2022 ICT Mentorship Episode 7

Introduction to the ICT Mentorship 2022

The speaker welcomes viewers to the seventh episode of the ICT Mentorship on YouTube in 2022. This lecture will focus on daily bias and consolidation hurdles.

Daily Chart Analysis of NASDAQ

• The speaker examines the daily chart for NASDAQ on TradingView.

• They highlight a run-up in price that took out buy-side liquidity.

• There is a gap between a previous low and high, indicating potential trading levels.

Understanding Market Structure and Bias

• The speaker explains that when price trades below a previous low, it takes out sell-side liquidity and is likely to retrace back into the range.

• They analyze energetic runs and down close candles to determine current market conditions.

• Price has retraced back up into the range after breaking below a previous low.

Overcoming Challenges in Determining Bias

• Consolidation around equilibrium can make it difficult to determine bias accurately.

• More price action and information are needed to get a clear read on bias.

• The speaker shares their anticipation of a bearish move based on market analysis.

Importance of Overcoming Challenges in Trading

• Overcoming challenges is crucial when using these concepts in real trading scenarios.

• It is important to find ways to overcome conundrums faced during trading.

Anticipating Bearish Moves

The speaker discusses their anticipation of bearish moves in Tuesday's trading session based on their analysis.

Preparing for Bearish Moves

• The speaker mentions sharing their expectation with their paid membership about taking prices down from a specific area.

• They emphasize that whether prices go lower or not is irrelevant; what matters is anticipating certain moves based on analysis.

Dealing with Conundrums

The speaker explains how they had to overcome challenges during Tuesday's trading session and offers advice on dealing with similar situations.

Overcoming Challenges in Trading

• The speaker shares their personal experience of dealing with conundrums during trading.

• They suggest using demo accounts and low leverage to practice overcoming challenges.

• Overcoming challenges is essential for successful trading.

Understanding Bias and Market Structure

The speaker emphasizes the importance of understanding bias and market structure before delving into lower timeframes.

Establishing Bias

• The speaker explains that based on the daily chart setup, they anticipate lower prices each day.

• They mention that every day may not result in a down close candle but hunting intraday price action is important.

Leveraging Based on Bias

The speaker discusses leveraging strategies based on bias when taking trades counter to the anticipated direction.

Leveraging Strategies

• When taking trades counter to the bearish bias, leverage should be dialed back.

• The maximum leverage used should be determined by a fixed percentage basis, such as 3.5% of the account balance.

• It is advised to risk less than 1% or even lower if inexperienced to avoid creating bad habits and toxic thinking.

Analyzing Up Days in Bearish Moves

The speaker explains how analyzing up days or green candles within a bearish move can provide valuable insights.

Analyzing Up Days

• Counting the number of up days or green candles within a bearish move helps understand algorithmic behavior.

• Delivery by algorithms can cause directional expansion, leading to occasional losses when trying to go short on certain days.

Examining Price Action Patterns

The speaker discusses a specific price action pattern and its significance.

Price Action Pattern

• The speaker describes a scenario where price opens below the low, has a significant expansion move, and closes near the high or midpoint of the body.

• This pattern indicates potential market dynamics and can be used for analysis.

Timestamps are approximate and may vary slightly.

New Section

In this section, the speaker discusses the importance of letting go of the need to be right all the time and striving for perfection in trading. Embracing imperfection and understanding that being right does not guarantee profitability are key factors to consider.

Letting Go of Perfection

• The speaker emphasizes the need to overcome the concern of always being right and striving for perfection in trading.

• It is important to understand that achieving perfection is unlikely, as trades will never be executed perfectly and market conditions may not align perfectly with expectations.

• Traders should embrace imperfection and acknowledge that they don't have to know everything or be right all the time.

Daily Bias Interpretation

• Daily bias can be determined by analyzing the daily chart to anticipate future price movements.

• Traders should identify whether prices are likely to move higher towards old highs or lower towards old levels before making any decisions.

• It is crucial to recognize that daily bias does not guarantee perfect trades or avoiding losses.

Embracing Gray Areas

• Traders often seek a magic bullet strategy that predicts exact highs and lows, but it's essential to accept that no one trades perfectly.

• Experience helps navigate through gray areas where market conditions may not be clear-cut, but proper training minimizes fear even when trades result in adverse outcomes.

• A few losing trades do not diminish the effectiveness of a sound trading model based on logical principles.

Utilizing Daily Chart for Bias

• The daily chart provides insights into whether the next candle is likely to be bullish or bearish between specific price levels.

• Traders can take long entries intraday even with a bearish bias, but it is advisable to use lower leverage. Conversely, if a setup appears bearish, higher risk may be considered.

• When prices reach a significant low or high and fail to break through, it indicates a potential reversal or consolidation.

Intraday Trading and Liquidity Pools

• When market conditions become uncertain on the daily chart, traders should rely on smaller time frame intraday charts and focus on identifying liquidity pools.

• Intraday trading requires nimbleness and taking advantage of volatility by targeting old highs or lows.

• It is crucial not to overstay in trades and exit promptly after achieving desired points.

Analyzing the 15-Minute Time Frame

• The 15-minute time frame allows for more detailed analysis of price action.

• Identifying relative equal highs as resistance levels helps anticipate potential reversals or targets for trades.

• By observing previous price movements, traders can identify key levels that may act as support or resistance.

Timestamps are approximate and may vary slightly.

New Section

In this section, the speaker discusses the importance of understanding market context and narrative when trading. They emphasize the need to focus on the right side of the chart and how relying solely on concepts or approaches without a narrative can lead to analysis paralysis or false confidence.

Importance of Market Narrative

• Understanding market context and narrative is crucial for successful trading.

• Merely focusing on the left side of the chart is not enough; traders need to be able to execute on the right side as well.

• Lack of narrative can lead to false sense of security or confidence that may quickly evaporate when trading with a live account.

New Section

In this section, the speaker explains that one of the key aspects taught in their mentorship program is viewing the marketplace from a narrative standpoint. They highlight that it's not enough to simply observe price movements but also understand why those movements are happening.

Viewing the Marketplace from a Narrative Standpoint

• Traders should analyze not only how price levels are broken but also consider the greater context behind those moves.

• The speaker emphasizes teaching students how to view the marketplace from a narrative standpoint and understand why certain market actions occur.

• Having a logical understanding of market behavior is essential for making informed trading decisions.

New Section

In this section, the speaker discusses their analysis using a two-minute chart. They explain their entry points based on specific candle formations and highlight important price levels for setting stops and targets.

Analysis Using Two-Minute Chart

• The speaker utilizes a two-minute chart for their analysis.

• Entry points are determined based on specific candle formations, such as lows and highs.

• Important price levels are identified for setting stop-loss orders and profit targets.

New Section

In this section, the speaker reflects on their analysis and entry points in the chart. They emphasize that they didn't see anything specific in the chart itself but based their decisions on previous observations in a different market.

Analysis and Entry Points

• The speaker admits to not seeing anything specific in the current chart for their entry points.

• Their decision to enter a trade was based on previous observations made in a different market.

• The speaker highlights the importance of considering broader market movements and patterns when making trading decisions.

New Section

In this section, the speaker analyzes price action in the S&P market. They discuss how price moves below an old low, rallies above a short-term high, and then goes lower again. They also mention looking for liquidity areas and analyzing price details within specific ranges.

Analyzing Price Action in S&P Market

• Price initially trades below an old low, then rallies above a short-term high before going lower again.

• Volatility and sloppiness within certain price ranges are observed.

• The speaker emphasizes the importance of analyzing price details within specific ranges to identify potential liquidity areas.

New Section

In this section, the speaker continues discussing their analysis using a two-minute chart. They highlight candle formations indicating displacement lows and highs as well as shifts in market structure.

Analysis Using Two-Minute Chart (Continued)

• Candle formations indicating displacement lows and highs are identified.

• Shifts in market structure are observed based on these candle formations.

• The speaker compares analysis between different markets to gain insights into potential trading opportunities.

New Section

In this section, the speaker mentions that although they primarily focus on Nasdaq due to its volatility, they also keep an eye on the Dow and S&P markets. They highlight the importance of considering market averages and movements in tandem.

Considering Multiple Markets

• The speaker primarily focuses on Nasdaq due to its volatility but also monitors the Dow and S&P markets.

• Market averages tend to move in tandem, so it's important to consider their movements collectively.

• Traders may have different preferences based on their trading strategies and risk tolerance.

New Section

In this section, the speaker discusses trading strategies and the importance of understanding price action rather than relying on indicators.

Trading Close to Order Blocks

• The speaker mentions going long at 14:505, which is inside an order block.

• Some viewers have expressed disinterest in learning about order blocks, but the speaker emphasizes that they will teach it their own way.

• The speaker explains that they don't need a fair value gap in the Nasdaq because they are utilizing the S&P as their indicator.

New Section

In this section, the speaker addresses comments from viewers and emphasizes the importance of reading price action instead of relying solely on indicators.

Reading Price Action

• The speaker states that even though they don't have indicators plastered all over their charts, viewers can see candlesticks and understand market logic.

• They explain that the logic behind their trade is based on the S&P trading down into an old fair value gap while there is no fair value gap in the Nasdaq.

New Section

In this section, the speaker continues to discuss reading price action and using different averages to analyze market behavior.

Utilizing Different Averages

• The speaker mentions looking at three averages together: Dow futures, Nasdaq futures, and S&P.

• They point out that during a decline in Nasdaq and S&P, Dow shows reluctance to make a lower low.

• This divergence in correlation can be an important signal for traders looking for cracks in correlation between different markets.

New Section

In this section, the speaker explains how they use Dow as an indicator and look for specific patterns to confirm their trading ideas.

Confirming Trading Ideas

• The speaker uses Dow as an indicator, referring to it because they have multiple monitors and can observe the relationship between all three averages.

• They look for periods of accumulation for long positions and pay attention to the Dow's behavior in relation to old lows.

• The speaker emphasizes that this pattern confirms an idea that was already established before price action occurs.

New Section

In this section, the speaker discusses how cracks in correlation between different markets can provide insights for traders.

Cracks in Correlation

• The speaker explains that when Nasdaq and S&P trade below their old lows, but Dow does not make a lower low, it indicates a crack in correlation.

• This observation can be significant for traders looking for opportunities to go higher or lower based on market structure and patterns.

New Section

In this section, the speaker addresses questions about predicting fake breaks below old lows or above old highs.

Predicting Fake Breaks

• The speaker acknowledges being questioned about predicting fake breaks below old lows or above old highs.

• They mention a pattern called "turtle soup" but clarify that it is not the same as taught in other resources like Lunaresch and Larry Connor's book "Street Smarts."

• The speaker has their own interpretation of patterns and looks for runs above old highs to set up short positions.

New Section

In this section, the speaker emphasizes the importance of understanding market conditions and using personal interpretations of patterns.

Personal Interpretation of Patterns

• The speaker mentions that many students have tried to replicate their trading based on seeing certain patterns without fully understanding them.

• They encourage students to develop their own interpretations while still supporting authors by purchasing relevant books.

• The focus is on looking at market conditions, such as runs above old highs, to make informed trading decisions.

The transcript provided does not contain any further sections or timestamps.

New Section

In this section, the speaker discusses the importance of understanding patterns and indicators in trading.

Why Patterns and Indicators are Important

• Understanding patterns and indicators is crucial for developing traders who may not have experience in reading price action.

• The speaker emphasizes that relying on indicators such as moving averages, stochastic, and Fibonacci is unnecessary.

• The pattern discussed confirms the accumulation of long positions.

New Section

In this section, the speaker explains how the Dow's unwillingness to go lower indicates a macro algorithm at play.

Unwillingness to Deliver

• The Dow's unwillingness to go lower does not mean buyers are coming in; it signifies an algorithm preventing or enabling delivery of price.

• This macro algorithm affects multiple markets simultaneously, such as Nasdaq and S&P.

• The importance of time is highlighted by referring to previous lows and liquidity below them.

New Section

In this section, the speaker discusses trade entry signals and the need for accepting losses in trading.

Trade Entry Signals and Accepting Losses

• A swing high breaking indicates a shift in market structure towards bullish.

• Fair value can be determined by looking back through price legs.

• Traders should understand that losses are part of trading and should not fear being wrong.

• Negative numbers in a live account can be seen as premium payments for gaining more information.

New Section

In this section, the speaker provides context for their live trading account.

Context for Live Trading Account

• The speaker shares their live trading account with recent trades made that morning.

• They mention having expectations for a move lower but acknowledge a sloppy opening at 9:30 am characterized by volatility.

• The speaker emphasizes the importance of understanding the context behind the chart and not engaging in armchair quarterbacking.

New Section

In this section, the speaker discusses insights learned from floor traders and emphasizes taking action rather than criticizing others.

Insights from Floor Traders

• Insights were gained from a floor trader who traded S&P on the floor, as well as from Larry Williams and George Angel.

• George Angel's concept of disconnect and trying to understand price action is highlighted.

New Section

In this section, the speaker explains how traders would try to understand price action when there was a disconnect.

Understanding Price Action Disconnect

• When there was a disconnect in understanding price action, traders would attempt to make sense of it.

• This approach aimed to gain insights into market behavior during times of uncertainty.

Understanding the Importance of Putting Skin in the Race

The speaker emphasizes the importance of putting real money at risk when trading to gain a better understanding of market behavior. They explain that even a small order can provide valuable insights into price movements and help traders develop their skills.

Importance of Trading with Real Money

• Putting skin in the race by trading with real money allows for a greater understanding of market dynamics.

• Even a small order can provide valuable feedback on how price reacts and moves around it.

• Watching price deliver around an order helps traders get a feel for market behavior and develop their ability to read price movements.

Testing Waters and Reading Price Movements

The speaker discusses their approach to testing waters by placing orders in the market. They explain that this strategy helps them gather information about price movements and make more informed trading decisions.

Placing Orders to Gather Information

• Placing orders, even without trying to pick specific entry points, provides immediate feedback on how price reacts.

• By observing how easily or lethargically price moves away from an order, traders can gain insights into market sentiment.

• This approach is more effective than solely relying on chart analysis because it allows traders to actively engage with the market.

Benefits of Having Skin in the Game

The speaker addresses potential criticism regarding placing orders without trying to pick specific spots. They highlight the benefits of having real money at risk, such as increased attentiveness to price movements and improved learning compared to using demo accounts.

Benefits of Having Real Money at Risk

• Placing an order without trying to pick a spot allows traders to focus on reading price movements rather than being preoccupied with making or losing money.

• Having real money at risk creates a feedback loop that makes traders more attentive to market behavior and familiar with reading price movements.

• Learning with a demo account has limitations as there is no real emotional connection or sense of risk involved.

Focusing on Price Movements, Not Equity

The speaker emphasizes the importance of focusing on price movements rather than equity when placing orders. They explain that this approach helps traders develop their skills in reading price and understanding market dynamics.

Importance of Focusing on Price Movements

• When placing an order, the focus should be on how price delivers around it, not on the equity or potential profit/loss.

• Observing how price easily or lethargically moves away from an order provides valuable insights into market behavior.

• This immediate feedback loop helps traders become more skilled at reading price movements compared to solely relying on chart analysis.

Limitations of Learning with Demo Accounts

The speaker discusses the limitations of learning with demo accounts and highlights the benefits of placing real orders in the market. They explain that testing waters with real money provides a better feedback loop for learning and decision-making.

Limitations of Demo Accounts

• Demo accounts lack the emotional connection and sense of risk associated with trading real money.

• Placing a trade with a demo account does not provide the same level of feedback as having something at risk in the marketplace.

• Testing waters by placing real orders allows traders to gather more meaningful information about market dynamics.

Sacrificing Initial Moves for Bigger Opportunities

The speaker discusses their approach to trading and explains that they are willing to sacrifice initial small moves for bigger opportunities. They highlight the importance of adapting to market conditions and not being biased towards a specific direction.

Adaptability in Trading

• When hunting for bigger moves, traders may need to sacrifice initial small runs or drawdowns.

• Market conditions can change, and it is important to adapt to new information rather than being biased towards a specific direction.

• Building a trading plan based on preferred scenarios helps guide decision-making but should be flexible as market dynamics evolve.

Uncertainty in Predicting Market Moves

The speaker acknowledges the uncertainty of predicting market moves and emphasizes the importance of adapting to new information. They explain that no one can accurately predict future price movements.

Uncertainty in Predicting Market Moves

• No one can accurately predict where price will be at a specific time in the future.

• Traders should focus on their preferred scenarios based on available information but remain open to adapting their strategies as new information emerges.

• Building a trading plan around preferred scenarios helps guide decision-making but does not guarantee accurate predictions.

Using Initial Contracts for Information Gathering

The speaker discusses their strategy of placing initial contracts in the market to gather information about price movements. They explain that this approach helps them make more informed trading decisions.

Gathering Information with Initial Contracts

• Placing initial contracts allows traders to gather valuable insights into price movements and market behavior.

• By analyzing the relationship between the initial contract and price movements, traders can gain a better understanding of market dynamics.

• Sometimes these trades result in profits, while other times they may lead to small drawdowns. However, the goal is not immediate profitability but rather gathering information for better decision-making.

Importance of Feeling Price Movements

The speaker emphasizes the importance of feeling price movements and the limitations of demo accounts in providing this experience. They highlight the value of putting real money at risk to develop a better understanding of market dynamics.

Importance of Feeling Price Movements

• Placing real money at risk creates a stronger connection to price movements compared to using demo accounts.

• Demo accounts lack the emotional aspect and do not provide the same level of feedback as trading with real money.

• Putting something at risk in the marketplace helps traders develop their skills in reading price movements and making more informed decisions.

Learning from Experienced Traders

The speaker mentions George Angel's writings and suggests that experienced traders have also used similar strategies. They emphasize the importance of gaining insights through personal experience rather than relying solely on theoretical knowledge.

Learning from Experienced Traders

• George Angel and floor traders have suggested similar strategies of placing orders to gather information about market behavior.

• Implementing these strategies can help traders gain valuable insights into price movements and improve their decision-making abilities.

• Personal experience and actively engaging with the market are crucial for developing trading skills beyond theoretical knowledge.

Limitations of Demo Accounts

The speaker reiterates the limitations of learning with demo accounts, emphasizing that there is no real emotional connection or sense of risk involved. They highlight the importance of putting something at risk in the marketplace to truly understand market dynamics.

Limitations of Demo Accounts

• Trading with a demo account lacks the emotional connection and sense of risk associated with trading real money.

• Placing trades with a demo account does not provide a genuine feedback loop for learning and decision-making.

• To truly understand market dynamics, it is important to put something at risk in the marketplace rather than relying solely on simulated trading experiences.

New Section

In this section, the speaker discusses the importance of latency testing and feedback timing in trading. They mention that timing is crucial for their algorithmic trading strategy, as they anticipate the account to grow beyond one contract. The speaker also emphasizes the significance of understanding how fast they can ramp up their trading activity.

Latency Testing and Feedback Timing

• The speaker conducts latency tests to measure feedback timing in placing trades.

• They focus on factors such as order placement speed and slippage.

• The timing is important for their algorithmic trading strategy, especially as the account is expected to grow.

New Section

In this section, the speaker explains their need to determine how quickly they can increase their trading activity. They consider whether it will take a longer time frame to build up before pressing harder. Additionally, they highlight that all trades shown are based on one mini contract due to leverage and margin limitations.

Increasing Trading Activity

• The speaker needs to assess how fast they can ramp up their trading activity.

• They consider if it will take a longer time frame to build up before increasing intensity.

• All trades shown are based on one mini contract due to leverage and margin limitations.

New Section

In this section, the speaker mentions that limitations prevent them from taking more than one contract. They provide an update on the current account balance, which stands at $37,823.15.

Limitations on Contract Quantity

• Limitations prevent the speaker from taking more than one contract.

• The current account balance is $37,823.15.

New Section

Here, the speaker addresses a request for trade history verification by showing recent trades taken in the account. They explain that they prioritize significant price moves and focus on trades with more intraday significance.

Trade History Verification

• The speaker shows recent trades taken in the account.

• They prioritize significant price moves and focus on trades with more intraday significance.

New Section

In this section, the speaker justifies their approach of paying $750 for a trade, emphasizing their focus on significant price moves. They mention teaching a high-frequency trading style that outperforms algorithms promoted on platforms like YouTube.

Focus on Significant Price Moves

• The speaker justifies paying $750 for a trade by focusing on significant price moves.

• They teach a high-frequency trading style that outperforms algorithms promoted online.

New Section

Here, the speaker discusses the potential profitability of scaling up trading activity. They suggest that as one builds up to ten contracts, it becomes easier to make three to five thousand dollars per day based on the results shown in their trades.

Scaling Up Trading Activity

• As trading activity is scaled up to ten contracts, making three to five thousand dollars per day becomes easier.

• The speaker refers to the results shown in their trades as evidence of potential profitability.

New Section

In this section, the speaker explains how they test whether there will be a run in the market before taking a trade. They emphasize gathering information and using it to analyze patterns and setups across different markets.

Testing Market Conditions

• The speaker tests market conditions before taking a trade to determine if there will be a run.

• Gathering information helps them analyze patterns and setups across different markets.

New Section

Here, the speaker emphasizes the existence of patterns that form daily across various markets. They highlight the importance of looking for these patterns and not limiting analysis to a single asset class.

Patterns Across Markets

• Patterns form daily across various markets.

• It is important to look for these patterns and not limit analysis to a single asset class.

New Section

In this section, the speaker discusses inter-market relationships and how they use feedback from other markets, such as the Dow and S&P, to inform their trading decisions. They emphasize the importance of understanding consolidation hurdles and how they approach them.

Inter-Market Relationships

• The speaker considers inter-market relationships in their trading decisions.

• Feedback from other markets, such as the Dow and S&P, informs their analysis.

• Understanding consolidation hurdles is crucial in their approach.

New Section

Here, the speaker explains how they use contracts to gain insights during consolidation periods. They mention that drawdown is not a concern for them as they can fix it at the end of the year.

Using Contracts During Consolidation

• The speaker uses contracts during consolidation periods to gain insights.

• Drawdown is not a concern as they can address it at the end of the year.

New Section

In this section, the speaker shares their goal of having no losing days in trading. They acknowledge that achieving this goal may not be realistic for new traders but emphasize their ability to correct drawdown over time.

Goal of No Losing Days

• The speaker aims to have no losing days in trading.

• Acknowledges that this may not be achievable for new traders.

• Emphasizes their ability to correct drawdown over time.

New Section

Here, the speaker discusses latency testing with TD Ameritrade and the importance of understanding how fast they can fill orders and the potential slippage. They highlight that as trading activity increases, these factors become even more significant.

Latency Testing with TD Ameritrade

• The speaker conducts latency tests with TD Ameritrade.

• They focus on understanding order filling speed and potential slippage.

• As trading activity increases, these factors become more significant.

New Section

In this section, the speaker briefly mentions the current account balance and emphasizes that $13,927 is not a substantial amount of money. However, they highlight that achieving a 51% return in two weeks is noteworthy.

Account Balance and Return

• The current account balance is $13,927.

• The speaker acknowledges that this is not a substantial amount of money.

• Achieving a 51% return in two weeks is considered noteworthy.

New Section

Here, the speaker poses a question about whether a monthly return of $20 would be considered respectable. They mention conducting a poll where most respondents answered affirmatively to this question.

Monthly Return Assessment

• The speaker asks if a monthly return of $20 would be considered respectable.

• A poll conducted by the speaker indicates that most respondents answered affirmatively to this question.

New Section

In this section, the speaker emphasizes the importance of hard work and honesty in trading. They discuss the need to focus on making money and improving one's financial condition rather than seeking validation from others.

Being Honest with Yourself

• The speaker highlights the significance of being honest with oneself and not assuming perfection in trading.

• They emphasize that perfect trading does not exist and that traders should focus on making money rather than impressing others.

• The speaker encourages traders to stay focused on their goals and financial improvement.

Realistic Expectations

• The speaker advises against expecting huge profits in a short period but suggests aiming for smaller financial milestones like paying bills or mortgage payments.

• They share their personal experience of setting a goal to save $1,000 per month by their 40s as a realistic target.

Sustainable Trading Approach

• The speaker contrasts unsustainable claims made by some traders on YouTube with their own consistent weekly earnings of $6,000.

• They express confidence that most traders can live comfortably with such earnings but acknowledge market volatility as a factor.

• The speaker explains how negative trades provide valuable insights for informed and seasoned traders who invest in their own learning process.

Investing in Self-Knowledge

• Traders are encouraged to view investments in themselves as opportunities to gain deeper insights into market behavior beyond price action analysis.

• The speaker emphasizes the importance of context when evaluating someone's trading statements, highlighting the need to consider chart analysis alongside profit/loss records.

Learning through Experience

• The speaker shares their approach of using trades as a means to gather information and develop a better understanding of market trends.

• They acknowledge that not all traders may adopt the same style or trade with the same amount of money, but emphasize the value of gaining experience through practice.

Timestamps are approximate and may vary slightly.

New Section

In this section, the speaker discusses the importance of understanding profit and loss in trading accounts. They clarify that deposits made by traders are not reflected in the profit and loss category. The speaker emphasizes that comments suggesting otherwise on the internet are incorrect.

Understanding Profit and Loss

• The speaker explains that money deposited into a trading account is not shown in the profit and loss category.

• Comments on the internet suggesting otherwise are misleading.

• Brokers would never reflect deposits in the profits and loss category.

• The speaker mentions that organizations like the CFTC would take legal action if profits were not real.

New Section

In this section, the speaker addresses misconceptions about adding money to a live trading account. They emphasize that comments suggesting they are adding money to their account are false, as demonstrated by logging into their live account during a previous video.

Misconceptions about Adding Money to Live Account

• People commenting on videos have no idea what a live trading account looks like.

• Adding money to an account does not reflect as editions or changes in profits.

• Logging into a live account disproves claims of adding money for profit adjustments.

New Section

This section focuses on clarifying that profits shown in trading accounts are real. The speaker highlights that organizations like CFTC would take legal action if profits were not genuine.

Real Profits in Trading Accounts

• Profits shown in trading accounts are real and reflect actual earnings.

• Organizations like CFTC would come after individuals if profits were not genuine.

• It is important to understand that profits displayed represent tangible gains.

New Section

Here, the speaker discusses their intentions with regards to their trading account. They clarify that their goal is not to reach a million dollars, as they believe it is unrealistic for viewers to expect the same results.

Realistic Expectations for Trading Account

• The speaker does not aim to grow the account to a million dollars.

• They acknowledge that achieving such results may not be realistic for viewers.

• Some students may excel while others may struggle in trading.

• The speaker emphasizes teaching strategies and logic rather than showcasing personal achievements.

New Section

In this section, the speaker acknowledges that some viewers may achieve exceptional results but highlights that their teachings are based on providing logical strategies rather than promising identical outcomes.

Individual Results and Teaching Strategies

• The speaker acknowledges that some viewers may achieve impressive results.

• However, they cannot promise identical outcomes for everyone.

• Teaching strategies and logic are emphasized over personal achievements.

• Viewers should focus on learning from the provided examples and applying logical approaches.

New Section

Here, the speaker explains their approach to trading with expectations of occasional drawdowns. They highlight the importance of being able to recover from drawdowns and demonstrate real-world examples through statements at the end of each year or month.

Dealing with Drawdowns in Trading

• The speaker expects occasional drawdowns in their trading account.

• Recovering from drawdowns demonstrates real-world help and application of taught logic.

• Statements at the end of each year or month provide tangible evidence of recovery from drawdown periods.

New Section

This section focuses on how observing someone successfully using logical approaches during losing streaks can provide valuable guidance and motivation for traders facing similar situations.

Learning from Losing Streaks

• Observing someone successfully using logical approaches during losing streaks can be helpful.

• The speaker aims to demonstrate how logic can correct intraday drawdowns.

• Providing real-world examples helps traders gain confidence during losing streaks.

New Section

In this section, the speaker highlights a specific trade and demonstrates the entry, exit, commission costs, fees, and return. They emphasize that such trades are meant to teach by example rather than showcasing unrealistic achievements.

Teaching through Example Trade

• The speaker presents a specific trade with details of entry, exit, commission costs, fees, and return.

• The purpose is to teach by example rather than showcase unrealistic achievements.

• Viewers should focus on learning from the demonstrated strategies and logical approaches.

New Section

Here, the speaker addresses viewers' potential doubts about their ability to achieve similar results. They reiterate that while they believe dedicated students can trade successfully using their mentorship program, individual results may vary.

Achieving Similar Results

• The speaker believes dedicated students who have studied their mentorship program for a year can achieve similar trading results.

• However, they acknowledge that not all viewers will be able to replicate those outcomes.

• The emphasis is on teaching logical approaches rather than making promises of identical results.

New Section

This section focuses on demonstrating how the S&P is used to time NASDAQ trades. The speaker provides historical data as evidence of their approach.

Using S&P for Timing NASDAQ Trades

• The speaker demonstrates how they use the S&P to time their NASDAQ trades.

• Historical data is provided as evidence of this approach's effectiveness.

New Section

Here, the speaker showcases an actual trade with entry and exit points along with associated costs and returns. They aim to provide tangible proof of their trading strategies.

Showcasing an Actual Trade

• The speaker presents a specific trade with entry and exit points.

• Commission costs, fees, and return on investment are also shown.

• The purpose is to provide tangible proof of the effectiveness of their trading strategies.

New Section

In this section, the speaker emphasizes that they teach by example to ensure viewers do not perceive unrealistic achievements as unattainable. They believe that with dedication and mentorship, viewers can achieve similar results over time.

Teaching by Example

• The speaker aims to teach by example rather than showcasing unattainable achievements.

• Viewers should not be discouraged if they cannot immediately replicate the demonstrated results.

• With dedication and mentorship, similar results can be achieved over time.

New Section

Here, the speaker encourages viewers to calculate the numbers provided in the video to verify their claims. They address potential skepticism about using PowerPoint slides for presentations.

Verifying Claims and Addressing Skepticism

• Viewers are encouraged to calculate the numbers provided in the video for verification.

• PowerPoint slides are used for presentations to ensure transparency and visibility of details.

• Skepticism regarding Photoshop manipulation is addressed by keeping all information visible in presentations.

New Section

This section highlights that daily bias may not always work in favor of traders. The speaker shares personal experiences where adjustments had to be made based on market conditions but still managed successful exits within the daily range.

Daily Bias and Adjustments

• Daily bias does not guarantee favorable outcomes every day.

• Adjustments may need to be made based on market conditions.

• Successful exits within the daily range can still be achieved through logical adjustments.

The transcript provided does not contain timestamps for the remaining sections.

New Section

In this section, the speaker addresses the opinions and criticisms they have received regarding their trading style and teaching methods. They emphasize their experience and expertise in the field.

Addressing Opinions and Experience

• The speaker dismisses criticism by highlighting their three decades of experience and ability to fix trading issues.

• They assert that everyone will have different opinions on how they should be taught, but they will not change their teaching style.

• The speaker mentions that they have faith in their trading logic, even if others may not share the same faith.

• They acknowledge that some viewers may simply watch the videos without actively learning or implementing the strategies.

New Section

In this section, the speaker explains why they trade certain markets and emphasizes that their algorithms will not change because they are teaching viewers how to navigate with them.

Trading Style and Market Choice

• The speaker states that they trade based on a specific order, topics, and charts that reflect their trading logic.

• They mention that they trade other markets besides forex as a means of comparison and contrast.

• The speaker highlights their longer experience in these markets compared to forex.

• They express an intention to provide tips on trading bonds in future videos.

New Section

In this section, the speaker acknowledges being scattered in their presentation but aims to address various comments from viewers. They express gratitude for feedback while also mentioning restrictions on certain types of comments.

Viewer Comments and Feedback

• The speaker appreciates all comments and feedback received from viewers.

• They mention filtering out overly adoring comments but still accepting one significant comment per video.

• The speaker explains that some comments are held for review due to false accusations made against them.

New Section

In this section, the speaker responds to questions about why they trade certain markets and reiterates their focus on teaching viewers how to navigate with algorithms.

Trading Different Markets

• The speaker explains that they trade other markets alongside forex, such as the one being discussed, to provide a comparison.

• They emphasize their longer experience in these markets and express an intention to share tips on trading bonds in future videos.

New Section

In this section, the speaker concludes their video by expressing appreciation for viewer engagement and addressing claims of extraordinary trading results.

Viewer Engagement and Extraordinary Claims

• The speaker expresses gratitude for comments and feedback from viewers.

• They mention that excessively positive comments will not be shown but are appreciated.

• The speaker challenges individuals making extraordinary claims about live trades by suggesting they demonstrate it through logging into a live account.