 Good morning traders and welcome to the live trading webinar with Scott Pulsini This is Bruce at book map Scott will be going through live trades here. He does this every Thursday It is futures trading so learn from a professional how he trades How he reads order flow and integrates that within his trading? Scott has some very unique ways of trading and also go through trade management entries and exits We've been doing webinars with Scott for some years now interesting back story where he traded 10% of the S&P futures volume back in 2002 to 2005 and He does offer mentorship and education I'll put this into the chat if you want to reach out to Scott you've got his email his website his trading room Educational course etc. Let's go through the disclosures and then get right to Scott So general disclosure all book map limited materials information and presentations are for educational purposes only and should not be considered specific investment advice nor Recommendations live trading is in simulation demo paper trading mode and strictly for educational purposes live trading Executed in simulation cannot accurately represent realistic trading performance risk disclosure Trading futures equities and digital currencies involves substantial risk of loss and is not suitable for all investors and 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 should be used for trading and only those with sufficient risk capital should consider trading Past performance is not necessarily indicative of future results. So please know what you're getting involved with here This is for educational purposes only. All right, Scott. Are you in here? Hey, how are you? All right If you can project your screen and then we'll get going here Guys a couple of other things to go over later today. We have a pro trader webinar with Faustal Polyase or Puglisi He he will be going over stocks in his process there and then all next week. We're going to be having a webinar Pro pro trader webinar series On options and book map, right? So it should be great looking forward to that The a lot of traders out there have requested options Information and reading the underline in book map. So just want to let you know about those events All right, we're all set to go Scott All right, not sure where we're going nothing going on here Waiting patiently it's a couple things I have noticed here This is a pretty important spot gamma level around here. We popped a little bit above it, but he talks a lot about These levels and then if you have this real-time hero, which is one of his products. Yeah, but it's also available on book map You start seeing divergences. This isn't a crazy divergence. So the these changes chart, too So I don't know exactly all the ins and outs of this chart. I just know this is the price of the The product so that the pink line is the is both puts and calls together. So it's the delta And I know that part I'm talking about this just like these new these newer lines. He's put in here as far as I don't know what they are. So hey, he's gonna be presenting next week Monday if you want to ask him or we'll ask him there Cool. Yeah. Yeah, I'm sure he's talked about it. He puts ideas in a bunch of webinars I just haven't been up to speed on it, but you know, I watch this in a very general sense I tried not to I mean you can dive down to this options info. I can go down a huge rabbit hole It's all very interesting, but you know am I trading I try to keep everything as simple as possible as I always talk about So all I know is when you see the options go in one way and you see the mark go in the other the market eventually will turn around and Start to move towards the options and you know options Activity so There's a little divergence here again. The black is the price of the SPX and it's the options then if you look at spy Same type of thing. It's not a crazy divergence Sometimes you'll see this black line like up here and then options down here. This is not a red light green light Indicator like I always talk about but you want to keep an eye on it. I on it, especially at imports buck ammo levels like this here You know, and then he comes out as a commentary Every day and he basically I mean the main levels 4,000 resistance 30 to 960 to 3950 is the pivot. So it's right. This is right around Where we're at and again, it's you know, we could pop a little bit above there and then have it fail So I'm watching this zone for this area closely Bigger picture view. I Also know this is the top of a current Day balance here. This is a very very important balance area. So you had You can make this one big balance area, you know activity here balance areas again Are just traders placing bats right guys are guys are short guys are long guys are short guys are long I want to finally moves out of here That's where you get the pukes, right? So when markets break out of balance like this one did you expect it to hold and continue higher Well, this one has come straight back and now this is a very critical area So when markets break out of balance areas, they can retest the top Of the balance area and then continue onward the last Um area Of support would be the high volume node and that's where we're at right now. So it It not only you know, it did retest this area But it didn't do that and now we're just sitting here. So I mean, I'm leaning towards This type of move just based on one It had its chance to continue to repire didn't happen And now it had its chance to bounce off this high volume node and instead we just built more balance right here. So The move out of this balance area is very likely going to be the You know extended move and They're talking options expiration on Friday is the tomorrow is the actually is it tomorrow? Where's the next Friday? Let's see here I think it's tomorrow next week's FOMC And then I think next Friday is the option the OPEX Here we go This tomorrow This is probably tomorrow So either way You know, it may just bounce around on this balance area today And there has not been one signal in any equity market today I should be really anything except for gold and I missed that triangle go over that There's been a little bit in sweetenance, but Bottom line is this thing is just kind of sitting in this balance area So we're right at the top of this zone where this has failed multiple times, right? You can see this is a resistance area This zone was drawn from something over here and I just left it in Because it was important for a while, you know a lot of times when you draw these zones So this is the directional conviction to led to this whole up move, right? That's where this started and then we came back here And you had buying tail buying tail buying tail and I finally broke selling tail And then you had to get up this day ripped right through it came back kind of struggled here So, you know, I technically can when a market trades through an important zone a bunch of times you can remove it I just left this in especially now. It's showing it as the top of this balance area as well So I'll leave this in so the point is if this is able to break out of here And then I'm expecting moves up into these areas, right? If it It could very easily hold here come back to the bottom and then do that That's what I'm expecting based on what we just talked about But you know you come and what you come up every day you look at the bigger picture and you come up with If then scenarios, right? I have in my mind what I think should happen this should hold here And then we should do that if this happens to bust out of here that I'm ready to pivot and look for longs, right? Because Again, this is balanced. This is a multi-day balance going back to last week, right? So These are traders longer term traders loaded up in here If this is able to move out of here these shorts are feeling pain. They're going to puke and that's going to lead to About most likely enough move, right? If it moves lower than the longs are screwed So that's what I'm waiting for here and you can tell it's just nothing going on guys just holding their breath basically so There was close to a threshold setup over here This was like 600 but 636. I mean it was pretty close. It would be nice for cells. He has 203 comp reps 636 I don't usually go under my thresholds. I'll go above I'll raise my threshold for the day if you know I keep seeing so my threshold in es is 700 meaning I need to see at least 700 icebergs to Draw the zone to play off the zone, right? I rarely go below that Um, I mean, I guess you could have drawn this I'm not I'm just going to wait for something else But this was interesting here. This is another great feature of bookmap global plus here. You can see these sweeps That's important information, right? You get 2400 it's someone swept the order book By sweeps for 2400 right and then you had another 600 here then you had a little bias So this area is really important. So if this holds Then we're probably going to break out of this balance area of the upside that I just showed if this fails Then there's a lot of longs that we're jumping in here that are going to be in trouble. So I'm not going to draw that zone. I want to stay consistent with my thresholds and here's another swipe too But you can see here So you've had this is interesting, right This this is the transparency this stuff this shows you, you know, what's really going on in these markets You're looking at a bar chart. You have no idea what this just happened. You had 3500 swipes here You had another 3700 swipes here. You're a little bit of ice. This is a very important area There are loaded up traders in this area, right? Everything's fractal So this is like a mini balance area that I was just showing on a on an hourly chart It's the same thing right now. So these are traders Someone is swiping this so somebody's selling it when it gets swiped So the guys that were aggressive are kind of like, um, what's what's happening here? This is not going up. I swiped we swiped 6000 contracts out of 1000 contracts And it's not moving higher and the sellers who the responsive sellers the passive sellers that got the orders swiped They're holding their breath too They're holding their breath as well. So that's what a balance area is Guys placing bets. So the move out of here is probably going to be a big move Right. So that's what I'm waiting and I'm waiting for an actual setup that's threshold So that's that Um, gold. I missed a trade here earlier. I stepped out of my office, of course, and it was perfect So we had a there was a monster stop run here earlier Again, you can see the sweeps. That's why the sweeps are great So all stops are sweeps, but not all sweeps are stops, right? So this was Sweep it was a stop run These over here in es These were sweeps But they weren't stop runs, right? So all stops are sweeps not all sweeps are stops. So these were Again, these were just normal sweeps, but they were not stop runs if they were stop runs You would see it on the si sub chart. So it's just it's just Good information I have and that's again that's part of I always get these questions easy and I was asking if they should get regular Global or global plus, you know global plus you get the sweeps indicator the absorption indicator. What other indicators are come with this first? I don't know I'm sorry say again scott What other indicators come with the global plus because I always get questions when guys are trying to set up book map or By book map they're like, well, what should I get global or global plus? What's the other indicators between besides the sweeps and the absorption indicators? So you get the imbalance indicator a strength indicator a large lot tracker and Many I mean they're all useful The the sweeps and absorption are I think, you know more useful They're they're newer And they're pretty nice what they can show The other ones are are great. I mean I I've been demoing the Volume and book and balance recently but They're also trading from the chart with one click, which is a huge benefit that all comes with global plus right um Yeah, and then when you're talking about the strength indicator that is basically just synthetic icebergs and that they can Yeah, I mean we just we had to kind of explain it better than I can Yeah, I mean it was a kind of a way there's two actual ways of trying to detect them The synthetic icebergs And they were just giving us false positives and it really it was so dependent on quality data that You know rhythmic was the best but The mbo data is is Spot on I mean it it if you want to look at native iceberg orders Look no further. This is just the the facts so You know, it's much much high quality or high quality right, so you know for those of you I want to know the strength indicators over here and it's basically just it's two different types Just google the stuff, you know book map strength level indicator and I'll talk all about it It's basically and that's what this showing here. It's showing you synthetic. So some of the icebergs are You know not so the the icebergs in stop the icebergs you see in and the sub chart are Through the CME exchange, right? And that's how and through the CME mbo data They're able to disseminate that information and give you this this incredible information, right Some firms pay extra and they put and they do a synthetic type where you're not seeing Seeing it through the CME, but book map is still able to pick it up based on The activity in the order book, right? So it's like with icebergs they're obviously hidden orders because Big size big money doesn't last big size because the elbows were run away So this for instance could have been like a ten lot in the order book and then when it hit They can pick up the way the transaction occurred that it obviously showed 10, but 300 almost 300 traded so they can figure out Book map developers can figure out. Hey, there was an iceberg. There was synthetic That wasn't part of the SI sub chart the CME mbo data. This was the means it was basically Done through a firm on their own type of thing, right and that cost more money That's why most firms usually use that usually go through the CME to place their icebergs and stuff but It's kind of diving down a rabbit hole But just so you know with some of these it's the whole idea what I was trying to get to get at was the You know that the global plus is the way to go in my opinion just from the sweeps alone and the sweeps and absorption Any care alone, but I'll talk about that and you know, I got my new course coming out I'm hopefully that I've done in the next week or so But I'll talk about the I talk about the synthetic or the strength indicator in there as well How I use it anyway, um, all right. So anyway, yeah, there was a setup down here Gold There was a monster stop run. You can see these sweeps from earlier. Let's see This one here and this was like a thousand stops, right and then it came back down Then you had another it makes this one looked small. So threshold there is 150 So this was double threshold that makes it looks tiny. There was actually back to back Um, but you had you had the big one then you had the second one here and the second one This is the swipe zone here That was this and that should have been for me an aggressive entry Long because you guys hear me every week talk about the lead wig levels the calm lugs You can see how well It's worked I mean three different times this thing this one came close this touched exactly this touched got Just a tiny bit below it, but this was the stop run setup. So My some of the best trades out there are sci indicator setups One of my six setups at important lead wig levels the big she calls them big blue big red, right? So at these areas, it's where I'll take the setup aggressively Meaning I get the setup and as soon as it moves in atr just outside in atr out of that setup I'm long So I should have been long on this setup and I just was not in my office So I would have been in leave at the time the atr was about 25 ticks So I would have as soon as this is fired off. I would have had my order ready to rock 25 ticks above the top of the zone and I would have been in and It's uh, you know, let's pull back a little bit now. It's now you're just getting into algal algal though. So pull back. So actually this is a retest failure of this area too, but I'll take that back. That was this this was this setup here But you know, if I was long, this is a new setup here. So we could draw this It's not as big as the other ones, obviously You got to be careful on gold I continue to say in my room every day that they've got to have the worst traders on the planet in this market It is nothing but stop runs. Just stop stop stop stop So, you know, you can get whipsawed in here very easily The Which you want to look for In gold what I've been trading off of mostly unless I see a monster stop run It's just waiting for icebergs because they're few and far between in here and you're just playing the stop runs You're getting whipsawed all day long. So So this is the this is the most recent setup So if I if I were long from down there, maybe, you know, if you guys been following me You guys could have easily caught that trade and been long here. Well, this is a new setup So now you can trail your your stop just outside an ATR below the zone So ATR right now is 25.8 or 26 ticks. I would go 10% outside of there So you're talking about 20 28 29 ticks below this zone to stop out and then you hold this trade And so that was long Again, they all work perfectly when I miss them If I was long, I would be holding and I would watch The major Ludwig levels to potentially get out of the get out of this trade So I'd be watching this to get out of you know, if I had multiple one to get out of one I would also see I would hold it to see if we can get up to the red lug And or opposing setups So if this thing started rolling up and I got a bearish setup as I indicated or set up one of my six setups And it failed more than ATR outside there than I'd be out of the trade Right and then the other important areas you want to watch are bottom tops and bottoms and marker profile composites So those are areas that I get out of my trades You definitely want to pay attention to Speaking to watch this right here So this is interesting too. There's not a setup here, but if I got a setup right now and yes, I would take this aggressively, right? Once again, you see how awesome how powerful these Ludwig levels are, right? So this was This is overnight This is going back to yesterday's close. This thing cannot get through this red lug One two three four, but like multiple times here tried here. This is actually a great signal and again, I talk about this the One on one I did with Pamela Ludwig last year where I literally it's very basic I went in just to ask her basic basic questions But one of her favorite setups is when the market does push above or below a major lug It's not able to draw new lugs. That's telling you the conditions aren't there and then when it gets back below the lug Those are excellent trades, right? So I so here's a train lugs and you'd be in right now I personally look for um My volume setup real-time volume setters as a driver while my training has been even if anyone's been on my webinars knows that So I wait if I don't get it I don't get it right and if this breaks down then it breaks down There's going to be a setup right it may not be right here This starts rolling down. You're going to see a stop run, especially the area We just talked about with all this Siri right here You can bet once we move out of here You're going to see some stop runs because there are loaded up traders right here Right now So we'll look at the rustling on a second, but when this moves out of here I will almost promise you there's going to be some kind of stop runs So the point is i'm going to miss this trade right now off of the red lug because there hasn't been a setup for me This moves a little lower. There'll be a setup then i'll get in This over here. This is tix tray. I could talk about this every webinar too all this stuff You can get discounts on my on my website for this these are all the tools that I use This is just showing you I put up the stocks that are the highest weighted that drive the indices that drive the futures This goes from zero to 15 showing that intensity of the buying or selling these and it's an algorithm they they use as it shows Um Speed of the orders and the size of the orders come in so this is very important information If you're trying to judge certain areas, you know, so say December You know, we come down to an important area and you're thinking about getting out and you see these things getting hammered You probably don't want to be getting out right then right because if you know, they're selling it. Why do you want to be buying it? So now we're getting some setups finally so this i'm expecting some pukes and pukes meaning stop runs in the s like I said, but we're getting some here in nasdaq That's threshold threshold for me in nasdaq is 150 when I say threshold I'm just saying An amount that is tradeable. You got to be careful. Many people get book map and it's like they're you know Get in a candy shop And they want to trade every spike on this thing There are certain spikes that I will not you know, I don't trade every spike It has to be over a certain amount for that market for me to know that's important And you know, it's from watching thousands of these over the years that I know what the thresholds are For each and every market right that is worth trading and that was basically figured out by trial and error Right. Oh, so I finally learned so bruce. You're gonna get a verbal lashing on this webinar One, why have you not told me about the hotkeys for the drawing tools? You got your sitting watching me do this for about three years now and then coming back and editing it Why didn't you tell me there are any hotkeys sir? I did when Yeah, and I even pointed you to the the knowledge base like the hotkey list, etc I don't remember that. I'm gonna call false. You got to go back to one of the 400 400 webinars find out. So there's two different things actually that are very important here So you see this white line I used I did not have this white line on before when I first got book map when I was doing the stocks I was going to trade stocks because I was so jaded by futures at the time and You guys all know the story that I went to futures when they came out this essay indicator Because this is the most powerful thing I've ever seen but at the time when I first got it I'm like this line is annoying me. I don't like that line. I'm just going to look at bubbles, right? Well, and I forgot about it, but someone in my room pointed out And I'm very grateful for it that You know, I've been drawing. So let's just take this off right. I've been drawing my This price so I've been drawing my zone is just on the bubbles, right? So it's like, you know, if the bubble extends up here and down here So we'll draw this on the bubbles and then see if that's accurate or not I don't want to miss a trade while I'm giving you guys examples here So first and foremost ATR and it's 28.24 in here. So this did not connect here above there So I haven't missed a trade yet, but the point is There are some great features as far as being accurate more accurate with the zones, right? So if I bring on last price Just right click the bubble and then configure visible components come down to last price And then you actually see the line of the last price, right? So I can actually This looks okay for this price. I mean I could probably move it because you could see the red bubble starter Actually, this is too high, right? So There's another also I didn't know about so if you hit edit then you can drag this zone too Instead of redrawing it this stuff could have saved me hours off my life So I'm going to draw that to right there as the price for that bubble started, right? So That's on the Upside so the downside you can see like this is not drawn properly. This was the price you can see out by the white line So I am going to So Line so that's going to be way more accurate Even even though the bubble goes below the line, that's the price So I've been drawing them off the bubbles erroneously And I can't I don't even want to know how much money that's cost me about getting ticked out and not having to Proper because I trade off ATR off of the zone prices, right? So it's like the zone prices aren't right My it the my entries and exits aren't right either It's it's a little scary how much that could have cost me but at least Someone spoke up in my room and told me about reminded me again I knew about this but I took it off because when I first got I'm like I thought that was I just didn't like the look of it, right? But it's very important now that I'm drawing zones and want to know the prices so In the last few days I've learned hockey's from my room And I've learned how to draw the last prior have the last price on there So hopefully I can I'm probably going to revert to doing the same thing I've been doing But I'll try to do the hockey's the best I can because I know it's annoying to watch as well All right, so let's see where we are bloodway level wise So I'm not going to sell this aggressively because I don't mess with these major lugs unless I see extremely high relative volume coming into them And I get a setup like we do what we have right here If it was extremely high relative volume, then I would and I'll show you that here in a second Then I would potentially take a short off of this current setup that just fired off on the book That's not even a care This is not extreme volume So I am not going to take a short aggressive here You've seen how would that have worked out if you shorted out at this 85 times this thing has bounced off the the blue lug in the last day Yeah, you would not have fared well, right? So this is Every time you would have been juked, right? So this is why so now here we are again. Let's see if this can Here's through here and then build new lugs. Then I'm then I'm ready to short, right? So my point is I would be getting short here. This was not right at the blue lug I would be getting short here aggressively, right? Meaning just outside the atr again the atr is now up to 30 38.81. So 31 ticks 31 points. So 31 points below here, which is basically right here And this isn't a coincidence that these algorithms start to rip it back at an atr I would be getting in short and then I put my stop in atr above there But again, it's just keeps bouncing off this blue lug. So I need to wait for me I'm waiting. Yeah, I just know how powerful these lugs are. So I'm not messing with it until we combust through here So that's that. Uh, yes, we still haven't got a uh gotten buying setup But I can tell you there are some All these guys are all going the whole swiping this thing for 7 000 plus contracts. They can't be real happy right now Even no matter what they were doing, even if they're getting out of trades, they got to be like damn Why did I why did I swipe up here when I could have saved myself 20 points, right? So this is going to be good because if this can hold bus lower No new lugs retest this area, then I can short this this newest setup. You can see the cell ice coming in right here You had some stops. That's not threshold, but this is how I says so let's Oh and the other thing too What you can do is Dim your dim your bubbles up here. See this little slider You can make a ridiculous or you can make them nothing Now what I can do is I can actually see that line a lot better and I can draw my zone Much more accurately so you want to you know, you want to get all the prices so that actually went up to this price here All right, I'm gonna have to draw a new zone here anyway because something just uh fired off So you all you do is incorporate all the prices that happen in this fight There's new stuff going on, you know, I trade off the newest setup, so we're just going to draw what just happened You can see here. There was stops another 180 stops in here. Let's get these going again And then there was more cell ice. So there's a lot of cell ice coming in here I mean, uh I'm gonna draw this You had cell ice cell ice cell stops. So this is actually the Unicorn stepbrothers. This is the sixth setup that we've come up with That my room named when you have cell ice and cell stops, right? So let's just draw this as one big zone Let me first I keep see I told you I'm gonna keep going to this drawing tool because I'm not used to the hockey yet But let's draw this Yeah, scott. I'm gonna have to throw some weight around and uh I I don't ask for much credit, but when it comes to the important things I do I believe I was the one that suggested the uh stepbrothers Really, I I don't I don't think that's correct because I can I'll let you I'll let your room I'll let your room come up with that Answer that one. But take credit for it. Yeah, I mean answer that one But yeah, I thought that I had come up with that one I've actually never even seen that movie. So I I I deserve it. It's pretty good. It's pretty good. You should watch it Okay, so you can see here. So now this zone I do the purple for or pink whatever color blend whatever color this is Uh for the unicorn type scenario where you get the you had This was threshold 180. You had another 238 and you saw the stops all in this purple unicorn zone All right, so that's drawn properly. I'm pretty sure or maybe not. No, that doesn't see No, so you see here. I did not incorporate this properly for the for this area. So I what I got to do here is Go zone drawer Remover I got to move that up, right? I need to incorporate all the prices that happen in this spike So that should be Pretty accurate. No, I still didn't get it because this is really important if you're trading off these zones, right? Because if your prices are based off of the zone So you want to make sure you get all the prices so you can see that's that white line That should be good there and I can bring my bubbles back Ridiculous, but all right. So now what I'm waiting for is a Our new lugs. I'm hoping they're already drawn. Let's see here Not yet So the way I'm in what what's probably going to happen here is if this market continues lower We'll form new lugs and the yellow one will probably be right around here blue will be down here Right'll be up here. We have our setup right here. So I'll wait when we're dancing around the yellow I wait for ATR retest failure. So I'll wait for the full ATR a retest a failure This is the conservative entry and then I'll go short So we got we're waiting for a lot of things to occur here. I mean it could happen pretty quick But the point is I know this area is very important, right? So all these gung-ho buyers, they're not Feeling very good right now, right? You see the blue bubbles that signify the buying and they ran into mouth mouthfuls of ice cell ice, right? So This is the stuff I look for This is the most important part of futures trading is understand any trading is the volume, right? You want to know where traders are committing and and caught So all these buyers ran into this somebody's selling it secretly hidden orders They're not always right. The big money's not always right. They're right more often than they're wrong, but they're now is right So the point is you know the area This is called the volume of that now we're waiting to see how the market reacts to it to take the trade, right? That's what i'm doing there. I just heard cl What's going on in here? This market's in trouble. We'll go over the bigger picture here in a second It's been in trouble, but it's I think it's going lower as well like now Why so first of all, let's dim our bubbles Now you can see perfect price line, right? And you can see the on-chart you can see the red that shows the actual stop From I mean how cool is that that that's this guy's this is information that most traders do not have that you have All right, so let me try my little hockey is here We'll put it right at that red bubble Well, I'll put it at the here here because this obviously this bubble triggered it right if you do this that kind of triggered it But let's start at the line will be accurate I'll change the color here and that came down to here That may or may not be right right because you see the spike continued over here So we'll check here in a second. Let me just change the colors here That's one thing there's not a hockey for that as far as I know that would save a lot of time as well, but I guess can't be cheaters All right, so that's that's let's see if this is correct Yeah, so you see I incorporated in this spike. I you can see this white price line I got all the spikes in there actually I'm like, you know, that's right Right, so now I bring my bubbles back You can see the big selling which was just stopped on it, right? All right, so that's step one step two is where are we at r is 37.3. So it's 30 round up 38 ticks to determine What's what we're going to do here and we go to the lugs So this is an example of the this is what I'm expecting a NASDAQ here any minute Well, we built new lugs we're below the old lugs so I can take this trait aggressively out of that stop run zone So if we get 38 ticks below that zone, which is just outside me to actually I go 10 percent So 41 ticks outside that zone. I will short the mark. I will short aggressively aggressively meaning I have two different types of trades Either aggressively as soon as it gets just outside an ATR. I'm in Or I wait for an ATR. I wait for a retest. I wait for a failure and then I get in And so this one because we're below the old lug and I already know this market is in trouble On top of it that's not my determining factor though, but I just know remember we talked about the if then scenarios I already know this market is in trouble. So I'm more than happy to short this aggressively So the next step is 85 20. We're going. What did I say 30? 38 ticks Oh, it is 38 ticks. So we're going to go 41 ticks Well, 42 ticks we're going to go 10 percent of an ATR outside, right? So it's ATR is 38 10 percent of that is basically four. So it's 42 All right, so we go 42 ticks below here puts me at 78 as my entry We'll check that too That is my order So now that's to the short side. Well, does that mean I won't go long? I let the the volume area tell me if it's What's happening? I don't just jump in right? I wait So if this is able to push a full ATR above here And I know okay, then the buyers are winning and then I wait for the retest failure The only reason I'm doing the conservative entry on this setup is because we are below the yellow lug If we were above the yellow lug, I would do the exact what I was going to do here on the south side I would be doing on the by side So now we just let this play out and see how this market reacts to the real-time volume of that Which is the driver of trading Not lines on a chart not indicators. It's real-time volume events All right, it's just I'm very surprised we didn't see stop roads in the air out of this area Like we were talking about but if this moves a little lower you should be starting to see something But there's just been nothing threshold But these swipers can't be real real happy No swiping swiper Anyone with kids knows what that means. All right, let's see uh, what we missed in Russell So you can see here there was 226 followed by 178. That's a lot 150th threshold for Russell. So let's draw this on let's dim our bubbles So happy I thought of this I keep saying that in my room. I'm kidding my The guy in my room pointed this out and it's just saving me So much time and money Having accurate zones. All right, so that's that so I'm going to incorporate both of these Areas it's going to be a bigger zone, but they were there's basically back to back Right, so just follow it down to these price levels here Bring the bubbles back because when you bring the bubbles in right like if you have them like this It looks like the but the price is lower than that right, so that's You want to be going off the price line the last rated price not the bubbles To that zone and of course here's your usual ATR to ATR retest of the zone over and over and over and over My room is listening. They know what I'm talking about. We have a couple different So we're working on new strategies too. So I'm not I don't talk I just talk about the general my general position trading on these book map webinars, right? But in my room we're working on One at a time but working at a couple really really cool strategies like more of us It's not I hate to use the word scalping, but it's more of a shorter time frame Um, you know in and out type of trade. We've you know, I've got about 50 of them on my head But we're working on one on one. So that's another better for my room when we come in here I'm when I'm on these webinars. I'm just doing my basic position trading because it's just you know People are confused enough that are just learning this stuff I'm not going to start diving into all these different strategies, but that's you know, again We're doing that stuff in my room. All right, so let's uh So we are above the old log here, right? So meaning any setup I could take Progressively the long side that gets out of there to the short side and is the ATR retest failure And I think this is happening here right now ATR in here is 46.5. So 47 ticks. This definitely got 47 ticks below there I need to be in this trade actually right now Over this here in a second. So then my stop goes actually this is probably too many for the size of this One of these of course, of course it moves against and never moves in my favorite for me to If I make a mistake We'll go over the sizing stuff here in a second as well But so now based on this zone and this is a pretty wide zone. I mean, this is almost 60 tick zone This is incorporating again all the sell-ice. So the way I trade these because Algos run the show They are 85 90 percent or more of the trade right So I force when I get in trades when I go short I for I don't just put my stop here I don't put it in the middle of the zone. I don't put it right outside. I put it a full ATR Plus 10 percent outside of the zone that helps me from getting elbowed because that is the majority of the trade Right. So when the big money is done playing then the Algos start playing right You don't want to be the trader that gets stopped out because you don't want to lose a certain amount of money I don't I don't want to risk $400 here. So I'm putting my stop here Well, this stop means nothing that market does not care how much you want to lose Right market cares about the volume event So you'd be wise to put your stop outside of the volume event for me after watching again Thousands and thousands and thousands of these I determined the best way to trade this as a position trade Is to get your stop and more than an ATR outside of the zone And then you don't get whipsawed and stopped out on randomness and most of the market is Algo randomness until the big money comes in right? So it's just Algos Algos Algos big money comes in runs over the Algos Then the market trades a certain way and then the big money stops then it's back to Algos So, you know, there's a trader in my room that was complaining about I don't want to I don't feel you're basically risking You know, you're getting in an ATR and then the size of though And so I'm risking like three ATRs to you know to get in the trade Guys, do you think I like risking up to here? I've learned the hard way though when I start to mess around with my stops and try to be cute because I don't want to lose a certain amount of money Evidently I get stopped out on the nonsense. So I'm just giving you my experience That's why you guys are on the webinars. This is not just some hypothetical stuff It's from trading thousands of these that I've learned the hard way Don't mess around get your stop outside of the volume event, right? So that would be 40. What did I say this was? 27.4 we're going 10% outside. So it's 48 and five ish 53 ticks right on 53 52 ticks So I'm going 52 ticks above here. It puts me at 24. I'm using the last two digits here I come up here and I put my stop 24. Yes, this is a big risk trade But then you have to just adjust your sizing Can't control the volatility of the market. You can control how much you trade in that volatility If you are over trading in a ball of the market, you're going to blow out your account This is what this spreadsheet is for that I use in my room Right, this is all part of my room as well. If you come in there, you get access to this. This is actually I'm actually I'm back after my August pummeling brought down So right now, let's just see how this works. I'd see if I have the right size on so I'm risking I got in here 71 So this would be 100 ticks up to here And then that's another basically 50. So I'm risking 150 ticks on this trade But the volatility is telling me that and the size of that, you know, my setup. I think this market can move 300 ticks right where I would put the trade on So we're gonna come all the way down here to 150 ticks Actually, I could have four on Good five on right. So you see 150 I can put five on based on my account size That I'm trading with and then only risking 2% of that account size You should never be risking more than one and a half or two percent. So that shows me on this trade I could put this on so I could put on five Let me guess now that I want to put on more it's in my face No complaining on that. So I'll put on two more Then my stop goes up here for that All right, so that is locked and loaded. We're short Russell We didn't see what happens here in azdeck. You can see it just bumps around the zone where all these traders are loaded up I think we bounced off the blue lug once again Yep, no new lugs. So I'm just waiting for new lugs All right, the other thing you want to notice here too, if this starts to move lower So the other day There's a lot of stuff going on today. Well, I forgot if I put an order in here. I can't remember All right, so there's new setups here. I'm going to shut that. I'll go back to the azdeck. So you got stop run stop run We'll just draw the most race in here dimmer bubbles Use my awesome hot keys that Bruce never told me about. Let's go over here You wait Bruce Yeah, I'm here. I got that All right, so no, actually I did have I had this waiting in here So what I'm going to do with this as long as this doesn't Because there's going to be instances. We're kind of like this, right? So we had our first setup That was this that we were trading aggressively out of the zone. Remember Then the stop run came in They didn't draw that one then this stop run come in. Well, you know, if you keep getting you say I want to go short and I keep getting set up set up the wrong color. Sorry I keep getting set up set up. Well, you know Based on my the way I trade I should Based on the newest setup, I'd be Didn't canceling this order and waiting for a full atr below here But when you're getting stop run stop run stop run You know, you may never even get in the trade or you just you just keep following it down So the way I do this as long as This order is going to stay in here I know there's a this is the newest setup as long as the market can't get more than an atr above the Newest setup. I'll still short this but it's even better now because I'll short it here But I'll trail my stop on the newest setup, right? So instead of risking an atr above here I can risk an atr above this one, right? So I'm about to get filled right here through my other so that was at what 78 Then we'll go over why crude is Getting pummeled. I think it's still That even with another setup in crude too. So that was another setup So this is what I mean, like I'm not going to keep moving my entry down and I missed the whole move, right? So as long as it doesn't get an atr above here, I'll still short it this price. This is the newest setup. So let's just this There's been three stop runs in a row So stops, so I'm going to draw the newest one That's where it started Let's see and that's incorrect, right? So you make sure you get all these prices inside the spikes So I now I'm going to come in here Of this new feature too That I didn't know about for four years How long have they had these hockey spurs so I can get them upset? Let me ask four years. Just about four years Do you know, do you know how many hours of my life I've spent drawing zones and racing them and Anyone that has watched my webinars that they're pretty annoyed as well. I'm sure but if you're annoyed, I think I feel All right, so that's the zone. So I will still enter right where I was off this initial Stop run up here. Remember I was getting in aggressively because we're below the yellow log off of this stop run That's this order. Well, I'm going to keep this in here Even though the new one came in I'll still fill in this but now I can try on my stop based on this So actually I can try I can even put on more size here who I could do Because I'm not risking as much December spots top cell and feud 193 contracts All right, so this the rusell is working here. Yes, December spots top cell. Yeah, there they are There they are December I size for by and feud 151 contrast All right, just quickly here So we got a ways to go to anything as long as there's not an opposing setup here I'm holding this to baby lug and regular lug and then you also want to watch market profile composite You can see the market struggled to get in here the other day. This is a very important area 1830. So we're right around this area Actually the first one 1830 is up here. I'll probably get out of a couple right there And then I'll let the rest ride and see if we can get down to the blue lug All right, so let's see if we should have new lugs in nasdaq here. I would think Come on All right, first and foremost, let's go to we'll wait for that So Gold's getting smushed hold on a second Hold on a second. All right, so this is this is the stop run. I was waiting for right. I'm surprised I went this far before it actually started getting smoked guys puking You can see They held their breath for a while here though, but then I said, okay, I'm out I think there's more to come obviously whoever with those 7 000 buy swipes were it wasn't really a good choice All right, so you can see The stop run started you can see the red line. I mean, how great is that? Accuracy wise You can forgive me if I'm going the old way. It's going to take me a while to remember to do that keys All right, so that's that I think Sure, that's it. Remember you want all the prices in that zone. That's correct All right, so that's step one. Let's get our bubbles back So You see 187 like I told you guys the worst traders on the planet are in gold stop run after stop run after stop run 8.17 is your current atr in here Good traders All right, so we're at right at them. So we're actually still above the the yellow log Right. So if for instance if this setup I just drew it Holds and we move above here. I can get an aggressively long For me to get short. I need to see the full atr which is eight and a quarter points I just showed that then I need to see a retest of the zone and then I need to see failure and then I'll go short You want to pay attention to this area where it couldn't get to multiple times the last couple days? Looks like we had it right there. If that gets out of here armageddon going to zero today Just kidding, but I still think it's going to get smushed um All right, so eight and a quarter points and we know the bottom of the zone is at 37 quarter, right? So I need to see What's that 20 28 25 28 Meaning remember I said I need to see atr retest. So I need to see a full atr Then that's down to 28. That's eight and a quarter points Then I need to see it come back retest the zone then I need to see a failure I go atr plus 10 percent. So I'll go pretty much nine points out of here And then watch it go to zero today That's brewing. We're already short rustle And then I'm just waiting for new lugs in nasdaq so I can take a short on a retest about everything that just fired off I cannot believe this is not updating But it is what it is. I mean, this is what this refresh button is for too because Especially on seros a lot of times the data gets stale. So you have to like yeah, you definitely have to refresh Or restart it, but I restarted it this morning. So I know that's not the case. So or the parameters just aren't here yet And you can see here as well This is an area where this could temporarily bounce this prior and this is where this if you look at this This is stuff you guys want to pay attention to right? So let's undo these merges this day This could not get inside this very Profile there. We're out with right now Try to get in nope try to get in no close back inside Here we are again this gets inside here. It's very high odds that we get down to there That's very likely could bounce right here, right? So this is a this is a great trading area right here If you get if you get a set up right here, it's a very good area either either way you want to trade it, right? Some merges back together Very important area Any questions first by the way? I've been talking non-stop for almost an hour Uh, I've been answering a lot of questions in here. Let me take a quick look All right, so we had by ice here just I didn't mean to cut you out But then I'm going to draw this so that this is the most recent zone as well So let's see how this reacts. So you can see one you see the swipes, which is awesome But this didn't start till here. So I'm going to quote this at the top of the zone You can see it. Here's the spike. Here's the here's your lines And there draw that there There's no bring your bubbles back ATR in here is 32 So this is now officially an ATR below here, right? This just moved Right now it is So this just moved 32 points below here So actually even if we don't get new lugs now that this has pushed an ATR below here if we go retest failure I'm going short this market And this mining this is a place this could easily bounce back to the zone too The retest failure there and I'm waiting for an ATR retest failure in es and I'm already short rustle So we said what 28 in here So we need to see 28 so guys remember like that this is the way I trade when the lugs are in a certain position Or if we're a certain area, I wait for conservative ventric does it mean it's going to retest? No If from my experience my studies, this is not official, right just from watching thousands of these eyes I Know that these markets retest the the volume areas About 80 percent of the time. That's just my personal experience. I don't have data for that But if I went back and I did it I and I went replayed every day for the last three years I would bet you that's 80 percent You know You just don't know how far it goes before it gets back goes back there But 80 percent of the time it retest so my point is I'm waiting for one of these It may not come back here And I just sit there twiddling my thumbs as the as the market dies 50 points, right? So you have to decide as a trader How you trade this stuff is the art talk about this every single webinar. This is the science There is no disputing. There was a thousand stop runs here, right? How you trade this is up to you You may say I love this area to go short the minute this breaks out of here I'm going short or the minute it gets an atr below. I'm going short aggressively. I'm not waiting for a retest This is the way I trade it. You can adapt my style or you come up the wrong style Say this every time I highly recommend you Do what I do to start and then as you understand it and you have success with it because this is the ultimate Edge you will have success with it if you follow the rules Then you can start adding in your own flavor and different things that you you know, you know, like you say This is an important area. I want to be short right away stuff like that, right? But this is the way I trade it doesn't mean you have to trade it like I trade it But you might want to heed my experience of watching thousands of these is what I'm telling you So this may not retest and I may just be Sitting here watching it die. I am short in Brussels. So at least that I got that going for me, which is nice movie Bruce Caddy check a thousand times You're about to get another verbal lashing caddy check which one what is it caddy. Very good. All right, you're out of the doghouse for the day We're definitely in the doghouse. So there we go finally got the new looks perfect All right, this is Russell. But first I just want to see where this market profile composite high So again, that was 18 20 Basically 18 30 ish right So I'm just going to put an order in because I know I'm going to miss this trade getting out of a couple of these So I'm just going to put my Make that three I'm going to get out of three there and I'm going to let two ride and see if we can get all the way down to the blue Love today So that's that Now we have new logs You All right, so I was waiting for the retest of the step, but well, what did I do there start this please This epic pan. I did something. I just did my old screen So anyway, I was waiting for a retest failure that now we have something new now I could trade off that and I could probably trade aggressively because we're both the new yellow lugs so let's Re-up and draw this So you can see the big money's starting to play right? That's what you want to wait for that big money disrupts the algos You don't want to play in the algos That's why I always recommend that you're not trying to short-term scalp for a couple points because you're going to get Algo to death unless you actually have it programmed right So big money For algos worse nightmare. It runs them over. So when you see the big money, that's like go time for Directional trades and that's what we're trying to do here on this position trading That I'm doing that your newest setup You're just hammering these stocks. How are those buys those 7,000 buy swaps up there at the high? Was that a good trade? Whoever did that? I think if they're working for a firm, they're probably fired right now. I can tell you that all right, so So we're almost at the blue lug already on the new lugs That's only 30 points away. So now I can't really short this because I like the whole reason I just said I don't shorten the blue lugs But there's something you want to pay attention to where I possibly could remember I said as long as the volume's heavy heavy relative volume, then I could do that and you can see Granted, this isn't at the blue lug, but this is what I'm talking about if I'm seeing relative volume That's two two two or more times than normal for this time period That's what this is showing you and then I'll then I'll shorten into a major lug We're not there yet, but if I see this kind of bar So say the blue lugs right here, which it is and we get down here and then I see one of these Then I'll take the short aggressively see what I'm saying other than that I just pass on the trick because I'm not I know how powerful those lug width levels are So that's that zone I got filled at that On three of those almost to the exact tick that's not coincidence again. That's why you guys want to know these areas very important for to you know Take some of the some of your position off where it was my own Over here So that red that blue lug in azix 92 50, but back to the Russell. That's this way That was that that wasn't even right Yeah, it was way down here. What am I doing discuss myself 50 ticks? What I what I was just looking at I'm gonna put those back on because I wish that should not have been my exit That was just a mistake on my part, but I got lucky and then I was able to enter it at a better price This is where I should have been out down here Try that again. I'm sure that'll work out for me, right? Sure. We'll rip up 400 ticks now all right All right, so now what do we what we're waiting for an nas nothing else has come in so this is still an active Volume event that I'm waiting for a retest failure We got the atr now I'm waiting for it to retest then come back and fail Then I'm going to go short and my stop's going to go an atr above there My room members are on this webinar Then they should be in a one of our main trades that we've been working on and they should be very happy right now because it's Looks like it's working So we're below now we're below the oh look, but see how we're kind of just dancing around it So I'm still going to wait for retest failure, you know Technically, I guess I could have got it short aggressively, but this is kind of dancing around So I'm just going to wait for retest failure if I don't get it. I don't get it, but it's happening right now My retest is within 10 percent of the atr of the zone. So atr is 8.25 That's basically 0.8 ticks Our 0.8 of a point so within one point of this Zone so the bottom of the zone was 37 quarters of a distance of 36 quarter. I consider that a retest right And then when it does that I'll that's where I was short waiting for this My room is in this tray. They should be long based on what we've been talking about again guys I'm not gonna these bookbeb webinars are just position trading webinars if you want to learn the shorter term Things we're working on head on over, but it's pretty incredible the thing that we're doing right now And they all work perfectly when I'm not taking them Because I can't take it right now obviously All right to heck it to 36 quarter it sure did See the price line there right there. So that is an official retest So now Atr is still basically 8 That's not a coincidence that that just got real closer. I've watched that a thousand times All right, so now I can get in this trade So now we got to figure out a risk, right? So if I'm getting in nine points, so it's yeah It's basically nine points eight and a quarter points So I'm getting in eight and a quarter points That's just outside an atr as it comes back Then I got to risk eight and a quarter points above this zone All right, so that's right there is 16 and a half points plus the size of this zone is another five So that's 21 and a half points of risk I have to take All right, so then I go to my risk calculator again part of my room don't email me for this This is one of the perks of being in my room What did I just say 21 points? I could put on a three a lot Based on my account size for this position trading and then risking 2 of that aka 3400 bucks Got it so I can put on three So the bottom of this zone was 37 quarter So that's uh, I can't I can't head right now It's 29, but why can't I add right now 27 28? Yeah 29 28 75 is actually eight and a quarter That's where I will go short this So that's ready to go so You know you Like I was talking about the art you could say the minute this retest I'm going short right here. I don't need to see it do this again All right, you can say I'm waiting. I'm gonna wait to even get in this zone I'm gonna short there you can get it you can do whatever you want it's your money Right, my point is this is the best way that I have found for me personally after watching this for so many years now The best way to Because I see all the time you get the ATR you get the retest and then it just does that And you're like, oh that didn't work. So I wait for it to fail again, and then I'm in Smoked on this for not just getting out when I could have but that's fine Follow my rules, right? It's it you guys you have to follow your rules when you're trading You cannot be randomly subjectively changing things that when you have trades on you're never going to be a consistent trader And everybody out here knows what I'm talking about Any questions bruce like get a drink of water Yeah, hold on Not I mean uh someone's saying that you're you're looking at maybe the september lugs not the uh uh December uh for what product? For for I guess on the on the lug wig levels No, I mean each product these are all december this is december all this all yeah these exactly right so this didn't switch That's good to know. Thank you All right, let's see what I screwed up here. Let's see how much money I cost myself here not entering short a long time ago This might hurt here I don't know why is this so when you when I on my other products when I change this chart change the market profile chart this changes as well I was just not that's not cool. Thank you for pointing that out though No, it's mr. Mr. Shizzle m shizzle. Um, so uh, oh she she's actually in my room. That's my band shizzle Okay, I wish someone else would have told me this You know never What's my own fault obviously, but you know when you got You know 100 sets of eyeballs on your charts. You think someone would have noticed that All right, so it's pretty much the same right this is even better though because we're not now This is actually good. Thank you for pointing out man. It's shizzle. It's shizzle. Okay, so Remember I was saying we were so close to the blue lug. I didn't want to short this aggressively But now I get shorter aggressively right because we are Granted we're dancing around the yellow lug, but we're still pretty much below it And I already think these markers are going to zero based on my if then scenarios, right? So And I'm just kidding when I say that don't take that literally and put on a train and then Write me and say I thought you said it was going to zero I just mean they're gonna get they should get killed and you can see this is accepting in here That's first and foremost. We saw what happened here that led to this a lot move now. We're back here I think it's that and then lower All right, so anyway Let's get in this trade aggressively short so I can be short all three that's going to be a peach. I'm sure that'll work out 30 and a half is your uh Is your Doesn't matter So what I'm going to do here, I'm going to do what I'm going to trade off of this original zone And then I could trail my stop off this new setup, right like we've just talking about in the Crew what I think it was so 11 50 30 point 31 points that's 81 50 80 50 plus 10 percent this is like 78 50 This world short does aggressively And then what I can do I can actually probably put more size on than this because I'm gonna my stop is now been contracted and I'll show you that here in a second All right, let's see if I can use my hotkeys here So you can see these stops you can see the red line you can see the white line I think that's correct. Use your hotkeys. Use your hotkeys There we go There's no hotkeys for the colors, right Bruce? No F you're back in the doghouse Let's get our bubbles back. There's your zone. So what I'm doing now is If I get filled on that trade So remember what I was going to pretend this yellow zone is not there Remember, I was going to short this. I'm still going to short this aggressively based on this, right? I will still short off of that zone But now I have a new setup Now I can trail my stop And before I was going to have to travel on atr above this right now. I can travel on atr above this She'll basically put me just outside that zone versus an atr above that zone I'm filled on Yes, too. So we'll get our stop in there in a second So I could go I could also go long here too if this as long as this doesn't get an atr below I mean a grant I would be filled but I could get an atr. I could go You know if this gets an atr retest fail, I could go long But I don't think that's going to happen. It doesn't matter what I think right? I let the volume tell me but I have my opinions but My opinions usually are wrong. That's why I have a system Not wrong, but you know when you when I'm trading my whole trading used to be by gut With scalping right like in and out of the order book all day long Now my gut feeling is wrong probably 80 percent of time. So that's why I have a system All right, all right. So now we're short here. There's nothing new come in So I have to put my stop eight and a quarter points below here or above here It's actually important that now atr is up to eight. So nine points above this zone What's me at 49 quarter Yes, December ice iceberg by yes, there we go 700 to contract So that's what I wanted right because now I control my stop instead of 49 and a quarter I can now put an atr above this newest volume of that this setup. So I don't get smoked here Use your hot keys use your hot keys blue for by ice I still not fill the nasdaq by the way All right, so we know the top of this zone's at 27 quarter We're going nine points outside of there now for the stop, right? So that puts me at 36 75 Right. So instead of I just save myself over 10 points of risk here 36 75 My stop You know, I am right in front of that zone You could move it outside of that zone if you want, but I don't want to risk another five points I'm just you know, I'm following my rules here. So hopefully you guys follow what I did there I'm short and now what I can do here too is add to this trade if it moves an atr below here You want to be very careful at spot gamma levels Oh, by the way, remember we talked about at the very beginning of the webinar on how this thing Was had it was having a divergence Out of that workout. You see that Just to spike up and this was this isn't this wasn't a big divergence Let's look at the but there still was a divergence and I was paying attention to that Especially at a spot gamma level that which was up there that we talked about that 39 60 area you see This event this is not red light green like I said, but it eventually catches up, right? You had the options going this way market going this way market turn around caught up Now they're just kind of following each other. So there's no real edge there So blue lugs not all the way down is the 38 97 quarter the one thing I want to pay attention to I I really want to I mean I already have my stop in But I would not be surprised if this market paused here It's taken multiple days to even get to the bottom of this guy If this does a bounce will not surprise me at all. I may get stopped out of this yesterday if this can Punch through here, then we're coming down here would be my call. That's my opinion, obviously, but But I'm I'm all set. I could I just let this play out now. I don't sit there. I'm like, oh, I don't know Should I get out here? Should I this is an important level? I have this is the most important thing this not not lines I know that's an important area. I'll get out of some You know Like I am in the Russell. This is too close for me to get out of this one And I already know I'm not risking much, right? But if this was you know, that market profile was way down here, then I'd say yeah, I get out of one But I just entered this trade I'm just going to let this play out and hope it could punch through if it doesn't Then it comes back and stops me out. I take a small loss on this trade It's not a crazy loss move on to the next one, right? You know, I'm already and I just got filled I This is a very rare occurrence, by the way Remember I got back in because I made a mistake here on my exit and then I just got filled that This is the exact thing we're just talking about in In ES, this is the bottom of this one, but we had out of one here right in front of that, right? That's why I got out of three right there So that was a good trade And I still have two on now. I'm going to let this puppy ride Unless I get an opposing SI signal Hey being about a bullish signal say something comes in and we do ATR retest failure Then we'll get out other than that. I'm going to see if we can get down to this 1814 area And that would put us Right around the point in control too A little under But it blew us a little above the point in control But you can see that's where this basically ripped off from the other day. All right, so that's that I still was never filled in NASDAQ Remember if this is able to get an ATR above this latest volume setup, then I'm canceling this short Which it may do right now. So the bounce I was expecting so I'm probably going to take a loss on that ES You can't predict what's going to go on. You know your areas and you play your rules, right? It doesn't think it also just kept going which it's been doing lately on the sell-offs. So 31.32 is your ATR here on top of this yellow zone, which was the stop run Was 96 quarter So it puts me at 27 50 would be a full ATR We still haven't got a ATR so this short is still alive if this gets up to 27 50 Which is a full ATR above this This is canceled So that area did hold an ES, right? That's and I knew that was possibility But I just made a nice try on Russell. So I was willing to let that go. I mean, this was almost to the exact tick You can come up with your rules and say, you know what? I don't play I'm not going just like I don't go short into a lug. You say I'm not going short into a market profile composite Well, I'm waiting for it to get out and then I'm just like I wait for new lugs, right? I should have probably taken it maybe taken off one there, but I didn't and then I did it for a reason I knew this could easily bounce here, especially after a straight move through this Profile area, but I you know, I made money on that Russell trade and And I was able to control my risk. I was able to bring my wrist down 10 points, right? So I was fine with that This could an ATR above here Pretty close 25 50 missed by two points Oh, here we go. Now it's coming back All right, so I'm assuming I'm gonna get stopped out of this ES trade Still alive right now, but so What I could do is well now Again, I think these markets are going to zero Again, kidding. I think they're gonna get killed. It doesn't matter what I think I'm letting this tell me So if this is able to get the full ATR above here, stop me out and it does this this and this I'll go along Right. I am a day trader. I'm trading off real-time volume events Right. I have opinions. So the whole idea is when you have an opinion or you have a thesis and it It starts to move in that favor and then you get the volume event and in your favor That's when you trade bigger, right? That's when you can you call that an a plus trade. You could trade 4% of your account value, right? So I always say You know most of your almost all your trades unless 30 plus you want to be 2 at the most But if you get a trade where you're like everything's aligned you get your volume set up You're like I want to trade 4% well, just remember the most you should lose in your Or your trading count in a day is about 6% at the most at the most This is where you cut yourself up Well, if you decided to trade bigger on one on a setup that is just slapping you in the face Fine trade four you can even trade six, but if you're wrong, you're done for the day This one if you trade four you basically have if you're wrong You have one more bullet if you lose you're done for the day set it up with your broker where you've hit a certain amount You're done. Don't think you're going to be able to do it I'm not going down this rabbit hole. I've done it a thousand times But just don't think you're going to be able to do it When you're emotional, right when you're taking loss after loss after loss and you think you're just going to stop Most traders are very competitive You know when you're playing a game and you're getting beat down like a baseball game or tennis or whatever You don't just say i'm done you win. No, you say let's play another one. Let's go, right? You do the same thing with trading you're like screw that i'm risking another five grand And then five grand turns in a 10 20 50 and then you pull out your account, right? So like I say every webinar if your broker does not do that for you get another broker There's plenty of competition out there find a broker that you will set a predetermined Stop loss for the day where they just turn you off until the start of glowbacks, right? Like use the saying all the time. It's one of the best things out there Everybody's got from Mike Tyson. Everybody's got a plan until they get punched in the mouth, right? Yeah, I'd love to get stopped out of this puppy All right, so took it, you know, that was that's a small loser I my risk was 3,600 bucks originally and I took a third of that right because of the new setup allowed me to get out So this is what i'm talking about guys like this is the most important information If you're watching this sell-off you're like, yeah, here we go. This is it. This is the big one You have no idea this buy ice came in here to stop the market That's the most important information you can possibly have and if you do know then you adjust You're like, oh, okay. Do you think I like to stop the buy ice coming in? No, I wanted this thing to die, but it did and it stopped the market. That is really important information It's the information to know Yeah, you know stop out and the way I do it at ATR above there then I'm done with the trade I wait for my new setup Right, if you're if you're you know, just looking at a bar chart You're like, what just happened there? I don't I don't understand we We're breaking down out of this balance area and the things should have just died Right, this looks like this it still might it's just retest in the bottom of this But right now you're like whoever's short and they got short down there like what the hell just happened Well, you know what just happened buy ice just came in and stopped the market That's pretty important information Any questions? I think we're all set up. Johnny said he came in here for the rants. Uh, so You're building a following Let me let me see here. I think uh under We have any questions here What I'm gonna do here too guys I've adopted this new rule as well after a couple of crude trades I had on that were huge So I get out one of three reasons, right? Major lugs red and green. I mean of all my position. So red and our blue and red Are blue and red Opposing setups. So just like we just did for the yes, right? That was a posing setup. I got stepped up Or if the market moves just outside two atrs from the low That low point it or if you know if I was short from the high point Two atrs away from the low I'm out there too because I can't tell obvious as I've had on where because again I'm waiting for a lug or a volume event. Well, if that doesn't happen I've had a couple trades and crude like it, you know, it was like this And then it would just run 170 ticks the other way with no setup. No nothing And I'm holding the bag like what am I doing, right? So I've adopted that other I've added that other rule and if it does move in atrs about 52 right now So I'm basically just outside 100 ticks here if it moves two atrs I'm just out of the trade and I'm you know, nice profit onto the next trade So that's my rule that I've incorporated as of late All right, so we actually just got a new setup in ES here. So like I said, you know, you get stopped out Wait for the next setup. It can be right back in here. That's 500 That's exactly threshold right at this other stop run area, but I'm going to get done rid of that because There's a new event Draw this correctly and I'm going to use my hotkeys like the wizard that I am so glad I figured that out I'm never going to live that down. Am I? No, because I would have been like what? I didn't know that that's awesome So that you hear me complain every webinar about the 1982 drawing tools Scott, let me show you at first hand. Let me let me take control of the screen. Let me show you these So you you have enough but you today but you redeem yourself with the caddy check quote, so I'll forgive you Lucky They're late than never to so at least I figured it out And I didn't figure anything out my room told me about it. So guys, that's that's the importance I have in community too. I mean bookmap has the same thing the bookmap discord Most of you are probably on that or the youtube, but That's one of the gifts of having a community, right Different people have different views different people know different things like seed things that I've never seen a couple of things on bookmap You know that I didn't know about that they that they point out and other things too like I don't like the one thing. I don't allow my room is guys just throwing on trades and You know or after the fact. Yeah, I made 30 points on that or yeah shorting. Yes here I that's fine. That's fine. If you want to say what you're doing but say why you're doing it That that's how my room differs than other other rooms. I don't allow Guys just making random calls without explaining why they're doing it And then I want then if I don't like the reasoning or if I think the reasoning is faulty Then I give them a verbal lashing and I'm like that's incorrect Like what you're doing there is not correct because I don't I want my room to learn I don't want I don't want them just following haphazard nonsense calls anybody can make a call It's 50 50, right? Oh, I think we're going down. Great. Why are we going down? Um, well, let's see. There's a there's a fibonacci moving average cross spiked with an rsi with a it's like, okay, that I don't that's not good enough for me I want to know legitimate reasons and I want to know that, you know, you've back tested it so on and so forth Right. I mean, I'm not saying that there's not not good reasons to be trading, right? You may trade off the rsa. You may trade off fibonacci's fibonacci's are fine You know as far as the access to stuff and my point is I'm not saying other methods are wrong But you better have a good reason why you're using them so on and so forth So that's how my room difference. I just don't let nonsense fly in with guys making calls nonstop. So There's one guy in there is actually still in there. I'm sure he's probably on this webinar that was supposed You know, he kept making these calls and he kept putting these zones and First it was after the fact and then a couple of them were you know, you call beforehand If we would just draw these zones and everyone's saying well, what are you trading off of? So I said if you're going to keep just posting zones Explain what you're doing. So he's supposed to be doing a webinar for us and now he's disappeared. So I think he's in the book map room. But if you're on this, we're waiting for your webinar, sir All right, um, so I just got stopped out of that Russell the two ATRs That was a nice trade there. I took a small looser in here. Actually, I completely forgot about crude I'm sure oh wait Okay, that's good I just was stood back and forth here. Oh my gosh. This was a huge winner. Look at this. What did I do here? All right, so I'm probably stepped out of this right now. Actually, I'm just going to get out of this That's not cool This this is what that wasn't a winner. That was a big loser Was there just some news out too? This one's trading like those news. So that's that was not good So I got in here and I knew I This is probably pretty much what should happen here actually So I guess got lucky. I came over here quick enough So remember I was getting short off of this setup up here Which I did and I remember I traded more size So I was getting short off of that and then this stuff came in and I was and I said I'm just going to keep this original entry but I can trail my stop based on this So I think this was almost perfect. Actually, of course, I have it on my other account that I didn't have a stop in So ATR in here is 38 So I should have been in out 40 ticks above this zone 42 ticks above this zone That's me at 47. So I literally got out almost the exact price I would have gotten out So that makes me happy that I didn't carry this thing Huge in my face, but it's still not cool This thing was just trading like something just came out like when you see the thing like fluttering around like Crazy something there's news and I just got burned the other day. We had an awesome trade that new trade We're working on on my room It was working out fine and then that they came up the Biden administration said that something about the reserves The emergency reserve and the thing just ripped like a hundred ticks straight. So, you know, that these are markets guys That's going to happen. So you take your loss like whatever it's something just came out there Whatever happened happened on the next straight sucks That's trading The thing is we talk about this every webinar too, right trading as a percentage gain You just keep putting them on you're going to have weird crap happen. You're going to have news events You're going to have A fed clown talking in the middle of the day five times a day that's been happening like the things like that where they you know All bets are off, right and that's just that's part of trading But if you have the edge You just keep putting them on just like a casino knows they have the edge They just let players play they don't at the end of the year. They'll be profitable because it's math Same with this. This is the ultimate edge. I know over the course of a series of trades I will make money some trades aren't going to work out like this one Let me get out of this But this is now by the way potential long setup, right? I don't think we got an ATR below this zone. Let's see Bottom of this zone was 85 We got down to 50 54 55 30 ticks ATR 36 ticks so that did not violate to the downside this setup I'm going to make this a different color. So not confusing the people So that's that setup. We did not get an ATR below there. So it's still qualifies isn't long for me Now what we did is we did get an ATR above this zone So we go ATR retest failure I'll go along. I still need to see the retest because I'm pretty sure we're still below the yellow log So this is the conservative entry Well one second guys Okay, sorry about that All right, we're getting close to the time anyway. I think that your other guys starting here Right, so we're below the yellow log. So I will go along this setup, but I need to see ATR retest failure So I'm just going to delete this because this is done. So this confused people. All right. So this is the most recent setup We did not get a full ATR below here. So this is still qualifies as long. Here's your ATR retest failure I will take the long here now This is an important area In crude even though I think this thing is in trouble This is an area where it looks like it may hold the zone over here. It's buying tail directional conviction It's trying to hold here So we could just pop back up and do what crude does just whips off for another day or two, right? So I'll go along. I'm letting look at my my thesis is short. I think this market's going to get smushed Does it mean it's going to happen right now? I'm a day trader This volume setup is telling me this should have done that it didn't now We got an ATR that that is my proof that the sellers are not winning. It was able to get an ATR above here now. I'll go along That makes sense All right, Bruce. This is any other questions Fire away if not, I know your other guy's starting here. So Yeah, no, just just one one quick question. Uh, any do you do anything differently due to the quad witching? Um You just you got to be careful I mean, I don't personally but it would probably be wise to either cut down your size or Maybe not even trade that day, right? Um, it's just like we talk about all the time in my room No We have we have a couple different trades the main trade we're working on besides position trade even position trading is the same thing When these guys these fed guys talk four times a day lately. It's it's just insanity, right? So when they're talking it's just I don't care what you see here They say something different the market is just going to rip a deal because it's new information It's just like trading before a number, right? So you have to be very cognizant of that and say to yourself You know, it's fine if you try if you do trade in those situations But if you do you better be ready for some nonsense, right? Because it's new information in the market So the wise thing to do is if that guy's talking if a number is coming out quad witching so on and so forth You just don't trade that day, right? Or are you are you cut down your size? So I personally, you know, I'll trade quad witching, but it's probably there's a lot of dynamics that day and It probably skews my overall results. I would guess, you know, as far as wins and losses, but personally do I try not to trade with the fed chirpin But you know, sometimes I find myself doing that as well I make mistakes like everybody else and get you get antsy and stuff like that But the smart thing to do is just not trade those events or trade when those things are going on Um, all right. So quickly this volume event fired up down here. This is now cancelled. Obviously we obviously got an ATR You can see it's struggling at this prior one Um, I do I do get questions sometimes. Hey, do you trade prior events? I always divert to the recent event Revert divert whatever that is supposed to be Um, but if the event led to large directional conviction You can play it as a retest failure type of thing and this one obviously led to Directional convection, right? That was this move here That's directional conviction. So you could trade this if you wanted to I'm not going to put this on right now But you could trade this as a literally a retest Failure as soon as you get an ATR out of here. Give this short a chance I would definitely watch this this zone here That's the last set up that fired off to be getting out and then maybe turn around get out I'm gonna quickly draw the zone to see how we're gonna play it and I'm not buff. So here that fire off Still coming in that's threshold 700. Yes, December. I sliced for by yes 703 contract even more And just a quick note here Mike and Noah really appreciate your webinar scott. So They're getting back into trading or they they it's just really really look forward to it I did put your contact information in the In the chat a few times So if you guys want to reach out to scott about his course or whatever, you can reach him there And again guys, I do this guys and girls. I do this twice a day every day in my trade room So do an hour in the morning hour Actually more than our usually hour and a half two hours in the morning and then an hour to close at the close So that's exactly what you're seeing here. I do all day long. All right, so that this is the volume event that happened All right, so now we will Quickly my process where we are and where are we at in the lugs? We're above the o-log so you could take this aggressively long All right Again guys the Ludwig levels aren't on my website But if you email her or go to the Ludwig levels calm You put in the she's got three a free three day trial So you saw the Ludwig levels on the book map webinar and she's got special pricing for you guys And you also get special pricing as part of my trade room as well ATR here is 8 8.09 So I can actually because we're above the o-log I'm just going to delete this volume setup right now I can go long this aggressively Right Again, I'm a day trader. I think these things are going to get killed But the volume events are telling me that's not happening right now, right? So am I just going to short it just because well if I was looking at a bar chart I might but I know Do I there's bias that the market just reacted to where I reacted down here when we got stopped out Now there's more bias and the market just popped off of that too, right? So if this moves eight points outside of here at nine points outside of here, I'm going long 36 quarter So that's 45 quarter I will go long And that's the right size because we were doing an often ATR earlier, right? So that's how I will play that I will still go short this too If as long as it doesn't get an ATR above here to disqualify my short I will we're above the o-log so I'll wait for a full ATR or retest of failure and then I'll go short again Right Just keep playing the probabilities. This is the biggest edge you can have you have your rules Don't violate your rules wait for your setup and let's go time All right guys unless there's no other questions. That's it for me Yeah, no, that's that's it. Thank you very much scott and we will connect with you Next next thursday guys scott will uh, he will not be presenting We'll do a special event with scott. Maybe the following week or at at your discretion scott The reason being is like all next week is going to be the Pro trigger webinar typically we have scott, but the pro trader webinar is going to have a focus on options trading With book map and using book map So, uh, that's what we're going to cover. Uh, and scott, uh, you know, he day trades. He doesn't trade options So, I mean if I trade options, it's more of just visit like, you know directional for longer term trades You know my opinion type of thing. I don't I don't claim to be an expert at all because I'm not in options trading So, yeah, I would not be valuable for those webinars Yeah, yeah, so we'll do a special event with scott. Um, uh, you know Like I said the following week or whenever And then do it then. Uh, so, um, yeah, thanks scott Thank you. We appreciate, uh, you know one winning trade one small loser and then I kind of took it on the chin there I still think that was news and crude, but it is what it is, right? It's like doesn't matter what it was I got stopped out. So if you have an edge, just keep taking the trades make sure you follow your rules And this is the ultimate edge It will make money over the long run, right? Just can't violate your rules as you see or your sizing All right. I will see you guys, uh, not next thursday the following thursday. Yep. Excellent. Thanks scott Thanks. Appreciate it Bruce