 Good morning traders and welcome to the book map pro trader webinar today with Gary Norden Gary is going to go over analyzing your trading statistics within book map He's done a webinar series with us previously called mastering the dome If you're interested in that you can find that on our YouTube channel under the playlist of mastering the dome Let's give a little bit of background on Gary and his trader biography He is the founder of the Norden method Gary has been a professional trader for over 30 years Including several years in the trading pits of the life exchange as well as a senior trader at some of the world's largest Investment banks. He is a co-owner of NN squared capital and creator of the Norden method a unique style of trading order flow Gary is the author of an end-to-the-bowl and technical analysis exposed. Why most technical analysis traders lose? If you want to reach out to Gary, we have his contact information here. He has two different websites The Norden method comm as well as Gary Gary Norden comm I'll be pasting these into the chat if you're interested so you can click directly on the links Let's go over the disclosures and then we'll turn it over to Gary 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 risk disclosure trading futures equities and digital currencies Involve substantial risk of loss and is not suitable for all investors past performance is not necessarily indicative of future results Gary, please take it away Okay, so this webinar is about using trading stats to improve your trading So I want to come up and talk about a number of key points I guess, you know in a way conjunction with the fact that book map of you know recently recently Launched their trade analysis tool. So if we just move on to the next slide the usual this claim is Keep that for a couple of seconds and then we can move. All right So the question is do you analyze your stats and I must say to me As a professional trader with my with my background this would this question wouldn't normally be asked But it's apparent to me that There's a lot of retail traders that that actually don't analyze their stats And even the some that do don't analyze them in in near enough the enough detail Some platform some traders only want some basic details and basic features some Some don't look at a tool Bruce and I were talking off a beforehand about you know some tools that have been developed and that sort of no one wants to use them And which is I find baffling If you do analyze your stats, how often do you do it and how do you do it? and so this webinar is going to talk about how how I would do it how we do it with an order method and Just to put forward some ideas that will help you to analyze your trading steps and to explain to you How and why you should be doing it? But certainly I think that in the retail industry there's a lot of traders that don't do it and probably don't know how to do it So book map trade analyzer tool. Is it got a flash name Bruce or do you just call it a trade analyzer? I think it's just called trade analyzer right now. Okay. Yeah, okay So it's a relatively new feature for book map users It has a range of different information and I'll you know, I'll get to in a second about which ones you can use But certainly if you're not using it when you're trading You really should and that's what I want to talk to you about how this is such an important tool to help your trading So some key points about analyzing data. First thing you have to know is you have you need to know what you're looking for and I think that When a lot of traders Retail traders those that want to look at stats don't look at things like, you know They're profit and losses and we'll talk about resulting soon in this in this webinar but Actually to understand what you're looking for when you're analyzing your trade stats requires, you know Quite a deep understanding of the method you are trading This is quite important different trading styles are going to show sometimes different types of stats and Some different stats might be more important and and doing certain Well in certain areas might be more important for some styles and others So you'll need to know what metrics should you be scoring high end? And this is something when you're learning to trade whoever you learn from these are questions that you need to ask You need to understand how do I know whether I'm performing well? And it's as we'll talk in a second It's not just your P&L on any given day or any given trade is not always a great Indicator that something was a good trade or a good example of the style that you're doing So for example the northern method my students send me videos which you know I narrate and I put up for others to see and I sometimes There'll be trades which are profitable But there's certain metrics about them that mean they are not Proper northern method trades. They may be profitable, but they're not what I want to see And I will go through why and what and how that will be shown So you need to understand with whatever style of trading you're doing what metric should you be scoring highly in? Again, these these is deep understanding of the method that you're using What metrics will show you that you are trading well or that you are trading poorly Do you know that and by asking that question for those, you know, even those of you that are using stats One of the things about this is it opens up That question of how deeply do you understand the style that you're using, you know And there may be many traders that can't answer that question. What metrics will show you That your trading is good or bad on a day outside of P and L As I said, we'll get to P and L in a second But what mentions will show you and if you don't know then that's a really interesting question that you need to then go And research and you need to find out for your style So for me and with my students, you know, I'll tell them exactly what how they should be looking If they're doing it properly and and if they're not doing it properly as we'll get on will there'll be certain red flags It will show them that they're not It's also really important after that that you are able to respond to the feedback you're getting one of the reasons Why you know this trade analytics is so important is you're getting live-time feedback on your training and If you can respond to that Lifetime it's it's massive, you know again a key part of what I try to teach people is You know this thing happens to you or this particular metric is showing something This is how you need to respond to it. This is how you you respond to it So and it's really important you are able to do that I think maybe it's having my previous webinars. I've talked about you know compared like the golf You know, you need to know if you're hooking a golf ball. You need to know What it means to hook a golf ball what it looks like right and you need to know how to correct it Okay, and same in training if you're doing something wrong, you need to know what it is You're doing wrong how that appears in your stats and Then of course the next stage is how to correct it and the next stage after that is to actually go and correct it You know, which is another point in itself if you can't You don't know how to adapt your trading based on the trade data You're getting the analysis that you're getting and really again You don't know enough about the trading method and looking at the data alone is not going to help you Okay, so again for many traders, they may go away from this and think you know what? I don't know my style and enough depth that I could ask that question Okay, but for some people it's like oh, yeah positive P&L means I'm doing well negative P&L means I'm doing badly I'll get on to that in a minute, but it's more it's you need to know more than that and there's a range of information that can be important there So with the data we get as we're trading You know during any given day and I'm again, it's worth for different time frames But I'm focusing more on intraday trading because that's what most futures traders are doing You know, I'm focused more on futures for here So it requires constant re-evaluation You should ideally constantly be evaluating your trading stats and re-evaluating your trading anybody You know any of you to trade during the trading day know that the trading day changes right that the open is Has one level of volatility and an action midway through the day it changes and perhaps all the end of the day It might change again So your trading stats are probably going to change During that day and again, we're not just talking about P&L We're talking about all the very bits of information that could occur Okay, and there's a there's For for us there there might be you know, I don't know in minimum half a dozen but up towards a dozen different pieces of information In our trade analysis our trade data that might tell us something that is important Enduring the day it might change which one's more important or which one's changing and you need to be alive to that so Constantly re-evaluating, you know, and this is how we continually improve and make sure that we are changing as the market conditions are changing Rather than just set something up at the beginning of the day and just monitor at the end There are a lot of people that just look at their trading stats at the end of the day All right, now that's one type of trade analysis Okay, and I'm not really covering that too much today But that is one kind of trade analysis at the end of the day see how you did right that's one thing but what I'm really pushing for here in this webinar is to say to you Can you do it during the day because then your your trading is going to improve along the way? You're going to constantly re-evaluate what you're doing. You're going to constantly improve That's how I teach my students and so that you know, we are trade We are re-evaluating lifetime So that we don't get to the end of the day and go all that that was bad or that was bad Or I could have changed that we're trying to do it intraday at the end of the day That's a different start of trade analysis, right? And again, you're going to now analyze at the end of the day But your end of the day analysis is going to be easier and your trading stats will be better if you're doing the intraday analysis after every trade and Every time you're getting a new trade, you know, and that next line is filled on your trade analyzer or is updated You're getting new information Okay, you're getting new feedback about what you're doing. Can you respond to it? And it might be small adjustments, but every time you can make a small adjustment every time you see something Then that's going to be vital to you That's going to that could be important And that's really what I encourage with my students to constantly be responding to feedback constantly making these small changes Sometimes there might be a few things you can change. So, you know without style We might see a certain stat that's that's not what we want and there may be two or three ways of fixing that And so it might take two or three attempts to make the correct adjustment Okay, it's simply go back to the golf if you're hooking a golf ball There could be three or four things one might could be stance could be grip could be, you know A hand action, it could be, you know, a few things it might take you two or three Shots to correct the right one. Okay, but you should be able to do that If you have a good understanding of the trading method you're doing You should be able to make that adjustment and then your trading is basically constant adjustments So coming back to the book black box thinking By Matthew Syed, which I really like I You know tell my students to read it So Syed shows, you know, many successful entrepreneurs sports teams, etc And and shows that they apply this method of constant minor adjustments. In fact, one of the examples he uses is Formula 1 racing team the Mercedes Formula 1 racing team and literally every small little bit of information that's coming back to the engineers During the sessions or during the practice or whatever it is They respond to and a minor adjustment they keep saying they they are just constantly making Minor adjustments and I think a lot of traders think, you know, that the trading will improve is some major Eureka moment. It's not likely to be that way It's likely to be a succession of minor adjustments. And so responding to feedback is a crucial element It's one thing to get the data. It's another thing to respond to it If the Mercedes engineers were getting this data and not responding to it, they're not doing their job So getting the data is one thing responding to it's another But this is how as Syed showed many of the top people out there, you know, and I think, you know, Dyson the vacuum cleaner man Is another one of his, you know, that he he talks about because, you know, the Dyson vacuum cleaner wasn't just built overnight There were just thousands and thousands of small changes and adjustments as things didn't work over a period of time It's never just going to become what you know, what you see now Um, so responding to feedback is crucial And you should be looking at this in terms of minor adjustments small adjustments and continually making them Intra day and then at the end of day, like I say, it's a different matter again But you'll analyze things and you'll have some other changes to make potentially as well Personally, um, if I don't know why I've made or lost money or I can't figure out how to improve Um, then I'm not really, you know That I find that it's a real problem for me, right? And I may not continue with that particular style of trade So if I'm doing a new style of trade or something that I think is a bit more interesting or Um, I've gotten to a different market and I just want to give something a go If I don't know why something happened and I can't figure it out. I can't figure out the adjustment I don't like it, right? I'm not going to continue and an example from from my history is uh, I A few years ago, I tried to I wanted to apply the northern method to to crude oil futures I thought it would be a market that it would work quite well And I've never traded crude oil futures before I'm generally a financial man Uh in equity indices are generally the bread and butter Um, and and what I found when I traded crude oil going through my status on a p&l basis I was fine, you know on a p&l basis actually, you know, probably outperforming Some of my days on equity indices Um in terms of percentage win rates and all that I again was hitting the similar numbers that I would hit normally So on the face of it people a lot of people would say Well, you're making more money. You're hitting the same percentage win rate. Everything's cool This was over perhaps a two three four week period um But to me there were some trades in there that um that I would lose on and I had absolutely no idea what happened Absolutely no idea how could I improve it? Um, what happened? There was nothing at all um To me when I was trading it I couldn't figure it out Um, and that would always to me that that's a a red flag to me, right? I'm like what if that happens now over three or four weeks? What could happen is I might get hit with a number of those one day So despite the fact over that period I thought it's fine There were some red flags in there and some some certain data that was um and certain trades Where it just didn't make sense to me. So for me, that's that's that's that's out straight away That would be out even despite the p&l. As I said, we'll get to p&l in a minute It doesn't mean I'm aiming for a hundred percent win rate, right? Of course not every trade every style will have weaknesses and sometimes after you trigger a trade Unfortunately, the thing that's your weakness for your trade will happen, right? And you're going to lose I mean, we're not we're not saying you're going to aim for a hundred percent Um But but if I lose I will usually know why you know, okay, this happened. Yeah, okay That's a weakness for this trade or that that's you know, that's that's always going to hurt me So therefore, uh, I know I've lost and know why I've lost and if it happens a few times I'll make those adjustments if it's just a one-off. Um, you know, I'll still be looking to be prepared Um, but the key thing is can I respond to that data? Can I respond to that feedback? Do I understand my starting enough depth that I can do that? Checklists can be really important and very useful. Um, I think it was in the Daniel Karnan's book noise He talks about checklist being a really good tool to overcome And poor decision making so the book noise is all about how people make bad decisions And it's very applicable to trading by the way. It's I'm sure many of you have read it already um, but checklists are a really good way of um Being able to to basically before, you know, before you make decisions Um, you have this checklist of okay, what needs to happen what I need to see and how I need to respond So again with an automatic we have like certain checklists so that my traders after a trade can go through it and work out Did this happen? Did this happen? Did this happen? Um, and it helps in decision making. It's one of the key points, you know in noise if you want to make better decisions have checklists um, and They can you know, tell you what adjustments that you need to make And it's prepared in advance as well So you're not on the fly trying to figure this out You know and again if you know you're starting enough depth that you know that these things can happen What should you be looking for? What changes do you need to to make and when to stop what red flag should you look out for? That's always important as a trader. All right. When should you just stop? um, you know, I keep I think I've said this before somewhere other way over and I'll see you but something I've always saying to my um, students is You know knowing when to stay out Is probably the most important thing as a trader. It's going to Probably must determine your longevity in this business. Do you know when to stay out? And so again, your trading stats can tell you that not just your p&l You know your p&l is one thing, but your trading stats can tell you there's something odd here or there's something not good that Um, perhaps it's not right for you and not right for your style and I need to stay out So I spoke about results. So for a lot of traders, and I've seen there's so much out there With certain trading coaches and people talk about trades in terms of p&l. Okay Uh trade that's made money as a good trade trader loses money as a bad trade. That's just simply not true Okay, you can do stupid things and make money in this business You can make a very good trade and still lose because something happened and anybody that plays poker would understand this as well Uh, you know, that's another Pursuit that I like, you know, you can You know, if let's say you you could in a no-limit holding game of poker You could be a 95 percent You know chance of winning a hand you get all your money and your opponent does so you basically got 95 chance of winning Based on the cards that are out You've got a 50, you know and he's giving you essentially 50 50 on that, right? Well, of course It's a great trade, but then on the last card the 5% chance might come up So you lose everything does it mean it was a bad decision? To put your money. No, it was a great decision You got 50 50 odds on something that was that you're a 95 percent chance of winning, you know It's it's great. He's giving you money. So it was a good trade. It was a good decision It was just unlucky on the end and this is comes as well if you've read annie jukes book Um about you know a decision making she's written a number of books for that thinking in bets is perhaps the most famous But she talks about resulting resulting is something that is essentially when you judge the Whether or not something was good by the result Okay, so you say I made money on this trade. It was a good trade And that's just that that can lead to all decision making um And it's one reason why you must know what is required for your method But at least must have a baseline out there. This is what it needs to be Otherwise, how do you know whether the results you're getting are? Are good or bad? All right, so you need a baseline out there of what you should be expecting and therefore, you know That will help you to get away from resulting. But you know, I see as well I spoke so I said that before that My my students send me in their trading videos I go through the minor eight and I post them for everybody else to to to learn from and you know There'll be a number of times that you know, I'll see a trade and it will make money and I'll and I want to rate it and say I don't like this trade. It's not a good trade And then they'll do it again and and obviously because they perhaps they made money on it They think that's that type of trade was a good one do it again They make a little bit as well. Maybe they make two or three ticks. They make two or three ticks Then they do it again. They lose 10 And as I say like the thing is it was always a bad trade It was always a bad trade. Unfortunately, they had a couple winners doing that Which made them more confident over confident that it was a good trade Okay, now this is generally for my newer students who are still sort of learning the process Once, you know for my more experienced traders, they know that, you know, if they did something and even if it made money They'll say that wasn't a good trade. I know it and they'll Um, and they'll know what stats in there tell them it wasn't a good trade And they'll know exactly what it was about it and for newer students initially That's one of the things that they'll you know, they're trying to learn is they just see the p&l And you know one of my jobs is to explain to them and to make sure they understand all the data around So that they just don't make a decision based on p&l. You can make Bad trades bad decisions and get lucky and make money. Okay, particularly and you know the way it is in a more volatile market Sometimes the volatility itself is just going to going to help you out. So resulting I think there's a lot of traders out there Who when they think about trading stats, they'll go away and say, oh, my winners look like this My losers look like this or this is, you know, this trade made me money. Therefore, it's a good trade No, and I've seen that a ton of times with certain, you know, well-known trading coaches, you know in social media Oh, you know my student today, you know, he was down 10 grand and he managed, you know Managed to turn it around and he made 50 bucks You know, well done, you know, and I'm just sitting again. Oh, I'm not quite sure that's a good trade But you know, we all have different ideas maybe in that style. That is a good trade But you know, I would doubt that right but a lot of people just base the trade on on p&l And you really need to know more than that and again that to me I'm always on the lookout for, you know, who's a real professional and who's not and you know I can tell by the way they talk about trades if people talk about Trade with winning p&l equals good trade with losing p&l always equals bad. That's a very amateur approach Exactly the same as I said in a in a poker game. Just because you lost money on a hand doesn't mean you did the wrong thing It's not that's life's not like that. Sometimes I've seen bad trades Make money um So that's you know, something to to understand and I think that's one of the most common mistakes of people that Do look at trade data is that they'll just look at it in terms of p&l And as I said, you need to have a much deeper understanding of your trading method Than just look at p&l. It's one thing, you know, and of course, you know over time It's still you obviously still want to make money and you still want to look at what good trades are doing But understand that some positive p&l trades are not necessarily good So the more depth that you can go into the better Is you know number of columns on the the trade analyzer the more depth you can go into on your trading And you know that coming just away from just you know the p&l The more depth you understand your method and what it should look like The better the open-minded about which data can help you As I said, there's a lot of different columns, you know, and there's more, you know There's a whole ton of information that we can use When we're trading To look at so be open-minded about what it is what data it is that might help you To work out what's good and what's bad and what needs to be changed Be specific, you know, be one for being specific, you know, like exactly what happened here Exactly what might need to be adjusted And build up a profile over time Particularly if you're not sure exactly what your data should look like Okay, so build up over time build up and keep looking at it and keep coming at it from different angles Slicing and dicing the data that you have To try and build up a really good profile of your method and again, I'll come back to the start of this and say, you know Going to whoever teaches you and say, okay What should the data look like, you know, go, you know pick out six or seven or eight different columns That are in there and say what should this column look like what should this column look like And anybody that has a style of trading should know what each of those columns should look like What it what it means when it's good what it means when it's bad It can be different for different styles. Some some people have different tolerances Um for certain risks and others Um, but but understand what it is for yours and go to whoever teaches you and find and ask them What what does this column? What should it look like? What's a good trader? What would it look like if I was good? What would it look like if I was bad or if there's a red flag? Try to understand the context Behind the stats By this what I'm getting at is um You know understand how your stats and your you know can change in different market conditions You know so as I said before like during the day There's you know, there's the open is a lot busier than the mid-morning and then the close is different again to understand over time again build up this The database this knowledge base of your of your style how it looks Um, and again learn how it might change in different conditions How would this particular column look on a high volatile day on a low volatile day? Again get built some baselines up so that when you you face with a change in market conditions You understand how your method will look now and therefore you should know What changes you need to make that's that's the whole point You'll want to know what my method should look like so I know what changes I need to make all this goes hand at hand Um, and this is such huge information to you uh, Bruce and I again spoke before about you know People want indicators a lot and they do retail traders want indicators But this information the trades you have the feedback you're getting is so crucial Is so crucial that you know if you can use it and use it well You you will improve yourself and that's that that's the beauty of it if you understand your style You will be able to improve yourself As you're trading So this context as well will help you to refine your analysis as you know, okay, it's quiet day This is what it should look like. It's a busy. It's a more volatile day. This is what it looks like It's a lower liquidity day. This is what it looks like. Etc. Etc Um, all of these things you should build up and all of this, you know, will help you to with your trading So it's a few slides coming up. We're going to talk about Amount of data Anybody that works in data knows right and I'm not a data expert But anybody in works in this industry or data knows that The more data you have You know, generally the better right you can make larger samples are Are more helpful to us than small samples So this again points towards the benefits of higher frequency forms of trading The more you trade the more data you have The more data you have the more you can respond to that feedback the more you can find this out quicker Right, if I'm trading once a day Okay, it's going to be much slower for me to build up All this information Because I'm getting one piece of data that obviously So the more data you have the better judgments you can make the quicker you can build a profile So this gets to Something that It gets discussed a lot about trading. All right, so You know People talk about or maybe you may know that Norda method has A target of quite a higher win rate Which is actually quite typical of a more market making style generally But how often have you heard that, you know, you know, this particular trader only has a win rate of 53% And and that's fine. You can win you hear that a lot around right you hear that a lot in retail social media fin to it Oh, yeah, so, you know win rates are not important. You can you know, you can make a lot of money with low win rates um I'll bet that most of the times that You hear that about certain so-and-sows winning with you know making money with 52 53% win rates That traders probably um I say hi, it's a high profile, but uh, I think actually the word I was looking for that I think I made a type over in there Is a high frequency trader? You know, most of the time that person is going to be high frequency. There's a very big difference If you are high frequency on low frequency trading Lowest percentage win rates Can have a high number of losses and longer losing streaks, right? But they're easier to accept if you're trading a thousand ten thousand, you know, a hundred thousand trades a day Because the losing streak could end in minutes um, so Where you look at like the the high frequency firms and some of them will have lower win rates Some of them will and some styles they are always to improve it. Everybody is of course. We are everybody's looking to improve their style but Trading tens of thousands of times You know, you may have a you know, a whole A loss is right, but that might be over in minutes whereas If you trade just a few times a day, this is where some of these things just don't rely Retail traders. Okay, it's different if you're a high frequency if you trade only a few times a day Not only is your data less Asked because you don't have much of it But your streaks can last for all weeks And I saw this a lot when I when I was researching technical analysis for my original book Um, which is now now we release it technical analysis expert Saw it because a lot of technical analysis indicators or you know towards they're not triggered a lot So let's say for example one of the studies I saw was on the head and shoulders pattern You know, you hit lots of them, right? They're not triggered every week or every day Okay, there's something to build over time in a contract. So I saw Are a successful, you know, it's something that showed that the head and shoulders Pattern was successful over like about a 30 year period. I think it was but there's not a there wasn't a lot of them but This successful pattern had a 10 year period where it didn't make any money Okay, because there's not lots of them, right? It's low frequency had 10 years now my my Come back to the the author of the study was I think most traders would have given up on it Within 10 years if they've been losing money for 10 years, all right So the idea that over 30 years it may yeah, you had to have got through 10 years of not making anything with it So I really doubt that okay, and in fact in subsequent that that um, author did a follow-up study on on the head and shoulders pattern and found it to be, you know, basically 50 50 and and you know It was possible quite which is what, you know I would really expect from from most of those sorts of patterns but the key thing is that if If you're not trading much and you're not getting, you know, so the head and shoulders pattern is another classic example You're not going to give you many trades You can have a run of you know, if you have a low percentage ring rate 50 something percent around 52 53 percent you can have a string of losses a whole bunch of them And if you only trade two or three times a day you may have weeks You know before it turns around And you make money well by that stage you may have used up your account You may have you know drawn down your account substantially and therefore not be in a in a place Whereas if you're a high frequency trader that might that streak might be over in in a few minutes Because you're trading thousands of times a day or tens or hundreds of thousands of times a day So I saw it a lot with successful supposedly successful indicators that have relatively low Percentage ring rates. They have like months and years of not making any money I think that that's just you know, you can't trade like that. You're just going to be knocked out of the business So just understand that when you're looking at percentage ring rates If you have lower ring rates And they are low frequency You know, you are going to have some real struggles out there You really are so this idea of are you can have a 53 percent win rate and make money If it's if it's a low frequency type of trading, which for many retail traders, they're You know technical ones in particular. They are they're not going to be trading much once twice a day Just understand, you know, like anything with a small amount of data It's not that great for you and you can have long periods of not making money So again, that's why I've said this before most professional traders will try to find methods of trading with high frequency There's so much power behind high frequency. I've explained some of that in the past So again, try to understand what the stats really mean for you So when someone says to you are this method, you know, there's traders out there that make money with 53 min rates Yes, they are they probably higher frequency. So if you're not a high frequency trader Or you're not trading, you know, 50 100 times a day even which is not high frequency by the hft But by a general standards, it's higher than most If you're trading once two three times a day Understand what that means to you and will understand what lower percentage win rates could mean to your style So to start sum up And again, I'm really looking at this data from an intraday basis. Okay So how you respond to it because that's where the power of this is you're getting this feedback So the first thing is you need to understand your method in enough depth That you know what the data should show What should it look like? Um Otherwise, you're just throwing darts in the dark basic, right? You're seeing this information. Oh, I'll try and improve this Or I'll try and what is that what is that what it should work with your method And if you don't know it, then that's a you know, that's something to go back with right and say, okay I now know I don't know my method in enough detail That's a could be a eureka moment for some because in that sense you now know you've got to go down and jog down Some more find out some more and and that's you know, I would want to know Everything about what's the weaknesses of what I'm doing? What's the strength of what I'm doing? How does it look in the good markets? How does it look when it's going badly? Marginal improvements, you know intraday basis is likely Going to be the way to go You know, there may be some moments of bigger steps. There may be some are half type moments But generally it's going to be small Marginal increases and you know improvements that just continually just make small adjustments Be very careful of resulting so be very careful of just saying Trade that makes money is good trade trade that loses money is bad trade Okay, if that's all you do Um You're going to make some mistakes along the way and you're going to get you know There will be times you get whacked and you're just going to see you won't you won't see what's really happening You're just seeing the pnl Um, you know, it's you know, there's a whole ton of trades out there You know, some people would classify as poor trades that that could make money You could sell, you know, quick options for one cent out there every day of the week You know, I'd argue it's not potentially a good trade But you know your pnl could be positive for weeks, right? And it could be until it's not Um, pnl is not really telling you what the weaknesses and strengths of that trade are Even though you're picking up a cent every day I understand that, you know, one of the weaknesses what what could show that there's a weakness Yeah, so, um, again, it needs you to understand in depth what you're doing Um As I said, there's there's lots of different data points, right? We could look at be open-minded about all of them on on that screen that we showed at the start and in your trade Analyzer, there's a whole ton of different information in there be open-minded understand what each one Um means for you Um Anything where you're trying to use data To help your trading will be less use less reliability if you have a low frequency trading style You're just not going to gather much information. You're going to take you a lot longer It's going to take you a lot longer to figure out what your baselines are and what's good or what's bad Um, and in my ability that that uh The use and response to data is another significant reason to use a higher frequency style of trading Um, you're just getting so much feedback A constantly feedback that you you know, you should be able to improve and I've seen this before um When I think about my trading career and how it started Um because of the the type of trading I was a market maker in the japanese equity warrant market in 1990 when the japanese market was crashing um, so One of the reasons why I put, you know My learning curve up there. How did I you know? Improve I'm trading two three hundred times a day in that market So I'm doing, you know, maybe a thousand trades a week A thousand trades a week 50,000 trades a year in my first year of trading So think about how much Feedback I got to respond to Now imagine if I traded four times a day 20 times a week Maybe a hundred, you know, or less a month Um thousand trades a year. It's a massive difference massive difference Um, you know, I have Years and years and years worth of experience Over a normal retail trader in my first year alone just on the trades I did So the amount of feedback I got was huge the question then really becomes Can you respond to it? All right. Well, that's, you know, that's then that's a personal thing But that's a massive reason why I put, you know, my learning curve as I obviously I was able to respond to that feedback as well Um, but that ability to have You know hundreds of trades a day. I'm getting so much feedback But if I can respond to it if I understand what's good or what's bad and I can respond to what I'm doing Then I've got a massive advantage over someone that's trading for four times a day five times a day Um, and again, you know, it wasn't something I really thought about too much until I started to get more into the idea of frequency and I'm looking at retail traders and thinking how much experience are they getting And it comes down to how we took about that hours, right? 10,000 hours that kind of thing. Well, you know, I've said, you know, I would put trading more as 10,000 trades rather than 10,000 hours If you spend 10 hours behind your screen and do two trades You're not really getting enough feedback You may be doing a lot of time behind the screen, but you're not getting enough feedback To improve Whereas if I spend eight hours behind the screen and do 50 trades, I'm getting a ton more feedback. So Feedback is really important. That's really the essence of this This discussion Feedback is really important the more trades you do the better and use that feedback to improve It's one of the most important pieces of information you're going to keep getting You know, people are always looking outside and for other things and you know, what can help me Look at your own stats. They're a huge source source of information And if you have the ability to understand what you're doing and improve it It's going to improve your trading dramatically I'm happy to take some questions, uh, bruce Okay, uh, yeah Let's see here Um Questions at the moment. I have a ton actually for you gary. Uh, so While we wait for for some other questions. Um, uh, so Really really great stuff and it kind of overlaps with some of the other things that you'd talked about in previous webinars I put the link in there to Gary's playlist on our youtube channel Uh, he talks about the oda loop and feedback loop And this relates to a lot of what you're talking about here as well um, however, like You know, there's kind of a chicken and egg uh relationship here I mean, you know, let's suppose that I mean one of the great ways to go is just get mentored by somebody and have them Teach you a method Like your your Norden method go with that And then you will learn what's right and what's wrong Um, however, if you're starting off on your own, I mean, how do you do this? Yeah, I mean it's a good question. So if you're starting on your own you You're going to obviously you're going to want the first thing is you're going to try and choose a starter of trading Do you want to trade in the short term? Like maybe hold trades for a few seconds or do you want to try and Swing trade and try and hold trades for half a day or for longer That decision in itself is going to you know mean that your stats are going to look a bit different um And then over time as I said, it's always harder when you do it that way, right? I mean, um, I'm never saying I'm completely self-taught. I've had great mentors over the years as well And then had to try to work things out. So that's unfortunate if you do it on your own You're going to need to work some of those things out Um, and initially you're probably going to make those mistakes of resulting Initially, you're going to look at your winning trades and go they must all be good All right, and that maybe that's a fair way of starting but you know, there's obviously going to be dangers in that and then Gradually, you're just by trial and error going to go. Well, actually I did that again and I lost huge So that that can't be it. What other data between this trade and this trade is different And then, you know, it's going to be a you know, potentially a slower longer process Um, and again, if you're a low frequency trader trading once or twice a day, this could take years Um, so again, you know, to me I'm not just to me. I think to a lot of pros, you know, there's there's so many benefits to looking for a higher frequency form of trading Because if you respond to the feedback, you'll be you're getting much more feedback much more quickly Therefore, you should be able to develop quicker Um, but it's it's going to be a lot of trial and error if you if you go about it yourself Yeah, I mean it it sounds like I mean, there's so many analogies here to to make but it it it sounds like, you know You're just it's the school of hard knocks like you're going to make some really big errors Uh beginning, uh, and then just try to learn from them Uh, and then get back up on your feet and do better the next time Uh, yeah, yeah So be open-minded though be open-minded about the data, right? Just don't just close up and think of just these two things are going to be important There's a lot of data. There's a lot of data on your trade analyzer Um, look across it and and really think because it also comes down to what what is my edge You know, like I said before nor the methods very specific Who the who we trade against why are we training against them? What our edge is? So it should become quite clear to us that certain data should react in certain ways So again, if you if anybody looking to trade should be sitting there going I think I have edge How what is that edge? Who is it over and then that should give you some idea of what it should look like on your trade analyzer Yeah, yeah, I mean that will take some time too. I I imagine to to to make that connection. Um You know and uh And build it just it just sounds like it it will just have to be built up through experience and knowledge over time Yeah, yeah, and just put on everywhere put on as much, you know information from you know where you can see it um As I said just just drill down into it, you know, um That I mentioned the formula one guys in here You know, they'll tell you that they could shave a fraction of a second off in so many different ways It's not just you know, put your foot a bit bit further down on the metal, right? There's a whole different bunch of ways, you know, whether it's the Um the drag on the car or I'm not f1 guy, right? But there's a whole different bunch of ways they can set the car up to potentially Um, and they'll look at the conditions as well right context Is it a hot day cold day rainy day? That's going to help me change when they they have an idea on a cold day I need to change the settings in this way Like us as traders on a volatile day, I need to change it in this way And this is what it's going to look like on my screen You know, it's it's the kind of similar process But it does require information. It does require some data and knowledge You know those engineers know that it's you know, if there's some Drag in certain way or whatever it is. They know what needs to be changed You know, and that's our job as a trader if you don't know how to change something That I'm losing on volatile days in this way if you don't know how to change it And you don't know enough about your system Um and the style that you're using so I think I made an analogy before in a webinar about when I was Learning golf and you know initially you go and learn golf and I go to someone and I've got a problem, right? I'm Looking the ball or whatever and he corrects the hook, right? And then before I know it, um, I might be slicing it right and I go back to him and he'll correct that That's the wrong way of going about it, right? And eventually I figured out I just went to a pro and said just teach me About I want to learn about the swing and I want to learn about the mechanics of the swing So that I can correct myself on the on the course. I was I'm not learning about a golf swing All I'm learning is, you know, I'm correcting one mistake as I go Um And you know, you need to know what does it look like and what is it? Well, you need to correct it Um, otherwise, as I said, my my my my golf would never improve because every time I had a problem I had to go back to him So I had to learn the mechanics everything in the more depth to become a slight I'm not saying I was a great golfer, but that's how I got my Knowledge back on my handicap down and I needed for my own benefit as it is like a trader I just come to the point. I need to know I need to understand more than just Correcting a mistake one mistake. I need to understand what this thing is about What is a golf swing? What does it look like? How does it feel? You know, um So, yeah, there's a lot of data that needs that you need So how do you though? Like I mean, you know, I guess I The discussion or I'm bringing up is is uh, um You know not not good in the sense that there's all these analogies though, like uh That maybe do not apply for example for your golf swing You know, let's say suppose every time you hit a good a good ball You know a bird chirps And you're you make that connection like oh, okay. Well, you know, I'm looking to hear a bird chirp and then I'll hit the ball You know, it's ludicrous, but like, you know, how do you know you're not going down the wrong path? That's why you need to know what's important behind your method, right? So when I'm learning to golf, I know that I never mentioned bird chirps as part of it So when I learned, you know, I learned what was important Um, but there's an old saying in golf, isn't there that there's no pictures on the scorecard So I could slice the ball off the tee. It hits a tree, you know, it slices off, you know Off to the right hits a tree lands back on the fairway Second shot. I do that again hits a tree and lands on the green Right, and I and I putt I get a birdie Right, and that's resulting. I go, yeah, I got a birdie. I'm playing well But you know, there's no pictures on the scorecard, right? The scorecard says three, you know on a par four I've got a birdie But I you know, realistically if I keep doing that I'm not going to be hitting birdies. Anyway, I'm more likely to be going out of bounds. So I need to know that there's more about that that wasn't a good Whole I didn't play that well Um, so that's that's what you know, you have to start understanding that just because you made money on the trade This means it was good, but you need to understand, you know, that's why that's really why you do go and and have mentors and we all did Everybody of my you know my generation. We all have trading mentors. I mean You learn in certain, you know in different ways, but You've got to have some understanding of what does this look like What does it look like when it's right and what does it look like when it's wrong? Otherwise, yeah, it's it's it's a hard journey Yeah, yeah It's it it yeah It really does sound like uh, you you need some mentorship basically to you need to be pointed in the right direction Uh somehow You know like driverless cars, uh same idea is kind of this parent child like Uh relationship for the machine learning like no, don't do that You know, uh, and then another instance comes up and Like okay, you can do this, but you don't do that And it's learning, but it's just gonna take a long long time Yeah, I mean there's very few professional golfers who didn't have lessons You know and you can watch it on television as much as you want, right Golf you can watch it as much as you want. There's very few I don't think there's probably any professional golfers that never had lessons There's probably, you know, I coach soccer There's no professional soccer players who didn't have coaching to teach them how to improve If you go to any sports american football, you name it, right every top athlete had coaching to get there You know, you can't become a great heart surgeon without someone teaching you how to do it You know, we are in one of the only businesses where people just you know think yeah I can just read a book and start trading and making money That that's and it's not like that We all had mentors coaches or whatever every one of us did, you know, there's very few Are there anything I mean, I'm I'm asking this question out there now Are there any professions or anything that you can do that's difficult and trading is definitely difficult Where there's people that reach the top with no No coaching I don't know maybe there is but I think we all love it to be that way I love it if I didn't need a golf, you know and to be fair to begin with My mate was teaching me golf when I was 15 or 16 is my mate was teaching me that at the driving range, but he can't get me so far You know, I got to be I had hit a ball in the air a bit fair enough But then you know, it fell apart pretty quickly because I didn't have the mechanics So I figured you know, I didn't know anything. So yeah, I could I got to a point Yeah, I started to hit the ball in the air a bit I think I can go golf course and I was probably playing off like 25 26 I think I'm getting there and then suddenly I'm falling apart, but I actually know nothing about why About golf must have nothing about it at all I'm just continually like you said continually try an error to the golf driving range Try an hour try an hour and eventually something seems to work. That's great I'll get to me out there. It lasts for a few weeks or a couple of months or whatever it might be If you're lucky, you might get six months with it. I can't remember how long I got with that on a golf course before it just fell apart So it was never sustainable. It was never sustainable. That's just a reality So then I mean if you're stuck in that loop with your trading Uh, you know trial and error trial and error trying to draw conclusions. You're you're analyzing your trades You're trying to draw conclusions, but it's just like being at that range and just You know, you're gonna you're gonna be there for for years and and slightly improve your your swing Which I think is where a lot of retail traders are at Exactly Really, they don't know how to adapt their trading, which is why I started this by saying You need an in-depth knowledge of what you're trying to do What are you trying to do? What will it look like? And if you don't I think that's that's where most retail traders come at it We all know there's a high failure rate of retail traders They come at it from the perspective of like me on the golf course just keep trying an error trying an error All right, then every you know, but we never I never really had an idea of what is it Why did I do that? I don't know just worked It just worked for a bit when I you know moved my shoulder this way or put my stance I just I hit it a couple of times. So I'll just keep doing that But it was not what was right, but it worked for a while Um, I think that's how most retail traders are frankly. Why why there's a struggle out there needed to know it needed to be some Method to what I'm doing now. I'm doing this because this will induce this this will lead to this Um, I think that's missing from a lot of a lot of retail traders Um, and that's why I started this off with you need to know What your method looks like you need an in-depth understanding and again another thing I talk about retail traders What is your edge? What is specifically I think I did that in one of the webinars What specifically are you trying to make money off of here? What specifically are you making money out of and if you can't answer that question Then you're probably not going to survive, you know, you're you're you are just hoping Um, there needs to be something quite specific about what you're doing what you're picking off and why you're picking off Or maybe you're going to pick that off Once you have once you start to understand that those questions Then we can start and then the data becomes more important. Otherwise. Yeah, you are just frame Dancing it up Yeah, yeah, but I always approach it from the perspective of you know People that really want to make money as a trader will come about this from the right way We'll we'll learn, you know, we'll understand the method that they're doing. We'll we'll you know, um Build up a good understanding of what they're trying to do. How it will look Um, whoever they learn from we'll be able to teach them that and then the data is the tool We use to make sure that we're getting there Yeah, yeah, I mean it literally I mean begs the question here, uh about um You need to know what you are looking for. Uh, is that is the crucial step right there? Uh, yeah, yeah, I mean if you can get started in the right direction there Then this will much be much easier to for these other steps to fall into into place um, I just want to uh So I yeah, I've got your your key points slide up here, but I also want to show people this, um uh this tool that Uh Developed here. It's actually called the trading statistics. Uh in book map Uh, if you guys are interested in this you can you can read through it. I put the link into the chat Uh, it's on our book map knowledge base in the add-on section here, and then you can see it here trading statistics all of the um You know data points, uh are are listed here So you can read through it like, you know Mea mfa like you know pre and post etc And you know, this is uh worse It's a great, um first rendition here And we will continue to uh develop this this tool for you But uh, I just wanted to cover that so if anyone had any questions on that Uh, and then uh, gary, I want to get to some other questions here From some of the uh youtubers uh, let's see uh Yeah, old pork chops is saying, uh, uh, sorry. Sorry gary about australia losing to england Uh in the world cup I've got both. I've got both forces in that race. I said that before but I am because I'm in australia I am supporting. I was supporting them as tilters, uh, but I'm a miss originally so uh I'll be supported even in the final So what what um He's asking uh, what trading stats, uh Should I be looking to improve? Yeah, so I mean if you want to bring up the Your list actually i'm gonna go bruce. That's this I don't have to look at that again. Um This is You know really interesting. So there's a ton of information here. This this is what I meant. There's About 20 there must be 20 different items there, right? Yeah Be open to any of them. There's some of those that we're using an order method I think people will be like really? That's an important stat and it is for the northern method for example and there'll be things out there that you you know people will be Really baffled by it But they can still be very important and there will be questions. I asked my students if they're having a bad day There'll be certain questions. Did you do this? How many of these type of traders you have and the answer will almost certainly be not enough of certain certain style, for example Everybody will know like ma e m f e, right? They're still interesting to know, you know, that that's two that I'll pick off to start with that Again, they'll be different depending on your style If you're holding trades for half an hour You know your maes are going to be different from let's say Hours where we're holding trades for a second or two. But still the relationship between them Is still going to be important like I said, you know, don't be a result space if you've made Four ticks on a trade and it went 30 against you He knows not really important there. Is it it's probably not a good trade Okay, something something's happened there and you don't want to do that again You don't want to keep running into that because eventually it's not going to come back four ticks And it's just going to end up down 30 so Again, the actual numbers themselves will change depending on what style But any of these things here any of those things on that list really Could be important to your your style Just again, let's say if you if you're completely starting on your own from scratch It's going to take time to build that database up of You know, and and then there'll be you know And of course one way to go through is look at your trades that have very low You do quite well on that might be the way you start right and think okay It's reasonable to assume. This might be a decent trade And then have a look at some of the other metrics in that trade and perhaps start with that as a baseline Perhaps right that's something if you have no understanding at all, you know You either talk yourself or the person that taught you doesn't know That might be something but any of these, you know could be something That helps you And as I particularly I think always if you're high frequency short-term It's it's more it's easier to to know and and there's more data, but Yeah, there's so many things here Brewster, you know, that could be interesting So many could be interesting don't rule anything out Yeah, yeah, I mean can you give us a scenario like You know the next step let let's suppose that someone's looking at me a MFE and then What would be the next step like, you know time time involved in the trade number of ticks or making some sort of kind of comparison or relation I you know Yeah, again time involved in the trade It can be a really interesting metric, but again it will change depending on what style you're using of what what good and bad is um in general In general, you know, I would say And it's particularly for the northern method the shorter time you're in a trader better You know, you only want to be in a trade, you know It's one of the reasons why the northern method why you know, I want a style of trading or I'm in and out in two seconds The quicker I'm out of a trade the less chance there is at something, you know, something can smash me, right? That's a keep key on keep point behind why I want to trade that way when I trade for myself Okay, so I would always approach day trading from the perspective of the The shorter time I can be in this trade and take money the better Okay, um I approach you from the perspective of the longer that I'm in this trade the more chance there is of something hurting me now maybe that's just because I'm just uh An old trader that's seen too many bad bad things for people, right? But other people say I don't want to wear it as long as you can Um, there may be some styles where that is that the longer you hold the trade Better, all right. It's not the way for the northern method It's just not all right But there might be a way that you want to hold it for longer But of course the longer you hold trades you may have bigger MAE's or, you know, you're going to have those swings as it's moving around, you know, whether you want that whether you can hold that is another matter Um, but for the northern method, for example, the shorter the better Yeah, that's always that way that that's that's that's that'll be one key thing that we look for um And you know when we're going through comparing stats, there's certain, you know, certain time stats that we'll look at in a certain way Um, but as I said, like the inner there's some even off the screen, but there's there's a whole ton of information here It's it's so valuable. And you know, if anything I hope that I Just will trigger people to think about what they're doing a bit more depth and you know a bit more, um To be that's a bit more specific about okay. Yeah What exactly will this look like because that might trigger something they go? Oh, yeah, my method should do this And then from there you'll get to improve your method and you'll learn more from it You know, that's That's the that's the game we're in. That's what we're trying to do Learn more about what we do, you know, I know there's certain things where I'm going to lose certain situations where, you know, the weaknesses of my trades I know that I want to try and avoid that as much as possible But I said as I said during the thing I want to know why something happened. Why did I lose? Can I improve that? Can I change that? Otherwise, you know, I just I just don't think that um I think I personally would hate trading if I had no idea why I lost on the trade Or just go and do it again. Oh, I'd hate that You know, uh, I that would be like, how am I going to improve here? I'm not saying I'm going to hit 100% But I can certainly aim to try and you know hit as best the highest I can Of course I can the only way I can do that is by constantly reevaluating and constantly trying to improve Yeah Well, how much time you see, you know, I I really like what you said Uh, I kind of at the end of your presentation Do like I kind of look at yourself in the mirror type of uh, you know turn around don't look outside and go Well, what about a new indicator or whatever it might be? But look at yourself look at your trading understand what your actions were how to improve Now how much time should you or would you recommend, you know, spending on that like some sort of ratio? Let's suppose you you trade the the open for a couple hours every day or something Uh, how much time would you? Uh, look at your trading, uh, and analyze it afterwards Constantly So you are my students are constantly and you know, I I'm at the point my Some of my students have been doing this now for you know a year two years or whatever I just you know recently been posting some from one of my students and you know He narrates as he's going along which is great because I used to narrate the videos, right and tell people what's right with it He's He's Very good at it now and he narrates it and I just put up his narrations now on on our channel and every trade Every trade he's narrating like, you know, our trades are in and out in a few seconds So that decisions made really quickly but the checklist that I give my students is one that they can You know, even though there might be six or seven things on that checklist You can do that once you've done it like hundreds of times like anything you'll go through that checklist very quickly, right? It's a bit like when you when you want to pull out in your car, right when you first doing that It's like mirror mirror mirror, you know signal Maneuver blah blah blah, you know There's eight or nine things that you do when you're putting out to enter a road for example But once you've done it a hundred times, you know, that's done in a fraction of a second all those things similar So, you know, you know as he talks as is what we all should be doing all my students is every trade Go through it. Okay. That wasn't good. I didn't like that about it and change and that's that's constant, so it's constantly happening Because you're constantly getting feedback Whatever it is, they're all going to be perfect shots, but they're trying to achieve that and they just keep getting feedback You know every day is a little bit different. Some days they're, you know, sitting a little bit Some days that make me kind of a little bit catching a little bit fat or whatever it might be And they're just making those adjustments same for us We're trying to do the best we can and every time we're doing something every time we have a trade We're updating it and then at the end of the day, that's a different matter And I didn't really talk much about end of day. I didn't talk at all really about end of day analysis. Yeah, but that's a different Sort of scenario where you look at your stats for the whole day Um where you're looking at it. So I suppose in a sort of more holistic way of okay Let's have a look at this whole day. How many trades that I do You'll look at certain information and then it's different like how many trades that I do for example is not important when you're Um, necessarily when you're just doing trade by trade Intraday trading but at the end of the day you're going to look at the sum of that different information as well How many trades that I do did I over trade today? Um, and and other things or did I not trade enough? Did I not do the enough of these types of trades or in that type of trade at the end of the day? You'll do more of that kind of analysis Um, like I say if you look at the you know top level pros You know, whether it's in golf whether it's let me say his formula one team Every bit of feedback they get they will respond to Every bit of feedback they get they will respond to And you know, I think that's one of the key things I want people to take out of this is every trade you do is feedback Every trade you it's a wonderful opportunity It's an amazing opportunity Every trade you do is feedback. Can you respond to it? That's that's the question I'm going to ask people that's the the challenge. Can you respond to it? Because if you can That's how you can improve Let's let me get to a few more questions gary and then we can we can wrap it up here. I think Let's see Someone's asking about Your track record or trade performance and I don't know exactly what that means and maybe in terms of probabilities or I don't know Just uh, if there's if you have any sort of response to that Um I mean what I'll say is that I I traded different stars, right? So they traded one thing With the fund it's options. And that's so that comes back into that point, right? With the with my hedge fund uh, we design Mostly certainly the ones that I I work on designing on many option trades my partner designed some other types of trades As well. Now again with those trades, it's a completely different thing. Again, those trades are held for generally a few days um, so my uh, Win rates and what's good and bad and the data comes out of those stats is completely different to the data that we'll get from the Norning method as a trader, right? And but I have to know that and respond to that as well um And again, you know, I'll set Different parameters and again like when we we design trades if I don't know what's going on here Uh, it's not a trade that I'm going to really want You know, my question is how can I improve this trade and where can I get it to where I know that if it goes wrong I know what the weakness is. I know that that's that's what happened there um So, you know, I know that for different stars of trading that even I do I'll have different Different data that's going to help me or not help me All right, and that's one of those things. I'm I'm not perfect. Of course. I'm not perfect. I'm just like everybody else Good days average days bad days, right? And I like everybody else. We will fight that battle and no one's None of us are any different in that way I've never held myself up and said I'm like the world's great. We trade anything like that Um, you know, I think and I've been told by students. I'm a decent teacher of trading as well as being You know a reasonable trader. I've met lots of traders who are better than me You know in in many different aspects of different ways in sometimes that traders that will take more risks than me I'm a very conservative trader um always happen But you know, uh, it's you know, we have you know, I like everybody else We you know every every day every week every month, you know, we make mistakes and you just try to you know Am I able to learn from my mistakes? That's that's always a key aspect for me Yeah, yeah Yeah, I mean, uh, it sounds like for just about anything. It's a key aspect and self reflection and and and improvement and Uh down to minutia Like you're saying about formula one teams or golfers or you know, specific athletes that Performing at a very very high level um and uh being being able to Basically get to an unconscious Uh consciousness of I I know that's a term in in some of the trading books, etc But you know exactly what you're doing exactly what you're looking for Uh, and you can do it in real time Like the one trader that you had mentioned, uh Narrating in in real time Yeah, yeah, and and I that to me like when I get to that point where I'm seeing my students now Able to do that. I'm like, okay. You know The guy's got it, right? It's not and it it's like anything it becomes a skill then rather than you know Because he's doing it all lifetime, you know every couple of seconds making those things and he's not the only one other other students Doing that too, but I just just posted one last week. That's why I was sitting in my head And this trade is, you know, particularly good at it. Um, but yeah, I mean as I said find find uh Something out there where The best people at it the people that are very good or professionals are not looking at their work in that detail You know, do you want a surgeon that's not going over what he just did in the surgery today? You know and going over in detail to make sure that he's learned from You know anything can improve, you know, we we want everybody we deal with in life to be improving Every sportsman you see is working on that in that way. Why should trading be different? You know and that's what sometimes I feel like some people just feel like oh, yeah trading I'll just be able to do this and that and I'll make money and I'll just you know I'll set up this breakout of a pattern or whatever and I'll just buy it here in the stock below and that's it and I'll make money It's come on and that's just like saying I'll just swing a golf club and I'll hit the board It's just not what pros do. That's not in any walk of life Yeah, yeah Yeah, I'm understood So, um, I think let's see if there's any more questions here. No, I think we're we're we're finished Gary Is there anything you would like to any kind of parting wisdom you'd like to leave us with? Uh, nothing different than what I said just if you're not using the Analyzer tool, you know use it look at it and um And don't cut um columns out of it. Any of them could be important. Any of them could be interesting um And and view this as a as a massive opportunity, you know view that data as a massive opportunity The feedback that you're getting is just It's so valuable So, you know, we all know that a lot of retail traders are not so not using this data To have a look at it build it up And yeah use this as Learn about what you're doing And I say this for some people may trigger them to go and think, okay I need to contact who I learn from all that, you know, more people that are more knowledgeable about the style that I'm doing And try to ask people. Okay. What does it look like? And again, I think again, any anybody worth their soul in this industry will be able to tell you that Um, that the style they're using this is what it looks like that will itself is maybe a question You didn't ask when you when you learn that style Okay, now ask that question. What does it look like in data? Not just the you know, you know min rates, but what does it look like in other data? And that will help you a little bit further and you might just get a little bit of a more Knowledge about the style that you're using it So it might push the next stage as well, which will help you then improve your trading in a different way Excellent. Thank you very much, Gary My pleasure Rich. Thanks for inviting me on again. Okay. All right. Take care Yeah, bye-bye