 Okay, good afternoon everybody and welcome to the event. This is the Bookmap Academy event and we do these special events every now and then. And we're gonna go over the blue jacket winner and Bookmap Academy member, donkey face. He won it last time. So we're gonna go through his setups and the way he looks at the market. I'm gonna turn it over to Owen in just a second. He will do the introduction. They spent some time together going through the content and what understanding a donkey face is background, et cetera. If you're interested in signing up for the Bookmap blue jacket, you can go to bookmap.com slash blue jacket. It's a competition and it is integrated with the Bookmap Academy and you will be posting now in the Bookmap Academy room. So let's go through some disclosures and a couple of other things. General disclosure, all Bookmap limited materials, information and presentations are for educational purposes only and should not be considered specific investment advice nor recommendations. Risk disclosure, trading futures, equities and digital currencies involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. One more thing, if you are unaware, right now we're having a crypto march madness competition. It is crypto is near all time highs and so we have this competition is free and open to all. You will have to be in the Bookmap Academy. I suggest connecting, joining. There's lots of prizes to win. You can use your phone right here. We'll provide the link for you. It's competition.bookmap.com and you can sign up there and just keep a tab open. And when you see some interesting things you can trade right from that tab and continue on with your futures or your stocks trading. So without further ado though, let's turn it over to Owen. Hi everyone, nice to see you all. I'm very excited about today's event with Donkey Face as Bruce mentioned. He's a winner from last month's Blue Jacket. One of three winners actually, but somebody that stood out with his really in-depth trading tutorials. And so we want to explore that today more. You've probably seen him around in the community but I'm getting to know Donkey better and I want to introduce him to the rest of you as well. And we can explore things like his values, disciplines and one of his main setups. Really interesting stuff. I spoke to him offline yesterday a lot and I'm really excited to see what he shares with us today. He's been trading for a long time. He's a very humble guy. Talks about a lot of different interesting things related to trading and life generally. And so yeah, thank you Donkey for joining us today. Thank you for agreeing to this. How's it going? Yeah, happy to be here. I'm tickled pink that you guys asked me to do this. Just a little donkey with a mic in front of his face. That's a bold move by you guys, but I'm happy to do it and I've enjoyed the time getting to speak with you and Bruce. So I guess we'll just dive in. So if you guys are ready to get started, I will as well. Oh for it. Okay, so a little different. So I'm not gonna actually start with order flow. I wanna emphasize the things that I know make me a profitable trader. For starters, I've made every mistake that anybody could ever dream up. I probably have some record somewhere for the most evals blown. So there's the disclaimer there. But prop firms are such a huge topic right now in trading, that's such a change from when I started about 15 years ago. And through this going from SIM to Prop to Eval, personal accounts, all these things, I think it's very important that anyone who is going down this prop firm route, that they draw the line in the sand. Eval is different than trading. SIM, PA is different from trading. Eval, and then when you're trading your own personal account, you ought to be a totally different guy. That's where the epitome of professionalism should be. And I would say that the interest in props is worth talking about. And that's been the biggest take-home that I've had with all of my failures with it. I totally do not expect myself to trade and Eval the same way I would a personal account. And I'm gonna be more willing to over leverage and do riskier things. Because you can't really make money, but you can lose the hundred bucks or so that you put up. When it gets all the way to my personal account, which is generally my leader account or the main account that I focus on, that's when I put on a different hat and it's all professionalism from there. And anything that I mark up a best practice for me, it has to have been a trade that was taken on a personal account. I'm not interested in marking up any of my SIM or Eval stuff out. Cause I'm just, I'm being a donkey on those, not Mr. Donkey, but like an actual donkey. So that's the first thing I wanted to just kind of like, anybody out there trading prop, just make sure you're not like beating yourself up for foolish behavior on SIM and Eval. But always keep in mind that you should be training to do this for a career if you want to and you get good at what you practice. So at this point in my career, SIM is detrimental. So maybe that would resonate with somebody. And then the very first slide that you see here is the trade plan that I have right now. This is a very alive document for me. I make minor adjustments to this, at least weekly, the wording and the reason it's very interactive and personal for me is that if I just read over it really quickly, it means nothing. If it's in a live document that I have to take care of, I change the colors here and there, I change the wording. And the very top thing on this is a great quote. It says, no work done with impetuosity and excitement was ever well done. And the old proverb, make haste slowly is a good one. And that's from one of my favorite theologians of the past, St. Francis the Sales. The top category that you see here is values. It's not a bunch of rules that most trade plans would have. And I'll zoom through those really quickly. I'm not gonna talk about each one, but the reason they're at the top of my trade plan is because they make following the core disciplines much easier. And anybody who's trying to lose weight or go to the gym or off there or whatever can use this same little mental trick. The reason I follow my core disciplines is because I have trained myself to think of breaking those as telling the people that I love to screw off or my values. I'm saying out loud that my values are not important if I'm not willing to follow the core disciplines below. So that's a little mental trick that I've had to learn along the way. If you just give me a bunch of rules about risk to reward and entry mechanics, I'm not gonna follow it. But I will follow things based on my values. And I think everybody needs to really dive into why they wanna trade. And if it's just about the money, good luck. I know several full-time traders at this point in my career and none of them really do it for the money. The money's great and you can make more trading than anywhere else, maybe not anywhere else, but it's great money. But if your purpose isn't bigger than the money, you're gonna struggle with all of the roller coaster of emotions. So that's my little rant on, this is where I start every day, a thorough dance with my trade plan and the things that you see highlighted, gratitude, self-control, patience, calmness. These things transcend trading. And if trading isn't making you better at those things, then why are you really trading? Nobody's gonna remember you one day because you were a great trader. They'll remember you because they, oh, that guy was grateful all the time or humble. He was a really nice guy. I think all of that transcends trading or any job that you have. And that's kind of where I approach everything when it comes to trading. And if I'm not approaching it from that, I shouldn't be at the computer. So just a quick little rant on the beginning of every day for me. And you can scroll through this. That probably took a little longer than I wanted, but we'll get going quickly here. The main point with the trade plan is everybody should have one. If you don't have one, you're just playing around and having fun and you ought to follow your trade plan. And it shouldn't be copy and paste from somebody else's. It should be alive for you. It should be yours. And you should know it inside and out. So if you're not doing that, you're not really running a business. So the next slide is another, I'll be really quick with this one. So sound performance psychology, one of my has become dear friends of mine, strong had sound trading psychology. And when I was at the deepest, darkest pits of despair in my life, after having some businesses closed down, I lost a ton of money trading. My marriage was falling apart. All of these things were going on down there at the very, very bottom. I found this six for 250 pound guy with a beard. And he was a trauma therapist for about 20 years or more. And he was also a full-time trader. And I was like, finally I can talk to somebody and not have to explain to them anything about trading. And if I could point my finger at one main thing for the health of my life and the success in my trading, would be working with this guy. Not to sound cliche, but I would say he saved my life. And if not a plug, there's no incentive for me to plug him, but it's very important to my life. And this is a main reason why I'm able to do what I do every day. So just a little logo there of his. And then the next slide you can zoom right through. If anybody's interested, I can drop the links for Sean because trading can do a number on you. I know we've all been in dark places trading. And if somebody says they haven't been there, then they're not really a trader and I don't believe them. So there you have it. There's my little rant on psychology. I think it's probably the most important part. Of course, great psychology without an edge means nothing. So here we are on to the schematic of my number one setup. This is called, I call it the ancient exhaustion setup. And I'm not gonna spend a ton of time on this because everything you need is on the schematic if you wanted to try to look for the trade that I look for. The short version of this trade is it requires movement. You wanna see the market moving directionally. That's not when you're taking your trade. That's the setup for the trade if you're looking for an ancient exhaustion. When price finally gets to a level, preferably a big, bright liquidity zone on book map, and starts to give you some sort of price action, you can then start to look for what should be a very low heat, quick, scalpy type trade. So that's the elevator pitch for this setup. If you really wanna dive into this, I'll provide the schematic if I've already posted it up on the Bookmap Academy and maybe even on the book, or the Bluejacket channel. You should be able to understand this after about 30 minutes and then you will need several hours of practicing the entry mechanics. That's the only part that's kind of difficult. If you're trading NASDAQ, I think it's foolish to use market orders. Depending on, for this style, it's definitely foolish. Other people can get away with market orders, I cannot. So if I'm trading NASDAQ, limit orders are a critical part of this trade. So it's all right there. And if you, I have an inverse color on the next slide, it's just because it's principle. I actually made it four-ancient. My buddy who, he was actually a mentee, but I'd say he's more of a mentor now. Dear, dear friend of mine, but I made the inverse color so he could print it without ruining his printer. So then the next slide is, I'm a one-trick donkey. I focus on one trade. I try to master every nuance. And then along the way, my analysis, my hindsight analysis is always, how could I have entered better? How could I have avoided this loser? All the nuances revolving around one very, very specific trade. I have learned hundreds of setups over the years and traded every market you could dream up from Borax, the crypto, to agricultural commodities. I've traded it all. Penny stocks and options and I've done all sorts of trading. And that's great to know all sorts of different ways to make money, but it wasn't making me money. So I really laser focused on one style of trade. And this really, really interesting thing emerged is that now I can see the market very clearly and can sometimes participate in trades that are not this. But when I divert my focus to other types of trades, it all starts to get blurry. And I end up having these too many, if this, then that type of questions. Is it going up or down? Do I need to be long here or short here? This setup cooks in the direction. There's no question about which way I'm trying to take it. It's very easy cognitively for me. I pummeled through that word ironically. But this is my setup. I can share the files for anybody that wanna print it out and you book map really, really makes it easy. If you look, if you scroll back up to the schematic, the black one, if you look at the pink price line, right at the very top. So you have the big green candle and then you have the price line in magenta. I'm not able to easily see that. Assume that this is a five minute chart. The candles are five minutes. I'm not able to see that price line very easily without book map. So I can then zoom in on book map and see this price action inside of the currently forming five minute candle. And that gives me the framework for where to enter and where the take profit will be. And you don't see this on a five minute candle. The setup you see from the five minute chart and then the entry in the mechanics come from a zoomed in view on book map. So I definitely wanna note that and you can scroll back down. So one trick donkey, that's me. And then it's an adorable animal, I agree. Then the next slide, I'm pretty, I'm 99% sure Bruce Lee didn't say this but I fear not the man who has practiced 10,000 kicks once but I fear the man who has practiced one kick 10,000 times. I kind of fall into that category and thank God that Bruce Lee affirms me in that regard. With that said, I do know someone who is also in the book map academy that trades between 10 and 15 setups. Does it every day and makes money every day. I've seen it live. It's your one and only crash F16. He can trade a million different types of setup and he knows what he's doing every time. It's no wonder that he was a fighter pilot. I'm more like the guy on the big plane that just presses one button. That's good for me. So with that said, here's kind of the nitty gritty of where my setup emerged from. This is called an overlap ruler that my really dear friend, Ancet and I made. Well, he made it and it was my idea but he made it. So what you can see here, if you really zoom in, you don't have to zoom in. I'll just tell you what it says is that this is measuring the percentage of overlap of two adjacent candles. So how much is this candle overlapped by the very next candle? And I capped it off at 100% and then I can measure a certain time period and over and over and over. This is really zoomed in, this is a 900 tick. Over and over and over again, the number is above 60%. On really, really good days, it's above for my type of trade, it's above 70%. So even zoomed in and sometimes a 90 tick chart or 900 tick chart is like 10 seconds on the NASDAQ. Five seconds, 30 seconds, it's a very fast chart. And if you go down to the next one, you can see the same approximately 64% number on the five minute chart. So we go from 10 seconds to five minutes and the same number of about 64% shows up. And then if you scroll down again to the 30 minute, I have one measurement of the entire session and the number is about 62%. And then I have one measurement of the last 14 bars and it's 64%. So why is that relevant? Well, if you reference the schematic above, you now understand why this setup exists. And I need, often I'll wait for a 30 minute candle to close so that it sets up the stops and targets of my next trade. And I'm always looking, if it's a big full body green candle, I'm looking for say 12 to 30 points against that green candle on the next candle. So that's the premise behind my setup. My biggest nightmare in trading is taking heat. I don't really care how many points I make. I care if I took heat or not. And this is a setup that shows up over and over and over even more in a high VIX environment. Please God, give us a high VIX environment again. In other words, I need volatility. The more volatility in range, the more money I will make, but I'm always taking the same amount of heat. And it shows up every 10 minutes, every 30 minutes. It's a really predictable, it occurs often. Now, if you have lofty goals and 100 pointers, this is not the trade for you. This is a scalpy counter candle trade. Now there is a continuation trade that emerges from that, but so that's the premise of why this trade exists. And if you go to the next trade, this is just a quick view of what I look at on my, one of my big screens. This is a two-minute chart of the NASDAQ. It's got, I've got the S&P at the top, Apple. And then I've got all of my levels will be marked on this, but you can kind of see the structure that I would be looking for from a two-minute chart. Trendline breaks, wave symmetry, and then that yellow line, that yellow dash line is the 50% of a closed 30-minute candle that I put in a yellow box. So you can see this overlap. So the 30-minute candle closes and then you've got about a 20 point move back up to its 50%. And then the continuation would be off of that 50% to continue with the change in trend, which was down. So that's quickly the example of an overlap trade right there on a two-minute chart. And then at the very, very bottom of that chart, if you zoom in, you can see there's two indicators. The one that says donkey volume oscillator is something that I came up with on my own. It's based on total volume percentage increase and decrease. It kind of works like a MACD, but I find it to be much more accurate because it's volume derived and not price derived. And then the bottom is a classic stochastics with some add-ons that I coated into it. And in general, I'm looking to ride a trade from the red to the green or from the green to the red, those circles at the bottom. That kind of gives me the time that I want to be long. If I bought in the green circle, I want to stay long until the red circle. So it's a one half cycle on stochastics type trade. And I was doing that long before book map and then finding book map with how I use that stochastics, which stochastics doesn't really work too great anymore, but the idea behind it going from overbought to oversold and vice versa is how I view the sub chart. So you can keep scrolling through. And this is probably top five most important things you could steal for your trading. Notice there's a blank column that says book map levels. Every day before I take a trade, I fill this out. It's your traditional open high, low close, RTH and ETH. I'm very focused on two minute opening range of London open, two minute closing range of the London close and the two minute New York open range. So that's the purple boxes and the orange box. And then everything else on the chart is from the worksheet that you see to the left, all of those open, high, low, close type levels. And then the middle column that doesn't have anything filled in will be filled out every day from the two charts below. I find this to be such a game changer for me if you go to the next slide. So this is the most basic simple anybody can use book map like this and get value from it. Every day before I take a trade, I take this very zoomed out view of book map. And if there's a yellow circle, it's plotted on my trading view chart. Now I get it that could change throughout the day but I want to know what it is before I take a trade, you know, what set up the day. So I'm doing this normally 30 minutes before market opens. So each one of these yellow circles would make it into the worksheet above. And all of that fancy stuff that I can talk about with my setup is totally out the window if it doesn't happen at one of these levels. It doesn't matter how many times I see it set up if it doesn't set up at a level, I'm not interested. But even still with the NASDAQ, it happens, you know, sometimes 20 to 30 times a day. So that's great. And then you'll another image of the same thing on the next slide, I believe levels are probably, okay, levels are probably the most important component. None of this matters if it's not happening at a level. And then this is just a quick look at how I would approach overbought and oversold on stochastics that set the framework for how I'm using book maps sub chart, which is the next section of this. So it's been about 25 minutes. I've got two slides in here that talk about book maps definition for volume pressure imbalance, which I rely on heavily. I don't need to go through that book map provides that information, we can drop a link. I don't really think you need to know what it is to use it, but there it is. And then price change is the next slide. I rely on price change as well. And then it finally gets into the book map posts. This next slide, I can take a pause real quick. It's been about 25-ish minutes. Does anybody have any questions? Is Owen or Dan or Bruce, do you guys have any comments or wanna slow me down? You can. Looking good, I think. I don't have any questions right now. Maybe towards then we can open it up to the public. And now Bruce, do you have any questions? No, no, I mean, he's explaining it quite well. I have no questions at all. Okay, great, good. Well, just interrupt me if you want any more details, I can do it. On this chart, this is a five minute candles or the candles that are the overlay candles. This was from yesterday. And you can see a really good idea that would match the schematic above. So from the hard left of the chart to about the middle of the chart, we can all clearly see a consolidation period. Now, that doesn't really tell me anything unless it's at a level. Well, we had a level that 18-4-80 was on all of my charts as a level. And then you can see some of the, I still have the algo band on this particular image. I have finally made another screen for a TraderMap Pro without that nasty algo band. But you can see that there was some interest on the heat map around this 18-4-80 level kind of as the ceiling and the floor of that was kind of 10 points below that. So what I'm observing on the sub chart is price change and VPI or Delta percentage kind of banging their head on the wall. Every time price tried to go above 18-4-80-ish, those would max out and it would roll over. And then of course, everybody can see the yellow circle on the bright red heat map level. That's the target. And I know that's the target before I find a trade. I get three red circles on the sub chart. So that's Delta percentage and price change, banging their head on the wall on the ceiling three times without price going up. So in a way that sets up a little divergence. Price change and volume pressure were in quotes, maxing out and price wasn't moving. Great, now I can look for my trade. So after you see the divergence, price makes a very, very minor high for this part of the session. And then it drops about 10 points. That's perfect for me. Now I'm gonna drop a limit order somewhere in between that drop, a cell limit and hope to get filled. Well, in this case, I got filled, I can't remember the exact number and I'm targeting that liquidity level. The first barrier will be that white trend line that's going down on price. I gotta see it break below that enthusiastically preferably. So once it starts going my way, take no heat on this trade, it's awesome. Then now it's trying to milk it for as much as I can get. And one way to do that, and I can think, crash for this as well, is how I'm using the sub chart and how that overlays with how I used stochastics I truthfully don't really use stochastics anymore. It stopped working about four years ago. I don't know why, maybe I stopped working, who knows. But I wanna try to ride price from during the time period from that red circle to the big yellow circle. And that'll generally give you between 10 and 30 points depending on the market conditions of the day. And the other thing that I noticed was this, I guess it's a spoof on the heat map. You have this somewhat bright band down there at about 18, 440, and then it stopped and I put a yellow box. Now, I don't know how to interpret that. I don't know if that means it's gonna continue lower, but anytime I have confusion that's a reason for me to exit. I've already made some points, put the money in the bank, move on and look for another setup. But the premise would be to ride price from one extreme to the other from end quotes overbought to oversold in this case. And it really provides a nice speedometer for the time period that you can, in real time, hold your trade. Now, I wouldn't expect anybody to top ticket and bottom ticket, but it gives you the window of where you can capture some points. So this move, very conservatively, this move is about a 40 point drop. I'm really only interested in about 10 to 15 points of that. And the very top and the very bottom are for other people, that's not for me. Now, I guess I have developed a knack for because of the limit order strategy on the entry. I sure do have a lot of trades where I don't take more than two points of heat and that's amazing. Like that's my favorite thing in the world. Even if I only make five points, if I don't take more than two points of heat in the first 20 seconds, I've done something well. Okay, so that's a quick view of overbought to oversold type of concept that you can do on the sub chart. I add a zero line on the sub chart, the white dash line to kind of give me my zones of bullish versus bearish. Now, another really interesting point about the sub chart is the cyan and magenta line is CVD. So that's gonna be a slower moving line. And then price change is the fastest moving line. And the volume pressure index is typically right in between those. So price change can tell me to get ready for a VPI type trade. And if it's gonna be a bigger trade, maybe I'll have CVD turn my way. And I'll get more points out of it as I get the confluence of all three speeds of sub chart lines. So that's another way I use it. And then the next chart is just a two minute chart of all of that book map stuff. So all that stuff you saw on book map was happened inside of that yellow circle. So you can see that that's kind of an extended move down. Clearly the trend is down, but it would still meet the criteria that I'm looking for. Now, on that trade, if you're looking at a two minute chart, you can look at that as a continuation trade. So I have a continuation trade on a two minute chart. And then I have my bread and butter ancient exhaustion on the much more zoomed in book map chart. Now I had some other levels marked. So I knew I needed to keep that one on a tight leash. So any reason to exit once it goes my way is great. And then that's kind of all the new stuff that I had. And then the rest of the slides on this presentation are from previous posts that some people have probably already seen. And this does get a little repetitive, kind of by design. I'm looking for the same criteria every day. And if it's not repetitive and somewhat boring, then I'm doing something wrong. So this slide is actually, I actually like the colors of this one. So you can see we get, the first thing that we need is movement or enthusiasm. And then you all of a sudden start to see some at a level. You know, we have, that was either a mid price or the orange line at the top was a pretty good level to trade off of. And then I get the price action. You can see a rising wedge. Some people would call this a Wycoff top or a complex head and shoulder. There's all sorts of things you can call it. But the criteria that need to be met for me are enthusiasm, which you can see it has clearly had a big move. Then we get exhaustion at a level. And then the failure part of my criteria is somewhat discretionary, but I need to see attempts to continue the trend that get hit with a hammer. It is really useful to see really big volume dots at a level, but price isn't continuing. That tells me that, you know, either they're changing hands, that there's something going on, but they're failing to continue higher. And then if you glance at the sub chart, you can see the quote unquote overbought section of the sub chart in the red circle. And I have what I would call a little rising wedge. It's kind of sloppy. So all I have to do now is find a good entry. And then the goal would be to ride the sub chart from the top to the bottom, which is exactly what I did on this trade. So that's, I could say it a million different times in a million different ways, but this is what I'm looking for every single day. I miss trades pretty often because I demand that I use limit orders. And I leave a ton of points on the table because a lot of these can often turn into actual reversals. And on the NASDAQ that could be 60, 70, 80 points. And I would be lying if I said it didn't bother me when one went 60 points and I only got 13. It bothers me a little, but that's not my game. My game is leverage up as much as I can, try to have no heat and try to be out of the market within between three and five minutes. So that's what I do. And then the next slide, I think we just have more examples of the same thing. So this is that same trade on my Ninja Trader chart. And I don't think a book map presentation is necessarily the platform to really dive into my, I call it proprietary indicator, me and Anchit made it. Anchit's a brilliant coder, but Donkey Delta is my version of book maps VPI. It's a representation of Delta percentage. And I'm very, it has a lot of sentimental value for me because we developed it ourselves. And I've looked at it for much longer than I've looked at book map. And it's so nice to see book map and my version of book maps VPI overlap. And they tell the same story so often. It looks different visually, but they're telling the same story so often. So you can see on this Ninja Trader chart where that last slide came from. So we had a rising wedge into a level. I find a good limit order to get in and I get 13 points. Now I think what's really interesting about this chart is that 20 candles to the right, there was another rising wedge into my level and it would have given me 30 points with no heat. And then all the way to the, well, right in the middle of the chart, I missed along. So you can see three really, really good trades in a very, very short window. And I only was able to get in one of them. And that's one of the negative things about demanding to use limit orders. So this isn't all perfect, no system will be. But I prefer the negatives of this system relative. I'm not a, I can't be a low win rate guy. It doesn't suit me at all. I went in, I went out and I want it to work every time. It won't work every time, but that's what I want. The next slide is just another, this is where I believe I'm headed with VPI and donkey Delta, which is again, Delta percentage done my way. Donkey Delta here shows really, it does a really nice job of showing the trend direction in that green box. And then it gives you a really nice entry. The bulls, the buying is clearly strong. And then it dips negative for just a short spot. And then that matches price action. You have a beautiful bull flag here that I'm typically kind of scared to enter because it's not necessarily an ancient exhaustion setup. But I know that going forward, NASDAQ follows through so well that if I can develop ways to use the tools that I use to find maybe two out of 10 of my trades could be continuation instead of reversal. I don't wanna do more than that cause it might fog up the windows. But I think this is one way and I'm certain that this is possible on the sub chart to find these types of continuations. First of all, you need price action. And then I already know that there's ways to participate in this on the sub chart. So that's just a little humble brag there cause I love how my donkey Delta looks and that's what's up on my screen beneath book map. And then there's a few more examples of these ancient exhaustion trades, rising wedge at a level. The criticism of this trade was that yes, I had movement but if you look at how it moved it was a very slow, the inclination of the move up was not very steep. So that's not enthusiasm. That's not gonna, for me, that shouldn't interest me but I justified this one. Thankfully it worked but I would rather see more of a parabolic move to set up my trade than this slow grindy thing. I feel like the slow grindy thing has been the death of many of my eval accounts. If I get caught in some sort of slow grind up I'll just try to short it over and over and over and it never works. That's why the criteria of enthusiasm exists. It's like, it's not, even if it's moving up if it's not doing it enthusiastically you should either be long with it or not interested. And I wouldn't believe a trader if they told me they had never tried to short a market that grinded up all day multiple times. I think we've all done that. So some of these criteria exist so that I don't get caught in slow grinds up or down. And then one more trade, there's a few more slides I think. Now this is the perfect example of enthusiasm. We have on the left marked enthusiasm one, you see this giant parabolic impulse move drop. Great, now I'm interested. And then we get this falling wedge price action. That's perfect for me. This is the easiest kind of trade for me to participate in. And then right there on the, you can see on my little drawing wave, I believe it's wave five to six in the falling wedge. That's the sign of strength that I need to know where to put my limit order. I'm gonna put it right in the middle of the bottom of five and the top of six. And then hopefully I don't have to bite my finger and I was longer than 15 seconds after I get filled. If I get filled, and in this case, I maybe took three or four points of heat for maybe 10 to 15 seconds. And then it just launched my way and the question becomes, where's the logical place to get out? And for me, a very logical place to get out is always at the 50%, which is that middle yellow dash line. I have four marked on that. That's the 50% retrace of that candle. And that's great. Now, the criticism of this trade is that I did not allow the sub chart to make a trip from the bottom to the top. It turns out that if I get filled, it turns out that if I had waited for this to complete the trip from the bottom to the top, there was another 50 points in this trade. So, maybe in the future for me, I'll try to leave a runner for that. But I'm pretty happy with anything over 12 and a half points on any trade. And then finally, we have another one from February 29th. And here we are again, same criteria. We get the enthusiasm, the impulse move up, and then we get some price action that I can identify as failure. Some people would see this as a tilted head and shoulders. And then the, so I have three, two boxes that say three, right? The second box that says three with the final push up that fails, the impulse move down from the top of that to the neckline of the head and shoulders tells me where to put my limit order. And I'm going to put it right at the 50% of that. And that's how I'm getting into these trades where I'm not taking much heat. Now on this one, I didn't take the points and it came back and tested my entry. And then I bailed and the next time I was considerably in profit. So it's only almost 10 points. And I do believe this dropped significantly after this. But anytime I take heat or my entry gets scared, I will, as a best practice for me, take whatever it gives me after that. So if donkey takes heat, donkey's looking to scalp it even less than 12 points. Like just get green and let me get out of this. I did something wrong. So I think this is a really good example of a trade that I would have thought would have given me 40 points. And then I was really upset that I didn't take the 12 points and then somewhat happy that I got 10 points out of it. So that roller coaster that you experience in what was less than two minutes is why the very first slide that we talked about today is the most important slide to remain present and patient and mindful. Else you'll do so much crazy stuff because of the emotional roller coaster that can happen to you in less than two minutes. So I spend the better part of my day doing things so that I can be calm on this roller coaster and not to get away from the technique. The technique is irrelevant if I can't be mindful and calm. It doesn't mean I have to feel good, but I have to be present, calm, composed, grateful. All of these things are the... You need to flood the system with all of those happy emotions or I should say useful emotions. Otherwise the panicky anger will have you exiting this at the wrong place or entering it at the wrong place or chasing or all of these things where all of this brilliant technical stuff that you can learn means nothing. You can't access it if you're angry or panicky or fearful. So all of the cool stuff we can learn on book map or anything, whether it's trading or not is not accessible in real time unless you are able to be present and to be present and mindful during a crazy trading session which is every day if you trade requires a lot of practice away from the charts, meditation, prayer, you better have your finances in order, you need your version of not needing the money to be a good trader. Hopefully your girlfriend's not mad at you or your dog's sick. You wanna clean up everything away from the charts because if it's messy away from the charts, it will likely show up on your P&L. And then all of a sudden if your life is messy then your brilliance that you should have at the chart is gonna be messy too. So that would be a little pro tip there. Clean up your life before you try to be a professional trader and practice all of the mindfulness stuff. I spend way more time now. I didn't my entire career. I spend way more time now doing things to prepare myself mentally to trade than I do spend actually trading. And I bet you could put a pin on the calendar as that being a very substantial moment in my career when I went from being capable of making a lot of money to actually doing it consistently. So we're 50 minutes in. I feel like I've talked the entire time. Hopefully it's been somewhat enjoyable. There's a few more examples of these trades. I think there's three more slides that we don't really need to go over. They're always the same thing. But if there's any questions or Bruce or Owen or Dan or anybody, I would love to hear from you guys in this. And thank you for having me. Traders love to talk about trading. So I appreciate the platform. Thank you, Donky. I think you made me realize I need to call my girlfriend after this event. And fortunately I don't have a dog but I think before I put my next trade on, I'm gonna try to get my life in order. I'll send you the therapy invoice after this. Yeah, yeah, well, I'll definitely need to, you just said I need to make sure I don't need the money. But now I definitely need the money before I put the next trade on. A few questions I have for you and I'll bring them up as you were speaking every once in a while. You could do on a roll. I'm just curious as well, by the way, everybody else if you have questions, write them in YouTube comments or here in the discord and we'll try to get to them. Let's take this opportunity to rob the donkey. But I have some questions in terms of, you mentioned limit orders. You only use limit orders. Could you explain why? Yeah, that's a great question. So again, this is very specific to NASDAQ. I don't think you really need to use limit orders on ES or RTY, which are the other two vehicles that I trade. I focus mainly on NASDAQ thanks to Crash F-16. He got me on NASDAQ back in November or December several months ago. And it's been so great. It's like an old glove. I used to trade NASDAQ exclusively, but got away from it. I fell in love with ES for some reason, but the limit orders very specifically on NASDAQ for me emerged from Mr. Gary Norden. I purchased his class and one of the slides from his class explained the edge that you give away by using a market order instead of a limit order. Now he's trading strictly off the dom, but you're essentially giving away the first 30 seconds or so of your trade. If you just click in, especially on the NASDAQ, in general on the NASDAQ, you could, I actually have hotkeys on Ninja set up for this. When I click the button to short, it puts the limit order eight points above where I click the button. And then I'll drag it where I want it. And so often where I want to market in, I could have at least gotten between three and nine points better just by market in in quotes, not actually market in, but instead of marketing in, you have the limit order three to nine points above. If you can over time capture between three and nine more points on every trade that you're right about, that's much less heat and that's a lot more money. But the importance of limit orders emerged from me going through Gary Norden's amazing class. Now I have not completed the class. I kind of took some key points that I could implement right away. And the downside to using limit orders is that you miss some moves. But it's more important to me to not take heat and get filled at the levels I have and they emerge real time than to just get in. I don't need to be in. I get to do this every day. I don't need every single trade. But I want every trade that my limit order gets filled on. So that's where the limit orders came from. Now that said, I don't really think it's all that important on ES and RTY. On NASDAQ, I think you're given three points away if you're not limit ordering in. And it doesn't have to be sitting there all the time. Like you can kind of see based on what I just spoke about, I get the push that I need and then I know where it is. And that happens in 20 or 30 seconds that I'm identifying where I want my limit order. It's not sitting there at a level waiting. It's where I put my limit order emerges from the price action in a very small timeframe. So my experience is that most people who are using limit orders in the retail world are doing order block type trading. That's not at all what this is. Not that that's bad or good. That doesn't matter to me. But I'm not just, I don't just have a limit order sitting there waiting all day to get filled. It's, and perhaps the biggest benefit of using limit orders is I can change my mind without losing money. So instead of being in the market, changing my mind and losing two points, I'm just not filled yet and I can cancel it. So a lot of the money that I quote unquote make or a lot of the money that I don't lose is because I'll cancel my limit order. Maybe I identify too much strength or I see the heat map stacking or I'm not sure which coach it was that said, you'll see the heat, they're bullying price up. Well, I don't wanna go short against them bullying price up but that happens very real time. And if I'm in the trade already, I'm losing points on that. If I've got a limit order, eight points above where I want it to be in, now I can just cancel it. No harm done. So I think that's a, I think that answers the question. Definitely does. I like that quote, it seems that trading sometimes is about money you don't lose as much as money that you make. So using limit orders in a small way definitely makes a lot of sense. Another question that I have when we spoke offline, we didn't go down this path in the conversation this time but when we spoke offline previously, as we saw you've got a few of your own proprietary indicators that you've worked on with your friend and we spoke about how you've been trading for a long time, you've done a lot of trading and back testing and development of these indicators and how you would like look at trades and plot it out on paper and it's very visceral and you're kind of sitting through these trades almost in real time, even if it's a back test or a hypothetical trade. So do you think there's some value in pen and paper, like really, really feeling through the trade and the drawdown, how long it's taking rather than just in the modern day, you've by thong scraped, you can just run a back test, you've got the output in five seconds where you haven't really lived and you haven't had the blood and tears and sweat that it takes to actually take those trades. Do you think there's value in this sort of manual back testing? So, Owen, what an amazing question that is. So I can tell you, so this overlap concept, it emerged from my distaste for being right and price moving against me a little bit along the way. I don't like it. Like, if I'm right, just go straight up. Well, that's not how the market works. In a perfect world, when you're right, you get full body candles and there's no overlap at all. Those are really, and you can just candle trail all the way to infinity. That'd be wonderful, but it doesn't happen. So the frustration of experiencing the little bitty, ebbs and flows of it, especially when it's ebbing against you instead of flowing for you, it dawned on me along the years of trading that, well, somebody had to have taken the opposite position else I wouldn't be taking price action against me at this point in the trade. So somebody's making money on that, whether it's an algo or I don't care who it is. BlackRock, it doesn't matter to me who it is. Somebody took the opposite position or exited a position, something happened. And so I started hand drawing the overlap. I had legal pads, stacks of legal pads with percentage overlap, I was manually doing it with a calculator, trying to be as accurate as I could. And I had volumes and volumes of this. And this was before I knew anything about coding. I probably could have made it then. But so what I started to notice was it didn't matter which timeframe I picked until I was outside of the daily chart. The overlap doesn't happen nearly as much on a weekly or a monthly candle, one candle to the next candle. But inside of a daily, almost every candle has price action from its next candle that overlapped. And if it's gonna show up that much, and I think the actual number that I have every time I measure it is over 70% of the time, the current candle will be overlapped by about 60% of the next candle. Okay, well, I saw this over and over and over again. And then I started, I used to have a knack for not taking heat using stochastics. That was maybe four years ago. But over the last several, maybe two to three years, it's like no matter what I did, I was taking heat. And so I really went even deeper with the overlap idea for entries. If I wanted to get long, I was gonna wait for the current candle to close and then put my limit order at the 50% of that candle to try to get a slightly better entry. And then that emerged into, well, if this happens on every timeframe, and I have a 40 or 70.30 minute candle, well, then I've got a really nice runway to go against that candle on a two minute chart. And that's enough points for me and it's fast and it's predictable because 70% of the time, it will be overlapped by 60%. Well, if you have a 30 minute 80 point candle, that could give you 40 points. And it's sort of off topic, but my buddy Crash F16, he's got this system I snipe and it's basically finding the same snipes that I find. So I mean, there's other ways to skin the cat. This way just speaks to me because like you said, I hashed it out on pen and paper or legal pads for months and months and months of collecting data on overlap. So is there value in that? Well, I can't speak to the other side of not doing it, but when you put that much sweat into something, you're likely to take ownership of it. And I think it's the taking ownership of it that bears fruit. I've mentored a few traders here and there over the years and it's very sad for me to see a trader who's struggling, trying to do exactly what someone else told them to do. It's like, listen, you can learn somebody else's trade, but you gotta take ownership of it. And if that means drawing it on posty notes and napkins for five years, do it. Because until it's your trade, good luck. You're just like everybody else. So maybe that's a long-winded answer, but yeah, I think there is value in doing the manual labor instead of just making a quick bot and check GPT. Yeah, now I see why they call you donkey, right? You do the work, you do the hard labor. I earned the other stuff. Like I said at the very beginning of this, there's no mistake that a trader has made that I haven't made. And there's probably a lot that I have made that traders didn't even know you could do. So I have made every single mistake and somewhat jokingly, I have probably blown more evals than you could dream up, but it's always, every time I go to an eval, it's because I'm done with my personal account. So it's, you know, I always kind of keep things in order. I know I'm gonna act like a jackass if I'm on sim or eval, so I don't really care. Yeah, perfect. I'm not seeing any questions, Bruce. You see any questions coming in from the community? I feel like if not, they're missing good opportunity to ask somebody who's been through a lot of stuff. Yeah, no, I don't see any other questions at the moment either. See what prop firms you recommend, Donky. Okay, that's a good question. So Apex is the biggest and the baddest. The guys at Trade Day, they're from the UK, they are the best kind of humans in the world and I would highly recommend them. You know, you can dive into all the rules, but unless you're looking for props in Forex, I think all of the futures props are pretty legitimate. You can't even get into that game without being legitimate. There is, he's actually a buddy of mine. His name is Leon Grimm. He just started, he's an excellent trader. He just started Phoenix Trader funding and it's awesome. And he is amazing and they're very new. And I think there could be advantage to joining a new one. So I would recommend Phoenix Trader funding. And he's such a cool guy. So I would love to throw his name out there if I could. But yeah, so, you know, there's, let me emphasize, there is danger in simulating an eval. There's a lot of benefit from it, but you can develop a lot of, I won't use the actual word, but you can use a lot of screw it type mentality. You just don't care. There's no skin in the game. So I'll just fire this trade-off. And, you know, I had to come up with a trick, like I'm allowed to act like an idiot on sim and eval. I am not allowed to act like an idiot on my personal account or the PAs that are doing quite well. You know, but my best behavior always comes on my personal account. Preferably my best behavior would come on sim, eval, PA and personal, but I'm too much of a, I don't have that endurance to be that well behaved across all of them. So I save all of my very best behavior for my personal account. So, you know, that's an interesting thing. But Bruce, you were about, I interrupted you, my apologies. Oh no, not at all. I had a question on the limit orders. I really like this idea. So you find your entry and you're like, yep, there it is. All right, now I'm gonna do limit order with an offset. Eight or nine ticks or so. And you're waiting for it just to come back and fill you. At that point though, do you ever chase? Because maybe it has pulled back some, maybe five or six ticks, but not a full eight or nine. So that's a great question. So it's, yes, I will chase it. I consider that not best practices. The best practice is to just let it go. But I will chase if I chase it a little bit. So say my offset is three points. So 12 ticks, or even more, say 20 ticks. If it gets really close to filling me and then doesn't, I'll give it a couple more moments and then drag it a little closer. If I get filled, let me word this very precisely. If I get filled in a way that wasn't best practice, then the recipe after that is to take anything that it gives me right away. So if I chase, I'm not allowed to sit there and watch it. I have to take four points, five points, whatever it gives me and on the NASDAQ, that can be 10 seconds or 20 seconds sometimes. But unless it's the order, unless it's the spot that I originally wanted in at, I'm not allowed to sit through a pullback. Interesting, all right. So that sounds actually more like kind of psychological. This is what I do then. Yes, yes. Yeah, interesting. And I think a lot of times some of my quote unquote psychological tricks, eventually I'll study it enough and find out why it worked. And I think there's a time component that's very hard to, everybody can look at volume and price. Well, the other third thing that's real is time. And that's the nuanced part of it, where say you're in a continuation pattern, a bull flag, and it's kind of going your way, but it's not. It's like, well, at what point is this taking too long and you should stop believing in it? I really do think there's a time component, especially for my setup. And one of the things that has emerged is if I don't get filled where I wanted, it's probably, say it was a short, I'm trying to get filled on a short. It doesn't come all the way back up to fill me. One narrative can be that it's just trapping more sellers before it goes up. So it's staying at a lower price to set up the move long. And now all of a sudden I'm not interested. Now I'm against the masses. So sometimes not getting filled will have me switch the narrative, like, oh, it's gathering up people to sell it to after they take it long. So the time component is very important. It's not uncommon for me to have a limit order sitting there. And if it sits there more than 20 seconds, I'll just cancel it, which is again, another iteration of a trick that I learned from the Norden method, from Gary Norden. Who's a million times smarter than me, by the way. I love it. I love this overlapping and entry on the pullbacks. Just great stuff, because you're right. I mean, it always does seem to kind of come back a couple of times. You know, the Holy Grail is when it comes back and all of a sudden the heat map lights up for you. Like, that's the best. If I have a limit order sitting there and I can see on book map that the heat map is also heating up right where I want back in, it's like, okay, somebody else wants to do this too. To me is kind of the narrative. So that's kind of the Holy Grail, which means, which does mean that I need to actually learn how to do my executions on book map. So I have to actually have to climb that mountain at some point, because I get so much value out of where to place limit orders from what I'm seeing on book map. It's a little harder for me to see where to place them on my ninja screen than it is to see where to place them on book map. So I do this little, it's kind of clunky, but I'm pretty fast at it. Thank God that you guys made the crosshairs that put the number on the side. So I can use my cursor on book map and see the exact price I want, and then I'll drag my orders on ninja to that. You know, often I'll have my, I'll often have my limit order somewhere out in the ether and then drag it down when I'm ready as part of the mechanics for it. I'm generally using hotkeys as well. So I go between the mouse and the hotkeys, but yeah, again, thank you for the question. Anything else? I figured you'd have a lot of questions for me, but I kept talking, so. No, I mean, yeah, we can help you with that with the trading functionality because I think you would like, we have an offset feature on limits. So just input, you know, how many ticks you want and just whenever your trade is set up, just, you know, hit limit, limit buy on, you know, best offer or limit sell on a best bid and it'll offset it. And then you can drag it around if you like as well. Perfect. Yeah, for sure the functionality is there. I just gave it a very short window to solve the mystery and I didn't. I'll get there. I do think it's important. You know, it's tough to take a trader that's been using a platform for executions for, I don't know, 12 years, eight years to switch, you know, I know all of the stupid things that could happen on Ninja that are my mistake or somebody else's. So it's a little frightening to switch off of that but, you know, if there's value there, I'll do it and I'm certain there is value. You know, Gary, not to bring up Gary Norton's name a million times, but he loves trading on the DOM and recommends BookMap's DOM. So a guy like that's not going to just say that lightly. And, you know, so there you have it. I'm certain all of the functionality is there. Yeah, yeah, no, we'll schedule some time at donkey and definitely connect. Yes, this is being recorded, Rob, no problem there. Good, good, good, good. Well, you know, I don't, I could talk about the intangibles and the meta part of this ad nauseam and, you know, the main thing for anybody who's not where they want to be that I would emphasize is it's great to learn everything but along the way you need to be making it yours, somehow and if you don't make it yours, you won't be able to problem solve real time and trying really, really hard at trading and not having success can bring you to a really, really dark place. So, you know, the quickest way there is often to lean into the things that aren't comfortable. Everybody wants a system. Everybody wants a perfect system that they can just follow perfectly. And I might have found a guy that has a system that does that because I've seen it real time but in general, perfect systems don't work and the people that would be teaching you a perfect system wouldn't be teaching it to you if it did. Yeah, that's hard medicine to swallow but you know, I mean, I think it's the truth it just, you have to embrace it on your own and make own it, make it your own. And once you do that, you really understand what you're doing. And especially for, well, I think this applies to every trader except for the few anomalies here and there, focusing, there's so much value on focusing on just one setup. You actually get better at all of the other setups by just isolating and focusing on one. You can start to frame the bigger moves off of this one idea and it really simplifies the cognitive strain on that. And you know, I'll talk until you turn my mic off about how important it is to make sure that trading, if you really love trading, if you can't wait to trade, I'm not very optimistic. Like you need to have things in your life that are more important to you than trading so that you behave when you trade. It can't be an obsession, otherwise it's just like any other thing that could be bad for you. You know, I've mentored, let's say five guys, maybe it's more than that, but let's say five. And of the five, the one who is the most exuberant and gonna work the hardest, kind of like me is the one who has struggled the most. The other ones have their values in order and I had a mentor once tell me that there's a lot of things interesting in trading, be very careful what you get interested in. And I think that's a really great quote to take to it. Check yourself, if the most exciting thing you have to look forward to is trading on Monday, we really need to do an analysis of our habits away from the charts. And in that same vein, I told Owen off line, I actually scaled down on Mondays. Like over the years, I found out that Monday was my worst day. Well, why? Because I was so excited to trade on Monday that I don't behave as well. And I may be forced trades and take trades I don't want. Well, Friday, alternatively, is my best day trading for my career. Well, I don't even really wanna trade on Fridays. I'm tired, I'm sick of sitting at the chair. It's like, you know, I wanna go drink a beer or something. So I just handle business on Friday and then I leave. So, you know, all these old cliches we hear about trading, less is more, it's true. It's true, less is more. At some point in your career, you will realize that less is more. So, you can take the soapbox from me anytime. No, I mean, I would love to keep going. Maybe we'll do another one with you. I mean, there's just like, just a lot of wisdom here. And I should get this down. Not everybody loves psychology, but a full-time trading psychologist is the guy that you would wanna talk to. You could do a special event with Sean with sound performance psychology. Like it is incredible. It's like, I swear this guy was watching me for five years before he talked to me. He knew exactly everything I was doing without me ever telling him. It was just amazing. And, you know, I've got a giant heart for the guy because he helped me out of a really rough time in my life. So. Yeah, I mean, it would be great to get him. So, well, let's do this. Well, we'll wrap it up and let's try to get Sean or maybe a conversation with you and Sean and how you guys work together. That would be pretty amazing. Yeah, I would be willing to do that for sure. Okay. I won't tell all the dirty details, but I'm pretty open about everything I've experienced. And, you know, I think it's, I think there's fruit in being vulnerable. So. Okay, we'll make it PG though. Yes, of course. Yeah, we won't go crazy. All right. Excellent, excellent. Well, yeah. Thank you very much, Donky Vase. Owen, any last words with Donky? Yeah, just a huge thank you. That was amazing. So many nuggets of wisdom, as Bruce said. The recording will be available later so we can go back and rewatch it if we need. Thank you, Donky, again, taking the time out. That was fantastic. Let's stay in touch. Maybe let's do some more events in the future. Yeah, I appreciate you guys. And the final plug that I will give is, you know, I didn't know all of the ins and outs of the Bookmap Academy and the Blue Jacket Competition. And if you're a real trader out there in the universe, it's a very lonely game and Eric Canby. And I have, I've gotten so much fruit, even non-trading related with the interaction on the Bookmap Academy and the format of it. Everybody's so helpful and there's clearly some very talented traders. I don't know how you guys find all of the talented traders and put them in one place, but I've learned so much from Shark and from Slowdown and especially from Crash, that guy basically helped my hand for a week. And it's, there's so many Jacks thing, the last special event. I mean, it's so good. There's so much talent. And I would encourage everybody to be more vulnerable because that's the realest part of trading is what it does to our emotions. Forget the pocket book. It's what it does to our emotions. You know, it's a hard game and never forget that if you're trying to be a trader, you pick the hardest damn thing you could have picked. All right, we'll go ahead. Go ahead. A good place and the hardest damn thing you could have picked. Thank you, Panky. And thank you, Bruce. I'll let you close it, Bruce. Thank you for presenting both of you and thank you everybody for joining. Great, yeah, thank you as well. All right, take care, everyone. Good night.