 Good morning traders and welcome to the live trading webinar here at book map and today We have live trading with Scott Pulsini. We do this on every Thursday at 10 a.m We go for about an hour to hour and a half. Scott will go through the markets the futures markets and some we go for about an trading activity that He'll be taking and and his live analysis You get a lot more from it's just not live trading here This is why we have the as a part of our book map education We have our educational course then we have the live Forward-looking analysis and then we have the live trading to put all of these ducks in a row so that you can really learn About order flow and how to Add that into your trading plan and then learn from other professional traders as well like Scott And like jay trader that we had yesterday. Okay, so it's Also about you can you know listen or understand their mindset Their psychology What they're looking at in the markets their setups their kind of attitudes toward the markets And also they're one of the most important things. I think is their trade management Understand not just entries and exits, but how they're managing that trade That's lacking from a lot of education out there. So this is really a nice view into that You guys know who Scott is he's been trading for quite a while and was featured in a book by Brett Steenbarger, so anyway, he does offer mentorship and Education I'll put these links into the chat. He has a chat room. He has an educational course a trading room everything so I gotta go through the disclosures and we'll turn it right over to Scott general disclosure all book map limited materials information and Presentations are for educational purposes only and should not be considered specific investment advice nor recommendations Live trading is in simulation demo paper trading mode and strictly for educational purposes Live trading executed in simulation cannot accurately represent Realistic trading performance the risk disclosure trading futures equities and digital currencies Involve 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, Scott. Are you in? Let me check Hey, there he is All right, I'm well, how are you doing? You said I'm well. How are you? I'm good. Yeah, okay. We missed you. We missed you last week. We had the pro trader webinar, but we'll make up for it It was options focused. So we'll make up for it. We'll do a special event with you regarding your You know new setups and in your your educational course that you're coming out with soon So be a good opportunity to go over that The and the steps the stepbrothers set up All right, the six the sixth wonder of the world Wonder I'm still I'm still taking credit for that. I hope you know so Anyway, I don't know if that's a anyone wants to like back me on that or not But the important things I will take credit for when it's due But anyway, Scott, if you can share your screen and we'll get we'll get started right into it Oh guys, I just you can see my screen here and and testing some new kind of indicators that are coming out there They are fantastic I'll just leave it at that for right now. I don't want to get involved in it, but we can we're going to be able to offer filtered heat map To to really more expose larger players activity in the order book. It it's very very powerful thing So looking forward to sharing that with you soon. Okay? All right, Scott. We see your screen. You're all set to go All right, cool. All right, so I'm currently short. Yes. I'm a short off of this Broken ice setup. So first of all, there's a fed guy talking He may be done now, but you know, I tell my room every five minutes is You know, we're doing a different type of trading there as well or a version trade Which is a little more based on the algos like playing playing with the algo moves Versus the big money moves my position trading is more trading off the big money type of trades But what I tell them not stop is when the new information hits the market all bets are off, right? So it's like, yeah, we have our zones. We have our areas where you know, the reversion trade We're playing so on and so forth. But when new information hits the market, you know The new when new information hits new money hits. So when new money hits, they run over algos So that's what you need to know You know for a version trade even for the position trading a lot of times, I'll still take the position tradings position trades And I'll trail them based on new events and so on and so forth But you're still risking when guys are talking, you know If you want to you want to be conservative just wait till they're done chirping and then you can you know start to trade again but You know, he was trading or he was talking I may be done and then looking at my squawk channel We get the all the the numbers coming up eight o'clock, which is 10 o'clock central That is yeah an hour bank of america or a bank of england two big of england guys are speaking to so I don't know how much effect that's going to have but just be aware of that. So anyway While he was talking there was a set up here. You see there was Wasn't quite threshold By ice but this was threshold for my threshold stop run So I have certain thresholds for each market that I will trade off that event So this is pretty close to a double way. I mean a double way. I mean is when the dumb money pukes right into the waiting hands of the of the smart money 700 is my threshold for yes, this was close. It's like set 640 But either way, this was it. This was a valid setup with the stop run And as he talked We were actually close really close to the blue lug and I I was hesitating putting this on There's a lot going against this and we'll talk about the lugs like we do every but it was pretty much right here, but um Based on the bigger picture stuff. I was willing to take this trade and we'll go over that here shortly But anyway, this did uh, you know the usual move away It retested and then failed and I got short and then as this thing just broke down a new setup occurred So now you see here another 1200 stops close to 1200 stops. That's this yellow zone. So So What I can do now Is based on the new setup. I was short and my stop was way up here I can trail my stop all the way down to just outside in atr The current atr ever sure range is and this is how we trade According to the dynamic volatility of the market, right? So 8.92. So almost nine points is the atr currently so the way I trade is I will it's all based off of atr and reactions to these zones So I had my stop and atr just outside in atr above this volume event and then this new one fired off So now I was able to trail this down So it's pretty much going to be a scratch. I'll lose a little bit if this pops back up if this moves lower I'm going to add to this trade Because we actually do have new lugs now we'll go over this So you can see I was hesitant to put So I'm not these You guys hear me every week these lugs and the most powerful thing I've seen as far as support and resistance Second most powerful thing I've seen in futures trading next to book map and and the si indicator. So I rarely will go Take a short into You know that she calls them her, you know the big blue and big red until those major support major resistance But on this in this instance, there was a lot going for this trade As far as this was a multi-day Market profile composite which we tried to launch out of yesterday got back inside overnight went straight down through it and then outside of that So that was one reason and the other reason is this these markets are in some serious trouble now as far as Structure so you can see here This is what we call a fail breakout one of my favorite trades Um, you actually had Had this it was a frail fail breakdown at first So we talk about in my room every day on how when something should happen and doesn't the subsequent move the other way is a whopper Right. So this thing was a fail breakdown And it did move up and it looked like it's just going to launch overnight So on and so forth and it didn't and then it not only did it not launch higher Then it came back right back down through this high volume note of this balance area Which told me this thing is going to zero I'm being sarcastic there, but I think it's going to get smushed at least down into this major zone here We'll go over what that is as it gets down there, but the bottom line is This is what trading is right you come up with a thesis of what you think is happening And then when you get for me when I get in like the real-time volume Which is the most important thing in futures trading bar none when you get that agreeing with your thesis That's when you can fire on your trades trade a little bigger as far as so on and so forth We talk about the risk management every day. We'll talk about it again today I'll go show you the spreadsheet that I'm using for the position trading stuff But you want to control your risk, but it doesn't mean you can't put more on an individual trade You always have to have a stopping point for the day, right? So you should only be risking five to six percent of your account size for the entire day Which means you can break up individual trades to one and a half to two percent for individual trades Well, if you see a trade that everything aligns You think something's going to happen then you get the volume events in that in that direction you can trade You know four percent on that trade just knowing you basically have one more bullet left Till you're done for the day if you're wrong on that trade, right? So I can tell you guys at the time when I got back in the business right when I learned about book map And I I was going to just trade stocks and I started training with uh smb Um, I'm sure you guys all heard of them. They're they're out of new york. They're mostly stock traders Uh, and they would teach their traders about you know, you come up with your setups in your playbooks And then when you they would literally ground their traders if they did not trade bigger size on their a plus setups They would literally put them on the simulator the next day if they got an a plus setup And they didn't trade most of their capital allotment for that day So it's very important when you when everything agrees and we all know how confusing the markets can be right Especially the last couple days. There's been 45 fed speakers throughout the day. It's been ridiculous, right? So when you get when you get a scenario a perfect storm where everything lines up What you think's going to happen and then you get the volume events in that favor You need to you need to be able to trade bigger, right? So as long as you're not blowing, you know through your 6% risk for the day So anyway, um, I will add to this trade So we I told you guys we're working on a new trade in my trade room I'm not going to trade that on public webinars. That is, you know, it's a proprietary thing for my paid members, right? They they get something additional. You guys are getting a lot just on these free webinars But you know, that's something that they get, you know as part of my trade room But we had a member in there that came up with this awesome spreadsheets So we're you know trading this atr strategy here But what's awesome here is he also put the position trading strategy So I no longer have to guess at my prices or spend as if you put on my prior webinars You know trying to figure out atr figure out, you know outside the atr Random guessing a lot of times just putting in orders as far as just outside an atr This is very exact. So you can see here You put in your um, and this is again, this is all available to my trade room members Please don't email asking me for the spreadsheet unless you're part of my room You get the spreadsheet if you're not, you don't so 9.13 The current atr So we've been on here And then you put in your the zone prices. I know hopefully I don't miss this trade So the top of the zone was 36 48 quarter the bottom of the zone was 44 75 You see these prices, right? You put them in up here And then it computes it down here for the position trading stuff. So I'll be december Stuff in there. So anyway, I can add to this trade at 36 34 71 So I round up on the entry so 36 30 35 I can add to this trade now And at what's also awesome based on the volatility it tells me exactly how many I can trade based on my risk There's the risk calculator. I can show you guys every week. Well now it's like built in this So you just put in your comp size what you want to risk and it tells you exactly how many contracts How many contracts I can trade for the risk I need to take so for this particular trade It's 23 points of risk, right? Well, yeah, that's a lot. That's a lot of points But you just adjust your size. You don't trade the same size you trade if you're only risking 10 points, right? So this is telling me I could put on just under three around up to three on that Well, again, I think this is my entry right here 36 35 Right there All right, so now I've added to that trade my stop is in the same spot Right because I trailed my stop off of this entry based on this and now I added and it stops in the same spot Right, so this comes back. I'll lose on this and I'll pretty much scratch the first trade if this keeps going This is going to be could be a you know month making day. This is what you trade for. This is what this is what trading is, right? All great traders have maybe five to ten Trading days and an entire year that makes their entire In a year that makes their entire p&l, right? So it's basically, you know, make a little lose a little make a little lose a little Make won't make more lose a little lose a little more And then you have this whopper day that you catch a trend a and it makes your month makes your year, right? That's what your goal is in trading. You're kind of trading water until you get this You know perfect storm. I don't like to use those words with the hurricane Especially with my mom that was right in the middle of it. Thank god. She survived that but It is a perfect storm When you can catch these moves and and then keep adding and based on and again, I'm not adding randomly I'm adding based on volume events and I it helps me control my risk by trailing my stops based on them So on and so forth So now we got to look at some places where this market may, you know, I may be getting out of some of these If this moves lower, you see there's a couple spot gamma levels here And I'm missing stuff in Nasdaq till I know Look at these prices here Let's look over here So we're bouncing off baby lug right now. I don't usually get out of baby lug They're just minor lug with levels unless it's confluent with something. There's really nothing here Actually, I should have gone back and marked up the chart for prior market profiles But we're basically looking at 3600. So I will I only get out of the trade if we hit major areas I'll get out of portions of the trade in market profile areas So on and so forth But I get out of the full trade at the major lug and or an opposing volume event, right? So I'm holding this trade basically until we get down to 3600 or I get an opposing event I may get out. I'll probably get out of half of these at because I know how powerful spot gamma is as well This is the 3600 for the spx for the cash market, right, which is equivalent to Basically 3616 in the futures. So I will watch this close I'll probably get out of four of them here if this comes down here and starts to bounce I'll get out because I know how powerful these levels are as well. So my trading is very simple as far as you know, how I'm trading it Trading off volume events and I getting I'm getting out. I know what's important as far as places where this market could bounce and And then I wait for those areas and I get out if I get an opposing signal I'm out of everything and or stop out. So and I just let the trade work, right? You had so many traders It's the biggest fallacy because it's so hard because it's against human nature to be staring at this Watching this go in your favor You think you got your next three months rent paid and then you see this and you see it disappear And you go through that emotional pain and then you you panic out of it And then you cost yourself another hundred points down and so on and so forth, right? So you've got to learn to just sit in these trades if you have rules There's no you don't have this internal conflict and that's the great thing about that other trade We're working on in my room. This is a little more subjective as far as rules But the the reversion trade we're working on it's literally you get your prices You put your trade in and you let it work, right? You do not touch it And that's how you the reversion trade is great for traders That struggle with You know getting out and stuff if you can you know because we trust it because it works and it works all the time It's ridiculous Guys trust it and then they're starting to condition themselves to sit in the nonsense, right? You got to remember these algos are 85 90 of the trade so 85 90 of the time They are whipsawing you in in unimportant areas, right? The big money comes in then they get smoked and then they got to readjust but other than that They they sense this stuff too, right? So when they know the big one is not playing then they start their games, right? And that's whipping whipsawing all the retail traders out of the trades So we have her we have what we want to get out of this trade We have our potential targets let it work and or a new a new event comes in, right? And that's it I don't trust me. I know it's easier said than done There was a reason I gravitated to scalping when I first came into the business because it was almost impossible for me to watch this And watch this and watch this and think I got it and watch this and this and this, right? So eventually, you know, it takes a long time to condition yourself Especially if you're watching this So I tell you guys all the time the number one thing you need to do Is turn off that and just trade, right? If you have your limits set with your broker for the day You can just trade and you would be amazed if you just trade your setups trade your rules Keep putting your trades in. Yeah, you again. I say this all the time You know, you'll be aware where you're at in the beginning But as you trade and you're taking trade trade trade trade, then all of a sudden you forget, you know, you're having a good day You will be amazed you'll pull up this thing There'd be days I'd be scalping and I would turn it off I think that's when I finally took off as a trader when I turned it off because I used to have it down here We talked about this. I know we talked about all the stuff before but And I'd just be staring at it when I finally turned that off and I would just trade I would pull up my PNL at the end of the day And I think I'd be up like 50 grand and I'd be up like 180 thousand dollars I'm like, wow, I didn't realize I was doing that. Well, right? Here we go. So this is a kind of a weird buy-stop area, but this is a new event I'm going to draw this zone and I will get out if this pops above an ATR above here. So this is See what I've been doing here is turning off these bubbles to help me see the price line And you can get this price line. We talked about this last webinar a couple weeks ago I'll show you that here in a second. I just want to get this stuff in here So this was buy-stops. You can see where it started down here And you can see with this awesome sweeps indicator that's part of the global plus package You can actually see the swipes of and help you draw your zones as well And you see the on-chart red line for stop runs. So this is obviously very incredible information that You guys have that most of the trading world does not and that is called an edge Let's get this stuff in All right, so I know the top of that zone is 3640. I know the ATR is right around nine again My old way of trading. I'm already gonna miss this How'd I get out of this? So what I'm gonna do here is I'm just gonna put this in just outside I don't know exactly what it is, but I know it's just outside nine points. So I'm gonna move this now down here That's not Okay, so what I'm doing now. So I'm not just guessing 3640 3636 go to my brand new shiny spreadsheet That my boy Jay Labrada set up for me For the room Absolutely incredible. It saves me so much time. Actually it's not there. It's even dummy proof So if you start typing in the wrong spot, I told you 3640 is the top of the zone the bottom of the zone is 3636 down here I'm sure we have the current ATR as well. ATR is currently 9.36 So that's gonna be my prices. So now I stop at 3650 31 Just outside an ATR 110 percent of an ATR. So I was pretty close with that guess, right? So put that up there Put that up there Round up on my stop. So 3650 half Which it would be is gonna be 110 percent of an ATR Just outside I go just outside an ATR because you get these algos that snap it back at ATR So that's why I go just outside of that If not, I let it work and I can actually add to this trade as well Because it's a new setup, right? So where would I add? Well, it's all right here. I would add At 3625 69 I can still put on if you want to round up I could put on three if you're trading micros You could again with this risk if you get a different risk you got to change this But I could put on 27 28 micros or 2.76 contracts round up three contracts at 2569 Round up 25 75. So we'll set up another trade Here And I will add to that. So this is an example if this thing keeps moving down. I'm gonna have three different setups on Three different trades on and I kill it if it comes back. I basically I'm gonna lose a little bit I'll pretty much scratch the I'll make a little bit on the first trade the second I'll lose a little bit And I'll be out and I'll wait for my next setup if this keeps going You don't know what's gonna happen, right? If you knew what was gonna happen then You You would be rich, right? So you don't know what's gonna happen. So you just follow your rules This comes back up. It'll suck. I can stop out big deal on the next trade if this keeps moving down I'm gonna have three trades on and I'm gonna kill it. So And again based on what I'm seeing here that this kid this thing could just get smoked now And this is major Bye bye in my in my opinion, right same thing with nasdaq This is an official fail breakout This didn't even move lower yesterday this stayed in this in this three day four day balance Tried to break out yesterday afternoon. It looked like it was going to the moon overnight gaps down right to the high volume node This is more. I think we're headed today. So we'll see So, okay, this is this is the point, right? This is what should happen that first of all when this broke out. This should have done that It didn't flip the other way. Okay, so now on a fail breakout This should happen for some reason if this thing can recover and get back up here. Well, then you got to change your tune, right? This is all if then scenarios you got to be ready to pivot So right now I'm thinking that should happen and it should odds-wise this should die if it holds here Then you know probably play games and then the subsequent move is going to be a whopper to the upside So you've got to be able to pivot you come again Guys, you know, you I don't my gut feeling. I used to trade nothing but gut feelings My gut feelings nowadays is wrong probably 80% of the time not my market reading but my gut feeling like You know like yesterday. I felt like that market was going to just rip and then it came back and and died overnight, right? So I have I do my analysis and my chart reading is very good because you just look it's not it's not difficult once you learn it, right? You just Markets are in two states. They're either balancing or they're trending balancing or they're trending, right? It's not hard to find balance areas and then understand how the market should react to them So I'm this is what should happen now if this doesn't then I'm going to something like that is going to happen the other way So right now though, this looks like it's going to die. I I trade accordingly, right? All right, that was a lot of chirp and any questions on all that? Um, see Not really. No some comments, etc. Uh, so what? Yep There's a suggestion about I don't know putting your heat map down a little bit Hi, yeah, I don't quite get it. Um, but Yeah, 007 if what if what you mean there Um, my heat map. Yeah. Yeah, you said to put your heat map a bit down to see your lines better Oh, yeah, you just use this slider, right? So this is what I was showing you to help you draw your zones And then you can I've never used this price line when I first started book map when I was trading the stocks 2017 or everyone that was This was on the chart and I'm like this is really annoying. I don't like that So I took it off and then I completely forgot it was there and then someone in my room This is guys. This is what's great about having a community. I mean you have the book map community You have my trade room It's like you have all this all these different inputs all these bright minds You know, I can't tell you how many guys in my room have helped me like just with the spreadsheet alone But you know, he told me a you know, you can have the price line on here So anyway, you right click you go to configure visible components and then Uh pick last price and that's going to show you the actual line It's going to help you draw your zones because when you have your bubbles So I was been drawing zones wrong for years. Who knows how much this has cost me So I would like draw a zone. So say it would be right here Need to do it actually but Right here. I would draw the zone below there. Well, the price actually stopped right there, right? That makes a difference, especially with my strategies So it's like I was drawing zones on the bubbles versus the actual last traded price, right? Because the bubble sometimes you can see this bubble goes lower Than the actual price what we're going to say Bruce. Yeah. Yeah. No, I mean, it's a center point of that bubble is is where You know that those and it it's also can be VWAP related depending on your zoom um, uh, I mean very very small VWAP for a very small time frame, but um, uh, anyway, um No, no, it's the you can also dim the heat map, uh, Scott. So if the heat map, yeah, yeah So if you don't have to go all the way down, but you know, if you want to yeah, some somewhere in between half I think by default it's actually at the half level Yeah, I mean, uh, I like it brighter, but that's just all personal preference guys I mean if it my heat map to bob it bother you I don't know what to tell you. I like it. I like to see that. Yeah, that's what settings are all about Right, exactly All right, so you just see this just bounced off of this prior zone not coincidental, right? And then I'm hoping this can do that if this comes back stops me then on to the next straight So what I was looking for is I heard some stuff in Nasdaq. So Another feature you guys want to do right? So you want to have if you go to file alerts Brings up the text as well. So I I'm watching like 15 markets, right? So I hear it, but I don't hear it many times So like I know something happened in Nasdaq. So I just go back and like well one. What was that? When was it? Oh, it's 714. This is my time. I'm on pacific That's the last now that you see the copper. There's the stop run. We just Get it off of her Other stop off of so 714. So now I know because I heard it, but I didn't hear it, right? So when I go 714 here you go. There's there's the volume of that, right? So that's really important to have up for me In case I miss something. So let's draw this zone I turn off my bubbles. What's the oh, we got natural gas numbers coming up Using my new hotkeys that Bruce never told me about So that incorporates this here, I usually use try to color coordinate So I know what it is for my personal Knowledge, this was by ice right By ice isn't always right. That's why we have a broken ice setup It's the volume event that is important because there are loaded up traders. Just think about it Um in common sense terms, right? Somebody was selling this like crazy in the iran in no mouth full of by ice, right? So somebody would buy spurs are hidden orders They only have to show a certain percentage like 10 percent of the order in the order book So someone came in here thinking they were going to whack 20 lots and they ended up running into 200, right? That's important information. That's what you have to pay attention to is the area And then the way the market reacts to the area is the edge, right? That's loaded up traders that need to get the hell out of their trades when they're wrong All right. So let's see. Did this get an ATR above here? ATR is 32.62. That's amazing. And I was going to an exact ATR and came back never seen that one before Being sarcastic this one up to uh It's hard to tell when you're sarcastic Well, that's why I usually say it but are you are you being sarcastic? Are you being? Oh, good lord. All right. This is an endless spiral repair. Forget it. I'm not going to say anything So you can see that was almost an exact ATR out of here. I don't know. Let's see what time it was because you got to Note the time, you know for my strategy. You want to know exactly what's ATR? So 720, 751 This doesn't give you the exact minute, but it gives you that fine minute period You see if I go to the 725 period and look in the top left there 725 and then look down in the middle The ATR was 32.90 if you look on middle left there So that did not get a full ATR above that got real close to one ATR and then retested the zone Meaning because the way I trade these is if the market is able to get a full ATR out of here It disqualifies a short for me. This did not officially get an ATR so I can still put on a short. So that's what I was That's why I was looking at that Um, real close though. I mean you want to split here as I was pretty close But that's my you know, I got to follow my rules. I could still put on shorts there Again, this isn't hanging out for dear life this es Uh, it doesn't sound like I had the squawk on I don't Yeah, I guess he's still talking 727 he's still chirping. So that was 927 So five minutes ago guys at five minutes ago, he's still talking So, uh, all right, let's see what else we heard here. I think there was some And just pull this over I'm not going to try copper right now. I got enough going on. Um, I thought I heard so you mean This was before maybe not Just copper You don't you don't see this kind of we'll look at it You don't see that kind of size and copper ever So something's going on major in there and the other thing I've been noticing lately Which just obviously common sense markets will be doing nothing all of a sudden you hear bonds firing off My threshold for bonds is 500 you start hearing not today. I'm sorry like yesterday You hear something fire off in bonds and then all of a sudden equity is just rip, right? So Again, you guys this is the greatest edge you can have in futures trading. I say it. I will say it five million more times in my days So i'm not going to spend time drawing all this stuff because i'm not going to trade it right now You definitely could right so this is this this is a major These are major stop events Here and then you got another one you always want to revert to the most recent setup and you can trade out for that I just don't feel like going through the whole atr and everything else will we got too much going on here. So All right We'll just go over quickly some of the bigger picture stuff in these other markets We already know equities are in serious trouble as far as what what they look like it's going to happen Remember if they recover the move up is going to be ridiculous. So just keep that in mind so crude Been in a huge downtrend. Obviously This is back in a very important zone and you can see it's It's failing here. So I draw my zones on the four important areas of charting which is tops and bottoms of balance areas directional conviction Or high-volume node I don't usually draw zones on high-volume nodes because it makes my charts too noisy because you but you can just eyeball because it's just an area It's not an exact price, right? It's pretty much the middle of a balance area, right? So like if I know to be here It wasn't good drawing there It's a little guy I've I know it up in here So I don't draw those usually, uh, but I do draw like this was directional conviction This was a selling tail. That's the fourth directional conviction is the third um Get the word the third Form of charting or the important areas of charting and then buying and selling tails So you had directional conviction you had a selling tail directional conviction You had another selling tail tails are very important because it shows instant rejection of the area So this area was important. So then we got down here at the time This was important. You had buying tail then you had a gap up to stay gaps Gap, this is a regular trading hours chart and I did that on purpose so I could see the gaps gaps our directional conviction So this was that then we came down held again buying tail directional conviction Buying tail buying tail then you had a gap down From this balance area very important. That's this yellow. It didn't get this white zone It didn't quake it up to that white zone But you can see it came back up here after gapping down through it first test back of this zone And it's starting to fail Right, so these are the areas if you know your areas, this is the edge You get sure you know your important areas you wait for your real-time volume event and you fire There has been no volume event in crude so far, but if there is I will definitely be looking for a short December Isisford by NQ 153 contracts close to another fill here So I you know I'll add but a lot of times if the setups are right on top of each other I don't really add because that just means I have double size on from the same on the same trade Right. I mean this is far enough away that I'll do this Again, you got to keep context in mind I know this market has a very good chance of getting absolutely pummeled at least down to the put wall down here So I will add it to this trade One thing I did not look at Was how close we are to the Blue lug again, even though I shorted the first time. Yeah, blue lugs not. Yeah, we're I did look at this 3600 Is the blue look so I'm not worried about that. So yeah, I'll I will add to that trade Let's go back to Nasdaq and see if we can get a trade on here just so we can get loaded up and then watch over rip Watch something happen and then usual bungee jump screw all the shorts 197 So let's do this again Turn this off you can see where this spiked right started over here I mean the real spike what I mean to start over here. This is only 59. I I try to get the concentrated area You could start it back there if you want, but the concentrated area is basically Just use your crosshair up here from there And just follow along follow all the prices basically to there. It's a nice tight small zone Let's make it a different color so we don't get confused So I don't get confused On the other setup we do need our keys for the colors That would be nice Love John's own this is basically the same same area. This is probably the same house. I don't know. Yeah, you can see it here, right? I don't I mean guys, I don't know what else like this is incredible information Right, you just saw so you see the first iceberg you see it here and then you see the iceberg on chart This is one house that keeps buying them. They are now 400 deep with by ice. That's what this is telling you here That is incredible I mean the only the only people Have this information or like huge trading firms and funds and stuff like that, right that to disseminate the cme nbo data This is incredible information. It's it's also important to know. Hey, is this multiple by ice from different analysis or is this one entity? Right, this is one entity and it's It's not crucial to know that but it's just good to know. Hey, somebody's just bought 400 by themselves or some single firm Right, so let's just see if we got it. I'm just going to incorporate both of those This one and this one Let's see. It was just the same area. This looks like a Little it's the same exact price, right? It came down. They tried to hammer it and they got a mouth full of ice They're like, oh crap. We're wrong So this this zone was even could be even condensed more but I'm keeping the zone here because you can see this didn't go much higher on this spike So I'm just incorporating both these stop both these by ice areas here I'm gonna get rid of this because we have two new events and it's giving me headache And here come it looks like the bunch of jumps come in so it looks like I'm gonna Probably scratch this trade. We're still we're still alive there It won't be a scratchy here. It'll be a small loser, but all right. So now we're watching this This may turn into look guys guys and girls. I think these markers are going to get killed But the real-time volume is king if they're going to get killed and you should not be seeing bullish Events you should be seeing by ice gets smoked, right? This should not be That means the big money is not Cameron this thing, right? So yes, I have an idea what should happen But I'm ready to pivot is if this turns into a bullish setup What makes it a bullish setup if this gets an ATR above here And so this is 6375 We even put this in the spreadsheet 3128 is your ATR 6375 Let's go to our handy-dandy spreadsheet Thank you Let's put in our ATR first 3128. I can't tell you how incredible the spreadsheet is I'm just going to keep talking about it because it's I guess just I owe Jay Lebrado Mucho 111 6375 On your zone is Right where that iceberg was Absorbing everything 11159. So it may have come down here now. I know Um, if I go if I get long I go long One ATR is basically 24 24 and a half 24 and three quarters, right? If I were going to go long aggressively That's the price I would go if I'm going to go short aggressively. That's the price I go short But either way, this is where it needs to touch to get an ATR Um and 10% out of that zone. So if that touches 25, this is a bullish setup Right, that's not right ATR is 31 Yeah, that's not right. ATR should be 90 Should be like 94 95 Which it already had. So that is a full ATR. What am I doing here? Why is this not I did something wrong. I'm sure 116 That's right So there's something wrong with this. I'm Jay Lebrado's on this webinar Take a look at that because that should be putting me in Hey, what am I doing here reading this incorrectly? Because this should this should be the ATR is 1198 But why is this telling me to get in and 11 No, I'm confused right now. So we'll go back to that. But this 98 was the price for the atr plus 10% So this is a bullish setup, right? So now I look at my lugs. Sorry if that was confusing guys. I'm confused myself. I don't know I must not be thinking of something correctly there Was this user error scott I it might be but I Something's not right there. I may have put something in wrong Jay Lebrado if you want to chime in On the webinar. I don't know what I do wrong there First of all, we're at the blue lugs. So I just made a mistake there where I take trades off of the blue lugs aggressively So I should have already been in this trade long At the 98 at that price at this price. I just don't know why this is showing me Okay, so 11198 is your we should have been my entry Hopefully this will come back and I can trade Just say two This will be a edge. I'll have dueling positions on but it's kind of edge for my other trade There's no, you know, it probably won't come and fill me because that's markets don't like me sometimes like that But this is coming back. So You know, I put myself in position for an incredible day if it comes back stops me out I'm on to the next setup. If this comes back and fills me. I'll be long nasdaq anyway So it'll be kind of edge right there All right, I'm filled there So now my stop goes so what that should be showing me is where my stop goes 3128 Slow looks right Should have been my limit order Oh, this is why but there you go guys user error because I'm a moron It's the zone top price. So I'm over here. So my serer here What a moron 11 you can see I'm very easy on myself. So I was looking this this is where I should have been buying below Right or or getting short. I'm sorry Just forget this right now. I'm sorry I'm gonna look at this side We're above the top of the zone. This is what I should have been looking at This is my first time using the spreadsheet not So I should be in at 1198 so that was correct, right? These were pretty close And then I stop out at What am I doing here? Why am I not Because this should show me my stop on the on the downside Sorry guys There's something off there Because it should be showing them where I get in which that entry was correct But it should be showing me my stop price ATR below the zone, right? So the atr. Let's just do it by hand 3155 below this zone That's 29 It's like 27 Half My stop for this trade should be 27 and a half I think I actually just said that let's see Let's see Now that was right. What am I doing while Bruce? I think I'm gonna start drinking So this was right. I was thinking I was thinking this was Above this price. This is below. So this is exactly correct. I'm getting in Computers are usually right. I'm usually wrong, right? So I'm getting in at 90 98 quarter Which I just did my stop is at 11124 I was thinking this was 11224 and I'm like, well, why is my stop price above that price just because I obviously can't read numbers All right, let's just you got to take that out on the recording. Let's just delete all that So people don't think I'm a complete moron So 20, I'm kidding. You don't have to take it out 24 and a half All right, that was a lot of work for And everything was staring me right in the face All right, so you guys see what I did there Spreadsheet was right all along shockingly I should have been long right there the 98 and my stop goes down here. All the prices were in there I just got confused with the handle. Hey Scott, you know, I mean, um, this actually kind of brings up an interesting point You know We can write. I mean, uh, you know, this would be your own proprietary thing. I mean, you would have to probably like hire somebody to write it We wouldn't develop it for you unless like sahi or you know, the team Development team was was interested in doing something like this. Um, but uh, uh, Automate that whole process to input the stops everything in there for you Oh, yeah, you know, I mean, uh, yeah, yeah, of course, of course But I mean, it's going to be a little complex because the atr, et cetera. We're not getting that reading I'm not really sure where where it's going to come from but Uh, anyway, uh, yeah, it's it's it's all all very doable. Um, but uh I I really never thought about it until until just now. I was like, you know, seeing seeing the struggling here with it. Um Well, I'm struggling because I'm just an idiot right now for some reason I just for the what threw me off is because I was on the wrong side of the chart. So this is The bottom of the zone meaning I'm getting in here. I'm stopping out Yeah, there's a zone I was staring at this and then this threw me off and then it just turned into a shit show. Yeah. Yeah. I mean, uh, Jorge We got back and said everything looks good here. Um, the um, again, Peter's usually right No, no, I but I I think we we we can I'm not sure how we get the data for the, um Calculating the atr But calculating that the the number of contracts and and you know, whatever that's that's easy That's not an issue. This is just a 14 five minute atr wilders Yeah, I'm not sure how bookmap it would read that though. Um, there's no time frame in bookmap But I don't know. Yeah, it could import it from somewhere else too. It's possible. Yeah Yeah, I I I just wanted to mention it we we can look into it later Absolutely, that would be great too because if we come up with something I can you know offer that to the yeah Yeah, I mean why not marketplace where people don't have to sit there and you get the spreadsheet in my room But you know, like you said, it could be automated. Yeah. Yeah. I mean, it would be an add-on. Um, and you know, It would be on our marketplace Great idea All right, so sorry about that guys that was uh So really nothing else that's firing off. I was just sitting here watching paint dry Did have this trade on in gold from overnight. My room knows this trade. We put it on Um, this was important and this is another good example for chart learning reading This zone was extremely important here And I'll show you why right? This is where you have to understand the bigger picture, right? So we came down here not we hit goal Um, not too long ago July Insta rejection out of here, right and it was already here before and you can see here back in This was back in this is a year ago. Same exact thing got here. Here's your buying tail, right? Directional conviction no time spent here at all either one of those attempts then we come here Too long ago and I told my room when this was happening. I said something's up here It's now accepting this area. It went instant rejection instant rejection now We're accepting it and building balance balance balance. What did I just say? We're the two states of market balance or directional conviction So you get loaded up traders and then one side has to pew there you go So I already knew this was an important zone obviously And then it was an important zone from recency because this was the bottom of this balance area, right? One of the four important areas of trading There it is. There's a balance area so Some of the best trades out there are when you get straight huge directional Conviction moves. This is definitely directional conviction without pausing right into an important area Right, so we know all that and then when you get your volume say, no, that's an a plus trade Right at the close yesterday There was a stop run and I said I'm putting this short on and I'm holding it overnight and this thing Literally touched almost to the tip of the bottom of the zone Your stop winners right here and died and now it's kind of and I'm still I'm still short So I had a you know, I'll stop out. There was a bottom event today And I trailed money to see where my stop was overnight here because this thing's been running all night I trailed it down based on this volume event and you can see it just keeps the guys It's not a coincidence. This is market keeps testing this event, right? This is it. This is the edge knowing where these areas are So anyway, I'm still short that now that I talk about it You guys know how much I hate gold lately probably get stopped out But I'll still make a little bit and I took out to I took off two yesterday I'll just show you this here right now since nothing is going on Look at gold. So these are some of the areas that I get out of trades, right? So yesterday This came down so my short was right around So at the end of the day yesterday Right here we moved back to prayer or to yellow prior red area I got out of half of those and I said I'm gonna let half ride either stop me out or a blue lug Still hasn't gotten down here, but it's trying so it's that or a new volume event And then this morning a new volume one came in and I trail my stop based on the new volume of that And then I hold the trade. So it's either that or I stop out or another volume event that I can trail my stop So that's the gold trade and I just stopped out of my ES So I took a small loser just half of half of my risk what I usually risk on a trade So that sucks, but we are long Mr. NQ Again, I didn't it's not like I put this nasaq trade on Because I was afraid of the nasaq of the ES ripping up. I had a new I had an event that was an embellish event Okay, and there you go. Not a coincidence that it stopped right there Actually, I take that back that was that was already here But the way we took this aggressively because we bounced off the blue lug, right? That's why I took this aggressively. Otherwise, I would have been waiting for below the yellow lug For below the yellow lug, I wait for the volume set up Then I wait for a retest failure this one. I took aggressively out of there Because of that we bounced off the blue lug. That's how powerful those luggies are But we got a volume event at the blue lug. So I took it aggressive But normally I'd be waiting for this and this still is probably going to happen. Trust me Watch it all day every day but The way we're long that I lost a little bit in the s And I went for the throat, right? I added to that trade and I was going to add again Speaking of which, let's cancel this but you know, I went for the throat here and if This is trading, right? I took a small loss if I'm right on that thing I make I make 10 grand plus probably right? So it's like That's what you're looking for. You're looking for that big outsize move and you know I took a small loss on the next one and then eventually you're going to get the trending day And that's one of the five to 10 days for the year that's going to make your entire year And that's what trading is if you think it's if you think it's something where I scare it all the time Well, my goal is to you know, I want to make 500 bucks a day Yeah average you can absolutely do that. You can make 1000 you can make 5000 a day average You're not going to make $500 every day. It's never ever ever ever going to happen Because that's just not how markets work, right? One day you're going to make two grand another day You're going to lose a grand one day you're going to make three grand another day You're going to lose 700 bucks that's trading. It's not a consistent income every day And if you think it's otherwise you're in the wrong business All right So no questions on any of that and no questions on why I couldn't read numbers slapping me in the face Nothing like that pruce I mean you're really setting it up for me to to to ask some Questions that don't exist, but I'm not going to do that to you Anyway, it could be it could be good fun. Um, no no no questions. We're all good Scott Okay, so now you see where we're coming back to this is an important area here one Directional yellow prior blue on the lugs It's a confluent. I love when the lugs are confluent something. It's probably related. Obviously. I mean this is prior to your information You know, we get I had a couple guys in my room. They like well, I can't I'm not going to trade off them If I don't know what they consist of It's listen. I don't I never trade off stuff that I don't really know what's going on But when you watch something work for a year and a half almost two years You stop questioning you say, okay, they work, you know, I have a strong feeling and they're not pivot points They have something to do with market profile and whatever else she uses that's hers. That's her thing This is why you know, they're they're proprietary but I just know they work I use the analogy every single webinar when you walk in a room and you need light you have to unscrew You unscrew the light bulb and break down the light bulb and look at the filament and try to understand why you're getting light Or do you just want the light? Okay? I don't need to know why these work. I know or how they work I know they work, right? So that's all I need to know and they work exceptionally well with the volume events, right and then even better when you get Love's volume event and important areas that we've been talking about this whole webinar So this is another important area. What's the story for today? This market Most here yesterday Apped down right in here covered the whole thing. That's what markets are supposed to do That's the tendencies when they enter back in a value area market profile compositing value area This is a three or four day value area the tendencies to get to the other side Well, this went straight to the other side and down through it. Now, what are we doing? All we're doing is we're testing back here So if I got a volume event right here that in my mind would be an a plus trade Especially confluent with this stuff I would I could trade double size there, right? So This is what I'm talking about if you're just patient and you know your areas And you know what to wait for then you're like a sniper sitting in the weeds Wait you wait and then you get you now you're like, okay So you see I'm not putting on a trade just because we're here I still need my main driver my volume event if I get it then it's go time, right? And you know for some reason if this can get back inside here. Well, that's information as well In my mind if this market obviously it's pretty Um, it's common sense, you know, this should fail if this gets back in here something's up And we're probably coming back up and then that what we talked about for this view Something's up, right this these look like these markets should go to zero today Exaggerating but they look like they should at least move down into the area if this market holds and comes back here I'm telling you the subsequent move is going to be At least twice as So but as of right now, like I said, what are we doing it right here? I mean the hour's not completed, but it looks like we're putting in a buying tail. Well that right there is telling me Why are we putting in a buying tail when this thing is already shown that it should die, right? So that now I'm already on alert. Okay I'm still in short bias But if this thing starts to do this and gets back up through the side buying node This thing is going to do that in my opinion. So but as of right now, I'm still leaning short And now I wait, right Nothing's going on completely dead now. I guess the markets aren't used to You know 15 fed guys not talking in a day. So maybe that's why nothing's going on. Yes, the last two days have been absolutely ridiculous I'm talking six seven guys both days It's just I I've never remember in my 20 plus years of training Fed speakers not stop all day long. I just I just never remember that up until this last year. So All right, so we're just waiting Some targets here for the NASDAQ this thing starts rolling up again It would not surprise me one bit to see if this come back and retest this volume event as long as nothing new comes in That room should be taking advantage of that with our new strategy There is a question here from adrian Uh, do you read uh important relative volume on the extended trading hours? Uh, like seven to eight a.m Sometimes the threshold goes goes to form. So that's actually one thing we didn't look at I trip about it every webinar. It's very important, right? You want to absolutely so we saw yesterday market And last night actually look at this relative volume Guys, there's a reason this market did this overnight These are you can do the same thing as far as this obviously it's a much bigger zone But this basically started here up to here I'm following this stuff Basically down here, right and I tried to hold what what is this? Well, these these are just loaded up traders That's what this is somebody was selling this aggressively. Well, somebody was buying it Passively, but somebody was still buying it. So whenever you get to move out of here That's the big move and then you get the pukes This is whoever took these orders overnight are like, oh crap. We're wrong puk puk puk puk puk This is the same It's all the same stuff. It's just a different way of looking at it, right? Book map you get the icebergs and the stops, but this is High heavy relative volume for this time and I you can see is trading almost five times normal You can bet whatever way this broke out of here was going to be a big move and you got a big move You got a 70 point move out of here About 50 points, but still it's a big move So yes, absolutely and then night before there was the same thing Let's see This was during the day yesterday Wait now. This was what's the day today? Oh, yeah, this was this was the night. This was ridiculous. I don't know what happened yesterday Or the night before last You're talking almost 20 times normal line something went down here and you can see what what happened when you get out of here Hey, look it did the retest and then launched All right, so absolutely guys. This is this all the same It's just a different way of looking at it. You're looking just keep it simple stupid You're looking for areas that traders are loaded up and when it gets out of there Just think if you're the big trader here, you're like, oh, this market's going to zero. I'm going to put in 14,000 contracts and they could take them all and then you get short and you're like, yeah, I think I got them and then it does that You're like, um, yeah, I guess I wasn't right. I need to get out of my trade It's all this is over and over and over if you're going to identify the areas Knowing this and then obviously you can even get more micro with the book map stuff. That's the edge That's what trading is. I don't care how many damn lines you have on your chart They don't mean a single thing unless the market the real-time volume is agreeing with those areas Period That's what traders get. They are always looking for this magic bullet this magic indicator There is none. Yeah, some work sometimes some work more more often than other But they're only working is if the real-time volume if the real-time players are agreeing with that area Period, that's it. That's what trading is Any market Especially futures futures we get this you don't get this information You guys every webinar I came back. I was jaded from trading futures I went from making millions to couldn't make a dollar when I got back in the business. Dr. Brett steenbarger Bruce mentioned him earlier He actually called me and said you want to check out this book map program Incredible way it reminds me the way you used to view Marcus because he sat behind me for a year when he wrote it Wrote the book and answering trader performance to see what made me how I was making so much money Like what what I was doing and he's like this reminds me of how you used to trade the minute I saw this I'm like I'm back and that was with stocks and then they came out with this And Bruce kept telling me about it telling me about it and I didn't for like three months I didn't even look at it and then when I looked at it. I'm like, oh my god. This is the most powerful thing I've ever seen I'm going back to futures So leaves me the other thing if you heard in the beginning of the webinar Bruce said When Bruce says certain things like with inflection about or certain adjectives like amazing You will want to pay attention and you want to check how that indicator because he does not see it very often Right and that's how he was with this and he kept telling me about it. I'm like, yeah, yeah Yeah, I'll look at it. I'll look at it and when I looked at it. I'm like, oh my god Right same thing. I haven't checked out these new ones, but I'm going to check them out If he's talking like that. There's some there's something behind it. That's all I gotta tell you Yeah, this is it's a new new thing. It's with mbo data as well It's called trader map pro But you guys you'll get an earful of it soon enough But it's it's pretty cool. You'll be able to separate out larger Trades or liquidity that's in the order book And understand the the behavior of these traders and it includes the risk. I'm sorry includes the spread So so for example, I saw it. I was just testing it out this morning And sorry to take away from your presentation scott. Just I just want to kind of if nothing going on Don't worry about it. Oh, okay. I just wanted to kind of preface it in some of these ways because It's amazing to see this like during What was it at 8 30 this morning? We had A bunch of different things come out at What was it? hold on a minute At 8 30 we had At the final GDP So obviously the market's gonna and unemployment claims It's gonna be, you know volatile Well, you'll see the spread widen out with the mark with the liquidity of larger players And the market went right to it So, you know, this is going to provide you even more transparency into the behavior of larger players There's a lot of liquidity in there that it is one and two lots Being able to filter that out In a different view is going to going to offer something I think special It's awesome Yeah, yeah, we'll we'll we'll you'll see more soon about that cool All right, so I'm just Sitting in this trade again I will not surprise we already said that one bit to see this retest this zone because that's what these markets do Hopefully my room is involved in this trade Doesn't mean it has to but very likely it'll retest this volume event because I was pretty major volume You had 400 buy-is down here There's nothing going on, you know, you want to always keep an eye on The relative volume, but there's nothing going on. So now it's I'll go it's I'll go time All right, and that's when they start whipsawing all these traders Right and making them second-guess their positions. So this is barely at normal 100% is normal And I mean look at ES. I call bad this trade. That's actually that's right. This isn't right I'm in the wrong time period That's really bad Still not great. I mean, it's not terrible, but it's still barely over 100% right so And remember this relative volume chart is showing you the exact five minute period for time period for the last 30 days, so this is showing me right now the You know 905 or 1005 time period for the last 30 days That's what I want is that's how I want to view the relative volume So I think that's the most important way to view it Yes, December stocks top by ES 630 contracts. All right. So now we got a new event December stocks top by NQ 155 contracts first and foremost Because I have a trade on in here now. Now. What can I do anybody tell me what I can do here on this new event? I'll let someone try to answer and then Bruce you can tell me he'll be put on the spot All right, I'm waiting Anybody know I have a position on here's a new event. What can I do with this new event? First and foremost I knew I was going to jinx that gold trade as soon as I showed it sitting in it for literally 18 hours Is there any answer that what I'm doing with my trade here? Uh, we have my bow says you can trail your stop Very good bow. You are a plus you get the a plus. You're the teacher's pet for the day Even more sad that none of my room members said anything that makes me very sad. They all get fs All right. So the bottom of this zone is now We'll actually just put the zone in and be precise 29 Let's see if I can do this right this time 11 229 75 Let's go to our spreadsheet 25 and then oh, there's a bank of England guys talking, right? Yeah, I wasn't going to interrupt you. Uh, uh, jeremy has been saying like, yeah, you know, bank The boes is uh, they're buying they're buying bailing out pension funds basically and uh, there's a lot of a lot of stuff going on 320 that's why everything's firing off, right? That's why this is new information coming to the market. You got to be careful Um, the top of the zone was 11 86 All right, so it doesn't matter now anyway because we haven't known that It's pretty close but you could see the sell ice come in it's 163 And also for my room if you did take the trade I was just talking about you should have known based on the squat The bank of England guy was talking and you had to be careful holding trades when guys are talking Every day we talk about that it's new information hitting the market again Again, I didn't know what kind of impact look at all this buy so I was coming in here It's not a ton but I've seen this wave stuff before this probably just probably a lot behind us Anyway, it's new information coming to the market and you get new money in the market all bets are off You got to be aware of this stuff if you're trading Period, right? All right, so this is the new new setup I keep doing this and I keep forgetting to use my hotkeys too so I get enough Try this again Remember I I'm trailing based on the new setup that so this didn't I just say this was gonna I've seen this before when you see this weird wave This is gonna keep coming in here. You watch this is probably gonna be like three four thousand nice when this is all Send out I this happens like once a month lately We'll see wave wave wave wave. I posted One of my twitter feed This exact thing happened What's here? If you saw here, we only moved about a thousand points away from this area after I posted it by the way This wasn't the wave as much, but this is four thousand This was last this is September 21st. Tell me what happened after this one. This was like 4500 ice here 4500 plus All of this just kept coming in kept coming in kept coming in The fact came out it did do this it popped above here a little bit And then it just got killed over the next week thousand points You mean it's kind of important information to have right? All right Maybe I should stop chirping and put in my stop here So this looks like it's basically the bottom of this zone here this late this latest setup Yeah This was this was the last threshold setup. Let me get rid of this stuff real quick I'm trying to draw the most recent stuff here Interesting output there on the ice Very interesting. So obviously you're having to reset it one minute there, but uh, um, But they're very consistently Are you selling in there? Yeah, very very consistently selling That wasn't really a threshold there. So I'm just going to draw this. I'm sure it's going to keep coming in here But I'm going to drop based on this This last spike here So I'm going to draw that and I'm going to change it so we know it was sell ice And then I'm going to trail my stop. I'm going to put my values in and then I'm going to trail my stop on this long Based on this Clearly an ice algo right 11 to 40 is the bottom 46 25 is the top 40 11 25 is the top TR is now 3187 in the mountain area I do this correct So I would be stopping out. I'd be getting in if I'm getting in a position I'd be getting in at 1281 But we're just looking to stop off from the bottom of that zone so that I can stop out at 1205 So I'm basically going to scratch this train if it comes back, right? So 1205 shows me just outside an ATR from the zone. So instead of trying Right, it's an ATR plus 10 percent. So trying to figure that out in my you know, I can do it by hand But now I know the exact price. So I know I'm stopping out right here based on that spreadsheet right, so Then if I get stopped out, this is a whole other If this stops out, this will be a full ATR below here Then I could actually actually what I could do here because we're below the yellow I can end of this trade. I mean I can trade this To aggressively so this is what I'm going to do here. I'll show you here in a second So I'm going to stop out and I'm going to enter the short aggressively based on this new set up this black zone Why am I doing that aggressively because we're still below The yellow look and I take my trades aggressively out of the zone meaning just outside of an ATR ATR plus 10 percent outside of the zone So I will take that trade here And I'll watch closely at this blue. Uh, blue looks kind of close But it's still 50 points away from where I would enter. So I'm willing to take that trade. So we'll see But what just happened here? What did we just talk about? This is actually I should be trading double size here A plus area right Literally just came back up here It's failing. Yes I'm actually missing a trade in there. I'm sure maybe I can get over there in time This was the same thing This we just talked about this This is an area. See what just happened. What's the story you see? We already know that Sure, I had to get inside to failing again. We already know it looks like it's going to put a zero today On the structure stuff. So this is a great short opportunity I'll probably get stopped out of that long NASDAQ For a scratch, but I will be short then. Let's see. We've just fired off here. I'm sure I know something What was this? Is this a unicorn step? Yes, it is almost Let's give it a this this happened in the same area I think I'm missing a trade here too But it is what it is. It's really hard in webinars on one screen to catch all this stuff But you can see here. He had by stops. This was threshold 644. That's this here And then there was by ice with by stops. This is called step brothers Bruce claims he came up with it I don't believe it But it's the sixth setup that's coming out. That'll be in the new course So let's get this one Put put a I may put a poll in And if your students can Verify that telling you somebody in my room came up with it telling you I'm gonna put a poll in Do the insert you see that new commercial I can't remember what what it's for But they do they stop stop where they're at and they call for a replay and the guy comes in with a Like a little monitor and they look back at the incident to see who was right or was wrong No, I haven't seen it It's like an insurance commercial. It's pretty funny. Um, all right, so that's the Yeah, so I make it unicorn color. I think this is pinkish Purple pink. I'm colorblind. So I can't really tell but I know it's a pretty color like a unicorn Because you don't see it very often. All right, so that's that All right, so we're still alive in this one. Let's put our values in Um, top of the zone was 63. That's surprising it bounced right off that spot gamma level The bottom of the zone was 57 quarter 63 and 57 quarter Yes Hey, look the dummy. There's a dummy ATR is uh 9.28 very consistent today right around nine all day All right, so I could short it 36 47 I round down Actually around up like get up it I'll just get in 47 and then my Size is 2.6. I'll round up. What I'm three So this is going to suck getting it right in the middle of the zone. You could put it a little outside here I'll just do that because I I'll risk the extra three points because I don't like entering trades or stopping out in the middle of prior zones Right, do you see I mean you see this one was important. It bumps right off of here There right, so I'm gonna force this market to get through the zone before I short it So I'm I'm wanting to risk a couple extra points on it. That's what I'm saying So that is set up. I think we're already filled on Nasdaq. So I stopped I Basically scratched that long and now I'm short. I believe Yes, okay, so now We're trading off of this zone Instead of trying to figure out ATR and then look, you know where the zone is I already have this stuff inputted on the spreadsheet, right? So I just go over here So I know on the top of the zone. So I shorted here And I stopped out at 11 12 11 281 50 I round up Right Do I have the right size on? Yes, I got a two lot on And I'm risking 76 points. That's guys. This is just adapting to the volatility I don't like risking 76 points, but based on my strategies So we have to rest so that means I can only put on two I'm risking that amount And I stop out at 11 to 150 281 50. So my stop will go up here I don't like there's liquidity up there because we know how those are magnets, but That's not part of my trade plan as far as whether I put on trades or not so There you go. What I will watch closely is this area. This is the blue lug, right? If this can't get through here right away, I'm going to get out of this short And that's the prior zone too, which I'm sure it's going to go revisit because that's what these markets do Let's get back to bubbles All right, so we're Short nasdaq. I will reshort s&p. So this is how it works guys like I took a shot if this thing would have died first earlier I would have killed it Lost a little bit new setup right back in potentially Now it works. I of course jinxed my gold trade. I knew the minute I showed that I would get stopped out And I did and let's see if it's to the tick as usual Had this trade on for like 18 hours My stop is right in the middle of the swipe shockingly So you did have 500 stops or 300 stops, but I don't trade stops here anymore Usually I'm just I mean I trail my my stop on the on my position But I'm entering positions only if I see ice this market They've got to be the worst traders on the planet It is nothing but stop runs back and forth all day long But when I see ice then I pay attention and I'll trade it. That's that We'll short that there is nothing else going on. I cannot believe there has not been one setup been accrued today That I've heard You see what's down here So crew Joe someone we already talked about this a little bit, but you know, this is failing and this is potentially failing in this zone All right This is important This this comes back down here and gets to this high volume node Then we're coming down to this and this is a really really important area that I have here for like two years So it was resistance resistance I'm not going to go back for two years and show you all that but just not this was a really important zone Now if we come to it it's support If it gets back through it then Back to resistance That's about it any other questions first Let's see no No, I think we're uh, let me check discord. No, we're good All right, so what I'm watching here. I'll stay on a few more minutes up until probably 9 30 for your other guy that comes on Tom I'm watching this closely this blue lug. I know how important these lugs are And technically I took that trade aggressively. I shouldn't I'm lucky. I scratched it. I wait for actual tags I'm below. I had this two scrunched this chart to scrunched um I wait for actual tags to get in aggressively this didn't tag it so I should have waited for retest failure that first set up So I kind of made a mistake there on that entry. I mean I scratched it didn't matter But anyway, when we come back here now I'm watching this area very closely blue lugs at 39 75 and I also know that prior volume amount was right there too So I will be hopping out if I can't push through there And I'm really watching relative volume when it gets down to those areas because if there's no relative volume It's very very likely just going to bounce right off of there All right, so meaning I need to see if I'm going to try to hold that trade through that blue lug I need to see this kind of volume coming in. I need to see at least two times or more 200 or more right and you can see it's already pretty we're not down there yet But it's not very promising. So if that touches that blue lug I am are you getting anywhere near that blue lug? I'm going to be out and you see this is still sitting here, too This is also very important information. Look at this. We've talked about this already. This is still here How incredible is it that they can pick up that this order is still it's not completed? Talk about transparency. So you know right now, okay, this there is 400 here And they're still here that didn't actually once it executes it says e that means they're still Ice here when this comes down. That's pretty important information You can which I'm going to take it manage up this comes down here. I'm ready to just hop out of the stride I won't even wait for 30. I won't even wait for blue. I'll just get out because I know they're going to try to hold up the market again doesn't mean they will but I'll probably get out of one of them and see if we get down on the blue lug But if it starts to bounce away, then I'm going to I'm getting out How how incredible is it to know this knows this do you know that looking at at this? And let's see I have no idea what's going on here. I know. Hey, this looks like the market's going to die Do I know there was 400 by ice right here and the guy's still waiting the firm's still waiting to buy more That's pretty information pretty good information to know And again, this looks like it's going to die. So all these guys are shorting if it comes back I like yeah, we're going to go to zero or no, there's 2000 by ice there potentially and the market's going to do that Right, that's why yes, this stuff is important But this is this trumps everything Everything the real time buying There's just this market sir pretty dead today So another thing you want to see here things we look at in my room as well. Everyone has access access to this stuff Someone's asking about reading the It's not really pertinent to this webinar, but reading the TAS boxes Yeah, the TAS boxes. I don't trade off the TAS boxes anymore the lugs are you know TAS boxes on storage times 10. So I have them on my chart. I still I used to trade off of them But what is important? So for instance, this indicator is a TAS indicator. This is the edge. We talk about this every day This is showing you This is just showing you the many s and p Or the s and p and it's showing you all the stocks the 500 and how many are above their five minute TAS boxes In between or above below when you get markets that this is the 67 percent line when you get these This means that You know almost 90 percent of the of the TAS or of the s and p 500 stocks were below their TAS boxes Well when that happens the market reverts all the time So what I tell my room all the time is this isn't a red light green light It's pretty close But you don't want to be you know, it doesn't mean just buy blindly when this thing this red Pops above here, but you definitely don't want to be shorting because you get the snapbacks, right? So we'll give you an example here. This actually stayed up here for a while Um, and you remember a guy was we had all this nonsense fed talk earlier, too Not nonsense, but you know what I mean, right? You had all that this was this morning where I was hanging up there Where was it? Ballard was speaking And then we have this is what you want to pay attention to too now at 10 o'clock 12 o'clock essential We have another fed guide sure been ecb guide. Oh, there's another one here in 145 This is after the close, but it's I just cannot remember in my trading career that this happening. It's unbelievable Can't see yesterday. I was gonna show you yesterday. It was like 15 guys. I felt like This guy's still talking by the way How long could you talk? He started at like what time did he start? Where are we at? 6 30 he's been talking for two hours Crazy, um, so anyway what I was showing you here. Let's see what time this was This was 10 15 Eastern So that's 7 15 my time It was oversold It was right after we get on the webinar, right? Let's see what happened at 7 15 I'm gonna bet I already know what happened because I gotta stop my trade, but let's look Right around there Right there it popped Everything made a lower low going it's usually just does this right away But it did hang around remember the guy was still talking he's still talking But that's just a great way to monitor whether we're oversold or not. So you're not the minimum You're not initiating short positions. I actually this was another error on my part So I mean I've been making a lot of errors lately. This is one Oh This was oversold. Why did I why was I selling into that remember I added If anything I should not have added and I should have been ready to get out I added and this thing was oversold and this is what that looked like So I just cost myself. This was a losing trade for no reason Now that I look I just wasn't looking at it so much going on. So this let's see what time it was when I added to the trade Look at that was that right at 7 50. Oh, it sure was so this you know guys This is trading is hard enough. You can't be making it. I'm talking to myself. This is this is an f. This is an f minus What am I doing? I just didn't look at it. That's what I was doing There is no way I would have Added to this trade when that market was oversold like that And I probably would have been out that I would have just said, you know, I'm going to make an exception There if this pops above this above the zone, I'm out of my trade instead. I carry six all the way back up to 53 Which was another, you know 15 points away So this was just completely avoidable just by having that looking at that edge product, right? So this is a task product. You can see it in my room. This is not available to the public right now I don't know why but it's not but you can see it in my room But that was an error. I discussed myself I'm losing trade for actually no reason. I would have never added to that trade All I talk about in my room is to keep an eye on that thing I get an f as well So that was as tangent about the task boxes. I don't use them to trade off of but I do watch that edge edge product All right, let's check our nasty trade now. Now I'm getting upset that I did that that was that's just That's not acceptable pretty much This guy's still talking You So this is just bouncing around here probably until The next thing I a couple of an hour and a half. We'll see I'm still not filled on this So again, the edge is nothing, you know, now I can enter trades on that It's sickening. I miss that but you see this is like nothing you can see It's just basically the majority of the stocks are right in the middle of their boxes, so nothing's overbought or oversold. This is just f Someone was here. I tell them to punch me doing that. That's just not acceptable So you guys see I'm human. I make mistakes non-stop. I've been doing this forever It's all I do is stare at screens for nine hours a day And I still make I mean granted I'm on the webinar and I'm trying to watch a lot of stuff But that's no excuse. That's one of the number one things I look at To make sure I'm not initiating trades when the thing's over oversold or overbought Scott that's one of the aspects like in this webinar is it's really great. I mean like We see you take, you know winners and then when there are mistakes or some of the losers You know It's for it's real. I mean you're going over it. You're saying that this is learn from my mistakes or Learn from what I did wrong here and this is or this is you have to accept. This is trading. This is normal trading and It's fantastic. It's very very transparent and it's much appreciated Sure, I mean this is what I tell my room every day It's like you guys and you guys too you're seeing me in raw form like this is not You know like most educators showing you, you know They're not trading off the right side of the shark. They're they're scrolling back, you know Four hours and saying oh, this was a great long here. This is a great short I'm doing this real time, you know, and I'm trying to cover all these markets. I'm not making excuses I'm just telling you it's not it's it's difficult and you see me in raw form, right? You're in my room. I'm doing it twice a day every day. They see everything. They see my temper temper tantrums my complaining, you know, because I'm a real person. I'm an emotional person I'm a competitive person, you know But doing the webinars does keep me in check and that's why I love doing them because It helps me want to talk things out. It helps me think clear clearer And it helps me from breaking screens and making complete more out of myself most days because I've got to have some kind of Respectability, right? So that's why I love doing the webinars because You know, it keeps it kind of keeps me in check But I still go off the rails sometimes and I still, you know The owo is me all the markets against me so on and so forth because I'm a unit, right? And it's just And I'm trying to get better at it. We're talking in my in my room I'll give it to you guys, too You know, I usually keep reserve the stuff in my room, but this stuff's very important. You can actually see it right here See this I was actually going back over I haven't listened to this in a few years I actually had so this guy's called never Neville Goddard This is nothing to do with trading has to do with the way you think, right? Very very important because you create and you guys may think this is hocus pocus What this is the current form is the secret So the the chick that took that did the secret she basically stole this information from this guy This was made in like the 50s or 60s, right? So What it is is it teaches you how to think and I was referred to that by a million-dollar trader guy It was a multi-million-dollar trader That hey check out this book, you know, I did the audiobook you can buy it. You can read it as well He said check it out and what it is. It's not it's not about positive thinking It's about thinking like you're already There right, so how would you think right now all of you guys on this webinar? If you were a million-dollar trader Millions of dollars you can literally just turn off the screens right now and jump on your private jet and fly somewhere Like what would that feel like to you? So the whole key is Not thinking hoping for something. It's like you're already there, right? And if you keep acting like it's already present in your life, then it finally materializes or what's the word they use um Manifests right so I know it sounds crazy But when you listen to it and you really start thinking about it You're like you're like you're basically you basically make your you make your universe you make your life by how your mind works So what I was telling my room is and he's got two books The law and the promises of the other other one is feeling thinking is feeling or something just google his name neville Goddard So what I was telling my room is I've been going through a bad stretch of making mistakes um, you know getting ticked out stuff and so on and so forth and I said, you know what This reason I think this has happened to me is because I've fallen back into my old ways Where it's the negative Feeling negative thoughts thinking it's something bad is going to happen You know saying it to the universe like I guarantee this is a loser This i'm going to get ticked here stuff like I still have to fight against doing it But i'm telling you when that guy told me this was Guess when this was when this guy told me to listen to that book. It was right around 2017 He told me to do I listened to both the books. I started to do it all of a sudden Brett steenberger contacts me about book map I'm back right. I swear to god. That's exactly how it went down. I was you know Every day in a doctor's office kissing a doctor's ass Trying to make sales because I had to go out of the business because I couldn't make money because I didn't have an edge Right and then I started I did that I started thinking differently I started feeling like I was a multi-million-dollar trader again Literally out of the blue. Dr. Brett contacts me about book map Justice history. So I swear on my life. That's exactly how it happened So if you are struggling or you you have the negative self-talk Those books and let's know it may sound corny. I'm telling you it turned everything around for me And that's why I'm on here with you right now. So Yeah, we may have to do another like we did a a webinar some years ago with um A kind of a conversation with you and Brett, which was awesome, you know Maybe we'll see if we can arrange something like that again. I don't know if he'd be interested but uh Yeah, I thought it was really he's very busy. I'll talk to me So he works with solely hedge funds now, but I couldn't I couldn't run up by him to see if he wants to know another one Um, you know, he didn't tell me about the book Multi-million-dollar trader told me about the book right the point is You know and again, it's not it's not just wishful thinking you have to feel it and act like it's already happening But it's not I'm telling you it's not hocus-pocus and it's the most important thing I've ever done so And you know, yes, I have my roles in trading and I try to follow them to you know, We're not using emotion But you'd be surprised how many mistakes you start to make when you start to think negatively It just it's just and that's why I started bringing it up to my room Like you know what I have not listened to these books in a couple years this stuff's starting to happen again I'm finding myself talking negative non-stop as meant the mental part of trading is Probably the most important part as most of you already know so that's my advice to you is to listen to those books um, I am You know sitting in this trade my stops in stops me out move on other than that I'm watching down here where this father that occurred where this ice is still sitting in here as you can see waiting waiting for more and then the blue lug This is actually canceled. That's where I was gonna have to that trade Or put that trade on initially Other than that I'd be careful fed more fed talk at uh, noon and ecb at noon central. So Other than that, you know, we just put on this trade today, which I should have never this should have been a winner I should have been out and I should have never added that was a mistake But other than that pretty pretty dead day So hopefully you guys at least learn something if anything you take away is read those books First and foremost would be what my advice to you other than that I do this twice a day in my trading room You get to spreadsheet everything else where we're working on the new trade. It's pretty incredible as well. So So I got for you bruce Uh, that's plenty So, uh, excellent. Uh, yeah, thank you scott. Uh, and uh, let's see. Miss the author. What's the author again? Neville Goddard. Is that correct? Literally just will his name neville goddard There on the promise I think it was his first book and then I think feeling is the secret Our feeling is I can't remember here. It's right here. Just google his name. Yeah. Yeah, I think that's enough People will get it get it there. So if you need that information, um, and you can always this this will be it's recorded It'll be up immediately here. So Anyway, thank you scott excellent and We owe you, you know your your slot back from last weekend or last week. So we'll do a special event with you soon and Uh, yeah, look look forward to the next next event Awesome. Thanks for having me and I'll see you guys next week. All right. Thank you everybody Thanks