All language subtitles for Introduction To The Pro Course-1

Hello ladies and gentlemen, finally

we're there.

We're at the pro course.

I know it's been a long time coming in

the sense that you've probably been

working hard through the foundation

course, but I can assure you it will be

well worth it if you've done it at the

right pace.

And actually, I genuinely meant it when

I said the longer you take the better,

the more you put yourself, you know, I

don't want to lecture anyone.

I'm really just trying to help when I

say this, but any endeavor that you've

ever tried to achieve hasn't come

without hard work and a little bit of pain.

So I know working through some of those

exercises in the foundation course were

probably very painful.

Have sympathy for me.

I traded on the depth of market, albeit

profitably for a significant period of time.

So I used to watch those numbers go up

and down all day.

And whilst I don't advocate you doing

it full time, especially now that

technology is there.

And as I said, machines are really at

the forefront of trading the supply columns.

Us as human beings have a huge

advantage in discretionary elements of trading.

So the sort of things that I'm going to

show you, which inherently come from

the depth of market, but present

themselves on a chart and so on and so forth.

So things like the profile, et cetera,

but I just want to say, So I am going

to move on very quickly to the next

slide, but if you've not done the

exercises, you will suffer in this section.

You know, I don't want to beat around

the bush.

I'd highly recommend by all means,

watch this introduction.

If you're curious to see what's in the

pro course, watch this little

introduction video, but at the end of

it, go back and do all the exercises,

go through the foundation course a

second time, a third time, if you want,

it's really going to help you as you

see, as you progress through this pro course.

Um, if you haven't done the exercises,

you're going to start treating

everything I show you as just a tool or

an indicator.

And that's really going to be to a detriment.

If you don't really understand, um, you

know, what's going on with the tools

because I'm not going to obviously keep

referring back to the depth of market.

I'm going to go on the assumption going

forward that you've done everything at

a good pace.

You've spent at least three months or

so doing all the exercises.

But again, have a look at what I'm

about to show you even if you haven't

and then go back.

If you've done all the exercises, look fantastic.

Well done.

You're already much further ahead than

most traders.

You're literally, you know, you're

getting there towards what the elite

traders have done at the early part of

their career.

So congratulations, but I don't want to

burst your bubble, but the hard work

really does start now as I'm about to

show you.

So let's go to the next slide.

Now I know I cover a little bit of this

with my head.

I think I can't actually see myself,

but I believe I do cover a little bit

of this corner, but don't worry about it.

It's just the same slide that we had in

the foundation course.

My point is just this, that so up until

now we've essentially covered this

part, right?

I'm I'm just going to, instead of

spelling out foundation, I'm just, just

for ease, I'm going to put FND.

So we've done foundation and obviously

here, what I haven't included is we did

quite a bit of, you know, business planning.

We looked at some of the players in

some detail in terms of different types

of institutions.

So you know why you're following this

path and why this is the correct path

for you.

But what we're now going to do is we're

going to get into a meat of it.

So that's this bit, which is the pro.

And what I'll tell you from firsthand

experience, you know, I went through it

myself is that when you're in a

professional trading firm, and I mean

even the best, the best of the best

professional trading firms.

And as you know, I even worked in a

investment bank, which is even

considered a higher in terms of

institutional levels of trading,

because obviously they do market making

as well and provide markets.

and so on and so forth.

But prop trading is obviously pure risk

taking, which is better for us.

But my point is this anyway, the tools

they teach you are exactly what I'm

going to teach you.

So you're going to be shown in this

section exactly the same things that

you would be shown in, you know, the

world's best institutions, wherever

those are investment banks, proprietary

trading firms, they're all using these

tools, volume tools, VWAP and so on and

so forth.

and I'll explain why as we go on.

But my point is this, why I noticed

this even when I was taught is it was a

little bit in the sense that they'd

give you all the teachings and

obviously take you through each section

depth of market.

Um, as you know, I traded on myself

quite profitably for a long period of time.

Um, so they show you depth of market.

Then you move on to, um, things like

footprint, cumulative Delta volume

profile VWAP and so on and so forth.

But I found there wasn't much in terms

of actually structuring it as to what's

the right tool to use first, what

approach to use first, so on and so forth.

So that's what I'm going to do.

And I think that's where my experience

and you know, what I've actually

evolved as into a trader is really

going to come to the all now in the pro

course, because as you're about to see

on the next slide, and the following

slide after I've structured everything

in the way that I think is optimal for

any trader to succeed.

So the reason I've said all of this is

because I don't want you to think, Oh,

envy's distorted what I would be

learning in a professional institution.

No, actually what I've done is I'm

giving you everything you would learn

in a professional institution and more.

I'm layering it.

I'm in terms of how I structure the teaching.

So the underlying, um, items that

you're going to be learning exactly the

same VWAP volume profile.

In fact, I'm even going to go into

market profile, which institutions

still use to this day.

And we'll get into that, um, Delta

footprint, um, obviously the depth of

market, which I've covered already, but

it's what it is, is I've changed the

way that we're going to approach it.

So you'll still get exactly the same.

It's just the way I've structured it.

Um, typical example is depth of market.

So, you know, um, it's important I say

this and just give me two minutes and

we will move on.

A lot of you will have struggled with

the depth of market.

And I get that watching numbers go up

and down can be tedious.

It's painful.

And, um, you know, have sympathy for me.

I did it for a very long time, albeit

obviously very profitably, but you

know, earlier part of my career, after

I moved away from investment banking

and I went into outright risk taking, I

did a long time watching and staring

the depth of market and making money

from that.

But what I recognized and what I've

noticed that a lot of professional

firms haven't adjusted for is that

technology has moved on now and

machines and it's widely available.

80 to 85 % of the order flow is now machines.

So they have a huge competitive

advantage on the supply side.

You've seen on the depth of market how

quickly it's moving in terms of the

supply changing, fake bids, fake

offers, and so on and so forth.

As human beings, we just don't have the

edge that we used to have 10 years ago.

And that's shown.

Um, I don't know many traders anymore

that are profit.

In fact, I don't know any traders that

are profitable on the depth of market

trading manually.

I know quite a few and I actually have

a few friends that make significant

sums of money trading on the depth of

market using an algorithm.

So they've programmed an algorithm.

They're very good at programming.

And obviously they've programmed an

algorithm to read the volume profile

and volume at each level and do things accordingly.

But it's done by a machine.

That program, that algorithm can read

in milliseconds, the changes that you

see in bids and offers on the depth of market.

We can't do that.

We just don't have the hand eye

coordination to keep up with the machine.

It's obvious that's the same in every

point in life.

So what I found is rather than accept

that, I look now still, and I did my

research before I put this program together.

And obviously I spoke to a few contacts

that I had to see since I did my

proprietary training, trader training

many years ago to now has much changed.

And I've really noticed through

speaking to people in industry, they

haven't changed it.

They still want you to sit on the depth

of market for, you know, 12 months

become profitable.

I did say this before.

They expect you to get profitable on a

depth of market.

That can take a year.

As you saw, it's, it's a, it's a

difficult endeavor to master.

And I just don't think that that is

healthy for you, to be staring at

numbers all day.

It's not going to be good for you, your

soul, your wellbeing.

But much more importantly, I just don't

think it's the most efficient way to

become profitable because you're

competing against the machines.

Much more profitable way going forward

is using discretion.

Use the advantage we have as human

beings, which is to be able to make

decisions based on dynamic information

that's coming through in the moment

that may be different to, think about

it, If you're a machine, you've been

programmed by a human being.

And I know I said this would take two

minutes, but I realize now this is so important.

And I hope you agree with me.

You're not going to get this

information anywhere else, really.

You will never read about this in a book.

You're hearing this from someone who's

obviously done this for a living for a

long time and seen this firsthand.

So again, coming back to my point,

think about it.

If you're a machine, you can only do

what you've been programmed to do.

So that could be reading bids and

offers, so on and so forth.

But as you'll notice, I'm going to

gravitate us towards the charts and

looking at a bird's eye view of things

where you can actually start to think analytically.

You know, machines can't do that.

They can only do things according to

set parameters as they've been

programmed to do.

Us as human beings, the human brain, as

you know, it's the most powerful

organism, not only in the world, in the

universe, which means we're able to

disseminate information and change

direction very quickly.

That's discretion.

So, and that is where I've been able

to, and I know people who've now been

able to adapt, because you'll hear a

lot of people complain and say, oh,

algorithms have taken over the market.

No, that's not the case.

Yeah, they have, but you need to adapt.

Let's use them to our advantage.

Let them, um, be experts in their

space, which is depth of market, supply

side, microscopic, taking ticks here

and there.

Let us do what we're good at, which is

having a bird's eye view using our, the

bit between our ears, our brain to

analyze things.

The best way to do that as well on a

chart, but using value information,

using volume information, not

indicators, but using all the things

that I'm going to teach you and already

started teaching you.

But essentially all the volume profile

is, if you think about it is what you

see on the depth of market, which I

showed you, but there's volume profiles

and value, which can be a much wider range.

So not just for the day, which you see

on the depth of market.

it can also be for a longer time period.

And this is what we're really going to

get into now in the pro course.

And why I say the hard work is only

just starting because what you will see

is different players have different

visions of what value is.

And I will get into this in the auction

market theory section.

But it's really important you

understand all of this before I even

change the slide because what you

should understand is the transition

we're making, why the foundation was

necessary, because obviously we had to

understand the tools, um, that I'm

about to show you.

And those are really built at the very

foundation at the microscopic level.

But what you also need to understand is

you don't have an edge there.

You have to accept that machines have

taken over now.

Um, you know, the technology, think

about it, your PC, how much faster is

it now than 10, 20 years ago, internet

speeds, you know, data transfer speeds,

the edge now is gone when it comes to

very short-term trading on a depth of market.

So we really need to take a bird's eye

view and look at it, things overall.

And that's where we have an advantage.

So I hope that made sense.

I'm going to bring what I've just said

now into a visual.

And that's what I mean is that this is

something I've developed myself.

So let's go on to the next slide.

I'm going to bring all of that into a

visual for you.

Okay.

So what we have here is we've got the

exact same items that you would learn

in a professional trading firm, a

private trading firm.

At the end of the day, ladies and

gentlemen, you've got Google, you can

Google it yourself, you know, and you

will see, you're getting everything.

You will not be missing a single item.

you're going to learn everything that

you do in a proprietary trading firm,

except and I'm going to show you now

how I've structured it in a very clever

way based on my experience.

So you won't find this anywhere else.

And that's why I think this program is

actually much more powerful than you

even going into what some of the

world's top institutions.

But rather than me just saying that,

let me show you what I mean by that.

So it makes sense.

Let me show you first what exactly you

would learn if you walked into a

proprietary trading firm.

So you've already covered depth of market.

And as you know, actually they're going

to keep you on that much longer than

what I did.

You're more than welcome to try and

become profitable on depth of market.

But like I said, I think that some of

these professional firms really need to

accept that times have changed.

As I said, I'm surprised they're taking

so long about it, but it is what it is, right?

Sometimes people get stuck in their ways.

Industries get stuck in their ways.

As we've seen in the retail high

street, you know, online has taken over.

Technology is taking over.

See is another great example where you

have to adapt to technology.

So let's not get stuck on doing what

they're doing and let's move into

really, I was tempted to say 21st

century, but obviously it's a little

bit further than that.

I would say what the new decade 2020

onwards, right?

So if you walked into a firm, you would

be doing essentially the depth of

market, as I said, for a longer period,

you would at some stage move on to

ultra market theory.

This is just a little nuance, which I

won't worry about now, but we will come

back to acceptance and rhythm.

It's something I'm going to show you

about the market, which you don't

necessarily get taught, but I think

it's an important structural element

that you're going to get as a bonus.

You would get taught about market

profile, which is very, very important

in professional trading circles, volume

profile, which is exactly the same

thing, but using volume instead of time.

But we'll cover all of that.

So don't worry about it.

You'll get taught about the VWAP.

They do a little bit of fundamentals.

I don't really use them much myself.

I love fundamentals.

you know, I, I, I find it, um, very

interesting to read about economics, et

cetera, but more for enjoyment, to find

out how's my country doing, um, that I

live in, um, all countries around the

world, how are they doing?

That kind of thing, I think is very

interesting, but in terms of actually

trading, I don't necessarily use it

much, but I may touch upon it.

Um, and then what else is there?

So there's the footprint, obviously

this is just repeated itself and I'll

explain why.

Footprint depth of market and then

cumulative delta.

And then you might do some psychology work.

You definitely do journaling.

They're massive on journaling.

Psychology, there's a little bit of it,

but you'd be surprised how little

psychology is relative to actually

learning because in fact, Let's come

back to psychology on the psychology slide.

Cause I have a slide where I just going

to talk about psychology for a few

minutes, but so there's all the things

you would be learning in a proprietary

trading firm.

All I've done is I've structured it differently.

So what I've recognized is the way that

we want to develop edge is I really

want to build you up from a bird's eye

perspective and use all the skills you

have as a human being to your advantage.

So what do I mean by that?

So look what I've written here.

Developing edge starts with being able

to develop a hypothesis for the trading

day context.

So what you will notice, if you know

any prop trader as they're called, who

works in a private trading firm, Any

institutional trader has a hypothesis

for the day.

What they will do, I do it myself.

Um, and you are taught this, create a

hypothesis for the day.

So you will see me sometimes in some of

my discord chats or, um, et cetera,

putting some areas of interest.

How do we determine?

Where do we want to trade for the day?

What's our map?

Um, context is the map.

You know, if you're going to go for, I

don't know if you've done hiking

before, I love to go hiking and you

have a map.

If you don't have a map, you're going

to be so lost.

I don't know if you've gone hiking in

the woods before with no map, no chance

you're going to be completely lost.

So that's what the context is.

It's the roadmap.

It's looking at the market and deciding

for the day, almost knowing several

hours in advance, where you're going to

be going in terms of direction or

targets, those sorts of things,

absolutely crucial.

But what I'd never seen done before

really is organizing it in a structure

where all you're doing is learning context.

That's what we're going to do.

So basically what I've done, you know,

as part of the G7FX Pro course is I've

split everything into stages.

So stage one is going to be looking

purely at context.

And believe me, he's such a huge element.

Without context, nothing, you know, you

can use footprints.

You can watch stuff on the depth of

market and you're going to see the

stuff I've showed you before, like

absorption and so on and so forth.

It's going to happen everywhere.

There's no edge there.

You know, you're going to see

absorbing, you're going to see buyers

coming in, you're going to see sellers

and buyers getting trapped.

You're going to see all that stuff, but

you're going to see it everywhere on

the chart.

it's going to drive you completely

bananas trying to figure out which

sellers or buyers getting trapped is

the one that you should actually take

account of or use to trade off.

Now that is obviously where you get the

bird's eye view, develop a hypothesis

for the day.

Absolutely crucial.

I would say it's by far the most

important thing that you can develop as

a trader.

So that's why I've created a section

and I've decided that the best way to

teach you guys is to teach you in the

way that I approach my day.

So that's what I'm doing.

Context, always looking at context.

I'll spend time on that.

And what that means is, so this is why

I hope you can see I ticked off all the

things that you would learn in a

proprietary trading firm because all

I've done is I've taken the individual

elements and I've put them into sections.

So you're gonna learn all the stuff,

auction market theory, market profile,

volume profile, VWAP, fundamentals, but

I've bunched them up into section one.

So we're going to talk about all these

things in terms of developing context.

Okay.

Stage two.

So this is obviously overall context,

roadmap of the whole market.

Once we've got that and we know, okay,

today this is what we want do.

Um, we want to dig deeper.

We want to zoom in really to looking at

essentially it's looking at value.

You know, I talked about value before,

um, and value is nothing magical,

mythical value exists, as you know,

everywhere, Amazon, eBay, every item in

the world is an asset.

It's the same as the pound.

It has value.

So all this is, this is just looking

at, um, overall value.

So different players and how different

players with different time horizons of

viewing value and how we can make that

into a hypothesis for the day.

Apologies, my writing is terrible there.

Um, this is looking at intraday value.

How can we use intraday value to take

positions into overall value?

Okay.

So it's zooming down.

So that's stage two.

So now I'm going to show you a volume

profile VWAP again, but as part of an

intraday framework, which I'm going to

give you and that's where you're going

to start to develop edge.

So I hope you can see how you're going

to start to be able to develop trading

ideas because I know it's been a long

time coming and you must be thinking,

you know, envy's been making us do all

these exercises, but this is why I

wanted to put this section together.

So you could see, look, there is an end goal.

I'm giving you like a framework.

It's not going to be a specific A plus

B, must equal C.

Guys, you might as well use technical indicators.

If you've got that mindset, it doesn't

exist, but I'm going to give you tools

where you can start to develop an

amazing analytical understanding and

start using your discretion to develop

trading ideas and actually start

getting into the market and testing

those trading ideas using a framework.

And that's very much the intraday value

framework, which I'm going to show you

in stage two of the pro course.

And then we're going to go into stage three.

And this is where we've done the depth

of market already.

We'll be looking at footprint

cumulative delta.

So this is a really interesting point.

And this is another reason I really

wanted to put a long section here.

And I know I've been talking to you for

a long time.

and I apologize and we're nearly done,

but look, it's absolutely crucial that

I put this in here because you'll

notice I started here and I've put

module six footprint.

What I would like you to do is not do

the footprint until much later on.

The reason I put it is because look, I

accept on my social media, I'm showing

footprint and you know, I don't want

people to think I've misled them and

they're desperate to learn about footprint.

So fine, go and do the footprint if you

really want to.

but it's not going to help you trade.

Can you see 5 %?

Guys, it is all about context.

Context is king.

Without context, you've got no trades.

You will see how I trade all the time

on my Discord and with my examples that

I give, I've got levels.

I know if I've got level 100 pips away,

I don't want to sit there watching the

footprint and the depth of market going

up and down.

Why?

I've got better things to do.

Meaning I'm not going to learn anything.

I'm not going to, you know, it's not

going to achieve anything.

It's just static on a TV.

It might as well be me staring at static.

It's pointless.

All the footprint and depth of market

is going to help me do is fine tune positions.

Depth of market I don't really use anymore.

Footprint I use more in the futures

markets like stocks and oil.

Um, and as I've mentioned in the

footprint section, I don't really use

it for currency so much, uh, I will

obviously help you develop some edge in

currencies without footprint later on.

Um, what I do use a lot is cumulative

Delta to fine tune.

That's all these things are.

Then you might be wondering, well, why

did we do the depth of market?

Well, at the end of the day, guys, all

we did is we built out all this stuff.

We're looking at our bird's eye view,

but at a granular level, We built back

up and now we're going to build back down.

And that was absolutely crucial.

Why?

Because the building blocks of all of

this, this section here come from depth

of market.

What you realize, and I don't want to

get into this here, is that all volume

profile is on a chart on a big

long-term horizon.

It's the depth of market on a chart.

you might not understand this right now.

And maybe you do because you've

understood what market orders are, but

market orders being spit out all the

time, a volume profiles developing.

The only difference is when you're

developing a hypothesis, you're looking

at, um, volume profiles, which have

developed over huge periods of time,

still to come from the depth of market.

That's why we needed to do depth of

market, but that's it.

Job's done.

Now let's actually try and make some,

um, you know, trading decisions, try

and develop some, um, well, hypothesis,

as I said, edge.

And we can only do that by now zooming

out, um, and creating the roadmap from

which we want to find you in entries.

So really it's a very small part of the process.

These things are much more important.

We need a map first before we actually

do the zooming in and figure out

exactly, you know, in terms of exact

entry points, things like that.

Um, you know, if you think about it, a

good example is, um, if you've got a

chart, terrible drawing of the chart

going up and down, up and down, you

know, there's going to be depth of

market fine tuning that you can do there.

You can do it there.

You can do it there.

You can do it there.

You can do it there.

You can do it there.

But what if the best opportunities

aren't until this section?

Do you see what I mean?

Then you're going to be fine tuning what?

It's all over the place.

What you need to do is get yourself

into a little section, you know, of

about 10, 20 pips in FX terms or ticks

in futures terms, your areas where you

want to be trading and then fine tune

that down into, okay, this is where

I'll enter so on and so forth.

That's what, That's why it's only 5%.

I hope you can see that.

And that's why if you can avoid doing

the footprint section, I know it's

next, I've put it as module six, but

I've done that because I know people

get a bit starry eyed by all the social

media footprint stuff and want to

desperately learn it.

But you know, if you can avoid it,

avoid it, but have a look if you want.

But otherwise I just want you to know

it's really not that big.

Then journaling psychology, I'm going

to add as a supplementary section.

I don't know.

Obviously at this stage, I haven't

built all this out.

When you come to watch this, I may have

actually built all of it out.

Um, I don't necessarily, um, agree with

how, um, some professional firms

introduce journaling.

And I'm going to talk about that in the

next slide, sorry, the slide after the,

after next.

So rather than, uh, talking about it

now, let's just jump to the next slide.

Okay.

So this is basically my own framework

using every single tool you would get

in a private trading firm, I've

organised it.

You know, and end of the day, I'm not

trying to sell you anything because

you've already bought the course.

So the reason I'm telling you this is

because it's true.

You will categorically, you won't find

this anywhere else in any professional

trading firm.

They will not organise it for you in

the way that I have.

My suggestion is print this out and

have this in front of you at all times.

What I'll do is because I know my head

is covering this and I've done you're

looking at a picture of me all day, you

know, it's, um, it's not pleasing for

anyone to start their day with that.

So what I'll do is I'll put a PDF or,

um, whatever picture of this in the

downloads download section.

And I want you to have this every

morning you start your day, because

what it is, is I want you to approach

the market in a calm and collected manner.

Take a bird's eye view.

I don't want you to see all the action

and get frenetic as you may have been

doing as a retail trader.

I'm not saying all of you have, I don't

want to paint everyone with the same brush.

I'm just saying that if that's how you

approach the market, it's going to help

you take a step back.

So context we spoke about, right?

It's 70 % of it, developing a hypothesis

for the day.

That's why I want you to recognise this

number is 70 % of your job.

If you can't develop a hypothesis, all

of this is, you might as well go home.

It's meaningless.

You need to know what you're doing that

day before you even start thinking

about entering and all of that is secondary.

It's tertiary even.

So you've got to remember context, this

pyramid, I've developed this pyramid.

I want you to print this out.

As I said, we're going to do that in

stage one.

Then the intraday is quite a big

element of it.

But after you've got your hypothesis

for the day, we're going to start, I'm

going to start showing you a framework

where you can start pinpointing.

You know, if you've got an idea that,

okay, this is where I generally think

value is likely to shift today.

How'd you get in?

You know, how'd you actually develop a

bit more of a more zoomed in framework

because you're doing intraday and so on

and so forth.

So that's going to be stage two.

And then, so this is, you know,

obviously if you're day trading or

holding for even a couple of days, this

is a very good framework for a couple

of days.

If you're a longer term trader, you can

almost use a lot of the things I'm

going to show you here.

Cause I know I'll get questions about

longer term trading and don't worry.

As we developed context, you'll see

that actually you don't need this, and

you probably won't even need this.

If you're a longer term trader, you

won't use this as much.

You know, if you want to hold stuff for

a week or longer, you'd be using much

more of the broader context, but even

for day trading context on a broader

framework is absolutely crucial.

All this does is it zooms things in for us.

And then order flow is a very small

part of it.

Really.

I know guys who are amazing at

developing hypothesis for the day,

amazing at understanding intraday

context and don't even look at order

flow and do incredibly well.

I don't know anyone who just watches

order flow and does well.

Like I said, it's maybe 10 years ago.

Okay.

There were guys on the depth of market

when machines weren't around, but it

just doesn't exist.

And in fact, go and Google it for yourself.

The only ones that I know of are in

jail now because they spoof the market.

So, um, you know, at the end of the

day, I think proofs in the pudding, you

just don't get much.

I'm sure there's, you know, a handful

out there, but yeah, it's very rare to

see people making money on the depth of

market or using footprint on its own,

unless you have the, the obvious caveat

to that is unless they're using some

sort of algorithm that they've

programmed themselves or it's assisting

them in some way, But obviously that's

not the purpose of this pro course or

the G7 FX course.

This is to turn you as an individual

into a professional trader.

And you know, you're not going to be

using algorithms and machines or

programs to do that.

So definitely no edge there.

So it's really 5%.

That's why I want you to have this.

So it's a reminder to you every day.

As soon as you start getting too

obsessed with order flow and

microscopic things, well, take your

stuff back, look back because it's very

dangerous to do that unless you've

developed strong context, um, both on a

broad term basis.

And then obviously on intraday basis

for which I'm going to show you

framework for, and then you've got to

add psychology in, it's about 5 % of it.

You might be saying, oh, I've heard

psychology is 50 % guys, utter rubbish.

It's all retail myths, rubbish.

And I'm going to tell you why, but just

take my word for it for the moment and

I'll come back to it.

I'll add something about this.

In, ideally, my opinion, you want to

not start journaling until you've

really, um, understood the framework.

So understand the framework.

Then once you start developing

hypotheses, et cetera, then start journaling.

In my opinion, um, that's when

journaling really comes to the forefront.

I'm a massive fan of journaling.

Um, I did it religiously for several years.

I don't do it so much now, that I did

my time.

Um, but I'm a massive advocate of journaling.

I think it's absolutely crucial part of

the process.

Psychology, um, not so much.

Um, because what you, what it is is

when you develop edge and you become,

um, competent and you know how the

market works, structure, believe me,

psychology, it sort of takes care of itself.

The reason in retail circles, they talk

so much about psychology.

think about it is because it's very

clever marketing technique to blame you

for things going wrong.

Think about it.

Someone showing you these squiggly

lines or whatever nonsense that you get

taught, right?

Um, which as I've already shown you, it

makes no sense, right?

It's like, I don't want to repeat the point.

It sounds like a broken record, but at

the end of the day, when does Tesco,

Asda, Sainsbury's, Walmart, Costco,

Amazon, Microsoft, any company in the

world, if you ask them how they

determine fair value, you know, if you

say, Oh, why don't you try using the

Mac, the RSI?

They're going to laugh at you.

RSI trendline, whatever.

Guys, you know, it's not used, right?

It makes no sense.

So my point is this, when obviously

you're being taught in retail circles,

those guys know that what they're

showing you has no edge.

That's why they don't show you audited results.

They don't have, there's no edge.

It's very breakeven, right?

Or as you know, you, you win some, you

lose some.

So what they need to do is they need to

develop something that shifts the blame

onto you, right?

And you know this because when you're

taking a trade, how many times have you

been told by an educator or someone

else, Oh, it was just psychology.

It was you.

You didn't hold the position long enough.

You didn't do this.

You didn't do that week.

Your mind, go and do meditation, go and

do this, go and do that.

Guys, can you see?

It's, it's just a marketing trick.

It's a, it's a mind trick to make you

think you're wrong.

No, it's nonsense.

It's because there's no edge, right?

Once you've got edge, psychology will

take care of the rest.

Not to say I'm against doing things

that help you develop a better mindset.

Look, you may not know this and don't

worry, the video is about to end soon,

but you may not know this, but I spent

a long period of time in a monastery,

living life as a monk.

I've done all of it.

I've done Vipassana.

I've meditated 14 hours a day.

I've done all those things.

So I'm not against them.

You know, I've done them more to more

extremes than anyone you know out there.

So I'm definitely not against that.

And it had huge benefits for me by in trading.

You know, at the end of the day, you

either have an edge or you Yeah, it

helps to some extent.

Don't get me wrong.

I'm not saying it's not important, but

it's important once you develop an edge.

That's why I say it's 5%.

Develop a true edge and then you will

know whether you can implement it or not.

And if you're struggling to implement

it, once you've proved to yourself that

you have an edge, um, then by all means

introduce some psychology, but don't,

don't introduce it too early on in your

development stage.

it's just going to mess with your head

and make you think that, um, you're not

doing well because of your mindset when

actually you're not doing well,

because, um, you potentially, in my

opinion, you don't understand the

structure of the market.

You know, you need to start looking,

um, at what you're actually using to

trade and develop edge the techniques

rather than blaming your mindset.

Cause otherwise you will get into this

dangerous cycle of trying so many

things, but every time they don't work,

you blame your own mindset.

And you know, you can see, you're not

going to get anywhere.

You're just going to go around in a circle.

So, you know, what I would suggest is

about high time, put the psychology to

the side and actually start recognising

actually, maybe I don't know, I don't

know how the market works.

Let me understand that first.

When you get there, I understand the market.

Okay.

I'm not able to execute sometimes.

Just let me then work on Edge.

OK, final slide.

And I do apologize, a bit of scratching

at the door is my dog.

I've left her out, as you know, the snoring.

So but she does get a little bit upset again.

Apologize for that.

OK, so final slide, which I'm not

really going to talk through.

I've literally just taken the items and

put them on here for you.

So again, I'll put a print out of this.

I recommend that you print this out.

If you want, don't necessarily need all

this stuff, but just thought it'd be

good for reference.

So you can see this is going to be

stage one, which I'm taking through you

through in the pro course, which is the

contextual element.

We're going to show you how to develop

a hypothesis, the way that I do it.

Then we're going to give you a

framework to actually trade the hypothesis.

And then you can even fine tune that

slightly further.

All right, so that is something that

I've developed.

So you won't see this anywhere else

being laid out like this.

It's giving you a very clear path to

how you are going to be able to execute

from building a hypothesis to executing

the edge.

So it's the full basically path laid

out for you in terms of how to go about

it in order, but also importance, 70%,

20 % and then 5 % is 95%.

And then obviously you've got the other

5 % which you have here, which I'm going

to put in somewhere.

I haven't decided exactly where, but

I'll do that.

So I hope that was helpful.

Really want to wish you the best, you

know, for the, for the rest of the course.

And, you know, I'm sure we'll obviously

talk again either outside of the course

or I'll do some more detailing about

how approaches and how to go about

things even though I'm going to be

doing more specific learning elements,

I will have some advice for you

throughout the course.

So yeah, looking forward to get started.

See you at stage one guys.

Have a great day.