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Things To Note:
          1. We were looking for shorts on the DOWN move to the next strong level.
          2. We were looking for longs on the UP move.
          3. I recommended to NOT short above the 50. Consult your own chart to see if that was good advice.           4. Feel free to SPEED up the video 2X or so.
Live Every Tuesday
Transcript

Price Action Bounce Trading System. How To Scalp ES Emini or MES Micros Futures.

25 minutes to the opening
right thank you guys on YouTube I was getting my laptop I was like I need to go make sure my sound is on it was on
mute through my streaming software
so only thing I was remarking is make sure that oh make sure my pre-f flight’s
complete get those markings on there the London the Asia and the rth High um
strong levels they stay they tend to be sticky and um there’s nothing else to
add here other than we wait um one additional thing I said is
usually it’s only the morning before uh fomc that is worth trading I will
certainly stop at my quitting time and come back and look at the chart in the afternoon just just to see yesterday was just not
the greatest here I missed my long here which I was really disappointed about I
was I was I was one or two ticks too greedy I forget exactly um one or two
ticks too greedy did exactly what we were looking for then I just felt like okay you missed out then there was no
real level development here on a three minute there was Zero trades on our end of the day chart here um in the
afternoon just gave such better movement such better movement you know
and it was great is Chris in here no Chris isn’t in here yet um when he went long I took the counter short at the
level that he should have gotten out of and I think he did so that was kind of cool I was long he was short um you can make money both
ways um let me I want to
grab cuz we didn’t do this yesterday so I like to do it at the beginning of the week and I just didn’t do
it I think it’s under this app
um that was my notes for there I think we’ll just put this here as well there are no sellers
you don’t need to be the first and we’ll go over this as well I like to go over
this at the beginning of the week we didn’t do it yesterday but I’ll
wait till more people are on and then we’ll go over these
items and we’re also going to go over the entry
[Music] reminders so the general advice there are no real sellers
here you don’t need to be the first of course if you have a clean clear crisp
level and you like your Tri location go for
it for example when it bounced off this 50 you were presented with a front side
short but you shouldn’t take it why because it’s bouncing off the 50 here um off of our strong level and you want to
be able to give that room so just because you might be given an opportunity just because you have a line on your chart that might bounce doesn’t
mean you should necessarily take it and trust me I have been in where I’ve taken them all cuz it’s so amazing to watch
price bounce off all the levels that you want to take them all but one of the things I encourage you to do is try to
be a little um pickier and um certainly try to trade with the dominant Trend at the
time and you don’t need to be in every trade and you know looking at the chart
like a chess board takes time and that’s one of the purposes of
these ranges I draw for you and these strong levels and the am briefing I’m trying to keep you on which side of this
cuz sometimes I’ll say careful with Longs below or careful with shorts above
um honestly I would put those things on your chart put a light line put a white
line add a mark maybe put it in a special folder and um put those notes cuz just
hearing it you won’t remember it um that my opinion put the line on your chart and
add a note to it that you thought that you would want to know as you go into
it well Peter if you’ll notice my here Peter made here let me I just want to
test this little feature there we go Peter’s comment there um why do people avoid trading the weak of fomc a good
opportunity is a good opportunity as long as you stick your rules and strategy uh we don’t I don’t tell people
to avoid it um I want them to dial down their
leverage all the way to the option of not trading um our levels work the best in
rational price action rational price action our levels
perform the absolute best and
so I love the additional volatility I do but I do recommend you dial it
down so knowing when to dial it down is important knowing when not to trade is important a day trader does not have to
trade every day and it is certainly a skill that
Traders have to develop over time and they will naturally develop it of when
should I be trading when should I not be trading really is the number one
where are we at and should I be trading those are two just the most
major things a Trader has to ask themselves we’re here every day I want to trade every day doesn’t mean I’ll get
a trade and it certainly doesn’t mean it’s worthy of a full
leverage that’s my humble opinion your mileage may
vary you know the hardest thing for a Trader to do and I can tell the ones who are going to get themselves in trouble
because they can never peel themselves away from the chart the casino is open
and their butt is at the seat pulling the slot machine lover they can never
walk away and if you can’t walk away the market owns
you it’s a hot girlfriend and there’s times you’ve got to tell the hot girlfriend no not today
I’m taking you know whatever you know what I mean you’ve got to be able to say no to the
chart and too many times I see Traders not be able to say no to the Chart
whether it’s a level 10 trading day and they traded all day
long okay um or they’re up really big in the
morning I suggest they close their chart and walk away and they’re like yep I’m going to do that that may
sense and then 30 minutes later I had to take this
one and then every now and then you’ll get the I should have
stopped hey Casey oh you’re not in on here sorry Casey sent me a comment let
me reply
all right one of the members he’s not live but sent me a message so yep knowing when not to trade
should I be trading that’s a message that goes off in our group um every so often
all
right that would have been a perfect long too if you wanted to take
it I just can’t believe I missed it over here right there
man oh
well for
one of the things people do like about what we do is we are very
patient learning to say no to the chart is part of the
patience and if you’re dropping in time frames without a good reason you’re searching for a reason to enter a trade
not that there’s not trades on the 30 second chart or the one minute chart but if you trade a lower time
frame lower your leverage lower your expectations you have less people
defending price you want to go outside I think my
dog wants to go outside
my dog is so funny actually she wanted fresh water she is like a jeweler looking at a diamond when it comes to
her water bowl it’s got to have a certain color certain temperature a certain
Clarity um a certain volume if it doesn’t have those things
she will stare you down till you give her new water okay where’s the
uh all right we’re right at the overnight Pok which makes sense
and this is kind of the Line in the Sand level that we talked about in the AM briefing you really want to be looking
for Longs above shorts below let’s go take a peek at everybody
else it was so cool this morning because everybody looked exactly the
same we are still in the basically exactly the same the middle of yesterday’s
range everyone does have downward slanting
vws no no one’s actually tested it again which is
interesting all right so let’s get let’s go through this I like to do this every Monday I forgot to do it yesterday there
are plenty of trading opportunities there’s about 250 trading days a year you do not need to trade today you do
not need to trade the trifecta events NFP non-farm
payroll fomc you don’t need to trade those
days you don’t need every move and you nor do you need
all the move we try to get all the move but you don’t need every move it’s
okay if you miss a trade it’s okay it’s okay I missed this entry Yesterday by two ticks it’s okay there’s another high
probability trade right around the corner keep charting on all time frames
if you’re staring at the chart and you’re like you know what I haven’t checked a 30 minute chart in Forever
you’re zoning out on the chart it’s a good sign to get away from the chart give yourself a brain break and uh come
back with a fresh set of eyes and start top down on your time frames and it’s
true best title of the book ever best loser wins it’s certainly a Cornerstone of our philosophies we do not add to
losers we only add to Winners if you do add to a loser add one time at the edge
or just on the other side of the edge of the final bounce level okay um so if
you’re going to add do it at the extreme on on a loser one time but we
are always looking for opportunities to add to Winners because when you’re in that move and you can add to your
winning trade that’s smart a lot of people Traders when they’re in the profit they’re looking when do I get out
when do I get out when do I get out and we’re asking two questions first question where can I add to my winning
trade and the second question is where is a protection layer being built that I can keep my stop behind so that bounce
level can protect my stop so when you’re in a
trade two questions where can I add and um can I build protection layers
now if you’re in multiple contracts there is a third question that you need to ask yourself is where can price
bounce back in my direction man I wish um Chris was in here because I was going to
talk about his long yesterday with my short because that is a perfect example
so let me show you I’ll just draw it out so bounce level here and a bounce level
here okay price came down to here one of my members went long on that beautiful
his trade was better than mine um and I and when price gets back up to here well
price is going to bounce it back down his optimal exit
his optimal exit is right here that’s where I went
short so if you’re in multiple contracts you want to know where will price bounce back in my face because where’s the
optimal place to take off contracts right there you still want to keep one back you still want to use our three
contract system because you might be in a move and it’s worthy of having that
Lotto Runner so if you’re in multiple contracts that’s the next question you want to know is where can price balance
back in my face and that’s the optimal place to take contracts
off um our system does give 2 to 12 setups a day um lately it’s been on the
lower end of this um which is hey it is what it is I I don’t control
it but we do get two to 12 setups a day and so just wait for the next setup
that’s all there’s another high probability trade right around the corner trade the levels not bias oh it’s
got It’s going up today it’s going down today ignore all of that you’re on Twitter and people are predicting price ignore all of that I don’t want to see
it at all I don’t even want to think about it ignore all bias trade the levels uh
yesterday one of the Traders on in his trade Journal mentioned um I should have went with my
instinct on blah blah blah blah and I was like no no no no we don’t trade our instincts we trade the levels with
proper trade management that’s all you can do that’s the only repeatable thing you can do that’s the only repeatable thing you
can do is trade the levels in proper trade management that’s the only
repeatable system all right we want clean clear crisp Peaks and valleys preferably in Fair Value gaps if the
level is not obvious don’t trade it you want a level that you go oh my gosh I
got to take that I have to take that that’s the level we want we want two
candle clearance with these clean clear crisp marked levels I prefer two candle
clearance then it hits my line if I get two candle then three candle four candle
five candle six candle 20 candles 50 candles um to me the level kind of times
out now the truth is is that 3 minute level might become a 30-minute level and
so that’s why you want to be changing your time frames okay cuz at 3 minute level might become a 30-minute level so
keep switching your time frames we want ideally this is really important I wish
some of the newer guys were here um fully develop Peaks and valleys with backsides okay as I said I don’t really
even consider a break level a break level if there’s not a front side well you could even be pickier and say you
know what I’m going to require a fully formed peer Valley with a backside front
side break level I’m not trading anything else your your win rate will be better I can promise you that but we
want to be in trade so we tend to not necessarily require that so we’re going to let our runners run my gosh I can’t
tell you you know yesterday I had that 10-point short you know one I was
trading small one contract it’s the right move up 10 points on five accounts
that adds up man let your runners run you don’t need to be taking one point two point three point and you’re out
don’t do that let yourself learn Runner management and we have a fantastic
system to keep you in the trade and by the way if you’re for members here if
you’re ever in a trade and let’s say you’re up five six seven eight points and you want help managing that trade
and we’re live on Zoom tell me I will help you manage your Runner if we’re in
the afternoon and I’m not live on Zoom put it on the trading floor I’ll help you um with stops and so with other the
other Traders it’s because getting once you can break the cherry and you’re getting 10 20 30 40 pointers it’s
amazing how often it will happen to you but you’ve got to break
that and uh cuz the runners can pay for the whole week it can pay for the whole
week and especially if you combine that with adding to Winners I want the
runners to run and I’m looking for opportun unities to add to my
winner cut losers without remorse it either bounced or it
didn’t this goes back to not adding to losers if you’re adding to a loser what
does that mean it didn’t bounce it didn’t bounce so just get out look for
opportunities to take a half loss ah it’s the last one this is why they’re in this order I guess look for
opportunities to take a half loss I have no problem in taking a half loss I
prefer it actually and sometimes when I take a half loss it’s like okay this is what this was the right move and
sometimes it goes your favor and you could have made money sometimes goes against you but here’s the truth it didn’t bounce off the level you selected
that’s the only reason it’s a loser right now it didn’t bounce just get out there’s another high probability trade
around the corner 2 to 12 setups a day so I wanted to just just go over
that today cuz I usually do it on Mondays but I didn’t so reminders for
everybody there um almost never go below three
minute too much noise well we know when we’re pretty good at knowing when we need to drop down and um go to a 30
second chart and um it’s rare our go-to chart is certainly the three minute
chart uh the first three levels we teach in boot camp are all based off the three-minute chart anytime you see
results that I post it’s based off a three-minute chart rth and the first three bounce levels we
teach so three minute chart is a fine chart fine fine fine and and when we’re
in rational price action our levels work really really
well all right that was a lot of words
all right I need to move these to my session
levels going to throw that on put my single prints back on well I tell you
what our Sunday night I should have mentioned it this morning brief there’s only so much you can say um I’m trying
to keep it under 10 minutes but our Sunday night chart markings the levels I told you to Mark and so that is where
price is going to be attracted to go that’s exactly where we lived yesterday um it’s not a shock it’s not brain
surgery but um hopefully you marked those
levels um so I’m going to move this to
here I’m G to move this to here
kind of watch out below if we get underneath this strong level is my
thoughts just my thoughts try to look at the chart like a
chessboard we don’t prediction trade we don’t prediction trade this warning is more about Watch Out Below that if we
get underneath or Watch Out Below what that’s really saying I could be say careful with Longs below
careful with Longs below cuz if we get there we’re probably going to go explore here once again what do I know that
doesn’t mean you can’t take a long but I would advise you to dial it
down my humble opinion okay
um let me make sure my dom is working there for YouTube Perfect slide in slide
out very nice okay so we get into a
trade could be the most boring day ever guys this is a really a wild card
day and good morning gentlemen good
morning wonder if our new
guy make sure he knows the link
mark
all right making sure he knows where it is morning Jim nice to see you good
sir might need to get me a refresh of coffee before we begin let’s go take a peek at everybody
else
again um let’s
see let’s bring these up a little bit let’s put these halfbacks in
alignment Dow’s looking like uh no so Market’s
open just see here if anybody wants to run a particular direction the yellow
line you just see saw pop up is uh yesterday’s I mean is the overnight
range let’s come in turn on my essentials got the opening got vwap that’s the
overnight range very
nice good morning Mr Bell good morning Mr Jackie hope we did thorough pre-f
flights all right coming and testing this 50 again theal ripped through it it
sure did mq is going up Dow’s going straight down
recipe for complex chop issues with rhy rhythmic and Schwab
and Think and Swim this morning okay thank you
sir and I think Apex reset everyone’s losing account if you had a loss yesterday I think they reset
everybody all right coming to this 50 they did not oh okay sorry thought I
heard they did I didn’t I don’t
know maybe my fault yeah I don’t know all right nice push down into that
50 there very nice let’s go take a peek at everybody
else okay see what happens here
this just just a little liquidity grab from the overnight or is this the beginning of a move let’s see what
happens here I’m going to drop to a one minute time frame
here let’s see what happens got to be careful here cuz that
could be nothing more than a liquidity grab we we uh ladder back up and go make alltime highs so
I wanted more of a push into under the 50 than just this for me to go short off
the 50 so no thank you plus it’s really is the opening
candle right so let’s watch what
happens go back to a three minute chart I was hoping it did more of a push
down but it didn’t
all right are we all on the same train that’s the purpose of this page the answer is no we’re
not it was looking so beautiful
earlier if you’re a risky person not risky but if you’re want to play positional chess there this I this could
represent a short here but I almost want to see another ladder um
or I wanted to see a bigger push under the 50 didn’t really see a bigger push so I try to look at every day is if I
only get two trades would this be one of them I would be willing to risk no not
yet so I’m just watching here
there’s another high probability trade around the corner and this one is this short right
here is not a high probability if anything I would not have blamed anyone for taking uh that long
there just know underneath there you could get a really good push never make things worse never add to a losing trade
all those rules very nice papy yeah don’t blame you
certainly nice trade and we’ll see what happens I am
going to drop to a 30 second chart here now because I’d certainly be interested
in a long if this gets set up here and if we flush the low with a
strong candle um like I said to me this is the Line in the Sand this
50 see what’s going to
happen let’s go take a peek at everybody else real quick all right we certainly are not on
the same train my goodness look at these Cowboys all
right man Apple up big I’m sorry I thought that was the lamest announcements of things yesterday from
Apple my humble opinion there’s Mr Chris
I was talking about your long yesterday and my short
um um of how you took a great long off that backside the one thing that I
wanted to point out is um we were talking about knowing especially if you’re in multiple contracts I don’t
know how many contracts you were in but if you’re in multiple contracts one of the questions to ask yourself is when
can price bounce back in my face and it would have been off that break level where I went short short so the optimal
location to have taken some contracts off would have been at the break level where I took that
short um if that doesn’t make sense we can talk about it
further and you might have just been in one contract and you know it’s a
different thing okay yeah yeah the one makes it more difficult you either say hey I’m so
you have two choices when you’re in one contract there I want to get out at the next bounce level where price can bounce
back it in back in my face or I want to be part of a move and you were with the
trend so if you’d made the decision hey I’m just going to be in part of the move so I’m going to follow it at 50% and
then hopefully I get protection layers that makes sense as well but I just wanted to point that out and it’s kind
of fun you can be long I can be short we both make
money but does that make sense
one of these aren’t like the others you’re welcome one of these aren’t like the
other all right getting exciting beautiful pools of liquidity
down here strong level here underneath the strong level I think we go down to
4309 not 4309 that would be quite a prediction 5309 area we’ll see
we don’t predict price so all
right good morning guys Mr Warren Mr Paul Mr py Mr Nathan Mr Mark both Marks
Mr Manny in the house Mr Brooks back from his vacation Mr Joel Mr Jim Mr Jackie Mr
Chris Mr Bruce and everybody else good
morning all right day before if you haven’t watched the am briefing I encourage you to do so um one of the
things I’d mentioned this morning cool py hope you your family
have fun on your vacation um one of the things I mentioned this morning that when you watch the am
briefing if you if you I I sometimes I give very specific
things um that if I were you instead of trying to remember them put a line on
your chart and make a note from the am briefing you know like yesterday we talked about the 50 being the Line in
the Sand this morning the 50 is the Line in the Sand maybe you throw on a a white
level and put line in sand or sometimes I give hey careful
with Longs below or shorts above at a specific level that might be something
you want to have on your chart cuz you’re not going to remember it you’re just
not so like whenever I’m preparing for my am briefing I actually I start
preparing for the am briefing right after the close and I’m making notes on my own
chart and those notes that I make on my chart turn into the am
briefing so I make notes too
yeah look at Apple I mean and I don’t quite get it but
whatever I was kind of hoping they would throw a surprise Mac e mini or Studio upgrade or
an iMac upgrade but of course you know it’s really software based but I was
kind of hoping for it so now wait till fall
all right we’re we we seem to be laddering down we seem to be getting under this 50 it doesn’t give me a trade
yet even on a 30 second chart here what aren’t we getting we aren’t getting any level
development we’re getting nothing let’s go take a peek at everybody else
though I was hoping Russell had vomited down here as well kind of got two
vomitor cuz we’re at our 50 we’re still inside of yesterday’s range I mean the
Bulls are still in control the Bulls are still in control they’re wrestling here I mean
this is a tug of war right here who’s going to win and you know it might be one of
those days that literally this thing just vomits let’s say One Direction and
you’re like oh well and you and it resets it everything I don’t really have an entry
here unless I was playing positional chess and take I would probably taking
this short here at 50 if I was playing something
positional but I’m going to wait till I get a real type of level that I can kind of
defend you know than just prediction trading because really that you know
that’s kind of prediction trading it’s not really play in a bounce level
I’m kind of surprised Mark that their AI is really
chat GPT like really yeah it is the day before fomc
tamper expectations thank you papy um morning good luck hope everyone is doing
great thank you sir but it is the day before fomc I do
recommend you dial it down uh you can do wonderful things with one contract
multiplied small and multiplied I kind of like that new term we’ve been
using I couldn’t even watch the whole Apple event I was like I’m so
out I thought it was funny people were mocking Apple oh You released a
calculator app on the iPad oh that’s so great
all right price is getting a little active maybe so even on a 30 second chart we’re getting no level development
there’s nothing here enticing me to trade one way or the other um so we’ll
see I did I was impressed with the you can handw write out an equation or
something and it gives you the answer that is kind of cool
yes yeah Mark Turner I agree with you too not quite what I expected I was like
really I did see Elon didn’t have he said some it’s above my paygrade
something about if apple integrates with chat GPT on an OS level he will ban
Apple devices at all of his companies
man price just did not behave exactly as I needed it to behave here for me to get
short I don’t think they’re going to incorporate chat GPT at the OS level though I think you’re going to have to
say I want to spe specifically use chat GPT and I understand I’m
exposing all of my phone and everything in it to artificial
intelligence I don’t think they would do that just from a security standpoint but what do I
know well dang it let’s go back to a three-minute chart
and let’s just look at this from the basic level
that might develop into something for us and this thing might just push down and grab this liquidity then we’re
looking at something different then we got to see what does price do here at the strong level and this liquidity does
it want to start laddering is that all they want to do when we start lading back up um or is it the beginning of a
move and maybe we’ll be able to find another way to
participate it looks better on a 3 minute than it does a 30 second that it actually looks way
better man one thing about it we we we
certainly didn’t get the sort of pushup before it pushes down move let’s go take
a peek at everybody else again more down still in yesterday’s range although it’s
coming to the low enq is having none of this down move if enq decides to get on
the south train Watch Out Below that’s really what I’m looking for
here does NQ really start pushing in so if someone in the group could kind of keep an eye on that um because if enq
decides to come in it’s going to be Watch Out Below uh no more Longs
um and uh or at least until we get to the bottom of the range where’s my drawing there it is I
moved it way too far over sorry that’s jeez did I lock it I did
lock it my goodness that’s why I really didn’t want to lock
that so kind of watch out below here is the
note sometimes price moves without you and you got to just go oh well it was
not a clear entry for me so I didn’t take it
and that’s okay enq trying to break that thank you sir yeah if enq decides to go down Watch
Out Below dudes no more Longs whoa I didn’t mean to move
that all right so it took yesterday’s rth low right at yesterday’s London
overnight low we’re right at the strong level
um let’s see what happens there I’m going to slide you over here
now and I’m going to slide you
3850 all right let’s go back to a thre minute chart now 8o
candle hitting the strong level let’s see what it does here let’s say it
doesn’t respect this level at all and vomits through it your long game is over
and no Trading just stand back and let it
go just stand back and let it
go so didn’t really give me a clear entry here like I said if I would have wanted
to play positional chess that’s where the short was uh but there was no real
bounce level um other than just positional Trading
I would have liked to have been in it but I couldn’t uh do it so no big deal wait for the next
trade what does that mean Rusty on YouTube stopped first 10 points of day
now waiting I don’t
okay so let’s see what happens here at the strong level like I said eighto candle
eighto candle represents what I consider irrational price action our levels work
beautifully with rational price action AO candles does not lower the win rate
of our system but it does increase your risk because if your average stop loss
is six points which is the pretty much the average stop loss if
you’re in the land of eight point candles it’s not the best environment to be trading Casey your strong level
indicator should be uh
610 that’s the day I updated it so if it doesn’t say micr Trader strong level
6.10 make sure you remove the indicator re it refresh
sometimes you have to do it different ways to get the new levels on your
chart well the reason why I went to 302nd chart here is I was really looking for a way uh that I could justify even a
30 second short based off of a level and there was none so
whatever oh beautiful Rusty I almost did but I try as the leader to only take
trades that I could justify F based off our system um but that was certainly our
Line in the Sand yesterday it was up today it looks like it’s
down so funny I didn’t take that 50 long yesterday and I didn’t take this 50 short today and called both of them and
I didn’t take either one oh well what do you do what do you do you wait for the
next trade I need to lock that range I keep moving
it very nice Mark try to stick with it man let’s go take a peek at
everybody yeah there’s no reason to get out of it if you were in that short at this point I don’t really see a reason
to get out try to stick with it keep one runner
back maybe you get to nurse this trade all day long if i’ had have taken this 50 short
which I did not I would have only done one contract um
that’s me
personally man that’s tough cuz there’s obviously no protection layers
yet all right so it came down we’ll see what happens here off the strong is that all it wants to
do
um man okay
so this is where the Bulls need to defend they need to defend
here very nice if you were short let’s say one
contract where’s the optimal exit right here at the strong that’s your optimal
exit where’s price most likely going to bounce back in your face right
here you know
had you done that which some of you did yeah nice 10
Porter beautiful good job if you did multiple contracts I
would just try to keep one back and say you know what I made my bet at a perfect trade
location and so we’ll see what happens if it comes and gets me oh well make price come get you don’t make price
present you a new opport o Unity to trade just make price come get you my humble
opinion your mileage may
vary let me go back to a 30- second chart I just want to look at that because if we start laddering back
up I’m probably going to get on board with a long let’s see what
happens you know I try to be really exacting when I draw these ranges and
Roger I just want to point this out to you look at where we
bounced right off that gray
range all right let’s see what happens we’re on a 30 second chart to
see what happens at a very important location like we were doing on the 50 we
dropped in time frames I want to see what it’s doing on a micro time frame at this important location we’re at another
it vomited right to the next important location I mean did it not go from
strong to strong it sure did and so now let’s watch to see what
happens I am not interested in a first ladder long
cuz I believe if we get under the strong level we are going down
town I would only be interested in a second ladder long here my interest in shorts are pretty
small at this point 50 is where I wanted my
short now we’re getting into this gray area represents the exact middle of this
large time frame range no one ever said I cannot wait till price gets in the middle of this range so I can go long or
short said no one ever you still short Mark anybody else
still
short how come you didn’t keep one all I don’t know how many contracts you did let’s go check out inq here hold up
let me go back to this so I can see it more
clearly okay I just know you’re trying to work on holding those
trades all right let’s see what happens here
nice job for the people who took the
short if you did multiple contracts keep one back this might be a 100 Point move
today could be 400 points
Mark so the only thing I would encourage you to do Mark is I continually to
mental trade it do you know what I mean continue to mental trade it that’s
all here let’s come back over here to
NQ I’m going to drop down to one minute here on
NQ previous alltime High don’t need this don’t need this don’t need this don’t
need this don’t need this because you did on even on a on a one
minute here you got a protection layer and it might very well come get it it’s in a perfect place for it to come get
it just complete the trade mentally all right let’s see what
happens here what did it fail to do it failed to make a new
low this is decision time right here at this strong level
kind of cool we’re hanging out here who’s going to win just like there was a battle here at
this strong level there’s now a battle at this strong
level pretty cool okay I got you my friend nothing
wrong with that wait for the next setup there’s another high probability trade around the
corner good morning Mr Toby my first ever
member so the easy short has been done now we’re looking for evidence are
they going to want to take this thing back up the Bulls are in control do not be
delusioned to think anything differently the macro bull bear line is
down
here well this certainly makes the uh wrap-up video easy
hey now we’re looking for evidence of back of so if you went short and you were doing protection layers here on a
302 you’re probably out somewhere about in here good trade good job we don’t
know how far price is going to go all we can do is follow price and then try to stay behind protection levels as price
moves our Direction and looking for opportunities to add there were zero opportunities to add in fact you’re
probably out of your short and that makes sense all right so we’re on a 30 second chart
just to see what are we doing here at this 30 second level are we going to start lading I would consider this the
first ladder let’s go take a peek at everybody
else nice nice nice
nice all right so at this point my mode is switching to do I where’s my long if I’m
interested in getting long to go back up if I’m interested of course we are on a 30
second chart so you want to be careful
here e
oh come
on dang it
well I had my Longs lined up right here boom boom
boom and on this candle I was like cool it’s going to get me in and it didn’t quite happen that’s
okay let’s go to a three minute chart let’s take a peek at this on this time
frame go to a one minute
go back to
three’s go back to one let’s go back and check everybody
else so inq got to be careful here with a long on ES cuz NQ is coming to the
vwap and halfback a perfect area for it to bounce as well e
go check in Q here again it’s getting close to that area
that all right rememberers the day before CPI and
fomc we have to expect squirly price action it’s beautiful to go from strong
to strong we now seem to be wanting to ladder back up as we were predicting in this area as a great place for it to
happen go back to a thre minute chart for one second
back to 30 second chart here let take a peek at everybody else
again
okay
well dang it it’s okay all right so now enq is
definitely at this spot where a bounce is very likely and Es gets a sympathy
bounce down or is this the breakout point and watch out
above man I I took my my shorts off on that up move and then I added them back
when we were coming back in and just didn’t get there for me I wanted a deeper
retrace looking more for that thre minute front side oops
sorry looking for more of that three minute there that’s
okay well we saw this well and we saw this
well we knew when it was time to short we knew when it was time to look for Longs that helps
tremendously man oh well can’t be in every move you don’t
need all of every move
all right we’re now at the rth halfback of
today very important spot man we are at a very important
spot Apple up 3%
jeez all right so now what I’m interested in I want us to break the 50
get up over vwap I’m aggressively looking for a long above
so it didn’t give me a clear entry down here for my long just like it I didn’t
get a clear entry for my short short here that’s okay I can’t prediction trade I suck at prediction
trading I can only trade my
levels just because you call it right doesn’t mean you’re in every
move really reminds me this morning’s uh
quote wait sometimes the weight is the hard
part can it break this break level I’m not not interested in a long now I’m not
interested in a short now I am waiting to something new needs to
develop something new needs to develop my humble
opinion so we wait let’s take a peek at everybody
else all right let’s go back and line up halfbacks and all of that to get a real good
view let’s bring this down let’s bring this down are we all on the same train
that’s what we’re looking at here are we all on the same
train the Bulls really want to hold this strong r
level so truly if they take this back down under the strong level Watch Out
Below let’s put that right at the
strong so as I said now for me to go long I want us to break the 50 break the 50 give me something here
um this pullback and this here just didn’t get me in I had three contracts lined up in
this range and uh oh
well sometimes it doesn’t work
out now earlier I talked about how I wanted to be short here didn’t give me
the opportunity cuz I try to look at every day as only have two trades was I willing to rest my hat on
that no I wasn’t I was willing to make that my first trade right there though
that long and it didn’t happen oh well
morning there Joel wonder where Sunil is today Mr Casey in the house nice to see
you
sir well I’m pleased how we saw it guys thanks for all your help and having all the eyes on the charts and what’s going
on
but now we are in this red zone of my range and typically it’s better to look
for shorts than Longs and I say
typically but the way that the rth low the Asia low or the London low and
against the strong level this is all that price wanted to do at this
moment and then we’re looking for evidence of lading back up but I absolutely refuse to go long
towards the top of this red zone I’m okay going long here near the bottom for
a really good reason but you don’t long this here you can’t long up in here you
just don’t do it wait for the next trade that this is not a good long trade location this
isn’t the best but it’s for multiple reasons why I would be interested in
it so now you just watch out Apple up monster oh my goodness let’s go take a
peek is Apple at all-time highs did it take it I think it
did or it’s right there at is alltime high very
cool what in the world is that Nidia
let’s go to a 4 Hour chart very very very cool now that
Apple’s made its alltime high you have to just wonder is they going to pull it right back in very
interesting and boy I almost took this trade here on a option um I don’t watch
these individual stocks every day so I kind of missed it but we had it drawn and boy that turned out to be real
really spectacular my
goodness my old college roommate had owns Apple at
like I’m going to text him right
now looks like your Apple is making alltime highs what is your average cost
basis
he has notification silenced he must be cashing them in I don’t
know $17 wow his average cost in his Apple
stock is $17 and he owns 10,000
shares my goodness good for him
$17 um yours is 67 you have two
shares yeah he refuses to sell it just because he has a cost bases of 17 bucks
wow I didn’t think it was that low I thought it was a little higher but wow he’s a mechanical engineer so he knows
it exactly ah I hate we missed that long
there I was I I was willing to take this because I felt this hold on sorry I was
willing to take where’s my drawing tool come on there we go I was willing to take this long here cuz I felt that was
a second ladder I was going to count that one as the first um
um but now we’re up here at the red no thank you I needed to see it break 50 break
vwap and then I need to see inq doing the same thing and look at inq getting above the halfback getting above the
vwap look at this turn around look at this turnaround yeah I have no interest in
shorts except under this level so it makes it easy cuz we’re only
looking for longs
and right here Battleground
again we might take out the all-time high today guys it’s not that freaking
far it’s not that far above here no more
shorts my humble opinion the easy short is over the easy
long didn’t happen for us this would be the secondary
long so nice man that is just so beautiful how do you not love this
all right let’s see what happens here
in Italy on their
own if you wanted to short top of
range 50 strong level vwap I wouldn’t have blamed you but small small small my
humble opinion it already took all the liquid we’re lading back up why do you want to
short that I
wouldn’t my college roommate just got braces for his daughter and I say you now know I orthodontist vacation in
Italy on their own yacht he said yeah they trade es not
Mees it’s funny
beautiful
beautiful I be highs and lows here in 12 minutes
all right what you going to do with the 50 my goodness should have been long to that
that have been a 10-pointer and I would have taken the 10-pointer I’m pretty sure because this is going to be
difficult to get over more than likely it’s going to have to pull back
to break it but what do I know we’ll
see I’m just watching here I don’t have
anything Longs up here if I can get
it and shorts below here
well dang
it stinks when you can’t get in a trade
would not be shocked if it was a monster white candle or a bigger
pullback I don’t I have no clue what it’s going to do we don’t need to know
don’t need to know power power power
so Mark to mentally follow through with that level it would have came and got you
right no big deal that’s what I do if I get out I finish I just mentally trade it and I finish it cuz that helps me
complete my thinking on everything it was a perfect place for price to turn
around it
did all right from strong to strong back to
strong great all right let’s get up there this time it’ll probably break these two
strong levels that I gave you yesterday um
or I gave you Monday that was yesterday here let’s go to five minute
chart here so I don’t have to chase it so there there and there Back Time
back through it I certainly wouldn’t be playing that as a short but they don’t deserve they deserve to stay on the
chart that’s what I meant to say but we get back to them we’ll
probably blow through them all right
so now let’s go to a three minute chart
man man man man that was beautiful though
and my wife is at a professional development thing today depending on what price does I might stick around
longer um although the afternoon is usually
horrendous but we’ll see but my wife’s gone
so man oh
man 10o short and this could have been 10-point long did not give me a proper
entry here and didn’t give give me a proper entry there oh well what do you do you wait for the next
setup waiting is what we do 90% of the
time often joke trading is like what pilots say hours of sheer boredom
followed by a few moments of sheer
Terror all right so let’s dial it in just a little bit more here I feel like we know where we’re at
five minutes to the bottom of the hour for the IB highs and lows it certainly seems like the IB high is in the most
danger let’s go take a peek at everybody else strong strong
strong back to the
50 all right time for a new
beverage
for
for
for
e
for e
oh come on
come on nobody’s shorten there get
up my goodness
jeez stupid 50 level
well it took the long where I said I was going to take it if it have popped a little bit more I could have taken something off and then
put my stop behind but it didn’t pop enough for me
to really want to uh take anything
off so no big deal I was hoping for a
move didn’t get it not that it won’t happen but I didn’t get it
there it either goes or it doesn’t I don’t have to
hope all right let’s go take a peek at everybody else reset our thinking here
so what’s going to happen
now back to watching price either behaves the way
you want it to or it doesn’t it’s real simple
all right IB highs and lows are Now
official turn on my magnet
tool take a peek at everybody else again
oh well this hanging out at a level I just don’t like it I want price to touch my level and
go and major level hang out major level
hang out back to Major level hang out oh
well this is where you really want great trade location I would have much preferred being long here I would have
like that trade location and then you could have played perfect chess here I needed it to
move and it didn’t move so oh well wait for the next
trade you’re killing me Smalls
man am I going to kick myself again for not being in the 50
long oh well I wish I was perfect I’m not
good job on that entry Jim um to be honest at this point
you don’t want it to come back into the red range I would be at 48 for my stop my humble opinion if you wanted to
be a little more
um actually I’m perfectly fine with 48 being that stop in my humble opinion on
your entry okay because you got top of range protecting you you got vwat protecting
you you’ve got this small volume in Balance here protecting you so I think 48 is the perfect place to put that
stop um we break this right here is your
10-pointer I we break that and you wanted to lock in a 10-pointer go ahead
and lock in a 10-pointer cuz more than likely it’s going to bounce off the IB and the opening and
come back but if it happens to break it you’re going to be in a really great
move so I would have it at 48 and if we pop this move it to your 10-pointer and
then maybe it’ll push through
there that’s my opinion good job man good job I should have been a little more
aggressive there down there to go long like I was pretty aggressive here
just price has not behaved in a way to keep me in the trade that’s okay it was behaving much better down
here got much nicer big white candles and now we’re we’re we’re a tiny tiny
tiny tiny tiny whatever so there’s your 10p pointer but
let it break it let it break it let it break it like it when it gets to 54 if
you wanted to bring it into your 10-pointer I think that makes
sense nice trade I’ll live with you through this
trade and sometimes what you do is you mentally
now when I’d went long at 50 now that it’s at 52 what I would do is I would I
would take off two or three contracts keep like a contract here and
a contract back here where this one is financing this loser and would require
price to come get me so Jim that’s also another Point how many contracts do you have remaining um um because you might
be able to play something like this as well um that’s how I would have played
that is once it hit 52 I would have taken okay you well okay so what I would
do is it gets to since you got one if it gets over 54 move it to 52 so you can
capture your 10p pointer if that’s something you would like to do if not keep it at 48 and and write it
all day long maybe
but certainly if it comes back to 48 you you should be out my humble
opinion yeah Peter it does help doesn’t it I like financing a
runner with one of the other contracts so if you take something off at a two-point profit let’s say you’re
multiple contracts let take one off at say two points and the profit and then move your
Runner to minus two points so now it’s got to come back
through your initial entry and if you had perfect entry you’re probably good
so thanks for that Peter let me add that to the broadcast I find that really
cool so I love that thank you thanks for the idea you are
welcome we’re really good in our group at getting these 10 20 30 40 plus Point Runners and that’s one of the ways I
really want you to try to stay in a trade
it makes a difference and unfortunately price
didn’t behave in a way here that allowed me to do that so oh well I was hoping so
but it wasn’t meant to
be certainly a lot of resistance here to make a move look at
this so if you’re long you really want to see Dow get back into yesterday’s
range and boy how things can change and I believe we saw it very very very well
very pleased with it too bad my long here didn’t really work for me it’s
okay well actually I went long here I went long at this exact moment and this
come back I’m out sometimes price behaves properly for
you and sometimes it doesn’t it just thinks I believe we saw
it to near Perfection and uh wasn’t able to participate the way I wanted
to we’ll continue Jims long
though well congratulations very nice peter
very
cool all right all right
so dang it man so disappointing it’s hard not to be
disappointed you can’t let it affect you if it does affect you that’s when you pull yourself away from the
chart you know even in this up move what aren’t we getting guys you aren’t getting any backside development this is
and these longs can be really frustrating because you don’t a lot of times you don’t get that you’ve got to
have a great trade location and this would have been the
best um Jim is long somewhere in
here so now Jim if you wanted to lock in your 10-pointer put move your stop to 52
remove your hands off the mouse go get you something to drink see if this thing can break the
opening can it break the IB high without any hesitation like really I’m hoping
for you it just rips it and doesn’t even honor it just rip it I certainly
wouldn’t be taking any shorts guys I said above here I believe the short game is over if you did want to take one
little short take it on the opposite side of this IB High small tiny managing
aggressive oops that’s not what I meant to do
man I am so bummed that would have been nice right
there were I’d have taken off most of my contracts are right there
and finance that last one and tell price you have to come get me otherwise I’m going to milk this
freaking trade for as long as you’ll let me
let me know what you decided to do Jim are you keeping it at 48 are you moving it to your 10-pointer I’m curious what
you’re
doing okay very nice oh nice Dave hey perfect place to it if you had
a lotto Runner you would want to keep it back in this case if you were just one
contract I don’t blame you and hopefully just rips this and doesn’t even respect
it now why did I think that was going to
happen because we took out the vwap on the first push through
the buyers are strong why did I go long there like the buyers are strong this is
the Line in the Sand and I said above here the short
game is over that was my humble opinion your
mileage may
vary okay now Jim if you wanted I know yours as at 10 points but you now have a
new break level here on a one minute keep your 10-pointer that’s
really a nice thing it’s not coming back most likely so you’re
fine um the other way to do this here now you know one of the things we’ve discussed in the past let’s say this
thing just be keeps becoming white candles how do you follow that you’re getting no protection layers well one of
the ways to do it is to stay stay behind two inefficiencies so for example this
volume inbalance here is one inefficiency if this was a fair value Gap that’s a second inefficiency stay
behind two inefficiencies okay nice Dave good
trade good trade I oh
well I demand Perfection from myself and sometimes that’s
I still think I managed it properly though it’s
okay all right so if it comes back to the opening here so you do have a bit of
a protection gem just based off the opening um the opening itself can
represent a a trade it’s not part of our core strategy or whatnot but if you’re really looking to be longed
let’s go take a peek at everybody else I I wouldn’t do it
though let’s get above yesterday’s half back there so for me I’m done trading
I’m not going to chase this anymore I have no interest in chasing it now this was the I wanted my short here
I wanted my long here and unfortunately I did go long here but price didn’t behave in a way to keep me in the trade
so I’m going to be done for my morning trading in 15
minutes I’ll come back and look in the afternoon I feel like at this point I would be trying to play catchup for the
trades I could not participate in CU saw this perfectly saw this
perfectly saw this perfectly and unfortunately didn’t really make anything so I I think I’ll remove myself
from the chart at the top of the Hour come back and look in the afternoon
noon cuz now I look at this one ladder two ladder I don’t know three ladder
four ladder five ladders I’m out I don’t chase after
that apple is up 4.7% holy
cow so I have no more trade I’m interested in the easy trades are over
in my humble
opinion you’re welcome was my commentary helpful at all rusty Peter anybody else on YouTube
live I just try to demand perfect entry perfect entry solves all
problems okay so now Jim if this price pushes up here you got a new protection
layer here but two points behind that probably keeps your stop at the exact spot it’s at right now I just want to
bring it to your attention
yeah YouTube guys we’re pretty good at what we
do I do tend to be more conservative trust me I have members in my group guys
that do multiple five figures a day and um I
can’t even begin to compare myself to them I I I I’ll trade a single Mees
contract and you know cross multiple counts and I’m up 200 bucks and there’s guys in here that will be up 12
Grand different folks for Different
Strokes but my goal is to really lead the group keep you on the right side of
price action help you manage trades help you get in into trades even if I’m not
in them don’t don’t base it off my trading my goal is to help keep you on
the right side of the trade and I don’t think there’s been a better day to demonstrate that than us looking for
shorts there and then saying okay we’re at the strong level we’re looking for the train to reverse we’re dropping to
30 second charts and getting with the trade
yeah whatever works for you you know I have people look at other things in my group but I don’t want to hear about
them our core strategy Works beautifully the way it is
um but yeah there’s people who uses other things as well to help them with
trades so I said if it comes back to the opening it probably represents a good
long um but I’m not going to take it now we’re we’re at the ladder I’m done oh well no big deal wait for
another
day very nice
peter all right let’s go take a peek at everybody else there goes the London
alltime high is Insight I said don’t be shocked if we go take alltime high today
because tomorrow’s fomc today can be weird but now we’ve had five ladders I’m done I feel like
I’m chasing I had my opportunities and just didn’t quite work out for me
today you’re welcome yeah I’m done in 10 minutes myself
so now uh Jim you have a new protection layer 5450 um 5250 is the optimal place to
have the stop loss at this point in my humble opinion and I think you’re going to be in a fantastic move what do I know
but I you are certainly set up for a great trade and it is a great trade anytime you make 10 points that’s a
great trade that’s why we have the 10-point club
right and the no trade club I’m in the one tech
club oh yeah I think 5250 is the right spot for that Peter my humble
opinion and now let’s look at
this so big big big decision time in my
humble opinion so if you’re long try to use
your protection layer there I think you’re going to be in a phenomenal trade I’m
jelly
man so close so close to a big day
come on get up there for Jim get up there
man J almost got a 20p pointer
is’t that fun to watch that oh my goodness that’s
fun well guys I believe we called it very very very well
anybody else still long you could have taken the opening but I’m not it’s I’m five ladders
up beautiful beautiful beautiful freaking beautiful you got these three pools of
liquidity above I I can’t Envision they’re not going to get there and as I
said these two strong levels to me have already had their play so alltime high is within
sight and that would be a 40 pointer for Jim hold on let’s
measure this out Jim
man yeah you’ll have a 40 pointer dude it
gets there all you can do now is Play Perfect chess just keep telling yourself play Perfect
chess nothing matters now you’re in the money there’s no stress
zero and now you just follow price you now have a backside protection you got
backside you’ve got a break level you’ve got the opening you’ve got Trend there’s
zero reason to be out zero
reason don’t Target anything Peter let price tell you what’s going to
happen ignore targets that’s predicting price my
humble
opinion just let price tell you when you should be
out forget
targets targets forget targets get that out of your vocabulary my humble
opinion maybe it’s not humble just don’t have them just follow
price
all right Dave I’m going to use your phrase price is truth together we trade Better With a
Little Help from George thank you
sir very kind thank you I really enjoy doing this and I hope that passion
shines through
come on get up there turn on alerts
now Jim you have a decision if this thing pulls back to the backside right there around 58 you’re going to add to
your trade
we’re not looking when we’re going to get out we’re looking where can we add where do I need to move my stop how can
I play Perfect chess there’s no reason to get out of this
long your stop is perfectly placed let price develop
lots of red on my on these in on this uh watch board though in the isn’t
it but so goes Apple so goes the market
now we’re on a one minute it’s going to go to 302 it’s even uglier let’s go to let’s go to a thre
minute chart for a second yeah the one minute chart is really the only chart you
can look at
so what I was looking at here Jim is if this candle wick here could have had you lock in a 20 porner I would have
recommend you use that but obviously it doesn’t but that’s what I was kind of looking
at but there’s no reason to get out of this
man disappointing not to be in this yeah stay in this trade man stay in
this trade and you too Peter on YouTube if you take some stuff off I don’t blame
you but play Perfect chess on the final Runner because it very well could go to the all-time high
what do I know we just follow price that’s all we do I certainly do not know I’m only
pretty good at where price might bounce where the the chest pieces are on
the
board it hit your 20 pointer though basically right there but stay in
it you were in the trade that it’s worth the exercise of playing perfect check
I’m going to watch it a little longer not because I’m going to trade I just want to see if I don’t want it to get
underneath that for for gy here
come on pop
it let’s go take a peek at everybody else how are we doing it vwap over over
you got to stay in this trade now enq did take yesterday’s rth
high and it’s pulling back in which is normal so we’re going to have a pause
here there’s going to be a pause in price could could it be a turnaround it
could be but I don’t think it will be um alltime
High get up there get up there
get up
there I would not be shocked to start seeing some larger white candles here
now but what do I know it doesn’t matter all we do is play Perfect
chess and remember NQ did take yesterday’s high I believe all this is going to do
is cause a pause so let’s do this let’s go to the actual inq
chart let’s go to 3 minutes let’s pull this in
let’s watch inq here on a smaller time
frame let’s make of the right colors just like when you’re in
chemistry in high school make your lab notebook nice all right so what is inq going to
do here you wish enq hadn’t have made it to
yesterday’s high yet because that was a striving Target and it got there so now
you’re getting this you’re going to get a sympathy bounce as
well and it happens all right it took that your stop is still back behind
this there’s your backside are you going to go long off the 48 or 58 my it’s my
bad see what happens here said n Q took its high so we have
to expect there going to be a sympathy pullback with
it is that all inq wanted I don’t know the answer to that
question see what happens
here all we can do is follow price
let’s go take a peek at enq again perfect place for NQ to bounce
let’s see what happens
all right coming back to the
opening this is one reason we watch the other indices
just try to play Perfect chess
we’ll take a peek at everybody else
just play perfect chest that’s all you can
do let go see what this looks like on a thre minute chart not much structure so we’re going
to stick on a one minute here for
all you can do is play Perfect chess knowing that there’s going to be a pull back here
yeah Apple’s a monster today if Apple decides to pull
in the The Watch Out Below line might become
true all we can do is follow price
let’s go to a 30- minute chart you got single prints down there
at 52
three minute chart there’s really nothing like literally
nothing which is our base chart got to go to one minute to see some kind of structure
Play Perfect
chess
beautiful for
I think I’m gonna get me some Chinese for
lunch I’ve been craving it for a
while maybe I’ll do it for dinner
let’s go back to a 30 minute chart here for a second turn on
alerts and actually you don’t even need to do that cuz one of our indicators puts the 30 minute candles on your chart
if you wanted it so right there’s your 30 minute candles on your 3 minute chart
and this is single prints right here
so I’m going to keep that there for right now keep these 30 minute candles up
Europe in about
15 oh man I’m sweet and sour chicken
guy course sugar
I actually just do Panda Express around the corner I get their orange chicken
teriyaki chicken and uh their low
man did you know that every Panda Express is owned by the same
family it’s not even a franchise I don’t believe it’s a franchise I think they’re
all owned by the same family that is
impressive all right so you’ve got this single Prince which is a special type of 30 minute fair value Gap often times
price wants to tag up with it and so it is certainly a magnet
all right going to dial down the intensity
of these 30 minutes minute candles you do that by lowering the
opacity I think I needed a little bit
more 15 minutes to Europe
boy NQ taking that liquidity was a push
certainly doesn’t mean it’s over it just now needs a balance
level I just can’t believe it doesn’t get there but I can’t prediction trade
either you
know well you got to expect some sort of of reaction at that
high it’s just when it pulls back or the buyer is going to re-engage are they going to protect their
position e
all right let’s see what happens here if it tags up if he gets you gem nice 10p pointer
you played it perfectly we don’t know what price is going to
do now let’s see if he wants to tag up with the single prints does it bounce off this break level
here so you’re out of protection layers now I always hate that position you’re
like oh I took my protection layer you’re still in though right
it got you did Mees get to
5250 mean sometimes they they’re a little
different or did you get out prematurely
all right let’s see what happens oh I got
you so that’s one of the things to think about Jim when you do the add-on so you
did the add-on at 58 do you treat the add-on as a separate trade or do you
marry them and now that average becomes your trade that’s completely up to you um because
here on the 58 level it went against you and then it came back and gave the
gift to break even do you just get out of the add-on and go oh you didn’t bounce so I’m out of the add-on or do
you run them as a the as a married trade
now and the average price is important something for you to think about yeah I
got you well yes you can because what you can do is you can just buy or sell
you can hit the the uh buy or sell and get out of one of the con now it’ll
change your average it’ll okay so when you add it at 58 let’s say you would
have gotten out at 58 well now um it’s going to show on the runner that it’s
probably at a loss but you know where you’re because it goes by
I’m getting my words confused here about first in first out last in last out last in first out whatever it’ll screw up
your p&l on your screen but you know
that it’s it’s just going based off your last Runner your last add-on am I does that
make sense at all um so I tend to treat my add-ons as
a separate entry because if I wasn’t long already I would have went long so I
look at that as a separate entry I manage separately now once it goes into
the profit let’s say they’re both up 10 points well I’ll manage them as the same
trade but initially I want the add-on to earn its
spot to stay in the trade it’s kind of how I look at it but
you can do it either way I don’t think there’s a wrong
way good job
um I haven’t traded my X today so let me slide this over
Come on
load all right so here’s my ex so I assumed you put your entry in by
right clicking over here and limit by one at that level to do your um add off
that’s right George yeah then you can come over here and take one off or add one correct so let’s let’s play that out
for a second so you had your order to go long here to your add-on it it went
against which is not it’s fine but when it come back up and you’re like you know what I just want to get out and then
just just hit then come over here to this red button and you’ll sell one at the
market um I’m or I don’t know if there’s another way to I don’t know if I can change my settings but when I added the
second it it raised the it basically added it to my original order and then
raised raised my yeah entry price up yeah yeah it it’s going to do that automatically you just have okay I just
didn’t know if there was a way to have two separate no no it it it combines them it averages them it messes up the
profit p&l on the Dom a little bit because you know sure because and and
then when you so let’s say you got into this contract here and you got out here well now it’s going to say your average
price is is here instead of here correct
because it and and you just have to go oh well I know you know what I mean like just intellectually you know
hey I’m in at 42 on this Runner the add-on I got out of but according to its
math it’s the opposite but I don’t think there’s a way to change that yeah you
just have so what I so what I what I did just to make sure that I didn’t go below
zero on my my entry after IID added that second order I had to move my stop up to
about 54 I got you I I I wish you’d have said
said something cuz i’ have said hey keep your initial entry at your
52 and manage the separate in this the add-on as a separate entry and the way
you can do that pretty easily is with these buttons
here okay I did sell I did the one I added I did sell when it peaked so I but
but it’s it’s still affected my so you actually made money on it oh that stinks yeah so I didn’t I didn’t get hurt by it
but I unfortunately I had to get out on the on the back end I had to get out in
not as good a position as I’d hope to I wish You’ have set up because i’ have said just keep it
there it’s a good yeah I’m still I’m still learning this good job though good
job you did it perfect just it was a new situation for you to add on it messes
with the math but not really yeah you know all right well thanks for the help
George yeah man good job yeah yeah yeah cool cool
cool oh I just got out so I did take the same 58 Long that you did I just took
the heat went the profit took the the heat went in the profit and I just put it at my break even and it got me out
I’m like okay I’m done I’m done I’m done but I I did do the same trade that you did
um um back and forth on the ad but once it goes profit l i I was trying to stick
with it and I’m like I’m not I’m done it’s okay I’m done the better would
have been this break level right but I didn’t actually think it was going to get there um but that’s why you you have
to know the Val and where is that range and it stayed within the
valley but um now that NQ took that major pool of
liquidity and it looks like only Apple’s the Green Technology seems like we’re B
banking on green on on Apple I don’t know I mean Apple’s up almost 6% I mean
that’s just if that changes course that’s going to change the uh uh nature of this
market right here so man I’m very pleased with how we saw
it but I’m going to take my break guys I’m going to be done I will look at the chart this afternoon I don’t expect much
at all and I will see yall tomorrow I will be live for the CPI candle so if
you want to be on early just know that I’ll be there for the CPI candle and
we’ll see what tomorrow brings I can’t wait so thanks for being a member thanks for trading with me and I will see you
guys in the room later