Original subtitles

Okay, welcome.

Um, this is a Asian session for October 5th, 2016.

This is economic calendar for today.

And what we're primarily focused on is not having any of this, that, that, or that.

And I don't want to see any of that and I don't care about that.

Okay.

So that leaves us right here.

So this is the economic count that we showed today and eight 30, which is

just about, less than a half an hour time from releasing these numbers.

Now I've done this before, since we started mentorship

and it was a rather lackluster.

Event really didn't do anything.

So I don't have my hopes set on anything great tonight, but we're

going to take a look at short term charts to see if there's any kind

of a run that we can trade on.

And with that, let's go over to,

uh, the Ozzie.

Okay.

And we'll probably do most of this mute.

See my voice and I'll just draw your attention.

I think what we're going to do is we're probably going to just see

a move above the short-term high.

Hang on one second.

No, I'm not talking.

I'll I'll let you know when I'm talking.

I'll I'll send you some sign language.

That way you can keep the whole long.

Yeah, I was on mute for a second.

My youngest is in the office with me,

not much in way of a setup.

And again, this is one reason why I'm not terribly excited about Asia, but

you never know might get something.

So what I'm looking at.

Is, we have a little bit of a void still in here and fair value gap

right above with a wick to the body.

So we could see potentially a move down into that level.

And if we do, we can do an exercise there to see if we get

a run above these equal highs.

And it's not a lot of movement, potentially 25 pips, maybe, maybe 30, if

you can, if we can get a run off of that.

Um, I do like the fact that we have one, two.

Three four times reaching lower.

That really, really like, I like that.

Um, if this would have been like a New York or London set up, I would

probably be very excited about taking along and holding on to it.

But if we do see it come down in here and get some sensitivity here, uh, the stop

would have to be below this down candle.

It has to be below that low right about here.

So let's get, let's put those parameters up.

So your staff's gotta be at a 75 96.

And if we do get a run, uh, we're looking for 76 35, 76 32.

Yeah.

Like 76 35.

And if this thing gets some legs through London, we have some

clean highs in here as well.

Might be a little bit of a liquidity pool up there.

Uh, 76, 75.

Uh, I'm not terribly excited about that, but I do like the fact that we

do have a near term clean level in here that we can aim for right in here.

So let's do that.

Great there.

So I like that

and it doesn't have to come down here.

I mean, we have a little bit of a small little consolidation and here it can hit

that level and maybe punch up there again.

It's nothing to get terribly excited about or live funds on, but it's something.

And this is one more example where, what you're doing with your time in

front of the charts, not just waiting for something to magically appear.

You're going to study this level here,

right there.

Now, as it hits that level.

At 76, 12 and the next level down is 76 7.

So there's not much in terms of like it's five pips.

So you could actually take a drill, hypothetically saying, as soon as

you hit this level here, you can give them with a long, and then look for

a limit order on 76, 30 to 76 35.

Right now, that's what it looks like as you hit it as a level hits it right there.

That's when you would.

You are a block.

Now this is a very small little price swing

in allowing for your trade to come down into 76.

Oh, I don't know.

76 0 5 and still be valid.

Uh, we're actually all we're doing is trading intraday volatility, real

short-term price swings to allow us a lot of opportunities to test

order blocks, run liquidity voids.

It's not, we're not trying to frame it.

Long-term perspective here, and I'm not trying to call daily price swings

on a daily chart and I'm like that.

So don't, don't take these things that we're showing on intraday as a gospel

message of, you know, it's going to be six months of a bull market or a bear

market based on what I'm talking about.

You don't need that to practice it.

All you need is a small little institutional reference points that

we identified for a, what to focus on.

Now, here's a question with the market reaching like this 1, 2, 3,

4 times, and then have a nice little run-up clearing out this high.

Does the probabilities suggest that we make one more run lower now?

Obviously it can, but is it most likely going to happen?

Chances are it's probably not, but because of the time of day, It's not something

you would expect to see a Lola day form.

So if you were hard pressed to do something, obviously this

isn't one to do it, but you can practice and see if there's any

response, because what is this?

What's this movement and here was big candle up here.

What do we call that liquidity?

Okay.

So if it has a willingness to want to jump, okay.

And we have market moving above this high here.

So what is this whole price move here called

Impulsely.

So now you can take your fib,

draw it on it.

Now you have a qualified price swing.

It showed a willingness to go above a previous swing.

Market's coming down into we're below equilibrium.

So we're in discount.

This area down in here.

If it hits us or a block here, that's the sweet spot on

optimal trade entry, 70.5 level.

I still have people asking me, show them the settings for fib.

And there's a video on the forum, uh, in the technical help section.

It's the very first video I did for new mentorship.

What demo account to set up and all that business and how to set their account

on their demo for day, and also go quickly through the Fibonacci level.

So if you want to know that it's in that video as well,

it'll show you how to do all.

I have all mine here.

Uh, this time of day, I'm not really heavily excited about using the dollar.

He's usually sleeping.

I'll give you a real quick look at it.

It's doing nothing really meandering sideways.

Okay.

We hit the order block right here.

Excuse me, folks.

Sorry.

Forgot where I was at.

Now, even in this sloppy condition, in the worst, in my opinion, worst

time of day to trade in Asia, look at the responsiveness here.

Even if this thing does go lower and wipes out this low one more time.

It's always fascinating to me to see how these things respond.

At predetermined 11 predetermined levels.

Now it's a safer let's play devil's advocate for a moment.

If you were, uh, if you were going long at the body's opening on this candle

that comes in at, if I can get in here.

76 0 5.

So if you were buying the Aldi and you're using 7,605 as your reference

point for supporting the idea that moving higher and you were using a

limit order, what was your price be?

Very good.

76, 10.

Everybody's saying the same thing.

Awesome.

You can use 76 0 8.

There's only been one person that said that it's acceptable.

I'd like to add five pips and if I'm selling shorter limit, I want to

identify a level I'm really interested in and then I'll go five pips below it.

Exiting.

Taking profits.

I like to go about 10, 20 pips before the actual level.

I really like, I just been in the business long enough to know that I don't

like being left out of the good exit.

Sometimes they get rate real close and with a limit order or exit

with a limit order, they need you to be a 10 minutes away from that.

But if you're looking at levels like this in advance, it's not hard to worry.

It's very little to worry about in regards to that.

But let's just say for instance, okay.

Say you were long from 76, 10.

Okay.

At 76, 10 knowing the type of day.

Okay.

And the conditions that we're in right now, it's not a terribly

exciting if you were scalping.

Now I don't do a lot of this kind of stuff, but if you were scalping,

where would you look to reasonably expect your first profit and why?

The majority of you saying around 76, 20 to 76 22, because that's just

above this short-term swing high.

Okay.

And after that, there was a, had additional information beyond that.

They said that they would look to take additional profits over

here because of the equal highs.

Very good.

Uh, one of the questions I asked what were at, well, I was just asked was why did I

elect to go with this order block and not this one here, because there's avoidance.

This big run-up and if it goes down the close that void, it also takes

out this little short term low.

So what would, what would be re residing rate below that low?

Yeah, cell stops.

So if this can look in turn bullish and leave a wick on that, we'll

probably draw up into this downtown.

At the very minimum, it might touch you opening on that around 77, 19.

So 77 20 would be a good first profit if they can fill in that little tiny

avoid here, and it wouldn't even need to break the range and go above

this old high to pay you 10 pips.

Now again, 10 pips is not the things I look for, but you'd be surprised

how many people are asking me.

Hey, look, if you could just give me a way to make 10 pips a day.

No, this is, that's all I'm looking for.

Well, if that's, if that's all you're looking for is plenty of

opportunities to do that in New York.

I like the fifth is the question is by, uh, why do I like trading

on the 15 minute timeframe and not a one hour, uh, 15 minutes.

I already know what I'm looking at relative to an hourly chart,

and I can read order blocks that would reside in, exist on Allie

charts in a 15 minute timer.

So once you do it for a while, you'll, you'll just get comfortable.

I like personally, the 15 minute timeframe, I just I've

grown accustomed to using it.

It's friendly for me to trade in any, any trading session, correct acumen.

But, uh, if I'm looking for session swings or really high, uh, like high-impact

levels where a good order block or a good liquidity pool would rest, I'll

draw out to an alley chart and identify.

But execution wise, I'm usually on the 15 minute timeframe, five minutes.

It's a little too noisy, especially now.

I don't know what's going on last, uh, really last six

months, it's been real ugly.

I mean, to track the price actions, real spotty, you're not getting a

lot of, uh, symmetrical price swing.

So it's forcing you to be not you all.

I've never been a fan of women at charts.

Um, but five minutes, I used to be able to execute real well.

But I demand now at least 15 minutes.

A little bit more cleaner.

Yeah.

A question is, can you, can you just trade on one timeframe yet?

I mean, once you understand price action and that's all part of the mentorship,

you're going to learn so many things and by experiencing all these different

avenues of trades, One's going to draw your fancy more than another it'll

it'll, it'll, you'll be really engaged with one concept more than any other.

And soon as you feel that really resonate with you, that's the

one you probably should work on.

Most refine that one, even while you're studying all the other ones.

And that way that'll be your name.

When do I know to take a position before the news?

It's if the price action suggests that like this one here, it

started it's it looks pretty good.

I mean, for a little tiny little move for, uh, a pop-up of, uh, of those ties

at 76 thirties it's Bible, we've got about two minutes away from the news release.

And again, I'm not expecting a lot of fans.

How many people are in the session right now?

Um, 230, which is a lot more than I was expecting this time of day

at 549 today in the first step.

And then I had about 411 in the second one.

Yeah.

I wish I wish there was more activity in this timeframe.

Um, but there just really isn't a lot, but I'm gonna have to force

myself to do some yen trading in this mentorship just to, to prove that

you can do something in this time.

Yeah.

Yeah.

I got to tell you, man, I can't stand that pear pisses me off that I just

don't want to be in that thing anymore.

Yeah.

That's the only time I'll do it.

If I see something in the pound yet I'll do it, but it's

gotta be something so superb.

So perfectly lined up that I just can't.

I just can't walk.

And it's not a whole lot of times that it does that for me.

A lot of my students though, are just destroying that pair.

I mean, they do so well.

I'm impressed by it.

Uh, yeah, the bias is really just to see if we can get above that 76.

First to get like first objective.

And then if we can run through that, because if you look at the high rate

before it, this is still a little clean too, so it could just punch up

there and then come right back into the consolidation and just go nowhere.

But the idea is that we're going to try to see it runs through here.

And if we can get an injection after running these by stuffs to make

a jump up into here, then great.

It was wonderful exercise.

And there it is.

Yeah, I'm going to tell you everything I know about taxes.

I'm going to say I'm going to share some resources I've accumulated over the years.

I'll tell you where you can go if you live in the states, um, for more information

about it, but I'm not an accountant.

So just keep that in mind.

I just trust these guys to do that stuff.

Okay.

So far, we've got a little bit of a movement.

Does three pips away?

Well, from our first profit objective, um, it went right up

into the opening of that candle.

Opening it, 76, 19 tie goes to 76, 19.

So right.

Went right to the level that we talked about.

Usually if it goes there, like that, it likes to print on the

twenties and the eighties and the fifties and round numbers.

So we still could probably see a pushup in here at least touch the 76 20.

Yeah, it depends on the question I got is will I put a tray?

Based on the owner block even before a news release.

Yeah.

I mean, cause if you see what prices indicating, I mean, we basically,

we're talking about it here.

I mean, it just hasn't really moved much because of the time of day and

there it is, but on a micro scale, okay.

Now this is one of the things I keep harping on because I still get

folks that are in this mentorship that are asking questions.

Like, why am I not teaching on a daily.

And I can't teach everything in 12 months if I just focus on a daily chart

and you're not going to learn anything just by focusing on that timeframe,

the things that I teach you relative to institutional order flow, they're

universal across all timeframes.

Okay.

So imagine, let's just say, for instance, say this was a,

say this was a daily chart.

Forget what you're seeing up here in the upper left-hand corner.

Okay.

Forget this is even Australian dollar.

You don't even know what pair this is, who cares?

When price was dilly dally and ran up here, and we were talking about, we're

going to watch this order block and then going to watch this order block down here.

Okay.

If this was a daily timeframe, as price was hitting those levels

relative to how much risk it would be.

If you were buying on this one and your stop had to be down here, it doesn't

mean that you can't take that trade.

It just means that your stop has to allow that and you divide that by

how much risk you're going to do.

So if you had a thousand dollar account and you're only willing to

risk 1%, you got to determine how many pips that is from where you're

trying to buy out here for where your stop is and divide that number of

pips by a hundred by a hundred bucks.

Cause that's your total risk 1% of a thousand.

Oh no, that's not right.

Is it the, uh, 1% of whatever your equity base is?

Don't be afraid.

Okay.

Or turned off by the fact that we're using any timeframe.

Cause it's all relative to understanding what price should do.

So if you would have had a long down here and let's assume this, this was

a daily chart and we're looking at not a 15 minute timeframe, don't get hung

up on the timeframe that that's the worst thing you could do when I was

starting out, I thought that was the secret it had, there was a secret time.

This is the one that works there isn't that doesn't exist.

You're looking at price.

Price is the same thing.

Okay.

So if you understand what we're, what we're looking at here is if this is a

daily order block here and as price hits.

You would have an order down here.

Okay.

Of maybe, probably you see, it's hard to say, cause it's not relative to what

the scale would be in terms of pricing.

You want a daily chart.

So there may be about 60 to 50 pips of, of difference between where the order

block would be relative to a daily chart.

If this was all daily candles, all you're going to do is factor in the amount of,

uh, of, of distance from where you would have to expect price to reasonably.

And if it rolled all the way up here to this daily candle.

Okay.

And I'm probably confusing a lot of you, but if this was a daily chart

that would, that could potentially be, you know, hundreds of pips in

there and it went right to that level.

And that's, that's what all I'm trying to draw your attention to by having all

these little examples, intraday is to prove to you that price is predicted.

It gives you a reasonable way of determining where there should be a

setup where there should be real support, where there should be real resistance

and what draws prices, liquidity.

You get buy signals and sell signals off of order blocks and liquidity pools.

You get targets with voids back to fair value and liquidity pools,

contrary to where you entered.

If it's a long you're looking for liquidity above that.

Or you're looking for a bear shorter block inside the current

range to go back to fair value.

That's all trading is, and that's all the algo.

Does it delivers price swings back and forth based on those two premises.

That's nothing.

There's nothing else to this, but you won't believe me until we see

weeks and weeks and months and months of doing this all the time.

And it continuously delivering it.

Yeah.

And it's not, it's not exciting for me, Tim.

I appreciate your feedback.

Asian sessions are just not, they just don't have enough movement for me.

I wish I wish four X would give me what commodities would, uh, whether there's,

I wish they would do away with spreads.

I wish there was a way for Forex X to do away with spreads.

Because man, we would have an amazing efficient way of trading because I love

the liquidity side of Forex, but just no downside is obviously the spread, but

if you understand how we trade, you get quickly over top of the dealing spread.

But from a mentor standpoint, teaching.

Um, because folks are always trying to be in a hurry.

They want to get in earlier than they should or chase it after it's

already priced in it's mood or signal that spread can really beat you up.

I'm hoping that we'll get a couple of mega trades.

I mean, we've got, we've got 12 months together.

We're 11 months now.

So that's plenty of time to get at least.

I just need to have that, uh, election behind us before I do

anything with commodities, I don't do anything with FX futures.

If I'm going to trade futures, it's going to be the straight contract,

uh, London I'm keeping until the third one.

No, I'm sorry.

The third month, third month, we're going to be really involved

with London session trading.

I'll be, I'll be finished teaching all the things that lead up to everything

that I've described as potential setups.

And we'll start building on that.

Well, I don't trade.

I don't have a spread.

From from when I'm trading through prime brokerage, I don't

have a spread and I just, I can accept my fills or reject them.

I have about five minutes.

I can come back and say, well, I don't want that fill.

And you can't do that with, uh, you can't do that with like FXCM well, Hey look,

this is not really a good price for me.

Can you give me something different prime brokerage?

You have that luxury for about five minutes.

I can reject a quote and say no.

But you have a transaction that you end up paying it it's really called a

spread, but it's really not a spread.

It's really a transaction cost.

Uh, it used to be a million dollars.

Uh, some of them were actually asking for more than that now.

And I said, I'm wanting like 5 million and 10 million.

On prime brokerage, the costs are fixed regardless of the volatility.

But there's no leverage.

So then you don't really need leverage when you got that kind of money.

I'll give us about five more minutes and then we're going to close it.

It's just not enough for me to be concerned about.

Yeah.

That's why I don't really care about this one.

Uh, the only time I really enjoy Australian dollar in Asia and Kiwi in Asia

is if they do interest rate adjustments or employment numbers, those two

channeling, they give you a little bit of movement, but mostly it's interest rates.

We'll probably see at least one or two Aussie sessions where

interest rates are, are driving.

And, uh, I had, I had a really nice one.

What year are we in?

We're in 2016, I think it was 2000.

It was 2015.

I got to go over my records.

I was, uh, I was sitting there talking to my wife one evening

and went to the economic council, getting prepared for the next day.

And I said, oh, wow.

Interest rate announcements coming out for, uh, for all.

I got like 20 minutes.

I said, now I'm trying to listen to my wife talking.

I'm not even really listening to her and hearing her talk and I'm

not really receiving what she's saying and she could see it.

It's like, you're not listening to me.

It's like, I hear you.

She's no, but you're not listening to me.

And she said, I know what you wanna hear.

You want to go on that freaking computer again?

No, yet.

I said just for a second, if you just give me a second, it's it right away.

I went in there, put the order in and literally.

Good grief, maybe less than 10 minutes.

Boom.

It was like a thousand dollars per contract or for standard

rates stayed a lot of hat on.

And I told her, I said, see that right there.

We have Christmas paid for.

And all you had to do is just give me a couple minutes to go

up there and take care of that.

That was the last real big mover.

I ahead for a Aussie owned in this timeframe here, but unless it's

something like that, I really don't care too much about this particular time.

Now she's not impressed anymore.

She could care less.

She thinks I spent too much time doing this.

And in fact, I really do love it.

I mean, he can come on with it.

I don't care what she say.

I don't care who you are if you don't love this business.

Okay.

You're in the wrong one.

I mean, you gotta be in love with it or get out of it.

Yeah, man.

I love it.

Absolutely.

Yeah, it's just one of the businesses where you can look at

sleep and the lack of it and say, yeah, I'm not missing anything.

Yeah.

Well, we've got about two more minutes and I'm going to close shop here.

This is again, this is the second time where we really just had a chatter box

session where nothing's really happened.

We saw a little bit of response off that level on the order block.

Um, it gave us what 15 pips, 14 pips really.

Nothing to get terribly excited about

what in the structure gave me a long bias.

Uh, the fact that we had 1, 2, 3, 4 drives lower, then we had

this nice move quickly over here.

Look at the movement here.

Okay.

See that drop down quickly.

Just like we see it here.

They're aggressively jumping down to take the liquidity out below

these lows with this run here.

And then we see it again.

One more time here and then on this one, whereas we didn't see it on

this low up to this high, this small little tiny swing high was broken,

but it wasn't to my, to my liking.

I didn't like it so much because all it was dealing with clothing and avoid here.

That's all that's done.

Now over here, you have something different all the other day.

This drive lower took out this low, but then now look at the difference.

There's this run up that clears out this swing high, but

there's no void to contend with.

It's broke up through an old swing high of real significance, and you did it with,

well, avoid left in its wake over here.

It's rather.

Consistently traded through a lot in the, it sees a lot of back and forth action.

Think about that.

Paintbrush analogy I use is a lot of coverage of price all

through this range in here.

Whereas down here, it gaps down and then runs real quickly up

leaving all this thin one candle.

Right.

And that's all I did was went right down into this, uh, bullish candle, hit it.

And that's why you had that little bit of a response, but because there's

a real, no, there's no money pouring into the marketplace right now.

There's no institutional sponsorship.

All you're doing is seeing little, tiny little blips, but we called that

little tiny move right to that low.

I'm sorry.

Yeah, the right to the opening of that candle, 76 19.

And that's exactly where this candle shot up.

If I can get my thinking to show the high was 76 19.

Okay.

So yeah, there's an Asian kill zone, but it's, it's really dependent largely when

the UN New Zealand and this pair here.

But to me, it's just, it's like London clothes.

I used to trade London clothes, set ups, but it's, didn't worth

my time or even consideration.

You want to be trading, you know, London through London.

That's where all the money's at the E the millings in there.

Well, um, oh, I was framing the idea that, that we rallied up

through broke this swing high, which qualifies this as an impulse swing,

drawing our fit from high to low.

I'm sorry, low to high, rather.

We got this liquidity void fair value gap between the high of the candle

down to the opening trades down below equilibrium, into discount.

So if all we're going to do is come back down into fair value and close

all this void in, which is what we did.

We saw that reaction here snapped up.

The reasonable expectation would be to see the market reach above.

The short-term highs were in liquidity resting.

Even if it's just going to chop around and make the Asian range going into

midnight into one o'clock in the morning, Frankfurt, that's all you would expect

because the time of day is, is dead.

Is nobody's terribly excited about this time and no real

heavy flows are coming in.

I'm going to avoid talking about other pairs because I wanted

to keep this thing Jermaine.

Just so that way I don't get a whole lot of requests for

this type of this time of day.

I've done two of them then, and it's been lackluster.

All right.

So we have this here.

It's in chart form.

It's in video form.

So we'll see what happens going into London tonight.

Uh, the exercise is to leave it go.

You stopped down here.

Your limit would be up.

76 30, 2 to 76 35.

And that's it.

That's all you would do is just let it go and see what happens.

Okay.

Um, it looks like it could easily go up there and pop through that, but it may

require us to go into Frank or to do it.

And I'm going to close this one here.

Is she all very pleasant evening.

Get some rest and I will see you tomorrow, but we have another eight 30

in the morning news release for CAD.

So we're going to try one more exercise with that until then, which good luck.