 Good morning traders and welcome to the book map live trading webinar today with Scott Polsini a futures trader We do this every thursdays and well and the goal here is all in line With the education that you we offer here at book map We have an educational course We have the advanced webinars that go through that educational course in the live market So you can apply what you've learned and then you have the live trading from Scott and from J trader stocks and futures traders so that You can learn from others as well. All right, so they will be taking life positions in here It is an in demo paper trading mode, but peek over the shoulder of a professional such as Scott and He's got some unique history here that trading 10% of the S&P back in the early 2000s and anyway, the Contact information from for Scott is here. He does offer a trading room a trading course You can go to his website. You have his email here as well. If you want to reach out Let me go through the disclosures and we'll turn it right over to Scott and get started Okay, general disclosure all book map limited materials information and presentations are for educational purposes only and Should not be considered specific investment advice nor recommendations Live trading is in simulation demo paper trading mode and strictly for educational purposes Live trading executed in simulation cannot accurately represent realistic trading performance Risk disclosure trading futures equities and digital currencies involve substantial risk of loss and is not suitable for all investors An investor could potentially lose all or more than the initial investment risk capital is money that can be lost without jeopardizing one's financial Security nor lifestyle only risk capital should be used for trading and only those with sufficient risk capital should consider trading Past performance is not necessarily indicative of future results Scott. Why don't you go ahead take it over and We'll uh present your screen here Okay, you got me brister. Yep There it is Got it Got it all set All right, so the rare rare signal in the yes I mean, I was out of town a few days, but yesterday was terrible trade and the afternoon anyway Um, so we finally have a signal area at uh 1500 buy ice 500 stop runs. This is what I call a double whammy. It's the the money puke into the weighty hands of the um The big money which is the buy ice and you can see right now. They are not correct It's one of my so this would be a broken double whammy and the way I determine that Where is my drawer? You know if we are able to so I draw these volume events and we'll go over how to draw them Here a little bit. So this drawer thing gives me uh update every day and then it still doesn't work. Come on one second Sorry Did not test this out before I started All right, so what I was saying is this is the volume event here and we had a This is the zone we'll go over how to draw these but this market definitely has moved more than an atr Five minute atr. I use the five minute Wilder's atr. This helps me judge the current volatility of the market, uh, which is right now 8.2 points So means it's ranging its range is about eight points Eight and a quarter points every five minutes for this period. So The way I judge these and whether they're bullish or bearish is if the market is able to push At least an atr away from this from this volume event, which is obviously did play and then some right, so I trade these one of two ways. I'm either aggressive out of the Area if I love the area I have a strong conviction of what's what's going to happen Based on everything else that we'll talk about today Then I will jump in the minute this thing gets in just outside an atr 10 percent of an atr 110 percent of an atr away from the zone. I will go short Or I will wait for You know the atr or then some then a retest and a failure then I'll go short. I'm waiting for that I'm still a little hesitant to short right here Even though these markets look like they're about to get killed You know, they're already down pretty big today, but you know bigger bigger picture stuff These markets do not look good. So So we look at the way I trade as I look at market structure Longer term and I try to you know, I'm a day trader and I'll trade both ways But I want to see where we are in the bigger picture. So I'm not standing in front of huge You know balance breakdown pukes on and so forth and then I also judge on what happened in that structure What should have happened so on and so forth. So you can see here We had a And so it'd be incised for by zs 200 what I would call a fail breakout Got through the high vibe note of this this market should have done this it didn't When when the market doesn't do something that is expected you can expect multiples the other way and that's exactly what happened here. We ripped about 200 plus points up to here and and then we failed Back down here. So Overall, you know, this is looking We had to fail then you go to more current structure. You had to fail breakout kind of like this was a failed Breakout here. This one held but this one obviously did not and then we just gap down overnight From here and we were right through That high volume node and now we're into this high volume node of this balance area So this this zone right here is very very important where this market could bounce Um for right now, that's why I was a little hesitant. I'm going short. Where is my shirt? So this could bounce right here. So that that's why I'm waiting for retest failure To go to potentially go short. I'm not I don't love this area to go short Even no bigger picture. This thing looks like it's going to die and it's going to even more pronounced in NASDAQ We'll look here in a second, but this is an area where So I draw my zones on my charts in the four important areas of charting Tops of bottoms of balance areas high volume nodes of balance areas I don't actually draw the zones for those just because it's too much of my chart But I you know, you can just eyeball these areas and know where the middle is. It's just an area It's not an exact price right and then directional conviction and buying and selling tails Like this would be a tail here where this zone So you'd be amazed when you start drawing like gaps and things like that you'll see all these different um things that are in the same area, right so This was A gap up this day. This is where we closed and we capped up to here And then we put we came down right at the open instant rejection That was a buying tail and you can see that held At the time being it held here and then we had a huge gap that led to this huge move up, right? So this is where we're at right now. So I fully expect Some kind of bounce here That's what I expect But I'm not going to the way I trade so if I was just staring at this chart I would be like, yeah, this is a great area to go along right because this is where this started This is a straight we gap down all the way some of the best trades out there are when you get straight B line moves into very important areas, which this is one of them for the fake right and So if I was looking at a just as a bar chart here, I would be taking along here But the way I trade is trading off of The real-time current volume events, right? So I am not going long unless I get a bullish event This was not a bullish event because it was able to push an ATR and then some below here So I will I'm not going long off this if this could have held I would have taken a shot if this moves a little lower and I get a bullish event I'll think about it. But for right now, I'm waiting for a retest of this area I want to see a failure and then I'm going to give this shorter shot It's still a little risky in this exact area I'm a little nervous to do that just because of the zone and we're near the blue lug, which we'll go over here Um, but I can tell you if this market gets through this zone You know, I had a longer term zone here But a lot has transpired since I drew this zone. I mean, this was, you know, direction conviction, directional conviction this whole here I I think we're going to get one of these. So Again, I come up with a thesis every day and I'm ready to you know I come up with if then scenarios and I I have to pivot when training you have to be ready to pivot So I think if this gets through here, this is going to be a huge move lower What I think is also going to happen right now is this could hold But I need to see a volume event to go along is what I'm saying. So I will go short I'm a little nervous into this zone that may hold for now Uh, I think it may it will break but probably it'll probably take a while a couple tests of it today And then the other thing that I look at are these What we call lugs lug wig levels you can see This is So the blue is The blue and the red are support and resistance They're incredible for day trading, especially with the volume events And then when you can overlay them with other areas a k confluence, they're even more powerful, right? So you can see right here right now. We may bounce blue lug extreme standard deviation of ewap I'm not really saying anything and Market profiles as far as this is the next this is where I think we're headed today But again, we'll see but for the time being this could bounce But I'm not taking in long until I get a volume setup So this is why I'm hesitant to short so the volume event that we just I just showed you is up here Right, so I would if we do this and we do that I'll take I'll give it a shot into the blue lug I know what I'm what I'm going up against I would love to see that and then see the relative volume pick up and then I think we can Pierce through here, but My issue is I rather wait for some kind of bounce What I would really like is this market just to rip up through this Most recent volume event and give me another one further away And then I'm I would love to share it because if anything at least I have some room to the blue lug Right, so it's just a trick area is what I'm saying It's just a long way of saying this trick area But I still will short this because my main driver Are the volume events and how the market reacts to volume events? So this got it on ATR this retest this fails gets in 110 percent of an ATR I will short it and all these values are already in my speed In my spreadsheet and my room helped to develop this Thanks to them it's much easier for me. So you just put in literally the Current ATR 8.12. That's close enough. This is the zone that I just showed you so if I want to go short I know one ATR away from that zone was 3941. We obviously got to that. We got well below that Right now if we retest the zone and fail and this is my position trading strategy I can short it 4025 based on my account size So risking that amount you should never be risking more than one and a half to two percent of your account size in any individual trade And five to six percent of your account size in a day ever you should if you hit six percent You should be done for the day. There's always another day. Your things just are not clicking that day That's the way markets are right. I'm not going to go to that rant today But you guys hear it every webinar most important part of your trading if you're trading too big I don't care how great of a trader you are. You will blow out your account on a bad day eventually So he this advice number one So I can go short at 3940 quarter and my stop would be 3961 and I know traders and we can talk about this every webinar as well But I what I got a risk 21 points on this trade. It doesn't matter what this is This is what adjusts if you are trading a percentage of your account size, right? So the current volatility tells me if I want to stay out of the noise the algo noise This is what I have to risk and the way I trade these amounts as I force these markets to You know, so again, I'm waiting for a retest failure If I go short here at 40 quarter Well, my stop's going to go an atr plus 10 above the zone and that forces these markets So I stay out of the nonsense the algo which is 80 90 of the market the trade where it's just basically random Back and forth that are stopping traders out. I will force this market once I'm short to get not only get through the volume event An atr plus 10 away from it and then I'm wrong on that trade and I move on to the next one Right and everything is already it's not that I'm just trading by feel with my size and so on and so forth I have everything laid out here my prices How much I can risk where my where my entry is where my stop is and then I just follow my rules Right and you just trading is a percentage game and you just have to keep taking the trade If you have an edge and this is the edge that I've the best edge I've ever seen in my 20 plus years of trading and guys here every webinar And I'll keep saying it and saying it and saying it because this is what drives market markets I don't care what indicator you're using You know the Bollinger Bands Mac D the Benachi It doesn't mean anything unless You you have the big money playing there or the dumb money so on and so forth meaning volume events Right because these are basically trap traders. So In this instance the paper came in and bought 1500. They're not feeling very good right now So a very basic pattern that happens non-stop as you move away every test of the area and then it fails And that's what I'm waiting for again. I already have everything mapped out of what I think should happen based on this volume event and My bigger picture view Again, this looks bad enough that I'm willing to short this Normally, I would not short this even with retest failure into the blue lug, but I will give this a shot But I'm still waiting for this zone to uh dust So it's actually what we're waiting for paint to dry as usual lately. Let's take a look at what's going on and So this is what we talk about all the time too. So when you you know, you come every every morning Whatever markets you're trading you should be looking at multiple markets So you can one market sucks you can move to the next one, right? So you come up with a bigger picture view And a thesis kind of like I just did with es actually before getting into this Let's just quickly look at nasdaq show you this one looks a lot worse As far as being able to see so this one was a Basically perfect balance area and you can see this balance just just imagine it is traders placing bets, right? And when one one side is wrong, that's where you get the puking. So this is a Legitimate failed breakout of the structure. It tried to move higher failed yet another Smaller one tried to move out failed now. We are through this high volume node. This is not looking good for This is a lot easier to look at than the s as far as Slap you in the face structure, right? So now we got through Got this balance area here. You got this little guy here Through that one coming down to that one. This is an area where this could bounce temporarily, but overall I'd say over the next few days And fridays tomorrow's opex as well after that Expires all those options expire. I'm expecting one of these Why because this had its chance to do that and It didn't That's telling you be ready to the downside. Does that mean is this going to happen today? No, but bigger picture Bigger moves, you know, even if you trade longer-term options. That's what that's looking like, right? So I want to try to position myself on the short side of the market So I mean I won't take longs. No, if I get a volume setup like you were just talking to us If I get a volume setup that shows me long right now, I will take it I'll be very cognizant of the fact and be ready to peel out You know because even when markets are getting killed, you do get these shorter-term bounces, right? But I know from what I'm looking at that the bigger move is coming is going to be down Should be down. That's my opinion, right? So and it's from my experience of watching Markets for so long. So that's what I'm waiting for. So anyway back to what you want to be doing is you want to be looking at your markets overall For the structure. So what do I see in soybeans here? Well A lot of times you're going to get conflicting information as far as you know, which way you want to be which side It's not always as clear-cut kind of like the nazik and es look like they're going to die right now Like this is bullish. Obviously, this is a huge balance. We're above This balance area here, right? And you build balance, but now something's changing here a little bit Granted bigger picture until we get through this high volume over this balance area We probably still want to be looking for areas to go long, but right now over the last few days That's a balance area. That's a balance area. So this marker tried to bounce out of this Move out of this, I should say and then build balance now. We had a fail break failed Breakdown of this balance and then That's a fail breakout of this balance right to the high volume So this to me looks like we're at least going to pull back to this area This market. So this is what I'm talking about conflicting information Big longer term. This looks long shorter term. This looks like this is going to get smoked at least now in a year right, so meaning Longer term. Yeah, it's bullish, but will I take shorts? Absolutely, especially because this shorter term structure is telling me this Right. So and we just heard some volume setups. We're about to break this zone so I may Based on what I just talked about I would be willing to take a short aggressively If if these by the current volume setup, but I don't know what it looks like I'm gonna find out right now It tells me to go short right based on based on what I just talked about. So this is 400 by ice We had some big by ice at the open 600. That's a ton threshold for beans is 150 So this is you know, five six times and then you had another 400 here. So you have over a thousand by ice right here and I didn't count that so you had 5 550 so that's 800 thousand 1,400 by ice that is an absolute ton Right, so I'm gonna draw This most recent event and I'll trade off that but somebody's trying to hold this up right so, you know We talk about this all the time too as far as you know, is paper always right? Absolutely not Would it behoove you to try to be on the side of paper? Absolutely because they they move the market they run the show right but when they're wrong It's you get the same kind of effect as when the retail trigger is wrong, right? So This area is really important put it that way. So somebody's selling a ton of them and Somebody's absorbing a ton of them. So this is what we look for. So, you know You could just draw If you're looking for a bigger picture type of you you could incorporate draw zone incorporate all of this by ice Right because whatever way this breaks. You're very very likely to get a big move This is the vine. These are the vine events. These are traders that are loaded up And when this starts to move out of here, you're gonna get puking. So that's what I key off when I trade So let's just draw this I think I already missed this but You'll see Let's take a quick look at es here. So I'll miss this trade, which is my ammo on these webinars Pressure retest That came within yeah, so that got within So 4850 was So you could see this is exactly this got exactly where I thought I would get As far as this is what this was this is considered a retest I got within 10 percent of an atr of the bottom of the zone. So that is a retest here's a failure Now I need to go short basically right here and I forgot what size I need to put on I said 40 50 So I would not have been filled there, but Again, this is a riskier trade off of this volume event because the blugs here that zone's here, but This this is my pattern. I look for and I'm going to take the trade. Yeah atr plus. Here's your retest This is considered retest because it got within 10 percent. Here's your failure. I will go short if I get filled there My stock goes 110% of an atr which is All right, so we will hear if that gets filled and then we just got another volume set up In here that we can draw on So somebody is buying the absolute bejesus out of this out of these soybeans So that's great information if you're staring at a chart you have like if I told you if you're fine Like if I'm just staring at this chart right now, I would have already been short I've been like, oh, this is this is a fail breakout This is a breakdown through that I want to be short But I'm not do you see me putting on shorts right now? No because these volume events are not showing me short Yeah, and this is the driver of the markets not You know, yeah structure is the driver of the markets as well, but this is what's happening right now And that's what I key off of All right, so let's just draw. I'm going to incorporate both of these because here's basically back to back This is another 700 ice. So let's draw this Gas number come out here. That's this tedious any update on these drawing tools Not at the moment All righty I'm used to it by now, but it'll just be awesome to have At least hotkeys for there are hotkeys, but not Total hotkeys total control. All right. So here's the zone 74 75 The bottom of the zone is 71 75 that incorporates all this ice right here So I'm going to put that on my spreadsheet put the ATR and then I'll know I can trade this Like I said, if this area breaks, I'm going to trade this aggressively to the downside Because of what we just talked about in the structure, right? So I come over here and again this spreadsheet is part of my trade room I trade live twice a day almost every day You get access to this and it's much much easier to Know your prices so on and so forth 74 75 is 71 75 I forgot my ATR showing Current ATR I could see it there in the middle left 2.46 So once you put all those values That'll be where I can short because I'm going out. This is another strategy. We're trading in my room. It's more of a scalping type of strategy Way more active than the position trading But I'm right now we're doing position trading so I could put on based on my risk It's on my risk. I could put on seven and a half CS. So round up eight I can go short remember I said I'm going to go short this market aggressively And I'm filled out in the short NES Let's come we'll come back to beans here in a second. I'm short here based on my spreadsheet So like I said, this is a riskier short based on all this What's going on in this area, but I'm willing to give this a shot Um, so I just shorted a 40 quarter. I stopped out at 61 75 Here's my mo of course filled to the exact tick If you guys knew how often that happened You would be amazed 61 75 I know every trader says the same thing, but it's just again at least I trade publicly So I I have backing for this happening. I mean Bruce is probably seen at 500 times just in the last few years of these webinars, but It is what it is. I'm short All right, so let's all right. So for the beans So like I said at the beginning of the webinar I've wanted two ways of trading this I will either trade the minute this breaks from this area 110 percent every ATR or a way for ATR retest failure like I did with the yes This one based on what I just talked about Shorter term. I think this looks like it's going to get smoked. The other thing I do need to check that Yeah So this is again, this is a yes. This is why I'm still nervous about I mean We need to get through this blue lug and build new lugs and then it should be Onside to the downside There's beans All right, so we're not that close to blue lug. I'm okay with that It's actually a good example. So Market profile wise I can merge these two days into a composite profile, right? So this was yesterday This was the day before This day over left this day by more than 50 percent So I will merge those and you'd be amazed at how powerful these market profile composites are And they're just something that I look at to help with my thesis and judgment areas to help get out of You know piece out of the trade and you can see this market opened up And then what you want to do is try to come up with a story every day of what's going on So this market what story did you get for this the market opened up into the top pretty close Right out of it. Now it's threatening to get back inside here So this is an area a good balance, but I will you know, and we have all these volume events So you have all this bias here. We already know that so this bias is wrong We're inside this prior composite and when markets get in prior composites you expect the other side. So That's a natural gas So if this if this can break this area So, you know, if I'm staring at this without volume, I'm like, okay, I want to be short now. I have a lime event Which is my driver now that breaks now. I know. Hey, we're breaking into this and we have that broken ice of like 1500 by icebergs that are wrong, right? So That's why I'm willing to short there as well aggressively. So I'm willing to take this aggressively Meaning I will get in immediately on an immediate break ATR 110% and ATR below that zone Which is I'm 1469 I could put on eight. I stop out of 77 quarter So we will set this up as locked and loaded So the other thing that I was getting into this earlier and I kind of got off track No, when you're looking at Excuse me bigger picture stuff in the structure and market profile and you're coming up with your thesis for the day What you also want to do we talked about this every webinar since I started doing webinars Even when I was doing stock webinars for for book map Look where your liquidity is This these are magnets this these are the big players They will force this market into the into these orders. Again, how do I know that because this is the game I used to play every day. I would put orders in the order book I put thousand lot or whatever and then I would start playing games and start to sell start to sell See how the market would react and then if there was no one like fighting me And then I would just step on the gas and I get people, you know, you can see the flurry of activity I would make it look like there was a ton of activity there was because of me But people would jump on my coattails then I push it right into my bed. I'd be out of my trade Next So that that's the routine right so it behoove you to know where this is so you can see the difference Really nothing up here is relatively I'm not gonna trade gold right now So this is another factor we talk about the scale all the time the old-fashioned scale when you're deciding which way you want to trade You're rarely going to get everything in one direction, right? So on the bull side You know, this is the top of that market market profile. Obviously ton of buy ice here. That's that probably Represents a more than one check mark But on the bearish side, I know that we had that structure that failed Break out of that structure break down on the structure that we just talked about We failed out of that market profile And we're trying to punch in that other market profile just showed all this and then I know there's all this liquidity down here I mean there's some here too. So That looks like that to me. So that's why I'm going to be aggressive on this trick All right, so two different entries and yes, I waited for a tier retest this one. I'm getting in aggressively So we will just wait beans most of the time move a lot slower so that could be a while So again, this is why I wanted to be sure of this That is a failed Breakout and a breakdown do that I expect and then I will watch this zone very closely What's the zone? Well, there's a bunch of stuff over here. You know directional conviction selling tail or selling tail Directional conviction Directional conviction and then a gap most recent gap, right? So You know, if I do get short, I'm going to watch this area very closely to see how it reacts And then probably be out of most of them Any questions with all that any of that first No, sir. No questions at this time Okay, let's see what this is doing to me. This is just basically blanching around here It'd be nice to just go one tick below my entry just so I can not complain. Let's see Oh, we did actually that move. Yeah Of course, it's back. I couldn't even enjoy the move down there. It's already back. So this guys, this is what trading This is what goes on the majority of the time, right? So if you got short there and say you guys are like, oh, I love that short idea I'm gonna go short with Scott you get short and you get this you're like, oh, I'm gonna I'm gonna I'm gonna move my stop down to break even. Well, now you're stopped out Did it do that? Yeah, could you possibly save yourself money? Yeah, but this is just nonsense trade This is these are algos You don't think the algos know that traders trade their stops Then they when they know the big money is not really playing there actually was something here It wasn't a ton, but this was not my threshold. I looked for 700 But my point is these algos these big firms they have the same information So when nothing's going on in here, you know, the big money is the algos worse nightmare But when there's nothing going on which is 80 90 percent of the time Then the algos start playing games with your money and they take your money and you trail your stop And you get stopped out Then you watch it drop 50 points and you're sitting here beside yourself for the rest of the day Oh my god, why did I get out of that trick? Right? So this is what I fully you have to condition yourself This is against human nature or watch this kind of activity. This is why traders struggle Why do you think I gravitated to being a scalper in the first place back in early 2000s? Because it's very hard It was very hard for me to sit through this nonsense, right? But you know, it takes watching this And understanding what to expect then it doesn't bother you as much. Yeah, it still sucks You know, especially if you think you got it and then it comes back and then this yeah It drives you crazy But you condition yourself after a while to just understand this is probably what's going to happen when you put on a trade And this is why I place my stops Outside of an ATR outside of the volume of that so they could play the games all they want But you know, if they can get it outside here, then fine. I'm wrong on this trade onto the next one Right, but I don't let them elbow me out on this Activity just why won't do it and this is guys. This is all from experience of trading these It's not just my opinion. I I trade I've traded these zones since day one Are these areas and I've traded them every which way you can think of right? I'd get in even my course I would get in really aggressively my my course from 2020 New course is all it's almost done. I got it done by Christmas But I would get in like right on the break of the zone risk right above and I just learned from trial and error That's just not the right way to trade it. So I've evolved you have to evolve in your trading, right to get better I'm always looking to get better I never ever will think that I know it all and I'm always looking to you know If I find something that enhances my trading, I will definitely look at it But I've learned this is the best way to trade these lime events So you I don't get stopped out on the nonsense, right? And you can see right now. This is complete elbow Nonsense you look at the relative I am there's really nothing going on here. So this is Sierra chart relative I am other trading platforms I think her swim has a different type of relative I am I'll just go over this quickly because there's always questions There's even questions in my trading room So this relative I am Is not the same as the Sierra chart this all this is showing you is the prior 65 minute bar. So it's picking up It's basing the volume over the last 60 minute bars. So So this looks like a ton of volume at the open, right? Well, this is what it usually is It's usually between seven and eight times Normal because it's basing it on overnight trade. So this this does not give me what I want to see Right unless you know every time period and what like for instance, I know The opening is always seven and a half to eight eight times normal volume. So that's normal This is not a spike in volume. This is just normal for that time period. This does not help me this type of relative I have it on here, but I just I don't trade off if I don't look at it. This is what helps me This is a relative volume for the last 30 days So I'm able to see this exact time period for the last 30 days I know this and if it turns yellow, it means it was more than two times normal So I know on this down move this time this At this exact time period 750 for the last three days, this is two times normal That's the information that's actionable to me, right? So when you you can use this information just like we draw draw the si Stop iceberg events on the chart, right? So you can see Because you got to remember. Yeah, they were something heavy, but somebody was absorbing these that's why you have to have a Equal number buyers to your sellers, right? I mean You're gonna have who's more aggressive and that's what cumulant delta is But the point is somebody was selling this heavy. Yeah, but somebody was also buying it They were buying it passively the sellers were ones being aggressive But the point is you can draw this area of where this high relative volume and you can watch how the market responds And you can see when it's got bounced around in here for a while And then when it finally broke and you get your puke. This is the same concept We're using with the si indicator volume events, right? Same exact thing But you would behoove you to have to know where these areas are. So say this market bounces back up recovers stops me out And then gets above this this event. Well, and even over here Right. Well, all these sellers that thought they had this are now in trouble, right? So that's how you have to view this right now The sellers are still in control. It hasn't really violated this area Even this area for this one little bar has not been violated. That was basically here All right, so this is an area. I want to see what happens. Hopefully this can hold this isn't looking not great right now But again, I knew what I was getting into shorting right here I was wanting to give it a shot in case the big money did come in and keep pushing it But I may get stopped out of this doesn't mean that I'm not going to go short again And I did I did try to take this conservatively, right? So I I did everything I could do I put on the trade. I understand what I was I was going against into this zone into the blue lug And I took a chance, right? But you can see this is bouncing once again Now the trade's starting to slow down. We're getting into that time period This is bouncing right here. The big money did not come in to push it. So this is More than likely gonna be a losing trade. That's the way it is. I was that's what trading is You're taking your probabilities. I gave this a probability that this could just die right now It's not going to happen. It stops me out of another setups right around the corner. I'll get back in That's trading. All right, and if you have your rules your risk rules your Entry exit stop rules Just keep putting the trades on and that's that's what trading is Spock ammo let's take a look at the So this is the hero indicator again, if you guys go on my website Um Well lug with lug with levels. That's you got to go to her website. It's lugwithlevels.com. She's got a three three three day trial Just say you saw it on the book map webinar you get special pricing for that to try them I mean if you decide to try them out after the after the trial and then everything else You know like the spot gamma stuff There's a for this hero indicator. There's a um, it's just Got to have the code here There's regular spot gamma to get sure and then this is very important as well to know One you get his commentary, which we'll go over here in a second, but you also get these levels These are really really important levels, right? So He talked about 3950 well 4,000 was a huge level. We gapped right through there, right? So What's probably gonna happen here is we could gravitate back to that 4,000 level in the opex tomorrow But I still think this is going to happen overall That doesn't mean it has to but it would not surprise me if that got back up to this area His second his other supports were 3960 3950. We're obviously below both of those as well If this area breaks, which I think it's going to and I don't know when I was hoping it was right then Um, then it's it's probably going to get very ugly now You know this information will read what he says about it And then when you overlay your bigger picture structure view that you're like, okay I'm ready to this thing's going to get killed, right? So that's what I was hoping for in this zone I'm not stopped out yet, but it's not looking great. Um, but anyway that these areas I use in the very basic sense, right? They're Support and when they break then their resistance support then when they break resistance He would behoove you didn't understand these levels and know that this is where the most options activity are Are located because these dealers are a big big Participant in the futures markets because they have to hedge their positions So something a phenomenon that's been going on lately and I'm surprised and has been going on longer I'm actually mad that I didn't think of it back in the day. I didn't really understand Anything before spot game as far as the option complex the way he uses it But what's going on nowadays and if you think about this It's just it's an it's a great strategy, right? So these are the zero date to expiration options, right? So meaning options that are expiring today So think about this, right? So if you're a big if you're a big player And you want to and you want to buy? Yeah, you can just be coming in here and buying futures But what would be a better a better? Strategy you can load up the dealers Because you know dealers are not going to hold positions. They have to hedge themselves So if you start buying the short term This is this is looking bullish right now. This is spx. So that's this blue or purple one whatever color that is in color blind If you wanted this market to go up, you're a big player, you can trade thousands, right? You can start buying the zero date to expiration options and you know as the market moves up These dealers have to hedge themselves So they have to because they're on the other side of the options trade So they have to turn around and buy futures to hedge themselves So it's like this cycle that just you know, it's going to happen It's not like you load up these dealers with futures or with the options and they're not going to hedge So what you can do is buy a boatload of of call options. Say you buy buy a boatload of calls So that means dealers are short calls. What do they have to hedge themselves? They have to buy futures So you buy the calls then you start to push the market Then you have the dealers come in and they have to hedge themselves and they're buying futures as well So you get this like This cascade effect it's it's it's it's actually genius It's complete manipulation, but it's legal manipulation, right? But the thing is you know, you're going to get a response because these dealers have to hedge themselves So that's why that's a great strategy So this is why I watch this right he's been talking about this non-stop So he's got two different options You can look at total options or you can look at the zero date to expiration We've been looking at this more in my room just to get an idea, right? So here's You know spx and spy are the main drivers and you can see both these are You know, they're not extremely bullish, but they're definitely the options are moving up on this one This one's moving down a little bit, but it's you can see that so the black line is the price So, you know, this is another factor when you're doing your scale that we talked about He definitely take a look at this but this may do that and wouldn't surprise me especially in the area that we're talking about But it behoove you to keep an eye on this is what I'm saying Um, so for today I'm sure he's okay with me showing this um We're obviously much lower than that now 4,000 remains the massive level here, which we see is overhead resistance since tomorrow's OPEC So if we do start rallying based on everything, you know, I'm gonna get stepped out of this trade But I will definitely be watching you know 4,000's way up here And he's talking about the the cash price not futures. These are just the future equivalent. I see it's here 4,000 in the future or in cash is 40 25 in the futures, right? So if we do rip up there That is gonna that would be an area where say we say we just rip up there Which would not surprise me because that's what these markets do to screw all the shorts first Come up here. Say you get a volume event Well, this in this area I would it because we just I just talked about use these as very very simplistic, you know resistance Support resistance. This would be huge resistance. If I got a volume event up here, I would be shorting aggressively I wouldn't be waiting for a tear retest failure. So that's quite a ways away But you know, you can see these areas and you just know these are these are very helpful in coming up with No important areas. So he says um See his overhead resistance into tomorrow's huge OPEC's below 4,000 key levels are 39 60 39 to 39 50. That's basically We're below that right now as well So if we do rally up here, this is another area where I would probably go short aggressively on a on a new SI event On pliable utility the giant open position causing some interesting flickering is spx levels out of the money puts their decaying rapidly Massive level the vocal which 150,000 calls 160,000 like this isn't very important information I know right because these these dealers have to edge themselves Expires tomorrow a.m. We bring this up as it also speaks to spx put positions being quite small It's likely some of them get rolled tomorrow, but it feels a bit like it goes down So when he's talking like this, he basically goes through here And he's he's saying let's see he says we're not saying we're gonna break But if we do watch out Here we go. The main area of exposure where we're watching is to the downside We're in a break of 3,900 could catch many traders off sides So, you know this information, you know guys what he's saying is Traders are poorly hedged below there. Everyone's expecting the Santa Claus rally, right? But you know from this information Or you should or you do now after the webinar that this is looking just from a structure standpoint like this is going to get Crushed now, you know that traders are under hedged under 3,900, right? So if this thing starts breaking into tomorrow and early next week you can hold, you know into For bigger moves is what I'm saying So you see how everything just ties together, right? And then you come up with the thesis It's go time right now. This could bounce around, but I'm telling you this thing breaks 3,900 It's gonna get ugly and Santa Claus may not come this year for Many families for many trading trading families. No, do you got Joe at the kung fu grip? All right, any questions that made that Bruce What movie was that from? I don't know. I've heard it somewhere. I don't know. I think it was trading places I think you're right Uh, no questions rather quiet uh today, uh on the question it's going on so I mean I don't know what's been going on these webinars the last few weeks. It's like just At least I have a trade on today less. I think two or three. I can even put a trade on And guys that's trading man. You gotta Got to be able to be patient and wait for what you want to see and not be forcing trades If you force trades, you're you're gonna get in trouble, right? So last couple webinars It just hasn't been there and that's just the way it is All right, still alive in this puppy. So a few questions actually coming in No, you know you said no questions Yeah, no Burt was just looking at some of those spx and spy levels I guess with the Options and Yeah, yeah, he's just kind of confirming there. Um And then Are you able to use cr charts to combine the daily charts like falcon? Like who falcon? I don't know. Uh, that's I'm just reading it out. Um Who's falcon falcon falcon? Yeah Um falcon is falcons might trade. This is my computer. It's a made by falcon. They make trading computers Um, it's one of mine. I got two different computers. I'm promoting into that one With this is where I have the sera chart, but I don't know what he's asking. Yeah. No, he he was kind of a misunderstanding there. Um, so, um Yeah Yeah, this is showing falcon because I'm Removing into this computer to see how it's remote desktop because I have all my bookmap stuff You guys can't see it But I have two huge monitors like the extra large Horizontal mark where I could fit three bookmap Screens on each monitor and then I have three other monitors on this computer and on my other computer, which is this one I have my I have my sera charts And then I have you know the relative volume charts and then I also have over here Which we look at let me make sure you have to look at we have the um, this is part of my room as well You guys can see this stuff. So we have the edge Which shows how many stocks are overbought or oversold that for the time This helps keep you out of trouble Well, you're not like shorting into the hole with this thing oversold so on and so forth Which it looks like I may have done that at the time I forgot to look at this like usual and then we got the you know Any any headlines that come out and this you can hear it as well You guys heard some of the talking and then you can have tick strike as well So I have all this on my other computer Um Yeah, so If we can get through this blue log, I think this thing's going to get killed But this you know this we're approaching a time of day where this just made do the usual Probably do one of these stop it going out and then die Or in the tomorrow again tomorrow's opaque, so we may not do anything today May just chop around for the rest of the day Like I said, there was enough going for this. I was willing to give this trade a shot It loses then I wait for it to move higher and I'm still ready to short one to short Too much structure too many things have been violated here For me to think like I said if this market was truly bullish, why did this thing not Take off especially after That that It should have done that at the time didn't so I expected that that's what happened. Well, then why didn't this thing go? Why are we back here? Why is this about to break all this structure here? Right? Because it's going to go to zero. That's why Just kidding. We may we have a joke in my room every day that I say it's going to zero I don't think it's going to zero since coven. So and that's just another example, you know That's we've talked about that quote all the time the markets couldn't stay irrational longer than you can stay Solving I don't think we're going back to the lowest since coven I mean, can you imagine if I just put on shorts every time and just tell them I'd be blown out Right, so it's like yeah, I have opinions, but I let the real time buy and tell me Don't direct me in which way I should be trading. I'm a day trader So I'll go long just like I'll go short. I'll try to hold things if I think it's a bigger picture type of view But I'm you know, I'm taking trades both ways All right, so we got a round of golf at above at tpc right now So I can get out right now and go golfing that would be fun But I'll just hold this and see what happens And there is literally not been another setup in any well, there was gold, but I did not Well, actually, I'll show you guys something to go last night. I didn't take it I was looking at it. I was going to and I got sidetracked Um, but this is the perfect example of this liquidity and how and just what games these guys play So this was last night, right? So you had this came in here. You had huge sell ice Not huge, but it was big especially for late at night. You can see the time. This is a mountain time It actually did this wasn't a tear a tear was only 11 at the time did at our retest fail And I was gonna short and I like left my office and I came back and local was all down here Hey, wow, what do you know and guess what market came and filled every last bit of this liquidity this guys if you understand you know, we talk about all the time of You know, you can sit there and get mad and say these markets are manipulated because they 100% are or you can join them If you know, this is what book map provides you it lets you see what they are doing Right, so if you can't beat them and join them If you know you look at a chart and you see liquidity all one way You can bet your But that eventually we're going to get to that way doesn't mean it's going straight there But like we were talking about earlier when you're basing coming up with the thesis It behoove you to know where the liquidity is right so all that liquidity got filled I restarted this computer, but that was It makes me mad, but it's just hysterical I don't know why it makes me mad because that's the game I used to play non-stop So but just you know when now being a retail smaller trader again Not backed by thousands of contracts It still feels like you're being violated, but I but I use you know, what's happening. You know, what's going to happen Right, so that is huge information. So once again, you just I don't care how great of a Market technician you are if you don't if you're not using this information Not this this is just liquidity that these are algos, but I'm saying longer term stuff If you're not using that information in this information, you just don't have all the information Could you make money trading? Yeah, probably not over the long run But you could but if you have this information with what you already know with important areas that you deem important And understand how the market reacts to this area or how they should react to these areas Then you have all the information If you're not using this you don't I don't care what anyone tells me how To the day I die. I'm telling you this is the edge That you need to be profitable in markets. So All right, so what I'm going to watch here obviously is this Because we are at a terrible time of day. I'm hoping we get through and break some builds and new lows That'll be very helpful But if we roll down here and this is where you want to use your bubbles too like you get all the time Okay, guys get book map and they get all giddy with the with the bubbles and they're trading off the bubbles Guys, this is just market buying market sign. Sometimes it's very important Sometimes it's just you know, most times it's just random buying and selling Where you want to use it is when you come to important areas like spot gamma. So if this market rips down here I will give it a second to see if it can rip through it. So if I see red bubble red bubble red bubble Well, I'm not going to buy it. Why would I get out of any here? If why would I want to be a buyer if no one else is buying? But if this comes down here and I see red bubble Then I can kind of see a stalling Michael a little bit below and then I see blue bubble blue bubble I'm going to get out of some right because I know what an important area and I know dealers have to hedge themselves at this area so Hopefully we can get down here and I'll show you what I'm talking about and then the other thing that the other Other thing you want to look for is liquidity and how it reacts at liquidity. So Find an example here from the day Well, first and foremost, here's crude. So, you know, we're going today eventually Look at that. So you see any difference here? of where we're It may be in in a while, but I would be willing to bet around the golf. We hid that before we come down here Black hole liquidity. Where do you think we're going? All right, so keep an eye on that Uh, but I wanted to show you like an area I'm not always seeing it here. So this is this is looking good scott on that. Yes Yeah, so you just jinxed me next lot first appreciate that You're welcome You're welcome. No, the uh, there's at luke Is saying that apparently there's some sort of study here that if you nailed the trading day scalping The market your short gaming golf is incredible. If you hit a trending day, your long game is incredible It's good to know that's good to know so you can see here this was uh Actually, this is a good example But so for instance if we so you see this liquidity shocker shocker the market went up to it But if you're there's two ways you want to so you have to have When you when you're we talk about this too every weapon I'm going to go a little second This is a this is straight from trading in the zone, right? So these are the rules that I Hammer home to my trading room every day All right, so we get a trade and actually I got to put in Scott, um, we need to uh, uh wrap up the the webinar short today at 11, uh east coast time Okay So sorry everybody about that, but uh, uh, we'll be back to a regular schedule next week Okay, so quickly what I look for you know If we could you come up to this liquidity and you start to see bubble First of all as it gets close to the mark You're not seeing it here, but the market will pick up that size Or the algos will pick up the size and try to run it away So that's where you can use your bubbles or if the market like Gets above this liquidity and then you start to see it fail and you see red bubbles That's another reason to get out of some right. So that's just one of the areas where I'll get out Um, I'm not seeing anything here, but anyway, so I'm short this We obviously have to get off here versus running the party as usual If we come down to 25 and I see some blue bubbles I'm going to get out of probably two of them and I'll let one ride Um, because I don't I don't think this is going to get killed yet But I'll have one on and then what's probably going to happen here This will be ideal this thing can move down We get a new volume setup, right? Then I'm looking then I can trail my stop an atr 110 percent of an atr above the new volume setup And I can actually add to this trade and I may add aggressively If we can build some new lugs based on everything you see how this here is trying to bounce off this thing again So i'm just waiting it's going to happen. It's just whether it's going to happen right now or not Doesn't look like that's happening. So Anyway, if we build new lugs we get a new volume of that I will add and I will trail my stop based on the new volume of that so Obviously a very abbreviated webinar today I just lost my round of golf now. I'm only up a couple beers, which is not cool But I will stay in this trade until I get stopped out and or a new volume of that comes in And that's it for today. I guess thanks a lot Bruce Wow, wow, okay. I'm sorry. I'm sorry. Um, uh, so Oh something just happened Sorry everybody can you Hear me still it looks like uh Hello. Hello. Hello. Are you there? Hear me. Oh, yeah. Yeah. Now I can hear you. Um, yeah, sorry about that. Yeah. Yeah, sorry. I just got disconnected really quickly there Um, so, uh, anyway, no, thanks scott. Um, thank you everybody. We got to cut it short I put scott's uh contact information here into the discord and in the youtube right now I'll put it in so if you want to reach out to scott Uh, you can uh, he offers Mentorship and and education over there in a live trading room So some some good stuff there Uh, and uh, Elsa will catch up with you next thursday scott All right, great. Bruce. I appreciate it. I'll see you guys all next week. Thanks scott Thanks. Bye