. So let's not keep doing that. Now, if it works for you and you have a way to predict what the market's going to do, I want you to DM me, we'll go to lunch. But in the meantime, this is the retail price in the higher time frame. Now, there is no precision. What happens if the buyers, the participants say, I'm not paying that. Where will they reject it? Are we going to come back and tag it? How about maybe write that down. The best you have here is maybe or might we reject it when we come up here before we even get there. That's part of the randomness. So let's look. Resting liquidity in the book. Now, we're looking at bookman, how it helps us. Let's look. Now, I don't know what's going to happen. I'd love to tell you, I know what's going to happen. I can tell you, I use a term all the time and it's called clueless. I am clueless. And what it is, it doesn't mean ignorant. It means open to whatever I may recognize that is vetted behavior that I understand. So I don't know what's going to happen here. Look, I see a buyer. I see resting liquidity. I have 142 sitting in the order. Well, let me go back here. Hold on. 236 sitting in the book right here at the time. So I see this resting here. It's been hanging out. I'm going, well, this will be interesting. When you have resting liquidity, these are passive sellers. Now, when it comes to liquidity, part of the joy is you don't know or maybe you do. I don't know. Is it real or are they going to pull? Because that, you know, liquidity doesn't have to be real. So what happens if underlying we get here? So this is what I'm looking for. And I don't know. I'm going, oh, that's nice. Here's what happens. Buyer, that's buy delta. What's going, what's this? Stops. Really? Buy stop. Okay. What's on the other side? I spurred. So this interacts here. So let's look. This, by the way, is the NASDAQ called correlation tracker. And all this is doing is I'm seeing at the same time the behavior in the NQ. Okay. So because I'm not, I can't look at 10 charts. I am not blessed with great multitasking skills. This is a lot to think about. So here's what I see. I see this interacts. And I see nothing here now. There's a couple contracts hanging out. There's 138. So a bunch traded here. So I'm looking at the NQ. And I don't know, you know, I'm looking at this. So you know, now I'm giving you detail because I'm trying to give you a thought process. So let's watch. I come back up here. There's more buying. There's another iceberg. What does this mean? And what else do I see? Absorption. This is the absorption detector. So these buyers, now this is minutiae, isn't it? But this is order flow. This is how you might at times gain an edge. Don't we want an edge? Do you think other retail traders even understand this or have a tool like book map? I'm going to suggest, nope. So in our business, remember gaming, what is gaming edge? The more edge you can extract and remember the statistics I gave you earlier at the top of the stream. And by the way, if you missed the top of the stream, you missed a lot. And you can review it. If you save the link in the bottom of YouTube, and even better yet, there's a link in the bottom of you on the bottom of YouTube, come to the book map discord trade lab chat, you can download 60 PDFs of structured trades. You could actually see how this happens and why. And then you can reverse engineer. Plus there's a library of webinars on what is going on here. And then you determine if this might be something that you can shape into something that you can execute and extract an edge. If you know, you have an edge, does that give you the confidence to manage your emotional state? I call the emotional state hide, you know, Jekyll and hide. Hide is the lunatic. And we're all under the influence of the lunatic because we're wired that way. So here's what I see absorption. But I don't see the absorption. I see the iceberg. And I see the stops. I come back up. This comes in the book. I can see it. Absorption. So buyers are getting absorbed by the passive side. Passive means they're just hanging out. Yeah, I'll sell it to you when you get here. No urgency. Now what? Watch. So this is the th high. No, at the time, who knows, you know, I like to go. Yeah, I don't know. But let's watch. So I'm looking at this and this, this is key. This is a structured trade. And this is what it says. Let's talk about language. I don't use any indicators. And you're probably going to wonder, well, how do you do that? Because what is an indicator? It takes price or derivative of price. And in some lagging fashion, computes something and tells you something. It has no awareness of something called context. It doesn't know this is an important level. It just knows what does it tell you to get long here? I mean, what is it telling you to do? I don't know. So since I know, I don't know. I don't know anyway. But here's what I do know. I have buyers here and I have icebergs selling. And these guys are a little smarter than we are. Let's look a little further. I see 200 get added up here. And I see another 50. This is called the liquidity marker. This is the heat map. It's showing me the ads and polls. That 278, there he is. He just shows up. What does that do to the book? It's pressure. You need to understand how these things influence. Now, here's, let's come back to the auction. In the present, at 52.30, this is now the highest volume for the ETH. There are a couple possibilities. One is, this is now the retail price, remember? Now, as an astute shopper, if you go to the store and you see a price that is too high, you're going to leave the store. If the price is too low, we may go this way and check the price that was too high. This is like over under. And it is a structured trade in the bookmap discard trade a lab chat. So, let's look at it. So, here's the thing. Too high, right here. Break, pull back. This is a structured trade in the trader lab. Your risk is the overnight high. So, let's look at it. And I believe I posted this and I can't remember. Now, what's the target you're asking me? Let me show you this. 17 to 30. This is the target. This is basically something. What this is, is this is too high. And where did we come from? This was too low. What is the nature of the market? Is this really too high? Well, then let's see if this is really too low. It was too low. This is too high. Sell it, target. And at this point, you could be flat and it's seven. And we had a report, don't forget, 730, right? And trade is done. Is everybody tracking? This is ETH. This is before you even get your coffee and a donut. Any questions on that short? How are we doing in YouTube? I'm on my third cup of coffee. Normally, I keep it to two. But when you start at four in the morning, you know, are you guys getting something out of this in YouTube? Is this useful? What's the statistics I shared? Now, what was it about the overnight high in this thing? Let me come back. There's only a 49% probability. Past performance, not indicative future results. You got to vet these that I'm going to get back here based on where we open in the ETH. Coming back to this, there is a 83% probability. Past performance, not indicative future results. Let's keep going. Taking out the first hour high, you did write these down. You'll see why a 69% probability we get here, you're going to like this. There's more. Remember, this was our target from yesterday at 78. It was still open. That's our target for shorts today. And we'll go from there. Is there anything else down here? This, but this is our primary target for the shorts. Isn't that interesting? And this, one more. So you'll find this joyful, and then I'll move on. This is yesterday's retail price. This is the ETH retail price. What does that say? Retail, so too high, low probability we'll get here. Yesterday's high. We'll see you later. Variable high volume note. In other words, this level is too high from the ETH. I mark it because we rejected it at the high. So I suspect, and again, we don't know, you know, anything's possible. We're not coming back here today. So let's go a little further. I'm coming back down now. And I'm going to show you how I use bookmark. But what I'm doing is, I'm using the auction, the participant behavior, not an indicator, the behavior to get in alignment. Now, here's the next little piece. What do we know now? Well, we know what's too high. We know what's retail in the ETH, the last auction, which I think was here and it's showing it here. So maybe it was a little lower. And we know this was retail yesterday. This is the fair area, kind of the retail price. That's where the volume is. So how do I trade this now? Well, I want to trade outside in. If I come outside, I want to trade back to this and this and I want to go down for my statistics. So and test yesterday's low and everything else. So let's take a look pretty wild. So right here, let me make sure, okay, RTH open. So this is the overnight volume point of control. It's still a potential target for today. And again, clueless. So let's watch. Why does thing really sold off? Trying to remember. Let me scrunch this up so we can get into the open. Okay. Didn't really, yeah, really sold off pretty nice. By the way, I am not discussing trade management. I'm just showing you structured trades. Subject to a vetted trade plan, you could be holding the short, but I'm just showing you market mechanics and structured trades. In the trader lab, you will determine what aligns with you psychologically. Some traders basically kind of like grab, you know, go to primary target. Others have runners that they manage subject to the context. It's a little more advanced, I would say, but that's trader lab. And here's the other part of trader lab. You're not there to replicate what I do. You could probably do it better. It's not right, or it's not a better thing. It's more of a alignment thing. Some traders are, they just want a piece, you know, and they're very active. I'm less active. I go more for swings because I'm just telling you my personal thing has nothing to do with what you would do. That is, I get in and I want to catch, if I have a target, remember, I'm going for this. So if I get short out here, I'm going for this. So let's look at the first trades. Now, this is confusing, of course. And here's what's confusing about what I'm about to share with you. There's something in trading called context. Context is complex, because is the trend up or down, or what's going on? Well, I know what happened at the ETH high, right? Too high. And I know I'm opening below the ETH volume point of control. I know, where's our VPOC, by the way, just getting a little out of whack here. Hold on a second. I want to make sure I got everything here. Guys, where's VPOC? I kind of lost it from yesterday. Someone give me a price on VPOC. That's probably covered up over here. 92.5, is that right guys? 92.5, naked volume point of control? Yes. Okay, 92.5. Yeah, it's right here. Okay. So this is retail. Okay. So here's the first trade. Now, I'm looking at this and I'm thinking, do I want to get long or short? In fact, we had an interesting conversation this morning in the trader lab. One of our traders says, he has an edge getting long, and I'm going, well, that's cool. Me, I've got an edge getting short. Who is, quote, right? We both are, because it's trade plan and statistically up to your plan. There's no right or wrong in trading. It's the edge and your job, and that's what you do in the trader lab. So in the trader lab, we can have traders getting long and other traders getting short. Isn't that something? So let's look at the first trade. Now, in trader lab, so this is the opening, developing volume point of control right here. What this is, is at RTH open, 8.30 my time, volume reset. So this is like, this is a new day. So the volume starts here. So here's something else we know. By the way, write this down. The market goes up to go down and the market goes down to go up. Market goes up to go down and the market goes down to go up. The market goes up to go down and the market goes down to go up. The market goes up to go down and the market goes down to go up. The market goes up to go down and the market goes down to go up, okay? This is market rotations. And the reason this happens is because there's always traders on both sides. Let's say if the market's gone down, there's buy stops, right? And if the market, and so the market is short coming in, all right? And we sold off. So there's shorts in the market from the ETH and there's shorts in the market from yesterday. What do they do? I'll tell you what I think they do. They take a profit on a Friday, maybe. And if they do, how do we want to use that behavior? Are these longs or are these responsive buyers taking profit? And then we'd look for a short. This is how I look at it. Doesn't mean you can't get long here. This is potentially a trader lab long. It's not for me, but it, you know, might be for somebody else, right? And this is the ETH low. Let's look at this. Just to throw a little more into the mix here. 66% probability past performance, not indicative future results. We check this. What do we do on the open? We check it. So I have a statistic that says we're going to check this. Of course, we're opening right on top of it. It's not a reach, right? Well, then what? That could set up responsive buying because there are traders who use this for targeting or buy it or whatever they do, right? So anyway, I'll find. So now the market comes up. This now is called the variable high volume node. What I do, and it's just something I came up with years ago and I didn't, I always go, you know, I don't know what to call it. You know, so I made up names because what is high volume? Remember in the store, you're a shopper. That's retail is high volume. But since we're in an auction that's happening in real time, it's not like your supermarket where they don't change the auction is pretty fixed. This is happening in real time. So if this price becomes too low, and it's retail, these shoppers right here, and we leave it, then it's too low. So now this is the new retail price. Okay. So if this is the new retail price, and I'm going to label it, it's a variable high volume node. What is the possibility? Let's let's remember what is the possibility? Well, if this is too low, and this moves up, we may continue going higher, right? Isn't that logical? Just like in your store. But what happens if this price becomes too high? Then we'll come back potentially. And if that's too high, this might be too low. And if it's now too high, maybe this is not too low. Maybe this is just these responsive buyers who are responding to the look, you know, they're covering. So if this becomes too high, it's a short in the trader lab. Why would I get short? I just want to remind you, because I have a target here from yesterday that I mentioned in the stream. Is everybody tracking the logic? Why is this down here? Because it was too low the last time we were here. If this is too high right now, and we get under here, then where's what's next? This. And whatever else is down here. And there is more down here. This. But we'll talk about that later. Is everybody tracking why we'd be thinking short? Steve, the yellow light is called the developing volume point of control. A volume profile is really measuring volume. And what's going on in volume is what's too high? What's too low? It's shopping. And that's all this is. And these are consolidation. So what you guys call a consolidation is an auction. That's really what this is. If I get a price that's too high, and the buyers go, I'm not paying it. And you see how the volume dries up less buyers. And if they think this is a sale down here, it's not, you don't get more buyers, which you get is less sellers. So the market rotates back to a high volume price. Now, what is the outcome of this auction? If this volume up here, high volume in the consolidation is too high, and nobody's going to pay it, they all leave the store. And then they come back here. And then here, maybe. And it's always maybe. So let's let's let's look at the trade. So we're looking here. Now the market right here pulls back the VWAP. Now right here, now I'm looking at this, and I'm thinking I want to get short. Where do I get short? This is the hard part. This shifts down right here. It needs to fail to continue down. Instead, I come up, and I see absorption here. So I have a buyer right here, and I see a seller, and I see buy absorption right here. Now what happens here is, these buyers get trapped. So we'll just watch this. VPOC migration. This is now saying too low. So I'm looking for the short. These guys look trapped, but I don't have a short yet. I'm looking for it. This migrates up. It says higher. This migrates up. It says higher. This says higher. So I'm in here, and I'm thinking, well, maybe I should have got long. I'm going to tell you, that's what I think. But I don't have anything to do here, because I want to get short. And you're probably going, why do you want to get short? Well, the trend is down. So let's watch. Volume right here is volume in microstructure. I'm outside, and I'm looking for outside in trading. So I was looking here. And what I like to do is, if I'm going to get short, I want a pullback. So what I do, and it's very hard for me, by the way, to be patient, because when I see this, hide jumps in and says, oh, you're going to miss it. But the discipline thing to do is, if you're going to enter, you enter in here and you put your stop here. So out here, it'd be kind of the same thing. If you were just taking these, you'd be entering on pullbacks, and this migrates up, you got to get out of the trade. It comes out here, you get your break, and your stop's going to go here. Now your volume, I'm going to take this off. Okay, I just want to show you the structure and how Bookmap is going to help us put these pieces together. This is liquidity marker. I like it, but it, you know, good for me when I trade, but when I want to show you structure, it's different. So this is too high. There's my seller. This is my microstructure. It's too high, there and there. You see the seller. I come back and check it. It's too high. There's my seller. This is my resistance, this volume in here, here. This is a short. Now this is my scale, and then I'm going lower. You'll see, watch how this works. Here's your volume. So if you get short here, you're scaling here. Now for me, now what happened here, by the way, guys? You get mid and VWAP buyers, and it doesn't mean they're not going to be right. For me, I have an open target below, and statistically, I know the probabilities of not going down first. It's better for me to be short than it is to be long. That's all I can tell you, based on my plan. It doesn't mean it's going to work, but let's watch this. Where's my target here? What was too low? My targeting is here, variable high volume node, right here. So it's here, here. So this is retail. So short back to retail. Bounce. This is retail in a fractal. See the volume? It's too high. Potential short. Scale here. This is a variable high volume node. It was too low. I've got one over here also that I missed, and I've got this one down here. So I'd be going for this, and that naked volume point of control at 78. Those are my trades. I'm going for this. So if I miss it, and I come back to what I perceive to be resistance, I can add, or if I never got into this, I could sell this. Do you see where it comes? It comes back to what was too high. It's too high. It's a short, and then you're still going for this thing. There's your target. Now we have another one, this. That's the next target. And I narrated this in the trader lab, and that was that. See, then I'm out of the trade. I just go into park, and I don't worry about it. Now let's come back. This is a variable high volume node. Let me adjust it. And I'm going to look up at your questions in a moment. I got to put this in here, right? Because I follow process. I don't use an indicator, so I'm using the shopping. What are the shoppers doing? Let's just watch. Okay, 9.30 is something called the initial balance high. Now that's this. Now here's, remember the statistic, taking out the first hour highs, a 69% probability. Now in the trader lab, there are traders and have structured trades, and this could be a structured trade. I didn't participate in it, so, but I should tell you about it. If this was too low last time we were down here, right here, and I come under it, and I come back above it, this sets up a long, and I didn't take this. Doesn't matter though, this is structured trade back to here. And then statistically, here. Now that's trader lab. Now if it's not your trade, you don't take it. The thing about this is, and remember, this level here was too low, 51.65-ish. Where does that come from? This, for all the volume in here, was at one point too low, and it shifted higher up. This is called trading in fractals. If this was too low, just like those VHVNs I'm showing you, this is just a higher timeframe, the same actual process. Coming back here and here, 62.65, horseshoes and hand grenades to check. So where does that put us? 62 and 72.5, right here. 72. Let me get that back again. Did I lose that thing? I got to get that back. I got to show it to you. Here, 70-ish, 73.5. These are levels. This is an outside edge. So if I'm coming down, I'm watching areas. Now there's no precision in this. It's really important you guys understand. There is no precision in trading, and I know we want precision. It does not exist. So when you come down here, we have absorption. We have the NASDAQ showing us a reversal. So if you're trading trader lab structured trades, you might, if you have a vetted plan, take along from here back to here. And then because of the statistics out here. And why would you come out here? Why would you aim for this? It's the opening swing high. What's above the opening swing high? Buy stops. So this is a viable target. Then whatever happens from there happens. Now I did narrate the next trade in the trader lab, and it's called the IB failure. The IB failure, I'd like to get into real time, but I got to show you this, a trader lab. Trader lab is about helping you guys design trade plans. Nothing more. And if you understand how market works, this is not a trade calling room unless I get into them. And I want to remind you guys, there's 60 PDFs of these structured trades you can download. There's a link in the bottom of YouTube and webinars I've done, streams up to four and a half hours long. You can watch all this in real time. But if you don't understand why, then this is entertainment. And I'm not doing this to entertain you. I'm doing this because retail traders, in my opinion, have the deck stacked against them because there's tons of bad information out there. And I'm also sharing it with you because I've been doing this 44 years. And I will tell you, I've spent more time oscillating between euphoria and depression, thinking I found something that works only to find it really has no edge because I didn't understand this business when I first started in 1980. In fact, when I started in 1980, we didn't have computers. We didn't have an internet. We had nothing. So that's where I started. And my understanding of what I thought the business was was completely different than what it is. So, and most retail traders don't have the time or the resources to keep experiencing trader groundhog day, that is doing different derivatives or process that doesn't work. But because of the random nature of this environment, things that don't work work randomly. That's why gamblers come back to the table. They walk out with cash. That's what keeps them coming back. And that's what keeps us potentially doing processes that have no edge because they work. It just don't work enough. And if that's your experience, that's typical. And that's why retail traders, in my opinion, have such a high failure rate. So this is the first hour high. You remember we had a high probability and the shorts have their buy stops here. So now let's look. We come out. Looks like it's going to the moon, Alice, right? This is an outside edge in a higher time frame. I'm not going to show you the chart anymore because I want to move on. This is a structured trade. Now, before it got here in the trader lab, I'm posting potential IBF. It's called an IB failure. What is it? Mean reversion. If the market comes up, takes out the opening swing high and cannot gain traction and we fulfilled the statistic and it goes nowhere, then what? The longs who have sell stops in this leg after we take the buy stops out, they are now going to go on the hook. And let's go back to the premise of the auction. This is our developing volume point of control. This is our retail price. I'm not paying that. Remember you go to the store? You got to be crazy. You want $2 for a can of tuna? It's a dollar down here. I'm not paying that. Now somebody pays it. Buy stops. Are they by yours? No. They are market orders of traders that are getting taken out. The guys who sold and kept their stop at the opening swing. Why would you do that? I don't know. Not my job. Break. Test. Short in the trader lab. Back to here. Hold. Watch. Structured trade. Target is here. Also, VPOC migration. This will look familiar. This now is retail. Is it too high? Why? Is this too low? If I break here and then I come back down, it's rejecting it. Let's watch. What is this in the trader lab? Potential short. You got a scale here. No range. You don't do it. Can you operate in this? If you're highly skilled and you anticipate, you can participate. So there's another short in the trader lab. Where are we? I don't even know where we are. There we are. That's all I can tell you. Trader lab. This is trader lab. Now we are current. Are you guys getting something from this? Is it iClil? By the way, where are you from iClil? He's in YouTube. He's asking about the stats. You have to vet them for each market. They are different. NQ is similar because they're connected at the belly button. But basically, each market has its own stats. You have to vet and derive those. We do that in the trader lab, but we focus primarily on ES and NQ. Not because, and for developing traders, what I figured out, I've traded across all asset classes. I was a fund manager, so I've traded everything. Back in the day, we didn't have day trading. It was swing trading and position. So it was different. But as a day trader, the statistics are a lot more important, but you have to vet them. So in the trader lab, I focus on ES because my objective is to help traders basically learn how to trade. You might say, I believe anybody can learn how to trade. I know in trader lab, we have traders that basically are developing careers, where previously they were just sort of running in circles because our nature is to keep searching and jumping from thing to thing to thing. And what most traders don't understand is you've got to kind of drop anchor someplace. As long as you perceive it as credible, what most traders don't understand is this is a profession. This is not three months of find something and duplicate it and you have an ATM in the basement. That's naive at best. So what I figured out was, can I teach traders to trade? And in my opinion, yes, because I've done it. And I've been doing it. And traders go on to prop from the trader lab. They become profitable. And other traders do not succeed. What's the difference? The difference is doing the work and becoming psychologically adjusted to the challenges of operating in a random environment. It is the biggest obstacle anyone will face. What I do in trader lab is provide templates of building a business, thinking of it as gaming. So yes, you can do this for any market. But the basis of the trader lab is to teach the auction. All markets operate the same way. Supermarket, gold, crude, doesn't matter. All you need is movement. Crypto doesn't matter what it is. But the reason I stick in the ES is the depth. Because for learning traders, depth, because their execution is not so good, we don't want to also have them skitted on their fills. For example, if you trade NQ, it's a very thin market. So you look here, the depth, 450, 500, I'm sorry, 130, 135, 133. Let's look at the same thing in the NQ. 18, 13. What that means is if your stop is sitting here, they'll catch you next week. I traded the NQ for years. That's not where you want to do your thing. So for traders who are developing, I'm doing everything I can to put them in a place where they have better execution, less skidding, and of course in futures, anything can happen anyway. Just because there's depth doesn't mean there are times when things happen and there is nothing in the book. But most of the time, it's a better environment for developing traders. And in the trader lab, I use a two-lock configuration. So the first job of the first contract is to buy the stop on the runner, and then you develop trade management. Some traders are just going to take this short down to here, follow it down, and get taken out. Bang. Other traders are going to put this thing on from up here, and they're still going to be in it, you know, down to here, and here because that's a potential target. We're now below here, not so good for the lungs. Not a recommendation. Let's take a look. Where did we come? We came out here. Now this is setting up something called the neutral day. A neutral day, and it hasn't happened yet, means we're taking out the first hour high and low. What we basically had was the short squeeze. So early sellers, sellers in the market from yesterday, short squeeze, thanks for playing. Here's your play at home gift. Then new sellers came back in. We crossed the range, and now there's sell stops under here. This is an important level, and chances are, we're going to take it out. We don't have to. You know, who knows. This is part of the joy of randomness. And remember what this was. This is retail in a higher time frame, around 65, 66. Let's go back to the ETH high. Let's come to a different fractal. Too high in the higher time frame. We didn't get there. What's below us? Opposite. There. Next level. Can you see how all these pieces, it's kind of like, what did, when they call those? Not really a Lego. There was other things too. They kind of all fit together. This is sort of like matrushka dolls, guys. Higher time frame. Call these outside levels, these higher time frame levels, the big matrushka doll. Higher time frame. Inside of these higher time frames or fractals and matrushka dolls are the same thing, right? Going down, down, down, down, down. When I'm in this little time frame, and it's chop, chop, chop, and I leave it, it's the same behavior. This is your little matrushka doll. Inside of all these larger ones. Does that make sense? Oh, UK. Well, you're up late. Are you guys getting something out of this? Hope you're getting something out of this. This is auction market theory using volume profile, integrating it with a high tier tool like Bookmap. You start putting the pieces together and it gives you levels. This is what this is about. It's participant behavior. It's not predictive. That's where we get all messed up. We're looking for certainty because our emotional wiring craves certainty and cannot stand randomness. This is why we don't succeed and why we go to indicators and multiple time frames because we think if we put more indicators, what do we create? More certainty. I built trading systems because I was managing a significant amount of dollars over many asset classes. Trading systems are conditional behaviors. If this, then that. A condition, then what? Then you go down the track. It's kind of a branch logic of triggers and trade management and all the other stuff. I found a problem with that. It was basically math based and I took derivatives of indicators, if you will, created my own. I put them together and I thought more would create more certainty. When I would do back testing, I could tweak those things and the numbers look great. Oh, I can compress my risk. I can get more gain. What was the problem with all that? You would take a chunk of data 30 days old, maybe leave two weeks for walk forward testing and that in theory would give you the future. Completely erroneous. Why? Because what happened a week ago is not what's happened in right now or what happened yesterday. You guys following me? And I even took these systems down into shorter timeframes. 15 minute timeframes because I thought I'd have more data points and it still would break down. So I had to abandon them. Yet I spent several years doing it. So that's what I call Trader Groundhog Day and I'm just sharing that with you because I was not trading in the present. I was still trading in the past and when you guys curve fit indicators, you are not trading here. You're trading back there. So that's an opinion, of course. And I'm not saying it doesn't work for you, but I'm going to say most retail traders. That's what they do. And unfortunately, that's not such a good plan in my opinion. Now we have, you could be taking shorts in micro structure out here. We're below this. This was retail. We've come below it. If you come out here, this is outside in. This is mean reversion in a fractal. We're looking for this to go, right? Someone was asking me, can you get into real time? Well, I don't know. I guess this is kind of real time. And where are we trying to go? Not a recommendation. This is also material to us. We want to see behavior here. If I break below here, this is my next target. Not a recommendation. Do you have any questions? Yeah, Costello, yes. Casinos just play the game. An erector set, Lincoln Logs. Yeah, I had those. MRV, I can't comment on selling at the VPOC. This is mean reversion. I target the mean. I don't trade from the mean. In other words, I'm getting a question in trader lab. For example, when the market comes back in here, is it quote wrong to sell here? I don't have an opinion on wrong or right. You have to have an edge here. My edge is out here. IBF, this is a structured trade in the trader lab. I am trading to this for a scale because that's called mean reversion. This is the mean. If I sell at retail, I could just as easily come back out here. That's all I'm saying about it. Now, I think we're going south, but what I think has nothing to do with the outcome of the trade. You see, I could think anything I want. I could tell you loads of times I think I got a good trade on and I give run over. Why? Well, because the outcome is random. So it's just one of those. So was it wrong? The answer is no. Is it a trade I would take? No. Is it a target? Yes. What are we trying to do? What's too high? That's if I find where the buyers won't pay, I'm coming back to retail. If I get too low, I can possibly come back to retail. Would I sell this? I'm going to say maybe I prefer to be selling this. That's just all I can say. So I think it depends. Were we going to come back under here? We already checked it and reversed off it. So that's your risk. Maybe this is too low. You see? So there's no way that I can't give you an answer for you. I can only give you the answer for me, but right or wrong is nothing to do with this. It has to do, do you have an edge trading mean reversion and getting short at the mean, which is the fair price? Because we could come down here and come back up here and you'd be stopped out. So I mean, I could get stopped. Believe me, I get stopped out all over the place. And I'm okay with that. And the reason, by the way, I have to mention this to you guys. Yes, I take stops. What kind of stops do I take? Small as possible. So if I get involved in the market, I don't want to risk more than two points if I can help it. I prefer less, but I'm just not that good, you know? So, and I think statistically you will find that if you're running a three point stop, and we have stats in the trader lab that there's a statistical probability, you'll get a three point, I mean, three point stops, you'll get a three point scale subject to you vetting and having the skills to act in a timely fashion. All that takes time. So what do we do in a trader lab? Screenshots, discussion, questions, interaction, debate. And the question that I was just asked, would you sell this? Well, maybe, maybe not. Do you have an edge? See, the answer lies in the games. And the games are structured trades. Can you differentiate selling here versus selling here? If you can't get, for me, if I couldn't get short out here, which is a structured trade, the IB failure, which is a mean reversion trade, right here, I could take it short because this is trader lab structured trade too high. Then I'm coming back towards this, but not here. Is that the differentiation, Mars? Because I don't know where you are. Okay, let me see. Would I sell it where you did? No. I see where you put a boxer on it. Okay. No, I wouldn't have sold it there. As far as the Costello, the fear, the way you overcome the not taking the trades, the fear is statistics. Because if you're in a random environment, just like the casinos, if the casinos didn't know they had an edge, they couldn't play Blackjack because somebody walks out with a suitcase won $100,000 cash, they're going to change it from seven cards to 10 cards. Well, I don't want to lose that again. And that's what our emotions do to us. But if you know you have an edge, you keep playing Blackjack the same way. That's the work. Nobody wants, and I'm not talking about you Costello. In general, we're in such a hurry to push, click the mouse and play the game. We forgot that if we don't have an edge and know what it is, we're going to be overwhelmed by our emotions. And our emotions are run from the saber tooth tiger. Don't run into the burning building. Stay away from it. We have to run into the burning building. We have to face the saber tooth tiger. And the only way we can do that, just like the casinos, is know we have an edge. The work is all done outside of trading hours. You do research. You come to Trader Lab. It's not a boot camp. That's kind of trite. It is a reality check of the business of trading. If you want to be in the business of trading, and I mean the collective you who are listening, this is what it is, in my opinion. And I can tell you, just like you, I've been down all the paths, indicators, Fibonacci, Elliott Wave, Pivots, the full moon. And I always joke about this, but there was a software package out there in around, I think it was 2000 or late 90s, that was astrology based. And it had a track record. And it was based on, you know, the Zodiac. Can you believe it? And people bought it. Everybody will pay anything to quote make money. And they want somebody else to hand it to them. It's like going out and saying, will you please give me an ATM? I'll pay you $5,000 for that ATM. And I've got unlimited cash in the basement. What do you think? Everybody, what do you think? Really? Now, maybe, but you show it to me, because maybe I'll buy it. But after, you know, going on 44 years of this, I haven't seen it. And I've looked, I would have done anything to be profitable. Wouldn't you? But I didn't understand the business. I thought it was predicting, because when I first came into the business, all we had was classical bar charting. And I went to the CME and they taught me classical bar charting, pencil and ruler, head and shoulders, pennants, flags, triangles. And what's the thing about all those? They have measured moves. They have targets. So my orientation was towards prediction, because I thought that's what trading was. So I started out trying to predict everything. Well, that wasn't such a good recipe. Just saying. So I went down the wrong path. And I didn't know it. And I don't know even back then, if anybody knew it, to tell you the truth, because all we had, you know, all floor traders really didn't exist. So when I started trading, there weren't other guys like me. It was like being, you know, they put you in the back room and throw a carrot in there once in a while. Everybody I knew were floor traders. They thought I was out of my mind, which I think looking back, they were correct. So we were in different businesses. We couldn't relate to each other. But I did get a sense of how the market worked and that the market rotates in the stops. When I started building trading systems, I actually built them and designed them to trade into stops because it used to be my stop. And I came up with something called think like a retail trader, don't act like one. What is that all about? What do they do? Why would I be targeting the opening swing high by stops? Do you see how these things start coming together? You need to understand, write this down, think like a retail trader, don't act like one. I used to always get stopped out, you know, or sell the mid, sell the mid, buy the mid, buy the mid. Who does that? Well, sometimes we do, but retail traders do. So if I get long, which is not in this context, if I got long, where's the stops up here? If I come back here, what do I anticipate? Stops. Am I going to sell this? Nope. What would I anticipate? Retail trader behavior, counter rotation. Now either the gamblers win, right? Or they get the counter rotation and then their buy stops and all the other shorts in this leg who are trailing get squeezed out. I know that you would do if you're in trader lab because we think differently. We can't predict anything, but we understand at times, and that's what the stream is about, getting an alignment and understanding market mechanics. And then the outcome is random. It's no different than the casinos. You deal the cards, the random, the gamblers play the cards, the random, who knows. Except the casinos only play games that have a statistical edge. Costello, if you knew what your edge was, you would wait for your bus. You would only take the trades that have an edge and you'd bypass everything else. That gives you the courage to look to operate like a casino to go, you know, when this thing shows up in this condition, I have X percent probability of getting risk neutral and then X percent probability with a certain trade management process to get to wherever. And my edge is blank over a sample size of X with a random distribution of outcomes. We cannot predict what the other participants will do and when they will do it. To be in this business, you have to kind of change and manage your thinking. And that means your fear and uncertainty. That's what makes this business so difficult. We are pushing against primal wiring who run from, you know, the sabertooth tiger and to leave the burning building. We have to do the opposite. It's counterintuitive and the chemicals and that voice in your head. I called the voice and you had, by the way, 3577 icebergs, 673 icebergs, 1300 icebergs. Huh, what do you think? Are these guys getting along? So why am I looking for shorts? Because that's my trade plan and that's the context. Is the next trade going to win? Clueless. Does it matter? Nope. Can I control it? Nope. What do I control? My trade plan and my execution. What do the casinos control? How they play the game? That's all they control. How do they realize their edge? They interact with the gamblers. The gamblers walk out with dollars and the house has an edge so they over time in a random environment extract the dollars from the gamblers. Guys, this is trading. Interested in trading? Come to Trader Lab. This is what it takes. Cocoa Bolo is asking me, what about down below? Yes. All this is yes. This is our target area and it might only pop under here and come back in. And by the way, if it pops under and comes back in, I'm not going to take along and it might be the trade of the century. You're going to ask me why? Because I don't care. I just take the trade to give me an edge. If the trend is down and I'm just letting you know and we fall out, it is saying maybe this is too high. If this is too high, this is next on the hip parade and so is that. So this area, high volume in the intermediate time frame. So Cocoa Bolo, for me, notice what we're doing? Here, let's go into fractal world. So guys, let's look. Good question. Hope you're all getting something out of this. What is this? This is the shopping experience. Guys, supermarket, do you want to know how to trade? It's right here. I'm not paying that. Volume papers off. You see it? That creates something called a low volume node. This is an outside edge. We fell out of this thing up here. The shoppers were auctioning this and they went, eh, forget it. I'm out of here. Now we're auctioning this. It's a consolidation. What does that tell us? Too high, too high, short, outside edge. This is a short to hear, to hear, to something. Can you guys see this? This is auction market theory. What is it telling us? I'm not paying that. Get out of here. Break low. So this up here is too high. Come back and check. This is you going to the store. That's too high. Seller. Now why? Here's the trigger. I'm going to take the NQ off of here so you could see this clearly. This is trader lab. This is structured trading. You can do this if you take the time to learn it. And time doesn't mean six weeks. Be prepared to go to university. Be prepared to spend your weekends and evenings immersing yourself into something that appears to be chaotic. It is random. It is not chaotic, but it is random. Here's the shoppers right here. This is a fractal, like the matrushka doll. Here. There's that little volume. Now I can't do anything with this. I see by the time I see this, I've already passed out. There's my seller. So that's too high. And there's my seller. Now this is my entry. Look at the alignment to the right and look what I am testing from below. Remember, horseshoes and hand grenades. No precision. This sets up my short to take out the longs who have their stops under here and now trade management. This is a structured trade in the trader lab. If you have vetted it. Does this make sense? Thanks for the question, Coca-Cola. Yeah, rich hype. Pierre book map is a high tier tool. And it's a piece. In my opinion, this is the, I call this the tip of the spear. And if you come to trader lab and there's a link in the bottom of YouTube, by the way, you're all, if you're in YouTube, you're all invited to visit trader lab. There's no cost for you to do that. There's 60 PDFs of these trades, structured trades and examples of them, many different configurations that you can download and reverse engineer and see them. And then a library of webinars, by the way, right? We'll say who knows, by the way, how do you do this? Well, first of all, you have a structured trade that gets you in the short. That's trader lab, right? You get risk neutral. Why stops are under here. This is your scale. Then you put your helmet on and you have a trade management process and we're looking for wherever. And you know what, I don't worry about it. I don't go, oh, I got to get this. I don't know. What do I do? And I'm not saying this is the best plan. It's just a plan. I manage my trade. I get taken out. I bring the register or I get stopped out. The gamblers walk out with my dollars. Next. And I don't want to sound insensitive. I'm just saying is this is the business, you know. So over time, what does the casino do? Losses are overhead and cost of production. If you're in the, want to be in the business of trading as a career trader, you got to pay overhead guys. No free lunch. What business doesn't have electric bill or rent or, you know, whatever overhead, oxygen, you know, for the employees. Well, our costs besides our, you know, data feed and a couple of computers and whatever else you're doing is just the gamblers get paid. This is assuming you've taken the time to have a statistical edge. So trader lab, link in the bottom of YouTube. You can download 60 PDFs of these structured trades. You can reverse engineer them and see what you think. You can come to trader lab. It's a community of like-minded traders. It exists. So you can leverage the experience of everyone else. Our senior trader has 54 years. I've got 44. And then we have the full range from newer traders to seasoned traders. And if you're interested in a career in this business, I'm going to save you the trouble. If you're not willing to invest 12, 24 months or whatever it takes, everybody is different. You have to unlearn things you might believe to be true that are in fact not true as it relates to this business. In other words, your beliefs. I had to unlearn things I believed that were not aligned with the reality of this business. I didn't know it. When you believe something, you're going to keep doing it. In spite of the fact that doesn't work, I believed I could predict what was going to happen. I believed it. So I kept working towards it. And what kept me doing it was that random outcome, that's what gets you. That's what absolutely gets you because it works. You get dollars. You get rewarded. And that's the fallacy in my opinion. Come to trader lab. If you're interested, it's a great community. It's serious. It's no nonsense. If you're interested in the career side of building out the business of trading, understanding how the market works, what it might do, not what it will do and operating with an understanding of market mechanics. Why is the market doing this? I can't predict what it'll do. I can. I certainly understand what it might do. And then as they say, act accordingly and only participate based on my understanding. This is the last short right here of how the market works. Now, if I don't have a trade here, I'm just sitting here with my can of tuna. Remember tuna? By the way, I'm not a big fan. And I don't know why the tuna comes up in the conversation, but it does. This is too high. What was out here? I'm not paying that. What was over here? More higher timeframe retail price. I'm below it. What was too low and was a target coming down becomes too high retail high volume in the micro developing structure. I'm not paying that. You got to be crazy. The buying dries up. What's the trend? I'm below here. Trend is down. This is too expensive. Trader lab structure trade short to wear under here. Then helmet. Are you guys tracking? If you got something out of this today, please give a thumb up. It will encourage book map. But let me continue doing the stream and keeping the trader lab doors open. It's important. If you guys get something from this, please give a thumb up. Remember, there's a link there in YouTube. I invite you and encourage you to take advantage of the trader lab while it still exists to educate yourself and to maybe reframe how you see the business of trading. And where is our next area? It is here. Now, don't worry about all this stuff. This is part of what we do in trader lab. By the way, if you're in trader lab and you visit trader lab, the YouTube stream, this one, and these types of streams are available exclusively to book map discord trader lab participants to reverse engineer reviews, screenshots, circle arrow and debate and ask questions in the trader lab. And I participate regularly when I can in between my trading to post and to narrate and to prod thought in the trader lab. And there's not one way to do this. Here's the thing you need to understand. I might be able to put this trade on and hold it to here or deeper. You might put this trade on and bail out here. And that's okay too because that's your plan. There's no right or wrong in trading. It's what aligns psychologically. And here's the other piece. If you're in trader lab, you would know if this is a trade you should take because you've done the work and you'd know that if you got short here that this because this is the current low at the time would be your target for a scale to take these stops out a thousand stops to see how book map gives you insight. There was a stop sweep. Thanks for playing. This is when your broker said you give basket and then you're holding for this or not. I hope you got something out of this. Visit the trader lab and remember trader lab. You guys can reverse engineer and review this stream and that's exclusively for you through the weekend. And also guys, if you're new in the trader lab, thanks for visiting trader lab. It's a community of traders looking to build careers. If you're interested in a career in trading while past performance is not indicative of future results, the trader lab changed traders outcomes. It might work for you or it might not. You have to be willing to do the work and find your specific alignment with the market. Thanks again, guys. We are looking for this and subject to your plan. It could go deeper or down here or you could just fold it up, order lunch and manage your trade. Thanks again, guys. Thumb up, please in YouTube. Appreciate you visiting the trader lab and use that link in the bottom of YouTube if you want to take advantage of all the resources that book map offers. There's it's no cost and that includes stocks, options, crypto, algorithmic behavior, market maker behavior, swing trading, order flow, of course, with a high tier tool like book map and a lot of additional trader education and it's all available at no cost. You might find that useful. So thanks again, guys. Please give a thumb up and remember, if you're not getting the results you want, you might want to maybe reconsider what your objectives are if you want a career in the business. This is not a predictive business and I know that's what we want, but it's not. Think about the casinos ask yourself why they're successful in a random environment. We are in the random environment. What are they doing that most retail traders don't do and are you doing what they do? Are you doing what most retail traders do? Do you want to continue doing what you do or do you want to maybe look at this from a different angle and try to align with a business plan that has been tremendously successful and that's gaming and dealing and probabilities, not predictability. Thanks, guys. Have a great weekend. Look forward to seeing you guys real soon and thanks for visiting the Trader Lab. Much appreciated.