Original subtitles

And fear losing 99% of traders today are traders that fear losing.

So you're trading scared money.

Scared money is very hard to make money with very, very hard.

And my example in analogy, using the.

There's a case study that I have hundreds of those.

If we were to sit over top of old journals, I could share, I can show

you where I literally was crying.

And you know, over the journal thinking, you know, what is going on?

Why can't I, why can't I get this?

Why can't I grasp this?

It's like, I see it happening, but I allow the market to scare me.

And when it does, I get out and I class a trade and I'm demoralized

by it because it would be.

Easier if I would just not do it now, the answer to this would

be what I don't, I'm not asking.

So I don't wanna look to anybody's questioned as soon as I see something

that's going to divert my attention there.

And then we'll be talking until eight 30 in the morning.

But what would, what do you think the answer would have

been for me to overcome that?

The easiest thing is, is when I put my trade on, know where I want to get out at,

put my stop-loss on and then set a time.

Where I had to step away from the market, allow either the stock or the

objective to be hit, but allow some time when I started doing this, I

did it in increments of 30 minutes.

That's okay.

I'm in my trade to stop.

I put a stop on, I put a limit order on and then I'll have to walk away.

And I literally walk out of my aunt's house for 30 minutes and

I would walk around to too cold.

This acts that we live in.

To allow the market to do whatever it was going to do for 30 minutes.

And then we'll come back and look at the chart.

And sometimes I'd be disgusted because it would hit my stop or sometimes it would

be in my favorite, but I could see how it would have retraced and stared me out.

But now I'm on the other side of the expansion, so I'm okay with it.

And then I would walk away from the market again for 30 minutes and I

would literally have a stopwatch or my, or my hand on my wristwatch.

And it would count down 30 minutes.

And I'm telling you, it was like six.

It couldn't it couldn't, I couldn't get past those 30 minutes fast enough.

And sometimes yes, I cheated.

I went back up there because the anxiety was just too much.

I had to go back and look at it, you know, where am I at?

Where am I at?

And invariably, sometimes I did exactly that and I got out of

the market before I should have.

And then what happens?

The market explodes in my favor?

Well, it would have been in my favorite, but I wasn't in on the

trade because I allowed short-term volatility to scare me out of.

So the process of keeping a journal, the process of logging those experiences.

Okay.

That helped me submit to staying with a trade come hell or high water.

It's going to hit my stop, or it's going to hit my objective.

You have to have that initial submission.

You got to just let it happen.

And honestly, there's going to be times when the marketplace is going

to make that very hard for you.

It's going to be very lethargic.

And it's going to be times where it's not even going to be a factor where

the market will, you know, when you get in it'll scream immediately for

your profit objective and that's fun.

Those are those times and trading that's fun.

It's amazing how it's a rush like, wow, that was, that was such a

wonderful trait, but don't expect that.

And that's what, that was my expectation.

I expected the markets to do that every single time I got in, you

know, if, if it was going to be wrong, let me be wrong right away.

But if I'm right, pay me right now, you know, pay me yesterday.

I should've already been paid.

The impatience factor I had was ridiculous.

It was way out of normal expectation.

So, and that's why I'm not surprised when I see new traders come to me

and they have these same, these seem unrealistic expectations because I can

see all those hallmark characteristics that I had as a trader that, you

know, until someone sits you down.

And says, Hey, look, you know, this is not the way to be thinking, this

is not the way to expect price, to be, uh, unfolding on your charts.

You're left to your own devices.

You don't, you don't have any reference point.

So what are you going to reference it on your last trade?

Most people don't have a track record or consideration of what they've been

doing over the last 10 or 20 trades.

All you do is think about what the last trade was.

The last trade said I was profitable.

The last trade says I was alluding to.

And the last trade I did this or that, and it worked out.

So I'm going to try that again.

And as soon as you try that same thing, you did the last trade,

which has no basis on why price is going to be doing what it's doing.

And it doesn't start working.

What are you going to do?

Oh, I need to add something.

I need to tweak this.

Let me go in here and change my stochastic settings because it

really didn't give me that oversold condition I was really looking for.

But if I lower the settings, it'll give me what I'm really looking for.

What are you doing?

I did this stupid stuff, but think about it.

I was forcing, I wanted to buy, so I'm going to find a way to

justify it with my indicators.

So I was starting, I started with 14 periods to cut.

And then I lowered it down to a 10.

Then I said, well, you know, uh, 10 really isn't oversold.

Um, I probably should set it down to an eight period at the cask.

Then that way, then it's a, by then the market will react to that.

What am I saying?

There?

I'm acting like this.

The cast is the remote control.

Now all of a sudden, because Michael changed the setting on his, uh,

metastatic, uh, charting platform.

I'm going to set a period to a smaller timeframe then as if he's going to.

That's how stupid I wasn't, again, I had no idea what the hell I was doing.

No idea.

And here's the thing.

Sometimes I was rewarded for that stupid thinking.

I thought that that's what happened as a new trader.

I was thinking, that's what it was.

I figured it out.

They're using today.

They're using the five period stochastics.

And I was thinking that initially I'm like, you know what?

They're just changing their settings on their stochastics.

And we have to figure out what that setting is going to be for them.

For the first hour and a half I'm changing settings on stochastics, like a fricking

I had no idea what I was doing, but I wanted at the time I was believing

that's exactly what was going on.

So believe me, I am not, I'm not oblivious to, uh, looking at

things ass backwards because in the beginning I was doing everything

you could have imagined that more.

And to arrive at where I'm at now is nothing short of a miracle.

I'm just going to candidly tell you, say right now openly.

Thank you Jesus.

For bringing me into my stupidity.

I think if, if I, if I could say like, if I could give you like a table of

contents where the ideal trading book and it's may end up being very close

to what book, I would probably write my, when I get in my fifties and I got

about five years to go before I do it.

But when I'm no longer on the internet and there's going to be a time when

that's going to happen, um, then I'll probably sit down to pen and paper

and come up with a book and you'll probably see it on Amazon and whatever.

But I think the ideal table of contents of like a really good trading book should

be rich with don't do this when the market does this, those types of, uh, topics

for a table of contents where a book.

Everybody writes a book with do this.

If this happens in the marketplace, do this.

If the marketplace shows you this or that, we're all focused on buying,

sell signals and look at the outcome.

It doesn't work.

We, as if it worked, all we had to do is buy one particular book out there for

maybe two or three and it doesn't work.

And one of the biggest epiphanies I had was I was laying in my.

Aunt's house in the bedroom.

Algebra.

I was renting from her and I had a futon back then.

And this fricking things are uncomfortable by the way.

I don't know why I bought it.

I thought it was cool with folds into account or whatever about who held out.

I wasn't entertaining anybody.

I didn't have a life.

All I had was the market and I was trading, but I'm laying on

this futon and laying in there and looking at the ceiling.

I'm like, what, what am I doing?

What am I trying to accomplish?

Do I have.

Like a plan.

Like, do I have any idea where I should be?

And the reason why I was thinking this is cause I was watching an

infomercial by this guy, Don . Okay.

Don lebri and he used to be all over the TV with ads and stuff.

Making money with tiny classified ads.

Okay.

And I bought his, his thing for like 35 bucks.

And I was like, this is stupid.

I wasted 35 bucks for this, but I ended up putting it to work and

I sold a little pamphlet called uh, how the handicap horse racing.

And all I did was I went to the library.

And I looked up a horse racing.

I've never bet on horses.

I've never, I don't even know the beginning.

I wouldn't even know how to do it.

Okay.

So I went to a local library in Essex, Maryland, and I got a horse racing

book and I basically summarized that and I put it into a little pamphlet.

It was like 30 pages.

Um, it was stapled together.

I had a Kinko's at the time, uh, make all the copies for me and

a bit about, about 500 copies.

Right?

In our area in Baltimore, there's a small little circular paper

called the, the city paper.

And I put a tiny little classified ad in the back of this.

And you're probably thinking, what the hell am I talking about this word?

This is how I, you know, this is how I got to the point.

I had to have a business plan because I didn't have one prior to

this, but I put a little classified ad in the back of the city paper,

uh, selling this pamphlet for $19.

That literally cost me 17 cents.

And it all, it was just taking something from a book I got from a library.

So a lot of people accuse me of doing that with trading stuff, but I did

this with, with the handicapping thing.

So I put still pamphlet together and I put the, uh, the ad in

the ad was something like this.

I said, uh, um, make extra money betting on horses, tie, odds, outcome.

The all I dealt about was if you look at the past track record of a specific horse.

Okay.

And all I did was take verbatim.

So I didn't really reinvent it.

I took verbatim what the guy that was writing about horse racing in his system.

All I did was this talk about, this is what this statistical

edge could do for you.

I didn't.

I said, this is what could happen.

Just like anybody else.

If you pick the right lottery numbers, what's going to outcome, I'm

going to be, your you're gonna win.

The problem is what's those numbers, right?

So I was surprised when I got like 1200 replies for this $19 little pamphlet.

And I'm like, what the hell I had to hurry up and start stuffing all these envelopes.

And I hired my cousins that needed help, help me do this.

So I was like, well, let me run the ad.

Yeah, I made almost a hundred thousand dollars selling this little $19 a pamphlet

that only costs me less than a quarter to make something also wait a minute.

I'm only doing this in the city.

In Baltimore so that I advertise it in the avenue, which is a middle river circular.

Then I put it in the Baltimore sun.

Then I put it in the Dundalk Eagle.

Then I put it in the Aberdeen Chronicle app at all, all these

different newspapers locally.

And I was making all kinds of money, all kinds of money off of it.

And I'm thinking stuff, you knew what if I sat down and I did the

same thing as a young man doing this.

What am I doing wrong in my trading?

Because I'm only looking at what I'm taking.

One trade, I'm taking one contract and I'm only doing one thing with it.

I'm only focusing on one thing.

The epiphany I had was if I'm looking at the market and I think it's

going to go up and every time I make money, I'm only taking one time.

I'm buying one S and P or I'm buying one bond again, no something bond.

Cause I mean, I'm sorry buying.

Cause I didn't understand selling short.

So every time I traded, I was always a perpetual bull.

I would never sell short ever.

So here I am.

I'm looking at this stuff and I have a safe in my aunt's

house, in the room with me.

Okay.

It's got a hundred thousand dollars cash that I've made off of

selling stuff in local newspapers.

So the guy Donald Prix, he had this little VHS.

Uh, tape where, when you bought his stuff, it was like, kind of like a motivational

type thing and being a young guy, that was my first introduction to being inspired.

Okay.

Like a motivational psych type thing.

And he was like, you know, never stop thinking about new ideas

to make money, something else.

Well, how could I do.

You know, I made money doing the handicapping horse races pamphlet, and

I bought into his 900 number stuff.

And I made money off of 900 numbers.

They were not sex numbers.

They were all just a matter of fact, one of them was a horoscope, a 900 number, and

the other one was, um, the sports hotline, which really ended up becoming just the,

it was a reflection on what happened in the scores, which I thought was a rip off.

So I.

I couldn't keep that one going, but the one I actually made money

off of it was the horoscope.

It was unbelievable how much, I mean, I was making thousands of dollars every

single month off of people buying, you know, $2 and 50 cents a minute.

Listen to.

And it's what it was.

It was, I ain't, I don't believe in horoscopes.

I think it's stupid nonsense, but it's, I was amazed by how many people just in

the Baltimore area were buying into that.

It's ridiculous.

But they would sit on there for 10, 12, 15 minutes listening to it.

Like it doesn't give them their life life's answers.

But I mean, I was gladly taking the checks.

Don't get me wrong.

But as long as short of it is, I started thinking of how

am I applying this stuff in.

You know, these side projects, what can I do to apply that to my trading?

Because, I mean, I know when I'm right, I make money, but how can I do it

where it makes sense in my trading?

How can I, how can I boost it?

Because the epiphany I had was just like Donald pre teaches.

If you can find one ad that makes you money, all you have to do is

put that ad in multiple newspapers.

Well, great.

I started thinking myself, okay, well, how can I apply that to true.

If I'm going to buy one contract and I make money, then if I made money on one

contract, how much sooner can I do it?

Where I start trading two contracts.

See, I didn't think about this until I applied what I did in my other projects.

And I went back to the chapter in Ken Roberts book that I bought.

That was my first introduction to trading.

It was commodity based and.

We're almost up at this level here.

So when we get to this level here, I want to see expansion.

I want to say drive rural aggressively through that.

So let me get myself prepared here.

And I'm talking to myself right out of, okay.

When this trades above, if it does, there's no guarantee it's going to

happen still, but if it goes above 100 point 55, I'm going to take off.

Three minis.

And then I'm gonna put the stop down to breakeven and then I'll let the rest go.

So that way we know what we're doing, I'll go back to my stories now.

But, uh, so I start thinking myself, if I'm trading one

contract, you know, how, how far.

Do I have to go before I can buy another one.

And I went back to, um, the Ken Roberts chapter about pyramiding

and that's really the core.

And that's what made all his courses.

Um, so grandiose because, um, all of his people that he gave.

And as far as testimonies, like, okay, this is my top students

or whatever, he didn't even call them his top students really.

But in a sense, that's what they were.

They were the ones that did what I did with the $2,600.

You building it out, building up in peer pyramiding.

It, um, it was potentially the worst thing I could have ever done in my own trading,

but it also illustrated the fact that if I can compound my results, I don't

need to do a lot, but still get a lot.

Of what I'm doing.

And that was the basis of how I started building up my, uh, my

accounts and having more trade size behind everything I was doing.

And when I started doing that very quickly and exponentially my money

grew, and then I started applying it to everything in my life.

You know, I started advertising things in other newspapers.

And when you, when I bought the thing for Donald pre.

It's a little, like I said, the guy's dead now.

He ended up killing himself in prison, cousin throat, but to

hear the young man speak, I mean, he was very passionate about it.

Um, clearly you made a lot of money doing it, and he was very braggadocious

about how much he was making like 150,000 hours a week, you know?

And his whole thing was I made $150,000 a week at a one bedroom

apartment, yada, yada yada.

So here I was, you know, making $17,000 a week in my aunt's bedroom

that I'm renting for 50 bucks.

Yeah.

And that was just the trading that wasn't counting, all the things that

y'all just talked about, you know, with 900 numbers with advertising,

the handicapping horse racing, uh, pamphlet, um, it's I was at the time

I was going to buy vending machines.

That's what I, that was my niche I was going to go into because

that's what I was doing for a job.

I was filling candy machines and soda machines and coffee

machines and cold food machines.

So I think, well, I'm going to buy a couple of these machines and bill.

That was mine.

That was my goal.

I'm taking myself to hell am I talking about, you know, I was personally running

a route that made $4,500 a week gross.

And that's that time the vending industry was 50% margin.

So whatever, if you made a dollar, 50% of that or 50 cents was yours.

So it had a pretty good decent profit margin, but the problem is it's a very

cutthroat business and why the hell would I be wanting to go out in the weather

myself and deal with all these things when it's not even going to pay me.

And I was thinking myself, literally I'm laying in the bed with my

girlfriend at the time was in November.

I can tell you it was a Thursday.

Uh, we had a huge snow storm and I said, you know what?

I'm not even going into work anymore.

And my girlfriend looked at me like, you know what I said?

Yeah.

And I told her, I said, uh, I'm making so much money right now.

And of course, naturally he's not believing this because

I've hid it from everyone.

I said, I'm not done.

I'm not doing it anymore.

I'm not going to do it anymore.

My car is buried in snow.

I said, ah, that's it.

And at the time we had pagers back then, and, uh, my pager's going off at 9 1, 1.

It's my boss.

He's trying to get me to answer it.

He's like, are you coming in?

First of all, it's like three and a half feet of snow outside

who the hell is going to go?

Who's.

No, one's going to work.

You can't move, but he's worried about whether I'm going to come to work and feel

as cane and machines instead of machines.

I ain't coming in.

So finally, around 11 o'clock in the morning, I call him back and

I was like, listen, Glen, I'm just going to give you a heads up, man.

I'm not coming in today and not coming back at all.

And he's like what I said.

Yeah.

And he goes, you can't quit.

I said, no, I did.

I quit.

I said, but here's the thing.

I know I'm doing the wrong thing by doing it like this.

Okay.

But just keep my last paycheck.

I'm the only one.

And he's like what I said.

Yeah.

I'm not, it's nothing against you personally.

You've been awesome, but I just can't bring myself to do it anymore.

You know, I have my own thing going on and I just don't want to do it anymore.

And he knew I was trading, but not to the degree I was doing.

But, uh, admittedly, even though I had made a lot of money, then I

was not prepared to quit working.

I was not prepared.

And as soon as I stopped working, trading became really.

I mean really, really hard because I was relaying the fact that if I don't make

money in the marketplace, I'm spending my own money to live, not think about it.

Now, contrast that with you having a job, the going to come every single

time you go to work, you'd put the time in your exchange for time is repaid

with money that doesn't equate to.

The same outcome.

When you look at the charts, you gotta be in the market doing these things.

You gotta be part of the marketplace.

If you're not, and you're not doing it correctly, you're

not getting freaking paid.

You can't pay your, you can't pay your bills.

You can't put gas in your gas tank, you can't do any of these things.

Okay.

So you have to go back to thinking like what I got to get a job.

And that's what I was thinking.

I'm like, you know, do I have to go back to work for somebody else?

I don't want to do.

I don't want to do that.

I can't, I, my personality is once I started making money in other things,

having a job didn't make any sense.

It was stupid.

Like, why the hell would I ever want to go back to working for someone else?

Again, they tell me when I have to do something and I have to

do it, or they don't pay me.

They tell me when I have to do it.

And when I can't do it for, I don't get paid.

They tell me what days I can be home with my family.

And if I don't submit to.

They don't pay me.

That's not me.

I don't, that's not me.

That's not for me.

I don't have that.

I don't have that anymore.

Once I was able to make money on my own, that sense of liberation complete.

He can't put that into words.

So when I saw trading be profitable for me, it was like unbelievable

sense of empowerment because literally think about a lot of younger.

That are just now coming up, you know, you're young twenties, you have

no real sense of, uh, understanding about what goes on in the world.

You really are really naive.

Even if you think you're smart and you've been trading, you made money.

You think you're smarter than you really are.

Believe me.

I've been there.

The folks that have been trading for a long time, I'm talking about folks

they're over their thirties, 35 or higher can resonate with what I'm about to say.

You can't.

Appreciate how the technology that's available to us today.

I mean, you literally can run a multi-million dollar a year

business off of your iPhone with no brick and mortar building, no

employees, no payroll, none of that.

You can do all that stuff from your smartphone.

And I came up through the dinosaur age, going into transitioning

into the technology age.

We're all being so blessed by.

The fact that you have this last bastion of free enterprise in a form of trading.

There's no other business like this.

There literally is no other business like this, where you can literally do it from

any place on the planet with no brick and mortar, mortgage payments, no worrying

about whether your employees come to work.

You're it.

You're the CEO.

You're the chief financial officer.

You're the employee.

You call the shots your schedule's made by you.

You trade.

When you want to trade, you don't trade.

Who cares?

It's completely and utterly up to you.

You're in complete control.

When you own a business, you are at.

You're at the mercy of whether your employees are going

to come and do the work.

And if you operate a business that requires a lot of employees,

you're really asking for it.

That means you got to build this idea in your employee's eyes, that this is

a good company to work for otherwise.

What are they gonna do?

They're gonna look for the next good company to work for when you're trading.

I don't have to worry about who's showing up to work.

When I was placing these ads in the newspapers, I didn't care

about who was coming to work.

I knew there was a newspaper is going to be.

Maybe not that written by everyone, but I knew that there would be

people doing the thing that I was expecting to see as a normal outcome.

The procedure, the protocol to process is the same.

You do this, expect that.

Well, when I started applying all these things to trading and looking

at how, where I was making all my losses or missing my biggest

opportunities, it came by way of her using a journal and personal.

And some of you, newer folks, younger people.

You're gonna look at this as it's a waste of time, man.

And then just give me the next trade and I know don't sweat.

It I'm balling.

No, no, no.

Um, um, I'm busy Domo.

I'm I'm grinding right now.

That's the thing everybody says.

Now I'm doing my grind and get my grind on.

You need to be very organized and actually keep good records about what

you endured and what you experienced, because that's the real secrets.

That's the key because.

We can't, we can all create books and, and, you know, I guess I'm teaching

series and in courses and stuff that teach trading, but the missing components

is an, are your individual application and what it means to you when you're

doing it, because the outcome is going to be uniquely different for everyone.

And you as a trader you're that person that's in the dry.

You're not going to appreciate what's available and what your specific

trading model is until you do it.

Once you see what it's like doing it, and it repeats itself, you

only need that one set up that fits your personal personality.

The one set up that you can see clearly on the chart.

And some of you are so new, you don't even know what that would look like.

What, what is the one set up?

What would be the one set up that I like.

No, there's a few of them that I'm going to teach, but the point

is, is I don't want you feeling.

You have to have any one over the other.

And that's why it's important for me to be in the beginning.

They big, it's good for me to be vague in the beginning, because I don't want to, to

draw an affinity to something prematurely when a later pattern will be shown to you.

And it makes much more sense because what'll happen.

Is this the worst thing that can happen for you as a student and me as a man?

I teach one of three patterns.

And the first one I teach you, not because of order of importance or

preference, but just simply because this is the first one I'm going to teach

when you learn it, I don't want you thinking I'm coming hell or high water.

I'm going to learn this.

And this is the one.

And then you waste a lot of time and energy forcing that outcome.

When it potentially may be the third pattern that you ended up learning.

We're going to be the second one.

Once you have all three of them and you look at them, you

start looking at it in charts.

One will be very easy for you to gravitate to.

It'll just be natural for you to go to that one pattern.

And it makes sense for you to trade that one.

And then you don't force the other two.

You gradually work into them and you may never even use them, but one of them is

going to be your that's your backbone.

That's that's your model.

That's the one that you make money.

And when you see this outcome over and over and over again, repeat in the charts.

Your confidence level will go through the roof.

You'll have no problems taking the trade.

You'll know what the outcome should be.

And what's reasonable.

What's what's the reasonable adverse price action for that

particular pattern or that.

That's what's lacking.

If you could create a book that would give you topics like that,

like don't tell me when to buy.

I don't care about that.

Don't tell me when to sell.

That's not what I care about.

Tell me how I'm going to lose money.

Where's that?

Where's that seen in the chart.

Okay.

Tell me where I'm going to be seeing something.

That's really not an opportunity.

That's the stuff that makes money because you ended up keeping.

Making money and trading goofballs and lucky people.

And I was one of them.

I started my whole career on that.

Just that very thing.

It was luck.

Now immediately as a young man, I would have never attributed that as luck.

It was, it was skill baby.

I did it all on my own.

I worked my ass off for it, yada, yada, yada, but it was luck as a mature man.

Looking back.

My initial success in trading was 100% attributed to.

There was no skill involved at all.

Now, knowing that, that gives me a great deal of objectivity about how I look

at the markets now, because I have a frame of reference, how I looked at the

market then and how I look at the market.

Now, it also has a paradigm shift from feeling I have to be right to

knowing that I don't have to be.

I don't have to be right.

I can be wrong and still be profitable.

That was a concept that would've never been able to be communicated

to me as a young man, because as a young man, think about men in

general, we don't want to be wrong.

The last thing we want to do is admit we had done, we'd done something

wrong, especially to our spouse or a girlfriend or our boss, because it does

what it shows weakness in our eyes.

It shows weakness.

No, when it shows us accountable.

That's the difference.

That's the paradigm shift.

So, because you're your own boss, you're running this trading business.

You're the CFO.

You're the CEO.

You're the driver's seat.

You're the trade manager.

You're everything.

Okay.

If you're not responsible and you're not accountable, who's going

to be, who's gonna do it for you.

I'm not, I can't, your broker's not gonna help.

So you have to have these things in place.

When you're looking at your trading model, they have to be outlined and written.

They have to be, this is what I do when I do this.

And this is what I do if this happens.

And by having it written out in a procedure, it's kind of like a

standing standard operating procedure.

When I was working in the, uh, the food industry, when I

was managing, uh, the pizza.

The place had what was called an SOP standard operating procedure.

So that way, Trey, uh, not traders, uh, new trainees would come in and we would

show them, okay, this is what you do.

This is what you do as a normal standard operating seizure.

That way, if you did anything outside of that normal procedure,

then obviously that's the reason that the root cause of the problem.

So that way you can go either discipline that person.

You terminate them on the basis of repeating outside the parameters of the

SOP or standard operating procedure.

So you need to create an SOP for your trading model, you know,

on specific days of the week, I do this and I don't do this.

And this time of day I do this, but I do not do this.

And then inside that you refine even further by saying, okay, once I do.

I can never do this.

Or if I do X, I will do this if this happens, but I won't do this.

If that happens.

In other words, a whole lot of if then a syntax.

So if you, if you know anything about computer programming, that made a

lot of sense, but if you don't, it's a simple matter of having a flow

chart and that's what it did for me.

I, I simplified my whole decision process.

Into a flowchart.

And I remember sitting up there in my aunt's room.

And, uh, you wondering if I would ever have any subjectivity

to all this because it's good.

As I thought I was, then every single time I took a loss, I reflected on the

fact that is this all going to stop?

See, I know what that feels like when you're asking me

this all the time, I get it.

I'm on every single day.

There's a, there's a guy or two somewhere in variable.

He's going to email me and they may have an email that has something to do with

something else entirely about trading.

But they'll always, they'll always tag this in there.

I'm afraid this is going to stop working.

Why, why are you, why do you feel that?

Because I can tell you why I felt it.

I felt it when I was losing money.

So I know these people that are asking they've lost.

You've lost money.

There's the only reason why you, for you to ask that question is

because you possibly seen it work once or twice for you already.

And now you're fearful that, Hey, my golden goose is about to get cooked.

Is this, can you, can you reassure me that this is going

to continuously make me money?

First of all, I can't guarantee anybody's going to make any money.

I can guarantee you're going to have an understanding about price action

that can't be found anywhere else.

That's the only thing I've ever promised.

The delivery of the content will lead you to your acceptance, to the

fact that there's no way as long as the markets are going to be trading.

There's no way this is going to stop working because this

is how the market works.

That's like asking the car to stop being a car.

And when you put the key in the ignition, you turn it, it doesn't

suddenly turn into a horse and carriage.

It's going to remain being a car.

And that's a simple, stupid analogy, but that's the same thing.

It's absurd.

For us to think that this is not going to continue working because it's

exactly what the whole process is.

Casinos are not going to start selling baked goods.

They're going to deal with games of chance.

That's their business model.

Well, the banks, they deliver price.

That's their business model.

So don't think and worry about whether or not it's just going

to continue working or not.

It is, it's absolutely on to, but I'm never going to

adequately convince you of that.

Just would it be.

I'm not going to bet you that with showing chart examples, you will submit

to that by you seeing these things unfolding all the time, repeating every

single week, there's going to be this epiphany that takes place on your own.

You'll say, you know what?

I don't ever worry about this.

Never working again because I'm busy doing it.

I'm not worrying about it.

I mean, thinking about it with your own job, because most of

you probably have your own job.

Do you go to work every single day.

Now some of you may be thinking this because of downsizing or whatever, but,

uh, you go to work worrying about whether you're going to have that job tomorrow.

No, most of you don't because you grown complacent that as

long as I show up exchange my time for money, I'll have my job.

I know my minimum expectation and I'm going to do just that.

And sometimes if I can get away with it, I'll do less than that.

You know exactly what I'm talking about because I did the same, but in trading.

It's the same way.

Once you understand what you're doing as a trader, you don't go in everyday.

Man, is my stuff going to start working today?

Is this the day that everything falls apart and technical analysis

and price action no longer works.

Now it becomes something entirely different.

No, nobody does that.

That doesn't, that doesn't happen.

That's crazy thinking, but it's easy to start thinking that way because

what this is like, uh, it is a curse.

Let me say it like that.

It's a beautiful, wonderful opportunity for anyone, for any walk of life, any

culture, any financial background, any starting capital size can turn this

into a very, very profitable business.

And the sky's the limit.

There's no limit on how much you can earn.

There's zero ceiling in earnings in this.

That's the blessing side.

The curse is there is a landmine in front of everyone that starts doing this

business and they have to either navigate through that on their own, or potentially

step on something and blow a limb off.

Okay.

And maybe.

Maybe come back to the point where they can continue a little bit further into

that landmine of, of understanding.

And eventually, sometimes it's still blow up and, and, and never make it there.

The, the curse is we're all led to the belief.

The belief is that we can all do this, but we can all do it with no

understanding, or we can all do this with the same understanding that

comes by way of retail understanding.

And it's people like me that come up out of that.

Okay that you hear about and you aspire to be like, but I'm not

attributing my stuff to retail.

Um, I'm attributing everything I've done successfully by doing 180 degrees

different from what retail's done and what teaches, uh, retail minded traders.

So when I, when I'm on the internet and, um, you know, ribbing other guys and such

or other educators I'm doing it because I know I fell victim to that same stuff.

When I was younger, I believed everything.

I was buying everything hook, line, and sinker.

I could, I would have given my left arm for someone to be able to sit down with

me and explain what the commodity markets were dealing on a day by day basis.

I literally, I literally would have given everything I had.

Just for someone that I could learn from, and it could tell me before it

happens, explain to me why the corn market's going, where it's going.

You know, why is, uh, why it's live hogs?

And that's a, that's a market and commodities by the way.

Um, well, it was now, uh, it's lean hogs now, but the, uh, the point is,

is I needed, I needed to have that back then and that would've avoided a lot.

Really just things that tore my health up, that I still deal with

today, digestive issues and such.

But the point is is you, you have a wonderful opportunity and I'm not

saying just for me, but for in general terms, you know, the technology that's

available today makes learning so much obtainable, um, so much more effective.

And accessible.

And you have literally libraries worth of content in your smartphone

by accessing, accessing the internet.

Now, granted, there's a lot of things on here that you shouldn't

be looking at, but by far and large, I mean, you have no disadvantages.

Now you have none.

You have no disadvantage that myself and people that have been doing years ago.

Okay.

You're you, you have no idea.

You're spoiled.

You don't even know how good you got it today.

Even with those advantages, still people are losing their ass and

they are not able to make money.

They're not able to do it because they're still perpetuating these

ideas that, you know, it's so easy.

A caveman can do it, come in here and put your money in, plunk it down.

And you know, you'll be retired by the end of the week.

Don't worry about it, but you know, booked a vacation now.

So there's no reason for you to feel.

Knowing that, uh, you know, you have to do all your money making now because

the market's going to stop working.

That's that's the take away from what I'm saying here.

Um, there's no reason for you to feel like, uh, the, the

game is going to stop working.

It's very profitable for them.

So even if a large chunk of people.

Uh, even ear to my group was 20 times.

The size of it is.

And thank God it's not, um, it still wouldn't even impact how the

markets trade because it's, you know, like I said, look at what goes on.

I mean, I got 7,000 people that follow me on my public Twitter.

Now some of them are robots.

I'm sure.

Cause I mean, it's just the way Twitter is, but on that free profile,

I accept anybody that asks to re you know, to follow me out of there.

7,000 people, only 850 people.

Bit the hook and joined the mentorship.

Why is that doubt?

Regret anger.

Oh, you're charging money now.

They immediately went to emotionalism.

Oh, look at this.

He's charging money.

Well, I told everybody that I could literally put this stuff on

the front page of the USA today.

Run it for a whole month, every single day.

And it would go, it would just go unnoticed.

It would be.

Because the frame of reference and your belief goes away and it's

challenged by your own thinking.

And your own thinking is limited as a new trader.

You have no frame of reference.

You have zero frame of reference, just like I had zero frame of reference.

I didn't know what is a viable trading method.

I didn't understand what trading with money management.

If I can afford to buy 20 contracts of Chicago board trade

of wheat in July, 1995, screw it.

I'm buying 20 contracts.

I'm doing it.

The initial margin says, I need this much money to do that trade.

I have it in my account.

I'm calling my broker.

He doesn't care.

It only takes three and a half cents movement against me.

Before I get wiped out, he's taken a commission.

I need the same thing about as a broker.

You want to do 20 lots of 20 contracts.

Great.

Come on.

And I was paying a hundred dollars a contract, right?

Now do the math on that.

Yeah.

You think you're paying a lot money for fees and commissions today.

Every contract round turn that means paying to get in and paying to get out.

It costs me $100 for each contract.

So please don't bitch and moan about how much you gotta pay for

your, to your commissions today, because that is, this is cheap.

This is cheap.

This is free money.

I was spending, I was spending a lifetime worth of earnings inside

of a month with just my, and believe me, Fox investments and Lynn Waldock.

They love me.

They love me.

And if you'd looked at how much I spent in commissions, because of that, I mean,

if you would've just took half of that away, I would've made a fortune doing.

I mean fees back then were very, very big impact on our trading bottom line.

You know, I just realized I covered so much and you're probably, you're

probably your head's probably spending like what the hell this guy is going

from one thing to the next, but this is what happens when you get inside my

head, you probably, you probably were not prepared for what you're going to

encounter, but that's, this is what you get with 20 plus years of doing it.

So many, so many experiences, so many stories I can refer back to them.

And I guess this is better than, uh, to sit here and Watson, this

chart, this paint like paint drawing.

I didn't want to see it had to drag it on into one end, but apparently it looks

like it needs to do it before stabbed up.

And then at 155 level, watch that a 2370 level cable.

I got to see what 2375 sell side liquidity, wanting to see this candle

here, flip the green and drive through.

That'll give us some, some momentum on the downside over here.

I'm actually going to take a portion off.

At 20 pips at this point here, if we get below this low, it's not allowed in my

opinion, and through my, for my trade, I don't want to see it consolidate anymore.

It gets below this low.

It needs to start expanding lower

the weekly high here, 100 point 52, it's looking for

expansion through on the upside.

We touched the bottom of that range.

I don't identify on the, on the daily chart for the Euro.

The beginning of the video, uh, Debbie began with a 1 0 6 87.

I was wanting to see a little bit more pushed through.

And so far, we only went to 100 point 55, which is what we call the four.

But because we didn't see that full drive-through and we're in a really,

really overbought condition, I'm going to collapse the trade here and take full

profit on the next pass to 100 point 55

lower to stop down the two.

I don't want to see anything snap up against me.

Hi folks.

I'm going to take

three minis off here and lower my stop.

So I'm locked in 10 pips and I leave the rest to see what if it can sweep up.

100 point 55.

Okay.

Thanks.

That's a wrap.

Just stop when the balance was taken.

So yeah, there you go.

Very, very slow, slow, slow day, 100 point 55 level hit to the PIP.

Now you go for accountability or today.

My goal for the month is 24%.

I'm an 18.2 now.

So we got some time for it.

And then a month that is going to be it for today.

I don't have any more opinion about today's market.

Uh, it's already hit my objective for today and already traded off.

So something to study, if you're going to be in front of the shark and you have time

still watch the order blocks down here.

We mentioned earlier today.

So now that the focus is now here, so 100 point.

Or thereabouts, uh, we should be able to see some support there and it may

want to run one more time above 10.

I'm sorry.

100 point 55.

I don't have a trade from here.

We're way, way, way too extended.

Um, this was the weekly objective.

Let's go out to a weekly chart again, just for completeness

and then our closest session.

So that's this high back here.

I came in at 100 point 53.

Today's high 100 point 55.

So didn't see any follow through right away.

So you had to wait and see if we'll get another opportunity to see if we

make a run cable that it's order block.

And here I see a little bit of a push higher dollar CAD.

I wouldn't touch it today.

We got news out 10 30, um, critical inventories again.

And until I talk to you again, good luck portray.