 Good morning traders and welcome to the live trading webinar today with Scott Balsini, a futures trader. This is Bruce at Bookmap. I'll be hosting. Scott will get started in just a minute. He does this every Thursday at 10 a.m. It's Scott complete completion of our educational services here at Bookmap. We have the kind of initial start is we have free educational course on YouTube. I can show you where that is. It will go through the basics. Understanding basic market mechanics. It is an imperative that you understand this stuff. It is here on our YouTube channel under bonus materials down here. View full playlist. You'll see the educational course here. Parts one through four. Please at least start with part one and two to understand basic market mechanics. What makes the market work? Because Scott is going to go over some advanced concepts based on those market mechanics. Now we also offer live analysis daily in the advanced webinars. We put all of that education in the course to the test. Finally we have live trading so that you can watch another professional in the market trade and use Bookmap and order flow in their very specific or proprietary ways. You get the whole gamut here and that should complete your education. We do it week in and week out. You guys maybe know who Scott is and his story trading that just about responsible for about 10% of the S&P E-mini futures back in 2002 to 2005. I have Scott's contact information. He does offer mentorship and education. He's got a trading room. He's got an educational course. You got his email and a website here. I'll put it into the chat so you can reach out directly by just clicking on the link. Let's go through the disclosures and then turn it right over to Scott. All right so oops sorry about that. What happened there and how did I do that? Okay there we go. 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Past performance is not necessarily indicative of future results. Scott are you there? Let's see. There he is. Okay how are you? I'm okay I'm okay. Let's see if you can share your screen then I'll rebroadcast that and we'll kick it off. There it is. Got it. Good to go. Alright watching these equities. I was just short NASDAQ actually I have to travel my stuff here. Kind of missed my I was gonna get out of one here. We'll go over where I was gonna get out. Hopefully this doesn't come all the way back on me but now because of this new setup we'll go over these setups why I got short but because of this new setup I cannot travel my stuff. I need to so we got this new spreadsheet in my room where it gives me exact prices where I'm not just estimating where I can plug in the PR. This is the zone I'm short off and we'll go over that. Scott your voice is a little low it's like you're kind of like passing secrets in the alley or something undercover. Is that better? Yeah I think so. Okay put the zone in yet I gotta figure out where my stop is here. Things gonna come all the way back on me but I like this short there for a second. I was hoping we can get down to this area. I'll show you here. Once I get the zone in if I ever get it in so the top of the zone was 3150. Alright so 7171 so 7175. I'm surprised this came all the way back like this but I mean I'm not surprised equity-wise because that's what probably happens it feels like but we'll go over some of the reasons I thought this thing was just gonna die right there but did not but the worst case scenario is I scratch this trade even though it was a pretty nice winner. That's my stop so you can see my stop was originally I don't even put it in. I don't even put it in when I got it and this happened so fast but so what had happened it was a set up up here see right after the open there was so there was there was sell ice I drew this this black zone up here and then we had a stop run it had a stop run 190 my threshold for Nasdaq is 150 so my thresholds basically tell me when it's worth trading right so a lot of guys get this SI indicator SI sub chart and they're like kids in a candy store every time to see a spike they're trading off these spikes so you know from watching thousands of these setups over the last few years I determine what is the adequate adequate amount that the market responds to aka thresholds so this was a threshold and I've made a little bit of an adjustment with my with my entries you guys know how I've been if you watch my prior webinars you guys would see you know based on the Ludwig levels where I would where I would get in aggressively or conservatively I have two different entries right and if we're below the yellow log I would get in aggressively so on and so forth but I've determined what I'm doing lately is I'm only being aggressive and really important areas and or like breaks of balances so on and so forth so like important areas meaning like the zones I drop we'll go over some of these why I have these drawn another important area where I would be aggressive for us to just say we're you know breaking out of a balance area right and say we're breaking down out of there I'd be aggressive out of there something like that but other other than that the majority of the time it's 80% of the time now I'm just waiting for a retest failure of these zones and this is exactly what happened here at our retest failure so that was a setup this was literally an ATR to the tick at the time and then we came back we retested the zone we weren't it was never able to push an ATR above this zone so that is still the green light for the short so when it came back and got 110% of an ATR outside of this area I shorted it so this is the setup I shorted that and my stop should have been I just didn't get a chance to put it in I wasn't really worried about it because the market was dying but my stop would have been 110% of an ATR above there and then I shorted that and I was watching it and then a new setup came in so now I can trail my stop based on some new setup and this was 172 by ice right so it looks like this puppy's gonna come all the way back on me this was real close to the fill I should have actually just gotten out down here because this was into the blue lug but I by the time I looked over because I was I had a crude trade on to one of my other trades that I'm doing with my room I should have got out of one at this at the blue lug and busted through here and built new lugs so I'm like you know I'll give this a chance to get down to this market profile composite and you can see it got close and that's where my bid was and I was coming on way back so I probably should have just got out of one regardless there because I should have been out down at this blue lug anyway but I did not and looks like it's probably gonna cost me so this somehow cannot push an ATR above here and come back then that's where I'm getting out of one and I'll try to hold so you know I pay myself so we talk about we'll go over this with this trading in the zone document but you pay yourself as you're right in important areas right and not meaning not just because you have a profit because you watch certain things every day and you know the areas where the market may bounce so on and so forth important areas to you whatever you're using right so my important areas just look at this again number five I pay myself as a market market makes this is all from trading in the zone literally verbatim right up but I mean I put in obviously my my things that are important to me but I pay myself with the market as the market makes money available to me a lot of weight levels so the major lugs red and blue and yellow market profile can as high as those PLC so that's where I was going to get out of that one where I just missed that so the VWAP standard deviations I'll do that if they're concluding with something else and then important pre-divine zones based on the candle structure that's what I'm showing you so I will pay myself partial profit as the market moves into those areas and then I'll try to hold one for either the major lug right so this would have kept going I would get out of one there like I was saying and I would have held one and try to get to this major and or an opposing set up so say we were ripping down and then you can get a new SI stop iceberg setup and it turns into a bullish setup we'll get out of that for that reason as well other than that I try to hold it for the major lugs and that's how you catch the runner with a bigger trade so that that's how I trade and I try to stay consistent with that as best I can so you know this type of movement sucks I should have been on a one and you know this is kind of negative reinforcement for traders that this happened right so a lot of times they're in this trade and they're like okay I'm gonna as soon as this comes back a little bit I'm gonna get out so yeah that worked out that time right but over the long run if you're just getting out randomly just because you're watching your P&L and you don't want to give back your profit it's not gonna work out for you trust me so if you follow your rules and you have standard rules that which you should obviously should but they have to make sense you have to do them every time so this sucks this came back I did break my rule here kind of because I should have been out especially right when I heard this buy ice come in right at the blue log I should have just been on a one but I just was not paying attention at the time so that possibly a little bit not a ton so that trades done so now what I can do actually is because this never got an ATR below here it just never poked an ATR from this latest setup so now if we go ATR retest failure I will go along this market and then also ES did the same exact thing it's here there was a almost a thousand cell stops here and we just ripped away from there so if we happen to you know this is barring another set of coming in coming in my bubbles back here if this market comes back to this zone and retest fails I will go along this as well so I wasn't really liking the long but as I tell my room and I'll show you why but as I tell my room all the time you know come up with your thesis and then if you get the stops in line with your thesis then it's go time right but you know if if the thesis if my thesis of the market is actually doing opposite which happens all the time right well you got to be able to pivot and the real-time volume setups the SI indicator setups tell you if your thesis is wrong right so if this market was truly bearish right this market should have hold this zone and went lower say when NASDAQ right and especially this is why I was you know shorter term bearish today is this was an important zone where we had this directional conviction the other day it kind of held yesterday and it started to break below right now so this thing should have done this at least to this directional conviction and it did not right so point as I was thinking this would happen but guess what did I just jump in short because it broke this this prior zone no because I needed to see a volume setup that showed me no to go short and it didn't happen actually this was a bullish volume setup that we just looked at so that's why the real-time volume is so important because this is what's going on right now I don't care what line you have on your chart if the real-time volume is not agreeing with it it doesn't mean much right so I avoided a short there I was short Nasdaq but I was able to scratch based on the setup and now I'm waiting to go long either a retest failure this zone or something new comes in then I'll play that as well so now we're just we'll sit here and wait so I'm waiting for a retest of both of these volume setups this one for NASDAQ and this one three is and or something that's that one thing you want to pay attention to here as I use this in the room as well keep an eye on this this is called the edge it just tells you so this is set for the S&P but it's showing you out of the 500 S&P stocks how many are above or below their five minute task boxes which are just many market profiles right so the whole idea behind this is if it gets overextended meaning this is a 67 percent line you can see the percentages over here if you get above 67 percent or higher many times the market will snap back so at minimum you don't want to be buying if you see this thing up you know 70 80 90 percent you don't want to be initiating longs until this thing can pull back and then then you're so it's a lot safer to go long and then the flip side that things overbought and you get a setup and it's in an area where you want to short that's even better right so you can see this has been creeping up so I will make exceptions we already just told you what these setups right and I've been waiting for so I say something fires off right here and I want to go short you know unless it's in a really important area I'll wait for the ATR the retest the failure I'll go short if we get up here say this fires off and we hear a stop run coming up and that edge is at like 88 percent I'm gonna short it aggressively the minute we break out of the zone so that's the one exception where I will be aggressive because I've just watched this thing for so long and it's pretty golden you know it's not it's as close to red light green light as you're gonna get but we there are times where it'll get up here at like you know 70 80 85 percent and I'll just kind of hang here for like a half hour right and that's only usually when you get high relative volume meaning the big money's plain seed but I'd say the 85 percent of the time or a little more once this gets up here it snaps back and so this isn't this is a edge product it's called the edge it's a task product that I don't think it's available to the public right now I don't know why but it's not my product but I use it because I used to be in the trade room with Taz when I first started out doing the trade room instructor stuff so I still use it it's very valuable so we'll keep an eye on that so we're not initiating longs when the things overbought if you guys remember a couple weeks ago I initiated a short never got to look at that and the thing was like that 80 86 percent and I initiated a short it was an ES actually I was already short and I added and I didn't realize I was oversold and I got smoked on it so I you definitely want to pay attention to that so this is what I was talking about the test boxes so just imagine these boxes for every stock in the E-mini S&P right so it's showing you the market like moves above that five minute test box it means it's overextended and most likely will pull back and so that's what that that gauge is showing you so spot gamma why is this is important is an important area here if you follow this as well in the room but you can see on his notes here he puts in it's very important to keep up with this because you know I keep up with the very basic sense you can go down a rabbit hole with this stuff it's very very interesting you know just like with anything I try to keep it simple stupid right so it's like you know I use I use these levels for support resistance I pay attention when he says like this is something you want to pay attention to right here when he says stuff like this that usually is close to 100 percent right on right so what he says here is further our critical support line ball trigger has been working its way higher along with the market this is expected behavior and highlights a break of 3,800 leads to an error pocket underneath meaning you know it'll be what he usually puts in there's an error pocket down to like 3,700 and I can't tell you how many times where we'll break this level and it'll go straight down to 3,700 so the options complex is a very very important part of the E-mini SP and Aztec and you know E-mini is the largest the SPX is largest option complex on the planet right so it's very important because you have when when the general public or whoever wants to buy or sell options there's got to be someone on the other side they call them dealers when the dealers get loaded up with positions they have to hedge themselves so they are a big part of the futures trade so who need to know where these levels are and you'll be amazed and how the market reacts to them right so I'm not going to dive into that at the time but he does have a real-time options flow they have an on book map as well this is his standalone I just I just have it on the standalone because I got so much stuff on book map anyway actually let's refresh this I don't know this is always good to take a look at when you see big divergences you want to pay attention and so take a quick look here the X so you can see here there's already this is already starting diversions right so the black is the market market's moving up the option applex puts and saw puts and calls put together is moving this way so that's this pink line or blue line whatever color that is on colorblind so when you see divergences that's important and then when you see spikes like this that's important too that means the money someone came in and did one huge options play and then you can see how the market caught up with it right so this is more of a kind of like a just city or type of divergence but just want to pay attention to because of this market keeps moving up and this not not agreeing the market will eventually come back this is not red good like green light right like this is not like an edge product where it's going to happen pretty soon this can be there could be a divergence for a while so you just got to you know be careful but you want to keep it in mind because especially if you start to see the straight line spikes so you can see the SPY there's a little bit of divergence queues are pretty much right on actually options are a little higher on this one and then Russell as well and actually I forgot to go over the wrestler because I saw some monster size security missed this opportunity but you can see here look at this so 150 is threshold for Russell right look at this that came in down here 250 250 200 so it's 700 almost 900 pretty much over a thousand icebergs all icebergs down here how that didn't work out too well for them and that leads to another point right when this thing first came out the society indicator when I was you know talking about it and you know learning it myself at the time but we were doing webinars and you had at least these competitors or would be competitors I thought they were competitors of book map but obviously no one compares book map in my opinion they were besmirching this saying well that doesn't mean just because you see sell ice doesn't mean you go short and I never my life had said just because you see ice in certain direction this is the big money yeah I mean you want to pay attention because they're right more often than the wrong because they can push the market around but they're not always right right and I actually have a distinct setup called broken ice for when they're wrong and I actually I miss this trades look at this this is textbook like I always complain about you guys hear it all the time when I miss them they're absolutely perfect without a hesitation of torture right so here is the setup here you go I guarantee you that's an ATR here's your retest to the exact tick of the zone and then you go on right there or wherever the ATR was let's see what the ATR is actually so that's upsetting right there because I could have definitely hedged mine that would have been a nice edge for the NASDAQ short not that I trade like that I don't put on positions just to hedge but you know that would have protected me from that letting that NASA come all the way back because there was a setup in Russell so down here the ATR was right around you can see them left there right around 60 60 techs right so the top of the zone was at 93 talking the last two digits so 53 would have been your ATR there you go a little higher right this is your ATR 53 which I'm sorry thinking about my other strategy but anyway that's what you're looking for is the ATR to prove that this market can poke more than an ATR more outside of the zone which it did came back retested I would have been long 110% of an ATR so probably right around 63 65 and then my stop goes an ATR below the zone ATR to plus 10% below zone so I currently be long but I missed the trade but this is this is exactly what I look for this is the conservative entry setup ATR retest failure go long and then your stock goes an ATR below there and I know what people are saying when you got a risk oh my gosh when I put on the Russell I like to risk 20 techs and then you guys hear me every single week my room hears me every single day it does not the market does not care what you want to risk the market cares about volume events market cares about ATR volatility that's what you need to be paying attention to in trail and basing your stops on that so if you do have to risk if I were to put this trade on you know I would have been in at 63 is sure whatever like somewhere right around there and I got a risk an ATR so 60 ticks below this is how I trade these and it's from experience right I would have to risk 60 ticks below here so my stop would have been here so I mean that's basically a hundred and what 180 ticks something like that that's a lot but guess what you just cut down your size and that's what the spreadsheet we use in my trade room this is the most important part of your trading is controlling your risk based on the volatility so here's a good example with this with this Nasdaq you know if I would have taken that I would have gotten it off that last setup my risk would have been a hundred and fourteen points is that a lot yes a lot but that's what the volatility is tell me that needs to be that I have to risk if I want to trade and not get stopped down on random algo nonsense so what does that mean well usually I'm putting on 304 Nasdaq well with that with that ATR based on the zone and you know here's your zone prices based on the zone which is the volume event based on the ATR which is the volatility this is telling me this is what I have to risk to not get stopped out on nonsense you know random algo trade so that means I have to bring my size down to 1.32 obviously you can't trade the big ones and fractions but you can trade the micro I could put on 13 micros or one or two you know if I want to round up but you have to adjust your size based on the volatility you don't say hey there I have to risk 140 points I'm gonna put on my normal size I can do when I have to risk 30 points that makes no sense and you're gonna blow your account all right that's my mini ramp start the morning I'm still waiting for something to happen here it was a good one yeah I was watching crude I want to go along this as well this is a good example of not that I wanted to go along with this setup is potentially a long setup this is an important zone though you can see here this area was important and you want to mark these areas on your bar charts because the market responds to them so many times on retest right so this was what directional conviction directional conviction mean straight moves now and you can see it led to that comes back and so kind of holds where we get again gap down which is directional conviction so this market closed here this day this is a regular trading hours chart so I can see the gaps gap down that led to this huge moment right talking eight hundred or eight dollar movie an hundred tick move that's pretty important area you would think that led to this that never tested it again until when right now a little bit ago right so this zone is really really important so once you can get through here yeah I really want to be long I'm not that I go on aggressively but I my thesis is long up to here but right now until this can prove this is we are again we're back in the zone this may just do this for a while but you know until this can prove and get through the zone that that may happen but so you come up with if that's scenarios right so I don't right now I would lean short right just by saying okay you got proved to me you can get through there guess what this volume setup showing me potentially long so like I said I can I can think something's gonna happen as much as I want it matters what's really happening in the real-time I'm so or this was pre-market this was a big stop run this was I don't have it on this computer because I started this a second late this was a 500 lot stop run here's I got another one running here so that I run all night on this computer there it is right there so it's pre-market obviously this is 730 central 530 my time the number came out whatever number was I forgot it doesn't matter that's the stop run that was actually almost almost three ATRs they came back it retested and then here we are right now right held the zone not surprisingly right the market responds to volume events that was the volume event again it's not I'm sorry it was over here again but that was the volume event yeah beauties of an example I need to be going along this market right that's what the vibe is telling me I don't I don't like going along in this zone but guess what one you know the volume setup to look at this liquidity up there we all know anybody's watch these webinars or whoever watches program you know that is just pure it's a magnet right it's the big money that has been in there forever and they will push the market there eventually so this is already set up for that zone right because I was trading the reversing trade we're doing in my trade room what I do have to check is the ATR the ATR is 29.7 so for the position trading strategy because I already have my zone in there and nothing else is fired off in there since then to go along 8928 would have been my price and I can trade three three contracts so we were right here right now right I already missed I should already been long but because I was chirping I missed it so if this comes back up to I missed it by a couple ticks so it should have been long each 28 I got in like a 31 so regardless that was this that was that that was that I should have been in right there but I'm in so now do I do first and foremost where's my stop it's gonna be 110% of an ATR below this volume of that which is what 8832 as I come over here the spreadsheets of God's son Jail abroad of my room made it for us and it's just incredible son of city or you guys have seen in prior webinars I got to do all this like math in my head and draw zones and figure out where the zones are it's just been so much easier so that's my stop based on the size of the zone based on the volatility not based on I only want to risk 20 ticks when I trade because guess what if you're only if you got longness at any of these times you would have been stopped out that's why I make the market prove it can push through these volume events plus an ATR in 10% then you're pushing through the algos that like to snap it back at an ATR right so I mean that tells me okay then then I'm wrong on the next straight right that's what it's all based off of it it's not hypothetical again I've watched thousands and thousands and thousands of these and that is the correct way to trade them that I've seen talk about it every webinar as well this is science there's no disputing I mean again this is the smaller one but there was a 500 there's no disputing that was a stop run right how you trade these zones is up to you well I don't like risking this much but I've learned the hard way of trying to play games like you know getting in right when it breaks his own and stopping out like in the middle or just out I've learned the hard way algos are 85 90% of the market and when there's nothing going on they know when nothing's going on there's nothing going on as well so they'll start whipsawing traders the retail trader back and forth taking your cash so this is why I trade these the way I do you can trade them any way you want your money but I would behoove you especially if you're newer or you're struggling use my method and then as you get better at it you can start to tweak a little bit right and I'm always if you got you have some better method I'm always open to hear it that goes for indicators so on and so forth right I don't I don't implement things right away my trading I need to see it work for a long time like the logs and everything else but did I not hear this did this just happen here yeah Scott I don't know if your mic or your sound is all there we go I'm sorry I remember turning them down can you hear me even talk in this whole time I can hear you now yeah no I had a just a few comments about that was a good rant little rant but that was about it I'm sorry so I totally missed it I didn't miss a trade here but I don't remember turning that down sorry guys I just been chirping chirping chirping here we go let's draw this down so this was a thousand buy stops right so I was waiting for a retest of this new cell stops down here way down here never happened now I got a new setup now I trade off of that new setup right let's go in here and enter these values so I'm not guessing so first of all you want to incorporate all the prices that occurred and this is where the SI on chart helps you obviously you can see this red line it gives me the exact so this is by design the stop run you'll see this red line it starts before the actual spike so when you're using just on stops not on icebergs and what we'll go into that later but on stops if you see the line you know as soon as you see the red line that's where you want to draw it on that bubble right so that army and on that price point you can see the price line usually white and it turned red that's right where you want to drop stopping it in right there but I turn it down because the guys were chirping in my ear that's why I remember but anyway all the prices you can see this price line that occurred in this spike and that's your zone right so now we have this this went higher but this wasn't part of the spike so I'm not incorporating this price point so let's bring our bubbles back and then let's put the values in the spreadsheet so I don't have to be guessing 738 70 25 and 6775 is the low 38 68 6775 important obviously we talked about it 8.96 you can see at the bottom in the middle that is the current volatility of the market ATR average true range for a five minute time period I can see position trading where my prices would be if I want to go long if I want to go short where my stop should be if I'm long where my stop should be if I'm short how many points I'm risking this doesn't really matter I if this was 100 it doesn't matter it'll just this will change right so watch this if I change this say ATR was ridiculous which it sometimes kids say it's 20 let's bring this down here watch this change yeah watch those changes right so if I make a 20 ATR I had two ATR in there I could risk almost nine contracts I'm only risking seven points if I have a 20 ATR goes up to risking 46 in any S&P points I did that is what it is I just cut my size down to one right 1.29 or you can trade 13 micros see how that works so it doesn't matter what this is you just have to change your size right because this is what the volatility is dictating I guarantee you I don't even want to know the percentage could all get mad of how many traders in here I don't like to risk five S&P points when I put out my trades I showed you guys the email last week of the guy that sent me above the I'll bring it up here again a little later because it's just I loved it just you should record a video of it Scott and then so you just like just watch this and and have a nice rant now I like to do it live and lose my breath every time but the point is I can't even imagine how many people on here put on trades and just say I'm risking four points and he has four points doesn't mean anything especially if the ATR is 8, 9, 10, 15, 20 right just asking for that and everybody and if you trade you know if you trade every day or you know often you know that happens not stop why is it happen on stop because the August are 90% of the trade that's why it happened not stop so stop doing it is what I'm telling you all right so let's figure out where we were here I don't think I wanted to get short there aggressively and and for those who don't have you know the size of an account to trade the E minis trade the micros nothing wrong with micros I trade them on multiple accounts I have a bunch of different accounts I trade even on us we're doing the apex that's the trader funding that's this account here we're doing the one strategy in the room because we're testing our different strategies and we're doing it obviously with so I've qualified for the apex so again and you guys just quickly go to my website you can see everything here you get this constant all this stuff on my website book map this is the apex click on that I will show my code you get the 50% off but this is the trader funding right so you know I did it if I did it originally too because I heard from a good source that they were completely the jet and it was it was a great it was a great company and I'm like you know what I'm gonna do this I'm gonna qualify try to qualify I was assuming I could qualify from you know if I do this for a living and I'm giving you a show you guys webinars so I'm like I'll qualify and I want to see if they're on the up and up if they you know give you your trading account if they pay you when you and you make money so on and so forth so that's why originally this is back in March I don't want to get totally into this right now because it's you know talking about the drawdown and everything else but point is if you're working on something or you're new or you don't have a lot of money to be trading there's no reason you can't do that and a lot you should be doing that and a lot of people are like well I don't trade the same when I'm on sim well yeah it's on sim when you're doing the tryout but it's really not because you still have to you still have skin in the game you still have to pay for the for the calm the they don't call it a combine but the tryout trial evaluation so you still have you don't want to blow out the sim account because you got to read read up the money right so it's like it's a great way where you're not risking your rent until you feel comfortable with what you're doing in here's the thing if you do that apex and you blow out you're like oh well it cost me a hundred like I do the I did 150,000 they have like a $50,000 account that's like 80 bucks or something like oh well I lost 80 bucks I what about trading real I would have lost 8,000 so that's mine and if you happen to do well then you're funded then you don't have to risk your money anyway so it's kind of a no-brainer to me but you know you guys do whatever you want but I'm just telling you the for the minimum if you're trying out new stuff say you're trying out this strategy my strategy no put an account with them pay your 80 bucks for the $50,000 account and start trading these and get good at them then when you feel good if you're doing well you're gonna get funded and even if you're not you're gonna get enough experience where you can then you start trading your real money and you're not gonna lose 50 grand right so that's the whole point on that alright any questions first and I'll figure out where I got I want to see if I wanted to be aggressive here but it doesn't really matter no let's see here any questions okay no there were some problems with your mic but no it's good and let's see comments about your rants and professional renter they are good and they grow over the webinar we did it starts off small and they build and then by the end of the webinar that's like they're awesome my whole goal is to make you guys profitable traders and my whole goal is not to have you go through 23 years of trials and tribulations you can learn so much just by my pain and you know what I do well and what I do poorly so you don't have to go through those mistakes that's the whole point that's the whole point of having a mentor right where you don't have to go through the pain you learn like okay this I got said this cost him two million dollars I probably don't want to be doing that that type of thing right Scott says don't be having these static stop losses because you're gonna get out right you don't have to learn that the hard way learn from me and then you can bypass that and speed up your your profit ability yeah so I just no questions well one I guess one is asking if you can go through like a setup about that line in red what whatever I don't understand but anyway one I put in the chat there and everyone else spot contact information you can reach out to him directly regarding course and education and mentorship etc. I don't know what he means by red line either if you want to expand on that then I can try to insert so anyway we're not in any kind of important area so I was looking here we maybe had a red lug where I could be aggressive off this setup this is ES I'm talking about just dancing around the yellow log which is a directional line it doesn't you know very choppy around this line the one thing I could have possibly done this was an old market profile composite that is a place where you could be aggressive sometimes let's actually these are the last two days so this is how I trade with market profile and I use time-based TPO's I time-priced opportunities I don't do the volume profile I know some people do I I just think these are better and I look at volume enough with what I'm doing I don't I want to have a different view of the market so I use the time-priced so this is a place you could I could have been aggressive on this on that's so you had to stop on right at the top of this right this is the current two-day composite these markets you'd be amazed how they respect these areas these are the areas that I talked about earlier where I'll pay myself as well that's the one that I missed when NASA came down it didn't quite get to the one but anyway this is an area where it could have been aggressive but it wasn't really confluent anything except for two standard deviations of VWAP so I'm fine with being conservative with this setup right meaning there's two ways I trade these again I either wait for 110% of an ATR just hop in or I wait for the ATR retest the failure so for this one I'm waiting for that and this is the problem not a problem but you have to you have to accept there's gonna be times where you get like this one here down here if you were saying I want to see and I definitely would have done it for this one because we were breaking down and I thought we were going to zero right so I wanted to see ATR retest failure well guess what it didn't do it this time and you missed this whole up move and you're sitting there kicking yourself like I just missed a 35 point move because I was waiting for retest failure and that's what you have to accept if you want to be conservative but I will tell you when you wait for the retest failure your win percentage is way way higher than just getting in aggressively and that's what I why I've changed it because I'm getting too I'm getting burned too much getting in aggressively when you see this this and this that is just extra confirmation that it's going in your favor so this may just literally come right back to the zone and not retest this first zone so if it does it does and I just wait there's always another setup that's why you guys want to be watching multiple markets so when one market sucks you can hop to another one and you can hear your alert and say oh there's something going on soybeans oh there's something going on crude right that's why and I saw there when you did the poll a couple weeks ago like it was thumbs up thumbs down and there was like 80% thumbs down of watching multiple markets like what what are you guys doing like you're not you don't want to be I understand of trying to not perfect I can't think of the word but you're trying to be an expert at one market that's fine but you you are going to get yourself into trouble on days that the trade is terrible which it's been the last few days right yet OPEX in the last two days like the afternoons have been horrendous you're gonna you're gonna especially if you're trying to do this to pay your bills you're going to be putting on trades that you normally would not put on because you feel like you have to make money that's another trader mistake one of the biggest mistakes where you know traders think this is like a job where I'm gonna make $500 a day you may you know if you're a good trader you may make $500 a day averaged out you're not gonna make $500 a day every day on a consistent basis ever never gonna happen right so you have these newbies that come in here or these you know wishful thinking people that think every day you're gonna make 500 bucks it's not going to happen so my point is there's gonna be days that the market sucks and if you are expecting to make your $500 you're a thousand two thousand dollars a day or whatever you think you're gonna make you're gonna be taking trades that you don't normally trade because you got to pay your bills right so the point is if you're watching multiple markets especially with this SI indicator right I don't know if I mentioned it's the most proper thing I've ever seen if you hear firing off another markets and you understand these setups and you understand the same thing works in ES as it does in soybeans as it doesn't go old as it doesn't soybean meal bonds doesn't matter volume is volume caught traders are caught traders and that's what we're basically trading off of right I mean copper anything any of these markets then you can move to another market and trade these setups in another market it doesn't matter what you're trading as long as you know the thresholds your ATR good to go right so don't pigeonhole yourself in one market if you do you're just doing yourself a disservice and you're most likely not going to do very well days that it's terrible and you're gonna be forcing trades and you're just gonna be algo to death all right I'm doing a lot of running today probably because there's nothing going on but waiting for that and see if we get that we did not get the retest I almost missed this but we did not get the retest of this so nothing else is fired off here in Nasdaq sense so maybe not it did of course this one my volume was down so let's see it was way up here I'm gonna get rid of this because we've tried it up and through it this is what I was originally short on it doesn't matter now because we have some new events so this was sell ice from this morning you can see we came up here again sell ice again so that's kind of important to know right if you're looking here you don't see this on a bar chart you have no idea you're like oh pre-market this is after this is right after the whatever number it was at five seven thirty came up here again more sell ice right so I'm just seeing one of this first fired off yeah this was a little bit here but this was the original zone so it doesn't matter from before but what I'm saying is it probably would be to know hey somebody big money keeps selling up at this price right around this 11 450 price right so let's I'm just gonna get rid of this and draw this in your zone I mean that that's something that's like hard to get across to a lot of people like when they're looking at book map and they they're just so relying on candlesticks and indicators and I just I kind of have a hard time understanding that you know guys I mean it's that's just it's it's okay I mean it's the standard it's the way it's been for like you know 30 40 I don't know 100 years that's why that's why 95% of traders failed for the last 100 years yeah trying to find the magic into care yeah exactly and and I mean these days I mean really this is how the way I view it in my my humble opinion here is well what could we show back then or you know just open high low close different periods because we can't show every single price action so we're showing a period and then to make up for that we're trying to show some sort of indicator of like wow that's a lot of buying and the candles went up and the up and up or bar charts went up and up and up so what is the indicator what is this some sort of percentage of this show which tries to make up for the lack of transparency here it is in book map is it's all there on the chart there's nothing to lagging if you want to know what's within a candle and where the volume precisely traded it is there if you want to see not only where that volume traded where it transacted into high liquidity it is there you can see it historically as well as current market and that's all it is it's just visual visualization of the market in a way that's just giving a lot more transparency well it's visit visualization of what's really happening right I can't say it enough it's not sort of derivative right what indicator you're using it doesn't matter like I read the other days some guy on Twitter he had a lot of followers is like price action is king what what the hell you think drives price action volume price doesn't drive itself right price is happening because the volume that's occurring like I just I just cannot comprehend people that you know play these these indicators or the price action I'm watching the dome okay well the price action occurs because of the volume right see if you understand the volume in the areas and where the traders are placing their bets that's the most important thing that's why I will look at this type of volume this is still volume right it's a bar chart but when you see these balance areas right these are traders placing bets you want to pay attention those areas when the market comes back to them right it's the same with the volume setups right so I just even even with your indicators right I know some indicators work some of the time you know I'm using the Ludwig levels and so on and so forth but I don't use Ludwig levels by themselves I use them with the volume that is and then then they're like the most powerful thing out there when you can combine a major Ludwig level with the volume setups I don't know a better regent trading honestly and I even I would say it every time right so yes you can trade these by themselves and most people I have up until now and she's been around for like you know 13 15 years so they they work but they work even better when you understand volume and you can apply the line that's why she's a member of my room because she's wants to learn and she's been learning she's been in there for a year and a half she's learning how to incorporate and make her her indicator better right the person that makes this this this indicator is in my room learning how to apply volume to her indicator so that's my point no matter what you're using you will make it better by applying understanding this volume and applying it in the areas and understanding when it's right when it's wrong so on and so forth I was just going to show you guys a lot of ranting today um oh so this so that set up in NASA to this was an opportunity where I could have been short aggressively I just I didn't even hear this fire off because my son was down you know but this was this this was this where I said I'm waiting for retest failure unless it's an important area well this was an important area that was right here so this zone was important that I had already previously drawn this was this directional connection we built a little balance here a little bit of directional conviction right and then we just moved down through here and then we came back to it that is an area where in these zones I will take trades aggressively so and then what do we just do we put in a sign tail so this looks to me like it's either going to just build balance for rest of the day or this is going to turn around and do that right so it's the other thing too with these this was the balance area this is one of my favorite trades at the time or when this happens right this was a breakdown right this is a fail breakdown the minute this gets through the high volume node which is the middle of the balance area it's just an area that is it should do that and that's exactly what it did but you can see it came and look where it came back held the high volume node right there with that buying tail this one right here the insta rejection we're at a high volume node and then what happened here now we're back to the top of that prior balance even though we'd have traded through it once it's still important and that's where we bounce so these if you would behoove you to understand how to draw these zones tops and bottoms of balance areas high volume knows about balance areas buying and selling tails directional conviction those are the more important areas of charity I will be coming out with that course too one of these years maybe when I'm like 80 I'll put that out but that's how I draw my zones so anyway that was an important zone that I could have shorted but I missed that trade speaking of trades this is starting to roll what I do want to I want to watch here and this is not surprising to anybody that has book map this is a magnet a lot of this liquidity has been in here the more these guys want to get filled it's not wow look at all the size I know it's not a lot of size but relatively it is a lot of size most people be like oh man I want to short this somebody wants to sell this really bad it's the opposite somebody really wants to get filled the longer it's in here the more they want to get filled right so meaning if something came out say OPEC came out and said we're cutting production whatever percent this market's gonna rip right through there well they're willing to keep that in there and what does that tell you they want to get filled right this isn't that I want to sell here it's I want to get filled here right like that that's the key the point is the longer it's in here the more you can rely on it to get to that to get to those prices right it's a magnet so what I want to watch here many times as it comes up to the size these algos will then pick up the size in the order book and know it's obviously an outsized order and they'll turn around and they'll push the market away from it hoping this person this entity chases price down right and then they turn around and I'll whip it right back at you this is what they do to you guys all day long right so what I will do if this comes up here I'll watch very closely and if it starts to get right here and it starts to turn I start to see the red bubbles this is where I use my bubbles right where I do you know so many guys that could book map they start trading off these bubbles and it's just not like usual I'm trying to thought oh they're trading off these bubbles yeah the bubbles are important it's buying and selling but it's still pretty damn random you want to pay attention to bubbles and important areas right meaning if this comes up here and you start seeing red I'm going to get out of one of these right doesn't mean you just automatically get out when it comes here what if it comes up here and you see blue blue blue blue blue well why am I going to sell if nobody else wants to sell right so you can judge by the bubbles when it gets to this price and here we go so I will watch that hopefully I don't forget about that I'll pull that back we're waiting for a retest of this zone here I missed an aggressive short here we have tick strike here this is my torture treatment this thing is imperative to my trading because I want to know what the these are the obviously the fang stocks the stocks that are highest weighted in the indices that the futures are derived from so we'll move you to know what's going on in these two but they just they drive me crazy because you know when we talk I talk about the solid time too it's it's bad enough putting a trade out and watching your p now go against you and then you have to hear it it's just it's literally I call waterboarding I've ever been waterboarded but I would assume that's where waterboarding feels like so you know this is an incredible product I've been using this thing for probably 15 years called tick strike again go to my website you can discuss this as well these are just meters based on from one to one to 15 so 15 being the highest and it's an algorithm that takes into consideration the speed of the order is coming in and the size and it represents it with the audio alert right so I used to use this just to know if other stuff is firing off the markets right so if I'm not if I'm staring at one market I can't see something else going on especially if I'm watching 510 markets so this would just say hey you know like we can even watch here as this thing well I'll even know as we get to that liquidity if this is firing off see as I have a set of 11 so I only know I only get alerts it starts to make noise if it gets over 11 on the meter so the last spike was 13 so it's just to alert you but then you can also judge so say for instance you can use this as part of your trade plan say for instance you you say scott I love your your theory of or your methodology of waiting for the retest failure but the way I like to trade these zones when we talked about the art the science and the art the way I like to trade them I use tick strike and I wait for a retest of the area area and if I don't hear these stocks we're not buying these stocks seriously I just I just short right away that's a perfectly viable trade scenario right for a trade plan so this is very important to highly recommend it but I will tell you you will be tortured some days I have to turn it off for a little bit so I don't break something but all right so we heard this fire off this is a new setup so worst-case scenario here now is I can trail my stop on my lung right so we will draw this zone I take the bubbles away so I can see the price line again bring this price line up just got to right click here configure visible components last price click on that then you'll get this white line that'll really help you draw those zones accurately then you come to where the spike that game started over use your little crosshair here click on that that'll give you the crosshair that spike started right here so you can see the spike started here here's the price so I go to my hotkeys that only know how to use draw that and then I try to get the bottom here of this spike that may maybe right might not be right but we can adjust that let's make this blue for buy ice there's no hotkeys for this yet but hopefully they are soon because I talked to them about this there's your zone possibly and then you scroll out to make sure you got it right I did not so you see this right so this kept coming in actually this was this this was not threshold but this was the main spike you can see I'm still a little bit I gotta go a little bit lower so I do is hit the edit function I have a hockey for that pull this little circle down right to your price that is a accurate zone then bring my bubbles back there you go so now what do I do when I put these prices in and figure out where I can stop out of this trade if I if it comes back on me 67 is the high 89 60 is the low and he did any spreadsheet I'll go to CO 67 and 60 ATR is currently be close but you want to make sure it's exact 28.2 you see right there I'm going to go short I'd be shorted 89 29 well that's where I'll stop out as well for my current long right I wouldn't go short there anyway without a retest failure of this zone so what I can do now if you see where this stop was this is why this is how I trail my stops this is how you should trail your stuff not based on your I want to pay my rent I don't want to give I want to break even on this trade if it comes back right I would have been stopped out probably three times if I waited for this to you know if I got in I'm like oh I'm gonna get in I'm gonna come out like right here it's perfect ample right I get in right here this thing moved 20 25 ticks in my favor I'm moving my I'm moving my stop to break even and then you get stopped out and then you watch that and you're like oh my god why did I get out right please don't get out go please please begging you wait for something new to come in so now I'll trail my stop here's my stop I'm gonna bring it all the way up 32 that's the stops it stops right it's you can't just hope a volume event you just can't pretend it didn't happen right so it's like this comes back stops me out sucks just like it did with naziq today right but 829 is actually pretty sorry but I gave it a chance right so it's either basically scratched the trade you see that so I didn't move this to break even because I just wanted to break even I moved it to break even because of a new volume event that's where I'll get out if not I'm giving this a chance to do that and then I can actually wait for that that that and I had to the trade potentially so we'll see see how this plays out we'll keep this little guy here so I at least can know what's going on one of the reasons I have it still waiting for a retest there or a new setup neither one has occurred has that same thing this is this is really surprising so this is what I was actually waiting for if this new setup didn't come in that didn't happen I was waiting for that and I would have gone long but now this is the newest setup so I'm waiting for that to go short but it's not surprising this thing's bouncing around between the volume events right because those are the most important thing in the market I don't know if I mentioned that Russell I could have gone long here we were talking about I missed the straightings but you can see like this is what I'm talking about guys this is I can't stress this enough right so say you play this perfectly you're in yeah I'm in oh yeah it's moving to my favorite while my my setup was down here like Scott said but you know what I don't want to get back this profit so I'm gonna move it up to breakeven and then you get stopped out and then potentially watch that happen please don't get elbowed I can't stress it enough like I tell my room if you want to do that you know just PayPal PayPal the room the money and go do something else because you're gonna lose your money so mines will give it to give it to us we can do good with it are any questions first dealer yeah sorry um sorry uh I was on mute um yeah no no no questions here let me see in discord I think we're pretty good uh I just wanted to mention something in here I and Scott I mean I forgot to mention it to you um that there's a few more um streamers that we have going uh so it's been kind of a soft launch uh and and talk about algos uh one one of them one of the rooms that we launched and it's not it's a very different room or stream is um the algo boys you'll see it in our discord channel uh but uh they're looking at you know they well it's basically uh father and sons uh trading and they looked at um or they can identify because they used to write the algos for uh well they've written several algos and they understand the behavior so when they see large algorithmic behavior uh into the market they'll mark up their levels uh and uh how do they determine algorithmic behavior well I mean because they can identify it um they know because they've written those things in the past uh and and they know I mean 90 percent of it is algorithmic behavior well that's what I'm not understanding that's where that's where it's it's really interesting um because uh you're talking about getting algod to death in here well the algos it depends on what type of algos uh those could be of course they could be naïve market making algos that are just making the market uh it could be um there's algos that look at balances and imbalances and simply that and then trade it um and move the market and that can be just so annoying you're looking for a breakout and then what happens the market just pukes uh and then what does it do it flows right back up and then breaks out you know so look for those kind of that algorithmic behavior um then there's other different kind other kinds of algos stat arbitrage you know um algos that they're looking at some sort of uh you know they're informed actors they know when there's some sort of imbalance or discrepancy with some of the um confluence or correlated markets and and finding a great price entry uh so and you know I don't know exactly what they're looking at but they've made a distinction between these algos and they're looking at this large algorithmic behavior marking up their levels and it's uncanny to see how these levels match up with these other levels so I don't want to go too much into it um I just want to say that like what Scott's talking about in terms of the algorithmic behavior um well we're starting to uncover and starting to learn more about it here with the uh with the algoboys and their discord chat room and book map there so yeah you might want to take a look at that there's also a dug plus and uh he's going through his options uh strategies in there uh really good stuff that's after tom b's webinar so basically uh we got a whole lineup here is that we're turning into like a television channel um and we got all sorts of shows lined up for you guys so amazing you give that stuff up for free I mean it's it's pretty amazing like I don't think I don't think most traders understand what they get with book map I mean as far as like how powerful it is one with the with the with your quants what they came up with the reading in the CME MBO data but yeah just with these rooms you know like you got some guys charging $1,500 a month for that type of access right so that's like that's pretty impressive yeah yeah I mean look our goal is is really simple is just to provide uh you know high uh value and and quality content and then let let you know I provide the foundation of like okay well here's how the markets work blah blah blah so that then people like you can come in and go well yeah go to the advanced webinar watch Bruce to get a foundation uh and then watch my very specific way of trading that's the whole goal uh that's why we have all these different traders in there uh tom b you want to watch tom b you want to trade volume profile go there uh so uh you know you want to trade options now you've got Doug you want to learn more about algorithmic behavior great go to the algo boys uh you want to trade stocks J trader you want to trade crypto rain uh in the morning so we're trying to cover all the bases here for you guys and uh you know scott's got a very very specific way here to trade it's it's unique uh and uh offers a lot of insight uh to what's going on you incorporating uh encapsulating many of the things that we talked about in the in the advanced webinars it's just niche very specific all right so that's my that's my rant right back at you that wasn't a rant you weren't really yelling at anybody that's kind of weak actually oh I have to work on my rants all right yeah you gotta you gotta I'll have to all be all steady rants you should have enough experience for the last almost four years of me or me but um all right so I mean I survived that move down now let's there you go you see the tick strike firing off so even if I wasn't watching I can hear like something's firing off and you have distinct sounds you can set they need more options there's only like five I don't know why there's you can't just have your own sound for these but anyway I would hear that I would know they're buying crew and you can see this is almost max buying here we go right up to this liquidity I'm ready to get out of one this gets up here and then the algos start running away from this price I'm getting out of one of these you can get up there or we can be tortured for another hour um yeah I mean what I was what I was saying is no this is how I trade I'm always open and you should be too to add something right or something hey I didn't know about that like I'll listen to those guys I want to the more I can understand about the algos the more we can come up the one trade in my room is based on algos it's based on literally opposite of what I'm doing here in the position trading we're playing for the algo trade right so it's like I'm always open don't if you ever meet anyone who's just set in his ways and not willing to learn new things that's not the person you want to be listening to right so I'm I'm never in my life say this is and I'll be all there's you never you never stop learning in this business right so I'll definitely listen to those guys and you know and the more experience you get you'll know you'll listen to something and you'll be like yeah I don't agree with that or well that's something right it's thought about you know their their room is is a very different approach uh they're just in their uh showing levels they don't want to uh talk uh you know they want to trade they're trading they're active and and it's not like it you know our our webinars are an hour and a half you're doing it as a nice service you're like missing trades because you're doing this service they're they're they're just showing their levels there are there are high quality professional grade levels and that's it they're in there though all day long so you know check out their levels and see how they match up with what you're trading and and uh right well that's that's the perfect that's a perfect example right so if they have a level at 3870 and you see a buy-stop run that starts to fail there you're like well first of all I know that's not real buying I know it's just guys puking and it's failing and I know it's their levels that are golden this is what I'm talking about so it could be anything it could be your vibonacci it could be mac d or whatever the whatever whatever you guys put on your charts right they're they make sense and they're most important when you get the mind set up in that area right so that it's exactly the same with them so I'll listen and watch the levels we can mark them down and hey if you get a volume of that there that's even better it's even it's just it's called confluence right the more things you can I'm talking about anything I'm talking about even VWAP right we talk about I don't usually put on trades or take off trades at VWAP but if VWAP is confluent with something well then I'll take that I'll keep that in mind right we are um it was like Davey for yesterday we were short crewed and I saw VWAP was confluent with Baby Lug these are like minor level levels and it was confluent with like a point of control of a of a market profile composite right and I'm like okay I'm gonna get out of a couple there so absolutely right so you wanna my point is that these areas make way more sense one the more things that are here like this is VWAP this is this is yellow lug then if you get then I'll be all my pain the volume event then that's that's a golden place to be trading either way it breaks from that event because you know that's an important level and then you wait for the real-time volume to confirm that area so the same thing with the algo boys or whatever they're called and yeah anything that you're using yeah absolutely it's the same thing it's like you're looking for your event or your your way of trading uh and then you know your your higher time frame levels then you're looking at the order flow to give you the direction exactly because that's the most important thing you can be looking at again you guys will wake up in a sweat hearing me say that Scott one of these days I'll come down and visit you in Arizona and I'll try to play golf but I'll likely just sit in the golf cart and drink beer but um you'd be a blast though I'm a scratch drinker that's what I was telling you I'm like an eight handicap but I always say I'm a scratch drinker it's probably not a probably not a good thing but I can't golf without drinking that's that's my problem but yes you're more than welcome anybody actually wants to come to Arizona and get beat down on the golf course come on down I'll give you a little beating you know there's some scratch players on here like yeah that's a bit like okay I'll just know what I'm there probably some good guys if you're straight we got we'll play with handicap you gotta give me strokes but I'll I'll bet you not a big gambler but I'll give it a shot that's sarcasm by the way that was pretty that was pretty good you you could bet like uh your course or something like that you know absolutely yeah there you go all right so just nothing going on stalling in between these zones and nasdaq remember we're waiting for this was before so I'm not trading off of that this is the most recent so I'm waiting for a test of that or something new same with the yes looks like it's gonna head right back down to this zone which would not surprise me at least because that's how it works actually I want to keep stay on top of this ATR though it's not as important for the position trading because it's a slower moving thing but for strategy working on the room you gotta and I don't want 20 I know that because well for instance to say we get off the webinar and nothing happens and then we come and we go nothing happens meaning a new setup and we do this this this well it's like okay well where do I short well this tells me because I put my zones in and then you want to make sure your ATR is current right but as of right now I would short if that retest had failed I'd be shorting at 57 and a half right that's 110 percent of an ATR below that zone so that there's there's always nine something right now so it's just outside an ATR so if we go here here here there's 57 and a half that's where I would short it and then where would my stop go my stop would go 80 and a half numbers can 23 ES points I can put on 2.6 I'd round up to 3 or you can put on 26 micros there's nothing wrong with trading micros guys nothing I want to trade micros especially if your account's not that big if you have a 5 10 even 15,000 20,000 dollar cowl you should not be trading normal size products you can lose a couple grand on a one lot in ES and heartbeat right so it's like you know if you have a 20,000 dollar account that's 10 percent of your account value it's very easy to do suggest trade micros again this don't email me for this spreadsheet this is proprietor I mean my trader you join my trader when you get access to the spreadsheet right but you want to you know you can go maybe see if there's something else like this out there but you want to have this something like this where you can judge how much you should be putting on because if you're over trading your account you won't blow out so this will bring me to the apex stuff right that I said I don't want to get into earlier but then there's nothing going on so the apex makes it it's hard when you first sign up because then you can do all these different accounts right so I did 150 right so this is really important to understand so you've got to make you got to trade a minimum of 10 days you can put out 17 contracts you put on 17 contracts you're going to blow out very likely unless you get lucky plus they don't that's why they make a trade 10 days to prove that you didn't just make put on one lucky trade so anyway you got to make 9,000 before you lose 5,000 but it's not just lose 5,000 so I can't tell you I think I've blown even in this live trade that I'm doing where it's live now we're doing the the reversion trade I've blown out of it I've qualified twice live and blow out of both times but even before let's just go back to the practice one right so trailing stops 5,000 I can't I've probably done this 10 times now where I'll make what you see you start out at 150 grand right I'll get up like seven seven thousand dollars I'll give back five I'm still up two thousand dollars total but I blow out of the combine because you'd have a trailing threshold of five thousand dollars and that makes it makes it very difficult you know it teaches you one how to manage your risk right because you can't you know you don't want to get so close to your profit goal and give back so you've got to start to cut down your size so on and so forth just teaches you the right way to trade but that's what's so hard about it when you go live it's the same thing you still got to make that amount you got to wait 25 days to get 25 you got to trade 25 trading days to get paid then you can request once a month but so say for this instance I do the same I go up 7,000 again well this time the trailing stop will go from you know when I first started it was at 150 so might the day I go live it's at 145 right you get a five thousand dollar cushion but as you get above that five thousand higher now I can give back your trailing stop goes to 150 150 100 so I can give back the full seven thousand dollars before I blow out versus 2,000 so if I go up 20 grand I can get back to full 20 if you're on the say you're on the on the trial you're up 20 grand well if you get back five you're done so that really sucks if you're up 15 thousand dollars you blow out the blow out of the account so that's what you got to be careful of with this but it's now again there's no reason not to do this because you have to money in right so if you want to do the hundred fifty thousand dollar account cost you 297 if you use my code right there then so it's still still got to put in 106 whatever 150 bucks right so you still have skin in the game so you don't want to lose you're not going to just put on these random haphazard fast trades you know because you're got to ante up again and when you blow out you got to put up it'll charge you a monthly 150 bucks but if you blow out you can re-anne for 80 bucks so it's still money so you will learn to trade and it's not just you won't just be like I said trade and have ass because you're on sim because you are risking your own money and again if you do well then you're funding right and if you don't at least you're not you're losing 80 bucks versus 8,000 right so that's my rant on that but you just got to be aware you can be profitable and blow out of the blow out but this is the best one I've seen and that's why I promote them because and that's why I'm doing it myself and did it myself so on this current one you can see I'll show you this right now keeps track of all your stuff here let's see this is the PA right then you go to count summary I don't know why this one's still in here this so this is a perfect example this one I was up five grand I blew out of the count so this is just the practice this is the live one so in the live one currently I'm not in grand I traded 13 days so when you get to 25 days you can start pulling out but the the first I think through three draws the first three draws the most you could pull out is two grand which is all you want to do anyway because this counts as a draw down so if I so say this is 25 days now and I want to pull out I could pull out two grand well guess what now my now it's like I'm only up $7,000 so now if I pull back to that's drop dead I'm only $7,000 away versus nine because I took money out so you definitely want to let this this just makes you let your account grow so you're not pulling out and then you hit your threshold and then you you lose your live account see what I'm saying so highly recommended again see the code on my site pulsini 50 all this stuff you get these discount so um that's about it that was the rant on that one I am this is just horrible trade nothing's going on I'm still in this crude trade I told you I probably get tortured for an hour and that's what's happening we're waiting for a retest of this sound or something now we're waiting for a retest or this sound something new no nothing else is going off in any of these markets she looks like I missed a net guess set up I might have this on it was right at the number that never came out today but let's see what this was here it's basically just balancing in that zone no it's moving below so let's draw this just to see granted like I said this is that right at the number but this was threshold to use 150 for for net gas so let's draw our zone here and remember you want to go with a spike right line that's right there but that was guys it's it's on candy look at this it's unbelievable every time I miss a damn trade you guys seen this setup before I don't know I've talked about it 85 times in this webinar here you go so disturbing so I don't fall for missing it but it's like they are just perfect when I miss them I'm there's no sweat whatever you had set up here's your ATR here's your retest and another perfect example so say you were we're all over natural gas you're like I wonder why Scott's not taking this trade how many could short there you go there's your ATR outside of here you risk above here guess what if you put on your short there and you said I want to write I don't only want to risk 30 texts guess what you get stopped out then it goes this is why you want to put your stop outside of the volume event anyway it did it once it did it twice it's not a coincidence it held right in that volume of that area and then die I don't know if you like to undertake trades this was the trade for you look at that this makes me sick to myself I knew I couldn't get to this webinar without wanting to break something but this one hurts I should have been short this market I don't care where we were I would have shorted it because this is the conservative entry I mean you're seeing it smack you in the face this is not a coincidence to stop right in that zone and then fail and then now it's getting killed right it's like it's the most powerful thing I've ever seen I'll say it until the day I die so here so if I was short which I should have been this is sort of disturbing what are you seeing here here's your story one this thing couldn't make it to the top of this composite and now we're breaking this breaking out I would be short and I would be either waiting for it I'd probably get out of I probably would have got one right here as an example of confluence right baby lug confluent with the bottom of this with this market profile composite so I probably got a couple there actually so say I was short like four that's pretty much what the size would have been that's 59 around 48 right by the way that noise is them slamming natural gas of course and then I'd be waiting for major lug we're opposing setup here we go and I get out of the rest right here this was a huge trade 240 ticks it touches this blue I don't know if you guys like those or not but that this hurts I'm not gonna lie this one hurts I could play just that my volume was down I didn't even hear the setup for learning purposes you guys are out here to learn that's what you see I probably so in the look hey just disguise it is this guys and girls it's the same stuff every single day it's the same patterns every day what would you have seen if you were doing your thesis when you brought up this today hey look at that hey look at that I wonder where the market's headed what do we just talk about about magnets here we go this will get filled it might run away first because this is the most algorithm market out there that's why it looks like a Christmas tree right I can be getting I would already be out of one here because that's the baby lug and then mark about the positive but it's your next window I will promise you I will bet I'll bet anyone if you want to bet around the golf both of these get filled today it's just so the point is you use this stuff to come up with your thesis like you look at your bar charts and everything else you're like oh this looks this looks like short today and then you pull up your book map and you see and the liquidity below you're like it's go time give me a setup I'm short boom there you go again if you like 250 tick trades let's see where this stopped yeah I got a little bit these zones from all from all from before but there was really nothing on the zone stuff but I would have been short that one hurts I get that off the screen before I break something it's not a 250 tick trade is the one I'm in of course it's instead of torture treatment any questions Bruce let's see you get to talk me off the ledge on that trade that one that one hurt no no no questions we're we're good all righty I like this golf idea though like take Scott on and see if it bet around a golf and bet his his course so here it is in the I'm putting Scott's contact information again into YouTube and discord for you guys so this is like what Bruce was saying like I missed so many trades on these webinars and it's fine but it's like this this one hurts like I just didn't see it because I'm on one screen for the webinars and I'm not like scanning my stuff I had my volume down because I didn't want you guys to be distracted by the my news service and I miss this trade this this is like this is gonna be a three look at this right it's going right down to this next liquidity we have 300 tick trade so why don't you just get in and put a stop at like five ticks I really know you're really sit really you really want me to break a screen out of it sorry yeah I just couldn't help it could happen now on risk 20 ticks you know uh JC is asking how close you are to Scottsdale so I'm in Scottsdale oh well there you go JC you got his email right there so give him give him a shout all right well nothing going on guys and we're hitting the 938 and this is when your other guy starts talking so I told you what I'm gonna do here you know barring something new coming in I will short that I'm still along crew this is trying to come back to make me even more mad but like I said I'll just scratch a trade wait for something new you saw that natural gas trade that one leaves a mark now I still think these markets are gonna break so what does that mean well first of all real time what do you see here as a selling tail that is not bullish right now I was trying again I think if this gets below this one again I think we're coming down to minimum here and this is an important spot again level right well I have in mind what I think is going to happen but I'm ready to pivot first and foremost but I need to see the real-time volume then I'm ready to go so if I think this is going to break then I see a short set up you can that's like an A plus trade to me right you can trade bigger size remember you don't want to be risking more than about five to six percent of your count size in a day but that doesn't mean like I told you I told my room all the time I think I said it many times in here where I first got back in the business I was training with SMB future or SMB they're all over the internet you guys know they're the trades mainly stocks right I was gonna learn to trade stocks instead of futures because I was so jaded by futures and you know being a millionaire and then not so I was gonna trade stocks and they literally ground their traders if they get an A plus so they have their playbooks right so you should all have playbooks based on you know you can do it off what I'm telling you come up with your own stuff with your rules so on and so forth most important factor of trading obviously but if they would get their playbook and they would have an A plus set up they already had laid out and they would get it and they wouldn't trade at least double size and they would be grounded the next day meaning they would be put on the sitting there so meaning you don't lose more than max six percent of the day of your account size but that doesn't mean you can't put on four percent of the trade we just got to know okay this is my A plus setup I think this is going to break here's my short set up I'm going short I'm putting on four percent well if that loses you only basically got one more bullet risk and you know the normals my normal risk is two percent you get one more bullet you lose on that one you're done for the day got to be able to respect that and accept it doesn't mean you can't trade bigger in certain situations so my point is this is telling me if this gets back below here this is an A plus trade I may put on a four percent trade versus the two percent and that all you gotta do here if you have anything like this or come to my room and you get it that you just make this four percent right there it is and then changes all this and I could put on five versus two point six right this is the most important fact making your playbooks and then respecting your your limits or your risk is the absolute most important part of trading because I don't care how good of a trader you are if you don't have money to trade you're not going to be trading so you have to respect your risk I've stopped out of crude basically a scratch this one didn't rip 250 ticks in my favorites shockingly let's just take one more to luck before I have to take a walk here yeah so what I would do here um I think this is actually right at blue lug I'd probably be out of everything right here let's see a good way for that if you are a shortgath look at that well that's real surprising noticing this this routine things that are just seriously and so what do you have here I would be out of this trade right now I wouldn't be waiting for that liquidity you have blue lug this is actually a day value area I don't really pay attention to single days but it's some you can note here because it's confluent and what are we this is VWAP this is one standard deviation known as daily value area one and a half two two and a half standard deviations where you get the out was that snap it back blue lug prior high buying our top of a just a one day one day value area that's where you get out and then you wait for your next setup this this one hurt not gonna lie but good education for you guys and this liquidity I filled this one probably be filled too but what would be ideal actually if this did one of these the snap back up here oh of course of all because these guys got to get their fill right wouldn't surprise me in the least if these guys these guys so let's go ahead and push it into our orders here you know what I know what's going on because this is what I used to do right you're offer up here you get filled and then you start to sell it and then you push it into your bed it's just one big game guys if you know the game you can complain all day long that these are manipulated markets or if you can't beat them join them you hear me say it every day it's the truth and that's what you get from bookman all right I'm done not a lot of trading so again I think you're at some decent education here you got to be around a little bit oh I got Bruce all right sounds good well thank you everybody and the webinar recording will be up soon Tom B is next if you guys want to continue the education he will be trading volume profile so take a look for that it's over on discord as well as here in YouTube yeah thanks Scott like yeah I'll reach out to you there's some other things I want to talk to you about some new developments and etc some great things coming out and want to share with you and then we'll be sharing with everybody here pretty soon as well so looking forward to that and yeah have a good weekend Scott and we'll see you next Thursday awesome appreciate it you guys next week okay bye bye