 Morning traders. Welcome to traders lab. I'm your host Tom V. Can I get a audio and screen check in YouTube and in the trader lab? Morning traders. Welcome to the traders lab. I'm your host Tom V. Thanks for stopping by this today. I Stream Monday through Friday 11 30 to 1 piece and stand at time and these streams are available to 24 for 24 hours And also over the weekend for anyone who participates in the book Baptist card trader lab chat as well as resources and additional information screenshots of structured trades and a library of webinars that you may review at your leisure and some of them I I suggest you Have some very strong coffee because they're up to four hours long of real-time narration Today's an interesting day and I think I what I always find about trading is every day is an interesting day So today is no different than other days. It is interesting provides of course opportunity and risk and we're gonna look at today What we anticipated? How the market manifested itself and structured trades? That are available so you can and the goal of the trader labs you understand it's a community of like-minded traders looking to Leverage their collective experience in other words share screenshots trades structured trades Mixing different methodology that might be appropriate And explaining and educating it's a a collective experience. I'm not a vendor There's no trading course and this is Available to everyone to reverse engineer and the idea so you guys understand when you visit the stream or even if you're in the Trader lab or just stopping by YouTube to say hi Is there's a business that trading is a business? It is not a video game It is about probabilities and understanding where edges or probabilistic trade Opportunities and of course risk will show up and the other aspect of this is it's random in the sense of the outcome of any specific interaction With the participants in the market now in order to Try to decipher these behaviors this stream focus on Market mechanics in other words, how does the market work and as opposed to a basic? Indicator approach the thing about Understanding market mechanics is it is the purpose of the market to discover what it's worth And it's no different than shopping So if we take an approach of what why do we have a market? It's to figure out what's too high What's too low and what's retail the other piece to this is? How does it do it? Can we recognize it and the part that's most confusing by the way for all of us is the transitions from Directional to rotational Configurations and how do you decipher do you want to be trading one side? Do you want to trade both sides? Can you only trade one side and then when it changes it becomes rotational? Do you then take for example today? Let's assume longs perhaps and Then do you only trade long or subject to your skill set and a vetted trade plan? Do you trade long and short and do the probabilities in this condition not favor taking the shorts But it does take a favor taking the longs if you can't tell the difference then you're really in my opinion at a disadvantage So what this stream is about is to help you differentiate your outcome from most retail traders Most retail traders come into this business thinking it's just it's an indicator business The way I see it and my experience and my experience is based on 43 years And I still learn something every day My experience was that indicators create a conflict and Know because of having multiple indicators and time frames, which is kind of what we tend to do However, if it's not consistent, there's no way to measure it the problem with that approach is Indicators by themselves without a market understanding Which is what most retail traders do with a very poor outcome as far as a career in Trading, I think we need to learn not only from what we've done But from what others who have gone before us have done and then is it realistic to expect a different outcome If we're doing the same things that they have done just a thought Something you might want to think about I Think we might want to go back to this hold on got to take care of some business here And again, everybody's mileage may vary General disclosure all book map limited materials information and presentations are for educational purposes only and should not be considered specific investment advice or Recommendations 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. In other words, you have to find what fits you You need to find your alignment This is day trading. It is not scalping What it is is attempting to get an alignment with what the market offers We don't control that we do control what we do and when we do it So it's a matter of understanding your control. It this operates like casinos operate. It's gaming Casinos play games that have a statistical edge That's the only games they play but the cards coming out of the deck are random in the way the gamblers play the cards are random That's gaming. Well, we are also gaming And we want to be the house I think versus be the gambler most retail traders the vast majority are gamblers I think it's better to sit on the other side of the table and there's a process to do that now Obviously in a casino they play the games exactly the same way so they can extract their edge for us since we're emotional beings Even if we have an edge we need to be able to play it Exactly the same way and the emotions are as much a problem as not having a vetted trade plan You put those two pieces together and I believe in a personal opinion. It's a recipe for disaster Now I want to by the way, this is a note for everyone Starting Monday, I will be quoting the December contract. That's ESZ Three if that's the symbol we are currently in September and we're doing what's called roll over if you're not familiar with that If you're in the trader lab or wherever you are make sure you understand what that is how it impacts the market How it may affect certain technical pools that you use like Delta and other elements So just so you know Monday, I will be using the December and all the levels from there now Let's talk about Today a little bit. Well, we know what happened yesterday. Okay yesterday if you were on the stream you saw that we had shorts Early actually, I think it was short long short and then we had a change in behavior Literally we had what was called the failed auction at the low of the day In other words, we took out the first hour low by a couple of ticks And then we had a huge move a reversal move to the other side and as I mentioned to you guys That changed everything and then it was the long side Okay, so, you know, you got to turn the boat around and I was a little slow to turn the boat around You know as I mentioned you guys and that happens, you know Always try to get better and Sometimes we all can get myopic but the thing about trading is You can recognize at some point if something doesn't work and you have structure and you see that you're not getting the depth Of rotation it could kind of give you a hint, you know So I took the hint and I got a line, but that's neither here nor there So let's anyway, let's get into the day because there's a lot to talk about today Now I posted in the trader lab today Based on the RTH open. I want to point something out I haven't been doing this too much, but I wanted to do it. Let me just see it. Yeah, here it is Let me try to get Hold on this is the ETH right and Okay Yeah, we're still in ETH over here right before the RTH opened at 830 my time I want to show you this just so you get a little sense now. They were trades in the ETH Longs is a matter of fact a couple shorts a couple longs But I want to show you a level and you know auction market theory is based on shopping This was a disc is a distribution. Let me just show it to you And I'm gonna you're gonna see why it might be relevant maybe if I can grab this thing up here I just want you to see what this looks like. I'm gonna scrunch it down a little bit Now this is the ETH. Okay now what this is so you know what this is This is high volume and remember shoppers when you go to store shopping is simple you pay retail Well, that's high volume. Isn't it you buy and sell a lot of tuna at a dollar a can There's gonna be a lot of volume there if they put it on sale You would think there'd be more volume, but the fact that a matter is there's less volume on sale Why because the demand if you think tuna is worth a dollar and it's 75 cents What's gonna happen the buyers show up and then the sellers raise the price I mean and for whatever reason it goes down there. Maybe they want to move inventory Whatever, we don't know right, but it rotates down there and who controls the price. It's not the buyers It's the sellers. So if they raise the price and you think this is the fair price They start raising it. You're still oh, it's 90 cents a can Hey, that's still a deal because it's a dollar then the sellers can raise it higher and You're still gonna get buyers, but the volume as you notice goes down as the price is being raised until we run out of the buyers They say, you know what? It's a dollar fifty up here. I'm gonna shop someplace else and Either the sellers lower it back to retail to get you to interact again, or you go. I'm never shopping here I can buy can it can a tuna down at the other store down the street the supermarket and in there It's 75 cents again. Let's just say 50 cents a can new price of tuna. Nobody shops up here They all start shopping down here. Anyway, that's the point now. Here's the important part of this In the ETH we fell out of this price. It was too high We fell out of this price. It was too high and As we were auctioning buyers and sellers retail it was too high. You notice how we fall out same thing here And we come down here and all of these are auctions and what it think in fractals So this is the whole ETH and inside of it are these auctions and what the purpose of the market is to try to figure out What that what is this thing worth? Well here up here is the lowest volume in The whole ETH session right about there and I labeled this it's called a low volume node I want you to remember that now. Let's move on and it's kind of important Because what's the last auction or the last information we have as far as what the participants think our tuna might be worth or ES If you're not shopping for tuna It was too high Here right in here. So that's the separator So this is the overnight volume point of control volume point of control is another word for retail This is yesterday's retail price. So yesterday in the RTH. This was the highest volume. So we are opening basically At the retail price in the ETH, which is the same as the retail price yesterday So and there's a little bit more the overnight mid. So retail retail Mid Okay, so right in here and yesterday's settlement right up here. So right in here's a fair price Retail and when we open like this, we can anticipate a couple of things One is it's going to auction back and forth And that's what I was anticipated and I posted this in the trade a lab But also there's another piece Some if one side grabs the ball then you can get a directional move and and initially on and I always Suggest in a trader lab that if you don't have a specific plan for the open that you wait because there's going to be Potentially underlined a lot of opportunity to participate with structured trades that are available in the book Baptist card trade Oh, however, the open because the speed the volatility was what I really mean And it's it's a separate trade plan at least that's how I see it now you can do whatever you want, you know I'm there's no monopoly on the right thing to do But if you can't measure it and you don't have an edge just like in the casinos You're the gambler. So if you can't recognize or participate in this your job's not to participate now This is the RTH open. Let's go take a look now. I'm looking at this Naturally And this is what I know I'm opening here our th open. This is retail and I consider this Balance, I know this is my outside edge from the eth now You're gonna see how the pieces come together by the way if you have questions in the discord trade lab chat Please post them and also try to keep the chat clear just during the stream because things scroll off I can't see them and also if you're in YouTube. There's a delay so Post in there and I'll do my best. However. I cannot Watch the chats and stream at the same time. So I have to kind of, you know Pause so just so you guys understand. Thanks for your patience. So This is called to develop. So right here. I'm looking for this This is what I anticipate and why because of the location of what's retail. Remember retail What's too high? What's too low retail and This is too high in the eth now, you know, the lay of the land So I'm looking for this that you know this. Well, what do I see? Buyers out of the you know bang and they're off here. They come spinning out of the turn It's ES in the lead, right? Okay Globex he so this was my separator Everything above was too high. So let's watch I come up here surprise to me Anybody ever get surprised? This is the value area high from yesterday now I'm gonna give you a couple statistics just to kind of think about so what we did is we opened In range in value. Let's give me a second guys. I Lose some of these levels. I just want to make sure I've got them right So we open basically I would almost say it's not lower in range You know, it's basically the open was right on top of yesterday's clothes and settlements So pick one, you know, it's like do you feel lucky? So here's some stats taking out the first hour high Which is called the IB Is a 67% probability more or less The previous Value area high hold on a second 16% low probabilities Beak it's either lower outs. Wait, no, I gave you the wrong ones. I'm sorry guys. I got tons of statistics here Overnight volume point of control 83% probability we're gonna get this that's not a breach Is it the naked volume point of control? Which is the point of control from yesterday 70% probability the first hour high 69% probability The previous value area high 59% the overnight high 49% the previous high 40% now here's what's important about this Those are only statistics, but we have levels to aim for so this is let's go back to this and Past performance not dicky future results. You got to vet everything who knows, right? So this is our developing VWAP in mid. This is our developing Volume point of control and the way to look at this is retail Because the volume Determines what's a fair price now the thing is if this is too low You might not be able to buy it there now. We don't know This is aggressive buying now right here. It's like what's going on? Pull back to mid now In the trader lab There is no trade here in a structured trade If you have a plan where you can trade this then of course that's it But I want to I only share structured trades and occasionally I'm gonna walk a little walk the line a little bit and share Trades that are kind of a little on the edge if you know what I mean, but they're pretty structured This is called V pock migration. This is suggesting let's read the language Remember the trader lab is about interpreting market mechanics and behavior without indicators because if you can understand behavior You might be able to deploy indicators that can be in alignment with the perceived behavior It's about understanding the language of the market versus a line that crosses over That's looking back and measuring price or some derivative So that's a difference really So and you might be able to use those tools better if you actually know what's going on here This is a structured trade that is saying this is a new retail price. You notice how the market ran away Well, what it's saying is too low and now we pause now There's more volume right here than there was down there and we ran So all these are little consolidations, but we're running higher higher Consolidation break high. These are supports in micro structure And you've seen me do this if you follow the stream and if you haven't seen me do it There's that library of webinars you can watch so this is the first structure trade in the trader lab It's called V pock migration and here's how it would work right here is too low This is micro structure. Think of Russian dolls. It's the easiest way to think about it This is called trading and fractals and what it is this volume in here this little thing or this little one is The same as the big one Russian doll. So this is too low, which we don't know. There's our buyer Now we don't know if it's gonna come back here fall up right who knows, right? I don't know wish I did this is too high There's my seller Here's my test this suggests the potential to go lower. It's not a short It's say what's going on question when I Take it out it at this now if this was resistance becomes support. Just follow the yellow brick road with me Here's my buyer. That's pretty good buying. That's pretty good buying the sellers took a shot here. Not so much There's another piece. I'm gonna share it with you too. Mom's were at it now This is the mid okay, which is neither here nor there right here. I'm going on. What's going on? So I Pulled back What the hat this is the stop and iceberg detector? I just want you to see quickly some tools Only four cell stops come out here only two Where's my sellers and right here? This was my seller You see the test. Here's my seller and we got four stops in two That's only the weak hands getting taken out. Who do you think that is retail traders now watch order flow Now this is still not actionable for me. It is the is this really what I think it is question Order flow is like a hand pushing from underneath on the other side Watch they are pulling That's lifting the lid. Okay, just something you could think about not a recommendation. Here's your microstructure There's the volume break high too low Support microstructure. I'm just reading it. I'm not giving you anything more than interesting right volume break high too low hmm volume This is support Right Break high now you have v pock migration. Let me explain This is called fractals. So if this is too low in microstructure as we're moving along The developing volume point and control now think about this like this is a supermarket price This is your convenience store, but they're selling out at this price. You can't buy it here anymore at the moment And this can change There's the buyers notice the stops are coming off 85 going up Watch now here. There's five a little exhaustive. What do you get counter rotation? What was too low? There as long as I'm above there and what comes in here liquidity pressure Now first structured trade if you weren't able to get on any of this This is your first trade in the trader lab. Here's your microstructure. Same thing is over here. Watch Here's your buyer Underneath that comes the next level of fractal up. This is your buyer in the supermarket So who buyer in the convenience store? I always think of it like shopping because what's the ES worth? Remember we're trying to figure out what's too high. What's too low? Well at the moment This is certainly too low and as we went up. This was too low. This is too low This is What's going on? Oh, it's too low supermarket migration long Trader lab structured trade. Okay. Now watch Yesterday's high. What is yesterday's high? Let me try to find the statistic By the time I find it It's not a high probability, but the context is telling me there's aggressive buying It's about 40% but it's a target once I'm coming up like this. I am looking at targets What's over a previous high stops full session VWAP? This is a target if you got long here at least for me and you have to vet this for yourself What is on the extremes? Stops what but do I want to trade into? Retail trader behavior write this down think like a retail trader. Don't act like one If we get do you think there might be stops at yesterday's high? Do you think that's a place to scale? And now V poc migration, let's start labeling these things. This is called What's going on here? Okay a Variable high volume node. That's what I call them. I have made a name up And remember this I'm over this layer too. This was a resistance. So I cleared my resistance from the EPH, right? That's why I went over it with you Variable high volume node now the other thing that's very subtle in this and I want to show you this Right here. This is a long This migrates up watch this behavior if this is too low too low and you can see the buyer Here's my volume. I Test I break out above it now my volume is here I'm higher and what do I test here? Is this too low? It migrates up Suggesting there's more Volume price and volume moving together. This is the idea of auction. What's a fair price? And you know how auctions work you ever go to one? Shifts higher too low long so long Trader lab structured trades long Stops here scale helmet now. Let's watch Does this look familiar? Guys is that a yes is that a no is that maybe? What do you think? This is not an issue. Let me show you what it is This is retail remember and there's a reason I go over these things at the beginning of the stream Oh, it's a dollar tuna Let's put it on sale 75 cents a can Outside edge. Oh It's a sale Let's bring it back to retail This is a context inside a context. It is called mean reversion Mean reversion if you understand me in reversion and we come outside and you have structure Which you may or may not it is a long back to here or not Remember the stream here is structured trades market mechanics in a trade plan Here's the thing about a trade plan guys. I can show you or share with you things I have worked out over many years But here's where the trade plan comes in first of all this here is too low too low, right? Buyer if I rotate outside to look where the low volume note is Same is what I showed you in the ETH except this was resistance Coming back here. This outside edge is now support, right? I Can come back here if this was four points instead of the range It is the behavior is generic. This is what I want you to understand if my trade plan does not support this I cannot take this trade Okay, but the behavior is generic the behavior of the market doesn't care about our risk reward or our plan Or what has not what qualifies because the first job and trading in my opinion at least is get risk neutral Protect your account be around for the next trade and thousands of others that may come after that if you're in the business One trade, you know if you're foam owing in and you're thinking dollars and it's going through the moon Alice That's a prescription for disaster. So I'm going to recommend maybe you don't do that But this here once we test outside and we come up we pull back We come up making new highs We pull back we get V pock migration. Does this look familiar? It's a long or an ad or nothing watch Watch So the way I think about this I'm just giving you an idea and I'll check your questions if you have them This was too high There's my seller. I come up here. This is too high. Remember what I was showing you coming up low You write this was a little too high. There's your outside rotation. There's too low. There's your buyer There's your pullback. Here's your pullback, you know to this volume right here So it's all in alignment. There is too high. There's my seller See the seller. So what is this? Isn't this the same thing from the other side? This is Resistance now nobody knows I'd love to tell you. Oh Get out here. No, but here's what I know watch If this was too high in my convenience store the little store They won't pay it. Where might they shop next? Back here Right In the supermarket think of it in fractal. So this is a higher time frame some more volume This was too low in the supermarket I check it right here too low Here's my volume here and here's my resistance now watch the behavior Here's what happens If you get long here This was too high Right. This is the scale For this long Then if we can't get above this volume We can rotate and who knows right fall out do whatever it's going to do I mean, that's you know, the lovely world the trading by the way, I have to mark this hold on one second. I'm gonna Um, yeah, let me put that there So we know Because how does the market tend to work it checks prices and all fractals and time frames I mark these on the way up because we can come check them out if we come down And I don't know so since I'm not I don't know what's going to happen All I can do is try to stay in alignment. So too high long Scale you see the behavior there scale now. I have to clear this This is my volume point of control right here at yesterday's high Looking good lewis, right and I will check questions a little bit. I want to get through the sequence of longs here Okay, let's see where other targets might be overnight high is is a statistic 44 70 is a statistic. These are targets and there's one more. I think 74 75 Uh, yeah, I posted this in the trade lab. It was like I think around 74 75 and there's another one Here 82 50 none of these are recommendations, but they're all posted in the trader lab So We all know that maybe we might get there. So here Right, so this is remember long resistance Long resistance Helmet notice what happens here Clueless Too low v poc migration Watch, so what am I going to do? You know what I'm going to do. I'm going to label it why Price and volume are moving together. So as long as that's happening I'm a happy camper. I do have some targets this one Right and you guys know and if you're new to the trader lab and past performance not addicted to future results There's over a 90 Percent probability we're going to take out either the overnight high or low I'm inclined to say it's going to be the high considering we're getting Price and volume moving together. So let's look so if you were long From any of these longs that you know, we've been I've been narrating here And there's going to be more you'll see them Uh, we're going for this Okay, I don't know where it's a sequence of targeting. So here This full session v-wap is a viable target. This is a target. That's a target. That's a target and then 75 and then you know, helmet So let's watch So this v poc migration now, let's look at a change in behavior. So this remember too high Scale risk neutral. This moves up looking good. Lewis. What do I what happens though too high Too high too high seller Seller Too high see it Now, I don't know what it's going to do. I'm clairvoyance is I'm waiting for I sent in my coupons and it hasn't come back yet This now becomes too high So what happens now? I'm going to show you something. It's almost magic. It's just the auction though And remember, I don't use any indicators. This is the v-wap And this is now too high Watch so when behavior changes it is suggesting the potential take stops come back here And v-wap and maybe mid now. Nobody knows now. Let's come back and look at this Here's an outside edge remember mean reversion and it can come it could be as mean as it needs to be We don't know remember. We don't know what how far outside is that's the mean part of mean reversion But what do I know? What do I know? I know This is too high in the short term I know I broke below this price in the supermarket. It's too expensive And I know this was too low in the supermarket And I know if I look at my swings, where's the stops under here and under here It always got to look left if you're a retail trader. Are you trip? Where are you trailing your stops here? Here right you guys know that right? You know how I know it. That's where I used to Put my stop. How about you? Well, think like a retail trader. Just don't act like one right here Now this is something that in the trader lab you might not get involved in This is a structure right here The trade in the v uh in the trader lab in an uptrend might be to come out either here or here Come back to here come back to here and then go here here and up. So let's watch And again, it's subject to your your plan. You know, who knows, right? This is a long for me Now you're gonna say we have but what about this? Yeah, what about that? What's the trend? Where's my statistics? Where's where this is left over from the last time we were up here and it was a retail price The market tends to check retail in all fractals and timeframes. That's retail. Well, if this was retail last time we traded up here and Possibly it was too high. Is it reasonable to come back? The shoppers come back to check it also in the eth We basically this is the eth high came back and checked it So we checked it in the eth But I have this stat that's over 90 probability and you have to vet these for yourself That we get here and if I get there I can get there and if I get through there, I can go to the 80s Somewhere It's up here someplace stay out there 82 not a recommendation. Do you see how you put the pieces together now the thing about the auction? They're levels. They're not walls They're nothing more than maybes and in trading and write this down if you haven't thought about it The best you got is maybe so this is a long This is the scale. It was too high. I'm trading in fractals So you have to scale ahead of this and then you're going for this. Well, let's see how it works V-POC migration, huh? I guess that's too low Let's watch Where do we come? Where's the stops under here? Where do we come? out here This is outside edge again. What is it called mean reversion? Here's why we call it mean. Where's the stops? right under here Right here outside edge now. This is a buying trigger watch it. Look We know the stops are over here 90 34 stops come out by icebergs Important the so you understand who uses stops mostly. It's us And are we smart? No, we are retail traders with a astronomical failure rate And why is that because most of us are all doing the same thing Well, if we can reverse engineer based on your experience in mind as we developed in our journey Hopefully to become a career trader. We need to understand and journal and understand The behaviors in the market if the market Participants all have their stops piled up and you run out of buyers and we rotate Isn't it reasonable to think the market will go in that area and then if they get into the stops There you see the delta those are the these guys coming out the other part of it is As we approach this level The the order book they're pulling the liquidity when there's no liquidity in the book. It's going to rip through because They're looking, you know the sell stops. There's nothing. There's no buyers Basically, they're pulling away from it But then when the stops are going off the icebergs are buying into these stops They're absorbing and now look at the book how the order flow comes back in This is how heat map can really help you in book map because you can see this I'm at an outside edge This is called mean reversion and what it is is oh the tuna is on sale Here's the retail price now the fun part of trading is we have no idea So you can't know all you can do is anticipate to participate If you got take it out by the way On a trailing stop or whatever this is another long and where you got to scale here because it's called mean reversion outside it Then you're back on the gravy train. Hopefully for gravy and not a punch in the nose. What are you gonna do? Let's come back. Where was it too high? Let's come back and do the same process Here it was too high. Remember this is where the selling came in what I do And I'm going to use the term very specifically attempt to do is look at where it was too high Just like you guys do except I look at it a little differently. I look at it based on volume. So if I know here Like here, let's look here too low buyer buyer too low Here's volume and you want it to go pink and it goes You're out, right? Well, if the sellers were activated here I know that I might get sellers again Right, so if I get long here, I got a scale here. This is the mean That's why it's called mean reversion and also it's mean and then this was too high So I need to be thinking about that So it'd be here And depending now depends on how many you're running, you know, this I know is the next obstacle If I get my scale here, I could just be trailing or it could be wherever, you know, this is subject to trade plan, you know So far Watch Looking pretty good. I got my volume here. So there Rejected. Okay. I'm still above here. This is all okay. Here's my volume My volume here is equal to my volume here and now I have no clue. I'm going come on You ever root for your horse? Never been I don't think I've ever been to a horse race and um Here's the high volume you could see it here. So what we want to see happen here Here's the volume you want it to go pink. Come on And here's the volume. Come on And what do you get the opposite seller Okay, now what? If we can't get back So here's your seller Here was your support You know, this is the volume point of control what we want to see is a test and continuation Where do we come watch the structure This is the seller. This is our resistance, right last place where we had a price And it was rejected to go north. I have to clear this. So if you're in this subject to how you and it's all up to you If you're holding You'd be going, uh like me Please right. Do you ever start asking for a for a break? Clear this when you see this here For me Hasta la vista We'll see on the next one. Thanks for playing. You have a couple indications here this seller it needs to Right because here was support Breaks below comes back. It can't get above here. It needs to get back above here Can't get above there. That's resistance. There's your seller. You're still got you're still hoping Where does it pull back? Here Too high right there There's your seller. Do you need any more convincing that maybe it's time to hit the eject button? Certainly up to you in your plan Are you guys tracking and what is this? By the way, it's the mid. Huh, what do we might we do at the mid? I don't know for sure about you, but for me and what's this down here? Oh, you're saying What a coincidence. I know you're saying that, you know, what that's how I used it when I was first figuring this out Uh, and I got a lot of heat from other traders who told me It was crazy Because I don't forget I learned market profile in 1985 and it was Peter Stottelmeier the guy who created it Um, so this was too low. Remember? Well, if I come back to an area That's too low Remember shoppers now. I don't know by the way. Why didn't it stop here? Why didn't stop there? When I figure that one out, I'll let you know because I have no idea Watch the behavior here. We fall below here. Now. This is another reason to make you nutty and I just want you to Just have an open mind wasn't this support that from there watch Wasn't it support doesn't support become resistance I break below support I pull back here What does it do too high? I'm it back inside the range Now I'm not suggesting to you. It's a short. I'm going to suggest to you. It's something to contemplate What do we have here? volume seller Watch now. I'm thinking I still got a high probability target up above. Remember the overnight high I'm above the eth low volume note. You didn't forget. I know you didn't and I'm testing what was too low previously When this broke below here, I was testing what was too low previously here, but it became too high That's why that and the vwap So there to there Not a recommendation. It's not a trade or lab structured trade. I'm just giving you something that you want Here's a consolidation. This is micro structure And I'm at a location right and who knows Wish I knew I don't know So there's my micro volume There's my buyer. It's the mid It's the vhv in Now let's watch and I now we'll look at your questions This is a long Where do you have to scale vwap? Why? Vwap sellers retail trader behavior. They're mechanical. They don't understand what this means And and again, who knows right? You know, and what was this? Too high look at the behavior here Reaction now for me, I know that if there's shorts in here This is where the stops are going to be. I also know based on Retail behavior remember think like a retail trader, but don't act like one that we'll see potentially selling So I want to scale ahead of this and then either it's going to fail Right that sellers going to be right and and I'll scratch the trade or I'm using trade management Which is under these little structures, you know here see the buyer the test Support micro structures stop under here whereas that happens. I get a happy meal Then back here these guys become fuel for the up move. There's their stops coming out Thanks for playing your broker sends you the gift basket You ever gotten one of those from your broker? If not, you probably ought to get a different broker Then we have our stat target And by the way, what's this? I know you've seen this before I'm going to pause now Okay, because I think you see what's going on is everybody tracking and then there's as they say there's more We have more targets above it will I'll stop right at the overnight high questions and I apologize for taking some Uh, I think ramen you asked me about I think I'm showing you in book map how I use it Um, and it's a combination of pieces Um, if you come to trader lab and if I have time I'll show this to you There's a priority or for me a hierarchy of inputs Um, I call this the chassis So the behavior of price and volume which is based on really what the market's all about is it's it's an auction Really because they're trying to figure out. What is it worth? That's why we get rotations and it's a price discovery process Now nobody knows what it's going to do because where's too high where's too low Where's the high of the day? Where's the low of the day? Well, we won't know that until we have hindsight So in the meantime, it's can we detect? Um, the price discovery or auction process. That's what this is all about Then it's order flow using tools like book map Uh to see inside so I can see microstructure So what I can do with book map is I can get inside So I'm I call book map to tip of the spear. This is where I execute and this is where I can open it up And see this I can't see this with uh standard software No, I've been trading this process for a long long time. I think 2007 or something where I really was doing this, but I didn't have book map I didn't get book map to 2015. So I was doing this process With a uh, but in higher time frame structures. So I had less granularity I didn't have any of this and I could never read the dome When I started trading in 1980, we didn't not only didn't have a dome I didn't have computers. We didn't have an internet and I think that's another conversation for another time, you know So, um, but anyway So it's a priority of inputs So when I get inside into more minutia, this is what I'm looking at because I can read Here and then this shows me the order flow right here. So I'm seeing Uh, what's happening in the book. I can never see that and then when dome's first came out, which I might have been 2000 You know, I can't remember, you know, I don't remember any of this stuff Uh, I tried to read the dome. I couldn't all these numbers clicking around. I couldn't do this and trade. I just Didn't handle it and that's why I got an order flow tool when book map first became available I looked at that book map and a couple others that were out at the time and to me book map was just levels ahead and I did my due diligence and I felt I was making the best decision I could based on what I knew at the time and it turns out in hindsight, you know, it's just like a trade It was a good one Because you if you follow what book map does it they're continually innovating and introducing, you know, new new products New add-ons, I should say new tools and it's all included in the global plus Packaged with a couple exceptions like to stop an iceberg detector and you know some of the other other tools, but Primarily everything's included in it. Uh, so They're pulling they're pulling they're pushing this is order flow. Anyway, I'm just wanting to say so now North Next target, okay, any hope I answered your question. Um Plenty of people in a narrative, it's See the word balance gets thrown a lot. It might never be fitting makes sense. You provide your description of what you define as balance Um Bailey and the thing of balance is it's fractal in the sense of what is balance The thing about what might I'm getting a question in the trader lab. What's balance Now balance is a term for consolidation or two-sided trade or rotation And for example, this is balance right here and the vpok is retail So balance is what's too low? What's too high and rotational trading? That's balance. So it changes from directional to Rotational and that is its own context inside a context So if we and we don't know, you know, so if the market's going up The bullet train right which we can assume today the trend might be up Inter me uh on an intermittent basis the market is going to exhaust And then the longs that are in the market or new sellers Are going to take profit the longs and then you'll get some shorts. I mean people do sell these rotations And we can come down to the other side or outside edge Where's too low and this is where it changes To what's called mean reversion So the mean if we think the trend might be up and let's assume and we have this statistic Don't forget right high probability if we roll to the outside edge. Oh, it's on sale My tuna is 75 cents. Let's buy it because retails a dollar over here in the tuna s&p Market 75 cents on sale Oh, take the stops out. Thanks for playing. That's life in the fast line Test yesterday's high. Lovely outside edge back to retail and now where's too high Statistic that's balance now. Here's the other piece about this. It's fractal Where's too low? Where's too high outside edge was out here Retail is here Too high was up here You can see it there. What do we do? We come back here and check retail and what happens the buyers So this is balance from here to here We pull back here. It's too low. Now. We don't know that it could just That could have been too high and we could come all the way back. We could just stay here So that's balance when what happens here is we come back And this is a potential long if it's in your plan right here. There's the volume And what was too high this right? So if you got long You got a scale either here Or no, this is all the same structure. This this So this let's look at the microstructure This is balance and micro chop chop too expensive Seller come back and check the price in the micro. I'm not paying them. I'm leaving That's your convenience store eight o'clock saturday night Ben and Jerry's get that pint of ice cream and they charge a horrendous amount of money or you need the can of tuna and For your movie. Good luck with that and uh, we come back to retail We come back and check retail and in the supermarket this price is too low But we don't know that it could come out here. It doesn't I get my buyer now. My resistance is here I got a scale Now it's either gonna fail which you know, they do or since I have this target remember Bang and I have this target. These are all targets. So when I'm trading I'm not only operating in this to try to get location based on the current behavior I'm also trading in multiple time frames This is the daily time frame and then in a higher time frame. There's more. So it's that's that fractal I hope that answers your question about balance and the thing is you know trading's like a slippery banana peel because You don't know how you don't know if and you don't know when guys write that down None of us know any of these things. So How can you be responsible for knowing something that you can't know? How can the casinos be responsible For the cards that come out of the deck or how the gamblers play the cards They can't all they can do at the casino is play the game Exactly the same way so they can extract their edge over a large sample size of random interactions. This is how we measure ourselves Let's look right here. Okay. Now these are targets, right? Okay. Now remember our upside target. I think was 75 or something like close. I don't remember um It's in the trader lab For some reason there was 75. I can't remember why And then another one you got to watch 80 and this is another Target up here. So here and here That's because this is resting liquidity and they've added you got 300 here. There's not much sitting around here So this is the outside edge of a low volume zone That was left behind from the the day we broke down, which I think is Wednesday So all of these are targets, but you know if it never gets above here It's okay. Anyway, this We're only at 9 a.m. I want to move along because I'm But you know what it is the reason I take this time to go into minutiae This is a way to stay in alignment as close as you can the other way Thing about this is I perceive it as language So i'm interpreting I'm speaking market. It's it's a way to visualize this. Yeah, you're welcome ballion So let's look Too low. There's your buyer Here's your test now. This is microstructure. I'm not recommending anybody Manage their trade, but you might if you vet it stay one level behind And I'm not recommending it because if you tuck up too close You might just get taken out on a counter rotation and we keep going marching, you know, there's no way to know So you need to vet that And these are conversations that take place in the trader lab. You see so too low buyer This is too low break high Too low break high Too low. They're just they're just structure Break high looking good lewis here break high. Oh, we can't wait. It's looking great Uh, no break low. Hey Come on up What happens in the microstructure? too high Break low It has to clear this volume now if you're trailing you might be under here Or under here, you know, it's up to your plan, right? And what happens oslo vista, baby. You're out Watch now What do you do We have a stat you like this at 9 30 central time my time and it's not quite there yet This is the first hour high. It's called the remember I said, I know you see. I know you guys are listening There's about a 98 probability will take out you the first hour high or low and it's like, huh There's the i b and I have a target above Maybe we should try to get long because it certainly seems and it doesn't have to that this Just like this was a high probability target that maybe Maybe That's a good target. Let's get long For the target So let's see Now remember, where's our obstacle was here, right? This volume right there So Let me show you this now. Remember I said I was going to show you something and not all of them are They're structured trades and there's near miss structured trades This is the area for potential long here in here For long you're outside of yesterday's range. Let's put the pieces together This is retail. This is the v-wap. This is the mid now. It has a little more risk to it Subject to your plan and I'm not recommending anybody do anything. You know that But this is the area. There's going to be stops Under here v-wap and mid. So to me this has more risk But so let's watch it. Okay. Let's just read the structure. This might not be your trade Um, and I'm just going to leave it at that Let's look at the fractal. So So this is the area right here actually for the structured trade But this is the behavior. Let's watch it Micro structure here. Let's let's get this thing going. You notice how this is out. This is algorithmic behavior this stuff So they're pulling pulling pulling So, you know, what's going on here? Reversal up Micro high volume. I don't know Volume again This is too low. Don't know Buyer again. What happens here? Liquidity comes into the book order flow. What are these guys doing? They're pulling up What does that suggest now? This is all algorithmic. Okay What is happening here? They're adding this is a potential long now. Let's come back. Where was it too high? Here was too high so This would be an area to consider a scale What was too high? Area to consider a scale Are you seeing how the structure might work for you now? There's nothing, you know, everything is completely random in all of this Here, let's look at this. So we know about this one right So this Is an obstacle why there's your seller This was too high check Maybe we're going to fall out. Do we know nope But what do we what do I know? 930 central time I be stat 98 or whatever percent probability is which is right there So why wouldn't I be trading forwards this? I have to tell you I am I was and always will Is everybody tracking now this was the next target and that was you know, these longs I'm going to pause you have questions Yeah, Sorenson's posting about what's where should your stop be that is a statistical answer um It I use structure however I also look at outside edges because it's like for example and like this thing look at this This is like in the middle of nowhere Right, how about maybe it's not in the middle of nowhere here. Let me show you this This is just to make you nutty because you're going to now join me Um in the nutty world because you're going to see behavior At the moment, so I'm going back. Okay right here Let me explain what you have here. This is a distribution, right? You've seen this we've talked about it This is the fair price in this balian. This is for you too. So this is The outside edge Which is created by that The outside edge is Created by this. This is the boundary. It's a consolidation, right? This is rotational now when it pulls out here This was or it could be A long Mean reversion which comes back to the mean Actually the mean Yeah, right Comes back to here. So that's where all this came from Then so that's your outside edge and now you're in a rotational trade. You see this And this is too high now when you break out of it This leaves what's called low volume node and what's the volume what creates low volume is there's no chop The chop is a consolidation in an auction when you rip through something It didn't have a chance to check it leaves this behind It's the same as this outside edge and it's the same thing I shared with you this morning in the eth Which was an outside edge This is the bottom outside edge. This is the top outside edge when I blow through it I'm basically saying this might underline be too low and now i'm starting a new distribution This becomes the outside edge. So if I come back to it potentially or I come back to this one I can be a buyer if I come back to the high volume area I can be a buyer also this behavior here is the same as a v poc When I talk about v poc migration now i'm going into fractals high volume is high volume doesn't matter So i'm using high volume as the as a price it's either too high too low If I come back to it from another location or fair So the idea is try to get by it when it's too low try to scale at retail And maybe sell it against what was too high or scale and in this configuration because I have a probability over 90 Seven percent to take out either the first hour high or low you might understand now why i'm getting long long long for this target And here's the other part that I the point I want to make is what happens here This is the i b high It's not nine thirty yet, and I have over 98 probability watch This is why the trader lab is built on the business of trading which is statistically based If I have a 98 probability of taking this out If I get a if I pull outside to the oh, it's on sale price And this is retail with a 98 probability of this. Can you see how I'm putting a trade together? This is a structured trade in the trader lab now whether or not it's in your plan That's up to you And what I always suggest is you take it piece by piece one structured trade at a time and you got to vet them Because this could just as well come here and it could do the alcapulco cliff dive and you take a stop That's no different than the dealer dealing somebody a a royal flush, you know what I mean? It's no different Outside And where was it too high here scale hold target and then helmet And look what it does you guys tracking I think I have to stop here for a little while And we'll continue Are you guys with me you got any questions? I hope you're getting something out of this, you know, I never know if this if you guys can do something With this but in the trader lab, this is what the trader lab is based on it's a community of traders sharing their experience Uh posting their charts and their mock-ups and you know all this kind of stuff So everybody can benefit and there's not a you know the other part about this is there's no One way or right way the trade There's only metrics Now i'm going to show you something else here now. We have a couple things in the trader lab We have something called the ib failure. This is a structured trade. So this is a target coming up and again remember Clueless right and wasn't there rest there's resting liquidity here So that's a possibility And there's also this target up above a possibility and remember the market could care less about anything that we think How do you know this is going to be the high of the day? How about uh, no clue Why it's not my job You know, it's like you ever seen those signs fortune teller you know and I'm not a fortune teller And I gave up a long time ago and I thought as a trader I'm supposed to be predicting things But I found out and it took a while Slow learner that uh, I can't predict anything What I can do is recognize behavior and then try to adjust what I do based on the behavior in a trader lab We have a trade and uh now it's not qualified in this condition But it can be used a couple different ways. Let me explain One this is called the ib failure. It's an actual structured trade. You can download their 60 pdf You can look at these things and think about Um, this is called the ib failure and it's a mean reversion trade. It's a short now in this context It is not a short. It is the what it is the context Gives you the indication once you're under this Distribution remember Too high too low retail Remember the globex eth Was a low volume node. Remember if it comes outside, it's an outside edge This is an outside edge here. This is the initial balance That was our 98 probability coming up and getting past performance on dick your future results. No way to know Hmm. Why not go here, right? When you think that would be reasonable Well life in the fast lane Who knows you break under here. It sets up the ibf two ways to use the ibf one is a short subject to your plan or step aside And let all the longs get flushed out and let it come outside for a Return to the ib that's two ways to use it for me and again you have to vet this for yourself It's not a short. It is a Opportunity to get long to come back Here and then whatever it does it does. So let's see Let's watch now. You're going to see some interesting stuff What was this? This was our last? Long or a buyer. Okay. This was our last so Watch Here this was a buyer. There you see him. Here's the test Okay buyer Resistance against this structure. You can see the symmetry, right and no clue if this is too high They do they dive I get my buyer. Okay. Looking good. Lewis and I got my stat. All right looking good. Hold here Come on hold here Come on Break below here. Oh no Raids over longs over and if you add it here At this outside edge You would take a stop That's life in the fast lane. It's no different than the casinos have overhead and cost of production. We take stops the same difference So here's what happens Too high. You don't know until hindsight too high Seller. Oh my goodness Now what do you want to do? Well? This is going to have stops above it. It's an outside edge Where's my edge on the other side? Let's watch I'm going to show you some interesting stuff So too high too high Too high this Okay seller Pull back. Where do I pull back? So this is too high This now is too high and I don't know, you know, this high volume is too high Which is created by this all this now because you can see the seller We rejected all this support. So this is all too high now for me. I can't take a short What I can do is take a long watch VWAP Right here Is a potential long Let me show it to you and we're and where do I have to clear? this 72 That and why would this be because this is where the volume was Where my seller showed up. So I know this volume here is my resistance So if I get a triggering structure and I'm looking for VWAP I'm looking for this area, but what happens This is always the mist the mystery and the magic And the stomach lining gets eaten a little bit. I see my seller And what did I show you earlier about stops? 42 stops coming out Coming to a location six and I see an iceberg. I see the liquidity coming up in the book I have my liquidity coming down. What do I want to see? I want to see behavior. Here's my volume Here's my buyer And it's like, uh That's exactly what goes on in my brain It's a long and now here's where you got to go Here to get scaled ahead of This it has to clear this and ultimately this is my target. Here's your test. Let's watch Where does it go 72 See Can you see why 72 was ahead of 72 actually So It tests 72 now. Let's watch what it does Comes back to the VWAP What do we get at the VWAP buyer test Micro structure outside edge. It's the same trade buyer So your volume is here So you have micro volume buyer Check you're in a micro structure with a tweezer and electron microscope You might not be able to activate but it's a suspect Volume buyer Remember where it was too low Here It holds it buyer and where do I got a scale? Where's that 72? Where was it too high? It was this right? And here here here Got it got a scale There's my volume. There's my scale. Let's watch Where does it come volume buyer Where am I trying to go? Let's go back and remember Here here Let's see don't know Where do we come outside edge? What was that? It was too high remember so right here. We got to clear this To get to that It's the same as getting long at an outside edge to get to the high volume If we only get out here And we don't know i'm looking for this But I also know I had to clear this the 72 right 71 I have to clear this to get to this to get to that. That's what I know. Well, what will it do? No idea Back to the volume back here buyer What do I got to clear does this look familiar? this So if you're trading this and i'm not recommending anybody do any of this I'm just showing you market mechanics You can develop a plan if you understand and you do the work because what i'm doing here is this is language So if think of a musical instrument or a Foreign language All i'm doing is interpreting the language of the participants Can you speak market and the difference between what I do and what indicators are you're just using an indicator to be a translator The difference is I can do this in multiple timeframes without using fixed time Indicators that are lagging so I can do this right here Or right there. I know what that is. What's my indicator going to tell me here Is it going to tell me to get short or is it going to be telling me to get long? What's I don't know what it's going to tell me is it going to tell me that this is important Or is it just going to cross over and I don't know what it's going to be So I haven't used them in so long. I can't read put this way I haven't used them in a long long long time This is what I know. I got to clear that you can see the volume This is what creates an auction. It was too high Seller now what's too low? It was there What's too high? It is there. So I got to clear this to go up to the next level Where do I come? V pock, this is a structured trade in the trader lab. Let's look at it So it's level trading is what it is. This is retail. Is it too low? And now what did I finally do? I took the stops at the view up. I took the stops at the mid 500 stops come out. Thanks for playing again gift basket You see these guys buying into the stops. Okay, that's what you might see now This is a location and I'm and by the way when it's doing this I have no clue I wish I did I don't why wouldn't it just keep going? You ask and I'm going to say I have no idea because I can't know what I know is what this means This and remember levels are not walls. There are areas of behavior So it comes down here if this is retail It's the same as the shoppers in the microstructure. That's too high. I'm not paying that. What about here? I'm not paying that same. You see what about here? I'm not paying that bad. This looks pretty good. Nope Nope Wait change Is that too low? I don't know. What about here? Nope too low Long against here Where was it too high? So Well, it was too high here Right, that's where your sellers were activated. It was too high here and it's too high there. Let's just watch Too high there. Where do we come back back here? Is this too low? No way to know by the way It looks like it's going to fall on its butt doesn't it? Well, I know that was too low and I know this is too low And right here. I see this and I'm looking for the long I get that and I'm going. I don't know there bingo If it fits your plan, it's a lot. Where's your resistance? Let's look here And then there right Watch Remember I'm trying to get to the ib wherever the heck that the here it is. See I'm trying to get here So that's is the trade now. Look how many shops. This is trading You know, and I have to tell you this is just what it is I if it was up to me, I'd put one trade on and go to breakfast But I don't control that I only control what I do and anyway, I hope you're getting something out of this And I apologize for the length of time Uh, you know that this is taken. Oh, look at us So we're going for this right That's your target ahead of there. So that's your target and then maybe continuation Don't know break check Too high. Where do we come? variable high volume node. This is a trader lab structured trade buyer pullback back to here And I haven't seen any of this but these are structured trades And where does it come see all this is structure. So this is a long There's your buyer. Here's your test. This is a vhvn, right? You've seen this all day today This is your scale It's coming back to check and this was too high The last place the sellers were activated. This is your next target here Seller and no clue by the way. I mean, you know, why not, right? Well, too high Any final questions? I've got about five minutes ish left And I thank you for your patience. This is what we do in the trader lab guys. It's really about understanding Market mechanics and attempting to stay in alignment Accepting it's random clueless Not your job to know relieve yourself of the wear and tear on your psyche of being able to predict How about knowing you don't know you're the only thing you can know for sure Is a probability of one thing happening over the other and you have to take one structured trade at a time Or set up as you think of them and reverse engineer them and know that this isn't based on the last trade or the last five trades It's based on the last 30 to 50 trades Is the only way you can determine if what you do has an edge or is just random behavior that has a negative Expectancy We've all done it where you see a big rotation. You put your favorite indicator or group of indicators on it You look back two months six weeks, whatever it is and you see how many times it would have worked How about that's what the gamblers do? They play their cards the same way, but they don't have an edge They do walk out with dollars. How many times have you had a profitable run? And then you end up giving it all back and losing it. Is that any different than what a gambler does? Get ahead give it back Get ahead give it back Lose their stakes. They're done and you get the coupon to the buffet. It's no different in our business Are you getting the coupon to the buffet? Are you sitting on the gambler side? Um, if you're waking up with trade or groundhog day Which means really that you're doing derivatives of a process that might have a negative Expectancy, then you might want to think about it and put that effort into doing something different Um, remember what einstein said, you know, what's a definition of insanity? It's just doing the same thing over and over again. Uh, I have to tell you I was insane for many years Uh and trading will do some other things to you. That's another conversation But the fact is you need to gain something Because you are going to class You are taking a course or a class every day in trading the key becomes can you learn? Are you going to keep paying tuition to repeat the class at some point? You need to acknowledge it might not be your intent It might be your process and it might be an unrealistic Expectation of what trading really is the trader lab Is built on an understanding of market mechanics how the market works why it does what it does And at times we can get in alignment with it with structured vetted trade plans That over time can give us a statistical edge and it's about building the business of trading The business of trading is knowing when you step up in the morning What is the potential and then when you see it because it shows up your job is to put the trade on Your confidence is derived from having statistics to tell you have x percent of probability to get risk neutral before taking a full stop That you have a probability with a certain trade management process Um to make an x amount of dollars over time You are going to take stops. You're going to get blown out You're going to all the things that happen to everyone else. You're not special It happens to all of us But casinos don't change the game because somebody walks out with a suitcase When a hundred thousand dollars in cash they keep playing the game the same way because they know losses As well as the buffet coupon the cocktails Comping the shows flying the high rollers in Comping hotel rooms is just overhead and cost of production and they still net dollars out why Because they have the discipline to only play games and in our world setups that have an edge If you're interested in that I invite you to visit the trader lab. It's a community of like-minded traders That come together to share their experiences They're very diverse Post screenshots share ideas and if you have ideas or you have questions This is what the trader lab is about and these are some of the pdfs you can download and these were done many years ago I'm not a vendor. It's not a course The book map discord trader lab is open to everyone. You don't have to be a book map subscriber You won't be solicited and there's a lot of additional education stocks options crypto Market maker behavior Algorithmic behavior and of course order flow to the max with a high tier to a like book map The more resources you can cobble together the more understanding you get and the more you can differentiate yourself from other retail traders Who are doing primarily the same thing you probably are doing now? Maybe you can actually make this into a long-term business And while I have to say past performance, this is not indicative of future results I think you might be able to make some progress on your journey and I invite you to visit the trader lab I hope you're getting something out of this. This by the way is the hierarchy. This is the trading process that I share Um in the trader lab. It's really how does the market work? That's what this is based on It's not based on your indicators. It's based on the participant behavior The volume profile is just a tool that lets us look inside price and volume Because ultimately it is shopping in all fractals and time frames. You guys think of time. I don't Because the behavior of the participants is not governed by the clock It is governed by their price discovery process the context What is our context? Well, it's up And now it changes from directional to rotational It can also reverse and get directional the other way and then get rotational coming back down It can do anything you see so what our goal is to attempt to stay in alignment and define it So it's a conditional statements When I built trading systems that when I wrote code and this isn't in stone age It was if this then that if not then what? And a conditional statement is like a branch a branch logic So if it does this then that if it doesn't then what if we have that Structured a chop chop chop and I break out to the upside and test it. So if This and it holds then that the test if it holds then what then north if I get that chop chop chop It breaks high I pull back to the volume and break low So if this then that I pull back and I go north if not then what I fall below I check from the other side It might be a short or get out of dodge. That's conditional statements So that's part of the process and building out Setups and then vetting them and seeing how they behave and now obviously there's more to it But I have to tell you most of us make trading complex and we think it's complex And we actually come into this business with a belief that it's so complex that we're going to find it's the right mix of timeframes and quote indicators and whatever else and Chat rooms and special levels and this and that and we make it very complicated And somehow that in the complexity will ferret out what others don't see And I want to suggest to you guys that if you're in the retail space Anything you've ever imagined has already been thought of by people who are a lot smarter than all of us We are competing against quants, you know, phd mathematicians Physicists and these are the guys that are in there working for hedge funds and the rest of it We can't compete against those we can't compete against the algos or the hfts We have to know where we are and we in the financial food chain And we have to differentiate our behavior from what our primary competitors are which are other retail traders annualite times We get the ride on the back of the higher time frame participants It's like being a flea on the butt of an elephant Really? So if you build out a process when the outsized configurations or moves come you will already be positioned and then the volatility and rotations expand But the primary process of participating is generic. Remember, it's fractal So whether you have a four point move or a three point move or a 30 point move If you come to the trader lab, you'll see my streams that are in the library Some of them are four hours long of real-time narration. The process is the same Once you understand market mechanics, you have the potential at least to to develop a business And then your jobs to show up every day manage your emotional state and lean on statistics that you've vetted because having statistics Gives you more control over managing your fear your emotions your fomo You'll know Just like the casino does that even though they lose that over time That the probabilities will play out as long as they don't change the game or make it up And that's what we need to do as traders Be consistent If we have a vetted edge One setup one structured trade at a time and you can execute and you've done the work over time Just like the casinos your edge will show up And you have the potential to have a career as a trader. I hope you got something out of the day If you're in youtube, please give a thumb up There's a link in the bottom of youtube if you're interested in visiting the trader lab say hi Take advantage of all the resources join a great community It's really great. And if you're in the trader lab, this stream is available Over the weekend and it's exclusive to bookmap discord trader lab Participants to have these streams available for review. Thanks again, please give a thumb up and subscribe to the channel if you want to receive notifications for other Streaming there's a lot going on in bookmap in the discord trader lab and in the general chat A lot of free information a lot of education and I think you you might benefit in your journey Thanks again for visiting guys, and I will look forward to seeing you next week