 Good morning traders. I hope you're all doing good today. Welcome back to another bookmap webinar. We've got Joseph Gasparoni, also known as JTrader, joining us today, a professional stocks trader. These webinars with Joseph are held every Wednesday at 10.15 a.m. Eastern Time and form part of our education here at bookmap. The idea being these streams give you the chance to look over the shoulder of a professional trader and see how they use bookmap in their trading approach. Really a great opportunity for you guys to learn and improve so please once we get going feel free to ask questions either in the YouTube chat or the Advanced Webinar Discord channel. Right, before we jump into the live analysis with JTrader, just a couple of things to take care of. We've got JTrader's contact info here. If you want to reach out or hear more from Joseph, check out his website JTrader.co. You can also connect with him on Twitter at JTrader.co and the disclosure. All bookmap 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. Trading futures, equities and digital currencies involves substantial risk of loss and is not suitable for all investors and investors 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. Good morning Sam and everybody. Hello Joseph, perfect timing. Okay, let me know when you're ready to start. Okay, okay, you're good to go. All right, so good morning Sam, good morning bookmap traders. What I'm doing today is trading TCBAP, Tesla, Altair K, secondary is META and also yes. So I share my trade and I'm still holding short on Tesla. We're shorting from the level of 134 and 85 and we shared if you're part of the bookmap room, we shared over here the content in the stocks or in a small capital. So Tesla yesterday we took a main long from 126. Now this morning we have two main targets. So I'm looking for my main target over here at 132. Second one will be over here into the 130. So a whole round of number. Also looking at the volume profile. So working good over here on our Tesla. I will explain the process. Now managing also the trade. So this morning I was looking for this level 137.50, 138. My plan was very simple. I shared this. So I'm gonna share my plan so that you can see what I meant. So first of all this is the plan of yesterday. Yesterday I said key levels 125, 136. I'm looking to trade this with certain setups for a long. Calls 125. And this morning I said we're looking for all with a plan above 138 to take long or rejection of that 138. We're looking too short. I'm actually holding short over here. I said 134.80 for a few main reasons that I'm going to explain right now. So first of all, we had over here a reversal pattern on this hourly bar. Okay, this is eight o'clock. The second bar cannot push. This is the bar that also incorporates the open 930. It cannot push to this previous high. We start on winding over here just in the first minutes and then we start on winding more. This is the bar 10 o'clock and you can see that it cannot push to the previous high. It's making a lower high and it starts rejecting. Now we have to get with this also a main resistance over here on book map. So just the gate is pushed 136.50 near that main dollar resistant 137 and you can see subsequent lower highs lower lows getting to an into the timeframe. This is the morning open bar. So this over here rejects that trend line 136.50. This level 136.50 starts to make peaks over here. You can see lower highs. We're shorter over here 134.80 exactly this area here. And now we took 50% of the profit. If we crack this 132, then we're looking for that 130 area. Main sellers this morning on tape is unwind and updating over here chart. Main point of this traders is to not fight over here the trend, stay with the trend, but we're still making lower highs lower lows. No reason over here to cover in the entire position. We're holding short. I'm probably looking to add to my position if we're going to have a rejection from this 133, which is the previous resistance area. This 133. So we're going to look if we can add to that position. Yes, they were explaining the long. So this is what we shared in the room. So we longed over here to the 127.50 sold into these pops out of here and out, then prolonging more over here, holding this with the 130 ones and then holding something 30% for this morning. This morning, we had this major will hero zoom out so you can see the process. So start over here the longs. Every single trade was explained, alerted just when it took the execution. I basically use the chart in order to flow with book map. So those were the main points for me for entry. The risk was this low over here. So I was risking over here tight. I took a long and I took a short over here, but essentially didn't work scratch rates. And then I was looking for this breakout. So I started to sell a 10%, 10%, another 10%, 10%, 10, 10, then re-adding, selling a big partial. And over here, then we started to get back to this level. So you can see the bear trap, right? I was looking for the straddle and break. I missed this opportunity. I really missed this. And then I started looking this pattern over here. And I started taking small and loading over here. You see multiple executions. This time, I was risking this low selling again, 10, 10, 10, 10, 10, re-adding over here, selling 10, 10. Actually, over here, sold more because we're going into end of day. I set my risk 130. And then I simply held partial into this morning. This morning, what we had was what I call a fill fall through. So we couldn't hold, as we said on the hourly chart, we couldn't hold over here the support. We started simply to unwind. You can see it and start rejecting peaks, rejection over here, rejection of this level. And now we are below this 133, which is our guide. Okay. I'm making lower highs, lower lows. We're going to go over after an old TRK. I share this on the chart in a small improvement also, I assured in book map. We're short full size, 130, 1450 up here. So if we have time, we're going to cover that. I'm just going to share here how we took the trade. This is one of the traders that took the trade. So you can see looking for the top and then looking for the first target, looking for this unwind. Let's go back to Tesla. This is the main A plus setup of the day. So now there's only patients in this case. We don't want to take the entire profit. We're going to set this level over here of risk. And we're going to look also the bigger picture. But we can see traders that this is the daily chart. We had, first of all, let me put over here, we had a higher low. So over here we started making a low. This is also, we can see a bear trap, right? So we can see the players over here, they go for a breakdown right away. Somebody over here is starting to buy. Also we have some news of big players over here buying the lows on Tesla. And then we had this consolidation, right? Prices sideways. And I look at the daily chart when I trade. Also look at hourly chart. We can see over here that they started making this bull flag. So yesterday, when we started taking the longs, was exactly into this area over here. Okay, we didn't buy the breakout. We bought the pullback. And then this morning, and yesterday I gave target 138 and then 150 for these levels over here. Okay, so we had over here some consolidation. We had over here some consolidation. This morning we got almost that 138. And I said, or we're going to get 138 and rejection. Or we're going to simply break the 138 and then push. And this is not I said once that happened. I said before this happened. So you can go check all that I said over here. You can see this is the plan that I shared this morning at 830 on socials. Plan looking to buy dips to add to position long, of course, once above 138 on the breakout. Popping for your short reversal. So the one that we're trading right now. We're getting to the hourly chart. This is our hourly chart. So that is the bull flag that we were watching yesterday. Now this morning, we're topping over here. And now we're dipping into this support area. Okay, it's very important to support this 132 area. If you break, we have this level 130. And then really cannot want to 125. This is what in the meantime, we're doing on small caps over here. So beautiful work by, by Carl. So this is the main picture here on Tesla. Go back to our chart. Over here traders, where we have it right now on Tesla, looks like a distribution pattern. So major sending wedge over here, the center angle, nice, liquidated 132. So we have something like 103,000 on Tesla. Okay, first pop over here to above 133. As I said, I'm looking at this level for a possible read, not yet for me. I'm also over here looking and trading a future trader over here next to me. Yes. And thank you CL and YM. Right now we have, yes, just like near this main support area of 40, 15, still unwinding now, big candle just in this moment. So I'm looking also the, really the comparison between yes and Tesla. Yes. And if for example, Tesla was following pretty good. Yes. Don't look to trail more. If we close with the five minute bar above this 133 was popping above this 133 some rejection this 133. So I added small over here as we had a fake out. So I had a small to the short at 132 and 65. So we can see the break of this 133. And on book map, I really like this pattern. And I'm trading this pattern lately often. When I see a major resistance and right away, I can see a fake clear out. This is a bull trap fake break out. And then right away, unwinding. So now we have our trade from here, we added average went down to 134. Now maximum trailing today will be 133 and 25 123 123 sorry 133 and 25 133 and 30. They want to see if or we break over here 132 or trailing 133 and 30. Okay. Selling over here into this 132 and 40 previous support 132. So it's testing the support traders 131 80 breakdown, we're in, we're writing this perfect. Yes, it's coming down. So beautiful market over here. So good out of here. Update also in the stocks room. Right now next target is going to be 132. Essentially, we have a support over here 131. But then we're looking at this 130 as well. If I'm checking over here, the hourly chart, I can see also we have a main zone of volume profile at 130. So this is a pretty good catalyst. We had some tops over here, some dips. So looking at 130, pretty, pretty good downwind over here this morning 131 breakdown. You can see they're trying to soak over here, right? They soaked breakdown. They're retesting this 131 130.50. Now is rejecting this 131. So let's go back to the, to the one minute chart. Okay. So trading over here the one minute, but at the same time. So that, you know, I'm looking at the three, the five minute and at the 60 minutes. So, right? So looking at multiple timeframes over here, breakdown lows now 130.50. Remember, still making lower highs, lower lows. Next target 130. There we are. We're going to the main target 130 over here. So meltdown of this and 130 came. He has simply melting down. He has almost to the support 4,000 129 and 50 on Tesla. So we broke our target, right? So now I'm looking for the next target over here. Tesla giving back a lot of what made on this gap and extension of yesterday. We have a main pivot 128 and a little bit of consolidation over here. Let's look for that 128. So the bounce of 130. So until we are below this level over here 130, we're holding short. So now raising over here, they're raising over here, the liquidity is here. We have three main levels over here. They're trying to create a support on Tesla 130. Approaching over here 130. You can see they're still lifting over here the bid from that 129 and 60 to the 129 and 70. There we are. Now reason over here to get out entirely on Tesla on this peak. So main bounce over here possible reversal, at least the 131. So good if they try to take the majority of the profits. We should go back over here to the 131 over here trying to scalp long 130 and 15 lower size, 130, 15 just now. Long risk in that 130. And before we made a big profit from this 130, 480s down the last part over here to the 130.30. Now we're treating a small size position scalp because over here we have this fake breakdown. So we're looking for this 130 one. So we show it here. Again, chart is in small cap room and also upload now some charts in the bookmaid room. So here we had 134.80 short to the 130.30, the last partial. And over here we're looking for a bounce play long with small size. It didn't work. Reason over here to cut we were trying over here to get this push to this 131. Not working. So prefer to cut the position. See over here still amount of buyers this 129.50, 130. So they may try over here to create a hard low. Let's start looking over here traders for a possible higher low and a bounce. But again, we have to wait also the bounce from yes, which is unwinding still. Micro support 2980. You can see over here soap before 2980. Now they're starting to retest. Can I may sell over here? Jumping 82. But for now the price section over here. You can see the structure of this price section is still our highs. Now still not the lower low here. And again that support at 129.50. So we make over here finally hard low. Finally, I mean we're making a hard low. Well, yes, it's still making new lows. Okay. Yes, it's still making over here new lows. New lows. Yes. 4,000 hit. And over here support again on this Tesla. One wine on yes. So Tesla may break this 129.30. Again, retesting over here the low and bouncing. So we have a consolidation here. It'll be another distribution pattern or even reversal here's the upside. So watching a little bit closer the chart for a possible scalp again something that will be trading very small size versus you know what we had this morning. Again, now they're bouncing this 130. I'm not long yet just looking at price section over here. Yes, seems bouncing from that 4,000 area. So remember now for the interday the trend is bearish. You can see if traders this push over here 131 resistance just waiting right now no position so waiting over here finding more support on these dips. You can see like here 130.68. So they're trying to push this to 131. I may not take over here the trade. So only watching the price section 11 o'clock. So I may slow over here some of the liquidity traded watching the bigger picture. So we went below that 130 which was our support area. Here and then a reclaim that 130. So now it's consolidating above 130. So here we have two main patterns first one consolidation and reclaim of this 132 and 20 today or tomorrow and then push back again to 138. So I want to see over here consolidation and then a second one at this point. The second instead is we're going to possibly push over here to this zone where we have the supply and started to unwind and go back over here to this 126 which is the main support that we traded in the last weeks. Okay so plan over here B and plan over here A always try to make two plans so that you have no bias you're not stubborn. You're just looking at the two potential scenarios based on your analysis based on your strategy pull back from the 131 over here to the consolidation zone more than one over here going to the lows and I see over here big amount of sellers look all of this over here. So if you break this level now 129 next support over here in the hourly to this 128. I will post then charts how we traded at traders today also on socials so you can follow us battling over here with the 129. So triple bottom over here but still sideways action micro support the 129 and 30 and right now over here just just waiting this or this crack as we said target 128 or a reclaiming of the 132 consolidation then push it upside. So if who just came as I said we shared charts in a small cap room also share the charts in book map executions. So we showed it here this morning the 134 80s we covered the last partial in the 130s. We did the same thing on spy spy we're shorting from the 399 and 80 the first main cover 396 and 50 and we're going to share this also tonight on social so to see how to trade ease the team and specifying in these plays. Here is a good example of this consolidation over here where we see it these lows 129 and 30 139 and 40 over here a lot of bars jumping in yes tilted the lows Tesla over here trying to bounce again from these dips it's too low this gives and mid range over here traders so need to wait for that meanwhile Sam do we have any questions over here for today we've actually got one question you kind of already covered it with your plan a and plan b scenarios but Jonathan Scott is asking do you see a possibility of Tesla nearing the 127 level or lower today so if we hold below this 131 yes we can see definitely that possibility over here we have yes staying below 4000 that's another signal the only concern over here is the support over here that we're having with this fake breakdown and we see a lot of buyers these dips at 139 and 30 personally I'm out of here if any trade so we took the short we wrote it down so my day is done but below 131 yes we can see this 128 over here this pivot point very nice trade Joseph this is a again professional trade management guys and the first thing I want to say is on your mindset again I don't know who was watching last Wednesday when we didn't see continuation today we did see continuation you know you caught a nice move there but your emotions and mood they're exactly the same as last week you know no euphoria when you hit a big win no frustration when your targets are not hit just just following the plan day after day managing your risk exactly another thing it's important to say Trader is not about the win rate but it's more about the risk-reward ratio and your profit factor in this means even if you guys may have a 40% win rate or 35 or 45 or 50 the most important thing is on days like this or on days like yesterday hold your wins that is what is gonna you know give you a bait paycheck yesterday when we were trading essentially Tesla over here long I was saying multiple times don't sell too much and try to hold the position try to hold the main core to have these big runs to have these big runs over here it's like that that you're gonna grow your account instead I see a lot of traders that they simply want to get out too much too soon because maybe they were hit before and had stop losses well that is not gonna make you grow your account you have to look with your strategy what is the best trailing possible for this market scenario and then try to stick with it okay yeah do you have any more to say on the best ways to kind of trail your stop I mean you use market structure but we all know you know highs and lows can get swept and then you know rejected so you mentioned last week that you're always looking at where the break even point is when your trailing stops and you just basically keeping an eye on your risk at all times yeah that is essential Sam so in order to trail correctly traders and to recycle correctly so recycle is when you sell shares and you reassures your shirt you essentially sorry need always to know perfectly your average okay so it's not that you're gonna add and then you're gonna say you're short over here you're gonna add over here add over here and then if the trade goes against you you're right away you know you know in at break even or even below your average what you have to do is you short in this case we have a perfect view of rejection over here this is an easy setup and then use even book map to trail like the lower highs and lower lows so study the market structure over here of book map and you can use directly book map and the level that you see on book map as your I would say your guide yeah and that's exactly what you demonstrated today you know you added at one three two point five area I think it was and and you just defined your risk and and you accepted if it hits your risk you're out but it was still in the money and you just got to keep an eye on that exactly exactly so exactly but just just the the last thing I want to point out is simple how important is to the pre-market planning you had your targets or your areas of interest defined in advance another 130 area so you had no real surprises you know you don't want to be scrambling for levels while you're in the position you need to know in advance where the key areas are exactly because it's about key areas together so confluence of signals with a book map and then of course with your strategy you want to have all together and using that to gain an edge versus the market okay you want to call it that Joseph yeah I think we can call it because I think we have a session where we could explain a lot of things again traders give a like over here if you like the work we're doing especially in Sam and book map the work they put it in we will share again charts you can find them in small cap room with all the process you can study more about book map in the videos past the lesson and webinars we did we'll share also tonight this content so the trade that we've done and again see you next week thank you very much and take care user stop losses thank you Sam thank you Joseph yeah good stuff as always and and thank you guys for watching hopefully you learned something today Bruce will be back next week so please join us again then take care thank you