 Good morning traders and welcome to the live trading webinar today with Scott Pulsini. We do this every Thursday at 10 a.m Scotch a Scott is a professional futures trader day. He is gonna go through Thursday is live trading the way that he trades futures and We are lucky enough to be able to peek over his shoulder in the process This is a part of the bookmap education that you get It's all free come to our discord channel and learn learn from professionals like Scott like Jay trader like Tom B And then we also have our daily advanced webinars Monday Tuesday and Friday that go through reading the order flow in the live market Okay, but it's not about trading. It is about order flow reading and being able to apply that Let's go through you guys know who Scott is I have contact information if you want to reach out to him I'll put it into the chat got to go through the disclosures for just a second here And then we'll turn it right over to Scott and we're going to dive deep into what's happening in the markets The general disclosure all book map limited materials information and presentations are for educational purposes only and should not be considered specific investment advice nor recommendations live trading is in simulation demo paper trading mode and strictly for educational purposes live trading executed in simulation cannot accurately represent realistic trading performance Risk disclosure trading futures equities and digital currencies involve substantial risk of loss And it's not suitable for all investors an investor could potentially lose all or more than the initial investment Risk capital is money that can be lost without jeopardizing one's financial security nor lifestyle only risk capital should be used for Trading and only those with sufficient risk capital should consider trading past performance is not necessarily indicative of future results All right with that said Scott once you go ahead and Present your screen and take it over Yeah, my screen Yes All right, just watching these markets potentially sell off once again Did a little epic rally overnight, but Significant things are happening here. So first of all, this just came in and Russell. This is almost two times threshold my threshold for trainable icebergs to stop runs and Russell is 150 and you can see this was almost double that in 272 since this is sell ice so this will be a Meaningful area to trade. I was waiting for NASDAQ to retest. There was some major sell ice at the open Right here. I still think it'll retest But we're gonna just you have to be patient unless something new comes in you can see these just waves of sell ice coming in here at the open down here 140 148 78 140 100 and then So it's like almost a thousand sell ice between these two zones. It's a very large zone You know and it is what it is. Yeah, I don't like trading large zones either But you know you have to just adjust your size if you're gonna trade this setup and I you know if this comes back here I will my mouth is watering to get a retest failure of this zone So I mean I just have to basically I can basically put on a one lot You know if your count size is smaller than trade microbes You know if you have like a ten thousand dollar count Oh, you can really be trading on if you're risking this is to basically give me like 130 plus point risk trade Put on basically one micro, you know when I take these trades I'm just adapting to the volatility and the size of the zone, right? So the volatility is up to 40. This is the five-minute ATR It's up to 40 points And then the size of the zone because when I place my stops I do not place my stops based on what I want to lose. I base my stops on what the market Deems important area and that is an important area. So if I'm gonna stop out, I'm gonna stop out above this second zone so again, we'll Get to that if it retest it usually does so we will Keep an eye on that and then most recent stuff here is the Russell. Let's see what happens when we break out of this zone So that's step one step two is I'll check out the ATR ATA is 45 ticks Just move the decimal place here. I'm five minute ATR Step two step three is we need to figure out lugs look like Like wig levels I use you guys have heard this prior webinars very powerful, especially when you add them in with the real-time volume So you can see we're below the blue lug it didn't hold but we haven't Built new lugs yet. So I'm waiting. I'm just waiting for new lugs to be come in, you know, because many times Again, you guys can listen to that webinar I posted many times in here that I did with Pamela lovely one-on-one asking her questions You know, she said if the market You know Penetrates the blue or red lug and then gets back above it or back below it That's a very strong signal because it didn't have the conditions to build new lugs So I'm watching this closely to see if this pops back up here But basically this setup that I'm looking at right now Even if we build new lugs, I'm gonna need to see retest failure ATR retest failure to take the trade. Okay, so there's certain instances I take the trade aggressively And there's other instances I wait for retest failure. This would be one of them meaning We just determined that the ATR is 45 ticks So I need to see either way out of your 45 ticks retest failure 45 ticks Retest failure and then failure means 90% of an ATR. That's where I will initiate the trade. So Well, just that for that actually just got filled Gold short We'll go over the bigger picture stuff here, but this was a stopper and I don't have it on this computer It happened right before I started, but on my other computer you can see here See this was right around That was this around five o'clock My time so seven o'clock central so you can see the stop run here So I drew the zone there and I just basically drew the zone on my my other computer. So we're out there So that's this white zone here. So what I did is I This was above the yellow lugs. We'll just go over this quickly Why would I was kind of this is my conservative entry that I took here There are new lugs and in Russell as well. You can see in the yellow We're right on the yellow now So I was gonna wait for retest failure anyway now I'm really gonna wait to retest failure for that set up in Russell So Gold were above the yellow lug this thing is still bearish intermediate term You got one more above the yellow lug. I wait for a tear retest failure. So here's your full ATR ATR is 25 ticks. That's more than 25 ticks. Here's your retest. Here's your failure I got it 90% of an ATR And I'm sure come back to this currently short that my so my stop's gonna go 90% of an ATR above the top of the zone, right? So again, I do I stopped my trades out Where the market deems important not where I don't want to lose money More money. So the ATR is 25.4 So 22.86 of 23 ticks above this puts me in 96 is where I'll stop under the straight So I only put two on because I've got a risk basically over a hundred ticks 14 ticks of risk, right? But that you know, that's The way it is, you know, I would love for this on to be tiny and the ATR to be tiny and then I not risking much But most traders we talk about this every day every webinar every day in my room You know most traders want to put on their trade here and then put their stop right here because they don't want to lose A certain amount and the market does not care where how much you want to lose the market cares about important events This was the stop run. That's what the market cares about. So you would be Well-served to be putting your stops above these areas and make the market prove it can get back through here, right? So this came up here. Obviously this was buying, but it wasn't real buying It was guys puking and and you know if the big money wanted to push this thing higher They would have come in right behind and pushed it instead. This failed. So this is a classic dumb and dumber setup The money puke retail trader puke retest failure Short and you can bet that's where we're probably going probably on this webinar. So we'll see So short that I'm gonna be very very sad if we do not retest this and as eggs on because this is gonna be awesome short opportunity I didn't get it. I didn't take it aggressively out of here because we were above the yellow lug at the time And that's just my rules, but I may have cost myself So there could be certain instances where you say I'm taking that aggressively this could have been one of them We were right here, and we were busting into this Stop stop sell GC 207 contract, thank you So let's just do this real quick. So the worst-case scenario now I can trail my stop That was just 114 ticks away. Now I can trail it based on the new setup and I can add to this trade I was kind of bummed because I've been talking my room for days and how this market is gonna get killed and it always happens overnight So it did sell off, but then it snapped back So now this might be the real selling coming in here So we'll see even though this is a stop run. It's not real selling but yesterday. There was a bunch of sell ice Then there was nothing but pukes after that. So let's change this color So I use white and yellow for my stop run. So again ATR is up to 26.8. Again, this is like a dynamic way to Go your stops adjust your stops of 24.12 So I round up so 25 ticks above this cell now. I will stop out of this trade. So that's 95 So you see now this is basically gonna be a scratch trade If this comes back if it comes back it comes back, right? It just shows like if we're you know This is a bearish market. This is the opportunity for this was a puke The big money can come in and start pushing the slower if this just rejects Well, it's just not time for this thing to sell off and I'm out of my trade. You can see this from my entry I'll lose a few ticks. I'm out or I Can add to this I think let's see aggressively. I think we're below the yellow lug. No, we're right at the yellow lug We're right at V-wap as well. So I Need to see this below here any any status below the show a log I'll under aggressively meaning I'll get a 90% of an ATR. So for this one. I still have to see ATR retest failure. So ATR is 27.3 now. So I need to see 28 ticks Retest failure 90% of that I'll add to this trade stop goes in the same spot Right and then you know, you're gonna get days where you find a trending market where you keep getting set up after Set up after setup and you can trail your stop and add trail your stop and add And all of a sudden you got four five six positions on with no risk And if you catch a runner it makes your month make sure you're Hopefully this doesn't just pop straight back and stop me out That'd be cool to show you guys a runner Wait and see there Waiting for retest of that zone nothing else has come in I mean, I'll trade off of something new but nothing has come in. There's been absolutely nothing in the s so far Quiet as a church mouse And then here We did get an ATR below here ATR again was 47.2. We got 40 the bottom of the zone was 23 So we got more than 47 ticks below the zone. So if this retest fails, I'm in remember We built new lugs here. So I'm waiting for Retest of this zone and it could go all the way into the zone doesn't matter zone It doesn't always just retest the bottom I'll show you one that happened overnight that of course, they're absolutely perfect when I'm not awake, but You know retest failure I'll be in this So quickly this was the overnight perfect dumb and dumber. I got a couple guys that are in That tray here's your retest right now. So hold on one second. I'll show you the overnight so 49.3 is the current ATR 44.37 so 45 ticks below this zone now. That's 90% of an ATR. I will initiate a short. So this is 23 that's 83 78 so I'm talking about the last two digits here. So I won't miss you This is a zone this morning again I keep I'm gonna keep on this because I know this zone is gonna retest them as like especially for the size That was up here. I will both be almost bet that this retest and I'll short that I'll be short to markets to equity markets If I get full on this right so quickly last night And they don't get any better than this as far as So I leave this one running all night. Absolutely perfect when I'm sleeping So this was you can see this run up here. This is ES Stop run ATR definitely an ATR. This was over 20 points close to 20 points. Here's your perfect retest. Here's your failure That's how that's how they're supposed to work. So again when I'm sleeping there perfect I don't know if you like 50 point trades or not, but that would have been really nice. Well Middle of night to catch a 50 point trade. So that's what it looks like That's what we trade. This is it. This would have been the conservative entry as well Hey, Scott. I mean yes, sir, maybe Consider some some traders in in your in your trading room there to give give them your Cell phone and alert you When these things happen, I'm sure you'll love that but Yeah, well, exactly nonetheless. I mean, yeah. Yeah, I mean like, you know, that's a It's a big trade Yeah, I mean, I definitely would have sacrificed my sleep for that trade, but I mean I am I just turned 50 years old and I need my sleep if I wake up in the middle of the night and I like Even walking my office with the lit up screens It's like I try to go back to sleep and I just paid like it happened yesterday I got up and I woke up at like four or three 45 in the morning and I glanced came in here and glanced I went back to force myself to go back to sleep for an hour hour and a half and I woke up and I felt like So it's not really worth because you know that one trade. Yeah, it would have been great But then I'm just done for the rest of the day mentally. I'm like a brain fog midget. So all right. Here we go This is what I was waiting for Let's get this locked and loaded 43.6 is your current Nasdaq ATR 90% of that is 39 and a quarter. So So on retest I I will can I will take it as a retest if it gets went Most markets to ticks or Nasdaq two points. So we did not get within two points there I don't think the bottom of this zone was No, we didn't come close there eighty three seventy five. So we need a little higher for the retest You know, this turns around and sells off then that's the way it goes But this these are my rules, right? I don't chase trades I've watched thousands and thousands and thousands of these setups. I wait for the retest again It doesn't mean like you saw that yes one where it just touched the bottom one like that doesn't mean that's good It could retest all the way back in here But when it finally fails I'll get in because there's gonna be times where it retest the zone And then it just rips right through it, right? Like it'll just do this. That's why I wait for retest failure That's confirmation that the area is solid. I Forget to bring my waterboarding over here. So this is tick strike. This is a audio alert. It's a Again, I know I know and a lot of you guys are on these webinars every week But you got to remember there's a lot of new people coming in from you know in here and YouTube and everything else So I got to explain a lot of this stuff over and over and over so bear with me. This is just an audio Alert goes from one to fifteen fifteen being the highest And it's an algorithm that tells you the size of the orders coming in and the speed So it just helps you really determine when there's real trade going on And you can use it to you know when real trades going on or you can use it in important areas where you hear nothing going on Right so you can see the three equity markets that I'm following and then these are the main Obviously the highest way to stocks and NASDAQ and ES So it's really important to see what these are doing it. I liken it every day to waterboarding I've never been waterboarded, but I would assume that's how it feels because It's great when you have a position that I'm going in your favor, but there's your retest by the way But when you you have a position going against you you have to watch it and then you have to hear it It's not fun. So I have forty forty six point seven nines and now the new ATR forty two point one so forty two and a quarter ticks out of here I will show at this market and obviously the most I can trade is a one lot Because of the risk I have to take here so forty points is forty three fifty One fifty forty one quarter is where I will short this I get in there before the market gets down there That was a quick pop back One second here I'm gonna put these in my other counts. All right, that was fast That's what you call retest value right there All right, and and the good news is I didn't get filled with the tick So that's that's positive right there is it because I usually get like if this turns out to be loser It's like I'll fill the exact price and then it'll turn around and obviously you'd be better If I don't get filled if it turns around so now I can't complain about that at least this time It happens five times a day every day. So get ready for a couple of them So what I'm gonna do here is because all we've talked about this I said just came in Actually, let me make sure did I get filled on Russell here. All right, so Let's get this in here quickly 53.3 is the ATR now in Russell 47.97. So 48 ticks above here. That's where I will stop out of this trade What's me at this is 51 99 so we got that on Awesome now, I just got to be sure to yes So what could possibly go wrong being short all these markets because they never do bungee jump nonsense Straight up moves like yesterday out of the middle of nowhere. I got stopped out of that one I was shorted and yes, but I got back in and made it back But still it was like literally like three times of volume in the middle of the day out of nowhere And I still think it was a new story, but it never came across All right. Oh, yeah, let's go so the stop Natural gas numbers come out five minutes also So back to this quickly This was all the cell ice, right? So the first band was this 145 and I drew this zone here and then it came in everything all this came in after So like we went over this was like 700 800 in this zone So Because this was the bulk of the size in this zone I'm going to put my stop above the top of this zone Which will also put me outside of this but it's going to save me like 30 plus points If I were to do it above this an ATR above this zone See what I'm saying So this one was only that one 145 I mean you could put it 35 points above there, but I'm just going to go 35 points above this I mean an ATR above this one instead of this one because this was the bulk of the size that came in And again as you as you learn this you can start to make tweaks on where you want to place your stops You just got to make sure it's out of the area Not because you don't want to lose money Or your neck money or whatever 41.44 is the ATR so I gotta go 41 and a half Points above here That puts me at 88 89 So basically right outside that zone the top of that other zone. This is my one guy And it is what it is right like I'd love to have four contracts on here But I can't you cannot risk that based on account size You've got to trade according to what you can Again, we have this risk calculator in my trade room to probably find it online. That's not it. That's the ATR Again, I show this stuff every time but you know for instance So this is ATR is 90 and I'm risking another The size of the zone is another so then that's another What is this 87? I'm sorry. So the size of the zone is about 70 points, right? Then I'm risking 46 to get in 46. That's like 160 points of risk, right? But that's what the volatility is telling me and so I know this could be a two 300 point move if I'm right You can see here the most I'm at already at a two lot risk in like 80 points once I get over 85 points of risk over 84 Three quarters. I got a all I can trade is one Right and then there's a point where you can't trade any like for instance if you're risking 100 points in the Yes, you can't put the trade on You plug in your account value Up here You risk one and a half to two percent of your trade and it tells you what you can risk if you're trading Micro's so you got a 12,700 dollar account that you can put on $250 of risk on your tray And then you just make these micro's you don't change anything because you're it just be 10 percent, right? Just like you're making 10 percent of that so Again, I go over that every week. So if you're confused just throw it in the room. I'm sure boys can answer it All right, so let's find some spots where we make it out of this you know, it sucks that This is another problem that guys have that they won't trade micro's for some reason they they feel like that's just not You know Sufficient or whatever like their pride gets in the way of trading there's another round trading micro's especially if you're You know trying to learn how to manage multiple positions. So for instance, I only have one on here in azdeck That means it's I'm one and I'm all all or nothing, right? If you have micro's on if I had 10 micro's on which is equivalent to one azdeck I can be getting out at certain areas like this isn't a bad area to cover some right. I got a quick move down This is one one and a half standard deviation of vwap, right? Here's vwap Here's one standard deviation, which they call daily value area. Here's one and a half. That's not a bad area You can see this is bounced off the two twice. So when this comes down here I'd love to piece out of some of them, but I only have one on so that's why you put on micro's So I don't have micro set up. That's why I didn't do that, but I'm just saying for you guys So here's another important area. So I got to make a decision here When we get to the bottom of this market profile if I'm going to bail on this because that's also confluent You see that right there at 1306 325 that's also confluent with two standard deviation So I want to determine if it's going to bust through there But if it struggles at all, I'm I'm going to get out of this trade right because I'm already short nasdeck And here's another I mean now rustle. There's another thing you want to watch is relative line So when you get to two You know one and a half two two and a half or more standard deviation of vwap There are so many algos that kick in reversing in the mean So you want to be ready unless there's big size coming in big money To keep pushing this down lower This is going to snap back like it did here like it did here like it did here, right? So I'm going to get out here Real like now if this doesn't just plow right through here and you got spot gamelos down there too So I'll just take my quick profit and get out. I'll give it a chance And see we're right here All right, let's see if we can All right, I'm out of that. I'll take that run Oh my accounts, of course I'm losing money because I can't get Not fast enough. Okay. All right, so that's fine So once again if I had multiple positions on I wouldn't have to get out of everything here because this thing could keep motoring down We are below the yellow lug mount. So the main objective here is blue lug So if we got down a blue lug I get out of everything I had right But if I have multiple positions on I get out of one here Confluent with these two things right or a couple half and then let some ride But I only had one on so it's one and done. That's another that's one of the main benefits of trading micros. You can trade multiple positions All right, so let's check out our I'm just happy that I mean look you guys it doesn't get any better that look at that I mean it that is an exact I was sitting here for an hour waiting for this retest Perfect just like the yes There's a reason that happens Right the markets come back to areas where traders get smushed. So all these buyers in here We're all aggressive like yeah, we're going to get our get our bungee jump that we get every single time Right. Bye. Bye. Bye. Bye. Oh, no, you run into a mouth full of cell ice When this when this comes back to this area these traders that were able to hold on and hold their breath And pray when it comes back they are peeling out of their trades and that causes the next wave down That's the whole premise behind retest failure. And again, it's not a hypothetical thing This is exactly what happens because I know because when I was the big trader when I had Thousands of contracts on again It was never this far in my face because I would be blowing out my firm But you know an ES back then if I had if it was like three or four points in my face I'd be holding my breath like praying that it will come back to the area So I can and I would literally say god, please god I promise I won't be greedy here. I you know say i'm long right say I was the one that ran into this You know and i'm long and it does this i'm like please when it comes back I'll just get out. I won't I won't try for a profit. I'll get out And then that's that and that's why all my setups are real life things They're not hypothetical nonsense like some of these i'm doing air quotes educators are out there They're just guessing on what's happening, right? All right, so we still have this on Let's see where we can get I do have multiple of these on so we could piece out. Let's see Not piece out like the peace sign Funny i'm not even getting any chocolates from bruce today Yeah, there was an eye roll instead. That's pretty bad. Yeah piece out All right, so you can see where this is a hugging This we call this a hugger when it it did reject So you got to be careful, right? Like this is rejecting, but it keeps going lower lower lower, so I could get out of one here the problem is I don't have any Let's just check out our All right, I just got uh, I just scratched the gold trade This little donkey couldn't go for me. So again Tiny tiny loss and I based it off the new setup But I put myself in position if this would have held get going I would add it added add it And it could have been big. There's still maybe opportunities there, but I'm out for now Um, so let's just see where we're at here bigger picture This thing's a major major major trouble All these all these markets are just from I know fundamentally everyone's saying it, but just technically too, right? This is a massive fail breakout of many months multiple months Tried to hold i buying note here had another fail breakout of this little dude, and then it's just bye-bye So yeah, so you had zero so I'm gonna get out of one here just because the volume is not very good Relative volume you can see here, and I'm just waiting for a snap back right here This is showing me that we're just barely over a hundred percent. Actually, let's make sure that's accurate This thing yeah, so that's not great. So I'm gonna get out of one just fine All right, this keeps going. I'm still happy if it snaps back then I'm not beside myself that I wasn't smart I'm getting out at Two standard deviation of eweb when I know algos snap it back all the time. That's what they're there for This is the big winner by the way because I forgot to put it on my other account. So If you're short nasa or short russell congratulations Still nothing in a yes much sucks And you can probably expect a little bunch of jump after these guys get their fills I would think right It's been in here forever remember liquidity that the longer it's been in there the more of a magnet it is and the other thing too yesterday It's so funny where this went. I put in the room. This was I'm gonna see if I can find it here just to show you guys how how What a magnet this here we go right here I was short yesterday and I said my exact words lick liquidity above worries me. That was all this. So you ready There you go. Whoa, look at that Look, look at where do we stop overnight? Huh once they get their fills then we can sell off Let's take a little peek Just to show you guys how rigged these markets really are And again, you consider all day long and say this is rigged. It's manipulated blah blah blah blah blah That's fine. That's not going to make you money if you can't beat them. Join them. Look at this. This is exact area Look at this Liquidity got their fills. Bye. Bye Guys, it's all a game and if you if you don't believe that then you're In the wrong business. It's a game and it's if you can figure out what they're doing then you can join them That's it. All right, let's see what's going on. I'm trying to avoid trading this Piglet I just this thing is just absolutely eating my lunch lately because you know, you get in a trade and then there's Every single time there's some kind of headline. So let's see. This was a big stop run Yes, I cyced for pi nt 151 tom frat. I will trade net gas. So that thing has just been incredible So I can tell you guys every week You should be have other markets or wash them instead of just Yes, thank you or just a lot of you guys are just staring at yes, which is ridiculous Like why would you force yourself to trade that thing? Most days, right? It's like when it when it's not rolling around and good-sized trading Move another market. All right. So that was the stop run. This was 138. It's all ice. I'm not going to mark that That's not threshold So we'll see what happens here on this This is the stop run. So this is what I'm talking about, right? So This was buy stops Not real buying guys puking. Guess what someone came in and continued to push this higher That's the big money that kept it going. So we saw an es earlier Buy stops. No, no real big money Death this one big money pushed it, right? So now I'll play that retest failure 151 contrast I possibly could have been in this long aggressively because I got to look at my lugs But either way if it retest fails, I'll be I'll go along Um, so now we got a new setup here, right? That was a good cover one of them That's only 100. That's 181. That's threshold. Now we can draw a new zone We can trail the stop or we can add to the trade Just see if I should incorporate whether this this buy ice is in this sell ice zone. So It's even better, right as far as The icebergs are committed traders, right guys are buying It's someone big is hiding orders That's what icebergs are hidden orders and they're absorbing their orders. So this that's why this is important This area is important because there are committed traders in here and when it moves out of here You're going to get a bigger move So now what I can do is Check my atr 54.3 Take 90 of that 48.87 so 49 so 49 ticks Above here puts me at 02 or not 02 but I mean it is 02 the last two digits, right? So I can put my stop here. So watch this 1870.0.2 So now I can trail this thing all the way down here And what I can do is add to this, right? So 48. I know we're below the yellow lug, right? Because we build new gloves I'll show you here again in a second Make sure I got this right. Yeah So 49 ticks below here bottom of this zone is 17 So that 50 ticks equal it gives me 67 so 68 I think that's right No, no problems with math lately So I will add to that trade And then I'll put the stop in the same spot if I get filled, right? So let's just check I know where I know we're below the yellow lug because we don't know loves like I said So if I get filled on this I'm looking at baby lug Which are these smaller ones? Maybe get out of a couple Not maybe I will especially because that would be like four standard deviations for VWAP and then blue lug is my ultimate destination All right. I've been talking a lot. Any questions Bruce? Yes Bert was wondering about do you always scale out? When you hit a consolidation or one of the standard deviation areas Um Most times I'll do it Well extreme. Yeah, because Unless I see like I was showing you a relative I am I see have your relative. I am then I'll try to hold onto it Yeah, so when you develop your trading plan, which you all need to be doing You just have said like just okay If you were if you were programming algorithm, what would you do? You've got to put in your variables and what and your instructions on what to do, right? And then the elbow just runs so the elbow doesn't say one time when it comes down here You know, so the instructions are to get out at at standard deviation Say relative I am has to be less than one something like that, right? So the elbow doesn't You know one time get out another time hold on and say, yeah, I'll hope and hope hope this goes great So you you can do whatever you want whatever areas you deem important Fine, but you have to do it every single time we talk. I talk about this all the time, right? So yes, I am a lot of time you're getting extreme here. This does look like it's a hugger But the volume isn't great. So at any moment this thing can do that, right? And it's not going to surprise me one bit. So yes, I will get out So say this comes back down So if this comes back and test again, will I get out? No, because I'm going to be we got a new setup there anyway so, you know It gives me more confidence because now I have a new setup Now I'm just trailing my stock based on this new setup, right? So before my my stop was like up here Or there wasn't a zone, but that was my stop. So I that would worry me that we've ripped up here But now I don't have to worry about like getting out Because because my stops so so much closer. You see what I'm saying So on the last two that I am on and then I'm potentially going to add to this So it is risky adding the trades at negative two and a half standard deviation or two This is again one one and a half two that is very risky, but There's a setup here. So I'm not risking that much. I'm putting on this trade, right? That's that's the beauty of your real-time volume setups. If you're just trading that Staring at this chart. Well, where where's your stop going to go? You say I'm going to stop above the yellow lugs. So you have lovely levels Okay, that's still a lot of risk, right? Or like where are you going to put your stop? Well, you know, there's a real volume setup here that you can it shouldn't get above there If this is going to remain bearish at least short term so for the Every time I've ever been on here This is the biggest edge you can possibly have in futures trading by far bar none Without a doubt in my 24 years of trading. I've never seen a better edge because this is showing you This is what drives the market. It's not price price does not drive the market Volume drives the market. So I don't care if you've got Here we go with the ranch you guys have all heard before, right? The we've got the 200 day moving average crop at the 50 of the 200 Okay, great. Yeah, is that important sometimes when is it important? It's important when real money is trading in those areas. That's when it's important, right? So I don't care where we're at if I'm not seeing real-time volume You know agreeing or disagreeing then it's not important to me, right? So that's There's no bigger edge guys. I'm telling you I've been saying and since the second I saw this thing Like that you guys heard the story as well. I when I got back in the business, you know, I got knocked out 2013 I spent seven seven years trying to reinvent my style after being a million-dollar trader and Basically going to zero because I couldn't make money because the elbows were killing me I had to get out of the business for four years when dr. Brett steambarger Who wrote the book enhancing trader performance and many other ones probably a top trading psychologist in the world now? He called me on the phone and said hey You want to check out this new pro and this was before the si indicator by the way He's like you want to check out this new Software called book map is like it reminds me of what you used to do how you used to view the market You need to talk about this stuff and the liquidity and everything else and I because he sat behind you for a full year because when he wrote his book He wanted to see how I made the millions of dollars He wanted to see what made me tick right and you guys can read the book and throughout that entire book on the afterward You can see that's all documented What I did and back then right so He told me about this so the minute I saw it I'm like I'm back like this is what I needed to see so But I was so jaded from futures trading and especially this Donkey I hated the yes. I still don't like it very much, but I've been actually doing very well on it lately I I'm like I'm not trading futures. So if I'm coming back. I'm going to trade stocks. So I train out of trade stocks through smb They're all over the internet. You guys heard them. They're the real deal So I learned I learned how to trade stocks and I was all ready to trade stocks and then This came out and Bruce Bruce kept telling me about it for like literally like four months So you got to check this out. You got to check out the cme mbo data We got this thing that reads this is an ants data. It's showing us we're stopped 100 accuracy stop runs icebergs and I'm like, yeah, okay Yeah, okay like literally for four months. He was telling me and then They finally got it were you know set up and then I started to watch it and I'm like This is the most powerful thing I have ever seen in my entire life And to this day that was three years ago. This is still the most powerful thing I've ever seen in my life in futures trading. So a little rant, but You know I don't put it this way. I don't know when I say it all the time as well I don't know how traders make money or how they do how they trade just trading off of this stuff Like yeah, this is easy to see but it's not it's not easy It's easy to see after the fact and you can see fail breakouts and you know fail breakouts, but It doesn't give you that zoomed in look of the real-time volume to really control your risk and understand what areas are important What areas aren't etc. Etc. So that's I can't say enough guys and girls like this is it. This is the this is it There's no bigger edge in trading than this stuff. So Our next question Bruce. Yeah, I mean I know it's a it's a really good point here and Now that the stops in icebergs In this mbo data is becoming more known and used However, let's just stop for a moment and back up and consider That's amazing transparency. We've never had access as retail traders to anything close to that So, you know The there's a tendency for I really like hearing this Scott that I mean you believe in it and you're still following it The reason being is that I think a lot of retail traders when they first Come across something it's like wow. It's all exciting. It's great. This is amazing transparency, whatever and then They move on to the next thing After that, I mean like You know though and and if if a mac d, you know a mac d crossover was the next thing That's what they would move toward Even though it has a lot less transparency And a lot less traders don't make money because they're always trying to find just the perfect thing that there's no risk Yeah, there's risk with anything Exactly because it's Marcus any anybody It's in trading in the zone. It's a perfect example How you know anything can happen at any time it doesn't you know Yeah, these these setups are the strongest thing that you're ever going to see But that doesn't mean if if Saudi Arabia comes out right now and says you know say we're say we're along here And says we're gonna we're gonna flood the market with production. Well, guess what? This is out the window right so that can happen at any time But you have to accept that risk, but the majority of the time The markets will trade normal and respect the areas and that's where you make your money But anything can happen at any time But traders are always Consistently again, this isn't trader trading in the zone as well. They're they're trying to find something that is Risked so they don't have to risk. So it's just like the the magical formula There is no magical formula. This is the most magical you're going to get and I will go against Anybody in the world that tells me otherwise I mean besides, you know huge firms that can just push the market where they want right and that's the magical formula The magical format when you have enough size just to push the market like we saw the manipulation the s overnight things like that Right, but other than that for the retail trader, you're not going to get anything I don't care. I'll put this up against any you tell any of your trade room guys I will go head to head for them. I'll I'll we'll do like a three month challenge or whatever again You know, there's there's variability there where any given day you can you have have a drawback or draw down or whatever I'll go against anybody had to add anybody So you tell them to bring it and we'll make it we'll make it a little competition And so you'll makes more money based on what they're doing and based on what I'm doing That's how that's how I guys I've been doing this for 24 years. I've been watching these for three years Thousands and thousands of setups like I don't know unless means unless you want me to slap you in the face I don't know how else to get it All right, I'm doing a lot of ranting all of a sudden first. I yeah, I'm waiting. I was waiting for it So, uh, yes, we do have other questions in here, uh, and uh, uh, Is one of the questions why does why does go give you the middle finger continuously? Is that one of the questions? No, but I I do like you were referring to all sorts of like farm animals today like pigs and donkeys and etc Uh, that just helps me like a process mentally You should hear me when I'm by myself. They're not such the words are not that nice Let's see here Let's see the the black parallel lines How are they determined? Like and maybe your color coding, you know, like the yellow lines that you have there are black lines that you're showing So I'm just I'm just trying to make these so you know what the setups are including me So, you know, this was majority of this was so that the threshold Again, Russell my threshold meaning The amount of volume I need to see in the in these setups has got to be over 150 in Russell, right? 150 means nothing and yes, it means everything in Russell Again, I've determined this by watching thousands of these setups. That's what my SA indicator course goes over These setups and the thresholds for each market. I think they've got like 24 markets on there So what I just color coded so the the cell eyes is black By eyes, so there was by ice here earlier. You can see it up here I try to make the same color as this even on color line. I think that's close enough Then I try to use yellow and white Mostly yellow for stop runs, but if I have multiple of them like this like in gold then out Then I'll make one white one one yellow, right? So that's it and then I draw the zone based on the price action within this spike And that's it That's not trust me. It's not technical. Okay As far as what I'm doing here And let's see Ken Muhammad's asking about do you look at different? What do you look at delta volume divergences as well? Yeah, but you got to be very careful, right? So We look at that in the room And I think you're referring to this right the cumulative volume. Yeah, I believe I believe so. Yeah, right So, you know a lot of trade you've got to be very very very careful using this, right? So let's see if we can find an example It's good to watch and there's many instances where it's spot on but there's other instances where Fine. So actually, let's let's take a look at IQ today. I'm sure this is a good example, right? So this was It's not it's not as distinct as I thought I was going to be so when we came up here This is where you have to be careful, right? So say you're like, oh, yeah, I want to be long say this cumulative delta is moving up All this is showing you guys is who the aggressor is in the market. That's it meaning cumulative delta goes up that means There's more taking of bids than selling of offers the aggressive taking of bids than selling of offers, right? So when we came up here earlier Pre-market or right at the open These The cumulative delta is actually not really showing on that. That's why I was surprised but these this is a sell ice So guys were aggressively taking offers, right? They were buying offers buying offers buying offers That's what cumulative delta shows you The problem with just playing cumulative delta on its own is yeah, there were aggressive buyers How did that work out because they ran into 900 sell ice, right? So those were icebergs Concentrated icebergs that were absorbing those aggressive buyers. That is important to know So cumulative volume does not tell you the whole picture You want to know? Hey, are there aggressive buyers and there's but there's no sell ice. That's good to know, right? And so cbd is going up or cbd cumulative volume cumulative delta is going up and there's no sell ice And yeah, I mean the aggressors are they're keep buying they keep buying they keep buying But if this thing's going up and it's actually running into a wall of sell ice, that's something you want to know, right? Especially if it fails. So like I said, I'm surprised at the open here I mean it went up a little bit So here right here. It's actually make this a little bit. So it did go up a little bit, right? So this is where you could have been in trouble. You you could have been sitting here And you see this move up. You're like, yeah, cumulative delta is moving with it. They're buying it. Yeah, I'm long You had no idea that they ran into a thousand icebergs sell ice concentrate size There's probably one house say the truth one big entity and Oh, no Because when this fails guess what that is that's the puke, right? That's guys getting out of their aggressive buy Usually it's a lot more pronounced than this but so yes, I will keep an eye on it It's really so where you want to use this and pay attention to it as it is in very at very important areas, right? So Say for instance, you don't you know, you don't have level levels. That's obviously very important area So you don't have this say you're just looking at this, right? Say the market comes up here one time touches this Does this comes back touches it again and then in this picture you see That's the first wave And then the second wave is like that and say we go a little higher and the second wave is like that Well, that's a delta divergence, right? That means we came up made a new high in the market And there were actually aggressive sellers. That's where you want to pay attention to it, right? That's where you can say, okay, something's up here The buyers are not winning per se the buyers aren't they I shouldn't say they're not winning They're not Somebody that keeps hammering this market and we're an important area. I'm going to give that a chance on the short That's you know barring. You don't have book map, right? That that's where you can use that But you've got to be very careful And understand Aggressive buying maybe running into it's going to show as positive But it could be running into sell ice then that's the most important because that's who runs the market are the big players I hope I explain. Yeah, I mean I I actually have ranted on this quite a bit in the past And it's well put scott. Um, who's taking the other side of the trade? Um, what is what is the what is the indicator actually showing you? And what is it not showing you? And and that's what you're covering there because without that kind of context you You might be getting the wrong inputs or the wrong kind of Information there from the from the indicator So the context is super super important So we've got a few more questions in here scott and first off a corwin. Welcome. Good to have you in here And see adrian's asking Seen yesterday on the es 2000 icebergs On the sub chart And immediate 100 executed 1900 cancelled I can answer this. Um, never mind adrian. Um, uh on that I'll answer that in the chat. Um, the um Uh, let's see And other questions here in discord Do you only mark iceberg thresholds and consider them for entering? Or stops as well Uh, you're you're you're marking up both. Uh, so any any sort of, um, oh, yeah, I I sort of stops. Yeah Vladislav it's it's more about, um, uh, these Meeting his thresholds icebergs and stops Okay, so so basically if I can recap, I mean scott's looking for something significant from the stops and for the icebergs It's not a signal It is an alert to pay attention to those areas and then put the context of higher time frames Uh And other things, uh, all all together Uh, I think that's it. I think we're all caught up I'm just drawing this in that mac gas. There was uh, you can see these two spikes You can see this iceberg on chart. This is one house this white line But you can see this was 152 and then you had another 106 so between these these two icebergs that was 250 fish And you had a little bit more here. All right, here we go with the waterboarding So this sort of talking about right so this rustle might have already been stopped out It's pretty close. It's coming back. So it's like I have to watch this thing come all the way back And then I have to hear it. It really grates on you after a while. I mean, I still love the thing Don't get me wrong Because you know, especially like if I'm not if I'm not staring at a market Then like I can hear hey crew they're buying that got a crewed or, you know, like that 154 conference. Do you see the control I have over the market Bruce? Do you see that? So they literally did that just to show you guys right when I said that isn't that amazing Did you see this thing light up by the way? Um, so if you're not watching that was a joke If you're not watching the market it lets you know hey something's firing off in there So this is 156 my threshold here is 150, but I just I got to see some serious size in this market to trade it right now I'm just so sick of throwing away money in this market with the headlines and stuff So I'm just going to let this one go I was going to possibly trade this on a retest failure the stop and hold But it never it never retested. So this was a stop and hold And here's a stop run that's that And I was going to take a retest failure and it just never didn't know So you see how this is firing off now you can definitely see it obviously on book map But it's good to hear because if you're not staring at the thing you have no idea unless one of your alerts are firing off Hey, look, we're headed to let's let's this is 22 I think this is the same house look at this So they had it up here. They're like, you know what? I don't think it's going to get there. Let's let's move it down here And guess who's pushing this into it? I wonder if this is the same same house or same big trader that has this offer in here That is buying buying buying buying guys. This is the game. I used to play. That's why I know what's happening Right. I used to load up in the es Thousand talked about this before too. I know but it's just good to see Thousand thousand thousand right so then the market would be down here and I start buying a little bit just Just to see how the market would react, right? I buy like 100 Another hundred and it would just go and I'd be like, oh, okay I guess no one's willing to sell then I buy another hundred another hundred then when we get close to my order I would just step on the gas. I'd buy like I'd buy like 300 400 500 300 and Traders would see that right because you could see the transactions obviously the back then you didn't have book map I could imagine what I would have made back then if I had book map but They see the the flurry of activity and they jump on they're like, oh look big money's buying I'm going to jump on and then they jump on my coattails. It runs right into my offer I get filled on my 2000 done then it's rinse wash repeat just all day every day That's how I average $50,000 a day for every trading day of 2003 that you can do the math that Has up to 10 million dollars. That's what I made in 2003 playing this exact game all day every day So that's what I'm telling you when I'm telling you about these setups what's happening in the market I know because I used to play the game So the one thing so if you are see You're long and you're watching this just be careful as it gets closer Many times you have these elbows front elbow front runners that pick up the size when it gets close And they'll turn around and push it away from the the size Because they expect the size to chase it, right? So for instance, if you were just to drop someone comes in and drops a 500 lot offer And the market's going to run away because they're trying to get this 500 lot to chase it down And then the the guy finally gets filled then it'll come back, right? So my point is this will still get filled don't get me wrong But you may get tortured say if you're long right now It'll come like right here the elbows will pick up the size and they'll run it away like 80 ticks You're like damn it, right? And then it'll eventually it'll get filled eventually But just be aware of that if you are playing to liquidity Don't mess around if it gets close You know within a few ticks it starts to run away. Just get out. Don't expect to fill every time Here comes the waterboarding too. This is perfect. Awesome At least I got other NASDAQ All right, it's still not it's still not filled on this but Looking like it All right, so I'm not going to trade that Include that setup. So we'll just wait for another one there I'm sure I missed a trade here looks like See if I would have been short aggressively No, so I would not have been in this trade yet because why because the way I trade these For above the L log I wait so there's a setup I wait for ATR retest failure And obviously we did not get a retest of that yet The keyword is yet and I will be willing to bet especially if that's especially if nothing new comes in Especially if nothing new comes in why can't I find my there it is Meaning another setup This will come back and retest this area once again because there's caught traders there and you know It's just somehow some way it always comes back. Then they they could fell and then it goes Or it could just do that. But that's the usual tendency. So anyway, I would not be short this aggressively I will wait for this this this then I'll go short aggressively And I'm telling you this is one of the markets I usually say crude gold Sway beans crude and gold have been an absolute like I said, you know, like you saw in gold today It's just a complete whipsaw all day every day and then crude's all headlines all the time I know there's been headlines and natural gas too But I'm telling you this is the most algorid and I mean look at look at this look at this chart You tell me this isn't all algos when you look at a chart and book map and it looks like a Christmas tree Then you know, it's just algorid and most people would say. Well, yeah, well, I don't want to play in that But you do because the algos worst nightmare is the big money, right? So when the big the setups work probably the best in this market granted So say I go short, you're going to go through this for about three hours most times So just be prepared you're going to go on a on a ride Because these algos are going to whip it back and forth But they whip it back and forth in meaningless areas This is why guys you don't want to be putting your stop in meaningless areas because you will get stopped out That's why if you were short this setup For some reason and you took it on your own You need to be putting your stop here not I get short here and I only I only rest 30 ticks Guess what this is going to do that all day. This is what the algos are in there for That's why they're 90 of the market because they take your money So anyway the point is this thing Algorid and like crazy, but it Once the big money comes in it they just get run they turn them off It's and you get huge runs like minimal risk your risk like 60 ticks to make 300 and I'm talking like in 10 minutes. It's it's been an awesome trade. So I highly recommend you Watch that market here comes more waterboarding awesome Yeah Again big deal if I could stop I could stop I was able to travel my stop based on this new setup, right? And I'm going to scratch this trade too because this is what trading is It's like The whole goal of trading is to try to find that big that big run, right? So it's like you put on a trade to make a little put on a trade lose a little make a little And then you have that trade like that potential go trade where it's like set up add set up add Trail your stop trail your stop add add add and then you have a month making your making day That's how the majority of professional traders the bulk of their Of their profits slash income are only contained within maybe five to ten days of the entire trading year Right because that's what trading is. It's not this consistent. That's another fallacy read reminisces of a stock operator Written a hundred years ago. He talks about it back then where traders think that this is like a normal job Where they're going to generate a consistent income every day. It's not going to Happen you may get lucky for a week or a month. You're not going to have a consistent five and I see this all the time in the internet Well, I can average five hundred dollars a day or I can make five hundred dollars a day that I can quit my job That's great, but it's not gonna you're not going to average five You're not you can average five hundred dollars a day Meaning you can make fifty lose fifty make a hundred lose a hundred and then you're going to have a $2,000 day and then you're going to lose a little make a little and then when you average it out over a year Yeah, it'll average out to five hundred dollars a day But if you think you're going to come on these markets and make a consistent five hundred dollars a day every single day Find a new profession. I just got stopped out of this and it was fun to be waterboarded So see that so I was able to does it suck? I got stopped out. Yeah, we got out of one earlier The rest I let ride and then I trailed my stop because of the new setup This is actually now a bullish setup So I can actually take retest failure On this on this to go along. Actually I may have missed it here. Let's see Please don't tell me this was a full ATR. Of course it was ATR is 54.7 so 55 ticks The bottom of the zone was 53 So that was 08 Do we touch 08 before we retest it pretty close? The ATR was probably actually that was probably a little less Because before this big move that that made the ATR increase so I probably would have been long in this setup I'll tell you for sure. Let's see So I can complain for the rest of the webinar 803 ATR 803 805 time period I'm sorry eight o'clock time period was 53 Now I wouldn't have been that was not a full ATR. It was close. So at least I can't complain about that All right, so I'm out of that. I'm shocked. There has not been one setup in uh, yes today shocked This is what I'm talking about If there's nothing going on in your market that you stare at all day Then you need to have a three to five other markets that you keep an eye on So you're not forcing trades when nothing's happening Right like yesterday's my afternoon webinar. We basically sat there and watched patreon nothing happened like Nothing we just sat there and I complained how bad it was and then we wrapped up the webinar That's how it is sometimes in this business This is interesting though here. This is kind of the elbow from when I was talking about so that this got their first fill Tried elbow picked up all this size and said no, we're going to run it away from you But just remember this is here I'll bet you we come back and fill it That's on point today So I just want to take a look at what this real-time spot gamma hero is looking like This is interesting too. So I show this in the room I'm going to really start paying attention this to put on some longer term options Maybe not longer term like a couple weeks out So tesla was on here the other day and that's on here again. So negative 4400 million Delta today the other day. It was like 200 And we got this look so The one thing I showed my room a couple weeks ago This actually showed you In a second so the other day On this move This was like minus two I think it's like I had a screenshot, but it's like 250 million Then we did that And now today you have another 400 million. Yeah, the markets are green with it But so meaning it's like this is why we're dropping because of the options most likely, but this set up This is the first time I saw it that I started paying attention to it. This was a couple weeks ago with this PayPal It was really interesting. It was right here. So this was this day right here, right? And I was like negative 150 million delta and I'm like, okay, that's interesting We keep an eye on this and then for the next few days it did this and then it finally went like this Look at that. That's 40 points 35 points of Like it was kind of it was kind of forewarned right like you saw And we were down a little bit that day But why I also liked it and I'm like this is why I'm going to keep track of it because Structure-wise this looked like it was going to do what it did But then you get the options info to To kind of confirm it you got that so Tesla's doing the same thing. It's kind of happening as it's coming in But so anyway, I'll keep an eye on this for the spy and the spx. So let's look at the spx here Because you want to if you see huge divergences you want to be very careful So this isn't bad, but you can see here look right This is this is not a red light green light Thing that I see people in the hero book my room all the time. I don't understand There's a divergence that I got along and the thing was sold off 50 points. This is We're you want to keep an eye on this because this is probably eventually going to happen So you can see as we sold off here while we've been on this webinar The options delta and this is total between puts and calls All right You can just have it at all, but this is this was moving the other way. That's a divergence So the markets eventually going to say come up now. You can see what's happening now This looks like this is going to cross so what you want to watch here now And it might not happen right now and it won't you know the market may do this That's the black and then this turns around and comes here. Well, guess what eventually this is going to turn around Do I trade solely off this? No, but when you get like a say we rally up and we get you know We come back to an important area and then you see huge divergence. You're like, okay I know the options is in my favor. Here's my here's my uh, my si my si indicator setup Oh, we're at an important area You know like let's see where we're out of here because this is probably what's going to happen, right? This is a great example here This is today's trade. This is the most recent value area. This is two days. So say we keep rallying We get through the fee web the whole log we rally up and then we come up to here And you see that huge divergence in the delta you get a sell ice order here You know, there's the liquidity down here that didn't get filled. It was last time down You have all those factors and then say we're at like that would be close to positive one and a half standard deviation to be Well, I've got like four things that tells you that that's going to happen It just gives you confidence to hold on to the trade and that's probably exactly what's going to happen here I will be willing to bet This is an important area though. So then talk about confluence. You got one right here So if I get a signal right here, I'm in you got the web you got yellow Look, you have point of control for this two-day Point of control is just where the most trade occurred in this value area Value area is 70% of the trade for the last two days because I merged them Again, just for you guys that don't know Market profile. This is what it looks like That should actually three days. So this is If the days overlap each other So this is the value area value area set by size. Here we go 703 contracts. I mean bruce. Do you see the effect I have on these markets? Do you see that? Actually, this could actually be me putting in this big size So I just want to let you know because I'm back to trading 3,000 lines. So Just kidding. Oh, that's why Yeah, that's why here you go Six this is almost threshold on its own this And he stops top by yes 593 contracts. So this might be a double whammy a delayed double whammy So you had sell ice sell ice between these two. It's over 1200. Now you have a nice puke 600 I'm going to draw this zone And I'm going to be very very excited to trade it on the short side And he I size up sell yes 700 contracts Right on cue That I'm going to incorporate this as well. Let's make sure I got all the prices right So you just take your little cross here and you scan all the prices till the sundae just right there I usually try to make my double whammy's dark blue So this is one of my six setups, right? This is Dumb it's a little delayed But this is the dumb money puke in this sell ice sell ice came in a little bit before but here's your puke And here we go now I'm shorting this aggressively because I know we're at the yellow lug But we came came to the yellow lug from the bottom and we also talked about pointing control vwap Look at all these things that are confluent with this potential short 9.31 is your atr So we'll make Of that which is 8.37 I round up so eight and a half points below here. I will short this So the zone is about five points wide And I know I have to risk eight and a half to get in eight and a half above the zone to get out So that's 17 points plus the size of them. That's 22 points Of risk. So then I go to my Risk calculator and go to 22 points That means I can put on a two-up based on my account size Most important thing you guys can be doing is following that because if you're over trading your account, you're gonna blow up I'm not even gonna go on down that ramp road today. But so eight and a half points below here the bottom of this zone Is I'll say 13 quarter so that puts me five quarter 475 So where I will short this And everything we're just talking about before magically happen Why I would want to be short here. Now I have now I have my driver, right? I was waiting. I knew where we were We were this is what we were just talking about, right This is the point of control while we'll go over this here in a second, but vwap yola came to the yola from this side Now you have your volume Incident not incident. What's the word? I'm using volume event. That's the driver That's why I'll play if it breaks there If it breaks below will I go along? Absolutely. I'm a day trader. I think these markets are going to zero But I mean that literally but I think you're gonna get killed over the next weeks or months Doesn't mean I won't go long Especially at the bottom. So if this market is truly bearish, this should not do this If this does this goes full ATR retest failure, and then I'll go along I'm expecting that but I'm letting this dictate what I'm going to do because this is what matters My opinion does not matter. Yeah, I have an opinion To to make decisions, but the market doesn't give a fine, you know, what about my opinion, right? So This is what matters Did I mention this is the biggest edge you can have in trading? I mentioned that yet All right, so there's my trade if we come down I'm in this aggressively because we're back below the O log Here's something those Scott. I mean, I I'm sorry to interrupt for a moment. Um, this is just so important Look at the steps in in the actions here number one He Scott noticed This event took place this important event stops and icebergs It's also a lot of volume that just traded. Uh, and also it's, uh, an important area Did he get long Or and where did he set his orders? Okay, so, you know, or did he get short like did he enter? No It's in context now And looking for follow-through after the event so This is the procedure. So, you know This is just so important to I think us Great insight from from you as a Very experienced trader of like how you're handling this. It's not it's not a signal to go long or short It's is to look at the market at this point and start looking for different scenarios to unfold and you're prepared for them Okay, and what we talk about all the time is this is my method of trading this after trading thousands of these, right? You may say, hey, Scott, you just pointed out four different things And that's fine like I again when you're long or you're long you'd like to see buy it You like to see the big money agreeing with you I look at it as this is still just an important area, right? So this is a an invested area Right. So what I was getting at before that came in and I'm going to expand this on a little bit because I want to incorporate this as well um So again, if you if you get a bunch of setups in the same area, just make it one big zone You don't want I mean you could make this its own zone Right, you can make a zone based on this And I would if it was a little higher, but this is all all within each other So I'm going to make it one big zone and I'm still going to trade it to the short side but what I was getting at was You may say Hey Scott, you just showed me so many reasons to be short here. I love that idea Oh here in the cell eyes, I'm going to get you know, I'm going to get in right in the middle of the zone And then I'm just going to risk above it, you know, whatever I would definitely go at least a half atr if not Again, that's getting off subject. But the point is I say it every webinar This is the science There's no disputing this with cell eyes cell eyes by by stop run by eyes There's no disputing that that's what happened how you trade this is up to you But I tell my trade room every day I highly recommend if you're struggling trader if you're just learning these you trade them exactly like I do until you get comfortable with them Then you can put your own spin on it. That's the art. You can say there's enough going here I don't I don't need to see 90 out of here. I'm in right in the middle of the zone I'm up on my stop above fine. I wouldn't give you a verbal lashing for that at all I'd say okay. That's the way you want to trade it fine I'm telling you this is how I traded after watching thousands of them So you can either take my advice and trade them like that or you come up with your own system If you watch enough of these and you say, you know, I usually trade your style scout, but there isn't their instances I want to be aggressive. I'm perfectly fine with that just as long as you put your stop outside of the zone You can't get in this middle of the zone and then put your stop in the middle of the zone You're going to get stopped out very very likely, right? So This is how I trade them. I would not fault you one bit if you said I just want to be aggressive in here and give This a shot, right? That's fine. I wait to Make it prove to get out here because again, I don't really know what the setups are yet Right. I don't know if this rips up and goes a full atr. Well, that's bullish That's not bearish short term. So then I'm looking to go long off this zone If this just breaks aggressively then I mean aggressively I'll go short because of the lug what we just went over but I got for me. I have to see a move out of here to determine what I'm going to do That's it but this you can do whatever you want. It's your money All right. So back to this quickly what I was showing you here So all these days. This is a very important value area, right? Composite value area So this was day one 70% of the trade happened that day. Let's look at the dates here. This was Monday, obviously, right? Or Tuesday and Monday All right I'm sorry for you guys that are advancing. This is so elementary. This is you got to remember there are newer traders on here This is 70% here's the point of control. That means out of this 70% value area They call it value area where it's 70% of the trade occurred. This is the price We're trading the most they call it point of control, right? This is the next day did 50% of this value area overlap this one sure did so I merged that Okay, so now we have a two-day profile Then this was yesterday's trade In and out in and out in and out and it just basically just stayed inside That's 50% of this day overlap this sure does Merge that now I have a three-day three-day powerful composite It is no it's not a coincidence that the market opened up and it couldn't stay out of here It went right in and when markets accept in the in the valuaries especially composite values the tendencies to get to the other side Wow, look at that perfect So if you know all this you know we get in here you get to say you got it We didn't get a buy-in signal up here unless you traded it overnight's dumb and dumber. That was perfect, of course Um, you know, you get a volume signal like go time. We're in here. There's my negative. Here's my bearish signal I know there's volume here that you know real-time buy-in that's that's confirming my thesis of entering back in and going to the other side You catch this entire move That's it guys It's just having an idea what the bigger picture looks like and so again doesn't matter If this setup turns out to be bullish, I'll go along and I'll ride it up to this Now watch very carefully as we get up to here and or red lug All right, I definitely get out of some here because again, that's you know one and a half standard deviation That's close to baby lug But that could definitely happen too I I don't oppose my will on the markets the markets don't give a crap what I think This is what the markets care about The invested traders that are caught so on and so forth. So now we wake so that's that Um, and natural gas has not retested that zone, but if we retest fail, I'll take a short there I'm very surprised there have been no setups in Grains today. You guys need to be watching grains at least I don't like corn. I mean it has been moving around lately, but beans and wheat This it does not matter. I don't care what name you put on this. It's the same stuff Liquidity si indicator markets react to the air. It's the same stuff. It doesn't matter. That's why I watch 15 markets Right because I want to I understand some traders don't have the bandwidth to watch 15 markets Right, that's fine. You need at least three to five that you're watching So you're not pigeonholed in the trading this donkey like we referred to before I really appreciate that comment scott. I mean that um about the donkey No Actually, I do Maybe even more than than I want to admit. Um, but like, uh, uh, it's funny. Um, uh, but the um, uh It's funny here put it that way. Um, the um, what I really appreciate though is like, you know, look look at like this Kind of fearlessness of looking at all these different markets Um, but you know what you're looking for you're looking for Uh, something to tip you off to some sort of edge in here Using stops and icebergs and then context. Okay, great. You got the um, kind of um, alert about stops and icebergs Now what's going on in that market and how do you want to position yourself? for gaining an edge and Yeah, really really nice. Uh, it's uh, uh, many of us look at just one or two markets and uh, and leave it at that Yeah, you're doing yourself a disservice and and you're probably gonna cost yourself money At certain points because you're forcing trades. It's like, you know, I gotta pay my rent. I gotta I gotta make money I gotta I gotta put on a trade here That's that is a one-way ticket to blowing out your account and never and not trading So you have to be able to say nothing's going on here Move on to the next market now there's going on there move on to the next market And then you just sit here and listen and you wait right so between tick strike And the si indicator alerts you always know what's going on in these other markets So some starts firing off you just pull that puppy over right like natural gas waiting here for For this, you know retest Whatever whatever you're watching and then you just trade it the same way whether this is es and g and q or dy It doesn't matter. It's It's volume. It's invested traders. It's knowing the areas. It doesn't matter what futures market you're trading You know if they had this for stocks, I'd use it for stocks, too That would probably be a little too much bandwidth needed, but I would Yeah, it's too bad. I mean that was it's a number one request Is to have stops in icebergs for for stocks. However Look when it comes to these types of things. I mean book map is very data dependent or high quality data and rhythmic offers it Uh, and they're the only ones offering market by order data That's it. It's not that we were just shocking. It's shocking It's it's I think the the industry is just kind of antiquated and trying to wake up To what's going on now Rhythmic has been well positioned Well, that's my opinion though All right, I also get all the time I literally got More than one email about this. Well, what happens if If the if the CME takes away this the mbo data, what are you going to do? Well, I mean Is that a possibility? Absolutely. Do I think that's going to happen? No because The again, I don't know this for sure. I just know from what I've seen from the CME over 25 years You know, they used to have I told this story before too They used to have a counterparty where you can literally I would have a screen up like that It was that literally looked just like this It was at the bottom my tt screen trading technology at the time is what I used, right In every trade I placed you can see exactly who you traded with the house number, right? So we were 023 King Street trading was 023 Galbra was 990. That was my nemesis. But then you'd have like Merrill Lynch Femat, I think Femat was 714 6 I love some of your old floor traders are going to know is that going to talk about 660 was Morgan Stanley, I believe so. Anyway, this would tell you exactly who you're trading with Well, you think that's an advantage When I drop in a 500 lot or a thousand lot and I see it's all one local local is like a day trader type of you know trader I know okay, and when you do it every single day, it's like playing a poker game So I drop in a thousand. It's all 990. I drop in another thousand. It's all 990 Well, I know the guy can only take so many contracts. So now I wait, right? So it's like so I say some a thousand some another thousand I look over and just see 999 999 Okay, I know it's not the big house a big a big player I know it's just a local so then I wait and I start to move against them Then I would just step on the gas because I know he's out of he's out of bullets, right? And they turn around and pick out the position so Shockingly they got rid of that right see me got rid of it So my point is what I'm trying to get at is can they get rid of this this information? Yeah, do I think they're going to know because They're got to a point there probably within the last I'd say between 2010 2015 where You know elbows are nine over 90% on the market, right? So When you get to that point, who were they taking money from it's like shark shark each shark That's not that the big money doesn't want that the big money wants you in there So they can take your cash with their elbows, right? If you guys don't think this is what's happening then again, you're clueless or just clueless So they want your money. So I I will be willing to bet anything that the reason that this is still around is Yes, the the big money Do you think they like I mean the whole idea of of these icebergs are to hide their orders, right? So they can't be happy that we can see this But they also know if this goes away, they're knocking out a lot of retail traders And they're who are they going to take the money from right? So I think this will stay around That's also why I think it versus never. I don't know if you know for sure, but I'd be willing to bet like every cme market has the cme mbo data except the currencies Why do you think that is my if I were a betting man? Which I am I'd be willing to bet that some of the big players in the currencies 6e and whatever the other ones Because you can't see icebergs in there anymore. You see them before now. Now all of a sudden you can't see them I'd be willing to bet the reason you can't see them is because they complain to the cme and they and they pull that information So it could happen obviously I don't think it will for the rest of these markets, but it could so Again, I'm getting off topic the point is yeah, it could go away So let's make as much money as we can before it goes away. How about that? And if it goes away I'm sure book map will come up with something else, right? I mean I you can trade book You can trade with your basic Your basic setups and your your structure and liquidity and the buy bubble the market orders There's still a way to make money. It's not going to ever be as great as this. So yeah, it could go away So make as much money as you can before it does. How about that? That was an excellent rant Um, and the thing is I I I know I'm right especially about the the currencies I'd be willing to bet anything on that Obviously can't confirm that the um let's see Mcstochster trader Mcstochster is asking about when you get uh overlap levels on your volume volume profiles 50% then do you merge them? It's that again. When do you merge your volume profiles? That's what I just went over. Yeah, you said that There's a question in here Well, you might have asked before is because I just said that right so if if 50 percent There you go. That was our close Of this day Overlaps the prior day, which is probably 75 percent of this day right overlap then then you merge them You know the one thing I don't like about marker profile There's a lot of guys They they make it too much of an art, right? So you'll see a big day like a huge, uh, I'm sure we could probably find it An ng let's say here But you'll get like a huge day like beans or something, right and This might be one here This might be going so say say that one single day looks like this or something Yeah, like this big spike and then the value record well, they'll turn around and they'll cut this day They'll cut this part of the trade out of it and then and then it's just I don't like that philosophy I don't like making This an art this is use this as as much of a science as possible because you want to be trading Areas that other people are seeing the same stuff right because that just bolsters your area if you're starting to cut cut Profiles off and all this other nonsense then I just don't believe in that. I don't touch these things. All I do is merge them So most of people don't even want to talk about that don't understand marker profile, but If you ever if you ever approach someone that cuts stuff off just be very wary of it because I just know I don't I just don't think that's the way to do it I think you just keep them like they are And you merge them when they overlap and you make composite value areas There you go, and you see how powerful they are And then you can come up with stories every day based on what the market is doing around them So your story could have been at the open. All right, I'm watching this. We were up here right overnight I want to see if it bounces off that that's bullish. Okay, and then I'm looking for my bullish setup and then I'm going along You could just be waiting for that exact setup, right? Or My story is hey, we accepted in here. Here's a here's a bearer setup. We just talked about this I'm gonna I'm betting we get to the other side exactly what happened Right. So you come up with stories based on what the market does at composite profiles And yeah stories more specifically, I think trading scenarios around that To be set up for Understanding again like context here like I'm sorry to add to the rant But this is just really important like understand what it is showing you And that is a profile is a composite of data. Some of that data is old and doesn't matter anymore Uh, you know like uh, this is something that is a A limitation on profile Uh, what matters now is the the real-time volume at the moment like is it moving the market? So all respecting those areas Or respecting those areas and that's a big limitation because people look at the the profiles like it's the holy grail And just understand that well, you know, it's also a composite of a lot of older data If someone moves the market quickly away from that area, it just doesn't matter. It's not gonna come back so so You know just keep keep it in context is I think really really important understand what they are Anyway, that's my rant See look at your look at the influence you have Scott You don't you don't want to go down that rather I leave these webinars in my head is just pounding because I get so worked up about stuff Uh, we really lots of comments in here. We really appreciate you scott so Sure again might you know, I've even gotten even even when I um When I first started talking about the SI indicator a few years ago, you had other software programs or like oh that doesn't That this is a lie and he's you know, it doesn't matter what the You can't just judge by iceberg. It doesn't mean we're just going up of a buy iceberg comes in or down of a cell And I've never once said that's the case. I said the area is important right first and foremost But then I had other people telling me, um, I lost my train of thought I was gonna say no My ranting has messed up my head um Uh, it'll come you're you're 50 now. So Yeah, tell me about um, I feel like I'm 90 mentally um Actually, I take that back. I feel like I'm 15 probably more like 12 or 15 or something meant very Right some of the stuff I talk about think about I'm like I'm a 15. I got like I'm 90 physically um I can't it was a good it was a good add to the rant and I can't remember All right, so hopefully it'll come to me So we're we're just waiting for this to get out of this zone obviously the longer sits in here When you see zones like this and it just sits like this. It's just guys holding their breath like Okay, what would you know because they're fully invested now. What which way are we going to break? So all the longs that ran into the cell ice we move out they pew All the short, you know the shorts. I'm sorry. These are shorts No, I'm sorry the longs the aggressors were longs that ran in the solace or the sellers that sell them in this buy ice We move up they got a puke, right? So that's the whole idea That's what's happening in these markets at all times. It's just guys invested guys puking guys invested We talk about this in terms of structure Markets are in one of two states at all times. They're either balancing Or conviction balancing Well, this was the conviction there, but let's see. I mean you can find it everywhere balancing conviction balancing Gaps are conviction as well. So they're one of two states, right? And what is conviction conviction is puking? That's what conviction is. Yeah. Yeah, there's there's firms initiating positions But a lot of it is just guys All these longs that's set in here for days and days and days the longer term traders They thought they had it no dice gets to the high volume note of that puke And then that's what we're waiting for here. You see this. This is three days basically a balance The next move out of here is going to be Directional conviction most likely unless it's a fed fake, but then the other way is going to be directional conviction Right. So now we wait. Look, we're at we're right in the middle of this thing That's not a good place to be trading So you can come up rules where you say, you know what? I only trade at the tops and bottoms of balance areas or when we break out or when we break out and retest fail That's when I trade The more specific you can make your trade plan the better you're going to do and you're not going to confuse yourself on every single move That happens in the market Most traders try to make sense of every single every single thing that every move that happens in the market You're not going to it's not going to happen because it's 90 85 to 90 percent algos There's no rhyme or reason the rhyme or reason is to take your money by whipsawing you how I wish I could remember that rant I don't know. You're talking about different strategies or something like that And maybe art forms or something. I don't know. I don't know just one of your heads Okay, remember. Oh, well, we'll save it for another 15 year olds like I feel like 12 or 15 Okay, I have a 16 year old so I definitely wasn't talking about Okay, all right So Let's see. Uh, I think we're all caught up on on questions Okay, and I think you know what you have another trader coming in here. Am I going in? I'm going in this time, aren't I? Uh, yeah, yeah, we we we got to get going here. Um, we uh, tom b everybody, uh, is up next If you want to join uh and continue the, uh, uh, live streaming over there Uh, I remember I remember I remember Okay, so I was getting literally I had one guy contact me on twitter Why would why would you give this information? Why why you have this said? He's like you see all these other these big big traders these big fund managers They you don't hear one word from them on twitter. They don't say a thing They don't they don't do webinars and telling their secrets. I'm like What are you talking like I'm just showing how to read mine. I go if anything I am 100 for the retail trader to be able to compete Because you guys gotta remember remember the very beginning of this webinar. What did I talk about how I got knocked out of the game, right? I have ptsd to this day from from being a multi-millionaire to not be overnight I made I went from making millions of dollars to couldn't make a single cent in the market, right that There's a saying out there I've said before having having money having money and losing it is much much worse than never having money at all Right because when you have it you know what it feels like and when you lose it it feels not so good, right? So my point is I will do everything I can like people really think that like there's something behind my motive is that You know, this doesn't work or I'm you know, I'm just trying to make money blah blah blah I legitimately am trying to help traders the retail trader compete against the The man right the Houses the the big money that manipulate the market the markets are 100% manipulated But if you again like I said before if you know what they're doing if you can't be a joiner So my whole goal. Yeah, I want to make money trading and yeah You know, I charge for my trade room and I charge for my courses because that's my time, right? So yeah, I'm going to charge for that stuff But I compared to what some of these other educate educate. I'm doing air quotes again educational guys charging like 10 20 thousand dollars for stuff It's like What what you get is what's really happening in this market and again, I am a proven trader You show me track record of any any educator out there Legitimately that's made 15 million dollars in a trading career and then we'll talk and then I want to go Head ahead with them too right now in these markets So the point is guys I'm trying to help you get better and understand what's really going on here And if you think there's other motives, then you're just a pessimistic jerk basically because there's not you know it makes My my pride and joy is obviously I want to make money But when I see other traders in my rooms making money and understanding what's happening That like that is that is 10 times worth more to me than making money Just to to see guys get it right and guys that don't get it That's the guys that get the verbal rants in my room when they come out And they just they're doing stupid stuff and putting their stops and students Like that that's the stuff that drives me crazy. So I'm I'm for helping you guys first and foremost So that was my rant on that but it just that got me going because the guy's like, why would you do this? Why would you tell people your secrets? It's like there's no secret. It's it's market. It's volume. That's not a secret All right, that's my rant. I know we're into that other guys time tom's time So um, I will get short this unless something new comes in that I may have to move it But I will short a yes I think we're going right back down here And you see be careful with liquidity that comes in like this by the way Because that's this is just guys could be playing games with the market the liquidity that's been in here forever That's what you want to watch and This has not really been in here forever This came in a little late a little while ago But remember this stuff down here and I've been going to bed This is where we're headed because they got front run and they can't be real happy So they're going to push it right back down here and get filled And you can see they put more in right here too. So All right guys, um, so I'll short that I will short natural gas on Getting close to a retest didn't quite get their retest failure there. I will short that And then just waiting for some new setups in these other markets But once again, this is what I do every day in my trading room Twice a day and then you know, you got really good traders in there as well There are posts and stuff that you see you're never missing many So I highly recommend if you want to learn more come over there. All right, that's it All right rants today. Yeah. Yeah lots of lots of rants. Um, yeah, we do have a discord room everybody So I'll put the link into the youtube there And so you guys have it And just want to also, um, yeah mention tom b starting up here As well as if you like this, please like it in in youtube there and You know add your comments and that would be much appreciated if you don't like it If you don't like it, I'm coming after you so you better hit that thumbs up It's a joke there. There you go. You have scott coming after you. Um, uh, so Yeah, keep that in mind with your comments. Um, how many people are on youtube right now? Just kidding. Um, yeah, we had about 80 in there 83 or so now they're starting to bail So everyone knows that it's ending here All right, phil by the way that's quickly just to go over this my stop 8.72 so I take 90 percent of that That is 7.84. So eight points. I wound up. So eight points above here is messed up so 20 basically 42 42 28 Again, that's just adjusting it to the dynamic volatility. Yeah, and also this is only for educational purposes So, um, not a trade recommendation here. So you guys know Why why we are doing this as well That's why I'm taking the trade All right. I will uh, thank you Bruce for having me. I'll see you guys all on Next Thursday. Okay. Thanks Scott. Thanks. Take care everybody. Bye. Bye