 Good morning traders and welcome to the bookmap live trade trading webinar today with Scott Balsini a futures trader This will be live trading. This is a part of our education It is in demo paper trading mode and strictly for this will be live trading This is a part of our education and strictly for educational purposes The reason that we offer this here so that you can learn and put together the pieces We have an educational course on order flow. We have live forward-looking analysis So you can apply what you've learned and then you also have These live trading webinars Alright, so I guys know who Scott is and then he also also offers some educational and mentorship services I'll be putting these into the chat so you can reach out to him. He does have a trading room educational course He's got a lot of stuff in here. Alright, so anyway, you can find out more information With the links that I'll be pasting in the chat got to go through the risk disclosures And then we'll just turn it right over to Scott 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 the risk disclosure trading futures equities and Digital currencies involved substantial risk of loss and is not suitable for all investors an investor could potentially lose all or More than the initial investment Risk capital is money that can be lost without jeopardizing one's financial security nor lifestyle Only risk capital should be used for trading and only only those with sufficient risk capital should consider trading Past performance is not necessarily indicative of future results. All right Scott. Are you here? If so, let's I see you in here Let's remember. Yes, if you want to start streaming and we'll kick it off here Yeah, there you are All right, we're all set. How are you not bad watching these markets go ballistic So First and foremost, obviously, this is a very bullish market right now after the CPI number You can see this is a obviously a major gap up here so gaps We draw these important zones what important things happen of the four important areas of charting which are tops and bottoms of balance areas top-to-bottoms I vibe knows I don't usually draw the zones because it's just a journal area and then buying and selling tails directional conviction those are the areas that I try to Incorporate in here and you really want to pay attention when the market returns to those areas so you can see here This is one of those areas Mutes I can always hear everyone coming in the room and I can't Yeah, I could show you where that setting is if you want But maybe So it knows down it's down at the very bottom and then settings area Okay, and then go to You know hold on on the left side It's Notifications down near the bottom kind of close to the bottom there There you go, and then scroll down Okay, and then basically all of those that are checked like just deselect them Yeah, all these yeah, yeah, I mean basically Yeah, all of them Viewer join you mean you missed a few already viewer leave invited to speak. Yeah And this is just for your for the book map server. This is for you for yours. This is your Setting Right, but there's no way to do it just for like for instance. I want it from my trade room. I Just don't want to hear as people come into this room particular room to the web. It's it's it's per I guess it's the settings in general so You would see that in your room, and or you would not hear them now in your room So like I was saying this is a very important area and this is even more important when you get Straight directional moves in new important areas many times. They'll fail Much higher percentage of a failure than if you just say we built balance below the zone for a day or two And then moved into the zone. Well at that point you're standing in front of Loaded up traders that are you know what balance areas are obviously traders placing bets So the traders that are short once you start moving out of that balance area are gonna be puking and that's not such a great area this Type of move into this type of area where you can see so much has happened in this area We had a gap down this day as directional connection. We had a selling tail huge directional conviction We had a gap down this day another we opened up here directional conviction and then another Selling tail the other day when the Fed came out. So this is a really really important area I would short this in a heartbeat Aggressively on a setup which is up here. The only worry I have is I don't like shorting I try not to short when these the internals when this ADD is above 2,000 Doesn't mean you can't have pullbacks, but they're usually very shallow and then it just continues it up So So you can see obviously we're at 2,500 which is very extreme the tick rating is can't even get near zero for today You know, we're just kind of hanging at a thousand. So this is definitely not a market that is Conducing to shorting But you know, we could have a pullback here. So I'm gonna let this this volume setup basically Tell me if this is worth a short so you can see here This bias came in up here was about ATR right now, so I use the ATR to judge the current volatility. It's up to it's 11.74 which is extreme We're gonna put this in the spreadsheet here and we'll see exactly where these So first and foremost, we want to know the levels of the zone. So I rejuvenate zone. That's the spike right here 1950 and 1775 earn ATR This is obviously changing but This area So that we go down to the position trading. So I know right now in ATR below this zone just basic You know, we're using this spreadsheet For another trade we're doing in the room. It's more than I will trade It's a more of a scalp short-term type trading But this tells me when you get it one ATR below that zone, which would be 06 So what I look for in my trades if I'm entering conservatively, which I want to do here I normally would enter this trade aggressively meaning the minute this breaks an ATR below the zone. I'm in but Because it's such a bullish market right now. I was still shorted Reluctantly, but I'm gonna wait for a retest of this area and then failure. I may not get it And that's fine. I don't want to be aggressive in this situation. I know this sounds very important You know, we talk about all the time in my trade room and we talked about in here, too You know, everything is usually not lined up perfectly for trading. So when you put trades on so you know Imagine one of these old-time scales and you You factor in all the bullish factors and the bearish factors, right? We've already talked about the bullish factors ADD is ridiculous. Tech can't get below zero You know, fundamentally obviously we had that number that was bullish Um, the other thing I look at too is This is Al-Gogai reason we named it Al-Gogai. This is an exponential moving average Short-term is the long term is the red. So many others are based on this too And you many many times when this this thing will trend and it'll just keep testing the bread in the blue And do one of these so this is also very very bullish So there's that's another check on the on the scale All right Lost my scale, but you know what I mean and then but bearish we're into that we're into that very important zone Straight move into it like I showed you guys and then also the other really important thing that I use that is Most powerful thing I've seen next to the book mat SI indicator are the level of levels So you can see here where we're right at the red lug major resistance point In this market we got that and then you got the bottom of this prior market profile composite balance from Not too long ago. So you can see the market This is merged if I had merged as you can see them whatever day this was struggled up here last time as well Right so you can see it struggled a couple times Right struggled here struggled here. Here. We are again. So there's when we go back to the scale We've got oh, you know, it's pretty much even here. So, you know I'm okay shortings what I'm saying, but I want to be I want to be conservative with this short I may miss this and that's fine. You know, you got it. You just got to accept it meaning Again, I'm waiting for a retest of this area than a failure and then I'll go short And then you also got some skip spot camera levels here, too. So there's this could get real choppy up here is what I'm saying but I'm under no illusions that this thing's in a pullback very far. So we'll be you know, if I end up getting short here I'm gonna be eyeballing these levels. So you got baby lug here. These are just minor lugs That she has on here You know, I don't usually peel out of positions unless they're confluent with another area meaning This will be 82 I don't know if this universal cursor is not working on my thing But let's just see what this prior marker profile. Yeah, so it's not really confluent with much Merges back here. So anyway, I would not get out of here. I'm just you know Once if I do put this short on I'm trying to figure out where I'll be getting out, right? I mean, this is pretty far away, but the ATR is very elevated. So anyway, I do get short This is probably the first area. I'll be peeling out of some. So this is directionally yellow. This is prior red VWAP And that would also be Probably be right around here. So it's pretty close to this point in control of this marker profile composite So say I put on this basically tells me what I could put on too So if I have I can only put on two contracts So I'll definitely get out a half at that area if I end up getting short But a lot has to happen before that can occur You know, I'm waiting for a retest of this volume setup But something else can come in here and then we'll have to reevaluate but Right now I'm waiting for one of these and I'll short it. That's that So once again, this is on the bearer side This is an important area that we move right into that this could fail again. It's failed so many times already, right? So You know in different market circumstances meaning if the ADD wasn't so elevated the tick wasn't so extreme I would have shorter that right off the bat right on like I said earlier, but you know, I'm gonna wait for a retest I may not get it and I'm fine with it Okay, I'll still complain. Don't get me wrong and NAS back You have a little bit of a setup up here. I think it was 60 so 150 is my threshold of Nasdaq and Then back back to yes, so, you know, we have different markets I know I always have a lot of new traders on here different markets have different thresholds meaning, you know 150 in the ass means nothing. It's it's worth trading in Nasdaq, right? So, you know, you have to know your markets thresholds that are meaningful a lot of times people get this SI indicator They don't really know what they're looking at and they're just trading spikes on this and you know They're you're just asking for whipsaw city if you're just trading every spike on the sSI indicator. So you're trying to trying to filter Looking for the bigger sizes and that's where the most concentrated volume has become volume events and that's what the market reacts to So that's what we're trying to gauge and then, you know, watching thousands of these over the last three plus years You know, I've determined how what what is the norm for all these markets react at these areas? And that's that's what I trade off of right and then when you combine real-time volume with the ATR In important levels that is a major edge and that is my edge in trading, right? So I have rules based around that edge that I trade off of simple Not easy trading is not easy, especially lately. It's been a hardest could be especially with these zero date till expiration We'll get into that a little bit You got these options players these the big money now is are buying these short-dated options like literally zero days to expiration And it's forcing these dealers that are on the other side of the trade to hedge their futures with it And it's just it's just been ma'am in here And if you guys file spotgaming talks about it all the time, he's actually coming out with an indicator I just emailed the other day because I wanted to know told me a couple weeks ago They're coming out with it that's going to help judge that that kind of activity I think that would be very very helpful So we'll see on that in the meantime. I'm using you know, I'm still keeping an eye on this hero We'll check these markets now. So the black is the actual market These are just the ETFs and then obviously the SPX is the cash market SPY QQQ item WM are just the ETFs for the futures or for the indices so anyway Now much here what you want to see are big divergences So you can see that options complex is starting to move a little lower many times like the market will screw around and that will follow So this is just another Talked about the scale, right? So if we start seeing some divergences as just another addition of the scale This is not a red light green light indicator. We talk about it all the time We want to you want to keep an eye on it And it'll serve you well if you're on the right side of of these divergences, right overall You can see and look at SPX. This is starting to really Run away from this market price. This is another factor on the bearish side where this market could pull back And I'm keeping an eye on this too. I don't want to miss this retest failure. So And then SPY same thing so these look bearish right again This is not a red light green light where I'm just going to throw in a seller I just have this in the back of my mind that gives me more confidence to trade the short up here You know again, I didn't go short aggressively, but I'm definitely I'm okay with going short on a retest failure Like I've said 10 times again, if it doesn't retest then I'm out of luck, but there's another setup right around the corner Any questions on any of that first I mean you can find it go to my website. I tell you guys it's a week, but Go on here. I just saw recently. So this is the hero indicator that we're just looking at You get one week for free when you try it, but if you add in this code you get an extra week To try it out and then this is you know all the stuff that I use and Stand behind obviously book map apex training. We can talk about that later. They're fun traders Obviously it's about gamma hero tic strike. I'm speaking tic strike. Let's get a little Otherwise known as waterboarding I'd make fun of it. I mean it's a must for me, but it just really grates on your psyche Excuse me when I talk about it all the time you have a position on and it's moving Against you and you have to watch it and then you get to hear it too. So this is but you know This is crucial to know what's going on You want to know what's going on in that stocks that compose the indices that compute compose the futures And then also I have the futures here and then the vex and then I have these independent So it's like if I'm not looking like right now I have this turned up You may have said some person again this turned down too much, but you know if I'm not steering a crude I know hey, there's an heavy buying coming on crude You know this is aside from my SI indicator alerts that will fire off I just know that stuff is firing off and then obviously trigger sync to talk about you need something like this to keep track Your trades this is the stuff here This is for my other You can see a last night and up to yesterday But Monday was a blood bath in my in my limit just been tough trading lately, you know And I tell my room all the time these are markets you got if you have a trade plan you're gonna have drawdowns You're gonna have just markets just are strange. Sometimes they don't follow the norm, right? So the norm has been not been playing out lately, but you know talk about all the time with the Casino analogy casinos get beat down You know on single days, but they know over the long run they have an edge that'll make money over the year's time It's the same with trading we talk about this every webinar, right? It's so important because You know you trade in a vacuum and it feels like every loser is the end of the world and the thing your system doesn't work And so on and so forth and you start trying to tweak it and try to find the holy grail And you're trying to find another indicator You know if you are if you know you have an edge and this is the ultimate edge using this volume In in areas that you may be important wherever whatever it is if you're using this volume Correctly these volume events correctly you have an edge, right? So it's like you just keep putting on the trades you monitor your risk loss for the day like Monday I hit my limit. I actually had a PM webinar I couldn't put on any more position trades because I hit my limit for the day doesn't have a very often I think I've hit my limit three times in the last three years But you've got to know when to shut it off when things just aren't making sense. There's always another day Don't kill your Going to that rant today. All right, so this is starting to come back here. This is the norm, right? This is what happens You know again, this is from my experience my studies of watching these things 80% of the time these markets will come back and retest the area, right? So that's what I was waiting for especially being conservative. So if this comes back now Retest here will check your ATR to make sure Our price is still right and then it fails again I'm gonna short this market if this comes up to here and goes right through it And gets an ATR above this volume event then that short idea is done And I wait for my next setup. I cannot go long off of this volume event because this is already My rule is if the market is able to push away more than an ATR ATR or more the other the other direction of the trade is disqualified, right? So this was able to push ATR was 11 this obviously got more than 11 points away from this at the bottom of this zone Then my long is disqualified for this particular setup, right? Doesn't mean I can't go long on a new setup But for this setup it's disqualified because the market should not be able to push away If it's truly bullish right now here and now it shouldn't be it shouldn't be pushing away more than an ATR away from this Volume event it should hold and keep going All right, so I didn't hear if you said something earlier Bruce I think I had you turn down if there's any questions so far on any of the stuff I was talking about No, I think um You've been answering the questions in here About the short and and I've been answering other questions So I think you're good And the other thing you want to keep an eye on It's relative volume so you can see here after the number obviously elevated So, you know buyers are obviously in control and you can just imagine No I always get a kick out of when people say there's more buyers than sellers There's never more buyers than sellers and every more sellers and buyers there's bigger Aggressors right who's being more aggressive meaning who's taking the bids who's taking the offers But there's they're camping more buyers than more sellers overall Or the market would just gap right So the point is there were sellers here, but they were obviously passive sellers And they obviously the number came out and when you see this relative volume That means a lot of volumes coming through. Yeah, they're buying but someone's on the other side Absorbing those orders and guess what? They thought hey, maybe this is going to pull back and this they got run over here and they just kept getting run over. So now You know, you're probably gonna start seeing some stop runs so on and so forth overall. So The point is when you see this this is kind of just like an sci-admin This is an iceberg, right now. Obviously, this is a huge area But the point is especially like the biggest bars Just imagine that this is you that got run over and this move up Well, you and you have some risk tolerance and you're like, okay, and it's going further against you like, oh my god I gotta get out of this. This is used to be me. This is why I know this This is the pattern, right? Like it keeps moving against you and you're like, please just come back to my area I promise I'll I'll get out and you come back to this area and you peel out. That's why many times When you get something like this if you're patient and you wait for a return in the area Those are some of the best trades and that's kind of what the retest failure is based off of, right? So this is exactly what we're doing here And then I miss this I didn't quite get up there. So You know, I need to see within 10% of an ATR to retest of the zone meaning And it's all on the spreadsheet as well. So the spreadsheet is Proprietary to my trade room. So please don't email me asking for it. Did you join my trade room? You get the spreadsheet Right now 11.06. So everything's in here that I need So I know a retest of that zone. I know 10% of an ATR below that zone Based on my other strategy or you can just see these prices. So the bottom of that zone would be my exit price So, I mean the further 10% of an ATR So I need to see that market for an official retest of that zone this this market needed to get up to 16 Let's say 1650 around now, right? Did it get up to 1650? And I got real close. It was one take away. So I you know, I gotta make a decision here to I want to It was with literally within one tick of retesting According to my retest rules, right? So again, I 10% of an ATR would be ATR is 11 So you're talking a point 1.1 points. So that got within 1.1 points of the zone or within one tick of that So that would be my official retest So I've got to decide now, okay, am I going to forego the one tick and get in this trade? So if I do short this now, let's just look at the price. I would short If I'm considering that a retest, which I will Even though it was one take away and then if it rips against me, I can complain and say I shouldn't have put the trade on I could short it 05 0.58 so I'm gonna round down on this 05 50 is where I could short based on my risk I have to risk 26 es points. Again, this does not matter, right? You guys I'm not gonna try my best not to go down rabbit holes today. It does not matter how much you are risking You need to adjust your size. You cannot have static risks I can't tell you how many people traders that I've mentored That email me that say I like your system. I just don't want to risk this amount of points I like to risk five points when I trade the yes Guys, please I'm telling you the market does not care what you want to risk in your trading It does care about volume events and volatility, right? So all we're doing is adjusting to this current volatility Meaning I can only put on 2.3 contracts So if I want I could round up a round down we'll say I'll put on 3 here if this fails I'll round up, right? But based on its volatility I could put on 3. So say the ATR was at 3 Right, okay. Well now I can trade 7 and I'm only risking 8 points. It's still the same amount of money Right. Do you see this? This is what is important. You cannot trade static You can't trade static amount or static You can but you know if you want to risk five points. Well, that's great when the ATR is five or less But when the ATR is 20 or you're going to put on trade just risking five points It's like that's nonsensical. Just think about it that does the market cares about volume events and volatility So if you take anything from these webinars, it's learned to adjust your size based on the volatility And the size of the zones 11.06 and that's what this is telling me when we put these own zone prices in All right, so anyway, I can short this that So I'll just put on two just because I'm very wary of the short I know we came up with the scale, but again, this thing can't even you know, you can come up with rule This is all all the stuff. I'm showing you it doesn't mean you incorporate every single thing into your trading Right, you pick and choose. Hey, I think that's really important. Hey, you know what? I don't that doesn't make sense to me I don't I don't I don't believe in that or whatever You know, I'm not saying everything that I'm showing you you need to be doing But you know, you need to be paying attention to stuff like this where you say, okay, you know I like Scott short area But my rule is I don't short unless this tick can show it because at least start getting under the zero line Let alone, you know, you usually want if you want you think there's going to be a bigger short move This thing should be hitting 500 to 1000 ticks 500 to 1000 ticks. This can't even get below zero That just means the overall stocks are on up tick non-stop So do you really think there's going to be a big move down as of right now? No, this can change obviously But my point is you can say, hey, you know what? This is a great area Scott I like what you're saying here, but I'm not shorting until this thing could show it can it can break that zero line And that's fine. And that's the same with this like I usually have my rules Where in normal circumstances where if this add is above 2000, which that's a trend up type of day Meaning add is advanced decline meaning more stocks are advancing than declining in the whole stock universe, right? It's very simple simplistic, but if this is above 2000, I usually will not take short This is a rare exception. Well, I will I'm considering it, but if I lose on it, it's not going to surprise me I have a half. I just missed it as usual That's my own fault. I should have not been sure if and so again that was I consider that a retest was one tick just hoping I should get filled on this just because of the It's so bullish. I should at least pop back here. I'm hoping All right, so I actually got an couple ticks worse. I was just trying to get in that Sure, I was supposed to be in a 550 based on my spreadsheet. I got out of five. All right, so now I'm short You can see it just bounced off this prior stop run to that's not a coincidence either um, so now I need to put my stop in That I'm under no illusions. This is going to be an easy trade, right? Even if this works, this is probably going to be a torture treatment based on what I just showed you with the internals, right? So Uh, I stop out at 31 75 and again It doesn't matter what this this could be a hundred points You just change your size and if you get under normal contracts and you go to the micros There's nothing wrong with trading micros right So that is uh, 3175 is where I will stop out of that trade So now what would be ideal? It already looks like this is happening. Yeah, it's kind of if I get a new setup To say something comes in here and it already looks like it's close to threshold or it's trying to get to threshold I get a new setup. I can then trail my stop ATR above the most recent setup So this is a way that you can catch a trending market many times As it moves lower and you get new setups you add to the trade and then Exactly what we wanted right so i'm short now here's a new setup. I'm gonna get rid of this No, because we have something happening right here anyway And the sullies So again, there's another misconception is oh, here's sullies. I need to get short No, I mean Overall paper is obviously right more than the wrong paper meaning the big money because they're the big money You'll be you'd be right all the time or a lot majority of the time too if you can push the market around right? So, yeah, you want to pay attention to what's going on here like for instance yesterday um There was yesterday morning There was like 2,000 sullies in aztec. There was like 1,300 was one spike and I said this is the most I've ever seen In a market did sell off from that point right so Yeah, it is important But it's not end all be all meaning you just don't throw in shorts when you see sell ice We have specific setups in them. This market has to react to this area the right way for me to want to short it You know and add to the short that is but it's not just you see sell ice and you sell right? That's that's a misconception as well. It's out there It's from the stone so again what we've moved to and I didn't You know it only took me three years to figure this out and then some of my room helped me with this That's one great thing about a trading community as you guys see with the book map to score two You know you find out things that you didn't even know about so I I knew this last price line was On here, but when I first started trading with book map, it was really annoying to me And I'm like I'm gonna take that off So if you go to configure visible components, it's this last price line Right and I had it off and I was just trading off of the bubbles right because it just really annoyed me But what this shows you is The last price that was traded so it really helps in drawing your zones because I was drawing through the bubbles And it's actually not the bubbles the middle of the bubble which is hard to judge So what I do now is I just slide this down to see the price line that I can get the exact price Of the zone and then I trade I mean I mark the zone based on the spike right so you can see I started spiking over here And this is one house too. There's another incredible thing about book map They can tell you if it's one entity or not right, so See that was the high of that spike And low came all the way down to here So it came down to here that it came back up here and that's where this dissipated up here But this price got all the way down to here during this spike. So that's how you want you want to incorporate that in your zone Then I try to be consistent just so I know what type of iceberg it is So I use black for my cell ice and then you got your hockey's too. So if you guys quickly, you know, again Took me three years to figure this stuff out because birds never helped me on it It's kidding. Um, you come over here. Okay. I remember now. What is it? inverse settings Keep more shortcuts there Okay, yeah, so you go here and then go down to tool bar Then drawing tools Then you can use these hockey's for edit because you always got to go into edit mode And then I use the shift h for horizontal and you can draw you can put whatever you want for all these right all All this is are these options here when you come down in here So you can do it up here by hand or you can have the hockey's As you guys have watched in my hundreds of webinars. I was doing it by hand and I'll go back to soybeans by the way And I know it's annoying to watch but That's all I knew at the time. All right, so I'm going to do the same thing with this zone. I would add to this trade I will add to this trade based on this new setup, but I need to see at our retest failure So we'll put the the zone in here. It's going to help me determine where my new stop is too So top of the zone was 725 the bottom was 525 ATR again, this is just a five minute wilders default at r14 period Default at r and thinkorswim. You can put this on. I'm sure I don't have an insulator, but you can put it on an insulator It is right there 10.89 Meaning the five minute rotations are about close to 11 points, right? This is my point, right? You're going to be risking three to five points and when the rotations are 10 You're going to lose you're going to end up losing money overall if you have static stops I'm just Please again, there's anything you take from this webinar. It's stop using static stops use your stop space and volume events All right, so we have that we have that in there an ATR So this is based on the new zone My exit would be my stop would be now at 1890. So we'll say 19 so Getting that is just outside an 810 percent of an ATR from this top of this zone, right? So now I can take this All the way up here and bring it down to 19 What I will do here, let's see It starts me to see this zone Colorblind, so it's Kind of blending in here. Let's say All right, so you can see this stop is right at the top of that zone If I put it at night at 19 where it should be I'm right in the middle of that prior ice So I don't like to stop out in the middle of the zone. So I'll move it a little higher We'll just I'll risk one extra point. So we'll put it just outside that zone So now for me to be For this trade not to work It has to not only get through this volume event And it's got to get a full ATR More than an ATR outside of this volume event and it has to go through this prior event where There are trap traders as well. So if they can do all that then I say, you know, congratulations You win bulls on the next trade In the meantime now I'm looking at potentially add to this short So where would we do that? Well, it tells you everything here. So first of all, I need to see 100 at least an ATR below this zone To validate this as a short set that I'm going to wait for the retest and failure just like I did here Who could and there are times that I do this we've already talked about this like 10 times in this webinar I could just enter aggressively in the minute this gets outside an ATR here If this is just not the right environment for me to be aggressive on my short So I'm going to wait for that like I waited for that right So now my prices are You know, again, I use this this other strategy we're using and it helps me figure out the prices So I know one ATR away from that zone is 94 3 quarters, right? So until this gets 94 3 to 94 3 quarters It's not a full ATR and I'm not I'm not going to take the short if this goes to 94 3 quarters Retest fail Then I'll get in and that price is on here And I short it at 93 75 Right, so that's just outside the ATR. And this is the exact ATR From that bottom of that zone and then this is where I would enter which is 100 percent of an ATR because I want to enter I want I want this market to prove it can push outside of an ATR because you have these algos And when it gets an ATR it snaps it back to the volume of it, right? So if it does that when it comes back again, I want to make sure I want to see it can push more than an ATR outside of it Then I'm beating those algos that love to snap it back. Then I know it's okay to short Hopefully that makes sense So we want I mean this is not coincidental guys like look at that Hey, what was that price? Oh, it was 94 50. We said 94 75 Maybe that was 94 25 either way. It was two tech two techs below the ATR And here you go with the algos that come in and they snap it back to the volume of that Right, that's what's happening right here right now So that's what I wanted to see now if we go here here here I short at 93 75 I got to wait for the retest of that zone. We'll do the same thing. We did the first time What would be the retest price? That would be The exit on this again, don't be confused by this you're probably confused But I can tell the price is based on this other strategy we're using My exit price would be 040. So 040 will say 040 Because that's I know that's 10 percent of an ATR below that zone Which would be right here right ATR is about 10 something that would be a little more than a point Which would be 040 so if this touches 040 that is an official and so it beats ice for it's official retest of this zone Which remember up here was within one tick and then I'll sure I'll add to it. I should say any questions on that Bruce? All right. Hey, well the wow look at that tick tick got down to Wapping minus 400 there that that's the put that's Positive it's not positive. It's positive for the for the short So that's what I wanted to see you know To give this some hope that this thing can actually start to sell off a little bit If not, this is just going to be a short-lived short-lived move down and we're going to repire right so Meaning the stocks are agreeing. They're starting to down take a little bit. Now. There's nothing extreme there Right. I'm under on no illusions here, but I was able to control my risk here So if this does rip all the way back now, I'm going to take a small loss and move on to the next trade If this failed now here's your retest. Well, that's surprising. I never see that pattern. Do we? Said in my studies 80 percent of the time So now if this fails back out of here I'm going to add to this trade and I put my stop in the same spot that this stop is in for my original trade So what do we say 375? That's 110 percent of an atr outside of the bottom of that so Let's just make sure we got you got to stay on top of this atr. It's up to actually bring one now I'll change my entry on this There's now 92 81 so Around down to 9875. So that's 110 percent of an atr I like to get outside that atr again because I'm fighting these algos that like to snap the market back right, so This is a good example. You get short here, right? You're like, oh, yeah, I like that. I'm gonna get short I'm gonna risk. I'm gonna risk my standard five points. Well, you're out of the trade Market doesn't care about five points. It cares about the current atr Which is close to 12 now, right? So you're gonna see rotations that are more most likely going to be right around 12 points So why would you use a five three point stop that you always use regardless of the volatility? How I keep harping on that but it's just so I can't tell you how many traders do that and you guys No matter what you're doing, you just have to step back and think wait What are the percentages 95 percent of traders fail? Well, why do you think they fail because they do stuff like that? So I'm trying to show you guys how to think differently To make money in this business and do this for a living If you keep doing these silly things like trailing the other thing is the trailing the stops, right? Like I trail my stop based on a volume event. I didn't trail my stop because You know, it's close to Christmas and I want to buy my kid the gi joe with the kung fu grip, right? movie v bruce Oh god, I don't know I'm seriously hanging up this webinar if you don't know this First of all, I've quoted the movie about 400 times in his webinar. Then it's got to be catty shack It's always catty shackering the godfather trading places Oh, yeah, that's right. Yeah, I remember that. Yeah explain trading to him and then then he was like trading And then he then he was that he was explaining to the mortemers why he wanted to be by the why the traders were in panic because they were Parkbellers losing money because they couldn't go out and buy their kids the gi joe with the kung fu grip You have to watch the movie, but it's hysterical. What's even more hysterical is I'll bet 80% of the people on this webinar Don't even know what a gi joe is Because that's just showing our age, but Okay, I digress, but it's just pathetic. You don't know that I'm gonna start having like rules where you have I'm not doing webinars like every every week I'm going to give you a movie to watch and I'm not doing the webinar until you watch the movie Oh god, I've seen I've seen the movie. I don't know how many times I just didn't remember the line That's the one of the funniest lines I forgot I even said that but Anyway, I'm waiting for this to fail. So remember now if this gets an atr above this zone Then my shore is disqualified. I'm pretty much stopped out. Anyway, it's just below that But then I'm not going to add to the short right I can't go long this setup though because why because we got already got the atr below there, right? So all I'm playing here is short or bust Dirt or I'm stopping out of the straight And again, it's not going to surprise me one bit. This comes back, but I'll take a small loss and then I move on I'm fighting some serious factors here on the on the short side like we talked about This is You know, this keeps this is elbow guy again So another perk of my room when you come in there you get my I share my Workspace for Sierra charts for thinkorswim. So you get this exact Medicare right so Many times and again, I learned this from this is you know again with the community, right? So I was doing I was mentoring a guy this is a couple years ago when he was Alert, he used this in his training. This is his main His main Thing he traded with and he wanted to learn how to use the si indicator information with this, right? So before I get into this, that's what I'm trying to show you guys, right? So I don't care what you're using if you find relevance in it, right? Everybody has something they like and I don't care what it is a moving average cross Bollinger bands RSI Whatever it doesn't matter if you liken and believe in it That's fine, but I'm telling you you're going to make it legitimate When you have the volume events at your areas and you understand how to play the volume events Other than that, you're just hoping areas whole. Yeah, you're still there's still hope in trading Like when you put on a trade, you don't know what's going to happen But I do know I have an extreme edge by applying these setups at important areas, right? So my important areas Are First and foremost, let's see if this red lug held. I think it did This is one of my important areas You see it all the first time here. We're going for another test, but this held Here got a little bit above held again. Here we go again So if I get volume events at important areas, I know how important these are on their own And then I get the volume event real time volume showing me that they're important That that is an extreme edge, right? So I don't care what you're using volume profile market profile. Here we go again It's trying to get in here again. You can just be just say you're using market profile. Great You're even better when you use the volume events at these areas, right? So this is another test of this Um I was gonna show you guys the trading this is directly we're doing this This is actually where we came up with the new trade that we're doing in my room You know, I've had I have about 30 in my head that I've that I want to test We're doing one at a time, right? And we're doing this at our trade in my room right now, but This is straight out of the book I objectively identify my edges. How do I identify my edges? SI indicator volume areas and setups. That is my number one edge for trading I do not trade at lugs at any no matter how I know these lugs are powerful But I still won't put on trades unless I see a volume event. That is my book map SI indicator That is my number one Thing that I use that's why it's number one. I pre-define my risk in every trade So for me, it's just outside of an atr for both entries and stops. This is everything I've been telling you guys today I completely accept the risk or I'm willing to let go of the trading Trading the correct size to risk one and a half two percent of my account size That's what this is Right there Showing me that's how much I can trade if I want to risk two percent of the account size, which is that amount Right based on the volatility. That's all we've been talking about I act on my edges without reservation or hesitation So you see I get a volume event like and this may stop out and I definitely was very wary of shorting it But I took the short right because I got what I wanted to see You do it over a series of trades if the edge is legitimate You will make money. You don't one time say, ah, this one doesn't feel good. Ah, this one does You'll drive yourself crazy and you'll be inconsistent. So I take it I'm like I've been saying this entire webinar. I full well know how bullish these markets are right now But the volume event was telling me I had a shot at it. It did work for a small time a short period Now this looks like this is going to rip higher. I'm going to take a small loss and move on Right, but I keep taking the trade. So if this moves higher now This stops me out and we move up here and I get another volume event I'll been into the exact same thing. That is how you make money trading. It's a percentage gain, which you're going to read here I act on my edges up without reservation hesitation I pay myself as the market makes money available to me. So I get out like we were talking about that yellow lug V-wap. So what with levels market profile composite highs and lows points of controls Right, this is all stuff that we've already covered today So these are the different areas that I will potentially get out at Right important lugs. So say if I was long, I'd be looking to get out at the red lug This moves down. I said at the time when we were over here. I said I get out of the yellow lug confluent with the web other areas Thompson bottoms a market profile. So if there's sort of come back you guys have seen this in all my webinars It comes back to that area starts to struggle. I'm going to get out of some that's an important area to me Other areas points of controls. That's just the price that traded the most in a market profile composite And then my pre-predefined zones So that's what we were looking at earlier where I was said I when we were doing the scale where I said I want to be potentially shorting this Was a nice reversion trade for my trade room if they took that one And has that so this is an important zone so if I were short like I'm already Short but if I was long Right, I'd be watching this zone if they can't get through it. I'm out. I know this is an important zone from prior events Right, that's where I pay myself when I'm right and or enter trades So all all these things where it says I pay myself. I'm right if I'm right there These are all areas. We're all under the trade as well. These are the areas. I look for the si volume events I continue. I continually modernize susceptibility for making errors and this I do Just like anybody else I probably do more so because it's especially in my webinars and stuff because it's Very hard to be doing. I'm doing two different trades in like 10 different markets on one screen. I make errors non-stop And I also know when I get in these mindsets I have a much more much higher percentage of making these types of errors, right So my susceptibility tire irritable over confident sub part trading days So, you know, this is when you start forcing trades because you got to pay your rent Right, and you know, you just know it's terrible trade, but you have you have to trade This is the stuff that you have to monitor so you don't do it because this is the stuff that kills your accounts Well relative volume we talk about that all the time as well I understand the absolute necessity of these principles of consistent success and therefore I therefore I never violate them You need to create the experience of trading mechanically and respecting the rules and that's why So that, you know, this position trading is that I'm doing so again, we're doing two different types of trades I do two two different types of trades and that's what I show my trader, right This position trading is a little more Completely forgot the word completely blanked on the word That's a lot we'll be going to wait I seriously just completely lost the word What's the opposite of mechanical? Oh subjective there you go. I just completely lost that What is going on in the paint? The number was yesterday. Wow. All right, we'll go there in a second. Um So my position trading is a little more subjective, right meaning There's different areas I'll get out and I got a judge like that like we've been talking about the ADD and I mean Getting in and stuff is fine, but it's more subjective like, okay, we're at the red lug Oh, we got high relative volume. Maybe I'll let it go through things like that The other trade is more mechanical and that's why we started doing it in my room Especially for people the traders that struggle staying in trades, which is probably 95 of you, right? Or getting out too early or getting All the mistakes that you make when you make a mechanical You just put on the trade you have your rules and there you go And that's what that's the other trade that we're doing in my room where you there's almost no subjectiveness in it at all You have your prices you enter them in the spreadsheet, right and in the way you go. So you literally put in the zone You know the prices, you know, if you're doing the two ATR extra as you were doing here's your price Here's your stop. Here's your exit. That's it. And you'll be amazed how you start to condition yourself This is why trading so hard because these algos take over and you get this everybody knows what I'm talking about it's the this is why I gravitated towards Scalping in the first place when I was a huge scalper because I could not mentally handle It's still hard for me to handle it. I'm much better, but it's just very hard But if you are mechanical you can watch that nonsense non-stop Right and you're just like whatever until you can get through, you know until you violate my prices I'm in the trade, right and it's just so much easier on your brain That's that's the key. You've got to make this game easy on your brain or you're never you're never going to make it All right, so this just failed again at this zone The problem here is did this give an ATR above this zone? This zone and then we already see this on the spreadsheet. So that was 7.25 Let's see what that ATR was meaning to add to this trade Just make this is make sure this is correct. That is now 10.67 Isolation of that ATR would have been 18. Did that get up to 18? Sure did. Hey to the tick. Well, that's shocking A couple ticks. So what does that mean? Okay, I'm already in this trade I placed my stops 110 percent of an ATR away So that's why I do that because they market so many times go one ATR from the volume of that That's why I put it so I was at 19 remember, but I put it a little higher to get out of this zone The point is Even if I don't get stopped out of this and it comes back I'm not going to add to this short now Because it got in a full ATR above this zone and in my mind. So this is canceled Not in my mind from my experience if this market is truly bearish I'm going to continue to stay bearish It should not be able to push an ATR above this volume of it the most recent volume of it And that was that right so very likely to stop out of this doesn't surprise me one bit We've talked about this all webinar onto the next straight That's what trading is guys. I just keep telling you the same stuff, but you know one of these days you're gonna learn It's like it's not I stop out of this. Oh my god. This doesn't work. I got I got to find I'm gonna add something to my trade. Um, let me let me let me search twitter and see if there's a new indicator out there It's just I know that I knew going into this there We did this scale that is a very bullish market one two I know these setups work from doing thousands of them I get stopped out out of my next one out of my next one out of my next one most traders have Successful traders. They only have five to ten Huge trading days that make up most of their year the rest of the days or make a little lose a little make a little lose a little So stopped out of that I lost basically half of what I would have lost potentially this keep would have gone higher, but I would have been Probably out on this new setup. Anyway, the point is I was able to trail that stop based on the new event Stopped out on the next one. What's the next one right now? All right, let's get rid of this. Let's draw the new volume of that Any questions on any of those rants? I mean, I've been catching myself from ranting. I keep writing on that rabbit hole I feel myself losing my breath. It's time to stop talking No, I I think your your rants are well appreciated. So I just I keep saying the same stuff every webinar, but I mean it's the most important stuff Yeah, this stuff is extremely important, but if you don't have Your mental state down and your rules and understand trading probabilities It doesn't matter what edge you have. You're never going to follow it correctly You're going to find a way to screw it up. I mean even like even the reversion trade I can't even tell you how many guys in my room were like, well, yeah, I okay. Yeah, I like this I got this winner, but I'm gonna let I let it ride. I'm gonna let this one ride Or yeah, I got out early because it's like, no, that's not what this system is like you Yeah, you could do whatever you want But that's the point like I can show the system to 10 Centrators and 10 trade like five of the 10 will find a way to screw it up Right because they want to add in something else or they think if they do this it's going to be better It's like Come up with your rules and stick with your rules and stop adding things taking things away Stop you quit it because you think it doesn't work for one day So on and so forth. Yeah, if you if you're not sure of an edge Absolutely, you want to go back and back test it and make sure it works so on and so forth But this is why I this is why we do these webinars guys to show you this works these why does it work? This isn't magical. This isn't a magical indicator It's because you get areas of mine events that traders are caught And when it moves away the traders that are on the wrong side, they puke up the position That is the basic basic premise of all this That's not magic. That's common sense Right and it's all based on my these areas are based on these setups are based on my experience as a large trader So I know how I used to react. I know how other traders used to react. That's what this is So, you know, there's no man. I know this is an edge, right? How you employ them is up to you I'm telling you when you're first starting Trade them like I trade them and as you get better at them and you start to see success You may say, hey, you know what? I like this tweak. I want to look at I'm going to add this thing And I'm talking down the road once you start making some money, right? But you're not just giving up on it after a day of losing or think you know what you're doing I showed you guys the email last week and the guy just texted me out of nowhere and discord I thought he was a member of my room. He's like, I don't I'm not making money This SI indicator. It's making it worse for me. I don't I'm like, wait, are you in my room? He was in my room. He was basically just trying to trade these based on his limited Knowledge of what's going on in here, right? So it's like Unless you can watch this is why we're doing the webinars because you're learning from my Experience of trading thousands of these and you can literally just plug and play Into your trading where you don't have to spend three years watching setups, right? That's the whole point so Take this information that I'm giving you and then you can tweak it how you want But this is the This is the ultimate edge right here Right and how you use it is up to you every webinar same thing. This is the science This is the art how you play all right Enough running back to trading 21 75 is the top of the zone You want to spread this out to make sure you get the correct zone You can see this actually started this red line That's the stop and this is by design. I forgot why they said they do this But it starts before the spike so you want this red line. So when you have the SI on chart here Just bring it to less than way less than threshold and you don't want to see too many of us but stops are fine because you're not going to see I'm not going to annoy you. I'm going to on chart here Go to visual settings here So I have mine at 250 you can even make it less I just want to see when this red line because that's going to help me own its owns So 39 20 Is the bottom of the zone the top of the zone is 21 75 So I'm coming here. Just this process all over again 39 25 is the top of the zone 20 is the bottom other important factor ATR It was driving the market. This which drives these algos is the volatility 10.9 Systemally staying right around 11 right now I'm going to do the same exact thing I did last time I'm not going to short this aggressively even though I know this is a decent zone where this could fail again All right, I'm going to wait for ATR retest fail again. Just like I did the first time right So what's the ATR? 3909 Say that we'll round up 39 and a quarter. So this needs to get down to 39 and a quarter or 3909 and a quarter For that to be an official ATR outside of this the bottom of this zone All right, so I'm waiting for 3909 quarter That's what I'm waiting for. Well, if I wanted to be aggressive the minute it gets outside there I can short that I'm not being aggressive for all the reasons we've talked about in this webinar I'm going to wait for the exact same thing I waited for last time. I'll wait for a retest I'll wait for a failure and then I'll give it a shot And like I said on a day like today, you can just say great that area looks great I'm not taking shorts today. And like I said, normally I will not take any shorts if this add is above 2000 It is too. It doesn't mean you can't pull backs, but they're very shallow So it's like, do I really want to fight against the overall market? You can see this thing cannot stay below zero 2500 Nasdaq tick the same thing The short is not a great short, right? I'm willing to take it in this area But I know full well what I'm dealing with so if I'm going to take it I at least have to be conservative in my entry is what I'm saying Once this gets, you know, this can change here in a hurry now If this gets through the zone then it's go time to the upside You know spot gamma has been talking about this. We'll check the hero again too 4000 is the main he said after cpi. It's either 3700 or 4000 Well, this certainly looks like we're going to 4000, right? So once this gets through this important zone, which isn't much higher then there's no more Especially on a day like today. I'm not shorting again. I'm willing to roll the dice in this zone If this gets a little higher and gets through here, then I'm not shorting anymore I was willing in this zone because it's just failed so many times This may be the time and I'm telling you this gets through here. These are the next stops up here Let's check our hero any questions on any of that stuff Bruce No, uh, just some questions on uh more about your strategy And I just put the links into the chat there for everybody on youtube It's already in there on discord. So let me let me check discord any questions No All right, so these are still diverging a little bit um Spy looks like the biggest diverges remember this pink line or whatever color this is purple is the uh, that's the stop that's Well, you can spread it out to puts and calls too. Well, that's not pretty I just have total again. I don't why does that happen? It's not gonna change this um Again, you can go down rabbit hole after rabbit hole with this options and information It's incredible the way he breaks stuff down again when you're you know, when you have a spot gamma He goes over his levels He goes over what if certain areas break what should happen and he's usually spot on right because Again, it's common sense that so many of the traders in in the futures complex are options traders that need to the Dealers that need to hedge their positions with futures, right? So it would prove you to know where these areas are or you may see you're most likely going to see reactions right so This is invaluable and then again, you got to be careful using this hero. It's important and they have it on book map as well um, it's important to know But it's not red light green light. It's all I keep telling you guys, but you know, this continues to stay a little And then what the other thing you want to it's still to stay a little diversion But the other thing you want to pay attention to too when you get these straight line spikes That means it's one big player One big entity buying a boatload of options or some of the boatload of options you want to pay attention to that You can see like that came in and the market did spike But overall these the options are still diverging a little bit. So this could eventually be An okay short we'll see, you know if this fails again All I know is you know if the big money really wants to come in here and buy the big money sees what we're seeing Right, they really first of all the big money over here with sell ice And you see how I didn't just jump in a short just because big money was selling it, right? I needed to see my factor. I didn't see it And I trail my stop based on that and I got and I got I got our stuff down But the point is You know if they really want to push us if they see a thousand buy stops, that's like their green light Okay, let's step on the gas. Why are they not doing that right now? That's another question that you know, we're going to find out But this is all stuff you just keep in the back of your mind when you're you're coming up through theses for the day It's like, okay Yes, this market's extremely bullish, but they've had two different chances up here There was buy ice over here earlier. That's what we took the first short off of And then now another buy stop run. Why are why are they not stepping on the gas up here, right? And so these top selfs. Yes. All right My chirping and I've missed probably There's a ton So usually so the grand number was yesterday, this is just like the foc many times The big money comes in the day after and then they start doing what they need to do based on the information On the number or whatever. So This is huge size for serving. So first of all, you had 400 buy ice close to 500 buy ice. This is 400 buy ice Now you have more buy ice coming in here So I'm diverting to the most recent setup, but I do know Just when looking at this that somebody is buying a lot. Yes, the seller the bubbles are showing you who the aggressor is They're aggressively selling but they're running in the mouthfuls of buy ice, right? So so it's an always instant the reaction here, right? You got to let this kind of sink in because the traders that are selling here, they're not in trouble Right, they're like This market's not free falling when I just sold a thousand contracts or a thousand contracts We're just so they're definitely quest the sellers are definitely questioning what what's going on here I can guarantee you that because if I was selling this I'd be like, hmm Now back in the day, I just sold 2000. Well, the market just moved two ticks. I might be in trouble here Right good. The market's not reacting. Why because you've got these hidden iceberg orders. They're absorbing the selling Again, it does not just not Always automatic where the market is just going to rip away, but you just now you know this area, you know It was already here And then here And then there's more here, right? So now especially for longer-term position trades if this eventually gets above this area this whole area You're gonna bet you're gonna see a move Higher very likely because all these sellers that were aggressive are now offside puke them up right So And then on the flip side guess what paper could be wrong too And that's how we judge the zone based on we draw the zone And if the market keeps moving ATRs outside of the area Paper is in trouble, right and that is an exact setup we use in my room or on my course And in my room it's called broken ice I know it's very high-tech Very intricate wording there Do it for a reason to show you guys simplicity and someone who are supposed to be humorous as well All right, so this is uh Like this actually was this a double whammy. So remember double whammy is Yeah, this is a double whammy. So that's the right color. I like to use dark blue So what was a double whammy well, it's a dumb money puke and I can promise you some of these pukes Well, I shouldn't say promise, but whoever's buying up here is probably puking a little bit here Usually the the pukes are the retail traders though and the the buying you know the buying over here was the big money But anyway, what's happening here is For a double whammy to occur is the dumb money puke. So somebody's puked up to 204 contracts to stop run And they sold it right into more buy eyes, right? so The selling is it wasn't really real here Meaning it wasn't like initiating initiations of positions most likely I know you could stop into positions, but most of the time it's just guys puking out of positions So we know first and foremost first and foremost, we know all the bias that already happened over here Right, it has moved a little lower and now this selling over here was not real selling. It was just guys puking Now there's more bias So that's telling me if this can't do what get at least an atr above here or below here this to me Overall tells me we're going higher today by the end of the day And then it doesn't mean I just jump in along here though, right? I wait for my setups to occur and then I trade them accordingly Now we just have to decide if I'm going to trade this aggressively or conservatively waiting for like we're waiting for yes atr retest failure All right, so I'll come right back to this because it's usually slower mover So this look at that, you know getting right down to the exact atr. You guys believe that It's it's the more you watch and the more you know what you're looking for It's truly amazing how the market gets an atr from the area and then flips back It's it's literally amazing And that's what we're basing this off of right like even the atr strategy we're using it's based on these algos That are 80% or more of the trade so meaning 80% time or more of the overall trade You're gonna get algo trades right If money comes in it disrupts the algos, but No, and I was telling my room yesterday like the trades been very difficult lately With the you know the zero data options trading and everything else Well, I mean that may become the norm I hope not but if you know what this new indicator will be able to read it better But that aside, you know paper will come in or like yesterday I lost I lost a couple of the reversion trades because of news stories, right? You have to accept that's just what's gonna happen, right? You're gonna have that's markets, but overall The overall percentages if you just keep trading that the setups You're going you have the edge you're gonna make money So it's like yeah, it doesn't feel good to lose money because of a ridiculous news story But I know I just keep taking them there. It'll normalize and I'll make money, right? So that's That's what I'm saying here is This is why I force markets to say I didn't want to get aggressive In short aggressively there I make this market get outside the atr because I know you have these algos that snap the thing right back to the volume of it And here you go. We've already seen this twice today just in the yes It's all day every day in all these markets So now here we go for the retest This fails again after the retest then I'll short it again Yeah, I'm not excited about it, but this is my system and I'm going to keep taking it Because the real-time volume is telling me to do it You know, I have a bias I have a thesis that we're going higher, but Then prove it let's see these volume events hold this market and push it higher until then I'll still take shorts in this important zone Like I said before normally with the 80d that high I would not be shorting here, but I will give this a shot until this can prove It can get through the zone that I'm not shorting anymore Take that back if this were to say we did one of these Or say we get through this important zone and we rip up here. Yeah, it's short up here But anywhere in here the shorting is off the table then All right, let's see if this retested this and we already should know the price It should be right around a point. I know that's a retest right there. That's within three ticks So that's an official retest, right So let's get this set up for another short opportunity Just make sure this is correct It's 10.13 now So I can go short based on the current ATR at 390886 I'll round down just to get a little outside that 875. I can put in two and a half. I'll round up to three this time I'm willing to round up to three this time because this is that now twice Two different times to try to rip higher hasn't happened yet So 875 the only thing I don't like about this is I'm shorting right into this prior zone. This was that ice zone but Well, I can't I can't believe that pattern. I never I don't think I've ever seen this So wait, I've seen it about 10 times already this webinar Set up ATR retest It's crazy. It's just the more you watch it I watch You know hundreds in a week and it still amazes me how how many times it happens and that's what the other setup is based on It's pretty incredible All right, so we're watching we were deciding whether we were going to get long soybeans aggressively You know and I know guys you like I don't want to see so I don't trade so I mean It doesn't matter what market you're trading the futures market. You're trading as long as you know the thresholds The markets react the same to volume events because it's trapped traders So you're doing yourself a disservice if you're watching this clown market One market all day long every day and you're trying to force trades when the market sucks so on and so forth You're just doing yourself to service. I understand certain people don't have bandwidth to watch 1015 markets But you certainly can watch two or three where you're just waiting Waiting to hear for volume setups and then you then you'd focus your attention to that market I'm telling you guys. I know You know, we did that I saw members to the survey a couple weeks ago Watch multiple markets and it's like 80 percent of what we're thumbed down thumbs down It's like once again step back and say to yourself. Hey most traders fail Hey, what are the most what are most traders select on that they select? No, they don't trade multiple markets Well, that may tell you something you want to open your horizons and start Watching other markets for other opportunities because the days that these markets suck You can hop over to natural gas. You can hop over to soybeans. Soybeans is like my best product, right? So it's like You're doing yourself with the service is all insane All right, so we're waiting for that. Obviously there was a new setup in soybeans which was Barely threshold was pretty much in the same area as well. Let's see here popped a little above here Just going to widen this zone. I'm straight off of that And that's all this was here I like to normally see over 200 in soybeans But I mean, this is the same area and I just extended the zone a little bit. So first and foremost, let's see Let's look at the bigger picture Again, this doesn't matter what market you're looking at. It's all the same stuff All right, so what do you see here? This is like the flip of BS where I'm waiting for yes to rip through the zone of the upside Well, what this just got through a very important zone on the downside. What was this zone? This was directional conviction this day. This isn't crazy, but it was this was a the market closed here gapped up Came in after the number yesterday. Look at that. It held perfectly This is like a double tail the market basically closed right here. That's why there's a tail tail Obviously the market doesn't know what them wants, right? But it did hold this zone and what just happened now right through it So do I and I know there's bias here, but do I want to And I still will go long, but I wouldn't go long aggressively right because this is through this zone What I should do is short aggressively Outside of this setup, which I'm going to do I already know what we talked about. There was bias. There was bias. There was bias. Well, guess what? The market's not holding and I know we're through that zone the last thing I'm going to check My other important factors where we are as long as I'm not shorting a new or red lug or a blue lug Wood level again. These are What's happens to me? It's So this is this is the issue here, right? I don't short into Major lugs until they break or if I see extreme high relative volume Till we talked about the scale. What's the scale here? What what's the the bull side the blue lug Extreme standard deviation of the web. That's another thing I look at. This is the web This is one standard deviation. That's called daily value area. There's one and a half Here's two So you have you always want to know these areas because this is where algos kick in and revert to the meat All right, so we have blue lug extreme standard deviation. That's bullish Right Let's bearish. Well, we just pierced through that zone. That's number one and Ultimate bearish thing is if this newest zone fails That's bearish as well. Let's take a quick look at soybean algoh guy Just want to see it behooves you to see all this stuff because this is what runs the market These algos run the market most of the time so you want to know. Hey, are they on your side? Are they against you? Obviously, this is trend out. You would be amazed just at this alone Oh, you can catch trend days again the guy that I learned this from Again, I don't I don't incorporate things lightly into my training as you guys have heard me say before like lugs and everything I had to watch it for months the guy that taught that showed me it and that I was mentoring He had made like a million and a half bucks in a couple months and I'm like, okay, I'll start looking at him Right same with this like so this guy It's amazing how if you catch a trend day like you can stay in trades, right? So look at this just if you're trading off algoh guy So say there was a set up a pair. I'm sure there was I'm sure I missed this at the start of the webinar or whatever But um Where you can hold the piece, you know, you get out in important areas But you hold a piece and say I'm holding it until this shorter to a moving average That this is an exponential moving average ribbon Can't get above the longer term then that something's changing and until then you just hold it So wait, this guy would trade it He'd wait for pullbacks into the red as long as the blue didn't pull across the red He would then get short when it got back below the blue So he would wait for I think he'd put out a piece in the red And then he went to cross back he put more on and then he would literally trail a stop outside of the red Because you can see here try to get above no No No And now it's hugging the blue now here's a test of the red, right? So you can really stay in trades here just you know with a piece of your order Until the same crosses then then you say, okay, I don't know but this is how you catch huge I mean look at this is a 30 cent move just for the algoh guy where you're saying So you just got in here say there's a volume there like I'm holding this thing until this blue It shows a shorter term can cross then I'm getting out. He'd still be in this trade Right and or maybe a volume of that. So guys the opportunities are endless And what I'm telling you is you don't have to incorporate every one of these things in your trading pick what you think is valuable If you look at this and don't think it's valuable then I don't know like here. Let's let's just pull up some of these other markets Wait look at this This valuable Just just to pull back to the red concept. Can you imagine if you give volume setups in here back to the red held held held Is it gonna hold if not Change of environment blue gets below then it'll probably do that that's goal Speaking of which this is exactly why this not exactly but this is Another reason where you can say I am not taking shorts Until the blue can show it can get below the red. Here you go. I mean I took this short obviously I'll still take it, but I'm fighting against As these are the major players in the market the elbows run the show, right? Especially when it starts to die down like now Red blue red red red, right? So you can say again just another factor to helping your trading it for one of your one of your Ingredients of your trade setup of your playbook. I don't take shorts unless the blue is below the red I could I can't even tell you how much money that would save you in the long run If you just waited for that The problem is most traders can't be that patient, right? And that's why most traders fail Let's let's take a look you've got to be careful though of just playing like another another Method of this is playing when it crosses It's great when it works until it doesn't work. You'll get days where like for instance like looking yesterday and crew like Tag tag tag couldn't pull the blue above Bag and start I mean look look this if you just say you get your s. I set up up here and you hold the piece you catch this entire $3 plus move today That's that's that's something's changing. Hey, look at that Now the blue is above where you can say I'm not taking any shorts now that that's short term exponential rhythm See what I'm saying So just this alone like I was just talking about right? It's whatever you're looking at say you love this I can guarantee you if you just trade in the direction of this with that side indicator steps I will bet you that's a profitable strategy just that alone nothing else. You don't look at anything else But algo guy and your volume stops I'll bet anybody any amount of money on here Up to a round of golf just like thousands of dollars in Arizona right now Or any questions on that Paris? I'm sure there's questions on algo guy. I don't show it that much But it's just we're watching it more because of the other algo trade we're doing but it's pretty unbelievable how the thing won't respect it This one tried nasaq tried and then now it's back above Yeah, no no no questions there So we're just waiting to see what's going on here and uh, oh I would normally I would short this aggressively out of here But We're at the blue log My roles are off the blue log. I get long aggressively but in this situation This is when I talk about the subjectiveness, right? So this position trading stuff. I'm a little more I'm more so way more subjective than my others. I showed you that important zone But I'm waiting for you know, we're below that zone. So I don't want to be I'll go along but I don't want to go long aggressively I can't find the zone now. I can't find the chart I Know we're at the blue log, but guess what this was bullish in my mind. This should not have this zone should have held again Up the tail now we're below here. I'll still go along. It doesn't mean it can't do that But I'm not going on aggressively. I need to see what at every test failure of my volume setup All right, so I never put on this short because I'm waiting I already got the atr. I was waiting for this this this that doesn't happen And I can't go along this setup because I was able to push an atr below here So This moves higher. I need to see a new setup and then I'll potentially go along and then we'll be through that zone too And then I'm really not taking any shorts. So this is it and you can see what's up here too You know these guys no matter what happens even if this doesn't end up selling off at the end of the day These guys need their fills So the big money Once that gets filled then then it gets a lot But is it this probably is not going lower until these guys get their fills I'm hoping it just pops up there granted this now that would still be I'd still be within an atr Meaning the short would still be valid, right? I this would not be valid if we got more than an atr. But this atr is 11 11 ish close to 11 So this could actually fill this could actually fill and I'd still be able to short this market that would be preferred to the market cares what I prefer but Because I know these guys will get filled Eventually we talk about it every webinar. This is this is not. Hey look at all these sellers up here I want to be sure it's look at these magnets up here These guys want to get want to get filled the longer it's in here More important is and the more likely the market's going to get to it Why because they're going to force the market into their orders because they're the big players and they could push the market around And stuff we talk about every webinar All right, so let's uh did I put the zone I'm gonna put the zone in 28 25 27 25 Again, you could do this by hand too guys. It's just I used to do by hand as you remember all my other webinars It's just made it so much easier I'll develop it in the room six God's sign you can save me so much time um, so 14 31 quarter would be an atr above there Remember I said I want to see atr retest. There's 31 quarter. So that's an official atr. So what does that mean? It means now if I get that that that I could go long I will go long and that also means the short idea is disqualified I wasn't going to go short aggressively anyway because of the blue blood Again, normally I'd be long right now But we're through that zone. So I'm going to wait for one of these I may miss it But very high likelihood. It's going to retest fail. Then I'll go long. What's my long price? It's my size I could put on eight contracts risking two percent of my account size that amount I could go long at 31 51. That's 110 of an atr outside the top of the zone. So I need to see this And I see that and then I'll go long right there and then my stop goes 110 of an atr outside of that which again, I don't have to guesstimate just got a look 14 24 That would be 110 percent of an atr outside of there. That's all I do all day long, right? The more mechanical you make it the better you're going to do the easier on your mind is going to be Like I said, the position trading is a little more subjective But I'm still very mechanical on how I trade the setups, right? It's getting in and out and sometimes making a judgment call Kind of like not getting long the soybeans right there. So on and so forth, but other than that playing the zones It's very very mechanical. I follow it. I do the same thing every time All right, here we go. Let's watch this liquidity get filled I'm gonna hop off here pretty soon too because the other your other guys coming on tombie No questions first. Yeah a few questions on now on the settings on the the red and blue indicator on the algo thing Uh, the settings. You know, you gotta this is not really proprietary for my trade room, but I don't You're gonna have to come in and get this yourself and break it down because these are different. These are all moving average bands These are different moving average Different moving averages. I mean, I'll show you the This just we looked at this the other day. I can't remember I know I should know this but like the guy showed me in guys I'm when I'm showed something that works. I don't need to mess with it, right? You've got so many traders Can't even tell you like even what the stuff we're doing in the room with the volume of that It's like always trying to add something. It's like what if you had what if you had a moving average of the atr That's based on it's like why why do you need to do any of that? Just just trade it like you see it It's like I just don't understand so Anyway, I don't know. I mean, this isn't showing you at all If you come to my room, you can get all these because this isn't showing either But this is like 173 Anyway, I don't have all these are all different moving averages. I think I think they're nine each Or maybe these are nine and these are five. I'm not sure but I don't need to know I know the settings I have work and that's what I that's what I use Google exponential moving average and you can read all about it and you can Google exponential moving average ribbon and then you can learn how to build them yourself if you want If not, you got that workspace in my in my chair room. All right quickly. Let's see here So shockingly this this first band of liquidity got filled and here comes the next band And again, if this gets an atr outside the top of the zone, this short idea is canceled You guys this is exactly what I said at the end of the day Like this was looking like you Most most of the time you don't want to be messing with this short here I was willing to give it a shot in that important zone, but now we're getting through that zone I'm done. I'm not even considering shorts. This gets a little higher Done and done. You just see we're breaking through it right now. This was such an important area So As soon as this and the same with nasdaq 2 Pretty much the same look right? This is all stuff from over here here directional conviction there and selling tail there built a little balance here And then it actually ripped through it. This is the first test back. That was the selling tail So this was still an important zone and we're through that. This is these are the next stops. That looks like These this wise that's exactly looks like we're going and now I'm not taking any shorts I was willing to do it for the 15th time of this webinar I was willing to take that shot in those zones, but I knew what I was facing And that's fine. So this is your new setup I am not we're through that zone in azek. I'm not taking shorts. I'm taking longs or That's it. The other thing you want to see here is how the guide to You want to you do want to be careful when this thing gets stretched away from these because they will snap back And that's why it snaps back because these algos snap it back to the moving average, right So be careful when this change longs when it's really extended the best ones are when it pulls back So this is my point if you trade this with volume setups and say the volume you say I'm only taking the volume setups in the red Probably golden Sure, it's golden. I could test another one of the things that we're going to test in my room I just I have so many in my mind that we're going to go there. We're going to test. It's one of the time I you know There's just so many other options That you can be trading with I just want I don't want to confuse myself. I've had enough going on I can't be trading five different scenarios right now, but Eventually we're going to get some of the stuff automated too, especially the atr trade All right, so that's the current zone. I've already determined. I am not going short now because we're through that zone And actually let's make sure that yes, I may be just deleting that What do we say the price was? For the short to be disqualified Meaning you got an atr above that zone. Just make sure this is still correct Atr is now it's done at 9.85. You can see in the middle there So it should be qualified All right, now the action price is 3,160 So we'll say 31 Say 3,150 Not get there yet. So me I could still Potentially play this short that I am resting here This is another thing you guys want to watch out for too like say you're long and you're playing you're like I'm going to get out at some of this liquidity when the market gets to this liquidity It sometimes it plots through but you get these algos that pick up the size Relative to the other size kind of like we're seeing here And they run it away because they want they want this these orders to chase the the market Then they turn around and go the other way, right? So My point is if you're waiting for liquidity and you start to see red bubbles I would not wait for fills. I would just get out This happens so often and you can come up with a strategy just on this You had some of you guys love scalping so much you can say, okay I'm waiting for liquidity the minute I start seeing large red bubbles I'm going to hop in hop in and hop in the trade and you know try to catch three-point out risk or an atr I don't like the static points. Like I said, I'm going to try to catch an atr away from there Risking an atr like a one-for-one type of trade You guys the opportunities are endless the point is you're using real-time buying to determine Your areas and that is the most important if I've ever mentioned that before So I'm waiting for this to be disqualified and then nasdaq Or a new setup that is nasdaq all along. Let's just take one quick look here I know we're through that zone. I want to make sure I'm not buying into a Hey, look at the liquid. So you've been sponsored off. That's really surprising I can't believe that look work. Look at crude by the way, too I was going to show this that we have nothing's really happening crude This is like after the number and look at this thing These things again, go these aren't on my website. Go to love with levels.com She's had three three-day trials say you saw it on the web web webinar You get special pricing, but blue lug red lug Now it's just possible but I mean you just wait for volume set up set these lugs They're incredible. I just can't say enough about them. You should see the room every day like oh my god, these things are ridiculous. Oh my god So I'm fine here. We just just built new lugs Dancing around the old lug right now What we're above the old lug. It's not like I'm buying into the red. I'll go along here You can see we're snack dab. It's kind of stalling at this point of control This is important. This is where this failed the other day It's almost through there too. So you can expect if this moves higher and we got a volume set up right in an important area This is the first target if I go long up here And then the next target would be red lug put our zones in so you guys know the prices Top of that zone was 71 50. The bottom was 68 25 See it down there and you see it in the middle 39 34.63 all right, so Position trading that's down here So I got to decide I could go along here aggressively. I want to go along here aggressively through that zone Oh, look what's up here. I wonder if that's going to get filled Um, and I know the red lug's pretty far away. So you can trade this one or two ways You can jump in and just say this market is ridiculously bullish today I'm not waiting for pullbacks. This thing can't break the the zero line pretty much 80 80s at 25 vixen on its lows. I'm not hoping there's a pullback. I'm in algo guy is You know but the problem here is what this is where you can use this to your damage too, right? So say I want to get it aggressively. What would I be getting aggressively? I'll show you out here in a second. I'm sure it's somewhere up here Well, there's a very good chance this thing pulls back to this alone let alone the vine events So what I'll probably do here is wait for a retest failure just because I know if I'm getting in aggressively my price would be 09 half right or 0975 But that would definitely be extended away from algo guy Right, that would be way up here. So I'll wait for that. I will wait for that. I may miss it, but I'm not going to risk You know that this pull very likely it pulls back and guess what that 1470 is probably going to be right in the red when that pulls back So this will move higher and the red will probably be right in this area And that'll be a nice pull back to the red and then I'll take retest failure and I don't know Or like I said, this is this is the art you can say I've seen enough scott This does that and pulls back. I know that's in the red. This zone is we're going to be right in the red I'm going along the minute it pulls back there I don't need to wait for the retest back out of there. I mean again This is the science the artist how you trade them Their opportunities are endless, but this is the key. This is the edge That's all I keep saying you guys because it is it's real time volume. That's what drives markets not lines on a chart All right bruce. So I got not a lot of trading took that one short Um, this should be disqualified Yeah, so this is definitely Just got the atr above there shock and lean liquidity got their fill. This is done So now what I'll do here. I don't know. No, I can't take along off this because this was already an atr below that disqualified But I'm waiting for a new setup. All right, so I'm not I'm sitting on my hands in this market till I get a new setup I'm waiting for a retest failure of that. I'll go along that And then I was waiting for a retest failure of soybeans, which it looks like that's going to happen too All right, so if this goes This is definitely an atr. We go retest failure. I'm going to go along there as well That's basically all that happened today Any other questions bruce? No, I think we're all caught up here. Um, so Yep, yep, excellent. So what yeah, thanks scott. I'll have to brush up on my movie trivia Yes, absolutely. That's that's just not acceptable especially this close to This close to christmas What I should have said to you is not cool being a jive turkey this close to Thanksgiving There you go same movie There's a lot of that movie Yeah, that's one of the funniest movies of all time Yeah, yeah, excellent. All right, so uh, uh, we will continue on uh, next uh, thursday So again guys, you know, some days are like this, you know, there's not a lot of trades This is why you want multiple markets. You're not forcing stuff. You're just waiting to see what you want to see You're like a sniper For lack of a better phrase Um, but that's what good traders do bad traders try to catch every move. They have the fomo. They're jumping in and out Please don't be a bad trader Take what you learn here and then start to build your own trade plan And if you're having trouble doing that, that's why I do the mentoring. I do the 101 you come in the trade room There's a lot of good traders in there as well that have different trade plans that they're using so My goal is to help you guys become better traders profitable traders. So All right, Bruce. I will see you next thursday. Okay. All right. Thanks a lot scott. Thanks everybody Bye