All language subtitles for 2. Barbeumvinte

it will allow you to accurately
measure and optimize your

the markets every time a high
probability trade setup by your

strategy, can you actually
identify the bottleneck and

fixed position sizing then
fixing these of your training,

adapt to the constantly
changing market environment and

strategy performance. Only when
you have a clearly defined

percentage of your total
account balance and then the

actually stay ahead of your
competition in this zero-sum

then fix, tweak, and improve
your strategy. It's how you can

game. If you want consistent
results but the market is

sequence of their winning and
losing trades so they always

using partials, how much volume
are you going to partial at

the four hour and when you will
just use the M-15 or if you're

risk of your initial position
has been removed. How much will

try and predict the markets.
You just have to try and be in

you risk per day. Now you can
define this by the max

down before you're even looking
at the charts to trade each

this, you know, kind of based
on your gut feeling when you're

in the trade. You need to have
this all laid out and written

that is risk management because
professional traders, they

sizing, you manage your trades
like an algorithm and you use

consistently use fixed risk. So
to summarize, if you enter the

same way every time, use a
fixed formula for stop loss

betray your stop loss? What
time frame are your targets

slave to your strategy. You do
need to try. You don't need to

just make sure you define all
of these ahead of time and you

same for your total open risk.
So this is how many trades you

random, then be consistent in
what you can control and be a

will have running at one point
with stop losses fully open. So

Define how you will scale in.
Well, you only do it once the

manage your trade by trading
your stop loss behind the swing

reverse. But again you must
have a mechanical way for

each of those levels? You know,
you don't just want to be doing

percentage of your total
account balance on each trade.

understand random distribution,
right? That noone knows the

using a fixed position sizing.
You're risking the same

keep their risk constant. So,
make sure that you are always

high or low or just the M-15
for example? Or are you

going to use both? If you are
going to use both, then you

many traders don't really spend
too much time considering and

need to define in what
situations you are targeting

going to be based on? Are you
targeting the four hours swing

day. Now, the final main area
to look at is one that I think

order How many pips behind the
swing high or low will you

pips in front of your key level
will you set your take profit

but as always you must be
extremely specific so how many

in theory you should be exiting
on the the trend change right

guys know I really recommend
personally but you can actively

highs and lows and just simply
following the trend so this way

this to work now the other way
which is one you know as you

drawing and identifying your
key levels on your charts for

points in the market where we
expect price to pull back or

zone or maybe a week swing high
or low or any obvious liquidity

level. So, you can target an
unmitigated supply and demand

another way is setting your
take profit order on a key

profit order 50 pips away,
right? 10 times five, Now,

and then you're targeting ten
R, you would then set your take

target is you take your stop
loss size and then you

risk ratio is. So, let's say
your stop loss was five pips

obviously multiply it by
whatever your chosen reward to

even only once price has
reached fiveR running profit

for example right? So you can
start to get bit creative here.

Now, the way that you would
calculate your actual profit

either stopped out for a full
loss or price hits your target.

Or maybe you want to you know
move your stop loss to break

risk to reward ratio. So for
example you may trade a fixed

RR of 10 to one where you use
no active management so you are

approach. So what are some of
the ways in which we can do

this? Well we can use a fixed
take profit order based on a

the long term benefits from
that consistent management

and dissatisfaction in the
short term because you will see

single time so it helps you to
eliminate that feeling of greed

know that you're going to
manage the same way every

you've actually executed your
trades and exited because you

room to be annoyed if price
continues on further after

like a robot then this can help
to eliminate any room for those

potential emotional mistakes
and also you know there's no

money is involved we tend to
make quite irrational decisions

strategy where you know we can
simply just follow the plan

right as humans so if we have
that mechanical management

you now have your capture at
risk and wherever you know

manage those trades well. So
once you have entered the trade

those great returns are the
ones who can consistently

obviously your emotions are
going to be pretty high because

great trades but what separates
out those who get you know

they have the ability to pick
out and enter really really

with many traders I've seen
that a lot of them you know

hindsight traders. So the third
area is trade management and

you know if you could
hypothetically only make one

when you have a subjective and
inconsistent approach to to

it. Now why do I say that? Well
it's because of after working

consistent approach that then
you can look back on and just

and improve your strategy
because you have that

and optimizing and it makes it
really easy to you know adapt

area of your trading strategy
mechanical then this would be

placing your stop loss remember
We are trying not to be

tweak that little bit right and
obviously you can't do that

even if you find you keep only
just getting stopped out then

you know exactly what part of
your plan then needs refining

followed your plan perfectly
and consistently now of course

instead you will be assured in
your approach because you

favor but then instead of you
know looking back in hindsight

and saying oh I should just had
a slightly to stop and then you

it's obviously going to be far
easier on your emotions at

times where you might only
literally just be stopped out

know sitting there counting all
of your missed potential profit

on now once you have a fixed
method for stop loss pacement

by even a micro pip before
price then reverses in your

from pair to pair and what time
frame you're actually entering

swing that you will place it
and of course this could differ

reward a little bit but it may
boost your strike rate but just

in the position obviously this
likely sacrifice your wrist

again you know make sure you
define how many pips behind the

of the zone you might increase
your odds of actually staying

case price pushes you know
further towards the extremity

zone you may also want to cover
the actual swing point just in

instead of just protecting your
stop behind you know the entry

uncertainty or hesitation and a
final way is just to use a

fixed stop loss behind a swing
high or the swing low so

of sizing your trade every
single time leaving no room for

tested your strategy you know
you may find that over a large

volatile than Euro dollar in
terms of its average shoe range

which just means in terms of
how many pips it moves a day

you may find that six pips is
actually the most optimal stop

and sometimes there's you know
slight spikes of the zone just

sample size of trades actually
three pips is the most optimal

frame you're on and what pair
you trade so you can also use a

loss size so now you have a
fixed mechanical consistent way

might be trading M 15 POIs,
right? M15 zones but you're

premium or the discount. Now,
when you draw your zones are

pound yen which is which is
typically quite a bit more

pip whatever it will obviously
differ on kind of what time

you are in the premium or the
discount? For example, you

single time so you know it
could even just be half a pip a

your entry zone need to be in
the premium if you are selling

stop loss size to always use
but then maybe for a pair like

to make you kind of you know
consistently do that way every

you're going to use both so
you're going to use zones that

would advise is that you define
the exact number of you know

jumping all over the place are
you going to only use flip

maybe you just want to use risk
entries on the M-15 zones for

if so, what time frame are you
going to use to determine if

let's say with Eurodonna you
know once you've obviously

are you also happy to use the
15 seconds, you know as well or

fixed stop loss for each
individual pair you trade so

cause flips and break structure
does it need to be a sweep zone

price to enter the zone and
then hit an instant market

way consistently every single
time. So essentially we always

are constantly tweaked and
refined by human input. The

you going to set a limit order
or are you going to wait for

behind the zone you know just
to account for you know spread

100% discretionary where the
trader literally has zero

pips that buffer that you
want to give your stop loss

all training strategies fit
somewhere along the scale from

doubt when you're trading so
that you can act with ruthless

test. This way that you can
prove your edge with data and

scalable approach so you can
snap out of the break even

that you have to make in the
market but it's also extremely

lot. People can over complicate
trading but we know that the

essentially betting on hands
when they don't even know what

given a £1 million pound
trading account today are you

the lack of capital you know
which is the reason why they're

zone that we enter on as an
absolute minimum but what I

so that's 1% risk on a million
pound account right would you

capital or you know funding
from a prop firm and you can

gambling with zero edge. But so
many traders in the markets are

discretionary and subjective
approach to trading is tough in

bet on a hand if you couldn't
see your cards? Of course not.

change my approach to break out
of it. Not having a proven

the fomo of seeing those
winning trades play out without

know those winning trades and
then after feeling the pain and

always place our stop loss
behind the supply and demand

edge you have? You have
absolutely no idea what

ways of doing this like
anything in training but we

you don't need any details out
so second key area to look at

in which you do enjoy it. How
is that possible? Well, when

must be as specific as possible
because there is no other way

zones or are you only going to
use structural zones or maybe

another time frame just so you
know you're not constantly

this before I changed my
strategy where I would take a

using the Mone for execution
within those M15 zones. So, you

each loss is bringing you one
step closer to your next

enter will you enter on the
distal in the front edge of the

hesitate my own ability so that
I would naturally skip trades

even a fractal refinement where
on the zone are you going to

zone or will you always enter
on the EQ or will your entry

than one and in what
circumstance it is valid to use

to be consistent with your
approach so just make sure that

and practical and we're
going to dive into each of

hesitate or doubt their next
setup and they're the ones who

but they nearly always
eventually blow up unless they

to avoid that potential pain I
would then inevitably miss you

took, each loss felt like a
direct threat to my plan to try

that you will then start to
enjoy those consistent results

loss placement. The third being
your trade management and the

market is a dynamic environment
which is always constantly

themselves into a deep drawdown
or maybe just continue, you

an edge over algorithms and you
know that's why algorithms they

might use the M15 range to
determine if price is in the

looks back and they review
their trades and then they see

depend on how big your subtle
size is instead you know you

with ruthless decisiveness and
extreme clarity. No one likes

losing, obviously, right? But
imagine for a second, a world

formula for consistent
placement now there's multiple

is your stop loss placement so
you need to develop a fixed

more confidence to continue to
execute with minimal emotional

human judgement and it's
actually that small element of

know, playing that break even
game for years and years, never

that they follow their plan
perfectly, they're not going to

buy range or will you refine to
a pivot or a single candle or

you always going to take the
entire buy to sell or sell to

and sort of very systemized
approach but it will also allow

order what time frame are you
going to use for your entry

in your proven edge to be able
to eliminate any hesitation and

more mechanical and systemised
so you can start getting

interference and they take the
next trade which is a 5%

therefore, you have no real
idea if things are going along

to execute the strategy for
you. I personally think that

so we can see exactly why this
is such a major issue for

an error next. Now, obviously,
without a reference point based

of trades taken is relatively
certain and predictable but

or does it need to be in the
discount if you are buying? And

know which time frames are
valid for you and if it is more

so does the zone need to take
liquidity when it was created

these four areas to kind of
look at how we can make them

results. So trade entry you
must enter the market the same

be able to confidently risk 10
grand on the next trade with

does the zone to have
inducement in front of it? Does

example whatever you want to do
just make sure you define you

strategy that you can
consistently execute and easily

execution are you always
going to use the same time

very quickly scale to multiple
six 7 or eight figures the sky

framework but just decides with
a gut instinct all the way up

need to fix. First being trade
entry. The second being stop

obvious that the discretionary
trader with that subjective

changing so we need to adapt
with it. So how can we make our

because you're executing the
same crystal clear setups again

tend to you know they can work
really well in the short term

pretty simple but what type of
order are you going to use are

path to success is very clear.
You must have a systemized

be able to scale until you have
extreme confidence and clarity

this is where you will enjoy
all of the benefits that we

up losing me more money so I
was stuck in this never ending

in your approach because if
you're not then you will never

perfectly met your strategy
criteria, then you know that

probability you have of
winning. It's just pure

they catch a2% win now you can
see after those six trades the

fourth being risk management.
So now we're going to get nice

the unpredictability of the
game at the micro level and

and again managing the trade
the same way every single time

your current strategy with
extreme confidence and clarity

strategy mechanical? Well there
are four main areas that you

then once you prove it with
cold hard data that is the only

yourself would you be able to
confidently risk 10, 000 pounds

all of the defined criteria of
their strategy who can then see

statistically reliable outcome
and that is your true trading

Why on earth would you do that
when you you can't see what

simply a cost of doing business
or will the panicking trader be

trades that should never have
been taken and those losses

death loop which was you know
feeling off itself because I

have just discussed from you
know, having that mechanical

the sweet spot for training is
around that 70 to 90% mark and

drastically minimised and you
will then be able to execute

losing traders. So, after those
four trades both traders are

you to avoid some of the
drawbacks of being 100%

hard to accurately test and
journal your strategy because

really going anywhere wasting
their time, energy, and money.

level you have to believe that
the outcome over a large series

because I wanted to quit my job
so badly. So, I wanted to

mechanical because you still
need a little bit of room for

on clearly defined and sound
rules, you have no way to

as possible. Is it going to be
the trader who can analyze

traders problems because if
you're playing poker, would you

decisiveness you must have a
consistent repeatable and

ability. Who do you think is
now more likely to be hesitant

truly is the limit you know
many traders moan that oh it's

extremely systemized approach,
I would start to doubt and

human judgement that is
required that actually gives us

frame for entries no matter
what say such as the Mone or

is actually random but on a
collective basis, when you have

to 100% mechanical where you
can literally use an algorithm

really good strike rate it's
very likely that these losses

look to enter on supply and
demand zones right okay sounds

not having any success but let
me ask you this if you were

then not make those emotional
mistakes because it's only once

when they review their trades
and they look back and they see

as planned or if there is a
real reason for concern. You

could have been completely
avoided. I think it's pretty

defined edge is very likely the
root cause of most losing

that you desire because then
you have a sustainable strategy

discretionate trader, they're
just going to keep digging

determine that now consistently
profitable traders we have a

your psychology. It's very easy
to second guess any decisions

which you are now ready to
rapidly scale acquire investor

and that is when you actually
the solid foundation built upon

you've developed that
bulletproof mindset you will

how can you have any certainty
if a trade is actually valid a

because you know, I couldn't
face taking another loss

way in which you will have a
bulletproof mindset and once

actually working or not and
then you can accurately, you

ready to comfortably trade it
you know be honest with

dance and start to rapidly
compound your growth. You see,

was just so desperate to make
it but all I to do was simply

trader because you do not have
to be. Having a very

those four losing trades and
clearly see those trades met

of their probability model or
if they were simply just bad

and escape my 9 tofive but then
because I skipped trade setups

you cut out those emotional
mistakes and those slip ups

trade. No doubt or hesitation.
Now think of the market of a

cards they're holding. It's
insane. Do not be a blind

next trade out of fear or take
a low probability or even

me I would then revenge trade
by you know rushing into poor

they don't need to know in
order to make money

Hesitation kills traders. Once
you have a mechanical and a

clearly defined rules-based
strategy and this eliminates as

hesitation or doubt in their
trading. So if we go back to

become a full-time trader and
then, every single loss that I

few losing trades but then
because I didn't have an

consistently. They don't care.
And that's why they don't feel

you do have a systemized edge,
as long as losing trades

do you define a key level? How
do you draw them consistently

profital run of trades. Now, I
used to struggle so badly with

the whole way through until the
setup has met all of your

setups which I'm sure you can
guess of course would just end

march on to new account equity
highs but whilst the

Where and how will you scale in
to add your position, okay? So,

traders who are just struggling
to find real consistency and

represent a trading decision
that you must to progress to

stop doing the break even dots
because the mechanical trader,

contradict each other and the
first is the micro level

where to place a stop loss of
you know where it looks pretty

and successful at what they do.
They have learned and

and do you remember the two
layers of beliefs that

the max level that makes the
professional trader effective

are going to catch their next
stream of profitable trades and

what I see happening again and
again with you know so many

a part of their probability
model and those trades were

out they're frustrated they
missed it but you know they

in the market after just taking
a few losses will be

profit while the discretionary
trader is down minus 2% this is

true. If a large enough number
of trades are taken, patterns

they utilize to trade the
market and within each of those

diagram, you know, from the
starting point of analyzing a

they miss out on the winner now
that they see their trade play

parameters ahead of time, you
are establishing a basis for

you know just for the same
setup it's very open to

hesitating after taking those
losses and they can't face the

systemised strategy, the level
of emotion that you will feel

pain of another potential loss
so ski their next setup and

discretionary trader that
they've been doubting and

trader with the systemized
approach is sitting on a net 3%

an order, you will go through a
decision-making process. Now,

single criteria in their trade
plan they're going to have way

deep understanding of something
called random distribution

that those losses or actually
just in fact valid trades that

measure the outcome of your
trading decisions and

winnerand they see their edge
playing out but the

are just simply part of the
probability model playing out

that they followed their plan
perfectly they ticked off every

the one who has no real idea if
those losing trades are a part

down let's say minus 4% now
when the systematic trader

right, you know, whatever that
means. Now, both of these

trade that's a complete fantasy
of course I'm talking about

interest on the chart that they
consistently, you know, repeat

and this is decision-based
trading. Where the trader

need to eliminate the variable
that is you. And the only way

with accuracy. Sometimes,
they'll try to stop. Other

of time? Well, there are two
types of trading strategies.

negative emotions and is
therefore most likely to make

process for consistently
placing them. They do not have

think is going to be sweating
more? Which one is to panic and

to do that is to make
consistent decisions that can

and resistance levels but they
don't have a fixed systematic

have a bit more confidence so
they execute the next trade and

hindsight after you have made
that decision regardless of the

having the certainty that you
are making the correct decision

approach is the one who is most
likely to be feeling those

will emerge that produce a
consistent, predictable, and

safe to place it You know,
they'll use horizontal support

a larger sample size of trades,
just the exact opposite is

then being frustrated
afterwards when they see the

styles and they've got a lot of
options open to them at each

and the unpredictability of the
outcome on each individual

rules. There is a clear set of
criteria that they take off to

and make an emotional mistake?
Who is more likely to skip the

if you have been trading before
because the majority of losing

our two traders, the mechanical
and the discretionary trader

the market. So how do you stop
this back and forth rhythm

subjective interpretation
sometimes they trade from the

make every single trading
decision so that they make the

random trade and to try and
make their losses back as soon

are a part of their strategy
and therefore those trades are

know, refine and optimize it
over time. So, let's look at

remember at this level you have
to believe in the uncertainty

be measured. Now, let's put
some numbers on the situation

who both just took four losses
in a row, which trader do you

50% Fibonacci level sometimes
from the. 618 sometimes they

probability model or if you had
made mistakes or just executed

here's the major key remember
it's the ability to believe in

every trade but what it will do
is it's going to help you to

right and we know that the
outcome of any individual trade

doubt their strategy or even
begin to doubt their own

know, just manually close and
exit a trade if it doesn't look

decisions over and over and
over and over again. Having a

hitting four losses a row is
perfectly normal and expected

simultaneously believing in the
predictability of the game at

want to miss out on all of that
potential profit so you

even if you have a strike rate
of 75%, which is a really

but if you take four losses in
a row how do you actually

of the open-ended possibilities
and it gives you that narrow

determine if those losses are
simply just a part of your

going to happen next. No one
does. But more importantly,

that you were in when you don't
know whether to hold a trade or

best decision would be and to
be honest it just used to my

trade and the second layer is
that macro level and at this

professional traders hold that
on the surface, they do seem to

knowing whether your strategy
and your edge, whether it's

because I know I used to feel
that doubt and hesitation all

bad trades that you should not
have taken how do you actually

manage your risk, minimize your
losses, and nail down and

action which over time will
drastically drastically improve

your of success. By clearly
defining your trading

then you will drastically
reduce the chance of you making

poles of indecisiveness about
the future and then regret over

confirmation but I don't want
to go without me or maybe you

love with trading really
because it's only when you have

level, will you set your order?
Are you going to scale in?

an emotional mistake now the
second type of trading strategy

same set of decisions over and
over again. Now, the second

know that they have you know a
couple of rough styles that

behind price will you trail it?
If you set a take profit order,

it a series of binary questions
that only have a yes or no

level so they've got many
different entry confirmations

I think you get the picture,
you know, that there are many

edge. It's just logical basic
math. There is no way around it

path. What entry signal are you
going to use to enter a trade?

a consistent mechanical method
for identifying areas of

traders, they both experience
four losses in a row. Now,

completely accepted the fact
that they don't know what's

how that works. So each of
these hollow circles they

secure your profits and handle
unexpected events with decisive

mechanical strategy of course
won't guarantee success on

place it in a different area
every time. Sometimes, you

first box, then you move on to
the next criteria. If it

combination of both. If you do
trade a stop, how many pips

currency pair all the way
through to actually executing

just use an EMA and they
kind of just randomly pick

times, they'll just place a
take profit order but they

Will you trade your stop behind
price or sell order or a

the same way every time? How
many pips in front of that key

your stop loss? How will you
manage your trade? Will you

trader to set their own
parameters ahead of time with a

as many of the individual steps
in your decision making process

a clearly defined systemized
trading plan with very strict

for the rest of your life you
know I've been there thinking I

course of action to take. So
you simply make the same

two different traders. The
first trader on top, they have

trader they utilize a much more
discretionary approach so they

you be so certain that you are
making the right decision ahead

doesn't meet that criteria,
then you simply do nothing and

the right decision next time
then you're stuck in that cycle

leave your stop loss open or
will you move it to break even?

decisions to make when we're
trading. So, it's down to the

game like Pac Man. I'm sure
you're all pretty familiar with

Will you wait for a supply and
demand zone to form? How will

knew I should sold them but you
know what it's okay I'll make

markets. There is no map. It's
down to you to choose your

profitable trader do you
want to be a hindsight trader

the next step. You have
practically unlimited

outcome so that essentially it
follows and if then process. So

you use to enter the market?
Where are you going to place

you define that that zone is
valid? What type of order will

where will you place it? On the
next key structure level, how

think about you know
programming your trading

that creeping doubt in your
approach that you know you can

is what's called a mechanical
strategy which essentially is

which trades to take based on
their own you know human

possibilities of getting from
point A to point B in the

minimum criteria and then you
can just simply execute the

and current market conditions.
So, as you can see in the

now I don't mean certainty and
that you're going to win every

feeling hesitation and how do
you stop feeling regret in your

mistakes how do you stop
feeling doubt how do you stop

back of course I knew I should
have bought it or I knew I

of the time you know where I
was never quite sure what the

fact but do you ever these
emotions in the market you know

take regardless of what your
human bias may think so if you

your plan to see if it meets
your criteria. If it takes the

you move on. Otherwise, if it
does, then you just simply work

poles so you can make your
decision making as objective as

hesitate and you agonize over
what the right decision is

problem with approach is that
the more discretion you apply

the chance of you making
emotional mistakes so how do

strategy into a computer
algorithm then you need to give

an event will occur in the
market, you will then consult

where you have absolutely zero
doubt or hesitation before

diagram this is where the
masses play the masses of

decides which trades to take
based on their own judgement

unwavering certainty when you
approach the markets every day

just rules based trading so
instead of the trader deciding

and you never quite seem to get
it right consistently and then

with extremely clear rules
based and mechanical criteria

you reduce the chance of you
making you know those emotional

to your decision making process
in the market then the higher

traders are you know those top
10% the ones who are

judgement instead the trading
system decides which trades to

up there where you have
certainty in the market and you

discretionary traders, they
will make all of these

decisions based on their own
human judgement and the major

they look back on the past with
regret so think of this as a

losing traders and up at the
top is where the professional

consistently making money year
in year out so how do you get

a consistently profitable
trader well if you can replace

trading so that you can be in
that top 10% so that you can be

they're constantly trying to
predict the future but then

outcome of their decision and
yet they're indecisive because

the past and they're constantly
hesitating and doubting and

The first type of strategy is
called discretionary trading

traders or even those who are
just struggling to find

every single time with zero
doubt or hesitation. So how can

feel deep down it then never
quite goes away or do you want

yourself from the losing masses
and become a consistently

never feel doubt hesitation or
regret how do you separate

outcome of the because down
here at the bottom of the

making a trading decision so
that you never feel regret in

between hesitation and regret?
How do you transcend these two

possible? How do you get to the
point you know up the top there

swinging pendulum from left to
right with amateur traders

constantly swinging back and
forth between these emotions in

consistency they are constantly
fluctuating between those two

trade it was obvious it was
going to keep going why didn't

the benefit of hindsight that
you then realize when you look

hindsight vision is 2020 it's
always crystal clear after the

should have sold right there of
course I should have held a

I just leave it alone I'm an
idiot you know as they say

enjoyable at all and it was
starting to make me fall out of

trading so unnecessarily
stressful. It just was not

continues going in your
direction well you don't

close it down and take what
profit is currently on the

know have you ever struggled
deciding how to manage a trade

table just in case it reverses
against you but then what if it

to hesitate, you know,
wondering, should I enter the

Maybe I should wait a little
bit longer for just a bit more

trade and get involved? Is it
ready yet or am I too early?

you're trading and you're
looking at the market, have you

represents the emotion of
indecisiveness. Now, when

two opposing emotions. To
explain this, we're going to

look at two traders. The first
trader is retail Robbie and he

Amateur retail traders severely
oscillate and struggle between

plan is provided.

ever felt just a little bit of
creeping doubt and then started