 Okay. Good morning, trader. Sorry for being late here. All my fault. And thank you, Scott, for being so patient. Anyway, guys, let's get going here. This is live trading with Scott Pacini for being so patient. He will be trading live here. He does it every Thursday at 10 a.m. East Coast time. It's futures trading. And you get to peek over the shoulder of a professional and how he reads order flow and how he manages his trade, his trading styles, his philosophy, his outlook, his mental state on or kind of condition on trading, all really good stuff. He's been trading for over 20 years and was trading large, very large size in the early 2000s. I have Scott's information here. I'll put this into the chat for you. He offers, he has a website. You've got his email, his Twitter. He has a trading room and he has an educational course that's on our bookmap marketplace. All right. So, and he's going to be updating that course here soon. Let's go through the disclosures and then we'll turn it right over to Scott. General disclosure, all bookmap limited materials information and presentations are for educational purposes only and should not be considered specific investment advice nor recommendations. Live trading is in simulation, demo paper trading mode and strictly for educational purposes. Live trading executed in simulation cannot accurately represent realistic trading performance. Risk disclosure, trading futures, equities and digital currencies involves 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 those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results. All right. So, let's turn it over to Scott. Scott, are you there and can you share your screen? You hear me? Yes. Okay. Yeah, I got it. You have my screen? Yes. So, we're all set. Obviously, Armageddon is upon us. Santa Rally is being given the finger. So, these are some important areas that we just melted down through. It's basically got one more before Grinch arrives and this thing plummets. Let me find my drawer here in one second. This last couple of days, just nothing trade and overnight moved into here or failed. This is where this market gap down from and then there was other stuff here. So, I have these zones. So, I mark my zones at the four important areas of trading. My tops and bottoms are balance areas, directional conviction, high volume nodes. I don't actually draw those zones, but a lot of times they line up with other things that I'm drawing as you go over here and then buying its only tail. So, anyway, this was an important zone that it failed in buying tail. Gap up, which is directional conviction. Gap down, just directional conviction. And you're failed and then you had a fail breakout of this structure and just gap down. So, I'm going to be drawing a new zone. I don't really need it right now, but if we start to rally, I'll draw it. But this is just giving you information. If this market was truly bullish, first and foremost, we've talked about this. I think we talked about this last week, bigger picture look. This market had a failed breakout and we did that. So, when that happens, markets should do that, this thing recovered. You expect multiples the other way, which happened. So, this was looking like that. And then I kept telling, I told you guys and I told my room, kept telling my room, then why are we back down here if this is so bullish? And then it started the meltdown. What we talk about all the time is when markets, you know, and then you can make this basically one big structure. When markets break down from that structure, many times it will retest the bottom, right? So, this zone is the things I just showed you, but it's also the bottom of this balance area, right? So, many times it will come and retest the bottom and then die. Sometimes it will retest the high volume known and dying. You can see this zone is basically right in the high volume known for other things. It's just amazing how this stuff matches up. Anyway, I was expecting either that or that and I still was bearish this market. If this would have gotten through that, then I would have changed my tune again. So, again, the trading is if then scenarios and then you adjust as things happen now. So, this thing failed where it should have. If you had a fail breakout of this structure, melts down, gaps down through this, through this, and it's trying to hold this one. This one breaks. Again, the Grinch will be visiting. Everybody's stocking is a share and not Santa because as far as structure-wise, yeah, you could make this. This is one big area, but we have some ways to go to that. And then this is also a gap that happened. There's no structure here because this is the last thing that happens. So, you want to pay attention to that and there's really no structure here. So, the point is this is where I'm looking. If this can get below here, it might happen today. I mean, I'm expecting a small bounce here and I will play it even though my usual rule of thumb is the ADD advanced decline line is under 2000 and it's not yet. I will not take long because this is a trend down days type scenario. But this is down far enough in a major zone. You can see this tick has been negative the entire morning. It has not barely even gotten over the zero mark. So, this is the NYSE tick that I look at. So, this is just basically the whole universe of stocks that you want to keep an eye on. So, there are bigger picture views. Anyway, this is a major down move. Straight B line move into an important zone. And now we have a volume setup. So, I will take this long off of this volume setup. So, what was the setup? It was not threshold. So, this was threshold. So, I have thresholds for each market that from watching these for so long, I know the volume on this SI indicator that is relevant versus not relevant, meaning tradable and anything. My thresholds for ES are 500 stops. That is what this zone was here. And then icebergs by our cell are 700. So, if it is less than that, I do not pay attention to it. I do not trade it. If it is more, I will draw my zones. And then I have a strategy of trading these zones. So, this is the most current volume setup. This is a cell ice 800. And that is the zone. Again, we talk about this all the time to draw these zones. There are always issues. So, this is the top cell PC, 166 contrasts. Bruce, how do I, why does this always come up where I get to hear everybody entering the room? I always mute it and it always comes back. Any ideas? Yeah. Yeah. So, you can go to, okay, in Discord in the bottom left-hand corner. Right? Click on. No, we have not done this before. Click on, by your name there in the bottom left. Okay, click on that. User settings there. Okay. Now, go to notifications on the left. I think we just did this a couple weeks ago, right? Yeah. Go up, go up. I think it is up. Oh, there it is. Okay. So, now, just disable all of them. Yeah. So, no, keep that off. And then just disable all of these here. All of them. Just go, click through all of them. Yeah. I know we did this before. I don't know why this keeps. I don't want to disconnect the voice though, do I? I think your daughter comes in and enables them all. Yeah. Baby. Can you hear me still? Yeah, yeah, yeah. Keep doing it. Keep. These are notifications here, so. It's really annoying. Yeah. I hear you. So, this is all I really needed to do is viewer join, viewer leave. Not really, because I went through the same thing and like, I was still getting them and it was just like, okay, I'm done. I'm just disabling all of them. So, now you can just hit escape in the upper right. There you go. Okay. Yeah. That should do the trick. All right. All right. So, the market waited for me here, which is nice. So, I, you know, this, this volume of that, this is how I trade, right? So, I come up with bigger picture thesis and I will look at the other stuff that I look at as well. But, you know, bigger picture is zones, which I've now labeled. I didn't know that you can, I never even paid attention that you could actually put prices on your zone. So, I've had these zones for years that I've never put the prices on. So, now you guys can see the prices. So, that should be helpful. So, I watch, I watch these areas with my thesis and then I wait for real time volume events to tell me which way I should be trading. So, you can see we're moving down into the zone and we have a volume event. So, that's that. NASDAQ is doing the same thing here. Let's see. So, it's through its own. So, this is already Armageddon Lake, right? So, this ES is just at the top of its own. NASDAQ just melted through its own. So, this is such important information. I want to be careful chasing this thing. The best trades are going to be when it pulls back to these areas. It may not get back to these areas. I'm going to let the volume events tell me. But, you know, you want to be very careful, especially after this kind of move. It doesn't mean it can't do that. But the best trades usually, especially in equities, because they always screw the shorts, then go, would be to wait for a return to these areas, trade. So, the last setup in NASDAQ, this was a stop run. This was this right here. It was 185. That was right around 11085, which was right in the middle of the zone. So, this is actually perfect. So, if this goes as far as it's even a better type of entry where I'll go, when we talk about this every week, I'll trade these things in one or two ways. Obviously, they're taken aggressively, meaning as soon as it breaks just outside an ATR, I will just jump in if it's an important area. Or the more confirming trade is to wait for the retest of the volume event and then fail again and then get in and then you put your stop and ATR above that zone, right? So, this actually would be great if this could, you know, this is barring something new coming in, obviously. But if this finds its way back up to the zone and then fails, that in itself is a setup and that's also going to be a retest of this zone, which I fully expect, or my thesis, what I'm thinking now based on what it did, it's going to do one of these, right? So, there's your volume event. If something else happens, then I'll trade that event. But right now, I'm looking for, I would like a retest to that zone and then I will short it. So, that's where we'll keep an eye on there. And then ES, you can see it's bouncing off of this zone. So, what's probably going to happen, because again, one, this is a pretty big move down without any kind of pullback. Two, they always screw the shorts before they continue lower. So, everyone's jumping in here short. It's going to do one of these. I expect to move probably back into this zone and then one of those. That's what I'm expecting. If something different happens and I get volume events that start showing me bullish tendencies, well, then I have to adjust. But right now, I'm looking for shorts. I'm going to be very careful shorting in this zone. I want to see this break this zone like NASDAQ did, but we'll cross that bridge when we come to it. And then the other stuff I look at, and I will, you know, right now I would go along this setup too, because remember, like I have a thesis that we're going to zero. I've been saying it every day in my room since 2021. But my thesis is, you know, that's just my opinion. I let this real-time volume tell me what's going on. So, if this turns into a bullish setup, meaning this can get above here more than an ATR, and I get a retest and I get a failure, I will take the long there. I am a day trader. I'm not expecting some big move higher. I'm not expecting like, you know, something like this, but I will go along that setup here and I'll probably be getting out there because I am a day trader, right? So, I'm just letting the real-time volume, which is the most important factor in trading, let me know which way to trade, right? So, when you do get volume setups that are in the direction of your thesis, that's when you can trade bigger, aka an A-plus setup, right? When we talk about this every webinar as well, where, you know, you want to be risking, and we have a spreadsheet in my trade room and we'll get into this, but you want to be risking a certain amount on every trade, regardless of your point size. So, that's how we, you know, I just showed you the zone. So, we enter our zone prices in here. We enter in the current ATR. And then we have a couple of different strategies that we're trading, but this is the position trading strategy where it tells me where I can get in and get out based on this zone, right? So, we'll come to this in a second. But the point is you want to put in your account size and you only want to be risking about 1.5 to 2% of your account size on this trade. And you should not be losing more than 6%, 5%, 6% of your account size in a day. So, what I was getting at, if you have a thesis and you start seeing setups that are in the direction of your thesis, well, you can trade bigger as an A plus setup, right? So, I've told you guys before, I was, um, when I got back in the game, when I first started using Bookmap, I was going to trade stocks and I was studying. S&P, I size 118 contracts. All right, so we got more by, now we got bias here. This was sell ice. So, now this, I always revert to the most recent setup, right? So, we're going to draw this zone and we're going to try it off this and this is in that zone and we have bias. So, this could bounce right in the zone. If this breaks, you can say good night. This thing's going to, at least down in the zone today, it would be my guess. So, anyway, my point is when I was learning how to trade stocks, I was learning with S&P, they're more of equity type traders and they harp on, they literally ground their traders if their traders don't have their A plus setups. So, everything's aligned with their thesis. If they're not trading bigger on their A plus setups versus their normal setups, right? So, the point is you can trade bigger on individual trades. You could bump this up to 4%, but you're basically, you know, three quarters of your risk for that day, remember I said don't lose more than 6%, you're, you know, if you lose that trade, you basically got one bullet left and you should be done for the day, right? So, there's nothing wrong with trading bigger, but you do not want to be violating 6% of your account size in a day. You cannot be losing 10%, 15%, 20% of your account size because you will blow out your account eventually. It's just, it's gonna happen. You're gonna have a day where everything's going wrong, where you're on tilt emotionally and you're trading bigger and you're like, and then you just say screw it and you're just, everybody knows what I'm talking about, they're trading for any period of time and then you just start throwing on size and you're like screw it now, what the hell? I'm already down 20 grand and then you lose 80%, 90% of your account, then you wake up the next morning and you say, what the hell was I thinking yesterday? So just take it from me, take my millions of dollars of beatings when I didn't respect my loss rules and put something in place so you don't blow out your account. All right, so let's, that's my rant for that today. So, you know, when you're drawing these zones, again, I have these bubbles on these to draw into the bubbles and then I realized that I should be, I took this off right when I got bookmat because it was annoying me this price line but it's very important and you just right click on these bubbles, go to last price, click on that and then when you're drawing your zones, you take the bubbles away and you can see the actual traded price because the bubbles, the price line is in the middle of the bubbles. I was drawing to the bubbles for a long time so this is way more accurate and you can see this spike right here so I want to, you get your cursor and you want to incorporate all the prices that happen in that spike. So that spike started here, that price went up to here so that's going to be the top of the zone more than likely. And we're going to come and follow this down here and you can see this is where this ended and this price was involved in that so I'm, oh, there's your zone. And now we bring back the bubbles. We enter the values in the spreadsheet and then we decide which way we're going to trade this puppy. So the bottom of the zone is 38, 35, 50 and again this is a product don't, please don't email me asking me for this spreadsheet. This is proprietor of my trading room. You're more than welcome to come in the trading room and I do this every day. I trade live every day. Actually that was the top of the zone, sorry. And you get access to all this stuff. Zone is, looks like 31 quarter. 38, 31 quarter. So that is the volume event that I am going to be trading off of on how the market reacts to it. I'm sure the ATR is correct. ATR, this is just a five minute while there's ATR default on thinkorswim. 6.04. You can get them on basically any trading platform. So this is telling me where I can, and this is our one thing that we do or one strategy we're doing in the room and then I'm trading position trades on the book map webinar. So this is telling me where I can either go long or short, where my stop should be. How many I can put on based on my comp size and how much I want to risk on the trade. So, you know, for this one I don't have a strong conviction on the I might be buying it, but I'm certainly not going to be trading more than the 2%. Yes, we're in an important zone, but these markets are not looking promising, right? And you can always judge too by, you know, yeah, I know it's pretty obvious since we did this, but how the market reacts to these important zones tells you everything, right? So if this was truly bullish, it should have bounced. It was truly bullish, it should have bounced. It may bounce here, but I'm still expecting that. Right? So I'm fully expecting a screw you move, which I will be prepared for off of this zone, but I am waiting if we get retested into these zones, these are going to be really high percentage shorts. And that's what trading is. It's percentages. It's nothing is guaranteed. There is no indicator that's 100%. There's no indicator that's 80%. I know people say, oh, I'm an 80% trader. Well, if you're risking one point to make two, yeah, maybe, but you're still going to grind yourself down and so on and so forth. I'm not going to go down that rabbit hole rant today, but the point is trading is percentages. That's all it is. We talk about this every week. Maybe we'll get into this if it's dead. You know, this is directly from trading in the zone. We, I harp in this in my room every day. I tell my room members to tattoo this on their forehead. So they don't forget it or on their thigh. We'll go into this, but it's basically learning to trade an edge like a casino. That's all you're doing. I know you guys have heard me say this before. We'll come back to that probably if I feel like ranting, but that's all trading is guys, you get your edge. So my edge are my edge is understanding market context, knowing these important areas. And then also the Ludwig levels will get into that and then waiting for real time volume events to confirm what I'm seeing in my important areas. That's all it is. And I know I'm going to have losers. I know I'm going to have winners, but with the edge, which is the SI indicator with the real time volume events, I know over a series of trades I will be profitable. Doesn't mean I'm going to be profitable on this particular trade. I could lose the next five trades, but I know over 50, 100 trades I'm going to be profitable. That's why you need to pace yourself and trade the correct amount on your trades so you can capitalize on the variance when your losers and your winners. And if you have an edge, you're going to have more winners over the long run. And that's all trading is. So you have to be patient, follow your rules, follow your risk parameters. If you have an edge, you will make money. And that's what he does this exercise in the book. Again, get the book. And he talks about, here's the exercise. It's just basically backtesting. He even says in here, the purpose of this exercise is to convince yourself that trading is just a simple game of probabilities. This is not me. This is directly from the book. At the micro level, the outcomes to individual edges are independent occurrences. That means I could easily lose on my next trade. And random. At the macro level, meaning a large series of trades, the outcomes over a series of trades will produce consistent results if you have an edge. You can be the casino. If you have an edge, it generally puts the odds in the fate of success. That's what I show you guys every week. This is the edge. Bar none. It's the strongest edge I've seen in 23 years of trading, plus. There's no better edge out there, in my opinion. And then, again, if you can put this into areas that you think are important, whatever you're trading with now, if you're not using this and you think it works, well, it's going to work even better if you can understand how to trade these zones or these volume events in your areas, right? So, and I've proven you can just trade these events in a vacuum and still be profitable. I did that last December. I was going to try to do it this December, but I've kind of gone off track. I've been aggressive a couple of times. But last December, just approved my room without looking at anything else. No market structure, no zones, no lug, lug with levels, nothing. All I did for the month of December was wait for an ATR, move outside, a retest, a failure, and then I would take the trade, whatever way it was. And then I would risk the other side of what you guys are going to watch, but that's all I did for one month and it was extremely profitable. So that just shows you if this is the edge and then if you can find areas that are even, you know, that are really important, kind of like we're in right now, that just enhances your edge, right? And you can trade bigger so on and so forth. All right, so we're just waiting for this to move out of here and figure out what we're going to do. Let's take a look at, I just want to see something here. We'll take a look at our lug with levels, like this is in big trouble. Again, I would love that or even that. This is, I'm going to say coming down here in the next, hopefully by tomorrow because I do have some puts, actually by the 27th, they expire on the 27th, but markets are in trouble. So that's my thesis anyway. But I'm always ready, you know, something happens and these markets, something can always happen. Again, we'll keep coming back to this, to tattoo it in your forehead. The five truths, what's number one? Anything can happen, right? That's why you put stops in. That's why you follow your rules because these are markets. Anything can happen. I can't tell you how many trades I've lost on that we're looking perfect and then some kind of news event comes out and blows me out, or not blows me out, but knocks me out of the trade. That's just what's going to happen. That's why you have to protect yourself with stops, with rules, and then you're just on to the next trade. If they come out and find a cure for cancer in the next 10 seconds and the market does that, right? And I say, I was sure, well, I stop out and then on to the next one, on to the next one, on to the next one. If you have an edge, you will make money overall. All right. So, of course, we get on a webinar and then nothing happens. So, we're just waiting there. Let's go over some of these other... Actually, let's look at our Ludwig levels first. These are incredible to trade for day trading, right? So, this is your cumulative delta. We'll talk about that a little bit later. So, right now, the story I'm getting with my Ludwig levels and my market profile. First of all, I want to merge this day. So, if you have... These are just... Most of you guys know what market profile is, but I use it in the very basic sense, pretty much like all my trading. This is one day's value area and if this value area overlaps the prior day, then I will merge them and make a composite and the composites are multiple days, two or more days value area, right? And those are very, very powerful as well. And you can come up with a story, aka thesis on how they're reacting to the value areas, prior value areas. So, let's merge this. These are prior composites. We'll just look at this quickly and see where these were. So, this is the story that I saw. I mean, that's not hard to see, but this is what happened. So, this was yesterday. Market opened up right at the point of control of this two-day and launched out of here. Held out of here, we closed outside. Well, what should that have done? That should have held at the... I mean, if this was a bullish market, it should have at the most bounced off of here and then headed back up to this one, right? Because these are individual days. So, these markets gravitate towards prior value, right? So, if this was a bullish market, that should have headed up here. What did it do? It didn't head up anywhere and it gapped right down into this right through it, right? And now we're almost through this one, right? So, obviously, that is not good. What I think is probably going to happen because it happens 99.9% of the time, we'll probably get a screwy rally and it'll probably come up to here and this is going to be a very good area to be looking for shorts. Now, I'm just going off of the market profile right now. I know I have my zones as well. And then when the zones match up with the market profile, because it's basically all the same stuff, that's when you get your A-plus areas and you wait for volume events. And anyway, it doesn't mean it has to do that, but I think the better trade is waiting for a bounce to short it, right? So, say this, that's my thesis right now. Or we get in here. If it gets inside this prior one, then you expect when markets accept in the value, prior value areas, you expect the other side. So, this could just keep going too. So, we're going to let, this is why you want the volume, the SI indicator, the volume events because it helps you get, if you're just looking at this right now, you're like, what do I do here? Is it going to bounce here or is it going to break down and go through here? I don't know. Well, you wait and let the volume events tell you what it's going to do. And then you can trade. If you understand how the market usually reacts to the volume events, it helps give you the edge and understand what it's probably going to do, right? Hence, the best edge out there. So, this, if we move down a little lower, is really important. It's really nowhere in this context as far as structure. There's nothing here, right? Like, this was the gap. Just like, yes. There's really nothing here. But on this chart, this is an area. We're coming to it here shortly. But pretty much, 11,971, right in this area. That is an important area where this market may, may do one of these. I'm going to, if I get a bullish signal there, I'm going to go long and I'm going to play for that. And then I'll go short, right? So, we're kind of right. You know, this isn't kind of no man's land. So, let's see what happens when we get down here. And then I'm pretty sure a volume event will fire off in this area. And then we can make better judgment. But my point is, if you're just staring at this chart, you have no idea like, okay, I'm going to, I'm just going to buy here when I touch this. Yeah, you may be right. You may get lucky. Or it may just melt right through. Well, I will almost promise you, there's going to be a volume event there that will make a much better judgment slash decision, right? And then we got blue lug. I don't know why this is a universal cursor for me. So, the blue lug is pretty close to the bottom of this profile here. It's probably maybe about 30, less than 30 points away. So, basically what I'm saying is if this gets through here, you can expect that. And then that's pretty much right around that same area. All right. So, that's going to be an area it can bounce to. But I mean, I'm not, it would not surprise me one bit after what just transpired especially because everyone is thinking Santa Claus rally, oh, this has gone too far, blah, blah, blah, blah, blah, blah, that don't understand. You get these buyers, that's just going to fuel as they puke them out. I think we're coming down to this today. That's what I think. Could be completely wrong, could hold and then recover. Well, I'll change my tune when that happens. But right now, I want to be short. That's what I'm saying. So, now I just sit here and I'm patient and I wait. You can see we're just this entire webinar where we basically been sitting in this zone. So, I need to wait. I'm just not going to throw on a trade, right? I need to see a movement out of here to decide which way I'm going to trade this. I hope it's down because that's my thesis and I'm going to, you know, step on a gas, but if it's up, then I'm going to trade to the upside. Any questions on any diapers? Yes, we've got some questions in here. So, let's see here. Pour in a beer, by the way. I'm just kidding. Drinking and trading. It's only 846 here. It's a little too early for beer. Even though if I was on a golf course, I would be drinking right by now. Usually two or three in already. Really? Really? Like a third hole, second or third hole in the end? I play so much better when I'm drinking beer. So much better when I'm drinking something. So this was just included. We'll go over this too. Go ahead and find the question as I draw this on. So, yeah, there's a question on if Alejandro is asking if you can give a hypothetical example of a trade with two or three ATR. I mean, that's not what you do, but that's the question. A hypothetical trade of a two or three ATR? I guess, I don't know, Alejandro, what are you trying to get at in maybe a higher or longer term trade? He has also other questions on the strength level book map indicator. Actually, I don't even know if I've got to put that on. Yeah, he doesn't use that Alejandro. In fact, what he uses instead is the stops and icebergs. Oh, yeah. Strength level is synthetic icebergs, right? So it gives you false positives. So that's why this is 100% accurate. Bruce could speak to that more than I can. Yeah, basically, the stops and icebergs with the MBO data and rhythmic and CME is very, very extremely accurate. And these are native CME iceberg orders. It's different than synthetic or heuristic iceberg. And that's what the strength indicator does or tries to find. Now, just to try to make this more down to earth and speak English here or just clear with language, it just means that these are iceberg orders from the CME. For example, TT, Trading Technologies, is a platform. They offer an iceberg order and they also offer co-location. So those will not show in the MBO data from the CME. We don't know what those are unless you're TT. And you will only know from TT. But there are many people using synthetic icebergs. They're off the exchange, taking place somewhere else. Okay? Right, but it's more expensive, correct? Well, I'm sorry? It's more expensive though, right, for firms to do a synthetic versus just doing it through the CME? Yeah, I don't know the details on that. And cost analysis or whatever on all of that. We just know from the CME and the MBO data, market by order data. And we can also determine stops from that. All right. So let's see all trades market by itself. Yeah, Johnny is asking if Scott, do you use limit buy and sell orders for entry? Or are you always using kind of a market? Yeah, I mean, I'm usually, I'll usually stop into a trade. You know, so if I, so say this, I'm watching this, if this goes like this, I just, especially if I'm on webinars, I'll put my order in. I'll just put a buy stop to enter the trade. So say if you're like looking to say you like, you like to trade it when it comes back to the zone, you're willing to, again, guys, I love, I would love not to risk for my trades, but I've learned the hard way by just entering right when it comes back to the zone, that it's just as likely just to rip right back through it many times. So I do know when it does that, that, that, it's a much higher percentage trade. So that's why I wait for that. But my point is, yeah, you could just put a limit order in the middle of the zone. Yeah, I'll do that too sometimes, right? I don't want to take this trade yet. I want to make sure that this is right. But yeah, I'll use limit orders, but I usually stop into my trades, you know, I just buy stops or sell stops just so I don't miss the trade. So, and just to be clear on that, like then that data is considered a stop and it will be, that'll be, that'll show up on the stop run indicator. So, you know, we don't know if it's a buy stop to enter or a sell stop to enter. But typically when you see a string of stops, we know that a lot of people are getting stopped out of the market. You can stop into a trade. You can enter a trade with a stop like I do, but when you see, like I said, like this right here, this is probably not so many enterings. Exactly. Puking their long positions. They're like, get me out. I want to get out at any price. Get me that a lot of here, right? Yeah. And then there's just stop market and stop limit as well. So you can put in, I'm going to put in, if you put in a stop market order, you're like, I want, this is the price I want, but I don't care where it swipes down to, get me the hell out of the trade. Other, you could put a stop limit and say, okay, I'll put in a 77, 68, but I only want to have a 10 tick stop limit. So say the market swipes like this, well, sometimes it would do that and you would get filled all the way down here. If you put a stop limit in, you're like, I'm only given a 10 ticks and if I don't get filled, I don't want to stop out, which I think it's crazy because like you can literally, if this thing just gaps down, you're never going to, it'll never fire off, your stop will never fire off and then you're still in the position. So I always use stop market. I don't use stop limit. What is the point? Like I know you're trying to avoid the slippage and getting screwed and watching to do that, but you're also really risking if something bad happens in these markets or good, whatever, you're risking never getting out of the trade. No thanks. I'll take my slippage and move on. All right, so just be aware of the stop and I think you guys have it on here now too, right? Limit end, stop limit. Yeah, yeah, it's up there. It's always been there. So yeah, you can put in a stop limit if you like, but maybe consider that for entry, but I wouldn't use it for exit like Scott said because you might not get filled. Yeah, definitely an entry. Yeah, if you don't want to swipe up and get filled at terrible prices, but if you're trying to get out of a trade, then not be using stop limits because you may not get out of the trade. Yeah, very, very dangerous. It'll skip right through it. And then you're stuck. What's the point of having to stop at that point? Right, exactly. If you don't think that could happen, it could happen. That's the part of the learning curve. You think, oh, that'll rarely happen. Well, it'll happen. It will happen. It will happen. And you should be prepared for it and you'd have some sort of safeguard in place because it will happen. Amazing things are going to happen. Unbelievable things are going to happen. I wouldn't call them amazing. It doesn't feel so amazing when it happens against you. Unbelievable would be the word I would use. Not amazing, amazing, I think it's possible. That was amazing. I just lost 40 grand. That was amazing. It is unbelievable and you think, oh, that's so low probability. Well, you'll find that all it takes is a few of those things to blow out your account. Yeah, exactly. So, yeah, safeguards. And so, Luke has an interesting question here about larger traders that trade maybe 5% or 10% I think, yeah, of the entire volume, I guess. I don't know, kind of like how you were back in the early 2000s. But are they still using volume events to determine so I'm just reading out the question to determine their position or are they trying to look for algorithms to take advantage of? I mean, I don't know. I don't know. I don't know. I mean, no idea. I mean, you have to work at the firm to understand the strategy they're using, right? But these firms can see exactly what Bookmap can see if they're plugged in and they have the right, I shouldn't say exactly because Bookmap obviously has some special talent that can decipher this information. So, they have this information to be able to write the programs and the software to decipher this stuff. But I mean, the strategies they're trading off of, some are different algos. I did work at a firm. The last firm I worked at was called Wolverine Trading. They're still around. They're actually a pretty large firm in Chicago. And they were almost all algo writing. But there was like, I mean, the trading room was just enormous and every different section had a different kind of algo or a different strategy they were working on. So, no idea, right? You don't need to know that stuff either as far as even this stuff, it's like when this first came out, people were like competitors and I'm doing air quotes because there's no real competitor to Bookmap and Bookmap is any competitor out there that's trying to decipher, you know, show this stuff. Bookmap is times a thousand as far as I'm concerned that I've seen. But anyway, they're trying to discredit this information because they didn't understand what the hell they were talking about. They're like, they thought I would say hey, if you see a buy Iceberg, you want to buy. Well, that's not the case. I have specific strategies and specific names for, you know, an Iceberg. It's called the Titanic. I also have a specific strategy and name for if this doesn't hold the market, it's called Broken Ice. I know it's very high tech, but, you know, so my point is just because it's going up. Yes, you want to know what the big money is doing. You have a much higher chance. Remember, talking about probabilities of this market holding and going up, but they're wrong too. I mean, what happens if a bigger house comes in and just hammers this market, right? So then they have to get out. So the whole point is understanding these volume events and how they should react in the trade off of them. But it is not just, hey, buy Ice, I want to be a buyer. Yeah, it's good to know. So you get buy Ice and you get all these buy bubbles. These are just market buyers. Try to hear, try to hear. Why is it not doing that? Why are we back here? That's the stuff that you're going to glean from this where you're ready. Okay, yeah, the odds are this should hold after this, but now I'm seeing all this and it's not really responding. This looks like that to me. This is just real-time stuff. It's not about on the market structure, right? So again, yes, you have a higher percentage of this working for you, knowing the big money's behind you. Obviously, because they're the big money, but it turned out always right, right? And we have specific ways to read these where you take advantage of them. So don't, my point is don't use your mental energy trying to understand what these guys are even doing. So that's what I was getting at too, whereas, oh, if you see bias, they were saying, well, Scott's saying that it's just an automatic buy. I never said that. And then they also said, well, you don't know what this person's doing. They could be getting out of a long. They could be hedging their options. Absolutely. And you're never going to know. So why are you going to waste your mental energy even trying to figure it out? It doesn't matter. What matters is this is a volume of that. This is concentrated volume. For this to fire off, these are hidden orders in the order book. Somebody had to be selling it. Somebody is loaded up right here with ways. Whoever bought here, whoever sold here, now they're holding their breath. When it moves out of here, that's the move of the guys that are wrong getting the hell out of the tray. Simplistic, but trust me, that is what's going on bigger picture-wise with this volume, right? Yeah, there's Algos playing games all day long, but these these volume events are Algo disruptions, right? Algos 80%, 85%, 90% of the time you're getting Algoed. Everybody knows what that feels like because it happens nonstop all day long. When this kind of big money comes in, it disrupts the Algos and they'll get run over and then big money will be done and then they'll go back to Algoing. This is all part of their trade plan. They know there's going to be times the big money comes in. Obviously, they take their loss and then right back to this. Just like you should be trading. You know, you have an edge. You take your loss right back to the next trade. So my point is, please don't waste your time trying to understand what this iceberg is. Just know it's here. Know this is the area that occurred. Know somebody was selling it like crazy trying to push it down. They ran into a mouthful of buy ice. Also know whoever bought this you have to view it in this aspect because you don't know what they were doing. When this market moves out of here just assume they need to get the hell out of any, not only that information but you see all this buying and the market did not move very far up. I couldn't even get an ATR out of the zone. Know that's very likely going to happen. Okay. So that's why I say and know that the real-time buying is the driver of all these markets. I don't care what you have on your charts. I don't care what magical price that you think it is unless you have this kind of activity to confirm it, it doesn't mean much, right? When you have this activity in an area you deem important like I already said, at a magical price then you have an edge. Okay. Once you start looking at your areas, right, so like a lot of traders love trading VWAP. I trade the bounce off VWAP. It's not even on this one. Should have been on here. Let's look at it. We'll look at that chart. And there you go. This is what goes on, right? So it's like not saying this was just this house puking right here, but look at all these buyers. They're like, oh crap, I got to get out. That's what we're playing for. So this is a new volume event. Didn't really do much, but now we're going to draw this zone and play off this zone because it's the most recent. You know, if you have volume event after volume event for the position trading, you can make it all one big area and still load it up traders in this area, right? But we'll draw this current volume event. You can see the swipes. This is Global Plus. You want to get Global Plus because it shows you all these different indicators. Swipes. What I call them, swipes. So swipes, I don't know what they are. I call them swipes. You can see that with the dark bubbles and then this was where it occurred, right? So now we're just going to trade off that. It's not much of a difference as far as our prices, but... Scott, just to... I mean, I'm hoping to shed light or clarity on this. Scott is looking at volume events here and very specific in particular volume events based on stops and icebergs. It's, you know, even more kind of transparent depth into what's exactly going on here. But it is a volume event and this is no different than we had what trader aid yesterday looking at volume event in the first half hour of trading. And you guys know that follow Tom B. He's looking at the initial balance within the first hour of trading. Again, these are volume events because most of the volume is taking place within the first, you know, hour, half hour, whatever it is. Scott is looking at very particular volume events within the trading day making decisions upon it. So just I hope that sheds a little bit of clarity on first off what Scott is doing and then secondly it answers a question here about Luke had about some of the larger players in here. All right, so that was a stop run, right? So many times stop run isn't real selling. So it's probably all these guys that were buying in here. They just some of them just puked it out, right? These guys that thought they had it even if they were using they said, hey, look at that big bias come in. I'm going to start buying, buying, buying, buying and then it moves down here like, oh crap, got a puke, right? So if right now at this exact moment, if this markets truly bearish, this should not get an ATR above there. This should not clear back out of the sum, right? It should do that. If it does do that then I'm going to be looking to go long at least temporarily. I have a short thesis, but I am a day trader and this is telling me the real time buying. Again, like I said, you have no idea if you're just staring at this, what, I mean, yeah, it looks like it could be a support, but you don't know for sure, right? This tells you if this gives you a high, high percentage doesn't tell you for sure because nothing tells you for sure, but it tells you the very high percentage. You know, hey, this was going to break that zone. Well, first of all, I should have seen some aggressive selling and I should see, if I do see a stop run, this should just hold, a.k.a. a stop and hold. This is one of my six setups and it should move lower. Well, why is it rejecting right off of there, right? So it may not be ready to break right now. So I'm letting the real-time buy tell me instead of just guessing on a chart because that's all you're really doing until it really moves out of here and then you know and then it's too late, so we have our prices. I'm not going to be aggressive here and I'm very reluctant to go long just because as far as the ADD, it's right at 2,000. Remember, I tell you guys this is the advanced decline line for the universe of stocks, 5,000 plus stocks. Well, showing me out of the 5,000 plus stocks, 2,000 are declining, meaning they're lower than they were at their close yesterday, right? So when you get minus 2,000 or plus 2,000, that is a trend type of day. So you got that information. You got this information. This is the TIC and this is the NASDAQ TIC. This is NYC TIC. All the stocks in the NASDAQ, all the stocks in NYC, they do overlap, but I have both of them. And this market has spent most of the day under the zero line. Very important. And you can see it started out extreme. This means it's programmed. So you start seeing values of 1,100, 1,100, 1,200, that is those programs selling like big funds liquidating stocks. You want to pay attention to this stuff, right? So my point is, will I go long? Yeah, it's very borderline. This is right on the, I don't usually take longs if this is minus 2,000 or greater, right? Because that just tells me yeah, you're going to get pops, but they're going to be very short-lived, right? So, but I've seen enough here where I may take this long. And here we go, right? So, but I need to see retest failure. So this is another aspect of it, which is more of a conservative entry. It is the conservative entry, right? So in ATR above this zone I already put the zone prices in. I already put my ATR in. ATR above the zone was 38, 36. That's right here. So this is an official bullish setup. So if you love that zone, that this zone you could say got my setup. I saw buy ice first. I saw a stop run that didn't continue. We're in a zone. We just moved in ATR. I'm going long right now. I would not give you a verbal lashing if you're a part of my trade room for going long right here right now, right? And a normal day where it doesn't look like Armageddon, the ADD is not close to 2,000, I would probably take this trade long aggressively meaning as soon as it got just outside in ATR and that's what these prices tell you which the actual entry. So if you want to go long right now, this is the price 36.75. That is 110% of a 5-minute ATR. This is one ATR. This is 110%. 36.75 is your entry. You stop out 110% below the zone which is 22.25. So if I was going to be aggressive, I would be going long right here, right now. What I'm going to do because of everything we've talked about this whole webinar and I still think this market's going to get killed but I will go long because this is the real-time's volume telling me to take a shot on long if this comes back, remember playing off of this stop-run zone. I already know there's bias here but this comes back this retest this zone we move back out of here 110% of an ATR aka 38.36.75 I'm going to go long and then my stop's going to go 110% of an ATR below there and I know it. So many people on this webinar are saying that I've never watched your webinars. Well what the hell I don't want to be risking. I can't tell you how many emails I get. Well when I trade, yes I like to trade this is one of the rants so be ready you guys have heard it a million times. I like to risk, I like to put on my trade and I like to risk four points to make eight. Who cares? The market doesn't give a flying you know what, what you want to risk what the market cares about volume events, right and being able to push the ATR out of there so I am not going to let myself and or you get long and you trail your stop you know say you get the market starts moving your favor and you trail your stop to break even. That's just silliness. What do you think these elbows are programmed to do? They're programmed to take out terrible traders so my point is when you put on a position get your stop outside of the volume event and I'm watching thousands and thousands and thousands of these I determine the best way to not get algode is to put your stop outside of an ATR from the volume event. Yes, it's a bigger risk trade and it tells you right here what I'd be risking if I end up going longer. I'm risking 14 and a half points on this trade. All you do, it doesn't matter, I don't care if this is 50 points, this adjusts right so if I'm risking 2% of my account size this tells me how many I could put on if this was a 50 point ATR right now that never happens but it does get up to 20 that happens on NASDAQ means I can only put on I'm risking 45 points, oh my god, it doesn't matter it's adjusting to the volatility so I can just put on 1.41 and it's the same amount of risk right? So that's what you guys have to understand stop it with your static stop it with your trailing stop what do you think why are these firms in business because they know that's what traders do and they take your money all day long and this is almost retesting the zone I'm just hoping this is the bottom of that ice I just wanted to get a little lower to retest the stop and I will take a shot at it along but it's like how many people just got long here say you wanted to be aggressive at that 36.75 the aggressive entry off of the zone you got long and you're like I'm only gonna risk 3 points here you're stopped and then when this goes up 50 points if it goes up 50 points you're beside yourself for the rest of the day and you're like oh my god what did I do please if you learn anything from these webinars get your stop outside of the volume event please begging you stop giving your money to these algos why do you think it's not this is my opinion why do you think the CME started letting this information be known right this is my opinion my opinion only I'm pretty sure I'm right but because they wanted more transparency in these markets because there was no the retail traders were pretty much not existent like five seven years ago it was just algo eat algo there was no there was no fresh meat in here to take your money a.k.a fish you ever sit at a poker table you always know who the sucker is if you don't know the sucker is you so like when you sit at a poker table you know the bad players they call them fish well you guys are the fish when you do this nonsense so they started giving this kind of information to help the fish kind of compete so they can give their money did I just get filled in I did my usual that I do nonstop and I forget to cancel my orders so here's someone as I will go there in a second so this is key right now right nothing fired off in here this is from before so first and foremost you see why I have aggressive versus conservative entries I was not yes this is an important zone but I wasn't sure this was going to do that and here we are so if this is bullish this should hold for right I'm talking short term bullish should hold and move higher this has a chance this is why I wait to get in so right now I'm going to put this in here not getting in in the zone I'm waiting for it to come back out of the zone that's my confirmation 5.86 should be pretty much the same entry here entry is that's wrong strategy 3675 the same I could put on 4.41 I usually round up I'm going to round down because I really don't want to be long in this but I will because the volume is telling me to if this comes back out of the zone so that is the entry price that would be the conservative way I trade these zone ATR retest failure I'm in you don't see me get in right here I can't tell you how many we've seen in my trade room the last month you get a setup it moves the ATR and then it goes right through it that just tells you what the environment is as far as bullish bearish right that's why guys I learned this the hard way I used to get in and even in my course I talk about this is before drawing the zones and I wasn't using the zone I was using exponential it's still very relevant understanding the steps and so on and so forth but I you know things I've adapted over the last two years and I use it a little differently but I used to like as soon as it would move out of the mark out of the zone I would get in and I put my stop just below I learn the hard way that's not the best way to trade these right just like the best way to trade these isn't to wait it just pop in in the zone yeah it could hold and go but you're risking that so if I have a bearish viewpoint I'm going to wait and get in here yeah I got to risk another seven points I rather get in seven points then just jump in and take a loss right so I'm waiting for that so we're now I'm just going to wait if this blows through here I cannot take a short for me my strategy because this was able to push an ATR above here I don't take shorts because it showed enough strength to get an ATR above so meaning a short idea for the setup is done I will not take it a short in here until I get a new setup I will still take the long provided this doesn't get an ATR or an ATR below here or an ATR below here if this moves an ATR below here now it's holding and this is the pattern over and over and over and over and I know that because I've watched thousands and thousands of them so that's why I trade them the way I do yes I would love to put on trades I risk two points in the yes it's just not feasible most times if you don't want to get out of the trade all right let me draw this any questions want to draw in this stop running NASDAQ and we'll trade off this puppy too this is right go ahead Bruce yes there are some questions Scott so just quickly let me show this real quick okay so you can see where we're at here right so we get a volume of that real close we just talked about this it's the bottom of this one and it's the top of that one so this could hold for right now but I'm going to let so this I'm talking about so you're trading this you're like oh this looks like a really good area to go along I'm going to go along well yeah maybe you might be right but I enhance my chances if this setup turns to be bullish right that's what I'm going to draw go ahead Bruce so yeah just off of what you were just talking about seeing this over and over again Alex is asking what's the success rate of this strategy success rates for the for the ATR retest so I do have my trader and my traders I've been having big time problems with it going back and forth with these guys I do have here I've had a little bit of drama but I just I still stand behind this trader sink but I just had like you see I have not put a trade in because the thing was not it was reading my trades incorrectly so on and so forth so I shouldn't be have some solid stats for you right now I usually show this but it's just been I've had so many problems with this lately I would say the winning percent of that is probably I don't I don't it doesn't show winning between let's look what I have right here but see the problem is a lot of these trades this is what I'm going to be better at next year because a lot of these trades are I don't have it separated and I do have virtual assistant going in there adding in all my trades but I don't have stats of a aggressive entry meaning I enter in right outside his own versus that I would say just off the top of my head if I waiting for retest failure it's probably close to 70% would be my guess I don't have those stats I need to be better at it because this just shows me every trade that I've made and so many of these losers were being aggressive but I have I've gone through a you know since I'd say September pretty bad try don't let me get this off here I don't need to read that but anyway I got my this virtual assistant guy going in here and of course this isn't in here it's supposed to be in there so now he's going to get a verbal lashing today but he's going through all these trades and putting in all my charts so I don't have an exact answer for you on that just off the top of my head 70 plus percent but I need to start marking that actually I was for a while it's just so tedious with my room coming in here and putting in so watch let's see I don't have actually I did have some aggressive entries let's just see what that pops up I see I only have three trades in here this is aggressive entry I don't think I have I mean this thing it could be fabulous I just had so many problems with it with the rhythmic data I don't know what and I keep going back to them so I'm giving them one more chance to get this fixed if not I got to move on I just can't I want to show you guys information right now and it's just not accurate because it's not but these are all like these setups but I don't have the I don't have aggressive versus not aggressive so off the top of my head I'd say 70 percent it's definitely a safer trade right just by it's inherently safer right because it's moving out it's retesting it's not busting through and it's moving back out that inherently is telling you it's it's much more likely to work why do I even use aggressive entries well we've seen many times especially in crew lately you'll get a setup and the market just won't come back like this safer maybe this one right so if I'm waiting for a so that say this is an important zone which it was let's just look at this I should be aggressive right here and I'm missing this trade and I got a little bit but so say we move when I will be aggressive with my trades as if say the market pops up here comes into the zone and I get a sub and it just runs away from the zone I'll get in aggressively right because I know how important that zone is so on and so forth so the problem with waiting for ATR retest failure yes I'm much higher percentage trade sometimes you're not going to get the retest and you're sitting here beside yourself that you didn't take the long you knew it was going up and you waited for a retest right so that's where you have to use some that's where it gets subjective where you say for the stuff you're using if you're using these volume events and I didn't get still to get fill on this by the way this is why you guys are you watching the algos at play here this is why I put this where I put it because I'm not playing their game if and I just learn if the market is able to push outside of an ATR after a retest I have a much better chance and these algos just will snap it back snap it back how many traders just got lonely I got a screw scott man I'm gonna give them I'm gonna get along right here I'm gonna put my stop right here stopped stop stop stop that's why I do this doesn't mean I can't get stopped no but I just know if this market is able to push an ATR retest push outside of an ATR I have a very very good chance of this thing moving higher and that's why I put it where I do that's why I didn't right here so those long-winded response to know I don't have those stats but I'm gonna do a new year for aggressive versus retest and then everything else zones and then I'm we're working on I'm trying to make my room a lot more actionable for traders to so we're I'm gonna be doing a lot of these you can see here just get a quick example what we're doing in there so if you go in my room and then you go under playbooks right so when you come in here you get a couple of my playbooks and the template right so see if this works it should right so you get access to all the ones that I've done and then we've had I used to do playbook webinars where guys would get on and present theirs I'm probably gonna start that up again but I'm gonna have a good 5 to 10 solid playbooks accessible to my room because so much of what I've done I'm really bad at this and then if you want to be a great trader you need to do this right you need to do this is everything in this the bigger picture what dinner to intraday look like your technical analysis that would be like you know the structure in the zone and so on and so forth right then you need to take screenshots you can just imagine like this is a lot of work but you need to do this work if you want to compete with the brightest minds on the planet my point is this is you know I get I do my two webinars a day in my trade room and I'm doing all these other things this is just I gotta get better at this I know so I'm gonna make these 5 to 10 of these for my room I don't I want you guys to learn how to do this for yourself I don't want you mirroring my stuff I want you to be taking this information and building your own but I'm gonna have this much more actionable where you can have this information and then kind of build off of it right so that's playbooks are key and I because what I was trying to get at is I'm just I've been doing this for so long I can just know okay we're here we're here here I want to go long based on my thesis right instead of oh this is playbook a b c d but I'm gonna get better at that for the because I want I want the room to be more actionable of what I'm doing so people understand because I just assume people are always knowing what I'm because I do explain it you know very clearly in my opinion right like the zones and how I trade the volume events on and so forth but I need to have it more laid out for my traders and that's what I'm gonna be doing in the new year so alright next question first let's see here alright it looks like I'm about to get filled on this long I'm not very excited about that I was hoping that it would die but that's what it is Brandon not sure what you're asking get info on what I mean Scott has a course here I can I'll put it into the chat here so you can reach out to Scott directly so I think one second oh yeah Alejandro is asking actually on your worksheet there there was a 2 and 3 ATR strategy so that's that's that's proprietary proprietary to my trade room so you join my trade room you learn I go over this every day and explain this and we trade this all day long as well on top of the position trading this is way way more active so if you're the type of trader that needs I hate to say needs action especially the one ATR you're gonna be getting action but yeah this is proprietary I mean it's one of the perks of my room right like you know people pay to be in there for my knowledge and the way I trade and you know there's some things that are just for that you know for my trade room so I'm more than happy to share it just gotta be part of my trade room on these book map webinars I'm trading the position trading strategy one second we put the zone in so I think it filled in the AS 11,050 is your top of your zone here it's gonna be lovely if I'm along both these markets when I want to be when I want to go to zero but that might happen here 99 275 I mean 25 current ATR is very very important because this is telling me the volatility of right now 20.90 means it's basically in every five minutes it's rotating 21 points very important information where you know how to place your stops where to enter so you're not getting whipsawed so you're not getting algode so for this to move an ATR out of here to be a bullish setup I needed to see or need to see 21.50 or 11.20 11.021.50 hey look at that that was exact ATR who knew pretty close didn't quite get there missed it by two points so this is enough which is fine because I don't really feel like being on both these but that's my roles right so I this has to touch 11.21.50 for an official ATR and then I'm alone but this one did not so and that also means that my short is still on the table if this were to get an ATR above here then that the short is disqualified and I wait for a new setup but you'd be amazed this is what strategies that I have in my room the other strategy on how many times when it gets real close to one ATR or at an ATR it comes right back to the volume of it that's the whole idea behind that strategy so you guys see like this is what you deal with if you just are hopping in and out you're getting whipsawed to death right now that's why I put it outside of an ATR because I know how these markets trade any other questions Bruce let's see if I would have I missed a trade here I don't think I did I think we're all caught up here so this was I need to see 7801 which we've gotten to but did it get to there and retest no close but it did not so meaning this did retest the zone like they pretty much always do but it just didn't get a full ATR 7801 was a full ATR but it did retest and reject this market did not reject just randomly off of the zone because it knows this volume it then occurred the more you watch it you're just like oh this just happens not stop all day long in all these markets stop runs fires off almost 500 market moves away holds pretty much the exact tech so I tell you guys every week this is how I trade them from watching thousands you want to be aggressive and you're like you know what I'll go along here but I want to get in right at the bottom of the zone and I'm just going to risk just outside the zone or an ATR outside the zone fine you can do that this is the science the way I trade them is the art so if you want to change today I'd love to know it if you say Scott my win percentage is every time something fires off and moves out and then moves back in and I get it right at the bottom of the zone my win percentage is 78% I'd love to hear it see your results over a long series of trades not just a couple trades but you could have gotten in it's not a coincidence this market came right to where this ended moved out of here almost 30 techs 25 techs and then came back it's like magic isn't it? well that's why so anyway now this is an ATR now this is what I'm talking about what I'm risking I wanted to see ATR retest to go along this market may be gone and I was waiting for that I missed the trade so this is where you have to decide based on what you're looking at hey this is a great area I don't need to see retest I'm in right away and I'm going long right away versus I'm going to wait for that like I'm doing with the ES at that you may miss the trade so you have to be okay with it or you just say I'm waiting for retest on every trade every setup and if I don't get it I don't get it because it's also not just in this market it's not a coincidence this market is just bouncing around in this area this is where the traders were loaded up it's not a coincidence it held pretty much the exact tick here moved out so now we just wait I don't chase anything I know my prices the only thing you want to pay attention to is if the ATR is changing you got to change the price so the ATR is 5.19 when I put in that order it was at 5.86 so this is going to make a difference so watch this entry price change I get in at 36.75 well now since the ATR is shrinking because this is a terrible time of day to be trading this is where I was really each alive now I'm at 36 so that's 36 lower but I'll enter this trade based on the current volatility of the market and if I get filled now my stop price is probably 3 ticks higher I'm stopping out at 23 I could put on 5 now because the volatility is shrinking so now I will put on 5 again I'm not excited to be along these markets but if these markets were bearish right now you should be seeing bearish setups you shouldn't see this area hold so I'm a day trader I will go along I'm going to be very quick to be getting out meaning if we move into that into this zone I'm probably going to be out immediately a.k.a. a major lug so say this thing holds its zone it moves up to here I'm not messing around with it did we move into this zone I'm out just because I know this is very likely to do that I'm going to go into the shorts first because that's how these markets work if you know all that you're ready for it and then I also so I didn't really get into these yet these are the lug wig levels that we use I use Room I've been using them for almost 2 years now they are absolutely nutty incredible on how well they work for support and resistance especially when you get a volume event at these areas it's crazy and you can also come up with thesis react to the lugs so when you form new lugs the market should hold prior blue new yellow this one doesn't even sniff the yellow this is telling me that's going to happen on top of everything else you start to piece together all your thesis you come up with a thesis with your market profile you come up with a thesis with your lugs you come up with a thesis with your market structure if everything lines up you want to be trading that direction you could just eliminate the one side of your trade many traders and it's not a bad idea if you can be patient many traders just eliminate one side of their trade they say I am not taking lugs I don't care what happens I'm not taking lugs today that is not a bad way to trade most traders can't do that because they want to be involved in every single move but if you could do that you would be a much higher percentage trader it just amazes me how we get on these webinars and the markets just stop trading so this like I said did not get the full ATR above here so my short is still in play if I end up going shorter I'm going to wait for that because this looks like I should be aggressive we just talked about when you decide to be aggressive versus being conservative I'm just looking at this this looks like I do not want to be risking my volume of that but again I look at multiple things pretty simplistic but I do look at multiple things here we are we're at this important level so do I want to be aggressive out of that zone knowing this is prior composite multi-day composite there this high and then the low of this I don't want to be aggressive into that it doesn't mean I won't short it but I need to see ATR retest failure then I'll go short see what I'm saying there's times when you want to be aggressive so say we are down here so say we had the same look on that bar chart I just showed you and we're breaking out of this and here's the volume set up well yeah there I want to be aggressive see the difference so that's where it gets a little subjective in your trading now the ATR trade we're doing in my room it's pretty much mechanical so those of you that love to be mind numb and don't like to think for yourself mirror and blah blah blah which is I don't agree with it like I said but this is you just put your prices in and it's telling you exactly where you get in you get out where you exit that's it and you know there's really we have maybe one or two things that we look at to stay out of the trade other than that there's no I don't care where we're at on these charts it's a whole different type of trade so there's nothing wrong with that type of trading either right I mean you may not like position trading you may like that type of trade but it's a more of a scalp trade that's fine too and I'm actually meeting with Bruce after this webinar to learn this little more this Trader Mat Pro because remember last week or I think it was last week we couldn't get it working correctly so once I get that down I have literally like 30 different strategies that I'm going to start to introduce to my room that have been rolling around in my mind for a long time and I know especially Bruce is so giddy about this thing I know I'll be able to find some edge in this as well for different types of trades right it doesn't have to all be all I show on these webinars is the one position trade but we're doing another trade in the room and there's going to be way more behind that where you can be engaged in these markets pretty much at all times but right now on these webinars I'm just showing this what was this here by the way that was not threshold but this was a sweep aka swipe 63 that's not that many but it's good to know so all sweeps are all stops are sweeps but not all sweeps are stops sometimes you'll see sweeps and then there's no stop run you want to pay attention to them especially if it gets this is one of the global plus this is the sweeps indicator especially if you see the other day we saw like 1400 sweeps in NASDAQ that is where you can literally draw that's a volume of that as well right you can draw that zone and play just like we play the SI indicator zones because these are traders getting run over or taking a shot and then being wrong it's the same stuff over and over it's about trying to take advantage of where traders are caught that's what we're doing that's what I do that's what I've always done and I know how to do that because I know how I used to react when I was a big trader and I was caught how other traders would react when they were caught because you can see you're trading back trading against back then which I tell you this all stuff I've talked about before but I know there's new guys on here alright so it's 930 isn't your other guy getting on here Bruce? yes yes Tom B is up next guys so if you want to continue the education of a volume profile trader and great stuff Scott I think the clarity on you're setup and waiting for it in the patience here you see this every week you're looking for something very specific and I hope others see and understand that that can resonate this is something that we've seen a theme many many times over so you can see the patience that Scott has here you have to be patient you have to come up with your own system and be patient and have your rules and follow your rules right my rules are I trade these a certain way and I'm waiting if this doesn't and this breaks down I'm waiting for a new setup on to the next one so you can see I didn't just jump in here if you did you're being tortured you're being really fun even if I get filled doesn't mean this isn't going to happen but I'm forcing this market to push outside of an ATR for me to get in this trade if not they can do this for four hours I don't care that's the whole key you have to have a system you have to have rules you have to have an edge and I'm showing you the edge how you develop it is up to you and then you wait and you employ it and over a series of trade if you have a legitimate edge you will make money I can promise you if all you do if you're new you get the SI indicator and all you do is wait for ATR retest failure and take the trade put your stop outside of an ATR the other side over a series of trades you'll 100% be profitable I'll put my name on that right I did it again I did it last for a full month last year and you can enhance that by finding important areas but this is the edge there's no bigger edge in futures trading than understanding these areas where traders are loaded up or what direction they're trying to get this thing to go this is it guys if you understand how to trade them and the best way to trade them you just have to follow your rules and you will make money alright that's all I got no trades again today it is what it is I wish I could put on 10 trades for you guys but if I'm not seeing what I want to see I don't force trades I don't trade for action if I want action I'll bring up a horse race and bet some golf stream this is not action I make a living off of this I've got to follow my rules and if I'm not seeing what I want to see I don't trade this is about to die oh for help off I'm watching what's the price where I will short I said I need for this zone we never got the ATR above so this short is still effective that's a new setup but I was going to say really surprising we took out both these bands of liquidity so that's the one we didn't talk about when you're coming up with your thesis for the day you want to see where all the liquidity is you see it's like black hole up here liquidity is down here these guys are going to get filled why? because they'll make themselves get filled because they'll push the market into their orders that's the game I used to play all day every day so that's how I know what they're doing so when you're looking at this find your liquidity levels as well not this liquidity these are algos I'm talking liquidity that's been in here for a long period of time so I'm going to draw that zone I'll trade off of that this was looking you had buy eyes you had sell stops it couldn't push lower did I just jump in? no and I just saved myself a losing trade because of my process now I'm just waiting for something new you got a spot gamma level here I'm going to hop off but quickly let's just take a look at the hero so you guys can get this obviously spot gamma if you get this real time hero there's a go to my website there's discounts to everything that I use for this you get an extra three week of trial instead of one week you get two but this is important to watch what these options the short term options are doing I have this set up I don't know why this keeps changing so this is today's exploration and we talked about this last webinar this when you see straight lines he talks about this all the time that is big money what the heck just happened there why did that just change like that that must have just come in what's the time on this that just came in so this was what I was showing you now this is even bigger these are the games that are being played now where these big players will load up the options dealers because they know the options dealers have to hedge so all you really need to know if it's going up it's bullish if it's going down it's bearish somebody just swiped a bunch of options now what we've been seeing too in my room we've been talking about it all the time it's happened many times lately where you'll then see so they'll load up the options think about how easy this would be to manipulate the market so I talked about it last week like I said they'll load up you saw that move that means they're buying deltas whatever selling puts or buying calls well the dealer's on the other side of that so the dealer is selling them the dealer has to hedge themselves the dealers don't screw around they don't say maybe we'll go down maybe if you can manipulate this market you buy a boatload of options deltas, bullish and then you come in and swipe the market these dealers have to chase to hedge so that looks like that's exactly what's going to happen right here so more information important information for you I don't want to get into that I've got to get off now but that's something you want to watch options players are a huge player in these markets because they have to hedge their options positions so it would behoove you to understand what's going on in there as well we talk about that in my room there's actually a couple people that took his course his most recent boot camp and they know a lot more than I do I try to keep it simple I'm using these as support and resistance but when you see quickly I don't have to get off here when you see that move add an important area that that move meaning that options move I just showed you add an important this may just hold right now right so I know that information now if I get a new setup I'm going to have to leave an ATR below here no so this is still alive for my long list just one more check before I hop off here make sure the ATR is correct to figure out if I'm still going to go on at that price it's actually 5.56 no an ATR below there that would be 23.25 and yes we did hey that's not a coincidence I'll show you real close let's see there you go that's not a coincidence guys that's why we have the strategy right there that's one ATR right back so my point is it got an ATR below that volume event that we've been looking at for the last hour and a half so now this isn't disqualified as long I have to wait for a new setup alright I'm done Bruce I'm done no trades again sorry but get ready for Armageddon get ready for the Grinch to steal all your Christmas presents if you're long sounds sounds wonderful Merry Christmas Merry Christmas okay well sounds great Scott are you going to be here next Thursday yeah I'm here the rest of the year okay I don't know how good a trade is going to be next week but I'll be here now that I'm doing anything anyway on these I think this is like the third webinar I haven't really put a trade on it is what it is I can't make the markets trade you put a trade on last week it was just at the end there and it was an excellent trade it worked out it was unbelievable I don't think I ever lost actually I don't think I ever put on a losing trade before I mean that you captured a huge move to the downside that's where that first break took place in that higher time frame but yeah it was it was beautiful seems like it was like six months ago exactly exactly well thanks so much Scott we'll see you next Thursday then I appreciate it everyone have a Merry Christmas and I do this twice a day in my trade room if you want to come by and get tortured like this most days I'll see you guys next week alright thanks Scott thanks