 How can you see what's happening? Good morning traders and welcome to the live trading webinar today From book map today. We have a good morning traders and welcome to the live Skaplesini is a futures trader. He's here here every Thursday 10 a.m. He will be trading live It is in demo. Let's go through the risk disclosures. You guys know who Scott is He does offer mentorship services as well, and I'll put this into the chat if you want to reach out to him the risk disclosures Understand what you're getting into with the live trading here, okay? So it's important the general disclosure that all book map limited materials information and presentations are for educational purposes only And should not be considered specific investment advice nor recommendations Live training 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 involves substantial risk of loss, and it's not suitable for all investors An investor could potentially lose all or more than the initial investment risk capital is money That can be lost without jeopardizing one's financial security nor lifestyle only risk capital should be used for trading and only those which Sufficient risk capital should consider trading past performance is not necessarily indicative of future results All right, so with that said Scott. Are you here? And we will Broadcast Scott's screen here You hear me Bruce there you are excellent So let's Get your screen up and You Okay, great all set All right, I'll set to watch bunch of nothing happened pretty Pretty dead. There's actually this is the first setup the entire day basically in any market besides wheat. I'm currently short wheat here Show this quickly there was a there's some ice up here This 170 here and then follow up another 70 to 240 in this zone here You got your full more than a full ATR. Here's your retest. Here's your failure. So I'm short. This is looking bearish Overall we are breaking down out of some How do I turn how do I mute the when people come in the room for some reason it keeps turning on It's a setting in discord And you know I'm just yeah, you'll have to you have to go into your settings and It's in the lower left-hand corner user settings and then you go to Notifications Of discord I don't see anything in lower left corner here. I shall show you so Yeah, I see down lower left-hand corner there Yeah, yeah Go to and then go down to Notifications you'll see it down. You're the bottom there. Yeah and then just Unenable like you know all all of the Ones below there just click them all to the left All these yeah You think I know how to use this I've been have my own room for a year and a half. It's something like this I mean like I'm not sure which Maybe not all of them, but most of them here for sure That should do it We might be forced to trade gold it ain't so dead but anyway It's here major balance breakdown I don't usually like taking these trades because you know This is just so obvious you usually get to snap back and then it goes But you know if I get the signal I'll take it doesn't always do that but The obvious trade trades are usually the ones that don't work so well All right, so this is a yes finally got us set up right after the number here the housing number 725 ice my threshold for icebergs 700 So this was a this is a tradable zone We're currently Below the L Lugs so I don't take longs. I only take longs with my conservative entry So my current serve inventory is that ice zone I wait for a full ATR. I wait for a retest I wait for failure on the short side I will go short aggressively even though I'm very very skeptical and wary of going short right here because this is The relative volume is horrible right now first and foremost and so you can see here This is pretty pathetic and this is after a number as well, so we had a little bit of stuff overnight But other than that, I mean this is it's pretty bad if you've seen red and it's not good And it's NASDAQ ES Russell's terrible doubts terrible. So this feels to me like a range type of day You can see here in The bigger picture as well. We're just back into this zone here This isn't you know nothing major, but this led to directional conviction up directional conviction up and then held yesterday again So I'd be shorting basically right into the zone below here. I'm interested in you know a bigger move type of short but I'll take it at this if the setup fails because that's my system because you just never know but you know The blue lug here and I respect these lugs greatly Ludwig levels talk about these every day These are incredible for day trading support and resistance and targets, you know If I'm entering this trade here, I'm basically getting in at 59 I know my the blue lugs down at 50 So it's like I got max nine points where I'll probably cover this trading list I see some pretty incredible relative volume and then you also have Top of this market profile composite, which you can see we bounced from yesterday So, you know, there is a chance this can get in here and Accept in this one and when they accept in composites you expect the other side But this is also a very important spot gamma level Where you can see this 42 50 in the And the cash is equivalent to basically 42 52 ish 51 ish in the futures This is an area where this could just ping pong back and forth until tomorrow Tomorrow's OPEX. So I hope my point is you're gonna need to see some serious Participation Aka selling to get through here and I'm very wary of shorting right here, but it is nine points I mean, it's not a good risk-reward trade at all if I do get filled on this because I'm risking, you know a current ATR right now is Average to range 4.75 so I go a few ticks outside that so My I would stop into this trade five and a quarter points below here So I'm risking five and a quarter points below this zone I'd be risking five and a quarter points above this zone That's how I play these areas because I make them make the market proof It can get an ATR above this area plus the size of the zone is under six points So I'm risking about 17 points To make nine, you know potentially that's not you will not make a living trading if you're you're taking one To two on your trades, right? You're looking for actually opposite that you're looking for two to one But that doesn't mean you just put on trades and you hold them trying to get two three four to one Right, you put on trades when you think the ability for it to be two three four to one is there, right? That's the whole idea and if you don't you shouldn't be taking this trade or taking a trade if you If you know there's major support down at 50 you probably don't want to be taking this trade I mean I will take it for considering there's nothing going on here and You know, I'll monitor the 50. I'm hoping we can get through there But my point is this is not the best area to be shorting right here You know NASDAQ it's a little more Structured stuff you can see this balance area here. We broke down yesterday We retested I have I am now do you just see the same pattern over and over at hell or it should have for now Now we're back down here. So if this gets a little lower there's you can see there's really no structure here So this could move back down to these areas here these zones here You know the market could surprise us. You never know what's gonna happen every day every moment is unique. So You know, I'm thinking this will hold but it doesn't really matter what I think I let the real-time volume tell me But if this can get below here, I think we can do that. So But like I said, you need if you're gonna break important areas important zones you need to see Decent relative I mean you can see here. It's just not happening right here We're barely getting the normal. So again, this relative I am chart is telling me The exact time period for the last 30 days and it's timing now. We are barely getting to normal Right. So if you expect Marcus to break through important areas, you want to see areas like that, right? And this again, this was overnight. So it's not really helpful But there is a good lesson in this as well. So when you see these high volume areas doing on this computer High relative volume areas So this is actually in the close yesterday close yesterday We're talking about this in my room yesterday, right to the Fed the Fed minutes came out You can see all this aggressive buying and you see a spike, right? Yeah Well, the buyers are being aggressive but somebody for this for this relative volume to spike There are responsive sellers passive sellers, right? And so it's somebody selling it. They're just not selling it initiatively the initiators were the buyers Well, guess what when that area fails the buyers start to panic and they puke out and you did get it I was short a little bit overnight. You did get a move down. I didn't get to my target I'd be nice for by ZS 201 contracts But the point is you want to keep an eye on these relative volume areas one when they start to form the middle of Middle of balance you can expect a bigger move is coming, but you also want to make You'll watch When the area is break So if you see aggressiveness and then it gets outside of that area the other way You can expect a big move because all the traders that were aggressive need to get out of there out of their trades, right? So You can see here overnight Same thing happened here. Once again aggressiveness So it's these two bars here of this area here and then once that broke. So these are almost This is pretty much what I do with my Cyindicator zones, right? It's all based on volume and draft traders. So this is obviously an important area You can see we broke down you can see we retested it and then these longs are like, oh crap. This is not going up Let's get out of this trade and you get a 20-point move, right? So pay attention relative volumes the moral moral of that story Let's trust some of these other areas are really really trying to avoid trading gold lately since the war started It's not been very good product Just been whipsaw city stop run. I mean, there's just it's got to be the worst traders on the planet in this market It's nothing but stop runs back and forth. That's a really sea ice anymore So it's the most latest stop run, you know, this is an area where it could hold but I'm not like I'm this is looking more bearish to me, obviously And we broke down out of this guy The more balance broke down the more balance now this is trying to break out This is this is actually an important area because if this fails This will be a fail break out of this overnight balance and we could get lower This zone is the ones that is important because you can make this one big multi-week balance You can see this zone is drawn because of everything that's happening here directional conviction directional conviction Didn't quite get there yesterday, but this is a zone that we could just come back and do that and I wouldn't surprise him whatsoever because this market will not go anywhere it just keeps arranging But if we get through here, then you want to pay attention and then this is the next area down I don't think this is that an important of an area now if we break this right you gotta remember the longer-term traders These are balance areas are just traders placing bets when one of them is wrong one group is wrong They have to get out of their position kind of like we're seeing In wheat, right? This is exactly what's going on here for weeks You can see this is going back a month. Basically this balance, right? Traders placing bet who is right are the longs right? Absolutely not. What are the longs doing right now panicking and puking? And that's when you get the move, right? So markets are one or two states They're either balancing or you're getting directional conviction, right? This is this is balance. This is directional conviction What I should have here is some prior zones. So I just switched to the december contract. So I lost all my zones You can see here if I do this For some reason this hasn't rolled on thinkorswim It's not the official roll day, but there is more violence as you can see in the October contract You can see all these zones here. So let's see what was important down here. So this is actually this is pretty important this looks pretty Bleak for wheat it's good for us for free beer and Free cereal, but you can see this balance here. We came down tried to build more balance here Same same area now. We broke down from this through the high volume node of this. This looks pretty ugly It doesn't mean it's going straight down. I can see it Again, when you get these obvious breakdowns so many times it'll come back It'll test the bottom or high volume node then it'll go so These are areas that it could could bounce as well for now, but it's definitely not it's definitely a very slicking market So when you see things like this your best trades are waiting for pullbacks to short instead of trying to chase it Because again many times when you chase it Snaps back on you, but this volume setup, you know, I look at the bigger picture to come up with my thesis and then I play the volume setups As they unfold and this is telling me to be short All right, I mean I would not be surprised if it did that stop me out But this told me this is broken ice one of my six distinct setups Someone tried to hold this market up wrong retested failure. This is the classic setup, right? No, I'm sure Some areas I will be watching to cover in that and then we'll see what's going on in this Again, I really really really don't want to trade gold Let me check. Uh, yes hero card see what's going on A whole bunch of nothing this day has been pretty bad so far Um, let's check our wheat Ludwig levels. I don't know why this isn't trying new. I know she just rolled this today This should be drawing new Ludwig levels with this much time below the blue So that's why I took the trade because there should be new Ludwig levels here, but Hopefully she's on this webinar and she can check it because that's it's not normal for her to stay Below the blue lug this long without forming new ones, but Anyway, I was going to look at some new Ludwig levels for targets, but I don't have those right now. So hopefully that will Populate here So you can see we're just pretty much in the middle of nowhere In between American profile composites Right here dancing around the yellow lug. This just looks like chop city to me where it's going to be Tradeable as if we can break down and back into here. We get under that 50 level I think we could make a move down here This gets back in here Then you expect to move up to here for this 4,300 to 4,320 is important spot game as well So it just looks like to me until into tomorrow's all packs. We're just going to be range trading. So Um, so now in the flip side, I can't go along the setup And will but we're below the yellow lugs. So I need to see My usual ATR retest failure All right. So ATR right now is 4.71. So I need to see four and three quarter points out of here 68 and a half 72 and a half 73 quarter 73 quarter is the official ATR right now. So I need to see this touch 73 quarter I need to see it retest. I need to see fail again and then I'll go up Yes, is there a chance this just keeps going? Absolutely. But I have rules that I follow Based on Ludwig levels and you know this again, this is a kind of limbo area as well Where I need to see confirmation of the zone meaning I'm not gonna there's there's times I am aggressive We're all just the minute the minute this gets an ATR out of here just outside an ATR I'll jump in in certain situations But in this situation, this is chop city I will I'm going to force it to do that if I miss the trade I miss the trade There's always another setup right behind it, right? So That's what I'm demanding from this potential long here and I was going to go shorty or aggressively But if this gets an ATR above here, then this short idea is disqualified and then I will cancel this order And which is this is about to do when I say 73 quarter You can see this the market is just there's just nothing going on It's pretty amazing too. We're doing some test test trades in my room And one of the ones we're going to be doing here shortly Is When you get these volume events The market will go to an ATR and there's actually kind of a scalp in that type of trade where you can literally just fade it The minute it gets an ATR sell it and play for a move and risk an ATR above here And then play for a move back to the area and then that would be the retest, right? You would not imagine you could not imagine how many times that happens in all these markets All right, so I'm not doing that trade right now. Obviously we're we're going to do a test test in the In a few weeks on that but anyway, this is ATR So I'm now waiting for retest failure of this iceberg zone if I don't get it and I don't get it Because I have my distinct rules Um speaking of retest failure There was a little area here in crude crude is rolled as well to the october contract So make sure on october You can see here. There's some cell ice 256 this is the zone here So this is this is what i'm talking about. I mean it's like So ATR in here is 30 31 round up This went a little outside the ATR, but then it comes back and retest the area right because it's just You know these are trap traders and it's just uncanny how often it will retest and then go All right, so why am I not getting long this? Well, I would normally be getting long this especially with the retest failure, but I respect the Ludwig levels I know how powerful they are the major Ludwig levels and you can see we're just we're right at the red love, right? So these are this is incredible support. I'm sorry resistance. This is incredible support So I don't go long in the loves unless I see some incredible relative. I am what we were talking about earlier The relative volume is not incredible. It's actually horrific So I am not confident that this can punch through the red luck here. You can see here Remember that, you know, the the contracts are still rolling here Let's just check this is a good way to you know, if you guys don't want to do this Just go here and see what month you should be trading Go to the product go to quotes You can see here The majority of this volume now is in The october contract, right? You still have 30 000 in sap, but You know, that's basically four to one in this month. So We are on the right month So I was saying the relative volume what I was trying to say is relative volume could be lower Just because of the split months the majority is in this month and this is this is really really bad Especially for crude, right? So you're basically a 50 percent of normal You don't expect big moves when there's nobody playing What you expect is chop city because these are where the algo's take your money All right, so my point is I'm not willing Go along that setup into the red lug because I think this area is going to potentially fail But there was a setup. It was bullish That's that sell ice. There you get the retus failure So this does bust through here, then I know what happened here and then we get new lugs and then I'll go long This is also an important area and this market is in a major downtrend now Right, and we're just returning to an important zone So I don't really want to go along this market until we can It can prove it can get through this zone So I draw my zones and you know, the four important areas of Market structure So what are those tops and bottoms of balance areas by volume nodes of balance areas? That's just where the most trade occurred in a balance area And then directional conviction Gaps are also directional conviction and buying and selling tails So you can see here this is a selling tail tails are just instant injection And then it led it led to this directional conviction. So this zone is a very important Resistance zone. So they're even more important when markets are in major downtrends I don't draw the downtrend lines and I you know, these I just see it all the time with traders draw them and then they they keep like revising them and revising them You know, I don't play moves into Into trend lines like I don't draw and then just automatically will short Into that area, right? I'll keep an eye on it and I can see it's happening But I use my market structure to and my lugs to to take trades. I don't just I just see it all the time like traders will draw this Tread line like this and then this will happen. Then I'm like, okay, I'm gonna change it now I'm gonna make it in this one. It's just just know it's in a downtrend, right? And then downtrends that some of the best trades are like we're just talking in wheat if that happens Retests of important zones, right? So this is an important zone There's no relative volume. I can definitely see this failing. I would love to see a short setup Right now, but that's not happening. So let's just sit here and wait Any questions on any of that first That's basic stuff. I know I go over every webinar, but there's always someone new on here. So Yeah, no, no nothing nothing so far in youtube and No, everything's good Okay All right, so we're just waiting for a retest of this zone to go on and there's just literally nothing going on here You guys got to remember this is august. This is the key month that the bigger traders Um, you know funds so on and so forth go on vacation Right. So this is where you know, this is I've been getting killed this month just because it's been whipsaw no volume low relative volume You know if I'm trading independently I'm probably taking this month off with the rest of them, right? But I have obligations in a trade room and stuff like that and it's fine But you know and you expect drawdowns All the time when you're trading because trading is just a probability game But this month has been actually pretty pretty rough. So just you know Either there's a there's a number of things you can do during this month, right? You can either just not trade That's obviously not possible for a lot of a lot of people They can't just sit in front of screens and not trade cut down your size trade on sim Do one of the um, you know one of the funding sites My my main one is apex trader funding where I have actually a few where i'm testing strategies We're testing some strategies in my room get on there. You do have some skin of the game So it's not like you're just trading Sim or it doesn't mean something because if you lose you're still got to any up some money for the you know for the tryout and stuff like that So it makes it more real right versus a simulator But you're not getting killed trying out new new strategies and blowing out five ten twenty thousand dollar accounts, right? So that's what I recommend especially in this type of trading environment But you just need to recognize when it's bad and you know great traders good traders profitable traders back off And they say i'm not going to get my money in these algos and I know You know a lot of people play the volume profiles and these High volume nodes low volume nodes and everything else but you know when you break it down this type of trade is just algal algal driven and Algo markets are not predictable. I don't care what you see on the volume chart right as far as the the volume profile That's why I actually use market profile for my for my TPO's and self-life for my market profile stuff, but you know You're just getting whipsawed right now by algos is all all this happening when it's a low volume environment That's what i'm saying when volume starts to pick up then you can start looking at your volume profiles in my opinion I just don't think they're as reliable when you have all these different algos in here that have different agendas right so And this is the algos favorite time is when the algos worst enemy is the big money right? That's why these areas So important which looks like we're going to do the normal atr retest as usual That's why when you see areas like that they're this is why it's the the the core of my trading because this kind of Activity disrupts algos right and they can't play their game because the big money comes in and screws it up so This isn't like this is huge either. This is only 700 but again, this is my threshold for this market So we're waiting for a retest here And then I will go along on a retest failure outside of an atr This is a pretty example how the one strategy we're working on and we talk about the scalping all the time and You know i'm not a believer in it anymore That's how I made my millions of dollars and I just it's just not it's not reliable because you know It's all algos and this stuff is usually fake. You can't rely on on orders, but there are you know bigger You know more of swing trading type of trades you can make so the one that you guys can start looking at right away is When you get these volume events Especially in algo driven markets where there's no relative volume. I bet you these work the best That's why they've been working all the time lately when you get a full atr out of here You can short it you risk an atr above and then play for a Move back to the volume here. You will be shocked at how many times this happens I'd say 80 percent of the time And even more so in some markets like crude natural gas More of a retest the area. So that is a scalp you can do. I know you guys have the advanced heat map I still haven't got on with bruce about the No, we haven't really Gone over much of that at all or yeah Anyway, just to note that 80 percent. I mean there's no Quantifiable Study here to say 80 percent. It's not a trade recommendation But no, that's just from my that's just from my observations over watching thousands thousands of these right? So that's my opinion. That's my opinion. That's not an official step Yeah, yeah, I just need to get get some of that across here. So people don't go. Oh, she said 80 percent Right that that's just my I mean granted. I should have stats for the thousands and thousands of trades I mean just in this in this alone. I've done Let's see here. It comes back frequently is kind of the Answer I guess or the All right, so you can see just in this alone. I've done a thousand trades, right? So I just haven't kept up with them But you can see look look at this drawdown drawdown I've taken My eyes again. This guy's this is trading tiny. This is trading twos threes fours, right? So but I I increase my size you guys see this every webinar right as my as my account value grows I increase my size, you know, I put I put in my my account size It was this is starting at 100 grand $58,000 profit that was up at near 90 right? So that's the kind of month that I'm having And it was it's kind of expected. I didn't expect this bad of a drawdown But it's trading right and you can see every time there's been a drawdown There's been a recovery. So I If you have an edge You will get a recovery, right? Because if you if you follow your rules and you do the same thing every time, right? So This has been quite the beat down, but I know when september rolls around And that would be that so because I know I have an edge, right? I just don't know when where or how but I know if I take I keep taking my trades We talk every week about liking it to a casino. You keep taking your trades Following your rules. If you have an edge, you will make money Casinos know they will make money over a year's Time, right? That's they're profitable basically every year Because they know the math math is in their favor aka an edge, right? So they come in the guy'll come in and smoke them for a million bucks or something They don't panic and shut down the casino and start changing rules and as far as their game rules Things like that. They just keep letting players play and they know They will be profitable. It's the same thing with a trading edge If you have a legitimate edge and this is the best edge I've ever seen in futures trading And I just you know, and you have your rules and you follow your rules You will make money your equity curve will look like that So, you know, you don't know I ever know how much the drawdown will be But I'm a little surprised on that for this month, but it is what it is The trade has been horrific, right every day like in my trade room. I get on in the afternoons I think there's been maybe three trades in the last two weeks on the afternoon webinars Just because there's just nothing going on. It's just algos taking everyone's money. All right So here's your official retest Check your ATR one more time 4.81. So I'm going to go three ticks outside that Actually, we're going to round up to five because it's over 4.75. So ATR is five I'm going to go through 5.75 out of here. So the top of this zone was 6,850, 7,350, 74 quarter That's where I will, wait is that right? Yeah 74 quarter That's where I will go along that right into it. It's about gamma level, but these are the main ones And so now this short idea that I already cancelled that I don't remember canceling that order, but anyway Now that this was able to get an ATR above this area I cancelled that short that disqualifies a short if this would have held and not gotten an ATR above here Then I would have shorted aggressively because we're below the yellow. So So here we go Really thrilled about trading these markets right now not There's nothing going on. It's what I say 74 quarter and I had multiple accounts and trading. So let me Get this stuff set up So we'll see if we get the fill there wheat is Doing okay So I usually will get out at Ludwig levels or market profile levels And you can see here. These are actually my rules that we're working on in my trade room for these auto traders that we're testing This is us straight out of trading in the zone and this entire the book trading in the zone But my my rules or what I'm looking for are Showed that I think I showed this last week too, but So you can see rule number three here I'm sorry five Pay myself as the market makes money available to me lug levels market profile composites lowest point of controls V-wap standard deviations Important predefined zones with the kind of zones I've been showing you today based on the channel structure or opposing SI setup So like I said, I want to see Some new looks built here. I don't know why Let me send her a message in my room real quick This should not be sitting here like this So she's actually in my room Pamela Ludwig. So you can send her direct messages Um, other than that, let's take a look back Some structure stuff to see if this is an area These are areas that I can be getting out You can see how long it's been since we've been down here All right, so Can merge some of these these days Overlapped each other And these are from the long these are from last September Basically a year ago, but you'd be amazed in how the market respects them when they come back to them You can see how this market respected this one and took off from there, right? So this is I would assume this is the next Major area down here There I usually have these drawn, but this just switched months and I lost all my data and so Oh, we're already through that one So let's let's go back to see what the next one down is So this one you can draw because you had so this is a good example in drawing these, right? So you're looking for prior days that overlap at least 15 of the value area So this one could be drawn, but we've already traded through that but this one down here This day overlapped this day This was an outside day when when the third day overlaps the first day you can merge all three All right merge that Merge that All right, so that should give us some kind of target here since there's no lugs yet Yeah Let's just pop that literally pop back like five cents while I was drawing that but my control I'm sure is right here. I probably could have got out of one there But we'll see if it can make it down at least bottom here and I'll watch at it If we're not if I'm not getting new lugs. I'll watch that 740 area Market just literally came all the way back you can see now they're buying these grains and that's why Literally 10 10 straight cents why why I was drawing that zone. So that that's pleasant No, no failure here in the s So this was you know, this is what I'm talking about, right? So everything that I'm looking at tells me that this area should be an area and we're still not through it yet So I'm still wary that I don't think we're gonna get through here But if we do then I will I can go long, you know at least short term is still on a downtrend But the point is like I was worried about going long there I thought was going to happen. Well, the real-time volume said, you know, you can go long right the the volume event So the volume event was broken ice Go on Here's your liquidity that you can you know when you're pulling up your markets every day I would scrunch them together see where the main liquidity is and you can bet that the market will Get there eventually and this now these guys got their fill that might be the end of this move If not, we'll watch us see if we can get through that zone. I just showed you 1358 contracts filled. So this is what you want to see too once you get filled now I can trail my stop based on this new setup And or add to it right So huge stops just fired off here wherever we're short overnight just said yeah, I gotta get out Actually went higher overnight. So I don't know what this is why the size of stops are right in this area but Doesn't matter they were someone just did a huge puke right here now one of two things right One, let's see. We are in the loves if we're above the yellow lug now I can take my next trade aggressively out of here So we are but I guess I can take that aggressively All right, first of all, let's trail our stop. So now I'm trailing my stop not based on my p&l Based on the new setup right so the 4.96 is your atr. So five I go through about three two or three ticks us either. So we'll go five and three quarters out of here So the bottom of the zone now is 75 and a half So six points would be 59 and a half. I mean 69 and a half 69 and three quarters Is my stop out now, right? So you see because of the new this new setup Actually, I think I got a worse fill there to no, I didn't Because of this new setup. I can now my stop actually I didn't even have an in yet, but my stop would have been Basically five and three quarter points below here So my stop would have been somewhere down here now that there's a new volume event I just saved myself 13 points of risk, right? So now if this comes back, I'm only going to be losing about four points versus 17 right That's how I trail my stops. I don't trail my stops based on my p&l Where you get, you know, you guys do it And I would say the majority of you guys on here traders on here, you know, they get in their favor Like I'm moving this back to break even well And you're going to get algored most time, right? The only time I will move it has nothing to do with me breaking Even it has to do with this newest volume setup, right? So that's how I trade That's how I trail my stops not based on what I don't want to give back That's one of the biggest I'm not going to go to on that rant today But that's one of the biggest mistakes that traders make All right, so we are above the yellow log I'm not excited about being aggressive on any setups in these markets right now Because again, this relative volume is horrible. I can see this just snapping back in my face I will follow my rules for above the yellow log. So five and three quarter points out of here I'll add to this train see if we can get a run up to 4,300 So the top of the zone was 80 and a half That's 85. Sorry 80 and a quarter It's 85 and a quarter I say 86 85 75 is five and three quarter points out of here My second entry on this train or so I will add to that and that is just outside an atr, right? That's why I'm doing that. So if I get filled on this my stop for this will go down Toward my trail my stop for my original position and then I'll have two positions on So you can see you know, you get a day where you're getting setup after setup after setup You can add add add trail your stop trailer your stop and you can have a month from your making day on a trending day, right? That's the goal for traders try to have you you know You keep taking the trades keep taking the trades and you finally have a day where you get the major trend and then you just absolutely crush it, right? That's what trading is. It's basically treading water breaking making a little losing a little making a little losing a little making a Little more and losing a little more and then you finally get your your trend day and then you kill it You know most great traders If you look at their p&l they probably have five to five to ten max Days out of the entire year that make their most of their p&l Right and that's what traders have to understand. You have so many traders that come in I can't tell you how many times I see the Well, my goal is to make five hundred dollars a day Great that it's great that you want to do that the market's not going to give you a consistent five hundred dollars a day every day It's just not how markets work, right? You're going to just have these you know back and forth back and forth and then you catch the big one Catch the big one and then that's how you make your p&l in the year It is not a consistent day job where you can come in punch the clock and expect to get paid the same amount every day It's not going to happen. So if you if you think that's going to happen, you're in the wrong business Um, the surprise has been nothing in nasdaq today So let's look at some of our other stuff just to see there was a swipe here This is the sweeps into cares is very helpful for drawing zones. You see on the cs trade This helped me draw this zone where I didn't have to spend a ton of time like zeroing in and out or zooming in and out You can see the swipes right there and I just Basically drew the zone and that was this stop run, right? So all All stop runs are sweeps obviously because there's you know Sweeping the order book to get out of their trades, but not all sweeps are stops and this is a perfect example This was a sweep in asdeck, but it wasn't really much of a stop run, right? It was only 98 you're seeing 574 sweeps here Right only 98 of them are stopped. So all all stop runs are sweeps not all sweeps are stops And you can trade these and draw zones on these alone There are multiples of my of my normal thresholds that I have for the SI indicator I don't know why that is but you just meaning if you see 700 swipes in the yes It's not a lot. It doesn't mean a lot is what I'm saying So be careful drawing zones on sweeps unless it's like, you know, three four five times Uh normal threshold. So you can see this one was 2,200. So out of the 1,300 Out of the 20 2,200 sweeps 13 out of more stops. So there was another 1,000 behind it All right, let me get my stops and these other I'm getting smoked out. This is exactly what I was afraid of in this wheat trade I should have been more diligent. I guarantee that was the point of control that You get these moves out of these balance areas It is just so obvious and you get these elbows that just turn around and run it right back and you can see This was this is poor trading I needed to be out of some of these contracts down here in this zone And whatever this was from down here, I drew for a reason This is far enough from this area like I should have been out of some of my trade right there This is poor poor caddy poor trade But now this thing could come all the way back into the zone and still be bearish Right so water the next area is now I'm probably I'm probably going to get stopped out of this But I'm moving to here is going to be an excellent short I'll move anywhere in here anywhere in the side. I know this white zone probably is the main area Excellent shorting areas where you just wait and then you hit it Right these trades so many I can't tell you the percentage of this It feels like a hundred percent to me Like when a market breaks down out of balance It's just so many times it'll snap back in trainers faces because it's just so obvious right there's literally algos that play Snap back when you break from balance Because it's just so obvious it's easy to program right And so I mean I'll hold this I have a very strong feeling I'm going to stop now But that was just I should have been out of half of those at least half of those in that important zone I just basically made a mistake I've been making a lot of errors lately It's not hard to do it's way you got to be on top of your game You're trading against the brightest minds on the planet and you cannot be making mistakes They're just going to cost you a lot of money and that one basically is going to cost me a couple grand Any questions bruce No, let's see. Yeah, I mean there's some uh, hold on. Um, yeah over in discord here So here's another thing I saw this this morning. This is why you want to bring up your markets Look at look at this liquidity above Guys, this is not hey, I want to be short. Look at all these sellers It's hey, we're going to this area because these are the big this is the big money Right, they get the market where they want it to go Eventually, right? So when you see this you're like, yeah, I want to be long in this market any chance I get there hasn't been Any setups But you see this on top of your analysis your chart analysis if everything lines up No, that we're we're going pretty much right away. So that's a good sign Russell's been leading to that's a good sign for the cs trade, but So it'd be nice for themselves 209 contracts I think I missed another setup in there. I think he said something so guys, you know You're going to get immune if you have the alerts the voice alerts, right set up here on your sub chart So down here is what you wanted to say. I just put in my week You know, it's a little read that off, but after a while you hear so many of them You're like you hear him, but you don't hear him, right? So that's why you want this so you can go back and say, oh wait Did I miss did I miss a trade here? So for instance, I did miss a trade This was right when the webinar started. I missed a trade or I missed a setup in soybeans, right? So you get to that you just go to file alerts That'll pop up this Text message box and all that is is here right So this is It'll read it and it'll put it in print. So that's the text. That's the voice So in case I hear something but don't hear it and I just have to look at that text All right, so They're just pushing this thing I hear like they do every single day because there's nobody in here to play the When the relative volume is very low the default is up. Just remember that Again, I'm not very excited about adding to this trade with this type relative volume, but It's you know, we are above the olag you did get monster stops. So this this does get an atr above here This is considered a stop and hold The big money keeps pushing it even though I don't there's not a lot of big money in it right now But the other setup is when you get a stop run the dumb money puke it instantly rejects That's called a dumb and dumber. Well, you can see this is not rejecting Someone's coming in here and continuing to push it. So for now, we'll see if I can survive and have this move up higher I think the ultimate target is up here under the spot gamma level Speaking of which, let's look at our hero real time So he has this on a site and you can get this through book map as well But you want to keep an eye on when you get huge divergences We've been seeing some divergences at the highs the last couple days and it's really signaled A sell-off And important spot gamma levels, right? So this is a green. This is spy. You can see so the blue whatever color this is purple is The options complex is is bullish. It's moving with the market. So that's a bullish sign You're not seeing a divergence. So last couple days here. I'll actually show you So I put my room See here I showed this the last two days, right Virgences and spy and spx again at a major spot gamma level like yesterday afternoon That's when we sold off from that 40 points in about five seconds So this is when you want to be careful if you're long The black is the market and you're seeing the options go the other way Especially when you get these straight lines, that means it's big money big options Trades firing off. You want to be very careful When you start hitting targets like spot gamelows be ready to get out of your trade Right. So you can see the difference between what that looks like And This looks like right. It's following. So that's spy spy This is spx Tiny divergence nothing crazy Look at cues, you know, there's been nothing in cues today Me and nasdaq Let's see. I don't know my alphabet obviously Not even tired today. There you go. So None of these are saying that something silly is going to happen here as far as a divergence rip back. So it doesn't mean it won't come back but I'm not worried about that stopping my trade is what I'm saying It's just one ingredient, right? It's not that it's not a red light green light type of signal service But it is more so at Important looks right. So if we rip up here and you start seeing the black go this way the blue go this way And you're in important levels You want to be very careful of trying to hold through these areas because you usually get the snap back All right, so this is just City So this is another thing too you guys want to be watching multiple markets So when these markets suck, there's always there's usually something else going on somewhere, right? 245 it doesn't matter what all you really need to know. It doesn't matter what futures market We're talking about volume is volume, right Caught traders are caught traders big money is big money. It doesn't matter what you're trading it You just need to know the thresholds. What's important for that individual market for instance like If I saw 242 sell ice in the s I wouldn't even pay attention to it 242 sell ice in soybeans is a lot Right, so that's what you need to know and that's you know part of my course. I have thresholds for like 23 products You know or you can just go back and research it yourself You know you go back and look at a year's worth of data and you can figure out your own thresholds But you know from when I made the original course two years ago almost every threshold is still spot on I'm a little higher and like I've moved and that of course. I think I have 120 for that for NQ I've moved like 150 you own this off significantly your bonds I think I had 200 300 and bonds you want 500 for bonds as your minimum threshold, but everything else is pretty pretty accurate Very accurate I should say All right, so this is the zone in soybeans. That's my first step Next let's see what the lugs look like Bounced off a lug here that didn't draw. I'm going to be very very upset I don't know why this is not drawing new lugs You know you need the conditions for new lugs, but I can't possibly believe the condition didn't happen with it being below the this long but It does not respond to me in my message. So let's look at the beans So beans were above the old lug you can see here. What's the story for today? With your market profile every day you should try to come up with a story of what's going on in the bigger picture All right, this market opened up It tried to break down out of this composite failed got back inside when a market enters A composite you expected to move to the other side that happened basically immediately. Now it's trying to get inside here So That's bullish what happened here was bullish. We got back inside here. That's bullish So now i'm expecting to move to here if this can hold in here We have a real-time volume event and we're above the old lug the only thing that scares me here is we're at extreme standard deviation V-wap this is when these algos kick in especially if there's no high relative volume coming through So let's check the relative volume and see So it doesn't scare me as much wise. Let's see how different this looks In these other markets Almost three times normal volume here on this on this in this area right now And that's basically the sell-ice area. So that when you get high relative volume That's what screws up the algos. There's nothing going on. You see that that's the algos snap it back on you When you see high relative volume Many many times it can continue. I'm not as worried about it snapping back in my face If I do take along on this right So that's step two we're above the old lug so I can enter this long aggressively And then step three is finding out the current atr. Current atr is 3.70 That was strange. This is just default on thicker swim. It's a 14 period wilder's atr Just helps you judge the volatility is very helpful in Knowing how far the market if you can get outside atr is out of the zone and it's it telling you something, right? So I round up. So that's 3.75 Let's go three ticks outside that puts me a four and a quarter It's my it's my atr to outside the atr to enter. So four and a quarter So that's uh 675 I wonder this long The problem with this so I got to make sure we're not too close to the red lug if I enter this trade That's the other thing that I know so red lug is all is at 1415 so But I still would be risking If atr what I say four and three quarters will say five ten Meaning if I get in this trade, I'm getting in five say five points above I've got to risk five points below plus the size of the zone. That's not so that's 15 points So this one's it once again, this is a one to two trade That is not what you want in trading, right? So this is what I'm saying It's like you don't put on trades and just hope for two three to one I look at this trade and say well, what's the max this can go or red lugs up here You can see where red lug is is the exact top of this composite that I think this thing can travel to But do I want to risk 15 cents to make potentially seven or eight? That's what I have to decide, right? Yeah, there's a question scott on your atr So you're Dnt matters was asking here. So the es got one atr above your zone And it just retested it. This was some minutes ago Or many minutes ago And it just retested therefore you canceled your short Your zone is the absorption zone, right? Yes, the zone was when this market moved down So remember icebergs are hidden orders in the order. They are not showing in the order book There's only a certain percentage showing so I think it's like 10% so that means if there's this 700 This was a 700 lot by ice. You can see above here above the above the zero line is by ice below is cell ice So this was 700 by ice So on the order bucket probably would just look like a 70 lot, right? And then someone came and then they got all aggressive trying to pummel through it and then I got a mouthful There was another 600 and I heard 610 behind it or whatever whatever I said 630 behind it, right? So it's like they're like, oh wait, that wasn't that wasn't a 70 lot That was actually 700 and then they took around and like, okay, we're out, right? So Yes, that is absorption. I don't have the absorption indicator on here I've taken some stuff off so it doesn't freeze up my computer. I already know is absorption, right? It's hidden absorption because once again ice birds are away for the big bunny to place orders and And get filled where they don't scare the market someone comes in here and drops in 700 800 thousand 2000 these algos See it and run away from it, right? So that's why they hide their orders We can see what they're doing. That's the key most traders if you don't not use a book map You don't know this this is pretty pertinent information to know correct If you're short and you see someone's absorbing a k ice birds the big money You probably want to be wary of hold it trying to hold a short you're like, okay This is not what I want to see. Okay, this gets out of the zone. I'm out This is the most important information you can have Say at every webinar I mean, you can't make money just trading bar charts or whatever the 85 indicators that most people have on their charts Oh the stuff works, but you don't have all the information. So just imagine I have some guys at the lights finally going on in the my trade room They're like, well, I just figured out like well if I if I use what I'm using and then I add in the book map The book map areas the SI indicator is That's like really good information And I basically say yeah, no kidding. That's what I'm telling you guys every day So it's not like you have to trade or see what I'm seeing, right? You know, if you think this stuff's advanced the way I'm reading whatever if you have something you think works And then you apply these volume areas. That's that's an edge That's your edge that you want if you're not using these volume areas Again, you don't have all the information. I don't care how good of a trader you are You do not have all the information. It's just it's black and white, right? And we say it every webinar too. This is the science. There's no disputing. There was 145 cell ice there Where you trade these is up to you. I'm showing you how I trade them in the best way I've determined to trade these areas based on watching thousands and thousands and thousands of these, right? If you say I like cell ice as soon as I see it I like jumping it right in the middle of the zone great go have at it You may come up with a strategy that works better than having to risk ATR so on and so forth I've determined for myself after trading thousands of these by trial and error Mostly the best way to trade is forcing ATRs in and out of the areas right out of the volume events So yeah, that was absorption and then when we got I was going to short this aggressively because we were below the o-log and once this was able to Up back out of here and ATR that short was canceled Then I went long because we went ATR retest failure and then I took the long That I just do it over and over and over. That's my edge. I follow my rules the best I can sometimes I do stupid Stuff I almost swore there, but you know for the most part I'm A lot of the times I'm taking trades and they feel terrible. I'm looking at the chart I'm like, god, this does not look like there was a crude trade the other day Looked horrible from a long standpoint. If you're in my room, you remember this You're down here This is a failed breakout Gap down through the high volume note. This looked horrendous for a long and what do we see down here? We saw two back-to-back double whammies You show you this is actually one of the trades that I Put the time and documented in here My busy schedule, but you can see here the real-time volume told me That something was up. I don't want to be short even though that look I can't tell you how I Can't even guess how many people got short on that because it looked like that the trade was going to die The mark was going to die. Is this trade right here? You guys you get discounts to all this stuff on my website traders saying tick strike look map Like with levels view at our site just put in the three-day trial say you sign a book map You'll get discounts there too. But anyway, this was the trade So I'm waiting for this to die. I'm on my webinar. This is when I get on my webinar, right? And I'm like this first one fired off that was this dark blue one That's this and I put these values in so don't it doesn't print them like this on the book map I put these in so I can see what it was and this is going to be part of my new course too Because this was a very you don't see back-to-back double whammies are up and what's a double whammy Well, it's the dumb money puke 377 into the waiting ads of buy eyes That went a little lower more dumb money puke almost 400 into the way to hands buy eyes right the hidden orders So you get back-to-back double whammies. Well, if that mark, it's truly bullet bearish. Why am I seeing bullish setups and guess what? And you can see I took this trade my money on so my point is There are times where I like oh my god, what am I I can't believe I'm taking along here like the other day I can I could not believe I took a longer But the volume is the most important what I'm trying to tell you guys over and over and over That is the biggest factor the biggest edge the real-time volume was telling me this thing wasn't going to die And I got long it didn't feel good, but I got long and I made money that's why so yeah, you know I traded Opposite of what it looked like but the best trades are when everything so if I would have got a short set up here That would have been even better I would have that would have been any plus trade because it looks like it's going to die Then the real-time volumes tell me he's going to die. Do you see and then that's when you trade bigger size? That's an eight when you get an eight plus setup But there's going to be times where the real-time volume all the time actually doesn't match up with what you see And that's where you either don't trade it or trade smaller or just say, you know what I trust my edge and I'm taking it And so here we go with the website. So this is exactly what I'm actually very happy I didn't get filled on this ad because this is what the relative volume is telling me this market is Probably going to do today. It's just whipsawing you to death And that's why when you see this you should probably shouldn't be trading these markets At summertime go golf go fishing go do anything this market can't get This has got to 100 one time entire morning one time same here That is just asking for this Say no to algos Speaking algos another stop running the worst traders on the planet are in this market telling you nothing with stop runs This one's almost 400 which is a lot threshold in years 150 I think I upped that from my original course. It was a hundred of my original course And doesn't change to 150 over the years Guys and I just wanted to for those of you who are new in here and what what scott talks about with Real-time volume and relative volume. I mean you can see it both in book map Because the relative part is the dots and the dot size compared to other dots and the Real-time volume is like well, you know exactly where it's trading and you also know how much Uh, you can hover over them to find out exactly how much but you know, you have that relativity Um, if now if you go back and look at a candlestick chart, you have no idea where on that bar all of that volume traded And then uh, that that's that's what he means We get that question Right, but it's relative volume for today But the chart I'm looking at is not The chart I'm looking at is showing me relative volume for this time period for the last 30 days. So that is not Yeah, I mean it's very different, but uh to to know the real-time volume Exactly where it's trading or exactly where that liquidity is and did it trade etc? Um, you can see here. This is pretty much the biggest cell bubble out of this entire area. So yeah That's a lot. Yeah But you want to be careful just trading bubbles So I get you know, a lot of new people that get bookmarked they they start seeing these bubbles and they're trying to trade off of them This is just market buying and selling. Yeah, it's important and it's really important in certain areas But you know, I don't trade just off bubbles. So I try you know, I trade off This is the the main information for me But you know, for instance, like you could say We were talking about having an art how you trade these zones You can say okay We say we break the zone and you see blue bubble blue bubble or tiny cell bubbles You can say, you know what they're not selling this below here I'm gonna I'm gonna go long the minute this gets back inside inside the zone, right? You can do that. You can do whatever you want. It's your money What I'm saying is you once you understand what's going on Then you can tailor your trading style or strategy to how you want out of this is the science How you trade them as the art I'm not saying my way is 100 percent perfect if you come back It's just from my observations from all these setups that I've watched If you come back and you come up with a better setup share it or trade it whatever you want I'm always open to other strategies That's how I've determined the best way to trade these so this is you know, teetering on stopping me out It'll be a tiny loss comparatively what I could have made if this actually got rolling But we're still alive Probably stopped out in Wheat by now, I would think let's see here So I'd be interested not out of that zone yet. We Not yet, but it's coming It's coming again. I made that was an error that was user error right there I should have on half into that important zone and that was just me Again, it's hard on these webinars when I have one screen. I'm not looking at it, but this was That wasn't the wrong one. I mean I'm in December. This is the October contract still But I should have been paying attention and I guarantee you Like I said, let's just look right here so I could be more mad at myself That was the hype. That was the appointing control of that recent Market profile or not recent that whole market profile that I drew a little bit ago Retro gas is getting smoked Let's look here real quick so I can be a little more mad. So we stopped at basically 742 ish 743 This is 43 75 So I definitely went down there. You can see the market respect that last time before this was again a year ago pretty much But that was just that was an error. I made a mistake and it's going to cost me Really That's what it is Because I'm supposed to pay per my rules that you guys saw. I'm supposed to pay myself And important areas when I have a trade that is moving in my favor Did I do that? No I was Didn't have the zone drawn. I didn't have that market profile drawn Hey, myself as a market makes money available to me log levels market profile composite highs lows You'll see that's where I should have been out of the trade and then it was also Important predefined zone based on candle structure. So I had both of those and I didn't get out of At least two of them. So it's my fault. That's a mistake and it's probably going to cost me I make silly mistakes too. So this is why right here. I mean I Holding on for dear life, but this is why I put my stop outside of the atr This is pretty much an exact atr from the bottom of the zone. It snaps back This is the out. These are algos guys. This is all they do all day long Especially when no big money's playing in here. So this is the whole reason if I survive this It's because I put it outside an atr If you I did usually two or three ticks, right? So I survived it for now They just can get rolling. I really really really actually I don't want to let's see if this wasn't official atr for sure This was 75 50. That's got down to 70 50. So that's five points Atr is wow, look at that the exact atr. But what would just happen there? Anybody tell me Since that went an atr, what should I do now? Let me know if anyone still tells me what I should do or what I Shouldn't do that anybody chairman in Bruce so because This market got an atr below this area even though I didn't get stopped out because remember I'm a three ticks outside the atr This still got an atr out of here that disqualifies for me. This is a long setup, right? So the whole reason if you remember I was going to go short this setup and we got an atr above it I cancelled my short same thing just happened here the other way We got an atr below it This is now cancelled which actually makes me happy because I don't want to add in this market So so I have this on how do you manage that then since you already have a position Oh This position is this position to add a new position based on a new setup, which this was That's disqualified This is already in off of this setup and I trail it just outside of an atr Right, I mean you could again you come up the rules. You say if we get an atr and get back to the zone I'm out I'm out of my lawn. I'll take mine. That makes sense So this position was based on this stuff I trail it based on this zone To add to a new position based on the newest setup I this cannot get a full from the long long aspect This cannot get a full atr below the zone, which it did so this is cancelled. This is still on based on this setup Does that make sense? Yeah. Yeah, so just bang up trade today though. This is really good. Um, Actually, Nick has a good suggestion here. Um And josh is asking questions about atr, etc The maybe we'll do a special event Scott and and do it on on the atr and You know kind of how you're using it because we just continue to get questions and then we'd have something to refer people to It's like here go watch this It's all in here Yeah, I mean, I have no problem with it. I don't know how we're gonna fill an hour talking about No, we don't have to it could be done in like 20 minutes or 15 or something but Just going through some examples and and you know how you use it and what it is etc Instead of covering it every webinar Right, right I mean, I do that. Yeah, I mean I explain it every trade I take but yeah, we can figure something out That's part of my course as well. So If I ever actually get my new course finished Yeah, I mean you have your risk management all geared around that and well entries actually everything. Um, so Uh, and then how do you know how much to put on and and you have your own calculator, etc right Yeah, so that's part of my part of the trade room as well. This is uh Sure, you could probably google and find something out there like this But this is like proprietary part of my trade room that'll help you Make sure you're trading the right size based on your account account size This is the main reason traders blow out because they're trading too big for their account size Right. So you you can imagine say you've got I mean, what are most traders 10 20 grand say you got $20,000 account Say I got a risk 15 points in the yes, which is commonplace You can see it already right now. Even I'm risking if I if I have a $20,000 account $20,000 account If I have to risk more than five points, the most I could put on is basically a one line So that just shows you how much you're over trading if you've got a $20,000 account and you've got multiple normal contracts on You're over trading your account and you're it's going to catch up to you eventually Right, but you can see here if I've got a risk 16 points or more More than 16 points. I can't even trade it. That's why you guys want to be trading micros, right? So all you got to do if you're trading micros Just make so if you have a $20,000 account you would make this $200,000 right the normal contract And this is all based on micros. So if I if I have a $20,000 account if I'm risking 16 points I can now put on five micros There's nothing wrong with trading micros guys at all and it helps you learn to manage multiple contracts So don't feel like I mean the commission Is a little out of line with what it should be based on, you know, what you're actually paying for the regular contract but Okay, the commission is very small a small price to pay versus what you can do to your account if you're over trading it And you will blow out eventually if you're over trading It's it's 100 you're gonna you may get away with it for a while a long while But you're gonna have a day that you get smoked and it's gonna it's gonna really really hurt your account And then you go on a death spiral and you're mentally Beating and your accounts getting killed like it's just not work. Just trade it and build your account up methodically You know this p&l Even despite this drawdown has been built up methodically when I first started this but it was based on a $100,000 account Right and it was as it grew I added size and that's the way you should do it So as you grow it, that's where you continue to change that spreadsheet and you could put, you know, another one on another one on So it's like I was trading ones and two is here and as this grew then it was threes and fours fours and fives Right, so now I'm at basically four four and five lot in the s And you're not doing that then you're you're you're not trading correctly and it's gonna catch up to you sooner or later All right, so this this is a perfect example how getting it outside the atr that for now that is I survived that stopout right that was My usual I'm old lately, especially this month has been stopped to the tick even when I put outside the atr But I've got this has been trial and error too. If you guys have been watching my webinars for the last two years Remember I was at like 50% of an atr and I kept getting stopped to the tick then it would go I'm filled in savings by the way, then I was 70% then it was 80% then it was 90% I kept getting ticked and then it would go I'm like, okay Because I kept trying to save a couple points, right like that was the whole idea behind it I was it was basically greed and I'm finally like, you know what I'm putting it outside an atr and then And then if it stops in the tick then fine. I still I still lose my mind, but it's like, okay It doesn't happen anywhere near as As I used to so I put it outside the atr. I avoided the stopout Here's 11 points and counting back in my favor So you guys almost turned me complaining for Hours over almost that stopped out by a point point three quarters or whatever. All right, so Speaking of fill to the tick This looks like it's going to do it to me So again, this is not a good risk reward trade at all. I'm basically I know the red lug is at 15 And I know that's the top of the market profile But trades on My stop is not going to go in atr below here outside of an atr atr is 3.73. See right there in the middle So I'm going to go three ticks outside that So it's 375. So that's 450 4 4.5 cents below here so four cents is 43 50 43 or I'm sorry 93 is my stop So this is not a good risk reward trade, right? So this is the point If you look at this and you say, okay, there's major levels I mean I'm doing this more for the webinar too because I just want to show you guys some trades but You know if you look at a trade and you're saying well, let's see here Yeah, the relative volume has been heightened it was heightened But we are extreme standard deviation from vwap and this is one of the main markets these great markets Are some of the main ones that will swipe back down, right? Um But if you say hey, this is a major area it's confluent with the top of this I'm risk I'm only if I'm right on this trade. I'm only getting eight cents if I'm wrong losing 15 You just don't take the trade, right? If you're down here and you say, okay, we got a long way. We got you know 40 cents to that red luck I'm putting that on And you see the difference. So that's what you have to determine as you get better trading. This is not Speaking of which what I'm going to do here I'm not going to trade full size here because it's just it's just too I don't feel like taking a huge beating on a trade that it's wanted to Risk reward. So I'm going to try to have size there again. I'm not real excited about trading gold But let's just take a quick look There's just nothing really going on here So below the yellow lug now we're dancing around the Dancing around the yellow lug You can see my excitement to trade this thing So what what you could do here is if you want to trade, you know, depending on what happens here We don't know until it gets an ATR out of here. What kind of setup this is but this is the ATR is 15.35 So round up 16 ticks So since we're around the yellow lug, I'm going to wait for ATR retest failure if I do trade this So I want to see 16 ticks this way retest failure 16 ticks this way retest failure Then I'll trade it and I'll put my stop an ATR outside an ATR the other side So it doesn't really matter right now because we're just sitting right at the zone So we might put on a trade there. Any other questions, Bruce? In discord in youtube, let's see Questions on the orange lug lug wig level How does that come into play? I thought it was yellow not orange, but Say it again The orange uh level I guess it's red Well, this so if you see this pinkish that it's just because we have she has what I call them baby lugs Or she calls them minor lugs right you see like right here minor So sometimes the minor is on top of the major So these are her major lugs and then these are the minors So that just makes the area even stronger when you've got minors on top of majors So for instance, there's there's a minor here somewhere too. That's why this is pinkish I think it's pinkish and colorblind, but There's no there's no minor lug up here. So you can bet it's on top of this And she thought I think she talks about that in our webinar as well But let's try to find another one Like this one here All right, so you can see nasdaq there's been not one signal in nasdaq today, but Failed at that one. It's starting to fail at that one again All right No, there isn't so there is a minor so that sometimes there's baby lugs in the middle Millions sometimes there's not but you can see the minor there's a minor here on top of the major So that's why this one's pink too. I'm trying to find one. That's just flat out red I think the crude was red No You do have new lugs and crude though. That's interesting Yeah, so you see right here I think this looks a lot more red to me, but you can see I think this a minor is just below here And then you got the red it's still pretty much on top of each other, but that's But otherwise There's certain conditions where she has minor lugs as well I don't I don't trade off of those like they don't scare me as much If the minor lugs are confluent with something else then I then I'll get out of the trade I'll get out of a portion, right? So say if we had like right now here, this is es This is actually a place I want to If this fails back out of here, I'm going to get out of a couple I forgot to even look at this. This is an important area If this is going to accept in here, then we're coming we should come back to the to the other side of this If this fails back out, I'm going to get out of a couple here and take my little profit I just I would have already done that the first time up here I just wasn't watching so you can see this is trying to push through here right now And they are starting to buy these stocks So this is another way you can use this tick strike again You get go to my website you get discounts to this as well. This is very important I say how it tortures me every day you call it waterboarding But you can see like if you're looking at an important level right here, you're like, ah, should I get out? Oh, wait a minute. No, they're buying all the stocks that comprise the indices that make the futures That comprise the future, right? So you're like, oh, I'm gonna hold this If I if I come up to important area this log whatever and you hear silence You probably want to get out of some right? It's just another thing You know, it looks like I'm using a lot of stuff. I'm really not and it's all very very simple There's nothing really complex on my trading and that's by design right the simpler every webinar same stuff The simpler you can make your trading the better So I'm going to watch this. I know this is that market market composite market profile composite Low right there that we're trying to punch in if this comes back out and I see red bubbles and this stuff dies I'm going to get out a couple 123 So this is good too right so now Now man, I got out of two of these because now there's a new setup You see this bias coming in now I can trail my stop. So now I'm not risking much at all here I'll just you know what I'm gonna do. I'm gonna put this back on Because no, this is not nor I don't normally do this But I got out of two there because I didn't want to risk 17 cents on this damn trade But now we have a new setup All the zone now I can trail my stop I'm not risking 5 million dollars on this trade Being exaggerating obviously I wouldn't add to this trade on this setup because it's right on top. You know, the red love is right above us, but Definitely can trail my stuff now. We already know What I say here was like four Plus that No, wait, I want to get out. I remember I said I was gonna get out of a couple of years I'm gonna get out of three of these right here Especially there's guys when you get to important areas and there's no relative volume. Be very careful and you notice This is quiet now Look like it could pop through there All right, so I was looking at ATR for the soybeans. I've of course lost my chart like I always do So I can hear 3.55 so I'm gonna go You round up and round up to 3.75 I go three ticks out of that Is uh 450 so 450 below here now I can trail my stop Bottom of the zone is 875. That's 475 425 is where I'll step out of this All right, and that's basically Not a scratch, but I'll just lose like three cents instead of 17. See the difference here So my original stop was here because of the new setup. I just saved myself potentially 12 cents of risk Now this is a good risk reward trade, right? I'm risking four to make eight If this gets up to 15 the red load is here. You can't always count on a new setup Right, so when you put on the trade like I said, you got to determine Hey, do I want to risk 15 to make eight? But now that the new setup came in Now I'm only risking basically four cents for my entry to make eight. That's good So I'm not going to get smoked on this trade if even if I'm wrong like I might get smoked here I didn't get stopped out yet. You can see it tried to get an ATR It's basically an ATR and then it's snapped back above this volume of that So the bottom line is if beans is right, this is probably going to be wrong because the these grades usually follow each other pretty tandem and sync All right, so we got out of three here So again, you want to be watching this relative volume and important areas And look at this this thing cannot even get to normal volume For this time period this time of day Again, it's not because we're at 10 o'clock 10 30 central Right, of course the volume is going to follow off at 10 30 central This is showing you 10 30 central for the last 30 days what we're doing and we still can't get above normal When you come to important areas if there's not participation a lot of times many most times get to snap back I'm hoping these stocks can propel this higher. Let's see All right, so I think if you're another guy starting here shortly any other questions bruce Yeah, unless you just covered the lugs et cetera. Um, no, we're all set scott. Um, so uh, yeah, some are doldrums and But should be picking up here pretty soon in september Yeah, usually, you know, you got a bit a huge opex tomorrow. You're gonna get some trade tomorrow Um, but who knows if it continues in the next week Again, just monitor your relative volume If you're seeing you open up your charts and you're you know Half hour into the day and you can see the thing can't get above one Just don't trade it trade other markets or go Enjoy your summer work on your trade plan for when it does pick up because it's gonna pick up And you're ready to go right instead of forcing trades in this chop fest Build your trade plan Take some of the stuff that I talk about try to build your own important areas so on and so forth And be ready to go when the volume picks up And don't throw away money and your mental um mental energy not fuel but energy That's like in something else, but don't waste it in this type of market and get all despondent and Hey, this stuff stuff doesn't work. I can't make money. The markets are impossible. They're You know so on and so forth You know build your trade plan. So when it does pick up you're ready to go and then you kill it Well, there is a little relative volume here, but You know, they're they're trying Let's see Oh my some of my targets now definitely Definitely the spot gamma level I'm gonna peek at the hero and see what that's looking like when we get up there You want to make sure there's no divergences? This is already starting a little this is not nothing major But you can see this is starting to head the other way. So if we get up to that 4,300 actually, this is qqq It's a good spy real quick Jump off Let's see SPX See how it's starting to roll the other way This is not red light green light doesn't mean all i'm gonna sell right now But that this gets down here and this gets up to that spot gamma 4 to 300 You better be careful being long especially if there's no relative. I am that's that Spy is not too bad now, but if you have this keep an eye on again You can get this to the bookman marketplace or on his website. It's something you want to definitely helps Because you gotta remember options player. There's a reason I use this stuff option players are a major Participant in these futures markets, right? So it's pretty a behoove you to know what they're doing Um, I was gonna say one more thing. I can't remember So pretty dead day. At least we got one trade on Didn't and you guys learned something about atr. I didn't get stopped out because I had it outside the atr Or you'd be hearing me cry this entire time. So that's cool. You'd have to listen to that Uh, and then you saw a mistake Again, my mistakes are your learning opportunities should have been out down here instead. I get to carry this thing up 18 cents That's not cool Yeah Good stuff. Um, so, uh, uh, yeah, thanks Scott. So we'll we'll connect next next thursday And we'll think about that. Maybe I'll reach out and we can maybe schedule something later Maybe in September on just atr. Etc It kind of a q&a And you go over what what you're looking at, et cetera, you know, I don't know something just It doesn't have to be any big formal thing But just something that will help others clarify and then we have it. So you don't have to go over it every all the time, you know That would be good, right? Um, well, I'm still I still have to I do it in my room every day But that's fine. So another thing guys, you know, we just talked about that spot game a level right around 4300, right? Well, you see what's there red lug pink lug And then you also have point of control and that's where it failed yesterday. So If this market does make it up here, it'd be very especially you start to see the divergence on the hero Be very careful trying to hold it thinking you're gonna get all the way up here I I will probably be out. Well, definitely be out because I get out the red lugs Unless I see some major relative volume pushing through here And then if you get it short that might be a good place to reverse it Yeah, that's it. That's my trick Yeah, uh, we'll um We'll connect next Thursday, uh, and uh, I'll put into the chat here How to reach you scott if anyone's interested in your services In that your trading room and et cetera um, or trading course whatever it might be, um, and uh, let's see, um Oh, and this will be you'll be redirected here to, um Uh Tom bees a webinar volume profile trader right after this. So if you guys want to just, um, Attend that one. This will go right to it And uh, yeah, you're all set. Um, and uh Yeah, no, I have nothing else to say Thank you scott. All right. No problem. I'll see you guys next, uh, thursday. Okay. Excellent. Thank you