April 13, 2023 Live Tape Reading - Emini S&P AM Session

Name: April 13, 2023 Live Tape Reading - Emini S&P AM Session
Uploaded: 2023-04-13T16:25:00.000Z
Duration: 5 h 8 min 39 s

Introduction

The speaker apologizes for being late and explains that he was having technical difficulties with his microphone. He also greets the audience and asks how they are doing.

The speaker apologizes for being late due to technical difficulties with his microphone.

He greets the audience and asks how they are doing.

Fractal in Price

The speaker discusses a fractal in price, which is stuck, and mentions that he will try to work his way out of it. He also talks about a breaker he was watching earlier in the day.

There is a fractal in price that is stuck.

The speaker will try to work his way out of it.

He mentions a breaker he was watching earlier in the day.

New Week Opening Gap

The speaker explains what a new week opening gap is and why it's important. He also talks about how he uses it as an influential reference point throughout the day.

A new week opening gap is defined as the shaded area on the chart where trading stopped on Friday of last week and started again on Sunday.

The speaker uses this gap as an influential reference point throughout the day.

How we move away from this gap helps him frame a lot of narrative for the day.

Fair Value Gap

The speaker discusses an initial fair value gap that forms in the first 30 minutes of trading from 9:30 to 10:00 am. He explains why he treats this as a very influential reference point throughout the day.

An initial fair value gap forms in the first 30 minutes of trading from 9:30 to 10:00 am.

The speaker treats this as a very influential reference point throughout the day.

How we move away from this gap helps him frame a lot of narrative for the day.

Volume Profile

The speaker talks about volume profile and how he doesn't subscribe to it. He also explains why he likes to use the initial fair value gap as a reference point throughout the day.

The speaker doesn't subscribe to volume profile.

He thinks it's just another excuse to get into a trade like anything else.

The initial fair value gap is important because it helps him frame a lot of narrative for the day.

Dollar Index

The speaker discusses the dollar index and how it has been animated to the downside after the PPI number at 8:30 am. He also talks about how there is likely to be sell-side reached into, and how it's important to see how we trade once we get below it.

The dollar index has been animated to the downside after the PPI number at 8:30 am.

There is likely to be sell-side reached into.

It's important to see how we trade once we get below it.

Sound Check and Market Analysis

The speaker checks the sound before diving into market analysis. They analyze the ES and NASDAQ markets, looking for symmetrical movement between all three averages.

ES and NASDAQ Markets

The speaker checks the sound before starting their analysis.

The ES market took out buy side but fell short of opening Chrysler by one tick. There is a sell side below that could draw price lower if dollar mounts some kind of reversal.

The NASDAQ has much more strength behind it than the ES market, making it a potential breaker. If price runs through this fair value gap on the upside, it could follow suit with NASDAQ.

All three averages are not in agreement, making it a non-symmetrical market. The Dow is showing lethargic price action while NASDAQ is raging higher.

Sick Sister Concept

This concept refers to when an index catches up with its leader. In this case, ES might want to run above or buy side trade into new week opening Gap high or consequent encouragement around 38 75.

Patience and Risk Management

Exercise patience until we get above the sphere bag at y because it's already showing respect of it. Don't step in front of that and try to go long because why the Market's not symmetrical.

Incorporate risk management by taking the risk on risk off scenario by incorporating the dollar Index. Since the dollar Index is weaker, we would be expecting all three averages to move higher but we're not seeing that yet so therefore we exercise patience where everybody else is in here clamoring to do something.

Trading in a Scalping Environment

In this section, the speaker discusses the current market conditions and how they are conducive to scalping. He advises traders to exercise patience and not try to force trades that do not fit their unique model.

Market Conditions

The market is currently stuck in a daily rut, making it difficult for traders to find good opportunities.

There is a lot of concern about assuming risk due to geopolitical tensions and banking shenanigans, which has led to a large amount of money being parked on the sidelines.

Traders should exercise patience during these times and focus on studying and backtesting instead of trying to force trades that do not fit their unique model.

Benefits of Trading Lower Time Frames

Trading lower time frames can help refine trading precision even for those with a swing or position trader's mindset.

The speaker identifies a swing low after trading down into a bullish breaker. He wants to see price trade up into the consequent encouragement 41 38 and three quarters to 41 40 50.

Checking Audio Quality

In this section, the speaker checks if his audio quality is good enough for viewers.

Audio Check

The speaker asks viewers on Twitter if they can hear him clearly.

Viewers confirm that the volume is good, allowing the speaker to continue with his analysis.

Analyzing Market Conditions

In this section, the speaker analyzes market conditions and identifies potential trading opportunities.

Swing Low Analysis

The speaker identifies a swing low after trading down into a bullish breaker. He wants to see price trade up into the consequent encouragement 41 38 and three quarters to 41 40 50.

The speaker notes that the initial fair value gap is an important level to watch, as it can provide support for prices.

Technical Analysis of NASDAQ and Dow Jones

In this section, the speaker discusses technical analysis of NASDAQ and Dow Jones.

Unfinished Business with ES at 4138 Level

The NASDAQ is supporting a willingness to want to go higher.

There's unfinished business with ES at that 4138 level.

4138 and three quarters would be consequent encouragement from midpoint between the new week opening Gap high and low.

Return Back into Fair Value Gap

To constitute a return back into that for an inversion fair value gap, it needs to trade above it and then start at least the very minimum a new candle.

Since we're looking at a five-minute chart here, it requires being above it, close it, and then start a new candle where it trades down into it.

It cannot trade above it and pass back through it like what's happening here.

DAO Trading Above Fair Value Gap

For DAO trading above this fair value gap right here, treat it as support and then run for the buy side if in fact the dollar does continue going lower.

We don't have anything supporting that idea yet; it's just speculation on my part right now.

New Setups for NASDAQ

We have a bit of a buy-side imbalance outside efficiency in here swing low.

If we can drop down in here but leave this open somehow don't close all that in numbers don't go all the way back down that candle's Hyatt thirteen thousand Thirty and a half I wouldn't want to see that if it's going to go higher so we want to see it remain open partially.

It can come back down here a little bit that's permissible I wouldn't have any concern about that removing short-term bullishness if the dollar fails to rally.

Price Action and Flexibility

None of this really changes the thing that I outlined last night for where I think the ES could eventually go to.

We have plenty of time between now and where we close on Friday so anything can happen in a short span of time but I'm reading the price action right now.

The concept or one model is not enough; you need to be flexible as well.

Watching Behavior Inside Range

We had one more pass into this fair value gap, or this entire candle here is an older block.

The speaker is watching how they behave inside this range from this candle's low and high.

Opening Range and Waiting for Displacement

Again, submitting ourselves to the first 30 minutes, that's the opening range being patient waiting for some measure of displacement to occur so far we haven't had that yet.

NASDAQ Still Looks Firm

NASDAQ still looks firm in here.

Consolidation in Pound Dollar

Here is a little softer off the tie cable which is pound dollar it looks like it's trying to consolidate in here it has a biasana balance outside efficiency that can trade down to 125 15 125 14 ish if we lose that that might be problematic and open the door for a little bit higher dollar.

No Actionable Response Yet

Nothing in this chart here indicates action, in other words, actionable response as a Trader would look at and say okay let's go ahead and take on risk all I'm doing is speculating that it could potentially trade higher.

Rush to Trade

In this section, the speaker discusses a rush to trade and how it affects the market.

The Rush to Trade

At 8:30, there was a rush to trade which caused the market to run up and trade into an old new week opening gap low.

The price did not reverse but came back down to some measure of fair value.

Just because an indicator might be out there that someone's coded and they see a separation between one candle and a candle two candles later that does not mean that's a tradable inefficiency.

Unique Concept

In this section, the speaker talks about his unique concept of incorporating imbalances in his analysis.

Incorporating Imbalances

The speaker invented the concept of imbalances as he has always been in the marketplace.

What makes his concept unique is how he utilizes it within a narrative.

He incorporates fair value gaps with imbalances in his analysis and tape reading.

Waiting for Setup

In this section, the speaker emphasizes waiting for setups that fit specific criteria before taking action.

Waiting for Setup

The speaker is waiting for setups that fit specific criteria before taking action.

He waits for price actions that deliver within the narrative he expects to unfold in price.

He anticipates what he wants to see in price before reacting or doing anything.

Nothing in the movement so far makes him feel like he needs to do anything yet.

Superpower for a Trader

In this section, the speaker talks about the superpower every trader should aspire to have.

Superpower for a Trader

The superpower every trader should aspire to have is self-control, patience, and understanding of how they're going to react.

Traders need to look at price actions objectively and not react impulsively.

A symmetrical market is ideal, but in reality, all three averages are not moving together.

Understanding Fair Value Gap

In this section, the speaker discusses how to trade using fair value gap and what to look for in a candlestick chart.

Trading with Fair Value Gap

The speaker explains that traders should avoid trading when there is a weakness hidden in the price action.

Traders should focus on meaningful questions such as how to navigate, sit still, and wait for the right opportunity.

The speaker emphasizes that understanding how to avoid taking trades is more important than just getting into a trade.

The speaker explains that traders should wait for a candlestick to close above the fair value gap before entering a trade.

Utilizing Fair Value Gap

The speaker drops down to a one-minute chart after passing above the fair value gap.

Traders should wait for a new candle opening that trades down to it and supports price before expanding higher.

The entry-level expectation of utilizing fair value gap is discussed.

Using Org Blocks

Traders can use org blocks by waiting for it to go above it and come back down. This is another way of using it.

Overall, this section provides insights on how traders can utilize fair value gap in their trading strategy. It also emphasizes the importance of waiting for the right opportunity rather than just getting into any trade.

Understanding Market Conditions

In this section, the speaker discusses different market conditions and how to identify them.

Immediate Rebalance

An immediate rebalance is when the market opens, comes right back down, touches that candle, and then takes off like rocket fuel.

This happens when everything starts getting in sync or the market is symmetrical and it's so obvious where it wants to go.

High Resistance Liquidity Run Condition

A high resistance liquidity run condition is characterized by stubborn stagnant Market conditions.

The market can go somewhere given enough time but do you have the wherewithal hold through all this choppiness until it gets there?

Low Resistance Liquidity Run Condition

Low resistance liquidity run conditions are ripe for trading stock index Futures such as Dow, NASDAQ, and e-mini s p.

When everything agrees collectively then you have the conditions that are ripe for a low resistance liquidity run meaning that the market will be much more liquid fast.

Professional Traders' Focus

Professional traders should focus on waiting for things to form in price action that leads to low resistance liquidity runs where the market just quickly easily just without any effort at all and fast bam it just takes off and goes right to where you want to go.

You want to be able to pick your shots know what you're waiting for because you know that you are expecting a specific thing to unfold your patient.

Analyzing Price Action

In this section, the speaker analyzes price action in real-time and explains what he is looking for.

Consequent Encroachment

The speaker looks for the 4138.75 consequent encroachment midpoint of this old new week opening Gap by itself.

He wouldn't be satisfied unless it went to 41.38 and three quarters but more specifically he'd like to see it pop up and touch the high end but minimum threshold would be here.

Patience in Trading

Even in a sloppy choppy mess, the speaker patiently explains what would be expected in price and what they would be waiting for.

They're not trying to reach for some kind of indicator to plot something; they're looking for things to occur.

Introduction

The speaker talks about his views on automated trading and how he prefers to trade in an old-school way.

Automated Trading

The speaker has seen attempts at automating some of the things he has taught.

He is flattered but not a fan of it.

He prefers to trade in an old-school way.

Market Analysis

The speaker analyzes the NASDAQ and Dow markets.

NASDAQ and Dow Analysis

The speaker runs through the NASDAQ and Dow quickly.

He shows consolidation and rally higher for NASDAQ.

He mentions utilizing a 5, 10, or 15-second chart to buy a fair value gap by side to balance on.

High-Frequency Trading Algorithm

The speaker explains high-frequency trading algorithms that look for disparities between averages.

Disparity Between Averages

High-frequency trading algorithms look for displacement among three averages.

They buy into inefficiencies when there is a disparity between orders.

This concept repeats every week and every day, making it reliable for traders.

Market Concepts

The speaker discusses market concepts that will continue to work as long as traders have access to them.

Market Concepts That Work

Market concepts created by the speaker will continue to work as long as traders have access to them.

New traders will always start off on the wrong foot, creating opportunities for experienced traders who understand these concepts.

Technical Analysis

The speaker analyzes technical charts using bullish breakers and swing lows.

Bullish Breakers and Swing Lows

The speaker uses bullish breakers and swing lows in technical analysis.

He mentions that a swing low was within the context of looking for price to catch up with NASDAQ.

Introduction

In this section, the speaker introduces the topic of the video and explains that NASDAQ is under accumulation.

NASDAQ Under Accumulation

NASDAQ is tipping its hand and saying it's under accumulation.

The speaker advises to watch for higher prices and not wait around.

The ES (E-mini S&P 500 futures contract) is mentioned as well.

Understanding Market Behavior

In this section, the speaker discusses how to understand market behavior by looking at reference points.

Reference Points

The speaker mentions that individuals are being stopped, scared, worried, and confused by the market.

He advises traders to look at two reference points: the bullish breaker which has been tapped twice and the Monday initial fair value gun dragged through because we're not supplying demand.

Trading Strategies

In this section, the speaker talks about his trading strategies and how he uses them in real-time trading situations.

Real-Time Trading Situations

The speaker mentions that he cannot simply give a one-size-fits-all strategy for trading.

He talks about how he encourages gaps in trading when they occur.

He also mentions that timing is important when it comes to trading strategies.

Candlestick Analysis

The midpoint of a high-low Half Point inside an order block is discussed as an indicator of accumulation.

The importance of candlestick analysis is emphasized with specific examples given.

Learning from Experience

In this section, the speaker emphasizes learning from experience and studying past trades to improve future performance.

Learning from Experience

The speaker talks about how every trader takes losses, but what keeps him on the right side is understanding market behavior.

He advises traders to think about how they could have said everything he said in less time or fewer words.

Importance of Studying

The speaker emphasizes the importance of studying and attending lectures to learn more about trading strategies and market behavior.

He mentions that most questions will be answered preemptively by simply studying during these lectures.

Trading Multiple Markets

In this section, the speaker discusses the importance of looking at multiple markets and assets when trading.

Looking at Multiple Markets

The speaker emphasizes that looking at only one chart or market is not enough to make informed trades.

He advises traders to look at other markets and assets for supporting features and details.

Staying Focused

The speaker warns against becoming myopically focused on one thing while trading.

He advises traders to stay focused on their goals and avoid distractions.

Keeping Trading Boring

In this section, the speaker emphasizes the importance of keeping trading boring and avoiding excitement while actively trading.

Keeping Trading Boring

The speaker advises traders to keep their money-making activities boring and avoid excitement while actively trading.

He compares trading to war, advising traders to stay composed and ready for anything.

Understanding the Silver Bullet Trade

In this section, the speaker explains that the Silver Bullet trade is a time-specific window of opportunity presented by an algorithm to traders who are aware and looking for it. The speaker emphasizes that traders should not rely on hindsight charts or market replay to teach the trade.

Importance of Live Trading

The speaker emphasizes that traders should learn how to do live trading and show they can predict market behavior beforehand to gain clout.

Traders copying the speaker's teaching methods without understanding them will not succeed in trading.

Fair Value Gap and Multiplier

The fair value gap is a context or multiplier used in the Silver Bullet trade.

The speaker outlines his intraday bullish bias for ES with a target of 41 38 and three-quarters and maybe 41.40 and a half.

The initial fair value gap on Monday was explained, which was drawn through the entire week like opening price on Sunday treated as fair value.

Long-term swing trades are better entered if you're bullish below the opening price on Sunday or bearish above it.

Real-Time Context

Traders were told real-time at the time to focus on areas where we've accumulated in both those areas.

It's important not to be retail-minded but instead wait patiently for price action to give you what you want.

The market ran through fair value gaps as predicted, hitting targets along the way, including 413 eight and three-quarters.

Silver Bullet Trade

Traders should not be retail-minded but instead wait patiently for price action to give them what they want.

The fair value gap mentioned earlier is the silver bullet.

Trading Strategies and Understanding Narrative

In this section, the speaker discusses trading strategies and understanding narrative in the context of market algorithms.

Opening Gap and Fair Value Gap

The opening gap for the new week is discussed. The midpoint or 50% on a fib is used to determine the target above by side.

Buying inside the fair value gap can be profitable.

A worst-case scenario is discussed.

Time Distortion

Time distortion is explained as what makes people say time-based charts are useless because they have no idea how to use time.

The speaker shows how to use time distortion in trading.

Narrative and Algorithmic Trading

Narrative is defined as an understanding of what the algorithm will do next, why it will do so, and when it will do it.

The importance of understanding narrative in algorithmic trading is emphasized.

It takes more faith to believe that random buying and selling pressure presents level precision than seeing proof and evidence presented by the speaker.

Conclusion

The importance of understanding narrative in algorithmic trading is reiterated.

Polling individuals who call themselves market makers desk traders may not yield accurate results regarding level manipulation and control in trading.

Three Concepts for Trading

In this section, the speaker discusses three concepts for trading and how to use them effectively.

Buying and Selling with Power Three Concepts

Use power three concepts to filter trades.

Buy below it when bullish, sell short above it when bearish.

The best of the best trades are those that agree with power three concepts.

Mentoring and Track Record

In this section, the speaker talks about mentoring and track record.

Public Track Record

Speaker's public track record is what you see.

Speaker is accurate when calling trades.

Encourages traders to learn from him for free.

Mentoring

Speaker shows what will happen in price before it happens.

Shows that concepts are valid.

Opening Range Resistance and Dollar Consolidation

In this section, the speaker discusses opening range resistance and dollar consolidation.

Initial Resistance

Initial opening range provided resistance on idea that ES would sync with NASDAQ.

Dollar Consolidation

If dollar goes lower, ES can go higher easily.

Consolidating dollar is not equivalent to a lower dollar where we would expect higher prices in ES.

We haven't seen raging higher yet so it's all consolidation.

Indicators for Trading View

In this section, the speaker talks about indicators for Trading View.

Fair Value Gut vs Order Block

Indicators plot fair value gut as order block which is incorrect.

Narrative states that dollar has already done three stages of runs on sell side.

It's not technically a three drives pattern but from a narrative stance it's already taken three pools of liquidity for cell sign.

Consolidation is likely to occur.

Buy Side and Sell Side

If it runs higher, buy side is right above here.

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Understanding Market Structure

In this section, the speaker discusses market structure and how to identify it.

Identifying Dealing Range

The dealing range is identified as the area between the high and low of a specific time frame.

The speaker emphasizes that they are waiting for something to occur within the dealing range before making any moves.

As long as price remains within the dealing range, there is no need to worry about how many candles it takes to move sideways.

Aiming for Specific Price Levels

The speaker aims for specific price levels rather than supply and demand zones.

Once price trades above a fair value gap, the speaker transitions down to a one-minute chart.

The speaker encapsulates an up-close candle that took them above previous highs and above a fair value gap in an orange box.

Shift in Market Structure

When price takes out previous highs, it becomes a shift in market structure.

The speaker emphasizes that they have already shown two times where it worked off of that bullish breaker.

They also discuss criteria for accumulation inside the bullish breaker and initial fair value gap on Monday.

Controlled Markets

The speaker believes markets are always controlled but does not see this as something to be feared.

They emphasize that identifying control can be advantageous when trading.

ICT's Trading Strategy

In this section, ICT talks about the importance of learning his trading strategy and how it will continue to work in the future. He emphasizes the need for dedication and sacrifice to succeed in trading.

The Importance of Learning

ICT guarantees that his trading strategy will continue to work in the future.

Students are making money with ICT's trading strategy, so there is no reason not to learn it.

Dedication is required to learn and implement ICT's trading strategy.

Understanding the Narrative

Repetition is key to understanding ICT's trading strategy.

ICT teaches his students live on a stream, walking them through repeating characteristics and what the algorithm will do next.

Highlighting reference points on your chart can help keep your focus dialed in.

Sacrifice and Dedication

Sacrifice is necessary to succeed in trading.

Low resistance liquidity run signatures are a pattern that ICT loves because they indicate higher prices.

Fair Value Gap and Narrative

In this section, the speaker discusses the concept of fair value gap and narrative in trading.

Fair Value Gap

The fair value gap is formed once a high is taken out and traded above.

There is a fair value gap when there is an order block and we trade down to it.

A run above the fair value gap leads to a rally between 10 o'clock and 11 o'clock.

Narrative

Narrative is more important than market structure in trading.

Understanding why prices move in certain ways based on narrative is crucial.

Timing the market is possible by understanding narrative.

Understanding Price Action and Anticipating Market Movements

In this section, the speaker discusses how understanding price action is crucial to anticipating market movements. He emphasizes that traders should anticipate price rather than react to it.

The Highest Form of Mentoring

Learning through understanding what should take place in price action is the highest form of mentoring.

Traders should anticipate price, not react to it.

Technical science is used to predict future prices.

The level of precision in predicting future prices will continue to improve with technology.

Responding to Questions

The speaker does not respond to direct messages on TradingView but encourages people to reach out on Twitter.

The most requested question he receives is whether there will be more opportunities for trading setups in the future. He believes that there will be more opportunities as systems improve with speed and technology.

Utilizing Different Markets

The speaker uses different markets as part of his analysis, even if he doesn't trade them directly.

Analyzing the Dow can provide insight into other markets such as Forex pairs.

When the dollar is moving, non-dollar based crosses may have limited movement.

Conclusion

Understanding price action and anticipating market movements are essential skills for successful trading.

Why Drawing Charts by Hand is Superior

In this section, the speaker explains why drawing charts by hand is superior to using technology.

Benefits of Manual Charting

Drawing charts by hand allows traders to put thought behind why they are annotating their chart at a specific price point.

Manual charting helps traders understand the logic being taught and provides a visual representation of it on the chart.

By framing reference and study within a 60-minute timeframe, manual charting helps traders focus on timing the market within that specific time period.

The Importance of Consistency

Traders often struggle with consistency because they jump around from person to person, influencer to influencer, chasing different systems.

The speaker removes any excuse for not being disciplined, organized, and knowing exactly what you're doing through his method of manual charting.

Advantages Over Other Analysis Methods

Manual charting is the elite superior apex version of analysis as it involves looking at indicators and applying math to something that has already happened.

Volume profile analysis can predict where low volume nodes will be before they even plot on your profile.

Hindsight-based systems have no bearing on what markets are going to do.

Trusting the Process

In this section, the speaker emphasizes the importance of trusting his process and presents evidence for its effectiveness.

Evidence for Effectiveness

The speaker calls ticks and minute candles live with no room for error or safety net.

The speaker challenges viewers to find any failed logic or fraud in his system.

The speaker live streams to prove that his process works in real-time.

Taking Responsibility

Viewers must take responsibility for their successes and failures in trading.

The speaker presents the logic that these things tend to repeat, and within the context of consistency, traders can find their unique model.

Understanding Market Conditions

In this section, the speaker discusses how to filter out ideas and supercharge them in better market conditions. They explain that the current market is challenging and range-bound, making it difficult to swing trade or long-term position trade.

Market Profile

The speaker explains that until we leave the current consolidation range, we are in a scalping market.

They caution against marrying any trade and turning it into a long-term position because of the small intraday range-bound consolidations.

The speaker advises listeners to avoid common pitfalls such as not taking partial profits and turning profitable trades into long-term positions.

Trusting the Process

The speaker encourages listeners to trust the process and avoid making mistakes they have already made.

They emphasize that avoiding mistakes will make your learning curve shorter.

Narrative Equation

The speaker explains that understanding what the algorithm will do next is key to understanding narrative equations.

Understanding Price Action and Trading

In this section, the speaker discusses how to anticipate price action and make informed trading decisions.

Anticipating Price Action

The speaker explains that if the inversion level is reached, they would abandon the idea of initial bullishness and wait for more information.

Anticipating price action means knowing what you want to trade on but also identifying what negates it.

The speaker emphasizes that they always favor one side of the marketplace when giving an opinion or making a trade.

Trading Limitations

The speaker admits their limitations in trading CPI numbers and waits for them to form before engaging with them.

CPI can be a fast mover that can tear your face off if you're on the wrong side.

Learning from Live Streams

The speaker promises two live streams per week where students can learn about trading without worrying about being right or losing money.

Watching live streams allows students to see real-time trades and gain insight into timing and market behavior.

Simplifying Trading Models

The speaker suggests focusing on a 60-minute interval between 10 am and 11 am New York local time as a simplified model for trading.

Going through all core content will make you an animal in trading, but watching 40 videos from live streams in the 2022 mentorship program will give you something right away.

Overall, this section provides insights into anticipating price action, understanding trading limitations, learning from live streams, and simplifying trading models.

The Importance of Live Trading

In this section, the speaker emphasizes the importance of live trading and how it helps traders learn to make decisions on their own.

Live Trading is Key

All trades are Cherry Picked and explained live.

A mature student does not need to see a button being pushed.

Watching execution in videos is enough.

Mentoring is about showing real-time execution, not just talking about past trades.

Supercharging Trades with Seasonal Tendencies

Using seasonal tendencies can help supercharge trades.

Trading inside a weekly profile can be beneficial for capturing big moves.

Participating in larger time frame price runs based on weekly expectations can be advantageous.

The 10:00 AM - 11:00 AM time window is ideal for Silver Bullet trades.

The Importance of Money Management

In this section, the speaker emphasizes the importance of money management in trading and highlights how it is a skill that most traders won't ever reach.

Money Management is Key

The speaker acknowledges that traders will make mistakes but emphasizes that money management is key to success.

Traders who are profitable outside of what the speaker teaches are exceptional money managers.

Many traders can see setups and have the right bias, but their risk management is too extreme.

Managing risk is more important than technical analysis.

Impatience Leads to Failure

New traders often feel like they need to trade all the time, which leads to blowing accounts and frustration.

Successful traders don't care if they trade every day; they enjoy it when they do but aren't keyed up about needing to do it.

New traders need to give themselves a chance by learning in the right atmosphere and being patient.

Listen and Learn

Traders need to listen and learn instead of doing things their own way without knowing what they're doing.

The speaker provides answers on how trades should be executed live over real charts on a small timeframe.

Why I Don't Trade the Yen

In this section, the speaker explains why he doesn't trade the yen and how his past experiences have influenced his decision.

Reasons for Not Trading the Yen

The speaker has a history of doing things early without knowing what he was doing or being scared, which makes him uncomfortable trading the yen.

He knows his limits and doesn't want to fortify himself by desensitizing himself to trading it. His obsessive-compulsive brain will constantly feel like he's going back to where it hurt him.

He feels comfortable trading other currencies in Forex but not the yen because it is aggressively manipulated.

Using Higher Time Frame Analysis for Larger Price Runs

In this section, the speaker discusses using higher time frame analysis to participate in larger price runs.

Incorporating Higher Time Frame Element

By incorporating a higher time frame element into trades lasting several days to a couple of weeks, traders can expect larger ranges on a short-term swing basis.

Traders can take a portion off within a 60-minute window and leave one contract as a runner.

Example with NASDAQ

After leaving consolidation, NASDAQ ran up above its old high.

The speaker recommends buying into relative equal highs on strong stocks like "six sister" instead of weak ones that may not catch up.

A bullish breaker and PDA were used to anticipate price failing and sending price lower on Fair Vegas.

Learning to Trade Takes Time

In this section, the speaker emphasizes that learning to trade takes time and effort. He compares it to starting a car and highlights the importance of experiencing live trading situations.

Learning from Live Trading

The speaker stresses the importance of seeing live trading situations and understanding why certain decisions are made.

Watching price movements without actually trading helps desensitize traders to market fluctuations.

Traders should expect mistakes in the beginning and learn from them without any monetary loss.

Dealing with Missed Opportunities

The speaker compares missed opportunities in trading to a car not starting up.

Traders should not be discouraged by losses or missed opportunities as they are part of the learning process.

Importance of Real-Time Data

The speaker emphasizes that some lessons can only be learned through real-time data.

Hindsight analysis is not enough; traders need to experience live trading situations to fully understand concepts.

Lessons taught with real-time data help traders make better decisions in future trades.

Trading Psychology: Risk Management and Discipline

In this section, the speaker discusses the importance of backtesting and risk management in trading. He emphasizes that traders should focus on being consistent rather than getting rich quickly.

Backtesting and Initial Profile

Backtesting involves studying old data to identify patterns.

The initial profile is formed from these patterns and becomes a major part of a trader's model.

The model is refined over time to achieve consistency.

Risk Management

Traders should get comfortable with taking losses as it is an inevitable part of trading.

Impeccable control over risk management can make losing trades feel like a nuisance rather than a disaster.

Overleveraging can be dangerous for inexperienced traders.

Demo Trading vs Live Trading

Paper trading and demo trading are useful for managing risk but can create unrealistic expectations.

Traders should condition themselves to trade with the smallest leverage possible, even in demo accounts.

It takes at least six months of consistent practice without real money to determine if one is ready for live trading.

Conclusion

Antsy excitement about taking trades indicates that one may not be ready for live trading yet.

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